StockCode:000037,200037ShortFormofStock:ShenNanDianA,ShenNanDianBNo.:2020-039
深圳南山热电股份有限公司ShenzhenNanshanPowerCo.,Ltd.
Semi-annualReport2020
August2020
SectionI.ImportantNotice,ContentsandInterpretation
BoardofDirectors,SupervisoryCommittee,alldirectors,supervisorsandseniorofficersofShenzhenNanshanPowerCo.,Ltd.(hereinafter,theCompany)guaranteethattheSemi-AnnualReportcontainsnomisrepresentations,misleadingstatementsormaterialomissions,andtakeallresponsibilities,individualand/orjoint,forthereality,accuracyandcompletionofthewholecontents.PrincipaloftheCompany-ChairmanLiXinwei,personinchargerofaccountingworks-DirectorandGMChenYuhui,CFODaiXijiandpersoninchargeofaccountingorgan(chiefaccountants)-deputyGMWangYi(actforfinancialworks)guaranteethattheFinancialReportofthesemi-annualreportdisclosedistruthful,accurateandcomplete.AlldirectorsareattendedtheBoardMeetingforsemi-annualreportdeliberation.Concerningtheforward-lookingstatementswithfutureplanninginvolvedintheSemi-AnnualReport,theydonotconstituteasubstantialcommitmentforinvestors.Investorsareadvisedtoexercisecautionofinvestmentrisks.TheCompanyhasnoplansofcashdividenddistributed,nobonussharesandhasnoshareconvertedfromcapitalreserveeitherinthemid-term.Thesemi-annualreporthasbeenpreparedinbothChineseandEnglish,forany
discrepancies,theChineseversionshallprevail.Pleasereadthefullsemi-annualreportseriously.
Contents
SectionIImportantNotice,ContentsandInterpretation ...... 2
SectionIICompanyProfileandMainFinancialIndexes ...... 6
SectionIIISummaryofCompanyBusiness ...... 9
SectionIVDiscussionandAnalysisoftheOperation ...... 11
SectionVImportantEvents ...... 23
SectionVIChangesinsharesandparticularaboutshareholders ...... 35
SectionVIIPreferredStock ...... 40
SectionVIIIConvertibleBonds ...... 41
SectionIXParticularsaboutDirectors,SupervisorsandSeniorOfficers ...... 42
SectionXCorporate-bond ...... 43
SectionXIFinancialReport ...... 44
SectionXIIDocumentsavailableforreferenc ...... 45
Interpretation
| Items | Refersto | Contents |
| Company,theCompany,ShenNanDian,Thelistedcompany | Refersto | ShenzhenNanshanPowerCo.,Ltd. |
| ShenNanDianZhongshanCompany | Refersto | ShenNanDian(Zhongshan)ElectricPowerCo.,Ltd. |
| ShenNanDianDongguanCompany | Refersto | ShenNanDian(Dongguan)WeimeiElectricPowerCo.,Ltd |
| ShenNanDianEngineeringCompany | Refersto | ShenzhenShennandianTurbineEngineeringTechnologyCo.,Ltd. |
| ShenNanDianEnvironmentProtectionCompany | Refersto | ShenzhenShenNanDianEnvironmentProtectionCo.,Ltd. |
| ServerCompany | Refersto | ShenzhenServerPetrochemicalSupplyingCo.,Ltd |
| NewPowerCompany | Refersto | ShenzhenNewPowerIndustrialCo.,Ltd. |
| SingaporeCompany | Refersto | ShenNanEnergy(Singapore)Co.,Ltd. |
| NanshanPowerFactory | Refersto | NanshanPowerFactoryofShenzhenNanshanPowerCo.,Ltd. |
| ZhongshanNanlangPowerPlant | Refersto | ZhongshanNanlangPowerPlantofShenNanDian(Zhongshan)ElectricPowerCo.,Ltd |
| ShenzhenCapitalHoldings | Refersto | ShenzhenCapitalHoldingsCo.,Ltd.,thenamebeforechangedon3March2020wasShenzhenCapitalCo.,Ltd. |
| ShenzhenGas | Refersto | ShenzhenGasGroupCo.,Ltd. |
| ShenzhenQianhaiAuthority | Refersto | QianhaiShenzhen-HongkongModernServiceIndustryCooperationZoneofShenzhenAuthority |
| Auditinstitution,LIXINZHONGLIAN,accountingorgan | Refersto | LIXINZHONGLIANCPAS(SPECIALGENERALPARTNERSHIP) |
| ArticlesofAssociation | Refersto | ArticleofAssociationofShenzhenNanshanPowerCo.,Ltd. |
| Yuan,tenthousandYuan,onehundredmillion | Refersto | Exceptthespecialdescriptionofthemonetaryunit,therestofthemonetaryunitisRMBYuan,tenthousandYuan,onehundredmillionYuan |
| Reportingperiod | Refersto | 1January2020to30June2020 |
SectionII.CompanyProfileandMainFinancialIndexesI.Companyinformation
| Shortformofthestock | ShenNanDianA,ShenNanDianB | Stockcode | 000037,200037 |
| Stockexchangeforlisting | ShenzhenStockExchange | ||
| NameoftheCompany(inChinese) | 深圳南山热电股份有限公司 | ||
| ShortformoftheCompany(inChinese)(ifapplicable) | 深南电 | ||
| ForeignnameoftheCompany(ifapplicable) | ShenzhenNanshanPowerCo.,Ltd. | ||
| Legalrepresentative | LiXinwei | ||
II.Contactperson/ways
| SecretaryoftheBoard | Rep.ofsecuritiesaffairs | |
| Name | ZhangJie | |
| Contactadds. | 16/F-17/F,HantangBuilding,OCT,NanshanDistrict,Shenzhen,GuangdongProvince | |
| Tel. | 0755-26003611 | |
| Fax. | 0755-26003684 | |
| investor@nspower.com.cn |
III.Others
1.Wayofcontact
Whetherregistrationsaddress,officesaddressandcodesaswellaswebsiteandemailoftheCompanychangedinreportingperiodornot
□Applicable√NotapplicableRegistrationsaddress,officesaddressandcodesaswellaswebsiteandemailoftheCompanyhasnochangeinreportingperiod,foundmoredetailsinAnnualReport2019.
2.Informationdisclosureandpreparationplace
Whetherinformationdisclosureandpreparationplacechangedinreportingperiodornot
□Applicable√Notapplicable
Thenewspaperappointedforinformationdisclosure,websiteforsemi-annualreportpublishappointedbyCSRCandpreparationplaceforsemi-annualreporthavenochangeinreportingperiod,foundmoredetailsinAnnualReport2019.IV.Mainaccountingdataandfinancialindexes
Whetherithasretroactiveadjustmentorre-statementonpreviousaccountingdataornot
□Yes√No
| Currentperiod | Sameperiodoflastyear | Increase/decreaseinthisreporty-o-y | |
| Operatingrevenue(RMB) | 518,150,606.21 | 408,124,616.38 | 26.96% |
| NetprofitattributabletoshareholdersofthelistedCompany(RMB) | 52,040,498.42 | -25,283,190.82 | -305.83% |
| NetprofitattributabletoshareholdersofthelistedCompanyafterdeductingnon-recurringgainsandlosses(RMB) | 10,149,730.42 | -28,106,510.82 | -136.11% |
| Netcashflowarisingfromoperatingactivities(RMB) | 69,936,561.46 | 56,217,376.89 | 24.40% |
| Basicearningspershare(RMB/Share) | 0.09 | -0.04 | -325.00% |
| Dilutedearningspershare(RMB/Share) | 0.09 | -0.04 | -325.00% |
| WeightedaverageROE | 0.51% | -1.43% | 1.94% |
| Endofcurrentperiod | Endoflastperiod | Increase/decreaseinthisreport-endoverthatoflastperiod-end | |
| Totalassets(RMB) | 3,051,547,885.42 | 3,219,261,720.55 | -5.21% |
| NetassetsattributabletoshareholderoflistedCompany(RMB) | 2,042,758,054.74 | 2,002,772,808.24 | 2.00% |
V.DifferenceoftheaccountingdataunderaccountingrulesinandoutofChina
1.Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothIAS(InternationalAccountingStandards)andChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable√NotapplicableTheCompanyhadnodifferenceofthenetprofitornetassetsdisclosedinfinancialreport,undereitherIAS(InternationalAccountingStandards)orChineseGAAP(GenerallyAcceptedAccountingPrinciples)intheperiod.
2.Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothforeignaccountingrulesandChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable√NotapplicableTheCompanyhadnodifferenceofthenetprofitornetassetsdisclosedinfinancialreport,undereitherforeignaccountingrulesor
ChineseGAAP(GenerallyAcceptedAccountingPrinciples)intheperiod.VI.Itemsandamountsofextraordinaryprofit(gains)/loss
√Applicable□Notapplicable
InRMB
| Item | Amount | Note |
| Gains/lossesfromthedisposalofnon-currentasset(includingthewrite-offthataccruedforimpairmentofassets) | 34,363,417.21 | Theinvestmentincomefromsoldoutthe70%equityofShenNanDianDongguanCompany |
| Governmentalsubsidycalculatedintocurrentgainsandlosses(whilecloselyrelatedwiththenormalbusinessoftheCompany,excludingthefixed-amountorfixed-proportiongovernmentalsubsidyaccordingtotheunifiednationalstandard) | 7,621,471.38 | Receiveunemploymentinsurancepremiumrefundsandapportionmentofgovernmentsubsidiesrelatedtoassets |
| Othernon-operatingrevenueandexpenditureexceptfortheaforementioneditems | -6,356.16 | |
| Less:impactonincometax | 67,935.50 | |
| Impactonminorityshareholders’equity(post-tax) | 19,828.93 | |
| Total | 41,890,768.00 | -- |
Concerningtheextraordinaryprofit(gain)/lossdefinedbyQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,andtheitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,explainreasons
□Applicable√NotapplicableConcerningtheextraordinaryprofit(gain)/lossdefinedbyQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,andtheitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,theCompanyhasnosuchitemsinthereportingperiodfortheaforesaid
SectionIII.SummaryofCompanyBusiness
I.MainbusinessesoftheCompanyinthereportingperiod
Thecompanyisspecializedinpowerandthermalsupply,aswellasprovidingtechnicalconsultingandtechnicalservicesforpowerplant(stations).Atbeginningoftheperiod,thecompanyhasthreewholly-ownedorholdinggasturbineplants,whicharealllocatedinthepowerloadcenterofPearlRiverDeltaarea.Inreportingperiod,the70%equityofShenNanDianDongguanCompany,directlyorindirectlyholdbytheCompanyaretransfertoShenzhenGasbyagreement.Therefore,uptothereportingperiod-end,thecompanyhastwowholly-ownedorholdinggasturbineplants,whichequippedwithfivesetsof9Egassteamcombinecyclepowergeneratingunits,withtotalinstalledcapacityto900000KW(NanshanPowerFactory:3×180000KW,ZhongshanNanlangPowerPlant:2×180000KW).Duringthereportingperiod,theCompanymainlyengagedinthecombinedcyclepowergenerationbusinesswithgas-steam,thesubordinateNanshanPowerFactoryandZhongshanNanlangPowerPlantareoperatesinanormalstation.FromJanuarytoJune2020,thecompanywithstoodthepressureoftherapidshrinkingoftheelectricitydemandofthewholesocietycausedbythenovelcoronaviruspneumoniaepidemic,andcompletedthefullpowerscale(on-gridpower+electricitymarketingpower)of893millionKWH(dataofShenNanDianDongguanCompanyisnotincluded),completingtheactualon-gridpowerof333millionKWHandtheelectricitymarketingpowerof560millionKWH.Completionoftheelectricityforsubordinatepowerplantsareas:NanshanPowerFactory(NewPowerCompanyincluded)completed272millionKWHofon-gridelectricity,thefullelectricityquantitytotaled466billionKWH,withayear-on-yeardownof7.72%;ZhongshanNanlangPowerPlantcompleted61millionKWHofon-gridelectricity,thefullelectricityquantitytotaled427millionKWH,withayear-on-yeargrowthof18.61%.Duringthereportingperiod,thecompanynotonlystrivetoimprovetheoperatingefficiencyofitsmainbusinessofelectricpower,butalsomadegreateffortstotheoperationandexpansionofrelatedbusinesses.Inresponsetotheimpactoftheepidemic,thesubordinateShenNanDianEngineeringCompanychangeditsthinkingpatterninatimelymanner,adjusteditsbusinessstrategy,andstrivedtoturncrisesintoopportunities.Whilecontinuingtomanageexistingoverseasprojects,itrapidlyincreasedinvestmentinthedomestictechnicalservicemarketsandactivelyexploredthetechnicalconsultingandtechnicalservicebusinessforgasturbinepowerstationconstructionprojectsindomesticandforeignmarkets;ShenNanDianEnvironmentProtectionCompanytooktheinitiative,activelycommunicated,madeeveryefforttoensurethestableoperationofthesludgetreatmentproductionline,andearnestlyperformedenvironmentalprotectionresponsibilities.Inthefirsthalfoftheyear,atotalof64,300tonsofsludgewereprocessed,andrealizedsludgereduction,harmlesstreatmentandcomprehensiveutilizationofresources.
II.Majorchangesinmainassets
1.Majorchangesinmainassets
| Majorassets | Noteofmajorchanges |
| Equityassets | Nomajorchanges |
| Fixedassets | Duringthereportingperiod,70%equityofShenNanDianDongguanCompanyaresoldoutbytheCompany,andatendofperiod,ShenNanDianDongguanCompanyexcludedinconsolidatescope,thusthefixedassetshave30.88%declinedoverthatof |
| year-beginning | |
| Intangibleassets | Duringthereportingperiod,70%equityofShenNanDianDongguanCompanyaresoldoutbytheCompany,andatendofperiod,ShenNanDianDongguanCompanyexcludedinconsolidatescope,thustheintangibleassetshave51.07%declinedoverthatofyear-beginning |
| Constructioninprocess | Duringthereportingperiod,70%equityofShenNanDianDongguanCompanyaresoldoutbytheCompany,andatendofperiod,ShenNanDianDongguanCompanyexcludedinconsolidatescope,thustheconstructioninprocesshave8.49%declinedoverthatofyear-beginning |
| Monetaryfund | Duringthereportingperiod,70%equityofShenNanDianDongguanCompanyaresoldoutbytheCompany,receivedequitytransferamountandborrowingrefund,thusthemonetaryfundhas40.31%upoverthatofyear-beginning |
| Inventory | Duringthereportingperiod,70%equityofShenNanDianDongguanCompanyaresoldoutbytheCompany,andatendofperiod,ShenNanDianDongguanCompanyexcludedinconsolidatescope,thustheinventorieshave12.94%declinedoverthatofyear-beginning |
2.Mainoverseasassets
□Applicable√Notapplicable
III.CoreCompetitivenessAnalysis
Inrecentyears,duetotheimpactofthemacroeconomicsituationandthecommonproblemsofgasturbineindustry,theCompany’smainbusinesshasbeenfacingincreasingdifficultiesandchallenges.However,thebasiccorecompetitivenessformedby30yearsofoperationanddevelopment,thestrongsupportofthecompany’smajorshareholders,andtheoperatingandmanagementinnovationofthecompany’snewboardofdirectorsandleadershipteamhavelaidtheessentialfoundationforthecompany’ssustainablesurvivalandforseekingtransformationanddevelopment.(corecompetitivenessanalysisfoundmoreintheAnnualReport2019)
SectionIV.DiscussionandAnalysisoftheOperation
I.IntroductionInthefirsthalfof2020,thesuddenoutbreakofnovelcoronaviruspneumoniabroughtanunprecedentedlyhugeimpactonChinaandtheglobaleconomy.Affectedbythenovelcoronaviruspneumoniaepidemic,thedemandforpowerinthewholesocietyhasshrunksharply.Accordingtostatisticsfromrelevantdepartments,fromJanuarytoJune,theprovince’stotalelectricityconsumptionwas
296.484billionkWh,ayear-on-yeardecreaseof2.07%.Facingthedualtestoftheepidemicandtheindustrysituation,thecompanywithstoodthepressure,forgedaheadagainstthetrend,strictlyimplementedtheoveralldeploymentandrequirementsoftheCentralCommitteeoftheCommunistPartyofChina,theStateCouncil,provincial,municipal,anddistrictgovernmentsandhigher-levelunitstorespondtotheepidemic,andearnestlyimplementedepidemicpreventionandcontrolwork,whileovercomingdifficultiestodoagoodjobinproductionandoperationmanagement,andgoallouttominimizethenegativeimpactoftheepidemiconthecompany.Afterthefullresumptionofworkandproduction,thecompanyintensifieditseffortstotakeseriousmeasurestosafeproduction,stockoperationandtransformationdevelopment.Onthepremiseofensuringsafetyandepidemicpreventionandcontrol,thecompanyhasachievedgoodresultsinproduction,operation,andmanagement.Thefirstwasindustrialcoordinationandstrategiccooperationforcommondevelopment.Thecompanynegotiatedandtransferredthe70%equityofShenNanDianDongguanCompanyithelddirectlyandindirectlytoShenzhenGasandsignedtheResourceStrategicCooperationAgreementtogivefullplaytotheadvantagesofthetwopartiesintermsofresources,technology,marketandfacilitiestoachieveresourcecomplementarity,enhancetheoverallcompetitivenessofbothpartiesintheirrespectivefields,andcreateconditionsforthecompanytoreduceburdens,increaseefficiencyandgenerateincome,andseektransformationanddevelopment.Thesecondwasonefactoryonepolicy,andscientificmarketingcreatedgoodresults.InthefaceofthedifficultproductionsituationthatthedemandforelectricityinthesocietycontinuedtobeinsufficientfromFebruarytoAprilthisyear,ontheonehand,thecompanypaidcloseattentiontoimprovingtheefficiencyandreducingconsumptionofpowergenerationequipment,andontheotherhand,itadoptedmarketingmeasuressuchasmarket-basedcompetitioncalculationmodelsand"onefactoryonepolicy"marketingstrategy,strivedtoseizemarketopportunities,andactivelystrivedformoreeconomicelectricityshare.Atthesametime,throughstrategiccooperationandhealthycompetition,strivedtominimizethecostofnaturalgasprocurement.Thethirdwascapital-driven,rejectedthedrossandassimilatedtheessencetoseektransformation.Guidedbytheannualworkingideasofactivelyexploringadvancedmanufacturing,lifeandhealth,new-generationinformationtechnology,technologyandfinanceandotherhigh-endmanufacturingindustryandinnovativeindustryprojectresourcesandbusinessfields,ontheonehand,relyingontheplatformadvantagesofmajorshareholders,it’splannedtoparticipateintheinvestmentofYuanzhiRuixinNewGenerationInformationTechnologyEquityInvestmentFundasalimitedpartner.Ontheotherhand,extensivelysoughtopportunitiesforhigh-qualityprojectsandexploredeffectivepathsfortransformationanddevelopment.Thefourthwasstabilityandlong-termdevelopment,guaranteedlong-termsecuritytopromotedevelopment.Whiledoingagoodjobinfightingthenovelcoronaviruspneumoniaepidemic,thecompanystrivedtolayasolidfoundationforsafeproduction,establishedandcompletedaseriesofsafetyindexmanagementandproductionguaranteesystems,andfurtherstrengthenedriskclassificationcontrolandhiddendangerinvestigationandtreatment.Asoftheendofthisreportingperiod,thecompanyhasachievedatotalof5,895daysofsafeproduction,creatinganewsituationwiththebestsafetyrecordinthecompany'shistory,theepidemicpreventionandcontrolworkhasalsoachievedphasedresults.
Duringthereportingperiod,theCompanyhasachievedarevenueinoperationof5181.5millionYuan,thenetprofitattributabletoshareholdersofthelistedcompanyamountedas52.04millionYuanandbasicEPSwas0.09Yuan.II.MainbusinessanalysisFoundmoreinI.IntroductioninDiscussionandAnalysisoftheOperationY-o-ychangesofmainfinancialdata
InRMB
| Currentperiod | Sameperiodoflastyear | Y-o-yincrease/decrease | Reasonsforchanges | |
| Operatingrevenue | 518,150,606.21 | 408,124,616.38 | 26.96% | Mainlyduetotheincreaseofrevenuefromgenerating |
| Operatingcosts | 453,109,436.14 | 382,997,137.69 | 18.31% | Mainlyduetotheincreaseofcostfromgenerating |
| Salesexpenses | 2,527,403.66 | 2,566,269.52 | -1.51% | |
| Administrationexpenses | 43,036,872.15 | 44,931,864.50 | -4.22% | |
| Financeexpenses | 5,064,722.20 | 10,639,267.42 | -52.40% | Theinterestrateofloansandloansizehavefallen. |
| Incometaxexpenses | 610,366.52 | 1,157,865.76 | -47.29% | Taxableincomeamountdecreased |
| Netcashflowarisingfromoperatingactivities | 69,936,561.46 | 56,217,376.89 | 24.40% | Theelectricitybillsarehigherthanthegaspayment |
| Netcashflowarisingfrominvestmentactivities | -70,404,614.02 | -20,841,164.69 | 237.82% | Expensesforpurchasingthefinancialproductsincreased |
| Netcashflowarisingfromfinancingactivities | 313,780,839.64 | 79,547,879.58 | 294.46% | Borrowingsincreased |
| Netincreaseofcashandcashequivalent | 313,413,965.85 | 114,927,228.73 | 172.71% | Thenetcashflowarisingfromfinancingactivitiesincreased |
Majorchangesonprofitcompositionorprofitresourcesinreportingperiod
□Applicable√NotapplicableNochangesonprofitcompositionorprofitresourcesinreportingperiodConstitutionofoperatingrevenue
InRMB
| Currentperiod | Sameperiodoflastyear | Y-o-ychanges(+,-) | ||
| Amount | Ratioinoperating | Amount | Ratioinoperating | |
| revenue | revenue | ||||
| Totaloperatingrevenue | 518,150,606.21 | 100% | 408,124,616.38 | 100% | 26.96% |
| Accordingtoindustries | |||||
| Energyindustry | 470,093,812.79 | 90.73% | 347,598,428.46 | 85.17% | 35.24% |
| Engineeringlabor | 16,697,226.83 | 3.22% | 25,197,504.31 | 6.17% | -33.73% |
| Sludgedrying | 29,975,302.78 | 5.79% | 34,487,375.32 | 8.45% | -13.08% |
| Other | 1,384,263.81 | 0.27% | 841,308.29 | 0.21% | 64.54% |
| Accordingtoproducts | |||||
| Powermarketing | 470,093,812.79 | 90.73% | 347,598,428.46 | 85.17% | 35.24% |
| Engineeringlabor | 16,697,226.83 | 3.22% | 25,197,504.31 | 6.17% | -33.73% |
| Sludgedrying | 29,975,302.78 | 5.79% | 34,487,375.32 | 8.45% | -13.08% |
| Other | 1,384,263.81 | 0.27% | 841,308.29 | 0.21% | 64.54% |
| Accordingtoregion | |||||
| Shenzhen | 227,995,512.76 | 44.00% | 231,432,149.90 | 56.71% | -1.48% |
| Zhongshan | 85,765,596.92 | 16.55% | 66,364,051.74 | 16.26% | 29.24% |
| Dongguan | 204,389,496.53 | 39.45% | 110,328,414.74 | 27.03% | 85.26% |
Theindustries,products,orregionsaccountingforover10%oftheCompany’soperatingrevenueoroperatingprofit
√Applicable□Notapplicable
InRMB
| Operatingrevenue | Operatingcosts | Grossprofitratio | Increase/decreaseofoperatingrevenuey-o-y | Increase/decreaseofoperatingcosty-o-y | Increase/decreaseofgrossprofitratioy-o-y | |
| Accordingtoindustries | ||||||
| Energyindustry | 470,093,812.79 | 416,716,914.41 | 11.35% | 35.24% | 21.60% | 9.94% |
| Engineeringlabor | 16,697,226.83 | 13,814,797.57 | 17.26% | -33.73% | -15.41% | -17.93% |
| Sludgedrying | 29,975,302.78 | 22,479,655.36 | 25.01% | -13.08% | -5.85% | -5.75% |
| Accordingtoproducts | ||||||
| Powermarketing | 470,093,812.79 | 416,716,914.41 | 11.35% | 35.24% | 21.60% | 9.94% |
| Engineeringlabor | 16,697,226.83 | 13,814,797.57 | 17.26% | -33.73% | -15.41% | -17.93% |
| Sludgedrying | 29,975,302.78 | 22,479,655.36 | 25.01% | -13.08% | -5.85% | -5.75% |
| Accordingtoregion | ||||||
| Shenzhen | 226,611,248.95 | 200,431,777.94 | 11.55% | -1.73% | -6.27% | 4.28% |
| Zhongshan | 85,765,596.92 | 53,279,999.22 | 37.88% | 29.24% | -9.34% | 26.43% |
| Dongguan | 204,389,496.53 | 199,299,590.18 | 2.49% | 85.26% | 80.68% | 2.47% |
Undercircumstancesofadjustmentinreportingperiodforstatisticscopeofmainbusinessdata,adjustedmainbusinessbasedonlatestoneyear’sscopeofperiod-end
√Applicable□Notapplicable
InRMB
| Operatingrevenue | Operatingcosts | Grossprofitratio | Increase/decreaseofoperatingrevenuey-o-y | Increase/decreaseofoperatingcosty-o-y | Increase/decreaseofgrossprofitratioy-o-y | |
| Accordingtoindustries | ||||||
| Energyindustry | 265,704,316.26 | 217,417,324.23 | 18.17% | 11.92% | -6.44% | 16.06% |
| Engineeringlabor | 16,697,226.83 | 13,814,797.57 | 17.26% | -33.73% | -15.41% | -17.92% |
| Sludgedrying | 29,975,302.78 | 22,479,655.36 | 25.01% | -13.08% | -5.85% | -5.76% |
| Accordingtoproducts | ||||||
| Powermarketing | 265,704,316.26 | 217,417,324.23 | 18.17% | 11.92% | -6.44% | 16.06% |
| Engineeringlabor | 16,697,226.83 | 13,814,797.57 | 17.26% | -33.73% | -15.41% | -17.92% |
| Sludgedrying | 29,975,302.78 | 22,479,655.36 | 25.01% | -13.08% | -5.85% | -5.76% |
| Accordingtoregion | ||||||
| Shenzhen | 226,611,248.95 | 200,431,777.94 | 11.55% | -1.73% | -6.27% | 4.28% |
| Zhongshan | 85,765,596.92 | 53,279,999.22 | 37.88% | 29.24% | -9.34% | 26.43% |
CausesforthestatisticscopechangedThe70%equityofShenNanDianDongguanCompanyaresoldoutinthereportingperiod,andchangefortheindustrialandcommercialhascompletedinApril2020,theShenNanDianDongguanCompanynolongerincludedintheconsolidatescopeatendoftheperiod.Reasonsfory-o-yrelevantdatawithover30%changes
√Applicable□NotapplicableEnergyindustry/Powermarketinghas35.24%upinrevenuefromayearearlier,mainlybecausetherevenuefrogenerating
increased.Revenuefromengineeringlaborhas33.73%declinedonay-o-ybasis,mainlybecausetheoverseasprojectwassuspendedduetotheCOVID-19pneumoniaoutbreak.Otherrevenueas65.54%uponay-o-ybasis,mainlyduetotheincreaseoftechnicalservice.
III.Analysisofthenon-mainbusiness
√Applicable□Notapplicable
InRMB
| Amount | Ratiointotalprofit | Note | Whetherbesustainable(Y/N) | |
| Investmentincome | 33,291,259.12 | 62.98% | Investmentincomefromsoldoutthe70%equityofShenNanDianDongguan | N |
| Company | ||||
| Non-operatingincome | 4,753.84 | 0.01% | N | |
| Non-operatingexpenditure | 11,110.00 | 0.02% | Donation | N |
IV.Assetsandliability
1.Majorchangesofassetscomposition
InRMB
| EndofthePeriod | Endofsameperiodoflastyear | Ratiochanges(+,-) | Notesofmajorchanges |
| Amount | Ratiointotalassets | Amount | Ratiointotalassets | |||
| Monetaryfund | 1,084,903,966.81 | 35.55% | 1,033,453,294.31 | 30.27% | 5.28% | Increaseofthebankloansandreceivepartoftheamountfromequitytransfer |
| Accountreceivable | 132,037,467.25 | 4.33% | 161,302,717.77 | 4.72% | -0.39% |
| Inventory | 108,553,898.22 | 3.56% | 124,479,548.95 | 3.65% | -0.09% | |
| Investmentrealestate | 2,303,258.20 | 0.08% | 2,499,395.80 | 0.07% | 0.01% | |
| Long-termequityinvestment | 14,375,580.60 | 0.47% | 15,371,492.58 | 0.45% | 0.02% | |
| Fixedassets | 954,992,268.00 | 31.30% | 1,410,660,332.99 | 41.32% | -10.02% | Duringthereportingperiod,70%equityofShenNanDianDongguanCompanyaresoldoutbytheCompany,andatendofperiod,ShenNanDianDongguanCompanyexcludedinconsolidatescope |
| Constructioninprocess | 60,831,928.29 | 1.99% | 67,646,496.22 | 1.98% | 0.01% | |
| Short-termloans | 755,480,134.11 | 24.76% | 1,100,000,000.00 | 32.22% | -7.46% | Repaymentofshort-termbankloans |
| Long-termloans | 0.00% | 21,940,000.00 | 0.64% | -0.64% | Repaymentoflong-termbankloans |
2.Assetsandliabilitymeasuredbyfairvalue
□Applicable√Notapplicable
3.AssetsrightsrestrictedtillendoftheperiodV.Investment
1.Overallsituation
□Applicable√Notapplicable
2.Themajorequityinvestmentobtainedinthereportingperiod
□Applicable√Notapplicable
3.Themajornon-equityinvestmentcaringinthereportingperiod
□Applicable√Notapplicable
4.Financialassetsmeasuredbyfairvalue
□Applicable√Notapplicable
5.Financialassetsinvestment
(1)Securitiesinvestment
□Applicable√NotapplicableTheCompanyhadnosecuritiesinvestmentinPeriod.
(2)Derivativeinvestment
□Applicable√NotapplicableTheCompanyhasnoderivativesinvestmentinPeriod.
VI.Salesofmajorassetsandequity
1.Salesofmajorassets
□Applicable√Notapplicable
2.Salesofmajorequity
√Applicable□Notapplicable
| Cou | Asse | Sales | Trading | Net | Impact | Ratio | Pricing | Whe | Relatio | Owne | Debt | Impleme | Disclosu | Disclosureindex |
| nterpart | tssold | day | price(10thousandYuan) | profitcontributedbythesoldassetsfromperiod-begintodateforsales(in10thousandYuan) | ontheCompany | ofthenetprofitfromassetssalesintotalnetprofitoftheCompany | principal | theritwasarelatedtransaction(Y/N) | nshipwiththecounterparty | rshiptransferredcompletelyornot(Y/N) | /liabilitytransfercompletelyornot(Y/N) | ntedonschedule(Y/N),explainedthereasonsandcountermeasurefornotcompletedonschedule | reday | |
| ShenzhenGasGroupCo.,Ltd. | 70%equityofShenNanDianDongguanCompany(40%equityhelddirectlybytheCompany,and30%equityheldthroughwhol | 9April2020(changeofindustrialandcommercialregistrationfortheequitytransfercompletedbyShenNanDianDongguanCompany) | 10,498(priceofequitytransferamountedas87.5millionYuan,17.48millionYuangains/lossesduringthetransitionalperiodfromthebasedateofassetsappraisaltoDecember31,2019)） | -445.29 | ThetransactionisconductivetorevitalizingtheCompany’sstockassets,reducingtheoperatingpressure,increasingcurrentearningsoftheCompanyandpromotingtherealizationofthestrategi | 64.44% | Pricingprincipleintheagreementisthatthenegotiatedtransferpriceofunderlyingassets(70%equityofShenNanDianDongguanCompany)ishigherthantheappraisalvalueoftheunderlyingassetsissuedbyWatson(Beijing)InternationalAssetsAppraisalCo.,Ltd. | N | Notapplicable | Y | Y | Y | 7March2020,24March2020,11April2020,and4July2020 | Noticeincluding:70%EquityofShenNanDian(Dongguan)WeimeiElectricPowerCo.,LtdTransfer,ResolutionoftheFirstExtraordinaryShareholdersGeneralMeetingof2020,ProgressofTransferof70%EquityofShenNanDian(Dongguan)WeimeiElectricPowerCo.,LtdandCompletionofthe70%EquityofShenNanDian(Dongguan)WeimeiElectricPowerCo.,LtdTransferred;NoticeNo.:(2020-006,2020-019,2020-023and2020-032);Releasedon:ChinaSecurities |
| ly-ownedsubsidiarySyndisomeCompanyindirectly) | ctransformationgoals. | Journal,SecuritiesTimes,HongKongCommercialDailyandJuchaoWebsite. |
VII.AnalysisofmainHoldingCompanyandstock-jointlycompanies
√Applicable□NotapplicableParticularaboutmainsubsidiariesandstock-jointlycompaniesnetprofitover10%
InRMB
| Name | Type | Mainbusiness | Registercapital | Totalassets | NetAssets | Operatingrevenue | Operatingprofit | Netprofit |
| ShenzhenNewPowerIndustrialCo.,Ltd. | Subsidiary | Technologydevelopmentregardingtoapplicationofremainingheat(excludingrestricteditems)andpowergenerationwithremainingheat.Add:powergenerationthroughburningmachines. | RMB113.85million | 189,619,543.19 | 150,307,261.85 | 56,347,610.04 | -5,225,752.70 | -5,225,752.70 |
| ShenzhenShenNanDianEnvironmentProtectionCo.,Ltd. | Subsidiary |
| RMB79million | 155,293,267.60 | 128,501,691.99 | 29,999,302.78 | 4,082,731.80 | 3,505,763.71 |
| technicaladvice,technicalservicesofenvironmentalpollutioncontrolandcomprehensiveutilizationdomain;(Exceptfortheprojectsrequiredtobeapprovedbeforeregistrationbylaws,administrativeregulations,ordecisionsandstipulationoftheStateCouncil,therestricteditemsmustbeapprovedbeforeoperating) | ||||||||
| ShenzhenShennandianTurbineEngineeringTechnologyCo.,Ltd. | Subsidiary | Engageinthetechnicaladvisoryservicefortheconstructionprojectsofgas-steamcombinedcyclepowerplant(station),andundertakethemaintenanceandoverhauloftheoperationequipmentofgas-steamcombinedcyclepowerplant(station).Importandexportofgoodsandtechnologies(excludingdistributionandstatemonopolycommodities) | RMB10million | 51,466,814.32 | 36,144,584.81 | 16,697,226.83 | 125,986.28 | 94,489.69 |
| ShenzhenServerPetrochemicalSupplyingCo.,Ltd | Subsidiary | Self-supportingorimportagentbusinessoffueloil;trade(excludingproductionandstorageandtransportation)indiesel,lubricatingoil,liquefiedpetroleumgas,naturalgas,compressedgasandliquefiedgas,chemicalproducts(excludingdangerouschemicals);investment, | RMB53.3million | 121,784,714.52 | 92,397,733.03 | 535,619.08 | -1,340,725.24 | -1,337,873.24 |
| constructionandtechnicalsupportsinliquefiedpetroleumgas,naturalgasandrelatedfacilities;importandexportbusinessesanddomestictradeofgoodsandtechnologies(excludingfranchise,exclusivecontrol,andmonopolyproducts);leasingbusiness.Licensedprojects:fueloilwarehousingbusiness(exceptforrefinedoil);generalfreighttransport,specialtransportationofgoods(containers),specialtransportationofgoods(tank) | ||||||||
| ShenNanDian(Zhongshan)ElectricPowerCo.,Ltd. | Subsidiary | Gasturbinepowergeneration,wasteheatpowergeneration,powersupplyandheating(excludingheatingpipenetwork),leasingofwharfandoildepots(excludingrefinedoil,dangerouschemicals,orflammableandexplosivegoods). | RMB746.8million | 596,024,563.19 | -80,396,382.80 | 85,765,596.92 | 13,952,405.29 | 13,942,405.29 |
| ShenNanEnergy(Singapore)Co.,Ltd. | Subsidiary | Agentforoilstradeandsparepartsofgasturbine | US$0.9million | 139,835,443.67 | 137,146,953.87 | -10,476,573.86 | -10,476,573.86 |
Subsidiarydisposesandacquiredintheperiod
√Applicable□Notapplicable
| Companyname | Wayacquiredanddisposedinreportingperiod | Impactonoverallproduction,operationandperformance |
| ShenNanDian(Dongguan)WeimeiElectricPowerCo.,Ltd | The70%equityofShenNanDianDongguanCompany,directlyorindirectlyholdbytheCompanyaretransferbyagreement. | ThetransactionisconductivetorevitalizingtheCompany’sstockassets,reducingtheoperatingpressureandachievingtheincomefromequitytransfer |
Statementofmainholdingcompanyandstock-jointlycompanies
VIII.StructuredvehiclecontrolledbytheCompany
□Applicable√Notapplicable
IX.PredictionofbusinessperformancefromJanuary–September2020
Estimationonaccumulativenetprofitfromthebeginningoftheyeartotheendofnextreportperiodtobelossprobablyorthewarningofitsmaterialchangecomparedwiththecorrespondingperiodofthelastyearandexplanationonreason
□Applicable√NotapplicableX.Risksandcountermeasures
1.Intermsofmainbusiness,althoughthecompanyhasaccumulatedcertainexperiencethroughvigorouslyfocusingonpowermarketmarketing,duetothehighcostofpowergenerationby9Egasturbines,theon-gridpowerpriceisatahighlevelamongalltypesofpowergenerationunits.Withtheincreasinglyfiercecompetitioninpowertradingmarket,coupledwiththeupcomingimplementationofthepowerspottradingpolicy,thecompany’smainbusinessofgasturbinepowergenerationwillfacegreaterchallenges.Thecompanywillactivelycommunicatewithrelevantprovincialandmunicipaldepartmentstoreflectthedifficultiesoftheenterpriseandseekgovernmentsupport,andwilltryitsutmosttoimprovetheprofitabilityofthemainbusinessandtheoveralloperatingefficiencybystrengtheningthemanagementofexistingassets.Atthesametime,thecompanywillactivelyexplorediversifiedbusinessmodelsandtransformationanddevelopmentopportunitiestocreatebetterconditionsforthecompany'ssustainableoperationandhealthydevelopment.
2.Intermsofsafetyproduction,thepowergenerationequipmentofthecompany'spowerplantsallhavedifferentdegreesofaging,andthehiddentroublesandsafetyrisksareincreasingyearbyyear,whichputforwardhigherrequirementsforequipmentmanagementandmaintenanceinvestment.Inaddition,theagestructureofthecompany’stechnicalpersonnelisagingandtheproblemoftemporaryshortagesisalsobecomingincreasinglyapparent,makingthecompany'ssafetymanagementfacegreaterchallenges.Thecompanywillstrengthentheregularinspectionandmaintenanceofequipment,strengthenthesafetyeducationandtrainingofemployees,intensifytheresponsibilitysystemforsafetyproduction,andstrictlyimplementthesafetymanagementsystem,andenhancethesafetyawarenessandresponsibilityawarenessofpersonnelatalllevelsbycombiningassessmentandrewardsandpunishmentstoensureproductionsafety.
3.Intermsoffuelprocurement,ontheonehand,theuncertaintyoftheactualpowergenerationwillfurtherincreasethepossibledifferencebetweentheplannedpurchaseofnaturalgasandtheactualpurchase,resultingindifficultyintheexecutionofthecontractvolumeorashortageofnaturalgassupplyduetoanexpectedshortage;ontheotherhand,inthefirsthalfoftheyear,naturalgaspriceswereatalowlevelduetofactorssuchastheepidemicanddisputesamongoil-producingcountries,however,withtherecoveryofinternationalcrudeoilprices,naturalgaspriceshaveshownanupwardtrendinthesecondhalfof2020,andthecompanywillfacepressurefromasharpincreaseinfuelcosts.Thecompanywillcontinuetoleverageitsadvantagesinlarge-scaleprocurementandtheadjustmentfunctionofmultiplegassources,whileensuringtomeetthedemandforelectricityproduction,it
willtryitsbesttoreducethecostofnaturalgasprocurement.TheCompanyremindsinvestorstopayattentiontotheabovemajorrisksandotherrisksthattheCompanymayface,andprudentlymakerationalinvestmentdecisions.
SectionV.ImportantEventsI.Inthereportperiod,theCompanyheldannualshareholders’generalmeetingandextraordinaryshareholders’generalmeeting
1.Shareholders’GeneralMeetinginthereportperiod
| Sessionofmeeting | Type | Ratioofinvestorparticipation | Openingdate | Dateofdisclosure | Indexofdisclosure |
| Firstextraordinaryshareholders’generalmeetingin2020 | Extraordinaryshareholders’generalmeeting | 42.09% | 2020-03-23 | 2020-03-24 | “ResolutionNoticeofFirstextraordinaryshareholders’generalmeetingin2020”No.:2020-019,releasedon“ChinaSecuritiesJournal”“SecuritiesTimes”“HongKongCommercialDaily”andJuchaoWebsite |
| AnnualGeneralMeeting(AGM)of2019 | AGM | 38.72% | 2020-04-10 | 2020-04-11 | “ResolutionNoticeofAnnualGeneralMeeting2019”No.:2020-021,releasedon“ChinaSecuritiesJournal”“SecuritiesTimes”“HongKongCommercialDaily”andJuchaoWebsite |
2.Requestforextraordinarygeneralmeetingbypreferredstockholderswhosevotingrightsrestore
□Applicable√Notapplicable
II.ProfitdistributionplanandcapitalizingofcommonreservesplanforthePeriod
□Applicable√NotapplicableTheCompanyhasnoplansofcashdividenddistributed,nobonussharesandhasnoshareconvertedfromcapitalreserveeitherforthesemi-annualyear.
III.Commitmentsthatthecommittedpartyastheactualcontroller,shareholders,relatedparty,buyerandtheCompanyhavefulfilledduringthereportingperiodandhavenotyetfulfilledbytheendofreportingperiod
□Applicable√NotapplicableTherearenocommitmentsthatthecommittedpartyastheactualcontroller,shareholders,relatedparty,buyerandtheCompanyhavefulfilledduringthereportingperiodandhavenotyetfulfilledbytheendofreportingperiod
IV.Appointmentandnon-reappointment(dismissal)ofCPA
Financialreporthasbeenauditedornot
□Yes√NoNotbeenaudited
V.ExplanationfromBoardofDirectors,SupervisoryCommitteefor“QualifiedOpinion”thatissuedbyCPA
□Applicable√Notapplicable
VI.ExplanationfromtheBoardfor“QualifiedOpinion”oflastyear’s
□Applicable√NotapplicableVII.Bankruptcyreorganization
□Applicable√NotapplicableNobankruptcyreorganizationfortheCompanyinPeriod.
VIII.Lawsuits
Materiallawsuitsandarbitration
□Applicable√NotapplicableTherearenomateriallawsuitsorarbitrationintheperiodOtherlawsuits
□Applicable√Notapplicable
IX.Mediaquestioning
□Applicable√NotapplicableDuringthereportingperiod,thecompanyhadnomediagenerallyquestionedmatters.X.Penaltyandrectification
□Applicable√Notapplicable
NopenaltyandrectificationfortheCompanyinPeriod.
XI.IntegrityoftheCompanyanditscontrollingshareholdersandactualcontrollers
□Applicable√NotapplicableXII.ImplementationoftheCompany’sstockincentiveplan,employeestockownershipplanorotheremployeeincentives
□Applicable√NotapplicableTheCompanyhasnoequityincentiveplan,employeestockownershipplansorotheremployeeincentivesinPeriod.
XIII.Majorrelatedtransaction
1.Relatedtransactionwithroutineoperationconcerned
√Applicable□Notapplicable
| Relatedparty | Relationship | Typeofrelatedtransaction | Contentofrelatedtransaction | Pricingprinciple | Relatedtransactionprice | Relatedtransactionamount(in10thousandYuan) | Proportioninsimilartransactions | Tradinglimitapproved(in10thousandYuan) | Whetherovertheapprovedlimitedornot(Y/N) | Clearingformforrelatedtransaction | Availablesimilarmarketprice | Dateofdisclosure | Indexofdisclosure |
| ShenzhenEnergyGasInvestmentHoldingCo.,Ltd.,FuelBranchofShenzhenEnergyGroupCo.,Ltd. | Associatedlegalperson | Purchasefuel | TheCompany,NewPowerCompanyandShenNanDian(Dongguan)CompanyareenteredintotheNaturalGasSalesandPurchas | Inprinciple,thepriceshallnotbehigherthanthemarketpriceofnaturalgaswithreferencetothemarketstandard | Inprinciple,thepriceshallnotbehigherthanthemarketpriceofnaturalgaswithreferencetothemarketstandard | 1,366.01 | 100.00% | 8,867 | No | Byagreement | -- | 2019-06-25 | TheNoticeofOEMforEquityGasPurchaseandRelatedTransaction(NoticeNo.:2019-033)releasedonChinaSecuritiesJournal,SecuritiesTimes,Hong |
| eContractwithSZEnergyGasHoldingrespectively,andenteredinthePurchaseandSaleManagementServiceAgreementofLNGwithFuelBranch | KongCommercialDailyandJuchaoWebsite | ||||||||||
| Total | -- | -- | 1,366.01 | -- | 8,867 | -- | -- | -- | -- | -- | |
| Detailofsalesreturnwithmajoramountinvolved | N/A | ||||||||||
| Reporttheactualimplementationofthedailyrelatedtransactionswhichwereprojectedabouttheirtotalamountbytypesduringthereportingperiod | Notapplicable | ||||||||||
| Reasonsformajordifferencesbetweentradingpriceandmarketreferenceprice | Notapplicable | ||||||||||
2.Relatedtransactionsbyassetsacquisitionandsold
□Applicable√NotapplicableNorelatedtransactionsbyassetsacquisitionandsoldfortheCompanyinPeriod.
3.Mainrelatedtransactionsofmutualinvestmentoutside
□Applicable√NotapplicableNomainrelatedtransactionsofmutualinvestmentoutsidefortheCompanyinPeriod.
4.Contactofrelatedcreditanddebt
√Applicable□NotapplicableWhetherhasnon-operationalcontactofrelatedliabilityanddebtsornot
√Yes□NoClaimreceivablefromrelatedparty:
| Relatedparty | Relationship | Causes | Whetherhasnon-businesscapitaloccupyingornot(Y/N) | Balanceatperiod-begin(10thousandYuan) | Currentnewlyadded(10thousandYuan) | Currentrecovery(10thousandYuan) | Interestrate | Currentinterest(10thousandYuan) | Endingbalance(10thousandYuan) |
| ShenNanDianEnvironmentProtectionCompany | Subsidiary | Routinecurrentaccount | N | 388.98 | 770.12 | 777.90 | 381.2 | ||
| ShenNanDianDongguanCompany | Subsidiary | Routinecurrentaccount | N | 18,234.42 | 271.98 | 18,506.40 | 4.82% | 255.92 | 0.00 |
| ShenNanDianZhongshanCompany | Subsidiary | Routinecurrentaccount | N | 66,759 | 1,556.45 | 3,500.00 | 4.82% | 1,556.45 | 64,815.45 |
| ShenNanDianEngineeringCompany | Subsidiary | Routinecurrentaccount | N | 1,649.49 | 137.45 | 1,366.50 | 4.82% | 18.12 | 420.44 |
| SingaporeCompany | Subsidiary | Routinecurrentaccount | N | 152.19 | 152.19 | ||||
| InfluenceonbusinessperformanceandfinancialstatusoftheCompanyfromrelatedliabilities | NomajorinfluenceonbusinessperformanceandfinancialstatusoftheCompanyfromrelatedliabilities | ||||||||
Debtspayabletorelatedparty:
| Relatedparty | Relationship | Causes | Balanceatperiod-begin(10thousandYuan) | Currentnewlyadded(10thousandYuan) | Currentrecovery(10thousandYuan) | Interestrate | Currentinterest(10thousandYuan) | Endingbalance(10thousandYuan) |
| NewPower | Subsidiary | Disburseme | 8,861.83 | 30,939.4 | 32,088.96 | 7,712.27 |
| Company | ntfee | |||||||
| ServerCompany | Subsidiary | Moneylending | 6,600 | 120.12 | 60.06 | 3.60% | 60.06 | 6,660.06 |
| ShenNanDianEnvironmentProtectionCompany | Subsidiary | Moneylending | 2,522.78 | 550.85 | 3.60% | 50.85 | 3,073.63 | |
| SyndisomeCompany | Subsidiary | Disbursementfee | 386.69 | 5.63 | 392.32 | |||
| InfluenceonbusinessperformanceandfinancialstatusoftheCompanyfromrelateddebts | NomajorinfluenceonbusinessperformanceandfinancialstatusoftheCompanyfromrelateddebts | |||||||
5.Othermajorrelatedtransactions
□Applicable√NotapplicableTherearenoothermajorrelatedtransactionsintheperiod
XIV.Non-businesscapitaloccupyingbycontrollingshareholdersanditsrelatedparties
□Applicable√NotapplicableNonon-businesscapitaloccupiedbycontrollingshareholdersanditsrelatedpartiesinPeriod.
XV.Significantcontractandimplementations
1.Trusteeship,contractandleasing
(1)Trusteeship
√Applicable□NotapplicableNoteoftrusteeshipInlinewiththeGensetAssetTrusteeshipContractofShenzhenNewPowerIndustrialCo.,Ltd.signedwithNewPowerCompany,theCompanywasentrustedtooperateandmanagethepowergenerationmachineunitownedbyitswholly-ownedsubsidiaryNewPowerCompany.ThecustodybusinessservicechargeRMB5.8711millionwasobtainedbytheCompanyinreportingperiod.Gains/lossestotheCompanyfromprojectsthatreachedover10%intotalprofitoftheCompanyinreportingperiod
□Applicable√NotapplicableNogainsorlossestotheCompanyfromprojectsthatreachedover10%intotalprofitoftheCompanyinreportingperiod.
(2)Contract
□Applicable√NotapplicableNocontractfortheCompanyinPeriod.
(3)Leasing
□Applicable√NotapplicableNoleasingfortheCompanyinPeriod.
2.Majorguarantees
□Applicable√NotapplicableNomajorguaranteesfortheCompanyinPeriod.
3.Trustfinancing
√Applicable□Notapplicable
In10thousandYuan
| Type | Capitalsources | Amountoccurred | Outstandingbalance | Overdueamount |
| Bankfinancialproducts | Ownfunds | 5,367.42 | 13,967.42 | 0 |
| Total | 5,367.42 | 13,967.42 | 0 | |
Detailsofthesinglemajoramount,orhigh-risktrustinvestmentwithlowsecurity,poorfluidityandnon-guaranteed
□Applicable√Notapplicable
Entrustfinancialexpectedtobeunabletorecovertheprincipalorimpairmentmightbeoccurred
□Applicable√Notapplicable
4.Othermaterialcontracts
√Applicable□Notapplicable
| ThenameofthecontractingCompany | ThenameofthecontractedCompany | contractobject | Thedateofsignatureofth | Thebookvalueoftheassetsinvolvedinthecontract(in10 | Theassessedvalueoftheassetsinvolvedinthecontract(in | Nameoftheevaluationorganization(ifapplicable) | Thebasedateevaluation(ifapplicable) | Pricingprinciples | Bargainprice(in10thousandyuan) | Whetherconnectedtransaction(Y/N) | Incidencerelation | Theperformancebytheen | Thedateofdisclosure | Index |
| econtract | thousandyuan)(ifapplicable) | 10thousandyuan)(ifapplicable) | doftheterm | |||||||||||
| TheCompany,NewPowerCo., | ShenzhenGasGroupCo.,Ltd. | Pipelinegas | 2018-05-14 | N/A | Itwasaframeworkagreement,thepriceofNGwillmakebythetwopartiesaccordingtothesupplementaryagreement | Itwasaframeworkagreement,thepriceofNGwillmakebythetwopartiesaccordingtothesupplementaryagreement | N | Notapplicable | Inprogress | Failtoreleaseforspecialdisclosureconditionun-qualified | ||||
| TheCompany,SyndisomeCompany | ShenzhenGasGroupCo.,Ltd. | 70%equityofShenNanDianDongguanCompany(40%equityhelddirectlybytheCompany,and | 2020-3-11 | 5,841.18 | 8,329.92 | Watson(Beijing)InternationalAssetsAppraisalCo.,Ltd. | 2019-6-30 | Pricingprincipleintheagreementisthatthenegotiatedtransferpriceofunderlyingassets(70%equityofShenNanDianDongguanCompany)ishigherthantheappraisalvalueof | 10,498(priceofequitytransferamountedas87.5millionYuan,17.48millionYuangains/lossesduringthetransitionalperiodfromthe | N | Notapplicable | CompletedonJuly2,2020 | 7March2020,24March2020,11April2020,and4July202 | Noticeincluding:70%EquityofShenNanDian(Dongguan)WeimeiElectricPowerCo.,LtdTransfer,ResolutionoftheFirstExtraordinaryShareholdersGeneralMeetingof2020,ProgressofTransferof70%EquityofShenNanDian(Dongguan)WeimeiElectricPowerCo.,LtdandCompletion |
| 30%equityheldthroughwholly-ownedsubsidiarySyndisomeCompanyindirectly) | theunderlyingassetsissuedbyWatson(Beijing)InternationalAssetsAppraisalCo.,Ltd. | basedateofassetsappraisaltoDecember31,2019) | 0 | ofthe70%EquityofShenNanDian(Dongguan)WeimeiElectricPowerCo.,LtdTransferred;NoticeNo.:(2020-006,2020-019,2020-023and2020-032);Releasedon:ChinaSecuritiesJournal,SecuritiesTimes,HongKongCommercialDailyandJuchaoWebsite. |
XVI.Socialresponsibility
1.Majorenvironmentalprotection
ThelistedCompanyanditssubsidiarywhetherbelongtothekeysewageunitsreleasedfromenvironmentalprotectiondepartmentYes
| Enterpriseorsubsidiary | Mainpollutantandfeatures | Wayofdischarge | Numberofdischargeoutlet | Distributionofthedischargeoutlet | Emissionconcentration | Pollutantdischargestandardimplemented | Totaldischarge | Totalapprovedemissions | Excessiveemission |
| ShenzhenNanshanPowerCo.,Ltd. | Oxynitride | Concentrateemissionfromboileruptake | 2 | InplantareaofNanshanThermalPlant | <15mg/m3 | Implementationof“ShenzhenBlue”emissionstandard<15mg/m3 | 19.04ton | 457.5ton | 0 |
| ShenzhenNewPowerIndustrialCo.,Ltd. | Oxynitride | Concentrateemissionfromboileruptake | 1 | InplantareaofNanshanThermalPlant | <15mg/m3 | Implementationof“ShenzhenBlue” | 3.24ton | 228.75ton | 0 |
| emissionstandard<15mg/m3 | |||||||||
| ShenNanDian(Zhongshan)ElectricPowerCo.,Ltd. | Oxynitride | Concentrateemissionfromboileruptake | 2 | InplantareaofNanshanThermalPlant | <25mg/m3 | EmissionstandardsforairpollutantsfromthermalpowerplantsGB13223-2011 | 4.97ton | 324.50ton | 0 |
ConstructionandoperationofthepollutioncontrollinginstrumentsAllpollutionpreventionandcontrolfacilitiesareoperatingnormally,andallpollutantdischargesarestableanduptostandard.Environmentalimpactassessmentofconstructionprojectsandotherenvironmentalprotectionadministrativelicenses:
AlltheabovethreelegalentitieshavepassedtheenvironmentalimpactassessmentandhavebeenfiledinGuangdongEnvironmentalProtectionDepartment.Emergencyplanforsuddenenvironmentalincidents:
TheemergencyplanforsuddenenvironmentalincidentshasbeenfiledinGuangdongEnvironmentalProtectionDepartmentandthecorrespondingMunicipalEnvironmentalProtectionBureau.Environmentalself-monitoringprogram:
Theenvironmentalself-monitoringprogramhasbeenpreparedandreviewedbytheenvironmentalprotectiondepartment;theinformationonthemonitoringdataisdisclosedonthewebsiteoftheenvironmentalprotectiondepartmentontime.Otherenvironmentalinformationthatshouldbedisclosed:
NilRelevantotherinformationNil
2.FulfilltheprecisesocialresponsibilityforpovertyalleviationDuringthereportingperiod,thecompanyhasnotyetcarriedouttargetedpovertyalleviation.
XVII.Othermajorevents
√Applicable□Notapplicable
1.Mattersrelatedtotheagreementtotransfer70%ofthesharesofShenNanDianDongguanCompany.OnMarch5andMarch23,2020,theEleventhExtraordinaryMeetingoftheCompany’sEighthBoardofDirectorsandthe2020FirstExtraordinaryGeneralMeetingofShareholdersrespectivelyreviewedandapprovedtheProposalontheAgreementtoTransfer70%EquityofShenNanDian(Dongguan)WeimeiElectricPowerCo.,Ltd.",agreeingtotransfer70%equityofShenNanDianDongguanCompanydirectlyandindirectlyheldbythecompanytoShenzhenGasatatotalpriceof104.98millionyuan(includingtheequityagreementpriceof
87.5millionyuanandthetransitionperiodgainsandlossesof17.48millionyuan).Accordingtotheequitytransferagreement
signedbetweenthecompanyandShenzhenGas,afterthecompanyreceived40%ofequitytransferfund,i.e.59.99millionyuan,ofShenNanDianDongguanCompanyfromShenzhenGas,ShenNanDianDongguanCompanyhascompletedtheindustrialandcommercialchangeregistrationonApril9,2020.Sincethen,thetotalloanof300millionyuanappliedbyShenNanDianDongguanCompanyfromNingboBankShenzhenBranchandIndustrialBankShenzhenBranchhasbeenrepaid,andthejointguaranteeandliabilityguaranteeprovidedbythecompanyfortheaboveloanofShenNanDianDongguanCompanyhasbeenlifted;ShenNanDianDongguanCompanyhasfullyrepaidtheprincipalandinterestofthecompany's180millionyuanoffinancialassistance.OnJuly2,2020,thecompany'swholly-ownedsubsidiaryHongKongSyndisomeCo.,Ltd.receivedtheremaining30%equitytransferpaymentofRMB44.99millionfromShenzhenGas.Sofar,thecompanyhasreceivedalltheequitytransferpaymentspaidbyShenzhenGas,andthetransferof70%equityofShenNanDianDongguanCompanywascompleted.(FoundmoreintheNoticereleasedonChinaSecuritiesJournal,SecuritiesTimes,HongKongCommercialDailyandJuchaoWebsite,including70%EquityofShenNanDian(Dongguan)WeimeiElectricPowerCo.,LtdTransfer,ResolutionoftheFirstExtraordinaryShareholdersGeneralMeetingof2020,ProgressofTransferof70%EquityofShenNanDian(Dongguan)WeimeiElectricPowerCo.,LtdandCompletionofthe70%EquityofShenNanDian(Dongguan)WeimeiElectricPowerCo.,LtdTransferred(NoticeNo.:2020-006,2020-019,2020-023and2020-032))
2.Mattersconcerningthecompany’sinvestmentinYuanzhiRuixinNewGenerationInformationTechnologyEquityInvestmentFund.OnMarch5,2020andMarch23,2020,theEleventhExtraordinaryMeetingoftheCompany’sEighthBoardofDirectors,andthe2020FirstExtraordinaryGeneralMeetingofShareholdersrespectivelyreviewedandapprovedtheProposalonInvestinginYuanzhiRuixinNewGenerationInformationTechnologyEquityInvestmentFundandRelatedTransactions,agreedthatthecompanywouldinvest200millionyuanwithitsownfundsinYuanzhiRuixinNewGenerationInformationTechnologyEquityInvestmentFund.InviewofthefactthatShenzhenCapitalHoldingsCo.,Ltd,oneofthelimitedpartnersofthefund,andShenzhenYuanzhiRuixinEquityInvestmentManagementCo.,Ltd.,thegeneralpartnerofthefund,areallrelatedlegalpersonsofthecompany,thecompanyfulfillsrelevantapprovalproceduresandinformationdisclosureobligationsinaccordancewithrelevantregulationsofrelatedtransactions.Asoftheendofthereportingperiod,therelatedworkisinprogress.ThecompanyandrelatedpartieshaveneithersignedthePartnershipAgreementforYuanzhiRuixinNewGenerationInformationTechnologyEquityInvestmentFundnorinvestedfunds.Thecompanywillfollowtheprogressofthematterandfulfillinformationdisclosureobligationsinaccordancewiththelawandregulations.(FoundmoreintheNoticereleasedonChinaSecuritiesJournal,SecuritiesTimes,HongKongCommercialDailyandJuchaoWebsite,includingNoticeonInvestinginYuanzhiRuixinNewGenerationInformationTechnologyEquityInvestmentFundandRelatedTransactionsandResolutionoftheFirstExtraordinaryShareholdersGeneralMeetingof202(NoticeNo.:2020-007and2020-019))
3.T102-0011,T102-0155Landrelatedmatters
(1)OnApril2,2020,thecompanyreceivedtheNoticeofShenzhenQianhaiAuthorityRegardingResumptionofLandUseRightsofT102-0011ParcelfromShenzhenQianhaiAuthority.Thecompanyfulfilleditsinformationdisclosureobligationsinatimelymanner,andimmediatelyworkedwithspeciallegaladvisorstostudytheShenzhenQianhaiAuthority’splantotakebackthelanduserightsoftheT102-0011parcelanditscountermeasures.Atthesametime,itorganizedShenNanDianEnvironmentProtectionCompany,thecompany’swholly-ownedsubsidiary,andNanshanPowerFactory,asubsidiaryofthecompany,carefullyassessedtheimpactofthismatterontheirnormalproductionandoperation.OnApril24,thecompanydeliveredthe"ReplytotheNoticeofShenzhenQianhaiAuthorityRegardingtheResumptionofLandUseRightsofT102-0011Parcel"(SNDHZ[2020]No.4),whichanalyzedandcalculatedtheimpactofShenzhenQianhaiAuthority'splantorecoverthelanduserightsof2531squaremeterswithinT102-0011parcelonShenNanDianEnvironmentProtectionCompanyandNanshanPowerFactory,andmadeacompensationrequestfortheresumptionoflanduserights.(Fordetails,pleaserefertothecompany’sAnnouncementAboutReceiptoftheNoticeofShenzhenQianhaiAuthorityRegardingResumptionofLandUseRightsofT102-0011Parcel,theAnnouncementAboutReplytotheNoticeofShenzhenQianhaiAuthorityRegardingtheResumptionofLandUseRightsofT102-0011ParceldisclosedonChina
SecuritiesJournal,SecuritiesTimes,HongKongCommercialDailyandcninfo,AnnouncementNo.:2020-020,2020-029).
(2)OnApril10,2020,thecompanyreceivedtheLetterofNoticeRegardingtheSelectionoftheSurveying,MappingandEvaluationAgencyfortheLandPreparationProject(LegalBuildingsandStructures)oftheRapidReconstructionProjectofYueliangwanAvenuefromShenzhenQianhaiDevelopmentInvestmentHoldingCo.,Ltd.Thecompanyfulfilleditsobligationofinformationdisclosureinatimelymanner(fordetails,pleaserefertothecompany’sAnnouncementAboutReceiptofLetterofNoticeRegardingtheSelectionoftheSurveying,MappingandEvaluationAgencyfortheLandPreparationProject(LegalBuildingsandStructures)oftheRapidReconstructionProjectofYueliangwanAvenuefromShenzhenQianhaiDevelopmentInvestmentHoldingCo.,Ltd.disclosedonChinaSecuritiesJournal,SecuritiesTimes,HongKongCommercialDailyandcninfo,AnnouncementNo.:2020-024).
(3)OnJune19,2020,ShenzhenQianhaiAuthorityissuedtheAnnouncementofShenzhenQianhaiAuthorityonthePublicPresentationoftheDevelopmentUnitPlanningRevision(Draft)ofQianhaiAreaonitsofficialwebsite(hereinafterreferredtoas"theAnnouncement"),andpubliclypresentedthedevelopmentunitplanningrevision(draft)forthethreeareasofQianhai(Guiwan,QianwanandMawan).Thecompanyfulfilleditsobligationofinformationdisclosureinatimelymanner,andsubmittedtheOpinionsofShenzhenNanshanPowerCo.,Ltd.ontheDevelopmentUnitPlanningRevision(Draft)ofQianhaiAreatotheShenzhenQianhaiAuthority,putforwardrelevantissuesconcerningplanningcontentofthecompany'sNanshanPowerFactory(DevelopmentUnit13)intheAnnouncement,andraisedanobjectiontotheplanningforDevelopmentUnit13,hopingthatShenzhenQianhaiAuthoritywillfullyconsiderthecontributionsthecompanymadetoShenzhenandQianhaiareaformorethan30years,basedontheprincipleof“respectforhistory,cooperationandwin-win”,takingthesuccessfullandpreparationmodelandmatureexperienceofQianhaiforexample,andproperlysolvetherelatedissuesofthecompany’sNanshanPowerFactory(DevelopmentUnit13),sothatthelegitimaterightsandinterestsoflistedcompaniesandtheirshareholdersshallbeeffectivelyprotected(FoundmoreintheNoticereleasedonChinaSecuritiesJournal,SecuritiesTimes,HongKongCommercialDailyandJuchaoWebsite,includingtheNoticeonShenzhenQianhaiAuthorityissuedtheAnnouncementofShenzhenQianhaiAuthorityonthePublicPresentationoftheDevelopmentUnitPlanningRevision(Draft)andDevelopmentUnitPlanningRevision(Draft)ofQianhaiAreatotheShenzhenQianhaiAuthority(NoticeNo.:2020-031and2020-034))ThecompanywillcontinuetofollowuptheprogressofmattersrelatedtothelandwhereNanshanPowerFactoryislocated,maintainclosecommunicationwithrelevantfunctionaldepartmentsinShenzhenandShenzhenQianhaiAuthority,anddoitsbesttoprotectthelegitimaterightsandinterestsofthelistedcompanyandallshareholders.Exceptfortheabovematters,thecollectionofrefundablemoneyofthe"GuangdongXinjiangAidProject"andthe"ProjectTechnicalReformBenefitFund"thatthecompanyparticipatedinin2013hadnoprogressorchangeduringthereportingperiod.XVIII.Majoreventofthesubsidiaries
□Applicable√Notapplicable
SectionVI.ChangesinSharesandParticularsaboutShareholders
I.ChangesinShareCapital
1.ChangesinShareCapital
InShare
| BeforetheChange | Increase/DecreaseintheChange(+,-) | AftertheChange | |||||||
| Amount | Proportion | Newsharesissued | Bonusshares | Capitalizationofpublicreserve | Others | Subtotal | Amount | Proportion | |
| I.Restrictedshares | 14,139 | 0.0023% | 14,139 | 0.0023% | |||||
| 1.State-ownedshares | |||||||||
| 2.State-ownedlegalperson’sshares | |||||||||
| 3.Otherdomesticshares | 14,139 | 0.0023% | 14,139 | 0.0023% | |||||
| Including:Domesticlegalperson’sshares | |||||||||
| Domesticnaturalperson’sshares | 14,139 | 0.0023% | 14,139 | 0.0023% | |||||
| 4.Foreignshares | |||||||||
| Including:Foreignlegalperson’sshares | |||||||||
| Foreignnaturalperson’sshares | |||||||||
| II.Unrestrictedshares | 602,748,457 | 99.9977% | 602,748,457 | 99.9977% | |||||
| 1.RMBordinaryshares | 338,894,011 | 56.2235% | 338,894,011 | 56.2235% | |||||
| 2.Domesticallylistedforeignshares | 263,854,446 | 43.7742% | 263,854,446 | 43.7742% | |||||
| 3.Overseaslistedforeignshares | |||||||||
| 4.Others | |||||||||
| III.Totalshares | 602,762,596 | 100.00% | 602,762,596 | 100.00% | |||||
Reasonsforsharechanged
□Applicable√NotapplicableApprovalofsharechanged
□Applicable√NotapplicableOwnershiptransferofsharechanges
□Applicable√NotapplicableImplementationprogressofsharesbuy-back
□Applicable√NotapplicableImplementationprogressofthereductionofrepurchasessharesbycentralizedbidding
□Applicable√NotapplicableInfluenceonthebasicEPSanddilutedEPSaswellasotherfinancialindexesofnetassetspershareattributabletocommonshareholdersofCompanyinlatestyearandperiod
□Applicable√NotapplicableOtherinformationnecessarytodiscloseorneedtodisclosedunderrequirementfromsecurityregulators
□Applicable√Notapplicable
2.Changesofrestrictedshares
□Applicable√Notapplicable
II.Securitiesissuanceandlisting
□Applicable√Notapplicable
III.Numberofsharesandsharesheld
InShare
| Totalcommonshareholdersatperiod-end | 23,874 | Totalpreferenceshareholderswithvotingrightsrecoveredatendofreportingperiod(ifapplicable)(seenote8) | 0 | ||||||||
| Particularsaboutcommonsharesheldabove5%byshareholdersortoptencommonshareholders | |||||||||||
| Shareholders | Natureofshareholder | Proportionofsharesheld | Numberofcommonsharesheldatperiod-end | Changesinreportingperiod | Amountofrestrictedcommonsharesheld | Amountofun-restrictedcommonsharesheld | Numberofsharepledged/frozen | ||||
| Stateofshare | Amount | ||||||||||
| HONGKONGNAMHOI | Overseascorporate | 15.28% | 92,123,248 | 92,123,248 | |||||||
| (INTERNATIONAL)LTD | ||||||||
| ShenzhenGuangjuIndustrialCo.,Ltd. | State-ownedcorporate | 12.22% | 73,666,824 | 73,666,824 | ||||
| ShenzhenEnergyGroupCo.,Ltd. | State-ownedcorporate | 10.80% | 65,106,130 | 65,106,130 | ||||
| Gaohua－HSBC－GOLDMAN,SACHS&CO.LLC | Overseascorporate | 2.13% | 12,839,723 | 12,839,723 | ||||
| BOCISECURITIESLIMITED | Overseascorporate | 1.72% | 10,389,282 | 10,389,282 | ||||
| LiuFang | Domesticnatureperson | 1.70% | 10,237,134 | 10,237,134 | ||||
| ChinaMerchantsSecurities(HK)Co.,Limited | State-ownedcorporate | 1.32% | 7,955,128 | 7,955,128 | ||||
| ZengYing | Domesticnatureperson | 1.25% | 7,559,600 | 7,559,600 | ||||
| MeiyiInvestmentPropertyCo.,Ltd. | Domesticnon-state-ownedcorporate | 0.87% | 5,216,700 | 5,216,700 | ||||
| LISHERYNZHANMING | Overseasnatureperson | 0.84% | 5,067,200 | 5,067,200 | ||||
| Explanationonassociatedrelationshipamongtheaforesaidshareholders | 1.ShenzhenEnergyGroupCo.,Ltd.holdsindirectly100%equitiesofHongKongNamHoi(International)Limited;2.Amongothersocialpublicshareholders,theCompanydidnotknowwhethertherewereassociatedrelationshipsorbelongingtoconsistentactors. | |||||||
| Particularabouttoptencommonshareholderswithun-restrictsharesheld | ||||||||
| Shareholders | Amountofun-restrictcommonsharesheldatperiod-end | Typeofshares | ||||||
| Type | Amount | |||||||
| HONGKONGNAMHOI(INTERNATIONAL)LTD | 92,123,248 | Domesticallylistedforeignshares | 92,123,248 | |||||
| ShenzhenGuangjuIndustrialCo.,Ltd. | 73,666,824 | RMBordinaryshares | 73,666,824 | |||||
| ShenzhenEnergyGroupCo.,Ltd. | 65,106,130 | RMBordinaryshares | 65,106,130 | |||||
| Gaohua－HSBC－GOLDMAN,SACHS&CO.LLC | 12,839,723 | RMBordinaryshares | 12,839,723 |
| BOCISECURITIESLIMITED | 10,389,282 | Domesticallylistedforeignshares | 10,389,282 |
| LiuFang | 10,237,134 | RMBordinaryshares | 7,176,334 |
| Domesticallylistedforeignshares | 3,060,800 | ||
| ChinaMerchantsSecurities(HK)Co.,Limited | 7,955,128 | Domesticallylistedforeignshares | 7,955,128 |
| ZengYing | 7,559,600 | Domesticallylistedforeignshares | 7,599,600 |
| MeiyiInvestmentPropertyCo.,Ltd. | 5,216,700 | RMBordinaryshares | 5,216,700 |
| LISHERYNZHANMING | 5,067,200 | Domesticallylistedforeignshares | 5,067,200 |
| Expiationonassociatedrelationshiporconsistentactorswithinthetop10un-restrictshareholdersandbetweentop10un-restrictshareholdersandtop10shareholders | 1.100%equityofHONGKONGNAMHOI(INTERNATIONAL)LIMITEDwasheldbyShenzhenEnergyGroupCo.,Ltd.2.Amongothersocialpublicshareholders,theCompanydidnotknowwhethertherewereassociatedrelationshipsorbelongingtoconsistentactors. | ||
| Explanationontop10shareholdersinvolvingmarginbusiness(ifapplicable)(seenote4) | Amongthetoptenshareholders,Ms.LiuFangholds4,031,688sharesthroughcredittransactionguaranteesecuritiesaccount | ||
Whethertoptencommonstockshareholdersortoptencommonstockshareholderswithun-restrictsharesheldhaveabuy-backagreementdealinginreportingperiod
□Yes√NoThetoptencommonstockshareholdersortoptencommonstockshareholderswithun-restrictsharesheldoftheCompanyhavenobuy-backagreementdealinginreportingperiod.IV.Changesofcontrollingshareholdersoractualcontroller
Changeofcontrollingshareholdersinreportingperiod
□Applicable√NotapplicableNochangesofcontrollingshareholderfortheCompanyinreportingperiod
Changeofactualcontrollerintheperiod
□Applicable√NotapplicableActualcontrolleroftheCompanyhasnochangesinthereportingperiod.
SectionVII.PreferredStock
□Applicable√NotapplicableTheCompanyhadnopreferredstockinthereportingperiod.
SectionVIII.ConvertibleBonds
□Applicable√NotapplicableTheCompanyhadnoconvertiblebondsinthePeriod.
SectionIX.ParticularsaboutDirectors,SupervisorsandSenior
OfficersI.Changesofsharesheldbydirectors,supervisorsandseniorofficers
□Applicable√NotapplicableSharesheldbydirectors,supervisorsandseniorofficershavenochangesinreportingperiod,foundmoredetailsinAnnualReport2019.II.Resignationanddismissalofdirectors,supervisorsandseniorofficers
□Applicable√NotapplicableThedirectors,supervisorsandseniorofficersofthecompanydidnotchangeduringthereportingperiod,foundmoredetailsinAnnualReport2019.
SectionX.Corporate-bond
WhethertheCompanyhasacorporationbondsthatissuancepubliclyandlistedonstockexchangeandwithoutdueonthedatewhenannualreportapprovedforreleasedorfailtocashinfullondueNo
SectionXI.FinancialReport
Financialstatementsandnotesareattached.
SectionXII.DocumentsAvailableforReference
I.Originalsemi-annualReportof2020carriedwiththepersonnelsignatureofLegalRepresentative;II.AccountingStatementscarriedwiththesignatureandsealsofthepersoninchargeoftheCompany(LegalRepresentative),personinchargeofaccounting(GeneralManagerandCFO)andpersoninchargeofaccountingdepartment(chiefaccountants).III.AlltheoriginalCompany’sdocumentsandpublicnoticesdisclosedinSecuritiesTimes,ChinaSecuritiesJournalandHongKongCommercialDailyinthereportperiod.IV.Placeforinspection:ShenzhenStockExchange,SecretariatoftheBoardofDirectoroftheCompany.
FinancialReport
I.AuditingreportWhetherthesemi-annualreporthavebeenauditedornot
□Yes√NoThefinancialreportofthesemi-annualreporthasnotbeenaudited.
II.FinancialStatementStatementinFinancialNotesarecarriedinRMB/CNY
1.Consolidatedbalancesheet
ShenzhenNanshanPowerCo.,Ltd.
2020-06-30
InRMB
| Item | 2020-6-30 | 2019-12-31 |
| Currentassets: | ||
| Monetaryfunds | 1,084,903,966.81 | 773,209,854.84 |
| Settlementprovisions | ||
| Capitallent | ||
| Tradablefinancialassets | ||
| Derivativefinancialassets | ||
| Notereceivable | 2,900,000.00 | |
| Accountreceivable | 132,037,467.25 | 178,150,580.32 |
| Receivablefinancing | ||
| Accountspaidinadvance | 32,848,698.89 | 70,005,681.50 |
| Insurancereceivable | ||
| Reinsurancereceivables | ||
| Contractreserveofreinsurancereceivable | ||
| Otheraccountreceivable | 80,837,116.58 | 32,321,826.94 |
| Including:Interestreceivable | ||
| Dividendreceivable | ||
| Buyingbackthesaleoffinancialassets | ||
| Inventories | 108,553,898.22 | 124,686,443.61 |
| Contractualassets | ||
| Assetsheldforsale | ||
| Non-currentassetduewithinoneyear | ||
| Othercurrentassets | 491,760,334.29 | 445,236,731.33 |
| Totalcurrentassets | 1,933,841,482.04 | 1,623,611,118.54 |
| Non-currentassets: | ||
| Loansandpaymentsonbehalf | ||
| Debtinvestment | ||
| Otherdebtinvestment |
| Long-termaccountreceivable | ||
| Long-termequityinvestment | 14,375,580.60 | 14,619,203.03 |
| Investmentinotherequityinstrument | 60,615,000.00 | 60,615,000.00 |
| Othernon-currentfinancialassets | ||
| Investmentrealestate | 2,303,258.20 | 2,401,327.00 |
| Fixedassets | 954,992,268.00 | 1,381,675,872.68 |
| Constructioninprogress | 60,831,928.29 | 66,474,630.23 |
| Productivebiologicalasset | ||
| Oilandgasasset | ||
| Right-of-useassets | ||
| Intangibleassets | 21,334,118.82 | 43,602,166.44 |
| ExpenseonResearchandDevelopment | ||
| Goodwill | ||
| Long-termexpensestobeapportioned | 1,048,199.78 | 1,174,171.16 |
| Deferredincometaxasset | 2,206,049.69 | 2,206,049.69 |
| Othernon-currentasset | 22,882,181.78 | |
| Totalnon-currentasset | 1,117,706,403.38 | 1,595,650,602.01 |
| Totalassets | 3,051,547,885.42 | 3,219,261,720.55 |
| Currentliabilities: | ||
| Short-termloans | 755,480,134.11 | 881,075,378.48 |
| Loanfromcentralbank | ||
| Capitalborrowed | ||
| Tradingfinancialliability | ||
| Derivativefinancialliability | ||
| Notepayable | ||
| Accountpayable | 13,361,192.95 | 19,871,102.41 |
| Accountsreceivedinadvance | ||
| Contractualliability | ||
| Sellingfinancialassetofrepurchase | ||
| Absorbingdepositandinterbankdeposit | ||
| Securitytradingofagency | ||
| Securitysalesofagency | ||
| Wagepayable | 41,045,198.56 | 55,208,432.53 |
| Taxespayable | 11,824,882.40 | 21,769,273.77 |
| Otheraccountpayable | 34,163,258.96 | 43,691,472.06 |
| Including:Interestpayable | ||
| Dividendpayable | ||
| Commissionchargeandcommissionpayable | ||
| Reinsurancepayable | ||
| Liabilityheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | ||
| Othercurrentliabilities |
| Totalcurrentliabilities | 855,874,666.98 | 1,021,615,659.25 |
| Non-currentliabilities: | ||
| Insurancecontractreserve | ||
| Long-termloans | ||
| Bondspayable | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Leaseliability | ||
| Long-termaccountpayable | ||
| Long-termwagespayable | ||
| Accrualliability | 26,646,056.28 | 26,646,056.28 |
| Deferredincome | 96,957,757.04 | 108,507,683.52 |
| Deferredincometaxliabilities | ||
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 123,603,813.32 | 135,153,739.80 |
| Totalliabilities | 979,478,480.30 | 1,156,769,399.05 |
| Owner’sequity: | ||
| Sharecapital | 602,762,596.00 | 602,762,596.00 |
| Otherequityinstrument | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Capitalpublicreserve | 362,770,922.10 | 362,770,922.10 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | -2,500,000.00 | -2,500,000.00 |
| Reasonablereserve | ||
| Surpluspublicreserve | 332,908,397.60 | 332,908,397.60 |
| Provisionofgeneralrisk | ||
| Retainedprofit | 746,816,139.04 | 706,830,892.54 |
| Totalowner’sequityattributabletoparentcompany | 2,042,758,054.74 | 2,002,772,808.24 |
| Minorityinterests | 29,311,350.38 | 59,719,513.26 |
| Totalowner’sequity | 2,072,069,405.12 | 2,062,492,321.50 |
| Totalliabilitiesandowner’sequity | 3,051,547,885.42 | 3,219,261,720.55 |
LegalRepresentative:LiXinweiGeneralManager:ChenYuhuiCFO:DaiXijiPersoninchargeoffinancialdept.:WangYiTabulator:LiuYan
2.BalanceSheetofParentCompany
InRMB
| Item | 2020-6-30 | 2019-12-31 |
| Currentassets: | ||
| Monetaryfunds | 1,012,488,905.86 | 632,948,706.11 |
| Tradingfinancialassets | ||
| Derivativefinancialassets | ||
| Notereceivable | ||
| Accountreceivable | 61,629,518.43 | 31,824,693.69 |
| Receivablefinancing | ||
| Accountspaidinadvance | 27,966,084.58 | 46,152,700.57 |
| Otheraccountreceivable | 660,835,522.34 | 873,861,071.55 |
| Including:Interestreceivable | ||
| Dividendreceivable | ||
| Inventories | 97,843,620.07 | 101,728,367.43 |
| Contractualassets | ||
| Assetsheldforsale | ||
| Non-currentassetsmaturingwithinoneyear | ||
| Othercurrentassets | 485,147,244.31 | 438,613,774.49 |
| Totalcurrentassets | 2,345,910,895.59 | 2,125,129,313.84 |
| Non-currentassets: | ||
| Debtinvestment | ||
| Otherdebtinvestment | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 228,918,765.00 | 303,341,165.00 |
| Investmentinotherequityinstrument | 60,615,000.00 | 60,615,000.00 |
| Othernon-currentfinancialassets | ||
| Investmentrealestate | ||
| Fixedassets | 315,117,782.13 | 321,395,526.04 |
| Constructioninprogress | 2,355,233.61 | 1,949,450.23 |
| Productivebiologicalassets | ||
| Oilandnaturalgasassets | ||
| Right-of-useassets | ||
| Intangibleassets | 229,435.21 | 404,104.06 |
| Researchanddevelopmentcosts | ||
| Goodwill | ||
| Long-termdeferredexpenses | 709,967.63 | 790,841.39 |
| Deferredincometaxassets | ||
| Othernon-currentassets | ||
| Totalnon-currentassets | 607,946,183.58 | 688,496,086.72 |
| Totalassets | 2,953,857,079.17 | 2,813,625,400.56 |
| Currentliabilities | ||
| Short-termborrowings | 755,480,134.11 | 580,640,114.59 |
| Tradingfinancialliability | ||
| Derivativefinancialliability | ||
| Notespayable | ||
| Accountpayable | 1,756,794.04 | 864,016.74 |
| Accountsreceivedinadvance | ||
| Contractualliability | ||
| Wagepayable | 26,769,914.84 | 33,840,544.53 |
| Taxespayable | 1,279,402.89 | 718,630.17 |
| Otheraccountspayable | 193,871,721.75 | 203,332,331.14 |
| Including:Interestpayable | ||
| Dividendpayable | ||
| Liabilityheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | ||
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 979,157,967.63 | 819,395,637.17 |
| Non-currentliabilities: | ||
| Long-termloans | ||
| Bondspayable | ||
| Including:preferredstock | ||
| Perpetualcapitalsecurities | ||
| Leaseliability | ||
| Long-termaccountpayable | ||
| Longtermemployeecompensationpayable | ||
| Accruedliabilities | ||
| Deferredincome | 56,533,398.56 | 58,261,356.20 |
| Deferredincometaxliabilities | ||
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 56,533,398.56 | 58,261,356.20 |
| Totalliabilities | 1,035,691,366.19 | 877,656,993.37 |
| Owners’equity: | ||
| Sharecapital | 602,762,596.00 | 602,762,596.00 |
| Otherequityinstrument | ||
| Including:preferredstock | ||
| Perpetualcapitalsecurities | ||
| Capitalpublicreserve | 289,963,039.70 | 289,963,039.70 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | ||
| Specialreserve | ||
| Surplusreserve | 332,908,397.60 | 332,908,397.60 |
| Retainedprofit | 692,531,679.68 | 710,334,373.89 |
| Totalowner’sequity | 1,918,165,712.98 | 1,935,968,407.19 |
| Totalliabilitiesandowner’sequity | 2,953,857,079.17 | 2,813,625,400.56 |
LegalRepresentative:LiXinweiGeneralManager:ChenYuhuiCFO:DaiXiji
Personinchargeoffinancialdept.:WangYiTabulator:LiuYan
3.ConsolidatedProfitStatement
InRMB
| Item | 2020semi-annual | 2019semi-annual |
| I.Totaloperatingincome | 518,150,606.21 | 408,124,616.38 |
| Including:Operatingincome | 518,150,606.21 | 408,124,616.38 |
| Interestincome | ||
| Insurancegained | ||
| Commissionchargeandcommissionincome | ||
| II.Totaloperatingcost | 508,157,542.84 | 443,959,972.56 |
| Including:Operatingcost | 453,109,436.14 | 382,997,137.69 |
| Interestexpense | ||
| Commissionchargeandcommissionexpense | ||
| Cashsurrendervalue | ||
| Netamountofexpenseofcompensation | ||
| Netamountofwithdrawalofinsurancecontractreserve | ||
| Bonusexpenseofguaranteeslip | ||
| Reinsuranceexpense | ||
| Taxandextras | 4,419,108.69 | 2,825,433.43 |
| Salesexpense | 2,527,403.66 | 2,566,269.52 |
| Administrativeexpense | 43,036,872.15 | 44,931,864.50 |
| R&Dexpense | ||
| Financialexpense | 5,064,722.20 | 10,639,267.42 |
| Including:Interestexpenses | 18,187,759.13 | 23,542,971.21 |
| Interestincome | -13,142,285.32 | -13,189,605.67 |
| Add:otherincome | 8,755,536.55 | 4,962,155.46 |
| Investmentincome(Lossislistedwith“-”) | 33,291,259.12 | -677,552.37 |
| Including:Investmentincomeonaffiliatedcompanyandjointventure | -243,622.43 | -677,552.37 |
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost(Lossislistedwith“-”) | ||
| Exchangeincome(Lossislistedwith“-”) | ||
| Netexposurehedgingincome(Lossislistedwith“-”) | ||
| Incomefromchangeoffairvalue(Lossislistedwith“-”) | ||
| Lossofcreditimpairment(Lossislistedwith“-”) |
| Lossesofdevaluationofasset(Lossislistedwith“-”) | ||
| Incomefromassetsdisposal(Lossislistedwith“-”) | 828,535.66 | -417,926.32 |
| III.Operatingprofit(Lossislistedwith“-”) | 52,868,394.70 | -31,968,679.41 |
| Add:Non-operatingincome | 4,753.84 | 103,166.50 |
| Less:Non-operatingexpense | 11,110.00 | 46,124.97 |
| IV.Totalprofit(Lossislistedwith“-”) | 52,862,038.54 | -31,911,637.88 |
| Less:Incometaxexpense | 610,366.52 | 1,157,865.76 |
| V.Netprofit(Netlossislistedwith“-”) | 52,251,672.02 | -33,069,503.64 |
| (i)Classifybybusinesscontinuity | ||
| 1.continuousoperatingnetprofit(netlosslistedwith‘-”) | 52,251,672.02 | -33,069,503.64 |
| 2.terminationofnetprofit(netlosslistedwith‘-”) | ||
| (ii)Classifybyownership | ||
| 1.Netprofitattributabletoowner’sofparentcompany | 52,040,498.42 | -25,283,190.82 |
| 2.Minorityshareholders’gainsandlosses | 211,173.60 | -7,786,312.82 |
| VI.Netafter-taxofothercomprehensiveincome | ||
| Netafter-taxofothercomprehensiveincomeattributabletoownersofparentcompany | ||
| (I)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss | ||
| 1.Changesofthedefinedbenefitplansthatre-measured | ||
| 2.Othercomprehensiveincomeunderequitymethodthatcannotbetransfertogain/loss | ||
| 3.Changeoffairvalueofinvestmentinotherequityinstrument | ||
| 4.Fairvaluechangeofenterprise'screditrisk | ||
| 5.Other | ||
| (ii)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss | ||
| 1.Othercomprehensiveincomeunderequitymethodthatcantransfertogain/loss | ||
| 2.Changeoffairvalueofotherdebtinvestment | ||
| 3.Amountoffinancialassetsre-classifytoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionforotherdebtinvestment | ||
| 5.Cashflowhedgingreserve | ||
| 6.Translationdifferencesarisingontranslationofforeigncurrency |
| financialstatements | ||
| 7.Other | ||
| Netafter-taxofothercomprehensiveincomeattributabletominorityshareholders | ||
| VII.Totalcomprehensiveincome | 52,251,672.02 | -33,069,503.64 |
| TotalcomprehensiveincomeattributabletoownersofparentCompany | 52,040,498.42 | -25,283,190.82 |
| Totalcomprehensiveincomeattributabletominorityshareholders | 211,173.60 | -7,786,312.82 |
| VIII.Earningspershare: | ||
| (i)Basicearningspershare | 0.09 | -0.04 |
| (ii)Dilutedearningspershare | 0.09 | -0.04 |
LegalRepresentative:LiXinweiGeneralManager:ChenYuhuiCFO:DaiXijiPersoninchargeoffinancialdept.:WangYiTabulator:LiuYan
4.ProfitStatementofParentCompany
InRMB
| Item | 2020semi-annual | 2019semi-annual |
| I.Operatingincome | 145,767,015.34 | 165,514,051.23 |
| Less:Operatingcost | 137,936,919.09 | 172,328,135.53 |
| Taxesandsurcharge | 1,043,521.78 | 1,087,030.23 |
| Salesexpenses | ||
| Administrationexpenses | 20,573,683.41 | 24,673,677.93 |
| R&Dexpenses | ||
| Financialexpenses | -15,583,586.02 | -14,339,507.18 |
| Including:interestexpenses | 14,003,693.17 | 22,030,984.10 |
| Interestincome | -29,739,688.14 | -36,594,234.59 |
| Add:otherincome | 6,061,054.97 | 1,973,036.55 |
| Investmentincome(Lossislistedwith“-”) | -14,432,400.00 | |
| Including:InvestmentincomeonaffiliatedCompanyandjointventure | ||
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost(Lossislistedwith“-”) | ||
| Netexposurehedgingincome(Lossislistedwith“-”) | ||
| Changingincomeoffairvalue(Lossislistedwith“-”) | ||
| Lossofcreditimpairment(Lossislistedwith“-”) |
| Lossesofdevaluationofasset(Lossislistedwith“-”) | ||
| Incomeondisposalofassets(Lossislistedwith“-”) | 828,535.66 | -231,373.37 |
| II.Operatingprofit(Lossislistedwith“-”) | -5,746,332.29 | -16,493,622.10 |
| Add:Non-operatingincome | ||
| Less:Non-operatingexpense | 1,110.00 | |
| III.TotalProfit(Lossislistedwith“-”) | -5,747,442.29 | -16,493,622.10 |
| Less:Incometax | -2,246,824.86 | |
| IV.Netprofit(Netlossislistedwith“-”) | -5,747,442.29 | -14,246,797.24 |
| (i)continuousoperatingnetprofit(netlosslistedwith‘-”) | -5,747,442.29 | -14,246,797.24 |
| (ii)terminationofnetprofit(netlosslistedwith‘-”) | ||
| V.Netafter-taxofothercomprehensiveincome | ||
| (I)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss | ||
| 1.Changesofthedefinedbenefitplansthatre-measured | ||
| 2.Othercomprehensiveincomeunderequitymethodthatcannotbetransfertogain/loss | ||
| 3.Changeoffairvalueofinvestmentinotherequityinstrument | ||
| 4.Fairvaluechangeofenterprise'screditrisk | ||
| 5.Other | ||
| (II)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss | ||
| 1.Othercomprehensiveincomeunderequitymethodthatcantransfertogain/loss | ||
| 2.Changeoffairvalueofotherdebtinvestment | ||
| 3.Amountoffinancialassetsre-classifytoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionforotherdebtinvestment | ||
| 5.Cashflowhedgingreserve | ||
| 6.Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements | ||
| 7.Other | ||
| VI.Totalcomprehensiveincome | -5,747,442.29 | -14,246,797.24 |
| VII.Earningspershare: | ||
| (i)Basicearningspershare | ||
| (ii)Dilutedearningspershare |
LegalRepresentative:LiXinweiGeneralManager:ChenYuhuiCFO:DaiXijiPersoninchargeoffinancialdept.:WangYiTabulator:LiuYan
5.ConsolidatedCashFlowStatement
InRMB
| Item | 2020semi-annual | 2019semi-annual |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 546,650,431.87 | 428,898,326.58 |
| Netincreaseofcustomerdepositandinterbankdeposit | ||
| Netincreaseofloanfromcentralbank | ||
| Cashreceivedfromoriginalinsurancecontractfee | ||
| Netcashreceivedfromreinsurancebusiness | ||
| Netincreaseofinsuredsavingsandinvestment | ||
| Cashreceivedfrominterest,commissionchargeandcommission | ||
| Netincreaseofcapitalborrowed | ||
| Netincreaseofreturnedbusinesscapital | ||
| Netcashreceivedbyagentsinsaleandpurchaseofsecurities | ||
| Write-backoftaxreceived | 825,437.15 | 1,346,224.12 |
| Othercashreceivedconcerningoperatingactivities | 22,506,294.89 | 70,033,512.82 |
| Subtotalofcashinflowarisingfromoperatingactivities | 569,982,163.91 | 500,278,063.52 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | 375,599,637.22 | 333,819,040.13 |
| Netincreaseofcustomerloansandadvances | ||
| Netincreaseofdepositsincentralbankandinterbank | ||
| Cashpaidfororiginalinsurancecontractcompensation | ||
| Netincreaseofcapitallent | ||
| Cashpaidforinterest,commission |
| chargeandcommission | ||
| Cashpaidforbonusofguaranteeslip | ||
| Cashpaidto/forstaffandworkers | 75,085,663.24 | 66,444,597.80 |
| Taxespaid | 28,204,829.24 | 17,292,868.12 |
| Othercashpaidconcerningoperatingactivities | 21,155,472.75 | 26,504,180.58 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 500,045,602.45 | 444,060,686.63 |
| Netcashflowsarisingfromoperatingactivities | 69,936,561.46 | 56,217,376.89 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | ||
| Cashreceivedfrominvestmentincome | 254,147.93 | |
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | 1,989,560.00 | |
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | ||
| Othercashreceivedconcerninginvestingactivities | 800,000.00 | |
| Subtotalofcashinflowfrominvestingactivities | 1,054,147.93 | 1,989,560.00 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 5,447,277.81 | 22,830,724.69 |
| Cashpaidforinvestment | 53,434,321.12 | |
| Netincreaseofmortgagedloans | ||
| Netcashreceivedfromsubsidiariesandotherunitsobtained | ||
| Othercashpaidconcerninginvestingactivities | 12,577,163.02 | |
| Subtotalofcashoutflowfrominvestingactivities | 71,458,761.95 | 22,830,724.69 |
| Netcashflowsarisingfrominvestingactivities | -70,404,614.02 | -20,841,164.69 |
| III.Cashflowsarisingfromfinancingactivities | ||
| Cashreceivedfromabsorbinginvestment | ||
| Including:Cashreceivedfromabsorbingminorityshareholders’investmentbysubsidiaries | ||
| Cashreceivedfromloans | 844,233,285.00 | 730,000,000.00 |
| Othercashreceivedconcerningfinancingactivities | 170,000,000.00 | 7,303,338.86 |
| Subtotalofcashinflowfromfinancingactivities | 1,014,233,285.00 | 737,303,338.86 |
| Cashpaidforsettlingdebts | 670,000,000.00 | 634,000,000.00 |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 30,452,445.36 | 23,755,459.28 |
| Including:Dividendandprofitof |
| minorityshareholderpaidbysubsidiaries | ||
| Othercashpaidconcerningfinancingactivities | ||
| Subtotalofcashoutflowfromfinancingactivities | 700,452,445.36 | 657,755,459.28 |
| Netcashflowsarisingfromfinancingactivities | 313,780,839.64 | 79,547,879.58 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | 101,178.77 | 3,136.95 |
| V.Netincreaseofcashandcashequivalents | 313,413,965.85 | 114,927,228.73 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 771,490,000.96 | 914,956,611.70 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 1,084,903,966.81 | 1,029,883,840.43 |
LegalRepresentative:LiXinweiGeneralManager:ChenYuhuiCFO:DaiXijiPersoninchargeoffinancialdept.:WangYiTabulator:LiuYan
6.CashFlowStatementofParentCompany
InRMB
| Item | 2020semi-annual | 2019semi-annual |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 175,122,223.90 | 179,341,203.60 |
| Write-backoftaxreceived | 171,207.01 | |
| Othercashreceivedconcerningoperatingactivities | 255,646,269.06 | 472,584,897.62 |
| Subtotalofcashinflowarisingfromoperatingactivities | 430,939,699.97 | 651,926,101.22 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | 117,118,694.51 | 166,269,024.94 |
| Cashpaidto/forstaffandworkers | 47,301,346.15 | 37,380,527.03 |
| Taxespaid | 222,887.49 | 9,889,753.49 |
| Othercashpaidconcerningoperatingactivities | 275,229,334.87 | 180,626,305.78 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 439,872,263.02 | 394,165,611.24 |
| Netcashflowsarisingfromoperating | -8,932,563.05 | 257,760,489.98 |
| activities | ||
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | 59,990,000.00 | |
| Cashreceivedfrominvestmentincome | 254,147.93 | |
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | 1,794,800.00 | |
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | ||
| Othercashreceivedconcerninginvestingactivities | 230,318,617.98 | |
| Subtotalofcashinflowfrominvestingactivities | 290,562,765.91 | 1,794,800.00 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 1,915,256.43 | 15,789,275.99 |
| Cashpaidforinvestment | 53,434,321.12 | |
| Netcashreceivedfromsubsidiariesandotherunitsobtained | ||
| Othercashpaidconcerninginvestingactivities | ||
| Subtotalofcashoutflowfrominvestingactivities | 55,349,577.55 | 15,789,275.99 |
| Netcashflowsarisingfrominvestingactivities | 235,213,188.36 | -13,994,475.99 |
| III.Cashflowsarisingfromfinancingactivities | ||
| Cashreceivedfromabsorbinginvestment | ||
| Cashreceivedfromloans | 544,233,285.00 | 430,000,000.00 |
| Othercashreceivedconcerningfinancingactivities | 5,000,000.00 | |
| Subtotalofcashinflowfromfinancingactivities | 549,233,285.00 | 430,000,000.00 |
| Cashpaidforsettlingdebts | 370,000,000.00 | 530,000,000.00 |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 25,373,959.23 | 20,895,394.22 |
| Othercashpaidconcerningfinancingactivities | 600,600.00 | |
| Subtotalofcashoutflowfromfinancingactivities | 395,974,559.23 | 550,895,394.22 |
| Netcashflowsarisingfromfinancingactivities | 153,258,725.77 | -120,895,394.22 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | 848.67 | 391.81 |
| V.Netincreaseofcashandcashequivalents | 379,540,199.75 | 122,871,011.58 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 632,948,706.11 | 766,041,463.01 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 1,012,488,905.86 | 888,912,474.59 |
LegalRepresentative:LiXinweiGeneralManager:ChenYuhuiCFO:DaiXijiPersoninchargeoffinancialdept.:WangYiTabulator:LiuYan
7.StatementofChangesinOwners’Equity(Consolidated)
ThisPeriod
InRMB
| Item | 2020semi-annual | ||||||||||||||
| Owners’equityattributabletotheparentCompany | Minorityinterests | Totalowners’equity | |||||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Provisionofgeneralrisk | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Perpetualcapitalsecurities | Other | |||||||||||||
| I.Balanceattheendofthelastyear | 602,762,596.00 | 362,770,922.10 | -2,500,000.00 | 332,908,397.60 | 706,830,892.54 | 2,002,772,808.24 | 59,719,513.26 | 2,062,492,321.50 | |||||||
| Add:Changesofaccountingpolicy | |||||||||||||||
| Errorcorrectionofthelastperiod | |||||||||||||||
| Enterprisecombineunderthesamecontrol | |||||||||||||||
| Other | |||||||||||||||
| II.Balanceatthebeginningofthisyear | 602,762,596.00 | 362,770,922.10 | -2,500,000.00 | 332,908,397.60 | 706,830,892.54 | 2,002,772,808.24 | 59,719,513.26 | 2,062,492,321.50 | |||||||
| III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”) | 39,985,246.50 | 39,985,246.50 | -30,408,162.88 | 9,577,083.62 | |||||||||||
| (i)Totalcomprehensiveincome | 52,040,498.42 | 52,040,498.42 | 211,173.60 | 52,251,672.02 | |||||||||||
| (ii)Owners’devotedanddecreasedcapital | -30,619,336.48 | -30,619,336.48 | ||||
| 1.Commonsharesinvestedbyshareholders | ||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||
| 4.Other | -30,619,336.48 | -30,619,336.48 | ||||
| (III)Profitdistribution | -12,055,251.92 | -12,055,251.92 | -12,055,251.92 | |||
| 1.Withdrawalofsurplusreserves | ||||||
| 2.Withdrawalofgeneralriskprovisions | ||||||
| 3.Distributionforowners(orshareholders) | -12,055,251.92 | -12,055,251.92 | -12,055,251.92 | |||
| 4.Other | ||||||
| (IV)Carryingforwardinternalowners’equity | ||||||
| 1.Capitalreservesconversedtocapital(sharecapital) | ||||||
| 2.Surplusreservesconversedtocapital(sharecapital) | ||||||
| 3.Remedyinglosswithsurplusreserve | ||||||
| 4．Carry-overretainedearningsfrom |
| thedefinedbenefitplans | |||||||||||||
| 5．Carry-overretainedearningsfromothercomprehensiveincome | |||||||||||||
| 6.Other | |||||||||||||
| (V)Reasonablereserve | |||||||||||||
| 1.Withdrawalinthereportperiod | |||||||||||||
| 2.Usageinthereportperiod | |||||||||||||
| (VI)Others | |||||||||||||
| IV.Balanceattheendofthereportperiod | 602,762,596.00 | 362,770,922.10 | -2,500,000.00 | 332,908,397.60 | 746,816,139.04 | 2,042,758,054.74 | 29,311,350.38 | 2,072,069,405.12 |
LastPeriod
InRMB
| Item | 2019semi-annual | ||||||||||||||
| Owners’equityattributabletotheparentCompany | Minorityinterests | Totalowners’equity | |||||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Provisionofgeneralrisk | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Perpetualcapitalsecurities | Other | |||||||||||||
| I.Balanceattheendofthelastyear | 602,762,596.00 | 362,770,922.10 | 332,908,397.60 | 679,429,935.81 | 1,977,871,851.51 | 58,927,527.37 | 2,036,799,378.88 | ||||||||
| Add:Changesofaccountingpolicy | |||||||||||||||
| Errorcorrectionofthelastperiod | |||||||||||||||
| Enterprisecombineunderthesamecontrol | |||||||||||||||
| Other | |||||||||||||||
| II.Balanceatthebeginningofthisyear | 602,762,596.00 | 362,770,922.10 | 332,908,397.60 | 679,429,935.81 | 1,977,871,851.51 | 58,927,527.37 | 2,036,799,378.88 | ||||||||
| III.Increase/Decreaseinthis | -25,283,190. | -25,283,190. | -7,786,312.82 | -33,069,503.64 | |||||||||||
| year(Decreaseislistedwith“-”) | 82 | 82 | ||||
| (i)Totalcomprehensiveincome | -25,283,190.82 | -25,283,190.82 | -7,786,312.82 | -33,069,503.64 | ||
| (ii)Owners’devotedanddecreasedcapital | ||||||
| 1.Commonsharesinvestedbyshareholders | ||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||
| 4.Other | ||||||
| (III)Profitdistribution | ||||||
| 1.Withdrawalofsurplusreserves | ||||||
| 2.Withdrawalofgeneralriskprovisions | ||||||
| 3.Distributionforowners(orshareholders) | ||||||
| 4.Other | ||||||
| (IV)Carryingforwardinternalowners’equity | ||||||
| 1.Capitalreservesconversedtocapital(sharecapital) | ||||||
| 2.Surplusreservesconversedtocapital(sharecapital) | ||||||
| 3.Remedying |
| losswithsurplusreserve | |||||||||||
| 4．Carry-overretainedearningsfromthedefinedbenefitplans | |||||||||||
| 5．Carry-overretainedearningsfromothercomprehensiveincome | |||||||||||
| 6.Other | |||||||||||
| (V)Reasonablereserve | |||||||||||
| 1.Withdrawalinthereportperiod | |||||||||||
| 2.Usageinthereportperiod | |||||||||||
| (VI)Others | |||||||||||
| IV.Balanceattheendofthereportperiod | 602,762,596.00 | 362,770,922.10 | 332,908,397.60 | 654,146,744.99 | 1,952,588,660.69 | 51,141,214.55 | 2,003,729,875.24 |
LegalRepresentative:LiXinweiGeneralManager:ChenYuhuiCFO:DaiXijiPersoninchargeoffinancialdept.:WangYiTabulator:LiuYan
8.StatementofChangesinOwners’Equity(ParentCompany)ThisPeriod
InRMB
| Item | 2020semi-annual | |||||||||||
| Sharecapital | Otherequityinstrument | Capitalpublicreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Retainedprofit | Other | Totalowners’equity | |||
| Preferredstock | Perpetualcapitalsecurities | Other | ||||||||||
| I.Balanceattheendofthelastyear | 602,762,596.00 | 289,963,039.70 | 332,908,397.60 | 710,334,373.89 | 1,935,968,407.19 | |||||||
| Add: | ||||||||||||
| Changesofaccountingpolicy | ||||||||
| Errorcorrectionofthelastperiod | ||||||||
| Other | ||||||||
| II.Balanceatthebeginningofthisyear | 602,762,596.00 | 289,963,039.70 | 332,908,397.60 | 710,334,373.89 | 1,935,968,407.19 | |||
| III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”) | -17,802,694.21 | -17,802,694.21 | ||||||
| (i)Totalcomprehensiveincome | -5,747,442.29 | -5,747,442.29 | ||||||
| (ii)Owners’devotedanddecreasedcapital | ||||||||
| 1.Commonsharesinvestedbyshareholders | ||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||||
| 4.Other | ||||||||
| (III)Profitdistribution | -12,055,251.92 | -12,055,251.92 | ||||||
| 1.Withdrawalofsurplusreserves | ||||||||
| 2.Distributionforowners(orshareholders) | -12,055,251.92 | -12,055,251.92 | ||||||
| 3.Other | ||||||||
| (IV)Carryingforwardinternalowners’equity | ||||||||
| 1.Capitalreservesconversedtocapital(sharecapital) | ||||||||
| 2.Surplusreserves |
| conversedtocapital(sharecapital) | ||||||||
| 3.Remedyinglosswithsurplusreserve | ||||||||
| 4．Carry-overretainedearningsfromthedefinedbenefitplans | ||||||||
| 5．Carry-overretainedearningsfromothercomprehensiveincome | ||||||||
| 6.Other | ||||||||
| (V)Reasonablereserve | ||||||||
| 1.Withdrawalinthereportperiod | ||||||||
| 2.Usageinthereportperiod | ||||||||
| (VI)Others | ||||||||
| IV.Balanceattheendofthereportperiod | 602,762,596.00 | 289,963,039.70 | 332,908,397.60 | 692,531,679.68 | 1,918,165,712.98 |
Lastperiod
InRMB
| Item | 2019semi-annual | |||||||||||
| Sharecapital | Otherequityinstrument | Capitalpublicreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Retainedprofit | Other | Totalowners’equity | |||
| Preferredstock | Perpetualcapitalsecurities | Other | ||||||||||
| I.Balanceattheendofthelastyear | 602,762,596.00 | 289,963,039.70 | 332,908,397.60 | 709,581,350.64 | 1,935,215,383.94 | |||||||
| Add:Changesofaccountingpolicy | ||||||||||||
| Errorcorrectionofthelastperiod | ||||||||||||
| Other | ||||||||||||
| II.Balanceatthebeginningofthisyear | 602,762,596.00 | 289,963,039.70 | 332,908,397.60 | 709,581,350.64 | 1,935,215,383.94 | |||||||
| III.Increase/Decreaseinthisyear(Decrease | -14,246,797.24 | -14,246,797.24 | ||||||||||
| islistedwith“-”) | ||||
| (i)Totalcomprehensiveincome | -14,246,797.24 | -14,246,797.24 | ||
| (ii)Owners’devotedanddecreasedcapital | ||||
| 1.Commonsharesinvestedbyshareholders | ||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||
| 4.Other | ||||
| (III)Profitdistribution | ||||
| 1.Withdrawalofsurplusreserves | ||||
| 2.Distributionforowners(orshareholders) | ||||
| 3.Other | ||||
| (IV)Carryingforwardinternalowners’equity | ||||
| 1.Capitalreservesconversedtocapital(sharecapital) | ||||
| 2.Surplusreservesconversedtocapital(sharecapital) | ||||
| 3.Remedyinglosswithsurplusreserve | ||||
| 4．Carry-overretainedearningsfromthedefined |
| benefitplans | ||||||||
| 5．Carry-overretainedearningsfromothercomprehensiveincome | ||||||||
| 6.Other | ||||||||
| (V)Reasonablereserve | ||||||||
| 1.Withdrawalinthereportperiod | ||||||||
| 2.Usageinthereportperiod | ||||||||
| (VI)Others | ||||||||
| IV.Balanceattheendofthereportperiod | 602,762,596.00 | 289,963,039.70 | 332,908,397.60 | 695,334,553.40 | 1,920,968,586.70 |
LegalRepresentative:LiXinweiGeneralManager:ChenYuhuiCFO:DaiXijiPersoninchargeoffinancialdept.:WangYiTabulator:LiuYan
ShenzhenNanshanPowerCo.,Ltd.NotestofinancialstatementofSemi-Annual2020
I.CompanyProfile
(1)Profile
ShenzhenNanshanPowerCo.,Ltd(hereinafter,the“Company”)wasreorganizedtobeajoint-stockenterprisefromaforeigninvestmententerpriseon25November1993,upontheapprovalofGeneralOfficeofShenzhenMunicipalGovernmentwithDocumentShenFuBanFu[1993]No.897.AfterapprovedbyDocumentShenZhuBanFu[1993]No.179issuedbyShenzhenSecuritiesRegulatoryOffice,on3January1994,theCompanyoffered40,000,000RMBcommonsharesand37,000,000domesticallylistedforeignsharesinandoutofChina.AndtheRMBcommonshares(A-stock)anddomesticallylistedforeignlistedshares(B-stock)werelistedinShenzhenStockExchangesuccessivelyonJuly1,1994andNov.28,1994.HeadquarteroftheCompanylocatedon16/F,17/F,HanTangBuilding,OCT,NanshanDistrict,ShenzhenCity,GuangdongProvince,P.R.C.ThefinancialstatementhasapprovedforreportbytheBoardon12August2020.
(2)Scopeofconsolidatefinancialstatement
SubsidiaryincludedintheconsolidatefinancialstatementoftheCompanyupto30June2020areas:
| Subsidiary |
| ShenNanDian(Zhongshan)ElectricPowerCo.,Ltd.（“ZhongshanElectricPower”） |
| ShenzhenShennandianTurbineEngineeringTechnologyCo.,Ltd.（“EngineeringCompany”） |
| ShenzhenShenNanDianEnvironmentProtectionCo.,Ltd.（“EnvironmentProtectionCompany”） |
| ShenzhenServerPetrochemicalSupplyingCo.,Ltd（“ShenzhenServer”） |
| ShenzhenNewPowerIndustrialCo.,Ltd.（“NewPower”） |
| ShenNanEnergy(Singapore)Co.,Ltd.（“SingaporeCompany”） |
| HongKongSyndisomeCo.,Ltd.（“Syndisome”） |
| ZhongshanShenNanDianStorageCo.,Ltd.（“ShenStorage”） |
ScopeoftheconsolidatefinancialstatementanditschangesfoundmoreintheVI.ChangeofConsolidateScopeandVII.EquityinotherentitycarryintheNote
II.PreparationbasisofFinancialstatement
(1)PreparationbasisTheCompany’sfinancialstatementshavebeenpreparedbasedonthegoingconcernandtheactualtransactionsandevents.InaccordancewiththeAccountingStandardsforBusinessEnterprises-BasicNormsandeveryspecificaccountingrules,theapplicationguidelinesoftheAccountingStandardsforBusinessEnterprises,interpretationsandotherrelatedrulesoftheAccountingStandardsforBusinessEnterprises(hereinafterreferredtoas“ASBEs”),andthedisclosurerequirementsofthe“RegulationonthePreparationofInformationDisclosuresofCompaniesIssuingPublicShares,No.15-GeneralRequirementsforFinancialReports”ofChinaSecuritiesRegulatoryCommission.
(2)Goingconcern
TheCompanyiscapableofgoingconcernfor12monthsfromtheendofthereportingperiod,andtherearenomajorissuesaffectingtheabilitytogoconcern.III.MajorAccountingPoliciesandEstimation
TheCompanytogetherwithitssubsidiariesismainlyengagedinbusinessesasproductionofpowerandheat,powerplantconstruction,fueltrading,engineeringconsultingandandsludgedrying.Accordingtotheactualproductionandoperationcharacteristics,theCompanyanditssubsidiariesestablishcertainspecificaccountingpoliciesandaccountingestimatesinrespectoftheirtransactionsandmatterssuchassalesrevenuerecognitionpursuanttorelevantbusinessaccountingprinciples.Detailsaresetoutin(16)Fixedassetsandthe(25)Revenue
underNoteIII.Forexplanationonmaterialaccountingjudgmentandestimateissuedbythemanagement,pleasereferto(32)MajoraccountingjudgmentandestimationunderNoteIII.
(1)StatementonobservationofAccountingStandardforBusinessEnterprisesTheFinancialStatementsareuptorequirementsofAccountingStandardsforBusinessEnterprises,andreflectthefinancialstatus,operationoutcomesandcashflowsoftheCompanyinreportingperiodintruthfulnessandcompleteness.
(2)Accountingperiod
AccountingperiodoftheCompanydivideintoannualandmedium-term,andthemedium-termisthereportingperiodthatshorterthanonecompletedaccountingyear.TheCompany’saccountingyearisGregoriancalendaryear,namelyfrom1
st
Januaryto31
st
December.
(3)Operatingcycle
TheoperatingcycleoftheCompanyis12months.
(4)Book-keepingstandardcurrencyBook-keepingstandardoftheCompanyisRMB(CNY)
(5)AccountingtreatmentonenterprisecombineunderthesamecontrolandunderthedifferentcontrolEnterprisecombinationunderthesamecontrol:TheassetsandliabilitiesobtainedbytheCompanyinenterprisecombinationaremeasuredatthebookvalueoftheconsolidatedfinancialstatementsoftheultimatecontrollingpartyinaccordancewiththeassetsandliabilitiesofthecombinedpartyonthedateofcombination.Thedifferencebetweenthecarryingamountofthenetassetsobtainedandthecarryingamountoftheconsiderationpaidforthecombination(ortheaggregatenominalvalueofsharesissuedasconsideration)ischargedtothesharecapitalpremiumincapitalreserve.Ifthesharecapitalpremiumincapitalreserveisnotsufficienttoabsorbthedifference,anyexcessshallbeadjustedagainstretainedearnings.Enterprisecombinationsnotunderthesamecontrol:TheCompany'sassetspaidandliabilitiesincurredorassumedonthedateofpurchaseasaconsiderationofenterprisecombinationaremeasuredatfairvalue,andthedifferencebetweenthefairvalueanditsbookvalueisincludedinthecurrentprofitandloss.Wherethecostofabusinesscombinationexceedstheacquirer’sinterestinthefairvalueoftheacquiree’sidentifiablenetassets,thedifferenceisrecognizedasgoodwill;wherethecostofabusinesscombinationlessthantheacquirer’sinterestinthefairvalueoftheacquiree’sidentifiablenetassets,reckonedintocurrentgains/lossesafterdouble-check.Theintermediaryfees,suchasauditing,legalservices,consultationandotherdirectlyrelevantincurredinthemergerofenterprisesshallbereckonintothecurrentgains/losseswhenincurred;thetransactioncostsofissuingequitysecuritiesforthepurposeofenterprisecombinationshouldbecharge-off.
(6)Preparationmethodsforconsolidatedstatement
1.Consolidatescope
Scopeoftheconsolidatefinancialstatementisdeterminedonacontrolbasis,allsubsidiaries(includingthepartoftheenterpriseundercontroloftheinvesteethatcanbedivided)areincludedintheconsolidatedfinancialstatement.
2.ConsolidateproceduresBasedonthefinancialstatementsofitselfanditssubsidiaries,theCompanycompilestheconsolidatedfinancialstatementsinlinewithotherrelevantinformation.TheCompanycompilesconsolidatedfinancialstatements,considerstheentireenterprisegroupasanaccountingentity,andreflectstheoverallfinancialposition,operatingresultsandcashflowoftheenterprisegroupinaccordancewiththerelevantaccountingstandards'recognition,measurementandpresentationrequirementsandinaccordancewithunifiedaccountingpolicies.TheaccountingpoliciesandaccountingperiodsadoptedbyallsubsidiariesincludedintheconsolidationscopeoftheconsolidatedfinancialstatementsareconsistentwiththeCompany.IftheaccountingpoliciesandaccountingperiodsadoptedbythesubsidiariesareinconsistentwiththeCompany,whenpreparingtheconsolidatedfinancialstatements,makenecessaryadjustmentsaccordingtotheaccountingpoliciesandaccountingperiodsoftheCompany.Forasubsidiaryacquiredthroughabusinesscombinationnotunderthesamecontrol,itsfinancialstatementsareadjustedbasedonthefairvalueoftheidentifiablenetassetsattheacquisitiondate.Forasubsidiaryacquiredthroughabusinesscombinationunderthesamecontrol,itsfinancialstatementsareadjustedbasedonthebookvalueofitsassetsandliabilities(includingthegoodwillformedbytheultimatecontrollingparty'sacquisitionofthesubsidiary)intheultimatecontrollingparty'sfinancialstatements.Thesubsidiary'sowner'sequity,currentnetprofitorlossandtheshareofcurrentcomprehensiveincomebelongingtominorityshareholdersareseparatelylistedundertheowner'sequityitemintheconsolidatedbalancesheet,underthenetprofititemintheconsolidatedincomestatementandunderthetotalcomprehensiveincomeitem.Ifthecurrentlosssharedbytheminorityshareholdersofasubsidiaryexceedstheminorityshareholder'shareintheowner'sequityofthesubsidiaryatthebeginningoftheperiod,thebalanceshalloffsetagainsttheminorityshareholders'equity.
(1)IncreasesubsidiariesorbusinessesDuringthereportingperiod,ifasubsidiaryorbusinessisaddedduetoabusinesscombinationunderthesamecontrol,adjusttheopeningbalanceoftheconsolidatedbalancesheet;incorporatetheincome,expenses,andprofitsofthesubsidiaryorbusinesscombinationfromthebeginningofthecurrentperiodtotheendofthereportingperiodintotheconsolidatedincomestatement;incorporatethecashflowsofthesubsidiaryorbusinesscombinationfromthebeginningofthecurrentperiodtotheendofthereportingperiodintotheconsolidatedcashflowstatement,andadjusttherelevantitemsofthecomparativestatementasiftheconsolidatedreportingentityhadbeenexistingsincethetimewhentheultimatecontrollingpartybegancontrolling.Whereitispossibletoexercisecontroloveraninvesteeunderthesamecontrolduetoadditionalinvestment,allpartiesparticipatinginthecombinationaredeemedtohaveadjustedintheircurrentstatewhentheultimatecontrollingpartycommencedcontrol.Theequityinvestmentheldbeforethecontrolofthecombinedpartyisobtained,therelevantprofitorlossandothercomprehensiveincomethathavebeenconfirmedbetweenthedateofacquisitionoftheoriginalequityandthedateonwhichthecombiningpartyandthecombinedpartyareunderthesamecontroluntilthecombiningdate,aswellasotherchangesinnetassetsrespectivelywritedowntheretained
earningsatthebeginningofperiodorthecurrentprofitsandlossesinthecomparativestatements.Duringthereportingperiod,ifasubsidiaryorbusinessisaddedduetoabusinesscombinationnotunderthesamecontrol,theopeningbalanceoftheconsolidatedbalancesheetperiodwillnotbeadjusted;theincome,expenses,andprofitsofthesubsidiaryorbusinessfromtheacquisitiondatetotheendofthereportingperiodwillbeincludedintheconsolidatedincomestatement;thecashflowsofthesubsidiaryorbusinessfromtheacquisitiondatetotheendofthereportingperiodareincludedintheconsolidatedstatementofcashflow.Forreasonssuchasadditionalinvestmentsthatcancontrolaninvesteenotunderthesamecontrol,theCompanyremeasurestheequityoftheacquireeheldbeforethepurchasedateaccordingtothefairvalueoftheequityonthepurchasedate,andthebalancebetweenthefairvalueanditsbookvalueisincludedinthecurrentinvestmentincome.Iftheequityoftheacquireeheldbeforethepurchasedateinvolvesothercomprehensiveincomeundertheequitymethodandotherchangesinowner'sequityotherthannetprofitorloss,othercomprehensiveincomeandprofitdistribution,othercomprehensiveincomeandotherchangesinowner'sequityrelatedtoitshallbeconvertedintotheinvestmentincomeofthecurrentperiodonthedateofpurchase,exceptforothercomprehensiveincomearisingfromthere-measurementofthenetliabilitiesorchangesinnetassetsofthedefinedbenefitplanoftheinvestee.
(2)Disposalofsubsidiariesorbusinesses
①GeneraltreatmentmethodDuringthereportingperiod,whentheCompanydisposesofasubsidiaryorbusiness,theincome,expensesandprofitsofthesubsidiaryorbusinessfromthebeginningoftheperiodtothedisposaldateareincludedintheconsolidatedincomestatement,whilethecashflowofthesubsidiaryorthebusinessfromthebeginningoftheperiodtothedisposaldateisincludedintheconsolidatedstatementofcashflow.Forcontrolrightslossinoriginalsubsidiaryforpartialequityinvestmentdisposalorotherreasons,theremainedequityshouldre-measuredbasedonthefairvalueatdateofcontrollosses.Thedifferencebetweenthenetassetsoforiginalsubsidiarysharebyproportionheldthatsustainablecalculatedsincepurchaseddate(orcombinationdate)andsumofconsiderationobtainedbyequitydisposalandfairvalueofremainequity,reckonedintothecurrentinvestmentincomeofcontrolrightsloss.Othercomprehensiveincomerelatedtotheoriginalsubsidiary'sequityinvestmentorotherchangesinowner'sequityotherthannetprofitandloss,othercomprehensiveincomeandprofitdistributionwillbeconvertedtocurrentinvestmentincomewhenthecontrolislost,exceptforothercomprehensiveincomearisingfromtheremeasurementofthenetliabilitiesorchangesinnetassetsofthedefinedbenefitplanoftheinvestee.Ifotherinvestors’capitalincreasesinthesubsidiaryresultsinadeclineintheCompany'sshareholdingratioandthuslossofcontrolpower,accountingshallbeconductedinaccordancewiththeaboveprinciples.
②Disposesubsidiarystep-by-stepWhentheCompanydisposesofequityinvestmentinasubsidiarybyastage-upapproachwithseveraltransactionsuntilthecontroloverthesubsidiaryislost,theseseveraltransactionsrelatedtothedisposalofequityinvestmentinasubsidiaryareaccountedforastransactionsinabasketwhentheterms,conditionsandeconomicimpactsoftheseseveraltransactionsmeetthefollowingoneormoreconditions:
i.thesetransactionsareenteredintoatthesametimeorafterconsideringtheirimpactsoneachother;
ii.thesetransactionsasawholecanreachcompletebusinessresults;iiitheoccurrenceofatransactiondependsonatleasttheoccurrenceofanothertransaction;iv.anindividualtransactionisnotdeemedaseconomic,butisdeemedaseconomicwhenconsideredwithothertransactions.Whenseveraltransactionsrelatedtothedisposalofequityinvestmentinasubsidiaryuntilthecontroloverthesubsidiaryislostfallwithintransactionsinabasket,eachofwhichisaccountedforasdisposalofasubsidiarywithatransactionuntilthecontroloverasubsidiaryislost;however,thedifferentbetweentheamountofdisposalpriortothelossofcontrolandthenetassetsofasubsidiaryattributabletothedisposalinvestmentshallberecognizedasothercomprehensiveincomeinconsolidatedfinancialstatementsandtransferredtoprofitorlossfortheperiodatthetimewhenthecontrolislost.Ifthetransactionsthatdisposeoftheequityinvestmentinthesubsidiaryuntilthelossofcontroldonotbelongtothepackagetransaction,beforethelossofcontrol,therelevantpoliciesforpartialdisposaloftheequityinvestmentinthesubsidiaryshallbeaccountedforwithoutlosingcontrol.Whenthecontrolrightislost,theaccountingtreatmentshallbecarriedoutaccordingtothegeneraltreatmentmethodfordisposingofthesubsidiary.
(3)PurchaseofminoritysharesinsubsidiariesThedifferencebetweentheCompany'snewlyacquiredlong-termequityinvestmentduetothepurchaseofminoritysharesandthenetassetssharecalculatedcontinuouslybythesubsidiaryfromthedateofpurchase(ormergerdate)inaccordancewiththecalculationofthenewlyincreasedshareholdingratio,adjusttheequitypremiuminthecapitalreserveintheconsolidatedbalancesheet,iftheequitypremiuminthecapitalreserveisinsufficienttooffset,adjusttheretainedearnings.
(4)PartialdisposalofequityinvestmentinsubsidiarieswithoutlosingcontrolThedifferencebetweenthedisposalcostobtainedasaresultofpartialdisposaloflong-termequityinvestmentinasubsidiarywithoutlosingcontrolandthenetassetssharecalculatedcontinuouslybythesubsidiaryfromthedateofpurchaseormergercorrespondingtothedisposalofthelong-termequityinvestment,adjusttheequitypremiuminthecapitalreserveintheconsolidatedbalancesheet,iftheequitypremiuminthecapitalreserveisinsufficienttooffset,adjusttheretainedearnings.
(7)Classificationofjointarrangementandaccountingtreatment
Jointarrangementisdividedintojointoperationandjointventure.Asajointpartyofthejointarrangement,itisajointoperationwhentheCompanyenjoysassetsrelatedtothearrangementandbearstheliabilitiesrelatedtothearrangement.Thecompanyconfirmsthefollowingitemsrelatedtotheshareofinterestsinitsjointoperations,andinaccordancewiththeprovisionsoftherelevantaccountingstandardsforaccountingtreatment:
(1)RecognizetheassetsheldsolelybytheCompany,andrecognizeassetsheldjointlybytheCompanyinappropriationtotheshareoftheCompany;
(2)RecognizetheobligationsassumedsolelybytheCompany,andrecognizeobligationsassumedjointlybytheCompanyinappropriationtotheshareoftheCompany;
(3)RecognizerevenuefromdisposaloftheshareofjointoperationsoftheCompany;
(4)RecognizefeessolelyoccurredbyCompany;
(5)RecognizefeesfromjointoperationsinappropriationtotheshareoftheCompany.Accountingpolicyforthejointventureinvestmentfoundmorein(14)Long-termequityinvestmentunderNoteIII.
(8)Determinationcriteriaofcashandcashequivalent
Whilepreparingthecashflowstatement,thestockcashandsavingsavailableforpaymentatanytimearerecognizedascash.Theinvestmentsmeetsthefollowfourconditionsatthesametimearerecognizedascashequivalent,thatisshort-term(normallyfallduewithinthreemonthsfromthedateofacquisition)andhighlyliquidinvestmentsheldtheGroupwhicharereadilyconvertibleintoknownamountsofcashandwhicharesubjecttoinsignificantriskofvaluechange.
(9)Foreigncurrencybusinessandforeigncurrencystatementtranslation
1.ForeigncurrencybusinessForeigncurrencybusinessusesthespotexchangerateonthetransactiondateastheconversionratetoconvertforeigncurrencyamountsintoRMBforaccounting.Thebalanceofforeigncurrencymonetaryitemsatthebalancesheetdateisconvertedatthespotexchangerateonthebalancesheetdate,theresultingexchangedifferenceisincludedincurrentprofitandloss,exceptthattheexchangedifferencearisingfromforeigncurrencyspecialborrowingsrelatedtotheacquisitionorconstructionofassetseligibleforcapitalizationisdisposedwiththeprincipleofborrowingcostscapitalization.
2.Foreigncurrencystatementtranslation
Assetsandliabilitiesinthebalancesheetareconvertedatthespotexchangerateonthebalancesheetdate;theowners'equityitemsareconvertedatthespotexchangerateatthetimeofoccurrence,exceptforthe"undistributedprofit"item.Theincomeandexpenseitemsintheincomestatementareconvertedatthespotexchangerateonthetransactiondate.Whendisposingofanoverseasoperation,thetranslationdifferenceintheforeigncurrencyfinancialstatementsrelatedtotheoverseasoperationistransferredfromtheowner'sequityitemtothedisposalofcurrentprofitorloss.
(10)Financialinstrument
Financialinstrumentconsistoffinancialassets,financialliabilityandequityinstrument.
1.ClassificationoffinancialinstrumentBasedontheCompany'sbusinessmodelformanagingfinancialassetsandthecontractualcashflowcharacteristicsoffinancialassets,financialassetsareclassifiedasthefinancialassetsmeasuredatamortizedcost,thefinancialassets(debtinstruments)measuredatfairvalueandwhosechangesareincludedinothercomprehensiveincomeandthefinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitandlossatinitialrecognition.Businessmodeltocollectthecontractualcashflow,andthecontractualcashflowisonlythepaymentoftheprincipalandtheinterestbasedontheoutstandingprincipalamount,isclassifiedasafinancialassetmeasuredat
amortizedcost;businessmodeltocollectthecontractualcashflowandsellthefinancialasset,andthecontractualcashflowisonlythepaymentofprincipalandtheinterestbasedontheoutstandingprincipalamount,isclassifiedasafinancialassetmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome(debtinstruments);otherfinancialassetsotherthantheseareclassifiedasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedinthecurrentprofitandloss.Foranon-tradableequityinstrumentinvestment,theCompanydeterminesatthetimeofinitialrecognitionwhethertodesignateitasafinancialasset(equityinstrument)measuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome.Atthetimeofinitialrecognition,inordertoeliminateorsignificantlyreduceaccountingmismatches,financialassetscanbedesignatedasfinancialassetsthataremeasuredatfairvalueandwhosechangesareincludedinthecurrentprofitandloss.Atthetimeofinitialrecognition,financialliabilitiesareclassifiedintofinancialliabilitiesthataremeasuredatfairvalueandwhosechangesareincludedinthecurrentprofitandlossandfinancialliabilitiesthataremeasuredatamortizedcost.Afinancialliabilitythatmeetsoneofthefollowingconditionscanbedesignatedasafinancialliabilitymeasuredatfairvalueandwhosechangesareincludedincurrentprofitandlossatinitialmeasurement:
1)Thisdesignationcaneliminateorsignificantlyreduceaccountingmismatches.
2)Inaccordancewiththecorporateriskmanagementorinvestmentstrategystatedinformalwrittendocuments,makemanagementandperformanceevaluationtofinancialliabilityportfoliosorfinancialassetsandfinancialliabilityportfoliosbasedonfairvalue,andreporttothekeymanagementpersonnelwithintheenterprisebasedonthis.
3)Thefinancialliabilityincludesembeddedderivativesthatneedtobesplitseparately.
2.Recognitionbasisandmeasurementmethodoffinancialinstruments
(1)FinancialassetsmeasuredatamortizedcostFinancialassetsmeasuredatamortizedcostincludebillsreceivable,accountsreceivable,otherreceivables,long-termreceivables,debtinvestment,etc.,whichareinitiallymeasuredatfairvalue,andrelatedtransactioncostsareincludedintheinitiallyrecognizedamount;accountsreceivableexcludingsignificantfinancingcomponentsandaccountsreceivablewithfinancingcomponentsnotexceedingoneyearthattheCompanydecidesnottoconsiderareinitiallymeasuredatthecontracttransactionprice.Theinterestcalculatedbyusingtheeffectiveinterestmethodduringtheholdingperiodisincludedinthecurrentprofitandloss.Whentakingbackordisposing,thedifferencebetweenthecostobtainedandthebookvalueofthefinancialassetisincludedinthecurrentprofitandloss.
(2)Financialassets(debtinstrument)measuredatfairvalueandwhosechangesarereckonedintoothercomprehensiveincomeThefinancialassets(debtinstrument)measuredatfairvalueandwhosechangesarereckonedintoothercomprehensiveincomeconsistofreceivablefinancingandotherdebtinvestmentandinitiallymeasuredatfairvalue,relevanttransactionfeesareincludedininitialrecognizedamount.Thefinancialassetsaresubsequentlymeasuredatfairvalue,andthefairvaluechangesarereckonedintoothercomprehensiveincomeexceptforthe
interest,impairmentlossorgainandexchangegainorlosscalculatedbyactualinterestratemethod.Uponterminationoftherecognition,theaccumulatedgainsorlossespreviouslyincludedinothercomprehensiveincomeshallbetransferredoutandreckonedintocurrentprofitandloss.
(3)Financialassets(equityinstrument)measuredatfairvalueandwhosechangesarereckonedintoothercomprehensiveincomeThefinancialassets(equityinstrument)measuredatfairvalueandwhosechangesarereckonedintoothercomprehensiveincomeconsistoftheequityinstrumentinvestmentetc.andinitiallymeasuredatfairvalue,relevanttransactionfeesareincludedininitialrecognizedamount.Thefinancialassetsaresubsequentlymeasuredatfairvalue,andthefairvaluechangesarereckonedintoothercomprehensiveincome.Thedividendobtainedshouldreckonedintocurrentgains/losses.Uponterminationoftherecognition,theaccumulatedgainsorlossespreviouslyincludedinothercomprehensiveincomeshallbetransferredoutandreckonedintoretainedearnings.
(4)Financialassetsmeasuredatfairvalueandwhosechangesarereckonedintocurrentgains/lossesThefinancialassetsmeasuredatfairvalueandwhosechangesarereckonedintocurrentgains/lossesconsistoftradingfinancialassets,derivativefinancialassetsandothernon-currentfinancialassetsetc.andinitiallymeasuredatfairvalue,relevanttransactionfeesareincludedincurrentgains/losses.Thefinancialassetsaresubsequentlymeasuredatfairvalue,andthefairvaluechangesarereckonedintocurrentgains/losses.Uponterminationoftherecognition,thedifferencebetweenitsfairvalueandinitialentryamountisrecognizedasinvestmentincome,andadjustthegains/lossesfromfairvaluechangesatthesametime.
(5)Financialliabilitymeasuredatfairvalueandwhosechangesarereckonedintocurrentgains/lossesThefinancialliabilitymeasuredatfairvalueandwhosechangesarereckonedintocurrentgains/lossesconsistoftradingfinancialliabilityandderivativefinancialliabilityetc.andinitiallymeasuredatfairvalue,relevanttransactionfeesareincludedincurrentgains/losses.Thefinancialliabilitiesaresubsequentlymeasuredatfairvalue,andthefairvaluechangesarereckonedintocurrentgains/losses.Uponterminationoftherecognition,thedifferencebetweenitsfairvalueandinitialentryamountisrecognizedasinvestmentincome,andadjustthegains/lossesfromfairvaluechangesatthesametime.
(6)FinancialliabilitymeasuredatamortizedcostThefinancialliabilitiesmeasuredatamortizedcostconsistofshort-termloans,notepayable,accountpayable,otheraccountpayable,long-termloans,bondpayableandlong-termaccountpayable,andinitiallymeasuredatfairvalue,relevanttransactionfeesareincludedininitialrecognizedamount.Theinterestscalculatedbyeffectiveinterestratemethodduringtheholdingperiodisreckonedintocurrentgains/losses.Uponterminationoftherecognition,thedifferencebetweenconsiderationpaidandthebookvalueoffinancialliabilityisreckonedintocurrentgains/losses.
3.Recognitionbasisandmeasurementmethodfortransferoffinancialassets
WhentheCompanytransfersfinancialassets,ifalmostallrisksandrewardsofownershipoffinancialassetshavebeentransferredtothetransferee,derecognizethefinancialassets;ifalmostallrisksandrewardsofownershipoffinancialassetshavebeenretained,don’tderecognizethefinancialassets.Whendeterminingwhetherthetransferoffinancialassetsmeetstheaboveconditionsfortheterminationofrecognitionoffinancialassets,adopttheprincipleofsubstanceoverform.TheCompanydistinguishesthetransferoffinancialassetsintooveralltransfersandpartialtransfersoffinancialassets.Iftheoveralltransferoffinancialassetsmeetstheconditionsforderecognition,thedifferencebetweenthefollowingtwoamountsisincludedinthecurrentprofitandloss:
(1)Thebookvalueofthetransferredfinancialassets;
(2)Thesumoftheconsiderationreceivedasaresultofthetransferandthecumulativeamountofchangesinthefairvaluethatweredirectlycreditedtotheowner'sequity(thetransferredfinancialassetisanavailable-for-salefinancialasset).Ifpartialtransferoffinancialassetsmeetstheconditionsforderecognition,theentirebookvalueofthetransferredfinancialassetsisapportionedbetweenthederecognizedpartsandnon-derecognizedpartsaccordingtotheirrelativefairvalues,andthedifferencebetweenthefollowingtwoamountsisincludedinthecurrentprofitandloss:
(1)Thebookvalueofthederecognitionpart;
(2)Thesumoftheconsiderationofthederecognitionpartandtheamountcorrespondingtothederecognitionpartofthecumulativetotalofchangesinfairvaluethatweredirectlycreditedtotheowner'sequity(thetransferredfinancialassetisanavailable-for-salefinancialasset).Ifthetransferoffinancialassetsdoesnotmeettheconditionsforderecognition,thefinancialassetsarecontinuouslyrecognized,andtheconsiderationreceivedisrecognizedasafinancialliability.
4.TerminationrecognitionoffinancialliabilityWherethecurrentobligationofafinancialliabilityhavebeendischargedinwholeorinpart,therecognitionofthefinancialliabilityorpartthereofshallbeterminated;IftheCompanyenteredintoanagreementwithitscreditorstoreplaceitsexistingfinancialliabilitieswiththenewfinancialliability,andthecontracttermsofthenewfinancialliabilitiesandtheexistingfinancialliabilitiesaresubstantiallydifferent,theexistingfinancialliabilitiesshallbeterminatedforrecognitionandthenewonesshallberecognizedatthesametime.Asforsubstantivechangesmadetothecontractterms(inwholeorinpart)oftheexistingfinancialliabilities,theexistingfinancialliabilities(orpartofit)willbeterminatedforrecognition,andthefinancialliabilitiesaftertermrevisionwillberecognizedasanewfinancialliability.Whenafinancialliabilityisderecognizedinwholeorinpart,thedifferencebetweenthebookvalueofthefinancialliabilityderecognizedandtheconsiderationpaid(includingthenon-cashassetstransferredoutorthenewfinancialliabilitiesassumed)isincludedinthecurrentprofitandloss.IftheCompanyrepurchasespartofthefinancialliabilities,theentirebookvalueofthefinancialliabilitieswillbeallocatedontherepurchasedateaccordingtotherelativefairvalueofthecontinuingrecognitionpartandthederecognitionpart.Thedifferencebetweenthebookvalueallocatedtothederecognitionpartandtheconsiderationpaid(includingthetransferrednon-cashassetsorassumednewfinancialliabilities)isincludedinthecurrentprofitandloss.
5.MethodsfordeterminingthefairvalueoffinancialassetsandfinancialliabilitiesForfinancialinstrumentsthathaveanactivemarket,theirfairvaluesaredeterminedbyusingquotesintheactivemarket.Forfinancialinstrumentsthatdonothaveanactivemarket,valuationtechniquesareusedtodeterminetheirfairvalues.Inthevaluation,theCompanyadoptsvaluationtechniquesthatareapplicableunderthecurrentcircumstancesandhavesufficientavailabledataandotherinformationsupport,choosestheinputvaluesconsistentwiththecharacteristicsofassetsorliabilitiesconsideredbymarketparticipantsinthetransactionsofrelatedassetsorliabilities,andprioritizestherelevantobservableinputvalues.TheCompanyusesunobservableinputvaluesonlyiftherelevantobservableinputvaluescannotbeobtainedorarenotpracticable.
6.Testmethodsandaccountingtreatmentmethodsforimpairmentoffinancialassets(excludingreceivables)TheCompanyconsidersallreasonableandevidence-basedinformation,includingforward-lookinginformation,andestimatestheexpectedcreditlossesoffinancialassetsmeasuredatamortizedcostbythesingleorcombinedwayandfinancialassets(debtinstruments)measuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome.Themeasurementofexpectedcreditlossesdependsonwhetherasignificantincreaseincreditriskhasoccurredsincetheinitialrecognitionofafinancialasset.Ifthecreditriskofthefinancialinstrumenthasincreasedsignificantlysinceinitialrecognition,theCompanyshallmeasureitslossprovisionatanamountequivalenttotheexpectedcreditlossthroughoutthelifeofthefinancialinstrument.Ifthecreditriskofthefinancialinstrumenthasnotincreasedsignificantlysinceinitialrecognition,theCompanyshallmeasureitslossprovisionatanamountequivalenttotheexpectedcreditlossofthefinancialinstrumentinthenext12months.Theincreasedorreversedamountofthelossprovisionthusformedshallbeincludedinthecurrentprofitandlossasimpairmentlossesorgains.Usually,theCompanyconsidersthatthecreditriskofthefinancialinstrumenthasincreasedsignificantlywhenitisoverdueformorethan30days,unlessthereisconclusiveevidencethatthecreditriskofthefinancialinstrumenthasnotincreasedsignificantlyafterinitialrecognition.Ifthecreditriskofafinancialinstrumentatthebalancesheetdateislow,theCompanywillconsiderthatthecreditriskofthefinancialinstrumenthasnotincreasedsignificantlysinceinitialrecognition.
(11)Baddebprovisionofaccountreceivable
Regardingaccountreceivables,whetherornotitcontainsasignificantfinancingcomponent,theCompanyalwaysmeasuresitslossprovisionsatanamountequivalenttotheexpectedcreditlossthroughouttheduration,andtheresultingincreaseandreversedamountoflossprovisionsisincludedinthecurrentprofitandlossasimpairmentlossesorgains.Inadditiontoreceivablesthatindividuallyassesscreditrisk,basedontheircreditriskcharacteristics,theyaredividedintodifferentportfolios:
| Item | Accrualratioforaccountreceivable(%) |
| Group1:low-risk | Theportfolioisdeterminedbasedonthesimilarityofcreditriskcharacteristics,theCompanybelieves |
| Item | Accrualratioforaccountreceivable(%) |
| thatthecreditriskofareceivablethathasnotbeenimpairedinasingleassessmentofcreditriskislow,andnoprovisionforbaddebtsismadeunlessthereisevidencethatthecreditriskofacertainreceivableishigh. |
Ifthereisobjectiveevidencethatacertainaccountreceivablehassufferedcreditimpairment,theCompanyshallmakeprovisionforbaddebtsonthataccountreceivableandconfirmtheexpectedcreditloss.
(12)Inventory
1.CategoriesofinventoryInventoryconsistsoffuelsandrawmaterialsetc.
2.ValuationmethodofdeliveredinventoryTheinventoriesareinitiallymeasuredatcost.Whentheinventoryisdelivered,theactualcostofdeliveredinventoryshallbedeterminedbyweightedaveragemethod.
3.BasisfordeterminingthenetrealizablevalueofdifferenttypesofinventoriesOnthebalancesheetday,theinventoryismeasuredbytheloweronebetweenthecostandthenetrealizablevalue.Asthenetrealizablevalueislowerthanthecost,theinventorydepreciationprovisionisaccrued.Thenetrealizablevalueisbalanceoftheestimatedsalepricelesstheestimatedforthcomingcostuponthecompletion,theestimatedsaleexpense,andtherelevanttaxinthedailyactivities.Upontherecognitionofnetrealizablevalueoftheinventory,theconcreteevidenceisbasedonandthepurposeofholdingtheinventoryandtheinfluenceofeventsafterthebalancesheetdayareconsidered.Asfortheinventoryoflargesumandlowerprice,theinventorydepreciationprovisionisaccruedbytheinventorycategories.Asfortheinventoryrelatedtotheproductseriesproducedandsoldinthesamedistrict,ofthesameorsimilarfinaluseorpurposeandimpossibletobeseparatedfromtheotheritems,theprovisionisconsolidatedandaccrued.Theprovisionforotherinventoryisaccruedbythedifferencebetweenthecostandnetrealizablevalue.Upontheaccrualoftheinventorydepreciationprovision,ifthepreviousinfluencefactorsontheinventorydeductiondisappeared,whichresultedinthenetrealizablevaluebeinghigherthanitsbookvalue;theaccrualistransferredbackwithinthepreviousaccrualoftheprovisionandreckonedintothecurrentgain/loss.
4.InventorysystemPerpetualinventorysystemrequired
5.Amortizationmethodoflow-valueconsumablesandpackaging
(1)Low-valueconsumables-onepassmethod
(2)Packaging-onepassmethod
(13)Contractassets
1.ConfirmationmethodsandstandardsofcontractassetsIftheCompanyhastransferredgoodstocustomersandhastherighttoreceiveconsideration,andtherightdependsonfactorsotherthanthetimelapses,itisrecognizedascontractassets.TheCompany'sunconditional(thatis,onlydependingonthetimelapses)righttocollectconsiderationfromcustomersareseparatelylistedasreceivables.
2.DeterminationmethodandaccountingtreatmentmethodofexpectedcreditlossofcontractassetsTheCompany'sdeterminationmethodandaccountingtreatmentmethodfortheexpectedcreditlossofcontractassetsaredetailedinNoteIII/(11)Provisionforbaddebtsofreceivables
(14)Long-termequityinvestment
1.CriteriajudgementforjointcontrolandsignificantinfluenceJointcontrolistheCompany’scontractuallyagreedsharingofcontroloveranarrangement,whichrelevantactivitiesofsucharrangementmustbedecidedbyunanimouslyagreementfrompartieswhosharecontrol.WheretheCompanyandotherjointventuresexercisejointcontrolovertheinvesteeandenjoytherightstothenetassetsoftheinvestee,theinvesteeisajointventureoftheCompany.SignificantinfluenceistherightoftheCompanytoparticipateinthefinancialandoperationdecision-makingofanenterprise,butnottocontrolorjointlycontroltheformulationofsuchpolicieswithotherparties.WheretheCompanyisabletoexertsignificantinfluenceontheinvestee,theinvesteeshallbeajointventureoftheCompany.
2.Determinationofinitialinvestmentcost
(1)Long-termequityinvestmentresultingfromenterprisecombinationEnterprisecombinationunderthesamecontrol:IftheCompanypayscash,transfersnon-cashassetsorassumesdebt,andissuesequitysecuritiesastheconsiderationforthemerger,theshareofthebookvalueoftheowner'sequityofthecombinedpartyintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyonthecombiningdateshallbeusedastheinitialinvestmentcostoflong-termequityinvestment.Ifitispossibletocontroltheinvesteeunderthesamecontrolduetoadditionalinvestments,etc.,theinitialinvestmentcostoflong-termequityinvestmentshallbedeterminedbasedontheshareofthebookvalueofthenetassetsofthecombinedpartyintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyonthemergerdate.Thedifferencebetweentheinitialinvestmentcostofthelong-termequityinvestmentonthemergerdateandthesumofthebookvalueofthelong-termequityinvestmentbeforethemergerplusthebookvalueofthenewsharepaymentconsiderationobtainedonthemergerdateadjuststheequitypremium.Iftheequitypremiumisinsufficienttobeoffset,theretainedearningsshallbeoffset.Businesscombinationnotunderthesamecontrol:TheCompanyusesthecombinationcostdeterminedonthepurchasedateastheinitialinvestmentcostofthelong-termequityinvestment.Ifitispossibletoexercisecontroloveraninvesteethatisnotunderthesamecontrolduetoadditionalinvestments,etc.,thesumofthebookvalueoftheoriginalequityinvestmentplusthenewlyincreasedinvestmentcostisusedastheinitialinvestmentcost
calculatedbythecostmethod.
(2)Long-termequityinvestmentobtainedthroughothermethodsForalong-termequityinvestmentobtainedbypayingcash,theactuallypaidpurchasepriceistakenastheinitialinvestmentcost.Foralong-termequityinvestmentobtainedbyissuingequitysecurities,thefairvalueoftheissuedequitysecuritiesistakenastheinitialinvestmentcost.Onthepremisethatthenon-monetaryassetexchangehascommercialsubstanceandthatthefairvalueoftheassetsswappedinoroutcanbereliablymeasured,theinitialinvestmentcostofthelong-termequityinvestmentswappedinbynon-monetaryassetsexchangeisdeterminedbythefairvalueofassetsswappedoutandtherelevantpayabletaxesandfees,unlessthereisconclusiveevidencethatthefairvalueoftheassetsswappedinismorereliable;fornon-monetaryassetsexchangethatdonotmeettheabovepreconditions,thebookvalueoftheassetsswappedoutandtherelevanttaxesandfeespayableareusedastheinitialinvestmentcostofthelong-termequityinvestmentswappedin.Foralong-termequityinvestmentobtainedthroughdebtrestructuring,itsentryvalueisdeterminedbasedonthefairvalueoftheabandonedcreditor'srightsandothercostssuchastaxesdirectlyattributabletotheasset,andthedifferencebetweenthefairvalueoftheabandonedcreditor'srightsandthebookvalueisincludedinthecurrentprofitandloss.
3.Follow-upmeasurementandgain/lossrecognition
(1)Long-termequityinvestmentmeasuredatcostThelong-termequityinvestmentinsubsidiariesshallbemeasuredatcost.Inadditiontotheactualpricesortheannouncedbutyetundistributedcashdividendorprofitinconsiderationvaluation,thecurrentinvestmentreturnisrecognizedbytheannouncedcashdividendorprofitbytheinvestedunits.
(2)Long-termequityinvestmentmeasuredatequityThelong-termequityinvestmentinassociatedenterpriseandjointventuresshallbemeasuredatcost.Iftheinitialinvestmentcostisgreaterthanthantheshareoffairvalueoftheinvestedentity’sidentifiablenetassets,theinitialinvestmentcostofthelong-termequityinvestmentwillnotbeadjusted;iftheinitialinvestmentcostislessthanthantheshareoffairvalueoftheinvestedentity’sidentifiablenetassets,thedifferenceshallreckonedincurrentgains/losses.TheinvestmentgainandothercomprehensiveincomeshallberecognizedbasedontheCompany’sshareofthenetprofitsorlossesandothercomprehensiveincomemadebytheinvestee,respectively.Meanwhile,thecarryingamountoflong-termequityinvestmentshallbeadjusted.Thecarryingamountoflong-termequityinvestmentshallbereducedbasedontheGroup’sshareofprofitorcashdividenddistributedbytheinvestee.Inrespectoftheothermovementofnetprofitorloss,othercomprehensiveincomeandprofitdistributionofinvestee,thecarryingvalueoflong-termequityinvestmentshallbeadjustedandincludedintheowners’equity.TheCompanyshallrecognizeitsshareoftheinvestee’snetprofitsorlossesbasedonthefairvaluesoftheinvestee’sindividualseparatelyidentifiableassetsatthetimeofacquisition,aftermakingappropriateadjustments
theretoduringtheaccountingperiodandaccordingtotheaccountingpolicyoftheCompany.Duringtheperiodofholdingtheinvestment,theinvesteepreparestheconsolidatedfinancialstatementsbasedonthenetprofit,othercomprehensiveincome,andtheamountattributabletotheinvesteeinchangesinotherowners'equityintheconsolidatedfinancialstatementsforbusinessaccounting.WhentheCompanyconfirmsthatitshouldsharethelossesincurredbytheinvestee,itshallproceedinthefollowingorder.Firstly,writeoffthebookvalueofthelong-termequityinvestment.Secondly,ifthebookvalueofthelong-termequityinvestmentisnotsufficienttooffset,theinvestmentlossshallcontinuetoberecognizedwithinthelimitofthebookvalueoflong-termequitythatsubstantiallyconstitutesanetinvestmentintheinvestee,andoffsetthebookvalueoflong-termreceivables.Finally,aftertheabove-mentionedtreatment,iftheenterprisestillbearsadditionalobligationsasstipulatedintheinvestmentcontractoragreement,theestimatedliabilitiesarerecognizedaccordingtotheestimatedobligationsandincludedinthecurrentinvestmentloss.
(3)Disposaloflong-termequityinvestmentWhendisposingofalong-termequityinvestment,thedifferencebetweenitsbookvalueandtheactualpurchasepriceisincludedinthecurrentprofitandloss.Whendisposingofalong-termequityinvestmentaccountedforbyusingtheequitymethod,usethesamebasisastheinvesteedirectlydisposesofrelatedassetsorliabilities,andmakeaccountingtreatmenttotheportionthatwasoriginallyincludedinothercomprehensiveincomeaccordingtothecorrespondingproportion.Theowner'sequityrecognizedasaresultofchangesinotherowner'sequityoftheinvesteeotherthannetprofitorloss,othercomprehensiveincome,andprofitdistributioniscarriedforwardtothecurrentprofitandlossonaproratabasis,exceptforothercomprehensiveincomearisingfromtheremeasurementofthenetliabilitiesornetassetschangesofthedefinedbenefitplanbytheinvestee.Ifthejointcontrolorsignificantinfluenceontheinvesteeislostduetothedisposalofpartoftheequityinvestment,etc.,theremainingequityafterdisposalshallbecalculatedinaccordancewiththefinancialinstrumentrecognitionandmeasurementstandards,andthedifferencebetweenthefairvalueandthebookvalueonthedayoflosingthejointcontrolorsignificantinfluenceisincludedinthecurrentprofitandloss.Othercomprehensiveincomeoftheoriginalequityinvestmentrecognizedduetousingtheequitymethodforaccountingshalladopttheaccountingtreatmentonthesamebasisastheinvesteedirectlydisposesofrelatedassetsorliabilitieswhenterminatingtheadoptionofequitymethodforaccounting.Theowner'sequityrecognizedasaresultofchangesintheowner'sequityotherthannetprofitorloss,othercomprehensiveincomeandprofitdistributionoftheinvesteeistransferredtocurrentprofitandlosswhenterminatingtheadoptionofequitymethodforaccounting.ThecontrolovertheinvesteeislostduetothedisposalofpartoftheequityinvestmentandthecapitalincreaseinthesubsidiarybyotherinvestorsresultinginadeclineintheshareholdingratiooftheCompany,inpreparingseparatefinancialstatements,theremainingequityinterestwhichcanapplycommoncontrolorimposesignificantinfluenceovertheinvesteeshallbeaccountedforusingequitymethod.Suchremainingequityinterestshallbetreatedasaccountingforusingequitymethodsinceitisobtainedandadjustmentwasmadeaccordingly.Forremainingequityinterestwhichcannotapplycommoncontrolorimposesignificantinfluenceovertheinvesteel,itshallbeaccountedforusingtherecognitionandmeasurementstandardoffinancialinstruments.Thedifferencebetweenitsfairvalueandcarryingamountasatthedateoflosingcontrolshallbeincludedinprofitorlossforthecurrentperiod.
Thedisposedequityisobtainedthroughbusinesscombinationduetoadditionalinvestmentandotherreasons,whenpreparingindividualfinancialstatements,iftheremainingequityafterdisposalusescostmethodorequitymethodforaccounting,theequityinvestmentsheldbeforetheacquisitiondateshallbecarriedforwardinproportiontoothercomprehensiveincomeandotherowner'sequityrecognizedthroughequitymethodaccounting;Fortheremainingequityinterestafterdisposalaccountedforusingtherecognitionandmeasurementstandardoffinancialinstruments,othercomprehensiveincomeandotherowners’equityshallbefullytransferred.
(15)Investmentrealestate
Investmentrealestateisdefinedastherealestatewiththepurposetoearnrentorcapitalappreciationorboth,includingtherentedlanduserightsandthelanduserightswhichareheldandpreparedfortransferafterappreciation,therentedbuildings.(Includingbuildingsforleaseafterself-constructionordevelopmentactivitiescompletedandbuildingsunderconstructionordevelopmentforleaseinthefuture)InvestmentrealestateoftheCompanyaremeasuredatcostmodel.TheInvestmentrealestate-rentalbuildingsmeasuredatcostmodelhasthesamedepreciationpolicyasfixedassets,thelanduserightforleaseisexercisetheamortizationpolicyasintangibleassets.
(16)Fixedassets
1.RecognitionconditionsforthefixedassetsFixedassetsisdefinedasthetangibleassetswhichareheldforthepurposeofproducinggoods,providingservices,leaseorforoperation&management,andhavemorethanonefiscalyearofservicelife.Fixedassetsarerecognizedwhenthefollowingconditionsaresimultaneouslymet:
(1)Theeconomicbenefitswiththefixedassetsconcernedarelikelytoflowintotheenterprise;and
(2)costofthefixedassetscanbemeasuredreliably.
2.DepreciationmethodFromthenextmonthsincereachingtheintendedusestate,depreciationonfixedassetsshallbeaccountedbyusingthemethodofaveragelifelengthexceptthesteamturbinegeneratingunitthataccountedbywithdrawaltheworkingvolumemethod.Lifeexpectancy,expectednetimpairmentvalueandannualdepreciationrateofallassetsareasfollows:
| Category | Depreciationmethod | Depreciationlife(Year) | Residualsrate(%) | Annualdepreciationrate(%) |
| Housesandbuildings | Straight-line | 20-year | 10 | 4.5 |
| Equipment(fuelmachinerysets | Straight-line | 15-20-year | 10 | 4.5-6 |
| Category | Depreciationmethod | Depreciationlife(Year) | Residualsrate(%) | Annualdepreciationrate(%) |
| excluded) | ||||
| Equipment-fuelmachinerysets(Note) | Theworkquantitymethod | 10 | Theworkquantitymethod | |
| Transportationtools | Straight-line | 5-year | 10 | 18 |
| Otherequipment | Straight-line | 5-year | 10 | 18 |
Estimatedsalvagevaluereferstotheamountofvalueretrievedafterdeductingofpredicteddisposalexpensewhentheexpectedusinglifeofafixedassethasexpiredandintheexpectedstateoftermination.Note:gasturbinegeneratorsetisprovidedwithdepreciationunderworkloadmethod,namelytodeterminethedepreciationamountperhourofgasturbinegeneratorsetbasedonequipmentvalue,predictednetremainingvalueandpredictedgenerationhours.Detailsaresetoutasfollows:
| NameoftheCompany | Fixedassets | Depreciationamount(RMB/Hour) |
| TheCompany | Generatingunit1# | 538.33 |
| Generatingunit3# | 601.20 | |
| NewPower | Generatingunit10# | 520.61 |
| ZhongshanElectricPower | Generatingunit1# | 4,246.00 |
| Generatingunit3# | 4,160.83 |
3.RecognitionbasisandmeasurementmethodoffixedassetsunderfinanceleaseLeasesareclassifiedasfinanceleaseswheneverthetermsoftheleasetransfersubstantiallyalltherisksandrewardsofownershiptothelessee.Titlemayormaynoteventuallybetransferred.Thedepreciationpolicyforfixedassetheldunderfinanceleaseisconsistentwiththatforitsownedfixedasset.Whenaleasedassetcanbereasonablydeterminedthatitsownershipwillbetransferredattheendoftheleaseterm,itisdepreciatedovertheperiodofexpecteduse;otherwise,theleasedassetisdepreciatedovertheshorterperiodoftheleasetermandtheperiodofexpecteduse.
4.OtherexplanationConcerningthefollow-upexpensesrelatedtofixedassets,iftherelevanteconomybenefitoffixedassetsprobablyin-flowintotheCompanyandcanbemeasuredreliably,reckonedintocostoffixedassetsandterminatedthe
recognitionofthebookvalueofthepartsthatbeenreplaced.Othersfollow-upexpensesshouldreckonedintocurrentgains/losseswhileoccurred.Terminatedtherecognitionoffixedassetsthatinthestatusofdisposalorpassthroughthepredictedusageorwithoutanyeconomybenefitsarisingfromdisposal.Incomefromtreatmentoffixedassetdisposing,transferring,discardingordamage,thebalanceafterdeductingofbookvalueandrelativetaxesisrecordedintocurrentincomeaccount.TheCompanyre-reviewsusefullife,expectednetresidualvalueanddepreciationmethodoffixedassetsatleastateachyearend.Anychangethereofwouldberecordedaschangeofaccountingestimates.
(17)Constructioninprocess
Costofconstructioninprocessisdeterminedatpracticalconstructionexpenditures,includingallexpensesduringtheconstruction,capitalizedloanexpensesbeforetheconstructionreachesusefulstatus,andotherrelativeexpenses.Itistransferredtofixedassetassoonastheconstructionreachestheusefulstatus.
(18)BorrowingexpensesBorrowingexpensesincludeinterest,amortizationofdiscountsorpremiumsrelatedtoborrowings,ancillarycostsincurredinconnectionwiththearrangementofborrowings,andexchangedifferencesarisingfromforeigncurrencyborrowings.Borrowingexpensesthatcanbedirectlyattributedforpurchasingorconstructionofassetsthatarecomplyingwithcapitalizingconditionsstarttobecapitalizedwhenthepaymentofassetandborrowingexpenseshavealreadyoccurred,andthepurchasingorproductionactivitiesinpurposeofmaketheassetusablehavestarted;Capitalizingwillbeterminatedassoonastheassetthatcomplyingwithcapitalizingconditionshasreacheditsusableorsaleablestatus.Theotherborrowingexpensesarerecognizedasexpenseswhenoccurred.Interestexpensespracticallyoccurredatthecurrenttermofaspecialborrowingarecapitalizedafterdeductingofthebanksavinginterestofunusedborrowedfundorprovisionalinvestmentgains;Capitalizationamountsofcommonborrowingsaredecidedbytheweightedaverageofexceedingpartofaccumulatedassetexpensesoverthespecialborrowingassetsmultiplythecapitalizingrateofcommonborrowingsadopted.Capitalizationratesaredecidedbytheweightedaverageofcommonborrowings.Duringthecapitalizationperiod,exchangedifferencesonaspecificpurposeborrowingdenominatedinforeigncurrencyshallbecapitalized.Exchangedifferencesrelatedtogeneral-purposeborrowingsdenominatedinforeigncurrencyshallbeincludedinprofitorlossforthecurrentperiod.Qualifyingassetsareassets(fixedassets,investmentproperty,inventories,etc.)thatnecessarilytakeasubstantialperiodoftimeforacquisition,constructionorproductiontogetreadyfortheirintendeduseorsale.Capitalizationofborrowingcostsshallbesuspendedduringperiodsinwhichtheacquisition,constructionorproductionofaqualifyingassetisinterruptedabnormally,whentheinterruptionisforacontinuousperiodofmorethan3months,untiltheacquisition,constructionorproductionofthequalifyingassetisresumed.
(19)Intangibleassets
Anintangibleassetisanidentifiablenon-monetaryassetwithoutphysicalsubstanceownedorcontrolledbytheCompany.Anintangibleassetshallbeinitiallymeasuredatcost.TheexpendituresincurredonanintangibleassetshallberecognizedascostoftheintangibleassetonlyifitisprobablethateconomicbenefitsassociatedwiththeassetwillflowtotheCompanyandthecostoftheassetcanbemeasuredreliably.Otherexpendituresonanitemassetshallbechargedtoprofitorlosswhenincurred.Landuserightacquiredshallnormallyberecognizedasanintangibleasset.Self-constructedbuildings(e.g.plants),relatedlanduserightandthebuildingsshallbeseparatelyaccountedforasanintangibleassetandfixedasset.Forbuildingsandstructurespurchased,thepurchaseconsiderationshallbeallocatedamongthelanduserightandthebuildingsonareasonablebasis.Incasethereisdifficultyinmakingareasonableallocation,theconsiderationshallberecognizedinfullasfixedassets.Anintangibleassetwithafiniteusefullifeshallbestatedatcostlessestimatednetresidualvalueandanyaccumulatedimpairmentlossprovisionandamortizedusingthestraight-linemethodoveritsusefullifewhentheassetisavailableforuse.Intangibleassetswithindefinitelifearenotamortized.TheGroupshallreviewtheusefullifeofintangibleassetwithafiniteusefullifeandtheamortizationmethodappliedatleastateachfinancialyear-end.Achangeintheusefullifeoramortizationmethodusedshallbeaccountedforasachangeinaccountingestimate.Foranintangibleassetwithanindefiniteusefullife,theGroupshallreviewtheusefullifeoftheassetineachaccountingperiod.Ifthereisevidenceindicatingthattheusefullifeofthatintangibleassetisfinite,theCompanyshallestimatetheusefullifeofthatassetandapplytheaccountingpoliciesaccordingly.
(20)Impairmentoflong-termassets
TheGroupwilljudgeifthereisanyindicationofimpairmentasatthebalancesheetdateinrespectofnon-currentnon-financialassetssuchasfixedassets,constructioninprocess,intangibleassetswithaninfiniteusefullife,investmentpropertiesmeasuredatcost,andlong-termequityinvestmentsinsubsidiaries,jointventuresandassociates.Ifthereisanyevidenceindicatingthatanassetmaybeimpaired,recoverableamountshallbeestimatedforimpairmenttest.Goodwill,intangibleassetswithanindefiniteusefullifeandintangibleassetsbeyondworkingconditionswillbetestedforimpairmentannually,regardlessofwhetherthereisanyindicationofimpairment.Iftheimpairmenttestresultshowsthattherecoverableamountofanassetislessthanitscarryingamount,theimpairmentprovisionwillbemadeaccordingtothedifferenceandrecognizedasanimpairmentloss.Therecoverableamountofanassetisthehigherofitsfairvaluelesscostsofdisposalandthepresentvalueofthefuturecashflowsexpectedtobederivedfromtheasset.Anasset’sfairvalueisthepriceinasaleagreementinanarm’slengthtransaction.Ifthereisnosaleagreementbuttheassetistradedinanactivemarket,fairvalueshallbedeterminedbasedonthebidprice.Ifthereisneithersaleagreementnoractivemarketforanasset,fairvalueshallbebasedonthebestavailableinformation.Costsofdisposalareexpensesattributabletodisposaloftheasset,
includinglegalfee,relevanttaxandsurcharges,transportationfeeanddirectexpensesincurredtopreparetheassetforitsintendedsale.Thepresentvalueofthefuturecashflowsexpectedtobederivedfromtheassetoverthecourseofcontinueduseandfinaldisposalisdeterminedastheamountdiscountedusinganappropriatelyselecteddiscountrate.Provisionsforassetsimpairmentshallbemadeandrecognizedfortheindividualasset.Ifitisnotpossibletoestimatetherecoverableamountoftheindividualasset,theGroupshalldeterminetherecoverableamountoftheassetgrouptowhichtheassetbelongs.Theassetgroupisthesmallestgroupofassetscapableofgeneratingcashflowsindependently.Forthepurposeofimpairmenttesting,thecarryingamountofgoodwillpresentedseparatelyinthefinancialstatementsshallbeallocatedtotheassetgroupsorgroupofassetsbenefitingfromsynergyofbusinesscombination.Iftherecoverableamountislessthanthecarryingamount,theGroupshallrecognizeanimpairmentloss.Theamountofimpairmentlossshallfirstreducethecarryingamountofanygoodwillallocatedtotheassetgrouporsetofassetgroups,andthenreducethecarryingamountofotherassets(otherthangoodwill)withintheassetgrouporsetofassetgroups,prorataonthebasisofthecarryingamountofeachasset.Onceanimpairmentlossoftheseassetsisrecognized,itisnotallowedtobereversedevenifthevaluecanberecoveredinsubsequentperiod.
(21)Long-termunamortizedexpenses
Long-termunamortizedexpensesarethosealreadyoccurredandamortizabletothecurrenttermandsuccessivetermsforoveroneyear.Long-termamortizableexpensesareamortizedbystraight-linemethodtothebenefitperiod.
(22)Contractliabilities
1.ConfirmationmethodofcontractliabilitiesTheCompany'sobligationtotransfergoodsorprovideservicestocustomersforconsiderationreceivedorreceivablefromcustomersislistedascontractliabilities.
(23)Staffremuneration
Staffremunerationincludesshorttermstaffremuneration,postofficebenefit,dismissalbenefitandotherlongtermstaffbenefits,amongwhich:
Shorttermstaffremunerationmainlyconsistsofsalary,bonus,allowanceandsubsidy,staffbenefits,medicalinsurance,maternityinsurance,workrelatedinjuryinsurance,housingfunds,laborunitfeeandeducationfee,non-monetarybenefits,etc.shorttermstaffremunerationactuallyhappenedduringtheaccountingperiodinwhichstaffprovidesservicestotheCompanyisrecognizedasliability,andshallbeincludedincurrentgainsandlossesorrelevantassetcost.Non-monetarybenefitsaremeasuredatfairvalue.Postofficebenefitsmainlyconsistofdefinedwithdrawplananddefinedbenefitplan.Definedwithdrawplanmainlyincludesbasicpensioninsurance,unemploymentinsuranceandannuity,andthecontributionpayableisincludedinrelevantassetcostorcurrentgainsandlosseswhenoccurs.
WhentheCompanyterminatestheemploymentrelationshipwithemployeesbeforetheendoftheemploymentcontractsorprovidescompensationasanoffertoencourageemployeestoacceptvoluntaryredundancy,theCompanyshallrecognizeemployeecompensationliabilitiesarisingfromcompensationforstaffdismissalandincludedinprofitorlossforthecurrentperiod,whentheCompanycannotrevokeunilaterallycompensationfordismissalduetothecancellationoflaborrelationshipplansandemployeeredundantproposals;andtheCompanyrecognizecostandexpensesrelatedtopaymentofcompensationfordismissalandrestructuring,whicheverisearlier.However,ifthecompensationforterminationofemploymentisnotexpectedtobefullypaidwithin12monthsfromthereportingperiod,itshallbeaccountedforotherlong-termstaffremuneration.Theearlyretirementplanshallbeaccountedforinaccordancewiththeaccountingprinciplesforcompensationforterminationofemployment.Thesalariesorwagesandthesocialcontributionstobepaidfortheemployeeswhoretirebeforeschedulefromthedateonwhichtheemployeesstoprenderingservicestothescheduledretirementdate,shallberecognized(ascompensationforterminationofemployment)inthecurrentprofitorlossbytheGroupiftherecognitionprinciplesforprovisionsaresatisfied.Forotherlong-termemployeebenefitsprovidedbytheCompanytoitsemployees,ifsatisfywiththeestablishedwithdrawplan,thenthebenefitsareaccountedforundertheestablishedwithdrawplan,otherwiseaccountedforunderdefinedbenefitscheme.
(24)Accrualliability
1.Recognitioncriteria
Theobligationswithcontingenciesconcernedaslitigation,debtguaranteeandcontractinlossarerecognizedasaccrualliabilitywhenthefollowingconditionsaremetsimultaneously:
(1)theliabilityisthecurrentliabilitythatundertakenbytheCompany;
(2)theliabilityhastheprobabilityofresultinfinancialbenefitoutflow;and
(3)theresponsibilitycanbemeasuredreliablyforitsvalue.MeasurementonvaryaccrualliabilityAtbalancesheetday,withreferencetotherisks,uncertaintyandperiodicvalueofcurrencythatconnectedtothecontingentissues,thepredictedliabilitiesaremeasuredaccordingtothebestestimationonthepaymenttofulfillthecurrentresponsibility.Iftheexpensesforclearingofpredictiveliabilityisfullyorpartiallycompensatedbyathirdparty,andthecompensatedamountcanbedefinitelyreceived,itisrecognizedseparatedasasset.Thecompensatedamountshallnotbegreaterthanthebookvalueofthepredictiveliability.
(1)ContactinlossContactinlossisidentifiedwhentheinevitablecostforperformanceofthecontractualobligationexceedstheinflowofexpectedeconomicbenefits.Whenacontractinlossisidentifiedandtheobligationsthereunderarequalifiedbytheaforesaidrecognitioncriterionforcontingentliability,thedifferenceofestimatedlossunder
contractovertherecognizedimpairmentloss(ifany)ofthesubjectmatterofthecontractisrecognizedascontingentliability.
(2)RestructuringobligationsFordetailed,officialandpubliclyannouncedrestructuringplan,thedirectexpensesattributabletotherestructuringarerecognizedascontingentliabilities,providedthattheaforesaidrecognitioncriterionforcontingentliabilityismet.Forrestructuringobligationsarisingfromdisposalofpartbusiness,theCompanywillrecognizetheobligationsrelatingtorestructuringonlywhenitundertakestodisposepartbusiness(namelyenteringintofinalizeddisposalagreement).
(25)Revenue
TheCompany’srevenueisrecognizedafterithasfulfilledtheperformanceobligationsinthecontract,thatis,whenthecustomerobtainscontroloftherelevantassets(goodsorservices).Whethertheperformanceobligationisfulfilledwithinacertainperiodoftimeoratacertaintimepointdependsonthetermsofthecontractandrelevantlegalprovisions.IftheCompanymeetsoneofthefollowingconditions,itbelongstotheperformanceobligationwithinacertainperiodoftime:
1.ThecustomerobtainsandconsumestheeconomicbenefitsbroughtbytheCompany'sperformancewhentheCompanyfulfillsitsperformance.
2.TheclientcancontroltheassetsunderconstructionduringtheperformanceoftheCompany.
3.TheassetsproducedbytheCompanyduringtheperformancehaveirreplaceableuses,andtheCompanyhastherighttocollectpaymentforthecumulativeperformancethathasbeencompletedsofarduringtheentirecontractperiod.Iftheperformanceobligationisperformedwithinacertainperiodoftime,theCompanyrecognizesrevenueaccordingtotheperformanceprogress.Otherwise,theCompanyrecognizesrevenueatacertainpointwhenthecustomerobtainscontroloftherelevantassets.TheperformanceprogressismeasuredbytheCompany'sexpenditureorinvestmentinfulfillingtheperformanceobligations,andtheprogressisdeterminedbasedontheproportionofthecumulativecostincurredasofthebalancesheetdateofeachcontracttotheestimatedtotalcost.Whendeterminingthecontracttransactionprice,ifthereisavariableconsideration,theCompanyshalldeterminethebestestimateofthevariableconsiderationbasedontheexpectedvalueorthemostlikelyamount,andtheamountthatdoesnotexceedthecumulativelyrecognizedrevenuewhentherelevantuncertaintyiseliminatedandthatisverylikelynottohavesignificantreversalisincludedinthetransactionprice.Ifthereisamajorfinancingcomponentinthecontract,theCompanywilladjustthetransactionpriceaccordingtothefinancingcomponentinthecontract;iftheintervalbetweenthetransferofcontrolandthepaymentbythecustomerislessthanoneyear,theCompanywillnotconsiderthefinancingcomponent.Detailrecognitionaccordingtospecificrevenue:
1.PowermarketingrevenueTheGroupgenerateselectricitybythermalpower,andrealizessalesthroughincorporationintoGuangdongpowergrid.Asforpowersales,theGrouprealizesrevenuewhenitproduceselectricityandobtainsthegridpowerstatisticstableconfirmedbythepowerbureau.
2.SpecificcriteriaforrevenuerecognitionoftheEnvironmentProtectionCompanyAttheendofeachmonth,thecompanyconfirmsthemonthlyincomebasedontheinitiallyconfirmedsludgetransportationvolumeandsludgetreatmentprice,andrevisestherevenueconfirmedlastmonthaftercheckingwiththerelevantunitsinthenextmonth,andthecorrectionproportionisrelativelysmall.
3.SpecificcriteriaforrevenuerecognitionoftheEngineeringCompany
(1)Debuggingprojects:Whenthedebuggingissuccessful,obtaintheconfirmationofsuccessfuldebugging,andconfirmtheincomeaccordingtothecontract;
(2)Operationandmaintenanceandmanagementprojects:Temporarilyestimateandconfirmtheincomeeverymonthaccordingtotheattendancetimeandlaborservicepriceofattendancestaff,andadjustthetemporarilyestimatedincomeafterobtainingthemonthlysettlementstatementsealedandsignedbysuppliers,theconfirmationofprogress,andtheattendanceform.
(26)Contractcosts
Contractcostsaredividedintocontractperformancecostsandcontractacquisitioncosts.ThecostincurredbytheCompanytoperformthecontractisrecognizedasanassetasthecontractperformancecostwhenmeetingthefollowingconditions:
1.Thecostisdirectlyrelatedtoacurrentorexpectedcontract.
2.ThecostincreasestheCompany'sfutureresourcesforfulfillingcontractperformanceobligations.
3.Thecostisexpectedtoberecovered.TheincrementalcostincurredbytheCompanyforobtainingthecontractisexpectedtoberecovered,anditisrecognizedasanassetasthecostofobtainingthecontract.Assetsrelatedtocontractcostsareamortizedonthesamebasisastherevenueofgoodsorservicesrelatedtotheasset;however,iftheamortizationperiodofcontractacquisitioncostsdoesnotexceedoneyear,theCompanywillincludetheminthecurrentprofitsandlosseswhentheyoccur.Ifthebookvalueofassetsrelatedtocontractcostsishigherthanthedifferencebetweenthefollowingtwoitems,theCompanywillmakeprovisionsforimpairmentfortheexcesspartandrecognizeitasanassetimpairmentloss:
1.Theremainingconsiderationexpectedtobeobtainedduetothetransferofgoodsorservicesrelatedtotheasset;
2.Costsestimatedtoincurforthetransferoftherelatedgoodsorservices.Iftheaforementionedassetimpairmentprovisionissubsequentlyreversed,thebookvalueoftheassetafterreversalshallnotexceedthebookvalueoftheassetonthedateofreversalundertheassumptionthatnoimpairmentprovisionismade.
(27)GovernmentsubsidyGovernmentsubsidyreferstothemonetaryassetandnon-monetaryassetthattheCompanyobtainsfromthegovernmentfreeofcharge,excludingthecapitalthatthegovernmentinvestsasaninvestorandenjoysthecorrespondingowner'sequity.Governmentsubsidiesaredividedintotheasset-relatedgovernmentsubsidyandthe
income-relatedgovernmentsubsidy.Ifthegovernmentsubsidyisamonetaryasset,itshallbemeasuredaccordingtothereceivedorreceivableamount.Ifthegovernmentsubsidyisanon-monetaryasset,itshallbemeasuredatfairvalue.Ifthefairvaluecannotbeobtainedreliably,itshallbemeasuredaccordingtothenominalamount.Governmentsubsidymeasuredbynominalamountisdirectlyincludedinthecurrentprofitsandlosses.Thegovernmentsubsidyrelatedtotheassetsisrecognizedasdeferredincomeandisrecordedintothecurrentprofitsandlossesorthebookvalueoftherelevantassetsinareasonableandsystematicmannerwithintheusefullifeoftherelevantassets.Revenue-relatedgovernmentgrantsareusedtocompensatefortherelatedcostsorlossesincurredduringthesubsequentperiodandarerecognizedasdeferredincomeandarerecognizedinthecurrentprofitorlossorrelatedexpensesduringtheperiodofrecognitionoftherelevantcostexpenseorloss;Incurredcostsorlossesincurred,directlyincludedinthecurrentprofitsandlossesoroffsettherelevantcosts.Forthegovernmentsubsidycontainingbothasset-relatedpartsandincome-relatedpartsatthesametime,distinguishthedifferentpartsandmaketheaccountingtreatment,classifythepartswhicharedifficulttobedistinguishedastheincome-relatedgovernmentsubsidy.ThegovernmentsubsidyrelatedtotheCompany’sdailyactivitiesisincludedinotherincomesoroffsetsrelatedcostsinaccordancewiththeessenceofeconomicbusiness;whilethegovernmentsubsidyunrelatedtotheCompany’sdailyactivitiesisincludedinnon-operatingincomeandexpenditure.Whentherecognizedgovernmentsubsidyneedstoberefundedorhasbalanceofrelateddeferredincome,offsetthebookbalanceofrelateddeferredincome,andincludetheexcesspartsinthecurrentprofitsandlossesor(theasset-relatedgovernmentsubsidyforoffsettingthebookvalueofunderlyingassetsininitialrecognition)adjustthebookvalueofassets;directlyincludethesebelongtoothersituationsinthecurrentprofitsandlosses.
(28)Deferredincometaxasset/deferredincometaxliability
1.CurrentincometaxOnbalancesheetdate,currentincometaxliability(orasset)formedduringandbeforecurrentperiodwillbemeasuredasamountofincometaxpayable(orrepayable)asspecifiedbytaxlaw.Thetaxableincomeforcalculatingthecurrentincometaxexpensesisbasedonthepre-taxaccountingprofitofthecurrentyearafteradjustmentaccordingtorelevantregulationsoftaxation.
2.Deferredincometaxasset&deferredincometaxliabilityForbalanceofbookvalueofsomeasset/liabilityitemanditstaxbase,ortemporarydifferencederivedfrombalanceofbookvalueandtaxbaseoftheitem,whichisnotconfirmedasassetorliabilitybuttaxbasecanbefixedasspecifiedbytaxlaw,deferredincometaxasset&deferredincometaxliabilitywillbeconfirmedinbalancesheetliabilityapproach.Deferredincometaxliabilitiesarenotrecognizedfortaxabletemporarydifferencesrelatedto:theinitial
recognitionofgoodwill;andtheinitialrecognitionofanassetorliabilityinatransactionwhichisneitherabusinesscombinationnoraffectsaccountingprofitortaxableprofit(ordeductibleloss)atthetimeofthetransaction.Inaddition,theGrouprecognizesthecorrespondingdeferredincometaxliabilityfortaxabletemporarydifferencesassociatedwithinvestmentsinsubsidiaries,associatesandjointventures,exceptwhenbothofthefollowingconditionsaresatisfied:theCompanyabletocontrolthetimingofthereversalofthetemporarydifference;anditisprobablethatthetemporarydifferencewillnotreverseintheforeseeablefuture.Deferredincometaxassetsarenotrecognizedfordeductibletemporarydifferencesrelatedtotheinitialrecognitionofanassetorliabilityinatransactionwhichisneitherabusinesscombinationnoraffectsaccountingprofitortaxableprofit(ordeductibleloss)atthetimeofthetransaction.Inaddition,theGrouprecognizesthecorrespondingdeferredincometaxassetfordeductibletemporarydifferencesassociatedwithinvestmentsinsubsidiaries,associatesandjointventurestotheextentthatitisprobablethattaxableprofitswillbeavailableagainstwhichthedeductibletemporarydifferencescanbeutilized,exceptwhenbothofthefollowingconditionsaresatisfied:itisnotprobablethatthetemporarydifferencewillreverseintheforeseeablefuture;anditisnotprobablethattaxableprofitswillbeavailableinthefuture,againstwhichthetemporarydifferencecanbeutilized.Fordeductiblelossandtaxationdecreasewhichcanbecarriedovertofollowingfiscalyear,relevantdeferredincometaxassetmaybeconfirmedsubjecttoamountoftaxableincomewhichislikelytobeacquiredtodeductdeductiblelossandtaxationdecreaseinthefuture.Onbalancesheetday,thosedeferredincometaxassetsandincometaxliabilities,accordingtothetaxlaw,calculationwillbeontaxrateapplicabletoretrievingperiodofassetsorclearingofliabilities.Onbalancesheetday,verificationwillbeperformedonthebookvalueofdifferedincometaxassets.Ifitisnotpossibletoobtainenoughtaxableincometoneutralizethebenefitofdifferedincometaxassets,thenthebookvalueofthedifferedincometaxassetsshallbereduced.Wheneverobtainingoftaxableincomebecamepossible,thereducedamountshallberestored.
3.IncometaxexpensesIncometaxexpenseincludescurrentincometaxanddeferredincometax.Currentdeferredincometaxanddeferredincometaxexpensesorincomeshallreckonedintocurrentgains/lossesotherthatthosecurrentincometaxanddeferredincometaxwithtransactionsandeventsconcerned,thatreckonedintoshareholder’sequitydirectlywhilerecognizedasothercomprehensiveincome;andthebookvalueofthegoodwilladjustedfordeferredincometaxarisingfromenterprisecombination.
4.OffsetofincometaxWhentheGrouphasalegalrighttosettleonanetbasisandintendseithertosettleonanetbasisortorealizetheassetsandsettletheliabilitiessimultaneously,currenttaxassetsandcurrenttaxliabilitiesareoffsetandpresentedonanetbasis.WhentheGrouphasalegalrighttosettlecurrenttaxassetsandliabilitiesonanetbasis,anddeferredtaxassetsanddeferredtaxliabilitiesrelatetoincometaxesleviedbythesametaxationauthorityoneitherthesametaxableentityordifferenttaxableentitieswhichintendeithertosettlecurrenttaxassetsandliabilitiesonanetbasisortorealizetheassetsandliabilitiessimultaneously,ineachfutureperiodinwhichsignificantamountsofdeferredtaxassetsorliabilitiesareexpectedtobereversed,deferredtaxassetsanddeferredtaxliabilitiesareoffsetandpresentedonanetbasis.
(29)Leasing
Financeleaseistovirtuallytransferallrisksandrewardsrelatedtoownershipofasset,theownershipismaytransferultimatelyornot.Leasesotherthanfinanceleaseareoperatingleases.
1.LeasebusinesswiththeCompanyastherenteeTherentalisreckonedintotherelevantassetscostorthecurrentloss/gaininthestraight-linemethod.Theinitialdirectexpensesarereckonedintothecurrentgain/loss,ortheactualrentalintothecurrentloss/gain.
2.LeasebusinesswiththeCompanyastherenterTherentalisreckonedintotherelevantassetscostorthecurrentloss/gaininthelinearway.Theinitialdirectsubstantiveexpensesarecapitalizedandreckonedintothecurrentgain/loss,ortheactualrentalintothecurrentloss/gain.Theinitialdirectsmallexpensesarereckonedintothecurrentactualgain/loss,ortheactualrentalintothecurrentloss/gain.
3.FinancingleasebusinesswiththeGrouprecordedaslesseeOnthebeginningdateofthelease,theentryvalueofleasedassetshallbeatthelowerofthefairvalueoftheleasedassetandthepresentvalueofminimumleasepaymentatthebeginningdateofthelease.Minimumleasepaymentshallbetheentryvalueoflong-termaccountspayable,withdifferencerecognizedasunrecognizedfinancingexpenses.Inaddition,initialdirectcostsattributabletoleaseditemsincurredduringtheprocessofleasenegotiationandsigningofleaseagreementshallbeincludedinthevalueofleasedassets.Thebalanceofminimumleasepaymentafterdeductingunrecognizedfinancingexpensesshallbeaccountedforlong-termliabilityandlong-termliabilityduewithinoneyear.Unrecognizedfinancingexpensesshallberecognizedasfinancingexpensesforthecurrentperiodusingeffectiveinterestmethodduringtheleasingperiod.Contingentrentshallbeincludedinprofitorlossforthecurrentperiodatthetimeitincurred.
4.FinancingleasebusinesswiththeGrouprecordedaslessorOnthebeginningdateofthelease,theentryvalueofleasereceivableshallbetheaggregateofminimumleasereceivableandinitialdirectcostsatthebeginningdateofthelease.Theunsecuredbalanceshallberecorded.Theaggregateofminimumleasereceivable,initialdirectcostsandunsecuredbalanceandthedifferentbetweentheirpresentvalueshallberecognizedasunrealizedfinancingincome.Thebalanceofleasereceivableafterdeductingunrecognizedfinancingincomeshallbeaccountedforlong-termdebtandlong-termdebtduewithinoneyear.Unrecognizedfinancingincomeshallberecognizedasfinancingincomeforthecurrentperiodusingeffectiveinterestmethodduringtheleasingperiod.Contingentrentshallbeincludedinprofitorlossforthecurrentperiod
(30)Othermajoraccountingpoliciesandestimations
Thediscontinuedoperationreferstothecomponentthatmeetsoneoffollowingconditionsandhasbeendisposed
bytheCompanyorclassifiedasheld-for-saleandcanbeindividuallydistinguishedwhenoperatingandpreparingthefinancialstatements:1-thecomponentrepresentsanindependentmainBusinessoramajoroperatingarea;2-thecomponentisapartsthatintendstodisposeorarrangeanindependentmainbusinessoramajoroperatingarea;3-thecomponentisasubsidiaryobtainedonlyforre-sale.
(31)Changesofmajoraccountingpolicyandaccountingestimation
1.ChangeofmajoraccountingpoliciesTheAccountingStandardsforBusinessEnterprisesNo.14-RevenuewasrevisedbyMinistryofFinancein2017.InaccordancewiththeRevisedStandard,thecumulativeimpactofthefirstimplementationofthestandardisadjustedfortheamountofretainedearningsandotherrelateditemsinthefinancialstatementsatthebeginningofthefirstimplementationperiod(January1,2020),andnoadjustmentismadetothecomparableperiodinformation.Maininfluencewhileexercisingtheaboveprovisionareas:
| Content/causesforthechangesofaccountingpolicies | Approvalprocedures | Note |
| TheCompanyimplementedtheAccountingStandardsforBusinessEnterprisesNo.14-RevenuerevisedbyMinistryofFinancein2017since1Jan.2020 | Deliberatedandapprovedby6thsessionof8thBOD | Nosignificantinfluence |
2.ChangeofaccountingestimationNochangeofaccountingestimationoccurredinthereportingperiod
(32)Majoraccountingjudgmentandestimation
Whenusingtheaccountingpolicies,theCompanyneedstomadejudgment,estimationandassumptionforcarryingvalueofcertainitemswhichcannotbemeasuredadequatelyduetoinherentuncertaintyofeconomicactivities.Suchjudgment,estimationandassumptionarebasedonhistoricalexperiencesoftheGroup’smanagement,togetherwithconsiderationofotherrelevantfactors.Thesejudgments,estimationsandassumptionwouldaffectthereportedamountofincome,expense,assetandliabilityanddisclosureofcontingentliabilitiesonbalancesheetdate.However,actualresultsresultingfromtheuncertaintyoftheseestimatesmaydifferfromthecurrentestimationmadebymanagementoftheCompany,whichwouldinturnleadtomaterialadjustmentstothecarryingvalueofassetsorliabilitieswhichwillbeaffectedinfuture.TheGroupconductsregularre-reviewontheaforesaidjudgment,estimationandassumptiononacontinuedoperationbasis.Ifthechangeofaccountingestimationonlyaffectcurrentperiod,theaffectedamountisrecognizedintheperiodwhenchangeoccurs.Ifthechangeaffectscurrentandfutureperiodsboth,theaffectedamountisrecognizedintheperiodwhenchangeoccursandfutureperiods.Onbalancesheetdate,majoraspectsinthestatementneedtojudge,estimateandconsumptionbytheCompanyareas:
1.FixedassetsareprovidedfordepreciationbyoutputmethodTheGrouprecognizesdepreciationforunitelectricitybasedonvaluesofpowergenerationmachinesets,projectedpowersalesvolumeandprojectednetremainingvalue,andprovidesfordepreciationaccordingtodepreciationof
unitelectricityandactualpowersalesvolume.Takingintoaccounttheprevailingindustrypolicies,technologies,consumption,allocationmethodofpowermanagementauthoritiesandpastexperiences,andtheGroupmanagementbelievesthatitisadequateforutilizationlifeofsuchpowergenerationmachinesets,projectedpowersalesvolume,projectednetremainingvalueandprovisionmethodfordepreciation.Ifthefutureactualpowersalesvolumedifferssubstantiallyfromtheprojectedone,theGroupwouldmakeadjustmenttounitelectricitydepreciation,whichwouldbringaffectstothedepreciationexpensesincludedinprofitandlossforthecurrentandfutureperiods.
2.ProvisionforbaddebtsTheGroupuseallowancemethodtostatebaddebtlossesaccordingtotheaccountingpoliciesofaccountsreceivable.Impairmentofreceivablesisbasedontheassessmentofthecollectibilityofaccountsreceivable.Identificationofimpairmentofreceivablesrequiresmanagementjudgmentsandestimates.Thedifferencesbetweenactualresultsandtheoriginalestimatewillaffectthebookvalueofaccountsreceivableaswellastherecognitionorreversalofprovisionforbaddebtsintheperiodinwhichtheestimateischanged.
3.AllowanceforinventoriesUndertheaccountingpoliciesofinventoriesandbymeasuringatthelowerofcostandnetrealizablevalue,theGroupmakesallowanceforinventoriesthathavecostshigherthannetrealizablevalueorbecomeobsoleteandslowmoving.Write-downofinventoriestotheirnetrealizablevaluesisbasedonthesalabilityoftheevaluatedinventoryandtheirnetrealizablevalues.Identificationofinventoriesrequiresmanagementtomakejudgmentsandestimatesonthebasisofobtainingconclusiveevidence,andconsideringthepurposeofholdinginventoryandtheeventsafterbalancesheetdate.Thedifferencesbetweenactualresultsandtheoriginalestimatewillaffectthebookvalueofinventoriesaswellastherecognitionorreversalofprovisionforinventoriesintheperiodinwhichtheestimateischanged.
4.Impairmentprovisionforlong-termassetsTheCompanymakesjudgmentoneachbalancesheetdateonwhetherthereisindicationofimpairmentinrespectofnon-currentassetsotherthanfinancialassets.Intangibleassetswithindefiniteusefullifeshallalsobefurthertestedforimpairmentwhenthereisindicationofimpairment,inadditiontotheannualimpairmenttest.Othernon-currentassetsotherthanfinancialassetswouldbetestforimpairmentwhenthereisindicationshowingitscarryingvalueinnotlikelytoberecovered.Impairmentexistswhencarryingvalueofassetorassetsgroupishigherthanrecoverableamount,namelythehigheroffairvaluelessdisposalcostandpresentvalueofexpectedfuturecashflow.Thecalculationofthefairvaluelesscostsofdisposalisbasedonavailabledatafrombindingsalestransactionsinanarm’slengthtransactionofsimilarassetsorobservablemarketpriceslessincrementalcostsfordisposingoftheasset.Inassessingvalueinuse,significantjudgmentsareexercisedovertheasset’sproduction,sellingprice,relatedoperatingexpensesanddiscountratetocalculatethepresentvalue.Allrelevantmaterialswhichcanbeobtainedareusedforestimationoftherecoverableamount,includingtheestimationoftheproduction,sellingpriceandrelatedoperatingexpensesbasedonreasonableandsupportableassumptions.
TheGroupdetermineswhethergoodwillisimpairedatleastonanannualbasis.Thisrequiresanestimationofthevalueinuseofthecash-generatingunitstowhichthegoodwillisallocated.EstimatingthevalueinuserequirestheGrouptomakeanestimateoftheexpectedfuturecashflowsfromthecash-generatingunitsandalsotochooseasuitablediscountrateinordertocalculatethepresentvalueofthosecashflows.
5.DepreciationandamortizationAssetssuchasinvestmentrealestateandintangibleassetsaredepreciatedandamortizedovertheirusefullivesunderstraightlinemethodaftertakingintoaccountresidualvalue.Theestimatedusefullivesoftheassetsareregularlyreviewedtodeterminethedepreciationandamortizationcostschargedineachreportingperiod.Theusefullivesoftheassetsaredeterminedbasedonhistoricalexperienceofsimilarassetsandtheestimatedtechnicalchanges.Iftherehavebeensignificantchangesinthefactorsusedtodeterminethedepreciationoramortization,therateofdepreciationoramortizationisrevisedprospectively.
6.DeferredincometaxassetsDeferredtaxassetsarerecognizedforallunusedtaxlossestotheextentthatitisprobablethattaxableprofitwillbeavailableagainstwhichthelossescanbeutilized.Significantmanagementjudgmentisrequiredtodeterminetheamountofdeferredincometaxassetsthatcanberecognized,baseduponthelikelytimingandleveloffuturetaxableprofitstogetherwithfuturetaxplanningstrategies.
7.AccrualliabilityProvisionforproductqualityguarantee,estimatedonerouscontracts,anddelaydeliverypenaltiesshallberecognizedintermsofcontract,currentknowledgeandhistoricalexperience.IfthecontingenteventhasformedapracticalobligationwhichprobablyresultsinoutflowofeconomicbenefitsfromtheGroup,aprojectedliabilityshallberecognizedonthebasisofthebestestimateoftheexpenditurestosettlerelevantpracticalobligation.Recognitionandmeasurementoftheaccrualliabilitysignificantlyrelyonthemanagement’sjudgmentsinconsiderationoftheassessmentofrelevantrisks,uncertainties,timevalueofmoneyandotherfactorsrelatedtothecontingentevents.Inaddition,theCompanywouldaccrualliabilityforafter-salequalitymaintenancecommitmentprovidedtocustomersinrespectofgoodssold,maintainedandreconstructedbytheCompany.RecentmaintenanceexperienceoftheCompanyhasbeenconsideredwhenprojectingliabilities,whiletherecentmaintenanceexperiencemaynotreflectthefuturemaintenance.Anyincreaseordecreaseofthisprovisionmayaffectprofitorlossforfutureyears.IV.Taxes
(1)Maintaxationandrates
| Taxationitems | Taxationbasis | Taxrate |
| VAT | Calculatetheoutputtaxbasedonthesalesofgoodsandtaxableserviceincomecalculatedaccordingtothetaxlaw,afterdeductingtheinputtaxallowablefordeductioninthecurrentperiod,thedifferenceistheVATpayable. | 6%,9%,10%,11%,13%,16% |
| Taxationitems | Taxationbasis | Taxrate |
| Citymaintenancetax | AccordingtotheactualpaymentofVATandconsumptiontax | 5%,7% |
| Educationsurtax | AccordingtotheactualpaymentofVATandconsumptiontax | 3% |
| Localeducationsurtax | AccordingtotheactualpaymentofVATandconsumptiontax | 2% |
| Enterpriseincometax | Accordingtothetaxableincomeamount | 16.5%,17%,25%,15% |
| Land-usetaxoftown | 2Yuan~8YuanpersquaremeteroftheactualoccupiedarefortheindustriallandlocatedinNanshanDistrict,ShenzhenCity;1YuanpersquaremeteroftheactualoccupiedarefortheindustriallandlocatedinZhongshanCity | |
| LandVAT | TaxbytheValue-addedamountfromtransferringstate-ownedlanduseright,landingconstructionanditsaffiliateswithfoursuper-rateprogressivetaxrate | |
Asforthetaxpayingbodieshavedifferententerpriseincometaxrate,explanationas:
| Taxpayingbody | Rateofincometax |
| TheCompany | 25% |
| NewPowerCompany | 25% |
| EngineeringCompany | 25% |
| ShenzhenServer | 25% |
| EnvironmentProtectionCompany | 15% |
| ZhongshanElectricPower | 25% |
| SingaporeCompany | 17% |
| ShenStorage | 25% |
| Syndisome | 16.5% |
(2)Taxespreferential
1.VAT
| Tax | Nameofthecompany | Relevantregulationandpoliciesbasis | Approvalinstitution | Approvaldocuments | Exemptionrange | Periodofvalidity |
| VAT | EnvironmentProtectionCompany | Noticeon"contentsofproductswithcomprehensiveutilizationofresourcesandvalue-addedtaxprivilegeoflaborservice"(CSNo.[2015]78) | ShenzhenProvincialOffice,SAT(QianhaiSAT) | SQSST[2018]No.:18302 | ResourcecomprehensiveutilizationofVATrefund | 31Aug.2018to31July2022 |
2.Incometax
Accordingtotheannouncement(No.60of2019)oftheMinistryofFinance,theStateAdministrationofTaxation,theNationalDevelopmentandReformCommission,andtheMinistryofEcologicalEnvironment,andtheAnnouncementonIssuesConcerningIncomeTaxPoliciesforThird-PartyEnterprisesEngagedinPollutionPreventionandControloftheMinistryofFinanceandtheStateAdministrationofTaxation,fromJanuary1,2019toDecember31,2021,thecorporateincometaxwillbeleviedatareducedrateof15%oneligiblethird-partyenterprisesengagedinpollutionpreventionandcontrol.TheCompany’ssubordinateEnvironmentProtectionCompanyenjoystheabovepreferentialpolicyandleviescorporateincometaxatarateof15%
V.Annotationoftheitemsinconsolidatefinancialstatement
(1)Monetaryfund
| Item | EndingBalance | Year-endbalanceoflastyear |
| Cashonhand | 65,138.88 | 84,307.60 |
| Banksavings | 467,274,657.16 | 731,339,856.01 |
| Othermonetaryfund | 617,564,170.77 | 41,785,691.23 |
| Total | 1,084,903,966.81 | 773,209,854.84 |
| Including:totalamountsavingaboard | 6,292,429.36 | 6,242,072.77 |
Note:amongtheabovementioned“othermonetaryfund”,therestrictedmonetaryfundincludingcashdepositof0Yuanintotal(on31Dec.2019,therestrictedmonetaryfundincludecashdepositof1,719,853.88Yuan)
(2)Billreceivable
| Item | EndingBalance | Year-endbalanceoflastyear |
| Bankacceptancenote | 2,900,000.00 | 0.00 |
| CommercialAcceptanceNotes | 0.00 | 0.00 |
| Total | 2,900,000.00 | 0.00 |
(3)Accountreceivable
1.Ageanalysis
| Accountage | EndingBalance | Year-endbalanceoflastyear |
| Withinoneyear | 132,034,578.25 | 178,147,691.32 |
| 1to2years | ||
| 2to3years | ||
| Over3years | 5,769,529.84 | 5,769,529.84 |
| Subtotal | 137,804,108.09 | 183,917,221.16 |
| Less:Baddebtprovision | 5,766,640.84 | 5,766,640.84 |
| Total | 132,037,467.25 | 178,150,580.32 |
2.Accordingtoaccrualmethodforbaddebts
| Category | EndingBalance |
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Proportion(%) | Amount | Accrualproportion(%) | ||
| Withsingleprovisionforbaddebts | 5,766,640.84 | 4.18 | 5,766,640.84 | 100.00 | |
| Withbaddebtprovisionaccrualbasedonsimilarcreditriskcharacteristicsofaportfolio | 132,037,467.25 | 95.82 | 132,037,467.25 | ||
| Total | 137,804,108.09 | 100.00 | 5,766,640.84 | 4.18 | 132,037,467.25 |
| Category | Year-endbalanceoflastyear | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Ratio(%) | Amount | Accrualratio(%) | ||
| Withsingleprovisionforbaddebts | 5,766,640.84 | 3.14 | 5,766,640.84 | 100.00 | |
| Withbaddebtprovisionaccrualbasedonsimilarcreditriskcharacteristicsofaportfolio | 178,150,580.32 | 96.86 | 178,150,580.32 | ||
| Total | 183,917,221.16 | 100.00 | 5,766,640.84 | 3.14 | 178,150,580.32 |
Withsingleprovisionforbaddebts:
| Name | EndingBalance | |||
| Bookamount | Baddebtprovision | Accrualproportion(%) | Causes | |
| ShenzhenPetrochemicalProductsBondedTradingCo.,Ltd. | 3,474,613.06 | 3,474,613.06 | 100.00 | Uncollectibleinexcepted |
| ZhongjiConstructionDevelopmentCo., | 1,137,145.51 | 1,137,145.51 | 100.00 | Uncollectibleinexcepted |
| Name | EndingBalance | |||
| Bookamount | Baddebtprovision | Accrualproportion(%) | Causes | |
| Ltd. | ||||
| ShenzhenFuhuadePowerCo.,Ltd | 800,000.00 | 800,000.00 | 100.00 | Uncollectibleinexcepted |
| Other | 354,882.27 | 354,882.27 | 100.00 | Uncollectibleinexcepted |
| Total | 5,766,640.84 | 5,766,640.84 | 100.00 | |
Provisionforbaddebtsbyportfolio：
Provisionbyportfolio：
| Name | Endingbalance | ||
| Accountreceivable | Baddebtprovision | Accrualproportion(%) | |
| Withminorcreditrisk | 132,037,467.25 | 0.00 | |
Recognitionstandardsandspecificationsonprovisionsbyportfolio:
TheaccountreceivablewithprovisionforbaddebtsbyportfoliomainlyreferstotheamountfromGuangdongPowerGridCo.,Ltd.,ShenzhenPowerSupplyBureauCo.,Ltd.andShenzhenWaterBureauetc.,whichhaveminorcreditriskandnoprovisionforbaddebts.
3.Baddebtprovisionaccrualcollectedorswitchback
| Category | Year-endbalanceoflastyear | Currentamountchanged | EndingBalance | ||
| Accrual | Collectedorswitchback | Rewriteorwrite-off | |||
| Withsingleprovisionforbaddebts | 5,766,640.84 | 5,766,640.84 | |||
Thereisnoreceivablewithsignificantrecoveryorreversalamountofbaddebtprovisioninthecurrentperiod.
4.Accountreceivablewithoutactualchargeoffintheperiod
5.Top5receivablesatendingbalancebyarrearspartyTotalperiod-endbalanceoftopfivereceivablesbyarrearspartyamountingto129,063,847.54Yuan,takes93.66percentofthetotalaccountreceivableatperiod-end,baddebtprovisionaccrualcorrespondinglyatperiod-endamountingas0Yuan
6.Noaccountsreceivableterminatedrecognitionduetotransferoffinancialassetsattheend
oftheperiod
(4)Accountpaidinadvance
1.Accountpaidinadvanceclassifiedaccordingtoage
| Age | EndingBalance | Year-endbalanceoflastyear | ||
| Bookbalance | Proportion(%) | Bookbalance | Proportion(%) | |
| Within1year | 28,934,955.72 | 88.09 | 69,896,494.56 | 99.84 |
| 1to2years | 3,820,156.23 | 11.63 | 15,600.00 | 0.02 |
| 2to3years | 32,000.00 | 0.05 | ||
| Over3years | 93,586.94 | 0.28 | 61,586.94 | 0.09 |
| Total | 32,848,698.89 | 100.00 | 70,005,681.50 | 100.00 |
2.Topfiveaccountspaidinadvanceatperiod-endbalancelistedbyobject
| Paidinadvanceto | Bookbalance | Proportionintotalbookbalanceofaccountspaidinadvance(%) |
| GuangdongsalesbranchofCNOOCGasPowerGroupCo.,Ltd. | 22,631,736.13 | 68.90 |
| ShenzhenGasGroupCo.,Ltd. | 3,820,156.23 | 11.63 |
| GuangzhouZikeEnvironmentalProtectionTechnologyCo.,Ltd. | 802,500.00 | 2.44 |
| XinaoEnergyTradingCo.,Ltd. | 351,988.63 | 1.07 |
| YongchengPropertyInsuranceCo.,Ltd.ShenzhenBranch | 161,674.43 | 0.49 |
| Total | 27,768,055.42 | 84.53 |
(5)Otheraccountreceivable
| Item | Bookbalance | Year-endbalanceoflastyear |
| Interestreceivable | ||
| Dividendreceivable | ||
| Otheraccountreceivable | 80,837,116.58 | 32,321,826.94 |
| Total | 80,837,116.58 | 32,321,826.94 |
1.Otheraccountreceivable
(1)Ageanalysis
| Accountage | Bookbalance | Year-endbalanceoflastyear |
| Withinoneyear | 50,107,926.26 | 4,589,653.32 |
| 1to2years | 1,215,311.98 | 1,223,336.54 |
| 2to3years | 2,758,753.80 | 3,414,019.37 |
| Over3years | 58,587,544.98 | 54,927,238.15 |
| Subtotal | 112,669,537.02 | 64,154,247.38 |
| Less:Baddebtprovision | 31,832,420.44 | 31,832,420.44 |
| Total | 80,837,116.58 | 32,321,826.94 |
(2)Bycategory
| Category | Bookbalance | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Proportion(%) | Amount | Accrualproportion(%) | ||
| Withsingleprovisionforbaddebts | 32,525,936.22 | 28.87 | 31,832,420.44 | 97.87 | 693,515.78 |
| Withbaddebtprovisionaccrualbasedonsimilarcreditriskcharacteristicsofaportfolio | 80,143,600.80 | 71.13 | 80,143,600.80 | ||
| Total | 112,669,537.02 | 100.00 | 31,832,420.44 | 28.25 | 80,837,116.58 |
| Category | Year-endbalanceoflastyear | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Proportion(%) | Amount | Accrualproportion(%) | ||
| Withsingleprovisionforbaddebts | 32,525,936.22 | 50.70 | 31,832,420.44 | 97.87 | 693,515.78 |
| Withbaddebtprovision | 31,628,311.16 | 49.30 | 31,628,311.16 | ||
| Category | Year-endbalanceoflastyear | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Proportion(%) | Amount | Accrualproportion(%) | ||
| accrualbasedonsimilarcreditriskcharacteristicsofaportfolio | |||||
| Total | 64,154,247.38 | 100.00 | 31,832,420.44 | 49.62 | 32,321,826.94 |
Withsingleprovisionforbaddebts:
| Name | Bookbalance | |||
| Bookbalance | Baddebtprovision | Accrualratio（%） | Accrualreasons | |
| HuiyangKangtaiIndustrialCompany | 14,311,626.70 | 14,311,626.70 | 100.00 | Un-collectableinexcepted |
| ShandongJinanGenerationEquipmentPlant | 3,560,000.00 | 3,560,000.00 | 100.00 | Un-collectableinexcepted |
| Individualincometax | 2,470,039.76 | 2,470,039.76 | 100.00 | Un-collectableinexcepted |
| Dormitoryamountreceivable | 2,083,698.16 | 1,736,004.16 | 83.31 | Someun-collectableinexcepted |
| Personalreceivables | 7,498,997.87 | 7,498,997.87 | 100.00 | Un-collectableinexcepted |
| Depositreceivable | 1,658,796.73 | 1,312,974.95 | 79.15 | Someun-collectableinexcepted |
| Other | 942,777.00 | 942,777.00 | 100.00 | Un-collectableinexcepted |
| Total | 32,525,936.22 | 31,832,420.44 | 97.87 | |
Provisionforbaddebtsbyportfolio：
Provisionbyportfolio：
| Name | Endingbalance | ||
| Otheraccountreceivable | Baddebtprovision | Accrualproportion(%) | |
| Withminorcreditrisk | 80,143,600.80 | ||
Recognitionstandardsandspecificationsonprovisionsbyportfolio:
TheCompanybelievesthatthecreditriskofotheraccountreceivablewithnoimpairmentinthe
singleassessmentisrelativelylow,noprovisionforbaddebts,unlessthereisanevidencethatacertainotheraccountreceivableisatgreatercreditrisk.
(3)Accrualofbaddebtprovision
| Baddebtprovision | PhasesI | PhasesII | PhasesIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| Balanceatlastyear-end | 31,832,420.44 | 31,832,420.44 | ||
| Bookbalanceofotheraccountreceivableatyear-begin | ||||
| ——TurntophaseII | ||||
| ——TurntophaseIII | ||||
| ——ReturntoPhaseII | ||||
| ——ReturntoPhaseI | ||||
| Currentaccrual | ||||
| Currentswitchback | ||||
| Rewriteintheperiod | ||||
| Write-offintheperiod | ||||
| Otherchanges | ||||
| Bookbalance | 31,832,420.44 | 31,832,420.44 |
(4)Baddebtprovisionaccrualcollectedorswitch-backintheperiod
| Category | Year-endbalanceoflastyear | Currentamountchanged | Bookbalance | ||
| Accrual | Collectedorswitchback | Rewriteorwrite-off | |||
| Baddebtprovisionforotherreceivables | 31,832,420.44 | 31,832,420.44 | |||
(5)Nootheraccountsreceivablethathadactuallywrittenoffintheperiod
(6)Bynature
| Nature | Endingbookbalance | Bookbalanceatlastyear-end |
| Dormitoryreceivables | 2,083,698.16 | 2,083,698.16 |
| Depositreceivable | 8,114,769.72 | 8,114,769.72 |
| Personalreceivables | 10,625,884.03 | 10,625,884.03 |
| Comanagementaccount | 13,243,635.56 | 13,114,012.69 |
| AccountsreceivableofHuidongServer | 8,432,761.42 | 9,060,361.44 |
| Receivablesfromequitytransfer | 44,990,000.00 | - |
| Other | 25,178,788.13 | 21,155,521.34 |
| Total | 112,669,537.02 | 64,154,247.38 |
| Nameofthecompany | Nature | Endingbalance | Age | Proportionintotalperiod-endbalanceofotheraccountreceivable(%) | Period-endbalanceofbaddebtprovision |
| ShenzhenGasGroupCo.,Ltd. | Equitytransfer | 44,990,000.00 | Within1years | 39.93 | |
| HuidongServerHarborComprehensiveDevelopmentCo.,Ltd. | Intercoursefund | 21,676,396.98 | Over3years | 19.24 | |
| HuiyangCountyKangtaiIndustrialCompany | Other | 14,311,626.70 | Over3years | 12.70 | 14,311,626.70 |
| ChinaMachineryEngineeringCorporation | Guaranteemoney | 4,906,822.44 | Within3years | 4.36 | |
| ShandongJinanPowerEquipmentFactory | Other | 3,560,000.00 | Over3years | 3.16 | 3,560,000.00 |
| 89,444,846.12 | 79.39 | 17,871,626.70 |
(8)Noreceivablesinvolvinggovernmentsubsidiesattheendoftheperiod
(9)Nootherreceivablesterminatedrecognitionduetotransferoffinancialassets
(6)Inventory
1.Classification
| Item | EndingBalance | Year-endbalanceoflastyear | ||||
| Bookbalance | Inventoryfallingpricereserves | Bookvalue | Bookbalance | Inventoryfallingpricereserves | Bookvalue | |
| Rawmaterials | 150,562,248.76 | 42,008,350.54 | 108,553,898.22 | 171,828,426.19 | 47,141,982.58 | 124,686,443.61 |
Note:AfterthesaleoftheequityofShenNanDian(Dongguan)WeimeiElectricPowerCo.,Ltd.thisyear,ShenNanDian(Dongguan)WeimeiElectricPowerCo.,Ltd.willnolongerbeincludedinthescopeofconsolidationfromApril30,2020,andtheoriginalassetsandliabilitieshavebeentransferredout.
2.Inventoryfallingpricereserves
| Item | Year-endbalanceoflastyear | Currentincreased | Currentdecreased | EndingBalance | ||
| Accrual | Other | Switch-backorwrite-off | Changesinscopeofconsolidation | |||
| Rawmaterials | 47,141,982.58 | 5,133,632.04 | 42,008,350.54 | |||
3.Accrualbasisforthedepreciationprovisionofinventoryandreasonsofswitch-backorwrite-offintheyear
| Item | Accrualbasis | Reasonsofswitch-back | Reasonsofwrite-off |
| Rawmaterials | Costhigherthenetrealizablevalue | Notapplicable | Sparepartsonsale |
| Item | EndingBalance | OpeningBalance |
| VATinputtaxdeductible | 341,415,281.38 | 349,953,491.34 |
| Enterpriseincometaxpaidinadvance | 6,583,089.98 | 6,583,089.98 |
| Financialproducts | 139,674,162.93 | 86,000,000.00 |
| Item | EndingBalance | OpeningBalance |
| Accrualinterestoftimedeposit | 4,057,800.00 | 2,670,150.01 |
| Other | 30,000.00 | 30,000.00 |
| Total | 491,760,334.29 | 445,236,731.33 |
(8)Long-termequityinvestment
| Theinvestedentity | Year-endbalanceoflastyear | Changes+,- | EndingBalance | Period-endbalanceofdepreciationreserves | |||||||
| Additionalinvestment | Disinvestment | Investmentgains/lossesrecognizedbyequitymethod | Othercomprehensiveincomeadjustment | Otherchangesinequity | Declarationofcashdividendsorprofits | Provisionforimpairment | Other | ||||
| 1.Jointventure | |||||||||||
| HuidongServerHarborComprehensiveDevelopmentCompany(“HuidongServer”forshort) | 14,619,203.03 | -243,622.43 | 14,375,580.60 | ||||||||
| Total | 14,619,203.03 | -243,622.43 | 14,375,580.60 | ||||||||
(9)Otherequityinstrumentinvestment
1.Otherequityinstrumentinvestment
| Item | Bookbalance |
| CPIJiangxiNuclearPowerCompany | 60,615,000.00 |
| ShenzhenPetrochemicalOilBondedTradeCo.,Ltd.-investmentcost | 2,500,000.00 |
| ShenzhenPetrochemicalOilBondedTradeCo.,Ltd.-changeinfairvalue | -2,500,000.00 |
| Total | 60,615,000.00 |
2.Nontradingequityinstrumentinvestment
| Item | Dividendincomerecognizedinthecurrentperiod | Accumulatedgain | Accumulatedloss | Retainedearningstransferredfromothercomprehensiveincome | Designatedastheinvestmentmeasuredatfairvalueandwhosechangesreckonedintoothercomprehensiveincome(explainreasons) | Reasonsofretainedearningstransferredfromothercomprehensiveincome |
| JiangxiNuclearPowerCo.,Ltd. | intentstoholdingforalong-term | |||||
| ShenzhenPetrochemicalOilBondedTradeCo.,Ltd. | -2,500,000.00 | intentstoholdingforalong-term | ||||
| Total | -2,500,000.00 |
(10)Investmentrealestate
1.Investmentrealestatemeasuredatcost
| Item | Houseandbuilding | Landuseright | Constructioninprogress | Total |
| 1.Originalbookvalue | ||||
| (1)Year-endbalanceoflastyear | 9,708,014.96 | 9,708,014.96 | ||
| (2)Currentincreased | ||||
| (3)Currentdecreased | ||||
| (4)EndingBalance | 9,708,014.96 | 9,708,014.96 | ||
| 2.Accumulateddepreciationandaccumulatedamortization | - | |||
| (1)Year-endbalanceoflastyear | 7,306,687.96 | 7,306,687.96 | ||
| (2)Currentincreased | 98,068.80 | 98,068.80 | ||
| —Accrualoramortization | 98,068.80 | 98,068.80 | ||
| (3)Currentdecreased | - | - | ||
| (4)Bookbalance | 7,404,756.76 | 7,404,756.76 | ||
| 3.Depreciationprovision | ||||
| (1)Year-endbalanceoflastyear | ||||
| (2)Currentincreased | ||||
| (3)Currentdecreased | ||||
| (4)Bookbalance | ||||
| 4.Bookvalue | ||||
| (1)Period-endbookvalue | 2,303,258.20 | 2,303,258.20 | ||
| (2)Year-beginbookvalue | 2,401,327.00 | 2,401,327.00 |
(11)Fixedassets
1.Fixedassetsanddisposaloffixedassets
| Item | EndingBalance | Year-endbalanceoflastyear |
| Fixedassets | 954,992,268.00 | 1,381,675,872.68 |
| Disposaloffixedassets | ||
| Total | 954,992,268.00 | 1,381,675,872.68 |
2.Fixedassets
| Item | Houseandbuildings | Machineryequipment | Transportationtools | Otherequipment | Total |
| I.Originalbookvalue | |||||
| 1.Openingbalance | 501,321,101.48 | 4,079,001,987.60 | 16,336,684.19 | 55,807,562.91 | 4,652,467,336.18 |
| 2.Increasedintheyear | 3,270,619.85 | 71,238.94 | 873,334.63 | 4,215,193.42 | |
| (1)Purchase | 823,506.59 | 167,066.26 | 990,572.85 | ||
| (2)Constructioninprogresstransfer-in | 2,447,113.26 | 71,238.94 | 706,268.37 | 3,224,620.57 | |
| (3)Increaseinbusinesscombination | |||||
| 3.Decreasedintheyear | 75,311,278.51 | 912,852,652.58 | 1,677,249.73 | 1,101,001.76 | 990,942,182.58 |
| (1)Disposalorscrapping | 0.00 | 11,100.00 | 11,100.00 | ||
| (2)Reductionofconsolidationscopechanges | 75,311,278.51 | 912,852,652.58 | 1,677,249.73 | 1,089,901.76 | 990,931,082.58 |
| Item | Houseandbuildings | Machineryequipment | Transportationtools | Otherequipment | Total |
| 4.EndingBalance | 426,009,822.97 | 3,169,419,954.87 | 14,730,673.40 | 55,579,895.78 | 3,665,740,347.02 |
| II.Accumulateddepreciation | |||||
| 1.Openingbalance | 308,704,855.95 | 2,768,225,963.03 | 9,246,358.34 | 43,480,376.06 | 3,129,657,553.38 |
| 2.Increasedintheyear | 5,651,134.50 | 18,473,218.63 | 726,108.03 | 954,942.33 | 25,805,403.49 |
| (1)Accrual | 5,651,134.50 | 18,473,218.63 | 726,108.03 | 954,942.33 | 25,805,403.49 |
| 3.Decreasedintheyear | 44,544,371.88 | 505,772,982.44 | 1,268,277.91 | 780,774.36 | 552,366,406.59 |
| (1)Disposalorscrapping | 9,990.00 | 9,990.00 | |||
| (2)Reductionofconsolidationscopechanges | 44,544,371.88 | 505,772,982.44 | 1,268,277.91 | 770,784.36 | 552,356,416.59 |
| 4.Bookbalance | 269,811,618.57 | 2,280,926,199.22 | 8,704,188.46 | 43,654,544.03 | 2,603,096,550.28 |
| III.Impairmentprovision | |||||
| 1.Openingbalance | 14,860,025.13 | 126,273,884.99 | 141,133,910.12 |
| Item | Houseandbuildings | Machineryequipment | Transportationtools | Otherequipment | Total |
| 2.Increasedintheyear | |||||
| (1)Accrual | |||||
| 3.Decreasedintheyear | 5,059,785.83 | 28,422,595.55 | 33,482,381.38 | ||
| (1)Disposalorscrapping | |||||
| (2)Reductionofconsolidationscopechanges | 5,059,785.83 | 28,422,595.55 | 33,482,381.38 | ||
| 4.Bookbalance | 9,800,239.30 | 97,851,289.44 | 107,651,528.74 | ||
| IV.Bookvalue | |||||
| (1)Closingbookvalue | 146,397,965.10 | 790,642,466.21 | 6,026,484.94 | 11,925,351.75 | 954,992,268.00 |
| (2)Openingbookvalue | 177,756,220.40 | 1,184,502,139.58 | 7,090,325.85 | 12,327,186.85 | 1,381,675,872.68 |
3.Idlefixedassetstemporary
| Item | Originalbookvalue | Accumulateddepreciation | Impairmentprovision | Bookvalue | Note |
| Housing&buildings | 127,893,412.10 | 98,010,753.95 | 13,948,439.04 | 15,934,219.11 | |
| Machineryequipment | 523,528,339.27 | 452,630,912.68 | 32,087,951.59 | 38,809,475.00 | |
| Transportationequipment | 256,300.00 | 230,670.00 | 25,630.00 | ||
| Total | 651,678,051.37 | 550,872,336.63 | 46,036,390.63 | 54,769,324.11 |
4.Nofixedassetsacquiredbyfinancinglease
5.Nofixedassetsacquiredbyoperatinglease
6.Fixedassetswithoutpropertyrightscertificate
| Item | Bookvalue | Reasonsforfailingtocompletethepropertyrightscertificate |
| Boosterstation | 3,962,705.44 | Proceduresuncompleted |
| Steamturbineworkshop | 1,437,359.56 | Proceduresuncompleted |
| Chemicalwatertower | 2,363,171.86 | Proceduresuncompleted |
| Treatmentshopforheavyoil | 464,359.97 | Proceduresuncompleted |
| Start-upboilerhouse | 104,559.07 | Proceduresuncompleted |
| Firepumproom | 242,318.01 | Proceduresuncompleted |
| Circulatingwaterpumphouse | 1,520,701.82 | Proceduresuncompleted |
| Comprehensivebuilding | 2,589,240.59 | Proceduresuncompleted |
| Productionandinspectionbuilding | 4,396,371.57 | Proceduresuncompleted |
| Administrativebuilding | 4,520,121.49 | Proceduresuncompleted |
| Mailroomofthemainentrance | 183,112.49 | Proceduresuncompleted |
| Chemicalwatertreatmentworkshop | 232,960.00 | Proceduresuncompleted |
| Coolingtower | 673,259.25 | Proceduresuncompleted |
| Comprehensivebuildingcanteen | 276,091.29 | Proceduresuncompleted |
| Comprehensivebuilding | 443,246.19 | Proceduresuncompleted |
| Total | 23,409,578.60 |
(12)Constructioninprogress
1.ConstructioninprogressandEngineeringmaterials
| Item | EndingBalance | Year-endbalanceoflastyear |
| Constructioninprogress | 60,831,928.29 | 66,474,630.23 |
| Engineeringmaterials | ||
| Total | 60,831,928.29 | 66,474,630.23 |
2.Constructioninprogress
| Item | EndingBalance | Year-endbalanceoflastyear | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Cogeneration | 57,946,875.63 | 57,946,875.63 | 63,151,182.64 | 63,151,182.64 | ||
| OiltoGasWorks | 13,230,574.53 | 13,230,574.53 | 32,871,600.26 | 32,871,600.26 | ||
| Technicalinnovation | 2,217,378.76 | 2,217,378.76 | 3,061,557.07 | 3,061,557.07 | ||
| Other | 667,673.90 | 667,673.90 | 261,890.52 | 261,890.52 | ||
| Total | 74,062,502.82 | 13,230,574.53 | 60,831,928.29 | 99,346,230.49 | 32,871,600.26 | 66,474,630.23 |
3.Changesofsignificantprojectsinconstructionintheyear
| Item | Budget | Openingbalance | Increaseofthisperiod | Transferredfixedassetsinthisperiod | Reductionofconsolidationscopechanges | Otherdecreaseintheperiod | Closingbalance | Proportionofaccumulativeprojectinvestmentinbudget(%) | Projectprogress(%) | Accumulativeamountofcapitalizationofinterest | Including:capitalizationofinterest | Rateofinterestcapitalization(%) | Capitalsources |
| Cogeneration | 60,000,000.00 | 63,151,182.64 | 45,871.71 | 5,250,178.72 | 57,946,875.63 | 96.58 | 6,476,185.46 | Self-raisedandborrowing | |||||
| OiltoGasWorks | 74,400,000.00 | 32,871,600.26 | 19,641,025.73 | 13,230,574.53 | 63.76 | 63.76 | Self-raised | ||||||
| Technicalinnovation | 3,061,557.07 | 1,066,319.79 | 1,910,498.10 | 2,217,378.76 | Notapplicable | Notapplicable | Self-raised | ||||||
| Other | 261,890.52 | 1,719,905.85 | 1,314,122.47 | 667,673.90 | Self-raised | ||||||||
| Total | 134,400,000.00 | 99,346,230.49 | 2,832,097.35 | 3,224,620.57 | 5,250,178.72 | 19,641,025.73 | 74,062,502.82 | 6,476,185.46 |
4.NoaccrualofimpairmentprovisionforConstructioninprogressintheperiod
(13)Intangibleassets
1.Intangibleassets
| Item | Landuseright | Software | Total |
| I.Originalbookvalue | |||
| 1.Openingbalance | 91,355,995.46 | 3,577,588.80 | 94,933,584.26 |
| 2.Increasedintheyear | - | ||
| (1)Purchase | - | - | |
| 3.Decreasedintheyear | 30,542,000.70 | - | 30,542,000.70 |
| (1)Reductionofconsolidationscopechanges | 30,542,000.70 | - | 30,542,000.70 |
| 4.EndingBalance | 60,813,994.76 | 3,577,588.80 | 64,391,583.56 |
| II.Accumulateddepreciation | |||
| 1.Openingbalance | 48,080,331.33 | 3,251,086.49 | 51,331,417.82 |
| 2.Increasedintheyear | 388,916.55 | 97,067.10 | 485,983.65 |
| (1)Accrual | 388,916.55 | 97,067.10 | 485,983.65 |
| 3.Decreasedintheyear | 8,759,936.73 | - | 8,759,936.73 |
| (1)Reductionofconsolidationscopechanges | 8,759,936.73 | - | 8,759,936.73 |
| 4.Bookbalance | 39,709,311.15 | 3,348,153.59 | 43,057,464.74 |
| III.Impairmentprovision | |||
| 1.Openingbalance | - | - | - |
| 2.Increasedintheyear | |||
| (1)Accrual | - | - | - |
| 3.Decreasedintheyear | |||
| (1)Disposal | - | - | - |
| 4.Bookbalance | - | - | - |
| IV.Bookvalue | |||
| (1)Closingbookvalue | 21,104,683.61 | 229,435.21 | 21,334,118.82 |
| (2)Openingbookvalue | 43,275,664.13 | 326,502.31 | 43,602,166.44 |
2.Landuserightswithoutpropertyrightscertificate
| Item | Bookvalue | Reasonsforfailingtocompletethepropertyrightscertificate |
| Landuserightofthewharfandpipegallery | 530,733.25 | Propertyrightscertificateisundergoing |
(14)Long-termdeferredexpenses
| Item | Year-endbalanceoflastyear | Currentincreasedamount | AmortizedinthePeriod | Otherdecrease | Bookbalance |
| Exhibitionhalldecorationamount | 1,174,171.16 | 125,971.38 | 1,048,199.78 |
(15)Deferredincometaxassetsanddeferredincometaxliabilities
1.Deferredincometaxassetswithoutoffsetting
| Item | EndingBalance | Year-endbalanceoflastyear | ||
| Deductibletemporarydifference | Deferredincometaxassets | Deductibletemporarydifference | Deferredincometaxassets | |
| Baddebtprovisionforaccountreceivable | 5,628,573.77 | 1,400,153.44 | 5,628,573.77 | 1,400,153.44 |
| Baddebtprovisionforotherreceivable | 723,585.00 | 180,896.25 | 723,585.00 | 180,896.25 |
| Changesinfairvalueofotherequityinstrumentinvestments | 2,500,000.00 | 625,000.00 | 2,500,000.00 | 625,000.00 |
| Other | ||||
| Total | 8,852,158.77 | 2,206,049.69 | 8,852,158.77 | 2,206,049.69 |
(16)Othernon-currentassets
| Item | EndingBalance | Year-endbalanceoflastyear | ||||
| Bookbalance | Depreciationreserve | Bookvalue | Bookbalance | Depreciationreserve | Bookvalue | |
| ProjectofLNG | 22,882,181.78 | 22,882,181.78 | ||||
| Total | 22,882,181.78 | 22,882,181.78 | ||||
(17)Short-termloans
1.Classification
| Item | EndingBalance | Year-endbalanceoflastyear |
| Guaranteeloans | 300,000,000.00 | |
| Creditloans | 754,233,285.00 | 580,000,000.00 |
| Accruedinterest | 1,246,849.11 | 1,075,378.48 |
| Total | 755,480,134.11 | 881,075,378.48 |
(18)Accountpayable
1.Accountpayable
| Item | EndingBalance | Year-endbalanceoflastyear |
| Materials | 2,854,019.71 | 12,180,417.48 |
| Electricity | 1,884,315.07 | 1,760,985.99 |
| Labor | 6,101,200.00 | 3,102,530.32 |
| Others | 2,521,658.17 | 2,827,168.62 |
| Total | 13,361,192.95 | 19,871,102.41 |
2.Thereisnomajoramountpayablewithoveroneyearageatendoftheperiod
(19)Payrollpayable
1.Payrollpayable
| Item | Year-endbalanceoflastyear | Currentincreased | CurrentDecreased | EndingBalance |
| Short-termremuneration | 54,801,004.42 | 57,502,762.80 | 73,035,130.07 | 39,268,637.15 |
| Post-employment | 407,428.11 | 6,482,783.84 | 5,113,650.54 | 1,776,561.41 |
| Item | Year-endbalanceoflastyear | Currentincreased | CurrentDecreased | EndingBalance |
| welfare-definedcontributionplans | ||||
| SeverancePay | ||||
| Otherwelfareduewithinoneyear | ||||
| Total | 55,208,432.53 | 63,985,546.64 | 78,148,780.61 | 41,045,198.56 |
2.Short-termremuneration
| Item | Year-endbalanceoflastyear | Currentincreased | CurrentDecreased | Bookbalance |
| (1)Wages,bonuses,allowancesandsubsidies | 53,579,116.98 | 44,870,304.70 | 59,821,822.13 | 38,627,599.55 |
| (2)Welfareforworkersandstaff | 63,050.00 | 413,654.74 | 378,393.74 | 98,311.00 |
| (3)Socialinsurance | 199,344.99 | 2,418,356.33 | 2,569,608.69 | 48,092.63 |
| Including:Medicalinsurance | 167,818.74 | 2,351,191.23 | 2,476,620.10 | 42,389.87 |
| Workinjuryinsurance | 13,139.34 | 7,859.44 | 20,962.00 | 36.78 |
| Maternityinsurance | 18,386.91 | 59,305.66 | 72,026.59 | 5,665.98 |
| (4)Housingaccumulationfund | 614,780.58 | 9,085,609.07 | 9,549,296.93 | 151,092.72 |
| (5)Laborunionexpenditureandpersonneleducationexpense | 344,711.87 | 714,837.96 | 716,008.58 | 343,541.25 |
| Total | 54,801,004.42 | 57,502,762.80 | 73,035,130.07 | 39,268,637.15 |
3.Definedcontributionplans
| Item | Year-endbalanceoflastyear | Currentincreased | CurrentDecreased | Bookbalance |
| Item | Year-endbalanceoflastyear | Currentincreased | CurrentDecreased | Bookbalance |
| Basicendowmentinsurance | 394,280.13 | 3,829,721.67 | 4,201,766.55 | 22,235.25 |
| Unemploymentinsurance | 12,849.98 | 22,162.21 | 34,888.99 | 123.20 |
| Enterpriseannuity | 298.00 | 2,630,899.96 | 876,995.00 | 1,754,202.96 |
| Total | 407,428.11 | 6,482,783.84 | 5,113,650.54 | 1,776,561.41 |
(20)Taxespayable
| Item | EndingBalance | Year-endbalanceoflastyear |
| Enterpriseincometax | 475,248.33 | 3,407,074.02 |
| Realestatetax | 1,957,956.15 | 996,166.86 |
| Individualincometax | 1,043,897.37 | 1,550,858.52 |
| Land-usetaxoftown | 452,439.30 | |
| VAT | 7,538,071.86 | 15,053,172.64 |
| Other | 357,269.39 | 762,001.73 |
| Total | 11,824,882.40 | 21,769,273.77 |
(21)Otheraccountpayable
| Item | EndingBalance | Year-endbalanceoflastyear |
| Interestpayable | ||
| Dividendspayable | ||
| Otheraccountpayable | 34,163,258.96 | 43,691,472.06 |
| Total | 34,163,258.96 | 43,691,472.06 |
1.Otheraccountpayable
(1)Otherpayablebynature
| Item | Bookbalance | Year-endbalanceoflastyear |
| Engineeringfunds | 11,861,176.64 | 13,045,165.88 |
| Qualityassurance | 6,633,006.27 | 6,825,475.53 |
| Item | Bookbalance | Year-endbalanceoflastyear |
| Accruedexpenses | 10,143,950.69 | 10,301,185.40 |
| Equipmentfund | 3,718,050.65 | |
| Other | 5,525,125.36 | 9,801,594.60 |
| Total | 34,163,258.96 | 43,691,472.06 |
(2)Otheraccountpayableofmorethanoneyearisof18,271,785.62Yuan(December31,2019:
18,303,816.84Yuan),whichismainlytheengineeringequipmentfundpayableandguaranteemoney.
(22)Accrualliability
| Item | Bookbalance | Year-endbalanceoflastyear | Reason |
| Guaranteeofferingoutside | 26,646,056.28 | 26,646,056.28 | |
| Total | 26,646,056.28 | 26,646,056.28 |
Note:On29November2013,ShenzhenServerandJiahuaBuildingProducts(Shenzhen)Co.,Ltd.(JiahuaBuilding)signedasupplementarytermaimingatequitytransferoverequityattributionanddivisionofYapojiaoDock,whichbelongstoShenzhenServer,HuidongServer,andHuidongNianshanTownGovernmentaswellasitssubordinateNianshanGroup.Inordertosolvethisremaininghistoricproblem,ShenzhenServersavedRMB12,500,000.00incondominiumdepositaccountasguarantee.Inaddition,Serverpledgedits20%ofequityholdingfromHuidongServertoJiahuaArchitecturewithpledgedurationof2years.TheamountofcollateralonloanscouldnotexceedRMB15,000,000.00.RelevantlosseswiththeeventconcernedpredictedamountingtoRMB27,500,000.00bytheGroup.Thecostsforlawyersfrom2014toJune2020andthecostsforproblemleftoverbyhistoryamountingto853,943.72Yuan,endingbalanceamountedas26,646,056.28Yuan.
(23)Deferredincome
| Item | Year-endbalanceoflastyear | Currentincreased | Currentdecreased | EndingBalance | Reasons |
| Governmentsubsidy | 108,507,683.52 | 11,549,926.48 | 96,957,757.04 |
Itemswithgovernmentsubsidyinvolved:
| Liability | Openingbalance | Subsidyamountnewlyincreasedinthecurrentperiod | Amountincludedincurrentprofitandloss | Reductionofconsolidationscopechanges | Bookbalance | Assetsrelated/incomerelated |
| Subsidyforlow-nitrogentransformation | 25,165,130.64 | 261,374.29 | 3,736,754.75 | 21,167,001.60 | Assetsrelated | |
| Informationconstruction | 86,666.60 | 30,588.24 | 56,078.36 | Assetsrelated | ||
| Supportfundofrecyclingeconomyforsludgedrying | 7,451,273.95 | 323,501.46 | 7,127,772.49 | Assetsrelated | ||
| Treasurysubsidiesforsludgedrying | 2,826,250.00 | 127,500.00 | 2,698,750.00 | Assetsrelated | ||
| Specialfundsforenergyconservationandemissionreduction | 684,223.30 | 57,018.66 | 627,204.64 | Assetsrelated | ||
| Fundedofenergyefficiencyimprovementforelectricmachine | 401,760.00 | 17,280.00 | 384,480.00 | Assetsrelated | ||
| SubsidyforqualitypromotionoftheairenvironmentinShenzhen | 67,262,379.03 | 2,365,909.08 | 64,896,469.95 | Assetsrelated | ||
| Cogeneration | 4,630,000.00 | 4,630,000.00 | Assetsrelated | |||
| Total | 108,507,683.52 | 3,183,171.73 | 8,366,754.75 | 96,957,757.04 |
(24)Sharecapital
| Item | Year-endbalanceoflastyear | Changesinthisperiod(+-) | EndingBalance | ||||
| Newsharesissued | Bonusshares | Capitalizingfromreserves | Other | Subtotal | |||
| Item | Year-endbalanceoflastyear | Changesinthisperiod(+-) | EndingBalance | ||||
| Newsharesissued | Bonusshares | Capitalizingfromreserves | Other | Subtotal | |||
| Totalshares | 602,762,596.00 | 602,762,596.00 | |||||
(25)Capitalreserve
| Item | Year-endbalanceoflastyear | Currentincreased | Currentdecreased | Bookbalance |
| Capitalpremium（Sharepremium） | 233,035,439.62 | 233,035,439.62 | ||
| Othercapitalreserve | 129,735,482.48 | 129,735,482.48 | ||
| Total | 362,770,922.10 | 362,770,922.10 |
(26)Othercomprehensiveincome
| Item | Year-endbalanceoflastyear | Currentperiod | Bookbalance | ||||
| Accountbeforeincometaxintheyear | Less:writteninothercomprehensiveincomeinpreviousperiodandcarriedforwardtogainsandlossesincurrentperiod | Less:incometaxexpense | Belongtoparentcompanyaftertax | Belongtominorityshareholdersaftertax | |||
| 1.Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss | -2,500,000.00 | -2,500,000.00 | |||||
| Including:changesofthedefinedbenefitplansthatre-measured | |||||||
| Othercomprehensiveincomeunderequitymethodthatcannotbetransfertogain/loss | |||||||
| Changeoffairvalueofinvestmentinotherequityinstrument | -2,500,000.00 | -2,500,000.00 | |||||
| Fairvaluechangeofenterprise'screditrisk | |||||||
| Item | Year-endbalanceoflastyear | Currentperiod | Bookbalance | ||||
| Accountbeforeincometaxintheyear | Less:writteninothercomprehensiveincomeinpreviousperiodandcarriedforwardtogainsandlossesincurrentperiod | Less:incometaxexpense | Belongtoparentcompanyaftertax | Belongtominorityshareholdersaftertax | |||
| 2.Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss | |||||||
| including:othercomprehensiveincomeunderequitymethodthatcantransfertogain/loss | |||||||
| Changeoffairvalueofotherdebtinvestment | |||||||
| Amountoffinancialassetsre-classifytoothercomprehensiveincome | |||||||
| Creditimpairmentprovisionforotherdebtinvestment | |||||||
| Cashflowhedgingreserve | |||||||
| Item | Year-endbalanceoflastyear | Currentperiod | Bookbalance | ||||
| Accountbeforeincometaxintheyear | Less:writteninothercomprehensiveincomeinpreviousperiodandcarriedforwardtogainsandlossesincurrentperiod | Less:incometaxexpense | Belongtoparentcompanyaftertax | Belongtominorityshareholdersaftertax | |||
| Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements | |||||||
| Totalothercomprehensiveincome | -2,500,000.00 | -2,500,000.00 | |||||
(27)Surplusreserve
| Item | Year-endbalanceoflastyear | Currentincreased | Currentdecreased | Bookbalance |
| Legalsurplusreserve | 310,158,957.87 | 310,158,957.87 | ||
| Discretionarysurplusreserve | 22,749,439.73 | 22,749,439.73 | ||
| Total | 332,908,397.60 | 332,908,397.60 |
Note:accordingtotheCompanyLawandtheArticlesofAssociation,theCompanytakes10%ofthenetprofitasideaslegalsurplusreserve.Nomoreprovisionismadewhentheaccumulatedlegalsurplusreserveexceeds50%oftheregisteredcapital.Afterprovisionforlegalsurplusreserve,theCompanycanmakeprovisionforothersurplusreserve.Asapproved,othersurplusreservecanbeusedtomakeupforpreviouslossorincreasesharecapital.
(28)Retainedprofit
| Item | Currentamount | Year-endbalanceoflastyear |
| Retainedprofitoflastyearbeforeadjusted | 706,830,892.54 | 679,429,935.81 |
| Totalretainedprofitadjusted(increasedwith+,decreasedwith-) | 2,500,000.00 | |
| Retainedprofitatbeginningoftheyearafteradjusted | 706,830,892.54 | 681,929,935.81 |
| Add:netprofitattributabletoshareholdersofparentcompany | 52,040,498.42 | 24,900,956.73 |
| Less:withdrawalofstatutorysurplusreserve | ||
| Surplusreserveswithdrawal | ||
| Generalriskreservewithdrawal | ||
| CommonStockdividendpayable | 12,055,251.92 | |
| Dividendofcommonsharestransferassharecapital | ||
| Retainedprofitatperiod-end | 746,816,139.04 | 706,830,892.54 |
| Item | Currentamount | Last-periodamount |
| Income | Cost | Income | Cost | |
| Mainbusiness | 516,766,342.40 | 453,011,367.34 | 407,283,308.09 | 382,899,068.89 |
| Otherbusiness | 1,384,263.81 | 98,068.80 | 841,308.29 | 98,068.80 |
| Total | 518,150,606.21 | 453,109,436.14 | 408,124,616.38 | 382,997,137.69 |
(30)Taxandsurcharge
| Item | Currentamount | Last-periodamount |
| Citymaintenancetax | 1,383,140.70 | 347,935.14 |
| Educationsurtax | 994,801.55 | 239,773.87 |
| Realestatetax | 1,208,396.49 | 1,299,068.45 |
| Stamptax | 249,088.14 | 223,246.10 |
| Environmentalprotectiontax | 52,684.43 | 71,377.28 |
| Landholdingtax | 528,926.56 | 622,976.03 |
| Other | 2,070.82 | 21,056.56 |
| Total | 4,419,108.69 | 2,825,433.43 |
(31)Salesexpense
| Item | Currentamount | Last-periodamount |
| Sludgetreatmentcosts | 1,759,061.64 | 2,091,758.08 |
| Salary,welfareandsocialinsurance | 483,096.28 | 211,222.62 |
| Communicationexpenses | 3,600.00 | 3,600.00 |
| Socialexpenses | 102,828.00 | 115,344.00 |
| Fleetcost | 14,862.00 | 15,559.00 |
| Inspectioncharges | 8,254.72 | 5,707.55 |
| Laborinsurancefee | 12,146.33 | 10,530.68 |
| Rentalfee | 14,400.00 | 14,400.00 |
| Propertyinsurance | 55,981.53 | 49,130.74 |
| Agencyengagementfee | 49,056.60 | 37,735.85 |
| Other | 24,116.56 | 11,281.00 |
| Total | 2,527,403.66 | 2,566,269.52 |
(32)Administrationexpense
| Item | Currentamount | Last-periodamount |
| Wages | 22,642,057.64 | 23,892,967.48 |
| Rentalfee | 3,190,390.04 | 3,288,377.42 |
| Socialexpenses | 1,215,245.44 | 1,532,058.32 |
| Intermediaryagencyfee | 769,240.68 | 1,231,759.70 |
| Fleetcost | 1,544,894.98 | 1,007,200.26 |
| Boardcharges | 643,383.04 | 588,713.32 |
| Depreciation | 3,219,527.40 | 2,735,952.70 |
| Amortizationofintangibleassets | 438,195.11 | 924,080.54 |
| Environmentalprotectionfee | 112,454.45 | 985,970.24 |
| Foodfee | 1,683,299.91 | 1,636,173.21 |
| Corporateculturefee | 466,986.30 | 416,397.26 |
| Propertymanagementfee | 476,391.32 | 473,682.63 |
| Officefee | 451,606.20 | 351,693.34 |
| Communicationexpenses | 584,900.66 | 555,998.52 |
| Businesstravelexpenses | 150,697.01 | 309,115.10 |
| Feeforstockcertificate | 268,361.53 | 86,822.94 |
| Unionfunds | 296,122.92 | 303,547.56 |
| Employeeeducationexpenses | 25,496.98 | 55,175.25 |
| Other | 4,857,620.54 | 4,556,178.71 |
| Total | 43,036,872.15 | 44,931,864.50 |
(33)Financialexpense
| Item | Currentamount | Last-periodamount |
| Interestexpenses | 18,800,827.68 | 23,542,971.21 |
| Less:capitalizedinterest | 613,068.55 | |
| Expensesinterest | 18,187,759.13 | 23,542,971.21 |
| Less:interestincome | 13,142,285.32 | 13,189,605.67 |
| Item | Currentamount | Last-periodamount |
| Exchangeloss(gainsislistedwith”-”) | -56,923.92 | -6,301.58 |
| Other | 76,172.31 | 292,203.46 |
| Total | 5,064,722.20 | 10,639,267.42 |
(34)OtherIncome
| Item | Currentamount | Last-periodamount |
| Governmentgrants | 8,588,818.18 | 4,962,155.46 |
| Additionaldeductiononinputtax | ||
| Commissionforwithholdingtheindividualincometax | 166,718.37 | |
| Incomefromdebtrestructuring | ||
| Total | 8,755,536.55 | 4,962,155.46 |
Governmentsubsidiesincludedinotherincome
| Item | Currentamount | Last-periodamount | Assetrelated/incomerelated |
| SpecialFundSubsidyforShenzhenAtmosphericEnvironmentalQualityImprovement | 2,365,909.08 | 1,201,651.54 | Assetrelated |
| Subsidyforlow-nitrogentransformation | 261,374.29 | 251,403.55 | Assetrelated |
| Enterpriseinformationconstructionprojectfunding | 30,588.24 | 30,588.24 | Assetrelated |
| Subsidiesforenergy-savingtechnologicaltransformationprojects | 57,018.66 | 57,018.66 | Assetrelated |
| Treasurysubsidiesforsludgedrying | 127,500.00 | 127,500.00 | Assetrelated |
| Supportfundofrecyclingeconomyforsludgedrying | 323,501.46 | 323,501.46 | Assetrelated |
| Fundedofenergyefficiencyimprovementforelectricmachine | 17,280.00 | 17,280.00 | Assetrelated |
| VATrebates | 1,134,065.17 | 1,753,212.01 | Incomerelated |
| Unemploymentinsurancerefundofaffectedenterprises | - | Incomerelated |
| Item | Currentamount | Last-periodamount | Assetrelated/incomerelated |
| 4,171,581.28 | |||
| Subsidiesforfurthersteadygrowthoffundingprojects | 100,000.00 | Incomerelated | |
| Supportingfundsofofficeoccupancyforlistedcompanies | 1,000,000.00 | Incomerelated | |
| Rewardtoencouragingsmallandmedium-sizedenterprisetogrowthasascale-sizedcompany | 200,000.00 | Incomerelated | |
| Total | 8,588,818.18 | 4,962,155.46 |
(35)Investmentincome
| Item | Currentamount | Last-periodamount |
| Long-termequityinvestmentincomebyequity | -243,622.43 | -677,552.37 |
| Investmentincomefromdisposaloflong-terminvestments | 33,534,881.55 | |
| Total | 33,291,259.12 | -677,552.37 |
(36)Incomefromdisposalofassets
| Item | Currentamount | Last-periodamount | Amountreckonedintonon-recurringgains/lossesofthePeriod |
| Profitandlossondisposaloffixedassets | -417,926.32 | ||
| Profitandlossondisposalofconstructioninprocess | 828,535.66 | 828,535.66 | |
| Total | 828,535.66 | -417,926.32 | 828,535.66 |
(37)Non-operatingrevenue
| Item | Currentamount | Last-periodamount | Amountreckonedintonon-recurringgains/lossesofthePeriod |
| Salesofwastematerials | 98,666.50 | ||
| Other | 4,753.84 | 4,500.00 | 4,753.84 |
| Total | 4,753.84 | 103,166.50 | 4,753.84 |
(38)Non-operatingexpenditure
| Item | Currentamount | Last-periodamount | Amountreckonedintonon-recurringgains/lossesofthePeriod |
| Externaldonation | 10,000.00 | 10,000.00 | |
| Lossofscrapfromnon-currentassets | 1,110.00 | 1,110.00 | |
| Other | 46,124.97 | ||
| Total | 11,110.00 | 46,124.97 | 11,110.00 |
(39)Incometaxexpense
| Item | Currentamount | Last-periodamount |
| Currentincometaxcalculatedinaccordancewithtaxlawsandrelatedregulations | 610,366.52 | 1,157,865.76 |
(40)Cashflowstatement
1.Cashreceivedwithotheroperatingactivitiesconcerned
| Item | Currentamount | Last-periodamount |
| Governmentsubsidycollected | 4,688,786.13 | 39,297,273.00 |
| Intercoursefundscollected | 13,431,789.29 | |
| Interestincome | 10,929,678.85 | 12,982,668.91 |
2.Othercashpaidinrelationtooperationactivities
| Item | Currentamount | Last-periodamount |
| Hiringintermediaryagencyfee | 769,240.68 | 1,231,759.70 |
| Boardfee | 643,383.04 | 588,713.32 |
| Rentalfees | 3,850,120.43 | 3,762,060.05 |
| Communicationfee | 1,215,245.44 | 1,532,058.32 |
| Fleetcost | 1,544,894.98 | 1,007,200.26 |
| Corporateculturefee | 466,986.30 | 416,397.26 |
| Communicationfee | 584,900.66 | 555,998.52 |
| Environmentalprotectionfee | 112,454.45 | 985,970.24 |
| Other | 11,968,246.77 | 16,424,022.91 |
| Total | 21,155,472.75 | 26,504,180.58 |
3.Cashreceivedfromotherinvestmentactivities
| Item | Currentamount | Last-periodamount |
| RepaymentofloanfromHuidongServe | 800,000.00 |
4.Othercashpaidrelatedtoinvestmentactivities
| Item | Currentamount | Last-periodamount |
| ThecashdifferencebewteenthecashbalanceofShenNanDian(Dongguan)WeimeiElectricPowerCo.,Ltdandthecashreceivedfromthedisposaloftheequityonthedatewhendisposing | 12,577,163.02 |
5.Othercashreceivedinrelationtofinancingactivities
| Item | Currentamount | Last-periodamount |
| Marginreceived | 7,303,338.86 | |
| ReceivedaloanfromShenzhenGasGroupCo.,Ltd. | 170,000,000.00 | |
| Total | 170,000,000.00 | 7,303,338.86 |
| Other | 6,887,829.91 | 4,321,781.62 |
| Total | 22,506,294.89 | 70,033,512.82 |
(41)Supplementaryinformationtostatementofcashflow
1.Supplementaryinformationtostatementofcashflow
| Supplementaryinformation | Currentamount | Last-periodamount |
| 1.Netprofitadjustedtocashflowofoperationactivities | ||
| Netprofit | 52,251,672.02 | -33,069,503.64 |
| Add:Assetsimpairmentprovision | ||
| Depreciationoffixedassets | 25,805,403.49 | 44,801,828.95 |
| Amortizationofintangibleassets | 485,983.65 | 1,232,100.02 |
| Amortizationoflong-termdeferredexpenses | 125,971.38 | 22,548.81 |
| Lossfromdisposingfixedassets,intangibleassetsandotherlong-termassets(income) | -828,535.66 | 417,926.32 |
| Lossonretirementoffixedassets | ||
| Financialexpense(income) | 18,800,827.68 | 23,542,971.21 |
| Investmentloss(income) | 33,291,259.12 | 677,552.37 |
| Decreaseofdeferredincometaxasset((increase) | ||
| Decreaseofinventory(increase) | 16,132,545.39 | 278,786.02 |
| Decreaseofoperatingreceivableaccounts(increase) | -18,919,356.88 | 4,043,360.79 |
| Increaseofoperatingpayableaccounts(decrease) | -57,209,208.73 | 14,269,806.04 |
| Netcashflowarisingfromoperatingactivities | 69,936,561.46 | 56,217,376.89 |
| 2.Materialinvestmentandfinancingnotinvolvedincashflow | ||
| Debtcapitalization | ||
| Convertiblecompanybondduewithinoneyear | ||
| Fixedassetsacquiredunderfinanceleases | ||
| 3.Netchangeofcashandcashequivalents: | ||
| Closingbalanceofcashandcashequivalent | 1,084,903,966.81 | 1,029,883,840.43 |
| Less:Openingbalanceofcashandcashequivalent | 771,490,000.96 | 914,956,611.70 |
| Netincreasingofcashandcashequivalents | 313,413,965.85 | 114,927,228.73 |
2.Compositionofcashandcashequivalent
| Item | Bookbalance | Year-endbalanceoflastyear |
| I.Cash | 324,903,966.81 | 381,490,000.96 |
| Including:Cashonhand | 65,138.88 | 84,307.60 |
| Banksavingsavailableforpaymentneeded | 317,274,657.16 | 381,339,856.01 |
| Othermonetarycapitalavailableforpaymentneeded | 7,564,170.77 | 65,837.35 |
| Accountduefromcentralbankavailableforpayment | ||
| Amountduefrombanks | ||
| Amountcallloanstobanks | ||
| II.Cashequivalent | 760,000,000.00 | 390,000,000.00 |
| including:bondinvestmentduewithinthreemonths | ||
| III.Balanceofcashandcashequivalentatperiod-end | 1,084,903,966.81 | 771,490,000.96 |
| Including:Cashandcashequivalentoftheparentcompanyorsubsidiarieswithuserestricted |
(42)Foreigncurrency
1.Foreigncurrency
| Item | Balanceofforeigncurrencyatperiod-end | Conversionrate | BalanceofRMBconvertedatperiod-end |
| Monetaryfund | |||
| Including:USD | 840,153.18 | 7.08 | 5,947,607.19 |
| HKD | 976.71 | 7.96 | 7,775.59 |
| Euro | 466,204.75 | 0.91 | 425,833.72 |
| SGD | 5,558.03 | 5.08 | 28,242.02 |
VI.Changeofconsolidatescope
1.Disposalofsubsidiary
| Nameofsubsidiary | Equitydisposalprice | Equitydisposalratio(%) | Equitydisposalmethod | Timepointoflossofcontrol | Basisfordeterminingthetimepointoflossofcontrol | Consolidatedstatementlevelcorrespondingtodisposalpriceand |
| disposalinvestmentenjoysthedifferenceofthesubsidiary’snetassetshare | ||||||
| ShenNanDian(Dongguan)WeimeiElectricPowerCo.,Ltd | 104,980,000.00 | 70% | Assignmentbyagreement | 2020/4/30 | Thesalehasbeenapprovedbythegeneralmeetingofshareholders,morethan50%ofthedisposalpaymenthasbeenreceived,theequitytransferprocedureshavebeencompleted,andtheboardofdirectorshasbeencompletelyreplaced | 33,534,881.55 |
Cont.
| Nameofsubsidiary | Proportionofremainingequityonthedayoflossofcontrol(%) | Bookvalueofremainingequityonthedateoflossofcontrol | Fairvalueoftheremainingequityonthedateoflossofcontrol | Gainsorlossesarisingfromrecalculatingtheremainingequityatfairvalue | Determinationmethodandmainassumptionsofthefairvalueoftheremainingequityonthedateoflossofcontrol | Amountofothercomprehensiveincomerelatedtotheequityinvestmentoftheoriginalsubsidiarythattransferredtotheinvestmentprofitandloss |
| ShenNanDian(Dongguan)WeimeiElectricPowerCo.,Ltd | N/A | N/A | N/A | N/A | N/A | N/A |
(1)Equityinsubsidiaries
1.CompositionoftheGroup
| Subsidiary | Mainoperationplace | Registrationplace | Businessnature | Shareholdingratio(%) | Acquiredway |
| Directly | Indirectly | |||||
| ShenzhenServer(note) | Shenzhen | Shenzhen | Trading | 50 | Establishment | |
| NewPower | Shenzhen | Shenzhen | Powergeneration | 75 | 25 | Establishment |
| ZhongshanElectricPower | Zhongshan | Zhongshan | Powergeneration | 55 | 25 | Establishment |
| EngineeringCompany | Shenzhen | Shenzhen | Engineeringconsulting | 60 | 40 | Establishment |
| EnvironmentProtectionCompany | Shenzhen | Shenzhen | Engineering | 70 | 30 | Establishment |
| SingaporeCompany | Singapore | Singapore | Trading | 100 | Establishment | |
| ShenzhenStorage | Zhongshan | Zhongshan | Storage | 80 | Establishment | |
| Syndisome | HongKong | HongKong | Exp.&imp.Trading | 100 | Underdifferentcontrol |
Note:TheCompanyholds50%equityofShenzhenServer,andholdsamajorityofvotingrightsinthecompany'sboardofdirectorsatthesametime.Therefore,theCompanyhassubstantivecontroloverit,anditisincludedintheconsolidationscopeoftheconsolidatedfinancialstatements.
2.Importantnon-wholly-ownedsubsidiary
| Subsidiary | Share-holdingratioofminority(%) | Gains/lossesattributabletominorityinthePeriod | DividendannouncedtodistributeforminorityinthePeriod | Endingequityofminority |
| ZhongshanElectricPower | 20.00 | 2,788,481.06 | -16,079,276.55 |
3.Mainfinanceoftheimportantnon-wholly-ownedsubsidiary
| Subsidiary | EndingBalance | Year-endbalanceoflastyear | ||||||||||
| Currentassets | Non-currentassets | Totalassets | Currentliability | Non-currentliability | Totalliability | Currentassets | Non-currentassets | Totalassets | Currentliability | Non-currentliability | Totalliability | |
| ZhongshanElectricPower | 78,383,348.34 | 517,641,214.85 | 596,024,563.19 | 670,872,281.50 | 5,548,664.49 | 676,420,945.99 | 67,810,211.56 | 529,800,968.49 | 597,611,180.05 | 686,312,294.78 | 5,637,673.36 | 691,949,968.14 |
| Subsidiary | Currentamount | Last-yearamount | ||||||
| OperationIncome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperationactivity | OperationIncome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperationactivity | |
| ZhongshanElectricPower | 85,765,596.92 | 13,942,405.29 | 13,942,405.29 | 31,248,237.34 | 66,364,051.74 | -11,987,240.04 | -11,987,240.04 | 30,421,274.57 |
(2)Equityinjointventureandcooperativeenterprise
1.Majorjointventureandcooperativeenterprise
| Name | Mainoperationplace | Registeredplace | Businessnature | Share-holdingratio（%） | Accountingtreatmentoninvestmentforjointventureandcooperativeenterprise | |
| Directly | Indirectly | |||||
| HuidongServer | Huizhou | Huizhou | Wharfoperation | 40.00 | Equitymethod | |
2.Financialsummaryforun-importantjointventureorcooperativeenterprise
| EndingBalance/Currentamount | Year-endbalanceoflastyear/Last-yearamount | |
| Jointventure: | ||
| Totalbookvalueoftheinvestment | 14,375,580.60 | 14,619,203.03 |
| Totalnumbersmeasuredbyshare-holdingratio | ||
| —Netprofit | -243,622.43 | -677,552.37 |
| —Othercomprehensiveincome | ||
| —Totalcomprehensiveincome | -243,622.43 | -677,552.37 |
VIII.Risksrelatingtofinancialinstruments
TheCompany'smainfinancialinstrumentsincludeequityinvestment,borrowings,accountsreceivable,accountspayable,etc.,seedetailsofeachfinancialinstrumentinrelateditemsofthisannotationV.TherisksassociatedwiththesefinancialinstrumentsandtheriskmanagementpoliciesadoptedbytheCompanytoreducetheserisksaredescribedasbelow.ThemanagementoftheCompanymanagesandmonitorstheseriskexposurestoensurethattheaboverisksarecontrolledwithinthelimitrange.TheCompanyusesthesensitivityanalysistechniquetoanalyzethepossibleimpactoftheriskvariableonthecurrentprofitandlossortheshareholders'equity.Sinceanyriskvariablerarelychangesinisolation,andthecorrelationexistingamongthevariablesshallhaveasignificanteffectonthefinalamountofchangesaboutacertainriskvariable,therefore,thefollowingproceedsbyassumingthatthechangeineachvariableisindependent.TheobjectiveoftheCompany'sriskmanagementistogainaproperbalancebetweenrisksandprofits,minimizethenegativeimpactofrisksontheCompany'soperatingresults,andmaximizethebenefitsofshareholdersandotherequityinvestors.Basedontheriskmanagementobjective,thebasicstrategyoftheCompany'srisk
managementistoidentifyandanalyzetherisksfacedbytheCompany,establishappropriatebottomlinetobeartherisksandcarryoutriskmanagement,andtimelyandreliablysupervisetheriskssoastocontroltheriskswithinthelimitrange.(I)CreditriskOn30June2020,themaximumcreditriskexposurethatcouldcausefinanciallosstotheCompanyismainlyduetothefailureoftheotherpartytofulfilltheobligations,resultinginlossestotheCompany'sfinancialassets,including:
Carryingvalueoffinancialassetsrecognizedinconsolidatedbalancesheet.Asforfinancialinstrumentatfairvalue,carryingvaluereflectsitsriskexposure,whilenotthelargestriskexposure.Thelargestriskexposurewillvaryasfairvaluechangesinfuture.Inordertobringdowncreditrisk,theCompanyestablishesaspecialworkingteamtotakechargeofdeterminingcreditlimit,makingcreditapprovalandimplementingothermonitorprocedurestoensurenecessarymeasuresareadoptedtocollectoverduedebts.Inaddition,recoveryofeachsingleaccountreceivableisreviewedoneachbalancesheetdatetoensureadequatebaddebtprovisionismadeforunrecoverableamount.Therefore,managementbelievesthattheCompanyhassubstantiallyreducedthecreditrisksitassumes.Ourcurrentcapitalisdepositedwithhighly-ratedbanks,thuscreditriskarisingfromcurrentcapitalisrelativelylow.(II)MarketriskMarketrisksoffinancialinstrumentsreferstotherisksthatthefairvalueorfuturecashflowofsuchfinancialinstrumentswillfluctuateduetothechangesinmarketprices,includingFXrisks,interestraterisksandotherpricerisks.
1.Interestraterisk
TheCompany'scashflowchangeriskoffinancialinstrumentsarisingfrominterestratechangeismainlyrelatedtothefloatinginterestratebankloans(seedetailsinNoteV(16);Interestraterisksensitivityanalysis:
Theinterestraterisksensitivityanalysisisbasedonthefollowingassumptions:
Changesinmarketinterestratesaffecttheinterestincomeorexpenseoffinancialinstrumentswithvariableinterestrate;Forfinancialinstrumentswithfixedratebyfairvaluemeasurement,thechangesinmarketinterestratesonlyaffecttheirinterestincomeorexpense;Forderivativefinancialinstrumentsdesignatedashedginginstruments,thechangesinmarketinterestratesaffecttheirfairvalue,andallinterestratehedgingpredictionishighlyeffective;Calculatethechangesinfairvalueofderivativefinancialinstrumentsandotherfinancialassetsandliabilitiesbyusingthecashflowdiscountmethodatthemarketinterestrateatthebalancesheetdate.
Onthebasisofaboveassumptions,incasethatothervariableskeepunchanged,thepre-taxeffectofpossiblereasonablechangesininterestratesoncurrentprofitsandlossesandshareholders'equityisasfollows:
| Ratechanges | Currentyear | Lastyear | ||
| Impactonprofit | Impactonshareholders’equity | Impactonprofit | Impactonshareholders’equity | |
| 5%increased | 878,221.61 | 800,563.02 | 1,177,083.56 | 1,139,067.58 |
| Ratechanges | Currentyear | Lastyear | ||
| Impactonprofit | Impactonshareholders’equity | Impactonprofit | Impactonshareholders’equity | |
| 5%decreased | -878,221.61 | -800,563.02 | -1,177,083.56 | -1,139,067.58 |
2.FXrisks
Foreignexchangeriskreferstotheriskoflossesduetoexchangeratechanges.TheCompany’sforeignexchangeriskismainlyrelatedtotheUSdollar.On30June2020,exceptforthebalanceofforeigncurrencymonetaryitemsof42.ForeigncurrencymonetaryinNoteV,theassetsandliabilitiesoftheCompanyareRMBbalance.TheforeignexchangeriskarisingfromtheassetsandliabilitiesofsuchforeigncurrencybalancesmayhaveanimpactontheCompany'soperatingresults.(III)LiquidityriskInmanagingtheliquidityrisk,theCompanykeepsthecashandcashequivalentsthatthemanagementconsiderstobesufficientandsupervisethemsoastomeettheCompany'soperatingneedsandreducetheimpactoffluctuationsincashflows.TheCompany’smanagementmonitorstheuseofbankloansandensurestocomplywiththeloanagreement.TheCompanyusesbankloansasthemainsourceoffunds.
IX.Relatedpartyandrelatedpartytransactions
(1)ParentcompanyoftheGroupShareholdingproportionofanyshareholderoftheCompanydidn'treach50%,andcouldn'tformaholdingrelationshipoftheCompanythroughanymethods.TheCompanyhasnoparentcompany.
(2)SubsidiariesoftheCompanySeedetailsinNoteVII.Equityinotherentity
(3)JointventureandaffiliatedenterpriseoftheGroupSeedetailsinNoteVII.Equityinotherentity
(4)Otherrelatedparty
| Otherrelatedparty | RelationshipwiththeCompany |
| ShenzhenEnergyGroupCo.,Ltd.(“ShenzhenEnergyGroup”forshort) | Legalpersonholdingmorethan5%ofthecompany'sshares |
| ShenzhenGuangjuIndustrialCo.,Ltd. | Legalpersonholdingmorethan5%ofthecompany'sshares |
| HONGKONGNAMHOI(INTERNATIONAL)LTD. | Legalpersonholdingmorethan5%ofthecompany'sshares |
| ShenzhenCapitalCo.,Ltd. | Legalpersonindirectlyholdingmorethan5%ofthecompany'ssharesthroughShenzhenEnergyGroup |
| Otherrelatedparty | RelationshipwiththeCompany |
| WanheSecuritiesCo.,Ltd. | Otherrelatedparties |
| ShenzhenEnergyGroupCo.,Ltd. | Otherrelatedparties |
| FuelbranchofShenzhenEnergyGroupCo.,Ltd. | Otherrelatedparties |
| ShenzhenEnergyandGasInvestmentHoldingCo.,Ltd. | Otherrelatedparties |
| Directors,supervisorsandseniormanagementofthecompany | Keymanagers |
(5)Receivable/payableitemsofrelatedparties
1.Receivable
| Item | Relatedparty | EndingBalance | Year-endbalanceoflastyear | ||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | ||
| Otheraccountreceivable | |||||
| HuidongServer | 8,432,761.42 | 9,060,361.44 | |||
| HuidongServermanagedaccount | 13,243,635.56 | 13,114,012.69 | |||
| Total | 21,676,396.98 | 22,174,374.13 | |||
X.Governmentsubsidies
(1)Governmentsubsidiesrelatedtoassets
| Type | Amount | Balancesheet | Theamountincludedincurrentgain/lossorlossresultingfromrelatedcostsoff-setting | Itemoftheamountincludedincurrentgain/lossorlossresultingfromrelatedcostsoff-setting | |
| Currentamount | Lastamount | ||||
| Type | Amount | Balancesheet | Theamountincludedincurrentgain/lossorlossresultingfromrelatedcostsoff-setting | Itemoftheamountincludedincurrentgain/lossorlossresultingfromrelatedcostsoff-setting | |
| Currentamount | Lastamount | ||||
| Subsidyforlow-nitrogentransformation | 43,032,780.00 | Deferredincome | 261,374.29 | 251,403.55 | Otherincome |
| Informationconstruction | 520,000.00 | Deferredincome | 30,588.24 | 30,588.24 | Otherincome |
| Supportfundofrecyclingeconomyforsludgedrying | 10,000,000.00 | Deferredincome | 127,500.00 | 127,500.00 | Otherincome |
| Treasurysubsidiesforsludgedrying | 5,100,000.00 | Deferredincome | 323,501.46 | 323,501.46 | Otherincome |
| Specialfundsforenergyconservationandemissionreduction | 1,530,000.00 | Deferredincome | 57,018.66 | 57,018.66 | Otherincome |
| Fundedofenergyefficiencyimprovementforelectricmachine | 518,400.00 | Deferredincome | 17,280.00 | 17,280.00 | Otherincome |
| SubsidyforqualitypromotionoftheairenvironmentinShenzhen | 70,977,273.00 | Deferredincome | 2,365,909.08 | 1,201,651.54 | Otherincome |
| Total | 131,678,453.00 | 3,183,171.73 | 2,008,943.45 | ||
(2)Governmentsubsidiesrelatedtoincome
| Type | Amount | Theamountincludedincurrentgain/lossorlossresultingfromrelatedcostsoff-setting | Itemoftheamountincludedincurrentgain/lossorlossresultingfromrelatedcostsoff-setting | |
| Currentamount | Lastamount | |||
| Type | Amount | Theamountincludedincurrentgain/lossorlossresultingfromrelatedcostsoff-setting | Itemoftheamountincludedincurrentgain/lossorlossresultingfromrelatedcostsoff-setting | |
| Currentamount | Lastamount | |||
| VATrefund | 1,134,065.17 | 1,134,065.17 | 1,753,212.01 | Otherincome |
| Unemploymentinsurancerefundofaffectedenterprises | 4,171,581.28 | 4,171,581.28 | Otherincome | |
| Subsidiesforfurthersteadygrowthoffundingprojects | 100,000.00 | 100,000.00 | Otherincome | |
| Officehousingsupportfundsforlistedcompanies | 1,000,000.00 | Otherincome | ||
| EncourageSMEstoscaleuprewards | 200,000.00 | Otherincome | ||
| Total | 5,405,646.45 | 5,405,646.45 | 2,953,212.01 | |
XI.CommitmentandContingency
(1)MajorCommitment
Nil
(2)Contingency
Nil
XII.EventsOccurringaftertheBalanceSheetDate
OnMarch5andMarch23,2020,theEleventhExtraordinaryMeetingoftheCompany’sEighthBoardofDirectorsandthe2020FirstExtraordinaryGeneralMeetingofShareholdersunderthenameofShenzhenNanshanPowerCo.,Ltd(hereinafterreferredtoastheCompany)respectivelyreviewedandapprovedtheProposalontheAgreementtoTransfer70%EquityofShenNanDian(Dongguan)WeimeiElectricPowerCo.,Ltd.",agreeingtotransfer70%equityofShenNanDianDongguanCompanydirectlyandindirectlyheldbythecompanytoShenzhenGasGroupCo.,Ltd.(hereinafterreferredtoasShenzhenGas)atatotalpriceof104.98millionyuan.AccordingtotheequitytransferagreementsignedbetweenthecompanyandShenzhenGas,afterthecompany
received40%ofequitytransferfund,i.e.59.99millionyuan,ofShenNanDianDongguanCompanyfromShenzhenGas,ShenNanDianDongguanCompanyhascompletedtheindustrialandcommercialchangeregistrationonApril9,2020.Sincethen,thetotalloanof300millionyuanappliedbyShenNanDianDongguanCompanyfromBankofNingboShenzhenBranchandIndustrialBankShenzhenBranchhasbeenrepaid,andthejointguaranteeandliabilityguaranteeprovidedbythecompanyfortheaboveloanofShenNanDianDongguanCompanyhasbeenlifted;ShenNanDianDongguanCompanyhasfullyrepaidtheprincipalandinterestofthecompany's180millionyuanoffinancialassistance.OnJuly2,2020,thecompany'swholly-ownedsubsidiaryHongKongSyndisomeCo.,Ltd.receivedtheremaining30%equitytransferpaymentof44.99millionyuanfromShenzhenGas.Sofar,thecompanyhasreceivedalltheequitytransferpaymentspaidbyShenzhenGas,andthetransferof70%equityofShenNanDianDongguanCompanywascompleted.
XIII.Otherimportantevents
(1)Segmentinformation
1.DeterminingbasisandaccountingpoliciesofreportablesegmentsAccordingtotheGroup'sinternalorganizationstructure,managementrequirementsandinternalreportingsystem,theGroup'sbusinessisdividedintothreeoperatingsegmentsincludingpowerandheatsupply,fueloiltradeandotherbusiness,theGroup'smanagementperiodicallyevaluatestheoperatingresultsofthesesegmentssoastodeterminetheallocationofresourcesandassesstheirperformances.Segmentalreportinginformationisdisclosedinaccordancewiththeaccountingpoliciesandmeasurementstandardsadoptedbyeachsegmentforreportingtothemanagement,themeasurementbasiskeeppacewiththeaccountingandmeasurementbasisusedforpreparingfinancialstatements.
2.Financialinformationofthereportablesegment
| Item | Powersupply&heating | Fueltrading | Other | Fueltrading | Total |
| Operationincome | 492,269,718.83 | 535,619.08 | 46,696,529.61 | 21,351,261.31 | 518,150,606.21 |
| Operationcost | 443,625,551.12 | 98,068.80 | 36,294,452.93 | 26,908,636.71 | 453,109,436.14 |
| Totalassets | 3,739,501,185.55 | 121,784,714.52 | 346,595,525.59 | 1,156,333,540.24 | 3,051,547,885.42 |
| Totalliabilities | 1,751,424,593.52 | 29,386,981.49 | 44,802,294.92 | 846,135,389.63 | 979,478,480.30 |
XIV.NotetomainitemsoffinancialstatementsoftheCompany
(1)Accountreceivable
1.Ageanalysis
| Accountage | Bookbalance | Year-endbalanceoflastyear |
| Accountage | Bookbalance | Year-endbalanceoflastyear |
| Withinoneyear | 61,626,629.43 | 31,821,804.69 |
| 1to2years | ||
| 2to3years | ||
| Over3years | 2,889.00 | 2,889.00 |
| Subtotal | 61,629,518.43 | 31,824,693.69 |
| Less:Baddebtprovision | ||
| Total | 61,629,518.43 | 31,824,693.69 |
2.Accordingtoaccrualmethodforbaddebts
| Category | Bookbalance | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Proportion(%) | Amount | Accrualproportion(%) | ||
| Withsingleprovisionforbaddebts | |||||
| Withbaddebtprovisionaccrualbasedonsimilarcreditriskcharacteristicsofaportfolio | 61,629,518.43 | 100.00 | 61,629,518.43 | ||
| Total | 61,629,518.43 | 100.00 | 61,629,518.43 | ||
| Category | Year-endbalanceoflastyear | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Proportion(%) | Amount | Accrualproportion(%) | ||
| Withsingleprovisionfor | |||||
| Category | Year-endbalanceoflastyear | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Proportion(%) | Amount | Accrualproportion(%) | ||
| baddebts | |||||
| Withbaddebtprovisionaccrualbasedonsimilarcreditriskcharacteristicsofaportfolio | 31,824,693.69 | 100 | 31,824,693.69 | ||
| Total | 31,824,693.69 | 100 | 31,824,693.69 | ||
3.NoaccountreceivablewithsingleprovisionforbaddebtsProvisionforbaddebtsbyportfolio：
Provisionbyportfolio：
| Name | Bookbalance | ||
| Accountreceivable | Baddebtprovision | Accrualproportion(%) | |
| Withminorcreditrisk | 61,629,518.43 | ||
Recognitionstandardsandspecificationsonprovisionsbyportfolio:
TheaccountreceivablewithprovisionforbaddebtsbyportfoliomainlyreferstotheamountfromShenzhenPowerSupplyBureauCo.,Ltdetc.,whichhasminorcreditriskandnoprovisionforbaddebts.
4.Noprovisionforbaddebtsinthecurrentperiod
5.Top5receivablesatendingbalancebyarrearspartyTotalperiod-endbalanceoftopfivereceivablesbyarrearspartyamountingto61,629,518.43Yuan,takes100percentofthetotalaccountreceivableatperiod-end,baddebtprovisionaccrualcorrespondinglyatperiod-endamountingas0Yuan
6.Noaccountsreceivableterminatedrecognitionduetotransferoffinancialassetsattheperiod
(2)Otheraccountreceivable
| Item | EndingBalance | Lastyear-endbalance |
| Interestreceivable | ||
| Dividendreceivable |
| Item | EndingBalance | Lastyear-endbalance |
| Otheraccountreceivable | 660,835,522.34 | 873,861,071.55 |
| Total | 660,835,522.34 | 873,861,071.55 |
1.Otheraccountreceivable
(1)Disclosurebyage
| Accountage | EndingBalance | Lastyear-endbalance |
| Withinoneyear | 181,599,583.37 | 239,265,595.88 |
| 1to2years | 262,147,773.68 | 89,264,291.59 |
| 2to3years | 136,709,590.00 | 100,729,690.00 |
| Over3years | 107,708,218.73 | 471,931,137.52 |
| Subtotal | 688,165,165.78 | 901,190,714.99 |
| Less:Baddebtprovision | 27,329,643.44 | 27,329,643.44 |
| Total | 660,835,522.34 | 873,861,071.55 |
(2)Disclosurebycategory
| Category | Bookbalance | ||||
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Proportion(%) | Amount | Accrualproportion(%) | ||
| Withsingleprovisionforbaddebts | 28,023,159.22 | 4.07 | 27,329,643.44 | 97.53 | 693,515.78 |
| Withbaddebtprovisionaccrualbasedonsimilarcreditriskcharacteristicsofaportfolio | 660,142,006.56 | 95.93 | 660,142,006.56 | ||
| Total | 688,165,165.78 | 100.00 | 27,329,643.44 | 3.97 | 660,835,522.34 |
| Category | Year-endbalanceoflastyear |
| Bookbalance | Baddebtprovision | Bookvalue | |||
| Amount | Proportion(%) | Amount | Accrualproportion(%) | ||
| Withsingleprovisionforbaddebts | 28,023,159.22 | 3.11 | 27,329,643.44 | 97.53 | 693,515.78 |
| Withbaddebtprovisionaccrualbasedonsimilarcreditriskcharacteristicsofaportfolio | 873,167,555.77 | 96.89 | 873,167,555.77 | ||
| Total | 901,190,714.99 | 100.00 | 27,329,643.44 | 3.03 | 873,861,071.55 |
Withsingleprovisionforbaddebts:
| Name | Bookbalance | |||
| Bookamount | Baddebtprovision | Accrualproportion(%) | Causes | |
| HuiyangKangtaiIndustrialCompany | 14,311,626.70 | 14,311,626.70 | 100.00 | Un-collectableinexcepted |
| Individualincometax | 2,470,039.76 | 2,470,039.76 | 100.00 | Un-collectableinexcepted |
| Dormitoryamountreceivable | 2,083,698.16 | 1,736,004.16 | 83.31 | Someun-collectableinexcepted |
| Personalreceivables | 7,498,997.87 | 7,498,997.87 | 100.00 | Un-collectableinexcepted |
| Depositreceivable | 1,658,796.73 | 1,312,974.95 | 79.15 | Someun-collectableinexcepted |
| Total | 28,023,159.22 | 27,329,643.44 | 97.53 | |
Provisionforbaddebtsbyportfolio:
Provisionbyportfolio:
| Name | Bookbalance |
| Otheraccountreceivable | Baddebtprovision | Accrualproportion(%) | |
| Withminorcreditrisk | 660,142,006.56 |
Recognitionstandardsandspecificationsonprovisionsbyportfolio:
TheCompanybelievesthatthecreditriskofotheraccountreceivablewithnoimpairmentinthesingleassessmentisrelativelylow,noprovisionforbaddebts,unlessthereisevidencethatacertainotheraccountreceivableisatgreatercreditrisk.
(3)Accrualofbaddebtprovision
| Baddebtprovision | PhasesI | PhasesII | PhasesIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| Balanceatyear-begin | 27,329,643.44 | 27,329,643.44 | ||
| Bookbalanceofotheraccountreceivableatyear-begin | ||||
| ——TurntophaseII | ||||
| ——TurntophaseIII | ||||
| ——ReturntoPhaseII | ||||
| ——ReturntoPhaseI | ||||
| Currentaccrual | ||||
| Currentswitchback | ||||
| Rewriteintheperiod | ||||
| Write-offintheperiod | ||||
| Otherchanges | ||||
| Bookbalance | 27,329,643.44 | 27,329,643.44 |
(4)Noprovisionforbaddebtsinthecurrentperiod
(5)Nootheraccountsreceivablethathadactuallywrittenoffintheperiod
(6)Bynature
| Nature | Endingbookbalance | Bookbalanceatlastyear-end |
| Dormitoryreceivables | 2,083,698.16 | 2,083,698.16 |
| Depositreceivable | 1,738,810.86 | 1,658,796.73 |
| Relatedpartytransactions | 656,170,887.94 | 866,978,723.13 |
| Personalaccount | 10,008,932.63 | 10,008,932.63 |
| Other | 18,162,836.19 | 20,460,564.34 |
| Total | 688,165,165.78 | 901,190,714.99 |
(7)Top5otheraccountreceivablesatperiod-endlistedbyarrearsparty
| Nameofthecompany | RelationshipwiththeCompany | EndingBalance | Age | Proportionintotalotheraccountreceivable(%) | Endingbalanceofbaddebtprovision |
| ShenNanDian(Zhongshan)ElectricPowerCo.,Ltd. | Intercoursefunds | 648,154,459.86 | 0-3year,Over3years | 94.19 | |
| HuiyangCountyKangtaiIndustrialCompany | Other | 14,311,626.70 | Over3years | 2.08 | 14,311,626.70 |
| ShenzhenShennandianTurbineEngineeringTechnologyCo.,Ltd. | Intercoursefunds | 4,204,379.85 | Within1year | 0.61 | |
| ShenzhenShenNanDianEnvironmentProtectionCo.,Ltd. | Intercoursefunds | 3,812,048.23 | Within1year | 0.55 | |
| Dormitoryreceivables | Intercoursefunds | 2,083,698.16 | Over3years | 0.30 | 1,736,004.16 |
| Total | 672,566,212.80 | 97.73 | 16,047,630.86 |
(8)Noreceivablesinvolvinggovernmentsubsidies
(9)Nootherreceivablesterminatedrecognitionduetotransferoffinancialassets
(3)Long-termequityinvestment
| Item | EndingBalance | Lastyear-endbalance |
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Investmenttosubsidiary | 576,663,800.00 | 347,745,035.00 | 228,918,765.00 | 691,982,849.76 | 388,641,684.76 | 303,341,165.00 |
| Investmenttojointventureandaffiliateenterprise | ||||||
| Total | 576,663,800.00 | 347,745,035.00 | 228,918,765.00 | 691,982,849.76 | 388,641,684.76 | 303,341,165.00 |
1.Investmenttosubsidiary
| Theinvestedentity | Lastyear-endbalance | Increaseintheperiod | Decreaseintheperiod | EndingBalance | ImpairmentprovisionaccrualinthePeriod | Period-endbalanceofdepreciationreserves |
| ShenzhenServer | 26,650,000.00 | 26,650,000.00 | ||||
| NewPowerCompany | 71,270,000.00 | 71,270,000.00 | ||||
| ZhongshanElectricPower | 410,740,000.00 | 410,740,000.00 | 347,745,035.00 | |||
| EngineeringCompany | 6,000,000.00 | 6,000,000.00 | ||||
| WeimeiElectricPower | 115,319,049.76 | 115,319,049.76 | ||||
| SingaporeCompany | 6,703,800.00 | 6,703,800.00 |
| Theinvestedentity | Lastyear-endbalance | Increaseintheperiod | Decreaseintheperiod | EndingBalance | ImpairmentprovisionaccrualinthePeriod | Period-endbalanceofdepreciationreserves |
| EnvironmentProtectionCompany | 55,300,000.00 | 55,300,000.00 | ||||
| Total | 691,982,849.76 | 115,319,049.76 | 576,663,800.00 | 347,745,035.00 |
(4)Operationrevenue/operationcost
| Item | Currentamount | Last-periodamount | ||
| Revenue | Cost | Revenue | Cost | |
| Mainbusiness | 118,119,714.73 | 133,626,167.32 | 127,282,753.58 | 166,390,507.99 |
| Otherbusiness | 27,647,300.61 | 4,310,751.77 | 38,231,297.65 | 5,937,627.54 |
| Total | 145,767,015.34 | 137,936,919.09 | 165,514,051.23 | 172,328,135.53 |
XV.Supplementaryinformation
(1)Statementofnon-recurringgains/losses
| Item | Amount | Note |
| Gainsandlossesfromdisposalofnon-currentassets | 34,363,417.21 | |
| Taxrefundormitigateduetoexamination-and-approvalbeyondpowerorwithoutofficialapprovaldocument | ||
| Governmentalsubsidyreckonedintocurrentgains/losses(notincludingthesubsidyenjoyedinquotaorration,whicharecloselyrelevanttoenterprise’snormalbusiness | 7,621,471.38 | |
| Capitaloccupancyexpense,collectedfromnon-financialenterprisesandrecordedincurrentgainsandlosses | ||
| IncomefromtheexceedingpartbetweeninvestmentcostoftheCompanypaidforobtainingsubsidiaries,associatesandjoint-venturesandrecognizablenetassetsfairvalueattributabletotheCompanywhenacquiringtheinvestment | ||
| Gainsandlossesfromexchangeofnon-monetaryassets | ||
| Gainsandlossesfromassetsundertrustedinvestmentor |
| Item | Amount | Note |
| management | ||
| VariousprovisionforimpairmentofassetswithdrewduetoactofGod,suchasnaturaldisaster | ||
| Gainsandlossesfromdebtrestructuring | ||
| Enterpriserestructuringcosts,suchasexpensesforstaffplacement,integrationcosts,etc | ||
| Gainsandlossesofthepartarisingfromtransactioninwhichpriceisnotfairandexceedingfairvalue | ||
| Currentnetgainsandlossesoccurredfromperiod-begintocombinationdaybysubsidiariesresultingfrombusinesscombinationundercommoncontrol | ||
| GainsandlossesarisingfromcontingentproceedingsirrelevanttonormaloperationoftheCompany | ||
| ExceptforeffectivehedgebusinessrelevanttonormaloperationoftheCompany,gainsandlossesarisingfromfairvaluechangeoftradablefinancialassetsandtradablefinancialliabilities,andinvestmentincomefromdisposaloftradablefinancialassets,tradablefinancialliabilitiesandfinancialassetsavailableforsale | ||
| Switch-backofprovisionofimpairmentofaccountreceivablewhicharetreatedwithseparatedepreciationtest | ||
| Gainsandlossesobtainedfromexternaltrustedloans | ||
| Gainsandlossesarisingfromchangeoffairvalueofinvestmentrealestatewhosefollow-upmeasurementareconductedaccordingtofairvaluepattern | ||
| Affectoncurrentgainsandlossesafteranone-timeadjustmentaccordingtorequirementsoflawsandregulationsregardingtotaxationandaccounting | ||
| Trustfeeobtainedfromtrustoperation | ||
| Othernon-operatingincomeandexpenditureexceptfortheaforementioneditems | -6,356.16 | |
| Othergainsandlossesitemscomplyingwithdefinitionfornon-recurringgainsandlosses | ||
| Impactonincometax | -67,935.50 | |
| Impactonminorityshareholders’equity | -19,828.93 |
| Item | Amount | Note |
| Total | 41,890,768.00 |
(2)ROEandEPS
| ProfitinthePeriod | WeightedaverageROE(%)） | EPS | |
| BasicEPS | DilutedEPS | ||
| Netprofitattributabletoshareholdersofthelistedcompany | 2.57 | 0.09 | 0.09 |
| Netprofitattributabletoshareholdersofthelistedcompanyafterdeductingnon-recurringgainsandlosses | 0.51 | 0.02 | 0.02 |