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