2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Shenzhen Textile (Holdings) Co., Ltd.
2024 Semi-annual Financial Report
August 2024
1
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
1. Audit Report
Whether the semi-annual report has been audited
□ Yes √ No
The Company's semi-annual financial report is unaudited.
2. Financial statements
The unit of the financial statements in the notes is RMB
1. Consolidated Balance Sheet
Prepared by: Shenzhen Textile (Holdings) Co., Ltd.
June 30,2024
In RMB
Items Ending balance Opening balance
Current asset：
Monetary fund 225,910,430.39 472,274,448.00
Deposit reservation for balance
Lending funds
Transaction financial assets 958,694,300.63 821,946,114.68
Derivative financial assets
Note receivable 36,077,741.23 50,963,943.01
Accounts receivable 989,669,064.26 820,134,833.95
Financing of receivables 1,764,753.26 22,839,459.13
Prepayments 19,440,071.68 19,499,886.80
Premiums receivable
Cession premiums receivable
Provision of cession receivable
Other account receivable 2,869,233.51 3,220,285.42
Including：Interest receivable 0.00 0.00
Dividend receivable 0.00 0.00
Redemptory monetary capital for
sale
Inventories 846,922,170.06 736,392,172.27
Including: Data resources
Contract assets
Assets held for sale
Non-current assets due within one
year
Other current asset 48,163,125.23 60,773,457.39
Total of current assets 3,129,510,890.25 3,008,044,600.65
Non-current assets：
Loans and advances offered
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Debt investment
Other debt investment
Long-term receivables
Long-term equity investment 121,622,822.15 127,682,020.70
Other equity instruments
145,988,900.00 145,988,900.00
investment
Other non-current financial assets
Investment real estate 120,798,298.63 125,603,207.18
Fixed assets 1,956,105,719.74 2,066,006,237.73
Construction in process 35,178,323.03 31,307,060.74
Productive biological assets
Oil and gas assets
Use right assets 15,681,910.23 11,999,466.57
Intangible assets 37,363,216.15 39,564,422.80
Including: Data resources
Development expenditures
Including: Data resources
Goodwill 0.00 0.00
Long-term expenses to be
4,571,279.35 3,503,660.94
amortized
Deferred income tax asset 54,006,722.74 60,605,365.42
Other non-current asset 27,721,656.15 29,517,420.71
Total of non-current assets 2,519,038,848.17 2,641,777,762.79
Total of assets 5,648,549,738.42 5,649,822,363.44
Current liabilities：
Short-term borrowing 0.00 8,000,000.00
Borrowing from the central bank
Borrowed funds
Trading financial liabilities
Derivative financial liabilities
Notes payable 10,743,421.84 31,049,291.49
Account payable 474,563,073.82 408,548,136.24
Advance receipts 1,384,783.04 1,450,096.30
Contract liabilities 11,015,753.50 1,436,943.34
Financial assets sold for
repurchase
Deposits from customers and
interbank
Receivings from vicariously traded
securities
Funds received as stock
underwrite
Employees’ wage payable 48,445,066.44 56,437,162.09
Tax payable 6,775,687.17 4,340,895.14
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Other payable 180,013,733.22 184,528,344.55
Including：Interest payable 0.00 0.00
Dividend payable 0.00 0.00
Service charges and commissions
payable
Cession premiums payable
Liabilities held for sale
Non-current liability due within 1
109,541,121.89 108,102,752.99
year
Other current liability 58,881,472.16 80,082,477.22
Total of current liability 901,364,113.08 883,976,099.36
Non-current liabilities：
Insurance contract reserve
Long-term borrowing 454,656,644.56 505,578,314.56
Bonds payable
Including: preferred stock
Perpetual bonds
Lease liabilities 10,179,476.70 6,687,317.22
Long-term payables
Long-term employee benefits
payable
27. Estimated liabilities
Deferred income 92,717,923.24 97,485,986.89
Deferred income tax liability 43,951,002.93 44,177,287.45
Other non-current liabilities
Total non-current liabilities 601,505,047.43 653,928,906.12
Total of liability 1,502,869,160.51 1,537,905,005.48
Owner's equity:
Share capital 506,521,849.00 506,521,849.00
Other equity instruments
Including: preferred stock
Perpetual bonds
Capital reserves 1,961,599,824.63 1,961,599,824.63
Less: treasury stock
Other comprehensive income 93,491,555.75 93,607,380.81
Special reserve
Special reserve 104,262,315.64 104,262,315.64
General risk provisions
Retained profit 227,131,054.65 216,160,896.14
Total equity attributable to the owner
2,893,006,599.67 2,882,152,266.22
of the parent company
Minority shareholders’ equity 1,252,673,978.24 1,229,765,091.74
Total owner's equity 4,145,680,577.91 4,111,917,357.96
Total liabilities and owner's equity 5,648,549,738.42 5,649,822,363.44
Legal representative: Yin Kefei Principal in charge of accounting: Liu Yu Principal of accounting agency: Huang
Min
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
2. Balance Sheet of parent company
In RMB
Items Ending balance Opening balance
Current asset：
Monetary fund 18,669,477.61 9,125,800.27
Transaction financial assets 707,161,943.00 741,243,309.42
Derivative financial assets
Note receivable
Accounts receivable 12,513,509.31 12,671,623.65
Financing of receivables
Prepayments 9,239.29 0.00
Other account receivable 26,806,548.49 14,013,552.95
Including：Interest receivable 0.00 0.00
Dividend receivable 0.00 0.00
Inventories 36,079.05 32,814.05
Including: Data resources
Contract assets
Assets held for sale
Non-current assets due within one
year
Other current asset
Total of current assets 765,196,796.75 777,087,100.34
Non-current assets：
Debt investment
Other debt investment
Long-term receivables
Long-term equity investment 2,081,473,612.24 2,087,532,810.79
Other equity instruments
131,185,500.00 131,185,500.00
investment
Other non-current financial assets
Investment real estate 98,602,072.25 102,430,682.27
Fixed assets 2,294,808.14 2,522,229.44
Construction in process
Productive biological assets
Oil and gas assets
Use right assets
Intangible assets 134,652.30 191,875.56
Including: Data resources
Development expenditures
Including: Data resources
Goodwill 0.00 0.00
Long-term expenses to be 2,136,988.39 0.00
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
amortized
Deferred income tax asset 0.00 0.00
Other non-current asset 26,911,346.35 27,823,005.45
Total of non-current assets 2,342,738,979.67 2,351,686,103.51
Total of assets 3,107,935,776.42 3,128,773,203.85
Current liabilities：
Short-term borrowing
Trading financial liabilities
Derivative financial liabilities
Notes payable
Account payable 411,743.57 411,743.57
Advance receipts 540,673.07 540,673.07
Contract liabilities
Employees’ wage payable 13,036,827.06 15,810,919.71
Tax payable 3,613,447.07 3,115,369.56
Other payable 107,742,753.21 106,722,393.87
Including：Interest payable
Dividend payable 0.00 0.00
Liabilities held for sale
Non-current liability due within 1
year
Other current liability
Total of current liability 125,345,443.98 126,601,099.78
Non-current liabilities：
Long-term borrowing
Bonds payable
Including: preferred stock
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits
payable
27. Estimated liabilities
Deferred income 150,000.00 200,000.00
Deferred income tax liability 40,628,383.59 40,855,186.12
Other non-current liabilities
Total non-current liabilities 40,778,383.59 41,055,186.12
Total of liability 166,123,827.57 167,656,285.90
Owner's equity:
Share capital 506,521,849.00 506,521,849.00
Other equity instruments
Including: preferred stock
Perpetual bonds
Capital reserves 1,577,392,975.96 1,577,392,975.96
Less: treasury stock
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Other comprehensive income 83,514,005.75 83,629,830.81
Special reserve
Special reserve 104,262,315.64 104,262,315.64
Retained profit 670,120,802.50 689,309,946.54
Total owner's equity 2,941,811,948.85 2,961,116,917.95
Total liabilities and owner's equity 3,107,935,776.42 3,128,773,203.85
3. Consolidated income statement
In RMB
Items Semi-annual 2024 Semi-annual 2023
I. Total operating income 1,623,384,151.90 1,490,095,669.55
Including: Operating income 1,623,384,151.90 1,490,095,669.55
Interest income
Premiums earned
Income from service
charges and commissions
II. Total operating cost 1,509,523,068.26 1,412,490,369.86
Including: Operating costs 1,389,606,053.06 1,286,170,472.71
Interest expenses
Expenditures of service
charges and commissions
Surrender value
Net payments for insurance
claims
Withdrawal of net provision
for insurance contracts
Expenditure of policy
dividend
Reinsurance costs
Business tax and surcharge 4,614,482.79 4,397,329.78
Sale expenses 18,259,030.20 16,439,473.30
Administrative expenses 59,979,111.15 65,299,409.82
R & D expenses 47,870,863.46 36,004,188.62
Financial expenses -10,806,472.40 4,179,495.63
Including：Interest
11,411,878.99 13,965,081.41
expense
Interest income 4,864,600.64 5,318,571.16
Add: Other income 18,891,082.37 19,369,307.55
Investment income ("-" for
3,206,756.62 7,743,354.69
losses)
Including: income from
investment in associates and joint -4,247,734.12 -2,111,260.03
ventures
Financial assets
measured at amortized cost cease to
be recognized as income
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Foreign exchange gains ("-"
for losses)
Net exposure hedging income
("-" for losses)
Gains from changes in fair
1,283,637.11 0.00
value ("-" for losses)
Credit impairment losses ("-"
-8,275,241.40 -8,669,369.85
for losses)
Asset impairment losses ("-"
-48,933,632.55 -35,512,897.29
for losses)
Asset disposal income ("-" for
0.00 321.08
losses)
3. Operating profits ("-" for losses) 80,033,685.79 60,536,015.87
Add：Non-Operating income 162,935.79 401,387.79
Less：Non-Operating expenses 2,311,469.51 3,037,581.05
4. Total profits ("-" for total losses) 77,885,152.07 57,899,822.61
Less：Income tax expenses 11,082,190.34 5,713,017.38
5. Net profits ("-" for net losses) 66,802,961.73 52,186,805.23
(I) Classified by operating
sustainability
1. Net profit from continuing
66,802,961.73 52,186,805.23
operations ("-" for net losses)
2. Net profit from discontinued
operations ("-" for net losses)
(II) Classified by attribution of the
ownership
1. Net profit attributable to
shareholders of the parent company 43,894,075.23 36,307,162.97
("-" for net losses)
2. Minority interest income ("-"
22,908,886.50 15,879,642.26
for net losses)
VI. Net of tax from other
-115,825.06 352,684.20
comprehensive income
OCI attributable to owners of the
-115,825.06 233,590.80
parent company
(I) Other comprehensive
incomes that cannot be reclassified 0.00 0.00
into profit and loss
1. Changes in re-
measurement of the defined benefit 0.00 0.00
plan
2. Other comprehensive
income that cannot be transferred to 0.00 0.00
profit or loss under the equity method
3. Changes in the fair value of
investments in other equity 0.00 0.00
instruments
4. Changes in the fair value of
0.00 0.00
the company’s credit risks
5. Other 0.00 0.00
(II) Other comprehensive income
that can be re-classified into profit -115,825.06 233,590.80
and loss
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
1.Other comprehensive incom
e under the equity method investee c 0.00 0.00
an be reclassified into profit or loss.
2. Changes in the fair value of
0.00 178,640.10
investments in other debt obligations
3. Other comprehensive
income arising from the
reclassification of financial assets
4. Credit impairment reserves
of other debt investment
5. Cash flow hedge reserve 0.00 0.00
6. Translation difference of
-115,825.06 54,950.70
foreign currency financial statements
7.Other 0.00 0.00
Net of profit of other comprehensiv
e income attributable to Minority 0.00 119,093.40
shareholders’ equity
VII. Total comprehensive income 66,687,136.67 52,539,489.43
Total comprehensive income
attributable to owners of the parent 43,778,250.17 36,540,753.77
company
Total comprehensive income
22,908,886.50 15,998,735.66
attributable minority shareholders
VIII. Earnings per share:
(I) Basic earnings per share 0.0867 0.0717
(II) Diluted earnings per share 0.0867 0.0717
In the current period, for business combinations under common control, the net profit realized by the entity being
merged before the combination was: RMB 0.00, and the net profit realized by the entity being merged in the previous
period was: RMB 0.00.
Legal representative: Yin Kefei Principal in charge of accounting: Liu Yu Principal of accounting agency: Huang
Min
4. Profit Statement of Parent Company
In RMB
Items Semi-annual 2024 Semi-annual 2023
1. Operating income 37,598,506.94 39,239,619.43
Less: Operating cost 4,849,806.55 4,156,707.01
Business tax and surcharge 1,557,197.01 1,518,980.53
Sale expenses 28,576.00 103,182.40
Administrative expenses 18,630,597.44 24,244,619.96
R & D expenses 0.00 0.00
Financial expenses -1,041,915.34 -1,137,285.05
Including：Interest expense 5,709.68 10,480.78
Interest income 1,142,495.37 1,206,551.01
Add: Other income 114,150.75 103,012.52
Investment income ("-" for
4,103,395.00 7,701,351.64
losses)
Including: income from
investment in associates and joint -4,247,734.12 -2,111,260.03
ventures
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Gains from
derecognition of financial assets
measured at amortized cost ("-" for
losses)
Net exposure hedging income
("-" for losses)
Gains from changes in fair
257,446.36 0.00
value ("-" for losses)
Credit impairment losses ("-"
-11,329.80 -38,616.99
for losses)
Asset impairment losses ("-"
0.00 0.00
for losses)
Asset disposal income ("-" for
0.00 0.00
losses)
2. Operating profits ("-" for losses) 18,037,907.59 18,119,161.75
Add：Non-Operating income 0.00 0.00
Less：Non-Operating expenses 18,097.45 263.13
3. Total profits ("-" for total losses) 18,019,810.14 18,118,898.62
Less：Income tax expenses 4,285,037.46 4,446,788.74
4. Net profits ("-" for net losses) 13,734,772.68 13,672,109.88
(1) Net profit from continuing
13,734,772.68 13,672,109.88
operations ("-" for net losses)
(2) Net profit from discontinued
operations ("-" for net losses)
V. Net after-tax of other
-115,825.06 54,950.70
comprehensive income
(I) Other comprehensive
incomes that cannot be reclassified 0.00 0.00
into profit and loss
1. Changes in re-
measurement of the defined benefit
plan
2. Other comprehensive
income that cannot be transferred to
profit or loss under the equity method
3. Changes in the fair value of
investments in other equity
instruments
4. Changes in the fair value of
the company’s credit risks
5. Other
(II) Other comprehensive income
that can be re-classified into profit -115,825.06 54,950.70
and loss
1.Other comprehensive incom
e under the equity method investee c 0.00 0.00
an be reclassified into profit or loss.
2. Changes in the fair value of
0.00 0.00
investments in other debt obligations
3. Other comprehensive
income arising from the
reclassification of financial assets
4. Credit impairment reserves
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
of other debt investment
5. Cash flow hedge reserve 0.00 0.00
6. Translation difference of
-115,825.06 54,950.70
foreign currency financial statements
7.Other 0.00 0.00
VI. Total comprehensive income 13,618,947.62 13,727,060.58
VII. Earnings per share:
(I) Basic earnings per share
(II) Diluted earnings per share
5. Consolidated Cash Flow Statement
In RMB
Items Semi-annual 2024 Semi-annual 2023
I.Cash flows from operating activities
Cash received from sales of goods
1,485,990,801.73 1,289,316,287.70
or rending of services
Net increase in deposits from
customers and interbank
Net increase in borrowings from
the central bank
Net increase in funds borrowed
from other financial institutions
Cash received for premiums under
the original insurance contract
Net cash received from
reinsurance business
Net increase in deposits from the
insured and investment funds
Cash received for interest, service
charges and commissions
Net increase in borrowed funds
Net increase in funds of
repurchasing business
Net cash received from vicariously
traded securities
Tax returned 6,793,213.50 2,508,619.13
Other cash received from business
56,983,404.25 77,994,829.70
operation
Subtotal of cash inflow received from
1,549,767,419.48 1,369,819,736.53
operation activities
Cash paid for purchasing of
1,347,905,854.18 1,119,566,064.13
merchandise and services
Net increase in loans and
advances to customers
Net increase in deposits in the
central bank and deposits from
interbank
Cash paid for the compensation
under the original insurance contract
Net increase in lending funds
Cash paid for interest, service
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
charges and commissions
Cash paid for policy dividends
Cash paid to staffs or paid for
124,223,211.21 132,029,182.07
staffs
Taxes paid 15,045,793.07 25,728,838.24
Other cash paid for business
50,757,711.08 78,092,678.49
activities
Subtotal of cash outflow received
1,537,932,569.54 1,355,416,762.93
from operation activities
Net cash flow arising from operating
11,834,849.94 14,402,973.60
activities
II. Cash flow generated by investing
Cash received from investment
0.00 0.00
retrieving
Cash received as investment gains 7,303,767.71 1,456,000.00
Net cash retrieved from disposal of
fixed assets, intangible assets, and 0.00 7,050.00
other long-term assets
Net cash received from disposal of
0.00 0.00
subsidiaries or other operational units
Other investment-related cash
965,100,513.30 195,000,000.00
received
Subtotal of cash inflow received from
972,404,281.01 196,463,050.00
investing activities
Cash paid to acquire and construct
fixed assets, intangible assets and 6,988,462.82 13,286,475.07
other long-term assets
Cash paid as investment 0.00 0.00
Net increase in pledged loans 0.00 0.00
Net cash received from
subsidiaries and other operational 0.00 0.00
units
Other cash paid for investment
1,099,000,000.00 631,537,000.00
activities
Subtotal of cash outflow for
1,105,988,462.82 644,823,475.07
investment activities
Net cash flow arising from investment
-133,584,181.81 -448,360,425.07
activities
III.Cash flow generated by financing
Cash received as investment 0.00 0.00
Including: Cash received as
0.00 0.00
investment from minor shareholders
Cash received as loans 257,600.00 3,000,000.00
Other financing –related cash
0.00 0.00
received
Subtotal cash inflow received from
257,600.00 3,000,000.00
financing activities
Cash to repay debts 58,921,670.00 49,284,364.34
Cash paid as dividend, profit, or
44,157,958.67 44,088,760.65
interests
Including: Dividends and profits
paid by subsidiaries to minority 0.00 0.00
shareholders
Other cash paid for financing
6,463,136.37 4,141,770.57
activities
Subtotal cash outflow for financing 109,542,765.04 97,514,895.56
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
activities
Net cash flow arising from financing
-109,285,165.04 -94,514,895.56
activities
IV. Influence of exchange rate
alternation on cash and cash -6,440,394.95 -318,751.44
equivalents
V. Net increase in cash and cash
-237,474,891.86 -528,791,098.47
equivalents
Add: opening balance of cash and
461,420,457.33 874,474,834.46
cash equivalents
VI. Closing balance of cash and cash
223,945,565.47 345,683,735.99
equivalents
6. Cash Flow Statement of Parent Company
In RMB
Items Semi-annual 2024 Semi-annual 2023
I.Cash flows from operating activities
Cash received from sales of goods
40,534,005.59 39,612,023.57
or rending of services
Tax returned 67,999.80 1,636,664.57
Other cash received from business
4,967,943.81 1,679,622.51
operation
Subtotal of cash inflow received from
45,569,949.20 42,928,310.65
operation activities
Cash paid for purchasing of
1,110,239.45 6,111,142.09
merchandise and services
Cash paid to staffs or paid for
19,875,978.31 22,248,006.25
staffs
Taxes paid 8,337,487.47 12,755,344.10
Other cash paid for business
18,437,225.42 3,654,514.20
activities
Subtotal of cash outflow received
47,760,930.65 44,769,006.64
from operation activities
Net cash flow arising from operating
-2,190,981.45 -1,840,695.99
activities
II. Cash flow generated by investing
Cash received from investment
0.00 0.00
retrieving
Cash received as investment gains 9,003,767.71 1,456,000.00
Net cash retrieved from disposal of
fixed assets, intangible assets, and 0.00 0.00
other long-term assets
Net cash received from disposal of
0.00 0.00
subsidiaries or other operational units
Other investment-related cash
885,100,513.30 135,000,000.00
received
Subtotal of cash inflow received from
894,104,281.01 136,456,000.00
investing activities
Cash paid to acquire and construct
fixed assets, intangible assets and 1,288,821.77 512,293.90
other long-term assets
Cash paid as investment
Net cash received from
subsidiaries and other operational
units
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Other cash paid for investment
850,000,000.00 401,537,000.00
activities
Subtotal of cash outflow for
851,288,821.77 402,049,293.90
investment activities
Net cash flow arising from investment
42,815,459.24 -265,593,293.90
activities
III.Cash flow generated by financing
Cash received as investment
Cash received as loans 257,600.00 0.00
Other financing –related cash
1,585,151.73 0.00
received
Subtotal cash inflow received from
1,842,751.73 0.00
financing activities
Cash to repay debts 0.00 0.00
Cash paid as dividend, profit, or
32,923,916.72 30,406,699.21
interests
Other cash paid for financing
0.00 0.00
activities
Subtotal cash outflow for financing
32,923,916.72 30,406,699.21
activities
Net cash flow arising from financing
-31,081,164.99 -30,406,699.21
activities
IV. Influence of exchange rate
alternation on cash and cash 364.54 -27,939.81
equivalents
V. Net increase in cash and cash
9,543,677.34 -297,868,628.91
equivalents
Add: opening balance of cash and
9,125,800.27 310,322,528.19
cash equivalents
VI. Closing balance of cash and cash
18,669,477.61 12,453,899.28
equivalents
7. Consolidated Statement of Changes in Owner’s Equity
Amount in current period
In RMB
Semi-annual 2024
Equity attributable to owners of the parent company
Other equity Oth Min
ority Tot
instruments Les er Gen al
Cap Spe Spe Ret sha
Items Sha s: com eral reh own
Pref Per ital cial cial aine
re trea pre risk Oth Sub olde er's
erre pet res res res d
capi Oth sury hen pro er total rs’ equi
d ual erv erv erv prof
tal er stoc sive visi equi ty
stoc bon es e e it ty
k inco ons
k ds me
1,9 2,8 1,2 4,1
1. Balance 506 93, 104 216
61, 82, 29, 11,
at the end ,52 607 ,26 ,16
599 152 765 917
of the 1,8 ,38 2,3 0,8
,82 ,26 ,09 ,35
previous 49. 0.8 15. 96.
4.6 6.2 1.7 7.9
year 00 1 64 14
3 2 4 6
Add: 0.0 0.0 0.0
Change of 0 0 0
14
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
accounting
policy
Co
rrecting of 0.0 0.0 0.0
previous 0 0 0
errors
Ot 0.0 0.0 0.0
her 0 0 0
1,9 2,8 1,2 4,1
2. Balance 506 93, 104 216
61, 82, 29, 11,
at the ,52 607 ,26 ,16
0.0 0.0 0.0 599 0.0 0.0 0.0 0.0 152 765 917
beginning of 1,8 ,38 2,3 0,8
0 0 0 ,82 0 0 0 0 ,26 ,09 ,35
the current 49. 0.8 15. 96.
4.6 6.2 1.7 7.9
year 00 1 64 14
3 2 4 6
3. Changes
in
- 10, 10, 22, 33,
increase/de
115 970 854 908 763
crease in 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
,82 ,15 ,33 ,88 ,21
the current 0 0 0 0 0 0 0 0 0 0
5.0 8.5 3.4 6.5 9.9
period ("-"
6 1 5 0 5
for
decrease)
- 43, 43, 22, 66,
(I) Total 115 894 778 908 687
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
comprehen ,82 ,07 ,25 ,88 ,13
0 0 0 0 0 0 0 0 0 0
sive income 5.0 5.2 0.1 6.5 6.6
6 3 7 0 7
(II)
Contribution
and 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
withdrawal 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
of capital by
owners
1. Common
stock 0.0 0.0 0.0
contributed 0 0 0
by owners
2. Capital
invested by
0.0 0.0
holders of
0 0
other equity
instruments
3. Share-
based
payment 0.0 0.0
recognized 0 0
in owners'
equity
0.0 0.0
4. Others
0 0
- - -
32, 32, 32,
(III) Profit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
923 923 923
distribution 0 0 0 0 0 0 0 0 0 0 0 0
,91 ,91 ,91
6.7 6.7 6.7
15
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
2 2 2
1.
Withdrawal 0.0 0.0
of surplus 0 0
reserve
2.
Withdrawal
0.0 0.0
of general
0 0
risk
reserves
3. - - -
Distribution 32, 32, 32,
to owners 923 923 923
(or ,91 ,91 ,91
shareholder 6.7 6.7 6.7
s) 2 2 2
0.0 0.0
4. Others
0 0
(4) Internal
carry-
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
forward of
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
owners'
equity
1. Capital
reserve
transferred
0.0 0.0
to paid-in
0 0
capital (or
share
capital)
2. Surplus
reserve
transferred
0.0 0.0
to paid-in
0 0
capital (or
share
capital)
3．Making
up losses 0.0 0.0
by surplus 0 0
reserves.
4. Changes
in defined
benefit
plans 0.0 0.0
carried 0 0
forward to
retained
earnings
5. Other
comprehen
0.0 0.0
sive income
0 0
transferred
to retained
16
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
earnings
0.0 0.0
6. Others
0 0
(V) Special 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
reserves 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
1.
Withdrawal
0.0 0.0 0.0
in the
0 0 0
current
period
2. Utilization
in the 0.0 0.0 0.0
current 0 0 0
period
0.0 0.0 0.0 0.0
(VI) Others
0 0 0 0
1,9 2,8 1,2 4,1
4. Balance 506 93, 104 227
61, 93, 52, 45,
at the end ,52 491 ,26 ,13
0.0 0.0 0.0 599 0.0 0.0 0.0 0.0 006 673 680
of the 1,8 ,55 2,3 1,0
0 0 0 ,82 0 0 0 0 ,59 ,97 ,57
current 49. 5.7 15. 54.
4.6 9.6 8.2 7.9
period 00 5 64 65
3 7 4 1
Year 2023
In RMB
Semi-annual 2023
Equity attributable to owners of the parent company
Min
Other equity Oth ority Tot
instruments Les er Gen sha al
Cap Spe Spe Ret
Items Sha s: com eral reh own
Pref Per ital cial cial aine
re trea pre risk Oth Sub olde er's
erre pet res res res d
capi Oth sury hen pro er total rs’ equi
d ual erv erv erv prof
tal er stoc sive visi equi ty
stoc bon es e e it
k inco ons ty
k ds me
1,9 2,8 1,1 4,0
1. Balance 506 109 100 170
61, 49, 81, 31,
at the end ,52 ,59 ,90 ,63
0.0 0.0 0.0 599 0.0 0.0 0.0 0.0 264 777 042
of the 1,8 6,6 9,6 6,6
0 0 0 ,82 0 0 0 0 ,55 ,77 ,32
previous 49. 09. 61. 10.
4.6 5.2 0.2 5.4
year 00 31 32 95
3 1 1 2
Add:
Change of 0.0 0.0 0.0
accounting 0 0 0
policy
Co
rrecting of 0.0 0.0 0.0
previous 0 0 0
errors
Ot 0.0 0.0 0.0
her 0 0 0
2. Balance 506 1,9 109 100 170 2,8 1,1 4,0
0.0 0.0 0.0 0.0 0.0 0.0 0.0
at the ,52 61, ,59 ,90 ,63 49, 81, 31,
0 0 0 0 0 0 0
beginning of 1,8 599 6,6 9,6 6,6 264 777 042
17
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
the current 49. ,82 09. 61. 10. ,55 ,77 ,32
year 00 4.6 31 32 95 5.2 0.2 5.4
3 1 1 2
3. Changes
in
15, 22,
increase/de 233 5,9 6,1
998 148
crease in 0.0 0.0 0.0 0.0 0.0 0.0 ,59 0.0 0.0 0.0 15, 0.0 49,
,73 ,17
the current 0 0 0 0 0 0 0.8 0 0 0 852 0 442
5.6 8.4
period ("-" 0 .03 .83
6 9
for
decrease)
36, 36, 15, 52,
233
(I) Total 307 540 998 539
0.0 0.0 0.0 0.0 0.0 0.0 ,59 0.0 0.0 0.0 0.0
comprehen ,16 ,75 ,73 ,48
0 0 0 0 0 0 0.8 0 0 0 0
sive income 2.9 3.7 5.6 9.4
0
7 7 6 3
(II)
Contribution
and 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
withdrawal 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
of capital by
owners
1. Common
stock 0.0 0.0 0.0
contributed 0 0 0
by owners
2. Capital
invested by
0.0 0.0
holders of
0 0
other equity
instruments
3. Share-
based
payment 0.0 0.0
recognized 0 0
in owners'
equity
0.0 0.0
4. Others
0 0
- - -
30, 30, 30,
(III) Profit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 391 0.0 391 0.0 391
distribution 0 0 0 0 0 0 0 0 0 0 ,31 0 ,31 0 ,31
0.9 0.9 0.9
4 4 4
1.
Withdrawal 0.0 0.0
of surplus 0 0
reserve
2.
Withdrawal
0.0 0.0
of general
0 0
risk
reserves
3. - - -
18
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Distribution 30, 30, 30,
to owners 391 391 391
(or ,31 ,31 ,31
shareholder 0.9 0.9 0.9
s) 4 4 4
0.0 0.0
4. Others
0 0
(4) Internal
carry-
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
forward of
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
owners'
equity
1. Capital
reserve
transferred
0.0 0.0
to paid-in
0 0
capital (or
share
capital)
2. Surplus
reserve
transferred
0.0 0.0
to paid-in
0 0
capital (or
share
capital)
3．Making
up losses 0.0 0.0
by surplus 0 0
reserves.
4. Changes
in defined
benefit
plans 0.0 0.0
carried 0 0
forward to
retained
earnings
5. Other
comprehen
sive income 0.0 0.0
transferred 0 0
to retained
earnings
0.0 0.0
6. Others
0 0
(V) Special 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
reserves 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
1.
Withdrawal
0.0 0.0 0.0
in the
0 0 0
current
period
0.0 0.0 0.0
2. Utilization
0 0 0
19
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
in the
current
period
0.0 0.0 0.0
(VI) Others
0 0 0
1,9 2,8 1,1 4,0
4. Balance 506 109 100 176
61, 55, 97, 53,
at the end ,52 ,83 ,90 ,55
0.0 0.0 0.0 599 0.0 0.0 0.0 0.0 413 776 190
of the 1,8 0,2 9,6 2,4
0 0 0 ,82 0 0 0 0 ,99 ,50 ,50
current 49. 00. 61. 62.
4.6 8.0 5.8 3.9
period 00 11 32 98
3 4 7 1
8. Variation of equity attributable to owners of the parent company
Amount in current period
In RMB
Semi-annual 2024
Other equity Other
instruments Capit Less: comp Speci Speci Total
Items Share Retai
Perpe al treas rehen al al owne
capita Prefe ned Other
tual reser ury sive reser reser r's
l rred Other profit
bond ves stock incom ve ve equity
stock e
s
1. Balance
1,577 2,961
at the end 506,5 83,62 104,2 689,3
,392, ,116,
of the 21,84 0.00 0.00 0.00 0.00 9,830 0.00 62,31 09,94
975.9 917.9
previous 9.00 .81 5.64 6.54
6 5
year
Add:
Change of
0.00
accounting
policy
Co
rrecting of
0.00
previous
errors
Ot
0.00
her
2. Balance
1,577 2,961
at the 506,5 83,62 104,2 689,3
,392, ,116,
beginning of 21,84 0.00 0.00 0.00 0.00 9,830 0.00 62,31 09,94 0.00
975.9 917.9
the current 9.00 .81 5.64 6.54
6 5
year
3. Changes
in
increase/de - -
-
crease in 19,18 19,30
0.00 0.00 0.00 0.00 0.00 0.00 115,8 0.00 0.00 0.00
the current 9,144 4,969
25.06
period ("-" .04 .10
for
decrease)
- 13,73 13,61
(I) Total 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
115,8 4,772 8,947
20
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
comprehen 25.06 .68 .62
sive income
(II)
Contribution
and
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
withdrawal
of capital by
owners
1. Common
stock
0.00
contributed
by owners
2. Capital
invested by
holders of 0.00
other equity
instruments
3. Share-
based
payment
0.00
recognized
in owners'
equity
4. Others 0.00
- -
(III) Profit 32,92 32,92
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
distribution 3,916 3,916
.72 .72
1.
Withdrawal
0.00
of surplus
reserve
2.
Distribution - -
to owners 32,92 32,92
(or 3,916 3,916
shareholder .72 .72
s)
3．Other 0.00
(4) Internal
carry-
forward of 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
owners'
equity
1. Capital
reserve
transferred
to paid-in 0.00
capital (or
share
capital)
2. Surplus
reserve 0.00
transferred
21
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
to paid-in
capital (or
share
capital)
3．Making
up losses
0.00
by surplus
reserves.
4. Changes
in defined
benefit
plans
0.00
carried
forward to
retained
earnings
5. Other
comprehen
sive income
0.00
transferred
to retained
earnings
6. Others 0.00
(V) Special
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
reserves
1.
Withdrawal
in the 0.00
current
period
2. Utilization
in the
0.00
current
period
(VI) Others 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4. Balance
1,577 2,941
at the end 506,5 83,51 104,2 670,1
,392, ,811,
of the 21,84 0.00 0.00 0.00 0.00 4,005 0.00 62,31 20,80 0.00
975.9 948.8
current 9.00 .75 5.64 2.50
6 5
period
Year 2023
In RMB
Semi-annual 2023
Other equity Other
instruments Capit Less: comp Speci Speci Total
Items Share Retai
Perpe al treas rehen al al owne
capita Prefe ned Other
tual reser ury sive reser reser r's
l rred Other profit
bond ves stock incom ve ve equity
stock e
s
1. Balance 506,5 1,577 98,85 100,9 689,5 2,973
at the end 21,84 0.00 0.00 0.00 ,392, 0.00 5,668 0.00 09,66 27,36 ,207,
of the 9.00 975.9 .75 1.32 8.58 523.6
22
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
previous 6 1
year
Add:
Change of
0.00
accounting
policy
Co
rrecting of
0.00
previous
errors
Ot
0.00
her
2. Balance
1,577 2,973
at the 506,5 98,85 100,9 689,5
,392, ,207,
beginning of 21,84 0.00 0.00 0.00 0.00 5,668 0.00 09,66 27,36 0.00
975.9 523.6
the current 9.00 .75 1.32 8.58
6 1
year
3. Changes
in
increase/de - -
crease in 54,95 16,71 16,66
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
the current 0.70 9,201 4,250
period ("-" .06 .36
for
decrease)
(I) Total 13,67 13,72
54,95
comprehen 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,109 0.00 7,060
0.70
sive income .88 .58
(II)
Contribution
and
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
withdrawal
of capital by
owners
1. Common
stock
0.00
contributed
by owners
2. Capital
invested by
holders of 0.00
other equity
instruments
3. Share-
based
payment
0.00
recognized
in owners'
equity
4. Others 0.00
- -
(III) Profit 30,39 30,39
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
distribution 1,310 1,310
.94 .94
23
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
1.
Withdrawal
0.00
of surplus
reserve
2.
Distribution - -
to owners 30,39 30,39
(or 1,310 1,310
shareholder .94 .94
s)
3．Other 0.00
(4) Internal
carry-
forward of 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
owners'
equity
1. Capital
reserve
transferred
to paid-in 0.00
capital (or
share
capital)
2. Surplus
reserve
transferred
to paid-in 0.00
capital (or
share
capital)
3．Making
up losses
0.00
by surplus
reserves.
4. Changes
in defined
benefit
plans
0.00
carried
forward to
retained
earnings
5. Other
comprehen
sive income
0.00
transferred
to retained
earnings
6. Others 0.00
(V) Special
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
reserves
1.
Withdrawal 0.00
in the
24
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
current
period
2. Utilization
in the
0.00
current
period
(VI) Others 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4. Balance
1,577 2,956
at the end 506,5 98,91 100,9 672,8
,392, ,543,
of the 21,84 0.00 0.00 0.00 0.00 0,619 0.00 09,66 08,16 0.00
975.9 273.2
current 9.00 .45 1.32 7.52
6 5
period
3. Company profile
Shenzhen Textile (Holdings) Co., Ltd (hereinafter referred to as "the Company") is a company limited by shares
registered in Guangdong Province, formerly known as Shenzhen Textile Industry Company and established in 1984.
The Company was listed on the Shenzhen Stock Exchange in August 1994. The Company publicly issued RMB
ordinary shares (A shares) and domestic listed foreign capital shares (B shares) to the domestic and foreign public
respectively and listed them for trading.
Headquartered in Shenzhen, Guangdong Province, the main business of the Company and its subsidiaries
(hereinafter referred to as "the Group") includes the research and development, production and marketing of polarizers
for liquid crystal display, as well as property management business mainly located in the prosperous commercial area
of Shenzhen and textile and garment business.
The consolidated and parent company financial statements have been approved by the Board of Directors of the
Company on August 21, 2024.
4. Preparation Basis of Financial Statements
1. Basis of preparation
The Group implements the accounting standards for enterprises and related regulations promulgated by the
Ministry of Finance. In addition, the Group also discloses relevant financial information in accordance with the No. 15
Compilation Rules for Disclosure of Information by Companies ofIssuing Securities to the Public-General Provisions
for Financial Reporting (2023 Revision).
2. Going concern
The Group evaluated its ability to continue as a going concern for the 12 months from June 30, 2024 and found no
matters or circumstances that raised significant doubts about its ability to continue as a going concern. Accordingly,
the present financial reporthas been prepared on the basis of going concern assumptions.
5. Important accounting policies and estimates
Tips on specific accounting policies and accounting estimates:
25
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
The Group's accounting is based on the accrual basis. Except for certain financial instruments-which are
measured at fair value, the financial reportusesthe historical cost as the measurement basis. If the asset is impaired,
the corresponding impairment provision will be made in accordance with the relevant regulations.
Under historical cost measurement, an asset is measured at the fair value of the amount of cash or cash
equivalents paid or the consideration paidat the time of acquisition. Liabilities are measured by the amount of money
or assets actually received as a result of the present obligation is assumed, or the contractual amount of the present
obligation is incurred, or the amount of cash or cash equivalents expected to be paid in the ordinary course of life to
repay the liability.
Fair value is the price that market participants shall have to receive for the sale of an asset or shall to pay for a
transfer of a liability in an orderly transaction that occurs on the measurement date. Whether the fair value is
observable or estimated using valuation techniques, the fair value measured and disclosed in this financial report is
determined on that basis.
For financial assets that use the transaction price as the fair value at the time of initial recognition, and a valuation
technique involving unobservable inputs is used in subsequent measures of fair value, the valuation technique is
corrected during the valuation process so that the initial recognition result determined by the valuation technique is
equal to the transaction price.
Fair value measurement is divided into three levels as to the observability of fair value inputs, and the importance
of such inputs to fair value measurement as a value inputs, and the importance of such inputs to fair value
measurement as a whole:
The first level of input is the unadjusted quotation of the same asset or liability in an active market that can be
obtained at the measurement date.
The second-level input value is the input value that is directly or indirectly observable for the underlying asset or
liability in addition to the first-level input.
The third level input value is the unobservable input value of the underlying asset or liability.
1. Statement of Compliance with Accounting Standard for Business Enterprises
The financial report prepared by the Company complies with the requirements of the Accounting Standards for
Business Enterprises and truly and completely reflects the consolidated and parent financial position of the Company
as of June 30, 2024 and the consolidated and parent operating results, the consolidated and parent shareholders'
equity changes and the consolidated and parent cash flows for 2024 semi-year.
2. Accounting period
The fiscal year of the Company is the Gregorian calendar year, i.e. from January 1 to December 31 of each year.
3. Operating cycle
The operating cycle is the period from the time an enterprise purchases an asset for processing to the realization
of cash or cash equivalents. The Company's business cycle is 12 months.
4. Functional currency
RMB is the currency in the main economic environment in which the Company and its domestic subsidiaries
operate, and the Company and its domestic subsidiaries use RMB as the base accounting currency. The overseas
26
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
subsidiaries of the Company determine RMB as their base accounting currency according to the currency of the main
economic environment in which they operate. The currency used by the Company in the preparation of this financial
report is RMB.
5. Determination method and selection basis of materiality criteria
√Applicable □Not applicable
Items Material criteria
Receivables for a significant single provision for bad The proportion of individual item exceeds 0.5% of total
debts assets
The amount of single recovery or reversal accounts for
Important accounts receivable for the recovery or reversal more than 10% of the total amount of recovery or reversal
of bad debt reserves of bad debt reserves of corresponding receivables, and
the amount exceeds RMB 10 million
The proportion of individual item exceeds 0.5% of total
Significant prepayments that are more than 1 year old
assets
Important accounts payable, account collected in
The proportion of individual item exceeds 0.5% of total
advance, contract liabilities, and other payables that are
assets
over one year old
Cash received in connection with significant investment
Amount exceeding RMB 50 million
activities
Payments of cash in connection with significant
Amount exceeding RMB 50 million
investment activities
More than 10% of total assets, or total revenues or total
Significant non-wholly owned subsidiary
profits
Significant joint ventures or associates Net assets account for more than 5%
6. Accounting treatment methods of business merger under the common control and not
under the common control
Business combinations are divided into business combinations under common control and business combinations
under non-common control.
6.1 Business combinations under common control
The enterprises participating in the merger are ultimately controlled by the same party or multiple parties before
and after the merger, and the control is not temporary, therefore it is a business combination under the common
control.
Assets and liabilities acquired in a business combination are measured at their carrying value on the consolidated
party at the date of consolidation. The difference between the carrying amount of net assets acquired by the merging
party and the carrying amount of the merger consideration paid is adjusted for the equity premium in the capital
reserve or for retained earnings if the equity premium is insufficient to be offset.
Direct expenses incurred in connection with the business combination are recognized in profit or loss for the
period when incurred.
6.2 Business combinations and goodwill under non-common control
27
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
The enterprises participating in a merger are not ultimately controlled by the same party or multiple parties before
and after the merger, therefore it is a business combination under non-common control.
Consolidation cost is the fair value of assets paid, liabilities incurred or assumed and equity instruments issued to
gain control of the acquired partyby the purchaser. Intermediary fees such as auditing, legal services, valuation
consulting and other related management expenses incurred by the purchaser for the business combination are
recognized in the profit or loss of the period when incurred.
The identifiable assets, liabilities and contingent liabilities of the acquiree that are eligible for recognition acquired
by the purchaser in the merger are measured at fair value at the date of purchase.
The excess of the cost of the combination over the fair value of the acquirer's share of the identifiable net assets
acquired is recognized, as an asset, as goodwill and initially measured at cost. If the cost of the merger is less than the
fair value share of the acquiree's identifiable net assets acquired in the merger, the fair value of the acquired
acquiree's identifiable assets, liabilities and contingent liabilities and the measurement of the cost of the merger are
first reviewed, and if the consolidated cost after review is still less than the fair value share of the acquiree's identifiable
net assets share acquired in the merger, which shall be included in profit or loss for the periodoccurred.
Goodwill resulting from business combinations is presented separately in the consolidated financial statement and
measured at cost less accumulated impairment provisions.
7. Control criteria and preparation method of consolidated financial statements
7.1 Criteria for control judgment
Control means that the investor has the power over the investee, enjoys variable returns by participating in the
related activities of the investee, and has the ability to influence the amount of returns by using the power over the
investee. The Group will reassess the relevant elements involved in the above definition of controls as a result of
changes in the relevant facts and circumstances.
7.2. Methodology for the preparation of consolidated financial statement
The consolidated scope of the consolidated financial statement is determined on a control basis.
The merger of subsidiaries begins when the Group acquires control of the subsidiary and terminates when the
Group loses control of the subsidiary.
For subsidiaries disposed of by the Group, the results of operations and cash flows prior to the date of disposal
(the date of loss of control) have been duly included in the consolidated statement of income and the consolidated
statement of cash flows.
For subsidiaries acquired through a business combination under non-common control, the results of operations
and cash flows from the date of purchase (the date of acquisition of control) have been appropriately included in the
consolidated statement of income and the consolidated statement of cash flows.
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For subsidiaries acquired through a business combination under common control, regardless of when the
business combination takes place in any point of the reporting period, the subsidiary shall be deemed to be included in
the scope of the Group's consolidation on the date on which the subsidiary is under the control of the ultimate
controlling party, the results of operations and cash flows from the beginning of the earliest period of the reporting
period are duly included in the consolidated income statement and the consolidated statement of cash flows.
The principal accounting policies and the accounting periods adopted by the subsidiaries are determined in
accordance with the accounting policies and accounting periods uniformly prescribed by the Company.
The impact of the Company's internal transactions with its subsidiaries and between subsidiaries on the
consolidated financial statement is offset at the time of consolidation.
The shares of the subsidiary's ownership interest that are not part of the parent company are shown as minority
interests under the item "minority interests" under the item on shareholders' equity in the consolidated balance sheet.
The shares of the subsidiary's net profit or loss for the period that belongs to minority interests is shown under the item
"minority profit and loss" under the net profit item in the consolidated statement of income.
The minority shareholders’ share of the subsidiary's losses exceeds the minority shareholders’ share of
ownership interest enjoyed in the beginning of the period, and its balance is still offset by the minority shareholders’
equity.
For transactions that purchase minority stakes in a subsidiary or dispose of part of the equity investment without
losing control of the subsidiary, it’s accounted as equity transactions, and the carrying amount of the owner's interest
and minority interest attributable to the parent company is adjusted to reflect their change in the relevant interest in the
subsidiary. The difference between the adjustment of minority interests and the fair value of the consideration
paid/received is adjusted to the capital reserve, and if the capital reserve is insufficient to offset it, then it’s adjusted
to the retained earnings.
8. Classification of joint venture arrangements and accounting treatment of joint operations
Joint arrangements are divided into commonly-operated ventures and jointly-operated ventures, which are
determined in accordance with the rights and obligations of the joint venture parties in the joint venture arrangement by
taking into account factors such as the structure, legal form and contractual terms of the arrangement. Commonly-
operated refers to a joint arrangement in which the joint venture parties enjoy the assets related to the arrangement
and bear the liabilities related to the arrangement. The jointly-operated is a joint arrangement in which the joint venture
party has rights only to the net assets of the joint arrangement.
The Group's investments in joint ventures are accounted by using the equity method. Please see Note "Long-term
equity investments".
9. Recognition criteria for cash and cash equivalents
Cash refers to cash on hand and deposits that can be used to pay at any time. Cash equivalents refer to
investments held by the Group for a short period (generally within three months from the date of purchase), highly
liquid, easily convertible into a known amount of cash, and with little risk of change in value.
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10. Foreign currency transactions and conversion of foreign currency financial statements
10.1 Foreign currency transactions
Foreign currency transactions are initially recognized at an exchange rate similar to the spot exchange rate on the
date of the transaction, and the exchange rate similar to the spot rate on the date of the transaction is determined in a
systematic and reasonable manner.
At the balance sheet date, foreign currency monetary items are converted into RMB using the spot exchange rate
on that date, and the exchange difference arising from the difference between the spot exchange rate on that date and
the spot exchange rate at the time of initial recognition or the day preceding the balance sheet date, except: (1) the
exchange difference of foreign currency special borrowings eligible for capitalization is capitalized during the
capitalization period and included in the cost of the underlying asset; (2) The exchange difference of hedging
instruments for hedging in order to avoid foreign exchange risk is treated according to the hedge accounting method;
(3) The exchange difference results from changes in other carrying balances other than amortized cost for monetary
items classified as measured at fair value and changes in which are included in other comprehensive income, it shall
be recognized as profit or loss for the period.
Where the preparation of the consolidated financial statement involves overseas operations, if there are foreign
currency monetary items that substantially constitute net investment in overseas operations, the exchange difference
arising from exchange rate changes is included in the "foreign currency statement translation difference" item included
in other comprehensive income; When disposing of overseas operations, it is included in the profit or loss of the period
of disposal.
Foreign currency non-monetary items measured at historical cost are still measured at the base currency amount
translated at the spot exchange rate on the date of the transaction. Foreign currency non-monetary items measured at
fair value are converted at the spot exchange rate of the fair value determination date. The difference between the
converted amount in the functional currency and the original recorded amount in the functional currency is treated as a
fair value change (including changes of exchange rate), and is recognized in the current profit or loss or as other
comprehensive income.
10.2 Translation of foreign currency financial statements
For the purpose of preparing consolidated financial statement, foreign currency financial statements for overseas
operations are converted into RMB statements in the following manner: all assets and liabilities in the balance sheet
are converted at the spot exchange rate at the balance sheet date; Shareholders' equity items are converted at the
spot exchange rate at the time of incurrence; All items in the income statement and items reflecting the amount of
profit distribution are converted at an exchange rate similar to the spot exchange rate on the date of the transaction;
The difference between the converted asset items and the total of liability items and shareholders' equity items is
recognized as other comprehensive income and included in shareholders' equity.
Foreign currency cash flows and cash flows of overseas subsidiaries are translated using exchange rates similar
to the spot exchange rate on the occurrence date of cash flow, and the impact amount of exchange rate changes on
cash and cash equivalents is used as a reconciliation item and is shown separately in the statement of cash flows as
"Impact of exchange rate changes on cash and cash equivalents".
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The prior-year year-end amounts and the prior-year actual are presented on the basis of the amounts converted
from the prior-year financial statement.
Where the Group losses control of overseas operations due to disposing of all the ownership interests in overseas
operations or the disposal of part of the equity investment or other reasons, the difference in the translation of the
foreign currency statements in the ownership interests attributable to the parent company related to the overseas
operations shown below the items of shareholders' equity in the balance sheet shall be transferred to the profit or loss
of the period of disposal.
Where the proportion of equity interests held in overseas operations decreases due to the disposal of part of the
equity investment or other reasons without lost the control of the overseas operations, the difference in the translation
of foreign currency statements related to the disposal part of the overseas operations shall be attributed to the minority
shareholders' interests and shall not be transferred to the profit or loss of the period. When disposing of a portion of
equity in overseas operations that are joint ventures or associates, the foreign currency translation differences related
to the overseas operations are transferred to the disposal period's profit or loss in proportion to the disposal scale.
11. Financial instruments
The Group recognizes a financial asset or financial liability when it becomes a party to a financial instrument
contract.
In the case of the purchase or sale of financial assets in the usual manner, it shall recognize the assets to be
received and the liabilities to be incurred on the transaction date, or derecognize the assets sold on the transaction
date.
Financial assets and financial liabilities are measured at fair value at initial recognition (For the method of
determining the fair value of financial assets and financial liabilities, please refer to the relevant disclosure of
"Accounting Basis and Pricing Principles" in Note (II)). For financial assets and financial liabilities measured at fair
value and changes in which are recorded in profit or loss for the period, the related transaction costs are recognized
directly in profit or loss for the period; For other categories of financial assets and financial liabilities, the related
transaction costs are included in the initial recognition amount. Where the Group initially recognizes accounts
receivable that do not contain a material financing component or do not take into account the financing component in a
contract not older than one year in accordance with No. 14Accounting Standard for Business Enterprises-Revenue
(the "Revenue Standard"), the initial measurement is made at the transaction price as defined by the revenue standard.
The effective interest rate method refers to the method of calculating the amortized cost of financial assets or
financial liabilities and apportioning interest income or interest expense into each accounting period.
The effective interest rate is the interest rate used to discount the estimated future cash flows of a financial asset
or financial liability over the expected life of the financial asset to the carrying balance of the financial asset or the
amortized cost of the financial liability. In determining the effective interest rate, the expected cash flow is estimated
taking into account all contractual terms of the financial asset or financial liability (such as early repayment, rollover,
call option or other similar option, etc.), without taking into account the expected credit loss.
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The amortized cost of a financial asset or financial liability is the amount initially recognized less the principal
repaid, plus or minus the accumulated amortization resulting from the amortization of the difference between the initial
recognition amount and the amount due date using the effective interest rate method, and then deduct the
accumulated provision for losses (for financial assets only).
11.1 Classification, recognition and measurement of financial assets
After initial recognition, the Group conducts subsequent measurements of different classes of financial assets at
amortized cost, measured at fair value and changes in which are recognized in other comprehensive income, or
measured at fair value and changes in which are recorded in profit or loss for the period.
The contractual clauses of a financial asset provide that the cash flows generated on a given date are only the
payment of principal and interest based on the outstanding principal amount, and the Group's business model is aimed
for managing the financial asset is to collect contractual cash flows, then the Group classifies the financial asset as a
financial asset measured at amortized cost. Such financial assets mainly include monetary funds, notes receivable,
accounts receivable and other receivables.
If the contractual terms of a financial asset stipulate that the cash flows generated on a specific date are solely
payments of principal and interest on the outstanding principal amount, and the Group's business model for managing
the financial asset is both to collect contractual cash flows and to sell the financial asset, then the financial asset is
classified as measured at fair value through other comprehensive income. Such financial assets with a maturity of
more than one year from the date of acquisition are listed as other debt investments, and if they mature within one
year (inclusive) from the balance sheet date, they are shown as non-current assets maturing within one year; Accounts
receivable and notes receivable classified as measured at fair value and changes in which are recognized in other
comprehensive income at the time of acquisition are shown in receivables financing, and the other acquired with a
maturity of one year (inclusive) are shown in other current assets.
At initial recognition, the Group may irrevocably designate investments in non-tradable equity instruments other
than contingent consideration recognized in business combinations that are under non-common control as financial
assets measured at fair value and changes in which are recognized in other comprehensive income on a single
financial asset basis. Such financial assets are listed as investments in other equity instruments.
Where a financial asset meets any of the following conditions, it indicates that the Group's purpose in holding the
financial asset is transactional:
The purpose of acquiring the underlying financial asset is primarily for the purpose of the recent sale.
The underlying financial assets were part of a centrally managed portfolio of identifiable financial instruments at
the time of initial recognition and there was objective evidence of an actual pattern of short-term profits in the recent.
The related financial asset is a derivative instrument. Except for derivatives that meet the definition of financial
guarantee contract and derivatives that are designated as effective hedging instruments.
Financial assets measured at fair value and changes in which are recorded in profit or loss for the period include
financial assets classified as measured at fair value and changes in which are recorded in profit or loss for the period
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and financial assets designated as measured at fair value and changes in which are recorded in profit or loss for the
period:
Financial assets that do not qualify as financial assets measured at amortized cost and financial assets measured
at fair value and changes in which are included in other comprehensive income are classified as financial assets
measured at fair value and changes in which are recorded in profit or loss for the period.
At the time of initial recognition, in order to eliminate or significantly reduce accounting mismatches, the Group
may irrevocably designate financial assets as financial assets measured at fair value and changes in which are
recorded in profit or loss for the period.
Financial assets measured at fair value through the current profit or loss are presented as trading financial assets.
Financial assets that are due to mature (or have no fixed maturity) more than one year from the Balance Sheet date
and are expected to be held for more than one year are presented as other non-current financial assets.
11.1.1 Financial assets measured at amortized cost
Financial assets measured at amortized cost are subsequently measured at amortized cost using the effective
interest rate method, and the gains or losses arising from impairment or derecognition are included in profit or loss for
the period.
The Group recognizes interest income on financial assets measured at amortized cost in accordance with the
effective interest rate method. For financial assets purchased or derived that have incurred credit impairment, the
Group determines interest income based on the amortized cost of the financial asset and the credit-adjusted effective
interest rate from the initial recognition. In addition, the Group determines interest income based on the carrying
balance of financial assets multiplied by the effective interest rate.
11.1.2 Financial assets measured at fair value and changes in which are recorded in other comprehensive income
Impairment losses or gains and interest income calculated using the effective interest rate methodrelated to
financial assets classified as measured at fair value and changes in which are included in other comprehensive
income are recognized in profit or loss for the period, and except that, changes in the fair value of such financial assets
are recognized in other comprehensive income. The amount of the financial asset recognized in profit or loss for each
period is equal to the amount that is recognized in profit or loss for each period as if it had been measured at
amortized cost. When the financial asset is derecognized, the accumulated gain or loss previously recognized in other
comprehensive income is transferred from other comprehensive income and recognized in profit or loss for the period.
Changes in fair value in investments in non-traded equity instruments designated as measured at fair value and
the change in which are recognized in other comprehensive income are recognized in other comprehensive income,
and when the financial asset is derecognized, the accumulated gain or loss previously recognized in other
comprehensive income is transferred from other comprehensive income to retained earnings. During the period during
which the Group holds the investment in the non-tradable equity instrument, the dividend income is recognized and
recorded in profit or loss for the period when the Group's right to receive dividends has been established, the
economic benefits associated with the dividends are likely to flow into the Group and the amount of the dividends can
be reliably measured.
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11.1.3 Financial assets measured at fair value and changes in which are recorded in profit or loss for the period
Financial assets measured at fair value and changes in which are recorded in profit or loss for the period are
subsequently measured at fair value, and gains or losses resulting from changes in fair value and dividends and
interest income related to the financial asset are recorded in profit or loss for the period. 11.2 Impairment of Financial
Instruments
11.2 Impairment of financial instruments
The Group performs impairment accounting and recognizes loss provisions for financial assets measured at
amortized cost, financial assets classified as measured at fair value and changes in which are recognized in other
comprehensive income, and lease receivables based on expected credit losses.
The Group measures the loss provision at an amount equivalent to the expected credit loss over the life of notes
receivable and accounts receivable formed by transactions regulated by revenue standards that do not contain a
material financing element or do not take into account the financing component of contracts not exceeding one year,
as well as operating leases receivable arising from transactions regulated by No. 21Accounting Standard for Business
Enterprises -Leases.
For other financial instruments, the Group assesses the change in the credit risk of the relevant financial
instruments since initial recognition at each balance sheet date, except for financial assets purchased or derived that
have incurred credit impairment. If the credit risk of the Financial Instrument has increased significantly since the initial
recognition, the Group measures its loss provision by an amount equivalent to the expected credit loss over the life of
the financial instrument; If the credit risk of the financial instrument does not increase significantly since the initial
recognition, the Group measures its loss provision by an amount equivalent to the expected credit loss of the financial
instrument in the next 12 months. Increases or reversals of credit loss provisions are recognized as impairment losses
or gains in profit or loss for the period, except for financial assets classified as measured at fair value and changes in
which are recognized in other comprehensive income. For financial assets classified as measured at fair value and the
change thereof is recorded in other comprehensive income, the Group recognizes a credit loss provision in other
comprehensive income and includes impairment losses or gains in profit or loss for the period without reducing the
carrying amount of the financial asset as shown in the balance sheet.
Where the Group has measured a loss provision in the preceding accounting period by an amount equivalent to
the expected credit loss over the life of the financial instrument, but the financial instrument is no longer subject to a
significant increase in credit risk since the initial recognition at the period balance sheet date, the Group measures the
loss provision for the financial instrument at the period balance sheet date by an amount equivalent to the expected
credit loss in the next 12 months, and the resulting reversal amount for loss provision is recognized as an impairment
gain in profit or loss for the period.
11.2.1 Significant increase in credit risk
Using reasonably and evidence-based forward-looking information available, the Group compares the risk of
default on financial instruments at the balance sheet date with the risk of default on the initial recognition date to
determine whether the credit risk of financial instruments has increased significantly since initial recognition.
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In assessing whether credit risk has increased significantly, the Group will consider the following factors:
(1) Whether the internal price indicators have changed significantly due to changes in credit risk.
(2) Whether the interest rate or other terms of an existing financial instrument have changed significantly (e.g.,
stricter contractual terms, additional collateral or higher yields) if the existing financial instrument is derived or issued
as a new financial instrument at the balance sheet date.
(3) Whether there has been a significant change in the external market indicators of the credit risk of the same
financial instrument or similar financial instruments with the same estimated duration. These indicators include: credit
spreads, credit default swap prices for borrowers, the length and extent to which the fair value of financial assets is
less than their amortized cost, and other market information relevant to borrowers (such as changes in the price of
borrowers' debt or equity instruments).
(4) Whether there has been a significant change in the external credit rating of the financial instrument in fact or
expectation.
(5) Whether the actual or expected internal credit rating of the debtor has been downgraded.
(6) Whether there has been an adverse change in business, financial or economic circumstances that is expected
to result in a significant change in the debtor's ability to meet its debt servicing obligations.
(7) Whether there has been a significant change in the debtor's operational results, either actual or expected.
(8) Whether the credit risk of other financial instruments issued by the same debtor has increased significantly.
(9) Whether there has been a significant adverse change in the regulatory, economic or technical environment in
which the debtor is located.
(10) Whether there has been a significant change in the value of the collateral used as collateral for the debt or in
the quality of the guarantee or credit enhancement provided by a third party. These changes are expected to reduce
the economic incentive for the debtor to repay the loan within the term specified in the contract or affect the probability
of default.
(11) Whether there has been a significant change in the economic incentive expected to reduce the borrower's
repayment within the term agreed in the contract.
(12) Whether there has been a change in the expectations of the loan contract, including the waiver or
amendment of contractual obligations that may result from the anticipated breach of the contract, the granting of
interest-free periods, interest rate jumps, requests for additional collateral or guarantees, or other changes to the
contractual framework of financial instruments.
(13) Whether there has been a significant change in the debtor's expected performance and repayment behavior.
(14) Whether the Group's credit management methods for financial instruments have changed.
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Regardless of whether the credit risk has increased significantly after the above assessment, when the payment
of a financial instrument contract has been overdue for more than (inclusive) 30 days, it indicates that the credit risk of
the financial instrument has increased significantly.
At the balance sheet date, if the Group determines that a financial instrument has only a low credit risk, the Group
assumes that the credit risk of the financial instrument has not increased significantly since its initial recognition. A
financial instrument is considered to have a low credit risk if it has a low risk of default, the borrower's ability to meet its
contractual cash flow obligations in the short term is strong, and even if there are adverse changes in the economic
situation and operating environment over a longer period of time that do not necessarily reduce the borrower's
performance of its contractual cash obligations.
11.2.2 Financial assets that have undergone credit impairment
Where one or more events occur in which the Group expects to adversely affect the future cash flows of a
financial asset, the financial asset becomes a financial asset that has experienced credit impairment. Evidence that
credit impairment of financial assets has occurred includes the following observable information:
Significant financial difficulties of the issuer or debtor;
Breach of contract by the debtor, such as default or delay in payment of interest or principal;
The creditor gives the debtor concessions under economic or contractual considerations relating to the debtor's
financial difficulties that would not have been made under any other circumstances;
The debtor is likely to go bankrupt or undergo other financial restructuring;
The financial difficulties of the issuer or debtor that result in the disappearance of an active market for that
financial asset;
Purchase or derive a financial asset at a substantial discount that reflects the fact that a credit loss has occurred.
Based on the Group's internal credit risk management, the Group considers an event of default to have occurred
when the internally advised or externally obtained information indicates that the debtor of the financial instrument
cannot fully pay creditors including the Group (without regard to any security obtained by the Group).
Notwithstanding the above assessment, if a contract payment for a financial instrument is overdue for more than
90 days(inclusive), the Group presumes that the financial instrument has defaulted.
11.2.3 Determination of expected credit loss
For financial assets and lease receivables, the expected credit loss is the present value of the difference between
the contractual cash flows due to the Group and the cash flows expected to be collected.
The reflection factors of the Group's methodology for measuring expected credit losses on financial instruments
include: an unbiased probability-weighted average amount determined by evaluating a range of possible outcomes;
the time value of money; reasonable and well-founded information about past events, current conditions, and
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
projections of future economic conditions that can be obtained at the balance sheet date without unnecessary
additional costs or efforts.
11.2.4 Write-down of Financial Assets
Where the Group no longer reasonably expects that the contractual cash flows of financial assets will be
recovered in whole or in part, the carrying balance of the financial assets will be written down directly. Such write-
downs constitute derecognition of the underlying financial assets.
11.3 Transfer of Financial Assets
Financial assets that meet one of the following conditions are derecognized: (1) the contractual right to receive
cash flows from the financial asset is terminated; (2) the financial asset has been transferred and substantially all of
the risks and rewards in the ownership of the financial asset have been transferred to the transferring party; (3) the
financial asset has been transferred, and although the Group has neither transferred nor retained substantially all of
the risks and rewards in the ownership of the financial asset, it has not retained control over the financial asset.
Where the Group neither transfers nor retains substantially all of the risks and rewards in ownership of a financial
asset, and retains control of the financial asset, it will continue to recognize the transferred financial asset to the extent
that it continues to be involved in the transferred financial asset and recognize the relevant liabilities accordingly. The
Group measures the related liabilities as follows:
For transferred financial assets measured at amortized cost, the carrying amount of the related liability equals the
carrying amount of the continuing involvement in the transferred financial assets minus the amortized cost of any rights
retained by the Group (if the Group retained any rights due to the transfer of financial assets) plus the amortized cost
of any obligations assumed by the Group (if the Group has assumed any obligations due to the transfer of financial
assets), and the related liabilities are not designated as financial liabilities at fair value through current profit or loss.
Where the transferred financial assets are measured at fair value, the carrying amount of the relevant liabilities is
equal to the carrying amount of the financial assets that continue to be involved in the transferred financial assets less
the fair value of the rights retained by the Group (if the Group retains the relevant rights as a result of the transfer of
financial assets) plus the fair value of the obligations assumed by the Group (if the Group has assumed such
obligations as a result of the transfer of financial assets), the fair value of such rights and obligations is the fair value
when measured on an independent basis.
If the overall transfer of financial assets satisfies the conditions for derecognition, the difference between the
carrying amount of the transferred financial assets at the derecognition date and the consideration received as a result
of the transfer of the financial and the sum of the amount corresponding to the derecognition portion of the
accumulated fair value change originally included in other comprehensive income is included in profit or loss for the
period. If the Group transfers financial assets that are investments in non-traded equity instruments designated as
measured at fair value and changes in which are recognized in other comprehensive income, the accrued gains or
losses previously recognized in other comprehensive income are transferred from other comprehensive income and
recorded in retained earnings.
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
If a partial transfer of financial assets satisfies the conditions for derecognition, the carrying amount of the financial
assets as a whole before the transfer is apportioned between the derecognized portion and the continuing recognition
portion at the respective relative fair value on the transfer date, and the difference between the sum of the amount of
the consideration received in the derecognized portion and the amount corresponding to the derecognized portion of
the accumulated fair value change originally included in other comprehensive income and the carrying amount of the
derecognized portion at the derecognition date is included in profit or loss for the current period. If the Group transfers
financial assets that are investments in non-traded equity instruments designated as measured at fair value and
changes in which are recognized in other comprehensive income, the accrued gains or losses previously recognized in
other comprehensive income are transferred from other comprehensive income and recorded in retained earnings.
If the conditions for derecognition are not met for the overall transfer of financial assets, the Group continues to
recognize the transferred financial assets as a whole and recognizes the consideration received as a liability.
11.4 Classification of financial liabilities and equity instruments
The Group classifies the financial instruments or their components as financial liabilities or equity instruments at
initial recognition according to the contract terms of the financial instruments issued and their economic essence, not
just in legal form, combined with the definitions of financial liabilities and equity instruments.
11.4.1 Classification, recognition and measurement of financial liabilities
Financial liabilities are classified into financial liabilities measured at fair value through profit or loss and other
financial liabilities at initial recognition.
11.4.1.1 Financial liabilities measured at fair value through current profit or loss
Financial liabilities measured at fair value and whose changes are included in current profits and losses include
transactional financial liabilities (including derivatives belonging to financial liabilities) and financial liabilities designated
as measured at fair value and whose changes are included in current profits and losses. Except for derivative financial
liabilities which are listed separately, financial liabilities measured at fair value and whose changes are included in
current profits and losses are listed as transactional financial liabilities.
Financial liabilities that meet one of the following conditions, indicate that the purpose of the Group's financial
liabilities is transactional:
The purpose of undertaking relevant financial liabilities is mainly to repurchase in the near future.
The relevant financial liabilities are part of the identifiable financial instrument portfolio under centralized
management at the initial recognition, and there is objective evidence to show the actual short-term profit model in the
near future.
Related financial liabilities are derivatives. Except for derivatives that meet the definition of financial guarantee
contract and derivatives that are designated as effective hedging instruments.
The Group can designate financial liabilities that meet one of the following conditions as financial liabilities
measured at fair value and whose changes are included in current profits and losses at initial recognition: (1) The
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
designation can eliminate or significantly reduce accounting mismatch; (2) According to the risk management or
investment strategy stated in the formal written documents of the Group, the financial liability portfolio or the portfolio of
financial assets and financial liabilities are managed and evaluated on the basis of fair value, and reported to key
management personnel within the Group on this basis; (3) Qualified mixed contracts containing embedded derivatives.
Transactional financial liabilities are subsequently measured at fair value, and gains or losses caused by changes
in fair value and dividends or interest expenses related to these financial liabilities are included in current profits and
losses.
For financial liabilities designated as being measured at fair value and whose changes are included in the current
profits and losses, the changes in fair value of the financial liabilities caused by changes in the Group's own credit risk
are included in other comprehensive income, and other changes in fair value are included in the current profits and
losses. When the financial liabilities are derecognized, the accumulated change of its fair value caused by the change
of their own credit risk previously included in other comprehensive income is carried forward to retained income.
Dividends or interest expenses related to these financial liabilities are included in the current profits and losses. If the
accounting mismatch in profit and loss will be caused or enlarged by handling the impact of the changes in credit risk
of these financial liabilities in the above way, the Group will include all the gains or losses of the financial liabilities
(including the amount affected by the changes in credit risk) in the current profits and losses.
11.4.1.2 Other financial liabilities
Other financial liabilities, except those caused by the transfer of financial assets that do not meet the conditions
for derecognition or continue to be involved in the transferred financial assets, are classified as financial liabilities
measured in amortized cost and subsequently measured in amortized cost. The gains or losses arising from
derecognition or amortization are included in the current profits and losses.
If the modification or renegotiation of the contract between the Group and the counterparty does not result in the
termination of the recognition of the financial liabilities that are subsequently measured according to amortized cost,
but the cash flow of the contract changes, the Group recalculates the book value of the financial liabilities and records
the relevant gains or losses into the current profits and losses. The recalculated book value of such financial liabilities
is determined by the Group according to the present value of discounted contract cash flow that will be renegotiated or
modified according to the original actual interest rate of the financial liabilities. For all costs or expenses arising from
the modification or renegotiation of the contract, the Group adjusts the book value of the modified financial liabilities
and amortizes them within the remaining term of the modified financial liabilities.
11.4.2 Derecognition of financial liabilities
If all or part of the current obligations of financial liabilities have been discharged, the recognition of financial
liabilities or part thereof shall be terminated. If the Group (the Borrower) and the Lender will sign an agreement to
replace the original financial liabilities by undertaking new financial liabilities, and the contract terms of the new
financial liabilities are substantially different from those of the original financial liabilities, the Group will derecognize the
original financial liabilities and recognize the new financial liabilities at the same time.
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
If all or part of the financial liabilities are derecognized, the difference between the book value of the derecognized
part and the consideration paid (including the transferred non-cash assets or the new financial liabilities undertaken)
will be included in the current profits and losses.
11.4.3 Equity instruments
Equity instruments refer to contracts that can prove that the Group has residual interests in assets after deducting
all liabilities. The issuance (including refinancing), repurchase, sale or cancellation of equity instruments by the Group
are treated as changes in equity. The Group does not recognize changes in the fair value of equity instruments.
Transaction costs related to equity transactions are deducted from equity.
The distribution of equity instrument holders by the Group is treated as profit distribution, and the stock dividends
paid do not affect the total shareholders' equity.
11.5 Offset of financial assets and financial liabilities
When the Group has the legal right to offset the recognized financial assets and financialliabilities, and this legal
right is currently enforceable, and the Group plans to settle the financial assets on a net basis or realize the financial
assets and pay off the financial liabilities at the same time, the financial assets and financial liabilities are listed in the
balance sheet at the amount after offsetting each other. In addition, financial assets and financial liabilities shall be
presented separately in the balance sheet and shall not be offset against each other.
12. Notes receivable
12.1 Methods for determining and accounting treatment for expected credit lossesof notes receivable
The Group individually assesses notes receivable for which there has been a significant increase in credit risk to
determine credit losses, including notes receivable that are overdue without being accepted, or where there is clear
evidence that the acceptor is likely unable to fulfill its acceptance obligations. Other notes receivable are assessed for
credit losses based on their credit risk characteristics on a portfolio basis.
The increase or reversal of the provision for expected credit losses of notes receivable shall be recognized in
profit or loss for the current period as credit impairment losses or gains.
12.2 Portfolio types and basis for determining credit loss provisions based on credit risk characteristics
Except for the notes receivable that assess the credit risk individually, the rest of the notes receivable are divided
into different portfolios based on their credit risk characteristics:
Portfolio Category Determining basis
Portfolio 1 Bank acceptance
Portfolio 2 Trade acceptance
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
13. Accounts receivable
13.1 Methods for determining expected credit losses and accounting treatment of accounts receivable
The Group uses an impairment matrix to determine the credit losses of accounts receivable on a portfolio basis.
The increase or reversal of the provision for expected credit losses of accounts receivable shall be recognized in profit
or loss for the current period as credit impairment losses or gains.
13.2 The type of portfolio and the basis for determining the provision for credit losses based on the credit risk
characteristics of the portfolio.
The Group classifies accounts receivable into portfolio 1 and 2 based on credit risk characteristics of
counterparties in different businesses. Portfolio 1 is the accounts receivable generated from polarizer business income,
and the credit loss reserve is accrued according to the overdue aging of credit period; Portfolio 2 is the accounts
receivable generated from property leasing and other business income, and the credit loss reserve is accrued
according to natural aging.
13.3 Calculation method of aging for credit risk characteristics portfolio recognized by aging
The Group uses the aging of accounts receivable as a credit risk characteristic and uses an impairment matrix to
determine its credit losses. Aging is calculated from the date of its initial recognition. If the terms and conditions of the
accounts receivable are modified but do not result in the derecognition of the accounts receivable, the aging shall be
calculated consecutively.
13.4 Determining standard of individual provision according to individual provision for bad debts
The Group assesses credit risk of accounts receivable individually due to its significant differences in credit risk
with evidence demonstrated greater credit risk.
14. Receivables financing
14.1 Determination method and accounting treatment method for expected credit loss of accounts receivable
financing
The Group determines credit losses for receivables financing based on individual assets. The Group recognizes
credit loss provisions for accounts receivable financing in other comprehensive income and includes credit impairment
losses or gains in the current period's profit and loss, without reducing the carrying amount of accounts receivable
financing presented in the balance sheet.
14.2 Judgment criteria for individual provision of credit loss reserves based on individual provision
The Group evaluates the financing of corresponding receivables based on the acceptance bank credit status of
bank acceptance bills and makes provisions for credit losses.
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
15. Other receivables
Determination method and accounting treatment method of expected credit loss of other receivables
15.1 Methods for determining expected credit losses and accounting treatment of other receivables
The Group determines the credit losses on other receivables on a portfolio basis. The increase or reversal of the
provision for expected credit losses of other accounts receivable shall be recognized in profit or loss for the current
period as credit impairment losses or gains.
15.2 Portfolio types and basis for determining credit loss provisions based on credit risk characteristics
The Group classifies other receivables into different categories based on common credit risk characteristics. The
common credit risk characteristics adopted by the Group include initial recognition date, remaining contract term, and
overdue time, etc.
15.2 Calculation method of aging for credit risk characteristics portfolio recognized by aging
Aging is calculated from the date of its initial recognition. If the terms and conditions of other receivables are
modified but do not result in the derecognition of other receivables, the aging shall be calculated consecutively.
16. Contract assets
No
17. Inventories
17.1 Inventory Category, Goods Out Pricing Method, Inventory System, Amortization Method for Low-Value
Consumables and Packaging
17.1.1 Inventory Category
The Group's inventory mainly includes raw materials, products in process, finished products and materials
entrusted for processing. Inventory is initially measured at cost, which includes purchasing cost, processing cost and
other expenses incurred to make inventory reach the current place and use state.
17.1.2 Inventory issuance valuation method
When the inventory is issued, the actual cost of the issued inventory is determined by the weighted mean method.
17.1.3 Inventory system
The inventory system is perpetual inventory system.
17.1.4 Amortization method of low-value consumables and packaging materials
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Turnover materials and low-value consumables are amortized by straight-line method or one-time write-off
method.
17.2 Recognition criteria and accrual method of provision for inventory falling price loss
On the balance sheet date, inventories are measured according to the lower of cost and net realizable value.
When the net realizable value is lower than the cost, the inventory depreciation provision is withdrawn.
Net realizable value refers to the estimated selling price of inventory minus the estimated cost, estimated sales
expenses and related taxes and fees at the time of completion in daily activities. When determining the net realizable
value of inventory, it is based on the conclusive evidence obtained, and the purpose of holding inventory and the
influence of events after the balance sheet date are also considered.
After the inventory depreciation provision is withdrawn, if the influencing factors of previous write-down of
inventory value have disappeared, resulting in the net realizable value of inventory being higher than its book value, it
will be reversed within the original amount of inventory depreciation provision, and the reversed amount will be
included in the current profits and losses.
Inventory depreciation provision is generally provisioned for on an individual inventory item basis.
18. Assets held for sale
No
19. Debt investment
No
20. Other debt investment
21. Long-term receivables
No
22. Long-term equity investments
22.1 Criteria for joint control and important influence
Control means that the investor has the power over the investee, enjoys variable returns by participating in the
related activities of the investee, and has the ability to influence the amount of returns by using the power over the
investee. Joint control refers to the common control of an arrangement according to the relevant agreement, and that
the related activities of the arrangement must be unanimously agreed by the participants who share the control rights
before making decisions. Significant influence refers to the power to participate in decision-making on the financial and
operating policies of the investee, but it cannot control or jointly control the formulation of these policies with other
parties. When determining whether the investee can be controlled or exert significant influence, the potential voting
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
rights factors such as convertible corporate bonds and current executable warrants of the investee held by investors
and other parties have been considered.
22.2 Determination of initial investment cost
For the long-term equity investment obtained by business merger under the same control, the initial investment
cost of the long-term equity investment shall be the share of the book value of the owners' equity of the merged party
in the consolidated financial statements of the final controlling party on the merger date. The capital reserve shall be
adjusted for the difference between the initial investment cost of long-term equity investment and the book value of
cash paid, non-cash assets transferred and debts undertaken; If the capital reserve is insufficient to be offset, the
retained income shall be adjusted. If equity securities are issued as the merger consideration, the initial investment
cost of long-term equity investment shall be the share of the book value of the owners' equity of the merged party in
the consolidated financial statements of the final controlling party on the merger date, the share capital shall be the
total face value of issued shares, and the capital reserve shall be adjusted according to the difference between the
initial investment cost of long-term equity investment and the total face value of the issued shares; If the capital
reserve is insufficient to be offset, the retained income shall be adjusted.
For the long-term equity investment obtained from the business merger not under the same control, the initial
investment cost of the long-term equity investment shall be the merger cost on the purchase date.
Intermediary expenses such as audit, legal services, evaluation and consultation and other related management
expenses incurred by the merging party or the purchaser for business merger are included in the current profits and
losses when incurred.
Long-term equity investment obtained by other means except the long-term equity investment formed by business
merger shall be initially measured at cost. If the additional investment can exert a significant influence or implement
joint control which however does not constitute control on the investee, the long-term equity investment cost is the sum
of the fair value of the original equity investment determined in accordance with the Accounting Standards for
Business Enterprises No.22-Recognition and Measurement of Financial Instruments plus the new investment cost.
22.3 Subsequent measurement and profit and loss recognition method
22.3.1 Long-term equity investment calculated by cost method
The parent company's financial statements use the cost method to calculate the long-term equity investment in
subsidiaries. Subsidiaries refer to the invested entities over which the Group can exercise control.
Long-term equity investment accounted by cost method is measured at the initial investment cost. Add or recover
investment to adjust the cost of long-term equity investment. The current investment income is recognized according
to the cash dividend or profit declared by the investee.
22.3.2 Long-term equity investment calculated by equity method
The Group's investment in associated enterprises and joint ventures is accounted for by the equity method. An
associated enterprise refers to the investee over which the Group can exert significant influence, and a joint venture
refers to a joint venture arrangement in which the Group has rights only over the net assets of the arrangement.
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
When accounting using the equity method, if the initial investment cost of a long-term equity investment is greater
than the share of the fair value of identifiable net assets of the invested entity at the time of investment, the initial
investment cost of the long-term equity investment is not adjusted; If the initial investment cost is less than the fair
value share of the identifiable net assets of the investee, the difference shall be included in the current profits and
losses, and the cost of long-term equity investment shall be adjusted.
When accounting by the equity method, the investment income and other comprehensive income are recognized
respectively according to the share of the net profit and loss and other comprehensive income realized by the investee,
and the book value of long-term equity investment is adjusted; The share is calculated according to the profit or cash
dividend declared by the investee, and the book value of long-term equity investment is reduced accordingly; For other
changes in the owners' equity of the investee except the net profit and loss, other comprehensive income and profit
distribution, the book value of the long-term equity investment shall be adjusted and included in the capital reserve.
When recognizing the share of the net profit and loss of the investee, the net profit of the investee shall be adjusted
and recognized based on the fair value of the identifiable assets of the investee at the time of investment. If the
accounting policies and accounting periods adopted by the investee are inconsistent with those of the Company, the
financial statements of the investee shall be adjusted according to the accounting policies and accounting periods of
the Company, so as to recognize the investment income and other comprehensive income. For the transactions
between the Group and the associated enterprises and joint ventures, if the assets invested or sold do not constitute
business, the unrealized internal transaction gains and losses shall be offset by the portion belonging to the Group
according to the proportion enjoyed, and the investment gains and losses shall be recognized on this basis. However,
the unrealized internal transaction losses between the Group and the investee belong to the impairment losses of the
transferred assets and shall not be offset.
When recognizing the share of the net loss of the investee, the book value of the long-term equity investment and
other long-term rights and interests that substantially constitute the net investment of the investee shall be written
down to zero. In addition, if the Group is obligated to bear additional losses to the investee, the estimated liabilities will
be recognized according to the expected obligations and included in the current investment losses. If the investee
realizes the net profit in the future, the Group will resume the recognition of the income share after the income share
makes up for the unrecognized loss share.
22.4 Disposal of long-term equity investment
When disposing of long-term equity investment, the difference between its book value and the actual purchase
price is included in the current profits and losses. For the long-term equity investment accounted by the equity method,
if the remaining equity after disposal is still accounted by the equity method, other comprehensive income originally
accounted by the equity method shall be accounted for on the same basis as the direct disposal of related assets or
liabilities by the investee; Owners' equity recognized by changes in other owners' equity of the investee except net
profit and loss, other comprehensive income and profit distribution shall be carried forward to current profits and losses
in proportion. If the long-term equity investment accounted for by the cost method is still accounted for by the cost
method after disposal, the other comprehensive income recognized by the equity method accounting or the recognition
of financial instruments and accounting standards before gaining control of the investee shall be accounted for on the
same basis as the direct disposal of related assets or liabilities by the investee; Changes in owners' equity other than
net profit and loss, other comprehensive income and profit distribution in the net assets of the investee recognized by
using the equity method are carried forward to the current profits and losses in proportion.
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
If the Group loses the control over the investee due to disposal of part of equity investments, in the preparation of
individual financial statements, the remaining equity after disposal that can exercise joint control or significant influence
over the investee shall be subject to accounting treatment under the equity method, and the remaining equity shall be
deemed to have been adjusted under the equity method since acquisition. If the remaining equity after disposal cannot
be jointly controlled or exert significant influence on the investee, it shall be accounted for according to the relevant
provisions of the standards for the recognition and measurement of financial instruments, and the difference between
its fair value and book value on the date of control loss shall be included in the current profits and losses. For other
comprehensive income recognized by the Group before it gains control of the investee, when it loses control of the
investee, it shall be treated on the same basis as the direct disposal of related assets or liabilities by the investee.
Changes in owners' equity in the net assets of the investee, except net profit and loss, other comprehensive income
and profit distribution, shall be carried forward to current profits and losses when it loses control of the investee. If the
remaining equity after disposal is accounted by the equity method, other comprehensive income and other owners'
equity will be carried forward in proportion; If the remaining equity after disposal is changed to accounting treatment
according to the recognition and measurement standards of financial instruments, all other comprehensive income and
other owners' equity will be carried forward.
If the Group loses joint control or significant influence on the investee due to the disposal of some equity
investments, the remaining equity after disposal shall be accounted for according to the recognition and measurement
standards of financial instruments, and the difference between its fair value and book value on the date of joint control
loss or significant influence shall be included in the current profits and losses. Other comprehensive income
recognized by the original equity investment due to accounting by the equity method shall be accounted for on the
same basis as the direct disposal of relevant assets or liabilities by the investee when the equity method is terminated.
All the owners' equity recognized by the investee due to changes in other owners' equity except net profit and loss,
other comprehensive income and profit distribution shall be carried forward to the current investment income when the
equity method is terminated.
The Group disposes of the equity investment in its subsidiaries step by step through multiple transactions until it
loses control. If the above transactions belong to a package transaction, each transaction will be treated as a
transaction that disposes of the equity investment in its subsidiaries and loses control. Before losing control, the
difference between the price of each disposal and the book value of the long-term equity investment corresponding to
the disposed equity will be recognized as other comprehensive income, and then carried forward to the current profits
and losses when it loses control. Provision forinventory falling price loss is generally made on the basis of a single
inventory item.
23. Investment properties
Measurement model of investment property
Measured under cost method
Depreciation or amortization method
Investment real estate refers to real estate held to earn rent or capital appreciation, or both, including rented
houses and buildings.
Investment real estate is initially measured at cost. Subsequent expenditures related to investment real estate are
included in the cost of investment real estate if the economic benefits related to the asset are likely to flow in and the
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
cost can be measured reliably. Other subsequent expenditures are included in the current profits and losses when
incurred.
The Group adopts a cost model for subsequent measurement of investment properties, and adopts the average
life method to provide depreciation over the useful life. The depreciation methods, depreciation periods, estimated
residual value rates and annual depreciation rates for various types of investment real estate are as follows:
Depreciation Annual
Depreciation Residual value
Category method Depreciation
period (years) rate (%)
Rate (%)
Average life
Houses, buildings 10-40 0.00-4.00 2.40-10.00
method
When the investment real estate is disposed of, or permanently withdrawn from use, and it is not expected to
obtain economic benefits from its disposal, the recognition of the investment real estate will be terminated.
The difference between the disposal income from the sale, transfer, scrapping or damage of investment real
estate after deducting its book value and related taxes is included in the current profits and losses.
24. Fixed assets
(1) Recognition conditions
Fixed assets refer to tangible assets held for producing goods, providing services, leasing or management, with a
service life of more than one fiscal year. Fixed assets are recognized only when the economic benefits related to them
are likely to flow into the Group and their costs can be measured reliably. Fixed assets are initially measured at cost.
Subsequent expenditures related to fixed assets shall be included in the cost of fixed assets if the economic
benefits related to the fixed assets are likely to flow in and the cost can be measured reliably, and the book value of
the replaced part shall be derecognized. Other subsequent expenditures are included in the current profits and losses
when incurred.
(2) Depreciation methods
Annual depreciation
Category Depreciation method Depreciation period Residual value rate
rate
Houses & buildings Average life method 10-40 0.00%-4.00% 2.40%-10.00%
Machinery
Average life method 10-14 4.00% 6.86%-9.60%
equipment
Transportation
Average life method 8 4.00% 12.00%
equipment
Electronic equipment
Average life method 5 4.00% 19.20%
and others
Fixed assets shall be depreciated within their service life by using the life-average method from the month
following the scheduled serviceable state. The depreciation methods, depreciation periods, estimated residual value
rates and annual depreciation rates for various types of fixed assets are as above.
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Estimated net salvage refers to the amount that the Group currently obtains from the disposal of fixed assets after
deducting the estimated disposal expenses, assuming that the expected service life of the fixed assets has expired
and is in the expected state at the end of the service life.
When the fixed assets are disposed of or it is expected that no economic benefits can be generated through the
use or disposal, the fixed assets is derecognized. The difference between the disposal income from the sale, transfer,
scrapping or damage of fix assets after deducting its book value and related taxes is included in the current profits and
losses.
At least at the end of the year, the Group will review the service life, estimated net salvage and depreciation
method of fixed assets, and if there is any change, it will be treated as a change in accounting estimate.
25. Construction in progress
The construction in progress is measured according to the actual cost, which includes various project
expenditures incurred during the construction period, capitalized borrowing costs before the project reaches the
scheduled serviceable state and other related expenses. No depreciation is allowed for construction in progress.
Construction in progress is carried forward as a fixed asset when it reaches the intended usable state. The
standards and timing points for the carry-forward of various types of projects under construction into fixed assets are
as follows:
The time point at which
Category The criteria for carrying forward to fixed assets it is carried forward to a
fixed asset
The equipment has been accepted by asset management
personnel and user personnel and meets one or more of
the following conditions according to the actual situation:
Installation of (1) Relevant equipment and other supporting facilities have
It has reached the
machinery and been installed;
intended usable state
equipment (2) The equipment can maintain normal and stable
operation for a period of time after debugging; (3) The
production equipment can stably produce qualified products
for a period of time.
26. Borrowing costs
Borrowing costs that can be directly attributed to the purchase, construction or production of assets that meet the
capitalization conditions will be capitalized when the asset expenditure has occurred, the borrowing costs have
occurred, and the necessary purchase, construction or production activities to make the assets reach the
predetermined serviceable or saleable state have begun; Capitalization shall stop when the assets that meet the
capitalization conditions purchased, constructed or produced reach the predetermined serviceable state or saleable
state. The remaining borrowing costs are recognized as expenses in the current period.
27. Biological assets
No
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
28. Oil and gas assets
No
29. Intangible assets
(1) Service life and its determination basis, estimation, amortization method or review
procedure
Intangible assets include land use rights, software and patent rights.
Intangible assets are initially measured at cost. Intangible assets with limited service life shall be amortized by
straight-line method in equal installments within their expected service life from the time they are available for use.
Intangible assets with uncertain service life shall not be amortized. The amortization method, service life and estimated
net salvage of various intangible assets are as follows:
Amortization Residual value
Category Service life (year) and determination basis
method rate (%)
Straight-line
Land use right 50(Legal Right to Use) -
method
5 (The useful life is determined by the period of time
Straight-line
Software that is expected to bring economic benefits to the -
method
Company)
15 (The useful life is determined by the period of time
Straight-line
Patent that is expected to bring economic benefits to the -
method
Company)
At the end of the period, the service life and amortization method of intangible assets with limited service life shall
be reviewed and adjusted if necessary.
(2) Collection scope of R&D expenses and related accounting treatment methods
Expenditure in the research stage is included in the current profits and losses when incurred.
Expenditures in the development stage are recognized as intangible assets if they meet the following conditions at
the same time. Expenditures in the development stage that cannot meet the following conditions are included in the
current profits and losses:
(1) It is technically feasible to complete the intangible assets so that they can be used or sold;
(2) Having the intention to complete the intangible assets and use or sell them;
(3) The ways in which intangible assets generate economic benefits, including the ability to prove that the
products produced by using the intangible assets exist in the market or the intangible assets themselves exist in the
market, and the intangible assets will be used internally, which can prove their usefulness;
(4) Having sufficient technical, financial and other resources to support the development of the intangible assets,
and having the ability to use or sell the intangible assets;
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(5) Expenditure attributable to the development stage of the intangible assets can be reliably measured.
If it is impossible to distinguish between research stage expenditure and development stage expenditure, all the
R&D expenditures incurred shall be included in the current profits and losses. The cost of intangible assets formed by
internal development activities only includes the total expenditure from the time when the capitalization conditions are
met to the time when the intangible assets reach the intended use, and the expenditure that has been expensed into
profit and loss before the capitalization conditions are met in the development process will not be adjusted.
The scope of R&D expenditure collection includes wages and welfare expenses of personnel directly engaged in
R&D activities, and materials, fuel, and power costs directly consumed in R&D activities, etc.
30. Long-term assets impairment
On each balance sheet date, the Group checks whether there are signs that long-term equity investment,
investment real estate measured by cost method, fixed assets, construction in progress, right-to-use assets and
intangible assets with definite service life may be impaired. If these assets show signs of impairment, the recoverable
amount is estimated. Intangible assets with uncertain service life and intangible assets that have not yet reached the
serviceable state are tested for impairment every year, regardless of whether with signs of impairment.
Estimating the recoverable amount of an asset is based on a single asset. If it is difficult to estimate the
recoverable amount of a single asset, the recoverable amount of the asset group is determined based on the asset
group to which the asset belongs. The recoverable amount is the higher of the net amount of the fair value of the asset
or asset group minus the disposal expenses or the present value of its expected future cash flow.
If the recoverable amount of an asset is lower than its book value, the asset impairment provision shall be accrued
according to the difference and included in the current profits and losses.
Goodwill shall be tested for impairment at least at the end of each year. When testing the impairment of goodwill,
it shall be conducted in combination with the related asset group or asset group portfolio. That is, from the purchase
date, the book value of goodwill is allocated to the asset group or asset group portfolio that can benefit from the
synergistic effect of business merger in a reasonable way. If the recoverable amount of the asset group or asset group
portfolio containing the allocated goodwill is lower than its book value, the corresponding impairment loss will be
recognized. The amount of impairment loss will firstly deduct the book value of goodwill allocated to the asset group or
asset group portfolio, and then deduct the book value of other assets according to the proportion of the book value of
assets other than goodwill in the asset group or asset group portfolio.
Once the above-mentioned asset impairment losses are recognized, they will not be reversed in future accounting
periods.
31. Long-term deferred expenses
Long-term deferred expenses refer to the expenses that have occurred but should be borne by the current period
and subsequent periods with an amortization period of more than one year. Long-term deferred expenses shall be
amortized evenly by stages during the expected benefit period.
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
32. Contract liabilities
Contractual liabilities refer to the obligation of the Group to transfer goods or services to customers for
consideration received or receivable from customers. Contract assets and liabilities under the same contract are listed
on a net basis.
33. Employee compensation
(1) Accounting treatment methods for short-term compensation
During the accounting period when employees provide services for the Group, the Group recognizes the actual
short-term remuneration as a liability, and records it into the current profits and losses or related asset costs. The
employee welfare expenses incurred by the Group are included in the current profits and losses or related asset costs
according to the actual amount when actually incurred. If employee welfare expenses are non-monetary benefits, they
shall be measured at fair value.
The social insurance premiums such as medical insurance premium, work injury insurance premium and
maternity insurance premium and housing provident fund paid by the Group for employees, as well as the trade union
funds and employee education funds withdrawn by the Group according to regulations, shall be calculated according
to the stipulated accrual basis and accrual ratio during the accounting period when employees provide services for the
Group to determine the employee compensation amount, and recognize the corresponding liabilities, and be included
in the current profits and losses or related asset costs.
(2) Accounting treatment method for post employment benefits
Post-employment benefits are all defined contribution plans.
During the accounting period when employees provide services for the Group, the amount payable calculated
according to the set deposit plan is recognized as a liability, and included in the current profits and losses or related
asset costs.
(3) Accounting treatment method for dismissal benefits
If the Group provides dismissal benefits to employees, the employee compensation liabilities arising from the
dismissal benefits shall be recognized at the earlier of the following two dates, and included in the current profits and
losses: when the Group cannot unilaterally withdraw the dismissal benefits provided by the plan to terminate labor
relations or the proposal to cut back; When the Group recognizes the costs or expenses related to the reorganization
involving the payment of dismissal benefits.
(4) Accounting treatment of other long-term employee benefits
No
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
34. Estimated liabilities
When the obligation related to contingencies such as customer return are the current obligations undertaken by
the Group, and the fulfillment of this obligation is likely to lead to the outflow of economic benefits, and the amount of
this obligation can be measured reliably, it is recognized as estimated liabilities.
On the balance sheet date, considering the risk, uncertainty and time value of money related to contingencies, the
estimated liabilities are measured according to the best estimate of the expenditure required to fulfill the relevant
current obligations. If the time value of money is significant, the best estimate is determined by the discounted amount
of expected future cash outflow.
35. Share-based payment
No
36. Other financial instruments like preferred shares and perpetual bonds
No
37. Revenue
Disclosure of accounting policies adopted for recognition and measurement of revenue by business type
37.1 Accounting policy used for measurement and revenue recognition disclosure according to type of business
The Group has fulfilled its contractual obligation, that is, when the customer obtains the control right of the
relevant goods or services, the income will be recognized according to the transaction price allocated to the
performance obligation. Performance obligation refers to the commitment of the Group to transfer clearly
distinguishable goods or services to customers in the contract.
The Group evaluates the contract on the start date of the contract, identifies the individual performance
obligations contained in the contract, and determines whether each individual performance obligation is performed
within a certain period of time or at a certain point of time. If one of the following conditions is met, it belongs to the
performance obligation within a certain period of time, and the Group recognizes the income within a certain period of
time according to the performance progress: (1) The customer obtains and consumes the economic benefits brought
by the performance of the Group; (2) The customer can control the goods under construction during the performance
of the Group; (3) The goods produced by the Group during the performance of the contract have no alternative use,
and the Group has the right to collect payment for the performance completed to date throughout the contract period.
Otherwise, the Group recognizes revenue at the point in time when the customer obtains control of the related goods
or services.
For goods sold to customers, the Group recognizes income when the control of the goods is transferred, that is,
when the goods are delivered to the designated place of the other party and signed by the other party. The Group
recognizes income in the process of providing property and leasing services.
52
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Transaction price refers to the amount of consideration that the Group expects to be entitled to receive as a result
of the transfer of goods or services to the customer, but does not include payments received on behalf of a third party
and amounts expected to be refunded to the customers by the Group. In determining the transaction price, the Group
takes into account the impact of factors such as variable consideration, significant financing elements in the contract,
non-cash consideration, consideration payable to customers, etc.
If the contract contains two or more performance obligations, the Group will allocate the transaction price to each
individual performance obligation on the contract start date according to the relative proportion of the separate selling
price of the goods or services promised by each individual performance obligation. However, if there is conclusive
evidence that the contract discount or variable consideration is only related to one or more (but not all) performance
obligations in the contract, the Group will allocate the contract discount or variable consideration to one or more
related performance obligations. Separate selling price refers to the price at which the Group sells goods or services to
customers separately. If the separate selling price cannot be directly observed, the Group comprehensively considers
all relevant information that can be reasonably obtained, and estimates the separate selling price by using observable
input values to the maximum extent.
For sales with return clauses, when the customer obtains the control right of the relevant goods, the Group
recognizes the income according to the amount of consideration expected to be charged due to the transfer of goods
to the customer (that is, excluding the amount expected to be refunded due to sales return), and recognizes the
liabilities according to the amount expected to be refunded due to sales return; At the same time, according to the
book value of the expected returned goods at the time of transfer, the balance after deducting the expected cost of
recovering the goods (including the loss of the value of the returned goods) is recognized as an asset, and the net
carry-over cost of the above assets is deducted according to the book value of the transferred goods at the time of
transfer.
For sales with quality assurance clauses, if the quality assurance provides a separate service in addition to
assuring customers that the goods or services sold meet the established standards, the quality assurance constitutes
a single performance obligation. Otherwise, the Group shall handle the quality assurance responsibility in accordance
with the Accounting Standards for Business Enterprises No.13-Contingencies.
According to whether the Group has control over the goods or services before transferring them to customers, the
Group judges whether it is the main responsible person or the agent when engaging in transactions. If the Group can
control the goods or services before transferring them to customers, the Group is the main responsible person, and the
income is recognized according to the total consideration received or receivable; Otherwise, the Group, as an agent,
recognizes income according to the expected amount of commission or handling fee, which is determined according to
the net amount of the total consideration received or receivable after deducting the price payable to other interested
parties.
If the Group receives the payment for the sale of goods or services from customers in advance, it will first
recognize the payment as a liability, and then change it to income when the relevant performance obligations are
fulfilled. When the advance payment of the Group does not need to be returned, and the customer may give up all or
part of its contractual rights, if the Group is expected to be entitled to the amount related to the contractual rights given
up by the customer, the above amount will be recognized as income in proportion according to the mode of the
customer's exercise of contractual rights; Otherwise, the Group will only convert the relevant balance of the above
53
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
liabilities into income when it is extremely unlikely that the customer will demand to perform the remaining performance
obligations.
Different revenue recognition and measurement methods involved in different business models adopted by the same
type of business
No
38. Contract costs
No
39. Government subsidies
Government subsidies refer to the monetary assets and non-monetary assets obtained by the Group from the
government free of charge. Government subsidies are recognized when they can meet the conditions attached to
government subsidies and can be received.
If government subsidies are monetary assets, they shall be measured according to the amount received or
receivable.
39.1 Judgment basis and accounting treatment method of government subsidies related to assets
As long-term assets can be formed in the production line subsidies and equipment subsidies of the Group's
government subsidies, these government subsidies are government subsidies related to assets.
Government subsidies related to assets are recognized as deferred income, and are included in the current profits
and losses in installments according to the straight-line method within the service life of the related assets.
39.2 Judgment basis and accounting treatment method of government subsidies related to income
As the Group's government subsidies, such as industry development support funds, enterprise development
support funds and tax subsidies, cannot form long-term assets, these government subsidies are government subsidies
related to income.
Government subsidies related to income, if used to compensate related costs and losses in future periods, will be
recognized as deferred income, and are included in the current profits and losses during the period when related costs
or expenses are recognized; if used to compensate the related costs and losses that have occurred, will be directly
included in the current profits and losses.
Government subsidies related to the daily activities of the Group are included in other income according to the
nature of economic business. Government subsidies unrelated to the daily activities of the Group are included in non-
operating income.
54
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
When the confirmed government subsidy needs to be returned, if there is a relevant deferred revenue balance,
the relevant deferred income book balance will be offset, and the excess will be included in the current profits and
losses; If there is no relevant deferred income, it will be directly included in the current profits and losses.
40. Deferred tax assets and deferred tax liabilities
Income tax expenses include current income tax and deferred income tax.
40.1 Current income tax
On the balance sheet date, the current income tax liabilities (or assets) formed in the current and previous periods
shall be measured by the expected income tax payable (or refunded) calculated in accordance with the provisions of
the tax law.
40.2 Deferred income tax assets and deferred income tax liabilities
For the difference between the book values of some assets and liabilities and their tax basis, and the temporary
difference between the book values of items that are not recognized as assets and liabilities but can be determined in
tax basis according to the provisions of the tax law and tax basis, the balance sheet liability method is adopted to
recognize deferred income tax assets and deferred income tax liabilities.
In general, all temporary differences are recognized as related deferred income tax. However, for deductible
temporary differences, the Group recognizes related deferred income tax assets to the extent that it is likely to obtain
taxable income to offset the deductible temporary differences. In addition, for the temporary differences related to the
initial recognition of goodwill and the initial recognition of assets or liabilities arising from transactions that are neither
business merger nor affect accounting profits and taxable income (or deductible losses), the relevant deferred income
tax assets or liabilities are not recognized.
For deductible losses and tax deductions that can be carried forward to future years, the corresponding deferred
income tax assets are recognized to the extent that it is likely to obtain future taxable income for deducting deductible
losses and tax deductions.
The Group recognizes deferred income tax liabilities arising from taxable temporary differences related to
investments in subsidiaries, associated enterprises and joint ventures, unless the Group can control the time when the
temporary differences are reversed, and the temporary differences are unlikely to be reversed in the foreseeable future.
For deductible temporary differences related to the investments of subsidiaries, associated enterprises and joint
ventures, the Group recognizes the deferred income tax assets only when the temporary differences are likely to be
reversed in the foreseeable future and the taxable income used to offset the deductible temporary differences is likely
to be obtained in the future.
On the balance sheet date, deferred income tax assets and deferred income tax liabilities shall be measured
according to the applicable tax rate during the expected recovery of related assets or settlement of related liabilities.
Except that the current income tax and deferred income tax related to transactions and events directly included in
other comprehensive income or shareholders' equity are included in other comprehensive income or shareholders'
equity, and the deferred income tax arising from business merger adjusts the book value of goodwill, the remaining
55
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
current income tax and deferred income tax expenses or gains are included in the current profits and losses. On the
balance sheet date, the book value of deferred income tax assets shall be rechecked.
On the balance sheet date, the book value of deferred tax assets shall be reexamined. If it is unlikely to obtain
sufficient taxable income to offset the benefit of the deferred tax assets, the book value of the deferred income tax
assets shall be written down. When it is likely to earn sufficient taxable income, the write-down amount shall be
reversed.
40.3 Offset of income tax
When the Group has the legal right to settle on a net basis and intends to settle on a net basis or acquire assets
and pay off liabilities at the same time, the Group's current income tax assets and current income tax liabilities are
presented on an offset net basis.
When the taxpayer has the legal right to settle the current income tax assets and liabilities on a net basis, and the
deferred income tax assets and liabilities are related to the income tax levied by the same tax collection department on
the same taxpayer or to different taxpayers, but in the future, the taxpayers involved intend to settle the current income
tax assets and liabilities on a net basis, or acquire assets and pay off liabilities at the same time, the Group's deferred
income tax assets and liabilities are presented on an offset net basis.
41. Leasing
(1) Accounting treatment method of leasing as a lessee
Lease refers to a contract in which the lessor transfers the right to use assets to the lessee for consideration
within a certain period of time.
On the commencement date of the contract, the Group evaluates whether the contract is a lease or contains a
lease. Unless the terms and conditions of the contract change, the Group will not re-evaluate whether the contract is a
lease or contains a lease.
41.1 The Group as the lessee
41.1.1 Split of lease
If the contract contains one or more leased and non-leased parts at the same time, the Group will split each
separate leased and non-leased part and allocate the contract consideration according to the relative proportion of the
sum of the separate prices of each leased part and the non-leased part.
41.1.2 Right-to-use assets
Except for short-term leases, the Group recognizes the right-to-use assets on the start date of lease term. The
start date of lease term refers to the start date when the lessor provides the leased assets for the use of the Group.
The right-to-use assets is initially measured according to the cost. The cost includes:
Initial measurement amount of lease liabilities;
56
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
For the lease payment paid on or before the start date of the lease term, if there are lease incentives, deduct the
amount related to the lease incentives enjoyed;
Initial direct expenses incurred by the Group;
The estimated costs incurred by the Group for dismantling and removing the leased assets, restoring the
premises where the leased assets are located or restoring the leased assets to the state agreed in the lease clauses.
The Group refers to the depreciation provisions in Accounting Standards for Business Enterprises No.4-Fixed
Assets, and accrues depreciation for right-to-use assets. If the Group can reasonably determine that it has acquired
the ownership of the leased assets at the expiration of the lease term, the right-to-use assets will be depreciated within
the remaining service life of the leased assets. If it cannot be reasonably determined that the ownership of the leased
assets can be obtained at the expiration of the lease term, depreciation shall be accrued during the lease term or the
remaining service life of the leased assets, whichever is shorter.
According to the Accounting Standards for Business Enterprises No.8-Impairment of Assets, the Group
determines whether the right-to-use assets have been impaired, and carries out accounting treatment for the identified
impairment losses.
41.1.3 Lease liabilities
Except for short-term leases, the Group initially measures the lease liabilities on the start date of lease term
according to the present value of the unpaid lease payment on that date. When calculating the present value of the
lease payment, the Group uses the lease interest rate as the discount rate. When the lease interest rate cannot be
determined, incremental borrowing rate is used as discount rate.
Lease payments refer to payments made by the Group to the lessor related to the right to use the leased asset
during the lease term, including:
Fixed payment amount and substantial fixed payment amount. If there is lease incentive, the relevant amount of
lease incentive shall be deducted;
Variable lease payment amount depending on index or ratio;
The exercise price of the option reasonably determined by the Group to be exercised;
The amount to be paid to terminate the lease when the lease term reflects that the Group will exercise the option;
The amount expected to be paid according to the residual value of the guarantee provided by the Group.
After the start of the lease term, the Group calculates the interest expense of the lease liabilities in each period of
the lease term at a fixed periodic interest rate, and includes it in the current profits and losses or related asset costs.
After the commencement of the lease term, if the following circumstances occur, the Group will re-measure the
lease liabilities and adjust the corresponding right-to-use assets. If the book value of the right-to-use assets has been
57
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
reduced to zero, but the lease liabilities still need to be further reduced, the Group will include the difference in the
current profits and losses:
If the lease term changes or the evaluation result of the purchase option changes, the Group will re-measure the
lease liabilities according to the present value calculated by the changed lease payment amount and the revised
discount rate;
If the estimated payable amount according to the guarantee residual value or the index or proportion used to
determine the lease payment changes, the Group will re-measure the lease liabilities according to the present value
calculated by the changed lease payment amount and the original discount rate.
41.1.4 As the judgment basis and accounting treatment method for the lessee to simplify the treatment of the
short-term lease
For the short-term lease of some factories and some rented warehouses, the Group chooses not to recognize the
right-to-use assets and lease liabilities. Short-term lease refers to the lease that does not exceed 12 months and does
not include the option to purchase on the start date of the lease term. The Group will charge the lease payment for
short-term lease to the current profits and losses or related asset costs in accordance with the straight-line method in
each period of the lease term.
41.1.5 Lease change
If the lease changes and the following conditions are met at the same time, the Group will carry out accounting
treatment on the lease change as a separate lease:
The lease change expands the lease scope by increasing the right to use one or more leased assets;
The increased consideration is equivalent to the individual price of the expanded part of the lease scope adjusted
according to the contract situation.
If a lease modification is not accounted for as a separate lease, at the effective date of the lease modification, the
Group reapportions the consideration of the modified contract, re-determines the lease term and re-measures the
lease liability based on the present value of the modified lease payments and a revised discount rate.
If the lease scope is reduced or the lease term is shortened due to lease change, the Group shall correspondingly
reduce the book value of the right-to-use assets, and include the related gains or losses of partial or full termination of
lease in the current profits and losses. If other lease changes lead to the re-measurement of lease liabilities, the Group
will adjust the book value of the right-to-use assets accordingly.
(2) Accounting treatment method of leasing as a lessor
41.2 The Group as the lessor
41.2.1 Split of lease
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
If the contract contains both leased and non-leased parts, the Group will allocate the contract consideration
according to the provisions of the Accounting Standards for Business Enterprises Revenues on transaction price
allocation, and the basis of allocation is the separate prices of the leased part and the non-leased part.
41.2.2 Classification and accounting treatment for rental housing leases
A lease that essentially transfers almost all the risks and rewards related to the ownership of the leased assets is
a financial lease. Other leases except financing lease are operating leases.
41.2.2.1 The Group as a lessor records the operating lease business
During each period of the lease term, the Group adopts the straight-line method to recognize the lease receipts
from operating lease as rental income. The initial direct expenses incurred by the Group in connection with operating
leases are capitalized when incurred, apportioned on the same basis as rental income recognition during the lease
term, and included in current profits and losses in installments.
The variable lease receipts related to operating leases obtained by the Group, which are not included in the lease
receipts, are included in the current profits and losses when actually incurred.
41.2.3 Lease change
If there is a change in an operating lease, the Group accounts for it as a new lease from the effective date of the
change, and the amount of lease receipts received in advance or receivable relating to the lease prior to the change is
deemed to be the amount received under the new lease.
42. Other significant accounting policies and accounting estimates
The Group had no significant changes in accounting policies during the current year.
43. Changes in significant accounting policies and estimates
(1) Changes in significant accounting policies
□ Applicable√ Not applicable
(2) Changes in significant accounting estimates
□ Applicable√ Not applicable
(3) Adjustment of items related to the financial statements at the beginning of the year when the new
accounting standards are implemented for the first time since 2024
□ Applicable√ Not applicable
44. Others
No
59
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
6. Taxes
1. Main taxes and tax rates
Tax category Tax basis Tax rate
The output tax for domestic sales is
The balance after deducting the
calculated according to 13%, 9%, 6%
deductible input tax from the output
and 5% of the sales amount
VAT tax; The tax calculation method of
calculated according to relevant tax
"exemption, offset and refund" is
regulations, and the tax rebate rate
applied to sales of export products
for export products is 13%
Urban maintenance and construction
Payable turnover tax 7%
tax
Business income tax Payable turnover tax 25%, 20%, 15%, 8.25%
Surcharge for education Payable turnover tax 3%
Local education surcharge Payable turnover tax 2%
Residual value or rental income after
Property tax deducting 30% from the original 1.2%
value of property at one time
Disclosure of information about taxpayers with different enterprise income tax rates
Name of taxpayer Income tax rate
Shenzhen Textile (Holdings) Co., Ltd 25%
Shenzhen Shenfang Real Estate Management Co., Ltd. 25%
Shenzhen Beauty Century Garment Co., Ltd. 20% (Note 1)
Shenzhen Lisi Industrial Co., Ltd. 20% (Note 1)
Shenzhen Shenfang Sungang Real Estate Management
20% (Note 1)
Co., Ltd.
Shenzhen Huaqiang Hotel Co., Ltd 20% (Note 1)
Shengtou (HK) Co., Ltd. 8.25% ( Note 2)
Shenzhen SAPO Photoelectric Co., Ltd. 15% (Note 3)
2. Tax preference
(1) In 2022, SAPO Photoelectric, a subsidiary of the Company, was jointly recognized as a high-tech enterprise by
Shenzhen Science and Technology Innovation Committee, Shenzhen Finance Bureau and Shenzhen Tax Service,
State Taxation Administration, respectively, with a certification period of 3 years, and the certificate numbers of
GR202244204504 respectively. It shall apply the preferential tax policies for high-tech enterprises within three years
after it is recognized as a high-tech enterprise, and pay enterprise income tax at the rate of 15% after being filed by the
competent tax bureau.
(2) The Company's subsidiaries Shenzhen Beauty Century Garment Co., Ltd., Shenzhen Huaqiang Hotel Co., Ltd.,
Shenzhen Lisi Industrial Development Co., Ltd. and Shenzhen Shenfang Sungang Property Management Co., Ltd. are
qualified small and low-profit enterprises, and according to the Announcement of the State Taxation Administration
and the Ministry of Finance on Further Supporting the Preferential Income Tax Policies for Small and Micro
Enterprises and Individual Industrial and Commercial Households (No. 12 of 2023), for small and low-profit enterprises,
the taxable income will be reduced by 20%, and the enterprise income tax policy will be paid at the rate of 20%, which
will continue to be implemented until December 31, 2027.
(3) In accordance with the relevant provisions of the Notice of the State Administration of Taxation of the General
Administration of Customs of Ministry of Finance on Import Tax Policies for Supporting the Development of the New
Display Device Industry (No. 19[2021]Cai Guan Shui), SAPO Photoelectric , a subsidiary of the Company, meets the
60
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
relevant conditions and enjoys the policy of exemption from import duties for related products from January 1, 2021 to
December 31, 2030.
(4) In accordance with the Announcement on the Advanced Manufacturing Enterprise VAT Super-Deduction
Policy (Ministry of Finance and State Taxation Administration Announcement [2023] No. 43), the subsidiary SAPO
Photoelectric meets the relevant conditions and is allowed to deduct an additional 5% of the deductible input VAT from
the payable VAT amount from January 1, 2023, to December 31, 2027.
(5) The Company's subsidiaries Shenzhen Beauty Century Garment Co., Ltd., Shenzhen Huaqiang Hotel Co., Ltd.,
Shenzhen Lisi Industrial Development Co., Ltd. and Shenzhen Shenfang Sungang Property Management Co., Ltd. are
qualified small and low-profit enterprises, and according to the Announcement of the State Taxation Administration
and the Ministry of Finance on Further Supporting the Preferential Income Tax Policies for Small and Micro
Enterprises and Individual Industrial and Commercial Households (No. 12 of 2023), from January 1, 2023, to
December 31, 2027, the resource tax (excluding water resource tax), urban maintenance and construction tax,
property tax, urban land use tax, stamp duty (excluding securities transaction stamp duty), farmland occupation tax,
education surcharge, and local education surcharge for VAT small-scale taxpayers, small and micro-profit enterprises,
and individual industrial and commercial households are halved.
(6) According to the Announcement on Further Supporting Key Groups in Entrepreneurship and Employment
Related Tax Policies of Ministry of Finance, State Taxation Administration, Ministry of Human Resources and Social
Security, and Ministry of Agriculture and Rural Affairs (No. 15 of 2023), the subsidiary SAPO Photoelectric meets the
relevant conditions. From January 1, 2023 to December 31, 2027, enterprises that employ people lifted out of poverty,
as well as those registered with the public employment service agencies of the Ministry of Human Resources and
Social Security for more than six months and holding the Employment and Entrepreneurship Certificate or
Employment Unemployment Registration Certificate (indicating "Enterprise Absorption Tax Policy"), and sign labor
contracts with them for a period of more than one year and legally pay social insurance premiums, will receive a fixed
amount deduction of VAT, urban maintenance and construction tax, education surcharge, local education surcharge,
and corporate income tax benefits based on the actual number of people employed, for up to 3 years from the month
of signing the labor contract and paying social insurance premiums. The fixed amount standard is RMB 6,000 per
person per year.
3. Others
Note 1: See Notes (VI), 2(2) for details.
Note 2: According to the Tax Ordinance of Hong Kong, Hong Kong companies applied the two-tier system of
profits tax , and the first profit of HK$ 2 million will be calculated and paid at 8.25%, and the profits generated
thereafter will be calculated at 16.5%.
Note 3: See Notes (VI), 2(1) for details.
7. Notes to items in the consolidated financial statements
1. Monetary funds
In RMB
Items Ending balance Opening balance
Cash on hand 1,710.83 1,710.40
Cash in bank 224,263,719.56 462,967,619.54
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2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Other monetary funds 1,645,000.00 9,305,118.06
Total 225,910,430.39 472,274,448.00
Including : The total amount of
0.00 0.00
deposit abroad
Other notes
Note 1: Bank deposits include demand deposits and seven-day notice deposit interest totaling RMB 319,864.92.
Note 2: As of June 30, 2024, the Company's other monetary funds include a foreign exchange contract margin of
RMB 1,645,000.00.
2. Trading financial assets
In RMB
Items Ending balance Opening balance
Financial assets measured at fair
value and whose changes are
958,694,300.63 821,946,114.68
included in the current profits and
losses
Including：
Monetary funds, structured deposits,
959,498,109.87 821,946,114.68
and wealth management products
Foreign Exchange Derivative
-803,809.24 0.00
Products
Designated financial assets
measured at fair value with changes
0.00 0.00
recognized in the current period's
profit or loss.
Including：
Total 958,694,300.63 821,946,114.68
Other notes: Foreign exchange derivative products are forward foreign exchange contracts designated as hedging
instruments that do not meet the conditions for the application of hedge accounting methods held by the company at
the end of the reporting period. To cope with the risk of exchange rate fluctuations, the company selectively carries out
foreign exchange derivative transactions for proper foreign exchange risk management; for those foreign exchange
derivative products that do not meet the requirements of hedge accounting standards, the gains or losses arising from
changes in their fair value are directly recognized in the current period's profit or loss.
3. Derivative financial assets
No
4. Notes receivable
(1) Classified presentation of notes receivable
In RMB
Items Ending balance Opening balance
Bank acceptance 36,077,741.23 50,963,943.01
Total 36,077,741.23 50,963,943.01
62
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(2) Disclosure under the methods of provision for bad debts by category
In RMB
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Categor
y Accrual Book Accrual Book
Proporti value Proporti value
Amount Amount proporti Amount Amount proporti
on on
on on
Inclu
ding：
Notes
receiva
ble with
provisio
n for 36,077, 100.00 36,077, 50,963, 100.00 50,963,
0.00 0.00% 0.00 0.00%
bad 741.23 % 741.23 943.01 % 943.01
debts
by
combin
ation
Inclu
ding：
Bank
36,077, 100.00 36,077, 50,963, 100.00 50,963,
accepta 0.00 0.00% 0.00 0.00%
741.23 % 741.23 943.01 % 943.01
nce
36,077, 100.00 36,077, 50,963, 100.00 50,963,
Total 0.00 0.00% 0.00 0.00%
741.23 % 741.23 943.01 % 943.01
If the provision for bad debts of notes receivable is made according to the general expected credit loss model:
□ Applicable√ Not applicable
(3) Status of bad debt provision, recovery, or reversal for the period
Provision for bad debts for the current period: None
Where accounts receivable with significant from provision for bad debts or recovered in the current period
□ Applicable√ Not applicable
(4) Notes receivable pledged by the Company at the end of the period
No
(5) Receivables notes or discounted at period-end not yet due on the Company's balance
sheet date
In RMB
Termination confirmation amount at
Items Unconfirmed amount at period-end
period-end
Bank acceptance 0.00 34,511,748.51
Total 0.00 34,511,748.51
63
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(6) Situation of notes receivable actually written off in the current period
Explanation of notes receivable write-off:
No actual write-off of notes receivable occurred during the Company's reporting period.
5. Accounts receivable
(1) Disclosure by aging
In RMB
Aging Book balance at period end Beginning book balance
Within 1 year (including 1 year) 1,027,346,527.54 848,526,236.04
1-2 years 33,704.93 1,640,043.18
2-3 years 606,936.92 618,907.34
Over 3 years 13,530,118.63 12,911,211.29
3-4 years 618,907.34 0.00
4 to 5 years 454,035.81 454,035.81
Over 5 years 12,457,175.48 12,457,175.48
Total 1,041,517,288.02 863,696,397.85
(2) Disclosure under the methods of provision for bad debts by category
In RMB
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Categor
y Accrual Book Accrual Book
Proporti value Proporti value
Amount Amount proporti Amount Amount proporti
on on
on on
Account
s
receiva
ble with
provisio
53,287, 21,498, 31,789, 71,687, 27,464, 44,223,
n for 5.12% 40.34% 8.30% 38.31%
891.34 029.24 862.10 951.26 002.48 948.78
bad
debts
by
individu
al
Inclu
ding：
Account
s
receiva
988,229 30,350, 957,879 792,008 16,097, 775,910
ble with 94.88% 3.07% 91.70% 2.03%
,396.68 194.52 ,202.16 ,446.59 561.42 ,885.17
provisio
n for
bad
64
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
debts
by
combin
ation
Inclu
ding：
Portfoli 976,596 30,154, 946,442 779,372 15,882, 763,489
93.77% 3.09% 90.24% 2.04%
o1 ,693.97 543.62 ,150.35 ,185.30 600.54 ,584.76
Portfoli 11,632, 195,650 11,437, 12,636, 214,960 12,421,
1.11% 1.68% 1.46% 1.70%
o2 702.71 .90 051.81 261.29 .88 300.41
1,041,5
100.00 51,848, 989,669 863,696 100.00 43,561, 820,134
Total 17,288. 4.98% 5.04%
% 223.76 ,064.26 ,397.85 % 563.90 ,833.95
02
Provision for bad debts by individual item category name: RMB 21,498,029.24
In RMB
Opening balance Ending balance
Name Bad debt Bad debt Accrual Provision
Book balance Book balance
provision provision proportion Reason
Customer A 25,768,718.27 5,153,743.65 19,626,409.15 3,925,281.83 20.00% Total
Customer B 11,106,091.92 2,221,218.38 7,414,294.75 1,482,858.95 20.00% Total
Customer C 11,086,378.19 2,217,275.64 10,114,193.60 2,022,838.72 20.00% Total
Impairment
Customer D 2,797,016.81 2,797,016.81 2,797,016.81 2,797,016.81 100.00%
loss incurred
Impairment
Customer E 1,694,849.81 1,694,849.81 1,694,849.81 1,694,849.81 100.00%
loss incurred
Other 19,234,896.26 13,379,898.19 11,641,127.22 9,575,183.12 82.25% Total
Total 71,687,951.26 27,464,002.48 53,287,891.34 21,498,029.24
Provision for bad debt by combination category name: RMB 30,154,543.62
In RMB
Ending balance
Name
Book balance Bad debt provision Accrual proportion
During the credit period 976,596,693.97 30,154,543.62 3.09%
Total 976,596,693.97 30,154,543.62
Description of the basis for determining the combination:
Based on the industry nature and credit status of customers, different credit risk levels are associated with varying
overdue days, so different credit loss rates are applied to customers with different overdue periods.
Provision for bad debt by combination category name: RMB 195,650.90
In RMB
Ending balance
Name
Book balance Bad debt provision Accrual proportion
Within one year 11,565,452.71 175,475.90 1.52%
2-3 years 67,250.00 20,175.00 30.00%
Total 11,632,702.71 195,650.90
Description of the basis for determining the combination:
65
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
For group customers other than SAPO Photoelectric, primarily leasing customers, credit impairment is provisioned
based on the aging method combination.
If the provision for bad debts of accounts receivable is made according to the general expected credit loss model:
□ Applicable√ Not applicable
(3) Status of bad debt provision, recovery, or reversal for the period
Provision for bad debts in the current period:
In RMB
Amount of change for the period
Opening Ending
Category Recovery or
balance Accrual Write-off Other balance
reversal
Bad debt -
43,561,563.90 38,180,731.92 0.00 0.00 51,848,223.76
provision 29,894,072.06
-
Total 43,561,563.90 38,180,731.92 0.00 0.00 51,848,223.76
29,894,072.06
Where accounts receivable with significant from provision for bad debts or recovered in the current period
No significant recovery or reversal of bad debt provision occurred during the Company's
reporting period.
(4) Situation of accounts receivable actually written off in the current period
Explanation of account receivable write-off:
No actual write-off of account receivable occurred during the Company's reporting
period.
(5) Accounts receivable and contractual assets collected from the debtors which rank the first
five at the end of period
In RMB
Ending balance
Proportion in the of provision for
Ending balance total ending bad debts of
Accounts
Ending balance of accounts balance of accounts
receivable
Name of contractual receivable and accounts receivable and
balance at the
assets contractual receivable and provision for
end of period
assets contractual impairment of
assets contractual
assets
Customer A 237,062,399.19 0.00 237,062,399.19 22.76% 7,325,228.13
Customer B 119,594,837.94 0.00 119,594,837.94 11.48% 3,695,480.49
Customer C 116,851,911.97 0.00 116,851,911.97 11.22% 3,610,724.08
Customer D 93,726,121.24 0.00 93,726,121.24 9.00% 2,896,137.15
Customer E 73,980,827.05 0.00 73,980,827.05 7.10% 2,286,007.56
Total 641,216,097.39 0.00 641,216,097.39 61.56% 19,813,577.41
66
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
6. Contract assets
(1) Contract asset status
No
(2) Significant changes in book value during the reporting period, amounts and reasons
No
(3) Disclosure under the methods of provision for bad debts by category
No
Provision for bad debts made according to the general expected credit loss model
□ Applicable√ Not applicable
(4) Status of bad debt provision, recovery, or reversal for the period
No
(5) Actual write-offs of contract assets for the current period
No
7. Receivables financing
(1) Presentation of financings receivable classifications
In RMB
Items Ending balance Opening balance
Bank acceptance 1,764,753.26 22,839,459.13
Total 1,764,753.26 22,839,459.13
(2) Disclosure under the methods of provision for bad debts by category
In RMB
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Categor
y Accrual Book Accrual Book
Proporti value Proporti value
Amount Amount proporti Amount Amount proporti
on on
on on
Including：
Withdra
wal of
1,764,7 100.00 1,764,7 22,839, 100.00 22,839,
bad 0.00 0.00% 0.00 0.00%
53.26 % 53.26 459.13 % 459.13
debt
provisio
67
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
n by
portfolio
Including：
Bank
1,764,7 100.00 1,764,7 22,839, 100.00 22,839,
accepta 0.00 0.00% 0.00 0.00%
53.26 % 53.26 459.13 % 459.13
nce
1,764,7 100.00 1,764,7 22,839, 100.00 22,839,
Total 0.00 0.00% 0.00 0.00%
53.26 % 53.26 459.13 % 459.13
Provision for bad debts made according to the general expected credit loss model
No
The basis for the division of each stage and the ratio of provisions for bad debts
No
Explanation of significant changes in the book balance of accounts receivable financing subject to loss provision
changes during the current period:
No
(3) Status of bad debt provision, recovery, or reversal for the period
No
Other notes:
The Company considers that the bank acceptance bills held by the Company have a high credit rating and do not
have significant credit risks, thus no provision for bad debts has been made.
(4) The Company's pledged accounts receivable financing at the end of the period
In RMB
Items Amount pledged at the end of the period
Bank acceptance 0.00
(5) Financing of receivables that have been endorsed or discounted by the Company and have
not expired on the balance sheet date
In RMB
Termination confirmation amount at
Items Unconfirmed amount at period-end
period-end
Bank acceptance 78,263,227.37 0.00
Total 78,263,227.37 0.00
(6) Financing of receivables actually written off in the current period
The Company had no actual write-off of receivables financing during the reporting period.
68
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(7) Increase/decrease in the current period and changes in fair value of accounts receivable
financing
No
(8) Other notes
There was no pledged accounts receivable financing during the reporting period.
8. Other receivables
In RMB
Items Ending balance Opening balance
Interest receivable 0.00 0.00
Dividend receivable 0.00 0.00
Other account receivable 2,869,233.51 3,220,285.42
Total 2,869,233.51 3,220,285.42
(1) Interest receivable
1) Classification of interest receivable
No
2) Significant overdue interest
There was no significant overdue interest during the reporting period.
3) Disclosure under the methods of provision for bad debts by category
□ Applicable√ Not applicable
4) Status of bad debt provision, recovery, or reversal for the period
No
5) Situation of interest receivable actually written off in the current period
No
(2) Dividends receivable
1) Classification of dividends receivable
In RMB
Project (or investee) Ending balance Opening balance
69
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Total 0.00 0.00
2) Important dividends receivable with aging over 1 year
No
3) Disclosure under the methods of provision for bad debts by category
□ Applicable√ Not applicable
4) Status of bad debt provision, recovery, or reversal for the period
No
5) Situation of dividends receivable actually written off in the current period
No
(3) Other receivables
1) Classification of other receivables by nature
In RMB
Payment nature Book balance at period end Beginning book balance
Deposit and security deposit 2,079,463.78 2,000,722.80
Transactions with non-related parties 15,787,006.48 15,350,589.97
Export rebate 709,028.48 710,026.13
Reserve funds and employee loans 832,393.94 577,183.94
Other 1,444,853.16 2,576,693.37
Total 20,852,745.84 21,215,216.21
2) Disclosure by aging
In RMB
Aging Book balance at period end Beginning book balance
Within 1 year (including 1 year) 1,810,258.02 1,860,613.92
1-2 years 367,403.83 548,779.55
2-3 years 303,664.18 690,301.34
Over 3 years 18,371,419.81 18,115,521.40
3-4 years 557,920.96 320,903.45
4 to 5 years 19,830.90 234,916.25
Over 5 years 17,793,667.95 17,559,701.70
Total 20,852,745.84 21,215,216.21
3) Disclosure under the methods of provision for bad debts by category
√Applicable □Not applicable
70
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
In RMB
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Categor
y Accrual Book Accrual Book
Proporti value Proporti value
Amount Amount proporti Amount Amount proporti
on on
on on
Including：
Withdra
wal of
bad
20,852, 100.00 17,983, 2,869,2 21,215, 100.00 17,994, 3,220,2
debt 86.24% 84.82%
745.84 % 512.33 33.51 216.21 % 930.79 85.42
provisio
n by
portfolio
Including：
Other
receiva
bles for
which
provisio
n for
credit
losses 20,852, 100.00 17,983, 2,869,2 21,215, 100.00 17,994, 3,220,2
86.24% 84.82%
is made 745.84 % 512.33 33.51 216.21 % 930.79 85.42
based
on the
credit
risk
charact
eristics
portfolio
20,852, 100.00 17,983, 2,869,2 21,215, 100.00 17,994, 3,220,2
Total 86.24% 84.82%
745.84 % 512.33 33.51 216.21 % 930.79 85.42
Provision for doubtful debts by combination category name:
In RMB
Ending balance
Name
Book balance Bad debt provision Accrual proportion
Other receivables for which
provision for credit losses
is made based on the 20,852,745.84 17,983,512.33 86.24%
credit risk characteristics
portfolio
Total 20,852,745.84 17,983,512.33
Description of the basis for determining the combination:
Determined based on aging and customer credit risk.
Provision for bad debts made according to the general expected credit loss model:
In RMB
Phase I Phase II Phase III
Bad debt provision Expected credit Expected credit loss Expected credit loss Total
losses over the next throughout the throughout the
71
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
12 months duration (no credit duration (credit
impairment) impairment has
occurred)
Balance as of Jan. 1,
73,918.97 268,296.26 17,652,715.56 17,994,930.79
2024
Balance on Jan. 1,
2024 in the current
period
- Transfer to phase II -3,805.21 3,805.21 0.00 0.00
- Transfer to phase
0.00 -173,051.14 173,051.14 0.00
III
Provision in the
61,370.85 18,063.49 114,443.70 193,878.04
current period
Reversal in the
-57,344.07 0.00 -147,952.43 -205,296.50
current period
Balance as of June
74,140.54 117,113.82 17,792,257.97 17,983,512.33
30, 2024
The basis for the division of each stage and the ratio of provisions for bad debts
Changes in book balance with significant amount of loss provision in the current period
□ Applicable√ Not applicable
4) Status of bad debt provision, recovery, or reversal for the current period
Provision for bad debts in the current period:
In RMB
Amount of change for the period
Opening Ending
Category Recovery or Write-off or
balance Accrual Other balance
reversal cancellation
Credit
impairment
17,994,930.79 193,878.04 -205,296.50 17,983,512.33
losses during
existence
Total 17,994,930.79 193,878.04 -205,296.50 17,983,512.33
Where the bad debt provision amount recovered or reversed this period is important:
No significant recovery or reversal of bad debt provision during the Company's reporting period.
5) Situation of other accounts receivable actually written off in the current period
No actual write-off of other receivables during the Company's reporting period.
6) Other receivables collected from the debtors which rank the first five at the end of period
In RMB
Proportion in the End-of-period
The nature of the
Name Ending balance Aging total ending balance of
amount
balance of other provision for bad
72
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
receivables debt
The total amount
of other
Account current
receivables with
receivables of 15,896,829.51 Over 3 years 76.23% 15,896,829.51
the top five
external units
balances at the
end of the year
Total 15,896,829.51 76.23% 15,896,829.51
7) Presented in other receivables due to centralized management of funds
In RMB
Other notes:
No presentation in other receivables due to centralized management of funds during the Company's reporting period.
9. Prepayments
(1) Prepayments are presented by aging
In RMB
Ending balance Opening balance
Aging
Amount Proportion Amount Proportion
Within 1 year 16,829,734.85 86.57% 16,927,119.84 86.81%
1-2 years 36,217.55 0.19% 969,677.39 4.97%
2-3 years 971,029.71 4.99% 1,603,089.57 8.22%
Over 3 years 1,603,089.57 8.25% 0.00
Total 19,440,071.68 19,499,886.80
Reasons for not timely settlement of prepayments with aging over 1 year and significant amount:
No prepayments with aging over 1 year and significant amount during the Company's reporting
period.
(2) Top five of advances to suppliers in terms of the ending balance presented by advance
receivers
The total amount of the top five prepayments by payee at the end of the current year is RMB 18,730,187.24,
accounting for 96.35% of the scale of the year-end prepayments balance.
Other notes:
10. Inventories
Whether the Company needs to comply with the disclosure requirements of the real estate industry
No
(1) Classification of inventory
In RMB
73
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Ending balance Opening balance
Provision for Provision for
impairment of impairment of
Items inventory or inventory or
Book balance Book value Book balance Book value
contract contract
performance performance
costs costs
460,776,051.4 438,498,896.4 403,031,948.0 395,525,900.5
Raw materials 22,277,155.00 7,506,047.48
2 2 6 8
Processing 351,314,969.0 316,358,232.5 309,068,674.9 244,458,084.7
34,956,736.49 64,610,590.25
products 3 4 6 1
Merchandise 127,084,217.4 137,596,740.3
35,056,533.93 92,027,683.51 43,501,540.31 94,095,200.06
inventory 4 7
Commissione
96,547.07 59,189.48 37,357.59 2,406,793.65 93,806.73 2,312,986.92
d materials
939,271,784.9 846,922,170.0 852,104,157.0 115,711,984.7 736,392,172.2
Total 92,349,614.90
6 6 4 7 7
(2) Data resources recognized as inventory
No
(3) Provision for impairment of inventory or contract performance costs
In RMB
Increase for the current Decrease amount in the current
Opening period period Ending
Items
balance balance
Accrual Other Write-off Other
Raw materials 7,506,047.48 15,933,192.60 1,162,085.08 22,277,155.00
Processing
64,610,590.25 26,421,240.67 56,075,094.43 34,956,736.49
products
Merchandise
43,501,540.31 47,364,094.61 55,809,100.99 35,056,533.93
inventory
Commissione
93,806.73 0.00 0.00 34,617.25 0.00 59,189.48
d materials
Total 115,711,984.77 89,718,527.88 0.00 113,080,897.75 0.00 92,349,614.90
The reason for the
reversal or resale of the
The specific basis for determining the net
Items provision for inventory
realizable value
price decline in the
current year
The net realizable value is determined by the
estimated selling price of the relevant finished
Raw materials, work-in-progress Get used or sold in the
product, less the estimated costs to be incurred
product, and consignment materials year
at completion, and less the estimated selling
expenses and the relevant taxes
The net realizable value of the inventory is
determined by the estimated selling price minus
Semi-finished Sold in the year
the estimated selling expenses and related
taxes
The provision for inventory depreciation by combination
No
74
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Provision criteria for provision of inventory depreciation reserve by combination
No
(4) Notes to the ending balance of inventories including the capitalization amount of
borrowing costs
As of June 30, 2024, there was no amount in the inventory balance for guarantee and no amount for capitalization of
borrowing costs.
(5) Notes to the amortization amount of contract performance costs in the current period
No
11. Assets held for sale
No
12. Non-current assets due within one year
No
(1) Debt investments due within one year
□ Applicable√ Not applicable
(2) Other debt investments due within one year
□ Applicable√ Not applicable
13. Other current assets
In RMB
Items Ending balance Opening balance
Receivable return cost 21,704,328.56 33,326,525.34
VAT to be deducted and input tax to
26,411,762.08 27,399,897.46
be certified
Advance payment of income tax 47,034.59 47,034.59
Total 48,163,125.23 60,773,457.39
Other notes:
14. Debt investments
(1) Debt investments situation
No
75
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(2) Important debt investments at the end of the period
Significant debt investment
No
(3) Provision for impairment
No
(4) Situation of debt investments actually written off in the current period
No
Debt investment write-off explanation:
Changes in book balance with significant amount of loss provision in the current period
□ Applicable√ Not applicable
15. Other debt investments
(1) Other debt investments situation
No
(2) Other important debt investments at the end of the period
No
(3) Provision for impairment
No
(4) Situation of other debt investments actually written off in the current period
No
Other debt investment write-off explanation:
Changes in book balance with significant amount of loss provision in the current period
□ Applicable√ Not applicable
Other notes:
16. Investment in other equity instruments
In RMB
Gains Losses Cumulativ Cumulativ Dividend Reasons
Opening Ending
Name recognize recognize e gains e losses income for
balance balance
d in other d in other recognize recognize recognize designatin
76
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
comprehe comprehe d in other d in other d in the g at fair
nsive nsive comprehe comprehe period value
income for income for nsive nsive through
the period the period income at income at other
period end period end comprehe
nsive
income
Planned
Union to be held
Developm 110,457,7 107,857,7 208,000.0 110,457,7 by the
ent Co., 00.00 00.00 0 00.00 Group for
Ltd. a long
time.
Planned
Shenzhen to be held
Dailishi 17,741,90 15,182,04 550,000.0 17,741,90 by the
Underwea 0.00 3.74 0 0.00 Group for
r Co., Ltd. a long
time.
Planned
Shenzhen to be held
South 14,803,40 13,303,40 14,803,40 by the
Textile 0.00 0.00 0.00 Group for
Co., Ltd. a long
time.
Planned
Shenzhen to be held
Xinfang 2,985,900. 2,461,900. 200,000.0 2,985,900. by the
Knitting 00 00 0 00 Group for
Co., Ltd. a long
time.
Planned
Jintian to be held
-
Industry by the
0.00 14,831,68 0.00
(Group) Group for
1.50
Co., Ltd. a long
time.
-
145,988,9 138,805,0 958,000.0 145,988,9
Total 14,831,68
00.00 43.74 0 00.00
1.50
De-recognition in the period
No
Segmented disclosure of non-trading equity instrument investments in current period
Other notes:
The Company has no derecognition of investments in other equity instruments
during the reporting period.
17. Long-term receivables
(1) Long-term receivables
No
77
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(2) Disclosure under the methods of provision for bad debts by category
No
(3) Status of bad debt provision, recovery, or reversal for the period
No
(4) Situation of accounts receivable actually written off in the current period
No
18. Long-term equity investments
In RMB
Increase or decrease in the current period
Equity End-
Begin metho Adjust Cash of-
Begin ning d ment divide Withdr Endin
Profits period
ning balan affirm of nds or awal g
and Other balan
Invest balan ce of ative other profits of balan
invest losses equity ce of
ees ce provisi profit compr declar impair Other ce
ment on chang provisi
(book on for and ehens ed to ment (book
invest es on for
value) impair loss ive be provisi value)
ments impair
ment on incom distrib on ment
invest e uted
ments
I. Joint ventures
Shenz
hen
Guan
-
hua 122,3 118,1
4,224,
Printin 70,49 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 45,78 0.00
706.3
g& 4.08 7.78
0
Dyein
g Co.,
Ltd.
-
122,3 118,1
Subtot 4,224,
70,49 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 45,78 0.00
al 706.3
4.08 7.78
0
2. Affiliated company
Shenz
hen
Chan
glianf
a 3,358, - 3,136,
124,4
Printin 117.0 0.00 0.00 0.00 0.00 0.00 346,1 0.00 0.00 399.2 0.00
32.13
g& 9 50.00 2
dyein
g
Comp
any
78
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Hongk
ong
-
Yehui 1,953, - -
1,349, 340,6
Intern 409.5 0.00 0.00 147,4 115,8 0.00 0.00 0.00 0.00 0.00
489.3 35.15
ationa 3 59.95 25.06
7
l Co.,
Ltd.
-
5,311, - - - 3,477,
Subtot 1,349,
526.6 0.00 23,02 115,8 0.00 346,1 0.00 0.00 034.3 0.00
al 489.3
2 7.82 25.06 50.00 7
7
- -
127,6 - - 121,6
1,349, 4,247,
Total 82,02 0.00 115,8 0.00 346,1 0.00 0.00 22,82 0.00
489.3 734.1
0.70 25.06 50.00 2.15
7 2
The recoverable amount is determined by the net amount of the fair value less the disposal expenses
□ Applicable√ Not applicable
The recoverable amount is determined at the present value of the expected future cash flows
□ Applicable√ Not applicable
Reasons for the difference between the aforementioned information and the information used in the impairment test of
previous years or external information
No
Reasons for the difference between the information used in the Company's impairment test in previous years and the
actual situation in the current year
No
Other notes
No
19. Other non-current financial assets
No
20. Investment properties
(1) Investment property measured at cost
√Applicable □Not applicable
In RMB
Construction in
Items Houses, buildings Land use right Total
process
I. Original price
1. Beginning
350,367,442.40 350,367,442.40
balance
2. Increase for 0.00 0.00
79
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
the current period
(1)
0.00 0.00
Outsourcing
(2)
Transfers from
inventories\fixed 0.00 0.00
assets\construction
in progress
(3) Increase
from business 0.00 0.00
combinations
3. Decrease for
0.00 0.00
the current period
(1) Disposal 0.00 0.00
(2) Other
0.00 0.00
transfers out
4. Ending
350,367,442.40 350,367,442.40
balance
II.Accumulated
amortization
1. Beginning
224,764,235.22 224,764,235.22
balance
2. Increase for
4,804,908.55 4,804,908.55
the current period
(1)
Provision or 4,804,908.55 4,804,908.55
amortization
3. Decrease for
0.00 0.00
the current period
(1) Disposal 0.00 0.00
(2) Other
0.00 0.00
transfers out
4. Ending
229,569,143.77 229,569,143.77
balance
III. Impairment
provision
1. Beginning
0.00 0.00
balance
2. Increase for
0.00 0.00
the current period
(1)
0.00 0.00
Provision
3. Decrease for
0.00 0.00
the current period
(1) Disposal 0.00 0.00
80
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(2) Other
0.00 0.00
transfers out
4. Ending
0.00 0.00
balance
IV. Book value
1. Ending book
120,798,298.63 120,798,298.63
value
2. Beginning
125,603,207.18 125,603,207.18
book value
The recoverable amount is determined by the net amount of the fair value less the disposal expenses
□ Applicable√ Not applicable
The recoverable amount is determined at the present value of the expected future cash flows
□ Applicable√ Not applicable
Reasons for the difference between the aforementioned information and the information used in the impairment test of
previous years or external information
No
Reasons for the difference between the information used in the Company's impairment test in previous years and the
actual situation in the current year
Other notes:
(2) Investment property measured at fair value
□ Applicable√ Not applicable
(3) Convert to investment property and measure at fair value
No
(4) Investment property without certificate of title
In RMB
Items Book value Reason
Unable to apply for warrants due to
Houses and Building 12,172,717.76
historical reasons
Other notes
21. Fixed assets
In RMB
Items Ending balance Opening balance
Fixed assets 1,956,105,719.74 2,066,006,237.73
Total 1,956,105,719.74 2,066,006,237.73
81
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(1) Status of fixed assets
In RMB
Electronic
Houses & Machinery Transportation
Items equipment and Total
buildings equipment equipment
Other
I. Original price
1. Beginning 2,711,433,903.9 3,500,744,256.3
727,679,833.94 17,090,895.87 44,539,622.55
balance 8 4
2. Increase
for the current 0.00 3,177,076.51 124,424.77 660,609.47 3,962,110.75
period
(1)
0.00 3,177,076.51 124,424.77 660,609.47 3,962,110.75
Acquisitions
(2)
Transfer from
0.00 0.00 0.00 0.00 0.00
construction in
progress
(3)
Increase from
0.00 0.00 0.00 0.00 0.00
business
combinations
3. Decrease
for the current 0.00 0.00 0.00 564,935.61 564,935.61
period
(1)
Disposal or 0.00 0.00 0.00 564,935.61 564,935.61
scrapping
4. Ending 2,714,610,980.4 3,504,141,431.4
727,679,833.94 17,215,320.64 44,635,296.41
balance 9 8
II. Accumulated
depreciation
1. Beginning 1,179,132,635.6 1,409,515,313.0
189,420,295.28 7,869,614.58 33,092,767.56
balance 3 5
2. Increase
for the current 11,566,705.73 99,124,552.68 1,021,614.91 2,120,640.37 113,833,513.69
period
(1)
11,566,705.73 99,124,552.68 1,021,614.91 2,120,640.37 113,833,513.69
Provision
3. Decrease
for the current 0.00 0.00 0.00 535,820.56 535,820.56
period
(1)
Disposal or 0.00 0.00 0.00 535,820.56 535,820.56
scrapping
4. Ending 1,278,257,188.3 1,522,813,006.1
200,987,001.01 8,891,229.49 34,677,587.37
balance 1 8
82
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
III. Impairment
provision
1. Beginning
9,820,261.26 15,149,037.18 6,126.41 247,280.71 25,222,705.56
balance
2. Increase
for the current 0.00 0.00 0.00 0.00 0.00
period
(1)
0.00 0.00 0.00 0.00 0.00
Provision
3. Decrease
for the current 0.00 0.00 0.00 0.00 0.00
period
(1)
Disposal or 0.00 0.00 0.00 0.00 0.00
scrapping
4. Ending
9,820,261.26 15,149,037.18 6,126.41 247,280.71 25,222,705.56
balance
IV. Book value
1. Ending 1,421,204,755.0 1,956,105,719.7
516,872,571.67 8,317,964.74 9,710,428.33
book value 0 4
2. Beginning 1,517,152,231.1 2,066,006,237.7
528,439,277.40 9,215,154.88 11,199,574.28
book value 7 3
(2) Temporarily idle fixed assets
No
(3) Fixed assets leased out through operating leases
No
(4) Fixed assets without certificates of title
In RMB
Reasons for not completing the
Items Book value
certificate of title
Unable to apply for warrants due to
Houses and Building 11,004,437.57
historical reasons
Other notes
For fixed assets mortgaged for bank loans during the reporting period, refer to notes "31. Assets with restricted
ownership or use rights".
(5) Impairment test of fixed assets
□ Applicable√ Not applicable
83
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(6) Liquidation of fixed assets
No
22. Construction in progress
In RMB
Items Ending balance Opening balance
Construction in process 35,178,323.03 31,307,060.74
Total 35,178,323.03 31,307,060.74
(1) Status of construction in progress
In RMB
Ending balance Opening balance
Closing Closing
Items balance of balance of
Book balance Book value Book balance Book value
impairment impairment
provision provision
Installation of
machinery
35,178,323.03 0.00 35,178,323.03 31,307,060.74 0.00 31,307,060.74
and
equipment
Total 35,178,323.03 0.00 35,178,323.03 31,307,060.74 0.00 31,307,060.74
(2) Changes in important construction in progress in the current period
No
(3) Status of impairment of construction in progress in the current period
No
(4) Status of impairment test of construction in progress
□ Applicable√ Not applicable
(5) Project materials
No
23. Productive biological assets
(1) Productive biological assets measured at cost
□ Applicable√ Not applicable
84
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(2) Impairment test of productive biological assets measured at cost
□ Applicable√ Not applicable
(3) Productive biological assets measured at fair value
□ Applicable√ Not applicable
24. Oil and gas assets
□ Applicable√ Not applicable
25. Right-of-use assets
(1) Right-of-use assets situation
In RMB
Items Houses & buildings Machinery equipment Total
I. Original price
1. Beginning balance 33,450,802.23 33,450,802.23
2. Increase for the
6,422,357.96 2,044,236.48 8,466,594.44
current period
(1) Newly increased 6,422,357.96 2,044,236.48 8,466,594.44
3. Decrease for the
current period
4. Ending balance 39,873,160.19 2,044,236.48 41,917,396.67
II. Accumulated
depreciation
1. Beginning balance 21,451,335.66 0.00 21,451,335.66
2. Increase for the
4,113,325.52 670,825.26 4,784,150.78
current period
(1) Provision 4,113,325.52 670,825.26 4,784,150.78
3. Decrease for the
current period
(1) Disposal
4. Ending balance 25,564,661.18 670,825.26 26,235,486.44
III. Impairment provision
1. Beginning balance
2. Increase for the
current period
(1) Provision
3. Decrease for the
current period
(1) Disposal
85
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
4. Ending balance
IV. Book value
1. Ending book value 14,308,499.01 1,373,411.22 15,681,910.23
2. Beginning book
11,999,466.57 0.00 11,999,466.57
value
(2) Impairment test of right-of-use assets
□ Applicable√ Not applicable
Other notes:
26. Intangible assets
(1) Intangible assets
In RMB
Non-Patent
Items Land use right Patent Software Total
Technology]
I. Original price
1. Beginning
48,258,239.00 11,825,200.00 22,600,069.86 82,683,508.86
balance
2. Increase
for the current 0.00 0.00 117,623.76 117,623.76
period
(1)
0.00 0.00 117,623.76 117,623.76
Acquisitions
(2)
Internal research 0.00 0.00 0.00 0.00
and development
(3)
Increase from
0.00 0.00 0.00 0.00
business
combinations
3. Decrease
for the current 0.00 0.00 0.00 0.00
period
(1)
0.00 0.00 0.00 0.00
Disposal
4. Ending
48,258,239.00 11,825,200.00 22,717,693.62 82,801,132.62
balance
II.Accumulated
amortization
1. Beginning
16,165,713.67 11,825,200.00 15,128,172.39 43,119,086.06
balance
2. Increase
445,782.66 0.00 1,873,047.75 2,318,830.41
for the current
86
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
period
(1)
445,782.66 0.00 1,873,047.75 2,318,830.41
Provision
3. Decrease
for the current 0.00 0.00 0.00 0.00
period
(1)
0.00 0.00 0.00 0.00
Disposal
4. Ending
16,611,496.33 11,825,200.00 17,001,220.14 45,437,916.47
balance
III. Impairment
provision
1. Beginning
0.00 0.00 0.00 0.00
balance
2. Increase
for the current 0.00 0.00 0.00 0.00
period
(1)
0.00 0.00 0.00 0.00
Provision
3. Decrease
for the current 0.00 0.00 0.00 0.00
period
(1)
0.00 0.00 0.00 0.00
Disposal
4. Ending
0.00 0.00 0.00 0.00
balance
IV. Book value
1. Ending
31,646,742.67 0.00 5,716,473.48 37,363,216.15
book value
2. Beginning
32,092,525.33 0.00 7,471,897.47 39,564,422.80
book value
The proportion of intangible assets formed by the Company's internal research and development at the end of the
current period to the balance of intangible assets is 0.00%
(2) Data resources recognized as intangible assets
No
(3) Land use right without certificate of title
No
Other notes
87
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
For intangible assets pledged due to bank loans during the reporting period, refer to notes '31. Assets with restricted
ownership or use rights'.
(4) Impairment test of intangible assets
□ Applicable√ Not applicable
27. Goodwill
(1) Original book value of goodwill
In RMB
Increase in the current period Decrease in the current period
Name of the
investee or Opening Formed Ending
matters that balance through balance
Disposal
form goodwill business
combination
Shenzhen
SOPO
9,614,758.55 9,614,758.55
Photoelectric
Co., Ltd.
Shenzhen
Beauty
Century 2,167,341.21 2,167,341.21
Garment Co.,
Ltd.
Total 11,782,099.76 11,782,099.76
(2) Provision for impairment of goodwill
In RMB
Name of the Increase in the current period Decrease in the current period
investee or Opening Ending
matters that balance Accrual Disposal balance
form goodwill
Shenzhen
SOPO
9,614,758.55 9,614,758.55
Photoelectric
Co., Ltd.
Shenzhen
Beauty
Century 2,167,341.21 2,167,341.21
Garment Co.,
Ltd.
Total 11,782,099.76 11,782,099.76
(3) Information on the asset group or combination of asset groups where the goodwill is
located
Composition and basis of Operating segments and Consistency with previous
Name
the asset group or portfolio their basis years
88
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Changes in asset group or asset portfolio
Composition before Objective facts and basis
Name Composition after change
change for changes
Other notes
(4) Specific determination method of recoverable amount
The recoverable amount is determined by the net amount of the fair value less the disposal expenses
□ Applicable√ Not applicable
The recoverable amount is determined at the present value of the expected future cash flows
□ Applicable√ Not applicable
Reasons for the difference between the aforementioned information and the information used in the impairment test of
previous years or external information
Reasons for the difference between the information used in the Company's impairment test in previous years and the
actual situation in the current year
(5) Completion of performance commitments and corresponding impairment of goodwill
Goodwill formed with performance commitments during the reporting period or the previous period within the
performance commitment period
□ Applicable√ Not applicable
Other notes
28. Long-term deferred expenses
In RMB
Amortization
Increase for the Other reduction
Items Opening balance amount for the Ending balance
current period amount
current period
Decoration and
facilities 3,503,660.94 2,347,034.33 1,279,415.92 4,571,279.35
renovation fee
Total 3,503,660.94 2,347,034.33 1,279,415.92 4,571,279.35
Other notes
29. Deferred tax assets/deferred tax liabilities
(1) Deferred income tax assets without offset
In RMB
Ending balance Opening balance
Items Deductible temporary Deferred income tax Deductible temporary Deferred income tax
difference asset difference asset
Asset impairment
178,026,209.35 28,243,972.64 192,506,873.67 30,414,966.51
provision
Unrealized profit
from internal 2,101,406.20 315,210.93 2,145,963.47 321,894.52
transactions
89
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Deductible loss 101,414,354.40 15,212,153.16 127,769,387.40 19,165,408.11
Deferred income 92,101,907.70 13,815,286.16 96,647,256.82 14,497,088.52
Changes in fair value
of investment in
14,831,681.50 3,707,920.38 14,831,681.50 3,707,920.38
other equity
instruments
Employees’ wage
4,173,800.00 1,043,450.00 4,173,800.00 1,043,450.00
payable
Lease liabilities 17,302,726.46 2,595,408.97 12,177,572.68 1,826,635.90
Total 409,952,085.61 64,933,402.24 450,252,535.54 70,977,363.94
(2) Deferred income tax liabilities without offset
In RMB
Ending balance Opening balance
Items Deductible temporary Deferred income tax Deductible temporary Deferred income tax
difference liability difference liability
Asset appraisal
appreciation from
business
62,083,693.36 15,520,923.34 62,083,693.36 15,520,923.34
combination not
under common
control
Changes in fair value
of investment in
138,805,043.74 34,701,260.94 138,805,043.74 34,701,260.94
other equity
instruments
Rent receivable 9,212,846.48 2,303,211.62 10,108,726.81 2,527,181.70
Use right assets 15,681,910.23 2,352,286.53 11,999,466.57 1,799,919.99
Total 225,783,493.81 54,877,682.43 222,996,930.48 54,549,285.97
(3) Deferred tax assets or liabilities presented by net amount after offset
In RMB
Amount of deferred Balance of deferred
Amount of deferred Ending balance of
tax assets and tax assets or
tax assets and deferred tax assets
Items liabilities offset at the liabilities after offset
liabilities offset at the or liabilities after
beginning of the at the beginning of
end of the period offset
period the period
Deferred income tax
-10,926,679.50 54,006,722.74 -10,371,998.52 60,605,365.42
asset
Deferred income tax
-10,926,679.50 43,951,002.93 -10,371,998.52 44,177,287.45
liability
(4) Details of unrecognized deferred tax assets
In RMB
Items Ending balance Opening balance
Deductible temporary difference 3,086,695.01 14,740,965.97
Deductible loss 427,899,981.65 442,263,671.30
90
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Total 430,986,676.66 457,004,637.27
(5) The deductible losses of the unrecognized deferred tax assets will become due in the
following years:
In RMB
Year Ending amount Beginning amount Remarks
2024 67,804,103.36 69,053,143.67
2025
2026 53,989,578.07 53,989,578.07
2027 10,067,397.50 10,067,397.50
2028 39,988,583.76 39,988,583.76
2029 129,732,249.98 129,732,249.98
2030 75,352,814.24 75,352,814.24
2031
2032
2033 50,965,254.74 64,079,904.08
Total 427,899,981.65 442,263,671.30
Other notes
30. Other non-current assets
In RMB
Ending balance Opening balance
Closing Closing
Items balance of balance of
Book balance Book value Book balance Book value
impairment impairment
provision provision
Prepayment
for
engineering 1,961,569.88 0.00 1,961,569.88 3,757,334.44 0.00 3,757,334.44
and
equipment
Investment
funds to be 25,760,086.27 0.00 25,760,086.27 25,760,086.27 0.00 25,760,086.27
liquidated
Total 27,721,656.15 0.00 27,721,656.15 29,517,420.71 0.00 29,517,420.71
Other notes:
31. Assets with restricted ownership or usage rights
In RMB
End of period Beginning of period
Items Restricted Restricted
Book Book Restricted Book Book Restricted
circumsta circumsta
balance value type balance value type
nces nces
Account
Restricted Restricted
Monetary 1,645,000. 1,645,000. 9,305,118. 9,305,118. Freezing
right of Deposit right of
fund 00 00 06 06 and
use use
Margin
Note 34,511,74 34,511,74 Restricted The 42,665,95 42,665,95 Restricted The
91
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
receivable 8.51 8.51 right of endorsem 4.11 4.11 right of endorsem
use ent of the use ent of the
note is not note is not
terminated terminated
Restricted Restricted
Fixed 572,261,2 446,366,1 572,261,2 454,185,8
right of Mortgage right of Mortgage
assets 61.14 05.88 61.14 81.22
use use
Restricted Restricted
Intangible 44,770,08 31,650,56 44,770,08 32,092,52
right of Mortgage right of Mortgage
assets 3.00 9.11 3.00 5.33
use use
653,188,0 514,173,4 669,002,4 538,249,4
Total
92.65 23.50 16.31 78.72
Other notes:
32. Short-term loans
(1) Classification of short-term debts
In RMB
Items Ending balance Opening balance
Credit loans 0.00 8,000,000.00
Total 0.00 8,000,000.00
Explanation of short-term borrowing classification:
(2) Overdue and outstanding short-term debts
The total amount of overdue outstanding short-term borrowings at the end of the current period is RMB 0.00, among
which the significant overdue outstanding short-term borrowings are as follows:
No
33. Trading financial liabilities
No
34. Derivative financial liabilities
No
35. Notes payable
In RMB
Items Ending balance Opening balance
Bank acceptance 10,743,421.84 31,049,291.49
Total 10,743,421.84 31,049,291.49
The total amount of notes payable due but not paid at the end of the current period is RMB 0.00, with the reason for
non-payment being
92
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
36. Accounts payable
(1) Presentation of accounts payable
In RMB
Items Ending balance Opening balance
Payment for goods 435,971,009.55 386,767,637.00
Service charge 35,459,137.27 13,817,610.72
Loyalities 3,132,927.00 2,207,166.50
Subcontracting payment 0.00 4,584,423.60
Other 0.00 1,171,298.42
Total 474,563,073.82 408,548,136.24
(2) Significant payable aging over 1 year or overdue
The Company had no significant accounts payable aging over 1 year or overdue during the reporting period.
37. Other payables
In RMB
Items Ending balance Opening balance
Interest payable 0.00 0.00
Dividend payable 0.00 0.00
Other payable 180,013,733.22 184,528,344.55
Total 180,013,733.22 184,528,344.55
(1) Interest payable
No
(2) Dividends payable
No
(3) Other payables
1) Other payable listed by nature
In RMB
Items Ending balance Opening balance
Engineering equipment payment 70,135,840.91 67,176,881.34
Current payment 55,704,466.53 56,444,481.12
Deposit and security deposit 40,023,495.26 48,208,919.61
Other 14,149,930.52 12,698,062.48
Total 180,013,733.22 184,528,344.55
93
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
2) Other significant payable with aging over 1 year or overdue
The Company had no other significant payables aging over 1 year or overdue during the reporting period.
38. Advance receipts
(1) Presentation of advances received
In RMB
Items Ending balance Opening balance
Rent and other 1,384,783.04 1,450,096.30
Total 1,384,783.04 1,450,096.30
(2) Significant advance receivable with aging over 1 year or overdue
The Company had no significant advance receivable aging over 1 year during the reporting period.
39. Contract liabilities
In RMB
Items Ending balance Opening balance
Amount for the disposal of waste
10,594,097.31 0.00
iodine solution
Payment for goods 421,656.19 1,436,943.34
Total 421,656.19 1,436,943.34
Significant contractual liabilities with aging over 1 year
No
Significant changes in book value during the reporting period, amounts and reasons
No
40. Employee compensation
(1) Employee compensation breakdown
In RMB
Increase in the Decrease in the
Items Opening balance Ending balance
current period current period
I. Short-term
53,853,081.65 105,149,865.39 111,000,206.40 48,002,740.64
compensations
II. Post-employment
benefits - defined 0.00 8,555,861.68 8,555,861.68 0.00
contribution plans
III. Termination
2,584,080.44 2,533,171.54 4,674,926.18 442,325.80
benefits
Total 56,437,162.09 116,238,898.61 124,230,994.26 48,445,066.44
94
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(2) Short-term compensation breakdown
In RMB
Increase in the Decrease in the
Items Opening balance Ending balance
current period current period
1. Wages, bonus,
allowance and 50,484,811.72 92,196,498.99 98,327,820.07 44,353,490.64
subsidy
2. Staff welfare 0.00 4,379,478.21 4,379,478.21 0.00
3. Social insurance
0.00 2,266,661.37 2,266,661.37 0.00
premium
Including：
0.00 1,747,840.68 1,747,840.68 0.00
Medical insurance
Work
0.00 196,782.08 196,782.08 0.00
injury insurance
Maternity
0.00 322,038.61 322,038.61 0.00
insurance
4. Housing provident
0.00 3,897,839.72 3,897,839.72 0.00
funds
5. Labor Union fee
and staff education 3,368,269.93 2,409,387.10 2,128,407.03 3,649,250.00
expenses
Total 53,853,081.65 105,149,865.39 111,000,206.40 48,002,740.64
(3) Defined contribution plan breakdown
In RMB
Increase in the Decrease in the
Items Opening balance Ending balance
current period current period
1. Basic endowment
0.00 7,060,060.83 7,060,060.83 0.00
insurance
2. Unemployment
0.00 330,717.73 330,717.73 0.00
insurance premium
3. Enterprise annuity
0.00 1,165,083.12 1,165,083.12 0.00
payment
Total 0.00 8,555,861.68 8,555,861.68 0.00
Other notes
The Company participates in pension insurance and unemployment insurance plans established by government
agencies according to regulations, and according to the plans, the Company pays fees to these plans according to the
prescribed standards. In addition to the above-mentioned monthly deposit fees, the Company will no longer assume
further payment obligations. The corresponding expenses are included in the current profits and losses or the related
asset costs when incurred.
During the reporting period, the Company contributed RMB 7,060,060.83 and RMB 330,717.73 to the pension and
unemployment insurance plans, respectively (for the first half of 2023: RMB 5,633,933.03 and RMB 140,977.99).
During the reporting period, the Company fully paid the amounts due for the pension and unemployment insurance
plans.
95
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
41. Taxes payable
In RMB
Items Ending balance Opening balance
VAT 595,374.83 582,961.29
Business income tax 1,821,926.28 2,080,849.81
Individual Income tax 378,799.93 1,080,628.82
Other 3,979,586.13 596,455.22
Total 6,775,687.17 4,340,895.14
Other notes
42. Liabilities held for sale
No
43. Non-current liabilities due within one year
In RMB
Items Ending balance Opening balance
Long-term loans maturing within one
102,417,872.13 102,612,497.53
year
Lease liabilities due within one year 7,123,249.76 5,490,255.46
Total 109,541,121.89 108,102,752.99
Other notes:
44. Other current liabilities
In RMB
Items Ending balance Opening balance
Return payable 24,329,008.76 37,244,449.90
Endorsed and unexpired acceptance
34,511,748.51 42,665,954.11
bill
To be rescheduled 40,714.89 172,073.21
Total 58,881,472.16 80,082,477.22
Changes in short-term bonds payable:
No
45. Long-term loans
(1) Classification of long-term loans
In RMB
Items Ending balance Opening balance
Secured loans 557,074,516.69 608,190,812.09
Less: Long-term loans due within one
-102,417,872.13 -102,612,497.53
year
96
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Total 454,656,644.56 505,578,314.56
Description of long-term loans classification:
Additional information, including interest rate range:
Note: SAPO Photoelectric, a subsidiary of the Company, mortgaged its real estate rights such as the factory
building, and the Company and HMEV provided 60% and 40% joint guarantee for the loan respectively.
46. Bonds payable
(1) Bonds payable
No
(2) Increase/decrease in bonds payable (excluding preferred stock, perpetual bonds and other
financial instruments divided into financial liabilities)
No
(3) Notes to convertible corporate bonds
No
(4) Description of other financial instruments divided into financial liabilities
No
47. Lease liabilities
In RMB
Items Ending balance Opening balance
Lease liabilities 17,302,726.46 12,177,572.68
Less: Lease liabilities due within one
-7,123,249.76 -5,490,255.46
year
Total 10,179,476.70 6,687,317.22
Other notes:
48. Long-term payable
No
(1) Long-term payable listed by nature
No
(2) Special payable
No
97
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
49. Long-term employee compensation payable
(1) Table of long-term employee compensation payable
No
(2) Changes in defined benefit plans
No
50. Estimated liabilities
No
51. Deferred income
In RMB
Increase in the Decrease in the
Items Opening balance Ending balance Reason
current period current period
Received the
29. Government
97,485,986.89 6,603,095.11 11,371,158.76 92,717,923.24 government
subsidies
subsidies
Total 97,485,986.89 6,603,095.11 11,371,158.76 92,717,923.24
Other notes:
52. Other non-current liabilities
No
53. Capital stock
In RMB
Increase/decrease in this change (+, -)
Capitalizatio
Opening n of Ending
balance Share Bonus balance
common Other Subtotal
allotment shares
reserve
fund
Total of
506,521,84 506,521,84
capital 0.00 0.00 0.00 0.00 0.00
9.00 9.00
shares
Other notes:
98
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
54. Other equity instruments
(1) Basic information of preferred stock, perpetual bonds and other financial instruments issued at the end of
the period
(2) Table of changes in preferred stock, perpetual bonds and other financial instruments issued at the end of
the period
No
55. Capital reserve
In RMB
Increase in the Decrease in the
Items Opening balance Ending balance
current period current period
Capital premium
1,826,482,608.54 0.00 0.00 1,826,482,608.54
(equity premium)
Other capital
135,117,216.09 0.00 0.00 135,117,216.09
reserves
Total 1,961,599,824.63 0.00 0.00 1,961,599,824.63
Other notes, including the changes in the current period and the reasons for the changes:
56. Treasury stock
No
57. Other comprehensive income
In RMB
Amount for the current period
Less：
Amount
Less：
transferre
Prior
d into
period
profit and
included
Amount loss in the
in other After-tax
Opening before current Less： After-tax Ending
Items composite attribute to
balance income period that Income attribute to balance
income minority
tax for the recognize tax the parent
transfer to sharehold
current d into expenses company
retained er
period other
income in
comprehe
the
nsive
current
income in
period
prior
period
I. Other
comprehe 92,317,30 92,317,30
0.00 0.00 0.00 0.00 0.00 0.00
nsive 7.32 7.32
income
99
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
can’t be
reclassifie
d into
profit or
loss
Chan
ges in fair
value of 92,317,30 92,317,30
0.00 0.00 0.00 0.00 0.00 0.00
other debt 7.32 7.32
investmen
ts
II.
Reclassify
other
comprehe
nsive - -
1,290,073. 1,174,248.
income 115,825.0 0.00 0.00 0.00 115,825.0 0.00
49 43
that is to 6 6
be
included
in profit or
loss.
Trans
lation
difference
- -
of foreign 1,290,073. 1,174,248.
115,825.0 0.00 0.00 0.00 115,825.0 0.00
currency 49 43
6 6
financial
statement
s
Total of
other - -
93,607,38 93,491,55
comprehe 115,825.0 0.00 0.00 0.00 115,825.0 0.00
0.81 5.75
nsive 6 6
income
Additional information, including adjustments to the initial recognition amount of the hedged item for the effective
portion of cash flow hedge gains and losses:
58. Special reserves
No
59. Surplus reserve
In RMB
Increase in the Decrease in the
Items Opening balance Ending balance
current period current period
Statutory surplus
104,262,315.64 104,262,315.64
reserve
Total 104,262,315.64 104,262,315.64
Description of surplus reserves, including the changes in the current period and the reasons for the changes:
100
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
60. Undistributed profits
In RMB
Items Increase for the current Previous period
Undistributed profit at the end of the
216,160,896.14 170,636,610.95
previous period before adjustment
Total adjusted undistributed profit at
the beginning of the period (increase 0.00 0.00
+, decrease -)
Undistributed profit at the beginning
216,160,896.14 170,636,610.95
of the period after adjustment
Add: Net profit attributable to owners
of the parent company for the current 43,894,075.23 79,268,250.45
period
Less: Withdrawal of statutory surplus
0.00 3,352,654.32
reserve
Common stock dividends
32,923,916.72 30,391,310.94
payable
Undistributed profit at the end of the
227,131,054.65 216,160,896.14
period
Details of undistributed profit at the beginning of the period after adjustment
1) Due to the retrospective adjustment of the Accounting Standards for Business Enterprises and its relevant new
provisions, the retained profit at the beginning of the period was affected by RMB0.00.
2) Due to the change in accounting policies, the retained profit at the beginning of the period was affected by RMB0.00.
3) Due to the correction of major accounting errors, the retained profit at the beginning of the period was affected by
RMB0.00.
4) Due to the change in the scope of consolidation caused by the same control, the retained profit at the beginning of
the period was affected by RMB0.00.
5) The total impact of other adjustments on the retained profit at the beginning of the period was RMB0.00.
61. Operating income and operating costs
In RMB
Amount for the current period Amount for the previous period
Items
Income Cost Income Cost
Main business 1,597,753,543.24 1,389,109,924.42 1,470,203,939.11 1,286,170,472.71
Other business 25,630,608.66 496,128.64 19,891,730.44 0.00
Total 1,623,384,151.90 1,389,606,053.06 1,490,095,669.55 1,286,170,472.71
Breakdown of operating income and operating cost:
In RMB
Total
Classification of contracts
Operating income Operation cost
Business type
Including：
Polarizer sales 1,540,330,898.01 1,374,275,754.64
Lease of Property and others 83,053,253.89 15,330,298.42
Classified by business area
101
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Including：
Domestic 1,550,122,549.78 1,331,504,165.72
Overseas 73,261,602.12 58,101,887.34
Total 1,623,384,151.90 1,389,606,053.06
Information related to performance obligations:
No
Other notes
The Company's goods sales are mainly the production and sales of polarizer and textile-related goods. For goods
sold to customers, the Group recognizes income when the control of the goods is transferred, that is, when the goods
are delivered to the designated place of the other party and signed by the other party. Since the delivery of goods to
customers represents the right to unconditionally receive the contract consideration, the maturity of the money only
depends on the passage of time, so the Group recognizes a receivable when the goods are delivered to professional
customers. When the customer prepays the payment, the Group recognizes the transaction amount received as a
contractual liability until the goods are delivered to the customer.
The Company provides property and leasing services to customers, which is a performance obligation to be
fulfilled within a certain period of time. The Company recognizes income in the process of providing property and
leasing services.
Information related to the transaction price allocated to the remaining performance obligations:
At the end of the reporting period, the revenue amount corresponding to performance obligations that have been
contracted but not yet fulfilled or not yet fully fulfilled is RMB 11,015,753.50, of which RMB 11,015,753.50 is expected
to be recognized as revenue in the fiscal year 2024.
Information about variable consideration in the contract:
Changes in major contracts or adjustments to major transaction prices
No
62. Taxes and surcharges
In RMB
Items Amount for the current period Amount for the previous period
Urban maintenance and construction
202,090.93 280,887.35
tax
Surcharge for education 147,375.53 204,444.12
Property tax 3,166,336.07 2,918,264.56
Land use tax 185,756.26 188,021.08
Vehicle and vessel usage tax 1,980.00 4,200.00
Stamp duty 897,237.63 794,946.41
Other 13,706.37 6,566.26
Total 4,614,482.79 4,397,329.78
Other notes:
102
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
63. Administrative expenses
In RMB
Items Amount for the current period Amount for the previous period
26. Employee Remuneration 41,752,060.58 44,414,164.48
Depreciation and amortization costs 8,054,404.08 8,025,284.78
Lease and utilities expenses 1,216,751.91 2,328,829.65
Intermediary agency fees 2,441,780.86 4,330,104.04
Travel expense 236,009.25 224,064.04
Office allowance 363,280.79 449,240.06
Business entertainment 603,802.23 746,448.25
Other 5,311,021.45 4,781,274.52
Total 59,979,111.15 65,299,409.82
Other notes
64. Selling expenses
In RMB
Items Amount for the current period Amount for the previous period
26. Employee Remuneration 7,946,065.86 10,230,501.01
Sales service charge 7,435,247.07 3,893,275.02
Other 1,991,994.74 1,443,073.92
Business entertainment 403,569.45 481,984.21
Travel expense 482,153.08 390,639.14
Total 18,259,030.20 16,439,473.30
Other notes:
65. Research and development expenses
In RMB
Items Amount for the current period Amount for the previous period
26. Employee Remuneration 7,295,182.68 8,292,440.77
Material consumption 38,356,905.93 25,540,854.61
Depreciation cost 1,667,334.64 1,686,985.39
Other 551,440.21 483,907.85
Total 47,870,863.46 36,004,188.62
Other notes
66. Financial expenses
In RMB
Items Amount for the current period Amount for the previous period
Interest expense (note) 11,411,878.99 13,965,081.41
Less: capitalized interest expense 0.00 0.00
Less: interest income -4,864,600.64 -5,318,571.16
Exchange difference -20,379,528.28 -7,582,000.80
Handling fees and others 3,025,777.53 3,114,986.18
Total -10,806,472.40 4,179,495.63
Other notes
103
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Note: The interest expense on lease liabilities during the reporting period is RMB
351,557.2.
67. Other income
In RMB
Sources of other income Amount for the current period Amount for the previous period
29. Government subsidies 11,371,158.76 19,190,714.87
2. Tax preference 7,355,228.89 30,941.62
Other 164,694.72 147,651.06
Total 18,891,082.37 19,369,307.55
68. Net exposure hedging income
No
69. Gains from changes in fair value
In RMB
Sources of income from changes in
Amount for the current period Amount for the previous period
fair value
Transaction financial assets 1,283,637.11 0.00
Including: Gains from fair value
changes of derivative financial -803,809.24 0.00
instruments
Transaction financial liabilities 0.00 0.00
Investment real estate measured at
0.00 0.00
fair value
Total 1,283,637.11 0.00
Other notes:
70. Investment income
In RMB
Items Amount for the current period Amount for the previous period
Long-term equity investment income
-4,247,734.12 -2,111,260.03
calculated by equity method
Investment income of transactional
financial assets during the holding 6,496,490.74 8,948,614.72
period
Dividend income from other equity
instrument investments during the 958,000.00 906,000.00
holding period
Total 3,206,756.62 7,743,354.69
Other notes
104
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
71. Credit impairment losses
In RMB
Items Amount for the current period Amount for the previous period
Losses from bad debt in accounts
-8,286,659.86 -9,052,893.75
receivable
Losses from bad debt in accounts
11,418.46 383,523.90
receivable
Total -8,275,241.40 -8,669,369.85
Other notes
72. Asset impairment losses
In RMB
Items Amount for the current period Amount for the previous period
1. Inventory depreciation loss and
contract performance cost -48,933,632.55 -35,512,897.29
impairment loss
Total -48,933,632.55 -35,512,897.29
Other notes:
73. Income from asset disposals
In RMB
Source of income from assets
Amount for the current period Amount for the previous period
disposal
Gain or loss on disposal of fixed
0.00 321.08
assets
74. Non-operating income
In RMB
Recorded in the amount of
Amount for the current Amount for the previous
Items the non-recurring gains
period period
and losses
Compensation expenses 87,183.29 71,816.74 87,183.29
Non-current asset
62,242.48 0.00 62,242.48
retirement gains
Other 13,510.02 329,571.05 13,510.02
Total 162,935.79 401,387.79 162,935.79
Other notes:
75. Non-operating expenditure
In RMB
Recorded in the amount of
Amount for the current Amount for the previous
Items the non-recurring gains
period period
and losses
105
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Compensation expenses 2,279,213.52 3,009,886.86 2,279,213.52
Non-current asset
31,924.07 8,807.87 31,924.07
Disposition loss
Other 331.92 18,886.32 331.92
Total 2,311,469.51 3,037,581.05 2,311,469.51
Other notes:
76. Income tax expense
(1) Table of income tax expense
In RMB
Items Amount for the current period Amount for the previous period
Current income tax expense 4,709,832.18 4,063,609.65
Deferred income tax expense 6,372,358.16 1,649,407.73
Total 11,082,190.34 5,713,017.38
(2) Accounting profit and income tax expense adjustment process
In RMB
Items Amount for the current period
Total profits 77,885,152.07
Current income tax expense accounted by tax and relevant 19,471,288.02
Influence of different tax rates applied by some subsidiaries -5,868,605.84
The impact of non-taxable income -216,629.25
Non-deductible costs, expenses and losses 530.10
Impact of unrecognized deferred tax assets due to deductible
4,158,173.88
temporary differences or losses in the current period
ax impact of research and development fee plus deduction -6,462,566.57
Income tax expenses 11,082,190.34
Other notes
77. Other comprehensive income
Refer to notes 57
78. Cash flow statement items
(1) Cash related to operating activities
Cash received from other operating activities
In RMB
Items Amount for the current period Amount for the previous period
Letter of Credit Deposit 23,834,297.67 8,087,465.25
Current account 22,024,376.05 59,933,695.82
Government subsidies 6,113,796.59 8,752,204.09
Interest income (excluding financial 5,010,933.94 1,221,464.54
106
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
products)
Total 56,983,404.25 77,994,829.70
Notes of cash received from other operating activities
Other cash payments relating to operating activities
In RMB
Items Amount for the current period Amount for the previous period
Current account 31,939,233.10 67,303,982.70
Letter of Credit Deposit 18,818,477.98 10,788,695.79
Total 50,757,711.08 78,092,678.49
Notes of cash paid for other operating activities
(2) Cash related to investing activities
Cash received from other investing activities
In RMB
Items Amount for the current period Amount for the previous period
Structured deposits, financial
965,100,513.30 195,000,000.00
products,
Total 965,100,513.30 195,000,000.00
Cash received from significant investing activities
In RMB
Items Amount for the current period Amount for the previous period
Structural deposits 700,000,000.00
Fixed deposit 165,100,513.30 195,000,000.00
Currency fund and others 100,000,000.00
Total 965,100,513.30 195,000,000.00
Explanation of other cash received relating to investing activities:
Cash paid for other investing activities
In RMB
Items Amount for the current period Amount for the previous period
Structured deposits, financial
1,099,000,000.00 631,537,000.00
products,
Total 1,099,000,000.00 631,537,000.00
Cash paid for important investing activities
In RMB
Items Amount for the current period Amount for the previous period
Structural deposits 200,000,000.00 400,000,000.00
Fixed deposit 649,000,000.00 80,000,000.00
Currency fund and others 250,000,000.00 151,537,000.00
Total 1,099,000,000.00 631,537,000.00
Explanation of other cash payments relating to investing activities:
(3) Cash related to financing activities
Cash received from other financing activities
107
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
In RMB
Items Amount for the current period Amount for the previous period
Total 0.00 0.00
Explanation of cash received relating to other financing activities:
Cash paid for other financing activities
In RMB
Items Amount for the current period Amount for the previous period
Lease payment 6,463,136.37 4,141,770.57
Total 6,463,136.37 4,141,770.57
Notes of cash paid for other financing activities:
Changes in liabilities arising from financing activities
√Applicable □Not applicable
In RMB
Increase in the current period Decrease in the current period
Opening
Items Changes in Non-cash Changes in Non-cash Ending balance
balance
cash changes cash changes
Short-term
8,000,000.00 0.00 0.00 8,000,000.00 0.00 0.00
borrowing
Long-term
608,190,812.09 0.00 10,936,255.43 62,052,550.83 0.00 557,074,516.69
borrowing
Lease
12,177,572.68 0.00 11,588,290.15 6,463,136.37 0.00 17,302,726.46
liabilities
Total 628,368,384.77 0.00 22,524,545.58 76,515,687.20 0.00 574,377,243.15
(4) Notes to net presentation of cash flows
No
(5) Major activities and financial impacts that do not involve current cash receipts and
payments but affect the financial position of the enterprise or may affect the cash flows of the
enterprise in the future
79. Supplementary information to the cash flow statement
(1) Supplementary information to the cash flow statement
In RMB
Items Amount in current period Amount of previous period
1. Reconciliation of net profit to cash
flows from operating activities
Net Profit 66,802,961.73 52,186,805.23
Add: asset impairment provision 57,208,873.95 44,182,267.14
Depreciation of fixed assets,
consumption of oil and gas assets 118, 638, 422.24 113,129,673.90
and productive biological assets
Depreciation of right-of-use 4,784,150.78 4,577,501.46
108
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
asset
Amortization of intangible
2,318,830.41 2,472,075.72
assets
Amortization of Long-term
1,279,415.92 1,010,991.86
deferred expenses
Losses from disposal of fixed
assets, intangible assets and other
-321.08
long-term assets (income to be listed
with "-")
Losses from discarding of
fixed assets (income to be listed with
"-")
Losses from fair value
-1,283,637.11 0.00
changes (income to be listed with "-")
Financial expenses (income to
-22,218,351.39 -9,785,585.78
be listed with "-")
Investment loss (income to be
-729,654.78 -7,387,354.69
listed with "-")
Decrease in deferred income
tax assets (increase to be listed with 6,598,642.68 1,105,321.71
"-")
Increase in deferred income
tax liabilities (decrease to be listed -226,284.52 544,086.02
with "-")
Decrease in inventory
-159,463,630.34 -140,167,792.05
(increase to be listed with "-")
Decrease in operating
receivables (increase to be listed with -133,162,455.63 -172,947,643.53
"-")
Increase in operating payables
71,287,566.00 125,482,947.69
(decrease to be listed with "-")
Other
Net cash flow arising from
11,834,849.94 14,402,973.60
operating activities
2. Significant investing and financing
activities not related to cash deposit
and withdrawal
Conversion of debt into capital
Convertible corporate bonds due
within one year
Fixed assets under financing lease
3. Net change in cash and cash
equivalents
Ending balance of cash 223,945,565.47 345,683,735.99
Less: Beginning balance of cash 461,420,457.33 874,474,834.46
Add: Ending balance of cash
equivalents
Less: Beginning balance of cash
equivalents
109
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Net increase in cash and cash
-237,474,891.86 -528,791,098.47
equivalents
(2) Net cash paid for acquisition of subsidiaries in the current period
No
(3) Net cash received from disposal of subsidiaries in the current period
No
(4) Composition of cash and cash equivalents
In RMB
Items Ending balance Opening balance
I. Cash 223,945,565.47 461,420,457.33
Including：Cash at hand 1,710.83 1,710.40
Demand bank deposit 223,943,854.64 461,418,746.93
III. Closing balance of cash and cash
223,945,565.47 461,420,457.33
equivalents
Including: cash and cash equivalents
restricted for use by the parent
0.00 0.00
company or subsidiaries within the
group
(5) The situation where the scope of use is limited but still belongs to the presentation of cash
and cash equivalents
No
(6) Cash not belonging to cash and cash equivalents
In RMB
Reasons not classified as
Items Amount in current period Amount of previous period
cash and cash equivalents
The principal and interest
of certificates of deposit Cannot be used for
0.00 265,946,593.76
maturing more than three payment at any time
months
Cannot be used for
Guarantee deposit 1,645,000.00 4,595,637.31
payment at any time
Interest on demand Cannot be used for
319,864.92 16,175.93
deposits payment at any time
Total 1,964,864.92 270,558,407.00
Other notes: None
110
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(7) Description of other major activities
80. Notes to items of the statement of changes in Owners' equity
Details of adjustments to the 'Other' items and amounts for the end-of-previous-year balance:
81. Foreign currency monetary items
(1) Foreign currency monetary items
In RMB
Balance converted into
Foreign currency ending
Items Exchange rate RMB at the end of the
balance
period
Monetary fund 112,609,230.68
Including：USD 10,882,523.89 7.1268 77,557,571.26
EUR
HKD 89,011.01 0.9127 81,240.35
Yen 782,335,997.00 0.0447 34,970,419.07
Accounts receivable 65,650,654.08
Including：USD 9,176,161.52 7.1268 65,396,667.92
EUR
HKD 278,280.00 0.9127 253,986.16
Other account receivable 502,629.12
Including：USD 70,526.62 7.1268 502,629.12
Account payable 254,891,043.20
Including：USD 6,414,583.40 7.1268 45,715,452.98
Yen 4,677,542,009.00 0.0447 209,086,127.80
HKD 98,019.52 0.9127 89,462.42
Other payable 4,754,710.89
Including：USD 663,186.00 7.1268 4,726,393.98
HKD 31,025.43 0.9127 28,316.91
Long-term borrowing
Including：USD
EUR
HKD
Other notes:
(2) Description of overseas operating entities, including for important overseas operating
entities, the main overseas business place, functional currency and selection basis shall be
disclosed, and the reasons for changes in functional currency shall also be disclosed.
□ Applicable√ Not applicable
111
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
82. Leasing
(1) The Company as the lessee
√Applicable □Not applicable
Variable lease payments not included in the measurement of lease liabilities
□ Applicable√ Not applicable
Simplified treatment of short-term leases or leasing fees for low-value assets
√Applicable □Not applicable
The Company has leased a number of assets, including houses and buildings, with lease terms ranging from 1 to 10
years. The above-mentioned right-of-use assets cannot be used for the purpose of loan mortgage, guarantee, etc.
The Company does not have variable lease payments that are not included in the measurement of lease liabilities.
The simplified treatment of short-term lease expenses recognized in the current profit and loss is RMB 676,430.33
(previous year: RMB1,097,491.43).
The total cash outflow related to leases for the current year is RMB 6,547,136.37 (previous year: RMB 4,218,770.57).
Circumstances involving sale and leaseback transactions
No sale-and-leaseback transactions during the reporting period.
(2) The Company as the lessor
Operating lease as a lessor
√Applicable □Not applicable
In RMB
Thereinto: Income related to variable
Items Lease income lease payments that are not included
in lease receipts
Houses & buildings 49,398,187.41 0.00
Total 49,398,187.41 0.00
Financing lease as a lessor
□ Applicable√ Not applicable
Undiscounted lease receipts for each of the next five years
√Applicable □Not applicable
In RMB
Undiscounted lease receipts per annum
Items
Ending amount Beginning amount
First year 93,303,684.15 74,399,477.80
Second year 54,224,939.16 54,475,653.29
Third year 46,820,127.61 44,564,404.34
Fourth year 23,571,049.27 29,708,115.33
Fifth year 19,527,179.06 9,346,233.32
Total undiscounted lease receipts
17,128,800.00 7,327,310.40
after five years
Reconciliation table of undiscounted lease receipts and net lease investment
112
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(3) Recognize profit or loss on finance lease sales as a manufacturer or distributor
□ Applicable√ Not applicable
83. Data resources
84. Others
8. R&D expenditure
In RMB
Items Amount for the current period Amount for the previous period
26. Employee Remuneration 7,295,182.68 8,292,440.77
Material consumption 38,356,905.93 25,540,854.61
Depreciation cost 1,667,334.64 1,686,985.39
Other 551,440.21 483,907.85
Total 47,870,863.46 36,004,188.62
Including: Expensed R&D
47,870,863.46 36,004,188.62
expenditures
Capitalized R&D expenditures 0.00 0.00
1. R&D projects eligible for capitalization
Note: The Group has no R&D project development expenditure that meets the conditions
for capitalization.
2. Important outsourcing projects under research
The Group has no significant outsourced R&D projects under development.
9. Changes in the scope of consolidation
1. Business combination not under common control
(1) Business combination not under common control occurred in the current period
No
(2) Combination costs and goodwill
No
(3) Identifiable assets and liabilities of the acquiree on the acquisition date
No
113
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(4) Gains or losses arising from the re-measurement of equity held before the acquisition date at fair value
Whether there is a transaction that achieves the business combination step by step through multiple transactions and
obtains the control during the reporting period
□ Yes √ No
(5) Relevant explanations for the inability to reasonably determine the acquisition consideration or the fair
value of identifiable assets and liabilities of the acquiree at the acquisition date or the end of the reporting
period of combination.
(6) Other notes
2. Business combination under common control
(1) Business combination under common control occurred in the current period
No
(2) Combination cost
No
(3) Book value of the combined party's assets and liabilities on the combination date
No
3. Reverse acquisition
Basic transaction information, the basis for the transaction constituting a reverse acquisition, assets retained by the
listed company, whether liabilities constitute a business and the basis thereof, determination of the merger cost, and
the amount and calculation of equity adjustments when treated as an equity transaction:
4. Disposal of subsidiaries
Whether there is any transaction or event that results in the loss of control over the subsidiaries in the current period
□ Yes √ No
Whether there is a situation where the investment in subsidiaries is disposed of through multiple transactions and the
control is lost in the current period
□ Yes √ No
5. Changes in the scope of consolidation for other reasons
Explain changes in the scope of consolidation due to other reasons (e.g., establishment of new subsidiaries,
liquidation of subsidiaries) and their relevant circumstances:
There have been no changes in the scope of consolidation for the Group.
114
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
6. Others
10. Equity interests in other entities
1. Equity in subsidiaries
(1) Composition of the enterprise group
In RMB
Proportion of shares held
Subsidiary Registered Main place Place of Business (%) Acquisition
name capital of business registration nature method
Direct Indirect
Shenzhen
Lisi 2,360,000.0 Lease of Establishme
Shenzhen Shenzhen 100.00%
Industrial 0 property nt
Co., Ltd.
Shenzhen
Huaqiang 10,005,300. Lease of Establishme
Shenzhen Shenzhen 100.00%
Hotel Co., 00 property nt
Ltd
Shenzhen
Shenfang Property
1,600,400.0 Establishme
Real Estate Shenzhen Shenzhen manageme 100.00%
0 nt
Manageme nt
nt Co., Ltd.
Shenzhen
Beauty Textile
13,000,000. Establishme
Century Shenzhen Shenzhen production 100.00%
00 nt
Garment and sales
Co., Ltd.
Shenzhen
Shenfang
Property
Sungang 1,000,000.0 Establishme
Shenzhen Shenzhen manageme 100.00%
Real Estate 0 nt
nt
Manageme
nt Co., Ltd.
Shenzhen
Production
SOPO 583,333,33
Shenzhen Shenzhen and sales of 60.00% Acquisition
Photoelectri 3.00
polarizer
c Co., Ltd.
Shengtou
HKD10,000.0 Sales of Establishme
(HK) Co., Hongkong Hongkong 100.00%
0 polarizer nt
Ltd.
Description of the shareholding ratio in the subsidiary that is different from the voting rights ratio:
Basis for holding half or less of the voting rights but still controlling the investee, and holding more than half of the
voting rights but not controlling the investee:
For important structured entities included in the scope of consolidation, basis for control:
Basis for determining whether the company is an agent or a principal:
Other notes:
115
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(2) Significant non-wholly-owned subsidiaries
In RMB
Profit or loss
Dividends declared
attributable to Balance of minority
Minority shareholding to minority
Subsidiary name minority equity at the end of
ratio shareholders for the
shareholders for the the period
current period
current period
Shenzhen SOPO
Photoelectric Co., 40.00% 22,908,886.50 0.00 1,252,673,978.24
Ltd.
Description of the shareholding ratio in the minority shareholders of subsidiary that is different from the voting rights
ratio:
Other notes:
(3) Main financial information of significant non-wholly-owned subsidiaries
In RMB
Ending balance Opening balance
Subsi Non- Non-
Non- Curre Total Non- Curre Total
diary Curre curren Curre curren
curren Total nt of curren Total nt of
name nt t nt t
t assets liabiliti liabilit t assets liabiliti liabilit
assets liabiliti assets liabiliti
assets es y assets es y
es es
Shenz
hen
SOPO 2,374, 2,103, 4,477, 794,7 556,9 1,351, 2,224, 2,215, 4,440, 762,6 608,9 1,371,
Photo 836,8 139,9 976,7 14,54 38,02 652,5 998,8 651,4 650,3 85,43 12,88 598,3
electri 45.04 36.87 81.91 2.90 8.96 71.86 68.32 49.74 18.06 5.65 8.60 24.25
c Co.,
Ltd.
In RMB
Amount for the current period Amount for the previous period
Subsidiary Total Cash flow Total Cash flow
name Operating comprehe from Operating comprehe from
Net Profit Net Profit
income nsive operating income nsive operating
income activities income activities
Shenzhen
SOPO
1,570,484, 57,272,21 2,305,968. 1,417,425, 39,699,10 13,933,90
Photoelect 0.00 0.00
564.74 6.24 09 087.50 5.65 5.32
ric Co.,
Ltd.
Other notes:
(4) Major restrictions on the use of the assets of the enterprise group and the settlement of the debts of the
enterprise group
(5) Financial support or other support provided to structured entities included in the scope of consolidated
financial statements
Other notes:
116
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
2. Transactions of changes in the share of Owners' equity in subsidiaries and still control the
subsidiaries
(1) Description of changes in the share of Owners' equity in subsidiaries
(2) Impact of the transaction on minority equity and equity attributable to shareholders
No
3. Equity in joint venture arrangements or associates
(1) Important joint ventures or associated enterprises
No
(2) Main financial information of important joint ventures
No
(3) Main financial information of important associated enterprise
No
(4) Summary financial information of insignificant joint ventures and associated enterprise
In RMB
Ending balance/amount incurred in Beginning balance/amount incurred
the current period in the previous period
Joint ventures Associated enterprise
Total book value of investment 118,145,787.78 127,314,050.41
Total of the following items calculated
by shareholding ratio
-Net profit -4,224,706.30 -2,192,221.35
-Other comprehensive income 0.00 0.00
-Total comprehensive income -4,224,706.30 -2,192,221.35
Associated enterprise
Total book value of investment 3,477,034.37 5,111,476.00
Total of the following items calculated
by shareholding ratio
-Net profit -23,027.82 80,961.32
-Other comprehensive income -115,825.06 54,950.70
-Total comprehensive income -138,852.88 135,912.02
Other notes
117
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(5) Explanation on significant restrictions on the ability of joint ventures or associated
enterprises to transfer funds to the Company
(6) Excess losses incurred by joint ventures or associated enterprise
No
(7) Unrecognized commitments related to investment in joint ventures
(8) Contingent liabilities related to investments in joint ventures or associated enterprise
4. Important joint operation
No
5. Equity in structured entities not included in the scope of consolidated financial statements
Explanation related to structured entities not included in the consolidated financial statements:
6. Others
11. Government subsidies
1. Government subsidies recognized as receivable at the end of the reporting period
□ Applicable√ Not applicable
Reasons for not receiving the anticipated amount of government subsidies at the expected time
□ Applicable√ Not applicable
2. Liability items involving government subsidies
√Applicable □Not applicable
In RMB
Amount
Amount
Amount of included in
transferred Other
new non- Related to
Accounting Opening to other changes in Ending
subsidies in operating assets/inco
item balance income in the current balance
the current income in me
the current period
period the current
period
period
Deferred 97,485,986. 3,500,000.0 8,268,063.6 92,717,923. Asset-
0.00 0.00
income 89 0 5 24 related
Deferred 3,103,095.1 3,103,095.1 Earnings
0.00 0.00 0.00 0.00
income 1 1 related
3. Government subsidies included in the current period's profit and loss
√Applicable □Not applicable
118
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
In RMB
Accounting item Amount for the current period Amount for the previous period
Other income 11,371,158.76 19,369,307.55
Other notes:
12. Risks related to financial instruments
1. Various risks arising from financial instruments
THE COMPANY'S MAIN FINANCIAL INSTRUMENTS INCLUDE MONETARY
FUNDS, TRANSACTIONAL FINANCIAL ASSETS, NOTES RECEIVABLE,
ACCOUNTS RECEIVABLE, ACCOUNTS RECEIVABLE FINANCING, OTHER
RECEIVABLES, OTHER EQUITY INSTRUMENTS INVESTMENT, SHORT-
TERM LOANS, ACCOUNTS PAYABLE, OTHER PAYABLES, OTHER CURRENT
LIABILITIES, LONG-TERM LOANS AND LEASE LIABILITIES, ETC. AT THE
END OF THIS REPORTING PERIOD, THE FINANCIAL INSTRUMENTS HELD
BY THE COMPANY ARE AS FOLLOWS. THE RISKS ASSOCIATED WITH
THESE FINANCIAL INSTRUMENTS AND THE RISK MANAGEMENT POLICIES
ADOPTED BY THE COMPANY TO REDUCE THESE RISKS ARE AS FOLLOWS.
THE MANAGEMENT OF THE COMPANY MANAGES AND MONITORS THESE
RISK EXPOSURES TO ENSURE THAT THE ABOVE RISKS ARE
CONTROLLED WITHIN A LIMITED RANGE.
Unit: RMB
Items Ending balance Opening balance
Financial assets
Measured at fair value, with its changes included in current
profits and losses
Transaction financial assets 958,694,300.63 821,946,114.68
Measured at fair value, with its changes included in other
comprehensive income
Financing of receivables 1,764,753.26 22,839,459.13
Other equity instruments investment 145,988,900.00 145,988,900.00
Measured in amortized cost
Monetary fund 225,910,430.39 472,274,448.00
Note receivable 36,077,741.23 50,963,943.01
Accounts receivable 989,669,064.26 820,134,833.95
Other account receivable 2,869,233.51 3,219,287.77
Financial Liability
119
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Measured in amortized cost
Short-term borrowing - 8,000,000.00
Notes payable 10,743,421.84 31,049,291.49
Account payable 474,563,073.82 408,548,136.24
Other payable 180,013,733.22 184,528,344.55
Other current liability 34,511,748.51 42,665,954.11
Long-term borrowing 557,074,516.69 608,190,812.09
THE COMPANY USES SENSITIVITY ANALYSIS TECHNOLOGY TO ANALYZE
THE POSSIBLE IMPACT OF REASONABLE AND POSSIBLE CHANGES IN
RISK VARIABLES ON CURRENT PROFITS AND LOSSES AND
SHAREHOLDERS' EQUITY. BECAUSE ANY RISK VARIABLE RARELY
CHANGES IN ISOLATION, AND THE CORRELATION BETWEEN VARIABLES
WILL HAVE A GREAT IMPACT ON THE FINAL AMOUNT OF A RISK VARIABLE
CHANGE, THE FOLLOWING CONTENTS ARE CARRIED OUT UNDER THE
ASSUMPTION THAT EACH VARIABLE CHANGE IS INDEPENDENT.
1. Risk management objectives, policies and procedures, and changes
occurred during the year
THE COMPANY'S GOAL IN RISK MANAGEMENT IS TO STRIKE A PROPER
BALANCE BETWEEN RISKS AND BENEFITS, REDUCE THE NEGATIVE
IMPACT OF RISKS ON THE COMPANY'S OPERATING PERFORMANCE TO
THE LOWEST LEVEL, AND MAXIMIZE THE INTERESTS OF SHAREHOLDERS
AND OTHER EQUITY INVESTORS. BASED ON THIS RISK MANAGEMENT
GOAL, THE BASIC STRATEGY OF THE COMPANY'S RISK MANAGEMENT IS
TO IDENTIFY AND ANALYZE ALL KINDS OF RISKS FACED BY THE GROUP,
ESTABLISH AN APPROPRIATE RISK TOLERANCE BOTTOM LINE AND
CONDUCT RISK MANAGEMENT, AND TIMELY AND RELIABLY SUPERVISE
ALL KINDS OF RISKS TO CONTROL THE RISKS WITHIN A LIMITED RANGE.
1.1 MARKET RISK
1.1.1 FOREIGN EXCHANGE RISK
Foreign exchange risk refers to the risk of losses caused by exchange rate
changes. The Group's foreign exchange risks are mainly related to US dollars,
Japanese yen, Hong Kong dollars and euros. Except for some import purchases
and export sales of the Group's companies located in Chinese mainland which are
mainly settled in US dollars, Japanese yen, Hong Kong dollars and Euros, other
major business activities of the Company are settled in RMB.
120
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
As of June 30, 2024, the Company's assets and liabilities were all RMB balances,
except for the monetary items in foreign currencies mentioned in Notes 81. The
foreign exchange risks arising from the assets and liabilities with foreign currency
balances (converted into RMB) described in the table below may have an impact
on the Company's operating results.
Unit: RMB
Ending balance
Items
Assets Liabilities
USD 143,456,868.30 50,441,846.96
Yen 34,970,419.07 209,086,127.80
EUR - -
HKD 335,226.51 117,779.33
Subtotal 178,762,513.88 259,645,754.09
The Company pays close attention to the impact of exchange rate changes on the
Group's foreign exchange risk, and takes any measures to avoid foreign
exchange risks based on actual situation.
Sensitivity analysis of foreign exchange risk
SENSITIVITY ANALYSIS OF FOREIGN EXCHANGE RISK ASSUMES THAT
ALL NET INVESTMENT HEDGING AND CASH FLOW HEDGING OF
OVERSEAS OPERATIONS ARE HIGHLY EFFECTIVE.
ON THE BASIS OF THE ABOVE ASSUMPTIONS, WITH OTHER VARIABLES
UNCHANGED, THE PRE-TAX IMPACT OF POSSIBLE REASONABLE
EXCHANGE RATE CHANGES ON CURRENT PROFITS AND LOSSES AND
SHAREHOLDERS' EQUITY IS AS FOLLOWS:
Unit: RMB
Amount for the current period
Items Changes in exchange rate Impact on shareholders'
Impact on profits
equity
All foreign currencies Appreciation of RMB by 5% -4,044,162.01 -4,044,162.01
All foreign currencies Depreciation of RMB by 5% 4,044,162.01 4,044,162.01
1.1.2. Interest rate risk - risk of cash flow change
The Company's risk of cash flow changes of financial instruments caused by
interest rate changes is mainly related to bank loans with floating interest rate.
The Company continues to pay close attention to the impact of interest rate
changes on the Company's interest rate risk. The Company's policy is to maintain
floating interest rates on these loans, and there is no interest rate swap
arrangement at present.
SENSITIVITY ANALYSIS OF INTEREST RATE RISK
WITH OTHER VARIABLES UNCHANGED, THE PRE-TAX IMPACT OF
POSSIBLE REASONABLE INTEREST RATE CHANGES ON CURRENT
PROFITS AND LOSSES AND SHAREHOLDERS' EQUITY IS AS FOLLOWS:
Unit: RMB
Items Changes in exchange rate Amount for the current period
121
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Impact on profits Impact on shareholders' equity
Floating-rate loan Increase by 1% -5,564,997.85 -5,564,997.85
Floating-rate loan Decrease by 1% 5,564,997.85 5,564,997.85
1.2. Credit risk
As at June 30, 2024, the largest credit risk exposure that may cause the
Company's financial losses mainly came from the loss of the Group's financial
assets caused by the failure of the other party to the contract, including monetary
funds, transactional financial assets, notes receivable, accounts receivable,
receivables financing and other receivables. On the balance sheet date, the book
value of the Company's financial assets has represented its maximum credit risk
exposure.
In order to reduce the credit risk, the Company arranges special personnel to
determine the credit limit, conduct credit approval and implement other monitoring
procedures to ensure that necessary measures are taken to recover overdue
debts. In addition, the Group reviews the recovery of financial assets on each
balance sheet date to ensure that sufficient credit loss provision has been made
for relevant financial assets. Therefore, the management of the Company believes
that the credit risk assumed by the Group has been greatly reduced.
The Company's monetary funds are deposited in banks with high credit ratings, so
the monetary funds only have low credit risk.
As at June 30, 2024, the balance of accounts receivable of the Group to the top
five customers was RMB 641,216,097.39, accounting for 61.56% of the balance
of accounts receivable of the Group. In addition, the Company has no other
significant credit risk exposure concentrated in a single financial asset or financial
asset portfolio with similar characteristics.
1.3 Liquidity risk
When managing liquidity risk, the Company maintains sufficient cash and cash
equivalents as deemed by the management and monitors them to meet the
Company's business needs and reduce the impact of cash flow fluctuations. The
management of the Company monitors the use of bank loans and ensures
compliance with the loan agreement.
AS OF JUNE 30, 2024, THE COMPANY'S UNUSED COMPREHENSIVE BANK
CREDIT LINE WAS RMB 880,030,000.
THE COMPANY'S HELD FINANCIAL LIABILITIES ARE ANALYZED BY THE
MATURITY OF THE UNDISCOUNTED REMAINING CONTRACTUAL
OBLIGATIONS AS FOLLOWS:
Unit: RMB
Items Within one year 1-5 years Over 5 years Total
122
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Short-term borrowing - -
Notes payable 10,743,421.84 10,743,421.84
Account payable 474,563,073.82 474,563,073.82
Other payable 180,013,733.22 180,013,733.22
Other current liability 34,511,748.51 34,511,748.51
Long-term borrowing 118,165,372.13 483,539,244.56 601,704,616.69
Lease liabilities 7,654,102.24 7,854,890.47 3,770,478.69 19,279,471.40
2. Hedging
(1) The company carries out hedging business for risk management
□ Applicable√ Not applicable
(2) The company carries out eligible hedge business and applies hedge accounting
No
(3) The company carries out hedging business for risk management, and is expected to achieve the risk
management objectives but has not applied hedge accounting
□ Applicable√ Not applicable
3. Financial assets
(1) Classification of transfer methods
√Applicable □Not applicable
In RMB
The basis for
The nature of the The amount of
Derecognition determining the
Transfer method transferred financial financial assets
information situation of
assets transferred
derecognition
The credit risk level
of the accepting bank
of the banker's
acceptance bill
transferred by
Outstanding banker's endorsement is
Endorsement acceptance bill that relatively high, and
78,263,227.37 Derecognition
transfer is classified as the risks and rewards
financings receivable of the financing
ownership of the
corresponding
receivables have
almost all been
transferred.
Unexpired banker's The credit risk level
Endorsement acceptance bill of the accepting bank
34,511,748.51 Non-derecognition
transfer classified as bills of the banker's
receivable acceptance bill
123
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
transferred by
endorsement is not
high, and almost all
the risks and rewards
of the ownership of
the related bills
receivable are
reserved.
Total 112,774,975.88
(2) Financial assets derecognized due to transfer
√Applicable □Not applicable
In RMB
Method for the financial The amount of the financial Gains or losses related to
Items
assets transferred asset derecognized derecognition
Financing of receivables Endorsement transfer 78,263,227.37 0.00
Total 78,263,227.37 0.00
(3) Assets transfer financial assets that continue to be involved
√Applicable □Not applicable
In RMB
Amount of assets resulting Amount of liability arising
Items Asset transfer method from continued from continued
involvement involvement
Note receivable Endorsement transfer 0.00 34,511,748.51
Total 0.00 34,511,748.51
Other notes
13. Disclosure of fair value
1. Ending fair value of assets and liabilities measured at fair value
In RMB
Fair value at the end of the period
Items Fair value Fair value Fair value
measurement of measurement of measurement of Total
Level 1 Level 2 Level 3
I. Ongoing fair value
-- -- -- --
measurement
(I) Trading financial
958,694,300.63 958,694,300.63
assets
1. Financial assets
measured at fair
value with changes 958,694,300.63 958,694,300.63
recognized in the
current profit or loss
(III) Other equity 145,988,900.00 145,988,900.00
124
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
instrument
investments
(VI) Financing of
1,764,753.26 1,764,753.26
accounts receivable
Total assets
continuously
958,694,300.63 147,753,653.26 1,106,447,953.89
measured at fair
value
II. Non-recurring fair
-- -- -- --
value measurements
2. Basis for determining the market price of items measured at fair value of the first level on a
continuous and non-continuous basis
3. Qualitative and quantitative information on valuation techniques and important parameters
adopted for continuous and non-continuous Level 2 fair value measurement items
Unit: RMB
End of the year Valuation
Items Input value
Fair value technique
Discounted cash
Transaction financial assets 958,694,300.63 Expected yield
flow technique
4. Qualitative and quantitative information on valuation techniques and important parameters
adopted for continuous and non-continuous Level 3 fair value measurement items
Unit: RMB
End of the year
Items Valuation technique Input value
Fair value
Discounted cash
Financing of receivables 1,764,753.26 Discount rate
flow technique
Comparison of listed P/B ratio of similar
companies listed companies
Other equity instruments investment 145,988,900.00 Comparable income
Market price
method
Statement
Book value
adjustment method
125
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
5. Sensitivity analysis of adjustment information and non-observable parameters between
opening and closing book value of continuous third-level fair value measurement items
6. For items measured at fair value on a going concern, if there is any transfer between
different levels in the current period, the reason for the transfer and the policy for determining
the transfer time
7. Changes in valuation techniques in the current period and the reasons for the changes
8. Fair value of financial assets and financial liabilities not measured at fair value
Financial assets and liabilities not measured at fair value mainly include monetary funds, notes receivable, accounts
receivable, other receivables, short-term loans, accounts payable, other payables, long-term loans and lease liabilities.
The management of the Company believes that the book values of financial assets and financial liabilities measured in
amortized cost in the financial statements are close to their fair values.
9. Others
14. Related parties and related transactions
1. Parent company information
Shareholding Voting rights
Name of parent Place of Registered scale of the scale of the
Business nature
company registration capital parent company parent company
in the Company in the Company
18/F, Investment
Shenzhen Equity
Building,
Investment investment, 32,686,000,000.
Shennan Road, 46.21% 46.21%
Holdings Co., real estate 00
Futian District,
Ltd. development, etc
Shenzhen
Description of the parent company
The parent company of the Company is a wholly state-owned company approved
and authorized by the Shenzhen Municipal Government, and exercises the
investor function for the state-owned enterprises within the authorized scope
according to law.
During the reporting period, the changes in the registered capital of the parent
company are as follows:
In RMB 10,000
Balance as at January
Increase this year Decrease this year December 31,2023
1, 2023
3,235,900.00 32,700.00 - 3,268,600.00
The ultimate controlling party of the enterprise is the State-owned Assets Regulatory Commission of Shenzhen
Municipal People's Government.
Other notes:
126
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
2. Subsidiaries of the Company
For details of the subsidiaries of the Company, please refer to notes 10. Equity interests in other entities.
3. Joint ventures and associates of the Company
See notes 10. Equity interests in other entities for details of the important joint ventures or associates of the enterprise.
The following joint ventures or associates had transactions with the Company during the current period, or had
balances formed from transactions in previous periods:
No
4. Other related parties
Relationship between other related parties and the
Names of other related parties
enterprise
The Company's shareholding company and the chairman
Shenzhen Xinfang Knitting Co., Ltd.
of the company are the employees of the Group
The Company's shareholding company and the chairman
Shenzhen Dailishi Underwear Co., Ltd.
of the company are the employees of the Group
Minority shareholder of SAPO Photoelectric , a subsidiary
Hengmei Photoelectric Co., Ltd. of the Company, one of whose directors is a supervisor of
SAPO Photoelectric
A subsidiary of Shenzhen Investment Holdings Limited,
Shenzhen Shentou Property Development Co.Ltd
the parent company of the Company
A subsidiary of Shenzhen Investment Holdings Limited,
Shenzhen Investment Building Hotel Co., Ltd
the parent company of the Company
Shenzhen Investment Building Property Management A subsidiary of Shenzhen Investment Holdings Limited,
Co., Ltd the parent company of the Company
A subsidiary of Shenzhen Investment Holdings Limited,
Shenzhen SGE Longyan Energy Technology Co., Ltd.
the parent company of the Company
A subsidiary of Shenzhen Investment Holdings Limited,
Guoren P&C Co., Ltd. Shenzhen Branch
the parent company of the Company
Shenzhen Talent Service Center (Shenzhen Talent A subsidiary of Shenzhen Investment Holdings Limited,
Market) the parent company of the Company
A subsidiary of Shenzhen Investment Holdings Limited,
Shenzhen Property Management Co., Ltd.
the parent company of the Company
A subsidiary of Shenzhen Investment Holdings Limited,
Shenzhen Legal Training Centre Co., Ltd.
the parent company of the Company
Other notes
5. Related party transactions
(1) Related transactions for the purchase and sale of commodities, the provision and receipt
of services
Purchase of goods/receipt of labor services
In RMB
Content of Whether the
Amount for the Approved Amount for the
Related party related party transaction limit
current period transaction limit previous period
transaction is exceeded
Hengmei Optical film 2,874.60 4,514,981.37
127
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Photoelectric materials and
Co., Ltd. processing
Shenzhen SGE
Longyan Energy Purchasing
513,812.22 540,788.98
Technology Co., electricity
Ltd.
Guoren P&C
Co., Ltd. Insurance
103,331.85 0.00
Shenzhen expenses
Branch
Shenzhen Talent
Service Center Outsourcing
31,865.09 0.00
(Shenzhen service fee
Talent Market)
Shenzhen
Property Property
21,132.37 0.00
Management management fee
Co., Ltd.
Shenzhen Legal
Training Centre Training fees 1,485.00 0.00
Co., Ltd.
Sales of goods/rendering of services
In RMB
Content of related party Amount for the current Amount for the previous
Related party
transaction period period
Hengmei Photoelectric Co.,
Polarizer sheet 0.00 4,744,631.12
Ltd.
Shenzhen Shentou
Property Development Textile 0.00 54,991.15
Co.Ltd
Shenzhen Investment
Textile 0.00 40,614.16
Building Hotel Co., Ltd.
Shenzhen Investment
Building Property Textile 0.00 26,247.79
Management Co., Ltd.
Shenzhen Investment
Textile 0.00 15,371.68
Holdings Co., Ltd.
Description of related transactions for buying and selling goods, and providing and receiving services
(2) Associated trusteeship/contracting and commissioned management/outsourcing situation
Explanation of associated trusteeship/contracting situations
No associated trusteeship/contracting situations during the reporting period.
Explanation of associated management/outsourcing situations
No associated management/outsourcing situations during the reporting period.
(3) Related leasing
No related leasing situations during the reporting period.
128
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(4) Related guarantees
No related guarantee situations during the reporting period.
(5) Loans from and to related parties
In RMB
Related party Borrowing amount Start date Due date Notes
Borrowing
Shenzhen Guanhua
The annual lending
Printing & Dyeing 3,806,454.17 July 30, 2019 July 31, 2024
rate is 0.30%
Co., Ltd.
Lending
(6) Assets transfer and debt restructuring of related parties
No
(7) Remuneration of key management personnel
In RMB
Items Amount for the current period Amount for the previous period
Rewards for the key management
2,266,711.24 2,653,076.00
personnel
(8) Other related party transactions
6. Receivables from and payable to related parties
(1) Receivable items
In RMB
Ending balance Opening balance
Name Related party Bad debt Bad debt
Book balance Book balance
provision provision
Shenzhen
Other account Dailishi
550,000.00 27,500.00 1,100,000.00 58,850.00
receivable Underwear Co.,
Ltd.
Shenzhen
Other account Guanhua
0.00 0.00 41,325.00 0.00
receivable Printing &
Dyeing Co., Ltd.
(2) Payable items
In RMB
Name Related party Book balance at period end Beginning book balance
Other payable Hongkong Yehui 1,124,656.60 1,124,656.60
129
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
International Co., Ltd.
Shenzhen Changlianfa
Other payable 2,281,299.95 2,023,699.95
Printing & dyeing Company
Shenzhen Guanhua
Other payable 3,816,981.88 3,811,272.20
Printing & Dyeing Co., Ltd.
Shenzhen Xinfang Knitting
Other payable 244,789.85 244,789.85
Co., Ltd.
Shenzhen Investment
Other payable 0.00 485,189.00
Holdings Co., Ltd.
7. Commitments of related parties
No commitments of related parties during the reporting period.
8. Others
15. Share-based payment
1. Overall situation of share-based payment
□ Applicable√ Not applicable
2. Equity-settled share-based payment
□ Applicable√ Not applicable
3. Cash-settled share-based payment
□ Applicable√ Not applicable
4. Share-based payment expenses in the current period
□ Applicable√ Not applicable
5. Modification and termination of share-based payment
6. Others
16. Commitments and contingencies
1. Important commitments
Significant commitments existing on the Balance Sheet Date
Unit: RMB
Items Ending amount Beginning amount
Contracted but not recognized in the financial
statements
Commitment to purchase and build long-term 1,462,417.00 2,413,823.52
130
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
assets
2. Contingencies
(1) Significant contingencies existing on the Balance Sheet Date
No pending litigation, external guarantees and other contingencies that shall be
disclosed during the reporting period.
(2) If the Company has no important contingencies required to be disclosed, it shall also be
explained
There were no significant contingencies required to be disclosed.
3. Others
17. Events after the balance sheet date
1. Important non-adjusting matters
No
2. Profit distribution
No
3. Sales returns
4. Notes to other events after the Balance Sheet Date
18. Other significant events
1. Correction of accounting previous errors
(1) Retrospective restatement method
No
(2) Future applicable law
No
131
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
2. Debt restructuring
3. Assets replacement
(1) Exchange of non-monetary assets
(2) Replacement of other assets
4. Annuity plan
5. Discontinued operation
No
6. Segment information
(1) Determination basis and accounting policies for report segments
According to the Company's internal organizational structure, management
requirements and internal reporting system, the Company's business operations
are divided into three business segments, and the management of the Company
regularly evaluates the operating results of these segments to determine the
allocation of resources and evaluate the performance. On the basis of operating
segments, the Company has identified the following three reporting segments:
polarizer business, property leasing business and textile business.
The information reported by each segment is disclosed according to the
accounting policies and measurement standards adopted by each segment when
reporting to the management, and these measurement bases are consistent with
those used when preparing financial statements
(2) Financial information of report segments
In RMB
Lease of Property
Items Polarizer sheet Inter-segment offsets Total
and others
Operating income:
External transaction
1,565,218,878.94 58,165,272.96 1,623,384,151.90
income
Inter-segment
1,353,373.96 -1,353,373.96
transaction income
Total operating
1,565,218,878.94 59,518,646.92 -1,353,373.96 1,623,384,151.90
income of segment
Operating expenses
1,466,802,290.16 44,045,235.30 -1,324,457.20 1,509,523,068.26
(note)
Operating profit 61,588,154.93 20,174,447.62 -1,728,916.76 80.033.685.79
Net Profit 53,484,741.63 15,050,465.40 -1,732,245.30 66,802.961.73
Total assets of 4,430,368,471.46 3,246,993,793.77 -2,028,812,526.81 5,648,549,738.42
132
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
segment
Total liabilities of
1,349,172,802.62 214,495,505.66 -60,799,147.77 1,502,869,160.51
segment
(3) If the Company has no report segments, or cannot disclose the total assets and total
liabilities of each report segment, it shall explain the reasons
(4) Other notes
Note: This item includes operating costs, taxes and surcharges, management
costs, R&D expenses, sales expenses and financial expenses.
7. Other important transactions and events that affect the decision-making of investors
8. Others
19. Notes to the major items of the parent company's Financial Statements
1. Accounts receivable
(1) Disclosure by aging
In RMB
Aging Book balance at period end Beginning book balance
Within 1 year (including 1 year) 10,071,575.08 10,190,859.62
2-3 years 2,485,076.00
Over 3 years 2,485,076.00
3-4 years 2,485,076.00
Total 12,556,651.08 12,675,935.62
(2). Disclosure under the methods of provision for bad debts by category
In RMB
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Categor
y Accrual Book Accrual Book
Proporti value Proporti value
Amount Amount proporti Amount Amount proporti
on on
on on
Inclu
ding：
Account
s
receiva
ble with 12,556, 100.00 43,141. 12,513, 12,675, 100.00 4,311.9 12,671,
0.34% 0.03%
provisio 651.08 % 77 509.31 935.62 % 7 623.65
n for
bad
debts
133
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
by
combin
ation
Inclu
ding：
12,556, 100.00 43,141. 12,513, 12,675, 100.00 4,311.9 12,671,
Total 0.34% 0.03%
651.08 % 77 509.31 935.62 % 7 623.65
Category name of provision for bad debts by portfolio: Provision for bad debts by portfolio
In RMB
Ending balance
Name
Book balance Bad debt provision Accrual proportion
Withdrawal of bad debt
12,556,651.08 43,141.77 0.34%
provision by portfolio
Total 12,556,651.08 43,141.77
Description of the basis for determining the combination:
As of June 30, 2024, the provision for bad debts is made based on the simplified
model of expected credit losses.
If the provision for bad debts of accounts receivable is made according to the general expected credit loss model:
□ Applicable√ Not applicable
(3) Status of bad debt provision, recovery, or reversal for the period
Provision for bad debts in the current period:
In RMB
Amount of change for the period
Opening Ending
Category Recovery or
balance Accrual Write-off Other balance
reversal
Bad debt
4,311.97 113,819.52 -74,989.72 43,141.77
provision
Total 4,311.97 113,819.52 -74,989.72 43,141.77
Where accounts receivable with significant from provision for bad debts or recovered in the current period
No significant recovery or reversal of provision for bad debts occurred in the current
period.
(4) Situation of accounts receivable actually written off in the current period
No actual write-off of account receivable occurred in the current period.
(5) Accounts receivable and contractual assets collected from the debtors which rank the first
five at the end of period
In RMB
Name Accounts Ending balance Ending balance Proportion in the Ending balance
134
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
receivable of contractual of accounts total ending of provision for
balance at the assets receivable and balance of bad debts of
end of period contractual accounts accounts
assets receivable and receivable and
contractual provision for
assets impairment of
contractual
assets
Total receivables
of the top five
12,315,731.26 12,315,731.26 98.08% 30,890.44
balances on
June 30, 2024
Total 12,315,731.26 12,315,731.26 98.08% 30,890.44
2. Other receivables
In RMB
Items Ending balance Opening balance
Interest receivable 0.00 0.00
Dividend receivable 0.00 0.00
Other account receivable 26,806,548.49 14,013,552.95
Total 26,806,548.49 14,013,552.95
(1) Interest receivable
1) Classification of interest receivable
In RMB
Items Ending balance Opening balance
Total 0.00 0.00
2) Significant overdue interest
No
3) Disclosure under the methods of provision for bad debts by category
□ Applicable√ Not applicable
4) Status of bad debt provision, recovery, or reversal for the period
No
5) Situation of interest receivable actually written off in the current period
No
135
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(2) Dividends receivable
1) Classification of dividends receivable
In RMB
Project (or investee) Ending balance Opening balance
Total 0.00 0.00
2) Important dividends receivable with aging over 1 year
No
3) Disclosure under the methods of provision for bad debts by category
□ Applicable√ Not applicable
4) Status of bad debt provision, recovery, or reversal for the period
No
5) Situation of dividends receivable actually written off in the current period
No
(3) Other receivables
1) Classification of other receivables by nature
In RMB
Payment nature Book balance at period end Beginning book balance
Deposit and security deposit 10,000.00 10,000.00
External unit transactions 14,799,339.97 15,349,339.97
Related party transactions within the
25,821,695.88 12,553,241.09
consolidation scope
Reserve funds and employee loans 65,000.00 0.00
Other 1,346,538.60 1,364,497.85
Total 42,042,574.45 29,277,078.91
2) Disclosure by aging
In RMB
Aging Book balance at period end Beginning book balance
Within 1 year (including 1 year) 14,322,360.17 1,683,810.52
1-2 years 253,734.24 2,213,073.28
2-3 years 7,086,284.93 10,100,800.01
Over 3 years 20,380,195.11 15,279,395.10
3-4 years 5,100,800.01 0.00
136
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
4 to 5 years 0.00 234,716.25
Over 5 years 15,279,395.10 15,044,678.85
Total 42,042,574.45 29,277,078.91
3) Disclosure under the methods of provision for bad debts by category
In RMB
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Categor
y Accrual Book Accrual Book
Proporti value Proporti value
Amount Amount proporti Amount Amount proporti
on on
on on
Inclu
ding：
Withdra
wal of
bad
42,042, 100.00 15,236, 26,806, 29,277, 100.00 15,263, 14,013,
debt 36.24% 52.13%
574.45 % 025.96 548.49 078.91 % 525.96 552.95
provisio
n by
portfolio
Inclu
ding：
Provisio
n for
bad
debts
based
on
42,042, 100.00 15,236, 26,806, 29,277, 100.00 15,263, 14,013,
credit 36.24% 52.13%
574.45 % 025.96 548.49 078.91 % 525.96 552.95
risk
charact
eristics
by
combin
ation
42,042, 100.00 15,236, 26,806, 29,277, 100.00 15,263, 14,013,
Total 36.24% 52.13%
574.45 % 025.96 548.49 078.91 % 525.96 552.95
Category name of provision for bad debts by portfolio:
In RMB
Ending balance
Name
Book balance Bad debt provision Accrual proportion
Provision for bad debts
based on credit risk
42,042,574.45 15,236,025.96 36.24%
characteristics by
combination
Total 42,042,574.45 15,236,025.96
Description of the basis for determining the combination:
Based on the aging of accounts, credit risk characteristics are recognized, and other receivables are divided into
different groups based on common credit risk characteristics.
137
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Provision for bad debts made according to the general expected credit loss model:
In RMB
Phase I Phase II Phase III
Expected credit loss
Expected credit loss
Bad debt provision Expected credit throughout the Total
throughout the
losses over the next duration (credit
duration (no credit
12 months impairment has
impairment)
occurred)
Balance as of Jan. 1,
53,328.60 8,991.44 15,201,205.92 15,263,525.96
2024
Balance on Jan. 1,
2024 in the current
period
Provision in the
27,500.00 27,500.00
current period
Reversal in the
-55,000.00 -55,000.00
current period
Balance as of June
25,828.60 8,991.44 15,201,205.92 15,236,025.96
30, 2024
The basis for the division of each stage and the ratio of provisions for bad debts
Changes in book balance with significant amount of loss provision in the current period
□ Applicable√ Not applicable
4) Status of bad debt provision, recovery, or reversal for the current period
Provision for bad debts in the current period:
In RMB
Amount of change for the period
Opening Ending
Category Recovery or Write-off or
balance Accrual Other balance
reversal cancellation
Bad debt
15,263,525.96 27,500.00 -55,000.00 15,236,025.96
provision
Total 15,263,525.96 27,500.00 -55,000.00 15,236,025.96
Where the bad debt provision amount recovered or reversed this period is important:
There is no bad debt provision recovered or reversed with amounts significant during the year.
5) Situation of other accounts receivable actually written off in the current period
No actual write-off of other receivables occurred during the Company's reporting period.
6) Other receivables collected from the debtors which rank the first five at the end of period
In RMB
Proportion in the End-of-period
The nature of the total ending balance of
Name Ending balance Aging
amount balance of other provision for bad
receivables debt
138
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Current payment
Total other
receivable
receivables of
between
the top five 40,621,455.85 Over 1-5 years 96.62% 14,799,759.97
companies and
balances on
internal current
June 30, 2024
payment
Total 40,621,455.85 96.62% 14,799,759.97
7) Presented in other receivables due to centralized management of funds
No
3. Long-term equity investments
In RMB
Ending balance Opening balance
Closing Closing
Items balance of balance of
Book balance Book value Book balance Book value
impairment impairment
provision provision
Investments in 1,976,433,419 1,959,850,790 1,976,433,419 1,959,850,790
16,582,629.30 16,582,629.30
subsidiaries .39 .09 .39 .09
Investments in
associates 121,622,822.1 121,622,822.1 127,682,020.7 127,682,020.7
0.00 0.00
and joint 5 5 0 0
ventures
2,098,056,241 2,081,473,612 2,104,115,440 2,087,532,810
Total 16,582,629.30 16,582,629.30
.54 .24 .09 .79
(1) Investment in subsidiaries
In RMB
Increase or decrease in the current period End-of-
Beginning
period
Beginning balance of Profits Ending
Withdrawa balance of
balance provision and balance
Investees investmen l of provision
(book for losses on Other (book
t impairmen for
value) impairmen investmen value)
t provision impairmen
t ts t
Shenzhen
SOPO
1,910,247, 14,415,28 1,910,247, 14,415,28
Photoelect
781.94 8.09 781.94 8.09
ric Co.,
Ltd.
Shenzhen
Lisi 8,073,388. 8,073,388.
0.00 0.00
Industrial 25 25
Co., Ltd.
Shenzhen
Beauty
18,499,45 2,167,341. 18,499,45 2,167,341.
Century
8.34 21 8.34 21
Garment
Co., Ltd.
139
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Shenzhen
Huaqiang 15,489,35 15,489,35
0.00 0.00
Hotel Co., 1.08 1.08
Ltd
Shenzhen
Shenfang
Real
1,713,186. 1,713,186.
Estate 0.00 0.00
55 55
Managem
ent Co.,
Ltd.
Shenzhen
Shenfang
Sungang
Real 5,827,623. 5,827,623.
0.00 0.00
Estate 93 93
Managem
ent Co.,
Ltd.
1,959,850, 16,582,62 1,959,850, 16,582,62
Total
790.09 9.30 790.09 9.30
(2) Investments in associates and joint ventures
In RMB
Increase or decrease in the current period
Equity End-
Begin metho Adjust Cash of-
Begin ning d ment divide Withdr Endin
Profits period
ning balan affirm of nds or awal g
Invest and Other balan
balan ce of ative other profits of balan
ment invest losses equity ce of
ce provisi profit compr declar impair Other ce
unit ment on chang provisi
(book on for and ehens ed to ment (book
invest es on for
value) impair loss ive be provisi value)
ments impair
ment on incom distrib on ment
invest e uted
ments
I. Joint ventures
Shenz
hen
Guan
-
hua 122,3 118,1
4,224,
Printin 70,49 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 45,78 0.00
706.3
g& 4.08 7.78
0
Dyein
g Co.,
Ltd.
-
122,3 118,1
Subtot 4,224,
70,49 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 45,78 0.00
al 706.3
4.08 7.78
0
2. Affiliated company
Shenz 3,358, - 3,136,
124,4
hen 117.0 0.00 0.00 0.00 0.00 0.00 346,1 0.00 0.00 399.2 0.00
32.13
Chan 9 50.00 2
140
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
glianf
a
Printin
g&
dyein
g
Comp
any
Hongk
ong
-
Yehui 1,953, - -
1,349, 340,6
Intern 409.5 0.00 0.00 147,4 115,8 0.00 0.00 0.00 0.00 0.00
489.3 35.15
ationa 3 59.95 25.06
7
l Co.,
Ltd.
-
5,311, - - - 3,477,
Subtot 1,349,
526.6 0.00 0.00 23,02 115,8 0.00 346,1 0.00 0.00 034.3 0.00
al 489.3
2 7.82 25.06 50.00 7
7
- -
127,6 - - 121,6
1,349, 4,247,
Total 82,02 0.00 0.00 115,8 0.00 346,1 0.00 0.00 22,82 0.00
489.3 734.1
0.70 25.06 50.00 2.15
7 2
The recoverable amount is determined by the net amount of the fair value less the disposal expenses
□ Applicable√ Not applicable
The recoverable amount is determined at the present value of the expected future cash flows
□ Applicable√ Not applicable
Reasons for the difference between the aforementioned information and the information used in the impairment test of
previous years or external information
Reasons for the difference between the information used in the Company's impairment test in previous years and the
actual situation in the current year
(3) Other notes
4. Operating income and operating costs
In RMB
Amount for the current period Amount for the previous period
Items
Income Cost Income Cost
Main business 37,598,506.94 4,849,806.55 39,239,619.43 4,156,707.01
Total 37,598,506.94 4,849,806.55 39,239,619.43 4,156,707.01
Breakdown of operating income and operating cost:
In RMB
Total
Classification of contracts
Operating income Operation cost
Business type 37,598,506.94 4,849,806.55
Including：
Lease of property 37,598,506.94 4,849,806.55
Classified by business area
141
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
Including：
Domestic 37,598,506.94 4,849,806.55
Total 37,598,506.94 4,849,806.55
Information related to performance obligations:
No
Information related to the transaction price allocated to the remaining performance obligations:
At the end of the reporting period, the revenue amount corresponding to performance obligations that have been
contracted but not yet fulfilled or not yet fully fulfilled is RMB 0.00, of which RMB 0.00 is expected to be recognized as
revenue in the fiscal year 2024.
Changes in major contracts or adjustments to major transaction prices
No
5. Investment income
In RMB
Items Amount for the current period Amount for the previous period
Income from long-term equity
investment measured by adopting 1,700,000.00
the cost method
Long-term equity investment income
-4,247,734.12 -2,111,260.03
calculated by equity method
Investment income of transactional
financial assets during the holding 5,693,129.12 8,906,611.67
period
Dividend income from other equity
instrument investments during the 958,000.00 906,000.00
holding period
Total 4,103,395.00 7,701,351.64
6. Others
No
20. Additional information
1. Breakdown of current non-recurring profit and loss
√Applicable □Not applicable
In RMB
Items Amount Notes
Government subsidies recognized in
the current profit or loss (excluding
those closely related to the 3,540,504.40 Mainly for the government subsidies.
Company's normal operations,
compliant with national policy,
142
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
entitled according to set standards,
and with a sustained impact on the
Company's profit or loss)
Except for effective hedging business
related to the normal operation of the
Company, the fair value gains and
losses arising from the holding of Mainly for the gains or losses on the
financial assets and financial 1,283,637.11 change in fair value of financial
liabilities by non-financial enterprises, assets held by the company.
as well as the gains and losses
arising from the disposal of financial
assets and financial liabilities
Reversal of the provision for
impairment of accounts receivable
13,878,342.02
undergoing impairment test
individually
Other non-business income and Mainly for quality compensation
-2,148,533.72
expenditures other than the above expenses.
Less: Influenced amount of income
2,487,233.14
tax
Influenced amount of minor
5,430,398.23
shareholders’ equity (after tax)
Total 8,636,318.44 --
Details of other profit and loss items that meet the non-recurring profit and loss definition
□ Applicable√ Not applicable
The Company does not have details of other profit and loss items that meet the non-recurring profit and loss definition.
Non-recurring gain /loss items recognized as recurring gain /loss items as defined in the Explanatory Announcement
No.1 on Information Disclosure for Companies Offering their Securities to the Public - Non-recurring Gains and Losses
□ Applicable√ Not applicable
2. Return on equity and Earnings per share
Earnings per share
Profit of report period Weighted average ROE(%) Basic earning per share Diluted gains per share
(Yuan/Share) (Yuan/Share)
Net profit attributable to the
Common stock 1.52% 0.0867 0.0867
shareholders of Company.
Net profit attributable to the
Common stock
shareholders of Company 1.22% 0.0696 0.0696
after deducting of non-
recurring gain/loss.
3. Differences in accounting data under domestic and overseas accounting standards
(1) Differences in net profit and net assets in the financial reports disclosed in accordance
with international accounting standards and Chinese accounting standards
□ Applicable√ Not applicable
143
2024 Semi-annual Financial Report of Shenzhen Textile (Holdings) Co., Ltd.
(2) Differences in net profit and net assets in the financial reports disclosed in accordance
with overseas accounting standards and Chinese accounting standards
□ Applicable√ Not applicable
(3) Explanation of the reasons for the differences in accounting data under domestic and
overseas accounting standards. If the data has been audited by an overseas audit institution
for difference adjustment, the name of the overseas institution shall be indicated
4. Others
144
