ShenzhenTextile(Holdings)Co.,Ltd.
TheSemi-AnnualReport2022
August2022
I.ImportantNotice,TableofContentsandDefinitions
TheBoardofDirectors,theSupervisoryCommittee,thedirectors,thesupervisors,andexecutivesoftheCompanyguaranteethattherearenosignificantomissions,fictitiousormisleadingstatementscarriedintheReportandwewillacceptindividualandjointresponsibilitiesforthetruthfulness,accuracyandcompletenessoftheReport.Mr.YinKefei,TheCompanyleader,Mr.HeFei,ChieffinancialofficerandtheMs.ZhuJingjing,thepersoninchargeoftheaccountingdepartment(thepersoninchargeoftheaccounting)herebyconfirmtheauthenticityandcompletenessofthefinancialreportenclosedinthesemi-report.AllthedirectorsattendedtheboardmeetingforthereviewofthisReport.Concerningtheforward-lookingstatementswithfutureplanninginvolvedintheReport,theydonotconstituteasubstantialcommitmentforinvestors,Investorsandrelatedpersonsshallkeepsufficientriskawareness,andshallunderstandthedifferencesbetweenplans,forecastsandcommitments,andremindinvestorsofinvestmentrisks.Thecompanyhasthemacroeconomicrisks,marketcompetitionrisksandrawmaterialrisks.Investorsareadvisedtopayattentiontoinvestmentrisks.Fordetails,pleaserefertothepossibleriskfactorsthatthecompanymayfaceintheX"RisksfacingtheCompanyandcountermeasures"intheSectionIII"ManagementDiscussion&Analysis".TheCompanyhasnoplanofcashdividendscarriedout,bonusissuedandcapitalizingofcommonreserveseither.ThisReporthasbeenpreparedinbothChineseandEnglish.Incaseofanydiscrepancy,theChineseversionshallprevail.
TableofContents
I.ImportantNotice,TableofcontentsandDefinitionsII.CompanyProfile&FinancialHighlights.III.ManagementDiscussion&AnalysisIV.CorporateGovernanceV.Environmental&SocialResponsibilityVI.ImportantEventsVII.ChangeofsharecapitalandshareholdingofPrincipalShareholdersVIII.SituationofthePreferredSharesIX.CorporateBondX.FinancialReport
DocumentsavailableforinspectionI.Accountingstatementscarriedwithpersonalsignaturesandsealsoflegalrepresentative,GeneralManager,ChiefFinancialofficer.II.ThetextsofalltheCompany'sdocumentspubliclydisclosedonthenewspapersandperiodicalsdesignatedbyChinaSecuritiesRegulatoryCommissioninthereportperiod.III.Otherrelativedocuments.TheabovedocumentswerecompletelyplacedattheOfficeofSecretariesoftheBoardofDirectorsoftheCompany.
Definition
Termstobedefined
Termstobedefined | Refersto | Definition |
Company/TheCompany/ShenTextile | Refersto | ShenzhenTextile(Holdings)Co.,Ltd |
ArticlesofAssociation | Refersto | ArticlesofAssociationofShenzhenTextile(Holdings)Co.,Ltd |
Actualcontroller/NationalAssetsRegulatoryCommissionofShenzhenMunicipalPeople'sGovernment | Refersto | NationalAssetsRegulatoryCommissionofShenzhenMunicipalPeople'sGovernment |
TheControllingshareholder/ShenzhenInvestmentHoldingCo.,Ltd. | Refersto | ShenzhenInvestmentHoldingCo.,Ltd. |
ShenchaoTechnology | Refersto | ShenzhenShenchaoTechnologyInvestmentCo.,Ltd. |
SAPOPhotoelectric | Refersto | ShenzhenShengboPhotoelectricTechnologyCo.,Ltd. |
JinjiangGroup | Refersto | HangzhouJinjiangGroupCo.,Ltd. |
NittoDenko | Refersto | NittoDenkoCorporation |
BeautyCentury | Refersto | ShenzhenBeautyCenturyGarmentCo.,Ltd. |
ShenzhenXieli | Refersto | ShenzhenXieliAutoCo.,Ltd. |
JinxinInvestment | Refersto | LanxiJinxinInvestmentManagementCo.,Ltd. |
ChangxingJunying | Refersto | ChangxingJunyingEqkuityInvestmentPartnership(LP) |
HuaijiInvestment | Refersto | HangzhouHuaijiInvestmentManagementCo.,Ltd. |
JinhangInvestment | Refersto | HangzhouJinhangInvestmentFundPartnership(LP) |
Line4 | Refersto | TTFT-LCDpolarizerIIphaseLine4project |
Line5 | Refersto | TFT-LCDpolarizerIIphaseLine5project |
Line6 | Refersto | TFT-LCDpolarizerIIphaseLine6project |
Line7 | Refersto | IndustrializationprojectofpolaroidforsuperlargesizeTV |
“CSRC” | Refersto | ChinaSecuritiesRegulatoryCommission |
CompanyLaw | Refersto | CompanyLawofthePeople’sRepublicofChina |
SecuritiesLaw | Refersto | SecuritiesLawofthePeople’sRepublicofChina |
TheReport | Refersto | TheSemi-annualReport2022 |
II.CompanyProfile&FinancialHighlightsI.CompanyProfile
Stockabbreviation
Stockabbreviation | ShenTextileA,ShenTextileB | Stockcode | 000045,200045 |
Stockexchangeforlisting | ShenzhenStockExchange | ||
NameinChinese | 深圳市纺织(集团)股份有限公司 | ||
Chineseabbreviation(Ifany) | 深纺织 | ||
Englishname(Ifany) | SHENZHENTEXTILE(HOLDINGS)CO.,LTD | ||
Englishabbreviation(Ifany) | STHC | ||
LegalRepresentative | YinKefei |
Note:ZhangJian,theformerChairmanoftheCompany,resignedonAugust2,2022.Fordetails,pleaserefertotheCompany'sAnnouncementontheResignationoftheChairmanoftheCompany(No.2022-23)onCNINF(http://www.cninfo.com.cn).Aftertheelectionofthe14thMeetingoftheEighthBoardofDirectors,YinKefeiwaselectedastheChairmanoftheEighthBoardofDirectorsandthelegalrepresentativeoftheCompany.Fordetails,pleaserefertotheCompany'sAnnouncementonResolutionoftheFourteenthMeetingoftheEighthBoardofDirectors(No.:2022-24)onCNINF(http://www.cninfo.com.cn).II.Contactpersonandcontactmanner
Boardsecretary | SecuritiesaffairsRepresentative | |
Name | JiangPeng | LiZhenyu |
Contactaddress | 6/F,ShenfangBuilding,No.3HuaqiangNorthRoad,FutianDistrict,Shenzhen | 6/F,ShenfangBuilding,No.3HuaqiangNorthRoad,FutianDistrict,Shenzhen |
Tel | 0755-83776043 | 0755-83776043 |
Fax | 0755-83776139 | 0755-83776139 |
jiangp@chinasthc.com | lizy@chinasthc.com |
III.Other
1.WaytocontacttheCompanyWhetherregistrationsaddress,officesaddressandcodesaswellaswebsiteandemailoftheCompanychangedinreportingperiodornot
□Applicable□√NotApplicableTheregisteredaddress,officeaddressandtheirpostalcodes,websiteaddressandemailaddressoftheCompanydidnotchangeduringthereportingperiod.Thesaidinformationcanbefoundinthe2021AnnualReport.
2.InformationinquiryWhetherinformationdisclosureandpreparationplacechangedinreportingperiodornot
□Applicable√NotapplicableNoneoftheofficialpresses,website,andplaceofenquiryhasbeenchangedinthesemireportperiod.FordetailspleasefindtheAnnualReport2021.
3.OtherrelevantinformationDidanychangeoccurtootherrelevantinformationduringthereportingperiod?
□Applicable√NotapplicableIV.SummaryofAccountingdataandFinancialindexMaytheCompanymakeretroactiveadjustmentorrestatementoftheaccountingdataofthepreviousyears
□Yes√No
Reportingperiod
Reportingperiod | Sameperiodoflastyear | YoY+/-(%) | |
Operatingincome(RMB) | 1,445,137,309.09 | 1,101,536,407.38 | 31.19% |
Netprofitattributabletotheshareholdersofthelistedcompany(RMB) | 42,433,525.10 | 76,603,074.39 | -44.61% |
Netprofitafterdeductingofnon-recurringgain/lossattributabletotheshareholdersoflistedcompany(RMB) | 34,970,975.47 | 61,814,528.89 | -43.43% |
Cashflowgeneratedbybusinessoperation,net(RMB) | 79,438,234.59 | -52,643,536.25 | 250.90% |
Basicearningpershare(RMB/Share) | 0.0838 | 0.1509 | -44.47% |
Dilutedgainspershare(RMB/Share)(RMB/Share) | 0.0838 | 0.1509 | -44.47% |
WeightedaverageROE(%) | 1.50% | 2.74% | -1.24% |
Asattheendofthereportingperiod | Asattheendoflastyear | YoY+/-(%) | |
Totalassets(RMB) | 5,690,609,337.03 | 5,496,647,107.83 | 3.53% |
Netassetsattributabletoshareholderoflistedcompany(RMB) | 2,833,979,078.56 | 2,816,795,889.89 | 0.61% |
V.Differencesbetweenaccountingdataunderdomesticandoverseasaccountingstandards
1.DifferencesofnetprofitandnetassetsdisclosedinfinancialreportspreparedunderinternationalandChineseaccountingstandards.
□Applicable√NotapplicableNodifference.
2.DifferencesofnetprofitandnetassetsdisclosedinfinancialreportspreparedunderoverseasandChineseaccountingstandards.
□Applicable√NotapplicableTheCompanyhadnodifferenceofthenetprofitornetassetsdisclosedinfinancialreport,undereitherforeignaccountingrulesorChineseGAAP(GenerallyAcceptedAccountingPrinciples)intheperiod.VI.Itemsandamountofdeductednon-currentgainsandlosses
√Applicable□Notapplicable
InRMB
Items
Items | Amount | Notes |
Non-currentassetdisposalgain/loss(includingthewrite-offpartforwhichassetsimpairmentprovisionismade) | -11,114.72 | |
Govemmentsubsidyrecognizedincurrentgainandloss(excludingthosecloselyrelatedtotheCompany’sbusinessandgrantedunderthestate’spolicies) | 10,780,654.48 | Otherbenefitsofgovernmentsubsidiesthatareconfirmedrelatedtothemainbusiness. |
Othernon-businessincomeandexpendituresotherthantheabove | 1,555,024.76 | Itismainlyduetothecompensationforlosses. |
Less:Influencedamountofincometax | 113,018.21 | |
Influencedamountofminorshareholders’equity(aftertax) | 4,748,996.68 | |
Total | 7,462,549.63 |
Detailsofotherprofitandlossitemsthatmeetthenon-recurringprofitandlossdefinition
□Applicable√NotapplicableFortheCompany’snon-recurringgain/lossitemsasdefinedintheExplanatoryAnnouncementNo.1oninformationdisclosureforCompainesOfferingtheirSecuritiestothePublic-Non-recurringGainsandLossesanditsnon-recurringgain/lossitemsasillustratedintheExplanatoryAnnouncementNo.1oninformationDisclosureforCompaniesofferingtheirsecuritiestothepublic-non-recurringGainsandlosseswhichhavebeendefinedasrecurringgainsandlosses,itisnecessarytoexplainthereason.
□Applicable√NotapplicableNoneofNon-recurringgain/lossitemsrecorgnizedasrecurringgain/loss/itemsasdefinedbytheinformationdisclosureexplanatoryAnnouncementNo.1-Non–recurringgain/lossinthereportperiod.
III.ManagementDiscussion&AnalysisI.MainBusinesstheCompanyisEngagedinDuringtheReportPeriod(I)MainBusinesstheCompanyisEngagedinDuringtheReportPeriodThecompany'smainbusinesscoveredsuchthehighandnewtechnologyindustryasrepresentedbyLCDpolarizer,itsownpropertymanagementbusinessandtheretainedbusinessofhigh-endtextileandgarment.Duringthereportingperiod,theCompany'smainbusinesshasnotchangedsignificantly.First,theCompanycontinuouslyoptimizedtheproductstructure.Since2022,ithascontinuouslyoptimizedtheproductstructureandincreasedthemarketshareofhigh-marginproductsthroughtheadjustmentofinternalorderstructureandflexibleproduction;Second,itcontinuedtointroducenewprojects.Facingthedownwardmarketexpectation,theCompanymobilizedresourcestoactivelypromotetheimplementationofnewprojects;Third,itcontinuouslypromotedleanmanagement,strictlycontrolledmanufacturingcosts,reducedmaterialloss,strengthenedmaterialrecycling,andachievedall-roundcostreductionandefficiencyimprovement;Fourth,itfullypromotedtheprojectconstructionandrampupofLine7.Attheendoflastyear,itadjustedtheoperationstrategyofLine7.Inthefirsthalfoftheyear,Line7wasoptimizedandimprovedintermsofquality,processandequipment,theproductyieldwasgreatlyimproved,andtheunitconsumptionofmembranematerialsandchemicalsgraduallydecreased;Fifth,itfocusedonthesafetyguaranteeofrawmaterialsupplychainandtheriskofpriceincreaseofchemicalrawmaterials,andspeduptheevaluationanduseofchemicalalternativerawmaterials;Sixth,itstrengthenedthemanagementofinventoryandaccountsreceivable,improvedassetturnoverandreducedcapitaloccupation;Seventh,itjointlytackledwiththepandemic,activelyfulfilledsocialresponsibilities,andformulatedtheimplementationplanofrentreductionandexemptionfortheCompanyanditswholly-ownedenterprisesincombinationwiththeactualbusinesssituation,soastotideoverthedifficultieswiththemarketsubjects.Duringthereportingperiod,theCompanyachievedoperatingincomeofRMB1.445billion,withayear-on-yearincreaseof31.19%;RealizedatotalprofitofRMB70,445,600,withayear-on-yeardecreaseof41.93%;AndachievedanetprofitattributabletoshareholdersoflistedcompaniesofRMB42,433,500,withayear-on-yeardecreaseof44.61%.Themainreasonsforthedecreaseinnetprofitattributabletoshareholdersoflistedcompaniesinthisreportingperiodcomparedwiththesameperiodoflastyearareasfollows:First,theCompany'sLine7wasnotputintoproductioninthesameperiodoflastyear,andLine7enteredtherampupstageafteritwasputintoproductioninthesecondhalfof2021.Higherdepreciationandamortizationoffixedassetsledtohigherunitcostofproducts,andtheinterestofprojectloansafterLine7wastransferredtofixedassetswasincludedintheprofitandlossinthisreportingperiod;Second,thisyear,inordertojointlycopewiththeCOVID-19andactivelyfulfilltheirsocialresponsibilities,theCompanyanditswholly-ownedenterprisesreducedorexemptedtherentalofeligiblepropertiesfromMarch1,2022toAugust31,2022,andtherentalincomeinthisperioddecreasedsignificantlyyearonyear.Duringthereportingperiod,technicalindicatorssuchasyieldandlossrateofLine7werefurtherimproved,vehiclespeed,productionandsalesvolumewerefurtherenhanced,andthebusinessperformanceimprovedmonthbymonth.ExcludingtheincomparablefactorssuchasrampupofLine7,andrentreductionandexemption,theCompanyovercametheadversefactorssuchasthedownwardmarketandrisingrawmaterialprices,furtheroptimizedtheproductandcustomerstructure,andimprovedtheleanmanagementlevel.Comparedwiththesameperiodoflastyear,itmaintainedastableoperatingperformancethisreportingperiod.(II)Mainproductsandtheirpurposes
Currently,theCompanyhas7massproductionlinesforpolarizers,coveringTN,STN,TFT,OLED,3D,dyesheet,opticalfilmfortouchscreenandotherfields,mainlyusedinTV,NB,navigator,Monitor,vehicle,industrialcontrol,instruments,smartphones,wearabledevices,3Dglasses,sunglassesandotherproducts,thecompanyhasbecomeamainstreampanelcompanysuchasHuaxingOptoelectronics,BOE,Sharp,LGD,ShenzhenTianma,Huike,etc.bycontinuouslystrengtheningsaleschannelexpansionandbuildingitsownbrand.Qualifiedsuppliers.TheCompany'smainproductsmadeineachpolarizerproductionlineandtheirapplicationareasfollows:
Line | Place | Productbreadth | Plannedcapacity | Mainprojuct |
Line1 | Pingshan | 500mm | 600,000m2 | TN/STN/Dyepiece |
Line2 | Pingshan | 500mm | 1.2millionm2 | TN/STN/CSTN |
Line3 | Pingshan | 650mm | 1millionm2 | TFT |
Line4 | Pingshan | 1490mm | 6millionm2 | TFT |
Line5 | Pingshan | 650mm | 2millinm2 | TFT |
Line6 | Pingshan | 1490mm | 10millionm2 | TFT/OLED |
Line7 | Pingshan | 2500mm | 32millinm2 | TFT/OLED |
(III)Company'sbusinessmodel
ThepolarizerindustryhasgraduallyshiftedfromatraditionalbusinessmodelofR&D,production,andsalestoacustomer-centric,jointresearchanddevelopment,andcomprehensiveservicebusinessmodel.Byunderstandingcustomerneeds,jointresearchanddevelop,managehigh-standardproduction,manufacturehigh-qualityproducts,useadvancedpolarizerrollandattachingequipmenttocooperatewithdownstreampanelmanufacturers'productionlines,reduceproductionlinks,reduceproductionandtransportationcosts,andcreatevalueforcustomers,win-win.(IV)MajorfactorsfordrivingtheCompany'sperformanceReferto"III.Analysisoncorecompetitiveness"inthissectionfordetails.(V)Marketpositionofcompanyproducts
Currently,theCompanyisoneofthemajorR&D,productionandsalesenterprisesofpolarizersinChina,andistheleadingenterpriseinthedomesticpolarizerindustry.TheCompanymainlyfocusesonmediumandlarge-sizedpolarizerproducts,andmeanwhilehastheproductioncapacityofmulti-sizeandmulti-seriesproducts.Inthefuture,theCompanywillfurtheradjustandoptimizetheproductstructureandcustomerstructure,improvetheinternalmanagementlevel,optimizeandupgradetheproductiontechnologylevel,improvetheproductionefficiencyandproductquality,broadentheprocurementchannels,reducetheproductioncostandconsolidateandimprovethemarketcompetitiveness.II.AnalysisOncoreCompetitiveness
(I)Technologyadvantages.SAPOPhotoelectricisthefirstdomesticnationalhigh-techcompanywhichenteredintotheR&Dandproductionofthepolarizer,Weareoneofthelargest,mosttechnicalandprofessionalpolarizerR&Dteamsinthecountryandhasmorethan20yearsofoperatingexperienceinthepolarizerindustry.ProductsincludeTN-type,STN-type,IPS-TFT-type,VA-TFT-type,OLED,vehicle-mountedindustrialdisplay,flexibledisplay,3Dstereoandpolarizerforsunglasses,andopticalfilmfortouchscreens,etc.,Wehaveproprietarytechnologyforpolarizersandnewintellectualpropertyrightsforvariousnewproducts.Asoftheendofthisreport,SAPOPhotoelectricappliedfor119inventionpatentsandwasauthorizedwith91items,among
which:38domesticinventionpatents(16patentsgotauthorized);74domesticutilitymodelpatents(71patentsgotauthorized);1overseasinventionpatent(0patentsgotauthorized);6overseasutilitymodelpatents(4patentsgotauthorized).Therewere4nationalstandardsand2industrialstandardsthatweredevelopedbythecompanyareapprovedandthenwillbeimplemented.willbeimplemented.SAPOPhotoelectrichasthreeinnovativeplatforms:
GuangdongEngineeringTechnologyResearchCenter,ShenzhenPolarizingMaterialsandTechnologyEngineeringLaboratoryandShenzhenEnterpriseTechnologyCenter.ItfocusesontheR&DandindustrializationofLCDpolarizercoreproductiontechnology,thedevelopmentandindustrializationofOLEDpolarizernewproducts,andthelocalizationresearchofpolarizerrawmaterials,amongwhich,massproductionhasbeenachievedforOLEDTVpolarizerproductssuccessfully,fillingthedomesticgap.Byintroducingallkindsofprecisiontestequipment,itimproveslabtrialandpilot-scaletestmethods,andbuildsacollaborativeinnovationplatformforIndustry-University-Researchcooperation,toenhancetheR&Dlevelcomprehensively.(II)Talentsadvantages.TheCompanyhasapolarizermanagementteamandateamofseniortechnicianswithstrongtechnicalability,longcooperationtime,richexperienceandinternationalvision.ByestablishingatechnicalcooperationrelationshipwithNittoDenkoCorporation,aworld-classpolarizermanufacturer,theCompanylearnsadvancedpolarizerproductionmanagementconcepts,andmeanwhileaccumulatestechnicalexperiencethroughindependentinnovation,improvesitscorecompetitiveness,andgraduallyaccumulatesitsownbrand,technology,operationmanagementandotheradvantages.In2022,theCompanycontinuedtodeepenthemarket-orientedreform,practicedtheconceptof"Don'tracehorses",andsetagoodvanefortalentselectionandemployment;Itimprovedthetalentgrowthchannel,establishedthemanagementmethodofemployeepromotionbyrank,andhelpedemployeesgrowanddevelop;Itimprovedtheincentivemechanismofassessment,andfullyutilizedtheincentiveandspurroleofassessment;Activelyexploredthelong-termincentiveandrestraintoftheCompany'smanagementlevel,employeebenefitawarddistributionmechanism,EmployeeStockOwnershipPlan(ESOP),etc.,andbuiltavaluedistributionmechanismofbenefitsharingandriskpooling.(III)Marketadvantages.Thecompanyhasgoodcustomergroupsnotonlyindomesticmarketbutinforeignmarket,comparedwithforeignadvancedcounterparts,thebiggestadvantageliesinthelocalizationforsupporting,closetothepanelmarket,aswellasthestrongsupportofthenationalpolicy.Intermsofmarketdemand,withthemassproductionofthe10.5/11-generationTFT-LCDpanelproductionlinesunderconstructionandplannedforthenextfewyears,theproductioncapacityofhigh-generationTFT-LCDpanelsinmainlandChinawillincreasesignificantlyinthenextfewyears,thecorrespondingdomesticpolaroidfilmmarketdemandhasalsoincreased,andthedomesticmarketisthemostimportantmarketforpolaroidmanufacturers,especiallyinthelarge-sizepolarizermarket.Mainlandpolarizermanufacturerswillusherinimportantindustryopportunities;intermsofmarketdevelopment,thecompanytakesproductionmaterialcontrolasthecore,technologyservicesastheguide,customerneedsasthefocus,organicallycombinesproductionandsales,establishesarapidresponsemechanism,fullyexploitslocalizationadvantages,andusesitsownaccumulatedtechnologyandtalents,doesagoodjobofpeer-to-peerprofessionalservices,formsastablesupplychainandincreasesmarketshare.
(IV)Qualityadvantages.Thecompanyalwaysadheredtothequalitypolicyof"Satisfyingcustomerdemandsandpursuingexcellentquality"andfocusedonproductqualitycontrol.Thecompanystrictlycontrolsproductperformanceindicators,standardizesinspectionstandardsforincomingmaterials,startswithqualityimprovementandconsumptionreduction,andachievessimultaneousincreaseinoutputandquality;throughtheintroductionofamodernqualitymanagementsystem,theproductshavepassedISO9001QualityManagementSystemandISO14001EnvironmentalManagementSystem,OHSAS18000OccupationalHealthandSafetyManagementSystem,QCO80000SystemCertification;theproductistestedbySGSandmeetstheenvironmentalprotection,Thecompanyhadincreasedtheautomaticdetectingandmarkingequipmentsinthebeginningsectionandtheendingsection,strictlycontrolledtheproductqualityandimprovedtheproductutilizationrateand
productmanagementefficiency.
(V)Managementadvantages.SAPOPhotoelectrichasaccumulatedrichmanagementexperiencesinmorethan20yearsinthemanufacturingofpolarizer,possessingthehomemostadvancedcontroltechnologyoftheproductionmanagementprocessofthepolarizerandqualitymanagementtechnologyandthestablerawmaterialprocurementchannelsoforthmanagementsystems.Thecompanyhadcarriedoutcomprehensivebenchmarkingwork,organizedthemanagementpersonneltolearnadvancedexperiencesfromcustomersandpeerstoforcetheelevationofmanagementability,anddrewontheforeigncompany’smanagementexperiencesofpolarizer,optimizedthecompany'sorganizationalstructure,reducedthemanagerialhierarchyandfurtherenhancedthecompany'smanagementefficiency.Aftertheintroductionofthestrategicinvestor,ThroughclosecooperationwithJinjiangGroup,wecomplementeachother'sstrengths,absorbthevitalityofprivateenterprises,continuetoimplementadvancedmanagementsystems,reasonableincentivemechanisms,etc.,improvetheefficiencyofdecision-making,enhancethespeedofmarketresponse,improvetheresearchanddevelopmentincentivesystem,andalsorealizethedeepintegrationofthevalueofthecompanyanditsemployeesandstimulatesthenewvitalityofthebusiness.Throughtheimplementationofthekeyworkmanagementlistof"PracticalPartybuilding+,Leanpromotingdevelopment",continuouscostreductionandefficiencyincreasebyleanmeans;throughtheimplementationofthe"amoebaBusinessModel"project,smallindependentaccountingunit,toenablethegrassrootskeyemployeestoparticipateintheproductionandoperationactivities.(VI)Policyadvantages.PolarizerisseenasanessentialpartofthepaneldisplayindustryandSAPOPhotoelectricinitsdevelopmenthaspromotedthesupplycapacityofnationalpolarizers,greatlyloweredthedependenceofnationalpanelenterprisesonimportedpolarizers,andsafeguardedthenationalpanelindustry,whichservesasagoodfacilitatortoenhancingtheoverallcompetitivenessofChina'spanelindustrychainandcoordinateddevelopmentofthewholeindustrychainofthepaneldisplayindustryclusterinShenzhen.Recognizedasanationalhigh-techenterprise,theCompanyisentitledtothepreferentialpolicyforduty-freeimportofownproductiverawmaterialsthatcannotbeproducedathomeandfrequentlygainednational,provincialandmunicipalpolicyandfinancialsupportinitspolarizerprojects.Meanwhile,theCompanytightenedsuppliermanagement,improveditsoverallpurchasingstrategy,anddownsizedsupplierswhileintroducingacompetitivemechanism,whereinfocuswasgiventointroductionofnewmaterialsatacompetitiveprice,tofurtherloweritsproductioncostandimproveitsproductcompetitiveness.III.MainbusinessanalysisGeneralRefertorelevantcontentsof“1.Summarization”in“DiscussionandAnalysisofManagement”.Changesinthefinancialdata
InRMB
Thisreportperiod | Sameperiodlastyear | YOYchange(%) | Causechange | |
Operatingrevenue | 1,445,137,309.09 | 1,101,536,407.38 | 31.19% | ItismainlyduetotheincreaseinrevenuecausedbymassproductionofLine7. |
Operatingcost | 1,242,988,094.06 | 863,125,460.07 | 44.01% | ItismainlyduetotheincreaseincostcausedbymassproductionofLine7. |
Saleexpenses | 18,355,747.39 | 20,493,774.82 | -10.43% | |
Administrativeexpenses | 61,448,188.86 | 55,327,660.76 | 11.06% | |
Financialexpenses | -8,833,873.44 | -9,215,033.48 | -4.14% | ItismainlyduetothechangeofJapaneseYenexchangerateandtheincreasesignificantinexchangegainsduringthereportingperiod. |
Incometaxexpenses | 340,897.81 | 7,878,916.04 | -95.67% | Itismainlyduetothepolicyrentreductionduringthereportingperiod. |
R&DInvestment | 34,870,992.66 | 29,170,093.39 | 19.54% | |
Cashflowgeneratedbybusinessoperation,net | 79,438,234.59 | -52,643,536.25 | 250.90% | Itismainlytheincreasecausedbycustomers'earlypaymentandreceiptofgovernmentsubsidyfunds. |
Netcashflowgeneratedbyinvestment | -43,613,588.81 | -140,787,048.49 | -69.02% | Itismainlyduetothelackoflargeinvestmentprojectsinthisperiod. |
Netcashflowgeneratedbyfinancing | 9,714,117.19 | 169,127,412.92 | -94.26% | Itismainlyduetothelackoflargefinancinginthisperiod. |
Netincreasingofcashandcashequivalents | 46,252,547.23 | -25,343,472.73 | -282.50% | Itismainlyduetotheyear-on-yearincreaseinoperatingcashinflowduringthereportingperiod. |
Majorchangesinprofitcompositionorsourcesduringthereportperiod
□Applicable√NotapplicableTheprofitcompositionorsourcesoftheCompanyhaveremainedlargelyunchangedduringthereportperiod.ComponentofBusinessIncome
InRMB
Thisreportperiod | Sameperiodlastyear | Increase/decrease | |||
Amount | Proportion | Amount | Proportion | ||
Totaloperatingrevenue | 1,445,137,309.09 | 100% | 1,101,536,407.38 | 100% | 31.19% |
OnIndustry | |||||
Manufacturing | 1,391,737,535.43 | 96.30% | 1,041,558,118.32 | 94.56% | 33.62% |
LeaseandManagementofProperty | 33,272,224.20 | 2.30% | 55,866,608.49 | 5.07% | -40.44% |
Other | 20,127,549.46 | 1.40% | 4,111,680.57 | 0.37% | 389.52% |
OnProducts | |||||
Polarizersheet | 1,369,146,600.89 | 94.74% | 1,021,894,566.16 | 92.77% | 33.98% |
Textile | 22,590,934.54 | 1.56% | 55,866,608.49 | 5.07% | -59.56% |
LeaseandManagementofProperty | 33,272,224.20 | 2.30% | 19,663,552.16 | 1.79% | 69.21% |
Other | 20,127,549.46 | 1.40% | 4,111,680.57 | 0.37% | 389.52% |
Area | |||||
Domestic | 1,354,987,454.63 | 93.76% | 949,528,109.45 | 86.20% | 42.70% |
Overseas | 90,149,854.46 | 6.24% | 152,008,297.93 | 13.80% | -40.69% |
SituationofIndustry,ProductandDistrictOccupyingtheCompany’sBusinessIncomeandOperatingProfitwithProfitover10%
√Applicable□Notapplicable
InRMB
Turnover | Operationcost | Grossprofitrate(%) | Increase/decreaseofrevenueinthesameperiodofthepreviousyear(%) | Increase/decreaseofbusinesscostoverthesameperiodofpreviousyear(%) | Increase/decreaseofgrossprofitrateoverthesameperiodofthepreviousyear(%) |
OnIndustry | ||||||
Manufacturing | 1,391,737,535.43 | 1,229,319,979.91 | 11.67% | 33.62% | 45.09% | -6.98% |
LeaseandManagementofProperty | 33,272,224.20 | 10,682,243.01 | 67.89% | -40.44% | -12.64% | -10.22% |
Other | 20,127,549.46 | 2,985,871.14 | 85.17% | 389.52% | -17.33% | 73.01% |
OnProducts | ||||||
Polarizersheet | 1,369,146,600.89 | 1,204,852,305.21 | 12.00% | 33.98% | 44.97% | -6.67% |
Textile | 22,590,934.54 | 24,467,674.70 | -8.31% | 14.89% | 51.46% | -26.15% |
LeaseandManagementofProperty | 33,272,224.20 | 10,682,243.01 | 67.89% | -40.44% | -12.64% | -10.22% |
Other | 20,127,549.46 | 2,985,871.14 | 85.17% | 389.52% | -17.33% | 73.01% |
Area | ||||||
Domestic | 1,354,987,454.63 | 1,166,831,275.43 | 13.89% | 42.70% | 58.39% | -8.52% |
Overseas | 90,149,854.46 | 76,156,818.63 | 15.52% | -40.69% | -39.76% | -1.31% |
Undercircumstancesofadjustmentinreportingperiodforstatisticscopeofmainbusinessdata,adjustedmainbusinessbasedonlatestonyear’sscopeofperiod-end.
□Applicable√NotapplicableExplanationforayear-on–yearchangeofover30%
□Applicable√NotapplicableIV.AnalysisofNon-coreBusiness
√Applicable□Notapplicable
InRMB
Amount | Proportionintotalprofit | Explanationofcause | Sustainable(yesorno) | |
Investmentincome | 11,043,172.52 | 15.68% | Obtainingequityenterprisedividends,contractfees,timedepositandmoneyfundinterestincome | Havethesustainability |
Gainsandlossesonchangesinfairvalue | 0.00 | 0.00% | Havethesustainability | |
Impairmentofassets | -42,073,672.20 | -59.73% | Mainlyfromtheprovisionofinventorydepreciationloss. | Havethesustainability |
Non-operatingincome | 1,768,115.05 | 2.51% | Itismainlyduetothecompensationforlosses. | Notsustainable. |
Non-operatingexpense | 213,090.29 | 0.30% | Notsustainable. | |
Otherincome | 10,780,654.48 | 15.30% | Mainlyforgovernmentsubsidies. | Havethesustainability |
V.Analysisofassetsandliabilities
1.Significantchangesinassetcomposition
InRMB
EndofReportingperiod | Endofsameperiodoflastyear | Changeinpercentage(%) | Reasonforsignificantchange | |||
Amount | Asapercentageoftotalassets(%) | Amount | Asapercentageoftotalassets(%) | |||
Monetaryfund | 356,600,994.80 | 6.27% | 302,472,828.60 | 5.50% | 0.77% | |
Accountsreceivable | 703,849,983.33 | 12.37% | 479,998,708.57 | 8.73% | 3.64% |
Inventories | 781,404,848.10 | 13.73% | 667,461,447.03 | 12.14% | 1.59% |
RealestateInvestment | 102,672,477.07 | 1.80% | 106,217,779.76 | 1.93% | -0.13% |
Long-termequityinvestment | 134,756,614.83 | 2.37% | 133,022,325.77 | 2.42% | -0.05% |
Fixedassets | 2,375,066,361.03 | 41.74% | 2,424,741,252.86 | 44.11% | -2.37% |
Constructioninprocess | 23,222,687.28 | 0.41% | 71,482,031.08 | 1.30% | -0.89% |
Righttouseassets | 16,493,135.66 | 0.29% | 9,221,189.37 | 0.17% | 0.12% |
Short-termloans | 22,061,861.12 | 0.39% | 37,575,113.83 | 0.68% | -0.29% |
ContractLiabilities | 122,759.15 | 0.00% | 68,955.21 | 0.00% | 0.00% |
Long-termloans | 728,782,222.63 | 12.81% | 683,016,243.25 | 12.43% | 0.38% |
Leaseliabilities | 8,424,816.86 | 0.15% | 4,243,855.71 | 0.08% | 0.07% |
Financialassetstransaction. | 609,244,744.72 | 10.71% | 586,540,735.16 | 10.67% | 0.04% |
Otherreceivableaccount | 7,235,875.22 | 0.13% | 140,185,750.40 | 2.55% | -2.42% |
2.Majoroverseasassets
□Applicable√Notapplicable
3.AssetandLiabilitiesMeasuredbyFairValue
√Applicable□Notapplicable
InRMB
Items | Amountatyearbeginning | Gain/lossonfairvaluechangeinthereportingperiod | Cumulativefairvaluechangerecordedintoequity | Impairmentprovisionsinthereportingperiod | Purchasedamountinthereportingperiod | Soldamountinthereportingperiod | Otherchanges | Amountatyearend |
Financialassets | ||||||||
1.Financialassetsmeasuredatfairvaluethroughprofitorloss(excludingderivativefinancialassets) | 586,540,735.16 | 645,704,009.56 | 623,000,000.00 | 609,244,744.72 | ||||
4.OtherequityInstrumentInvestment | 186,033,829.72 | 186,033,829.72 | ||||||
Subtotaloffinancialassets | 772,574,564.88 | 645,704,009.56 | 623,000,000.00 | 795,278,574.44 | ||||
Othernon-currentfinancialassets | 30,650,943.40 | -2,150,943.40 | 28,500,000.00 | |||||
Total | 803,225,508.28 | 645,704,009.56 | 623,000,000.00 | -2,150,943.40 | 823,778,574.44 |
FinancialLiability | 0.00 | 0.00 |
OtherchangesNoneDidgreatchangetakeplaceinmeasurementoftheprincipalassetsinthereportingperiod?
□Yes√No
4.RestrictedassetrightsasoftheendofthisReportingPeriod
AsofJune30,2022,thecompany'srestrictedassetsaretheL/CdepositandcustomsdepositofthesubsidiarySAPOPhotoelectric,andthemortgagedassetsofthesubsidiarySAPOPhotoelectricformortgageloanapplicationfromthesyndicateledbyShenzhenBranchofBankofCommunications.Fordetails,pleasereferto"SectionXFinancialReportVII,Notes81toConsolidatedFinancialStatementsItem,AssetswithRestrictedOwnershiporUseRight"inthisreport.VI.AnalysisoninvestmentStatus
1.General
□Applicable√Notapplicable
2.ConditionofAcquiringSignificantShareRightInvestmentduringtheReportPeriod
□Applicable√Notapplicable
3.SituationoftheSignificantNon-equityInvestmentUndergoingintheReportPeriod
□Applicable√Notapplicable
4.InvestmentofFinancialAsset
(1)Securitiesinvestment
□Applicable√NotapplicableTherewasnoinvestmentinsecuritiesbytheCompanyintheReportingperiod.
(2)InvestmentinDerivatives
□Applicable√NotapplicableTheCompanyhadnoinvestmentinderivativesinthereportingperiod.
5.Applicationoftheraisedcapital
□Applicable√NotapplicableTheCompanyhadnoapplicationoftheraisedcapitalinthereportingperiod.VII.Salesofmajorassetsandequity
1.Salesofmajorassets
□Applicable√NotapplicableTheCompanyhadnosalesofmajorassetsinthereportingperiod.
2.SalesofmajorequityVIII.AnalysisoftheMainShareHoldingCompaniesandShareParticipatingCompanies
√Applicable□NotapplicableSituationofMainSubsidiariesandtheJoint-stockCompanywithover10%netprofitinfluencingtotheCompany
InRMB
Companyname | Type | Mainbusiness | Registeredcapital | Totalassets | Netassets | Turnover | Operatingprofit | NetProfit |
ShenzhenSAPOPhotoelectricCo.,Ltd. | Subsidiary | Productionandsalesofpolarizer | 583,333,333.00 | 4,400,059,283.76 | 2,925,112,224.50 | 1,390,584,901.04 | 67,311,121.92 | 68,873,644.92 |
ShenzhenBeautyCenturyGarmentCo.,Ltd. | Subsidiary | Productionoffullyelectronicjacquardknittingwholeshape | 13,000,000.00 | 50,663,794.27 | 13,831,114.66 | 22,742,894.72 | -4,416,615.83 | -4,407,303.85 |
ShenzhenLisiIndustrialCo.,Ltd. | Subsidiary | DomesticTrade,Propertymanagement | 2,360,000.00 | 34,901,327.67 | 27,907,335.13 | 2,543,367.01 | -994,627.29 | -913,775.22 |
ShenzhenHuaqiangHotel | Subsidiary | Accommodation,businesscenter; | 10,005,300.00 | 22,267,549.72 | 20,426,549.04 | 236,085.42 | 59,839.13 | 58,344.15 |
ShenzhenShenfangSungangPropertyManagementCo.,Ltd. | Subsidiary | Propertymanagement | 1,000,000 | 11,023,824.75 | 8,251,941.20 | 948,354.49 | -22,121.29 | -22,121.29 |
ShenfangPropertyManagementCo.,Ltd. | Subsidiary | Propertymanagement | 1,600,400.00 | 10,669,084.42 | 7,324,783.70 | 9,447,024.91 | 442,586.65 | 373,738.67 |
Shengtou(HK)Co.,Ltd. | Subsidiary | Salesofpolarizer | HKD10,000 | 6,315,269.67 | 6,288,397.35 | 0.00 | 304,319.52 | 304,319.52 |
Subsidiariesobtainedordisposedinthereportingperiod
□Applicable√Notapplicable
ThefinancialdataofSAPOPhotoelectricmentionedinthetableabovearethefinancialstatementsdataofitsparentcompanyandnon-consolidatedstatementsdata.FordetailsoftheperformancefluctuationandthereasonsforchangeofSAPOPhotoelectric,asubsidiary,pleasereferto"I.MainbusinessoftheCompanyduringthereportingperiod"in"SectionIIIManagementDiscussionandAnalysis".
IX.StructuredvehiclecontrolledbytheCompany
□Applicable√NotapplicableX.RisksfacingtheCompanyandcountermeasures
1.MacroeconomicriskAstheCOVID-19isstillspreadingallovertheworld,therearestillweaklinksinthepreventionandcontrolofdomesticpandemic,thefoundationofeconomicrecoveryisstillnotsolid,theconsumptionofresidentsisstillrestricted,andthedomesticdemandeconomywillcontinuetobeunderpressure.Asamemberoftheupstreammanufacturersinthemonitormarket,theCompanycan'truleouttheriskthatunpredictablemacroeconomicfluctuationsmayaffecttheCompany'sperformance
Countermeasures:Thecompanywillpaycloseattentiontotheinternationaleconomicsituation,studynationalpoliciesandindustrytrends,strengthenthetrackingandanalysisofmajorindustryinformation,andgraspthedevelopmentandchangetrendsoftheindustryinatimelymanner.Meanwhile,itwillcontinuouslyoptimizetheproductstructure,improvethemarketdevelopmentability,stimulatethevitalityofenterprisedevelopment,strengtheninternalmanagement,controloperationalrisksandensurethesteadydevelopmentofthecompany.
2.MarketriskThepolarizerindustryisanimportantpartofChina'sfuturemanufacturingdevelopment.Thedemandfordisplaypanelsandthedevelopmentofcorrespondingtechnologiesarechangingwitheachpassingday.Thedomesticsubstitutionprocessofthepolarizerindustryisunderway.Withthegradualmassproductionofthe10.5generationline,thesuper-largesizemarketNewchangeswillbeusheredin.Ifthecompany’stechnologyandproductscannotrespondtotheneedsoftheapplicationfieldintime,thewide-formatpolarizerproductsandapplicationsfallshortofexpectations,ortheintensifiedmarketcompetitioncausesthepriceofdisplayproductstofall,andthepressureofpricecutsistransmittedupwardstothepolarizermarket.Willhaveanadverseeffectonthecompany.
Countermeasures:Facingthecomplexmarketenvironment,ontheonehand,thecompanyhascomprehensivelybuilttheLine7projectasplanned,activelypromotedtheintroductionofnewproductclients,improvedproductbargainingpower,andstabilizedcustomerconfidence;Ontheotherhand,itkeepsclosecommunicationwithdemandcustomersandendcustomers,payscloseattentiontoproductdemandtrends,tapsmarketpotential,increasesmarketshare,continuouslyimprovesproductionlineyieldandutilization,enhancescorecompetitivenessanddealswithmarketrisks.
3.Riskofrawmaterial
Thecorepatentsofpolarizerterminalmaterialshavehightechnicalbarriersandarebasicallymonopolizedbyforeignmanufacturers.Thus,patentsarethemainreasonforlimitingthelocalizationofluminescentmaterials.Currently,thekeyrawmaterialsformanufacturingpolarizers,PVAfilmandTACfilm,arebasicallymonopolizedbyJapanesecompaniesandtheproductionlineandproductiontechnologyofupstreamsupportingrawmaterialsareconstrainedbytheJapaneseside.Comparedwiththeinternationalmanufacturer'scompleteindustrialchainmodelfromupstreamrawmaterialstopolarizerstodisplaypanels,theCompanydoesnothavethecorrespondingcompleteindustrialsupporttoplaytheroleinindustrialintegrationwhilethepriceofmajormembranematerialsisaffectedbythesupplier'sproductioncapacity,marketdemandandtheyenexchangerate,whichinfluencesthe
unitcostoftheCompany'sproducts.Countermeasures:Thecompanywillcontinuetooptimizethesupplychainsystem,improvethebargainingpowerwithsuppliers,increasetheR&Dofindependentintellectualpropertyrights,promotetheimportoflow-costrawmaterials,activelyexploretheimportsubstitutionofrawmaterials,improvetheutilizationandmaintainalowlevelofproductionlossrate,maintainproductionstabilityandcontinuity,andreduceproductproductioncosts;Ifnecessary,thecompanycanchooseexchangeratewealthmanagementproductssuchasforwardforeignexchangeandforeignexchangeoptionstoavoidexcessiveexchangelossescausedbysharpexchangeratefluctuations.
IV.CorporateGovernanceI.AnnualGeneralMeetingandProvisionalShareholders’MeetingsintheReportingPeriod
1.AnnualGeneralMeeting
Meeting | Type | Investorparticipationratio | Conveneddate | Disclosuredate | Indextodisclosedinformation |
TheFirstprovisionalGeneralMeetingof2022 | ProvisionalGeneralMeeting | 49.43% | January18,2022 | January19,2022 | AnnouncementNo.:2022-01www.cninfo.com.cn |
AnnualGeneralMeetingof2021 | AnnualGeneralMeeting | 49.50% | May19,2022 | May20,2022 | AnnouncementNo.:2022-16www.cninfo.com.cn |
2.PreferredshareholderswiththerestorationofvotingrightsmadearequestfortheSpecialMeetingofShareholders
□Applicable√NotapplicableII.Changeinsharesheldbydirectors,supervisorsandseniorexecutives
□Applicable√Notapplicablehecompany'sdirectors,supervisorsandseniormanagersdidnotchangeduringthereportingperiod,pleaserefertothe2021annualreportNote:ZhangJian,theformerChairmanoftheCompany,resignedonAugust2,2022.Fordetails,pleaserefertotheCompany'sAnnouncementontheResignationoftheChairmanoftheCompany(No.2022-23)onCNINF(http://www.cninfo.com.cn).OnAugust5,2022,theCompanyheldtheFourteenthMeetingoftheEighthBoardofDirectors,electedYinKefeiastheChairmanoftheEighthBoardofDirectors,nominatedWangChuanasacandidateforthenon-independentdirectoroftheEighthBoardofDirectors,andsubmittedtheappointmentofWangChuanasthedeputygeneralmanageroftheCompanytotheGeneralMeetingofShareholdersforelection.Asofthedisclosuredateofthisreport,exceptfortheabovechanges,otherdirectors,supervisorsandseniormanagementpersonneloftheCompanyhavenotchanged.III.Pre-planforprofitallocationandturningcapitalreserveintosharecapitalforthereportingperiod
□Applicable√NotapplicableTheCompanyplannednottodistributecashdividendandbonusshare,andnottoconvertcapitalreservesintosharecapitalinhalfyear.IV.Implementationofanyequityincentiveplan,employeestockownershipplanorotherincentivemeasuresforemployees
√Applicable□Notapplicable
1.EquityincentiveNotapplicable
2.ImplementationofESOP
√Applicable□NotapplicableAlleffectiveESOPsduringthereportingperiod
Scopeofemployees | Quantityofemployees | Totalnumberofsharesheld | Changeinformation | Proportionoftotalsharecapitaloflistedcompanies | Fundingsourcesforplanimplementation |
Directors,supervisors,seniormanagersandothercoretechnical/business/managementbackbonesoftheCompany(includingsubsidiaries,thesamebelow). | 126 | 1,403,600 | No | 0.28% | TheCompanyemployees'legalremuneration,self-raisedfundsandotherlegalwayspermittedbylawsandregulations. |
Shareholdingofdirectors,supervisorsandseniormanagersintheESOPduringthereportingperiod
Name | Position | Numberofsharesheldatthebeginningofthereportingperiod | Numberofsharesheldattheendofthereportingperiod | Proportionoftotalsharecapitaloflistedcompanies |
ZhangJian | Formerchairman | 114,206 | 114,206 | 0.02% |
ZhuMeizhu | Director,GeneralManager | 114,206 | 114,206 | 0.02% |
NingMaozai | Director,SecretaryofPartyCommittee | 28,551 | 28,551 | 0.01% |
LeKunjiu | Seniorconsultant | 57,103 | 57,103 | 0.01% |
LiuHonglei | DeputyGM | 57,103 | 57,103 | 0.01% |
HeFei | Director,CFO | 57,103 | 57,103 | 0.01% |
JiangPeng | SecretaryoftheBoard | 57,103 | 57,103 | 0.01% |
ZhanLumei | Employeesupervisor | 17,131 | 17,131 | 0.00% |
Changesinassetmanagementinstitutionsduringthereportingperiod
□Applicable√NotapplicableChangesinequitycausedbyholders'disposalofsharesduringthereportingperiod
√Applicable□NotapplicableDuringthereportingperiod,YangJuhuaandJiaoNan,theoriginalholdersoftheCompany'sfirstESOP,resignedforpersonalreasons.UponconfirmationbythemanagementcommitteeoftheCompany'sfirstESOP,theytransferredtheir50,000sharesinESOPtoLiuXiaohuiandLiuYiguang.Afterthetransfer,LiuXiaohui'sshareinthefirstESOPoftheCompanywaschangedfrom0to20,000shares.LiuYiguang'sshareinthefirstESOPoftheCompanywaschangedfrom50,000to700,000shares.
3.Otheremployeeincentives
□Applicable√Notapplicable
V.Environmental&SocialResponsibilityI.SignificantenvironmentalissuesWhethertheCompanyoranyofitssubsidiariesisidentifiedasakeypolluterbytheenvironmentauthorities
√Yes□No
Companyorsubsidiaryname | Mainpollutantandspecificpollutantname | Emissionway | Emissionportnumber | Emissionportdistributioncondition | Emissionconcentration(mg/Nm3) | Implementedpollutantemissionstandards | Totalemission | Verifiedtotalemission(Tons) | Excessiveemissioncondition |
ShenzhenBeautyCenturyGarmentCo.,Ltd. | Effluents:COD | Openchanneldischargeaftertreatment | 1 | Northwestsideofplantarea | <60mg/L | 60mg/L | <2.43t/a | 2.43t/a | No |
ShenzhenSAPOPhotoelectricCo.,Ltd. | Exhaustgas:Non-methanetotalhydrocarbon | Highemission | 2 | ThedischargeoutletissetontheeastoftheroofofNo.1 | <30mg/m3 | 120mg/m3 | 23.4t/a | 49.98t/a | No |
ShenzhenSAPOPhotoelectricCo.,Ltd. | Exhaustgas:Non-methanetotalhydrocarbon | Highemission | 2 | ThedischargeoutletissetontheeastoftheroofofNo.3 | <20mg/m3 | 50mg/m3 | 23.4t/a | 49.98t/a | No |
Preventionandcontrolofpollutionfacilitiesconstructionandoperation
1.BeautyCenturyCompanyTheBeautyCenturyCompanywastewatertreatmentfacilitiesadoptthetreatmentprocessesofregulation,hydrolysisacidification,coagulationandairflotation,contactoxidation,coagulationandsedimentationandfiltration.Itiswithstabletreatmentprocess,andgoodeffluenteffectofwastewatertreatment.Thewastewaterfromtheproductionprocesscanmeettheenvironmentalprotectionrequirementsafterbeingtreatedbywastewatertreatmentfacilities.
TheCompanyinvestedRMB960,000tobuildthereusesystemofreclaimedwater,andnowthereuseprojectofreclaimedwaterhasbeenacceptedandstartedoperation.Theuseofreclaimedwatercaneffectivelyreducewastewaterdischarge,and4,300tonsoftapwaterhavebeensavedinthereportingperiod.
2.SAPOPhotoelectric
RTOwastegasregenerativeincinerationprocessisadoptedfortheorganicwastegasproducedinallproductionlinesofSAPOPhotoelectric,andRTO+advancedtreatmentprocessisadoptedforLine7.RTOwastegastreatmentequipmentrunsstably,withgoodwastegastreatmenteffect.TheremovalrateofVOCsinorganicwastegasreachesover99%,whichcanfullymeettherequirementsofwastegasdischarge.Meanwhile,importedheatstoragematerialsareadoptedfortheequipment,withaheatstorageeffectof90%,andlowrunningenergyconsumptionoftheequipment;AfterRTOtreatment,thewastegasfromtheproductionprocessaftertreatmentcanmeetthedischargestandard.Thefirst-phasewastewatertreatmentfacilitiesofSAPOPhotoelectricareFenton+coagulatingsedimentation+UASBanaerobic+aerobic+MBRmembranewastewatertreatmentprocess,andthesecond-phasewastewatertreatmentfacilitiesareFenton+coagulating
sedimentation+UASBanaerobic+aerobic+MBRmembrane+MCspecialmembrane+evaporationzero-dischargewastewatertreatmentprocess(reusewatersystem).Ontheselectionofwastewatertreatmentprocess,SAPOhasselectedtheprocesswithstrongimpactloadresistance,stablesystemoperation,lowenergyconsumption,lowmaintenancecost,highdegreeofautomationandgoodeffluenteffect.Thewastewaterfromtheproductionprocesscanmeettheenvironmentalprotectionrequirementsofstandarddischargeafterbeingtreatedbywastewatertreatmentfacilities.
1.BeautyCenturyCompanyTheCompanycompliedwithrelevantenvironmentalprotectionregulationsatsuchthreestagesasprojectdesign,constructionandoperationandobtainedenvironmentalprotectionapprovalsneededateachcorrespondingstageincludingEIAreport,EIAapproval,environmentalprotectionacceptancedecisionandemissionpermitamongothers.
2.SAPOPhotoelectricTheCompanycompliedwithrelevantenvironmentalprotectionregulationsatsuchthreestagesasprojectdesign,constructionandoperationandobtainedenvironmentalprotectionapprovalsneededateachcorrespondingstageincludingenvironmentalimpactassessmentreport,EIAapproval,environmentalprotectionacceptancedecision,sewagedischargepermit,etc.shallbeavailable.andtheapplicationforenvironmentalemergencyplanshallbeapprovedbytherelevantdepartmentsforfiling.EmergencyPlanforEmergencyEnvironmentalIncidents
1.BeautyCenturyCompanyAccordingtotheactualsituationofthecompany,onSeptember16,2020,thepreparationoftheemergencyplanforemergencyenvironmentalincidentswascompleted,andanemergencyenvironmentalemergencyplanfilingapplication
2.SAPOPhotoelectricAccordingtotheactualsituationofthecompany,thepreparationoftheemergencyplanforemergencyenvironmentalincidentswascompleted,andanemergencyenvironmentalemergencyplanfilingapplication
1.BeautyCenturyCompany
Accordingtotheenvironmentalmanagementrequirementsofthepollutantdischargepermit,thespecificmonitoringschemeisasfollows:onceevery6hforpHvalueofwastewater,onceperdayforchroma,onceperdayforsuspendedsolids,onceperweekforbiochemicaloxygendemandinfivedays,onceevery6hforchemicaloxygendemand,onceperdayfortotalnitrogen,onceperdaytotalphosphorus,oncepermonthforsulfide,oncepermonthforaniline,onceperyearchlorinedioxide,andtwiceperyearforwastegasatfactoryboundary(onceeverysixmonths).
2.SAPOPhotoelectric
AccordingtothemonitoringrequirementsissuedbythemonitoringstationandtheoperationrequirementsofeachsystemofSAPOPhotoelectric,thespecificmonitoringplanisasfollows:8times/year(twiceeveryquarter)fororganicwastegas,4times/year(onceeveryquarter)forwastewaterdischarge,2times/year(onceeverysixmonths)forboilerwastegas,1time/yearforcanteenoilfume,2times/year(onceeverysixmonths)fornoiseatfactoryboundaryand1time/yearfordrinkingwater.Administrativepenaltiesforenvironmentalproblemsduringthereportingperiod
Nameofcompanyorsubsidiary | Reasonsforpunishment | Violationsituation | Penaltyresult | Impactontheproductionandoperationoflisted | Company'srectification |
companies | measures | ||||
No | No | No | No | No | No |
OtherEnvironmentalInformationThatShouldBeDisclosedNoneMeasuresandeffectstakentoreduceitscarbonemissionsduringthereportingperiod
□Applicable√Notapplicable
OtherEnvironmentalRelatedInformationNotapplicableII.Socialresponsibilities
(I)Protectionofshareholders'rightsandinterests
Duringthereportingperiod,theCompanyabidedbylawsandregulations,operatedincompliancewithregulations,andconstantlyimproveditsgovernancestructureandfurtherstandardizedtheCompany'soperationinstrictaccordancewiththerequirementsoftheCompanyLaw,theSecuritiesLawandtheGovernanceGuidelinesforListedCompaniesandotherlawsandregulations.Itadheredtotheproceduresystemofgeneralmeetingofshareholders,BoardofDirectors,BoardofSupervisorsandindependentdirectorsasthecore,furtherimprovedthecorporategovernancestructureandvariousmanagementsystems,constantlyimprovedtheinternalcontrolsystemintheprocessoftheCompany'soperationandmanagement,tookeffectiveoperationalriskpreventionmeasures,earnestlysafeguardedandprotectedshareholders'rightsandinterests,andlaidasolidfoundationforthehealthyandsustainabledevelopmentoftheCompany.IndependentdirectorspaidcloseattentiontotheCompany'soperation,putforwardmanyvaluableprofessionalsuggestionsfortheCompany'sdailyoperationandkeyconcerns,andplayedanimportantroleinimprovingthesupervisionmechanismandsafeguardingthelegitimaterightsandinterestsoftheCompanyandallshareholders.TheCompanystrictlyfulfilleditsobligationofinformationdisclosureaccordingtolaw,truly,accurately,completely,timelyandfairlydisclosedinformationthathasasignificantimpactoninvestmentdecision-making.Thedisclosurecontentwasconciseandeasytounderstand,fullyrevealedrisks,andfacilitatedallshareholderstoconsult.Accordingtoregulatoryrequirements,itfurthercombedandimprovedrelevantsystemsandenhancedthequalityofinformationdisclosure.
Duringthereportingperiod,theCompanyfurtherimprovedtheinformationdisclosureandinformationtransparency,fulfilledtheobligationofinformationdisclosureinstrictaccordancewithregulatoryrequirements,communicatedwithinvestorsthroughvariouschannels,answeredquestionsraisedbyinvestorsinatimelymanner,andimprovedinformationtransparency.Meanwhile,itcooperatedwithregulatoryauthoritiestosafeguardtherightsandinterestsofinvestors,especiallysmallandmedium-sizedinvestors,andrealizedthebenigninteractionandharmoniousdevelopmentbetweeninvestorsandlistedcompanies.
(II)Protectionofemployees'rightsandinterests
Accordingtotheenterprisedevelopmentstrategy,theCompanyfurtherrevisedandimprovedthehumanresourcemanagementsystem.Itestablishedlaborrelationsbyenteringintolaborcontractswithemployees,andimplementnecessarymanagementforemployeesaccordingtotheLaborLawandrelevantmanagementregulationsoftheCompany.TheCompanyestablishedascientificassessmentanddistributionsystemaccordingtotheclassificationofseniormanagers,departmentmanagersandemployees,establishedasystematicandstandardizedperformanceassessmentandevaluationsystem,andconductedacomprehensive,objective,fairandaccurateassessmentofemployees'performanceofdutiesandtasks,whichisusedasthebasisfordeterminingemployees'remunerations,rewardsandpunishmentsandappointments.
In2022,theCompanyhasmadeeffortstocreateagoodcorporatecultureatmosphere,regularlyorganizedface-to-facecommunicationbetweencompanyleadersandgroupemployeesandcorebackbonesofsubordinate
enterprises,strengthenedcareforemployees'psychology,enhancedemployees'senseofacquisitionandbelonging,andbettercaredforandhelpedemployees'growth;Meanwhile,itactivelyguidedandassistedsubordinateenterprisestopromotethestandardizationofhumanresourcemanagement,strengthenedthescientificationandstandardizationofhumanresourcemanagement,avoidedlaborrisks,improvedthelevelofhumanresourcemanagement,andfurthermobilizedemployees'workenthusiasm.
(III)EnvironmentalprotectionStrivingtobuildamodern"greenenterprise"istheCompany'slong-termpositiveresponsibility.Weinsistonbuildingthewholeprocessofgreencycleintheindustrialchain,realizingtherealgreencycleeconomy,improvingthequalityoftheCompany'ssurroundingenvironmentandescortingtheCompany'sproduction.Duringthereportingperiod,theOSBLnoise,industrialwastewaterandwastegasemissionsintheCompany'sproductionprocessallpassedthemonitoringoftheenvironmentalprotectiondepartment,andcompliedwiththestandardrequirementsofrelevantlawsandregulations.andnomajorenvironmentalincidentsoccurred.Inaddition,theCompanyvigorouslyadvocatedgreenoffice,carriedoutvariousformsofenvironmentalprotectionpublicityandeducationactivities,raisedemployees'awarenessofenergyconservationandemissionreduction,realizedthecoordinateddevelopmentofproduction&operationandenvironmentalprotection,andearnestlyfulfilledsocialresponsibilities.(IV)Protectionofconsumers'rightsandinterestsTheCompanyhasbeenadheringtothecorevaluesof"honestyorientedandresponsibilityfirst".Beingresponsibleforcustomersisthesourceofourenterprisevalue.Itisourunremittingpursuittoprovidecustomerswithprofessional,personalizedandall-roundproductsandservices.Withcustomerdemandasthecore,continuouslyinnovatingtoservecustomers,andcontinuouslyimprovingandenhancingproductqualityarethedrivingforcefortheCompanytoachievegoodperformanceandsustainabledevelopment,andalsoanimportantguaranteetowincustomers'long-termtrust.Ithasprovidedactiveattentiontocustomerneeds,quickresponsetocustomerfeedback,sincereconsiderationforcustomersandpromotionoflong-termcooperativepartnership.
VI.ImportantEvents
I.Thefulfilledcommitmentsinthereportingperiodandunder-fulfillmentcommitmentsbytheendofthereportingperiodmadebythecompany,shareholder,actualcontroller,acquirer,director,supervisor,seniormanagementpersonnelandotherrelatedparities.
√Applicable□Notapplicable
Commitment | Commitmentmaker | Type | Contents | Timeofmakingcommitment | Periodofcommitment | Fulfillment |
Commitmentonsharereform | ShenzhenInvestmentHoldingsCo.,Ltd. | Sharereductioncommitment | AsShenzhenInvestmentHoldingsCo.,Ltd.,thecontrollingshareholderofthecompany,committedwhentherestricted-for-salesharesfromthesharesrestructuringwerelistedforcirculationinthemarket:i.iftheyplantosellthesharesthroughthesecuritiesexchangesysteminthefuture,andthedecreaseofthesharestheyholdreaches5%within6monthsafterthefirstdecrease,theywilldiscloseanannouncementindicatingthesalethroughthecompanywithintwotradingdaysbeforethefirstdecrease;ii.Theyshallstrictlyobservethe“GuidelinesonTransferofRestricted-for-saleOriginalSharesofListedCompanies”andtheprovisionsoftherelevantbusinessprinciplesofShenzhenStockExchange. | August4,2006 | Sustainedandeffective | UnderFulfillment |
Commitmentsmadeuponissuance | ShenzhenInvestmentHoldingsCo.,Ltd. | Commitmentsonhorizontalcompetition,relatedtransactionandcapitaloccupation | ShenzhenInvestmentHoldingsCo.,Ltd.signeda“LetterofCommitmentandStatementonHorizontalCompetitionAvoidance”whenthecompanyissuednon-publicstocksin2009.PursuanttotheLetterofCommitmentandStatement,ShenzhenInvestmentHoldingsCo.,Ltd.anditswhollyownedsubsidiary,subsidiariesundercontroloranyothercompaniesthathaveactualcontrolofitshallnotbeinvolvedinthebusinessthesameasorsimilartothoseShenzhenTextilecurrentlyorwillruninthefuture,oranybusinessesoractivitiesthatmayconstitutedirectorindirectcompetitionwithShenzhenTextile;iftheoperationsofShenzhenInvestmentHoldingsCo.,Ltd.anditswhollyownedsubsidiaries,subsidiariesundercontrolorothercompaniesthathaveactualcontrolofitcompetewithShenzhenTextileinthesameindustryorcontradicttheinterestoftheissuerinthefuture,ShenzhenInvestmentHoldingsCo.,Ltd.shallurgesuchcompaniestoselltheequity,assetsorbusinesstoShenzhenTextileorathirdparty;whenthehorizontalcompetitionmayoccurduetothebusinessexpansionconcurrentlynecessaryforShenzhenInvestmentHoldingsCo.,Ltd.anditswhollyownedsubsidiaries,subsidiariesundercontrolorothercompaniesthathaveactualcontrolofitandShenzhenTextile,ShenzhenTextileshallhavepriority. | October9,2009 | Sustainedandeffective | UnderFulfillment |
Commitmentsmadeuponissuance | ShenzhenInvestmentHolding | Commitmentsonhorizontalcompetition,related | Thecommitmentsduringtheperiodnon-publicissuancein2012:1.ShenzhenInvestmentHoldings,asthecontrollingshareholderofShenzhenTextile,currentlyhasn'ttheproductionandbusinessactivitiesofinter-industry | July14,2012 | Sustainedandeffective | UnderFulfillment |
sCo.,Ltd. | transactionandcapitaloccupation | competitionwithShenzhenTextileoritsshare-holdingsubsidiary.2.ShenzhenInvestmentHoldingsanditsshare-holdingsubsidiariesorotherenterprisesownedtheactualcontrolrightscan'tbedirectlyandindirectlyonbehalfofanyperson,companyorunittoengageinthesameorsimilarbusinessinanydistrictsinthefuturebytheformofshare-holding,equityparticipation,jointventure,cooperation,partnership,contract,lease,etc.,andensurenottousethecontrollingshareholder'sstatustodamagethelegitimaterightsandinterestsofShenzhenTextileandothershareholders,ortogaintheadditionalbenefits.3.Iftherewillbethesituationofinter-industrycompetitionwithShenzhenTextileforShenzhenInvestmentHoldingsanditsshare-holdingsubsidiariesorotherenterprisesownedtheactualcontrolrightsinthefuture,ShenzhenInvestmentHoldingswillpromotetherelatedenterprisestoavoidtheinter-industrycompetitionthroughthetransferofequity,assets,businessandotherways.4.AbovecommitmentswillbecontinuouslyeffectiveandirrevocableduringShenzhenInvestmentHoldingsasthecontrollingshareholderofShenzhenTextileorindirectlycontrollingShenzhenTextile. | ||
Executedtimelyornot? | Yes | |||
Ifthecommitmentsfailedtocompletetheexecutionwhenexpired,shouldspecificallyexplainthereasonsofunfulfillmentandthenetstageoftheworkingplan | Notapplicable |
II.Particularsaboutthenon-operatingoccupationoffundsbythecontrollingshareholder
□Applicable√NotapplicableNosuchcasesinthereportingperiod.III.Illegalprovisionofguaranteesforexternalparties
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
IV.EngagementanddisengagementofCPAsfirmWhetherthesemi-annualfinancialreporthasbeenaudited
□Yes√NoThesemi-annualfinancialreportoftheCompanyhasnotbeenauditedV.Notesfor“non-standardauditreport”ofCPAsfirmduringtheReportingPeriodbyboardofdirectorsandsupervisoryboard
□Applicable√NotapplicableVI.Notesfortherelatedinformationof“non-standardauditreports”lastyearbyboardofdirectors
□Applicable√NotapplicableVII.Bankruptcyandrestructuring
□Applicable√NotapplicableNosuchcasesinthereportingperiod.VIII.Litigationsandarbitrations
√Applicable□Notapplicable
Basicsituationoflitigation(arbitration) | Amountinvolved(tenthousandyuan) | Whethertoformestimatedliabilities | Litigation(arbitration)progress | Litigation(arbitration)trialresultsandimpact | Implementationoflitigation(arbitration)judgments | Disclosuredate | Disclosureindex |
JinhangFundv.SAPOPhotoelectricforDissolutionDispute | ThecasewasheardinPingshanDistrictPeople'sCourtonJuly15,2022,andnojudgmenthasyetbeenmade | No | ThecasewasheardinPingshanDistrictPeople'sCourtonJuly15,2022,andnojudgmenthasyetbeenmade | Unfinishedtrial | Undecided | June24,2022 | (http://www.cninfo.com.cn)AnnouncementNo.:2022-20 |
Otherlitigationmatters
√Applicable□Notapplicable
Basicsituationoflitigation(arbitration) | Amountinvolved(tenthousandyuan) | Whethertoformestimatedliabilities | Litigation(arbitration)progress | Litigation(arbitration)trialresultsandimpact | Implementationoflitigation(arbitration)judgments | Disclosuredate | Disclosureindex |
ArbitrationofcontractdisputebetweenShengbooptoelectronicsandNexteyecompanyofSouthKorea | 1,217.87 | No | ThecasewasheardattheShenzhenInternationalArbitrationCourtonFebruary9,2022,andthesecondhearingwasconductedintheformofonlinevideoonMay12,2022.Incombinationwiththeactualsituationofthiscase,thearbitrationtribunalhasextendedthetrialtimelimitofthiscasefromJune13toSeptember15,2022. | Unfinishedtrial | ThearbitrationtribunalhasextendedthetrialperiodofthiscasefromJune13,2022toSeptember15,2022 | ||
TheCompanyv.ShenzhenAdministrationforMarketRegulationforRevocationofCancellationofShenzhenXieli | 0 | No | ThecasewasheardinthesecondinstanceonApril27,2022.TheShenzhenIntermediatePeople'sCourtmadethejudgmentonJune28,2022:1.RevoketheadministrativejudgmentY0308XCNo.1883ofthePeople'sCourtofYantianDistrict,ShenzhenCity,GuangdongProvince(2021);II.RemandtoYantianDistrictPeople'sCourt,ShenzhenCity,GuangdongProvinceforretrial.OnJuly22,2022,theCompanyreceivedthesummonsfromYantianDistrictPeople'sCourt,ShenzhenCity,GuangdongProvince,andthetrialofthiscaseisscheduledonAugust25,2022. | Unfinishedtrial | YantianDistrictPeople'sCourtofShenzhenCity,GuangdongProvinceisscheduledtoholdahearingonAugust25,2022forretrialofthiscase | / | |
ZhengWenhuiv.JintianIndustrial(Group)Co.,Ltd.andtheCompanyforHouseSalesContractDispute | 0 | No | ThecasewasheardinthefirstinstanceonFebruary24,2022.ShenzhenLuohuDistrictPeople'sCourtmadeajudgmentonApril20,2022:1.ConfirmthattheHouseSalesAgreementsignedbytheplaintiffZhengWenhuiandthedefendantJintianIndustrial(Group)Co.,Ltd.onMay28,2021islegalandvalid;II.DefendantsJintian | Finishedtrial | Theplaintiffhasappliedforenforcement | / |
Industrial(Group)Co.,Ltd.andShenzhenTextile(Group)Co.,Ltd.shallassisttheplaintiffZhengWenhuiinhandlingthetransferformalitiesforRoom1-802ofTextileIndustryCompany,FenghuangRoad,LuohuDistrict,Shenzhen(RealEstateCertificateNo.:SFDZiNo.0042588).Thejudgmenthascomeintoeffect. | ||||||
ManagerofShenzhenShenbaoTextileIndustryandTradeCo.,Ltd.v.TheCompany,ShenzhenYuanxingchangIndustrialCo.,Ltd.andSuXingbinforLiquidationLiabilityDispute | 256.75 | No | ThecasewasheardinthefirstinstanceonMay27,2022andJune30,2022.ShenzhenLuohuDistrictPeople'sCourthasnotyetmadeafirst-instancejudgment. | Unfinishedtrial | / |
IX.Punishmentsandrectifications
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.X.CreditconditionsoftheCompanyaswellasitscontrollingshareholderandactualcontroller
□Applicable√NotapplicableXI.Materialrelatedtransactions
1.Relatedtransactionsinconnectionwithdailyoperation
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
2.Related-partytransactionsarisingfromassetacquisitionorsold
□Applicable√Notapplicable
Nosuchcasesinthereportingperiod.
3.Related-partytransitionswithjointinvestments
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
4.Creditsandliabilitieswithrelatedparties
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
5.Transactionswithrelatedfinancecompany,especiallyonethatiscontrolledbytheCompany
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
6.TransactionswithrelatedfinancecompanycontrolledbytheCompany
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
7.Othersignificantrelated-partytransactions
□Applicable√NotapplicableNosuchcasesinthereportingperiod.XII.SignificantcontractsandexecutionI.Entrustments,contractingandleasing
(1)Entrustment
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
(2)Contracting
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
(3)Leasing
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
II.SignificantGuarantees
√Applicable□Notapplicable
(1)Guarantees
InRMB10,000
GuaranteeoftheCompanyforthecontrollingsubsidiaries(Excludecontrolledsubsidiaries) | ||||||||||
NameoftheCompany | Relevantdisclosuredate/No.oftheguaranteedamount | AmountofGuarantee | Dateofhappening(Dateofsigningagreement) | Actualmountofguarantee | Guaranteetype | Guaranty(Ifany) | Counter-guarantee(Ifany) | Guaranteeterm | Completeimplementationornot | Guaranteeforassociatedparties(Yesorno) |
Guaranteeofthecompanyforitssubsidiaries
Guaranteeofthecompanyforitssubsidiaries | ||||||||||
NameoftheCompany | Relevantdisclosuredate/No.oftheguaranteedamount | AmountofGuarantee | Dateofhappening(Dateofsigningagreement) | Actualmountofguarantee | Guaranteetype | Guaranty(Ifany) | Counter-guarantee(Ifany) | Guaranteeterm | Completeimplementationornot | Guaranteeforassociatedparties(Yesorno) |
SAPOPhotoelectric | March18,2020 | 48,000 | September8,2020 | 43,647.06 | Guaranteeingofjointliabilities | Twoyearsfromthedateofexpirationoftheprincipaldebt | No | No | ||
Totalofguaranteeforsubsidiariesapprovedintheperiod(B1) | 0 | Totalofactualguaranteeforsubsidiariesintheperiod(B2) | 2,734.32 | |||||||
Totalofguaranteeforsubsidiariesapprovedatperiod-end(B3) | 48,000 | Totalofactualguaranteeforsubsidiariesatperiod-end(B4) | 43,647.06 | |||||||
Guaranteeofthesubsidiariesforthecontrollingsubsidiaries | ||||||||||
NameoftheCompany | Relevantdisclosuredate/No.oftheguaranteedamount | AmountofGuarantee | Dateofhappening(Dateofsigningagreement) | Actualmountofguarantee | Guaranteetype | Guaranty(Ifany) | Counter-guarantee(Ifany) | Guaranteeterm | Completeimplementationornot | Guaranteeforassociatedparties(Yesorno) |
TheCompany’stotalguarantee(i.e.totalofthefirstthreemainitems) | ||||||||||
Totalguaranteequotaapprovedinthereportingperiod(A1+B1+C1) | 0 | Totalamountofguaranteeactuallyincurredinthereportingperiod(A2+B2+C2) | 2,734.32 | |||||||
Totalguaranteequotaalready | 48,000 | Totalbalanceoftheactualguaranteeatthe | 43,647.06 |
approvedattheendofthereportingperiod(A3+B3+C3) | endofthereportingperiod(A4+B4+C4) | ||
TheproportionofthetotalamountofactuallyguaranteeinthenetassetsoftheCompany(thatisA4+B4+C4)% | 15.40% | ||
Including: |
DescriptionoftheguaranteewithcomplexmethodNoneIII.SituationofEntrustedFinance
√Applicable□Notapplicable
InRMB10,
Specifictype | Sourceoffundsforentrustedfinancialmanagement | TheOccurredAmountofEntrustedWealth-management | Unduebalance | Amountoverdue | Un-recoveredofoverdueamount |
Bankfinancialproducts | Selffund | 43,000.00 | 43,000.00 | 0 | 0 |
Other | Selffund | 71,964.93 | 17,882.81 | 0 | 0 |
Total | 114,964.93 | 60,882.81 | 0 | 0 |
Thedetailedinformationofentrustedwealth-managementwithsignificantamountorlowsafety,poorliquidityorhighriskwithnopromiseofprincipal
√Applicable□Notapplicable
InRMB10,000
NameofTrusteeOrganization(orTrusteeName) | TypeofTrusteeOrganization(orTrustee) | ProductType | Amount | CapitalSource | StartDate | ExpiryDate | FundsAllocation | MethodofRewardDetermination | ReferenceAnnualizedRateofReturn | ExpectedIncome(ifany) | Actualprofitandlossduringthereportingperiod | Theactualrecoveryofprofitandlossduringthereportingpe | Amountofprovisionforimpairment(ifany) | Whetherpassedthestatutoryprocedure | Whetherthereisanyentrustedfinancialplaninthefuture | Summaryofeventsandrelatedsearchindex(ifany) |
riod | ||||||||||||||||
BankofChina | Bank | Structuraldeposits | 30,000 | Selffunds | June30,2022 | December28,2022 | moneymarketinstrument | RedemptiononTday,arrivalonT+1day | 3.70% | 555 | 0 | Notexpired | 0 | Yes | Notapplicable | (http://www.cninfo.com.cn)AnnouncementNo.:2021-64 |
Total | 30,000 | -- | -- | -- | -- | -- | -- | 555 | 0 | -- | 0 | -- | -- | -- |
Entrustedfinancingappearstobeunabletorecovertheprincipalortheremaybeothercircumstancesthatmayresultinimpairment
□Applicable√NotapplicableIV.Othersignificantcontract
√Applicable□Notapplicable
CompanyNameofthePartyMakingthecontract | CompanyNameoftheOtherPartyoftheContract | ContractObject | ContractSigningDate | BookValueoftheAssetsInvolvedbytheContract(RMB10,000)(IfAny) | AssessedValueoftheAssetsInvolvedbytheContract(RMB10,000) | AppraisalAgencyName(IfAny) | BaseDateofAssessment(ifany) | PricingPrinciple | TransactionPrice(RMB10,000) | WhetherARelatedTraction | ConnectionRelation | ExecutionConditionAsOfTheEndOfTheReportingPeriod | DateofDisclosure | DisclosureIndex |
SAPOPhotoelectric | HangzhouJinjiangGroupCo.,Ltd.,KunshanZhiqimeiMaterial | NittoDenkoprovidespolarizermanufacturingtechnologyandrelated | November6,2017 | No | Consideringtheformulationofmarketpriceandtechnicalserviceperiod,thefinaltransactionpriceisbasedonthe | 86,900 | No | Withnoassociationrelationshipwi | Innormalperformance | November7,2017 | Http://www.cninfo.com.cn:(AnnouncementNo.:2017-53)onNovember7,2017 |
TechnologyCo.,Ltd.,JapanNittoDenkoCorporation | corporation. | commercialnegotiationresultsofbothparties. | ththecompany |
XIII.Explanationonothersignificantevents
√Applicable□Notapplicable(I)Progressofpolarizerindustrializationprojectforultra-largeTV(Line7)Duringthereportingperiod,thetechnicalindicatorssuchasyieldandlossrateofLine7improvedmonthbymonth,theproductioncapacityincreased,andtheCompany'soperatingperformanceimprovedmonthbymonth.ThemainproductsofLine7havebeenverifiedbycustomers,theordervolumehasgraduallyincreased,andtheunitmanufacturingcostofproductshasgraduallydecreased.WiththesmoothprogressofLine7ramp-up,itwillhaveapositivefollow-upimpactontheCompany'soperatingperformance.(II)RegardingtheinvestmentintheconstructionoftheRTSrearcuttingproductionlineIn2021,uponcarefuldemonstration,theCompanyincreasedinvestmentintheconstructionofacuttingproductionlineattheback-endofRTS,withatotalinvestmentofnomorethanRMB30million;AsofJune30,2022,thesignedcontractamountwasRMB25,402,400,andtheactualpaymentwasRMB19,789,800;AsofJune30,2022,theCompanyhasovercometheadverseeffectscausedbythepandemic.Atpresent,themainequipmentoftheprojecthasbeenmanufacturedandmobilized,andthefollow-upinstallationandcommissioningarebeingcarriedoutinanorderlymanneraccordingtotheconstructionandproductionscheduleofthecustomer'sproductionline.
(III)ThedisposalofassetsofthejointventurecompanyXieliAutomobilemobileCo.,Ltd.ShenzhenXieliAutomobilemobileEnterpriseCo.,Ltd.(hereinafterreferredtoas"ShenzhenXieli")isaSino-foreignjointventureinvestedandestablishedbythecompanyandHongKongXieliMaintenanceCompanyin1981,witharegisteredcapitalof3.12millionyuan,andthecompanyholds50%oftheequity.Thecompany'soperatingperiodendedin2008,anditsbusinesslicensewasrevokedin2014.Thecompany'smainassetisrealestate.TheindustrialandcommerciallicenseofShenzhenXieliwascancelledinMarch2020,buttherearestillthreepropertiesunderitsname,thedisposalofwhichisrequiredtoberesolvedafterfurtherconsultationbetweentheshareholdersofbothparties.
OnJuly26,2021,theCompanyfiledalawsuitwithYantianDistrictPeople'sCourtinShenzhenCity,GuangdongProvincetorevokethecancellationofShenzhenXieliAutomobilemobileEnterpriseCo.,Ltd.approvedbyShenzhenAdministrationforMarketRegulationonMarch9,2020,onwhichthecourtgaveajudgmentonNovember21,2021torevokethecancellationofShenzhenXieliAutomobilemobileEnterpriseCo.,Ltd.approvedbyShenzhenAdministrationforMarketRegulation.OnDecember3andDecember6,2021,HongKongXiliandShenzhenMarketSupervisionAdministrationsubmittedappealstotheShenzhenIntermediatePeople'sCourt,respectively.OnApril18,2022,theCompanyreceivedthenoticeofthesecondtrialfromShenzhenIntermediatePeople'sCourt.ThecasewasheardinthesecondinstanceonApril27,2022.TheShenzhenIntermediatePeople'sCourtmadethejudgmentonJune28,2022:1.RevoketheadministrativejudgmentY0308XCNo.1883ofthePeople'sCourtofYantianDistrict,ShenzhenCity,GuangdongProvince(2021);II.RemandtoYantianDistrictPeople'sCourt,ShenzhenCity,GuangdongProvinceforretrial.OnJuly
22,2022,theCompanyreceivedthesummonsfromYantianDistrictPeople'sCourt,ShenzhenCity,GuangdongProvince,andthetrialofthiscaseisscheduledonAugust25,2022.(IV)ReductionoftherentoftheCompany'sownpropertyinresponsetoCOVID-19pandemicInordertojointlyrespondtothepandemicandactivelyfulfillsocialresponsibilities,accordingtoSeveralMeasuresofShenzhenonFurtherHelpingMarketSubjectstoSolveProblemsinResponsetoCOVID-19(SF[2022]No.28)issuedbyShenzhenMunicipalGovernment,andinaccordancewiththerelevantworkrequirementsofShenzhenSASAC,theCompanyhasformulatedtheimplementationplanofrentreductionandexemptionfortheself-ownpropertyoftheCompanyanditswholly-ownedenterprises,totideoverthedifficultieswithmarketsubjectsandhelpwinthewarofepidemicpreventionandcontrol.
TheimpactofthepropertyrentreductionoftheCompanyanditswholly-ownedenterprisesontheCompany'soperatingincomein2022isexpectedtobenomorethanRMB30.35million,accountingforabout
1.3%oftheauditedoperatingincomein2021;TheimpactontheCompany'snetprofitattributabletoitsparentcompanyin2022isestimatedtobeaboutRMB30.24million,accountingforabout49.4%oftheauditednetprofitattributabletoitsparentcompanyin2021.TheimpactofthisrentreductionontheCompany'soperatingincomeandnetprofitattributabletoitsparentcompanyin2022istheunauditedestimateddata,whichisonlyusedbyinvestorstounderstandtheimpactofthisrentreductionontheCompany,andit'ssubjecttotheactualexecutedamount.Fordetails,pleaserefertotheCompany'sannouncementNo.2022-19onCNINF(http://www.cninfo.com.cn).XIV.SignificanteventofsubsidiaryoftheCompany
√Applicable□Notapplicable
(I)TheprogressofthelawsuitoftheCompanyanditsholdingsubsidiariesv.JinhangFundv.SAPOPhotoelectricfordissolutiondisputeInJuly2022,theCompanyanditsholdingsubsidiarySAPOPhotoelectricrespectivelyreceivedthelegaldocumentssuchasNoticeofParticipationinLitigation,NoticeofRespondencetoAction,SummonandCivilComplaint,withacasenumberof(2022)Y0310MCNo.3507,servedbyPingshanDistrictPeople'sCourt,ShenzhenCity,GuangdongProvince,andwereinformedthatthecourthadacceptedHangzhouJinhangEquityInvestmentFundPartnership(LimitedPartnership)(hereinafterreferredtoas"JinhangFund")v.SAPOPhotoelectricfordissolutiondispute,andtheCompanywasinformedtoparticipateinthelawsuitasapartytothecase,andSAPOPhotoelectricwasinformedtorespondasthedefendanttothecase.Fordetails,pleaserefertotheCompany'sAnnouncementNo.2022-20onCNINF(http://www.cninfo.com.cn).
ThecasewasheardinPingshanDistrictPeople'sCourt,ShenzhenCity,GuangdongProvinceat9:30onJuly15,2022,andnojudgmenthasyetbeenmade.
(II)ProgressinsubsidiariesparticipatingintheestablishmentofindustrialfundsOnNovember16,2017,thecompany'scontrollingsubsidiarySAPOPhotoelectricsignedtheChangxingJunyingEquityInvestmentPartnership(LimitedPartnership)AgreementwiththefundmanagerHuizhiInvestmentManagementCo.,Ltd,generalpartnerJinxinInvestmentCo.,Ltdandotherlimitedpartners,andco-sponsoredtheestablishmentofanindustrialfund,focusingontheopticalfilmindustrychainrelatedprojectsrelatedtothecompany'smainbusiness,withafundsizeof50millionyuan.SAPOPhotoelectric,asoneofthelimitedpartnersoftheindustrialfund,subscribedforacapitalcontributionof28.5millionyuan.FordetailsJuchaoWebsite:
(http://www.cninfo.com.cn.(AnnouncementNo.2017--55).OnFebruary10,2018,ChangxingJunyingEquityInvestmentPartnershipcompletedtheindustrialandcommercialregistrationandcompletedtheprivateequityinvestmentfundregistrationonFebruary8,2018.For
detailsJuchaoWebsite:(http://www.cninfo.com.cn.(AnnouncementNo.2018--05).
Inordertooptimizethestrategiclayoutandsupplementtheworkingcapital,SAPOPhotoelectricandHangzhouYuanzhenInvestmentManagementCo.,Ltd.(hereinafterreferredtoasYuanzhenInvestment)signedtheTransferAgreementonPropertyShareofChangxingJunyingEquityInvestmentPartnership(LimitedPartnership)onJuly11,2022,andtransferredtheshareofChangxingFundheldbySAPOPhotoelectrictoYuanzhenInvestmentatatransactionconsiderationofRMB28.5million.Afterthispropertysharetransfer,theCompanywillwithdrawfromChangxingFundandnolongerholdthepartnershipshareofChangxingFund.Fordetails,pleaserefertotheCompany'sAnnouncementNo.2022-21onJuchaoInformationNetwork(http://www.cninfo.com.cn).
VI.ChangeofsharecapitalandshareholdingofPrincipalShareholdersI.Changesinsharecapital
1.Changesinsharecapital
Inshares
Beforethechange | Increase/decrease(+,-) | AftertheChange | |||||||
Amount | Proportion | Shareallotment | Bonusshares | Capitalizationofcommonreservefund | Other | Subtotal | Quantity | Proportion | |
1.Shareswithconditionalsubscription | 72,000 | 0.01% | 0 | 0 | 0 | 0 | 0 | 72,000 | 0.01% |
1.State-ownedshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
2.State-ownedlegalpersonshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
3.Otherdomesticshares | 72,000 | 0.01% | 0 | 0 | 0 | 0 | 0 | 72,000 | 0.01% |
Incl:Domesticlegalpersonshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
DomesticNaturalPersonshares | 72,000 | 0.01% | 0 | 0 | 0 | 0 | 0 | 72,000 | 0.01% |
4.Foreignshare | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
Incl:Foreignlegalpersonshare | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
ForeignNaturalPersonshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
II.Shareswithunconditionalsubscription | 506,449,849 | 99.99% | 0 | 0 | 0 | 0 | 0 | 506,449,849 | 99.99% |
1.CommonsharesinRMB | 457,021,849 | 90.23% | 0 | 0 | 0 | 0 | 0 | 457,021,849 | 90.23% |
2.Foreignsharesindomesticmarket | 49,428,000 | 9.76% | 0 | 0 | 0 | 0 | 0 | 49,428,000 | 9.76% |
3.Foreignsharesinforeignmarket | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
4.Other | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
III.Totalofcapitalshares | 506,521,849 | 100.00% | 0 | 0 | 0 | 0 | 0 | 506,521,849 | 100.00% |
Reasonsforsharechanged
□Applicable√NotapplicableApprovalofChangeofShares
□Applicable√NotapplicableOwnershiptransferofsharechanges
□Applicable√NotapplicableProgressonanysharerepurchase:
□Applicable√NotapplicableProgressonreducingtherepurchasedsharesbymeansofcentralizedbidding:
□Applicable√NotapplicableInfluenceonthebasicEPSanddilutedEPSaswellasotherfinancialindexesofnetassetspershareattributabletocommonshareholdersofCompanyinlatestyearandperiod
□Applicable√NotapplicableOtherinformationnecessarytodiscloseforthecompanyorneedtodisclosedunderrequirementfromsecurityregulators
□Applicable√Notapplicable
2.Changeofshareswithlimitedsalescondition
□Applicable√NotapplicableII.Securitiesissueandlisting
□Applicable√NotapplicableIII.Shareholdersandactualcontrollingshareholder
1.Numberofshareholdersandshareholding
InShares
Totalnumberofcommonshareholdersattheendofthereportingperiod | 26,670 | Totalnumberofpreferredshareholdersthathadrestoredthevotingrightattheendofthereportingperiod(ifany)(note8) | 0 | |||||
Particularsaboutsharesheldabove5%byshareholdersortoptenshareholders | ||||||||
Shareholders | Natureofshareholder | Proportionofsharesheld(%) | Numberofsharesheldatperiod-end | Changesinreportingperiod | Amountofrestrictedsharesheld | Amountofun-restrictedsharesheld | Numberofsharepledged/frozen | |
Stateofshare | Amount | |||||||
ShenzhenInvestmentHoldingsCo.,Ltd. | State-ownedlegalperson | 46.21% | 234,069,436 | 0 | 234,069,436 | |||
ShenzhenShenchaoTechnologyInvestmentCo.,Ltd. | State-ownedLegalperson | 3.18% | 16,129,032 | 0 | 16,129,032 | |||
SunHuiming | DomesticNatureperson | 1.19% | 6,008,653 | 0 | 6,008,653 | |||
DengYan | DomesticNatureperson | 1.17% | 5,928,200 | 934,400 | 5,928,200 | |||
SuWeipeng | DomesticNatureperson | 0.68% | 3,423,010 | 599,944 | 3,423,010 | Pledge | 2,800,000 | |
ZhangMuxiu | DomesticNatureperson | 0.45% | 2,298,800 | 490,000 | 2,298,800 | |||
QiJianhong | DomesticNatureperson | 0.44% | 2,218,800 | 0 | 2,218,800 | |||
HouXiulan | DomesticNatureperson | 0.38% | 1,946,191 | 340,800 | 1,946,191 | |||
WangZhongjing | DomesticNatureperson | 0.37% | 1,872,900 | 80,300 | 1,872,900 | |||
LiZengmao | DomesticNatureperson | 0.35% | 1,760,097 | -322,900 | 1,760,097 | |||
Strategyinvestorsorgenerallegalpersonbecomestop10shareholdersduetorightsissued | None |
(ifapplicable)(SeeNotes3) | ||||
Explanationonshareholdersparticipatinginthemargintradingbusiness | Amongthetop10commonshareholders,ShenzhenInvestmentHoldingsCo.,Ltd.andShenzhenShenchaoTechnologyInvestmentCo.,Ltd.donotconstituteaconcertedpartyrelationship.Inaddition,thecompanydoesnotknowwhetherthereisanassociatedrelationshipamongthetop10ordinaryshareholders,andbetweenthetop10ordinaryshareholdersandthetop10shareholders,orwhethertheyarepersonstakingconcertedactiondefinedinAdministrativeMeasuresfortheAcquisitionofListedCompanies. | |||
Aboveshareholdersentrustingorentrustedwithvotingrights,orwaivingvotingrights | None | |||
Top10shareholdersincludingthespecialaccountforrepurchase(ifany)(seenote10) | None | |||
Shareholdingoftop10shareholdersofunrestrictedshares | ||||
Nameoftheshareholder | Quantityofunrestrictedsharesheldattheendofthereportingperiod | Sharetype | ||
Sharetype | Quantity | |||
ShenzhenInvestmentHoldingsCo.,Ltd. | 234,069,436 | CommonsharesinRMB | 234,069,436 | |
ShenzhenShenchaoTechnologyInvestmentCo.,Ltd. | 16,129,032 | CommonsharesinRMB | 16,129,032 | |
SunHuiming | 6,008,653 | Foreignsharesindomesticmarket | 6,008,653 | |
DengYan | 5,928,200 | CommonsharesinRMB | 5,928,200 | |
SuWeipeng | 3,423,010 | CommonsharesinRMB | 3,423,010 | |
ZhangMuxiu | 2,298,800 | CommonsharesinRMB | 2,298,800 | |
QiJianhong | 2,218,800 | CommonsharesinRMB | 2,218,800 | |
HouXiulan | 1,946,191 | CommonsharesinRMB | 1,946,191 | |
WangZhongjing | 1,872,900 | CommonsharesinRMB | 1,872,900 | |
LiZengmao | 1,760,097 | CommonsharesinRMB | 1,760,097 | |
Explanationonassociatedrelationshiporconsistentactionamongthetop10shareholdersofnon-restrictednegotiablesharesandthatbetweenthetop10shareholdersofnon-restrictednegotiablesharesandtop10shareholders | Amongthetop10commonshareholders,ShenzhenInvestmentHoldingsCo.,Ltd.andShenzhenShenchaoTechnologyInvestmentCo.,Ltd.donotconstituteaconcertedpartyrelationship.Inaddition,thecompanydoesnotknowwhetherthereisanassociatedrelationshipamongthetop10ordinaryshareholders,andbetweenthetop10ordinaryshareholdersandthetop10shareholders,orwhethertheyarepersonstakingconcertedactiondefinedinAdministrativeMeasuresfortheAcquisitionofListedCompanies. |
Whethertoptencommonshareholdersortoptencommonshareholderswithun-restrictsharesheldhaveabuy-backagreementdealinginreportingperiod.
□Yes√NoThetoptencommonshareholdersortoptencommonshareholderswithun-restrictsharesheldoftheCompanyhavenobuy–backagreementdealinginreportingperiod.IV.Changesinshareholdingsofdirectors,supervisorsandexecutiveofficers
□Applicable√NotapplicableTherewasnochangeinshareholdingofdirectors,supervisorsandseniormanagementstaffs,forthespecificinformationpleaserefertothe2021AnnualReportV.ChangeofthecontrollingshareholderortheactualcontrollerChangeofthecontrollingshareholderinthereportingperiod
□Applicable√NotApplicableTherewasnoanychangeofthecontrollingshareholderoftheCompanyinthereportingperiod.Changeoftheactualcontrollerinthereportingperiod
□Applicable√NotapplicableTherewasnoanychangeoftheactualcontrolleroftheCompanyinthereportingperiod.
VIII.SituationofthePreferredShares
□Applicable√NotapplicableTheCompanyhadnopreferredsharesinthereportingperiod
IX.CorporateBond
□Applicable√Notapplicable
X.FinancialReportI.Auditreport
Hasthissemi-annualreportbeenaudited?
□Yes√NoThesemi-annualfinancialreporthasnotbeenaudited.II.FinancialStatementsStatementinFinancialNotesarecarriedinRMB/CNY
1.ConsolidatedbalancesheetPreparedby:ShenzhenTextile(Holdings)Co.,Ltd.
InRMB
Items | June30,2022 | January1,2022 |
Currentasset: | ||
Monetaryfund | 356,600,994.80 | 302,472,828.60 |
Settlementprovision | ||
Outgoingcallloan | ||
Transactionalfinancialassets | 609,244,744.72 | 586,540,735.16 |
Derivativefinancialassets | ||
Notereceivable | 37,121,033.18 | 149,942,880.28 |
Accountreceivable | 703,849,983.33 | 479,998,708.57 |
Financingofreceivables | 51,434,865.61 | 21,474,101.07 |
Prepayments | 70,367,096.83 | 15,406,619.53 |
Insurancereceivable | ||
Reinsurancereceivable | ||
ProvisionsofReinsurancecontractsreceivable | ||
Otheraccountreceivable | 7,235,875.22 | 140,185,750.40 |
Including:Interestreceivable | 85,062.56 | |
Dividendreceivable | ||
Repurchasingoffinancialassets | ||
Inventories | 781,404,848.10 | 667,461,447.03 |
Contractassets | ||
Assetsheldforsales | ||
Non-currentassetduewithin1year | ||
Othercurrentasset | 95,692,488.61 | 29,503,352.42 |
Totalofcurrentassets | 2,712,951,930.40 | 2,392,986,423.06 |
Non-currentassets: | ||
Loansandpaymentonother’sbehalfdisbursed | ||
Creditor'srightinvestment | ||
Othercreditor'srightinvestment | ||
Long-termreceivable | ||
Longtermshareequityinvestment | 134,756,614.83 | 133,022,325.77 |
Otherequityinstrumentsinvestment | 186,033,829.72 | 186,033,829.72 |
Othernon-currentfinancialassets | 28,500,000.00 | 30,650,943.40 |
Realestateinvestment | 102,672,477.07 | 106,217,779.76 |
Fixedassets | 2,375,066,361.03 | 2,424,741,252.86 |
Constructioninprogress | 23,222,687.28 | 71,482,031.08 |
Productionphysicalassets | ||
Oil&gasassets | ||
Userightassets | 16,493,135.66 | 9,221,189.37 |
Intangibleassets | 46,573,386.32 | 48,635,160.00 |
Developmentexpenses | ||
Goodwill | ||
Long-germexpensestobeamortized | 4,713,174.78 | 5,387,295.94 |
Deferredincometaxasset | 3,664,968.67 | 3,708,596.78 |
Othernon-currentasset | 55,960,771.27 | 84,560,280.09 |
Totalofnon-currentassets | 2,977,657,406.63 | 3,103,660,684.77 |
Totalofassets | 5,690,609,337.03 | 5,496,647,107.83 |
Currentliabilities | ||
Short-termloans | 22,061,861.12 | 37,575,113.83 |
LoanfromCentralBank | ||
Borrowingfunds | ||
Transactionalfinancialliabilities | ||
Derivativefinancialliabilities | ||
Notespayable | 46,425,031.27 | 16,682,324.12 |
Accountpayable | 408,582,168.10 | 283,643,842.23 |
Advancereceipts | 17,006,276.84 | 1,805,311.57 |
Contractliabilities | 122,759.15 | 68,955.21 |
Sellingofrepurchasedfinancialassets | ||
Deposittakingandinterbankdeposit | ||
Entrustedtradingofsecurities | ||
Entrustedsellingofsecurities | ||
Employees’wagepayable | 54,087,482.76 | 59,719,860.24 |
Taxpayable | 2,759,752.29 | 9,200,627.09 |
Otheraccountpayable | 139,364,842.98 | 201,317,421.35 |
Including:Interestpayable | 0.00 | |
Dividendpayable | ||
Feesandcommissionspayable | ||
Reinsurancefeepayable | ||
Liabilitiesheldforsales | ||
Non-currentliabilityduewithin1year | 9,045,873.71 | 5,175,393.52 |
Othercurrentliability | 40,146,023.59 | 27,523,903.58 |
Totalofcurrentliability | 739,602,071.81 | 642,712,752.74 |
Non-currentliabilities: | ||
Reservefundforinsurancecontracts | ||
Long-termloan | 728,782,222.63 | 683,016,243.25 |
Bondpayable | ||
Including:preferredstock | ||
Sustainabledebt | ||
Leaseliability | 8,424,816.86 | 4,243,855.71 |
Long-termpayable | ||
Long-termremunerationpayabletostaff | ||
Expectedliabilities | 29,710,962.81 | 30,741,055.00 |
Deferredincome | 113,665,605.84 | 110,461,293.15 |
Deferredincometaxliability | 61,740,035.56 | 61,642,660.91 |
Othernon-currentliabilities | ||
Totalnon-currentliabilities | 942,323,643.70 | 890,105,108.02 |
Totalofliability | 1,681,925,715.51 | 1,532,817,860.76 |
Owners’equity |
Sharecapital | 506,521,849.00 | 506,521,849.00 |
Otherequityinstruments | ||
Including:preferredstock | ||
Sustainabledebt | ||
Capitalreserves | 1,961,599,824.63 | 1,961,599,824.63 |
Less:Sharesinstock | ||
Othercomprehensiveincome | 119,757,875.07 | 119,682,119.05 |
Specialreserve | ||
Surplusreserves | 98,245,845.47 | 98,245,845.47 |
Commonriskprovision | ||
Retainedprofit | 147,853,684.39 | 130,746,251.74 |
Totalofowner’sequitybelongtotheparentcompany | 2,833,979,078.56 | 2,816,795,889.89 |
Minorityshareholders’equity | 1,174,704,542.96 | 1,147,033,357.18 |
Totalofowners’equity | 4,008,683,621.52 | 3,963,829,247.07 |
Totalofliabilitiesandowners’equity | 5,690,609,337.03 | 5,496,647,107.83 |
LegalRepresentative:YinKefeiPerson-in-chargeoftheaccountingwork:HeFeiPerson-in-chargeoftheaccountingorgan:ZhuJingjing
2.ParentCompanyBalanceSheet
InRMB
Items | June30,2022 | January1,2022 |
Currentasset: | ||
Monetaryfund | 97,107,787.70 | 130,270,313.58 |
Transactionalfinancialassets | 609,244,744.72 | 586,540,735.16 |
Derivativefinancialassets | ||
Notereceivable | ||
Accountreceivable | 10,912,315.67 | 7,935,911.24 |
Financingofreceivables | ||
Prepayments | 726,145.30 | |
Otheraccountreceivable | 12,952,469.33 | 14,383,631.68 |
Including:Interestreceivable | ||
Dividendreceivable | ||
Inventories | 37,293.80 | 39,131.60 |
Contractassets | ||
Assetsheldforsales | ||
Non-currentassetduewithin1year | ||
Othercurrentasset | ||
Totalofcurrentassets | 730,980,756.52 | 739,169,723.26 |
Non-currentassets: | ||
Creditor'srightinvestment | ||
Othercreditor'srightinvestment | ||
Long-termreceivable | ||
Longtermshareequityinvestment | 2,090,804,820.92 | 2,089,070,531.86 |
Otherequityinstrumentsinvestment | 169,974,388.84 | 169,974,388.84 |
Othernon-currentfinancialassets | ||
Realestateinvestment | 95,061,667.85 | 98,174,132.57 |
Fixedassets | 19,259,962.92 | 20,255,108.56 |
Constructioninprogress | ||
Productionphysicalassets | ||
Oil&gasassets |
Userightassets | ||
Intangibleassets | 372,046.54 | 454,036.00 |
Developmentexpenses | ||
Goodwill | ||
Long-germexpensestobeamortized | ||
Deferredincometaxasset | 3,632,513.56 | 3,672,545.57 |
Othernon-currentasset | 55,760,086.27 | 55,790,497.23 |
Totalofnon-currentassets | 2,434,865,486.90 | 2,437,391,240.63 |
Totalofassets | 3,165,846,243.42 | 3,176,560,963.89 |
Currentliabilities | ||
Short-termloans | ||
Transactionalfinancialliabilities | ||
Derivativefinancialliabilities | ||
Notespayable | ||
Accountpayable | 411,743.57 | 411,743.57 |
Advancereceipts | 12,040,217.78 | 639,024.58 |
Contractliabilities | ||
Employees’wagepayable | 14,822,675.01 | 16,712,946.96 |
Taxpayable | 2,544,728.33 | 1,943,470.48 |
Otheraccountpayable | 115,465,471.73 | 116,648,650.39 |
Including:Interestpayable | ||
Dividendpayable | ||
Liabilitiesheldforsales | ||
Non-currentliabilityduewithin1year | ||
Othercurrentliability | ||
Totalofcurrentliability | 145,284,836.42 | 136,355,835.98 |
Non-currentliabilities: | ||
Long-termloan | ||
Bondpayable | ||
Including:preferredstock | ||
Sustainabledebt | ||
Leaseliability | ||
Long-termpayable | ||
Long-termremunerationpayabletostaff | ||
Expectedliabilities | ||
Deferredincome | 350,000.00 | 400,000.00 |
Deferredincometaxliability | 58,100,175.34 | 58,002,800.69 |
Othernon-currentliabilities | ||
Totalnon-currentliabilities | 58,450,175.34 | 58,402,800.69 |
Totalofliability | 203,735,011.76 | 194,758,636.67 |
Owners’equity | ||
Sharecapital | 506,521,849.00 | 506,521,849.00 |
Otherequityinstruments | ||
Including:preferredstock | ||
Sustainabledebt | ||
Capitalreserves | 1,577,392,975.96 | 1,577,392,975.96 |
Less:Sharesinstock | ||
Othercomprehensiveincome | 108,838,294.41 | 108,762,538.39 |
Specialreserve | ||
Surplusreserves | 98,245,845.47 | 98,245,845.47 |
Retainedprofit | 671,112,266.82 | 690,879,118.40 |
Totalofowners’equity | 2,962,111,231.66 | 2,981,802,327.22 |
Totalofliabilitiesandowners’equity | 3,165,846,243.42 | 3,176,560,963.89 |
3.ConsolidatedIncomestatement
InRMB
Items | Thefirsthalfyearof2022 | Thefirsthalfyearof2021 |
I.Incomefromthekeybusiness | 1,445,137,309.09 | 1,101,536,407.38 |
Incl:Businessincome | 1,445,137,309.09 | 1,101,536,407.38 |
Interestincome | ||
Insurancefeeearned | ||
Feeandcommissionreceived | ||
II.Totalbusinesscost | 1,353,000,511.71 | 963,183,000.35 |
Incl:Businesscost | 1,242,988,094.06 | 863,125,460.07 |
Interestexpense | ||
Feeandcommissionpaid | ||
Insurancedischargepayment | ||
Netclaimamountpaid | ||
Netamountofwithdrawalofinsurancecontractreserve | ||
Insurancepolicydividendpaid | ||
Reinsuranceexpenses | ||
Businesstaxandsurcharge | 4,171,362.18 | 4,281,044.79 |
Salesexpense | 18,355,747.39 | 20,493,774.82 |
Administrativeexpense | 61,448,188.86 | 55,327,660.76 |
R&Dcosts | 34,870,992.66 | 29,170,093.39 |
Financialexpenses | -8,833,873.44 | -9,215,033.48 |
Including:Interestexpense | 15,882,534.27 | 379,800.97 |
Interestincome | 773,863.34 | -840,978.40 |
Add:Otherincome | 10,780,654.48 | 8,764,569.01 |
Investmentgain(“-”forloss) | 11,043,172.52 | 10,152,132.35 |
Incl:investmentgainsfromaffiliates | 1,658,532.04 | -412,713.12 |
Financialassetsmeasuredatamortizedcostceasetoberecognizedasincome | ||
Gainsfromcurrencyexchange | ||
Netexposurehedgingincome | ||
Changingincomeoffairvalue | 914,599.37 | |
Creditimpairmentloss | -2,985,253.53 | -4,347,598.84 |
Impairmentlossofassets | -42,073,672.20 | -52,628,070.13 |
Assetsdisposalincome | -11,114.72 | -55.96 |
III.Operationalprofit(“-”forloss) | 68,890,583.93 | 101,208,982.83 |
Add:Non-operationalincome | 1,768,115.05 | 20,437,452.38 |
Less:Non-operatingexpense | 213,090.29 | 344,978.92 |
IV.Totalprofit(“-”forloss) | 70,445,608.69 | 121,301,456.29 |
Less:Incometaxexpenses | 340,897.81 | 7,878,916.04 |
V.Netprofit | 70,104,710.88 | 113,422,540.25 |
(I)Classificationbybusinesscontinuity | ||
1.Netcontinuingoperatingprofit | 70,104,710.88 | 113,422,540.25 |
2.Terminationofoperatingnetprofit | ||
(II)Classificationbyownership | ||
1.Netprofitattributabletotheownersofparentcompany | 42,433,525.10 | 76,603,074.39 |
2.Minorityshareholders’equity | 27,671,185.78 | 36,819,465.86 |
VI.Netafter-taxofothercomprehensiveincome | 75,756.02 | -5,049,289.77 |
Netofprofitofothercomprehensiveincomeattributabletoownersoftheparentcompany. | 75,756.02 | -5,049,289.77 |
(I)Othercomprehensiveincomeitemsthatwillnotbereclassifiedintogains/lossesinthesubsequentaccountingperiod | -1,003,968.91 | |
1.Re-measurementofdefinedbenefitplansofchangesinnetdebtornetassets |
2.Othercomprehensiveincomeundertheequitymethodinvesteecannotbereclassifiedintoprofitorloss. | ||
3.Changesinthefairvalueofinvestmentsinotherequityinstruments | -1,003,968.91 | |
4.Changesinthefairvalueofthecompany’screditrisks | ||
5.Other | ||
(II)Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss. | 75,756.02 | -4,045,320.86 |
1.Othercomprehensiveincomeundertheequitymethodinvesteecanbereclassifiedintoprofitorloss. | ||
2.Changesinthefairvalueofinvestmentsinotherdebtobligations | ||
3.Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | ||
4.Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations | ||
5.Reserveforcashflowhedges | ||
6.Translationdifferencesincurrencyfinancialstatements | 75,756.02 | -4,045,320.86 |
7.Other | ||
NetofprofitofothercomprehensiveincomeattributabletoMinorityshareholders’equity | ||
VII.Totalcomprehensiveincome | 70,180,466.90 | 108,373,250.48 |
Totalcomprehensiveincomeattributabletotheowneroftheparentcompany | 42,509,281.12 | 71,553,784.62 |
Totalcomprehensiveincomeattributableminorityshareholders | 27,671,185.78 | 36,819,465.86 |
VIII.Earningspershare | ||
(I)Basicearningspershare | 0.0838 | 0.1509 |
(II)Dilutedearningspershare | 0.0838 | 0.1509 |
Thecurrentbusinesscombinationundercommoncontrol,thenetprofitsofthecombinedpartybeforeachievednetprofitofRMB0.00,lastperiodthecombinedpartyrealizedRMB0.00.LegalRepresentative:YinKefeiPerson-in-chargeoftheaccountingwork:HeFeiPerson-in-chargeoftheaccountingorgan:ZhuJingjing
4.IncomestatementoftheParentCompany
InRMB
Items | Thefirsthalfyearof2022 | Thefirsthalfyearof2021 |
I.Incomefromthekeybusiness | 21,156,669.75 | 38,146,662.35 |
Incl:Businesscost | 5,203,409.57 | 5,346,478.59 |
Businesstaxandsurcharge | 1,379,026.92 | 1,523,347.63 |
Salesexpense | 61,120.10 | |
Administrativeexpense | 20,247,344.52 | 19,834,907.43 |
R&Dexpense | ||
Financialexpenses | -246,370.02 | 162,410.11 |
Including:Interestexpenses | 339,399.60 | |
Interestincome | -227,023.28 | -171,381.45 |
Add:Otherincome | 181,448.97 | 50,000.00 |
Investmentgain(“-”forloss) | 11,334,212.84 | 9,140,645.27 |
Including:investmentgainsfromaffiliates | 1,658,532.04 | -412,713.12 |
Financialassetsmeasuredatamortizedcostceasetoberecognizedasincome | ||
Netexposurehedgingincome | ||
Changingincomeoffairvalue | 914,599.37 | |
Creditimpairmentloss | -106,152.94 | -196,707.89 |
Impairmentlossofassets |
Assetsdisposalincome | ||
II.Operationalprofit(“-”forloss) | 5,921,647.53 | 21,188,055.34 |
Add:Non-operationalincome | ||
Less:Non-operationalexpenses | 100,000.00 | |
III.Totalprofit(“-”forloss) | 5,821,647.53 | 21,188,055.34 |
Less:Incometaxexpenses | 262,406.66 | 3,381,310.97 |
IV.Netprofit | 5,559,240.87 | 17,806,744.37 |
1.Netcontinuingoperatingprofit | 5,559,240.87 | 17,806,744.37 |
2.Terminationofoperatingnetprofit | ||
V.Netafter-taxofothercomprehensiveincome | 75,756.02 | -5,049,289.77 |
(I)Othercomprehensiveincomeitemsthatwillnotbereclassifiedintogains/lossesinthesubsequentaccountingperiod | -1,003,968.91 | |
1.Re-measurementofdefinedbenefitplansofchangesinnetdebtornetassets | ||
2.Othercomprehensiveincomeundertheequitymethodinvesteecannotbereclassifiedintoprofitorloss. | ||
3.Changesinthefairvalueofinvestmentsinotherequityinstruments | -1,003,968.91 | |
4.Changesinthefairvalueofthecompany’screditrisks | ||
5.Other | ||
(II)Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss | 75,756.02 | -4,045,320.86 |
1.Othercomprehensiveincomeundertheequitymethodinvesteecanbereclassifiedintoprofitorloss. | ||
2.Changesinthefairvalueofinvestmentsinotherdebtobligations | ||
3.Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | ||
4.Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations | ||
5.Reserveforcashflowhedges | ||
6.Translationdifferencesincurrencyfinancialstatements | 75,756.02 | -4,045,320.86 |
7.Other | ||
VI.Totalcomprehensiveincome | 5,634,996.89 | 12,757,454.60 |
VII.Earningspershare | ||
(I)Basicearningspershare | ||
(II)Dilutedearningspershare |
5.ConsolidatedCashflowstatement
InRMB
Items | Thefirsthalfyearof2022 | Thefirsthalfyearof2021 |
I.Cashflowsfromoperatingactivities | ||
Cashreceivedfromsalesofgoodsorrendingofservices | 1,337,065,239.48 | 1,120,318,752.18 |
Netincreaseofcustomerdepositsandcapitalkeptforbrothercompany | ||
Netincreaseofloansfromcentralbank | ||
Netincreaseofinter-bankloansfromotherfinancialbodies | ||
Cashreceivedagainstoriginalinsurancecontract | ||
Netcashreceivedfromreinsurancebusiness | ||
Netincreaseofclientdepositandinvestment | ||
Cashreceivedfrominterest,commissionchargeandcommission | ||
Netincreaseofinter-bankfundreceived | ||
Netincreaseofrepurchasingbusiness | ||
Netcashreceivedbyagentinsecuritiestrading |
Taxreturned | 2,595,000.19 | 7,389,955.19 |
Othercashreceivedfrombusinessoperation | 287,019,693.63 | 42,020,491.27 |
Sub-totalofcashinflow | 1,626,679,933.30 | 1,169,729,198.64 |
Cashpaidforpurchasingofmerchandiseandservices | 1,225,526,384.08 | 904,947,382.28 |
Netincreaseofclienttradeandadvance | ||
Netincreaseofsavingsincentralbankandbrothercompany | ||
Cashpaidfororiginalcontractclaim | ||
Netincreaseinfinancialassetsheldfortradingpurposes | ||
NetincreaseforOutgoingcallloan | ||
Cashpaidforinterest,processingfeeandcommission | ||
Cashpaidtostaffsorpaidforstaffs | 132,733,244.30 | 131,060,141.64 |
Taxespaid | 139,777,733.09 | 25,418,187.30 |
Othercashpaidforbusinessactivities | 49,204,337.24 | 160,947,023.67 |
Sub-totalofcashoutflowfrombusinessactivities | 1,547,241,698.71 | 1,222,372,734.89 |
Netcashgeneratedfrom/usedinoperatingactivities | 79,438,234.59 | -52,643,536.25 |
II.Cashflowgeneratedbyinvesting | ||
Cashreceivedfrominvestmentretrieving | ||
Cashreceivedasinvestmentgains | 2,636,054.80 | 7,958,287.14 |
Netcashretrievedfromdisposaloffixedassets,intangibleassets,andotherlong-termassets | 2,776.70 | |
Netcashreceivedfromdisposalofsubsidiariesorotheroperationalunits | ||
Otherinvestment-relatedcashreceived | 635,000,000.00 | 779,428,611.40 |
Sub-totalofcashinflowduetoinvestmentactivities | 637,638,831.50 | 787,386,898.54 |
Cashpaidforconstructionoffixedassets,intangibleassetsandotherlong-termassets | 31,252,419.31 | 195,798,969.38 |
Cashpaidasinvestment | ||
Netincreaseofloanagainstpledge | ||
Netcashreceivedfromsubsidiariesandotheroperationalunits | ||
Othercashpaidforinvestmentactivities | 650,000,001.00 | 732,374,977.65 |
Sub-totalofcashoutflowduetoinvestmentactivities | 681,252,420.31 | 928,173,947.03 |
Netcashflowgeneratedbyinvestment | -43,613,588.81 | -140,787,048.49 |
III.Cashflowgeneratedbyfinancing | ||
Cashreceivedasinvestment | ||
Including:Cashreceivedasinvestmentfromminorshareholders | ||
Cashreceivedasloans | 50,572,000.00 | 201,089,000.00 |
Otherfinancing–relatedcashreceived | ||
Sub-totalofcashinflowfromfinancingactivities | 50,572,000.00 | 201,089,000.00 |
Cashtorepaydebts | ||
Cashpaidasdividend,profit,orinterests | 40,857,882.81 | 24,141,288.78 |
Including:Dividendandprofitpaidbysubsidiariestominorshareholders | ||
Othercashpaidforfinancingactivities | 7,820,298.30 | |
Sub-totalofcashoutflowduetofinancingactivities | 40,857,882.81 | 31,961,587.08 |
Netcashflowgeneratedbyfinancing | 9,714,117.19 | 169,127,412.92 |
IV.Influenceofexchangeratealternationoncashandcashequivalents | 713,784.26 | -1,040,300.91 |
V.Netincreaseofcashandcashequivalents | 46,252,547.23 | -25,343,472.73 |
Add:balanceofcashandcashequivalentsatthebeginningofterm | 302,408,433.72 | 278,337,236.95 |
VI..Balanceofcashandcashequivalentsattheendofterm | 348,660,980.95 | 252,993,764.22 |
6.CashFlowStatementoftheParentCompany
InRMB
Items | Thefirsthalfyearof2022 | Thefirsthalfyearof2021 |
I.Cashflowsfromoperatingactivities |
Cashreceivedfromsalesofgoodsorrendingofservices | 30,439,993.40 | 36,947,544.62 |
Taxreturned | 200,005.60 | |
Othercashreceivedfrombusinessoperation | 8,775,816.77 | 23,757,836.70 |
Sub-totalofcashinflow | 39,415,815.77 | 60,705,381.32 |
Cashpaidforpurchasingofmerchandiseandservices | 5,066,002.25 | 5,951,213.89 |
Cashpaidtostaffsorpaidforstaffs | 16,859,518.32 | 15,731,460.61 |
Taxespaid | 3,475,718.60 | 14,531,396.20 |
Othercashpaidforbusinessactivities | 9,214,911.23 | 3,676,889.38 |
Sub-totalofcashoutflowfrombusinessactivities | 34,616,150.40 | 39,890,960.08 |
Netcashgeneratedfrom/usedinoperatingactivities | 4,799,665.37 | 20,814,421.24 |
II.Cashflowgeneratedbyinvesting | ||
Cashreceivedfrominvestmentretrieving | ||
Cashreceivedasinvestmentgains | 2,636,054.80 | 5,448,251.42 |
Netcashretrievedfromdisposaloffixedassets,intangibleassets,andotherlong-termassets | ||
Netcashreceivedfromdisposalofsubsidiariesorotheroperationalunits | ||
Otherinvestment-relatedcashreceived | 635,000,000.00 | 347,796,939.77 |
Sub-totalofcashinflowduetoinvestmentactivities | 637,636,054.80 | 353,245,191.19 |
Cashpaidforconstructionoffixedassets,intangibleassetsandotherlong-termassets | 238,180.00 | 1,325,797.35 |
Cashpaidasinvestment | ||
Netcashreceivedfromsubsidiariesandotheroperationalunits | ||
Othercashpaidforinvestmentactivities | 650,000,001.00 | 384,000,000.00 |
Sub-totalofcashoutflowduetoinvestmentactivities | 650,238,181.00 | 385,325,797.35 |
Netcashflowgeneratedbyinvestment | -12,602,126.20 | -32,080,606.16 |
III.Cashflowgeneratedbyfinancing | ||
Cashreceivedasinvestment | ||
Cashreceivedasloans | ||
Otherfinancing–relatedashreceived | ||
Sub-totalofcashinflowfromfinancingactivities | ||
Cashtorepaydebts | ||
Cashpaidasdividend,profit,orinterests | 25,326,092.45 | 15,176,281.23 |
Othercashpaidforfinancingactivities | 7,820,298.30 | |
Sub-totalofcashoutflowduetofinancingactivities | 25,326,092.45 | 22,996,579.53 |
Netcashflowgeneratedbyfinancing | -25,326,092.45 | -22,996,579.53 |
IV.Influenceofexchangeratealternationoncashandcashequivalents | ||
V.Netincreaseofcashandcashequivalents | -33,128,553.28 | -34,262,764.45 |
Add:balanceofcashandcashequivalentsatthebeginningofterm | 130,236,340.98 | 113,560,327.21 |
VI..Balanceofcashandcashequivalentsattheendofterm | 97,107,787.70 | 79,297,562.76 |
7.ConsolidatedStatementonChangeinOwners’EquityAmountinthisperiod
InRMB
Items | Thefirsthalfyearof2022 | ||||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
Preferredstock | Sustainablede | Other |
bt | |||||||||||||||
I.Balanceattheendoflastyear | 506,521,849.00 | 1,961,599,824.63 | 119,682,119.05 | 98,245,845.47 | 130,746,251.74 | 2,816,795,889.89 | 1,147,033,357.18 | 3,963,829,247.07 | |||||||
Add:Changeofaccountingpolicy | |||||||||||||||
Correctingofpreviouserrors | |||||||||||||||
Mergerofentitiesundercommoncontrol | |||||||||||||||
Other | |||||||||||||||
II.Balanceatthebeginningofcurrentyear | 506,521,849.00 | 1,961,599,824.63 | 119,682,119.05 | 98,245,845.47 | 130,746,251.74 | 2,816,795,889.89 | 1,147,033,357.18 | 3,963,829,247.07 | |||||||
III.Changedinthecurrentyear | 0.00 | 0.00 | 75,756.02 | 17,107,432.65 | 17,183,188.67 | 27,671,185.78 | 44,854,374.45 | ||||||||
(1)Totalcomprehensiveincome | 75,756.02 | 42,433,525.10 | 42,509,281.12 | 27,671,185.78 | 70,180,466.90 | ||||||||||
(II)Investmentordecreasingofcapitalbyowners | |||||||||||||||
1.OrdinarySharesinvestedbyshareholders | |||||||||||||||
2.Holdersofotherequityinstrumentsinvestedcapital | |||||||||||||||
3.Amountofsharespaidandaccountedasowners’equity | |||||||||||||||
4.Other | |||||||||||||||
(III)Profitallotment | -25,326,092.45 | -25,326,092.45 | -25,326,092.45 | ||||||||||||
1.Providingofsurplusreserves | |||||||||||||||
2.Providingofcommon |
riskprovisions | |||||||||||||
3.Allotmenttotheowners(orshareholders) | -25,326,092.45 | -25,326,092.45 | -25,326,092.45 | ||||||||||
4.Other | |||||||||||||
(IV)Internaltransferringofowners’equity | |||||||||||||
1.Capitalizingofcapitalreserves(ortocapitalshares) | |||||||||||||
2.Capitalizingofsurplusreserves(ortocapitalshares) | |||||||||||||
3.Makinguplossesbysurplusreserves. | |||||||||||||
4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | |||||||||||||
5.Othercomprehensiveincomecarry-overretainedearnings | |||||||||||||
6.Other | |||||||||||||
(V).Specialreserves | |||||||||||||
1.Providedthisyear | |||||||||||||
2.Usedthisterm | |||||||||||||
(VI)Other | |||||||||||||
IV.Balanceattheendofthisterm | 506,521,849.00 | 1,961,599,824.63 | 119,757,875.07 | 98,245,845.47 | 147,853,684.39 | 2,833,979,078.56 | 1,174,704,542.96 | 4,008,683,621.52 |
Amountinlastyear
InRMB
Items | Thefirsthalfyearof2021 | ||||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equi | Totalofowners’equity | |||||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesin | OtherCompr | Specializedrese | Surplusreserves | Commonrisk | Retainedprofit | Other | Subtotal | |||||
Preferre | Sust | Oth |
dstock | ainabledebt | er | stock | ehensiveIncome | rve | provision | ty | ||||||||
I.Balanceattheendoflastyear | 507,772,279.00 | 1,967,514,358.53 | 7,525,438.20 | 116,605,932.42 | 94,954,652.14 | 86,912,390.50 | 2,766,234,174.39 | 1,133,081,075.23 | 3,899,315,249.62 | ||||||
Add:Changeofaccountingpolicy | |||||||||||||||
Correctingofpreviouserrors | |||||||||||||||
Mergerofentitiesundercommoncontrol | |||||||||||||||
Other | |||||||||||||||
II.Balanceatthebeginningofcurrentyear | 507,772,279.00 | 1,967,514,358.53 | 7,525,438.20 | 116,605,932.42 | 94,954,652.14 | 86,912,390.50 | 2,766,234,174.39 | 1,133,081,075.23 | 3,899,315,249.62 | ||||||
III.Changedinthecurrentyear | -1,250,430.00 | -5,914,533.90 | -7,525,438.20 | -5,049,289.77 | 61,407,418.92 | 56,718,603.45 | 36,819,465.86 | 93,538,069.31 | |||||||
(1)Totalcomprehensiveincome | -5,049,289.77 | 76,603,074.39 | 71,553,784.62 | 36,819,465.86 | 108,373,250.48 | ||||||||||
(II)Investmentordecreasingofcapitalbyowners | -1,250,430.00 | -5,914,533.90 | -7,525,438.20 | 360,474.30 | 360,474.30 | ||||||||||
1.OrdinarySharesinvestedbyshareholders | |||||||||||||||
2.Holdersofotherequityinstrumentsinvestedcapital | |||||||||||||||
3.Amountofsharespaidandaccountedasowners’equity | |||||||||||||||
4.Other | -1,250,430.00 | -5,914,533.90 | -7,525,438.20 | 360,474.30 | 360,474.30 | ||||||||||
(III)Profitallotment | -15,195,655.4 | -15,195,655.4 | -15,195,655.4 |
7 | 7 | 7 | |||||||||||
1.Providingofsurplusreserves | |||||||||||||
2.Providingofcommonriskprovisions | |||||||||||||
3.Allotmenttotheowners(orshareholders) | -15,195,655.47 | -15,195,655.47 | -15,195,655.47 | ||||||||||
4.Other | |||||||||||||
(IV)Internaltransferringofowners’equity | |||||||||||||
1.Capitalizingofcapitalreserves(ortocapitalshares) | |||||||||||||
2.Capitalizingofsurplusreserves(ortocapitalshares) | |||||||||||||
3.Makinguplossesbysurplusreserves. | |||||||||||||
4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | |||||||||||||
5.Othercomprehensiveincomecarry-overretainedearnings | |||||||||||||
6.Other | |||||||||||||
(V).Specialreserves | |||||||||||||
1.Providedthisyear | |||||||||||||
2.Usedthisterm | |||||||||||||
(VI)Other | |||||||||||||
IV.Balanceattheendofthisterm | 506,521,849.00 | 1,961,599,824.63 | 0.00 | 111,556,642.65 | 94,954,652.14 | 148,319,809.42 | 2,822,952,777.84 | 1,169,900,541.09 | 3,992,853,318.93 |
8.Statementofchangeinowner’sEquityoftheParentCompanyAmountinthisperiod
InRMB
Items | Thefirsthalfyearof2022 | |||||||||||
Sharecapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Retainedprofit | Other | Totalofowners’equity | |||
Preferredstock | Sustainabledebt | Other | ||||||||||
I.Balanceattheendoflastyear | 506,521,849.00 | 1,577,392,975.96 | 108,762,538.39 | 98,245,845.47 | 690,879,118.40 | 2,981,802,327.22 | ||||||
Add:Changeofaccountingpolicy | ||||||||||||
Correctingofpreviouserrors | ||||||||||||
Other | ||||||||||||
II.Balanceatthebeginningofcurrentyear | 506,521,849.00 | 1,577,392,975.96 | 108,762,538.39 | 98,245,845.47 | 690,879,118.40 | 2,981,802,327.22 | ||||||
III.Changedinthecurrentyear | 75,756.02 | -19,766,851.58 | -19,691,095.56 | |||||||||
(I)Totalcomprehensiveincome | 75,756.02 | 5,559,240.87 | 5,634,996.89 | |||||||||
(II)Investmentordecreasingofcapitalbyowners | ||||||||||||
1.OrdinarySharesinvestedbyshareholders | ||||||||||||
2.Holdersofotherequityinstrumentsinvestedcapital | ||||||||||||
3.Amountofsharespaidandaccountedasowners’equity | ||||||||||||
4.Other | ||||||||||||
(III)Profitallotment | -25,326,092. | -25,326,092. |
45 | 45 | |||||||||
1.Providingofsurplusreserves | ||||||||||
2.Allotmenttotheowners(orshareholders) | -25,326,092.45 | -25,326,092.45 | ||||||||
3.Other | ||||||||||
(IV)Internaltransferringofowners’equity | ||||||||||
1.Capitalizingofcapitalreserves(ortocapitalshares) | ||||||||||
2.Capitalizingofsurplusreserves(ortocapitalshares) | ||||||||||
3.Makinguplossesbysurplusreserves. | ||||||||||
4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | ||||||||||
5.Othercomprehensiveincomecarry-overretainedearnings | ||||||||||
6.Other | ||||||||||
(V)Specialreserves | ||||||||||
1.Providedthisyear | ||||||||||
2.Usedthisterm | ||||||||||
(VI)Other | ||||||||||
IV.Balanceattheendofthisterm | 506,521,849.00 | 1,577,392,975.96 | 108,838,294.41 | 98,245,845.47 | 671,112,266.82 | 2,962,111,231.66 |
Amountinlastyear
InRMB
Items | Thefirsthalfyearof2021 | |||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Retainedprofit | Other | Totalofowners’equity | |||
Preferredstock | Sustainable | Other |
debt | ||||||||||||
I.Balanceattheendoflastyear | 507,772,279.00 | 1,583,307,509.86 | 7,525,438.20 | 107,632,186.85 | 94,954,652.14 | 676,454,033.89 | 2,962,595,223.54 | |||||
Add:Changeofaccountingpolicy | ||||||||||||
Correctingofpreviouserrors | ||||||||||||
Other | ||||||||||||
II.Balanceatthebeginningofcurrentyear | 507,772,279.00 | 1,583,307,509.86 | 7,525,438.20 | 107,632,186.85 | 94,954,652.14 | 676,454,033.89 | 2,962,595,223.54 | |||||
III.Changedinthecurrentyear | -1,250,430.00 | -5,914,533.90 | -7,525,438.20 | -5,049,289.77 | 2,611,088.90 | -2,077,726.57 | ||||||
(I)Totalcomprehensiveincome | -5,049,289.77 | 2,611,088.90 | -2,438,200.87 | |||||||||
(II)Investmentordecreasingofcapitalbyowners | -1,250,430.00 | -5,914,533.90 | -7,525,438.20 | 360,474.30 | ||||||||
1.OrdinarySharesinvestedbyshareholders | ||||||||||||
2.Holdersofotherequityinstrumentsinvestedcapital | ||||||||||||
3.Amountofsharespaidandaccountedasowners’equity | ||||||||||||
4.Other | -1,250,430.00 | -5,914,533.90 | -7,525,438.20 | 360,474.30 | ||||||||
(III)Profitallotment | ||||||||||||
1.Providingofsurplusreserves | ||||||||||||
2.Allotmenttotheowners(orshareholders) | ||||||||||||
3.Other |
(IV)Internaltransferringofowners’equity | ||||||||||
1.Capitalizingofcapitalreserves(ortocapitalshares) | ||||||||||
2.Capitalizingofsurplusreserves(ortocapitalshares) | ||||||||||
3.Makinguplossesbysurplusreserves. | ||||||||||
4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | ||||||||||
5.Othercomprehensiveincomecarry-overretainedearnings | ||||||||||
6.Other | ||||||||||
(V)Specialreserves | ||||||||||
1.Providedthisyear | ||||||||||
2.Usedthisterm | ||||||||||
(VI)Other | ||||||||||
IV.Balanceattheendofthisterm | 506,521,849.00 | 1,577,392,975.96 | 102,582,897.08 | 94,954,652.14 | 679,065,122.79 | 2,960,517,496.97 |
III.BasicInformationoftheCompanyShenzhenTextile(Group)Co.,Ltd.(hereinafterreferredtoas"Company"or"theCompany")isajoint-stockcompanyregisteredinGuangdongProvincewitharegisteredcapitalofRMB506.521849millionandaunifiedsocialcreditcodeof91440300192173749Y.TheCompanyhaspubliclyissuedRMBcommonshares(Ashares)anddomesticlistedforeignshares(Bshares)tothepublicathomeandabroad,andlistedandtradedthem.TheCompanyisheadquarteredaddressare6/F,ShenfangBuilding,No.3HuaqiangRoad.North,FutianDistrict,Shenzhen.
ThecompanywaspreviouslytheShenzhenTextileIndustryCompany,onApril13,1994,approvedbytheLetter(1994)No.15issuedbyShenzhenMunicipalPeople'sGovernment,theCompanywasrestructuredandnamedasShenzhenTextile(Group)Co.,Ltd.,AsofJune30,2022,theCompanyhasissuedatotalof506,521,849.00shares.
TheCompanyhasestablishedthecorporategovernancestructureofGeneralMeetingofShareholders,BoardofDirectorsandBoardofSupervisors,andcurrentlyhastheBoardOffice,Office,Strategic
DevelopmentDepartment,OperationandManagementDepartment,FinanceDepartment,AuditDepartment,HumanResourcesDepartmentandotherdepartments.TheCompanyismainlyengagedinhigh-techindustryfocusingonR&D,productionandmarketingofpolarizersforliquidcrystaldisplay,managementofpropertiesinbustlingbusinessdistrictsofShenzhenandreservedhigh-classtextileandgarmentbusiness.Thefinancialstatementshavebeenauthorizedforissuanceofthe15
thmeetingofthe8thBoardofDirectorsoftheGrouponAugust23,2022.I.ScopeofconsolidatedfinancialstatementsAsofJune30,2022,Atotalof8subsidiariesoftheCompanyareincludedinthescopeofconsolidation.Fordetails,pleaserefertoNoteIX"RightsandInterestsinOtherSubjects".IV.Basisforthepreparationoffinancialstatements
(1)BasisforthepreparationThefinancialstatementsarepreparedinaccordancewiththeAccountingStandardsforBusinessEnterprisespromulgatedbytheMinistryofFinanceanditsapplicationguidelines,interpretationsandotherrelevantprovisions(collectivelyreferredtoasthe"AccountingStandardsforBusinessEnterprises").Inaddition,theCompanyalsodisclosedrelevantfinancialinformationinaccordancewiththeRulesNo.15fortheInformationDisclosureandCompilationofCompaniesOfferingSecuritiesPublicIssuance-GeneralProvisionsonFinancialReport(revisedin2014)issuedbyChinaSecuritiesRegulatoryCommission.Thefinancialstatementsarepresentedonthebasisofgoingconcern.TheaccountingoftheCompanyisbasedonaccrualbasis.Exceptforsomefinancialinstruments,thefinancialstatementsarebasedonhistoricalcosts.Incaseofassetimpairment,impairmentprovisionshallbemadeinaccordancewithrelevantregulations.
(2)ContinuationTherewillbenosucheventsorsituationsinthe12monthsfromtheendofthereportingperiodthatwillcausematerialdoubtsastothecontinuationcapabilityoftheCompany.V.ImportantaccountingpoliciesandestimationsSpecificaccountingpoliciesandaccountingestimatestips:
Accordingtoitsownproductionandoperationcharacteristics,thecompanydeterminesthedepreciationoffixedassets,intangibleassetsamortizationandincomerecognitionpolicies,Forspecificaccountingpolicies,see"10FinancialReport5,ImportantAccountingPoliciesandAccountingEstimates24,FixedAssets","10FinancialReport5,ImportantAccountingPoliciesandAccountingEstimates30,IntangibleAssets","Section10FinancialReport5,ImportantAccountingPoliciesandAccountingEstimates39,Revenue".
1.StatementoncomplyingwithcorporateaccountingstandardsThisfinancialstatementconformstotherequirementsofAccountingStandardsforBusinessEnterprises,andtrulyandcompletelyreflectsthecombinationandfinancialstatusoftheCompanyonJune30,2022,aswellasthecombinationandoperatingresultsandcashflowoftheCompany.
2.FiscalYearTheCompanyadoptstheGregoriancalendaryearcommencingonJanuary1andendingonDecember31asthefiscalyear.
3.OperatingcycleTheoperatingcycleoftheCompanyis12months.
4.AccountingstandardmoneyTheCompanyanditsdomesticsubsidiariesuseRMBastheirbookkeepingbasecurrency.TheoverseassubsidiariesoftheCompanydetermineRMBastheirbookkeepingbasecurrencyaccordingtothecurrencyinthemaineconomicenvironmentinwhichtheyoperate.ThecurrencyusedbytheCompanyinpreparingthefinancialstatementsisRMB.
5.Accountingprocessmethodofenterpriseconsolidationundersameanddifferentcontrolling.
(1)Enterprisemergerundersamecontrol:
Forbusinesscombinationunderthesamecontrol,theassetsandliabilitiesofthecombinedpartyacquiredbythemergingpartyduringthecombinationshallbemeasuredaccordingtothebookvalueofthecombinedpartyintheconsolidatedfinancialstatementsofthefinalcontrollingpartyonthecombinationdate,exceptfortheadjustmentduetodifferentaccountingpolicies.Thedifferencebetweenthebookvalueofthecombinationconsiderationandthebookvalueofthenetassetsobtainedinthecombinationadjuststhecapitalreserve.Ifthecapitalreserveisinsufficienttooffset,theretainedearningswillbeadjusted.BusinesscombinationunderthesamecontrolshallbeachievedstepbystepthroughmultipletransactionsInindividualfinancialstatements,theshareofthebookvalueofthenetassetsofthecombinedpartyintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyshallbetakenastheinitialinvestmentcostoftheinvestmentonthecombinationdaycalculatedbytheshareholdingratioonthecombinationday;Adjustthecapitalreserveforthedifferencebetweentheinitialinvestmentcostandthebookvalueoftheinvestmentheldbeforethecombinationplusthebookvalueoftheconsiderationpaidonthenewdayofthecombination.Ifthecapitalreserveisinsufficienttooffset,adjusttheretainedearnings.Intheconsolidatedfinancialstatements,theassetsandliabilitiesofthecombinedpartyacquiredbythemergingpartyinthecombinationshallbemeasuredaccordingtothebookvalueintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyonthecombinationdate,exceptfortheadjustmentduetodifferentaccountingpolicies;Thedifferencebetweenthebookvalueoftheinvestmentheldbeforethecombinationplusthebookvalueoftheconsiderationpaidonthenewdayofthecombinationandthebookvalueofthenetassetsobtainedduringthecombinationwillbeadjustedforcapitalreserve.Ifthecapitalreserveisinsufficienttooffset,theretainedearningswillbeadjusted.Forthelong-termequityinvestmentheldbythemergingpartybeforeobtainingthecontrolrightofthecombinedparty,therelevantprofitsandlosses,othercomprehensiveincomeandotherchangesinowner'sequityhavebeenrecognizedfromthedateofobtainingtheoriginalequityandthedatewhenthemergingpartyandthecombinedpartyareunderthesamefinalcontroltothecombinationdate,andtheinitialretainedearningsorcurrentprofitsandlossesduringthecomparativereportperiodshallbeoffsetrespectively.
(2)Businesscombinationinvolvingentitiesnotundercommoncontrol
Forbusinesscombinationnotunderthesamecontrol,thecombinationcostreferstotheassetspaid,liabilitiesincurredorassumed,andfairvalueoftheissuedequitysecuritiesinordertogaincontrolovertheacquireeontheacquisitiondate.Ontheacquisitiondate,theacquiredassets,liabilitiesandcontingentliabilitiesoftheacquireearerecognizedatfairvalue.
Thedifferencebetweenthecombinationcostandthefairvalueshareofidentifiablenetassetsacquiredinthecombinationisrecognizedasgoodwill,andtheaccumulatedimpairmentprovisionisdeductedbycostforsubsequentmeasurement;Thedifferencebetweenthecombinationcostandthefairvalueshareofidentifiable
netassetsacquiredbytheacquireeinthecombinationshallberecordedintothecurrentprofitsandlossesafterreview.BusinesscombinationunderthesamecontrolshallbeachievedstepbystepthroughmultipletransactionsInindividualfinancialstatements,thesumofthebookvalueoftheequityinvestmentheldbytheacquireebeforetheacquisitiondateandthenewinvestmentcostontheacquisitiondateistakenastheinitialinvestmentcostoftheinvestment.Othercomprehensiveincomerecognizedbytheequityinvestmentheldbeforetheacquisitiondateduetoaccountingbytheequitymethodisnottreatedontheacquisitiondate,andaccountingtreatmentiscarriedoutonthesamebasisasthatoftheinvestee'sdirectdisposalofrelatedassetsorliabilities;Theowner'sequityrecognizedduetothechangeofowner'sequityoftheinvesteeexceptnetprofitandloss,othercomprehensiveincomeandprofitdistributionshallbetransferredtothecurrentprofitandlossduringthedisposalperiodwhentheinvestmentisdisposed.Iftheequityinvestmentheldbeforetheacquisitiondateismeasuredbyfairvalue,theaccumulatedchangesinfairvalueoriginallyincludedinothercomprehensiveincomewillbetransferredtothecurrentprofitsandlosseswhenaccountingbycostmethod.
Intheconsolidatedfinancialstatements,theconsolidatedcostisthesumoftheconsiderationpaidontheacquisitiondateandthefairvalueoftheequityoftheacquireeheldbeforetheacquisitiondateontheacquisitiondate.Theequityoftheacquireeheldbeforetheacquisitiondateshallbere-measuredaccordingtothefairvalueoftheequityontheacquisitiondate,andthedifferencebetweenthefairvalueanditsbookvalueshallbeincludedinthecurrentincome;Equityoftheacquireeheldbeforetheacquisitiondateinvolvesothercomprehensiveincome,andotherchangesinowner'sequityareconvertedintocurrentincomeontheacquisitiondate,exceptforothercomprehensiveincomearisingfromtheremeasurementofnetliabilitiesorchangesinnetassetsofthesetincomeplanbytheinvestee.
(3)Treatmentoftransactioncostsinbusinesscombination
Intermediaryexpensessuchasauditing,legalservices,evaluationandconsultation,andotherrelatedmanagementexpensesincurredforbusinesscombinationareincludedinthecurrentprofitsandlosseswhentheyoccur.Transactioncostsofequitysecuritiesordebtsecuritiesissuedascombinationconsiderationareincludedintheinitialrecognitionamountofequitysecuritiesordebtsecurities.6Compilationmethodofconsolidatedfinancialstatements
(1)Thescopeofconsolidation
Theconsolidationscopeofconsolidatedfinancialstatementsisdeterminedonthebasisofcontrol.Controlreferstothatthecompanyhasthepowerovertheinvestee,enjoysvariablereturnsbyparticipatingintherelatedactivitiesoftheinvestee,andhastheabilitytousethepowerovertheinvesteetoaffectitsreturnamount.SubsidiariesrefertosubjectscontrolledbytheCompany(includingenterprises,divisiblepartsofinvestee,structuredsubjects,etc.).
Theconsolidationscopeofconsolidatedfinancialstatementsisdeterminedonthebasisofcontrol.Controlreferstothatthecompanyhasthepowerovertheinvestee,enjoysvariablereturnsbyparticipatingintherelatedactivitiesoftheinvestee,andhastheabilitytousethepowerovertheinvesteetoaffectitsreturnamount.SubsidiariesrefertosubjectscontrolledbytheCompany(includingenterprises,divisiblepartsofinvestee,structuredsubjects,etc.).
(2)Compilationmethodofconsolidatedfinancialstatements
TheconsolidatedfinancialstatementsarebasedonthefinancialstatementsoftheCompanyanditssubsidiaries,andarepreparedbytheCompanyaccordingtootherrelevantinformation.Whenpreparingtheconsolidatedfinancialstatements,theaccountingpoliciesandaccountingperiodrequirementsoftheCompanyanditssubsidiariesareconsistent,andmajortransactionsandcurrentbalancesbetweencompaniesareoffset.
Duringthereportingperiod,thesubsidiariesandbusinessesincreasedduetothebusinesscombinationunderthesamecontrolshallbedeemedtobeincludedintheconsolidationscopeoftheCompanyfromthedatewhentheyarecontrolledbytheultimatecontroller,andtheiroperatingresultsandcashflowsfromthedatewhentheyarecontrolledbytheultimatecontrollershallbeincludedintheconsolidatedincomestatementandtheconsolidatedcashflowstatementrespectively.Duringthereportingperiod,theincome,expensesandprofitsofsubsidiariesandbusinessesincreasedfromtheacquisitiondatetotheendofthereportingperiodduetobusinesscombinationnotunderthesamecontrolduringthereportingperiodareincludedintheconsolidatedincomestatement,andtheircashflowsareincludedintheconsolidatedcashflowstatement.Thepartofshareholders'equityofsubsidiariesthatisnotownedbytheCompanyislistedseparatelyasminorityshareholders'equityintheconsolidatedbalancesheet;Theshareofminorityshareholders'equityinthecurrentnetprofitandlossofsubsidiariesislistedas"minorityshareholders'profitandloss"underthenetprofititemintheconsolidatedincomestatement.Ifthelossofsubsidiarysharedbyminorityshareholdersexceedstheshareenjoyedbyminorityshareholdersintheinitialowner'sequityofsuchsubsidiary,thebalancestilloffsetsminorityshareholders'equity.
(3)Acquisitionofminorityshareholders'equityofsubsidiariesThecapitalreserveintheconsolidatedbalancesheetshallbeadjustedforthedifferencebetweenthenewlyacquiredlong-termequityinvestmentcostduetotheacquisitionofminoritysharesandtheshareofnetassetscontinuouslycalculatedbysubsidiariesfromtheacquisitiondateorcombinationdate,andthedifferencebetweenthedisposalpriceobtainedfrompartialdisposalofequityinvestmentinsubsidiarieswithoutlosingcontrolandtheshareofnetassetscontinuouslycalculatedbysubsidiariesfromtheacquisitiondateorcombinationdatecorrespondingtothedisposaloflong-termequityinvestment.Ifthecapitalreserveisinsufficienttooffset,theretainedearningsshallbeadjusted.
(4)TreatmentoflosingcontroloversubsidiariesIfthecontrolovertheoriginalsubsidiaryislostduetothedisposalofpartoftheequityinvestmentorotherreasons,theremainingequityshallbere-measuredaccordingtoitsfairvalueonthedateoflossofcontrol;Thesumoftheconsiderationobtainedfromthedisposalofequityandthefairvalueofremainingequity,minusthesumoftheshareoftheoriginalsubsidiary'sbookvalueofnetassetscalculatedcontinuouslyfromtheacquisitiondateandgoodwillcalculatedaccordingtotheoriginalshareholdingratio,andthedifferenceformedisincludedintheinvestmentincomeofthecurrentperiodoflossofcontrol.
Othercomprehensiveincomerelatedtotheoriginalsubsidiary'sequityinvestmentwillbetransferredtothecurrentprofitsandlosseswhenthecontrolrightislost,exceptforothercomprehensiveincomegeneratedbytheinvestee'sremeasurementofthenetliabilitiesorchangesinnetassetsofthesetincomeplan.
7.JointventurearrangementsclassificationandCo-operationaccountingtreatment
Jointventurearrangementreferstoanarrangementunderthejointcontroloftwoormoreparticipants.ThejointventurearrangementoftheCompanyisdividedintojointoperationandjointventure.
(1)Jointoperation
JointoperationreferstothejointventurearrangementinwhichtheCompanyisentitledtotheassetsrelatedtothearrangementandbearstheliabilitiesrelatedtothearrangement.
TheCompanyrecognizesthefollowingitemsrelatedtotheshareofinterestsinjointoperation,andcarriesoutaccountingtreatmentinaccordancewiththerelevantaccountingstandardsforbusinessenterprises:
A.Recognizeassetsheldseparatelyandassetsheldjointlyaccordingtotheirshares;
B.Recognizetheliabilitiesundertakenseparately,andrecognizetheliabilitiesjointlyundertakenaccordingtotheirshares;
C.Recognizetheincomegeneratedfromthesaleofitsshareofjointoperatingoutput;D.Recognizetheincomegeneratedbythesaleofoutputfromjointoperationaccordingtotheirshares;E.Recognizetheexpensesincurredseparately,andrecognizetheexpensesincurredinjointoperationaccordingtotheirshares.
(2)JointventureAjointventurereferstoajointventurearrangementinwhichtheCompanyonlyhasrightstothenetassetsofthearrangement.
TheCompanyshallcarryoutaccountingtreatmentontheinvestmentofthejointventureinaccordancewiththeprovisionsonaccountingoflong-termequityinvestmentbytheequitymethod.
8.RecognitionStandardofCash&CashEquivalents
Cashreferstocashonhandanddepositsthatcanbeusedforpaymentatanytime.CashequivalentsrefertoinvestmentsheldbytheCompanywithshortterm,strongliquidity,easyconversionintoknowncashandlittleriskofvaluechange.
9.Foreigncurrencytransaction
IncaseofforeigncurrencybusinessoftheCompany,theexchangeratedeterminedbyasystematicandreasonablemethodwhichissimilartothespotexchangerateonthetransactiondateshallbeusedtoconvertitintothebookkeepingbasecurrencyamount.
Balancesheetdate:foreigncurrencymonetaryitemsshallbeconvertedatthespotexchangerateonthebalancesheetdate.Exchangedifferencesarisingfromthedifferencebetweenthespotexchangerateonthebalancesheetdateandthespotexchangerateatthetimeofinitialrecognitionorthepreviousbalancesheetdateareincludedinthecurrentprofitsandlosses;Forforeigncurrencynon-monetaryitemsmeasuredathistoricalcost,thespotexchangerateonthetransactiondateisstilladopted;Foreigncurrencynon-monetaryitemsmeasuredatfairvalueareconvertedatthespotexchangerateonthefairvaluedeterminationdate,andthedifferencebetweentheconvertedbookkeepingbasecurrencyamountandtheoriginalbookkeepingbasecurrencyamountisincludedinthecurrentprofitsandlosses.
10.Financialinstruments
Financialinstrumentsrefertocontractsthatformfinancialassetsofonepartyandfinancialliabilitiesorequityinstrumentsofotherparties.
(1)Recognitionandderecognitionoffinancialinstruments
WhentheCompanybecomesapartytoafinancialinstrumentcontract,afinancialassetorfinancialliabilityisrecognized.
Financialassetsthatmeetoneofthefollowingconditionsshallbederecognized:
①Terminationofthecontractualrighttoreceivecashflowfromthefinancialasset;
②Thefinancialassethasbeentransferredandthefollowingconditionsforderecognitionoffinancialassettransferaremet.
Ifallorpartofthecurrentobligationsofafinancialliabilityhavebeendischarged,thefinancialliabilityorpartofitshallbederecognized.IftheCompany(debtor)signsanagreementwiththecreditortoreplacetheexistingfinancialliabilitiesbyassumingnewfinancialliabilities,andthecontracttermsofthenewfinancialliabilitiesaresubstantiallydifferentfromthoseoftheexistingfinancialliabilities,theexistingfinancialliabilitiesshallbederecognizedandthenewfinancialliabilitiesshallberecognizedatthesametime.
Whentradingthefinancialassetsinaconventionalway,accountingrecognitionandderecognitionshallbe
carriedoutaccordingtothetradingday.
(2)ClassificationandmeasurementoffinancialassetsAccordingtothebusinessmodelofmanagingfinancialassetsandthecontractualcashflowcharacteristicsoffinancialassets,theCompanydividesfinancialassetsintothefollowingthreecategories:financialassetsmeasuredatamortizedcost,financialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincome,andfinancialassetsmeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses.FinancialassetsmeasuredatamortizedcostTheCompanyclassifiesthefinancialassetsthatmeetthefollowingconditionsandarenotdesignatedtobemeasuredatfairvaluewithchangesincludedincurrentprofitsandlossesasfinancialassetsmeasuredatamortizedcost:
?TheCompany'sbusinessmodelofmanagingsuchfinancialassetsistocollectcontractcashflowasthegoal;?Accordingtothecontracttermsofthefinancialasset,thecashflowgeneratedonaspecificdateisonlythepaymentofprincipalandinterestbasedontheunpaidprincipalamount.?Afterinitialrecognition,suchfinancialassetsaremeasuredinamortizedcostbytheeffectiveinterestratemethod.Gainsorlossesarisingfromfinancialassetsmeasuredinamortizedcostthatarenotpartofanyhedgingrelationshipareincludedincurrentprofitsandlosseswhenderecognition,amortizationaccordingtotheeffectiveinterestratemethod,orimpairmentrecognition.FinancialassetsmeasuredatfairvalueandchangesincludedinothercomprehensiveincomeTheCompanyclassifiesfinancialassetsthatmeetthefollowingconditionsandarenotdesignatedtobemeasuredatfairvaluewithchangesincludedincurrentprofitsandlossesasfinancialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincome:
?Thecompany'sbusinessmodelofmanagingthefinancialassetsaimsatbothcollectingcontractcashflowandsellingthefinancialassets;?Accordingtothecontracttermsofthefinancialasset,thecashflowgeneratedonaspecificdateisonlythepaymentofprincipalandinterestbasedontheunpaidprincipalamount.Afterinitialrecognition,thefairvalueofsuchfinancialassetsissubsequentlymeasured.Interest,impairmentlossesorgainsandexchangegainsandlossescalculatedbytheeffectiveinterestratemethodareincludedinthecurrentprofitsandlosses,whileothergainsorlossesareincludedinothercomprehensiveincome.Uponterminationofrecognition,theaccumulatedgainsorlossespreviouslyincludedinothercomprehensiveincomeshallbetransferredoutofothercomprehensiveincomeandincludedincurrentprofitsandlosses.
FinancialassetsmeasuredatfairvaluewithchangesincludedincurrentprofitsandlossesExceptfortheabovefinancialassetsmeasuredatamortizedcostandatfairvaluewithchangesincludedinothercomprehensiveincome,theCompanyclassifiesallotherfinancialassetsasfinancialassetsmeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses.Atthetimeofinitialrecognition,inordertoeliminateorsignificantlyreduceaccountingmismatch,theCompanyirrevocablydesignatedsomefinancialassetsthatshouldhavebeenmeasuredatamortizedcostoratfairvaluewithchangesincludedinothercomprehensiveincomeasfinancialassetsmeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses.Afterinitialrecognition,thefinancialassetsaresubsequentlymeasuredatfairvalue,andtheresultinggainsorlosses(includinginterestanddividendincome)areincludedinthecurrentprofitsandlosses,unlessthefinancialassetsarepartofthehedgingrelationship.
However,fornon-tradingequityinstrumentinvestments,theCompanycanirrevocablydesignatethemasfinancialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincomeuponinitial
recognition.Thedesignationismadeonthebasisofasingleinvestment,andtherelevantinvestmentconformstothedefinitionofequityinstrumentsfromtheperspectiveoftheissuer.
Afterinitialrecognition,thefairvalueofsuchfinancialassetsissubsequentlymeasured.Dividendincomethatmeetstherequirementsisincludedinprofitorloss,andothergainsorlossesandchangesinfairvalueareincludedinothercomprehensiveincome.Uponterminationofrecognition,theaccumulatedgainsorlossespreviouslyincludedinothercomprehensiveincomeshallbetransferredoutofothercomprehensiveincomeandincludedinretainedincome.ThebusinessmodelofmanagingfinancialassetreferstohowtheCompanymanagesfinancialassetstogeneratecashflow.ThebusinessmodeldetermineswhetherthecashflowoffinancialassetsmanagedbytheCompanycomesfromcontractcashflow,saleoffinancialassetsorboth.TheCompanydeterminesthebusinessmodelofmanagingfinancialassetsbasedonobjectivefactsandspecificbusinessobjectivesofmanagingfinancialassetsdecidedbykeymanagementpersonnel.TheCompanyevaluatesthecontractualcashflowcharacteristicsoffinancialassetstodeterminewhetherthecontractualcashflowgeneratedbyrelatedfinancialassetsonaspecificdateisonlythepaymentofprincipalandinterestbasedontheunpaidprincipalamount.Where,theprincipalreferstothefairvalueoffinancialassetsatinitialrecognition;Interestincludesconsiderationforthetimevalueofmoney,creditriskrelatedtotheunpaidprincipalamountinaspecificperiod,andotherbasicborrowingrisks,costsandprofits.Inaddition,theCompanyevaluatesthecontractclausesthatmaycausechangesinthetimedistributionoramountofcashflowoffinancialassetscontractstodeterminewhethertheymeettherequirementsoftheabove-mentionedcontractcashflowcharacteristics.
OnlywhentheCompanychangesitsbusinessmodelformanagingfinancialassets,allaffectedfinancialassetsshallbereclassifiedonthefirstdayofthefirstreportingperiodafterthebusinessmodelchanges,otherwise,financialassetsshallnotbereclassifiedafterinitialrecognition.
Financialassetsaremeasuredatfairvalueuponinitialrecognition.Forfinancialassetsmeasuredatfairvalue,whosechangesareincludedincurrentprofitsandlosses,relevanttransactioncostsaredirectlyincludedincurrentprofitsandlosses;Forothertypesoffinancialassets,relevanttransactioncostsareincludedintheinitialrecognitionamount.AccountsreceivablearisingfromthesaleofproductsortheprovisionoflaborservicesthatdonotincludeortakeintoaccountsignificantfinancingcomponentsareinitiallyrecognizedbytheCompanyinaccordancewiththeamountofconsiderationthattheCompanyisexpectedtobeentitledtoreceive.
(3)Classificationandmeasurementoffinancialliabilities
Atinitialrecognition,thefinancialliabilitiesoftheCompanyareclassifiedinto:financialliabilitiesmeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses,andfinancialliabilitiesmeasuredatamortizedcost.Forfinancialliabilitiesthatarenotclassifiedasmeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses,relevanttransactioncostsareincludedintheirinitialrecognitionamount.
Financialliabilitiesmeasuredatfairvaluewithchangesincludedinthecurrentprofitsandlosses
Financialliabilitiesmeasuredatfairvaluewithchangesincludedincurrentprofitsandlossesincludetransactionalfinancialliabilitiesandfinancialliabilitiesdesignatedatfairvalueatinitialrecognitionwithchangesincludedincurrentprofitsandlosses.Suchfinancialliabilitiesaresubsequentlymeasuredaccordingtofairvalue,andthegainsorlossescausedbychangesinfairvalueanddividendsandinterestexpensesrelatedtosuchfinancialliabilitiesareincludedincurrentprofitsandlosses.
Financialliabilitiesmeasuredinamortizedcost
Otherfinancialliabilitiesaresubsequentlymeasuredaccordingtotheamortizedcostbytheeffectiveinterestratemethod,andthegainsorlossesarisingfromderecognitionoramortizationareincludedinthecurrentprofitsandlosses.
DistinctionbetweenfinancialliabilitiesandequityinstrumentsFinancialliabilitiesrefertoliabilitiesthatmeetoneofthefollowingconditions:
①Contractobligationtodelivercashorotherfinancialassetstootherparties.
②Thecontractualobligationtoexchangefinancialassetsorfinancialliabilitieswithotherpartiesunderpotentialunfavorableconditions.
③Non-derivativecontractsthatneedtobesettledorcanbesettledbytheenterprise'sownequityinstrumentsinthefuture,forwhichtheenterprisewilldeliveravariablenumberofitsownequityinstrumentsaccordingtothiscontract.
④Derivativecontractsthatneedtobesettledorcanbesettledbytheenterprise'sownequityinstrumentsinthefuture,exceptforderivativecontractsthatexchangeafixedamountofitsownequityinstrumentsforafixedamountofcashorotherfinancialassets.
Equityinstrumentsrefertocontractsthatcanproveownershipofanenterprise'sresidualequityinassetsafterdeductingallliabilities.
IftheCompanycan'tunconditionallyavoiddeliveringcashorotherfinancialassetstofulfillacontractualobligation,thecontractualobligationmeetsthedefinitionoffinancialliabilities.
IfafinancialinstrumentneedstobesettledorcanbesettledbytheCompany'sownequityinstrument,itshallbeconsideredwhetheritsownequityinstrumentusedtosettletheinstrumentisasubstituteforcashorotherfinancialassets,oritistoenabletheholderofsuchinstrumenttobeentitledtotheremainingequityintheassetsafterallliabilitiesaredeductedbytheissuer.Intheformercase,theinstrumentisthefinancialliabilityoftheCompany;Inthelattercase,theinstrumentistheequityinstrumentoftheCompany.
(4)Derivativefinancialinstrumentsandembeddedderivativeinstruments
Initially,itismeasuredatthefairvalueonthedaywhenthederivativetransactioncontractissigned,andthenmeasuredatitsfairvalue.Derivativefinancialinstrumentswithpositivefairvaluearerecognizedasanasset,whilethosewithnegativefairvalueareregardedasanliability.Anygainsorlossesarisingfromchangesinfairvaluethatdonotmeettherequirementsofhedgeaccountingaredirectlyincludedinthecurrentprofitsandlosses.
Formixedinstrumentsincludingembeddedderivative,ifthemaincontractisfinancialassets,therelevantprovisionsoffinancialassetclassificationshallapplytothemixedinstrumentsasawhole.Ifthemaincontractisnotafinancialasset,andthemixedinstrumentisnotmeasuredatfairvaluewithchangesincludedinthecurrentprofitsandlossesforaccountingtreatment,theembeddedderivativeisnotcloselyrelatedtothemaincontractintermsofeconomiccharacteristicsandrisks,andhasthesameconditionsastheembeddedderivative,andiftheindependentinstrumentmeetsthedefinitionofderivative,theembeddedderivativeissplitfromthemixedinstrumentandtreatedasaseparatederivativefinancialinstrument.Iftheembeddedderivativecannotbeseparatelymeasuredatthetimeofacquisitionoronthesubsequentbalancesheetdate,themixedinstrumentsasawholearedesignatedasfinancialassetsorfinancialliabilitiesmeasuredatfairvaluewithchangesincludedinthecurrentprofitsandlosses.
(5)Fairvalueoffinancialinstruments
SeeNoteIII.11forthedeterminationmethodofthefairvalueoffinancialassetsandfinancialliabilities.
(6)Impairmentoffinancialassets
Basedontheexpectedcreditloss,theCompanywillcarryoutimpairmentaccountingtreatmentonthefollowingitemsandrecognizethelossreserve:
①Financialassetsmeasuredatamortizedcost;
②Receivablesanddebtinvestmentsmeasuredatfairvalueandincludedinothercomprehensiveincome;
③Leasereceivables;
④Financialguaranteecontracts(exceptthosewhicharemeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses,inwhichthetransferoffinancialassetsdoesnotmeettheconditionsforderecognition,orthoseformedbycontinuingtoinvolvethetransferredfinancialassets).
Measurementofexpectedcreditloss
Expectedcreditlossreferstotheweightedaverageofthecreditlossesoffinancialinstrumentsweightedbytheriskofdefault.Creditlossreferstothedifferencebetweenthecashflowofallcontractsdiscountedaccordingtotheoriginalrealinterestrateandtheexpectedcashflowofallcontractsreceivableaccordingtothecontract,thatis,thepresentvalueofallcashshortages.
TheCompanytakesintoaccountreasonableandreliableinformationonhistoricalevents,currentsituationandfutureeconomicsituationforecasts,andusestheriskofdefaultastheweighttocalculatetheprobabilityweightedamountofthepresentvalueofthedifferencebetweenthecashflowreceivablefromthecontractandthecashflowexpectedtobereceivedtorecognizetheexpectedcreditloss.
TheCompanyseparatelymeasurestheexpectedcreditlossesoffinancialinstrumentsatdifferentstages.Ifthecreditriskoffinancialinstrumentshasnotincreasedsignificantlysincetheinitialrecognition,itisinthefirststage.TheCompanymeasuresthelossreserveaccordingtotheexpectedcreditlossinthenext12months;Ifthecreditriskofafinancialinstrumenthasincreasedsignificantlysinceitsinitialrecognitionbutnocreditimpairmenthasoccurred,itisinthesecondstage.TheCompanymeasuresthelossreserveaccordingtotheexpectedcreditlossoftheinstrumentthroughouttheduration;Ifafinancialinstrumenthassufferedcreditimpairmentsinceitsinitialrecognition,itisinthethirdstage.TheCompanymeasuresthelossreserveaccordingtotheexpectedcreditlossoftheinstrumentthroughouttheduration.
Forfinancialinstrumentswithlowcreditriskonthebalancesheetdate,theCompanyassumesthattheircreditriskhasnotincreasedsignificantlysincetheinitialrecognition,andmeasuresthelossreserveaccordingtotheexpectedcreditlossinthenext12months.
Theexpectedcreditlossinthewholedurationreferstotheexpectedcreditlosscausedbyallpossibledefaulteventsinthewholeexpecteddurationoffinancialinstruments.Theexpectedcreditlossinthenext12monthsreferstotheexpectedcreditlosscausedbythefinancialinstrumentdefaulteventthatmayoccurwithin12monthsafterthebalancesheetdate(orwithintheexpecteddurationiftheexpecteddurationofthefinancialinstrumentislessthan12months),whichisapartoftheexpectedcreditlossinthewholeduration.
Whenmeasuringtheexpectedcreditloss,thelongestperiodthattheCompanyneedstoconsideristhelongestcontractperiodduringwhichtheenterpriseissubjecttocreditrisk(includingtheoptiontorenewthecontract).
Forfinancialinstrumentsinthefirstandsecondstagesandwithlowcreditrisk,theCompanycalculatesinterestincomebasedonthebookbalancebeforedeductingimpairmentprovisionsandtheactualinterestrate.Forfinancialinstrumentsinthethirdstage,theinterestincomeshallbecalculatedaccordingtotheirbookbalanceminustheamortizedcostafterimpairmentprovisionandtheactualinterestrate.
Fornotesreceivableandaccountsreceivable,regardlessofwhetherthereissignificantfinancingcomponent,theCompanyalwaysmeasuresthelossreserveaccordingtotheamountequivalenttotheexpectedcreditlossinthewholeduration.
Whenasinglefinancialassetcannotevaluatetheexpectedcreditlossinformationatareasonablecost,theCompanydividesthenotesreceivableandaccountsreceivableintoportfoliosaccordingtothecreditriskcharacteristics,calculatestheexpectedcreditlossonthebasisofthecombinations,anddeterminesthecombinationonthefollowingbasis:
A.Notesreceivable
Notesreceivableportfolio1:bankacceptancebill
Notesreceivableportfolio2:commercialacceptancebillB.AccountsreceivableAccountsreceivableportfolio1:polarizersalesreceivableAccountsreceivableportfolio2:textileandgarmentsalesreceivableAccountsreceivableportfolio3:operatingfundsreceivablefromself-ownpropertyAccountsreceivableportfolio4:otherreceivablesFornotesreceivabledividedintoportfolios,theCompanyreferstothehistoricalcreditlossexperience,andcalculatestheexpectedcreditlossthroughthedefaultriskexposureandtheexpectedcreditlossrateofthewholedurationbasedonthecurrentsituationandforecaststhefutureeconomicsituation.
Foraccountsreceivabledividedintocombinations,theCompanyreferstothehistoricalcreditlossexperience,combinesthecurrentsituationwiththeforecastoffutureeconomicsituation,compilesacomparisontableofaging/overduedaysofaccountsreceivableandtheexpectedcreditlossrateforthewholeduration,andcalculatestheexpectedcreditloss.OtherreceivablesTheCompanyclassifiesotherreceivablesintoseveralcombinationsaccordingtothecreditriskcharacteristics,andcalculatestheexpectedcreditlossesbasedontheportfolios.Thebasisfordeterminingtheportfolioisasfollows:
Otherreceivablesportfolio:agingportfolio
Forotherreceivablesclassifiedasportfolios,theCompanycalculatestheexpectedcreditlossthroughthedefaultriskexposureandtheexpectedcreditlossrateinthenext12monthsorthewholeduration.
Debtinvestmentandotherdebtinvestment
Forcreditor'srightsinvestmentandothercreditor'srightsinvestment,theCompanycalculatestheexpectedcreditlossaccordingtothenatureoftheinvestment,thecounterpartyandvarioustypesofriskexposureandbasedontheexpectedcreditlossrateinthenext12monthsorthewholeduration.
Evaluationofsignificantincreaseincreditrisk
Bycomparingtheriskofdefaultoffinancialinstrumentsonthebalancesheetdatewiththeriskofdefaultontheinitialrecognitiondate,theCompanydeterminestherelativechangeofdefaultriskoffinancialinstrumentsintheexpectedduration,andevaluateswhetherthecreditriskoffinancialinstrumentshasincreasedsignificantlysinceinitialrecognition.
Whendeterminingwhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition,thecompanyconsiderstoobtainreasonableandreliableinformationwithoutunnecessaryextracostsorefforts,includingforward-lookinginformation.InformationconsideredbytheCompanyincludes:
?Thedebtorfailstopaytheprincipalandinterestaccordingtotheexpirationdateofthecontract;?Seriousdeteriorationofexternalorinternalcreditrating(ifany)offinancialinstrumentsthathasoccurredorisexpected;?Seriousdeteriorationofthedebtor'soperatingresultsthathasoccurredorisexpected;?Changesinexistingorexpectedtechnology,market,economicorlegalenvironment,andsignificantadverse
effectsonthedebtor'srepaymentabilityoftheCompany.Accordingtothenatureoffinancialinstruments,theCompanyassesseswhethercreditriskshaveincreasedsignificantlyonthebasisofindividualfinancialinstrumentsorfinancialinstrumentportfolios.Whenevaluatingonthebasisoffinancialinstrumentportfolio,theCompanycanclassifyfinancialinstrumentsbasedoncommoncreditriskcharacteristics,suchasoverdueinformationandcreditriskrating.
Financialassetswithcreditimpairment
Onthebalancesheetdate,theCompanyevaluateswhetherthefinancialassetsmeasuredatamortizedcost
andthecreditor'srightsinvestmentsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincomehavesufferedcreditimpairment.Whenoneormoreeventsthatadverselyaffecttheexpectedfuturecashflowofafinancialassetoccur,thefinancialassetbecomesafinancialassetwithcreditimpairment.Evidenceofcreditimpairmentoffinancialassetsincludesthefollowingobservableinformation:
?Theissuerordebtorhasmajorfinancialdifficulties;?Thedebtorviolatesthecontract,suchasdefaultoroverduepaymentofinterestorprincipal;?TheCompanygivesconcessionsthatthedebtorwillnotmakeunderanyothercircumstancesduetoeconomicorcontractualconsiderationsrelatedtothedebtor'sfinancialdifficulties;?Thedebtorislikelytogobankruptorundergootherfinancialrestructuring;?Thefinancialdifficultiesoftheissuerordebtorcausetheactivemarketofthefinancialassetstodisappear.
PresentationofexpectedcreditlossprovisionInordertoreflectthechangeofcreditriskoffinancialinstrumentsafterinitialrecognition,theCompanyre-measurestheexpectedcreditlossoneachbalancesheetdate,andtheresultingincreaseorreversalamountoflossreserveshallbeincludedinthecurrentprofitsandlossesasimpairmentlossesorgains.Forfinancialassetsmeasuredinamortizedcost,thelossreserveshallbeoffsetagainstthebookvalueofthefinancialassetslistedinthebalancesheet;Forcreditor'srightsinvestmentsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincome,theCompanyrecognizesitslossreserveinothercomprehensiveincome,whichdoesnotoffsetthebookvalueofthefinancialasset.CancelafterverificationIftheCompanynolongerreasonablyexpectsthecontractcashflowoffinancialassetstobefullyorpartiallyrecovered,itwilldirectlywritedownthebookbalanceofthefinancialassets.Thiswrite-downconstitutesthederecognitionofrelatedfinancialassets.ItusuallyhappenswhentheCompanydeterminesthatthedebtorhasnoassetsorincomesourcestogenerateenoughcashflowtorepaytheamounttobewrittendown.However,accordingtotheCompany'sproceduresforrecoveringthedueamount,thewritten-downfinancialassetsmaystillbeaffectedbytheimplementationactivities.
Ifthewritten-downfinancialassetsarerecoveredlater,theywillbeincludedinprofitsandlossesofthecurrentrecoveryperiodasthereversalofimpairmentlosses.
(7)Transferoffinancialassets
Transferoffinancialassetsreferstothetransferordeliveryoffinancialassetstoanotherparty(transferee)otherthantheissuerofthefinancialassets.
Ifthecompanyhastransferredalmostallrisksandrewardsintheownershipofthefinancialassettothetransferee,therecognitionofthefinancialassetshallbeterminated;Ifalmostallrisksandrewardsontheownershipofafinancialassetareretained,thefinancialassetshallnotbederecognized.
IftheCompanyhasneithertransferrednorretainedalmostallrisksandrewardsintheownershipoffinancialassets,itshallbedealtwithasfollows:ifthecontrolofthefinancialassetsisabandoned,thefinancialassetsshallbederecognizedandtheresultingassetsandliabilitiesshallberecognized;Ifthecontrolofthefinancialassetsisnotabandoned,therelevantfinancialassetsshallberecognizedaccordingtotheextentoftheircontinuedinvolvementinthetransferredfinancialassets,andtherelevantliabilitiesshallberecognizedaccordingly.
(8)Offsetoffinancialassetsandfinancialliabilities
WhentheCompanyhasthelegalrighttooffsettherecognizedfinancialassetsandfinancialliabilities,whichcanbeenforcedatpresent,andtheCompanyplanstosettlebynetamountoratthesametimerealizesuchfinancialassetsandpayoffsuchfinancialliabilities,thefinancialassetsandfinancialliabilitiesarelistedinthebalancesheetwiththeamountafteroffset.Inaddition,financialassetsandfinancialliabilitiesarelistedseparatelyinthebalancesheetandwillnotbeoffsetagainsteachother.
11.NotesreceivableFornotesreceivableandaccountsreceivable,regardlessofwhetherthereissignificantfinancingcomponent,theCompanyalwaysmeasuresthelossreserveaccordingtotheamountequivalenttotheexpectedcreditlossinthewholeduration.
Whenasinglefinancialassetcannotevaluatetheexpectedcreditlossinformationatareasonablecost,theCompanydividesthenotesreceivableandaccountsreceivableintoportfoliosaccordingtothecreditriskcharacteristics,calculatestheexpectedcreditlossonthebasisofthecombinations,anddeterminesthecombinationonthefollowingbasis:
Notesreceivableportfolio1:bankacceptancebill
Notesreceivableportfolio2:commercialacceptancebill
Fornotesreceivabledividedintoportfolios,theCompanyreferstothehistoricalcreditlossexperience,andcalculatestheexpectedcreditlossthroughthedefaultriskexposureandtheexpectedcreditlossrateofthewholedurationbasedonthecurrentsituationandforecaststhefutureeconomicsituation.
12.Accountsreceivable
Fornotesreceivableandaccountsreceivable,regardlessofwhetherthereissignificantfinancingcomponent,theCompanyalwaysmeasuresthelossreserveaccordingtotheamountequivalenttotheexpectedcreditlossinthewholeduration.
Whenasinglefinancialassetcannotevaluatetheexpectedcreditlossinformationatareasonablecost,theCompanydividesthenotesreceivableandaccountsreceivableintoportfoliosaccordingtothecreditriskcharacteristics,calculatestheexpectedcreditlossonthebasisofthecombinations,anddeterminesthecombinationonthefollowingbasis:
Accountsreceivableportfolio1:polarizersalesreceivable
Accountsreceivableportfolio2:textileandgarmentsalesreceivable
Accountsreceivableportfolio3:operatingfundsreceivablefromself-ownproperty
Accountsreceivableportfolio4:otherreceivablesForaccountsreceivabledividedintocombinations,theCompanyreferstothehistoricalcreditlossexperience,combinesthecurrentsituationwiththeforecastoffutureeconomicsituation,compilesacomparisontableofaging/overduedaysofaccountsreceivableandtheexpectedcreditlossrateforthewholeduration,andcalculatestheexpectedcreditloss.
13.ReceivablefinancingForbillsreceivableandaccountsreceivableclassifiedasthosemeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome,theportionwithself-financingperiodwithinoneyear(includingoneyear)islistedasreceivablesfinancing;Iftheperiodofself-acceptanceismorethanoneyear,itshallbelistedasothercreditor'srightsinvestment.Forrelevantaccountingpolicies,pleaserefertoNoteV,(10)"FinancialInstruments"andNoteV,(10)"ImpairmentofFinancialinstruments".
14.Otheraccountreceivable
DeterminationmethodandaccountingtreatmentmethodofexpectedcreditlossofotherreceivablesTheCompanydividestheotherreceivablesintoseveralportfolioaccordingtothecreditriskcharacteristics,andcalculatestheexpectedcreditlossesonthebasisofdeterminingtheportfolioasfollows:
Otherreceivablesportfolio:ageportfolio:
Foraccountsreceivabledividedintocombinations,theCompanyreferstothehistoricalcreditlossexperience,combinesthecurrentsituationwiththeforecastoffutureeconomicsituation,compilesacomparisontableof
aging/overduedaysofaccountsreceivableandtheexpectedcreditlossrateforthewholeduration,andcalculatestheexpectedcreditloss.
15.Inventory
(1)Investoriesclass
TheCompany'sinventoryincludesrawmaterials,in-processproducts,low-valueconsumables,packagingmaterials,inventorygoods,andissuedgoods.
(2)Pricingmethodofissuedinventory
TheCompany'sinventoryispricedattheactualcostwhenitisacquired.Theweightedaveragemethodisadoptedwhenrawmaterialsandinventorygoodsareissued.
(3)Determinationbasisofnetrealizablevalueofinventoryandaccrualmethodofinventorydepreciationreserve
Thenetrealizablevalueofinventoryistheestimatedsellingpriceofinventoryminustheestimatedcoststobeincurreduponcompletion,estimatedsalesexpensesandrelatedtaxes.Fordeterminationofthenetrealizablevalueofinventories,thesolidevidenceshallserveasthebasis,andthepurposeofholdinginventoriesandtheinfluenceofeventsafterthebalancesheetdateshallbeconsidered.
Onthebalancesheetdate,iftheinventorycostishigherthanitsnetrealizablevalue,inventorydepreciationreserveshallbemade.TheCompanyusuallyaccruestheinventorydepreciationreserveaccordingtoindividualinventoryitems.Onthebalancesheetdate,iftheinfluencingfactorsofpreviousinventoryvaluewrittendownhavedisappeared,theinventorydepreciationreservewillbereturnedwithintheoriginallyaccruedamount.
(4)Inventorysystemofinventory
PerpetualinventorysystemisadoptedfortheCompany'sinventorysystem.
(5)Amortizationmethodoflow-valueconsumablesandpackagingmaterials
Low-valueconsumablesandpackagingmaterialsoftheCompanyareamortizedbyone-timewrite-offmethod.
16.Contractassets
TheCompanyliststhecustomer'sunpaidcontractconsiderationforwhichtheCompanyhasfulfilleditsperformanceobligationsaccordingtothecontract,andwhichisnottherighttocollectmoneyfromcustomersunconditionally(thatis,onlydependingonthepassageoftime)asacontractassetinthebalancesheet.Contractassetsandliabilitiesunderthesamecontractarelistedinnetamount,whilecontractassetsandliabilitiesunderdifferentcontractsarenotoffset.
17.ContractCost
Contractcostsincludeincrementalcostsincurredforobtainingcontractsandcontractperformancecosts.
TheincrementalcostincurredforobtainingthecontractreferstothecostthattheCompanywillnotincurwithoutobtainingthecontract(suchassalescommission,etc.).Ifthecostisexpectedtoberecovered,theCompanywillrecognizeitasthecontractacquisitioncostasanasset.OtherexpensesincurredbytheCompanytoobtainthecontractexcepttheincrementalcostexpectedtoberecoveredareincludedinthecurrentprofitsandlosseswhenincurred.
Ifthecostincurredfortheperformanceofthecontractdoesnotfallwithinthescopeofotheraccountingstandardsforenterprisessuchasinventoryandmeetsthefollowingconditionsatthesametime,theCompanywillrecognizeitasthecontractperformancecostasanasset:
①Suchcostisdirectlyrelatedtoacurrentorexpectedcontract,includingdirectlabor,directmaterials,manufacturingexpenses(orsimilarexpenses),costsclearlybornebythecustomer,andothercostsincurredonlyduetothiscontract;
②SuchcostincreasestheresourcesoftheCompanyforfulfillingitsperformanceobligationsinthefuture;
③Thecostisexpectedtoberecovered.
Assetsrecognizedbycontractacquisitioncostandassetsrecognizedbycontractperformancecost(hereinafterreferredtoas"AssetsRelatedtoContractCost")shallbeamortizedonthesamebasisastherevenuerecognitionofgoodsorservicesrelatedtotheassets,andshallbeincludedincurrentprofitsandlosses.
Whenthebookvalueoftheassetsrelatedtothecontractcostishigherthanthedifferencebetweenthefollowingtwoitems,theCompanywillaccrueimpairmentprovisionoftheexcessandrecognizeitastheassetimpairmentloss:
①TheremainingconsiderationexpectedtobeobtainedbytheCompanyduetothetransferofgoodsorservicesrelatedtotheasset;
②Theestimatedcosttobeincurredfortransferringtherelatedgoodsorservices.
Thecontractperformancecostrecognizedasanassetshallbeamortizedfornomorethanoneyearoronenormalbusinesscycleatthetimeofinitialrecognition,whichshallbelistedin"Inventory",andtheamortizationperiodformorethanoneyearoronenormalbusinesscycleatthetimeofinitialrecognitionshallbelistedin"OtherNon-currentAssets".
Thecontractacquisitioncostrecognizedasanassetshallbeamortizedfornomorethanoneyearoronenormalbusinesscycleatinitialrecognition,andshallbelistedin"OtherCurrentAssets".Theamortizationperiodforinitialrecognitionshallexceedoneyearoronenormalbusinesscycle,andshallbelistedin"OtherNon-currentAssets".
18.Held-for-saleassets
(1)Classificationandmeasurementofnon-currentassetsordisposalgroupsheldforsaleWhenthebookvalueofanon-currentassetordisposalgroupisrecoveredbytheCompanymainlybysellingit(includingtheexchangeofnon-monetaryassetswithcommercialnation)ratherthancontinuouslyusingit,thenon-currentassetordisposalgroupisclassifiedasheldforsale.Theabove-mentionednon-currentassetsdonotincludeinvestmentrealestatemeasuredbyfairvaluemodel,biologicalassetsmeasuredbynetamountoffairvalueminussellingexpenses,assetsformedbyemployeecompensation,financialassets,deferredincometaxassetsandrightsarisingfrominsurancecontracts.
Thedisposalgroupreferstoagroupofassetsdisposedoftogetherbysaleorothermeansinatransactionasawhole,andliabilitiesdirectlyrelatedtotheseassetstransferredinthetransaction.Undercertaincircumstances,thedisposalgroupincludesgoodwillobtainedinbusinesscombination,etc.
Meanwhile,non-currentassetsordisposalgroupsthatmeetthefollowingconditionsareclassifiedasheld-for-sale:accordingtothepracticeofsellingsuchassetsordisposalgroupsinsimilartransactions,thenon-currentassetsordisposalgroupscanbesoldimmediatelyunderthecurrentsituation;Thesaleisverylikelytohappen,thatis,aresolutionhasbeenmadeonasaleplanandacertainpurchasecommitmenthasbeenobtained,anditisexpectedthatthesalewillbecompletedwithinoneyear.Ifthecontroloversubsidiariesislostduetothesaleofinvestmentsinsubsidiaries,whetherornottheCompanyretainspartoftheequityinvestmentsafterthesale,whentheinvestmentinsubsidiariestobesoldmeetstheclassificationconditionsofholdingforsale,theinvestmentinsubsidiarieswillbeclassifiedasheld-for-saleasawholeinindividualfinancialstatements,andallassetsandliabilitiesofsubsidiarieswillbeclassifiedasheld-for-saleinconsolidatedfinancialstatements.
Whenthenon-currentassetsordisposalgroupsheldforsaleareinitiallymeasuredorre-measuredonthe
balancesheetdate,thedifferencebetweenthebookvalueandthenetamountafterdeductionofthesalesexpensesfromthefairvalueisrecognizedastheassetimpairmentloss.Fortheamountofassetimpairmentlossrecognizedbythedisposalgroupheldforsale,thebookvalueofgoodwillinthedisposalgroupisoffsetfirst,andthenthebookvalueofnon-currentassetsinthedisposalgroupisoffsetproportionally.
Ifthenetamountofnon-currentassetsheldforsaleordisposalgroup'sfairvalueminussalesexpensesincreasesonthesubsequentbalancesheetdate,thepreviouslywritten-downamountwillberestoredandreversedwithintheamountofassetimpairmentlossrecognizedafterbeingclassifiedasheld-for-sale,andthereversedamountwillbeincludedinthecurrentprofitsandlosses.Thebookvalueofoffsetgoodwillshallnotbereversed.
Non-currentassetsheldforsaleandassetsindisposalgroupheldforsalearenotdepreciatedoramortized;Interestandotherexpensesofliabilitiesindisposalgroupheldforsalecontinuetoberecognized.Allorpartoftheinvestmentsofassociatedenterprisesorjointventuresclassifiedasheldforsaleshallbeaccountedforbytheequitymethodforthoseclassifiedasheldforsale,whilethoseretained(notclassifiedasheldforsale)shallcontinuetobeaccountedforbytheequitymethod;WhentheCompanylosessignificantinfluenceontheassociatedenterprisesandjointventuresduetothesale,itshallstopusingtheequitymethod.
Ifacertainnon-currentassetordisposalgroupisclassifiedasheld-for-sale,buttheclassificationconditionsofheld-for-salearenolongermet,theCompanywillstopclassifyingitasheld-for-saleandmeasureitaccordingtothelowerofthefollowingtwoamounts:
①Thebookvalueoftheassetordisposalgroupbeforeitisclassifiedasheld-for-sale,andtheamountadjustedaccordingtothedepreciation,amortizationorimpairmentthatshouldhavebeenrecognizedwithoutbeingclassifiedasheld-for-sale;
②Recoverableamount.
19.Creditor'srightsinvestment
Creditor'srightsinvestmentmainlyaccountsforbondinvestmentmeasuredbyamortizedcost,etc.TheCompanyhasmeasuredtheimpairmentlossbasedontheamountofexpectedcreditlossesinthenext12monthsortheentireduration,basedonwhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition.
20.OtherCreditor'srightsinvestment
Forcreditor'srightsinvestmentandothercreditor'srightsinvestment,theCompanycalculatestheexpectedcreditlossaccordingtothenatureoftheinvestment,thecounterpartyandvarioustypesofriskexposureandbasedontheexpectedcreditlossrateinthenext12monthsorthewholeduration.
21.Long-termaccountreceivable
None
22.Long-termequityinvestments
Long-termequityinvestmentincludesequityinvestmentinsubsidiaries,jointventuresandassociatedenterprises.IftheCompanycanexertsignificantinfluenceontheinvestee,itisanassociatedenterpriseoftheCompany.
(1)DeterminationofinitialinvestmentcostLong-termequityinvestmentformingbusinesscombination:thelong-termequityinvestmentobtainedbybusinesscombinationunderthesamecontrolshallbetakenastheinvestmentcostaccordingtothebookvalueshareoftheowner'sequityofthecombinedpartyintheconsolidatedfinancialstatementsofthefinalcontrollingpartyonthecombinationdate;Long-termequityinvestmentobtainedbybusinesscombinationnotunderthesamecontrolshallberegardedastheinvestmentcostoflong-termequityinvestmentaccordingtothecombinationcost.
Forlong-termequityinvestmentobtainedbyothermeans:Forlong-termequityinvestmentobtainedbypaymentincash,theactualpurchasepriceistakenastheinitialinvestmentcost;Forlong-termequityinvestmentobtainedbyissuingequitysecurities,thefairvalueofissuingequitysecuritiesistakenastheinitialinvestmentcost.
(2)Subsequentmeasurementandprofitandlossrecognitionmethod
Investmentinsubsidiariesshallbeaccountedbycostmethod,unlesstheinvestmentmeetstheconditionsofholdingforsale;Investmentinassociatedenterprisesandjointventuresshallbeaccountedforbyequitymethod.
Forthelong-termequityinvestmentcalculatedbythecostmethod,exceptforthecashdividendsorprofitsthathavebeendeclaredbutnotyetissuedandthatincludedintheactualpaymentorconsideration,thecashdividendsorprofitsdeclaredanddistributedbytheinvesteearerecognizedasinvestmentincomeandincludedinthecurrentprofitsandlosses.
Iftheinitialinvestmentcostoflong-termequityinvestmentaccountedbyequitymethodisgreaterthanthefairvalueshareofidentifiablenetassetsoftheinvestee,theinvestmentcostoflong-termequityinvestmentshallnotbeadjusted;Iftheinitialinvestmentcostislessthanthefairvalueshareoftheidentifiablenetassetsoftheinvesteeatthetimeofinvestment,thebookvalueofthelong-termequityinvestmentshallbeadjusted,andthedifferenceshallbeincludedintheprofitandlossofthecurrentinvestmentperiod.
Incaseofaccountingbyequitymethod,theinvestmentincomeandothercomprehensiveincomearerecognizedrespectivelyaccordingtotheshareofnetprofitsandlossesandothercomprehensiveincomerealizedbytheinvestee,andthebookvalueoflong-termequityinvestmentisadjustedatthesametime;Accordingtotheprofitorcashdividenddeclaredanddistributedbytheinvestee,theparttobeentitledtoshallbecalculated,andthebookvalueoflong-termequityinvestmentshallbereducedcorrespondingly;Theinvesteeadjuststhebookvalueoflong-termequityinvestmentforotherchangesinowner'sequityexceptnetprofitsandlosses,othercomprehensiveincomeandprofitdistributionandincludesthemincapitalreserve(othercapitalreserve).Whenrecognizingtheshareofthenetprofitandlossoftheinvestee,thefairvalueofidentifiableassetsoftheinvesteeatthetimeofinvestmentistakenasthebasis,andthenetprofitoftheinvesteeisrecognizedafteradjustmentaccordingtotheaccountingpoliciesandaccountingperiodsoftheCompany.
Ifitcanexertsignificantinfluenceontheinvesteeduetoadditionalinvestmentorimplementjointcontrolbutdoesnotconstitutecontrol,ontheconversiondate,thesumofthefairvalueoftheoriginalequityplusthenewinvestmentcostshallbetakenastheinitialinvestmentcostcalculatedbytheequitymethodinstead.Thedifferencebetweenthefairvalueandbookvalueoftheoriginalequityontheconversiondate,aswellastheaccumulatedfairvaluechangesoriginallyincludedinothercomprehensiveincome,aretransferredtothecurrentprofitsandlossesaccountedforbytheequitymethod.
Ifthejointcontrolorsignificantinfluenceontheinvesteeislostduetothedisposalofsomeequityinvestments,theremainingequityafterdisposalshallbeaccountedforaccordingtoAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstrumentsonthedateoflossofjointcontrolorsignificantinfluence,andthedifferencebetweenfairvalueandbookvalueshallbeincludedinthe
currentprofitsandlosses.Othercomprehensiveincomerecognizedbytheoriginalequityinvestmentduetotheadoptionoftheequitymethodshallbeaccountedforonthesamebasisasthedirectdisposalofrelatedassetsorliabilitiesbytheinvesteewhentheequitymethodisterminated;Changesinotherowners'equityrelatedtotheoriginalequityinvestmentaretransferredintocurrentprofitsandlosses.Ifthecontrolovertheinvesteeislostduetothedisposalofpartofequityinvestment,andtheremainingequityafterdisposalcanjointlycontrolorexertsignificantinfluenceontheinvestee,itshallbeaccountedforaccordingtotheequitymethodinstead,andtheremainingequityshallberegardedasbeingadjustedbytheequitymethodwhenitisacquired;Iftheremainingequityafterdisposalcannotexercisejointcontrolorexertsignificantinfluenceontheinvestee,itshallbeaccountedforaccordingtotherelevantprovisionsofAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments,andthedifferencebetweenitsfairvalueandbookvalueonthedateoflossofcontrolshallbeincludedinthecurrentprofitsandlosses.IftheCompany'sshareholdingratiodecreasesduetocapitalincreaseofotherinvestors,causinglossofcontrol,butitcanexercisejointcontrolorexertsignificantinfluenceontheinvestee,theshareofnetassetsincreasedbytheinvesteeduetocapitalincreaseandshareexpansionshallberecognizedaccordingtothenewshareholdingratio,andthedifferencebetweentheoriginalbookvalueoflong-termequityinvestmentcorrespondingtothedecreasedshareholdingratioshallbeincludedinthecurrentprofitsandlosses;Then,accordingtothenewshareholdingratio,itisregardedasbeingadjustedbytheequitymethodwhentheinvestmentisobtained.
ForunrealizedinternaltransactiongainsandlossesbetweentheCompanyanditsassociatedenterprisesandjointventures,theportionattributabletotheCompanyshallbecalculatedaccordingtotheshareholdingratio,andinvestmentgainsandlossesshallberecognizedonthebasisofoffset.However,iftheunrealizedinternaltransactionlossesbetweentheCompanyandtheinvesteearetheimpairmentlossesofthetransferredassets,theywillnotbeoffset.
(3)Basisfordeterminationofjointcontrolandsignificantinfluenceontheinvestee
Jointcontrolreferstothecommoncontrolofanarrangementinaccordancewiththerelevantagreement,andtherelevantactivitiesofsucharrangementmustbeunanimouslyagreedbytheparticipantswhosharethecontrolrightsbeforeanydecisionismade.Whenjudgingwhetherthereiscommoncontrol,firstly,judgewhetherallparticipantsoracombinationofparticipantscollectivelycontrolthearrangement,andsecondly,judgewhetherthedecision-makingofactivitiesrelatedtothearrangementmustbeunanimouslyagreedbytheparticipantswhocollectivelycontrolthearrangement.Ifallparticipantsoragroupofparticipantsmustactinconcerttodecidetherelevantactivitiesofanarrangement,itisconsideredthatallparticipantsoragroupofparticipantscollectivelycontrolthearrangement;Iftwoormoreparticipantscancollectivelycontrolanarrangement,itdoesnotconstitutejointcontrol.Whenjudgingwhetheritisjointcontrol,theprotectiverightsentitledtoarenotconsidered.
Significantinfluencemeansthattheinvestorhastherighttoparticipateinthedecision-makingonthefinancialandoperatingpoliciesoftheinvestee,butcannotcontrolorjointlycontroltheformulationofthesepolicieswithotherparties.Whendeterminingwhetheritcanexertsignificantinfluenceontheinvestee,theinfluenceofthevotingsharesoftheinvesteedirectlyorindirectlyheldbytheinvestorandthecurrentexecutablepotentialvotingrightsheldbytheinvestorandotherpartiesshallbeconsidered,includingtheinfluenceofthecurrentconvertiblewarrants,shareoptionsandconvertiblecorporatebondsissuedbytheinvestee.
WhentheCompanydirectlyorindirectlyownsmorethan20%(including20%)butlessthan50%ofthevotingsharesoftheinvestee,itisgenerallyconsideredtohaveasignificantinfluenceontheinvestee,unless
thereisclearevidencethatitcannotparticipateintheproductionandoperationdecisionsoftheinvesteeundersuchcircumstances,inwhichcaseitdoesnothaveasignificantinfluence;WhentheCompanyownslessthan20%(excluding)ofthevotingsharesoftheinvestee,itisgenerallynotconsideredtohaveasignificantinfluenceontheinvestee,unlessthereisclearevidencethatitcanparticipateintheproductionandoperationdecisionsoftheinvesteeundersuchcircumstances,inwhichcaseithasasignificantinfluence.
(4)EquityinvestmentheldforsaleIfallorpartoftheequityinvestmentinanassociatedenterpriseorjointventureisclassifiedasassetsheldforsale,pleaserefertoNoteIII.13forrelevantaccountingtreatment.Fortheremainingequityinvestmentsthatarenotclassifiedasassetsheldforsale,theequitymethodisadoptedforaccountingtreatment.Iftheequityinvestmentinanassociatedenterpriseorjointventurethathasbeenclassifiedasheldforsalenolongermeetstheclassificationconditionsofassetsheldforsale,theequitymethodshallbeusedforretrospectiveadjustmentfromthedatethatitisclassifiedasassetsheldforsale.
(5)TestmethodforimpairmentandaccrualmethodforimpairmentprovisionForinvestmentinsubsidiaries,associatedenterprisesandjointventures,pleaserefertoNoteIII.31fortheaccrualmethodforimpairmentprovision.
23.InvestmentrealestateThemeasurementmodeofinvestmentpropertyThecompanyshalladoptthecostmodetomeasuretheinvestmentproperty.DepreciationorAmortizationMethodInvestmentrealestatereferstorealestateheldforrentorcapitalappreciation,orboth.TheCompany'sinvestmentrealestateincludesleasedlanduserights,landuserightstransferredafterholdingandpreparingforappreciation,andleasedbuildings.TheCompany'sinvestmentrealestateisinitiallymeasuredaccordingtothecostatthetimeofacquisition,anddepreciationoramortizationisaccruedonscheduleaccordingtotherelevantprovisionsoffixedassetsorintangibleassets.Forinvestmentrealestatethatissubsequentlymeasuredbycostmodel,pleaserefertoNoteIII.31fortheaccrualmethodofassetimpairment.Thedifferencebetweenthedisposalincomefromthesale,transfer,scrappingordamageofinvestmentrealestateafterdeductionofitsbookvalueandrelatedtaxesshallbeincludedinthecurrentprofitsandlosses.
24.Fixedassets
(1)RecognitionconditionsoffixedassetsTheCompany'sfixedassetsrefertotangibleassetsheldfortheproductionofcommodities,provisionoflaborservices,leasingoroperationandmanagement,withaservicelifeexceedingonefiscalyear.Onlywhentheeconomicbenefitsrelatedtothefixedassetsarelikelytoflowintotheenterpriseandthecostofthefixedassetscanbemeasuredreliably,canthefixedassetsberecognized.
ThefixedassetsoftheCompanyareinitiallymeasuredaccordingtotheactualcostatthetimeofacquisition.SubsequentexpendituresrelatedtofixedassetsareincludedinthecostoffixedassetswhentheeconomicbenefitsrelatedtothemarelikelytoflowintotheCompanyandthecostcanbemeasuredreliably;Dailyrepairexpensesoffixedassetsthatdonotmeettherequirementsforsubsequentexpendituresofcapitalizationoffixedassetsareincludedinthecurrentprofitsandlossesorthecostofrelatedassetsaccordingtothebeneficiaries
whentheyoccur.Forthereplacedpart,thebookvalueisderecognized.
(2)Themethodfordepreciation
Themethodfordepreciation | Expectedusefullife(Year) | Estimatedresidualvalue | Depreciation | |
HouseandBuilding-Production | Straight-linemethod | 35 | 4 | 2.74 |
HouseandBuilding-Non-Production | Straight-linemethod | 40 | 4 | 2.40 |
DecorationofFixedassets | Straight-linemethod | 10 | 10.00 | |
Machineryandequipment | Straight-linemethod | 10-14 | 4 | 9.60-6.86 |
Transportationequipment | Straight-linemethod | 8 | 4 | 12.00 |
Electronicequipment | Straight-linemethod | 5 | 4 | 19.20 |
Otherequipment | Straight-linemethod | 5 | 4 | 19.20 |
Thecompanyusesthelifeaveragemethodtocalculatethedepreciation.Depreciationoffixedassetsstartsfromreachingthepredeterminedusablestate,endsofconfirmationordividedintonon-currentassetsforsale.Amongthem,forthefixedassetsthathavebeenpreparedforimpairment,theaccumulatedamountofthefixedassetsshallbecalculatedtodeterminethedepreciationrate.Attheendofeachyear,theCompanyreviewstheservicelife,estimatednetresidualvalueanddepreciationmethodofthefixedassets.Iftheservicelifeestimateoffixedassetsisdifferentfromtheoriginalestimate,theestimatedservicelifeoffixedassetsisadjusted;iftheestimatednetresidualvalueisdifferent.Terminatesrecognitionofthefixedassetwhenitisdisposedoforisexpectedtoyieldnoeconomicbenefitthroughuseordisposal.Theamountofdisposalincomefromthesale,transfer,scrappingordestructionoffixedassetsexcludingitsbookvalueandrelatedtaxesshallbeincludedinthecurrentprofitandloss.
(3)CognizanceevidenceandpricingmethodoffinancialleasingfixedassetsFixedassetsleasedbytheCompanyshallberecognizedasfixedassetsacquiredunderfinanceleaseswhentheymeetoneormoreofthefollowingcriteria:①Uponexpirationoftheleaseterm,theownershipoftheleasedassetsshallbetransferredtotheCompany.②TheCompanyhastheoptionrighttopurchasetheleasedassets,andtheconcludedpurchasepriceisexpectedtobefarlowerthanthefairvalueoftheleasedassetswhenexercisingtheoptionright.Therefore,theexerciseofthisoptionrightbytheCompanycanbedeterminedreasonablyonthestartingdateofthelease.③Eventhoughtheownershipoftheassetsisnottransferred,theleasetermaccountsformostoftheservicelifeoftheleasedassets.④ThepresentvalueoftheminimumleasepaymentoftheCompanyontheleasestartdateisalmostequaltothefairvalueoftheleasedassetsontheleasestartdate.⑤Incaseofspecialpropertiesoftheleasedassetsandnolargealteration,onlytheCompanycanusethem.Fixedassetsleasedbyfinanceleaseshallberecordedatthelowerofthefairvalueoftheleasedassetsontheleasestartdateandthepresentvalueoftheminimumleasepayment.Theminimumleasepaymentistakenastherecordedvalueoflong-termpayables,andthedifferenceistakenasunrecognizedfinancingexpenses.
Initialdirectexpensessuchashandlingfees,attorneyfees,travelexpenses,stampduty,etc.,whichoccurduringtheleasenegotiationandsigningoftheleasecontract,areincludedinthevalueoftheleasedassets.Unrecognizedfinancingexpensesareamortizedbytheeffectiveinterestratemethodineachperiodoftheleaseterm.Fixedassetsleasedbyfinancingshallbedepreciatedbyadoptingpoliciesconsistentwiththeself-ownedfixedassets.Ifitcanbereasonablydeterminedthattheownershipoftheleasedassetwillbeacquiredupontheexpirationoftheleaseterm,depreciationshallbeaccruedwithintheserviceablelifeoftheleasedasset;Ifitisimpossibletoreasonablydeterminethattheownershipoftheleasedassetcanbeacquiredattheexpirationoftheleaseterm,depreciationshallbeaccruedwithintheshorteroftheleasetermandtheserviceablelifeoftheleasedasset.
25.Constructioninprogress
ThecostofconstructioninprogressoftheCompanyisdeterminedaccordingtotheactualprojectexpenditure,includingallnecessaryprojectexpendituresincurredduringtheconstructionperiod,borrowingcoststhatshouldbecapitalizedbeforetheprojectreachestheintendedusablestate,andotherrelatedexpenses.Constructioninprogressistransferredtofixedassetswhenitreachesthescheduledusablestate.SeeNoteV.31forthemethodofdepreciationofassetsinconstructioninprogress.
26.Borrowingcosts
(1)Recognitionprincipleofcapitalizationofborrowingcosts
IftheborrowingcostsincurredbytheCompanycanbedirectlyattributedtothepurchase,constructionorproductionofassetsthatmeetthecapitalizationconditions,theywillbecapitalizedandincludedintherelevantassetcosts;Otherborrowingcosts,whenincurred,arerecognizedasexpensesaccordingtotheamountincurred,andincludedincurrentprofitsandlosses.Borrowingcostsshallbecapitalizediftheymeetthefollowingconditionsatthesametime:
①Assetexpenditurehasalreadyoccurred,includingtheexpenditureincurredintheformofpaymentincash,transferofnon-cashassetsorassumptionofinterest-bearingdebtsforthepurchase,constructionorproductionofassetsthatmeetthecapitalizationconditions;
②Borrowingcostshavealreadyoccurred;
③Thepurchase,constructionorproductionactivitiesnecessarytomaketheassetsreachtheintendedusableorsaleablestatehavestarted.
(2)Capitalizationperiodofborrowingcosts
Capitalizationofborrowingcostsshallbestoppedwhenassetseligibleforcapitalizationacquired,constructedorproducedbytheCompanyreachtheintendedusableorsaleablestate.Borrowingcostsincurredaftertheassetsinlinewiththecapitalizationconditionsreachtheintendedusableorsaleablestateshallberecognizedasexpensesaccordingtotheamountincurredwhentheyoccur,andshallbeincludedincurrentprofitsandlosses.
Iftheassetsthatmeetthecapitalizationconditionsareabnormallyinterruptedintheprocessofpurchase,constructionorproduction,andtheinterruptionlastsexceeds3months,thecapitalizationofborrowingcostsshallbesuspended;Borrowingcostsduringnormalinterruptionperiodcontinuetobecapitalized.
(3)Capitalizationrateofborrowingcostsandcalculationmethodofcapitalizationamount
Theinterestexpensesactuallyincurredinthecurrentperiodofspecialborrowingshallbecapitalizedafterdeductingtheinterestincomefromtheunusedborrowingfundsdepositedinthebankortheinvestmentincomefromtemporaryinvestment;Thecapitalizationamountofgeneralborrowingsisdeterminedbymultiplyingtheweightedaverageoftheaccumulatedassetexpenditureoverthespecialloanbythecapitalizationrateoftheoccupiedgeneralborrowings.Capitalizationrateiscalculatedanddeterminedaccordingtotheweighted
averageinterestrateofgeneralborrowings.Duringthecapitalizationperiod,alltheexchangedifferencesofspecialborrowingsinforeigncurrencyarecapitalized;Exchangedifferencesofgeneralborrowingsinforeigncurrencyareincludedincurrentprofitsandlosses.
27.BiologicalAssetsNone
28.Oil&GasassetsNone
29.Righttouseassets
(1)Conditionsforrecognizingtheright-to-useassetsTheCompany'sright-to-useassetsreferstotherightoftheCompanyasthelesseetousetheleasedassetsduringtheleaseterm.Onthestartdateoftheleaseterm,theright-to-useassetsisinitiallymeasuredatcost.Thecostincludes:theinitialmeasurementamountofleaseliabilities;Theleasepaymentamountissuedonorbeforethestartdateoftheleaseterm,whereifthereisaleaseincentive,theamountrelatedtotheentitledleaseincentiveshallbededucted;TheinitialdirectexpensesincurredbytheCompanyasthelessee;ThecostexpectedtobeincurredbytheCompanyasthelesseetodismantleandremovetheleasedassets,restorethesitewheretheleasedassetsarelocatedorrestoretheleasedassetstothestateagreedintheleaseterms.TheCompany,asthelessee,recognizesandmeasuresthedemolitionandrestorationcostsinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.13-Contingencies.Subsequentadjustmentsshallbemadetoanyremeasurementofleaseliabilities.
(2)Depreciationmethodofright-to-useassetsTheCompanyadoptsthestraight-linemethodtoaccruedepreciation.IftheCompany,asthelessee,canreasonablydeterminethattheownershipoftheleasedassetsisacquiredattheexpirationoftheleaseterm,depreciationshallbeaccruedwithintheremainingservicelifeoftheleasedassets.Ifitcannotbereasonablydeterminedthattheownershipoftheleasedassetscanbeobtainedattheexpirationoftheleaseterm,depreciationshallbeaccruedduringtheleasetermortheremainingservicelifeoftheleasedassets,whicheverisshorter.SeeNoteVI.31fortheimpairmenttestmethodoftheright-to-useassetsandtheprovisionmethodforimpairment.
30.Intangibleassets
(1)TheintangibleassetsoftheCompanyincludelanduserights,proprietarytechnologyandsoftware.Intangibleassetsareinitiallymeasuredatcost,andtheirservicelifeisanalyzedandjudgedwhentheyareacquired.Iftheservicelifeislimited,theintangibleassetsshallbeamortizedwithintheexpectedservicelifebytheamortizationmethodthatcanreflecttheexpectedrealizationmodeoftheeconomicbenefitsrelatedtotheassetsfromthetimewhentheyareavailableforuse;Ifitisimpossibletoreliablydeterminetheexpectedrealizationmode,theyshallbeamortizedbystraight-linemethod;Intangibleasset\swithuncertainservicelifearenotamortized.
Amortizationmethodsofintangibleassetswithlimitedservicelifeareasfollows:
Items | Usefullife(year) | Amortizationmethod | Notes |
Landuseright | 50 | Straight | |
Specialtechnoloogy | 15 | Straight | |
Software | 5 | Straight |
Attheendofeachyear,theCompanyrecheckstheservicelifeandamortizationmethodofintangibleassetswithlimitedservicelife,adjuststheoriginalestimateifitisdifferentfromthepreviousestimate,andhandlesthechangeaccordingtotheaccountingestimate.Onthebalancesheetdate,ifitisestimatedthatanintangibleassetcannolongerbringfutureeconomicbenefitstotheenterprise,allthebookvalueoftheintangibleassetwillbetransferredtothecurrentprofitsandlosses.
(2)AccountingPolicyofInternalResearchandDevelopmentExpenditure
TheCompanydividestheexpenditureofinternalresearchanddevelopmentprojectsintoexpendituresinresearchstageandexpendituresindevelopmentstage.
Expendituresinresearchstageareincludedincurrentprofitsandlosseswhentheyoccurs.
Expendituresindevelopmentstagecanonlybecapitalizediftheymeetthefollowingconditions:itistechnicallyfeasibletocompletetheintangibleassetssothattheycanbeusedorsold;Thereistheintentiontocompletetheintangibleassetsanduseorsellthem;Thewaysinwhichintangibleassetsgenerateeconomicbenefits,includingthosethatcanprovetheexistenceofmarketforproductsproducedbytheintangibleassetsortheexistenceofmarketfortheintangibleassetsthemselves,andthatfortheintangibleassetsthatwillbeusedinternally,theirusefulnesscanbeproved;Therearesufficienttechnical,financialandotherresourcestocompletethedevelopmentoftheintangibleassetsandtheabilitytouseorselltheintangibleassets;Expendituresattributabletothedevelopmentstageoftheintangibleassetscanbemeasuredreliably.Developmentexpendituresthatdonotmeettheaboveconditionsareincludedincurrentprofitsandlosses.
TheresearchanddevelopmentprojectoftheCompanywillenterthedevelopmentstageaftertheaboveconditionsaremetandaprojectisapprovedthroughtechnicalfeasibilityandeconomicfeasibilitystudy.
Capitalizedexpendituresindevelopmentstagearelistedasdevelopmentexpendituresonthebalancesheet,andareconvertedintointangibleassetsfromthedatewhentheprojectreachestheintendedpurpose.
31.Long-termAssetsImpairment
Theassetimpairmentoflong-termequityinvestmentofsubsidiaries,associatedenterprisesandjointventures,investmentrealestate,fixedassets,constructioninprogress,intangibleassets,goodwill,etc.(exceptinventory,investmentrealestatemeasuredaccordingtofairvaluemodel,deferredincometaxassetsandfinancialassets)shallbedeterminedaccordingtothefollowingmethods:
Onthebalancesheetdate,judgewhetherthereisanysignofpossibleimpairmentofassets.Ifthereisanysignofimpairment,theCompanywillestimateitsrecoverableamountandconductimpairmenttest.Thegoodwillformedbybusinesscombination,intangibleassetswithuncertainservicelifeandintangibleassetsthathavenotyetreachedtheusablestatearetestedforimpairmenteveryyearregardlessofwhetherthereisanysignofimpairment.
Therecoverableamountisdeterminedaccordingtothehigherofthenetamountofthefairvalueoftheassetminusthedisposalexpensesandthepresentvalueoftheestimatedfuturecashflowoftheasset.TheCompanyestimatesitsrecoverableamountonthebasisofindividualassets;Ifitisdifficulttoestimatethe
recoverableamountofasingleasset,therecoverableamountoftheassetgroupshallbedeterminedbasedontheassetgrouptowhichtheassetbelongs.Theidentificationofassetgroupisbasedonwhetherthemaincashinflowgeneratedbyassetgroupisindependentofcashinflowofotherassetsorassetgroups.Whentherecoverableamountofanassetorassetgroupislowerthanitsbookvalue,theCompanywillwritedownitsbookvaluetotherecoverableamount,andthewritten-downamountwillbeincludedinthecurrentprofitsandlosses,andthecorrespondingassetimpairmentprovisionwillbeaccruedatthesametime.
Asfarastheimpairmenttestofgoodwillisconcerned,thebookvalueofgoodwillformedbybusinesscombinationisamortizedtorelevantassetgroupsaccordingtoareasonablemethodfromtheacquisitiondate;Ifitisdifficulttoamortizetotherelatedassetgroup,itshallbeamortizedtotherelatedassetgroupportfolio.Therelatedassetgrouporassetgroupportfolioisonethatcanbenefitfromthesynergyeffectofbusinesscombination,andisnotlargerthanthereportingsegmentdeterminedbytheCompany.
Intheimpairmenttest,iftherearesignsofimpairmentintheassetgrouporassetgroupportfoliorelatedtogoodwill,firstly,theassetgrouporassetgroupportfoliowithoutgoodwillshallbetestedforimpairment,therecoverableamountshallbecalculated,andthecorrespondingimpairmentlossshallberecognized.Thenimpairmenttestshallbecarriedoutontheassetgrouporassetgroupportfoliocontaininggoodwill,anditsbookvalueshallbecomparedwiththerecoverableamount.Iftherecoverableamountislowerthanthebookvalue,theimpairmentlossofgoodwillshallberecognized.
Oncetheassetimpairmentlossisrecognized,itwillnotbereversedinfutureaccountingperiods.
32.Long-termdeferredexpenses
Thelong-termdeferredexpensesincurredbytheCompanyarepricedatactualcostandamortizedequallyaccordingtotheexpectedbenefitperiod.Forlong-termdeferredexpenseitemsthatcannotbenefitfutureaccountingperiods,alltheiramortizedvaluesareincludedincurrentprofitsandlosses.
33.Contractliabilities
ContractliabilitiesrefertotheobligationoftheCompanytotransfergoodstocustomersforthereceivedorreceivableconsiderationfromcustomers.IfthecustomerhaspaidthecontractconsiderationortheCompanyhasobtainedtheunconditionalcollectionrightbeforetheCompanytransfersthegoodstothecustomer,theCompanywilllistthereceivedorreceivableamountasthecontractliabilityattheearlieroftheactualpaymentmadebythecustomerandtheduedateforpayment.Contractassetsandliabilitiesunderthesamecontractarelistedinnetamount,whilecontractassetsandliabilitiesunderdifferentcontractsarenotoffset.
34.Remuneration
1.AccountingTreatmentMethodofShort-termCompensation
Duringtheaccountingperiodwhenemployeesprovideservices,theCompanyrecognizestheactualwages,bonuses,socialinsurancepremiumssuchasmedicalinsurancepremiums,work-relatedinjuryinsurancepremiumsandmaternityinsurancepremiumspaidforemployeesandhousingprovidentfundsasliabilities,andincludesthemincurrentprofitsandlossesorrelatedassetcosts.Iftheliabilityisnotexpectedtobefullypaidwithintwelvemonthsaftertheendoftheannualreportingperiodwhenemployeesproviderelevantservices,andthefinancialimpactissignificant,theliabilitywillbemeasuredatthediscountedamount.
2.AccountingTreatmentMethodofSeveranceBenefitPlans
After-servicebenefitplanincludesdefinedcontributionplananddefinedbenefitplans.Wheretheset
depositplanreferstothepost-employmentbenefitsplaninwhichtheenterprisenolongerundertakesfurtherpaymentobligationsafterpayingfixedfeestoindependentfunds;Setbenefitplanreferstothepost-employmentbenefitsplanexceptthesetdepositplan.SetdepositplanThesetdepositplanincludesbasicold-ageinsurance,unemploymentinsuranceandenterpriseannuityplan,etc.
Inadditiontothebasicold-ageinsurance,theCompanyestablishesanenterpriseannuityplan("annuityplan")accordingtotherelevantpoliciesofthenationalenterpriseannuitysystem,andemployeescanvoluntarilyparticipateintheannuityplan.Moreover,theCompanyhasnoothersignificantsocialsecuritycommitmentsforemployees.Duringtheaccountingperiodwhenemployeesprovideservices,theamountthatshouldbepaidaccordingtothesetdepositplanisrecognizedasaliabilityandincludedinthecurrentprofitsandlossesorrelatedassetcosts.SetbenefitplanForsetbenefitplans,anactuarialvaluationisconductedbyanindependentactuaryontheannualbalancesheetdate,andthecostofbenefitprovisionisdeterminedbytheexpectedcumulativebenefitunitmethod.TheemployeeremunerationcostcausedbysetbenefitplansoftheCompanyincludesthefollowingcomponents:
①Servicecost,includingcurrentservicecost,pastservicecostandsettlementgainorloss.Where:thecurrentservicecostreferstotheincreaseofthepresentvalueofsetbenefitplanobligationscausedbytheemployeesprovidingservicesinthecurrentperiod;Pastservicecostreferstotheincreaseordecreaseofthepresentvalueofsetbenefitplanobligationsrelatedtoemployeeserviceinpreviousperiodcausedbythemodificationofsetbenefitplans.
②Thenetinterestofsetbenefitplan'snetliabilitiesornetassets,includinginterestincomeofplannedassets,interestexpenseofsetbenefitplanobligationsandinterestaffectedbyassetceiling.
③Changesarisingfromremeasurementofnetliabilitiesornetassetsofsetbenefitplans.
Unlessotheraccountingstandardsrequireorallowemployeebenefitcoststobeincludedinassetcosts,theCompanywillincludetheaboveitems①and②incurrentprofitsandlosses;Includeitem③inothercomprehensiveincomeandsuchitemwillnotbetransferredbacktoprofitorlossinthesubsequentaccountingperiod.Whentheoriginalsetbenefitplanisterminated,allthepartsoriginallyincludedinothercomprehensiveincomewillbecarriedforwardtoundistributedprofitswithinthescopeofequity.
3.AccountingTreatmentMethodofDemissionWelfare
IftheCompanyprovidesdismissalbenefitstoemployees,theemployeeremunerationliabilitiesarisingfromthedismissalbenefitsshallberecognizedandincludedinthecurrentprofitsandlossesontheearlierofthefollowingdates:WhentheCompanycannotunilaterallywithdrawthedismissalbenefitsprovidedbytheterminationoflaborrelationsplanorlayoffproposal;WhentheCompanyrecognizesthecostsorexpensesrelatedtothereorganizationinvolvingthepaymentofdismissalbenefits.
Iftheemployee'sinternalretirementplanisimplemented,theeconomiccompensationbeforetheofficialretirementdateisthedismissalbenefit.Fromthedaywhentheemployeestopsprovidingservicestothenormalretirementdate,thewagesoftheretiredemployeesandthesocialinsurancepremiumspaidwillbeincludedinthecurrentprofitsandlossesatonetime.Economiccompensationaftertheofficialretirementdate(suchasnormalpension)shallbetreatedaspost-employmentbenefits.
4.AccountingTreatmentMethodofOtherLong-termEmployeeBenefits
Ifotherlong-termemployeebenefitsprovidedbytheCompanytoemployeesmeettheconditionsforthesetdepositplan,theyshallbehandledinaccordancewiththeabove-mentionedrelevantprovisionsonthesetdepositplan.Ifitmeetsthesetbenefitplans,itshallbehandledinaccordancewiththeabove-mentionedrelevantregulationsonsetbenefitplans,butthepartoftherelatedemployeeremunerationcost,whichis"thechangecausedbyremeasurementofsetbenefitplan'snetliabilitiesornetassets",shallbeincludedinthecurrentprofitsandlossesorrelatedassetcosts.
35.LeaseliabilitiesThecompanyinitiallymeasurestheleaseliabilitiesaccordingtothepresentvalueoftheunpaidleasepaymentsatthebeginningoftheleaseterm.Whencalculatingthepresentvalueoftheleasepayments,thecompanyadoptstheinterestrateincludedintheleaseasthediscountrate;Iftheinterestrateincludedintheleasecannotbedetermined,thecompany'sincrementalborrowinginterestrateshallbeadoptedasthediscountrate.Leasepaymentsinclude:
①Thefixedpaymentamountandtheactualfixedpaymentamountafterdeductingtherelevantamountofleaseincentive;②Variableleasepaymentsbasedonindicesorratios;③Ifthecompanyreasonablydeterminesthattheoptionwillbeexercised,theleasepaymentincludestheexercisepriceofthepurchaseoption;④Iftheleasetermreflectsthatthecompanywillexercisetheoptiontoterminatethelease,theleasepaymentincludesthepaymentrequiredtoexercisetheoptiontoterminatethelease;⑤Theamountexpectedtobepaidaccordingtotheguaranteedresidualvalueprovidedbythecompany.Thecompanycalculatestheinterestexpenseoftheleaseliabilityineachperiodoftheleasetermaccordingtothefixeddiscountrate,andrecordsitintothecurrentprofitandlossorrelevantassetcost.Theamountofvariableleasepaymentsnotincludedinthemeasurementofleaseliabilitiesshallbeincludedinthecurrentprofitsandlossesorrelevantassetcostswhenactuallyincurred.
36.EstimatedLiabilities
Iftheobligationrelatedtocontingenciesmeetsthefollowingconditionsatthesametime,theCompanywillrecognizeitasestimatedliabilities:
(1)SuchobligationisthecurrentobligationundertakenbytheCompany;
(2)TheperformanceofsuchobligationislikelytoleadtotheoutflowofeconomicbenefitsfromtheCompany;
(3)Theamountofsuchobligationcanbemeasuredreliably.
Estimatedliabilitiesareinitiallymeasuredaccordingtothebestestimateofexpenditurerequiredtofulfillrelevantcurrentobligations,andfactorssuchasrisks,uncertaintiesandtimevalueofmoneyrelatedtocontingenciesarecomprehensivelyconsidered.Ifthetimevalueofmoneyhasgreatinfluence,thebestestimateisdeterminedbydiscountingtherelatedfuturecashoutflow.TheCompanyrechecksthebookvalueoftheestimatedliabilitiesonthebalancesheetdate,andadjuststhebookvaluetoreflectthecurrentbestestimate.
Ifallorpartoftheexpensesrequiredtopayofftherecognizedestimatedliabilitiesareexpectedtobecompensatedbyathirdpartyorotherparties,thecompensationamountcanonlyberecognizedasanassetwhenitisbasicallyconfirmedthatitcanbereceived.Therecognizedcompensationamountshallnotexceedthe
bookvalueoftherecognizedliabilities.
37.Sharepayment
(1)Typesofshare-basedpaymentTheshare-basedpaymentoftheCompanyisdividedintoequity-settledshare-basedpaymentandcash-settledshare-basedpayment.
(2)MethodfordeterminingfairvalueofequityinstrumentsThefairvalueofequityinstrumentssuchasoptionsgrantedbytheCompanywithactivemarketisdeterminedaccordingtothequotedpriceintheactivemarket.Thefairvalueofgrantedequityinstrumentssuchasoptionswithoutactivemarketisdeterminedbyoptionpricingmodel.Theselectedoptionpricingmodelconsidersthefollowingfactors:A.Theexercisepriceofoptions;B.Thevalidityperiodoftheoption;C.Thecurrentpriceoftheunderlyingshares;D.Estimatedvolatilityofshareprice;E.Expecteddividendofshares;F.Risk-freeinterestratewithinthevalidityperiodoftheoption.
(3)BasisfordeterminingthebestestimationoffeasibleequityinstrumentsOneachbalancesheetdateduringthewaitingperiod,theCompanymakesthebestestimatebasedonthelatestavailablefollow-upinformationsuchaschangesinthenumberofemployeeswithfeasiblerights,andrevisestheestimatednumberofequityinstrumentswithfeasiblerights.Onthevestingdate,thefinalestimatednumberofvestingrightsandinterestsinstrumentsshallbeconsistentwiththeactualnumberofvestingrights.
(4)Accountingtreatmentrelatedtoimplementation,modificationandterminationofshare-basedpaymentplanEquity-settledshare-basedpaymentismeasuredatthefairvalueofequityinstrumentsgrantedtoemployees.Iftherightisexercisedimmediatelyafterthegrant,therelevantcostsorexpensesshallbeincludedinthefairvalueofequityinstrumentsonthegrantdate,andthecapitalreserveshallbeincreasedaccordingly.Iftherightscanbeexercisedonlyaftertheserviceswithinthewaitingperiodarecompletedorthespecifiedperformanceconditionsaremet,oneachbalancesheetdatewithinthewaitingperiod,basedonthebestestimateofthenumberofequityinstrumentsavailable,theservicesobtainedinthecurrentperiodshallbeincludedintherelevantcostsorexpensesandcapitalreserveaccordingtothefairvalueonthegrantdateofequityinstruments.Afterthevestingdate,therecognizedrelatedcostsorexpensesandthetotalowner'sequitywillnotbeadjusted.Equity-settledshare-basedpaymentshallbemeasuredaccordingtothefairvalueofliabilitiescalculatedanddeterminedonthebasisofsharesorotherequityinstrumentsundertakenbytheCompany.Iftherightisexercisedimmediatelyafterthegrant,thefairvalueoftheliabilitiesassumedbytheCompanyshallbeincludedintherelevantcostsorexpensesonthegrantdate,andtheliabilitiesshallbeincreasedaccordingly.Forcash-settledshare-basedpaymentthatisfeasibleonlyaftertheservicewithinthewaitingperiodiscompletedorthespecifiedperformanceconditionsaremet,oneachbalancesheetdatewithinthewaitingperiod,basedonthebestestimationofthefeasibilityandaccordingtothefairvalueoftheliabilitiesassumedbytheCompany,theservicesobtainedinthecurrentperiodareincludedinthecostsorexpensesandcorrespondingliabilities.Oneachbalancesheetdateandsettlementdatebeforethesettlementofrelatedliabilities,thefairvalueofliabilitiesshallbere-measured,andthechangesshallbeincludedinthecurrentprofitsandlosses.
WhentheCompanymodifiestheshare-basedpaymentplan,ifthefairvalueofthegrantedequityinstrumentsisincreasedbymodification,theincreaseoftheservicesobtainedshallberecognizedaccordingtotheincreaseofthefairvalueoftheequityinstruments;Ifthenumberofgrantedequityinstrumentsisincreasedbymodification,thefairvalueoftheincreasedequityinstrumentswillberecognizedastheincreaseinservicesobtainedaccordingly.Theincreaseoffairvalueofequityinstrumentsreferstothedifferencebetweenthefair
valuesofequityinstrumentsbeforeandaftermodificationonthemodificationdate.Ifthetotalfairvalueofshare-basedpaymentisreducedbymodificationorthetermsandconditionsoftheshare-basedpaymentplanaremodifiedinotherwaysthatareunfavorabletoemployees,theaccountingtreatmentoftheobtainedserviceswillcontinue,asifwithnochangesunlesstheCompanycancelssomeorallofthegrantedequityinstruments.Duringthewaitingperiod,ifthegrantedequityinstrumentsarecancelled(exceptthosecancelledduetonon-marketconditionsthatdonotmeetthefeasiblerightsconditions),theCompanywilltreatthecancellationofthegrantedequityinstrumentsasanacceleratedexercise,andimmediatelyrecordtheamounttoberecognizedintheremainingwaitingperiodintothecurrentprofitsandlosses,andrecognizethecapitalreserveatthesametime.Iftheemployeeorotherpartycanchoosetomeetthenon-feasiblerightconditionbutfailstomeetitduringthewaitingperiod,theCompanywilltreatitasacancellationforgrantingequityinstruments.
38.OtherfinancialinstrumentssuchaspreferredstocksandperpetualbondsNone
39.RevenueAccountingpoliciesadoptedforincomerecognitionandmeasurement
(1)GeneralprinciplesTheCompanyhasfulfilledtheperformanceobligationinthecontract,thatis,torecognizetherevenuewhenthecustomerobtainsthecontrolrightofrelatedgoodsorservices.Ifthecontractcontainstwoormoreperformanceobligations,theCompanywillamortizethetransactionpricetoeachindividualperformanceobligationaccordingtotherelativeproportionoftheindividualsellingpriceofthegoodsorservicespromisedbyeachindividualperformanceobligationonthecontractstartdate,andmeasuretheincomeaccordingtothetransactionpriceamortizedtoeachindividualperformanceobligation.Whenoneofthefollowingconditionsismet,theCompanywillfulfillitsperformanceobligationswithinacertainperiodoftime;Otherwise,itperformstheperformanceobligationatacertaintime:
①ThecustomerobtainsandconsumestheeconomicbenefitsbroughtbytheCompany'sperformanceatthesametimeoftheitsperformance.
②CustomerscancontrolthegoodsunderconstructionduringtheperformanceoftheCompany.
③ThecommoditiesproducedduringtheperformanceoftheCompanyhaveirreplaceableuses,andtheCompanyhastherighttocollectpaymentfortheperformancepartaccumulatedsofarduringthewholecontractperiod.
Fortheperformanceobligationsperformedwithinacertainperiodoftime,theCompanyrecognizestheincomeaccordingtotheperformanceprogresswithinthatperiod.Iftheperformanceprogresscannotbereasonablydetermined,andthecostincurredoftheCompanyisexpectedtobecompensated,theincomeshallberecognizedaccordingtotheamountofthecostincurreduntiltheperformanceprogresscanbereasonablydetermined.
Forobligationsperformedatacertaintime,theCompanyshallrecognizetheincomeatthetimewhenthecustomerobtainscontroloftherelevantgoodsorservices.Whenjudgingwhetheracustomerhasobtainedcontrolofgoodsorservices,theCompanywillconsiderthefollowingsigns:
①TheCompanyhasthecurrentrighttoreceivepaymentforthegoodsorservices,thatis,thecustomerhasthecurrentpaymentobligationforthegoodsorservices.
②TheCompanyhastransferredthelegalownershipofthegoodstothecustomer,thatis,thecustomerhasthelegalownershipofthegoods.
③TheCompanyhastransferredthephysicalgoodstothecustomer,thatis,thecustomerhasphysicallytakenpossessionofthegoods.
④TheCompanyhastransferredthemainrisksandrewardsontheownershipofthegoodstothecustomer,thatis,thecustomerhasobtainedthemainrisksandrewardsontheownershipofthegoods.
⑤Thecustomerhasacceptedthegoods.
⑥Othersignsthatthecustomerhasobtainedcontrolofthegoods.
TheCompanyhastransferredgoodsorservicestocustomersandhastherighttoreceiveconsideration(andtherightdependsonotherfactorsexceptthepassageoftime)ascontractassets,andthecontractassetsaredepreciatedonthebasisofexpectedcreditlosses.TherightoftheCompanytocollectconsiderationfromcustomersunconditionally(onlydependingonthepassageoftime)islistedasreceivables.TheobligationoftheCompanytotransfergoodsorservicestocustomersforreceivedorreceivableconsiderationfromcustomersshallberegardedasacontractualliability.
Contractassetsandcontractliabilitiesunderthesamecontractarelistedinnetamount.Ifthenetamountisdebitbalance,theyarelistedin"ContractAssets"or"OtherNon-currentAssets"accordingtotheirliquidity;Ifthenetamountisthecreditbalance,itshallbelistedin"ContractLiabilities"or"OtherNon-currentLiabilities"accordingtoitsliquidity.
(2)SpecificmethodThespecificmethodofrevenuerecognitionoftheCompanyisasfollows:
Polarizer/Textileandgarmentsalescontract:
Domesticsales:Whenthegoodsaredeliveredtothecustomerandthecustomerhasacceptedthegoods,thecustomerobtainsthecontrolofthegoods,andtheCompanyrecognizestherevenue.
Export:A.WhenthecustomerreceivesgoodsinChina,therevenuerecognitionisthesameas"RevenueRecognitionforDomesticSales";B.Whenthedeliveryplaceofcustomerisoutsidethecountry,theCompanymainlyadoptsFOB.Whenthegoodsaredeliveredfromthewarehouseandhavebeenexportedforcustomsdeclaration,theCompanyrecognizestherevenue.
Revenuefromproperty/accommodationservices:
Intheprocessofproperty/accommodationserviceprovision,theCompanyrecognizesrevenuebystages.TheadoptionofdifferentbusinessmodelsinsimilarbusinessesleadstodifferencesinaccountingpoliciesforincomerecognitionNone
40.Governmentsubsidy
Governmentsubsidiesarerecognizedwhentheymeettheconditionsattachedtogovernmentsubsidiesandcanbereceived.
Governmentsubsidiesformonetaryassetsshallbemeasuredaccordingtotheamountreceivedorreceivable.Governmentsubsidiesfornon-monetaryassetsaremeasuredatfairvalue;Ifthefairvaluecannotbeobtainedreliably,itshallbemeasuredaccordingtothenominalamountRMB1.
GovernmentsubsidiesrelatedtoassetsrefertogovernmentsubsidiesobtainedbytheCompanyforpurchasingandbuildingorforminglong-termassetsinotherways;Inaddition,asagovernmentsubsidyrelatedtoincome.
Wherethegovernmentdocumentsdonotspecifytheobjectofthesubsidy,andthesubsidycanformlong-termassets,thepartofthegovernmentsubsidiescorrespondingtothevalueoftheassetsshallberegardedasthegovernmentsubsidyrelatedtotheassets,andtherestshallberegardedasthegovernmentsubsidiesrelated
totheincome;whereitisdifficulttobedistinguished,governmentsubsidiesasawholearetreatedasincome-relatedgovernmentsubsidies.
Governmentsubsidiesrelatedtoassetsoffsetthebookvalueofrelatedassets,orarerecognizedasdeferredincomeandincludedinprofitsandlossesbystagesaccordingtoareasonableandsystematicmethodwithintheservicelifeofrelatedassets.Governmentsubsidiesrelatedtoincome,whichareusedtocompensaterelatedcostsorlossesthathaveoccurred,areincludedincurrentprofitsandlossesoroffsetrelatedcosts;Ifusedtocompensaterelatedcostsorlossesinlaterperiods,theywillbeincludedinthedeferredincome,andincludedinthecurrentprofitsandlossesoroffsetrelatedcostsduringtherecognitionperiodofrelatedcostsorlosses.Governmentsubsidiesmeasuredinnominalamountaredirectlyincludedincurrentprofitsandlosses.TheCompanyadoptsaconsistentapproachtothesameorsimilargovernmentsubsidybusiness.Governmentsubsidiesrelatedtodailyactivitiesareincludedinotherincomeoroffsetrelatedcostsaccordingtothenatureofeconomicbusiness.Governmentsubsidiesirrelevanttoroutineactivitiesshallbeincludedintothenon-operatingreceiptanddisbursement.Whentherecognizedgovernmentsubsidyneedstobereturned,ifthebookvalueofrelatedassetsisoffsetduringinitialrecognition,thebookvalueofassetswillbeadjusted;Ifthereisarelevantdeferredincomebalance,thebookbalanceoftherelevantdeferredincomewillbeoffset,andtheexcesswillbeincludedinthecurrentprofitsandlosses;Inothercases,itisdirectlyincludedinthecurrentprofitsandlosses.Forthediscountinterestofpreferentialpolicyloans,ifthefinanceallocatesthediscountinterestfundstothelendingbank,theactuallyreceivedloanamountistakenastherecordedvalueoftheloan,andtheborrowingcostsarecalculatedaccordingtotheloanprincipalandpreferentialpolicyinterestrate.IfthefinancedirectlyallocatesthediscountinterestfundstotheCompany,thediscountinterestwilloffsettheborrowingcosts.
41.TheDeferredTaxAssets/ThedeferredTaxLiabilities
Incometaxincludescurrentincometaxanddeferredincometax.Exceptforadjustedgoodwillarisingfrombusinesscombinationordeferredincometaxrelatedtotransactionsormattersdirectlyincludedinowner'sequity,theyareallincludedincurrentprofitsandlossesasincometaxexpenses.
Accordingtothetemporarydifferencebetweenthebookvalueofassetsandliabilitiesandthetaxbasisonthebalancesheetdate,theCompanyadoptsthebalancesheetliabilitymethodtoconfirmdeferredincometax.
Alltaxabletemporarydifferencesarerecognizedasrelateddeferredincometaxliabilities,unlessthetaxabletemporarydifferencesaregeneratedinthefollowingtransactions:
(1)Initialrecognitionofgoodwill,ortheinitialrecognitionofassetsorliabilitiesarisingfromtransactionswiththefollowingcharacteristics:thetransactionisnotabusinesscombination,andthetransactiondoesnotaffectaccountingprofitsortaxableincomewhenitoccurs;
(2)Fortaxabletemporarydifferencesrelatedtoinvestmentsofsubsidiaries,jointventuresandassociatedenterprises,thetimeforthetemporarydifferencestobereversedcanbecontrolledandthetemporarydifferenceswillprobablynotbereversedintheforeseeablefuture.
Fordeductibletemporarydifferences,deductiblelossesandtaxdeductionsthatcanbecarriedforwardtolateryears,theCompanyshallrecognizethedeferredincometaxassetsarisingtherefromtotheextentthatitislikelytoobtainthefuturetaxableincomeusedtooffsetthedeductibletemporarydifferences,deductiblelossesandtaxdeductions,unlessthedeductibletemporarydifferencesaregeneratedinthefollowingtransactions:
(1)Thetransactionisnotabusinesscombination,anditdoesnotaffectaccountingprofitortaxableincomewhenthetransactionoccurs;
(2)Fordeductibletemporarydifferencesrelatedtoinvestmentsofsubsidiaries,jointventuresand
associatedenterprises,correspondingdeferredincometaxassetsarerecognizedifthefollowingconditionsaremetatthesametime:temporarydifferencesarelikelytobereversedintheforeseeablefuture,andtaxableincomeusedtooffsetthedeductibletemporarydifferencesislikelytobeobtainedinthefuture.Onthebalancesheetdate,theCompanymeasuresdeferredincometaxassetsanddeferredincometaxliabilitiesaccordingtotheapplicabletaxrateduringtheexpectedperiodofrecoveringtheassetsorpayingofftheliabilities,andreflectstheincometaximpactoftheexpectedwayofrecoveringtheassetsorpayingofftheliabilitiesonthebalancesheetdate.Onthebalancesheetdate,theCompanyrechecksthebookvalueofdeferredincometaxassets.Ifitisunlikelythatsufficienttaxableincomewillbeobtainedinthefutureperiodtooffsetthebenefitsofdeferredincometaxassets,thebookvalueofdeferredincometaxassetswillbewrittendown.Whensufficienttaxableincomeislikelytobeobtained,thewritten-downamountshallbereversed.
42.Lease
(1)Accountingofoperationalleasing
(1)IdentificationofleaseOnthecontractstartdate,thelessor-theCompanyevaluateswhetherthecustomerinthecontractisentitledtoalmostalltheeconomicbenefitsarisingfromtheuseoftheidentifiedassetduringtheperiodofuse,andhastherighttodirecttheuseoftheidentifiedassetduringtheperiodofuse.Whereapartyinthecontracttransferstherighttocontroltheuseofoneormoreidentifiedassetswithinacertainperiodinexchangeforconsideration,theCompanydeterminesthatthecontractisaleaseorcontainsalease.
(2)TheCompanyasthelesseeOnthecommencementdateoftheleaseterm,theCompanyrecognizesright-of-useassetsandleaseliabilitiesforallleases,exceptforsimplifiedshort-termleasesandleasesoflow-valueassets.
Fortheaccountingpoliciesofright-of-useassets,pleaserefertothissectionV.Significantaccountingpoliciesandaccountingestimates29.Right-of-useassets.Theleaseliabilityisinitiallymeasuredatthepresentvalueoftheunpaidleasepaymentsontheleasecommencementdateoftheleaseperiodcalculatedbytheinterestrateimplicitinthelease.Iftheinterestrateimplicitintheleasecannotbedetermined,theincrementalborrowingrateisusedasthediscountrate.Leasepaymentsinclude:fixedpaymentsandin-substancefixedpayments,deductingtherelevantamountoftheleaseincentiveifthereisaleaseincentive;variableleasepaymentsthatdependonanindexorratio;theexercisepriceofapurchaseoption,providedthatthelesseeisreasonablydeterminethattheoptionwillbeexercised;theamountpayabletoexercisetheoptiontoterminatetheleaseprovidedthatintheleasetermitreflectsthatthelesseewillexercisetheoptiontoterminatethelease;andtheamountexpectedtobepaidbasedonguaranteedresidualvalueprovidedbythelessee.Subsequently,theinterestexpenseoftheleaseliabilityineachperiodoftheleasetermiscalculatedatafixedperiodicinterestrateandincludedinthecurrentprofitandloss.Variableleasepaymentsthatarenotincludedinthemeasurementofleaseliabilitiesareincludedinthecurrentprofitandlosswhentheyareactuallyincurred
Short-termleases
Short-termleasesareleaseswithaleasetermnotexceeding12monthsfromthecommencementdateoftheleaseterm,exceptleasesthatincludeapurchaseoption.
Thelessorwillincludetheleasepaymentsforshort-termleasesinthecostofrelevantassetsorcurrentprofitsandlossesonastraight-linebasisduringeachperiodoftheleaseterm.
Leaseoflowvalueasset
Low-valueassetleasesrefertoleaseswithavalueoflessthan40,000yuanwhenasingleleasedassetisabrand-newasset.Fortheleaseoflow-valueassets,theCompanychoosestoadopttheabovesimplifiedtreatmentmethodaccordingtothespecificcircumstancesofeachlease.TheleasepaymentsforthevalueassetleaseoftheCompanyshallbeincludedinthecostoftherelevantassetsorthecurrentprofitandlossonastraight-linebasisineachperiodoftheleaseterm.Fortheleaseoflow-valueassets,theCompanychoosestoadopttheabovesimplifiedtreatmentmethodaccordingtothespecificcircumstancesofeachlease.LeasechangeWheretheleasechangesandthefollowingconditionsaremetatthesametime,theCompanywillmakeaccounttreatmentfortheleasechangeasaseparatelease:①Theleasechangeexpandsthescopeoftheleasebyaddingtherighttouseoneormoreleasedassets;②Theincreasedconsiderationisequivalenttotheamountadjustedbytheindividualpriceoftheexpandedpartoftheleasescopeaccordingtothecontractsituationafterchange.
Wheretheleasechangeisnotaccountedforasaseparatelease,ontheeffectivedateoftheleasechange,theCompanyre-allocatestheconsiderationofthecontractafterthechange,re-determinestheleaseterm,andre-measurestheleaseliabilityaccordingtotheleasepaymentafterthechangeandthepresentvaluecalculatedbythereviseddiscountrate.
Wheretheleasechangeleadstothenarrowingoftheleasescopeortheshorteningoftheleaseterm,theCompanywillreducethebookvalueoftheright-of-useassetaccordingly,andincludetherelevantgainsorlossesonpartialorcompleteterminationoftheleaseintothecurrentprofitandloss.
Ifotherleasechangesresultinre-measurementofleaseliabilities,theCompanyadjuststhebookvalueoftheright-of-useassetaccordingly.
(3)TheCompanyasthelessor
WhentheCompanyactsasalessor,aleasethatsubstantiallytransfersallrisksandrewardsrelatedtoassetownershipisrecognizedasafinanciallease,andotherleasesotherthanfinancialleasesarerecognizedasoperatingleases.
Financiallease
Inthefinanciallease,atthebeginningoftheleaseterm,theCompanytakesthenetinvestmentintheleaseastheentryvalueofthefinanceleasereceivables,andthenetinvestmentintheleaseisthesumoftheunguaranteedresidualvalueandthepresentvalueoftheleasereceiptsthathavenotbeenreceivedonthestartdateoftheleasetermaftercalculatedaccordingtothediscountedinterestrateimplicitinthelease.TheCompany,asthelessor,calculatesandrecognizestheinterestincomeineachperiodoftheleaseperiodaccordingtothefixedperiodicinterestrate.ThevariableleasepaymentsobtainedbytheCompanyasalessorthatarenotincludedinthenetleaseinvestmentmeasurementareincludedinthecurrentprofitandlosswhenactuallyincurred.
ThederecognitionandimpairmentoffinancialleasereceivablesshallbeaccountedforinaccordancewiththeprovisionsofNo.22AccountingStandardsforBusinessEnterprises-RecognitionandMeasurementofFinancialInstrumentsandNo.23AccountingStandardsforBusinessEnterprises-TransferofFinancialAssets.
Forrentsunderoperatingleases,theCompanyrecognizesthecurrentprofitsandlossesonastraight-linebasisineachperiodoftheleaseterm.Theinitialdirectexpensesincurredinrelationtooperatingleasesshallbecapitalizedandamortizedonthesamebasisasrentalincomerecognitionduringtheleaseterm,andthenincludedinthecurrentprofitandlossininstallments.Thevariableleasepaymentsobtainedinrelationto
operatingleasesbutnotincludedintheleasereceiptsareincludedinthecurrentprofitandlosswhenactuallyincurred.Wheretheoperatingleaseischanged,theCompanywilltreatitasanewleasefromtheeffectivedateofthechange,andtheadvancereceiptsorleasereceivablesrelatedtotheleasebeforethechangeareregardedasthereceiptsofthenewlease.
2.AccountingTreatmentMethodofFinanceLease
(1)IdentificationofleaseOnthecontractstartdate,thelessor-theCompanyevaluateswhetherthecustomerinthecontractisentitledtoalmostalltheeconomicbenefitsarisingfromtheuseoftheidentifiedassetduringtheperiodofuse,andhastherighttodirecttheuseoftheidentifiedassetduringtheperiodofuse.Whereapartyinthecontracttransferstherighttocontroltheuseofoneormoreidentifiedassetswithinacertainperiodinexchangeforconsideration,theCompanydeterminesthatthecontractisaleaseorcontainsalease.
(2)TheCompanyasthelesseeOnthecommencementdateoftheleaseterm,theCompanyrecognizesright-of-useassetsandleaseliabilitiesforallleases,exceptforsimplifiedshort-termleasesandleasesoflow-valueassets.Fortheaccountingpoliciesofright-of-useassets,pleaserefertothissectionV.Significantaccountingpoliciesandaccountingestimates29.Right-of-useassets.Theleaseliabilityisinitiallymeasuredatthepresentvalueoftheunpaidleasepaymentsontheleasecommencementdateoftheleaseperiodcalculatedbytheinterestrateimplicitinthelease.Iftheinterestrateimplicitintheleasecannotbedetermined,theincrementalborrowingrateisusedasthediscountrate.Leasepaymentsinclude:fixedpaymentsandin-substancefixedpayments,deductingtherelevantamountoftheleaseincentiveifthereisaleaseincentive;variableleasepaymentsthatdependonanindexorratio;theexercisepriceofapurchaseoption,providedthatthelesseeisreasonablydeterminethattheoptionwillbeexercised;theamountpayabletoexercisetheoptiontoterminatetheleaseprovidedthatintheleasetermitreflectsthatthelesseewillexercisetheoptiontoterminatethelease;andtheamountexpectedtobepaidbasedonguaranteedresidualvalueprovidedbythelessee.Subsequently,theinterestexpenseoftheleaseliabilityineachperiodoftheleasetermiscalculatedatafixedperiodicinterestrateandincludedinthecurrentprofitandloss.Variableleasepaymentsthatarenotincludedinthemeasurementofleaseliabilitiesareincludedinthecurrentprofitandlosswhentheyareactuallyincurred
Short-termleasesShort-termleasesareleaseswithaleasetermnotexceeding12monthsfromthecommencementdateoftheleaseterm,exceptleasesthatincludeapurchaseoption.Thelessorwillincludetheleasepaymentsforshort-termleasesinthecostofrelevantassetsorcurrentprofitsandlossesonastraight-linebasisduringeachperiodoftheleaseterm.LeaseoflowvalueassetLow-valueassetleasesrefertoleaseswithavalueoflessthan40,000yuanwhenasingleleasedassetisabrand-newasset.
Fortheleaseoflow-valueasset,theCompanychoosestoadopttheabovesimplifiedtreatmentmethodaccordingtothespecificcircumstancesofeachlease.TheleasepaymentsforthevalueassetleaseoftheCompanyshallbeincludedinthecostoftherelevantassetsorthecurrentprofitandlossonastraight-linebasisineachperiodoftheleaseterm.Fortheleaseoflow-valueassets,theCompanychoosestoadopttheabovesimplifiedtreatmentmethodaccordingtothespecificcircumstancesofeachlease.
LeasechangeWheretheleasechangesandthefollowingconditionsaremetatthesametime,theCompanywillmakeaccounttreatmentfortheleasechangeasaseparatelease:①Theleasechangeexpandsthescopeoftheleasebyaddingtherighttouseoneormoreleasedassets;②Theincreasedconsiderationisequivalenttotheamountadjustedbytheindividualpriceoftheexpandedpartoftheleasescopeaccordingtothecontractsituationafterchange.
Wheretheleasechangeisnotaccountedforasaseparatelease,ontheeffectivedateoftheleasechange,theCompanyre-allocatestheconsiderationofthecontractafterthechange,re-determinestheleaseterm,andre-measurestheleaseliabilityaccordingtotheleasepaymentafterthechangeandthepresentvaluecalculatedbythereviseddiscountrate.
Wheretheleasechangeleadstothenarrowingoftheleasescopeortheshorteningoftheleaseterm,theCompanywillreducethebookvalueoftheright-of-useassetaccordingly,andincludetherelevantgainsorlossesonpartialorcompleteterminationoftheleaseintothecurrentprofitandloss.
Ifotherleasechangesresultinre-measurementofleaseliabilities,theCompanyadjuststhebookvalueoftheright-of-useassetaccordingly.
(3)TheCompanyasthelessor
WhentheCompanyactsasalessor,aleasethatsubstantiallytransfersallrisksandrewardsrelatedtoassetownershipisrecognizedasafinanciallease,andotherleasesotherthanfinancialleasesarerecognizedasoperatingleases.
Inthefinanciallease,atthebeginningoftheleaseterm,theCompanytakesthenetinvestmentintheleaseastheentryvalueofthefinanceleasereceivables,andthenetinvestmentintheleaseisthesumoftheunguaranteedresidualvalueandthepresentvalueoftheleasereceiptsthathavenotbeenreceivedonthestartdateoftheleasetermaftercalculatedaccordingtothediscountedinterestrateimplicitinthelease.TheCompany,asthelessor,calculatesandrecognizestheinterestincomeineachperiodoftheleaseperiodaccordingtothefixedperiodicinterestrate.ThevariableleasepaymentsobtainedbytheCompanyasalessorthatarenotincludedinthenetleaseinvestmentmeasurementareincludedinthecurrentprofitandlosswhenactuallyincurred.
ThederecognitionandimpairmentoffinancialleasereceivablesshallbeaccountedforinaccordancewiththeprovisionsofNo.22AccountingStandardsforBusinessEnterprises-RecognitionandMeasurementofFinancialInstrumentsandNo.23AccountingStandardsforBusinessEnterprises-TransferofFinancialAssets.
Wherethefinancialleaseischangedandthefollowingconditionsaremetatthesametime,theCompanywillmakeaccounttreatmentfortheleasechangeasaseparatelease:①Theleasechangeexpandsthescopeoftheleasebyaddingtherighttouseoneormoreleasedassets;②Theincreasedconsiderationisequivalenttotheamountadjustedbytheindividualpriceoftheexpandedpartoftheleasescopeaccordingtothecontractsituationafterchange..
Wherethechangeofthefinancialleaseisnotaccountedforasaseparatelease,theCompanyshalltreatthechangedleaseaccordingtothefollowingcircumstances:①wheretheleaseisclassifiedasanoperatingleasewhenthechangetakeseffectontheleasestartdate,theCompanyshallaccountfortheleasechangeasanewleasefromtheeffectivedate,andthenetinvestmentintheleasebeforetheeffectivedateoftheleasechangeisusedasthebookvalueoftheleaseasset;②wheretheleaseisclassifiedasafinancialleasewhenthechange
takeseffectontheleasestartdate,theCompanyshallconductaccountingtreatmentinaccordancewiththeregulationofrevisingorrenegotiatingcontractsby"No.22AccountingStandardsforBusinessEnterprises-RecognitionandMeasurementofFinancialInstruments".
43.Otherimportantaccountingpoliciesandaccountingestimates
(1)Changeofmainaccountingpolicies
Accountingpolicychangescausedbyimplementationofnewfinancialinstrumentstandards(
)Changesinaccountingestimates
Nosignificantchangesinaccountingestimateshaveoccurredinthecurrentperiod.
44.Changeofmainaccountingpoliciesandestimations
(1)Changeofmainaccountingpolicies
□Applicable√Notapplicable
(2)Changeofmainaccountingestimations
√Applicable□Notapplicable
ThecontentandreasonforchangeofaccountingEstimations | Approvalprocess | Startapplicable | Remarks |
DuetothefrequentuseoftheCompany'selectronicandotherequipmentandrapidupdateinactualuse,resultingintheiractualservicelifelowerthanthecurrentdepreciationperiod,thedepreciationperiodofelectronicandotherequipmentischangedtomakethedepreciationperiodofassetsclosertotheservicelifeofassets,inordertomeettheneedsoftheCompany'sbusinessdevelopmentandfixedassetmanagement. | ResolutionoftheninthmeetingoftheeighthBoardofDirector | January1,2022 | Fordetails,pleaserefertotheAnnouncementonChangesofAccountingEstimatesofDepreciationPeriodofSomeFixedAssets(No.2021-63)disclosedbytheCompanyonCNINFonJanuary1,2022. |
45.Other
None
VI.Taxation
1.Maincategoriesandratesoftaxes
Taxes | Taxreferences | Applicabletaxrates |
VAT | Thetaxableturnover | 13%,6%,5% |
Cityconstructiontax | Turnovertaxtobepaidallowances | 7% |
Businessincometax | Turnovertaxtobepaidallowances | 25%,20%,16.5%,15% |
Educationsurcharge | Turnovertaxtobepaidallowances | 3% |
Localeducationsurcharge | Turnovertaxtobepaidallowances | 2% |
Incasethereexistanytaxpayerpayingcorporateincometaxatdifferenttaxrates,disclosetheinformation
Nameoftaxpayer | Incometaxrates |
ShenzhenTextile(Holdings)Co.,Ltd | 25% |
SAPOPhotoelectricCo.,Ltd. | 15% |
ShenzhenLisiIndustrialCo.,Ltd. | 20% |
ShenfangPropertyManagementCo.,Ltd. | 20% |
ShenzhenHuaqiangHotel | 20% |
ShenzhenBeautyCenturyGarmentCo.,Ltd. | 20% |
ShenzhenShenfangSungangPropertyManagementCo.,Ltd. | 20% |
Shengtou(HK)Co.,Ltd. | 16.5% |
ShenzhenShengjinlianTechnologyCo.,Ltd. | 25% |
2.Taxpreference
.InaccordancewithrelevantprovisionsoftheNoticeofMinistryofFinance,GeneralAdministrationofCustomsandStateTaxationAdministrationRegardingTaxPreferencePoliciesforFurtherSupportingtheDevelopmentofNew-typeDisplayDeviceIndustry(CaiGuanShui(2021)No.19),TheCompanymanufacturedkeymaterialsandpartsfortheupstreamindustryofnew-typedisplaydevicesincludingcolorfullightfiltercoatingandpolarizersheetthatcomplywiththeplanningforindependentdevelopmentofdomesticindustriesmayenjoythepreferentialpoliciesofexemptionfromimporttarifffortheimportofrawmaterialsandconsumablesforthepurposeofselfuseandproductionthatcannotbeproduceddomesticallyfromJanuary1,2021andDecember31,2030.TheabovepreferentialtaxpoliciesapplytothesubsidiariesoftheCompany,SAPOPhotoelectricCo.,Ltd.AccordingtotherelevantregulationsoftheAdministrativeMeasuresfortheAccreditationofHigh-techEnterprises(GKFHNo.32[2016])andtheGuidelinesforAccreditationAdministrationofHigh-techEnterprises(GKFHNo.195[2016]),thequalificationofanaccreditedhigh-techenterpriseisvalidfor3yearsfromtheissuingdateofthecertificate.Afterobtainingthequalificationofhigh-techenterprise,theenterpriseisentitledtothepreferentialenterpriseincometaxatarateof15%fromtheyearwhenthecertificateofhigh-techenterpriseisissued.ShenzhenSAPOPhotoelectricTechnologyCo.,Ltd.,asubsidiaryoftheCompany,wasrecognizedasanationalhigh-techenterprisein2019,withacertificatenumberGR201944205666,validfor3years,andpaidenterpriseincometaxatarateof15%.
AccordingtotheAnnouncementoftheMinistryofFinanceandtheStateTaxationAdministrationonImplementingthePreferentialIncomeTaxPoliciesforSmallandMicroEnterprisesandIndividualIndustrialandCommercialHouseholds(AnnouncementNo.12oftheMinistryofFinanceandtheStateAdministrationofTaxationin2021)andtheAnnouncementofStateTaxationAdministrationonImplementingtheRelevantMattersofIncomeTaxPreferentialPoliciesinSupportofDevelopmentofSmallandMicroProfitEnterprisesandIndividualIndustrialandCommercialHouseholds(AnnouncementNo.8ofStateTaxationAdministrationin2021),fromJanuary1,2021toDecember31,2022,forthesmalllow-profitenterprises,iftheannualtaxableincomedoesnotexceedRMB1million,thetaxableincomeshallbecalculatedatarateof12.5%,andtheenterpriseincometaxispaidatarateof20%;iftheannualtaxableincomeexceedsRMB1millionbutlessthanRMB3million,thetaxableincomeshallbecalculatedatarateof50%,andtheenterpriseincometaxwillbepaidatarateof20%".TheabovepreferentialtaxpoliciesapplytothesubsidiariesoftheCompany,ShenzhenBeautyCenturyGarmentCo.,Ltd.,ShenzhenHuaqiangHotelCo.,Ltd.,ShenzhenLisiIndustrialDevelopmentCo.,Ltd.,ShenzhenShenfangSungangPropertyManagementCo.,Ltd.andShenzhenShenfangPropertyManagementCo.,Ltd.
3.Other
None
VII.Notesofconsolidatedfinancialstatement
1.MonetaryCapital
InRMB
Items | Year-endbalance | Year-beginningbalance |
Cashathand | 6,238.09 | 792.64 |
Bankdeposit | 348,654,742.86 | 302,472,035.96 |
Othermonetaryfunds | 7,940,013.85 | 0.00 |
Total | 356,600,994.80 | 302,472,828.60 |
Including:Thetotalamountofdepositabroad | 6,315,269.67 | 6,009,898.07 |
Totalamountofmoneylimitedtouse,suchasmortgage,pledgeorfreeze | 7,940,013.85 | 0.00 |
OthernoteThetotalamountofrestrictedfundsattheendoftheperiodis7940013.85yuan,whichisthesecuritydepositofthesubsidiary.
2.Transactionalfinancialassets
InRMB
Items | Year-endbalance | Year-beginningbalance |
financialassetsmeasuredattheirfairvaluesandwiththevariationincludedinthecurrentprofitsandlosses | 609,244,744.72 | 586,540,735.16 |
Including: | ||
Structuredeposit | 350,156,027.40 | 0.00 |
Monetaryfund | 178,828,114.58 | 586,540,735.16 |
Bankwealthmanagementproduct | 80,260,602.74 | 0.00 |
Including: | ||
Total | 609,244,744.72 | 586,540,735.16 |
OthernoteNote
3.DerivativefinancialassetsNone
4.Notesreceivable
(1)Notesreceivablelistedbycategory
InRMB
Items | Year-endbalance | Year-beginningbalance |
.BankacceptanceBill | 22,329,172.88 | 76,931,731.52 |
Commercialacceptance | 14,791,860.30 | 73,011,148.76 |
Total | 37,121,033.18 | 149,942,880.28 |
InRMB
Category | Amountinyear-end | BalanceYear-beginning | ||||||||
BookBalance | Baddebtprovision | Bookvalue | BookBalance | Baddebtprovision | Bookvalue | |||||
Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
Ofwhich: | ||||||||||
Accrualofbaddebtprovisionbyportfolio | 37,194,992.48 | 100.00% | 73,959.30 | 0.20% | 37,121,033.18 | 150,307,936.02 | 100.00% | 365,055.74 | 0.24% | 149,942,880.28 |
Including: | ||||||||||
Commercialacceptance | 14,791,860.30 | 39.77% | 73,959.30 | 0.50% | 14,717,901.00 | 73,011,148.76 | 48.57% | 365,055.74 | 0.50% | 72,646,093.02 |
.BankacceptanceBill | 22,403,132.18 | 60.23% | 22,403,132.18 | 77,296,787.26 | 51.43% | 0.00 | 0.00% | 77,296,787.26 | ||
Total | 37,194,992.48 | 100.00% | 73,959.30 | 0.20% | 37,121,033.18 | 150,307,936.02 | 100.00% | 365,055.74 | 0.24% | 149,942,880.28 |
Accrualofbaddebtprovisionbyportfolio:
InRMB
Name | Amountinyear-end | ||
Bookbalance | Baddebtprovision | Proportion(%) | |
Commercialacceptance | 14,791,860.30 | 73,959.30 | 0.50% |
Total | 14,791,860.30 | 73,959.30 |
Descriptionofdeterminingthecombinationbasis:itisdividedintobankacceptancebillsandcommercialacceptancebillsaccordingtothesubjectofbillacceptance.Relevantinformationoftheprovisionforbaddebtswillbedisclosedwithreferencetothedisclosuremethodofotherreceivablesiftheprovisionforbaddebtsofbillsreceivableisaccruedaccordingtothegeneralmodelofexpectedcreditloss:
□Applicable√Notapplicable
(2)Accountsreceivablewithdraw,reversedorcollectedduringthereportingperiodThewithdrawalamountofthebaddebtprovision:
InRMB
Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance | |||
Accrual | Reversedorcollectedamount | Write-off | Other | |||
Commercialacceptance | 365,055.74 | 291,096.44 | 73,959.30 | |||
Total | 365,055.74 | 291,096.44 | 73,959.30 |
Ofwhichthesignificantamountofthereversedorcollectedpartduringthereportingperiod
□Applicable√Notapplicable
(3)Thecurrentaccountsreceivablewrite-offssituation
□Applicable√Notapplicable
(4)AccountsreceivablefinancingendorsedordiscountedbytheCompanyattheendoftheperiodandnotexpiredyetonthedateofbalancesheet
InRMB
Items | Amountderecognizedattheendoftheperiod | Amountnotyetderecognizedattheendoftheperiod |
Bankacceptancebill | 15,495,198.50 | 51,434,865.61 |
Total | 15,495,198.50 | 51,434,865.61 |
(5)NotestransferredtoaccountsreceivablebecausedrawerofthenotesfailstoexecutedthecontractoragreementNone
(6)Theactualwrite-offaccountsreceivableNoneNoteofthewrite-offtheaccountsreceivable:
None
5.Accountreceivable
(1)Classificationaccountreceivables.
InRMB
Category | Amountinyear-end | Amountinyear-begin | ||||||||
Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
Accrualofbaddebtprovisionbysingleitem | 13,364,381.94 | 1.78% | 13,364,381.94 | 100.00% | 0.00 | 13,260,307.34 | 2.57% | 13,260,307.34 | 100.00% | 0.00 |
Including: | ||||||||||
Accrualofbaddebtprovisionbyportfolio | 736,823,980.57 | 98.22% | 32,973,997.24 | 4.48% | 703,849,983.33 | 502,848,549.97 | 97.43% | 22,849,841.40 | 4.54% | 479,998,708.57 |
Including: | ||||||||||
Total | 750,188,362.51 | 100.00% | 46,338,379.18 | 6.18% | 703,849,983.33 | 516,108,857.31 | 100.00% | 36,110,148.74 | 7.00% | 479,998,708.57 |
Accrualofbaddebtprovisionbysingleitem:13,364,381.94
InRMB
Name | Closingbalance | |||
Bookbalance | Baddebtprovision | Proportion | Reason | |
DongguanYaxingSemiconductorCo.,Ltd. | 2,797,016.81 | 2,797,016.81 | 100.00% | Beyondthecreditperiodforalongtime,uncertainrecovered. |
DongguanFairLCDCo.,Ltd. | 1,695,543.72 | 1,695,543.72 | 100.00% | Beyondthecreditperiodforalongtime,uncertainrecovered. |
GuangdongRuiliBaolaiTechnologyCo.,Ltd. | 1,298,965.36 | 1,298,965.36 | 100.00% | Beyondthecreditperiodforalongtime,uncertainrecovered. |
HuangshanZhongxianweiElectricCo.,Ltd. | 902,031.00 | 902,031.00 | 100.00% | Beyondthecreditperiodforalongtime,uncertainrecovered. |
ShenzhenGulidaMicroelectronicsCo.,Ltd. | 522,737.52 | 522,737.52 | 100.00% | Beyondthecreditperiodforalongtime,uncertainrecovered. |
DongguanJiaxianElectricCo.,Ltd. | 486,510.50 | 486,510.50 | 100.00% | Beyondthecreditperiodforalongtime,uncertainrecovered. |
ShenzhenGulidaMicroelectronicsCo.,Ltd. | 457,982.42 | 457,982.42 | 100.00% | Beyondthecreditperiodforalongtime,uncertainrecovered. |
JilinLianxinOpticsTechnologyCo.,Ltd. | 443,768.72 | 443,768.72 | 100.00% | Beyondthecreditperiodforalongtime,uncertainrecovered. |
Other | 4,759,825.89 | 4,759,825.89 | 100.00% | Beyondthecreditperiodforalongtime,uncertainrecovered. |
Total | 13,364,381.94 | 13,364,381.94 |
Accrualofbaddebtprovisionbyportfolio:
InRMB
Name | Closingbalance | ||
Bookbalance | Baddebtprovision | Proportion | |
Within1year | 736,823,978.43 | 32,973,997.14 | 4.48% |
1-2years | 2.14 | 0.10 | 4.67% |
Total | 736,823,980.57 | 32,973,997.24 |
Note:
Relevantinformationoftheprovisionforbaddebtswillbedisclosedwithreferencetothedisclosuremethodofotherreceivablesiftheprovisionforbaddebtsofbillsreceivableisaccruedaccordingtothegeneralmodelofexpectedcreditloss:
□Applicable√NotapplicableDisclosurebyaging
InRMB
Aging | Closingbalance |
Within1year(Including1year) | 736,823,978.43 |
1-2years | 2.14 |
2-3years | 688,258.26 |
Over3years | 12,676,123.68 |
3-4years | 0.00 |
4-5years | 0.00 |
Over5years | 12,676,123.68 |
Total | 750,188,362.51 |
(2)Accountsreceivablewithdraw,reversedorcollectedduringthereportingperiodThewithdrawalamountofthebaddebtprovision:withdrawingbaddebtbyagingcombination
InRMB
Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance | |||
Accrual | Reversedorcollectedamount | Write-off | Other | |||
Accrualofbaddebtprovisionbyportfolio: | 22,849,841.40 | 10,124,155.84 | 32,973,997.24 | |||
Accrualofbaddebtprovisionbysingleitem: | 13,260,307.34 | 104,074.60 | 13,364,381.94 | |||
Total | 36,110,148.74 | 10,228,230.44 | 0.00 | 0.00 | 0.00 | 46,338,379.18 |
Ofwhichthesignificantamountofthereversedorcollectedpartduringthereportingperiod:None
(3)Theactualwrite-offaccountsreceivableNone
(4)Top5oftheclosingbalanceoftheaccountsreceivablecollectedaccordingtothearrearsparty
InRMB
Name | Balanceinyear-end | Proportion(%) | Baddebtprovision |
First | 114,723,319.70 | 32.69% | 5,196,966.39 |
Second | 66,342,120.65 | 18.90% | 3,005,298.07 |
Third | 61,440,509.51 | 17.51% | 2,783,255.08 |
Fourth | 54,597,543.80 | 15.56% | 2,473,268.73 |
Fifth | 53,847,453.65 | 15.34% | 2,439,289.65 |
Total | 350,950,947.31 | 100.00% |
(5)AccountreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassetsNone
(6)TheamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementofaccountsreceivableNone
6.Receivablefinancing
InRMB
Items | Closingbalance | Openingbalance |
Notereceivable | 51,434,865.61 | 21,474,101.07 |
Total | 51,434,865.61 | 21,474,101.07 |
Changesincurrentperiodandfairvalueofreceivablesfinancing
□Applicable√NotapplicableRelevantinformationoftheprovisionforbaddebtswillbedisclosedwithreferencetothedisclosuremethodofotherreceivablesiftheprovisionforbaddebtsofbillsreceivableisaccruedaccordingtothegeneralmodelofexpectedcreditloss:
□Applicable√Notapplicable
Othernote
SomesubsidiariesoftheCompanydiscountandendorsesomebankacceptancebillsaccordingtotheneedsoftheirdailyfundmanagement,thereforethebankacceptancebillsofthesubsidiariesareclassifiedasfinancialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincome.ThereisnosinglebankacceptancebillwithimpairmentprovisionoftheCompany.OnJune30,2022,theCompanyconsideredthattherewasnosignificantcreditriskinthebankacceptancebillsheldbyit,andtherewouldbenosignificantlossduetobankdefault.
7.Prepayments
(1)Listbyaginganalysis:
InRMB
Aging | Closingbalance | Openingbalance | ||
Amount | Proportion% | Amount | Proportion% | |
Within1year | 70,367,096.83 | 100.00% | 15,157,623.27 | 98.38% |
1-2years | 248,996.26 | 1.62% | ||
Total | 70,367,096.83 | 15,406,619.53 |
Notesofthereasonsoftheprepaymentagesover1yearwithsignificantamountbutfailedsettledintimeOnJune30,2022,therewasnolargeprepaymentwithanaccountingageofmorethanoneyearinthebalanceofprepayment.
(2)TheendingbalanceofPrepaymentsowedbytheimputationofthetopfiveparties
ThetopfiveendingbalancesofprepaymentscollectedaccordingtoprepaidobjectstotaledRMB36,080,705.39,accountingfor51.27%ofthetotalclosingbalancesofprepaymentsOthernote:None
8.Otherreceivable
InRMB
Items | Closingbalance | Openingbalance |
Interestreceivable | 85,062.56 | |
Otheraccountsreceivable | 7,150,812.66 | 140,185,750.40 |
Total | 7,235,875.22 | 140,185,750.40 |
(1)Interestreceivable
1)Categoryofinterestreceivable
InRMB
Items | Closingbalance | Openingbalance |
Agreementdeposit | 85,062.56 | 0.00 |
Total | 85,062.56 |
2)SignificantoverdueinterestNone
3)Bad-debtprovision
□Applicable√Notapplicable
(2)Dividendreceivable
1)CategoryofDividendreceivableNone
2)SignificantoverduedividendNone3)Baddebtprovision
□Applicable√Notapplicable
(3)Otheraccountreceivable
1)Otheraccountsreceivableclassifiedbythenatureofaccounts
InRMB
Nature | Closingbookbalance | Openingbookbalance |
Deposit | 2,016,693.94 | 144,954,822.31 |
Unitaccount | 19,554,763.66 | 16,402,902.33 |
Exportrebate | 1,086,980.29 | 1,698,919.82 |
Reservefundandstaffloans | 912,140.57 | 293,128.97 |
Other | 1,626,865.99 | 1,834,489.23 |
Total | 25,197,444.45 | 165,184,262.66 |
2)Bad-debtprovision
InRMB
BadDebtReserves | Stage1 | Stage2 | Stage3 | Total |
Expectedcreditlossesoverthenext12months | Expectedcreditlossoverlife(nocreditimpairment) | Expectedcreditlossesfortheentireduration(creditimpairmentoccurred) | ||
BalanceasatJanuary1,2022 | 7,795,257.07 | 17,203,255.19 | 24,998,512.26 | |
BalanceasatJanuary1,2022incurrent | ||||
Provisioninthecurrentperiod | 1,725.66 | 1,725.66 | ||
Recoveredorreversedinthecurrentperiod | 6,953,606.13 | 6,953,606.13 | ||
BalanceasatJune30,2022 | 841,650.94 | 17,204,980.85 | 18,046,631.79 |
Lossprovisionchangesincurrentperiod,changeinbookbalancewithsignificantamount
□Applicable√NotapplicableDisclosurebyaging
InRMB
Aging | Closingbalance |
Within1year(Including1year) | 283,876.14 |
1-2years | 1,580,026.94 |
2-3years | 6,530,019.52 |
Over3years | 16,803,521.85 |
3-4years | 2,603,910.57 |
4-5years | 6,111,697.83 |
Over5years | 8,087,913.45 |
Total | 25,197,444.45 |
3)Accountsreceivablewithdraw,reversedorcollectedduringthereportingperiodThewithdrawalamountofthebaddebtprovision:
InRMB
Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance | |||
Accrual | Reversedorcollectedamount | Write-off | Other | |||
Accrualofbaddebtprovisionbysingleitem | 17,203,255.19 | 1,725.66 | 17,204,980.85 | |||
Accrualofbaddebtprovisionbyportfolio | 7,795,257.07 | 6,953,606.13 | 841,650.94 | |||
Total | 24,998,512.26 | 6,951,880.47 | 18,046,631.79 |
Wherethecurrentbaddebtsbackorrecoversignificantamounts:None
(4)Otheraccountreceivablesactuallycancelafterwrite-off
None
(5)Top5oftheclosingbalanceoftheotheraccountsreceivablecollectedaccordingtothearrearsparty
InRMB
Name | Nature | Year-endbalance | Age | Portionintotalotherreceivables(%) | Baddebtprovisionofyear-endbalance |
First | Unitaccount | 11,389,044.60 | Over5years | 45.56% | 11,389,044.60 |
Second | Unitaccount | 2,704,118.27 | Within1year(Including1year) | 10.82% | 135,205.91 |
Third | Unitaccount | 1,800,000.00 | Over5years | 7.20% | 1,800,000.00 |
Fourth | Unitaccount | 1,018,295.37 | 2-3years | 4.07% | 1,018,295.37 |
Fifth | Unitaccount | 980,461.06 | Over5years | 3.92% | 980,461.06 |
Total | 17,891,919.30 | 71.57% | 15,323,006.94 |
(6)AccountsreceivableinvolvedwithgovernmentsubsidiesNone
(7)OtheraccountreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassetsNone
(8)TheamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementofotheraccountsreceivableNone
9.InventoriesWhetherthecompanyneedtocomplywiththedisclosurerequirementsoftherealestateindustry
No
(1)CategoryofInventory
InRMB
Items | Closingbookbalance | Openingbookbalance | ||||
Bookbalance | Provisionforinventoryimpairment | Bookvalue | Bookbalance | Provisionforinventoryimpairment | Bookvalue | |
Rawmaterials | 409,450,402.32 | 26,217,791.21 | 383,232,611.11 | 349,978,870.87 | 26,335,509.94 | 323,643,360.93 |
Processingproducts | 14,679,510.26 | 0.00 | 14,679,510.26 | 10,992,072.59 | 0.00 | 10,992,072.59 |
Goodsintransit | 19,183,144.40 | 0.00 | 19,183,144.40 | 7,910,629.62 | 30,573.89 | 7,880,055.73 |
Finishedproduct | 106,099,803.84 | 34,543,448.90 | 71,556,354.94 | 118,034,342.61 | 36,750,396.02 | 81,283,946.59 |
Semi-finished | 342,800,480.80 | 52,630,818.01 | 290,169,662.79 | 270,743,032.26 | 34,298,745.28 | 236,444,286.98 |
Commissionedmaterials | 2,700,898.03 | 117,333.43 | 2,583,564.60 | 7,838,404.74 | 620,680.53 | 7,217,724.21 |
Total | 894,914,239.65 | 113,509,391.55 | 781,404,848.10 | 765,497,352.69 | 98,035,905.66 | 667,461,447.03 |
(2)Inventoryfallingpricereservesandreservesforimpairmentofcontractperformancecosts
InRMB
Items | Openingbalance | Increasedincurrentperiod | Decreasedincurrentperiod | Closingbalance | ||
Accrual | Reversedorcollectedamount | Write-off | Other | |||
Rawmaterials | 26,335,509.94 | 117,718.73 | 26,217,791.21 | |||
Processingproducts | 0.00 | 0.00 | ||||
Finishedproduct | 36,750,396.02 | 10,516,916.94 | 12,723,864.06 | 34,543,448.90 | ||
Semi-finished | 34,298,745.28 | 32,208,394.99 | 13,876,322.26 | 52,630,818.01 | ||
Goodsintransit | 30,573.89 | 30,573.89 | 0.00 | |||
Commissionedmaterials | 620,680.53 | 503,347.10 | 117,333.43 | |||
Total | 98,035,905.66 | 42,725,311.93 | 27,251,826.04 | 113,509,391.55 |
(3)DescriptionofTheclosingbalanceofinventoriescontaintheamountofborrowingcostscapitalizedNone
(4)DescriptionofamortizationamountofcontractperformancecostinthecurrentperiodNone
10.ContractassetsRelevantinformationoftheprovisionforbaddebtswillbedisclosedwithreferencetothedisclosuremethodofotherreceivablesiftheprovisionforbaddebtsofcontractassetsisaccruedaccordingtothegeneralmodelofexpectedcreditloss:
□Applicable√NotapplicableProvisionforimpairmentofcontractassetsinthecurrentperiodNone
11.Assetsdividedasheld-to-soldNotapplicable
12.Non-currentassetsduewithin1yearNone
13.Othercurrentassets
InRMB
Items | Year-endbalance | Year-beginningbalance |
Returnsreceivablecosts | 26,678,712.88 | 28,585,749.81 |
AfterthedeductionofinputVAT | 69,000,515.76 | 860,153.70 |
Advancepaymentofincometax | 13,259.97 | 57,448.91 |
Other | ||
Total | 95,692,488.61 | 29,503,352.42 |
Othernote:None
14.Creditor'srightinvestmentNoneLossprovisionchangesincurrentperiod,changeinbookbalancewithsignificantamount
□Applicable√Notapplicable
15.Othercreditor'srightsinvestmentNoneLossprovisionchangesincurrentperiod,changeinbookbalancewithsignificantamount
□Applicable√Notapplicable
16.Long-termaccountsreceivable
(1)Listoflong-termaccountsreceivableNoneLossprovisionchangesincurrentperiod,changeinbookbalancewithsignificantamount
□Applicable√Notapplicable
(2)Long-termaccountsreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassetsNotapplicable
(3)Theamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementoflong-termaccountsreceivableNotapplicable
17.Long-termequityinvestment
InRMB
Investees | Openingbalance | Increase/decrease | Closingbalance | Closingbalanceofimpairmentprovision | |||||||
Additionalinvestment | Decreaseininvestment | ProfitsandlossesoninvestmentsRecognizedundertheequitymethod | Othercomprehensiveincome | Changesinotherequity | Cashbonusorprofitsannouncedtoissue | Withdrawalofimpairmentprovision | Other | ||||
I.Jointventures | |||||||||||
ShenzhenGuanhuaPrinting&DyeingCo.,Ltd. | 128,214,225.54 | 1.00 | 0.00 | 1,312,916.11 | 129,527,142.65 | ||||||
Subtotal | 128,214,225.54 | 1.00 | 0.00 | 1,312,916.11 | 129,527,142.65 | ||||||
2.AffiliatedCompany | |||||||||||
ShenzhenChanglianfaPrinting&dyeingCompany | 2,972,202.97 | 404,580.26 | 3,376,783.23 | ||||||||
Yehui(Jordan)Co.,Ltd. | 0.00 | -954.76 | -954.76 | ||||||||
YehuiInternationalCo.,Ltd. | 1,835,897.26 | -58,964.33 | 76,710.78 | 1,853,643.71 | |||||||
Subtotal | 4,808,100.23 | 345,615.93 | 75,756.02 | 5,229,472.18 | |||||||
Total | 133,022 | 1.00 | 0.00 | 1,658,5 | 75,756. | 134,756, |
,325.77 | 32.04 | 02 | 614.83 |
Othernote:None
18.Otherequityinstrumentsinvestment
InRMB
Items | Year-endbalance | Year-beginningbalance |
ShenzhenDailishiUnderwearCo.,Ltd. | 23,637,000.00 | 23,637,000.00 |
UnionDevelopmentGroupCo.,Ltd. | 144,109,485.84 | 144,109,485.84 |
ShenzhenXinfangKnittingCo.,Ltd. | 2,227,903.00 | 2,227,903.00 |
ShenzhenSouthTextileCo.,Ltd. | 16,059,440.88 | 16,059,440.88 |
Total | 186,033,829.72 | 186,033,829.72 |
Itemizeddisclosureofthecurrentnon-tradingequityinstrumentinvestment
InRMB
Name | Recognizeddividendincome | Accumulatingincome | Accumulatinglosses | Amountofothercomprehensiveincometransferredtoretainedearnings | Reasonsforbeingmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome | Reasonsforothercomprehensiveincometransferredtoretainedearning |
ShenzhenDailishiUnderwearCo.,Ltd. | 21,077,143.74 | Long-termholding | ||||
UnionDevelopmentGroupCo.,Ltd. | 141,509,485.84 | Long-termholding | ||||
ShenzhenXinfangKnittingCo.,Ltd. | 1,703,903.00 | Long-termholding | ||||
ShenzhenSouthTextileCo.,Ltd. | 14,559,440.88 | Long-termholding | ||||
JintianIndustry(Group)Co.,Ltd. | 14,831,681.50 | Long-termholding |
Othernote:
None
19.Othernon-currentfinancialassets
InRMB
Items | Year-endbalance | Year-beginningbalance |
Financialassetsmeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses | 28,500,000.00 | 30,650,943.40 |
Total | 28,500,000.00 | 30,650,943.40 |
Othernote:None
20.Investmentrealestate
(1)Investmentrealestateadoptedthecostmeasurementmode
√Applicable□Notapplicable
InRMB
Items | House,Building | Landuseright | Constructioninprocess | Total |
I.Originalprice | |||
1.Balanceatperiod-beginning | 263,643,874.93 | 263,643,874.93 | |
2.Increaseinthecurrentperiod | |||
(1)Purchase | |||
(2)Inventory\Fixedassets\Transferredfromconstructioninprogress | |||
(3)IncreasedofEnterpriseCombination |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod |
(1)Dispose |
(2)Otherout |
4.Balanceatperiod-end
4.Balanceatperiod-end | 263,643,874.93 | 263,643,874.93 | |
II.Accumulatedamortization | |||
1.Openingbalance | 157,426,095.17 | 157,426,095.17 | |
2.Increasedamountoftheperiod | 3,545,302.69 | 3,545,302.69 | |
(1)Withdrawal | 3,545,302.69 | 3,545,302.69 |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod |
(1)Dispose |
(2)Otherout |
4.Balanceatperiod-end
4.Balanceatperiod-end | 160,971,397.86 | 160,971,397.86 | |
III.Impairmentprovision | |||
1.Balanceatperiod-beginning | |||
2.Increasedamountoftheperiod | |||
(1)Withdrawal |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod |
(1)Dispose |
(2)Otherout |
4.Balanceatperiod-end
4.Balanceatperiod-end | |||
IV.Bookvalue | |||
1.Bookvalueatperiod-end | 102,672,477.07 | 102,672,477.07 | |
2.Bookvalueatperiod-beginning | 106,217,779.76 | 106,217,779.76 |
(2)Investmentpropertyadoptedfairvaluemeasurementmode
□Applicable√Notapplicable
(3)Investmentrealestatewithoutcertificateofownership
InRMB
Items | Bookbalance | Reason |
HousesandBuilding | 10,108,893.93 | Unabletoapplyforwarrantsduetohistoricalreasons |
Othernote:None
21.Fixedassets
InRMB
Items | Year-endbalance | Year-beginningbalance |
Fixedassets | 2,375,066,082.11 | 2,424,741,252.86 |
Disposaloffixedassets | 278.92 | |
Total | 2,375,066,361.03 | 2,424,741,252.86 |
(1)Listoffixedassets
InRMB
Items | Houses&buildings | Machineryequipment | Transportations | Otherequipment | Total |
I.Originalprice | |||||
1.Openingbalance | 804,662,188.53 | 2,550,667,255.24 | 15,278,991.67 | 50,379,111.90 | 3,420,987,547.34 |
2.Increasedamountoftheperiod | 81,134,386.65 | 266,663.47 | 764,135.71 | 82,165,185.83 | |
(1)Purchase | 7,755,945.58 | 266,663.47 | 633,891.16 | 8,656,500.21 | |
(2)Transferredfromconstructioninprogress | 73,378,441.07 | 130,244.55 | 73,508,685.62 | ||
(3)IncreasedofEnterpriseCombination |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod | 1,481,595.99 | 347,858.54 | 1,829,454.53 | ||
(1)Disposal | 1,481,595.99 | 347,858.54 | 1,829,454.53 |
4.Balanceatperiod-end
4.Balanceatperiod-end | 804,662,188.53 | 2,630,320,045.90 | 15,545,655.14 | 50,795,389.07 | 3,501,323,278.64 |
II.Accumulateddepreciation | |||||
1.Openingbalance | 182,971,386.88 | 776,447,487.54 | 4,361,783.39 | 26,071,314.08 | 989,851,971.89 |
2.Increasedamountoftheperiod | 13,585,521.55 | 111,355,637.89 | 909,575.11 | 5,799,256.82 | 131,649,991.37 |
(1)Withdrawal | 13,585,521.55 | 111,355,637.89 | 909,575.11 | 5,799,256.82 | 131,649,991.37 |
3.Decreaseinthereportingperiod
3.Decreaseinthereportingperiod | 1,305,145.13 | 333,944.19 | 1,639,089.32 | ||
(1)Disposal | 1,305,145.13 | 333,944.19 | 1,639,089.32 |
4.Closingbalance
4.Closingbalance | 196,556,908.43 | 886,497,980.30 | 5,271,358.50 | 31,536,626.71 | 1,119,862,873.94 |
III.Impairmentprovision | |||||
1.Openingbalance | 6,361,553.37 | 32,769.22 | 6,394,322.59 | ||
2.Increaseinthereportingperiod | |||||
(1)Withdrawal |
3.Decreaseinthereportingperiod
3.Decreaseinthereportingperiod |
(1)Disposal |
4.Closingbalance
4.Closingbalance | 6,361,553.37 | 32,769.22 | 6,394,322.59 | ||
IV.Bookvalue | |||||
1.Bookvalueoftheperiod-end | 608,105,280.10 | 1,737,460,512.23 | 10,274,296.64 | 19,225,993.14 | 2,375,066,082.11 |
2.Bookvalueoftheperiod-begin | 621,690,801.65 | 1,767,858,214.33 | 10,917,208.28 | 24,275,028.60 | 2,424,741,252.86 |
(2)FixedassetstemporarilyidledNone
(3)FixedassetsrentedbyfinanceleasesNone
(4)Fixedassetswithoutcertificateoftitlecompleted
InRMB
Items | BookValue | Reason |
HousesandBuilding | 271,196,732.41 | Unabletoapplyforwarrantsduetohistoricalreasons |
Othernote:None
(5)Liquidationoffixedassets
InRMB
Items | Year-endbalance | Year-beginningbalance |
Liquidationoffixedassets | 278.92 | |
Total | 278.92 |
Othernote:None
22.Constructioninprogress
InRMB
Items | Year-endbalance | Year-beginningbalance |
Constructioninprogress | 23,222,687.28 | 71,482,031.08 |
Total | 23,222,687.28 | 71,482,031.08 |
(1)Listofconstructioninprogress
InRMB
Items | Year-endbalance | Year-beginningbalance | ||||
Bookbalance | Provisionfordevaluation | Bookvalue | Bookbalance | Provisionfordevaluation | Bookvalue | |
Installationofmachinesandequipment | 23,222,687.28 | 23,222,687.28 | 71,482,031.08 | 71,482,031.08 | ||
Total | 23,222,687.28 | 23,222,687.28 | 71,482,031.08 | 71,482,031.08 |
(2)ChangesofsignificantconstructioninprogressNone
(3)ImpairmentprovisionofconstructionprojectsNotapplicable
(4)EngineeringmaterialNotapplicable
23.Productivebiologicalassets
(1)Productivebiologicalassetsmeasuredatcostmethods
□Applicable√Notapplicable
(2)Productivebiologicalassetsmeasuredatfairvalue
□Applicable√Notapplicable
24.Oilandgasassets
□Applicable√Notapplicable
25.Righttouseassets
InRMB
Items | HouseandBuilding | Total |
1.Balanceatyearbeginning | ||
4.Year-endbalance | 13,762,176.74 | 13,762,176.74 |
2.Increaseatthisperiod | 11,575,546.14 | 11,575,546.14 |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod
4.Balanceatperiod-end
4.Balanceatperiod-end | 25,337,722.88 | 25,337,722.88 |
II.Accumulateddepreciation | ||
1.Openingbalance | 4,540,987.37 | 4,540,987.37 |
2.Increasedamountoftheperiod | 4,303,599.85 | 4,303,599.85 |
(1)Withdrawal |
3.Decreaseinthereportingperiod
3.Decreaseinthereportingperiod |
(1)Disposal |
4.Closingbalance
4.Closingbalance | 8,844,587.22 | 8,844,587.22 |
III.Impairmentprovision | ||
1.Openingbalance | ||
2.Increaseinthereportingperiod | ||
(1)Withdrawal |
3.Decreaseinthereportingperiod
(1)Disposal
4.Closingbalance
4.Closingbalance | ||
IV.Bookvalue | ||
1.Bookvalueoftheperiod-end | 16,493,135.66 | 16,493,135.66 |
2.Bookvalueoftheperiod-begin | 9,221,189.37 | 9,221,189.37 |
Othernote:None
26.Intangibleassets
(1)Information
InRMB
Items | Landuseright | Patentright | Non-proprietarytechnology | Software | Total |
I.Originalprice | |||||
1.Balanceatperiod-beginning | 48,258,239.00 | 11,825,200.00 | 21,696,241.02 | 81,779,680.02 | |
2.Increaseinthecurrentperiod | |||||
(1)Purchase | 460,596.04 | 460,596.04 | |||
(2)InternalR&D | |||||
(3)IncreasedofEnterpriseCombination |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod |
(1)Disposal |
4.Balanceatperiod-end
4.Balanceatperiod-end | 48,258,239.00 | 11,825,200.00 | 22,156,837.06 | 82,240,276.06 | |
II.Accumulatedamortization | |||||
1.Balanceatperiod-beginning | 14,382,583.03 | 11,825,200.00 | 6,936,736.99 | 33,144,520.02 | |
2.Increaseinthecurrentperiod | |||||
(1)Withdrawal | 445,782.66 | 2,076,587.06 | 2,522,369.72 |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod |
(1)Disposal |
4.Balanceatperiod-end
4.Balanceatperiod-end | 14,828,365.69 | 11,825,200.00 | 9,013,324.05 | 35,666,889.74 | |
III.Impairmentprovision | |||||
1.Balanceatperiod-beginning | |||||
2.Increaseinthecurrentperiod | |||||
(1)Withdrawal |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod |
(1)Disposal |
4.Balanceatperiod-end
4.Balanceatperiod-end | |||||
4.Bookvalue | |||||
1.Bookvalueatperiod-end | 33,429,873.31 | 0.00 | 0.00 | 13,143,513.01 | 46,573,386.32 |
2.Bookvalueatperiod-beginning | 33,875,655.97 | 0.00 | 0.00 | 14,759,504.03 | 48,635,160.00 |
TheproportiontheintangibleassetsformedfromtheinternalR&DthroughtheCompanyamountthebalanceoftheintangibleassetsattheperiod-end.
(2)Detailsoffixedassetsfailedtoaccomplishcertificationoflanduseright
Notapplicable
27.R&DexpensesNotapplicable
28.Goodwill
(1)Originalbookvalueofgoodwill
InRMB
Nameoftheinvesteesortheeventsformedgoodwill | Openingbalance | Increase | Decrease | Closingbalance | ||
Nameoftheinvesteesortheeventsformedgoodwill | Openingbalance | Themergerofenterprises | disposition | Closingbalance | ||
SAPOPhotoelectric | 9,614,758.55 | 9,614,758.55 | ||||
ShenzhenBeautyCenturyGarmentCo.,Ltd. | 2,167,341.21 | 2,167,341.21 | ||||
Total | 11,782,099.76 | 11,782,099.76 |
(2)Impairmentofgoodwill
InRMB
Nameoftheinvesteesortheeventsformedgoodwill | Openingbalance | Increase | Decrease | Closingbalance | ||
Nameoftheinvesteesortheeventsformedgoodwill | Openingbalance | Provision | disposition | Closingbalance | ||
SAPOPhotoelectric | 9,614,758.55 | 9,614,758.55 | ||||
ShenzhenBeautyCenturyGarmentCo.,Ltd. | 2,167,341.21 | 2,167,341.21 | ||||
Total | 11,782,099.76 | 11,782,099.76 |
InformationaboutanassetgrouporassetgroupportfolioNoneExplainthegoodwillimpairmenttestprocess,keyparameters(suchasforecastperiodgrowthrateatexpectedfuturecashflow,stableperiodgrowthrate,profitmargin,discountrate,forecastperiod,etc.)andtheconfirmationmethodofgoodwillimpairmentlossNoneImpactofthegoodwillimpairmenttestNoneOthernoteNone
29.Longtermamortizeexpenses
InRMB
Items | Balanceinyear-begin | Increaseinthisperiod | Amortizedexpenses | Otherloss | Balanceinyear-end |
Decorationfee | 332,644.10 | 0.00 | 71,039.99 | 261,604.11 | |
Renovationfee | 3,775,267.08 | 212,390.46 | 488,643.55 | 3,499,013.99 | |
Other | 1,279,384.76 | 0.00 | 326,828.08 | 952,556.68 | |
Total | 5,387,295.94 | 212,390.46 | 886,511.62 | 4,713,174.78 |
Othernote:None
30.Deferredincometaxassets/deferredincometaxliabilities
(1)Detailsoftheun-recognizeddeferredincometaxassets
InRMB
Items | Balanceinyear-end | Balanceinyear-begin | ||
Deductibletemporarydifference | Deferredincometaxassets | Deductibletemporarydifference | Deferredincometaxassets | |
Assetsdepreciationreserves | 5,852,540.16 | 1,463,135.04 | 5,766,782.71 | 1,440,192.90 |
Unattainedinternalsalesprofits | 1,394,515.52 | 348,628.88 | 2,324,192.50 | 348,628.88 |
Payrollpayable | 7,412,819.00 | 1,853,204.75 | 7,679,100.00 | 1,919,775.00 |
Total | 14,659,874.68 | 3,664,968.67 | 15,770,075.21 | 3,708,596.78 |
(2)Detailsoftheun-recognizeddeferredincometaxliabilities
InRMB
Items | Closingbalance | Openingbalance | ||
Deductibletemporarydifference | Deferredincometaxliabilities | Deductibletemporarydifference | Deferredincometaxliabilities | |
Changesinfairvalueofinvestmentsinotherequityinstruments | 178,849,973.46 | 44,712,493.37 | 178,849,973.46 | 44,712,493.37 |
Thedifferencebetweentheinitialrecognitioncostandtaxbaseoflong-termequityinvestmentofGuanhuaCompany | 62,083,693.36 | 15,520,923.34 | 62,083,693.36 | 15,520,923.34 |
Differdifferenceinrentreceivable | 6,026,475.40 | 1,506,618.85 | 5,636,976.78 | 1,409,244.20 |
Total | 246,960,142.22 | 61,740,035.56 | 246,570,643.60 | 61,642,660.91 |
(3)Deferredincometaxassetsorliabilitieslistedbynetamountafteroff-set
InRMB
Items | Trade-offbetweenthedeferredincometaxassetsandliabilities | Endbalanceofdeferredincometaxassetsorliabilitiesafteroff-set | Trade-offbetweenthedeferredincometaxassetsandliabilitiesatperiod-begin | Openingbalanceofdeferredincometaxassetsorliabilitiesafteroff-set |
Deferredincometaxassets | 3,664,968.67 | 3,708,596.78 | ||
Deferredincometaxliabilities | 61,740,035.56 | 61,642,660.91 |
(4)Detailsofincometaxassetsnotrecognized
InRMB
Items | Balanceinyear-end | Balanceinyear-begin |
Deductibletemporarydifference | 149,917,447.24 | 151,027,647.77 |
Deductibleloss | 667,032,025.03 | 736,209,989.47 |
Total | 816,949,472.27 | 887,237,637.24 |
(5)Deductiblelossesoftheun-recognizeddeferredincometaxassetwillexpireinthefollowingyears
InRMB
Year | Balanceinyear-end | Balanceinyear-begin | Remark |
2023 | 60,048,979.89 | 129,226,944.33 | |
2024 | 148,095,898.11 | 148,095,898.11 | |
2025 | 83,287,153.64 | 83,287,153.64 | |
2026 | 120,820,767.06 | 120,820,767.06 | |
2028 | 22,594,586.97 | 22,594,586.97 | |
2029 | 100,351,965.47 | 100,351,965.47 | |
2030 | 77,636,524.67 | 77,636,524.67 | |
2031 | 54,196,149.22 | 54,196,149.22 | |
Total | 667,032,025.03 | 736,209,989.47 |
Othernote:None
31.Othernon-currentassets
InRMB
Items | Balanceinyear-end | Balanceinyear-begin | ||||
Bookbalance | Provisionfordevaluation | Bookvalue | Bookbalance | Provisionfordevaluation | Bookvalue | |
Certificateofdepositformorethan1year | 30,000,000.00 | 30,000,000.00 | 30,030,410.96 | 30,030,410.96 | ||
InvestmentfundofShenzhenXieliAutomobileCo.,Ltd | 25,760,086.27 | 25,760,086.27 | 25,760,086.27 | 25,760,086.27 | ||
Other | 200,685.00 | 200,685.00 | ||||
Advancepaymentforequipmentfund | 28,769,782.86 | 28,769,782.86 | ||||
Total | 55,960,771.27 | 55,960,771.27 | 84,560,280.09 | 84,560,280.09 |
Othernote:Note
32.Short-termborrowings
(1)Categoriesofshort-termloans
InRMB
Items | Balanceinyear-end | Balanceinyear-begin |
Creditloans | 10,773,019.10 | 0.00 |
Uncountedandoutstandingacceptance | 11,288,842.02 | 37,575,113.83 |
notes | ||
Total | 22,061,861.12 | 37,575,113.83 |
(2)SituationofOverdueOutstandingShort-TermBorrowingThetotalamountofoverdueshort-termloansattheendofthisperiodisinRMB0.00,ofwhichtheimportantoverdueshort-termloansareasfollows:None
33.Transactionalfinancialliabilities
None
34.Derivativefinancialliability
None
35.Notespayable
InRMB
Type | Balanceinyear-end | Balanceinyear-begin |
BankacceptanceBill | 46,425,031.27 | 16,682,324.12 |
Total | 46,425,031.27 | 16,682,324.12 |
Thetotalnotepayablenotdueattheendoftheperiodis0.00yuan.
36.Accountspayable
(1)Listofaccountspayable
InRMB
Items | Balanceinyear-end | Balanceinyear-begin |
Within1year | 21,008,716.36 | 280,210,281.65 |
1-2years | 387,161,708.17 | 1,122,451.76 |
2-3years | 0.00 | 496,309.68 |
3-4years | 0.00 | 44,629.53 |
4-5years | 0.00 | 983,598.33 |
Over5years | 411,743.57 | 786,571.28 |
Total | 408,582,168.10 | 283,643,842.23 |
(2)SignificantadvancefromcustomersagingoveroneyearNone
37.Advanceaccount
(1)ListofAdvanceaccount
InRMB
Items | Balanceinyear-end | Balanceinyear-begin |
Within1year | 16,367,252.26 | 968,394.67 |
1-2years | 197,892.32 | |
Over3years | 639,024.58 | 639,024.58 |
Total | 17,006,276.84 | 1,805,311.57 |
(2)SignificantadvancefromcustomersagingoveroneyearNone
38.Contractliabilities
InRMB
Items | Balanceinyear-end | Balanceinyear-begin |
Goods | 122,759.15 | 68,955.21 |
Total | 122,759.15 | 68,955.21 |
AmountandreasonsforthesignificantchangeinthebookvalueduringthereportingperiodNone
39.PayableEmployeewage
(1)ListofPayrollpayable
InRMB
Items | Balanceinyear-begin | Increaseinthisperiod | Payableinthisperiod | Balanceinyear-end |
I.Short-termcompensation | 59,719,860.24 | 121,750,520.77 | 127,382,898.25 | 54,087,482.76 |
II.Post-employmentbenefits-definedcontributionplans | 7,706,967.36 | 7,706,967.36 | ||
Total | 59,719,860.24 | 129,457,488.13 | 135,089,865.61 | 54,087,482.76 |
(2)Short-termremuneration
InRMB
Items | Balanceinyear-begin | Increaseinthisperiod | Decreaseinthisperiod | Balanceinyear-end |
1.Wages,bonuses,allowancesandsubsidies | 57,114,308.02 | 108,558,742.96 | 114,539,999.73 | 51,133,051.25 |
2.Employeewelfare | 3,882,798.29 | 3,882,798.29 | 0.00 | |
3.Socialinsurancepremiums | 2,735,562.94 | 2,735,562.94 | 0.00 | |
Including:Medicalinsurance | 1,955,275.84 | 1,955,275.84 | 0.00 | |
Workinjuryinsurance | 119,422.77 | 119,422.77 | 0.00 | |
Maternityinsurance | 201,009.56 | 201,009.56 | 0.00 | |
Other | 459,854.77 | 459,854.77 | 0.00 | |
4.Publicreservesforhousing | 3,814,761.51 | 3,814,761.51 | 0.00 | |
5.Unionfundsandstaffeducationfee | 2,605,552.22 | 2,618,932.70 | 2,279,621.62 | 2,944,863.30 |
Other | 0.00 | 139,722.37 | 130,154.16 | 9,568.21 |
Total | 59,719,860.24 | 121,750,520.77 | 127,382,898.25 | 54,087,482.76 |
(3)Definedcontributionplanslisted
InRMB
Items | Balanceinyear-begin | Increaseinthisperiod | Decreaseinthisperiod | Balanceinyear-end |
1.Basicold-ageinsurancepremiums | 0.00 | 6,410,611.47 | 6,410,611.47 | 0.00 |
2.Unemployment | 0.00 | 149,878.42 | 149,878.42 | 0.00 |
insurance | ||||
3.Annuitypayment | 0.00 | 1,146,477.47 | 1,146,477.47 | 0.00 |
Total | 7,706,967.36 | 7,706,967.36 |
Othernote:
None
40.TaxPayable
InRMB
Items | Balanceinyear-end | Balanceinyear-begin |
VAT | 320,623.96 | 6,334,093.50 |
EnterpriseIncometax | 768,379.76 | 1,804,277.95 |
IndividualIncometax | 260,524.71 | 866,274.38 |
CityConstructiontax | 64,543.97 | 43,259.90 |
Housepropertytax | 1,280,294.26 | 102,146.02 |
Landusetax | 4,529.70 | 0.00 |
Educationsurcharge | 48,255.87 | 31,608.85 |
Stamptax | 12,600.06 | 18,966.49 |
Total | 2,759,752.29 | 9,200,627.09 |
Othernote:
None
41.Otherpayable
InRMB
Items | Balanceinyear-end | Balanceinyear-begin |
Interestpayable | 0.00 | |
Otherpayable | 139,364,842.98 | 201,317,421.35 |
Total | 139,364,842.98 | 201,317,421.35 |
(1)Interestpayable
None
(2)DividendspayableNone
(3)Otheraccountspayable(a)Otheraccountspayablelistedbynatureoftheaccount
InRMB
Items | Balanceinyear-end | Balanceinyear-begin |
EngineeringEquipmentfund | 30,634,930.38 | 91,213,156.89 |
Unitaccount | 60,004,929.20 | 51,681,042.57 |
Deposit | 17,267,441.75 | 43,277,481.38 |
Other | 31,457,541.65 | 15,145,740.51 |
Total | 139,364,842.98 | 201,317,421.35 |
(b)Othersignificantaccountspayablewithagingoveroneyear
None
42.Liabilitiesclassifiedasholdingforsale
None
43.Non-currentliabilitiesduewithin1year
InRMB
Items | Balanceinyear-end | Balanceinyear-begin |
Leaseliabilitiesduewithinoneyear | 9,045,873.71 | 5,175,393.52 |
Total | 9,045,873.71 | 5,175,393.52 |
Othernote:
None
44.Othercurrentliabilities
InRMB
Items | Balanceinyear-end | Balanceinyear-begin |
Didnotterminatetheconfirmationbillendorsement,discount | 40,146,023.59 | 27,523,903.58 |
Total | 40,146,023.59 | 27,523,903.58 |
Othernote:None
45.Long-termborrowing
(1)ListofLong-termborrowing
InRMB
Items | Balanceinyear-end | Balanceinyear-begin |
Mortgage-guaranteedloan | 728,782,222.63 | 683,016,243.25 |
Total | 728,782,222.63 | 683,016,243.25 |
Descriptionofthelong-termloanclassificationNoneOthernote:None,
46.Bondpayable
(1)BondpayableNone
(2)Changesofbondspayable(NotincludingtheotherfinancialinstrumentofpreferredstockandperpetualcapitalsecuritiesthatclassifyasfinancialliabilityNone
(3)NotetoconditionsandtimeofsharetransferofconvertiblebondsNone
(4)OtherfinancialinstrumentsthatareclassifiedasfinancialliabilitiesNone
47.Leaseliabilities
InRMB
Items | Balanceyear-end | Year-beginningbalance |
leaseliabilities | 17,470,690.57 | 9,419,249.23 |
Less:Leaseliabilitiesduewithin1year | -9,045,873.71 | -5,175,393.52 |
Total | 8,424,816.86 | 4,243,855.71 |
OthernoteTheaccruedinterestexpenseofleaseliabilitiesfromJanuarytoJune2022isRMB319,246.14,whichisincludedinthefinancialexpense-serviceexpense.
48.Long-termpayableNone
(1)Statementoflong-termpayrollpayableNone
(2)SpecialpayableNone
49.Longtermpayrollpayable
(1)Statementoflong-termpayrollpayableNone
(2)ChangeofdefinedbenefitplansNone
50.Estimatedliabilities
InRMB
Items | Balanceinyear-end | Balanceinyear-begin | Reason |
Repaymentpayable | 29,710,962.81 | 30,741,055.00 | |
Total | 29,710,962.81 | 30,741,055.00 |
Othernote:None
51.Deferredincome
InRMB
Items | Beginningofterm | Increasedthisterm | Decreasedthisterm | Endofterm | Reason |
GovernmentSubsidy | 110,461,293.15 | 13,586,815.72 | 10,382,503.03 | 113,665,605.84 | |
Total | 110,461,293.15 | 13,586,815.72 | 10,382,503.03 | 113,665,605.84 |
Detailsofgovernmentsubsidies:
InRMB
Items | Beginningofterm | Newsubsidyincurrentperiod | Amounttransferredtonon-operationalincome | Otherincomerecordedinthecurrentperiod | Amountofcostdeductedinthecurrentperiod | Otherchanges | Endofterm | Asset-relatedorincome-related |
ReceiptoftheprojectsubsidyfromtheFinanceCommitteeforAprilandJune2012 | 433,333.39 | 433,333.39 | Relatedtoassets | |||||
SubsidyfornewmaterialsofLine5 | 499,999.96 | 250,000.02 | 249,999.94 | Relatedtoassets | ||||
Subsidyforimportedequipmentandtechnology(Line4) | 11,672.06 | 11,672.06 | Relatedtoassets | |||||
Subsidyforimportedequipmentandtechnology(Line5) | 140,074.13 | 70,037.10 | 70,037.03 | Relatedtoassets | ||||
NationalDevelopmentandReformCommission'ssupportingfundsforstrategicemergingindustryprojects | 49,999.94 | 25,000.02 | 24,999.92 | Relatedtoassets | ||||
ImportsubsidyfundsforShenzhenMunicipalFinanceCommitteetoencouragetheintroductionofadvancedtechnology(inthecurrentmonth) | 14,388.09 | 7,194.06 | 7,194.03 | Relatedtoassets | ||||
Supportingfundsforpolarizer | 162,499.96 | 25,000.02 | 137,499.94 | Relatedtoassets |
materialsandtechnicalengineeringlaboratory | ||||||
MunicipalR&Dcenter(technicalcenter(funding) | 975,000.00 | 150,000.00 | 825,000.00 | Relatedtoassets | ||
FinanceCommittee'snewmaterialsgrant(EngineeringLaboratory) | 1,624,999.96 | 250,000.02 | 1,374,999.94 | Relatedtoassets | ||
SpecialfundforkeytechnicalR&Dprojectofopticalcompensationfilmforpolarizer | 2,624,999.96 | 250,000.02 | 2,374,999.94 | Relatedtoassets | ||
Localsupportingfundsforthesecond-phaseprojectofTFT-LCDpolarizer(Line6) | 9,750,000.00 | 750,000.00 | 9,000,000.00 | Relatedtoassets | ||
Pilotprojectofagglomerationdevelopmentofstrategicemergingindustryregion-Line6 | 12,999,999.96 | 1,000,000.02 | 11,999,999.94 | Relatedtoassets | ||
Thirdbatchofsupportingplansin2016andsupportingplansfornational/provincialprojectsforspecialfundsforemergingindustriesandfuturedevelopment | 3,249,999.96 | 250,000.02 | 2,999,999.94 | Relatedtoassets | ||
Purchasemoneyforproductionplant,equipmentandinstrumentsofLine6 | 26,000,000.04 | 1,999,999.98 | 24,000,000.06 | Relatedtoassets | ||
ReceiptofspecialsupportfundsfromPingshanNewDistrictDevelopmentandFinanceBureau | 324,999.96 | 25,000.02 | 299,999.94 | Relatedtoassets | ||
Receiptofthepolarizedlightindustrializationprojectforsuper- | 28,750,000.00 | 1,500,000.00 | 27,250,000.00 | Relatedtoassets |
largeTVfromShenzhenMunicipalFinanceCommittee | |||||||
FundingforR&DofkeytechnologiesofpolarizerforultrathinIPSsmartphoneterminals | 1,983,333.33 | 100,000.00 | 1,883,333.33 | Relatedtoassets | |||
R&Dofkeytechnologiesofhigh-performancepolarizerforlarge-sizedisplaypanel) | 6,000,000.00 | 6,000,000.00 | Relatedtoassets | ||||
ShenzhenSpecialFundSubsidyAgreementforImprovingAtmosphericEnvironmentalQuality | 147,643.86 | 147,643.86 | Relatedtoassets | ||||
Subsidiesforspecialtechnicaltransformationinvestmentprojectsfortechnicaltransformationmultiplicationin2020 | 159,916.67 | 9,500.22 | 150,416.45 | Relatedtoassets | |||
Specialmajorprojectawardandsupplementsupportplanfortechnicaltransformationmultiplicationin2021 | 10,662,333.32 | 551,500.04 | 10,110,833.28 | Relatedtoassets | |||
FundingforkeytechnologyR&Dprojectoflow-colorround-shapedpolarizerforZ2020N028fixedcurvatureAMOLED | 2,500,000.00 | 2,500,000.00 | Relatedtoassets | ||||
Industrialinvestmentprojectsupportplan-first-batchprojectfundingplanin2022 | 11,170,000.00 | 11,170,000.00 | Relatedtoassets | ||||
Enterpriseaward | 500,000.00 | 500,000.00 | Relatedto |
ofharmoniouslaborrelationsinPingshanDistrictin2020 | income | ||||||
Cultivationandsupportofhigh-techenterprisesinShenzhen'sscientificandtechnologicalinnovationin2022 | 1,000,000.00 | 1,000,000.00 | Relatedtoincome | ||||
Fundsubsidyfor"Ten"Policiesofanti-epidemicandaidenterprisesinPingshanDistrictin2022 | 71,614.00 | 71,614.00 | 与Relatedtoincome | ||||
One-timesubsidyfortrainingwithpostretainedin2022 | 657,375.00 | 657,375.00 | Relatedtoincome | ||||
Poststabilizationsubsidy | 174,966.00 | 174,966.00 | Relatedtoincome | ||||
Subsidyforoldelevatorrenovation | 720,241.51 | 55,877.86 | 664,363.65 | Relatedtoassets | |||
Postretainingsubsidy,etc. | 12,860.72 | 12,860.72 | Relatedtoincome | ||||
Textiletransferfund | 142,857.09 | 71,428.58 | 71,428.51 | Relatedtoassets | |||
Specialfundforatmosphericenvironmentalquality | 442,000.00 | 26,000.00 | 416,000.00 | Relatedtoassets | |||
Subsidyfortechnicaltransformationofdyeingprojects | 91,000.00 | 6,500.00 | 84,500.00 | Relatedtoassets |
Othernote:
None
52..Othernon-currentliabilitiesNone
53.Stockcapital
InRMB
Year-beginningbalance | Changed(+,-) | Balanceinyear-end | |||||
Issuanceofnewshare | Bonusshares | Capitalizationofpublicreserve | Other | Subtotal | |||
Totalofcapitalshares | 506,521,849.00 | 506,521,849.00 |
Othernote:None
54.Otherequityinstruments
(1)Basicinformationontheoutstandingotherfinancialinstruments,includingpreferredshares,perpetualbonds,etc.attheendofthereportingperiodNone
(2)Movementoftheoutstandingotherfinancialinstruments,includingpreferredshares,perpetualbonds,etc.attheendofthereportingperiodNone
55.Capitalreserves
InRMB
Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance |
Sharepremium | 1,826,482,608.54 | 1,826,482,608.54 | ||
Othercapitalreserves | 135,117,216.09 | 135,117,216.09 | ||
Total | 1,961,599,824.63 | 1,961,599,824.63 |
Othernotes,includingthenotetoitsincrease/decreaseandthecause(s)ofitsmovementinthereportingperiod:
None
56.Treasurystock
None
57.Othercomprehensiveincome
InRMB
Items | Year-beginningbalance | Amountofcurrentperiod | Year-endbalance | |||||
Amountincurredbeforeincometax | Less:Amounttransferredintoprofitandlossinthecurrentperiodthatrecogniedintoothercomprehensiveincomeinpriorperiod | Less:Priorperiodincludedinothercompositeincometransfertoretainedincomeinthecurrentperiod | Less:Incometaxexpenses | After-taxattributetotheparentcompany | After-taxattributetominorityshareholder | |||
1.Othercomprehensiveincomethat | 118,643,084.23 | 118,643,084.23 |
cannotbereclassifiedinthelossandgaininthefuture | ||||||
Changesinfairvalueofinvestmentsinotherequityinstruments | 118,643,084.23 | 118,643,084.23 | ||||
2.Othercomprehensiveincomereclassifiabletoprofitorlossinsubsequentperiods | 1,039,034.82 | 75,756.02 | 75,756.02 | 1,114,790.84 | ||
Translationdifferencesoffinancialstatementsdenominated | 1,039,034.82 | 75,756.02 | 75,756.02 | 1,114,790.84 | ||
Totalofothercomprehensiveincome | 119,682,119.05 | 75,756.02 | 75,756.02 | 119,757,875.07 |
Othernotesincludethevalidpartofgainandlossofacash-flowhedgeconvertedintoinitialamountofarbitrageditemsforadjustment:None
58.SpecialreservesNone
59.Surplusreserves
InRMB
Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance |
Statutorysurplusreserve | 98,245,845.47 | 98,245,845.47 | ||
Total | 98,245,845.47 | 98,245,845.47 |
Notetosurplusreserve,includingthenotetoitsincrease/decreaseandthecause(s)ofitsmovementinthereportingperiod:None
60.Retainedprofits
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Retainedearningsbeforeadjustmentsattheyearbeginning | 130,746,251.74 | 86,912,390.50 |
Retainedearningsafteradjustmentsatthe | 130,746,251.74 | 86,912,390.50 |
yearend | ||
Add:NetprofitattributabletoownersoftheCompanyfortheperiod | 42,433,525.10 | 61,162,384.25 |
Less:withdrawalofstatutorysurplusreserve | 3,175,360.75 | |
Commonstockdividendpayable | 25,326,092.45 | 15,195,655.47 |
Add:Othercomprehensiveincomecarriedforwardtoretainedearnings | 1,042,493.21 | |
Retainedprofitsattheperiodend | 147,853,684.39 | 130,746,251.74 |
Asregardsthedetailsofadjustedthebeginningundistributedprofits
(1)AstheretroactiveadjustmentonEnterpriseAccountingStandardsanditsrelatednewregulations,theaffectedbeginningundistributedprofitsareRMB0.00.
(2)Asthechangeoftheaccountingpolicy,theaffectedbeginningundistributedprofitsareRMB0.00.
(3)Asthecorrectionofsignificantaccountingerror,theaffectedbeginningundistributedprofitsareRMB0.00.
(4)Asthechangeofconsolidationscopecausedbythesamecontrol,theaffectedbeginningundistributedprofitsareRMB0.00.
(5)OtheradjustmentofthetotalaffectedbeginningundistributedprofitsareRMB0.00.
61.Businessincome,Businesscost
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod | ||
Income | Cost | Income | Cost | |
Mainbusiness | 1,425,009,759.63 | 1,240,002,222.92 | 1,097,424,726.81 | 859,513,585.39 |
Otherbusiness | 20,127,549.46 | 2,985,871.14 | 4,111,680.57 | 3,611,874.68 |
Total | 1,445,137,309.09 | 1,242,988,094.06 | 1,101,536,407.38 | 863,125,460.07 |
Income-relatedinformation:
InRMB
Type | Division1 | Division2 | Division3 | Total |
Typesofgoods | 1,369,146,600.89 | 53,399,773.66 | 22,590,934.54 | 1,445,137,309.09 |
Including | ||||
Polarizer | 1,369,146,600.89 | 1,369,146,600.89 | ||
Propertyleasemanagementandothers | 53,399,773.66 | 53,399,773.66 | ||
Textile | 22,590,934.54 | 22,590,934.54 | ||
Area | 1,369,146,600.89 | 53,399,773.66 | 22,590,934.54 | 1,445,137,309.09 |
Including | ||||
Domestic | 1,296,964,926.29 | 53,399,773.66 | 4,622,754.68 | 1,354,987,454.63 |
Abroard | 72,181,674.60 | 17,968,179.86 | 90,149,854.46 | |
Market | ||||
Including: | ||||
Textile | ||||
Contract | ||||
Including: |
Time |
Including: |
Term
Term |
Including: |
SalesChannel
SalesChannel |
Including: |
Total
Informationrelatedtoperformanceobligations:NoneInformationrelatedtothetransactionpriceapportionedtotheresidualperformanceobligation:
TheincomecorrespondingtotheperformanceobligationsthathavenotbeenperformedorhavebeenperformedincompletelybutthecontracthasbeensignedattheendofthereportingperiodisRMB0.00,ofwhichRMB
0.00isexpectedtoberecognizedasincomeintheyear,RMB0.00isexpectedtoberecognizedasincomeintheyear,andRMB0.00isexpectedtoberecognizedasincomeintheyear.Othernote:None
62.Taxesandsurcharges
InRMB
Total
Items
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Urbanconstructiontax | 193,493.65 | 281,149.75 |
Educationsurcharge | 133,269.00 | 200,819.41 |
Propertytax | 2,911,689.84 | 2,888,631.84 |
Landusetax | 97,737.54 | 184,237.54 |
vehicleandvesselusagetax | 1,440.00 | 360.00 |
Stamptax | 829,848.83 | 717,598.47 |
Other | 3,883.32 | 8,247.78 |
Total | 4,171,362.18 | 4,281,044.79 |
Othernote:None
63.Salesexpenses
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Wage | 9,765,028.00 | 9,298,067.94 |
Transportationchanges | 0.00 | 0.00 |
Exhibitionfee | 0.00 | 0.00 |
Businessexpenses | 734,977.55 | 522,657.33 |
Samplesandproductloss | 697,198.25 | 751,108.62 |
Propertyinsurance | 2,716,981.13 | |
Sell | 5,791,774.85 | 5,768,718.15 |
Travelexpenses | 444,372.70 | 485,870.44 |
Other | 922,396.04 | 950,371.21 |
Total | 18,355,747.39 | 20,493,774.82 |
Othernote:None
64.Administrativeexpenses
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Wage | 40,666,351.70 | 38,236,906.16 |
Depreciationoffixedassets | 7,296,978.02 | 4,879,277.56 |
Waterandelectricity | 1,062,777.63 | 3,022,844.03 |
Intermediaryorgan | 2,701,374.70 | 1,931,057.09 |
Intangibleassetsamortization | 2,514,696.45 | 832,673.40 |
Travelexpenses | 131,833.96 | 210,173.80 |
Officeexpenses | 362,061.20 | 443,729.99 |
Businessentertainment | 729,775.83 | 588,954.42 |
Repaircharge | 670,088.51 | 604,512.02 |
Propertyinsurance | 209,327.75 | 128,797.77 |
Lowconsumablesamortization | 69,360.98 | 857,011.20 |
Boardfees | 190,498.78 | 109,620.00 |
Rentalfee | 1,650,936.30 | 0.00 |
Other | 3,192,127.05 | 3,482,103.32 |
Tax | 61,448,188.86 | 55,327,660.76 |
Othernote:None
65.R&Dcosts
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Wage | 8,566,206.98 | 8,134,336.44 |
Material | 23,286,446.67 | 18,818,987.18 |
Depreciation | 1,908,863.88 | 1,650,506.69 |
Fuel&Power | 473,821.67 | 423,847.84 |
Travelexpenses | 45,732.13 | 96,760.54 |
Other | 589,921.33 | 45,654.70 |
Total | 34,870,992.66 | 29,170,093.39 |
Othernote:None
66.FinancialExpenses
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Interestexpenses | 15,882,534.27 | 379,800.97 |
Interestincome | -773,863.34 | -840,978.40 |
Exchangeloss | -27,366,911.14 | -12,318,481.73 |
Feesandother | 3,424,366.77 | 3,564,625.68 |
Total | -8,833,873.44 | -9,215,033.48 |
Othernote:None
67.Otherincome
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
GovemmentSubsidy | 10,780,654.48 | 8,764,569.01 |
68.Investmentincome
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Long-termequityinvestmentreturnsaccountedforbyequitymethod | 1,658,532.04 | -412,713.12 |
Investmentincomefromthedisposaloflong-termequityinvestment | 20,779.93 | |
Dividendincomeearnedduringinvestmentholdingsinotherequityinstruments | 708,000.00 | 1,122,007.80 |
Structureddepositinterest | 8,967,680.80 | 9,422,057.74 |
Other | -291,040.32 | |
Total | 11,043,172.52 | 10,152,132.35 |
Othernote:None
69.NetexposurehedgingincomeNone
70.Gainsonthechangesinthefairvalue
InRMB
Source | Amountofthisperiod | Amountoflastperiod |
Transactionfinancialassets | 0.00 | 914,599.37 |
Total | 914,599.37 |
Othernote:None
71.Creditimpairmentloss
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Lossofbaddebtsinotherreceivables | 6,951,880.47 | -5,217,962.16 |
Lossofbadnotereceivable | 291,096.44 | 58,202.39 |
Lossofbadaccountsreceivable | -10,228,230.44 | 812,160.93 |
Total | -2,985,253.53 | -4,347,598.84 |
Othernote:None
72.Lossesfromassetimpairment
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
II.LossofinventorypriceandImpairmentofcontractperformancecosts | -42,073,672.20 | -52,628,070.13 |
Total | -42,073,672.20 | -52,628,070.13 |
Othernote:
None
73.Assetdisposalincome
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Gains&lossesonthedisposaloffixedassets | -11,114.72 | -55.96 |
74.Non-Operationincome
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod | Recordedintheamountofthenon-recurringgainsandlosses |
Returninsurancesettlementincome | 1,615,000.00 | 1,615,000.00 | |
Nopaymentrequired | 78,644.95 | 17,140,459.60 | 78,644.95 |
Other | 74,470.10 | 18,938.83 | 74,470.10 |
Payablewithoutpayment | 0.00 | 3,278,053.95 | |
Total | 1,768,115.05 | 20,437,452.38 | 1,768,115.05 |
Governmentsubsidiesrecordedintocurrentprofitsandlosses:None
75.Non-currentexpenses
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod | Theamountofnon-operatinggains&lossed |
Other | 202,204.91 | 0.00 | 202,204.91 |
Non-currentassetDispositionloss | 10,885.38 | 344,978.92 | 10,885.38 |
Total | 213,090.29 | 344,978.92 | 213,090.29 |
Othernote:None
76.Incometaxexpenses
(1)Incometaxexpenses
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Currentincometaxexpense | 16,930.91 | 7,936,142.04 |
Deferredincometaxexpense | 323,966.90 | -57,226.00 |
Total | 340,897.81 | 7,878,916.04 |
(2)Reconciliationofaccountprofitandincometaxexpenses
InRMB
Items | Amountofcurrentperiod |
Totalprofits | 70,445,608.69 |
Incometaxexpensescalculatedattheapplicabletaxrate | 17,469,185.37 |
Influenceofdifferenttaxratesappliedbysomesubsidiaries | -5,705,058.69 |
Incomenotsubjecttotax | -2,348,309.43 |
Non-deductiblecosts,expensesandlosses | 6,733,685.35 |
Taximpactbytheunrecognizeddeductiblelossesanddeductibletemporarydifferencesinpreviousyears | -11,684,949.37 |
Taximpactofunrecognizeddeductiblelossesanddeductibletemporarydifferences | 1,106,993.48 |
Taximpactofresearchanddevelopmentfeeplusdeduction | -5,230,648.90 |
Incometaxexpense | 340,897.81 |
Othernote:None
77.OthercomprehensiveincomeRefertothenotes57
78.Supplementaryinformationtocashflowstatement
(1)Othercashreceivedrelevanttooperatingactivities
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Interestincomeandother(Notincludingfinancingproduct) | 559,472.02 | 665,366.82 |
LetterofCreditDeposit | 152,041,095.07 | 13,963,635.17 |
GovernmentSubsidy | 13,883,551.50 | 7,242,800.00 |
Currentaccount | 120,535,575.04 | 16,893,575.28 |
Insuranceclaim | 0.00 | 3,255,114.00 |
Total | 287,019,693.63 | 42,020,491.27 |
Notetoothercashreceivedinconnectionwithoperatingactivities:None
(2)Othercashpaidrelatedtooperatingactivities
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Paymentofcreditdeposit | 11,655,819.11 | 122,116,897.49 |
Other | 37,548,518.13 | 38,830,126.18 |
Total | 49,204,337.24 | 160,947,023.67 |
Notetoothercashpaidinconnectionwithoperatingactivities:None
(3)Cashreceivedrelatedtootherinvestmentactivities
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Structureddeposits,financialproducts,principalandincome | 635,000,000.00 | 779,428,611.40 |
Total | 635,000,000.00 | 779,428,611.40 |
Notetoothercashreceivedrelatedtootherinvestmentactivities:None
(4).Cashpaidrelatedtootherinvestmentactivities
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Purchaseoffinancialmanagement,structureddepositandinvestment | 650,000,001.00 | 732,374,977.65 |
Total | 650,000,001.00 | 732,374,977.65 |
NotetootherCashpaidrelatedtootherinvestmentactivities:None
(5)OthercashreceivedinrelationtofinancingactivitiesNone
(6)Cashpaidrelatedwithfinancingactivities
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Restrictedstockofstockrepurchaseincentiveobject | 0.00 | 7,820,298.30 |
Total | 7,820,298.30 |
NotetootherCashpaidrelatedwithfinancingactivities:None
79.SupplementInformationforcashflowstatement
(1)SupplementInformationforcashflowstatement
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
I.Adjustingnetprofittocashflowfromoperatingactivities | ||
Netprofit | 70,104,710.88 | 113,422,540.25 |
Add:Impairmentlossprovisionofassets | 45,058,925.73 | 52,628,070.13 |
Depreciationoffixedassets,oilandgasassetsandconsumablebiologicalassets | 74,763,001.21 | 58,051,019.56 |
DepreciationofUserightassets | ||
Amortizationofintangibleassets | 460,596.04 | 832,673.40 |
AmortizationofLong-termdeferredexpenses | 674,121.16 | 390,173.02 |
Lossondisposaloffixedassets,intangibleassetsandotherlong-termdeferredassets | 11,114.72 | 20,779.93 |
Fixedassetsscraploss | 427,672.86 | |
Lossonfairvaluechanges | -914,599.37 | |
Financialcost | -8,833,873.44 | -9,215,033.48 |
Lossoninvestment | -11,043,172.52 | -10,131,352.42 |
Decreaseofdeferredincometaxassets | 43,628.11 | -57,226.00 |
Increasedofdeferredincometaxliabilities | 97,374.65 | -334,656.31 |
Decreaseofinventories | -113,943,401.07 | -95,326,175.24 |
Deceaseofoperatingreceivables | -74,703,894.32 | -84,942,673.31 |
IncreasedofoperatingPayable | 96,749,103.44 | -77,494,749.27 |
Other | ||
Netcashflowsarisingfromoperatingactivities | 79,438,234.59 | -52,643,536.25 |
II.Significantinvestmentandfinancingactivitiesthatwithoutcashflows: | ||
Conversionofdebtintocapital | ||
Convertiblecorporatebondsmaturingwithinoneyear | ||
Financingoffixedassetsleased | ||
III.Movementofcashandcashequivalents: | ||
Endingbalanceofcash | 348,660,980.95 | 252,993,764.22 |
Less:Beginningbalanceofcashequivalents | 302,408,433.72 | 278,337,236.95 |
Add:Endbalanceofcashequivalents | ||
Less:Beginningbalanceofcashequivalents |
Netincreaseofcashandcashequivalent | 46,252,547.23 | -25,343,472.73 |
(2)NetCashpaidofobtainingthesubsidiaryNone
(3)NetCashreceiveofdisposalofthesubsidiaryNone
(4)Componentofcashandcashequivalents
InRMB
Items | Year-endbalance | Year-beginningbalance |
I.Cash | 348,660,980.95 | 302,408,433.72 |
Including:Cashathand | 6,238.09 | 792.64 |
Demandbankdeposit | 348,654,742.86 | 302,407,641.08 |
III.Balanceofcashandcashequivalentsattheperiodend | 348,660,980.95 | 302,408,433.72 |
Othernote:
None
80.Noteofstatementofchangesintheowner'sequitySpecifythedescriptionoftheitem"others"andtheadjustedamountofthebalanceattheendoflastyear:None
81.Theassetswiththeownershiporuserightrestricted
InRMB
Items | Bookvalueattheendofthereportingperiod | Causeofrestriction |
Monetaryfund | 7,940,013.85 | DepositforL/C |
Fixedassets | 238,616,091.47 | Mortgage |
Intangibleassets | 33,433,699.75 | Mortgage |
Total | 279,989,805.07 |
Othernote:None
82.Foreigncurrencymonetaryitems
(1)Foreigncurrencymonetaryitems
InRMB
Items | Closingforeigncurrencybalance | Exchangerate | ClosingconverttoRMBbalance |
Monetaryfunds | |||
Including:USD | 3,899,216.67 | 6.7114 | 26,169,202.76 |
Euro | |||
HKD | 800,248.29 | 0.8552 | 684,372.34 |
Yen | 22,112,084.00 | 0.0491 | 1,085,703.32 |
Accountpayable | |||
Including:USD | 5,847,606.34 | 6.7114 | 39,245,625.19 |
Euro | |||
HKD | 278,280.00 | 0.8552 | 237,985.06 |
Long-termborrowing
Long-termborrowing |
Including:USD |
Euro |
HKD | |||
Otherreceivable | |||
Including:USD | 70,526.62 | 6.7114 | 473,332.36 |
Otherpayable | |||
Including:USD | 676,686.00 | 6.7114 | 4,541,510.42 |
HKD | 30,450.09 | 0.8552 | 26,040.92 |
Yen | 3,381,984.00 | 0.0491 | 166,055.41 |
Euro | 22,500.00 | 7.0084 | 157,689.00 |
Accountpayable | |||
Including:USD | 6,561,323.06 | 6.7114 | 44,035,663.58 |
Yen | 4,040,248,216.00 | 0.0491 | 198,376,187.41 |
Othernote:
None
(2)Notetooverseasoperatingentities,includingimportantoverseasoperatingentities,witchshouldbedisclosedaboutitsprincipalbusinessplace,functioncurrencyforbookkeepingandbasisforthechoice.Incaseofanychangeinfunctioncurrency,thecauseshouldbedisclosed.
□Applicable√Notapplicable
83.HedgingArbitrageAccordingtoarbitragecategorytodisclosearbitrageitem,relevantarbitragetoolsandthearbitragedriskqualitativeandquantitativeinformation:None
84.Governmentsubsidies
(
)Governmentsubsidiesconfirmedincurrentperiod
InRMB
Items | Amount | Project | Amountincludedincurrentprofitandloss |
ABseatoldelevatorrenovationsubsidy | 50,000.00 | Otherincome | 50,000.00 |
Poststabilizationsubsidy | 77,242.92 | Otherincome | 77,242.92 |
Protectionsuppliessupport | 10,000.00 | Otherincome | 10,000.00 |
Elevatorrenovationrenewalsubsidies | 5,877.86 | Otherincome | 5,877.86 |
Postretainingsubsidy,etc. | 8,000.00 | Otherincome | 8,000.00 |
Socialsecurityreturn | 3,692.52 | Otherincome | 3,692.52 |
Other | 3,579.33 | Otherincome | 3,579.33 |
Receivedindividualincometaxhandlingfeerefund | 57,297.68 | Otherincome | 57,297.68 |
FutianGovernmentFutianDistrictInvestmentPromotionandEnterpriseServiceCenterProtectiveEquipmentSupportGovernmentSubsidies | 10,000.00 | Otherincome | 10,000.00 |
AdditionalVATreductionandexemptionbythetaxbureauimplementingthesix-taxandtwo-feereductionandexemptionpolicyforsmallandmicroenterprises. | 7,743.96 | Otherincome | 7,743.96 |
SocialSecurityBureauUnemploymentInsuranceStabilizingPostsandPreventingUnemploymentOne-offTrainingSubsidiesforStayinginWork | 18,625.00 | Otherincome | 18,625.00 |
SubsidyfornewmaterialsofLine5 | 5,000,000.00 | Deferredincome | 250,000.04 |
Subsidyforimportedequipmentandtechnology(Line5) | 1,400,741.72 | Deferredincome | 70,037.10 |
NationalDevelopmentandReformCommission'ssupportingfundsforstrategicemergingindustryprojects | 500,000.00 | Deferredincome | 25,000.02 |
Subsidies(currentmonth)byShenzhenMunicipalFinanceCommitteeencouragingtheintroductionofadvancedtechnologyimport | 143,881.00 | Deferredincome | 7,194.06 |
SupportingFundsforPolarizerMaterialsandTechnologyEngineeringLaboratory | 500,000.00 | Deferredincome | 25,000.02 |
MunicipalR&DCenter(TechnologyCenter(Grant) | 3,000,000.00 | Deferredincome | 150,000.00 |
FinanceCommitteeNewMaterialGrant(EngineeringLaboratory) | 5,000,000.00 | Deferredincome | 250,000.02 |
SpecialfundforkeytechnicalR&Dprojectofopticalcompensationfilmforpolarizer | 5,000,000.00 | Deferredincome | 250,000.02 |
TLocalsupportingfundsforthesecond-phaseprojectofTFT-LCDpolarizer(Line6) | 15,000,000.00 | Deferredincome | 750,000.00 |
Pilotprojectofagglomerationdevelopmentofstrategicemergingindustryregion-Line6 | 20,000,000.00 | Deferredincome | 1,000,000.02 |
Thirdbatchofsupportingplansin2016andsupportingplansfornational/provincialprojectsforspecialfundsforemergingindustriesandfuturedevelopment | 5,000,000.00 | Deferredincome | 250,000.02 |
Purchasemoneyforproductionplant,equipmentandinstrumentsofLine6 | 40,000,000.00 | Deferredincome | 1,999,999.98 |
ReceiptofspecialsupportfundsfromPingshanNewDistrictDevelopmentandFinanceBureau | 500,000.00 | Deferredincome | 25,000.02 |
Receiptofthepolarizedlightindustrializationprojectforsuper-largeTVfromShenzhenMunicipalFinanceCommittee | 30,000,000.00 | Deferredincome | 1,500,000.00 |
FundingforR&DofkeytechnologiesofpolarizerforultrathinIPSsmartphoneterminals | 2,000,000.00 | Deferredincome | 100,000.00 |
FundofShenzhenMunicipalFinanceCommittee(Z2018N007R&Dofkeytechnologiesofhigh-performancepolarizerforlarge-sizedisplaypanel) | 6,000,000.00 | Deferredincome | 0.00 |
Subsidiesforspecialtechnicaltransformationinvestmentprojectsfortechnicaltransformationmultiplicationin2020 | 190,000.00 | Deferredincome | 9,500.22 |
Specialmajorprojectawardandsupplementsupportplanfortechnicaltransformationmultiplicationin2021 | 11,030,000.00 | Deferredincome | 551,500.02 |
FundingforkeytechnologyR&Dprojectoflow-colorround-shapedpolarizerforZ2020N028fixedcurvatureAMOLED | 2,500,000.00 | Deferredincome | 0.00 |
Industrialinvestmentprojectsupportplan-first-batchprojectfundingplanin2022 | 11,170,000.00 | Deferredincome | 0.00 |
TheprojectsubsidiesreceivedfromtheFinanceCommitteeinAprilandJune2012 | 433,333.39 | Deferredincome | 433,333.39 |
Subsidiesforpurchaseofimportedequipmentandtechnical(Line4) | 11,672.06 | Deferredincome | 11,672.06 |
ShenzhenMunicipalAtmosphericEnvironmentQualityImprovementSpecialFundSubsidyAgreement | 147,643.86 | Deferredincome | 147,643.86 |
Receivedthehandlingfeeoftaxwithheldandpaidbythetaxbureau | 100,132.83 | Deferredincome | 100,132.83 |
ReceivedtheSocialSecurityBureau’sStableJobSubsidy | 174,966.00 | Deferredincome | 174,966.00 |
Receivedthefirstbatchofone-offtrainingsubsidiesforjobretentionin2022fromtheSocialSecurityBureau | 657,375.00 | Deferredincome | 657,375.00 |
Receivedthe"Ten"policysubsidybyPingshanDistrict'santi-epidemic | 71,614.00 | Deferred | 71,614.00 |
warm-heartedaidin2022(thefirstbatch) | income | ||
Receivedthe2020PingshanDistrictHarmoniousLaborRelationsEnterpriseAwardFund(Thirdclass) | 500,000.00 | Deferredincome | 500,000.00 |
Receivedthefirstgrantofthesecondbatchof2022High-techEnterpriseCultivationFundingofShenTechnologyInnovation | 1,000,000.00 | Deferredincome | 1,000,000.00 |
(2)Governmentsubsidyreturn
□Applicable√Notapplicable
85.OtherNoneVIII.Changesofmergescope
1.Businessmergernotundersamecontrol
(1)Businessmergernotundersamecontrolinreportingperiod
None
(2)Combinedcostandgoodwill
None
(2)Combinedcostandgoodwill
None
(4)Theprofitorlossfromequityheldbythedatebeforeacquisitioninaccordancewiththefairvaluemeasuredagain、Whetherthereisatransactionthatthroughmultipletransactionstepbysteptorealizeenterprisesmergerandgainingthecontrolduringthereportingperiod
□Yes√No
(5)NotetomergercouldnotbedeterminedreasonableconsiderationorIdentifiableassets,FairvalueofliabilitiesoftheacquireeatacquisitiondateorclosingperiodofthemergeNone
(6)Othernote
None
2.Businesscombinationunderthesamecontrol
(1)Businesscombinationunderthesamecontrolduringthereportingperiod
None
(2)CombinationcostNone
(3)ThebookvalueoftheassetsandliabilitiesofthemergedpartyonthedateofconsolidationNone
3.CounterpurchaseBasicinformationoftrading,thebasisoftransactionsconstitutecounterpurchase,theretainassets,liabilitiesofthelistedcompanieswhetherconstitutedabusinessanditsbasis,thedeterminationofthecombinationcosts,theamountandcalculationofadjustedrightsandinterestsinaccordancewiththeequitytransactionprocess.None
4.ThedisposalofsubsidiaryWhetherthereisasingledisposaloftheinvestmenttosubsidiaryandlostcontrol
□Yes√NoWhethertherearemultipletransactionsstepbystepdisposetheinvestmenttosubsidiaryandlostcontrolinreportingperiod
□Yes√No
5.OtherreasonsforthechangesincombinationscopeNotetothechangeintheconsolidationscope(e.g.newsubsidiaries,liquidationsubsidiaries,etc.)causedbyotherreasonsandrelevantinformation:
None
6.OtherNone
IX.Equityinotherentities
1.Equityinsubsidiary
(1)Thestructureoftheenterprisegroup
Subsidiary | Mainoperation | Registeredplace | Businessnature | Share-holdingratio | Acquiredway | |
Directly | Indirectly | |||||
ShenzhenLishiIndustryDevelopmentCo.,Ltd | Shenzhen | Shenzhen | Domestictrade,PropertyManagement | 100.00% | Establish | |
ShenzhenHuaqiangHotel | Shenzhen | Shenzhen | Accommodation,restaurants,businesscenter; | 100.00% | Establish | |
ShenfangPropertyManagementCo.,Ltd. | Shenzhen | Shenzhen | PropertyManagement | 100.00% | Establish | |
ShenzhenBeautyCenturyGarmentCo.,Ltd. | Shenzhen | Shenzhen | Productionoffullyelectronicjacquardknittingwholeshape | 100.00% | Establish | |
ShenzhenShenfangSungangPropertyManagementCo.,Ltd. | Shenzhen | Shenzhen | PropertyManagement | 100.00% | Establish | |
SAPOPhotoelectric | Shenzhen | Shenzhen | Polarizerproductionandsales | 60.00% | Purchase | |
Shengtou(Hongkong)Co.,Ltd. | Hongkong | Hongkong | Productionandsalesofpolarizer | 100.00% | Establish | |
ShenzhenShengjinlianTechnologyCo.,Ltd. | Shenzhen | Shenzhen | Propertyleasing | 100.00% | Establish |
Explanationthattheshareholdingratioinsubsidiariesisdifferentfromthevotingrightratio:NoneBasisforholdinghalforlessvotingrightsbutstillcontrollingtheinvestee,andholdingmorethanhalfvotingrightsbutnotcontrollingtheinvestee:NoneFortheimportantstructuredsubjectsincludedinthescopeofconsolidation,thecontrolbasisis:NoneBasisfordeterminingwhetherthecompanyisanagentoraprincipal:NoneOthernote:Note
(2)Significantnotwholly-ownedsubsidiaries
InRMB
Name | Holdingproportionofnon-controllinginterest | Profitorlossattributabletonon-controllinginterest | Dividenddeclaredtonon-controllinginterest | Closingbalanceofnon-controllinginterest |
SAPOPhotoelectric | 40.00% | 27,671,185.78 | 0.00 | 1,174,704,542.96 |
Othernote:
None
(3)Mainfinancialinformationofsignificantnotwholly-ownedsubsidiaries
InRMB
Subsidiaries | Closingbalance | Beginningbalance | ||||||||||
Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentLiabilities | Totalliabilities | Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentLiabilities | Totalliabilities | |
SAPOPhotoelectric | 1,947,415,650.28 | 2,458,958,903.15 | 4,406,374,553.43 | 595,626,615.60 | 879,347,315.98 | 1,474,973,931.58 | 1,627,394,110.47 | 2,581,716,148.26 | 4,209,110,258.73 | 517,271,215.13 | 827,066,348.51 | 1,344,337,563.64 |
InRMB
Subsidiaries | Currentterm | Lastterm | ||||||
Operatingrevenue | Netprofit | Totalcomprehensiveincome | Cashflowfromoperatingactivities | Operatingrevenue | Netprofit | Totalcomprehensiveincome | Cashflowfromoperatingactivities | |
SAPOPhotoelectric | 1,390,584,901.04 | 69,177,964.44 | 69,177,964.44 | 80,837,844.34 | 1,026,352,289.62 | 79,133,750.25 | 79,133,750.25 | -49,132,316.09 |
Othernote:None
(4)SignificantrestrictionsofusingenterprisegroupassetsandpayoffenterprisegroupdebtNone
(5)ProvidefinancialsupportorothersupportforstructureentitiesincorporateintothescopeofconsolidatedfinancialstatementsNoneOthernote:None
2.ThetransactionoftheCompanywithitsowner’sequitysharechangedbutstillcontrollingthesubsidiary
(1)Notetoowner’sequitysharechangedinsubsidiaryNotapplicable
(2)Thetransaction’sinfluencetoequityofminorityshareholdersandattributabletotheowner'sequityoftheparentcompanyNotapplicable
3.Equityinjointventurearrangementorassociatedenterprise
(1)Significantjointventurearrangementorassociatedenterprise
NameofSubsidiary | MainPlacesofOperation | RegistrationPlace | NatureofBusiness | ShareholdingRatio(%) | Theaccountingtreatmentofinvestmentinassociates | |
direct | indirect | |||||
ShenzhenGuanhuaPrinting& | Shenzhen | Shenzhen | Propertyleasing | 50.16% | Equitymethod |
Explanationthattheshareholdingratiointhejointventureorassociatedenterpriseisdifferentfromthevotingrightratio:NoneBasisforholdinglessthan20%ofvotingrightsbutwithsignificantinfluence,orholding20%ormoreofvotingrightsbutwithoutsignificantinfluence:None
(2)TheSummarizedFinancialInformationofJointVentures
InRMB
DyeingCo.,LtdYear-endbalance/Amountofcurrent
period
Year-endbalance/Amountofcurrentperiod | Year-beginningbalance/Amountofpreviousperiod |
Currentassets
Currentassets | 40,540,555.98 | 37,787,147.72 |
Including:Cashandcashequivalent | 224,653,907.84 | 227,586,396.23 |
Non-currentassets | 265,194,463.82 | 265,373,543.95 |
Totalassets | 15,427,466.62 | 18,194,214.40 |
Currentliabilities | 34,108,058.19 | 35,190,853.69 |
Non-currentliabilities | 49,535,524.81 | 53,385,068.09 |
Totalliabilities | 215,658,939.01 | 211,988,475.86 |
Minorityequity | ||
Attributabletoshareholdersoftheparentcompany | 215,658,939.01 | 211,988,475.86 |
Shareofnetassetscalculatedbystake | 108,174,523.81 | 106,333,419.49 |
Adjustmentitems | ||
--Goodwill | 21,595,462.44 | 21,595,462.44 |
--Internaltransactionsdidnotachieveprofit | 0.00 | 0.00 |
--Other | 285,343.61 | 285,343.61 |
Bookvalueofequityinvestmentinjointventures | 130,055,329.86 | 128,214,225.54 |
Thefairvalueoftheequityinvestmentofajointventurewithapublicquotation | ||
Operatingincome | 10,946,554.54 | 8,614,658.31 |
Financialexpenses | -135,801.19 | -53,530.25 |
Incometaxexpenses | -717,712.93 | 1,990,580.05 |
Netprofit | 2,617,456.35 | -525,032.86 |
Netprofitfromterminatedoperations | ||
Othercomprehensiveincome | ||
Totalcomprehensiveincome | 2,617,456.35 | -525,032.86 |
Dividendsreceivedfromjointventuresforthisyear
Dividendsreceivedfromjointventuresforthisyear | 0.00 | 0.00 |
Othernote:
None
(3)MainfinancialinformationofsignificantassociatedenterpriseNone
(4)SummaryfinancialinformationofinsignificantjointventureorassociatedenterpriseNone
(5)NotetothesignificantrestrictionsoftheabilityofjointventureorassociatedenterprisetransferfundstotheCompanyNotapplicable
(6)TheexcesslossofjointventureorassociatedenterpriseNotapplicable
(7)TheunrecognizedcommitmentrelatedtojointventureinvestmentNotapplicable
(8)ContingentliabilitiesrelatedtojointventureorassociatedenterpriseinvestmentNotapplicable
4.SignificantcommonoperationNotapplicable
5.EquityofstructureentitynotincludinginthescopeofconsolidatedfinancialstatementsNone
6.OtherNotapplicableX.RisksRelatedtoFinancialInstrumentsTheobjectiveoftheCompanyinriskmanagementistostrikeaproperbalancebetweenrisksandbenefits,andstrivetoreducetheadverseimpactoffinancialrisksontheCompany'sfinancialperformance.Basedonthisriskmanagementobjective,theCompanyhasformulatedriskmanagementpoliciestoidentifyandanalyzetherisksfacedbytheCompany,setappropriateriskacceptablelevelsanddesigncorrespondinginternalcontrolprocedurestomonitortheriskleveloftheCompany.TheCompanywillregularlyreviewtheseriskmanagementpoliciesandrelatedinternalcontrolsystemstoadapttochangesinmarketconditionsorbusiness
activitiesoftheCompany.TheinternalauditdepartmentoftheCompanyalsoregularlyorrandomlycheckswhethertheimplementationoftheinternalcontrolsystemcomplieswiththeriskmanagementpolicyThemainriskscausedbytheCompany'sfinancialinstrumentsarecreditrisk,liquidityriskandmarketrisk(includingexchangeraterisk,interestrateriskandcommoditypricerisk).TheBoardofDirectorsisresponsibleforplanningandestablishingtheCompany'sriskmanagementframework,formulatingtheCompany'sriskmanagementpoliciesandrelevantguidelines,andsupervisingtheimplementationofriskmanagementmeasures.TheCompanyhasformulatedriskmanagementpoliciestoidentifyandanalyzetherisksfacedbytheCompany.Theseriskmanagementpoliciesclearlydefinespecificrisks,coveringmanyaspectssuchasmarketrisk,creditriskandliquidityriskmanagement.TheCompanyregularlyevaluateschangesinthemarketenvironmentanditsbusinessactivitiestodecidewhethertoupdatetheriskmanagementpoliciesandsystems.TheriskmanagementoftheCompanyiscarriedoutbytheRiskManagementCommitteeinaccordancewiththepoliciesapprovedbytheBoardofDirectors.TheRiskManagementCommitteeidentifies,evaluatesandavoidsrelevantrisksthroughclosecooperationwithotherbusinessdepartmentsoftheCompany.TheinternalauditdepartmentoftheCompanyregularlyreviewstheriskmanagementcontrolandprocedures,andreportsthereviewresultstotheAuditCommitteeoftheCompany.TheCompanydispersestherisksoffinancialinstrumentsthroughappropriatediversifiedinvestmentandbusinessportfolio,andreducestherisksconcentratedinasingleindustry,aspecificregionoracertaincounterpartybyformulatingcorrespondingriskmanagementpolicies.
(1)CreditriskCreditriskreferstotheriskthatthecounterpartyfailstofulfillitscontractualobligations,resultinginfinanciallossesoftheCompany.
TheCompanymanagescreditriskaccordingtoportfolioclassification.Creditrisksmainlyarisefrombankdeposits,notesreceivable,accountsreceivableandotherreceivables.ThebankdepositsoftheCompanyaremainlydepositedinstate-ownedbanksandotherlargeandmedium-sizedlistedbanks,andsuchbankdepositsarenotexpectedtohavesignificantcreditrisks.Fornotesreceivable,accountsreceivable,otherreceivablesandlong-termreceivables,theCompanysetsrelevantpoliciestocontrolcreditriskexposure.TheCompanyevaluatescustomers'creditqualificationsbasedontheirfinancialstatus,creditrecordsandotherfactorssuchascurrentmarketconditions,andsetscorrespondingcreditperiods.TheCompanywillregularlymonitorcustomers'creditrecords.Forcustomerswithbadcreditrecords,theCompanywilladoptwrittendunning,shorteningofcreditperiodorcancellationofcreditperiodtoensurethattheoverallcreditriskoftheCompanyiswithinthecontrollablerange.
DebtorsofaccountsreceivableoftheCompanyarecustomersdistributedindifferentindustriesandregions.TheCompanycontinuouslyevaluatesthefinancialstatusofaccountsreceivableandpurchasescreditguaranteeinsurancewhenappropriate.
Themaximumcreditriskexposurethecompanyissubjecttoisthebookamountofeachfinancialassetinthebalancesheet.TheCompanyhasnotprovidedanyotherguaranteethatmayexposetheCompanytocreditrisk.
(2)Liquidityrisk
LiquidityriskreferstotheriskofshortageoffundswhentheCompanyfulfillsitsobligationtosettlebydeliveringcashorotherfinancialassets.
ThemembercompaniesoftheCompanyareresponsiblefortheirowncashmanagement,includingshort-
terminvestmentofcashsurplusandraisingloanstomeettheestimatedcashdemand(iftheloanamountexceedscertainpresetauthorizationlimits,itneedstobeapprovedbytheBoardofDirectorsoftheCompany).Inaddition,theCompanywillalsoconsidernegotiatingwithsupplierstoreducepartofthedebtamount,orobtainfundsinadvancebysellinglong-agedaccountsreceivable,soastoreducethecashflowpressureoftheCompany.TheCompany'spolicyistoregularlymonitortheshort-termandlong-termliquiditydemandandwhetheritmeetstherequirementsoftheloanagreement,soastoensurethatsufficientcashreservesandsecuritiesthatcanberealizedatanytimearemaintained,andatthesametime,toobtainsufficientreservefundsthatmajorfinancialinstitutionspromisetoprovide,soastomeettheshort-termandlong-termliquiditydemand.
(3)MarketriskMarketriskoffinancialinstrumentsreferstotheriskthatthefairvalueorfuturecashflowoffinancialinstrumentswillfluctuateduetomarketpricechanges,includinginterestraterisk,exchangerateriskandotherpricerisks.InterestrateriskInterestrateriskreferstotheriskthatthefairvalueorfuturecashflowoffinancialinstrumentswillfluctuateduetochangesinmarketinterestrates.Interestrateriskcanbecausedbyrecognizedinterest-bearingfinancialinstrumentsandunrecognizedfinancialinstruments(suchascertainloancommitments).TheCompany'sinterestrateriskmainlyarisesfromlong-termbankloans.FinancialliabilitieswithfloatinginterestrateexposetheCompanytocashflowinterestraterisk,whilefinancialliabilitieswithfixedinterestrateexposetheCompanytofairvalueinterestraterisk.
TheCompanypayscloseattentiontotheimpactofinterestratechangesonitsinterestraterisk.Atpresent,theCompanyhasnotadoptedinterestratehedgingpolicy.However,themanagementisresponsibleformonitoringinterestrateriskandwillconsiderhedgingsignificantinterestrateriskwhennecessary.Forfinancialinstrumentsheldonthebalancesheetdate,whichexposetheCompanytofairvalueinterestraterisk,theimpactofnetprofitandshareholders'equityintheabovesensitivityanalysisistheimpactofremeasuringthefinancialinstrumentsaccordingtothenewinterestrate,assumingthattheinterestratechangesonthebalancesheetdate.Forthefloatinginterestratenon-derivativeinstrumentsheldonthebalancesheetdate,whichexposetheCompanytocashflowinterestraterisk,theimpactoftheabovesensitivityanalysisonnetprofitandshareholders'equityistheimpactoftheaboveinterestratechangesontheannualestimatedinterestexpenseorincome.Lastyear'sanalysiswasbasedonthesameassumptionsandmethods.
Exchangeraterisk
Exchangerateriskreferstotheriskthatthefairvalueorfuturecashflowoffinancialinstrumentswillfluctuateduetothechangeofforeignexchangerate.Exchangerateriskcanbederivedfromfinancialinstrumentsdenominatedinforeigncurrenciesotherthanthefunctionalcurrency.
ExchangerateriskmainlyreferstotheimpactofforeignexchangeratefluctuationsonthefinancialpositionandcashflowoftheCompany.TheratioofforeigncurrencyassetsandliabilitiesheldbytheCompanytothetotalassetsandliabilitiesisnotsignificant.Therefore,theCompanybelievesthattheexchangerateriskitfacesisnotsignificant.XI.Thedisclosureofthefairvalue
1.Closingfairvalueofassetsandliabilitiescalculatedbyfairvalue
InRMB
Items | Closingfairvalue | |||
Firvaluemeasurementitems | Firvaluemeasurementitems | Firvaluemeasurementitems | Total |
atlevel1 | atlevel2 | atlevel3 | ||
I.Consistentfairvaluemeasurement | -- | -- | -- | -- |
(1)TransactionalFinancialAsset | 609,244,744.72 | 28,500,000.00 | 637,744,744.72 | |
1.Financialassetsmeasuredatfairvalueandwhosechangesareincludedinthecurrentprofitandloss | 609,244,744.72 | 609,244,744.72 | ||
2.Specifythefinancialassetsmeasuredatfairvalueandwhosechangesareincludedinthecurrentprofitandloss | 28,500,000.00 | 28,500,000.00 | ||
(2)Equityinstrumentinvestment | 28,500,000.00 | 28,500,000.00 | ||
(III)Otherequityinstrumentinvestment | 186,033,829.72 | 186,033,829.72 | ||
(VI)Receivablefinancing | 51,434,865.61 | 51,434,865.61 | ||
Totalliabilitiesmeasuredatfairvalueonanon-ongoingbasis | 609,244,744.72 | 265,968,695.33 | 875,213,440.05 | |
IIInconsistentfairvaluemeasurement | -- | -- | -- | -- |
2.Marketpricerecognitionbasisforconsistentandinconsistentfairvaluemeasurementitemsatlevel1
Quotesofthesameassetsorliabilitiesinactivemarkets(unadjusted).ThefairvalueoftheFuaoStokeheldbytheCompanyattheendoftheperiodismeasuredbasedontheclosingpriceofShenzhenStockExchangeonJune30,2022.
3.Itemsmeasuredbasedonthecontinuousoruncontinuouslevel2ndfairvalue,valuationtechniqueasused,natureofimportantparametersandquantitativeinformation
UseobservableinputvaluesotherthanthemarketquotationofassetsorliabilitiesintheLevelIdirectly(i.e.price)orindirectly(i.e.derivedfromprice).
4.Itemsmeasuredbasedonthecontinuousoruncontinuouslevel3rdfairvalue,valuationtechniqueasused,natureofimportantparametersandquantitativeinformation
Assetsorliabilitiesuseanyinputvaluethatisnotbasedonobservablemarketdata(unobservableinputvalue).
1.FinancialassetsmeasuredatfairvalueandwhosechangesareincludedintheprofitsandlossesofthecurrentperiodarebankstructureddepositsheldbytheCompany,whicharemeasuredatfairvaluebasedontheprincipalamountduetotheirshortmaturity;
2.Accountsreceivablefinancingisabankacceptancebillwithashortfacevalueandafacevalueclosetothefairvalue,whichismeasuredatthefacevalueasthefairvalue;
3.InvestmentinotherequityinstrumentsisheldbytheCompanyInvestmentinnon-tradableequityinstrumentsismainlyvaluedandmeasuredbymarketmethod,asset-basedmethodandincomemethod.Amongthem:ShenzhenJiafengTextileIndustryCo.,Ltd.andJintianIndustry(Group)Co.,Ltd.facedwithaoperating
environmentandoperatingconditionsandfinancialstatus,sotheCompanyuseszeroyuanasareasonableestimateoffairvalueformeasurement;ChangxingJunyingEquityInvestmentPartnership(LimitedPartnership)hasnosignificantchangesinitsoperatingenvironment,operatingconditionsandfinancialstatus,sotheCompanymeasurestheinvestmentcostasareasonableestimateoffairvalue.
5.Continuousthird-levelfairvaluemeasurementitems,adjustmentinformationbetweeninitialandfinalbookvaluesandsensitivityanalysisofun-observableparametersNotapplicable
6.Continuousfairvaluemeasurementitems,theconversionbetweendifferentlevelsinthecurrentperiod,thereasonsfortheconversionandthepolicyfordeterminingtheconversiontimeNotapplicable
7.ChangeofvaluationtechniqueincurredinthecurrentperiodandcauseofsuchchangeNotapplicable
8.FairvalueoffinancialassetsandfinancialliabilitiesnotmeasuredatfairvalueNotapplicable
9.OtherNoneXII.Relatedpartiesandrelated-partytransactions
1.Parentcompanyinformationoftheenterprise
Name | Registeredaddress | Nature | Registeredcapital | TheparentcompanyoftheCompany'sshareholdingratio | TheparentcompanyoftheCompany’svoteratio |
ShenzhenInvestmentHoldingsCo.,Ltd. | 18/F,InvestmentBuilding,ShennanRoad,FutianDistrict,Shenzhen | Equityinvestment,Real-estateDevelopmentandGuarantee | RMB28,009million | 46.21% | 46.21% |
Notetotheparentcompany:
Thecompanyisauthorizedandapprovedtobestate-ownedindependentcompanybyShenzhenGovernment,anditExecutesfinancialcontributorfunctiononstate-ownedenterprisewithinauthorizationscope.Therefore,theCompany’sultimatecontrollerisShenzhenInvestmentHoldingsCo.,Ltd.
Othernote:None
2.SubsidiariesoftheCompany
DetailsrefertotheNoteIX-1,Interestinthesubsidiary
3.InformationonthejointventuresandassociatedenterprisesoftheCompany
DetailsrefertotheNoteIX-3,InterestsinjointventuresorassociatesInformationonotherjointventureandassociatedenterpriseofoccurringrelatedpartytransactionswiththeCompanyinreportingperiod,orformbalanceduetorelatedpartytransactionsinpreviousperiod:
NoneOthernote:None
4.OtherRelatedpartiesinformation
Otherrelatedparty | RelationshiptotheCompany |
SuzhouAdvantageFordInvestmentCenter(Limitedpartnership) | ThecontrollingpartyofSAPOShareholder |
Shengto(HK)Co.,Ltd. | TheCompanyExecutivesareDirectorofthecompany |
HengmeiPhotoelectricCo.,Ltd. | SharingCompanyofSuzhouAdvantageFordInvestmentCenter(Limitedpartnership) |
ShenzhenXinfangKnittingCo.,Ltd. | SharingCompany |
ShenzhenDailishiUnderwearCo.,Ltd. | SharingCompany |
Othernote:None
5.Relatedtransactions.(
)RelatedtransactionsonpurchasinggoodsandreceivingservicesAcquisitionofgoodsandreceptionoflaborserviceNoneRelatedtransactionsonsalegoodsandreceivingservicesNone
(2)Relatedtrusteeship/contractNotapplicable
(3)InformationofrelatedleaseNotapplicable
(4)Related-partyguaranteeRelatedguarantee
InRMB
Guaranteedparty | Amount | Guaranteestartdate | Guaranteeenddate | Whethertheguaranteehasbeenfulfilled |
SAPOPhotoelectric | 436,470,600.00 | September8,2020 | No |
TheCompanyisthesecuredpartyNotapplicable
(5)Inter-banklendingofcapitalofrelatedparties:
InRMB
Relatedparty | Amount | Startdate | Expiringdate | Note |
Borrowingfund: | ||||
ShenzhenGuanhuaPrinting&DyeingCo.,Ltd. | 3,806,454.17 | July30,2020 | July30,2022 | Theannuallendinginterestrateis0.30% |
Loaned |
(6)RelatedpartyassettransferanddebtrestructuringNone
(7)Rewardsforthekeymanagementpersonnel
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Rewardsforthekeymanagementpersonnel | 3,523,165.00 | 2,512,499.00 |
(8)OtherrelatedtransactionsNone
6.Receivablesandpayablesofrelatedparties
(1)ReceivablesNone
(2)Payables
InRMB
Name | Relatedparty | Amountatyearend | Amountatyearbeginning |
Accountpayable | HengmeiPhotoelectricCo.,Ltd. | 168,423.60 | 170,977.53 |
Otherpayable | ShenzhenXinfangKnittingCo.,Ltd. | 244,789.85 | 244,789.85 |
Otherpayable | ShenzhenChanglianfaPrinting&dyeingCo.,Ltd. | 2,061,699.95 | 2,023,699.95 |
Otherpayable | YehuiInternationalCo.,Ltd. | 1,124,656.60 | 1,124,656.60 |
Otherpayable | Shengtou(Hongkong)Co.,Ltd. | 315,000.00 | 315,000.00 |
Otherpayable | ShenzhenGuanhuaPrinting&dyeingCo.,Ltd. | 3,768,454.17 | 3,806,454.17 |
7.RelatedpartycommitmentNone
8.OtherNone
XIII.Sharepayment
1.Overallsituationofsharepayment
□Applicable√Notapplicable
2.Equity-settledshare-basedpayment
□Applicable√Notapplicable
3.TheStockpaymentsettledbycash
□Applicable√Notapplicable
4.ModificationandterminationofthestockpaymentNone
5.OtherNoneXIV.Commitments
1.SignificantcommitmentsSignificantcommitmentsatbalancesheetdateAsofJune30,2022,Thecompanydoesnotdisclosethepensionplanundisclosedmattershouldexist.
2.Contingency
(1)SignificantcontingencyatbalancesheetdateShenzhenSAPOPhotoelectricTechnologyCo.,Ltd.(hereinafterreferredtoas"SAPOPhotoelectric"),aholdingsubsidiaryoftheCompany,wassuedbyHangzhouJinhangEquityInvestmentFundPartnership(LimitedPartnership),anothershareholderofSAPOPhotoelectric,fordissolution,inwhichtheCompanyisthethirdparty.ThecourtheardthecaseonJuly15,2022,andasofJuly31,2022,nojudgmenthadbeenmade.Asthefinaljudgmentofthecourtisuncertain,itsimpactontheCompany'scurrentandfutureprofitscannotbeestimatedtemporarily.ManagerofShenzhenShenbaoTextileIndustryandTradeCo.,Ltd.v.TheCompany,ShenzhenYuanxingchangIndustrialCo.,Ltd.andSuXingbinforLiquidationLiabilityDispute,involvinganamountofRMB2,567,500.ThecourtheldthefirstinstancehearingonMay27,2022andJune30,2022,andhasnotyetmadeajudgment.Asthefinaljudgmentofthecourtisuncertain,itsimpactontheCompany'scurrentandfutureprofitscannotbeestimatedtemporarily.
(2)TheCompanyhavenosignificantcontingencytodisclose,alsoshouldbestatedNone
3.OtherNoneXV.Eventsafterbalancesheetdate
1.SignificanteventshadnotadjustedNone
2.Profitdistribution
InRMB
Profitsordividendstobedistributed | 0.00 |
Profitsordividendsdeclaredafterdeliberationandapproval | 0.00 |
Profitdistributionscheme | No |
3.SalesreturnNone
4.NotesofothersignificanteventsAsofDecember31,2022,Thecompanydoesnotdisclosethepensionplanundisclosedmattershouldexist.XVI.Othersignificantevents
1.Correctionoftheaccountingerrorsinthepreviousperiod
(1)RetroactiverestatementNone
(2)ProspectiveapplicationNone
2.LiabilitiesrestructuringNotapplicable
3.Replacementofassets
(1)Non-monetaryassetsexchangeNotapplicable
(2)OtherassetsexchangeNone
4.PensionplanNotapplicable
5.DiscontinuingoperationNotapplicable
6.Segmentinformation
(1)BasisfordeterminingthereportingsegmentsandaccountingpolicyTheCompanydeterminesitsoperatingdivisionsbasedonitsinternalorganizationalstructure,managementrequirementsandinternalreportingsystem.Basedontheoperatingdivisions,theCompanyconfirmsthreereportingdivisions,namelytextiles,polarizer,tradeandpropertyleasing.Divisionalreportinginformationisdisclosedinaccordancewiththeaccountingpoliciesandmeasurementstandardsadoptedbyeachdivisionwhenreportingtothemanagement.Thesemeasurementbasisareconsistentwiththeaccountingandmeasurementbasisforfinancialstatementpreparation.
(2)Financialinformationofthereportdivision
InRMB
Items | Polarizer | Textile | Propertyleaseandother | Offsetbetweendivisions | Total |
Operatingincome | 1,369,146,600.89 | 55,921,761.91 | 22,590,934.54 | -2,521,988.25 | 1,445,137,309.09 |
Including:revenuefromforeigntransaction | 1,369,146,600.89 | 53,551,733.84 | 22,438,974.37 | 1,445,137,309.09 | |
Revenuefrominter-segmenttransactions | 2,370,028.07 | 151,960.18 | -2,521,988.25 | 0.00 | |
Including:revenuefrommainbusiness | 1,369,146,600.89 | 55,921,761.91 | 22,590,934.54 | -2,521,988.25 | 1,445,137,309.09 |
Operatingcost | 1,204,852,305.21 | 16,133,387.77 | 24,467,674.70 | -2,465,273.62 | 1,242,988,094.06 |
Including:mainbusinesscost | 1,204,852,305.21 | 16,133,387.77 | 24,467,674.70 | -2,465,273.62 | 1,242,988,094.06 |
Operatingprofit | 67,615,441.44 | 5,407,324.74 | -4,416,615.83 | 284,433.59 | 68,890,583.93 |
Totalassets | 4,406,374,553.43 | 3,244,708,029.98 | 50,663,794.27 | -2,011,137,040.65 | 5,690,609,337.02 |
Totalindebtedness | 1,474,973,931.58 | 218,686,189.25 | 36,832,679.61 | -48,567,084.93 | 1,681,925,715.51 |
(3)Incasethereisnoreportingsegmentorthetotalassetsandliabilitiesofthereportingsegmentscannotbedisclosed,explainthereasonNone
(4)Othernote
None
7.Othersignificanttransactionsandmattersthatmayaffectinvestors'decisionmakingNone
8.OtherNone
XVII.NotesofmainitemsinthefinancialstatementsoftheParentCompany
1.Accountsreceivable
(1)Accountsreceivableclassifiedbycategory
InRMB
Category | Amountinyear-end | Amountinyear-beginning | ||||||||
Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
Including: | ||||||||||
Accrualofbaddebtprovisionbyportfolio | 11,466,148.15 | 100.00% | 553,832.48 | 4.83% | 10,912,315.67 | 8,353,590.78 | 100.00% | 417,679.54 | 5.00% | 7,935,911.24 |
Including: | ||||||||||
Total | 11,466,148.15 | 100.00% | 553,832.48 | 4.83% | 10,912,315.67 | 8,353,590.78 | 100.00% | 417,679.54 | 5.00% | 7,935,911.24 |
Accrualofbaddebtprovisionbyportfolio:553,832.48Relevantinformationoftheprovisionforbaddebtswillbedisclosedwithreferencetothedisclosuremethodofotherreceivablesiftheprovisionforbaddebtsofbillsreceivableisaccruedaccordingtothegeneralmodelofexpectedcreditloss:
□Applicable√NotapplicableDisclosurebyaging
InRMB
Aging | Closingbalance |
Within1year(Including1year) | 11,466,148.15 |
Total | 11,466,148.15 |
(2)Accountsreceivablewithdraw,reversedorcollectedduringthereportingperiodThewithdrawalamountofthebaddebtprovision:
InRMB
Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalanc | |||
Accrual | Reversedorcollectedamount | Write-off | Other | |||
Accrualofbaddebtprovisionbyportfolio: | 417,679.54 | 136,152.94 | 553,832.48 | |||
Total | 417,679.54 | 136,152.94 | 553,832.48 |
Wherethesignificantamountofthereserveforbaddebtrecoveredorreversed:None
(3)Theactualwrite-offaccountsreceivableNone
(4)Top5oftheclosingbalanceoftheaccountsreceivablecollectedaccordingtothearrearsparty
InRMB
Name | Closingbalance | Proportion% | BalanceofBaddebtprovision |
ShenfangBuildingandPeripheralrent | 11,466,148.15 | 100.00% | 553,832.48 |
Total | 11,466,148.15 | 100.00% |
(5)AccountreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassetsNone
(6)TheamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementofaccountsreceivableNone
2.Otheraccountsreceivable
InRMB
Items | Closingbalance | Openingbalance |
Otheraccountsreceivable | 12,952,469.33 | 14,383,631.68 |
Total | 12,952,469.33 | 14,383,631.68 |
(1)Interestreceivable
1)CategoryofinterestreceivableNone
2)SignificantoverdueinterestNone3)Bad-debtprovision
√Applicable□Notapplicable
InRMB
Baddebtprovision | Stage1 | Stage2 | Stage3 | Total |
Expectedcreditlossesoverthenext12months | Expectedcreditlossoverlife(nocreditimpairment) | Expectedcreditlossesfortheentireduration(creditimpairmentoccurred) | ||
BalanceasatJanuary1,2022 | 1,387,764.39 | 15,111,246.32 | 16,499,010.71 | |
BalanceasatJanuary1,2022incurrent | ||||
Provisioninthecurrentperiod | -30,000.00 | -30,000.00 | ||
BalanceasatJune30,2021 | 1,357,764.39 | 0.00 | 15,111,246.32 | 16,469,010.71 |
Lossprovisionchangesincurrentperiod,changeinbookbalancewithsignificantamount
□Applicable√Notapplicable
(2)Dividendreceivable
1)CategoryofDividendreceivable
None
2)Significantdividendsreceivablewithageexceeding1year
None
3)Provisionforbaddebts
□Applicable√Notapplicable
(3)Otheraccountsreceivable
1)Otheraccountsreceivableclassifiedbythenatureofaccounts
InRMB
Nature | Closingbookbalance | Openingbookbalance |
Deposit | 10,000.00 | 10,000.00 |
Unitaccount | 15,269,395.10 | 16,379,395.10 |
Internalcurrentaccount | 13,561,884.93 | 14,475,600.00 |
Sparefundsandemployeeborrowing | 55,000.00 | 0.00 |
Other | 25,200.01 | 27,647.29 |
Total | 28,921,480.04 | 30,892,642.39 |
)Bad-debtprovision
InRMB
BadDebtReserves | Stage1 | Stage2 | Stage3 | Total |
Expectedcreditlossesoverthenext12months | Expectedcreditlossoverlife(nocreditimpairment) | Expectedcreditlossesfortheentireduration(creditimpairmentoccurred) | ||
BalanceasatJanuary1,2022 | 1,387,764.39 | 0.00 | 15,111,246.32 | 16,499,010.71 |
BalanceasatJanuary1,2022incurrent | ||||
Currentperiodreversal | 30,000.00 | 30,000.00 | ||
BalanceasatJune30,2021 | 1,357,764.39 | 0.00 | 15,111,246.32 | 16,469,010.71 |
Lossprovisionchangesincurrentperiod,changeinbookbalancewithsignificantamount
□Applicable√NotapplicableDisclosurebyaging
InRMB
Aging | Closingbalance |
Within1year(Including1year) | 55,000.00 |
1-2years | 4,986,284.93 |
2-3years | 1,018,295.37 |
Over3years | 22,861,899.74 |
3-4years | 3,500,000.00 |
4-5years | 19,361,899.74 |
Over5years | 28,921,480.04 |
Total |
3)Accountsreceivablewithdraw,reversedorcollectedduringthereportingperiodThewithdrawalamountofthebaddebtprovision:
InRMB
Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance | |||
Accrual | Reversedorcollectedamount | Write-off | Other | |||
Baddebtsarewithdrawnaccordingtotheagingportfoli | 1,387,764.39 | 30,000.00 | 1,357,764.39 | |||
Accrualofbaddebtprovisionbysingleitem | 15,111,246.32 | 15,111,246.32 | ||||
Total | 16,499,010.71 | 30,000.00 | 16,469,010.71 |
Wherethesignificantamountoftheprovisionforbaddebtrecoveredorreversed:None
4)AccountsreceivableactuallywrittenoffinthereportingperiodNone
(5)Top5oftheclosingbalanceoftheotheraccountsreceivablecollectedaccordingtothearrearsparty
InRMB
Companyname | natureofpayment | closingbalanc | Aging | Proportionintotalclosingbalanceofotherreceivables | Endingbalanceofbaddebtprovision |
1st | Internalcurrentaccount | 13,561,884.93 | 1-5years | 46.89% | 1,242,680.00 |
2nd | Companycurrentaccount | 11,389,044.60 | Morethan5years | 39.38% | 11,389,044.60 |
3rd | Companycurrentaccount | 1,800,000.00 | Morethan5years | 6.22% | 1,800,000.00 |
4th | Companycurrentaccount | 1,018,295.37 | 2-3years | 3.52% | 1,018,295.37 |
5th | Companycurrentaccount | 592,420.00 | Morethan5years | 2.05% | 592,420.00 |
合计 | 28,361,644.90 | 98.06% | 16,042,439.97 |
(6)AccountsreceivableinvolvedwithgovernmentsubsidiesNone
(7)OtheraccountreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassetsNone
(8)TheamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementofotheraccountsreceivableNone
3.Long-termequityinvestment
InRMB
Items | Closingbalance | Openingbalance |
Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
Investmentsinsubsidiaries | 1,972,630,835.39 | 16,582,629.30 | 1,956,048,206.09 | 1,972,630,835.39 | 16,582,629.30 | 1,956,048,206.09 |
Investmentsinassociatesandjointventures | 134,756,614.83 | 134,756,614.83 | 133,022,325.77 | 133,022,325.77 | ||
Total | 2,107,387,450.22 | 16,582,629.30 | 2,090,804,820.92 | 2,105,653,161.16 | 16,582,629.30 | 2,089,070,531.86 |
(1)Investmenttothesubsidiary
InRMB
Name | Openingbalance | Increase/decreaseinreportingperiod | Closingbalance | Closingbalanceofimpairmentprovision | |||
Addinvestment | Decreasedinvestment | Withdrawnimpairmentprovision | Other | ||||
SAPOPhotoelectric | 1,910,247,781.94 | 1,910,247,781.94 | 14,415,288.09 | ||||
ShenzhenLisiIndustrialDevelopmentCo.,Ltd. | 8,073,388.25 | 8,073,388.25 | |||||
ShenzhenBeautyCentrutyGarmentCo.,Ltd. | 14,696,874.34 | 14,696,874.34 | 2,167,341.21 | ||||
ShenzhenHuaqiangHotal | 15,489,351.08 | 15,489,351.08 | |||||
ShenfangPropertyManagementCo.,Ltd. | 1,713,186.55 | 1,713,186.55 | |||||
ShenfangSungangPropertyManagementCo.,Ltd. | 5,827,623.93 | 5,827,623.93 | |||||
Total | 1,956,048,206.09 | 1,956,048,206.09 | 16,582,629.30 |
(2)Investmenttojointventuresandassociatedenterprises
InRMB
Name | Openingbalance | Increase/decreaseinreportingperiod | Closingbalance | Closingbalanceofimpairmentprovision | |||||||
Addinvestment | Decreasedinvestment | Gain/lossofInvestment | Adjustmentofothercomprehensiveincome | Otherequitychanges | Declarationofcashdividendsorprofit | Withdrawnimpairmentprovision | Other | ||||
I.Jointventures | |||||||||||
ShenzhenGuanhuaPrinting&DyeingCo.,Ltd. | 128,214,225.54 | 1.00 | 1,312,916.11 | 129,527,142.65 | 0.00 | ||||||
Subtotal | 128,214,225.54 | 1.00 | 1,312,916.11 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 129,527,142.65 | 0.00 | |
II.Associatedenterprises | |||||||||||
Shenzhen | 2,972,2 | 404,580 | 3,376,7 |
ChanglianfaPrintinganddyeingCompany | 02.97 | .26 | 83.23 | ||||||||
JordanGarnentFactory | 0.00 | -954.76 | -954.76 | ||||||||
YehuiInternationalCo.,Ltd. | 1,835,897.26 | -38,805.01 | 76,710.78 | 1,853,643.71 | |||||||
Subtotal | 4,808,100.23 | 0.00 | 0.00 | 365,775.25 | 75,756.02 | 0.00 | 0.00 | 0.00 | 0.00 | 5,229,472.18 | 0.00 |
Total | 133,022,325.77 | 1,658,532.04 | 75,756.02 | 134,756,614.83 |
(3)OthernoteNone
4.BusinessincomeandBusinesscost
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod | ||
Businessincome | Businesscost | Businessincome | Businesscost | |
IncomefromMainBusiness | 19,836,395.33 | 3,883,135.15 | 36,457,754.34 | 3,657,570.58 |
OtherBusinessincome | 1,320,274.42 | 1,320,274.42 | 1,688,908.01 | 1,688,908.01 |
Total | 21,156,669.75 | 5,203,409.57 | 38,146,662.35 | 5,346,478.59 |
Income-relatedinformation:
InRMB
Type | Division1 | Division2 | Total | |
Typesofgoods | 19,836,395.33 | 1,320,274.42 | 21,156,669.75 | |
Including | ||||
Propertyleasemanagementandothers | 19,836,395.33 | 19,836,395.33 | ||
Sellelectriccharge | 1,320,274.42 | 1,320,274.42 | ||
Area | 21,156,669.75 | 21,156,669.75 | ||
Including: | ||||
Shenzhen | 21,156,669.75 | 21,156,669.75 | ||
Market | ||||
Including: |
Contract
Contract |
Including: |
Time
Time |
Including: |
Term
Including:
Salechannel
Salechannel |
Including: |
Total
Informationrelatedtoperformanceobligations:NoneInformationrelatedtothetransactionpriceapportionedtotheresidualperformanceobligation:
Attheendofthereportingperiod,theincomeamountcorrespondingtotheperformanceobligationsthathavebeensignedbutnotfulfilledorcompletedis0.00yuan.Amongthem,RMB0.00isexpectedtoberecognizedasrevenuein0year,RMB0.00isexpectedtoberecognizedasrevenuein0year,andRMB0.00isexpectedtoberecognizedasrevenuein0year.Othernote:
Note
5.Investmentincome
InRMB
TotalItems
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Long-termequityinvestmentreturnsaccountedforbyequitymethod | 1,658,532.04 | -412,713.12 |
Investmentincomefromthedisposaloflong-termequityinvestment | 20,779.93 | |
Investmentincomeoftradingfinancialassetsduringtheholdingperiod | 8,967,680.80 | 8,410,570.66 |
Dividendincomeearnedduringinvestmentholdingsinotherequityinstruments | 708,000.00 | 1,122,007.80 |
Total | 11,334,212.84 | 9,140,645.27 |
6.OtherNoneXVIII.Supplementinformation
1.Particularsaboutcurrentnon-recurringgainsandloss
√Applicable□Notapplicable
InRMB
Items | Amount | Notes |
Non-currentassetdisposalgain/loss | -11,114.72 | |
Govemmentsubsidyrecognizedincurrentgainandloss(excludingthosecloselyrelatedtotheCompany’sbusinessandgrantedunderthestate’spolicies) | 10,780,654.48 | Otherbenefitsofgovernmentsubsidiesthatareconfirmedrelatedtothemainbusiness. |
Othernon-businessincomeandexpendituresotherthantheabove | 1,555,024.76 | Itismainlyduetothecompensationforlosses. |
Less:Influencedamountofincometax | 113,018.21 | |
Influencedamountofminorshareholders’equity(aftertax) | 4,748,996.68 | |
Total | 7,462,549.63 | -- |
Detailsofotherprofitandlossitemsthatmeetthenon-recurringprofitandlossdefinition
□Applicable√Notapplicable
ExplainthereasonsiftheCompanyclassifiesanitemasanextraordinarygain/lossaccordingtothedefinitionintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic-ExtraordinaryGainsandLosses,orclassifiesanyextraordinarygain/lossitemmentionedinthesaidexplanatoryannouncementasarecurrentgain/lossitem.
□Applicable√Notapplicable
2.Returnonnetassetandearningspershare
Profitofreportperiod | Weightedaveragereturnsequity(%) | Earningspershare | |
Basicearningspershare(RMB/share) | Dilutedearningspershare(RMB/share) | ||
NetprofitattributabletotheCommonstockshareholdersofCompany. | 1.50% | 0.0838 | 0.0838 |
NetprofitattributabletotheCommonstockshareholdersofCompanyafterdeductingofnon-recurringgain/loss. | 1.24% | 0.0691 | 0.0691 |
3.Differencesbetweenaccountingdataunderdomesticandoverseasaccountingstandards
(1)SimultaneouslypursuanttobothChineseaccountingstandardsandinternationalaccountingstandardsdisclosedinthefinancialreportsofdifferencesinnetincomeandnetassets.
□Applicable□√Notapplicable
(2)DifferencesofnetprofitandnetassetsdisclosedinfinancialreportspreparedunderoverseasandChineseaccountingstandards.
□Applicable□√Notapplicable
(3)Explanationofthereasonsforthedifferencesinaccountingdataunderdomesticandforeignaccountingstandards.Ifthedatathathasbeenauditedbyanoverseasauditinstitutionisadjustedfordifferences,thenameoftheoverseasinstitutionshouldbeindicatedNone
4.OtherNone
TheBoardofDirectorsofShenzhenTextile(Holdings)Co.,Ltd.
August25,2022