上海锦江国际酒店发展股份有限公司 2018 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
2018 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五十五次会议于 2018 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、 本半年度报告未经审计。本公司按中国企业会计准则编制 2018 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(18)第 R00082 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 2018 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 2018 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 ........................................................................................................................... 27
第六节 普通股股份变动及股东情况 ........................................................................................... 35
第七节 优先股相关情况 ............................................................................................................... 38
第八节 董事、监事、高级管理人员情况 ................................................................................... 39
第九节 公司债券相关情况 ........................................................................................................... 40
第十节 财务报告 ........................................................................................................................... 41
第十一节 备查文件目录 ................................................................................................................. 42
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上海锦江国际酒店发展股份有限公司 2018 年半年度报告
第一节 释义
在本报告书中，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
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
WeHotel 指 上海齐程网络科技有限公司
Sarovar 指 Sarovar Hotels Private Limited
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上海锦江国际酒店发展股份有限公司 2018 年半年度报告
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 中国长城资产管理股份有限公司
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， 2018 年 1 月 1 日至 2018 年 6 月 30 日，
指
报告期末、本期末 2018 年 6 月 30 日
上年同期、上期， 2017 年 1 月 1 日至 2017 年 6 月 30 日，
指
上年末 2017 年 6 月 30 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 2018 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
公司注册地址 中国（上海）自由贸易试验区杨高南路889号
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网址 http://www.sse.com.cn
公司半年度报告备置地点 公司董事会秘书室
报告期内变更情况查询索引
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 2018 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
（2018年1至6月） （2017年1至6月）
(%)
营业收入 6,939,349,148.33 6,289,013,150.53 10.34
归属于上市公司股东的净利润 503,408,830.91 412,453,689.41 22.05
归属于上市公司股东的扣除非经常
315,587,159.32 199,462,003.05 58.22
性损益的净利润
经营活动产生的现金流量净额 1,541,924,325.84 1,397,211,235.52 10.36
本报告期末比
本报告期末 上年度末
上年度末增减
（2018年6月30日） （2017年12月31日）
(%)
归属于上市公司股东的净资产 12,247,255,770.81 12,984,302,937.29 -5.68
总资产 39,438,716,260.46 43,559,696,291.44 -9.46
(二) 主要财务指标
本报告期 上年同期 本报告期比上年同期
主要财务指标
（2018年1至6月） （2017年1至6月） 增减(%)
基本每股收益（元／股） 0.5255 0.4306 22.05
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
0.3294 0.2082 58.22
基本每股收益（元／股）
加权平均净资产收益率（%） 4.03 3.22 增加0.81个百分点
扣除非经常性损益后的加权平均
2.53 1.56 增加0.97个百分点
净资产收益率（%）
公司主要会计数据和财务指标的说明
□适用 √不适用
汇率
2018 年 6 月 29 日 2017 年 12 月 29 日 2017 年 6 月 30 日
1 美元对人民币元 6.6166 6.5342 6.7744
1 欧元对人民币元 7.6515 7.8023 7.7496
1 港币对人民币元 0.84310 0.83591 0.86792
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。
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 2018 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 76,005,404.64 子公司动迁补偿收益
计入当期损益的政府补助，但与
公司正常经营业务密切相关，符
合国家政策规定、按照一定标准 36,031,789.25 母公司等取得的政府补助
定额或定量持续享受的政府补助
除外
除同公司正常经营业务相关的有
效套期保值业务外，持有交易性
金融资产、交易性金融负债产生
主要出售长江证券股票取得的
的公允价值变动损益，以及处置 77,332,976.60
投资收益
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、法规的
法国未来所适用的企业所得税
要求对当期损益进行一次性调整 56,685,131.22
税率调整对所得税费用的影响
对当期损益的影响
除上述各项之外的其他营业外收
10,777,647.83
入和支出
子公司、合营公司处置收益 9,095,353.40
少数股东权益影响额 -24,412,323.92
出售长江证券股票、子公司动
所得税影响额 -53,694,307.43 迁补偿收益和取得的政府补助
等应计企业所得税额
合计 187,821,671.59
注：1、于 2017 年 12 月 31 日，本公司持有长江证券 5,300 万股，占长江证券总股本的 0.96%。
于 2018 年 3 月 13 日至 3 月 28 日，公司通过深圳证券交易所系统出售长江证券股份 1,300 万股。
扣除成本和相关交易税费后取得所得税前投资收益人民币 7,737.61 万元。截至 2018 年 6 月 30
日，本公司持有长江证券股份 4,000 万股，占长江证券总股本的 0.72%。
2、根据法国 2018 年颁布的财政法令,自 2020 年度开始,法国所适用的企业所得税税率将从
28.92%逐步变更为 25.83%。本次所得税税率调整对本公司 2018 年半年度财务报表的影响数为
56,685,131.22 元，该影响数主要由本公司于 2015 年度收购法国卢浮集团可辨认净资产评估增值
对应的递延所得税负债减少所造成。
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 2018 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）。
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。
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上海锦江国际酒店发展股份有限公司 2018 年半年度报告
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，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，继续推动有限服务酒店板块深度整合，着力提升品牌、
质量、效益，推动实现高质量发展。
截至 2018 年 6 月 30 日，公司会员总数达到 15,863 万人。
于 2018 年，在十八届中国饭店金马奖颁奖典礼上，中国饭店金马奖评审委员会授予“锦江都
城”品牌、“白玉兰”品牌、“7 天优品”品牌“2018 中国最具投资价值酒店品牌”称号，授予
“麗枫”品牌“中国最受消费者欢迎中端连锁酒店品牌”称号，授予“IU”品牌“最具创新价值
连锁酒店品牌”称号，授予“潮漫”品牌“中国最佳时尚生活酒店品牌”称号，授予“维也纳 3
好酒店”品牌“2018 中国最佳绿色环保酒店品牌”称号，授予锦江之星、维也纳酒店、麗枫酒店
“2018 投资方首选中国酒店管理公司”称号。
在 2018 年亚洲酒店论坛年会暨第十三届中国酒店星光奖颁奖典礼上，“锦江都城”品牌获
“2017 中国最具发展潜力酒店品牌”称号，“康铂”品牌获“中国最具投资价值中端国际酒店品
牌”称号，“白玉兰”品牌、“喆啡”品牌、“IU”品牌获“中国最具投资价值酒店连锁品牌”
称号，“7 天优品”品牌获“中国最受欢迎商旅酒店品牌”称号，“派”品牌获“中国最佳单体
酒店投资品牌”称号，锦江之星获“中国最具发展潜力酒店品牌管理公司”称号，维也纳酒店获
“中国酒店最具品牌影响力连锁酒店集团”称号。
迈点网授予授予“锦江之星”品牌“2017 年度中国旅游住宿业品牌 100 强榜单”冠军、授予
“锦江之星”品牌、“7 天”品牌“2017 年度经济型酒店十大影响力品牌”称号，授予“锦江都
城”品牌、“麗枫”品牌、“维也纳”品牌“2017 年度有限服务中档酒店影响力品牌金航奖”称
号，授予“康铂”品牌“2017 年度有限服务中档酒店投资价值品牌金航奖”称号，授予“白玉兰”
品牌“2017 年度有限服务中档酒店竞争力品牌金航奖”称号、“首届最受百位投资人/物业主关
注住宿品牌”称号；迈点 2017 大住宿业及空间产业十大创新品牌评选授予“麗枫”品牌“2017
年大住宿业及空间产业十大创新品牌”称号。
中国饭店协会授予“锦江之星”品牌、“维也纳酒店”品牌“金鼎奖 2018 十佳连锁饭店品牌”
称号；中国饭店协会颁布的“2018 中国连锁酒店中端品牌规模排行榜 20 强”榜单中，“维也纳
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上海锦江国际酒店发展股份有限公司 2018 年半年度报告
酒店”品牌、“麗枫”品牌、“喆啡”品牌及“非繁城品”品牌上榜；品牌评级权威机构 CHNBRAND
授予“锦江之星”品牌“2018 年 C-NPS 中国快捷酒店行业顾客最推荐品牌”称号；里屋里峰会授
予锦江都城酒店“2017-2018 中国最具品牌个性精品酒店”称号；中国品牌大会授予“锦江之星”
品牌“2017-2018 中国连锁酒店特许经营十强品牌”称号；2017-2018 中国酒店业金光奖授予“白
玉兰”品牌“中国酒店业最佳新锐品牌”称号；第十四届中国酒店投资高峰论坛授予“郁锦香”
品牌“年度最佳创新品牌”称号；中国旅游饭店业协会授予“希岸”品牌、“城品”品牌“最具
成长性饭店品牌”称号；腾讯大粤网甄旅奖授予“麗枫”品牌“2017 甄旅奖中端最受消费者欢迎
品牌”称号；2018 年中国酒店业金鹰奖授予“希岸”品牌“杰出新品牌”称号、“发展成果奖”
称 号 ； CHTA （ 旅 行 者 联 盟 ） 未 来 旅 行 者 大 会 授 予 “ 铂 涛 旅 行 ”“CHTA Future Travellers
Disruptive Award”；2018 一带一路酒店投资与品牌发展国际论坛暨中国酒店投资“CHIA 五星钻
石奖”颁奖盛典授予维也纳酒店“中国酒店最具品牌影响力连锁酒店集团”称号。
锦江股份获得由上海报业集团|界面财联社主办的“2018 年度界面资本论坛暨界面金勋章
荣誉盛典”颁发的“年度价值勋章”；在中国旅游饭店业协会主办的“第十五届中国饭店集团化
发展论坛”评选活动中，锦江股份获“最佳股东投资回报”称号。
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上海锦江国际酒店发展股份有限公司 2018 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
2018 年上半年，面对行业发展的转型升级期，在机遇与挑战并存的经营环境下，公司坚定不
移地执行“深耕国内、全球布局、跨国经营”发展战略，积极实施变革整合等措施，坚持稳中求
进，全力提质增效，较好地完成了今年上半年主要任务。
于 2017 年 10 月 20 日，公司与 Prototal Enterprises Limited（以下简称“Prototal”）
签署《股份转让协议》，公司收购 Prototal 持有的 Keystone Lodging Holdings Limited（以下
简称“Keystone”）12.0001%的股权。于 2018 年 1 月 12 日，本次交易完成了各项交割工作，公
司持有 Keystone 的股权比例由 81.0034%上升至 93.0035%。
于 2018 年 1 至 6 月份，公司实现合并营业收入 693,935 万元，比上年同期增长 10.34%。实
现营业利润 71,552 万元，比上年同期增长 53.04%。实现归属于上市公司股东的净利润 50,341 万
元，比上年同期增长 22.05%。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 31,559
万元，比上年同期增长 58.22%。
于 2018 年 6 月 30 日，公司资产总额为 3,943,872 万元，比上年末下降 9.46%；负债总额
2,602,421 万元，比上年末下降 10.09%；归属于上市公司股东的净资产为 1,224,726 万元，比上
年末下降 5.68%。资产负债率 65.99%，比上年末减少 0.46 个百分点。
于 2018 年 1 至 6 月份，公司实现经营活动产生的现金流量净额 154,192 万元，比上年同期增
长 10.36%。
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，主要是卢浮亚洲、卢浮集团、铂涛集团、维也纳酒店等营业
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，主要是受五个因素变动的影响：一是铂
涛集团和维也纳酒店因营业收入的增加，实现净利润比上年同期增加；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比上年同期增加；三是报告期内锦江之星因
子公司动迁取得补偿收益；四是因法国未来所适用的企业所得税税率的下调对 2015 年度收购法国
卢浮集团可辨认净资产评估增值对应的递延所得税负债比上年同期减少；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。
总资产比上年末下降，主要是报告期内偿还银行借款、长江证券股票公允价值下降，以及公
司支付受让铂涛集团 12.0001%股权款等所致。
经营活动产生的现金流量净额比上年同期增长，主要是本期三年期定期存款到期收回存款利
息等所致。
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上海锦江国际酒店发展股份有限公司 2018 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 2018 年 1 至 6 月份，有限服务型酒店业务实现合并营业收入 682,551 万元，比上年同期增
长 10.73%；实现归属于有限服务型酒店业务分部的净利润 39,240 万元，比上年同期增长 15.14%。
中国大陆境内实现营业收入 484,716 万元，比上年同期增长 10.91%；中国大陆境外实现营业
收入 197,835 万元，比上年同期增长 10.28%。中国大陆境内营业收入占全部酒店业务的比重为
71.02%，中国大陆境外营业收入占全部酒店业务的比重为 28.98%。
合并营业收入中的首次加盟费收入 26,588 万元，比上年同期增长 18.80%；持续加盟费收入
103,960 万元，比上年同期增长 18.12%。
于 2018 年 1 至 6 月份，新开业酒店 548 家，开业退出酒店 207 家，净增开业酒店 341 家，其
中直营酒店减少 30 家，加盟酒店增加 371 家。截至 2018 年 6 月 30 日，已经开业的酒店合计达到
7,035 家，已经开业的酒店客房总数达到 686,742 间。
截至 2018 年 6 月 30 日，已经开业的有限服务型连锁酒店情况：
开业酒店家数 开业客房间数
酒店家数 占比（%） 客房间数 占比（%）
中端酒店 1,985 28.22 249,736 36.37
经济型酒店 5,050 71.78 437,006 63.63
全部酒店 7,035 100.00 686,742 100.00
其中：直营店 1,025 14.57 116,259 16.93
加盟店 6,010 85.43 570,483 83.07
截至 2018 年 6 月 30 日，已经签约的酒店规模合计达到 10,162 家，已经签约的酒店客房规模
合计达到 1,023,188 间。
截至 2018 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 329 个地级市及省直属管辖县市，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
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上海锦江国际酒店发展股份有限公司 2018 年半年度报告
于 2018 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
484,716 万元，比上年同期增长 10.91%；合并营业收入中的首次加盟费收入 26,588 万元，比上年
同期增长 18.80%；持续加盟费收入 56,223 万元，比上年同期增长 24.26%。
下表列示了公司截至 2018 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 39 5,103 250 22,905 39 5,103 331 30,377
天津 1 14 1,955 118 10,424 14 1,955 174 15,157
河北 12 5 674 225 17,516 5 674 371 30,307
山西 11 20 2,466 100 8,602 22 2,871 153 13,432
内蒙古 12 1 128 59 5,674 1 128 105 10,552
辽宁 14 27 3,542 113 10,908 27 3,542 154 14,557
吉林 9 12 1,576 38 3,683 12 1,576 78 8,145
黑龙江 10 8 841 63 5,342 8 841 91 7,997
上海 1 62 8,665 219 27,153 70 9,788 264 31,834
江苏 13 61 7,191 465 43,962 64 7,772 659 63,369
浙江 11 30 4,231 161 16,530 32 4,497 247 27,172
安徽 16 10 1,327 122 10,210 10 1,327 248 22,357
福建 9 16 2,072 82 8,327 16 2,072 133 14,558
江西 11 27 3,053 167 15,762 27 3,053 277 27,945
山东 17 17 1,931 358 31,341 17 1,931 582 51,501
河南 18 8 1,320 184 17,442 9 1,399 300 29,965
湖北 14 42 5,092 174 16,267 42 5,092 344 34,939
湖南 14 47 5,027 195 20,023 49 5,245 366 40,351
广东 21 151 21,434 859 96,422 152 21,704 1,358 155,237
广西 14 13 2,064 118 14,691 13 2,064 253 31,970
海南 4 9 1,057 48 5,539 9 1,057 77 9,413
重庆 1 14 1,677 123 9,812 14 1,677 175 14,335
四川 21 37 4,455 237 19,393 37 4,455 368 32,397
贵州 9 18 1,815 120 11,029 18 1,815 210 22,006
云南 15 9 954 64 5,243 10 1,160 112 10,962
西藏 5 2 218 13 1,269 2 218 26 2,724
陕西 9 23 2,646 151 14,699 23 2,646 230 23,315
甘肃 14 5 470 61 5,237 5 470 109 10,691
青海 4 4 267 41 3,358 4 267 63 5,787
宁夏 5 3 414 26 2,486 3 414 45 4,276
新疆 13 5 580 53 3,831 6 707 99 8,325
合计 329 739 94,245 5,007 485,080 760 97,520 8,002 805,953
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上海锦江国际酒店发展股份有限公司 2018 年半年度报告
下表列示了公司 2018 年 1 至 6 月中国大陆境内中端酒店和经济型酒店的 RevPAR 情况：
平均房价 平均出租率 RevPAR
（元/间） （%） （元/间）
分类 同比
2018 年 2017 年 2018 年 2017 年 2018 年 2017 年
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（%）
中端酒店 259.95 245.97 80.78 83.68 209.99 205.83 2.02
经济型酒店 158.87 152.92 75.36 78.07 119.72 119.38 0.28
平 均 195.62 177.71 77.24 79.49 151.10 141.26 6.97
（2）中国大陆境外业务运营情况
于 2018 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
25,738 万欧元，比上年同期增长 6.40%。实现归属于母公司所有者的净利润 1,508 万欧元，比上
年同期下降 24.79%。
归属于母公司所有者净利润的下降，主要是法国因未来所适用的企业所得税税率的下调对所
得税费用的影响比上年同期减少等所致。
下表列示了公司截至 2018 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 284 21,806 731 50,808 293 23,018 744 52,051
其中：法国 197 14,194 651 41,804 197 14,194 658 42,395
亚洲 2 208 197 23,213 2 208 268 31,062
美洲 25 5,150 26 5,410
非洲 50 6,232 67 7,966
合计 286 22,014 1,003 85,403 295 23,226 1,105 96,489
下表列示了公司 2018 年 1 至 6 月份中国大陆境外中端酒店和经济型酒店的 RevPAR 情况：
平均房价 平均出租率 RevPAR
（欧元/间） （%） （欧元/间）
分类
2018 年 2017 年 2018 年 2017 年 1 2018 年 2017 年 同比
1至6月 1至6月 1至6月 至6月 1 至 6 月 1 至 6 月 增减（%）
中端酒店 63.27 68.26 54.73 54.90 34.63 37.47 -7.58
经济型酒店 52.60 52.54 66.77 64.62 35.12 33.95 3.45
平 均 55.44 57.26 63.08 61.35 34.97 35.13 -0.46
15
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
预计 2018 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 370,000 万元至
409,000 万元，其中预计公司中国大陆境内业务收入 269,000 万元至 297,000 万元，中国大陆境
外业务收入 13,100 万欧元至 14,500 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 2018 年 1 至 6 月份，食品及餐饮业务实现合并营业收入 11,358 万元，比上年同期下降 8.93%。
食品及餐饮业务合并营业收入同比下降的主要因素，一是从事团膳业务的锦江食品营业收入比上
年同期增长，二是从事中式快餐连锁的锦亚餐饮营业收入比上年同期下降，三是锦江同乐因关闭
1 家门店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 13,364
万元，比上年同期增长 27.06%；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；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 2017 年度股利比上年同期增加等共同影响所致。
(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 6,939,349,148.33 6,289,013,150.53 10.34
营业成本 701,145,623.29 603,775,121.43 16.13
销售费用 3,711,452,919.06 3,631,647,717.77 2.20
管理费用 1,806,991,998.53 1,512,207,360.64 19.49
研发费用 1,531,727.05 0.00 不适用
财务费用 201,118,367.52 218,769,598.00 -8.07
资产减值损失 39,728,669.85 13,767,386.24 188.57
其他收益 25,379,329.13 18,100,017.83 40.22
公允价值变动收益 12,845,935.20 0.00 不适用
资产处置收益(损失) 76,005,404.64 -13,985,068.85 不适用
营业外收入 26,710,189.68 11,844,701.32 125.50
营业外支出 5,280,081.73 9,530,678.49 -44.60
所得税费用 164,437,152.55 18,794,301.05 774.93
经营活动产生的现金流量净额 1,541,924,325.84 1,397,211,235.52 10.36
投资活动产生的现金流量净额 -168,736,824.78 -704,643,142.19 不适用
筹资活动产生的现金流量净额 -4,720,847,301.29 -1,851,466,122.55 不适用
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。
(1)营业收入
本期 6,939,349,148.33 元，上年同期 6,289,013,150.53 元，本期比上年同期增长 10.34%。
主要是卢浮亚洲、卢浮集团、铂涛集团、维也纳酒店等营业收入同比增长所致。
16
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
(2)研发费用
本期 1,531,727.05 元，上年同期 0 元，本期比上年同期增加 1,531,727.05 元。主要是本期
铂涛集团发生软件开发费用所致。
(3)资产减值损失
本期 39,728,669.85 元，上年同期 13,767,386.24 元，本期比上年同期增长 188.57%。主要
是本期铂涛集团计提资产减值损失比上年同期增加，以及上年同期卢浮集团资产减值损失转回等
所致。
(4)其他收益
本期 25,379,329.13 元，上年同期 18,100,017.83 元，本期比上年同期增长 40.22%。主要是
本期收到的政府补助比上年同期增加所致。
(5)公允价值变动收益
本期 12,845,935.20 元，上年同期 0 元，本期比上年同期增加 12,845,935.20 元。主要是法
国卢浮集团根据股权收购协议约定，收购 Sarovar 少数股东股权交易对价公允价值变动所致。
(6)资产处置收益
本期 76,005,404.64 元，上年同期-13,985,068.85 元，本期比上年同期增加 89,990,473.49
元。主要是本期锦江之星子公司完成动迁取得补偿收益所致。
(7)营业外收入
本期 26,710,189.68 元，上年同期 11,844,701.32 元，本期比上年同期增长 125.50%。主要
是收到与日常经营无关的政府补助比上年同期增加所致。
(8)营业外支出
本期 5,280,081.73 元，上年同期 9,530,678.49 元，本期比上年同期下降长 44.60%。主要是
上年同期预提未决诉讼预计损失所致。
(9)所得税费用
本期 164,437,152.55 元，上年同期 18,794,301.05 元，本期比上年同期增长 774.93%。主要
是因法国未来所适用的企业所得税税率下调对所得税费用的影响比上年同期减少所致。
(10)经营活动产生的现金流量净额
本期 1,541,924,325.84 元，上年同期 1,397,211,235.52 元，增长 10.36%，主要是本期三年
期定期存款到期收回存款利息等所致。
(11)投资活动产生的现金流量净额
本期-168,736,824.78 元，上年同期-704,643,142.19 元，现金流量净流出比上年同期减少
535,906,317.41 元，主要是去年同期支付受让维也纳酒店 80%股权尾款，以及卢浮集团支付受让
Sarovar 股权等所致。
(12)筹资活动产生的现金流量净额
本期-4,720,847,301.29 元，上年同期-1,851,466,122.55 元，现金流量净流出比上年同期增
17
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
加 2,869,381,178.74 元，主要是本期购买铂涛集团 12.0001%少数股权，以及上年同期收回质押
存款等所致。
(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五方面的影响为：一是铂涛集团和维也纳酒店因营业收
入的增加，实现净利润比上年同期增加；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比上年同期增加；三是报告期内锦江之星因子公司动迁取得补偿收益；四
是因法国未来所适用的企业所得税税率的下调对 2015 年度收购法国卢浮集团可辨认净资产评估
增值对应的递延所得税负债比上年同期减少；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。
(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
1. 资产及负债状况
单位：元
本期期末 上期期末 本期期末金
数占总资 数占总资 额较上期期
项目名称 本期期末数 上期期末数
产的比例 产的比例 末变动比例
（%） （%） （%）
货币资金 6,522,070,090.94 16.54 9,883,050,065.07 22.69 -34.01
其他应收款 579,752,802.73 1.47 903,597,885.82 2.07 -35.84
持有待售资产 0.00 0.00 9,194,045.82 0.02 不适用
短期借款 25,435,102.87 0.06 1,015,833,514.18 2.33 -97.50
一年内到期的
617,831,418.95 1.57 270,685,433.89 0.62 128.25
非流动负债
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。
(1)货币资金
期末 6,522,070,090.94 元，期初 9,883,050,065.07 元，下降 34.01 %。主要是本期偿还借
款所致。
(2)其他应收款
18
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
期末 579,752,802.73 元，期初 903,597,885.82 元，下降 35.84 %。主要是三年期银行定期
存款已于 5 月份到期应收定期存款利息减少所致。
(3)持有待售资产
期末 0 元，期初 9,194,045.82 元，期末比期初减少 9,194,045.82 元。主要是本期末锦江之
星子公司完成动迁所致。
(4)短期借款
期末 25,435,102.87 元，期初 1,015,833,514.18 元，下降 97.50 %。主要是本期偿还短期银
行借款所致。
(5)一年内到期的非流动负债
期末 617,831,418.95 元，期初 270,685,433.89 元，增长 128.25 %。主要是于一年内到期的
长期借款比上年同期增加所致。
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 34.64 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/48、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 110,804 万元，比上年同期增加 58,189 万元，增长
110.59%。
(1)1 月，本公司出资 1,094,278,050.05 元人民币，支付受让铂涛集团 12.0001%股权款。截
至 2018 年 6 月 30 日，本公司持有铂涛集团 93.0035%股权。
(2) 6 月，本公司全资子公司卢浮集团出资 43,000 欧元，折合人民币 331,160.20 元，支付
受让法国酒店销售平台 Hotels&Preference80%股权交易价格调整款。截至 2018 年 6 月 30 日，法
国卢浮集团持有 Hotels&Preference 80%股权。
(3)6 月，本公司全资子公司卢浮集团出资 1,743,655.95 欧元，折合人民币 13,428,591.86
元，支付受让 Annemasse 100%股权。截至 2018 年 6 月 30 日，法国卢浮集团持有 Annemasse 100%
股权。
(1) 重大的股权投资
√适用 □不适用
19
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
于 2017 年 10 月 20 日，公司与 Prototal 签署《股份转让协议》，公司以人民币 12.048 亿元
收购 Prototal 持有的 Keystone12.0001%的股权。于 2018 年 1 月 12 日，本次交易完成了各项交
割工作，公司持有 Keystone 的股权比例由 81.0034%上升至 93.0035%。
(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
占期末证券
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
证券简称 总投资比例
号 品种 代码 （元） （股） （元） （元）
（%）
1 股票 000166 申万宏源 10,000,000.00 14,969,564 65,416,994.68 6.24 748,478.20
2 股票 000783 长江证券 69,561,409.27 40,000,000 217,199,999.99 20.73 83,376,095.35
3 股票 002186 全聚德 56,408.72 95,608 1,373,886.96 0.13 24,858.08
4 股票 601328 交通银行 1,540,945.00 1,013,771 5,819,045.54 0.56 289,533.00
通过 Ocean
5 BT L.P.持有 396,252,722.55 757,787,019.40 72.34 0.00
之股权投资
合计 477,411,485.54 / 1,047,596,946.57 100.00 84,438,964.63
注：1、“报告期损益”指本公司于报告期内所获得的现金股利收入和出售部分股票的所得税前收
益。
2、于 2017 年 12 月 31 日，本公司持有长江证券 5,300 万股，占长江证券总股本的 0.96%。
于 2018 年 3 月 13 日至 3 月 28 日，公司通过深圳证券交易所系统出售长江证券股份 1,300 万股。
扣除成本和相关交易税费后取得所得税前投资收益人民币 7,737.61 万元。截至 2018 年 6 月 30
日，本公司持有长江证券 4,000 万股，占长江证券总股本的 0.72%。
3、于 2017 年度内，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.。
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
将该股权投资确认为可供出售金融资产。
于 2018 年 3 月，艺龙完成收购 Tongcheng Network，并更名为 Tongcheng-Elong Holdings
Limited。于 2018 年 6 月，同程艺龙向香港交易所递交了申请发行的相关资料。
(五) 重大资产和股权出售
□适用 √不适用
20
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
(六) 主要控股参股公司分析
√适用 □不适用
单位:万元 币种（除特别注明外）:人民币
2018 年 2018 年
2018 年
2018 年 6 月 30 日 2018 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
务酒店的投 100% 5,000 8,306 7,723 1,878
限公司
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 73,670 67,474 9,919
经营、管理
3、上海锦江国际旅馆投资有限公 旅馆业的投
100% 152,500 186,592 46,944 -2,334
司 资
有限服务型
4、时尚之旅酒店管理有限公司 酒店住宿、餐 100% 90,000 97,095 11,889 1,846
饮管理
5、上海锦卢投资管理有限公司 投资管理 100% 35,000 102,417 198,216 11,615
其中子公司：卢浮集团（注 1） 经营酒店及 26,204 19,488 25,738 1,036
100%
（Groupe du Louvre） 餐饮 万欧元 万欧元 万欧元 万欧元
6、Keystone Lodging Holdings 经营酒店及 1
93.0035% 393,069 200,947 13,313
Limited（注 2） 餐饮 万美元
7、维也纳酒店有限公司（注 3） 经营酒店 80% 11,639 88,393 126,945 11,996
8、深圳市百岁村餐饮连锁有限公
餐饮业务 80% 100 32 15,357 -1,095
司（注 3）
经营酒店及
9、上海锦江达华宾馆有限公司 100% 3,170 -1,010 894 -129
餐饮
经营酒店及
10、上海闵行饭店有限公司 100% 769 779 1,362 39
餐饮
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
管理、国内贸 100% 14,993 -7,572 11,581 -923
限公司
易
其中子公司：⑴上海锦江国际食
品餐饮管理有限公 餐饮业务 100% 1,000 1,786 9,134 351
司（注 4）
⑵上海锦亚餐饮管
中西餐饮 100% 6,867 -7,523 1,254 -770
理有限公司（注 4）
⑶上海新亚食品有 生产月饼及
100% 1,142 -1,022 411 -214
限公司（注 4） 冷冻食品
⑷上海锦箸餐饮管
餐饮业务 100% 1,000 -1,615 453 -43
理有限公司（注 4）
⑸上海锦江同乐餐饮
中西餐饮 51% 1,890 -407 559 -108
管理有限公司（注 4）
联营公司：⑴上海吉野家快餐有 1,230
日式快餐 42.815% 419 1,781 -106
限公司（注 4） 万美元
21
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
⑵上海静安面包房有 生产和销售 383
14.63% -902 5,242 -497
限公司（注 4） 面包糕点 万美元
2、上海新亚富丽华餐饮股份有限
中式餐饮 41% 3,500 7,145 14,338 946
公司
三、其他业务（主要部分）：
信息技术开
上海齐程网络科技有限公司
发、技术咨 10% 100,000 54,470 9,101 -2,382
（注 5）
询等
注：1、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。
2、于 2016 年 2 月底，公司完成对铂涛集团 81.0034%股权的交割。于 2018 年 1 月 12 日，公
司完成对铂涛集团 12.0001%股权的交割。交割完成后，公司持有铂涛集团 93.0035%股权。
3、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。
4、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
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。
5、于 2017 年 2 月，本公司出资人民币 100,000,000 元与上海锦江资本管理有限公司、上海
联银创业投资有限公司、上海锦江国际酒店（集团）股份有限公司、西藏弘毅夹层投资管理中心
（有限合伙）、上海国盛集团投资有限公司作为发起人共同投资设立上海齐程网络科技有限公司。
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
22
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
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，由于有限服务型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。
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，特别是在中端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。如果公司旗下各中端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。
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上海锦江国际酒店发展股份有限公司 2018 年半年度报告
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%。
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
24
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
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、维也纳酒店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、维也纳酒店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、维也纳酒店和金广快
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。
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
25
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
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。
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
26
上海锦江国际酒店发展股份有限公司 2018 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
2017 年度股东大会 2018-05-25 www.sse.com.cn 2018-05-26
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
承诺 承诺 承诺 承诺 时间 有履 及时
背景 类型 方 内容 及期 行期 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），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
与重大 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
解决土
资产重 锦江 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
地等产 永久 否 是
组相关 国际 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
权瑕疵
的承诺 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
27
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
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司的全部款项及其他金融
锦江
其他 资产，以及其后存放在锦江国际财务公司的任何款项及其他金融 永久 否 是
国际
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
锦江
发生或可能发生竞争的业务。如锦江酒店集团及其控制的公司在
其他 酒店 永久 否 是
本次重组完成后的经营活动可能在将来与锦江股份发生同业竞争
集团
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
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
28
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
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
报告期内，公司受托经营锦江酒店集团新城饭店分公司、新亚大酒店分公司、青年会大酒店，
共计支付受托经营费用人民币 2,059.20 万元；公司租赁南华亭酒店及白玉兰宾馆，共计支付相关
租赁费用人民币 873.60 万元；并向锦江酒店集团、青年会大酒店、南华亭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共计人民币 3,014.78 万元。
3、 临时公告未披露的事项
√适用 □不适用
单位:元 币种:人民币
关联
关联 关联 占同类交易 关联交
关联交易 交易
关联交易方 关联关系 交易 交易 关联交易金额 金额的比例 易结算
内容 定价
类型 价格 (%) 方式
原则
最终控股公 有限服务
锦江国际及其 提供 市场
司及其控股 型酒店管 334,701.71 0.06 现金
下属企业 劳务 价格
子公司 理费收入
有限服务
最终控股公
锦江国际及其 提供 型酒店房 市场
司及其控股 19,460,195.76 100.00 现金
下属企业 劳务 费核算服 价格
子公司
务收入
29
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
最终控股公 会籍礼包
锦江国际及其 提供 市场
司及其控股 方案及推 18,360,926.61 100.00 现金
下属企业 劳务 价格
子公司 广服务
有限服务
最终控股公
锦江国际及其 提供 型酒店销 市场
司及其控股 159,795.35 0.40 现金
下属企业 劳务 售酒店物 价格
子公司
品
锦江国际、锦江 最终控股公
酒店集团及其 司、母公司 销售 市场
销售食品 1,499,735.67 15.42 现金
下属酒店服务 及其控股子 商品 价格
类企业 公司
最终控股公
锦江国际、锦江
司、母公司
酒店集团及其 销售 采购酒店 市场
及其控股子 745,999.68 0.23 现金
下属酒店服务 商品 物品食品 价格
公司、联营
类企业
企业
最终控股公
锦江国际及其 购买 市场
司及其控股 会籍礼包 2,169,810.18 100.00 现金
下属企业 商品 价格
子公司
最终控股公
锦江国际及其 接受 订房服务 市场
司及其控股 5,685,351.83 6.95 现金
下属企业 劳务 费 价格
子公司
最终控股公
锦江国际及其 接受 技术系统 市场
司及其控股 5,340,686.18 100.00 现金
下属企业 劳务 服务费 价格
子公司
合计 / / 53,757,202.97 4.59 /
公司为锦江酒店集团、锦江国际下属酒店服务类企
关联交易的必要性、持续性、选择与关联方
业提供有限服务型酒店管理，主要是为了扩大市场
（而非市场其他交易方）进行交易的原因
份额。
本公司与日常经营相关的关联交易协议已提交于
关联交易的说明 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）
(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
事项概述 查询索引
于 2017 年 10 月 20 日，公司与 Prototal 签署《股份 请详见公司于 2017 年 10 月 21 日披露的
转 让 协 议 》 ， 公 司 收 购 Prototal 持 有 的 《关于收购控股子公司少数股东股权暨
Keystone12.0001%的股权。经交易双方协商一致，本 关联交易的公告》 公告编号：2017-039）。
次交易价格为人民币 1,204,778,376.39 元（含转股税
款）。 请详见公司于 2018 年 1 月 13 日披露的
于 2018 年 1 月 12 日，本次交易完成了各项交割工作。 《关于收购控股子公司少数股东股权暨
交 割 完 成 后 ， 公 司 持 有 Keystone 的 股 权 比 例 由 关联交易完成交割的公告》（公告编号：
81.0034%上升至 93.0035%。 2018-001）。
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
30
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
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
3、 临时公告未披露的事项
□适用 √不适用
(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
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 146,635 万元人民币，报告期末余额为 148,175 万元人民币。本公司
于 2018 年 5 月 25 日召开的 2017 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 2018
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 15 亿元人民币。2018 年上
半年度发生相应存款利息收入 682 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 24,444 万元人
民币，报告期末余额为 55,094 万元人民币。本公司于 2018 年 5 月 25 日召开的 2017 年度股东大
会审议通过了相关财务公司贷款的决议：公司 2018 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 20 亿元人民币。2018 年上半年度发生相应借款利息支出 1,266 万元人民币。
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上海锦江国际酒店发展股份有限公司 2018 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
担保 是否存 是否为
担保 上市 被担 担保 日期 担保 担保 否已经 担保是 担保逾 联
起始 在反担 关联方
方 公司 保方 金额 (协议 到期日 类型 履行完 否逾期 期金额 关
日 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 0
报告期末对子公司担保余额合计（B） 116,000
公司担保总额情况（包括对子公司的担保）
担保总额（A+B） 116,000
担保总额占公司净资产的比例(%) 9.49
其中：
32
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
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
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、 环境信息情况
(一) 属于环境保护部门公布的重点排污单位的公司及其重要子公司的环保情况说明
□适用 √不适用
(二) 重点排污单位之外的公司的环保情况说明
√适用 □不适用
公司以对社会负责的高度责任心，积极采取措施，努力降低能耗并减少污染排放，促进企业
可持续发展。
新建和改建物业方面，公司要求各酒店采取积极的节能减排措施，减少施工和后期运营过程
中的环境影响。锦江之星建立了《工程模式手册》，对新建与改建的酒店加强绿色节能环保方面
的规范。
酒店运营方面，公司严格遵守《中华人民共和国环境保护法》、《中华人民共和国节约能源
法》等相关环保法律法规，制定并执行《环保管理规定》、《节约能源管理规定》等制度。公司
加强对环境影响如噪声、废气、温室气体和污水等因素的管理。噪声，来源于所有风机、设备机
房、淋水塔和锅炉等设备，公司采用消音法、隔音法、吸音法和其他先进方法等，尽量选用低噪
音设备。废气，主要是锅炉燃烧过程中产生的废气排放，还有厨房废气、汽车废气的排放，对锅
炉主要是改善燃烧，使燃料中的可燃物质全部燃尽，对燃尽后的飞灰采用各种除尘手段（如旋风、
多管、湿法除尘等）加以消除，对厨房废气、汽车废气，根据相关行业部门的技术要求，采取净
化处理措施加以消除。温室气体，公司积极采取节能措施，应用节能技术，减少能源消耗以减少
温室气体排放。污水，主要是企业排放的生活污水，根据国家标准排放，部分酒店处理后直排，
部分酒店通过污水处理装置处理后达标排放到市政管网。公司每年设定并下达能耗计划、各项节
33
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
能指标及考核要求，各用能企业建立和完善各级领导和部门节能目标责任制，层层分解落实，切
实采取措施，确保各项节能目标计划的完成。各用能企业应当在保证安全和服务功能的前提下，
选用能源利用效率高、能耗低的产品和设备以及相应的服务方式、服务项目。各用能企业对节能
工作进行定期考评，并依据考评结果进行表彰或批评。对各用能企业应积极开展节能宣传和教育
培训工作，增强企业各级人员的节能意识。
(三) 重点排污单位之外的公司未披露环境信息的原因说明
□适用 √不适用
(四) 报告期内披露环境信息内容的后续进展或变化情况的说明
□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，会计政策、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
备注
会计政策变更的内容和原因
(受重要影响的报表项目名称和金额)
2018 年 6 月 15 日，财政部发 根据《关于修订印发 2018 年度一般企业财务报表格式的通知》的
布了《关于修订印发 2018 年 要求，公司将原“应收票据”及“应收账款”项目归并至新增的
度一般企业财务报表格式的 “应收票据及应收账款”项目列示；原“应收利息”及“应收股
通知》（财会[2018]15 号）， 利”项目归并至“其他应收款”项目列示；原“固定资产清理”
公司作为执行企业会计准则 项目归并至“固定资产”项目列示；原“工程物资”项目归并至
的非金融企业，且尚未执行新 “在建工程”项目列示；原“应付票据”及“应付账款”项目归
金融准则和新收入准则，应当 并至新增的“应付票据及应付账款”项目列示；原“应付利息”
按照企业会计准则和《通知》 及“应付股利”项目归并至“其他应付款”项目列示；原计入“管
附件 1 的要求编制财务报表。 理费用”中的研发费用分拆单独列示，新增“研发费用”项目；
在“财务费用”项目下增加“其中：利息费用”和“利息收入”
行项目进行列报，调整了利润表部分项目的列报位置。对于上述
列报项目的变更，本公司采用追溯调整法进行会计处理，并对上
年比较数据进行调整。
(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
34
上海锦江国际酒店发展股份有限公司 2018 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) 43,567（其中：A 股股东 18,710，
B 股股东 24,857）
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
质押或冻结情况
股东名称 报告期内 期末持股 比例 持有有限售条 股东
股份 数量
（全称） 增减 数量 (%) 件股份数量 性质
状态
上海锦江国际酒店(集团)股份有
482,007,225 50.32 77,196,290 无 国有法人
限公司
弘毅（上海）股权投资基金中心
-2,311,600 118,014,376 12.32 20,325,976 质押 110,746,611 境外法人
（有限合伙）
中国长城资产管理股份有限公司 -2,800 15,244,482 1.59 15,244,482 无 国有法人
上海国盛集团投资有限公司 15,244,482 1.59 15,244,482 无 国有法人
华安未来资产－工商银行－安信 境内非国
15,244,482 1.59 15,244,482 无
信托股份有限公司 有法人
INVESCO FUNDS SICAV 10,521,626 1.10 未知 境外法人
上海国际集团资产管理有限公司 10,162,988 1.06 10,162,988 无 国有法人
中国工商银行股份有限公司－中
证上海国企交易型开放式指数证 -307,260 4,508,075 0.47 无 其他
券投资基金
香港中央结算有限公司 -10,271,270 4,409,521 0.46 无 未知
35
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
INVESCO PERPETUAL HONG KONG &
4,241,647 0.44 未知 境外法人
CHINA FUND
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)股份有限公司 404,810,935 人民币普通股 404,810,935
弘毅（上海）股权投资基金中心（有限合伙） 97,688,400 人民币普通股 97,688,400
INVESCO FUNDS SICAV 10,521,626 境内上市外资股 10,521,626
中国工商银行股份有限公司－中证上海国企交
4,508,075 人民币普通股 4,508,075
易型开放式指数证券投资基金
香港中央结算有限公司 4,409,521 人民币普通股 4,409,521
INVESCO PERPETUAL HONG KONG & CHINA FUND 4,241,647 境内上市外资股 4,241,647
NORGES BANK 3,579,513 境内上市外资股 3,579,513
VANGUARD EMERGING MARKETS STOCK INDEX FUND 3,292,550 境内上市外资股 3,292,550
韩国银行－自有资金 3,073,393 人民币普通股 3,073,393
BOCI SECURITIES LIMITED 2,990,257 境内上市外资股 2,990,257
上述股东关联关系或一致行动的说明 INVESCO FUNDS SICAV 与 INVESCO PERPETUAL HONG KONG & CHINA 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。
表决权恢复的优先股股东及持股数量的说明
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
有限售条件股东名称 可上市交易 新增可上市 限售条件
号 条件股份数量
时间 交易股份数量
上海锦江国际酒店（集团）股份有 自发行结束之日起
1 77,196,290 2019-08-05
限公司 36 个月不得转让
弘毅（上海）股权投资基金中心（有 自发行结束之日起
2 20,325,976 2019-08-05
限合伙） 36 个月不得转让
自发行结束之日起
3 中国长城资产管理股份有限公司 15,244,482 2019-08-05
36 个月不得转让
自发行结束之日起
4 上海国盛集团投资有限公司 15,244,482 2019-08-05
36 个月不得转让
华安未来资产－工商银行－安信 自发行结束之日起
5 15,244,482 2019-08-05
信托股份有限公司 36 个月不得转让
自发行结束之日起
6 上海国际集团资产管理有限公司 10,162,988 2019-08-05
36 个月不得转让
上述股东关联关系或一致行动的说明 “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
36
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
三、 控股股东或实际控制人变更情况
□适用 √不适用
37
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
第七节 优先股相关情况
□适用 √不适用
38
上海锦江国际酒店发展股份有限公司 2018 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
卢正刚 董事 离任
杨少锋 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
卢正刚先生因到龄退休，辞去公司第八届董事会董事职务。
三、其他说明
□适用 √不适用
39
上海锦江国际酒店发展股份有限公司 2018 年半年度报告
第九节 公司债券相关情况
□适用 √不适用
40
上海锦江国际酒店发展股份有限公司 2018 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 2018 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（18）第 R00082 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）
41
上海锦江国际酒店发展股份有限公司 2018 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：2018 年 8 月 29 日
42
审阅报告
德师报(阅)字(18)第 R00082 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 2018 年 6
月 30 日的公司及合并资产负债表、2018 年 1 月 1 日至 2018 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
花 盛
2018 年 8 月 29 日
43
上海锦江国际酒店发展股份有限公司
2018 年 6 月 30 日
合并资产负债表
人民币元
2018 年 2017 年 2018 年 2017 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 6,522,070,090.94 9,883,050,065.07 短期借款 (五)17 25,435,102.87 1,015,833,514.18
应收票据及应收账款 (五)2 1,072,546,941.74 940,027,901.79 衍生金融负债 3,564,106.96 4,391,173.45
预付款项 (五)3 293,910,386.50 327,214,714.29 应付票据及应付账款 (五)18 2,031,379,121.43 2,137,025,018.83
其他应收款 (五)4 579,752,802.73 903,597,885.82 预收款项 (五)19 946,983,434.38 873,224,463.95
存货 (五)5 81,703,430.04 75,603,674.66 应付职工薪酬 (五)20 888,522,831.06 910,976,609.47
持有待售资产 - 9,194,045.82 应交税费 (五)21 410,370,154.86 410,111,158.48
其他流动资产 (五)6 350,537,695.22 270,675,579.51 其他应付款 (五)22 1,655,713,828.04 1,316,321,357.04
一年内到期的非流动负债 (五)23 617,831,418.95 270,685,433.89
流动资产合计 8,900,521,347.17 12,409,363,866.96 流动负债合计 6,579,799,998.55 6,938,568,729.29
非流动资产： 非流动负债：
可供出售金融资产 (五)7 1,084,896,368.37 1,108,918,310.79 长期借款 (五)24 16,612,062,893.81 18,996,766,220.93
长期股权投资 (五)8 361,116,363.48 416,518,594.99 长期应付款 (五)25 265,824,599.39 255,256,905.93
固定资产 (五)9 6,515,231,160.20 6,747,317,643.86 长期应付职工薪酬 (五)26 64,870,080.23 59,112,683.77
在建工程 (五)10 718,742,111.22 679,151,417.17 预计负债 (五)27 56,301,477.80 58,598,004.21
无形资产 (五)11 7,335,935,336.23 7,472,301,178.78 递延所得税负债 (五)14 2,295,990,625.21 2,434,472,013.64
商誉 (五)12 11,301,268,832.00 11,348,072,548.12 其他非流动负债 (五)28 149,356,343.22 201,184,640.33
长期待摊费用 (五)13 2,537,278,375.00 2,672,827,684.75 非流动负债合计 19,444,406,019.66 22,005,390,468.81
递延所得税资产 (五)14 593,993,799.49 614,997,931.92 负债合计 26,024,206,018.21 28,943,959,198.10
其他非流动资产 (五)15 89,732,567.30 90,227,114.10
股东权益：
非流动资产合计 30,538,194,913.29 31,150,332,424.48 股本 (五)29 957,936,440.00 957,936,440.00
资本公积 (五)30 8,043,687,495.85 8,710,565,290.98
其他综合收益 (五)31 459,595,945.87 496,729,741.73
盈余公积 (五)32 653,878,905.35 653,878,905.35
未分配利润 (五)33 2,132,156,983.74 2,165,192,559.23
归属于母公司
12,247,255,770.81 12,984,302,937.29
所有者权益合计
少数股东权益 1,167,254,471.44 1,631,434,156.05
股东权益合计 13,414,510,242.25 14,615,737,093.34
资产总计 39,438,716,260.46 43,559,696,291.44 负债和股东权益总计 39,438,716,260.46 43,559,696,291.44
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
44
上海锦江国际酒店发展股份有限公司
2018 年 6 月 30 日
公司资产负债表
人民币元
2018 年 2017 年 2018 年 2017 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 1,164,502,942.97 4,948,403,936.97 短期借款 (十四)15 - 1,000,000,000.00
应收票据及应收账款 (十四)2 20,870,199.82 18,182,319.08 应付票据及应付账款 62,168,859.85 95,884,824.24
预付款项 1,060,008.99 849,814.26 预收款项 4,880,513.80 9,843,291.67
其他应收款 (十四)3 305,445,950.61 530,275,324.76 应付职工薪酬 (十四)16 21,629,611.54 27,106,987.93
存货 (十四)4 3,524,528.96 3,516,685.46 应交税费 (十四)17 4,294,220.61 8,947,785.18
其他流动资产 (十四)5 3,615,249.27 6,383,549.81 其他应付款 (十四)18 326,150,530.10 183,305,020.56
(十四)
一年内到期的非流动负债 335,695,200.00 220,695,200.00
19、20
流动资产合计 1,499,018,880.62 5,507,611,630.34 流动负债合计 754,818,935.90 1,545,783,109.58
非流动资产： 非流动负债：
可供出售金融资产 317,209,289.94 532,874,140.15 长期借款 (十四)19 5,819,000,000.00 7,739,000,000.00
长期应收款 (十四)6 10,328,000.00 10,328,000.00 递延所得税负债 (十四)13 49,651,075.64 98,694,929.07
长期股权投资 (十四)7 15,613,699,944.70 14,466,016,952.62 其他非流动负债 (十四)20 3,429,800.00 3,760,350.00
固定资产 (十四)8 94,133,537.22 94,978,011.07 非流动负债合计 5,872,080,875.64 7,841,455,279.07
在建工程 (十四)9 25,310,029.35 60,159,254.99 负债合计 6,626,899,811.54 9,387,238,388.65
无形资产 (十四)10 51,273,553.77 52,456,213.95 股东权益：
长期待摊费用 (十四)11 214,052,988.92 200,934,981.79 股本 957,936,440.00 957,936,440.00
其他非流动资产 (十四)12 210,000,000.00 250,000,000.00 资本公积 (十四)21 9,189,446,079.42 9,189,446,079.42
其他综合收益 (十四)22 175,176,449.25 324,128,412.57
非流动资产合计 16,536,007,343.90 15,667,747,554.57 盈余公积 653,878,905.35 653,878,905.35
未分配利润 431,688,538.96 662,730,958.92
股东权益合计 11,408,126,412.98 11,788,120,796.26
资产总计 18,035,026,224.52 21,175,359,184.91 负债和股东权益总计 18,035,026,224.52 21,175,359,184.91
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
45
上海锦江国际酒店发展股份有限公司
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
合并利润表
人民币元
2018 年 1 月 1 日 2017 年 1 月 1 日
项目 附注 至 2018 年 6 月 30 日 至 2017 年 6 月 30 日
止期间 止期间
一、营业收入 (五)34 6,939,349,148.33 6,289,013,150.53
减：营业成本 (五)34、35 701,145,623.29 603,775,121.43
税金及附加 (五)36 111,967,842.68 106,615,468.76
销售费用 (五)35 3,711,452,919.06 3,631,647,717.77
管理费用 (五)35 1,806,991,998.53 1,512,207,360.64
研发费用 (五)35 1,531,727.05 -
财务费用 (五)37 201,118,367.52 218,769,598.00
其中：利息费用 260,142,174.91 297,470,093.36
利息收入 97,897,663.01 120,393,846.73
资产减值损失 (五)38 39,728,669.85 13,767,386.24
加：其他收益 (五)39 25,379,329.13 18,100,017.83
投资收益 (五)40 235,876,720.30 261,207,062.43
其中：对联营企业和合营企业的投资收益 66,728,054.64 53,411,404.56
公允价值变动收益 (五)41 12,845,935.20 -
资产处置收益(损失) (五)42 76,005,404.64 (13,985,068.85)
二、营业利润 715,519,389.62 467,552,509.10
加：营业外收入 (五)43 26,710,189.68 11,844,701.32
减：营业外支出 (五)44 5,280,081.73 9,530,678.49
三、利润总额 736,949,497.57 469,866,531.93
减：所得税费用 (五)45 164,437,152.55 18,794,301.05
四、净利润 572,512,345.02 451,072,230.88
其中：持续经营净利润 572,512,345.02 451,072,230.88
归属于母公司所有者的净利润 503,408,830.91 412,453,689.41
少数股东损益 69,103,514.11 38,618,541.47
五、其他综合收益(损失)的税后净额 (五)31 (31,393,154.69) (43,184,101.50)
归属母公司所有者的其他综合收益(损失)的税后净额 (37,133,795.86) (52,842,589.32)
(一)以后不能重分类进损益的其他综合收益(损失) - -
重新计量设定受益计划净负债或净资产的变动 - -
(二)以后将重分类进损益的其他综合收益(损失) (37,133,795.86) (52,842,589.32)
1.权益法下在被投资单位以后将重分类进损益的其他
126,458.24 186,422.60
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 3,184,824.00 (104,218,024.33)
3.现金流量套期损益的有效部分 459,580.04 829,597.00
4.外币财务报表折算差额 (40,904,658.14) 50,359,415.41
归属于少数股东的其他综合收益(损失)的税后净额 5,740,641.17 9,658,487.82
六、综合收益总额 541,119,190.33 407,888,129.38
归属于母公司所有者的综合收益总额 466,275,035.05 359,611,100.09
归属于少数股东的综合收益总额 74,844,155.28 48,277,029.29
七、每股收益：
(一)基本每股收益 (五)50 0.5255 0.4306
(二)稀释每股收益 (五)50 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
46
上海锦江国际酒店发展股份有限公司
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
公司利润表
人民币元
2018 年 1 月 1 日 2017 年 1 月 1 日
项目 附注 至 2018 年 6 月 30 日 至 2017 年 6 月 30 日
止期间 止期间
一、营业收入 (十四)23 142,435,490.67 116,945,723.92
减：营业成本 (十四)23、24 18,213,798.99 15,285,367.42
税金及附加 1,661,292.77 658,575.63
销售费用 (十四)24 98,922,319.68 89,464,577.51
管理费用 (十四)24 47,110,569.49 59,996,304.43
财务费用 (十四)25 101,920,094.45 100,959,721.34
其中：利息费用 164,325,688.60 200,037,584.35
利息收入 67,923,517.62 110,022,324.63
资产减值损失 994,469.11 36,320.87
加：其他收益 (十四)26 12,191,550.00 342,650.00
投资收益 (十四)27 420,137,125.60 392,981,341.22
其中：对联营企业和合营企业的投资收益 64,223,485.48 52,153,017.11
公允价值变动收益 - -
资产处置收益(损失) (21,515.98) (778.30)
二、营业利润 305,920,105.80 243,868,069.64
加：营业外收入 88,681.65 360,980.73
减：营业外支出 - 3,080.68
三、利润总额 306,008,787.45 244,225,969.69
减：所得税费用 606,801.01 606,189.45
四、净利润 305,401,986.44 243,619,780.24
五、其他综合收益(损失)的税后净额 (148,951,963.32) (104,218,024.33)
以后将重分类进损益的其他综合收益(损失) (148,951,963.32) (104,218,024.33)
可供出售金融资产公允价值变动损益 (148,951,963.32) (104,218,024.33)
六、综合收益总额 156,450,023.12 139,401,755.91
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
47
上海锦江国际酒店发展股份有限公司
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
合并现金流量表
人民币元
2018 年 1 月 1 日 2017 年 1 月 1 日
项目 附注 至 2018 年 6 月 30 日 至 2017 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 7,313,470,592.95 6,444,479,645.53
收到的税费返还 - 4,473,060.00
收到其他与经营活动有关的现金 (五)46(1) 614,534,837.48 213,275,922.50
经营活动现金流入小计 7,928,005,430.43 6,662,228,628.03
购买商品、接受劳务支付的现金 2,156,527,457.37 1,478,366,206.49
支付给职工以及为职工支付的现金 2,315,952,892.44 1,960,391,938.38
支付的各项税费 528,980,611.60 431,683,406.46
支付其他与经营活动有关的现金 (五)46(2) 1,384,620,143.18 1,394,575,841.18
经营活动现金流出小计 6,386,081,104.59 5,265,017,392.51
经营活动产生的现金流量净额 (五)47(1) 1,541,924,325.84 1,397,211,235.52
二、投资活动产生的现金流量：
收回投资收到的现金 99,551,209.26 111,777,935.18
取得投资收益收到的现金 164,649,135.96 139,371,166.16
处置固定资产、无形资产和其他长期资产收回的现金净额 20,835,443.14 10,435,688.24
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 (五)46(3) - 45,000,000.00
投资活动现金流入小计 285,035,788.36 307,310,690.78
购买子公司和其他经营单位支付的现金净额 (五)47(2) 12,696,646.76 418,742,874.09
处置子公司和其他经营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现金 438,813,404.40 485,018,057.68
投资所支付的现金 (五)46(4) - 101,150,002.00
支付其他与投资活动有关的现金 (五)46(5) 2,262,561.98 6,353,619.89
投资活动现金流出小计 453,772,613.14 1,011,953,832.97
投资活动产生的现金流量净额 (168,736,824.78) (704,643,142.19)
三、筹资活动产生的现金流量：
取得借款收到的现金 (五)46(6) 427,329,371.16 6,218,431,860.49
收到其他与筹资活动有关的现金 (五)46(7) - 1,472,378,295.96
筹资活动现金流入小计 427,329,371.16 7,690,810,156.45
偿还债务支付的现金 (五)46(8) 3,253,404,260.20 8,757,456,566.03
分配股利、利润或偿付利息支付的现金 794,848,079.30 776,212,062.16
其中：子公司支付给少数股东的股利、利润 1,123,258.62 1,425,231.93
支付其他与筹资活动有关的现金 (五)46(9) 1,099,924,332.95 8,607,650.81
筹资活动现金流出小计 5,148,176,672.45 9,542,276,279.00
筹资活动产生的现金流量净额 (4,720,847,301.29) (1,851,466,122.55)
四、汇率变动对现金及现金等价物的影响 (10,246,827.96) 39,845,691.83
五、现金及现金等价物净增加(减少)额 (3,357,906,628.19) (1,119,052,337.39)
加：期初现金及现金等价物余额 (五)47(3) 9,879,461,634.13 6,358,092,062.93
六、期末现金及现金等价物余额 (五)47(3) 6,521,555,005.94 5,239,039,725.54
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
48
上海锦江国际酒店发展股份有限公司
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
公司现金流量表
人民币元
2018 年 1 月 1 日 2017 年 1 月 1 日
项目 附注 至 2018 年 6 月 30 日 至 2017 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 143,596,568.87 117,264,078.85
收到其他与经营活动有关的现金 486,453,760.22 70,742,648.22
经营活动现金流入小计 630,050,329.09 188,006,727.07
购买商品、接受劳务支付的现金 45,765,441.77 33,912,505.74
支付给职工以及为职工支付的现金 60,677,208.05 58,024,562.65
支付的各项税费 3,280,511.91 12,601,101.30
支付其他与经营活动有关的现金 23,644,816.31 27,920,033.48
经营活动现金流出小计 133,367,978.04 132,458,203.17
经营活动产生的现金流量净额 (十四)29(1) 496,682,351.05 55,548,523.90
二、投资活动产生的现金流量：
收回投资收到的现金 136,700,227.56 132,784,050.62
取得投资收益收到的现金 210,249,275.25 190,518,036.49
处置固定资产、无形资产和其他长期资产收回的现金净额 42,254.77 230.00
收到其他与投资活动有关的现金 12,619,807.71 5,300,000.00
投资活动现金流入小计 359,611,565.29 328,602,317.11
购买子公司和其他经营单位支付的现金净额 - 174,960,000.00
购建固定资产、无形资产和其他长期资产支付的现金 39,386,695.55 34,231,368.83
投资所支付的现金 1,094,278,050.05 100,000,000.00
支付其他与投资活动有关的现金 (十四)28(1) 2,262,561.98 6,353,619.89
投资活动现金流出小计 1,135,927,307.58 315,544,988.72
投资活动产生的现金流量净额 (776,315,742.29) 13,057,328.39
三、筹资活动产生的现金流量：
取得借款收到的现金 400,000,000.00 1,530,000,000.00
收到其他与筹资活动有关的现金 (十四)28(2) - 1,472,378,295.96
筹资活动现金流入小计 400,000,000.00 3,002,378,295.96
偿还债务支付的现金 3,205,000,000.00 3,850,000,000.00
分配股利、利润或偿付利息支付的现金 702,359,061.91 685,893,992.21
筹资活动现金流出小计 3,907,359,061.91 4,535,893,992.21
筹资活动产生的现金流量净额 (3,507,359,061.91) (1,533,515,696.25)
四、汇率变动对现金及现金等价物的影响 3,091,459.15 (10,644,223.08)
五、现金及现金等价物净增加(减少)额 (3,783,900,994.00) (1,475,554,067.04)
加：期初现金及现金等价物余额 (十四)29(2) 4,948,403,936.97 2,827,562,677.11
六、期末现金及现金等价物余额 (十四)29(2) 1,164,502,942.97 1,352,008,610.07
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
49
上海锦江国际酒店发展股份有限公司
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
合并股东权益变动表
人民币元
2018 年 1 月 1 日至 2018 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 8,710,565,290.98 496,729,741.73 653,878,905.35 2,165,192,559.23 1,631,434,156.05 14,615,737,093.34
加：会计政策变更 - - - - - - -
二、本期期初余额 957,936,440.00 8,710,565,290.98 496,729,741.73 653,878,905.35 2,165,192,559.23 1,631,434,156.05 14,615,737,093.34
三、本期增减变动金额
(一)综合收益(损失)总额 - - (37,133,795.86) - 503,408,830.91 74,844,155.28 541,119,190.33
(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 - - - - - - -
4. 收购少数股东股权(附注(七)2) - (666,877,795.13) - - - (537,900,581.26) (1,204,778,376.39)
(三)利润分配
1．提取盈余公积 - - - - - - -
2．对股东的分配 - - - - (536,444,406.40) (1,123,258.63) (537,567,665.03)
(四)所有者权益内部结转 - - - - - - -
(五)专项储备 - - - - - - -
(六)其他 - - - - - - -
四、本期期末余额 957,936,440.00 8,043,687,495.85 459,595,945.87 653,878,905.35 2,132,156,983.74 1,167,254,471.44 13,414,510,242.25
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 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 - - - - - (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 - - - - - 22,596,408.10 22,596,408.10
2．处置子公司 - - - - - (10,672,845.54) (10,672,845.54)
3．其他 - (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
51
上海锦江国际酒店发展股份有限公司
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
公司股东权益变动表
人民币元
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间 2017 年 1 月 1 日至 2017 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 9,189,446,079.42 324,128,412.57 653,878,905.35 662,730,958.92 11,788,120,796.26 957,936,440.00 9,224,047,247.80 496,039,633.30 620,398,935.89 821,220,724.96 12,119,642,981.95
加：会计政策变更 - - - - - - - - - - - -
二、本期期初余额 957,936,440.00 9,189,446,079.42 324,128,412.57 653,878,905.35 662,730,958.92 11,788,120,796.26 957,936,440.00 9,224,047,247.80 496,039,633.30 620,398,935.89 821,220,724.96 12,119,642,981.95
三、本期增减变动金额
(一)综合收益(损失)总额 - - (148,951,963.32) - 305,401,986.44 156,450,023.12 - - (104,218,024.33) - 243,619,780.24 139,401,755.91
(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 - - - - (536,444,406.40) (536,444,406.40) - - - - (459,809,491.20) (459,809,491.20)
(四)所有者权益内部结转 - - - - - - - - - - - -
(五)专项储备 - - - - - - - - - - - -
(六)其他 - - - - - - - (34,601,168.38) - - - (34,601,168.38)
四、本期期末余额 957,936,440.00 9,189,446,079.42 175,176,449.25 653,878,905.35 431,688,538.96 11,408,126,412.98 957,936,440.00 9,189,446,079.42 391,821,608.97 620,398,935.89 605,031,014.00 11,764,634,078.28
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
财务报表附注
2018 年 1 月 1 日至 2018 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。于 2018 年 1 月 12 日，公司收购 Keystone 12.0001%少数股东股权。于 2018 年 6 月 30 日，公司合计
持有 Keystone 93.0035%的股权。
53
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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 2018 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 2018 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。
持续经营
本集团对自 2018 年 6 月 30 日起 12 个月的持续经营能力进行了评价，未发现对持续经营能力产生重大怀
疑的事项和情况。因此，本财务报表系在持续经营假设的基础上编制。
54
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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 2018 年 1 月 1 日至 2018 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 2018 年 1
月 1 日起至 2018 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。
55
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
当合并协议中约定根据未来一项或有事项的发生，购买方需追加合并对价时，本集团将合并协议约定的
或有对价确认为一项负债，作为企业合并转移对价的一部分，按照其在购买日的公允价值计入企业合并
成本。购买日后 12 个月内，若出现对购买日已存在情况的新的或者进一步证据而需要调整或有对价的，
将予以确认并对原计入商誉的金额进行调整。其他情况下发生的或有对价变化或调整，对于负债性质的
或有对价，按照《企业会计准则第 22 号—金融工具确认和计量》或《企业会计准则第 13 号—或有事项》
计量，发生的变化或调整计入当期损益。依据合并协议，本集团于合并财务报表中将需要按照一定价格
收购少数股东所持有的子公司少数股东权益的义务，确认为一项以公允价值计量的金融负债，并抵减本
集团的资本公积。
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。
合并当期期末，如合并中取得的各项可辨认资产、负债及或有负债的公允价值或企业合并成本只能暂时
确定的，则以所确定的暂时价值为基础对企业合并进行确认和计量。购买日后 12 个月内对确认的暂时价
值进行调整的，视为在购买日确认和计量。
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。
56
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
6、合并财务报表的编制方法 - 续
合并财务报表的编制方法 - 续
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。
通过多次交易分步取得被购买方的股权，最终形成非同一控制下的企业合并的，分别是否属于“一揽
子交易”进行处理：属于“一揽子交易”的，将各项交易作为一项取得控制权的交易进行会计处理。不
属于“一揽子交易”的，在购买日作为取得控制权的交易进行会计处理，购买日之前持有的被购买方的
股权按该股权在购买日的公允价值进行重新计量，公允价值与账面价值之间的差额计入当期损益；购买
日前持有的被购买方的股权涉及权益法核算下的其他综合收益、其他所有者权益变动的，转为购买日所
属当期收益。
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。
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。
57
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(三) 重要会计政策和会计估计 - 续
8、外币业务和外币报表折算 - 续
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。
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.以公允价值计量且其变动计入当期损益的金融资产
以公允价值计量且其变动计入当期损益的金融资产包括交易性金融资产和指定为以公允价值计量且其变
动计入当期损益的金融资产。
58
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
9.2 金融资产的分类、确认和计量 - 续
9.2.1.以公允价值计量且其变动计入当期损益的金融资产 - 续
满足下列条件之一的金融资产划分为交易性金融资产：(1)取得该金融资产的目的，主要是为了近期内出
售；(2)初始确认时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。
符合下述条件之一的金融资产，在初始确认时可指定为以公允价值计量且其变动计入当期损益的金融资
产：(1)该指定可以消除或明显减少由于该金融资产的计量基础不同所导致的相关利得或损失在确认或计
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，对该金融资产所在的金融
资产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资产采用公允价值进行后续计量，公允价值变动形成的利
得或损失以及与该等金融资产相关的股利和利息收入计入当期损益。
9.2.2 贷款和应收款项
贷款和应收款项是指在活跃市场中没有报价、回收金额固定或可确定的非衍生金融资产。本集团划分为
贷款和应收款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。
9.2.3 可供出售金融资产
可供出售金融资产包括初始确认时即被指定为可供出售的非衍生金融资产以及除了以公允价值计量且
其变动计入当期损益的金融资产、贷款和应收款项、持有至到期投资以外的金融资产。
可供出售金融资产采用公允价值进行后续计量，公允价值变动形成的利得或损失，除减值损失和外币货
币性金融资产与摊余成本相关的汇兑差额计入当期损益外，确认为其他综合收益，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。
59
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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。
60
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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。
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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
2018 年 1 月 1 日至 2018 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。
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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
2018 年 1 月 1 日至 2018 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 账龄分析法
管理业务的应收账款
中国大陆境外有限服务型酒店营运及 账龄分析法
管理业务的应收账款
食品及餐饮业务 本集团认为食品及餐饮业务应收账款坏账风险较低，对于该组
合不计提坏账准备
63
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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 其发生了特殊事项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。
64
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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。
65
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(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。
66
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(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。
67
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(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。
68
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(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。
69
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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。
70
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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动迁补助、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，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锦江之星产业扶持资金和奖励补助，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。
与本集团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。与本集团日常活动无关的政府
补助，计入营业外收支。
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。
71
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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。
72
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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。
73
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
本集团从编制本财务报表起执行财政部于 2018 年 6 月 15 日颁布的《关于修订印发 2018 年度一般企业财
务报表格式的通知》(财会(2018)15 号，以下简称“财会 15 号文件”)。财会 15 号文件对资产负债表和
利润表的列报项目进行了修订，新增了“应收票据及应收账款”、“应付票据及应付账款”、“研发费用”
行项目，修订了“其他应收款”、“固定资产”、“在建工程”、“其他应付款”、“长期应付款”、“管理费用”
行项目的列报内容，减少了“应收票据”、“应收账款”、“应收股利”、“应收利息”、“固定资产清理”、“工
程物资”、“应付票据”、“应付账款”、“应付利息”、“应付股利”及“专项应付款”行项目，在“财务费
用”项目下增加“其中：利息费用”和“利息收入”行项目进行列报，调整了利润表部分项目的列报位
置。对于上述列报项目的变更，本集团采用追溯调整法进行会计处理，并对上年比较数据进行了追溯调
整。
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。
74
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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)12。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。
75
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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：
5%或 6%或
增值税 销项税额减可抵扣进项税后余额
11%(10%)或 17%(16%) (注 1)
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 15%或 25%(注 2)
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 3)
企业增值税(CVAE) 法国税法下企业价值增加金额 0% - 1.5%
注 1：根据财政部与税务总局关于调整增值税税率的通知(财税[2018]32 号)，自 2018 年 5 月 1 日起，纳
税人发生增值税应税销售行为，原适用 17%和 11%税率的，税率分别调整为 16%和 10%。
注 2：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。
广州赛文软件开发有限公司于 2017 年 12 月 11 日被续评为高新技术企业，自 2018 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%。
76
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(四) 税项 - 续
主要税种及税率 - 续
注 3：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 2017 年相关财政法令，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%，根据法国 2018 年相关财政法令，自 2020 年开始，
GDL 所适用的企业所得税税率将从 28.92%逐步变更为 25.83%。
于 2018 年 1 月，Keystone 及其下属 6 家注册在中国境外的企业(7Days Group Holdings Limited、7
Days Inn Group (HK) Limited、Huan Peng Hotel Management (HK) Limited、Plateno Information and
Technology Development (HK) Limited、Plateno Supply Chain Management (HK) Limited 及 Chujian
(HK) Limited)，经国家税务总局确认，成为境外注册中资控股居民企业，适用 25%的所得税税率。
除上述 Keystone 及其下属 6 家注册在中国境外的企业之外，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 34.43%。
(五) 合并财务报表项目注释
1、货币资金
人民币元
2018 年 6 月 30 日 2017 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 12,714,367.78 19,019,450.76
欧元 - - - 3,261.02 7.8023 25,443.46
银行存款(注 1)：
人民币 4,015,860,987.25 6,966,977,128.10
美元 41,295,767.52 6.6166 273,237,575.37 96,976,155.73 6.5342 633,662,836.37
欧元 68,139,795.49 7.6515 521,371,645.18 79,811,320.96 7.8023 622,711,869.53
英镑 8,368,743.98 8.6360 72,272,510.80 4,746,118.56 8.7963 41,748,185.84
雷亚尔 4,513,000.00 1.7049 7,694,122.00 7,628,000.00 1.9638 14,980,101.78
兹罗提 70,117,016.75 1.7497 122,684,736.72 56,315,120.78 1.8679 105,192,115.60
摩洛哥迪拉姆 1,486,000.00 0.6908 1,026,555.53 1,077,000.00 0.6952 748,737.15
印尼卢比 2,355,793,627.17 0.0005 1,082,433.26 901,172,506.94 0.0005 434,006.82
港币 3,957,936.78 0.8431 3,336,939.10 5,793,244.65 0.8359 4,842,573.23
泰铢 1,635,000.00 0.1984 324,392.65 - - -
韩元 258,767,000.00 0.0059 1,526,895.32 56,656,697.00 0.0061 345,458.80
印度卢比 74,928,000.00 0.0959 7,183,185.59 54,731,000.00 0.1018 5,574,337.27
肯尼亚先令 3,825.35 0.0383 146.36 6,886,959.95 0.0633 435,652.49
其他金融机构存款(注 2)：
人民币 1,481,753,598.03 1,466,352,167.87
合计 6,522,070,090.94 9,883,050,065.07
注 1： 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 零 元 ( 期 初 余 额 ﹕ 人 民 币
3,073,345.94 元)。
本集团上述银行存款中包含保函保证金人民币 515,085.00 元(年初余额：人民币 515,085.00 元)。
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。
77
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
2、应收票据及应收账款
于 2018 年 6 月 30 日及 2017 年 12 月 31 日，本集团应收票据余额为零。
(1) 应收账款分类披露：
人民币元
2018 年 6 月 30 日 2017 年 12 月 31 日
种类
账面余额 坏账准备 账面余额 坏账准备
计提 账面价值 计提 账面价值
比例 比例
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
合计提坏账准备的 1,225,192,727.01 97.95 178,322,887.71 14.55 1,046,869,839.30 1,083,703,373.24 98.28 162,591,568.89 15.00 921,111,804.35
应收账款
单项金额不重大但
单独计提坏账准备 25,688,814.64 2.05 11,712.20 0.05 25,677,102.44 18,928,574.14 1.72 12,476.70 0.07 18,916,097.44
的应收账款
合计 1,250,881,541.65 100.00 178,334,599.91 14.26 1,072,546,941.74 1,102,631,947.38 100.00 162,604,045.59 14.75 940,027,901.79
(2) 按账龄分析法计提坏账准备的应收账款：
人民币元
2018 年 6 月 30 日
账龄
金额 坏账准备 计提比例(%)
3 个月以内 868,780,740.36 - -
3 至 12 个月 234,242,635.07 70,186,850.27 29.96
12 个月以上 122,169,351.58 108,136,037.44 88.51
合计 1,225,192,727.01 178,322,887.71 14.55
(3) 本期计提、收回或转回的坏账准备情况
人民币元
2017 年 本期外币报表 2018 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 162,604,045.59 17,283,292.35 (764,807.87) (766,956.77) (20,973.39) 178,334,599.91
(4) 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
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
上海锦江国际电子商务有限公司 关联方 85,473,211.11 6.83 -
GOLDEN TULIP MENA 关联方 12,127,321.44 0.97 4,544,991.00
浙江天猫技术有限公司 第三方 8,254,172.42 0.66 -
北京酷讯科技有限公司 第三方 7,850,434.99 0.63 -
TRANSHOTEL 第三方 7,760,929.69 0.62 5,455,684.31
合计 121,466,069.65 9.71 10,000,675.31
3、预付款项
(1) 预付款项按账龄列示：
人民币元
2018 年 6 月 30 日 2017 年 12 月 31 日
账龄
金额 比例(%) 金额 比例(%)
1 年以内 293,910,386.50 100.00 327,214,714.29 100.00
合计 293,910,386.50 100.00 327,214,714.29 100.00
78
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
3、预付款项 - 续
(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
杭州市城东新城建设投资有限公司 第三方 8,464,488.36 预付房租
西安天豪实业责任有限公司 第三方 5,289,003.94 预付房租
贵阳小河金凤饮食娱乐有限公司 第三方 4,347,197.00 预付房租
上海中智财务咨询有限公司 第三方 3,706,579.88 预付房租
广州宸鑫投资咨询有限公司 第三方 3,690,764.52 预付房租
合计 25,498,033.70
4、其他应收款
人民币元
其他应收款项目 2018 年 6 月 30 日 2017 年 12 月 31 日
其他应收款 515,816,129.97 473,982,593.40
应收利息 6,643,354.30 409,399,415.02
应收股利 57,293,318.46 20,215,877.40
合计 579,752,802.73 903,597,885.82
(1) 其他应收款分类披露
人民币元
2018 年 6 月 30 日 2017 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
72,638,330.12 12.73 11,322,337.50 15.59 61,315,992.62 38,125,791.50 7.20 11,431,667.50 29.98 26,694,124.00
坏账准备的其他应收款
单项金额不重大但单独计
497,911,210.35 87.27 43,411,073.00 8.72 454,500,137.35 491,168,922.94 92.80 43,880,453.54 8.93 447,288,469.40
提坏账准备的其他应收款
合计 570,549,540.47 100.00 54,733,410.50 9.59 515,816,129.97 529,294,714.44 100.00 55,312,121.04 10.45 473,982,593.40
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 1) 5,775,000.00 5,775,000.00 100.00 预计无法收回
Golden Tulip Southern Asia LTD(注 2) 5,547,337.50 5,547,337.50 100.00 预计无法收回
合计 11,322,337.50 11,322,337.50
注 1： 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。
注 2： 系 GDL 为联营公司 Golden Tulip Southern Asia LTD 的代垫款，由于双方对该部分代垫款存在争议，
GDL 根据该应收款项的可回收性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
2017 年 本期外币报表 2018 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 55,312,121.04 48,526.39 - (46,204.60) (581,032.33) 54,733,410.50
79
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
4、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 2018 年 6 月 30 日 2017 年 12 月 31 日
押金及保证金 284,070,954.74 252,730,869.65
业务周转金 6,788,227.98 8,370,224.27
代垫款及其他 279,690,357.75 268,193,620.52
合计 570,549,540.47 529,294,714.44
(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(%)
深圳联合产权交易所股份有限公司
保证金 第三方 30,000,000.00 1 年以内 5.26 -
(注 1)
杭州钱江新城资产经营管理投资有
保证金 第三方 15,516,524.00 2至3年 2.72 -
限公司(注 2)
深圳市沙尾实业股份有限公司 保证金 第三方 6,177,600.00 4 年以上 1.08 -
深圳市英迈奇机电设备有限公司 代垫款 第三方 5,775,000.00 2至3年 1.01 5,775,000.00
Golden Tulip Southern Asia LTD 代垫款 关联方 5,547,337.50 2至3年 0.97 5,547,337.50
合计 63,016,461.50 11.04 11,322,337.50
注 1： 系 Keystone 下属子公司欢朋酒店管理(广州)有限公司在深圳市承租物业时，应相关要求，在深圳
联合产权交易所股份有限公司存入的租赁保证金。在完成租赁签约或撤销租赁意向时，保证金将
被退回。
注 2： 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。
(5) 应收利息
人民币元
单位名称 2018 年 6 月 30 日 2017 年 12 月 31 日
银行定期存款 5,052,954.25 408,473,121.64
财务公司定期存款 1,584,237.55 913,745.05
委托贷款 203,170.28 209,556.11
小计 6,840,362.08 409,596,422.80
减：坏账准备 197,007.78 197,007.78
合计 6,643,354.30 409,399,415.02
80
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
4、其他应收款 - 续
(6) 应收股利
人民币元
相关款项
2017 年 外币报表 2018 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 - 6,000,000.00 - - 6,000,000.00 尚未发放 否
(2)杭州肯德基有限公司 19,482,475.25 45,927,333.18 (28,667,325.42) - 36,742,483.01 尚未发放完毕 否
(3)苏州肯德基有限公司 - 20,399,349.80 (12,800,000.00) - 7,599,349.80 尚未发放完毕 否
(4)无锡肯德基有限公司 19,507.30 9,168,683.11 (4,000,000.00) - 5,188,190.41 尚未发放完毕 否
(5)上海肯德基有限公司 - 113,316,970.03 (113,316,970.03) - - 不适用 否
(6)上海新亚富丽华餐饮
- 5,740,000.00 (5,740,000.00) - - 不适用 否
股份有限公司
(7) GDL 之股权投资 713,894.85 38,801.82 (38,470.66) (13,800.05) 700,425.96 尚未发放完毕 否
(8)其他 - 1,062,869.28 - - 1,062,869.28 尚未发放 否
合计 20,215,877.40 201,654,007.22 (164,562,766.11) (13,800.05) 57,293,318.46
5、存货
(1) 存货分类
人民币元
2018 年 6 月 30 日 2017 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 38,805,882.93 134,951.83 38,670,931.10 43,385,307.57 134,951.83 43,250,355.74
产成品 202,647.38 - 202,647.38 235,981.04 - 235,981.04
库存商品 45,702,458.52 2,872,606.96 42,829,851.56 35,111,013.46 2,993,675.58 32,117,337.88
合计 84,710,988.83 3,007,558.79 81,703,430.04 78,732,302.07 3,128,627.41 75,603,674.66
(2) 存货跌价准备
人民币元
2017 年 外币报表 2018 年
存货种类 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
原材料 134,951.83 - - - - 134,951.83
库存商品 2,993,675.58 3,946.21 (764.50) (73,870.93) (50,379.40) 2,872,606.96
合计 3,128,627.41 3,946.21 (764.50) (73,870.93) (50,379.40) 3,007,558.79
6、其他流动资产
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
待摊费用 52,129,994.88 32,697,562.16
预缴税金 291,740,200.52 228,391,498.43
委托贷款(注) 5,575,598.73 7,918,354.93
其他 1,091,901.09 1,668,163.99
合计 350,537,695.22 270,675,579.51
注：系本集团下属子公司旅馆投资对上海新锦酒店管理有限公司发放的委托贷款人民币 5,100,000.00 元，
年利率为 4.35%。此外，还包括 Keystone 对加盟店发放的委托贷款净值人民币 475,598.73 元，年利
率为 10%至 12%。
81
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
7、可供出售金融资产
(1) 可供出售金融资产情况
人民币元
2018 年 6 月 30 日 2017 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 1,047,596,946.57 - 1,047,596,946.57 1,072,573,254.88 - 1,072,573,254.88
-按成本计量 38,206,535.17 907,113.37 37,299,421.80 38,354,402.26 2,009,346.35 36,345,055.91
合计 1,085,803,481.74 907,113.37 1,084,896,368.37 1,110,927,657.14 2,009,346.35 1,108,918,310.79
(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 455,349,253.09
公允价值 1,047,596,946.57
累计计入其他综合收益的公允价值变动金额 592,247,693.48
人民币元
被投资 2017 年 本期 2018 年
股票代码 本期处置 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 417,109,999.99 (182,847,767.55) (17,062,232.45) 217,199,999.99 40,000,000
交通银行 601328 6,295,517.91 (476,472.37) - 5,819,045.54 1,013,771
全聚德 002186 1,682,700.80 (308,813.84) - 1,373,886.96 95,608
申万宏源 000166 80,386,558.68 (14,969,564.00) - 65,416,994.68 14,969,564
通过 Ocean BT L.P.
567,098,477.50 190,688,541.90 - 757,787,019.40 -
持有之股权投资(注)
合计 1,072,573,254.88 (7,914,075.86) (17,062,232.45) 1,047,596,946.57
注： 本集团之子公司 Keystone 系 Ocean BT L.P.的有限合伙人，并通过 Ocean BT L.P.持有 eLong Inc.
(“艺龙”)约 3.58%的股权，作为可供出售金融资产核算。
于 2018 年 3 月，艺龙完成收购 Tongcheng Network，并更名为 Tongcheng-Elong Holdings Limited
(“同程艺龙”)。于 2018 年 6 月，同程艺龙向香港交易所递交了申请发行的相关资料。
该项可供出售金融资产公允价值的确定参见附注(九)3。
82
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
7、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 2017 年 外币报表 2018 年 2017 年 外币报表 2018 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 45,927,333.18
苏州肯德基有限公司 5,484,594.24 5,484,594.24 - - - - 5,484,594.24 - - - - 8 20,399,349.80
无锡肯德基有限公司 3,761,343.20 3,761,343.20 - - - - 3,761,343.20 - - - - 8 9,168,683.11
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 -
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 - - - - 100,000.00 100,000.00 - - 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 5,135,565.54 382,092.64 - (431,026.18) (98,933.55) 4,987,698.45 1,659,346.35 - (1,102,232.98) 557,113.37 - 38,801.82
合计 37,904,270.41 38,354,402.26 382,092.64 - (431,026.18) (98,933.55) 38,206,535.17 2,009,346.35 - (1,102,232.98) 907,113.37 - 75,534,167.91
83
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
8、长期股权投资
人民币元
本期增减变动
2017 年 计提 2018 年 减值准备
被投资单位 权益法下确认 其他综合 其他 本期其他减少 宣告发放现金 外币报表
12 月 31 日 本期新增 减值准 6 月 30 日 期末余额
的投资收益 收益调整 权益变动 (注) 股利或利润 折算差额
备
联营企业 -
上海肯德基有限公司(“上海肯德基”) 213,299,451.31 - 62,980,270.34 - - - (113,316,970.03) - - 162,962,751.62 -
上海新鹿餐饮发展有限公司(“新鹿餐饮”) 2,335,466.77 - (73,567.01) - - (2,261,899.76) - - - - -
上海新亚富丽华餐饮股份有限公司
31,156,022.06 - 3,877,060.36 - - - (5,740,000.00) - - 29,293,082.42 -
(“新亚富丽华”)
上海齐程网络科技有限公司(“齐程网络”) 57,030,008.61 - (2,560,278.21) - - - - - - 54,469,730.40 -
上海吉野家快餐有限公司(“上海吉野家”) 2,245,620.16 - (452,053.28) - - - - - - 1,793,566.88 -
上海静安面包房有限公司(“静安面包房”) - - - - - - - - - - -
上海新锦酒店管理有限公司(“新锦酒店管理”) 3,111,812.76 - 308,352.59 - - - - - - 3,420,165.35 -
SNC Invest Hotels Dix 90 9,092,057.28 - 1,945,750.59 - - - - - (188,335.13) 10,849,472.74 -
SNC Rouen Annecy 7,147,406.57 - (38,449.24) - - - - - (2,868,948.02) 4,240,009.31 -
SNC Lisieux 4,704,548.84 - (143,030.95) - - - - - (89,903.44) 4,471,614.45 -
SNC Angers Montpellier Villeneuve
6,642,167.68 - 357,924.40 - - - - - (130,696.50) 6,869,395.58 -
Rennes Invest Hotels
SNC Chaville Bx Arles 6,273,111.01 - 328,090.02 - - - - - (123,370.19) 6,477,830.84 -
SNC Bayeux Bergerac Blagnac 4,537,496.19 - 220,163.42 - - - - - (89,125.57) 4,668,534.04 -
Saclay Invest Hotel 3,902,693.57 - (59,743.06) - - - - - (1,919,054.24) 1,923,896.27 -
甘孜州圣地香巴拉旅游投资有限公司 - - - - - - - - - - 3,057,262.29
广州铭岩信息科技有限公司 2,295,040.73 - (26,842.59) - - - - - - 2,268,198.14 -
广州蛋壳网络科技有限公司 7,248,380.73 - - - - - - - - 7,248,380.73 -
广州乐寄信息科技有限公司 - - - - - - - - - - 1,801,815.71
深圳市第五空间公寓酒店管理有限公司 1,924,328.06 - (183,776.04) - - - - - - 1,740,552.02 -
广州辐伦淄信息科技有限公司 2,589,716.51 - (76,681.39) - - - - - - 2,513,035.12 -
广州创变者出入境服务有限公司 1,566,493.26 - 45,301.84 - - - - - - 1,611,795.10 -
广州虫洞网络科技有限公司 3,576,722.23 - (497,740.54) - - - - - - 3,078,981.69 -
广州沁游商务服务有限公司 1,777,054.07 - - - - - - - - 1,777,054.07 -
广州小胖信息科技有限公司 516,348.14 - (15,056.90) - - - - - - 501,291.24 -
广州木西美互联网服务有限公司 1,488,270.23 - (71,639.39) - - - - - - 1,416,630.84 -
广州涯际酒店管理有限公司 978,324.72 - (46,010.15) - - - - - - 932,314.57 -
广州遇乐网络有限公司 846,186.96 - - - - - - - - 846,186.96 -
广州窝趣公寓管理有限公司(“广州窝趣”) 23,223,760.93 - (2,323,406.69) - - - - - 20,900,354.24 -
其他 17,010,105.61 - 3,233,416.52 126,458.24 - - - 4,471,558.49 24,841,538.86 -
合计 416,518,594.99 - 66,728,054.64 126,458.24 - (2,261,899.76) (119,056,970.03) - (937,874.60) 361,116,363.48 4,859,078.00
注：本财务报告期内，新鹿餐饮经批准予以注销，本集团收回新鹿餐饮全部投资款人民币 2,261,899.76 元。
84
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
9、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
1.2017 年 12 月 31 日 1,335,412,392.97 8,562,593,129.60 3,194,740,692.35 21,535,477.62 548,559,204.11 13,662,840,896.65
2.本期增加金额
(1)购置 621,457.59 10,409,336.26 38,760,869.45 11,187.95 5,395,796.48 55,198,647.73
(2)在建工程转入 - 24,891,142.26 36,587,089.68 - 44,141,432.72 105,619,664.66
(3)收购子公司增加(附
5,545,008.00 25,530,141.00 2,251,525.14 - 656,644.66 33,983,318.80
注六)
(4)外币报表折算差额 (30,772,236.69) (130,536,482.43) (26,950,454.41) - (17,643,100.68) (205,902,274.21)
3.本期减少
(1)本期处置或报废 - - (80,329,131.34) (146,707.00) (2,141,850.83) (82,617,689.17)
(2)竣工结算调整 - - (1,068,119.71) - (64,130.77) (1,132,250.48)
4.2018 年 6 月 30 日 1,310,806,621.87 8,492,887,266.69 3,163,992,471.16 21,399,958.57 578,903,995.69 13,567,990,313.98
二、累计折旧
1.2017 年 12 月 31 日 46,589,700.52 4,194,281,308.74 2,252,973,250.77 16,247,676.80 400,822,835.29 6,910,914,772.12
2.本期增加金额
(1)计提 759,353.07 141,882,528.98 128,678,333.61 1,247,302.78 35,291,051.08 307,858,569.52
(2)外币报表折算差额 (1,564,299.71) (59,738,497.31) (21,865,704.11) - (15,044,484.87) (98,212,986.00)
3.本期减少
(1)本期处置或报废 - - (66,707,466.24) (139,371.65) (1,910,644.85) (68,757,482.74)
4.2018 年 6 月 30 日 45,784,753.88 4,276,425,340.41 2,293,078,414.03 17,355,607.93 419,158,756.65 7,051,802,872.90
三、减值准备
1.2017 年 12 月 31 日 - - 4,608,480.67 - - 4,608,480.67
2.本期增加金额 - - - - - -
3.本期处置或报废 - - (3,652,199.79) - - (3,652,199.79)
4.2018 年 6 月 30 日 - - 956,280.88 - - 956,280.88
四、账面价值
1.2018 年 6 月 30 日 1,265,021,867.99 4,216,461,926.28 869,957,776.25 4,044,350.64 159,745,239.04 6,515,231,160.20
2.2017 年 12 月 31 日 1,288,822,692.45 4,368,311,820.86 937,158,960.91 5,287,800.82 147,736,368.82 6,747,317,643.86
(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 124,321,572.00 829,573.77 123,491,998.23
房屋建筑物 803,983,657.95 671,196,648.00 132,787,009.95
机器设备 14,375,497.11 10,924,125.97 3,451,371.14
合计 942,680,727.06 682,950,347.74 259,730,379.32
(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 104,786,760.05 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 174,547,954.09 元的房屋建筑物用于长期借款抵押，
详见附注(五)(24)注 2。
85
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
10、在建工程
(1) 在建工程情况
人民币元
2018 年 6 月 30 日 2017 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"上海静安寺酒店装修工程 41,764,897.62 - 41,764,897.62 30,466,186.75 - 30,466,186.75
"锦江之星"临汾解放路店装修工程 23,731,404.88 - 23,731,404.88 22,789,349.88 - 22,789,349.88
"锦江之星"天津台儿庄路酒店装修工程 - - - 22,713,962.97 - 22,713,962.97
"康铂"南京江宁将军大道酒店装修工程 - - - 21,858,023.12 - 21,858,023.12
"锦江之星"苏州市工业园区通园路酒店装修工程 17,399,677.56 - 17,399,677.56 16,313,380.06 - 16,313,380.06
"锦江之星"上海九亭沪松公路酒店装修工程 13,254,879.32 - 13,254,879.32 13,124,965.28 - 13,124,965.28
"锦江之星"台州市椒江区云西路酒店 15,153,390.76 - 15,153,390.76 - - -
"锦江都城"上海蒙自路店 37,280,149.73 - 37,280,149.73 - - -
旅馆投资其他装修工程 19,147,297.15 (4,127,415.28) 15,019,881.87 5,381,443.10 (4,127,415.28) 1,254,027.82
小计 167,731,697.02 (4,127,415.28) 163,604,281.74 132,647,311.16 (4,127,415.28) 128,519,895.88
GDL 在建工程
Louvre Htels Group 酒店装修工程 99,896,866.88 - 99,896,866.88 95,164,902.77 - 95,164,902.77
Htel du Chateau (Fontainebleau)酒店装修工程 16,310,480.73 - 16,310,480.73 9,069,838.02 - 9,069,838.02
Hotelière du marché de Rungis 酒店装修工程 8,583,059.11 - 8,583,059.11 - - -
Htels du pont de Suresnes 酒店装修工程 8,372,661.68 - 8,372,661.68 10,905,691.90 - 10,905,691.90
LH 197 SARL 酒店装修工程 6,690,125.22 - 6,690,125.22 1,614,593.76 - 1,614,593.76
LWIH Property Holding Poland 酒店装修工程 7,186,804.70 (1,112,818.20) 6,073,986.50 7,584,631.36 (1,141,005.16) 6,443,626.20
Htelière de Magny (Disney)酒店装修工程 4,837,897.61 - 4,837,897.61 1,967,329.27 - 1,967,329.27
Cambourget 酒店装修工程 3,971,645.05 - 3,971,645.05 6,701,076.28 - 6,701,076.28
Htel Grill Nice l'Arenas 酒店装修工程 1,667,299.04 - 1,667,299.04 508,471.60 - 508,471.60
Bleu Aix en Provence Galice 酒店装修工程 1,467,839.58 - 1,467,839.58 1,629,219.02 - 1,629,219.02
Gestion Hotel Argenteuil 酒店装修工程 1,161,575.82 - 1,161,575.82 1,118,352.81 - 1,118,352.81
Sarovar 酒店装修工程 1,098,645.45 - 1,098,645.45 1,149,170.44 - 1,149,170.44
Htel Grill Paris Ermont Sannois 酒店装修工程 1,076,534.45 - 1,076,534.45 2,938,916.29 - 2,938,916.29
Htel Gril Torcy - Marne La Vallée 酒店装修工程 1,042,663.17 - 1,042,663.17 1,884,457.30 - 1,884,457.30
Htel Grill Compiegne 酒店装修工程 - - - 2,795,463.60 - 2,795,463.60
Htel Grill de Chelles 酒店装修工程 - - - 1,187,661.81 - 1,187,661.81
Others 酒店装修工程 18,216,780.41 - 18,216,780.41 19,641,036.95 - 19,641,036.95
小计 181,580,878.90 (1,112,818.20) 180,468,060.70 165,860,813.18 (1,141,005.16) 164,719,808.02
Keystone 在建工程
商用物业建设工程 24,258,375.49 - 24,258,375.49 24,024,413.23 - 24,024,413.23
七天直营店装修工程 10,335,395.67 - 10,335,395.67 18,960,981.51 - 18,960,981.51
莲花酒店前台管理系统等 2,600,420.00 (2,600,420.00) - 2,600,420.00 (2,600,420.00) -
Keystone 其他在建工程 5,895,501.37 (80,000.00) 5,815,501.37 21,650,226.49 (80,000.00) 21,570,226.49
小计 43,089,692.53 (2,680,420.00) 40,409,272.53 67,236,041.23 (2,680,420.00) 64,555,621.23
86
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
10、在建工程 - 续
(1) 在建工程情况 - 续
人民币元
2018 年 6 月 30 日 2017 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
维也纳在建工程
"维也纳好眠"深圳机场一路店装修工程 - - - 34,294,359.31 - 34,294,359.31
"维也纳国际"上海怒江路店装修工程 57,615,601.58 - 57,615,601.58 20,687,220.67 - 20,687,220.67
"维也纳国际"苏州站北广场店装修工程 55,788,473.37 - 55,788,473.37 17,861,328.85 - 17,861,328.85
"维也纳国际"太原南站店装修工程 24,708,110.17 - 24,708,110.17 11,195,150.11 - 11,195,150.11
"维也纳国际"西安大雁塔店装修工程 - - - 11,075,333.21 - 11,075,333.21
"维也纳智好"深圳海湾店装修工程 5,192,366.73 - 5,192,366.73 3,136,616.73 - 3,136,616.73
"维也纳维纳斯"深圳沙井麒麟店装修工程 2,935,655.00 - 2,935,655.00 2,938,705.00 - 2,938,705.00
"维也纳国际"成都世纪城会展店装修工程 2,498,638.73 - 2,498,638.73 1,907,118.98 - 1,907,118.98
维也纳其他装修工程 23,281,435.28 - 23,281,435.28 16,193,446.54 - 16,193,446.54
小计 172,020,280.86 - 172,020,280.86 119,289,279.40 - 119,289,279.40
百岁村在建工程
太原火车南站店装修工程 5,090,494.40 - 5,090,494.40 - - -
上海怒江路店装修工程 10,998,312.04 - 10,998,312.04 2,310,000.00 - 2,310,000.00
百岁村其他工程 2,848,823.76 - 2,848,823.76 2,266,799.87 - 2,266,799.87
小计 18,937,630.20 - 18,937,630.20 4,576,799.87 - 4,576,799.87
其他在建工程
"锦江都城”长沙开福店装修工程 104,476,235.77 - 104,476,235.77 104,135,437.70 - 104,135,437.70
"锦江都城”南华亭宾馆装修工程 - - - 43,502,705.89 - 43,502,705.89
"麗枫&喆啡"上海花木店装修工程 - - - 33,831,087.01 - 33,831,087.01
Kyriad 上海共和新路酒店改造工程 21,037,535.80 - 21,037,535.80 13,693,964.52 - 13,693,964.52
锦江之星 BI 商务智能平台项目工程及其他 1,129,170.40 - 1,129,170.40 549,642.11 - 549,642.11
其他在建工程 16,659,643.22 - 16,659,643.22 1,777,175.54 - 1,777,175.54
小计 143,302,585.19 - 143,302,585.19 197,490,012.77 - 197,490,012.77
总计 726,662,764.70 (7,920,653.48) 718,742,111.22 687,100,257.61 (7,948,840.44) 679,151,417.17
87
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
10、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
本期转入 本期转入 本期转入 本期 外币报表 利息资本化 其中:本期利息
项目名称 2017 年 12 月 31 日 本期购建 2018 年 6 月 30 日 资本化率 资金来源
固定资产 无形资产 长期待摊费用 其他变动 折算差额 累计金额 资本化金额
(%)
"康铂"上海静安寺酒店装修工程 30,466,186.75 11,298,710.87 - - - - - 41,764,897.62 - - - 自筹资金
"锦江都城"上海蒙自路店装修工程 - 37,280,149.73 - - - - - 37,280,149.73 - - - 自筹资金
"锦江之星"临汾解放路店装修工程 22,789,349.88 942,055.00 - - - - - 23,731,404.88 - - - 自筹资金
"锦江之星"苏州市工业园区通园路酒店装修工程 16,313,380.06 1,086,297.50 - - - - - 17,399,677.56 - - - 自筹资金
"锦江之星"台州市椒江区云西路酒店装修工程 525,915.33 14,627,475.43 - - - - - 15,153,390.76 - - - 自筹资金
"锦江之星"上海九亭沪松公路酒店装修工程 13,124,965.28 129,914.04 - - - - - 13,254,879.32 - - - 募集资金
"锦江之星"武汉丁字桥店装修工程 - 5,379,521.90 - - - - - 5,379,521.90 - - - 自筹资金
"锦江之星"宁波火车站店(连体) - 4,681,586.54 - - - - - 4,681,586.54 - - - 自筹资金
"锦江之星"沈阳北陵店 - 4,386,572.77 - - - - - 4,386,572.77 - - - 自筹资金
"锦江之星"南京江宁胜太西路店 - 3,864,042.92 - - - - - 3,864,042.92 - - - 自筹资金
"锦江之星"北京西客站店 - 3,019,323.70 - - - - - 3,019,323.70 - - - 自筹资金
"锦江之星"成都东风大桥店 - 2,926,016.79 - - - - - 2,926,016.79 - - - 自筹资金
"锦江之星"福州五一北路店 - 1,465,784.28 - - - - - 1,465,784.28 - - - 自筹资金
"锦江之星"天津台儿庄路酒店 22,713,962.97 - (3,696,897.89) - (18,715,496.17) (301,568.91) - - - - - 募集资金
"康铂"南京江宁将军大道酒店装修工程 21,858,023.12 - (4,060,056.80) - (14,986,868.08) (2,811,098.24) - - - - - 自筹资金
Louvre Htels Group 酒店装修工程 95,164,902.77 15,819,923.23 - (8,980,525.53) - (225,265.95) (1,882,167.64) 99,896,866.88 - - - 自筹资金
Htel du Chateau (Fontainebleau)酒店装修工程 9,069,838.02 7,464,305.01 - - - - (223,662.30) 16,310,480.73 - - - 自筹资金
Hotelière du marché de Rungis 酒店装修工程 - 8,639,034.36 - - - - (55,975.25) 8,583,059.11 - - - 自筹资金
Htels du pont de Suresnes 酒店装修工程 10,905,691.90 288,946.90 (2,626,340.67) - - - (195,636.45) 8,372,661.68 - - - 自筹资金
LH 197 SARL 酒店装修工程 1,614,593.76 5,140,041.82 - - - - (64,510.36) 6,690,125.22 - - - 自筹资金
LWIH Property Holding Poland 酒店装修工程 6,443,626.21 84,646.73 (44,872.51) - - - (409,413.93) 6,073,986.50 - - - 自筹资金
Htelière de Magny (Disney)酒店装修工程 1,967,329.27 3,730,428.78 (802,867.95) - - - (56,992.49) 4,837,897.61 - - - 自筹资金
Cambourget 酒店装修工程 6,701,076.28 540,063.37 (3,156,934.24) - - - (112,560.36) 3,971,645.05 - - - 自筹资金
Htel Grill Nice l'Arenas 酒店装修工程 508,471.60 1,210,932.79 (34,656.30) - - - (17,449.05) 1,667,299.04 - - - 自筹资金
Bleu Aix en Provence Galice 酒店装修工程 1,629,219.02 192,105.03 (322,842.61) - - - (30,641.86) 1,467,839.58 - - - 自筹资金
Gestion Hotel Argenteuil 酒店装修工程 1,118,352.81 80,733.78 (15,472.81) - - - (22,037.96) 1,161,575.82 - - - 自筹资金
Sarovar 酒店装修工程 1,149,170.44 17,148.67 - - - - (67,673.66) 1,098,645.45 - - - 自筹资金
Htel Grill Paris Ermont Sannois 酒店装修工程 2,938,916.29 2,310.42 (1,819,665.23) - - - (45,027.03) 1,076,534.45 - - - 自筹资金
88
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
10、 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
本期转入 本期转入 本期转入 本期 外币报表 利息资本化 其中:本期利息
项目名称 2017 年 12 月 31 日 本期购建 2018 年 6 月 30 日 资本化率 资金来源
固定资产 无形资产 长期待摊费用 其他变动 折算差额 累计金额 资本化金额
(%)
商用物业建设工程 24,024,413.23 233,962.26 - - - - - 24,258,375.49 - - - 自筹资金
"7 天酒店"普通房升级工程 6,365,596.95 5,142,890.44 - - (2,587,204.20) - - 8,921,283.19 - - - 自筹资金
"7 天优品"改造装修工程 12,883,578.89 1,283,344.26 - - (12,904,138.34) - - 1,262,784.81 - - - 自筹资金
"7 天酒店"直营店翻新工程 11,791,625.52 1,672,394.14 - - (13,312,691.99) - - 151,327.67 - - - 自筹资金
"维也纳国际"上海怒江路店装修工程 20,687,220.67 36,928,380.91 - - - - - 57,615,601.58 - - - 自筹资金
"维也纳国际"苏州北广场店装修工程 17,861,328.85 37,927,144.52 - - - - - 55,788,473.37 - - - 自筹资金
"维也纳国际"太原南站店装修工程 11,195,150.11 13,512,960.06 - - - - - 24,708,110.17 - - - 自筹资金
"五稻香"上海怒江路店装修工程 2,310,000.00 9,408,537.65 - - (720,225.61) - - 10,998,312.04 - - - 自筹资金
"维也纳国际" 深圳塘朗店装修工程 1,901,684.27 4,943,541.60 - - - - - 6,845,225.87 - - - 自筹资金
"维也纳智好"海湾店 3,136,616.73 2,055,750.00 - - - - - 5,192,366.73 - - - 自筹资金
"五稻香"太原火车南站店 - 7,811,472.57 - - (2,720,978.17) - - 5,090,494.40 - - - 自筹资金
"维也纳国际" 深圳华南城店 1,035,874.66 1,952,829.96 - - - - - 2,988,704.62 - - - 自筹资金
"维也纳维纳斯"深圳沙井麒麟店 2,938,705.00 - - - - (3,050.00) - 2,935,655.00 - - - 自筹资金
"维也纳国际"成都世纪城会展店 1,907,118.98 591,519.75 - - - - - 2,498,638.73 - - - 自筹资金
"维也纳国际"深圳机场一路店 34,294,359.31 10,656,470.01 (82,909.41) - (44,867,919.91) - - - - - - 自筹资金
"维也纳国际"西安大雁塔 11,075,333.21 7,065,764.97 (240,139.58) - (17,900,958.60) - - - - - - 自筹资金
"锦江都城"长沙开福店装修工程 104,135,437.70 340,798.07 - - - - - 104,476,235.77 - - - 自筹资金
"锦江都城"南华亭宾馆装修工程 43,502,705.89 186,558.71 (5,085,978.80) - (38,603,285.80) - - - - - - 自筹资金
"麗枫&喆啡"上海花木店装修工程 33,831,087.01 18,697,247.00 (52,528,334.01) - - - - - - - - 自筹资金
"凯里亚德"新亚明珠装修工程 13,693,964.52 6,734,266.66 - - - - - 20,428,231.18 - - - 自筹资金
锦江之星 BI 商务智能平台项目工程及其他 549,642.11 819,528.29 - (240,000.00) - - 1,129,170.40 - - - 自筹资金
其他境外装修工程 25,508,619.65 12,571,184.95 (17,905,840.89) (12,822.09) - (7,701.40) (523,662.55) 19,629,777.67 - - - 自筹资金
其他境内装修工程 27,518,382.15 33,017,966.16 (13,195,854.96) (2,334,387.85) (16,698,628.86) - - 28,307,476.64 - - - 自筹资金
合计 679,151,417.17 347,852,585.30 (105,619,664.66) (11,567,735.47) (184,018,395.73) (3,348,684.50) (3,707,410.89) 718,742,111.22 - - -
(3) 本财务报表期间内无计提在建工程减值准备。
89
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
11、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
1.2017 年 12 月 31 日 363,605,118.73 506,558,560.85 6,139,085,290.19 335,600,000.00 944,282,072.69 8,289,131,042.46
2.本期增加金额
(1)购置 - - - - 7,882,137.30 7,882,137.30
(2)在建工程转入 - - - - 11,567,735.47 11,567,735.47
(3)收购子公司增加 - - - - 61,611.20 61,611.20
3.本期减少金额
(1)处置 - - - - (1,157,516.34) (1,157,516.34)
4.外币报表折算差额 - (991,379.67) (51,312,396.29) - (7,945,373.37) (60,249,149.33)
5.2018 年 6 月 30 日 363,605,118.73 505,567,181.18 6,087,772,893.90 335,600,000.00 954,690,666.95 8,247,235,860.76
二、累计摊销
1.2017 年 12 月 31 日 89,213,784.22 159,598,775.59 167,837.24 29,355,000.00 538,494,466.63 816,829,863.68
2.本期增加金额
(1)计提 4,475,533.98 22,743,515.61 14,274.96 8,389,999.98 65,467,448.07 101,090,772.60
3.本期减少金额
(1)处置 - - - - (263,592.67) (263,592.67)
4.外币报表折算差额 - (71,234.15) - - (6,285,284.93) (6,356,519.08)
5.2018 年 6 月 30 日 93,689,318.20 182,271,057.05 182,112.20 37,744,999.98 597,413,037.10 911,300,524.53
三、减值准备
1.2017 年 12 月 31 日 - - - - - -
2.本期增加金额 - - - - - -
3.本期减少金额 - - - - - -
4.2018 年 6 月 30 日 - - - - - -
四、账面价值
1.2018 年 6 月 30 日 269,915,800.53 323,296,124.13 6,087,590,781.70 297,855,000.02 357,277,629.85 7,335,935,336.23
2.2017 年 12 月 31 日 274,391,334.51 346,959,785.26 6,138,917,452.95 306,245,000.00 405,787,606.06 7,472,301,178.78
注： 本集团认为在可预见的将来，商标及品牌均会使用并带给本集团预期经济利益流入。除百岁村餐
饮的商标按十年摊销之外，其他品牌的使用寿命是不确定的。
12、商誉
(1) 商誉账面原值
人民币元
2017 年 2018 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
GDL(注) 4,840,050,720.40 47,047,852.60 (93,851,568.73) 4,793,247,004.27
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
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
合计 11,371,440,175.64 47,047,852.60 (93,851,568.73) 11,324,636,459.51
注： 于本报告期内，GDL 非同一控制下企业合并 Parcotel Annemasse (“Annemasse”)、 Golden Tulip
South East Asia Ltd (“GT SEA”)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 5,710,000.00 欧元，折合人民币 43,974,994.00 元，确认为商誉，详见附注(六)。此外，GDL
管理层根据最终确定的收购对价调增了 2017 年收购的 Sarovar Hotels Private Limited(“Sarovar”)
及 Htels et Préférence 的商誉合计 399,000.00 欧元，折合人民币 3,072,858.60 元。
90
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
12、商誉 - 续
(2) 商誉减值准备
人民币元
2017 年 2018 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
金广快捷 19,626,870.92 - - 19,626,870.92
都之华 3,740,756.59 - - 3,740,756.59
合计 23,367,627.51 - - 23,367,627.51
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。2018 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 2018 年 6 月 30 日
境外有限服务型酒店营运及管理业务分部-GDL 4,793,247,004.27 - 4,793,247,004.27
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 (19,626,870.92) 20,544,546.93
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
境内锦江都城有限服务型酒店营运及管理业务分部
3,740,756.59 (3,740,756.59) -
-都之华
合计 11,324,636,459.51 (23,367,627.51) 11,301,268,832.00
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 2018 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
和对市场发展的预期估计预计的收入增长率(2018 年至 2022 年：约 2.5%，2022 年以后：约 1.4%到 2.0%)
以及折现率(直营酒店：约 8.17%，加盟及管理酒店：约 10.77%)。其中 2022 年以后收入增长率系根据下
属酒店经营所在国家的通货膨胀率确定。
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 2018
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
绩和对市场发展的预期估计预计的收入增长率(2018 年至 2022 年：约 8.73%，2022 年以后：约 2%)以及
折现率(约 11.5%)。其中 2022 年以后收入增长率系根据通货膨胀率确定。
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。
91
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
12、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 2018 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对市场发展的预期估计预计的收入增长率(2018 年至 2022 年：约 7.45%，2022 年
以后：约 2%)以及折现率(约 14.2%)。
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. 资产组金广快捷及都之华
资产组金广快捷及都之华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 2018 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对市场发展的预期估计预计的收入增长率及折现率。
对于资产组金广快捷及都之华，管理层根据上述计算结果对商誉金额计提减值准备。
13、长期待摊费用
人民币元
2017 年 本期增加 其他减少 外币报表 2018 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 2,243,660,036.39 120,226,090.93 (221,623,036.38) (26,710,261.37) (1,634,133.79) 2,113,918,695.78
经营租入固定资产装修支出 383,512,983.14 68,859,211.09 (57,841,155.55) (13,870,579.50) - 380,660,459.18
预付租金及其他 45,654,665.22 1,243,899.01 - (4,199,344.19) - 42,699,220.04
合计 2,672,827,684.75 190,329,201.03 (279,464,191.93) (44,780,185.06) (1,634,133.79) 2,537,278,375.00
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 184,018,395.73 元，购置增加长期待摊
费用人民币 2,499,903.25 元，以及因工程竣工结算调整而增加的长期待摊费用人民币 3,810,902.05
元。
注 2： 其他减少金额包括因工程竣工结算调整而减少的长期待摊费用人民币 15,293,752.06 元，预付一年
以上租赁费结转减少人民币 4,199,344.19 元，计提减值准备的长期待摊费用人民币 25,010,143.30
元以及处置长期待摊费用人民币 276,945.51 元。
92
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
14、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
2018 年 6 月 30 日 2017 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 189,537,387.86 48,245,203.93 174,495,292.00 46,287,180.47
预提费用 135,729,085.11 33,960,071.77 128,958,457.76 32,239,614.45
预收会员卡及积分的递延收益 88,863,490.44 22,215,872.61 87,537,330.57 21,880,600.23
直线法租金调整 340,111,509.04 85,027,877.27 346,459,715.44 85,912,228.79
政府补助 8,031,664.75 2,007,916.19 86,720,714.11 21,680,176.34
资产减值准备 197,871,633.94 49,467,908.48 170,021,069.82 42,505,267.45
固定资产折旧税会差异 9,728,392.92 2,432,098.23 11,477,286.68 2,869,321.67
可抵扣亏损 2,261,499,461.99 581,714,107.38 2,089,081,159.83 595,336,914.21
资本化费用 28,454.18 7,113.55 48,470.61 12,117.65
计入其他综合收益的可供出售
- - 82,261,522.50 -
金融资产公允价值变动
其他 34,210,832.70 8,212,697.17 45,172,611.70 11,459,863.98
合计 3,265,611,912.93 833,290,866.58 3,222,233,631.02 860,183,285.24
(2) 未经抵销的递延所得税负债
人民币元
2018 年 6 月 30 日 2017 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
339,140,416.03 84,785,104.04 429,316,014.39 107,329,003.63
金融资产公允价值变动
非同一控制下企业合并中资产
8,990,685,794.88 2,371,246,578.63 9,230,122,556.48 2,483,847,898.20
公允价值调整
融资租赁费用 95,210,582.59 24,583,372.43 91,416,451.06 26,437,637.65
固定资产折旧税会差异 117,110,905.16 30,238,035.71 122,570,361.94 35,447,348.67
其他 94,646,258.91 24,434,601.49 92,025,479.37 26,595,478.81
合计 9,636,793,957.57 2,535,287,692.30 9,965,450,863.24 2,679,657,366.96
(3) 以抵销后净额列示的递延所得税资产或负债
人民币元
2018 年 6 月 30 日 2017 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 239,297,067.09 593,993,799.49 245,185,353.32 614,997,931.92
递延所得税负债 239,297,067.09 2,295,990,625.21 245,185,353.32 2,434,472,013.64
(4) 未确认递延所得税资产明细
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
可抵扣亏损 1,114,912,218.28 983,353,326.19
可抵扣暂时性差异 62,848,612.98 49,819,144.65
合计 1,177,760,831.26 1,033,172,470.84
93
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
14、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
2018 年 6 月 30 日 2017 年 12 月 31 日
2018 年 42,621,901.28 72,997,964.38
2019 年 142,361,850.01 146,945,318.99
2020 年 203,382,437.66 204,247,073.37
2021 年 169,744,190.87 169,744,190.86
2022 年 351,752,982.94 389,418,778.59
2023 年及以后 205,048,855.52 -
合计 1,114,912,218.28 983,353,326.19
15、其他非流动资产
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
地下建筑租赁使用费 47,430,992.26 48,165,639.45
保证金及押金 41,959,461.28 41,629,385.78
其他 342,113.76 432,088.87
合计 89,732,567.30 90,227,114.10
减：一年内到期的其他非流动资产 - -
一年后到期的其他非流动资产 89,732,567.30 90,227,114.10
16、资产减值准备明细
人民币元
2017 年 外币报表 2018 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 218,113,174.41 17,331,818.74 (764,807.87) (813,161.37) (602,005.72) 233,265,018.19
二、存货跌价准备 3,128,627.41 3,946.21 (764.50) (73,870.93) (50,379.40) 3,007,558.79
三、其他流动资产减值准备 9,326,950.81 - (1,851,666.03) - - 7,475,284.78
四、可供出售金融资产减值准备 2,009,346.35 - - - (1,102,232.98) 907,113.37
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 4,608,480.67 - - (3,652,199.79) - 956,280.88
九、工程物资减值准备 - - - - - -
十、在建工程减值准备 7,948,840.44 - - - (28,186.96) 7,920,653.48
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 23,367,627.51 - - - - 23,367,627.51
十五、长期待摊费用减值准备 29,722,376.03 25,010,143.30 - - - 54,732,519.33
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 306,461,558.37 42,345,908.25 (2,617,238.40) (4,539,232.09) (1,782,805.06) 339,868,191.07
94
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
17、短期借款
短期借款分类：
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
信用借款—银行 14,935,102.87 1,005,333,514.18
信用借款—其他金融机构(注 1) 10,500,000.00 10,500,000.00
合计(注 2) 25,435,102.87 1,015,833,514.18
注 1：系本集团自财务公司取得的借款合计金额为人民币 10,500,000.00 元，年利率为 3.915%。
注 2：本财务报告期末，本集团短期借款中人民币 14,935,102.87 元以浮动利率计息。
18、应付票据及应付账款
于 2018 年 6 月 30 日及 2017 年 12 月 31 日，本集团应付票据余额为零。
应付账款明细如下：
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
应付经营货款 1,569,650,122.04 1,600,447,881.22
应付工程项目款 461,728,999.39 536,577,137.61
合计 2,031,379,121.43 2,137,025,018.83
19、预收款项
预收款项明细如下：
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
预收会员卡及储值款 246,934,527.65 218,496,553.00
预收房款及餐饮定金等 166,978,793.86 138,518,425.81
预收集中采购款 217,235,008.89 203,740,612.03
预收加盟费 272,250,518.47 294,722,412.67
其他 43,584,585.51 17,746,460.44
合计 946,983,434.38 873,224,463.95
20、应付职工薪酬
(1) 应付职工薪酬列示
人民币元
2017 年 2018 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
1、短期薪酬 829,964,262.62 2,163,556,877.12 (2,211,536,945.13) 781,984,194.61
2、境内离职后福利-设定提存计划 68,077,897.43 127,749,816.44 (99,039,292.02) 96,788,421.85
3、辞退福利 12,934,449.42 1,987,799.05 (5,172,033.87) 9,750,214.60
合计 910,976,609.47 2,293,294,492.61 (2,315,748,271.02) 888,522,831.06
95
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
20、应付职工薪酬 - 续
(2) 短期薪酬列示
人民币元
2017 年 2018 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 659,946,931.52 1,816,751,302.80 (1,875,907,431.56) 600,790,802.76
2、职工福利费 714,865.96 65,958,766.13 (66,130,705.67) 542,926.42
3、境内社会保险费 21,198,826.78 55,922,354.03 (49,178,992.50) 27,942,188.31
其中：医疗保险费 17,250,757.34 47,795,471.49 (42,864,373.69) 22,181,855.14
工伤保险费 1,096,429.64 2,803,068.43 (2,256,109.93) 1,643,388.14
生育保险费 2,851,639.80 5,323,814.11 (4,058,508.88) 4,116,945.03
4、境内住房公积金 42,794,732.11 41,786,651.38 (26,439,503.22) 58,141,880.27
5、境外社会保险费 103,110,403.24 173,539,663.05 (184,517,853.61) 92,132,212.68
6、工会经费和职工教育经费 2,189,735.19 9,598,139.73 (9,362,458.57) 2,425,416.35
7、其他 8,767.82 - - 8,767.82
合计 829,964,262.62 2,163,556,877.12 (2,211,536,945.13) 781,984,194.61
(3) 境内离职后福利-设定提存计划
人民币元
2017 年 2018 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 62,134,618.45 123,067,940.26 (94,772,274.27) 90,430,284.44
2、失业保险费 5,943,278.98 4,681,876.18 (4,267,017.75) 6,358,137.41
合计 68,077,897.43 127,749,816.44 (99,039,292.02) 96,788,421.85
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 123,067,940.26
元及人民币 4,681,876.18 元。本财务报告期末，本集团尚有人民币 90,430,284.44 元及人民币 6,358,137.41
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。
21、应交税费
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
增值税 113,651,747.41 93,161,701.85
企业所得税 188,326,981.58 247,879,550.64
房产税 7,331,126.28 8,591,999.17
境内其他税费 17,451,460.63 19,261,561.54
境外其他税费 83,608,838.96 41,216,345.28
合计 410,370,154.86 410,111,158.48
96
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
22、其他应付款
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
其他应付款 1,619,688,461.26 1,282,363,394.50
应付利息 35,522,951.89 33,494,915.09
应付股利 502,414.89 463,047.45
合计 1,655,713,828.04 1,316,321,357.04
(1) 其他应付款明细如下：
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
代收款 893,940,643.96 692,157,385.85
预提费用 242,188,999.09 248,372,715.47
定金和押金 208,768,038.26 178,798,692.47
预提重大资产置换及附属交易涉及税金 58,623,448.18 58,623,448.29
项目合作款 30,000,000.00 30,000,000.00
工程保证金 18,045,241.41 20,193,377.51
应付股权收购项目中介机构费用 4,058,829.10 6,669,598.62
Keystone 少数股东股权收购款(注) 110,500,326.34 -
其他 53,562,934.92 47,548,176.29
合计 1,619,688,461.26 1,282,363,394.50
注：本财务报告期内，本集团收购子公司 Keystone 少数股东股权款项中尚有余额人民币 110,500,326.34
元未支付。详见附注七 2。
(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：
本集团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。
(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。
(4) 应付利息
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
长期借款应付利息 35,514,451.89 32,159,798.26
短期借款应付利息 8,500.00 1,335,116.83
合计 35,522,951.89 33,494,915.09
97
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
22、其他应付款 - 续
(5) 应付股利
人民币元
单位名称 2018 年 6 月 30 日 2017 年 12 月 31 日
应付 A 股股东股利 502,414.89 463,047.45
合计 502,414.89 463,047.45
23、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 2018 年 6 月 30 日 2017 年 12 月 31 日
一年内到期的长期借款 601,347,907.94 247,253,782.26
一年内到期的应付融资租赁款 12,022,600.51 10,278,627.53
一年内到期的其他长期应付款 818,710.50 -
一年内到期的其他非流动负债 3,642,200.00 13,153,024.10
合计 617,831,418.95 270,685,433.89
(2) 一年内到期的长期借款的情况详见附注(五)24。
(3) 一年内到期的应付融资租赁款及其他长期应付款的情况详见附注(五)25。
(4) 一年内到期的其他非流动负债的情况详见附注(五)28。
24、长期借款
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
质押借款(注 1) 4,659,000,000.00 4,759,000,000.00
抵押借款(注 2) 66,076,276.35 74,715,743.91
信用借款(注 3) 6,599,831,025.40 8,398,033,259.28
保证借款(注 4) 5,884,003,500.00 6,007,771,000.00
委托借款(注 5) 4,500,000.00 4,500,000.00
合计(注 6) 17,213,410,801.75 19,244,020,003.19
减：一年内到期的长期借款 601,347,907.94 247,253,782.26
一年后到期的长期借款 16,612,062,893.81 18,996,766,220.93
注 1：本财务报告期末，本集团从中国进出口银行融入的借款余额为人民币 4,659,000,000.00 元，其中一
年内到期借款为人民币 300,000,000.00 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 日到 2022 年 2 月 18 日，年利率为浮动利率，本财务报告期内加权平均
利率为 3.60%。
注 2：本财务报告期末，本集团下属子公司向境外银行融入的波兰兹罗提抵押借款余额折合人民币
66,076,276.35 元，其中一年内到期借款折合人民币 7,827,131.31 元。本集团下属相关子公司以其固
定资产作为抵押，详见附注(五)9(4)。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。
98
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
24、长期借款 - 续
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、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 400,000,000.00 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 3.915%。
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 240,000,000.00 元、人民币
920,000,000.00 元，一年内到期金额为人民币 240,000,000.00 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 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 3,825,750,000.00 元，借款期限自 2017 年 5 月 15 日至 2022 年 5
月 10 日，融资成本为 1.17%。
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 73,641,025.40 元，
其中一年内到期的借款为人民币 817,776.63 元。
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 540,440,000.00 元，借款
年利率为 4.0375%。其中一年内到期的借款为人民币 37,400,000.00 元。
注 4：本财务报告期末，本集团下属子公司向中国银行上海市分行融入借款 379,000,000.00 欧元，折合人
民币 2,899,918,500.00 元，借款期限自 2017 年 11 月 17 日至 2022 年 4 月 29 日，年利率为 1.10%，
管理费率为 0.20%；向中国银行巴黎分行融入借款 20,000,000 欧元，折合人民币 153,030,000.00 元，
借款期限自 2017 年 11 月 1 日至 2022 年 4 月 2 日，年利率为 1.20%，管理费率为 0.10%；向交通
银行法兰克福分行融入借款 370,000,000.00 欧元，折合人民币 2,831,055,000.00 元，借款期限自 2017
年 11 月 17 日至 2022 年 11 月 16 日，前三年年利率为 1.00%，后两年为欧元银行同业拆借利率上
浮 1.00 百分点。本财务报告期内加权平均利率 1.00%，管理费率为 0.30%。其中一年内到期的借
款为人民币 15,303,000.00 元。上述借款均由锦江国际提供担保。
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 2017 年 12 月 25 日至 2020 年 12 月 25 日止，
年利率 1.20%。
注 6：其中人民币 9,546,631,740.74 元借款以浮动利率计息。
25、长期应付款
(1) 按款项性质列示长期应付款
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
融资租赁(注 1) 164,192,509.58 146,978,739.96
Htels et Préférence 股权收购款(注 2) 9,179,688.19 9,110,932.97
Sarovar 少数股东股权收购款(注 3) 84,211,736.13 99,136,023.80
GT SEA 收购款(附注(六)) 8,217,711.00 -
其他 22,954.49 31,209.20
合计 265,824,599.39 255,256,905.93
99
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
25、长期应付款 - 续
(2) 长期应付款中的应付融资租赁款明细
人民币元
2018 年 6 月 30 日 2017 年 12 月 31 日
资产负债表日后第 1 年 12,962,214.24 11,292,565.79
资产负债表日后第 2 年 12,726,663.57 11,351,082.65
资产负债表日后第 3 年 12,866,256.99 11,593,909.73
资产负债表日后第 4-5 年 26,224,561.50 23,139,592.00
以后年度 178,750,940.04 157,637,183.39
最低租赁付款额合计 243,530,636.34 215,014,333.56
减：未确认融资费用 67,315,526.25 57,756,966.07
应付融资租赁款 176,215,110.09 157,257,367.49
其中：一年内到期的应付融资租赁款 12,022,600.51 10,278,627.53
一年后到期的应付融资租赁款 164,192,509.58 146,978,739.96
并无由独立第三方为本集团融资租赁提供担保的金额。
注 1： 应付融资租赁款中人民币 145,041,834.00 元以浮动利率计息，对于其中人民币 113,066,215.50 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)49。
注 2： 系本集团下属子公司 GDL 收购 Htels et Préférence 股权时，尚未支付的尾款。该款项将根据
Htels et Préférence 2019 年度的息税折旧摊销前利润及 2019 年末企业价值确定，并预计于 2020
年度支付。本财务报告期末，上述款项公允价值折合人民币 9,179,688.19 元。
注 3： 系本集团下属子公司 GDL 于 2017 年度收购 Sarovar 74%股权，根据股权收购协议约定，Sarovar
少数股东可以于 2020 年 3 月开始行使权利，要求 GDL 收购 26%的剩余股权。收购对价根据 Sarovar
少数股东提出行使权利前 1 个月开始的 12 个月期间的息税折旧摊销前利润确定。本财务报告期
末，上述收购对价公允价值折合人民币 84,211,736.13 元。
26、长期应付职工薪酬
(1) 长期应付职工薪酬
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
离职后福利-设定受益计划净负债(注) 64,870,080.23 59,112,683.77
合计 64,870,080.23 59,112,683.77
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。
100
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
26、长期应付职工薪酬 - 续
(2) 设定受益计划变动情况
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
一、期初余额 59,112,683.77 49,009,564.56
二、计入当期损益的设定受益成本 3,431,523.73 3,452,806.92
1、当期服务成本 3,214,159.42 3,081,811.32
2、利息净额 217,364.31 370,995.60
三、其他变动 (204,621.42) 2,037,245.93
1、结算时支付的对价 (204,621.42) (1,000,337.14)
2、合并增加 - 3,037,583.07
四、本期外币报表折算差额 2,530,494.15 3,186,907.15
五、期末余额 64,870,080.23 57,686,524.56
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 2018
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)。
101
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
26、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。
27、预计负债
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
未决诉讼(注 1) 32,769,647.11 32,917,826.55
经营风险准备(注 2) 23,531,830.69 25,680,177.66
合计 56,301,477.80 58,598,004.21
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 1,393,928.50 欧元，折合人民币 10,665,643.92 元。
本财务报告期末， 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 22,104,003.19 元。
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。
28、其他非流动负债
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
政府补助 7,999,663.47 86,720,714.11
营销基金(注 1) 71,435,320.42 63,432,027.77
会员积分 60,752,154.96 50,325,028.92
长租约亏损(注 2) 8,563,820.06 9,724,034.84
其他 4,247,584.31 4,135,858.79
合计 152,998,543.22 214,337,664.43
减：一年内到期的其他非流动负债 3,642,200.00 13,153,024.10
一年后到期的其他非流动负债 149,356,343.22 201,184,640.33
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。
102
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
28、其他非流动负债 - 续
涉及政府补助的项目：
人民币元
本期计入
2017 年 本期新增 2018 年 与资产相关
负债项目 其他收益及资产处
12 月 31 日 补助金额 6 月 30 日 /与收益相关
置收益金额
信息平台扶持基金 3,900,000.00 - 1,950,000.00 1,950,000.00 与资产相关
新城饭店项目扶持基金 4,455,548.72 - 330,550.00 4,124,998.72 与资产相关
时尚之旅项目扶持基金 2,266,500.00 - 416,500.00 1,850,000.00 与资产相关
锦江之星苏州乐园店补助(附注
76,000,000.00 - 76,000,000.00 - 与收益相关
(五)42)
其他 98,665.39 - 24,000.64 74,664.75 与资产相关
合计 86,720,714.11 - 78,721,050.64 7,999,663.47
29、股本
人民币元
2017 年 本期变动 2018 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 117,848,242.00 - - - - - 117,848,242.00
3. 其他内资持股 15,244,482.00 - - - - - 15,244,482.00
4. 外资持股 20,325,976.00 - - - - - 20,325,976.00
有限售条件股份合计 153,418,700.00 - - - - - 153,418,700.00
二、无限售条件股份
1. 人民币普通股 648,517,740.00 - - - - - 648,517,740.00
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 804,517,740.00 - - - - - 804,517,740.00
三、股份总数 957,936,440.00 - - - - - 957,936,440.00
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
103
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
30、资本公积
人民币元
2017 年 2018 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
资本溢价 8,581,663,647.36 - (666,877,795.13) 7,914,785,852.23
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(附注(七)2) (231,234,591.62) - (666,877,795.13) (898,112,386.75)
其他资本公积 128,901,643.62 - - 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 8,710,565,290.98 - (666,877,795.13) 8,043,687,495.85
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
31、其他综合收益
人民币元
本期发生额
2017 年 减：前期计入其他 2018 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
(4,243,725.23) - - - - - (4,243,725.23)
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 460,377,881.01 69,462,019.49 77,376,095.35 (22,543,899.59) 3,184,824.00 11,444,999.73 463,562,705.01
权益法下在被投资单位以后将重分类进损益
1,919,511.69 126,458.24 - - 126,458.24 - 2,045,969.93
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 1,732,485.17 716,784.47 - 257,204.43 459,580.04 - 2,192,065.21
外币财务报表折算差额 36,943,589.09 (46,609,016.70) - - (40,904,658.14) (5,704,358.56) (3,961,069.05)
合计 496,729,741.73 23,696,245.50 77,376,095.35 (22,286,695.16) (37,133,795.86) 5,740,641.17 459,595,945.87
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
104
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
32、盈余公积
人民币元
项目 2017 年 12 月 31 日 本期增加 本期减少 2018 年 6 月 30 日
法定盈余公积 473,197,616.85 - - 473,197,616.85
任意盈余公积 180,681,288.50 - - 180,681,288.50
合计 653,878,905.35 - - 653,878,905.35
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
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。
33、未分配利润
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
期初未分配利润 2,165,192,559.23 1,776,723,536.56
加：本期归属于母公司所有者的净利润 503,408,830.91 412,453,689.41
减：提取法定盈余公积 - -
提取任意盈余公积 - -
应付普通股股利 536,444,406.40 459,809,491.20
转作股本的普通股股利 - -
期末未分配利润 2,132,156,983.74 1,729,367,734.77
34、营业收入、营业成本
(1) 营业收入、营业成本
人民币元
2018 年 1 月 1 日至 2018 年 6 月 30 日 2017 年 1 月 1 日至 2017 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 6,939,091,908.41 701,145,623.29 6,288,923,255.28 603,744,233.37
其他业务 257,239.92 - 89,895.25 30,888.06
合计 6,939,349,148.33 701,145,623.29 6,289,013,150.53 603,775,121.43
(2) 主营业务(分行业)
人民币元
2018 年 1 月 1 日至 2018 年 6 月 30 日 2017 年 1 月 1 日至 2017 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 6,825,512,310.93 648,144,803.45 6,164,205,495.77 544,043,536.49
食品及餐饮业务 113,579,597.48 53,000,819.84 124,717,759.51 59,700,696.88
合计 6,939,091,908.41 701,145,623.29 6,288,923,255.28 603,744,233.37
105
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
34、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
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
中国大陆境内地区 4,961,001,686.98 4,495,089,716.62
其中：上海地区 776,274,497.51 761,640,301.34
上海以外地区 4,184,727,189.47 3,733,449,415.28
中国大陆境外地区 1,978,347,461.35 1,793,923,433.91
合计 6,939,349,148.33 6,289,013,150.53
(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
2018 年 1 月 1 日至 2018 年 6 月 30 日 2017 年 1 月 1 日至 2017 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 3,664,225,439.57 - 3,553,801,490.05 -
餐饮 565,695,926.88 242,441,748.38 546,490,414.70 238,334,307.83
商品销售 431,099,390.04 366,909,943.18 310,956,580.86 266,282,638.89
首次加盟费 265,882,165.15 - 223,812,839.49 -
持续加盟费 1,039,599,691.88 - 880,103,700.03 -
订房渠道费(注) 51,396,945.76 - 46,112,420.29 -
会员卡收益 168,089,459.29 - 149,523,361.80 -
租赁 67,408,076.11 30,826,255.64 65,175,308.59 31,948,399.94
其他 572,115,216.25 7,966,856.25 388,229,379.96 7,478,189.83
合计 6,825,512,310.93 648,144,803.45 6,164,205,495.77 544,043,536.49
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
2018 年 1 月 1 日至 2018 年 6 月 30 日 2017 年 1 月 1 日至 2017 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 22,663,781.90 7,705,120.78 44,816,064.24 20,546,364.39
团体用膳 80,171,646.82 37,283,992.96 71,662,190.63 33,172,859.27
食品销售 9,773,089.75 7,982,108.62 6,668,678.05 5,410,303.21
其他 971,079.01 29,597.48 1,570,826.59 571,170.01
合计 113,579,597.48 53,000,819.84 124,717,759.51 59,700,696.88
106
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
34、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(%)
上海德必投资管理有限公司 18,321,318.51 0.26
WIKA 10,041,090.00 0.14
SYSCO FRANCE 9,826,990.00 0.14
BRASSERIE HEINEKEN 4,855,900.00 0.07
NESTLE WATERS 2,915,730.00 0.04
合计 45,961,028.51 0.65
35、按性质分类的成本与费用
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
商品成本 699,371,598.44 594,953,074.80
职工薪酬 2,302,021,688.91 2,022,851,633.20
其中：工资和薪金 1,822,388,219.93 1,603,587,885.31
社会保险费和住房公积金 400,932,766.52 334,419,811.90
福利费和其他费用 78,700,702.46 84,843,935.99
能源费及物料消耗 459,138,819.28 464,238,640.42
折旧与摊销 688,413,534.05 769,139,690.83
经营租赁费用 905,309,605.03 901,561,794.71
维修和维护费 224,038,872.27 206,512,831.99
其他 942,828,149.95 788,372,533.89
营业成本、销售费用、管理费用及研发费用合计 6,221,122,267.93 5,747,630,199.84
36、税金及附加
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
城市维护建设税 11,513,659.27 10,696,176.49
教育费附加 7,716,659.38 6,768,443.21
房产税 88,881,536.08 86,626,484.22
其他 3,855,987.95 2,524,364.84
合计 111,967,842.68 106,615,468.76
107
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
37、财务费用
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
利息支出 260,142,174.91 297,470,093.36
减﹕已资本化的利息费用 - -
减﹕利息收入 97,897,663.01 120,393,846.73
汇兑差额 6,837,792.64 16,281,198.68
减﹕已资本化的汇兑差额 - -
其他 32,036,062.98 25,412,152.69
合计 201,118,367.52 218,769,598.00
38、资产减值损失
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
一、坏账损失(转回) 16,567,010.87 (2,397,157.98)
二、存货跌价损失(转回) 3,181.71 302,411.46
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 25,010,143.30 11,317,181.97
十一、其他流动资产减值损失(转回) (1,851,666.03) -
合计 39,728,669.85 13,767,386.24
39、其他收益
(1) 其他收益明细：
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
计入当期非经常性损益的金
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
额
止期间 止期间
政府补助 25,379,329.13 18,100,017.83 25,379,329.13
合计 25,379,329.13 18,100,017.83 25,379,329.13
108
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
39、其他收益 - 续
(2) 计入当期损益的政府补助
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 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 22,674,278.49 14,537,200.00 与收益相关
信息平台扶持基金 1,950,000.00 1,950,000.00 与资产相关
锅炉补贴摊销 8,000.64 8,000.64 与资产相关
新城饭店项目扶持基金 330,550.00 342,650.00 与资产相关
时尚之旅项目扶持基金 416,500.00 510,000.00 与资产相关
品牌创新项目补贴 - 752,167.19 与收益相关
合计 25,379,329.13 18,100,017.83
40、投资收益
(1) 投资收益明细情况
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 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 66,728,054.64 53,411,404.56
持有可供出售金融资产期间取得的投资收益 82,601,549.81 71,478,679.48
处置可供出售金融资产取得的投资收益 77,332,976.60 101,583,934.65
处置合营公司的投资收益(注) 9,095,353.40 -
处置子公司的投资收益 - 33,507,766.71
其他 118,785.85 1,225,277.03
合计 235,876,720.30 261,207,062.43
注：本财务报告期间内，本集团下属子公司 GDL 与原持股 50%的合营企业 GT SEA 之另一方股东签署
了关于收购 GT SEA 剩余 50%股权的股权转让协议。于收购日，GDL 根据原 50%股权公允价值与账
面成本的差额确认为投资收益。
(2) 按权益法核算的长期股权投资收益
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
被投资单位 2018 年 6 月 30 日 2017 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 62,980,270.33 56,616,425.56 因营业收入增加，本期盈利高于上期
新亚富丽华 3,877,060.36 3,699,099.74 因营业收入增加，本期盈利高于上期
新鹿餐饮 (73,567.01) 133,721.14 因成本费用增加，本年盈利低于上年
上海齐程网络 (2,560,278.20) (8,296,229.33) 因营业收入增加，本期亏损低于上期
上海吉野家 (452,053.28) 9,393.06 因营业收入下降，本期亏损大于上年
新锦酒店管理 308,352.59 403,535.29 因营业收入下降，本期盈利低于上期
Keystone 之联营企业 (3,389,052.23) (969,053.85) 因成本费用增加，本年亏损大于上年
GDL 之联营企业 6,037,322.08 1,814,512.95 因营业收入增加，本年盈利高于上年
合计 66,728,054.64 53,411,404.56
109
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
40、投资收益 - 续
(3) 持有可供出售金融资产期间取得的投资收益
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
被投资单位 2018 年 6 月 30 日 2017 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 45,927,333.18 38,964,078.50 宣告发放股利有所增加
长江证券股份有限公司 6,000,000.00 7,950,000.00 所持股数减少
苏州肯德基有限公司 20,399,349.80 15,461,142.53 宣告发放股利有所增加
无锡肯德基有限公司 9,168,683.11 7,125,239.26 宣告发放股利有所增加
申万宏源证券股份有限公司 748,478.20 1,496,956.40 宣告发放股利有所减少
其他 357,705.52 481,262.79
合计 82,601,549.81 71,478,679.48
(4) 处置可供出售金融资产取得的投资收益
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
可供出售金融资产名称 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
长江证券(股票代码：000783)(注) 77,376,095.35 86,659,256.47
GDL 之可供出售金融资产(附注(五)(7)) (43,118.75) 14,924,678.18
合计 77,332,976.60 101,583,934.65
注：本财务报告期内，本公司出售长江证券股票共计 13,000,000 股。
41、公允价值变动损益
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
Sarovar 及 Htels et Préférence 少数股东股权收购款余额
12,845,935.20 -
公允价值变动(附注(五)25)
合计 12,845,935.20 -
42、资产处置收益(损失)
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
锦江之星苏州乐园店动迁收益(注) 76,054,473.89 -
其他非流动资产处置收益(损失) (49,069.25) (13,985,068.85)
合计 76,005,404.64 (13,985,068.85)
注：本财务报告期内，本集团下属锦江之星苏州乐园店完成动迁，确认动迁收益人民币 76,054,473.89 元。
110
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
43、营业外收入
(1) 营业外收入明细：
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
计入当期非经常性损益的金
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
额
止期间 止期间
政府补助 10,652,460.12 - 10,652,460.12
无需支付的赔偿款 4,867,408.48 1,579,112.74 4,867,408.48
无法支付的应付账款 - 793,917.68 -
对外索赔收入 4,771,307.60 2,119,624.31 4,771,307.60
其他 6,419,013.48 7,352,046.59 6,419,013.48
合计 26,710,189.68 11,844,701.32 26,710,189.68
(2) 计入当期损益的政府补助
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日 与资产相关/与收益相关
止期间 止期间
地方奖励 3,499,652.12 - 与收益相关
创新奖励 1,000,000.00 - 与收益相关
税收返还 2,075,156.47 - 与收益相关
动迁补偿款 2,139,791.00 - 与收益相关
其他政府补助 1,937,860.53 - 与收益相关
合计 10,652,460.12 -
44、营业外支出
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
罚没支出 696,490.29 528,897.51
事故支出 316,830.49 39,655.89
索赔损失 294,066.40 168.46
未决诉讼预计损失 - 6,000,000.00
其他 3,972,694.55 2,961,956.63
合计 5,280,081.73 9,530,678.49
111
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
45、所得税费用
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 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 235,031,737.90 219,603,659.95
上期所得税汇算清缴调整 (4,039,010.99) 460,817.65
递延所得税 (75,959,132.82) (196,902,687.69)
企业增值税(注) 9,403,558.46 (4,367,488.86)
合计 164,437,152.55 18,794,301.05
所得税费用与会计利润的调节表如下：
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
利润总额 736,949,497.57 469,866,531.93
企业增值税抵扣(注) (9,403,558.48) 4,367,488.86
按 25%的税率计算的所得税费用 181,886,484.77 118,558,505.20
非应税收入的影响 (38,357,763.78) (35,770,267.22)
不可抵扣的成本、费用和损失的影响 17,009,253.78 11,306,195.88
使用前期未确认递延所得税资产的可抵扣亏损的影响 (4,015,667.12) (9,645,710.08)
本期未确认递延所得税资产的可抵扣暂时性差异或可抵
54,512,222.01 40,096,281.52
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 (56,685,131.22) (111,688,518.33)
子公司适用不同税率的影响 4,723,206.64 9,844,485.29
调整以前期间所得税的影响及其他 (4,039,010.99) 460,817.65
企业增值税 9,403,558.46 (4,367,488.86)
所得税费用 164,437,152.55 18,794,301.05
注：根据法国税法规定，企业增值税可以在所得税税前列支。
46、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
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
政府补助及征收补偿 37,033,466.05 10,537,200.00
利息收入 423,432,102.06 80,713,256.80
代收款及其他 154,069,269.37 122,025,465.70
合计 614,534,837.48 213,275,922.50
112
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
46、现金流量表项目注释 - 续
(2) 支付的其他与经营活动有关的现金
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
租赁费 790,764,453.60 858,939,690.17
销售费用及管理费用中的其他支付额 494,747,321.58 463,978,982.50
支付的银行手续费 33,133,677.29 25,461,220.87
其他 65,974,690.71 46,195,947.64
合计 1,384,620,143.18 1,394,575,841.18
(3) 收到的其他与投资活动有关的现金
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 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) 投资所支付的现金
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
出资设立齐程网络 - 100,000,000.00
Keystone 股权投资 - 1,150,002.00
合计 - 101,150,002.00
(5) 支付其他与投资活动有关的现金
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 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 2,262,561.98 6,353,619.89
113
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
46、现金流量表项目注释 - 续
(6) 取得借款收到的现金
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
从关联方融入的借款 417,600,000.00 4,052,550,000.00
从银行融入的借款 9,729,371.16 2,165,881,860.49
合计 427,329,371.16 6,218,431,860.49
(7) 收到其他与筹资活动有关的现金
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 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
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
(8) 偿还债务支付的现金
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
偿还银行借款 3,142,304,260.20 7,657,456,566.03
偿还关联方借款 111,100,000.00 1,100,000,000.00
合计 3,253,404,260.20 8,757,456,566.03
(9) 支付其他与筹资活动有关的现金
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
支付收购 Keystone 少数股东款项 1,094,278,050.05 -
支付融资租赁费 5,646,282.90 5,371,394.21
支付 GDL 子公司少数股东撤资款项 - 3,236,256.60
合计 1,099,924,332.95 8,607,650.81
114
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
47、现金流量表补充资料
(1) 现金流量表补充资料
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
补充资料 2018 年 6 月 30 日 2017 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 572,512,345.02 451,072,230.88
加：计提的资产减值准备 39,728,669.85 13,767,386.24
固定资产折旧 307,858,569.52 364,937,645.71
无形资产摊销 101,090,772.60 101,106,336.28
长期待摊费用摊销 279,464,191.93 303,095,708.84
处置固定资产、无形资产和其他长期资产的损失(收
(76,005,404.64) 13,985,068.85
益)
公允价值变动损失(收益) (12,845,935.20) -
财务费用 260,142,174.91 213,802,749.44
投资损失(收益) (235,876,720.30) (261,207,062.43)
递延所得税资产减少(增加) 19,520,934.69 (32,596,856.91)
递延所得税负债增加(减少) (95,480,067.51) (164,305,830.78)
存货的减少(增加) (6,530,951.29) 7,296,916.22
经营性应收项目的减少(增加) 274,441,249.79 (123,061,366.45)
经营性应付项目的增加(减少) 113,904,496.47 509,318,309.63
经营活动产生的现金流量净额 1,541,924,325.84 1,397,211,235.52
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 6,521,555,005.94 5,239,039,725.54
减：现金的期初余额 9,879,461,634.13 6,358,092,062.93
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 (3,357,906,628.19) (1,119,052,337.39)
(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期支付的现金或现金等价物 13,428,591.86
-Annemasse 13,428,591.86
-GT SEA -
减：购买日子公司持有的现金及现金等价物 1,063,105.30
-Annemasse 151,222.77
-GT SEA 911,882.53
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 331,160.20
-Htels & Préférence 331,160.20
取得子公司支付的现金净额 12,696,646.76
115
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
47、现金流量表补充资料 - 续
(3) 现金和现金等价物的构成
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
一、现金 6,521,555,005.94 9,879,461,634.13
其中：库存现金 12,714,367.78 19,044,894.22
可随时用于支付的银行存款 6,508,840,638.16 9,860,416,739.91
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 6,521,555,005.94 9,879,461,634.13
48、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)1) 515,085.00 保函保证金
Keystone 净资产(附注(五)24(注 1)) 3,183,994,577.46 质押
固定资产(附注(五)9(4)) 174,547,954.09 抵押
固定资产(附注(五)9(3)) 104,786,760.05 未办妥产权证书
合计 3,463,844,376.60
49、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 2018 年 1 月 1 日至 2018 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
2018 年 1 月 1 日至
2018 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
116
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(五) 合并财务报表项目注释 - 续
50、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 503,408,830.91 412,453,689.41
其中：归属于持续经营的净利润 503,408,830.91 412,453,689.41
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 957,936,440.00 957,936,440.00
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 957,936,440.00 957,936,440.00
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 0.5255 0.4306
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 0.5255 0.4306
稀释每股收益(注) 不适用 不适用
注：本集团无稀释性普通股。
(六) 合并范围的变更
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
Annemasse
于 2018 年 6 月 29 日，本集团下属子公司 GDL 与 Annemasse 原股东签署了关于收购 Annemasse 100%股
权的股权转让协议，购买价款为 174.37 万欧元，折合人民币 13,428,591.86 元。于 2018 年 6 月 29 日，上
述股权交割完成。
GT SEA
于 2018 年 4 月，本集团下属子公司 GDL 与原持股 50%的合营企业 GT SEA 之另一方股东签署了关于收
购 GT SEA 剩余 50%股权的股权转让协议。根据约定，收购对价将在未来 10 年内支付完毕。于 2018 年
4 月 30 日，上述股权交割完成，GT SEA 成为 GDL 的全资子公司，100%股权对价为 236 万欧元，折合
人民币 18,190,706.80 元。
117
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(六) 合并范围的变更 - 续
非同一控制下企业合并 - 续
(1) 本期发生的非同一控制下企业合并 - 续
人民币元
股权取 购买日至期末 购买日至期末
股权取 购买日的
被购买方名称 股权取得时点 股权取得成本 得比例 购买日 被购买方的收 被购买方的
得方式 确定依据
(%) 入 净利润
2018 年 支付 2018 年 取得被购买方控制
Annemasse 13,428,591.86 100.00 - -
6 月 29 日 现金 6 月 29 日 权的股权交割日
2018 年 债务购 2018 年 取得被购买方控制
GT SEA 9,095,353.40 50.00 5,276,907.17 586,888.49
4 月 30 日 买 4 月 30 日 权的股权交割日
(2) 合并成本及商誉
人民币元
Annemasse GT SEA(注)
现金 13,428,591.86 9,095,353.40
原 50%股权于收购日公允价值 - 9,095,353.40
合并成本 13,428,591.86 18,190,706.80
减：取得的可辨认净资产公允价值份额 682,774.86 (13,038,470.20)
商誉 12,745,817.00 31,229,177.00
注：于 2018 年 4 月，GDL 与原持股 50%的合营企业 GT SEA 之另一方股东签署了关于收购 GT SEA 剩
余 50%股权的股权转让协议。根据约定，收购对价将在未来 10 年内支付完毕。于 2018 年 4 月 30
日，上述股权交割完成，GT SEA 成为 GDL 的全资子公司，50%股权对价折合人民币 9,095,353.40
元。
(3) 被购买方于购买日可辨认资产、负债
人民币元
Annemasse(注) GT SEA(注)
购买日公允价值 购买日账面价值 购买日公允价值 购买日账面价值
资产：
货币资金 151,222.77 151,222.77 911,882.53 911,882.53
除货币资金外的其他流动资产 2,058,859.16 2,058,859.16 8,321,842.57 8,321,842.57
可供出售金融资产 - - 382,092.64 382,092.64
固定资产 33,817,398.28 30,120,726.28 165,920.52 165,920.52
无形资产 61,611.20 61,611.20 - -
除固定资产、在建工程外的其他
38,883.83 38,883.83 384,227.45 384,227.45
非流动资产
资产小计 36,127,975.24 32,431,303.24 10,165,965.71 10,165,965.71
负债：
流动负债 10,036,977.24 10,036,977.24 23,204,435.91 23,204,435.91
非流动负债 25,408,223.14 25,014,524.03 - -
负债小计 35,445,200.38 35,051,501.27 23,204,435.91 23,204,435.91
净资产 682,774.86 (2,620,198.03) (13,038,470.20) (13,038,470.20)
取得的净资产 682,774.86 (2,620,198.03) (13,038,470.20) (13,038,470.20)
注：Annemasse 及 GT SEA 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
师对其可辨认净资产公允价值进行了评估，截至本财务报表报出日，相关评估工作尚未全部结束，
本集团管理层根据其可辨认净资产的账面价值将其纳入本财务报表，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。
118
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(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 上海锦江国际餐饮投资管理有限公司(“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") 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
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
119
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
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 Star Eco(注 5) 法国 投资控股 - 100.00 非同一控制下企业合并
90 Louvre Htels Group(注 5、6) 法国 投资控股 - 100.00 非同一控制下企业合并
91 Keystone(注 7) 中国 服务 93.0035 - 非同一控制下企业合并
92 七天酒店(深圳)有限公司(注 8) 中国 服务 - 93.0035 非同一控制下企业合并
93 七天四季酒店(广州)有限公司(注 8) 中国 服务 - 93.0035 非同一控制下企业合并
94 Plateno Investment Limited(注 8) 开曼群岛 投资 - 93.0035 非同一控制下企业合并
95 Plateno Group Limited(注 8) 开曼群岛 投资 - 93.0035 非同一控制下企业合并
96 7 Days Group Holdings Limited(注 8) 开曼群岛 投资 - 93.0035 非同一控制下企业合并
97 维也纳酒店(注 9) 中国 服务 80.00 - 非同一控制下企业合并
98 百岁村餐饮(注 10) 中国 服务 80.00 - 非同一控制下企业合并
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。
120
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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 6：Louvre Htels Group 下属子公司合计 366 家，其中全资子公司 323 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。
(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 40.00 634,947.87 - 10,890,341.61
苏州新区锦狮旅馆有限公司 40.00 22,805,751.56 - 29,024,657.69
庐山锦江国际旅馆投资有限公司 40.00 (596,972.26) - 6,023,170.54
上海锦花旅馆有限公司 20.00 675,000.00 - 6,725,270.42
沈阳锦富酒店投资管理有限公司 45.00 (618,684.89) - 4,625,143.29
Sarovar 26.00 1,301,326.62 - 24,981,637.14
Gerestel Rodez Nancy Aurillac 34.00 259,164.89 - 8,393,502.78
Gestion Hotel Cahors Vitrolles 44.50 (53,184.53) - 6,599,106.12
Gestion Htel de St Quentin en Yvelines 13.00 410,376.90 - 6,705,297.78
SCI Chasse 35.00 225,240.90 - 7,130,081.63
Keystone 6.9965 29,504,031.14 1,123,258.62 330,810,238.75
维也纳酒店 20.00 23,991,382.31 - 176,785,835.77
百岁村餐饮 20.00 (2,190,445.02) - 63,382.28
121
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
2018年6月30日 2017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 25,347,750.80 7,134,943.84 32,482,694.64 5,256,840.61 - 5,256,840.61 22,859,597.44 7,753,326.58 30,612,924.02 4,911,577.71 - 4,911,577.71
苏州新区锦狮旅馆有限公司 92,674,534.89 50,377.50 92,724,912.39 20,163,268.18 - 20,163,268.18 83,367,066.23 28,274,601.77 111,641,668.00 20,092,865.68 76,000,000.00 96,092,865.68
庐山锦江国际旅馆投资有限
4,504,756.72 22,678,568.62 27,183,325.34 12,125,398.99 - 12,125,398.99 4,870,202.11 23,537,441.65 28,407,643.76 11,863,256.20 - 11,863,256.20
公司
上海锦花旅馆有限公司 13,075,789.84 51,999,618.370 65,075,408.21 39,947,881.46 - 39,947,881.46 21,041,693.64 32,754,910.06 53,796,603.70 30,167,883.75 - 30,167,883.75
沈阳锦富酒店投资管理有限
10,636,862.91 30,990,102.40 41,626,965.31 21,348,869.13 10,000,000.00 31,348,869.13 8,885,382.75 32,342,945.83 41,228,328.58 19,572,732.01 10,000,000.00 29,572,732.01
公司
Sarovar 77,929,721.73 312,872,935.75 390,802,657.48 24,900,709.59 185,091,690.02 209,992,399.61 79,385,647.46 114,284,657.80 193,670,305.26 12,668,170.59 91,063,922.23 103,732,092.82
GerestelRodezNancyAurillac 18,000,949.20 15,095,330.72 33,096,279.92 4,629,186.42 3,775,456.24 8,404,642.66 16,560,970.90 15,690,641.11 32,251,612.01 3,972,439.15 3,873,135.46 7,845,574.61
GestionHotelCahorsVitrolles 6,270,671.06 17,436,593.84 23,707,264.90 5,993,710.78 2,864,829.28 8,858,540.06 6,054,230.19 17,687,355.01 23,741,585.20 5,465,531.36 3,013,600.46 8,479,131.82
GestionHteldeStQuentinenY
20,396,647.62 78,614,736.72 99,011,384.34 5,118,486.07 42,313,050.11 47,431,536.18 16,297,323.23 81,256,746.64 97,554,069.87 4,876,995.60 43,278,765.45 48,155,761.05
velines
SCIChasse 24,118,542.13 1,077,484.38 25,196,026.51 4,561,000.00 263,617.44 4,824,617.44 23,888,150.23 1,128,832.47 25,016,982.70 4,621,862.65 274,201.71 4,896,064.36
Keystone 3,275,348,158.31 4,784,965,991.27 8,060,314,149.58 2,497,247,818.12 1,576,574,483.24 4,073,822,301.36 2,884,766,247.73 4,757,539,981.25 7,642,306,228.98 2,165,624,460.76 1,806,096,803.50 3,971,721,264.26
维也纳酒店 1,321,053,441.16 754,111,485.36 2,075,164,926.52 1,177,753,010.71 13,482,736.95 1,191,235,747.66 1,192,481,881.77 683,874,619.50 1,876,356,501.27 1,100,471,503.90 11,912,730.06 1,112,384,233.96
百岁村餐饮 36,827,134.36 47,826,544.22 84,653,678.58 84,336,767.21 - 84,336,767.21 47,962,260.60 31,039,111.75 79,001,372.35 67,732,235.86 - 67,732,235.86
人民币元
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间 2017 年 1 月 1 日至 2017 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 8,922,374.70 1,587,369.67 1,587,369.67 1,336,576.37 9,003,920.38 1,607,987.66 1,607,987.66 (4,539,692.05)
苏州新区锦狮旅馆有限公司 5,416.79 57,014,378.89 57,014,378.89 10,494,435.90 4,096,914.77 1,159,884.56 1,159,884.56 46,141,471.28
庐山锦江国际旅馆投资有限公司 2,172,942.82 (1,492,430.66) (1,492,430.66) 891,163.68 1,628,023.48 (1,847,954.13) (1,847,954.13) 1,258,572.90
上海锦花旅馆有限公司 9,057,955.44 1,509,472.45 1,509,472.45 (5,920,327.11) 15,275,921.18 3,819,888.62 3,819,888.62 3,918,778.76
沈阳锦富酒店投资管理有限公司 6,670,319.23 (1,374,855.34) (1,374,855.34) 2,302,900.10 5,733,862.38 (1,793,439.96) (1,793,439.96) 6,673,432.07
Sarovar 50,978,249.35 3,703,775.75 3,703,775.75 11,278,593.24 49,434,147.65 7,157,398.56 7,157,398.56 8,793,110.66
Gerestel Rodez Nancy Aurillac 8,479,598.28 503,084.79 503,084.79 36,657.35 7,652,081.44 (72,817.51) (72,817.51) 634,709.59
Gestion Hotel Cahors Vitrolles 9,497,355.93 (66,331.27) (66,331.27) 1,308,188.68 9,149,391.48 (1,260,676.89) (1,260,676.89) 638,276.18
Gestion Htel de St Quentin en Yvelines 12,356,181.92 2,746,368.50 2,746,368.50 275,895.18 723,679.73 640,526.83 640,526.83 80.88
SCI Chasse 740,270.35 418,293.47 418,293.47 186.37 12,577,727.61 3,622,405.63 3,622,405.63 1,167,359.38
Keystone 2,009,471,929.18 153,322,920.09 317,030,142.12 446,212,416.63 1,838,552,793.10 112,130,093.58 115,143,026.64 484,618,601.32
维也纳酒店 1,269,454,181.37 119,956,911.55 119,956,911.55 217,296,715.17 1,026,987,083.39 94,852,579.17 94,852,579.17 277,317,365.80
百岁村餐饮 153,574,623.28 (10,952,225.12) (10,952,225.12) 25,190,021.47 147,741,902.60 (3,993,613.48) (3,993,613.48) (1,472,802.09)
122
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(七) 在其他主体中的权益 - 续
2、在子公司的所有者权益份额发生变化且仍控制子公司的交易
本财务报告期内，本公司收购 Keystone 少数股东股权新增长期股权投资人民币 1,204,778,376.39 元。完成交割后，本公司持有 Keystone 股权比例增长至 93.0035%。
人民币元
Keystone
3购买成本
、
--现金 1,204,778,376.39
在
购买对价合计 1,204,778,376.39
联
减：按取得的股权比例计算的子公司净资产份额 537,900,581.26
营
差额 666,877,795.13
企
其中：调整资本公积 666,877,795.13
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
齐程网络 中国 中国(上海)自由贸易试验区罗山路 1502 弄 14 号 网络科技信息技术 10 - 以权益法核算
123
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
2018 年 6 月 30 日/2018 年 1 月 1 日至 2018 年 6 月 30 日 2017 年 6 月 30 日/2017 年 1 月 1 日至 2017 年 6 月 30 日
止期间 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 齐程网络
流动资产 110,588,877.52 88,045,489.12 417,941,316.46 101,581,764.13 85,943,648.82 385,523,524.22
其中：现金和现金等价物 101,858,294.88 64,545,422.65 258,841,749.88 91,063,046.06 68,677,116.78 338,665,746.46
非流动资产 480,751,287.03 29,719,488.10 583,854,801.57 482,979,282.57 32,621,844.36 604,581,596.68
资产合计 591,340,164.55 117,764,977.22 1,001,796,118.03 584,561,046.70 118,565,493.18 990,105,120.90
流动负债 158,485,908.73 44,586,363.18 387,092,219.40 156,519,110.67 45,238,163.18 204,668,250.00
非流动负债 44,847,704.73 1,732,071.50 70,006,594.56 55,247,569.78 1,836,902.50 214,410,848.02
负债合计 203,333,613.46 46,318,434.68 457,098,813.96 211,766,680.45 47,075,065.68 419,079,098.02
少数股东权益 - - -
归属于母公司股东权益 388,006,551.09 71,446,542.54 544,697,304.07 372,794,366.25 71,490,427.50 571,026,022.88
按持股比例计算的净资产份额 162,962,751.46 29,293,082.44 54,469,730.41 156,573,633.83 29,311,075.28 57,102,602.29
对联营企业权益投资的账面价值 162,962,751.62 29,293,082.42 54,469,730.39 156,573,633.90 29,311,075.26 57,102,602.29
营业收入 1,540,181,196.01 143,382,615.91 91,005,471.08 1,513,232,647.17 131,527,585.61 3,650,479.20
财务费用 (3,667,288.81) 430,546.99 (701,793.88) (2,308,277.87) 370,210.96 (841,437.82)
所得税费用 42,114,436.86 3,152,081.65 (1,657,079.75) 45,609,444.01 3,007,398.17 -
净利润(亏损) 149,980,012.74 9,456,244.79 (23,824,992.20) 134,821,804.56 9,022,194.17 (82,962,293.32)
其他综合收益 - - -
综合收益总额 149,980,012.74 9,456,244.79 (23,824,992.20) 134,821,804.56 9,022,194.17 (82,962,293.32)
本期收到的来自联营企业的股利 113,316,970.03 5,740,000.00 - 87,297,483.35 4,592,000.00 -
(3) 不重要的联营企业的汇总财务信息
人民币元
2018 年 6 月 30 日/2018 年 1 2017 年 6 月 30 日/2017 年 1
月 1 日至 2018 年 6 月 30 日止 月 1 日至 2017 年 6 月 30 日止
期间 期间
联营企业
投资账面价值合计 114,390,799.05 145,561,323.68
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 2,431,002.15 1,392,108.59
(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。
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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
2018 年 1 月 1 日至 2018 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
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 2018 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 2018 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)(17)、 (24)及(25))
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。
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 2018 年 1 月 1 日至 2018
年 6 月 30 日止期间及 2017 年 1 月 1 日至 2017 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
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间/ 2017 年 1 月 1 日至 2017 年 6 月 30 日止期间/
利率变动 2018 年 6 月 30 日 2017 年 6 月 30 日
对利润的影响 对股东权益的影响 对利润的影响 对股东权益的影响
上升 25 个基点 (18,140) (18,140) (27,519) (27,519)
下降 25 个基点 18,140 18,140 27,519 27,519
125
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
1.1.3.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 2018 年 6 月 30 日，本集团的可供出售权益
工具详见附注(五)7。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 2018 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 78,569,770.99 元。
1.2 信用风险
于 2018 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 2018 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。
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：
人民币元
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 25,648,796.62 - - 25,648,796.62
应付账款 2,031,379,121.43 - - 2,031,379,121.43
应付股利 502,414.89 - - 502,414.89
其他应付款 1,619,688,461.26 - - 1,619,688,461.26
长期借款及一年内到期的非流动负债 503,067,293.77 17,710,453,705.25 89,304,460.48 18,302,825,459.50
长期应付款及一年内到期的非流动负债 12,962,214.24 193,854,164.51 178,750,940.04 385,567,318.79
126
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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 - 续
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。2018 年 1 月 1 日至 2018 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。
(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
2018 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 289,809,927.17 757,787,019.40 - 1,047,596,946.57
持续以公允价值计量的资产总额 289,809,927.17 757,787,019.40 - 1,047,596,946.57
交易性金融负债 - - - -
其中：衍生金融负债 - 3,564,106.96 - 3,564,106.96
长期应付款 - - 93,391,424.32 93,391,424.32
持续以公允价值计量的负债总额 - 3,564,106.96 93,391,424.32 96,955,531.28
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 2018 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
人民币元
2018 年 6 月 30 日的公允价值 估值技术 输入值
可供出售金融资产(注) 757,787,019.40 市场法 近期交易价格
衍生金融负债 3,564,106.96 现金流量折现法 折现率及远期利率
127
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(九) 公允价值的披露 - 续
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 - 续
注：本财务报告期末，本集团持有的可供出售权益工具持续第二层次公允价值计量的金融资产，系持有
的同程艺龙股权。
于 2018 年 6 月 30 日，本集团对同程艺龙股权采用估值技术进行了公允价值计量，主要采用了近
期可比交易价格的估值技术，参考 2018 年 6 月同程艺龙引入投资者的股权单位价格来确定公允价值。
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
人民币元
2018 年 6 月 30 日的
估值技术 输入值 加权平均值
公允价值
长期应付款-Htels et
9,179,688.19 现金流量折现法 折现率 12%
Préférence
长期应付款-Sarovar 84,211,736.13 现金流量折现法 折现率 5.51%
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。
(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
母公司对本企业
母公司名称 注册地 业务性质 注册资本 企业的持股
的表决权比例(%)
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。
128
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
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
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
129
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
(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
上海锦江国际电子商务有限公司 同一最终控制方
锦江国际商务有限公司 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”)
130
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
2018 年 1 月 1 日至 2017 年 1 月 1 日至 2017
关联方 关联交易内容 2018 年 6 月 30 日 年 6 月 30 日
止期间 止期间
1.采购酒店物品、食品
锦江酒店集团及其下属企业 采购酒店物品、食品 279,301.57 283,280.02
锦江国际及其下属企业 采购酒店物品、食品 9,100.00 11,700.00
联营企业 采购酒店物品、食品 457,598.11 -
小计 745,999.68 294,980.02
2.采购会籍礼包
锦江国际及其下属企业 采购会籍礼包 2,169,810.18 -
小计 2,169,810.18 -
3.接受劳务
锦江国际及其下属企业 积分服务费用 - 1,784,954.56
小计 - 1,784,954.56
锦江国际及其下属企业 技术系统服务费 5,340,686.18 -
小计 5,340,686.18 -
锦江国际及其下属企业 订房服务费 5,685,351.83 220,696.41
小计 5,685,351.83 220,696.41
出售商品/提供劳务情况表：
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
关联方 关联交易内容 2018 年 6 月 30 日 2017 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
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 334,701.71 415,058.73
小计 334,701.71 873,499.41
2.房费核算服务收入(注)
锦江国际及其下属企业 房费核算服务收入 19,460,195.76 -
小计 19,460,195.76 -
3.会籍礼包方案设计及推广(注)
锦江国际及其下属企业 会籍礼包方案设计及推广 18,360,926.61 -
小计 18,360,926.61 -
注：本财务报告期内，根据合同约定，本集团部分品牌酒店收取的房费通过上海锦江国际电子商务有限
公司(“锦江电商”)归集，并由本公司之子公司锦江之星旅馆有限公司统一收回，同时，锦江之星
旅
馆有限公司向锦江电商提供房费核算服务以及会籍礼包方案设计及推广服务。
131
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
(1) 购销商品、提供和接受劳务的关联交易 - 续
出售商品/提供劳务情况表：- 续
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
关联方 关联交易内容 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
4.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
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
小计 - 264,737.74
5.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
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
小计 - 24,024.78
6.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
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 159,795.35 101,908.24
小计 159,795.35 197,947.27
锦江酒店集团及其下属企业 销售食品 805,711.13 794,039.31
锦江国际及其下属企业 销售食品 694,024.54 74,726.48
小计 1,499,735.67 868,765.79
(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 59,410.71
小计 59,410.71 59,410.71
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 4,902,593.58
南华亭酒店(注) 经营区域 4,070,080.86 4,070,080.86
白玉兰宾馆(注) 经营区域 4,229,649.60 4,229,649.60
上海锦江饭店有限公司 餐厅及员工楼 1,302,258.13 1,302,258.13
锦江国际 办公区域及经营区域 1,596,411.48 1,317,062.85
上海东锦江大酒店有限公司 办公区域 - 5,811.72
上海锦江乐园 经营区域 1,520,834.53 1,520,834.53
上海锦江物业管理公司 办公区域及海宁店销售店铺 352,579.31 352,579.31
武汉锦江国际大酒店有限公司 餐厅 75,723.75 230,171.24
上海锦江国际投资管理有限公司 办公区域 642,765.72 642,765.72
小计 18,692,896.96 18,573,807.54
注： 有关本公司与锦江酒店集团子公司南华亭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)。
132
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
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。
上述受托经营酒店及租入酒店 2018 年 1 月 1 日至 2018 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。
133
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
2018 年 1 月 1 日至 2017 年 1 月 1 日至
委托经营方/出租方名称 2018 年 6 月 30 日 2017 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 15,072,000.00
青年会大酒店 5,520,000.00 5,520,000.00
南华亭酒店 4,284,000.00 4,284,000.00
白玉兰宾馆 4,452,000.00 4,452,000.00
合计 29,328,000.00 29,328,000.00
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 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 30,147,774.91 26,413,734.30
(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 3,052,948,500.00 2017 年 11 月 17 日 2022 年 4 月 29 日 否
锦江国际 海路投资 2,831,055,000.00 2017 年 11 月 17 日 2022 年 11 月 16 日 否
134
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
(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 4,980,000.00 2016 年 10 月 12 日 2019 年 10 月 11 日 信用借款
财务公司 20,000.00 2016 年 10 月 12 日 2018 年 06 月 15 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
财务公司 1,000,000.00 2017 年 11 月 13 日 2020 年 11 月 5 日 信用借款
财务公司 1,000,000.00 2017 年 11 月 17 日 2020 年 11 月 5 日 信用借款
财务公司 5,000,000.00 2017 年 11 月 6 日 2020 年 11 月 5 日 信用借款
财务公司 500,000.00 2017 年 12 月 14 日 2020 年 11 月 5 日 信用借款
财务公司 10,000,000.00 2017 年 12 月 27 日 2018 年 06 月 15 日 信用借款
财务公司 10,000,000.00 2017 年 12 月 27 日 2018 年 12 月 15 日 信用借款
财务公司 10,000,000.00 2017 年 12 月 27 日 2019 年 06 月 15 日 信用借款
财务公司 10,000,000.00 2017 年 12 月 27 日 2019 年 12 月 15 日 信用借款
财务公司 10,000,000.00 2017 年 12 月 27 日 2020 年 06 月 15 日 信用借款
财务公司 90,000,000.00 2017 年 12 月 27 日 2018 年 06 月 15 日 信用借款
财务公司 60,000,000.00 2017 年 12 月 27 日 2020 年 12 月 26 日 信用借款
财务公司 2,500,000.00 2017 年 12 月 4 日 2020 年 11 月 5 日 信用借款
财务公司 2,980,000.00 2017 年 1 月 12 日 2020 年 1 月 11 日 信用借款
财务公司 20,000.00 2017 年 1 月 12 日 2018 年 06 月 15 日 信用借款
财务公司 7,910,000.00 2017 年 1 月 3 日 2019 年 12 月 28 日 信用借款
财务公司 60,000.00 2017 年 1 月 3 日 2018 年 06 月 15 日 信用借款
财务公司 7,970,000.00 2017 年 4 月 11 日 2020 年 4 月 11 日 信用借款
财务公司 4,500,000.00 2017 年 7 月 11 日 2018 年 7 月 10 日 信用借款
财务公司 9,200,000.00 2018 年 1 月 1 日 2020 年 11 月 5 日 信用借款
财务公司 2,400,000.00 2018 年 1 月 1 日 2020 年 5 月 5 日 信用借款
财务公司 5,000,000.00 2018 年 1 月 5 日 2018 年 6 月 15 日 信用借款
财务公司 5,000,000.00 2018 年 1 月 5 日 2018 年 12 月 15 日 信用借款
财务公司 10,000,000.00 2018 年 1 月 5 日 2019 年 6 月 15 日 信用借款
财务公司 10,000,000.00 2018 年 1 月 5 日 2019 年 12 月 15 日 信用借款
财务公司 10,000,000.00 2018 年 1 月 5 日 2020 年 6 月 15 日 信用借款
财务公司 360,000,000.00 2018 年 1 月 5 日 2020 年 12 月 15 日 信用借款
财务公司 6,000,000.00 2018 年 5 月 17 日 2019 年 5 月 16 日 信用借款
Master Melon Capital 3,825,750,000.00 2017 年 5 月 15 日 2022 年 5 月 10 日 信用借款
小计 4,487,790,000.00
拆出
新锦酒店管理 5,100,000.00 2017 年 11 月 15 日 2018 年 11 月 14 日 委托贷款
新锦酒店管理 900,000.00 2017 年 11 月 15 日 2018 年 6 月 15 日 委托贷款
小计 6,000,000.00
135
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
(5) 关联方资金拆借情况 - 续
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
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
利息支出 12,658,157.74 12,722,073.37
利息收入 6,819,988.81 6,363,316.69
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 2018 年 6 月 30 日 2017 年 12 月 31 日
期末存款余额 1,481,753,598.03 1,466,352,167.87
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
财务公司 2018 年 6 月 30 日 2017 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 6,834,011,953.39 6,547,066,241.27
报告期内累计从财务公司取出的存款资金 6,818,610,523.23 6,319,753,492.66
(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
2018 年 6 月 30 日 2017 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 1,875,699.09 - 1,332,479.69 -
应收账款 锦江国际及其下属企业 85,921,521.06 - 55,489,402.89 -
应收账款 GDL 之关联企业 30,364,595.18 4,544,991.00 27,120,794.80 3,475,924.65
小计 118,161,815.33 4,544,991.00 83,942,677.38 3,475,924.65
其他应收款 锦江酒店集团及其下属企业 2,680,968.15 - 1,139,545.44 -
其他应收款 锦江国际及其下属企业 9,369,539.04 - 1,315,796.83 -
其他应收款 GDL 之关联企业 5,547,337.50 5,547,337.50 5,656,667.50 5,656,667.50
其他应收款 Keystone 之关联企业 - - 1,451,635.63 -
小计 17,597,844.69 5,547,337.50 9,563,645.40 5,656,667.50
预付款项 锦江酒店集团及其下属企业 4,319,812.85 - - -
小计 4,319,812.85 - - -
应收利息 锦江酒店集团及其下属企业 1,584,237.55 - 913,745.05 -
应收利息 旅馆投资之关联企业 12,120.00 - 7,975.00 -
小计 1,596,357.55 - 921,720.05 -
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
其他流动资产 旅馆投资之关联企业 5,100,000.00 - 6,000,000.00 -
小计 10,643,803.80 5,543,803.80 11,543,803.80 5,543,803.80
136
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(十) 关联方及关联交易 - 续
6、关联方应收应付款项 - 续
(2) 应付项目
人民币元
项目名称 关联方 2018 年 6 月 30 日 2017 年 12 月 31 日
应付账款 锦江酒店集团及其下属企业 2,409,998.83 3,246,128.36
应付账款 锦江国际及其下属企业 8,842,721.77 7,455,263.21
小计 11,252,720.60 10,701,391.57
其他应付款 锦江酒店集团及其下属企业 1,960,657.50 4,323,194.70
其他应付款 锦江国际及其下属企业 5,353,561.17 2,360,004.42
小计 7,314,218.67 6,683,199.12
应付利息 锦江酒店集团及其下属企业 616,755.14 166,585.29
应付利息 旅馆投资之关联企业 1,500.00 1,050.00
小计 618,255.14 167,635.29
(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
2018 年 6 月 30 日 2017 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 245,576 235,578
-对外投资承诺 - 1,204,800
合计 245,576 1,440,378
(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
2018 年 6 月 30 日 2017 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 1,634,038 1,746,817
资产负债表日后第 2 年 1,683,519 1,704,613
资产负债表日后第 3 年 1,591,922 1,638,118
以后年度 8,505,803 9,605,257
合计 13,415,282 14,694,805
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。
137
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(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。
138
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(十三) 分部报告 - 续
1、分部报告信息
2018 年 1 月 1 日至 2018 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 4,847,164,849.58 1,978,347,461.35 113,579,597.48 257,239.92 - 6,939,349,148.33
分部间交易收入 207,469.02 3,814,072.14 2,227,107.77 1,779,999.86 (8,028,648.79) -
分部营业收入合计 4,847,372,318.60 1,982,161,533.49 115,806,705.25 2,037,239.78 (8,028,648.79) 6,939,349,148.33
营业成本
对外交易成本 497,820,789.62 150,324,013.83 53,000,819.84 - - 701,145,623.29
分部间交易成本 - - 1,456,020.76 - (1,456,020.76) -
分部营业成本合计 497,820,789.62 150,324,013.83 54,456,840.60 - (1,456,020.76) 701,145,623.29
减：税金及附加 31,904,640.23 79,029,051.90 349,475.60 684,674.95 - 111,967,842.68
销售费用 2,544,858,170.56 1,107,374,538.56 21,699,123.37 - (664,611.90) 3,673,267,220.59
管理费用 1,238,771,476.47 453,173,207.19 47,571,229.90 18,321,997.91 (5,908,016.13) 1,751,929,895.34
研发费用 1,531,727.05 - - - - 1,531,727.05
财务费用 19,935,622.61 82,669,903.12 879,513.59 101,712,637.60 (4,079,309.40) 201,118,367.52
资产减值损失 30,287,035.38 9,442,398.97 (764.50) - - 39,728,669.85
加:公允价值变动损益 - 12,845,935.20 - - - 12,845,935.20
投资收益 (2,961,913.80) 15,132,871.17 141,900,643.51 85,884,428.82 (4,079,309.40) 235,876,720.30
资产处置收益(损失) 75,201,419.18 120,734.85 693,621.11 (10,370.50) - 76,005,404.64
其他收益 13,528,878.19 - 1,098,800.00 10,751,650.94 - 25,379,329.13
分部账面营业利润 568,031,240.25 128,247,961.14 134,544,351.31 (22,056,361.42) - 808,767,191.28
营业外收入 16,300,125.52 10,345,118.82 34,974.55 29,970.79 - 26,710,189.68
营业外支出 882,845.04 4,106,779.49 290,457.20 - - 5,280,081.73
分部账面利润总额 583,448,520.73 134,486,300.47 134,288,868.66 (22,026,390.63) - 830,197,299.23
所得税 191,663,675.35 54,020,196.11 1,173,586.17 606,801.00 - 247,464,258.63
分部账面净利润 391,784,845.38 80,466,104.36 133,115,282.49 (22,633,191.63) - 582,733,040.60
减：收购日被收购方可辨认净资产公允价
45,837,035.37 (35,616,339.79) - - - 10,220,695.58
值超过账面价值部分的摊销(注)
净利润 345,947,810.01 116,082,444.15 133,115,282.49 (22,633,191.63) - 572,512,345.02
少数股东损益 69,703,782.16 (70,974.41) (529,293.64) - - 69,103,514.11
归属于母公司所有者的净利润 276,244,027.85 116,153,418.56 133,644,576.13 (22,633,191.63) - 503,408,830.91
139
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(十三) 分部报告 - 续
1、分部报告信息 - 续
2018 年 1 月 1 日至 2018 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 24,185,089,992.37 13,485,805,792.02 291,027,262.08 2,272,767,654.79 (795,974,440.80) 39,438,716,260.46
其中：分部账面资产 14,884,888,829.38 6,339,976,232.33 96,977,861.16 2,218,297,924.39 (795,974,440.80) 22,744,166,406.46
分部账面长期股权投资 48,061,739.70 64,535,492.46 194,049,400.92 54,469,730.40 - 361,116,363.48
收购日被收购方可辨认资产公允价
2,744,117,595.56 2,288,047,062.96 - - - 5,032,164,658.52
值超过账面价值的摊余金额(注)
商誉 6,508,021,827.73 4,793,247,004.27 - - - 11,301,268,832.00
负债总额 7,642,020,548.10 12,268,056,223.36 152,265,691.60 6,456,748,184.37 (494,884,629.22) 26,024,206,018.21
其中：分部账面负债 6,955,991,149.21 11,658,242,621.20 152,265,691.60 6,456,748,184.37 (494,884,629.22) 24,728,363,017.16
收购日被收购方可辨认负债公允价
686,029,398.89 609,813,602.16 - - - 1,295,843,001.05
值超过账面价值的摊余金额(注)
补充信息：
折旧 142,694,654.95 163,965,390.37 794,720.32 403,803.88 - 307,858,569.52
摊销 354,501,826.20 25,567,959.59 319,760.32 165,418.42 - 380,554,964.53
利息收入 29,248,884.04 433,189.42 175,201.78 68,040,387.77 - 97,897,663.01
利息支出 30,748,376.11 68,138,337.12 969,537.34 164,365,233.74 (4,079,309.40) 260,142,174.91
当期确认(转回)的减值损失 30,287,035.38 9,442,398.97 (764.50) - - 39,728,669.85
采用权益法核算的长期股权投资确认的
(3,080,699.64) 6,037,322.08 66,405,277.41 (2,633,845.21) - 66,728,054.64
投资收益(损失)
采用权益法核算的长期股权投资金额 48,061,739.70 64,535,492.46 194,049,400.92 54,469,730.40 - 361,116,363.48
长期股权投资以外的非流动资产 18,072,115,984.87 11,753,885,230.76 34,931,328.25 852,129,273.64 (595,983,267.71) 30,117,078,549.81
资本性支出 319,398,104.00 93,746,202.21 221,565.67 67,401.70 - 413,433,273.58
其中：在建工程支出 292,441,113.55 55,411,471.75 - - - 347,852,585.30
购置固定资产支出 25,593,873.43 29,380,678.72 221,565.67 2,529.91 - 55,198,647.73
购置无形资产支出 1,363,117.02 6,454,148.49 - 64,871.79 - 7,882,137.30
购置长期待摊费用支出 - 2,499,903.25 - - - 2,499,903.25
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、递延所得税费用影响及本财务报告期末的摊余金额。
140
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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：
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
141
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
2,866,349,689.90 2,356,727,486.01 - - - 5,223,077,175.91
值超过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
716,587,422.48 695,320,705.84 - - - 1,411,908,128.32
值超过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、递延所得税费用影响及本财务报告期末的摊余金额。
142
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
2018 年 6 月 30 日 2017 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 253,465.44 442,827.96
银行存款：
人民币 451,545,239.01 4,364,155,181.87
美元 16,572,067.35 6.6166 109,650,740.81 64,854,400.01 6.5342 423,772,449.55
其他金融机构存款(注)：
人民币 603,053,497.71 160,033,477.59
合计 1,164,502,942.97 64,854,400.01 4,948,403,936.97
注：其他金融机构存款系存放于财务公司的款项。
2、应收票据及应收账款
于 2018 年 6 月 30 日及 2017 年 12 月 31 日，本公司应收票据余额为零。
(1) 应收账款按种类披露：
人民币元
2018 年 6 月 30 日 2017 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
22,008,784.86 100.00 1,138,585.04 5.17 20,870,199.82 18,326,435.01 100.00 144,115.93 0.79 18,182,319.08
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 22,008,784.86 100.00 1,138,585.04 5.17 20,870,199.82 18,326,435.01 100.00 144,115.93 0.79 18,182,319.08
组合中，按账龄分析法计提坏账准备的应收账款：
人民币元
2018 年 6 月 30 日
账龄
金额 坏账准备 计提比例(%)
3 个月以内 17,712,381.99 - -
3 至 6 个月 1,439,301.06 7,054.46 0.50
6 至 12 个月 2,300,761.64 575,190.41 25.00
12 个月以上 556,340.17 556,340.17 100.00
合计 22,008,784.86 1,138,585.04 5.17
(2) 本期计提、收回或转回的坏账准备情况
人民币元
项目 2017 年 12 月 31 日 本期计提额 本期转回额 本期转销额 2018 年 6 月 30 日
坏账准备 144,115.93 1,004,433.12 (9,964.01) - 1,138,585.04
143
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
2、应收票据及应收账款 - 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
上海锦江国际电子商务有限公司 关联方 3,178,459.06 14.44 -
上海杨浦唐宫海鲜舫有限公司 第三方 2,836,252.66 12.89 518,189.32
上海赫程国际旅行社有限公司 第三方 1,177,654.00 5.35 -
锦亚餐饮 子公司 799,999.90 3.63 -
荣哥餐饮(上海)有限公司 第三方 398,125.02 1.81 -
合计 8,390,490.64 38.12 518,189.32
3、其他应收款
人民币元
其他应收款项目 2018 年 6 月 30 日 2017 年 12 月 31 日
其他应收款 98,188,389.11 104,109,271.11
应收股利 207,042,892.50 19,501,982.55
应收利息 214,669.00 406,664,071.10
合计 305,445,950.61 530,275,324.76
(1) 其他应收款按种类披露：
人民币元
2018 年 6 月 30 日 2017 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
81,841,372.33 82.84 - - 81,841,372.33 83,004,716.64 79.27 - - 83,004,716.64
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
16,953,282.71 17.16 606,265.93 3.58 16,347,016.78 21,710,820.40 20.73 606,265.93 2.79 21,104,554.47
提坏账准备的其他应收款
合计 98,794,655.04 100.00 606,265.93 0.61 98,188,389.11 104,715,537.04 100.00 606,265.93 0.58 104,109,271.11
本财务报告年末本公司单项金额重大的其他应收款为金额大于人民币 500 万元的应收关联方款项。
(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 2018 年 6 月 30 日 2017 年 12 月 31 日
关联方代垫资金 94,414,064.16 100,911,591.83
押金及保证金 541,370.38 543,370.38
业务周转金 209,700.00 201,500.00
其他 3,023,254.57 2,452,808.90
合计 98,188,389.11 104,109,271.11
144
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
3、其他应收款 - 续
(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 42,060,509.29 4至8年 42.57 -
闵行饭店 关联方代垫资金 子公司 20,215,458.58 3至6年 20.46 -
锦江之星 关联方代垫资金 子公司 10,356,048.64 1至5年 10.48 -
卢浮亚洲 关联方代垫资金 子公司 9,209,355.82 2至6年 9.32 -
成套设备 关联方代垫资金 子公司 4,472,035.67 2至7年 4.53 -
合计 86,313,408.00 87.36 -
(5) 应收利息
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
银行定期存款 - 406,373,790.26
委托贷款 214,669.00 290,280.84
合计 214,669.00 406,664,071.10
(6) 应收股利
人民币元
相关款项
2017 年 2018 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 6 月 30 日
减值
账龄一年以内的应收股利
(1)锦江之星 - 150,000,000.00 - 150,000,000.00 尚未发放 否
(2)锦江都城 - 41,000,000.00 (41,000,000.00) - 不适用 否
(3)锦江食品 - 900,000.00 (450,000.00) 450,000.00 尚未发放完毕 否
(4)新亚富丽华 - 5,740,000.00 (5,740,000.00) - 不适用 否
(5)上海肯德基有限公司 - 113,316,970.03 (113,316,970.03) - 不适用 否
(6)杭州肯德基有限公司 19,482,475.25 45,927,333.18 (28,667,325.42) 36,742,483.01 尚未发放完毕 否
(7)苏州肯德基有限公司 - 20,399,349.80 (12,800,000.00) 7,599,349.80 尚未发放完毕 否
(8)无锡肯德基有限公司 19,507.30 9,168,683.11 (4,000,000.00) 5,188,190.41 尚未发放完毕 否
(9)长江证券 - 6,000,000.00 - 6,000,000.00 尚未发放 否
(10)申万宏源 - 748,478.20 - 748,478.20 尚未发放 否
(11)其他 314,391.08 314,391.08 尚未发放 否
合计 19,501,982.55 393,515,205.40 (205,974,295.45) 207,042,892.50 -- --
本财务报告期末，本公司无账龄一年以上的应收股利。
4、存货
人民币元
2018 年 6 月 30 日 2017 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 823,276.26 - 823,276.26 996,991.69 - 996,991.69
库存商品 2,701,252.70 - 2,701,252.70 2,519,693.77 - 2,519,693.77
合计 3,524,528.96 - 3,524,528.96 3,516,685.46 - 3,516,685.46
145
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
5、其他流动资产
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
增值税 - 6,383,549.81
所得税 1,286,781.88 -
待摊费用 2,328,467.39 -
合计 3,615,249.27 6,383,549.81
6、长期应收款
人民币元
2018 年 6 月 30 日 2017 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。
7、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 2018 年 6 月 30 日 2017 年 12 月 31 日
对子公司投资 15,369,025,680.26 14,164,247,303.87
对联营企业投资 246,725,564.44 303,820,948.75
合计 15,615,751,244.70 14,468,068,252.62
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 15,613,699,944.70 14,466,016,952.62
(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
2017 年 2018 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
146
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
7、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 2017 年 本期计提 2018 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(注 2) 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
餐饮投资 成本法 149,804,836.13 149,804,836.13 - - 149,804,836.13 100% 100% 不适用 -
锦江国际食品 (注 1) 成本法 3,269,783.41 3,269,783.41 - - 3,269,783.41 18% 18% 不适用 -
闵行饭店 (注 1) 成本法 5,505,600.00 5,505,600.00 - - 5,505,600.00 98.25% 98.25% 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 1) 成本法 1,088,150.00 1,088,150.00 - - 1,088,150.00 5% 5% 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 -
旅馆投资 成本法 2,033,088,660.71 2,033,088,660.71 - - 2,033,088,660.71 100% 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 -
卢浮亚洲 成本法 50,000,000.00 50,000,000.00 - - 50,000,000.00 100% 100% 不适用 -
时尚之旅 成本法 986,345,057.89 1,286,345,057.89 - - 1,286,345,057.89 100% 100% 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 -
锦卢投资管 成本法 350,000,000.00 350,000,000.00 - - 350,000,000.00 100% 100% 不适用 -
Keystone (注 2) 成本法 9,337,318,376.39 8,132,540,000.00 1,204,778,376.39 - 9,337,318,376.39 93.0035% 93.0035% 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 -
合计 15,069,025,680.26 14,164,247,303.87 1,204,778,376.39 - 15,369,025,680.26 2,051,300.00
注 1：本公司及子公司餐饮投资对锦江国际食品持股比例分别为 18%和 92%，对闵行饭店持股比例分别为 98.25%及 1.75%，对新亚食品持股比例分别为 5%及 95%。
注 2：本财务报告期内，本公司收购 Keystone 少数股东股权新增长期股权投资人民币 1,204,778,376.39 元。完成交割后，本公司持有 Keystone 93.0035%的股权。
147
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
7、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
2017 年 2018 年 减值准备
被投资单位 初始投资成本 权益法下确认的 宣告发放现金股
12 月 31 日 追加投资 减少投资 其他减少 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 利或利润
联营企业
上海肯德基 97,977,250.00 213,299,451.31 - - 62,980,270.34 - - (113,316,970.03) - - 162,962,751.62 -
新亚富丽华 14,350,000.00 31,156,022.06 - - 3,877,060.36 - - (5,740,000.00) - - 29,293,082.42 -
新鹿餐饮 2,719,227.00 2,335,466.77 - - (73,567.01) (2,261,899.76) - - - - - -
齐程网络 100,000,000.00 57,030,008.61 - - (2,560,278.21) - - - - - 54,469,730.40 -
合计 215,046,477.00 303,820,948.75 - - 64,223,485.48 (2,261,899.76) - (119,056,970.03) - - 246,725,564.44 -
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。
148
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
8、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
1.2017 年 12 月 31 日 63,212,256.15 88,556,416.65 1,488,519.51 18,998,263.91 172,255,456.22
2.本期增加金额
(1)购置 - 1,485,859.46 - - 1,485,859.46
(2)在建工程转入 - 6,207,412.86 - - 6,207,412.86
3.本期减少金额
(1)本期处置或报废 - (231,896.00) - - (231,896.00)
(2)竣工结算调整 - (41,367.10) - 91,093.21 49,726.11
4.2018 年 6 月 30 日 63,212,256.15 95,976,425.87 1,488,519.51 19,089,357.12 179,766,558.65
二、累计折旧
1.2017 年 12 月 31 日 21,523,808.58 38,778,764.86 1,351,011.26 15,623,860.45 77,277,445.15
2.本期增加金额-计提 1,228,142.40 5,975,748.83 3,834.33 1,364,290.74 8,572,016.30
3.本期减少金额-处置或报废 - (216,440.02) - - (216,440.02)
4.2018 年 6 月 30 日 22,751,950.98 44,538,073.67 1,354,845.59 16,988,151.19 85,633,021.43
三、减值准备
1.2017 年 12 月 31 日 - - - - -
2.本期增加金额 - - - - -
3.本期减少金额 - - - - -
4.2018 年 6 月 30 日 - - - - -
四、账面价值
1.2018 年 6 月 30 日 40,460,305.17 51,438,352.20 133,673.92 2,101,205.93 94,133,537.22
2.2017 年 12 月 31 日 41,688,447.57 49,777,651.79 137,508.25 3,374,403.46 94,978,011.07
9、在建工程
(1) 在建工程明细如下：
人民币元
2018 年 6 月 30 日 2017 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
Kyriad 上海共和新路酒店改造工程 21,037,535.80 - 21,037,535.80 13,812,529.41 - 13,812,529.41
"锦江都城"南华亭宾馆装修工程 - - - 45,582,159.82 - 45,582,159.82
"锦江都城"南京饭店装修工程 313,303.19 - 313,303.19 314,388.74 - 314,388.74
其他装修工程 3,959,190.36 - 3,959,190.36 450,177.02 - 450,177.02
合计 25,310,029.35 - 25,310,029.35 60,159,254.99 - 60,159,254.99
149
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
9、在建工程 - 续
(2) 重大在建工程项目变动情况
人民币元
2017 年 本期转入 本期转入 本期其他减少 2018 年 工程投入占 利息资本化 其中：本期利息 本期利息资
项目名称 预算数 本期增加 工程进度(%) 资金来源
12 月 31 日 固定资产 长期待摊费用 竣工结算调整 6 月 30 日 预算比例(%) 累计金额 资本化金额 本化率(%)
Kyriad 上海共和新路
21,250,000.00 13,812,529.41 7,225,006.39 - - - 21,037,535.80 99.00% 99.00% - - - 自筹拨款
酒店改造工程
“锦江都城”南华亭宾
46,002,906.00 45,582,159.82 - (5,085,978.80) (38,603,285.80) (1,892,895.22) - 100.00% 100.00% - - - 自筹拨款
馆装修工程
"锦江都城"南京饭店
50,000,000.00 314,388.74 643,916.45 (645,002.00) - - 313,303.19 99.51% 99.51% - - - 自筹拨款
装修工程
其他装修工程 450,177.02 3,985,445.40 (476,432.06) - - 3,959,190.36 - - - 自筹拨款
合计 60,159,254.99 11,854,368.24 (6,207,412.86) (38,603,285.80) (1,892,895.22) 25,310,029.35 - - -
150
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
10、无形资产
人民币元
项目 土地使用权 其他 合计
一、账面原值
1.2017 年 12 月 31 日 91,847,425.45 2,063,806.37 93,911,231.82
2.本期购置 - 64,871.79 64,871.79
3.本期在建工程转入 - - -
4.本期减少金额 - (63,333.33) (63,333.33)
5.2018 年 6 月 30 日 91,847,425.45 2,065,344.83 93,912,770.28
二、累计摊销
1.2017 年 12 月 31 日 39,474,634.54 1,980,383.33 41,455,017.87
2.本期增加金额-计提 1,171,202.88 23,737.92 1,194,940.80
3.本期减少金额 - (10,742.16) (10,742.16)
4.2018 年 6 月 30 日 40,645,837.42 1,993,379.09 42,639,216.51
三、减值准备
1.2017 年 12 月 31 日 - - -
2.本期增加金额 - - -
3.本期减少金额 - - -
4.2018 年 6 月 30 日 - - -
四、账面价值
1.2018 年 6 月 30 日 51,201,588.03 71,965.74 51,273,553.77
2.2017 年 12 月 31 日 52,372,790.91 83,423.04 52,456,213.95
11、长期待摊费用
人民币元
项目 2017 年 12 月 31 日 本期增加额(注) 本期摊销额 其他减少额(注) 2018 年 6 月 30 日
经营租入固定资产装修 63,384,196.38 10,199,672.39 (6,724,934.82) (10,786,399.44) 56,072,534.51
经营租入固定资产改良 137,550,785.41 28,403,613.41 (7,639,530.85) (334,413.56) 157,980,454.41
合计 200,934,981.79 38,603,285.80 (14,364,465.67) (11,120,813.00) 214,052,988.92
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 38,603,285.80 元。本年减少系竣工调整
减少人民币 11,120,813.00 元。
12、其他非流动资产
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
委托贷款(附注(十四)30(5)) 210,000,000.00 250,000,000.00
合计 210,000,000.00 250,000,000.00
151
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
13、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
2018 年 6 月 30 日 2017 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 16,555,610.00 4,138,902.50 19,390,825.98 4,847,706.50
资产减值准备 6,744,850.97 1,686,212.74 5,750,381.86 1,437,595.46
政府补助 4,125,000.00 1,031,250.00 4,455,550.00 1,113,887.50
预收会员卡及积分的递延收益 149,919.59 37,479.90 630,312.60 157,578.15
直线法租金调整 4,533,713.51 1,133,428.38 4,309,227.78 1,077,306.95
合计 32,109,094.07 8,027,273.52 34,536,298.22 8,634,074.56
(2) 未经抵销的递延所得税负债
人民币元
2018 年 6 月 30 日 2017 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
230,713,396.63 57,678,349.16 429,316,014.39 107,329,003.63
金融资产公允价值变动
合计 230,713,396.63 57,678,349.16 429,316,014.39 107,329,003.63
(3) 以抵销后净额列示的递延所得税资产或负债
人民币元
2018 年 6 月 30 日 2017 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 8,027,273.52 - 8,634,074.56 -
递延所得税负债 8,027,273.52 49,651,075.64 8,634,074.56 98,694,929.07
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 2018 年 6 月 30 日 2017 年 12 月 31 日
可抵扣亏损(注) 174,090,121.10 146,615,681.12
合计 174,090,121.10 146,615,681.12
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 2018 年 6 月 30 日 2017 年 12 月 31 日
2022 年 139,007,766.70 146,615,681.12
2023 年 35,082,354.40 -
合计 174,090,121.10 146,615,681.12
152
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
14、资产减值准备明细
人民币元
2017 年 本期减少 2018 年
项目 本期增加
12 月 31 日 转回 转销 6 月 30 日
一、坏账准备 750,381.86 1,004,433.12 (9,964.01) - 1,744,850.97
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 2,801,681.86 1,004,433.12 (9,964.01) - 3,796,150.97
15、短期借款
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
信用借款 - 1,000,000,000.00
合计 - 1,000,000,000.00
16、应付职工薪酬
(1) 应付职工薪酬列示
人民币元
2017 年 2018 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
1、短期薪酬 15,908,840.52 47,894,375.32 (50,540,952.73) 13,262,263.11
2、离职后福利-设定提存计划 150,971.06 6,501,898.44 (6,497,481.44) 155,388.06
3、辞退福利 11,047,176.35 803,557.90 (3,638,773.88) 8,211,960.37
合计 27,106,987.93 55,199,831.66 (60,677,208.05) 21,629,611.54
(2) 短期薪酬列示
人民币元
2017 年 2018 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 15,253,439.09 39,342,926.08 (42,155,469.20) 12,440,895.97
2、职工福利费 - 2,555,747.44 (2,555,747.44) -
3、社会保险费 16,744.69 2,866,900.50 (2,866,485.50) 17,159.69
其中：医疗保险费 16,102.08 2,517,019.31 (2,516,604.31) 16,517.08
工伤保险费 (32,255.23) 85,036.21 (85,036.21) (32,255.23)
生育保险费 32,897.84 264,844.98 (264,844.98) 32,897.84
4、住房公积金 20,314.00 2,342,504.00 (2,342,504.00) 20,314.00
5、工会经费和职工教育经费 618,342.74 786,297.30 (620,746.59) 783,893.45
合计 15,908,840.52 47,894,375.32 (50,540,952.73) 13,262,263.11
153
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
16、应付职工薪酬 - 续
(3) 设定提存计划
人民币元
2017 年 2018 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 146,155.18 6,369,868.05 (6,365,451.05) 150,572.18
2、失业保险费 4,815.88 132,030.39 (132,030.39) 4,815.88
合计 150,971.06 6,501,898.44 (6,497,481.44) 155,388.06
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 2018 年 1 月 1 日至 2018 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
6,369,868.05 元及人民币 132,030.39 元(2017 年 1 月 1 日至 2017 年 6 月 30 日止期间：人民币 6,006,989.62
元及人民币 227,540.94 元)。于 2018 年 6 月 30 日，本公司尚有人民币 150,572.18 元及人民币 4,815.88 元
(2017 年 12 月 31 日：人民币 146,155.18 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。
17、应交税费
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
增值税 745,937.26 5,221,587.10
企业所得税 3,227,217.60 3,169,679.34
个人所得税 70,369.81 347,505.11
房产税 (57,972.40) 72,731.96
其他 308,668.34 136,281.67
合计 4,294,220.61 8,947,785.18
18、其他应付款
其他应付款项目 2018 年 6 月 30 日 2017 年 12 月 31 日
其他应付款 305,633,496.91 161,082,964.79
应交股利 502,414.89 463,047.45
应付利息 20,014,618.30 21,759,008.32
合计 326,150,530.10 183,305,020.56
154
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
18、其他应付款 - 续
(1) 其他应付款明细如下：
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
Keystone 少数股东股权收购款 110,500,326.34 -
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 83,387,566.68 51,155,038.95
预提股权收购项目中介机构费用 4,058,829.10 6,669,598.62
预提费用 8,185,713.20 8,644,290.02
代垫款 5,950,819.27 4,029,927.71
其他 34,926,794.03 31,960,661.20
合计 305,633,496.91 161,082,964.79
(2) 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。
(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。
19、长期借款
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
质押借款(注 1) 4,659,000,000.00 4,759,000,000.00
信用借款(注 2) 1,000,000,000.00 3,000,000,000.00
信用借款--其他金融机构 495,000,000.00 200,000,000.00
合计 6,154,000,000.00 7,959,000,000.00
减：一年内到期的长期借款 335,000,000.00 220,000,000.00
一年后到期的长期借款 5,819,000,000.00 7,739,000,000.00
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 4,659,000,000.00 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 3.60%。
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、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 400,000,000.00 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 3.915%。
155
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
20、其他非流动负债
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
政府补助 4,125,000.00 4,455,550.00
减：一年内到期的其他非流动负债 695,200.00 695,200.00
一年后到期的其他非流动负债 3,429,800.00 3,760,350.00
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 4,455,550.00 - 330,550.00 4,125,000.00 与资产相关
合计 4,455,550.00 - 330,550.00 4,125,000.00
21、资本公积
人民币元
2017 年 2018 年
项目 本期增加 本期减少
12 月 31 日 6 月 30 日
资本溢价 9,085,391,183.30 - - 9,085,391,183.30
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 1,299,629,155.23 - - 1,299,629,155.23
其他资本公积 104,054,896.12 - - 104,054,896.12
其中：原制度资本公积转入 138,656,064.50 - - 138,656,064.50
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 9,189,446,079.42 - - 9,189,446,079.42
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 9,085,391,183.30 9,085,391,183.30
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 1,299,629,155.23 1,299,629,155.23
其他资本公积 138,656,064.50 - (34,601,168.38) 104,054,896.12
其中：原制度资本公积转入 138,656,064.50 - - 138,656,064.50
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 9,224,047,247.80 - (34,601,168.38) 9,189,446,079.42
22、其他综合收益
人民币元
本期发生额
2017 年 减：前期计入 2018 年
项目 本期所得税前发 减： 税后归属于母公
12 月 31 日 其他综合收益 6 月 30 日
生额 所得税费用 司所有者
当期转入损益
以后将重分类进损益的其他综合收益 324,128,412.57 (121,226,522.41) 77,376,095.35 (49,650,654.44) (148,951,963.32) 175,176,449.25
其中：可供出售金融资产公允价值变
321,987,010.74 (121,226,522.41) 77,376,095.35 (49,650,654.44) (148,951,963.32) 173,035,047.42
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 2,141,401.83 - - - - 2,141,401.83
中享有的份额
合计 324,128,412.57 (121,226,522.41) 77,376,095.35 (49,650,654.44) (148,951,963.32) 175,176,449.25
156
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
23、营业收入、营业成本
(1) 营业收入、营业成本
人民币元
2018 年 1 月 1 日至 2018 年 6 月 30 日 2017 年 1 月 1 日至 2017 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 140,451,336.58 18,213,798.99 115,948,040.50 14,713,938.82
其他业务 1,984,154.09 - 997,683.42 571,428.60
合计 142,435,490.67 18,213,798.99 116,945,723.92 15,285,367.42
(2) 主营业务(分行业)
人民币元
2018 年 1 月 1 日至 2018 年 6 月 30 日 2017 年 1 月 1 日至 2017 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 116,716,782.06 - 96,191,069.01 -
餐饮 10,439,165.92 9,782,279.69 8,747,652.96 7,138,220.99
商品销售 7,392,904.72 7,164,222.98 6,966,564.88 6,617,634.72
其他 5,902,483.88 1,267,296.32 4,042,753.65 958,083.11
合计 140,451,336.58 18,213,798.99 115,948,040.50 14,713,938.82
(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(%)
荣哥餐饮(上海)有限公司 1,341,146.28 0.94
上海杨浦唐宫海鲜舫有限公司 938,289.30 0.66
上海晶英汇餐饮有限公司 532,608.60 0.37
中国移动上海分公司 147,207.00 0.10
上海振南工程咨询监理有限责任公司 114,285.72 0.08
合计 3,073,536.90 2.15
157
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
(十四) 公司财务报表主要项目注释 - 续
24、按性质分类的成本与费用
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
商品成本 17,331,097.20 14,713,938.82
职工薪酬 55,199,831.66 66,199,193.74
其中：工资和薪金 38,879,946.68 51,460,403.47
社会保险费 9,368,798.94 9,039,957.72
住房公积金 2,342,504.00 2,245,964.00
福利费 2,555,747.44 2,391,678.14
其他费用 2,052,834.60 1,061,190.41
能源及物料消耗 13,028,995.09 9,759,193.53
折旧与摊销 24,131,422.77 22,041,949.47
经营租赁费用 15,387,531.83 14,160,994.58
维修和维护费 1,636,510.98 1,572,950.17
中介机构费用 5,706,059.16 8,061,669.10
广告费 3,821,455.95 3,413,656.18
其他 28,003,783.52 24,822,703.77
营业成本、销售费用及管理费用合计 164,246,688.16 164,746,249.36
25、财务费用
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
利息支出 164,325,688.60 200,037,584.35
减﹕利息收入 67,923,517.62 110,022,324.63
汇兑差额 5,081,043.67 10,019,349.47
其他 436,879.80 925,112.15
合计 101,920,094.45 100,959,721.34
26、其他收益
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
与资产相关
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
/与收益相关
止期间 止期间
财政扶持基金 11,861,000.00 - 与收益相关
新城饭店项目扶持基金 330,550.00 342,650.00 与资产相关
合计 12,191,550.00 342,650.00
158
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
(1) 投资收益明细情况
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 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 64,223,485.48 52,153,017.11
成本法核算的长期股权投资收益 191,900,000.00 177,720,000.00
持有可供出售金融资产期间取得的投资收益 82,558,235.37 71,095,362.61
处置可供出售金融资产取得的投资收益 77,376,095.35 86,659,256.47
其他 4,079,309.40 5,353,705.03
合计 420,137,125.60 392,981,341.22
(2) 按权益法核算的长期股权投资收益(损失)
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
被投资单位 2018 年 6 月 30 日 2017 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 62,980,270.33 56,616,425.56 因营业收入增加，本期盈利高于上期
新亚富丽华 3,877,060.36 3,699,099.74 因营业收入增加，本期盈利高于上期
新鹿餐饮 (73,567.00) 133,721.14 因营业收入下降，本年盈利低于上期
齐程网络 (2,560,278.21) (8,296,229.33) 因营业收入增加，本期亏损低于上期
合计 64,223,485.48 52,153,017.11
(3) 按成本法核算的长期股权投资收益
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
被投资单位 2018 年 6 月 30 日 2017 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 150,000,000.00 130,000,000.00 因费用下降，本期盈利高于上期
卢浮亚洲 41,000,000.00 47,000,000.00 因费用上升，本期盈利低于上期
锦江食品 900,000.00 720,000.00 因营业收入增加，本期盈利高于上期
合计 191,900,000.00 177,720,000.00
(4) 持有可供出售金融资产期间取得的投资收益
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
被投资单位 2018 年 6 月 30 日 2017 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 45,927,333.18 38,964,078.50 宣告发放股利有所增加
长江证券股份有限公司 6,000,000.00 7,950,000.00 所持股数减少
苏州肯德基有限公司 20,399,349.80 15,461,142.53 宣告发放股利有所增加
无锡肯德基有限公司 9,168,683.11 7,125,239.26 宣告发放股利有所增加
申万宏源证券股份有限公司 748,478.20 1,496,956.40 宣告发放股利有所减少
其他 314,391.08 97,945.92
合计 82,558,235.37 71,095,362.61
159
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
(5) 处置可供出售金融资产取得的投资收益
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
可供出售金融资产名称 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
长江证券(股票代码：000783) 77,376,095.35 86,659,256.47
注：于本财务报告期内，本公司出售长江证券股票共计 13,000,000 股。
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
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 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 2,262,561.98 6,353,619.89
(2) 收到其他与筹资活动有关的现金
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 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
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
160
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
(1) 现金流量表补充资料
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
补充资料 2018 年 6 月 30 日 2017 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 305,401,986.44 243,619,780.24
加：计提资产减值准备 994,469.11 36,320.87
固定资产折旧 8,572,016.30 7,879,467.43
无形资产摊销 1,194,940.80 1,179,886.57
长期待摊费用摊销 14,364,465.67 12,982,595.47
处置固定资产、无形资产和其他长期资产的损失 21,515.98 778.30
财务费用 164,325,688.60 116,370,240.43
投资损失(收益) (420,137,125.60) (392,981,341.22)
递延所得税资产减少(增加) 606,801.01 627,447.90
存货的减少(增加) (7,843.50) (402,627.56)
经营性应收项目的减少(增加) 398,836,257.54 37,106,498.13
经营性应付项目的增加(减少) 22,509,178.70 29,129,477.34
经营活动产生的现金流量净额 496,682,351.05 55,548,523.90
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：
现金的期末余额 1,164,502,942.97 1,352,008,610.07
减：现金的期初余额 4,948,403,936.97 2,827,562,677.11
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 (3,783,900,994.00) (1,475,554,067.04)
(2) 现金和现金等价物的构成
人民币元
项目 2018 年 6 月 30 日 2017 年 12 月 31 日
一、现金 1,164,502,942.97 4,948,403,936.97
其中：库存现金 253,465.44 442,827.96
可随时用于支付的银行存款 1,164,249,477.53 4,947,961,109.01
二、现金等价物 - -
三、期末现金及现金等价物余额 1,164,502,942.97 4,948,403,936.97
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)。
161
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
(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
2018 年 1 月 1 日至 2017 年 1 月 1 日至
关联方 关联交易内容 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
锦江之星 采购物品 2,604,146.60 1,383,801.16
上海锦江国际酒店物品有限公司 采购酒店物品 6,941.93 5,987.60
小计 2,611,088.53 1,389,788.76
(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 共和新路店销售店铺 190,476.18 731,016.73
闵行饭店 房屋租赁 457,142.88 457,142.88
小计 647,619.06 1,188,159.61
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
南华亭酒店(注) 经营区域 4,070,080.86 4,070,080.86
白玉兰宾馆(注) 经营区域 4,229,649.60 4,229,649.60
锦江国际 办公区域及经营区域 1,596,411.48 1,317,062.85
上海锦江国际投资管理有限公司 办公区域 642,765.72 642,765.72
上海东锦江大酒店有限公司 办公区域 - 5,811.72
上海锦江物业管理公司 办公区域 78,765.71 78,765.71
小计 10,617,673.37 10,344,136.46
注：有关本公司与南华亭酒店及白玉兰宾馆的租赁的详情参见附注(十)5(3)。
(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)。
162
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
本财务报告期间发生额及于 2018 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 10,000,000.00 2017 年 12 月 27 日 2018 年 12 月 15 日 信用借款
财务公司 10,000,000.00 2017 年 12 月 27 日 2019 年 6 月 15 日 信用借款
财务公司 10,000,000.00 2017 年 12 月 27 日 2019 年 12 月 15 日 信用借款
财务公司 10,000,000.00 2017 年 12 月 27 日 2020 年 6 月 15 日 信用借款
财务公司 60,000,000.00 2017 年 12 月 27 日 2020 年 12 月 26 日 信用借款
财务公司 5,000,000.00 2018 年 1 月 5 日 2018 年 12 月 15 日 信用借款
财务公司 10,000,000.00 2018 年 1 月 5 日 2019 年 6 月 15 日 信用借款
财务公司 10,000,000.00 2018 年 1 月 5 日 2019 年 12 月 15 日 信用借款
财务公司 10,000,000.00 2018 年 1 月 5 日 2020 年 6 月 15 日 信用借款
财务公司 360,000,000.00 2018 年 1 月 5 日 2020 年 12 月 15 日 信用贷款
小计 495,000,000.00
人民币元
关联方 拆借金额 起始日 到期日 说明
拆出
时尚之旅 210,000,000.00 2016 年 8 月 11 日 2019 年 8 月 10 日 委托贷款
小计 210,000,000.00
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
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
利息支出 11,688,620.40 13,030,499.99
利息收入 1,587,314.33 3,770,337.83
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 2018 年 6 月 30 日 2017 年 12 月 31 日
期末存款余额 624,220,295.49 160,033,477.59
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
财务公司 2018 年 6 月 30 日 2017 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 2,319,972,156.59 2,381,971,305.77
期内累计从财务公司取出的存款资金 1,855,785,338.69 2,381,758,146.83
163
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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
(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为下属子公司 Keystone 的长期借款余额人民币 1,160,000,000.00 元提供信用担
保。
(8) 关联方应收应付项目
i) 应收项目
人民币元
项目名称 关联方 2018 年 6 月 30 日 2017 年 12 月 31 日
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 3,375,034.96 - 4,477,005.50 -
锦江酒店集团及其下属
应收账款 - - 11,950.00 -
企业
应收账款 锦亚餐饮 799,999.90 - 601,400.17 -
应收账款 新亚食品 - - 31,034.09 -
小计 4,175,034.86 - 5,121,389.76 -
其他应收款 锦江国际及其下属企业 31,105.70 - - -
锦江酒店集团及其下属
其他应收款 13,427.11 - 13,427.11 -
企业
其他应收款 锦江之星 10,356,048.64 - 4,585,402.93 -
其他应收款 旅馆投资 1,014,827.83 - 826,711.83 -
其他应收款 达华宾馆 42,060,509.29 - 47,960,509.29 -
其他应收款 闵行饭店 20,215,458.58 - 25,226,432.78 -
其他应收款 锦盘酒店 - - 1,369,807.71 -
其他应收款 卢浮亚洲 9,209,355.82 - 9,478,748.77 -
其他应收款 餐饮投资 29,088.33 - 29,088.33 -
其他应收款 锦亚餐饮 2,900,000.00 - 2,900,000.00 -
其他应收款 新亚食品 21,876.70 - 21,876.70 -
其他应收款 成套设备 4,472,035.67 - 4,070,230.09 -
其他应收款 锦卢投资 4,090,330.49 - 4,090,330.49 -
小计 94,414,064.16 - 100,572,566.03 -
应收利息 时尚之旅 214,669.00 - 290,280.84 -
小计 214,669.00 - 290,280.84 -
其他非流动资产 时尚之旅 210,000,000.00 - 250,000,000.00 -
小计 210,000,000.00 - 250,000,000.00 -
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 -
164
上海锦江国际酒店发展股份有限公司
财务报表附注
2018 年 1 月 1 日至 2018 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 2018 年 6 月 30 日 2017 年 12 月 31 日
应付账款 锦江国际及其下属企业 5,275,220.39 3,213,982.44
应付账款 锦江酒店集团及其下属企业 9,989.07 16,369.07
应付账款 锦江之星 - 389,636.00
小计 5,285,209.46 3,619,987.51
其他应付款 锦江国际及其下属企业 1,631,164.79 1,269,747.13
其他应付款 锦江酒店集团及其下属企业 2,662,143.93 2,297,737.13
其他应付款 上海锦江国际酒店物品有限公司 - 3,057.39
其他应付款 上海锦江旅游有限公司 - 8,400.00
其他应付款 青年会大酒店 463,910.43 442,344.64
其他应付款 白玉兰宾馆 29,208.00 29,208.00
其他应付款 锦江之星 76,434,422.53 45,146,926.33
其他应付款 旅馆投资 6,953,144.15 6,008,112.62
其他应付款 闵行饭店 19,025.80 19,025.80
其他应付款 达华宾馆 212,994.99 212,994.99
其他应付款 卢浮亚洲 1,176,850.05 509,770.26
其他应付款 成套设备 - 192,935.63
小计 89,582,864.67 56,140,259.92
应付利息 财务公司 555,159.00 112,153.33
小计 555,159.00 112,153.33
***财务报表结束***
165
上海锦江国际酒店发展股份有限公司
补充资料
2018 年 1 月 1 日至 2018 年 6 月 30 日止期间
1、当期非经常性损益明细表
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日 2017 年 6 月 30 日
止期间 止期间
非流动资产处置收益(损失) 76,005,404.64 939,609.33
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，
36,031,789.25 18,100,017.83
按照国家统一标准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
的公允价值变动损益，处置以公允价值计量且其变动计入当期 77,332,976.60 86,659,256.47
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
56,685,131.22 111,688,518.33
一次性调整对当期损益的影响
受托经营取得的托管费收入 - -
除上述各项之外的其他营业外收入和支出 10,777,647.83 2,314,022.83
子公司、合营公司处置收益 9,095,353.40 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 (53,694,307.43) (37,613,303.06)
少数股东权益影响额(税后) (24,412,323.92) (2,604,202.08)
合计 187,821,671.59 212,991,686.36
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。
166
上海锦江国际酒店发展股份有限公司
补充资料
2018 年 1 月 1 日至 2018 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 4.03 12,481,330,765.83 0.5255 不适用
扣除非经常性损益后归属于公司普通股股东的
2.53 12,481,330,765.83 0.3294 不适用
净利润
注：本公司并不存在稀释性潜在普通股。
167
上海锦江国际酒店发展股份有限公司
补充资料
2018 年 1 月 1 日至 2018 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 2018 年 6 月 30 日与 2017 年 12 月 31 日的资产负
债变动状况、2018 年 1 月 1 日至 2018 年 6 月 30 日止期间和 2017 年 1 月 1 日至 2017 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 2018 年 6 月 30 日 2017 年 12 月 31 日 项目 2018 年 6 月 30 日 2017 年 12 月 31 日
流动资产： 流动负债：
货币资金 5,403,045,383.63 4,977,628,403.46 短期借款 14,935,102.87 5,333,514.18
衍生金融资产 - - 衍生金融负债 3,564,106.96 4,391,173.45
应收票据及应收账款 1,046,880,759.91 941,518,719.45 应付票据及应付账款 1,974,577,292.09 2,082,677,261.23
预付款项 293,361,355.13 326,466,412.54 预收款项 940,749,227.83 866,670,626.45
其他应收款 530,113,163.21 552,433,615.04 应付职工薪酬 870,227,177.93 899,988,231.51
存货 77,914,803.00 71,154,202.07 应交税费 404,888,688.30 398,843,082.67
持有待售资产 - 9,194,045.82 其他应付款 1,642,631,275.10 1,399,110,211.21
一年内到期的非流动
其他流动资产 345,624,325.57 269,555,418.68 280,431,418.95 48,245,433.89
负债
流动资产合计 7,696,939,790.45 7,147,950,817.06 流动负债合计 6,132,004,290.03 5,705,259,534.59
非流动资产： 非流动负债：
可供出售金融资产 766,668,954.48 575,026,046.69 长期借款 10,960,022,893.81 11,476,266,220.93
长期股权投资 112,597,232.15 119,150,426.68 长期应付款 265,824,599.39 255,256,905.93
固定资产 6,475,886,931.87 6,704,916,504.23 长期应付职工薪酬 64,870,080.23 59,112,683.77
在建工程 715,603,431.97 679,151,417.17 预计负债 56,301,477.80 58,598,004.21
无形资产 7,325,995,164.19 7,462,154,720.62 递延所得税负债 2,246,339,549.57 2,335,777,084.57
商誉 11,301,268,832.00 11,348,072,548.12 其他非流动负债 149,356,334.47 201,184,640.33
长期待摊费用 2,556,736,235.41 2,693,801,981.00 非流动负债合计 13,742,714,935.27 14,386,195,539.74
递延所得税资产 594,109,098.41 615,109,920.55 负债合计 19,874,719,225.30 20,091,455,074.33
其他非流动资产 89,732,567.30 90,227,114.10 股东权益：
股本 3,166,586,811.68 3,166,586,811.68
资本公积 4,011,763,808.50 4,011,763,808.50
其他综合收益 (232,519,614.68) (344,337,782.14)
盈余公积 144,308,472.30 144,308,472.30
未分配利润 4,067,026,131.18 3,866,206,607.46
母公司拨款 5,902,008,576.65 5,872,157,887.91
归属于有限服务型
酒店业务分部 17,059,174,185.63 16,716,685,805.71
所有者权益合计
少数股东权益 701,644,827.30 627,420,616.18
非流动资产合计 29,938,598,447.78 30,287,610,679.16 股东权益合计 17,760,819,012.93 17,344,106,421.89
资产总计 37,635,538,238.23 37,435,561,496.22 负债和股东权益总计 37,635,538,238.23 37,435,561,496.22
168
上海锦江国际酒店发展股份有限公司
补充资料
2018 年 1 月 1 日至 2018 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
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目
2018 年 6 月 30 日止期间 2017 年 6 月 30 日止期间
一、营业总收入
自有和租赁酒店 4,331,934,606.21 4,264,641,576.65
加盟和管理酒店 2,461,101,028.13 1,863,148,153.53
其他 32,684,145.61 36,676,996.49
营业收入总额 6,825,719,779.95 6,164,466,726.67
减：税金及附加 110,933,692.13 106,316,874.41
营业收入净额 6,714,786,087.82 6,058,149,852.26
营业成本和费用：
自有和租赁酒店成本
租金 933,334,424.45 910,716,713.20
能源 332,665,958.71 299,107,063.39
人工成本 1,505,766,147.51 1,399,775,323.83
加盟和管理酒店其他营运成本 450,754,294.63 298,145,224.93
折旧及摊销 598,092,538.44 706,369,662.61
物耗、食品和饮料 323,230,587.07 326,248,635.36
其他 559,557,239.32 750,742,190.91
酒店营运成本合计 4,703,401,190.13 4,691,104,814.23
销售和市场费用 430,726,171.09 332,647,475.09
一般行政管理费用 992,471,058.48 586,816,449.64
开办费 3,052,661.15 7,380,847.51
全部营业成本和费用合计 6,129,651,080.85 5,617,949,586.47
二、来自营业的利润 585,135,006.97 440,200,265.79
投资收益 12,170,957.37 51,929,498.59
利息收入 29,682,073.46 10,269,901.35
利息支出 98,886,713.23 110,451,181.55
其他非营业收入 131,398,815.79 37,794,035.15
其他非营业支出 33,056,371.88 26,599,200.48
汇兑收益(损失) (1,756,748.97) (6,258,956.31)
三、利润总额 624,687,019.51 396,884,362.54
所得税费用 162,656,765.35 17,367,822.62
四、净利润 462,030,254.16 379,516,539.92
减：少数股东收益 69,632,807.75 38,704,240.75
归属于有限服务型酒店业务分部的净利润 392,397,446.41 340,812,299.17
五、其他综合收益(损失)的税后净额 117,558,808.62 61,033,922.83
归属母公司所有者的其他综合收益(损失)的税后净额 111,818,167.46 51,375,435.01
(一)以后将重分类进损益的的其他综合收益(损失) 111,818,167.46 51,375,435.01
1.权益法下在被投资单位以后将重分类进损益的
126,458.24 186,422.60
其他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 152,136,787.32 -
3.现金流量套期损益的有效部分 459,580.04 829,597.00
4.外币财务报表折算差额 (40,904,658.14) 50,359,415.41
归属少数股东的的其他综合收益(损失)的税后净额 5,740,641.16 9,658,487.82
六、综合收益(损失)总额 579,589,062.78 440,550,462.75
归属母公司所有者的综合收益(损失)总额 504,215,613.87 392,187,734.18
归属少数股东的的综合收益(损失)总额 75,373,448.91 48,362,728.57
169
上海锦江国际酒店发展股份有限公司
补充资料
2018 年 1 月 1 日至 2018 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
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目
2018 年 6 月 30 日止期间 2017 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 7,208,614,495.98 6,310,052,342.85
收到的税费返还 - 4,473,060.00
收到其他与经营活动有关的现金 162,148,779.16 142,436,051.50
经营活动现金流入小计 7,370,763,275.14 6,456,961,454.35
购买商品、接受劳务支付的现金 2,113,937,535.74 1,345,924,096.37
支付给职工以及为职工支付的现金 2,216,937,035.62 1,891,377,202.95
支付的各项税费 517,578,053.18 422,627,680.43
支付其他与经营活动有关的现金 1,495,879,766.25 1,434,535,861.36
经营活动现金流出小计 6,344,332,390.79 5,094,464,841.11
经营活动产生的现金流量净额 1,026,430,884.35 1,362,496,613.24
二、投资活动产生的现金流量：
收回投资收到的现金 3,750,981.70 61,993,884.56
取得投资收益收到的现金 131,917.67 2,699,406.95
处置固定资产、无形资产和其他长期资产收
21,918,248.03 10,391,618.59
回的现金净额
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 25,801,147.40 120,810,811.30
购买子公司和其他经营单位支付的现金 12,696,646.76 243,782,874.09
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
407,427,845.20 477,916,946.72
支付的现金
投资所支付的现金 1,150,002.00
支付其他与投资活动有关的现金
投资活动现金流出小计 420,124,491.96 723,539,102.12
投资活动产生的现金流量净额 (394,323,344.56) (602,728,290.82)
三、筹资活动产生的现金流量：
吸收投资收到的现金 -
其中：子公司吸收少数股东投资收到的现金 -
取得借款收到的现金 9,729,371.16 4,663,431,860.49
收到其他与筹资活动有关的现金 41,442,115.09 40,146,122.08
筹资活动现金流入小计 51,171,486.25 4,703,577,982.57
偿还债务支付的现金 82,304,260.20 4,977,456,566.03
分配股利、利润或偿付利息支付的现金 136,665,279.15 143,246,630.61
其中：子公司支付给少数股东的股利、利润 1,123,258.62 1,425,231.93
支付其他与筹资活动有关的现金 22,263,804.61 61,533,494.72
筹资活动现金流出小计 241,233,343.96 5,182,236,691.36
筹资活动产生的现金流量净额 (190,061,857.71) (478,658,708.79)
四、汇率变动对现金及现金等价物的影响 (13,555,355.97) 50,489,914.91
五、现金及现金等价物净增加(减少)额 428,490,326.11 331,599,528.54
加：期初现金及现金等价物余额 4,974,555,057.52 3,564,047,289.77
六、期末现金及现金等价物余额 5,403,045,383.63 3,895,646,818.31
170
上海锦江国际酒店发展股份有限公司
补充资料
2018 年 1 月 1 日至 2018 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
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目
2018 年 6 月 30 日止期间 2017 年 6 月 30 日止期间
归属于有限服务型酒店分部的净利润 392,397,446.41 340,812,299.17
利息收入 29,682,073.46 10,269,901.35
利息费用 98,886,713.23 110,451,181.55
所得税费用 162,656,765.35 17,367,822.62
折旧 304,877,876.00 363,075,486.52
摊销 381,851,955.11 402,802,360.19
息税折旧摊销前的利润(EBITDA) 1,310,988,682.64 1,224,239,248.70
息税折旧摊销前的利润占营业收入的比重(%) 19.21 19.86
汇兑损益 1,756,748.97 6,258,956.31
开办费 3,052,661.15 7,380,847.51
调整后息税折旧摊销前的利润(EBITDA) 1,315,798,092.75 1,237,879,052.52
调整后息税折旧摊销前的利润占营业收入的比重(%) 19.28 20.08
有限服务型酒店业务分部成本费用表
人民币元
2018 年 1 月 1 日至 2017 年 1 月 1 日至
项目 2018 年 6 月 30 日止期间 2017 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 6,825,719,779.95 100.00 6,164,466,726.67 100.00
酒店营业成本 4,703,401,190.13 68.91 4,691,104,814.23 76.10
销售和市场费用 430,726,171.09 6.31 332,647,475.09 5.40
一般行政管理费用 992,471,058.48 14.54 586,816,449.64 9.52
开办费 3,052,661.15 0.04 7,380,847.51 0.12
全部营业成本和费用 6,129,651,080.85 89.80 5,617,949,586.47 91.13
171
上海锦江国际酒店发展股份有限公司
补充资料
2018 年 1 月 1 日至 2018 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
境内、境外开业的中端酒店和经济型酒店分品牌客房运营表(上半年)
2018 年上半年 截至 2018 年 6 月 30 日
品牌
净开业家数 开业家数
1、中端酒店 321 1,985
其中：锦江都城 9 71
麗枫 62 339
喆啡 25 118
希岸 16 103
维也纳国际 51 134
维也纳智好 8 165
维也纳酒店 104 531
维也纳 3 好 29 109
Golden Tulip 系列 -17 293
其他 34 122
2、经济型酒店 20 5,050
其中：锦江之星 19 1,094
七天系列 -55 2,413
IU 20 189
派 29 281
Première Classe 1 268
Campanile 4 384
Kyriad 系列 2 263
Sarovar 管理 -2 75
其他 2 83
合 计 341 7,035
172
上海锦江国际酒店发展股份有限公司
补充资料
2018 年 1 月 1 日至 2018 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
境内有限服务型酒店客房运营表(上半年)
截止至 2017 年 6 月 30 日 截止至 2018 年 3 月 31 日 截止至 2018 年 6 月 30 日
开业酒店数量(家)
自有和租赁酒店 791 759 739
加盟和管理酒店 4,227 4,812 5,007
全部开业酒店 5,018 5,571 5,746
开业酒店全部客房数量(间)
自有和租赁酒店 99,087 96,003 94,245
加盟和管理酒店 403,570 464,259 485,080
全部开业酒店 502,657 560,262 579,325
全部签约酒店数量(家)
自有和租赁酒店 840 779 760
加盟和管理酒店 6,392 7,499 8,002
全部签约酒店 7,232 8,278 8,762
全部签约酒店客房数量(间)
自有和租赁酒店 106,546 99,402 97,520
加盟和管理酒店 628,346 748,422 805,953
全部签约酒店 734,892 847,824 903,473
2017 年第二季度 2018 年第一季度 2018 年第二季度
客房出租率(%)
自有和租赁酒店 82.87 73.69 79.11
加盟和管理酒店 82.83 75.05 79.67
全部开业酒店 82.84 74.79 79.58
平均房价(人民币元/间)
自有和租赁酒店 187.00 189.90 204.13
加盟和管理酒店 179.94 190.09 199.87
全部开业酒店 181.40 190.06 200.59
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 154.97 139.94 161.49
加盟和管理酒店 149.04 142.66 159.24
全部开业酒店 150.27 142.15 159.63
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上海锦江国际酒店发展股份有限公司
补充资料
2018 年 1 月 1 日至 2018 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
2018 年 1 至 6 月份境内主要酒店品牌的 RevPAR 及其与上年同期比较
平均房价 平均出租率 RevPAR
(元/间) (%) (元/间)
中国境内品牌 同比
2018 年 2017 年 2018 年 2017 年 2018 年 2017 年
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(%)
中端酒店 259.95 245.97 80.78 83.68 209.99 205.83 2.02
其中：锦江都城 319.62 318.48 66.69 67.50 213.15 214.97 -0.85
麗枫 268.44 259.30 79.98 80.94 214.70 209.88 2.30
喆啡 259.58 226.05 78.31 72.19 203.28 163.19 24.57
希岸 244.63 236.55 80.29 78.45 196.41 185.57 5.84
维也纳国际 322.64 316.73 90.39 99.88 291.63 316.35 -7.81
维也纳智好 235.11 218.21 82.97 86.74 195.07 189.28 3.06
维也纳酒店 241.10 223.56 83.33 84.83 200.91 189.65 5.94
维也纳 3 好 213.02 207.29 81.23 87.43 173.04 181.23 -4.52
经济型酒店 158.87 152.92 75.36 78.07 119.72 119.38 0.28
其中：锦江之星 184.93 180.50 76.57 76.54 141.60 138.15 2.49
七天系列 143.64 138.31 74.92 79.22 107.62 109.57 -1.78
IU 170.18 162.81 80.22 83.71 136.52 136.29 0.17
派 133.45 130.21 69.80 74.00 93.15 96.36 -3.33
平 均 195.62 177.71 77.24 79.49 151.10 141.26 6.97
境内截至 2018 年 6 月 30 日开业满 18 个月以上酒店 RevPAR 与上年同期比较
开业满 18 月以上的酒店数量(家)
中端酒店 745
其中：直营酒店 74
加盟酒店 671
经济型酒店 3,468
其中：直营酒店 642
加盟酒店 2,826
合 计 4,213
174
上海锦江国际酒店发展股份有限公司
补充资料
2018 年 1 月 1 日至 2018 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
境内截至 2018 年 6 月 30 日开业满 18 个月以上酒店 RevPAR 与上年同期比较 - 续
开业满 18 个月以上酒店
同比增减(%)
2018 年 1-6 月 2017 年 1-6 月
中端酒店
平均出租率(%) 84.90 85.97 -1.07
其中：直营酒店 86.18 88.33 -2.15
加盟酒店 84.68 85.53 -0.85
平均房价(元/间) 269.44 249.81 7.86
其中：直营酒店 303.71 282.26 7.60
加盟酒店 263.20 243.65 8.02
RevPAR(元/间) 228.76 214.76 6.52
其中：直营酒店 261.74 249.32 4.98
加盟酒店 222.88 208.39 6.95
经济型酒店
平均出租率(%) 76.77 79.05 -2.28
其中：直营酒店 75.34 77.00 -1.66
加盟酒店 77.21 79.68 -2.47
平均房价(元/间) 159.66 153.29 4.16
其中：直营酒店 168.00 160.42 4.73
加盟酒店 157.14 151.18 3.94
RevPAR(元/间) 122.57 121.18 1.15
其中：直营酒店 126.57 123.52 2.47
加盟酒店 121.33 120.46 0.72
合 计
平均出租率(%) 78.76 80.71 -1.95
其中：直营酒店 77.21 78.96 -1.75
加盟酒店 79.19 81.19 -2.00
平均房价(元/间) 188.60 177.99 5.96
其中：直营酒店 194.08 184.01 5.47
加盟酒店 187.13 176.38 6.09
RevPAR(元/间) 148.54 143.66 3.40
其中：直营酒店 149.85 145.29 3.14
加盟酒店 148.19 143.20 3.48
175
上海锦江国际酒店发展股份有限公司
补充资料
2018 年 1 月 1 日至 2018 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
境外有限服务型酒店客房运营表(上半年)
截止至 2017 年 6 月 30 日 截止至 2018 年 3 月 31 日 截止至 2018 年 6 月 30 日
开业酒店数量(家)
自有和租赁酒店 286 286 286
加盟和管理酒店 993 1,001 1,003
全部开业酒店 1,279 1,287 1,289
开业酒店全部客房数量(间)
自有和租赁酒店 21,835 21,876 22,014
加盟和管理酒店 84,595 85,737 85,403
全部开业酒店 106,430 107,613 107,417
全部签约酒店数量(家)
自有和租赁酒店 292 295 295
加盟和管理酒店 1,078 1,109 1,105
全部签约酒店 1,370 1,404 1,400
全部签约酒店客房数量(间)
自有和租赁酒店 22,712 23,226 23,226
加盟和管理酒店 92,653 97,345 96,489
全部签约酒店 115,365 120,571 119,715
2017 年第二季度 2018 年第一季度 2018 年第二季度
客房出租率(%)
自有和租赁酒店 73.72 65.13 75.14
加盟和管理酒店 64.70 57.58 64.28
全部开业酒店 66.01 59.32 66.74
平均房价(欧元/间)
自有和租赁酒店 54.76 51.92 56.82
加盟和管理酒店 61.30 55.08 56.30
全部开业酒店 57.56 54.28 56.43
可供客房提供的客房收入(欧元/间)
自有和租赁酒店 40.37 33.82 42.69
加盟和管理酒店 39.66 31.72 36.19
全部开业酒店 38.00 32.20 37.66
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
Stock code: 600754, 900934 Stock name: Jin Jiang Shares, Jin Jiang B Share
Shanghai Jin Jiang International Hotels Development Co., Ltd.
2018 Interim Report
Important Notice
I. The Board of Directors, the Supervisory Committee, directors, supervisors and senior
management staff of Shanghai Jin Jiang International Hotels Development Co., Ltd.
(hereinafter referred to as the "Company") warrant that the information carried in this report is
factual, accurate and complete, without any false record, misleading statement or material
omission. And they shall be jointly and severally liable for that.
II. The interim report was reviewed and passed by the Company in the 55th Meeting of the 8th
Session of the board of directors as at 29 August 2018. All directors of the Company are
present at the board meeting.
III. The interim report has not been audited. The Company has prepared the financial statements
for the six months ended as at 30 June 2018 in accordance with the Accounting Standards for
Business Enterprises, which have been reviewed by Deloitte Touche Tohmatsu CPA (LLP),
with the issuance of De Shi Bao (Yue) Zi (18) No.R00082 standard unqualified opinion.
IV. Yu Minliang, Principal and chaiman of the Company, Zhang Xiaoqiang, Chief Executive
Officer, Ms Shen Li, Chief Financial Officer and person in charge of the accounting work, and
Ms Wu Lin, person in charge of the accounting body (chief of accounting), hereby declare that
they guarantee the factuality, accuracy and completeness of the financial statements in this
report.
V. The profit distribution proposal or the proposal of converting reserve into share capital for the
reporting period which are reviewed and discussed by the board of directors:
None.
VI. Statement regarding risks concerning forward-looking statements
√Applicable □Not Applicable
Any forward-looking statement such as those involving any future plan and development
strategy in this report shall not be considered as virtual promises of the Company to investors.
And investors are kindly reminded to pay attention to possible investment risks.
VII. Did the controlling shareholder or its related parties occupy the Company's capital for
non-operating purposes?
No.
VIII. Did the Company provide guarantees for external parties in violation of the prescribed
decision-making procedure?
No.
IX. Reminder of Significant Risks
The Company has described in detail the existing risks including industry risk and market risk
in the report. Please kindly Refers tothe content in the section of operation discussion and
1
2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
analysis.
X. Others
√Applicable □Not Applicable
The interim report is printed in Chinese and English, if there is any discrepancy between the
Chinese and the English versions, the Chinese version shall prevail.
2
2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
Contents
I. Definition……………………………………………………………………………………………4
II. Company Profile & Financial Indicator Highlights…………………………………………………6
III. Company Business Overview……………………………………………………………………… 9
IV. Operation Discussion & Analysis………………………………………………………………… 12
V. Significant Events………………………………………………………………………………… 27
VI. Changes in Ordinary Shares and Particulars about Shareholders………………………………… 35
VII. Particulars about Preference Shares……………………………………………………………… 38
VIII. Directors, Supervisors & Senior Management Staff………………………………………………39
IX. Particulars about Company Bonds…………………………………………………………………40
X. Financial Report……………………………………………………………………………………41
XI. Document for Reference……………………………………………………………………………42
3
2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
Section I Definition
The items in the left column Refers tothe explanations in the right column unless as otherwise
specified.
Explanation of commonly used words
Company, the Company
Refers to Shanghai Jin Jiang International Hotels Development Co., Ltd.
Jin Jiang Development
Shanghai Jin Jiang International Hotels (Group) Co., Ltd.,
Jin Jiang Hotels Group Refers to
controlling shareholder of the Company
Jin Jiang International (Holdings) Co., Ltd., the actual
Jin Jiang International Refers to controller of legal persons of Jin Jiang Development and Jin
Jiang Hotels Group
Jin Jiang Capital Refers to Shanghai Jin Jiang Capital Management Co., Ltd.
Shanghai Jin Jiang Louvre Asia Hotel Management Co., Ltd.,
Louvre Asia Refers to originally named as "Shanghai Jin Jiang Metropolo Hotel
Management Co., Ltd."
Jin Jiang Inn Refers to Jin Jiang Inn Co., Ltd.
Hotels Investment Refers to Shanghai Jin Jiang International Hotels Investment Co., Ltd.
Goldmet Inn Refers to Shanxi Goldmet Inn Management Co., Ltd.
Smartel Refers to Smartel Hotel Management Co., Ltd.
Jin Lu Investment Refers to Shanghai Jin Lu Investment Management Co., Ltd.
Sailing Investment Refers to Sailing Investment Co.Sarl, registered in Luxembourg
Group du Louvre, GDL Refers to Group du Louvre (Louvre Hotels Group), registered in France
Louvre Hotels Group,
Refers to Louvre Hotels Group, registered in France
LHG
Combination of Keystone Lodging Holdings Limited and its
Plateno Group Refers to
subsidiaries
Vienna Hotel Refers to Vienna Hotel Co., Ltd.
Da Hua Hotel Refers to Shanghai Jin Jiang Da Hua Hotel Co., Ltd.
Minhang Hotel Refers to Shanghai Minhang Hotel Co., Ltd.
Jinpan Hotel Refers to Shanghai Jinpan Hotel Co., Ltd.
East Asia Hotel of Shanghai Jin Jiang International Hotels
East Asia Hotel Refers to
Development Co., Ltd.
Nanjing Hotel of Shanghai Jin Jiang International Hotels
Nanjing Hotel Refers to
Development Co., Ltd.
Metropole Hotel of Shanghai Jin Jiang International Hotels
Metropole Hotel Refers to
Development Co., Ltd.
New Asia Hotel of Shanghai Jin Jiang International Hotels
New Asia Hotel Refers to
Development Co., Ltd.
Shanghai Hua Ting Guest Shanghai Hua Ting Guest House Co., Ltd.of Shanghai Jin Jiang
Refers to
House Co., Ltd. International Hotels Development Co., Ltd.
Shanghai Magnotel Hotel Shanghai Magnotel Hotel Co., Ltd. of Shanghai Jin Jiang
Refers to
Co., Ltd. International Hotels Development Co., Ltd.
Marvel Hotel of Shanghai Jin Jiang International Hotels
Marvel Hotel Shanghai Refers to
Development Co., Ltd.
Shanghai Jin Jiang International Catering Investment
Catering Investment Refers to
Management Co., Ltd.
New Asia Food Refers to Shanghai New Asia Food Co., Ltd.
Shanghai Jin Jiang International Food & Catering Management
Jin Jiang Food Refers to
Co., Ltd.
4
2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
Jinzhu Catering Refers to Shanghai Jinzhu Catering Management Co., Ltd.
Jinya Catering Refers to Shanghai Jinya Catering Management Co., Ltd.
Jin Jiang Tung Lok Refers to Shanghai Jin Jiang Tung Lok Catering Management Inc.
Shanghai Yoshinoya Refers to Shanghai Yoshinoya Co., Ltd.
Shanghai KFC Refers to Shanghai Kentucky Fried Chicken Co., Ltd.
New Asia Fulihua Refers to Shanghai New Asia Fulihua Catering Co., Ltd.
Hangzhou KFC Refers to Hangzhou Kentucky Fried Chicken Co., Ltd.
Wuxi KFC Refers to Wuxi Kentucky Fried Chicken Co., Ltd.
Suzhou KFC Refers to Suzhou Kentucky Fried Chicken Co., Ltd.
Jing An Bakery Refers to Shanghai Jing An Bakery Co., Ltd.
Baisuicun Catering Refers to Shenzhen Baisuicun Catering Chain Co., Ltd.
WeHotel Refers to Shanghai WeHotel Network Technology Co., Ltd.
Sarovar Refers to Sarovar Hotels Private Limited
Jin Jiang Finance Refers to Jin Jiang International Finance Co., Ltd.
Changjiang Securities Refers to Changjiang Securities Co., Ltd.
Shenwan Hongyuan Refers to Shenwan Hongyuan Group Co., Ltd.
HongYi Investment Fund Refers to HongYi (Shanghai) Investment Fund Center LLP
Guosheng Investment Refers to Shanghai Guosheng (Group) Investment Co., Ltd.
Great Wall Asset
Refers to China Great Wall Asset Management Co., Ltd.
Management
HuaAn Asset Management Refers to HuaAn Future Asset Management (Shanghai) Co., Ltd.
SIG Asset Management Refers to SIG Asset Management Co., Ltd.
CSRC Refers to China Securities Regulatory Commission
SSE Refers to Shanghai Stock Exchange
HKEX Refers to The Stock Exchange of Hong Kong Ltd.
State-owened Assets Supervision and Administration
ASSACS Refers to
Commission of Shanghai
Company Law Refers to PRC Company Law
Securities Law Refers to PRC Securities Law
Occupancy rate Refers to (Rooms actually occupied/total rooms available)×100%, %
Average daily room rate Refers to Total room income/rooms actually occupied, in RMB
Average daily room income provided by per available room,
RevPAR Refers to average room income = average daily room rate x occupancy
rate, in RMB
EBITDA Refers to Earnings Before Interest, Taxes, Depreciation and Amortization
Articles of Association of Shanghai Jin Jiang International
Articles of Association Refers to
Hotels Deveopment Co., Ltd.
The reporting period, the
current period; the end of
Refers to The period from 1 January 2018 to 30 June 2018; 30 June 2018
the reporting period, the
end of the current period
The same period of the
prior year, the prior period; Refers to The period from 1 January 2017 to 30 June 2017; 30 June 2017
the end of the prior period
RMB, RMB0'000 Refers to Renminbi, Renminbi 0'000
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
Section II Company Profile & Financial Indicator Highlights
I. Information about the Company
Chinese name of the Company 上海锦江国际酒店发展股份有限公司
Chinese short name of the Company Jin Jiang Development
English name of the Company Shanghai Jin Jiang International Hotels Development Co., Ltd.
English abbreviation of the Company JINJIANG SHARES
Legal representative of the Company Mr. Yu Minliang
II. Contact us
Board Secretary Securities Affairs Representative
Name Ms Hu Min Ms Yang Jie
Address 25/F, No.100 East Yan'an Road, Shanghai 25/F, No.100 East Yan'an Road, Shanghai
Telephone 86-21-63217132 86-21-63217132
Fax 86-21-63217720 86-21-63217720
Email JJIR@jinjianghotels.com JJIR@jinjianghotels.com
III. Changes in basic information
Registered address 4/F (B Area), East Jin Jiang Hotel Commercial
Building, No.889 South Yanggao Road of China
(Shanghai) Pilot Free Trade Zone
Postal code for the registered address 200127
Office address 25/F, No.100 East Yan'an Road, Shanghai
Postal code for the office address 200002
Homepage of the Company http://www.jinjianghotels.sh.cn
Email JJIR@jinjianghotels.com
Index for query of changes during the reporting period
IV. Changes in information disclosure and where this report is placed
Newspapers designated by the Company for information disclosure Shanghai Securities News, Ta Kung Pao (HK)
Website designated by CSRC for disclosing this report http://www.sse.com.cn
Where this report is placed The office for board secretary of the Company
Index for query of changes during the reporting period
V. Basic information about the stock of the Company
Stock variety Stock exchange Stock abbreviation Stock code Stock abbreviation
before change
A share Shanghai Stock Jin Jiang Development 600754 New Asia
Exchange
B share Shanghai Stock Jin Jiang B Share 900934 New Asia B Share
Exchange
VI. Other relevant information
□Applicable √Not Applicable
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
VII. Accounting and financial indicator highlights of the Company
(I) Accounting highlights
Unit: RMB
The current reporting period The same period of prior year Changes
Accounting highlights
(from January to June 2018) (from January to June 2017) (%)
Operating income 6,939,349,148.33 6,289,013,150.53 10.34
Net profit attributable to 22.05
shareholders of the 503,408,830.91 412,453,689.41
Company
Net profit attributable to
shareholders of the
Company, net of 315,587,159.32 199,462,003.05 58.22
non-recurring profit or
loss
Net cash flows from 10.36
1,541,924,325.84 1,397,211,235.52
operating activities
The end of current reporting
The end of prior year Changes
period
(31 December 2017) (%)
(30 June 2018)
Net assets attributable to -5.68
shareholders of the 12,247,255,770.81 12,984,302,937.29
Company
Total assets 39,438,716,260.46 43,559,696,291. 44 -9.46
(II) Financial indicator highlights
The current reporting period The same period of last year Changes
Financial indicator highlights
(from January to June 2018) (from January to June 2017) (%)
Basic earnings per share(RMB/share) 0.5255 0.4306 22.05
Diluted earnings per hare(RMB/share) Not Applicable Not Applicable Not Applicable
Basic EPS net of non-recurring profit
0.3294 0.2082 58.22
or loss ((RMB /share))
Weighted average ROE (%) Up 0.81
4.03 3.22
percentage points
Weighted average ROE net of Up 0.97
2.53 1. 56
non-recurring profit or loss (%) percentage points
Description of accounting and financial indicator highlights of the Company
□Applicable √Not Applicable
Exchange rates
29 June 2018 29 December 2017 30 June 2017
1 USD against RMB 6.6166 6.5342 6.7744
1 EUR against RMB 7.6515 7.8023 7.7496
1 HKD against RMB 0.84310 0.83591 0.86792
Note: The exchange rate represents the central parity of RMB against a foreign currency in the market
published by China Foreign Exchange Trade Center under authorization of the People's Bank of China.
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
VIII. Accounting data differences between domestic and foreign accounting standards
□Applicable √Not Applicable
IX. Items and amounts of non-recurring profit or loss
√Applicable □Not Applicable
Unit: RMB
Items Amounts Notes (If applicable)
76,005,404.64 Compensation income from
Gains or losses from disposal of non-current assets
relocation of subsidiary
Government grants recognized in the current period,
except for those acquired in the ordinary course of Government grants acquired
36,031,789.25
business or granted at certain quotas or amounts by the parent company ect.
according to unified standards of China
Profit or loss on changes in the fair value of
held-for-trading financial assets and held-for-trading
Mainly represented as
financial liabilities and investment income on disposal
investment income from
of held-for-trading financial assets, held-for-trading 77,332,976.60
disposal of the stock of
financial liabilities and available-for-sale financial
Changjiang Securities
assets, other than those used in the effective hedging
activities relating to normal operating business
The effect of adjustments to
Effects on profit or loss of one-off adjustment to profit
the future EIT rate
or loss for the period according to the requirements of 56,685,131. 22
applicable in France on
tax laws and accounting laws and regulations
income tax expenses
Other non-operating income or expenses other than the
10,777,647.83
above
Gains from disposal of subsidiaries and joint ventures 9,095,353.40
Effects attributable to minority interests -24,412,323.92
EIT accrued for disposal of
the stock of Changjiang
Securities, compensation
Tax effects -53,694,307.43
income from relocation of
subsidiary and government
grants acquired
Total 187, 821, 671. 59
Note: 1. On 31 December 2017, the Company held 53,000,000 shares of Changjiang Securities,
accounting for 0.96% of total share capital of Changjiang Securities. From 13 to 28 March
2018, the Company sold 13,000,000 shares of Changjiang Securities via the system of
Shenzhen Stock Exchange. Pre-tax investment income arrived net of cost and relevant
transaction tax amounted to RMB77.3761million. As at 30 June 2018, the Company held
40,000,000 shares of Changjiang Securities, accounting for 0.72% of total share capital of
Changjiang Securities.
2. In accordance with the finance decree of France issued in 2018, the applicable EIT rate of
France will graduate to 25.83% from 28.92% from 2020 on. The effect of the said adjustment
to income tax rate on the financial statements of the Company for six months ended 30 June
2018 amounted to RMB 56,685,131.22, which is mainly due to decrease in deferred tax
liabilities corresponding to evaluation appreciation of the Company's identifiable net assets
acquired from Group du Louvre of France in 2015.
X. Others
□Applicable √Not Applicable
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
Section III Company Business Overview
I. Description of the company's major business, business model and industry overview
during the reporting period
During the reporting period, the company mainly engaged in "limited service hotel operation
and management business" and "food and catering business".
A limited service hotel refers to a hotel that provides basic professional services for guests with
the core products of accommodation suitable for mass consumption. From the perspective of
hotel function setting, the limited service hotel has different characteristics from the
full-service hotel in terms of equipment configuration, organizational structure and hotel
service. The Company's existing limited service hotel operation and management business,
including limited service business hotel, economy hotel investment and management. The
business model is mainly divided into "direct operation" and "franchise". The direct operation
model refers to the use of specific brands under the company to operate the hotel
independently through the form of own property or rental property. The Company's revenue
from direct hotels mainly comes from the income from rooms and catering, and enjoys or
assumes the operating income or loss of the hotel. Franchise mode is mainly divided into
"franchise" and "fiduciary management". Franchising means that the company, by signing a
franchise contract with the hotel owner, licenses the company's brands, registered trademarks,
business methods, operating procedures and other operating resources to the hotel for use
within the agreed period, and collects franchise fees and room reservation service fees from the
hotel. Fiduciary management means that the company, through signing the management
contract with the hotel owner, exports the company's management mode, service standards,
quality standards and management personnel to the entrusted management hotel, and collects
management fees and room reservation service fees from the entrusted management hotel.
The Company's existing food and catering business, including restaurant investment and
management. The business model is mainly divided into "direct management" and "franchise".
The direct management mode refers to the use of specific brands under the company to operate
restaurants independently through the form of leasing property. The main source of the
Company's income from direct restaurants is the catering income, and the company enjoys or
assumes the operating income or losses of the restaurants. Franchise mode is mainly divided
into "franchise" and "fiduciary management". Franchising means that the Company, by
signing a franchise contract with the restaurant owner, licenses the company's brands,
registered trademarks, business methods, operating procedures and other operating resources to
the licensed restaurants within the agreed period, and collects franchise fees from the
restaurants. Fiduciary management means that the Company, through signing the management
contract with the restaurant owner, outputs the company's management mode, service
standards, quality standards and management personnel to the entrusted management
restaurant, and collects management fees from the entrusted management restaurant. The joint
venture's restaurants, such as KFC and yoshinoya, franchise related brands in the form of a
joint venture.
According to the Industry Classification Results of Listed Companies in the Second Quarter of
2015 issued by China Securities Regulatory Commission, the Company belongs to the H61
lodging industry in the H hotel and catering industry belonging to the listed company. The
accommodation industry, also known as the hotel industry, refers to the activities that provide
travelers with short-term accommodation places. Some units only provide accommodation,
while others provide accommodation, food, business and entertainment services. This category
does not include the activities that mainly rent houses and residence by month or year.
According to the Classification of National Economy Industries issued by the National Bureau
of Statistics (GB/ t4754-2011), the industry of the company belongs to the "tourist hotel"
(industry code: H6110).
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
The hotel industry is closely related to the tourism industry and business activities, mainly
targeting consumers in the tourism market, business activities, and conference hosting and
conference exhibition industry. Tourism has become the most dynamic and potential emerging
industry in China's tertiary industry. Its position in the national economy has been constantly
strengthened and improved.
II. Description of signifcant changes in the Company's major assets during the reporting
period
□Applicable √Not Applicable
III. Analysis of core competitiveness during the reporting period
√Applicable □Not Applicable
After more than 20 years of efforts, the Company has formed and is actively improving its core
competitiveness. After years of efforts, the Company will further enhance its advantages in
"management, brand, network, talent" and consolidate its market leading position in the
relevant industries such as limited service hotels.
During the reporting period, the Company made the following main measures in terms of
strengthening, improving and improving its core competitiveness, and achieved corresponding
results:
Centering on the strategic plan of the 13th five-year plan, we will adhere to the two-wheel
drive mode of "capital management and excellent operation" and continue to promote the deep
integration of the limited service hotel sector in accordance with the policy of "genetic
unchanged, background integration, advantages complementation and common development".
We will strive to improve the brand, quality and efficiency and achieve high-quality
development.
As of 30 June 2018, the Company had a total of 158.63 million members.
In 2018, in the 18th session of the China hotel golden horse awards ceremony, China hotel
golden horse award evaluation committee awarded the "Metropolo Hotel" brand, "Magnotel"
brand and "7 Days U" brand the title of "China's most valuable brands for 2018", awarded
the "Lavande" brand " the title of China's most popular with consumers in the mid-range chain
hotels brand", awarded the "IU" brand the title of "the most innovative value chain hotel
brand" title, awarded the "Zmax" brand as the best lifestyle hotel brand in China, awarded the
title of "China's best green and environmental protection hotel brand in 2018" to the brand of
"Vienna 3 good hotels" and the title of "preferred Chinese hotel management company for
investors in 2018" to Jin Jiang Inne, Vienna Hotel and Lavande Hotel.
At the 2018 Asian hotel BBS annual meeting and the 13th China hotel starlight award
ceremony, "Metropolo Hotel" brand won the "2017 China's most development potential hotel
brand" title, "Companile" brand won the "China most valuable in the international hotel brand"
title, "Magnotel" brand, "James Joyce Coffetel" brand, "IU" brand won the "China most
valuable hotel chain brand" title, "seven days is superior" brand won the "China's most popular
hotel brand" title, "7-days U" brand won the "China best monomer hotel investment brand"
title, Jin Jiang Inn was awarded the title of "China's most potential hotel brand management
company", and Vienna Hotel was awarded the title of "China's most influential hotel chain
group".
WWW. MEADIN.COM awarded "Jin Jiang Inn" brand, as "2017 Chinese tourist lodging
industry brand top 100 list of the year" title, awarded the "Jin Jiang Inn" brand, "7 days" brand
"2017 annual budget hotel top ten influential brand" title, awarded the " Metropolo Hotel "
brand, "Lavande" brand, brand "Vienna", "2017 annual limited service mid-range hotel brand
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
influence Jin Hang award title, awarded the "Companile"brand " 2017 limited service
mid-range hotel investment value brand Jin Hang award title, Awarded the title of "Magnotel"
brand "golden airline award of 2017 annual competitive brand of limited service mid-range
hotel", and the title of "the first hotel that received attention from hundreds of
investors/property owners"; The award of "lifeng" brand in the selection of top ten innovative
brands of major accommodation industry and space industry in 2017 was awarded as "top ten
innovative brands of major accommodation industry and space industry in 2017".
China hotel association awards the title of "Jin Jiang Inn" brand, "Vienna hotel" brand "jinding
award top 10 hotel chain brand of 2018"; "Vienna Hotel", "Lavande", " James Joyce Coffetel"
and "Chonpine Hotel" are among the top 20 brands of Chinese chain hotels in 2018 released by
China hotel association. The brand rating authority, Jin Jiang Inn, was awarded the title of
"most recommended brand by c-nps customers in China's express hotel industry in 2018".
Liwu summit awarded jinjiang ducheng hotel the title of "the most brand personality boutique
hotel in China 2017-2018"; China brand conference awarded " Jin Jiang Inn"2017-2018 China
chain hotel franchise top ten brand "title; 2017-2018 golden light award of China hotel industry
awarded the title of "white magnolia" brand "best new brand in China hotel industry"; The 14th
China hotel investment summit BBS awards the title of "yu jinxiang" brand "the best
innovative brand of the year"; China tourism hotel industry association awards the title of
"xian" brand, "chengpin" brand "the most growing hotel brand"; The "li feng" brand won the
title of "the most popular brand among consumers" in the 2017 zhen travel award of the
website of tencent dayue. The 2018 golden eagle award of China hotel industry awarded the
title of "xian" brand "outstanding new brand" and "development achievement award"; The
CHTA Future Travellers conference was awarded CHTA Future Travellers Disruptive Award ";
The 2018 One Belt And One Road hotel investment and brand development international BBS
and China hotel investment "CHIA five-star diamond award" awards ceremony awarded
Vienna hotel "China hotel chain hotel group with the most brand influence" title.
Jin Jiang Development was awarded the "annual merit medal" by "interface capital BBS and
interface gold medal honor ceremony 2018" hosted by Shanghai media group | interface
finance association; The 15th China hotel group sponsored by China tourism hotel industry
association in the selection of BBS, Jin Jiang Development won the title of "best shareholder
return".
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
Section IV Operation Discussion & Analysis
I. Operation discussion and analysis
In the first half of 2018, in the face of industry transformation and upgrading of the
development of the period, the opportunities and challenges of business environment, the
company will unswervingly implement the "deep domestic and global layout, multinational
business" development strategy, and actively implement integration measures such as change,
insist on maintaining stability, to the mass transfer efficiency, better to complete the main tasks
during the first half of the year.
On Oct 20, 2017, the Company signed a share transfer agreement with Prototal Enterprises
Limited (hereinafter referred to as "Prototal") pursuant to which the Company purchased
Prototal's 12.0001% of equity in Keystone Lodging Holdings Limited (hereinafter referred to
as "Keystone"). On January 12, 2018, the transaction completed, and the Company's stake in
Keystone increased from 81.0034% to 93.0035%.
From January to June 2018, the Company achieved consolidated operating revenue of RMB
6,939.35 million, up 10.34% from the same period last year. Operating profit was RMB 715.52
million, up 53.04% from a year earlier. The net profit attributable to shareholders of the listed
company was RMB 503.41 million, up 22.05% from the same period last year. Net profit
attributable to shareholders of listed companies after deducting non-recurring profit and loss
reached RMB 315.59 million, up 58.22% year on year.
On June 30, 2018, the total assets of the Company was RMB 39,438.72 million yuan, down
9.46% from the end of last year; total liabilities amounted to RMB 26,024.21 million, down
10.09% from the end of last year; The net assets attributable to shareholders of listed
companies were RMB 12,247.26 million, down 5.68% from the end of last year. The debt-asset
ratio was 65.99%, 0.46 percentage points lower than the end of last year.
From January to June 2018, the Company realized a net cash flow generated by operating
activities of RMB 1,541.92 million, up 10.36% from the same period last year.
During the reporting period, the major reasons for changes in accounting highlights of the
Company as as follows:
The consolidated operating revenue increased compared with the same period of last year,
mainly due to the year-on-year growth of the operating revenue of Lourve Asia, GDL, Plateno
Group and Vienna Hotel, etc.
The net profit attributable to the shareholders of the listed company increased year on year,
mainly due to five factors changes. Second, the investment income of KFC in Shanghai,
Hangzhou, Suzhou and Wuxi increased year on year. Third, during the reporting period,
jinjiang star factor company moved to obtain compensation benefits; Fourthly, due to the
reduction of corporate income tax rate of Applicable in the future of France, the amount of
deferred income tax liabilities corresponding to the increment of identifiable net asset
evaluation of France Louvre group in 2015 is reduced compared with the same period of last
year. Fifth, the company achieved the sale of changjiang securities income tax earnings before
the same period last year.
The decline in total assets compared with the end of last year is mainly due to the repayment of
bank borrowings in the reporting period, the decline in the fair value of the stock of
Changjiang Securities, and the Company's payment of 12.0001% equity payment to Plateno
Group.
The net amount of cash flow generated from operating activities is higher than the same period
of last year, which is mainly due to recovery of deposits and interest of the three-year time
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
deposit in the current period etc..
Businesses of Limited Service Hotels
1. Overview of development of the global hotel sector
From January to June 2018, the limited service hotel business achieved consolidated operating
revenue of RMB 6,825.51 million, up 10.73 percent over the same period last year. Net profit
attributable to the limited service hotel business division was RMB 392.4 million yuan, up
15.14 percent over the same period last year.
Realized operating income in mainland China reached RMB 4,847.16 million, up 10.91%
over the same period last year. Realized perating income outside mainland China reached
RMB 1,978.35 million, up 10.28 percent from a year earlier. The proportion of operating
income from mainland China accounted for 71.02% of that of the entire hotel business, the
proportion of operating income outside mainland China accounted for 28.98% of that of the
entire hotel business.
Income from first-time franchise inlcuded in the consolidated operating income was RMB
265.88 million, up 18.80% over the same period last year. Income from continuing franchise
fees amounted to RMB 1,039.6 million yuan, up 18.12 percent from a year earlier.
From January to June 2018, 548 new hotels were opened, 207 hotels were closed, and net
increase of 341 hotels opened, including a decrease of 30 directly operated hotels and an
increase 371 franchise hotels. As of June 30, 2018, a total of 7,035 hotels have been opened
with a total of 686,742 guest rooms.
Description of limited service chain hotels that have been opened as of June 30, 2018:
Number of running hotels Number of guestrooms available
Number of hotels Proportion Number of Proportion (%)
(%) guestrooms
Mid-range hotels 1,985 28.22 249,736 36.37
Budget hotels 5,050 71. 78 437,006 63.63
Total 7,035 100.00 686,742 100.00
Including: Direct-sale stores 1,025 14.57 116,259 16.93
Franchises 6,010 85.43 570,483 83.07
As of June 30, 2018, the total number of the contracted hotels reached 10,162, and the total
number of rooms of the contracted hotels reached 1,023,188.
As of June 30, 2018, the Company's contracted limited service chain hotels are distributed in
329 prefecture-level cities and province-level administered counties and cities in 31 provinces,
autonomous regions and municipalities directly under the central government in mainland
China, as well as 67 countries or regions outside mainland China.
2. Operations of lmited service hotel chains by region
(1)Business operations in mainland China
From January to June, 2018, the Company's limited service hotel chain business in mainland
China achieved consolidated operating revenue of RMB 4,847.16 million, up 10.91% over the
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
same period last year. Operating income from the first-time franchise included in the
consolidated operating revenue was RMB 265.88 million, up 18.80% over the same period last
year. Revenue from continuing franchise was RMB 562.23 million, up 24.26% over the same
period last year.
The following table shows the company's number of limited service hotels and rooms in
mainland China as of June 30, 2018:
Provinces Number Hotels operated in mainland China Contracted hotels in mainland China
(or of cities Direct-sale hotels Franchise hotels Direct-sale hotels Franchise hotels
direct-administered the hotels
municipalities, are Number Number Number Number
Number of Number of Number of Number of
autonomous distributed of of of of
guestrooms guestrooms guestrooms guestrooms
regions in hotels hotels hotels hotels
Beijing 1 39 5,103 250 22,905 39 5,103 331 30,377
Tianjin 1 14 1,955 118 10,424 14 1,955 174 15,157
Hebei 12 5 674 225 17,516 5 674 371 30,307
Shanxi 11 20 2,466 100 8,602 22 2,871 153 13,432
Inner Mongolia 12 1 128 59 5,674 1 128 105 10,552
Liaoning 14 27 3,542 113 10,908 27 3,542 154 14,557
Jilin 9 12 1,576 38 3,683 12 1,576 78 8,145
Heilongjiang 10 8 841 63 5,342 8 841 91 7,997
Shanghai 1 62 8,665 219 27,153 70 9,788 264 31,834
Jiangsu 13 61 7,191 465 43,962 64 7,772 659 63,369
Zhejiang 11 30 4,231 161 16,530 32 4,497 247 27,172
Anhui 16 10 1,327 122 10,210 10 1,327 248 22,357
Fujian 9 16 2,072 82 8,327 16 2,072 133 14,558
Jiangxi 11 27 3,053 167 15,762 27 3,053 277 27,945
Shandong 17 17 1,931 358 31,341 17 1,931 582 51,501
Henan 18 8 1,320 184 17,442 9 1,399 300 29,965
Hubei 14 42 5,092 174 16,267 42 5,092 344 34,939
Hunan 14 47 5,027 195 20,023 49 5,245 366 40,351
Guangdong 21 151 21,434 859 96,422 152 21,704 1,358 155,237
Guangxi 14 13 2,064 118 14,691 13 2,064 253 31,970
Hainan 4 9 1,057 48 5,539 9 1,057 77 9,413
Chongqing 1 14 1,677 123 9,812 14 1,677 175 14,335
Sichuan 21 37 4,455 237 19,393 37 4,455 368 32,397
Guizhou 9 18 1,815 120 11,029 18 1,815 210 22,006
Yunnan 15 9 954 64 5,243 10 1,160 112 10,962
Tibet 5 2 218 13 1,269 2 218 26 2,724
Shaanxi 9 23 2,646 151 14,699 23 2,646 230 23,315
Gansu 14 5 470 61 5,237 5 470 109 10,691
Qinghai 4 4 267 41 3,358 4 267 63 5,787
Ningxia 5 3 414 26 2,486 3 414 45 4,276
Xinjiang 13 5 580 53 3,831 6 707 99 8,325
Total 329 739 94,245 5,007 485,080 760 97,520 8,002 805,953
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
The following table lists the company's RevPAR situation of mid-end hotels and budget hotels
in mainland China from January to June 2018:
Average room price Average occupancy rate RevPAR
Classification
(RMB/room) (%) (RMB/room)
January to January to January to January to January to January to
Changes (%)
June 2018 June 2017 June 2018 June 2017 June 2018 June 2017
Mid-range hotels 259.95 245.97 80.78 83.68 209.99 205.83 2.02
Budget hotels 158.87 152.92 75.36 78.07 119.72 119.38 0.28
Average 195.62 177.71 77.24 79.49 151. 10 141. 26 6.97
(2)Business operations outside mainland China
From January to June, 2018, the Company's limited service hotel chain business outside
mainland China realized consolidated operating income of EUR 257.38 million, up 6.40% from
the same period last year. Realized net profit attributable to owners of the parent company, was
EUR 15.08 million, down 24.79% from the same period last year.
Decrease in net profit attributable to owners of the parent company is mainly due to decrease in
the effect of the cut of the future applicable EIT rate in France on income tax expenses
comparing with the same period of the prior year.
The following table shows the number of hotels and rooms in limited service hotels outside
mainland China as of June 30, 2018:
Hotels operated outside mainland China Contracted hotels outside mainland China
Countries (or
Direct-sale hotels Franchise hotels Direct-sale hotels Franchise hotels
areas) outside
mailand China Number Number of Number Number of Number Number of Number Number of
of hotels guestrooms of hotels guestrooms of hotels guestrooms of hotels guestrooms
Europe 284 21,806 731 50,808 293 23,018 744 52,051
Including: France 197 14,194 651 41,804 197 14,194 658 42,395
Asia 2 208 197 23,213 2 208 268 31,062
Americas 25 5,150 26 5,410
Africa 50 6,232 67 7,966
Total 286 22,014 1,003 85,403 295 23,226 1,105 96,489
The following table shows the Company's RevPAR situation of mid-range hotels and budget
hotels outside mainland China from January to June 2018:
Average room price Average occupancy rate RevPAR
(EUR/Room) (%) (EUR/Room)
Categories
January to January to January to January to January to January to Changes
June 2018 June 2017 June 2018 June 2017 June 2018 June 2017 (%)
Mid-range
63.27 68.26 54.73 54.90 34.63 37.47 -7.58
hotels
Budget hotels 52.60 52.54 66.77 64.62 35.12 33.95 3.45
Average 55.44 57.26 63.08 61. 35 34.97 35.13 -0.46
In the third quarter of 2018, the Company's total limited service hotel chain operation and
management business revenue is expected to be RMB 3,700 million to RMB 4,090 million, of
which the Company's business revenue in mainland China is expected to be RMB 2,690 million
to RMB 2,970 million, and the business revenue outside mainland China is expected to be EUR
131 million yuan to EUR 145 million. In view of the uncertainties in the operation process and
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
the difference between the expected data and the regular report data, the estimated data are for
the reference of investors.
Food and catering business
From January to June 2018, the food and catering business achieved a consolidated operating
revenue of 113.58 million yuan, down 8.93% from the same period last year.
Main reasons for the fall of the food and catering business's consolidated revenues are: firstly,
engaged in jinjiang food meals service business revenue growth than the same period last year,
secondly is engaged in the brocade of Chinese fast food chain food and beverage revenue
year-on-year decline, thirdly it is jinjiang pleasure for close stores 1 revenue year-on-year
decline caused by the common effect, etc. Net profit attributable to the food and catering
business division was 133.64 million yuan, up 27.06% from the same period last year; Main
reasons: first, the operating revenue of KFC in Shanghai increased from the same period of last
year, and the Company's investment income increased from the same period of last year. Second,
the Company uses "cost method" to calculate the investment income of KFC in Suzhou, KFC in
Wuxi and KFC in Hangzhou.
(I) Analysis of principal operating activities
1 Analysis of changes in items in the financial statements
Unit: RMB
Items Amount for the Amount for the prior
Portion of change (%)
period period
Operating income 6,939,349,148.33 6,289,013,150.53 10.34
Operating cost 701,145,623.29 603,775,121. 43 16.13
Selling expenses 3,711,452,919.06 3,631,647,717.77 2.20
Administration expenses 1,806,991,998.53 1,512,207,360.64 19.49
Research and development expenses 1,531,727.05 0.00 Not Applicable
Finance expenses 201,118,367.52 218,769,598.00 -8.07
Impairment losses of assets 39,728,669.85 13,767,386.24 188.57
Other income 25,379,329.13 18,100,017.83 40.22
Income from fair value changes 12,845,935.20 0.00 Not Applicable
Income (loss) from disposal of assets 76,005,404.64 -13,985,068.85 Not Applicable
Non-operating income 26,710,189.68 11,844,701. 32 125.50
Non-operating expenses 5,280,081. 73 9,530,678.49 -44.60
Income tax expenses 164,437,152.55 18,794,301. 05 774.93
Net cash flows from operating activities 1,541,924,325.84 1,397,211,235.52 10.36
Net cash flows from investing activities -168,736,824.78 -704,643,142.19 Not Applicable
Net cash flows from financing activities -4,720,847,301. 29 -1,851,466,122.55 Not Applicable
During the reporting period, changes in amounts of itmes in the consolidated income statement
and the the consolidated statement of cash flows and major reasons for such changes are
described as follows:
(1)Operating income
RMB 6,939,349,148.33 for the current period, RMB 6,289,013,150.53for the same period of the
prior year, up 10.34%, which is mainly due to increase in operating income of Lourve Asia,
GDL, Plateno Group and Vienna Hotel etc. comparing with the same period of the prior year.
(2) Research and development expenses
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
RMB 1,531,727.05 for the current period, RMB 0 for the same period of the prior year, an
increae of RMB 1,531,727.05, which is mainly due to software development expenses of
Plateno Group incurred in the current period.
(3)Impairment losses of assets
RMB 39,728,669.85 for the current period, RMB 13,767,386.24 for the same period of the prior
year, up 188.57%, which is mainly due to increase in provision for impairment losses of assets
by Plateno Group in current period, and reversal of provision for impairment losses of assets by
GDL in the same period of the prior year.
(4)Other income
RMB 25,379,329.13 for the current period, RMB 18,100,017.83 for the same period of the prior
year, up 40.22%, which is mainly due to increase in receipts of government grants comparing
with the same period of the prior year.
(5)Income from fair value changes
RMB 12,845,935.20 for the current period, RMB 0 for the same period of the prior year, an
increae of RMB 12,845,935.20, which is mainly due to fair value changes in transaction
consideration for GDL's acquistion of minority interests in Sarovar based on the equity
acquisition agreement.
(6) Income from disposal of assets
RMB 76,005,404.64 for the current period, RMB -13,985,068.85 for the same period of the
prior year, an increae of RMB 89,990,473.49, which is mainly due to compensation income
acquired on the completion of relocation Jin Jiang Inn's subsidiary in the current period.
(7) Non-operating income
RMB 26,710,189.68 for the current period, RMB 11,844,701. 32 for the same period of the
prior year, up 125.50%, which is mainly due to increase in receipts of government grants
irrelevant to daily operations comparing with the same period of the prior year.
(8)Non-operating expenses
RMB 5,280,081. 73 for the current period, RMB 9,530,678.49 for the same period of the prior
year, down 44.60%, which is mainly due to decrease the accruals of expected loss for pending
lawsuits in the same period of the prior year.
(9)Income tax expenses
RMB 164,437,152.55 for the current period, RMB 18,794,301. 05 for the same period of the
prior year, up 774.93%, which is mainly due to decrease in the effect of the cut of the future
applicable EIT rate in France on income tax expenses.
(10) Net cash flows from operating activities
RMB 1,541,924,325.84 for the current period, RMB 1,397,211,235.52 for the same period of
the prior year, increased by 10.36%, which is mainly due to recovery of interest on deposits
for the three-year-term time deposit.
(11) Net cash flows from investing activities
RMB -168,736,824.78 for the current period, RMB -704,643,142.19 for the same period of the
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
prior year, a decrease of RMB 535,906,317.41, which is mainly due to payment for the
remaining amount in respect of accepting 80% of equity in Vienna Hotel and GDL's payment
for accepting equity in Sarovar in the same period of the prior year.
(12) Net cash flows from financing activities
RMB -4,720,847,301.29 for the current period, RMB -1,851,466,122.55 for the same period of
the prior year, an increase of RMB 2,869,381,178.74, which is mainly due to purchase of a
mionority equity (12.0001%) in Plateno Group in the current period and recovery of pledged
deposits in the same period of the prior year.
(1) Detailed explanation of the Company's profit composition or source of profits that
have undergone major changes
√Applicable □Not Applicable
As mentioned above, the Company is mainly engaged in limited service hotel operation and
management, food and catering business. At the same time, the Company holds a certain
amount of marketable financial assets (including but not limited to the stock of Changjiang
Securities). The profit source of the Company mainly consists of these three aspects. During the
reporting period, the profit changes were affected by the following five aspects: first, Plateno
Group and Vienna Hotel achieved an increase in net profit compared with the same period of
last year due to the increase in operating revenue; second, the investment income of KFC in
Shanghai, Hangzhou, Suzhou and Wuxi increased year on year. Third, during the reporting
period, jinjiang star factor company moved to obtain compensation benefits; Fourth, due to the
reduction of corporate income tax rate of Applicable in the future of France, the amount of
deferred income tax liabilities corresponding to the increment of identifiable net asset
evaluation of France Louvre group in 2015 is reduced compared with the same period of last
year. Fifth, the company achieved the sale of changjiang securities income tax earnings before
the same period last year.
(2) Others
□Applicable √Not Applicable
(II) Explanation of major changes in profits caused by non-principal operating activities
□Applicable √Not Applicable
(III) Analysis of assets and liabilities
√Applicable □Not Applicable
1. Description f assets and liabilities
Unit: RMB
Proportion of Proportion of
Closing balance Closing balance Change in
closing balance closing balance
Item of the current of the prior proportion
the current period the prior period
period period (%)
to total assets (%) to total assets (%)
Cash and bank balances 6,522,070,090.94 16.54 9,883,050,065.07 22.69 -34.01
Other receivables 579,752,802.73 1. 47 903,597,885.82 2.07 -35.84
Held-for-sale assets 0.00 0.00 9,194,045.82 0.02 Not Applicable
Short-term borrowings 25,435,102.87 0.06 1,015,833,514.18 2.33 -97.50
Non-current liabilities
due within one year 617,831,418.95 1. 57 270,685,433.89 0.62 128.25
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
During the reporting period, changes in amounts of itmes in the consolidated balance sheet and
major reason for such changes are described as follows:
(1) Cash and bank balances
The closing balance is RMB 6,522,070,090.94, the opening balance is RMB 9,883,050,065.07,
down 降 34.01%, which is mainly due to repayment of borrowing during the current period.
(2) Other receivables
The closing balance is RMB 579,752,802.73, the opening balance is RMB 903,597,885.82,
down 35.84 %, which is mainly due to decrease in time deposit interest receivable as the
three-year time deposit has matured in May.
(3) Held-for-sale assets
The closing balance is RMB 0, the opening balance is RMB 9,194,045.82. Difference of RMB
9,194,045.82 between the closing balance and opening balance is maily due to the completion
of relocation of Jin Jiang Inn's subsidiary at the end of the period.
(4) Short-term borrowings
The closing balance RMB 25,435,102.87, the opening balance is RMB 1,015,833,514.18, down
97.50 %, which is mainly due to repayment of short-term bank loans.
(5) Non-current liabilities due within one year
The closing balance is RMB 617,831,418.95, the opening balance RMB 270,685,433.89, up
128.25 %, which is mainly due to increase in long-term borrowings due within one year
compared with the same period of prior year.
2. Major assets restirctions as of the end of the reporting period
√Applicable □Not Applicable
By the end of the report, the Company's resticted assets amounted to RMB 3.464 billion. Please
refer to Note 48 "Assets whose ownership or use rights are restricted"in (V) Notes to the
consolidated financial statements of "Section X Financial statements" for details.
3. Others
□Applicable √Not Applicable
(IV) Analysis of investments
1. Overall analysis of external equity investment
√Applicable □Not Applicable
During the reporting period, the total external equity investment of the Company increased by
RMB 1,108,040,000.00 up 110.59%.
(1) In January, the Company paid RMB 1,094,278,050.05 of equity payment for accepting
12.0001% of equity in Plateno Group. As of 30 June 2018, the Company held 93.0035% of
equity in Plateno Group.
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
(2) In June, the Company's wholly-owned subsidiary, GDL, paid EUR 43,000, equivalent
to RMB 331,160.20, for transaction price adjustment regarding accepting 80% of equity in
Hotels&Preference, a French hotel selling platform. As of 30 June 2018, GDL held 80% of
equity in Hotels&Preference.
(3) In June, the Company's wholly-owned subsidiary, GDL, paid 1,743,655.95 EUR,
equivalent to RMB 13,428,591.86, for the payment of accetpting 100% of equity in Annemasse.
As of 30 June 2018, the France GDL held 100% of equity in Annemasse.
(1) Significant equity investment
√Applicable □Not Applicable
On October 20, 2017, the Company signed the share transfer agreement with Prototal, pursuant
to which the Company acquired 12.0001% of equity in Keystone held by Prototal at RMB
1.2048 billion. On January 12, 2018, the transaction was completed, and the Company's equity
in Keystone increased from 81.0034% to 93.0035%.
(2) Significant non-equity investment
□Applicable √Not Applicable
(3) Financial assets measured at fair value
√Applicable □Not Applicable
Proportion to
total
Initial Ending book Gain/loss for
Varieties of In possession investments in
No. Code Abbreviation investment value the reporting
securities (Shares) securities at
(RMB) (RMB) period (RMB)
the end of the
period (%)
Shenwan
1 Stock 000166 10,000,000.00 14,969,564 65,416,994.68 6.24 748,478.20
Hongyuan
Changjiang
2 Stock 000783 69,561,409.27 40,000,000 217,199,999.99 20.73 83,376,095.35
Securities
3 Stock 002186 Quanjude 56,408.72 95,608 1,373,886.96 0.13 24,858.08
Bank of
4 Stock 601328 Communicatio 1,540,945.00 1,013,771 5,819,045.54 0.56 289,533.00
ns
Equity
investment
5 held viar Ocean 396,252,722.55 757,787,019.40 72.34 0.00
BT
L.P.
Total 477,411,485.54 / 1,047,596,946.57 100.00 84,438,964.63
Note:
1. "Profit or loss for the reporting period" refers to pre-tax income comprising cash
dividends and proceeds from sales of certain shares acquired during the current
reporting period.
2. On 31 December 2017, the Company held 53 million shares of Changjiang Securities,
accounting for 0.96% of the total Share capital of Changjiang Securities. The Company
sold 13 million shares of changjiang securities through the shenzhen stock exchange
system on March 13, 2018. After deducting the cost and related transaction taxes, the
pre-income tax Investment income RMB is 77.3761 million yuan. As of June 30, 2018,
the Company held 40 million shares of Changjiang Securities, accounting for 0.72% of
the total Share capital of changjiang securities.
3. In 2017, Plateno Group transferred ELong Inc. ("ELong"), previously held by Ocean
Imagination L.P., to Ocean Voyage L.P., a newly established partnership of Ocean
Imagination L.P. general partner Ocean Voyage L.P. Keystone became a limited partner
in Ocean BT L.P. and held a stake in the original elong through Ocean BT L.P. The
company identified it as available-for-sale financial assets.
Elong completed its acquisition of the Tongcheng Network in March 2018 and renamed
itself Tongcheng-elong Holdings Limited. In June 2018, Tongcheng submitted relevant
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
information about the application for issuance to the Hong Kong Stock Exchange.
(VI) Significant sales of assets and equity
□Applicable √Not Applicable
(V) Analysis of major holding companies and shareholders
√Applicable □Not Applicable
Unit: 0'000 Currency (except for otherwise specified):RMB
Net assets Net profit
Shareholdin attributable Operating attributable
Registered
g ration as at to the income for to the parent
Principal operating capital as at
Name of companies 30 June paraent the period company for
activities 30 June
2018 (Note company as from Jan. to the period
2018
6) at 30 June Jun. 2018 from Jan. to
2018 Jun. 2018
I. Limited service hotel chain business
(main part):
Limited service business hotel
1. Shanghai Jin Jiang Louvre Asia
investment, operation 100% 5,000 8,306 7,723 1,878
Hotel Management Co., Ltd.
management
Limited service business hotel
2. Jin Jiang Inn Co., Ltd. 100% 17,971 73,670 67,474 9,919
leasing, management
3. Shanghai Jin Jiang International Investment in the hospitality
100% 152,500 186,592 46,944 -2,334
Hotels Investment Co., Ltd. industry
Limited service hotel
4. Smartel Hotel Management Co., Ltd. accommodation, catering 100% 90,000 97,095 11,889 1,846
management
5. Shanghai Jin Lu Investment Investment management
100% 35,000 102,417 198,216 11,615
Management Co., Ltd.
Including subsidiaries:GDL (Note 1) Operating hotels and catering 262,040,000 194,880,00 257,380,00 10,360,000
100%
(Groupe du Louvre) EUR 0 EUR 0 EUR EUR
6. Keystone Lodging Holdings Operating hotels and catering 10,000
93.0035% 393,069 200,947 13,313
Limited(Note 2) USD
7. Vienna Hotel Co., Ltd. (Note 3) Operating hotels 80% 11,639 88,393 126,945 11,996
8. Shenzhen Baisuicun Catering Chain Catering business
80% 100 32 15,357 -1,095
Co., Ltd. (Note 3)
9. Shanghai Jin Jiang Da Hua Hotel Operating hotels and catering
100% 3,170 -1,010 894 -129
Co., Ltd.
10. Shanghai Minhang Hotel Co., Ltd. Operating hotels and catering 100% 769 779 1,362 39
II. Food and catering business (main
part):
1. Shanghai Jin Jiang International Catering industry
Catering Investment Management development and 100% 14,993 -7,572 11,581 -923
Co., Ltd. management, domestic trade
Including subsidiaries: ⑴Shanghai Jin Catering business
Jiang International
Food & Catering 100% 1,000 1,786 9,134 351
Management Co.,
Ltd. (Note 4)
⑵Shanghai Jinya Catering Chinese and western food and
100% 6,867 -7,523 1,254 -770
Management Co., Ltd. (Note 4) beverages
⑶Shanghai New Production of mooncake and
Asia Food Co., Ltd. frozen food 100% 1,142 -1,022 411 -214
(Note 4)
⑷Shanghai Jinzhu Catering Catering business
100% 1,000 -1,615 453 -43
Management Co., Ltd. (Note 4)
⑸Shanghai Jin Jiang Tung Lok Chinese and western food and
Catering Management Co., Ltd. (Note beverages 51% 1,890 -407 559 -108
4)
Associates: ⑴Shanghai Yoshinoya Janpanese fast food 12,300,
42.815% 419 1,781 -106
Co., Ltd. (Note 4) 000 USD
⑵ Shanghai Jing 'an Production and sales of pastry
3,830,000
Bakery Co., Ltd. (Note 14.63% -902 5,242 -497
USD
4)
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
2. Shanghai New Asia Fulia Catering Chinese food and beverages
41% 3,500 7,145 14,338 946
Co., Ltd.
III. Other businesses (main part):
Information technology
Shanghai Wehotel Network Technology
development, technical 10% 100,000 54,470 9,101 -2,382
Co., Ltd. (Note 5)
consultation, etc
Note:
1. Shanghai Jin Lu Investment Management Co., Ltd. holds 100% of equity in GDL registered
in France via its wholly-owned subsidiary Shanghai Jin Jiang (Hong Kong) Co., Ltd. and
Sailing Investment in Luxumburg successively.
2. At the end of February 2016, the Company completed the settlement of 80.0034% of the
equity in Plateno Group. On January 12, 2018, the company completed the settlement of the
12.0001% equity in Plateno Group. Upon completion, the Company holds 93.0035% of
equity in Plateno Group.
3. On July 1, 2016, the Company completed the settlement of 80% equity in Vienna hotel and
80% equity in Baisuicun Catering respectively.
4. Shanghai Jin Jiang International Catering Investment Management Co., Ltd. respectively
holds 82% of equity in Shanghai Jin Jiang International Food & Catering Management Co.,
Ltd., 95% of equity in Shanghai New Asia Food Co., Ltd., 100% of equity in Shanghai
Jinzhu Catering Management Co., Ltd., 100% of equity in Shanghai Jinya Catering
Management Co., Ltd. 51% of equity in Shanghai Jin Jiang Tung Lok Catering
Management Co., Ltd. and 42.815% of equity in Shanghai Yoshinoya Co., Ltd. Shanghai
Jin Jiang International Catering Investment Management Co., Ltd. holds 14.63% of equity
in Shanghai Jing 'an Bakery Co., Ltd. and is able to exert significant influence on the latter.
The Company respectively holds 100%, 5% and 18% of equities in Shanghai Jin Jiang
International Catering Investment Management Co., Ltd., Shanghai New Asia Food Co.,
Ltd. and Shanghai Jin Jiang International Food & Catering Management Co., Ltd.
5. In February 2017, the Company as the initiator invested RMB 100 million in Shanghai Jin
Jiang Capital Management Co., Ltd., Shanghai Lianyin Venture Investment Co., Ltd.,
Shanghai Jin Jiang International (Holdings) Co., Ltd., and Tibet Hongyi Mezzanine
Investment Management Center (LLP), and Shanghai Guosheng (Group) Investment Co.,
Ltd. to jointly establish Shanghai Wehotel Network Technology Co., Ltd.
6. The shareholding ratio at the end of the period in the table is the ratio of investees directly
or indirectly held the company.
(VI) Structured entities controlled by the Company
□Applicable √Not Applicable
II. Other disclosures
(I) Warnings and explanations that the accumulated net profits from the beginning of the
year to the end of the next reporting period may be losses or substantial changes
compared with the same period of prior year
□Applicable √Not Applicable
(II) Possible risks
√Applicable □Not Applicable
1. Risk of macroeconomic fluctuations
The prosperity of limited service hotel industry and chain catering enterprises is positively
correlated with the cycle fluctuation of national macro-economy. Although China's national
economy has maintained a sustained growth on the whole, it will also be affected by the
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
changes in the international economic and financial situation, resulting in periodic fluctuations.
In the stage of declining macroeconomic growth rate, as residents' real income is expected to
decline, the consumption of domestic travel and dining out is correspondingly reduced. At the
same time, the macro-economic adjustment will cause greater pressure on the operation of smes,
and their employees' business travel and consumption will also be reduced accordingly.
Therefore, the company's financial situation and operating results have a negative impact.
2. Risk of rising operation costs
Among the operating costs of limited service hotels and chain catering enterprises invested by
the Company, fixed costs, such as the depreciation and amortization of fixed assets and rental of
leased properties, account for a large proportion. Although the Company adopts the straight-line
method to amortize the rent of the leased property, it smoothes the impact of leasing cost on
future business performance. However, as limited service hotels and chain catering enterprises
need to continue to expand the number of direct stores, the rental cost of new direct rental stores
will change with the change of commercial real estate prices in China every year. At the same
time, major limited service hotel brands and chain catering brands will conduct competitive
lease on properties suitable for opening limited service hotels and chain catering enterprises in
the prosperous areas with convenient transportation in important cities, and such competitive
factors will further promote the rent level.
In addition, additional input, labor cost and energy cost of fixed assets facilities in stores are
likely to rise with price changes. If the average room rate and occupancy rate, as well as the per
capita consumption level and consumption volume cannot be increased accordingly, such rising
cost factors may adversely affect the operating results of the Company's limited service hotels
and chain catering enterprises.
3. Risk concerning speed of expansion
The limited service hotel industry is now in the stage of rapid development in China. Although
some of the advantages of the enterprise, including the Company have made a larger market
share and the leading position, but because of market demand and industry growth space is
very big, in the next few years, the major enterprises will further expand stores, especially in
the midrange hotels relatively small number of II. Three cities, to expand market coverage,
maintain and improve market share and lead. If the future expansion speed of the limited
service hotels of the mid-range brands of the Company is significantly lower than that of other
major competitors, the customer satisfaction may be reduced due to the relative decline of
market coverage, which indirectly affects their business results.
4. Riks concerning management of franchises
The Company mainly operates series of the brands such as Metropolo Hotel, Jin Jiang Inn,
Campanile, Golden Tulip, Plateno and Vienna by franchise. Under applicable franchise
agreement, the Company does not have full control over the management of such franchisee.
Once franchisee fails to operate in accordance with the terms of the agreement and achieve
management standards of the above brands, or fails to obtain formal evidence of ownership but
have to must be out of the site, the hotels under their management would suffer from customers
and revenue, thus having adverse effect on operating revenue. In addition, if the franchisee
misuses the brand trademarks of such series, it may also damage its reputation and brand image.
If the guest is not satisfied with the service of the Franchises, the company may be due to the
customer complaints and affect the reputation and indirectly affect the operating performance
of the Company's business limited service hotel.
5. Risk concerning ownership of lease properties
According to the Report on Placement and Purchase of Significant Assets and Connected
Transactions (hereinafter referred to as the "Report") disclosed by the Company on September
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
30,2009, as of July 31, 2009, "operating leasing management stores of Jin Jiang Inn amounted
to 86 in total, of which related housing and land were leased to the third party property owner
through Jin Jiang Inn and Hotels Investments. As of the date of conclusion of the report, the
properties of 30 stores has defects that have not obtained the valid certificate of the legal
ownership of the house and land by the lessor or the lease use has not been approved. Whether
the above owner has the legal right to lease the property is uncertain. If the business of the
relevant stores is forced to suspend due to the ownership problem of the leased property, the
business and operating results of the company will be adversely affected. Notwithstanding the
tenancy agreement and the relevant laws, the owner of the above issues shall indemnify the
relevant lessee, and the Company shall relocate the site, thereby bearing the additional cost of
replacement and renovation.
The Company has and will continue to take active and effective measures to obtain the valid
documents that the leaser of the leased premises owns the ownership of the leased property and
the legal ownership of the land use right, as well as the valid documents that the relevant actual
use of the lease is approved by the competent department. In the reorganization for 12 months
after the approval of China securities regulatory commission, will be "jinjiang star", the
problems existing in the budget hotel business leasing business outlets ohen appraisal base date
of lease business outlets ohen reduced to less than 20%, the proportion of the total in the
reorganization for 24 months after the China securities regulatory commission approval, to cut
the rate of less than 10% in the reorganization, 36 months after the approval of China securities
regulatory commission (CSRC) to cut the rate by 0%.
If the Company fails to solve within the time limit stipulated in the schedule in accordance
with the proportion and number of set in the plan to solve the ownership of leasing business
outlets ohen flaw (i.e. not in the China securities regulatory commission approved the
reorganization of 12 months from the date of reduced to 20%, or failure to reduce to 10% at 24
months, or failed to solve all in 36 months), for in the above three time points, respectively the
project failed to achieve improvement ratio and number of leasing business outlets, the
company will be within 3 months after the expiration of the relevant term point, The Items will
be transferred at least under this appraisal value, the lease will be terminated and the site will
be re-opened, or other means will be taken for thorough settlement.
Against such risks, on March 1, 2010, Jin Jiang International made a commitment to the
Company, saying if the Company failed to solve within the time limit stipulated in the schedule
in accordance with the proportion and number of set in the plan to solve the ownership of
leasing business outlets ohen flaw, the Company in the above three time points, respectively,
the project failed to achieve improvement ratio and number of leasing business outlets, to
terminate the lease, location opened again, Jin Jiang International will bear such terminate the
leasing business location to open stores again due to terminate the lease may cause the penalty
due to breach of contract, And according to the assets appraisal base date July 31, 2009
specific assets appraisal value to compensate. In addition, Jin Jiang International promised that
in the future business process, if the Jin Jiang Inn stores had to be reopened due to the above
defects site, is within one year from the date of the stores out of business, the property the
lessor fails to compensate all damages for the stores or failure to (specific losses in accordance
with the audit base date on July 31, 2009, the audit of the stores Fixed assets and decorate into
all of the initial investment cost, its asset appraisal base date on July 31, 2009 of assets
appraisal value calculated on the basis of the higher, Jinjiang international will immediately
make full compensation to the store for all the losses calculated in accordance with the above
method, which will be used to support the relocation and opening of the new store. After Jin
Jiang International makes the above compensation, the compensation for the property
leaseholder actually recovered belongs to jinjiang international. At the same time, Jin Jiang
International will provide the store with compensation according to the audited net profit
amount of the fiscal year prior to the store's closure, which will be used to make up for the
business loss during the store's closure.
24
2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
6. Risk of impairment on assets including goodwill and trademarkes etc.
The Company's acquisition of equity interests in GDL, Plateno Group, Vienna hotel and
Goldmet Inn, as well as the GDL's external acquisitions, may give rise to a large amount of
goodwill. According to relevant provisions of the Accounting Standards for Business
Enterprises, the merger of enterprises under different control of the composition of GDL,
Plateno Group, Vienna hotel and Goldmet Inn, the difference of the fair value share of
identifiable net assets of the target company is confirmed as goodwill. According to the
Accounting Standards for Business Enterprises, if goodwill is not amortized, it should be tested
at least at the end of each year. If the future operating conditions of luofeng group, platinum
tao group, Vienna hotel and jingguang express continue to deteriorate, there is a risk of
goodwill impairment, which will adversely affect the current and future earnings of the
Company.
The Company's principal business includes hotel service business in the form of accepting
chain franchise. The hotel brand owned by the Company has certain commercial value and
popularity, and these brands are regarded as intangible assets with uncertain service life. If the
recoverable amount of intangible assets such as trademarks and brands of the company is
lower than its book value, the book value of the asset shall be written down to the recoverable
amount, and the writedown will be recognized as the impairment loss of the asset, thus
adversely affecting the current and future earnings of the Company.
7. Risk concerning management of overseas operations
After the acquisition of GDL, the Company's business and assets are distributed in more than
60 countries and regions around the world. The Company's operating scale and total business
volume have increased significantly, and higher requirements will be put forward for its
personnel composition and management system. If the Company fails to optimize the existing
organizational model and management system in a timely manner according to the needs of
overseas business development, it may cause adverse impact on the operation and management
of the target company.
8. Outbreaks of infectious diseases and concerns about food safety
SARS, mad-cow disease, avian influenza or other highly contagious diseases, as well as
concerns about food safety in recent years in the world or in China, have caused and may cause
a significant decline in the number of tourists or dining out in the future.
9. Possible increase in the variation range of shareholders' equity and net assets'
yield rate of the Company
According to the Accounting Standards for Business Enterprises, the fair value of some
qualified financial assets should be determined on the basis of market price. The changes of the
fair value of these financial assets may increase the increase or decrease of accounting data and
financial indicators such as shareholders' equity and return on equity.
According to the Company's development strategy, limited service hotel operation and
management business has become the company's main business. These businesses are in a
period of rapid development and need matching funds to drive them. At the same time, as there
is a cycle of capital input and output, the length of the cycle is uncertain. If Net profit fails to
grow synchronously, the relevant roe may be diluted accordingly.
10. Risk of adverse effects on solvency
In order to meet the needs of acquisition and daily operating funds, the Company may increase
the amount of debt financing, and the asset-liability ratio may increase accordingly. Although
the overall structure of the Company's assets and liabilities is reasonable, the Company has a
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
good debt paying ability, and can meet the demand of the acquisition for its own capital, which
will not have a significant impact on the daily operation of the Company. However, as the
repayment source is mainly the cash flow generated by the Company's operating activities, if
the company's operating cash flow fails to meet the expectation, the Company's solvency may
be adversely affected.
11. Risk of changes in exchange rates and interest rates
The Company's business is distributed all over the world, and its daily operation involves
various foreign currency trading currencies such as EUR, GBP, USD, etc. The functional
currency of the consolidated financial statements of the Company is RMB, and the Company
will continue to take effective measures to reduce the impact of exchange rate fluctuations on
the Company's operation. However, with the constant change of exchange rate between RMB,
EUR, GBP, USD and other currencies in the future, it may still bring exchange rate risk to the
Company's future operation.
Part of the Company's financing comes from bank loans, which may be due or prepaid, or as the
company expands its business, it may need to apply to the bank for new loans to meet its
funding needs. Future changes in lending rates could affect the Company's financial expenses
and profitability.
12. Risk of loss of personnel in key positions
Our continued success depends largely on the senior management team and the highly trained
senior staff. If the Company is unable to attract and train enough experienced senior
management teams and senior staff in accordance with market conditions, it may have a
significant impact on the Company's profitability.
(III) Other disclosures
□Applicable √Not Applicable
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
Section V Significant Events
I. Brief description of the general meeting of shareholders
Query index for website
Date of disclosure
No. of meeting Date of commencement designated for the publish of
in the resolution published
resolution of the meeting
The General Meeting of
2018-05-25 www.sse.com.cn 2018-05-26
Shareholders for 2017
Description of general meeting of shareholders
□Applicable √Not Applicable
II. Profit distribution proposal / proposal of converting reserve into share capital
(I) Profit distribution proposal/ proposal of converting reserve into share capital drafted in the
interim
It is distributed / converted? No
Number of bonus shares per 10 shares (share)
Dividends distributed per 10 shares (in RMB) (tax included)
Number of shares converted per 10 shares (share)
Relevant explanation
III. Fulfillment of commitments
(I) Commitments in or sustain to the reporting period in shareholders, actual controllers,
directors, supervisors, senior management or other related parties
√Applicable □Not Applicable
Time and Is there a Whether
Background of Type of Committed term performance perform ed
Content of commitment
commitment commitment party of period? timely and
commitment strictly
In the asset replacement plan, 30 "Jin Jiang Inn" stores have a certain degree of ownership
defects in the rental properties that are included in the assets. In view of such risks and the
Company's planned settlement schedule, Jin Jiang International made a commitment to the
Company on 1 March 2010:
1） If the Company fails to solve within the time limit stipulated in the schedule in
accordance with the proportion and number of set in the plan to solve the ownership of leasing
business outlets ohen flaw (i.e. not in the China securities regulatory commission approved the
reorganization of 12 months from the date of reduced to 20%, or failure to reduce to 10% at
24 months, or failed to solve all in 36 months), the company in the above three time points,
Commitments Addressing respectively, the project failed to achieve improvement ratio and number of leasing business
related to defects in outlets, to terminate the lease, location opened again, Our company will be responsible for the
Jin Jiang
significant property liquidated damages that may occur due to the lease cancellation and re-location of the leased Permanent No Yes
International
asset rights such operation store, and will make compensation according to the specific asset appraisal value as
restructuring as land of July 31, 2009, the base date of asset appraisal.
2） In the operation process of placement assets in the future, such as "Jin Jiang Inn"
leasing business outlets flaws cause related store site had to be opened, is within one year
from the date of the stores out of business, the lessor fails to compensate the property or fail to
full compensation for the loss to the stores, jinjiang international will immediately according
to the following method to calculate the total loss to the stores give full compensation, used to
support the move to open new stores. The specific loss amount shall be calculated according
to the total initial investment cost of Fixed assets and renovation investment of the store
audited by nikkei on July 31, 2009 as at the base date of audit, and the higher asset appraisal
value as at July 31, 2009 as at the base date of asset appraisal. Jinjiang international will take
back the property after the above compensation.
Compensation to the lessor belongs to the lessor. At the same time, Jin Jiang International will
provide the store with compensation according to the audited amount of net profit for the
accounting year prior to the store's closure, which will be used to make up for the business loss
27
2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
during the store's closure.
Restructuring report disclosure: on 22 December 2009, Jin Jiang International promised Jin
Jiang Development, after the reorganization, it would provide full guarantee for all the money
and other financial assets of Jin Jiang Development and its subsidiaries which were deposited
Jin Jiang in Jin Jiang International Finance at the audit appraisal base date on 31 July 2009, and any
Others Permanent No Yes
International amounts and other financial assets subsequently deposited in Jin Jiang International Finance. If
Jin Jiang International Finance fails to pay the principal and interest of the deposits and other
financial assets of Jin Jiang Development and its subsidiaries, Jin Jiang International will pay
on behalf of Jin Jiang International Finance immediately.
On 28 August 2009, Jin Jiang Hotels Group issued the "Transaction counterparties'
committment to avoid horizontal competition", promising that Jin Jiang Hotels Group and the
companies controlled by it (excluding Jin Jiang Development and its subsidiaries, the same
below) would not engage in any business that has or may have competition with the business
Jin Jiang
of Jin Jiang Development. If business activities of Jin Jiang Hotels Group and the companies
Others Hotels Permanent No Yes
controlled by it after completion of the reorganization may compete or have conflict of interest
Group
with Jin Jiang Development in the future, it will give up or enforce its controlling companies to
give up on any business activity that may compete or have conflict of interest with Jin Jiang
Development, or to inject such business into Jin Jiang Development in a fair market price, at a
appropriate time.
IV. Employment and dismissal of the accounting firm
Explanation of employment and dismissal of the accounting firm
□Applicable √Not Applicable
Explanation for changing the accounting firm in the audit period
□Applicable √Not Applicable
The Company's explanation regarding "a non-standard audit report" issued by the accounting
firm.
□Applicable √Not Applicable
The Company's explanation regarding "a non-standard audit report" opinion for the financial
statements in the annual report of the prior year issued by the certified public accountant.
□Applicable √Not Applicable
V. Matters relating to bankruptcy reorganization
□Applicable √Not Applicable
VI. Significant lawsuits and arbitrations
□ Significant lawsuits and arbitrations for the year √ No significant lawsuits and arbitrations
for the year
VII. The penalty and rectification of listed Company and its directors, supervisors, senior
management, controlling shareholders, actual controllers and acquirer
□Applicable √Not Applicable
VIII. The integrity explanation of the Company and its controlling shareholder, the actual
controller in the reporting period
□Applicable √Not Applicable
IX. Situation and influence of the Company stock-based compensation plan, employee stock
ownership plan or other employee incentive methods
28
2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
(I) Relevant incentive events have been disclosed in temporary announcements but made
no progress or had no change in subsequent implementation
□Applicable √Not Applicable
(II) Incentive events that haven't been disclosed in temporary announcements or have
subsequent progress
Equity interest incentive events
□Applicable √Not Applicable
Other
□Applicable √Not Applicable
Employee stock ownership plan
□Applicable √Not Applicable
Other employee incentive methods
□Applicable √Not Applicable
X. Significant related transaction
(I) Related transactions concerning daily operation
1. Events which has been disclosed in temporary announcements but made no progress or
had no change in subsequent implementation
□Applicable √Not Applicable
2. Events which has not been disclosed in temporary announcements but made progress or
had change in subsequent implementation
√Applicable □Not Applicable
During the reporting period, the Company was entrusted to operate the branch of Metropole
Hotel, the branch of New Asia Hotel and Marvel Hotel Shanghai of Jin Jiang Hotels Group,
and cumulatively paid a total of RMB 20.592 million for the operation. The Company leased
Shanghai Hua Ting Guest House and Shanghai Magnotel Hotel, and paid relevant rental fees of
RMB 8.7360 million in total, and paid to Jin Jiang Hotels Group, Marvel Hotel Shanghai,
Shanghai Hua Ting Guest House Co., Ltd.and Shanghai Magnotel Hotel labor remuneration
and social insurance premiums of the relevant personnel amounting to RMB 3, 0147,800.
3. Events which has not been disclosed in temporary announcements
√Applicable □Not Applicable Unit: RMB
Description of Basis of Proportion to the
Connected Type of Transaction
Relationship related party detrmining Transction amount amount of similar Settlement method
trading party transaction pricing
transaction prices transactions (%)
Jin Jiang
The ultimate holding Limited service
International and Rendering of
company and its hotel management Market price 0.06 Cash
its subordinate services 334,701. 71
holding subsidiaries fee income
enterprises
Jin Jiang Limited service
The ultimate holding Rendering of
International and hotel room fee
company and its services Market price 100.00 Cash
its subordinate accounting service 19,460,195.76
holding subsidiaries
enterprises income
Jin Jiang The ultimate holding Rendering of Membership gift
International and company and its services package plan and Market price 100.00 Cash
18,360,926.61
its subordinate holding subsidiaries promotion services
29
2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
enterprises
Jin Jiang
The ultimate holding Rendering of Limited service
International and
company and its services hotel's sales of Market price 0.40 Cash
its subordinate 159,795.35
holding subsidiaries hotel goods
enterprises
Jin Jiang
International, Jin The ultimate holding
Jiang Hotels Group company, the parent
Sales of goods Sales of food Market price 15.42 Cash
and the company and its 1,499,735.67
subordinate hotel holding subsidiaries
service enterprises
Jin Jiang
The ultimate holding
International, Jin
company, the parent Purchase of hotel
Jiang Hotels Group
company and its Sales of goods commodities and Market price 0.23 Cash
and the 745,999.68
holding subsidiaries, food
subordinate hotel
and associates
service enterprises
Jin Jiang
The ultimate holding
International and Purchase of Membership gift
company and its Market price 100.00 Cash
its subordinate goods package 2,169,810.18
holding subsidiaries
enterprises
Jin Jiang
The ultimate holding
International and Receipts of Booking service
company and its Market price 6.95 Cash
its subordinate services charge 5,685,351. 83
holding subsidiaries
enterprises
Jin Jiang
The ultimate holding
International and Receipts of Technical system
company and its Market price 100.00 Cash
its subordinate services service charges 5,340,686.18
holding subsidiaries
enterprises
Total / / 53,757,202.97 4.59 /
Necessity and sustainability for these related party transactions(non-market The Company provides limited service hotel management for Jin Jiang Hotels Group and subordinate
other transaction) and reasons for choosing of these related parties hotel service enterprises of Jin Jiang International, mainly for the purpose of expanding market share.
The Company's connected transaction agreements related to daily operations have been submitted to
Description of connected transactions and approved by the 13th meeting of the 8th session of the board of directors held on 29 March 2016.
(submitted every three years)
(II) Connected transactions occurred due to assets acquisition, acquisition or sales of equity
1. Events which has been disclosed in temporary announcements and made no progress
or had no change in subsequent implementation
√Applicable □Not Applicable
Summary and type of event Query index
On 20 October 2017, the Company signed the "share Please refer to the Announcement on the Acquisition
transfer agreement" with Prototal, and purchased the of Minority Interests of the Holding Subsidiary and
share of Keystone (12.0001%) held by Prototal. As the Connected Transaction (Announcement No.:
agreed by both parties, the transaction price is RMB 2017-039) disclosed by the Company on 21 October
1,204,778,376.39 (including tax on the conversion of 2017.
shares).
The deal closed on 12 January 2018. Upon Please refer to the Announcement on the Completion
completion, the Company's equity ratio of Keystone of Delivery regarding Acquisition of Minority
rose to 93.0035% from 81. 0034%. Interests of the Holding Subsidiary and the
Connected Transaction (Announcement No.:
2018-001) disclosed by the Company on 13 January
2018.
2. Events which has been disclosed in temporary announcements but made progress or
had change in subsequent implementation
□Applicable √Not Applicable
3. Events which has not been disclosed in temporary announcements
□Applicable √Not Applicable
4. Performance achievement events involving in performance convention in reporting
period which should be disclosed
□Applicable √Not Applicable
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
(III) Significant related transaction of external joint investments
1. Events which has been disclosed in temporary announcements and made no progress or
had no change in subsequent implementation
□Applicable √Not Applicable
2. Events which has been disclosed in temporary announcements but made progress or
had change in subsequent implementation
□Applicable √Not Applicable
3. Events which has not been disclosed in temporary announcements
□Applicable √Not Applicable
(IV) Related creditor's rights and liabilities
1. Events which has been disclosed in temporary announcements and made no progress
or had no change in subsequent implementation
□Applicable √Not Applicable
2. Events which has been disclosed in temporary announcements but made progress or
had change in subsequent implementation
□Applicable √Not Applicable
3. Events which has not been disclosed in temporary announcements
□Applicable √Not Applicable
(V) Other significant related party transaction
□Applicable √Not Applicable
(VI) Others
√Applicable □Not Applicable
The Company deposited part of the settlement funds or idle funds into Jin Jiang International
Group Finance Co., Ltd. (approved non-bank financial institutions). The opening balance was
RMB 1,466.35 milion and the balance at the end of the reporting period was RMB 1,481.75
million. Relevant deposit resolutions to the financial company were reviewed and approved in
2017 Annual General Meeting of Shareholders of the Company held on 25 May 2018: The
maximum ceiling of the Company's estimated deposit balance in Jin Jiang International Group
Finance Co., Ltd. for 2018 is not more than RMB 1.5 billion. In the first half of 2018, the
corresponding deposit interest income was RMB 6.82 million.
The Company borrowed from its subordinate company, Jin Jiang International Group Finance
Co., Ltd., with opening balance and closing balance of borrowings respectively amounting to
RMB 244.44 million and RMB 550.94 million. Relevant borrowing resolutions from the
financial company were reviewed and approved in 2017 Annual General Meeting of
Shareholders of the Company held on 25 May 2018: The maximum ceiling of the Company's
estimated loans from Jin Jiang International Group Finance Co., Ltd. for 2018 is not more than
RMB 2 billion. In the first half of 2018, the corresponding interest expenses on borrowings
incurred was RMB 12.66 million. Article 12 of the Chapter III of the Articles of Association of
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
Jin Jiang International Group Finance Co., Ltd. stipulates: "In the event of an emergency in
which the Company has difficulties in payment, the Board of Directors of Jin Jiang
International (Holdings) Co., Ltd. promises to urge Shanghai Jin Jiang International Hotel
(Group) Co., Ltd. to increase the corresponding capital based on the actual needs to solve the
payment difficulties."
In order to ensure security and independency of the Company's deposits in the financial
company of the Group, the actual controller of the Company, Jin Jiang International (Holdings)
Co., Ltd., made the following comittments on 22 December 2009:
"On the premise that the reorganization is approved and implemented, you and your
subsidiaries will be fully guaranteed with respect to all funds and other financial assets
deposited with Jin Jiang Finance and any subsequent funds and other amount assets deposited
with Jin Jiang Finance on 31 July 2009, the base date of the audit evaluation. If Jin Jiang
Finance fails to pay the principal and interest of deposits and other financial assets to you and
your subsidiaries, we will make the payment immediately. You and Jin Jiang finance shall
follow the voluntary principle and make independent decisions. We promise not to adopt any
methods to make unified requirements for your company's fund storage and other businesses in
Jin Jiang Finance, and interfere with your normal decision-making, so as to guarantee your
financial independence and fund security. For this purpose, you shall make timely disclosure of
the above deposits and guarantees (including regular disclosure and timely disclosure of major
information in periodic reports) in accordance with relevant regulations. "
XI. Signifcant contracts and performance of contractual obligations
1. Trusting, contracting and leasing
□Applicable √Not Applicable
2. Guarantees
√Applicable □Not Applicable
Unit: 0'000 Currency: RMB
Exteranl guarantees provided by the Company (guarantees provided to subsidiaries excluded)
Relationship Date of Whether
The
between the guarantee execution Whether Whether it
Inception Expiration Type amount Related
guarantor Guaranteed Guaranteed (the date of guarantee Whether there is is a
Guarantor date of date of of of party
and the party amount of entering guarantee is counter-guarantee related-party
guarantee guaranteeguarantee guarantee relationship
listed into the has been overdue guarantee
overdue
company agreement) completed
Total guaranteed amount incurred during the reporting period (guarantees
provided to subsidiaries excluded)
Total closing balance of guaranteed amount (A) (guarantees provided to
subsidiaries excluded)
Guarantees provided to subsidiaries by the Company
Total guaranteed amount provided to subsidiaries incurred during the 0
reporting period
Total closing balance of guaranteed amount provided to subsidiaries (B) 116,000
Total guarantees provided by the Company(guarantees provided to subsidiaries included)
Total guaranteed amount (A+B) 116,000
The proportion of the total guaranteed amount to net assets of the 9.49
Company (%)
Including:
Guaranteed amount provided to shareholders, the actual controller and
0
related parties (C)
Guaranteed amount for debts which is directly or indirectly provided for
0
those whose debt asset ratio exceeds 70% (D)
The portion of guaranteed amount of which the total amount exceeds 0
50% of the net assets (E)
Total guaranteed amount of the three items mentioned above (C+D+E) 0
Description of unexpired guarantees which may be subject to joint
32
2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
liability
Description of guarantees
3. Other significant contracts
□Applicable √Not Applicable
XII. Poverty alleviation by listies companies
□Applicable √Not Applicable
XIII. Convertible company bonds
□Applicable √Not Applicable
XIV. Environmental information
(I) Environmental protection description of key companies on the list of environmental-proection
departments due to their pollutant emission and their material subsidiaries
□Applicable √Not Applicable
(II) Environmental protection description of companies excluded on the list of pollutant emission
√Applicable □Not Applicable
The Company is responsible for the society and actively takes measures to reduce energy
consumption and reduce pollution emissions, and promote sustainable development of
enterprises.
In terms of new construction and renovation of properties, the Company requires all hotels to
adopt active energy-saving and emission-reduction measures to reduce environmental impacts
during construction and later operations. Jin Jiang Inn established the "Engineering Model
Handbook" to strengthen the green energy conservation and environmental protection
standards for new and renovated hotels.
In terms of hotel operations, the Company strictly abides by the relevant environmental laws
and regulations such as the Environmental Protection Law of the People's Republic of China
and the Energy Conservation Law of the People's Republic of China, and formulates and
implements the Environmental Protection Management Regulations and the Energy
Conservation Management Regulations. The Company strengthens the management of
environmental impacts such as noise, emissions, greenhouse gases and sewage. The noise
comes from all the wind turbines, equipment room, water tower and boiler. The company
adopts noise reduction method, sound insulation method, sound absorption method and other
advanced methods, and tries to use low noise equipment. The exhaust gas is mainly the exhaust
gas generated during the combustion process of the boiler, as well as the discharge of kitchen
waste gas and automobile exhaust gas. The boiler is mainly used to improve combustion, so
that all combustible materials in the fuel are burned out, and various types of fly ash after burnt
are used. Dust removal means (such as cyclone, multi-tube, wet dust removal, etc.) are
eliminated, and the kitchen exhaust gas and automobile exhaust gas are removed according to
the technical requirements of relevant industry departments. In regard of greenhouse gases, the
Company actively adopts energy-saving measures, applies energy-saving technologies, and
reduces energy consumption to reduce greenhouse gas emissions. Sewage, mainly domestic
sewage discharged by enterprises, is discharged according to national standards. Some hotels
are directly discharged after treatment. Some hotels are discharged to the municipal pipe
network after being treated by sewage treatment equipment. The Company sets and releases
energy consumption plans, various energy-saving indicators and assessment requirements
every year. Each energy-using enterprise establishes and improves the responsibility system for
energy-saving targets of leaders and departments at all levels, decomposes them at various
levels, and takes measures to ensure the achievements of various energy-saving targets. All
energy-using enterprises should select products and equipment with high energy utilization
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
efficiency and low energy consumption, as well as corresponding service methods and service
items under the premise of ensuring safety and service functions. Each energy-using enterprise
conducts regular evaluations of energy-saving work and commends or criticizes it based on the
results of the evaluation. Energy-using propaganda, education and training should be actively
carried out for all energy-using enterprises to enhance the awareness of energy conservation
among employees at all levels.
(III) Reasons for not disclosing environmental information by companies excluded on the list of
pollutant emission
□Applicable √Not Applicable
(IV) Decription of follow-ups and changes subsequent to disclosure of environmental information
during the reporting period
□Applicable √Not Applicable
XV. Other significant events
(I) Changes in accounting policies, estimates and methods, and relevant reasons for and effect of
such changes
√Applicable □Not Applicable
Remarks
Changes in accounting policies (Names and amounts of items in the financial statements which are
and reasons for such changes significantly affected)
On 15 June 2018, the Ministry Purstant to requirments in the Notice of the Revised Format of 2018
of Finance released the Notice of Financial Statements for General Business Enterprise, former items of
the Revised Format of 2018 "notes receivable" and "accounts receivable" were collectively
Financial Statements for presented under the new line item of "notes and accounts receivable";
General Business Enterprise former items of "interest receivable" and "dividends receivable" were
(Caikuai [2018]15). The collectively presented under "other receivables"; former items of
Company as a non-financial "disposal of fixed assets" are presented under "fixed assets"; former
enterprise applying the items of "materials for construction of fixed assets" are presented under
Accounting Standards for "construction in progress"; former items of "notes payable" and
Business Enterprises ("ASBE") "accounts payable" were collectively presented under the new line item
without application of the New of "notes and accounts payable"; former items of "interest payable" and
Financial Standard and the New "dividends payable" were presented under "other payables"; research
Revenue Standard shall prepare and development expenditure formerly included in "administrative
the financial statements in expenses" were broken down and presented separately, with an
accordance with ASBE and additional line item of "research and development expenditure"; items
Appendix I of the Notice. of "including: interest expenses/income" were added under "financial
expenses" line item, while places of certain items in the income
statement were adjusted. The Company applied retrospective adjument
approach to account for the above changes in presenting items and
adjusted comparative figures of the prior year.
(II) Significant corrections of accounting errors incurred in the reporting period requiring
retrospective restatement, amount of corrections, reasons for corrections and relevant effect of
corrections
□Applicable √Not Applicable
(III) Others
□Applicable √Not Applicable
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
Section VI Changes in Ordinary Shares and Particulars about Shareholders
I. Changes in share capital
(I) Statement of changes in shares
1. Statement of changes in shares
During the reporting period, there was no change of shares and share structure.
2. Description on changes in shares
□Applicable √Not Applicable
3. Effect of changes in shares on financial indicators such as earnings per share and net asset per share for the
period after reporting period but before the disclosure date of half-year statements (if any)
□Applicable √Not Applicable
4. Other descriptions that are considered necessary by the Company or required by securities regulator for
disclosure
□Applicable √Not Applicable
(II) Changes in restricted shares
□Applicable √Not Applicable
II. Particulars about shareholders
(I) Number of shareholders:
43,567 (Including: 18,710 shareholders for
Total number of shareholders at the end of reporting period
A Share and 24,857 for B Share)
Total number of shareholders of preference shares with voting
right restored before the end of reporting period
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2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
(II)Particulars about shares held by the top ten shareholders and top ten floating shareholders (or shareholders holding shares not subject to trading moratorium) at the
reporting period
Unit: share
Particulars about shares held by the top ten shareholders
Increase/decrease Number of Amount of pledged or frozen shares
Name of shareholder (full name) during the Total shares held Ratio (%) non-tradable shares Nature of shareholder
reporting period held Shares state Amount
Shanghai Jinjiang International Hotels (Group) Co., Ltd. 482,007,225 50.32 77,196,290 Naught State-owned corporation
HongYi (Shanghai) Investment Fund Center LLP -2,311,600 118,014,376 12.32 20,325,976 Pledge 110,746,611 Foreign corporation
China Great Wall Asset Management Co., Ltd. -2,800 15,244,482 1. 59 15,244,482 Naught State-owned corporation
Shanghai Guosheng (Group) Investment Co., Ltd. 15,244,482 1. 59 15,244,482 Naught State-owned corporation
Domestic
HuaAn Future Asset－ICBC－Anxin Trust Co., Ltd. 15,244,482 1. 59 15,244,482 Naught non-state-owned
corporation
INVESCO FUNDS SICAV 10,521,626 1. 10 Unknown Foreign corporation
Shanghai International Group Asset Management Co., Ltd. 10,162,988 1. 06 10,162,988 Naught State-owned corporation
Industrial and Commercial Bank of China Co., Ltd. - CSCI
-307,260 4,508,075 0.47 Naught Others
Exchange-traded Funds (ETF) for Shanghai State-owned Enterprises
Hong Kong Securities Clearing Company Ltd. -10,271,270 4,409,521 0.46 Naught Unknown
INVESCO PERPETUAL HONG KONG & CHINA FUND 4,241,647 0.44 Unknown Foreign corporation
Particulars about shares held by the top ten shareholders holding shares not subject to trading moratorium
Type and amount of shares
Name of shareholder Number of tradable shares held
Type Amount
Shanghai Jinjiang International Hotels (Group) Co., Ltd. 404,810,935 RMB ordinary share 404,810,935
HongYi (Shanghai) Investment Fund Center LLP 97,688,400 RMB ordinary share 97,688,400
INVESCO FUNDS SICAV 10,521,626 Domestically listed foreign shares 10,521,626
Industrial and Commercial Bank of China Co., Ltd. - CSCI Exchange-traded Funds (ETF)
4,508,075 RMB ordinary share 4,508,075
for Shanghai State-owned Enterprises
Hong Kong Securities Clearing Company Ltd. 4,409,521 RMB ordinary share 4,409,521
INVESCO PERPETUAL HONG KONG & CHINA FUND 4,241,647 Domestically listed foreign shares 4,241,647
NORGES BANK 3,579,513 Domestically listed foreign shares 3,579,513
VANGUARD EMERGING MARKETS STOCK INDEX FUND 3,292,550 Domestically listed foreign shares 3,292,550
The Bank of Korea – Self-owned funds 3,073,393 RMB ordinary share 3,073,393
BOCI SECURITIES LIMITED 2,990,257 Domestically listed foreign shares 2,990,257
INVESCO FUNDS SICAV and INVESCO PERPETUAL HONG KONG & CHINA FUND belongs to Invesco Investment
Description on associated relationship or persons acting in concert among the Management Co., Ltd. (INVESCO). In addition, the company is not aware of whether there is an associated relationship between
above-mentioned shareholders other shareholders or a person acting in concert as stipulated in the Measures for the Administration of Information Disclosure of
Changes in Shareholders' Shareholding in Listed Companies.
Description on preferred stockholders and shareholdings with voting rights restored
36
2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
Shares holding amount by the top ten shareholders and the restricted condition
√Applicable □Not Applicable
Unit: share
Particulars of non-tradable shares that can be traded on the market
Name of shareholder holding shares subject to trading Number of non-tradeable
Number Amount of new-added Publicly Non-tradable condition
moratorium shares held Publicly traded time
traded shares
Shanghai Jinjiang International Hotels (Group) Co., Ltd. Prohibit transferring within 36 months after closing
1 77,196,290 2019-08-05
date of issuance
HongYi (Shanghai) Investment Fund Center LLP Prohibit transferring within 36 months after closing
2 20,325,976 2019-08-05
date of issuance
Prohibit transferring within 36 months after closing
3 China Great Wall Asset Management Co., Ltd. 15,244,482 2019-08-05
date of issuance
Prohibit transferring within 36 months after closing
4 Shanghai Guosheng (Group) Investment Co., Ltd. 15,244,482 2019-08-05
date of issuance
HuaAn Future Asset - ICBC - Anxin Trust Co., Ltd. Prohibit transferring within 36 months after closing
5 15,244,482 2019-08-05
date of issuance
Shanghai International Group Asset Management Co., Prohibit transferring within 36 months after closing
6 10,162,988 2019-08-05
Ltd. date of issuance
Explanation on related party relationship or/and consistent actions by "HuaAn Future Asset - ICBC - Anxin Trust Co., Ltd." products are managed by HuaAn Asset Management; Shanghai Jin Jiang International Investment
the above-mentioned shareholders Management Co., Ltd., which is controlled by the same ultimate controlling party with Jin Jiang Hotels Group, held 20% shares of HuaAn Fund
Management Co., Ltd, a controlling shareholder of HuaAn Asset Management. Therefore, Jin Jiang Hotels Group has a relationship with HuaAn Asset
Management. Whether there is any relationship between the other shareholders of unknown companies or the persons acting in concert as stipulated in the
Measures for the Administration of Information Disclosure of Changes in Shareholders' Shareholding in Listed Companies.
(III).Strategic investors or general legal person who have been included in top 10 shareholders due to placement of new shares.
□Applicable √Not Applicable
III. Particulars about the controlling shareholder and actual controller
□Applicable √Not Applicable
37
2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
Section VII Particulars about Preference Shares
□Applicable √Not Applicable
38
2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
Section VIII Directors, Supervisors, Senior Management Staff
I. Changes in shareholdings
(I). Changes in shareholdings of the current directors, supervisors and senior management staff,
as
well as those leaving during the reporting period
□Applicable √Not Applicable
(II) Equity incentives granting of the directors, supervisors and senior management staff during
the reporting period
□Applicable √Not Applicable
II. Particulars about changes in the directors, supervisors and senior management staff of the
Company
√Applicable □Not Applicable
Name Position Change
Lu Zhenggang Director Resignation
Yang Shaofeng Vice President Resignation
Description on particulars about changes in the directors, supervisors and senior management
staff of the Company
√Applicable □Not Applicable
Mr. Lu Zhenggang resigned as a director of the Company's eighth board of directors due to his
retirement.
III. Other descriptions
□Applicable √Not Applicable
39
2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
Section IX Information about Company Bond
□Applicable √Not Applicable
40
2018 Interim Report of Shanghai Jin Jiang International Hotels Development Co., Ltd.
Section X Financial Report
The financial statements for the period ended 30 June 2018 prepared in accordance with Accounting
Standards for Business Enterprises are reviewed by Deloitte Touche Tohmatsu CPA LLP who issued a
reviewer's report with unqualified opinion for these financial statements (De Shi Bao (Yue) Zi (18)
No.(R00082).
(I) Review Report (attached)
(II) Financial Statements(attached)
(III) Notes to the Financial Statements(attached)
41
Section XI Document for Reference
Accounting statements with the signatures and stamps of legal representative,
person in charge of the accounting body, chief accountant
List of Documents
Available For Inspection Original copy of all company files disclosed on Shanghai Securities News and
Takungpao in the reporting period.
Chairman of the Board: Yu Minliang
The approval and authorization date by the board: 29 August 2018
42
REVIEW REPORT
De Shi Bao (Yue) Zi (18) No.R00082
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 Company's and consolidated balance sheets as at 30 June 2018, and
the Company's and consolidated income statements, the Company's and consolidated cash flow statements and the
Company's and consolidated statements of changes in shareholders' equity for the period from 1 January 2018 to 30
June 2018, as well as he notes to the financial statements. The Company’s management is responsible for the
preparation of these financial statements. Our responsibility is to express a review report on these financial
statements based on our review.
We conducted our review in accordance with China Certified Public Accountants Reviewing Standards No.2101.
Reviewing Standards which requires that we plan and perform a review to obtain reasonable assurance as to whether
the financial statements are free of material misstatement and provide a conclusion in a negative way. A review is
mainly limited to making inquiries to the relevant personnel and applying analytic procedures to the financial data,
so it provides an assurance degree less than that of audit. We did not implement audit, so we do not express an audit
opinion.
Based on our review, nothing has come to our attention that causes us to believe that the financial statements are not
prepared and do not reflect the reviewee’s financial status, the results of operations and cash flows fairly in all
material respects, in accordance with Accounting Standards of Business Enterprises.
Deloitte Touche Tohmatsu CPA LLP Chinese Certified Public Accountant:
Shanghai, China
Tang Lianjiong
Hua Sheng
29 August 2018
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.
43
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
AT 30 JUNE 2018
CONSOLIDATED BALANCE SHEET
RMB
Item Note 30 June 2018 31 December 2017 Item Note 30 June 2018 31 December 2017
Current Assets: Current Liabilities:
Cash and bank balances (V) 1 6,522,070,090.94 9,883,050,065.07 Short-term borrowings (V) 17 25,435,102.87 1,015,833,514.18
Notes receivable and accounts receivable (V) 2 1,072,546,941.74 940,027,901.79 Derivative financial liabilities 3,564,106.96 4,391,173.45
Advances to suppliers (V) 3 293,910,386.50 327,214,714.29 Notes payable and accounts payable (V) 18 2,031,379,121.43 2,137,025,018.83
Other receivables (V) 4 579,752,802.73 903,597,885.82 Advances from customers (V) 19 946,983,434.38 873,224,463.95
Inventories (V) 5 81,703,430.04 75,603,674.66 Employee benefits payable (V) 20 888,522,831.06 910,976,609.47
Held-for-sale assets - 9,194,045.82 Taxes payable (V) 21 410,370,154.86 410,111,158.48
Other current assets (V) 6 350,537,695.22 270,675,579.51 Other payables (V) 22 1,655,713,828.04 1,316,321,357.04
Non-current liabilities
(V) 23 617,831,418.95 270,685,433.89
due within one year
Total Current Assets 8,900,521,347.17 12,409,363,866.96 Total current liabilities 6,579,799,998.55 6,938,568,729.29
Non-current Assets Non-current Liabilities:
Available-for-sale financial assets (V) 7 1,084,896,368.37 1,108,918,310.79 Long-term borrowings (V) 24 16,612,062,893.81 18,996,766,220.93
Long-term equity investments (V) 8 361,116,363.48 416,518,594.99 Long-term payables (V) 25 265,824,599.39 255,256,905.93
Fixed assets (V) 9 6,515,231,160.20 6,747,317,643.86 Long-term employee benefits payable (V) 26 64,870,080.23 59,112,683.77
Construction in progress (V) 10 718,742,111.22 679,151,417.17 Provisions (V) 27 56,301,477.80 58,598,004.21
Intangible assets (V) 11 7,335,935,336.23 7,472,301,178.78 Deferred tax liabilities (V) 14 2,295,990,625.21 2,434,472,013.64
Goodwill (V) 12 11,301,268,832.00 11,348,072,548.12 Other non-current liabilities (V) 28 149,356,343.22 201,184,640.33
Long-term prepaid expenses (V) 13 2,537,278,375.00 2,672,827,684.75 Total Non-current Liabilities 19,444,406,019.66 22,005,390,468.81
Deferred tax assets (V) 14 593,993,799.49 614,997,931.92 TOTAL LIABILITIES 26,024,206,018.21 28,943,959,198.10
Other non-current assets (V) 15 89,732,567.30 90,227,114.10
SHAREHOLDERS' EQUITY:
Total Non-current Assets 30,538,194,913.29 31,150,332,424.48 Share capital (V) 29 957,936,440.00 957,936,440.00
Capital reserve (V) 30 8,043,687,495.85 8,710,565,290.98
Other comprehensive income (V) 31 459,595,945.87 496,729,741.73
Surplus reserve (V) 32 653,878,905.35 653,878,905.35
Retained profits (V) 33 2,132,156,983.74 2,165,192,559.23
Total owners’ equity attributable to
12,247,255,770.81 12,984,302,937.29
the equity holders of the Company
Non-controlling interests 1,167,254,471.44 1,631,434,156.05
TOTAL SHAREHOLDERS' EQUITY 13,414,510,242.25 14,615,737,093.34
TOTAL LIABILITIES AND
TOTAL ASSETS 39,438,716,260.46 43,559,696,291.44 39,438,716,260.46 43,559,696,291.44
SHAREHOLDERS' EQUITY
The accompanying notes form part of the financial statements.
Legal Representative: Yu Minliang Chief Financial Officer: Shen Li Person in Charge of the Accounting Body:Wu Lin
44
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
AT 30 JUNE 2018
COMPANY'S BALANCE SHEET
RMB
Item Note 30 June 2018 31 December 2017 Item Note 30 June 2018 31 December 2017
Current Assets: Current Liabilities:
Cash and bank balances (XIV) 1 1,164,502,942.97 4,948,403,936.97 Short-term borrowings (XIV) 15 - 1,000,000,000.00
Notes receivable and Notes payable and
(XIV) 2 20,870,199.82 18,182,319.08 62,168,859.85 95,884,824.24
accounts receivable accounts payable
Advances to suppliers 1,060,008.99 849,814.26 Advances from customers 4,880,513.80 9,843,291.67
Other receivables (XIV) 3 305,445,950.61 530,275,324.76 Employee benefits payable (XIV) 16 21,629,611.54 27,106,987.93
Inventories (XIV) 4 3,524,528.96 3,516,685.46 Taxes payable (XIV) 17 4,294,220.61 8,947,785.18
Other current assets (XIV) 5 3,615,249.27 6,383,549.81 Other payables (XIV) 18 326,150,530.10 183,305,020.56
Non-current liabilities
(XIV)19, 20 335,695,200.00 220,695,200.00
due within one year
Total Current Assets 1,499,018,880.62 5,507,611,630.34 Total current liabilities 754,818,935.90 1,545,783,109.58
Non-current Assets: Non-current Liabilities:
Available-for-sale financial assets 317,209,289.94 532,874,140.15 Long-term borrowings (XIV) 19 5,819,000,000.00 7,739,000,000.00
Long-term receivables (XIV) 6 10,328,000.00 10,328,000.00 Deferred tax liabilities (XIV) 13 49,651,075.64 98,694,929.07
Long-term equity investments (XIV) 7 15,613,699,944.70 14,466,016,952.62 Other non-current liabilities (XIV) 20 3,429,800.00 3,760,350.00
Fixed assets (XIV) 8 94,133,537.22 94,978,011.07 Total non-current liabilities 5,872,080,875.64 7,841,455,279.07
Construction in progress (XIV) 9 25,310,029.35 60,159,254.99 TOTAL LIABILITIES 6,626,899,811.54 9,387,238,388.65
Intangible assets (XIV) 10 51,273,553.77 52,456,213.95 SHAREHOLDERS' EQUITY:
Long-term prepaid expenses (XIV) 11 214,052,988.92 200,934,981.79 Share capital 957,936,440.00 957,936,440.00
Other non-current assets (XIV) 12 210,000,000.00 250,000,000.00 Capital reserve 9,189,446,079.42 9,189,446,079.42
Other comprehensive income (XIV) 21 175,176,449.25 324,128,412.57
Total Non-current Assets 16,536,007,343.90 15,667,747,554.57 Surplus reserve (XIV) 22 653,878,905.35 653,878,905.35
Retained profits 431,688,538.96 662,730,958.92
TOTAL
11,408,126,412.98 11,788,120,796.26
SHAREHOLDERS' EQUITY
TOTAL LIABILITIES AND
TOTAL ASSETS 18,035,026,224.52 21,175,359,184.91 18,035,026,224.52 21,175,359,184.91
SHAREHOLDERS' EQUITY
Legal Representative: Yu Minliang Chief Financial Officer: Shen Li Person in Charge of the Accounting Body:Wu Lin
45
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
CONSOLIDATED INCOME STATEMENT
RMB
Period from Period from
Item Note 1 January 2018 to 1 January to
30 June 2018 30 June 2017
I. Operating income (V) 34 6,939,349,148.33 6,289,013,150.53
Less: Operating costs (V) 34, 35 701,145,623.29 603,775,121.43
Taxes and levies (V) 36 111,967,842.68 106,615,468.76
Selling expenses (V) 35 3,711,452,919.06 3,631,647,717.77
Administrative expenses (V) 35 1,806,991,998.53 1,512,207,360.64
R&D expenses (V) 35 1,531,727.05 -
Financial expenses (V) 37 201,118,367.52 218,769,598.00
Including: Interest expenses 260,142,174.91 297,470,093.36
Interest income 97,897,663.01 120,393,846.73
Impairment losses of assets (V) 38 39,728,669.85 13,767,386.24
Add: Other income (V) 39 25,379,329.13 18,100,017.83
Investment income (V) 40 235,876,720.30 261,207,062.43
Including: Gains from investment in associates and joint ventures 66,728,054.64 53,411,404.56
Gains from changes in fair values (V) 41 12,845,935.20 -
Income from disposal of assets (losses) (V) 42 76,005,404.64 (13,985,068.85)
II. Operating profit 715,519,389.62 467,552,509.10
Add: Non-operating income (V) 43 26,710,189.68 11,844,701.32
Less: Non-operating expenses (V) 44 5,280,081.73 9,530,678.49
III. Total profit 736,949,497.57 469,866,531.93
Less: Income tax expenses (V) 45 164,437,152.55 18,794,301.05
IV. Net profit 572,512,345.02 451,072,230.88
Including: Net profit from continuing operations 572,512,345.02 451,072,230.88
Net profit attributable to the owners of the Company 503,408,830.91 412,453,689.41
Profit or loss attributable to non-controlling interests 69,103,514.11 38,618,541.47
V. Other comprehensive income (loss), net of tax (V) 31 (31,393,154.69) (43,184,101.50)
Other comprehensive income (loss) attributable to owners of the
(37,133,795.86) (52,842,589.32)
Company, net of tax
(I) Other comprehensive income (loss) that cannot be reclassified
- -
subsequently to profit or loss
Changes as a result of premeasurement of the net defined benefit plan
- -
liability or asset
(II) Other comprehensive income (loss) that will be reclassified
(37,133,795.86) (52,842,589.32)
subsequently to profit or loss
1. Shares of other comprehensive income that will be reclassified
126,458.24 186,422.60
subsequently into profit or loss by the investee under equity method
2. Profit or loss arising from changes in fair value of available-for-sale
3,184,824.00 (104,218,024.33)
financial assets
3. Effective proportion of profit or loss of cash flow hedging 459,580.04 829,597.00
4. Translation differences of financial statements denominated in foreign
(40,904,658.14) 50,359,415.41
currency
Other comprehensive income (loss) attributable to non-controlling
5,740,641.17 9,658,487.82
interests, net of tax
VI. Total comprehensive income 541,119,190.33 407,888,129.38
Comprehensive income attributable to owners of the Company 466,275,035.05 359,611,100.09
Comprehensive income attributable to non-controlling interests 74,844,155.28 48,277,029.29
VII. Earnings per share:
(I) Basic earnings per share (V) 50 0.5255 0.4306
(II) Diluted earnings per share (V) 50 N/A N/A
Legal Representative: Yu Minliang Chief Financial Officer: Shen Li Person in Charge of the Accounting Body:Wu Lin
46
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
COMPANY'S INCOME STATEMENT
RMB
Period from Period from
Item Note 1 January 2018 to 1 January to
30 June 2018 30 June 2017
I. Operating income (XIV) 23 142,435,490.67 116,945,723.92
Less: Operating costs (XIV) 23, 24 18,213,798.99 15,285,367.42
Taxes and levies 1,661,292.77 658,575.63
Selling expenses (XIV) 24 98,922,319.68 89,464,577.51
Administrative expenses (XIV) 24 47,110,569.49 59,996,304.43
Financial expenses (XIV) 25 101,920,094.45 100,959,721.34
Including: Interest expenses 164,325,688.60 200,037,584.35
Interest income 67,923,517.62 110,022,324.63
Impairment losses of assets 994,469.11 36,320.87
Add: Other income (XIV) 26 12,191,550.00 342,650.00
Investment income (XIV) 27 420,137,125.60 392,981,341.22
Including: Gains from investment in associates and joint ventures 64,223,485.48 52,153,017.11
Gains from changes in fair values - -
Income from disposal of assets (losses) (21,515.98) (778.30)
II. Operating profit 305,920,105.80 243,868,069.64
Add: Non-operating income 88,681.65 360,980.73
Less: Non-operating expenses - 3,080.68
III. Total profit 306,008,787.45 244,225,969.69
Less: Income tax expenses 606,801.01 606,189.45
IV Net profit 305,401,986.44 243,619,780.24
V. Other comprehensive income (loss), net of tax (148,951,963.32) (104,218,024.33)
Other comprehensive income (loss) that will be reclassified subsequently
(148,951,963.32) (104,218,024.33)
into profit or loss
Profit or loss arising from changes in fair value of available-for-sales
(148,951,963.32) (104,218,024.33)
financial assets
VI. Total Comprehensive Income 156,450,023.12 139,401,755.91
Legal Representative: Yu Minliang Chief Financial Officer: Shen Li Person in Charge of the Accounting Body:Wu Lin
47
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
CONSOLIDATED CASH FLOW STATEMENT
RMB
Period from Period from
Item Note 1 January 2018 to 1 January to
30 June 2018 30 June 2017
I. Cash flows from operating activities:
Cash receipts from the sale of goods and the rendering of services 7,313,470,592.95 6,444,479,645.53
Receipts of taxes refund - 4,473,060.00
Other cash receipts relating to operating activities (V) 46(1) 614,534,837.48 213,275,922.50
Sub-total of cash inflows from operating activities 7,928,005,430.43 6,662,228,628.03
Cash payments for goods purchased and services received 2,156,527,457.37 1,478,366,206.49
Cash payments to and on behalf of employees 2,315,952,892.44 1,960,391,938.38
Payments of taxes 528,980,611.60 431,683,406.46
Other cash payment relating to operating activities (V) 46(2) 1,384,620,143.18 1,394,575,841.18
Sub-total of cash outflows from operating activities 6,386,081,104.59 5,265,017,392.51
Net cash flow from operating activities (V) 47(1) 1,541,924,325.84 1,397,211,235.52
II. Cash flows from investing activities:
Cash receipts from disposal and recovery of investments 99,551,209.26 111,777,935.18
Cash receipts from returns on investments 164,649,135.96 139,371,166.16
Net cash receipts from disposal of fixed assets, intangible assets and
20,835,443.14 10,435,688.24
other long-term assets
Net cash receipts from disposals of subsidiaries and other business units - 725,901.20
Other cash receipts relating to investing activities (V) 46(3) - 45,000,000.00
Sub-total of cash inflows from investing activities 285,035,788.36 307,310,690.78
Net cash payments to acquisition of subsidiaries and other business units (V) 47(2) 12,696,646.76 418,742,874.09
Net cash payments to disposal of subsidiaries and other business units - 689,279.31
Cash payments to acquire or construct fixed assets, intangible assets and
438,813,404.40 485,018,057.68
other long-term assets
Cash payments to acquire investments (V) 46(4) - 101,150,002.00
Other cash payments relating to investing activities (V) 46(5) 2,262,561.98 6,353,619.89
Sub-total of cash outflows from investing activities 453,772,613.14 1,011,953,832.97
Net cash flow from investing activities (168,736,824.78) (704,643,142.19)
III. Cash flows from financing activities:
Cash receipts from borrowings (V) 46(6) 427,329,371.16 6,218,431,860.49
Cash receipts relating to other financing activities (V) 46(7) - 1,472,378,295.96
Sub-total of cash inflows from financing activities 427,329,371.16 7,690,810,156.45
Cash repayments of borrowings (V) 46(8) 3,253,404,260.20 8,757,456,566.03
Cash payments for interest expenses and distribution of dividends or
794,848,079.30 776,212,062.16
profits or settlement of interest expenses
Including: Cash payments to minority shareholders for
1,123,258.62 1,425,231.93
distribution of dividends or profits
Other cash payments relating to financing activities (V) 46(9) 1,099,924,332.95 8,607,650.81
Sub-total of cash outflows from financing activities 5,148,176,672.45 9,542,276,279.00
Net cash flow from financing activities (4,720,847,301.29) (1,851,466,122.55)
IV. Effect of foreign exchange rate changes on cash and cash equivalents (10,246,827.96) 39,845,691.83
V. Net increase (decrease) in cash and cash equivalents (3,357,906,628.19) (1,119,052,337.39)
Add: Opening balance of cash and cash equivalents (V) 47(3) 9,879,461,634.13 6,358,092,062.93
VI. Closing balance of cash and cash equivalents (V) 47(3) 6,521,555,005.94 5,239,039,725.54
Legal Representative: Yu Minliang Chief Financial Officer: Shen Li Person in Charge of the Accounting Body:Wu Lin
48
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
COMPANY'S CASH FLOW STATEMENT
RMB
Period from Period from
Item Note 1 January 2018 to 1 January to
30 June 2018 30 June 2017
I. Cash flows from operating activities:
Cash receipts from the sale of goods and the rendering of services 143,596,568.87 117,264,078.85
Other cash receipts relating to operating activities 486,453,760.22 70,742,648.22
Sub-total of cash inflows from operating activities 630,050,329.09 188,006,727.07
Cash payments for goods purchased and services received 45,765,441.77 33,912,505.74
Cash payments to and on behalf of employees 60,677,208.05 58,024,562.65
Payments of taxes 3,280,511.91 12,601,101.30
Other cash payment relating to operating activities 23,644,816.31 27,920,033.48
Sub-total of cash outflows from operating activities 133,367,978.04 132,458,203.17
Net cash flow from operating activities (XIV) 29(1) 496,682,351.05 55,548,523.90
II. Cash flows from investing activities:
Cash receipts from disposal and recovery of investments 136,700,227.56 132,784,050.62
Cash receipts from returns on investments 210,249,275.25 190,518,036.49
Net cash receipts from disposal of fixed assets, intangible assets
42,254.77 230.00
and other long-term assets
Other cash receipts relating to investing activities 12,619,807.71 5,300,000.00
Sub-total of cash inflows from investing activities 359,611,565.29 328,602,317.11
Net cash payments to acquisition of subsidiaries and other business units - 174,960,000.00
Cash payments to acquire or construct fixed assets, intangible assets and
39,386,695.55 34,231,368.83
other long-term assets
Cash payments to acquire investments 1,094,278,050.05 100,000,000.00
Other cash payments relating to investing activities (XIV) 28(1) 2,262,561.98 6,353,619.89
Sub-total of cash outflows from investing activities 1,135,927,307.58 315,544,988.72
Net cash flow from investing activities (776,315,742.29) 13,057,328.39
III. Cash flows from financing activities:
Cash receipts from borrowings 400,000,000.00 1,530,000,000.00
Cash receipts relating to other financing activities (XIV) 28(2) - 1,472,378,295.96
Sub-total of cash inflows from financing activities 400,000,000.00 3,002,378,295.96
Cash repayments of borrowings 3,205,000,000.00 3,850,000,000.00
Cash payments for interest expenses and distribution of dividends or
702,359,061.91 685,893,992.21
profits or settlement of interest expenses
Sub-total of cash outflows from financing activities 3,907,359,061.91 4,535,893,992.21
Net cash flow from financing activities (3,507,359,061.91) (1,533,515,696.25)
IV. Effect of foreign exchange rate changes on cash and cash equivalents 3,091,459.15 (10,644,223.08)
V. Net increase (decrease) in cash and cash equivalents (3,783,900,994.00) (1,475,554,067.04)
Add: Opening balance of cash and cash equivalents (XIV) 29(2) 4,948,403,936.97 2,827,562,677.11
VI. Closing balance of cash and cash equivalents (XIV) 29(2) 1,164,502,942.97 1,352,008,610.07
Legal Representative: Yu Minliang Chief Financial Officer: Shen Li Person in Charge of the Accounting Body:Wu Lin
49
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
RMB
Period from 1 January 2018 to 30 June 2018
Attributable to equity holders of the Company
Item Other Non-controlling
Total owners' equity
Comprehensive interests
Share capital Capital reserve income Surplus reserve Retained profits
I. Closing balance of the prior period 957,936,440.00 8,710,565,290.98 496,729,741.73 653,878,905.35 2,165,192,559.23 1,631,434,156.05 14,615,737,093.34
Add: Changes in accounting policies - - - - - - -
II. Opening balance of the current period 957,936,440.00 8,710,565,290.98 496,729,741.73 653,878,905.35 2,165,192,559.23 1,631,434,156.05 14,615,737,093.34
III. Changes for the period
(I)Total comprehensive income (loss) - - (37,133,795.86) - 503,408,830.91 74,844,155.28 541,119,190.33
(II) Owner's contributions and reduction in capital
1. Ordinary shares invested by the shareholders - - - - - - -
2. Capital contribution from non-controlling interests of the subsidiaries - - - - - - -
3. Capital reduction by non-controlling interests of the subsidiaries - - - - - - -
4. Acquisition of non-controlling interests (Note (VII) 2) - (666,877,795.13) - - - (537,900,581.26) (1,204,778,376.39)
(III) Profit distribution
1. Transfer to surplus reserve - - - - - - -
2. Distribution to shareholders - - - - (536,444,406.40) (1,123,258.63) (537,567,665.03)
(IV) Transfer within owners' equity - - - - - - -
(V) Special reserve - - - - - - -
(VI) Others - - - - - - -
IV. Closing balance of the current period 957,936,440.00 8,043,687,495.85 459,595,945.87 653,878,905.35 2,132,156,983.74 1,167,254,471.44 13,414,510,242.25
Legal Representative: Yu Minliang Chief Financial Officer: Shen Li Person in Charge of the Accounting Body:Wu Lin
50
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
RMB
Period from 1 January 2017 to 30 June 2017
Attributable to equity holders of the Company
Item Other Non-controlling
Total owners' equity
comprehensive interests
Share capital Capital reserve income Surplus reserve Retained profits
I. Closing balance of the prior 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 balance 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 (loss) - - (52,842,589.32) - 412,453,689.41 48,277,029.29 407,888,129.38
(II) Owner's contributions and reduction in capital
1.Ordinary shares invested by the shareholders - - - - - - -
2. Capital contribution non-controlling interests - - - - - - -
3. Capital reduction by non-controlling interests - - - - - (3,236,256.60) (3,236,256.60)
(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 owners' equity - - - - - - -
(V) Special reserve - - - - - - -
(VI) Others
1. Business combination involving enterprises not under common control - - - - - 22,596,408.10 22,596,408.10
2. Disposal of subsidiaries - - - - - (10,672,845.54) (10,672,845.54)
3. Others - (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 Minliang Chief Financial Officer: Shen Li Person in Charge of the Accounting Body:Wu Lin
51
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY OF THE COMPANY
RMB
Period from 1 January 2018 to 30 June 2018 Period from 1 January 2017 to 30 June 2017
Other Other
Item
comprehensive Total owners’ comprehensive Total owners’
Share capital Capital reserve income Surplus reserve Retained profits equity Share capital Capital reserve income Surplus reserve Retained profits equity
I. Closing balance of the prior period 957,936,440.00 9,189,446,079.42 324,128,412.57 653,878,905.35 662,730,958.92 11,788,120,796.26 957,936,440.00 9,224,047,247.80 496,039,633.30 620,398,935.89 821,220,724.96 12,119,642,981.95
Add: Changes in accounting policies - - - - - - - - - - - -
II. Opening balance of the current period 957,936,440.00 9,189,446,079.42 324,128,412.57 653,878,905.35 662,730,958.92 11,788,120,796.26 957,936,440.00 9,224,047,247.80 496,039,633.30 620,398,935.89 821,220,724.96 12,119,642,981.95
III. Changes for the period
(I)Total comprehensive income (loss) - - (148,951,963.32) - 305,401,986.44 156,450,023.12 - - (104,218,024.33) - 243,619,780.24 139,401,755.91
(II) Owner's contributions and reduction in capital - - - - - - - - - - - -
(III) Profit distribution
1. Transfer to surplus reserve - - - - - - - - - - - -
2. Distribution to shareholders - - - - (536,444,406.40) (536,444,406.40) - - - - (459,809,491.20) (459,809,491.20)
(IV) Transfer within owners' equity - - - - - - - - - - - -
(V) Special reserve - - - - - - - - - - - -
(VI) Others - - - - - - - (34,601,168.38) - - - (34,601,168.38)
IV. Closing balance of the current period 957,936,440.00 9,189,446,079.42 175,176,449.25 653,878,905.35 431,688,538.96 11,408,126,412.98 957,936,440.00 9,189,446,079.42 391,821,608.97 620,398,935.89 605,031,014.00 11,764,634,078.28
Legal Representative: Yu Minliang Chief Financial Officer: Shen Li Person in Charge of the Accounting Body:Wu Lin
52
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
I. GENERAL INFORMATION
Shanghai Jin Jiang International Hotels Development Co., Ltd. (hereinafter "the Company") is a limited
company incorporated in Shanghai, the People's 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 code is 91310000132203715W. The
legal representative is Mr. 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 total 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
total 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 total 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 total 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 total 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 2009. 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 total share capital of the Company accordingly
increased to RMB 804,517,740.
53
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
I. GENRAL INFORMATION - continued
On 16 February 2015, the Company's 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 SDL's 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 shareholders
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 12 January 2018, the Company acquired 12.0001% non-controlling interests in
Keystone. On 30 June 2018, the Company held 93.0035% equity interests in Keystone totally.
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 Hotels") and Longevity Village
Catering Chain Co., Ltd ("Longevity Village Catering"). On 1 July 2016, the share equity acquisition was
completed and the Company became the shareholding company of Vienna Hotels and Longevity Village
Catering.
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 RMB
4,518,180,715.00, 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 2018, the Company's shares amounted to 957,936,440 shares 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 shareholding company of Jin Jiang Hotels Group and the ultimate holding company of
the Company.
On 29 August 2018, Board of Directors of the Company authorized the Company's 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.
54
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
II. BASIS OF PREPARATION OF FINANCIAL STATEMENTS - continued
Basis of accounting and principle of measurement - continued
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.
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 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;
Level 3 inputs are unobservable inputs for the asset or liability.
The Group has assessed its sustainability for 12 months from 30 June 2018, and has found no major doubts
about its sustainability. Therefore, the financial statements are based on the assumption of continued operation.
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE
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 Company's and consolidated financial position as of 30 June 2018, and the Company's and
consolidated results of operations and cash flows for the period from 1 January 2018 to 30 June 2018.
2. Accounting period
The Group adopts the calendar year as its accounting year, i.e. from 1 January to 31 December. The accounting
period for the financial statements is from 1 January 2018 to 30 June 2018.
3. Business cycle
The Group principally engages in operation and management of limited service hotels, food and cuisine at home
and abroad, whose business cycle is generally 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 Company's 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.
55
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - 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 acquirer’s 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.
When the purchaser needs additional combined consideration in accordance with occurrence of a contingency in
the future as agreed by the combination agreement, the Group will recognize contingent consideration agreed by
combination agreement as a liability and a part of transfer consideration for business combination, which will be
included into business combination cost in accordance with its fair value at the purchase date. Where the
contingent consideration is required to be adjusted due to new or further evidence in respect of existing
condition on purchase date, a recognition will be made and the amount originally included into goodwill will be
adjusted. Changes in or adjustments on contingent consideration under other conditions: the contingent
consideration of nature of liability is measured in accordance with Accounting Standards for Business
Enterprises No.22–Recognition and Measurement of Financial Instruments and Accounting Standards for
Business Enterprises No.13–Contingencies, and the changes or adjustments incurred will be included into profit
or loss for the current period. The Group's obligation to acquire minority interests in subsidiaries at certain
considerations in accordance with the contract is recognized as a financial liability measured at fair value and
deducts the Group's capital reserve.
56
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
5. The accounting treatment of business combinations involving enterprises under common control and
business combinations not involving enterprises under common control - continued
5.2 A business combination not involving enterprises under common control and goodwill - continued
Where the cost of combination exceeds the acquirer’s interest in the fair value of the acquirer’s 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 acquirer’s interest in the fair value of the acquiree’s
identifiable net assets, the acquirer firstly reassesses the measurement of the fair values of the acquiree’s
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 acquirer’s interest in the fair value of the acquiree’s
identifiable net assets, the acquirer recognizes the remaining difference immediately in profit and loss for the
current period.
At the end of combination for the current period, if the fair value of each identifiable asset, liability and
contingent liability acquired in the business combination, or the cost of business combination only can be
determined temporarily, the business combination shall be recognized and measured based on the determined
temporary value. Where the determined temporary value is adjusted within 12 months after purchase date, it is
deemed that the recognition and measurement is made on the purchase date.
Goodwill arising from a business combination is presented separately in the consolidated financial statements,
and it's represented in accordance with the amount of cost less accumulated impairment losses.
6. Preparation of consolidated financial statements
Preparation of consolidated 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 Group's 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.
57
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
6. Preparation of consolidated financial statements - continued
Preparation of consolidated financial statements - continued
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 on the consolidated financial statements are eliminated on
consolidation.
The portion of owners' equity that is not attributable to the Company is treated as non-controlling interests and
presented as "non-controlling interests" in the consolidated balance sheet within shareholders' equity. The
portion of net profits or losses of subsidiaries for the period attributable to non-controlling interests is presented
as "non-controlling 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 non-controlling 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 Company's 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.
For the stepwise acquisition of equity interest till acquiring control after a few transactions and leading to
business combination not involving enterprises under common control, this should be dealt with based on
whether this belongs to 'package deal': if it belongs to 'package deal', transactions will be dealt as transactions to
acquire control. If it does not belong to 'package deal', transactions to acquire control on acquisition date will be
under accounting treatment, the fair value of acquirees' shares held before acquisition date will be revalued, and
the difference between fair value and book value will be recognized in profit or loss of the current period; if
acquirees' shares held before acquisition date involve in changes of other comprehensive income and other
equity of owners under equity method, this will be transferred to income of acquisition date.
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 at 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 subsidiary's 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. Other
comprehensive income associated with investment in the former subsidiary is reclassified to investment income
in the period in which control is lost.
7. Determination basis of 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.
58
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
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 shareholder's 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 financial statements denominated in foreign currencies
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 year's financial statements.
On disposal of the Group's 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.
59
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
8. Translation of transactions and financial statements denominated in foreign currencies - continued
8.2 Translation of financial statements denominated in foreign currencies - continued
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 non-controlling 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 Group’s financial assets are classified into one of the four categories, including
financial assets at fair value through profit or loss, held-to-maturity investments, loans and receivables, and
available-for-sale financial assets. 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. Financial assets at fair value through profit or loss (“FVTPL”)
Financial assets at FVTPL include financial assets held for trading and those designated as at fair value through
profit or loss.
60
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
9. Financial instruments - continued
9.2 Classification, recognition and measurement of financial assets - continued
9.2.1. Financial assets at fair value through profit or loss (“FVTPL”) - continued
A financial asset is classified as held for trading if one of the following conditions is satisfied: (1) It has been
acquired principally for the purpose of selling in the near term; or (2) On initial recognition it is part of a
portfolio of identified financial instruments that the Group manages together and there is objective evidence that
the Group has a recent actual pattern of short-term profit-taking; or (3) It is a derivative that is not designated
and effective as a hedging instrument, or a financial guarantee contract, or a derivative that is linked to and must
be settled by delivery of an unquoted equity instrument (without a quoted price in an active market) whose fair
value cannot be reliably measured.
A financial asset may be designated as at FVTPL upon initial recognition only when one of the following
conditions is satisfied: (1) Such designation eliminates or significantly reduces a measurement or recognition
inconsistency that would otherwise result from measuring assets or recognizing the gains or losses on them on
different bases; or (2) The financial asset forms part of a group of financial assets or a group of financial assets
and financial liabilities, which is managed and its performance is evaluated on a fair value basis, in accordance
with the Group's documented risk management or investment strategy, and information about the grouping is
reported to key management personnel on that basis. (3) The qualified hybrid financial instrument combines
financial asset with embedded derivatives.
Financial assets at FVTPL are subsequently measured at fair value. Any gains or losses arising from changes in
the fair value and any dividend or interest income earned on the financial assets are recognized in profit or loss.
9.2.2 Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not
quoted in an active market. The accounts receivable, interest receivables, dividends receivable and other
receivables 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.
9.2.3 Available-for-sale financial assets
Available for sale financial assets are those non-derivative financial assets that are designated as
available-for-sale or are not classified as (1) financial assets at fair value through profit and loss, (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 available for sale 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.
61
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
9. Financial instruments - continued
9.3 Impairment of financial assets
The Group assesses, on each balance sheet date, the carrying amounts of financial assets except for financial
assets 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, have 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 by the borrower, such as a default or delinquency in interest or principal payments;
(3) The Group, for economic or legal reasons relating to the borrower’s 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 of the
issue;
(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.
- 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 asset's 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.
62
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
9. Financial instruments - continued
9.3 Impairment of financial assets - continued
- Impairment of available for sales financial assets
For available for sales 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 (including 12 months), It is considered that the fair value has serious or non-temporary decline,
which means impairment incurred.
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.
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.
63
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
9. Financial instruments - continued
9.4 Transfer of financial assets - continued
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, instead of the legal form only, 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 fair value through profit
or loss 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.
Financial liabilities which satisfy 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 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 Group’s 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.
64
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - 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 at fair value through profit or loss are 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.
9.7 Financial derivatives
Financial derivatives encompass 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.
65
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
9. Financial instruments - continued
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 Group's 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:
Basis or monetary criteria for The Group recognizes accounts receivable of over RMB
determining an individually significant 5,000,000(included RMB5,000,000) as individually significant
receivable receivables.
For receivables that are individually significant, the Group assesses
the receivables individually for impairment. For a financial asset
Method of determining provision for
that is not impaired individually, the Group includes the asset in a
receivables that are individually
group of financial assets with similar credit risk characteristics and
significant and for which bad debt
collectively assesses them for impairment. Receivables for which an
provision is individually assessed
impairment loss is individually recognized are not included in a
collective assessment of impairment.
10.2 Receivables for which bad debt 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 Aging analysis
management and operation business in Mainland
China
Receivables arising from limited service hotels Aging analysis
management and operation business other than
Mainland China
Food and catering business The Group believes that the bad debt risk of accounts
receivable for food and catering business is relatively low,
thus no provision for bad debts is made for the portfolio.
66
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - 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 -1 year 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
181 days-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
Reasons for making individual bad debt provision
show that special event occurs and on all other
receivables.
Tested individually; If present value of estimated
Bad debt provision methods for accounts receivable
future cash flows is less than its carrying amount, a
that are not individually significant but for which bad
provision for impairment losses in respect of the
debt provision is individually assessed
deficit is recognized in profit and loss for the period.
11. Inventories
11.1 Classification of inventories
The Group's 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 weighted average method or first-in-first-out ("FIFO") method.
67
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - 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.
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.
68
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
12. Long-term equity investments - continued
12.2 Determination of initial investment cost - continued
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 Company's 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
Group’s share of the fair value of the investee’s 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 Group’s share of the fair
value of the investee’s 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.
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 investee's net
profit or loss after making appropriate adjustments based on the fair value of the investee’s 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 Group's 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 Group's proportionate share of interest are eliminated. However, unrealized losses resulting from the Group's
transactions with its associates and joint ventures which represent impairment losses on the transferred assets
are not eliminated.
69
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - 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
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.
13.2 Depreciation methods
A fixed asset is depreciated over its useful life using the straight-line method since the month subsequent to the
one in which it is ready for intended use, except that the land with an uncertain useful life is not depreciated.
The depreciation method, useful life, estimated net residual value rate and annual depreciation rate of each
category of fixed assets are as follows:
Depreciation Residual value Annual
Category Depreciation method period rate depreciation rate
(years) (%) (%)
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.
70
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
13. Fixed assets - continued
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 no reasonable certainty
that the Group will obtain ownership of the leased asset at the.
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.
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.
71
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
16. Intangible assets
Intangible assets include land use rights, patent and relevant rights, beneficial rights of long-term lease,
trademark and brand, membership, and 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 (%)
Land use right
Evenly amortized using straight line 40 0
method by stage
Evenly amortized using straight line The remaining lease 0
Beneficial rights of long-term lease
method by stage contract term
Trademark and brand Not amortized Uncertain 0
Evenly amortized using straight line 20 0
Membership
method by stage
Patent, relevant rights and software
Evenly amortized using straight line 2-15 0
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.
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.
72
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
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.
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.
73
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
19. Employee benefits - continued
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.
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 Group's 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.
74
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
21. Revenue - continued
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
Income from membership granting is recognized on accrual basis.
21.6 Interest income
The amount of interest income is determined according to the length of time for which the Group's 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 income-related government grants.
If a government grant is in the form of a transfer of a monetary asset, it is measured at the amount received or
receivable.
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. 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 to the Group mainly includes supporting fund for Jin Jiang Inn business and fiscal subsidy
for interests of borrowings. Hence the grant is related to income.
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.
A government grant related to the Group's daily activities is recognized in other income based on the nature of
economic activities. A government grant is not related to the Group's daily activities is recognized in
non-operating income and expenses.
75
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
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.
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.
76
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
23. Deferred tax assets/Deferred tax liabilities - continued
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.
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 operation leases
24.2.1 The Group as lessee under operating 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 Group’s hedging
tools are principally cash flow hedging.
77
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
25. Hedging Accounting - continued
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.
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 adopts the Notice on Printing and Issuing the Templates of Financial Statements for General
Enterprises in 2018 (Cai Kuai (2018) No. 15, hereinafter referred to as “Cai Kuai No. 15 Document”) issued on
15 June 2018 by the Ministry of Finance in respect of the preparation of the financial statements. In accordance
with Cai Kuai No. 15 Document, the items presented in the balance sheet and income statement are revised,
namely increasing “notes receivable and accounts receivable”, “notes payable and accounts payable” and “R&D
expenses”, revising “other receivables”, “fixed assets”, “construction in progress”, “other payables”, “long-term
payables” and “administrative expenses”, reducing “notes receivable”, “accounts receivable”, “dividends
receivable”, “interest receivable”, “disposal of fixed assets”, “engineering materials”, “notes payable”,
“accounts payable”, “interest payable”, “dividends payable” and “special payables”, increasing “including:
interest expenses” and “interest income” under “financial expenses” for presentation, and adjusting the
presentation location of part items under income statement. The Group has accounted for the above change in
presenting accounts retrospectively, and adjusted comparable data for prior year.
78
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
27. Critical 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 financial year are outlined as below:
27.1 Estimated useful lives and residual values of fixed assets
The Group's 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.
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 tax assets and deferred 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.
79
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
III. SIGNIFICANT ACCOUNTING POLICIES AND ACCOUNTING ESTIMATE - continued
27. Critical accounting estimates and judgements - continued
27.5 Impairment for long-term equity investment, fixed assets, construction in progress, intangible assets with
finite useful life, leasehold improvement and decoration expenses
The Group’s 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 asset’s 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 arm’s 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 Group’s 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,
the Group allocates goodwill to relevant assets group or combination of assets group. The recoverable amount
of an asset or asset group including goodwill is the higher of the present value of the future cash flows expected
to be derived from the asset and its fair value less costs of disposal. Accounting estimate are made for
calculation.
Details of key assumptions and estimates used in the calculation of recovery by the Group are set out in Note (V)
12. When the actual condition differs from the estimation, the recovery amount of assets or asset group will be
affected, which lead to impact over the impairment amount of goodwill.
27.8 Long-term employee benefits payable
At the end of each accounting year, the management invites experts to conduct actuarial valuation over the
Group’s 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.
80
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
IV. TAXATION
Major tax types and tax rates
Tax rate and simple
Tax type Tax basis
levy rate
The Company and subsidiaries in Mainland China:
Balance of VAT output deducting deductible VAT input 5%, 6%, 11% (10%) or
Value added tax
17% (16%) (Note1)
Urban maintenance and construction tax Turnover tax 5% or 7%
Education surcharges Turnover tax 3%
Local education surcharges Turnover tax 2%
Corporate income tax Taxable income 15% or 25% (Note 2)
Property tax Original cost of taxable property , rental income 1.2% or 12%
Subsidiaries out of Mainland China:
Value added tax Taxable revenue 20%, 19.6% or 10%
Don mutual des sociétés 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%
Income tax Taxable income (Note 3)
The value added amount of companies in 0% - 1.5%
Contribution for value added by business (CVAE)
accordance with France Tax Law
Note 1: In accordance with the notice on adjusting VAT tax rate (Cai Shui [2018] No. 32) issued by the
Ministry of Finance and State Administration of Taxation, the taxpayer who engages in VAT taxable
sales and applies tax rate at 17% and 11% is adjusted to pay tax at 16% and 10% since 1 May 2018.
Note 2: Pursuant to "Circular of Adjustment on Enterprise Income Tax Rate" (Zang Zheng Fa [2011] No. 14)
issued by the People's Government of Tibet Autonomous Region, and preferential tax policies of
Western Development Campaign, the companies established in Tibet Autonomous Region are levied
enterprise income tax rate of 15% for the period from 2011 to 2020.
Guangzhou Saiwen Software Development Co., Ltd. continued to be granted as a High-Tech Enterprise
on 11 December 2017 and its enterprise income rate remains to be 15% for the three consecutive years
since 2018.
The Company and other domestic subsidiaries are subject to tax rate of 25%.
Note 3: 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 finance acts of France, applicable enterprise income
tax rate of GDL will be changed to 28.92% from 2019. In accordance with relevant financial decrees of
France in 2018, the tax rate of enterprise income tax applicable to GDL is gradually changed from
28.92% to 25.83% from 2020.
In January 2018, Keystone and 6 enterprises incorporated out of China subordinate to it (7Days Group
Holdings Limited, 7 Days Inn Group (HK) Limited, Huan Peng Hotel Management (HK) Limited,
Plateno Information and Technology Development (HK) Limited, Plateno Supply Chain Management
(HK) Limited and Chujian (HK) Limited) became Chinese-controlled resident enterprises incorporated
overseas as recognized by the State Administration of Taxation, with income tax levied at 25%.
Except for above Keystone and 6 enterprises incorporated out of China subordinate to it, subsidiaries
incorporated in Cayman Islands by the Group 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 34.43 %.
81
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS
1. Cash and bank balances
RMB
30 June 2018 31 December 2017
Item Amount in Exchange Amount in Exchange
foreign currency rate Amount in RMB foreign currency rate Amount in RMB
Cash:
RMB 12,714,367.78 19,019,450.76
EUR - - - 3,261.02 7.8023 25,443.46
Bank deposit (Note 1):
RMB 4,015,860,987.25 6,966,977,128.10
USD 41,295,767.52 6.6166 273,237,575.37 96,976,155.73 6.5342 633,662,836.37
EUR 68,139,795.49 7.6515 521,371,645.18 79,811,320.96 7.8023 622,711,869.53
GBP 8,368,743.98 8.6360 72,272,510.80 4,746,118.56 8.7963 41,748,185.84
BRL 4,513,000.00 1.7049 7,694,122.00 7,628,000.00 1.9638 14,980,101.78
PLN 70,117,016.75 1.7497 122,684,736.72 56,315,120.78 1.8679 105,192,115.60
MAD 1,486,000.00 0.6908 1,026,555.53 1,077,000.00 0.6952 748,737.15
IDR 2,355,793,627.17 0.0005 1,082,433.26 901,172,506.94 0.0005 434,006.82
HKD 3,957,936.78 0.8431 3,336,939.10 5,793,244.65 0.8359 4,842,573.23
THB 1,635,000.00 0.1984 324,392.65 - - -
KRW 258,767,000.00 0.0059 1,526,895.32 56,656,697.00 0.0061 345,458.80
IDR 74,928,000.00 0.0959 7,183,185.59 54,731,000.00 0.1018 5,574,337.27
KES 3,825.35 0.0383 146.36 6,886,959.95 0.0633 435,652.49
Deposit in other financial
institution (note2):
RMB 1,481,753,598.03 1,466,352,167.87
Total 6,522,070,090.94 9,883,050,065.07
Note 1: The bank balances of the Group include frozen fund of RMB 0 for litigation (Opening balance:
RMB3,073,345.94).
The above bank deposits of the Group include L/G deposits of RMB 515,085.00 (Opening balance:
RMB515,085.00。
Note 2: Deposit in other financial institution refers to the amount deposited in Jin Jiang International Finance
Co., Ltd. (Non-bank financial institution as approved, hereinafter referred to as "Finance Company").
2. Notes receivable and accounts receivable
At 30 June 2018 and 31 December 2017, the balance of the Group’s notes receivable is RMB 0.
(1) Disclosure of accounts receivable by categories:
RMB
30 June 2018 31 December 2017
Category
Book balance Bad debt provision Book balance Bad debt provision
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
1,225,192,727.01 97.95 178,322,887.71 14.55 1,046,869,839.30 1,083,703,373.24 98.28 162,591,568.89 15.00 921,111,804.35
provision has been
assessed by credit
risk portfolio
Accounts
receivable that are
not individually
significant but for
25,688,814.64 2.05 11,712.20 0.05 25,677,102.44 18,928,574.14 1.72 12,476.70 0.07 18,916,097.44
which bad debt
provision has been
assessed
individually
Total 1,250,881,541.65 100.00 178,334,599.91 14.26 1,072,546,941.74 1,102,631,947.38 100.00 162,604,045.59 14.75 940,027,901.79
82
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
2. Notes receivable and accounts receivable - continued
(2) Bad debt provision of the accounts receivable that recognized by aging analysis:
RMB
30 June 2018
Aging Bad debt
Amount provision Ratio (%)
Within 3 months 868,780,740.36 - -
3-12 months 234,242,635.07 70,186,850.27 29.96
Over 12 months 122,169,351.58 108,136,037.44 88.51
Total 1,225,192,727.01 178,322,887.71 14.55
(3) Provision, collection or reversal of bad debt provision for the period
RMB
31 December Translation
Item Provision Reversal Write-off difference
30 June 2018
2017
Bad debt
provision
162,604,045.59 17,283,292.35 (764,807.87) (766,956.77) (20,973.39) 178,334,599.91
(4) Top five entities with the largest balances of accounts receivable at the end of period
RMB
Proportion of the
Bad debt
Relationship amount to the total
Name of entity Amount provision
with the Group accounts receivable
amount
(%)
Shanghai Jinjiang International Related party 85,473,211.11
6.83 -
Electronic Commerce Co., Ltd.
GOLDEN TULIP MENA Related party 12,127,321.44 0.97 4,544,991.00
Zhejiang Tmall Technology Co., Ltd. The third party 8,254,172.42 0.66 -
Beijing Kuxun Technology Co., Ltd. The third party 7,850,434.99 0.63 -
TRANSHOTEL The third party 7,760,929.69 0.62 5,455,684.31
Total 121,466,069.65 9.71 10,000,675.31
3. Advances to suppliers
(1) The aging analysis of advances to suppliers is as follows:
RMB
30 June 2018 31 December 2017
Aging
Amount Ratio (%) Amount Ratio (%)
Within one year 293,910,386.50 100.00 327,214,714.29 100.00
Total 293,910,386.50 100.00 327,214,714.29 100.00
(2) Top five entities with the largest balances of advances to suppliers at the end of period
RMB
Name of entity Relationship with the Reasons for
Closing balance
Group outstanding
Hangzhou CBD Construction Investment Co., 8,464,488.36
The third party Prepaid rental
Ltd.
Xi’an Tianhao Industrial Co., Ltd. The third party 5,289,003.94 Prepaid rental
Guiyang Xiaohejinfeng Catering & 4,347,197.00
The third party Prepaid rental
Entertainment Co., Ltd.
Shanghai CIIC Financial Consulting Co., Ltd. The third party 3,706,579.88 Prepaid rental
Guangzhou Chenxin Investment Consulting 3,690,764.52
The third party Prepaid rental
Co., Ltd.
Total 25,498,033.70
83
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
4. Other receivables
RMB
Item of other receivables 30 June 2018 31 December 2017
Other receivables 515,816,129.97 473,982,593.40
Interest receivable 6,643,354.30 409,399,415.02
Dividends receivable 57,293,318.46 20,215,877.40
Total 579,752,802.73 903,597,885.82
(1) Disclosure of other receivables by category
RMB
30 June 2018 31 December 2017
Book balance Bad debt provision Book balance Bad debt 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 72,638,330.12 12.73 11,322,337.50 15.59 61,315,992.62 38,125,791.50 7.20 11,431,667.50 29.98 26,694,124.00
provision has been
assessed individually
Other receivables that are
not individually
significant but for which
497,911,210.35 87.27 43,411,073.00 8.72 454,500,137.35 491,168,922.94 92.80 43,880,453.54 8.93 447,288,469.40
bad debt provision has
been assessed
individually
Total 570,549,540.47 100.00 54,733,410.50 9.59 515,816,129.97 529,294,714.44 100.00 55,312,121.04 10.45 473,982,593.40
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 Bad debt
Book balance Ratio (%) Reason
provision
Shenzhen Yingmaiqi Electromechanical 5,775,000.00 5,775,000.00 100.00 Projected to be
Equipment Co., Ltd. (Note 1) uncollectable
5,547,337.50 5,547,337.50 100.00 Projected to be
Golden Tulip Southern Asia LTD (Note 2)
uncollectable
Total 11,322,337.50 11,322,337.50
Note 1: Shenzhen Yingmaiqi Electromechanical Equipment Co., Ltd. (as YMQ) is the equipment supplier of
Keystone. As the equipment that YMQ provided was not available to use, Keystone asks for refund.
Meanwhile, Keystone undertakes the 100% provision of bad debts based on the possibility of refund.
Note 2: GDL paid payments for its associate company Golden Tulip Southern Asia LTD. GDL undertakes the
100% provision of bad debts based on the possibility of refund because of the dispute on the payments.
(2) Provision, collection or reversal of bad debts provisions for the period
RMB
31 December Translation
Item Provision Reversal Write-off 30 June 2018
2017 difference
Bad debt
55,312,121.04 48,526.39 - (46,204.60) (581,032.33) 54,733,410.50
provision
84
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
4. Other receivables - continued
(3) Other receivables by nature:
RMB
Nature of other receivables 30 June 2018 31 December 2017
Deposits and guarantees 284,070,954.74 252,730,869.65
Business working capital 6,788,227.98 8,370,224.27
Advances and others 279,690,357.75 268,193,620.52
Total 570,549,540.47 529,294,714.44
(4) Top five entities with the largest balances of other receivables at the end of period
RMB
Proportion of
Relation the amount to
Closing balance of
Name of entity Nature with the Closing balance Aging the total other
bad debt provision
Company receivables
(%)
Shenzhen United Property And Share The third
Deposits
party
30,000,000.00 Within 1 year 5.26 -
Rights Exchange Co., Ltd. (Note 1)
Hangzhou Qianjiang Xincheng Asset
Operation and Management Investment The third
Deposits
party
15,516,524.00 2 - 3 years 2.72 -
Co., Ltd (Note 2)
The third 6,177,600.00
Shenzhen Shawei Industrial Corporation Deposits
party
Over 4 years 1.08 -
Shenzhen Yingmaiqi Machinery and The third 5,775,000.00
Electric Equipment Co., Ltd.
Advances
party
2 - 3 years 1.01 5,775,000.00
Related 5,547,337.50
Golden Tulip Southern Asia LTD Advances
party
2 - 3 years 0.97 5,547,337.50
Total 63,016,461.50 11.04 11,322,337.50
Note 1: It refers to the deposit for lease deposited by Hampton Hotel Management (Guangzhou) Co., Ltd., a
subsidiary of Keystone, in Shenzhen United Property And Share Rights Exchange Co., Ltd. as required
when it leased property in Shenzhen. The deposit will be returned if the lease is completed or leasing
intention is cancelled.
Note 2: 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. Hotel Investment is
the subsidiary of the Company.
(5) Interest receivable
RMB
Name of entity 30 June 2018 31 December 2017
Fixed deposit at banks 5,052,954.25 408,473,121.64
Fixed deposit at financial companies 1,584,237.55 913,745.05
Entrusted loans 203,170.28 209,556.11
Subtotal 6,840,362.08 409,596,422.80
Less: Bad debt provision 197,007.78 197,007.78
Total 6,643,354.30 409,399,415.02
85
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
4. Other receivables - continued
(6) Dividends receivable
RMB
31 December Translation Reasons for Impaired or
Item Increase Decrease 30 June 2018
2017 reserve outstanding not
Dividends receivable within
one year
(1) Changjiang Securities -
6,000,000.00 - - 6,000,000.00 Not issued yet No
Co., Ltd.
(2) Hangzhou Kentucky 19,482,475.25 Not issued
Fried Chicken Co., Ltd. 45,927,333.18 (28,667,325.42) - 36,742,483.01 No
completely
(3) Suzhou Kentucky Fried - Not issued
Chicken Co., Ltd. 20,399,349.80 (12,800,000.00) - 7,599,349.80 No
completely
(4) Wuxi Kentucky Fried 19,507.30 Not issued
9,168,683.11 (4,000,000.00) - 5,188,190.41 No
Chicken Co., Ltd. completely
(5) Shanghai Kentucky - N/A
113,316,970.03 (113,316,970.03) - - No
Fried Chicken Co., Ltd.
(6) Shanghai New Asia
- 5,740,000.00 (5,740,000.00) - - N/A No
Fulihua Catering Co., Ltd.
(7) Equity investment of Not issued
GDL 713,894.85 38,801.82 (38,470.66) (13,800.05) 700,425.96 No
completely
(8) Others - 1,062,869.28 - - 1,062,869.28 Not issued yet No
Total 20,215,877.40 201,654,007.22 (164,562,766.11) (13,800.05) 57,293,318.46
5. Inventories
(1) Category of inventories
RMB
30 June 2018 31 December 2017
Item Provision for the Provision for the
Book balance Book value Book balance Book value
decline in value decline in value
Raw material 38,805,882.93 134,951.83 38,670,931.10 43,385,307.57 134,951.83 43,250,355.74
Finished goods 202,647.38 - 202,647.38 235,981.04 - 235,981.04
Goods on hand 45,702,458.52 2,872,606.96 42,829,851.56 35,111,013.46 2,993,675.58 32,117,337.88
Total 84,710,988.83 3,007,558.79 81,703,430.04 78,732,302.07 3,128,627.41 75,603,674.66
(2) Provision for the decline in value of inventories
RMB
31 December Translation
Category Addition Reversal Write-off 30 June 2018
2017 difference
Raw materials 134,951.83 - - - - 134,951.83
Goods on hand 2,993,675.58 3,946.21 (764.50) (73,870.93) (50,379.40) 2,872,606.96
Total 3,128,627.41 3,946.21 (764.50) (73,870.93) (50,379.40) 3,007,558.79
6. Other current assets
RMB
Item 30 June 2018 31 December 2017
Deferred expenses 52,129,994.88 32,697,562.16
Prepaid taxes 291,740,200.52 228,391,498.43
Entrusted loans (Note) 5,575,598.73 7,918,354.93
Others 1,091,901.09 1,668,163.99
Total 350,537,695.22 270,675,579.51
Note: It refers to the entrusted loan (RMB5,100,000.00) issued by a subsidiary of the Group, Hotel
Investment, to Shanghai Xinjin Hotel Management Co., Ltd. with an annual interest rate at 4.35%.
Besides, it also includes entrusted loan (net amount: RMB475,598.73) issued by Keystone to
franchisees with annual interest rates from 10% to 12%.
86
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
7. Available-for-sale financial assets
(1) Information of available-for-sale financial assets
RMB
30 June 2018 31 December 2017
Item Provision for Provision for
Book balance Book value Book balance Book value
impairment impairment
Available-for-sale equity
instruments
- Measured at fair value 1,047,596,946.57 - 1,047,596,946.57 1,072,573,254.88 - 1,072,573,254.88
- Measured at cost 38,206,535.17 907,113.37 37,299,421.80 38,354,402.26 2,009,346.35 36,345,055.91
Total 1,085,803,481.74 907,113.37 1,084,896,368.37 1,110,927,657.14 2,009,346.35 1,108,918,310.79
(2) Available-for-sale financial assets measured at fair value at the end of period
RMB
Available-for-sale
Category of available-for-sale financial assets
equity instruments
Cost of equity instruments 455,349,253.09
Fair value 1,047,596,946.57
Total changes in fair value of available-for-sale financial assets cumulatively 592,247,693.48
recognized in other comprehensive income
RMB
Number of shares at
Name of investee Stock code 31 December 2017 Changes in fair value Disposals 30 June 2018
end of period
Chang Jiang Security 417,109,999.99
000783 (182,847,767.55) (17,062,232.45) 217,199,999.99 40,000,000
Co., Ltd.
Bank of 6,295,517.91
601328 (476,472.37) - 5,819,045.54 1,013,771
Communications
Quanjude 002186 1,682,700.80 (308,813.84) - 1,373,886.96 95,608
Shenwan Hongyuan 000166 80,386,558.68 (14,969,564.00) - 65,416,994.68 14,969,564
Holding equity
through Ocean BT 567,098,477.50 190,688,541.90 - 757,787,019.40 -
L.P. (Note)
Total 1,072,573,254.88 (7,914,075.86) (17,062,232.45) 1,047,596,946.57
Note: Keystone, a subsidiary of the Group and a limited partner of Ocean BT L.P. holds the 3.58% equity of
eLong Inc. (“eLong”) through Ocean BT L.P., and conducts as available-for-sale financial assets.
In March 2018, eLong purchased Tongcheng Network completely and was renamed to
Tongcheng-Elong Holdings Limited (“Tongcheng-Elong”). In June 2018, Tongcheng-Elong submitted
relevant materials for issuance to HKEX.
The recognition of fair value of the available-for-sale financial asset is disclosed in Note (IX) 3.
87
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
7. Available-for-sale financial assets - continued
(3) Available-for-sale financial assets at cost at end of the reporting period
RMB
Book balance Impairment provision
Shareholding
Initial Increase for
Investee 31 December Translation 31 December Translation proportion in
investment business Increase Decrease 30 June 2018 Increase 30 June 2018
2017 difference 2017 difference investee (%)
cost combination Cash dividend
Hangzhou Kentucky Fried Chicken
12,265,725.33 12,265,725.33 - - - - 12,265,725.33 - - - - 8 45,927,333.18
Co., Ltd.
Suzhou Kentucky Fried Chicken Co.,
5,484,594.24 5,484,594.24 - - - - 5,484,594.24 - - - - 8 20,399,349.80
Ltd.
Wuxi Kentucky Fried Chicken Co.,
3,761,343.20 3,761,343.20 - - - - 3,761,343.20 - - - - 8 9,168,683.11
Ltd.
Changjiang United Development
700,000.00 700,000.00 - - - - 700,000.00 - - - - <1 -
Co., Ltd.
Shanghai Trade Center Company
5,187,700.00 5,187,700.00 - - - - 5,187,700.00 - - - - 3 -
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 - - - - 100,000.00 100,000.00 - - 100,000.00 4.95 -
Ltd.
Guangzhou Hanyan Desserts Co.,
4,000,000.00 4,000,000.00 - - - - 4,000,000.00 - - - - 10 -
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 Technology Co., Ltd.
Available-for-sale financial assets of
4,685,433.69 5,135,565.54 382,092.64 - (431,026.18) (98,933.55) 4,987,698.45 1,659,346.35 - (1,102,232.98) 557,113.37 - 38,801.82
GDL
Total 37,904,270.41 38,354,402.26 382,092.64 - (431,026.18) (98,933.55) 38,206,535.17 2,009,346.35 - (1,102,232.98) 907,113.37 - 75,534,167.91
88
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
8. Long-term equity investments
RMB
Changes for the period Closing
Investment Adjustment Provision balance of
31 December
Investee income on other Other changes Other reductions Cash dividends or for Translation 30 June 2018 provision for
2017 Increase
recognized under comprehens in equity (Note) profit distribution impairme difference impairment
equity method ive income nt loss loss
Associate -
Shanghai Kentucky Fried Chicken Co., Ltd. 213,299,451.31 - 62,980,270.34 - - - (113,316,970.03) - - 162,962,751.62 -
Shanghai Xinlu Catering Development Co., Ltd. 2,335,466.77 - (73,567.01) - - (2,261,899.76) - - - - -
Shanghai New Asia Fulihua Catering Co., Ltd. 31,156,022.06 - 3,877,060.36 - - - (5,740,000.00) - - 29,293,082.42 -
Shanghai Qicheng Network Technology Co., Ltd.
57,030,008.61 - (2,560,278.21) - - - - - - 54,469,730.40 -
("Qicheng Network") (Note 1)
Shanghai Yoshinoya Co., Ltd. 2,245,620.16 - (452,053.28) - - - - - - 1,793,566.88 -
Shanghai Jing An Bakery Co., Ltd. - - - - - - - - - - -
Shanghai Xinjin Hotel Management Co., Ltd. 3,111,812.76 - 308,352.59 - - - - - - 3,420,165.35 -
SNC Invest Hotels Dix 90 9,092,057.28 - 1,945,750.59 - - - - - (188,335.13) 10,849,472.74 -
SNC Rouen Annecy 7,147,406.57 - (38,449.24) - - - - - (2,868,948.02) 4,240,009.31 -
SNC Lisieux 4,704,548.84 - (143,030.95) - - - - - (89,903.44) 4,471,614.45 -
SNC Angers Montpellier Villeneuve Rennes Invest
6,642,167.68 - 357,924.40 - - - - - (130,696.50) 6,869,395.58 -
Hotels
SNC Chaville Bx Arles 6,273,111.01 - 328,090.02 - - - - - (123,370.19) 6,477,830.84 -
SNC Bayeux Bergerac Blagnac 4,537,496.19 - 220,163.42 - - - - - (89,125.57) 4,668,534.04 -
Saclay Invest Hotel 3,902,693.57 - (59,743.06) - - - - - (1,919,054.24) 1,923,896.27 -
Ganzi Holy Shambhala Tourism Investment Co., Ltd. - - - - - - - - - - 3,057,262.29
Guangzhou Minyan Information Technology Co., Ltd. 2,295,040.73 - (26,842.59) - - - - - - 2,268,198.14 -
Guangzhou Egg Shell Network Technology Co., Ltd. 7,248,380.73 - - - - - - - - 7,248,380.73 -
Guangzhou Leji Information Technology Co., Ltd. - - - - - - - - - - 1,801,815.71
Shenzhen Fifth Space Apartment Hotel Management
1,924,328.06 - (183,776.04) - - - - - - 1,740,552.02 -
Co., Ltd.
Guangzhou Fulunzi Information Technology Co., Ltd. 2,589,716.51 - (76,681.39) - - - - - - 2,513,035.12 -
Guangzhou Chuangbianzhe Entry-Exit Service Co.,
1,566,493.26 - 45,301.84 - - - - - - 1,611,795.10 -
Ltd.
Guangzhou Wormhole Network Technology Co., Ltd. 3,576,722.23 - (497,740.54) - - - - - - 3,078,981.69 -
Guangzhou Qinyou Commercial Services Co., Ltd. 1,777,054.07 - - - - - - - - 1,777,054.07 -
Guangzhou Xiaopang Information Technology Co.,
516,348.14 - (15,056.90) - - - - - - 501,291.24 -
Ltd.
Guangzhou Muximei Internet Service Co., Ltd. 1,488,270.23 - (71,639.39) - - - - - - 1,416,630.84 -
Guangzhou Yaji Hotel Management Co., Ltd. 978,324.72 - (46,010.15) - - - - - - 932,314.57 -
Guangzhou Yule Network Co., Ltd. 846,186.96 - - - - - - - - 846,186.96 -
Guangzhou Wo Qu Apartment Management Co., Ltd
23,223,760.93 - (2,323,406.69) - - - - - 20,900,354.24 -
("Guangzhou Wo Qu") (Note (VI) 2)
Others 17,010,105.61 - 3,233,416.52 126,458.24 - - - 4,471,558.49 24,841,538.86 -
Total 416,518,594.99 - 66,728,054.64 126,458.24 - (2,261,899.76) (119,056,970.03) - (937,874.60) 361,116,363.48 4,859,078.00
Note: In the financial reporting period, Xinlu Catering was cancelled after approval, and the Group recovered all the investment funds in Xinlu Catering, amounting to
RMB2,261,899.76.
89
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
9. Fixed assets
(1) Information of fixed assets
RMB
Machinery and Transportation Fixed assets
Item Land out of China Buildings Total
equipment vehicles improvements
I. Original book value
1. 31 December 2017 1,335,412,392.97 8,562,593,129.60 3,194,740,692.35 21,535,477.62 548,559,204.11 13,662,840,896.65
2. Addition
(1) Purchase 621,457.59 10,409,336.26 38,760,869.45 11,187.95 5,395,796.48 55,198,647.73
(2) Transferred from construction in progress - 24,891,142.26 36,587,089.68 - 44,141,432.72 105,619,664.66
(3) Increase for acquisition of subsidiaries
5,545,008.00 25,530,141.00 2,251,525.14 - 656,644.66 33,983,318.80
(Note IV (1))
(4) Translation difference (30,772,236.69) (130,536,482.43) (26,950,454.41) - (17,643,100.68) (205,902,274.21)
3. Deduction
(1) Disposal - - (80,329,131.34) (146,707.00) (2,141,850.83) (82,617,689.17)
(2) Construction clearing adjustment - - (1,068,119.71) - (64,130.77) (1,132,250.48)
4. 30 June 2018 1,310,806,621.87 8,492,887,266.69 3,163,992,471.16 21,399,958.57 578,903,995.69 13,567,990,313.98
II. Accumulated depreciation
1. 31 December 2017 46,589,700.52 4,194,281,308.74 2,252,973,250.77 16,247,676.80 400,822,835.29 6,910,914,772.12
2. Addition
(1) Provision 759,353.07 141,882,528.98 128,678,333.61 1,247,302.78 35,291,051.08 307,858,569.52
(2) Translation difference (1,564,299.71) (59,738,497.31) (21,865,704.11) - (15,044,484.87) (98,212,986.00)
3. Reductions
(1) Disposal or retirement - - (66,707,466.24) (139,371.65) (1,910,644.85) (68,757,482.74)
4. 30 June 2018 45,784,753.88 4,276,425,340.41 2,293,078,414.03 17,355,607.93 419,158,756.65 7,051,802,872.90
III. Provision for impairment loss
1. 31 December 2017 - - 4,608,480.67 - - 4,608,480.67
2. Addition - - - - - -
3. Disposal or retirement - - (3,652,199.79) - - (3,652,199.79)
4. 30 June 2018 - - 956,280.88 - - 956,280.88
IV. Book value
1. 30 June 2018 1,265,021,867.99 4,216,461,926.28 869,957,776.25 4,044,350.64 159,745,239.04 6,515,231,160.20
2. 31 December 2017 1,288,822,692.45 4,368,311,820.86 937,158,960.91 5,287,800.82 147,736,368.82 6,747,317,643.86
(2) Fixed assets leased under finance lease
RMB
Item Original book Accumulated Book value
value depreciation
Land out of China 124,321,572.00 829,573.77 123,491,998.23
Buildings 803,983,657.95 671,196,648.00 132,787,009.95
Machinery and equipment 14,375,497.11 10,924,125.97 3,451,371.14
Total 942,680,727.06 682,950,347.74 259,730,379.32
(3) Fixed assets of which property certificates have not been obtained
At 30 June 2018, subsidiary Smartel Hotel management Co., Ltd. ("Smartel") has buildings whose property
certificates are under transaction with net amount of RMB104,786,760.05.
(4) Pledged fixed assets
At 30 June 2018, the buildings belonging to a subsidiary of the Group with net book balance of
RMB174,547,954.09 were pledged for long-term borrowings. Details are set forth in Note 2 of Note (V) (24).
90
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
10. Construction in progress
(1) Information of construction in progress
RMB
30 June 2018 31 December 2017
Item Provision for Provision for
Book balance Net book value Book balance Net book value
impairment impairment
I. Decoration of fixed assets
Construction in progress of Hotels Investment
Renovation of Shanghai Jing An Temple Campanile 41,764,897.62 - 41,764,897.62 30,466,186.75 - 30,466,186.75
Renovation of Jinguang Linfen Jiefang Road Jin Jiang Inn 23,731,404.88 - 23,731,404.88 22,789,349.88 - 22,789,349.88
Renovation of Tianjin Taierzhuang Road Jin Jiang Inn - - - 22,713,962.97 - 22,713,962.97
Renovation of Nanjing Jiangning the General Road Campanile - - - 21,858,023.12 - 21,858,023.12
Renovation of Tongyuan road Suzhou Industrial Park Jin Jiang Inn 17,399,677.56 - 17,399,677.56 16,313,380.06 - 16,313,380.06
Renovation of Shanghai Jiuting Husong Road Jin Jiang Inn 13,254,879.32 - 13,254,879.32 13,124,965.28 - 13,124,965.28
Renovation of Taizhou Jiaojiang Yunxi Road Inn 15,153,390.76 - 15,153,390.76 - - -
Renovation of Shanghai Mengzi Road Jin Jiang Metropolo 37,280,149.73 - 37,280,149.73 - - -
Other renovation projects of Hotel Investment 19,147,297.15 (4,127,415.28) 15,019,881.87 5,381,443.10 (4,127,415.28) 1,254,027.82
Subtotal 167,731,697.02 (4,127,415.28) 163,604,281.74 132,647,311.16 (4,127,415.28) 128,519,895.88
Construction in progress of GDL
Renovation of Louvre Htels Group 99,896,866.88 - 99,896,866.88 95,164,902.77 - 95,164,902.77
Renovation of Htel du Chateau (Fontainebleau) 16,310,480.73 - 16,310,480.73 9,069,838.02 - 9,069,838.02
Renovation of Hotelière du marché de Rungis 8,583,059.11 - 8,583,059.11 - - -
Renovation of Htels du pont de Suresnes 8,372,661.68 - 8,372,661.68 10,905,691.90 - 10,905,691.90
Renovation of LH 197 SARL 6,690,125.22 - 6,690,125.22 1,614,593.76 - 1,614,593.76
Renovation of LWIH Property Holding Poland 7,186,804.70 (1,112,818.20) 6,073,986.50 7,584,631.36 (1,141,005.16) 6,443,626.20
Renovation of Htelière de Magny (Disney) 4,837,897.61 - 4,837,897.61 1,967,329.27 - 1,967,329.27
Renovation of Cambourget 3,971,645.05 - 3,971,645.05 6,701,076.28 - 6,701,076.28
Renovation of Htel Grill Nice l'Arenas 1,667,299.04 - 1,667,299.04 508,471.60 - 508,471.60
Renovation of Bleu Aix en Provence Galice 1,467,839.58 - 1,467,839.58 1,629,219.02 - 1,629,219.02
Renovation of Gestion Hotel Argenteuil 1,161,575.82 - 1,161,575.82 1,118,352.81 - 1,118,352.81
Renovation of Sarovar 1,098,645.45 - 1,098,645.45 1,149,170.44 - 1,149,170.44
Renovation of Htel Grill Paris Ermont Sannois 1,076,534.45 - 1,076,534.45 2,938,916.29 - 2,938,916.29
Renovation of Htel Gril Torcy - Marne La Vallée 1,042,663.17 - 1,042,663.17 1,884,457.30 - 1,884,457.30
Renovation of Htel Grill Compiegne - - - 2,795,463.60 - 2,795,463.60
Renovation of Htel Grill de Chelles - - - 1,187,661.81 - 1,187,661.81
Other renovations 18,216,780.41 - 18,216,780.41 19,641,036.95 - 19,641,036.95
Subtotal 181,580,878.90 (1,112,818.20) 180,468,060.70 165,860,813.18 (1,141,005.16) 164,719,808.02
Construction in progress of Keystone
Construction of commercial properties 24,258,375.49 - 24,258,375.49 24,024,413.23 - 24,024,413.23
Renovation of 7 Days Inn under direct-sale store 10,335,395.67 - 10,335,395.67 18,960,981.51 - 18,960,981.51
Reception desk management software of Lotus Hotel 2,600,420.00 (2,600,420.00) - 2,600,420.00 (2,600,420.00) -
Other construction in progress of Keystone 5,895,501.37 (80,000.00) 5,815,501.37 21,650,226.49 (80,000.00) 21,570,226.49
Subtotal 43,089,692.53 (2,680,420.00) 40,409,272.53 67,236,041.23 (2,680,420.00) 64,555,621.23
RMB
30 June 2018 31 December 2017
Item Provision for Provision for
Book balance Net book value Book balance Net book value
impairment impairment
Construction in progress of Vienna
Renovation of Shenzhen Airport Road "Vienna Best Sleep" - - - 34,294,359.31 - 34,294,359.31
Renovation of Shanghai Nujiang Road "Vienna International" 57,615,601.58 - 57,615,601.58 20,687,220.67 - 20,687,220.67
Renovation of Suzhou Station North Square "Vienna International" 55,788,473.37 - 55,788,473.37 17,861,328.85 - 17,861,328.85
Renovation of Taiyuan South Station "Vienna International" 24,708,110.17 - 24,708,110.17 11,195,150.11 - 11,195,150.11
Renovation of Xi'an Dayan Pagoda "Vienna International" - - - 11,075,333.21 - 11,075,333.21
Renovation of Shenzhen Bay "Vienna Classic" 5,192,366.73 - 5,192,366.73 3,136,616.73 - 3,136,616.73
Renovation of Shenzhen Shajing Qilin "Vienna Venus" 2,935,655.00 - 2,935,655.00 2,938,705.00 - 2,938,705.00
Renovation of Chengdu Century City Convention &
2,498,638.73 - 2,498,638.73 1,907,118.98 - 1,907,118.98
Expositioon "Vienna International"
Other renovation of Vienna 23,281,435.28 - 23,281,435.28 16,193,446.54 - 16,193,446.54
Subtotal 172,020,280.86 - 172,020,280.86 119,289,279.40 - 119,289,279.40
Construction in progress of Longevity Village
Renovation of Taiyuan Railway Station South Station Shop 5,090,494.40 - 5,090,494.40 - - -
Renovation of Shanghai Nujiang Road Shop 10,998,312.04 - 10,998,312.04 2,310,000.00 - 2,310,000.00
Other projects of Longevity Village 2,848,823.76 - 2,848,823.76 2,266,799.87 - 2,266,799.87
Subtotal 18,937,630.20 - 18,937,630.20 4,576,799.87 - 4,576,799.87
Other construction in progress
Renovation of Changsha Kaifu Metropolo Hotel 104,476,235.77 - 104,476,235.77 104,135,437.70 - 104,135,437.70
Renovation of South Hua Ting Metropolo Hotel - - - 43,502,705.89 - 43,502,705.89
Renovation of Shanghai Huamu "Lavande Hotels and
- - - 33,831,087.01 - 33,831,087.01
JamesJoyceCoffeetel"
Renovation of Shanghai Gonghe New Road Kyriad Hotel 21,037,535.80 - 21,037,535.80 13,693,964.52 - 13,693,964.52
Jin Jiang Inn BI commercial smart platform and others 1,129,170.40 - 1,129,170.40 549,642.11 - 549,642.11
Other construction in progress 16,659,643.22 - 16,659,643.22 1,777,175.54 - 1,777,175.54
Subtotal 143,302,585.19 - 143,302,585.19 197,490,012.77 - 197,490,012.77
Total 726,662,764.70 (7,920,653.48) 718,742,111.22 687,100,257.61 (7,948,840.44) 679,151,417.17
91
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
10. Construction in progress - continued
(2) Movements of significant construction in progress
RMB
Including: Ratio of
Cumulative
Transferred to amount of interest
31 December Acquisition or Transferred to Transferred to Translation amount of
Item long-term prepaid Other changes 30 June 2018 interest capitalization Source of fund
2017 construction fixed assets intangible assets difference interest
expenses capitalization for this
capitalization
for this period period (%)
Renovation of Shanghai Jing An Temple Campanile 30,466,186.75 11,298,710.87 - - - - - 41,764,897.62 - - - Self-financing
Renovation of Shanghai Mengzi Road Metropolo Hotel - 37,280,149.73 - - - - - 37,280,149.73 - - - Self-financing
Renovation of Linfen Jiefang Road Jin Jiang Inn 22,789,349.88 942,055.00 - - - - - 23,731,404.88 - - - Self-financing
Renovation of Suzhou Industrial Park Tongyuan Road Jin Jiang Inn 16,313,380.06 1,086,297.50 - - - - - 17,399,677.56 - - - Self-financing
Renovation of Taizhou Jianjiang Yunxi Road Jin Jiang Inn 525,915.33 14,627,475.43 - - - - - 15,153,390.76 - - - Self-financing
Renovation of Shanghai Jiuting Husong Expressway Jin Jiang Inn 13,124,965.28 129,914.04 - - - - - 13,254,879.32 - - - Shares issuing
Renovation of Wuhan Dingziqiao Jin Jiang Inn - 5,379,521.90 - - - - - 5,379,521.90 - - - Self-financing
Renovation of Ningbo Railway Station (connection) Jin Jiang Inn - 4,681,586.54 - - - - - 4,681,586.54 - - - Self-financing
Renovation of Shenyang Beiling Jin Jiang Inn - 4,386,572.77 - - - - - 4,386,572.77 - - - Self-financing
Renovation of Nanjing Jiangning Shengtai West Road Jin Jiang Inn - 3,864,042.92 - - - - - 3,864,042.92 - - - Self-financing
Renovation of Beijing West Passenger Station Jin Jiang Inn - 3,019,323.70 - - - - - 3,019,323.70 - - - Self-financing
Renovation of Chengdu Dongfeng Bridge Jin Jiang Inn - 2,926,016.79 - - - - - 2,926,016.79 - - - Self-financing
Renovation of Fuzhou Wuyi North Road Jin Jiang Inn - 1,465,784.28 - - - - - 1,465,784.28 - - - Self-financing
Renovation of Tianjin Taierzhuang Road Jin Jiang Inn 22,713,962.97 - (3,696,897.89) - (18,715,496.17) (301,568.91) - - - - - Shares issuing
Renovation of Nanjing Jiangning Jiangjun Avenue Campanile 21,858,023.12 - (4,060,056.80) - (14,986,868.08) (2,811,098.24) - - - - - Self-financing
Renovation of Louvre Htels Group 95,164,902.77 15,819,923.23 - (8,980,525.53) - (225,265.95) (1,882,167.64) 99,896,866.88 - - - Self-financing
Renovation of Htel du Chateau (Fontainebleau) 9,069,838.02 7,464,305.01 - - - - (223,662.30) 16,310,480.73 - - - Self-financing
Renovation of Hotelière du marché de Rungis - 8,639,034.36 - - - - (55,975.25) 8,583,059.11 - - - Self-financing
Renovation of Htels du pont de Suresnes 10,905,691.90 288,946.90 (2,626,340.67) - - - (195,636.45) 8,372,661.68 - - - Self-financing
Renovation of LH 197 SARL 1,614,593.76 5,140,041.82 - - - - (64,510.36) 6,690,125.22 - - - Self-financing
Renovation of LWIH Property Holding Poland 6,443,626.21 84,646.73 (44,872.51) - - - (409,413.93) 6,073,986.50 - - - Self-financing
Renovation of Htelière de Magny (Disney) 1,967,329.27 3,730,428.78 (802,867.95) - - - (56,992.49) 4,837,897.61 - - - Self-financing
Renovation of Cambourget 6,701,076.28 540,063.37 (3,156,934.24) - - - (112,560.36) 3,971,645.05 - - - Self-financing
Renovation of Htel Grill Nice l'Arenas 508,471.60 1,210,932.79 (34,656.30) - - - (17,449.05) 1,667,299.04 - - - Self-financing
Renovation of Bleu Aix en Provence Galice 1,629,219.02 192,105.03 (322,842.61) - - - (30,641.86) 1,467,839.58 - - - Self-financing
Renovation of Gestion Hotel Argenteuil 1,118,352.81 80,733.78 (15,472.81) - - - (22,037.96) 1,161,575.82 - - - Self-financing
Renovation of Sarovar 1,149,170.44 17,148.67 - - - - (67,673.66) 1,098,645.45 - - - Self-financing
Renovation of Htel Grill Paris Ermont Sannois 2,938,916.29 2,310.42 (1,819,665.23) - - - (45,027.03) 1,076,534.45 - - - Self-financing
92
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
10. Construction in progress - continued
(2) Movements of significant construction in progress - continued
RMB
Including: Ratio of
Cumulative
Transferred to amount of interest
31 December Acquisition or Transferred to Transferred to Translation amount of
Item long-term prepaid Other changes 30 June 2018 interest capitalization Source of fund
2017 construction fixed assets intangible assets difference interest
expenses capitalization for this
capitalization
for this period period (%)
Construction of commercial properties 24,024,413.23 233,962.26 - - - - - 24,258,375.49 - - - Self-financing
Ordinary room upgrading of "7 Days" Chain Sotre 6,365,596.95 5,142,890.44 - - (2,587,204.20) - - 8,921,283.19 - - - Self-financing
Renovation of “7 Days TUP” 12,883,578.89 1,283,344.26 - - (12,904,138.34) - - 1,262,784.81 - - - Self-financing
Refurbishment of 7 Days Inn under direct-sale store 11,791,625.52 1,672,394.14 - - (13,312,691.99) - - 151,327.67 - - - Self-financing
Renovation of Shanghai Nujiang Road “Vienna International” 20,687,220.67 36,928,380.91 - - - - - 57,615,601.58 - - - Self-financing
Renovation of Suzhou North Square “Vienna International” 17,861,328.85 37,927,144.52 - - - - - 55,788,473.37 - - - Self-financing
Renovation of Taiyuan South Station “Vienna International” 11,195,150.11 13,512,960.06 - - - - - 24,708,110.17 - - - Self-financing
Renovation of Shanghai Nujiang Road “Wudaoxiang” 2,310,000.00 9,408,537.65 - - (720,225.61) - - 10,998,312.04 - - - Self-financing
Renovation of Shenzhen Tanglang “Vienna International” 1,901,684.27 4,943,541.60 - - - - - 6,845,225.87 - - - Self-financing
Haiwan “Vienna Classic” 3,136,616.73 2,055,750.00 - - - - - 5,192,366.73 - - - Self-financing
Taiyuan Railway South Station “Wudaoxiang” - 7,811,472.57 - - (2,720,978.17) - - 5,090,494.40 - - - Self-financing
Shenzhen Hua’nan City “Vienna International” 1,035,874.66 1,952,829.96 - - - - - 2,988,704.62 - - - Self-financing
Renovation of Shenzhen Shajing Qilin "Vienna Venus" 2,938,705.00 - - - - (3,050.00) - 2,935,655.00 - - - Self-financing
Chengdu Century City Convention & Exposition "Vienna 1,907,118.98 591,519.75 - - - - - 2,498,638.73 - - - Self-financing
International"
Shenzhen Airport 1st Road “Vienna International” 34,294,359.31 10,656,470.01 (82,909.41) - (44,867,919.91) - - - - - - Self-financing
Xi'an Dayan Pagoda "Vienna International" 11,075,333.21 7,065,764.97 (240,139.58) - (17,900,958.60) - - - - - - Self-financing
Renovation of Changsha Kaifu Metropolo Hotel 104,135,437.70 340,798.07 - - - - - 104,476,235.77 - - - Self-financing
Renovation of Nanhuating Metropolo Hotel 43,502,705.89 186,558.71 (5,085,978.80) - (38,603,285.80) - - - - - - Self-financing
Renovation of Shanghai Huamu "Lavande Hotels and 33,831,087.01 18,697,247.00 (52,528,334.01) - - - - - - - - Self-financing
JamesJoyceCoffeetel"
Renovation of Shanghai New Asia Pearl “Kyriad” 13,693,964.52 6,734,266.66 - - - - - 20,428,231.18 - - - Self-financing
Project of Jingjiang Inn BI Business Intelligence Platform and others 549,642.11 819,528.29 - (240,000.00) - - 1,129,170.40 - - - Self-financing
Other overseas renovation 25,508,619.65 12,571,184.95 (17,905,840.89) (12,822.09) - (7,701.40) (523,662.55) 19,629,777.67 - - - Self-financing
Other domestic renovation 27,518,382.15 33,017,966.16 (13,195,854.96) (2,334,387.85) (16,698,628.86) - - 28,307,476.64 - - - Self-financing
Total 679,151,417.17 347,852,585.30 (105,619,664.66) (11,567,735.47) (184,018,395.73) (3,348,684.50) (3,707,410.89) 718,742,111.22 - - -
(3) No provision for impairment is made to the construction in progress within the period of the financial statements.
93
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
11. Intangible assets
RMB
Beneficial Right Patent,
Trademark and
Item Land use rights of Long-term Membership relevant rights Total
brand (note)
leases and software
I Carrying amount
1.31 December 2017 363,605,118.73 506,558,560.85 6,139,085,290.19 335,600,000.00 944,282,072.69 8,289,131,042.46
2. Addition
(1)Acquisition - - - - 7,882,137.30 7,882,137.30
(2)Transfer from construction in progress - - - - 11,567,735.47 11,567,735.47
(3) Increase in subsidiary acquisition - - - - 61,611.20 61,611.20
3.Deduction
(1) Disposal - - - - (1,157,516.34) (1,157,516.34)
4. Translation reserve - (991,379.67) (51,312,396.29) - (7,945,373.37) (60,249,149.33)
5.30 June 2018 363,605,118.73 505,567,181.18 6,087,772,893.90 335,600,000.00 954,690,666.95 8,247,235,860.76
II. Accumulated amortization
1.31 December 2017 89,213,784.22 159,598,775.59 167,837.24 29,355,000.00 538,494,466.63 816,829,863.68
2. Addition
(1) Provision 4,475,533.98 22,743,515.61 14,274.96 8,389,999.98 65,467,448.07 101,090,772.60
3. Deduction
(1) Disposal - - - - (263,592.67) (263,592.67)
4. Translation reserve - (71,234.15) - - (6,285,284.93) (6,356,519.08)
5. 30 June 2018 93,689,318.20 182,271,057.05 182,112.20 37,744,999.98 597,413,037.10 911,300,524.53
III. Provision for impairment losses
1.31 December 2017 - - - - - -
2. Addition - - - - - -
3.Deduction - - - - - -
4. 30 June 2018 - - - - - -
IV. Book Value
1. 30 June 2018 269,915,800.53 323,296,124.13 6,087,590,781.70 297,855,000.02 357,277,629.85 7,335,935,336.23
2.31 December 2017 274,391,334.51 346,959,785.26 6,138,917,452.95 306,245,000.00 405,787,606.06 7,472,301,178.78
Note: The Group believes that group brands will bring projected economic benefit inflow to the Group in the
foreseeable future. All the brands’ useful life is infinite except for the trademark of Longevity Village
Catering which is amonized within 10 years.
12. Goodwill
(1) Original carrying amount of goodwill
RMB
Name of the investee and item resulting in goodwill 31 December 2017 Additions Translation difference 30 June 2018
GDL (Note) 4,840,050,720.40 47,047,852.60 (93,851,568.73) 4,793,247,004.27
Shanxi Jinguang Inn Management Co., Ltd. ("Jinguang Inn") 40,171,417.85 - - 40,171,417.85
Smartel 51,785,803.21 - - 51,785,803.21
Shenzhen Duzhihua Inn Management Co., Ltd. ("Duzhihua") 3,740,756.59 - - 3,740,756.59
Keystone 5,766,874,767.03 - - 5,766,874,767.03
Vienna Hotel and Longevity Village Catering 668,816,710.56 - - 668,816,710.56
Total 11,371,440,175.64 47,047,852.60 (93,851,568.73) 11,324,636,459.51
Note: During the reporting period, the amount of EUR 5,710,000.00 or RMB 43,974,994.00 that the
consolidated costs of GDL's business combination of Parcotel Annemasse ("Annemasse"), Golden
Tulip South East Asia Ltd ("GT SEA") not under common control is larger than the share of fair value
of identifiable net assets obtained from the counterparty has been recognized as goodwill. Please refer
to Note (VI) 1. In addition, GDL's management has increased the goodwill of Sarovar Hotels Private
Limited ("Sarovar") and Htels et Préférence totaled EUR 399,000.00 or RMB 3,072,858.60 based on
the finally determined acquisition consideration.
(2) Provision of goodwill impairment
RMB
31 December Translation
Name of the investee and item resulting in goodwill Provision 30 June 2018
2017 difference
Goldmet Inn 19,626,870.92 - - 19,626,870.92
Duzhihua 3,740,756.59 - - 3,740,756.59
Total 23,367,627.51 - - 23,367,627.51
94
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
12. Goodwill - continued
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 2018, carrying amount and impairment allowance for the goodwill allocated to the five asset groups are
as follows:
RMB
Cost Impairment 30 June 2018
Foreign operation and management of limited service hotels segment -GDL 4,793,247,004.27 - 4,793,247,004.27
Domestic operation and management of limited service hotels segment -Keystone 5,766,874,767.03 - 5,766,874,767.03
Domestic operation and management of limited service hotel segment - Vienna Hotel and Longevity Village 668,816,710.56 - 668,816,710.56
Domestic operation and management of limited service hotels segment – Jinguang Inn 40,171,417.85 (19,626,870.92) 20,544,546.93
Domestic operation and management of limited service hotels segment – Smartel 51,785,803.21 - 51,785,803.21
Domestic operation and management of limited service hotels segment – Duzhihua 3,740,756.59 (3,740,756.59) -
Total 11,324,636,459.51 (23,367,627.51) 11,301,268,832.00
Key assumption and basis for determine the recoverable amount of the above asset group:
A. Asset group: GDL
Recoverable amount of asset group GDL is determined based on the present value of future cash flow. Future
cash flow is determined according to the financial budget for the period from 2018 to 2022 approved by the
management. Key assumptions used for the estimation of the present value of future cash flow are: in light of
historical result of the asset group and the market development, the estimated revenue growth rate (2018 to
2022: approximately 2.5%, after 2022: approximately 1.4% to 2.0%) and discount rate (directly-operated:
approximately 8.17%, franchise hotels: approximately 10.77%). Among them, guest room revenue growth rate
after 2022 is determined by the inflation rate of the country where the subordinate hotel is operated in.
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. Future cash flow is determined according to the financial budget for the period from 2018 to 2022
approved by the management. Key assumption used in the estimation of present value of future cash flows are:
the estimated guest room revenue growth rate (2018 to 2022: approximately 8.73%, after 2022: approximately
2%) and discount rate (approximately 11.5%) based on historical results of the asset group and estimated market
development. Among them, guest room revenue growth rate after 2022 is determined by the inflation rate.
Management believes any reasonable change of above assumptions will not lead to carrying amount of
Keystone exceeding its recoverable amount.
C. Asset group: Vienna Hotel and Longevity Village
Recoverable amount of Vienna Hotel and Longevity Village asset group was determined based on present value
of estimate future cash flows. Future cash flow is determined according to the financial budget for the period
from 2018 to 2022 approved by the management. Key assumption used in the present value of future cash flows
are: the estimated revenue growth rate (2018 to 2022: approximately 7.45%, after 2022: approximately 2%) and
discount rate (approximately 14.2%) based on historical results of the asset group and estimated market
development.
Management believes any reasonable change of above assumptions will not lead to carrying amount of Vienna
Hotel and Longevity Village exceeding its recoverable amount.
95
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
12. Goodwill - continued
(2) Provision of goodwill impairment - continued
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: Jinguang Inn and Duzhihua
Recoverable amount of Jinguang Inn and Duzhihua was determined based on present value of future cash flows.
Future cash flows were estimated based on financial budget from 2018 through 2022 approved by management.
Key assumptions used in determination of present value of future cash flows also include estimated revenue
growth rate and discount rate based on historical result of the asset group and the estimated market
development.
For Goldmet Inn and Duzhihua asset groups, the management made the provision for the amount of goodwill
based on the above calculation results.
13. Long-term prepaid expenses
RMB
Other deduction Translation
Item 31 December 2017 Addition (Note 1) Amortization 30 June 2018
(Note2) difference
Leasehold improvement 2,243,660,036.39 120,226,090.93 (221,623,036.38) (26,710,261.37) (1,634,133.79) 2,113,918,695.78
Leasehold decoration 383,512,983.14 68,859,211.09 (57,841,155.55) (13,870,579.50) - 380,660,459.18
Prepaid rental and others 45,654,665.22 1,243,899.01 - (4,199,344.19) - 42,699,220.04
Total 2,672,827,684.75 190,329,201.03 (279,464,191.93) (44,780,185.06) (1,634,133.79) 2,537,278,375.00
Note 1: The addition includes amount transferred from construction in progress amounting to
RMB184,018,395.73, increase from acquisition amounting to RMB2,499,903.25 and increase from
construction completion amounting to RMB3,810,902.05.
Note 2: Other deduction includes decrease of long-term prepaid expenses arising from construction completion
of RMB15,293,752.06, decrease of carry-forward of rents prepaid over one year amounting to RMB
4,199,344.19, decrease of long-term prepaid expense for impairment provision amounting to
RMB25,010,143.30 and disposal of long-term prepaid expense amounting to RMB276,945.51.
96
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
14. Deferred tax assets/ liabilities
(1) Deferred tax assets before offsetting are set below:
RMB
30 June 2018 31 December 2017
Deductible Deductible
Item Deferred Deferred
temporary temporary
tax assets tax assets
differences differences
Employee benefits payable 189,537,387.86 48,245,203.93 174,495,292.00 46,287,180.47
Provisions 135,729,085.11 33,960,071.77 128,958,457.76 32,239,614.45
Advances of membership card and deferred revenue on membership points 88,863,490.44 22,215,872.61 87,537,330.57 21,880,600.23
Rent adjustment with straight-line mehod 340,111,509.04 85,027,877.27 346,459,715.44 85,912,228.79
Government grants 8,031,664.75 2,007,916.19 86,720,714.11 21,680,176.34
Provision for impairment loss of assets 197,871,633.94 49,467,908.48 170,021,069.82 42,505,267.45
Fixed assets depreciation differences between tax base and accounting base 9,728,392.92 2,432,098.23 11,477,286.68 2,869,321.67
Deductible loss 2,261,499,461.99 581,714,107.38 2,089,081,159.83 595,336,914.21
Capitalized expenses 28,454.18 7,113.55 48,470.61 12,117.65
Changes in fair value of available-for-sale financial assets recognized
- - 82,261,522.50 -
in other comprehensive income
Others 34,210,832.70 8,212,697.17 45,172,611.70 11,459,863.98
Total 3,265,611,912.93 833,290,866.58 3,222,233,631.02 860,183,285.24
(2) Deferred tax liabilities before offsetting are set below:
RMB
30 June 2018 31 December 2017
Item Taxable Taxable
Deferred Deferred
Temporary Temporary
tax liabilities tax liabilities
differences differences
Changes in fair value of available-for-sale financial assets recognized
339,140,416.03 84,785,104.04 429,316,014.39 107,329,003.63
in other comprehensive income
Adjustment of fair value of assets derived from business combination
8,990,685,794.88 2,371,246,578.63 9,230,122,556.48 2,483,847,898.20
involving enterprises not under common control
Financing lease fee 95,210,582.59 24,583,372.43 91,416,451.06 26,437,637.65
Fixed assets depreciation differences between tax base and accounting
117,110,905.16 30,238,035.71 122,570,361.94 35,447,348.67
base
Others 94,646,258.91 24,434,601.49 92,025,479.37 26,595,478.81
Total 9,636,793,957.57 2,535,287,692.30 9,965,450,863.24 2,679,657,366.96
(3) Deferred tax assets or liabilities after offsetting are set below:
RMB
30 June 2018 31 December 2017
Offsetting between Deferred tax assets Offsetting between Deferred tax assets
Item deferred tax assets or Deferred tax deferred tax assets or Deferred tax
and deferred tax liabilities after and deferred tax liabilities after
liabilities offsetting liabilities offsetting
Deferred tax assets 239,297,067.09 593,993,799.49 245,185,353.32 614,997,931.92
Deferred tax liabilities 239,297,067.09 2,295,990,625.21 245,185,353.32 2,434,472,013.64
(4) Details of unrecognized deferred tax assets:
RMB
Item 30 June 2018 31 December 2017
Deductible losses 1,114,912,218.28 983,353,326.19
Deductible temporary differences 62,848,612.98 49,819,144.65
Total 1,177,760,831.26 1,033,172,470.84
(5) Deductible losses where no deferred tax assets is recognized will expire as follows:
RMB
30 June 2018 31 December 2017
2018 42,621,901.28 72,997,964.38
2019 142,361,850.01 146,945,318.99
2020 203,382,437.66 204,247,073.37
2021 169,744,190.87 169,744,190.86
2022 351,752,982.94 389,418,778.59
2023 and subsequent years 205,048,855.52 -
Total 1,114,912,218.28 983,353,326.19
97
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
15. Other non-current assets
RMB
Item 30 June 2018 31 December 2017
Rental for use of underground buildings 47,430,992.26 48,165,639.45
Deposits 41,959,461.28 41,629,385.78
Others 342,113.76 432,088.87
Total 89,732,567.30 90,227,114.10
Less: Other non-current assets due within one year - -
Other non-current assets due after one year 89,732,567.30 90,227,114.10
16. Provision for impairment loss of assets
RMB
31 December Translation
Item 2017 Addition Reversal Written-off difference 30 June 2018
I. Bad debt provision 218,113,174.41 17,331,818.74 (764,807.87) (813,161.37) (602,005.72) 233,265,018.19
II. Provision for decline in value of inventories 3,128,627.41 3,946.21 (764.50) (73,870.93) (50,379.40) 3,007,558.79
III. Impairment provision for other current assets 9,326,950.81 - (1,851,666.03) - - 7,475,284.78
IV. Provision for impairment loss of available-for-sale financial assets 2,009,346.35 - - - (1,102,232.98) 907,113.37
V. Provision for impairment loss of held-to- maturity financial assets - - - - - -
VI. Provision for impairment loss of long-term equity investments 4,859,078.00 - - - - 4,859,078.00
VII. Provision for impairment loss of investment property - - - - - -
VIII. Provision for impairment loss of fixed Assets 4,608,480.67 - - (3,652,199.79) - 956,280.88
IX. Provision for impairment loss of construction materials - - - - - -
X. Provision for impairment loss of construction in progress 7,948,840.44 - - - (28,186.96) 7,920,653.48
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 goodwill 23,367,627.51 - - - - 23,367,627.51
XV. Provision for impairment loss of long-term prepaid expenses 29,722,376.03 25,010,143.30 - - - 54,732,519.33
XVI. Impairment provision for other non-current assets 3,377,056.74 - - - - 3,377,056.74
XVII. Others - - - - - -
Total 306,461,558.37 42,345,908.25 (2,617,238.40) (4,539,232.09) (1,782,805.06) 339,868,191.07
17. Short-term borrowings
Short-term borrowings by category:
RMB
Item 30 June 2018 31 December 2017
Credit borrowings - bank 14,935,102.87 1,005,333,514.18
Credit borrowings - other financial institution (Note 1) 10,500,000.00 10,500,000.00
Total (Note 2) 25,435,102.87 1,015,833,514.18
Note 1: It is the short-term borrowing of the Group from Finance Company amounting to RMB10,500,000.00
with annual interest rate of 3.915%.
Note 2: At the end of the reporting period, RMB 14,935,102.87 of the Group's short-term borrowings carries at
a floating interest rate.
18. Notes payable and accounts payable
At 30 June 2018 and 31 December 2017, the balance of the Group’s notes payable is RMB 0.
Details of accounts payable are as follows:
RMB
Item 30 June 2018 31 December 2017
Payables for operation 1,569,650,122.04 1,600,447,881.22
Payables for constructions 461,728,999.39 536,577,137.61
Total 2,031,379,121.43 2,137,025,018.83
98
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
19. Advances from customers
Details of advances from customers are as follows:
RMB
Item 30 June 2018 31 December 2017
Membership card receipts in advance 246,934,527.65 218,496,553.00
Advances for room fee and dining 166,978,793.86 138,518,425.81
Purchase amount received in advance 217,235,008.89 203,740,612.03
Advance for franchise 272,250,518.47 294,722,412.67
Others 43,584,585.51 17,746,460.44
Total 946,983,434.38 873,224,463.95
20. Employee benefits payable
(1) List of employee benefits payable
RMB
Item 31 December 2017 Addition Deduction 30 June 2018
1. Short-term benefits 829,964,262.62 2,163,556,877.12 (2,211,536,945.13) 781,984,194.61
2. Domestic post-employment
68,077,897.43 127,749,816.44 (99,039,292.02) 96,788,421.85
benefits-defined contribution plan
3. Termination benefits 12,934,449.42 1,987,799.05 (5,172,033.87) 9,750,214.60
Total 910,976,609.47 2,293,294,492.61 (2,315,748,271.02) 888,522,831.06
(2) List of short-term employee benefits payable
RMB
Item 31 December 2017 Addition Deduction 30 June 2018
1. Wages or salaries, bonus, 659,946,931.52
1,816,751,302.80 (1,875,907,431.56) 600,790,802.76
allowance, subsidies
2. Staff welfare 714,865.96 65,958,766.13 (66,130,705.67) 542,926.42
3. Domestic social insurance 21,198,826.78 55,922,354.03 (49,178,992.50) 27,942,188.31
Including: Medical insurance 17,250,757.34 47,795,471.49 (42,864,373.69) 22,181,855.14
Work injury insurance 1,096,429.64 2,803,068.43 (2,256,109.93) 1,643,388.14
Maternity insurance 2,851,639.80 5,323,814.11 (4,058,508.88) 4,116,945.03
4. Domestic housing fund 42,794,732.11 41,786,651.38 (26,439,503.22) 58,141,880.27
5. Overseas social insurance 103,110,403.24 173,539,663.05 (184,517,853.61) 92,132,212.68
6. Labor union and education fund 2,189,735.19 9,598,139.73 (9,362,458.57) 2,425,416.35
7. Others 8,767.82 - - 8,767.82
Total 829,964,262.62 2,163,556,877.12 (2,211,536,945.13) 781,984,194.61
(3) Domestic post-employment benefits-defined contribution plan
RMB
Item 31 December 2017 Addition Deduction 30 June 2018
1. Pension insurance 62,134,618.45 123,067,940.26 (94,772,274.27) 90,430,284.44
2.Unemployment insurance 5,943,278.98 4,681,876.18 (4,267,017.75) 6,358,137.41
Total 68,077,897.43 127,749,816.44 (99,039,292.02) 96,788,421.85
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 123,067,940.26 and RMB 4,681,876.18 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 90,430,284.44 and RMB 6,358,137.41 for
pension insurance and unemployment insurance respectively.
99
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
21. Taxes payable
RMB
Item 30 June 2018 31 December 2017
Value added tax 113,651,747.41 93,161,701.85
Enterprise income tax 188,326,981.58 247,879,550.64
Property tax 7,331,126.28 8,591,999.17
Other domestic taxes 17,451,460.63 19,261,561.54
Other foreign taxes 83,608,838.96 41,216,345.28
Total 410,370,154.86 410,111,158.48
22. Other payables
RMB
Item 30 June 2018 31 December 2017
Other payables 1,619,688,461.26 1,282,363,394.50
Interest payable 35,522,951.89 33,494,915.09
Dividends payable 502,414.89 463,047.45
Total 1,655,713,828.04 1,316,321,357.04
(1) Details of other payables are as follows:
RMB
Item 30 June 2018 31 December 2017
Agency fund 893,940,643.96 692,157,385.85
Accrued expenses 242,188,999.09 248,372,715.47
Down payments and deposits 208,768,038.26 178,798,692.47
Accrued taxes for replacement of significant assets and
attached transactions 58,623,448.18 58,623,448.29
Payment for Project Cooperation 30,000,000.00 30,000,000.00
Deposit for construction 18,045,241.41 20,193,377.51
Expenses payable to agency for equity acquisition 4,058,829.10 6,669,598.62
Amount for acquisition of non-controlling 110,500,326.34 -
equity interest of Keystone (Note)
Others 53,562,934.92 47,548,176.29
Total 1,619,688,461.26 1,282,363,394.50
Note: During the reporting period, balances of RMB 110,500,326.34 for the Group to acquire non-controlling
equity interest of the subsidiary Keystone have not paid yet. Please refer to Note VII 2 for details.
(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 Group's 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.
(3) Except for item (2), other payables of the Group mainly include accrues lease expenses, collection charge
on behalf of others, deposits, etc., which are related to daily operation.
100
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
22. Other payables - continued
(4) Interest payable
RMB
Item 30 June 2018 31 December 2017
Interest payable for long-term borrowings 35,514,451.89 32,159,798.26
Interest payable for short-term borrowings 8,500.00 1,335,116.83
Total 35,522,951.89 33,494,915.09
(5) Dividends payable
RMB
Name of entity 30 June 2018 31 December 2017
Dividends payable due to A share shareholders 502,414.89 463,047.45
Total 502,414.89 463,047.45
23. Non-current liabilities due within one year
(1) Details of non-current liabilities due within one year are as follows:
RMB
Item 30 June 2018 31 December 2017
Long-term borrowings due within one year 601,347,907.94 247,253,782.26
Financing lease payable due within one year 12,022,600.51 10,278,627.53
Other long-term payables due within one year 818,710.50 -
Other non-current liabilities due within one year 3,642,200.00 13,153,024.10
Total 617,831,418.95 270,685,433.89
(2) Please refer to Note (V) 24 for the details of long-term borrowings due within one year.
(3) Please refer to Note (V) 25 for the details of financing lease payable and other long-term payables due
within one year.
(4) Please refer to Note (V) 28 for the details of other non-current liabilities due within one year.
24. Long-term borrowings
RMB
Item 30 June 2018 31 December 2017
Pledged borrowings(note 1) 4,659,000,000.00 4,759,000,000.00
Mortgage loan (note 2) 66,076,276.35 74,715,743.91
Credit borrowing(note 3) 6,599,831,025.40 8,398,033,259.28
Guaranteed loans (note 4) 5,884,003,500.00 6,007,771,000.00
Entrusted loans (note 5) 4,500,000.00 4,500,000.00
Total (note 6) 17,213,410,801.75 19,244,020,003.19
Less: Long-term loan due within 1 year 601,347,907.94 247,253,782.26
Long-term loan due after one year 16,612,062,893.81 18,996,766,220.93
101
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
24. Long-term borrowings - continued
Note 1: At the end of the reporting period, the Group obtained borrowings of RMB 4,659,000,000.00 from
Export-Import Bank of China, of which RMB 300,000,000.00 is due within one year. Such borrowing
was pledged by 81.0034% equity of Keystone. The loan term of the borrowing is from 18 February
2016 to 18 February 2022. The annual interest rate is floating, and weighted average interest rate is
3.60%.
Note 2: As at end of the reporting period, the subsidiary of the Group obtained borrowings equivalent to RMB
66,076,276.35 from overseas banks, which including borrowings due within one year equivalent to
RMB 7,827,131.31. The relevant subsidiaries pledged their fixed assets as collateral, details are set out
in Note V 9(4). 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: At the end of the reporting period, the Group respectively received borrowings of RMB 400,000,000.00
from China Construction Bank Shanghai Pudong Branch and RMB 600,000,000.00 from Bank of
China Shanghai International Trade Center Branch, with floating annual interest rate within a range
from 3.895% to 3.915% during the reporting period.
At the end of the reporting period, the Group's subsidiary Keystone respectively received borrowings of
RMB 240,000,000.00 from Industrial and Commercial Bank of China and RMB 920,000,000.00 from
Shanghai Pudong Development Bank Shanghai Zhabei Branch (the amount due within one year is
RMB 240,000,000.00), with floating annual interest rate at 4.275% during the reporting period.
At the end of the reporting period, the Group's subsidiary Sailing Investment received borrowings of
EUR 500,000,000.00 (equivalent to RMB 3,825,750,000.00) from the related party Master Melon
Capital with a loan term from 15 May 2017 to 10 May 2022, carried at a financing cost of 1.17%.
At the end of the reporting period, the Group's overseas subsidiaries received a foreign currency
borrowing equivalent to RMB 73,641,025.40 from an overseas bank, including borrowings amounting
to RMB 817,776.63 which will fall due within one year.
During the reporting period, the Group's borrowings obtained from Finance Company of credit
borrowings is RMB 540,440,000.00 with an annual interest rate of 4.0375%, including borrowings
amounting to RMB 37,400,000.00 which will fall due within one year.
Note 4: At the end of the reporting period, the Group's subsidiaries respectively received a borrowing of EUR
379,000,000.00 (equivalent to RMB 2,899,918,500.00) from the Bank of China Shanghai Branch, with
a loan term from 17 November 2017 to 29 April 2022, with an annual interest rate of 1.10% and a
management fee rate of 0.20%; a borrowing of EUR 20,000,000.00 (equivalent to RMB
153,030,000.00) from the Bank of China Paris Branch, with a loan term from 1 November 2017 to 2
April 2022, with an annual interest rate of 1.20% and a management fee rate of 0.10%; a borrowing of
EUR 370,000,000.00 (equivalent to RMB 2,831,055,000.00), with a loan term from 17 November 2017
to 16 November 2022, with an annual interest rate in the first three years of 1.00% and EURIBOR plus
1.00% in the following two years. The weighted average interest rate during the reporting period is 1.00%
and the management fee rate is 0.30%. Among them, the borrowing of RMB 15,303,000.00 will fall
due within one year. All of the above borrowings are guaranteed by Jinjiang International.
Note 5: As at end of the reporting period, Shenyang Nonstaple Food Group (a subsidiary of Hotel Investment)
obtained a borrowing of RMB 4,500,000.00 from Shenyang Nonstaple Food Group with a loan term
from 25 December 2017 to 25 December 2020 and an annual interest rate of 1.2%.
Note 6: It includes borrowing of RMB 9,546,631,740.74 which carries at a floating interest rate.
102
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
25. Long-term payables
(1) Nature of long-term payables are as follows:
RMB
Item 30 June 2018 31 December 2017
Finance lease (Note 1) 164,192,509.58 146,978,739.96
Acquisition of minority equity payment payables of Htels et Préférence (Note 2) 9,179,688.19 9,110,932.97
Acquisition of minority equity of Sarovar (Note 3) 84,211,736.13 99,136,023.80
Acquisition of GT SEA (Note (VI) 1 (1)) 8,217,711.00 -
Others 22,954.49 31,209.20
Total 265,824,599.39 255,256,905.93
(2) Details of long-term financial lease payables are as follows:
RMB
30 June 2018 31 December 2017
1st year subsequent to the balance sheet date 12,962,214.24 11,292,565.79
2nd year subsequent to the balance sheet date 12,726,663.57 11,351,082.65
3rd year subsequent to the balance sheet date 12,866,256.99 11,593,909.73
4-5th year subsequent to the balance sheet date 26,224,561.50 23,139,592.00
Subsequent periods 178,750,940.04 157,637,183.39
Total minimum lease payment 243,530,636.34 215,014,333.56
Less: Unrecognized financing costs 67,315,526.25 57,756,966.07
Finance lease payables 176,215,110.09 157,257,367.49
Including: finance lease payable due within one year 12,022,600.51 10,278,627.53
Finance lease payable due after one year 164,192,509.58 146,978,739.96
There is no guarantee from third party for the Group's finance lease.
Note 1: Finance lease payables of RMB 145,041,834.00 is carried at a floating interest rate, and the Group has
purchased an interest rate swap agreement for RMB 113,066,215.50 of the finance lease payables.
Details are set out in Note (V) 49.
Note 2: It is the final payment which is unpaid when the Group's subsidiary GDL acquires equity interest of
Htels et Préférence. Such payment will be determined based on the earnings before interest, taxes,
depreciation and amortization (EBITDA) in 2019 and the corporation value at the end of 2019 of
Htels et Préférence and it is expected to be paid in 2020. At the end of the reporting period, the fair
value of above amounts is equivalent to RMB 9,179,688.19.
Note 3: The Group's subsidiary GDL acquired 74% equity of Sarovar in 2017. In accordance with equity
acquisition agreement, minority shareholders of Sarovar can start to exercise power since March 2020
to require GDL to acquire the remaining 26% of equity interest. Acquisition consideration is
determined based on EBITDA of Sarovar for the period of 12 consecutive months starting from one
month prior to execution of power made by minority shareholders. At the end of the reporting period,
the fair value of acquisition consideration is equivalent to RMB 84,211,736.13.
26. Long-term employee benefits payable
(1) Long-term employee benefits payable
RMB
Item 30 June 2018 31 December 2017
Post-employment benefits – Net liabilities derived from defined benefit plan (Note) 64,870,080.23 59,112,683.77
Total 64,870,080.23 59,112,683.77
Note: It is determined by GDL based on salary agreement, length of service and salary levels of employees in
the country, industry and the Company.
103
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
26. Long-term employee benefits payable - continued
(2) Changes in defined benefit plan
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
I. Opening balance 59,112,683.77 49,009,564.56
II. Defined benefit costs recognized in profit and loss for the current period 3,431,523.73 3,452,806.92
1. Service cost for the current period 3,214,159.42 3,081,811.32
2. Net amount of interest 217,364.31 370,995.60
III. Other changes (204,621.42) 2,037,245.93
1. Considerations paid upon settlement (204,621.42) (1,000,337.14)
2. Increase arising from combination - 3,037,583.07
IV. Translation difference 2,530,494.15 3,186,907.15
V. Closing balance 64,870,080.23 57,686,524.56
Contents of defined benefit plans and related risks, and its impact over the company's future cash flows, timing
and uncertainty:
The defined benefit plans expose GDL to actuarial risks such as interest rate risk, longevity risk and currency
inflation risks. The decrease in yields of government bonds will lead to increase in present value of defined
benefit plans obligations which is calculated based on the best estimates of participating employees' mortality
rate. As such, an increase of expected life expectancy will increase the plan's liability. Besides, the present value
of defined benefit plans is correlated with future payment criteria of the plan which will be determined based on
the currency inflation rate. Therefore, an increase of currency inflation rate will increase the plan's liability.
GDL hired SPAC company to estimate present value of above retirement benefit plan by actuary in accordance
with the projected unit credit method. Currency inflation rate and mortality rate are used to estimate the future
cash outflows to determine the present value of the plan at discounted rate which is determined based on the
defined benefit obligation period and market yield rate matched with the currency high quality corporate bonds
in an active market at the balance sheet date. GDL recognizes liabilities based on the actuarial result, and gains
or losses arising from actuary is included in other comprehensive income and will not be reversed to profit or
loss. Past service cost is included in profit or loss for the period when the modification to the plan is made. Net
interest is determined by net liabilities of defined benefit plans multiplying proper discount rate.
Discount rate, currency inflation rate and mortality rate are used as significant assumptions in the determination
of present value of defined benefit plans obligations. The discount rate and currency inflation rate are both
1.75%. The mortality rate assumption is made based on average remaining life expectancy expected for male
employees retied at the age of 65 and female employees retired at the age of 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.
The following sensitivity analysis is based on reasonable changes incurs at end of the reporting period (all of
other assumption remain unchanged):
When the discount rate is increased (decreased) by 0.50%, the present value of defined benefit plans
decrease RMB 4,095,952.43 (increase by RMB 3,696,956.30).
When the currency inflation rate is increased (decreased) by 0.50%, the present value of defined benefit
plans increase RMB 112,458.41 (decrease by RMB 120,587.45).
When the projected growth rate of employment benefits is increased (decreased) by 0.50%, the present
value of defined benefit plans increase RMB 3,508,220.60 (decrease by RMB 3,848,314.99).
104
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
26. Long-term employee benefits payable - continued
(2) Changes in defined benefit plan - continued
Since part of assumptions may be correlative, it is unlikely that one assumption will change in an isolated
manner. As such, above sensitivity analysis cannot necessarily reflect actual changes of present value of defined
benefit plans.
In sensitivity analysis above, the calculation method of net liability from defined benefit plans is the same
calculation method used to recognize related liability in balance sheet at the end of the period.
Compared with previous years, method and assumptions adopted to analyze sensitivity remain unchanged.
27. Provisions
RMB
Item 30 June 2018 31 December 2017
Pending litigation (Note1) 32,769,647.11 32,917,826.55
Provision for operating risks (Note2) 23,531,830.69 25,680,177.66
Total 56,301,477.80 58,598,004.21
Note 1: At the end of the reporting period, GDL was faced with charges against labor disputes. Therefore, GDL
management made provision of EUR 1,393,928.50, equivalentt to RMB 10,665,643.92, based on
estimation on the estimates of prosecution results.
At the end of this reporting period, the Group's subsidiary Keystone is prosecuted as a result of matters
such as house leasing and platform service fee. Keystone's management made a provision for the
liability of RMB 22,104,003.19 in accordance with the estimates of prosecution results.
Note 2: It mainly related to claim estimated losses for disputes with third parties occurred in the operating
activities
28. Other non-current liabilities
RMB
Item 30 June 2018 31 December 2017
Government grant 7,999,663.47 86,720,714.11
Marketing fund (Note 1) 71,435,320.42 63,432,027.77
Membership credit 60,752,154.96 50,325,028.92
Loss of long-term lease (Note 2) 8,563,820.06 9,724,034.84
Others 4,247,584.31 4,135,858.79
Total 152,998,543.22 214,337,664.43
Less: non-current liabilities due within one year 3,642,200.00 13,153,024.10
Non-current liabilities due after one year 149,356,343.22 201,184,640.33
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.
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.
105
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
28. Other non-current liabilities - continued
Items involving in government grants:
RMB
Amount recognized in
31 December Amount of other income and 30 June Related to
Item
2017 added grants gains on disposal of 2018 asset/income
assets
Information platform funds 3,900,000.00 - 1,950,000.00 1,950,000.00 Related to asset
Xincheng Hotel project funds 4,455,548.72 - 330,550.00 4,124,998.72 Related to asset
Smartel project funds 2,266,500.00 - 416,500.00 1,850,000.00 Related to asset
Grants of Jin Jiang Inn Suzhou Amusement Park (Note (V) 42) 76,000,000.00 - 76,000,000.00 - Related to income
Others 98,665.39 - 24,000.64 74,664.75 Related to asset
Total 86,720,714.11 - 78,721,050.64 7,999,663.47
29. Share capital
RMB
Changes for the period
31 December Non-public new Capitalisation of 30 June
2017 issue of shares Bonus issue surplus reserve Others Subtotal 2018
I. Restricted tradable shares
1. State-owned shares - - - - - - -
2. State-owned legal person shares 117,848,242.00 - - - - - 117,848,242.00
3. Other domestic shares 15,244,482.00 - - - - - 15,244,482.00
4. Other foreign shares 20,325,976.00 - - - - - 20,325,976.00
Total restricted tradable shares 153,418,700.00 - - - - - 153,418,700.00
II. Tradable shares
1. Ordinary shares denominated in RMB 648,517,740.00 - - - - - 648,517,740.00
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 804,517,740.00 - - - - - 804,517,740.00
III. Total shares 957,936,440.00 - - - - - 957,936,440.00
RMB
Changes for the period
31 December Non-public new Capitalisation of 30 June
2016 issue of shares Bonus issue surplus reserve Others Subtotal 2017
I. Restricted tradable shares
1. State-owned shares - - - - - - -
2. State-owned legal person shares 219,125,242.00 - - - - - 219,125,242.00
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 shares 354,695,700.00 - - - - - 354,695,700.00
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 957,936,440.00 - - - - - 957,936,440.00
30. Capital reserve
RMB
Item 31 December 2017 Addition Deduction 30 June 2018
Capital premium 8,581,663,647.36 - (666,877,795.13) 7,914,785,852.23
Including: Capital contributed by investors 7,785,762,028.07 - - 7,785,762,028.07
Differences derived from business combination involving enterprises under common control 1,027,136,210.91 - - 1,027,136,210.91
Equity transactions with non-controlling interests (Note (VII) 2) (231,234,591.62) - (666,877,795.13) (898,112,386.75)
Other capital reserve 128,901,643.62 - - 128,901,643.62
Including: Transfer from capital reserve under the previous accounting system 163,502,812.00 - - 163,502,812.00
Other changes in owners' equity of investees except net profit or loss,
(34,601,168.38) - - (34,601,168.38)
other comprehensive income and profit appropriation
Total 8,710,565,290.98 - (666,877,795.13) 8,043,687,495.85
RMB
Item 31 December 2016 Addition Deduction 30 June 2017
Capital premium 8,681,361,436.76 - - 8,681,361,436.76
Including: Capital contributed by investors 7,785,762,028.07 - - 7,785,762,028.07
Differences derived from business combination involving enterprises under common control 1,027,136,210.91 - - 1,027,136,210.91
Equity transactions with non-controlling interests (131,536,802.22) - - (131,536,802.22)
Other capital reserve 163,502,812.00 - (34,601,168.38) 128,901,643.62
Including: Transfer from capital reserve under the previous accounting system 163,502,812.00 - - 163,502,812.00
Other changes in owners' equity of investees except for net profit or loss,
- - (34,601,168.38) (34,601,168.38)
other comprehensive income and profit appropriation
Total 8,844,864,248.76 - (34,601,168.38) 8,810,263,080.38
106
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
31. Other comprehensive income
RMB
Amount incurred in the period
Less: amount
previously
Amount included
Attributable to Attributable to
31 December incurred in other Less: 30 June
Item owners of minority
2017 for current comprehensive Income tax 2018
the company interests after
period before income and expenses
after tax tax
tax transferred to
profit or loss
for the period
I. Other comprehensive income that cannot be subsequently reclassified to profit or loss
Including: Changes of net liability and assets from defined benefit plans (4,243,725.23) - - - - - (4,243,725.23)
II. Other comprehensive income that will be reclassified to profit or loss
Including: Profit or loss on changes in the fair value of available-for-sale financial assets 460,377,881.01 69,462,019.49 77,376,095.35 (22,543,899.59) 3,184,824.00 11,444,999.73 463,562,705.01
Shares of other comprehensive income in the investee that will be reclassified to profit
1,919,511.69 126,458.24 - - 126,458.24 - 2,045,969.93
or loss under equity method
Effective portion of profit or loss from cash flow hedges 1,732,485.17 716,784.47 - 257,204.43 459,580.04 - 2,192,065.21
Translation differences of financial statements denominated in foreign currencies 36,943,589.09 (46,609,016.70) - - (40,904,658.14) (5,704,358.56) (3,961,069.05)
Total 496,729,741.73 23,696,245.50 77,376,095.35 (22,286,695.16) (37,133,795.86) 5,740,641.17 459,595,945.87
RMB
Amount incurred in the period
Less: amount
previously
Amount included
Attributable to Attributable to
31 December incurred in other Less: 30 June
Item owners of minority
2016 for current comprehensive Income tax 2017
the company interests
period before income and expenses
after tax after tax
tax transferred to
profit or loss
for the period
I. Other comprehensive income that cannot be subsequently reclassified to profit or loss
Including: Changes of net liability and assets from defined benefit plans (3,732,448.14) - - - - - (3,732,448.14)
II. Other comprehensive income that will be reclassified to profit or loss
II. Other comprehensive income that will be reclassified to profit or loss 611,354,343.63 (48,682,159.91) 90,275,205.85 (34,739,341.43) (104,218,024.33) - 507,136,319.30
Shares of other comprehensive income in the investee that will be reclassified to profit or
3,500,343.96 186,422.60 - - 186,422.60 - 3,686,766.56
loss under equity method
Effective portion of profit or loss from cash flow hedges 740,086.48 1,278,785.41 - 449,188.41 829,597.00 - 1,569,683.48
Translation differences of financial statements denominated in foreign currencies (10,603,035.07) 60,017,903.23 - - 50,359,415.41 9,658,487.82 39,756,380.34
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
32. Surplus reserve
RMB
Item 31 December 2017 Addition Deduction 30 June 2018
Statutory surplus reserve 473,197,616.85 - - 473,197,616.85
Discretionary surplus reserve 180,681,288.50 - - 180,681,288.50
Total 653,878,905.35 - - 653,878,905.35
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
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 Company’s
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.
33. Retained profits
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Total amount of retained profits at beginning of period 2,165,192,559.23 1,776,723,536.56
Add: Net profit attributable to owners of the Company for the period 503,408,830.91 412,453,689.41
Less: Appropriation to statutory surplus reserve - -
Appropriation to discretionary surplus reserve - -
Declaration of dividends on ordinary shares 536,444,406.40 459,809,491.20
Conversion of ordinary shares' dividends into share capital - -
Retained profits at end of period 2,132,156,983.74 1,729,367,734.77
107
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
34. Operating income and operating costs
(1) Operating income and operating costs
RMB
Period from 1 January 2018 to 30 June 2018 Period from 1 January 2017 to 30 June 2017
Item
Income Cost Income Cost
Principal operating activities 6,939,091,908.41 701,145,623.29 6,288,923,255.28 603,744,233.37
Other operating activities 257,239.92 - 89,895.25 30,888.06
Total 6,939,349,148.33 701,145,623.29 6,289,013,150.53 603,775,121.43
(2) Principal business by segment:
RMB
Period from 1 January 2018 to 30 June 2018 Period from 1 January 2017 to 30 June 2017
Segment
Operating income Operating cost Operating income Operating cost
Hotel operating and management 6,825,512,310.93 648,144,803.45 6,164,205,495.77 544,043,536.49
Food and catering 113,579,597.48 53,000,819.84 124,717,759.51 59,700,696.88
Total 6,939,091,908.41 701,145,623.29 6,288,923,255.28 603,744,233.37
(3) Operating income by area
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Domestic regions of Mainland China 4,961,001,686.98 4,495,089,716.62
Including: Shanghai 776,274,497.51 761,640,301.34
Regions other than Shanghai 4,184,727,189.47 3,733,449,415.28
Overseas regions 1,978,347,461.35 1,793,923,433.91
Total 6,939,349,148.33 6,289,013,150.53
(4) Operating income and costs of limited service hotels operation and management at home and abroad
RMB
Period from 1 January 2018 to 30 June 2018 Period from 1 January 2017 to 30 June 2017
Item
Operating income Operating costs Operating income Operating costs
Rooms 3,664,225,439.57 - 3,553,801,490.05 -
Catering 565,695,926.88 242,441,748.38 546,490,414.70 238,334,307.83
Sales of goods 431,099,390.04 366,909,943.18 310,956,580.86 266,282,638.89
Initial franchise fee 265,882,165.15 - 223,812,839.49 -
Ongoing franchise fee 1,039,599,691.88 - 880,103,700.03 -
Reservation channel fee (Note) 51,396,945.76 - 46,112,420.29 -
Membership cards 168,089,459.29 - 149,523,361.80 -
Lease of properties 67,408,076.11 30,826,255.64 65,175,308.59 31,948,399.94
Others 572,115,216.25 7,966,856.25 388,229,379.96 7,478,189.83
Total 6,825,512,310.93 648,144,803.45 6,164,205,495.77 544,043,536.49
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.
108
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
34. Operating income and operating costs - continued
(5) Operating income and costs of catering business
RMB
Period from 1 January 2018 to 30 June 2018 Period from 1 January 2017 to 30 June 2017
Item
Operating income Operating costs Operating income Operating costs
Chain restaurants 22,663,781.90 7,705,120.78 44,816,064.24 20,546,364.39
Groups meal 80,171,646.82 37,283,992.96 71,662,190.63 33,172,859.27
Sales of food 9,773,089.75 7,982,108.62 6,668,678.05 5,410,303.21
Others 971,079.01 29,597.48 1,570,826.59 571,170.01
Total 113,579,597.48 53,000,819.84 124,717,759.51 59,700,696.88
(6) Details of the revenue from top five customers of the Group are as below:
RMB
Ratio against
the Group's
Name of customers Operating income
total operating
income (%)
Shanghai Debi Investment Management Co., Ltd. 18,321,318.51 0.26
WIKA 10,041,090.00 0.14
SYSCO FRANCE 9,826,990.00 0.14
BRASSERIE HEINEKEN 4,855,900.00 0.07
NESTLE WATERS 2,915,730.00 0.04
Total 45,961,028.51 0.65
35. Costs and expenses classified by nature
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Cost of goods sold 699,371,598.44 594,953,074.80
Employee benefits 2,302,021,688.91 2,022,851,633.20
Including: Wages or salaries 1,822,388,219.93 1,603,587,885.31
Social insurance and housing fund 400,932,766.52 334,419,811.90
Welfare and Other expenditures 78,700,702.46 84,843,935.99
Energy fees and materials consumption 459,138,819.28 464,238,640.42
Depreciation and amortization 688,413,534.05 769,139,690.83
Rental of operating lease 905,309,605.03 901,561,794.71
Repair and maintenance fee 224,038,872.27 206,512,831.99
Others 942,828,149.95 788,372,533.89
Total operating costs, selling expense,
6,221,122,267.93 5,747,630,199.84
administrative expense and R&D expenses
36. Taxes and levies
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Urban maintenance and construction tax 11,513,659.27 10,696,176.49
Education surcharges 7,716,659.38 6,768,443.21
Property tax 88,881,536.08 86,626,484.22
Others 3,855,987.95 2,524,364.84
Total 111,967,842.68 106,615,468.76
109
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
37. Financial expense
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Interest expenses 260,142,174.91 297,470,093.36
Less: Interest expenses capitalized - -
Less: Interest income 97,897,663.01 120,393,846.73
Foreign exchange difference 6,837,792.64 16,281,198.68
Less: Capitalized foreign exchange difference - -
Others 32,036,062.98 25,412,152.69
Total 201,118,367.52 218,769,598.00
38. Impairment losses of assets
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
I. Impairment loss (reversal) of bad debt 16,567,010.87 (2,397,157.98)
II. Losses (reversal) of decline in value of inventories 3,181.71 302,411.46
III. Impairment loss of available-for-sale financial assets - -
IV. Impairment loss of long-term equity investments - -
V. Impairment loss of investment property - -
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 losses for long-term prepaid expenses 25,010,143.30 11,317,181.97
XI. Impairment loss (reversal) of other current assets (1,851,666.03) -
Total 39,728,669.85 13,767,386.24
39. Other income
(1) Details of other income are as follows:
RMB
Period from Period from Amount recognized in
Item 1 January 2018 to 1 January 2017 to non-recurring profit or
30 June 2018 30 June 2017 loss of the period
Government grant 25,379,329.13 18,100,017.83 25,379,329.13
Total 25,379,329.13 18,100,017.83 25,379,329.13
(2) Government grants recognized in profit or loss are as follows:
RMB
Period from Period from
Related to assets/
Item 1 January 2018 to 1 January 2017 to
Related to income
30 June 2018 30 June 2017
Industry support funds 22,674,278.49 14,537,200.00 Related to income
Information platform funds 1,950,000.00 1,950,000.00 Related to assets
Amortization of boiler subsidy 8,000.64 8,000.64 Related to assets
Xincheng Hotel support funds 330,550.00 342,650.00 Related to assets
Smartel support funds 416,500.00 510,000.00 Related to assets
Subsidy for brand innovation - 752,167.19 Related to income
Total 25,379,329.13 18,100,017.83
110
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
40. Investment income
(1) Details of investment income are as follows:
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Investment income from long-term equity investments under equity method 66,728,054.64 53,411,404.56
Investment income from available-for-sale financial assets 82,601,549.81 71,478,679.48
Gains on disposal of available-for-sale financial assets 77,332,976.60 101,583,934.65
Investment income from disposal of joint ventures (Note) 9,095,353.40 -
Investment income from disposal of subsidiaries - 33,507,766.71
Others 118,785.85 1,225,277.03
Total 235,876,720.30 261,207,062.43
Note: During the reporting period, the Group's subsidiary GDL signed an equity transfer agreement with
another shareholder who originally held 50% equity interest in the joint venture GT SEA on acquisition
of the remaining 50% equity interest of GT SEA. On the acquisition date, GDL recognized the
difference between fair value and costs of the original 50% equity interest as investment income.
(2) Investment income from long-term equity investment under equity method
RMB
Period from Period from
Investee 1 January 2018 to 1 January 2017 to Reasons for the changes
30 June 2018 30 June 2017
Shanghai Kentucky Fried Chicken Co., Ltd. 62,980,270.33 56,616,425.56 Profit increased because of the increase in sales
Shanghai New Asia Fulihua Catering Co., Ltd. 3,877,060.36 3,699,099.74 Profit increased because of the increase in sales
Shanghai Xinlu Catering Development Co., Ltd. (73,567.01) 133,721.14 Profit decreased because of the increase in costs and expenses
Shanghai Qicheng Network Technology Co., Ltd. (2,560,278.20) (8,296,229.33) Losses decreased because of the increase in operating income
Shanghai Yoshinoya Co., Ltd. (452,053.28) 9,393.06 Losses increased because of the decrease in operating income
Shanghai Xinjin Hotel Management Co., Ltd. 308,352.59 403,535.29 Profit decreased because of the decrease in operating income
Keystone's associates (3,389,052.23) (969,053.85) Losses increased because of the increase in costs and expenses
GDL's associates 6,037,322.08 1,814,512.95 Profit increased because of the increase in sales
Total 66,728,054.64 53,411,404.56
(3) Investment income from available-for-sale financial assets
RMB
Period from Period from
Investee 1 January 2018 to 1 January 2017 to Reasons for the changes
30 June 2018 30 June 2017
Hangzhou Kentucky Fried Chicken Co., Ltd. 45,927,333.18 38,964,078.50 Dividend declared increased
Chang Jiang Security Co., Ltd. 6,000,000.00 7,950,000.00 Shares decreased
Suzhou Kentucky Fried Chicken Co., Ltd. 20,399,349.80 15,461,142.53 Dividend declared increased
Wuxi Kentucky Fried Chicken Co., Ltd. 9,168,683.11 7,125,239.26 Dividend declared increased
Shenwan Hongyuan Securities Co., Ltd. 748,478.20 1,496,956.40 Dividend declared decreased
Others 357,705.52 481,262.79
Total 82,601,549.81 71,478,679.48
(4) Investment income from disposal of available-for-sale financial assets
RMB
Period from Period from
Name of available-for-sale financial assets 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Changjiang Securities (Share code:000783) (Note) 77,376,095.35 86,659,256.47
GDL's available-for-sale financial assets (Note (V) (7)) (43,118.75) 14,924,678.18
Total 77,332,976.60 101,583,934.65
Note: In the reporting period, the Group disposed 13,000,000 shares in total of Changjiang Securities.
111
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
41. Profit or loss from changes in the fair value
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Changes in fair value of acquisition balance over non-controlling
12,845,935.20 -
interest of Sarovar and Htels et Préférence (Note (V) 25)
Total 12,845,935.20 -
42. Income (loss) from disposal of assets
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Income from relocation of Jinjiang Inn at Suzhou Amusement Land (Note) 76,054,473.89 -
Income (loss) from disposal of other non-current assets (49,069.25) (13,985,068.85)
Total 76,005,404.64 (13,985,068.85)
Note: During the reporting period, the Group's Jinjiang Inn at Suzhou Amusement Land has been relocated
and the Group has recognized RMB 76,054,473.89 of income from relocation.
43. Non-operating income
(1) Details of non-operating income are as follows:
RMB
Period from Period from Amount recognized in
Item 1 January 2018 to 1 January 2017 to non-recurring profit or
30 June 2018 30 June 2017 loss of the period
Government grant 10,652,460.12 - 10,652,460.12
Compensation that unnecessarily to be paid 4,867,408.48 1,579,112.74 4,867,408.48
Accounts payable exempted - 793,917.68 -
Income from claims 4,771,307.60 2,119,624.31 4,771,307.60
Others 6,419,013.48 7,352,046.59 6,419,013.48
Total 26,710,189.68 11,844,701.32 26,710,189.68
(2) Government grants recognized in profit or loss are as follows:
RMB
Period from Period from
Related to assets/
Item 1 January 2018 to 1 January 2017 to
related to income
30 June 2018 30 June 2017
Awards granted by local government 3,499,652.12 - Related to income
Innovation awards 1,000,000.00 - Related to income
Refunds of taxes 2,075,156.47 - Related to income
Compensations for relocation 2,139,791.00 - Related to income
Other government grants 1,937,860.53 - Related to income
Total 10,652,460.12 -
112
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
44. Non-operating expenses
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Penalty expenses 696,490.29 528,897.51
Accidents 316,830.49 39,655.89
Claimant loss 294,066.40 168.46
Expected losses for pending litigations - 6,000,000.00
Others 3,972,694.55 2,961,956.63
Total 5,280,081.73 9,530,678.49
45. Income tax expenses
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Current income tax calculated according to
235,031,737.90 219,603,659.95
tax laws and relevant regulations
Adjustment of annual filing of income tax in prior period (4,039,010.99) 460,817.65
Deferred income tax (75,959,132.82) (196,902,687.69)
Corporate value-added tax ("CVAT") (Note) 9,403,558.46 (4,367,488.86)
Total 164,437,152.55 18,794,301.05
Reconciliation of income tax expenses to the accounting profit is as follows:
RMB
Period from Period from
1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Total profit 736,949,497.57 469,866,531.93
Deduction of CVAT (Note) (9,403,558.48) 4,367,488.86
Income tax expenses calculated based on tax rate of 25% 181,886,484.77 118,558,505.20
Effect of non-taxable income (38,357,763.78) (35,770,267.22)
Effect of non-deductible cost, expense and loss 17,009,253.78 11,306,195.88
Effect of utilizing deductible loss not recognized for
(4,015,667.12) (9,645,710.08)
deferred tax assets for prior period
Effect of deductible temporary difference or
deductible loss not recognized for 54,512,222.01 40,096,281.52
deferred tax assets for the current period
Changes in opening balances of deferred tax assets/
(56,685,131.22) (111,688,518.33)
liabilities arising from adjustment of tax rate
Effect of utilizing different tax rates by subsidiaries 4,723,206.64 9,844,485.29
Effects of adjusting income tax of prior periods and others (4,039,010.99) 460,817.65
CVAT 9,403,558.46 (4,367,488.86)
Income tax expenses 164,437,152.55 18,794,301.05
Note: In accordance with tax laws of France, CVAT can be presented and charged before income tax.
113
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
46. Notes to items in the cash flow statements
(1) Other cash receipts relating to operating activities
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Government grant and expropriation compensation 37,033,466.05 10,537,200.00
Interest income 423,432,102.06 80,713,256.80
Agency funds and others 154,069,269.37 122,025,465.70
Total 614,534,837.48 213,275,922.50
(2) Other cash payments relating to operating activities
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Rental expenses 790,764,453.60 858,939,690.17
Other payments in administrative expenses and selling expenses 494,747,321.58 463,978,982.50
Payment of bank charges 33,133,677.29 25,461,220.87
Others 65,974,690.71 46,195,947.64
Total 1,384,620,143.18 1,394,575,841.18
(3) Cash receipts relating to other investing activities
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Receipt of relocation fee of Jin Jiang Inn Suzhou Amusement Park - 45,000,000.00
(4) Cash payments for investments
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Capital contribution for setting up Qicheng Network - 100,000,000.00
Investment in equity of Keystone - 1,150,002.00
Total - 101,150,002.00
(5) Other cash payments relating to investing activities
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Agency charges for projects of equity interest acquisitions 2,262,561.98 6,353,619.89
114
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
46. Notes to items in the cash flow statements - continued
(6) Cash receipts from borrowings
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Borrowings from related parties 417,600,000.00 4,052,550,000.00
Borrowings from banks 9,729,371.16 2,165,881,860.49
Total 427,329,371.16 6,218,431,860.49
(7) Other cash receipts relating to financing activities
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Interest income from fixed time deposits pledged for borrowings - 55,310,295.96
Recovery of fixed time deposits pledged for borrowings - 1,417,068,000.00
Total - 1,472,378,295.96
(8) Cash repayments of borrowings
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Repayments of borrowings to bank 3,142,304,260.20 7,657,456,566.03
Repayments of borrowings to related parties 111,100,000.00 1,100,000,000.00
Total 3,253,404,260.20 8,757,456,566.03
(9) Other cash payments relating to financing activities
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Payments for acquisition of minority interests of Keystone 1,094,278,050.05 -
Payments of finance lease 5,646,282.90 5,371,394.21
Payments for withdrawn investments to minority shareholders
- 3,236,256.60
of subsidiaries of GDL
Total 1,099,924,332.95 8,607,650.81
115
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
47. Supplementary information of cash flows
(1) Supplementary information of cash flows
RMB
Period from Period from
Supplementary information 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
1. Reconciliation of net profit to cash flow from operating activities
Net profit 572,512,345.02 451,072,230.88
Add: Provision for asset impairment 39,728,669.85 13,767,386.24
Depreciation of fixed assets 307,858,569.52 364,937,645.71
Amortization of intangible assets 101,090,772.60 101,106,336.28
Amortization of long-term deferred expenses 279,464,191.93 303,095,708.84
Loss(Income) on disposal of fixed assets, intangible assets and other
(76,005,404.64) 13,985,068.85
long-term assets
Loss (income) from changes in fair value (12,845,935.20) -
Financial expenses 260,142,174.91 213,802,749.44
Investment loss(income) (235,876,720.30) (261,207,062.43)
Decrease(increase) in deferred tax assets 19,520,934.69 (32,596,856.91)
Increase (decrease) in deferred tax liabilities (95,480,067.51) (164,305,830.78)
Decrease(increase) in inventory (6,530,951.29) 7,296,916.22
Decrease(increase) in operating receivables 274,441,249.79 (123,061,366.45)
Increase(decrease) in operating payables 113,904,496.47 509,318,309.63
Net cash flows from operating activities 1,541,924,325.84 1,397,211,235.52
2. Significant investing and financing activities that do not involve cash
receipts and payments
Capital transferred from debts - -
Convertible corporate bonds due within half year - -
Fixed assets under finance lease - -
3. Net changes in cash and cash equivalents:
Cash at end of period 6,521,555,005.94 5,239,039,725.54
Less: Cash at beginning of period 9,879,461,634.13 6,358,092,062.93
Add: Cash equivalents at end of period - -
Less: Cash equivalents at beginning of period - -
Net increase(decrease) in cash and cash equivalents (3,357,906,628.19) (1,119,052,337.39)
(2) Net cash payment to acquire subsidiaries during the reporting period
RMB
Amount
Cash and cash equivalents payment to this year’s business combination 13,428,591.86
-Annemasse 13,428,591.86
-GT SEA -
Less: cash and cash equivalents of subsidiaries on the acquisition date 1,063,105.30
-Annemasse 151,222.77
-GT SEA 911,882.53
Add: Cash or cash equivalents paid for business combination occurred in the previous
331,160.20
period in the current period
-Htels & Préférence 331,160.20
Net cash payment to acquire subsidiaries 12,696,646.76
116
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
47. Supplementary information of cash flows - continued
(3) Composition of cash and cash equivalents
RMB
Item 30 June 2018 31 December 2017
I. Cash 6,521,555,005.94 9,879,461,634.13
Including: Cash on hand 12,714,367.78 19,044,894.22
Bank deposits that can be readily withdrawn on demand 6,508,840,638.16 9,860,416,739.91
Other currency fund that can be readily withdrawn on demand - -
II. Cash equivalents - -
III. Closing balance of cash and cash equivalents 6,521,555,005.94 9,879,461,634.13
48. Assets with restricted ownership or right of use
RMB
Closing balance of Reason of
Item
book value restriction
Cash and bank balances(Note(V)1(Note 1) 515,085.00 Guarantee deposit
Net assets of Keystone (Note(V)24 (Note 1)) 3,183,994,577.46 Pledged
Fixed assets(Note(V)9(4)) 174,547,954.09 Mortgaged
Fixed assets(Note(V)9(3)) 104,786,760.05 Without certificate
Total 3,463,844,376.60
49. 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. For the period from 1 January to 30 June 2018, the Group designated as hedging instrument its
purchased interest swaps in which the terms and conditions are identical with those in finance lease agreements.
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, details are as follows:
RMB'000
For the year ended Nominal
30 June 2018 amount Maturity date Conditions and terms of interest rate swaps
Interest swap 121,459.48 28/06/2025 Swapping Euribor3M+2.56% to fixed interest rate of 1.40%
50. 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 503,408,830.91 412,453,689.41
Including: Net profit attributable to continuous operation 503,408,830.91 412,453,689.41
Operating
117
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
V. NOTES TO ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS - continued
50. Calculation of basic earnings per share and diluted earnings per share - continued
When calculating basic earnings per share, the denominator is the weighted average of issued ordinary shares.
Details are as follows:
RMB
Amount incurred Amount incurred
in the current period in the prior period
Number of ordinary shares issued at beginning of the period 957,936,440.00 957,936,440.00
Add: weighted ordinary shares issued for the period - -
Number of ordinary shares issued at end of the period 957,936,440.00 957,936,440.00
Earnings per share
RMB
Amount incurred Amount incurred
in the current period in the prior period
Calculation based on net profit attributable to the Company
Basic earnings per share 0.5255 0.4306
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 0.5255 0.4306
Diluted earnings per share(note) N/A N/A
Note: The Group holds no diluted ordinary shares.
VI. CHANGES IN CONSOLIDATION SCOPE
1. Subsidiaries acquired through a business combination not involving enterprises under common
control
(1) Subsidiaries acquired through a business combination not involving enterprises under common control for
the period
Annemasse
On 29 June 2018, the Group's subsidiary GDL entered into an "Equity Transfer Agreement" with former
shareholders of Annemasse to acquire 100% of equity in Annemasse at a consideration of EUR 1,743,700
equivalent to RMB 13,428,591.86. On 29 June 2018, this equity transfer was completed.
118
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
VI. CHANGES IN CONSOLIDATION SCOPE - continued
1. Subsidiaries acquired through a business combination not involving enterprises under common
control - continued
(1) Subsidiaries acquired through a business combination not involving enterprises under common control for
the period - continued
GT SEA
In April 2018, the Group's subsidiary GDL entered into an "Equity Transfer Agreement" with another
shareholders of GT SEA, a joint venture where GDL held 50% of equity, to acquire the remaining 50% of
equity in GT SEA. In accordance with the agreement, the consideration for such acquisition will be paid up in
further 10 years. As at 30 April 2018, due to the completion of the closing of aforementioned equity, GT SEA
became GDL’s wholly-owned subsidiary. The consideration for 100% equity in GT SEA is EUR 2.36 million,
equivalent to RMB 18,190,706.80.
RMB
Income of
Net profit of
Acquiree
Timing for Costs for Percentage of Equity Acquiree
Date of Basis for Determine From date of
Acquiree receiving receiving acquired equity acquisition from date of
acquisition the date of acquisition acquisition
equity equity (%) method acquisition to
to the end of
the end of period
period
The date received
Annemasse 29 June 2018 13,428,591.86 100.00 Cash payment 29 June 2018 - -
control right on acquiree
The date received control
GT SEA 30 April 2018 9,095,353.40 50.00 Purchase of debts 30 April 2018 5,276,907.17 586,888.49
right on acquiree
(2) Cost of business combination and Goodwill
RMB
Annemasse GT SEA(note)
Cash 13,428,591.86 9,095,353.40
Fair value of the original 50% equity at the acquisition date - 9,095,353.40
Cost of business combination 13,428,591.86 18,190,706.80
Less: Share of fair value of identified assets received from acquiree 682,774.86 (13,038,470.20)
Goodwill 12,745,817.00 31,229,177.00
Note: In April 2018, the Group's subsidiary GDL entered into an "Equity Transfer Agreement" with another
shareholders of GT SEA, a joint venture where GDL held 50% of equity, to acquire the remaining 50%
of equity in GT SEA. In accordance with the agreement, the consideration for such acquisition will be
paid up in further 10 years. As at 30 April 2018, due to the completion of the closing of the
aforementioned equity, GT SEA became GDL’s wholly-owned subsidiary, with the consideration for 50%
of equity equivalent to RMB 9,095,353.40.
119
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
VI. CHANGES IN CONSOLIDATION SCOPE - continued
1. Subsidiaries acquired through a business combination not involving enterprises under common control
- continued
(3) Identifiable assets and liabilities of acquiree on the date of acquisition
RMB
Annemasse (Note) GT SEA(Note)
Fair value on Book value on Fair value on Book value on
acquisition date acquisition date acquisition date acquisition date
Assets:
Cash and bank balances 151,222.77 151,222.77 911,882.53 911,882.53
Other current assets except for cash and bank balances 2,058,859.16 2,058,859.16 8,321,842.57 8,321,842.57
Available-for-sale financial assets - - 382,092.64 382,092.64
Fixed assets 33,817,398.28 30,120,726.28 165,920.52 165,920.52
Intangible Assets 61,611.20 61,611.20 - -
Other non-current assets except for fixed assets,
38,883.83 38,883.83 384,227.45 384,227.45
construction in progress, intangible assets
Subtotal of assets 36,127,975.24 32,431,303.24 10,165,965.71 10,165,965.71
Liabilities
Current liabilities 10,036,977.24 10,036,977.24 23,204,435.91 23,204,435.91
Non-Current liabilities 25,408,223.14 25,014,524.03 - -
Subtotal of liabilities 35,445,200.38 35,051,501.27 23,204,435.91 23,204,435.91
Net assets 682,774.86 (2,620,198.03) (13,038,470.20) (13,038,470.20)
Net assets acquired 682,774.86 (2,620,198.03) (13,038,470.20) (13,038,470.20)
Note: As the net identifiable assets of Annemasse and GT SEA do not have active market, the Group invited
independent appraiser to assess the fair value of identifiable assets of Annemasse and GT SEA. As at
the reporting date, relevant evaluation work has not yet been finished and the Group's management
included it in the financial statements based on the book value of identifiable net assets of Annemasse
and GT SEA and adjusted according to the final assessment result. The amount of goodwill recognized
by the Group will also be adjusted accordingly.
120
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
VII. EQUITY IN OTHER ENTITIES
1. Interest in subsidiaries
(1) Major subsidiaries of the Group
Registered Nature of Shares (%)
No. Name of subsidiaries Methods of acquisition
address business Direct Indirect
Shanghai Jin Jiang International Catering Investment Co., Ltd. (Catering
1 PRC Service 100.00 - Subsidiaries set up or invested by the Group
Investment)
Subsidiaries acquired through
2 Shanghai Jin Jiang International Hotels Investment Co., Ltd. (Hotels Investment) PRC Service 100.00 - a business combination involving
enterprises under common control
Subsidiaries acquired through
3 Jin Jiang Inn Co., Ltd.( Jin Jiang Inn) PRC Service 100.00 - a business combination involving
enterprises under common control
4 Shanghai Jin Lu investment management Co., Ltd.(Jin Lu investment) PRC Service 100.00 - Subsidiaries set up or invested by the Group
Subsidiaries acquired through
5 Smartel PRC Service 100.00 - a business combination not involving
enterprises under common control
Shanghai Food and Beverage Serving Equipment Co., Ltd.
6 PRC Trading 100.00 - Subsidiaries set up or invested by the Group
(Food and Beverage Serving Equipment)
7 Shanghai Jin Jiang Louvre Asia Hotel Management Co., Ltd. PRC Service 100.00 - Subsidiaries set up or invested by the Group
8 Shanghai Jinpan Hotel Co., Ltd. ( Jinpan Hotel) PRC Service 100.00 - Subsidiaries set up or invested by the Group
Subsidiaries acquired through
9 Shanghai Jin Jiang Da Hua Hotel Co., Ltd.(Da Hua Hotel) PRC Service 100.00 - a business combination involving
enterprises under common control
10 Shanghai Minhang Hotel Co., Ltd.( Minhang Hotel) PRC Service 98.25 1.75 Subsidiaries set up or invested by the Group
Shanghai Jin Jiang International Food & Catering Management Co., Ltd.
11 PRC Service 18.00 82.00 Subsidiaries set up or invested by the Group
(Jin Jiang Food) (Note 1)
12 Shanghai New Asia Food Co., Ltd. ( New Asia Food) (Note 1) PRC Producing 5.00 95.00 Subsidiaries set up or invested by the Group
13 Shanghai New Asia Food Sales Co., Ltd. (Note 2) PRC Trading - 100.00 Subsidiaries set up or invested by the Group
Shanghai Jin Jiang Tung Lok Catering Management Inc.
14 PRC Service - 51.00 Subsidiaries set up or invested by the Group
("Tung Lok Catering ")(Note 1)
15 Shanghai Jinzhu Catering Management Co., Ltd. (Note 1) PRC Service - 100.00 Subsidiaries set up or invested by the Group
Subsidiaries acquired through
16 Shanghai Jinya Catering Management Co., Ltd ("Jinya Catering ")(Note 1) PRC Service - 100.00 a business combination not involving
enterprises under common control
17 Shanghai Qihong Hotels Management Co., Ltd. (Note 3) PRC Service - 100.00 Subsidiaries set up or invested by the Group
18 Shanghai Jinbei Investment Management Co., Ltd. (Note 3) PRC Service - 100.00 Subsidiaries set up or invested by the Group
19 Shanghai Jinzhen Investment Management Co., Ltd. (Note 3) PRC Service - 100.00 Subsidiaries set up or invested by the Group
20 Shenyang Jinfu Hotel Investment Management Co., Ltd. (Note 3) PRC Service - 55.00 Subsidiaries set up or invested by the Group
21 Xian Jinhu Hotels Management Co., Ltd. (Note 3) PRC Service - 100.00 Subsidiaries set up or invested by the Group
22 Shanghai Jinzhang Hotel Investment Management Co., Ltd. (Note 3) PRC Service - 100.00 Subsidiaries set up or invested by the Group
23 Jiaxing Jin Hu Hotel Management Co., Ltd. (Note 3) PRC Service - 100.00 Subsidiaries set up or invested by the Group
Subsidiaries acquired through
24 Xi'an Jin Jiang Inn Co., Ltd.(Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
25 Zhengzhou Jin Jiang Inn Co., Ltd. (Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
26 Tianjin Jin Jiang Inn Co., Ltd. (Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
27 Tianjin He Dongqu Jin Jiang Inn Co., Ltd.( Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
28 Shenyang Songhuajiang Jin Jiang Inn Co., Ltd.( Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
29 Zhoushan Shenjiamen Jin Jiang Inn Co., Ltd. (Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
30 Tianjin JinJin Hotel Co., Ltd. (Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
31 Shanghai Jinpu Investment and Management Co., Ltd. (Note3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
32 Nanjing HuJin Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
33 Kunshan Jinlv Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
34 Changzhou Jinlv Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
35 Xi'an Jinlv Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
36 Changchun Jin Jiang Inn Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
37 Changchun Jinlv Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
121
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
VII. EQUITY IN OTHER ENTITIES - continued
1. Interest in subsidiaries - continued
(1) Major subsidiaries of the Group - continued
Shares (%)
No. Name of subsidiaries Registered address Nature of business Methods of acquisition
Direct Indirect
Subsidiaries acquired through
38 Zhenjiang Jingkou Jin Jiang Inn Co., Ltd. (Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
39 Wuhan Jinlv Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
Jinhua Jinlv Investment, Consultation and
40 PRC Service - 100.00 a business combination involving
Management Co., Ltd.(Note 3)
enterprises under common control
Subsidiaries acquired through
41 Shenzhen Jinlv Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
42 Shenyang Wenhualu Jingkou Jin Jiang Inn Co., Ltd.(Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
43 Fuzhou Jinlv Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
Changzhou Jinning Hotels Investment and
44 PRC Service - 100.00 a business combination involving
Management Co., Ltd. (Note 3)
enterprises under common control
Subsidiaries acquired through
45 Ma'anshan Jinlv Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
46 Hefei Jinlv Investment and Management Co., Ltd.(Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
47 Hohhot Jinlv Investment and Management Co., Ltd. (Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
48 Kunming Hujin Hotel Co., Ltd. (Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
Changzhou Jin Jiang Inn Investment and
49 PRC Service - 100.00 a business combination involving
Management Co., Ltd. (Note 3)
enterprises under common control
Subsidiaries acquired through
50 Xining Jinlv Inn Investment(Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
51 Qingdao Jin Jiang Inn Hotel Co., Ltd.(Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
52 Jinguang Express(Note 3) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
53 Shanghai Jinle Hotel Co., Ltd. (Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
54 Ningbo Jinbo Hotel Co., Ltd. (Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
55 Suzhou New District Jinshi Hotels Co., Ltd. (Note 4) PRC Service - 60.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
56 Shanghai Jinhong Hotel Co., Ltd. (Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
57 Wuxi Jinxi Hotel Co., Ltd. (Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
Beijing Jin Jiang Inn Hotels Investment and
58 PRC Service - 100.00 a business combination involving
Management Co., Ltd. (Note 4)
enterprises under common control
Subsidiaries acquired through
59 Shanghai Jinhai Hotel Co., Ltd.(Note 4) PRC Service - 70.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
60 Shanghai Jinhua Hotel Co., Ltd. (Note 4) PRC Service - 80.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
61 Yangzhou Jinyang Hotel Co., Ltd. (Note 4) PRC Service - 75.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
62 Shanghai Dishuihu Jin Jiang Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
63 Huai'an Jin Jiang Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
64 Shanghai Jinya Hotel Co., Ltd. (Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
65 Hangzhou Jin Jiang Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
66 Chongqing Jin Jiang Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
67 Chengdu Jin Jiang Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
122
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
VII. EQUITY IN OTHER ENTITIES - continued
1. Interest in subsidiaries - continued
(1) Major subsidiaries of the Group - continued
Shares (%)
No. Name of subsidiaries Registered address Nature of business Methods of acquisition
Direct Indirect
Subsidiaries acquired through
68 Shanghai Jinning Hotel Co., Ltd. (Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
69 Shanghai Jinmin Hotel Co., Ltd. (Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
70 Nanchang Ruzilu Jin Jiang Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
71 Nanchang West Nanjing Road Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through a business
72 Shenyang Jin Jiang Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 combination involving enterprises under
common control
Subsidiaries acquired through
73 Jiaxing Jin Jiang Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
74 Nanning Jin Jiang Inn Hotel Co., Ltd. (Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
75 Shanghai Lin Qing Hotel Co., Ltd.(Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
76 Shanghai Jin Feng Hotel Co., Ltd. (Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
77 Tianjin Hu Jin Hotel Investment Co., Ltd.(Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
78 Lhasa Jin Jiang Inn Hotel Co., Ltd.(Note 4) PRC Service - 100.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
79 Shanghai Yujin Hotels Management Co., Ltd.(Note 4) PRC Service - 60.00 a business combination involving
enterprises under common control
Subsidiaries acquired through
80 City Inn (Note 4) PRC Service - 100.00 a business combination not involving
enterprises under common control
Lushan Jin Jiang International Hotel
81 PRC Service - 60.00 Subsidiaries set up or invested by the Group
Investment Co., Ltd. (Note 3)
82 Yili Jinlv Hotels Management Co., Ltd. (Note 3) PRC Service - 100.00 Subsidiaries set up or invested by the Group
83 Shanghai Jinxian Hotels Management Co., Ltd. (Note 3) PRC Service - 100.00 Subsidiaries set up or invested by the Group
Hangzhou Jinche Inn Hotels Investment and
84 PRC Service - 100.00 Subsidiaries set up or invested by the Group
Management Co., Ltd. (Note 3)
85 Tianjin Jintai Hotels Management Co., Ltd (Note 3) PRC Service - 100.00 Subsidiaries set up or invested by the Group
86 Shanghai Jin Jiang shares (Hong Kong) Ltd. (Note 5) Hong Kong Investment - 100.00 Subsidiaries set up or invested by the Group
87 Sailing Investment (Note 5) Luxembourg Investment - 100.00 Subsidiaries set up or invested by the Group
Subsidiaries acquired through
88 GDL(Note 5) France Investment holding - 100.00 a business combination not involving
enterprises under common control
Subsidiaries acquired through
89 Star Eco(Note 5) France Investment holding - 100.00 a business combination not involving
enterprises under common control
Subsidiaries acquired through
90 Louvre Htels Group(Note 5.6) France Investment holding - 100.00 a business combination not involving
enterprises under common control
Subsidiaries acquired through
91 Keystone (Note 7) PRC Service 93.0035 - a business combination not involving
enterprises under common control
Subsidiaries acquired through
92 7 Days Hotel (Shenzhen) Co., Ltd. (Note 8) PRC Service - 93.0035 a business combination not involving
enterprises under common control
Subsidiaries acquired through
93 7 Days Four Seasons (Guangzhou) Co., Ltd.(Note 8) PRC Service - 93.0035 a business combination not involving
enterprises under common control
Subsidiaries acquired through
94 Plateno Investment Limited (Note 8) Cayman Islands Investment - 93.0035 a business combination not involving
enterprises under common control
Subsidiaries acquired through
95 Plateno Group Limited (Note 8) Cayman Islands Investment - 93.0035 a business combination not involving
enterprises under common control
Subsidiaries acquired through
96 7 Days Group Holdings Limited (Note 8) Cayman Islands Investment - 93.0035 a business combination not involving
enterprises under common control
Subsidiaries acquired through
97 Vienna (Note 9) PRC Service 80.00 - a business combination not involving
enterprises under common control
Subsidiaries acquired through
98 Longevity Village (Note 10) PRC Service 80.00 - a business combination not involving
enterprises under common control
123
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
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.
Note 3: Subsidiaries of Hotel Investment.
Note 4: Subsidiaries of Jinjiang Inn.
Note 5: Subsidiaries of Jinlu Investment.
Note 6: Louvre Htels Group has 366 subsidiaries, including 323 wholly-owned subsidiaries: 286
registered in France, 14 in Poland, 14 in Netherlands, 12 in Britain, 11 in Germany, 8 in Spain,
and the rest 18 in other countries.
Note 7: Keystone has 130 subsidiaries, including 91 wholly-owned subsidiaries: 87 registered in
Mainland China and the rest 43 out of Mainland China.
Note 8: Subsidiaries of Keystone.
Note 9: Vienna has 27 subsidiaries in total, all of which are wholly-owned subsidiaries.
Note 10:Longevity Village has 2 subsidiaries in total, both of which are wholly-owned subsidiaries.
(2) Important but not wholly-owned subsidiaries
RMB
Gain Declaration of
or loss attributable dividends to
Minority Closing balance
to minority minority
Name of subsidiaries Shareholding of minority
shareholders shareholders
(%) interest
in the current in the current
period period
Shanghai Yujin Hotel Management Co., Ltd. 40.00 634,947.87 - 10,890,341.61
Suzhou New District Jinshi Hotel Co., Ltd. 40.00 22,805,751.56 - 29,024,657.69
Lushan Jinjiang International Hotel Investment Co., Ltd. 40.00 (596,972.26) - 6,023,170.54
Shanghai Jinhua Hotel Co., Ltd. 20.00 675,000.00 - 6,725,270.42
Shenyang Jinfu Hotel Investment Management Co., Ltd. 45.00 (618,684.89) - 4,625,143.29
Sarovar 26.00 1,301,326.62 - 24,981,637.14
Gerestel Rodez Nancy Aurillac 34.00 259,164.89 - 8,393,502.78
Gestion Hotel Cahors Vitrolles 44.50 (53,184.53) - 6,599,106.12
Gestion Htel de St Quentin en Yvelines 13.00 410,376.90 - 6,705,297.78
SCI Chasse 35.00 225,240.90 - 7,130,081.63
Keystone 6.9965 29,504,031.14 1,123,258.62 330,810,238.75
Vienna 20.00 23,991,382.31 - 176,785,835.77
Longevity Village 20.00 (2,190,445.02) - 63,382.28
124
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
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 2018 31 December 2017
Name of subsidiaries None-current Non-current None-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 Hotel Management Co., Ltd. 25,347,750.80 7,134,943.84 32,482,694.64 5,256,840.61 - 5,256,840.61 22,859,597.44 7,753,326.58 30,612,924.02 4,911,577.71 - 4,911,577.71
Suzhou New District Jinshi Hotel Co., Ltd. 92,674,534.89 50,377.50 92,724,912.39 20,163,268.18 - 20,163,268.18 83,367,066.23 28,274,601.77 111,641,668.00 20,092,865.68 76,000,000.00 96,092,865.68
Lushan Jinjiang International Hotel Investment Co., Ltd. 4,504,756.72 22,678,568.62 27,183,325.34 12,125,398.99 - 12,125,398.99 4,870,202.11 23,537,441.65 28,407,643.76 11,863,256.20 - 11,863,256.20
Shanghai Jinhua Hotel Co., Ltd. 13,075,789.84 51,999,618.370 65,075,408.21 39,947,881.46 - 39,947,881.46 21,041,693.64 32,754,910.06 53,796,603.70 30,167,883.75 - 30,167,883.75
Shenyang Jinfu Hotel Investment Management Co., Ltd. 10,636,862.91 30,990,102.40 41,626,965.31 21,348,869.13 10,000,000.00 31,348,869.13 8,885,382.75 32,342,945.83 41,228,328.58 19,572,732.01 10,000,000.00 29,572,732.01
Sarovar 77,929,721.73 312,872,935.75 390,802,657.48 24,900,709.59 185,091,690.02 209,992,399.61 79,385,647.46 114,284,657.80 193,670,305.26 12,668,170.59 91,063,922.23 103,732,092.82
Gerestel Rodez Nancy Aurillac 18,000,949.20 15,095,330.72 33,096,279.92 4,629,186.42 3,775,456.24 8,404,642.66 16,560,970.90 15,690,641.11 32,251,612.01 3,972,439.15 3,873,135.46 7,845,574.61
Gestion Hotel Cahors Vitrolles 6,270,671.06 17,436,593.84 23,707,264.90 5,993,710.78 2,864,829.28 8,858,540.06 6,054,230.19 17,687,355.01 23,741,585.20 5,465,531.36 3,013,600.46 8,479,131.82
Gestion Htel de St Quentin en Yvelines 20,396,647.62 78,614,736.72 99,011,384.34 5,118,486.07 42,313,050.11 47,431,536.18 16,297,323.23 81,256,746.64 97,554,069.87 4,876,995.60 43,278,765.45 48,155,761.05
SCI Chasse 24,118,542.13 1,077,484.38 25,196,026.51 4,561,000.00 263,617.44 4,824,617.44 23,888,150.23 1,128,832.47 25,016,982.70 4,621,862.65 274,201.71 4,896,064.36
Keystone 3,275,348,158.31 4,784,965,991.27 8,060,314,149.58 2,497,247,818.12 1,576,574,483.24 4,073,822,301.36 2,884,766,247.73 4,757,539,981.25 7,642,306,228.98 2,165,624,460.76 1,806,096,803.50 3,971,721,264.26
Vienna 1,321,053,441.16 754,111,485.36 2,075,164,926.52 1,177,753,010.71 13,482,736.95 1,191,235,747.66 1,192,481,881.77 683,874,619.50 1,876,356,501.27 1,100,471,503.90 11,912,730.06 1,112,384,233.96
Longevity Village 36,827,134.36 47,826,544.22 84,653,678.58 84,336,767.21 - 84,336,767.21 47,962,260.60 31,039,111.75 79,001,372.35 67,732,235.86 - 67,732,235.86
RMB
Period from 1 January 2018 to 30 June 2018 Period from 1 January 2017 to 30 June 2017
Total Total
Name of subsidiaries Cash flows from Cash flows from
Operating income Net profit comprehensive Operating income Net profit comprehensive
operating activities operating activities
income income
Shanghai Yujin Hotel Management Co., Ltd. 8,922,374.70 1,587,369.67 1,587,369.67 1,336,576.37 9,003,920.38 1,607,987.66 1,607,987.66 (4,539,692.05)
Suzhou New District Jinshi Hotel Co., Ltd. 5,416.79 57,014,378.89 57,014,378.89 10,494,435.90 4,096,914.77 1,159,884.56 1,159,884.56 46,141,471.28
Lushan Jinjiang International Hotel Investment Co., Ltd. 2,172,942.82 (1,492,430.66) (1,492,430.66) 891,163.68 1,628,023.48 (1,847,954.13) (1,847,954.13) 1,258,572.90
Shanghai Jinhua Hotel Co., Ltd. 9,057,955.44 1,509,472.45 1,509,472.45 (5,920,327.11) 15,275,921.18 3,819,888.62 3,819,888.62 3,918,778.76
Shenyang Jinfu Hotel Investment Management Co., Ltd. 6,670,319.23 (1,374,855.34) (1,374,855.34) 2,302,900.10 5,733,862.38 (1,793,439.96) (1,793,439.96) 6,673,432.07
Sarovar 50,978,249.35 3,703,775.75 3,703,775.75 11,278,593.24 49,434,147.65 7,157,398.56 7,157,398.56 8,793,110.66
Gerestel Rodez Nancy Aurillac 8,479,598.28 503,084.79 503,084.79 36,657.35 7,652,081.44 (72,817.51) (72,817.51) 634,709.59
Gestion Hotel Cahors Vitrolles 9,497,355.93 (66,331.27) (66,331.27) 1,308,188.68 9,149,391.48 (1,260,676.89) (1,260,676.89) 638,276.18
Gestion Htel de St Quentin en Yvelines 12,356,181.92 2,746,368.50 2,746,368.50 275,895.18 723,679.73 640,526.83 640,526.83 80.88
SCI Chasse 740,270.35 418,293.47 418,293.47 186.37 12,577,727.61 3,622,405.63 3,622,405.63 1,167,359.38
Keystone 2,009,471,929.18 153,322,920.09 317,030,142.12 446,212,416.63 1,838,552,793.10 112,130,093.58 115,143,026.64 484,618,601.32
Vienna 1,269,454,181.37 119,956,911.55 119,956,911.55 217,296,715.17 1,026,987,083.39 94,852,579.17 94,852,579.17 277,317,365.80
Longevity Village 153,574,623.28 (10,952,225.12) (10,952,225.12) 25,190,021.47 147,741,902.60 (3,993,613.48) (3,993,613.48) (1,472,802.09)
125
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
VII. EQUITY IN OTHER ENTITIES - continued
2. Shares of owners' equity in subsidiaries changed but still control transactions in subsidiaries
In this reporting period, the Company acquired the minority interests in Keystone, and increased the long-term
equity investment by RMB 1,204,778,376.39. After the completion of the acquisition, the proportion of the
Company's shareholding in Keystone increased to 93.0035%.
RMB
Keystone
Cost of acquisition
--Cash 1,204,778,376.39
Total consideration 1,204,778,376.39
Less: Net asset share of subsidiaries calculated in proportion of equity interests obtained 537,900,581.26
Difference 666,877,795.13
Including: Capital reserve adjusted 666,877,795.13
3. Interest in associates
(1) Important associates
Principal Shareholding ratio Accounting
Name of associates place of Registered address Business nature (%) method of
business Direct Indirect associates
Shanghai Kentucky Fried 768 Shuang Liao Road,
Chicken Company Limited PRC Yang Pu District, Shanghai Production of fast food 42 - Equity method
Shanghai New Asia Fulihua Catering, kitchen equipment,
Catering Company Limited PRC 808 Huai Hai Zhong Road, Shanghai chemical commodity etc. 41 - Equity method
No. 14, Lane 1502, Luoshan Road,
Qicheng Network PRC PRC (Shanghai) Pilot Free Trade Information technology 10 - Equity method
Zone
(2) Key financial information of important associates
RMB
30 June 2018/ Period from 1 January 2018 to 30 June 2018 30 June 2017/Period from 1 January 2017 to 30 June 2017
Shanghai Shanghai New Shanghai Shanghai New Qicheng
Qicheng Network
Kentucky Asia Fulihua Kentucky Asia Fulihua Network
Current assets 110,588,877.52 88,045,489.12 417,941,316.46 101,581,764.13 85,943,648.82 385,523,524.22
Including: Cash and cash equivalents 101,858,294.88 64,545,422.65 258,841,749.88 91,063,046.06 68,677,116.78 338,665,746.46
Non-current assets 480,751,287.03 29,719,488.10 583,854,801.57 482,979,282.57 32,621,844.36 604,581,596.68
Total assets 591,340,164.55 117,764,977.22 1,001,796,118.03 584,561,046.70 118,565,493.18 990,105,120.90
Current liabilities 158,485,908.73 44,586,363.18 387,092,219.40 156,519,110.67 45,238,163.18 204,668,250.00
Non-current liabilities 44,847,704.73 1,732,071.50 70,006,594.56 55,247,569.78 1,836,902.50 214,410,848.02
Total liabilities 203,333,613.46 46,318,434.68 457,098,813.96 211,766,680.45 47,075,065.68 419,079,098.02
Minority interests - - -
Equity attributable to shareholders of parent company 388,006,551.09 71,446,542.54 544,697,304.07 372,794,366.25 71,490,427.50 571,026,022.88
Share of net assets calculated based on shareholding ratio 162,962,751.46 29,293,082.44 54,469,730.41 156,573,633.83 29,311,075.28 57,102,602.29
Book value of equity investments in associates 162,962,751.62 29,293,082.42 54,469,730.39 156,573,633.90 29,311,075.26 57,102,602.29
Operating income 1,540,181,196.01 143,382,615.91 91,005,471.08 1,513,232,647.17 131,527,585.61 3,650,479.20
Financial expenses (3,667,288.81) 430,546.99 (701,793.88) (2,308,277.87) 370,210.96 (841,437.82)
Income tax expenses 42,114,436.86 3,152,081.65 (1,657,079.75) 45,609,444.01 3,007,398.17 -
Net profit (loss) 149,980,012.74 9,456,244.79 (23,824,992.20) 134,821,804.56 9,022,194.17 (82,962,293.32)
Other comprehensive income - - -
Total comprehensive income 149,980,012.74 9,456,244.79 (23,824,992.20) 134,821,804.56 9,022,194.17 (82,962,293.32)
Dividends received from associates for the period 113,316,970.03 5,740,000.00 - 87,297,483.35 4,592,000.00 -
(3) Financial information summary of other associates
RMB
30 June 2018/ 30 June 2017/
Period from 1 January Period from 1 January
2018 2017
to 30 June 2018 to 30 June 2017
Associates
Total book value of investments 114,390,799.05 145,561,323.68
Total amount of the following items based on shareholding ratio
-- Total net profit and comprehensive income 2,431,002.15 1,392,108.59
126
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
VIII. RISKS ASSOCIATED WITH FINANCIAL INSTRUMENTS
The Group's major financial instruments include cash and bank balances, accounts receivable, derivative
financial liabilities, accounts payable, 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 the risks are monitored at a certain level.
The Group adopts sensitivity analysis technique to analyze how the profit and loss for the period or
shareholders' 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 Group's risk management objectives are to achieve a proper balance between risks and yield, minimize the
adverse impacts of risks on the Group's operation performance, and maximize the benefits of the shareholders
and other stakeholders. Based on these risk management objectives, the Group's basic risk management
strategy is to identify and analyze the Group's exposure to various risks, establish an appropriate maximum
tolerance to risk, implement risk management, and monitors regularly and effectively these exposures to
ensure the risks are monitored at a certain level.
1.1 Market risk
1.1.1. Currency risk
Currency risk is the risk of changes in the fair value or future cash flow that occur because of changes in foreign
exchange rates. As the Company and its subsidiaries in Mainland China mainly operate 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 2018, the Company and its domestic subsidiaries’ exposure to the foreign
currency risk is primarily associated with certain cash and bank balances in USD. The Company and its
subsidiaries in Mainland China closely monitor the influence on the Group's currency risks incurred by
fluctuations in foreign exchange rate. Due to the limited transactions denominated in foreign currencies, the
Company and its subsidiaries in Mainland China believe that the current foreign currency risk has no significant
impact on their business operation.
GDL, the Group's subsidiary out of Mainland China, mainly operates in Europe with Euro as the settlement
currency for its principal operating activities, and Euro is the unit for most transactions, assets and liabilities. As
at 30 June 2018, 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 on the Group incurred by
fluctuations in foreign exchange rate. Due to the limited transactions denominated in foreign currencies, GDL
believes that the current foreign currency risk has no significant impact on its business operation.
1.1.2. Interest rate risk
The Group's cash flow interest rate risk relates primarily to variable-rate bank borrowings and financial lease
payable (see Note (V).17, 24 and 25 for details). It is the Group's policy to keep its borrowings at floating rate of
interests so as to eliminate the fair value interest rate risk.
127
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
VIII. RISKS ASSOCIATED WITH FINANCIAL INSTRUMENTS - 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 and owners' equity for the period
from 1 January 2018 to 30 June 2018 and the period from 1 January 2017 to 30 June 2017:
RMB'000
Period from 1 January 2018 to 30 June 2018/ Period from 1 January 2017 to 30 June 2017/
Changes in interest 30 June 2018 30 June 2017
rate Effect on after-tax Effect on shareholders' Effect on after-tax Effect on shareholders'
profit equity profit equity
25% increase (18,140) (18,140) (27,519) (27,519)
25% decrease 18,140 18,140 27,519 27,519
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. As at 30 June 2018, details of the Group's available-for-sale equity instruments are set out in
Note (V) 7. Other price risk of assets in fair value may affect the Group's performance and shareholders' equity.
The Group closely monitors the effects of changes in value of securities. The Group performs the following
sensitivity analysis on the price risk of securities. The Group believes the securities price risk has significant
impact on the Group's performance.
The Group is exposed to the price risk arising from financial assets which are measured at fair value. As at 30
June 2018, where all other variables are held constant, the reasonable 10% increase (decrease) in equity
instrument price will result in an increase (decrease) amounting to RMB78,569,770.99 in shareholders' equity of
the Group.
1.2 Credit risk
As at 30 June 2018, the Group's maximum exposure to credit risk which will cause a financial loss to the Group
due to failure to discharge an obligation by the counterparties and financial guarantees issued 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.
128
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
VIII. RISKS ASSOCIATED WITH FINANCIAL INSTRUMENTS - continued
1. Risk management objectives and policies - continued
1.2 Credit risk - continued
In order to minimize the credit risk, the Group controls the credit limits, performs 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 controls the risk concentration and takes necessary measures to avoid over concentration of debts.
As at 30 June 2018, the Group is exposed to no significant risk regarding credit concentration.
The credit risk on liquid funds is limited because they are deposited with banks and financial companies with
high credit ratings.
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 Group's operations and mitigate
the effects of fluctuations in cash flows. The management monitors the utilization of borrowings and ensures
compliance with loan covenants.
The following is the maturity analysis for financial liabilities held by the Group which is based on undiscounted
remaining contractual obligations:
RMB
More than
Less than 1 year 1 – 5 years Total
5 years
Non-derivative financial liabilities:
Short-term borrowings 25,648,796.62 - - 25,648,796.62
Accounts payable 2,031,379,121.43 - - 2,031,379,121.43
Dividends payable 502,414.89 - - 502,414.89
Other payables 1,619,688,461.26 - - 1,619,688,461.26
Long-term borrowings and non-current liabilities due within one year 503,067,293.77 17,710,453,705.25 89,304,460.48 18,302,825,459.50
Long-term payables and non-current liabilities due within one year 12,962,214.24 193,854,164.51 178,750,940.04 385,567,318.79
Above table is prepared based on un-discounted cash flow of the Group's financial liabilities on the possible
earliest repayment day, with considering the cash flows of the principal and interest.
If the interest flow is based on the floating interest rate, the undiscounted amount shall arise from the interest
rate at the end of the financial reporting, and the contract will expire at the earliest demanded repayment day.
2. Capital management
The Group manages its capital through optimizing structures of liabilities and shareholders' equity to make sure
that the entities within the Group could continue as a going concern, and maximize the benefits of the
shareholders. The overall strategies of the Group remain unchanged during the period from 1 January 2018 to
30 June 2018.
The capital of the Group consists of net liabilities and shareholders' equity.
The Group is not subject to external mandatory capital management requirements. The management of the
Group regularly reviews the Group's capital structure.
129
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
IX. DISCLOSURE OF FAIR VALUE
1. Closing fair value of assets and liabilities measured at fair value
RMB
Fair value on 30 June 2018
Level 1 Level 2 Level 3
Total
Fair value Fair value Fair value
Continuous fair value measurement
Available-for-sale financial assets 289,809,927.17 757,787,019.40 - 1,047,596,946.57
Total assets continuously measured at fair value 289,809,927.17 757,787,019.40 - 1,047,596,946.57
Held-for-trading financial liabilities - - - -
Including: Derivative financial liabilities - 3,564,106.96 - 3,564,106.96
Long-term payables - - 93,391,424.32 93,391,424.32
Total liabilities continuously measured at fair value - 3,564,106.96 93,391,424.32 96,955,531.28
2. Determination basis of market price for items measured continuously at Level 1 fair value
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 2018.
3. Items measured continuously at Level 2 fair value, valuation techniques, quantitative and qualitative
information of key parameters
RMB
Fair value on
Valuation techniques Input
30 June 2018
Available-for-sale financial assets (Note) 757,787,019.40 Market approach Forward exchange price
Derivative financial liabilities 3,564,106.96 Discounted cash flow Discount rate and forward interest rate
Note: At the end of this reporting period, the Group’s available-for-sale equity instruments, financial assets
continuously measures at Level 2 fair value are equity in Tongcheng eLong.
As at 30 June 2018, the Group measured the fair value of the equity of Tongcheng eLong with the
valuation techniques of recent comparable exchange price. The fair value is determined by referring to
the unit price of investors’ equity introduced by Tongcheng eLong in June 2018.
4. Items measured continuously at Level 3 fair value, valuation techniques, quantitative and qualitative
information of key parameters
RMB
Fair value on Weighted
Valuation techniques Input
30 June 2018 average value
Long-term payables-Htels et Préférence 9,179,688.19 Discounted cash flow Discount rate 12%
Long-term payables-Sarovar 84,211,736.13 Discounted cash flow Discount rate 5.51%
5. Fair value information of financial assets and financial liabilities which are not measured by fair value
For the Group's current assets and current liabilities that are not measured at fair value, the carrying amount of
financial assets and the financial liabilities approximate the fair value.
130
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS
1. Basic information of the holding company
Shareholding Voting
ratio of the rights of
Name of company Registered address Nature of business Registered capital parent the parent
company company
(%) (%)
Room316-318,No.24 Yangxin East Road, Hotel investment,
Jin Jiang Hotels Group Pudong District, Shanghai, PRC hotel management and others RMB5,566,000,000.00 50.32 50.32
Description of the parent company
Jin Jiang Hotels Group is a limited liability company restructured from Shanghai New Asia Group Co., Ltd on 6 June 1995 in PRC. It is mainly engaged in hotels and
food etc. On 15 December 2006, Jin Jiang Hotels Group’s share (Stock code: 02006) was approved to be listed on The Stock Exchange of Hong Kong Limited. Its
parent company and ultimate holding company is Jin Jiang International.
The ultimate controlling party of the Company is Jin Jiang International.
2. Basic information of subsidiaries
The basic information and other related information of the subsidiaries is set out in note (VII) 1.
3. Basic information of joint ventures and associates
The Company has no joint ventures. The basic information and other related information of associates is set out
in Note (VII) 3.
4. Other related parties
Name of related party Relationship with the Group
Shanghai Jin Jiang 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 Component of parent company
Xincheng Hotel Component of parent company
Shanghai Jin Jiang Hotel Co., Ltd. The same parent company
Shanghai Jin Jiang International Hotel Co., Ltd. The same parent company
Shanghai Longbo Hotel Co., Ltd. The same parent company
Shanghai Jin Jiang Jinmen Hotel Co., Ltd. The same parent company
Shanghai Hongqiao Hotel Co., Ltd. The same parent company
Shanghai Hotel Co., Ltd. The same parent company
Jinshajiang Hotel Co., Ltd. The same parent company
Shanghai Peace Hotel Co., Ltd. The same parent company
Wuhan Jin Jiang Hotel Co., Ltd. The same parent company
Marvel Hotel The same parent company
Shanghai Hailun Hotel Co., Ltd. The same parent company
Shanghai Jianguo Hotel Co., Ltd. The same parent company
Shanghai MAGNOTEL Hotel Co., Ltd. The same parent company
Jin Jiang International Finance Co., Ltd. The same parent company
Shanghai New Asia Plaza Great Wall Hotel Co., Ltd. The same parent company
Shanghai Jin Jiang International Hotel Commodities Co., Ltd. The same parent company
Jin Jiang International Hotel Management Co., Ltd. The same parent company
Shanghai South Hua Ting Guest House Co., Ltd. The same parent company
Shanghai Jin Jiang Travel Co., Ltd. The same parent company
Shanghai Jin Jiang International Travel Corporation The same parent company
Shanghai Jin Jiang International Industrial Investment
Co., Ltd. Xin Jin Jiang Hotel The same parent company
131
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
4. Other related parties - continued
Name of related party Relationship with the Group
Xi’an Xijing International Hotel Co., Ltd. The same parent company
Jing'an Bakery The same parent company, associate
Shanghai Jin Jiang Tomson Hotel Co., Ltd. Joint venture of parent company
Les Roches Jin Jiang International Hotel Management College Associate of parent company
Shanghai Yangtze Hotel Co., Ltd Associate of parent company
(Jin Jiang Hotels Group and the above companies are hereinafter referred to as "Jin Jiang Hotels Group
and its 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
Jin Jiang International Business Co., Ltd. Subsidiary of ultimate holding company
Shanghai South Hua Ting Guest House Co., Ltd. Subsidiary of ultimate holding company
Shanghai Xinyuan Hotel Subsidiary of ultimate holding company
Shanghai Hunan Egg Products 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
(Jin Jiang International and the above companies are hereinafter referred to as "Jin Jiang International
and its subsidiaries”)
Shanghai Xinjin Hotel Management Co., Ltd. Associate
(The above company is hereinafter referred to as “Associate of Hotel Investment”)
GOLDEN TULIP MENA Associate
GOLDEN TULIP SOUTHERN ASIA LTD Associate
SNC LISIEUX Associate
(The above companies are hereinafter referred to as “Associates 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
(The above companies are hereinafter referred to as “Associates of Keystone”)
132
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
5. Related party transactions
(1) Purchases or sales of goods, rendering or receipt of services
Table of purchases of goods / receipt of services:
RMB
Period from Period from
Related party Transaction type 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
1. Purchases of goods
Jin Jiang Hotels Group and its subsidiaries Purchases of hotel commodities and food 279,301.57 283,280.02
Jin Jiang International and its subsidiaries Purchases of hotel commodities and food 9,100.00 11,700.00
Associates Purchases of hotel commodities and food 457,598.11 -
Jin Jiang International and its subsidiaries Purchase of membership packages 2,169,810.18 -
Subtotal 2,915,809.86 294,980.02
2. Receipt of services
Jin Jiang International and its subsidiaries Credit service fees - 1,784,954.56
Subtotal - 1,784,954.56
Jin Jiang International and its subsidiaries Technical system service fees 5,340,686.18 -
Subtotal 5,340,686.18 -
Jin Jiang International and its subsidiaries Room booking service fees 5,685,351.83 220,696.41
Subtotal 5,685,351.83 220,696.41
Table of sales of goods / rendering of services:
RMB
Period from Period from
Related party Transaction type 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
1. Management fee
Management fee of limited-service hotels in Mainland
Jin Jiang Hotels Group and its subsidiaries China - 458,440.68
Management fee of limited-service hotels in Mainland
Jin Jiang International and its subsidiaries China 334,701.71 415,058.73
Subtotal 334,701.71 873,499.41
2.Service fees of room charge accounting
Jin Jiang International and its subsidiaries(Note) Service fees of room charge accounting 19,460,195.76 -
Subtotal 19,460,195.76 -
3.Membership package design and promotion
Jin Jiang International and its subsidiaries(Note) Membership package design and promotion 18,360,926.61 -
Subtotal 18,360,926.61 -
Note: During the financial reporting period, according to the contract, the room fees of some brand hotels of
the Group are collected by Shanghai Jin Jiang International E-Commerce Co., Ltd. (“Jin Jiang
E-Commerce”), and recovered by Jin Jiang Inn, a subsidiary of the Company. At the same time, Jin
Jiang Inn provides room rate accounting services and membership package design and promotion
services to Jin Jiang E-Commerce.
Period from Period from
Related party Transaction type 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
4. Reservation channels fee
Jin Jiang Hotels Group and its subsidiaries Reservation channels fee of limited-service hotels in Mainland China - 135,528.31
Jin Jiang International and its subsidiaries Reservation channels fee of limited-service hotels in Mainland China - 129,209.43
Subtotal - 264,737.74
5. Credit income
Jin Jiang Hotels Group and its subsidiaries Credit income of limited-service hotels in Mainland China - 11,071.51
Jin Jiang International and its subsidiaries Credit income of limited-service hotels in Mainland China - 12,953.27
Subtotal - 24,024.78
6. Income from sales of goods and food
Jin Jiang Hotels Group and its subsidiaries Sales of goods by limited-service hotels in Mainland China - 96,039.03
Jin Jiang International and its subsidiaries Sales of goods by limited-service hotels in Mainland China 159,795.35 101,908.24
Subtotal 159,795.35 197,947.27
Jin Jiang Hotels Group and its subsidiaries Sales of food 805,711.13 794,039.31
Jin Jiang International and its subsidiaries Sales of food 694,024.54 74,726.48
Subtotal 1,499,735.67 868,765.79
133
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
5. Related party transactions - continued
(2) Related leases
The Group as a lessor
RMB
Name of lessee Asset for lease Rental income Rental income
recognized recognized
in the current period in the prior period
Les Roches Jin Jiang International Hotel Management College Office area 59,410.71 59,410.71
Subtotal 59,410.71 59,410.71
The Group as a lessee:
RMB
Name of lessor Asset for lease Rental fee recognized Rental fee recognized
in the current period in the prior period
Shanghai Genjie Investment Management Co., Ltd. Operating and office area 4,902,593.58 4,902,593.58
Shanghai South Hua Ting Guest House Co., Ltd. (Note) Operating area 4,070,080.86 4,070,080.86
Shanghai MAGNOTEL Hotel Co., Ltd. (Note) Operating area 4,229,649.60 4,229,649.60
Shanghai Jin Jiang Hotel Co., Ltd. Restaurant and staff building 1,302,258.13 1,302,258.13
Jin Jiang International Office and operating area 1,596,411.48 1,317,062.85
Shanghai East Jin Jiang Hotel Co., Ltd Office area - 5,811.72
Shanghai Jin Jiang Amusement Park Operating area 1,520,834.53 1,520,834.53
Shanghai Jin Jiang Property Management Co., Ltd. Office area and Haining retail store 352,579.31 352,579.31
Wuhan Jin Jiang Hotel Co., Ltd. Restaurant 75,723.75 230,171.24
Shanghai Jin Jiang International Investment Management Co., Ltd. Office area 642,765.72 642,765.72
Subtotal 18,692,896.96 18,573,807.54
Note: Please refer to Note (X) 5(3) for details of the leasing between the Company and Shanghai South Hua
Ting Guest House Co., Ltd. and Shanghai MAGNOTEL Hotel Co., Ltd., subsidiaries of Jin Jiang
Hotels Group, and the entrusted management between Jin Jiang Hotels Group and its subsidiary Marvel
Hotel Shanghai.
(3) Details of entrusted management and lease
On 29 March 2013, the Company and Jin Jiang Hotels Group signed an Entrusted Management Contract, and
the Company was entrusted to manage the Xincheng Hotel and New Asia Hotel, components of Jin Jiang Hotels
Group (hereinafter referred to as "entrusted management hotels") with an entrusted period of 15 years, i.e. from
1 April 2013 to 31 March 2028, and the Company enjoyed a renewal option after the expiry of the entrusted
period, but the renewal period shall not be less than 5 years. During the 15 years of entrusted management, the
Company should pay a fixed amount of entrusted management fee to Jin Jiang Hotels Group every year. At the
same time, the Company employed the qualified workers of the entrusted management hotels as at 31 March
2013 for management needs and paid Jin Jiang Hotels Group for the salaries and social contributions of the
relevant workers every year. Except for the above-mentioned expenses, the remaining gain or loss of the
entrusted management assets shall be held or undertaken by the Company. In addition, the original claims and
debts of the above two entrusted hotels as at 1 April 2013 shall still be borne by Jin Jiang Hotels Group.
On the same day, the Company signed Rent Contract with Shanghai South Hua Ting Guest House Co., Ltd. and
Shanghai MAGNOTEL Hotel Co., Ltd. respectively for the rent of all properties, venues and auxiliary facilities
held by the two hotels (hereinafter collectively referred to as "rented hotels") with a rent period of 15 years, i.e.
from 1 April 2013 to 31 March 2028, and the Company enjoys a renewal option after the expiry of the lease
period, but the renewal period shall not be less than 5 years. During the 15 years of the rent period, the
Company shall pay a fixed amount of rental fee to Shanghai South Hua Ting Guest House Co., Ltd. and
Shanghai MAGNOTEL Hotel Co., Ltd every year. At the same time, the Company employed the qualified
workers of the rented hotels as at 31 March 2013 for management needs and paid Shanghai South Hua Ting
Guest House Co., Ltd. and Shanghai MAGNOTEL Hotel Co., Ltd. for the salaries and social contributions of
the relevant workers every year. In addition, the original claims and debts of the above two hotels as at 1 April
2013 shall still be borne by the hotels respectively.
134
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
5. Related party transactions - continued
(3) Details of entrusted management and lease - continued
The operating results and cash flows of the above-mentioned entrusted management hotels and rented hotels
during the period from 1 January 2018 to 30 June 2018 are included in the Company's income statement and
cash flow statement, as well as the consolidated income statement and consolidated cash flow statement of the
Group. The assets and liabilities arising from the operation of the above-mentioned entrusted management
hotels and rented hotels since 1 April 2013 are included in the Company's balance sheet and the consolidated
balance sheet of the Group.
On 30 December 2013, the Company signed an Entrusted Management Contract with Marvel Hotel Shanghai
for the management of the hotel with an entrusted period of 14 years, i.e. from 1 January 2014 to 31 December
2027. Before 6 months of the expiry of entrusted period, if the Company intends to extend the entrusted period,
the entrusted period could be extended as agreed by Marval Hotel Shanghai and Shanghai YMCA, and Marcal
Hotel Shanghai should cooperate. During the above entrusted period, the Company should pay a fixed amount
of entrusted management fee to Marvel Hotel Shanghai every year. At the same time, the Company employed
the qualified workers of Marvel Hotel Shanghai as at 31 December 2013 for management needs and paid
Marvel Hotel Shanghai for the salaries and social contributions of the relevant workers every year, and bought
out the inventories of the entrusted management hotel amounting to RMB 2,447.23 measured at the carrying
amount as at 31 December 2013. In addition, the original claims and debts of Marvel Hotel Shanghai as at 31
December 2013 shall still be borne by Marvel Hotel Shanghai. The Company established Shanghai Jin Jiang
International Hotel Development Co., Ltd YMCA Branch (“YMCA Hotel”) to account for the subsequent
business of Marvel Hotel Shanghai. The operating results and cash flows of YMCA Hotel for the year ended 31
December 2014 are included in the Company’s income statement and cash flow statement, as well as the
consolidated income statement and consolidated cash flow statement of the Group, and the assets and liabilities
generated from operations from 1 January 2014 are included in the Company's balance sheet and the
consolidated balance sheet of the Group.
During the reporting period, as the entrusted management party of the above hotels and the lessee, the amounts
that the Company should pay for the related entrusted management expenses / rental fees and salaries and social
contributions of the workers are as follows：
RMB
Period from Period from
Entrusting Party / Lessor 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Entrusted management expenses/Rental fees
Jin Jiang Hotels Group 15,072,000.00 15,072,000.00
Marvel Hotel Shanghai 5,520,000.00 5,520,000.00
Shanghai South Hua Ting Guest House Co., Ltd. 4,284,000.00 4,284,000.00
Shanghai MAGNOTEL Hotel Co., Ltd. 4,452,000.00 4,452,000.00
Total 29,328,000.00 29,328,000.00
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Salaries and social contributions of the workers 30,147,774.91 26,413,734.30
135
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
5. Related party transactions - continued
(4) Guarantees
The Group as the guaranteed party:
RMB
Whether the
Guarantor Guaranteed party Guaranteed amount Starting date Expiring date guarantee has
been performed
Jin Jiang International Sailing Investment 3,052,948,500.00 17 November 2017 29 April 2022 No
Jin Jiang International Sailing Investment 2,831,055,000.00 17 November 2017 16 November 2022 No
(5) Borrowed from / Lent to related parties
RMB
Related party Amount Starting date Expiring date Remarks
Borrowed from:
Finance Company 4,980,000.00 12 October 2016 11 October 2019 Credit borrowing
Finance Company 20,000.00 12 October 2016 15 June 2018 Credit borrowing
Finance Company 6,000,000.00 17 May 2017 16 May 2018 Credit borrowing
Finance Company 1,000,000.00 13 November 2017 5 November 2020 Credit borrowing
Finance Company 1,000,000.00 17 November 2017 5 November 2020 Credit borrowing
Finance Company 5,000,000.00 6 November 2017 5 November 2020 Credit borrowing
Finance Company 500,000.00 14 December 2017 5 November 2020 Credit borrowing
Finance Company 10,000,000.00 27 December 2017 15 June 2018 Credit borrowing
Finance Company 10,000,000.00 27 December 2017 15 December 2018 Credit borrowing
Finance Company 10,000,000.00 27 December 2017 15 June 2019 Credit borrowing
Finance Company 10,000,000.00 27 December 2017 15 December 2019 Credit borrowing
Finance Company 10,000,000.00 27 December 2017 15 June 2020 Credit borrowing
Finance Company 90,000,000.00 27 December 2017 15 June 2018 Credit borrowing
Finance Company 60,000,000.00 27 December 2017 26 December 2020 Credit borrowing
Finance Company 2,500,000.00 4 December 2017 5 November 2020 Credit borrowing
Finance Company 2,980,000.00 12 January 2017 11 January 2020 Credit borrowing
Finance Company 20,000.00 12 January 2017 15 June 2018 Credit borrowing
Finance Company 7,910,000.00 3 January 2017 28 December 2019 Credit borrowing
Finance Company 60,000.00 3 January 2017 15 June 2018 Credit borrowing
Finance Company 7,970,000.00 11 April 2017 11 April 2020 Credit borrowing
Finance Company 4,500,000.00 11 July 2017 10 July 2018 Credit borrowing
Finance Company 9,200,000.00 1 January 2018 5 November 2020 Credit borrowing
Finance Company 2,400,000.00 1 January 2018 5 May 2020 Credit borrowing
Finance Company 5,000,000.00 5 January 2018 15 June 2018 Credit borrowing
Finance Company 5,000,000.00 5 January 2018 15 December 2018 Credit borrowing
Finance Company 10,000,000.00 5 January 2018 15 June 2019 Credit borrowing
Finance Company 10,000,000.00 5 January 2018 15 December 2019 Credit borrowing
Finance Company 10,000,000.00 5 January 2018 15 June 2020 Credit borrowing
Finance Company 360,000,000.00 5 January 2018 15 December 2020 Credit borrowing
Finance Company 6,000,000.00 17 May 2018 16 May 2019 Credit borrowing
Master Melon Capital 3,825,750,000.00 15 May 2017 10 May 2022 Credit borrowing
Subtotal 4,487,790,000.00
Lent to:
Xinjin Hotel Management 5,100,000.00 15 November 2017 14 November 2018 Entrusted loan
Xinjin Hotel Management 900,000.00 15 November 2017 15 June 2018 Entrusted loan
Subtotal 6,000,000.00
Interest income and expenses between the Group and the related parties are as below:
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Interest expenses 12,658,157.74 12,722,073.37
Interest income 6,819,988.81 6,363,316.69
136
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
X. RELATED PARTY RELATIONSHIPS AND TRANSACTIONS - continued
5. Related party transactions - continued
(5) Borrowed from / Lent to related parties - continued
The Group deposits part of settlement funds and idle funds into Finance Company, and the closing balance and
transaction amount of the current period are listed as below:
RMB
Finance Company 30 June 2018 31 December 2017
Closing balance of the deposit 1,481,753,598.03 1,466,352,167.87
RMB
Period from Period from
Finance Company 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Accumulative amount of deposits at Finance Company 6,834,011,953.39 6,547,066,241.27
Accumulative amount of deposits withdrawn from
Finance Company 6,818,610,523.23 6,319,753,492.66
(6) During the reporting period, no asset transfer with related parties or debt restructuring occurred.
(7) The Group has no other related transactions during this reporting period.
6. Amounts due from/to related parties
(1) Accounts receivable
RMB
30 June 2018 31 December 2017
Items Related parties Bad debt Bad debt
Book balance Book balance
provision provision
Accounts receivable Jin Jiang Hotels Group and its subsidiaries 1,875,699.09 - 1,332,479.69 -
Accounts receivable Jin Jiang International and its subsidiaries 85,921,521.06 - 55,489,402.89 -
Accounts receivable Associates of GDL 30,364,595.18 4,544,991.00 27,120,794.80 3,475,924.65
Subtotal 118,161,815.33 4,544,991.00 83,942,677.38 3,475,924.65
Other receivables Jin Jiang Hotels Group and its subsidiaries 2,680,968.15 - 1,139,545.44 -
Other receivables Jin Jiang International and its subsidiaries 9,369,539.04 - 1,315,796.83 -
Other receivables Associates of GDL 5,547,337.50 5,547,337.50 5,656,667.50 5,656,667.50
Other receivables Associates of Keystone - - 1,451,635.63 -
Subtotal 17,597,844.69 5,547,337.50 9,563,645.40 5,656,667.50
Advances from suppliers Jin Jiang Hotels Group and its subsidiaries 4,319,812.85 - - -
Subtotal 4,319,812.85 - - -
Interest receivable Jin Jiang Hotels Group and its subsidiaries 1,584,237.55 - 913,745.05 -
Interest receivable Associate of Hotel Investment 12,120.00 - 7,975.00 -
Subtotal 1,596,357.55 - 921,720.05 -
Other current assets Associates of Keystone 5,543,803.80 5,543,803.80 5,543,803.80 5,543,803.80
Other current assets Associate of Hotel Investment 5,100,000.00 - 6,000,000.00 -
Subtotal 10,643,803.80 5,543,803.80 11,543,803.80 5,543,803.80
(2) Accounts payable
RMB
Items Related parties 30 June 2018 31 December 2017
Accounts payable Jin Jiang Hotels Group and its subsidiaries 2,409,998.83 3,246,128.36
Accounts payable Jin Jiang International and its subsidiaries 8,842,721.77 7,455,263.21
Subtotal 11,252,720.60 10,701,391.57
Other payables Jin Jiang Hotels Group and its subsidiaries 1,960,657.50 4,323,194.70
Other payables Jin Jiang International and its subsidiaries 5,353,561.17 2,360,004.42
Subtotal 7,314,218.67 6,683,199.12
Interest payable Jin Jiang Hotels Group and its subsidiaries 616,755.14 166,585.29
Interest payable Associate of Hotel Investment 1,500.00 1,050.00
Subtotal 618,255.14 167,635.29
137
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XI. COMMITMENTS AND CONTINGENCIES
1. Significant commitments
(1) Capital commitments
RMB'000
30 June 2018 31 December 2017
Capital commitments that have been entered into but have not
been recognized in the financial statements:
- Commitment for acquisition and construction of long-term assets 245,576 235,578
- Commitments for external investment - 1,204,800
Total 245,576 1,440,378
(2) Operating lease commitments
At the balance sheet date, the Group had the following commitments in respect of non-cancellable operating
leases:
RMB'000
30 June 2018 31 December 2017
Minimum lease payments under non-cancellable operating leases:
1st year subsequent to the balance sheet date 1,634,038 1,746,817
2nd year subsequent to the balance sheet date 1,683,519 1,704,613
3rd year subsequent to the balance sheet date 1,591,922 1,638,118
Subsequent years 8,505,803 9,605,257
Total 13,415,282 14,694,805
2. Fulfillment of prior commitments
During the reporting period, the prior commitments of the Group have been fully achieved.
3. Contingencies
At the end of reporting period, the Group has no significant contingencies.
XII. EVENTS SUBSEQUENT TO THE BALANCE SHEET DATE
No.
XIII. SEGMENT REPORTING
Based on the Group's internal organization structure, management requirements and internal reporting system,
the operations of the Group are classified into 4 reporting segments. The Group's management periodically
evaluates the operating results of these reporting segments to make decisions about resources to be allocated to
the segments and assess their performance. The Group has determined 4 reporting segments on the basis of
operating segments, including management and operation business of limited-service hotels in Mainland China,
management and operation business of limited-service hotels outside Mainland China, food and catering
business and other business. The major products and services provided by the reporting segments are hotel
services in Mainland China, hotel services outside Mainland China, catering services and other businesses
respectively.
Segment information is disclosed in accordance with the accounting policies and measurement criteria adopted
by each segment when reporting to management. The measurement criteria are consistent with the accounting
and measurement criteria in the preparation of the financial statements.
The inter-segment transfer price is determined by reference to the market price, and the expenses indirectly
attributed to each segment are distributed among the segments according to the income ratio.
138
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIII. SEGMENT REPORTING - continued
1. Information of reporting segments
Segment information for the period from 1 January 2018 to 30 June 2018 is set below：
RMB
Operation and Operation and
management management Food and Inter-segment
Others Total
of limited-service hotels of limited-service hotels catering business eliminations
in Mainland China outside Mainland China
Operating income
Revenue arising from external transactions 4,847,164,849.58 1,978,347,461.35 113,579,597.48 257,239.92 - 6,939,349,148.33
Revenue arising from inter-segment transactions 207,469.02 3,814,072.14 2,227,107.77 1,779,999.86 (8,028,648.79) -
Total operating income 4,847,372,318.60 1,982,161,533.49 115,806,705.25 2,037,239.78 (8,028,648.79) 6,939,349,148.33
Operating cost
Cost arising from external transactions 497,820,789.62 150,324,013.83 53,000,819.84 - - 701,145,623.29
Cost arising from inter-segment transactions - - 1,456,020.76 - (1,456,020.76) -
Total operating cost of segments 497,820,789.62 150,324,013.83 54,456,840.60 - (1,456,020.76) 701,145,623.29
Less: Taxes and levies 31,904,640.23 79,029,051.90 349,475.60 684,674.95 - 111,967,842.68
Selling expenses 2,544,858,170.56 1,107,374,538.56 21,699,123.37 - (664,611.90) 3,673,267,220.59
Administrative expenses 1,238,771,476.47 453,173,207.19 47,571,229.90 18,321,997.91 (5,908,016.13) 1,751,929,895.34
Research and development expenses 1,531,727.05 - - - - 1,531,727.05
Financial expenses 19,935,622.61 82,669,903.12 879,513.59 101,712,637.60 (4,079,309.40) 201,118,367.52
Impairment losses of assets 30,287,035.38 9,442,398.97 (764.50) - - 39,728,669.85
Add: Profits or losses arising from changes in fair value - 12,845,935.20 - - - 12,845,935.20
Investment income (2,961,913.80) 15,132,871.17 141,900,643.51 85,884,428.82 (4,079,309.40) 235,876,720.30
Income (loss) from disposal of assets 75,201,419.18 120,734.85 693,621.11 (10,370.50) - 76,005,404.64
Other income 13,528,878.19 - 1,098,800.00 10,751,650.94 - 25,379,329.13
Carrying amount of operating profit of segments 568,031,240.25 128,247,961.14 134,544,351.31 (22,056,361.42) - 808,767,191.28
Non-operating income 16,300,125.52 10,345,118.82 34,974.55 29,970.79 - 26,710,189.68
Non-operating expenses 882,845.04 4,106,779.49 290,457.20 - - 5,280,081.73
Total carrying amount of operating profit of segments 583,448,520.73 134,486,300.47 134,288,868.66 (22,026,390.63) - 830,197,299.23
Income tax 191,663,675.35 54,020,196.11 1,173,586.17 606,801.00 - 247,464,258.63
Net carrying amount of profits of segments 391,784,845.38 80,466,104.36 133,115,282.49 (22,633,191.63) - 582,733,040.60
Less: Amortization of fair value of net identifiable assets of
45,837,035.37 (35,616,339.79) - - - 10,220,695.58
the aquiree exceeding the carrying amount at the acquisition date (Note)
Net profit 345,947,810.01 116,082,444.15 133,115,282.49 (22,633,191.63) - 572,512,345.02
Profit or loss attributable to minority shareholders 69,703,782.16 (70,974.41) (529,293.64) - - 69,103,514.11
Net profit attributable to owners of the parent company 276,244,027.85 116,153,418.56 133,644,576.13 (22,633,191.63) - 503,408,830.91
139
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIII. SEGMENT REPORTING - continued
1. Information of reporting segments - continued
Segment information for the period from 1 January 2018 to 30 June 2018 is set below：- continued
RMB
Operation and management of Operation and management of
Food and Inter-segment
limited-service hotels limited-service hotels Others Total
catering business eliminations
in Mainland China outside Mainland China
Total assets 24,185,089,992.37 13,485,805,792.02 291,027,262.08 2,272,767,654.79 (795,974,440.80) 39,438,716,260.46
Including: Carrying amount of assets 14,884,888,829.38 6,339,976,232.33 96,977,861.16 2,218,297,924.39 (795,974,440.80) 22,744,166,406.46
Carrying amount of long-term equity investment 48,061,739.70 64,535,492.46 194,049,400.92 54,469,730.40 - 361,116,363.48
Amortized amount of fair value of identifiable assets of the aquiree
2,744,117,595.56 2,288,047,062.96 - - - 5,032,164,658.52
exceeding the carrying amount at the acquisition date(note)
Goodwill 6,508,021,827.73 4,793,247,004.27 - - - 11,301,268,832.00
Total liabilities 7,642,020,548.10 12,268,056,223.36 152,265,691.60 6,456,748,184.37 (494,884,629.22) 26,024,206,018.21
Including: Carrying amount of liabilities 6,955,991,149.21 11,658,242,621.20 152,265,691.60 6,456,748,184.37 (494,884,629.22) 24,728,363,017.16
Amortized amount of fair value of identifiable liabilities of
686,029,398.89 609,813,602.16 - - - 1,295,843,001.05
the aquiree exceeding the carrying amount at the acquisition date(note)
Supplementary information:
Depreciation 142,694,654.95 163,965,390.37 794,720.32 403,803.88 - 307,858,569.52
Amortization 354,501,826.20 25,567,959.59 319,760.32 165,418.42 - 380,554,964.53
Interest income 29,248,884.04 433,189.42 175,201.78 68,040,387.77 - 97,897,663.01
Interest expenses 30,748,376.11 68,138,337.12 969,537.34 164,365,233.74 (4,079,309.40) 260,142,174.91
Impairment losses recognized (reversed) in the current period 30,287,035.38 9,442,398.97 (764.50) - - 39,728,669.85
Investment income(loss) from long-term equity investments under equity method (3,080,699.64) 6,037,322.08 66,405,277.41 (2,633,845.21) - 66,728,054.64
Amount of long-term equity investments under equity method 48,061,739.70 64,535,492.46 194,049,400.92 54,469,730.40 - 361,116,363.48
Non-current assets other than long-term equity investment 18,072,115,984.87 11,753,885,230.76 34,931,328.25 852,129,273.64 (595,983,267.71) 30,117,078,549.81
Capital expenditure 319,398,104.00 93,746,202.21 221,565.67 67,401.70 - 413,433,273.58
Including: Expenditure arising from construction in progress 292,441,113.55 55,411,471.75 - - - 347,852,585.30
Expenditure arising from acquisition of fixed assets 25,593,873.43 29,380,678.72 221,565.67 2,529.91 - 55,198,647.73
Expenditure arising from acquisition of intangible assets 1,363,117.02 6,454,148.49 - 64,871.79 - 7,882,137.30
Expenditure arising from acquisition of long-term prepaid expenses - 2,499,903.25 - - - 2,499,903.25
Note: The amounts represent the amortized amounts of fair value of identifiable assets and liabilities exceeding their carrying amount at the time of the acquisition of Smartel,
GDL, Keystone, Vienna and Longevity Village, segments not involving enterprises under common control during the reporting period and the Deferred income tax
influences and amortized amounts at the end of the reporting period.
140
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIII. SEGMENT REPORTING - continued
1. Information of reporting segments - continued
Segment information for the period from 1 January 2017 to 30 June 2017 is set below：
RMB
Operation and management Operation and management
Food and Inter-segment
of limited-service hotels of limited-service hotels Others Total
catering business eliminations
in Mainland China outside Mainland China
Operating income
Revenue arising from external transactions 4,370,282,061.86 1,793,923,433.91 124,717,759.51 89,895.25 - 6,289,013,150.53
Revenue arising from inter-segment transactions 261,230.90 9,387,400.47 2,320,435.45 997,683.42 (12,966,750.24) -
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 transactions - - 1,550,708.03 540,540.54 (2,091,248.57) -
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 value - - - - - -
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
Other income 17,100,017.83 1,000,000.00 - - - 18,100,017.83
Carrying amount of operating profit of segments 429,041,792.70 103,783,282.79 105,058,053.76 (33,568,977.83) - 604,314,151.42
Non-operating income 11,124,968.80 2,310,092.21 1,182,123.66 355,096.53 - 14,972,281.20
Non-operating expenses 25,942,691.18 656,509.30 43,046.06 1,080.68 - 26,643,327.22
Total carrying amount of operating profit of segments 414,224,070.32 105,436,865.70 106,197,131.36 (33,214,961.98) - 592,643,105.40
Income tax 135,984,801.45 29,580,270.49 1,105,311.35 321,167.07 - 166,991,550.36
Net carrying amount of profits of segments 278,239,268.87 75,856,595.21 105,091,820.01 (33,536,129.05) - 425,651,555.04
Less: Amortization of fair value of net identifiable assets of the aquiree exceeding
45,837,035.38 (71,257,711.22) - - - (25,420,675.84)
the carrying amount at the acquisition date (Note)
Net profit 232,402,233.49 147,114,306.43 105,091,820.01 (33,536,129.05) - 451,072,230.88
Profit or loss attributable to minority shareholders 41,098,266.37 (2,394,025.62) (85,699.28) - - 38,618,541.47
Total profit attributable to owners of the parent company 191,303,967.12 149,508,332.05 105,177,519.29 (33,536,129.05) - 412,453,689.41
141
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIII. SEGMENT REPORTING - continued
1. Information of reporting segments - continued
Segment information for the period from 1 January 2017 to 30 June 2017 is set below：- continued
RMB
Operation and management Operation and management of
Food and Inter-segment
of limited-service hotels limited-service hotels Others Total
catering business eliminations
in Mainland China outside 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: Carrying amount of 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 50,859,056.28 90,312,836.61 188,008,914.93 59,367,827.31 - 388,548,635.13
Amortized amount of fair value of identifiable assets of
2,866,349,689.90 2,356,727,486.01 - - - 5,223,077,175.91
the aquiree exceeding the 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: Carrying amount of 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
Amortized amount of fair value of identifiable liabilities of
716,587,422.48 695,320,705.84 - - - 1,411,908,128.32
the aquiree exceeding the carrying amount at the acquisition date(note)
Supplementary 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) in the current period 17,582,339.07 (8,662,315.08) 4,847,362.25 - - 13,767,386.24
Investment income(loss) from long-term equity investments under equity method (565,518.56) 1,814,512.95 60,324,918.36 (8,162,508.19) - 53,411,404.56
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
Non-current assets other than long-term equity investment 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
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 acquisition of fixed assets 29,802,048.61 33,606,534.03 61,286.61 633.21 - 63,470,502.46
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 of long-term prepaid expenses 6,842,004.00 1,150,372.03 - - - 7,992,376.03
Note: The amounts represent the amortized amounts of fair value of identifiable assets and liabilities exceeding their carrying amount at the time of the acquisition of Smartel,
GDL, Keystone, Vienna and Longevity Village, segments not involving enterprises under common control during the reporting period and the Deferred income tax
influences and amortized amounts at the end of the reporting period.
142
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS
1. Cash and bank balances
RMB
30 June 2018 31 December 2017
Item Amount in Exchange Amount in Amount in Exchange Amount in
foreign currency rate RMB foreign currency rate RMB
Cash:
RMB 253,465.44 442,827.96
Bank balances:
RMB 451,545,239.01 4,364,155,181.87
USD 16,572,067.35 6.6166 109,650,740.81 64,854,400.01 6.5342 423,772,449.55
Deposit in other financial institution (Note):
RMB 603,053,497.71 160,033,477.59
Total 1,164,502,942.97 64,854,400.01 4,948,403,936.97
Note ：Deposit in other financial institution represents the amount deposited in Finance Company.
2. Notes receivable and accounts receivable
At 30 June 2018 and 31 December 2017, the balance of the Company’s notes payable is RMB 0.
(1) Disclosure of accounts receivable by categories:
RMB
30 June 2018 2 31 December 2017
Book balance Bad debt provision Book balance 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
22,008,784.86 100.00 1,138,585.04 5.17 20,870,199.82 18,326,435.01 100.00 144,115.93 0.79 18,182,319.08
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 22,008,784.86 100.00 1,138,585.04 5.17 20,870,199.82 18,326,435.01 100.00 144,115.93 0.79 18,182,319.08
Accounts receivable portfolios for which bad debt provision has been assessed using the aging analysis
approach:
RMB
30 June 2018
Aging
Amount Bad debt provision Ratio (%)
Within 3 months 17,712,381.99 - -
3 to 6 months 1,439,301.06 7,054.46 0.50
6 to 12 months 2,300,761.64 575,190.41 25.00
More than 12 months 556,340.17 556,340.17 100.00
Total 22,008,784.86 1,138,585.04 5.17
(2) Provision, recovery or reversal of bad debt provision for the period
RMB
Item 31 December 2017 Provision Reversal Write-off 30 June 2018
Bad debt provision 144,115.93 1,004,433.12 (9,964.01) - 1,138,585.04
143
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
2. Notes receivable and accounts receivable - continued
(3) Top five entities with the largest balances of accounts receivable
RMB
Proportion of
Relationship
total accounts Bad debt
Name of entity with the Amount
receivable provision
Company
(%)
Shanghai Jin Jiang International E-commerce Co., Ltd. Related party 3,178,459.06 14.44 -
Shanghai Yangpu Tang Palace Seafood Fang Co., Ltd. Third party 2,836,252.66 12.89 518,189.32
Shanghai Hecheng International Travel Agency Co., Ltd. Third party 1,177,654.00 5.35 -
Jinya Catering Subsidiary 799,999.90 3.63 -
Rongge Catering (Shanghai) Co., Ltd. Third party 398,125.02 1.81 -
Total 8,390,490.64 38.12 518,189.32
3. Other receivables
RMB
Item 30 June 2018 31 December 2017
Other receivables 98,188,389.11 104,109,271.11
Divedends receivable 207,042,892.50 19,501,982.55
Interest receivable 214,669.00 406,664,071.10
Total 305,445,950.61 530,275,324.76
(1) Disclosure of other receivables by categories
RMB
30 June 2018 31 December 2017
Book balance Bad debt provision Book balance Bad debt provision
Category Rati
Ratio Book value Ratio Ratio Book value
Amount Amount o Amount Amount
(%) (%) (%)
(%)
Other receivables that are
individually significant and
for which bad debt provision 81,841,372.33 82.84 - - 81,841,372.33 83,004,716.64 79.27 - - 83,004,716.64
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 16,953,282.71 17.16 606,265.93 3.58 16,347,016.78 21,710,820.40 20.73 606,265.93 2.79 21,104,554.47
has been assessed
individually
Total 98,794,655.04 100.00 606,265.93 0.61 98,188,389.11 104,715,537.04 100.00 606,265.93 0.58 104,109,271.11
At the end of the reporting period, the other receivables that are individually significant are amounts over RMB
5,000,000.00 due from the related parties.
(2) Provision, recovery or reversal of bad debt provision for the period
In the current period, the balance of bad debt provision for other receivables is unchanged.
(3) Disclosure of other receivables by nature
RMB
Nature 30 June 2018 31 December 2017
Advances for related parties 94,414,064.16 100,911,591.83
Deposits and guarantees 541,370.38 543,370.38
Revolving fund 209,700.00 201,500.00
Others 3,023,254.57 2,452,808.90
Total 98,188,389.11 104,109,271.11
144
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
3. Other receivables - continued
(4) Top five entities with the largest balances of other receivables
RMB
Proportion of
Relationship Closing balance
total other
Name of entity Nature with the Amount Aging of bad debt
receivables
Company provision
(%)
Da Hua Hotel Advances for related parties Subsidiary 42,060,509.29 4至8年 42.57 -
Minhang Hotel Advances for related parties Subsidiary 20,215,458.58 3至6年 20.46 -
Jinjiang Inn Advances for related parties Subsidiary 10,356,048.64 1至5年 10.48 -
Louvre Asia Advances for related parties Subsidiary 9,209,355.82 2至6年 9.32 -
Food and Beverage Serving Equipment Advances for related parties Subsidiary 4,472,035.67 2至7年 4.53 -
Total 86,313,408.00 87.36 -
(5) Interest receivable
RMB
Item 30 June 2018 31 December 2017
Term deposits at banks - 406,373,790.26
Entrusted loan 214,669.00 290,280.84
Total 214,669.00 406,664,071.10
(6) Dividends receivable
RMB
31 December 30 June Reasons for Whether
Item Addition Deduction
2017 2018 outstanding impaired
Aging within 1 year
(1) Jin Jiang Inn - 150,000,000.00 - 150,000,000.00 Haven’t paid yet No
(2) Jin Jiang Metropolo - 41,000,000.00 (41,000,000.00) - N/A No
(3) Jin Jiang Food - 900,000.00 (450,000.00) 450,000.00 Haven't paid completely No
(4) Shanghai New Asia Fulihua Catering Co., Ltd. - 5,740,000.00 (5,740,000.00) - N/A No
(5) Shanghai Kentucky Fried Chicken Co., Ltd. - 113,316,970.03 (113,316,970.03) - N/A No
(6) Hangzhou Kentucky Fried Chicken Co., Ltd. 19,482,475.25 45,927,333.18 (28,667,325.42) 36,742,483.01 Haven't paid completely No
(7) Suzhou Kentucky Fried Chicken Co., Ltd. - 20,399,349.80 (12,800,000.00) 7,599,349.80 Haven't paid completely No
(8) Wuxi Kentucky Fried Chicken Co., Ltd. 19,507.30 9,168,683.11 (4,000,000.00) 5,188,190.41 Haven't paid completely No
(9) Chang Jiang Security Co., Ltd. - 6,000,000.00 - 6,000,000.00 Haven’t paid yet No
(10) Shenwan Hongyuan Co., Ltd. - 748,478.20 - 748,478.20 Haven’t paid yet No
(11) Others 314,391.08 314,391.08 Haven’t paid yet No
Total 19,501,982.55 393,515,205.40 (205,974,295.45) 207,042,892.50 -- --
At the end of the reporting period, there is no dividends receivable with aging of more than one year.
4. Inventories
RMB
30 June 2018 31 December 2017
Item Provision for Provision for
Book balance Book value Book balance Book value
decline in value decline in value
Raw materials 823,276.26 - 823,276.26 996,991.69 - 996,991.69
Goods on hand 2,701,252.70 - 2,701,252.70 2,519,693.77 - 2,519,693.77
Total 3,524,528.96 - 3,524,528.96 3,516,685.46 - 3,516,685.46
145
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
5. Other current assets
RMB
Item 30 June 2018 31 December 2017
VAT - 6,383,549.81
Income tax 1,286,781.88 -
Deferred expenses 2,328,467.39 -
Total 3,615,249.27 6,383,549.81
6. Long-term receivables
RMB
30 June 2018 31 December 2017
Capital appropriation to related parties 10,328,000.00 10,328,000.00
Total 10,328,000.00 10,328,000.00
Note: The balance of long-term receivables is current capital appropriation to New Asia Food.
7. Long-term equity investments
(1) Details of long-term equity investments are as follows:
RMB
Item 30 June 2018 31 December 2017
Investments in subsidiaries 15,369,025,680.26 14,164,247,303.87
Investments in associates 246,725,564.44 303,820,948.75
Total 15,615,751,244.70 14,468,068,252.62
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 15,613,699,944.70 14,466,016,952.62
(2) Movements of provision for impairment of long-term equity investments for the period:
RMB
Investee 31 December 2017 Addition Deduction 30 June 2018
Subsidiary
Shanghai Food and Beverage Serving Equipment Co., Ltd. 2,051,300.00 - - 2,051,300.00
Total 2,051,300.00 - - 2,051,300.00
146
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
7. Long-term equity investments - continued
(3) Details of long-term equity investments in subsidiary are as follows:
RMB
Remark on
Equity interest Voting right
inconsistency Closing balance
Accounting Initial 31 December Additions Provision for 30 June in the in the
Investee between equity of provision
method investment cost 2017 (Note2) impairment 2018 investee investee
interest and for impairment
(%) (%)
voting right
Subsidiary
Catering Investment Cost method 149,804,836.13 149,804,836.13 - - 149,804,836.13 100% 100% N/A -
Jin Jiang Food (Note 1) Cost method 3,269,783.41 3,269,783.41 - - 3,269,783.41 18% 18% N/A -
Minhang Hotel (Note 1) Cost method 5,505,600.00 5,505,600.00 - - 5,505,600.00 98.25% 98.25% N/A -
Food and Beverage Serving Equipment Cost method 2,051,300.00 2,051,300.00 - - 2,051,300.00 100% 100% N/A 2,051,300.00
New Asia Food (Note 1) Cost method 1,088,150.00 1,088,150.00 - - 1,088,150.00 5% 5% N/A -
Jin Jiang Inn Cost method 377,261,176.09 377,261,176.09 - - 377,261,176.09 100% 100% N/A -
Hotel Investment Cost method 2,033,088,660.71 2,033,088,660.71 - - 2,033,088,660.71 100% 100% N/A -
Da Hua Hotel Cost method 18,692,739.64 18,692,739.64 - - 18,692,739.64 100% 100% N/A -
Louvre Asia Cost method 50,000,000.00 50,000,000.00 - - 50,000,000.00 100% 100% N/A -
Smartel Cost method 986,345,057.89 1,286,345,057.89 - - 1,286,345,057.89 100% 100% N/A -
Jin Pan Hotel Cost method 5,000,000.00 5,000,000.00 - - 5,000,000.00 100% 100% N/A -
Jin Lu Investment Cost method 350,000,000.00 350,000,000.00 - - 350,000,000.00 100% 100% N/A -
Keystone (Note 2) Cost method 9,337,318,376.39 8,132,540,000.00 1,204,778,376.39 - 9,337,318,376.39 93.0035% 93.0035% 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 -
Total 15,069,025,680.26 14,164,247,303.87 1,204,778,376.39 - 15,369,025,680.26 2,051,300.00
Note 1: The Company and its subsidiary, Catering Investment hold 18% and 92% equity in Jin Jiang Food, 98.25% and 1.75% in Minhang Hotel and 5% and 95% in New Asia
Food respectively.
Note 2: During the reporting period, the Company acquired the minority interests in Keystone, and increased the long-term equity investment by RMB 1,204,778,376.39. After
the acquisition, the Company holds 93.0035% equity in Keystone.
147
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
7. Long-term equity investments - continued
(4) Details of investments in associates are as follows:
RMB
Movements
Closing balance
Initial 31 December Profit or loss 30 June
Investee Other Declaration of Provision of provision
investment cost 2017 recognized Other 2018
Additions Deduction changes cash dividends for Others for impairment
under equity reductions
in equity or profits impairment
method
Associate
Shanghai Kentucky Fried Chicken Co., Ltd. 97,977,250.00 213,299,451.31 - - 62,980,270.34 - - (113,316,970.03) - - 162,962,751.62 -
New Asia Fulihua 14,350,000.00 31,156,022.06 - - 3,877,060.36 - - (5,740,000.00) - - 29,293,082.42 -
Xinlu Catering 2,719,227.00 2,335,466.77 - - (73,567.01) (2,261,899.76) - - - - - -
Qicheng Network 100,000,000.00 57,030,008.61 - - (2,560,278.21) - - - - - 54,469,730.40 -
Total 215,046,477.00 303,820,948.75 - - 64,223,485.48 (2,261,899.76) - (119,056,970.03) - - 246,725,564.44 -
During the reporting period, the Company is not exposed to limitation on the transfer of funds from the investee.
148
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
8. Fixed assets
Composition of fixed assets
RMB
Machinery and
Item Buildings Motor vehicles Decoration Total
equipment
I. Cost
1.31 December 2017 63,212,256.15 88,556,416.65 1,488,519.51 18,998,263.91 172,255,456.22
2. Additions
(1) Purchase - 1,485,859.46 - - 1,485,859.46
(2)Transferred from
- 6,207,412.86 - - 6,207,412.86
construction in progress
3.Deduction
(1) Disposal or retirement - (231,896.00) - - (231,896.00)
(2) Construction clearing
- (41,367.10) - 91,093.21 49,726.11
adjustment
4. 30 June 2018 63,212,256.15 95,976,425.87 1,488,519.51 19,089,357.12 179,766,558.65
II. Accumulated depreciation
1. 31 December 2017 21,523,808.58 38,778,764.86 1,351,011.26 15,623,860.45 77,277,445.15
2. Addition- provision 1,228,142.40 5,975,748.83 3,834.33 1,364,290.74 8,572,016.30
3. Deduction- disposal or
- (216,440.02) - - (216,440.02)
retirement
4. 30 June 2018 22,751,950.98 44,538,073.67 1,354,845.59 16,988,151.19 85,633,021.43
III. Provision for impairment
1. 31 December 2017 - - - - -
2. Addition - - - - -
3. Deduction - - - - -
4. 30 June 2018 - - - - -
IV. Book value
1. 30 June 2018 40,460,305.17 51,438,352.20 133,673.92 2,101,205.93 94,133,537.22
2. 31 December 2017 41,688,447.57 49,777,651.79 137,508.25 3,374,403.46 94,978,011.07
9. Construction in progress
(1) Details of construction in progress are as follows:
RMB
30 June 2018 31 December 2017
Item Book Provision for Net book Book Provision for Net book
balance impairment value balance impairment value
Renovation of Shanghai Republic New Road Kyriad 21,037,535.80 - 21,037,535.80 13,812,529.41 - 13,812,529.41
Renovation of Jin Jiang Metropolo, South Huating Hotel - - - 45,582,159.82 - 45,582,159.82
Renovation of Jin Jiang Metropolo Nanjing Hotel 313,303.19 - 313,303.19 314,388.74 - 314,388.74
Other renovation 3,959,190.36 - 3,959,190.36 450,177.02 - 450,177.02
Total 25,310,029.35 - 25,310,029.35 60,159,254.99 - 60,159,254.99
149
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
9. Construction in progress - continued
(2) Movements of significant construction in progress
RMB
Other Proportion of
Transfer to Cumulative Including: Capitalization
deduction: construction Construction
31 December Transfer to long-term 30 June capitalization Capitalization rate of Source of
Item Budget Addition Construction inputs in progress
2017 fixed assets prepaid 2018 amount of amount of interest capital
clearing budget (%)
expenses interest interest (%)
adjustment (%)
Renovation of Shanghai Republic New Road Kyriad 21,250,000.00 13,812,529.41 7,225,006.39 - - - 21,037,535.80 99.00% 99.00% - - - Self-financing
Renovation of Jin Jiang Metropolo, South Huating Hotel 46,002,906.00 45,582,159.82 - (5,085,978.80) (38,603,285.80) (1,892,895.22) - 100.00% 100.00% - - - Self-financing
Renovation of Jin Jiang Metropolo Nanjing Hotel 50,000,000.00 314,388.74 643,916.45 (645,002.00) - - 313,303.19 99.51% 99.51% - - - Self-financing
Other renovation 450,177.02 3,985,445.40 (476,432.06) - - 3,959,190.36 - - - Self-financing
Total 60,159,254.99 11,854,368.24 (6,207,412.86) (38,603,285.80) (1,892,895.22) 25,310,029.35 - - -
150
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
10. Intangible assets
RMB
Item Land use rights Others Total
I. Cost
1. 31 December 2017 91,847,425.45 2,063,806.37 93,911,231.82
2. Purchase - 64,871.79 64,871.79
3. Transferred from construction in progress - - -
4. Deduction - (63,333.33) (63,333.33)
5. 30 June 2018 91,847,425.45 2,065,344.83 93,912,770.28
II. Accumulated amortization
1. 31 December 2017 39,474,634.54 1,980,383.33 41,455,017.87
2. Addition-provision 1,171,202.88 23,737.92 1,194,940.80
3. Deduction - (10,742.16) (10,742.16)
4. 30 June 2018 40,645,837.42 1,993,379.09 42,639,216.51
III. Provision for impairment
1. 31 December 2017 - - -
2. Addition - - -
3. Deduction - - -
4. 30 June 2018 - - -
IV. Book value
1. 30 June 2018 51,201,588.03 71,965.74 51,273,553.77
2. 31 December 2017 52,372,790.91 83,423.04 52,456,213.95
11. Long-term prepaid expenses
RMB
Other
31 December Additions 30 June
Item
2017 (Note)
Amortization deduction
2018
(Note)
Leasehold decoration of fixed assets 63,384,196.38 10,199,672.39 (6,724,934.82) (10,786,399.44) 56,072,534.51
Leasehold improvement of fixed assets 137,550,785.41 28,403,613.41 (7,639,530.85) (334,413.56) 157,980,454.41
Total 200,934,981.79 38,603,285.80 (14,364,465.67) (11,120,813.00) 214,052,988.92
Note： The additions in the period include long-term prepaid expenses of RMB 38,603,285.80 transferred from
construction in progress and the deduction is construction clearing adjustment of RMB 11,120,813.00.
12. Other non-current assets
RMB
Item 30 June 2018 31 December 2017
Entrusted loan (Note: (XIV)30(5)) 210,000,000.00 250,000,000.00
Total 210,000,000.00 250,000,000.00
13. Deferred tax assets/deferred tax liabilities
(1) Deferred tax assets before offsetting are set below
RMB
30 June 2018 31 December 2017
Item Deductible Deductible
Deferred Deferred
temporary temporary
tax assets tax assets
differences differences
Employee benefits payable 16,555,610.00 4,138,902.50 19,390,825.98 4,847,706.50
Provision for impairment of assets 6,744,850.97 1,686,212.74 5,750,381.86 1,437,595.46
Government grants 4,125,000.00 1,031,250.00 4,455,550.00 1,113,887.50
Advances of membership card and deferred income of credit 149,919.59 37,479.90 630,312.60 157,578.15
Rent adjustment with straight-line mehod 4,533,713.51 1,133,428.38 4,309,227.78 1,077,306.95
Total 32,109,094.07 8,027,273.52 34,536,298.22 8,634,074.56
151
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
13. Deferred tax assets/deferred tax liabilities - continued
(2) Deferred tax liabilities before offsetting are set below
RMB
30 June 2018 31 December 2017
Item Taxable Taxable
Deferred Deferred
temporary temporary
tax liabilities tax liabilities
differences differences
Changes in fair value of available-for-sale financial assets
230,713,396.63 57,678,349.16 429,316,014.39 107,329,003.63
recognized in other comprehensive income
Total 230,713,396.63 57,678,349.16 429,316,014.39 107,329,003.63
(3) Deferred tax assets and deferred tax liabilities that are presented at the net amount after offsetting
RMB
30 June 2018 31 December 2017
Offset amount Deferred tax assets Offset amount Deferred tax assets
Item between deferred or deferred tax between deferred or deferred tax
tax assets liabilities tax assets liabilities
and liabilities after offsetting and liabilities after offsetting
Deferred tax assets 8,027,273.52 - 8,634,074.56 -
Deferred tax liabilities 8,027,273.52 49,651,075.64 8,634,074.56 98,694,929.07
Remarks on deferred tax assets and deferred tax liabilities
The deductible temporary differences and deductible losses that did not recognize as deferred tax assets are as
follows:
RMB
Item 30 June 2018 31 December 2017
Deductible losses (Note) 174,090,121.10 146,615,681.12
Total 174,090,121.10 146,615,681.12
Note: Deductible losses, for which no deferred tax assets are recognized, will expire in the following periods
RMB
Item 30 June 2018 31 December 2017
2022 139,007,766.70 146,615,681.12
2023 35,082,354.40 -
Total 174,090,121.10 146,615,681.12
14. Details of provision for impairment loss of assets
RMB
31 December Deduction 30 June
Item Addition
2017 Reversal Written-off 2018
I. Provision for bad debt 750,381.86 1,004,433.12 (9,964.01) - 1,744,850.97
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 investments - - - - -
V. Provision for impairment loss of long-term equity investments 2,051,300.00 - - - 2,051,300.00
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 2,801,681.86 1,004,433.12 (9,964.01) - 3,796,150.97
152
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
15. Short-term borrowings
RMB
Item 30 June 2018 31 December 2017
Credit borrowing - 1,000,000,000.00
Total - 1,000,000,000.00
16. Employee benefits payable
(1) Employee benefits payable
RMB
31 December 30 June
Item Addition Deduction
2017 2018
1. Short-term benefits 15,908,840.52 47,894,375.32 (50,540,952.73) 13,262,263.11
2. Domestic post-employment benefits-defined contribution plan 150,971.06 6,501,898.44 (6,497,481.44) 155,388.06
3. Termination benefits 11,047,176.35 803,557.90 (3,638,773.88) 8,211,960.37
Total 27,106,987.93 55,199,831.66 (60,677,208.05) 21,629,611.54
(2) Short-term employee benefits
RMB
31 December 30 June
Item Addition Deduction
2017 2018
1. Wages or salaries, bonus, allowance, subsidies 15,253,439.09 39,342,926.08 (42,155,469.20) 12,440,895.97
2. Staff welfare - 2,555,747.44 (2,555,747.44) -
3. Social security insurance 16,744.69 2,866,900.50 (2,866,485.50) 17,159.69
Including: Medical insurance 16,102.08 2,517,019.31 (2,516,604.31) 16,517.08
Work injury insurance (32,255.23) 85,036.21 (85,036.21) (32,255.23)
Maternity insurance 32,897.84 264,844.98 (264,844.98) 32,897.84
4. Housing funds 20,314.00 2,342,504.00 (2,342,504.00) 20,314.00
5. Labor union and employee education fund 618,342.74 786,297.30 (620,746.59) 783,893.45
Total 15,908,840.52 47,894,375.32 (50,540,952.73) 13,262,263.11
(3) Defined contribution plan
RMB
31 December 30 June
Item Addition Deduction
2017 2018
1. Pension insurance 146,155.18 6,369,868.05 (6,365,451.05) 150,572.18
2. Unemployment insurance 4,815.88 132,030.39 (132,030.39) 4,815.88
Total 150,971.06 6,501,898.44 (6,497,481.44) 155,388.06
The Company follows policies to join in pension insurance and unemployment insurance plans which are
established by government authorities. According to such plans, the Company contributes to these plans on a
monthly basis following 21% and 1.5% of monthly average salaries of last year. In addition to the contributions
above, the Company does not assume further obligations. Corresponding expenditures incurred are included in
profit or loss or costs of related assets.
The Company shall contribute RMB 6,369,868.05 and RMB 132,030.39 (For the period from 1 January 2017 to
30 June 2017: RMB6,006,989.62 and RMB 227,540.94 ) to pension insurance and unemployment insurance
plan respectively for the period from 1 January 2018 to 30 June 2018. On 31 December 2017, the Group still
has outstanding contribution of RMB 150,572.18 and RMB 4,815.88 (31 December 2017: RMB146,155.18 and
RMB 4,815.88 )for pension insurance and unemployment insurance respectively. Relevant contributions
payable have been paid up after the reporting period.
153
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
17. Taxes payable
RMB
Item 30 June 2018 31 December 2017
Value added tax 745,937.26 5,221,587.10
Enterprise income tax 3,227,217.60 3,169,679.34
Individual income tax 70,369.81 347,505.11
Property tax (57,972.40) 72,731.96
Others 308,668.34 136,281.67
Total 4,294,220.61 8,947,785.18
18. Other payables
Item 30 June 2018 31 December 2017
Other payables 305,633,496.91 161,082,964.79
Dividends payable 502,414.89 463,047.45
Interest payable 20,014,618.30 21,759,008.32
Total 326,150,530.10 183,305,020.56
(1) Details of other payables are as follows:
RMB
Item 30 June 2018 31 December 2017
Payments for acquisition of Keystone minority interests 110,500,326.34 -
Accrued taxes for replacement of significant assets and 58,623,448.29
58,623,448.29
attached transactions
Payments for operating turnover 83,387,566.68 51,155,038.95
Intermediary fees for accrued share acquisition item 4,058,829.10 6,669,598.62
Accrued expenses 8,185,713.20 8,644,290.02
Advances 5,950,819.27 4,029,927.71
Others 34,926,794.03 31,960,661.20
Total 305,633,496.91 161,082,964.79
(2) At the end of the reporting period, other payables aged over 1 year with significant amount:
The accrued taxes outstanding for replacement of significant assets and attached transactions is RMB
58,623,448.29 that should be paid after the settlement of the relevant taxes.
(3) In addition to item (2), at the end of the financial reporting period, other payables of the Company mainly
include accrued lease expenses, advances, margin and deposits, and other miscellaneous.
19. Long-term borrowings
RMB
Item 30 June 2018 31 December 2017
Pledged borrowing (Note 1) 4,659,000,000.00 4,759,000,000.00
Credit borrowing(Note 2) 1,000,000,000.00 3,000,000,000.00
Credit borrowing-- Other financial institutions 495,000,000.00 200,000,000.00
Total 6,154,000,000.00 7,959,000,000.00
Less: Long-term borrowings due within one year 335,000,000.00 220,000,000.00
Long-term borrowings due after one year 5,819,000,000.00 7,739,000,000.00
154
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY’S FINANCIAL STATEMENTS - continued
19. Long-term borrowings - continued
Note 1: As at the end of the financial reporting period, the Company has borrowed RMB 4,659,000,000.00
from the Export-import Bank of China Co., Ltd., which is pledged with 81.0034% equity of its
subsidiary Keystone. The tenure is from 18 February 2016 through 18 February 2022 with floating
interest rate, but with average interest rate of 3.60% for this reporting period.
Note 2: As at the end of the financial reporting period, the Company has borrowed RMB 400,000,000.00 and
RMB 600,000,000.00 from China Construction Bank Shanghai Pudong Branch and Shanghai
International Trade Center Sub-Branch with floating interest rate ranging from 3.895% to 3.915%
during the financial reporting period.
20. Other non-current liabilities
RMB
Item 30 June 2018 31 December 2017
Government grants 4,125,000.00 4,455,550.00
Less: Other non-current liabilities due within one year 695,200.00 695,200.00
Other non-current liabilities due after one year 3,429,800.00 3,760,350.00
Items involving government grants
RMB
Included Related to assets/
Item Opening balance Addition
in other income Closing balance related to income
Xincheng Hotel project funds 4,455,550.00 - 330,550.00 4,125,000.00 Related to assets
Total 4,455,550.00 - 330,550.00 4,125,000.00
21. Capital reserve
RMB
Item 31 December 2017 Addition Deduction 30 June 2018
Capital premium 9,085,391,183.30 - - 9,085,391,183.30
Including: Capital contributed by investors 7,785,762,028.07 - - 7,785,762,028.07
Differences derived from business combination - -
1,299,629,155.23 1,299,629,155.23
involving enterprises under common control
Other capital reserve 104,054,896.12 - - 104,054,896.12
Including: Transfer from capital reserve under the previous
138,656,064.50 - - 138,656,064.50
accounting system
Other changes in owners' equity of investees except
net profit or loss, other comprehensive income (34,601,168.38) - - (34,601,168.38)
and profit appropriation
Total 9,189,446,079.42 - - 9,189,446,079.42
RMB
Item 31 December 2016 Addition Deduction 30 June 2017
Capital premium 9,085,391,183.30 9,085,391,183.30
Including: Capital contributed by investors 7,785,762,028.07 7,785,762,028.07
Differences derived from business combination
1,299,629,155.23 1,299,629,155.23
involving enterprises under common control
Other capital reserve 138,656,064.50 - (34,601,168.38) 104,054,896.12
Including: Transfer from capital reserve under the previous
138,656,064.50 - - 138,656,064.50
accounting system
Other changes in owners' equity of investees except
net profit or loss, other comprehensive income - - (34,601,168.38) (34,601,168.38)
and profit appropriation
Total 9,224,047,247.80 - (34,601,168.38) 9,189,446,079.42
155
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS – continued
22. Other comprehensive income
RMB
Amount incurred for the period
Less:
previously
recognized Amounts
31 December as other attributable to
Less:
Item Amount before comprehensive owners of 30 June 2018
2017 income tax
income tax income and the parent
expense
transferred to company
gain and loss (net of tax)
in the current
period
Other comprehensive income that
324,128,412.57 (121,226,522.41) 77,376,095.35 (49,650,654.44) (148,951,963.32) 175,176,449.25
will be reclassified into gain and loss
Including: Gains and losses arising from fair value changes on
321,987,010.74 (121,226,522.41) 77,376,095.35 (49,650,654.44) (148,951,963.32) 173,035,047.42
available-for-sale financial assets
Shares of other comprehensive income that will be
reclassified into gain and loss in the investee under 2,141,401.83 - - - - 2,141,401.83
equity method
Total 324,128,412.57 (121,226,522.41) 77,376,095.35 (49,650,654.44) (148,951,963.32) 175,176,449.25
23. Operating income and operating costs
(1) Operating income and operating costs
RMB
Period from 1 January 2018 to 30 June Period from 1 January 2017 to 30 June
Industry 2018 2017
Income Costs Income Costs
Principal business 140,451,336.58 18,213,798.99 115,948,040.50 14,713,938.82
Other business 1,984,154.09 - 997,683.42 571,428.60
Total 142,435,490.67 18,213,798.99 116,945,723.92 15,285,367.42
(2) Principal business(by industry)
RMB
Period from 1 January 2018 to 30 June Period from 1 January 2017 to 30 June
Industry 2018 2017
Operating income Operating costs Operating income Operating costs
Limited service hotel operation and
management
Including: Room 116,716,782.06 - 96,191,069.01 -
Catering 10,439,165.92 9,782,279.69 8,747,652.96 7,138,220.99
Supplies 7,392,904.72 7,164,222.98 6,966,564.88 6,617,634.72
Others 5,902,483.88 1,267,296.32 4,042,753.65 958,083.11
Total 140,451,336.58 18,213,798.99 115,948,040.50 14,713,938.82
(3) Top five clients contributed to the largest operating income
RMB
Proportion of
Operating the total operating
Name of client
income income
(%)
Rongge Catering (Shanghai) Co., Ltd. 1,341,146.28 0.94
Shanghai Yangpu Tang Palace Seafood Restaurant 938,289.30 0.66
Shanghai Jingyinghui Catering Co., Ltd 532,608.60 0.37
China Mobile Shanghai Branch 147,207.00 0.10
Shanghai Zhennan Engineering Consultants and Supervision Co.,Ltd. 114,285.72 0.08
Total 3,073,536.90 2.15
156
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS – continued
24. Costs and expenses categorized by nature
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Costs of goods 17,331,097.20 14,713,938.82
Employee benefits 55,199,831.66 66,199,193.74
Including: Wages or salaries, bonus, allowance, subsidies 38,879,946.68 51,460,403.47
Social insurance 9,368,798.94 9,039,957.72
Housing fund 2,342,504.00 2,245,964.00
Welfare 2,555,747.44 2,391,678.14
Other expenditure 2,052,834.60 1,061,190.41
Utilities and material consumption 13,028,995.09 9,759,193.53
Depreciation and amortization 24,131,422.77 22,041,949.47
Rental of operating lease 15,387,531.83 14,160,994.58
Repair and maintenance expense 1,636,510.98 1,572,950.17
Agency expense 5,706,059.16 8,061,669.10
Advertising expense 3,821,455.95 3,413,656.18
Others 28,003,783.52 24,822,703.77
Total of operating costs, selling expense and administrative expense 164,246,688.16 164,746,249.36
25. Financial expenses
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Interest expenses 164,325,688.60 200,037,584.35
Less: Interest income 67,923,517.62 110,022,324.63
Foreign exchange difference 5,081,043.67 10,019,349.47
Others 436,879.80 925,112.15
Total 101,920,094.45 100,959,721.34
26. Other income
RMB
Period from Period from
Related to assets
Item 1 January 2018 to 1 January 2017 to
/related to income
30 June 2018 30 June 2017
Financial support fund 11,861,000.00 - Related to income
Xincheng Hotel project support funds 330,550.00 342,650.00 Related to assets
Total 12,191,550.00 342,650.00
27. Investment income
(1) Details of investment income are as follow
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Income from long-term equity investment under equity method 64,223,485.48 52,153,017.11
Income from long-term equity investment under cost method 191,900,000.00 177,720,000.00
Investment income from available-for-sale financial assets 82,558,235.37 71,095,362.61
Investment income from disposal of available-for-sale financial assets 77,376,095.35 86,659,256.47
Others 4,079,309.40 5,353,705.03
Total 420,137,125.60 392,981,341.22
157
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
27. Investment income - continued
(2) Income(loss) from long-term equity investment under equity method
RMB
Period from Period from
Explanation to
Investee 1 January 2018 to 1 January 2017 to
the movements
30 June 2018 30 June 2017
Profits increased due to
Shanghai Kentucky Fried Chicken Co., Ltd. 62,980,270.33 56,616,425.56
the increase in operating income
Profits increased due to
Shanghai New Asia Fulihua Catering Co., Ltd. 3,877,060.36 3,699,099.74
the increase in operating income
Profits increased due to
Shanghai Xinlu Catering Development Co., Ltd. (73,567.00) 133,721.14
the decrease in operating income
Losses decreased due to
Qicheng Network (2,560,278.21) (8,296,229.33)
the increase in operating income
Total 64,223,485.48 52,153,017.11
(3) Income from long-term equity investment under cost method
RMB
Period from Period from
Explanation to
Investee 1 January 2018 to 1 January 2017 to
the movements
30 June 2018 30 June 2017
Profits increased due to
Jin Jiang Inn 150,000,000.00 130,000,000.00
the decrease in costs
Profits decreased due to
Louvre Asia 41,000,000.00 47,000,000.00
the increase in costs
Profits increased due to
Jin Jiang Food 900,000.00 720,000.00
the increase in operating income
Total 191,900,000.00 177,720,000.00
(4) Income from available-for-sale financial assets
RMB
Period from Period from
Explanation to
Investee 1 January 2018 to 1 January 2017 to
the movements
30 June 2018 30 June 2017
Hangzhou Kentucky Fried Chicken Co., Ltd. 45,927,333.18 38,964,078.50 Increase in dividends declared
Changjiang Securities 6,000,000.00 7,950,000.00 Decrease in numbers of shares hold
Suzhou Kentucky Fried Chicken Co., Ltd. 20,399,349.80 15,461,142.53 Increase in dividends declared
Wuxi Kentucky Fried Chicken Co., Ltd. 9,168,683.11 7,125,239.26 Increase in dividends declared
Shenwan Hongyuan Securities 748,478.20 1,496,956.40 Decrease in dividends declared
Others 314,391.08 97,945.92
Total 82,558,235.37 71,095,362.61
(5) Investment income from disposal of available-for-sale financial assets
RMB
Period from Period from
Name of available-for-sale financial assets 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Changjiang Securities(Stock code: 000783) 77,376,095.35 86,659,256.47
Note: The Company sold 13,000,000 shares of Changjiang Securities in total during the financial reporting
period.
158
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
28. Notes to items in the cash flow statements
(1) Other cash payments to investing activities
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Cash payments of intermediary expenses to equity acquisition projects 2,262,561.98 6,353,619.89
(2) Other cash receipts relating to financing activities
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Fixed time deposits interests income pledged for borrowings - 55,310,295.96
Recovery of fixed time deposits pledged for borrowings at maturity - 1,417,068,000.00
Total - 1,472,378,295.96
29. Supplementary information of cash flows
(1) Supplementary information of cash flows
RMB
Period from Period from
Supplementary information 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
1. Reconciliation of net profit to cash flow from operating activities:
Net profit 305,401,986.44 243,619,780.24
Add: Provision for asset impairment 994,469.11 36,320.87
Depreciation of fixed assets 8,572,016.30 7,879,467.43
Amortization of intangible assets 1,194,940.80 1,179,886.57
Amortization of long-term deferred expenses 14,364,465.67 12,982,595.47
Loss on disposal of fixed assets, intangible assets and
21,515.98 778.30
other long-term assets
Financial expenses 164,325,688.60 116,370,240.43
Investment loss (income) (420,137,125.60) (392,981,341.22)
Decrease (increase) in deferred tax assets 606,801.01 627,447.90
Decrease（increase）in inventory (7,843.50) (402,627.56)
Decrease (increase) in operating receivables 398,836,257.54 37,106,498.13
Increase (decrease) in operating payables 22,509,178.70 29,129,477.34
Net cash flows from operating activities 496,682,351.05 55,548,523.90
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:
Closing balance of cash 1,164,502,942.97 1,352,008,610.07
Less: Opening balance of cash 4,948,403,936.97 2,827,562,677.11
Add: Closing balance of cash equivalents - -
Less: Opening balance of cash equivalents - -
Net increase (decrease) in cash and cash equivalents (3,783,900,994.00) (1,475,554,067.04)
159
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
29. Supplementary information of cash flows - continued
(2) Composition of cash and cash equivalents
RMB
Item 30 June 2018 31 December 2017
I. Cash 1,164,502,942.97 4,948,403,936.97
Including: Cash on hand 253,465.44 442,827.96
Bank balances available for payments at any time 1,164,249,477.53 4,947,961,109.01
II. Cash equivalents - -
III. Closing balances of cash and cash equivalents 1,164,502,942.97 4,948,403,936.97
30. Related party relationships and transactions
(1) Basic and relevant information of the Company's subsidiaries and associate companies are set out in the Note VII
and basic and relevant information of the Company's other related parties are set out in the Note X.
(2) Purchases or sales of goods, rendering or receiving of services
Purchasing goods/Receiving services:
RMB
Period from Period from
Related parties Related transactions 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Jin Jiang Inn Co., Ltd.( Jin Jiang Inn) Purchasing goods 2,604,146.60 1,383,801.16
Shanghai Jin Jiang International Hotel Commodities Co., Ltd. Purchasing of hotel commodities 6,941.93 5,987.60
Subtotal 2,611,088.53 1,389,788.76
(3) Related lease
The Company as lessor:
RMB
Lease income Lease income
recognized f recognized for the
Lessee Categories of assets under lease or the period prior period
Jinya Catering Logistics center and Republic New Road stores 190,476.18 731,016.73
Minhang Hotel House renting 457,142.88 457,142.88
Subtotal 647,619.06 1,188,159.61
The Company as lessee:
RMB
Lease fee Lease fee
recognized for recognized for
Lessor Categories of assets under lease the period the prior period
Shanghai South Hua Ting Guest House Co., Ltd. (Note) Operating area 4,070,080.86 4,070,080.86
Shanghai MAGNOTEL Hotel Co., Ltd. (Note) Operating area 4,229,649.60 4,229,649.60
Jin Jiang International Office and operating area 1,596,411.48 1,317,062.85
Shanghai Jin Jiang International Investment Management Co., Ltd. Operating area 642,765.72 642,765.72
Shanghai East Jin Jiang Hotel Co., Ltd. Office area - 5,811.72
Shanghai Jin Jiang Property Management Co., Ltd. Office area 78,765.71 78,765.71
Subtotal 10,617,673.37 10,344,136.46
Note: Details of leases about the Company and Shanghai South Hua Ting Guest House Co., Ltd. and Shanghai
MAGNOTEL Hotel Co., Ltd. are set out in the Note X.5(3).
160
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
30. Related party relationships and transactions - continued
(4) Entrusted operation of related parties
Details of entrusted operation of the Company and Jin Jiang Hotel Group and Marvel Hotel Shanghai are set out
in the Note X.5 (3).
(5) Loans from and to other related parties
Amounts incurred during the financial reporting period and the balance as at 30 June 2018:
RMB
Related party Amount of Starting date Expiring date Remarks
borrowings/loans
Borrowed from:
Finance Company 10,000,000.00 27 December 2017 15 December 2018 Credit borrowing
Finance Company 10,000,000.00 27 December 2017 15 June 2019 Credit borrowing
Finance Company 10,000,000.00 27 December 2017 15 December 2019 Credit borrowing
Finance Company 10,000,000.00 27 December 2017 15 June 2020 Credit borrowing
Finance Company 60,000,000.00 27 December 2017 26 December 2020 Credit borrowing
Finance Company 5,000,000.00 5 January 2018 15 December 2018 Credit borrowing
Finance Company 10,000,000.00 5 January 2018 15 June 2019 Credit borrowing
Finance Company 10,000,000.00 5 January 2018 15 December 2019 Credit borrowing
Finance Company 10,000,000.00 5 January 2018 15 June 2020 Credit borrowing
Finance Company 360,000,000.00 5 January 2018 15 December 2020 Credit borrowing
Subtotal 495,000,000.00
RMB
Amount of
Related party Starting date Expiring date Remarks
borrowings/loans
Lent to:
Smarted 210,000,000.00 11 August 2016 10 August 2019 Entrusted loans
Subtotal 210,000,000.00
Interest expense and interest income arising from loans between the Company and related parties are set out as
below:
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Interest expense 11,688,620.40 13,030,499.99
Interest income 1,587,314.33 3,770,337.83
The Company has deposited part of the settlement funds or idle funds in the finance company and closing
balance and current transaction amount are presented as below:
RMB
Finance Company 30 June 2018 31 December 2017
Closing balance of deposits 624,220,295.49 160,033,477.59
161
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
30. Related party relationships and transactions - continued
(5) Loans from and to other related parties - continued
RMB
Period from Period from
Finance Company 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Accumulated deposits at Finance Company for the period 2,319,972,156.59 2,381,971,305.77
Accumulated deposits withdrawn from Finance Company for the period 1,855,785,338.69 2,381,758,146.83
(6) There was no assets transfer and debt restructure with related parties for this reporting period.
(7) The Company provides credit guarantee for long-term borrowings of RMB 1,160,000,000.00 of the
Company's subsidiary Kesystone during the financial reporting period.
(8) Receivables of related parties
i) Accounts receivable
RMB
Items Related parties 31 June 2018 31 December 2017
Carrying Bad debt Carrying Bad debt
amount provision amount provision
Receivables Jin Jiang International and its subsidiaries 3,375,034.96 - 4,477,005.50 -
Receivables Jin Jiang Hotels Group and its subsidiaries - - 11,950.00 -
Receivables Jinya Catering 799,999.90 - 601,400.17 -
Receivables New Asia Food - - 31,034.09 -
Subtotal 4,175,034.86 - 5,121,389.76 -
Other receivables Jin Jiang International and its subsidiaries 31,105.70 - - -
Other receivables Jin Jiang Hotels Group and its subsidiaries 13,427.11 - 13,427.11 -
Other receivables Jin Jiang Inn 10,356,048.64 - 4,585,402.93 -
Other receivables Hotels Investment 1,014,827.83 - 826,711.83 -
Other receivables Da Hua Hotel 42,060,509.29 - 47,960,509.29 -
Other receivables Minhang Hotel 20,215,458.58 - 25,226,432.78 -
Other receivables Jinpan Hotel - - 1,369,807.71 -
Other receivables Louvre Asia 9,209,355.82 - 9,478,748.77 -
Other receivables Catering Investment 29,088.33 - 29,088.33 -
Other receivables Jinya Catering 2,900,000.00 - 2,900,000.00 -
Other receivables New Asia Food 21,876.70 - 21,876.70 -
Other receivables Food and Beverage Serving Equipment 4,472,035.67 - 4,070,230.09 -
Other receivables Jin Lu investment 4,090,330.49 - 4,090,330.49 -
Subtotal 94,414,064.16 - 100,572,566.03 -
Interests receivable Smarted 214,669.00 - 290,280.84 -
Subtotal 214,669.00 - 290,280.84 -
Other non-current assets Smarted 210,000,000.00 - 250,000,000.00 -
Subtotal 210,000,000.00 - 250,000,000.00 -
Long-term receivables New Asia Food 10,328,000.00 - 10,328,000.00 -
Subtotal 10,328,000.00 - 10,328,000.00 -
162
SHANGHAI JIN JIANG INTERNATIONAL HOTELS DEVELOPMENT CO., LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2018 TO 30 JUNE 2018
XIV. NOTES TO KEY ITEMS IN THE COMPANY'S FINANCIAL STATEMENTS - continued
30. Related party relationships and transactions - continued
(8) Receivables of related parties - continued
ii) Accounts payable
RMB
30 June 31 December
Items Related parties
2018 2017
Payables Jin Jiang International and its subsidiaries 5,275,220.39 3,213,982.44
Payables Jin Jiang Hotels Group and its subsidiaries 9,989.07 16,369.07
Payables Jin Jiang Inn - 389,636.00
Subtotal 5,285,209.46 3,619,987.51
Other payables Jin Jiang International and its subsidiaries 1,631,164.79 1,269,747.13
Other payables Jin Jiang Hotels Group and its subsidiaries 2,662,143.93 2,297,737.13
Other payables Shanghai Jin Jiang International Hotels Commodities Co., Ltd. - 3,057.39
Other payables Shanghai Jin Jiang Tourism Co., Ltd. - 8,400.00
Other payables Marvel Hotels Shanghai 463,910.43 442,344.64
Other payables Shanghai MAGNOTEL Hotel Co., Ltd. 29,208.00 29,208.00
Other payables Jin Jiang Inn 76,434,422.53 45,146,926.33
Other payables Hotels Investment 6,953,144.15 6,008,112.62
Other payables Minhang Hotel 19,025.80 19,025.80
Other payables Da Hua Hotel 212,994.99 212,994.99
Other payables Louvre Asia 1,176,850.05 509,770.26
Other payables Food and Beverage Serving Equipment - 192,935.63
Subtotal 89,582,864.67 56,140,259.92
Interests payable Finance Company 555,159.00 112,153.33
Subtotal 555,159.00 112,153.33
***End of Financial Statements***
163
1.BREAKDOWN OF NON-RECURRING PROFIT OR LOSS FOR THE PERIOD
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
Gains (loss) on disposal of non-current assets 76,005,404.64 939,609.33
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 or determined under quantitative methods in 36,031,789.25 18,100,017.83
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, with 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 77,332,976.60 86,659,256.47
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
56,685,131.22 111,688,518.33
the requirements of tax laws and accounting laws and regulations
Custodian fees earned from entrusted operation - -
Other non-operating income or expenses other than the above items 10,777,647.83 2,314,022.83
Gains or losses on disposal of subsidiaries 9,095,353.40 33,507,766.71
Other profit or loss that meets the definition of non-incurring profit or loss - -
Tax effects (53,694,307.43) (37,613,303.06)
Effects attributable to non-controlling interests (after tax) (24,412,323.92) (2,604,202.08)
Total 187,821,671.59 212,991,686.36
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 are 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 special and incidental nature.
164
2.RETURN ON NET ASSETS AND EARNINGS PER SHARE ("EPS")
The return rate on net assets and EPS have been prepared by Shanghai Jin Jiang 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 Weighted Earnings per share
average
return rate average net Diluted EPS
Profit for the reporting period Basic EPS
on net assets assets (Note)
(%) (RMB)
Net profit attributable to ordinary equity holders of the Company 4.03 12,481,330,765.83 0.5255 N/A
Net profit attributable to ordinary equity holders of the Company after
2.53 12,481,330,765.83 0.3294 N/A
deducting non-recurring profit and loss
Note: The Company has no diluted potential ordinary shares.
165
3. SUMMARIZED ACCOUNTING REPORT AND ROOM OPERATION REPORT OF BUSINESS
SEGMENTS OF LIMITED-SERVICE HOTELS
In order to help the report users to read and compare the changes in assets and liabilities as at 30 June 2018 and 31
December 2017, and the results of operations, cash flows and room operation data for the period from 1 January 2018 to
30 June 2018 and the period from 1 January 2017 to 30 June 2017 of the business segments of limited-service hotels of
the Company, the Company prepared the accompanying summarized accounting report and room operation report of
business segments of the limited-service hotels, in which the transactions and transaction balances between the business
segments of limited-service hotels and other business segments within the Company were not offset. This accounting
report and room operation report is for report users' reference only.
Summarized balance sheet of business segments of limited-service hotels
RMB
Item 30 June 2018 31 December 2017 Item 30 June 2018 31 December 2017
Current assets: Current Liabilities:
Cash and bank balances 5,403,045,383.63 4,977,628,403.46 Short-term borrowings 14,935,102.87 5,333,514.18
Derivative financial assets - Derivative financial liabilities 3,564,106.96 4,391,173.45
Notes receivable and Accounts
1,046,880,759.91 941,518,719.45 Notes payable and Accounts payable 1,974,577,292.09 2,082,677,261.23
receivable
Advances to suppliers 293,361,355.13 326,466,412.54 Advances from customers 940,749,227.83 866,670,626.45
Other receivables 530,113,163.21 552,433,615.04 Employee benefits payable 870,227,177.93 899,988,231.51
Inventories 77,914,803.00 71,154,202.07 Taxes payable 404,888,688.30 398,843,082.67
Held-for-sale assets - 9,194,045.82 Other payables 1,642,631,275.10 1,399,110,211.21
Other current assets 345,624,325.57 269,555,418.68 Non-current liabilities due within one year 280,431,418.95 48,245,433.89
Total Current Assets 7,696,939,790.45 7,147,950,817.06 Total Current Liabilities 6,132,004,290.03 5,705,259,534.59
Non-current Assets: Non-current Liabilities
Available-for-sale financial assets 766,668,954.48 575,026,046.69 Long-term borrowings 10,960,022,893.81 11,476,266,220.93
Long-term equity investments 112,597,232.15 119,150,426.68 Long-term payables 265,824,599.39 255,256,905.93
Fixed assets 6,475,886,931.87 6,704,916,504.23 Long-term employee benefits payable 64,870,080.23 59,112,683.77
Construction in progress 715,603,431.97 679,151,417.17 Provisions 56,301,477.80 58,598,004.21
Intangible assets 7,325,995,164.19 7,462,154,720.62 Deferred tax liabilities 2,246,339,549.57 2,335,777,084.57
Goodwill 11,301,268,832.00 11,348,072,548.12 Other non-current liabilities 149,356,334.47 201,184,640.33
Long-term prepaid expenses 2,556,736,235.41 2,693,801,981.00 Total Non-current Liabilities 13,742,714,935.27 14,386,195,539.74
Deferred tax assets 594,109,098.41 615,109,920.55 TOTAL LIABILITIES 19,874,719,225.30 20,091,455,074.33
Other non-current assets 89,732,567.30 90,227,114.10 SHAREHOLDERS' EQUITY:
Share capital 3,166,586,811.68 3,166,586,811.68
Capital reserve 4,011,763,808.50 4,011,763,808.50
Other comprehensive income (232,519,614.68) (344,337,782.14)
Surplus reserve 144,308,472.30 144,308,472.30
Retained profits 4,067,026,131.18 3,866,206,607.46
Funds appropriated by the parent company 5,902,008,576.65 5,872,157,887.91
Total owners’ equity attributable to
the equity holders of the business 17,059,174,185.63 16,716,685,805.71
segments of limited-service hotels
Non-controlling interests 701,644,827.30 627,420,616.18
Total Non-current Assets 29,938,598,447.78 30,287,610,679.16 TOTAL SHAREHOLDERS' EQUITY 17,760,819,012.93 17,344,106,421.89
TOTAL LIABILITIES AND
TOTAL ASSETS 37,635,538,238.23 37,435,561,496.22 37,635,538,238.23 37,435,561,496.22
SHAREHOLDERS' EQUITY
166
3. SUMMARIZED ACCOUNTING REPORT AND ROOM OPERATION REPORT OF BUSINESS
SEGMENTS OF LIMITED-SERVICE HOTELS - continued
Summarized income statement of business segments of limited-service hotels
RMB
Period from Period from
Item 1 January 2018 1 January to 2017
to 30 June 2018 30 June 2017
I. Gross revenue
Self-owned and leased hotels 4,331,934,606.21 4,264,641,576.65
Franchised and managed hotels 2,461,101,028.13 1,863,148,153.53
Others 32,684,145.61 36,676,996.49
Total operating income 6,825,719,779.95 6,164,466,726.67
Less: Taxes and levies 110,933,692.13 106,316,874.41
Net revenue 6,714,786,087.82 6,058,149,852.26
Operating costs and expenses:
Costs of self-owned and leased hotels
Rent 933,334,424.45 910,716,713.20
Energies 332,665,958.71 299,107,063.39
Labor cost 1,505,766,147.51 1,399,775,323.83
Other Franchised and managed hotels’ cost 450,754,294.63 298,145,224.93
Depreciation & Amortization 598,092,538.44 706,369,662.61
Consumables. Food and beverage 323,230,587.07 326,248,635.36
Others 559,557,239.32 750,742,190.91
Total operating costs of hotels 4,703,401,190.13 4,691,104,814.23
Sales and marketing expenses 430,726,171.09 332,647,475.09
General and administrative expenses 992,471,058.48 586,816,449.64
Organization costs 3,052,661.15 7,380,847.51
Total operating costs and expenses 6,129,651,080.85 5,617,949,586.47
II. Profit from operations 585,135,006.97 440,200,265.79
Investment income 12,170,957.37 51,929,498.59
Interest income 29,682,073.46 10,269,901.35
Interest expenses 98,886,713.23 110,451,181.55
Other non-operating income 131,398,815.79 37,794,035.15
Other non-operating expenses 33,056,371.88 26,599,200.48
Exchange gains (losses) (1,756,748.97) (6,258,956.31)
III. Total profit 624,687,019.51 396,884,362.54
Income tax expenses 162,656,765.35 17,367,822.62
IV. Net profit 462,030,254.16 379,516,539.92
Less: Non-controlling interests 69,632,807.75 38,704,240.75
Net profit attributable to business segments of limited-service hotels 392,397,446.41 340,812,299.17
V. Other comprehensive income (loss), net of tax 117,558,808.62 61,033,922.83
Other comprehensive income (loss) attributable to owners of the parent company, net of tax 111,818,167.46 51,375,435.01
(I) Other comprehensive income (loss) that will be reclassified subsequently to profit or loss 111,818,167.46 51,375,435.01
1. Shares of other comprehensive income in investee that will be reclassified subsequently to
126,458.24 186,422.60
profit or loss under equity method
2. Profit or loss arising from changes in fair value of available-for-sale financial assets 152,136,787.32 -
3. Effective portion of profit or loss of cash flow hedging 459,580.04 829,597.00
4. Translation differences of financial statements denominated in foreign currency (40,904,658.14) 50,359,415.41
Other comprehensive income (loss) attributable to minority shareholders, net of tax 5,740,641.16 9,658,487.82
VI. Total comprehensive income (loss) 579,589,062.78 440,550,462.75
Comprehensive income (loss) attributable to owners of the parent company 504,215,613.87 392,187,734.18
Total comprehensive income (loss) attributable to minority shareholders 75,373,448.91 48,362,728.57
167
3. SUMMARIZED ACCOUNTING REPORT AND ROOM OPERATION REPORT OF BUSINESS
SEGMENTS OF LIMITED-SERVICE HOTELS - continued
Summarized cash flow statement of business segments of limited-service hotels
RMB
Period from Period from
Item 1 January 2018 to 1 January 2017 to
30 June 2018 30 June 2017
I. Cash flows from operating activities:
Cash receipts from the sale of goods and the rendering of services 7,208,614,495.98 6,310,052,342.85
Receipts of taxes refund - 4,473,060.00
Other cash receipts relating to operating activities 162,148,779.16 142,436,051.50
Sub-total of cash inflows from operating activities 7,370,763,275.14 6,456,961,454.35
Cash payments for goods purchased and services received 2,113,937,535.74 1,345,924,096.37
Cash payments to and on behalf of employees 2,216,937,035.62 1,891,377,202.95
Payments of taxes 517,578,053.18 422,627,680.43
Other cash payment relating to operating activities 1,495,879,766.25 1,434,535,861.36
Sub-total of cash outflows from operating activities 6,344,332,390.79 5,094,464,841.11
Net cash flow from operating activities 1,026,430,884.35 1,362,496,613.24
II. Cash flows from investing activities:
Cash receipts from disposal and recovery of investments 3,750,981.70 61,993,884.56
Cash receipts from returns on investments 131,917.67 2,699,406.95
Net cash receipts from disposal of fixed assets, intangible assets and other long-term assets 21,918,248.03 10,391,618.59
Net cash receipts from disposals of subsidiaries and other business units - 725,901.20
Other cash receipts relating to investing activities - 45,000,000.00
Sub-total of cash inflows from investing activities 25,801,147.40 120,810,811.30
Net cash payments to acquisition of subsidiaries and other business units 12,696,646.76 243,782,874.09
Net cash payments for disposal of subsidiaries and other business units 689,279.31
Cash payments to acquire or construct fixed assets, intangible assets and
407,427,845.20 477,916,946.72
other long-term assets
Cash payments to acquire investments 1,150,002.00
Other cash payments relating to investing activities
Sub-total of cash outflows from investing activities 420,124,491.96 723,539,102.12
Net cash flow from investing activities (394,323,344.56) (602,728,290.82)
III. Cash flows from financing activities:
Cash receipts from capital contributions -
Including: Cash receipts from capital contribution from
-
minority shareholders of subsidiaries
Cash receipts from borrowings 9,729,371.16 4,663,431,860.49
Cash receipts relating to other financing activities 41,442,115.09 40,146,122.08
Sub-total of cash inflows from financing activities 51,171,486.25 4,703,577,982.57
Cash repayments of borrowings 82,304,260.20 4,977,456,566.03
Cash payments for interest expenses and distribution of dividends or
136,665,279.15 143,246,630.61
profits or settlement of interest expenses
Including: Cash payments to minority shareholders for distribution of dividends or profits 1,123,258.62 1,425,231.93
Other cash payments relating to financing activities 22,263,804.61 61,533,494.72
Sub-total of cash outflows from financing activities 241,233,343.96 5,182,236,691.36
Net cash flow from financing activities (190,061,857.71) (478,658,708.79)
IV. Effect of foreign exchange rate changes on cash and cash equivalents (13,555,355.97) 50,489,914.91
V. Net increase (decrease) in cash and cash equivalents 428,490,326.11 331,599,528.54
Add: Opening balance of cash and cash equivalents 4,974,555,057.52 3,564,047,289.77
VI. Closing balance of cash and cash equivalents 5,403,045,383.63 3,895,646,818.31
168
3. SUMMARIZED ACCOUNTING REPORT AND ROOM OPERATION REPORT OF BUSINESS
SEGMENTS OF LIMITED-SERVICE HOTELS - continued
Income statement before interest, tax, depreciation and amortization of business segments of limited-service
hotels
RMB
Period from Period from
Item 1 January 2018 1 January 2017 to
to 30 June 2018 30 June 2017
Net profit attributable to business segments of limited-service hotels 392,397,446.41 340,812,299.17
Interest income 29,682,073.46 10,269,901.35
Interest expenses 98,886,713.23 110,451,181.55
Income tax expenses 162,656,765.35 17,367,822.62
Depreciation 304,877,876.00 363,075,486.52
Amortization 381,851,955.11 402,802,360.19
Earnings before interest, tax, depreciation and amortization(EBITDA) 1,310,988,682.64 1,224,239,248.70
Proportion of EBITDA in operating income (%) 19.21 19.86
Exchange gains (losses) 1,756,748.97 (6,258,956.31)
Organization costs 3,052,661.15 7,380,847.51
EBITDA after adjustment 1,315,798,092.75 1,237,879,052.52
Proportion of EBITDA after adjustment in operating income (%) 19.28 20.08
Expenses statement of business segments of limited-service hotels
RMB
Period from 1 January 2018 to 30 June 2018 Period from 1 January 2017 to 30 June 2017
Item Amount Proportion in Amount Proportion in
operating income operating income
(%) (%)
Operating income 6,825,719,779.95 100.00 6,164,466,726.67 100.00
Operating costs of hotels 4,703,401,190.13 68.91 4,691,104,814.23 76.10
Sales and marketing expenses 430,726,171.09 6.31 332,647,475.09 5.40
General and administrative expenses 992,471,058.48 14.54 586,816,449.64 9.52
Organization costs 3,052,661.15 0.04 7,380,847.51 0.12
Total operating costs and expenses 6,129,651,080.85 89.80 5,617,949,586.47 91.13
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3. SUMMARIZED ACCOUNTING REPORT AND ROOM OPERATION REPORT OF BUSINESS
SEGMENTS OF LIMITED-SERVICE HOTELS - continued
Room operation report of domestic and overseas middle-end hotels and economy hotels by brands (first half year)
Number of hotels newly Number of hotels
Brand
opened in the first half of 2018 as at 30 June 2018
1. Middle-end hotels 321 1,985
Including: Jin Jiang Metropolo 9 71
Lavande 62 339
James Joyce Coffetel 25 118
Xana Hotelle 16 103
Vienna International 51 134
Vienna Classic Hotel 8 165
Vienna Hotels 104 531
Vienna 3 Goods 29 109
Golden Tulip series -17 293
Others 34 122
2. Economy hotels 20 5,050
Including: Jin Jiang Inn 19 1,094
7 Days series -55 2,413
IU 20 189
Pai 29 281
Première Classe 1 268
Campanile 4 384
Kyriad series 2 263
Sarovar managed -2 75
Others 2 83
Total 341 7,035
170
3. SUMMARIZED ACCOUNTING REPORT AND ROOM OPERATION REPORT OF BUSINESS
SEGMENTS OF LIMITED-SERVICE HOTELS - continued
Room operation report of domestic limited-service hotels (first half year)
As at 30 June 2017 As at 31 March 2018 As at 30 June 2018
Number of opened hotels
Self-owned and leased hotels 791 759 739
Franchised and managed hotels 4,227 4,812 5,007
All opened hotels 5,018 5,571 5,746
Total number of rooms of opened
hotels
Self-owned and leased hotels 99,087 96,003 94,245
Franchised and managed hotels 403,570 464,259 485,080
All opened hotels 502,657 560,262 579,325
Total number of signed hotels
Self-owned and leased hotels 840 779 760
Franchised and managed hotels 6,392 7,499 8,002
All signed hotels 7,232 8,278 8,762
Total number of rooms of signed hotels
Self-owned and leased hotels 106,546 99,402 97,520
Franchised and managed hotels 628,346 748,422 805,953
All signed hotels 734,892 847,824 903,473
Second quarter of 2017 First quarter of 2018 Second quarter of 2018
Occupancy rate of rooms (%)
Self-owned and leased hotels 82.87 73.69 79.11
Franchised and managed hotels 82.83 75.05 79.67
All opened hotels 82.84 74.79 79.58
Average room rate (RMB/room)
Self-owned and leased hotels 187.00 189.90 204.13
Franchised and managed hotels 179.94 190.09 199.87
All opened hotels 181.40 190.06 200.59
Revenue from each available room
(RMB/room)
Self-owned and leased hotels 154.97 139.94 161.49
Franchised and managed hotels 149.04 142.66 159.24
All opened hotels 150.27 142.15 159.63
171
3. SUMMARIZED ACCOUNTING REPORT AND ROOM OPERATION REPORT OF BUSINESS
SEGMENTS OF LIMITED-SERVICE HOTELS - continued
RevPAR of major domestic hotel brands from January to June 2018 and comparison with the same period of last year
Average room rate Average occupancy rate RevPAR
(RMB/room) （%） (RMB/room)
Domestic brands Increase or
January to January to January to January to January to January to decrease
June 2018 June 2017 June 2018 June 2017 June 2018 June 2017 year-on-year
(%)
Middle-end hotels 259.95 245.97 80.78 83.68 209.99 205.83 2.02
Including: Jin Jiang Metropolo 319.62 318.48 66.69 67.50 213.15 214.97 -0.85
Lavande 268.44 259.30 79.98 80.94 214.70 209.88 2.30
James Joyce Coffetel 259.58 226.05 78.31 72.19 203.28 163.19 24.57
Xana Hotelle 244.63 236.55 80.29 78.45 196.41 185.57 5.84
Vienna International 322.64 316.73 90.39 99.88 291.63 316.35 -7.81
Vienna Classic Hotel 235.11 218.21 82.97 86.74 195.07 189.28 3.06
Vienna Hotels 241.10 223.56 83.33 84.83 200.91 189.65 5.94
Vienna 3 Goods 213.02 207.29 81.23 87.43 173.04 181.23 -4.52
Economy hotels 158.87 152.92 75.36 78.07 119.72 119.38 0.28
Including: Jin Jiang Inn 184.93 180.50 76.57 76.54 141.60 138.15 2.49
7 Days series 143.64 138.31 74.92 79.22 107.62 109.57 -1.78
IU 170.18 162.81 80.22 83.71 136.52 136.29 0.17
Pai 133.45 130.21 69.80 74.00 93.15 96.36 -3.33
Average 195.62 177.71 77.24 79.49 151.10 141.26 6.97
RevPAR of domestic hotels opened for more than 18 months as at 30 June 2018 and comparison with the same period of
last year
Number of hotels opened
for more than 18 months
Middle-end hotels 745
Including: Direct hotels 74
Franchised hotels 671
Economy hotels 3,468
Including: Direct hotels 642
Franchised hotels 2,826
Total 4,213
172
3. SUMMARIZED ACCOUNTING REPORT AND ROOM OPERATION REPORT OF BUSINESS
SEGMENTS OF LIMITED-SERVICE HOTELS - continued
RevPAR of domestic hotels opened for more than 18 months as at 30 June 2018 and comparison with the same period of
last year - continued
Number of hotels opened for more than 18 months Increase or decrease
January to June 2018 January to June 2017 year-on-year (%)
Middle-end hotels
Average occupancy rate (%) 84.90 85.97 -1.07
Including: Direct hotels 86.18 88.33 -2.15
Franchised hotels 84.68 85.53 -0.85
Average room rate (RMB/room) 269.44 249.81 7.86
Including: Direct hotels 303.71 282.26 7.60
Franchised hotels 263.20 243.65 8.02
RevPAR (RMB/room) 228.76 214.76 6.52
Including: Direct hotels 261.74 249.32 4.98
Franchised hotels 222.88 208.39 6.95
Economy hotels
Average occupancy rate (%) 76.77 79.05 -2.28
Including: Direct hotels 75.34 77.00 -1.66
Franchised hotels 77.21 79.68 -2.47
Average room rate (RMB/room) 159.66 153.29 4.16
Including: Direct hotels 168.00 160.42 4.73
Franchised hotels 157.14 151.18 3.94
RevPAR (RMB/room) 122.57 121.18 1.15
Including: Direct hotels 126.57 123.52 2.47
Franchised hotels 121.33 120.46 0.72
Total
Average occupancy rate (%) 78.76 80.71 -1.95
Including: Direct hotels 77.21 78.96 -1.75
Franchised hotels 79.19 81.19 -2.00
Average room rate (RMB/room) 188.60 177.99 5.96
Including: Direct hotels 194.08 184.01 5.47
Franchised hotels 187.13 176.38 6.09
RevPAR (RMB/room) 148.54 143.66 3.40
Including: Direct hotels 149.85 145.29 3.14
Franchised hotels 148.19 143.20 3.48
173
3. SUMMARIZED ACCOUNTING REPORT AND ROOM OPERATION REPORT OF BUSINESS
SEGMENTS OF LIMITED-SERVICE HOTELS - continued
Room operation report of overseas limited-services hotels (first half year)
As at 30 June 2017 As at 31 March 2018 As at 30 June 2018
Number of opened hotels
Self-owned and leased hotels 286 286 286
Franchised and managed hotels 993 1,001 1,003
All opened hotels 1,279 1,287 1,289
Total number of rooms of opened hotels
Self-owned and leased hotels 21,835 21,876 22,014
Franchised and managed hotels 84,595 85,737 85,403
All opened hotels 106,430 107,613 107,417
Total number of signed hotels
Self-owned and leased hotels 292 295 295
Franchised and managed hotels 1,078 1,109 1,105
All signed hotels 1,370 1,404 1,400
Total number of rooms of signed hotels
Self-owned and leased hotels 22,712 23,226 23,226
Franchised and managed hotels 92,653 97,345 96,489
All signed hotels 115,365 120,571 119,715
Second quarter of 2017 First quarter of 2018 Second quarter of 2018
Occupancy rate of rooms (%)
Self-owned and leased hotels 73.72 65.13 75.14
Franchised and managed hotels 64.70 57.58 64.28
All opened hotels 66.01 59.32 66.74
Average room rate (Euro/room)
Self-owned and leased hotels 54.76 51.92 56.82
Franchised and managed hotels 61.30 55.08 56.30
All opened hotels 57.56 54.28 56.43
Revenue from available rooms
(Euro/room)
Self-owned and leased hotels 40.37 33.82 42.69
Franchised and managed hotels 39.66 31.72 36.19
All opened hotels 38.00 32.20 37.66
174