HAINANJINGLIANGHOLDINGSCO.,LTD.SEMI-ANNUALREPORT
2024August,2024
HAINANJINGLIANGHOLDINGSCO.,LTD.
SEMI-ANNUALREPORT2024
PartIImportantNotesThisSummaryisbasedonthefullAnnualReportofHainanJingliangHoldingsCo.,Ltd.(togetherwithitsconsolidatedsubsidiaries,the“Company”,exceptwherethecontextotherwiserequires).InorderforafullunderstandingoftheCompany’soperatingresults,financialpositionandfuturedevelopmentplans,investorsshouldcarefullyreadtheaforesaidfulltext,whichhasbeendisclosedtogetherwiththisSummaryonthemediadesignatedbytheChinaSecuritiesRegulatoryCommission(the“CSRC”).ThisSummaryhasbeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionshallprevail.AlltheCompany’sDirectorshaveattendedtheBoardmeetingforthereviewofthisReportanditssummary.Independentauditor’smodifiedopinion:
□Applicable?NotapplicableBoard-approvedfinalcashand/orstockdividendplanforordinaryshareholdersfortheReportingPeriod
□Applicable?NotapplicableTheCompanyhasnointerimdividendplan,eitherintheformofcashorstock.Board-approvedfinalcashand/orstockdividendplanforpreferredshareholdersfortheReportingPeriod:
□Applicable?NotapplicablePartIIKeyCorporateInformation
1.CompanyProfile
| Stockname | JLKG,JL-B | Stockcode | 000505、200505 |
| Stockexchangeforstocklisting | ShenzhenStockExchange | ||
| Contactinformation | BoardSecretary | SecuritiesRepresentative | |
| Name | GuanYing | GaoDeqiu | |
| Officeaddress | 8/F,TowerB,CapitalAgriculturalScienceandInnovationMansion,BuildingNo.1,CommunityNo.8,XinningStreet,DaxingDistrict,Beijing | 8/F,TowerB,CapitalAgriculturalScienceandInnovationMansion,BuildingNo.1,CommunityNo.8,XinningStreet,DaxingDistrict,Beijing | |
| Tel. | 010-81219989 | 010-81219989 | |
| E-mailaddress | guanying@bjjlkg.cn | gaodeqiu@bjjlkg.cn | |
2.MajorAccountingDataandFinancialIndicatorsIndicatebytickmarkwhetherthereisanyretrospectivelyrestateddatuminthetablebelow.
□Yes?No
| H12024 | H12023 | Change(%) |
| Operatingrevenue(RMB) | 5,555,906,994.14 | 4,823,234,208.18 | 15.19% |
| Netprofitattributabletothelistedcompany’sshareholders(RMB) | 24,058,518.07 | 73,581,795.36 | -67.30% |
| Netprofitattributabletothelistedcompany’sshareholdersbeforeexceptionalgainsandlosses(RMB) | 13,290,211.37 | 58,095,675.61 | -77.12% |
| Netcashgeneratedfrom/usedinoperatingactivities(RMB) | -221,065,422.09 | -137,349,545.79 | -60.95% |
| Basicearningspershare(RMB/share) | 0.03 | 0.10 | -70.00% |
| Dilutedearningspershare(RMB/share) | 0.03 | 0.10 | -70.00% |
| Weightedaveragereturnonequity(%) | 0.76% | 2.37% | -1.61% |
| 30June2024 | 31December2023 | Change(%) | |
| Totalassets(RMB) | 6,577,259,750.18 | 6,496,782,984.90 | 1.24% |
| Equityattributabletothelistedcompany’sshareholders(RMB) | 3,140,090,722.46 | 3,167,503,541.44 | -0.87% |
3.ShareholdersandTheirSharesatthePeriodEnd
Unit:Share
| Numberofordinaryshareholders | 54,654 | Numberofpreferredshareholderswithresumedvotingrights(ifany) | 0 | |||
| Top10shareholders(notincludingthroughrefinancing）) | ||||||
| Nameofshareholder | Natureofshareholder | Shareholdingpercentage | Numberofshares | Restrictedshares | Pledged,markedorfrozenshares | |
| Status | Shares | |||||
| BEIJINGGRAINGROUPCO.,LTD. | State-ownedlegalperson | 39.68% | 288,439,561 | 0 | Notapplicable | 0 |
| BEIJINGSTATE-OWNEDCAPITALOPERATIONANDMANAGEMENTCOMPANYLIMITED | State-ownedlegalperson | 6.67% | 48,510,460 | 0 | Notapplicable | 0 |
| WANGYUECHENG | Domesticnaturalperson | 5.43% | 39,459,887 | 29,594,915 | Notapplicable | 0 |
| MEIJIANYING | Domesticnaturalperson | 0.36% | 2,604,104 | 0 | Notapplicable | 0 |
| WANGZHIQIANG | Domesticnaturalperson | 0.34% | 2,507,123 | 0 | Notapplicable | 0 |
| LISHERYNZHANMING | Foreignnaturalperson | 0.33% | 2,407,700 | 0 | Notapplicable | 0 |
| CHENTIANHUA | Domesticnaturalperson | 0.29% | 2,101,100 | 0 | Notapplicable | 0 |
| TONGZHENZHU | Domesticnaturalperson | 0.27% | 1,970,000 | 0 | Notapplicable | 0 |
| ZHANGXIAOXIA | Domesticnaturalperson | 0.27% | 1,949,250 | 0 | Notapplicable | 0 |
| YINSHENGJIAN | Domesticnaturalperson | 0.23% | 1,670,000 | 0 | Notapplicable | 0 |
| Connectedoracting-in-concertpartiesamongshareholdersabove | ①BeijingState-OwnedCapitalOperationandManagementCompanyLimitedowns100%ofBeijingGrainGroupCo.,Ltd.,andBeijingGrainGroupCo.,Ltd.isthecontrollingshareholderoftheCompany(a39.68%holding).②Duringthereportingperiod,WangYuechengisaDeputyGeneralManageroftheCompany.Apartfromthat,theCompanydoesnotknowwhetherthereareanyotherrelatedpartiesoracting-in-concertpartiesamongthetop10shareholders. | |||||
| Shareholdersconductingmargintrading(ifany) | ShareholderMeiJianyingholds2,604,104sharesintheCompanythroughhisaccountofcollateralsecuritiesformargintradinginHuataiSecuritiesCo.,Ltd;ShareholderChenTianhuaholds2,093,500sharesintheCompanythroughhisaccountofcollateralsecuritiesformargintradinginFounderSecuritiesCo.,Ltd.;ShareholderTongZhenzhuholds1,970,000sharesintheCompanythroughhisaccountofcollateralsecuritiesformargintradinginChinaMerchantsSecuritiesCo.,Ltd. |
Margintradingparticipatedbytheshareholdersofmorethan5%holdingshares,Top10andTop10withunrestrictedshares.
□Applicable?NotapplicableChangesfrommargintradingduetocredit/restitutionfortheshareholdersofTop10andTop10withunrestrictedsharescomparedwithlast-termreportingperiod
□Applicable?Notapplicable
4.ChangeofControllingShareholderorActualControllerinReportingPeriodChangeofthecontrollingshareholderintheReportingPeriod:
□Applicable?NotapplicableThecontrollingshareholderremainedthesameintheReportingPeriod.ChangeoftheactualcontrollerintheReportingPeriod:
□Applicable?NotapplicableTheactualcontrollerremainedthesameintheReportingPeriod.
5.NumbersofPreferredShareholdersandShareholdingsofTop10ofThem
□Applicable?NotapplicableNopreferredshareholdersintheReportingPeriod.
6.OutstandingBondsattheDatewhenthisReportWasAuthorizedforIssue?Applicable□Notapplicable
（1）BasicinformationofBond
| NameofBond | AbbreviationofBonds | Bondcode | IssueDate | MaturityDate | BondBalance（intenthousandsYuan） | Interest |
| HainanJingliangHoldingsCo.,Ltd2023publicissuanceofcorporatebondsforqualifiedinvestors（1stissue） | 23Jingliang01 | 148434 | 21-22Aug2023 | 22Aug2026 | 30,000 | 2.88% |
（2）Financialindicatorsattheendingofthereportingperiod
| Item | 30June2024 | 31December2023 |
| Asset-liabilityratio | 46.03% | 44.97% |
| Item | H12024 | H12023 |
| Interestcoverratio | 4.62 | 7.94 |
PartIIISignificantEventsTheyear-on-yeardeclineinthecompany'sperformanceduringthereportingperiodwasmainlyduetothe
followingtwofactors:
1.OilandGreaseBusiness:Theinternationalsoybeansupplyinthereportingperiodwasinaloosestate,thedomesticsoybeanoilandsoybeanmealmarkethadaglutandthepriceofmainproductsfromsoybeanoilandsoybeanmealwasayear-on-yeardecline,resultinginayear-on-yeardecreaseinprofitofoilandgreasebusiness.
2.FoodBusiness:Affectedbythedownturnintraditionalchannelsandtheimpactofcompetingproducts,thedeclineinsalesofleisurefoodbroughtaboutadecreaseinrevenue,andthecostincreaseinthepriceofthemainrawmaterialpotatoflourbroughtaboutayear-on-yeardecreaseinthegrossmarginofleisurefood,resultinginayear-on-yeardecreaseinprofitofleisurefood.PartIVFinancialReportIndependentauditor’smodifiedopinion:
□Applicable?Notapplicable2024Semi-AnnualFinancialReportisnotauditedbyIndependentauditor.Theunitoffinancialstatementsinthefinancialnotesis:Yuan
| 1.ConsolidatedBalanceSheet | ||
| June30,2024 | ||
| Preparedby:HainanJingliangHoldingsCo.,Ltd. | MonetaryUnit:RMBYuan | |
| Items | 30June2024 | 31December2023 |
| CurrentAssets: | ||
| Monetarycapital | 1,181,398,242.40 | 1,543,385,751.86 |
| Transactionalfinancialassets | ||
| Derivativefinancialassets | 31,223,815.72 | 31,684,620.00 |
| Notesreceivable | ||
| Accountsreceivable | 109,483,882.36 | 115,780,372.55 |
| Receivablesfinancing | 2,442,328.82 | 2,502,308.90 |
| Prepayment | 267,344,829.04 | 87,352,234.48 |
| Otherreceivables | 386,904,030.80 | 303,099,589.59 |
| Including:Interestreceivable | ||
| Dividendsreceivable | ||
| Inventory | 2,186,861,592.97 | 2,041,860,143.11 |
| Including:Dataresources | ||
| Contractassets | ||
| Held-for-saleassets | ||
| Non-currentassetsduewithinoneyear | 22,188,083.34 | |
| Othercurrentassets | 420,569,321.21 | 312,336,642.43 |
| Totalcurrentassets | 4,586,228,043.32 | 4,460,189,746.26 |
| Non-currentassets: | ||
| Debtinvestment | ||
| Otherdebtinvestments | ||
| Long-termreceivables | ||
| Long-termequityinvestment | 265,798,072.29 | 254,922,645.41 |
| Otherequityinstrumentsinvestment | 20,000,000.00 | 20,000,000.00 |
| Othernon-currentfinancialassets | ||
| Investmentproperty | 19,051,808.01 | 20,045,503.77 |
| Fixedassets | 917,556,139.25 | 939,548,012.91 |
| Constructioninprocess | 47,201,479.97 | 59,094,902.29 |
| Productivebiologicalassets | ||
| Oil-and-gasassets | ||
| Right-of-useassets | 89,304,522.73 | 99,232,303.78 |
| Intangibleassets | 404,165,474.64 | 412,676,845.93 |
| Including:Dataresources | ||
| Developmentexpenditure | ||
| Including:Dataresources | ||
| Goodwill | 191,394,422.51 | 191,394,422.51 |
| Long-termdeferredexpenses | 17,397,533.45 | 17,655,736.82 |
| Deferredincometaxassets | 5,452,387.35 | 8,798,915.22 |
| Othernon-currentassets | 13,709,866.66 | 13,223,950.00 |
| Totalnon-currentassets | 1,991,031,706.86 | 2,036,593,238.64 |
| Totalassets | 6,577,259,750.18 | 6,496,782,984.90 |
| Currentliabilities: | ||
| Short-termborrowings | 1,036,717,261.11 | 1,163,479,691.67 |
| Transactionalfinancialliabilities | ||
| Derivativefinancialliabilities | 15,805,393.88 | |
| Notespayable | ||
| Accountspayable | 70,607,024.80 | 82,474,823.84 |
| Accountcollectedinadvance | 1,800,138.12 | 1,075,801.34 |
| Contractliabilities | 619,028,078.42 | 411,033,219.08 |
| Employeepayrollpayable | 16,367,355.08 | 32,702,558.07 |
| Taxespayable | 11,264,377.79 | 11,577,392.47 |
| Otherpayables | 71,848,286.50 | 79,618,198.78 |
| Including:Interestpayable | 20,000,000.00 | 21,082,795.47 |
| Dividendspayable | 3,213,342.90 | 3,213,302.88 |
| Held-for-saleliabilities | ||
| Non-currentliabilitiesduewithinoneyear | 119,091,031.53 | 175,940,949.28 |
| Othercurrentliabilities | 58,741,540.34 | 60,439,400.68 |
| Totalcurrentliabilities | 2,005,465,093.69 | 2,034,147,429.09 |
| Non-currentliabilities: | ||
| Long-termborrowings | 530,000,000.00 | 400,000,000.00 |
| Bondspayable | 299,025,000.00 | 298,800,000.00 |
| Including:Preferredstock | ||
| Perpetualcapitalbonds | ||
| Leaseliabilities | 75,013,784.37 | 73,241,742.57 |
| Long-termpayables | ||
| Long-termpayabletoemployees | 5,677,134.00 | 5,677,134.00 |
| Estimatedliabilities | ||
| Deferredincome | 58,483,273.07 | 62,503,256.67 |
| Deferredincometaxliabilities | 53,548,664.14 | 47,082,123.53 |
| Othernon-currentliabilities |
| Totalnon-currentliabilities | 1,021,747,855.58 | 887,304,256.77 | |
| Totalliabilities | 3,027,212,949.27 | 2,921,451,685.86 | |
| Owners'equity(orShareholders'equity): | |||
| Paid-incapital | 726,950,251.00 | 726,950,251.00 | |
| Otherequityinstruments | |||
| Including:Preferredstock | |||
| Perpetualcapitalbonds | |||
| Capitalreserves | 1,681,808,108.07 | 1,681,808,108.07 | |
| Less:treasurystock | |||
| Othercomprehensiveincome | 1,512,111.69 | 1,369,980.92 | |
| Specialreserves | |||
| Surplusreserves | 129,819,690.00 | 129,819,690.00 | |
| Undistributedprofit | 600,000,561.70 | 627,555,511.45 | |
| Owner'sEquity(orshareholder'sequity)AttributabletoShareholdersoftheParentCompany | 3,140,090,722.46 | 3,167,503,541.44 | |
| Minorityequity | 409,956,078.45 | 407,827,757.60 | |
| Totalowners'equity(orshareholders'equity) | 3,550,046,800.91 | 3,575,331,299.04 | |
| Totalliabilitiesandowners'equity(orshareholders'equity) | 6,577,259,750.18 | 6,496,782,984.90 | |
| LegalRepresentative:ChunliWangChiefFinancialOfficer:YingGuanHeadofAccountingDepartment:LingCao | |||
| 2.BalanceSheetofParentCompany | |||
| MonetaryUnit:RMBYuan | |||
| Items | 30June2024 | 31December2023 | |
| CurrentAssets: | |||
| Monetarycapital | 338,721,543.73 | 23,743,255.81 | |
| Transactionalfinancialassets | |||
| Derivativefinancialassets | |||
| Notesreceivable | |||
| Accountsreceivable | |||
| Receivablesfinancing | |||
| Prepayment | |||
| Otherreceivables | 910,000,000.00 | 950,000,000.00 | |
| Including:Interestreceivable | |||
| Dividendsreceivable | |||
| Inventory | |||
| Including:Dataresources | |||
| Contractassets | |||
| Held-for-saleassets | |||
| Non-currentassetsduewithinoneyear | |||
| Othercurrentassets | 404,285.14 | 976,539.93 |
| Totalcurrentassets | 1,249,125,828.87 | 974,719,795.74 |
| Non-currentassets: | ||
| Debtinvestment | ||
| Otherdebtinvestments | ||
| Long-termreceivables | ||
| Long-termequityinvestment | 2,340,799,283.19 | 2,625,657,283.19 |
| Otherequityinstrumentsinvestment | 20,000,000.00 | 20,000,000.00 |
| Othernon-currentfinancialassets | ||
| Investmentproperty | 5,027,932.91 | 5,198,514.17 |
| Fixedassets | 5,892,257.07 | 5,955,832.27 |
| Constructioninprocess | ||
| Productivebiologicalassets | ||
| Oil-and-gasassets | ||
| Right-of-useassets | ||
| Intangibleassets | ||
| Including:Dataresources | ||
| Developmentexpenditure | ||
| Including:Dataresources | ||
| Goodwill | ||
| Long-termdeferredexpenses | 444,366.61 | 495,639.67 |
| Deferredincometaxassets | ||
| Othernon-currentassets | 3,168,200.00 | 2,833,950.00 |
| Totalnon-currentassets | 2,375,332,039.78 | 2,660,141,219.30 |
| Totalassets | 3,624,457,868.65 | 3,634,861,015.04 |
| Currentliabilities: | ||
| Short-termborrowings | ||
| Transactionalfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | 15,383.17 | 15,383.17 |
| Accountcollectedinadvance | 38,896.41 | 38,896.41 |
| Contractliabilities | ||
| Employeepayrollpayable | 170,825.08 | 157,166.68 |
| Taxespayable | 1,046,047.51 | 1,016,682.06 |
| Otherpayables | 31,176,883.86 | 32,458,140.29 |
| Including:Interestpayable | 20,000,000.00 | 21,082,795.47 | ||
| Dividendspayable | 3,213,342.90 | 3,213,302.88 | ||
| Held-for-saleliabilities | ||||
| Non-currentliabilitiesduewithinoneyear | 7,200,000.00 | 2,880,000.00 | ||
| Othercurrentliabilities | ||||
| Totalcurrentliabilities | 39,648,036.03 | 36,566,268.61 | ||
| Non-currentliabilities: | ||||
| Long-termborrowings | ||||
| Bondspayable | 299,025,000.00 | 298,800,000.00 | ||
| Including:Preferredstock | ||||
| Perpetualcapitalbonds | ||||
| Leaseliabilities | ||||
| Long-termpayables | ||||
| Long-termpayabletoemployees | ||||
| Estimatedliabilities | ||||
| Deferredincome | ||||
| Deferredincometaxliabilities | ||||
| Othernon-currentliabilities | ||||
| Totalnon-currentliabilities | 299,025,000.00 | 298,800,000.00 | ||
| Totalliabilities | 338,673,036.03 | 335,366,268.61 | ||
| Owners'equity(orShareholders'equity): | ||||
| Paid-incapital | 726,950,251.00 | 726,950,251.00 | ||
| Otherequityinstruments | ||||
| Including:Preferredstock | ||||
| Perpetualcapitalbonds | ||||
| Capitalreserves | 2,386,084,900.84 | 2,386,084,900.84 | ||
| Less:treasurystock | ||||
| Othercomprehensiveincome | ||||
| Specialreserves | ||||
| Surplusreserves | 117,184,317.41 | 117,184,317.41 | ||
| Undistributedprofit | 55,565,363.37 | 69,275,277.18 | ||
| Totalowners'equity(orshareholders'equity) | 3,285,784,832.62 | 3,299,494,746.43 | ||
| Totalliabilitiesandowners'equity(orshareholders'equity) | 3,624,457,868.65 | 3,634,861,015.04 | ||
| 3.ConsolidatedIncomeStatement | ||||
| MonetaryUnit:RMBYuan | ||||
| Items | Amountforthecurrentperiod | Amountforthepriorperiod | ||
| I.Totaloperatingincome | 5,555,906,994.14 | 4,823,234,208.18 | ||
| Including:Operatingincome | 5,555,906,994.14 | 4,823,234,208.18 | ||
| II.Totaloperatingcost | 5,531,711,172.68 | 4,841,383,397.31 |
| Including:Operatingcost | 5,332,015,618.17 | 4,630,970,469.14 |
| Taxandsurcharges | 12,216,026.66 | 11,548,673.88 |
| Sellingexpenses | 71,736,656.94 | 78,437,823.61 |
| Administrationexpenses | 85,740,915.84 | 92,898,582.21 |
| Researchanddevelopmentexpenses | 10,402,383.93 | 10,262,799.97 |
| Financialexpenses | 19,599,571.14 | 17,265,048.50 |
| Including:Interestexpenses | 28,948,644.46 | 25,265,021.07 |
| Interestincome | 8,925,122.62 | 5,832,452.30 |
| Add:Otherincome | 9,870,484.92 | 6,324,214.58 |
| Incomefrominvestment(Lossesshallbefilledinwith“-”) | 10,875,426.88 | 7,179,282.99 |
| Including:incomefrominvestmentonjointventureandcooperativeenterprise | 10,875,426.88 | 7,012,296.86 |
| incomefromderecognitionoffinancialassetsmeasuredatamortizedcost | ||
| Incomefromnetexposurehedging(Lossesshallbefilledinwith“-”) | ||
| Incomefromchangesinfairvalue(Lossesshallbefilledinwith“-”) | -9,906,096.90 | 143,869,459.30 |
| Creditimpairmentloss(Lossesshallbefilledinwith“-”) | 1,779.74 | -115,984.57 |
| Incomefromassetsimpairment(Lossesshallbefilledinwith“-”) | 130,887.98 | -25,186,589.63 |
| Incomefromassetdisposal(Lossesshallbefilledinwith“-”) | 23,411.62 | -2,209.46 |
| III.Operatingprofit(Lossesshallbefilledinwith“-”) | 35,191,715.70 | 113,918,984.08 |
| Add:non-operatingincome | 10,604,405.63 | 3,903,501.36 |
| Less:non-operatingexpenditure | 4,779,998.99 | 527,980.44 |
| IV.Totalprofit(Totallossesshallbefilledinwith“-”) | 41,016,122.34 | 117,294,505.00 |
| Less:incometaxexpense | 14,829,283.42 | 32,518,022.92 |
| V.Netprofit(Netlossshallbefilledinwith“-”) | 26,186,838.92 | 84,776,482.08 |
| (I)Classifiedbyoperationscontinuity | ||
| 1.Netprofitfromcontinuingoperations(Netlossshallbefilledinwith“-”) | 26,186,838.92 | 84,776,482.08 |
| 2.Netprofitfromdiscontinuingoperations(Netlossshallbefilledinwith“-”) | ||
| (II)Classifiedbyownershipattribution | ||
| 1.Netprofitattributabletoshareholdersoftheparentcompany(Netlossshallbefilledinwith“-”) | 24,058,518.07 | 73,581,795.36 |
| 2.Minorityinterestincome(Netlossshallbefilledinwith“-”) | 2,128,320.85 | 11,194,686.72 |
| VI.Netoftaxfromothercomprehensiveincome | 142,130.77 | 730,651.63 |
| （一）Netoftaxfromothercomprehensiveincomeattributabletoshareholdersoftheparentcompany | 142,130.77 | 730,651.63 |
| 1.Othercomprehensiveincomethatcannotbereclassifiedintotheprofitandloss | ||
| （1）Remeasurechangesindefinedbenefitplans | ||
| （2）Othercomprehensiveincomethatcannotbetransferredtogainsandlossesundertheequitymethod |
| （3）Changesinfairvalueofotherequityinstrumentinvestments | ||||
| （4）Changesinthefairvalueofthecompany'sowncreditrisk | ||||
| （5）Others | ||||
| 2.Othercomprehensiveincomethatwillbereclassifiedintotheprofitandloss | 142,130.77 | 730,651.63 | ||
| （1）Othercomprehensiveincomethatcanbetransferredtogainsandlossesundertheequitymethod | ||||
| （2）Changesinfairvalueofotherdebtinvestments | ||||
| （3）Reclassificationoffinancialassetsincludedinothercomprehensiveincome | ||||
| （4）Provisionforcreditimpairmentofotherdebtinvestments | ||||
| （5）Cashflowhedgereserve | ||||
| （6）Balancearisingfromthetranslationofforeigncurrency | 142,130.77 | 730,651.63 | ||
| （7）Others | ||||
| （二）Netoftaxfromothercomprehensiveincomeattributabletominorityshareholder | ||||
| VII.Totalcomprehensiveincome | 26,328,969.69 | 85,507,133.71 | ||
| (I)Totalcomprehensiveincomeattributabletoshareholdersoftheparentcompany | 24,200,648.84 | 74,312,446.99 | ||
| (II)Totalcomprehensiveincomeattributabletominorityshareholder | 2,128,320.85 | 11,194,686.72 | ||
| VIII.Earningspershare: | ||||
| (I)Basicearningspershare | 0.03 | 0.10 | ||
| (II)Dilutedearningspershare | 0.03 | 0.10 | ||
| LegalRepresentative:ChunliWangChiefFinancialOfficer:YingGuanHeadofAccountingDepartment:LingCao | ||||
| 4.IncomeStatementofParentCompany | ||||
| MonetaryUnit:RMBYuan | ||||
| Items | Amountforthecurrentperiod | Amountforthepriorperiod | ||
| I.Totaloperatingincome | 2,047,313.31 | 11,839,311.03 | ||
| Less：Operatingcost | 170,581.26 | 170,581.26 | ||
| Taxandsurcharges | 204,491.36 | 174,413.63 | ||
| Sellingexpenses | ||||
| Administrationexpenses | 3,150,269.36 | 3,410,680.07 | ||
| Researchanddevelopmentexpenses | ||||
| Financialexpenses | -9,722,064.50 | -5,278,290.51 | ||
| Including:Interestexpenses | 4,545,000.00 | |||
| Interestincome | 14,379,702.55 | 5,280,177.21 | ||
| Add:Otherincome | 619,000.43 | 2,308.28 | ||
| Incomefrominvestment(Lossesshallbefilledinwith“-”) | 28,021,459.50 | 150,814.85 | ||
| Including:incomefrominvestmentonjointventureandcooperativeenterprise | ||||
| Incomefromderecognitionoffinancialassetsmeasured | ||||
| atamortizedcost | ||
| Incomefromnetexposurehedging(Lossesshallbefilledinwith“-”) | ||
| Incomefromchangesinfairvalue(Lossesshallbefilledinwith“-”) | ||
| Creditimpairmentloss(Lossesshallbefilledinwith“-”) | ||
| Incomefromassetsimpairment(Lossesshallbefilledinwith“-”) | ||
| Incomefromassetdisposal(Lossesshallbefilledinwith“-”) | ||
| III.Operatingprofit(Lossesshallbefilledinwith“-”) | 36,884,495.76 | 13,515,049.71 |
| Add:non-operatingincome | 1,082,795.47 | |
| Less:non-operatingexpenditure | 63,737.22 | 5,027.46 |
| IV.Totalprofit(Totallossesshallbefilledinwith“-”) | 37,903,554.01 | 13,510,022.25 |
| Less:incometaxexpense | ||
| V.Netprofit(Netlossshallbefilledinwith“-”) | 37,903,554.01 | 13,510,022.25 |
| 1.Netprofitfromcontinuingoperations(Netlossshallbefilledinwith“-”) | 37,903,554.01 | 13,510,022.25 |
| 2.Netprofitfromdiscontinuingoperations(Netlossshallbefilledinwith“-”) | ||
| V.Netoftaxfromothercomprehensiveincome | ||
| 1.Othercomprehensiveincomethatcannotbereclassifiedintotheprofitandloss | ||
| （1）Remeasurechangesindefinedbenefitplans | ||
| （2）Othercomprehensiveincomethatcannotbetransferredtogainsandlossesundertheequitymethod | ||
| （3）Changesinfairvalueofotherequityinstrumentinvestments | ||
| （4）Changesinthefairvalueofthecompany'sowncreditrisk | ||
| （5）Others | ||
| 2.Othercomprehensiveincomethatwillbereclassifiedintotheprofitandloss | ||
| （1）Othercomprehensiveincomethatcanbetransferredtogainsandlossesundertheequitymethod | ||
| （2）Changesinfairvalueofotherdebtinvestments | ||
| （3）Reclassificationoffinancialassetsincludedinothercomprehensiveincome | ||
| （4）Provisionforcreditimpairmentofotherdebtinvestments | ||
| （5）Cashflowhedgereserve | ||
| （6）Balancearisingfromthetranslationofforeigncurrency | ||
| （7）Others | ||
| VII.Totalcomprehensiveincome | 37,903,554.01 | 13,510,022.25 |
| VIII.Earningspershare: | ||
| (I)Basicearningspershare | ||
| (II)Dilutedearningspershare |
| 5.ConsolidatedCashFlowStatement | ||
| MonetaryUnit:RMBYuan | ||
| Items | Amountforthecurrentperiod | Amountforthepriorperiod |
| I.CashFlowsfromOperatingActivities: | ||
| CashReceiptsfromSalesofGoodsorRenderingofServices | 6,226,529,356.93 | 5,564,355,172.38 |
| TaxRefundReceipts | 3,062,799.77 | 3,808,897.99 |
| OtherCashReceiptsConcerningOperatingActivities | 1,514,916,662.94 | 1,023,812,040.53 |
| SubtotalofCashInflowsfromOperatingActivities | 7,744,508,819.64 | 6,591,976,110.90 |
| CashPaidforPurchaseofGoodsandAcceptingServices | 6,051,673,881.18 | 5,631,656,925.26 |
| CashPaidtoandforEmployees | 164,888,216.07 | 172,318,440.15 |
| TaxesandFeesPaid | 58,944,562.42 | 125,238,280.62 |
| OtherCashPaidConcerningOperatingActivities | 1,690,067,582.06 | 800,112,010.66 |
| SubtotalofCashOutflowsfromOperatingActivities | 7,965,574,241.73 | 6,729,325,656.69 |
| NetCashFlowsfromOperatingActivities | -221,065,422.09 | -137,349,545.79 |
| II.CashFlowsfromInvestmentActivities: | ||
| CashReceiptsfromDisinvestment | 586,103,235.55 | |
| CashReceiptsfromReturnsonInvestments | ||
| NetCashfromDisposalofFixedAssets,IntangibleAssetsandOtherLong-termAssets | 90,476.60 | 31,605.00 |
| NetCashReceivedbyDisposalofSubsidiariesandOtherBusinessUnits | ||
| OtherCashReceiptsConcerningInvestmentActivities | ||
| SubtotalofCashInflowsfromInvestmentActivities | 90,476.60 | 586,134,840.55 |
| CashPaidforPurchaseandConstructionofFixedAssets,IntangibleAssetsandOtherLong-termAssets | 19,760,482.96 | 43,140,379.93 |
| CashPaidforInvestments | 145,000,000.00 | |
| NetCashPaidforobtainingSubsidiariesandOtherBusinessUnits | ||
| OtherCashPaidConcerningInvestmentActivities | 1,747,611.95 | |
| SubtotalofCashOutflowsfromInvestmentActivities | 21,508,094.91 | 188,140,379.93 |
| NetCashFlowsfromInvestmentActivities | -21,417,618.31 | 397,994,460.62 |
| III.CashFlowsfromFinancingActivities: | ||
| CashReceiptsfromAcceptingInvestment | ||
| Including:CashReceivedbySubsidiariesAbsorbingtheInvestmentfromMinorityShareholders | ||
| CashReceiptsfromBorrowings | 1,037,734,559.68 | 1,818,217,067.44 |
| OtherCashReceiptsConcerningFinancingActivities | ||
| SubtotalofCashInflowsfromFinancingActivities | 1,037,734,559.68 | 1,818,217,067.44 |
| CashPaidforRepaymentofDebts | 1,087,734,559.68 | 1,331,768,577.44 |
| CashPaidforDistributionofDividends,ProfitsorRepaymentofInterests | 70,758,033.33 | 47,016,149.43 |
| Including:DividendsandProfitsPaidbySubsidiariestoMinorityShareholders | ||
| OtherCashPaidConcerningFinancingActivities | 13,486,733.94 | 574,077.78 |
| SubtotalofCashOutflowsfromFinancingActivities | 1,171,979,326.95 | 1,379,358,804.65 |
| NetCashFlowsfromFinancingActivities | -134,244,767.27 | 438,858,262.79 |
| IV.ExchangeRateFluctuationConsequencesonCashandCashEquivalents | 6,088,920.99 | 724,617.12 |
| V.NetIncreaseinCashandCashEquivalents | -370,638,886.68 | 700,227,794.74 |
| Add:OpeningBalanceofCashandCashEquivalents | 1,540,639,079.95 | 551,439,110.07 |
| VI.ClosingBalanceofCashandCashEquivalents | 1,170,000,193.27 | 1,251,666,904.81 |
| 6.CashFlowStatementofParentCompany | ||
| MonetaryUnit:RMBYuan | ||
| Items | Amountforthecurrentperiod | Amountforthepriorperiod |
| I.CashFlowsfromOperatingActivities: | ||
| CashReceiptsfromSalesofGoodsorRenderingofServices | 1,745,187.40 | 12,124,704.99 |
| TaxRefundReceipts | ||
| OtherCashReceiptsConcerningOperatingActivities | 1,683,080.27 | 5,610,597.06 |
| SubtotalofCashInflowsfromOperatingActivities | 3,428,267.67 | 17,735,302.05 |
| CashPaidforPurchaseofGoodsandAcceptingServices | 635.30 | |
| CashPaidtoandforEmployees | 972,050.75 | 1,499,566.85 |
| TaxesandFeesPaid | 448,876.77 | 324,239.47 |
| OtherCashPaidConcerningOperatingActivities | 2,218,764.01 | 164,251,396.82 |
| SubtotalofCashOutflowsfromOperatingActivities | 3,640,326.83 | 166,075,203.14 |
| NetCashFlowsfromOperatingActivities | -212,059.16 | -148,339,901.09 |
| II.CashFlowsfromInvestmentActivities: | ||
| CashReceiptsfromDisinvestment | 324,858,000.00 | |
| CashReceiptsfromReturnsonInvestments | 42,606,181.72 | 150,150,814.85 |
| NetCashfromDisposalofFixedAssets,IntangibleAssetsandOtherLong-termAssets | 3,444.00 | 800.00 |
| NetCashReceivedbyDisposalofSubsidiariesandOtherBusinessUnits | ||
| OtherCashReceiptsConcerningInvestmentActivities | ||
| SubtotalofCashInflowsfromInvestmentActivities | 367,467,625.72 | 150,151,614.85 |
| CashPaidforPurchaseandConstructionofFixedAssets,IntangibleAssetsandOtherLong-termAssets | 663,805.84 | 459,058.44 |
| CashPaidforInvestments | ||
| NetCashPaidforobtainingSubsidiariesandOtherBusinessUnits | ||
| OtherCashPaidConcerningInvestmentActivities | |||||||||||||||
| SubtotalofCashOutflowsfromInvestmentActivities | 663,805.84 | 459,058.44 | |||||||||||||
| NetCashFlowsfromInvestmentActivities | 366,803,819.88 | 149,692,556.41 | |||||||||||||
| III.CashFlowsfromFinancingActivities: | |||||||||||||||
| CashReceiptsfromAcceptingInvestment | |||||||||||||||
| CashReceiptsfromBorrowings | |||||||||||||||
| OtherCashReceiptsConcerningFinancingActivities | |||||||||||||||
| SubtotalofCashInflowsfromFinancingActivities | |||||||||||||||
| CashPaidforRepaymentofDebts | |||||||||||||||
| CashPaidforDistributionofDividends,ProfitsorRepaymentofInterests | 51,613,472.80 | ||||||||||||||
| OtherCashPaidConcerningFinancingActivities | |||||||||||||||
| SubtotalofCashOutflowsfromFinancingActivities | 51,613,472.80 | ||||||||||||||
| NetCashFlowsfromFinancingActivities | -51,613,472.80 | ||||||||||||||
| IV.ExchangeRateFluctuationConsequencesonCashandCashEquivalents | |||||||||||||||
| V.NetIncreaseinCashandCashEquivalents | 314,978,287.92 | 1,352,655.32 | |||||||||||||
| Add:OpeningBalanceofCashandCashEquivalents | 23,743,255.81 | 15,852,894.21 | |||||||||||||
| VI.ClosingBalanceofCashandCashEquivalents | 338,721,543.73 | 17,205,549.53 | |||||||||||||
| 7.ConsolidatedStatementofChangesinEquity | |||||||||||||||
| MonetaryUnit:RMBYuan | |||||||||||||||
| Items | CurrentAmount | ||||||||||||||
| Shareholder'sEquityattributabletotheParentCompany | Minorityequity | Totalshareholders'equities | |||||||||||||
| Paid-incapital | Otherequityinstruments | Capitalreserve | Less:treasurystock | Othercomprehensiveincome | Specialreserve | Surplusreserve | Undistributedprofit | Subtotal | |||||||
| Preferredstock | Perpetualbond | Others | |||||||||||||
| I.Year-endbalanceoflastyear | 726,950,251.00 | 1,681,808,108.07 | 1,369,980.92 | 129,819,690.00 | 627,555,511.45 | 3,167,503,541.44 | 407,827,757.60 | 3,575,331,299.04 | |||||||
| Add:changesinaccountingpolicies | |||||||||||||||
| Correctionofpriorperioderrors | |||||||||||||||
| Mergerofenterprisesunderthesamecontrol | |||||||||||||||
| Other | |||||||||||||||
| II.Balanceatbeginningofcurrentyear | 726,950,251.00 | 1,681,808,108.07 | 1,369,980.92 | 129,819,690.00 | 627,555,511.45 | 3,167,503,541.44 | 407,827,757.60 | 3,575,331,299.04 | |||||||
| III.Increasesanddecreasesofcurrentperiod(Decreaseshallbefilledinwith“-”) | 142,130.77 | -27,554,949.75 | -27,412,818.98 | 2,128,320.85 | -25,284,498.13 | ||
| (I)Totalcomprehensiveincome | 142,130.77 | 24,058,518.07 | 24,200,648.84 | 2,128,320.85 | 26,328,969.69 | ||
| (II)Investmentofshareholdersandcapitalreduction | |||||||
| 1.Commonequityinvestedbyshareholders | |||||||
| 2.Capitalinvestedbyotherequityinstrumentsholders | |||||||
| 3.Theamountofsharesrecordedintotheshareholder'sequity | |||||||
| 4.Others | |||||||
| (III)Distributionofprofits | -51,613,467.82 | -51,613,467.82 | -51,613,467.82 | ||||
| 1.Withdrawalofsurplusreserves | |||||||
| 2.Distributiontoshareholders | -51,613,467.82 | -51,613,467.82 | -51,613,467.82 | ||||
| 3.Others | |||||||
| (IV)Innercarrying-overofshareholders'equities | |||||||
| 1.Capitalreserveconvertedintocapital(orcapitalstock) | |||||||
| 2.Surpluspublicaccumulationconvertedintocapital(orcapitalstock) | |||||||
| 3.Surpluspublicaccumulationlossremedy | |||||||
| 4.Changeindefinedbenefitplancarriedforwardtoretainedearnings | |||||||
| 5.Othercomprehensiveincome |
| carriedforwardtoretainedearnings | |||||||||||
| 6.Others | |||||||||||
| (V)Specialreserve | |||||||||||
| 1.Withdrawalforcurrentperiod | |||||||||||
| 2.Useforcurrentperiod | |||||||||||
| (VI)Others | |||||||||||
| IV.Closingbalanceofcurrentperiod | 726,950,251.00 | 1,681,808,108.07 | 1,512,111.69 | 129,819,690.00 | 600,000,561.70 | 3,140,090,722.46 | 409,956,078.45 | 3,550,046,800.91 |
AmountofLastPeriod
| Items | AmountofLastPeriod | ||||||||||||
| Shareholder'sEquityattributabletotheParentCompany | Minorityequity | Totalshareholders'equities | |||||||||||
| Paid-incapital | Otherequityinstruments | Capitalreserve | Less:treasurystock | Othercomprehensiveincome | Specialreserve | Surplusreserve | Undistributedprofit | Subtotal | |||||
| Preferredstock | Perpetualbond | Others | |||||||||||
| I.Year-endbalanceoflastyear | 726,950,251.00 | 1,678,678,350.95 | 1,005,720.50 | 122,122,436.98 | 532,904,675.62 | 3,061,661,435.05 | 401,048,412.23 | 3,462,709,847.28 | |||||
| Add:changesinaccountingpolicies | |||||||||||||
| Correctionofpriorperioderrors | |||||||||||||
| Mergerofenterprisesunderthesamecontrol | |||||||||||||
| Other | |||||||||||||
| II.Balanceatbeginningofcurrentyear | 726,950,251.00 | 1,678,678,350.95 | 1,005,720.50 | 122,122,436.98 | 532,904,675.62 | 3,061,661,435.05 | 401,048,412.23 | 3,462,709,847.28 | |||||
| III.Increasesanddecreasesofcurrentperiod(Decreaseshallbefilledinwith“-”) | 730,651.63 | 73,581,795.36 | 74,312,446.99 | 11,194,686.72 | 85,507,133.71 | ||||||||
| (I)Totalcomprehensiveincome | 730,651.63 | 73,581,795.36 | 74,312,446.99 | 11,194,686.72 | 85,507,133.71 | ||||||||
| (II)Investmentofshareholdersandcapitalreduction | |||||||||||||
| 1.Commonequityinvestedbyshareholders | |||||||||||||
| 2.Capitalinvestedbyotherequity | |||||||||||||
| instrumentsholders | |||||||||||
| 3.Theamountofsharesrecordedintotheshareholder'sequity | |||||||||||
| 4.Others | |||||||||||
| (III)Distributionofprofits | |||||||||||
| 1.Withdrawalofsurplusreserves | |||||||||||
| 2.Distributiontoshareholders | |||||||||||
| 3.Others | |||||||||||
| (IV)Innercarrying-overofshareholders'equities | |||||||||||
| 1.Capitalreserveconvertedintocapital(orcapitalstock) | |||||||||||
| 2.Surpluspublicaccumulationconvertedintocapital(orcapitalstock) | |||||||||||
| 3.Surpluspublicaccumulationlossremedy | |||||||||||
| 4.Changeindefinedbenefitplancarriedforwardtoretainedearnings | |||||||||||
| 5.Othercomprehensiveincomecarriedforwardtoretainedearnings | |||||||||||
| 6.Others | |||||||||||
| (V)Specialreserve | |||||||||||
| 1.Withdrawalforcurrentperiod | |||||||||||
| 2.Useforcurrentperiod | |||||||||||
| (VI)Others | |||||||||||
| IV.Closingbalanceofcurrentperiod | 726,950,251.00 | 1,678,678,350.95 | 1,736,372.13 | 122,122,436.98 | 606,486,470.98 | 3,135,973,882.04 | 412,243,098.95 | 3,548,216,980.99 |
| 8.StatementofChangesinEquityofParentCompany | ||||||||||||
| MonetaryUnit:RMBYuan | ||||||||||||
| Items | CurrentAmount | |||||||||||
| Paid-incapital | Otherequityinstruments | Capitalreserve | Less:treasurystock | Othercomprehensiveincome | Specialreserve | Surplusreserve | Undistributedprofit | Subtotal | ||||
| Preferredstock | Perpetualbond | Others | ||||||||||
| I.Year-endbalanceoflastyear | 726,950,251.00 | 2,386,084,900.84 | 117,184,317.41 | 69,275,277.18 | 3,299,494,746.43 | |||||||
| Add:changesinaccountingpolicies | ||||||||||||
| Correctionofpriorperioderrors | ||||||||||||
| Other | ||||||||||||
| II.Balanceatbeginningofcurrentyear | 726,950,251.00 | 2,386,084,900.84 | 117,184,317.41 | 69,275,277.18 | 3,299,494,746.43 | |||||||
| III.Increasesanddecreasesofcurrentperiod(Decreaseshallbefilledinwith“-”) | -13,709,913.81 | -13,709,913.81 | ||||||||||
| (I)Totalcomprehensiveincome | 37,903,554.01 | 37,903,554.01 | ||||||||||
| (II)Investmentofshareholdersandcapitalreduction | ||||||||||||
| 1.Commonequityinvestedbyshareholders | ||||||||||||
| 2.Capitalinvestedbyotherequityinstrumentsholders | ||||||||||||
| 3.Theamountofsharesrecordedintotheshareholder'sequity | ||||||||||||
| 4.Others | ||||||||||||
| (III)Distributionofprofits | -51,613,467.82 | -51,613,467.82 | ||||||||||
| 1.Withdrawalofsurplusreserves | ||||||||||||
| 2.Distributiontoshareholders | -51,613,467.82 | -51,613,467.82 | ||||||||||
| 3.Others | ||||||||||||
| (IV)Innercarrying-overofshareholders'equities | ||||||||||||
| 1.Capitalreserveconvertedintocapital(orcapitalstock) | ||||||||||||
| 2.Surpluspublicaccumulationconvertedintocapital(orcapitalstock) | ||||||||||||
| 3.Surpluspublicaccumulationloss | ||||||||||||
| remedy | |||||||
| 4.Changeindefinedbenefitplancarriedforwardtoretainedearnings | |||||||
| 5.Othercomprehensiveincomecarriedforwardtoretainedearnings | |||||||
| 6.Others | |||||||
| (V)Specialreserve | |||||||
| 1.Withdrawalforcurrentperiod | |||||||
| 2.Useforcurrentperiod | |||||||
| (VI)Others | |||||||
| IV.Closingbalanceofcurrentperiod | 726,950,251.00 | 2,386,084,900.84 | 117,184,317.41 | 55,565,363.37 | 3,285,784,832.62 |
AmountofLastPeriod
| Items | AmountofLastPeriod | ||||||||||
| Paid-incapital | Otherequityinstruments | Capitalreserve | Less:treasurystock | Othercomprehensiveincome | Specialreserve | Surplusreserve | Undistributedprofit | Subtotal | |||
| Preferredstock | Perpetualbond | Others | |||||||||
| I.Year-endbalanceoflastyear | 726,950,251.00 | 2,382,994,900.84 | 109,487,064.39 | -239,475,977.89 | 2,979,956,238.34 | ||||||
| Add:changesinaccountingpolicies | |||||||||||
| Correctionofpriorperioderrors | |||||||||||
| Other | |||||||||||
| II.Balanceatbeginningofcurrentyear | 726,950,251.00 | 2,382,994,900.84 | 109,487,064.39 | -239,475,977.89 | 2,979,956,238.34 | ||||||
| III.Increasesanddecreasesofcurrentperiod(Decreaseshallbefilledinwith“-”) | 13,510,022.25 | 13,510,022.25 | |||||||||
| (I)Totalcomprehensiveincome | 13,510,022.25 | 13,510,022.25 | |||||||||
| (II)Investmentofshareholdersandcapitalreduction | |||||||||||
| 1.Commonequityinvestedbyshareholders | |||||||||||
| 2.Capitalinvestedbyotherequityinstrumentsholders | |||||||||||
| 3.Theamountofsharesrecordedintotheshareholder'sequity | |||||||||||
| 4.Others | |||||||||||
| (III)Distributionofprofits | |||||||
| 1.Withdrawalofsurplusreserves | |||||||
| 2.Distributiontoshareholders | |||||||
| 3.Others | |||||||
| (IV)Innercarrying-overofshareholders'equities | |||||||
| 1.Capitalreserveconvertedintocapital(orcapitalstock) | |||||||
| 2.Surpluspublicaccumulationconvertedintocapital(orcapitalstock) | |||||||
| 3.Surpluspublicaccumulationlossremedy | |||||||
| 4.Changeindefinedbenefitplancarriedforwardtoretainedearnings | |||||||
| 5.Othercomprehensiveincomecarriedforwardtoretainedearnings | |||||||
| 6.Others | |||||||
| (V)Specialreserve | |||||||
| 1.Withdrawalforcurrentperiod | |||||||
| 2.Useforcurrentperiod | |||||||
| (VI)Others | |||||||
| IV.Closingbalanceofcurrentperiod | 726,950,251.00 | 2,382,994,900.84 | 109,487,064.39 | -225,965,955.64 | 2,993,466,260.59 |
HainanJingliangHoldingsCo.,Ltd.NotestotheSemi-Annualof2024FinancialStatements(Unlessotherwisestated,theamountunitisRMBYuan)I.BasicInformationoftheCompany
1.Placeofincorporation,formoforganizationandheadofficeaddressHainanJingliangHoldingsCo.,Ltd.(hereinafterreferredtoas"theCompany"or"Company"or"JingliangHoldings")isestablishedinaccordancewiththeHainanProvincialPeople'sGovernmentGeneralOfficeQFBH(1992)No.1,approvedbyQY(1992)SGZNo.6DocumentofthePeople'sBankofHainanProvinceandre-registeredbyHainanPearlRiverEnterpriseCompanyonJanuary11,1992.TheCompanyissued81,880,000sharesintotaluponre-registration,ofwhich60,793,600shareswereconvertedfromthenetassetsoftheoriginalcompanyand21,086,400shareswerenewlyissued.AndthenameoftheCompanyisHainanPearlRiverEnterpriseCo.,Ltd.Thebusinesslicenseregistrationnumberofthejoint-stockcompanyis20128455-6,andtheholdingparentcompanyGuangzhouPearlRiverEnterpriseGroupholds36,393,600shares,accountingfor
44.45%.ApprovedbyZGB(1992)No.83DocumentofthePeople'sBankofChinainDecember1992,theadditional21,086,400shareswerelistedontheShenzhenStockExchangefortrading.Theindustryinvolvedisrealestate.
OnMarch25,1993,inresponsetoQGBH(1993)No.028ofHainanProvincialLeadingGroupOfficeandSRYFZ(1993)No.099ofShenzhenSpecialEconomicZoneBranchofthePeople'sBankofChina,theCompanyincreaseditssharecapitalbyconvertingtheoriginalsharecapitalinto139,196,000shares(accordingtodistributionof10,deliveryof5andtransferof2),withthecontrollingshareholderGuangzhouPearlRiverEnterprisesGroupholding48,969,120sharesaccountingfor35.18%attheendof1993.In1994,thesharecapitalwasincreasedby10to10,andthetotalsharecapitalwas278,392,000sharesaftertheincrease.Thecontrollingshareholder,GuangzhouPearlRiverEnterprisesGroup,holds97,938,240shares,accountingfor35.18%.In1995,theissuanceof50,000,000BShareswasapprovedbySZBF(1995)No.45andSZBF(1995)No.12.ThesharecapitaloftheCompanywasincreasedby10:1.5onthebasisofthesharecapitalaftertheadditionalBshareswereissued,andthesharecapitaloftheCompanyaftertheincreasewas377,650,800shares.Theholdingparentcompany,GuangzhouPearlRiverEnterprisesGroup,held112,628,976shares,accountingfor29.82%ofthetotal.
In1999,GuangzhouPearlRiverEnterprisesGrouptransferredall112,628,976sharestoBeijingWanfaRealEstateDevelopmentCo.,Ltd.AfterthetransferofshareswascompletedinJune1999,BeijingWanfaRealEstateDevelopmentCo.,Ltd.held112,628,976sharesoftheCompany,accountingfor29.82%ofthetotalsharesoftheCompany,andbecamethecontrollingshareholderoftheCompany.
OnJanuary10,2000,thenameoftheCompanywaschangedtoHainanPearlRiverHoldingCo.,Ltd.and
theBusinessLicenseforEnterpriseLegalPersonwasrenewedbyIndustrial&CommerceAdministrationBureauofHainanProvince.OnAugust17,2006,thereformplanofthesplitsharestructureoftheCompanywasimplemented.TheCompanytransferred49,094,604sharesofcapitalstocktoallshareholdersattheratioof10to1.3.Theoriginalnon-tradableshareholderstransferredtheincreasedsharestothetradableA-shareholders.BeijingWanfaRealEstateDevelopmentCo.,Ltd.reimbursedtheconsiderationsharesofthenon-tradableshareholderswhohavenotexpresslyexpressedtheiropinions.Theconvertedtotalsharecapitalwas426,745,404shares,andtheoriginalcontrollingshareholderBeijingWanfaRealEstateDevelopmentCo.,Ltd.held107,993,698shares,accountingfor
25.31%.Shareholdersofnon-tradablesharesrepaid3,289,780sharesinconsiderationofthesplitsharestructurein2007.Shareholdersofnon-tradablesharesrepaid1,196,000sharesinconsiderationofthesplitsharestructurein2009.On2September2016,BeijingWanfaRealEstateDevelopmentCo.,Ltd.,theoriginalcontrollingshareholder,transferredallofits112,479,478sharestoBeijingGrainGroupCo.,Ltd.(hereinafterreferredtoas"BeijingGrainGroup").UponcompletionofthesharetransferinSeptember2016,BeijingGrainGroupCo.,Ltd.held112,479,478shares,accountingfor26.36%ofthetotalsharesoftheCompany.InNovember2016,basedontheconfidenceinthesubjectmatterofthematerialassetrestructuringandthefuturedevelopmentoftheCompany,BeijingGrainGroupCo.,Ltd.decidedtoincreaseitsshareholdingthroughcentralizedbiddinginthesecondarymarket.Aftertheincrease,itheld123,561,963sharesoftheCompany,accountingfor28.95%ofthetotalnumberofshares,andbecamethelargestshareholderoftheCompany.
TheCompanydeterminedJuly31,2017asthedeliverydateofmaterialassetsinaccordancewiththematerialassetsrestructuringplanandthedeliveryagreement.OnSeptember14,2017,approvedpursuanttotheresolutionoftheSecondExtraordinaryGeneralMeetingofShareholdersoftheCompanyonNovember18,2016andtheApprovalReplyoftheChinaSecuritiesRegulatoryCommissiondatedJuly28,2017OnApprovalofHainanPearlRiverHoldingCo.,Ltd.toPurchaseAssetsandRaiseSupportingFundsfromBeijingGrainGroupCo.,Ltd.(ZJXK(2017)No.1391):1)TheCompanypurchasedassetsfromtheoriginalshareholdersofBeijingGrainFoodCo.,Ltd.(hereinafterreferredtoasBeijingGrainFood)byissuing210,079,552sharesofthebalancebetweenthetransactionpriceoftheinjectedassetsandtheassetstobepurchased(thedifferencebetweenthetransactionpriceoftheinjectedassetsandtheassetstobepurchasedwasRMB1,699.5436millionyuan).TheparvalueintheissuancewasRMB1.00pershareandtheissuancepricewasRMB8.09pershare;2)TheCompanyhasissued48,965,408non-publicsharesoftheCompanytoBeijingGrainGroupforthepurposeofpurchasingthesupportingfundsraisedfromtheassetsoftheissuanceofshares.TheparvaluepershareoftheCompanywasRMB1.00andtheissuancepricewasRMB8.82pershare.TheshareholderBeijingGrainGroupconductedsubscriptioninmonetaryfunds.Uponcompletionoftheissue,theregisteredcapitalwasRMB685,790,364.00andthesharecapitalwasRMB685,790,364.00.BeijingGrainGroup,whichaccountedfor42.06%ofthetotalnumberofshares,becamethelargestshareholderoftheCompany.OnNovember21,2019,withtheapprovalofBeijingShounongFoodGroupCo.,Ltd.(BeijingShounongFoodpublish[2019]No.212),ApprovalonthePlanofPurchasingAssetsbyCashandIssuingSharesofHainan
JingliangHoldingsCo.,Ltd,OnApril,2020,withtheapprovalofApprovalofHainanJingliangHoldingCo.,Ltd.IssuanceSharestoWangYuechengtoPurchaseAssetsbyChinaSecuritiesRegulatoryCommission[2020]No.610,thecompanyshallnotissuemorethan41,159,887newsharesinprivateofferingtoraisefundssupportingthepurchaseofassetsthroughtheissuedshares.TheCompanyanditssubsidiary,BeijingJingliangFoodCo.,Ltd.,purchasedthe25.1149%equitystakeofZhejiangLittlePrincebycashandissuanceofshares.AsofJune30,2024,thecompanyhasissued726,950,251.00shares,andthecompany'ssharecapitalis726,950,251.00yuan;UniformSocialCreditCode:914600002012845568;Registrationauthority:HainanMarketSupervisionAdministration;Companytype:LimitedCompany(Listed,State-controlled);Registeredaddress:F29,DihaoBuilding,PearlRiverSquare,BinhaiAvenue,HaikouCity;Legalrepresentative:WangChunli.
2.ThenatureoftheCompany'sbusinessanditsmainbusinessactivitiesTheCompanybelongstomanufacturing-agriculturalandsidelinefoodprocessingindustry.Itsmainbusinessactivitiesmainlyincludes:food,beverages,oilseedsandbyproducts,vegetableproteinsandtheirproducts,organicfertilizers,microbialfertilizers,productionandmarketingofagriculturalfertilizers;landconsolidation,soilremediation;agriculturalcomprehensiveplantingdevelopment,animalhusbandryandaquaculture,agriculturalequipmentproductionandmarketing;computernetworktechnology,investmentincommunicationprojects,researchanddevelopmentandapplicationofhigh-techproducts;investmentandconsultationofenvironmentalprotectionprojects;animation,graphicdesign;importandexporttradeingoodsandtechnology;rentalofownpremises.TheCompanyanditssubsidiariesareprincipallyengagedintheprocessing,productionandsalesofoilandoilseeds,andprocessingandsalesoffoodstuffs.
3.Thenameoftheparentcompanyandtheultimateparentcompany.TheparentcompanyofthecompanyisBeijingGrainGroupCo.,Ltd.,andtheultimateparentcompanyisBeijingCapitalAgribusinessFoodGroupCo.,Ltd.
4.BusinessCycleFrom22March1988to20September2025.
5.Theapprovalinstitutionandtheapprovaldateofthefinancialstatements.ThefinancialstatementshavebeenapprovedbytheBoardofDirectorsoftheCompanyinitsresolutiondatedAugust26th,2024.II.PreparationBasisforFinancialStatements
1.PreparationBasisBasedontheassumptionofgoingconcernandaccordingtoactualtransactionevents,thefinancialstatementsarepreparedinaccordancewiththerelevantprovisionsofAccountingStandardforBusinessEnterprisesandthefollowingstatedSignificantAccountingPoliciesandEstimates.
2.Goingconcern
TheCompanyhasagoingconcerncapabilityfor12monthsfromtheendofthereportingperiodandnomaterialmattersaffectingthecompany'sgoingconcerncapabilitywerefound.Therefore,thefinancialstatementsarepresentedonagoingconcernbasisisreasonable.III.SignificantAccountingPoliciesandEstimatesTheCompanyanditssubsidiariesareengagedintheprocessing,productionandsalesofoilandoilseeds,andprocessingandsalesoffoodstuffs.Accordingtothecharacteristicsofactualproductionandoperationandtheprovisionsofrelevantaccountingstandardsforbusinessenterprises,theCompanyanditssubsidiarieshaveformulatedanumberofspecificaccountingpoliciesandaccountingestimatesfortransactionsandeventssuchasrevenuerecognition.Fordetails,pleaserefertothedescriptionsinNoteⅢ,27“Revenue".
1.StatementofComplianceofAccountingStandardsforBusinessEnterprises
ThefinancialstatementspreparedbytheCompanybasedontheabovepreparationbasisconformtotherequirementsoftheAccountingStandardsforBusinessEnterprisesandtheirapplicationguidelines,explanationsandotherrelevantprovisions(collectivelyreferredtoas"ASBE")andtrulyandcompletelyreflecttheCompany'sfinancialstatus,operatingresults,cashflowandotherrelevantinformation.
Inaddition,thisfinancialreporthasbeenpreparedwithreferencetothepresentationanddisclosurerequirementsofthe“RulesGoverningthePreparationofDisclosureofInformationbyCompaniesOfferingPublicSecuritiesNo.15-GeneralProvisionsonFinancialReporting”(Revised2023)issuedbytheSecuritiesandFuturesCommission.
2.AccountingPeriod
TheaccountingperiodoftheCompanyisdividedintoanannualperiodandaninterimperiod.Theaccountinginterimperiodreferstothereportingperiodshorterthanafullaccountingyear.ThefiscalyearoftheCompanyadoptstheGregoriancalendaryear,thatis,fromJanuary1toDecember31ofeachyear.
3.BusinessCycle
ThenormalbusinesscycleistheperiodfromthetimetheCompanypurchasesassetsforprocessingtothetimewhencashorcashequivalentsarerealized.TheCompanyuses12monthsasabusinesscycleandusesitasaliquidityclassificationstandardforassetsandliabilities.
4.BookkeepingStandardCurrency
RMBisthecurrencyinthemaineconomicenvironmentinwhichtheCompanyanditsdomesticsubsidiariesoperate.TheCompanyanditsdomesticsubsidiariesuseRMBasthebookkeepingstandardcurrency.TheoffshoresubsidiariesoftheCompanydetermineUSDastheirbookkeepingstandardcurrencybasedonthecurrenciesinthemaineconomicenvironmentinwhichtheyoperate.ThecurrencyusedbytheCompanyinpreparingthesefinancialstatementsisRMB.
5.MaterialityStandardsDeterminationMethodandSelectionBasis
Thecompanyfollowsthematerialityprinciplewhenpreparinganddisclosingfinancialreports.Ifdisclosure
mattersinvolvethejudgmentofmaterialitystandards.themethodsofdeterminingmaterialitystandardsandselectionbasisaredisclosedasfollows:
| Disclosuremattersinvolvethejudgmentofmaterialitystandards | Methodsofdeterminingmaterialitystandardsandselectionbasis |
| Impairmenttestmadeonindividualaccountsreceivablewithsignificantamounts. | Impairmenttestmadeonindividualaccountsreceivablesaccountingover10%astotalprovisionforvarioustypesofbaddebtsreceivables,andamountsexceeding5millionyuan |
| Significantbaddebtreserveforaccountsreceivablerecoveredorreversed | Individualitemrecoveredorreversedaccountingover10%astotalamountsforvarioustypesofreceivablesandexceeding5millionyuan |
| Significantreceivablesactuallywrittenoff | Individualwrite-offamountaccountingforover10%astotalamountsofvarioustypesofbaddebtsreserveforreceivables,andamountsexceeding5millionyuan |
| Significantcontractualliabilitieswithagingoveroneyear | Individualcontractualliabilitieswithagingoveroneyearaccountingover10%oftotalamountofcontractualliabilities,andamountsexceeding10millionyuan |
| Significantprojectunderconstruction | Projectswithinvestmentsexceeding5millionyuan |
| Significantnon-whollyownedsubsidiaries | Non-whollyownedsubsidiarieswithindividualentityrevenueandnetprofitaccounting10%foritemsrelatedtotheCompany'sconsolidatedstatements |
| Significantassociatedenterpriseandjoint-venture. | Associatedenterpriseandjoint-venturewithnetprofitsharerecognizedinthecurrentperiodaccounting5%foritemsrelatedtotheCompany’sconsolidatedstatements |
6.TheAccountingTreatmentofBusinessCombinationundertheSameControlandDifferentControlBusinessCombinationreferstothetransactionoreventinwhichtwoormoreseparateenterprisesaremergedtoformonereportingentity.Businesscombinationcanbedividedintobusinesscombinationunderthesamecontrolandbusinesscombinationunderdifferentcontrol.
(1)BusinesscombinationunderthesamecontrolEnterprisesparticipatinginthecombinationareultimatelycontrolledbythesamepartyormultiplepartiesbeforeandafterthecombination,andthecontrolisnottemporary,soitisthebusinesscombinationunderthesamecontrol.Incaseofbusinesscombinationunderthesamecontrol,thepartythatobtainscontrolofotherenterprisesparticipatinginthecombinationonthecombinationdateshallbethecombinationparty,andtheotherenterprisesparticipatinginthecombinationshallbethemergedparty.Thecombinationdatereferstothedateonwhichthecombinationpartyactuallyacquirescontroloverthemergedparty.
Theassetsandliabilitiesacquiredbythecombinationpartyaremeasuredatthebookvalueofthemergedpartyatthedateofconsolidation,includinggoodwillthatwasformedduringacquisitionbyendcontroller.Ifthedifferencebetweenthebookvalueofthenetassetsacquiredbythemergingpartyandthebookvalueofthemergedconsideration(orthetotalparvalueoftheissuedshares)paidbythemergingparty,andthecapitalreserve(sharecapitalpremium)shallbeadjusted;Ifthecapitalreserve(equitypremium)isinsufficienttooffset,theretainedearningsshallbeadjusted.
Thedirectexpensesincurredbythemergingpartyforthepurposeofbusinesscombinationshallbeincludedintheprofitsandlossesofthecurrentperiodwhentheyareincurred.
(2)BusinesscombinationunderdifferentcontrolIftheenterprisesparticipatinginthemergerarenotultimatelycontrolledbythesamepartyormultiplepartiesbeforeandafterthemerger,theenterprisemergerisnotunderthesamecontrol.Incaseofbusinesscombinationunderdifferentcontrol,thepartythatobtainscontrolofotherenterprisesparticipatinginthecombinationonthedateofpurchaseshallbethePurchaser,andtheotherenterprisesparticipatinginthecombinationshallbethePurchasee.PurchasedatemeansthedateonwhichthePurchaseractuallyacquirescontrolofthePurchasee.Forbusinesscombinationunderdifferentcontrol,themergercostincludestheassets,liabilitiesandfairvalueofequitysecuritiesissuedbythePurchaserinordertoobtainthecontroloverthePurchaseeonthedateofpurchase,andtheintermediaryfeessuchasaudit,legalservice,appraisalandconsultationandothermanagementfeesfortheenterprisemergerareusedtorecordintotheprofitsandlossesofthecurrentperiodwhenincurred.ThetransactioncostsofequityordebtsecuritiesissuedbythePurchaserasamergerconsiderationareincludedintheinitialrecognitionamountoftheequityordebtsecurities.Contingentconsiderationinvolvedshallbeincludedintheconsolidationcostatitsfairvalueatthepurchasedate,andtheconsolidationgoodwillshallbeadjustedaccordinglyifneworfurtherevidenceoftheexistenceofcircumstancesatthepurchasedateappearswithin12monthsafterthepurchasedateandtheadjustmentorconsiderationisrequired.TheconsolidationcostincurredbythePurchaserandtheidentifiablenetassetsacquiredduringtheconsolidationaremeasuredatthefairvalueatthedateofpurchase.ThedifferencebetweenthemergercostsandthefairvaluesharesoftheidentifiablenetassetsofthePurchaseeatthepurchasedateobtainedinthemergerisrecognizedasgoodwill.IfthecombinedcostislessthanthefairvalueoftheidentifiablenetassetsofthePurchaseeinthemerger,first,thefairvalueoftheidentifiableassets,liabilitiesandcontingentliabilitiesofthePurchaseeandthemeasurementoftheconsolidationcostshallbere-checked.IftheconsolidationcostisstillsmallerthanthefairvalueshareoftheidentifiablenetassetsofthePurchasedobtainedintheconsolidationafterthere-check,thedifferenceshallberecordedintotheprofitsandlossesofthecurrentperiod.
WhenthePurchaseracquiresthedeductibletemporarydifferenceofthePurchasee,ifitfailstorecognizethedeferredincometaxassetsonthedateofpurchasebecauseitdoesnotmeettherecognitionconditionsforthedeferredincometax,andwithin12monthsofthedateofpurchase,neworfurtherinformationisobtainedindicatingthattherelevantcircumstancesatthepurchasedatealreadyexistandtheeconomicbenefitsfromthetemporarydifferencedeductiblebythepurchaseronthepurchasedateareexpectedtoberealized,therelevantdeferredincometaxassetsshallberecognized,andthegoodwillshallbereduced.Ifthegoodwillisnotsufficientlyoffset,thedifferenceshallberecognizedasthecurrentprofitorloss;Inadditiontotheabovecircumstances,thedeferredincometaxassetsrelatedtotheenterprisemergerarerecognizedandincludedinthecurrentprofitsandlosses.
Throughmulti-transactionandstep-by-stepbusinesscombinationunderdifferentcontrol,accordingtotheCircularoftheMinistryofFinanceonPrintingandIssuingtheInterpretationofAccountingStandardsforBusinessEnterprisesNo.5(CK(2012)No.19)andArticle51oftheAccountingStandardsforBusinessEnterprisesNo.33-ConsolidatedFinancialStatementsonthejudgmentcriteriaof"packagedeal"(see7(2)of
NoteⅢ),itisdeterminedwhetherthemultipletransactionsbelongtothe"packagedeal".Inthecaseofa"packagedeal",theaccountingtreatmentshallbeperformedwithreferencetothedescriptionintheprecedingparagraphsofthissectionandNoteⅢ,15"Long-termEquityInvestments";Ifthetransactionisnota"packagedeal",theaccountingtreatmentshallbedistinguishedbetweentheindividualfinancialstatementsandtheconsolidatedfinancialstatements:
Intheindividualfinancialstatements,thesumofthebookvalueoftheequityinvestmentheldbythePurchaserpriortothepurchasedateandthecostofthenewinvestmentatthepurchasedateshallbetakenastheinitialinvestmentcostoftheinvestment;WheretheequityofthePurchasedheldbeforethedateofpurchaseinvolvesothercomprehensiveincome,theotherconsolidatedincomeassociatedwiththeinvestmentisaccountedforonthesamebasisastheassetsorliabilitiesdirectlydisposedofbythePurchaser(i.e.,exceptforthecorrespondingshareinthechangecausedbytheacquisitionofthenetliabilityornetassetsofthedefinedbenefitplanremeasuredinaccordancewiththeequitymethod,therestistransferredtothecurrentinvestmentincome).
Intheconsolidatedfinancialstatements,theequityofthePurchasedheldpriortothedateofpurchaseisremeasuredaccordingtothefairvalueoftheequityatthedateofpurchase,andthedifferencebetweenthefairvalueandthecarryingvalueisincludedintheinvestmentincomeofthecurrentperiod;WheretheequityofthePurchaseeheldbeforethedateofpurchaseinvolvesothercomprehensiveincome,otherconsolidatedincomerelatedtheretoshallbeaccountedforonthesamebasisasthedirectdisposaloftherelevantassetsorliabilitiesbythePurchaser(i.e.,exceptforthecorrespondingshareinthechangecausedbytheacquisitionofthenetliabilityornetassetofthedefinedbenefitplanremeasuredinaccordancewiththeequitymethod,therestisconvertedintotheinvestmentincomeofthecurrentperiodtowhichtheacquisitiondatebelongs).
7.CriteriafortheJudgmentofControlandMethodsforthePreparationofConsolidatedFinancialStatements.
(1)CriteriafortheJudgmentofControl
Thescopeofconsolidationoftheconsolidatedfinancialstatementsisdeterminedonacontrolbasis.ControlmeansthattheCompanyhastheauthorityovertheInvestee,enjoysavariablereturnbyparticipatingintherelevantactivitiesoftheInvestee,andhastheabilitytouseitsauthorityovertheInvesteetoinfluencetheamountofsuchreturn.ThescopeofthemergerincludestheCompanyandallitssubsidiaries.SubsidiaryreferstothemainbodycontrolledbytheCompany.
TheCompanywillre-evaluatetheabovecontroldefinitionsoncetherelevantfactsandcircumstanceschange,whichresultsinthechangeoftherelevantelements.
(2)Preparationmethodofconsolidatedfinancialstatement
TheCompanybeginstoincorporatethenetassetsofthesubsidiaryandtheactualcontroloftheproductionandoperationdecisionsintothescopeofthemergerfromthedatewhenthesubsidiaryisacquired;Ceasetobeincludedinthescopeofthemergerasofthedateoflossofeffectivecontrol.Forthesubsidiariesdisposedof,theoperatingresultsandcashflowspriortothedateofdisposalhavebeenappropriatelyincludedintheconsolidated
incomestatementandconsolidatedcashflowstatement;Forsubsidiariesdisposedofinthecurrentperiod,theopeningamountoftheconsolidatedbalancesheetisnotadjusted.Theoperatingresultsandcashflowsofsubsidiariesincreasedbyconsolidationafterpurchasehavebeenproperlyincludedintheconsolidatedincomestatementandconsolidatedcashflowstatement,andtheopeningandcomparativeamountsintheconsolidatedfinancialstatementshavenotbeenadjustedforsubsidiariesthatarenotunderthesamecontrol.Theoperatingresultsandcashflowsofthesubsidiariesincreasedbyconsolidationunderthesamecontrolfromthebeginningoftheconsolidationperiodtotheconsolidationdatehavebeenappropriatelyincludedintheconsolidatedprofitstatementandconsolidatedcashflowstatement,andthecomparativeamountoftheconsolidatedfinancialstatementshasbeenadjustedatthesametime.
Inthepreparationoftheconsolidatedfinancialstatements,iftheaccountingpoliciesoraccountingperiodsadoptedbythesubsidiariesareinconsistentwiththoseadoptedbytheCompany,necessaryadjustmentsshallbemadetothefinancialstatementsofthesubsidiariesinaccordancewiththeaccountingpoliciesandaccountingperiodsoftheCompany.Forsubsidiariesacquiredthroughbusinesscombinationunderdifferentcontrol,thefinancialstatementsshallbeadjustedonthebasisofthefairvalueofidentifiablenetassetsatthedateofpurchase.Allsignificanttransactionbalances,transactionsandunrealizedprofitswithintheCompanyareoffsetatthetimeofpreparationoftheconsolidatedfinancialstatements.Theshareholders'equityandtheportionofthenetprofitorlossofthesubsidiarythatisnotownedbytheCompanyforthecurrentperiodareseparatelypresentedasminorityshareholders'equityandminorityshareholders'profitorlossintheconsolidatedfinancialstatementsundershareholders'equityandnetprofit.Thesharesofminorityshareholders'equityinthenetprofitsandlossesofsubsidiariesforthecurrentperiodareshownas"minorityshareholders'profitsandlosses"underthenetprofititemintheconsolidatedincomestatement.Lossessharedbyminorityshareholdersinasubsidiaryexceedtheminorityshareholders'shareintheshareholders'equityofthesubsidiaryatthebeginningoftheperiod,andstilldecreasebyanumberofshareholders'equity.
Whenthecontroloftheoriginalsubsidiaryislostduetothedisposalofpartoftheequityinvestmentorotherreasons,theresidualequityshallberevaluedaccordingtoitsfairvalueatthedateoflossofcontrol.Thesumofconsiderationobtainedfromthedisposalofequityandthefairvalueoftheremainingequityminusthedifferencebetweenthesharesofthenetassetsoftheoriginalsubsidiarythatshallbecontinuouslycalculatedfromthepurchasedateaccordingtotheoriginalshareholdingproportionshallbeincludedintheinvestmentincomeofthecurrentperiodoflossofcontrol.Othercomprehensiveincomerelatedtotheequityinvestmentoftheoriginalsubsidiary,intheeventoflossofcontrol,theaccountingtreatmentisperformedonthesamebasisasthedirectdisposaloftherelevantassetsorliabilitiesbythePurchased(i.e.convertedtocurrentinvestmentincome,exceptforchangesresultingfromthere-measurementofthenetliabilitiesornetassetsoftheDefinedBenefitPlanintheoriginalsubsidiary).Thereafter,theresidualequityshallbesubsequentlymeasuredinaccordancewiththerelevantprovisionsofAccountingStandardsforBusinessEnterprisesNo.2-Long-termEquityInvestmentorAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments,as
detailedinNoteⅢ,15-Long-termEquityInvestmentorNoteⅢ,11-FinancialInstruments.IftheCompanydisposesoftheequityinvestmentinsubsidiariesstepbystepuntilitlosescontrolthroughmultipletransactions.Itisnecessarytodistinguishwhetherthetransactionsthatdisposeoftheequityinvestmentinsubsidiariesuntilitlosescontrolbelongtoapackagedealornot.Theterms,conditionsandeconomicimpactofthetransactionsforthedisposalofequityinvestmentsinsubsidiariesareinaccordancewithoneormoreofthefollowingcircumstancesandgenerallyindicatethatmultipletransactionsshouldbeaccountedforasapackagedeal:①Thesetransactionswereenteredintosimultaneouslyortakingintoaccounteachother'sinfluence;②Onlywhenthesetransactionsaretakentogethercanacompletebusinessresultbeachieved;③Theoccurrenceofonetransactiondependsontheoccurrenceofatleastoneothertransaction;④Itisnoteconomicaltoconsideratransactionalone,butitiseconomicaltoconsideritinconjunctionwithothertransactions.Fortransactionsthatarenotpartofthepackagedeal,eachtransactionshallbeaccountedforinaccordancewiththeprinciplesapplicabletothe"partialdisposaloflong-termequityinvestmentsinsubsidiarieswithoutlossofcontrol"(asdetailedin15ofNoteⅢ)andthe"lossofcontroloverexistingsubsidiariesasaresultofthedisposalofpartoftheequityinvestmentsorotherreasons"(asdetailedintheprecedingparagraph),asappropriate.Ifthetransactionsinvolvingthedisposalofequityinvestmentsinsubsidiariesuntilthelossofcontrolbelongtoapackagedeal,thetransactionsshallbeaccountedforasatransactioninvolvingthedisposalofsubsidiariesandthelossofcontrol;However,thedifferencebetweeneachdisposalpriceandtheshareofthesubsidiary'snetassetscorrespondingtothedisposalinvestmentpriortothelossofcontrolisrecognizedintheconsolidatedfinancialstatementsasotherconsolidatedgainsandtransferredtotheprofitorlossforthecurrentperiodoflossofcontrolintheeventoflossofcontrol.
8ClassificationofJointVentureArrangementsandAccountingTreatmentofJointOperationAjointventurearrangementisanarrangementunderthejointcontroloftwoormoreparticipants.TheCompanydividesthejointventurearrangementintojointoperationandjointventureinaccordancewiththerightsandobligationsitenjoysinthejointventurearrangement.Ajointoperationisajointarrangementwherebythepartiesthathavejointcontrolofthearrangementhaverightstotheassets,andobligationsfortheliabilities,relatingtothearrangement.Ajointventureisatypeofjointarrangementwherebythepartiesthathavejointcontrolofthearrangementhaverightstothenetassetsofthejointventure.
TheCompany'sinvestmentinthejointventureisaccountedforusingtheequitymethod,andshallbetreatedinaccordancewiththeaccountingpolicydescribedinNoteⅢ,15"Long-termEquityInvestmentAccountedbytheEquityMethod".TheCompany,asajointventureparty,recognizestheassetsandliabilitiesheldandassumedbytheCompanyseparately,andrecognizestheassetsandliabilitiesjointlyheldandassumedbytheCompanyaccordingtothesharesoftheCompany;recognizestherevenuegeneratedfromthesaleoftheshareofjointoperatingoutputenjoyedbytheCompany;recognizesrevenuegeneratedfromthesaleofoutputfromjointoperationsonthebasisoftheCompany'sshare;confirmstheexpensesincurredbytheCompanyindividuallyandtheexpensesincurredbythejointoperationaccordingtothesharesoftheCompany.
WhentheCompanyinvestsorsellsassetsasajointventure(suchassetsdonotconstitutebusiness,thesamebelow),orpurchasesassetsfromthejointventure,theCompanyrecognizesonlytheportionoftheprofitsandlossesattributabletotheotherparticipantsinthejointventurethatarisesfromthetransactionpriortothesaleofsuchassetstoathirdparty.WheresuchassetsareimpairedinaccordancewiththeprovisionsofAccountingStandardsforBusinessEnterprisesNo.8-ImpairmentofAssets,theCompanyshallfullyrecognizesuchlossesinthecasewheretheassetsarecastorsoldbytheCompanytojointoperations;FortheassetspurchasedbytheCompanyfromthejointoperation,theCompanyrecognizesthelossesaccordingtothesharesitassumes.
9.DeterminingStandardsforCashandCashEquivalent
CashandcashequivalentsoftheCompanyincludecashonhand,depositsthatcanbereadilywithdrawnondemand.CashequivalentsareinvestmentsheldbytheCompanywithashortterm(usuallymaturingwithinthreemonthsfromthedateofpurchase),highliquidity,readilyconvertibletoknownamountsofcashandwhicharesubjecttoaninsignificantriskofchangesinvalue.
10.ForeignCurrencyBusinessandTranslationofForeignCurrencyStatements
(1)Translationmethodforforeigncurrencytransaction
Atthetimeofinitialconfirmation,theforeigncurrencytransactionsoccurringintheCompanyshallbeconvertedintothebookkeepingfunctionalcurrencyamountatthespotexchangerateonthetradingday,buttheforeigncurrencyexchangebusinessortransactionsinvolvingforeigncurrencyexchangeoccurringintheCompanyshallbeconvertedintothebookkeepingfunctionalcurrencyamountattheactualexchangerate.
(2)Translationmethodforforeigncurrencymonetaryitemsandforeigncurrencynon-monetaryitem
Onthebalancesheetdate,theforeigncurrencymonetaryitemsareconvertedatthespotexchangerateonthebalancesheetdate,andtheexchangedifferencearisingtherefromshallbe:①Theexchangedifferencearisingfromthespecialforeigncurrencyborrowingsrelatedtotheacquisitionandconstructionofassetseligibleforcapitalizationshallbehandledinaccordancewiththeprincipleofcapitalizationofborrowingcosts;②Theexchangedifferenceofthehedginginstrumentsusedforeffectivehedgingofthenetinvestmentinoverseasoperations(thedifferenceisincludedinothercomprehensiveincome,andisnotrecognizedascurrentprofitorlossuntilthenetinvestmentisdisposedof);③Exceptfortheamortizedcost,theexchangedifferencesarisingfromthechangesinthebookbalanceoftheavailable-for-salemonetaryitemsinforeigncurrenciesshallbeincludedintheothercomprehensiveincome,andshallbeincludedintheprofitsandlossesofthecurrentperiod.
Wherethepreparationoftheconsolidatedfinancialstatementsinvolvesoverseasoperations,ifthereareforeigncurrencymonetaryitemsconstitutingnetinvestmentinoverseasoperations,theexchangedifferencesarisingfromexchangeratechangesshallbeincludedinothercomprehensiveincome;Whendisposingofoverseasoperations,theprofitsandlossesshallbetransferredtothecurrentdisposalperiod.
Non-monetaryitemsinforeigncurrenciesmeasuredathistoricalcostshallstillbemeasuredatthebookkeepingamountinfunctionalcurrencytranslatedatthespotexchangerateonthetransactiondate.Fornon-monetaryitemsinforeigncurrenciesmeasuredatfairvalue,thespotexchangerateatthedateoffairvalue
determinationshallbeadoptedforconversion.Thedifferencebetweentheconvertedamountinfunctionalcurrencyandtheamountinoriginalfunctionalcurrencyshallbetreatedasthechangeinfairvalue(includingthechangeinexchangerate),andshallberecordedintotheprofitsandlossesofthecurrentperiodorrecognizedasothercomprehensiveincome.
(3)TranslationmethodforfinancialstatementsinforeigncurrenciesWherethepreparationoftheconsolidatedfinancialstatementsinvolvesoverseasoperations,ifthereareforeigncurrencymonetaryitemsconstitutingnetinvestmentinoverseasoperations,theexchangedifferencesarisingfromexchangeratechangesshallbeas"foreigncurrencyreportconversiondifference"andbeconfirmedasothercomprehensiveincome;Whendisposingofoverseasoperations,theprofitsandlossesshallbetransferredtothecurrentdisposalperiod.
TheforeigncurrencyfinancialstatementsofoverseasoperationsshallbeconvertedintoRMBstatementsinthefollowingways:theassetsandliabilitiesinthebalancesheetshallbeconvertedatthespotexchangerateonthebalancesheetdate;Exceptfor"undistributedprofits",otheritemsofshareholders'equityshallbeconvertedatthespotexchangerateatthetimeofoccurrence.Theincomeandexpenseitemsintheprofitstatementshallbeconvertedattheaverageexchangerateofthecurrentperiodonthedateoftransaction.Theundistributedprofitatthebeginningoftheperiodshallbetheundistributedprofitattheendoftheperiodconvertedfromthepreviousyear;Theundistributedprofitsattheendoftheyearshallbecalculatedandlistedaccordingtotheconvertedprofitsdistributionitems;Thedifferencebetweentheconvertedassetitemsandthetotalamountoftheliabilityitemsandshareholders'equityitemsshallberecognizedasothercomprehensiveincomeasthetranslationdifferenceintheforeigncurrencystatements.Incaseofdisposalofoverseasoperationsandlossofcontrol,thebalanceintranslationoftheforeigncurrencystatementsrelatedtotheoverseasoperationsasshownbelowintheshareholders'equityitemsinthebalancesheetshallbetransferredtotheprofitsandlossesofthedisposalperiodinwholeorinproportiontothedisposaloftheoverseasoperations.
Cashflowsinforeigncurrenciesandcashflowsofoverseassubsidiariesshallbeconvertedattheaverageexchangerateofthecurrentperiodonthedateofoccurrenceofthecashflows.Theeffectofexchangeratechangesoncashshallbepresentedseparatelyinthestatementofcashflowsasareconcilingitem.
Openingamountsandprior-periodactualamountsshallbeshownonthebasisofamountstranslatedfromtheprior-periodfinancialstatements.
Whendisposingofalltheowner'sequityoftheCompany'soverseasoperationsorlosingthecontroloveroverseasoperationsduetothedisposalofpartoftheequityinvestmentorforotherreasons,ifthefollowingitemsofshareholders'equityinthebalancesheetareshownbelow,thebalanceintranslationoftheforeigncurrencystatementattributabletotheowner'sequityoftheparentcompanyrelatedtotheoverseasoperationshallbetransferredtotheprofitsandlossesofthecurrentdisposalperiod.
Intheeventthattheproportionofoverseasbusinessinterestsisreducedduetothedisposalofpartoftheequityinvestmentorforotherreasons,butthecontroloveroverseasbusinessoperationsisnotlost,thebalanceinthetranslationoftheforeigncurrencystatementsrelatedtothedisposalofpartofoverseasbusinessoperations
shallbeattributedtominorityshareholders'interestsandshallnotbetransferredtotheprofitsandlossesofthecurrentperiod.Whendisposingofpartoftheequityofanoverseasoperationasanassociatedenterpriseorajointventure,thebalanceofthetranslationoftheforeigncurrencystatementsrelatedtotheoverseasoperationshallbetransferredintotheprofitsandlossesofthecurrentdisposalperiodintheproportionoftheoverseasoperationdisposedof.
11.FinancialinstrumentsFinancialinstrumentsarethecontractsthatformthefinancialassetsofoneentity,andatthesametimeformthefinancialliabilitiesorequityinstrumentsofotherentities.
(1)Classification,confirmationandmeasurementoffinancialassetsAccordingtothebusinessmodeofmanagingfinancialassetsandthecontractualcashflowcharacteristicsoffinancialassets,theCompanydividesfinancialassetsinto:Financialassetsmeasuredatamortizedcost.Financialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincome.Financialassetsthataremeasuredatfairvalueandwhosemovementsareincludedinthecurrentprofitsandlosses.
Financialassetsaremeasuredatfairvalueatinitialrecognition.Forfinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitsandlosses,relevanttransactioncostsaredirectlyincludedincurrentprofitsandlosses.Forothertypesoffinancialassets,relevanttransactioncostsareincludedintheinitialrecognitionamount.AccountsreceivableornotesreceivablearisingfromthesaleofproductsortheprovisionoflaborservicesthatdonotcontainortakeintoaccountsignificantfinancingcomponentsshallbeinitiallyrecognizedbytheCompanyinaccordancewiththeamountofconsiderationthattheCompanyisexpectedtobeentitledtoreceive.
①Financialassetsmeasuredatamortizedcost
TheGroupmeasuresfinancialassetsatfairvaluethroughothercomprehensiveincomeifbothofthefollowingconditionsaremet:thefinancialassetisheldwithinabusinessmodelwiththeobjectiveofbothholdingtocollectcontractualcashflowsandselling;thecontractualtermsofthefinancialassetgiveriseonspecifieddatestocashflowsthataresolelypaymentsofprincipalandinterestontheprincipalamountoutstanding.Interestincomeofsuchfinancialassetsisrecognizedbasedoneffectiveinterestmethod.TheCompanymeasuresthesefinancialassetsatfairvalueandtheirchangesareincludedinothercomprehensiveincome,butimpairmentlossorgain,exchangegainorlossandinterestincomecalculatedaccordingtotheeffectiveinterestratemethodareincludedintothecurrentprofitandloss.
②Financialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincome
TheGroupmeasuresfinancialassetsatfairvaluethroughothercomprehensiveincomeifbothofthefollowingconditionsaremet:thefinancialassetisheldwithinabusinessmodelwiththeobjectiveofbothholdingtocollectcontractualcashflowsandselling;thecontractualtermsofthefinancialassetgiveriseonspecifieddatestocashflowsthataresolelypaymentsofprincipalandinterestontheprincipalamountoutstanding.Interestincomeofsuchfinancialassetsisrecognisedbasedoneffectiveinterestmethod.TheCompanymeasuresthese
financialassetsatfairvalueandtheirchangesareincludedinothercomprehensiveincome,butimpairmentlossorgain,exchangegainorlossandinterestincomecalculatedaccordingtotheeffectiveinterestratemethodareincludedintothecurrentprofitandloss.Inaddition,theCompanydesignatessomenon-tradableequityinstrumentinvestmentsasfinancialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincome.TheCompanyshallrecordtherelevantdividendincomeofsuchfinancialassetsintothecurrentprofitsandlosses,andthechangeoffairvalueintoothercomprehensiveincome.Whenthefinancialassetisderecognized,theaccumulatedgainsorlossespreviouslyincludedinothercomprehensiveincomewillbetransferredfromothercomprehensiveincometoretainedincomeandwillnotbeincludedincurrentprofitsandlosses.
③FairvaluethroughProfitandLossFinancialassetsTheCompanyclassifiestheabovefinancialassetsmeasuredatamortizedcostandfinancialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincomeintofinancialassetsmeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses.Inaddition,duringinitialrecognition,inordertoeliminateorsignificantlyreduceaccountingmismatch,theCompanydesignatedpartoffinancialassetsasfinancialassetsmeasuredatfairvaluewithchangesincludedincurrentprofitandloss.Forsuchfinancialassets,theCompanyadoptsfairvalueforsubsequentmeasurement,andthechangesinfairvalueareincludedintothecurrentprofitandloss.
(2)Classification,recognitionandmeasurementoffinancialliabilitiesFinancialliabilitiesuponinitialrecognitionareclassifiedasfinancialliabilitieswhicharemeasuredatfairvalueandwhosechangesareincludedincurrentprofitsandlossesandotherfinancialliabilities.Forthefinancialliabilitiesmeasuredatfairvaluewiththechangesincludedintothecurrentprofitsandlosses,therelevanttransactioncostsaredirectlyincludedintothecurrentprofitsandlosses,andtherelevanttransactioncostsofotherfinancialliabilitiesareincludedintheinitialrecognitionamount.
①FinancialliabilitiesatfairvaluethroughprofitorlossFinancialliabilitiesmeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses,whichincludetransactionalfinancialliabilities(includingderivativesbelongingtofinancialliabilities)andfinancialliabilitiesdesignatedtobemeasuredatfairvaluewithchangesincludedincurrentprofitsandlossesatinitialrecognition.
Tradingfinancialliabilities(includingderivativesbelongingtofinancialliabilities)aresubsequentlymeasuredaccordingtotheirfairvalues.Exceptforthoserelatedtohedgeaccounting,changesinfairvaluesareincludedincurrentprofitsandlosses.
Financialliabilitiesdesignatedtobemeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses.ChangesinthefairvalueofthisliabilitycausedbychangesintheCompany'sowncreditriskareincludedinothercomprehensiveincome.Whentheliabilityisderecognized,theaccumulatedchangeinfairvaluecausedbychangesinitsowncreditriskincludedinothercomprehensiveincomeistransferredtoretainedearnings.Changesinfairvalueareaccountedintocurrentprofitsandlosses.Iftheabove-mentionedtreatmentoftheimpact
ofchangesinthecreditriskofthesefinancialliabilitieswillcauseorexpandaccountingmismatchinprofitsandlosses,theCompanywillincludeallprofitsorlossesofthefinancialliabilities(includingtheimpactamountofchangesinthecreditriskoftheenterpriseitself)intothecurrentprofitsandlosses.
②OtherfinancialliabilitiesExceptforfinancialliabilitiesandfinancialguaranteecontractsformedbythetransferoffinancialassetsthatdonotmeettheconditionsforterminationofrecognitionorcontinuetobeinvolvedinthetransferredfinancialassets,otherfinancialliabilitiesareclassifiedasfinancialliabilitiesmeasuredatamortizedcostandsubsequentlymeasuredatamortizedcost.Gainsorlossesarisingfromterminationofrecognitionoramortizationareincludedincurrentprofitsandlosses.
(3)BasisofConfirmationandCalculationoffinancialinstrumentsFinancialassetsshallbederecognizediftheymeetoneofthefollowingconditions:①Theterminationofthecontractualrighttoreceivecashflowfromthefinancialasset.②Thefinancialassethasbeentransferred,andalmostallrisksandrewardsrelatedtotheownershipofthefinancialassethavebeentransferredtothetransferee.③Thefinancialassethasbeentransferred.Althoughtheenterprisehasneithertransferrednorretainedalmostallrisksandrewardsintheownershipofthefinancialasset,ithasgivenupitscontroloverthefinancialasset.
Iftheenterpriseneithertransfersnorretainsalmostalltherisksandrewardsoftheownershipofthefinancialassets,anddoesnotgiveupthecontroloverthefinancialassets,therelevantfinancialassetsshallberecognizedaccordingtotheextentofcontinuousinvolvementinthetransferredfinancialassets,andtherelevantliabilitiesshallberecognizedaccordingly.Thedegreeofcontinuousinvolvementinthetransferredfinancialassetsreferstotherisklevelfacedbytheenterpriseduetothechangeinthevalueofthefinancialassets.Iftheoveralltransferoffinancialassetsmeetstheconditionsforterminationofrecognition,thedifferencebetweenthebookvalueofthetransferredfinancialassetsandthesumoftheconsiderationreceivedduetothetransferandtheaccumulatedamountofchangesinfairvalueoriginallyincludedinothercomprehensiveincomeshallbeincludedintothecurrentprofitsandlosses.
Ifthepartialtransferoffinancialassetsmeetstheconditionsforterminationofrecognition,thebookvalueofthetransferredfinancialassetsshallbeapportionedaccordingtoitsrelativefairvaluebetweenthederecognizedpartandthenon-derecognizedpart,andthedifferencebetweenthesumoftheconsiderationreceivedduetothetransferandtheaccumulatedchangeinfairvalueoriginallyincludedinothercomprehensiveincomethatshallbeapportionedtothederecognizedpartandtheallocatedaforesaidbookamountshallbeincludedintothecurrentprofitsandlosses.
ForfinancialassetssoldbytheCompanywithrecourse,orforendorsementandtransferofheldfinancialassets,itisnecessarytodeterminewhetheralmostallrisksandrewardsintheownershipofthefinancialassetshavebeentransferred.Ifalmostallrisksandrewardsintheownershipofthefinancialassethavebeentransferredtothetransferee,therecognitionofthefinancialassetshallbeterminated.Ifalmostallrisksandrewardsonthe
ownershipofafinancialassetareretained,therecognitionofthefinancialassetshallnotbeterminated.Ifalmostallrisksandrewardsrelatedtotheownershipoffinancialassetshavenotbeentransferredorretained,itshallcontinuetojudgewhethertheenterpriseretainscontrolovertheassetsandcarryoutaccountingtreatmentaccordingtotheprinciplesmentionedintheprecedingparagraphs.
(4)TerminationofrecognitionoffinancialliabilitiesIfthecurrentobligationofthefinancialliability(orpartthereof)hasbeenrelieved,theCompanyterminatestherecognitionofthefinancialliability(orpartthereof).TheCompany(theborrower)andthelendersignanagreementtoreplacetheoriginalfinancialliabilitiesbyassumingnewfinancialliabilities.Ifthecontracttermsofthenewfinancialliabilitiesandtheoriginalfinancialliabilitiesaresubstantiallydifferent,theoriginalfinancialliabilitiesshallbederecognizedandanewfinancialliabilityshallberecognizedatthesametime.IftheCompanymakesanysubstantialmodificationtothecontracttermsoftheoriginalfinancialliability(orpartthereof),theoriginalfinancialliabilityshallbederecognizedandanewfinancialliabilityshallberecognizedinaccordancewiththemodifiedterms.Iffinancialliabilities(orpartthereof)arederecognized,theCompanyshallincludethedifferencebetweenitsbookvalueandtheconsiderationpaid(includingtransferrednon-cashassetsorliabilitiesassumed)intothecurrentprofitsandlosses.
(5)OffsetoffinancialassetsandfinancialliabilitiesWhentheCompanyhasthelegalrighttooffsettherecognizedamountoffinancialassetsandfinancialliabilities,andsuchlegalrightiscurrentlyenforceable,andtheCompanyplanstosettlethefinancialassetsonanetbasisorrealizethefinancialassetsandsettlethefinancialliabilitiesatthesametime,thefinancialassetsandfinancialliabilitiesarelistedinthebalancesheetatanetamountaftermutualoffset.Inaddition,financialassetsandfinancialliabilitiesshallbelistedseparatelyinthebalancesheetandshallnotbeoffsetagainsteachother.
(6)ThefairvaluedeterminationmethodoffinancialassetsandfinancialliabilitiesFairvaluereferstothepricethatmarketparticipantscanreceivefromsellinganassetorpaytotransferaliabilityinanorderlytransactiononthemeasurementdate.Wherethereisanactivemarketforfinancialinstruments,theCompanyadoptsquotationsintheactivemarkettodeterminetheirfairvalues.Quotedpriceinactivemarketreferstothepriceeasilyobtainedfromexchanges,brokers,industryassociations,pricingserviceagencies,etc.onaregularbasis,andrepresentsthepriceofmarkettransactionsactuallyoccurredinfairtrading.Ifthereisnoactivemarketforfinancialinstruments,theCompanyusesevaluationtechniquestodeterminetheirfairvalues.Evaluationtechniquesincludereferencetopricesusedinrecentmarkettransactionsbypartiesfamiliarwiththesituationandwillingtotrade,referencetocurrentfairvaluesofotherfinancialinstrumentsthataresubstantiallythesame,discountingcashflowtechnique,optionpricingmodel,etc.Invaluation,theCompanyadoptsvaluationtechniquesthatareapplicableundercurrentcircumstancesandaresupportedbysufficientavailabledataandotherinformation,selectsinputvaluesthatareconsistentwiththecharacteristicsofassetsorliabilitiesconsideredbymarketparticipantsintransactionsrelatedtoassetsorliabilities,andgivesprioritytotheuseofrelevantobservableinputvaluesasmuchaspossible.Iftherelevantobservableinputvaluecannotbe
obtainedoritisnotimpracticabletoobtainit,thenon-inputvalueshallbeused.
(7)EquityinstrumentsEquityinstrumentsrefertocontractsthatcanproveownershipoftheCompany'sresidualequityinassetsafterdeductingallliabilities.Theissuance(includingrefinancing),repurchase,saleorcancellationofequityinstrumentsbytheCompanyaretreatedaschangesinequity,andtransactioncostsrelatedtoequitytransactionsaredeductedfromequity.TheCompanydoesnotrecognizechangesinthefairvalueofequityinstruments.Dividends(including"interest"generatedbyinstrumentsclassifiedasequityinstruments)distributedbytheCompany'sequityinstrumentsduringtheirexistenceshallbetreatedasprofitdistribution.
12.ImpairmentoffinancialassetsThefinancialassetsoftheCompanythatneedtoconfirmtheimpairmentlossarefinancialassetsmeasuredatamortizedcostanddebtinstrumentinvestmentmeasuredatfairvaluewithchangesincludedinothercomprehensiveincome,mainlyincludingnotesreceivable,accountsreceivable,otherreceivables,debtinvestment,otherdebtinvestment,long-termreceivables,etc.Inaddition,forsomefinancialguaranteecontracts,impairmentreservesandcreditimpairmentlossesarealsoaccruedinaccordancewiththeaccountingpoliciesdescribedinthispart.
(1)RecognitionmethodofimpairmentprovisionOnthebasisofexpectedcreditlosses,theCompanysetsasideimpairmentreservesandrecognizescreditimpairmentlossesfortheaboveitemsaccordingtotheapplicableexpectedcreditlossmeasurementmethod(generalmethodorsimplifiedmethod).CreditlossreferstothedifferencebetweenallcontractualcashflowsreceivableaccordingtothecontractandallcashflowsexpectedtobecollectedbytheCompanydiscountedaccordingtotheoriginalactualinterestrate,i.e.thepresentvalueofallcashshortages.Amongthem,forthefinancialassetsthathavebeenpurchasedorincurredcreditimpairment,theCompanydiscountsthemaccordingtotheactualinterestrateadjustedbycredit.ThegeneralmethodofmeasuringexpectedcreditlossreferstotheCompany'sassessmentofwhetherthecreditriskoffinancialassetshasincreasedsignificantlysincetheinitialrecognitiononeachbalancesheetdate.Ifthecreditriskhasincreasedsignificantlysincetheinitialrecognition,theCompanywillmeasurethelossreservebyanamountequivalenttotheexpectedcreditlossduringtheentireperiod.Ifthecreditriskhasnotincreasedsignificantlysincetheinitialrecognition,theCompanywillmeasurethelossreserveaccordingtotheamountequivalenttotheexpectedcreditlossinthenext12months.Inassessingtheexpectedcreditloss,theCompanytakesintoaccountallreasonableandevidence-basedinformation,includingforward-lookinginformation.
Forfinancialinstrumentswithlowcreditriskonthebalancesheetdate,theCompanymeasuresthelossreservebasedontheexpectedcreditlossamountwithinthenext12monthsortheentiredurationaccordingtowhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition.
(2)Criteriaforjudgingwhethercreditriskhasincreasedsignificantlysinceinitialrecognition
Ifthedefaultprobabilityofacertainfinancialassetintheexpecteddurationdeterminedatthebalancesheetdateissignificantlyhigherthanthedefaultprobabilityintheexpecteddurationdeterminedatthetimeofinitialrecognition,itindicatesthatthecreditriskofthefinancialassetissignificantlyincreased.Exceptforspecialcircumstances,theCompanyusesthechangeofdefaultriskinthenext12monthsasareasonableestimateofthechangeofdefaultriskintheentiredurationtodeterminewhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition.Generally,iftheoverdueperiodismorethan90days,theCompanywillconsiderthatthecreditriskofthefinancialinstrumenthasincreasedsignificantly,unlessthereisconclusiveevidencethatthecreditriskofthefinancialinstrumenthasnotincreasedsignificantlysincetheinitialrecognition.
TheCompanywillconsiderthefollowingfactorswhenevaluatingwhetherthecreditriskhasincreasedsignificantly
1)Whetherthereisanysignificantchangeintheactualorexpectedoperatingresultsofthedebtor;
2)Whetherthereisanysignificantadversechangeintheregulatory,economicortechnologicalenvironmentofthedebtor;
3)Whetherthereisanysignificantchangeinthevalueofthecollateralorthequalityoftheguaranteeorcreditenhancementprovidedbythethirdparty,whichareexpectedtoreducetheeconomicmotivationofthedebtor'srepaymentaccordingtothetimelimitstipulatedinthecontractoraffecttheprobabilityofdefault;
4)Whetherthereisanysignificantchangeintheexpectedperformanceandrepaymentbehaviorofthedebtor;
5)WhetherthereisanysignificantchangeintheCompany'screditmanagementmethodsforfinancialinstruments,etc.
Onthebalancesheetdate,iftheCompanyjudgesthatthefinancialinstrumenthasonlylowcreditrisk,theCompanyassumesthatthecreditriskofthefinancialinstrumenthasnotincreasedsignificantlysincetheinitialrecognition.Ifthedefaultriskofafinancialinstrumentislow,theborrower'sabilitytoperformitscontractualcashflowobligationsinashortperiodoftimeisstrong,andevenifthereareadversechangesintheeconomicsituationandoperatingenvironmentforalongperiodoftime,itmaynotnecessarilyreducetheborrower'sabilitytoperformitscontractualcashobligations,thenthefinancialinstrumentisconsideredtohavelowcreditrisk.
(3)Judgmentcriteriaforfinancialassetswithcreditimpairment:
Whenoneormoreeventshaveanadverseimpactontheexpectedfuturecashflowofafinancialasset,thefinancialassetbecomesafinancialassetwithcreditimpairment.Theevidenceofcreditimpairmentoffinancialassetsincludesthefollowingobservableinformation:
1)Theissuerordebtorhasmajorfinancialdifficulties;
2)Thedebtorviolatesthecontract,suchasdefaultoroverduepaymentofinterestorprincipal,etc.;
3)Thecreditorgivesconcessionsthatthedebtorwillnotmakeunderanyothercircumstancesdueto
economicorcontractualconsiderationsrelatedtothedebtor'sfinancialdifficulties;
4)Thedebtorislikelytogobankruptorundergootherfinancialrestructuring;
5)Theactivemarketofthefinancialassetsdisappearsduetothefinancialdifficultiesoftheissuerorthedebtor;
6)Purchaseorgenerateafinancialassetatasubstantialdiscount,whichreflectsthefactthatcreditlosseshaveoccurred.
Creditimpairmentoffinancialassetsmaybecausedbythecombinedactionofmultipleevents,butmaynotbecausedbyseparatelyidentifiableevents.
(4)Portfolioapproachtoevaluateexpectedcreditriskbasedonportfolio
TheCompanyevaluatescreditrisksforfinancialassetswithsignificantlydifferentcreditrisks,suchas:
Accountsreceivablewithrelatedparties.Receivablesindisputewiththeotherpartyorinvolvinglitigationorarbitration.Receivableswithobvioussignsthatthedebtorislikelytobeunabletoperformtherepaymentobligation.
Inadditiontothefinancialassetswithindividualcreditriskassessment,theCompanydividesthefinancialassetsintodifferentgroupsbasedonthecommonriskcharacteristics.ThecommoncreditriskcharacteristicsadoptedbytheCompanyinclude:Creditriskshallbeassessedonthebasisoftheagingportfolio,thereceivablesportfoliobetweenthefinalcontrollingpartyanditssubordinateunits,thepublicmaintenancefundandhousesellingfundportfoliodepositedinthehousingprovidentfundmanagementcenter,thedeposit/marginportfolio,andthepettycashledgerportfolioformedbytheemployeeloanoftheunit.
(5)Accountingtreatmentmethodforimpairmentoffinancialassets
Attheendoftheperiod,theCompanycalculatestheestimatedcreditlossesofvariousfinancialassets.Iftheestimatedcreditlossesaregreaterthanthebookamountofitscurrentimpairmentreserve,thedifferenceisrecognizedasimpairmentloss.Ifitislessthanthecarryingamountofthecurrentimpairmentreserve,thedifferenceisrecognizedasimpairmentgain.
(6)Methodsfordeterminingthecreditlossofvariousfinancialassets
①Notesreceivable
TheCompanymeasuresthelossreserveforbillsreceivableaccordingtotheexpectedcreditlossamountequivalenttotheentireduration.Basedonthecreditriskcharacteristicsofbillsreceivable,theyaredividedintodifferentportfolios:
| Item | Basisfordeterminingportfolio |
| Bankacceptancebills | Theacceptorisabankwithlesscreditrisk |
| Commercialacceptancebill | Accordingtotheacceptor'screditriskclassification,itshouldbethesameasthe"receivable"portfolioclassification. |
Asforthenotesreceivables’classifiedasportfolio,theCompanyreferredtothehistoricalcreditloss
experience,combinedwithcurrentsituationandforecastforthefutureeconomiccondition,calculatingtheexpectedcreditloss.Throughriskexposureatdefaultandlifetimeexpectedcreditloss.
②AccountsreceivableandotherreceivablesForreceivablesthatdonotcontainsignificantfinancingcomponents,theCompanymeasuresthelossreserveaccordingtotheexpectedcreditlossamountequivalenttotheentireduration.Forreceivablesthatcontainsignificantfinancingcomponents,theCompanymeasuresthelossreservebasedonwhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition,usingtheamountofexpectedcreditlosswithinthenext12monthsortheentireduration.
Accordingtowhetherthecreditriskofotherreceivableshasincreasedsignificantlysincetheinitialrecognition,theCompanymeasuresimpairmentlosswithanamountequivalenttotheexpectedcreditlosswithinthenext12monthsortheentireduration.Inadditiontotheaccountsreceivableandotherreceivablesthatindividuallyassesscreditrisk,theyaredividedintodifferentportfoliosbasedontheircreditriskcharacteristics:
| Item | Basisfordeterminingportfolio |
| Portfolio1 | Creditportfolio |
Asforthereceivablesclassifiedasportfolio,theCompanyreferredtothehistoricalcreditlossexperience,combinedwithcurrentsituationandforecastforthefutureeconomiccondition,calculatingtheexpectedcreditloss.Throughcrossreferencetablebetweentheagingofreceivablesandlifetimeexpectedcreditloss.Theagingofreceivablesiscalculatedonthedateofrecognition.
Theportfolioofotherreceivableisrecognizedasfollows:
| Item | Basisfordeterminingportfolio |
| Portfolio1 | Creditportfolio |
| Portfolio2 | Deposit/marginportfolio |
| Portfolio3 | TheportfolioofreservefundledgerformedbytheCompany'sstaffloan |
Asfortheotherreceivablesclassifiedasportfolio,theCompanyreferredtothehistoricalcreditlossexperience,combinedwithcurrentsituationandforecastforthefutureeconomiccondition,calculatingtheexpectedcreditloss.Throughriskexposureatdefaultandlifetimeexpectedcreditlossinthecoming12months.Fortheotherreceivablesclassifiedasaging,iscalculatedonthedateofrecognition.
13.Inventory
(1)Classificationofinventory
Inventoriesmainlyincluderawmaterials,revolvingmaterials,inventorygoods,andmaterialsintransit,etc..
(2)Valuationmethodforobtainingandissuinginventory
Inventoriesareinitiallymeasuredatcost.Inventorycostsincludepurchasecosts,processingcostsandother
expenditures.Theactualcostofinventoriesupondeliveryiscalculatedusingtheweightedaveragemethod.
(3)ConfirmationofnetrealizablevalueofinventoriesandmethodofaccrualoffallingpricereserveNetRealizableValuereferstotheamountofestimatedsellingpriceofinventoriesminustheestimatedcosttillcompletion,estimatedexpensesforsellingactivityandrelatedtaxesandfeesindailyactivities.Whendeterminingthenetrealizablevalueofinventories,solidevidenceobtainedshallbethebasis,andthepurposeofholdingtheinventoriesandtheimpactofeventsafterthebalancesheetdateshallbeconsidered.
Onthebalancesheetdate,inventoriesshallbemeasuredatlowerofcostandnetrealizablevalue.Whenthenetrealizablevalueislowerthanthecost,theprovisionforinventorydevaluationshallbeaccrued.Theprovisionforinventorydevaluationshallbeaccruedbasedonthedifferencebetweenthecostofasingleinventoryitemanditsnetrealizablevalue.Theprovisionforinventorydevaluationofalargenumberofinventorieswithlowunitpricesshallbebasedonthetypeofinventory;forinventoriesrelatedtotheproductrangeproducedandsoldinsameregion,havingthesameorsimilarenduseorpurpose,anddifficulttobeseparatedfromotheritemsformeasurement,theirprovisionforinventorydevaluationcanbecombinedandaccrued.
Aftertheprovisionforinventorydevaluationisaccrued,ifthefactorscausethepreviouswritten-downinventoryvaluehavedisappeared,andthesituationresultsinthefactthatthenetrealizablevalueoftheinventorieshigherthanthebookvalue,theamountoftheprovisionforinventorydevaluationthathasbeenaccruedshallbereversedandincludedinthecurrentperiodprofitorloss.
(4)TheCompanyadoptsperpetualinventorysystemasitsinventorysystem.
(5)Amortizationmethodoflow-valueconsumablesandpackagingmaterials
Low-valueconsumablesareamortizedbyone-offamortizationmethodwhentheyarereceived;packagingmaterialsareamortizedbyone-offamortizationmethodwhentheyarereceived.
14.Held-for-saleassetsanddisposalgroup
(1)RecognitionstandardsandaccountingmethodtreatmentforHeld-for-saleassetsanddisposalgroup
Anon-currentassetordisposalgroupisclassifiedasheldforsalewhenitscarryingamountwillberecoveredprincipallythroughasaletransactionratherthanthroughcontinuoususe.Thefollowingconditionsneedtobesimultaneouslymettobeclassifiedasheldforsale:anon-currentassetorto-be-disposedportfoliocanbesoldimmediatelyunderthecurrentconditionsbasedonthepracticeofsellingsuchassetorto-be-disposedportfolioinsimilartransactions;theCompanyhasalreadydecidedonthesaleplanandobtainedconfirmedpurchasecommitment;thesaleisscheduledtobecompletedwithinoneyear.Amongthem,aDisposalPortfolioreferstoagroupofassetsthatwillbedisposedofasawholethroughsaleorotherapproachesinatransaction,andtheliabilitiesdirectlyassociatedwiththeseassetstransferredalongwiththeassetsintransaction.IftheportfolioofassetsorgroupofportfoliosofassetsisallocatedgoodwillacquiredinbusinessmergerinaccordancewithAccountingStandardsforBusinessEnterprisesNo.8-AssetImpairment,theDisposalPortfolioshallincludethegoodwillallocatedtoit.
Intheeventthatthebookvalueofanon-currentassetorto-be-disposedportfoliothathasbeendesignatedas
held-for-salecategoryishigherthanthenetamountoffairvaluelesssalesexpenseswhenthenon-currentassetorto-be-disposedportfolioisinitiallymeasuredormeasuredonthebalancesheetdate,thebookvalueshallbetothenetamountoffairvalueminussalesexpenses,andthewritten-downamountshallberecognizedasassetimpairmentlossandincludedincurrentperiodprofitorloss.Theprovisionforimpairmentlossoftheheld-for-saleassetshallbeaccrued.ForaDisposalPortfolio,theconfirmedimpairmentlossshalldeductthebookvalueofthegoodwillintheDisposalPortfolio,thendeductthebookvalueofthenon-currentassetsdeterminedbythemeasurementonapro-ratabasisinaccordancewiththeapplicableAccountingStandardsforBusinessEnterprisesNo.42held-for-salenon-currentassets,DisposalPortfolioandTerminationofOperations(hereinafterreferredtoasthe“GuideforHeld-For-Sale”).Intheeventofanincreaseofthebookvalueoftheheld-for-saleDisposalPortfoliominussalesexpensesonthesubsequentthebalancesheetdate,theamountpreviouslywrittendownshallberecoveredandbereversedwithinthemountoftheassetimpairmentlossrecognizedinthenon-currentassetsmeasuredbythemeasurement“GuideforHeld-For-Sale”afterbeingclassifiedasheldforsaleasset,thereversalamountshallbeincludedinthecurrentperiodprofitorloss,andthebookvalueofallnon-currentassets(exceptforgoodwill)determinedbythemeasurementonapro-ratabasisinaccordancewiththeapplicable“GuideforHeld-For-Sale”shallbeincreasedonapro-ratabasis.Thebookvalueofthegoodwillthathasbeendeductedandtheimpairmentlossoftheassetsrecognizedbeforetheclassificationoftheheld-for-salenon-currentassetsinaccordancewiththeapplicable“GuideforHeld-For-Sale”shallnotbereversed.
Intermsoftheheld-for-salenon-currentassetsornon-currentassetsinDisposalPortfolio,thereisnoaccrualoramortizationfordepreciation,andtheinterestfromandotherexpensesfromtheliabilitiesinheld-for-saleDisposalPortfolioshallstillberecognized.
Whenanon-currentassetorDisposalPortfolionolongermeetstheconditionsforHeld-For-Salecategory,non-currentassetorDisposalPortfoliowillnolongerbeclassifiedasHeld-For-SalecategorybytheCompanyorthenon-currentassetwillberemovedfromtheHeld-For-SaleDisposalPortfolio,andbemeasuredbasedononeofthefollowingtwovalues,whicheverislower:(1)Thebookvaluebeforebeingclassifiedasheld-for-salecategoryadjustedbasedonthedepreciation,amortizationorimpairmentthatshouldhavebeconfirmedifitisnotclassifiedasheld-for-salecategory;(2)recoverableamount.
(2)StandardsforDeterminingandMethodsforthePresentationofDiscontinuedOperations.
Acomponentofanentitythateitherhasbeendisposedoforisclassifiedasheldforsaleand:
a)representsaseparatemajorlineofbusinessorgeographicalareaofoperations,
b)ispartofasinglecoordinatedplantodisposeofaseparatemajorlineofbusinessorgeographicalareaofoperationsor
c)isasubsidiaryacquiredexclusivelywithaviewtoresale.
NetprofitfromcontinuingoperationandNetprofitfromdiscontinuedOperationareaddedundertheItemNetProfitoftheProfitandLossStatement,asingleamountinthestatementofcomprehensiveincomecomprisingthetotalof:i)thepost-taxprofitorlossofcontinuingoperationanddiscontinuedoperations.ProfitandLossfrom
thediscontinuedoperationshalllistedasDiscontinuedOperationProfitandLoss,whichcomprisesoftheentirereportingperiod,notonlyrecognizedasthereportingperiodaftertheterminationoftheoperation.
15.Long-termequityinvestmentThelong-termequityinvestmentreferstointhispartreferstothelong-termequityinvestmentthattheCompanyhascontrol,jointcontrolorsignificantinfluenceontheinvestedentity.Thelong-termequityinvestmentoftheCompanythatdoesnothavecontrol,jointcontrolorsignificantimpactontheinvesteeshallbeaccountedasafinancialassetmeasuredatfairvaluewithitschangesincludedintothecurrentprofitsandlosses.Amongthem,ifitisnon-transactional,theCompanymaychoosetodesignateitasafinancialassetmeasuredatfairvalueanditschangesareincludedintheaccountingofothercomprehensiveincomeatthetimeofinitialrecognition.Fordetailsofitsaccountingpolicies,pleaserefertoNoteⅢ,11“FinancialInstruments".JointcontrolreferstothecontrolthattheCompanyshareswithotherparty/partiesforanarrangementinaccordancewithrelevantagreements,andrelevantactivitiesofthearrangementcanonlybedecidedbasedontheconsensusofallpartiessharingthecontrolrightsbeforemakingadecision.SignificantInfluencereferstopoweroftheCompanytoparticipateinthedecision-makingofthefinancialandoperatingpoliciesoftheinvestee,buttheCompanycannotcontrolorjointlycontrolthedevelopmentofthesepolicieswithotherparties.
(1)DeterminationofinvestmentcostForalong-termequityinvestmentobtainedfromacombinationofbusinessesunderthesamecontrol,theapportionedshareofthebookvalueinthefinalcontroller'sconsolidatedfinancialstatementsonthecombinationdateinaccordancewiththeshareholders'equityshallbetheinitialinvestmentcostofthelong-termequityinvestment.Thecapitalreserveshallbeadjustedsubjecttothedifferencebetweentheinitialinvestmentcostofthelong-termequityinvestmentandthecashpaid,thenon-cashassetstransferred,andthebookvalueofthedebtsassumed;ifthecapitalreserveisinsufficientforoffsetting,theretainedearningsshallbeadjusted.Wheretheequitysecuritiesareissuedasmergerconsideration,theapportionedshareofthebookvalueinthefinalcontroller'sconsolidatedfinancialstatementsonthecombinationdateinaccordancewiththeshareholders'equityshallbetheinitialinvestmentcostofthelong-termequityinvestment,andthetotalparvalueoftheissuedsharesistakenasthesharecapital.Thecapitalreserveshallbeadjustedsubjecttothedifferencebetweentheinitialinvestmentcostofthelong-termequityinvestmentandthetotalparvalueofthesharesissued;ifthecapitalreserveisinsufficientforoffsetting,theretainedearningsshallbeadjusted.Wheretheequityofcombinedpartiesunderthesamecontrolisobtainedthroughmultipletransactionsandabusinesscombinationunderthesamecontrolisformedfinally,itshallbetreateddifferentiallybasedonwhetheritisa“packagedeal”:ifitbelongstoa“packagedeal”,alltransactionswillbetreatedasatransactionthatobtainscontrol.Ifitisnota“packagedeal”,theapportionedshareofthebookvalueinthefinalcontroller'sconsolidatedfinancialstatementsonthecombinationdateinaccordancewiththeshareholders'equityshallbetheinitialinvestmentcostofthelong-termequityinvestment.Thecapitalreserveshallbeadjustedsubjecttothedifferencebetweentheinitialinvestmentcostofthelong-termequityinvestmentandthesumofthebookvalueoflong-termequityinvestmentbeforecombinationdateandthebookvalueofthenewconsiderationforthenewshareonthecombinationdate.Ifthecapitalreserveisinsufficientforoffsetting,theretainedearningsshallbeadjusted.Theequityinvestmentsthatare
heldpriortothecombinationdateandarerecognizedwithequityrecognizedorasavailable-for-salefinancialassetasothercomprehensiveincomewillnotbegivenaccountingtreatmentforthemoment.Foralong-termequityinvestmentobtainedfromacombinationofbusinessesnotunderthesamecontrol,theinitialinvestmentcostofthelong-termequityinvestmentshallbebasedonthecombinationcostonthepurchasedate.Thecombinationcostincludestheassetspaidbypurchaser,theliabilitiesincurredorassumed,andthesumofthefairvalueofissuedequitysecurities.Wheretheequityofcombinedpartiesnotunderthesamecontrolisobtainedthroughmultipletransactionsandabusinesscombinationunderthesamecontrolisformedfinally,itshallbetreateddifferentiallybasedonwhetheritisa“packagedeal”:ifitbelongstoa“packagedeal”,alltransactionswillbetreatedasatransactionthatobtainscontrol.Ifitisnota“packagedeal”,theinitialinvestmentcostofthelong-termequityinvestmentcalculatedbythecostmethodshallbecalculatedbasedonthesumofthebookvalueoftheequityinvestmentintheoriginalholderandthenewinvestmentcost.Theoriginalshareholdingthatmeasuredusingequitymethod,therelevantothercomprehensiveincomedoestemporarilynotconductaccountingtreatment.Intermediaryexpensessuchasforauditing,legalservices,assessmentandotherrelatedexpensesincurredbyacombiningpartyorapurchaserforbusinesscombinationshallberecognizedincurrentperiodprofitorlosswhenincurred.Theequityinvestmentsotherthanformedbybusinesscombinationshallbeinitiallymeasuredatcost.Thecostwillbedeterminedbasedonthefollowingamountaccordingtodifferentmethodsoftheacquisitionoflong-termequityinvestment:thepurchasepriceincashactuallypaidbytheCompany;thefairvalueoftheequitysecuritiesissuedbytheCompany,thevalueagreedinrelevantinvestmentcontractoragreement;thefairvalueororiginalbookvalueoftheassetsexchangedinnon-monetaryassetexchangetransaction;thefairvalueofthelong-termequityinvestmentitself.Anyexpenses,taxesandothernecessaryexpensesdirectlyrelatedtotheacquisitionoflong-termequityinvestmentsshallalsobeincludedinthecostofinvestment.Thecostoflong-termequityinvestmentfortheadditionalinvestmentthatcanexertsignificantinfluenceoninvesteeorimplementjointcontrolbutdoesnotconstitutecontrolshallbethesumofthefairvalueoftheoriginallyheldequityinvestmentrecognizedinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo..22–RecognitionandMeasurementofFinancialInstrumentsandthecostfornewinvestment.
(2)Follow-upmeasurementandconfirmationmethodsforprofitandlossTheEquityMethodshallbeusedtoaccountforlong-termequityinvestmentsthathavejointcontrolovertheinvestedentity(exceptforthoseconstitutingjointoperators)orhavesignificantimpactontheinvestedentity.Inaddition,thecompany'sfinancialstatementsusetheCostMethodtoaccountforlong-termequityinvestments,whichcancontrolthelong-termequityinvestmentoftheinvestee.
①Long-termequityinvestmentbasedonCostMethodWhenaccountingwithCostMethod,long-termequityinvestmentispricedattheinitialinvestmentcost,andthecostofthelong-termequityinvestmentisadjustedbyaddingorrecoveringtheinvestment.Exceptfortheactualpaymentatthetimeofobtaininginvestmentorthecashdividendsorprofitsincludedintheconsideration
butnotyetissued,thecurrentinvestmentincomeshallberecognizedaccordingtothecashdividendsorprofitsdeclaredbytheinvestee.
②Long-termequityinvestmentaccountedforbyEquityMethodWhenaccountingwithEquityMethod,iftheinitialinvestmentcostofalong-termequityinvestmentisgreaterthanthefairvalueshareoftheidentifiablenetassetsoftheinvesteewheninvesting,andtheinitialinvestmentcostofthelong-termequityinvestmentshallnotbeadjusted;iftheinitialinvestmentcostislessthanthefairvalueshareoftheidentifiablenetassetsoftheinvesteewheninvesting,thedifferenceshallbeincludedinthecurrentprofitandloss,andthecostofthelong-termequityinvestmentshallbeadjustedWhenaccountingwithEquityMethod,theinvestmentincomeandothercomprehensiveincomearerecognizedseparatelyaccordingtothesharesofthenetprofitorlossandothercomprehensiveincomethatshouldbeenjoyedorshared,andthebookvalueofthelong-termequityinvestmentshouldbeadjustedatthesametime.Thebookvalueoflong-termequityinvestmentisreducedaccordinglybycalculatingthesharethatshouldbeenjoyedaccordingtotheprofitorcashdividenddeclaredbytheinvestee.Thebookvalueoflong-termequityinvestmentshallbeadjustedandincludedinthecapitalreserveforotherchangesintheowner'srightsandinterestsoftheinvestedentityotherthanthenetprofitandloss,othercomprehensiveincomeandprofitdistribution.Whenconfirmingtheshareofthenetprofitandlossoftheinvestee,thenetprofitoftheinvesteeshallbeadjustedandconfirmedonthebasisofthefairvalueoftheidentifiableassetsoftheinvesteeatthetimeofinvestment.IftheaccountingpoliciesandperiodsadoptedbytheinvestedentityareinconsistentwiththeCompany,thefinancialstatementsoftheinvestedentityshallbeadjustedinaccordancewiththeaccountingpoliciesandperiodsoftheCompany,andtheinvestmentincomeandothercomprehensiveincomeshallbeconfirmedaccordingly.ForthetransactionsbetweentheCompanyandtheassociatesandjointventures,theassetsinvestedorsolddonotconstituteabusiness,andtheunrealizedgainsandlossesfrominternaltransactionsareoffsetagainsttheportionoftheCompanythatisattributabletotheproportionoftheshares,onthisbasis.investmentprofitandlossshouldbeconfirmed.However,theunrealizedinternaltransactionlossesincurredbytheCompanyandtheinvesteearenotincludedintheimpairmentlossesofthetransferredassets.WheretheassetsinvestedbytheCompanyintoajointventureoranassociatesconstituteabusiness,iftheinvestorobtainslong-termequityinvestmentbutdoesnotcontrol,thefairvalueoftheinvestedbusinessshallbedeemedastheinitialinvestmentcostofthenewlong-termequityinvestment,andthedifferencebetweentheinitialinvestmentcostandthebookvalueoftheinvestedbusinessisfullyrecognizedinthecurrentprofitsandlosses.IftheassetssoldbytheCompanytoajointventureoranassociatethatconstituteabusiness,thedifferencebetweentheconsiderationvalueobtainedandthebookvalueofthebusinessshallbefullyrecognizedintheprofitsandlossesofthecurrentperiod.
Whenconfirmingthenetlossthatincurredbytheinvesteeshouldbeshared,thebookvalueofthelong-termequityinvestmentandotherlong-termequitythatsubstantiallyconstitutesthenetinvestmentoftheinvesteearereducedtozero.Inaddition,iftheCompanyhasanobligationtobearadditionallossestotheinvestee,theestimatedliabilitiesshallberecognizedaccordingtotheestimatedobligationsandincludedinthecurrentinvestmentlosses.Iftheinvesteeachievesnetprofitinthefollowingperiod,theCompanyshallresume
recognizingtheshareofincomeaftermakingupfortheunrecognizedshareofloss.Forthelong-termequityinvestmentinthejointventuresandassociatesheldbytheCompanyforthefirsttimebeforetheimplementationofthenewaccountingstandards,ifthereisadebitbalanceofequityinvestmentsrelatedtotheinvestment,thecurrentprofitsandlossesshallbeaccountedforbythestraight-lineamortizationoftheoriginalremainingperiod.
(3)AcquisitionofMinorityEquityInthepreparationoftheconsolidatedfinancialstatements,ifthedifferencebetweenthelong-termequityinvestmentaddedbypurchasingminoritysharesandthenetassetssharethatshouldbecontinuouslycalculatedbythesubsidiarycompanyfromthepurchasedate(ortheconsolidationdate)iscalculatedaccordingtotheproportionofnewlyaddedshares,theretainedearningsshallbeadjusted;andifthecapitalreserveisinsufficienttooffset,theretainedearningsshallbeadjusted.
(4)Disposaloflong-termequityinvestmentIntheconsolidatedfinancialstatements,theparentcompanypartiallyofdisposesofthelong-termequityinvestmentofthesubsidiarywithoutlosingcontrol,thedifferenceofthecorrespondingnetassetsinthesubsidiarybetweenthedisposalpriceandthedisposalofthelong-termequityinvestmentisincludedintheshareholders'equity.itshallbetreatedinaccordancewiththerelevantaccountingpoliciesdescribedin“Notesonthepreparationofconsolidatedfinancialstatements”inNoteⅢ.7.
Forthedisposaloflong-termequityinvestmentinothercases,thedifferencebetweenthebookvalueofthedisposedequityandtheactualacquisitionpriceshallbeincludedinthecurrentprofitsandlosses.Ifthelong-termequityinvestmentisaccountedforbyequitymethod,theremainingequityafterdisposalisstillaccountedforbyequitymethod,whendisposing,theothercomprehensiveincomewhichwereoriginallyincludedinshareholder'srightsandinterestsshallbeaccountedforonthesamebasisastheassetsorliabilitiesdirectlydisposedofbytheinvestee.Theowner'sequityrecognizedasaresultofchangesintheowner'sequityoftheinvesteeotherthannetprofitorloss,othercomprehensiveincomeandprofitdistribution,itshouldbecarriedforwardtothecurrentprofitandloss
Forthelong-termequityinvestmentaccountedbyCostMethod,theremainingequityisstillaccountedbyCostMethodafterdisposal,othercomprehensiveincomethatrecognizedbyequitymethodaccountingorfinancialinstrumentrecognitionandmeasurementcriteriaaccountingbeforeobtainingcontrolovertheinvesteeshallbeaccountedforonthesamebasisastheassetsorliabilitiesdirectlydisposedofbytheinvestee,andshallbesettledtothecurrentprofitandlossinproportion.Changesofthenetassetsofinvesteeintheowner'sequityotherthannetprofitorloss,othercomprehensiveincomeandprofitdistribution'sthatrecognizedbyequitymethodshallbesettledtothecurrentprofitandlossinproportion.
WheretheCompanylosescontrolovertheinvesteeduetodisposalofpartofitsequityinvestment,whenpreparingindividualfinancialstatements,iftheremainingequityafterdisposalcanexercisejointcontrolorexertsignificantinfluenceontheinvestee,itshallbeaccountedforbyequitymethodinstead,andtheremainingequity
shallbeadjustedbyaccountingbyequitymethodwhenitisdeemedtobeacquired.Iftheremainingequityafterdisposalcannotbejointlycontrolledorexertssignificantinfluenceontheinvestee,itshallbeaccountedforaccordingtotherelevantprovisionsofthefinancialinstrumentrecognitionandmeasurementcriteria,andthedifferencebetweenthefairvalueandthebookvalueonthedateoflossofcontrol.Itisincludedinthecurrentprofitandloss.BeforetheCompanyobtainscontrolovertheinvestee,othercomprehensiveincomerecognizedbyequitymethodaccountingorfinancialinstrumentrecognitionandmeasurementcriteriaisusedtodirectlydisposeoftherelevantassetswiththeinvestee,accountingtreatmentbasedonthesamebasisastheinvesteedirectlydisposesofrelatedassetsorliabilitieswhenthecontroloftheinvesteeislost,Accountingistreatedonthesamebasisastheliabilities.Changesintheowner'sequityotherthannetprofitorloss,othercomprehensiveincomeandprofitdistributionoftheinvestee'snetassetsrecognizedbytheequitymethodarecarriedforwardtothecurrentprofitorlosswhenthecontroloftheinvesteeislost.Amongthem,theremainingequityafterdisposalisaccountedforusingtheequitymethod.Wheretheremainingequityafterdisposalisaccountedforbyequitymethod,othercomprehensiveincomeandotherowner'sequityshouldbesettledbyproportion.Iftheremainingequityisaccountedforusingfinancialinstrumentrecognitionandmeasurementstandard,allofothercomprehensiveincomeandothershareholder’sequityshouldbesettled.
IftheCompanylosesitsjointcontrolorsignificantinfluenceontheinvesteeduetothedisposalofpartoftheequityinvestment,theremainingequityafterdisposalshallbeaccountedforaccordingtothefinancialinstrumentrecognitionandmeasurementcriteria,andthedifferencebetweenthefairvalueandthebookvalueonthedateoflossofjointcontrolorsignificantinfluenceisrecognizedinthecurrentprofitorloss.Theothercomprehensiveincomerecognizedintheoriginalequityinvestmentbytheequitymethodisaccountedforonthesamebasisastheinvestee'sdirectdisposalofrelatedassetsorliabilitieswhentheequitymethodisterminated,Owner'sequityrecognizedasaresultofchangesinotherowners'equityotherthannetprofitorloss,othercomprehensiveincomeandprofitdistributionoftheinvesteeshouldbetransferredtocurrentinvestmentincomewhenterminatingtheequitymethodTheCompanydisposesoftheequityinvestmentinthesubsidiariesstepbystepthroughmultipletransactionsuntilthelossofcontrol.Iftheabove-mentionedtransactionsarepartofapackagetransaction,thetransactionsaretreatedasatransactiondealingwiththeequityinvestmentofthesubsidiaryandlosingcontrol.Thedifferencebetweenthebookvalueofeachlong-termequityinvestmentcorrespondingtothedisposalpriceandthedisposaloftheequitybeforelossofcontrolisfirstrecognizedasothercomprehensiveincome,andwhenthecontrolislost,itistransferredtothecurrentprofitandlossoflossofcontrol.
16.InvestmentProperty
InvestmentPropertyreferstopropertyheldforthepurposeofearningrentorcapitalappreciation,orboth,includinglanduserightsthathavebeenleased,landuserightsthatareheldandpreparedfortransferafterappreciation,andbuildingsthathavebeenrented.Investmentpropertyisinitiallymeasuredatcost.Theexpensesrelatedtoinvestmentproperty,iftheeconomicbenefitsrelatedtothisassetarehighlyprobabletoflowintothecompanyandthecostcanbemeasuredreliably,thentheexpensewillaccountforasthecostofinvestmentproperty.Otherexpensesareaccountedforinprofitandlosswhenincurred.
TheCompanyadoptsthecostmodeltoconductsubsequentmeasurementofinvestmentpropertyanddepreciationoramortizationaccordingtothepolicyconsistentwiththebuildingorlanduserights.Fordetailsoftheimpairmenttestmethodandimpairmentprovisionmethodofproperty,pleaserefertoNoteⅢ.23“Long-TermAssetImpairment”.Whentheself-usepropertyorinventoryisconvertedintoinvestmentpropertyorinvestmentpropertyisconvertedintoself-useproperty,thebookvaluebeforeconversionisusedastherecordedvalueafterconversion.
Whentheuseofinvestmentpropertyischangedtoself-use,theinvestmentpropertyisconvertedintofixedassetsorintangibleassetsfromthedateofchange.Whentheuseofself-usepropertychangestoearnrentorcapitalappreciation,thefixedassetsorintangibleassetsareconvertedintoinvestmentpropertyfromthedateofchange.Inthecaseofinvestmentpropertymeasuredbythecostmodelwhentheconversionoccurs,thebookvaluebeforeconversionisusedastheentryvalueafterconversion;ifitisconvertedintoinvestmentpropertymeasuredbythefairvaluemodel,thefairvalueoftheconversiondateisusedastheentryvalueafterconversion.
Whenaninvestmentrealestateisdisposedof,orpermanentlywithdrawnfromuseandisnotexpectedtoobtaineconomicbenefitsfromitsdisposal,theconfirmationoftheinvestmentrealestateshallbeterminated.Disposalincomefromthesale,transfer,retirementordamageofinvestmentpropertiesischargedtothecurrentprofitandlossafterdeductingitsbookvalueandrelatedtaxesandfees.
17.FixedAssets
(1)Confirmationconditionsforfixedassets
FixedAssetsrefertotangibleassetsheldforthepurposeofproducinggoods,providinglaborservices,rentingoroperatingmanagement,andhavingaservicelifeofmorethanonefiscalyear.FixedassetsarerecognizedonlywhentheeconomicbenefitsassociatedwiththemarelikelytoflowintotheCompanyandtheircostscanbereliablymeasured.Fixedassetsareinitiallymeasuredatcostandtakingintoaccounttheimpactofprojectedabandonmentcosts.
(2)Depreciationmethodsforvarioustypesoffixedassets
Fixedassetsaredepreciatedovertheirusefullivesusingthestraight-linemethodfromthemonthfollowingthescheduledavailability.Thedepreciationperiod,estimatednetresidualvaluerateandannualdepreciationrateofeachcategoryoffixedassetsareasfollows:
| Category | DepreciationMethod | Depreciationperiod(Year) | Netsalvagerate(%) | Annualdepreciationrate(%) |
| Buildings | straight-linedepreciation | 8-50 | 5 | 1.90—11.88 |
| Machineryequipment | straight-linedepreciation | 5-28 | 4、5 | 3.39—19.20 |
| Transportfacility | straight-linedepreciation | 5-10 | 4、5 | 9.50—19.20 |
| Electronicequipment | straight-linedepreciation | 3-10 | 4、5 | 9.50—32.00 |
| Officeequipment | straight-linedepreciation | 3-10 | 4、5 | 9.50—32.00 |
| Otherequipment | straight-linedepreciation | 5-28 | 4、5 | 3.39—19.20 |
Theestimatednetresidualvaluereferstotheexpectedstateaftertheestimatedusefullifeofthefixedassetshasexpiredandisattheendofitsusefullife.TheamountcurrentlyobtainedbytheCompanyfromthedisposaloftheassetsafterdeductingtheestimateddisposalexpenses.
(3)ImpairmenttestmethodandImpairmentprovisionmethodforfixedassets
FordetailsofImpairmenttestmethodandimpairmentprovisionmethodforfixedassets,pleaserefertoNoteⅢ.23“Long-TermAssetImpairment”.
(4)Recognitionbasisandvaluationmethodoffixedassetsacquiredbyfinancelease
Afinanceleaseisaleasethattransferssubstantiallyalltherisksandrewardsassociatedwithownershipofanasset,anditsownershipmayormaynotbetransferred.Ifitisreasonabletodeterminetheownershipoftheleasedassetattheexpirationoftheleaseterm,thedepreciationshallbecalculatedwithintheusefullifeoftheleasedasset;Ifitisnotreasonabletodeterminetheownershipoftheleasedassetattheexpirationoftheleaseterm,depreciationshallbecalculatedwithinarelativelyshortperiodoftheleasetermandtheservicelifeoftheleasedassets.
(5)Others
Thesubsequentexpensesrelatedtofixedassets,iftheeconomicbenefitsrelatedtothefixedassetsarelikelytoflowinandtheircostscanbereliablymeasured,areincludedinthecostoffixedassetsandthebookvalueofthereplacedpartshouldbeterminated.Thesubsequentexpendituresotherthanmentionedasabovearerecognizedinprofitorlossintheperiodinwhichtheyareincurred.
Thefixedassetisderecognizedwhenthefixedassetisindisposalorisnotexpectedtogenerateeconomicbenefitsbyusingordisposal.Thedifferencebetweenthedisposalincomefromthesale,transfer,retirementordamageofthefixedassetslessthecarryingamountandrelatedtaxesisrecognizedinprofitorlossforthecurrentperiod.
TheCompanyreviewstheusefullife,estimatednetresidualvalueanddepreciationmethodoffixedassetsatleastattheendoftheyear,andchangesasanaccountingestimateifchangesoccur.
18.Constructioninprogress
Thecostofconstructioninprogressisdeterminedbasedonactualprojectexpenditure,includingvariousprojectexpendituresincurredduringtheconstructionperiod,capitalizedborrowingcostsbeforetheprojectreachestheexpectedusablestatus,andotherrelatedexpenses.Constructioninprogressiscarriedforwardtofixedassetswhenitisreadyforitsintendeduse.
Fordetailsoftheimpairmenttestmethodandimpairmentprovisionmethodforconstructioninprogress,pleaserefertoNoteⅢ.23“Long-TermAssetImpairment”.
19.BorrowingCosts
Borrowingcostsincludeinterestonborrowings,amortizationofdiscountsorpremiums,ancillaryexpenses,andexchangedifferencesarisingfromforeigncurrencyborrowings.Borrowingcostsdirectlyattributabletothe
acquisition,constructionorproductionofassetseligibleforcapitalization,capitalizationisbegunwhenassetexpenditureshaveoccurred,borrowingcostshaveoccurred,andtheacquisition,constructionorproductionactivitiesnecessarytobringtheassetstotheintendedusableorsaleablestatehavebegun.Andcapitalizationisstoppedwhentheassetsunderconstructionorproductionthatmeetthecapitalizationconditionsarereadyfortheirintendeduseorsaleablestatus.Theremainingborrowingcostsarerecognizedasanexpenseintheperiodinwhichtheyareincurred.Theinterestexpensesactuallyincurredinthecurrentperiodofspecialborrowingsshallbecapitalizedaftersubtractingtheinterestincomefromtheunusedborrowingfundsdepositedintothebankortheinvestmentincomeobtainedfromthetemporaryinvestment.Forthegeneralborrowings,accordingtotheaccumulatedassetexpendituresexceedthespecialborrowings.Thecapitalizationamountisdeterminedbymultiplyingtheweightedaverageofwhichaccumulatedassetexpenditureexceedstheassetexpenditureofthespecialborrowingportionbythecapitalizationrateofthegeneralborrowingsused.Thecapitalizationrateisdeterminedbasedontheweightedaverageinterestrateofgeneralborrowings.
Duringthecapitalizationperiod,theexchangedifferencesofforeigncurrencyspecialborrowingsareallcapitalized;theexchangedifferencesofforeigncurrencygeneralborrowingsareincludedinthecurrentprofitandloss.Assetseligibleforcapitalizationrefertoassetssuchasfixedassets,investmentpropertyandinventoriesthatrequireasubstantialperiodofacquisition,constructionorproductionactivitiestoachievetheintendeduseorsalestatus.Iftheassetseligibleforcapitalizationareinterruptedabnormallyduringtheacquisition,constructionorproductionprocessandtheinterruptionperiodlastsformorethan3months,thecapitalizationoftheborrowingcostsshallbesuspendeduntiltheacquisition,constructionorproductionoftheassetsresumes.
20.Right-of-useassets
Right-of-useassetsoftheGroupmainlyconsistofbuildings,powergenerationandtransmissionequipment,plant,machineryandequipment,motorvehicles,furnitureandfixturesandothers.
(1)Initialaccountings
Atthecommencementdateofthelease,theGrouprecognizestherighttousetheleasedassetsduringtheleasetermasaright-of-useasset,including:theinitialmeasurementamountoftheleaseliability;theamountofleasepaymentpaidonorbeforethebeginningoftheleaseterm,theamountofleaseincentivealreadyenjoyedshallbedeductedifthereisaleaseincentive;initialdirectexpensesincurredbythelessee;thecoststhatthelesseeisexpectedtoincurinordertodismantleandremovetheleasedasset,restoretheleasedassettothesiteorrestoretheleasedassettothestateagreeduponintheleaseterms.Theright-of-useassetsaredepreciatedonastraight-linebasissubsequentlybytheGroup.IftheGroupisreasonablycertainthattheownershipoftheunderlyingassetwillbetransferredtotheGroupattheendoftheleaseterm,theGroupdepreciatestheassetfromthecommencementdatetotheendoftheusefullifeoftheasset.Otherwise,theGroupdepreciatestheassetsfromthecommencementdatetotheearlieroftheendoftheusefullifeoftheassetortheendoftheleaseterm.
ThecompanyrecognizesandmeasurestheabovecostsunderItem4inaccordancewiththeAccountingStandardsforEnterprisesNo.13–Contingencies.
(2)Subsequentaccounting
TheCompanyaccursedtheright-of-useassetsaccordingtotheAccountingStandardsforEnterprisesNO.4-FixedAssets.Commencementfromthedateoflease,theCompanyshallaccruetheright-of-useassets.Generally,theright-of-useassetsareaccruedatthestartoftheleasedate,theexpensesofdepreciationaccruedshallincludeintorelevantassetcostorprofitandlossinthecurrentperiodbasedonthepurposeofright-of-useassets.Whilerecognizingthemethodofright-of-useassets,theCompanyshallmakedecisionsontheeconomicbenefitofforecastconsumptionmoderelatedtotheright-of-useassets,accruesthedeprecationbystraight-linemethod.WhentheCompanyrecognizethedepreciationperiodofright-of-useassets,maturityofleaseperiodcanbedeterminedinareasonableandwell-groundedmannerontheacquisitionoftheright-of-useassets,accursedthedeprecationinitsremainingservicelife.Iftheright-of-useleaseassetscouldnotbedeterminedreasonablywhiletheservicelifeismature,depreciationisappliedwiththeshortperiodoftimebetweentheleasetermandtheremainingusefullifeoftheleaseasset.
Ifthereisimpairedright-of-useassets,theCompanyshallaccruethesubsequentdeprecationbasedonthebookvalueofright-of-useassetsafterdeductingthelossofimpairment.
TheCompanydeterminednottorecognizedtheright-of-useassetsandleaseliabilitiesontheshort-termlease(leasetermnotexceeding12months),andrecognizestherelevantleasepaymentduringtherespectiveleaseterminthecurrentprofitandlossorcostofassetsrelevantinstraightlinemethod.Impairmenttestmethodandtheprovisionmethodfordiminutioninvalueofright-of-useassetsaredetailedinNoteIII23“Long-TermAssetImpairment”.
21.Intangibleassets
Intangibleassetsrefertoidentifiablenon-monetaryassetswithoutphysicalformownedorcontrolledbytheCompany.
Intangibleassetsareinitiallymeasuredatcost.ExpenditurerelatedtointangibleassetsisincludedinthecostofintangibleassetsiftherelevanteconomicbenefitsarelikelytoflowtotheCompanyanditscostscanbemeasuredreliably.However,theintangibleassetsacquiredthroughbusinesscombinationnotinvolvingenterprisesundercommoncontrolshouldbemeasuredatfairvalueseparatelyasintangibleassetswhentheirfairvaluescanbereliablymeasured.
Theacquiredlanduserightsareusuallyaccountedforasintangibleassets.Therelatedlanduserightsandbuildingconstructioncostsofself-developedandconstructedbuildingsareaccountedforasintangibleassetsandfixedassets,respectively.Inthecaseofpurchasedhousesandbuildings,therelevantpriceisdistributedbetweenthelanduserightsandthebuildings.Ifitisdifficulttoallocatethemreasonably,allofthemaretreatedasfixedassets.
(1)Basisfordeterminingtheservicelife,theestimatethereof,andamortizationmethodsandtheprocedures
forreviewingtheirservicelifeWhenrecognizingtheservicelifeoftheintangibleassets,beingsourcedfromanycontractualrightorotherstatutoryrights,itsservicelifeshallnotexceedthelifeofcontractualrightsorotherstatutoryrights.Asfortheintangibleassetsnotspecifiedeitherunderthecontractorlegalregulations,thecompanycombinedvarioussituations,suchasemployingrelevantprofessionalpersonstoundergothejustificationormakecomparisonwiththesituationofthesameindustryandthehistoricalexperienceoftheCompany,determiningthefutureeconomicbenefitservicelifewhichisbroughtbytheintangibleassets.Iftheeffortsaremade,butcouldnotrecognizedreasonablythattheintangibleassetshallbringtheeconomicbenefitservicelifefortheCompany,thenshalltreatthisasuncertainservicelifeoftheintangibleasset.
Sincetheintangibleassetswithlimitedusefullifeareavailableforuse,theoriginalvalueminustheestimatednetresidualvalueandtheaccumulatedamountofimpairmentreserveshallbeamortizedbythestraight-linemethodduringtheirexpectedservicelife.Intangibleassetswithuncertainservicelifeshallnotbeamortized.Amongthem,theusefullifeandamortizationmethodofintellectualpropertyareasfollows:
| Item | Amortizationperiod(year) | Amortizationmethod |
| Trademark | 20 | Straight-linemethod |
| Software | 3-10 | Straight-linemethod |
| Land-userights | 50 | Straight-linemethod |
Attheendoftheperiod,theusefullifeandamortizationmethodsofintangibleassetswithlimitedusefullifearereviewed,andifanychangeoccurs,itistreatedasachangeofaccountingestimate.Inaddition,theusefullifeofintangibleassetswithuncertainservicelifeisalsoreviewed.Ifthereisevidencethattheperiodforwhichtheintangibleassetsbringeconomicbenefitstotheenterpriseisforeseeable,theusefullifeofintangibleassetsisestimatedandamortizedaccordingtotheamortizationpolicyofintangibleassetswithlimitedusefullife
(2)Researchanddevelopmentexpenditure
Thecompany'sexpenditureforinternalresearchanddevelopmentprojectisdividedintoresearchphaseexpenditureanddevelopmentphaseexpenditure.
Expendituresfortheresearchphaseshallberecognizedinprofitorlosswhenincurred.
Expendituresforthedevelopmentphasethatmeetthefollowingconditionsshallberecognizedasintangibleassets,andexpendituresinthedevelopmentstagethatfailtomeetthefollowingconditionsareincludedincurrentprofitandloss:
a.Itistechnicallyfeasibletocompletetheintangibleassettoenableittobeusedorsold.
b.Theintenttocompletetheintangibleassetanduseorsellit;
c.Thewayinwhichintangibleassetsgenerateeconomicbenefits,includingtheabilitytoprovethattheproductsproducedfromtheintangibleassetshavingamarketortheintangibleassetshavingamarket,andthe
intangibleassetswillbeusedinternally,whichcanproveitsusefulness;d.sufficienttechnical,financialresourcesandotherresourcesforsupportingthedevelopmentoftheintangibleassetsandtheabilitytouseorselltheintangibleassets.
e.Expenditureattributabletothedevelopmentphaseoftheintangibleassetcanbereliablymeasured.Ifitisimpossibletodistinguishtheexpendituresbetweenresearchphaseanddevelopmentphase,allresearchanddevelopmentexpendituresincurredwillbeincludedinthecurrentprofitandloss.
(3)ImpairmenttestmethodandImpairmentprovisionmethodforintangibleassetsFordetailsoftheimpairmenttestmethodandimpairmentprovisionmethod,pleaserefertoNoteⅢ.23“Long-TermAssetImpairment”.
22.Long-termDeferredExpensesThelong-termdeferredexpensesareallexpensesthathaveoccurredbutshallbebornebythereportingperiodandsubsequentperiodswithamortizationperiodofmorethanoneyear.Thecompany'slong-termdeferredexpensesmainlyincludeleaseoflanduserightandrenovationcostsoffactorybuilding.Long-termdeferredexpensesareamortizedonastraight-linebasisovertheestimatedbenefitperiod.
23.Long-termassetsimpairmentForfixedassets,constructioninprogress,intangibleassetswithlimitedusefullife,investmentpropertymeasuredbycostmodel,andnon-currentnon-financialassetssuchaslong-termequityinvestmentsinsubsidiaries,jointventuresandassociates,theCompanydetermineswhetherthereisanyindicationofimpairmentonthebalancesheetdate.Ifthereisanyindicationofimpairment,therecoverableamountisestimatedandtheimpairmenttestiscarriedout.Goodwill,intangibleassetswithuncertainservicelifeandintangibleassetsthatnotyetreadyforusearetestedforimpairmentannually,regardlessofwhetherthereisanyindicationofimpairment.Iftheresultoftheimpairmenttestindicatesthattherecoverableamountoftheassetislowerthanitsbookvalue,theimpairmentprovisionismadebasedonthedifferenceandisincludedintheimpairmentloss.Therecoverableamountisthehigherofthefairvalueoftheassetlessthedisposalexpenseandthepresentvalueoftheestimatedfuturecashflowoftheasset.Thefairvalueofassetsisdeterminedaccordingtothesaleagreementpriceinafairtransaction.Ifthereisnosalesagreementbutthereisanactivemarketfortheasset,thefairvalueisdeterminedaccordingtothebuyer'sbidfortheasset;ifthereisneithersalesagreementnoractivemarketforassets,thefairvalueofassetsshallbeestimatedbasedonthebestinformationavailable.Assetdisposalexpensesincludelegalfee,taxes,transportationexpensesanddirectexpensesincurredtomakeassetssaleable.Thepresentvalueoftheestimatedfuturecashflowofanassetisdeterminedbytheappropriatediscountratediscountingandtheestimatedfuturecashflowgeneratedbytheassetduringitscontinuoususeandfinaldisposal.Theassetimpairmentprovisioniscalculatedandconfirmedbasedonindividualassets.Ifitisdifficulttoestimatetherecoverableamountofanindividualasset,therecoverableamountoftheassetisdeterminedbytheassetgroupwhichtheassetbelongsto.Anassetgroupisthesmallestportfolioofassetsthatcangeneratecashinflowsindependently.
Thebookvalueofthegoodwilllistedseparatelyinthefinancialstatementsisamortizedintoassetgroupsorportfoliosthatareexpectedtobenefitfromthesynergiesofbusinesscombinationswhenimpairmenttestsareconducted.Thetestresultsshowthattherecoverableamountoftheassetgrouporportfoliocontainingtheassessedgoodwillislowerthanitsbookvalue,thecorrespondingimpairmentlossesshouldbeconfirmed.Theamountofimpairmentlossisfirstdeductedfromthebookvalueofthegoodwillamortizedtotheassetgrouporportfolio,andthendeductedproportionallyfromthebookvalueofotherassetsaccordingtotheproportionofthebookvalueofassetsotherthangoodwillintheassetgrouporportfolio.Oncetheaboveassetimpairmentlossisconfirmed,itwillnotbereversedtothepartwherethevalueisrestoredinthefutureperiod.
24.EmployeeCompensation
TheCompany'semployeecompensationmainlyincludesshort-termemployeeremuneration,Post-employmentBenefits,TerminationBenefitsandbenefitsforotherlong-termemployee.Amongthem:
Short-termemployees’remunerationmainlyincludeswages,bonuses,allowancesandsubsidies,employeewelfarefees,medicalinsurancepremiums,maternityinsurancepremiums,workinjuryinsurancepremiums,housingfund,laborunionfunds,employeeeducationfunds,andnon-monetarybenefits.TheCompanyrecognizestheactualshort-termemployee'sremunerationasaliabilityintheaccountingperiodinwhichemployeesprovideservicestotheCompanyandrecognizestheminprofitorlossorrelatedassetcosts.Non-monetarybenefitsaremeasuredatfairvalue.
Post-employmentBenefitsmainlyincludebasicretirementsecurity,unemploymentinsurance,andannuities.ThePost-employmentBenefitSchemeincludesaDefinedContributionPlanandaDefinedBenefitPlan.IfaDefinedContributionPlanisadopted,thecorrespondingamountofthedepositshallbeincludedintherelevantassetcostorcurrentprofitandlossasincurred.(1)TheDefinedContributionPlanisrecognizedasaliabilitybasedonafixedfeepaidtoanindependentfundandisincludedinthecurrentprofitandlossorrelatedassetcosts;
(2)TheDefinedBenefitPlanisaccountedforusingtheexpectedcumulativebenefitsunitmethodSpecifically,theCompanywillconvertthewelfareobligationarisingfromtheDefinedBenefitPlanintothefinalvalueofthedeparturetimeaccordingtotheformuladeterminedbytheexpectedcumulativebenefitsunitmethod;thenitisattributedtotheemployee'sin-serviceperiodandisincludedinthecurrentprofitandlossorrelatedassetcost.
Ifthelaborrelationshipwiththeemployeeisterminatedbeforetheemployee'slaborcontractexpires,oriftheemployeeisencouragedtoacceptthereductionvoluntarily,whencannotwithdrawingunilaterallythedismissalbenefitsprovidedbytheterminationofthelaborrelationshipplanorthereductionproposal,andwhenconfirmingthecostsassociatedwiththerestructuringinvolvingthepaymentofthedismissalbenefits,whicheverisearlier,theCompanywillrecognizetheemployeecompensationliabilitiesarisingfromthedismissalbenefits,andincludedinthecurrentprofitandloss.However,ifthedismissalbenefitsarenotexpectedtobefullypaidwithin12monthsaftertheendofannualreportingperiod,theyshallbetreatedinaccordancewithotherlong-termemployeecompensations.
Theinternalretirementplanforemployeesshallbetreatedinthesamewayastheabove-mentioneddismissal
benefits.Thecompanywillpaytheinternalretiredstaffthesalaryandthesocialinsurancepremiumsfromtheemployee'slay-offtonormalretirement,andwillincludeinthecurrentprofitandloss(dismissalbenefits)whentheconditionsoftheestimatedliabilitiesaremet.
Iftheotherlong-termemployeebenefitsprovidedbytheCompanytotheemployeesareinlinewiththeDefinedContributionPlan,theyshallbeaccountedforDefinedContributionPlan,andotherwiseaccountedfortheDefinedBenefitPlan.
25.Estimatedliabilities
Whentheobligationsrelatedtothecontingenciesmeetthefollowingconditions,theyarerecognizedascontingentliabilities:(1)TheobligationisthepresentobligationassumedbytheCompany;(2)Theperformanceofthisobligationislikelytoresultintheoutflowofeconomicbenefits;(3)Theamountoftheobligationcanbereliablymeasured.
Onthebalancesheetdate,takingintoaccountfactorssuchasrisks,uncertaintiesandtimevalueofmoneyrelatedtocontingencies,theestimatedliabilitiesaremeasuredinaccordancewiththebestestimateoftheexpenditurerequiredtoperformtherelevantcurrentobligations.
Ifallorpartoftheexpensesrequiredtodischargetheestimatedliabilitiesareexpectedtobecompensatedbythethirdparty,thecompensationamountwillbeseparatelyrecognizedasanassetwhenitisbasicallydeterminedtobereceived,andtheconfirmedcompensationamountdoesnotexceedthebookvalueoftheestimatedliabilities.
(1)LossContract
Alosscontractisacontractinwhichthecostoffulfillingacontractualobligationwillinevitablyoccurmorethantheexpectedeconomicbenefit.Ifthecontracttobeexecutedbecomesalosscontract,andtheobligationarisingfromthelosscontractsatisfiestheconditionsfortherecognitionoftheabove-mentionedestimatedliabilities,theportionofthecontract'sestimatedlossthatexceedstherecognizedimpairmentloss(ifany)ofthecontractedassetisrecognizedastheestimatedliability.
(2)RestructuringObligations
Forrestructuringplansthataredetailed,formal,andhavebeenannouncedtothepublic,theamountoftheestimatedliabilitiesisdeterminedbasedonthedirectexpensesrelatedtothereorganization,subjecttotherecognitionconditionsoftheaforementionedestimatedliabilities.Fortherestructuringobligationtothepartofbusinesssold,theobligationrelatedtothereorganizationisconfirmedonlywhenthecompanypromisestosellpartofthebusiness(thatis,whenthebindingsaleagreementissigned).
26.Share-basedPayments
(1)AccountingTreatmentofShare-basedPayments
Ashare-basedpaymentisatransactionthatgrantsanequityinstrumentorassumesaliabilitydeterminedbasedonanequityinstrumentinordertoobtainservicesfromemployeesorotherparties.Share-basedPayments
includeequity-settledsharepaymentandcash-settledsharepayment.
①Equity-settledSharePaymentTheequity-settledsharepaymentinexchangefortheservicesfromemployeeismeasuredatthefairvalueofthegrantingofemployees'equityinstrumentsatthegrantdate.Ifthefairvalueisvestedinthecompletionofthewaitingperiodofserviceorthefulfillmentoftherequiredperformanceconditions,duringthewaitingperiod,theamountofthefairvalueiscalculatedbythestraight-linemethodintotherelevantcostsorexpensesbasedonthebestestimateofthenumberofvestingequityinstruments;OrIfthevestingrightisgrantedimmediatelyafterthegrant,thecalculationoftheamountofthefairvalueisincludedintherelevantcostorexpenseonthegrantdate,andthecapitalreserveisincreasedaccordingly.
Oneachbalancesheetdateduringthewaitingperiod,theCompanymakesthebestestimatebasedonthelatestinformationonthechangesinthenumberofemployeeswithvestingrightsandcorrectsthenumberofequityinstrumentsthatareexpectedtobevested.Theimpactoftheaboveestimatesshallbeincludedinthecurrentrelatedcostsorexpenses,andthecapitalreserveisadjustedaccordingly.
Inthecaseofequity-settledshare-basedpaymentsinexchangeforotherparties'services,ifthefairvalueofotherparties'servicescanbereliablymeasured,thefairvalueofotherservicesshallbemeasuredatthefairvalueonthedateofacquisition;Ifthefairvalueoftheotherparty'sservicescannotbemeasuredreliably,thefairvalueshallbemeasuredatthefairvalueoftheequityinstrumentatthedatetheserviceisacquired,andisincludedintherelevantcostorexpense,whichincreasestheshareholders'equityaccordingly.
②Cash-settledSharePayment
Thecash-settledsharepaymentismeasuredatthefairvalueoftheliabilitiesdeterminedbytheCompanybasedonsharesorotherequityinstruments.Ifthevestingrightisavailableimmediatelyafterthegrant,therelevantcostsorexpensesshallbeincludedonthedateofgrant,andtheliabilitiesshallbeincreasedaccordingly;ifvestingrightisavailableaftertheserviceiscompletedwithinthewaitingperiodormettherequiredperformanceconditions,basedonthebestestimateofthevestingrightsoneachbalancesheetdateofthewaitingperiod,accordingtothefairvalueoftheliabilitiesassumedbythecompany,theservicesobtainedinthecurrentperiodareincludedinthecostorexpense,andtheliabilitiesareincreasedaccordingly.
Thefairvalueoftheliabilitiesshallbere-measuredoneachbalancesheetdateandsettlementdatebeforethesettlementoftherelevantliabilities,andthechangesshallberecordedintheprofitandlossofthecurrentperiod.
(2)RelevantAccountingTreatmentofshare-basedpaymentplan’smodificationandtermination
WhentheCompanymodifiestheshare-basedpaymentplan,ifthemodificationincreasesthefairvalueoftheequityinstrumentsgranted,theincreaseinthefairvalueoftheequityinstrumentsisrecognizedaccordingly.Theincreaseinthefairvalueofequityinstrumentsreferstothedifferencebetweenthefairvalueoftheequityinstrumentsbeforeandafterthemodification.Ifthemodificationreducesthetotalfairvalueoftheshare-basedpaymentoradoptsothermethodsthatarenotconducivetotheemployee,theserviceobtainedshallcontinuetobeaccountedfor,asifthechangehasneveroccurred,unlesstheCompanycancelssomeorallofequityinstruments.
Duringthewaitingperiod,ifthegrantedequityinstrumentiscancelled,theCompanywillcancelthegrantedequityinstrumentasanacceleratedexercise,andtheamounttoberecognizedintheremainingwaitingperiodwillbeimmediatelyincludedinthecurrentprofitandloss,andthecapitalreservewillberecognized.Iftheemployeeorotherpartycanchoosetomeetthenon-vestingconditionsbutfailstomeetthewaitingperiod,theCompanywilltreatitasacancellationoftheequityinstrument.
(3)AccountingTreatmentofSharePaymentTransactionsbetweentheCompanyanditsShareholdersorActualControllers
Inrespectoftheshare-basedpaymenttransactionbetweenthecompanyandtheshareholdersoractualcontrollersofthecompany,Ifoneofthesettlemententerpriseandtheservicereceivingenterpriseisinthecompanyandtheotherisoutsidethecompany,itshallbeaccountedforintheconsolidatedfinancialstatementsofthecompanyaccordingtothefollowingprovisions:
①Ifthesettlemententerprisesettleswithitsownequityinstrument,theshare-basedpaymenttransactionshallbetreatedasequity-settledshare-basedpayment;otherwise,itshallbetreatedasacash-settledshare-basedpayment.
Ifthesettlemententerpriseisaninvestorofaservicedenterprise,itshallberecognizedasthelong-termequityinvestmentoftheservicedenterpriseaccordingtothefairvalueoftheequityinstrumentatthegrantdateorthefairvalueoftheliabilitytobeassumed,andthecapitalreserve(othercapitalreserve)orliabilitiesshallberecognized.
②Iftheservicedenterprisehasnosettlementobligationorgrantsitsownemployeestheequityinstruments,thesharepaymenttransactionshallbetreatedasequity-settledsharepayment;iftheservicedenterprisehassettlementobligationandgrantsitsemployeesotherthanitsownequityinstruments,thesharepaymenttransactionshallbetreatedasacash-settledsharepayment.
Fortheshare-basedpaymentincurredbetweencompanieswithinthegroup,iftheservicedenterpriseandsettlemententerprisearenotthesame,thenthepaymentshouldberecognizedandmeasuredintheirindividualfinancialstatements,theyshouldbeaccountedforusingtheaboveprinciples.
27.Revenue
Theterm“revenue”referstothegrossinflowofeconomicbenefitsarisinginthecourseoftheordinaryactivitiesofanenterprise,whichmayincreaseoftheshareholder'sequitiesandisirrelevanttothecapitaloftheshareholder.Whenthecompanysignsacontract,itevaluatesthecontract,identifiestheindividualperformanceobligationscontainedinthecontract,anddetermineswhethertheindividualperformanceobligationsareperformedwithinacertainperiodoftimeoratacertainpointoftime.Whenthecompanyhasfulfilledalltheperformanceobligationsinthecontract,therevenueshallberecognizedrespectivelyaccordingtothetransactionpriceapportionedtotheperformanceobligations.Acontractwithacustomergenerallyexplicitlystatesthegoodsorservicesthatanentitypromisestotransfertoacustomer.Thetransactionpriceistheamountofconsiderationtowhichanentityexpectstobeentitledinexchangefortransferringpromisedgoodsorservicestoacustomer,
excludingamountscollectedonbehalfofthirdparties.Generally,thecompanyrecognizestherevenuefromthesalesofgoodsbasedonthetransactionpriceapportionedtothesingleperformanceobligationwhenthecustomerobtainsthecontrolrightoftherelevantgoodsonthebasisofcomprehensivelyconsideringthefollowingfactors:thecompanyhastherighttoreceivepaymentinrespectofthegoodsorservicescurrently,thatis,thecustomerhastheobligationtopayforthegoodscurrently;thecompanyhastransferredthelegalownershipofthegoodstothecustomer,thatis,thecustomerhasthelegalownershipofthegoods;TheCompanyhastransferredthephysicalgoodsofthecommoditytotheCustomerortheCustomerhasobtainedthequalificationofphysicalgoodsrightofthecommodity.TheconsiderationobtainedbytheCompanyinrespectofthetransferofthecommodityislikelytoberecovered;Otherindicationsthatthecustomerhastakencontrolofthecommodity.Fortheperformanceobligationsperformedinacertainperiodoftime,suchastheservicesprovided,thecompanyadoptstheinputmethodtodeterminetheappropriateperformanceprogress,andrecognizestherevenueaccordingtotheperformanceprogressinthatperiodoftime.Onthebalancesheetdate,thecompanyshallrecognizethecurrentincomeaccordingtothetotaltransactionpriceofthecontractmultipliedbytheprogressofperformanceminustheaccumulatedrecognizedincome.Ifoneofthefollowingconditionsissatisfied,itisregardedastheperformanceobligationperformedduringacertainperiodoftime:theCustomerobtainsandconsumestheeconomicbenefitsarisingfromtheperformanceoftheCompanyatthesametimeoftheperformanceoftheCompany;Customerscancontrolthegoodsunderconstructionduringtheperformanceofthecontract;TheproductsproducedbytheCompanyduringtheperformanceoftheContractareofirreplaceableuse,andtheCompanyshallbeentitledtoreceivepaymentfortheaccumulatedpartofthecompletedperformancesofarduringthewholetermoftheContract.Otherwise,theCompanyrecognizesrevenueatthepointwhentheCustomeracquirescontroloftherelevantgoodsorservices.Wherethecontractcontainstwoormoreperformanceobligations,anentityshall,onthecommencementdateofthecontract,allocatethetransactionpricetoeachperformanceobligationidentifiedinthecontractonarelativestandalonesellingpricebasis.Exceptwhenanentityhasobservableevidencethattheentirediscountrelatestoonlyoneormore,butnotall,performanceobligationsinacontract,theentityshallallocateadiscountproportionatelytoallperformanceobligationsinthecontract.Stand-alonesellingpricereferstothepriceofthegoodsorservicessoldbytheCompanytothecustomerseparately.Ifthestand-alonesellingpricecannotbedirectlyobserved,theCompanyshalltakeintoaccountallrelevantinformationreasonablyavailableandestimatethestand-alonesellingpricebyobservableinputvaluestothemaximumextent.
Asforthesaleswithqualityguarantee,exceptforitguaranteestheproductonsaleofservicemeetsthedesignatedstandardstothecustomer,providingasingleseparateservice,thisqualityguaranteedcomposesthesingleperformanceobligation.Otherwise,theCompanyshalltreattheaccountingmethodonqualityguaranteeobligationsinaccordancewiththeEnterpriseAccountingStandardsNo,13-Contingencies.
Ifthecontractcomprisedofsignificantfinancingelements,theCompanyshallrecognizetheamountofpayablesincashtodeterminethetradingpricebasedontheassumptionthatthecustomerobtainstheproductsorservicecontrolrights.Thedifferencebetweenthepricestipulatedinthecontractoragreementanditscontract
considerationshallbeamortizedwithintheperiodofthecontractoragreement.throughtherealinterestmethod.Asapracticalexpedient,anentityneednotadjustthepromisedamountofconsiderationfortheeffectsofasignificantfinancingcomponentiftheentityexpects,atcontractinception,thattheperiodbetweenwhentheentitytransfersapromisedgoodorservicetothecustomerandwhenthecustomerpaysforthatgoodorservicewillbeoneyearorless.TheCompanyjustifiesthetradingidentityisthemajorresponsiblepersonoronbehalfbasedonwhetherithasthecontrolrighttotheproductortheservicebeforetransferringtheproductsorservicetothecustomer.AsthemajorresponsiblepersonoftheCompany,shallrecognizestherevenuebasedonthetotalconsiderationoftheamountreceivedorreceivable.Otherwise,astheagentoftheCompany,shallrecognizestherevenuebasedontheexpectedrightofobtainingthecommissionorservicecharge,whichiscalculatedasthetotalconsiderationontheamountreceivedorreceivabledeductingthenetamountpayabletootherrelatedpartiesorrecognizesontheamountofcommissionorproportionetc.
TheCompanyreceivedtheamountofproductssalesorserviceinadvance,shallrecognizesitasliabilitiesinthefirst,thenaccountedasrevenueuponfulfillingrelevantperformanceobligations.TheCompanyhastransferredtheproductsorservicetoitsclientsandhasrightstoobtaintheconsiderations(andthisrightsisobligedtootherelementsofpassingtime)listedasthecontractualassets.Contractualassetsareaccruedthedevaluationprovisionbasedontheexpectedcreditloss.TheCompanyhastheunconditionalrights（onlydependsonthepassingoftime）toitscustomerforobtainingtheconsiderations,listedasitemreceivables.Theconsiderationofamountreceivedorreceivable,whichisobtainedtoitscustomer,shalltransferproductorserviceobligationtothem,listedascontractualliabilities.ThedetailedaccountingpoliciesrelatedtothemajoractivitiesofobtainingtherevenueoftheCompany
(1)Salesprocessing
Theproductionandprocessingsalescomprisemainlyofsalesofoilsandoilseeds,foodetc.TheCompanyrecognizedthesalesrevenuewhentheamountsreceivedoridentificationobtaineduponsales,whichhasbeensubmittedandsignedbythecustomer.
(2)TradingRevenue
IftheCompanyobtainedtheproductcontrolrightsfromthethirdpartyandtransferredtotheclient,assumedthesignificantobligationsunderthetransactionoftransferringtheproductstotheclient.i.e.inventoryrisk,andhasrightstodeterminethepriceoftheproductsoneself.TheidentityoftheCompanyunderthetransactionisthemajorresponsibleperson,recognizingthetradingrevenuebasedontheexpectedrightsforobtainingthetotalconsiderationstipulatedonthecontract.TheCompanymadecommitmenttoarrangeotherstoprovidespecificproducts,buthasnocontrolrightsonthisbeforeprovidingthespecificproductstoclients.TheidentityoftheCompanyunderthetransactionisagent,recognizingtherevenueonthecommissionobtainedorserviceamountforarrangingotherstoprovidethespecificproductstoclients.
28.Contractcost
Contractcostcomprisescontractperformancecostandcontractacquisitioncost.Thecostincurredbythecompanyfortheperformanceofthecontract,whichdoesnotfallwithinthescopeofotheraccountingstandardsforbusinessenterprisesotherthantheincomestandardandmeetsthefollowingconditionsatthesametime,isrecognizedasanassetasthecontractperformancecost:
(1)Thecostisdirectlyrelatedtoacurrentorexpectedcontract,includingdirectlabor,directmaterials,manufacturingexpenses(orsimilarexpenses),costsexplicitlybornebythecustomerandothercostsincurredsolelyasaresultofthecontract;
(2)Thecostincreasesthecompany'sresourcesforfulfillingitsperformanceobligationsinthefuture;
(3)Thecostisexpectedtoberecovered.
Theassetsarepresentedininventoryorothernon-currentassetsaccordingtowhethertheamortizationperiodhasexceededonenormaloperatingcycleatthetimeofitsinitialrecognition.
Iftheincrementalcostincurredbythecompanytoobtainthecontractisexpectedtoberecovered,itshallberecognizedasanassetasthecontractacquisitioncost.Incrementalcostreferstothecostthatwillnotoccurifthecompanydoesnotobtainthecontract.
Theassetsrelatedtothecontractcostmentionedaboveshallbeamortizedatthetimeofperformanceoftheobligationoraccordingtotheperformanceprogressonthesamebasisastheincomerecognitionofthecommodityorservicerelatedtotheassetandshallberecordedintothecurrentprofitandloss.
Ifthebookvalueoftheaboveassetsrelatedtothecontractcostishigherthanthedifferencebetweentheresidualconsiderationexpectedtobeobtainedbythecompanyduetothetransferofthegoodsrelatedtotheassetsandtheestimatedcosttobeincurredforthetransferoftherelevantgoods,theexcesspartshallbesetasideasanimpairmentprovisionandrecognizedasanimpairmentlossoftheasset.
29.Governmentgrants
Governmentgrantreferstothecompany'sacquisitionofmonetaryandnon-monetaryassetsfromthegovernmentfreeofcharge,excludingthecapitalinvestedbythegovernmentasaninvestorandenjoyingthecorrespondingowner'srightsandinterests.Governmentgrantsincludeassets-relatedgrantsandrevenue-relatedgrants.Thecompanydefinesthegovernmentgrantobtainedforthepurchaseandconstructionoflong-termassetsorfortheformationoflong-termassetsinotherwaysasthegovernmentgrantrelatedtoassets;theremaininggovernmentgrantisdefinedasthegovernmentgrantrelatedtoincome.Iftheobjectofgrantsisnotspecifiedingovernmentdocuments,thegrantsshallbedividedintoincome-relatedgovernmentgrantsandassets-relatedgovernmentgrantsinthefollowingways:(1)Ifthegovernmentdocumentclarifiesthespecificprojectforwhichthegrantistargeted,theproportionoftheexpenditureamountoftheassetstobeformedandtheamountoftheexpendituresincludedintheexpensesinthebudgetofthespecificprojectaredivided,andtheproportionofgrantdivisionneedstobereviewedoneachbalancesheetdayandchangedifnecessary.(2)Ingovernmentdocuments,ifthepurposeisexpressedonlyingeneraltermsandnospecificprojectisspecified,thegrantshallberegardedasagovernmentgrantrelatedtotheincome.Whereagovernmentgrantisamonetaryasset,itshallbemeasured
accordingtotheamountreceivedorreceivable.Ifthegovernmentgrantsarenon-monetaryassets,theyshallbemeasuredatthefairvalue;ifthefairvaluecannotbeobtainedreliably,theyshallbemeasuredatthenominalamount.Governmentgrantsmeasuredinnominalamountsshallberecognizeddirectlyincurrentprofitsandlosses.TheCompanyusuallyconfirmsandmeasuresthegovernmentgrantaccordingtotheamountwhenitisactuallyreceived.However,ifthereisconclusiveevidenceattheendoftheperiodthattherelevantconditionsstipulatedinthefinancialsupportpolicycanbemetandthefinancialsupportfundsareexpectedtobereceived,itshallbemeasuredaccordingtotheamountreceivable.Governmentgrantsmeasuredinaccordancewiththeamountreceivableshallmeetthefollowingconditionsatthesametime:(1)Theamountofthesubventionreceivablehasbeenconfirmedbytheauthorizedgovernmentdepartments,orcanbereasonablycalculatedaccordingtotherelevantprovisionsoftheformallyissuedfinancialfundmanagementmeasures,andthereisnosignificantuncertaintyintheamountexpected;(2)Accordingtothe"RegulationsontheOpennessofGovernmentInformation"thatthelocalfinancialdepartmentofficiallyreleasedandinaccordancewiththeprovisionsofthe"RegulationsontheOpennessofGovernmentInformation,"thefinancialsupportprojectanditsfinancialfundmanagementmeasuresshouldbeinclusive(anyeligibleenterprisecanapplyforthem),ratherthanbeingspecificallytailoredtospecificcompanies;(3)Therelevantgrantapprovalhasclearlypromisedthepaymentperiod,andtheallocationofthepaymentisguaranteedbythecorrespondingbudget,soitcanbereasonablyensurethatitcanbereceivedwithintheprescribedtimelimit;(4)Otherrelevantconditions(ifany)tobemetinaccordancewiththespecificcircumstancesoftheCompanyandthegrants.
Governmentgrantsrelatedtoassetsarerecognizedasdeferredearningsandaredividedintocurrentprofitsandlossesinareasonableandsystematicwayduringtheservicelifeoftheassetsconcerned.Thegovernmentgrantsrelatedtorevenue,whichareusedtocompensatefortherelatedcostorlossinthesubsequentperiod,shallberecognizedasdeferredincome,andshallberecognizedinprofitorlossintheperiodinwhichtherelatedcostsorlossesarerecognized;ifitisusedtocompensatetherelatedcostsorlossesthathasoccurred,itshallbedirectlyrecognizedinthecurrentprofitandloss.
Itincludesgovernmentgrantsrelatedtobothassetsandincome,anddifferentpartsareseparatelyclassifiedforaccountingtreatment;ifitisdifficulttodistinguish,thewholeisclassifiedasgovernmentgrantsrelatedtoincome.
GovernmentgrantsrelatedtothedailyactivitiesoftheCompanyshallbeincludedinotherincomeorcostdeductionsaccordingtothenatureoftheeconomicbusiness;governmentsubsidiesunrelatedtodailyactivitiesshallbeincludedinthenon-operatingrevenuesandexpenses.
Whentherecognizedgovernmentgrantsneedtobereturned,iftherearerelevantdeferredearningsbalances,thebookbalanceofrelateddeferredearningsshallbededucted,andtheexcesspartshallbeincludedinthecurrentprofitsandlossesorthebookvalueofassetsshallbeadjusted,otherwise,thebookvalueofassetsshallbedirectlyincludedinthecurrentprofitsandlosses.
Thecompanywillobtainpreferentialpolicyloansdiscountinaccordancewiththefinancewillbeallocated
totheloanbankdiscountfundsandthefinancewillbedirectlyallocatedtothecompanydiscountfundsintwocases:
(1)Ifthefinancedepartmentallocatesthediscountinterestfundstothelendingbank,andthelendingbankprovidestheloantotheCompanyatthepolicypreferentialinterestrate,theCompanychoosestoconductaccountingtreatmentaccordingtothefollowingmethods:theloanamountactuallyreceivedshallbetakenastheentryvalueoftheloan,andtherelevantborrowingcostsshallbecalculatedinaccordancewiththeloanprincipalandthepolicypreferentialinterestrate.
(2)Ifthefinanceallocatesthediscountfundsdirectlytothecompany,thecompanywilloffsetthecorrespondingdiscountagainsttherelevantborrowingcosts.
30.DeferredIncomeTaxAssets/DeferredIncomeTaxLiabilities
(1)CurrentIncomeTax
Onthebalancesheetdate,thecurrentincometaxliabilities(orassets)formedinthecurrentandpreviousperiodsaremeasuredbytheexpectedamountofincometaxpayable(orreturned)inaccordancewiththeprovisionsoftheTaxLaw.Theamountoftaxableincomeonwhichcurrentincometaxexpensesarecalculatedisbasedonthecorrespondingadjustmentofpre-taxaccountingprofitsinthereportingperiodinaccordancewiththerelevanttaxlaws.
(2)DeferredIncomeTaxAssetsandDeferredIncomeTaxLiabilities
Thedifferencebetweenthebookvalueofcertainassetsandliabilitiesandtheirtaxbasis,andthetemporarydifferencebetweenthebookvalueofitemsthatarenotrecognizedasassetsandliabilitiesbutwhichcanbedeterminedastheirtaxbasisaccordingtothetaxlaw,areconfirmedbythebalancesheetliabilitymethod.
Taxabletemporarydifferenceswhichrelatedtotheinitialrecognitionofgoodwillandtheinitialrecognitionofanassetorliabilityarisingfromatransactionthatisneitherabusinesscombinationnoranaccountingprofitortaxableincome(ordeductibleloss),relevantdeferredincometaxliabilitiesshallnotberecognized.Inaddition,fortaxabletemporarydifferencesrelatedtoinvestmentsinsubsidiaries,associatesandjointventures,iftheCompanyisabletocontroltheturnaroundtimeoftemporarydifferences,andthetemporarydifferenceisunlikelytobereversedintheforeseeablefuture,therelateddeferredincometaxliabilitiesshallnotberecognized.Exceptfortheaboveexceptions,theCompanyrecognizesallotherdeferredincometaxliabilitiesarisingfromtaxabletemporarydifferences.
Taxabletemporarydifferenceswhichrelatedtotheinitialrecognitionofanassetorliabilityarisingfromatransactionthatisneitherabusinesscombinationnoranaccountingprofitortaxableincome(ordeductibleloss),relevantdeferredincometaxliabilitiesshallnotberecognized.Inaddition,fortaxabletemporarydifferencesrelatedtoinvestmentsinsubsidiaries,associatesandjointventures,ifthetemporarydifferenceisunlikelytobereversedintheforeseeablefuture,ortheamountoftaxableincomeusedtooffsetthetemporarydifferenceisunlikelytobeobtainedinthefuture,thedeferredincometaxassetsconcernedshallnotberecognized.Exceptfortheaboveexceptions,theCompanyrecognizesotherdeferredincometaxassetsthatcanoffsettemporary
differences,subjecttotheamountoftaxableincomethatislikelytobeobtainedtooffsettemporarydifferences.Fordeductiblelossesandtaxcreditsthatcanbecarriedforwardinsubsequentyears,thecorrespondingdeferredincometaxassetsarerecognizedtotheextentthatitisprobablethatthefuturetaxableincomeshallbeusedtooffsetthedeductiblelossesandtaxcredits.Onthebalancesheetdate,thedeferredincometaxassetsanddeferredincometaxliabilitiesshallbemeasuredattheapplicabletaxratesintheperiodinwhichtherelatedassetsarerecoveredortherelatedliabilitiesarerecoveredinaccordancewiththetaxlaws.Onthebalancesheetdate,thebookvalueofdeferredincometaxassetsisreviewed.andthebookvalueofdeferredincometaxassetsiswrittendownifitislikelythatsufficienttaxableincomewillnotbeavailabletooffsetthebenefitsofdeferredincometaxassetsinthefuture.Whenitispossibletoobtainsufficienttaxableincome,theamountwrittendownshallbereversed.
(3)IncometaxexpensesIncometaxexpensesincludecurrentincometaxanddeferredincometax.Inadditiontorecognizingthatthecurrentincometaxanddeferredincometaxrelatedtoothertransactionsandmattersdirectlyincludedinshareholder'srightsandinterestsshallberecognizedinothercomprehensiveincomeorshareholder'srightsandinterests,andthebookvalueofadjustedgoodwillfromdeferredincometaxresultingfromthemergerofenterprises,theothercurrentincometaxanddeferredincometaxexpensesorgainsshallberecognizedinprofitorlossforthecurrentperiod.
(4)OffsetofIncomeTaxWhenthecompanyhaslegalrightstosettleonanetbasis,andintendstosettleonanetbasisoracquireassetsandpayoffliabilitiesatthesametime,thecompany'scurrentincometaxassetsandcurrentincometaxliabilitiesshallbepresentedonanetbasisaftertheoffset.Whenithasthelegalrighttosettlecurrentincometaxassetsandcurrentincometaxliabilitiesonanetbasis,anddeferredincometaxassetsanddeferredincometaxliabilitiesarerelatedtotheincometaxleviedbythesametaxadministrationdepartmentonthesametaxpayerortodifferenttaxpayers,butinthefuture,duringeachimportantperiodofdeferredincometaxassetsandliabilitiesbeingreversed,thetaxpayerinvolvedintendstosettlethecurrentincometaxassetsandliabilitiesonanetbasis,oracquireassetsandpayoffliabilitiessimultaneously,thedeferredtheincometaxassetsanddeferredincometaxliabilitiesoftheCompanyshallbepresentedonanetbasisafteroffset.
31.LeaseOnthecommencementdateofacontract,anenterpriseshallassesswhetherthecontractisaleaseorincludesalease.Whereapartytoacontracttransferstherighttocontroltheuseofoneormoreidentifiedassetsforacertainperiodoftimeinreturnforconsideration,thecontractisaleaseorincludesalease.Todeterminewhethertherighttocontroltheuseofidentifiedassetswithinacertainperiodoftimeunderacontracthasbeentransferred,anenterpriseshallassesswhetheraclientinthecontracthastherighttousealmostalloftheeconomicbenefits
arisingfromtheuseoftheidentifiedassetsduringtheperiodofuse,andhastherighttodominatetheuseofidentifiedassetsduringthisperiodofuse.
Whereacontractconcurrentlycontainsmultipleseparateleases,thelesseeandlessorshallsplitthecontractandconductaccountingtreatmentrespectivelyforallseparateleases.Wherethefollowingconditionsareconcurrentlymet,useoftherightsofidentifiedassetsshallconstituteaseparateleaseinacontract:
①Alesseemayearnprofitsfromseparateuseoftheassetsorjointusewithotherresourcesreadilyavailable.
②Thereisnohighdependenceorhighcorrelationbetweentheassetsandotherassetsinthecontract.
Whereacontractconcurrentlyincludesbothleasedandnon-leasedparts,theCompany,asthelesseeandlessor,shallsplittheleasedandnon-leasedpartstoconductaccountingtreatment.
(1)TheCompanyrecordsoperatingleasebusinessasalessee.
Themaintypesofleasedassetsofthecompanyincludehousesandbuildings,transportationequipmentandlanduserightsetc.
1)Initialmeasurement
Atthebeginningoftheleaseperiod,theCompanyrecognizesitsrighttousetheleasedassetsduringtheleaseperiodasaright-of-useasset,recognitionofthepresentvalueofoutstandingleasepaymentsasleaseliabilities,exceptshort-termandlow-valueassetleases.Incalculatingthepresentvalueoftheleasepayment,theCompanyusestheinterestrateincludedintheleaseasthediscountrate.Wheretheinterestrateincludedintheleasecannotbedetermined,theCompanyusestheincrementalborrowingrateasthediscountrate
TheleaseperiodistheirrevocableperiodduringwhichtheCompanyisentitledtousetheleaseassets.WheretheCompanyhastheoptiontorenewthelease,thatis,therighttochoosetorenewtheleaseoftheasset,andreasonablydeterminesthattheoptionwillbeexercised,Theleaseperiodalsoincludestheperiodcoveredbytheleaserenewaloption.TheCompanyhastheoptiontoterminatethelease,thatis,therighttoterminatetheleaseoftheasset,Providedthatitisreasonablydeterminedthattheoptionwillnotbeexercised,theleaseperiodincludestheperiodcoveredbytheoptiontoterminatethelease.WhereamaterialeventorchangewithinthecontroloftheCompanyoccursandaffectswhethertheCompanyreasonablydeterminesthattheappropriateoptionwillbeexercised...TheCompanywilldeterminetoexercisetheoptionofrenewingthelease,re-evaluationoftheoptiontopurchaseornottoexercisetheoptiontoterminatetheleasonitsreasonability.
2)Subsequentmeasurement
TheCompanyadoptsthestraight-linemethodtodepreciatetherighttouseassets.Whereitisreasonabletodeterminethattheleasedassetsaretobeowneduponexpiryoftheleaseterm,theCompanyshallcalculatetheleasedassetswithintheremainingusefullifeoftheleasedassets.Iftheownershipoftheleasedassetsuponexpiryoftheleasetermisunabletobereasonablydetermined,theCompanyshallaccruedepreciationwithinashortperiodoftimebetweentheleasetermandtheremainingusefullifeoftheleasedassets.Theinterestexpensesof
theleaseliabilitiesforeachperiodoftheleasetermatthediscountrateisrecognizedbytheCompanyandshallbeincludedintothecurrentprofitorloss.Variableleasepaymentsthatarenotincludedintheleaseholdliabilitymeasureareincludedinthecurrentprofitandlossatthetimeofactualincurrence.Aftercommencementoftheleaseperiod,whenthereisachangeintheamountofsubstantialfixedpaymentsandtheamountduetowhichtheguaranteebalanceisexpected,changesinindicesorratiosusedtodeterminerentalpayments,wheretheassessmentofpurchaseoptions,therenewaloptionorterminationoptionoractualexerciseoftheoptionchanges,theCompanyre-measurestheleaseliabilitiesaccordingtothepresentvalueofthechangeinleasepayments,andadjustthebookvalueoftherighttouseassetsaccordingly.Ifthebookvalueoftherighttouseassetshasbeenreducedtozero,buttheleaseliabilitystillneedstobefurtherreduced,theCompanywillrecordtheremainingamountinthecurrentprofitorloss.
3)LeasechangeLeasemodificationreferstothemodificationoftheleasescope,leaseconsiderationandleasetermbeyondthetermsoftheoriginalcontract,includingincreasingorterminatingtherighttouseoneormoreleasedassets,extendingorshorteningtheleasetermspecifiedinthecontract,etc.Iftheleasechangesandthefollowingconditionsaremet,theCompanywillaccountfortheleasechangeasaseparatelease:
①Theleasechangeexpandsthescopeoftheleasebyaddingtherighttouseoneormoreleasedassets;
②Theincreasedconsiderationisequivalenttotheseparatepricefortheextendedportionofthelease,adjustedforthecircumstancesofthecontract.
Iftheleasechangeisnotaccountedforasaseparatelease,ontheeffectivedateoftheleasechange,theCompanyredeterminestheleasetermanddiscountsthechangedleasepaymentatthereviseddiscountratetoremeasuretheleaseliability.Incalculatingthepresentvalueoftheleasepaymentafterthechange,theCompanyusestheinherentinterestrateoftheleaseduringtheremainingleasetermasthediscountrate;Iftheinherentinterestrateoftheleasefortheremainingleasetermcannotbedetermined,theCompany'sincrementalborrowingrateontheeffectivedateoftheleasechangeshallbeusedasthediscountrate.
TheCompanyaccountsfortheimpactoftheaboveadjustmentofleaseliabilitiesinthefollowingcases:
①Iftheleasechangeresultsinthereductionoftheleasescopeortheshorteningoftheleaseterm,theCompanyshallreducethebookvalueoftherightofuseassetstoreflectthepartialorcompleteterminationofthelease.TheCompanyrecognisesgainsorlossesrelatedtopartialorcompleteterminationoftheleaseinprofitorlossforthecurrentperiod.
②Forotherleasechanges,thecompanyshalladjustthebookvalueoftherighttouseassetsaccordingly
4)Short-termleasesandleasesoflowvalueassets
TheCompanywillconsideraleaseforaperiodnotexceeding12monthsandexcludingapurchaseoptionasashort-termleaseonthecommencementdateoftheleaseterm;Aleasewithalowervaluewhenasingleleased
assetisanewassetisidentifiedasalow-valueassetlease.WheretheCompanysubleasesorintendstosubleaseleasedassets,theoriginalleaseisnotdeemedtobealow-valueassetlease.Therelevantassetcostorcurrentprofitorlossisrecognisedonastraight-linebasisduringeachperiodoftheleaseterm,andthecontingentrentisrecognisedincurrentprofitorlosswhenactuallyincurred
(2)ThecompanyrecordsoperatingleasebusinessasalessorTheleasecommencementdateessentiallytransfersalmostalltherisksandrewardsassociatedwiththeownershipoftheleasedassettofinanceleases,andallotherleasesareoperatingleases
1)OperatingleaseTherentalincomeofoperatingleaseshallberecognizedascurrentprofitandlossaccordingtothestraight-linemethodduringeachperiodoftheleaseperiod.Thelargerinitialdirectexpensesarecapitalizedwhenoccurring,andtheprofitsandlossesofthecurrentperiodshallberecordedinstagesonthesamebasisastherecognizedrentalincomeduringthewholeleaseperiod;thesmallerinitialdirectexpensesshallberecordedintheprofitsandlossesofthecurrentperiodwhenoccurring.Contingentrentalsshallbeincludedincurrentprofitsandlosseswhenactuallyoccurring.
2)FinanceleaseAtthebeginningdateoftheleaseterm,theCompanyrecognizesthefinancialleasepaymentreceivableforthefinancialleaseandterminatestherecognitionofthefinancialleaseassets.WhentheCompanymakestheinitialmeasurementofthefinancialleasereceivable,thenetleaseinvestmentistakenastherecordedvalueofthefinancialleasereceivable.Thenetleaseinvestmentisthesumoftheunsecuredbalanceandthepresentvalueoftheleaseproceedsnotyetreceivedatthecommencementdateoftheleaseterm,discountedattheintrinsicinterestrateofthelease.TheCompanycalculatesandrecognizesinterestincomeforeachperiodoftheleasetermbasedontheinherentinterestrateofthelease.
TheCompanypresentsfinancialleasereceivablesaslong-termreceivables,andfinancialleasereceivablesreceivedwithinoneyear(includingoneyear)fromthebalancesheetdatearepresentedasnon-currentassetsmaturingwithinoneyear.
32.Otherimportantaccountingpoliciesandaccountingestimates
(1)Hedgeaccounting
Inordertoavoidsomerisks,theCompanyhedgessomefinancialinstrumentsashedginginstruments.Forthehedgesmeetingthespecifiedconditions,theCompanyadoptsthehedgeaccountingmethodfortreatment.ThehedgingoftheCompanyisfairvaluehedging.
Atthebeginningofhedging,theCompanyformallydesignateshedginginstrumentsandhedgeditems,andprepareswrittendocumentsonhedgingrelationshipandriskmanagementstrategyandriskmanagementobjectivesoftheCompanyengagedinhedging.Inaddition,theCompanywillcontinuouslyevaluatetheeffectivenessofhedgingatthebeginningandafterthehedging.
(2)FairvaluehedgingIfahedginginstrumentisdesignatedasafairvaluehedgeandmeetstheconditions,theprofitsorlossesarisingtherefromshallbeincludedintothecurrentprofitsandlosses.Ifthehedginginstrumenthedgesthenon-tradingequityinstrumentinvestment(oritscomponents)thatismeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome,thegainsandlossesgeneratedbythehedginginstrumentareincludedinothercomprehensiveincome.Theprofitorlossofthehedgeditemduetothehedgedriskexposureshallbeincludedintothecurrentprofitsandlosses,andthebookvalueofthehedgeditemshallbeadjustedatthesametime.Ifthehedgeditemismeasuredatfairvalue,thegainorlossofthehedgeditemduetothehedgedriskdoesnotneedtoadjustthebookvalueofthehedgeditem,andtherelevantgainsandlossesareincludedintothecurrentprofitsandlossesorothercomprehensiveincome.WhentheCompanycancelsthedesignationofthehedgingrelationship,thehedginginstrumenthasexpiredorbeensold,thecontracthasbeenterminatedorexercised,ornolongermeetstheconditionsfortheapplicationofhedgeaccounting,theapplicationofhedgeaccountingshallbeterminated.
33.SignificantaccountingjudgmentsandestimatesThereisnosignificantchangeontheaccountingjudgmentsandestimates.IV.Taxes
1.MainTaxesandTaxRates
| Types | TaxBasis | TaxRate |
| ValueAddedTax | Afterdeductingtheallowableamountofinputtaxdeductedinthecurrentperiod,thedifferencebetweenthesalesofgoods,taxableservicesandtaxableservicesincomecalculatedinaccordancewiththeprovisionsoftheTaxLawisthetaxablevalue-addedtax. | 1%、3%、5%、6%、9%、10%、13% |
| UrbanMaintenance&ConstructionTax | Accordingtotheactualvalue-addedtax | 7%、5% |
| Extrachargesofeducationfunds | Accordingtotheactualvalue-addedtax | 3% |
| LocalExtraChargesofEducationFunds | Accordingtotheactualvalue-addedtax | 2% |
| CorporateTaxes | Accordingtotaxableincome | 25%、20%、17%、15% |
| PropertyTax | Accordingto70%oforiginalvalueoftherealestate(orrentalincome)asthetaxbase;accordingtotheoriginalvalueoftherealestatededucted30%atatime. | 12%、1.2% |
Representationontaxpayersofdifferententerpriseincometaxrates:
| TaxPayers | IncomeTaxRate |
| HangzhouLin'anChunmanyuanAgriculturalDevelopmentCo.,Ltd.Jingliang(Beijing)FoodMarketingManagementCo.,Ltd. | 20% |
| Jingliang(Singapore)InternationalTradeCo.,Ltd. | 17% |
| BeijingGuchuanBreadFoodCo.,Ltd. | 15% |
2.PreferentialtaxBeijingGuchuanBreadFoodCo.,Ltd.,agrade-3subsidiaryoftheCompany,isahigh-techenterprise.Itenjoysthepreferentialtaxpolicyofpayingenterpriseincometaxatthe15%taxrateaccordingtotherelevantprovisionsofboth“LawofthePeople'sRepublicofChinaonTaxCollectionandAdministration”and“RulesfortheImplementationoftheTaxCollectionandAdministrationLawofthePeople'sRepublicofChina”.Itobtainedthecertificateofhigh-techenterpriseNo.GR202111000657,validuntilSeptember14,2024.AccordingtotheAnnouncementoftheGeneralAdministrationofTaxationoftheMinistryofFinanceonthePolicyofValue-addedTaxDeductionforAdvancedManufacturingEnterprises,AnnouncementNo.43of2023,fromJanuary1,2023toDecember31,2027,advancedmanufacturingenterprisesareallowedtodeduct5%ofthevalue-addedtaxpayableinaccordancewiththecurrentdeductibleinputtax.
Jingliang(Singapore)InternationalTradeCo.,Ltd.,agrade-3subsidiaryoftheCompany,leviestaxesontheprincipleofterritoriality.Thecompanyistaxedontheterritorialityprinciple.AccordingtoSingapore'spreferentialtaxpolicy,thecompanyenjoystaxexemptionplanisasfollows:forthefirstSGD$10,000oftaxableincomeamountthetaxableincomeamountshallbereducedbySGD$7,500;fortheportionbetweenSGD$10,001andSGD$200,000,thetaxableincomeamountshallbereducedbySGD$95,000;FortheportionexceedingSGD$200,001,thetaxableincomeamountshallnotbereduced.Thecompanyshallpayincometaxattherateof17%onthetaxableincomeamountafterexemption.
InaccordancewiththerelevantprovisionsofMinistryofFinanceandStateAdministrationofTaxation“NoticeonPreferentialEnterpriseIncomeTaxPoliciesforEmploymentofPersonswithDisabilities”(CaiShui[2009]No.70),thegrade-3subsidiaryZhejiangXiaoWangZiFoodCo.,Ltd.,thegrade-4subsidiaryHangzhouLin’anXiaotianshiFoodCo.,Ltd.,LinqingXiaoWangZiFoodCo.,Ltd.,andLiaoningXiaoWangZiFoodCo.,Ltd.,:Whereanenterpriseemployspersonswithdisabilities,onthebasisofdeductionaccordingtothewagespaidtothedisabledworkers,itmaydeducttheamountoftaxableincomeaccordingto100%ofthewagespaidtothedisabledworkers.
HangzhouLin’anXiaotianshiFoodCo.,Ltd.,agrade-4subsidiarycompanyoftheCompany,isawelfareenterprise.SinceMay2016,ithasenjoyedthepreferentialVATpolicyofimmediaterefunduponpaymentinPreferentialValue-AddedTaxPoliciesforPromotingtheEmploymentofDisabledPersons(CaiShui[2016]No.52).
Thegrade-4subsidiary-LiaoningXiaoWangZiFoodCo.,Ltd.,accordingtotheSupplementaryAnnouncementonLandUseTaxissuedbyMinistryofFinanceandStateAdministrationofTaxation(89)GSDZNo.140Clause13statesthatpubliclandsuchasmunicipalstreet,square,publicgreenetc.canbeexemptedfromlandusetax,whencomputinglandusetax,theareausedinthecomputationistotalarealesstheareaforafforestandstreet.
Thegrade-2subsidiary,Jingliang(Beijing)FoodMarketingManagementCo.,Ltd.andthegrade-4subsidiaryHangzhouLin’anChunmanyuanAgriculturalDevelopmentCo.,Ltd.,areapplicabletothe
AnnouncementonPreferentialIncomeTaxPoliciesforSmallandMicroEnterprisesandIndividualIndustrialandCommercialHouseholds,theStateAdministrationofTaxationAnnouncementNo.6,2023,theCompanymeetstheconditionsforidentificationofsmallandmicroenterprises,andtheapplicablepreferentialpoliciesfor2024areasfollows:"Thepartoftheannualtaxableincomeofsmall,low-profitenterprisesnotexceeding1millionyuanshallbeincludedinthetaxableincomeamountatareducedrateof25%,andtheenterpriseincometaxshallbepaidatataxrateof20%."
Thegrade-2subsidiary,Jingliang(Beijing)FoodMarketingManagementCo.,Ltd.andHangzhouLin’anChunmanyuanAgriculturalDevelopmentCo.,Ltd.,areapplicabletothefiscalandtaxNo.12[2023]issuedbytheStateAdministrationofTaxationoftheMinistryofFinanceontheFurtherSupportingtheDevelopmentofMicroandSmallEnterprisesandIndividualIndustrialandCommercialHouseholds(No.12[2023],.Thecompanymeetstherequirementsforidentificationasasmallandmicroenterprise,andthepreferentialpoliciesapplicablein2024areasfollows:"Forsmall-scaleVATtaxpayers,smallandlow-profitenterprisesandindividualindustrialandcommercialhouseholds,resourcetax(excludingwaterresourcetaxation),urbanmaintenanceandconstructiontax,propertytax,urbanlandusetax,stamptax(excludingstamptaxonsecuritiestransactions),cultivatedlandoccupationtax,educationfeesurchargeandlocaleducationsurchargemaybereducedwithinthe50%taxrange.
V.NotesonItemsinConsolidatedFinancialStatements
Note:The‘OpeningBalance’oftheperiodreferstoDecember31,2023andthe‘ClosingBalance’oftheperiodreferstoJune30,2024.ThepriorperiodreferstoJanuary1,2023toJune30,2023,andthecurrentperiodreferstoJanuary1,2024toJune30,2024.ThecurrencyunitisRMBYuan.
1.Monetaryfunds
| Items | ClosingBalance | OpeningBalance |
| Cashonhand | 16,474.45 | 9,949.26 |
| BankDeposits | 554,008,559.84 | 533,387,412.58 |
| OtherCurrencyFunds | 95,067,211.84 | 119,931,760.14 |
| DepositintheFinancialCompany | 532,305,996.27 | 890,056,629.88 |
| Total | 1,181,398,242.40 | 1,543,385,751.86 |
| Amongthem:thetotalamountofmoneydepositedabroad | 22,458,482.24 | 3,113,810.75 |
2.Derivativefinancialassets
| Items | ClosingBalance | OpeningBalance |
| Hedginginstrumentfloatingprofitandloss | 31,223,815.72 | 31,684,620.00 |
| Total | 31,223,815.72 | 31,684,620.00 |
3.AccountsReceivable
(1)Disclosedaccordingtoaging
| Aging | ClosingBalance | OpeningBalance |
| Aging | ClosingBalance | OpeningBalance |
| Within1Year(including1year) | 90,220,633.63 | 96,507,223.82 |
| 1to2years(including2years) | 752,867.27 | 762,767.27 |
| 2to3years(including3years) | 18,497,856.00 | 18,497,856.00 |
| 3to4years(including4years) | 7,499,480.04 | 7,499,480.04 |
| 4to5years(including5years) | ||
| Morethan5years | 328,259.50 | 328,259.50 |
| Total | 117,299,096.44 | 123,595,586.63 |
(2)Presentaccordingtothemethodofprovisionforbaddebt
| Type(s) | ClosingBalance | ||||
| BookBalance | BadDebtProvision | BookValue | |||
| Amount | Ratio(%) | Amount | ProvisionRatio(%) | ||
| Separateprovisionforbaddebts | 328,259.50 | 0.28 | 328,259.50 | 100.00 | |
| Portfolioprovisionforbaddebts | 116,970,836.94 | 99.72 | 7,486,954.58 | 6.40 | 109,483,882.36 |
| Total | 117,299,096.44 | —— | 7,815,214.08 | —— | 109,483,882.36 |
（Continued）
| Type(s) | OpeningBalance | ||||
| BookBalance | BadDebtProvision | BookValue | |||
| Amount | Ratio(%) | ProvisionRatio(%) | |||
| Separateprovisionforbaddebts | 328,259.50 | 0.27 | 328,259.50 | 100.00 | |
| Portfolioprovisionforbaddebts | 123,267,327.13 | 99.73 | 7,486,954.58 | 6.07 | 115,780,372.55 |
| Total | 123,595,586.63 | 7,815,214.08 | 115,780,372.55 | ||
A.Separateprovisionforbaddebts
| Name | ClosingBalance | |||
| AccountsReceivable | BadDebtProvision | ProvisionRatio | ProvisionReason | |
| FujianJingxinIndustrialGroupCo.,Ltd | 151,844.00 | 151,844.00 | 100.00 | expectedunrecoverable |
| BeijingGuotaiPinganTianzhuCommercialDevelopmentCo.,Ltd. | 1,809.60 | 1,809.60 | 100.00 | expectedunrecoverable |
| BeijingRongfaLidaGrainandOilTradeCo.,Ltd. | 163,143.00 | 163,143.00 | 100.00 | expectedunrecoverable |
| BeijingGuotaiPinganDepartmentStoreCo.,Ltd | 10,862.90 | 10,862.90 | 100.00 | expectedunrecoverable |
| Name | ClosingBalance | |||
| AccountsReceivable | BadDebtProvision | ProvisionRatio | ProvisionReason | |
| BeijingShunyiLonghuaShoppingMall | 600.00 | 600.00 | 100.00 | expectedunrecoverable |
| Total | 328,259.50 | 328,259.50 | —— | —— |
B.PortfolioprovisionforbaddebtsPortfolioprovisionItemsareasfollows:
| Name | ClosingBalance | ||
| Accountsreceivable | BadDebtProvision | ProvisionRatio | |
| CreditRiskPortfolio | 116,970,836.94 | 7,486,954.58 | 6.40 |
| Total | 116,970,836.94 | 7,486,954.58 | 6.40 |
（Continued）
| Name | OpeningBalance | ||
| Accountsreceivable | BadDebtProvision | ProvisionRatio | |
| CreditRiskPortfolio | 123,267,327.13 | 7,486,954.58 | 6.07 |
| Total | 123,267,327.13 | 7,486,954.58 | 6.07 |
(3)detailsofbaddebtprovision
| Items | OpeningBalance | Theamountchangedfortheperiod | ClosingBalance | |||
| Addition | Withdrawalorreversal | Write-off | Otherchanges | |||
| Baddebtprovisiononindividualbasis | 328,259.50 | 328,259.50 | ||||
| Creditriskprofileportfolio | 7,486,954.58 | 7,486,954.58 | ||||
| Total | 7,815,214.08 | 7,815,214.08 | ||||
(4)AccountsReceivableoftheTop5BalancesCollectedbyDebtorsandcontractualassetssituationsattheEndofthePeriod
| NameofEntity | Accountsreceivable | ContractAssetsEndingBalance | EndingBalanceofReceivablesandContractAssets | ProportionofEndingBalanceofReceivablesandContractAssets（%） | BadDebtProvision |
| TangshanCaofeidianDistrictFinanceBureau | 25,997,336.04 | 25,997,336.04 | 22.16 | 7,449,311.22 | |
| WuhanNationalRiceTradingCenterCo.,Ltd. | 25,689,600.00 | 25,689,600.00 | 21.90 | ||
| HebeiLuanpingHuaduFoodCo.,Ltd | 13,145,439.04 | 13,145,439.04 | 11.21 | ||
| ZhejiangLvqinSupplyChainManagementCo.,Ltd | 8,717,018.25 | 8,717,018.25 | 7.43 |
| NameofEntity | Accountsreceivable | ContractAssetsEndingBalance | EndingBalanceofReceivablesandContractAssets | ProportionofEndingBalanceofReceivablesandContractAssets（%） | BadDebtProvision |
| C.P.RawMaterialSupplyCo.,Ltd. | 4,507,632.84 | 4,507,632.84 | 3.84 | ||
| Total | 78,057,026.17 | 78,057,026.17 | 66.54 | 7,449,311.22 |
4.AccountsreceivableFinancing
(1)Presentedandsortedbycategory
| Item | ClosingBalance | OpeningBalance |
| Notesreceivable | 2,442,328.82 | 2,502,308.90 |
| Total | 2,442,328.82 | 2,502,308.90 |
(2)Theendingnotesreceivablethathavebeenendorsedordiscountedandnotexpiredonbalancesheetdate
| Item | Amountderecognizedasattheendofthereportingperiod | Amountnotderecognizedasattheendofthereportingperiod. |
| Banker'sAcceptance | 1,307,900.00 | |
| Total | 1,307,900.00 |
5.AdvancedPayment
(1)Advancesarepresentedbyage
| Aging | ClosingBalance | OpeningBalance | ||
| Amount | Ratio(%) | Amount | Ratio(%) | |
| Within1year(including1year) | 267,344,829.04 | 100.00 | 87,352,234.48 | 100.00 |
| Total | 267,344,829.04 | 100.00 | 87,352,234.48 | 100.00 |
(2)AdvancepaymentofthetopfiveClosingBalancesbyprepaidobjects
| DebtorName | ClosingBalance | RatioofthetotalClosingBalanceofprepayments(%) |
| TianjinLingangCustomsofthePeople'sRepublicofChina | 63,996,755.07 | 23.94 |
| Bangji(Dongguan)GrainandOilCo.,Ltd. | 40,184,621.14 | 15.03 |
| JiangsuJianghaiGrease&OilGroupCo.Ltd. | 28,767,869.40 | 10.76 |
| XiamenITGAgriculturalProductsCo.,Ltd. | 23,464,521.74 | 8.78 |
| SINOGRAINOILSCorporation | 21,163,895.76 | 7.92 |
| Total | 177,577,663.11 | 66.43 |
6.OtherReceivables
| Item(s) | ClosingBalance | OpeningBalance |
| OtherReceivables | 386,904,030.80 | 303,099,589.59 |
| Total | 386,904,030.80 | 303,099,589.59 |
(1)OtherReceivablesA.Disclosedaccordingtoaging
| Aging | ClosingBalance | OpeningBalance |
| Within1Year(including1year) | 385,104,921.29 | 301,234,542.67 |
| 1to2years(including2years) | 490,899.52 | 641,412.67 |
| 2to3years(including3years) | 216,525.79 | 144,888.00 |
| 3to4years(including4years) | 417,658.21 | 459,888.00 |
| 4to5years(including5years) | 92,026.00 | 88,638.00 |
| Morethan5years | 581,999.99 | 531,999.99 |
| Total | 386,904,030.80 | 303,101,369.33 |
B.Classificationofotherreceivablesbynatureoffunds
| NatureofFunds | BookBalanceatEndofPeriod | BookBalanceatBeginningofYear |
| DepositandGuaranteedDeposit | 382,297,330.22 | 301,372,189.38 |
| IntercourseFundsofUnits | 2,128,121.60 | 502,432.60 |
| EmployeeReceivables | 962,353.24 | 840,868.84 |
| TaxRefundReceivables | 1,182,669.16 | |
| Others | 333,556.58 | 385,878.51 |
| Total | 386,904,030.80 | 303,101,369.33 |
C.Detailsaboutallowanceforbaddebt
| Provisionforbaddebt | Stage1 | Stage2 | Stage3 | Total |
| Expectedcreditlossinthenext12months | Expectedcreditlossforthewholeperiod(nocreditimpairment) | Expectedcreditlossforthewholeperiod(withcreditimpairment) | ||
| Amounton1stJanuary2024 | 1,779.74 | 1,779.74 | ||
| Carryingamounton1stJanuary2024thatinthisperiod: | ||||
| ——GetintoStage2 | ||||
| ——GetintoStage3 | ||||
| ——GetbacktoStage2 | ||||
| ——GetbacktoStage1 | ||||
| Provisionfortheperiod | -1,779.74 | -1,779.74 | ||
| Reversefortheperiod | ||||
| Transferfortheperiod | ||||
| Writeofffortheperiod |
| Provisionforbaddebt | Stage1 | Stage2 | Stage3 | Total |
| Expectedcreditlossinthenext12months | Expectedcreditlossforthewholeperiod(nocreditimpairment) | Expectedcreditlossforthewholeperiod(withcreditimpairment) | ||
| Otherchanges | ||||
| AmountonJune30th,2024 |
D.Detailsofbaddebtprovision
| Type | Carryingamountatthebeginning | Amountchangesfortheperiod | Carryingamountattheend | |||
| Addition | Withdrawalorreversal | Write-off | Otherchanges | |||
| CreditRiskPortfolio | 1,779.74 | -1,779.74 | ||||
| Total | 1,779.74 | -1,779.74 | ||||
E.Otherreceivablesaccordingtotopfiveofbalanceatendofperiodcollectedbydebtors
| NameofOrganization | BalanceatEndofPeriod | ProportioninoverallClosingBalanceofotherreceivables(%) | NatureofFunds | Aging | ClosingBalanceofbaddebtreserves |
| ZhongtianFuturesCo.Ltd | 114,029,471.85 | 29.47 | GuaranteedDeposit | Within1year | |
| CITICFuturesCo.,Ltd. | 89,893,896.44 | 23.23 | GuaranteedDeposit | Within1year | |
| ChinaGrainStorageandTransportationCo.,Ltd. | 80,283,920.00 | 20.75 | GuaranteedDeposit | Within1year | |
| HaitongFuturesCo.,Ltd | 40,716,550.69 | 10.52 | GuaranteedDeposit | Within1year | |
| BeijingCapitalFuturesCo.,Ltd | 25,761,664.50 | 6.66 | GuaranteedDeposit | Within1year | |
| Total | 350,685,503.48 | 90.64 |
7.Inventory
(1)InventoryCategory
| Items | ClosingBalance | ||
| BookBalance | InventoryFallingPriceReserves/Provisionforimpairmentofcontractperformancecost. | BookValue | |
| RawMaterials | 272,754,976.75 | 23,955.82 | 272,731,020.93 |
| Inventorygoods | 1,085,540,832.20 | 170,341.46 | 1,085,370,490.74 |
| RevolvingMaterials | 4,976,986.93 | 4,976,986.93 | |
| Goodsandmaterialsintransit | 823,783,094.37 | 823,783,094.37 | |
| Total | 2,187,055,890.25 | 194,297.28 | 2,186,861,592.97 |
（Continued）
| Items | OpeningBalance | ||
| BookBalance | InventoryFallingPriceReserves/Provisionforimpairmentofcontractperformancecost. | BookValue | |
| RawMaterials | 324,815,755.86 | 82,063.38 | 324,733,692.48 |
| Inventorygoods | 1,122,785,703.06 | 1,743,754.31 | 1,121,041,948.75 |
| RevolvingMaterials | 5,049,542.63 | 5,049,542.63 | |
| Goodsandmaterialsintransit | 591,034,959.25 | 591,034,959.25 | |
| Total | 2,043,685,960.80 | 1,825,817.69 | 2,041,860,143.11 |
(2)InventoryFallingPriceReservesandprovisionforimpairmentofcontractperformancecosts
| Items | BalanceatBeginningofYear | IncreasedAmountsintheCurrentPeriod | |
| Accrual | Others | ||
| Rawmaterial | 82,063.38 | ||
| InventoryGoods | 1,743,754.31 | ||
| Intotal | 1,825,817.69 | ||
(Continued)
| Items | DecreasedAmountsintheCurrentPeriod | BalanceatEndofPeriod |
RecoverorChargeOff
| RecoverorChargeOff | Others | ||
| Rawmaterial | 58,107.56 | 23,955.82 | |
| InventoryGoods | 1,573,412.85 | 170,341.46 | |
| Intotal | 1,631,520.41 | 194,297.28 |
(3)InventoryGoodslistedbymajorproducttype
| Items | ClosingBalance | ||
| BookBalance | FallingPriceReserves | BookValue | |
| Greaseandoils | 1,069,557,817.71 | 170,341.46 | 1,069,387,476.25 |
| Food | 15,983,014.49 | 15,983,014.49 | |
| Total | 1,085,540,832.20 | 170,341.46 | 1,085,370,490.74 |
(Continued)
| Items | OpeningBalance | ||
| BookBalance | FallingPriceReserves | BookValue | |
| Greaseandoils | 1,097,527,087.36 | 1,598,094.34 | 1,095,928,993.02 |
| Food | 25,258,615.70 | 145,659.97 | 25,112,955.73 |
| Total | 1,122,785,703.06 | 1,743,754.31 | 1,121,041,948.75 |
8.Non-currentassetsduewithinoneyear
| Items | BalanceatEndofPeriod | BalanceatBeginningofPeriod |
| One-yeartermdeposits | 22,188,083.34 | |
| Intotal | 22,188,083.34 |
9.OtherCurrentAssets
| Items | BalanceatEndofPeriod | BalanceatBeginningofPeriod |
| PendingDeductVATInputTax | 52,271,021.82 | 57,549,582.61 |
| Pre-paidTaxesandFees | 37,642,598.24 | 16,226,031.95 |
| InputTaxtoBeCertified | 42,301.32 | 202,103.63 |
| FairValueChangesofItemsTrappedatHedging | 330,613,399.83 | 238,358,924.24 |
| Intotal | 420,569,321.21 | 312,336,642.43 |
10.Long-termEquityInvestmentDetails
| InvestedEntity | BalanceatBeginningofYear | IncreaseorDecreaseintheCurrentPeriod | ||||
| AdditionalInvestment | NegativeInvestment | ConfirmedProfitandLossonInvestmentunderEquityMethod | Adjustmentofothercomprehensiveincome | Otherchangesinequity | ||
| 1.CooperativeEnterprise | 128,393,543.26 | 2,313,991.99 | ||||
| BeijingCHIATAIFeedmillCo.,Limited | 128,393,543.26 | 2,313,991.99 | ||||
| Sub-total | 128,393,543.26 | 2,313,991.99 | ||||
| 2.JointVenture | 126,529,102.15 | 8,561,434.89 | ||||
| ChinaGrainReserves(Tianjin)WarehouseLogisticsCo.,Ltd. | 120,176,935.53 | 8,606,185.99 | ||||
| JingliangMissmeCateringManagement(Beijing)Co.,Ltd. | 6,352,166.62 | -44,751.10 | ||||
| Sub-total | 126,529,102.15 | 8,561,434.89 | ||||
| Total | 254,922,645.41 | 10,875,426.88 | ||||
(Continued)
| investedentity | IncreaseorDecreaseintheCurrentPeriod | BalanceatEndofPeriod | ClosingBalanceofImpairmentReserves | ||
| AnnouncetoDistributeCase | AccrualofImpairment | Others | |||
| DividendsorProfits | Reserves | |||
| 1.CooperativeEnterprise | 130,707,535.25 | |||
| BeijingCHIATAIFeedmillCo.,Limited | 130,707,535.25 | |||
| Sub-total | 130,707,535.25 | |||
| 2.JointVenture | 135,090,537.04 | |||
| ChinaGrainReserves(Tianjin)WarehouseLogisticsCo.,Ltd. | 128,783,121.52 | |||
| JingliangMissmeCateringManagement(Beijing)Co.,Ltd. | 6,307,415.52 | |||
| Sub-total | 135,090,537.04 | |||
| Total | 265,798,072.29 |
11.OtherequityinstrumentsinvestmentDetails
| Item | OpeningBalance | ChangesintheCurrentPeriod | ClosingBalance | ||||
| AdditionalInvestment | Disinvestment | Profitsincludedinothercomprehensiveincomeinthecurrentperiod. | Lossesincludedinothercomprehensiveincomeinthecurrentperiod. | Others | |||
| ChongqinglongjinbaonetworktechnologyCo.LTD | 20,000,000.00 | 20,000,000.00 | |||||
| Total | 20,000,000.00 | 20,000,000.00 | |||||
(Continued)
| Item | Dividendrevenuerecognizedincurrentperiod | .Accumulatedprofitrecognizedinothercomprehensiveincome | .Accumulatedlossesrecognizedinothercomprehensiveincome | DesignatedatFairValueMeasurementandReasonsonChangesincludedinOtherComprehensiveIncome |
| ChongqinglongjinbaonetworktechnologyCo.LTD | Non-tradingequityinstrument | |||
| Total | / |
12.InvestmentRealEstate
(1)InvestmentRealEstateAdoptingCostMeasurementModel
| Items | Buildings | LandUseRight | Total |
| One.OriginalBookValue | |||
| 1.BalanceatBeginningofYear | 62,845,234.00 | 576,510.00 | 63,421,744.00 |
| 2.IncreasedAmountsintheCurrentPeriod | |||
| —Inventory\FixedAssetsConstructioninprogresstransferredinto | |||
| 3.DecreasedAmountsintheCurrentPeriod | |||
| —BusinessCombinationDecrease | |||
| 4.BalanceatEndofPeriod | 62,845,234.00 | 576,510.00 | 63,421,744.00 |
| Two.AccumulatedImpairmentandAccumulatedAmortization | |||
| 1.BalanceatBeginningofYear | 32,579,939.08 | 208,504.45 | 32,788,443.53 |
| 2.IncreasedAmountsintheCurrentPeriod | 987,930.66 | 5,765.10 | 993,695.76 |
| —AccrualorAmortization | 987,930.66 | 5,765.10 | 993,695.76 |
| —Others | |||
| 3.DecreasedAmountsintheCurrentPeriod | |||
| —BusinessCombinationDecrease | |||
| 4.BalanceatEndofPeriod | 33,567,869.74 | 214,269.55 | 33,782,139.29 |
| Three.ImpairmentReserves | |||
| 1.BalanceatBeginningofYear | 10,587,796.70 | 10,587,796.70 | |
| 2.BalanceatEndofPeriod | 10,587,796.70 | 10,587,796.70 | |
| Four.BookValue | |||
| 1.BookValueatEndofPeriod | 18,689,567.56 | 362,240.45 | 19,051,808.01 |
| 2.BookValueatBeginningofYear | 19,677,498.22 | 368,005.55 | 20,045,503.77 |
13.FixedAssets
| Items | BalanceatEndofPeriod | BalanceatBeginningofPeriod |
| FixedAssets | 917,556,139.25 | 939,548,012.91 |
| DisposalofFixedAssets | ||
| Intotal | 917,556,139.25 | 939,548,012.91 |
FixedAssetsSituation
| Items | Buildings | MachineryEquipment | TransportationEquipment | ElectronicEquipment | OfficeEquipment | Others | Total |
| One.OriginalBookValue | |||||||
| 1.BalanceatBeginningofYear | 1,064,558,047.21 | 795,460,322.57 | 20,074,431.07 | 14,133,767.59 | 7,545,793.53 | 1,385,077.43 | 1,903,157,439.40 |
| 2.IncreasedAmountsintheCurrentPeriod | 1,216,887.26 | 23,443,233.90 | 812,127.60 | 276,319.61 | 174,321.05 | 25,922,889.42 |
| Items | Buildings | MachineryEquipment | TransportationEquipment | ElectronicEquipment | OfficeEquipment | Others | Total |
| (1)Purchase | 91,284.40 | 2,884,547.80 | 812,127.60 | 242,458.23 | 98,214.86 | 4,128,632.89 | |
| (2)Roll-inofProjectunderConstruction | 1,125,602.86 | 20,558,686.10 | 33,861.38 | 76,106.19 | 21,794,256.53 | ||
| 3.DecreasedAmountsintheCurrentPeriod | 1,699,296.90 | 1,553,250.61 | 267,996.51 | 3,260.00 | 3,523,804.02 | ||
| (1)DisposalorScrap | 1,699,296.90 | 1,553,250.61 | 267,996.51 | 3,260.00 | 3,523,804.02 | ||
| DecreaseonBusinessCombinationScope | |||||||
| Othertransferredout | |||||||
| 4.BalanceatEndofPeriod | 1,065,774,934.47 | 817,204,259.57 | 19,333,308.06 | 14,142,090.69 | 7,716,854.58 | 1,385,077.43 | 1,925,556,524.80 |
| Two.AccumulatedImpairment | |||||||
| 1.BalanceatBeginningofYear | 440,697,875.26 | 487,687,828.69 | 11,852,350.93 | 9,595,147.99 | 4,305,164.06 | 350,995.94 | 954,489,362.87 |
| 2.IncreasedAmountsintheCurrentPeriod | 18,983,479.38 | 26,195,647.62 | 930,855.08 | 651,955.82 | 387,431.11 | 34,300.59 | 47,183,669.60 |
| (1)Accrual | 18,983,479.38 | 26,195,647.62 | 930,855.08 | 651,955.82 | 387,431.11 | 34,300.59 | 47,183,669.60 |
| 3.DecreasedAmountsintheCurrentPeriod | 1,059,428.81 | 1,475,588.08 | 254,596.65 | 3,097.00 | 2,792,710.54 | ||
| (1)DisposalorScrap | 1,059,428.81 | 1,475,588.08 | 254,596.65 | 3,097.00 | 2,792,710.54 | ||
| DecreaseonBusinessCombinationScope | |||||||
| Othertransferredout | |||||||
| 4.BalanceatEndofPeriod | 459,681,354.64 | 512,824,047.50 | 11,307,617.93 | 9,992,507.16 | 4,689,498.17 | 385,296.53 | 998,880,321.93 |
| Three.ImpairmentReserves | |||||||
| 1.BalanceatBeginningofYear | 9,047,959.13 | 72,104.49 | 9,120,063.62 | ||||
| 4.BalanceatEndofPeriod | 9,047,959.13 | 72,104.49 | 9,120,063.62 | ||||
| Four.BookValue | |||||||
| 1.BookValueatEndofPeriod | 597,045,620.70 | 304,308,107.58 | 8,025,690.13 | 4,149,583.53 | 3,027,356.41 | 999,780.90 | 917,556,139.25 |
| 2.BookValueatBeginningofYear | 614,812,212.82 | 307,700,389.39 | 8,222,080.14 | 4,538,619.60 | 3,240,629.47 | 1,034,081.49 | 939,548,012.91 |
14.ProjectunderConstruction
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| ProjectunderConstruction | 47,201,479.97 | 59,094,902.29 |
| Total | 47,201,479.97 | 59,094,902.29 |
(1)ProjectunderConstructionA.SituationofProjectunderConstruction
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear | ||||
| BookBalance | ImpairmentReserves | BookValue | BookBalance | ImpairmentReserves | BookValue | |
| Caofeidian | 7,786,834.64 | 7,786,834.64 | 7,773,303.43 | 7,773,303.43 | ||
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear | ||||
| BookBalance | ImpairmentReserves | BookValue | BookBalance | ImpairmentReserves | BookValue | |
| comprehensivebondedzonefeedprocessingprojectautomationlineproject | ||||||
| Soybeanextrudingandrumensoybeanmealprocessingproject | 24,935,424.20 | 24,935,424.20 | 23,078,937.34 | 23,078,937.34 | ||
| productionlineoffriedpotatochips | 8,392,300.91 | 8,392,300.91 | ||||
| SlopetreatmentprojectofNo.3plant | 6,969,126.85 | 6,969,126.85 | 6,969,126.85 | 6,969,126.85 | ||
| The3rdrecreationfactorybakedpotatoNo.5FlexiblePackingAutomationLineTransformationProject | 2,556,466.47 | 2,556,466.47 | ||||
| The1strecreationfactorybakedpotatoNo.3FlexiblePackingAutomationLineTransformationProject | 2,497,033.51 | 2,497,033.51 | ||||
| The1strecreationfactorybakedpotatoNo.4FlexiblePackingAutomationLineTransformationProject | 1,619,325.55 | 1,619,325.55 | ||||
| Odorcontrolproject | 1,585,321.11 | 1,585,321.11 | 1,585,321.11 | 1,585,321.11 | ||
| The3rdrecreationfactorybakedpotatoNo.8LineOvenTransformationProject | 1,240,093.10 | 1,240,093.10 | ||||
| JingliangHainanYangPuGrease&OilProcessingProject | 1,823,718.65 | 1,823,718.65 | 434,369.04 | 434,369.04 | ||
| Snowcone | 833,714.41 | 833,714.41 | ||||
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear | ||||
| BookBalance | ImpairmentReserves | BookValue | BookBalance | ImpairmentReserves | BookValue | |
| WorkshopCategoryExpansionProgram | ||||||
| Others | 3,267,340.11 | 3,267,340.11 | 2,948,624.98 | 2,948,624.98 | ||
| Total | 47,201,479.97 | 47,201,479.97 | 59,094,902.29 | 59,094,902.29 | ||
B.ChangeConditionofImportantEngineeringProjectsunderConstructionintheCurrentPeriod
| ProjectName | BudgetAmount | BalanceatBeginningofYear | IncreasedAmountsintheCurrentPeriod | Roll-inFixedAssetsAmountintheCurrentPeriod | OtherDecreasedAmountsintheCurrentPeriod | BalanceatEndofPeriod |
| Caofeidiancomprehensivebondedzonefeedprocessingprojectautomationline | 7,184,400.00 | 7,773,303.43 | 13,531.21 | 7,786,834.64 | ||
| Soybeanextrudingandrumensoybeanmealprocessingproject | 49,429,300.00 | 23,078,937.34 | 1,856,486.86 | 24,935,424.20 | ||
| Productionlineoffriedpotatochips | 9,700,000.00 | 8,392,300.91 | 71,735.48 | 8,464,036.39 | ||
| SlopetreatmentprojectofNo.3plant | 17,110,000.00 | 6,969,126.85 | 6,969,126.85 | |||
| JingliangHainanYangPuGrease&OilProcessingProject | 661,324,100.00 | 434,369.04 | 1,389,349.61 | 1,823,718.65 | ||
| Total | —— | 46,648,037.57 | 3,331,103.16 | 8,464,036.39 | 41,515,104.34 |
(Continued)
| ProjectName | ProportionofaccumulatedinputoftheprojectonBudgetedAmount（%） | ProgressoftheProject | AccumulatedAmountofInterestCapitalization | Including:InterestCapitalizationAmountoccurredinCurrentPeriod | InterestCapitalizationRateintheCurrentPeriod（%） | SourcesofCapital |
| Caofeidiancomprehensivebondedzonefeedprocessingprojectautomationline | 108.39 | 99.00% | EquityFund |
| ProjectName | ProportionofaccumulatedinputoftheprojectonBudgetedAmount（%） | ProgressoftheProject | AccumulatedAmountofInterestCapitalization | Including:InterestCapitalizationAmountoccurredinCurrentPeriod | InterestCapitalizationRateintheCurrentPeriod（%） | SourcesofCapital |
| Soybeanextrudingandrumensoybeanmealprocessingproject | 50.45 | 85.00% | EquityFund | |||
| Productionlineoffriedpotatochips | 87.26 | 100.00% | EquityFund | |||
| SlopetreatmentprojectofNo.3plant | 40.73 | 80.00% | EquityFund | |||
| JingliangHainanYangPuGrease&OilProcessingProject | 0.28 | 0.28% | EnterpriseSelf-funded | |||
| Total | —— | —— | —— | —— |
15.Right-of-useAssetDetails
| Items | Buildings | LandUseRight | TransportationEquipment | Intotal |
| OneOriginalBookValue | ||||
| 1.BalanceatBeginningofYear | 121,031,786.76 | 5,648,400.00 | 607,367.22 | 127,287,553.98 |
| 2.IncreasedAmountsintheCurrentPeriod | 2,414,106.37 | 2,414,106.37 | ||
| (1)Lease | 2,414,106.37 | 2,414,106.37 | ||
| 3.DecreasedAmountsintheCurrentPeriod | 2,098,724.66 | 2,098,724.66 | ||
| (1)Expirationoftheleaseorchangetheleaseterm | 2,098,724.66 | 2,098,724.66 | ||
| 4.BalanceatEndofPeriod | 121,347,168.47 | 5,648,400.00 | 607,367.22 | 127,602,935.69 |
| TwoAccumulatedDepreciation | ||||
| 1.BalanceatBeginningofYear | 26,870,944.28 | 1,016,712.00 | 167,593.92 | 28,055,250.20 |
| 2.IncreasedAmountsintheCurrentPeriod | 12,238,164.16 | 56,484.00 | 47,239.26 | 12,341,887.42 |
| (1)Accrual | 12,238,164.16 | 56,484.00 | 47,239.26 | 12,341,887.42 |
| 3.DecreasedAmountsintheCurrentPeriod | 2,098,724.66 | 2,098,724.66 | ||
| —Disposal | 2,098,724.66 | 2,098,724.66 | ||
| —OtherTransferredOut | ||||
| 4.BalanceatEndofPeriod | 37,010,383.78 | 1,073,196.00 | 214,833.18 | 38,298,412.96 |
| ThreeImpairmentReserves | ||||
| FourBookValue |
| Items | Buildings | LandUseRight | TransportationEquipment | Intotal |
| 1.BookValueatEndofPeriod | 84,336,784.69 | 4,575,204.00 | 392,534.04 | 89,304,522.73 |
| 2.BookValueatBeginningofYear | 94,160,842.48 | 4,631,688.00 | 439,773.30 | 99,232,303.78 |
16.IntangibleAssetsIntangibleAssetsSituation
| Items | LandUseRight | Software | TrademarkRight | Intotal |
| OneOriginalBookValue | ||||
| 1.BalanceatBeginningofYear | 415,718,033.78 | 5,370,415.44 | 154,841,200.00 | 575,929,649.22 |
| 2.IncreasedAmountsintheCurrentPeriod | 17,735.85 | 17,735.85 | ||
| (1)Purchase | 17,735.85 | 17,735.85 | ||
| —Others | ||||
| 3.DecreasedAmountsintheCurrentPeriod | ||||
| —BusinessCombinationDecrease | ||||
| —OtherTransferredOut | ||||
| 4.BalanceatEndofPeriod | 415,718,033.78 | 5,388,151.29 | 154,841,200.00 | 575,947,385.07 |
| TwoAccumulatedAmortization | ||||
| 1.BalanceatBeginningofYear | 79,667,120.07 | 4,408,533.97 | 79,177,149.25 | 163,252,803.29 |
| 2.IncreasedAmountsintheCurrentPeriod | 4,542,322.72 | 129,821.46 | 3,856,962.96 | 8,529,107.14 |
| (1)Accrual | 4,542,322.72 | 129,821.46 | 3,856,962.96 | 8,529,107.14 |
| 3.DecreasedAmountsintheCurrentPeriod | ||||
| —BusinessCombinationDecrease | ||||
| —OtherTransferredOut | ||||
| 4.BalanceatEndofPeriod | 84,209,442.79 | 4,538,355.43 | 83,034,112.21 | 171,781,910.43 |
| ThreeImpairmentReserves | ||||
| FourBookValue | ||||
| 1.BookValueatEndofPeriod | 331,508,590.99 | 849,795.86 | 71,807,087.79 | 404,165,474.64 |
| 2.BookValueatBeginningofYear | 336,050,913.71 | 961,881.47 | 75,664,050.75 | 412,676,845.93 |
17.Goodwill
(1)OriginalBookValueofGoodwill
| NameofInvestedEntityorItemsFormingGoodwill | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | DecreaseintheCurrentPeriod | BalanceatEndofPeriod |
| FormedbyEnterprise | Disposal |
| Merger | ||||
| AcquirestocksharesofZhejiangXiaowangziFoodCo.,Ltd. | 191,394,422.51 | 191,394,422.51 | ||
| Intotal | 191,394,422.51 | 191,394,422.51 |
(2)Relevantinformationaboutthegrouporgroupsofassetsthatincludegoodwill
| Name | CompositionandBasisofGroupofAssetsorGroupbelongs | OperationSegmentandBasisbelongs | WhetherconsistentwithPriorPeriod |
| AcquirestocksharesofZhejiangXiaowangziFoodCo.,Ltd. | GroupofAssetscomprisesofGoodwillrelatedassets，theflow-incashgeneratedshallbeindependentofthosebyothergroupassets. | Assetsmainlyusedfoodprocessing,belongtotheFoodSegment | Yes |
18.Long-termUnamortizedExpenses
| Items | BalanceatBeginningofYear | IncreasedAmountsintheCurrentPeriod | AmortizedAmountsintheCurrentPeriod | OtherDecreasedAmounts | BalanceatEndofPeriod |
| Reconstructionofmajuqiaoplant | 12,865,755.89 | 337,094.04 | 12,528,661.85 | ||
| Maintenanceofleasedassets | 2,085,375.43 | 72,650.94 | 2,012,724.49 | ||
| Factorycompartmentmaintenance | 760,612.42 | 49,206.89 | 101,490.12 | 708,329.19 | |
| Housingrenovation | 1,943,993.08 | 394,180.68 | 190,355.84 | 2,147,817.92 | |
| Total | 17,655,736.82 | 443,387.57 | 701,590.94 | 17,397,533.45 |
19.DeferredIncomeTaxAssets/DeferredIncomeTaxLiabilities
(1)DeferredIncomeTaxAssetsNotBeingOffset
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear | ||
| DeductibleTemporaryDifference | DeferredIncomeTaxAssets | DeductibleTemporaryDifference | DeferredIncomeTaxAssets | |
| AssetImpairmentReserves | 290,095.28 | 72,523.81 | 1,906,843.70 | 476,710.92 |
| DeductibleLoss | 196,701,038.40 | 49,175,259.60 | 190,924,419.06 | 47,731,104.76 |
| Leaseliabilities | 84,702,417.52 | 21,175,604.38 | 95,982,927.96 | 23,995,732.00 |
| CreditimpairmentLoss | 7,777,570.72 | 1,944,392.67 | 7,816,993.82 | 1,954,248.46 |
| DeferredIncome | 12,600,638.84 | 3,150,159.71 | 12,600,638.84 | 3,150,159.71 |
| Wagespayable | 5,677,134.00 | 1,419,283.50 | 5,677,134.00 | 1,419,283.50 |
| ValuationofFinancialInstrumentsandDerivativeFinancialInstruments | 12,433,441.20 | 3,108,360.30 | ||
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear | ||
| DeductibleTemporaryDifference | DeferredIncomeTaxAssets | DeductibleTemporaryDifference | DeferredIncomeTaxAssets | |
| Rebateoncontracts | 1,112,100.00 | 278,025.00 | 1,112,100.00 | 278,025.00 |
| Intotal | 308,860,994.76 | 77,215,248.67 | 328,454,498.58 | 82,113,624.65 |
(2)DetailsofDeferredIncomeTaxLiabilitiesNotBeingOffset
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear | ||
| TaxableTemporaryDifference | DeferredIncomeTaxLiabilities | TaxableTemporaryDifference | DeferredIncomeTaxLiabilities | |
| ValuationofFinancialInstrumentsandDerivativeFinancialInstruments | 288,957,465.79 | 72,239,366.45 | 252,306,904.70 | 63,076,726.18 |
| Valuationandappreciationofassetsinmergerofenterprisesnotunderthesamecontrol | 129,963,606.68 | 32,490,901.67 | 135,119,584.58 | 33,779,896.15 |
| Userightassets | 82,325,029.38 | 20,581,257.34 | 94,160,842.48 | 23,540,210.63 |
| Total | 501,246,101.85 | 125,311,525.46 | 481,587,331.76 | 120,396,832.96 |
(3)DetailsofDeferredIncomeTaxLiabilitiesafterOffset
| Items | Offsetamountofdeferredtaxassetsandliabilities | Carryingamountafteroffsettingbetweendeferredtaxassetsandliabilities | offsetamountofdeferredtaxassetsandliabilitiesattheendoflastperiod | Carryingamountafteroffsettingbetweendeferredtaxassetsandliabilitiesattheendoflastperiod |
| Deferredtaxasset | 71,762,861.32 | 5,452,387.35 | 73,314,709.43 | 8,798,915.22 |
| Deferredtaxliabilities | 71,762,861.32 | 53,548,664.14 | 73,314,709.43 | 47,082,123.53 |
(4)DetailsofDeferredIncomeTaxAssetsNotBeingConfirmed
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| Deductibletemporarydifferences | 19,626,834.31 | 19,626,834.31 |
| DeductibleLoss | 278,526,782.97 | 243,290,588.25 |
| Intotal | 298,153,617.28 | 262,917,422.56 |
(5)Deductiblelossondeferredincometaxassetsnotbeingconfirmedwillbedueatthefollowingyears
| Year | BalanceatEndofPeriod | BalanceatBeginningofYear |
| 2024 | 28,130,103.97 | 38,012,198.48 |
| 2025 | 25,114,592.05 | 25,114,592.05 |
| 2026 | 37,744,225.64 | 37,744,225.64 |
| 2027 | 62,607,514.09 | 63,628,940.88 |
| Year | BalanceatEndofPeriod | BalanceatBeginningofYear |
| 2028 | 78,790,631.20 | 78,790,631.20 |
| 2029 | 46,139,716.02 | |
| Total | 278,526,782.97 | 243,290,588.25 |
20.OtherNon-currentAssets
| Items | ClosingBalance | OpeningBalance | ||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
| softwarepurchaseadvancement | 3,168,200.00 | 3,168,200.00 | 2,833,950.00 | 2,833,950.00 | ||
| Three-yeartermdeposit | 10,541,666.66 | 10,541,666.66 | 10,390,000.00 | 10,390,000.00 | ||
| Total | 13,709,866.66 | 13,709,866.66 | 13,223,950.00 | 13,223,950.00 | ||
21.Assetitemswheretheownershiportherightofuseisrestricted
| Items | EndingBalance | |||
| Bookbalance | Bookvalue | Restrictedtype' | Constraints | |
| MonetaryFunds | 11,398,049.13 | 11,398,049.13 | Freezingamountduetolawsuit,Banker'sletterofguarantee,deposit,etc. | Freezingamountduetolawsuit,Banker'sletterofguarantee,depositetc. |
| FixedAssets | 21,719,189.02 | 4,787,783.94 | Freezingamountduetolawsuit | Freezingamountduetolawsuit |
| InvestmentRealEstates | 19,594,735.46 | 5,027,932.91 | Freezingamountduetolawsuit | Freezingamountduetolawsuit |
| Intotal | 52,711,973.61 | 21,213,765.98 | / | / |
(Continued)
| Item | BeginningBalance | |||
| Bookbalance | Bookvalue | Restrictedtype' | Constraints | |
| MonetaryFunds | 2,746,671.91 | 2,746,671.91 | Banker'sletterofguarantee,deposit,etc. | Banker'sletterofguarantee,deposit,etc. |
| FixedAssets | 21,719,189.02 | 4,994,664.88 | Freezingamountduetolawsuit | Freezingamountduetolawsuit |
| InvestmentRealEstates | 19,594,735.46 | 5,198,514.17 | Freezingamountduetolawsuit | Freezingamountduetolawsuit |
| Intotal | 44,060,596.39 | 12,939,850.96 | / | / |
22.Short-termBorrowingsClassificationofShort-termBorrowings
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| Debtofhonour | 1,036,717,261.11 | 1,163,479,691.67 |
| Intotal | 1,036,717,261.11 | 1,163,479,691.67 |
23.Derivativefinancialliability
| Item | ClosingBalance | OpeningBalance |
| Changesinfairvalueofhedginginstruments | 15,805,393.88 | |
| Total | 15,805,393.88 |
24.AccountsPayableAccountsPayablePresentation
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| MaterialFundsPayable | 54,559,950.19 | 67,912,958.96 |
| ProjectFundsPayable | 1,312,278.91 | 3,013,449.11 |
| EquipmentFundsPayable | 4,266,240.40 | 3,002,660.91 |
| ConsultancyServices | 2,563,467.22 | 3,283,467.22 |
| RentalFee | 1,378,125.00 | 650,000.00 |
| StorageCharge | 5,129,772.80 | 2,752,000.00 |
| Others | 1,397,190.28 | 1,860,287.64 |
| Intotal | 70,607,024.80 | 82,474,823.84 |
25.AdvancepaymentAdvancepaymentPresented
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| Advancecollectionofrent | 1,800,138.12 | 1,075,801.34 |
| Intotal | 1,800,138.12 | 1,075,801.34 |
26.ContractliabilitiesClassificationofcontractliabilities
27.WagesPayable
(1)WagesPayablePresented
| Items | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | DecreaseintheCurrentPeriod | BalanceatEndofPeriod |
Items
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| Loans | 619,028,078.42 | 411,012,990.81 |
| Services | 19,801.98 | |
| Others | 426.29 | |
| Intotal | 619,028,078.42 | 411,033,219.08 |
| Short-termCompensation | 30,758,435.00 | 133,390,483.35 | 149,971,192.38 | 14,177,725.97 |
| After-serviceWelfare-SetupESPliabilities | 1,944,123.07 | 19,183,912.20 | 18,938,406.16 | 2,189,629.11 |
| DismissionWelfare | 76,791.04 | 76,791.04 | ||
| Intotal | 32,702,558.07 | 152,651,186.59 | 168,986,389.58 | 16,367,355.08 |
(2)Short-termCompensationPresented
| Items | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | DecreaseintheCurrentPeriod | BalanceatEndofPeriod |
| 1.Wage,Bonus,AllowanceandSubsidy | 26,776,551.56 | 105,190,699.26 | 122,292,867.29 | 9,674,383.53 |
| 2.WelfareExpenseofEmployee | 18,700.00 | 3,608,971.82 | 3,432,745.50 | 194,926.32 |
| 3.SocialInsuranceExpense | 932,905.62 | 10,685,246.64 | 10,559,280.30 | 1,058,871.96 |
| Amongthem:MedicalInsurancePremiums | 863,418.27 | 9,729,586.47 | 9,622,039.65 | 970,965.09 |
| IndustrialInjuryInsurancePremiums | 53,651.72 | 773,377.55 | 756,613.50 | 70,415.77 |
| BirthInsurancePremiums | 15,835.63 | 182,282.62 | 180,627.15 | 17,491.10 |
| 4.HousingProvidentFunds | 114,997.49 | 8,417,025.00 | 8,420,512.00 | 111,510.49 |
| 5.LaborUnionExpenseandPersonnelEducationFund | 2,695,150.33 | 2,306,336.92 | 2,231,611.29 | 2,769,875.96 |
| 6.OtherShort-termwages | 220,130.00 | 3,182,203.71 | 3,034,176.00 | 368,157.71 |
| Intotal | 30,758,435.00 | 133,390,483.35 | 149,971,192.38 | 14,177,725.97 |
(3)StatedDrawingsPlanPresented
| Items | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | DecreaseintheCurrentPeriod | BalanceatEndofPeriod |
| 1.BasicPensionInsurance | 1,848,825.70 | 16,517,674.95 | 16,291,473.91 | 2,075,026.74 |
| 2.UnemploymentInsuranceExpense | 49,574.79 | 541,507.67 | 535,896.53 | 55,185.93 |
| 3.EnterpriseAnnuityCharges | 45,722.58 | 2,124,729.58 | 2,111,035.72 | 59,416.44 |
| Total | 1,944,123.07 | 19,183,912.20 | 18,938,406.16 | 2,189,629.11 |
28.TaxesandFeesPayable
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| VAT | 3,672,452.79 | 1,535,814.90 |
| CorporateIncomeTax | 4,822,889.67 | 4,643,368.25 |
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| UrbanMaintenanceandConstructionTax | 357,425.10 | 184,732.38 |
| HousePropertyTax | 976,287.01 | 2,317,671.84 |
| LandUseTax | 370,587.69 | 985,671.07 |
| IndividualIncomeTax | 494,925.66 | 1,655,912.41 |
| StampTax | 344,887.74 | 152,358.18 |
| EducationalSurtax(Includinglocaleducationalsurcharge） | 222,410.12 | 99,058.19 |
| Environmentalprotectiontax | 2,512.01 | 2,805.25 |
| Intotal | 11,264,377.79 | 11,577,392.47 |
29.OtherAccountsPayable
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| InterestPayable | 20,000,000.00 | 21,082,795.47 |
| DividendsPayable | 3,213,342.90 | 3,213,302.88 |
| OtherAccountsPayable | 48,634,943.60 | 55,322,100.43 |
| Intotal | 71,848,286.50 | 79,618,198.78 |
(1)InterestPayable
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| LoanInterestbetweenEnterprises | 20,000,000.00 | 21,082,795.47 |
| Intotal | 20,000,000.00 | 21,082,795.47 |
(2)DividendsPayable
(3)OtherAccountsPayableOtherAccountsPayablebyNatureofFundsPresented
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| IntercourseFundsofRelatedParties | 4,606,890.00 | 3,687,264.48 |
| GuaranteedDepositandDeposit | 23,721,815.28 | 27,614,619.18 |
| IntercourseFundsbetweenUnits | 7,963,932.31 | 9,684,592.82 |
| PersonalIntercourseFunds | 3,295,630.45 | 3,731,133.46 |
| VariousInsurancesofEmployee | 2,649,275.00 | 3,688,119.63 |
| StorageCharge | 2,873,402.86 | 2,832,948.18 |
Items
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| Others | 3,213,342.90 | 3,213,302.88 |
| Intotal | 3,213,342.90 | 3,213,302.88 |
| HebeiJiliangOilandFatCo.,Ltd.GainsandLossesDivestmentduringtransition | 1,747,611.95 | |
| Others | 3,523,997.70 | 2,335,810.73 |
| Intotal | 48,634,943.60 | 55,322,100.43 |
30.Non-currentliabilitiesduewithinoneyear
| Item | Endbalance | OpeningBalance |
| Long-termLoansdueWithinOneYear | 100,000,000.00 | 150,000,000.00 |
| LeaseLiabilitydueWithinOneYear | 11,891,031.53 | 22,741,185.39 |
| Long-termLoansInterestdueWithinOneYear | 319,763.89 | |
| BondInterestPayabledueWithinOneYear | 7,200,000.00 | 2,880,000.00 |
| Total | 119,091,031.53 | 175,940,949.28 |
31.Othercurrentliability
| Item | Endbalance | OpeningBalance |
| Value-addedtaxtobewrittenoff | 58,741,540.34 | 45,928,019.48 |
| ChangesoftheFairValueoftheHedgedItem | 14,511,381.20 | |
| Total | 58,741,540.34 | 60,439,400.68 |
32.Longtermborrowing
| Item | Endbalance | OpeningBalance |
| Debtofhonour | 530,000,000.00 | 400,000,000.00 |
| Total | 530,000,000.00 | 400,000,000.00 |
33.Bondspayable
(1)Bondspayable
| Item | EndingBalance | OpeningBalance |
| CorporateBond | 299,025,000.00 | 298,800,000.00 |
| Total | 299,025,000.00 | 298,800,000.00 |
(2)Bondpayablesituation(notincludingotherfinancialinstrumentsi.e.theFinancialLiabilitiespreferencesharesperpetuitiesetc)
| NameofBond | FaceValue | Couponrate（%） | ReleaseDate | BondPeriod | IssuingAmount | OpeningBalance | TheIssuance |
| 23Jingliang01CorporateBond | 300,000,000.00 | 2.88 | 21Aug-22Aug2023 | 3years | 300,000,000.00 | 301,680,000.00 | |
| Total | ∕ | ∕ | ∕ | ∕ | 300,000,000.00 | 301,680,000.00 |
(Continued)
| NameofBond | Interestaccruedatfacevalue | AmortizationofPremiumsorDiscounts | RepaymentinthePeriod | OtherDirectFees | EndingBalance | Whetherindefault |
| 23Jingliang01CorporateBond | 4,320,000.00 | -225,000.00 | 306,225,000.00 | |||
| Total | 4,320,000.00 | -225,000.00 | 306,225,000.00 | ∕ |
34.Leaseliability
| Item | Endbalance | OpeningBalance |
| LeasePayment | 92,871,464.76 | 103,803,204.86 |
| Less:unrecognizedFinancingCost | 5,966,648.86 | 7,820,276.90 |
| Reclassifiedasnon-currentliabilitiesduewithinOneyear | 11,891,031.53 | 22,741,185.39 |
| NetLeaseLiabilities | 75,013,784.37 | 73,241,742.57 |
35.LongtermwagepayableLong-termwagepayablepresented
| Items | BalanceatEndofPeriod | BalanceatBeginningofYear |
| OtherLong-termWelfare | 5,677,134.00 | 5,677,134.00 |
| Intotal | 5,677,134.00 | 5,677,134.00 |
36.DeferredIncome
| Items | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | DecreaseintheCurrentPeriod | BalanceatEndofPeriod | CauseofFormation |
| GovernmentSubsidy | 62,503,256.67 | 4,019,983.60 | 58,483,273.07 | ||
| Intotal | 62,503,256.67 | 4,019,983.60 | 58,483,273.07 |
Amongthem,itemsinvolvinggovernmentsubsidyareasfollows:
| ItemsReceivingSubsidy | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | ChargetootherProfits | Amountrolledinnon-operatingincomeinthecurrentperiod. | RefundinthisPeriod | OtherChanges | BalanceatEndofPeriod | ReasonsonRefund | Assetrelated/incomerelated |
| EdibleOilRenewableCleanProductionEquipmentandOilTankElectricHeatingSystemProject | 111,999.68 | 28,000.02 | 83,999.66 | Assetsrelated | |||||
| Grain&Oilprocessingkeytechnologyresearchandindustrializationproject,formingfixedassets | 544,871.72 | 38,919.42 | 505,952.30 | Assetsrelated | |||||
| TianjinBinhaiNewZoneindustrializedtechnologicaltransformationandzoneconstructionfundandscientific | 1,425,925.73 | 111,111.13 | 1,314,814.60 | Assetsrelated |
| ItemsReceivingSubsidy | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | ChargetootherProfits | Amountrolledinnon-operatingincomeinthecurrentperiod. | RefundinthisPeriod | OtherChanges | BalanceatEndofPeriod | ReasonsonRefund | Assetrelated/incomerelated |
| technologyexpenses | |||||||||
| Enterprisefoundationsupportingintheconstructionstageof"TianjinLingangIndustrialZoneManagementCommittee" | 46,096,611.13 | 638,752.08 | 45,457,859.05 | Assetsrelated | |||||
| SubsidizedbyBeijingMunicipalFoodandStrategicReservesBureaufor"TankExpansionandWinterizationRenovationProject | 2,272,477.03 | 125,090.45 | 2,147,386.58 | Assetsrelated | |||||
| Therelocationcompensation | 3,078,110.50 | 3,078,110.50 | Assetsrelated | ||||||
| Specialsubsidyforinfrastructureinvestment | 8,973,260.88 | 8,973,260.88 | Assetsrelated | ||||||
| Intotal | 62,503,256.67 | 4,019,983.60 | 58,483,273.07 | —— | —— |
37.ShareCapital
| Items | BalanceatBeginningofYear | ChangesintheCurrentPeriod（+、-） | BalanceatEndofPeriod | ||||
| NewShareIssue | ShareDonation | ShareTransferofProvidentFund | Others | Sub-total | |||
| 1.ShareswithRestrictedConditions | 30,869,915.00 | -1,275,000.00 | -1,275,000.00 | 29,594,915.00 | |||
| (1)StateShareholding | |||||||
| (2)State-ownedLegal-personShareholding | |||||||
| (3)OtherDomesticCapitalShareholding | 30,869,915.00 | -1,275,000.00 | -1,275,000.00 | 29,594,915.00 | |||
| Including:DomesticLegal-personShareholding | |||||||
| DomesticNaturalPersonShareholding | 30,869,915.00 | -1,275,000.00 | -1,275,000.00 | 29,594,915.00 | |||
| (4)ForeignShareholding | |||||||
| Including:ForeignLegal-personShareholding | |||||||
| ForeignNaturalPersonShareholding | |||||||
| 2.TradableShareswithoutRestrictedConditions | 696,080,336.00 | 1,275,000.00 | 1,275,000.00 | 697,355,336.00 | |||
| (1)RMBOrdinaryShares | 631,105,336.00 | 1,275,000.00 | 1,275,000.00 | 632,380,336.00 | |||
| (2)DomesticallyListedForeignShares | 64,975,000.00 | 64,975,000.00 | |||||
| (3)ListedForeignSharesOverseas | |||||||
| (4)Others | |||||||
| Intotal | 726,950,251.00 | 726,950,251.00 | |||||
38.CapitalReserves
| Items | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | DecreaseintheCurrentPeriod | BalanceatEndofPeriod |
| CapitalPremium(StockPremium) | 1,322,887,986.38 | 1,322,887,986.38 | ||
| CapitalReservesRoll-inUnderOriginalSystem | 112,316,357.36 | 112,316,357.36 | ||
| OtherCapitalReserves | 246,603,764.33 | 246,603,764.33 | ||
| Intotal | 1,681,808,108.07 | 1,681,808,108.07 |
39.OtherComprehensiveIncomes
| Items | BalanceatBeginningofYear | AmountsOccurredintheCurrentPeriod | BalanceatEndofPeriod | |||||
| AmountsOccurredbeforeIncomeTaxintheCurrentPeriod | Less:OtherComprehensiveIncomesChargedatEarlierStageandCurrentRoll-inProfitandLoss | Less:includedinothercomprehensiveincomeinthepreviousperiodandtransferredtoretainedincomeinthecurrentperiod | Less:IncomeTaxExpense | AttributabletoParentCompanyAfterTax | AttributabletoMinorityShareholdersAfterTax | |||
| OneOthercomprehensiveincomesthatwon’tbeclassifiedintoprofitandloss | ||||||||
| TwoOthercomprehensiveincomesthatwillbeclassifiedintoprofitandloss | 1,369,980.92 | 142,130.77 | 142,130.77 | 1,512,111.69 | ||||
| Including:Converteddifferencebetweenforeigncurrencyfinancialstatements | 1,369,980.92 | 142,130.77 | 142,130.77 | 1,512,111.69 | ||||
| Total | 1,369,980.92 | 142,130.77 | 142,130.77 | 1,512,111.69 | ||||
40.SurplusReserves
| Items | BalanceatBeginningofYear | IncreaseintheCurrentPeriod | DecreaseintheCurrentPeriod | BalanceatEndofPeriod |
| StatutorySurplusReserves | 92,184,862.07 | 92,184,862.07 | ||
| FreeSurplusReserves | 37,634,827.93 | 37,634,827.93 | ||
| Intotal | 129,819,690.00 | 129,819,690.00 |
41.UndistributedProfit
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| Adjustmentonundistributedprofitatendoflastyear | 627,555,511.45 | 532,904,675.62 |
| Adjustmentontotalnumberofundistributedprofitatbeginningofperiod(increase+anddecrease-) | ||
| Adjustedundistributedprofitatbeginningofperiod | 627,555,511.45 | 532,904,675.62 |
| Add:netprofitattributabletoparentcompanyinthecurrentperiod | 24,058,518.07 | 73,581,795.36 |
| Less:withdrawalstatutorysurplusreserves | ||
| Less:distributiontoshareholders | 51,613,467.82 | |
| Undistributedprofitatendofperiod | 600,000,561.70 | 606,486,470.98 |
42.OperationRevenueandOperationCost
(1)OperationRevenueandOperationCost
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod | ||
| Revenue | Cost | Revenue | Cost | |
| PrimeBusiness | 5,543,192,577.80 | 5,317,117,982.23 | 4,792,494,443.33 | 4,604,819,197.36 |
| OtherBusiness | 12,714,416.34 | 14,897,635.94 | 30,739,764.85 | 26,151,271.78 |
| Intotal | 5,555,906,994.14 | 5,332,015,618.17 | 4,823,234,208.18 | 4,630,970,469.14 |
(2)Operationrevenueandoperationcostpresented
| ContractCategory | OperationRevenue | OperationCost |
| IndustryandBusiness-classified | ||
| Including:OilandOilSeeds | 5,102,927,349.82 | 4,970,240,307.32 |
| Food | 440,265,227.98 | 346,877,674.91 |
| Others | 12,714,416.34 | 14,897,635.94 |
| Region-classified | ||
| Including:NorthChina | 2,898,283,251.48 | 2,802,952,823.15 |
| EastChina | 1,322,719,192.37 | 1,232,829,464.07 |
| SouthChina | 485,970,049.77 | 475,601,613.53 |
| NortheastChina | 355,266,820.98 | 333,933,488.58 |
| Abroad | 249,601,523.13 | 249,383,597.05 |
| CentralChina | 125,839,395.10 | 122,666,307.34 |
| Others | 118,226,761.31 | 114,648,324.45 |
| Timeforthetransferofcommoditiesclassified | ||
| Revenuerecognitionatagiventime | 5,555,906,994.14 | 5,332,015,618.17 |
| Saleschannel-classified | ||
| Including:Direct | 3,400,859,827.75 | 3,317,529,873.23 |
| Distribution | 2,142,332,750.05 | 1,999,588,109.00 |
| Others | 12,714,416.34 | 14,897,635.94 |
| Intotal | 5,555,906,994.14 | 5,332,015,618.17 |
(3)Performanceobligationsexplanation
| Item | Timeof | Important | Natureofthe | Whether | Expected | Quality |
| performanceobligations | paymentterms | commitmenttotransfercommoditiesbythecompany | mainresponsibleperson | refundtothecustomerbytheCompany | assurancecategoryprovidedbytheCompanyandrelevantobligations | |
| Processing,salesandtradingofoilandoilseeds,aswellasfoodstuffs | Upondelivery | Mainlypaymentfirst | Mainlysalesofoilandoilsees,snackfood | Yes | No | Statutoryguarantees |
Note:Companyanddistributorsadoptthepaymentfirstmethod,certaincreditlinesofferedbythecompanytopartialdistributorswithlong-termcooperationandgoodreputation.Forsettlement,partialdirectsalecustomersandsupermarketsshallbeproceededonagreedpaymenttermsinaccordancewiththecontract
(4)Amortizationonremainingperformanceobligationsexplanation
Contracthasbeensignedatendreportingperiod;however,thecorrespondingamountisRMB619,028,078.42fortheoutstandingobligationsorobligationsnotyetcompletefulfilled.Therevenueshallberecognizedin2024.
43.TariffAndAnnex
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| UrbanMaintenanceandConstructionTax | 1,930,404.14 | 2,164,523.24 |
| HousePropertytax | 2,996,889.52 | 3,040,839.14 |
| LandUseTax | 1,110,300.54 | 914,015.59 |
| EducationalSurtax | 1,367,095.51 | 1,563,231.46 |
| VehicleandVesselUseTax | 18,756.16 | 20,323.53 |
| EnvironmentalProtectionFees | 54,450.43 | 15,744.17 |
| StampTax | 4,631,570.93 | 3,825,650.53 |
| OtherTaxesandFees | 106,559.43 | 4,346.22 |
| Intotal | 12,216,026.66 | 11,548,673.88 |
44.SalesExpenses
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| EmployeeCompensation | 30,377,531.25 | 25,300,609.41 |
| SalesPromotionExpenses | 9,624,316.03 | 7,282,685.02 |
| WarehousingFees | 9,713,134.98 | 14,257,898.37 |
| Depreciation | 8,454,450.87 | 7,985,937.31 |
| Materialconsumption,sampleandproductcost | 2,868,577.30 | 3,712,801.42 |
| RepairCosts | 281,101.68 | 115,097.47 |
| WaterandElectricityFees | 553,716.94 | 547,038.39 |
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| Leasefee | 1,460,132.81 | 1,514,904.94 |
| VehicleFees | 420,329.68 | 481,627.88 |
| PackingExpenses | 194,466.00 | 251,296.30 |
| TerminalCharges | 18,771.23 | 146,400.18 |
| TravelExpenses | 2,827,900.27 | 3,070,763.08 |
| TestandDetectionFees | 80,186.87 | 133,279.64 |
| Others | 4,862,041.03 | 13,637,484.20 |
| Total | 71,736,656.94 | 78,437,823.61 |
45.AdministrationExpenses
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| EmployeeCompensation | 50,395,828.76 | 50,938,225.39 |
| ImpairmentCosts | 12,012,948.46 | 13,240,946.13 |
| AmortizationofAssets | 3,946,432.50 | 3,687,167.40 |
| FeesofEmployingAgent | 2,806,410.34 | 3,545,562.82 |
| RepairCosts | 1,025,293.49 | 1,485,217.53 |
| CompanyExpenses | 2,734,054.99 | 1,694,907.02 |
| Leasefee | 1,635,076.96 | 1,437,456.70 |
| VehicleFees | 914,805.66 | 922,140.12 |
| SecurityProtectionFees | 501,625.64 | 822,264.35 |
| Amortizationoflong-termprepayments | 701,590.94 | 549,813.65 |
| InformationNetworkFees | 57,119.80 | 41,734.11 |
| CommercialInsuranceExpensesWorkersInsuranceExpense | 521,959.67 | 896,801.93 |
| TravelExpenses | 611,737.08 | 413,136.56 |
| BusinessEntertainmentExpenses | 451,086.09 | 433,247.37 |
| BusinessEntertainmentExpenses | 518,825.54 | 475,656.29 |
| MaterialConsumption | 555,492.73 | 487,704.84 |
| CompanyExpenses | 384,965.26 | 301,685.55 |
| LaborProtectionFees | 155,649.15 | 27,309.72 |
| OtherExpenses | 5,810,012.78 | 11,497,604.73 |
| Intotal | 85,740,915.84 | 92,898,582.21 |
46.ResearchandDevelopmentExpenses
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| Salary | 6,050,611.00 | 5,106,613.56 |
| Materialfee | 3,159,584.65 | 4,254,432.69 |
| FuelandPowerFee | 221,731.83 | 3,461.18 |
| Depreciationandamortization | 574,493.03 | 179,206.98 |
| Designexpense | 8,000.00 | 9,708.74 |
| EquipmentCost | 14,946.90 | |
| TransportationExpense | 33,717.43 | 10,517.31 |
| Others | 339,299.09 | 698,859.51 |
| Intotal | 10,402,383.93 | 10,262,799.97 |
47.FinancialExpenses
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| InterestExpenses | 28,960,078.11 | 25,265,021.07 |
| Less:InterestIncome | 8,925,122.62 | 5,832,452.30 |
| ExchangeGainorLoss | -1,401,234.64 | -2,719,736.45 |
| ServiceCharges | 965,850.29 | 552,216.18 |
| Intotal | 19,599,571.14 | 17,265,048.50 |
48.OtherProfits
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| GovernmentSubsidy | 9,669,801.08 | 6,149,861.75 |
| ReturnofServiceChargesofWithholdingIndividualIncomeTax | 200,683.84 | 156,397.49 |
| Others | 17,955.34 | |
| Intotal | 9,870,484.92 | 6,324,214.58 |
49.InvestmentIncome
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| Long-termequityinvestmentincomeaccountedwithequitymethod | 10,875,426.88 | 7,012,296.86 |
| Investmentincomefromdisposalofwealthmanagementproducts | ||
| Investmentincomeofdisposingtradingfinancialassets | ||
| Investmentincomeobtainedduringtheholdingoftransactionalfinancialassets | 169,707.51 | |
| Others | -2,721.38 | |
| Intotal | 10,875,426.88 | 7,179,282.99 |
50.ProfitsonChangesinFairValue
| Sourceofgeneratingincomewithchangesinfairvalue | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| TradingFinancialassets | -9,906,096.90 | 143,869,459.30 |
| Including:incomewithchangesinfairvaluegeneratedbyhedginginstrumentsandhedgeditem | -9,906,096.90 | 143,869,459.30 |
| Intotal | -9,906,096.90 | 143,869,459.30 |
51.Creditimpairmentloss
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| Accountsreceivablebaddebtloss | -115,984.57 | |
| Otherreceivablesbaddebtloss | 1,779.74 | |
| Total | 1,779.74 | -115,984.57 |
52.LossfromAssetDevaluation
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| LossonInventoryPriceLoss&Impairmentlossoncontractperformancecosts | 130,887.98 | -25,186,589.63 |
| Intotal | 130,887.98 | -25,186,589.63 |
53.AssetsDisposalIncome
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| Gainsorlossesondisposaloffixedassets | 23,411.62 | -2,209.46 |
| Intotal | 23,411.62 | -2,209.46 |
54.Non-operatingIncome
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod | AmountsChargedtoNon-recurringProfitandLoss |
| Non-currentassetsretirementgains | 10,274.33 | ||
| Fines,liquidateddamages,latefees,compensationincome | 9,309,450.43 | 3,636,895.41 | 9,309,450.43 |
| Payableamountsnotrequiredtobepaid | 1,190,843.15 | 13,284.33 | 1,190,843.15 |
| Wastedisposalgains | 49,231.02 | 98,808.18 | 49,231.02 |
| Others | 54,881.03 | 144,239.11 | 54,881.03 |
| Intotal | 10,604,405.63 | 3,903,501.36 | 10,604,405.63 |
55.Non-operatingExpenses
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod | AmountsChargedtoNon-recurringProfitandLoss |
| Totallossonscrapofnon-currentassets | 83,271.40 | 67,613.57 | 83,271.40 |
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod | AmountsChargedtoNon-recurringProfitandLoss |
| Penaltyexpenditure | 4,288,497.08 | 65.46 | 4,288,497.08 |
| Others | 408,230.51 | 460,301.41 | 408,230.51 |
| Total | 4,779,998.99 | 527,980.44 | 4,779,998.99 |
56.IncomeTaxExpenses
(1)ListofIncomeTaxExpenses
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| IncomeTaxExpensesoftheCurrentPeriod | 5,016,214.94 | 7,333,690.17 |
| DeferredIncomeTaxExpenses | 9,813,068.48 | 25,184,332.75 |
| Total | 14,829,283.42 | 32,518,022.92 |
(2)AccountingProfitandIncomeTaxExpenseAdjustmentProcess
| Items | AmountsintheCurrentPeriod |
| TotalProfits | 41,016,122.34 |
| Incometaxexpensescalculatedbystatutory/applicabletaxrate | 10,254,030.59 |
| Effectofsubsidiarycorporationsbeingapplicabletodifferenttaxrates | -377,296.99 |
| Adjustmentoneffectofincometaxinthepriorperiod | 250,584.99 |
| EffectofNon-taxableIncomes | |
| EffectofNon-deductiblecost,expenseandloss | 169,877.34 |
| Effectofdeductiblelossonusageofunconfirmeddeferredincometaxassetsinthepriorperiod | -2,623,737.65 |
| Effectofdeductibletemporarydifferenceordeductiblelossonunconfirmeddeferredincometaxinthecurrentperiod | 11,534,929.01 |
| EffectofResearchexpenses,disablesweighteddeduction | -930,668.99 |
| Effectofassetdepreciationreservewrite-offorreversal | -130,887.98 |
| Effectofnon-taxableinvestmentincome | -2,718,856.73 |
| Others | -598,690.17 |
| IncomeTaxExpenses | 14,829,283.42 |
57.OthercomprehensiveincomeitemsandtheirincometaximpactandtransferredtoprofitandlossSeedetailsof‘AppendixVNotesonItemsinConsolidatedFinancialStatements39.OtherComprehensiveIncomes’
58.Notestoitemsrelatedcashflowstatement
(1)Cashrelatedtooperatingactivities
A.Receivingothercashrelatedtooperationactivities
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| SecurityDeposit | 1,454,397,995.52 | 879,899,688.90 |
| IntercourseFundsofOtherUnits | 33,138,626.70 | 129,523,949.12 |
| InterestIncome | 9,529,738.72 | 5,111,702.84 |
| IntercourseFundsofRelatedParties | 7,215,785.96 | 2,409,511.39 |
| Non-operatingIncomeandotherincome | 8,976,653.99 | 4,937,540.00 |
| Others | 1,657,862.05 | 1,929,648.28 |
| Total | 1,514,916,662.94 | 1,023,812,040.53 |
(2)CashrelatedtoinvestmentactivitiesOthercashpaymentrelatedtoinvestmentactivities
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| Transitionalgainsandlosses,etc.,returnedtoHebeiJiliangOilandFatCo.,Ltd. | 1,747,611.95 | |
| Intotal | 1,747,611.95 |
(3)CashrelatedtofinancingactivitiesA.Othercashpaidrelatedtofinancingactivities
| Items | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| Leasepaymentamount | 13,486,733.94 | 574,077.78 |
| Intotal | 13,486,733.94 | 574,077.78 |
B.VariousliabilitychangesituationFromFinancingActivities
| Item | BeginningBalance | Increaseinthisperiod | Decreaseinthisperiod | EndingBalance | ||
| CashMovement | Non-cashMovement | CashMovement | Non-cashMovement | |||
| Short-termborrowing | 1,163,479,691.67 | 907,734,559.68 | 17,262,148.84 | 1,051,759,139.08 | 1,036,717,261.11 | |
| Long-termborrowing | 550,319,763.89 | 130,000,000.00 | 4,800,222.22 | 55,119,986.11 | 630,000,000.00 | |
| BondPayable | 301,680,000.00 | 4,545,000.00 | 306,225,000.00 | |||
| LeaseLiability | 95,982,927.96 | 4,408,621.88 | 13,486,733.94 | 86,904,815.90 | ||
| Total | 2,111,462,383.52 | 1,037,734,559.68 | 31,015,992.94 | 1,120,365,859.13 | 2,059,847,077.01 | |
Note:amountpresentedaboveincludesthatofreclassificationtonon-currentliabilitiesdueinoneyear
59.SupplementaryMaterialsofCashFlowsStatement
(1)SupplementaryMaterialsofCashFlowsStatement
| SupplementaryMaterials | AmountsintheCurrentPeriod | AmountsinthePriorPeriod |
| 1.Adjustingnetaccountingprofittooperatingcashflow | —— | —— |
| NetProfit | 26,186,838.92 | 84,776,482.08 |
| Add:AssetsImpairmentReserves | -130,887.98 | 25,186,589.63 |
| Creditimpairmentloss | -1,779.74 | 115,984.57 |
| FixedAssetsDepreciation,Oil-and-gasAssetsDepreciationandProductiveBiologicalAssetsDepreciation | 44,390,959.06 | 50,006,678.17 |
| Right-of-useassetsdepreciation | 10,243,162.76 | 727,090.29 |
| AmortizationofIntangibleAssets | 8,529,107.14 | 7,453,613.22 |
| AmortizationofLong-termDeferredExpenses | 701,590.94 | 549,813.65 |
| LossesonDisposalofFixedAssets,IntangibleAssetsandOtherLong-termAssets(Fillinprofitwithsymbol“－”) | -23,411.62 | 2,009.46 |
| LossesonRetirementofFixedAssets(Fillinprofitwithsymbol“－”) | 60,624.57 | |
| LossesonChangesinFairValue(Fillinprofitwithsymbol“－”) | 9,906,096.90 | -143,869,459.30 |
| FinancialExpenses(Fillinprofitwithsymbol“－”) | 19,144,560.53 | 17,265,048.50 |
| InvestmentLosses(Fillinprofitwithsymbol“－”) | -10,875,426.88 | -7,179,282.99 |
| DecreaseinDeferredIncomeTaxAssets(Fillinincreasewithsymbol“－”) | 3,346,527.87 | 934,516.78 |
| IncreaseinDeferredIncomeTaxReliabilities(Fillindecreasewithsymbol“－”) | 6,466,540.61 | 24,249,815.98 |
| DecreaseinInventory(Fillinincreasewithsymbol“－”) | -145,001,449.86 | -114,286,861.49 |
| DecreaseinItemsofOperatingReceivables(Fillinincreasewithsymbol“－”) | -344,857,880.05 | -360,191,592.16 |
| IncreaseinItemsofOperatingReceivables(Fillindecreasewithsymbol“－”) | 150,910,029.31 | 276,849,383.25 |
| NetCashFlowsfromOperatingActivities | -221,065,422.09 | -137,349,545.79 |
| 2.Majorinvestmentandfinancingactivitiesthatdonotinvolvecashpayments | —— | —— |
| 3.Netchangeconditionsincashandcashequivalents | ||
| Cashbalanceatendofperiod | 1,170,000,193.27 | 1,251,666,904.81 |
| Less:cashbalanceatbeginningofperiod | 1,540,639,079.95 | 551,439,110.07 |
| Cashandcashequivalentnetincrease | -370,638,886.68 | 700,227,794.74 |
(2)Compositionofcashandcashequivalents
| Items | BalanceatEndofPeriod | BalanceatBeginningofPeriod |
| One.Cash | 1,170,000,193.27 | 1,540,639,079.95 |
| Including:Cashonhand | 16,474.45 | 9,949.26 |
| Bankdepositavailableforpaymentatanytime | 1,077,499,569.76 | 1,423,321,137.06 |
| Othercurrencyfundsavailableforpaymentatanytime | 92,484,149.06 | 117,307,993.63 |
| Two.CashEquivalents | ||
| Three.BalanceofCashandCashEquivalentsatEndofPeriod | 1,170,000,193.27 | 1,540,639,079.95 |
60.MonetaryItemsofForeignCurrency
MonetaryItemsofForeignCurrency
| Items | BalanceofForeignCurrencyatEndofPeriod | ExchangeRateConvert | BalanceofConvertingtoRMBatEndofPeriod |
| Monetaryfund | —— | —— | 141,976,671.98 |
| Including:USDollars | 19,921,517.65 | 7.1268 | 141,976,671.98 |
| Accountsreceivable | —— | —— | 592,736.91 |
| Including:USDollars | 83,170.13 | 7.1268 | 592,736.91 |
61.Lease
(1)AsLessee
| Item | Amount |
| Interestcostontheleaseliability | 1,901,742.24 |
| Short-termleaseexpensesforsimplifiedprocessingofrelatedassetcostsorprofitorlossinthecurrentperiod | 3,494,753.60 |
| TotalCashOutflowrelatedtolease | 13,860,930.58 |
(2)AsLessorOperatingleaseaslessor
| Item | Leaseholdincome | Including:Incomerelatedtovariableleasepaymentsnotincludedinleaseincome |
| Leaseholdincome | 1,077,492.03 | |
| Total | 1,077,492.03 |
VIResearchandDevelopmentExpensesDisclosedbynatureofexpenses
| Item | Amountincurrentperiod | Amountinpriorperiod |
| Salary | 6,050,611.00 | 5,106,613.56 |
| Materialexpense | 3,159,584.65 | 4,254,432.69 |
| Fuel&Powerexpenses | 221,731.83 | 3,461.18 |
| DepreciationandAmortizationFee | 574,493.03 | 179,206.98 |
| DesignFee | 8,000.00 | 9,708.74 |
| Equipmentcost | 14,946.90 | |
| Travelexpense | 33,717.43 | 10,517.31 |
| Others | 339,299.09 | 698,859.51 |
| Total | 10,402,383.93 | 10,262,799.97 |
| Including:R&Dexpenditure | 10,402,383.93 | 10,262,799.97 |
| CapitalizedR&Dexpenditure |
VIIChangeinConsolidationScope
1.TherewerenochangesinthescopeofconsolidationforthecompanyduringthereportingperiodVIIIEquitiesinOtherEntities
1.EquitiesinSubsidiaries
(1)CompositionoftheCompany
| NameofSubsidiary | PrinciplePlaceofBusiness | RegisteredCapital（IntenthousandsYuan） | RegisteredPlace | NatureofBusiness | ShareholdingRatio(%) | ModeofAcquisition | |
| Direct | Indirect | ||||||
| Jingliang(Tianjin)GrainandOilIndustryCo.,Ltd. | Tianjin | 56,000.00 | Tianjin | AgriculturalProductandByProductProcessing | 70.00 | Mergerunderthesamecontrol | |
| BeijingJingliangOilandFatCo.,Ltd. | Beijing | 5,000.00 | Beijing | Grainandoiltrade | 100.00 | Mergerunderthesamecontrol | |
| BeijingGuchuanEdibleOilCo.,Ltd. | Beijing | 12,558.46 | Beijing | Grainandoiltrade | 100.00 | Mergerunderthesamecontrol | |
| BeijingEisen-LubaoOilCo.,Ltd. | Beijing | 5,050.00 | Beijing | AgriculturalProductandByProductProcessing | 100.00 | Mergerunderthesamecontrol | |
| BeijingTianweikangOilDistributionCenterCo.,Ltd. | Beijing | 500.00 | Beijing | Warehousing | 100.00 | Mergerunderthesamecontrol | |
| BeijingGuchuanBreadFoodCo.,Ltd. | Beijing | 5,550.00 | Beijing | FoodProcessing | 100.00 | Mergerunderthesamecontrol | |
| ZhejiangXiaoWangZiFoodCo.,Ltd. | Hangzhou | 5,156.00 | Hangzhou | FoodProcessing | 17.6794 | 77.2072 | Combinationnotundersamecontrol |
| HangzhouLin'anXiaotianshiFoodCo.,Ltd. | Hangzhou | 4,900.00 | Hangzhou | FoodProcessing | 17.6794 | 77.2072 | ditto |
| LiaoningXiaoWangZiFoodCo.,Ltd. | Liaoning | 3,000.00 | Liaoning | FoodProcessing | 17.6794 | 77.2072 | ditto |
| LinqingXiaoWangZiFoodCo.,Ltd. | Linqing | 2,132.50 | Linqing | FoodProcessing | 17.6794 | 77.2072 | ditto |
| HangzhouLin'anChunmanyuanAgriculturalDevelopmentCo.,Ltd. | Hangzhou | 600.00 | Hangzhou | FoodProcessing | 17.6794 | 77.2072 | ditto |
| Jingliang(Singapore)InternationalTradeCo.,Ltd. | Singapore | 643.35 | Singapore | Graintrade | 100.00 | Investintheestablishment | |
| Beijingjinglianggubioilandgreaseco.LTD | Beijing | 5,000.00 | Beijing | Grainandoiltrade | 100.00 | Investintheestablishment | |
| BeijingJingliangFoodCo.,Ltd. | Beijing | 105,658.96 | Beijing | Investmentmanagement | 100.00 | Mergerunderthesamecontrol | |
| Jingliang(Caofeidian)AgriculturalDevelopmentCo.,Ltd. | Tangshan | 5,000.00 | Tangshan | Plantation | 51.00 | Investintheestablishment | |
| Jingliang(Yueyang)GrainandOilIndustryCo.,Ltd. | Hunan | 68,000.00 | Hunan | Agriculturalproducts | 65.00 | Investintheestablishment | |
| Jingliang(Beijing)FoodMarketingManagementCo.,Ltd | Beijing | 800.00 | Beijing | Commercialservices | 100.00 | Investintheestablishment | |
| Jingliang(Yangpu)GrainandOilIndustryCo.,Ltd. | Hainan | 50,000.00 | Hainan | AgriculturalProductandByProductProcessing | 65.00 | Investintheestablishment | |
(2)Majornon-wholly-ownedsubsidiaries
| NameofSubsidiary | ShareholdingRatioofMinorityShareholders(%) | ProfitAndLossAttributabletoMinorityShareholdersfortheCurrentPeriod | DividendsDistributedtoMinorityShareholdersfortheCurrentPeriod | BalanceofMinorityShareholder'sEquityattheEndofthePeriod |
| Jingliang(Tianjin)GrainandOilIndustryCo.,Ltd. | 30.00% | 677,459.84 | 222,943,883.54 |
| NameofSubsidiary | ShareholdingRatioofMinorityShareholders(%) | ProfitAndLossAttributabletoMinorityShareholdersfortheCurrentPeriod | DividendsDistributedtoMinorityShareholdersfortheCurrentPeriod | BalanceofMinorityShareholder'sEquityattheEndofthePeriod |
| ZhejiangXiaoWangZiFoodCo.,Ltd. | 5.11% | 2,303,461.00 | 46,752,334.36 |
(3)Importantfinancialinformationonmajornon-wholly-ownedsubsidiaries
| NameofSubsidiary | ClosingBalance | |||||
| CurrentAssets | Non-currentAssets | TotalAssets | CurrentLiabilities | Non-currentLiabilities | TotalLiabilities | |
| Jingliang(Tianjin)GrainandOilIndustryCo.,Ltd. | 1,979,394,102.08 | 692,588,050.46 | 2,671,982,152.54 | 1,534,023,560.02 | 394,812,314.02 | 1,928,835,874.04 |
| ZhejiangXiaoWangZiFoodCo.,Ltd. | 580,424,113.52 | 323,527,826.28 | 903,951,939.80 | 83,043,388.61 | 14,650,394.88 | 97,693,783.49 |
(Continued)
| NameofSubsidiary | OpeningBalance | |||||
| CurrentAssets | Non-currentAssets | TotalAssets | CurrentLiabilities | Non-currentLiabilities | TotalLiabilities | |
| Jingliang(Tianjin)GrainandOilIndustryCo.,Ltd. | 1,690,703,873.13 | 715,120,631.78 | 2,405,824,504.91 | 1,401,536,126.49 | 263,400,299.40 | 1,664,936,425.89 |
| ZhejiangXiaoWangZiFoodCo.,Ltd. | 556,236,641.71 | 333,141,896.19 | 889,378,537.90 | 103,727,129.38 | 17,728,505.38 | 121,455,634.76 |
(Continued)
| NameofSubsidiary | Amountincurredinthecurrentperiod | |||
| OperatingIncome | NetProfit | TotalComprehensiveIncome | CashFlowfromOperatingActivities | |
| Jingliang(Tianjin)GrainandOilIndustryCo.,Ltd. | 1,948,859,877.07 | 2,258,199.48 | 2,258,199.48 | -339,856,449.70 |
| ZhejiangXiaoWangZiFoodCo.,Ltd. | 377,946,737.77 | 38,335,253.17 | 38,335,253.17 | 12,319,557.86 |
(Continued)
| NameofSubsidiary | Amountincurredinthepriorperiod | |||
| OperatingIncome | NetProfit | TotalComprehensiveIncome | CashFlowfromOperatingActivities | |
| Jingliang(Tianjin)GrainandOilIndustryCo.,Ltd. | 2,364,528,344.23 | 25,638,449.60 | 25,638,449.60 | 568,809,524.65 |
| ZhejiangXiaoWangZiFoodCo.,Ltd. | 428,413,574.82 | 46,252,797.77 | 46,252,797.77 | -2,843,845.04 |
2.EquityinJointVenturesorAffiliates
(1)ImportantJointVenturesorAffiliates
| NameofJointVentureorAffiliate | PrinciplePlaceofBusiness | RegisteredPlace | NatureofBusiness | ShareholdingRatio(%) | AccountingTreatmentMethodsforInvestmentinJointVenturesorAffiliates | |
| Direct | Indirect | |||||
| BeijingZhengdaFeedCo.,Ltd. | Beijing | Beijing | Manufacturer | 50.00 | Equitymethod | |
| SINOGRAIN(Tianjin)WarehousingLogisticsCo.,Ltd. | Tianjin | Tianjin | Transportationandwarehousing | 30.00 | Equitymethod | |
| JingliangMissmeCateringManagement(Beijing)Co.,Ltd. | Beijing | Beijing | Manufacturer | 48.00 | Equitymethod |
(2)Importantfinancialinformationonmajorjointventures
| Item | ClosingBalance/CurrentAmount | OpeningBalance/LastTermAmount |
| BeijingZhengdaFeedCo.,Ltd. | BeijingZhengdaFeedCo.,Ltd. | |
| Currentassets | 318,764,832.62 | 319,779,538.52 |
| Including:cashandcashequivalents | 10,014,848.50 | 12,804,613.72 |
| Non-currentassets | 19,836,156.12 | 19,900,378.39 |
| Totalassets | 338,600,988.74 | 339,679,916.91 |
| Currentliabilities | 56,845,400.96 | 58,198,209.39 |
| Non-currentliabilities | 20,340,517.28 | 24,694,621.01 |
| Totalliabilities | 77,185,918.24 | 82,892,830.40 |
| Minorityshareholder'sequity | ||
| Shareholders'equityattributabletotheparentcompany | 261,415,070.50 | 256,787,086.51 |
| Shareofnetassetsbasedonshareholdingratio | 130,707,535.25 | 128,393,543.26 |
| Bookvalueofequityinvestmentinjointventures | 130,707,535.25 | 128,393,543.26 |
| Operatingincome | 141,505,276.76 | 164,726,777.97 |
| Financialcosts | -4,813,744.60 | -3,959,367.67 |
| Incometaxexpense | 1,414,888.95 | 2,271,436.27 |
| Netprofit | 3,976,901.01 | 6,478,834.60 |
| Dividendsreceivedfromjointventuresinthecurrentperiod |
(3)Importantfinancialinformationonmajoraffiliates
| Item | ClosingBalance/CurrentAmount | OpeningBalance/LastTermAmount |
| SINOGRAIN(Tianjin)WarehousingLogisticsCo.,Ltd. | SINOGRAIN(Tianjin)WarehousingLogisticsCo.,Ltd. | |
| Currentassets | 59,998,800.78 | 59,019,697.43 |
| Non-currentassets | 955,410,475.33 | 886,062,609.97 |
| Totalassets | 1,015,409,276.11 | 945,082,307.40 |
| Currentliabilities | 32,028,004.29 | 33,964,613.24 |
| Item | ClosingBalance/CurrentAmount | OpeningBalance/LastTermAmount |
| SINOGRAIN(Tianjin)WarehousingLogisticsCo.,Ltd. | SINOGRAIN(Tianjin)WarehousingLogisticsCo.,Ltd. | |
| Non-currentliabilities | 554,104,200.08 | 506,182,569.64 |
| Totalliabilities | 586,132,204.37 | 540,147,182.88 |
| Minorityshareholder'sequity | ||
| Shareholders'equityattributabletotheparentcompany | 429,277,071.74 | 404,935,124.52 |
| Shareofnetassetsbasedonshareholdingratio | 128,783,121.52 | 121,480,537.36 |
| Bookvalueofequityinvestmentinaffiliates | 128,783,121.52 | 121,480,537.36 |
| Fairvalueofequityinvestmentinaffiliateswithopenoffers | ||
| Operatingincome | 46,973,215.82 | 31,195,596.27 |
| Netprofit | 24,341,947.22 | 12,576,265.20 |
| Netprofitfromdiscontinuedoperations | ||
| Othercomprehensiveincome | ||
| Totalcomprehensiveincome | 24,341,947.22 | 12,576,265.20 |
| Dividendsreceivedfromaffiliatesinthecurrentperiod |
(4)Non-importantaggregatedfinancialinformationonaffiliates
| Item | ClosingBalance/CurrentAmount | OpeningBalance/LastTermAmount |
| Associatedenterprises：JingliangMissmeCateringManagement(Beijing)Co.,Ltd. | ||
| TotalofInvestmentBookValue | 6,307,415.52 | 6,352,166.62 |
| Itemscalculatedaccordingtoshareholdingratio | ||
| --Netprofit | -44,751.10 | |
| --Othercomprehensiveincome | ||
| --Totalcomprehensiveincome | -44,751.10 |
IXGovernmentSubsidiesGovernmentsubsidyincludedincurrentprofitorloss
| Item | CurrentAmount | LastTermAmount |
| VATrefunds | 4,245,468.93 | 2,909,904.59 |
| SupportingsubsidyduringtheestablishmentphaseforTianjinLingangIndustrialzonemanagementcommittee | 638,752.08 | 638,752.08 |
| Specialsubsidyforinfrastructureinput | 1,304,400.00 |
| Item | CurrentAmount | LastTermAmount |
| Compensationfordemolitionandrelocation | 3,078,110.50 | |
| Thedisabledemploymentsubsidy | 194,719.10 | 75,262.57 |
| Developmentzoneextensionsupportingbonus | 261,643.00 | |
| BeijingMunicipalFoodandMaterialReserveBureau"OilTankExpansionandWinterTransformationProject"subsidyfund | 274,970.45 | 125,090.45 |
| Subsidyforjobstabilization/Universitystudentemploymentsubsidy/Socialsecuritysubsidy | 156,055.99 | 22,207.22 |
| TianjinBinhaiNewAreaindustrialtechnologicaltransformationandparkconstructionfundsandscienceandtechnologyexpenditure | 111,111.13 | 111,111.12 |
| TielingMayorqualificationbonus | 200,000.00 | |
| Urbanlandusetaxrefund | 101,200.00 | |
| TianjinPortFreeTradeZoneDevelopmentandReformBureau2020the1stto4thbatchofTianjinenergysavingspecialfunds | 71,000.00 |
SpecialFundsforIntelligentManufacturingIssuedbytheBureauofScience,TechnologyandIndustrialInnovationofTianjinPortFreeTradeZone(DistrictPortion)
| 100,000.00 | ||
| PersonalTaxHandlingFeeRefund | 200,638.84 | |
| BureauofEconomicandInformationTechnology“seizetheopportunitytofightfortheeconomy”subsidies | 60,000.00 | |
| IncentiveFundsforPromotingAcceleratedDevelopmentofFinancialIndustryinHainanProvince | 600,000.00 | |
| BeijingEconomicDevelopmentZone"ShouShengGui"Reward | 300,000.00 | |
| Others | 70,657.90 | 169,290.72 |
| Intotal | 9,870,484.92 | 6,149,861.75 |
XRisksRelatedtoFinancialInstruments
1.RisksRelatedtoFinancialInstrumentsTheCompany'sprincipalfinancialinstrumentsincludeequityinvestment,creditors'investment,borrowing,accountsreceivable,accountspayable,etc.TheprimarypurposeofthesefinancialinstrumentsistofinancetheoperationsoftheCompany.TheCompanyhasavarietyofotherfinancialassetsandliabilitiesdirectlyarisingfromitsoperations,suchasaccountsreceivableandaccountspayable.
ThemainriskscausedbytheCompany'sfinancialinstrumentsarecreditrisk,liquidityriskandmarketrisk.
(1)Classificationoffinancialinstruments
①BookvalueofvariousfinancialassetsonthebalancesheetdateA.June30,2024
| Financialassetitems | Financialassetsmeasuredatamortizedcost | Financialassetsmeasuredatfairvalueandthechangesrecordedincurrentprofitsandlosses | Financialassetsmeasuredatfairvalueandthechangesrecordedinothercomprehensiveincome | Total |
| Monetaryfunds | 1,181,398,242.40 | 1,181,398,242.40 | ||
| Derivativefinancialassets | 31,223,815.72 | 31,223,815.72 | ||
| Accountsreceivables | 109,483,882.36 | 109,483,882.36 | ||
| Accountsreceivablefinancing | 2,442,328.82 | 2,442,328.82 | ||
| Otherreceivables | 386,904,030.80 | 386,904,030.80 | ||
| Investmentinotherequityinstruments | 20,000,000.00 | 20,000,000.00 |
Othercurrentassets
| Othercurrentassets | 330,613,399.83 | 330,613,399.83 | ||
| Othernon-currentassets | 10,541,666.66 | 10,541,666.66 |
B.December31,2023
| Financialassetitems | Financialassetsmeasuredatamortizedcost | Financialassetsmeasuredatfairvalueandthechangesrecordedincurrentprofitsandlosses | Financialassetsmeasuredatfairvalueandthechangesrecordedinothercomprehensiveincome | Total |
| Monetaryfunds | 1,543,385,751.86 | 1,543,385,751.86 | ||
| Derivativefinancialassets | 31,684,620.00 | 31,684,620.00 | ||
| Accountsreceivables | 115,780,372.55 | 115,780,372.55 | ||
| Accountsreceivablefinancing | 2,502,308.90 | 2,502,308.90 | ||
| Otherreceivables | 303,099,589.59 | 303,099,589.59 | ||
| Investmentinotherequityinstruments | 20,000,000.00 | 20,000,000.00 | ||
| Non-currentassetsduewithin1year | 22,188,083.34 | 22,188,083.34 | ||
| Othercurrentassets | 238,358,924.24 | 238,358,924.24 | ||
| Othernon-currentassets | 10,390,000.00 | 10,390,000.00 |
②BookvalueofvariousfinancialliabilitiesonthebalancesheetdateA.June30,2024
| Financialliabilityitems | Financialliabilitiesmeasuredatfairvalueandchangesincludedincurrentprofitsandlosses | Otherfinancialliability | Total |
| Shorttermloans | 1,036,717,261.11 | 1,036,717,261.11 | |
| Accountspayable | 70,607,024.80 | 70,607,024.80 | |
| OtherPayables | 71,848,286.50 | 71,848,286.50 | |
| Longtermloans | 530,000,000.00 | 530,000,000.00 | |
| Notespayable | 299,025,000.00 | 299,025,000.00 | |
| Non-currentliabilityduewithinoneyear | 100,000,000.00 | 100,000,000.00 |
B.December31,2023
| Financialliabilityitems | Financialliabilitiesmeasuredatfairvalueandchangesincludedincurrentprofitsandlosses | Otherfinancialliability | Total |
| Shorttermloans | 1,163,479,691.67 | 1,163,479,691.67 | |
| Derivativefinancialliability | 15,805,393.88 | 15,805,393.88 | |
| Accountspayable | 82,474,823.84 | 82,474,823.84 | |
| OtherPayables | 79,618,198.78 | 79,618,198.78 | |
| Longtermloans | 400,000,000.00 | 400,000,000.00 | |
| Notespayable | 298,800,000.00 | 298,800,000.00 | |
| Non-currentliabilityduewithinoneyear | 153,199,763.89 | 153,199,763.89 |
(2)CreditRiskOnJune30,2024,thelargestcreditriskexposurethatmaycausefinanciallosstotheCompanymainlycomesfromthelossonfinancialassetsoftheCompanyduetothefailureoftheotherpartytoperformitsobligations,including:
Bookvalueoffinancialassetsrecognizedintheconsolidatedbalancesheet;forafinancialinstrumentmeasuredatfairvalue,itsbookvaluereflectsitsriskexposureinsteadoftheirbiggestriskexposure,anditsbiggestriskexposuremayvarywiththechangeofitsfuturefairvalue.
Inordertoreducethecreditrisk,theCompanysetsrelevantpoliciestocontrolitsexposure,setscorrespondingcreditperiodsbasedoncustomer’sfinancialposition,possibilityofobtainingguaranteesfromthirdparties,creditrecordsandotherfactorssuchascurrentmarketconditionsandothercreditqualificationsforcustomerassessment,andimplementsothermonitoringprocedurestoensurethatnecessarymeasuresaretakentorecoveroverduecredits.Inaddition,theCompanyreviewsthecollectionofindividualaccountreceivablesoneachbalancesheetdateinordertomakesufficientprovisionforbaddebtsforcollectableamounts.Therefore,theCompany'smanagementbelievesthattheCompany'screditriskhasbeengreatlyreduced.
TheliquidityfundsoftheCompanyaredepositedinbanksandotherfinancialinstitutionswithhighcredit
rating,sothecreditriskofliquidityfundsislow.
(3)LiquidityRiskWhenmanagingliquidityrisk,theCompanykeepsandmonitorsadequatecashandcashequivalentsapprovedbyitsmanagementinordertomeettheCompany'sbusinessneedsandreducetheinfluencesofcashflowfluctuations.TheCompany'smanagementmonitorstheuseofbankloansandensurestheperformanceofloanagreements.
Maturityanalysisoffinancialliabilitiesintermsofundiscountedcontractualcashflows:
| Item | June30,2024 | |||
| WithinOneYear | OneToFiveYears | AboveFiveYears | Total | |
| Shorttermloans | 1,036,717,261.11 | 1,036,717,261.11 | ||
| Accountspayable | 70,607,024.80 | 70,607,024.80 | ||
| OtherPayables | 71,848,286.50 | 71,848,286.50 | ||
| Longtermloans | 530,000,000.00 | 530,000,000.00 | ||
| Notespayable | 299,025,000.00 | 299,025,000.00 | ||
| Non-currentliabilityduewithinoneyear | 100,000,000.00 | 100,000,000.00 | ||
(Continued)
| Item | December31,2023 | |||
| WithinOneYear | OneToFiveYears | AboveFiveYears | Total | |
| Shorttermloans | 1,163,479,691.67 | 1,163,479,691.67 | ||
| Derivativefinancialliability | 15,805,393.88 | 15,805,393.88 | ||
| Accountspayable | 82,474,823.84 | 82,474,823.84 | ||
| OtherPayables | 79,618,198.78 | 79,618,198.78 | ||
| Longtermloans | 400,000,000.00 | 400,000,000.00 | ||
| Notespayable | 298,800,000.00 | 298,800,000.00 | ||
| Non-currentliabilityduewithinoneyear | 153,199,763.89 | 153,199,763.89 | ||
(4)MarketriskMarketriskreferstotheriskthatthefairvalueorfuturecashflowoffinancialinstrumentswillfluctuateduetothechangeofmarketprice.Marketriskmainlyincludesinterestraterisk,foreignexchangeriskandotherpricerisks,suchasequityinstrumentinvestmentpricerisk.A.InterestRateRiskTheCompany'sinterestrateriskmainlyarisesfrombankloans.ThefinancialliabilitiesatfloatinginterestratesbringtheCompanytheinterestrateriskoncashflow,whilethefinancialliabilitiesatfixedinterestrates
bringtheCompanytheinterestrateriskonfairvalue.TheCompanydecidestherelativeproportionoffixedinterestratecontractsandfloatinginterestratecontractsaccordingtothecurrentmarketenvironment.AsofJune30,2024,theCompany'sinterest-bearingliabilitiesunderfloatingratecontractsdenominatedinRMBamountedtoRMB550,000,000.00andthoseunderfixedratecontractsdenominatedinRMBamountedtoRMB1,415,742,261.11.B.ExchangeRateRiskTheCompany'sexposuretoforeignexchangerisksisprimarilyrelatedtotheCompany'soperatingactivities(whenrevenuesandexpendituresaresettledinforeigncurrenciesotherthantheCompany'saccountingstandardcurrency)anditsnetinvestmentsinitsoverseassubsidiaries.TheCompany'sexposuretoforeignexchangerisksismainlyrelatedtoUSdollars.ExceptthatsomeoftheCompany'ssubsidiariespurchaseandsellinUSdollars,othermajorbusinessactivitiesoftheCompanyarepricedandsettledinRMB.
AsonJune30,2024,theCompany'sassetsandliabilitiesareinRMB,excepttheassetsorliabilitiesdescribedinthetablebelowareinUSdollars.
TheforeignexchangerisksarisingfromtheassetsandliabilitiesofsuchforeigncurrencybalancesmayhaveanimpactontheCompany'soperatingresults.
| Items | ClosingBalance | OpeningBalance |
| Monetaryfunds | 141,976,671.98 | 132,735,270.36 |
| AccountsReceivables | 592,736.91 | |
| OtherReceivables | 60,753,187.26 |
Thecompanyadoptssensitivityanalysistechnologytoanalyzethepossibleimpactofreasonableandpossiblechangesofriskvariablesoncurrentprofitandlossorowner'sequity.Asanyriskvariablerarelychangesinisolation,andthecorrelationbetweenvariableswillhaveasignificanteffectonthefinalimpactamountofariskvariablechange,thefollowingcontentiscarriedoutundertheassumptionthatthechangeofeachvariableisindependent.
Ontheassumptionthatforeigncurrencyassetsandforeigncurrencyliabilitiesremainrelativelystableandothervariablesremainunchanged,theafter-taximpactofpossiblereasonablechangesinexchangerateoncurrentprofitsandlossesandrightsandinterestsisasfollows:
| Item | Currentperiod | ||
| [USdollar]ExchangerateIncrease/(decrease) | Grossprofit/netprofitincrease/(decrease) | Increase/(decrease)inshareholders'equity | |
| TheRMByuandepreciatedagainsttheUSdollar | 5% | 1,000,234.39 | 1,000,234.39 |
| TheRMByuanappreciatedagainsttheUSdollar | -5% | -1,000,234.39 | -1,000,234.39 |
（Continued）
| Item | Priorperiod | ||
| [USdollar]ExchangerateIncrease/(decrease) | Grossprofit/netprofitincrease/(decrease) | Increase/(decrease)inshareholders'equity | |
| TheRMByuandepreciatedagainsttheUSdollar | 5% | 237,923.56 | 237,923.56 |
| TheRMByuanappreciatedagainsttheUSdollar | -5% | -237,923.56 | -237,923.56 |
2.Hedging
(1)TheCompanyundertakeriskmanagementthroughhedgingoperation
| Item | Correspondingriskmanagementstrategyandtarget | Qualitativeandquantitativeinformationonhedgedrisk | Theeconomicrelationshipbetweenthehedgedproject&relevanthedgedinstruments | Expectedeffectiveachievementofriskmanagementobjectives | Effectsofriskexposurefromtherelevanthedgedactivities |
| OilandOilSeeds | Usingthehedgingfunctionoffuturesinstrumentstocarryouthedgingbusiness,effectivelyavoidtheriskofmarketpricefluctuations,inordertoachievestablemanagement | Qualitative:non-creditrisk,includingbasisrisk,substituterisk,supply-demandrisketc.Quantitative:marketpricefluctuationforthehedgedprojectandinstruments | ExpectedFairvalueorcashflowduetothehedgedriskofhedgedprojectandrelevanthedginginstrumentsmoveinoppositedirectionBytheChangeswiththesamebasevariableorsimilarbasevariablethatiseconomicallyrelevant | Thetargetofexpectedriskmanagementhasbeenbasicallyachieved | Effectivelyavoidriskexposure |
(2)Thecompanyconductseligiblehedgingbusinessandapplieshedgingaccounting
| Item | BookvaluerelatedtothehedgedItemandinstruments | HedgingAdjustmentsonbookvalueofhedgeditemwhichhasbeenrecognized,inwhichcomprisesofhedgeditemaccumulatedfairvalue | Hedgingvalidityandsourcesofhedginginvalidityaspect | Effectofhedgingaccountingonthecompany'sfinancialstatements |
| HedgingRiskType | ||||
| Risktochangesinthefairvalueofhedging | 330,613,399.83 | 330,613,399.83 | Theinvalidatedportionoffairvaluehedgesduringthefinancialstatementperiodisnotmaterial. | Note1 |
| HedgingType | ||||
| Fairvaluehedging | 31,223,815.72 | 31,223,815.72 | Theinvalidatedportionoffairvaluehedgesduringthefinancialstatementperiodisnotmaterial.EffectiveHedging | Note1 |
Note1:TheCompanyisengagedintheproductionandprocessingofimportedsoybeansandrelated
products.Inordertohedgetheriskofchangesinthepricesofimportedsoybeansandotherproducts,theCompanyusesthefollowingfuturescontractstomanagethecommoditypriceriskfacedbyitsholdingsofinventoryandunrecognizedfirmpurchasecommitment.TheCompanyusesstandardsoybeanmealandsoybeanoilfuturescontractsontheDalianCommodityExchangetohedgetheCompany'sholdingsofsoybeanmealandsoybeanoilinventoriesaswellasitsunrecognizedfirmpurchasecommitmentsasameansofhedgingtheCompany'sexposuretotheriskofchangesinfairvaluearisingfromfluctuationsinthemarketpriceofimportedsoybeans;theuseofstandardfuturescontractsforsoybeans,palmoil,soybeanoil,rapeseedoilandotherfuturescontractsontheDalianCommodityExchangeandZhengzhouCommodityExchangeHedgingofcertaininventoriesofdomesticsoybeans,palmoil,soybeanoil,rapeseedoilandotherOilandOilSeedsheldbytheCompany,aswellasunrecognizedfirmpurchasecommitment,asameansofhedgingtheriskofchangesinfairvaluearisingfromfluctuationsinthemarketpricesofdomesticsoybeans,palmoil,soybeanoil,rapeseedoilandotherOilandOilSeedsbornebytheCompany.ThechangesinmarketpricesofsoybeanmealandsoybeanoilproducedbytheCompany'sprocessingofimportedsoybeanscontainariskcomponentassociatedwiththestandardsoybeanmealandsoybeanoilfuturescontracts,whichtheCompanydesignatesasthehedgeditem,andthestandardsoybeanmealandsoybeanoilfuturescontractsasthehedginginstruments.Thereisacorrelationbetweentheeconomicrelationshipbetweenthehedgeditemandthehedginginstrument,suchthatthesoybeanmealandsoybeanoilfuturescontractsandthevalueofthesoybeanmealandsoybeanoilsqueezedfromimportedsoybeanschangeinoppositedirectionsandarecorrelatedbecausetheyareexposedtothesamehedgedrisk.Themovementsinthemarketpricesofdomesticsoybeans,palmoil,soybeanoil,rapeseedoilandotherOilandOilSeedsoperatedbytheCompanycontainariskcomponentassociatedwiththestandardsoybean,palmoil,soybeanoil,rapeseedoilandotherOilandOilSeedsfuturescontracts,respectively,andtheCompanydesignatesthisriskcomponentasthehedgeditemandthestandardsoybean,palmoil,soybeanoilandrapeseedoilandotherOilandOilSeedsfuturescontractsashedginginstruments.Throughqualitativeanalysis,theCompanydeterminedthattheratioofthenumberofhedginginstrumentstothenumberofhedgeditemsshouldnotexceed0.9:1.TheCompanyutilizesfairvaluehedgesforthesetypesofhedges,andthespecifichedgingarrangementsareasfollows:
| HedgedItems | HedgingInstruments | HedgingMethods |
| Riskcomponentsininventoriesandunrecognizedfirmpurchasecommitments(soybeanoil,soybeanmeal,domesticallyproducedsoybeans,palmoil,rapeseedoilandotherOilandOilSeeds) | Soybeanoil,soybeanmeal,standardsoybean,palmoil,rapeseedoilandotherOilandOilSeedsfuturescontractsontheDalianandZhengzhouCommodityExchange | Useofcommodityfuturescontractstolockinpricefluctuationsforspotandunrecognizedfirmpurchasecommitment |
Duringthereportingperiod,theCompany'shedginginstrumentshedgedthegainsandlossesofthehedgeditems,andtherealizedgainsandlossesfromthecombinationoffuturesandspotamountedtoRMB143,892,300.
XIDisclosureofFairValues
1.Fairvaluesofassetsandliabilitiesmeasuredatfairvalueattheendoftheperiod
| Item | FairValuesattheEndofthePeriod | |||
| FirstLevelFairValueMeasurement | SecondLevelFairValueMeasurement | ThirdLevelFairValueMeasurement | Total | |
| One.Continuousfairvaluemeasurement | ||||
| Ⅰ.Transactionalfinancialassets | 31,223,815.72 | 31,223,815.72 | ||
| 1.Financialassetsthataremeasuredatfairvalueandwhosechangesareincludedinthecurrentprofitsandlosses | 31,223,815.72 | 31,223,815.72 | ||
| (1)Investmentindebtinstruments | ||||
| (2)Investmentinequityinstruments | ||||
| (3)Derivativefinancialassets | 31,223,815.72 | 31,223,815.72 | ||
| 2.Financialassetsdesignatedasfairvaluethroughprofitorloss | ||||
| (1)Investmentindebtinstruments | ||||
| (2)Investmentinequityinstruments | ||||
| (3)Others | ||||
| Ⅱ.Otherdebtinvestment | ||||
| Ⅲ.Investmentinotherequityinstruments | 20,000,000.00 | 20,000,000.00 | ||
| Totalassetscontinuouslymeasuredatfairvalue | 31,223,815.72 | 20,000,000.00 | 51,223,815.72 | |
| Ⅵ.Transactionalfinancialliabilities | ||||
| 1.Financialliabilitiesmeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses | ||||
| Including:transactionalbondsissued | ||||
| derivativefinancialliability | ||||
| others | ||||
| 2.Financialliabilitiesdesignatedasfairvaluethroughprofitorloss | ||||
| Totalliabilitiescontinuouslymeasuredatfairvalue | ||||
2.Basisfordeterminingmarketpricesofcontinuousandnon-continuousfirstlevelfairvaluemeasurementitemsTheCompanymakesoffersforfirstlevelfairvaluemeasurementaccordingtoopencontractsofthefuturesexchangeandthequotefromthebankonfinancialproductattheendoftheperiod.
3.Continuousandnon-continuousthird-levelfairvaluemeasurementitemsadoptvaluationtechniquesandqualitativeandquantitativeinformationofimportantparameters
Thecompany'sinvestmentinotherequityinstrumentsofthethirdlevelfairvaluemeasurementprojectisthe“threenotes”equityinvestmentthatwithoutcontrol,jointcontrolandsignificantinfluenceheldbythecompany.Onthebasisofanalyzingtheoperationstatusoftheinvestedenterpriseandcombiningwithrelevantsituations,thecompanytakestheinvestmentcostasthefairvalueofotherequityinstrumentinvestmentformeasurementattheendoftheperiod.
XIIRelatedPartiesandRelatedPartyTransactions
1.ParentCompanyoftheCompany
| NameofParentCompany | RegisteredPlace | NatureofBusiness | RegisteredCapital(tenthousandYuan) | ProportionofSharesHeldbyParentCompanyintheCompany(%) | ProportionofVotingPowerHeldbyParentCompanyintheCompany(%) |
| BeijingGrainGroupCo.Ltd. | Beijing | InvestmentManagement | 90,000.00 | 39.68 | 39.68 |
Note:TheultimatecontrollingpartyisBeijingState-ownedCapitalOperationManagementCo.,Ltd.
2.SubsidiariesoftheCompany
See1.EquityinSubsidiariesunderSectionVIIIoftheNotesfordetails.
3.JointVenturesandAffiliatesoftheCompany
See2.EquityinJointVenturesorAffiliatesunderSectionVIIIoftheNotesfordetails.
4.OtherRelatedParties
| NameofOtherRelatedParty | RelationshipwiththeCompany |
| BeijingLiubijuFoodsCo.,Ltd | Controlledbytheultimatecontrollingparty |
| ShanghaiShounongInvestmentHoldingCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingSanyuanSeedIndustryTechnologyCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingDahongmenGrainStorageCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingGushunFoodsCo.,Ltd | Controlledbytheultimatecontrollingparty |
| HebeiSanyuanFoodsCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingJingliangE-commerceCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingHundredYearsChestnutGardenEcologicalAgricultureCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingSanyuanFoodsCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingErshangDahongmenWulinlianFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingHeiliuHerdingTechnologyCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingAncientBoatRiceCo.,Ltd | Controlledbytheultimatecontrollingparty |
| HebeiLuanpingHuaduFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShuchengShanshuiRealEstateCo.,Ltd | Controlledbytheultimatecontrollingparty |
| NameofOtherRelatedParty | RelationshipwiththeCompany |
| BeijingBaiJiayiFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingLanfengVegetableDistributionCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingJingliangDongfangGrainandOilTradingCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingZhangxinGrainReserveCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingHaidianXijiaoGrainandOilSupplyStationCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingNo.34FoodSupplyDepartmentCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShounongDot-to-DotE-commerceCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingGrainGroupCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShounongCommercialChainCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingWuhuanShuntongSupplyChainManagementCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShounongConsumptionandPovertyAlleviationDoubleCreationCenterCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingYunongQualityAgriculturalProductsCultivationCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShounongTasteGroupCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingWangZhiheFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| HebeiShounongModernAgricultureTechnologyCo.,Ltd | Controlledbytheultimatecontrollingparty |
| ShanghaiShounongCommercialManagementCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShounongFoodGroupFinanceCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShounongFoodGroupCo.,Ltd | Controlledbytheultimatecontrollingparty |
| ShandongFukuanBiologicalEngineeringCo.,Ltd | Controlledbytheultimatecontrollingparty |
| ChengdeSanyuanJinxingDuckIndustryCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingXinderunAgriculturalTourismDevelopmentCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingAilaiFahiFoodsCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingNorthBeijingSugar&WineSalesCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingErshangYiheSunshineRealEstateCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShounongBigKitchenSupplyChainManagementGroupCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingJinggouTaiyuRealEstateCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingMunicipalGrainResearchInstituteCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingJingliangGreenValleytradingCo.,LTD | Controlledbytheultimatecontrollingparty |
| BeijingJinggongLogisticsCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingSanjiadianGrainStorageCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingJingliangCanalGrainandOilTradingCo.,Ltd | Controlledbytheultimatecontrollingparty |
| NameofOtherRelatedParty | RelationshipwiththeCompany |
| BeijingJingjingJinguGrainPurchasingandMarketingCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingLongqingXiaduMilitaryGrainSupplyCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingDeshengHotelCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShuangtongHuiheAgriculturalScienceandTechnologyDevelopmentCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShounongXiangshanConferenceCenterCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingBeijiaoFarmCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingYanqingFarmCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingLongmenVinegarCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingJingliangBiotechnologyGroupCo.,Ltd | Controlledbytheultimatecontrollingparty |
| TianjinXinchengKandaPharmaceuticalCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingXingFashionTradeCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingTaoshanGrainReserveCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShenghuaSiheAssetManagementCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingMunicipalGrainCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingShounongGrainReserveCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingJingliangGurunTrade,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingShounongFoodEmergencySecurityCenterCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingYueShengZhaiHalalFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingYanqiYueShengZhaiHalalFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingErshangMeatFoodGroupCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingYunongQualityAgriculturalProductsCultivationCo.,LtdHuairouBranch | Controlledbytheultimatecontrollingparty |
| BeijingShounongDevelopmentCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingNanyuanPlantOilFactory. | Controlledbytheultimatecontrollingparty |
| BeijingLiubijuFoodCo.,Ltd.HuairouBrewery | Controlledbytheultimatecontrollingparty |
| BeijingSanyuanSeedIndustryTechnologyCo.,LtdFeedBranch | Controlledbytheultimatecontrollingparty |
| BeijingSugarCigaretteAndWineGroupCo.,Ltd.SugarManagementBranch | Controlledbytheultimatecontrollingparty |
| BeijingChangyangFarmingCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingSouthernRuralAgriculturalProductionandOperationManagementCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingBeishuiYongxingAquaticProductsSalesCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingErshangJinghuaTeaIndustryCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| NameofOtherRelatedParty | RelationshipwiththeCompany |
| BeijingErshangMoqiZhonghongFoodCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingVegetableCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingErshangMuxiangyuanQingzhenMeatFoodCo.Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingHeiliuHerdingTechnologyCo.,LtdFoodCenter | Controlledbytheultimatecontrollingparty |
| BeijingHuaduSalesCo.Ltd. | Controlledbytheultimatecontrollingparty |
| HebeiAnpingDahongmenFoodCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| KaifengDahongmmenMeatFoodCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingHaiyunxingshuichanFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingJingmenLianshiAssetOperationManagementCo.Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingShounongCommercialChainCo.,Ltd.YanqingBranch | Controlledbytheultimatecontrollingparty |
| BeijingShounongXiangshanCommercialCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingXinanjiaoGrainStroageCo.Ltd. | Controlledbytheultimatecontrollingparty |
| KangtaiCultureBranchofBeijingErshangGroupCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingCailanziGroupCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingErshangJingshenSeafoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingSanyuanMeiyuanFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingChanghuaPropertyServiceCenterCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingHuanongMaterialsCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingSidaokouAquaticProductsTradingMarketCo.,Ltd | Controlledbytheultimatecontrollingparty |
| FruitBusinessBranchofBeijingNankouFarmCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| BeijingTaiyuPropertyManagementCo.,Ltd | Controlledbytheultimatecontrollingparty |
| FreshSupermarketFirstBranchofBeijingXinderunHotelManagementCo.,Ltd. | Controlledbytheultimatecontrollingparty |
| FengzhenDahongmenAgri-animalHusbandryCo.,Ltd | Controlledbytheultimatecontrollingparty |
| Huai'anJingliangLvguFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| ShanghaiSanyuanDairyCo.,Ltd | Controlledbytheultimatecontrollingparty |
| TongliaoDacangGrainTradingCo.,Ltd | Controlledbytheultimatecontrollingparty |
| WangZhihe(Fujian)FoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingJingtangDingshengTradingCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingBaiyuFoodCo.,Ltd | Controlledbytheultimatecontrollingparty |
| BeijingHaidianDistricttwobusinessvocationalskillstrainingschool | Controlledbytheultimatecontrollingparty |
5.Related-partyTransactions
(1)Related-partytransactionsforpurchasingandsellinggoodsandprovisionandacceptanceoflaborservicesPurchaseofgoodsoracceptanceoflaborservices
| RelatedParty | Related-partyTransaction | CurrentAmount | Amountoftransactionsapproved（intenthousandsYuan） | Whetherthetransactionlimitisexceeded | LastTermAmount |
| BeijingGushunFoodsCo.,Ltd | Purchaseofgoods | 7,564,498.25 | 1,800.00 | No | 6,462,585.18 |
| Otherrelatedentities | Purchaseofgoods | 9,794,747.08 | 1,200.00 | No | 177,280,899.93 |
| Otherrelatedentities | Acceptanceoflaborservices | 580.00 | No |
Saleofgoods/provisionoflaborservices
| RelatedParty | Related-partyTransaction | CurrentAmount | LastTermAmount |
| BeijingBaiJiayiFoodCo.,Ltd | Saleofgoods | 956,697.25 | 2,028,592.00 |
| BeijingAncientBoatRiceCo.,Ltd | Saleofgoods | 573,980.75 | 77,187.02 |
| BeijingJingliangDongfangGrainandOilTradingCo.,Ltd | Saleofgoods | 1,341,520.28 | 1,578,881.67 |
| BeijingLanfengVegetableDistributionCo.,Ltd | Saleofgoods | 348,547.63 | 286,494.00 |
| BeijingLiubijuFoodCo.,Ltd.HuairouBrewery | Saleofgoods | 54,495.41 | 6,684,323.12 |
| BeijingSanyuanSeedIndustryTechnologyCo.,LtdFeedBranch | Saleofgoods | 26,911,055.50 | 29,995,064.69 |
| BeijingHaidianXijiaoGrainandOilSupplyStationCo.,Ltd | Saleofgoods | 874,862.38 | 1,738,000.00 |
| BeijingJingjingJinguGrainPurchasingandMarketingCo.,Ltd | Saleofgoods | 1,008,073.39 | 655,540.00 |
| BeijingNo.34FoodSupplyDepartmentCo.,Ltd | Saleofgoods | 1,283,674.22 | 1,488,023.46 |
| BeijingZhangxinGrainReserveCo.,Ltd | Saleofgoods | 804,587.15 | 1,356,413.11 |
| BeijingShounongDevelopmentCo.,Ltd. | Saleofgoods | 488,546.78 | 30,838.00 |
| BeijingShounongConsumptionandPovertyAlleviationDoubleCreationCenterCo.,Ltd | Saleofgoods | 4,945,882.56 | 5,309,640.00 |
| BeijingWangZhiheFoodCo.,Ltd | Saleofgoods | 13,829,319.37 | 15,469,952.89 |
| BeijingWuhuanShuntongSupplyChainManagementCo.,Ltd | Saleofgoods | 1,081,550.08 | 570,548.64 |
| FengzhenDahongmenAgri-animalHusbandryCo.,Ltd | Saleofgoods | 243,453.21 | |
| HebeiAnpingDahongmenFoodCo.,Ltd. | Saleofgoods | 233,410.08 | 621,651.37 |
| HebeiLuanpingHuaduFoodCo.,Ltd | Saleofgoods | 22,679,467.01 | 21,221,360.94 |
| HebeiShounongModernAgricultureTechnologyCo.,Ltd | Saleofgoods | 9,595,145.59 | 7,153,219.41 |
| RelatedParty | Related-partyTransaction | CurrentAmount | LastTermAmount |
| ShanghaiShounongInvestmentHoldingCo.,Ltd | Saleofgoods | 221,340,202.14 | 216,123,328.83 |
| HebeiSanyuanFoodsCo.,Ltd | Saleofgoods | 994,300.00 | |
| Other-relatedentities | Saleofgoods | 1,389,957.38 | 1,542,690.43 |
| BeijingShounongFoodGroupCo.,Ltd | Provisionofservices | 1,745,187.40 | 11,438,400.93 |
| ShanghaiShounongInvestmentHoldingCo.,Ltd | Provisionofservices | 112,517.83 | 4,677,494.81 |
| BeijingGushunFoodsCo.,Ltd | Provisionofservices | 55,691.22 |
Related-partytransactionsforpurchasingandsellinggoodsandprovisionandacceptanceoflaborservices:
Thepriceofarelated-partytransactionshallbeequaltothepricechargedforanunrelated-partytransactionthatissameasorsimilartosuchrelated-partytransaction.
(2)Related-partyleaseIftheCompanyisthelessee
| NameofLessee | NameofLessor | TypeofLeasedAsset | Rentalcostofsimplifiedtreatmentofshort-termleaseandlow-valueleaseasset | Variableleasepaymentnotincludedinthecalculationofleaseliabilities | ||
| LeaseExpenseRecognizedintheCurrentPeriod | LeaseExpenseRecognizedinthePriorPeriod | LeaseExpenseRecognizedintheCurrentPeriod | LeaseExpenseRecognizedinthePriorPeriod | |||
| BeijingGuchuanEdibleOilCo.,Ltd. | BeijingGrainGroupCo.,Ltd | Houseleasing | 580,000.00 | |||
| BeijingGuchuanEdibleOilCo.,Ltd. | BeijingNanyuanPlantOilFactory. | Houseleasing | 323,809.52 | 323,809.52 | ||
| BeijingJingliangFoodCo.,Ltd. | BeijingMunicipalGrainResearchInstituteCo.,Ltd | Houseleasing | 1,618,878.70 | |||
| Beijingjinglianggubioilandgreaseco.LTD | BeijingGrainGroupCo.,Ltd | Houseleasing | 1,150,480.00 | |||
| BeijingJingliangOilandFatCo.,Ltd. | BeijingDahongmenGrainStorageCo.,Ltd | Houseleasing | 311,324.36 | |||
| BeijingTianweikangOilDistributionCenterCo.,Ltd. | BeijingShounongFoodEmergencySecurityCenterCo.,Ltd | Houseleasing | 1,378,125.00 | 1,312,500.00 |
（Continued）
| NameofLessee | Paymentofrent | Interestexpenseonleaseliabilities | Increaseinright-of-useassets | |||
| LeaseExpenseRecognizedintheCurrentPeriod | LeaseExpenseRecognizedinthePriorPeriod | LeaseExpenseRecognizedintheCurrentPeriod | LeaseExpenseRecognizedinthePriorPeriod | LeaseExpenseRecognizedintheCurrentPeriod | LeaseExpenseRecognizedinthePriorPeriod | |
| BeijingGuchuanEdibleOilCo.,Ltd. | ||||||
| BeijingGuchuanEdibleOilCo.,Ltd. | 323,809.52 | 323,809.52 | ||||
| BeijingJingliangFoodCo.,Ltd. | 12,880,733.94 | 1,842,194.39 | ||||
| Beijingjinglianggubioilandgreaseco.LTD | ||||||
| BeijingJingliangOilandFatCo.,Ltd. | 311,324.36 | |||||
| BeijingTianweikangOilDistributionCenterCo.,Ltd. | ||||||
(3)Remunerationforkeymanagementstaff
| Item | CurrentAmount(Unit:tenthousandyuan) | LastTermAmount(Unit:tenthousandyuan) |
| RemunerationforKeyManagementStaff | 249.88 | 223.83 |
(4)OtherRelated-partyTransactions
| GuaranteedParty | Related-partyTransaction | CurrentAmount | LastTermAmount |
| BeijingGushunFoodsCo.,Ltd | Brandroyaltyincome | 1,497,800.00 |
| BeijingHaidianDistricttwobusinessvocationalskillstrainingschool | Trainingexpenses | 1,650.00 | |
| BeijingMunicipalGrainResearchInstituteCo.,Ltd | Telephoneincome | 19,163.48 | |
| BeijingShounongFoodEmergencySecurityCenterCo.,Ltd | Electricityandotherexpenses | 92,671.26 | 63,518.42 |
| BeijingShounongFoodGroupFinanceCo.,Ltd | Interestincome | 3,888,582.97 | 2,066,407.44 |
| BeijingShounongXiangshanConferenceCenterCo.,Ltd | Conferenceandotherexpenses | 24,801.89 | 4,433.97 |
6.RelatedpartyReceivablesandPayables
(1)Receivables
| Item | Related-party | ClosingBalance | OpeningBalance | ||
| BookBalance | ProvisionforBadDebts | BookBalance | ProvisionforBadDebts | ||
| Monetaryfunds | BeijingShounongFoodGroupFinanceCo.,Ltd | 532,305,996.27 | 890,056,629.88 | ||
| Receivables | BeijingAilaiFahiFoodsCo.,Ltd | 21,289.60 | |||
| Receivables | BeijingBaiJiayiFoodCo.,Ltd | 191,250.00 | 228,000.00 | ||
| Receivables | BeijingErshangMeatFoodGroupCo.,Ltd. | 16,825.00 | 13,200.00 | ||
| Receivables | BeijingAncientBoatRiceCo.,Ltd | 295,520.00 | |||
| Receivables | BeijingGushunFoodsCo.,Ltd | 1,500,635.00 | |||
| Receivables | BeijingJingliangDongfangGrainandOilTradingCo.,Ltd | 285,663.50 | 212,077.75 | ||
| Receivables | BeijingJinggouTaiyuRealEstateCo.,Ltd | 69,600.00 | |||
| Receivables | BeijingLanfengVegetableDistributionCo.,Ltd | 56,250.00 | 36,765.00 | ||
| Receivables | BeijingSanyuanSeedIndustryTechnologyCo.,LtdFeedBranch | 3,825,909.02 | 2,271,574.62 | ||
| Receivables | BeijingHuanongMaterialsCo.,Ltd | 3,223.00 | |||
| Receivables | BeijingJingjingJinguGrainPurchasingandMarketingCo.,Ltd | 300,800.00 | |||
| Receivables | BeijingNo.34FoodSupplyDepartmentCo.,Ltd | 67,680.00 | |||
| Receivables | BeijingZhangxinGrainReserveCo.,Ltd | 246,000.00 | 99,000.00 | ||
| Item | Related-party | ClosingBalance | OpeningBalance | ||
| BookBalance | ProvisionforBadDebts | BookBalance | ProvisionforBadDebts | ||
| Receivables | BeijingShuchengShanshuiRealEstateCo.,Ltd | 6,730.00 | |||
| Receivables | BeijingShounongDot-to-DotE-commerceCo.,Ltd | 53,886.00 | |||
| Receivables | BeijingShounongCommercialChainCo.,Ltd | 658.00 | |||
| Receivables | BeijingShounongXiangshanCommercialCo.,Ltd. | 48,325.00 | |||
| Receivables | BeijingShounongConsumptionandPovertyAlleviationDoubleCreationCenterCo.,Ltd | 2,088,600.00 | 399,500.00 | ||
| Receivables | BeijingWuhuanShuntongSupplyChainManagementCo.,Ltd | 326,612.50 | |||
| Receivables | HebeiAnpingDahongmenFoodCo.,Ltd. | 178,200.00 | 86,000.00 | ||
| Receivables | HebeiLuanpingHuaduFoodCo.,Ltd | 13,145,439.04 | 3,619,958.60 | ||
| Receivables | HebeiShounongModernAgricultureTechnologyCo.,Ltd | 1,176,790.58 | 1,047,816.96 | ||
| Receivables | KaifengDahongmmenMeatFoodCo.,Ltd. | 64,500.00 | |||
| Receivables | BeijingSanyuanFoodsCo.,Ltd | 112,290.00 | |||
| Receivables | ShanghaiShounongInvestmentHoldingCo.,Ltd | 677,093.11 | |||
| Receivables | BeijingErshangDahongmenWulinlianFoodCo.,Ltd | 477.00 | |||
| Prepayment | BeijingBaiyuFoodCo.,Ltd | 550.00 | |||
| OtherReceivables | BeijingAncientBoatRiceCo.,Ltd | 50,000.00 | |||
(2)Payables
| Item | Related-party | ClosingBalance | OpeningBalance |
| Payables | BeijingErshangMeatFoodGroupCo.,Ltd. | 79,497.34 | 3,633.06 |
| Payables | BeijingAncientBoatRiceCo.,Ltd | 64,711.01 |
| Item | Related-party | ClosingBalance | OpeningBalance |
| Payables | BeijingGushunFoodsCo.,Ltd | 153,137.62 | 464,000.00 |
| Payables | BeijingLiubijuFoodsCo.,Ltd | 458.76 | |
| Payables | BeijingSouthernRuralAgriculturalProductionandOperationManagementCo.,Ltd. | 660.00 | 410.00 |
| Payables | BeijingShounongFoodEmergencySecurityCenterCo.,Ltd | 1,378,125.00 | |
| Payables | BeijingSugarCigaretteAndWineGroupCo.,Ltd.SugarManagementBranch | 775.22 | 3,763.10 |
| Payables | BeijingYanqiYueShengZhaiHalalFoodCo.,Ltd | 50.45 | |
| Payables | BeijingShounongGrainReserveCo.,Ltd | 720,000.00 | |
| Payables | BeijingErshangDahongmenWulinlianFoodCo.,Ltd | 96.79 | |
| Payables | BeijingShounongDevelopmentCo.,Ltd. | 559,500.00 | |
| Otherpayables | KangtaiCultureBranchofBeijingErshangGroupCo.,Ltd | 210.00 | 210.00 |
| Otherpayables | BeijingJingliangE-commerceCo.,Ltd | 42,432.00 | |
| Otherpayables | BeijingGrainGroupCo.,Ltd | 4,606,680.00 | 3,456,200.00 |
| Otherpayables | ShanghaiShounongInvestmentHoldingCo.,Ltd | 188,422.48 | |
| Contractliability | BeijingShuchengShanshuiRealEstateCo.,Ltd | 3,091.74 | |
| Contractliability | BeijingShounongDevelopmentCo.,Ltd. | 49,082.57 | |
| Contractliability | BeijingShuangtongHuiheAgriculturalScienceandTechnologyDevelopmentCo.,Ltd | 2,201.83 | |
| Contractliability | ShanghaiShounongInvestmentHoldingCo.,Ltd | 3,341,866.73 | 7,259,750.24 |
| Othercurrentliability | BeijingShuangtongHuiheAgriculturalScienceandTechnologyDevelopmentCo.,Ltd | 198.17 | |
| Othercurrentliability | ShanghaiShounongInvestmentHoldingCo.,Ltd | 300,768.01 | 653,377.52 |
| Othercurrentliability | BeijingShuchengShanshuiRealEstateCo.,Ltd | 278.26 | |
| Othercurrentliability | BeijingShounongDevelopmentCo.,Ltd. | 4,417.43 | |
| Accountcollectedinadvance | BeijingJingliangE-commerceCo.,Ltd | 42,432.00 |
XIIISharebasedpaymentTherearenoshare-basedpaymentsincurredthisyearforthecompany.XIVCommitmentsandContingenciesBytheendofthisreport,theactualamountofguaranteeofthecompanyanditsholdingsubsidiariesis1.589billionyuan,accountingfor50.62%ofthecompany'sauditednetassetsattributabletotheparentcompanyinthelatestperiod,whichareallguaranteesbetweenthecompanyanditsholdingsubsidiaries.Thereisnoguarantee
providedbytheCompanyanditsholdingsubsidiarytoanyentityotherthantheconsolidatedstatement,andthereisnodelayinexternalguarantee,guaranteeinvolvinglitigationorlossduetothejudgmentoflossduetoguarantee.
XVEventsaftertheBalanceSheetDate
1.DistributionofProfitsAsofthedateofthisfinancialreport,thecompanyhasnoimportantnonadjustmentmattersthatneedtobedisclosed.XVIOtherImportantMatters
1.AnnuityPlanBasicinformationofannuity:BeijingJingliangFoodCo.,Ltd.,Jingliang(Tianjin)grainandOilIndustryCo.,Ltd.,BeijingGuchuanOilCo.,Ltd.,BeijingEisenLubaoOilCo.,Ltd.,BeijingJingliangOilCo.,Ltd.,BeijingGuchuanBreadFoodCo.,Ltd.,andBeijingTianweikangOilDistributionCenterCo.,Ltd.ofthecompanyparticipatedintheenterpriseannuityplanofBeijingshounongFoodGroupCo.,Ltd.,andformulatedtheimplementationrulesoftheirrespectiveenterprisesundertheannuityplan.ThenameoftheannuityplanisPingAnJinxiulifeenterpriseannuityplan;thetrusteeandaccountmanagerarepinganEndowmentInsuranceCo.,Ltd.;thetrusteeisChinaCITICBankCo.,Ltd.
2.InformationofDivision
(1)BasisofdeterminationandaccountingpoliciesforreportingofdivisionsTheCompany'sbusinessesconsistoffoodprocessing,oilandgreaseandsoonaccordingtoitsinternalorganizationalstructure,managementrequirementsandinternalreportingsystem.TheCompany'smanagementregularlyevaluatestheoperatingresultsofthesedivisionstodeterminetheallocationofresourcestothemandevaluatetheirperformance.Theinformationreportedbydivisionsshouldbedisclosedaccordingtotheaccountingpoliciesandmeasurementstandardsadoptedbysuchdivisionswhentheyarereportingtothemanagement.Thesemeasurementbasesshouldbeconsistentwiththeaccountingandmeasurementbasesforpreparationoffinancialstatements.
(2)Reportingofthefinancialinformationofdivisions
| Item | FoodProcessing | Oil&Grease | OffsetAmongDivisions | Total |
| Operatingincome | 437,380,249.12 | 5,118,555,457.42 | 28,712.40 | 5,555,906,994.14 |
| Operatingcosts | 344,064,429.13 | 4,987,979,901.44 | 28,712.40 | 5,332,015,618.17 |
| Totalassets | 999,091,734.40 | 6,010,168,087.78 | 432,000,072.00 | 6,577,259,750.18 |
| Totalliabilities | 107,509,630.38 | 3,351,703,390.89 | 432,000,072.00 | 3,027,212,949.27 |
XVIINotestoMainFinancialStatementItemsofParentCompany
1.Monetaryfunds
| Item | ClosingBalance | OpeningBalance |
| Cashonhand | ||
| BankDeposits | 338,712,954.06 | 23,734,670.48 |
| OtherCurrencyFunds | 8,589.67 | 8,585.33 |
| Total | 338,721,543.73 | 23,743,255.81 |
2.OtherReceivable
| Item | ClosingBalance | OpeningBalance |
| Dividendsreceivable | ||
| Otherreceivables | 910,000,000.00 | 950,000,000.00 |
| Total | 910,000,000.00 | 950,000,000.00 |
(1)OtherReceivablesA.Disclosedaccordingtoaging
| Aging | ClosingBalance | OpeningBalance |
| Within1Year(including1year) | 290,000,000.00 | 800,000,000.00 |
| 1to2years(including2years) | 510,000,000.00 | 29,000,000.00 |
| 2to3years(including3years) | 29,000,000.00 | 121,000,000.00 |
| 3to4years(including4years) | 81,000,000.00 | |
| Total | 910,000,000.00 | 950,000,000.00 |
B.Classificationofotherreceivablesbynatureoffunds
| NatureofFunds | BookBalanceatEndofPeriod | BookBalanceatBeginningofYear |
| IntercourseFundsofEntities | 910,000,000.00 | 950,000,000.00 |
| Total | 910,000,000.00 | 950,000,000.00 |
C.Otherreceivablesaccordingtotopfiveofbalanceatendofperiodcollectedbydebtors
| NameofOrganization | BalanceatEndofPeriod | ProportioninoverallClosingBalanceofotherreceivables(%)%） | NatureofFunds | Aging | ClosingBalanceofbaddebtreserves |
| BeijingJingliangFoodCo.,Ltd. | 910,000,000.00 | 100.00 | Relatedpartyborrowing | Within4years | |
| Total | 910,000,000.00 | 100.00 |
3.Long-termEquityInvestment
| Item | ClosingBalance | ||
| BookBalance | ProvisionforImpairment | BookValue | |
| Investmentinsubsidiaries | 2,340,799,283.19 | 2,340,799,283.19 | |
| Item | ClosingBalance | ||
| BookBalance | ProvisionforImpairment | BookValue | |
| Total | 2,340,799,283.19 | 2,340,799,283.19 | |
(Continued)
| Item | OpeningBalance | ||
| BookBalance | ProvisionforImpairment | BookValue | |
| Investmentinsubsidiaries | 2,625,657,283.19 | 2,625,657,283.19 | |
| Total | 2,625,657,283.19 | 2,625,657,283.19 | |
Investmentinsubsidiaries
| InvestedEntity | OpeningBalance | CurrentIncrease | CurrentDecrease | ClosingBalance | CurrentProvisionforImpairment | ClosingBalanceofProvisionforImpairment |
| BeijingJingliangFoodCo.,Ltd. | 2,336,639,964.05 | 284,858,000.00 | 2,051,781,964.05 | |||
| ZhejianglittleprinceFoodCo.,Ltd | 249,017,319.14 | 249,017,319.14 | ||||
| Jingliang(Yangpu)GrainandOilIndustryCo.,Ltd. | 6,500,000.00 | 6,500,000.00 | ||||
| Jingliang(Caofeidian)AgriculturalDevelopmentCo.,Ltd. | 25,500,000.00 | 25,500,000.00 | ||||
| Jingliang(Beijing)FoodMarketingManagementCo.,Ltd | 8,000,000.00 | 8,000,000.00 | ||||
| Total | 2,625,657,283.19 | 284,858,000.00 | 2,340,799,283.19 |
4.OperatingIncomeandOperatingcostsDetailsofoperatingincomeandoperatingcosts
| Item | CurrentAmount | LastTermAmount | ||
| Income | Cost | Income | Cost | |
| Otherbusinesses | 2,047,313.31 | 170,581.26 | 11,839,311.03 | 170,581.26 |
| Total | 2,047,313.31 | 170,581.26 | 11,839,311.03 | 170,581.26 |
5.Incomefrominvestment
| Sourcesofinvestmentincome | CurrentAmount | LastTermAmount |
| Longtermequityinvestmentincomecalculatedbycostmethod | 191,582.04 | 150,814.85 |
| Investmentincomefromdisposaloflong-termequityinvestments | 27,829,877.46 | |
| Total | 28,021,459.50 | 150,814.85 |
XVIIISupplementaryInformation
1.Detailsofnon-recurringprofitandlossinthereportingperiod
| Detailsofnon-recurringprofitandloss | Amount | Note |
| Gainsandlossesondisposalofnoncurrentassets，includingprovisionforassetimpairmentwrite-offportion | -59,859.78 | |
| Governmentsubsidiesincludedinthecurrentprofitsandlosses(closelyrelatedtothebusinessoftheenterprise,exceptthegovernmentsubsidiesenjoyedaccordingtothenationalunifiedstandardquotaorquantitative) | 5,876,740.78 | |
| Inadditiontotheeffectivehedgingbusinessrelatedtothenormalbusinessofthecompany,theprofitandlossfromchangesinfairvaluearisingfromtheholdingoffinancialassetsandfinancialliabilitiesbynon-financialenterprises,aswellastheinvestmentincomefromthedisposaloffinancialassetsandfinancialliabilities | ||
| Incomefromcustodialfeesobtainedfromentrustedoperations | 1,646,403.21 | |
| Othernon-operatingincomeandexpensesotherthantheabove | 5,907,678.04 | |
| Otherprofitandlossitemsthatmeetthedefinitionofnonrecurringprofitandloss | ||
| Less:amountaffectedbyincometax | 1,166,874.83 | |
| Nonrecurringprofitandlossattributabletominorityshareholders(aftertax) | 1,435,780.72 | |
| Total | 10,768,306.70 |
2.ReturnonequityandearningspershareSituationonreturnonequityandearningspershare
| CurrentProfit | WeightedReturnonAverageEquity(ROAE)(%) | EPS | |
| BasicEPS | DilutedEPS | ||
| NetprofitattributabletotheCompany'scommonshareholders | 0.76 | 0.03 | 0.03 |
| Netprofitattributabletocommonshareholdersafterdeductionofnon-recurringgainsandlosses | 0.42 | 0.02 | 0.02 |
HainanJingliangHoldingsCo.,Ltd.
28August2024