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201620158,098.4331.42%20162015201720162,075.086.13%2018630
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(AmericoldRealtyTrustUSREIT)2018
108,172.97130,047.23188,250.5760,758.7095.89%90.25%96.70%98.52%
()
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DHL
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2018
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()
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2017201620153
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9.47%7.35%6.88%9.61%
2015-20179.61%6.88%7.35%20181-69.47%
(2014-2020)
AAAAA
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2016
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2016-2017
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11.54%14.96%10.35%3.38%
()
201712312,884,597.0050,350,000.00
201811
20162017
3、公允价值变动损益-Americold Realty Trust(USREIT)及面临风险中国外运持有Americold Realty Trust公司优先股股权，并对此采用市场比较法之中
的指导性上市可比公司方法来计算公允价值。2017年12月31日优先股公允价值为美元5,844.00万元，折合人民币38,191.15万元，该公允价值以中证评估有限公司出具的编号为B26717的评估报告确认； 2016年12月31日的优先股公允价值为美元5,718.05万元，折合人民币39,670.96万元，该公允价值以中证评估有限公司出具的编号为 B30916的评估报告确认，因此2017年中国外运确认投资损失1,487.61万元。
于2018年1月23日，中国外运原先持有的Americold所发行的可换股优先股转换为共4,432,034.00股普通股，该普通股设有由换股日起半年的限售期。根据中证评估有限公司于2018年4月4日出具的B06718号《Americold缺乏流通折扣率计算报告书》，上述限售普通股缺乏流通性折扣率为4.3%。于2018年6月30日，Americold每股普通股在纽约交易所的收市价为美元22.02元，以缺乏流通性折扣率 4.3%测算普通股每股公允价值为美元美元21.07元，该金融资产的公允价值为人民币61,787.77万元。因此2018年1-6月，中国外运确认投资收益23,609.60万元。
持有Americold Realty Trust公司优先股(限售普通股)股权带来的公允价值变动损益与Americold Realty Trust公司股价直接相关，受股价波动影响，具有一定不确定性。
三、补充披露情况上述相关内容已在本次交易报告书“第十一节 管理层讨论与分析”之“一、本次
换股吸收合并前中国外运财务状况和经营成果的讨论与分析”之“(二)盈利能力分析”之“7、非经常性损益”部分进行了补充披露。
会计师核查意见：
会计师德勤已阅读 公司上述回复，上 述回复与德勤在执行中国外运股份有限公司2018年1月1日至6月30日止期间、2017年度、2016年度及2015年度财务报表审计过程中了解到的信息相一致。
中国外运报告期内政府补助的确认依据恰当，主要政府补助与主营业务的相关。上述金融资 产主要为持有的上市公司股票、非上市公司股权和优先股(限售普通股)，未发现收益确认存在重大不一致。
反馈问题二十四：申请文件显示，2017年11月，中国外运合并招商物流，该交易构成同一控制下企业合并。截至报告期各期末，中国外运商誉分别为3,938.72万元、247,525.65万元及 250,858,14万元，占资产总额的比例分别为 0.11%、4.28%及4.02%。中国外运2016年末商誉账面价值较2015年末增加243,586.92万元，为合并招商物流产生的商誉。请你公司补充披露：1)合并招商物流事项对报告期内中国外运经营业绩的影响。2)在合并事项构成同一控制下企业合并的情况下，商誉的计算过程及确认依据。3)无形资产、商誉占净资产的比例，是否符合发行条件。请 独立财务顾问、财务顾问和会计师核查并发表明确意见。
2017
201620172016
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2018.6.30/20181-62017.12.31/20172016.12.31/2016
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()()220,406.8389.26%
201062LoscamGroup()
250,516.50(4.26)2011
0.064.3220151231(
)2015204,601.66(4.32)20171231220,406.83(4.32)20161120171231
2015-2018630
2018.6.302017.12.312016.12.312015.12.31
535,992.79541,061.06441,297.49281,936.17498,310.22502,710.14405,252.21273,285.02
37,682.5638,350.9236,045.288,651.15
241,347.72250,858.14247,525.653,938.722,641,415.942,583,506.042,348,423.751,871,870.50()/1.43%1.48%1.53%0.46%/9.14%9.71%10.54%0.21%
10.56%11.19%12.07%0.67%
()()
20%
()1(2)7)
1201620152017
201863010.56%