黄石东贝电器股份有限公司 2014 年半年度报告
Huangshi Dongbei Electrical Appliance Co.,
Ltd.
900956
The Semi-Annual Report 2014
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黄石东贝电器股份有限公司 2014 年半年度报告
Important Notes
1.The Board of Directors ，Supervisory Committee，directors , supervisors and Senior Executives
of the Company hereby guarantees that there are no misstatement, misleading representation or
important omissions in this report and shall assume joint and several liability for the authenticity,
accuracy and completeness of the contents hereof.
2．The situation of the director who failed to attend
Position of the director Name of the director Reason for failure to
Name of proxy
who failed to attend who failed to attend attend
Director Ruan Zhengya Business trip Zhao Dayou
3. The financial report of the semi-annual report has not been audited.
4. Mr.Yang Baichang, The Company leader, Ms. Lu Lihua, Chief financial officer, Ms. Ma Li, the
person in charge of the accounting department (the person in charge of the accounting )hereby
confirm the authenticity and completeness of the financial report enclosed in this semi-annual
report.
5. Whether the controlling shareholder and its related parties did not occupy the funds of the
Company for operation.
No.
6. Whether the Company did not provide guarantee in violation of specified decision-making
procedure.
No.
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黄石东贝电器股份有限公司 2014 年半年度报告
Table of Contents
I..Definition
II.Company profile
III. Summary of Accounting Data and Financial indexes
IV. Report of the Board of Directors
V. Important Events
VI. Particulars about Changes in Share Capital and Shareholders
VII. Situation of the Preferred Shares
VIII.Particulars about Directors, Supervisors and Senior Executives
IX. Financial Report (Unaudited)
X.. List of Documents Available for Inspection
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黄石东贝电器股份有限公司 2014 年半年度报告
I.Definition
1. Definition
In this report, medium, the following words and expressions shall have the following meaning
unless otherwise defined:
Definition of frequently mentioned words and expressions
Company, The Company, We, Dongbei Huangshi Dongbei Electrical Appliance
Refers to
Electrical Appliance Co., Ltd.
Huangshi Dongbei Electromechanical
Dongbei Group, Controlling shareholder Refers to
Group Co., Ltd
Report period Refers to January 1, 2014 to June 30, 2014
CSRC Refers to China Securities Regulatory Commission
The Securities Law of the People’s
The Securities Law Refers to
Republic of China
The Company Law of the People’s
The Company Law Refers to
Republic of China
The Articles of association of Huangshi
Articles, The Articles of association Refers to
Dongbei Electrical Appliance Co., Ltd.
RMB Yuan , RMB million Yuan,RMB
Yuan, Million Yuan, Billion Yuan Refers to
Billion Yuan
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黄石东贝电器股份有限公司 2014 年半年度报告
II.Company profile
1. Basic Information of the Company
Chinese name of the Company 黄石东贝电器股份有限公司
Abbr. of the Chinese name of the Company 东贝 B 股
HUANGSHI DONGBEI ELECTRICAL
English name of the Company
APPLIANCE CO., LTD.
Legal representative of the Company Yang Baichang
2. Contact person and contact manner
Board secretary Securities affairs Representative
Name Lu Lihua Huang Jie
No.6, Jinshan East Road, No.6, Jinshan East Road,
Economic & Technology Economic & Technology
Contact address
Development Zone, Huangshi Development Zone, Huangshi
City, Hubei Province. City, Hubei Province.
Tel 0714-5415858 0714-5415858
Fax 0714-5415858 0714-5415858
E-mail stock@donper.com stock@donper.com
3. Registration changes of the Company
No.6, Jinshan East Road, Economic & Technology
Registered Address:
Development Zone, Huangshi City, Hubei Province.
Postal code of Registered address 435000
No.6, Jinshan East Road, Economic & Technology
Business Address
Development Zone, Huangshi City, Hubei Province.
Postal code of Business address 435000
Website： http://www.donper.com
E-mail stock@donper.com
4.The Place for Placing the Annual Report and the Information Disclosure
Shanghai Securities Daily and Hong Kong
Newspapers for Information Disclosure
Commercial Daily
Internet Website for Publishing the Semi-Annual
www.sse.com.cn
Report
The Place for Placing the Annual Report Securities Dept. of the Company
5.Stock Profile
Stock Condition of the Company
Stock exchange for
Type Stock Abbreviation Stock Code
listing
Shanghai Stock
B share Dongbei B 900956
Exchange
6. The change of the registration in the report period
The registration remained in the report period
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黄石东贝电器股份有限公司 2014 年半年度报告
III. Summary of Accounting Data and Financial index
I. Main accounting data and financial index
（1） Main accounting data
In RMB
Main accounting data Current period(Jan Same period of las Increase/decrease i
uary-June_ t year n this report Y-O-
Y(%)
Operating Gross income 2,269,550,201.85 2,390,456,912.38 -5.06
Net profit attributable to the
24,962,203.45 24,062,624.84 3.74
shareholders of the listed company
Net profit after deducting of
non-recurring gain/loss attributable to 18,769,506.01 20,180,843.08 -6.99
the shareholders of listed company
Cash flow generated by business
172,652,495.68 -86,111,550.61 Not Applicable
operation, net
End of current per End of last period Increase/decrease i
iod n this report –end
over that of last
period-end (%)
Net Assets attributable to the
shareholders of the listed company 922,236,179.79 897,432,610.64 2.76
Gross assets
Gross assets 4,069,783,788.04 3,851,675,304.29 5.66
（2） Main Financial Index
Main Financial index Current period(Jan Same period of las Increase/decrease i
uary-June_ t year n this report Y-O-
Y(%)
Basic earnings per share(RMB/Share) 0.106 0.102 3.74
Diluted gains per share(RMB/Share) 0.106 0.102 3.74
Basic earning per share after
deducting of non-recurring 0.080 0.086 -6.99
gains/losses(RMB/Share)
Weighted average net asset earnings
2.74 2.95 Decreased by 0.21%
ratio（%）
Net income on asset, weighted and
2.06 2.47 Decreased by 0.41%
deducted non-recurring gain/loss (%)
II.Items and amount of non-operating gains and losses:
In RMB
Items of non-operating gains and losses Amount
Gain/loss from disposal of non-current assets. -116,656.42
Governmental Subsidy accounted as current gain/loss, except for
those subsidies at with amount or quantity fixed by the national
10,791,270.00
government and closely related to the Company‘s business
operation.
Other non-business income and expenditures other than the
797,610.14
above
Influenced amount of minor shareholders‘ equity -3,558,692.73
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黄石东贝电器股份有限公司 2014 年半年度报告
Influenced amount of income tax -1,720,833.55
Total 6,192,697.44
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黄石东贝电器股份有限公司 2014 年半年度报告
IV. Report of the Board of Directors
1. Discussion and analysis of the Company's operation in the report period by the board of directors
The first half of 2014, the domestic economic slowdown, along with appliances to the countryside, en
ergy subsidies and other incentives consumer policy ended, the company failed to extend downstream
refrigerator industry rapid growth in 2013, and fell into a downturn. During the reporting period, the c
ompressor industry has week demand and fierce market competition, the compressor industry market s
ituation is grim.
Faced with pressures and difficulties of economic downturn, the company's business objectives around
the Board of Trustees, firmly grasp the leading marketing, pay closely attention to domestic and inter
national market trends, according to changes in market demand, timely adjustment of marketing strate
gy, and actively participate in market competition ; seize the momentum of technological innovation,
and continuously improve core competitiveness, completed a small, efficient, large-sized product deve
lopment, as well as the matching inverter compressor and volume production; seize this focus to impr
ove the quality, speed promoting strong corporate boutique building; seize the main efficiency savings
, companies continue to activate intrinsic motivation, and enhance overall competitiveness.
During the reporting period, the company produced 11.60 million compressor station; sold compressor
s 12.07 million units; achieved operating income of 2.269 billion yuan, completed 54% of the annual t
arget; achieve net profit attributable to equity holders of 24.96 million yuan, compared with last year g
rowth of 3.74% over the same period.
(1) Analysis on principal Business
1. Sheet of change analysis of relevant items of Financial statement
In RMB
Amount in this Amount in last
Subject Proportion（%）
period period
Operating income 2,269,550,201.85 2,390,456,912.38 -5.06
Operating cost 2,026,592,510.22 2,143,762,531.87 -5.47
Sales expenses 56,321,177.74 56,012,811.31 0.55
Administrative expenses 109,089,449.94 98,710,434.27 10.51
Financial expenses 28,477,173.91 38,280,044.61 -25.61
Cash flow generated by operation
172,652,495.68 -86,111,550.61
activities, net
Net cash flow generated by investment
-68,782,370.21 -53,421,126.56
activities
Net cash flow generated by financing
46,371,945.58 223,552,055.59 -79.26
activities
Operating income decreased 5.06% over the previous year, mainlydue to changes in product
miniaturization and aluminum leads to lower prices per unit of product
Operating costs were reduced 5.47% over the previous year, mainly due to lower material costs.
Administrative expenses increased by 10.51% over the previous year, mainly due to changes in labor
costs due to increased R & D expenses.
Financial expenses decreased by 25.51% over the previous year, mainly due to accelerate cash flow to
improve capital efficiency, as well as foreign currency exchange gains and losses due to decline year
over year.
The increase in net cash flow from operating activities was mainly due to the purchase of goods,
services paid for accepting cash reduction.
Net changes in cash flow from investing activities was mainly due to the payment of investment funds
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黄石东贝电器股份有限公司 2014 年半年度报告
increased during the reporting period
Net changes in cash flow from financing activities were mainly due to lower material costs and
changes in payment policies, resulting in reduced liquidity requirements.
(2)The Status of key business in terms of industry of business, production and Area
1.The Status of key business in terms of industry of business and production
In RMB
The Status of key business in terms of industry of business
Increase/de
Increase/de
crease of
crease of Change of
On Income from key Cost of key Gross key
key Gross
industry business business profit（％） business
business profit（%）
turnover
cost（％）
（％）
Manufactu Increased
2,103,244,040.13 1,869,005,723.14 11.14 -10.15 -11.01
ring 0.86%
The Status of key business in terms of production of business
Increase/de
Increase/de
crease of
crease of Change of
On Income from key Cost of key Gross key
key Gross
production business business profit（％） business
business profit（%）
turnover
cost（％）
（％）
Compresso Increased
1,869,221,845.53 1,666,757,247.17 10.83 -13.21 -13.48
rs by0.27%
Auto
casting and Increased
217,986,808.27 191, 071,508.18 12.35 26.39 17.18
Compresso by 6.89%
rs casting
Solar water Increased
16,035,386.33 11,176,967.79 30.30 8.68 2.88
heater by 3.93%
2.Table of the status of main operation in terms of Area
In RMB
Increase or decrease of rate of profit from
Area Income from operation
operation over the previous year（％）
Domestic sales 1,626,870,026.71 -10.45
Foreign sales 476,374,013.42 -9.11
(3)Core competitive-ness analsis
The Company has core competitiveness in respect of ability of continuous innovation and product
R&D, diversified production capacity, cohesive force of team, ability of quick response and custom
services and ability of comprehensive market development, which helps the Company achieve the
enterprise mission of providing first-rate compressors to refrigerator and ice box manufacturers in the
world.
I. R&D ability and technology
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黄石东贝电器股份有限公司 2014 年半年度报告
The Company owns strong R&D ability and advanced R&D platform in China. Compressor
technology center is a technical center of enterprise certified by the state. The Company established a
R&D center in Europe and a postdoctoral workstation. The Company boasts technologies of
high/medium/low- backpressure efficient compressors that can meet requirements of different working
mediums.
II. Advanced production line
The Company owns internationally advanced compressor production lines and can produce 12 series
and over 200 kinds of products with working mediums including R600a, R134a, R22, R404a and
R290, being an enterprise with the most varieties, most complete specifications and the biggest power
spans of products in compressor industry at present. The Company is a leading compressor supplier
for many famous refrigerator manufacturing enterprises at home and abroad, whose products are
exported to over 20 countries and regions.
III.Corporate Culture
Adhering to the "create wealth for the community, so that employees live and work," the core values,
combined with company policy, using a variety of publicity through the workers' congress, seminars a
nd other special communication platform to communicate with employees, through the implementatio
n of the "six systems" , "three major projects," "two funds" and other staff care programs, create an ent
erprise culture with the East Beit color, enhance cohesion.
IV. Efficient management
The company continued to carry out excellent performance management, implementation of lean pro
duction, around the "Focus Action" continues to improve staff's enthusiasm and creativity, strengthen
coordination and communication speed of the various departments, improve the company's ability to r
espond to internal and external environments.
V.Market expansion
The refrigerant compressor of changes in market demand, production and sales, to carry out pre-sale, s
ale and full service on a global scale.
(4)The investment of the Company
1.Entrusted money management by non-finance companies and derivatives investment
(1).Entrusted asset management
The Company did not entrust others with asset management in this report period.
(2)Entrusted Loans
The company did not entrust loans in the report period;
(3) Use of raised funds
The company did not raise funds or pre-use raised funds in the reporting period
2.Analysis on principal subsidiaries and Mutual shareholding companies
Share
Registr Legal Vote Organizatio
Subsidiaries Subsidia holdin
ation represent Business Scope ratio(% n
Name ries Type Registered g ratio
Place ative ) code
capital (%)
Huangshi
Dongbei Controlli 24,861,16
Yang Production and
Electromechanic ng Huang 2.85 70681674-
Baichan sales of solar 83.03 83.03
al Subsidia shi 9
g water heaters
Group Solar ries
Energy Co., Ltd.
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黄石东贝电器股份有限公司 2014 年半年度报告
Production and 50,000,00
0.00
sales of
Wuhu Abaur Me Controlli refrigeration
Yang
chanical & Elect ng 78653614-
Wuhu Baichan compressor , 75 75
rical Subsidia 7
g
Co.,Ltd ries Compressor
and
Electrical
Organ casting
Casting of
small and 32,814,07
Controlli
medium-sized 8.23
ng Huang Chen 17841625-
Huangshi cast products, 51.28 51.28
Subsidia shi Baoping 7
Dongbei house renting
ries
Foundry Co., and parking
Ltd. service.
Sales of USD
Refrigeration 1,000,000.
Compressor, 00
Wholly Refrigeration
owned Wang Equipment and
BVI 100 100
subsidiar Guhua Parts ,
Huangshi y Photoelectric
Dongbei products and
International solar water
Trade Co., Ltd. heater ,etc.
Mechanical eng
ineering, energ 8,000,000.
y technology re 00
search and cons
Wholly
Yang ulting services;
owned 09084685-
Wuhan Baichan refrigeration eq 100 100
subsidiar 0
g uipment, electri
y
Dongbei c mechanical, s
(Wuhan )Techno olar energy ma
logy Innovation nufacturing
Co., Ltd.
Production and
200,000,0
sales of
00.00
refrigeration
Wholly
Yang
owned compressor , 09409289-
Suqian Baichan 100 100
subsidiar x
Dongbei g Compressor
y
Mechanical &
and
Electrical
(Jiangsu) Co., Electrical
Ltd. Organ casting
3. Projects invested with the non-raised capital
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黄石东贝电器股份有限公司 2014 年半年度报告
In the report period, the Company has no investment projects using non-raised proceeds.
II.The profit distribution or proposal of conversion of the capital reserve into share capital
(1) Formulation, implementation or adjustment of cash dividend policy
Huangshi Dongbei Electrical Appliance Co., Ltd. 2013 annual profit distribution scheme has been exa
mined the adoption by the company 2013 annual shareholders meeting held on May 19, 2014，
the resolution of the shareholders' meeting was published on "Shanghai Securities News", "Hongkong
commercial daily" and the Shanghai Stock Exchange Web site (www.sse.com.cn) on May 20, 2014. H
uangshi Dongbei Electrical Appliance Co., Ltd. 2013 annual dividend announcement of the implement
ation was published on "Shanghai Securities News", "Hongkong commerical daily" and the website of
Shanghai Stock Exchange (www.sse.com.cn) on June 30, 2014, Confirmed the last trading day of B S
hare: July 7, 2014 : Ex- dividend date: July 8, 2014, Equity registration date: July 10, 2014, The divi
dend payment date: July 18, 2014. The distribution of profits was based on the total share capital of 23
5 million shares expired on the equity registration date July 4 , 2041, distribute cash dividend of RMB
1.00 (tax included) for every 10 shares to all shareholders, total cash dividend of 23.5 million yuan (R
MB), the remaining undistributed profit will be finished next year. (B shares converted into dollars).
III.. Other matters to be disclosed
(1) Explanation of the Board of Directions and Supervisory Committee Concerning the ― non-standard
audit report‖ issued by the CPAs firm for the reporting period.
√Not applicable
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黄石东贝电器股份有限公司 2014 年半年度报告
V. Important Events
I Major lawsuits, Arbitration affairs and Query form media
In the reporting year, the Company had never been involved in any material lawsuit ,arbitration and
Query form media.
II. Matters concerning bankruptcy and reorganization
In the report year, the Company was not involved in matters concerning bankruptcy or reorganization.
III..Asset transactions or enterprise merger
√ Not applicable
IV. Implementation and influence of any equity incentive plan of the Company
√ Not applicable
V.Material related transactions
(I) Related transactions in connection with daily operation
1.
Matters that have been disclosed in provisional announcements and there has been no change or devel
op of subsequent implementation.
Summary of matters Inquiry indexing
Refer to the website of Shanghai Stock Exchange：
1. March 21, 2014，Announcement of Resolutions of
the first Provisional of the Meeting of the board of
directors of Huangshi Dongbei Electrical Appliance
Co., Ltd. No.:2014-002.
Announcement of External Investment and Related Transaction of 2． March 21,2014，Announcement of External Investment
Huangshi Dongbei Electrical Appliance Co., Ltd. and Related Transaction of Huangshi Dongbei Electrical
Applicance Co., Ltd., No.:2014-004..
3. April 8, 2014，Announcement of Resolutions of
the First provisional shareholders' general meeting of
Huangshi Dongbei Electrical Appliance Co., Ltd. No
.:2014-006.
VI. Significant contracts and the status of their performance
(1)The trust, contracting and renting matters
√Not applicable
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黄石东贝电器股份有限公司 2014 年半年度报告
(2). Particulars of guarantee
In RMB
Particulars about the external guarantee of the Company(Barring the guarantee for the controlling subsidiaries)
Whe
ther
guar
Gua
ante whethe Wheth
Name of Amount Occurrence Whet rant
e r er
ee
guarantee Relatio of date (date of Guarantee the Guarantee the Type of her exce anti-gu provid Relationship
warrantee starting date expiration date guarantee ed
de
arantee ed to
target n guarant agreement termi mur
ee signing) nated the exist related
rag
delin or not parties
e
quen
cy
date
Huangshi
Huangshi
Dongbei
Dongbei The January 16, Guarantee
Electromec January 16, January 16, Controlling
Electrical Compan 2,000.00 with joint No No No Yes
Appliance Co., y
hanical 2014 2014 2015 responsibility
shareholders
Group Co.,
Ltd.
Ltd.
Huangshi
Huangshi
Dongbei
Dongbei The April Guarantee
Electromec April 26, April 26, Controlling
Electrical Compan 1,000.00 with joint No No No Yes
Appliance Co., y
hanical 26,2014 2013 2014 responsibility
shareholders
Group Co.,
Ltd.
Ltd.
Huangshi Huangshi Control
Dongbei The Dongbei Guarantee subsidiary
September 4, September 4, September 4,
Electrical Compan Refrigerati 1,000.00 with joint No No No Yes of the
Appliance Co., y ng Co., 2013 2013 2014 responsibility partent
Ltd. Ltd. company
Huangshi Huangshi Control
Dongbei The Dongbei Guarantee subsidiary
December December 3, December 2,
Electrical Compan Refrigerati 1,000.00 with joint No No No Yes of the
Appliance Co., y ng Co., 3,2013 2013 2014 responsibility partent
Ltd. Ltd. company
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黄石东贝电器股份有限公司 2014 年半年度报告
Huangshi Huangshi Control
Dongbei The Dongbei Guarantee subsidiary
February 10, February 10, August 10,
Electrical Compan Refrigerati 500.00 with joint No No No Yes of the
Appliance Co., y ng Co., 2014 2014 2014 responsibility partent
Ltd. Ltd. company
Huangshi Huangshi Control
Dongbei The Dongbei Guarantee subsidiary
April 24, April 24, September
Electrical Compan Refrigerati 980.00 with joint No No No Yes of the
Appliance Co., y ng Co., 2014 2014 19, 2014 responsibility partent
Ltd. Ltd. company
Huangshi Huangshi Contral
Dongbei The Dongbei Guarantee subsidiary
October 17,
Electrical Compan Refrigerati 1,220.00 May 8, 2014 May 8, 2014 with joint No No No Yes of the
Appliance Co., y ng Co., 2014 responsibility partent
Ltd. Ltd. company
Total amount of guarantee in the report (Barring the guarantee for the controlling subsidiaries) 7,700.00
Total balance of guarantee in the report(A)(Barring the guarantee for the controlling subsidiaries) 7,700.00
Guarantees provided by the Company to its controlled subsidiaries
Total amount of guarantees provided to subsidiaries in the report period 80,559.00
Total balance of guarantees provided to subsidiaries at the end of the report period(B) 51,939.82
Total amount of guarantees provided by the company (including the guarantees provided to controlled subsidiaries)
Total amount of guarantee（A+B） 59,639.82
Proportion of the total guarantee in the net assets of the Company(%) 64.67
Of which:
Guarantees provided to the shareholders, substantial controllers and the related parties（C） 7,700.00
Guarantees provided to objects with over70%in liability/capital rate, directly or indirectly（D） 53,924.82
Amount of guarantee over 50％ of the net asset（E） 13,528.01
Total of the above 3*（C+D+E） 53,924.82
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黄石东贝电器股份有限公司 2014 年半年度报告
(3)Other Significant of contracting
The Company was not involved in contracted business in this report period.
VII. Performance of commitments
√Not applicable
VIII . Penalty to the Company and its directors, supervisors and senior executives, shareholders
holding over 5% of total shares, actual controller or buyer and particulars about rectification
In the report period, the Company and its directors, supervisors and senior executives, shareholders
holding over 5% of total shares, actual controller or buyer were not subject to investigation,
administrative penalty and public reprimand by CSRC or public condemnation by stock exchange.
IX. Status of corporate governance
The company is strictly according to the principle of "the company law", "The Securities Law", "man
agement of listing Corporation standards", other relevant laws, regulations, and normative documents
and "the provisions of the articles of association of the company", constantly improve the corporate g
overnance structure, regulate the operations of the company, establish and improve the corporate gove
rnance structure and the rules of procedure, formed a system of a general meeting of shareholders, bo
ard of directors, board of supervisors and the management of the company as the decision-making bod
y structure and management, perform the duties of the "company law" and "articles of association" in
accordance with the law, to ensure that the company's effective operation, and earnestly safeguard the
interests of the majority of investors. Corporate governance situation and the SFC issued relevant listi
ng Corporation management normative documents requested does not exist differences.
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黄石东贝电器股份有限公司 2014 年半年度报告
VI. Particulars about Changes in Share Capital and Shareholders
I. The changes in share capital
(1) The changes in share capital
1.The changes in share capital
In the report period, the total shares and share capital structure of the Company has remained
unchanged.
（2）Change in conditional shares
The Company has not changed in conditional shares of the Report period .
II.Particulars shareholders
1. Shareholding of shareholders holding more than 5% shares
In Shares
Total number of shareholders as at the end of the report period 19,493
Particulars about the shareholding of the top ten shareholders
Increase or Quantity of Quantity of
Shareholder Properties of Share Total quantity
decrease in the Conditional Pledged or
name shareholder proportion % of shares held
year shares held frozen shares
Huangshi
Dongbei
State-owned N/A
Electromechan 50.04 117,600,000 0 117,600,000
legal person
ical Group Co.,
Ltd.
Domestic Unknown
Sun Menglin 1.19 2,805,757 -3,526 0
natural person
Domestic Unknown
Hu Jiaying 0.69 1,627,537 602,401 0
natural person
Changzhou
Domestic
Zhongke
Non-State-own N/A
Electric 0.34 800,000 0 800,000
ed legal
manufacture
person
Co., Ltd.
Domestic Unknown
Wang Yujie 0.22 510,600 26,600 0
natural person
Domestic Unknown
Fan Jongyang 0.19 449,301 221,300 0
natural person
Domestic Unknown
Zhang Zhiping 0.18 429,300 6,800 0
natural person
Domestic Unknown
Jiang Zhongfa 0.17 400,000 0 0
natural person
Changshu Domestic
Tianyin Non-State-own N/A
0.17 400,000 0 400,000
Electromechan ed legal
ical Co., Ltd. person
Shaoxing Domestic
N/A
Xingbei Non-State-own 0.17 400,000 0 400,000
Pressing Co., ed legal
17
黄石东贝电器股份有限公司 2014 年半年度报告
Ltd. person
Shareholding of top 10 shareholders of unrestricted shares
Name of the shareholder Quantity of unrestricted shares held Type and Quantity of shares
Foreign shares placed in
Sun Menglin 2,805,757
domestic exchange
Foreign shares placed in
Hu Jiaying 1,627,537
domestic exchange
Foreign shares placed in
Wang Yujie 510,600
domestic exchange
Foreign shares placed in
Fan Jiongyang 449,301
domestic exchange
Foreign shares placed in
Zhang Zhiping 429,300
domestic exchange
Foreign shares placed in
Jiang Zhongfa 400,000
domestic exchange
Foreign shares placed in
Qin Weiqi 311,100
domestic exchange
SHENYIN WANGUO NOMINEES (H.K.) Foreign shares placed in
303,100
LTD. domestic exchange
Foreign shares placed in
Zhang Yanfang 300,420
domestic exchange
Foreign shares placed in
Sun Xinliang 300,000
domestic exchange
Of the top 10 shareholders, Huangshi Dongbei Electromechanical Group
Co., Ltd., the largest single shareholder, has no relationship with other
shareholders of the Company. They are not the persons taking concerted
action defined in the Regulations on the Information Disclosure of the
Explanation on associated relationship among
Change of Shareholding of Shareholders of Listed Companies. The
the aforesaid shareholders
Company does not know whether there is relation between other
shareholders or whether they are persons taking concerted action defined in
the Regulations on the Information Disclosure of the Change of
Shareholding of Shareholders of Listed Companies.
III. Change of the controlling shareholder or the actual controller
The controlling shareholder or actual controller of the Company has not changed.
Section VII. Situation of the Preferred Shares
No issue regarding preference shares in the report period.
18
黄石东贝电器股份有限公司 2014 年半年度报告
VIII.Particulars about Directors, Supervisors and Senior Executives
1.Change of shares hold
(1) The change of shareholding of directors, supervisors and senior executives who currently hold
their posts or left their posts in the report period and particulars
Shares held by directors , supervisors and senior executives have no changes in reporting period.
2.Change in directors, supervisors and senior executives
Change situation
Name Titles Reason
Lin Yinkun General Manager Appointment New hires of the board of directors
Jiang Shouming Deputy General Appointment New hires of the board of directors
Manager
Lin Yinkun Director Elected At expiration of office term of the
Board of Directors
Lu Lihua Director Elected At expiration of office term of the
Board of Directors
Xie Jincheng Indepenment director Elected At expiration of office term of the
Board of Directors
Ma Yanping Supervisor Elected At expiration of office term of the
Supervisory committee
Hu Rongzhi Supervisor Elected At expiration of office term of the
Supervisory committee
Fang Zeyun General Manager Leave his post Work changes
Fang Zeyun Director Leave his post Qualitative and quantitative of the
Board of Directors
Cao Lijian Director Leave his post Qualitative and quantitative of the
Board of Directors
Yu Yumiao Independent director Leave his post Qualitative and quantitative of the
Board of Directors
Huang Bo Deputy General director Leave his post Work changes
Wang Huasheng Supervisor Leave his post Qualitative and quantitative of the
Supervisory committee
Jiang Zhian Supervisor Leave his post Qualitative and quantitative of the
Supervisory committee
Guo Shuiquan Deputy General director Leave his post At expiration of office term of the
Board of Directors
19
黄石东贝电器股份有限公司 2014 年半年度报告
IX.Financial report (Unaudited)
1. Financial statements
Consolidated Balance Sheet
Prepared by: Huangshi Dongbei Electrical Appliance Co., Ltd.
June 30, 2014 In RMB
Items Notes Year-end balance Year-beginning balance
Current asset：
Monetary fund 591,751,600.35 528,112,035.59
Settlement provision
Outgoing call loan
Trading financial assets
Bill receivable 779,205,686.19 733,301,431.98
Account receivable 1,213,258,282.42 999,871,333.83
Prepayments 136,367,418.15 127,409,973.54
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts
receivable
Interest receivable
Dividend receivable
Other account receivable 15,983,894.44 10,294,402.66
Repurchasing of financial assets
Inventories 392,005,528.83 528,984,793.37
Non-current asset due in 1 year
Other current asset
Total of current assets 3,128,572,410.38 2,927,973,970.97
Non-current assets：
Loans and payment on other‘s behalf
disbursed
Disposable financial asset
Expired investment in possess
Long-term receivable
Long term share equity investment 5,340,169.88 5,579,199.37
Property investment 3,449,811.04 3,876,879.92
Fixed assets 803,499,754.65 816,542,012.66
Construction in progress 44,840,541.79 14,031,259.01
Engineering material
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 74,967,274.90 75,740,680.14
20
黄石东贝电器股份有限公司 2014 年半年度报告
R & D petrol
Goodwill
Long-germ expenses to be amortized 1,304,472.89 1,031,854.03
Differed income tax asset 7,809,352.51 6,899,448.19
Other non-current asset
Total of non-current assets 941,211,377.66 923,701,333.32
Total of assets 4,069,783,788.04 3,851,675,304.29
Consolidated Balance Sheet(Cont‘d)
Current liabilities
Short-term loans 729,051,374.00 682,506,600.00
Loan from Central Bank
Deposit received and hold for others
Call loan received
Trade off financial liabilities
Bill payable 870,709,166.62 736,273,961.21
Account payable 885,692,098.07 940,272,373.02
Prepayment 14,979,523.29 14,762,754.06
Selling of repurchased financial assets
Fees and commissions receivable
Employees‘ wage payable 23,325,036.66 42,108,898.55
Tax payable 36,218,098.38 29,510,041.41
Interest Payable 960,328.49
Dividend Payable 10,009,121.12 10,009,121.12
Other account payable 208,946,851.69 190,061,481.50
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Non-current liability due in 1 year 120,000,000.00
Other current liability
Total of current liability 2,898,931,269.83 2,646,465,559.36
Non-current liabilities：
Long-term loan 1,440,000.00 121,440,000.00
Bond payable
Long-term payable 73,593,343.26 20,784,033.34
Special payable 5,000,000.00 5,000,000.00
Expected liabilities
Differed income tax liability
Other non-current liabilities
Total of non-current liabilities 80,033,343.26 147,224,033.34
Total of liability 2,978,964,613.09 2,793,689,592.70
Owners‘ equity
Share capital 235,000,000.00 235,000,000.00
Capital reserves 190,111,836.26 190,111,836.26
21
黄石东贝电器股份有限公司 2014 年半年度报告
Less：Shares in stock
Special reserves
Surplus reserves 37,944,193.35 37,944,193.35
Common risk provision
Undistributed profit 459,531,850.18 434,569,646.73
Different of foreign currency translation -351,700.00 -193,065.70
Total of owner‘s equity belong to the parent
922,236,179.79 897,432,610.64
company
Minor shareholders‘ equity 168,582,995.16 160,553,100.95
Total of owners‘ equity 1,090,819,174.95 1,057,985,711.59
Total of liabilities and owners‘ equity 4,069,783,788.04 3,851,675,304.29
Legal representative ：Yang Baichang
Person-in-charge of the accounting work：Lu Lihua
Person-in -charge of the accounting organ：Ma Li
Parent Company Balance Sheet
June 30, 2014
Prepared by: Huangshi Dongbei Electrical Appliance Co., Ltd.
In RMB
Items Notes Year-end balance Year-beginning balance
Current Assets
Monetary fund 329,811,216.22 279,658,871.30
Trading financial assets
Bills receivable 290,158,214.31 258,130,401.42
Accounts receivable 865,454,838.26 706,933,185.41
Prepayment 195,055,751.52 187,524,627.07
Interest receivable
Dividend receivable
Other receivables 5,457,458.98 8,403,825.26
Inventory 337,263,143.17 412,601,513.10
Non-current assets due
within 1 year
Other current assets
Total of current assets 2,023,200,622.46 1,853,252,423.56
Non-current assets
22
黄石东贝电器股份有限公司 2014 年半年度报告
Sellable financial assets
Expired investment in
possess
Long-term receivables
Long –term equity
210,646,277.60 62,646,277.60
investment
Investment real estate
Fixed assets 454,501,056.27 459,862,876.50
Construction in progress 25,322,292.35 7,866,927.30
Construction materials
Disposal of fixed assets
Capitalized biological
assets
Oil-gas assets
Intangible assets 34,888,632.90 35,456,430.70
Development expenditure
Goodwill
Long-term deferred
expenses
Deferred tax assets 6,388,003.36 5,958,099.04
Other non-current assets
Total of non-current assets 731,746,262.48 571,790,611.14
Total assets 2,754,946,884.94 2,425,043,034.70
Parent Company Balance Sheet(Cont‘d)
Current Liabilities
Short-term loans 461,262,990.00 429,229,890.00
Trading financial liabilities
Bill payable 411,828,281.58 278,227,961.21
Account payable 496,947,736.78 470,193,678.60
Advances from the
598,723,381.28 464,648,456.39
customers
Employees wage payable 10,458,541.56 17,205,724.65
Taxes payable 22,569,763.12 22,588,647.68
Interests payable
Dividends payable
Other payables 29,914,308.94 30,550,834.86
23
黄石东贝电器股份有限公司 2014 年半年度报告
Non-current liabilities due
120,000,000.00
within 1 year
Other current liabilities
Total of current liabilities 2,151,705,003.26 1,712,645,193.39
Non-current liabilities
Long-term loans 120,000,000.00
Bonds payables
Long-term payable 24,191,183.34 19,737,433.34
Specific purpose account
payable
Contingent liabilities
Deferred tax liabilities
Other non-current liabilities
Total of Non-current
24,191,183.34 139,737,433.34
liabilities
Total liabilities 2,175,896,186.60 1,852,382,626.73
Shareholders‘ Equity
Share capital 235,000,000.00 235,000,000.00
Capital surplus 90,801,937.51 90,801,937.51
Less：Treasury stock
Special reserves
Surplus reserves 37,944,193.35 37,944,193.35
Common risk provision
Undistributed profit 215,304,567.48 208,914,277.11
Total of owners‘ equity 579,050,698.34 572,660,407.97
Total of liabilities and
2,754,946,884.94 2,425,043,034.70
owners‘ equity
Legal representative ：Yang Baichang
Person-in-charge of the accounting work：Lu Lihua
Person-in -charge of the accounting organ：Ma Li
24
黄石东贝电器股份有限公司 2014 年半年度报告
Consolidated Profit statement
January-June 2014
In RMB
Amount of the Report
Items Notes Amount of previous year
period
I.Total business income 2,269,550,201.85 2,390,456,912.38
Less：Business income 2,269,550,201.85 2,390,456,912.38
Interest income
Insurance fee earned
Fee and commission received
II.Total business cost 2,234,700,689.15 2,352,773,842.02
Incl：Business cost 2,026,592,510.22 2,143,762,531.87
Interest expense
Fee and commission paid
Reinsurance expenses
Insurance discharge payment
Net claim amount paid
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 8,154,348.54 8,300,539.12
Sales expense 56,321,177.74 56,012,811.31
Administrative expense 109,089,449.94 98,710,434.27
Financial expenses 28,477,173.91 38,280,044.61
Asset impairment loss 6,066,028.80 7,707,480.84
Add：Gains from change of fir value
（―-‖for loss）
Investment gain（―-‖for loss） -239,029.49 -189,848.03
Incl: investment gains from affiliates
Gains from currency exchange（―-‖for loss）
III. Operational profit（―-‖for loss 34,610,483.21 37,493,222.33
Add：Non-business income 14,723,771.45 6,454,525.37
Less：Non business expenses 2,175,388.22 1,578,634.33
Incl：Loss from disposal of non-current
assets
IV.Total profit(―-‖for loss) 47,158,866.44 42,369,113.37
Less：Income tax expenses 14,166,768.78 13,153,331.49
V. Net profit（―-‖for net loss 32,992,097.66 29,215,781.88
Net profit attributable to the owners of
24,962,203.45 24,062,624.84
parent company
Minority shareholders‘ equity 8,029,894.21 5,153,157.04
VI. Earnings per share：
（I）Basic earnings per share 0.106 0.102
(II)Diluted earnings per share 0.106 0.102
25
黄石东贝电器股份有限公司 2014 年半年度报告
VII. Other comprehensive income
VIII. Total comprehensive income 32,992,097.66 29,215,781.88
Total comprehensive income attributable to
24,962,203.45 24,062,624.84
the owner of the parent company
Total comprehensive income attributable
8,029,894.21 5,153,157.04
minority shareholders
Legal representative ：Yang Baichang
Person-in-charge of the accounting work：Lu Lihua
Person-in -charge of the accounting organ：Ma Li
Parent Company profit statement
January –June 2014 In RMB
Amount of the Report
Items Notes Amount of previous year
period
I. Business income 1,638,124,367.58 1,844,438,182.12
Less：Business cost 1,535,263,926.01 1,733,785,968.06
Business tax and surcharge 4,680,493.73 1,606,641.97
Sales expense 22,191,197.74 22,447,716.79
Administrative expense 56,979,768.22 54,935,545.95
Financial expenses 8,678,845.38 17,802,558.77
Asset impairment loss 2,866,028.80 6,339,426.91
Add：Gains from change of fair value
Investment Income
Including： Investment gains from affiliates
enterprises and Joint venture enterprises
II.Business profit 7,464,107.70 7,520,323.67
Add：Non-business income 3,652,137.04 5,306,652.07
Less：Non business expenses 1,857,079.60 1,445,359.94
Including：Loss from disposal of non-current
assets
III. Total profit 9,259,165.14 11,381,615.80
Less：Income tax expenses 2,868,874.77 3,529,717.99
IV. Net profit 6,390,290.37 7,851,897.81
V. Earnings per share：
26
黄石东贝电器股份有限公司 2014 年半年度报告
（I）Basic earnings per share 0.0272 0.0334
(II)Diluted earnings per share 0.0272 0.0334
VI. Other comprehensive income
VII. Total comprehensive income 6,390,290.37 7,851,897.81
Legal representative ：Yang Baichang
Person-in-charge of the accounting work：Lu Lihua
Person-in -charge of the accounting organ：Ma Li
Consolidated Cash flow statement
January –June 2014 In RMB
Amount of the Report Amount of previous
Items Notes
period year
I.Net cash flow from business operation
Cash received from sales of products and
2,387,154,827.55 2,555,650,453.63
providing of services
Net increase of customer deposits and
capital kept for brother company
Net increase of loans from central bank
Net increase of inter bank loans from other
financial bodies
Cash received against original insurance
contract
Net cash received from reinsurance business
Net increase of client deposit and investment
Net increase of trade financial asset disposal
Cash received as interest, processing fee, and
commission
Net increase of inter bank fund received
Net increase of repurchasing business
Tax returned 29,828,393.37 33,745,483.94
Other cash received from business operation 27,144,437.08 10,941,302.88
Subtotal of cash inflow from business
2,444,127,658.00 2,600,337,240.45
activities
Cash paid for purchasing of merchandise and
1,969,083,511.61 2,375,296,168.72
services
Net increase of client trade and advance
Net increase of savings in central bank and
brother company
Cash paid for original contract claim
27
黄石东贝电器股份有限公司 2014 年半年度报告
Cash paid for interest, processing fee and
commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 171,237,628.09 167,404,419.89
Taxes paid 70,940,653.39 85,412,321.97
Other cash paid for business activities 60,213,369.23 58,335,880.48
Subtotal of cash outflow from business
2,271,475,162.32 2,686,448,791.06
activities
Cash flow generated by business operation,
172,652,495.68 -86,111,550.61
net
II. Cash flow generated by investing
Cash received from investment retrieving
Cash received as investment gains
Net cash retrieved from disposal of fixed
assets, intangible assets, and other long-term 517,601.00 145,499.95
assets
Net cash received from disposal of
subsidiaries or other operational units
Other investment related cash received
Subtotal of cash inflow due to investment
517,601.00 145,499.95
activities
Cash paid for construction of fixed assets,
69,299,971.21 53,566,626.51
intangible assets and other long-term assets
Cash paid at investment
Net increase of loan against pledge
Net cash received from subsidiaries and other
operational units
Other cash paid for investment activities
Subtotal of cash outflow due to investment
69,299,971.21 53,566,626.51
activities
Net cash flow generated by investment -68,782,370.21 -53,421,126.56
III.Cash flow generated by financing
Cash received as investment
Incl: Cash received as investment from minor
shareholders
Cash received as loans 759,405,225.83 1,061,479,516.00
Cash received from bond placing
Other financing –related cash received
Subtotal of cash inflow from financing
759,405,225.83 1,061,479,516.00
activities
Cash to repay debts 688,924,502.00 814,637,118.00
Cash paid as dividend, profit, or interests 24,108,778.25 23,290,342.41
Incl: Dividend and profit paid by subsidiaries
to minor shareholders
Other financing –related cash received
Subtotal of cash outflow due to financing
713,033,280.25 837,927,460.41
activities
Net cash flow generated by financing 46,371,945.58 223,552,055.59
28
黄石东贝电器股份有限公司 2014 年半年度报告
IV. Influence of exchange rate alternation on
cash and cash equivalents
V.Net increase of cash and cash equivalents 150,242,071.05 84,019,378.42
Add：Balance of cash and cash equivalents at
441,509,529.30 507,535,311.99
the beginning of term
VI. Balance of cash and cash equivalents at
591,751,600.35 591,554,690.41
the end of term
Legal representative ：Yang Baichang
Person-in-charge of the accounting work：Lu Lihua
Person-in -charge of the accounting organ：Ma Li
Parent Company Cash flow statement
January –June 2014 In RMB
Amount of the Report Amount of previous
Items Notes
period year
I.Cash flow from operating activities
Cash received from sales of goods or rending of
1,948,367,613.31 2,206,349,473.83
services
Refunded taxes and levies 22,715,655.70 32,804,026.48
Other cash receipts related to operating
8,491,874.42 4,345,723.94
activities
Subtotal of cash inflow 1,979,575,143.43 2,243,499,224.25
Cash paid for purchasing commodities and
1,573,678,862.46 2,160,934,010.83
accepting labor
Cash paid to staffs or paid for staffs 83,722,501.15 84,076,127.77
Taxes paid 23,203,186.21 15,033,254.48
Other cash paid for business activities 46,580,001.23 54,887,675.73
Sub-total of cash outflow 1,727,184,551.05 2,314,931,068.81
Cash flow generated by business operation, net 252,390,592.38 -71,431,844.56
II.Cash flow generated by investing
Cash received from investment retrieving
Cash received as investment gains
Net cash retrieved from disposal of fixed assets,
517,601.00 145,499.95
intangible assets, and other long-term assets
Net cash received from disposal of subsidiaries
or other operational units
Other investment-related cash received
Sub-total of cash inflow 517,601.00 145,499.95
Cash paid for construction of fixed assets,
42,409,793.24 40,592,405.58
intangible assets and other long-term assets
Cash paid as investment 148,000,000.00
29
黄石东贝电器股份有限公司 2014 年半年度报告
Net cash received from subsidiaries and other
operational units
Other cash paid for investment activities
Sub-total of cash outflow 190,409,793.24 40,592,405.58
Net cash flow generated by investment -189,892,192.24 -40,446,905.63
III.Cash flow from financing activities
Cash flow from absorption investing
Cash received as loans 525,679,437.00 832,696,148.00
Cash received from bond placing
Other financing –related cash received
Subtotal of cash inflow from financing activities 525,679,437.00 832,696,148.00
Cash to repay debts 492,499,302.00 558,338,750.00
Cash paid as dividend, profit, or interests 13,377,440.53 11,976,209.95
Other financing –related cash received
Subtotal of cash outflow due to financing
505,876,742.53 570,314,959.95
activities
Net cash flow generated by financing 19,802,694.47 262,381,188.05
IV. Influence of exchange rate alternation on
cash and cash equivalents
V.Net increase of cash and cash equivalents 82,301,094.61 150,502,437.86
Add：Balance of cash and cash equivalents at
247,510,121.61 239,540,473.29
the beginning of term
VI. Balance of cash and cash equivalents at the
329,811,216.22 390,042,911.15
end of term
Legal representative ：Yang Baichang
Person-in-charge of the accounting work：Lu Lihua
Person-in -charge of the accounting organ：Ma Li
30
黄石东贝电器股份有限公司 2014 年半年度报告
Consolidated Statement on Change of Owners‘ Equity
January –June 2014
In RMB
Amount of the current term
Owners‘ Equity attributable to Parent Company
Spec
Items
Less: Comm Minor Total of
ializ
Capital Share Surplus on risk Attributable shareholders‘ owners‘
Share Capital ed Other
reserves s in reserves provisi profit equity equity
reser
stock on
ve
1,057,985,71
I.Balance at the end of last year 235,000,000.00 190,111,836.26 37,944,193.35 434,569,646.73 -193,065.70 160,553,100.95
1.59
Add: Change of accounting
policy
Correcting of previous errors
Other
II.Balance at the beginning of 1,057,985,71
235,000,000.00 190,111,836.26 37,944,193.35 434,569,646.73 -193,065.70 160,553,100.95
current year 1.59
32,833,463.3
III.Changed in the current year 24,962,203.45 -158,634.30 8,029,894.21
6
32,992,097.6
（I） Net profit 24,962,203.45 8,029,894.21
6
（II）Other misc.income -158,634.30 -158,634.30
32,833,463.3
Total of (I) and (II) 24,962,203.45 -158,634.30 8,029,894.21
6
(III) Investment or decreasing
of capital by owners
1. Capital inputted by owners
2．Amount of shares paid and
accounted as owners‘ equity
3．Other
（IV）Profit allotment
1.Providing of surplus reserves
2．Common risk provision
31
黄石东贝电器股份有限公司 2014 年半年度报告
3. Allotment to the owners (or
shareholders)
4．Other
(V) Internal transferring of
owners‘ equity
1. Capitalizing of capital
reserves (or to capital shares)
2. Capitalizing of surplus
reserves (or to capital shares)
3．Making up losses by surplus
reserves.
4．Other
(VI) Special reserves
1. Provided this year
2．Used this term
(VII).Other
IV. Balance at the end of this 1,090,819,17
235,000,000.00 190,111,836.26 37,944,193.35 459,531,850.18 -351,700.00 168,582,995.16
term 4.95
In RMB
Amount in last year
Owner‘s equity Attributable to the Parent Company
Items
Less: Speci Commo Minor Total of
Capital Share alized Surplus n risk Attributable shareholders‘ owners‘
Share Capital Other
reserves s in reserv reserves provisio profit equity equity
stock e n
I.Balance at the end of last 941,540,023.8
235,000,000.00 190,111,836.26 36,008,607.48 342,680,456.41 137,739,123.68
year 3
Add：Business combination
involving entities under
common control
Add: Change of accounting
policy
Correcting of previous errors
941,540,023.8
Other 235,000,000.00 190,111,836.26 36,008,607.48 342,680,456.41 137,739,123.68
3
II.Balance at the beginning of 1,935,585.87 91,889,190.32 -193,065.70 22,813,977.27 116,445,687.7
32
黄石东贝电器股份有限公司 2014 年半年度报告
current year 6
III.Changed in the current 116,638,753.4
93,824,776.19 22,813,977.27
year 6
（I） Net profit -193,065.70 -193,065.70
116,445,687.7
（II）Other misc.income 93,824,776.19 -193,065.70 22,813,977.27
6
Total of (I) and (II)
(III) Investment or decreasing
of capital by owners
1. Capital inputted by owners
2．Amount of shares paid and
accounted as owners‘ equity
（IV）Profit allotment 1,935,585.87 -1,935,585.87
1.Providing of surplus
1,935,585.87 -1,935,585.87
reserves
2．Common risk provision
3. Allotment to the owners (or
shareholders)
4. Other
(V) Internal transferring of
owners‘ equity
1. Capitalizing of capital
reserves (or to capital shares)
2. Capitalizing of surplus
reserves (or to capital shares)
3．Making up losses by
surplus reserves.
4. Other
(VI) Special reserves
1. Provided this year
2．Used this term
(VII).Other
IV. Balance at the end of this 1,057,985,711
235,000,000.00 190,111,836.26 37,944,193.35 434,569,646.73 -193,065.70 160,553,100.95
term .59
33
黄石东贝电器股份有限公司 2014 年半年度报告
Legal representative ：Yang Baichang
Person-in-charge of the accounting work：Lu Lihua
Person-in -charge of the accounting organ：Ma Li
Statement on Changes of Owners‘ Equity of Parent Company
January-June 2014 In RMB
Amount of the current term
Less： Speci Commo
Items Practical capital Capital Shares alized Surplus n risk Attributable Total of
collected reserves in reserv reserves provisio profit owners‘ equity
stock e n
I.Balance at the end of last year 235,000,000.00 90,801,937.51 37,944,193.35 208,914,277.11 572,660,407.97
Add: Change of accounting policy
Correcting of previous errors
Other
II.Balance at the beginning of current year 235,000,000.00 90,801,937.51 37,944,193.35 208,914,277.11 572,660,407.97
III.Changed in the current year 6,390,290.37 6,390,290.37
（I） Net profit 6,390,290.37 6,390,290.37
（II）Other misc.income
Total of (I) and (II) 6,390,290.37 6,390,290.37
(III) Investment or decreasing of capital by owners
1. Capital inputted by owners
2.Amount of shares paid and accounted as owners‘
equity
3. Other
（IV）Profit allotment
1.Providing of surplus reserves
2．Common risk provision
3. Allotment to the owners (or shareholders)
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黄石东贝电器股份有限公司 2014 年半年度报告
4. Other
(V) Internal transferring of owners‘ equity
1. Capitalizing of capital reserves (or to capital
shares)
2. Capitalizing of surplus reserves (or to capital
shares)
3．Making up losses by surplus reserves.
4. Other
(VI) Special reserves
1. Provided this year
2．Used this term
(VII).Other
IV. Balance at the end of this term 235,000,000.00 90,801,937.51 37,944,193.35 215,304,567.48 579,050,698.34
Amount in last year
Less: Speci Comm
Items Capital Shares alized Surplus on risk Attributable Total of owners‘
Share Capital
reserves in reserv reserves provisi profit equity
stock e on
I.Balance at the end of last year 235,000,000.00 90,801,937.51 36,008,607.48 191,494,004.25 553,304,549.24
Add: Change of accounting policy
Correcting of previous errors
Other
II.Balance at the beginning of current year 235,000,000.00 90,801,937.51 36,008,607.48 191,494,004.25 553,304,549.24
III.Changed in the current year 1,935,585.87 17,420,272.86 19,355,858.73
（I） Net profit 19,355,858.73 19,355,858.73
（II）Other misc.income
Subtotal of (I) and (II) 19,355,858.73 19,355,858.73
(III) Investment or decreasing of capital by
owners
1. Capital inputted by owners
2 ． Amount of shares paid and accounted as
owners‘ equity
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黄石东贝电器股份有限公司 2014 年半年度报告
3. Other
（IV）Profit allotment 1,935,585.87 -1,935,585.87
1.Providing of surplus reserves 1,935,585.87 -1,935,585.87
2.Providing of common risk provisions
3．Allotment to the owners (or shareholders)
4．Other
(V) Internal transferring of owners‘ equity
1. Capitalizing of capital reserves (or to capital
shares)
2. Capitalizing of surplus reserves (or to capital
shares)
3．Making up losses by surplus reserves.
4. Other
(VI) Special reserves
1. Provided this year
2．Used this term
（VII）Other
IV. Balance at the end of this term 235,000,000.00 90,801,937.51 37,944,193.35 208,914,277.11 572,660,407.97
Legal representative ：Yang Baichang
Person-in-charge of the accounting work：Lu Lihua
Person-in -charge of the accounting organ：Ma Li
36
黄石东贝电器股份有限公司 2014 年半年度报告
Huangshi Dongbei Electrical Appliance Co., Ltd.
Notes to Financial Statements
（January 1, 2014-June 30, 2014）
(Referring to notes to consolidated financial statements unless separately stated. Currency:
RMB)
I. Company Profile
This Company is a joint stock company limited jointly promoted and established Huangshi Dongbei
Refrigerating Machine Group Co., Ltd. (The Company is now renamed as Huangshi Dongbei
Electromechanical Group Co., Ltd.), Changzhou Luoke Refrigerating Electrical Co., Ltd. (The Company is
now renamed as Changzhou Zhongke Electrical Manufacturing Co., Ltd..), Changshu Bixi Radio
Factory.( The Company is now renamed as Changshu Tianyin Electromechanical Co., Ltd.), Zhuji Electrical
Machinery.( The Company is now renamed as Zhejiang Lisheng Electromechanical Manufacturing Co.,
Ltd.), Shaoxing Pressing Factory(The Company is now renamed as Shaoxing Xingbei Pressing Co.,
Ltd.),Wuhan Xinhua Hardware Factory (The Company is now renamed as Wuhan Xinhua Pressing Co.,
Ltd.), which was registered at Industrial and Commercial Administration of Hubei Province on March 10,
1999.
On May 28, 1999, the Company was approved by China Securities Regulatory Commission to issue
100,000,000 domestically listed foreign investment shares (B shares). B shares were listed and traded at
Shanghai Stock Exchange on July 15, 1999. Over-allotment option for 15,000,000 shares was fully
exercised before August 13, 1999.
After the completion of the issuance of B shares, the registered capital of the Company was RMB
235,000,000.00, which was divided into 235,000,000.00 shares with par value of RMB 1 per share.
117,600,000 shares are state-owned shares, which are held by Dongbei Refrigerating Machine Group Co.
according to the entrustment by Huangshi State-owned Asset Administration. The other five promoters hold
2,400,000 shares. 115,000,000 shares are negotiable B shares.
The Company obtained WJMZSZ (1999) No. 0098 approval certificate on October 21, 1999 and
obtained QGEZZ No. 002678 business license on November 2, 1999, becoming a sign-foreign joint venture
company limited.
On September 10, 2002, Huangshi Dongbei Refrigerating Machine Group Co., Ltd. (now renamed as
Huangshi Dongbei Refrigerating Machine Industrial Co.), the original controlling shareholder of the
Company, established Huangshi Dongbei Electromechanical Group Co., Ltd. (hereinafter referred to as
"Dongbei Electromechanical Group") with three asset management companies, i.e., Oriental, Huarong and
Xinda with main operating assets (including 50.04% equity of the Company held by it) according to the
Agreement for Conversion of Creditor's Rights into Shares and the approval document issued by State
Economic and Trading Commission to approve the conversion of creditor's rights into shares by Huangshi
Dongbei Refrigerating Machine Group Co., Ltd. After Huangshi Dongbei Electromechanical Group Co.,
Ltd. was founded, the controlling shareholder of the company Refrigerating Machine Group Company was
transferred to Huangshi Dongbei Electromechanical Group Co., Ltd. Because the nature of the 117.6 million
shares of equity held by Refrigerating Machine Group Company was state shares, the equity transfer must
be appoved by the Ministry of Finance. Huangshi Dongbei Cooler Group Company agreed to commission
Huanshi Dongbei Electromechanical Group Co., Ltd. to manage the 117.6 million shares of state equity.
On March 28, 2005, under GuoZiChanQuan [2005] No.197 Reply to Issues Related to Change of
Stated-Owned Holder for Huangshi Dongbei Electrical Appliance Co., Ltd, State Council agreed to change
the 117,600,000 state-owned shares of Huangshi Dongbei Electrical Appliance Co, Ltd held by Huangshi
Dongbei Refrigerating Machinery Industry Corp. (the name of former Huangshi Dongbei Refrigerating
Group Corp. was changed as Huangshi Dongbei Refrigerating Machinery Industry Corp.) to be held by
Huangshi Dongbei Electromachinery(Group) Co., Ltd., with the changed nature of equity as state-owned
legal-representative share.
Registered Address: No.6, Wuhuang Road, Tieshan District , Huangshi City, Hubei Province.
Business licence registration number: 420000400004635
Registered Capital : RMB 235,000,000.00
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黄石东贝电器股份有限公司 2014 年半年度报告
Legal Representative：Yang Baichang
Business scope: Production and sales of refrigerating compressors and electrical motors of compressors,
development, production and consultation of high-tech products.
II.Significant accounting policies, accounting estimates and early errors
1. Basis for the preparation of financial statements
The preparation of financial statements of the company based on continuous operation.Base on actual
transactions and events occurring, according to the ministry of finance issued ―Accounting Standards for
Enterprises - Basic Standards‖ on 15th February 2006 and 38 items of specific accounting standards,
application guidelines of accounting standards which was promulgated after, accounting standards
interpretation and other requirements (hereafter named ―Enterprise Accounting Standard”), based on the
significant accounting policies described below, and will have the preparation to the accounting estimation.
2.Statement for complying with the accourting standard
The financial statements prepared by the Company comply with the requirements of corporate accounting
standards. They truly and completely reflect the financial situations in June 30, 2014, operating results,
equity changes and cash flow, and other relevant information of the company in January- June 2014.
Fiscal year: The fiscal year of the Company starts on January 1 and ends on June 30, on the Gregorian
calendar.
3.Standard currency for bookkeeping:
If the account standard money is the other currency in addition to RMB
4.The accounting solution of business combinations under the same and different control
(1)Corporate merger under same control
For the corporate merger under same control, the method of equity should be adopted to do accounting
treatment. Except for the adjustments due to different accounting policies, the assets and liabilities of the
party being merged should be measured according to the original book value and goodwill will not form.
The difference between the book value of the merging price and the book value of net assets obtained from
merger should be adjusted in capital surplus. If the capital surplus is not enough to be deducted, the retained
income should be adjusted.
The direct related occurring costs of the conduct of business merger reckon in profit or loss.
(2). Corporate merger under different controls
With the merger under the different control, the merger cost is the assets to pay, liabilities incurred or
taken and the fair value of the issued equity securities which a buyer gains the control from the acquiree on
the purchase date.
The combination cost is the sum of each single transaction cost for the enterprise combination achieved by
multiple transactions step by step. All the relevant direct expense paid by the purchaser for the conduct of
business combination should be accounted into current profit and loss. In case of any future events defined
in merger contract whose predictable occurrence could influence the merger cost and the related amount
could be reliably calculated at merger date, such amount should also be included in merger cost.
The acquiree acquired during the business merger not under same control met the conditions of
confirmation can be identified as assets, loans and contingent liabilities, which are measured with the fair
value at the date of purchase. The balance of the identifiable net assets‘ fair value, which is the merger cost
from the buyer that is more than the acquiree confirmed, regarded as goodwill. Contrarily, less than the
acquiree confirmed, after reviewing the merger cost still less than the acquiree confirmed in the balance of
the identifiable net assets‘ fair value, reckoned in the profit and loss.
5. The method of drawing up the Consolidation financial statements
The company has real control to the subsidiary and special purpose entity which are included in the
scope of Consolidation financial statements.
The combining financial statements are in accordance with the ―No. 33 Accounting Standards for
Enterprises –Consolidation Financial Statements‖ and the related requirements for drawing up, offsetting
the context of all major transactions and exchanges when is in merger. The subsidiary equity not belong the
part of parent company, but is as minority interests presented separately in the Consolidation financial
statements.
Subsidiaries and the company adopted accounting policies or be inconsistent in the accounting period,
in preparing Consolidation financial statements, in accordance with the company accounting policies or
38
黄石东贝电器股份有限公司 2014 年半年度报告
has the necessary adjustments to financial statements of the subsidiary during the accounting period.
The business merger acquired subsidiaries under the different control, in preparing Consolidation
financial statements, based on the fair value of identifiable net assets on the purchase date to adjust their
individual financial statements; be under the same control, subsidiary acquired by the enterprise merger, will
be regard as the enterprise merger at the beginning of the current period when the combination has already
occurred, the current period from the beginning of the merger, its assets, liabilities, operating results and
cash flows would include in the Consolidation financial statements.
6. The determination standard in cash and cash equivalents
The cash has been confirmed when the company drew up the cash flow sheet, it referred to the cash can be
used to pay the deposit at any time
The cash listed in the cash flow statement refers to the cash in store and the cash can be obtained at any time.
Cash equivalent means the holding period of the company is short, strong liquidity and low risk of value
fluctuation.
7.The foreign currency business and the translation of foreign currency financial statement
（1）The foreign currency translation services
The company with the foreign occurring currency transactions, which used the standard money by the
spot exchange rate on the transaction date to enter an item in an account.
The balance sheet date, For monetary items of foreign currency, the spot exchange rate at the date of
balance sheet shall be used in conversion. The exchange balance due to the difference between the spot
exchange rate at the date of balance sheet and the spot exchange rate at initial confirmation or at the date of
previous balance sheet shall be attributed to the profit and loss of current period, except the exchange
balance due to the special loans of foreign currency meeting the conditions of capitalization shall be
attributed to the cost of related assets based on capitalization during the capitalization.
For the non-monetary items of foreign currency measured with historical cost, still the spot exchange rate at
the date of transaction shall be used, and the amount of recording currency shall not be changed. For the
non-monetary items of foreign currency measured with fair value, the spot exchange rate at the date of the
fair value confirmation shall be used in conversion, the difference between the amount of recording
currency after conversion and that of initial recording currency is made as the change of fair value, which
shall be attributed to the profit and loss of current period or confirmed as other composite income and
attributed to capital reserves.
（2）The foreign currency financial statements
The company with the subsidiaries, joint ventures and integrated enterprises and so on, will use the
different functional currency account after the conversion by the foreign currency financial statements, and
will have an accounting practice and an editing to the combined financial statements.
The assets in the balance sheet and liabilities items, by using the spot exchange rate on the balance
sheet date, all equity projects except the item of ―Undistributed Profits‖, other items were calculated by the
spot exchange rate. With the income and expense items, it was determined by a systematic and rational
approach, and calculated by the approximate exchange rate of the spot exchange rate to convert on the
transaction date. The converting differences generated by the foreign currency financial statements, and all
equity items in the balance sheet are listed separately.
The foreign currency cash flows are determined in accordance with systematical and reasonable way,
and calculated by the spot exchange rate on the approximate exchange rate. The impact of the changing
exchange rate to the cash amount, is shown separately in the cash flow statement
In disposal of overseas operation, the conversion difference of the foreign currency statements related the
overseas operation shall be transferred into the profit and loss of current period in whole or as per the ratio
in disposal of the overseas operation.
8.Financial instruments
（1）The classification of financial instruments, recognition and measurement
The financial instruments classified as financial assets or financial liabilities
The financial assets at the initial recognition are classified as: by measuring at the fair value and its
alternation are reckoned into the financial assets of the profit or loss (included trading financial assets and
the fair value and its alternation are designated into the financial assets of the profit or loss), the
held-to-maturity investment, receivables, and available-for-sale financial assets. Except the receivables
beyond the financial assets classification, which depend on the company and their subsidiaries have the
39
黄石东贝电器股份有限公司 2014 年半年度报告
intention and ability to hold on.
The financial liabilities at the initial recognition are classified as: by measuring at the fair value and its
alternation are reckoned into the financial liabilities of the profit or loss (included trading financial liabilities
and the fair value and its alternation are designated into the financial liabilities of the profit or loss) and
other financial liabilities.
The company became a party in the financial instrument contract; it was recognized as the financial asset or
the financial liability.
The financial assets or financial liabilities are initially recognized as the fair value of the company. The
subsequent measurement shall be disposed by classification: the financial assets measured with fair value
and having its change attributed to the profit and loss of current period, the salable financial assets and the
financial liabilities measured with fair value and having its change attributed to the profit and loss of current
period, shall be measured with the fair value; the financial guarantee contracts and the loan commitment
with the loan below the interest rate in the market shall be measured again according to the following
amounts, whichever is bigger: one is in accordance with the ―Accounting Standards for Enterprises No. 13 –
Contingent Events‖ after the initial confirmation, another is the balance of the initially recognized amount
less the accumulative amortization amount which is recognized in accordance with the principle of the
―Accounting Standards for Enterprises No. 14 – Revenue‖; held-to-maturity investments, loan and
receivables and other financial liabilities shall be measured as per amortized cost.
The financial assets or financial liabilities are measured in the follow-up changes in the fair value gains
or losses, except the hedging, are processed in accordance with the following: 1. By measuring at fair value
through alteration to calculate the profit or loss of its financial assets or the fair value gains or losses from
the alteration in the financial liabilities, they will go into the profits or losses of fair value; the interest or
cash dividends acquired in the holding assets period, are recognized as investment income; when it is in the
disposition, the received actual amount and the balance in the amount initially recorded, are identified as the
investment income, simultaneously adjusted the profit and loss from the fair value alteration. 2. The fair
value alteration of available-for-sale financial assets is included in capital surplus, the interest calculated by
the effective method in the holding period, and is reckoned in the investment income; when it is in the
disposition, the actual amount received and the balance from the book value by deducting the fair value
alternation which directly included in capital surplus, then are recognized as the investment income.
（2）The confirmation of the transferring in financial assets and measurement
The company confirmed the transferring of financial assets based on: when the ownership of financial
assets is transferring almost all of the risks and rewards, neither transferring nor retaining them, but give up
the control of financial assets, and should terminate and recognize it as financial capital .
The measurement in the transferring of financial assets: the financial assets satisfied the termination
conditions, it should be transferred by measuring; it meant the transferring of the book value in financial
assets and consideration received from the transferring, and the balance in the changing amount of fair value
which directly included in capital surplus, then reckoned in the profit and loss.
The financial assets in transferring meets the termination and confirmation conditions, it will be
transferred the book value of the total financial assets between the part of termination and recognition and
the part not be terminated and confirmed, according to their relative fair value to apportion, and put the
book value of the confirmation and termination and the received recognition and the balance in the changing
amount of fair value which directly included in capital surplus, then reckoned in the profit and loss.
（3）The termination and confirmation conditions of financial liabilities
The financial liabilities termination and confirmation conditions: when the existing obligations of the
financial liabilities have been fully or partly lifted, it should be terminated and confirmed the financial
liabilities or a part of it.
（4）The financial assets and financial liabilities are recognized at fair value method
The fair value recognition method in the financial assets and financial liabilities: if there is an active
market for financial instruments, the quote from the active market to determine the fair value; if not,
adopting valuation techniques to determine the fair value.
The valuation techniques include the prices in recent market which referring to be familiar with the
situation and voluntary parties to the recent transaction, also include the current fair value of other same
financial assets, and the cash flow. When using a valuation technique, maximum the priority to use the
market parameters, reduce the use in its related parameters of the company and certain subsidiaries.
（5）The impairment of financial assets
40
黄石东贝电器股份有限公司 2014 年半年度报告
The company will have the assets devaluating check to the book value on the balance date, and
measure at fair value through profit or loss. When the objective evidence showed the financial assets
devaluating, it should have the test on it, and have a preparation to the provision for asset losses in
accordance with the result.
For the financial assets with significant individual amount, a depreciation test shall be conducted separately;
for the financial assets with insignificant individual amount, the company shall make separately for
depreciation test, or the similar feature of credit risks included in the portfolio of financial assets for loss test.
Separate tests without depreciation of financial assets (including the amount of major and non-major
individual financial assets), shall be included in a similar credit risk characteristics of financial assets in the
portfolio to pay test again. The depreciation loss of financial assets which has been confirmed individually
shall not be included in a similar credit risk feature of a portfolio of financial assets for depreciation test.
If the held-to-maturity investments, liabilities and receivables are depreciated, the company shall write
down the book value to the estimated current value of future cash flow, and the reduced amount shall be
made as depreciation loss, which shall be attributed to the profit and loss of current period. When the salable
financial asset is depreciated, the aggregate losses due to decrease of fair value, originally attributed to the
capital reserves, shall be transferred out and attributed to the profit and loss of current period; the transferred
cumulative losses is the balance of the initially attained financial asset costs deducted the reclaimable
principal and amortization amount, the current fair value and the loss from depreciation initially attributed
to profit and loss.
The objective evidences that the Company uses to determine the impairment are as follows:：
①Significant financial difficulty of the issuer or obligor;
②A breach of contract, such as a default or delinquency in interest or principal payments;
③The lender, for economic or legal reasons relating to the borrower's financial difficulty, grants to the
borrower a concession that the lender would not otherwise consider;
④It becomes probable that the borrower will enter bankruptcy or other financial re-organization;
⑤The disappearance of an active market for that financial asset because of financial difficulties;
⑥observable data indicates that there is a measurable decrease in the estimated future cash flows from a
group of financial assets
since the initial recognition of those assets, although the decrease cannot yet be identified with the
individual financial assets in the group, including: (i) Adverse changes in the payment status of borrowers in
the group or (ii) an increase in the unemployment rate in the geographical area of the borrowers, a decrease
in property prices for mortgages in the relevant area, or adverse changes in industry conditions that affect
the borrowers.
⑦Significant changes with an adverse effect that have taken place in the technological, market, economic
or legal environment in which the borrower operates, and indicates that the cost of the investment in the
equity instrument may not be recovered;
⑧A significant or non-temporary decrease in fair value of equity investment instruments;
The criteria made by the company for the fair value of equity instrument investment available for sale
suffering serious drop is that: if there is significant decline in the fair value of individual financial assets
available for sale and beyond the holding cost of 50%. Thus, the depreciation provision is required and the
depreciation loss is confirmed for the serious depreciation that is recognized for the financial assets
available for sale.
The criteria made by the company for the fair value of equity instrument investment available for sale
suffering non-temporary drop is that: if there is significant decline in the fair value of individual financial
assets available for sale, the drop is expected to belong to the non-temporary one with over one year of
duration, and no fundamental change is in whole duration, the depreciation provision is required and the
depreciation loss is confirmed for the non-temporary depreciation that recognized for the financial assets
available for sale.
41
黄石东贝电器股份有限公司 2014 年半年度报告
⑨Other objective evidences for the depreciation of financial assets.
（6）The reclassification of financial assets
The held-to-maturity investment is postdated and has been reclassified as available-for-sale financial assets
for the main judging:
1）There is no available financial resource which has the sustainable support to the financial assets, and
let its investments hold to maturity.
2）The management has no intention to hold to maturity
3） Be restricted by laws and administrative regulations or other reasons, the financial assets difficult in
hold to maturity
4）Other indicates the company does not have ability to hold to maturity
The held-to-maturity investment is important and postdated have reclassified as available-for-sale
financial assets which are require approval by the directorate‘s decision.
9. Account receivables
The receivables of the company mainly include accounts receivable, long-term receivables and other
receivables. If there is objective evidence in the date of balance sheet of assets and liabilities indicating such
financial assets depreciated, the company shall confirm the depreciation losses according to the difference
between the book value and the estimated current value of future cash flow.
(1)Account receivable belong t individual significance and individually assessed for impairment
The receivable with single amount exceeding RMB 5 million (including
Judgment criteria or amount RMB 5 million) shall be confirmed as the receivable with significant
standard of material specific single amount. The receivable with single amount exceeding RMB 3
amount or amount criteria million (including RMB 3 million) shall be confirmed as the receivable
with significant single amount.
Provision method with The depreciation loss test is conducted separately, and if an objective
evidence indicates depreciation of the receivable, the company shall
material specific amount and confirm the depreciation losses and appropriate the depreciation provisions
provision of specific bad debt according to the difference by which the current value of future cash flow
is lower than its book value.
preparation
(2)Appropriation of receivables of provisions for doubtful accounts by groups
The receivables with significant single amount but not depreciated after separate
Determining the basis of groups testing, and The receivables with non-significant single amount but not depreciated
after separate testing.
Appropriation method for provisions
Appropriate provisions for doubtful accounts according to aging analysis method
for doubtful accounts by groups
Appropriate provisions for doubtful accounts according to aging analysis method in a group, as follows:
Appropriation Ration of
Appropriation Ratio of
Account Age Other
Receivables (%)
Receivables (%)
Within 1 year(including 1 year) 2 2
1-2 years 5 5
2-3years 30 30
3-4 years 60 60
Over 4 years 100 100
(3)Account receivable with non-material specific amount but specific bad debt preparation
42
黄石东贝电器股份有限公司 2014 年半年度报告
Reason for bad debt
Difficultly recoverable receivables estimated
provision
The depreciation loss test is conducted separately, and if an objective
Method of evidence indicates depreciation of the receivable, the company shall
confirm the depreciation losses and appropriate the depreciation
appropriation of bad
provisions according to the difference by which the current value of
debt provision future cash flow is lower than its book value.
10. Inventories
（1）Category of inventories
Inventories refer to finished goods or merchandise the company holds for sale during its daily operation,
work in process, materials consumed during the process of production or services etc. It mainly include raw
materials, materials for cyclic use, materials for consigned processing, packaging materials, low-value
consumables, work in process, self-made unfinished goods, finished goods (merchandise inventories) etc.
（2）Accounting for outgoing inventories
Raw materials are accounted for at planned cost, which can be adjusted to be actual cost by reference to the
difference between the monthly actual cost carry forward of materials and the planned cost; work in process
and merchandise inventory are accounted for at actual cost while outgoing merchandise inventory are
accounted for by use of the weighted average method.
（3）Basis for determining net realizable value of inventory and method of appropriating provisions for
inventories write-down
In the date of balance sheet of assets and liabilities, the provision for depreciation of inventories shall be
evaluated and appropriated as per the lower between the cost and net realizable value of individual
inventory; but for the inventories big quantity and varieties and lower unit price, appropriated as per the
type of the inventory.
The basis for deciding net realizable value: ① the net realizable value of the finished goods is the balance of
estimated selling price reducing by the related tax; ② for the material held for production, if the net
realizable value of the finished goods produced by such material is higher than cost, the material shall still
be measured as per cost; if the dropping of the price of material indicates the net realizable value of finished
goods is below cost, the net realizable value shall be decided by the balance of estimated selling price
reducing by the estimated cost, estimated selling expenses and related tax. ③ there is any material to be sold,
the net realizable value is the price selling in the market.
（4）Inventories system
The company implements the perpetual inventories system.
(5) Amortization of low cost and short lived articles and packing
Packaging materials, low-value consumables and other materials for cyclic use are amortized by use of the
one-off amortization method.
11.Long-term equity investments
1.Determining initial investment cost
(1)The initial investment cost of a long-term equity investment acquired through business combination
under common control is determined at the book value of the acquired equity while in the case of business
combination not under common control the combination costs is taken as the initial investment cost;
(2)The initial investment cost of a long-term equity investment acquired by cash is the paid purchasing
price;
(3)For long-term equity investments acquired by issuing equity securities, the initial investment cost is the
fair value of the issued equity securities;
(4)The initial investment cost of long-term equity investments contributed by investors is the value set by
the relevant contract or agreement;
(5)For investments acquired through exchange of non-monetary assets or debt restructuring, the initial
investment cost is determined in accordance with relevant rules and regulations.
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黄石东贝电器股份有限公司 2014 年半年度报告
2.Subsequent measurement and recognition of profit and loss
Long-term equity investments are subsequently measured by use of equity method or cost method. For
long-term equity investments accounted for by equity method, the company recognizes the investment
income according to its entitlement to the net realized profit or loss of the invested business and adjusts the
investments. It calculates its share when it is announced to distribute profits or cash dividends, and reduces
the book value of the long-term equity investments accordingly.
By cost method the book value of long-term equity investments remain unchanged except for additional
commitments or withdrawal of investments. The company recognizes the investment income by calculating
its share of the announced distributable profits or cash dividends.
The company uses the equity method to account for the long-term equity investments that are under
common control or over which the company has significant influence while using the cost method for the
others.
3.Basis for determining common control or significant influence over invested business
①The basis for determining common control over an invested business is that there must be the two or
more co-operating parties jointly making decisions on the financial and operating policies of the invested
business according to the contract or agreement between or among them.
②When the company owns over 20% up to 50% of the voting capital of an invested business, its influence
over the invested business is significant. Or if the ownership is less 20% but one of the following conditions
is satisfied, the company still has significant influence:
①. There are representative(s) appointed in the board of directors or similar power organizations;
②. It is involved in the policy formulation of the invested business
③. There are managerial staff being sent to the invested business
④. It is dependent on the technologies or technical documents of the invested business
⑤. There are other conditions proved the company has significant influence over the invested business.
4. Impairment testing method and appropriation of impairment provisions
As of the balance sheet date, the company should review whether there are signs indicating impairment of
long-term equity investments. If such impairing signs do exist, an impairment test should be conducted to
recognize the recoverable amount and impairment provisions should be set aside according to the book
value or the recoverable amount, whichever is lower. Subsequent reversal of an impairment loss is
prohibited once it is appropriated.
The impairment testing method: a test should be conducted to measure the recoverable amount of the
long-term equity investments indicated of impairment.
The recoverable amount is the higher of the net fair value for sale of a long-term equity investment and the
present value of estimated prospective cash flows.
The net fair value for sale of a long-term equity investment is, if there is a price set by an agreement of fair
transaction, the agreement price less relevant taxes while if there is no such an agreement of fair transaction
but active markets of similar assets exist, its net fair value is the market price less relevant taxes. Or if it is
impossible to reliably estimate the net fair value for sale, the recoverable amount of such a long-term equity
investment is its estimated prospective cash flows during the held period and by the time of final disposal.
12.Investing real estate
（1）Types and measurement model of investing real estate
There are several types of the company‘s investing real estate: land use rights for lease, buildings for lease
and land use rights held for transfer after value being added.
The investing real estate of the company is measured at cost initially and then by use of the cost model
subsequently.
（2）Accounting by use of cost model
The lease-out buildings among the investing real estate of the company is depreciated by use of the life
averaging method. The detailed accounting policy is the same as that for fixed assets.
Depreciation period follows：
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黄石东贝电器股份有限公司 2014 年半年度报告
Residual value rate Annual depreciation rate
Classification Lifetime（years）
（%） (%)
House and Building 40 5 2.375
The investing real estate of the company is measured at cost initially and then by use of the cost model
subsequently.
As of the balance sheet date,The company checks the investment real estate if there exits the evidence of
depreciation occurring possibly; if there is evidence indicating the depreciation, the company shall conduct
the depreciation test to confirm the reclaimable amount, and the provision for depreciation shall be
appropriated as per the lower between the book value and the recoverable amount, also the loss from
depreciation, once being appropriated, not be returned in the accounting periods afterwards.
13.Fixed assets
（1）Recognition conditions of fixed assets
Fixed assets refer to as the tangible assets possessed for producing goods, providing labor, lease or
management with more than one fisical year of service life. Fixed assets are recognized when satisfying the
following conditions:
(1)The economic benefits related to such fixed assets can flow into the enterprise;
（2）The cost of such fixed assets can be measured reliably.
（2）Category and depreciation method of fixed assets
The fixed assets of the company are divided into property, plant and equipment, electronic devices, vehicles
etc, which are depreciated by use of the life averaging method. According to the nature and use of different
types of the fixed assets, the company determines their useful life and estimated residual value. It reviews
the useful life, residual value and depreciation methods at the end of each year and makes adjustments
accordingly if there are differences from original estimated figures. Except for the fixed assets that have
been terminated for depreciation but remained in use and the lands that are separately priced and accounted
for, the company appropriates depreciation for all fixed assets.
Residual value rate Annual depreciation rate
Classification Lifetime（years）
（%） (%)
Houses and buildings 10-20 5 9.5-4.75
Machinery equipments 5-10 5 19-9.5
Transportation equipments 4-8 5 23.75-11.88
Other equipments 3-5 5 31.67－19.00
（3）Impairment testing method and provision appropriation method of fixed assets
As of the balance sheet date, the company reviews whether there are signs indicating impairment of fixed
assets. When such signs do exist, impairment tests should be conducted to recognize the recoverable amount
of fixed assets, and impairment provisions are set aside by reference to the lower of the book value and the
recoverable amount. Once an impairment loss is appropriated, it is prohibited for reversal in subsequent
accounting periods.
The reclaimable amount of the fixed assets shall be decided based on the higher between the net amount of
the fair value of the assets deducted by the disposal expense and the current value of the assets in future
cash flow. The net amount of the fair value of the fixed assets deducted by the disposal expense, shall be
decided based on the price in sales agreement deducted by the disposal expense directly attributed to the
assets if there is the price in sales agreement for fair transaction. If there is no sales agreement for fair
45
黄石东贝电器股份有限公司 2014 年半年度报告
transaction but active market for the assets or transaction price of similar assets of same industry, the
company shall make the market price reduced by disposal expense to decide the amount.
（4）Determining basis and valuation method for a fixed asset under a financing lease
The basis for determining a fixed asset under a financing lease is that all the risks and rewards related to the
ownership of the fixed asset have been transferred substantively in the lease. Specifically, it must satisfy one
or more of the following conditions: ① By expiration of the lease, the ownership of the asset under the
lease has been transferred to the lessee; ② the lessee has the option to purchase the asset under the lease and
the purchasing price set is far lower than the asset‘s fair value at the time the option being exercised, which
is why it needs to be reasonably sure that the lessee would exercise such an option from the very
commencement date of the lease; ③ even if the ownership of the asset is not transferred, the lease term
covers most of the asset‘ useful life; ④ the present value of the minimum payment the lessee makes on the
lease commencement date is almost equal to the asset‘s fair value of the lease commencement date; ⑤ the
asset under the lease is so special that only the lessee can use it without large renovation being carried out.
A fixed asset under a financing lease is valued initially at the asset‘s fair value or the present value of the
minimum lease payment as of the lease commencement date, whichever is lower. It is also the book entry
value of the asset.
For subsequent valuation of a fixed asset under a financing lease, depreciation and impairment provisions
are appropriated in accordance with the depreciation policy the same as that for self-owned fixed assets.
14. Construction in progress
（1）Category of construction in progress
There are two categories of construction in progress in the company: self-operated construction and
subcontracted-out construction.
（2）Criteria and timing for conversion of construction in progress into fixed assets
The company converts its construction in progress into fixed assets when the construction is competed for
the intended use. To be eligible for the intended use, the construction in progress must satisfy one of the
following conditions:
①The physical construction (including installation) of the fixed asset has been completed or completed
substantially;
②Trial production or operation has been run and proved that the asset can normally operate or steadily
produce qualified products, or the trial operation results show that the asset can normally work or be open
for business;
③Expenses on the constructed fixed asset seldom or almost no longer arise;
④The purchased or constructed fixed asset has met or substantially matched the design or contract
requirements.
（3）Impairment testing method and provision appropriation for construction in progress
On the balance sheet date the company reviews whether there are signs indicating impairment of its
construction in progress. If such signs do exist, it runs an impairment test to recognize the recoverable
amount of fixed assets and set aside impairment provisions by reference to the book value or the
recoverable amount, whichever is lower. Reversal of an impairment loss is prohibited in subsequent
accounting periods once it is appropriated.
The construction in progress indicated of impairment should be tested to find out the recoverable amount.
The recoverable amount of construction in progress is determined by the asset‘s fair value after deduction of
its disposing expenses or its estimated prospective cash flows, whichever is lower.
15. Borrowing costs
（1）Recognition criteria for borrowing costs capitalization
The borrowing costs of the company, which can be directly attributed to acquisition, construction or
production of capitalization eligible assets, are capitalized and counted in the cost of the relevant asset while
other borrowing costs are recognized as expenses when incurred and counted in the profit and loss of a
current accounting period. Capitalization eligible assets refer to fixed assets, investing real estate, inventory
etc., which need to attain the intended use or sale through acquisition, construction or production activities
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黄石东贝电器股份有限公司 2014 年半年度报告
over a long period.
（2）Calculation of capitalized amount
A capitalization period refers to the period from the commencement to the termination of the capitalization
of borrowing costs, which excludes the suspension period of the borrowing costs capitalization.
A capitalization suspension period means that the acquisition, construction or production is abnormally
interrupted for consecutive three months so the capitalization of the borrowing costs should be suspended.
Calculation of a capitalized amount: ① for a special borrowing, it is determined at the interest expenses of
the special borrowing arising in a current period less the interest income from the credit line balance being
deposited in a bank or the income from temporary investment of the balance; ② for the assets using
general borrowings, the capitalized amount is determined by the weighted average excess of the assets‘
accumulated expenses over their special borrowings multiplying the capitalization rate of the used general
borrowings while the capitalization rate is determined by calculating the weighted average interest rate of
general borrowings; ③ for a borrowing at a discount or premium, the actual interest rate method is used to
determine amortization for each accounting period and adjust interest amount of each period.
The actual interest rate method is a method of calculating unextinguished discounts or premiums or interest
expenses at the actual interest rate. The actual interest rate is the rate used to derive the present book value
of the borrowing from discounting of the prospective cash flows arising throughout the expected duration of
the borrowing.
16. .Intangible assets
（1）Measurement of intangible assets
The company measures its intangible assets initially at cost. A purchased intangible asset has the actual paid
price and relevant expenses as its actual cost. For the intangible assets contributed by the investors, the
actual cost is the value set by the investment contract or agreement but if the contract or agreement value is
not fair, the actual cost is determined at fair value. The cost of the intangible assets developed in house is
the total expenses incurred to attain the intended use.
Subsequent measurements are performed on intangible assets in the following ways: ① for an intangible
asset with a finite useful life, the company adopts the straight-line method for its amortization, and the
useful life and the amortization method are reviewed at the end of each fiscal year and will be adjusted
accordingly if they are different from the original estimates. ② Intangible assets with an indefinite useful
life are not amortized but a review will be conducted so if there are concrete evidences indicating that the
useful life is finite, such assets will have an estimated useful life and be amortized by use of the straight-line
method.
（2）Estimation of a finite useful life of intangible assets
For the intangible assets with limited service life, the company generally considers the following factors
when estimating the service life: ① the general life cycle of the products produced by use of the asset and
the available information of the service life of similar assets; ② the estimation of current situation of stage
such as technology, craft, and future development trend; ③ the market demands for the products or the
services produced or offered by the asset; ④ an anticipative action taken by current or potential competitors;
⑤ the anticipative maintenance expenditure that is in order to maintain the capacity of economic benefits
produced by the asset, and the ability to pay for the related expenses expected by the company; ⑥ the
relevant regulations of laws or similar constraints in the period of the asset control, such as the special
privilege of use period and the lease term, etc.; ⑦ the associations with the service life of other assets held
by the company.
（3）Recognition of an indefinite useful life
The company is unable to foresee the period that an intangible asset can bring the company economic
benefits, or the useful life of the asset is uncertain. Such an asset can be recognized as an intangible asset
with an indefinite useful life.
Recognition of an indefinite useful life is based on: ① contractual rights or other legal rights but there are
no contractual or legal provisions limiting the service life; ② the fact that it is impossible to determine the
economic life of the intangible asset even when the conditions of the same industry or relevant experts‘
opinions are taken into account.
At the end of each year, the indefinite useful life of an intangible asset is reviewed upward from the
47
黄石东贝电器股份有限公司 2014 年半年度报告
level of the department that uses the asset, which conducts a basic review, to assess whether there are
changes in the basis for recognizing an indefinite useful life.
（4）Impairment testing method and provision appropriation of intangible assets
On the balance sheet date the company reviews whether there are signs indicating impairment of an
intangible asset. If such signs do exist, it will conduct an impairment test to recognize the recoverable
amount of the asset and appropriate an impairment provision by reference to the book value or the
recoverable amount, whichever is lower. Once appropriated, an impairment loss is prohibited from reversal
in following accounting periods.
An intangible asset that there are signs indicating impairment should be tested to find out its recoverable
amount.
The recoverable amount of an intangible asset is the higher of the fair value after deduction of its disposing
expenses and the present value of its estimated prospective cash flows.
（5）Criteria for the research phase and the development phase of an in-house R & D project and
capitalization criteria for expenses incurred during the development phase
The expenses of an in-house R & D project during the research phase are counted in the profit and loss of a
current accounting period when incurred.
The expenses of such a project incurred during the development phase are recognized as an intangible asset
when satisfying the following conditions:
a. There is technical feasibility in the asset in question being completed for use or sale;
b. There is intention of completing and using or selling the asset.
c. The intangible asset is deemed economically profitable when it is proven that there is a market for the
products produced by such an asset or the asset itself, or that the asset is useful if it is utilized in-house;
d. There are sufficient technical, financial and other support for completion of the development of the
intangible asset and capability of using or selling it;
e. The expenses attributable to the development phase of the asset can be measured reliably.
The criteria for dividing the research phase and the development phase of an in-house R & D project are:
the survey phase for obtaining new technology and knowledge, which is planned and exploratory, is deemed
the research phase; and the phase that before commercial production or use, research results and other
knowledge are applied to a specific program or design to produce new or substantially improved materials,
devices, products etc. is deemed the development phase, which is purposeful and probable for
achievements.
17. Long-term expenses to be amortized
The long-term expenses to be amortized of the company refer to all the expenses paid but the benefiting
period of which is over one year (not including one year). They are mainly parking fee, housing decoration
expenses etc. The long-term expenses to be amortized are amortized over the benefiting period of expense
items. For the long-term expenses to be amortized that cannot be benefiting in future accounting periods, the
amortized value of the expense items are all counted in the profit and loss of a current accounting period.
18. Estimated liabilities
（1）Recognition criteria for estimated liabilities
Estimated liabilities refer to realistic, reliably measurable obligations undertaken by the company, the
fulfillment of which probably cause outflow of economic benefits.
（2）Methodology of measuring estimated liabilities
An estimated liability is measured initially at best estimate of the expenses necessary for fulfillment of a
realistic obligation. If there is a continuous range of the necessary expenses, whereby the likelihood of
possible outcomes is the same, the best estimate can be the median while if there are multiple items
involved, the best estimate can be calculated and determined by reference to all the possible outcomes and
the relevant likelihood.
As of the balance sheet date the book value of the estimated liabilities should be reviewed so that if there are
concrete evidences indicating that the book value cannot genuinely reflect the present best estimate, the
book value should be adjusted by reference to the best estimate.
19.Share-based payments and equity instruments
1. Share-based payments refer to transactions in which the company grants equity instruments or assume the
liabilities that are determined based on equity instruments in order to obtain services by employees or other
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黄石东贝电器股份有限公司 2014 年半年度报告
parties. The payments are settled in two ways: by equity and by cash
2. Equity settled payments for services by employees are measured at the fair value of the equity
instruments granted to the employees. Those granted to obtain services by other parties are measured at the
service fair value of the date that the services are received, and if the fair value of the services by other
parties cannot be measured reliably, the payments will be measured at the equity instrument fair value of the
service receiving date.
3. The fair value of equity instruments can be determined as below:
(1) If there are active markets, the fair value is determined based on the quoted price in active markets;
(2) If there are no active markets, reasonable valuation techniques can be adopted to determine the fair
value, e.g., by reference to the prices used by well-informed and willing parties in their recent market
transactions, the present fair value of other financial instruments substantially in the same nature, the
discounted cash flows technique, option pricing model etc.
4. For those settled by cash, the fair value is measured by reference to the fair value of the undertaken
liabilities, which is calculated and determined based on shares and other equity instruments.
5. The best estimate of exercisable equity instruments can be determined by reference to subsequent
information, e.g., the latest information on change in the number of employees who can exercise their
options.
20.Earning
（1） Sales of Goods
Goods sales revenues are recognized according to the contractual or agreement price received or receivable
from the purchasing party when the Goods the company sells satisfy the following conditions: ① the main
risks and rewards of the ownership of Goods have been transferred to the purchasing party; ② the company
neither reserves the continuing control right related to the ownership nor exert effective control over the
sold merchandise; ③ the received amount can be measured reliably; ④ the relevant economic benefits are
probable to flow into the company; ⑤ and the relevant costs incurred or to be incurred can be measured
reliably.
If a contract or agreement adopts deferred payments, it actually has a financing nature. Therefore, the sales
revenue is determined according to the fair value of the receivable contractual or agreement payments.
（2）Labor services
If the result of the labor service provided can be estimated reliably in the date of balance sheet of assets and
liabilities, the company shall adopt the completion percentage method to confirm the income from rendering
of service and determine the completion progress at the percentage of the incurred costs in the estimated
total costs.
If the result of the labor service provided cannot be estimated reliably in the date of balance sheet of assets
and liabilities, the company shall dispose separately according to the following situation: ① the service cost
which has occurred is expected to get compensation, the company shall confirm the income from rendering
of service as per the service cost which has already occurred, and carry forward the service cost as per the
same amount; ② if the service cost which has already occurred is expected not to get compensation, the
company shall attribute the service cost which has already occurred into the profit and loss of current period,
and not confirm the labor service.
（3）Alienation of asset use rights
The company recognizes the revenues from alienation of asset use rights when the economic benefits
related to the alienation can flow in and the received amount can be measured reliably.
21. Governmental subsidies
（1）Types of governmental subsidies
There are mainly two types of governmental subsidies: one related to assets and the other related to income
The government grants of long-term assets acquired by the company and used for purchase and construction
or formed by other methods are the government grants related to assets, and the government grants used to
compensate for the expenses or loss already occurred or appeared in the future period are the income-related
government grants. Also, the government grants that acquired by the company either used to purchase the
equipment and other long-term assets, or used to compensate for labor cost, purchasing service fee,
management charge and other expenses, are belong to the government grants related to assets and incomes,
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黄石东贝电器股份有限公司 2014 年半年度报告
which should be divided into two parts of the assets-related one and the income-related one, and should be
accounted separately. If unable to distinguish, the whole government grants shall be classed as the grants
related to assets.
（2）Accounting treatment for governmental subsidies
Assets related governmental subsidies are recognized as deferred income and counted in the profit and loss
of a current period after being averagely allocated over the useful life of the related assets. Governmental
subsidies measured in a nominal amount are directly counted in a current period. Income related
governmental subsidies are treated as follows: ① The subsidies that are used to compensate relevant
expenses or losses of subsequent periods are recognized as deferred income and counted in the profit and
loss of a current period when the company recognizing the relevant expenses. ② Those used to compensate
incurred relevant expenses or losses are counted in the profit and loss of a current period.
22.Deferred income tax assets and deferred income tax liabilities
The company recognizes its deferred income tax assets and deferred income tax liabilities as below:
（1）Based on the difference between the book value of assets and liabilities and the taxable base (for items
not recognized as assets or liabilities while their taxable base can be determined in accordance with the
provisions of the tax law, the taxable base is the difference), the company calculates and recognizes deferred
income tax assets or liabilities at the tax rate applicable when it is time to recover the assets or liquidate the
liabilities.
（2）Deferred income tax assets are recognized to the limit of taxable income, which can be achieved
probably and be utilized to offset deductible temporary differences. If there are concrete evidences
indicating that sufficient taxable income can be achieved probably in a future period to offset deductible
temporary differences as of the balance sheet date, then the company will recognize the deferred income tax
asset that were not recognized in a previous period. If not, the company will write down the book value of
deferred income tax assets.
（3）For the deductible temporary differences related to the investments on the subsidiaries and associate
enterprises, deferred income tax liabilities are recognized unless the company can control the reversal time
of the temporary differences and such differences probably will not be reversed in the foreseeable future.
Deferred income tax assets will be recognized for the deductible temporary differences related to the
investments on the subsidiaries and associate enterprises when such differences can be reversed probably in
the foreseeable future and it is probable to achieve taxable income in the future, which can be utilized to
offset the deductible temporary differences.
23.Lease
If all the risks and rewards related to the ownership of a leased asset are transferred to the lessee according
to the terms and conditions of the lease, such a lease is a finance lease while others are operating leases.
24. Held-for-sale assets
（1）Recognition criteria for held-for-sale assets
The following conditions must be satisfied simultaneously: resolution has been made by the company on
disposal of the asset in question; the company has signed an irrevocable transfer agreement with the
transferee; and transfer of such an asset will be completed in a year.
（2）Accounting treatment for held-for-sale assets
For a held-for-sale fixed asset, its estimated residual value should be adjusted to reflect the amount after the
disposing expenses being deducted from its fair value but the adjusted residual value should not exceed the
original asset book value at the time that the held-for-sale conditions are satisfied. The excess of the original
book value over the estimated residual value after adjustment will be recognized as asset impairment loss
and counted in the profit and loss of a current period.
Other held-for-sale noncurrent assets are treated as above, which include individual assets and disposed
groups. A disposed group refers to a group of assets as a whole sold or disposed in other ways.
25.Accounting policies, accounting estimates and early errors
(1) Description for main change of accounting policies
The company doesn‘t have any change in accounting policies in this period.
(2) Description for main change of accounting estimates
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黄石东贝电器股份有限公司 2014 年半年度报告
Description for no change of accounting estimates
26.The earlier correction for accounting errors
The company doesn‘t have any earlier correction for accounting errors in this period.
III. Taxes
(1) Tax type and Tax Ratio
Type Tax basis Tax Ratio
13% of sales amounts are belong to the domestic sales
revenue and 17% is the VAT of total output, and the
VAT implementation of ―exemption, withholding and 13%、17%
drawback‖ is for the export sales.
Should be accounted and paid according to 5% of taxable
Business tax 5%
income.
Tax for city maintenance Should be accounted and paid according to 7% of the
7%
and construction: payable current taxes.
Should be accounted and paid according to 3% of payable
Fees for education: 3%
current taxes.
Should be accounted and paid according of payable income
Enterprise income tax 15%、25%
tax.
(2) Tax incentives
1. In 2011, the company has been examined and recognized as the hi-tech enterprise by Hubei Provincial
Hi-tech Enterprise Recognition and Management Committee, with the validity of three years, and 15% of
income tax accounted for the enterprise in this period.
2. Huangshi Dongbei Electromechanical Group Solar Energy Co., Ltd. is subsidiary of the Company, is
enterprise engaged in civil welfare. According to the Circular of Tax Preference Policy for Promoting
Employment of the Disabled issued by Ministry of Finance and State Taxation Administration (Cai
Shui (2007) No.92), the company enjoyed the preferential policy of refund of value added tax within
limit when levied and deduction of additional corporate income tax. In 2011, the company has been
examined and recognized as the hi-tech enterprise by Hubei Provincial Hi-tech Enterprise Recognition
and Management Committee, with the validity of three years, and 15% of income tax accounted for the
enterprise in this period.
3. In 2011, the Controlling Subsidiary Wuhu Abaur Mechanical & Electrical Co.,Ltd has been
examined and recognized as the hi-tech enterprise by Hubei Provincial Hi-tech Enterprise Recognition
and Management Committee, with the validity of three years, and 15% of income tax accounted for the
enterprise in this period.
4. In 2013, the Controlling Subsidiary Huangshi Dongbei Founding Co., Ltd. has been examined and
recognized as the hi-tech enterprise by Hubei Provincial Hi-tech Enterprise Recognition and
Management Committee, with the validity of three years, and 15% of income tax accounted for the
enterprise in this period.
IV. Enterprises Consolidated and Consolidated Financial statement
The company includes the subsidiaries that it has actual control over and the entities of special purposes in
its consolidated financial statements.
The consolidated financial statements of the company are complied in accordance with the requirements of
51
黄石东贝电器股份有限公司 2014 年半年度报告
The Enterprise Accounting Principle No. 33 – Consolidated Financial Statements and the relevant
provisions, and significant internal transactions within the consolidation scope have been eliminated in
consolidation. The shareholders‘ equity of the subsidiaries, which are not attributable to the parent company,
is listed separately as minority shareholders‘ equity under the shareholders‘ equity in the consolidated
financial statement.
If a subsidiary adopts different accounting policies or periods, necessary adjustment should be made on the
financial statements of the subsidiary according to the company‘s accounting policies or periods when
consolidated financial statements are compiled.
For a subsidiary acquired through business combination not under common control, when consolidated
financial statements are compiled, adjustment should be made on one individual financial statement based
on the fair value of its net identifiable assets at the purchase date . As to a subsidiary acquired through
business combination under common control, it is deemed that the combination has occurred at the
beginning of the combination year so that its assets, liabilities, operating results and cash flows should be
included in consolidated financial statements from the beginning of the combination year.
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黄石东贝电器股份有限公司 2014 年半年度报告
1.Subsidiaries
(1)Subsidiaries acquired through establishment or investment
Balance of other
Whether
Regis Registe projects for net Voting power ratio
Full name of Type of Closing actual Shareholding merge the Equity of minority
tered Nature of red Scope of business investment of (%)
subsidiary subsidiary investment ratio (%) statements or shareholder
place business capital subsidiary
not
essentially
Wuhu Wuh Manufa 50,00 Production and 33,339,800. 75.00 75.00 Yes 115,504,872.49
Abaur u cturing 0,000. sales of 00
Electrom Limited 00
echanical Compan Compressor and
Co., Ltd. y Compressor
Machine
Dongbei Wuh Services 8,000, Mechanical engi 8,000,000.0 100.00 100.00 Yes
(Wuhan) an 000.0 neering, energy 0
Technolo 0 technology rese
gy arch and consult
Innovatio Limited ing services; ref
n Co., Compan rigeration equip
Ltd. y ment, electric m
echanical, solar
energy manufac
turing
Dongbei Shuj Manufa 200,0 Production and 140,000,000 100 100.00 Yes
electrome iang cturing 00,00 sales of .00
chanical Limited 0.00
( Jiangsu) Compan Compressor and
Co., Ltd. y Compressor
Machine
(2)Subsidiaries acquired through business combination under common control
Full name of Type of Registe Registered Scope of business Closing actual Balance of Shareholding Voting Whether Equity of minority
53
黄石东贝电器股份有限公司 2014 年半年度报告
subsidiary subsidiary red Natur capital investment other projects ratio (%) power ratio merge the shareholder
place e of for net (%) statements or
busin investment of not
ess subsidiary
essentially
Huangshi Limited 24,861,162. Production and sales 22,485,202. 83.03 83.03 Yes 10,894,035.96
Company Huang Man 85 of solar water heaters 90
Dongbei
shi ufac
Electromech
anical turin
Group Solar g
Energy Co.,
Ltd.
Limited 32,814,078. 20,000,000. 51.28 51.28 Yes 41,710,861.73
Huangshi Huang Man
Company 23 00
Dongbei Casting of small and
shi ufac
Foundry medium casts
turin
Co., Ltd.
g
Dongbei Limited BVI Com USD1,000,0 Sales of Refrigeration 6,632,400.0 100.00 100.00 Yes
International Company mer 00.00 Compressor, 0
Trade Co., ce Refrigeration
Ltd. Equipment and Parts ,
Photoelectric products
and solar water
heater ,etc.
54
黄石东贝电器股份有限公司 2014 年半年度报告
2.Newly included in consolidation scope during the period.
Name Net assets as at period-end Net profit for the period
Dongbei (Wuhan) Technology Innovation 8,001,190.35 1,190.35
Co., Ltd.
Dongbei electromechanical ( Jiangsu) Co., 140,001,339.46 1,339.46
Ltd.
V．Notes to items of consolidated financial statements
1. Monetary capital
(1)Classification of Monetary capital
Balance at period end Balance at period beginning
Items Exchange Amount equivalent to Exchange Amount
Foreign RMB equivalent to
rates Foreign amount rates
amount RMB
Cash： —— —— 4,775.87 —— —— 2,194.95
Including：RMB —— —— 4,775.87 —— —— 2,168.09
Euro —— 8.3946 —— 3.19 8.4189 26.86
257,966,90
—— —— 331,738,058.18 —— ——
Bank deposit 4.97
225,715,53
Including：RMB —— —— 301,187,383.74 —— ——
3.03
22,850,058.
USD 3,465,255.61 6.1528 21,321,024.71 3,747,815.81 6.0969
21
9,401,313.7
Euro 1,099,474.63 8.3946 9,229,649.73 1,116,691.46 8.4189
3
Other monetary 270,142,93
—— —— 260,008,766.30 —— ——
5.67
capital
270,142,83
Including：RMB —— —— ——
4.03
USD —— —— —— 16.67 6.0969 101.64
528,112,03
—— 591,751,600.35 —— ——
Total 5.59
(2)Other Monetary capital
Items Balance at period end Balance at period beginning
Paper margin 198,485,766.30 201,126,415.67
Domestic Margin credit 0.00 7,000,000.00
Loan Margin 61,523,000.00 62,016,520.00
Total 260,008,766.30 270,142,935.67
Note 1: the company provides RMB 61,523,000.00 pledge to the Xingye bank Wuhan Branch and made
USD10 million dollar in short-term borrowing
2. Bills receivables
(1) Classification of Bills receivables
55
黄石东贝电器股份有限公司 2014 年半年度报告
Items Balance at period end Balance at period beginning
Bank acceptance 693,431,747.60 670,346,572.09
Trade acceptance 82,703,938.59 39,734,859.89
LC 3,070,000.00 23,220,000.00
Total 779,205,686.19 733,301,431.98
Notes ： The third subsidiary of Huangshi Dongbei Founding Co., Ltd. has acquired RMB 9.305 million of
domestic L/C by pledging the book value of RMB 9.305 million of commercial acceptance bills to China
Everbright Bank Co., Ltd.
(2) As of June 30, 2014,Top 5 notes receivable of largest pledged amounts as follows
Issuing
Issuing Unit No Maturity Date Amount
Date
Guangdong Homa Electric Appliance Co., Ltd. 2013-12-31 2014-7-2 9,235,340.09
Hubei Midea 2014-2-28 2014-9-3 8,767,265.30
Qingdao Haidayuan Procurement Sevices Co.,
2014-2-28 2014-9-3 7,285,350.01
Ltd.
Qingdao Haidayuan Procurement Sevices Co.,
2014-2-28 2014-9-3 6,970,385.70
Ltd.
Qingdao Haidayuan Procurement Sevices Co.,
2014-2-28 2014-9-3 6,915,600.63
Ltd.
(3) As of June 30, 2014,Top 5 of largest amounts of notes receivable with endorsement but not matured as
follows
Maturity Amoun
Issuing Unit No Issuing Date
Date t
13,123,920.0
Guangdong Homa Electric Appliance Co., Ltd. 2014-3-20 2014-9-20
0
12,772,488.0
Guangdong Homa Electric Appliance Co., Ltd. 2014-6-19 2014-12-19
0
10,970,520.0
Guangdong Homa Electric Appliance Co., Ltd. 2014-4-22 2014-10-22
0
10,000,000.0
Shanghai Suning Yunshang Sell Co., Ltd. 2014-4-24 2014-10-24
0
10,000,000.0
Aucma Co., Ltd. 2014-6-18 2014-12-18
0
3.Account receivables
(1) Classification of account receivables
Balance at period end
Bad debt reserve
Book balance
Type
Amount Propor
Proportion(
%)
Amount tion
(%)
1. Receivables with major individual amount and bad debt
provision provided individually
39,191,316.8 3.09
2. Receivables provided bad debt provision in groups 1,252,449,599.30 100.00
8
Group 1（Account age Analysis ） 1,252,449,599.30 100.00 39,191,316.8 3.09
56
黄石东贝电器股份有限公司 2014 年半年度报告
Balance at period end
Bad debt reserve
Book balance
Type
Amount Propor
Proportion(
%)
Amount tion
(%)
8
39,191,316.8 3.09
Subtotal of group 1,252,449,599.30 100.00
8
3. Account receivable with minor individual amount but bad debt
provision is provided
39,191,316.8 3.09
Total 1,252,449,599.30 100.00
8
Balance at period beginning
Bad debt reserve
Book balance
Type
Amount Proporti
Proportion
(%) Amount on
(%)
1. Receivables with major individual amount and bad debt
provision provided individually
1,032,996,621. 33,125,288.0 3.21
2. Receivables provided bad debt provision in groups 100.00
91 8
1,032,996,621. 33,125,288.0 3.21
Group 1（Account age Analysis ） 100.00
91 8
1,032,996,621. 33,125,288.0 3.21
Subtotal of group 100.00
91 8
3. Account receivable with minor individual amount but bad debt
provision is provided
1,032,996,621. 33,125,288.0
Total 100.00 3.21
91 8
Notes：The accounts receivable with significant individual amount and appropriation of provisions for
doubtful accounts individually, refers to the receivables of single amount beyond RMB 5 million (including
RMB 5 million), if there is no depreciation after depreciation test made, the company shall appropriate
provisions for doubtful accounts according to account age.
In groups, the receivables status of provisions for doubtful accounts shall be appropriated according to aging
analysis method.
Amount at period end Amount at period beginning
Account Bad debt
age Proportion Bad debt reserve Proportion
Book balance (%)
Book balance (%)
reserve
Within 1 year 1,234,052,409.66 98.53 25,528,743.23 1,012,887,093.47 98.05 20,041,789.07
1-2 years 2,185,879.32 0.17 269,496.83 5,389,936.74 0.53 269,496.83
2-3 years 3,630,897.76 0.29 1,089,269.33 2,577,709.32 0.25 773,312.80
3-4 years 691,512.68 0.06 414,907.61 252,982.50 0.02 151,789.50
4-5 years -
Over 5 years 11,888,899.88 0.95 11,888,899.88 11,888,899.88 1.15 11,888,899.88
Total 1,252,449,599.30 100.00 39,191,316.88 1,032,996,621.91 100.00 33,125,288.08
57
黄石东贝电器股份有限公司 2014 年半年度报告
Notes 1：For the accounts of shareholder unit holding the company of 5% (including 5%) or more of voting
power shares in the accounts receivable, the details please see the notes ―6. The affiliated party and the
related transaction, 6. The accounts receivable and payable of the affiliated party‖;
Notes2：The details of receivables from affiliated party please see the notes ―6. The affiliated party and the
related transaction, 6. The accounts receivable and payable of the affiliated party‖.
Notes 3：The details of receivables from Pledge at the end of the period please see the Note 5 of the notes of
the important items in consolidated Financial Statements, note 16 Short-term loan.
(2)The top 5 debtors of accounts receivable
Name Relationship with the Proportion to
Company Amount Aging total accounts
receivable (%)
Client 1 Non-related parties 266,060,973.63 Within 1 year 21.24
Client 2 Non-related parties 97,748,384.00 Within 1 year 7.80
Client 3 Non-related parties 64,110,448.60 Within 1 year 5.12
Client 4 Non-related parties 45,844,660.52 Within 1 year 3.66
Client 5 Non-related parties 42,510,193.99 Within 1 year 3.39
Total —— 516,274,660.74 —— 41.21
(3)Account receivable include the following foreign currency balances
Year-end balance Year-beginning balance
Foreign
Currency of Name Exchange
Original currency rate RMB equivalent Original currency Exchange rate RMB equivalent
USD 27,319,838.85 6.1528 168,093,504.48 19,844,176.28 6.0969 120,987,958.36
Euro 2,016,013.06 8.3946 16,923,623.23 3,185,679.81 8.4189 26,819,919.75
Total —— —— 185,017,127.71 —— —— 147,807,878.11
4. Prepayments
(1) Analysis of Aging
Amount at period end Amount at period beginning
Age Amount Amount
Proportion (%) Proportion (%)
Within 1 year 118,694,475.20 87.04 110,027,505.50 86.36
1-2 years 6,891,939.69 5.05 8,257,489.69 6.48
2-3 years 3,377,021.35 2.48 3,496,665.00 2.74
Over 3 years 7,403,981.91 5.43 5,628,313.35 4.42
Total 136,367,418.15 100.00 127,409,973.54 100
(2) As of June 30, 2014,The top 5 companies according to the Prepayment
Name Relationsh Amount Proportion% Time Reasons for
ip with the pending
Company account
58
黄石东贝电器股份有限公司 2014 年半年度报告
Name Relationsh Amount Proportion% Time Reasons for
ip with the pending
Company account
Under
Non-relate
Client 1 28,963,828.02 21.24 Within 1 year implementati
d parties
on
Under
Related
Client 2 18,275,409.14 13.40 Within 1 year implementati
parties
on
Under
Non-relate
Client 3 15,883,849.11 11.65 Within 1 year implementati
d parties
on
Under
Non-relate
Client 4 11,531,346.33 8.46 Within 1 year implementati
d parties
on
Under
Non-relate
Client 5 7,461,716.45 5.47 Within 1 year implementati
d parties
on
Total —— 82,116,149.05 60.22
Notes 1：For the accounts of shareholder unit holding the company of 5% (including 5%) or more of voting
power shares in the Prepayment, the details please see the notes ―6. The affiliated party and the related
transaction, 6. The accounts receivable and payable of the affiliated party‖;
Notes 2：The details of receivables from affiliated party please see the notes ―6. The affiliated party and the
related transaction, 6. The accounts receivable and payable of the affiliated party‖.
5.Other receivables
(1) Classification of other receivables
Amount at period end
Bad debt reserve
Book balance
Type Proport
ion of
Amount Proportion(%
) Amount provisi
on
(%)
1. Other receivables with major individual amount and bad debt
provision provided individually
2. Other receivables provided bad debt provision in groups 17,177,587.08 100.00% 1,193,692.64 6.95
Group 1（Account age Analysis ） 17,177,587.08 100.00% 1,193,692.64 6.95
Subtotal of group 17,177,587.08 100.00% 1,193,692.64 6.95
3. Other account receivable with minor individual amount but
- - -
bad debt provision is provided
Total 17,177,587.08 100.00% 1,193,692.64 6.95
59
黄石东贝电器股份有限公司 2014 年半年度报告
Balance at period beginning
Bad debt reserve
Book balance
Type Proporti
Amount on of
Proportion(
%) Amount provisio
n
(%)
1. Other receivables with major individual amount and bad debt
provision provided individually
2. Other receivables provided bad debt provision in groups 11,488,095.30 100 1,193,692.64 10.39
Group 1（Account age Analysis ） 11,488,095.30 100 1,193,692.64 10.39
Subtotal of group 11,488,095.30 100 1,193,692.64 10.39
3. Other account receivable with minor individual amount but bad
debt provision is provided
Total 11,488,095.30 100 1,193,692.64 10.39
Notes1：The Other receivable with significant individual amount and appropriation of provisions for
doubtful accounts individually, refers to the receivables of single amount beyond RMB 3 million (including
RMB 3 million), if there is no depreciation after depreciation test made, the company shall appropriate
provisions for doubtful accounts according to account age.
Notes 2: There is no amount due from shareholders with more than 5%(including 5%) of the voting shares
of the Company in prepayment.
In groups, other receivables status of provisions for doubtful accounts shall be appropriated according to
aging analysis method.
Amount at period end Amount at period beginning
Account age Bad debt
Proportion( Bad debt reserve Proportion(
Book balance Book balance %)
reserve
%)
Within 1 year 16,224,439.57 94.45 1,033,546.72 9,173,615.52 79.85 182,503.98
1-2 years 767,593.78 4.47 38,379.69 728,286.55 6.34 36,414.33
2-3 years 81,925.56 0.48 24,577.67 777,455.57 6.77 233,236.67
3-4 years 16,099.02 0.09 9,659.41 168,000.00 1.46 100,800.00
4-5 years 58,993.00 0.34 58,993.00 614,737.66 5.35 614,737.66
Over 5 years 28,536.15 0.17 28,536.15 26,000.00 0.23 26,000.00
Total 17,177,587.08 100 1,193,692.64 11,488,095.30 100 1,193,692.64
(2) The nature or contents for bigger amounts of other receivables
The nature or contents of other
Unit Name Amount
receivables
Shanghai Yuandong 6,428,570.00 Lease deposit
Total 6,428,570.00 ——
(3) The top five companies according to the other receivable
60
黄石东贝电器股份有限公司 2014 年半年度报告
Name Relationship with the Amount Proportion%
Time
Company
Client 1 Non-related parties 6,428,570.00 Within 1 year 37.42
Client 2 Non-related parties 4,044,601.01 Within 1 year 23.55
Client 3 Non-related parties 581,483.60 Within 1 year 3.39
Client 4 Non-related parties 488,650.00 Over 1 year 2.84
Client 5 Non-related parties 271,245.91 Over 1 year 1.58
Total —— 11,814,550.52 —— 68.78
6. Inventories
Balance in year-end Balance in year-begin
Items Bad debt Book Value Bad debt Book Value
Book balance Book balance
provision provision
Raw materials 68,916,958.53 68,916,958.53 111,035,587.47 111,035,587.47
150,807,221.1
129,638,056.22 129,638,056.22 150,807,221.14
Work-in-process 4
Merchandise 267,141,984.7
193,450,514.08 193,450,514.08 267,141,984.76
6
inventory
528,984,793.3
Total 392,005,528.83 392,005,528.83 528,984,793.37
7
61
黄石东贝电器股份有限公司 2014 年半年度报告
7. Investment to the affiliated enterprise
Total business
Regis
Legal Proportion of Total closing Total closing income amounts Net profits of the
tratio Nature of Registered Proportion of Amount at
Name Type represent shareheld liabilities net assets
n business capital voting power(%) year-end
ative (%) amounts amounts of the current current period
place
period
Huangshi Aibo Limited Huan Zhu RMB 10
Real estate 30.00 30.00 248,502,723.10 242,911,672.31 5,591,050.79 -709,492.24
Property Co.,Ltd. Company gshi Jinming million
Hubei Jinling
Liu
Precision Limited Huan RMB 20
Chuanso Agriculture 30.00 30.00 62,680,065.88 45,005,366.22 17,589,896.77 3,071,787.59 -87,272.73
Agriculture Co., Company gshi million
ng
Ltd.
8.Long-term Equity investment
Percentage of the
Beginning Ending Percentage of the owned
Accounting Investm voting shares of Impairment Cash dividends
Invested business balance of Changes balance of the shares of the invested
method ent cost ghe invested provision this period
the year period business (%)
business(%)
Huangshi Aibo Property 3,000,00 1,562,888.
Equity method -212,847.67 1,350,040.33 30 30
0.00 00
Co.,Ltd.
Hubei Jinling Precision 6,000,00 4,006,311.
Equity method -26,181.82 3,980,129.55 30 30
0.00 37
Agriculture Co., Ltd.
Huangshi Dongbei 10,000.0
Cost method 10,000.00 10,000.00 0.48 0.48
Refrigerating Co., Ltd. 0
-239,029.4
5,579,1 9 Error!
Total —— —— 5,340,169.88 —— ——
99.37 Not
assigned
62
黄石东贝电器股份有限公司 2014 年半年度报告
9. Investment real estate
Balance in Increase at this Decrease at this Balance in
Items year-begin period period year-end
6,934,630.00
I. Total of original value 6,934,630.00
6,934,630.00
Houses and buildings 6,934,630.00
II.Total of Accumulative depreciation and
3,057,750.08
Accumulative amortization 427,068.88 3,484,818.96
Houses and buildings 3,057,750.08
427,068.88 3,484,818.96
III.Reserve for impairment of investment real
estate
Houses and buildings
3,876,879.92
IV.Book value of investment real estate 3,449,811.04
3,876,879.92
Houses and buildings 3,449,811.04
Notes：The depreciation of this period was RMB427,068.88 .
10. Fixed assets
Balance in Increase at this Decrease at this
Balance in year-end
Items year-begin period period
I.Total of Original price 1,346,373,334.02 39,640,547.87 13,483,258.64 1,372,530,623.25
Houses and buildings 422,619,627.83 16,135,471.60 36,800.00 438,718,299.43
Machinery and equipment 875,180,560.30 22,002,933.33 12,801,415.68 884,382,077.95
Transportation equipment 24,174,000.22 670,392.56 236,891.31 24,607,501.47
Other 24,399,145.67 831,750.38 408,151.65 24,822,744.40
II. Total of accumulated
depreciation 529,831,321.36 49,677,050.37 10,477,503.13 569,030,868.60
Houses and buildings 102,784,009.85 9,881,149.84 - 112,665,159.69
Machinery and equipment 390,598,593.80 36,583,427.49 9,867,097.13 417,314,924.16
Transportation equipment 18,308,967.33 1,271,266.42 228,862.90 19,351,370.85
Other 18,139,750.38 1,941,206.62 381,543.10 19,699,413.90
III.Total Net book value of Fixed
assets 816,542,012.66 - - 803,499,754.65
Houses and buildings 319,835,617.98 - - 326,053,139.74
Machinery and equipment 484,581,966.50 - - 467,067,153.79
Transportation equipment 5,865,032.89 - - 5,256,130.62
Other 6,259,395.29 - - 5,123,330.50
IV. Total of Reserve for
impairment - - - -
Houses and buildings - - - -
63
黄石东贝电器股份有限公司 2014 年半年度报告
Balance in Increase at this Decrease at this
Balance in year-end
Items year-begin period period
Machinery and equipment - - - -
Transportation equipment - - - -
Other - - - -
V. Total book value of fixed assets 816,542,012.66 - - 803,499,754.65
Houses and buildings 319,835,617.98 - - 326,053,139.74
Machinery and equipment 484,581,966.50 - - 458,290,484.48
Transportation equipment 5,865,032.89 - - 14,032,799.93
Other 6,259,395.29 - - 5,123,330.50
Notes 1：In this period was there RMB 49,677,050.37 set aside as depreciations, and the original price of the
fixed assets converted from a construction in process was RMB 4,184,600.39.
Notes 2:This period of fixed assets mortgage please see the notes 5,Consolidated financial statements of
important notes 25, Long-term loan .
11. Construction in progress
Balance in year-end Balance in year-begin
Items Bad debt Book Value Bad debt Book Value
Book balance Book balance
provision provision
Equipment installation 1,662,405.73 1,662,405.73 1,508,012.75 1,508,012.75
The Phase III project of
Huangjianshan 24,487,053.02 24,487,053.02 6,904,171.58 6,904,171.58
Construction funds of Daz
hi Luoqiao new plant 17,504,939.18 17,504,939.18 5,065,000.00 5,065,000.00
ERP software installation
project 745,143.86 745,143.86 554,074.68 554,074.68
441,000.00
Construction of new
factory 441,000.00
Total 44,840,541.79 44,840,541.79 14,031,259.01 - 14,031,259.01
Notes : In this period the constructions in process worth RMB 4,184,600.39 were converted into fixed
assets.
12..Intangible assets
Amount at period Increase in current Decrease in current Amount at period
Items beginning period period end
86,261,386.55 86,261,386.55
I.Total of original value
82,307,510.92 82,307,510.92
Land use right
Software 2,153,875.63 2,153,875.63
Non Patent technology 1,800,000.00 1,800,000.00
II.Total accumulative amortized 10,520,706.41 773,405.24 11,294,111.65
9,226,582.27 668,895.22 9,895,477.49
Land use right
64
黄石东贝电器股份有限公司 2014 年半年度报告
Amount at period Increase in current Decrease in current Amount at period
Items beginning period period end
Software 934,124.14 104,510.02 1,038,634.16
Non Patent technology 360,000.00 360,000.00
III.Total book value of
75,740,680.14 74,967,274.90
intangible assets
73,080,928.65 72,412,033.43
Land use right
Software 1,219,751.49 1,115,241.47
Non Patent technology 1,440,000.00 1,440,000.00
IV. Total impairment provision -
-
Land use right
Software -
Non Patent technology -
V. Book value Total of
75,740,680.14 74,967,274.90
intangible assets
73,080,928.65 72,412,033.43
Land use right
Software 1,219,751.49 1,115,241.47
Non Patent technology 1,440,000.00 1,440,000.00
Notes 1：The amortization of this period was RMB 773,405.24.
Notes 2. This period of intangible assets mortgage please see the notes V,Consolidated financial statements
of important notes 24, Non-current liability due in 1 year .
13.Long-term deferred expenses
Items Increase in Decrease in Amount at period
Amount at period current period current period
beginning end
Green fee 1,031,854.03 250,000.00 141,316.20 1,140,537.83
Dorm beds, tables and chairs
etc - 169,588.00 5,652.94 163,935.06
Total 1,031,854.03 419,588.00 146,969.14 1,304,472.89
14. Deferred income tax assets
(1)Recognized deferred income tax assets
Items Amount at period end Amount at period beginning
Deferred income tax assets
Provision for bad debt 6,006,631.24 5,096,726.92
Estimated losses on warranty (refund, repair and
1,802,721.27 1,802,721.27
replace)
Subtotal 7,809,352.51 6,899,448.19
(2) Temporary Differences corresponding to the Assets or Liabilities that incurred such Differences
65
黄石东贝电器股份有限公司 2014 年半年度报告
Items Amount
Bad debt provision for accounts receivable 38,853,266.77
Bad debt provision for other receivables 1,193,692.64
Estimated losses on warranty (refund, repair and replace) 12,018,141.81
Subtotal 52,065,101.22
15. Reserve for impairment of assets
Decrease for the current
Balance at period
Provision at Amount at
Items period Switch
this period Switch period end
beginning cancellatio
back
n
I. Provision for bad debts 34,318,980.72 6,066,028.80 40,385,009.52
34,318,980.72 6,066,028.80 40,385,009.52
Total
16. Assets under Restriction
Ending balance
Item of the period Restriction reason
(RMB‘0000)
I. Assets in use for guarantee
House ,Buildings and land 18,043.25 Loan pledges
II.Other assets under restriction
Due to issued bank acceptance and loan ple
Bills receivables 8,213.43
dges
Bank Deposit 6,152.30 Loan pledges
Total 32,408.98
17. Short-term loan
Condition Amount at period end Amount at period beginning
Impawn loan 70,885,000.00 244,041,070.00
Mortgage loan
Guaranteed loan 618,166,374.00 390,787,230.00
Credit loan 40,000,000.00 47,678,300.00
Total 729,051,374.00 682,506,600.00
Notes 1：As Huangshi Dongbei Electromechanical Group Co., Ltd. offered guarantee, the company obtained
the RMB 82 million short-term loans from Agricultural Bank of China, Shihuiyao Branch; the company
obtained the USD 18 million short-term loans from China Construction Bank , Tieshan Branch ; the
company obtained the USD 10 million short-term loans from China Merchants Bank, Huangshi Branch; the
company obtained the USD 11.50 million short-term loans from ICBC, Huangshi Tieshan Branch; As
Huangshi Dongbei Electromechanical Group Co., Ltd.and Wuhu Abaur Mechanical & Electrical Co.,Ltd.
offered guarantee, the company obtained the USD 6 million short-term loans from Bank of
66
黄石东贝电器股份有限公司 2014 年半年度报告
Communications ,Huangshi Tieshan Branch; Agricultural Bank of China, Shihuiyao Branch, The company
offered RMB 61.523 million deposit in current period to the Xingye Bank Co., Ltd. Wuhan Branch to get
USD 10 million short-term loans;
Notes 2: ：As the Company offered guarantee to the second subsidiary of Wuhu Abur Mechanical &
Electrical Co.,Ltd., obtained RMB 20 million short-term loans from Huishang Bank,Wuhu Development
Zone Branch; obtained RMB 50 million short-term loans from Wuhu Yangzi Nural Commercial
Bank,; obtained RMB 20 million and RMB 20 million short-term loan from Xingye Bank, Wuhu
Branch;CITIC Bank, obtained RMB 30 million short-term loans from CITIC Bank; obtained RMB 30 mill
ion short-term loans from Bank of Communications ,Wuhu Development Zone Branch;
obtained USD 5.63 million short-term loans from Bank of Communications ,Wuhu Development Zone
Branch;obtained USD1.5 million short-term loan from Bank of China ,Wuhu Development Area Branch;
obtained USD 1.4 million short-term loans from China Merchants Bank,Wuhu Development Zone Branch.
Notes 4:As the Company offered guarantee to the Third Subsidiary
of Huangshi Dongbei Founry Co., Ltd.obtained RMB 10 million shoart-term loans from SPD Bank.Wuhan
Branch; obtained RMB 8 million short-term loans from Bank of China,Huangshi Tieshan
Branch, obtained RMB 20 million short-term loans from Hubei Bank, Huangshi Xinxialu Branch;
Notes 5: As the Company offered guarantee to the second subsidiary of Huangshi Dongbei
Electromechanical Group Solar Energy Co., Ltd., obtained RMB 3 million short-term loans from SPD Ba
nk, Wuhan Lingjiaohu Branch,obtained RMB 12 million short-term loan from China Everbright Bank,
Wuhan Development Zone Branch.obtained RMB 3 million short-term loans from Xingye
Bank, Huangshi Branch;
Notes 6:: The company offered guarantee to third subsidiary of Huangshi Dongbei Founry Co., Ltd
offered RMB 9.305 million commercial acceptance bills as pledge to obtain RMB 9.305 million short-term
loans from China Everbright Bank, Wuhan Development Zone Branch.
18. Bill payable
Amount at period end Amount at period beginning
Items
Bank acceptance 870,709,166.62 736,273,961.21
Total 870,709,166.62 736,273,961.21
Notes 1：The ending balance of Bill payable for this period included RMB 870,709,166.62 due next
accounting period.
19. Account payable
Amount at period end Amount at period beginning
Items Amount(RMB) Proportion Amount(RMB)
Proportion (%)
(%)
Within 1 year 847,896,591.10 95.73 864,202,989.66 91.91
1-2 years 17,794,950.76 2.01 28,509,025.77 3.03
2-3 years 16,351,764.69 1.85 43,933,561.41 4.67
Over 3 years 3,648,791.52 0.41 3,626,796.18 0.39
Total 885,692,098.07 100.00 940,272,373.02 100
Notes 1：For the accounts of shareholder unit holding the company of 5% (including 5%) or more of voting
power shares in the accounts receivable, the details please see the notes ―6. The affiliated party and the
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黄石东贝电器股份有限公司 2014 年半年度报告
related transaction, 6. The accounts receivable and payable of the affiliated party‖;
Notes2：The closing balance of account payable is more than the beginning balance, the details please see
the notes ―VI. The affiliated party and the related transaction,6. The accounts receivable and payable of the
affiliated party‖;
Note 3: the situation of significant account payable aged over one year at the end of period
20. Received in advance
Amount at period end Amount at period beginning
Items Amount(RMB) Proportion(% Amount(RMB)
Proportion(%)
)
Within 1 year 12,913,004.93 86.20 13,814,294.02 93.58
1-2 years 1,762,709.18 11.77 372,962.09 2.53
2-3 years 151,213.29 1.01 422,902.06 2.86
Over 3 years 152,595.89 1.02 152,595.89 1.03
Total 14,979,523.29 100.00 14,762,754.06 100
Notes1：There were no debts payable to the shareholders of the Company holding more than 5%
(including 5%) of the total shares of the Company.
Notes 2:The situation of significant Received in advance aged over one year at the end of period
21. Employee salary payable
Increase in current Decrease in current
Amount at period
Amount at period period period
Items beginning end
1.wage,bonuds,subsidy 23,663,661.14 118,884,891.00 133,841,690.65 8,706,861.49
2.Employee welfare 3251678.95 8,606,290.70 11,857,969.65 -
3.Security insurance - 18,161,438.85 18,161,438.85 -
- -
Of Which: medical insurance 4,979,415.02 4,979,415.02
- -
Basic old-age insurance premiums 11,151,005.38 11,151,005.38
Unemployment insurance - -
941,193.81 941,193.81
Work injury insurance - -
867,386.41 867,386.41
Maternity insurance - -
222,438.23 222,438.23
IV. Public reserves for housing - 4,651,828.66 4,651,828.66 -
V. Union funds and staff education
15,193,558.46 14,618,175.17
fee 324,419.80 899,803.09
VI. Compensation paid for
- -
termination of labor relationship 65,964.00 65,964.00
VII.Other - 1,758,933.19 1,758,933.19 -
Total 42,108,898.55 152,453,766.20 171,237,628.09 23,325,036.66
Notes：Temporarily, the company hasn‘t made the payment of RMB 87068.6149 million of annual
performance funds in 2014, which is expected to be paid at the end of June, 2015.
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黄石东贝电器股份有限公司 2014 年半年度报告
22. Taxes payable
Amount at period end Amount at period beginning
Type
VAT 4,007,449.51 -14,510,513.93
Business tax 88,628.33 149,557.24
Urban maintenance and
1,653,186.73 2,399,055.14
construction tax
Enterprise income tax 25,579,316.65 33,126,241.98
House tax 1,640,739.91 2,887,832.00
Land use tax 862,019.60 679,208.62
Individual income tax 503,454.01 579,628.91
Educational surtax 411,225.80 917,270.83
Local education development
571,561.81 162,188.52
fund
222,205.65 168,434.46
Embankment expenses
Stamp tax 588,275.87 2,861,854.40
Water comstruction Fund 90,034.51 89,283.24
Total 36,218,098.38 29,510,041.41
Notes ：.The standards for main taxes and tax rates are described in "Note III of Financial Statements.
Taxes"
23. Dividend payable
Balance in year-end Balance in year-begin
Name
Hongkang Changxin Group Co., Ltd. 10,009,121.12 10,009,121.12
Total 10,009,121.12 10,009,121.12
24.Other payable
Balance in year-end Balance in year-begin
Items Amount(RMB) Proportion(% Amount(RMB) Proportion
) (%)
Within 1 year 206,003,347.10 98.59 181,466,985.11 95.48
1-2 years 545,295.32 0.26 2,885,550.67 1.52
2-3 years 506,926.16 0.24 673,629.16 0.35
Over 3 years 1,891,283.11 0.91 5,035,316.56 2.65
Total 208,946,851.69 100.00 190,061,481.50 100.00
Notes 1：Notes：For the accounts of shareholder unit holding the company of 5% (including 5%) or more of
voting power shares in the accounts receivable,
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黄石东贝电器股份有限公司 2014 年半年度报告
Notes 2：The situation of significant other payable aged over one year at the end of period
25.Non-current liability due in 1 year
(1)Type
Balance in year-end Balance in year-begin
Type
120,000,000.00 0.00
Long-term borrowings due within one year
Total 120,000,000.00 0.00
(2) Long-term borrowings due within one year
Balance in year-end Balance in year-begin
Condition
120,000,000.00 0.00
Mortgage loan
Guaranteed loan 0.00 0.00
Total 120,000,000.00 0.00
Notes . Wuhu Abaur Mechanical & Electrical Co.,Ltd., the holding subsidiary of the company, has made the
mortgage of land and buildings for the company, at the price of RMB 180.4325 million to gain the
long-term loans of RMB 120 million from Wuhan branch of China Import and Export Bank.
26. Long-term loan
Balance in year-end Balance in year-begin
Condition
1,440,000.00 1,440,000.00
Entrusted loan
0 120,000,000.00
Mortgage loan
Total 1,440,000.00 121,440,000.00
Notes ：The commissioned loan RMB 1.44 million was the financial working fund allocated by Huangshi
Financial Bureau to Huangshi Dongbei Foundry Co., Ltd.;
27..Long-term payable
Cost
Increase Decrease
Items for the current for the current
Balance in Balance in
year-begin period period year-end
The Special Technological
Renovation Fund for
5,350,000.00 4,569,791.67 133,750.00 4,436,041.67
Refrigeration Compressor
Industrialization
Importance Special funds 4,500,000.00 3,843,750.00 112,500.00 3,731,250.00
Compressor industrialization
12,000,000.00 10,666,666.67 5,000,000.00 300,000.00 15,366,666.67
project
Guarantee housing construction f
unds in Huangshi City 690,000.00 657,225.00 16,387.50 640,837.50
Construction funds of Daye 1,046,600.00 1,046,600.00 26,165.00 1,020,435.00
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黄石东贝电器股份有限公司 2014 年半年度报告
Cost
Increase Decrease
Items for the current for the current
Balance in Balance in
year-begin period period year-end
Luoqiao new plant
Yuandong Finance Lease 60,709,734.00 12,328,009.08 48,381,724.92
Total 23,586,600.00 20,784,033.34 65,709,734.00 12,900,424.08 73,593,343.26
28. Share capital
Before this change Increase/decrease this time (+ , - ) After this change
Bon
Issuing Transferr
Propor us Othe Subt Propor
Amount of new ed from Amount
tion shar r otal tion
share reserves
es
1. Shares with
120,000,000.0 120,000,000.0
conditional 51.06 51.06
0 0
subscription
1.State-owned share
2.State-owned legal 117,600,000.0 117,600,000.0
50.04 50.04
person shares 0 0
3.Other domestic
2,400,000.00 1.02 2,400,000.00 1.02
shares
Including ：
Non-state owned
domestic legal person 2,400,000.00 1.02 2,400,000.00 1.02
shares
Domestic nature
person shares
4.Foreign
shareholding
Including ：
Overseas legal
person shares
Foreign nature
person shares
5. Executive shares
IIShares with
115,000,000.0 115,000,000.0
unconditional 48.94 48.94
0 0
subscription
1.Common shares in
RMB
2.Foreign shares in 115,000,000.0 115,000,000.0
48.94 48.94
domestic market 0 0
3.Foregn shares in
overseas market
4.Other
III.Total of shares 235,000,000.00 100.00 235,000,000.00 100.00
29. Capital reserve
Amount at period Increase in current Decrease in Amount at period
Items beginning period current period end
Share capital premium 180,001,555.45 180,001,555.45
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黄石东贝电器股份有限公司 2014 年半年度报告
Amount at period Increase in current Decrease in Amount at period
Items beginning period current period end
Other capital surplus 10,110,280.81 10,110,280.81
Total 190,111,836.26 190,111,836.26
30. Surplus reserve
Amount at period Increase in current Decrease in current
Amount at period end
Items beginning period period
37,944,193.35 37,944,193.35
Statutory surplus reserve
Total 37,944,193.35 37,944,193.35
31. Retained profits
Items Amount Extraction or distribution
of the ratio
Before adjustment: Retained profit at the end of last year 434,569,646.73
Adjustment: Retained profit at the beginning of current year
After Adjustment: Retained profit at the beginning of current
434,569,646.73
year
Add：Net profit attributable to the owners of parent company 24,962,203.45
Less：Withdrawing statutory surplus public reserve 10％
Distribution of common shares dividend
Retained profit at the end of current year 459,531,850.18
32. Operating income and operating cost
(1)Operating income
Same period of the
Items
Report period previous year
Main business income 2,103,244,040.13 2,340,899,421.14
Other business income 166,306,161.72 49,557,491.24
Total 2,269,550,201.85 2,390,456,912.38
(2)Operating cost
Same period of the
Items
Report period previous year
Main business cost 1,869,005,723.14 2,100,259,108.91
Other business cost 157,586,787.08 43,503,422.96
Total 2,026,592,510.22 2,143,762,531.87
(3) Main operating （Industry）
Report period Same period of the previous year
Name Income of Main Cost of Main Income of Main Cost of Main
operation operation operation operation
2,340,899,421.1 2,100,259,108.9
Manufacturing 2,103,244,040.13 1,869,005,723.14
4 1
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黄石东贝电器股份有限公司 2014 年半年度报告
2,340,899,421.1 2,100,259,108.9
Total 2,103,244,040.13 1,869,005,723.14
4 1
(4) Main operating （Product）
Report period Same period of the previous year
Name Income of Main Cost of Main Income of Main Cost of Main
operation operation operation operation
2,153,678,392.8 1,926,342,090.4
Compressor 1,869,221,845.53 1,666,757,247.17
9 7
Auto casting 217,986,808.27 191, 071,508.18 172,465,976.40 163,052,412.74
Solar water heater 16,035,386.33 11,176,967.79 14,755,051.85 10,864,605.70
2,340,899,421.1 2,100,259,108.9
Total 2,103,244,040.13 1,869,005,723.14
4 1
(5) Main operating （Area）
Report period Same period of the previous year
Name Income of Main Cost of Main Income of Main Cost of Main
operation operation operation operation
1,816,762,628.2 1,605,668,916.6
Domestic sales
1,626,870,026.71 1,421,893,793.21 5 3
Foreign sales 476,374,013.42 447,111,929.93 524,136,792.89 494,590,192.28
2,340,899,421.1 2,100,259,108.9
Total 2,103,244,040.13 1,869,005,723.14
4 1
(6) The top five companies in the amount
Items Business income Proportion(%)
Client 1 227,402,541.56 15.42
Client 2 83,545,627.35 5.66
Client 3 54,795,255.21 3.72
Client 4 39,183,470.53 2.66
Client 5 36,333,499.14 2.46
Total 441,260,393.79 29.92
33.Business tax and subjoin
Same period of the previous
Items Standard
Report period year
Business tax 5% 215,081.42 5,719.09
Urban construction tax 7% 2,973,976.53 5,159,783.58
Education surcharge 3% 1,378,283.20 3,135,036.45
2% 2,132,565.03
Embankment expenses
Local education surcharge 2% 918,855.45
Water Construction Fund 0.08% 535,586.91
Total —— 8,154,348.54 8,300,539.12
34.Sales expenses
Accumulative total of current Accumulative total of same period
Items period（RMB） of the previous year(RMB）
Total 56,321,177.74 51,832,986.77
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黄石东贝电器股份有限公司 2014 年半年度报告
Accumulative total of current Accumulative total of same period
Items period（RMB） of the previous year(RMB）
The main details are as follows：
Transport costs 22,108,720.11 22,734,123.50
35..Administrative expenses
Accumulative total of current Accumulative total of same period
Items period（RMB） of the previous year(RMB）
Total 109,089,449.94 98,710,434.27
The main details are as follows：
Wage 33,892,135.24 30,654,221.56
Travel expenses 5,169,948.34 6,467,297.29
Depreciation 6,940,233.09 6,334,310.33
Repair fees 1,346,445.04 1,827,249.44
Taxes 5,631,444.69 5,186,275.04
Amortization 940,802.56 1,735,331.64
R& D expenses 36,364,147.57 21,478,714.79
36. Financial expenses
Accumulative total of current Accumulative total of same period
Items period（RMB） of the previous year(RMB）
Interest expenses 30,321,245.56 29,467,584.64
Less：Interest income 4,784,298.45 4,032,509.81
Less：Exchange gains 984,039.94 -6,482,455.53
Bills discounted rate 1,285,821.61
4,343,160.07
2,638,445.13
Handling charges 2,019,354.18
28,477,173.91
38,280,044.61
Total
37. Investment income
(1)Investment income
Accumulative total of same
Accumulative total of current
Items period of the previous
period（RMB）
year(RMB）
Long-term equity investment income under equity method -239,029.49 -189,848.03
Investment loss through disposal of long-term equity
investment
Total -239,029.49 -189,848.03
(2)Long term equity investment calculated via equity method：
Accumulative total of same
Accumulative total of
Name period of the previous Changed
current period（RMB）
year(RMB）
The income accounted by
Huangshi Aibo Property Co., Ltd. -212,847.67
-227,606.31 equity method
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黄石东贝电器股份有限公司 2014 年半年度报告
Accumulative total of same
Accumulative total of
Name period of the previous Changed
current period（RMB）
year(RMB）
Hubei Jinling Precision Agriculture The income accounted by
-26,181.82
Co., Ltd. 37,758.28 equity method
Total -239,029.49 -189,848.03
38. Asset impairment losses
Accumulative total of same
Items Accumulative total of current period
period of the previous year
6,066,028.80 7,707,480.84
1．Loss for bad debts
Total 6,066,028.80 7,707,480.84
39. Non-operating income
(1)Details of Non-operating income
Amount of current period Amount of previous period
Included in the Included in the
Items current amount current amount
Amount Amount
of non-operating of non-operating
gains & losses gains & losses
Total profits of 173,854.26 173,854.26
20,909.42 20,909.42
non-current assets disposal
Including ： Fixed asset 173,854.26 173,854.26
20,909.42 20,909.42
disposal profits
2,746,400.00 2,746,400.00
Government subsidy 11,867,429.51 10,791,270.00
3,534,271.11 3,534,271.11
Quality of compensation 2,835,432.52 2,835,432.52
Debt Recombination Profit - - - -
Total 14,723,771.45 6,454,525.37 6,454,525.37
13,647,611.94
(2) Details of Governmental subsidies
Items
Amount of current Amount of previous
Related to asset and profit
period period
Research fee of Aluminum high efficiency c
250,000.00
ompressor technology Related to profit
Subsidy for patent application by Huangshi
Intellectual Property Office 20,000.00 6,150.00
Related to profit
Imported Equipment discount payment 1,000,000.00 Related to profit
Government Technology Award 34,000.00 Related to profit
Financial subsidies revenue 9,825,020.00 1,160,000.00 Related to profit
Subsidy for patent application by Huangshi
Intellectual Property Office 150,000.00 Related to profit
Export base service platform project funding 546,250.00 546,250.00 Related to asset
Government Technology Award 1,076,159.51 Related to asset
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黄石东贝电器股份有限公司 2014 年半年度报告
Items
Amount of current Amount of previous
Related to asset and profit
period period
Financial subsidies revenue 11,867,429.51 2,746,400.00 Related to asset
The small and medium-sized enterprise deve
lopment special
Compressor production project amortization
VAT export rebates
Total
40. Non-operating expenses
Amount of current period Amount of previous period
Included in the Included in the
Items current amount of current amount of
Amount Amount
non-operating gains non-operating gains
& losses & losses
Losses total from disposal of
1,510,061.93 1,510,061.93 836,657.77 836,657.77
Non-current assets
Incl: loss of fixed assets
1,510,061.93 1,510,061.93 836,657.77 836,657.77
disposition
Other 665,326.29 665,326.29 741,976.56 741,976.56
Total 2,175,388.22 2,175,388.22 1,578,634.33 1,578,634.33
41. Income tax expenses
Items Accumulated amount in current Accumulated amount in
period previous year
(RMB) (RMB)
Income tax calculated according to tax law and
15,076,673.10 14,309,453.62
relevant provisions in a current period
Deferred income tax -909,904.32 -1,156,122.13
Total 14,166,768.78 13,153,331.49
42. Calculation of Basic earnings per share and Diluted earnings per share
Items Code Amount for this year Amount for last year
Net profit attributable to the Company‘s ordinary
P0 24,962,203.45 24,062,624.84
shareholders (Ⅰ)
Net profit attributable to the Company‘s ordinary
shareholders after deducting non-recurring gains P0 18,769,506.01 20,180,843.08
and losses(Ⅱ)
Amount of stock at the year-beginning S0 235,000,000.00 235,000,000.00
Increase of amount of stock owing to capital
reserve transferred to share capital or distribution S1
of stock dividend.
Increase of amount of stock owing to issue to
bonds newly or bonds issued to be transfer to Si
stock.
76
黄石东贝电器股份有限公司 2014 年半年度报告
Items Code Amount for this year Amount for last year
Decrease of amount stock due to purchase-back
Sj
stock. Etc.
Decrease of amount of stock in the reporting
Sk
period
Amount of months in the reporting period. M0 6 6
Accumulated months since the sec9ond month
Mi
when increase of amount of stock
Accumulated mounts since the second month
Mj
when decrease of amount of stock.
Average weighted amount of stock outstanding S 235,000,000.00 235,000,000.00
Basic eamings per share(Ⅰ) 0.106 0.102
Basic eamings per share(Ⅱ) 0.080 0.086
Net profit attributable to ordinary shareholders of
P1 24,962,203.45 24,062,624.84
parent company after adjustment(Ⅰ)
Net profit attributable to the company‘s ordinary
shareholders after deducting non-recurring gains P1 18,769,506.01 20,180,843.08
and losses after adjustment(Ⅱ)
Increase amount of average weighted of stock
owing to realization of warrants, stock options
and convertible bonds
Average weighted amount of stock outstanding
235,000,000.00 235,000,000.00
after consideration of diluted affect
Diluted earnings per share(Ⅰ) 0.106 0.102
Diluted earnings per share(Ⅱ) 0.080 0.086
(1)Basic earnings per share
Basic earnings per share= P0÷S
S= S0＋S1＋Si×Mi÷M0– Sj×Mj÷M0-Sk
Including：P0 Means net profit attributable to ordinary shareholders of parent company or net profit
attributable to the company‘s ordinary shareholders after deducting non-recurring gains and losses; S means
average weighted amount of common stock outstanding; S0 Means amount of common stock at the
year-beginning; S1Means increase of amount of common stock owing to capital reserve transferred to thsre
capital or distribution of stock dividend SiMeans increase of amount of common stock owing to issue of
bonds newly or bonds issued to be transfer to common stock； SjMeans decrease of amount of common
stock due to purchase-back common stock , etc; Sk Means decrease of amount of common stock in the
reporting period；Mi Means accumulated months since the second month when increase of amount of
common stock；Mj means accumulated months since the second month when decrease of amount of
common stock.Diluted earnings per share
(2)Diluted earnings per share
Diluted earnings per share=P1/(S0 ＋ S1 ＋ Si×Mi÷M0–Sj×Mj÷M0–Sk+ Increase amount of average
weighted of common stock owing to realization of warrants, stock options and convertible bonds.
Including，P1 Means net profit attributable to ordinary shareholders of the company ornetprofit attributable
to the company‘s ordinary shareholders after deducting non-recurring gains and losses after adjustment in
consideration of the effect of dilutive potential ordinary share, regulated by accounting criteria for
enterprises in china or other related regulations. when calculation of diluted earnings per share , all effects
of net profit attributable to the company‘s ordinary shareholders after deducting non-recurring gains and
losses after adjustment and average weighted amount of common stock outstanding, associated with dilutive
potential ordinary share, calculating of diluted earnings per share to the degree that in minimum of EPS,
According to their degree of descending order of diluted earnings per share referred.
43. Note Cash flow statement
1. Other cash received from business operation
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黄石东贝电器股份有限公司 2014 年半年度报告
Same period of the
Items Report period previous year
Correlation between units 7,115,221.38 4,162,393.07
Fine and the quality of compensation 4,237.70
Interest income 4,779,958.00 4,032,509.81
Disburse payment of water & electricity fees 0.00
Government Subsidy 15,245,020.00 2,746,400.00
Total 27,144,437.08 10,941,302.88
2.Other cash payable related to operating activities
Same period of the
Items Report period previous year
Office, Transportation and other expenses 33,575,105.00 32,701,266.11
Water & electricity 872,073.36 476,991.99
Technology Development expenses 22,044,789.82 21,478,714.79
Other unit between 3,631,816.86 3,678,907.59
Fine and the quality of compensation 89,584.19
Total 60,213,369.23 58,335,880.48
44. Supplement Information of Cash flow statement
(1)Supplement Information of Cash flow statement
Same period of the
Items Report period previous year
1. Net profit adjusted to cash flow from business operation
Net profit 32,992,097.66 29,215,781.88
Add：Provision from assets impairment 6,066,028.80 7,707,480.84
Fixed assets depreciation, Oil and gas depreciation,
50,104,119.25 51,062,918.05
Produce matter depreciation
Amortization of intangible assets 773,405.24 940,802.56
Amortization of long-term expenses to be amortized
The loss from the disposal of fixed assets, intangible
471,128.57 205,143.52
assets and other long-term assets
Loss from scrapping of fixed assets
Loss from fair change
Financial expenses 30,321,245.56 28,189,233.03
Investment loss 239,029.49 189,848.03
Decrease of deferred tax assets -909,904.32 -1,502,016.14
Increase of deferred tax Liabilities
Decrease of inventories 136,979,264.54 -69,222,885.21
78
黄石东贝电器股份有限公司 2014 年半年度报告
Same period of the
Items Report period previous year
Decrease of operating accounts receivable -362,148,306.17 -911,165,299.28
Increase of operating accounts payable 277,764,387.06 778,267,442.11
Other
Net cash flow generated from operating activities 172,652,495.68 -86,111,550.61
II.Investment and financing activities not involving cash
receipts and expenditure
Transferring debts to capital
Convertible corporate bond to mature within one year
Leasing fixed assets through financing
III ． The information of net increase of cash and cash
equivalent
Balance of cash at the End of the period 591,751,600.35 591,554,690.41
Less: Balance of cash at the beginning of the period 441,509,529.30 507,535,311.99
Add: Balance of cash equivalent at the end of the period
Less: Balance of cash equivalent at the beginning of the
period
Net increase of cash and cash equivalent 150,242,071.05 84,019,378.42
(2)Cash and cash equivalents
Same period of the
Items Report period previous year
591,751,600.35 591,554,690.42
I. Cash
4,775.87 2,930.01
Of which: Cash in stock
Bank savings could be used at any time 331,738,058.18 147,465,126.91
Other monetary capital could be used at any time 260,008,766.30 444,086,633.50
Usable money in Central Bank
Money saved in associated financial bodies
Money from associated financial bodies
II. Cash equivalents
Of which: bond investment which will due in three
months
III. Balance of cash and cash equivalents at the period
591,751,600.35 591,554,690.42
end
79
黄石东贝电器股份有限公司 2014 年半年度报告
VI.Related parties and Related transactions
1.Parent Company of the Company
The Parent
Regist The Parent Organizatio
Legal company of the The ultimate
Related ered Registrated capital company of the n
Name Type representa Nature company‘s controlling party of
parties addres （RMB‘0000） company‘s vote Code
tive shareholding the company
s ratio(%)
ratio(%)
Production and
sale of refrigerat
ion compressor,
refrigeration eq
Huangshi uipment and spa
Limite
Dongbei Parent re parts, refriger Huangshi Dongbei
d Huang Yang 24,184.00 50.04 50.04 73683763-9
Electromechanic Compa ation equipment Electromechanical
Comp
al Group Co., ny shi Baichang repair, develop Group Co., Ltd.
any
Ltd. ment and consul
ting of high-tech
nology
2.Subsidiary of the Company
Type Registrated The Parent Organizati
capital The Parent company of on
Type of of Registered Legal company of the
Ful name of subsidiary Nature the company‘s
subsidiary Enterp address representative （RMB‘000 company‘s vote Code
shareholding ratio(%)
rise 0） ratio(%)
Huangshi Dongbei
Limite
Production and sales
Electromechanical Controlling d Yang 2,486.12 83.03 83.03 70681674-9
Huangshi of solar energy water
subsidiary Comp Baichang
Group Solar Energy heater
any
Co., Ltd.
Production and sales
Limite
Wuhu Abaur of refrigeration
Controlling d Yang 5,000.00 75.00 75.00 78653614-7
Mechanical & Wuhu
subsidiary Comp Baichang compressor ,
Electrical Co., Ltd..
any
Compressor and
80
黄石东贝电器股份有限公司 2014 年半年度报告
Type Registrated The Parent Organizati
capital The Parent company of on
Type of of Registered Legal company of the
Ful name of subsidiary Nature the company‘s
subsidiary Enterp address representative （RMB‘000 company‘s vote Code
shareholding ratio(%)
rise 0） ratio(%)
Electrical Organ
casting
Casting of small and
Limite medium-sized cast
Huangshi Dongbei Controlling d 3,281.41 51.28 51.28 17841625-7
Huangshi Chen Baoping products, house
Foundry Co., Ltd. subsidiary Comp
any
renting and parking
service.
Sales of Refrigeration
Compressor,
Limite
Huangshi Dongbei Refrigeration
Controlling d USD100.00 100.00 100.00
International Trade BVI Wang Guhua Equipment and Parts ,
subsidiary Comp
Co., Ltd. Photoelectric products
any
and solar water
heater ,etc.
Mechanical engineeri
ng, energy technology
Limite research and consulti
Dongbei(Wuhan)
Controlling d Yang ng services; refrigerati 100 100 09084685-0
Technology Wuhan 800.00
subsidiary Comp Baichang on equipment, electric
Innovation Co., Ltd.
any mechanical, solar ene
rgy manufacturing
Production and sales
of refrigeration
Limite
Dongbei
Controlling d Yang compressor , 20,000.00 100 100 09409289-x
Electromechanical Shuqian
subsidiary Comp Baichang
(Jiangsu) Co., Ltd. Compressor and
any
Electrical Organ
casting
81
黄石东贝电器股份有限公司 2014 年半年度报告
3. Affiliated enterprise
Organization
Code
Name Relationship with the Company
Affiliated enterprise
Huangshi Aibo Property Co., Ltd. 55392272-6
Affiliated enterprise
Hubei Jinling Precision Agriculture Co., Ltd. 55392325-1
Notes ：The details of affiliated enterprise please see the Note 5 of the notes of the important items in
Consolidated Financial Statements, Note 7 Investment in Affiliated enterprise.
4. Other related parties of the Company
Name Relationship with the Company Organization Code
Also controlled by Huangshi
Dongbei Electromechanical 73911098-8
Huangshi Dongbei Refrigerating Co., Ltd. Group Co., Ltd.
One of the shareholders of the
parent Company Huangshi
Huangshi Aibo Technology Co., Ltd. 79327755-1
Dongbei Electromechanical
Group Co., Ltd.
Wuhu Farici Investment Co., Ltd. Other related party 69896511-0
Hubei Xingdong Investment Co., Ltd. Other related party 58548062-7
One of the shareholders of the
parent Company Huangshi
Jiangsu Luoke Electrical Co., Ltd. 13730779-1
Dongbei Electromechanical
Group Co., Ltd.
Related party controlled
Huangshi Chenxin Photoelectric Co., Ltd. 72578089-2
subsidiary Company
Related party controlled
Huangshi Dongbei New Energy Co., Ltd 58249444-1
subsidiary Company
Related party controlled
Huangshi Jinling Property Services Co., Ltd. 56831677-X
subsidiary Company
Related party controlled
Wuhu Abaur Real estate Co., Ltd. 55781543-4
subsidiary Company
Related party controlled
Hubei Jinling Fine agricultural Linyang Co., Ltd. 55971853-1
subsidiary Company
Related party controlled
Huangshi Jinbei Dairy Co., Ltd. 05002047-2
subsidiary Company
5.Related transactions
(1) Purchase goods and receiving services
Accumulated amount in current period
Type of related Pricing policy
Name of related party Methed
transactions and decision
Amount Proportion%
making
procedures
Huangshi Dongbei Refrigerating Co.,
Purchase Compressor parts 62,714,481.99 2.76 Market price
Ltd.
Huangshi Dongbei Refrigerating Co.,
Sales Compressor 6,177,475.15 0.27 Market price
Ltd.
82
黄石东贝电器股份有限公司 2014 年半年度报告
Huangshi Dongbei Electromechanical
Purchase Compressor parts 15,103,611.48 0.68 Market price
Group Co., Ltd.
Huangshi Aibo Technology Co., Ltd. Purchase Compressor parts 242,642,699.43 10.86 Market price
Huangshi Aibo Technology Co., Ltd. Sales Material 122,426,510.03 5.39 Market price
Jiangsu Luoke Electric Co., Ltd. Purchase Compressor parts 170,140,314.02 7.61 Market price
Jiangsu Luoke Electric Co., Ltd. Sales Compressor parts 48,260.30 0.00 Market price
Agricultural
Huangshi Jinbei Dairy Co., Ltd. Purchase 545,130.20 10.68 Market price
products
Agricultural
Hubei Jinling Fine Agriculture Co., Ltd. Purchase 82,062.00 1.61 Market price
products
Hubei Dongbei New Energy Co., Ltd. Purchase Photovotaic 4,957,265.03 0.00 Market price
(2) Related Leasing
Lease
Lease Basis for Lease revenue i
Type of asset commenc
Lesson Lessee terminati Lease income determining mpact on the co
lease ement
on date lease income mpany
date
Huangshi
Market price
Huangshi Dongbei Dongbei
October October when smaller
Electromechanical Electrical Land lease 18,000.00
2002 2052 contract
Group Co., Ltd. Appliance Co.,
being signed
Ltd.
Huangshi Market price
Huangshi Dongbei
Dongbei Non-fixe when Smaller
Electrical Appliance Co., House lease July 2011 1,193,537.08
Refrigerating d term contract
Ltd.
Co., Ltd. being signed
Market price
Huangshi Dongbei
Huangshi Jinbei June June when Smaller
Electrical Appliance Co., House lease 34,884.00
Dairy Co., Ltd. 2012 2015 contract
Ltd.
being signed
Market price
Huangshi Dongbei Huangshi
January Non-fixe when Smaller
Electrical Appliance Co., Dongbei New House lease 51,300.00
2013 d term contract
Ltd. Energy Co., Ltd
being signed
Huangshi Dongbei Huangshi Market price
Electromechanical Dongbei January Non-fixe when Smaller
House lease 972,000.00
Group Solar Energy Refrigerating 2009 d term contract
Co., Ltd. Co., Ltd. being signed
Market price
Wuhu Abaur Mechanical Jiangsu Luoke February February when Smaller
House lease 153,270.00
& Electrical Co.,Ltd. Electric Co., Ltd. 2011 2017 contract
being signed
Market price
Wuhu Abaur Mechanical Wuhu Abaur Prop June when Smaller
House lease July 2013 1,500.00
& Electrical Co.,Ltd. ertyCo., Ltd. 2015 contract
being signed
Market price
Wuhu Farici
Wuhu Abaur Mechanical June when Smaller
Investment Co., House lease July 2013 3,600.00
& Electrical Co.,Ltd. 2015 contract
Ltd.
being signed
Notes 1: In October 2002, the Company signed Land Use Right Lease Agreement with Dongbei
Electromechanical Group. Dongbei Electromechanical Group agreed to lease the land covering area of
15,963.04 square metres located at 5 Wuhuang Road, Tieshan District, Huangshi City to the Company for
its use. The term of lease is 50 years.
Notes 2: In July 2011, the Company leased the factory buildings in Huangshi Huangjinshan Industrial Park
83
黄石东贝电器股份有限公司 2014 年半年度报告
with floorage of 11976.48 square meters to Huangshi Dongbei Refrigeration Co., Ltd. for use. The lease
term specified in the contract is one year. As agreed, this contract will be automatically extended upon its
expiration in case both parties have no objection.
Notes 3: In January 2009, Huangshi Dongbei Electromechanical Group Solar Energy Co., Ltd. leased the
factory buildings in Dongbei Industrial Park (located at 5 Wuhuang Road, Tieshan District, Huangshi City,
Hubei Province) with floorage of 18000 square meters to Huangshi Dongbei Refrigeration Co., Ltd. for use.
The lease term specified in the contract is one year. As agreed, this contract will be automatically extended
upon its expiration in case both parties have no objection.
(4)Related Guarantee
The details of affiliates guarantees please see Note 5 of the notes of the important items in consolidated
financial statements, Note16, short-term loans and Note 25, long-term loans.
6. Between funds of related parties
Ⅰ.Between funds of related parties
Balance at period
Name Related parties Balance at period end
beginning
Account receivable Huangshi Dongbei Refrigerating Co., Ltd. 22,498,841.38 10,794,555.97
Huangshi Dongbei Electromechanical Group
Prepayments 18,275,409.14 11,570,725.53
Co., Ltd.
Prepayments Huangshi Dongbei Refrigerating Co., Ltd. 3,854,076.14
Prepayments Huangshi Dongbei New Energy Co., Ltd. 290,000.00 3,971,000.00
Ⅱ. Spreadsheet of Accounts Payable from related parties
Balance at period
Name Related parties Balance at period end
beginning
Account payable Huangshi Dongbei Refrigerating Co., Ltd. 12,874,165.69
Huangshi Aibo Technology Development
Account payable 13,509,872.49 46,512,989.29
Co., Ltd.
Account payable Jiangsu Luoke Electric Co., Ltd. 62,619,786.86 59,240,544.89
VII. Contingent events
As of June 30, 2014, the Company did not have material contingent events to be disclosed.
VIII.Commitments event
As of June 30, 2014, no any significant commitment was made.
IX. Events Occurring After the Balance Sheet Date.
As of the report date, the Company did not have Future items balance sheet items to be disclosed.
X. Other significant events
XI. Notes to Main items of financial statements of parent company
84
黄石东贝电器股份有限公司 2014 年半年度报告
1.Account receivables
(1)Classification of Accounts receivables
Amount in year-end
Book Balance Bad debt provision
Type
Amount Proportion Amount Proportion
(%) (%)
1. Receivables with major individual amount and bad debt
provision provided individually
2. Receivables provided bad debt provision in groups 894,920,712.65 100 29,465,874.39 3.30
Group 1（Account age Analysis ） 894,920,712.65 100 29,465,874.39 3.30
Subtotal of group 894,920,712.65 100 29,465,874.39 3.30
3. Account receivable with minor individual amount but bad debt
provision is provided
Total 894,920,712.65 100 29,465,874.39 3.30
Balance at period beginning
Bad debt reserve
Book balance
Type
Proporti
Amount Proportion
Amount on
(%)
(%)
1. Receivables with major individual amount and bad debt
provision provided individually
2. Receivables provided bad debt provision in groups 733,533,031.00 100.00 26,599,845.59 3.63
Group 1（Account age Analysis ） 733,533,031.00 100.00 26,599,845.59 3.63
Subtotal of group 733,533,031.00 100.00 26,599,845.59 3.63
3. Account receivable with minor individual amount but bad debt
provision is provided
Total 733,533,031.00 100.00 26,599,845.59 3.63
Notes 1: The accounts receivable with significant individual amount and appropriation of provisions for
doubtful accounts individually, refers to the receivables of single amount beyond RMB 5 million (including
RMB5 million), if there is no depreciation after depreciation test made, the company shall appropriate
provisions for doubtful accounts according to account age.
Notes 2: The top five account receivables of the end of period added up to RMB438,326,690.17,59.76 % of
the total account
In groups, the receivables status of provisions for doubtful accounts shall be appropriated according to aging
analysis method.
Amount at period end Amount at period beginning
Account age Bad debt
Proportion( Bad debt reserve Proportion
Book balance Book balance reserve
%) (%)
Within 1 year 880,633,070.85 98.40 16,824,603.98 719,245,389.20 98.05 13,958,575.18
85
黄石东贝电器股份有限公司 2014 年半年度报告
Amount at period end Amount at period beginning
Account age Bad debt
Proportion( Bad debt reserve Proportion
Book balance Book balance reserve
%) (%)
1-2 years 68,824.89 0.01 3,441.24 68,824.89 0.01 3,441.24
2-3 years 2,113,992.49 0.24 634,197.75 2,113,992.49 0.29 634,197.75
3-4 years 252,982.50 0.02 151,789.50 252,982.50 0.03 151,789.50
4-5 years -
Over 5 years 11,851,841.92 1.33 11,851,841.92 11,851,841.92 1.62 11,851,841.92
Total 894,920,712.65 100.00 29,465,874.39 733,533,031.00 100.00 26,599,845.59
（2）There are no receivables from any shareholders held over 5% (inclusive5%) voting shares of the
Company.
(3) Account receivable include the following foreign currency balances
Foreign Year-end balance Year-beginning balance
Currency of Name Exchange Original
Original currency rate RMB equivalent currency Exchange rate RMB equivalent
USD 18,386,803.42 6.1528 113.130,324.08 11,884,756.66 6.0969 72,460,172.88
Euro 2,016,013.06 8.3946 16,923,623.23 3,185,679.81 8.4189 26,819,919.75
Total —— —— 130,053,947.31 —— —— 99,280,092.63
2. Other receivables
（1）Other Other receivables presented by types
Amount at period end
Bad debt reserve
Book balance
Type Proporti
Amount on of
Proportion
(%)
Amount provisio
n
(%)
1. Receivables with major individual amount and bad debt
provision provided individually
2. Receivables provided bad debt provision in groups 6,560,131.87 100 1,102,672.89 14.39
Group 1（Account age Analysis ） 6,560,131.87 100 1,102,672.89 14.39
Subtotal of group 6,560,131.87 100 1,102,672.89 14.39
3. Account receivable with minor individual amount but bad debt
provision is provided
Total 6,560,131.87 100 1,102,672.89 14.39
Balance at period beginning
Bad debt reserve
Book balance
Type Proporti
Amount on of
Proportion(
%) Amount provisio
n
(%)
86
黄石东贝电器股份有限公司 2014 年半年度报告
Balance at period beginning
Bad debt reserve
Book balance
Type Proporti
Amount on of
Proportion(
%) Amount provisio
n
(%)
1. Receivables with major individual amount and bad debt
provision provided individually
2. Receivables provided bad debt provision in groups 9,506,498.15 100.00 1,102,672.89 11.60
Group （Account age Analysis ） 9,506,498.15 100.00 1,102,672.89 11.60
Subtotal of group 9,506,498.15 100.00 1,102,672.89 11.60
3. Account receivable with minor individual amount but bad debt
provision is provided
Total 9,506,498.15 100.00 1,102,672.89 11.60
Notes：The Other receivable with significant individual amount and appropriation of provisions for doubtful
accounts individually, refers to the receivables of single amount beyond RMB3 million (including RMB3
million), if there is no depreciation after depreciation test made, the company shall appropriate provisions
for doubtful accounts according to account age.
In groups, other receivables status of provisions for doubtful accounts shall be appropriated according to
aging analysis method.
Amount at period end Amount at period beginning
Account age Bad debt
Proportion Bad debt reserve Proportion
Book balance Book balance reserve
(%) (%)
Within 1 year 5,012,358.28 76.41 159,174.49 7,958,724.56 83.71 159,174.49
1-2 years 6,200.15 0.09 310.01 6,200.15 0.07 310.01
2-3 years 758,835.78 11.57 227650.73 758,835.78 7.98 227,650.73
3-4 years 168,000.00 2.56 100800 168,000.00 1.77 100,800.00
4-5 years 614,737.66 9.37 614737.66 614,737.66 6.47 614,737.66
Total 6,560,131.87 100.00 1,102,672.89 9,506,498.15 100.00 1,102,672.89
（2）There are no other receivables from any shareholders held over 5%(includive5%) voting shares of the
company.
87
黄石东贝电器股份有限公司 2014 年半年度报告
3. Long-term Equity investment
Percentage of the
Account Beginning Ending Percentage of the owned
Investmen voting shares of Impairment Cash dividends
Invested business ing balance of Changes balance of shares of the invested
t cost ghe invested provision this period
method the year the period business (%)
business(%)
Huangshi Dongbei
Cost 22,485,202.90 22,485,202.90 22,485,202.90 83.03 83.03
Electromechanical Group method
Solar energy Co., Ltd.
Wuhu Abaur Mechanical & Cost 33,339,800.00 33,339,800.00 33,339,800.00 75.00 75.00
Electrical Co., Ltd. method
Dongbei International Trade Cost 6,821,274.70 6,821,274.70 6,821,274.70 100.00 100.00
Co., Ltd. method
Dongbei(Wuhan) Technology Cost 0.00 8,000,000.00 8,000,000.00
Innovation Co., Ltd. method 8,000,000.00 100.00 100.00
Dongbei Electromechanical Cost 0 140,000,000.00 140,000,000.00
(Jiangsu) Co., Ltd. method 140,000,000.00 100.00 100.00
Total —— 62,646,277.60 148,000,000.00
210,646,277.6
210,646,277.60 0 —— ——
88
黄石东贝电器股份有限公司 2014 年半年度报告
4.Operating income and operating cost
(1)Operating income
Same period of the
Items
Report period previous year
Main business income 1,474,778,500.67
1,709,491,126.14
Other business income 163,345,866.91
134,947,055.98
Total 1,638,124,367.58
1,844,438,182.12
(2)Operating cost
Same period of the previous
Items
Report period year
1,392,131,995.86
Main business cost 1,602,809,329.63
143,131,930.15
Other business cost 130,976,638.43
1,535,263,926.01
Total 1,733,785,968.06
(3) Main operating （Industry）
Report period Same period of the previous year
Name Income of Main Cost of Main Income of Main Cost of Main
operation operation operation operation
Manufacturing 1,474,778,500.67 1,392,131,995.86 1,709,491,126.14 1,602,809,329.63
Total 1,474,778,500.67 1,392,131,995.86 1,602,809,329.63
1,709,491,126.14
(4) Main operating （Product）
Report period Same period of the previous year
Name Income of Main Cost of Main Income of Main Cost of Main
operation operation operation operation
Compressor 1,474,778,500.67 1,392,131,995.86 1,709,491,126.14 1,602,809,329.63
Total 1,474,778,500.67 1,392,131,995.86 1,709,491,126.14 1,602,809,329.63
(5) Main operating （Area）
Report period Same period of the previous year
Name Income of Main Cost of Main Income of Main Cost of Main
operation operation operation operation
1,018,125,496.1 1,369,364,507.0 1,285,503,911.5
Domestic sales 1,076,903,567.55
4 8 4
397,874,933.1
Foreign sales 374,006,499.72 340,126,619.06 317,305,418.09
2
1,392,131,995.8 1,709,491,126.1 1,602,809,329.6
Total 1,474,778,500.67
6 4 3
5. Supplement Information of Cash flow statement
89
黄石东贝电器股份有限公司 2014 年半年度报告
Same period of the
Items
Report period previous year
I.Adjusting net profit to net cash flow in operating activities
Net profit 6,390,290.37 7,851,897.81
Add: Asset devaluation reserve provided 2,866,028.80 6,339,426.91
Fixed assets depreciation,Oil and gas depreciation, Produce matter
27,447,050.28 31,826,228.67
depreciation
Amortization of intangible assets 567,797.80
Amortization of long-term expenses
The loss from the disposal of fixed assets, intangible assets and
382,274.09 145,499.95
other long-term assets
Loss from scrapping of fixed assets
Loss from fair change
Financial expenses 13,377,440.53 11,976,209.95
Investment loss
Decrease of deferred tax assets -429,904.32 -950,914.04
Increase of deferred tax Liabilities
Decrease of inventories
-104,323,963.81
54,742,385.66
Decrease of operating accounts receivable
-592,348,524.67
-204,521,080.99
Increase of operating accounts payable
567,484,496.87
352,136,107.96
Other
Net cash flow generated from operating activities 252,390,592.38 -71,431,844.56
II.Investment and financing activities not involving cash receipts and
expenditure
Transferring debts to capital
Convertible corporate bond to mature within one year
Leasing fixed assets through financing
III、Net increase of cash and cash equivalent
Balance of cash at the end of the period 390,042,911.15
329,811,216.22
Less: Balance of cash at the beginning of the period 247,510,121.61 239,540,473.29
Add: Balance of cash equivalent at the end of the period
Less: Balance of cash equivalent at the beginning of the period
Net increase of cash and cash equivalent 82,301,094.61 150,502,437.86
XII. Supplement Information
1.Non-recurring gains and losses of current year
（1）Calculation of non-recurring gains and losses below, in accordance with No.1, Information
Disclosure interpretative Bulletin for public offering of securities of enterprises , namely non-recurring
gains and losses (Version of 2008), China securities Regulatory Commission Announcement {2008} No.43 }
90
黄石东贝电器股份有限公司 2014 年半年度报告
Issued by China securities regulatory commission.
Items Amount Notes
1．Gain/loss from disposal of non-current assets and Provision for impairment of assets
-116,656.42
including the preparation of the write-off part .
2．Tax refund, deduction and exemption that is examined and approved by authority
-
exceeding or has no official approval document.
3．Governmental Subsidy accounted as current gain/loss, except for those subsidies at with
amount or quantity fixed by the national government and closely related to the Company‘s 10,791,270.00
business operation.
4．Capital occupation fee collected from non-financial organizations and accounted as
-
current gain/loss.
5．Income from the exceeding part between investment cost of the Company paid for
obtaining subsidiaries, associates and joint-ventures and recognizable net assets fair value -
attributable to the Company when acquiring the investment
6．Gains and losses from exchange of non-non-monetary assets -
7．Gains and losses from assets under trusted investment or Management -
8．Asset impairment provisions for force major such as natural disasters -
9．Gain/loss from debt reorganization -
10.Enterprise reorganization expenses, such as payment to stuff placement and
-
consolidation expenses
11．Gain/loss from trades obviously departed from fair value -
12．Net gain/loss of current term from consolidation of subsidiaries under common control
-
from beginning of term to the consolidation date
13．Gain/loss from debt forecasting without connection to the main business operation -
14．In addition to normal business with the company effective hedging related business,
holders of tradable financial assets, transactions and financial liabilities arising from
changes in fair value gains and losses, as well as the disposal of trading of financial assets, -
trading financial liabilities and available-for-sale financial assets gains return on
investment;
15．Single impairment test for impairment of receivables transferred back to preparation -
16．Gains and losses obtained from external trusted loans -
17．The use of fair value measurement model of follow-up to the fair value of real estate
-
investment gains and losses arising from changes
18．According to tax, accounting and other laws, regulations, the requirements of the
-
current Gain/loss for a one-time adjustment of the impact of the current Gain/loss;
19．Entrusted with the operating of the trust to obtain fee income -
20．Net amount of non-operating income and expense except the aforesaid items 797,610.33
21．Other non-recurring Gains/loss items -
22.Amount of influence of minority interests -3,558,692.76
23.Amount of influence of income tax -1,720,833.58
Total
6,192,697.57
(2) The item and reason of recurrent profit and loss in the government grants accounted in current profit and
loss:
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黄石东贝电器股份有限公司 2014 年半年度报告
Name Amount Reason
Refunded VAT
1,076,159.51 The law related to the tax law
2.Return on equity and earnings per share
(1)For this year
Earnings per share
Weighted average
Profit of the reporting period return on equity Diluted
Basic earnings
（%） earnings per
per share
share
Net profit attributable to shareholders of parent company 2.74 0.106 0.106
Net profit attributable to shareholders of parent company after
2.06 0.080 0.080
deduction of non-current gains and losses
(2)For last year
Earnings per share
Weighted average
Profit of the reporting period return on equity Diluted
Basic earnings
（%） earnings per
per share
share
Net profit attributable to shareholders of parent company 2.95 0.102 0.102
Net profit attributable to shareholders of parent company after
deduction of non-current gains and losses 2.47 0.086 0.086
3. Abnormal items of main financial statements and reasons for abnormality
(1)Balance sheet
Amount at period Amount at period Magnitude
Items Amount of change Notes
end beginning of change%
Other receivable 15,983,894.44 10,294,402.66 8,695,508.22 55.27 Notes 1
Construction in
44,840,541.79 14,031,259.01 30,809,282.78 219.58 Notes 2
progress
Employees‘ wage
23,325,036.66 42,108,898.55 18,783,861.89 -44.61 Notes 3
payable
Note 1: the main reason of increased of other receivables over the begining of the period is the three subsidi
ary Huangshi Dongbei Foundry Co., Ltd. leasing deposit of 6.42 million yuan
Note 2: the main reason of increased of construction in progress over the begining of the period is the added
construction project of luoqiao, Huang Jinshan phase 3
Note 3: the main reason of greatly reduced of the employee benefits payable over the begining of the period
is issuing 2013 annual year-end bonus.
(2)Profit Statement
Amount at period Amount at period Magnitude
Items Amount of change Notes
end beginning of change%
Notes
Financial expenses 28,477,173.91 38,280,044.61 9,802,870.7 34.42
1
Note 1: the main reason of reduction the amount of financial cost reduction over the last period is the depre
ciation of RMB, foreign exchange gains and losses caused by saving compared with the same period last ye
ar.
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黄石东贝电器股份有限公司 2014 年半年度报告
XIII. Approval of the financial statement
The financial statement has been approved by the board of directors of the Company in August 22,
2014.
Huangshi Dongbei Electrical Appliance Co., Ltd.
August 22, 2014
Notes in Financial Statements on page 37 to page 92 were signed by the responsible person.
Legal representative ： Person-in-charge of the Person-in -charge of the
Yang Baichang accounting work：Lu Lihua accounting organ：Ma Li
signed: signed: signed:
Date： Date： Date：
X. List of Documents Available for Inspection
(I) The semi-annual Report with the signature of the Legal representative of the Company;
(II) Text of the Financial Repost with the signatures and seals of the Legal representative and the person of
the accounting organs;
(III) Texts of all the Company‘s documents ever disclosed in the newspapers designated by the CSRC in the
report period as well as the originals of the public notices.
Chairman of the board of directors: Yang Baichang
Huangshi Dongbei Electrical Appliance Co., Ltd.
August 22, 2014
93
