OFFCNEDUCATIONTECHNOLOGYCO.,LTD.
2021Semi-AnnualReport
StockCode:002607StockAbbr.:OFFCNEDU
August,2021
Chapter1ImportantNotes,ContentsandDefinitions
TheCompany’sBoardofDirectors,SupervisoryCommittee,directors,supervisors,andseniormanagementherebyguaranteethatthecontentsoftheannualreportaretrue,accurate,andcomplete,andthattherearenomisrepresentations,misleadingstatements,ormaterialomissions,andshallassumeindividualandjointlegalliabilities.WangZhendong,theCompany’slegalrepresentative,ShiLei,headinchargeofaccountingandLuoXue,headoftheaccountingdepartment(Accountingsupervisor),declarethattheywarrantthetruthfulness,accuracyandcompletenessofthefinancialreportintheannualreport.Alldirectorsattendedtheboardmeetingforreviewingthisreport.Theforward-lookingstatementsonfutureplansanddevelopmentstrategiesinvolvedinthisreportdonotconstituteasubstantialcommitmenttoinvestors.ThepossibleriskshavebeendetailedinChapter3“ManagementDiscussionandAnalysis”ofthisreport.Pleasepayattentiontothepotentialinvestmentrisks.TheCompanyplansnottodistributecashdividends,bonusshares,nortoincreasesharecapitalbyconvertingcapitalreserve.TheCompany’s2021Semi-AnnualReportispreparedandpublishedinChineseversion,andtheEnglishversionisforreferenceonly.ShouldtherebeanyinconsistencybetweentheChineseversionandEnglishversion,theChineseversionshallprevail.
Contents
Chapter1ImportantNotes,ContentsandDefinitions ...... 2
Chapter2CorporateProfile&KeyFinancialIndicators ...... 7
Chapter3ManagementDiscussionandAnalysis ...... 10
Chapter4CorporateGovernance ...... 30
Chapter5Environmentalandsocialresponsibilities ...... 31
Chapter6SignificantEvents ...... 32
Chapter7ShareChangesandShareholders ...... 54
Chapter8PreferredShares ...... 60
Chapter9CorporateBonds ...... 61
Chapter10FinancialStatements ...... 62
DocumentsAvailableforReference
I.Thefulltextof2021Semi-AnnualReportsignedbyWangZhendong,theCompany’slegalrepresentative.II.ThefinancialstatementsignedandsealedbythelegalrepresentativeoftheCompany,thepersoninchargeofaccountingworkandthepersoninchargeofaccountingdepartment(accountingsupervisor).III.TheoriginalcopiesofallthedocumentsoftheCompanywhichhavebeendisclosedinnewspapersdesignatedbytheChinaSecuritiesRegulatoryCommissionduringthereportingperiod.IV.Otherrelevantdocuments.Theplacewheretheabove-mentioneddocumentsaremaintained:theofficeoftheCompany’sSecretaryoftheBoardofDirectors.
Definitions
| Term(s) | Definition |
| ThelistedCompany,TheCompany,OffcnEdu | OffcnEducationTechnologyCo.,Ltd. |
| TheCounterparty,LiYongxinandother10Counterparties,AllShareholdersofOffcnLtd. | LuZhongfang,LiYongxin,WangZhendong,AerospaceIndustry,GuangyinVenture,KeruiTechnologyInnovation,GuoShihong,LiuBin,ZhangYongsheng,YangShaofeng,ZhangZhi’an |
| Thismajorassetsrestructuring,Thistransaction,Thisrestructuring | Baseontheassessment,YaxiaAutotakesallassetsandliabilitiesotherthanretainedassetsastheexchange-outassetstoswaptheequivalentportionof100%equityofOffcnwhichheldbyLiYongxinandother10counterparties,andtheswappingdeficiencyissettledbyissuanceofYaxiaAutosharesaccordingtotheproportionofshareholding.Atthesametime,YaxiaIndustrialtransfers80,000,000and72,696,561YaxiaAutosharestoOffcnPartnershipandLiYongxinrespectively.AllshareholdersofOffcnentrustYaxiaAutotodirectlydelivertheexchange-outassetstoYaxiaIndustrialoritsdesignatedthirdpartyastheconsiderationforthetransferof80,000,000sharestoOffcnPartnership,andLiYongxinoffersRMB1billionincashastheconsiderationforthetransferof72,696,561shares. |
| AerospaceIndustry | BeijingAerospaceIndustryInvestmentFund(LimitedPartnership) |
| GuangyinVenture | BeijingGuangyinVentureCapitalCenter(LimitedPartnership) |
| KeruiTechnologyInnovation | BeijingKeruiTechnologyInnovationInvestmentCenter(LimitedPartnership) |
| OffcnPartnership | BeijingOffcnFutureInformationConsultingCenter(LimitedPartnership),establishedbyallshareholdersofOffcnLtd.inaccordancewiththeshareholdingsratio,whichisusedtoundertake80,000,000sharesofthelistedCompanytransferredbyYaxiaIndustrial. |
| OffcnOnline | BeijingOffcnOnlineEducationTechnologyCo.,Ltd. |
| PerformanceCompensationObligor,PerformanceCommitmentPerson | LuZhongfang,LiYongxin,WangZhendong,GuoShihong,LiuBin,ZhangYongsheng,YangShaofeng,ZhangZhi’an |
| YaxiaIndustrial | AnhuiYaxiaIndustrialCo.,Ltd.（theoriginalcontrollingshareholderofthelistedCompany） |
| Committednetprofit | Committednetprofitattributabletoshareholdersoftheparentcompanyafterdeductingnon-recurringprofitsandlossesundertheconsolidatedstatementofanyofthethreefiscalyearsofOffcnEdu. |
| Actualnetprofits | Theactualnetprofitsattributabletoshareholdersoftheparentcompanyafterdeductingnon-recurringprofitsandlossesundertheconsolidatedstatementsofanyofthethreefiscalyearsofOffcnEdu. |
| Netprofitsafterdeductingnon-recurringprofitsandlosses | Thenetprofitsattributabletotheowneroftheparentcompanyafterdeductingnon-recurringprofitsandlossesundertheconsolidatedstatement. |
| OffcnLtd.PredecessorofBeijingOffcnBeijingOffcn | BeijingOffcnEducationTechnologyCo.,Ltd.(predecessor:BeijingOffcnEducationTechnologyStockCo.,Ltd.) |
| Term(s) | Definition |
| ProfitForecastCompensationAgreement | ProfitForecastCompensationAgreementsignedbyYaxiaAutoandLuZhongfang,LiYongxin,WangZhendong,GuoShihong,LiuBin,ZhangYongsheng,YangShaofeng,ZhangZhi’an. |
| CSRC | ChinaSecuritiesRegulatoryCommission |
| CompanyLaw | CompanyLawofthePeople’sRepublicofChina |
| SecuritiesLaw | SecuritiesLawofthePeople’sRepublicofChina |
| ArticlesofCorporation | ArticlesofCorporationofOffcnEducationTechnologyCo.,Ltd. |
| Yuan,10thousandyuan,100millionyuan | RMByuan,RMB10thousandyuan,RMB100millionyuan |
| TheNewleaseStandard | TheAccountingStandardsforBusinessEnterprisesNo.21—LeaseissuedbytheMinistryofFinancein2018 |
Chapter2CorporateProfile&KeyFinancialIndicators
SectionI.Corporateprofile
| StockAbbreviation | OFFCNEDU | StockCode | 002607 |
| ChangedStockAbbreviation(ifany) | / | ||
| ListedStockExchange | ShenzhenStockExchange | ||
| ChineseNameoftheCompany | 中公教育科技股份有限公司 | ||
| ChineseNameAbbreviationoftheCompany | 中公教育 | ||
| EnglishNameoftheCompany(ifany) | OffcnEducationTechnologyCo.,Ltd. | ||
| EnglishNameAbbreviationoftheCompany(ifany) | OFFCNEDU | ||
| LegalRepresentativeoftheCompany | WangZhendong | ||
SectionII.Contactinformation
| BoardSecretary | SecuritiesAffairsRepresentative | |
| Name | GuiHongzhi | GuPan |
| Address | BlockB,HanhuaCenturyMansion,No.23XueqingRoad,HaidianDistrict,Beijing,China | BlockB,HanhuaCenturyMansion,No.23XueqingRoad,HaidianDistrict,Beijing,China |
| Tel. | 010-83433677 | 010-83433677 |
| Fax | 010-83433666 | 010-83433666 |
| ir@offcn.com | ir@offcn.com |
SectionIII.Otherinformation
1.CompanycontactinformationWhethertheCompany’sregisteredaddress,officeaddressanditspostalcode,websiteand/oremailaddresschangedduringthereportingperiod
□Applicable√NotapplicableTheCompany’sregisteredaddress,officeaddressanditspostalcode,websiteandemailaddressremainthesameduringthisreportingperiod.Detailscanbefoundin2020AnnualReport.
2.LocationofinformationdisclosureandstorageWhetherlocationofinformationdisclosureandstoragechangedduringthereportingperiod
□Applicable√NotapplicableThenewspaperdesignatedbytheCompanyforinformationdisclosure,websitedesignatedbyCSRCforsemi-annualreportpublishing,andstoragelocationofthissemi-annualreportremainthesameduringthe
reportingperiod.Detailscanbefoundin2020AnnualReport.SectionIV.KeyaccountinginformationandfinancialindicatorsDoestheCompanyneedtoadjustitsfinancialinformationretrospectivelyorrestateitsaccountinginformationofpreviousyear?
□Yes√No
| Currentreportingperiod | Sameperiodofthepreviousyear | Increase/decreaseincurrentreportingperiodoversameperiodofthepreviousyear | |
| Revenue(RMB) | 4,855,998,263.50 | 2,807,980,480.60 | 72.94% |
| NetprofitattributabletoshareholdersofthelistedCompany(RMB) | -97,162,509.03 | -233,026,645.16 | 58.30% |
| NetprofitattributabletoshareholdersofthelistedCompanyafterdeductingnon-recurringgainsorlosses(RMB) | -169,905,023.78 | -367,542,382.83 | 53.77% |
| Netcashflowfromoperatingactivities(RMB) | -939,091,457.95 | 4,063,675,504.19 | -123.11% |
| Basicearningspershare(RMB/share) | -0.02 | -0.04 | 50.00% |
| Dilutedearningspershare(RMB/share) | -0.02 | -0.04 | 50.00% |
| Weightedaveragereturnonassets | -2.30% | -9.00% | 6.70% |
| Endofcurrentreportingperiod | Endofthepreviousyear | Increase/decreaseattheendofthisreportingperiodoverendofthepreviousyear | |
| Totalassets(RMB) | 14,170,766,300.30 | 14,418,850,027.27 | -1.72% |
| TotalnetassetsattributabletoshareholdersofthelistedCompany(RMB) | 4,177,965,284.17 | 4,275,127,793.20 | -2.27% |
SectionV.Differencesofaccountingdataunderdomesticandoverseasaccountingstandards
1.DifferencesbetweennetprofitsandnetassetsdisclosedinthefinancialreportsunderChineseaccountingstandardsandinternationalaccountingstandards:
□Applicable√NotapplicableThereisnodifferencebetweenthenetprofitsandnetassetsdisclosedinthefinancialreportsoftheCompanyunderChineseaccountingstandardsandinternationalaccountingstandardsduringthereportingperiod.
2.DifferencesbetweennetprofitsandnetassetsdisclosedinthefinancialreportsunderChineseaccountingstandardsandoverseasaccountingstandards:
□Applicable√Notapplicable
ThereisnodifferencebetweenthenetprofitsandnetassetsdisclosedinfinancialreportsoftheCompanyunderChineseaccountingstandardsandoverseasaccountingstandardsduringthereportingperiod.SectionVI.Itemswithnon-recurringgainsorlossesandtheamounts
√ApplicableNotapplicable
Unit:RMB
| Items | Amount | Note |
| Disposalgainsorlossesofnon-currentassets(includingtheoffsetpartoftheprovisionforassetimpairment) | -168,828.03 | |
| Governmentsubsidiesincludedinthecurrentgainsandlosses(closelyrelatedtothebusinessoftheenterprise,exceptforgovernmentsubsidiesthatarefixedorquantifiedinaccordancewithnationalunifiedstandards) | 1,430,028.70 | |
| Gainsorlossesfromentrustingotherstoinvestormanageassets | 28,910,968.77 | |
| Gainsandlossesonchangesinfairvaluearisingfromthepossessionoftransactionalfinancialassets,derivativefinancialassets,transactionalfinancialliabilities,andderivativefinancialliabilities;andtheinvestmentincomefromthedisposaloftransactionalfinancialassets,derivativefinancialassets,transactionalfinancialliabilities,derivativefinancialliabilitiesandotherdebtinvestmentsexcepttheeffectivehedgingbusinessrelatedtotheCompany’snormalbusinessoperations. | 9,068,865.15 | |
| Othernon-operatingincomeandexpensesexceptfortheitemsabove | -311,355.41 | |
| Othergainsorlossesitemsthatmeetthedefinitionofnon-recurringgainsandlosses | 45,101,048.40 | |
| Less:Impactonincometax | 11,288,212.83 | |
| Total | 72,742,514.75 | -- |
Provideexplanationsforclassifyingitemsofnon-recurringgainsandlossesdefinedorlistedintheExplanatoryAnnouncementNo.1forPublicCompanyInformationDisclosures–Non-recurringGainsandLossesasitemsofrecurringgainsandlosses.
□Applicable√NotapplicableTheCompanydoesnotclassifyanynon-recurringgainsandlossesitemsthataredefinedorlistedintheExplanatoryAnnouncementNo.1forPublicCompanyInformationDisclosures–Non-recurringGainsandLossesasitemsofrecurringgainsandlossesduringthereportingperiod.
Chapter3ManagementDiscussionandAnalysis
SectionI.TheCompany’smainbusinessduringthereportingperiod
1.Themainbusiness,productsandbusinessmodeloftheCompanyduringthereportingperiodOffcnEduisaleadingfull-categoryvocationaleducationinstitutioninChina,anditisalsothepioneerandleaderinthefieldofpublicservicerecruitmentexaminationtraining.theCompany'smainbusinesscoversthreemajorsectorsincludingrecruitmentexaminationtraining,vocationalandacademicqualificationpreparation,andvocationalskillstraining.Itprovidesmorethan100categoriesofcomprehensivevocationaltrainingservices.OffcnEdumainlyservesknowledge-basedemploymentpopulationincludingcollegestudents,universitygraduates,andvariousprofessionals,rangingfromage18to45.Thishugegroupofhundredsofmillionsofpeopleisspreadthroughoutthecountry,citiesandtownsatalllevelsandinallwalksoflife.Employmentandvocationalabilityimprovementaretheirtwocoredemands.Currently,TheCompanyoperatesinmorethan1,800outletsacrossthecountry,coveringmorethan300prefecture-levelcities,andisrapidlyexpandingintothousandsofcountiesanduniversities.OffcnEduhasalarge-scalefull-timeR&Dteamofmorethan3,000people,alarge-scaleteacherteamofmorethan18,000people,andatotalstaffofmorethan45,000people.Relyingonoutstandingteamexecutionandnationwideverticalintegrationandrapidresponsecapabilities,theCompanyhasdevelopedintoaninnovation-drivenhigh-growthenterpriseplatform.
2.Overviewoftheindustryandbusinessenvironment
(1)Greaterprogresshasbeenmadeineducationequity,andthe“14thFive-YearPlan”hasestablishednewtargetsforinvestmentinpublicservicessuchaseducationandmedicalcare.EquityinEducationhasbecomethemaintoneofcurrenteducationreform.Withthereturnofbasiceducationtoitsnatureofpublicproducts,thisroundofreformswillgreatlypromotethebusinessexpansionoftrainingforteacherrecruitmentandteacherqualificationcertificateexaminations.The“14thFive-YearPlan”requireseducationequalityandqualitytobegreatlyimproved,highereducationtobepopularized,andmorethan60millionnewjobstobecreatedincitiesandtowns.Inaddition,20,000kindergartenswillbebuilt,renovatedandexpandedinordertoincreaseenrollmentsbyover4millionforordinaryfamilies.Andmorethan4,000primaryandsecondaryschoolswillbenewlybuilt,renovatedandexpanded.Intermsofmedicalandhealthcare,ontheonehand,itisnecessarytoexpanddiseasepreventionandcontrolbasesandbuildnationalandregionalmedicalcenters.Ontheotherhand,itisnecessarytostrivetoupgrade500county-levelhospitalstomeetthefacilitiesandservicecapabilitiesoftop-tierhospitals.Intermsofelderlycareservices,500districtsandcountieswillbesupportedinbuildingmodelcommunity-homeelderlycareservicenetwork,about300trainingandconvalescentinstitutionswillbesupportedintransformationintoinclusiveelderlycareinstitutions,andmorenursingbedswillbeprovidedforabout1,000publicelderlycareinstitutions.Intermsofchildcareservices,150citieswillbesupportedtodevelopchildcareserviceswithsocialresource,andmorethan500,000exemplaryinclusivechildcareenrollmentswillbeadded.Insummary,the“14thFive-YearPlan”willfurtheraccelerateinvestmentinpublicservicesandfurtherquantifytheindicators,whichwillstronglypromotethesustainablegrowthoftherecruitmentsectors,especiallyteachers,medicalandcommunityservices.
(2)Thepandemichasacceleratedtheeliminationofindustries,andlargeleadingcompanieshavefurtherpromotedthedemandgrowth.Foralongtime,thevocationaleducationindustryhasbeenfilledwithsmallandscatteredcompaniesandthemarketcompetitionisinchaos.Ontheonehand,thesupplyofcost-effectiveandhigh-qualityeducationproductsisseverelyinsufficient,whichdepressestheeducationaldemand,butontheotherhand,thereisaseriousexcessofhomogenizedproductioncapacity.Viciouscompetitioniswidespread.Onlylargeenterprisescanbreakthrough
thedifficultiesandobstaclescausedbytheextremefragmentationofthemarket.Throughsufficientinvestmentincorebusinesssuchasteachingandresearch,channels,andmanagement,brand-newandcost-effectiveproductscanbecreated,andhugepotentialdemandcanbedugout.Byexpandingbusinessintovarioussectorsandpushingeachsectorforward,avocationaleducationmarketfieldvaluedoftensofbillionscanbecreated.
(3)MainindustrycharacteristicsandcyclicalcharacteristicsTheindustryofvocationaleducationdistributesvastlyalloverthecountryanddemonstratesasignificantlong-taileffect.Thedemandofvocationaleducationdistributesvastlyineveryprovinceandeverycity,especiallyintheprefecture-levelcitiesandthecounties.Almosteverycountyhasavocationalhighschool,andeveryprefecture-levelcityhasvocationalcolleges.Therecruitmentdemandofpublicemployersaswellmainlyexistsinprefecture-levelcitiesandcounties,whichstimulateslotsoflocalsmalltraininginstitutionsandprovidesawidespaceforthelargescaleplayerstoexpandtheirnetworkofmarketingchannels.Meanwhile,thenationwideoperationaddsmoredifficultiestomanagementononehand,andliftsthebarrierstocompetitionontheotherhand.Thetrainingforpublicservicesrecruitmenttestsisseasonal.Forstudents,the1-2yearsbeforeoraftergraduationarethekeyperiodtotaketrainingclassesfortherecruitmenttests.Thenationalcivilservanttesttakesplaceonceayear,andtheprovincialexaminationsforeachprovincebasicallytakeplaceonceayear,whilefewprovinceswillhaveanotherjointexaminationtorecruitcivilservantsinthesecondhalfyear.Therecruitmentofpublicinstitutionemployeesandteachersarecarriedoutaccordingtotheneedsoftheprovincesandcities,whicharedistributedineachmonththroughouttheyearuncertainly.Thedocumentsofrecruitmentplanareofagreatamount.Thisseasonalfluctuationofrecruitmenthascausedmajorgrowthbottlenecksforsmallandmedium-sizedtrainingcompaniesandhasalsoprovidedlargeinstituteswithcontinuousmotivationtoconstantlychallengethescaleboundary.Withtherapidincreaseinexaminationcategoriesandbusinesssectors,largeenterpriseswillincreasinglyenjoytheresultsofscaleeffectsandobtainamoresoundresourceallocationstructure.Inrecentyears,themomentumofrecruitmentexaminationshasswitchedtonewareassuchaspublicinstitutions,teachersandcomprehensiverecruitment,bringingtherapidconcentrationofmarketshareintoleadingenterprises.
(4)Trendsoftheindustry’sfuturedevelopment
1)Thestatusofvocationaleducationineducationsystemisincreasing.
Foralongtime,China’seducationsystemhasbeendominatedbycurriculaeducationandthefoundationofvocationaleducationisrelativelyweak.Thereisaseriousshortageofhigh-endskilledtalentssupplyandinthefuture,theneedformore“skilledcraftsmen”and“greatbuilders”willremainurgent.Inrecentyears,China’sindustrialstructureisundergoingtransformationandupgrading.Thegovernmenthasclearlyproposedthatgreateffortswillbemadetopromotethedevelopmentofemergingindustrieswithstrategicimportance,andtheproportionofmodernserviceindustrywillbefurtherincreased.Withrapidchangesintheindustrialstructure,therequirementsfromenterprisesfortheprofessionalcompetenceandcomprehensivequalityoftechnicalpersonnelhavegraduallyincreased.Newrequirementsfortheirpracticalabilityhavealsobeenputforward.Traditionalacademiceducationcan’tfullymeetthenewrequirements.Besides,thegovernmentcontinuestoenhancetheeffortstodevelopvocationaleducation.Inadditiontothepertinentdocuments,suchasDecisionoftheStateCouncilonMakingGreatEffortstoDevelopVocationalEducationpublishedin2005,andNationalPlanforVocationalEducationReformandChina’sEducationModernizationPlan2035publishedin2019,the2021NationalVocationalEducationConferencefurtheremphasizedthatvocationaleducationhasabrightfutureandpromisingprospectsinthenewjourneyofbuildingamodernsocialistcountryinallrespects,andputinanexplicitrequestforacceleratingtheconstructionofamodernvocationaleducationsystem,andcultivatingmorehigh-calibertechnicalandskilledprofessionals,thuspromotingthestatusofvocationaleducationinthewholeeducationsystemfromboththepolicyandinstitutionallevels.
2)Thecontinuousincreaseinthenumberofcollegegraduatesisanimportantindicatoroftheemploymentsituation.Usually,afastergrowingeconomywillbringahigherlevelofemployment.Inrecentyears,economicgrowthhassloweddown,butthenumberofuniversitygraduateshascontinuedtogrow.Itwillreach9.09millionthisyear,settinganewhistoricalrecord.Collegegraduatesaccountformorethanhalfoftheannualdemandofover15millionnewjobs,andthebonusperiodfortheexportofcheaprurallaborhascometoanend.Theexpansionofuniversityenrollmenthasobviouslyanddirectlyacceleratedthearrivaloftheturningpoint.Thelaborshortageoffarmerlaborerscoexistswiththedifficultemploymentofcollegegraduates.Thedemandfortrainingforpublicservicerecruitmentexaminationcontinuestorise.Inaddition,aimingtomaintainsustainedeconomicgrowth,realizetransformationandupgrading,andovercomethe“middle-incometrap”,itisurgentlynecessarytocarryoutindustrialupgradingofmiddleandhigh-endvocationaleducationinordertoimprovethevocationalskillsandprofessionalliteracyofknowledge-basedemployees.
3)Theseriousshortageofhigh-qualitysupplyisthemaincontradictionthatrestrictsthedevelopmentofthevocationaleducationindustry.
Atpresent,thefoundationofvocationaleducationisstillweak.Duetotheextremelylowconcentrationoftheindustryandthelimitednumberoflargevocationaleducationinstitutesandenterprises,thesupplyofhigh-qualityvocationaleducationisseriouslyinsufficient.Withtheimprovementofindustryconcentrationandthecontinuousdevelopmentofleadingvocationaleducationenterprises,corebusinesselementssuchasR&D,managementandmarketingofvocationaleducationwillgraduallybreakthroughtheoriginalboundariesoftheindustry,createhigh-qualityandcost-effectivesupplies,drivedemand-sidevolumewithsupply-sideinnovationandpushtheindustryintoanewtrackofrapiddevelopment.
4)Theurbanizationwavewillpromotethecontinuousimprovementofpublicserviceandthenumberofemployeesofthepublicservicesectorwillcontinuetoexpand.Theprocessofurbanizationisakeydriverofthelong-termimpactonChina’semploymentmarketgrowth.Atpresent,theurbanizationratehasexceeded60%.Urbanizationwillexpandthepublicfinancialexpenditureandthenumberofemployeesinthepublicservicesector.China’surbanizationrateremainsinahigh-speedgrowthrangeof30%to70%.Itislikelytocontinuetodevelopfornearly20yearstoachieveanurbanizationrateofmorethan80%indevelopedcountries.Meanwhile,continuousurbanizationmayalsoleadtomoreseriouslyinadequatepublicservicesupplyincities,whichwillalsoimposehigherrequirementsonthequalityofpublicservices.Comparedwithpublicproductssuchasinfrastructure,publicservicesarelabor-intensiveinputs,especiallythebasicpublicservicesoflocalgovernments.Ithiresahugenumberofemployeeswhileimprovingpublicservicecapabilities.China’slong-termgoalfor2035andthemaingoalofeconomicandsocialdevelopmentduringthe“14thFive-YearPlan”periodrequireasignificantincreaseinthelevelofequalizationofpublicservices.AccordingtotheresearchbytheNationalAcademyofGovernance,theemployedpopulationinthepublicsectorindevelopedcountriesaccountsforabout10%to20%oftheworkforce,,whichisevenhigherthan20%inCanadaandHongKong.However,theemployedpopulationinthecurrentpublicsectoronlyaccountsfor5%inChina.Withthedeepeningofurbanization,theproportionofemployedpopulationinChina’spublicsectorwillgraduallyincrease;andthemarketoftrainingforpublicservicerecruitmentexaminationwillalsomaintainalong-termsteadygrowth,whichhasbeenpartiallyprovedbytheastonishingdemandsonthetrainingforteacherrecruitmentexaminationandrecruitmentexaminationinmedicaltreatmentandpublichealth.
3.MainperformancedrivingfactorsDuringthisreportingperiod,toachievetheannualbusinessgoals,theCompanyexpandsthemarketproactivelyandincreasesitsmarketshareconstantly,generatingatotaloperatingincomeofRMB4,855,998,263.50,withanincreaseof72.94%overthesameperiodoflastyear.However,influencedbytheearlierpandemic,thechangedsituationofmarketcompetitionandotherexternalfactors,aswellastherisingcostfromtheCompany’sforward-lookingstrategicinvestment,theCompanyexperienceditsperiodicallosses.Thenetprofitattributableto
shareholdersofthelistedCompanyisRMB-97,162,509.03,withayear-on-yeardecreaseof58.30%;thenetprofitattributabletoshareholdersofthelistedCompanyafterdeductingnon-recurringgainsandlossesisRMB-169,905,023.78,withayear-on-yeardecreaseof53.77%.Withthesteadilyincreasingscaleofoperation,theinput-outputeffectexertedbytheCompany’sforward-lookingcoreresourcewillbecomeanimportantdevelopmentpillarinthenextstage,andtheproductioncapacitywillbereleasedgradually.
（1）Theahead-of-schedulemulti-provincesjointexaminationshortenstheperiodofcollectingtrainingfeesandtherecruitingpaceisreturningtonormalgradually.Duringthereportingperiod,theahead-of-schedulemulti-provincesjointexaminationofthecivilservanthasshortenedthepeakperiodofcollectingtrainingfees,whichinfluencedtheperformanceofthesectorforcivilservantrecruitmentexamstosomedegree.ThesectorgeneratedtherevenueofRMB2,314,794,227.86,anincreaseof90.02%overthesameperiodoflastyearandanincreaseof12.31%overthesameperiodin2019.Therisingtrendofrecruitingdemandforcivilservantshasbeenconfirmed.Meanwhile,theahead-of-schedulemulti-provincesjointexaminationofthecivilservanthascreatedfavorableconditionsfortherecruitmentrecoveryofthetrainingsectorsforpublicinstitutionexams,teachersrecruitmentexams,medicalqualificationandetc.,andthesesectorsgotmoreinvestmentoftimeandresourceintheiroperation.Duringthereportingperiod,byseizingthatopportunity,usingitsleadingadvantageofmulti-categoriesandlarge-scaleoperationandactivelyinnovatingtheproducts,thetrainingsectorforpublicinstitutionexamsgeneratedtherevenueofRMB618,725,582.65,ayear-on-yearincreaseof148.37%;thetrainingsectorforteachersrecruitmentexamsgeneratedtherevenueofRMB534,948,828.84inthecurrentreportingperiod,ayear-on-yearincreaseof52.82%;andthetrainingsectorforotherpublicservicestestandnewbusinessesgeneratedtherevenueofRMB1,360,062,898.84inthecurrentreportingperiod,ayear-on-yearincreaseof
40.10%.Thekeyoperatingresourcesandperformanceindicatorsareshowninthetablebelow:
| Item | Indicators | Attheendofthereportingperiod | Attheendoflastyear | Changeattheendofthisreportingperiodcomparedwiththeendoflastyear |
| Operatingresources | Directlyoperatedbranches | 1,859.00 | 1,669.00 | 11.38% |
| Employees | 45,304.00 | 45,066.00 | 0.53% | |
| R&Dpersonnels | 3,065.00 | 3,025.00 | 1.32% | |
| Teachingprofessionals | 18,994.00 | 18,863.00 | 0.69% | |
| Item | Indicators | Attheendofthereportingperiod | Sameperiodlastyear | Year-on-yearchange(%) |
| Business&Revenues | Revenueofface-to-facetraining(RMB) | 3,120,444,415.18 | 1,622,095,227.36 | 92.37% |
| Revenueofonlinetraining(RMB) | 1,708,087,123.01 | 1,166,091,772.30 | 46.48% |
| Trainees | 2,792,112.00 | 2,452,252.00 | 13.86% |
| Revenue(RMB) | 4,855,998,263.50 | 2,807,980,480.60 | 72.94% |
| NetprofitsattributabletoshareholdersofthelistedCompany(RMB) | -97,162,509.03 | -233,026,645.16 | 58.30% |
(2)Digitaloperationproducessignificantresultandtheonline-merge-offline(OMO)businesskeepsgrowing.TheCompanykeepspromotingtheintegrationofdigitaloperationandverticalintegratedfastresponsesystemindepth,andusesdigitaloperationtoincreasetheefficiencyoffastresponsetofurtherenhancetheCompany’scorecompetitivenessbasedonspeedeconomy.Thecontinualandrecurrentpandemicleadstofurtherexpansionofdigitaloperation.Throughtheintelligentteachingplatformwithhugepotential,onlinelarge-scaleR&Dandcomprehensiveservicecapacity,theCompanyendeavorstopromoteOMOproductsandkeepsgrowinginthetoughbusinessenvironment.Duringthereportingperiod,theonlinetrainingbusinessoftheCompanygeneratedrevenueofRMB1,708,087,123.01,ayear-on-yearincreaseof46.48%.
(3)Theforward-lookingstrategiclayoutisefficientandthenewbusinesssectorreleasesproductioncapacitygradually.Fromthesecondhalfoflastyeartothefirsthalfofthisyear,theCompanyisdeterminedtoexpandoperationsacrosssectors,investsintensiveresourcesinactivenewbusinessesconstantly,andespeciallyputsforward-lookingstrategicinvestmentintoimportantsectorsincludingthetrainingsectorsforpost-graduateentranceexamination,collegeandhighinstitutionenrollmentexamsandIT.Duringthereportingperiod,thetrainingsectorsforpost-graduateentranceexamination,collegeandhighinstitutionenrollmentexamsandmedicalqualificationandothernewbusinesssectorsmaintainsahighlevelofactiveness,thuscontributingtotherevenueofRMB1,360,062,898.84fromthetrainingsector,withayear-on-yearincreaseof40.10%.Withthegrowthandmaturityofreservetalents,theCompany’snewbusinesssectorsgraduallyreleaseproductioncapacity,whichpromotestheperformanceofthepertinentsectionsinthecurrentperiodandmoreimportantly,furthersharpenstheadvantageofoverallarrangementtomakeforthegrowthtrendofsectorrotationinthemediumandlongterm.
SectionII.AnalysisoftheCompany’scorecompetitiveness
TheCompany'scorecompetitivenessisbasedontheformationofanenterpriseplatformwhichempowersrapidgrowthdrivenbythecapabilityofverticallyintegratedquickresponse.Thekeydrivingfactorsareasfollows:
1.Outstandingexecutionfostersthefast-growthcultureTheteambuilttheCompanywithoutstandingexecution,andfosteredtheCompany'sfast-growthculturethroughalongperiodofendeavoringtogrowinadversityandpersistentlypursuingtobreakthegrowthboundary.Theteamalwaysmaintainsthefirmwillandbelieftocreatethefuture,investsaudaciously,achieveseconomiesofscaleinahighlyfragmentedandregionallyisolatedmarket,strivestobeclosetotheoptimaloutput,capturesopportunities,andconfrontsfluctuations.Withconstantself-revolutionofcreativedestruction,theteamcanalwayscreatenewmarketsininconspicuousplaces,makingsustainedrapidgrowthpossible.
2.ClusteredprofessionalR&DoutputcontinuouslyincreasesthemomentumforinnovationAtthebeginningofthecareer,theCompanytooktheleadincarryingoutfull-timeandprofessionalR&D,basedonwhichitcreatedabrand-newmarket.Overthepastdecade,theCompanyhasfosteredanexpertteamwithrichpracticalexperienceofR&DandR&Dmanagementthroughfront-lineteachingpracticeandadaptiontomarketupgrading.Underthejointleadofthefoundingteamandtheexpertteam,afull-timeR&Dteamofmorethan3,000peoplehasformed.Withtheexpansionofcategoriesandtheinvolvementofdifferentsectors,theCompany'sprofessionalR&Dnotonlyachievesthecontinuousdivisionoflaborunderthescaleeffect,butalsocontinuouslycreatesR&Dclustereffectofcontinuouscollaborationbetweencategories,whichgreatlyimprovestheefficiencyofR&D,especiallythegraftefficiencyofstockR&Dresourcesfornewcategoriesandnewbusinesses.
3.RapidresponsecapabilitybasedontheverticalintegratedsystemsupportstheCompany’ssustainablehighgrowthstructurallyandefficiently.Thehighoperationefficiencyfarbeyondthegeneralindustriesisanecessitytorealizescaleeconomyandestablishcompetitivebarrierinthedecentralizedmarket.Therefore,verticalintegratedrapidresponsesystemand
capabilitycanbestadapttothiskindofmarketenvironment.Ineachexam,‘Businessoutlets-Headquarterscommandcenter-Teachingsites’aregivingresponsesandfeedbackwithhighfrequencyeveryday.Thus,theeffectofmanagementandlearningfaraboveaveragecanberealized.Verticalintegratedcorporatestructurecannotonlyrealizethehighefficiencyofoperation,butalsobeeffectivelycompatiblewiththemanagementimpactbroughtbyhighgrowthandrapidbusinesscategoryexpansion.Soinvestmentinandinnovationonthiscorporatestructurehasalwaysbeenacentralpartofthemanagementreform.Atpresent,OffcnEduhasestablishedmorethan1,800businessoutletscovering300prefecture-levelcitieswithconstantlyacceleratingexpansion.Simultaneously,theheadquarterscommandcentercontinuestoseekthescaleeffectofmanagementwiththehelpofmanagementreformanddigitaloperation.Inrecentyears,OffcnEduhasalsocontinuouslyinvestedintheconstructionoflarge-scaleone-stopbasesforfood,housingandlearningtopromotetherealizationoflarge-scalefactoryoperationontheteachingsites.
4.“Theflywheeleffectofmulti-categoriesgrowth”magnifiestheCompany’sgrowthprospectsstepbystepInvestmentcapacitiesbetweenmulti-categoriesgetsaccumulatedandsuperposed.Theflywheeleffectofmulti-categoriesgrowthconstantlyincreases.Thedevelopmentofnewandoldcategoriesmutuallyamplifiesinvestmentadequacy.Togetherastrongerabilityofoperatinginfrastructureisjointlypromoted.ThemainbusinessoftheCompany,whosecustomersincludehundredsofmillionsofknowledge-basedlaborpopulationagedbetween18and45acrossthecountry,spansthreesectorsoftrainingforpublicservicerecruitmentexamination,collegeandhighinstitutionenrollmentexamination,andvocationalabilityenhancement.toprovidecomprehensivevocationaltrainingservicescoveringmorethan100categories.Atpresent,theflywheeleffectofgrowthhasexpandedtoinvolvethethreesectorsandmagnifiedtheCompany’sgrowthprospectsstepbystep.Thesectoroftrainingforcollegeandhighinstitutionenrollmentexaminationwillbecomeanimportantimpetusforgrowthin3to5yearswhilethesectoroftrainingforvocationalabilityenhancementwillbecomethelargestandthemostsignificantcontributortothegrowthoftheCompanyin5to10years.
5.Digitaloperationformstheenterpriseplatformwith“real-timesituationalawareness”Theteam’sexplorationfordigitaloperationhaslastedformorethan15years,andinrecentyears,theinvestmentscalefordigitaloperationinfrastructurehasincreasedsignificantly.Onereasonistomeetthemanagementneedsforfastgrowthandrapidexpansionofcategories.Theotherreasonliesinthegreatadaptabilityofverticallyintegratedfastresponsesystemtothedigitization.Afterthesystemwasintegratedwiththedigitizationindepth,itgeneratedhigheroperatingefficiencyandsignificantlyimprovedthefrontandbackgroundresponsefrequencyfromunitsofdaystoalevelcloseto“real-timesituationalawareness”,whichgreatlyenhancedtheCompany’scorecompetitivenessbasedonspeedeconomy.
6.ThevaluesofkindnessandaltruismallowtheCompanytomaintainstrongorganizationalcohesioninhighgrowthAsaknowledgeablestaff-intensivevocationaleducationinstitution,theCompanyhasestablishedaconciseandeffectivecorporatecultureinthelongjourneyofarduousentrepreneurship,withthecorevalueof“BeKind&DoRight”andadvocatingaltruism.Notonlyhasitbecomeacompanysystem,butalsothefoundingteamhastakentheleadtosetanexample,drivenitstepbystep,andunswervinglyimplementeditintheoperation,makingthevaluesofOffcnEduubiquitousandflourishingintheenterprise.Thisdistinctiveandtangiblecorporatecultureallowsthecompanytomaintainstrongorganizationalcohesioninhighgrowth.
7.OffcnEdustrivestostrengthentheParty'sconstructiontopromotethehealthyandvigorousdevelopmentoftheCompanyFromtheestablishmentofthePartycommitteein2018totheestablishmentofthefirstPartyschoolofnon-public-ownedenterprisein2019,thePartycommitteeofOffcnEduhasfullyutilizedtheCompany’sadvantagesofknowledge,theory,andtechnologyandactivelypromotesandimplementstheParty’spoliticalroutes,principles,andpoliciestoemployeesandstudents.Meanwhile,OffcnEdufocusesontheintegrationofthePartybuildingofnon-publicenterprisesandcorporatecultureconstructiontopromotethehealthyandvigorousdevelopmentoftheenterprise.AsofJune30,2021,theCompanyhad9,286Partymembers,accountingformorethanone-fifthofthetotalnumberofemployees.
SectionⅢ.CorebusinessanalysisReferto“SectionI.TheCompany’smainbusinessduringthereportingperiod”.Year-on-yearchangesofmajorfinancialdata
Unit:RMB
| CurrentReportingPeriod | Sameperiodlastyear | Year-on-yearincreaseordecrease | Reasonsofchanges | |
| Revenue | 4,855,998,263.50 | 2,807,980,480.60 | 72.94% | Mainlyduetotheendingofthepandemicinthesecondhalfof2020,thecontinuousrecoveryofthemarketandthegradualincreaseofthebusinessincomebecauseoftheregularconductionofvariousexaminationsinthefirsthalfof2021 |
| Operatingcost | 2,684,951,238.24 | 1,452,611,180.39 | 84.84% | Mainlyduetotheendingofthepandemic,thegradualrecoveryofface-to-facetrainingandtheincreasedteachinginvestment |
| Marketingexpenses | 975,972,472.83 | 700,817,453.92 | 39.26% | Mainlyduetotheincreaseofstaffsalaryandmarketingfeeundertheinfluenceoftheresumptionofmarketingactivitiesandtheincreaseofmarketinvestment |
| Managementexpenses | 607,894,812.80 | 518,959,454.14 | 17.14% | |
| Financialexpenses | 257,804,336.41 | 182,654,623.66 | 41.14% | Mainlyduetotheincreaseinshort-termborrowinginterestandcollectionfeesandtheamortizationofunrecognizedfinancingexpensestofinancialexpensesaccordingtothenewleasestandard |
| Incometaxexpenses | 7,582.67 | 9,055,694.44 | -99.92% | Mainlyduetotherecognitionofdeferredincometaxexpensesinthepreviousperiod |
| R&Dinvestment | 542,875,812.43 | 383,227,531.01 | 41.66% | MainlyduetotheCompany’sexpansionofR&Dandincreasedinvestment |
| Netcashflowofbusinessoperation | -939,091,457.95 | 4,063,675,504.19 | -123.11% | Mainlyduetothecostincreaseresultedfromstrategicinvestment |
| andtheshortageofperiodofcollectingtrainingfeesfrommulti-provincesjointexaminationinthefirsthalfofyear | ||||
| Netcashflowofinvestment | -857,536,416.32 | -1,155,418,651.54 | 25.78% | Mainlyduetotheincreaseofnetinflowfromfinancialmanagement |
| Netcashflowoffundraising | -593,198,529.67 | -966,792,941.80 | 38.64% | Mainlyduetothedistributionofdividendsinthepreviousperiod |
| Increaseofcashandcashequivalents | -2,389,826,403.94 | 1,941,463,910.85 | -223.09% | Mainlyduetotheincreasedcostofinvestmentinthereportingperiod,thepurchaseoffixedassetsandintangibleassetsandtheshortageofperiodofcollectingtrainingfeesfrommulti-provincesjointexaminationinthefirsthalfofyear |
Whethercomponentsororiginofprofitschangedduringthereportingperiod
□Applicable√NotapplicableComponentsororiginofprofitsdidnotchangeduringthereportingperiodCompositionofrevenue
Unit:RMB
| Thisreportingperiod | Sameperiodlastyear | Year-on-yearincreaseordecrease | |||
| Amount | Proportionofrevenue | Amount | Proportionofrevenue | ||
| Revenue | 4,855,998,263.50 | 100% | 2,807,980,480.60 | 100% | 72.94% |
| Sectors | |||||
| Educationaltraining | 4,828,531,538.19 | 99.43% | 2,788,186,999.66 | 99.30% | 73.18% |
| Others | 27,466,725.31 | 0.57% | 19,793,480.94 | 0.70% | 38.77% |
| Categoriesofproduct | |||||
| TrainingforCivilServantTest | 2,314,794,227.86 | 47.66% | 1,218,210,409.21 | 43.38% | 90.02% |
| TrainingforPublicInstitutionTest | 618,725,582.65 | 12.74% | 249,112,502.48 | 8.87% | 148.37% |
| TrainingforTeachers’RecruitmentTest | 534,948,828.84 | 11.02% | 350,053,110.07 | 12.47% | 52.82% |
| Trainingforotherpublicservicestestandnewbusinesses | 1,360,062,898.84 | 28.01% | 970,810,977.90 | 34.58% | 40.10% |
| Others | 27,466,725.31 | 0.57% | 19,793,480.94 | 0.70% | 38.77% |
| Regions | |||||
| NortheastChina | 733,517,217.12 | 15.10% | 411,190,963.24 | 14.65% | 78.39% |
| NorthChina | 890,311,431.14 | 18.33% | 505,278,366.94 | 17.99% | 76.20% |
| EastChina | 1,172,672,546.07 | 24.15% | 777,042,423.85 | 27.67% | 50.91% |
| MiddleChina | 559,497,519.24 | 11.52% | 311,713,998.87 | 11.10% | 79.49% |
| SouthChina | 379,585,003.57 | 7.82% | 224,764,348.31 | 8.01% | 68.88% |
| SouthwestChina | 547,267,354.92 | 11.27% | 286,608,910.60 | 10.21% | 90.95% |
| NorthwestChina | 545,680,466.13 | 11.24% | 271,587,987.85 | 9.67% | 100.92% |
| Others | 27,466,725.31 | 0.57% | 19,793,480.94 | 0.70% | 38.77% |
Particularsofsectors,productsorregionsthataccountformorethan10%oftherevenueoroperatingincome
□Applicable√NotapplicableExplanationonchangesintherelevantdatabymorethan30%year-on-year
□Applicable√Notapplicable
SectionIV.Non-coreBusinessAnalysis
√Applicable□Notapplicable
Unit:RMB
| Amount | Reasons | SustainableorNot | |
| InvestmentIncome | 61,423,487.06 | Mainlyincludingincomefromfinancialproducts,andinterestontimedeposits. | Yes |
| Gainsandlossesfromchangesinfairvalue | 9,068,865.15 | Changesinfairvalueoffinancialproduct | Uncertain |
| Non-operatingincome | 37,698.84 | Formedduringtheoperatingprocess. | Uncertain |
| Non-operatingexpenses | 349,054.25 | Formedduringtheoperatingprocess. | Uncertain |
SectionV.AnalysisofAssetsandLiabilities
1.MajorChangesinAssetComposition
Unit:RMB
| Endofthereportingperiod | Endofthesameperiodlastyear | Increaseordecreaseinproportion | Explanationsonmajorchanges | |||
| Amount | ProportionofTotalAssets | Amount | ProportionofTotalAssets | |||
| Monetaryfund | 3,560,568,685.18 | 25.13% | 5,950,395,089.12 | 41.27% | -16.14% | Mainlyduetotheincreasedcostofinvestmentinthereportingperiod,thepurchaseofintangibleassetsandtheshortageofperiodofcollectingtrainingfeesfrommulti-provincesjointexaminationinthefirsthalfofyear |
| Accountsreceivable | 32,423,539.80 | 0.23% | 21,493,637.66 | 0.15% | 0.08% | Mainlyduetotheincreaseofrentreceivables |
| Investmentproperties | 657,723,948.43 | 4.64% | 668,014,515.82 | 4.63% | 0.01% | Nomajorchangesinthecurrentperiod |
| Long-termequityinvestment | 1,580,386,983.37 | 11.15% | 1,612,792,592.67 | 11.19% | -0.04% | Nomajorchangesinthecurrentperiod |
| Constructioninprogress | 256,986,886.10 | 1.81% | 214,248,125.04 | 1.49% | 0.32% | PleaserefertoSectionVII.(22)inChapter10FinancialStatements |
| Right-of-useasset | 1,345,123,513.84 | 9.49% | 9.49% | Mainlyduetotheincreaseofright-of-useassetsundertheimplementofthenewleasestandardsinceJanuary1,2021 | ||
| Short-termborrowings | 3,875,201,272.25 | 27.35% | 3,976,019,329.22 | 27.58% | -0.23% | Nomajorchangesinthecurrentperiod |
| Contractliabilities | 4,228,504,433.91 | 29.84% | 4,925,428,309.33 | 34.16% | -4.32% | Mainlyduetotheshortageofcollectingtrainingfeesfrommulti-provincesjointexaminationinthefirsthalfofyear |
| Leaseliability | 534,044,069.15 | 3.77% | 3.77% | MainlyduetotheincreaseofleaseliabilityundertheimplementationofthenewleasestandardsinceJanuary1,2021 |
2.KeyOverseasAssets
□Applicable√Notapplicable
3.Assetsandliabilitiesmeasuredatfairvalue
√Applicable□Notapplicable
Unit:RMB
| Items | OpeningBalance | Gainsandlossesfromthechangesinfairvalueduringtheperiod | Cumulativechangesinfairvalueattributedtoequity | Impairmentaccruedinthecurrentperiod | Amountofpurchaseinthecurrentperiod | Amountofsalesinthecurrentperiod | OtherChanges | ClosingBalance |
| FinancialAssets | ||||||||
| Transactionalfinancialassets(excludingderivativefinancialassets) | 1,191,656,173.26 | 9,068,865.15 | 0.00 | 0.00 | 4,644,550,000.00 | 5,456,410,000.00 | 388,865,038.41 |
| Investmentinotherequityinstruments | 152,800,000.00 | 152,800,000.00 | ||||||
| Subtotaloffinancialassets | 1,344,456,173.26 | 9,068,865.15 | 0.00 | 0.00 | 4,644,550,000.00 | 5,456,410,000.00 | 541,665,038.41 | |
| Total | 1,344,456,173.26 | 9,068,865.15 | 0.00 | 0.00 | 4,644,550,000.00 | 5,456,410,000.00 | 541,665,038.41 | |
| Financialliabilities | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
OtherschangesNone.WhethertheCompany’smajorassetsmeasurementattributeshavesignificantchangesduringthereportingperiod
□Yes√No
4.Assetswithrestrictedrightsasoftheendofthereportingperiod
| Items | Bookvalueattheendoftheperiod | ReasonsforRestriction |
| Monetaryfund | 358,600.00 | Deposit |
| Total | 358,600.00 |
SectionVI.AnalysisofInvestments
1.Overview
√Applicable□Notapplicable
| Amountofinvestmentduringthereportingperiod(RMB) | Amountofinvestmentinthesameperiodoflastyear | Variation |
| 8,300,352,568.17 | 18,542,275,652.81 | -55.24% |
2.Majorequityinvestmentobtainedduringthereportingperiod
□Applicable√Notapplicable
3.Majornon-equityinvestmentongoingduringthereportingperiod
√Applicable□Notapplicable
Unit:RMB
| Project | OffcnOfficeBuildinginFushun | ChangpingLandUseRight | Total |
| InvestmentMethod | Self-builtproject | Other | — |
| Whetheritisafixedassetinvestment | Yes | Yes | — |
| Industriesinvolvedininvestmentprojects | Educationaltechnologydevelopment,serviceandcultureconsultation | Educationaltechnologydevelopment,serviceandcultureconsultation | — |
| Amountofinvestmentinthis | 7,365,856.80 | 2,494,150,000.00 | 2,501,515,856.80 |
| reportingperiod | |||
| Cumulativeamountofinvestmentasoftheendofthereportingperiod | 147,653,548.32 | 3,097,058,000.00 | 3,244,711,548.32 |
| Sourcesoffunds | Self-ownedfund | Self-ownedfund | — |
| Projectprogress | 44.74% | — | — |
| Expectedincome | 0.00 | 0.00 | 0.00 |
| Cumulativeincomeasoftheendofthereportingperiod | 0.00 | 0.00 | 0.00 |
| Reasonsfornotreachingtheplannedprogressandexpectedincome | NotCompleted | Notyetstarted | — |
| Dateofdisclosure(Ifany) | — | Dec.3,2020 | — |
| Indexofdisclosure(Ifany) | — | www.cninfo.com.cn(AnnouncementNo:2020-046) | — |
4.Financialassetsinvestment
(1)Securitiesinvestment
√Applicable□Notapplicable
Unit:RMB
| Securities | Securitiescode | Securitiesabbreviation | Originalinvestmentcost | Accountingmeasurementmodel | Bookvalueatthebeginningoftheperiod | Profitsandlossesfromchangesinfairvalueforthecurrentperiod | Accumulatedchangesinfairvalueincludedinequity | Purchaseamountforthisperiod | SellingAmountforthisperiod | Profitsandlossesduringthereportingperiod | Bookvalueattheendoftheperiod | Accountingsubjects | Sourcesoffund |
| Funds | 010439 | HuitianfuStable-profitHybridSecuritiesFundwithone-yearholdingperiod | 9,999,000.00 | fairvaluemeasurement | 10,467,953.10 | 489,951.00 | 0.00 | 0.00 | 0.00 | 489,951.00 | 10,957,904.10 | Transactionalfinancialassets | Self-ownedfunds |
| Total | 9,999,000.00 | -- | 10,467,953.10 | 489,951.00 | 0.00 | 0.00 | 0.00 | 489,951.00 | 10,957,904.10 | -- | -- | ||
| DisclosureDateoftheannouncementofsecuritiesinvestmentapprovalbyboardofdirectors | N/A |
| Disclosuredateoftheannouncementofthesecuritiesinvestmentapprovalbyboardofshareholders(ifany) | N/A |
（2）Derivativesinvestment
□Applicable√NotapplicableThereisnoderivativesinvestmentduringthereportingperiod.
SectionVII.SaleofMajorAssetsandEquity
1.Salesofmajorassets
□Applicable√NotapplicableThereisnosalesofmajorassetsduringthereportingperiod.
2.Salesofmajorequity
□Applicable√Notapplicable
SectionVIII.Analysisofmajorshareholdingcompanies
√Applicable□NotapplicableMajorsubsidiariesandshareholdingcompaniesthathaveimpactonmorethan10%netprofitoftheCompany
Unit:RMB
| Companyname | BeijingOffcnEducationTechnologyCo.,Ltd. |
| Companytype | Subsidiary |
| Majorbusiness | Educationaltechnologyconsulting,technologydevelopment,technicalservices,technologypromotion,technologytransfer;educationalconsulting;culturalconsulting;corporatemanagementconsulting;corporateinvestmentconsulting;computertechnologytraining(notfornationaladmissions);publicrelationsservices;hostingexhibitionactivities;organizingculturalandartisticexchangeactivities(excludingperformances);conferenceservices;design,production,agency,releaseofadvertisements;publicationwholesale;publicationretail;operatingtelecommunicationsbusiness;humanresourceservices;radioandtelevisionprogramproduction;engaginginInternetculturalactivities.(Marketentitiesindependentlychooseoperatingprojectsandcarryoutoperatingactivitiesinaccordancewiththelaw;engageinInternetculturalactivities,publicationwholesale,publicationretail,telecommunicationsbusiness,radioandtelevisionprogramproduction,humanresource |
| services,andprojectssubjecttoapprovalinaccordancewiththelaw,andafterapprovalbyrelevantdepartments,carryoutoperatingactivitiesinaccordancewiththeapprovedcontent;shallnotengageinoperatingactivitiesthatareprohibitedorrestrictedbythestateandthiscity’sindustrialpolicies.) | |
| Registeredcapital | 90,000,000.00 |
| Totalassets | 11,736,902,897.51 |
| Netassets | 3,148,337,159.19 |
| Revenue | 4,842,219,472.70 |
| Operatingincome | -61,612,880.80 |
| Netprofit | -62,172,307.07 |
Acquisitionanddisposalofsubsidiariesduringthereportingperiod.
√Applicable□Notapplicable
| Companyname | Methodofacquisitionanddisposalofsubsidiariesinthereportingperiod | TheImpactontheoverallbusinessoperationandperformance |
| AnshanTiedongOffcnEducationTrainingSchoolCo.,Ltd. | Newestablishment | Nomajorimpact |
| DiqingOffcnTrainingSchoolCo.,Ltd. | Newestablishment | Nomajorimpact |
| WenlingOffcnInformationConsultancyCo.,Ltd | Newestablishment | Nomajorimpact |
Majorholdingandparticipatingcompanies
Thewholly-ownedsubsidiaryoftheCompany,BeijingOffcnEducationTechnologyCo.,Ltd,earnedrevenueofRMB4,842.2195millioninthefirsthalfof2021,withanincreaseof73.02%overthefirsthalfof2020;thenetprofitsofBeijingOffcnEducationTechnologyCo.,Ltdinthethefirsthalfof2021isRMB-62.1723million,withanincreaseof71.19%overthesameperiodoflastyear.Themainreasonforthesteadyandrapidgrowthofoperatingincomeandprofitisthattoachievetheannualbusinessgoals,theCompanycarrieseverytaskforwardsteadily,constantlyincreasesinvestmentinR&D,teaching,marketingandOMOplatform,expandsthemarketproactivelyandincreasesmarketshareconstantly,whichpromotestheR&Dcapacity,managementefficiencyandthetransformationofproductsandservicestowardtechnologyandinternetbased,andmakesthecomprehensiveadvantagesofbrandandplatformmoreexplicit.SectionIX.StructuredEntitiesControlledbytheCompany
□Applicable√Notapplicable
SectionX.PossibleRisksandResponses
1.RisksofpoliciesTheprosperityofthevocationaleducationindustryhasahighcorrelationwiththepolicyenvironment,andiseasilyaffectedbyvocationaleducationpolicies.Inrecentyears,inordertosupportthedevelopmentofthevocationaleducationindustry,thestatehassuccessivelyissuedanumberofindustrysupportandencouragementpolicies.RegulationsfortheImplementationoftheLawofthePeople'sRepublicofChinaonthePromotionofPrivateEducationnewlyissuedin2021revealstheadherencetothemethodofsupportingandregulatingprivate
education,andprovidesencouragementandsupportsforthedevelopmentofvocationaleducationinthepolicyprospect.However,someregionalauthoritiesmayhavedifferentunderstandingsoftheRegulations(mentionedabove),andthisuncertaintymaybringriskstotheCompany’sfuturebusinessdevelopmentinsomeregions.Inaddition,theCompanyhasmanybranchesandwidedistributionoftrainingvenues.Itisnotruledoutthatinthefuture,relevantregulatorydepartmentsofprovinces,autonomousregionsandmunicipalitieswillissuemorestringentregulationsforthelocaleducationandtrainingindustry,whichmayaffectthecompany'soperationsintheregion.Riskresponse:TheCompanypayscloseattentiontotheregulationsandpoliciesissuedbytheStateCouncil,educationadministrationandotherrelevantdepartmentsandlocalgovernments,andcomplieswiththelatestregulatoryrequirements.TheCompanyestablishesapolicyriskwarningmechanism,regularlychecksthepolicyrisksintheoperationofeachbranch,conductsriskeducationandprovidescomplianceremindersforeachbusinessdepartmenttoensurethattheCompanyisguidedbyregulatorypoliciesandoperatescompliantlyandprudently.Atthesametime,theCompany’steamresponsiblefortrackingandstudyingpolicyobtains,perceivesandpredictsthechangedirectionandtrendoftherelevantpolicyinlocalplacesinatimelymanner,activelystudiesrelevantpoliciesandregulations,makesarrangementsandadjustmentsinadvance,avoidsrelevantpolicyrisks,andleveragesindustrypoliciestohelptheCompany’sbusinessdevelopment.
2.RisksofmarketingcompetitionTheoverallscaleofthevocationaleducationmarketislarge,themarketdemandiswidelydispersedthroughoutthecountry,andtheinitialinvestmentscaleisrelativelysmall.Thishasspawnedalargenumberoflocalsmallandmedium-sizedtraininginstitutions,amongwhomthehomogeneityofproductsisrelativelyserious,andtheviciouscompetitionintheindustryiswidespread.Theimplementationofthenewpolicyoneasingtheburdenofexcessivehomeworkandoff-campustutoringforstudentsundergoingcompulsoryeducationmaypropelmoreandmorecapitalandinstitutionstoenterthevocationaleducationandtrainingindustry,leadingtoincreasinglyfiercemarketcompetition.Howtoeffectivelydealwiththecompetitionandimpactofcompetingproductsintheindustryandemerginginstitutionsisachallengefacingthecompany'scomprehensivedevelopmentofthevocationaleducationindustry.Riskresponse:theCompanywillcontinuetomaintainheavyR&Dinvestment,continuetoincreaseinvestmentintechnologicalinfrastructureandtechnicalteams,andintegratetechnologicalproductivityintotheoperatingsystemtodrivebusinessinnovation.Atthesametime,itwillcontinuetoexplorenewsubdivisiontracks,createafull-categorymarketformid-to-high-endvocationaleducation,andfurtherenhancetheCompany'scorecompetitivenessintheindustry.Aftermorethan20yearsofaccumulation,theCompanyhasafastiterativeteachingandresearchsystem,offlinechannelresourcesandonlinelayout,andhassignificantadvantagesinfuturemarketcompetition
3.RiskofcorebraindrainAsavocationaleducationenterprisewithhighlyintensiveknowledge-basedstaff,theCompanyregardstalentsasitsoneofcoreresources.Braindrainisacommonriskfacedbytheeducationandtrainingindustry.ThelossoftheCompany’scoremanagement,R&DtalentteamandbackboneteachersmayadverselyaffecttheCompany’slong-termstabledevelopment.Riskresponse:Ontheonehand,theCompanyhasattractedalargenumberofhigh-qualitytalentswithitsbrandadvantages,whichhascontinuouslyinjectednewforcesintotheCompany.Atthesametime,sincetheCompanywasfounded,ithastaken“BeKind&DoRight”asitscorevalueandadvocatedselflessnessandaltruism.ThisubiquitousandendlesscorporatecultureallowstheCompanytomaintainstrongorganizationalcohesion.Ontheotherhand,theCompanyattachesimportancetothebasicrightsandinterestsofemployees,completesafairandtransparentperformanceevaluationsystem,providesemployeeswithdiversifiedcompensationandincentivepaths,paysattentiontothepersonalgrowthofemployees,suppliesemployeeswithsustainabledevelopmentopportunitiesandgrowthspace,andreducestheriskofcorebraindrain.
4.RisksofoperationandmanagementWiththecontinuousexpansionoftheCompany’sbusinesscategoriesandbranches,theCompanymustfacetheriskbroughtaboutbythemismatchbetweenexpansionandmanagementcapabilities.Tofacilitatethedevelopment,thecostofvenueleasingandhumanresourcesincreasescontinually,whichresultsinthedeclineofthecurrentprofitlevelandprofitrate,etc.Atthesametime,thepandemicofCOVID-19islikelytocontinueandexistforalongtime,whichmeansthattheconductingoftrainingbusinessinsomeregionswillunderstrictcontrol,thuschallengingtheCompany’soperationandmanagement.Riskresponse:Inviewoftheaboverisks,theCompanywillcontinuetooptimizeitsmanagementsystemofverticalintegratedfastresponse,enhancethecoordinationbetweenlarge-scaleknowledgeemployees,improvemanagementandoperationefficiency,upgradehumanresourcesstructure,andmoderatethebusinessexpansionstrategyoftheCompany.TheCompanyattachesimportancetotalentreserves,makesarrangementsinadvance,andpromotestherealizationofgrowthexpectationsfornewcategories.Inthefaceofthispandemic,theCompanyhasrealizedthedeepintegrationofonlineandofflineproductswiththehelpofdigitaloperatingresultsanddeepresearchanddevelopmentcapabilities,andeffectivelyrespondedtotheimpactofthepandemic.Inaddition,inrecentyears,theCompanyhasalsocontinuedtoinvestintheconstructionofalarge-scaleone-stopbaseforfood,accommodationandlearning,promotetherealizationoflarge-scalefactory-styleoperationsattheteachingsite,andfurtherimprovethequalityofserviceswhilereducingoperatingcosts.
Chapter4CorporateGovernance
SectionI.Annualgeneralmeetingandextraordinarygeneralmeetingsconvenedduringthereportingperiod
1.Particularsabouttheshareholders’generalmeetingduringthereportingperiod
| Session | Type | InvestorParticipation | Conveningdate | Disclosuredate | Disclosureindex |
| 2021FirstExtraordinaryGeneralMeeting | ExtraordinaryGeneralMeeting | 78.68% | January25,2021 | January26,2021 | Fordetails,refertotheAnnouncementonResolutionsoftheFirstExtraordinaryGeneralMeetingof2020(No.2021-004)disclosedonwww.cninfo.com.cn. |
| 2020AnnualGeneralMeeting | AnnualGeneralMeeting | 80.10% | June15,2021 | June16,2021 | Fordetails,refertotheAnnouncementonResolutionsoftheAnnualGeneralMeetingof2020(No.2021-044)disclosedonwww.cninfo.com.cn. |
2.Extraordinarygeneralmeetingsrequestedbypreferredshareholderswithrestoredvotingrights:
□Applicable√NotapplicableSectionII.ChangesofDirectors,Supervisors,andSeniorExecutives
□Applicable√NotapplicableTheCompany’sdirectors,supervisorsandseniorexecutivesdidnotchangeduringthereportingperiod.Formorespecificinformation,pleaserefertothe2020AnnualReport.SectionIII.TheCompany’scommonstockprofitdistributionandcapitalizationofcapitalreserve
□Applicable√NotapplicableTheCompanyplansnottodistributecashdividends,bonusshares,nortoincreasesharecapitalbyconvertingcapitalreserve.SectionIV.ImplementationoftheCompany’sequityincentiveplan,employeestockownershipplanorotheremployeeincentivemeasures
Applicable√NotapplicableThereisnosuchsituationoftheCompany’sequityincentiveplan,employeestockownershipplanorotheremployeeincentivemeasures.
Chapter5Environmentalandsocialresponsibilities
SectionI.Environmentalprotection
DidthelistedCompanyanditssubsidiariesbelongtothemajorpollutantdischargeunitsannouncedbytheMinistryofEcologyandEnvironment？
□Yes√NoSituationsofreceivingadministrativepunishmentduetoenvironmentalissuesduringthereportingperiod
| Nameofcompanyoritssubsidiaries | Reasonsofpunishment | Detailsofissues | Resultsofpunishment | InfluenceonoperationsofthelistedCompany | Rectificationmeasuresofthecompany |
| N/A | Notapplicable | Notapplicable | Notapplicable | Notapplicable | Notapplicable |
OtherenvironmentalinformationdisclosedinreferencewithmajorpollutantdischargeunitsNotapplicableReasonsofnotdisclosingotherenvironmentalinformationTheCompanyanditssubsidiariesdonotbelongtothemajorpollutantdischargeunitsannouncedbytheMinistryofEcologyandEnvironment.TheCompanyanditssubsidiariesstrictlyfollowtherelevantlawsandregulationsissuedbythestateregardingenvironmentprotectionanddidnotreceiveanyadministrativepunishmentduetoenvironmentalissuesduringthereportingperiod.SectionII.SocialResponsibilities
TheCompanyhasnotcarriedouttargetedpovertyalleviationworkinthefirsthalfoftheyear.
Chapter6SignificantEvents
1.CommitmentsthattheCompany’sactualcontrollers,shareholders,relatedparties,acquirers,theCompanyandotherrelevantpartieshavefulfilledduringthereportingperiodandhavenotfulfilledasoftheendofthereportingperiod
√ApplicableNotapplicableImportantcommitmentsmadebythepartiesinvolvedinthemajorassetsrestructuringareasfollows:
| CommitmentParty | CommitmentType | Maincontentsofcommitment | Commitmenttime | Commitmentperiod | Performance |
| YaxiaIndustrial,ZhouXiayun,ZhouHui,ZhouLi,Phase-Iemployeestockownershipplan | Letterofcommitmentonlock-upperiod | Afterthecompletionofthetransaction(startingfromthedateofthelistingofsharesissuedinthistransaction),thecompany/I/theplanshallnottransfertheshareswithrightsandinterestsofYaxiaAutowithin36months.Afterthecompletionofthetransaction,thesharesheldbytheCompany/I/theplan,derivedfromYaxiaAutosharesduetothedistributionofstockdividendsandtheconversionofcapitalreservetosharecapitalshallalsocomplywiththeabove-mentionedarrangementofrestrictedsaleofshares.IftheChinaSecuritiesRegulatoryCommissionand/orShenzhenStockExchangehave/hasotherprovisionsfortheabove-mentionedlock-upperiodarrangement,thecompany/I/theplanwilladjustandimplementtheabove-mentionedlock-upperiodarrangementaccordingtothelatestregulationsoftheChinaSecuritiesRegulatoryCommissionand/orShenzhenStockExchange.Ifviolatingtheabovecommitments,thecompany/I/theplanwillbearalllossescausedtoYaxiaAuto. | May4,2018 | Jan.31,2022 | Undernormalimplementation |
| LiYongxin | LetterofCommitmentonlock-upperiodforsubscriptionofshares | 1.ThesharesofthelistedCompanysubscribedbymyselfinthistransactionshallnotbetransferredordealtwithinanyotherformswithin36monthsfromthedateofthelistingoftheshares.Within6monthsafterthelistingoftheshares,iftheclosingpriceofthelistedcompanystockislowerthantheissuepriceforconsecutive20tradingdays,ortheclosingpriceofthestockattheendofthe6monthsafterthelistingofthesharesislowerthantheissueprice,thelock-upperiodofconsiderationsharesacquiredbymyselfshallbeautomaticallyextendedfor6months.(Ifdividendorbonussharesdistribution,conversionofcapitalreserveorallotmentbythelistedcompanyoccurredduringtheabove-mentionedperiod,theaforementionedissuepriceshallbecalculatedbasedon | Apr.27,2018 | Jan.31,2022 | Undernormalimplementation |
| thepriceadjustedbyfactorsasex-dividendandex-rights,etc.)2.Asthetransfereeof72,696,561YaxiaAutosharesheldbyAnhuiYaxiaIndustrialCo.,Ltd.,Ishallnottransfersuchshareswithin36monthsfromtheregistrationdateofsuchsharesinmysecuritiesaccount.3.Theaforesaidarrangementofsharelock-updoesnotaffecttheimplementationofprofitcompensationforthistransaction,thatis,whenIneedtomakeprofitcompensation,thelistedcompanyhastherighttorelievethelock-upofsharesincorrespondingamountinadvanceforprofitcompensation.4.Ipromisetoabidebythefollowingprovision:ifthetransactionisinvestigatedbyjudiciaryauthoritiesortheChinaSecuritiesRegulatoryCommissiononsuspicionofmisrepresentations,misleadingstatements,ormaterialomissionsinregardtotheinformationprovidedordisclosed,thesharesofthelistedCompanyacquiredinthistransactionshallnotbetransferreduntiltheconclusionoftheinvestigationisclarified.5.Afterthecompletiondateofthistransaction,myincreasedsharesduetobonussharesdistributionorconversionofcapitalreserveofthelistedCompanyshallalsocomplywiththeforegoingrequirements.6.Iftheaforementionedlock-upperiodarrangementdoesnotcomplywiththelatestlawsandregulationsandthelatestregulatoryrequirementsofthesecuritiesregulatoryinstitution,Iagreetoimplementthearrangementinaccordancewiththelatestlawsandregulationsandtherequirementsoftheregulatoryagency.7.Afterthelock-upperiodexpires,itwillbeimplementedinaccordancewiththerelevantregulationsoftheChinaSecuritiesRegulatoryCommissionandtheShenzhenStockExchange. | |||||
| LuZhongFang | Letterofcommitmentonlock-upperiodforsubscriptionofshares | 1.ThesharesofthelistedCompanysubscribedbymyselfinthistransactionshallnotbetransferredordealtwithinanyotherformswithin36monthsfromthedateofthelistingoftheshares.Within6monthsafterthelistingoftheshares,iftheclosingpriceofthelistedcompanystockislowerthantheissuepriceforconsecutive20tradingdays,ortheclosingpriceofthestockattheendofthe6monthsafterthelistingofthesharesislowerthantheissueprice,thelock-upperiodofconsiderationsharesacquiredbymyselfshallbeautomaticallyextendedfor6months.(Ifdividendorbonussharesdistribution, | Apr.27,2018 | Jan.31,2022 | Undernormalimplementation |
| conversionofcapitalreserveorallotmentbythelistedcompanyoccurredduringtheabove-mentionedperiod,theaforementionedissuepriceshallbecalculatedbasedonthepriceadjustedbyfactorsasex-dividendandex-rights,etc.)2.Theaforesaidarrangementofsharelock-updoesnotaffecttheimplementationofprofitcompensationforthistransaction,thatis,whenIneedtomakeprofitcompensation,thelistedcompanyhastherighttorelievethelock-upofsharesincorrespondingamountinadvanceforprofitcompensation.3.Ipromisetoabidebythefollowingprovision:ifthetransactionisinvestigatedbyjudiciaryauthoritiesortheChinaSecuritiesRegulatoryCommissiononsuspicionofmisrepresentations,misleadingstatements,ormaterialomissionsinregardtotheinformationprovidedordisclosed,thesharesofthelistedCompanyacquiredinthistransactionshallnotbetransferreduntiltheconclusionoftheinvestigationisclarified.4.Afterthecompletiondateofthistransaction,myincreasedsharesduetobonussharesdistributionorconversionofcapitalreserveofthelistedCompanyshallalsocomplywiththeforegoingrequirements.5.Iftheaforementionedlock-upperiodarrangementdoesnotcomplywiththelatestlawsandregulationsandthelatestregulatoryrequirementsofthesecuritiesregulatoryinstitution,Iagreetoimplementthearrangementinaccordancewiththelatestlawsandregulationsandtherequirementsoftheregulatoryagency.6.Afterthelock-upperiodexpires,itwillbeimplementedinaccordancewiththerelevantregulationsoftheChinaSecuritiesRegulatoryCommissionandtheShenzhenStockExchange. | |||||
| KeruiTechnologyInnovation | Letterofcommitmentonlock-upperiodforsubscriptionofshares | 1.ThesharesofthelistedCompanysubscribedbyKeruiTechnologyInnovationinthistransactionshallnotbetransferredordealtwithinanyotherformswithin36monthsfromthedateofthelistingoftheshares.Within6monthsafterthelistingoftheshares,iftheclosingpriceofthelistedcompanystockislowerthantheissuepriceforconsecutive20tradingdays,ortheclosingpriceofthestockattheendofthe6monthsafterthelistingofthesharesislowerthantheissueprice,thelock-upperiodofconsiderationsharesacquiredbyKeruiTechnologyInnovationshallbeautomaticallyextendedfor6months.(Ifdividendorbonussharesdistribution,conversionof | Jul.27,2018 | Jan.31,2022 | UndernormalImplementation |
| capitalreserveorallotmentbythelistedcompanyoccurredduringtheabove-mentionedperiod,theaforementionedissuepriceshallbecalculatedbasedonthepriceadjustedbyfactorsasex-dividendandex-rights,etc.)2.Theenterprisepromisestoabidebythefollowingprovision:ifthetransactionisinvestigatedbyjudiciaryauthoritiesortheChinaSecuritiesRegulatoryCommissiononsuspicionofmisrepresentations,misleadingstatements,ormaterialomissionsinregardtotheinformationprovidedordisclosed,thesharesofthelistedCompanyacquiredinthistransactionshallnotbetransferreduntiltheconclusionoftheinvestigationisclarified.3.Afterthecompletiondateofthistransaction,theincreasedsharesthattheenterpriseownsduetobonussharesdistributionorconversionofcapitalreserveofthelistedCompanyshallalsocomplywiththeforegoingrequirements.4.Iftheaforementionedlock-upperiodarrangementdoesnotcomplywiththelatestlawsandregulationsandthelatestregulatoryrequirementsofthesecuritiesregulatoryinstitution,theenterpriseagreestoimplementthearrangementinaccordancewiththelatestlawsandregulationsandtherequirementsoftheregulatoryagency.5.Afterthelock-upperiodexpires,itwillbeimplementedinaccordancewiththerelevantregulationsoftheChinaSecuritiesRegulatoryCommissionandtheShenzhenStockExchange. | |||||
| AerospaceIndustry,GuangyinVenture | Letterofcommitmentonlock-upperiodforsubscriptionofshares | 1.ThesharesofthelistedCompanysubscribedbyKeruiTechnologyInnovationinthistransactionshallnotbetransferredordealtwithinanyotherformswithin36monthsfromthedateofthelistingoftheshares.Within6monthsafterthelistingoftheshares,iftheclosingpriceofthelistedcompanystockislowerthantheissuepriceforconsecutive20tradingdays,ortheclosingpriceofthestockattheendofthe6monthsafterthelistingofthesharesislowerthantheissueprice,thelock-upperiodofconsiderationsharesacquiredbyKeruiTechnologyInnovationshallbeautomaticallyextendedfor6months.(Ifdividendorbonussharesdistribution,conversionofcapitalreserveorallotmentbythelistedcompanyoccurredduringtheabove-mentionedperiod,theaforementionedissuepriceshallbecalculatedbasedonthepriceadjustedbyfactorsasex-dividendandex-rights, | Jul.27,2018 | Jan.31,2021 | TheCompany’ssharesheldbytheAerospaceIndustryandGuangyinVenturewerelistedforcirculationonFebru |
| etc.)2.Theenterprisepromisestoabidebythefollowingprovision:ifthetransactionisinvestigatedbyjudiciaryauthoritiesortheChinaSecuritiesRegulatoryCommissiononsuspicionofmisrepresentations,misleadingstatements,ormaterialomissionsinregardtotheinformationprovidedordisclosed,thesharesofthelistedCompanyacquiredinthistransactionshallnotbetransferreduntiltheconclusionoftheinvestigationisclarified.3.Afterthecompletiondateofthistransaction,theincreasedsharesthattheenterpriseownsduetobonussharesdistributionorconversionofcapitalreserveofthelistedCompanyshallalsocomplywiththeforegoingrequirements.4.Iftheaforementionedlock-upperiodarrangementdoesnotcomplywiththelatestlawsandregulationsandthelatestregulatoryrequirementsofthesecuritiesregulatoryinstitution,theenterpriseagreestoimplementthearrangementinaccordancewiththelatestlawsandregulationsandtherequirementsoftheregulatoryagency.5.Afterthelock-upperiodexpires,itwillbeimplementedinaccordancewiththerelevantregulationsoftheChinaSecuritiesRegulatoryCommissionandtheShenzhenStockExchange. | ary1,2021,theshareholders’sharelock-upcommitmentshadbeenfulfilled | ||||
| WangZhendong,GuoShihong,LiuBin,ZhangYongsheng,YangShaofeng,ZhangZhi’an | Letterofcommitmentonlock-upperiodforsubscriptionofshares | 1.ThesharesofthelistedCompanysubscribedbymyselfinthistransactionshallnotbetransferredordealtwithinanyotherformswithin36monthsfromthedateofthelistingoftheshares.Within6monthsafterthelistingoftheshares,iftheclosingpriceofthelistedcompanystockislowerthantheissuepriceforconsecutive20tradingdays,ortheclosingpriceofthestockattheendofthe6monthsafterthelistingofthesharesislowerthantheissueprice,thelock-upperiodofconsiderationsharesacquiredbymyselfshallbeautomaticallyextendedfor6months.(Ifdividendorbonussharesdistribution,conversionofcapitalreserveorallotmentbythelistedcompanyoccurredduringtheabove-mentionedperiod,theaforementionedissuepriceshallbecalculatedbasedonthepriceadjustedbyfactorsasex-dividendandex-rights,etc.)2.Theaforesaidarrangementofsharelock-updoesnotaffecttheimplementationofprofitcompensationforthistransaction,thatis,whenIneedtomakeprofitcompensation,thelistedcompanyhastherighttorelieve | Jul.27,2018 | Jan.31,2021 | TheCompany’ssharesheldbyWangZhendong,GuoShihong,LiuBin,ZhangYongsheng,YangShaofeng,andZhangZhi’anwerelistedfor |
| thelock-upofsharesincorrespondingamountinadvanceforprofitcompensation.3.Ipromisetoabidebythefollowingprovision:ifthetransactionisinvestigatedbyjudiciaryauthoritiesortheChinaSecuritiesRegulatoryCommissiononsuspicionofmisrepresentations,misleadingstatements,ormaterialomissionsinregardtotheinformationprovidedordisclosed,thesharesofthelistedCompanyacquiredinthistransactionshallnotbetransferreduntiltheconclusionoftheinvestigationisclarified.4.Afterthecompletiondateofthistransaction,myincreasedsharesduetobonussharesdistributionorconversionofcapitalreserveofthelistedCompanyshallalsocomplywiththeforegoingrequirements.5.Iftheaforementionedlock-upperiodarrangementdoesnotcomplywiththelatestlawsandregulationsandthelatestregulatoryrequirementsofthesecuritiesregulatoryinstitution,Iagreetoimplementthearrangementinaccordancewiththelatestlawsandregulationsandtherequirementsoftheregulatoryagency.6.Afterthelock-upperiodexpires,itwillbeimplementedinaccordancewiththerelevantregulationsoftheChinaSecuritiesRegulatoryCommissionandtheShenzhenStockExchange. | circulationonFebruary1,2021,theshareholders’sharelock-upcommitmentshavebeenfulfilled | ||||
| OffcnPartnership | Letterofcommitmentonthelock-upofshares | Within36monthsfromthedateofthetransferof80,000,000sharesofYaxiaAutoheldbyAnhuiYaxiaIndustrialCo.,Ltd.totheenterprise,thesharesshallnotbetransferred.Thelock-upperiodofthesharesincreasedduringtheaboveperiodduetobonussharesdistribution,conversionofcapitalreserveorallotmentofsharesbyYaxiaAuto,shallalsocomplywiththeforegoingrequirements.Iftheenterpriseviolatescommitmentslistedabove,itwillbearalllossescausedtoYaxiaAuto. | Apr.27,2018 | Jan.31,2022 | Undernormalimplementation |
| LiYongxinandother10counterparties | Letterofcommitmentonthelock-upofOffcnPartnership’scontributionshares | Within36monthsfromthedateofthetransferof80,000,000sharesofYaxiaAutoheldbyAnhuiYaxiaIndustrialCo.,Ltd.toBeijingOffcnFutureInformationConsultingCenter(LimitedPartnership),IortheenterpriseshallnotinanywaytransferthesharesofBeijingOffcnFutureInformationConsultingCenter(LimitedPartnership)orwithdrawfromthepartnershipwithBeijingOffcnFutureInformationConsultingCenter(LimitedPartnership),nordowetransfer,assignorauthorizeotherentitiesinanywaytofullyorpartiallyhavetherightsandinterestsindirectlyrelatedtothesharesofYaxiaIndustrialCo.,Ltd.heldbyBeijingOffcnFutureInformationConsultingCenter(LimitedPartnership). | Jul.27,2018 | Jan.31,2022 | Undernormalimplementation |
| LiYongxin | Letterofcommitment | I.GuaranteetheindependenceofthelistedCompany’s | April27,2018 | Long-term | Underimple |
| LuZhongfangWangZhendongOffcnPartnership | onmaintainingindependenceofthelistedCompany | personnel(1)Itisguaranteedthatafterthecompletionofthistransaction,thepersonnel,humanresourcesandremunerationmanagementofthelistedCompanyshallbecompletelyindependentfrommyself/OffcnPartnership,andfromotherrelatedparties,suchascompanies,enterprisesoreconomicorganizations,controlledbymyself/OffcnPartnership.(2)Itisguaranteedthatafterthecompletionofthistransaction,seniorexecutivesshallworkasfull-timeemployeesandreceiveremunerationinthelistedCompany.Theyshallnotholdanypositionsotherthandirectorsorsupervisorsinothercompanies,enterprises,oreconomicorganizationscontrolledbymyself/OffcnPartnership.(3)Itisguaranteedthatafterthecompletionofthistransaction,theofficialpowersoftheshareholders’meetingandboardofdirectorsonpersonnelappointmentsanddismissalsshallnotbeinterfered.II.GuaranteetheindependenceofinstitutesofthelistedCompany(1)Itisguaranteedthatafterthecompletionofthistransaction,thelistedCompanyshallbuildasoundstructureofcorporategovernanceanddevelopanindependentandcompleteorganizationalstructure.(2)Itisguaranteedthatafterthecompletionofthistransaction,thegeneralmeetingofshareholders,theboardofdirectors,andtheboardofsupervisorsshallindependentlyexercisetheirpowersinaccordancewithlaws,regulationsandtheCompany’sArticlesofCorporation.III.GuaranteetheindependenceandcompletenessoftheassetsofthelistedCompany.(1)Itisguaranteedthatafterthetransaction,thelistedCompanyshallhaveindependentandcompleteassetsrelatedtoproductionandoperation.(2)Itisguaranteedthatafterthecompletionofthistransaction,thebusinesspremisesofthelistedCompanyshallbeindependentfrommyself/OffcnPartnership,andotherrelatedparties,suchascompanies,enterprises,orothereconomicorganizationscontrolledbymyself/OffcnPartnership.(3)Itisguaranteedthatafterthecompletionofthistransaction,exceptfornormalbusinessdealings,there | mentationnormally |
| relatedparties,suchascompanies,enterprisesorothereconomicorganizationscontrolledbymyselforOffcnPartnership(4)Itisguaranteedthatafterthecompletionofthistransaction,thelistedCompanycanmakefinancialdecisionsindependently.I/OffcnPartnershipshallnotinterferewiththeuseoffundsbythelistedCompany.(5)Itisguaranteedthatafterthecompletionofthistransaction,thelistedCompanywillpaytaxesindependentlyaccordingtolaws.I/OffcnPartnershipshallbeliableforalllossescausedtothelistedCompanyanditssubsidiariesduetomy/OffcnPartnership’sfailureinfulfillingtheabovecommitments. | |||||
| LiYongxin,LuZhongfang | LetterofCommitmentonavoidinghorizontalcompetition | 1.Asofthedateofsigningthiscommitmentletter,myself,mycloserelativesandothercompanies,enterprisesoreconomicorganizationscontrolledbymyselfandmycloserelatives,exceptforBeijingOffcnOnlineEducationTechnologyCo.,Ltd.(hereinafterreferredtoasOffcnOnline),controlledbymyrelativesXuhuaandLuYan,anditsaffiliatedschoolswhichareinvolvedinthesameorsimilarbusinessesconductedbyOffcnLtd.,otherrelatedpartiesarenotinvolvedinanysame,similarorrelatedbusinessesconductedbythelistedCompany,OffcnLtd.anditsaffiliatedcompaniesandschools.ExceptforservingasadirectorinKunmingWuhuaOffcntrainingschool,whichisaffiliatedtoOffcnOnline,LiYongxinneitherholdsanyfull-timeorpart-timepositionsnorprovidesconsultancyatanycompaniesorenterprises,whichconductscompetitivebusinesseswiththelistedCompany,OffcnLtd.andtheiraffiliates.Ialsodonotdirectlyorindirectlyholdanyequityorsharesofcompaniesorenterprisesconductingthesame,similarorrelatedbusinessesasthelistedCompany,OffcnLtd.anditsaffiliates.2.Asofthedateofsigningthiscommitmentletter,OffcnOnlineanditstwosubordinatetrainingschools’disposalsareasfollow:OffcnOnlineconductsnoeducationbusinesses(tobecanceledaftersubordinateschoolstransferred).KairuierTrainingSchoolinHaidianDistrictofBeijingistobetransferredtoanunrelatedthirdpartyandthetransferagreementhasbeensigned.Ifthetransferisnotcompletedwithin24monthssincethedateofsigningthiscommitmentletter,IwillurgeOffcnOnlinetocanceltheKairuierTrainingSchoolinHaidianDistrictofBeijing.KunmingWuhuaOffcnTrainingSchool, | Sept.20,2018 | 1.ThetransferofKairuierTrainingSchoolinHaidianDistrictofBeijing:within24monthsfromthedateofthesigningofthisletterofcommitment2.ThetransferofKunmingWuhuaOffcnTrainingSchool:within12monthsaftertherevisedRegulationsofImplementationofficiallypromulgatedand | Asoftheendofthereportingperiod,KairuierTrainingSchoolinHaidianDistrictofBeijinghadbeentransferredtoanunrelatedthirdparty.Othercommitmentsareundernormalimplementation |
| associatedwithOffcnOnline,hasbeenclosedanditwillbetransferredtoanunrelatedthirdpartyorwillbecanceledwithin12monthsaftertherevisedRegulationsfortheImplementationoftheLawonthePromotionofPrivateEducationofthePeople’sRepublicofChina(hereinafterreferredtoasRegulationsofImplementation)isofficiallypromulgatedandimplementedandsupportingregulationsformulatedbyrelevantlocaleducationauthoritiesinaccordancewiththerevisedRegulationsofImplementationcomesintoeffect.3.Asofthedateofsigningthiscommitmentletter,OffcnLtd.astheorganizerintendstotransferits100%oftheorganizer’srightsof33privateschoolsfornon-academicqualificationstoLiYongxinandsingedtheAgreementonTransferofOrganizer’sRightsofPrivateSchoolsforNon-AcademicQualificationsAffiliatedtoBeijingOffcnEducationTechnologyCo.,Ltd.LiYongxiniswillingtoentrustthetransferred33privateschoolsfornon-academicqualificationstoOffcnLtd.andsignedtheTrusteeshipAgreementofPrivateSchoolsforNon-academicQualifications.4.Afterthecompletionoftransaction,exceptfortheabove-mentionedcases,IpromisethatduringthetimeofbeingtheactualcontrollerofthelistedCompany,I,mycloserelativesandotherrelatedparties,suchascompanies,enterprisesorothereconomicorganizations,controlledbymyselfandmycloserelativesshallnotinanyway(includingbutnotlimitedtoselfoperatedorwithotherpartiestooperatejointventure,cooperation,jointoperation,investment,mergence,andtrusteeoperationhomeandaboard)engageinthesame,similar,relatedandcompetitivebusinesseswiththelistedCompany,whichincludesthefollows:(1)Iwillnotdirectlyorindirectlyoperate,participateinorassistotherstoconductsame,similarbusinessesorothereconomicactivitieswhichdirectlyorindirectlyconstituteacompetitiverelationshipwithbusinessescurrentlyoperatedbythelistedCompanyanditsaffiliatedcompanies.(2)IwillnotdirectlyorindirectlyinvestonanyeconomicentitieswhosebusinessesconstituteadirectorindirectcompetitiverelationshipwiththelistedCompanyanditsaffiliates.(3)Iwillnotbehiredbyanycompetitorsthatdirectlyor | implementedandsupportingregulationsformulatedbyrelevantlocaleducationauthoritiesinaccordancewiththerevisedRegulationsofImplementationcomesintoeffect. |
| indirectlycompetewiththelistedCompanyanditsaffiliates,orprovideanyadvice,assistanceorbusinessopportunitiesdirectlyorindirectlytosuchcompetitors;.(4)Iwillnotinstigate,mislead,encourageorotherwiseinduce,persuade,orcoercetheemployeesormanagementpersonnelinthelistedCompanyanditsaffiliatestoterminatetheirlabororemploymentrelationshipwiththeCompanyanditsaffiliates.(5)IwillnoturgeotherstohireemployeesormanagementpersonnelfromthelistedCompanyanditsaffiliates.5.IpromisethatifI,mycloserelativesandotherrelatedparties,suchascompanies,enterprisesorothereconomicorganizationscontrolledbymyselfandmycloserelativesobtainanybusinessopportunitiesfromanythirdparty,whichcanormaycompetewiththelistedCompanyanditsaffiliatesinthefuture,IwillnotifythelistedCompanyanditsaffiliatesinwritingwithin5workingdays.Afterobtainingthethirdparty’spromise,IwillattempttotransferthesebusinessopportunitiestothelistedCompanyanditsaffiliates.6.IguaranteethatIwouldneverusemyknowledgeaboutandtheinformationI’mawareofthelistedCompanyanditsaffiliatestoassistthirdpartiestoengage,participate,orinvestinbusinessesorprojectsthatcompetewiththelistedcompaniesanditsaffiliates.7.IfIviolatetheabovecommitments,thebenefitsobtainedbytheviolationofcommitmentsshallbelongtothelistedCompanyandIshallbeliableforalllossescausedtothelistedCompanyanditsaffiliates.Within30workingdayssincereceivingthewritingnoticefromthelistedCompany,compensationwillbemadeincash.8.Iwilldiscloserelevantinformationinatimelymannerifcommitmentsfailtobefulfilledortobefulfilledonschedulebecauseofobjectivereasons,suchaschangesinrelevantlaws,regulationsandpolicies,ornaturaldisasters.Exceptfortheabove-mentionedobjectivereasons,ifthecommitmentisanyhowunabletobefulfilledorfulfillingthecommitmentisnotconducivetosafeguardingtherightsandinterestsofthelistedCompany,IshouldfullydisclosethereasonsandeitherprovideanewcommitmenttothelistedCompanyandrelatedinvestorstoreplacetheoriginalone,orproposeanexemptionfromfulfillingthecommitment.9.ThecommitmentisvalidfromthedatewhenthecommitletterissignedtothetimewhenIceasetobetheactualcontrollerofthelistedCompany. | |||||
| WangZhendong,OffcnPartnership | LetterofCommitmentonavoidinghorizontal | 1.Asofthedateofsigningthisletterofcommitments,I,mycloserelatives,relatedparties,suchascompanies,enterprisesorothereconomicorganizationscontrolledby | April27,2018 | Long-term | Undernormalimple |
| competition | myselfandmycloserelatives,OffcnPartnershipandrelatedparties,suchasotherenterprisesoreconomicorganizationscontrolledbyOffcnPartnership,participateinnobusinesseswhicharethesame,similaroorrelatedtobusinessescompetingwiththelistedCompany,OffcnLtd.andtheiraffiliatedcompaniesandschools.ExceptforservingasadirectoratBeijingHaidianDistrictKairuierTrainingSchool,affiliatedtoOffcnOnline(OffcnOnlinetendstotransfertherightsofKairuierTrainingSchooltoanunrelatedthirdpartyandafterthistransfer,WangZhendongwillnotholdthepostasadirector.),Ineitherholdsanyfull-timeorpart-timepositionsnorprovidesconsultancyatanycompaniesorenterpriseswhichconductscompetitivebusinesseswiththelistedCompany,OffcnLtd.andtheiraffiliates.serveasaconsultantorapart-timeemployeeinothercompaniesorenterprisesthatposecompetitionsagainstthelistedCompany,OffcnLtd.anditsaffiliates.Idonotdirectlyorindirectlyholdtheequityofancompanyorentitythatrunsthesame,similarorrelevantbusinessengagedbythelistedCompany,OffcnLtd.anditsaffiliates.2.Afterthecompletionoftransaction,I/OffcnPartnershippromisethatduringthetimeofbeingshareholdersofthelistedCompany,I,mycloserelativesandotherrelatedparties,suchascompanies,enterprisesorothereconomicorganizations,controlledbymyselfandmycloserelatives，OffcnPartnershipandrelatedparties,suchasotherenterprisesoreconomicorganizationscontrolledbyOffcnPartnership,shallnotinanyway(includingbutnotlimitedtoselfoperatedorwithotherpartiestooperatejointventure,cooperation,jointoperation,investment,mergence,andtrusteeoperationhomeandaboard)engageinthesame,similar,relatedandcompetitivebusinesseswiththelistedCompany,whichincludesthefollows:Iwillnotdirectlyorindirectlyoperate,participateinorassistotherstoconductsame,similarbusinessesorothereconomicactivitieswhichdirectlyorindirectlyconstituteacompetitiverelationshipwithbusinessescurrentlyoperatedbythelistedCompanyanditsaffiliatedcompanies.2..IwillnotdirectlyorindirectlyinvestonanyeconomicentitieswhosebusinessesconstituteadirectorindirectcompetitiverelationshipwiththelistedCompanyanditsaffiliates.3.Iwillnotbehiredbyanycompetitorsthatdirectlyorindirectlycompetewiththe | mentation |
| listedCompanyanditsaffiliates,orprovideanyadvice,assistanceorbusinessopportunitiesdirectlyorindirectlytosuchcompetitors;.4.Iwillnotinstigate,mislead,encourageorotherwiseinduce,persuade,orcoercetheemployeesormanagementpersonnelinthelistedCompanyanditsaffiliatestoterminatetheirlabororemploymentrelationshipwiththeCompanyanditsaffiliates.5.IwillnoturgeotherstohireemployeesormanagementpersonnelfromthelistedCompanyanditsaffiliates.3.I/OffcnPartnershippromisethatifI,mycloserelativesandotherrelatedparties,suchascompanies,enterprisesorothereconomicorganizationscontrolledbymyselfandmycloserelatives,OffcnPartnershipandrelatedparties,suchasotherenterprisesoreconomicorganizationscontrolledbyOffcnPartnership,obtainanybusinessopportunitiesfromanythirdparty,whichcanormaycompetewiththelistedCompanyanditsaffiliatesinthefuture,I/OffcnPartnershipwillimmediatelynotifythelistedCompany.Afterobtainingthethirdparty’spromise,IwillattempttotransferthesebusinessopportunitiestothelistedCompanyanditsaffiliates.4.IguaranteethatIwouldneverusemyknowledgeaboutandtheinformationI’mawareofthelistedCompanyanditsaffiliatestoassistthirdpartiestoengage,participate,orinvestinbusinessesorprojectsthatcompetewiththelistedcompaniesanditsaffiliates.IfI/OffcnPartnershipshallbeliableforalllossescausedtothelistedCompanyanditsaffiliatesduetomy/OffcnPartnership’sfailureinfulfillingcommitments. | |||||
| LiYongxin,LuZhongfang | LetterofCommitmentonreducingandregulatingrelated-partytransactions | 1.Afterthetransactioniscompleted,duringthetimeofbeingtheactualcontrollerofthelistedCompany,I,mycloserelativesandothercompanies,enterprisesorothereconomicorganizationscontrolledbymyself,mycloserelativeswilltrytoavoidandreducetherelated-partytransactionswiththelistedCompanyanditsaffiliates;unlessitisnecessaryforthebusinessdevelopmentofthelistedCompany,anyrelated-partytransactionswiththelistedCompanyanditsaffiliateswillnotbeconducted.2.Afterthetransactioniscompleted,fortherelated-partytransactionswhichareunavoidableorreasonabletohappenwiththelistedCompanyanditsaffiliates,I,mycloserelativesandothercompanies,enterprisesoreconomicorganizationscontrolledbymyselfandmycloserelatives,willsignrelated-partytransactionagreementswiththelistedCompanyanditsaffiliatesinaccordancewiththerelevantlaws,regulationsand | Jul.27,2018 | Long-term | Undernormalimplementation |
| regulatorydocumentsandfollowthegeneralbusinessprinciplesofequality,willingness,equivalenceandpaid-use.Thepricesofrelated-partytransactionsshallbefair.Decision-makingprocedures,lawfulinformationdisclosureobligationsandrelevantreportingandapprovalproceduresregardingtherelated-partytransactions,shallbefollowed.ThestatusofshareholdersshallnotbeusedtodamagethelegitimaterightsandinterestsofthelistedCompanyandothershareholders.3.Afterthecompletionofthetransaction,Iwillnotusetheshareholders’rightsofthelistedCompanytomanipulateorinstructthelistedCompanyoritsdirectors,supervisorsandseniorexecutivestomakethelistedCompanyprovideoracceptfunds,commodities,servicesorotherassetsunderinequalconditionsorengageinanybehaviorsthatwoulddamagetheinterestsofthelistedcompanies.4.Iwillurgemycloserelativesandothercompanies,enterprisesandothereconomicorganizationscontrolledbymyselfandmycloserelativestoabidebytheaforementionedcommitments.5.IfI,mycloserelativesandothercompanies,enterprisesandothereconomicorganizationscontrolledbymyselfandmycloserelativesviolatetheabovecommitments,theprofitsobtainedbytheviolationofcommitmentsbelongtothelistedCompany,andIshallbeliableforalllossescausedtothelistedCompanyanditsaffiliates.Within30workingdayssincereceivingthewrittennoticefromthelistedCompany,compensationwillbemadeincash.6.ThecommitmentisvalidfromthedatewhenitissignedtothetimewhenIceasetobetheactualcontrollerofYaxiaAutoandthereisnootherrelatedrelationshipwithYaxiaAuto. | |||||
| WangZhendong,AerospaceIndustry,OffcnPartnership | LetterofCommitmentonreducingandregulatingrelated-partytransactions | 1.Afterthecompletionoftransaction,duringtheperiodofbeingtheactualcontroller/shareholder，I,mycloserelativesandothercompanies,enterprisesorothereconomicorganizationscontrolledbymyself,mycloserelatives，AerospaceIndustryorOffcnPartnership,willtrytoavoidandreducetherelated-partytransactionswiththelistedCompany.2.Afterthetransactioniscompleted,fortherelated-partytransactionswhichareunavoidableorreasonabletohappenwiththelistedCompanyanditsaffiliates,myself,mycloserelativesandothercompanies,enterprisesor | April27,2018 | Long-term | Undernormalimplementation |
SectionII.Thenon-operatingcapitaloccupationofthelistedCompanybythecontrollingshareholderanditsrelatedparties
Applicable√NotapplicableDuringthereportingperiod,therewasnonon-operatingcapitaloccupationofthelistedCompanybythecontrollingshareholderanditsrelatedparties.SectionIII.llegalProvisionofGuaranteesforExternalParties
Applicable√NotapplicableDuringthereportingperiod,therewasnoillegalprovisionofguaranteesforexternalparties.
| economicorganizationscontrolledbymyselfandmycloserelatives,AerospaceIndustryorOffcnPartnership,willsignrelated-partytransactionagreementswiththelistedCompanyanditsaffiliatesinaccordancewiththerelevantlaws,regulationsandregulatorydocumentsandfollowthegeneralbusinessprinciplesofequality,willingness,equivalenceandpaid-use.Thepricesofrelated-partytransactionsshallbefair.Decision-makingprocedures,lawfulinformationdisclosureobligationsandrelevantreportingandapprovalproceduresregardingtherelated-partytransactions,shallbefollowed.ThestatusofshareholdersshallnotbeusedtodamagethelegitimaterightsandinterestsofthelistedCompanyandothershareholders.3.Afterthecompletionofthetransaction,I/AerospaceIndustry/OffcnPartnershipwillnotusetheshareholders’rightsofthelistedCompanytomanipulateorinstructthelistedCompanyorthedirectors,supervisorsandseniorexecutivesofthelistedCompanytomakethelistedCompanyprovideoracceptfunds,commodities,servicesorotherassetsindifferentformsunderunequalconditionsorengageinanybehaviorsthatwoulddamagetheinterestsoflistedcompanies.I/AerospaceIndustry/OffcnPartnershipshallbeliableforalllossescausedtothelistedCompanyanditsaffiliatesduetomy/AerospaceIndustry’s/OffcnPartnership’sfailuresinfulfillingcommitments. | |||
| Whetherthecommitmentsarefulfilledontime | Yes | ||
SectionIV.AppointmentanddismissaloftheCPAfirm
Hasthesemi-annualfinancialreportbeenaudited?Applicable√NotapplicableThesemi-annualfinancialreporthasnotbeenauditedyet.
SectionV.ExplanationsprovidedbytheBoardofDirectorsandtheSupervisoryCommitteeregardingthe“non-standardauditreport”issuedbytheauditorforthereportingperiodApplicable√Notapplicable
SectionVI.ExplanationsprovidedbytheBoardofDirectorsregardingthe“non-standardauditreport”issuedbytheauditorforthelastyear
Applicable√Notapplicable
SectionVII.BankruptcyandReorganization
Applicable√NotapplicableTherewasnosuchsituationfortheCompanyduringthereportingperiod.
SectionVIII.MajorlitigationandarbitrationmattersApplicable√NotapplicableThereisnosuchsituationoflitigationandarbitration.Duringthereportingperiod,otherlitigationandarbitrationmattersoftheCompanyanditssubsidiariesareasfollows:
1.Duringthereportingperiod,theamountoflitigationinvolvedinclosedcaseswasRMB12.7113million,andtheactualamountofjudgmentsineffectivelegaldocumentswasapproximatelyRMB1.3236million.TheresultsofthelitigationhadnosignificantimpactontheCompany'soperations;
2.Attheendofthereportingperiod,theamountoflitigationinvolvedinunsettledcaseswasRMB5.6326millionandtheamountoflitigationinvolvedinpendingcasesaccountedfor0.13%oftheauditednetassetsattributabletoshareholdersofthelistedCompanyin2020,whichhadnosignificantimpactontheCompany'soperations.SectionIX.Punishmentandrectification
Applicable√NotapplicableThereisnosuchsituationofpunishmentandrectificationoftheCompanyduringthereportingperiod
SectionX.IntegrityoftheCompanyanditscontrollingshareholdersandactualcontrollers:
Applicable√NotapplicableSectionXI.Significantrelatedtransactions
1.Related-partytransactionsrelevanttoroutineoperationsApplicable√NotapplicableThereisnosuchsituationofrelated-partytransactionsrelevanttoroutineoperations.oftheCompanyduringthe
reportingperiod.
2.RelatedpartytransactionsarisingfromacquisitionandsaleofassetsorequityApplicable√NotapplicableThereisnosuchsituationofrelated-partytransactionsarisingfromacquisitionandsaleofassetsorequityoftheCompanyduringthereportingperiod.
3.Related-partytransactionsofjointforeigninvestmentsApplicable√NotapplicableThereisnosuchsituationofrelated-partytransactionsofjointforeigninvestmentsoftheCompanyduringthereportingperiod.
4.RelatedcreditanddebttransactionsApplicable√NotapplicableThereisnosuchsituationofRelatedcreditanddebttransactionsoftheCompanyduringthereportingperiod.
5.TransactionswithrelatedfinancialcompaniesandfinancialcompaniescontrolledbytheCompanyApplicable√NotapplicableNodeposits,loans,creditsorotherfinancialbusinessbetweentheCompanyandtherelatedfinancialcompaniesandfinancialcompaniescontrolledbytheCompanyandrelatedparties.
6.Othersignificantrelated-partytransactionsApplicable√Notapplicable
SectionXII.Majorcontractsandtheirperformance
1.Trusteeship,contractingandleasingmatters
(1)Trusteeshipsituation
√ApplicableNotapplicableExplanationsontrusteeshipsituationOnSeptember20,2018,OffcnLtd.andLiYongxinsignedAgreementonTransferofOrganizer’sRightsofPrivateSchoolsforNon-AcademicQualificationsAffiliatedtoBeijingOffcnEducationTechnologyCo.,Ltd..All100%rightsoforganizersasofSeptember20,2018weretobetransferredtoLiYongxin.Onthesameday,LiYongxinandOffcnLtd.signedtheTrusteeshipAgreementofPrivateSchoolsstipulatingthatLiYongxinwouldentrustthetransferredprivateschoolstoOffcnLtd.formanagement.TheperiodoftrusteeshipstartedfromthedatewhenLiYongxinpaidallthetransferpricetothedaywhentheprivateschools’100%rightsoforganizersweretransferredtotheunrelatedthirdpartyorcanceled(Note:within12monthsaftertherevisedImplementationRegulationswasofficiallypromulgatedandtherelevantlocaleducationauthoritiespassedthesupportingregulationsinaccordancewiththerevisedImplementationRegulations,LiYongxintransferred100%oftheowner’srightstotheunrelatedthirdpartyorcanceledthem.)
Projectswithtrusteeshipthatprofitsorlossesreachedmorethan10%ofthetotalprofitsoftheCompanyApplicable√NotapplicableTherewasnoprojectwithtrusteeshipthatprofitsorlossesreachedmorethan10%ofthetotalprofitsoftheCompanyduringthereportingperiod.
(2)ContractingsituationApplicable√NotapplicableTherewasnocontractingsituationoftheCompanyduringthereportingperiod.
(3)LeasingsituationTherewasnoleasingsituationoftheCompanyduringthereportingperiod.
2.MajorguaranteeApplicable√NotapplicableTherewasnomajorguaranteeoftheCompanyduringthereportingperiod.
3.Explanationsonentrustedfinancialmanagement
√ApplicableNotapplicableExplanationsonentrustedfinancialmanagementduringthereportingperiod
Unit:RMB10thousands
| Types | Sourcesofentrustedfinancing | Amountofentrustedfinancing | UndueBalance | Overdueamountyettoberecovered | ImpairmentProvisionofOverdueOutstandingFunds |
| BankFinancialProduct | Self-ownedfund | 126,155.00 | 14,060.00 | 0 | 0 |
| TrustFinancialProducts | Self-ownedfund | 27,000.00 | 17,000.00 | 0 | 0 |
| Others | Self-ownedfund | 999.90 | 999.90 | 0 | 0 |
| Total | 154,154.90 | 32,059.90 | 0 | 0 | |
Particularsofhigh-riskentrustedfinancialmanagementwithalargesingleamount,lowsecurity,poorliquidityornocapitalprotectionApplicable√NotapplicableEntrustedfinancingisoverdueandtheprincipalcannotberecoveredorthereareothercasesthatmaycauseimpairments.Applicable√Notapplicable
4.MajorcontractofdailybusinessoperationApplicable√Notapplicable
5.Othersignificantcontract
√ApplicableNotapplicable
SectionXIII.Othersignificantevents
√ApplicableNotapplicableTheprogressoftheCompany’snon-publicmatters:
TheCompanyheldtheCompany’sboardofdirectors,boardofsupervisors,andthethirdextraordinarygeneralmeetingofshareholdersin2020onNovember23,2020andDecember9,2020,reviewedandapprovedtheProposalontheCompany’sCompliancewiththeConditionsforNon-publicIssuanceofAShares,ProposalontheCompany’sPlanofNon-PublicIssuanceofAShares,andProposalontheCompany'sProposalofNon-PublicIssuanceofASharesandotherproposalsrelatedtothisnon-publicissuance.OnDecember30,2020,theCompanyannouncedtheAnnouncementontheAcceptanceofApplicationsforNon-publicIssuanceofSharesbytheChinaSecuritiesRegulatoryCommission(AnnouncementNo.:2020-052).OnJanuary8,2021,theCompanyannouncedtheNoticeonReceivingtheFirstFeedbackfromtheChinaSecuritiesRegulatoryCommission'sAdministrativeLicensingProjectReview(AnnouncementNumber:
2021-002).OnJanuary27,2021,theCompanyannouncedtheReportontheReplytotheFirstFeedbackNoticefromtheChinaSecuritiesRegulatoryCommissionAdministrativeLicensingProjectReviewandotherdocuments.Onthesameday,theCompanyalsoannouncedtheadjustmentstothenon-publicissuanceplanincludingtheRevisedProposalforNon-publicIssuanceofASharesreviewedandapprovedatthe17thmeetingoftheFifthBoardofDirectorsandthe14thMeetingoftheFifthSupervisoryCommittee.OnMay18,2021,theCompanyannouncedtheAnnouncementontheRevisedReplytotheFirstFeedbackNoticefromtheChinaSecuritiesRegulatoryCommissionAdministrativeLicensingProjectReview,theNoticeonReceivingtheSecondFeedbackfromtheChinaSecuritiesRegulatoryCommission'sAdministrativeLicensingProjectReviewandotherdocuments.OnMay29,2021,theCompanyannouncedtheReportontheReplytotheSecondFeedbackNoticefromtheChinaSecuritiesRegulatoryCommissionAdministrativeLicensingProjectReviewandotherdocuments.Onthesameday,theCompanyalsoannouncedtheadjustmentstothenon-publicissuanceplanincludingtheSecondRevisedProposalforNon-publicIssuanceofASharesreviewedandapprovedatthe19thmeetingoftheFifthBoardofDirectorsandthe16thMeetingoftheFifthSupervisoryCommittee.OnJune5,2021,theCompanyissuedtheAnnouncementontheRevisedReplytotheSecondFeedbackNoticefromtheChinaSecuritiesRegulatoryCommissionAdministrativeLicensingProjectReviewandotherdocuments.
OnJune16,2021,theCompany’snon-publicmatterswerereviewedandapprovedbytheIssuanceReviewCommitteeoftheChinaSecuritiesRegulatoryCommission.Regardingthefollow-upprogressoftheCompany'snon-publicissuanceofshares,theCompanywillperformitsinformationdisclosureobligationsinatimelymannerinaccordancewiththerequirementsofrelevantlawsandregulations.Forotherimportantannouncements,pleaserefertothefollowingstatementsandindexes:
| Nameofannouncement | Dateofdisclosure | Websiteofannouncementdisclosure |
| AnnouncementontheReplytotheFirstFeedbackNoticefromtheChinaSecuritiesRegulatoryCommissionAdministrativeLicensingProjectReview | 2021/1/27 | CNINFO（http://www.cninfo.com.cn） |
| AnnouncementontheNon-PublicIssuanceofAsharestoDiluteImmediateReturns,theCompany'sRemedialMeasuresandCommitmentsofRelatedEntities(reviseddraft) | 2021/1/27 | CNINFO（http://www.cninfo.com.cn） |
| AnnouncementonAdjustmenttothePlanofNon-PublicIssuanceofAShares | 2021/1/27 | CNINFO（http://www.cninfo.com.cn） |
| InformativeAnnouncementontheListingandCirculationofSomeRestrictedShares | 2021/1/29 | CNINFO（http://www.cninfo.com.cn） |
| SpecialNoteonNoProfitDistributionin2020 | 2021/4/29 | CNINFO（http://www.cninfo.com.cn） |
| AnnouncementontheExpectedDailyConnectedTransactionQuotain2021 | 2021/4/29 | CNINFO（http://www.cninfo.com.cn） |
| AnnouncementontheCompanyandItsSubsidiariesUsingTheirOwnFundsforCashManagement | 2021/4/29 | CNINFO（http://www.cninfo.com.cn） |
| AnnouncementontheConfirmationoftheCompany'sDirectors,SupervisorsandSeniorExecutives’RemunerationPlanin2021 | 2021/4/29 | CNINFO（http://www.cninfo.com.cn） |
| AnnouncementonChangesinAccountingPolicies | 2021/4/29 | CNINFO（http://www.cninfo.com.cn） |
| AnnouncementontheRenewalofHiringtheAccountingFirm | 2021/4/29 | CNINFO（http://www.cninfo.com.cn） |
| AnnouncementontheCompanyandItsSubsidiariesApplyingforaGeneralCreditLimitFromtheBank | 2021/4/29 | CNINFO（http://www.cninfo.com.cn） |
| AnnouncementontheDifferenceBetweenActualNetProfitandCommittednetProfitofBeijingOffcnEducationTechnologyCo.,Ltd.in2020 | 2021/4/29 | CNINFO（http://www.cninfo.com.cn） |
| AnnouncementontheRevisedReplytotheFirstFeedbackNoticefromtheChinaSecuritiesRegulatoryCommissionAdministrativeLicensingProjectReview | 2021/5/18 | CNINFO（http://www.cninfo.com.cn） |
| AnnouncementonReceivingtheSecondFeedbackNoticefromtheChinaSecuritiesRegulatoryCommission'sAdministrativeLicensingProjectReview | 2021/5/18 | CNINFO（http://www.cninfo.com.cn） |
| AnnouncementontheReplytotheSecondFeedbackNoticefromtheChinaSecuritiesRegulatoryCommissionAdministrativeLicensingProjectReview | 2021/5/29 | CNINFO（http://www.cninfo.com.cn） |
| AnnouncementontheNon-PublicIssuanceofAsharestoDiluteImmediateReturns,theCompany'sRemedialMeasuresandCommitmentsofRelatedEntities(2ndreviseddraft) | 2021/5/29 | CNINFO（http://www.cninfo.com.cn） |
| AnnouncementonAdjustmenttothePlanofNon-PublicIssuanceofAShares | 2021/5/29 | CNINFO（http://www.cninfo.com.cn） |
| Announcementontheadditionofprovisionalproposalandsupplementarynoticetothe2020AnnualGeneralMeetingofShareholdersoftheCompany | 2021/6/3 | CNINFO（http://www.cninfo.com.cn） |
| AnnouncementontheRevisedReplytotheSecondFeedbackNoticefromtheChinaSecuritiesRegulatoryCommissionAdministrativeLicensingProjectReview | 2021/6/5 | CNINFO（http://www.cninfo.com.cn） |
| AnnouncementontheAnalysisoftheImpactofAmendmenttotheRegulationsfortheImplementationoftheLawonthePromotionofPrivateEducationonOffcnEdu | 2021/6/9 | CNINFO（http://www.cninfo.com.cn） |
| AnnouncementontheApprovalofNon-PublicIssuanceofASharesbytheIssuanceReviewCommitteeofChinaSecuritiesRegulatoryCommission | 2021/6/16 | CNINFO（http://www.cninfo.com.cn） |
SectionXIV.SignificanteventsoftheCompany’ssubsidiaries
Applicable√Notapplicable
Chapter7ShareChangesandShareholdersSectionI.ChangesinShares
1.ChangesinShares
Unit:share(s)
| BeforeChange | IncreaseorDecrease(+or-) | AfterChange | |||||||
| Numberofshares | Proportion | Newsharesissued | Bonusshares | Conversionofequityreservesintosharecapital | Other | Subtotal | Numberofshares | Proportion | |
| 1.Shareswithtradingrestrictions | 5,419,759,990 | 87.88% | -894,908,104 | -894,908,104 | 4,524,851,886 | 73.37% | |||
| (1)Sharesheldbystate | |||||||||
| (2)Sharesheldbystate-ownedlegalperson | |||||||||
| (3)Othersharesheldbydomesticcapital | 5,419,759,990 | 87.88% | -894,908,104 | -894,908,104 | 4,524,851,886 | 73.37% | |||
| Ofwhich:sharesheldbydomesticlegalperson | 534,706,341 | 8.67% | -445,588,618 | -445,588,618 | 89,117,723 | 1.44% | |||
| Sharesheldbydomesticnaturalperson | 4,885,053,649 | 79.21% | -449,319,486 | -449,319,486 | 4,435,734,163 | 71.92% | |||
| (4)Sharesheldbyoverseascapital | |||||||||
| Ofwhich:sharesheldbyoverseaslegalperson | |||||||||
| Sharesheldbyoverseasnaturalperson | |||||||||
| 2.Shareswithouttradingrestrictions | 747,639,399 | 12.12% | 894,908,104 | 894,908,104 | 1,642,547,503 | 26.63% | |||
| (1)RMBordinaryshares | 747,639,399 | 12.12% | 894,908,104 | 894,908,104 | 1,642,547,503 | 26.63% | |||
| (2)Domestic-listedsharesforoverseainvestors | |||||||||
| (3)Foreign-listedsharesforoverseasinvestors | |||||||||
| (4)Other | |||||||||
| 3.Totalnumberofshares | 6,167,399,389 | 100.00% | 0 | 0 | 6,167,399,389 | 100.00% | |||
Reasonsforchangesinshares
√Applicable□NotapplicableThesalesrestrictionsonpartofthesharesissuedbythemajorassetrestructuringwerereleasedonFebruary1,2021andthelockedsharesoftheseniorexecutiveschangedduringthereportingperiod.
Approvalofchangesinshares
□Applicable√NotapplicableTransferofsharechanges
□Applicable√NotapplicableImplementationprogressofsharerepurchase
□Applicable√NotapplicableProgressintheimplementationofthecentralizedbiddingmethodtoreducetheshareholdingrepurchase
□Applicable√NotapplicableTheimpactofsharechangesonfinancialindicatorssuchasbasicearningspershareanddilutedearningspershare,netassetspershareattributabletotheCompany’sordinaryshareholders,etc.inthemostrecentyearandthemostrecentperiod
□Applicable√NotapplicableOthercontentthattheCompanydeemsnecessaryorrequiredbythesecuritiesregulatoryagencytodisclose
□Applicable√Notapplicable
2.Changesinshareswithsalesrestrictions:
√Applicable□Notapplicable
Unit:share(s)
| Nameofshareholder | Numberofshareswithsalesrestrictionsatthebeginningoftheperiod | Numberofshareswithsalesrestrictionsreleasedintheperiod | Numberofshareswithsalesrestrictionsincreasedintheperiod | Numberofshareswithsalesrestrictionsattheendoftheperiod | Reasonsforsalesrestrictions | Dateofreleasingrestrictionsonsales |
| WangZhendong | 962,471,418 | 234,535,429 | 0 | 727,935,989 | Salesrestrictioncommitmentonsharesfrommajorreplacementofassetsandissuanceforassetspurchase | February1,2021 |
| BeijingAerospaceIndustryInvestmentFund(LimitedPartners) | 267,353,171 | 267,353,171 | 0 | 0 | Salesrestrictioncommitmentonsharesfrommajorreplacementofassetsandissuanceforassetspurchase | February1,2021 |
| BeijingGuangyinVentureInvestmentCenter(LimitedPartners) | 178,235,447 | 178,235,447 | 0 | 0 | Salesrestrictioncommitmentonsharesfrommajorreplacementofassetsandissuanceforassetspurchase | February1,2021 |
| YangShaofeng | 48,123,570 | 48,123,570 | 0 | 0 | Salesrestrictioncommitmentonsharesfrommajorreplacementofassetsandissuanceforassetspurchase | February1,2021 |
| ZhangZhian | 48,123,570 | 48,123,570 | 0 | 0 | Salesrestrictioncommitmentonsharesfrommajorreplacementofassetsandissuanceforassetspurchase | February1,2021 |
| GuoShihong | 48,123,570 | 12,030,893 | 0 | 36,092,677 | Salesrestrictioncommitmentonsharesfrommajorreplacementofassetsandissuanceforassetspurchase | February1,2021 |
| ZhangYongsheng | 48,123,570 | 12,030,893 | 0 | 36,092,677 | Salesrestrictioncommitmentonsharesfrommajorreplacementofassetsandissuanceforassetspurchase | February1,2021 |
| LiuBin | 48,123,570 | 48,123,570 | 0 | 0 | Salesrestrictioncommitmentonsharesfrommajorreplacementofassetsandissuanceforassetspurchase | February1,2021 |
| LiYongxin | 1,131,415,121 | 46,351,561 | 0 | 1,085,063,560 | Allocationoftransferrablequotabetweentrusteeshipunits | — |
| Total | 2,780,093,007 | 894,908,104 | 0 | 1,885,184,903 | — | — |
SectionII.Issuanceandlistingofsecurities
□Applicable√Notapplicable
SectionIII.NumbersofShareholdersandShareholdings
Unit:Share(s)
| Totalnumberofshareholderswithordinarysharesattheendofthereportingperiod | 87,198 | Totalnumberofpreferredshareholderswithvotingrightsrestoredattheendofthereportingperiod(ifany)(SeeNote8) | 0 | ||||||
| Shareholderswithover5%ordinarysharesortop10ordinaryshareholders | |||||||||
| Nameof | Natureof | Sharehol | Totalordinary | Increaseand | Numberof | Numberof | PledgedorFrozen | ||
| Shareholder | shareholder | dingPercentage(%) | sharesheldattheendofthereportingperiod | decreaseofsharesduringthereportingperiod | ordinarysharesheldwithsalesrestrictions | ordinarysharesheldwithoutsalesrestrictions | Statusofshares | Numberofshares |
| LuZhongfang | Domesticnaturalperson | 41.36% | 2,550,549,260 | 0 | 2,550,549,260 | 0 | Pledged | 450,000,000 |
| LiYongxin | DomesticnaturalPerson | 18.35% | 1,131,415,121 | 0 | 1,085,063,560 | 46,351,561 | Pledged | 423,501,561 |
| WangZhendong | Domesticnaturalperson | 15.51% | 956,447,318 | -6,024,100 | 727,935,989 | 228,511,329 | Pledged | 250,089,966 |
| BeijingAerospaceIndustryInvestmentFund(LimitedPartnership) | Domesticnon-state-ownedlegalperson | 4.24% | 261,280,477 | -6,072,694 | 0 | 261,280,477 | ||
| BeijingKeruiVentureInvestmentCenter(LimitedPartnership) | Domesticnon-state-ownedlegalperson | 1.44% | 89,117,723 | 0 | 89,117,723 | 0 | ||
| BeijingOffcnFutureInformationConsultingCenter(LimitedPartnership) | Domesticnon-state-ownedlegalperson | 1.30% | 80,000,000 | 0 | 0 | 80,000,000 | ||
| ZhouXiayun | Domesticnaturalperson | 1.28% | 78,848,640 | 0 | 0 | 78,848,640 | Pledged | 48,500,000 |
| ZhouHui | Domesticnaturalperson | 1.17% | 72,277,920 | 0 | 0 | 72,277,920 | Pledged | 12,410,000 |
| BeijingGuangyinVentureInvestmentCenter(LimitedPartnership) | Domesticnon-state-ownedlegalperson | 1.04% | 64,355,896 | -113,879,551 | 0 | 64,355,896 | ||
| HongKongSecuritiesClearingCo.,Ltd. | Overseaslegalperson | 1.04% | 63,981,550 | -55,267,239 | 0 | 63,981,550 | ||
| StrategicInvestorsorOrdinaryLegalPersonsBecometheTop10ShareholderswithOrdinarySharesbythereplacementofNewShares | No | |||||||
| DescriptionoftheAbove-mentioned | TheCompany'scontrollingshareholderandactualcontrollerLuZhongfangandLiYongxinareinaparent-child | |||||||
| Shareholders’RelationshiporConcertedAction | relationship.LuZhongfang,LiYongxin,andBeijingOffcnFutureInformationConsultingCenter(LimitedPartnership)constitutepersonsactinginconcert.ZhouXiayunandZhouHuihaveafather-sonrelationship.Itisunknownwhetherthereisanassociatedrelationshipamongtheabove-mentionedothershareholders,andwhethertheabove-mentionedshareholdersbelongtothepartiesactinginconcertasstipulatedintheAdministrativeMeasuresonDisclosureofInformationDisclosureofShareholdingChangesinListedCompanies. | ||
| Explanationoftheabove-mentionedshareholders’entrusting/entrustedvotingrightsandwaiverofvotingrights | N/A | ||
| \Descriptionoftop10shareholderswithordinaryShareswithoutsalesrestrictions | |||
| NameofShareholder | Numberofordinaryshareswithoutsalesrestrictionsattheendofthereportingperiod | Type | |
| Type | Quantities | ||
| WangZhendong | 228,511,329 | RMBordinaryshares | 228,511,329 |
| BeijingAerospaceIndustryInvestmentFund(LimitedPartnership) | 261,280,477 | RMBordinaryshares | 261,280,477 |
| BeijingOffcnFutureInformationConsultingCenter(LimitedPartnership) | 80,000,000 | RMBordinaryshares | 80,000,000 |
| ZhouXiayun | 78,848,640 | RMBordinaryshares | 78,848,640 |
| ZhouHui | 72,277,920 | RMBordinaryshares | 72,277,920 |
| BeijingGuangyinVentureInvestmentCenter(LimitedPartnership) | 64,355,896 | RMBordinaryshares | 64,355,896 |
| HongKongSecuritiesClearingCo.,Ltd. | 63,981,550 | RMBordinaryshares | 63,981,550 |
| ZhouLi | 48,185,280 | RMBordinaryshares | 48,185,280 |
| LiYongxin | 46,351,561 | RMBordinaryshares | 46,351,561 |
| ChinaMerchantsBank-BankofCommunicationsSchroderNewGrowthHybridSecuritiesInvestmentFund | 43,815,910 | RMBordinaryshares | 43,815,910 |
| Descriptionoftherelationshiporconcertedactionamongthetop10shareholdersofordinaryshareswithoutrestrictionson,and | Thecompany'scontrollingshareholderandactualcontrollerLuZhongfangandLiYongxinareinaparent-childrelationship.LuZhongfang,LiYongxin,andBeijingOffcnFutureInformationConsultingCenter(LimitedPartnership)constitutepersonsactinginconcert.ZhouXiayunandZhouHuihaveafather-sonrelationship.Itis | ||
| betweenthetop10shareholdersofordinaryshareswithoutrestrictionandthetop10shareholdersofordinaryshares | unknownwhetherthereisanassociatedrelationshipamongtheabove-mentionedothershareholders,andwhethertheabove-mentionedshareholdersbelongtothepartiesactinginconcertasstipulatedintheAdministrativeMeasuresonDisclosureofInformationDisclosureofShareholdingChangesinListedCompanies. |
| DescriptionoftheTop10OrdinaryShareholdersParticipatingintheMargintrading(ifany) | N/A |
Whetherthecompany’stop10ordinaryshareholdersandtop10ordinaryshareholderswithoutrestrictionsconductedagreedrepurchasetransactionsduringthereportingperiod
□Yes√NoThecompany’stop10ordinaryshareholdersandtop10ordinaryshareholderswithoutrestrictionsdidn’tconductagreedrepurchasetransactionsduringthereportingperiodSectionIV.Changesinsharesheldbydirectors,supervisorsandseniorexecutives
√Applicable□Notapplicable
| Name | Title | Tenurestatus | Sharesheldatthebeginningoftheperiod(share) | QuantityOfsharesincreasedinthecurrentperiod(share) | Otherincreasedordecreasedchanges(share) | Quantityofsharesheldattheendoftheperiod(share) | Quantityofrestrictedsharesgrantedatthebeginningoftheperiod | Quantityofrestrictedsharesgrantedincurrentperiod | Quantityofrestrictedsharesgrantedattheendoftheperiod |
| WangZhendong | Director,generalmanager | Incumbent | 962,471,418 | 0 | 6,024,100 | 956,447,318 | 0 | 0 | 0 |
| Total | -- | -- | 962,471,418 | 0 | 6,024,100 | 956,447,318 | 0 | 0 | 0 |
SectionV.Changeofcontrollingshareholderoractualcontroller
ChangeofcontrollingshareholderinthereportingperiodApplicable√NotapplicableControllingshareholderdidnotchangeduringthereportingperiod.ChangeofactualcontrollerduringthereportingperiodApplicable√NotapplicableTheactualcontrollerdidnotchangeduringthereportingperiod.
Chapter8PreferredShares
□Applicable√NotapplicableTherewerenopreferredsharesduringthereportingperiod.
Chapter9CorporateBonds
□Applicable√Notapplicable
Chapter10FinancialStatements
SectionI.Auditor’sReport
Whetheraudithasbeenperformedonthissemi-annualfinancialreport.
□Yes√NoTheCompany’s2021semi-annualfinancialreporthasnotbeenaudited.SectionII.FinancialStatementTheunitofstatementinfinancialnotesis:RMB
1.ConsolidatedBalanceSheetCompany:OffcnEducationTechnologyCo.,Ltd.
June30,2021
Unit:RMB
| Item | June30,2021 | December31,2020 |
| Currentassets: | ||
| Monetaryfunds | 3,560,568,685.18 | 5,950,395,089.12 |
| Settlementreserve | ||
| Lendings | ||
| Transactionalfinancialassets | 178,565,832.93 | 983,205,858.25 |
| Derivativefinancialassets | ||
| Notesreceivable | ||
| Accountsreceivable | 32,423,539.80 | 21,493,637.66 |
| Receivablesfinancing | ||
| Prepayments | 1,540,010.00 | 2,204,120.00 |
| Premiumreceivable | ||
| Accountsreceivablereinsurance | ||
| Reserveforreinsurancereceivablecontracts | ||
| Otherreceivables | 382,044,846.69 | 304,318,966.20 |
| Including:interestreceivable | ||
| Dividendreceivable | ||
| Buyingbackthesaleoffinancialassets | ||
| Inventory | ||
| Contractassets |
| Assetsheld-for-sale | ||
| Non-currentassetsduewithinoneyear | 20,027,866.69 | 1,985,873,462.75 |
| Othercurrentassets | 988,720,230.46 | 175,179,650.61 |
| Totalcurrentassets | 5,163,891,011.75 | 9,422,670,784.59 |
| Non-currentassets: | ||
| Loansandadvances | ||
| Debtinvestment | ||
| Otherdebtinvestment | ||
| Long-termreceivables | ||
| Long-termequityinvestment | ||
| Otherequityinvestment | 152,800,000.00 | 152,800,000.00 |
| Othernon-currentfinancialassets | 210,299,205.48 | 208,450,315.01 |
| Investmentproperty | 657,723,948.43 | 668,014,515.82 |
| Fixedassets | 1,580,386,983.37 | 1,612,792,592.67 |
| Constructioninprogress | 256,986,886.10 | 214,248,125.04 |
| Productivebiologicalassets | ||
| Oilandgasassets | ||
| Right-of-useasset | 1,345,123,513.84 | |
| Intangibleassets | 515,387,722.09 | 426,352,455.75 |
| Developmentexpenditure | ||
| Goodwill | 99,867,720.38 | 99,867,720.38 |
| Long-termprepaidexpenses | 403,141,170.81 | 440,955,377.93 |
| Deferredtaxassets | 21,841,285.69 | 21,606,436.77 |
| Othernon-currentassets | 3,763,316,852.36 | 1,151,091,703.31 |
| Totalnon-currentassets | 9,006,875,288.55 | 4,996,179,242.68 |
| Totalassets | 14,170,766,300.30 | 14,418,850,027.27 |
| Currentliabilities: | ||
| Short-termloan | 3,875,201,272.25 | 3,976,019,329.22 |
| Borrowingfromthecentralbank | ||
| Borrowingsfrombanksandotherfinancialinstitutions | ||
| Transactionalfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable |
| Accountspayable | 149,870,791.22 | 211,824,402.86 |
| Depositreceived | ||
| Contractliabilities | 4,228,504,433.91 | 4,925,428,309.33 |
| Financialassetssoldforrepurchase | ||
| Absorbingdepositsandinterbankdeposits | ||
| Actingtradingsecurities | ||
| Actingunderwritingsecurities | ||
| Payrollpayable | 371,640,434.73 | 637,448,433.99 |
| Taxespayable | 43,165,616.53 | 131,111,770.78 |
| Otherpayable | 51,658,574.07 | 9,479,383.03 |
| Including:interestpayable | ||
| Dividendpayable | ||
| Feesandcommissionspayable | ||
| Reinsuranceaccountspayable | ||
| Liabilitiesheld-for-sale | ||
| Non-currentliabilitiesduewithinoneyear | 507,142,087.47 | |
| Othercurrentliabilities | 126,855,133.02 | 147,765,156.66 |
| Totalcurrentliabilities | 9,354,038,343.20 | 10,039,076,785.87 |
| Non-currentliabilities: | ||
| Insurancecontractreserve | ||
| Long-termloan | ||
| Bondspayable | ||
| Bondspayable_preferredstock | ||
| Bondspayable_perpetualbond | ||
| Leaseliability | 534,044,069.15 | |
| Long-termpayables | ||
| Long-termsalarypayable | ||
| Estimatedliabilities | ||
| Deferredincome | ||
| Deferredtaxliability | 104,752,688.88 | 104,677,444.59 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 638,796,758.03 | 104,677,444.59 |
| TotalLiabilities | 9,992,835,101.23 | 10,143,754,230.46 |
| Owners'equity: |
| Sharecapital | 103,807,623.00 | 103,807,623.00 |
| Otherequityinstruments | ||
| Otherequityinstruments_preferredstock | ||
| Otherequityinstruments_perpetualbond | ||
| Capitalreserve | 1,225,481,049.50 | 1,225,481,049.50 |
| Less:Treasurystock | ||
| Othercomprehensiveincome | 30,000,000.00 | 30,000,000.00 |
| Specialreserve | ||
| Surplusreserves | 45,000,000.00 | 45,000,000.00 |
| Generalriskpreparation | ||
| Undistributedprofits | 2,773,676,611.67 | 2,870,839,120.70 |
| Totalowner'sequityattributabletotheparentcompany | 4,177,965,284.17 | 4,275,127,793.20 |
| Minorityshareholders'equity | -34,085.10 | -31,996.39 |
| Owners'equity | 4,177,931,199.07 | 4,275,095,796.81 |
| Liabilitiesandowner'sequity | 14,170,766,300.30 | 14,418,850,027.27 |
Legalrepresentative:WangZhendongPersoninchargeofaccounting:ShiLeiHeadofaccountingdepartment:LuoXue
2.Parentcompanybalancesheet
Unit:RMB
| Item | June30,2021 | December31,2020 |
| Currentassets: | ||
| Monetaryfunds | 111,675,390.64 | 56,138,356.37 |
| Transactionalfinancialassets | 1,653,627.28 | 1,630,453.37 |
| Derivativefinancialassets | ||
| Notesreceivable | ||
| Accountsreceivable | 21,668,679.91 | 14,792,320.38 |
| Receivablesfinancing | ||
| Prepayments | ||
| Otherreceivables | 528,158,760.42 | 621,900,443.29 |
| Including:interestreceivable | ||
| Dividendreceivable | ||
| Inventory | ||
| Contractassets | ||
| Assetsheld-for-sale |
| Non-currentassetsduewithinoneyear | ||
| Othercurrentassets | ||
| Totalcurrentassets | 663,156,458.25 | 694,461,573.41 |
| Non-currentassets: | ||
| Debtinvestment | ||
| Otherdebtinvestment | ||
| Long-termreceivables | ||
| Long-termequityinvestment | 18,582,307,907.14 | 18,582,307,907.14 |
| Otherequityinvestment | 152,800,000.00 | 152,800,000.00 |
| Othernon-currentfinancialassets | ||
| Investmentproperty | 376,285,034.81 | 384,641,527.88 |
| Fixedassets | 379,420,929.98 | 383,060,000.00 |
| Constructioninprogress | 72,569,103.57 | 72,569,103.57 |
| Productivebiologicalassets | ||
| Oilandgasassets | ||
| Right-of-useassets | ||
| Intangibleassets | ||
| Developmentexpenditure | ||
| Goodwill | ||
| Long-termprepaidexpenses | ||
| Deferredtaxassets | 20,720,161.43 | 20,529,151.44 |
| Othernon-currentassets | 501,095,111.10 | 501,095,111.10 |
| Totalnon-currentassets | 20,085,198,248.03 | 20,097,002,801.13 |
| Totalassets | 20,748,354,706.28 | 20,791,464,374.54 |
| Currentliabilities: | ||
| Short-termloan | 1,301,276,472.26 | 871,083,875.00 |
| Transactionalfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | 83,621,752.26 | 83,621,752.26 |
| Depositreceived | ||
| Contractliabilities | ||
| Payrollpayable | ||
| Taxespayable | 1,448,248.34 | 1,437,291.71 |
| Otherpayable | 6,933,161.99 | 446,606,530.72 |
| Including:interestpayable | ||
| Dividendpayable | ||
| Liabilitiesheld-for-sale | ||
| Non-currentliabilitiesduewithinoneyear | ||
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 1,393,279,634.85 | 1,402,749,449.69 |
| Non-currentliabilities: | ||
| Long-termloan | ||
| Bondspayable | ||
| Bondspayable_preferredstock | ||
| Bondspayable_perpetualbond | ||
| Leaseliability | ||
| Long-termpayables | ||
| Long-termsalarypayable | ||
| Estimatedliabilities | ||
| Deferredincome | ||
| Deferredtaxliability | 10,013,406.82 | 10,007,613.34 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 10,013,406.82 | 10,007,613.34 |
| TotalLiabilities | 1,403,293,041.67 | 1,412,757,063.03 |
| Owners'equity: | ||
| Sharecapital | 6,167,399,389.00 | 6,167,399,389.00 |
| Otherequityinstruments | ||
| Otherequityinstruments_preferredstock | ||
| Otherequityinstruments_perpetualbond | ||
| Capitalreserve | 12,775,326,370.33 | 12,775,326,370.33 |
| Less:Treasurystock | ||
| Othercomprehensiveincome | 30,000,000.00 | 30,000,000.00 |
| Specialreserve | ||
| Surplusreserves | 387,458,806.65 | 387,458,806.65 |
| Undistributedprofits | -15,122,901.37 | 18,522,745.53 |
| Owners'equity | 19,345,061,664.61 | 19,378,707,311.51 |
| Liabilitiesandowner'sequity | 20,748,354,706.28 | 20,791,464,374.54 |
3.ConsolidatedIncomeStatement
Unit:RMB
| Item | Firsthalfyearof2021 | Firsthalfyearof2020 |
| I.Totaloperatingincome | 4,855,998,263.50 | 2,807,980,480.60 |
| Including:operatingincome | 4,855,998,263.50 | 2,807,980,480.60 |
| Interestincome | ||
| Premiumearned | ||
| Feeandcommissionincome | ||
| II.Totaloperatingcosts | 5,085,316,223.70 | 3,244,547,876.16 |
| Including:operatingcost | 2,684,951,238.24 | 1,452,611,180.39 |
| Interestexpense | ||
| Feeandcommissionexpenses | ||
| Surrendermoney | ||
| Netreimbursementexpenditure | ||
| Withdrawalofnetinsuranceliabilitycontractreserves | ||
| Policyholderdividendexpenses | ||
| Reinsuranceexpenses | ||
| Taxesandsurcharges | 15,817,550.99 | 6,277,633.04 |
| Salesexpenses | 975,972,472.83 | 700,817,453.92 |
| Managementexpenses | 607,894,812.80 | 518,959,454.14 |
| R&Dexpenses | 542,875,812.43 | 383,227,531.01 |
| Financialexpenses | 257,804,336.41 | 182,654,623.66 |
| Including:interestexpenses | 126,914,597.79 | 85,130,012.11 |
| Interestincome | 24,674,100.13 | 2,889,907.48 |
| Add:otherincome | 63,597,930.11 | 84,454,707.44 |
| Investmentincome(Lossislistedwith“-”) | 61,423,487.06 | 128,818,126.44 |
| Including:investmentincomefromassociatesandjointventures | ||
| Derecognitionincomeoffinancialassetsmeasuredatamortizedcost | ||
| Exchangeearnings(Lossislistedwith“-”) | ||
| Netexposurehedgeincome(Lossislistedwith“-”) | ||
| Fairvaluechangeincome(Lossislistedwith“-”) | 9,068,865.15 | |
| Expectedcreditloss(Lossislistedwith“-”) | -1,449,153.75 | -770,761.79 |
| Assetimpairmentloss(Lossislistedwith“-”) |
| Assetdisposalincome(Lossislistedwith“-”) | -168,828.03 | 162,043.59 |
| III.Operatingprofit(Lossislistedwith“-”) | -96,845,659.66 | -223,903,279.88 |
| Add:non-operatingincome | 37,698.84 | 20,148.00 |
| Less:non-operatingexpenses | 349,054.25 | 93,502.28 |
| IV.Totalprofit(Thetotallossislistedwith“-”) | -97,157,015.07 | -223,976,634.16 |
| Less:incometaxexpenses | 7,582.67 | 9,055,694.44 |
| V.Netprofit(Netlossislistedwith“-”) | -97,164,597.74 | -233,032,328.60 |
| i.Classifiedbybusinesscontinuity | ||
| 1.Netprofitfromcontinuingoperations(Netlossislistedwith“-”) | -97,164,597.74 | -233,032,328.60 |
| 2.Netprofitfromdiscontinuedoperations(Netlossislistedwith“-”) | ||
| ii.Classificationbyownership | ||
| 1.Netprofitattributabletotheowneroftheparentcompany | -97,162,509.03 | -233,026,645.16 |
| 2.Minorityshareholders'gainsandlosses | -2,088.71 | -5,683.44 |
| VI.Netothercomprehensiveincome | ||
| Netothercomprehensiveincomeattributabletotheparentcompanyowner | ||
| i.Othercomprehensiveincomethatcannotbereclassifiedintoprofitorloss | ||
| 1.Changesfromtheremeasurementofthedefinedbenefitplan | ||
| 2.Othercomprehensiveincomethatcannotbetransferredtoprofitorlossundertheequitymethod | ||
| 3.Changesinfairvalueofotherequityinstruments | ||
| 4.Changesinfairvalueofthecompany'sowncreditrisk | ||
| 5.Other | ||
| ii.Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss | ||
| 1.Othercomprehensiveincomeofconvertibleprofitandlossundertheequitymethod | ||
| 2.Changesinfairvalueofotherdebtinvestments | ||
| 3.Financialassetsreclassifiedintoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionsofotherdebtinvestment | ||
| 5.Cashflowhedgereserve | ||
| 6.Foreigncurrencyfinancialstatementtranslationdifference | ||
| 7.Other | ||
| Netothercomprehensiveincomeattributabletominorityshareholders | ||
| VII.Totalcomprehensiveincome | -97,164,597.74 | -233,032,328.60 |
| Totalcomprehensiveincomeattributabletoownersoftheparent | -97,162,509.03 | -233,026,645.16 |
| Totalcomprehensiveincomeattributabletominorityshareholders | -2,088.71 | -5,683.44 |
| VIII.Earningspershare: | ||
| i.Basicearningspershare | -0.02 | -0.04 |
| ii.Dilutedearningspershare | -0.02 | -0.04 |
Ifabusinesscombinationunderthesamecontroloccursinthecurrentperiod,thenetprofitrealizedbythecombinedpartybeforethecombinationis:RMB0.00.Thenetprofitrealizedbythecombinedpartyinthepreviousperiodwas:RMB0.00.Legalrepresentative:WangZhendongPersoninchargeofaccounting:ShiLeiHeadofaccountingdepartment:LuoXue
4.Parentcompanyincomestatement
Unit:RMB
| Item | FirsthalfYearof2021 | FirsthalfYearof2020 |
| I.Operatingincome | 7,278,174.71 | 7,276,570.86 |
| Less:operatingcost | 5,632,943.03 | 5,667,932.11 |
| Taxesandsurcharges | 2,217,898.16 | 2,120,841.35 |
| Salesexpenses | ||
| Managementexpenses | 10,918,194.18 | 2,930,657.06 |
| R&Dexpenses | ||
| Financialexpenses | 22,843,885.71 | 10,672,898.30 |
| Including:interestexpenses | 22,918,691.67 | 10,703,779.17 |
| Interestincome | 87,954.96 | 43,607.28 |
| Add:otherincome | 138,234.55 | 474,801.04 |
| Investmentincome(Lossislistedwith“-”) | 1,330,502.21 | |
| Including:investmentincomefromassociatesandjointventures | ||
| Derecognitionincomeoffinancialassetsmeasuredatamortizedcost | ||
| Netexposurehedgeincome(Lossislistedwith“-”) | ||
| Fairvaluechangeincome(Lossislistedwith“-”) | 23,173.91 | |
| Expectedcreditloss(Lossislistedwith“-”) | -764,039.94 | -382,019.97 |
| Assetimpairmentloss(Lossislistedwith“-”) | ||
| Assetdisposalincome(Lossislistedwith“-”) | -223,987.77 | |
| II.Operatingprofit(Lossislistedwith“-”) | -33,830,863.41 | -14,022,976.89 |
| Add:non-operatingincome | ||
| Less:non-operatingexpenses | ||
| III.Totalprofit(Thetotallossislistedwith“-”) | -33,830,863.41 | -14,022,976.89 |
| Less:incometaxexpenses | -185,216.51 | -95,504.99 |
| IV.Netprofit(Netlossislistedwith“-”) | -33,645,646.90 | -13,927,471.90 |
| i.Netprofitfromcontinuingoperations(Netlossislistedwith“-”) | -33,645,646.90 | -13,927,471.90 |
| ii.Netprofitfromdiscontinuedoperations(Netlossislistedwith“-”) | ||
| V.Netothercomprehensiveincome | ||
| i.Othercomprehensiveincomethatcannotbereclassifiedintoprofitorloss | ||
| 1.Changesfromtheremeasurementofthedefinedbenefitplan | ||
| 2.Othercomprehensiveincomethatcannotbetransferredtoprofitorlossundertheequitymethod | ||
| 3.Changesinfairvalueofotherequityinstruments | ||
| 4.Changesinfairvalueofthecompany'sowncreditrisk | ||
| 5.Other | ||
| ii.Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss | ||
| 1.Othercomprehensiveincomeofconvertibleprofitandlossundertheequitymethod | ||
| 2.Changesinfairvalueofotherdebtinvestments | ||
| 3.Financialassetsreclassifiedintoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionsofotherdebtinvestment | ||
| 5.Cashflowhedgereserve | ||
| 6.Foreigncurrencyfinancialstatementtranslationdifference | ||
| 7.Other | ||
| VI.Totalcomprehensiveincome | -33,645,646.90 | -13,927,471.90 |
| VII.Earningspershare: | ||
| ⅰBasicearningspershare | ||
| ⅱDilutedearningspershare |
5.Consolidatedcashflowstatement
Unit:RMB
| Item | FirsthalfYearof2021 | FirsthalfYearof2020 |
| I.Cashflowfromoperatingactivities: | ||
| Cashreceivedfromthesaleofgoodsandservices | 4,268,598,303.00 | 7,685,015,351.32 |
| Netincreaseincustomerdepositsandinterbankdeposits | ||
| Netincreaseinborrowingfromcentralbank |
| Netincreaseinfundsborrowedfromotherfinancialinstitutions | ||
| Cashreceivedfromtheoriginalinsurancecontractpremium | ||
| Netcashreceivedfromreinsurancebusiness | ||
| Netincreaseinpolicyholders’depositsandinvestmentfunds | ||
| Cashchargedwithinterest,handlingfeesandcommissions | ||
| Netincreaseinfundsborrowedin | ||
| Netincreaseinrepurchasefunds | ||
| Netcashreceivedfromagentbuyingandsellingofsecurities | ||
| Taxrefund | ||
| Othercashreceivedrelatedtootherbusinessactivities | 55,211,569.96 | 14,139,064.39 |
| Subtotalofcashinflowfromoperatingactivities | 4,323,809,872.96 | 7,699,154,415.71 |
| Cashpaidforthepurchaseofgoodsandservices | 965,750,873.57 | 519,654,701.91 |
| Netincreaseincustomerloansandadvances | ||
| Netincreaseindepositofcentralbankandinterbank | ||
| Cashpaidfortheoriginalinsurancecontract | ||
| Netincreaseinborrowedfunds | ||
| Cashpaidforinterest,handlingfeesandcommissions | ||
| Cashpaidforpolicydividends | ||
| Cashpaidtoandforemployees | 3,545,895,731.44 | 2,295,211,119.61 |
| Varioustaxespaid | 192,705,882.06 | 199,637,364.28 |
| Othercashpaidforbusinessactivities | 558,548,843.84 | 620,975,725.72 |
| Subtotalofcashoutflowsfrombusinessactivities | 5,262,901,330.91 | 3,635,478,911.52 |
| Netcashflowfromoperatingactivities | -939,091,457.95 | 4,063,675,504.19 |
| II.Cashflowsfrominvestingactivities: | ||
| Cashreceivedfrominvestmentrecovery | 7,306,410,000.00 | 17,567,171,173.89 |
| Cashreceivedfrominvestmentincome | 220,793,791.47 | 91,865,286.31 |
| Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets | -168,828.03 | 162,043.59 |
| Netcashreceivedfromdisposalofsubsidiariesandotherbusinessunits | ||
| Othercashreceivedrelatedtoinvestingactivities | ||
| Subtotalofcashinflowsfrominvestmentactivities | 7,527,034,963.44 | 17,659,198,503.79 |
| Cashpaidforthepurchaseandconstructionoffixedassets,intangibleassetsandotherlong-termassets | 2,800,021,379.76 | 844,329,065.33 |
| Cashpaidforinvestment | 5,584,550,000.00 | 17,970,288,090.00 |
| Netincreaseinpledgeloans | ||
| Netcashpaidforracquiringsubsidiariesandotherbusinessunits | ||
| Othercashpaidrelatedtoinvestingactivities | ||
| Subtotalofcashoutflowsfrominvestmentactivities | 8,384,571,379.76 | 18,814,617,155.33 |
| Netcashflowsfrominvestingactivities | -857,536,416.32 | -1,155,418,651.54 |
| III.Cashflowfromfinancingactivities: | ||
| Cashreceivedfrominvestmentabsorption | ||
| Including:cashreceivedfromsubsidiariesinabsorbingminorityshareholders'investment | ||
| Cashreceivedfromtheloan | 2,769,000,000.00 | 2,320,000,000.00 |
| Othercashreceivedrelatedtofundraisingactivities | ||
| Subtotalofcashinflowsfromfinancingactivities | 2,769,000,000.00 | 2,320,000,000.00 |
| Cashpaidfordebtrepayment | 2,867,000,000.00 | 1,730,000,000.00 |
| Cashpaidfordividends,profitsorinterestpayments | 103,069,077.75 | 1,556,459,462.95 |
| Including:dividendsandprofitspaidbysubsidiariestominorityshareholders | ||
| Othercashpaidrelatedtofinancingactivities | 392,129,451.92 | 333,478.85 |
| Subtotalofcashoutflowsfromfinancingactivities | 3,362,198,529.67 | 3,286,792,941.80 |
| Netcashflowfromfinancingactivities | -593,198,529.67 | -966,792,941.80 |
| IV.Effectofthechangesoftheexchangerateoncashandtheequivalents | ||
| V.Netincreaseincashandcashequivalents | -2,389,826,403.94 | 1,941,463,910.85 |
| Add:balanceofcashandcashequivalentsatthebeginningoftheperiod | 5,950,036,489.12 | 2,724,335,001.58 |
| VI.Balanceofcashandcashequivalentsattheendoftheperiod | 3,560,210,085.18 | 4,665,798,912.43 |
6.Parentcompanycashflowstatement
Unit:RMB
| Item | FirsthalfYearof2021 | FirsthalfYearof2020 |
| I.Cashflowfromoperatingactivities: | ||
| Cashreceivedfromthesaleofgoodsandservices | ||
| Taxrefund | ||
| Othercashreceivedrelatedtootherbusinessactivities | 3,566,724.42 | 1,748,092.19 |
| Subtotalofcashinflowfromoperatingactivities | 3,566,724.42 | 1,748,092.19 |
| Cashpaidforthepurchaseofgoodsandservices | ||
| Cashpaidtoandforemployees |
| Varioustaxespaid | 2,398,724.13 | 2,606,189.88 |
| Othercashpaidforbusinessactivities | 354,011,436.05 | 707,635,847.22 |
| Subtotalofcashoutflowsfrombusinessactivities | 356,410,160.18 | 710,242,037.10 |
| Netcashflowfromoperatingactivities | -352,843,435.76 | -708,493,944.91 |
| II.Cashflowsfrominvestingactivities: | ||
| Cashreceivedfrominvestmentrecovery | 1,600,000.00 | |
| Cashreceivedfrominvestmentincome | 1,330,502.21 | 1,700,000,000.00 |
| Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets | -223,987.77 | |
| Netcashreceivedfromdisposalofsubsidiariesandotherbusinessunits | ||
| Othercashreceivedrelatedtoinvestingactivities | ||
| Subtotalofcashinflowsfrominvestmentactivities | 2,706,514.44 | 1,700,000,000.00 |
| Cashpaidforthepurchaseandconstructionoffixedassets,intangibleassetsandotherlong-termassets | 300,000,000.00 | |
| Cashpaidforinvestment | 1,600,000.00 | 1,500,000.00 |
| Netcashpaidforacquiringsubsidiariesandotherbusinessunits | ||
| Othercashpaidrelatedtoinvestingactivities | ||
| Subtotalofcashoutflowsfrominvestmentactivities | 1,600,000.00 | 301,500,000.00 |
| Netcashflowsfrominvestingactivities | 1,106,514.44 | 1,398,500,000.00 |
| III.Cashflowfromfinancingactivities: | ||
| Cashreceivedfrominvestmentabsorption | ||
| Cashreceivedfromtheloan | 1,000,000,000.00 | 800,000,000.00 |
| Othercashreceivedrelatedtofundraisingactivities | ||
| Subtotalofcashinflowsfromfinancingactivities | 1,000,000,000.00 | 800,000,000.00 |
| Cashpaidfordebtrepayment | 570,000,000.00 | |
| Cashpaidfordividends,profitsorinterestpayments | 22,726,044.41 | 1,489,922,632.52 |
| Othercashpaidrelatedtofinancingactivities | 333,478.85 | |
| Subtotalofcashoutflowsfromfinancingactivities | 592,726,044.41 | 1,490,256,111.37 |
| Netcashflowfromfinancingactivities | 407,273,955.59 | -690,256,111.37 |
| IV.Effectofthechangesoftheexchangerateoncashandtheequivalents | ||
| V.Netincreaseincashandcashequivalents | 55,537,034.27 | -250,056.28 |
| Add:balanceofcashandcashequivalentsatthebeginningoftheperiod | 55,780,356.37 | 6,931,803.33 |
| VI.Balanceofcashandcashequivalentsattheendoftheperiod | 111,317,390.64 | 6,681,747.05 |
7.ConsolidatedStatementofChangesinOwners’EquityCurrentAmount
Unit:RMB
Amountofthepreviousperiod
Unit:RMB
8、StatementofChangesinEquityoftheCompany’sOwners
CurrentAmount
UnitRMB
Amountofthepreviousperiod
Unit:RMB
SectionIII.GeneralInformation
1.OverviewoftheCompanyOffcnEducationTechnologyCo.,Ltd.(hereinafterreferredtoasthe“Company”or“theCompany”)wasformerlyknownasYaxiaAutomobileCo.,Ltd.(hereinafterreferredtoas“YaxiaAuto”).YaxiaAuto,alimitedcompanyestablishedbyWuhuYaxiaIndustrialCo.,LtdobtainedtheEnterpriseBusinessLicenseofEnterpriseLegalPersonNo.3402012104768issuedbyWuhuAdministrationforIndustryandCommerceonNovember30,2006.YaxiaAutowasapprovedbytheChinaSecuritiesRegulatoryCommission(hereinafterreferredtoasthe“CSRC”)forTheapprovaloftheinitialpublicofferingofWuhuYaxiaAutomobileCo.,Ltd.(CSRCLicense[2011]No.1046)andissuedRMB22millionordinarysharestothepublicandtradedontheShenzhenStockExchangeinAugust2011.ThecontrollingshareholderisAnhuiYaxiaIndustrialCo.,Ltd.(hereinafterreferredtoas“YaxiaIndustrial”).OnJuly1,2016,theCompanyobtainedtheNo.91340200711040703A“EnterpriseBusinessLicenseofEnterpriseLegalPerson”issuedbyWuhuAdministrationforIndustryandCommerce.Inaccordancewiththeresolutionofthe3rdExtraordinaryGeneralMeetingofYaxiaAutoin2018andtheresolutionofthe24thBoardMeetingofthe4thBoardofDirectors,andapprovedbyChinaSecuritiesRegulatoryCommission’sTheapprovalofmajorassetrestructuringofYaxiaAutomobileCo.,Ltd.andtheissuanceofsharestoLuZhongfangandothersforassetpurchase(SecuritiesRegulatoryCommission[2018]No.1975),YaxiaAutoswappedallassetsandliabilities(“exchange-outassets”)asoftheassessmentdate,excludingtheretainedassetsthatdonotconstitutebusiness,withtheequivalentportion(“exchange-inassets”)of100.00%oftheequityinBeijingOffcnEducationTechnologyCo.,Ltd.(hereinafterreferredtoas“OffcnLtd.”)respectivelyheldby11transactioncounter-partiesincludingLiYongxin,andpaidthedifferencebetweentheexchange-outassetsandtheexchange-inassetsbyissuingshares.OnDecember27,2018,YaxiaAutoandthecounterpartYaxiaIndustrialsignedtheConfirmationofDeliveryofExchange-outAssets.Thedeliverydateoftheexchange-outassetswasDecember27,2018.Andfromthedateofdelivery,YaxiaAutoandthecounterpartwouldcompletethedeliveryobligations,regardlessofwhetherthedelivery,ownershipchangeregistrationorfilingproceduresofexchange-outassets(includingbutnotlimitedtolanduserights,housingownership,intellectualpropertyrightsandqualifications,licenses,otherintangibleassets,etc.)isactuallycompleted;theownershipoftheexchange-outassetsbelongstoYaxiaIndustrial,andalltherights,obligations,responsibilitiesandrisksrelatedtothedisposedassets(includingcontingentliabilitiesandimplicitliabilities)areownedandundertakenbyYaxiaIndustrial,whichhasthecompletelyexclusiveactualcontrolanddisposalrightsovertheexchange-outassets,whileYaxiaAutonolongerhasanyactualrights.Onthesameday,OffcnLtd.completedtheregistrationproceduresforindustrialandcommercialchangesonthemattersofshareholderchange.Afterthecompletionofthisalteration,YaxiaAutoholdsa100.00%stakeinOffcnLtd.,andaccordingly,LiYongxinandLuZhongfangbecomethecontrollingshareholderandactualcontrolleroftheCompany.OnFebruary2,2019,YaxiaAutochangeditsnameanditsbusinessscope.
OnJanuary23,2019,theregistrationproceduresforthetransferofsharesoftheCompanyandthenewsharesoftheCompanyrelatedtotherestructuringtransactionwerecompleted.AsofJune30,2021,theCompany'ssharecapitalwasRMB6,167,399,389.00.Unifiedsocialcreditcode:91340200711040703ACompanyresidence:YaxiaAutomobileCity,YijiangNorthRoad,JiujiangDistrict,WuhuCity,AnhuiProvinceHeadquartersAddress:HanhuaCenturyBuildingB,XueqingRoad23,HaidianDistrict,BeijingNatureofbusiness:EducationNatureofcustomer:MainlynaturalpersonsBusinessScope:engagedintechnologydevelopment,technicalservices,technologypromotion,technologytransfer,technicalconsultingandthebusinessofeducationandtraining(reservedtobranches)inthefieldofeducationandtechnology;holdingexhibitions;organizingculturalandartisticexchangeactivities(excludingperformances);offeringconferenceservicesandconsultingservicesofenterprisemanagement.(Projectssubjecttoapprovalaccordingtothelawcanbecarriedoutundertheapprovaloftherelevantdepartments)TheFinancialStatementswereapprovedbytheBoardofDirectorsoftheCompanyonAugust30,2021.
2.ThescopeoftheconsolidatedfinancialstatementsTheconsolidatedscopeoftheconsolidatedfinancialstatementsoftheCompanyisdeterminedonacontrolbasis,includingthefinancialstatementsoftheCompanyandallsubsidiaries.AsubsidiaryisanenterpriseorentitycontrolledbytheCompany.ThescopeoftheconsolidatedfinancialstatementsisdetailedinNoteIX(1)“Interestinsubsidiaries”ofthisreport;changesinthescopeofconsolidatedfinancialstatementsaredetailedinNoteVIII.“ChangesintheConsolidatedScope”ofthisreport.SectionIV.BasisforPreparationofFinancialStatements
1.BasisofpreparationThefinancialstatementsarepreparedonagoingconcernbasis,accordingtotheactualtransactionsandtherelevantprovisionsoftheAccountingStandardsforBusinessEnterprises(collectivelyreferredtoasthe“CASs”),andbasedontheimportantaccountingpoliciesandaccountingestimatesdescribedbelow.
2.GoingconcernTheCompanyevaluatedtheabilitytocontinueoperationsfor12monthsfromtheendofthereportingperiodanddidnotfindanymattersandsituationsthatmaycastsignificantdoubtsontheabilitytocontinueoperations.Therefore,itisreasonablefortheCompanytopreparefinancialstatementsonagoingconcernbasis.SectionV.TheCompany’sSignificantAccountingPoliciesandAccountingEstimatesNotesonspecificaccountingpoliciesandaccountingestimates:
None
1.StatementofcompliancewiththeAccountingStandardsforBusinessEnterprisesThefinancialstatementsbasedontheabove-mentionedpreparationbasismeettherequirementsofthelatestCASsanditsapplicationguidelines,interpretations,andotherrelevantregulationsissuedbytheMinistryofFinance,whichtrulyandcompletelypresenttheCompany’sfinancialposition,businessperformance,cashflowsandotherinformationfortheyearthenended.Inaddition,thefinancialreportiscompiledbyreferencetothelistinganddisclosurerequirementsoftheRulesfortheInformationDisclosureandCompilationofCompaniesPubliclyIssuingSecuritiesNO.15—GeneralProvisionsforFinancialReport(Revisedin2014)oftheCSRCaswellastheNoticeonImplementationoftheNewAccountingStandardsforListedCompanies(LetteroftheAccountingDepartment[2018]no.453).
2.AccountingperiodTheCompany’saccountingperiodstartsonJanuary1andendsonDecember31.
3.BusinesscycleTheCompany’sbusinesscyclestartsonJanuary1andendsonDecember31.
4.RecordingcurrencyTheCompanyadoptsRenminbi(RMB)astheirrecordingcurrency.
5.Theaccountingtreatmentofbusinesscombinationsinvolvingenterprisesundercommoncontrolandbusinesscombinationsnotinvolvingenterprisesundercommoncontrol
5.1TheaccountingtreatmentofbusinesscombinationsinvolvingenterprisesundercommoncontrolTheCompanyachievesamergerunderthesamecontrolinonetransactionorthroughstep-by-stepmultipletransactions.Assetsandliabilitiesobtainingfromthemergerofenterprisearemeasuredaccordingtotheshareofbookvalueofconsolidatedfinancialstatementsoffinalcontrollingpartyundertheowner’sequityofcombinedpartywithincombiningdate.ThedifferencebetweenthebookvalueofthenetassetsobtainedbytheCompanyandbookvalueofcombinedconsiderationpaid(ortheaggregatefacevalueofsharesissuedasconsideration)isadjustedtothecapitalreserve;ifthecapitalreserveisinsufficienttooffset,theretainedearningsshallbeadjusted.
5.2TheaccountingtreatmentofbusinesscombinationsinvolvingenterprisesunderuncommoncontrolWherethecostofcombinationexceedstheacquiree’sinterestinthefairvalueoftheacquiree’sidentifiablenetassets,thedifferenceistreatedasanassetandrecognizedasgoodwill,whichismeasuredatcostoninitialrecognition.Ifthecombinationcostislessthantheshareofidentifiablefairvalueofnetassetsofacquiree,firstly,conductingthereviewofmeasurementisnecessarytoachievetheacquireetheidentifiableassets,liabilitiesandthefairvalueofcontingentliabilitiesaswellasthecombinationcosts.Iftheacquireecombinationcostsafterreviewsarestilllessthanthefairvalueofidentifiablenetasset,thedifferencewillbeaddedintothecurrentprofitsandlosses.Toachievebusinesscombinationsnotundercommoncontrolbystep-by-stepmultipletransactionsshouldbe
handledinthefollowingorder:
(1)Adjusttheinitialinvestmentcostoflong-termequityinvestments.Iftheequityheldbeforethepurchasedateisaccountedforusingtheequitymethod,itisremeasuredatthefairvalueoftheequityonthepurchasedate,andthedifferencebetweenthefairvalueanditsbookvalueisincludedinthecurrentinvestmentincome;Changesinothercomprehensiveincomeandotherowners’equityundertheequitymethodshallbeconvertedtothecurrentincomeattheacquisitiondate,exceptforothercomprehensiveincomearisingfromthenetliabilitiesornetassets’changesofthebenefitplanremeasuredbytheinvestee.
(2)Recognizegoodwill(ortheamountincludedinthecurrentprofitorloss).Comparetheinitialinvestmentcostoftheadjustedlong-termequityinvestmentwiththefairvalueoftheidentifiablenetassetsofthesubsidiarythatshouldbeenjoyedonthepurchasedate.Iftheformerisgreaterthanthelatter,thedifferenceisrecognizedasgoodwill;theformerislessthanthelatter,andthedifferenceisbookedintothecurrentprofitandloss.Circumstancesofdisposingofequitythroughstep-by-stepmultipletransactionstothelossofcontroloversubsidiaries
(1)Determinewhetherthevarioustransactionsintheprocessofstep-by-stepdisposalofequitytothelossofcontroloversubsidiariesfollowthe“packagedeal”principleGenerallytransactionsinstagesaretreatedasapackagedealinaccountingifthetransactionterms,conditions,andeconomicimpactofthedisposalofthesubsidiary’sequityinterestscomplywithoneormoreofthefollowing:
1)Thesetransactionsaremadesimultaneouslyorwithconsiderationofinfluenceoneachother;
2)Thesetransactionscanonlyachieveacompletebusinessoutcomewhentreatedasawhole;
3)Theoccurrenceofatransactiondependsontheoccurrenceofatleastoneoftheothertransactions;
4)Atransactionisuneconomicalwhentreatedalone,butiseconomicalwhenconsideredtogetherwithothertransactions.
(2)Theaccountingmethodofeachtransactionbelongingtothe“packagedeal”intheprocessofdisposingoftheequityinstagestothelossofcontroloverthesubsidiaryAllthetransactions,belongingtothepackagedealintheprocessofdisposingofequityinvestmentsinsubsidiariestothelossofcontrol,shouldbeaccountedforasonetransactiondisposingofthesubsidiarytothelossofcontroloverit;however,thedifferencebetweeneachdisposalpriceandtheshareofthesubsidiary’snetassetsobtainedbythedisposalofinvestmentbeforethelossofcontrolshallberecognizedasothercomprehensiveincomeintheconsolidatedfinancialstatementsandshallbetransferredtotheprofitandlossoftheperiodwhenthecontrolislost.Intheconsolidatedfinancialstatements,theremainingequityshouldberemeasuredatitsfairvalueonthedatewhenthecontrolislost.Thedifferencebetweenthesumoftheconsiderationobtainedfromthedisposaloftheequityandthefairvalueoftheremainingequity,andthesharesofthenetassetsoftheoriginalsubsidiary
calculatedfromthepurchasedatebasedontheoriginalshareholdingratio,shallbeincludedintheinvestmentincomeoftheperiodwhenthecontrolislost.Othercomprehensiveincomerelatedtotheoriginalsubsidiary’sequityinvestmentshallbeconvertedtocurrentinvestmentincomewhencontrolislost.
(3)Theaccountingmethodofeachtransactionnotbelongingtothe“packagedeal”intheprocessofdisposingoftheequityinstagestothelossofcontroloverthesubsidiaryIfthedisposaloftheinvestmentinthesubsidiarydoesnotlosecontrol,thedifferencebetweenthedisposalpriceintheconsolidatedfinancialstatementsandtheshareofthesubsidiary’snetassetsobtainedfromthedisposalofinvestmentisincludedinthecapitalreserve(capitalpremiumorequitypremium).Ifthecapitalpremiumisinsufficienttooffset,theretainedearningsshouldbeadjusted.Whenthecontroloverdisposingoftheinvestmentinasubsidiaryislost,intheconsolidatedfinancialstatements,theremainingequityshouldberemeasuredatitsfairvalueonthedatewhencontrolislost.Thesumoftheconsiderationobtainedfromthedisposalofequityandthefairvalueoftheremainingequityminustheshareofthenetassetsthatshouldbecalculatedbytheoriginalsubsidiaryfromthedateofpurchasebasedontheoriginalshareholdingratioisincludedintheinvestmentincomeoftheperiodwhenthecontrolislost.Othercomprehensiveincomerelatedtotheequityinvestmentoftheoriginalsubsidiaryshallbeconvertedtocurrentinvestmentincomewhencontrolislost.
6.PreparationofconsolidatedfinancialstatementsConsolidatedfinancialstatementsbasedontheParent’sanditssubsidiaries’financialstatementsarepreparedbytheCompanyinaccordancewiththeCASsNo.33—Consolidatedfinancialstatementandotherrelevantmaterials.
7.Classificationofjointarrangementandaccountingmethodsofjointoperations
7.1IdentificationandclassificationofjointarrangementsAjointarrangementreferstoanarrangementjointlycontrolledbytwoormoreparties.Thejointarrangementhasthefollowingcharacteristics:(1)allparticipantsareboundbythearrangement;(2)twoormoreparticipantsexercisejointcontroloverthearrangement.Nosinglepartyshallbeabletocontrolthearrangement,andanypartythathasjointcontroloverthearrangementshallbeabletopreventanyotherpartyorcombinationofpartiesfromcontrollingthearrangementalone.Jointcontrolreferstothesharedcontroloveracertainarrangementasrequiredinthecontract.Andthedecisionabouttheactivitiesofthearrangementcanbemadeonlywhenallparticipantswiththesharedcontrolhaveconsented.Ajointarrangementisclassifiedaseitherajointoperationorajointventure.Ajointoperationisajointarrangementwherebythejointoperatorshaverightstotheassets,andobligationsfortheliabilities,relatedtothearrangement.Ajointventureisajointarrangementwherebythejointpartiesonlyhavetherightstothenetassetsunderthisarrangement.
7.2AccountingtreatmentofjointarrangementsAjointoperatorshallrecognizethefollowingitemsinrelationtoitsinterestsinajointoperation,andaccountfortheminaccordancewithrelevantaccountingstandards:(1)Itssolely-heldassets,anditsshareofanyassetsheldjointly;(2)Itssolely-assumedliabilities,anditsshareofanyliabilitiesincurredjointly;(3)Itsrevenuefromthesaleofitsshareoftheoutputarisingfromthejointoperation;(4)Itsshareoftherevenuefromsaleoftheoutputbythejointoperation;(5)Itssolely-incurredexpensesanditsshareofanyexpensesincurredjointly.Theparticipantsinajointventureshall,inaccordancewiththeAccountingStandardsforEnterprisesNo.2—Long-termEquityInvestment,makeaccountingarrangementsfortheinvestmentofthejointventure.
8.CriteriafortherecognitionofcashandcashequivalentsTheterm“cash”incashflowstatementreferstocashonhandanddepositsthatareavailableforpaymentatanytime.Thetermof“cashequivalents”referstoshort-term(usuallyduewithin3monthsfromthepurchasedate)andhighlyliquidinvestmentsthatarereadilyconvertibletoknownamountsofcashandsubjecttoaninsignificantriskofchangesinvalue.
9.Translationofforeigncurrencytransactionsandforeigncurrencystatement
9.1TranslationoftransactionsdenominatedinforeigncurrenciesOninitialrecognition,aforeigncurrencyamountistranslatedintotheamountdenominatedinRMBbyapplyingthespotexchangerateonthedateofthetransactionannouncedbyPeople’sBankofChina.Atthebalancesheetdate,foreigncurrencybalancecomprisedofforeigncurrencymonetaryitemsshallbetranslatedatthespotexchangerateonthebalancesheetdate,andtheexchangedifferencescausedbydifferentexchangerates,excepttheexchangedifferenceoftheprincipalandinterestofforeigncurrencyspecialloansrelatedtotheacquisitionandconstructionofassetsthatmeetthecapitalizationconditions,shallbeincludedintoprofitandlossfortheperiod;foreigncurrencynon-monetaryitemsmeasuredathistoricalcostarestillconvertedatthespotexchangerateonthetransactiondate,andtheirRMBamountisnotchanged;foreigncurrencynon-monetaryitemsmeasuredatfairvalue,aretranslatedatthespotexchangerateonthefairvaluedeterminationdate,andthedifferenceshallbeincludedintoprofitandlossfortheperiodorothercomprehensiveincome.
9.2TranslationoffinancialstatementsdenominatedinforeigncurrenciesTheassetsandliabilitiesofthebalancesheetaretranslatedatthespotexchangerateofthebalancesheetdate;allitemsabouttheowner’sequityexceptthe“undistributedprofits”aretranslatedatthespotexchangerateonthetransactiondate;therevenueandexpensesintheincomestatementaretranslatedattheapproximaterateofthespotexchangerateonthetransactiondate.Differencesarisingfromtheabovetranslationoffinancialstatementsdenominatedinforeigncurrenciesarerecognizedasothercomprehensiveincome.
10.Financialinstruments
10.1Recognitionandderecognitionoffinancialinstruments
TheCompanyrecognizesafinancialassetorafinancialliabilitywhenitbecomesthecontractualpartyofthefinancialinstrument.Allregularwaysofpurchasingorsellingoffinancialassetsarerecognizedandderecognizedonatradedatebasis.Regularwaysofpurchasingorsellingmeanthatthereceivingordeliveryoffinancialassetsshouldbewithinthetimelimitstipulatedbyregulationsorcommonpractices,asagreedinthetermsofthecontract.TradedateisthedateonwhichtheCompanypromisestobuyinorselloutthefinancialassets.TheCompanywillderecognizethefinancialassets(eitherapart,orapartofasimilargroup),andwriteitofftheaccountandthebalancesheet,iffollowingconditionsaremet:
(1)Expirationoftherighttoreceivecashflowsfromfinancialassets;
(2)TheCompany’srighttoreceivecashflowsfromfinancialassetshasbeentransferred,orbeartheobligationtopayallcashreceivedtothethirdpartyintimedueto“Hand-Overarrangement”;and(a)almostallrisksandbenefitsoftheownershipofthefinancialassetshavebeentransferredvirtually,or(b)thoughnoneofrisksandbenefitsoftheownershipthefinancialassetshavebeentransferredorretainedvirtually,theCompanywaivesthecontrolofthefinancialassets.
10.2ClassificationandmeasurementoffinancialassetsAccordingtothebusinessmodelformanagingfinancialassetsandthecontractualcashflowcharacteristicsoffinancialassets,theCompany’sfinancialassetshaveinitiallybeenclassifiedasfollows:financialassetsmeasuredatamortizedcost,financialassetsmeasuredatfairvalueandthechangesareincludedinothercomprehensiveincome,andfinancialassetsmeasuredatfairvalueandthechangesareincludedinprofitorlossoftheperiod.Subsequentmeasurementoffinancialassetsdependsonitscategories.TheCompany’sclassificationoffinancialassetsisbasedontheCompany’sbusinessmodelofmanagingfinancialassetsanditscharacteristicsofcashflows.
(1)FinancialassetsatamortizedcostFinancialassetsareclassifiedasfinancialassetsatamortizedcostwhenfollowingconditionsaremet:theCompany’sbusinessmodelformanagingfinancialassetstargetstoreceivecontractualcashflows;Thecontractualtermsofthefinancialassetsstipulatethatthecashflowsgeneratedonaspecificdateareexclusivelyusedtopaytheprincipalandtheinterestbasedontheoutstandingprincipalamount.Forsuchfinancialassets,effectiveinterestratemethodisappliedtosubsequentlymeasurethematamortizedcost,andgainsorlossesarisingfromamortizationorimpairmentarerecognizedincurrentprofitorloss.
(2)LiabilityinvestmentatfairvaluethroughothercomprehensiveincomeFinancialassetsareclassifiedasliabilityatfairvaluethroughothercomprehensiveincomewhenfollowingconditionsaremet:theCompany’sbusinessmodelformanagingfinancialassetstargetsatboththereceivingofcontractualcashflowsandthesaleoffinancialassets;thecontractualtermsofthefinancialassetstipulatethatthe
cashflowsgeneratedonaspecificdateareexclusivelyusedtopaytheprincipalandtheinterestbasedontheoutstandingprincipalamount.Suchfinancialassetsaresubsequentlymeasuredatfairvalue.Thediscountorpremiumisamortizedbyusingtheeffectiveinterestmethodandrecognizedasinterestincomeorexpense.Exceptthattheimpairmentlossandtheexchangedifferencesofforeigncurrencymonetaryfinancialassetsarerecognizedasprofitorlossfortheperiod,thechangesinthefairvalueofsuchfinancialassetsarerecognizedasothercomprehensiveincome,andtheaccumulatedgainsorlossesaretransferredintoprofitorlossuntilsuchfinancialassetsarederecognized.Interestincomerelatedtosuchfinancialassetsisincludedinthecurrentprofitandloss.
(3)EquityinvestmentatfairvaluethroughothercomprehensiveincomeTheCompanyirrevocablydesignatedthenon-tradingequityinvestmentasfinancialassetsatfairvaluethroughothercomprehensiveincome,andtherelateddividendincomeisincludedinprofitorloss.Thechangesoffairvalueareincludedinothercomprehensiveincomeandtheaccumulatedgainsorlossesaretransferredtoretainedearningsuntilthefinancialassetsarederecognized.
(4)FinancialassetsatfairvaluethroughprofitorlossAnyfinancialassetsthatarenotrecognizedasthefinancialassetsatamortizedcostoratfairvaluethroughothercomprehensiveincomementionedabovearemeasuredatfairvaluethroughprofitorloss.Atthetimeofinitialrecognition,inordertoeliminateorsignificantlyreduceaccountingmismatches,financialassetscanbedesignatedasfinancialassetsatfairvaluethroughprofitorloss.Suchfinancialassetsaresubsequentlymeasuredatfairvalue,andallchangesinfairvaluearerecognizedinprofitorloss.Whenandonlywhen,theCompanychangesitsbusinessmodelformanagingfinancialassetsitmustreclassifyallaffectedfinancialassets.Forfinancialassetsatfairvaluethroughprofitorloss,therelated-partytransactionexpenseisdirectlyrecognizedincurrentprofitorlossasincurred.Andotherfinancialassets’transactionexpenseisincludedintheinitialrecognitionamount.
10.3ClassificationandmeasurementoffinancialliabilitiesTheCompany’sfinancialliabilitieshaveinitiallybeenclassifiedasfollows:financialliabilitiesatamortizedcostandfinancialliabilitiesatfairvaluethroughprofitorloss.Thefinancialliabilitiesmeetinganyofthefollowingconditionscanbeinitiallydesignatedasthefinancialliabilitiesatfairvaluethroughprofitandloss:(1)Suchdesignationcaneliminateorsignificantlyreduceaccountingmismatches.(2)Accordingtocorporateriskmanagementorinvestmentstrategiesasstatedinformalwrittendocuments,themanagementandperformanceevaluationoffinancialliabilityportfoliosorcombinationsoffinancialassetsandfinancialliabilitiesarebasedonfairvalue,andreportedtokeymanagementpersonnelonthisbasiswithintheenterprise.(3)Suchfinancialliabilitiesincludeembeddedderivativesthatneedtobesplitseparately.
TheCompanydeterminestheclassificationoffinancialliabilitiesatinitialrecognition.Forfinancialliabilitiesmeasuredatfairvaluethroughprofitorloss,therelated-partytransactionexpenseisdirectlyrecognizedincurrentprofitorloss.Therelated-partytransactionexpenseofotherfinancialliabilitiesisincludedintheinitialrecognitionamount.Subsequentmeasurementoffinancialliabilitiesdependsonitscategories:
(1)FinancialliabilitiesatamortizedcostSuchfinancialliabilitiesaresubsequentlymeasuredbyusingtheeffectiveinterestratemethodatamortizedcost.
(2)FinancialliabilitiesatfairvaluethroughprofitorlossFinancialliabilitiesmeasuredatfairvalueandbookedintocurrentprofitsandlosses,whichincludestradingfinancialliabilities(includingderivativesoffinancialliabilities)andthoseinitiallydesignatedasfinancialliabilitiesatfairvaluethroughprofitorloss.
10.4OffsettingoffinancialinstrumentsIfthefollowingconditionsaremetatthesametime,thenetamountobtainedaftertheoffsettingoffinancialassetsandfinancialliabilitiesshallbeshowninthebalancesheet:thereisalegalrighttooffsettherecognizedamount,andsuchlegalrightiscurrentlyenforceable;plantosettleonanetbasis,orcashthefinancialassetsandliquidatethefinancialliabilitiesatthesametime.
10.5ImpairmentoffinancialassetsTheCompanyundertakesimpairmenttreatmentandconfirmslossprovisionsbasedonexpectedcreditlossesasforthefinancialassetsatamortizedcost,debtinstrumentinvestmentsatfairvaluethroughothercomprehensiveincome.financialguaranteecontractsandetc..Creditlossreferstothedifferencebetweenthecashflowofallcontractsdiscountedattheoriginaleffectiveinterestrateandtheexpectedcashflowofallcontractsreceivables,i.e.thepresentvalueofallcashshortages.TheCompanyestimates,individuallyorincombination,theexpectedcreditlossesoffinancialassetsmeasuredatamortizedcostandfinancialassets(debtinstruments)measuredatfairvaluethroughothercomprehensiveincome,takingintoaccountallreasonableandevidence-basedinformation,includingforward-lookinginformation.
(1)GeneralmodelofexpectedcreditlossIfthecreditriskofthefinancialinstrumenthasincreasedsignificantlysincetheinitialrecognition,theCompanyshallmeasurethelossprovisionattheamountequivalenttotheexpectedcreditlossofthefinancialinstrumentfortheentirelifeoftheinstrument;Ifthecreditriskofthefinancialinstrumenthasnotincreasedsignificantlysincetheinitialrecognition,theCompanyshallmeasurethelossprovisionattheamountequivalenttotheexpectedcreditlossofthefinancialinstrumentinthenext12months.Theincreaseorrolloveramountofthelossprovisionshallberecordedinthecurrentprofitandlossasanimpairmentlossorgain.FortheCompany’sspecificassessmentofcreditrisk,pleaserefertothisreportNoteX“RisksAssociatedWithFinancialInstruments”fordetails.
Thecreditriskoftheinstrumentisgenerallydeemedtohaveincreasedsignificantlyifthedefaultismorethan30days,unlessthereisconclusiveevidencethatthecreditriskoftheinstrumenthasnotincreasedsignificantlysincetheinitialrecognition.Specifically,theCompanydividestheprocessofcreditimpairmentoffinancialinstrumentswithoutcreditimpairmentatthetimeofpurchaseororiginationintothreestages.Therearedifferentaccountingtreatmentsfortheimpairmentoffinancialinstrumentsatdifferentstages:
Stage1:creditriskhasnotincreasedsignificantlysinceinitialrecognition.Forthefinancialinstrumentatthisstage,theCompanyshallmeasurethelossprovisionaccordingtotheexpectedcreditlossinthenext12months,andcalculatetheinterestincomeaccordingtoitsbookbalance(thatis,theimpairmentprovisionisnotdeducted)andtheactualinterestrate(iftheinstrumentisafinancialasset,thesameasbelow).Stage2:Creditriskhasincreasedsignificantlysincetheinitialrecognition,butcreditimpairmenthasnotyetoccurred.Forafinancialinstrumentatthisstage,theCompanyshallmeasurethelossprovisionaccordingtotheexpectedcreditlossoftheinstrumentthroughoutitslife,andcalculateinterestincomeaccordingtoitsbookbalanceandactualinterestrate.Stage3:Creditimpairmentoccursafterinitialrecognition.Forthefinancialinstrumentinthisstage,theCompanyshallmeasurethelossprovisionaccordingtotheexpectedcreditlossoftheinstrumentthroughoutitslifetime,butthecalculationofinterestincomeisdifferentfromthatofthefinancialassetinthefirsttwostages.Forthefinancialassetswhosecreditimpairmenthasoccurred,theCompanyshallcalculatetheinterestincomeattheiramortizedcost(bookbalancelesstheimpairmentprovision,thatis,bookvalue)andtheactualinterestrate.Forfinancialassetswhosecreditimpairmenthasoccurredatthetimeofpurchaseororigin,theCompanyshallonlyrecognizethechangesintheexpectedcreditlossduringthewholedurationaftertheinitialrecognitionaslossprovision,andcalculateinterestincomeattheiramortizedcostandtheactualinterestrateadjustedbycredit.
(2)TheCompanychoosesnottocomparethecreditriskofafinancialinstrumentwithalowercreditriskonthebalancesheetdatewiththecreditriskatthetimeoftheinitialrecognition,butdirectlyassumesthatthecreditriskoftheinstrumenthasnotincreasedsignificantlysincetheinitialrecognition.IftheCompanyconfirmsthatthedefaultriskofthefinancialinstrumentsislow,theborrowers’short-termabilitytofulfillitsobligationtopaythecontractcashflowisverystrong,andeventheeconomicsituationandbusinessenvironmentisinalong-termadversechange,theborrower’sabilitytofulfillitsobligationtopaythecontractcashflowwillnotbenecessarilyreduced,thenthefinancialinstrumentscanbedeemedwithalowercreditrisk.
(3)Receivablesandleasereceivables
TheCompany,forthereceivablesstipulatedintheAccountingStandardsforEnterprisesNo.14—Revenuesandwithoutmajorfinancingelements(includingthesituationwhenthefinancingelementsnomorethanayearinthecontractarenottakenintoconsiderationaccordingtotheStandards),adoptsthesimplifiedmodelofexpectedcreditlosses,andmeasuresthelossprovisionalwaysinaccordancewiththeexpectedamountofcreditlossesthroughouttheduration.ForreceivablescontainingsignificantfinancingelementsandleasereceivablesspecifiedintheAccountingStandardsforBusinessEnterprisesNo.21—Leasing,theCompanymakesanaccountingpolicychoiceandadoptsasimplifiedmodelofexpectedcreditloss,thatis,tomeasurethelossprovisionaccordingtotheamountequivalenttotheexpectedcreditlossinthewholeduration.
10.6FinancialassetstransferIfalmostalltherisksandrewardsofownershipoffinancialassetshavebeentransferredtothetransferee,thefinancialassetsarederecognized;ifalmostalltherisksandrewardsofownershipofthefinancialassetsareretained,thefinancialassetsarenotderecognized.Neithertransfernorretainalmostallrisksandrewardsofownershipoffinancialassets,whicharedealtwithasfollows:ifthecontroloffinancialassetsarewaived,derecognizethefinancialassetsandrecognizetheassetsandliabilities;ifnot,itneedstorecognizetherelevantfinancialassetsaccordingtotheextenttowhichtheycontinuetobeinvolvedinthetransferredfinancialassets,andrecognizetherelatedliabilities.Ifthetransferredfinancialassetsarecontinuedtobeinvolvedbyfinancialwarranty,theassetsshouldberecognizedattheloweronebetweenthebookvalueofthefinancialassetsandthefinancialwarrantyamount.Thefinancialwarrantyamountreferstothemaximumamountoftheconsiderationreceivedthatwillberequiredtoberepaid.
11.NotesreceivableNone
12.AccountsreceivableForaccountsreceivable,whethersignificantfinancingisinvolvedinornot,thesimplifiedmodelofexpectedcreditlossisadopted.TheCompanywillalwaysmeasureitsprovisionforlossbasedontheamountequivalenttotheexpectedcreditlossofitsentireduration,andtheincreaseorreversalamountoftheprovisionforlossresultingtherefromisincludedintheprofitandlossoftheperiodasanimpairmentlossorgain.TheCompanyconsidersallreasonableandevidence-basedinformation,includingforward-lookinginformation,toestimatetheexpectedcreditlossoftheaccountsreceivablesindividuallyorincombination.Whenasinglefinancialassetcanevaluatetheexpectedcreditlossatareasonablecost,theCompanychoosestocalculatethecreditlossindividually.Whenasinglefinancialassetcannotevaluatetheexpectedcreditlossatareasonablecost,theCompanywilldividetheaccountsreceivablesintoseveralcombinationsinaccordancewiththe
characteristicsofcreditrisk,andtheexpectedcreditlossiscalculatedonthebasisofthecombination.Thebasisfordeterminingthecombinationisasfollows:
| Typesofcombination | Determiningthebasisofthecombination |
| Combination1 | Receivablesfromrelatedcompanies |
| Combination2 | Receivablesfromhotelservices |
| Combination3 | Otherreceivables |
Fortheaccountsreceivableclassifiedasacombination,theCompanyreferstothehistoricalcreditlossexperience,andcombinesthecurrentsituationandtheforecastoffutureeconomicconditions,toprepareacomparisontableoftheageofaccountsreceivableandtheexpectedcreditlossrateforitsentiredurationandcalculatetheexpectedcreditloss.
13.ReceivablesfinancingIfafinancialassetmeetsthefollowingconditionsatthesametime,itisrecognizedasafinancialassetsatfairvaluethroughothercomprehensiveincome:theCompany’sbusinessmodelformanagingthefinancialassetistobothcollectcontractualcashflowsandsellfinancialassets.Thecontractualtermsofthefinancialassetstipulatethatthecashflowsgeneratedonaparticulardateareonlyusedaspaymentofprincipalandinterestbasedontheamountofoutstandingprincipal.TheCompanytransfersthereceivablesheldbydiscountorendorsementwithahighfrequencyandalargeamount,anditsactualbusinessmodelofmanagementischaracterizedbybothreceivingcontractualcashflowsandsellingthem.Inaccordancewiththerelevantprovisionsaboutfinancialinstruments,thereceivablesmentionedabovearerecognizedasfinancialassetsatfairvaluethroughothercomprehensiveincome.
14.OtherreceivablesDeterminationmethodandaccountingtreatmentmethodofexpectedcreditlossofotherreceivablesTheCompanyadoptsthegeneralmodelofexpectedcreditlosstodealwithotherreceivables,asdetailedinNoteV
(10)“FinancialInstruments”.TheCompanyconsidersallreasonableandsubstantiatedinformation,includingforward-lookinginformation,toestimatetheexpectedcreditlossofotherreceivablesindividuallyorincombination.Whensinglefinancialassetscanevaluatetheexpectedcreditlossatareasonablecost,theCompanychoosestocalculatethecreditlossindividually.Whenasinglefinancialassetcannotevaluatetheexpectedcreditlossatareasonablecost,theCompanywilldividetheotherreceivablesintoseveralportfoliosinaccordancewiththecharacteristicsofcreditrisk,andtheexpectedcreditlossiscalculatedonthebasisofthecombination.Thebasisfordeterminingthecombinationisasfollows:
| Typeofcombination | Determiningthebasisofthecombination |
| Combination1 | Receivablesfromrelatedparties |
| Combination2 | Receivablesfromemployeereservefunds,deposits,andsecuritydeposits |
| Combination3 | ReceivablesnotinCombination1andCombination2 |
Forotherreceivablesdividedintoportfolios,theCompanyreferstothehistoricalcreditlossexperienceandcombinesthecurrentsituationandtheforecastoffutureeconomicconditions,tocalculatetheexpectedcreditlossbasedondefaultriskexposureandexpectedcreditlossrateinthenext12monthsorthewholeduration.
15.Inventory
15.1ClassificationofinventoriesInventoriesrefertothefinishedgoodsorcommoditiesheldforsaleindailyactivities,goodsinprogressintheproductionprocess,andconsumedmaterialsandsuppliesintheprocessofproductionorprovidingservices.
15.2MethodofvaluationfordeliveryofinventoryThemonthlyweightedaveragemethodisusedtodelivertheinventory.
15.3ThebasisfordeterminingthenetrealizablevalueofinventoriesandthemethodofaccruinginventorydepreciationreservesAtthebalancesheetdate,inventoriesaremeasuredatthelowerofcostandnetrealizablevalue.Ifthenetrealizablevalueisbelowthecostofinventories,aprovisionfordeclineinvalueofinventoriesismade.Forinventoriesdirectlyusedforsale,inthenormalproductionandoperationprocess,thenetrealizablevalueisdeterminedbytheamountoftheestimatedsellingpriceoftheinventorylesstheestimatedsalescostandrelevanttaxesandfees;formaterialinventoriesthatneedtobeprocessed,inthenormalproductionandoperationprocess,thenetrealizablevalueisdeterminedbytheamountoftheestimatedsellingpriceoffinishedproductsproducedlesstheestimatedcosttobeoccurredduringtheproducingprocess,theestimatedsellingexpensesandrelatedtaxesandfees;onthebalancesheetdate,ifsomeoftheinventoryhascontractualpriceandtheothersdonot,thenetrealizablevalueisdeterminedseparatelyandbycomparingwithitscorrespondingcost,theamountoftheprovisionforinventorydepreciationorreversalisdeterminedseparately.
15.4InventorystocktakingsystemTheperpetualinventorysystemismaintainedforinventorystocktakingsystem.
15.5Amortizationoflow-valueconsumablesandpackages
(1)Low-valueconsumablesLow-valueconsumablesareamortizedbyone-timewrite-off.
(2)PackagesPackagesareamortizedbyone-timewrite-off.
16.Contractassets
16.1MethodandstandardfordeterminationofcontractassetsTheCompanylistscontractassetsorcontractliabilitiesinthebalancesheetbasedontherelationshipbetweentheperformanceofobligationsandcustomerpayments.Theconsideration(exceptthereceivables)thattheCompanyhastherighttoreceiveinexchangeforgoodsorservicesthattheCompanyhastransferredtothecustomerislistedascontractassets.
16.2MethodsfordeterminingandaccountingofexpectedcreditlossofcontractassetsForcontractassets,whethersignificantfinancingisinvolvedinornot,thesimplifiedmodelofexpectedcreditlossisadopted.TheCompanywillalwaysmeasureitsprovisionforlossbasedontheamountequivalenttotheexpectedcreditlossofitsentireduration,andtheincreaseorreversalamountoftheprovisionforlossresultingtherefromisincludedintheprofitandlossoftheperiodasanimpairmentlossorgain.
17.ContractcostsContractcostsaredividedintocontractperformancecostsandcontractacquisitioncosts.ThecostincurredbytheCompanytoperformthecontractisrecognizedasanassetasthecontractperformancecostwhenmeetingthefollowingconditions:
1.Thecostisdirectlyrelatedtoacurrentorexpectedcontract,includingdirectlaborandmaterialsexpenses,manufacturingexpenses(orsimilarexpenses),clearlydefinedcostsbornebythecustomer,andothercostsincurredonlyduetothecontract;
2.ThecostincreasestheCompany'sfutureresourcesforfulfillingcontractobligations;
3.Thecostisexpectedtoberecovered.IftheincrementalcostincurredbytheCompanyforobtainingthecontractisexpectedtoberecovered,itisrecognizedasanassetasthecostofobtainingthecontract;however,iftheamortizationperiodoftheassetdoesnotexceedoneyear,theCompanycouldincludeitinthecurrentprofitsandlosseswhenitoccurs.Assetsrelatedtocontractcostsareamortizedonthesamebasisastherevenueofgoodsorservicesrelatedtotheasset.Ifthebookvalueofassetsrelatedtocontractcostsishigherthanthedifferencebetweenthefollowingtwoitems,theCompanywillmakeprovisionsforimpairmentfortheexcesspartandrecognizeitastheassetimpairmentloss:
1.Theremainingconsiderationexpectedtobeobtainedduetothetransferofgoodsorservicesrelatedtotheasset;
2.CostsestimatedtoincurforthetransferoftherelatedgoodsorservicesIftheaforementionedassetimpairmentprovisionissubsequentlyreversed,thebookvalueoftheassetafterreversalshallnotexceedthebookvalueoftheassetonthedateofreversalundertheassumptionthatnoimpairmentprovisionismade.
18.HoldingforsaleTheCompanydividesthecorporatecomponents(ornon-currentasset)thatmeetallofthefollowingconditionsintoholdingforsale:(1)Basedontheusualpracticeofsellingsuchassetsordisposalgroupsinsimilartransactions,theycanbesoldimmediatelyundercurrentconditions;(2)Thesaleishighlyprobable,aresolutionhasbeenmadeonasaleplan,afirmpurchasecommitment(afirmpurchasecommitmentreferstoalegallybindingpurchaseagreementsignedbytheenterpriseandotherparties.Theagreementhasimportantitemsabouttransactionprice,timeandsufficientlyseveredefaultpenaltysothereislittlepossibilityofsignificantadjustmentorrevocationoftheagreement)hasbeenobtainedanditisexpectedthatthesalewillbecompletedwithinoneyear.Approvalsfromrelevantauthoritiesorregulatoryauthoritieshavebeenobtainedinaccordancewithrelevantregulations.TheCompanyadjuststheexpectednetsalvagevalueheldforsaletoreflectthenetamountofitsfairvaluelesscoststosell(notoveritsoriginalbookvalue).Thedifferencebetweentheoriginalbookvalueandtheadjustednetresidualvalueisincludedintheprofitorlossofthecurrentperiodasanassetimpairmentloss.Atthesametime,provisionforimpairmentofassetsheldforsaleismade.Fortheamountofimpairmentlossofassetsconfirmedbythedisposalgroupheldforsale,thebookvalueofgoodwillinthedisposalgroupshouldbeoffsetfirst,andthenthethebookvalueshouldbeoffsetontheproportionofthebookvalueofvariousnon-currentassetsinthedisposalgroupwhichisapplicabletothemeasurementrequirementsofthisstandard.Ifthenetvalueofthefairvalueofthenon-currentassetsheldforsaleonthebalancesheetdatelessthanthesellingexpensesincreases,theamountofthepreviouswrite-downshallberestored,itshallbereversedwithintheamountofassetimpairmentlossrecognizedafterbeingclassifiedasheldforsale,andthereversedamountshallbeincludedinthecurrentprofitandloss.Theamountofthelossisreversedandtheamountreversedisincludedinthecurrentprofitorloss.Impairmentlossesonassetsrecognizedpriortoclassificationasheldforsaleshallnotbereversed.Ifthenetvalueofthefairvalueofthedisposalgroupheldforsaleonthesubsequentbalancesheetdaylessthanthesellingexpensesincreases,theamountpreviouslywrittendownshallberestored,itshallbereversedwithintheamountofassetimpairmentlossrecognizedbythenon-currentassetswhichareapplicabletothemeasurementrequirementsofthisstandardafterbeingclassifiedasheldforsale,andthereversedamountisincludedinthecurrentprofitorloss.Thebookvalueofthegoodwillthathasbeenoffsetandtheassetimpairmentlossrecognizedbeforethenon-currentassetsapplicabletothemeasurementofthisstandardareclassifiedasheldforsaleshallnotbereversed.Forthesubsequentreversaloftheassetimpairmentlossconfirmedbythedisposalgroupheldforsale,thefacevalueshallbeincreasedontheproportionofthebookvalueofvariousnon-currentassetsapplicabletothemeasurementrequirementsofthisstandardinthedisposalgroupexceptthegoodwill.IftheCompanylosescontrolofthesubsidiarybecauseofsomereasonsincludingitssaleofinvestmentsinthesubsidiary,itshallclassifytheoverallinvestmentinthesubsidiaryasheldforsaleintheparentcompany’sindividualfinancialstatementsandclassifyalltheassetsandliabilitiesofthesubsidiaryasheldforsaleintheconsolidatedFinancialStatementswhentheinvestmentinthesubsidiarytobesoldmeetsthecriteriafortheheldforsale,whethertheCompanyretainspartoftheequityinvestmentafterthesale.
19.DebtinvestmentTheCompanyusesthegeneralmodelofexpectedcreditlossesfordebtinvestment.Fordetails,pleaserefertoNoteV.(10).“FinancialInstruments”.
20.OtherdebtinvestmentNone
21.Long-termreceivablesNone
22.Long-termequityinvestments
22.1Determinationofinvestmentcosts
(1)Incasetheenterprisemergersareundersamecontrolandthecombiningpartyofferscombinedconsiderationbypayingincash,transferringnon-cashassets,assumingdebtorissuingequitysecurities,theinitialinvestmentcostshallbebookvalueoftheshareofthecombinedpartyowner’sequityintheconsolidatedfinancialstatementsofthefinalcontrolpartyonthecombinationdate.Capitalreserves(capitalpremiumorequitypremium)areadjustedbasedonthedifferencebetweeninitialinvestmentcostinthelong-termequityinvestmentandbookvalueofthepaidmergerconsiderationorthetotalamountofthefacevalueoftheissuedshares;ifcapitalreservesareinsufficienttowrite-downs,itneedstoadjusttheretainedearnings.Whereanenterprisemergerunderthesamecontrolisrealizedstepbystep,theinitialinvestmentcostshallbetheowner’sequityshareinthecombinedparty’sbookcalculatedonshareholdingratioonthemergerdate.Thedifferencebetweentheinitialinvestmentcostandthebookvalueoftheoriginallong-termequityinvestmentplusthesumofthebookvaluesoffurtherconsiderationpaidforthenewsharesonthemergerdateisadjustedforcapitalreserve(capitalpremiumorequitypremium).Ifcapitalreserveisinsufficienttooffset,itneedstoadjusttheretainedearnings.
(2)Iftheenterprisemergersareunderthesamecontrol,theinitialinvestmentcostshallbethefairvalueofmergerconsiderationpaidontheacquisitiondate.
(3)Exceptforthesituationofenterprisemerger:ifthepurchaseispaidincash,theinitialinvestmentcostshallbethepurchasepriceactuallypaid;Whereequitysecuritiesareissued,thefairvalueofequitysecuritiesissuedshallbetakenastheinitialinvestmentcost;Whereaninvestorinvests,theinitialinvestmentcostshallbethevalueagreeduponintheinvestmentcontractoragreement(exceptwherethevalueagreeduponinthecontractoragreementisnotfair).
22.2SubsequentmeasurementandrecognitionmethodsofprofitsandlossesForthelong-termequityinvestmentcontrolledbytheCompanytotheinvestee,theCompanyshalladoptthecostmethodintheindividualfinancialstatementsoftheCompany;long-termequityinvestmentswithjointcontrolorsignificantinfluenceshallbeaccountedforusingtheequitymethod.
Underthecostmethod,along-termequityinvestmentismeasuredatinitialinvestmentcost.Exceptforthethepriceactuallypaiduponinvestmentorcashdividendsorprofitsalreadydeclaredbutnotyetpaidintheconsideration,investmentincomeisrecognizedintheperiodinaccordancewiththeattributableshareofcashdividendsorprofitdistributionsdeclaredbytheinvestee.Andatthesameinaccordancewiththerelevantassetimpairmentpolicy,whetherthelong-terminvestmentisdeclinedinvalueshallbeconsidered.Forcheckingbytheequitymethod,iftheinitialinvestmentcostofthelong-termequityinvestmentisgreaterthanthefairvalueshareofthenetidentifiableassetsoftheinvesteeintheinvestment,thedifferencebetweenthemshallbeclassifiedasinitialinvestmentcostofthelong-termequityinvestment;iftheinitialinvestmentcostofthelong-termequityinvestmentissmallerthanthefairvalueshareofthenetidentifiableassetsoftheinvesteeintheinvestment,thedifferenceisincludedincurrentprofitandlossandthecostofthelong-termequityinvestmentisadjusted.Whentheequitymethodisadopted,aftertheacquisitionoflong-termequityinvestment,theinvestmentprofitandlossshallberecognizedandthebookvalueoflong-termequityinvestmentshallbeadjustedaccordingtotheshareofnetprofitandlossrealizedbytheinvesteethatshouldbeenjoyedorshared.Upontheconfirmationoftheenjoyedshareofthenetprofitandlossfromtheinvestedentity,itshallbemadeonthebasisofthefairvalueoftheidentifiableassetsoftheinvesteewhentheinvestmentisacquired,accordingtothecompany'saccountingpoliciesandaccountingperiods,offsettinginsidertradingprofitsandlossesbetweenassociatedenterprisesandjointventures,calculatingtheproportionthatshallbeincludedininvestoraccordingtotheshareholdingratio(butifinsidertradinglossbelongstotheassetimpairmentloss,itshouldbefullyconfirmed)andadjustingthenetprofitoftheinvestee.Accordingtotheprofitorcashdividenddeclaredtobedistributedbytheinvestee,thesharepayableshallbecalculated,andcorrespondinglythebookvalueofthelong-termequityinvestmentisreduced.Thecompanyshallrecognizethenetlossincurredbytheinvesteetotheextentthatthebookvalueofthelong-termequityinvestmentandotherlong-termrightsandinterestssubstantiallyconstitutingthenetinvestmentoftheinvesteeshallbewrittendowntozero,exceptwherethecompanyisobligatedtobearadditionallosses.Forthechangesofowners'equityotherthanthenetprofitandlossoftheinvestee,thebookvalueofthelong-termequityinvestmentshallbeadjustedandincludedintheowners'equity.
22.3DeterminethebasisofcontrollingandsignificantinfluenceontheinvestedentityControlreferstohavingthepowerovertheinvestee,enjoyingthevariablereturnthroughparticipatingintheinvestee'srelevantactivities,andhavingtheabilitytousethepowerovertheinvesteetoaffectthereturnamount;majorinfluencemeansthattheinvestorhastherighttoparticipateinthedecisionmakingofthefinancialandbusinesspoliciesoftheinvestee,butcannotcontrolorjointlycontroltheformulationofthesepolicieswithotherparties.
22.4Disposaloflong-termequityinvestments
(1)Partialdisposalofalong-termequityinvestmentinasubsidiarywithoutlossofcontrol
Ifpartofthelong-termequityinvestmentinthesubsidiaryisdisposedofwithoutlosingcontrol,thedifferencebetweenthedisposalpriceandthebookvaluecorrespondingtothedisposalinvestmentshallberecognizedasthecurrentinvestmentincome.
(2)LossofcontroloverasubsidiaryforpartialdisposalofanequityinvestmentorotherreasonsIftheCompanylosescontroloverthesubsidiaryduetothedisposalofequityinvestmentorotherreasons,thebookvalueofthelong-termequityinvestmentcorrespondingtothesoldequityshallbecarriedforward,andthedifferencebetweenthesalepriceandthebookvalueofthedisposallong-termequityinvestmentshallberecognizedasinvestmentincome(loss);meanwhile,theremainingequityshallberecognizedaslong-termequityinvestmentorotherrelevantfinancialassetsaccordingtoitsbookvalue.Iftheremainingequityafterdisposalisabletoexertjointcontrolorsignificantinfluenceonthesubsidiary,accountingtreatmentshallbeconductedaccordingtotherelevantprovisionsoftheconversionfromcostmethodtoequitymethod.
22.5MethodsofimpairmentassessmentanddeterminingtheprovisionforimpairmentlossForthelongterminvestmentinsubsidiaries,jointventureandassociates,ifthereisanobjectiveevidencefortheimpairmentonthebalancesheetdate,thecorrespondingimpairmentprovisionismadebasedonthedifferencebetweenthebookvalueandtherecoverableamount.
23.InvestmentpropertiesMeasurementmodelofInvestmentpropertiesMeasuredbycostmethodDepreciationoramortizationmethod
23.1TheCompany’sinvestmentpropertiesincludethelanduserightthatisleasedout,thelanduserightheldfortransferuponcapitalappreciation,andthebuildingthatisleasedout.
23.2TheCompanyinitiallymeasurestheInvestmentpropertiesatcost,usesthecostmodelforsubsequentmeasurement,andadoptsadepreciationoramortizationpolicyfortheinvestmentproperty,whichisconsistentwiththatforfixedassetsorintangibleassets.Onthebalancesheetdate,iftherearesignsthattheInvestmentpropertiesisimpaired,thecorrespondingimpairmentprovisionshallbemadebasedonthedifferencebetweenthebookvalueandtherecoverableamount.
24.FixedAssets
(1)Recognitioncriteriaforfixedassets
24.1Fixedassetsaretangibleassetsthatareheldforuseintheproductionorsupplyofgoodsorservices,forrentaltoothers,orforadministrativepurposes,andhaveusefullivesofmorethanoneaccountingyear.Fixedassetsareinitiallymeasuredatacquisitioncost,anddepreciatedoveritsusefullifeusingthestraight-linemethodsincethemonthsubsequenttotheoneinwhichitisreadyforintendeduse.
(2)Deprecationmethodsforfixedassets
| Category | Deprecationmethods | Depreciationperiod(years) | Residualvaluerate(%) | Annualdepreciationrate(%) |
| Buildings | Straight-line | 20-40年 | 5% | 2.38-4.75% |
| Decorationofbuildings | Straight-line | 4-10年 | - | 10.00-25.00% |
| Transportationequipment | Straight-line | 4年 | 5% | 23.75% |
| Electronicequipment | Straight-line | 3-5年 | 5% | 19.00-31.67% |
| Officeequipment | Straight-line | 3-5年 | 5% | 19.00-31.67% |
(3)Basisofasserting,valuationmethodanddepreciationmethodforfixedassetsacquiredunderfinancingleasesNone
25.Constructioninprogress
25.1Constructioninprogressshouldbetransferredintofixedassetsatitsactualcostsafterithasreachedtheworkingconditionforitsintendeduse.Constructioninprogressthathasreachedtheworkingconditionbutnotcompleted,shallbetransferredatitsestimatedcosts.Theestimatedcostofconstructioninprogressshouldbeadjustedagainsttheactualcostsaftercompletionofsettlement,whilethedepreciationalreadyprovidedwillnotbeadjusted.
25.2Onthebalancesheetdate,ifthereisanyindicationthattheconstructioninprogressmaybeimpaired,thecorrespondingimpairmentprovisionshallbemadebasedonthedifferencebetweenthebookvalueandtherecoverableamount.
26.Borrowingcost
26.1RecognitioncriteriaofcapitalizationBorrowingcostsarecapitalizedwhenexpendituresforsuchassetandborrowingcostsareincurredandactivitiesrelatingtotheacquisition,constructionorproductionoftheassetthatarenecessarytopreparetheassetforitsintendeduseorsalehavecommenced.Otherborrowingcostsshallberecognizedasexpenseswhenincurredandshallbeincludedinthecurrentprofitandloss.
26.2Periodofcapitalization
(1)Whenborrowingcostsmeetthefollowingconditionsatthesametime,capitalizationstarts1)Assetexpenditurehasoccurred.2)Borrowingcostshaveincurred3)Thepurchase,constructionorproductionactivitiesnecessarytomaketheassetsusableorsaleablehavestarted.
(2)Capitalizationofborrowingcostsissuspendedduringperiodsinwhichtheacquisition,constructionorproductionofaqualifyingassetissuspendedabnormallyandwhenthesuspensionisforacontinuousperiodofmorethan3months.Capitalizationissuspendeduntiltheacquisition,constructionorproductionoftheassetisresumed.
(3)Capitalizationofborrowingcostsceaseswhenthequalifyingassetbeingacquired,constructedorproducedbecomesreadyforitsintendeduseorsale.
26.3CapitalizationamountofborrowingcostsWherefundsareborrowedforthepurposeofpurchasing,constructingorproducingassetsthatmeetthecapitalizationconditions,theamountofinteresttobecapitalizedistheactualinterestexpensesincurredonthatborrowingfortheperiod(includingtheamortizationofdiscountsorpremiumsdeterminedinaccordancewiththeactualinterestratemethod),lessanybankinterestearnedfromdepositingtheborrowedfundsbeforebeingusedontheassetoranyinvestmentincomeonthetemporaryinvestment.Wheregeneralborrowingsareoccupiedforthepurchase,constructionorproductionofassetsthatmeetthecapitalizationconditions,theCompanydeterminestheamountofinteresttobecapitalizedonsuchborrowingsbyapplyingacapitalizationratetotheweightedaverageoftheexcessofcumulativeexpendituresontheassetovertheamountsofspecific-purposeborrowings.Thecapitalizationrateistheweightedaverageoftheinterestratesapplicabletothegeneralborrowings.
27.BiologicalassetsNone
28.OilandgasassetsNone
29.Right-of-useassets
29.1Conditionsforrecognitionofright-of-useassets
Right-of-useassetsrefertotherightoftheCompany,asalessee,tousetheleasedassetsduringtheleaseterm.TheCompanyconfirmstheright-of-useassetstotheleaseonthestartingdateoftheleaseterm.Theright-of-useassetisrecognizedwhentheeconomicbenefitsarelikelytoflowinandatthesametime,thecostcanbemeasuredreliably.
29.2Initialmeasurementofright-of-useassetsTheCompanyshallmaketheinitialmeasurementofright-of-useassetsbasedonthecost.Thecostincludesthefollowingfouritems:1）theinitialmeasuredamountoftheleaseliability;2）thepaymentforleasemadeonorbeforethestartingdateoftheleaseterm,deductingtheamountofleaseincentiveenjoyedifthere’sany;3)theincurredinitialdirectexpensesofthelessee;4)theexpectedcoststodismantleandremovetheleasedassets,restorethesitewheretheleasedassetsarelocated,orrestoretheleasedassetstotheagreedstatusstipulatedintheleasingterms.
29.3Subsequentmeasurementofright-of-useassets
(1)TheCompanyadoptsthecostmodeltomakesubsequentmeasurementoftheright-of-useassets.
(2)TheCompanyshalldepreciatetheright-of-useassetsinastraight-linemethod.Ifitisreasonabletoconfirmtheownershipoftheleasedassetsattheendoftheleaseterm,deprecationshallbeaccruedfortheremainingservicelifeoftheleasedassets,andifnot,deprecationshallbeaccruedontheshortertermbetweentheleasetermandtheremainingservicelifeoftheleasedassets.
(3)WhentheCompanyremeasurestheleaseliabilitybasedonthepresentvalueoftheleasepaymentafterthechange,andadjuststhebookvalueoftheright-of-useassetsaccordingly.intheeventthatthebookvalueofright-of-useassetshasbeendeductedtozero,andthefurtherdeductionofleaseliabilityisneeded,theCompanyshallincludetheremainingamountinthecurrentprofitandloss.
30.Intangibleassets
(1)Valuationmethod,servicelifeandimpairmenttest
30.1Intangibleassets,includinglanduserightsetc.arerecognizedatcosts.
30.2Intangibleassetswithfiniteusefullivesareamortizedinaccordancewiththeexpectedrealizationmethodoftheeconomicbenefitsrelatedtotheintangibleassetoveritsestimatedusefullife.Ifitisnotpossibletoreliablydeterminetheexpectedrealizationmethod,usethestraight-linemethod.Thespecificyearsareasfollows:
| Item | Validityperiod(Year) |
| Landuserights | 40 |
| Softwareuserights | 5-10 |
| Trademarkrights | 10 |
30.3Onthebalancesheetdate,ifthereisanyindicationthattheintangibleassetswithdefinitelifehasbeenimpaired,thecorrespondingimpairmentprovisionshallbemadebasedonthedifferencebetweenthebookvalueandtherecoverableamount.Intangibleassetswithuncertainservicelifeandintangibleassetsthathavenotyetreachedtheusablestate,whetherornottherearesignsofimpairment,aretestedforimpairmenteveryyear.
(2)AccountingpoliciesforinternalresearchanddevelopmentexpenditureExpenditureintheresearchphaseofinternalresearchanddevelopmentprojectsisincludedinthecurrentprofitsandlosseswhentheyoccur.Expenditureduringthedevelopmentphasethatmeetsthefollowingconditionsatthesametimeisrecognizedasintangibleasset.(1)Itistechnicallyfeasibletocompletetheintangibleassetsothatitwillbeavailableforuseorsale;(2)TheCompanyhastheintentiontocompletetheintangibleassetanduseorsellit;(3)TheCompanycandemonstratethewaysinwhichtheintangibleassetwillgenerateeconomicbenefits,includingtheevidenceoftheexistenceofamarketfortheoutputoftheintangibleassetortheintangibleassetitselfor,ifitistobeusedinternally,theusefulnessoftheintangibleasset;(4)Theavailabilityofadequatetechnical,financialandotherresourcestocompletethedevelopmentandtheabilitytouseorselltheintangibleasset;and(5)Theexpenditureattributabletotheintangibleassetduringitsdevelopmentphasecanbereliablymeasured.
31.Impairmentoflong-termassetsTheCompanymakejudgementonwhetherthereisanyindicationthattheassetmaybeimpairedatthebalancesheetdate.Thegoodwillandintangibleassetswithanuncertainusefulliferesultingfromabusinesscombinationwastestedforimpairmentannually,regardlessofwhetherthereisanyindicationofimpairment.
Theimpairmentshouldberecordedwhentheassetsoccurthefollowingindications:
(1)Themarketpriceofassetsfellsharplyinthecurrentperiod,andthedeclinewassignificantlyhigherthantheexpecteddeclineduetothepassageoftimeornormaluse;(2)Significantchangesoftheeconomic,technicalorlegalenvironmentinwhichtheenterpriseoperatesandthemarketinwhichtheassetsarelocatedwilloccurinthecurrentperiodorinthenearfuture,whichwilladverselyaffectthecompany;(3)Themarketinterestrateorothermarketinvestmentreturnshaveincreasedduringthecurrentperiod,whichaffectsthecompany’sdiscountrateforcalculatingthepresentvalueoftheexpectedfuturecashflowofassets,leadingtotherecoverableamounthasbeengreatlyreduced;(4)Thereisevidencethattheassetshavebecomeobsoleteortheirentitieshavebeendamaged;(5)Theassetshavebeenorwillbeidle,terminatedorplannedtobedisposedofinadvance;(6)Theevidencereportedbytheenterpriseindicatesthateconomicperformanceoftheassetshasbeenorwillbelowerthanexpected,suchasthenetcashflowcreatedbytheassetsortherealizedoperatingprofit(orloss)isfarlower(orhigher)thantheexpectedamount;(7)Otherindicationsthattheassetmayhavesignsofimpairment.Ifthereareanysignsofassetimpairment,therecoverableamountshouldbeestimated.Therecoverableamountshouldbedeterminedbasedonthehigherofthenetamountofthefairvalueoftheassetminusthedisposalcostsandthepresentvalueoftheestimatedfuturecashflowsoftheasset.Disposalcostsincludelegalcostsrelatedtoassetdisposal,relatedtaxes,transportationcharges,anddirectcostsincurredtomaketheassetavailableforsale.Thepresentvalueoftheestimatedfuturecashflowsoftheassetshouldbedeterminedbydiscountingtheamountoftheassetbasedontheexpectedfuturecashflowgeneratedduringthecontinuoususeoftheassetandatthetimeoffinaldisposal.Thepresentvalueoftheexpectedfuturecashflowoftheassetshouldtakeintoaccountfactorssuchastheestimatedfuturecashflowoftheasset,itsusefullife,andthediscountrate.Themeasurementresultsoftherecoverableamountindicatethatiftherecoverableamountoftheassetislowerthanitsbookvalue,thebookvalueoftheassetshouldbewrittendowntotherecoverableamount,andthereducedamountshouldberecognizedastheassetimpairmentlossandincludedinthecurrentprofitandloss.Meanwhile,correspondingprovisionsforassetimpairmentshouldbemade.
32.Long-termdeferredexpenseLong-termdeferredexpensearerecordedaccordingtotheactualamountincurredandamortizedintheperiodofbenefitorwithintheprescribedperiod.Ifthelong-termdeferredexpenseitemcannotbenefitthesubsequentaccountingperiod,theamortizedvalueoftheitemthathasnotbeenamortizedwillbetransferredintothecurrentprofitandloss.
33.ContractliabilitiesTheCompanylistscontractassetsorcontractliabilitiesinthebalancesheetbasedontherelationshipbetweentheperformanceofobligationsandcustomerpayments.Theobligationoftransferringproductsorprovidingservicesto
customersaftertheCompanyhasreceivedtheconsiderationfromcustomersortheconsiderationisreceivable,islistedascontractliabilities.
34.Employeecompensation
(1)Accountingtreatmentmethodsofshort-termemployeeremunerationDuringtheaccountingperiodwhentheemployeesprovideservices,theCompanyshallrecognizetheactualshort-termcompensationasliabilitiesandrecorditintothecurrentprofitandlossorthecostofrelatedassets.Amongthem,non-monetarywelfareismeasuredaccordingtofairvalue.
(2)Accountingtreatmentmethodsofpost-employmentbenefitsNone
(3)AccountingtreatmentmethodsofterminationbenefitsWhentheCompanyterminatestheemploymentrelationshipwithemployeesbeforetheexpirationoftheemploymentcontractsorprovidescompensationasanoffertoencourageemployeestoacceptvoluntaryredundancy,iftheCompanyhasaformalplanforterminationofemploymentrelationshiporhasmadeanofferforvoluntaryredundancywhichwillbeimplementedimmediately,andtheCompanycannotunilaterallywithdrawfromtheterminationplanortheredundancyoffer,aprovisionforthecompensationpayablearisingfromtheterminationofemploymentrelationshipwithemployeesisrecognizedwithacorrespondingchargetotheprofitorlossfortheperiod,andincludeincurrentprofitsorlosses.
(4)Accountingtreatmentmethodsofotherlong-termemployeebenefitsTheCompany'semployeesparticipatedinthesocialbasicendowmentinsuranceorganizedandimplementedbythelocallaborandsocialsecuritydepartments.Thecompanypaysendowmentinsurancepremiumtoorgnaizationofagencyoflocalsocietyprimaryendowmentinsuranceaccordingtothesocialprimaryendowmentinsurancepaybaseandscalewithlocalregulationmonthly.Aftertheemployeeretires,thelocallaborandsocialsecuritydepartmenthastheresponsibilitytopaythesocialbasicpensiontotheretiredemployee.Theaccountingperiodduringwhichthecompanyprovidesservicestoitsemployees,andtheamountcalculatedinaccordancewiththeabovesocialsecurityprovisionsshallberecognizedasaliabilityandrecordedintothecurrentprofitandlossorthecostofrelevantassets.
35.LeaseliabilitiesOnthestartingdateoftheleaseterm,theCompanyrecognizesthepresentvalueoftheunpaidleasepaymentasleaseliabilities.Whencalculatingthepresentvalueoftheleasepayment,theCompanyadoptstheinterestrateimplicitinleaseasthediscountrate.Intheeventofanunconfirmedinterestrateimplicitinlease,theCompanyadoptsincrementalborrowingrateasthediscountrate.Thebalancebetweentheleasepaymentanditspresentvalueisdeemedtobeanunrecognizedfinancingexpense,whoseinterestexpenseshallbecalculatedonthediscountrateofpresentvalueofconfirmedleasepaymentduringeachperiodoftheleaseterm,andbeaddedtothe
currentprofitandloss.Thevariableleasepaymentsthatarenotincludedintheleaseliabilitymeasurementchargetothecurrentprofitandlossonoccurring.Afterthestartoftheleaseterm,theCompanyremeasurestheleaseliabilityatthepresentvalueofthechangedleasepaymentamountwhenthereisachangeintheactualfixedpaymentamount,theexpectedpayablefortheresidualvalueoftheguarantee,theindexorratiousedtodeterminetheleasepayment,orintheevaluationresultsoractualexerciseofthepurchaseoption,therenewaloptionorterminationoption.
36.Provisions
36.1TheCompanyshallrecognizethisobligationascontingentliabilitywhentheobligationsarisingfromtheprovisionofexternalguarantees,litigationmatters,productqualityguarantees,losscontractsandothercontingenciesbecomethecurrentobligationsassumedbytheCompanyandthefulfillmentofsuchobligationsislikelytoresultintheoutflowofeconomicbenefitsfromthecompanyandtheamountofsuchobligationscanbereliablymeasured.
36.2TheCompanyshallinitiallymeasuretheprovisionsaccordingtothebestestimateoftheexpensesrequiredtoperformtherelevantcurrentobligations,andshallreviewthebookvalueoftheestimatedliabilitiesonthebalancesheetdate.
37.Share-basedpayments
37.1Categoriesofshare-basedpaymentsShare-basedpaymentscompriseequity-settledandcash-settledpayments.
37.2Determinationoffairvalueofequityinstruments
(1)Ifthereisanactivemarket,itshouldbedeterminedbasedonthequotedpriceintheactivemarket.
(2)Ifthereisnoactivemarket,itisdeterminedbyusingvaluationtechniques,includingconsideringthepricesusedinrecentmarkettransactionsmadebypartiesfamiliarwiththesituationandtakingtransactionsvoluntarily,andconsideringthecurrentfairvaluesandcashflowsofotherfinancialinstrumentsthataresubstantiallythesamediscountmethodandoptionpricingmodel.
37.3BasisfordeterminingthebestestimateofexercisableequityinstrumentsTheCompanywouldmakebestestimateinaccordancewiththenewlyacquiredinformationsuchaschangesinthenumberofemployeesentitledtoequityinstruments.
37.4Relevantaccountingtreatmentofimplementation,modificationandterminationofshare-basedpaymentplan
(1)Equity-settledshare-basedpaymentsEquity-settledshare-basedpaymentsthatareimmediatelyavailableafterthegrantinexchangeforemployeeservicesareincludedinrelatedcostsorexpensesbasedonthefairvalueoftheequityinstrumentsonthegrantdate,andthecapitalreserveisadjustedaccordingly.Equity-settledshare-basedpaymentsforservicesthathavebeencompletedduringthewaitingperiodorthatareexercisableonlyiftherequiredperformanceconditionsaremetare
exchangedforemployeeservices.Ateachreportingdateduringthewaitingperiod,thebestestimateofthenumberofexercisableequityinstrumentsisbasedonthefairvalueoftheequityinstrumentgrantdate,theservicesobtainedinthecurrentperiodareincludedinrelatedcostsorexpenses,andthecapitalreserveisadjustedaccordingly.Forequity-settledshare-basedpaymentsinexchangeforservicesprovidedbyotherparties,ifthefairvalueofservicesprovidedbyotherpartiescanbereliablymeasured,theyshouldbemeasuredatthefairvalueoftheservicesofotherpartiesontheacquisitiondate;ifthefairvaluesofservicesprovidedbyotherpartiescannotbemeasuredreliably,butfortheequityinstrumentswhosefairvaluecanbereliablymeasured,theyshouldbemeasuredatthefairvalueoftheequityinstrumentonthedateofserviceacquisitionandincludedinrelatedcostsorexpenses,increasingowner’sequityaccordingly.
(2)Cash-settledshare-basedpaymentsThecash-settledshare-basedpaymentinexchangeforemployeeservicesimmediatelyafterthegrantisincludedintherelatedcostsorexpensesatthefairvalueoftheliabilityassumedbytheCompanyonthegrantdate,andtheliabilityisincreasedaccordingly.Cash-settledshare-basedpaymentsforservicesthathavebeencompletedwithinthewaitingperiodorthathavemettherequiredperformanceconditionsinexchangeforemployeeservicesarebasedonthebestestimateoftherighttoexerciseateachbalancesheetdateduringthewaitingperiod,Accordingtothefairvalueofliabilitiesassumedbythecompany,theservicesobtainedinthecurrentperiodareincludedinrelatedcostsorexpensesandcorrespondingliabilities.
(3)ModifyingandterminatingthesharepaymentplanIftheamendmentincreasesthefairvalueoftheequityinstrumentsgranted,theCompanywillrecognizetheincreaseintheacquisitionofservicesinaccordancewiththeincreaseinthefairvalueoftheequityinstruments;iftheamendmentincreasesthenumberofequityinstrumentsgranted,thecompanywillincreasethevalueoftheequityinstruments.Thefairvalueiscorrespondinglyrecognizedasanincreaseinaccesstoservices;ifthecompanymodifiestheconditionsoftheexercisablerightsinamannerthatbenefitsemployees,thecompanyconsidersthemodifiedconditionsoftheexercisablerightswhenprocessingtheconditionsoftheexercisablerights.Iftheamendmentreducesthefairvalueoftheequityinstrumentgranted,theCompanycontinuestorecognizetheamountofservicesobtainedbasedonthefairvalueoftheequityinstrumentonthegrantdate,withoutconsideringthedecreaseinthefairvalueoftheequityinstrument;iftheamendmentreducestheequitygrantedforthenumberofinstruments,thecompanywilltreatthereductionasthecancellationofthegrantedequityinstruments;iftheconditionsoftheexercisablerightsaremodifiedinamannerthatisnotconducivetoemployees,therevisedconditionsoftheexercisablerightsarenotconsideredwhenprocessingtheconditionsoftheexercisablerights.IftheCompanycancelsthegrantedequityinstrumentsorclearsthegrantedequityinstrumentsduringthewaitingperiod(exceptforthosethatarecanceledbecausetheconditionsoftheexercisablerightsarenotmet),thecancellationorsettlementistreatedasanexpeditedexercisablerightandtheoriginalamountrecognizedduringtheremainingwaitingperiod.
38.OtherfinancialinstrumentssuchaspreferredstocksandperpetualbondsNone
39.RevenueAccountingpoliciesappliedinrevenuerecognitionandmeasurement
39.1Recognitionofincome
TheCompany’srevenueismainlyderivedfromeducationandtraining.TheCompanyhasfulfilleditsperformanceobligationinthecontract,thatis,torecognizerevenuewhenthecustomeracquirescontroloftherelevantgoods.
39.2Accordingtotherelevantprovisionsoftheincomestandards,theCompanyjudgesthatthenatureoftherelevantperformanceobligationsbelongsto“performanceobligationsperformedwithinacertainperiodoftime”or“performanceobligationsperformedatacertainpointoftime”,andrespectivelyrecognizestheincomeaccordingtothefollowingprinciples.
(1)IftheCompanymeetsoneofthefollowingconditions,itbelongstotheperformanceobligationwithinacertainperiodoftime:
1)ThecustomerobtainsandconsumestheeconomicbenefitsbroughtbytheCompany'sperformancewhentheCompanyfulfillsitsperformance.
2)ThecustomercancontroltheassetsunderconstructionduringtheperformanceoftheCompany.
3)TheassetsproducedbytheCompanyduringtheperformancehaveirreplaceableuses,andtheCompanyhastherighttocollectpaymentforthecumulativeperformancethathasbeencompletedsofarduringtheentirecontractperiod.Forperformanceobligationsperformedwithinacertainperiodoftime,theCompanyshallrecognizetheincomeaccordingtotheperformanceschedulewithinthatperiod,exceptwheretheperformanceschedulecannotbereasonablydetermined.TheCompanyconsidersthenatureofthegoodsandadopttheoutputmethodorinputmethodtodeterminetheappropriateprogressofperformance.
(2)Forperformanceobligationsthatarenotperformedwithinacertainperiodoftime,butareperformanceobligationsperformedatacertainpointoftime,theCompanyrecognizesrevenueatthepointwhenthecustomerobtainscontroloftherelevantproducts.Whenjudgingwhetherthecustomerhasobtainedcontroloftheproduct,theCompanyconsidersthefollowingsigns:
1)TheCompanyhasthecurrentrighttocollectpaymentforthegoodsorservices,thatis,thecustomerhasthecurrentpaymentobligationfortheproduct;
2)TheCompanyhastransferredthelegalownershipofthegoodstothecustomer,thatis,thecustomerhasthelegal
ownershipofthegoods;
3)TheCompanyhastransferredthegoodsinkindtothecustomer,thatis,thecustomerhastakenpossessionofthegoodsinkind;
4)TheCompanyhastransferredthelegalownershipoftheproductorthemainrisksandrewardsofownershiptothecustomer,thatis,thecustomerhasobtainedthemainrisksandrewardsintheownershipofthegoods;
5)Thecustomerhasacceptedthecommodityincontrol;
6)Otherindicationsthatcustomershavetakencontrolofthegoods.Specificpoliciesforrevenuerecognition:
TheCompany’srevenuemainlyincludestrainingrevenuefromthecommoncoursestrainingandthecontractualcoursestraining.Whenaface-to-facetraininginthecommoncoursesiscompleted,allthetrainingfeesreceivedinadvancearerecognizedasrevenue.Revenuefromonlinetrainingincommoncoursesisrecognizedonastraight-linebasisduringthevalidityperiodoftheserviceprovided.Non-refundableportionofadvancepaymentsreceivedforthecontractualcoursesisrecognizedasrevenueuponcompletionoftrainingservices.Accordingtotheagreementonthecontractualcourses,therefundpartoftheadvancereceivedisrecognizedasrevenuewhenthenon-refundableconditionsaremet.
39.3MeasurementofrevenueTheCompanyshallmeasurerevenueatthetransactionpriceallocatedtoeachindividualperformanceobligation.Indeterminingthetransactionprice,theCompanyconsiderstheinfluenceoffactorssuchasvariableconsideration,majorfinancingcomponentsinthecontract,non-cashconsideration,andconsiderationpayabletocustomers.
(1)VariableconsiderationTheCompanydeterminesthebestestimateofthevariableconsiderationbasedontheexpectedvalueorthemostlikelyamount,butthetransactionpriceincludingthevariableconsiderationshouldnotexceedtheaccumulatedrecognizedrevenuewhentherelevantuncertaintyiseliminated.Whenassessingwhetherthecumulativerecognizedincomeislikelynottobesignificantlyreversed,theenterpriseshallalsoconsiderthepossibilityandproportionoftheincomereversal.
(2)SignificantfinancingcomponentWherethereisasignificantfinancingcomponentinthecontract,theCompanyshalldeterminethetransactionpricebasedontheamountpayableincashontheassumptionthatthecustomeracquirescontrolofthegoods.Thedifferencebetweenthetransactionpriceandthecontractconsiderationshallbeamortizedbytheeffectiveinterestmethodduringthecontractperiod.
(3)Non-cashconsiderationIfthecustomerpaysnon-cashconsideration,thecompanyshalldeterminethetransactionpricebasedonthefairvalueofthenon-cashconsideration.Ifthefairvalueofthenon-cashconsiderationcannotbereasonablyestimated,
theCompanyshallindirectlydeterminethetransactionpricewithreferencetotheseparatesellingpriceofthegoodsitundertakestotransfertothecustomer.
(4)ConsiderationpayabletocustomerFortheconsiderationpayabletothecustomer,theconsiderationpayableshallbeoffsetbythetransactionprice,andthecurrentrevenueshallbeoffsetatthetimewhentherelevantrevenueisrecognizedandthepayment(orpromisedtopay)ofthecustomer’sconsiderationislater.Exceptwherethecustomerconsiderationisduetoobtainotherclearlydistinguishablegoodsfromthecustomer.Iftheenterprisepaysthecustomerconsiderationtoobtainotherclearlydistinguishablegoodsfromthecustomer,itshallconfirmthepurchasedgoodsinamannerconsistentwithotherpurchasesbytheenterprise.Iftheconsiderationpayablebytheenterprisetothecustomerexceedsthefairvalueoftheclearlydistinguishablecommodityobtainedfromthecustomer,theexcessamountshallbeoffsetagainstthetransactionprice.Ifthefairvalueoftheclearlydistinguishablecommodityobtainedfromthecustomercannotbereasonablyestimated,theenterpriseshalloffsetthetransactionpriceinfullfromtheconsiderationpayabletothecustomer.DifferencesinaccountingpoliciesforrevenuerecognitionduetodifferentbusinessmodelsNone
40.Governmentgrants
40.1Governmentgrantsincludeassetrelatedgovernmentgrantsandincomerelatedgovernmentgrants.
40.2Ifagovernmentgrantisintheformofmonetaryasset,itismeasuredattheamountreceivedorreceivable.Ifagovernmentgrantisintheformofanon-monetaryasset,itismeasuredatfairvalue.Ifthefairvaluecannotbereliablydetermined,itismeasuredatanominalamount.
40.3Thegovernmentgrantadoptsthetotalmethod
(1)Agovernmentgrantrelatedtoanassetisrecognizedasdeferredincome,andamortizedtoprofitorlossonareasonableandsystematicbasisovertheusefullifeoftherelatedasset.Iftherelevantassetsaresold,transferred,scrappedordamagedbeforetheendoftheirusefullives,theundistributedbalanceofrelateddeferredincomewillbetransferredtotheprofitorlossoftheassetdisposalinthecurrentperiod.
(2)Ifagovernmentgrantrelatedtoincomeisusedtocompensatefortherelatedexpensesorlossesinthesubsequentperiod,itshallberecognizedasdeferredincomeandshallberecordedinthecurrentprofitorlossinwhichtherelevantexpensesarerecognized;Forthecompensationofrelatedexpensesorlossesthathaveoccurred,theyshallbedirectlyincludedinthecurrentprofitsandlosses.Forgovernmentgrantsthatincludeboththeasset-relatedportionandtheincome-relatedportion,thedifferentpartsareseparatelyaccountedfor;ifitisindistinguishable,theoverallclassificationisrevenue-relatedgovernmentsubsidies.
40.4Governmentgrantsrelatedtothecompany’sdailyactivitiesinaccordancewiththenatureoftheeconomic
businessareincludedinotherincomeorwrittendowntherelatedcosts;governmentgrantsthatareunrelatedtothedailyactivitiesofthecompanyshallbeincludedinnon-operatingincomeandexpenditure.
41.Thedeferredincometaxassetsandthedeferredincometaxliabilities
41.1Accordingtothebookvalueoftheassets,liabilitiesanditstaxbasethedifferencebetweenthe(notconfirmedprojectasassetsandliabilitiesofitstaxbasecanbedeterminedinaccordancewiththeprovisionsofthetaxlaw,thetaxbaseandthedifferencebetweenthebooknumber),accordingtotheforecastoftheassetisrecoveredortheapplicabletaxratecalculationduringthedebtconfirmedDeferredtaxassetsanddeferredtaxliabilities.
41.2Confirmthedeferredincometaxassetstoprobablygetusedtomakingthedeductibletemporarydifferencesarelimitedtotheamountoftaxableincome.Duringthebalancesheetdate,thereisstrongevidencethatthefutureislikelytoobtainsufficienttaxableincometooffsetthedeductibletemporarydifference,confirmtheunconfirmeddeferredincometaxassetsinpreviousaccountingperiods.
41.3Onthebalancesheetdate,reviewthebookvalueofthedeferredincometaxassets,andifduringtheperiodofthefuturemaynotbeabletoobtainsufficienttaxableincometooffsetthebenefitofthedeferredincometaxassets,thewrite-downsonthebookvalueofthedeferredincometaxassets.Ifitislikelytoobtainsufficienttaxableincome,returntheamountofwrite-downs.
41.4TheCompany’scurrentincometaxanddeferredincometaxasrecordedintotheprofitsandlossesofthecurrentincometaxexpenses,orearnings,butdoesnotincludetheincometaxinthefollowingcircumstances:(1)Thebusinesscombination;(2)Directconfirmationoftransactionsoreventsintheowner’sequity.
42.Lease
42.1AccountingtreatmentofoperatingleasesTheCompanyaslesseeunderoperatingleases:operatingleasepaymentsarerecognizedonastraight-linebasisoverthetermoftherelevantlease,andareeitherincludedinthecostofrelatedassetorchargedtoprofitorlossfortheperiod.Initialdirectcostsincurredarechargedtoprofitorlossfortheperiod.Contingentrentsarechargedtoprofitorlossintheperiodinwhichtheyareactuallyincurred.TheCompanyaslessorunderoperatingleases:rentalincomefromoperatingleasesisrecognizedinprofitorlossonastraight-linebasisoverthetermoftherelevantlease.Initialdirectcostswithmorethananinsignificantamountarecapitalizedwhenincurred,andarerecognizedinprofitorlossonthesamebasisasrentalincomeovertheleaseterm.Otherinitialdirectcostswithaninsignificantamountarechargedtoprofitorlossintheperiodinwhichtheyareincurred.Contingentrentsarechargedtoprofitorlossintheperiodinwhichtheyactuallyarise.
42.2AccountingtreatmentoffinancialleasesTheCompanyaslesseeunderfinanceleases:atthecommencementoftheleaseterm,theCompanyrecordstheleasedassetatanamountequaltothelowerofthefairvalueoftheleasedassetandthepresentvalueoftheminimumleasepaymentsattheinceptionofthelease,andrecognizesalong-termpayableatanamountequalto
theminimumleasepayments.Thedifferencebetweentherecordedamountsisaccountedforasunrecognizedfinancecharge.Unrecognizedfinancechargesarerecognizedasfinancechargefortheperiodusingtheeffectiveinterestmethodovertheleaseterm.TheCompanyaslessorunderfinanceleases:atthecommencementoftheleaseterm,theaggregateoftheminimumleasereceivableattheinceptionoftheleaseandtheinitialdirectcostsisrecognizedasafinanceleasereceivable,andtheunguaranteedresidualvalueisrecordedatthesametime.Thedifferencebetweentheaggregateoftheminimumleasereceivable,theinitialdirectcostsandtheunguaranteedresidualvalue,andtheaggregateoftheirpresentvaluesisrecognizedasunearnedfinanceincome.Unearnedfinanceincomeisrecognizedasfinanceincomefortheperiodusingtheeffectiveinterestmethodovertheleaseterm.
43.OthersignificantaccountingpoliciesandaccountingestimatesNone
44.ChangesinImportantAccountingPoliciesandAccountingEstimates
(1)ChangesinImportantAccountingPolicies
√Applicable□Notapplicable
| Contentandreasonsofchangesinaccountingpolicies | Approvalprocedures | Remarks |
| OnDecember7,2018,theMinistryofFinancerevised,printedandissuedtheAccountingStandardsforBusinessEnterprisesNo.21–Lease”(FinanceandAccounting[2018]No.35).Companiesthatarelistedbothathomeandabroad,andcompaniesthatarelistedoverseasandadoptInternationalFinancialReportingStandardsorAccountingStandardsforBusinessEnterprisestopreparefinancialstatementsarerequiredtoimplementitfromJanuary1,2019.OthercompaniesthatimplementtheAccountingStandardsforBusinessEnterprisesshallimplementitfromJanuary1,2021. | Approvedbythe18thMeetingofthe5thBoardofDirectorsandthe15thMeetingofthe5thBoardofSupervisors. | Basedontherevisionofaccountingstandardsmentionedaboveandtherequirementsoftheperformingperiod,theCompanymadeadjustmentstothecorrespondingcontentofaccountingpolicyandstartedtoimplementitsinceJan.1,2021. |
(2)Changesinimportantaccountingestimates
□Applicable√Notapplicable
(3)Therelateditemsoffinancialstatementsatthebeginningoftheyearthatneedtobeadjustedaftertheimplementationofthenewleasestandardin2021ApplicableWhethertoadjustthebalancesheetaccountatthebeginningoftheyear
√Yes□No
Consolidatedbalancesheet
Unit：RMB
| Item | Dec.31st,2020 | Jan.1st,2021 | Adjustment |
| CurrentAssets: | |||
| Monetaryfunds | 5,950,395,089.12 | 5,950,395,089.12 | |
| Settlementreserve | |||
| Duefrombanksandotherfinancialinstitutions | |||
| Transactionalfinancialassets | 983,205,858.25 | 983,205,858.25 | |
| Derivativefinancialassets | |||
| NotesReceivable | |||
| AccountsReceivable | 21,493,637.66 | 21,493,637.66 | |
| Financingreceivables | |||
| Prepayments | 2,204,120.00 | 2,204,120.00 | |
| Premiumreceivables | |||
| Reinsuranceaccountsreceivable | |||
| Reinsurancecontractreservereceivables | |||
| Otherreceivables | 304,318,966.20 | 304,318,966.20 | |
| Inc:Interestreceivables | |||
| Dividendsreceivables | |||
| Financialassetspurchasedunderresaleagreements | |||
| Inventories | |||
| Contractassets | |||
| Assetsheldforsale | |||
| Non-currentassetsduewithinoneyear | 1,985,873,462.75 | 1,985,873,462.75 | |
| Othercurrentassets | 175,179,650.61 | 44,858,022.80 | -130,321,627.81 |
| Totalcurrentassets | 9,422,670,784.59 | 9,292,349,156.78 | -130,321,627.81 |
| Non-currentassets: | |||
| LoansandAdvances | |||
| Debtinvestments | |||
| Otherdebtinvestments | |||
| Long-termreceivables | |||
| Long-termequityinvestment | |||
| Otherequityinstruments | 152,800,000.00 | 152,800,000.00 | |
| Othernon-currentfinancialassets | 208,450,315.01 | 208,450,315.01 |
| Investmentproperties | 668,014,515.82 | 668,014,515.82 | |
| Fixedassets | 1,612,792,592.67 | 1,612,792,592.67 | |
| Constructioninprogress | 214,248,125.04 | 214,248,125.04 | |
| Productivebiologicalassets | |||
| Oilandgasassets | |||
| Right-of-useassets | 1,491,006,998.14 | 1,491,006,998.14 | |
| Intangibleassets | 426,352,455.75 | 426,352,455.75 | |
| Developmentexpenditure | |||
| Goodwill | 99,867,720.38 | 99,867,720.38 | |
| Long-termprepaidexpense | 440,955,377.93 | 412,508,666.20 | -28,446,711.73 |
| Deferredtaxassets | 21,606,436.77 | 21,606,436.77 | |
| Othernon-currentassets | 1,151,091,703.31 | 1,151,091,703.31 | |
| Totalnon-currentassets | 4,996,179,242.68 | 6,458,739,529.09 | 1,462,560,286.41 |
| Totalassets | 14,418,850,027.27 | 15,751,088,685.87 | 1,332,238,658.60 |
| Currentliabilities: | |||
| Short-termborrowings | 3,976,019,329.22 | 3,976,019,329.22 | |
| Borrowingfromthecentralbank | |||
| Borrowingsfrombanksandotherfinancialinstitutions | |||
| Transactionalfinancialliabilities | |||
| Derivativefinancialliabilities | |||
| Notespayable | |||
| Accountspayable | 211,824,402.86 | 211,824,402.86 | |
| Receiptsinadvance | |||
| Contractliabilities | 4,925,428,309.33 | 4,925,428,309.33 | |
| Financialassetssoldforrepurchase | |||
| Receiptofdepositsanddepositsfromotherbanks | |||
| Customerdepositsfortradinginsecurities | |||
| Amountsduetoissuerforsecuritiesunderwriting | |||
| Employeebenefitspayable | 637,448,433.99 | 637,448,433.99 | |
| Taxespayable | 131,111,770.78 | 131,111,770.78 | |
| Otherpayable | 9,479,383.03 | 9,479,383.03 | |
| Inc：Interestpayables | |||
| Dividendspayable | |||
| Feesandcommissionpayable |
| Accountspayablereinsurance | |||
| Held-for-saleliabilities | |||
| Non-currentliabilitiesduewithinoneYear | 699,372,590.26 | 699,372,590.26 | |
| Othercurrentliabilities | 147,765,156.66 | 147,765,156.66 | |
| Totalcurrentliabilities | 10,039,076,785.87 | 10,738,449,376.13 | 699,372,590.26 |
| Non-currentLiabilities: | |||
| Depositsforinsurancecontracts | |||
| Long-termloans | |||
| Bondspayable | |||
| Inc:Bondspayablepreferredstock | |||
| Bondspayableperpetualbond | |||
| Leaseliabilities | 632,866,068.34 | 632,866,068.34 | |
| Long-termpayable | |||
| Long-termpayrollpayable | |||
| Provisions | |||
| DeferredIncome | |||
| Deferredtaxliabilities | 104,677,444.59 | 104,677,444.59 | |
| Othernon-currentliabilities | |||
| Totalnon-currentliabilities | 104,677,444.59 | 737,543,512.93 | 632,866,068.34 |
| Totalliabilities | 10,143,754,230.46 | 11,475,992,889.06 | 1,332,238,658.60 |
| Owners'equity: | |||
| Sharecapital | 103,807,623.00 | 103,807,623.00 | |
| Otherequityinstrument | |||
| Inc:Otherequityinstrumentspreferredstock | |||
| Otherequityinstruments_perpetualbond | |||
| Capitalreserve | 1,225,481,049.50 | 1,225,481,049.50 | |
| Less:Treasurystock | |||
| Othercomprehensiveincome | 30,000,000.00 | 30,000,000.00 | |
| Specialreserve | |||
| Surplusreserve | 45,000,000.00 | 45,000,000.00 | |
| Generalriskreserve | |||
| Undistributedearnings | 2,870,839,120.70 | 2,870,839,120.70 | |
| Totalowners'equityattributabletotheparentcompany | 4,275,127,793.20 | 4,275,127,793.20 | |
| Minorityshareholders'equity | -31,996.39 | -31,996.39 |
| Totalowners'equity | 4,275,095,796.81 | 4,275,095,796.81 | |
| Totalliabilitiesandowners'equity | 14,418,850,027.27 | 15,751,088,685.87 | 1,332,238,658.60 |
StatementsonadjustmentsAccordingtotheNoticeonRevisionandIssuanceofAccountingStandardsforBusinessEnterprisesNo.21–Lease(FinanceandAccounting[2018]No.35)issuedbytheMinistryofFinanceinDecember2018,theCompany,fromJanuary1,2021,disclosesaccountingstatementsinaccordancewiththenewleasestandards.Parentcompanybalancesheet
Unit:RMB
| Item | Dec.31st,2020 | Jan.1st,2021 | Adjustment |
| CurrentAssets: | |||
| Monetaryfunds | 56,138,356.37 | 56,138,356.37 | |
| Transactionalfinancialassets | 1,630,453.37 | 1,630,453.37 | |
| Derivativefinancialassets | |||
| Notereceivables | |||
| AccountsReceivable | 14,792,320.38 | 14,792,320.38 | |
| Financingreceivables | |||
| Prepayments | |||
| Otherreceivables | 621,900,443.29 | 621,900,443.29 | |
| Inc:Interestreceivables | |||
| Dividendsreceivables | |||
| Inventories | |||
| Contractassets | |||
| Assetsheldforsale | |||
| Non-currentassetsduewithinoneyear | |||
| Othercurrentassets | |||
| Totalcurrentassets | 694,461,573.41 | 694,461,573.41 | |
| Non-currentassets: | |||
| Debtinvestment | |||
| Otherdebtinvestments | |||
| Long-termreceivables | |||
| Long-termequityinvestment | 18,582,307,907.14 | 18,582,307,907.14 | |
| Otherequityinstruments | 152,800,000.00 | 152,800,000.00 | |
| Othernon-currentfinancialassets | |||
| Investmentproperties | 384,641,527.88 | 384,641,527.88 |
| Fixedassets | 383,060,000.00 | 383,060,000.00 |
| Constructioninprogress | 72,569,103.57 | 72,569,103.57 |
| Productiverbiologicalassets | ||
| Oilandgasassets | ||
| Right-of-useassets | ||
| Intangibleassets | ||
| Developmentexpenditure | ||
| Goodwill | ||
| Long-termprepaidexpenses | ||
| Deferredtaxassets | 20,529,151.44 | 20,529,151.44 |
| Othernon-currentassets | 501,095,111.10 | 501,095,111.10 |
| Totalnon-currentassets | 20,097,002,801.13 | 20,097,002,801.13 |
| Totalassets | 20,791,464,374.54 | 20,791,464,374.54 |
| Currentliabilities: | ||
| Short-termloans | 871,083,875.00 | 871,083,875.00 |
| Transactionalfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notepayable | ||
| Accountspayable | 83,621,752.26 | 83,621,752.26 |
| Receiptsinadvance | ||
| Contractliabilities | ||
| Employeebenefitspayable | ||
| Taxespayable | 1,437,291.71 | 1,437,291.71 |
| Otherpayables | 446,606,530.72 | 446,606,530.72 |
| Inc:Interestpayable | ||
| Dividendspayable | ||
| Held-for-saleliabilities | ||
| Non-currentliabilitiesduewithinoneyear | ||
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 1,402,749,449.69 | 1,402,749,449.69 |
| Non-currentliabilities: | ||
| Long-termloans | ||
| Bondspayable | ||
| Inc:Bondspayablepreferredstock |
| Bondspayableperpetualbond | ||
| Leaseliabilities | ||
| Long-termpayable | ||
| Long-termpayrollpayable | ||
| Provisions | ||
| Deferredincome | ||
| Deferredtaxliabilities | 10,007,613.34 | 10,007,613.34 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 10,007,613.34 | 10,007,613.34 |
| Totalliabilities | 1,412,757,063.03 | 1,412,757,063.03 |
| Owners'equity: | ||
| Sharecapital | 6,167,399,389.00 | 6,167,399,389.00 |
| Otherequityinstrument | ||
| Inc:Otherequityinstrumentspreferredstock | ||
| Otherequityinstrumentsperpetualbond | ||
| Capitalreserve | 12,775,326,370.33 | 12,775,326,370.33 |
| Less:treasurystock | ||
| Othercomprehensiveincome | 30,000,000.00 | 30,000,000.00 |
| Specialreserve | ||
| Surplusreserve | 387,458,806.65 | 387,458,806.65 |
| Undistributedearnings | 18,522,745.53 | 18,522,745.53 |
| Totalowners'equity | 19,378,707,311.51 | 19,378,707,311.51 |
| Totalliabilitiesandowners'equity | 20,791,464,374.54 | 20,791,464,374.54 |
DescriptionofadjustmentNone
(4)Descriptionofcomparativedataintheearlystageofretroactiveadjustmentofthenewleasestandardinitiallyimplementedsince2021
□Applicable√NotApplicable
45.OthersNoneSectionVI.Taxes
1.Majorcategoriesoftaxesandtaxrates
| Categoryoftax | Basisoftax | Taxrate |
| Value-addedtax | Taxablerevenueforsalesofgoodsandsupplyofservices | 3%、5%、6% |
| Citymaintenanceandconstructiontax | Turnovertaxespayable | 5%、7% |
| Corporateincometax | Taxableincome | 15%、20%、25% |
| Educationsupplementarytax | Turnovertaxespayable | 3% |
| Localeducationsupplementarytax | Turnovertaxespayable | 2% |
Disclosurestatementontaxpayerswithdifferentcorporateincometaxrates
| Namesoftaxpayers | Incometaxrates |
| 1.TheCompany | 25% |
| 2.OffcnLtd. | 15% |
| 3.WuhuYaweiAutomobileSalesServiceCo.,Ltd | 25% |
| 4.NingguoYaxiaMotorVehicleDriverTrainingSchool(Co.,Ltd.) | 25% |
| 5.HuangshanYaxiaFudiAutomobileSalesServicesCo.,Ltd. | 20% |
| 6.ChaohuYaxiaKaixuanAutomobileSalesServiceCo.,Ltd. | 25% |
| 7.BozhouYaxiaMotorVehicleDriverTrainingSchoolCo.,Ltd. | 25% |
| 8.SuzhouBokaiAutomobileSalesServiceCo.,Ltd. | 25% |
| 9.BeijingOffcnFutureEducationTechnologyCo.Ltd | 20% |
| 10.BeijingOffcnFutureResearchEducationTechnologyCo.,Ltd. | 25% |
| 11.ShaanxiOffcnEducationTechnologyCo.Ltd. | 25% |
| 12.ChengduOffcnFutureEducationTrainingSchoolCo.Ltd. | 25% |
| 13.ZhejiangOffcnEducationTechnologyCo.Ltd.. | 25% |
| 14.TaizhouOffcnFutureEnterpriseManagementConsultingCo.,Ltd. | 20% |
| 15.BeijingOffcnXinzhiyuOnlineTechnologyCo.,Ltd. | 20% |
| 16.HulunbeierHailarOffcnEducationInformationConsultingCo.,Ltd.. | 20% |
| 17.XilinhotOffcnFutureEducationConsultingCo.,Ltd | 25% |
| 18.YueqingLechengOffcnTrainingCenterCo.,Ltd.. | 20% |
| 19.JiaozuoOffcnFutureEducationServiceCo.,Ltd | 20% |
| 20.XinzhengOffcnCulturalCommunicationCo.,Ltd.. | 20% |
| 21.ChongqingJiangbeiOffcnVocationalExaminationTrainingCo.,Ltd. | 20% |
| 22.NanjingOffcnFutureEducationConsultingCo.,Ltd. | 25% |
| 23.BaiyinOffcnFutureEducationConsultingCo.,Ltd. | 20% |
| 24.BeijingXindeZhiyuanEnterpriseManagementConsultingCo.,Ltd.. | 20% |
| 25.NanjingHuiyueHotelManagementCo.,Ltd. | 25% |
| 26.ShandongKunzhongRealEstateCo.,Ltd. | 25% |
| 27.SanmenxiaOffcnCulturalCommunicationCo.,Ltd. | 20% |
| 28.LiaoningOffcnAcademic&CulturalExchangeCo.,Ltd. | 25% |
| 29.LiaoningOffcnEducationTechnologyCo.,Ltd. | 25% |
| 30.ShandongOffcnEducationTechnologyCo.,Ltd. | 25% |
| 31.JilinChangyiOffcnEducationTrainingSchoolCo.,Ltd. | 25% |
| 32.YuxiOffcnTrainingSchoolCo.,Ltd. | 20% |
| 33.TonghuaOffcnTrainingSchoolCo.,Ltd. | 25% |
| 34.HunanLightsaltOffcnEducationTechnologyCo.,Ltd.. | 25% |
| 35.TianjinHexiOffcnTrainingSchoolCo.,Ltd. | 20% |
| 36.ChengduOffcnEducationTrainingSchoolCo.,Ltd. | 20% |
| 37.ShandongZhuodaBusinessManagementCo.,Ltd. | 20% |
| 38.LiaoningZhongchengRealEstateDevelopmentCo.,Ltd. | 25% |
| 39.WuhuOffcnTrainingSchoolCo.Ltd. | 25% |
| 40.WuhanGuoshangHumanResourceServiceCo.,Ltd. | 25% |
| 41.JinanZhangqiuOffcnTrainingSchoolCo.Ltd. | 20% |
| 42.MengziOffcnEducationTrainingCo.Ltd.. | 25% |
| 43.BeijingOffcnTechnologyDevelopmentCo.Ltd.. | 25% |
| 44.ShanghaiOffcnEducationTechnologyCo.Ltd. | 25% |
| 45.GuangzhouOffcnSmartEducationTechnologyCo.Ltd. | 25% |
| 46.PingshanOffcnEducationTechnologyCo.Ltd. | 25% |
| 47.ShandongOffcnEducationTrainingSchoolCo.Ltd. | 25% |
| 48.LanzhouOffcnEducationTrainingSchoolCo.Ltd. | 25% |
| 49.DiqingOffcnTrainingSchoolCo.Ltd. | 25% |
| 50.AnshanTiedongOffcnEducationTrainingSchoolCo.,Ltd. | 25% |
| 51.WenlingOffcnInformationConsultancyCo.Ltd | 25% |
2.Preferentialtaxation
2.1.Value-addedtax
(1)AccordingtotheNoticeonImplementingtheInclusiveTaxReductionPolicyforSmallandMicroEnterprises(CS[2019]No.13),inordertofurthersupportthedevelopmentofsmallandmicroenterprises,fromJanuary1,2019toDecember31,2021,small-scalevalue-addedtaxpayerswithmonthlysaleslessthanRMB100,000(included)areexemptfromvalue-addedtax.
AccordingtotheAnnouncementonclarifyingtheVATexemptionpolicyforsmall-scaletaxpayers(CS[2021]No.11),fromApril1,2021toDecember31,2022,small-scaletaxpayerswithmonthlysalesoflessthanRMB150,000(included)willbeexemptfromVAT.
TheCompany'sbranchesandsubsidiariesthatmeettheexemptionconditionsareexemptfromVAT.
(2)AccordingtotheNoticeoftheMinistryofFinanceandtheStateAdministrationofTaxationontheRelevantPoliciesonDeductionofValueAddedTaxforSpecialEquipmentandTechnicalMaintenanceCostsofValueAddedTaxControlSystem(CS[2012]No.15),iftheVATtaxpayerspurchasespecialequipmentfortheVATtaxcontrolsystem(includingseparateticketmachines)forthefirsttimeafterDecember1,2011(including,thesamebelow),thepurchaseexpensescanbefullydeductedfromtheVATpayable(thedeductionisthetotalamountofpriceandtax)bytheVATinvoiceobtainedfromthepurchaseofspecialequipmentfortheVATtaxcontrolsystem,andthedeductionthatisinsufficientcanbecarriedforwardtothenextperiod.TheVATtaxpayer'stechnicalmaintenancefeepaidafterDecember1,2011(excludingthetechnicalmaintenancefeepaidbeforeNovember30,2011)canbedeductedfromthetaxpayableatfullamountbythetechnicalmaintenanceinvoiceissuedbythetechnicalmaintenanceserviceunit,andthosethatareinsufficienttobedeductedcanbecarriedforwardtothenextperiod.TheCompanyandthequalifiedbranchesandsubsidiariesdeducttheVATpayableatfullamountaccordingtotheregulations.
(3)InaccordancewiththeAnnouncementonFavorableTaxPoliciesforthePreventionandControlofCovid-19(AnnouncementNo.8of2020bytheMinistryofFinanceandtheStateAdministrationofTaxation),thetaxpayers’incomefromofferingpublictransportationservices,dailylifeservices,anddeliveringservicesforresidentswithlivingnecessitiesisexemptfromvalue-addedtax.Thespecificscopeofpublictransportationservicescomplieswiththatstipulatedinthe“RegulationsonIssuesRelatedtothePilotProgramofChangingSalesTaxtoValue-AddedTax”(PublishedandissuedbyF&T[2016]No.36).Thespecificscopeoflifeservicesandexpressdeliveryservicescomplieswiththatstipulatedinthe"SalesServices,IntangibleAssets,andRealEstateNotes"(issuedbyF&T[2016]No.36).TheCompany’squalifiedbranchesandsubsidiariesthatmeettheexemptionconditionsareexemptfromthevalue-addedtax.
(4)AccordingtotheAnnouncementonDeepeningtheReformofRelevantPoliciesAboutValue-AddedTax”(AnnouncementNo.39,2019oftheMinistryofFinance,StateAdministrationofTaxation,GeneralAdministrationofCustoms),fromApril1,2019toDecember31,2021,Taxpayersinvolvedintheproductionandlivingserviceindustryareallowedtodeductdeductibleinputtaxplus10%fromthetaxpayable.TheCompany’squalifiedbranchesandsubsidiarieswilladditionallydeductthevalue-addedtaxpayableaccordingtothispreferentialpolicy.
(5)AccordingtoAnnouncementFromtheMinistryofFinanceandtheStateAdministrationofTaxationonContinuingtheImplementationofSomePreferentialTaxPoliciesinResponsetothePandemic(CS[2021]No.7),inordertofurthersupportthepreventionandcontrolofthepandemic,thepreferentialtaxpolicystipulatedintheAnnouncementFromtheMinistryofFinanceandStateAdministrationofTaxationonVATPolicytoSupportIndividualIndustrialandCommercialEntitiestoResumeBusiness(CS[2020]No.13)willextendtoDecember31,2021.AndfromApril1,2021toDecember31,2021,forthesmall-scaleVATtaxpayersinHubeiProvincewhoareeligibletoarateof3%onthetaxablesalesincome,theVATshallbeleviedatareducedrateof1%;fortheitemsthatareeligibletoa3%rateofpre-paidVAT,thepre-paidVATshallbereducedatthepre-collectionrateof1%.BranchesandsubsidiariesoftheCompanythatmeettheexemptionconditionsareexemptfromVATorareleviedatareducedrateof1%.
2.2.EducationsurchargeandlocaleducationsurchargeAccordingtotheNoticeoftheMinistryofFinanceandtheStateAdministrationofTaxationonExpandingtheExemptionScopeofRelevantGovernmentalFunds(CS[2016]No.12),sinceFebruary1,2016,theexemptionscopesofeducationsurcharges,localeducationsurchargesandwaterconservancyconstructionfundareexpandedfromthecurrentmonthlytaxpayerswhosemonthlysalesorturnoverdoesnotexceedRMB30,000(quarterlysalesorturnoverdoesnotexceedRMB90,000forquarterlytaxes)tomonthlytaxpayerswhosemonthlysalesorturnoverdoesnotexceedRMB100,000(quarterlysalesorturnoverdoesnotexceedRMB300,000forquarterlytaxes).BranchesandsubsidiariesoftheCompanythatmeettheexemptionconditionsareexemptfromeducationsurchargesandlocaleducationsurcharges.
2.3.Corporateincometax
(1)OnAugust10,2017,OffcnCo.Ltd.gotauthenticatedasahigh-techenterprisebyBeijingMunicipalStateAdministrationofTaxation,BeijingMunicipalTaxService,BeijingMunicipalFinanceBureauandBeijingMunicipalScienceandTechnologyCommission,obtainingthehigh-techenterprisecertificatenumberedGR20171101302.ThevalidityperiodofthecertificateisfromAugust10,2017toAugust9,2020.OnOctober21,2020,OffcnCo.Ltd.gotauthenticatedasahigh-techenterprisebyBeijingMunicipalStateAdministrationofTaxation,BeijingMunicipalTaxService,BeijingMunicipalFinanceBureauandBeijingMunicipalScienceandTechnologyCommission,obtainingthehigh-techenterprisecertificatenumberedGR202011002730.ThevalidityperiodofthecertificateisfromOctober21,2020toOctober20,2023.OffcnCo.Ltd.anditssubsidiariesshallpaycorporateincometaxatarateof15%.
(2)AccordingtotheNoticeonImplementingtheInclusiveTaxReductionPolicyforSmallandMicroEnterprises(CS[2019]No.13),fromJanuary1,2019toDecember31,2021,forsmallandlow-profitenterprises,thetaxableportionoftheirannualtaxableincomenotmorethanRMB1millionshallbemeasuredatareducedrateof25%,andthecorporateincometaxshallbepaidatarateof20%.ThetaxableportionoftheannualtaxableincomemorethanRMB1millionbutnotmorethanRMB3millionshallbemeasuredatareducedrateof50%,andthecorporateincometaxshallbepaidatarateof20%.
AccordingtotheNoticeontheImplementationofPreferentialIncomeTaxPoliciesforSmallandMicroEnterprisesandIndividualBusinesses(NoticeNo.12oftheStateAdministrationofTaxationandtheMinistryofFinance,2021),forsmallandlow-profitenterprises,inadditionaltothepreferentialpoliciesstipulatedinArticle2oftheNoticeonImplementingtheInclusiveTaxReliefPoliciesforSmallandMicroEnterprisesfromMinistryofFinanceandtheStateAdministrationofTaxation(CS[2019]No.13)thecorporateincometaxontheportionoftheannualtaxableincomenotmorethanRMB1million,shallbefurtherreducedbyhalf.TheperiodisfromJanuary1,2021toDecember31,2022.
SubsidiariesoftheCompanythatmeettheconditionsshallapplytotheabovepoliciesincalculatingandpayingcorporateincometax.
(3)AccordingtotheNoticeonClarifyingtheScopeofSmallandLow-profitEnterprisesthatEnjoythePreferentialPoliciestoExemptfromLocalSharePortionofCorporateIncomeTaxfromtheNoticeofPartyCommitteeandthePeople'sGovernmentofInnerMongoliaAutonomousRegion(NCS[2019]No.227),forsmallandlow-profitenterpriseswiththeannualtaxableincomenotmorethanRMB1million,inaccordancewiththe
NoticeonImplementingtheInclusiveTaxReductionPolicyforSmallandMicroEnterprises(CS[2019]No.13),theannualtaxableincomeshallbemeasuredatareducedrateof25%.Aftercalculatingthecorporateincometaxatarateof20%,accordingtotheNoticeissuedbythePartyCommitteeandthePeople'sGovernmentofInnerMongoliaAutonomousRegion(NDF[2018]No.23),thelocalshareportionofcorporateincometax(40%)shallbeexempted.SubsidiariesoftheCompanythatmeettheconditionsshallapplytothepoliciesincalculatingandpayingcorporateincometax.
3.OthersNoneVII.NotesToConsolidatedFinancialStatements
1.Monetaryfunds
Unit：RMB
| Item | Closingbalance | Openingbalance |
| Cashonhand | 90,792.90 | 67,906.76 |
| Cashonbank | 3,366,518,184.89 | 5,882,201,630.73 |
| Othermonetaryfunds | 193,959,707.39 | 68,125,551.63 |
| Total | 3,560,568,685.18 | 5,950,395,089.12 |
otherinformation
(1)Othermonetaryfundsmainlyincludethebalancesofthird-partypaymentplatformssuchasPOS,Alipay,andTenpay.
(2)Attheendoftheperiod,therearenomortgage,pledge,freezingandotherrestrictionsontheuseoffunds.DetailsonNoteVIIofthisreport,81,“Assetswithrestrictedownershiporrightsofuse”.
(3)Therewerenocashdepositedabroadattheendoftheperiod.
2.Transactionalfinancialassets
Unit：RMB
| Item | Closingbalance | Openingbalance |
| Financialassetsmeasuredatfairvaluewithchangesincludedincurrentprofitandloss | 178,565,832.93 | 983,205,858.25 |
| Inc： | ||
| Debtinstrumentinvestment | 178,565,832.93 | 983,205,858.25 |
| Inc： | ||
| Total | 178,565,832.93 | 983,205,858.25 |
3.Derivativefinancialassets
Unit：RMB
| Item | Closingbalance | Openingbalance |
4.Notesreceivable
(1)Classificationofnotesreceivable
Unit：
RMB
| Item | Closingbalance | Openingbalance |
Unit：
RMB
| Category | Closingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalancet | Baddebtrprovision | Bookvalue | |||||
| Amount | Proportion | Amount | Proportionofprovision | Amount | Proportion | Amount | Proportionofprovision | |||
| Inc: | ||||||||||
| Inc: | ||||||||||
Provisionforbaddebtsbyperitem:
Unit：RMB
| Name | Closingbalance | |||
| Bookbalance | Baddebtprovision | Proportionofprovision | Reasonforprovision | |
| Total | — | — |
Provisionforbaddebtsbyportfolio:
Unit：
RMB
| Name | Closingbalance | ||
| Bookbalance | Baddebtreserves | Accrualratio | |
Ifthebaddebtprovisionofnotesreceivableiscalculatedaccordingtothegeneralmodelofexpectedcreditloss,pleasedisclosetherelevantinformationofbaddebtprovisionwithreferencetothedisclosuremethodofotherreceivables:
□Applicable√NotApplicable
(2)Provision,recoveryandreversalforbaddebtsincurrentperiodProvisionforbaddebtsincurrentperiod
Unit：RMB
| Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance |
Importantprovision,withdrawalorreversalforbaddebtsincurrentperiod:
□Applicable√NotApplicable
(3)NotesreceivablepledgedbytheCompanyattheendoftheperiod
Unit：RMB
| Item | Pledgedamountattheendoftheperiod |
(4)Notesreceivablethathavebeenendorsedordiscountedbythecompanyattheendoftheperiodandhavenotyetmaturedatthebalancesheetdate
Unit：RMB
| Item | Amountofconfirmationattheendoftheperiod | Amountnotconfirmationattheendoftheperiod |
(5)NotestransferredtoaccountsreceivablebytheCompanyduetothedrawer'sfailuretoperformthecontractattheendoftheperiod,
Unit：
RMB
| Item | Amounttransferredtoaccountsreceivableattheendoftheperiod |
(6)Notesreceivableactuallywrittenoffincurrentperiod
Unit：RMB
| Item | Amountofwritingoff |
Writingoffimportantnotesreceivable:
Unit：
RMB
| NameoftheCompany | Natureofnotesreceivable | Amountofwritingoff | Reasonsforwritingoff | Procedureofwritingoff | Whetherthefundsaregeneratedbyrelatedpartytransactions |
5.Accountsreceivable
(1)Classifieddisclosureofaccountsreceivable
Unit：
RMB
| Category | Closingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
| Amount | Proportion | Amount | Proportionofprovision | Amount | Proportion | Amount | Proportionofprovision | |||
| Inc： | ||||||||||
| Accountsreceivablewithprovisionforbaddebtsincombination | 34,648,578.71 | 100.00% | 2,225,038.91 | 5.00% | 32,423,539.80 | 22,625,024.65 | 100.00% | 1,131,386.99 | 5.00% | 21,493,637.66 |
| Inc： | ||||||||||
| Combination1 | 1,522,000.00 | 4.39% | 76,100.00 | 5.00% | 1,445,900.00 | |||||
| Combination2 | 3,264,680.96 | 9.42% | 163,095.65 | 5.00% | 3,101,585.31 | 2,618,094.65 | 11.57% | 131,040.49 | 5.01% | 2,487,054.16 |
| Combination3 | 29,861,897.75 | 86.19% | 1,985,843.26 | 5.00% | 27,876,054.49 | 20,006,930.00 | 88.43% | 1,000,346.50 | 5.00% | 19,006,583.50 |
| Total | 34,648,578.71 | 100.00% | 2,225,038.91 | 32,423,539.80 | 22,625,024.65 | 100.00% | 1,131,386.99 | 21,493,637.66 | ||
Provisionforbaddebtsaccordingtoindividualitems:
Unit：RMB
| Name | Closingbalance | |||
| Bookbalance | Baddebtprovision | Proportionofprovision | Reasonsforprovision | |
Provisionforbaddebtsaccordingtocombination:2,225,038.91
Unit：RMB
| Name | Closingbalance | ||
| Bookbalance | Baddebtprovision | Proportionofprovision | |
| Combination1 | 1,522,000.00 | 76,100.00 | 5.00% |
| Combination2 | 3,264,680.96 | 163,095.65 | 5.00% |
| Combination3 | 29,861,897.75 | 1,985,843.26 | 5.00% |
| Total | 34,648,578.71 | 2,225,038.91 | — |
Descriptionofthebasisfordeterminingthecombination:
NoneProvisionforbaddebtsaccordingtocombination:
Unit：
RMB
| Name | Closingbalance | ||
| Bookbalance | Baddebtprovision | Proportionofprovision | |
Descriptionofthebasisfordeterminingthecombination:
Iftheprovisionforbaddebtsofaccountsreceivableiscalculatedaccordingtothegeneralmodelofexpectedcreditloss,pleaserefertothedisclosuremethodofotherreceivablestodisclosetherelevantinformationofbaddebtprovision:
□Applicable√NotApplicableDisclosurebyaccountage
Unit：RMB
| Ages | Bookbalance |
| Within1year(included) | 24,796,379.06 |
| Within1year(included) | 24,796,379.06 |
| 1to2years | 9,852,199.65 |
| Total | 34,648,578.71 |
(2)Provision,recoveryandreversalforbaddebtsincurrentperiodProvisionforbaddebtsinthecurrentperiod:
Unit：RMB
| Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance |
| Provision | recoveryorreversal | Writeoff | Others | |||
| Provisionforbaddebtsofaccountsreceivable | 1,131,386.99 | 1,093,651.92 | 2,225,038.91 | |||
| Total | 1,131,386.99 | 1,093,651.92 | 2,225,038.91 |
Importantprovision,recoveryandreversalforbaddebtsincurrentperiod:
Unit：
RMB
| Companyname | Amountrecoveredorreversed | Recoverymethod |
(3)Accountsreceivableactuallywrittenoffinthecurrentperiod
Unit：RMB
| Item | Writeoffamount |
Importantwrite-offaccountsreceivable:
Unit：
RMB
| Companyname | Natureofaccountsreceivable | Amountofwritingoff | Reasonsforwritingoff | Proceduresofwritingoff | Whetherthefundsaregeneratedbyrelatedpartytransactions |
Descriptionofthewrite-offofaccountsreceivable:
(4)Accountsreceivableoftopfiveclosingbalancecollectedbydebtors
Unit：RMB
| Companyname | Closingbalanceofaccountsreceivable | Proportioninthetotalclosingbalanceofaccountsreceivable | Closingbalanceofbaddebtreserves |
| YaxiaIndustrialCo.Ltd. | 29,854,967.75 | 86.17% | 1,985,496.76 |
| Customer1 | 1,522,000.00 | 4.39% | 76,100.00 |
| Customer2 | 1,134,113.50 | 3.27% | 56,705.68 |
| Customer3 | 197,644.50 | 0.57% | 9,882.23 |
| Customer4 | 186,794.00 | 0.54% | 9,339.70 |
| Total | 32,895,519.75 | 94.94% |
(5)AccountsreceivableterminatedduetotransferoffinancialassetsNone
(6)AmountofassetsandliabilitiesformedbytransferringaccountsreceivableandcontinuinginvolvementNone
6.Receivablesfinancing
Unit：RMB
| Item | Closingbalance | Openingbalance |
Changesinreceivablefinancingandfairvaluesincurrentperiod
□Applicable√NotapplicableIftheprovisionforimpairmentofreceivablesfinancingiswithdrawnaccordingtothegeneralmodelofexpectedcreditloss,pleaserefertothedisclosuremethodofotherreceivablestodisclosetherelevantinformationofimpairmentprovision:
□Applicable√Notapplicable
7.Prepayments
(1)Disclosurebyaccountage
Unit：RMB
| Accountage | Closingbalance | Openingbalance | ||
| Amount | Proportion | Amount | Proportion | |
| Within1year | 1,540,010.00 | 100.00% | 2,204,120.00 | 100.00% |
| Total | 1,540,010.00 | -- | 2,204,120.00 | -- |
Reasonsfornottimelysettlingtheimportantprepaymentswithanaccountageofmorethanoneyear:
None
(2)Prepaymentoftopfiveclosingbalancecollectedbyprepaymentobjects
| Nameofcompany | NatureofPayment | Closingbalance | Accountage | Proportionintotalamountofprepayment(%) | Provisionforbaddebts |
| NanjingTuniuInternationalTravelAgencyCo.,Ltd | Airticketpayment | 835,488.00 | Within1year | 54.25 | |
| NanjingEurasianAirPassengersTransportAgencyCo.,Ltd. | Airticketpayment | 704,522.00 | Within1year | 45.75 | |
| Total | 1,540,010.00 | 100.00 |
8.Otherreceivables
Unit：
RMB
| Item | Closingbalance | Openingbalance |
| Otherreceivables | 382,044,846.69 | 304,318,966.20 |
| Total | 382,044,846.69 | 304,318,966.20 |
(1)Interestreceivable
1)Classificationofinterestreceivable
Unit：RMB
| Item | Closingbalance | Openingbalance |
2)Importantoverdueinterest
Unit：RMB
| Borrower | Closingbalance | Overduetime | Overduereasons | Whetherthereis |
3）Provisionforbaddebts
□Applicable√Notapplicable
(2)Dividendsreceivable
1)Classificationofdividendsreceivable
Unit：RMB
impairmentanditsjudgmentbasisItem(orInvestee)
| Item(orInvestee) | Closingbalance | Openingbalance |
2)Importantdividendsreceivablewithanaccountageofover1year
Unit：RMB
| Item(orInvestee) | Closingbalance | Accountage | Reasonsfornonrecovery | Whetherthereisimpairmentanditsjudgmentbasis |
3）Provisionforbaddebts
□Applicable√Notapplicableotherinformation:
None
(3)Otherreceivables
1)Classificationofotherreceivablesbynatureofpayment
Unit：
RMB
| Natureofpayment | ClosingBookbalance | OpeningBookbalance |
| Depositsandguarantees | 379,678,070.53 | 302,437,947.35 |
| Reservefund | 304,970.00 | 120.00 |
| deferredexpenseandothers | 2,061,806.16 | 1,880,898.85 |
| Total | 382,044,846.69 | 304,318,966.20 |
2)Provisionforbaddebts
Unit：
RMB
| Provisionforbaddebts | Stage1 | Stage2 | Stage3 | Total |
| Expectedcreditlossinthenext12months | Expectedcreditlossinthewholeduration(nocreditimpairmenthasoccurred) | Expectedcreditlossinthewholeduration(creditimpairmenthasoccurred) | ||
| BalanceatJan.1st,2021 | 377,400.85 | 510,300.00 | 887,700.85 | |
| BalanceatJan.1st,2021incurrentperiod | — | — | — | — |
| Provisioninthecurrentperiod | 185,401.83 | 170,100.00 | 355,501.83 |
| Write-offinthecurrentperiod | 680,400.00 | 680,400.00 | ||
| BalanceatJune30th,2021 | 562,802.68 | 0.00 | 562,802.68 |
Changesinbookbalanceoflossreserveswithsignificantchangesincurrentperiod
□Applicable√NotapplicableDisclosurebyaccountage
Unit：
RMB
| Accountage | Closingbalance |
| Within1year(included) | 132,887,291.95 |
| Within1year(included) | 132,887,291.95 |
| 1to2years | 222,953,484.07 |
| 2to3years | 7,675,997.74 |
| Morethan3years | 18,528,072.93 |
| 3to4years | 2,259,965.25 |
| 4to5years | 8,957,206.80 |
| Morethan5years | 7,310,900.88 |
| Total | 382,044,846.69 |
3)Provision,recoveryandreversalforbaddebtsincurrentperiodProvisionforbaddebtsincurrentperiod:
Unit：RMB
| Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance | |||
| Provision | Recoveryorreversal | Write-off | Others | |||
| Provisionforbaddebtsofotherreceivables | 887,700.85 | 355,501.83 | 680,400.00 | 562,802.68 | ||
| Total | 887,700.85 | 355,501.83 | 680,400.00 | 562,802.68 | ||
Theimportantamountofbaddebtreservesrecoveredorreversedinthecurrentperiod:
Unit：
RMB
| Nameofcompany | Amountofrecoveredorreversed | Recoverymethod |
4)Otherreceivablesactuallywrittenoffinthecurrentperiod
Unit：
RMB
| Item | Write-offamount |
| receivablesactuallywrittenoff | 680,400.00 |
Importantwrite-offofotherreceivables:
Unit：RMB
| Nameofcompany | Natureofotherreceivables | Write-offamount | Write-offreasons | Writeoffprocedures | Whetherthefundsaregeneratedbyrelatedpartytransactions |
Descriptionofwrite-offofotherreceivables:
None
5)Otherreceivablesoftopfiveclosingbalancecollectedbydebtors
Unit：RMB
| Nameofcompany | Natureofpayment | Closingbalance | Accountage | Proportionintotalotherclosingbalancereceivables(%) | Closingbalanceofbaddebtprovision |
| LiaoningHanhuiIndustrialCo.,Ltd | Depositsandguarantees | 200,000,000.00 | 1to2years | 52.35% | |
| BeijingHuaxiaShunxinPropertyManagementCo.,Ltd. | Depositsandguarantees | 25,000,000.00 | Within1year | 6.54% | |
| BeijingWushuangTechnologyCo.,Ltd | Depositsandguarantees | 15,000,000.00 | 1to2years | 3.93% | |
| ShenyangLijingMingzhuHotelManagementCo.,Ltd | Depositsandguarantees | 5,675,200.00 | 4to5years | 1.49% | |
| HarbinYuhengPharmaceuticalCo.,Ltd. | Depositsandguarantees | 2,700,000.00 | Morethan5years | 0.71% | |
| Total | — | 248,375,200.00 | -- | 65.02% |
6)Receivablesinvolvinggovernmentsubsidies
Unit：
RMB
| Nameofcompany | Nameofgovernmentsubsidyproject | Closingbalance | Accountageattheendoftheperiod | Estimatedtime,amountandbasisofcollection |
None
7)OtherreceivablesterminatedduetotransferoffinancialassetsNone8）AmountofassetsandliabilitiesformedbytransferringotherreceivablesandcontinuinginvolvementNone
9.InventoriesWhethertheCompanyneedstocomplywiththedisclosurerequirementsoftherealestateindustryNone
10.Contractassets
Unit：
RMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
Theamountandreasonsforsignificantchangesinthebookvalueofcontractassetsinthecurrentperiod:
Unit：RMB
| Item | Changeintheamount | Reasonsforchanges |
Iftheprovisionforbaddebtofcontractassetsiswithdrawnaccordingtothegeneralmodelofexpectedcreditloss,pleaserefertothedisclosuremethodofotherreceivablestodisclosetherelevantinformationofbaddebtprovision:
□Applicable√NotapplicableProvisionforimpairmentofcontractassetsinthecurrentperiod
Unit：RMB
| Item | Provisioninthecurrentperiod | Reversalincurrentperiod | Write-offincurrentperiod | Reasons |
otherinformation:
11.Assetsheldforsale
Unit：RMB
| Item | Bookbalanceattheendoftheperiod | Provisionforimpairment | Bookvalueattheendoftheperiod | Fairvalue | Estimateddisposalcosts | Estimateddisposaltime |
12.Non-currentassetsduewithinoneyear
Unit：
RMB
| Item | Closingbalance | Openingbalance |
| Debtinvestmentduewithinoneyear | 20,027,866.69 | 1,985,873,462.75 |
| Total | 20,027,866.69 | 1,985,873,462.75 |
Importantdebtinvestment/Otherdebtinvestment
Unit：
RMB
| Credititem | Closingbalance | Openingbalance | ||||||
| Parvalue | Couponrate | Realinterestrate | Duedate | Parvalue | Nominalrate | Realinterestrate | Duedate | |
| BeijingSidaokouSub-branchofHuaxiaBankCo.,Ltd. | 500,000,000.00 | 4.12% | 4.12% | April4,2021 | ||||
| QianmenSub-branch,ChinaConstructionBankCorporation | 500,000,000.00 | 3.85% | 3.85% | April12,2021 | ||||
| BeijingShangdisub-branchofChinaMinshengBankCo.,Ltd | 300,000,000.00 | 4.30% | 4.30% | June5,2021 | ||||
| BeijingShangdisub-branchofChinaMinshengBankCo.,Ltd | 200,000,000.00 | 4.30% | 4.30% | June13,2021 | ||||
| MeihekouRuralCreditCooperative,CooperativeUnionSalesDepartment | 100,000,000.00 | 4.20% | 4.20% | June6,2021 | ||||
| MeihekouRuralCreditCooperative,CooperativeUnionSalesDepartment | 100,000,000.00 | 4.20% | 4.20% | July2,2021 | ||||
| MeihekouRuralCreditCooperative,CooperativeUnionSalesDepartment | 50,000,000.00 | 4.20% | 4.20% | April26,2021 | ||||
| MeihekouRuralCreditCooperative,CooperativeUnionSalesDepartment | 50,000,000.00 | 4.20% | 4.20% | May31,2021 | ||||
| ChinaMerchantsBankCo.,Ltd.BeijingFangzhuangsub-branch | 20,000,000.00 | 4.18% | 4.18% | Dec.18,2021 | 20,000,000.00 | 4.18% | 4.18% | Dec.18,2021 |
| Total | 20,000,000.00 | — | — | — | 1,820,000,000.00 | — | — | — |
otherinformation:
None
13.Othercurrentassets
Unit：RMB
| Item | Closingbalance | Openingbalance |
| Prepaidexpenses | 51,252,413.48 | 3,025,677.50 |
| Pendingpayment | 16,268,215.47 | 41,832,345.30 |
| Fixed-termdeposit | 896,475,291.65 | |
| Prepaidcorporateincometax | 24,724,309.86 | |
| Total | 988,720,230.46 | 44,858,022.80 |
otherinformation:
None
14.Debtinvestment
Unit：RMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
Importantdebtinvestment
Unit：RMB
| Credititem | Closingbalance | Openingbalance | ||||||
| Parvalue | Couponrate | Realinterestrate | Duedate | Parvalue | Couponrate | Realinterestrate | Duedate | |
Provisionforimpairment
Unit：RMB
| Provisionforbaddebts | Stage1 | Stage2 | Stage3 | Total |
| Expectedcreditlossinthenext12months | Expectedcreditlossinthewholeduration(nocreditimpairmenthasoccurred) | Expectedcreditlossinthewholeduration(creditimpairmenthasoccurred) | ||
| BalanceatJan.1st,2021incurrentperiod | —— | —— | —— | —— |
Changesinbookbalanceoflossreserveswithsignificantchangesincurrentperiod
□Applicable√Notapplicableotherinformation:
15.Otherdebtinvestments
Unit：RMB
| Item | Openingbalance | Accruedinterest | Changesinfairvalueinthecurrentperiod | Closingbalance | Cost | Changesinaccumulatedfairvalue | Accumulatedlossreservesrecognizedinothercomprehensiveincome | Remarks |
Otherimportantdebtinvestment
Unit：RMB
| Othercredititems | Closingbalance | Openingbalance |
Provisionforimpairment
Unit：RMB
| Provisionforbaddebts | Stage1 | Stage2 | Stage3 | Total |
| Expectedcreditlossinthenext12months | Expectedcreditlossinthewholeduration(nocreditimpairmenthasoccurred) | Expectedcreditlossinthewholeduration(creditimpairmenthasoccurred) | ||
| BalanceatJan.1st,2021incurrentperiod | —— | —— | —— | —— |
Changesinbookbalanceoflossreserveswithsignificantchangesincurrentperiod
□Applicable√Notapplicable
otherinformation:
16.long-termreceivables
(1)long-termreceivables
Unit：RMB
| Item | Closingbalance | Openingbalance | Discountraterange |
Impairmentofbaddebtreserves
Unit：
RMB
| Provisionforbaddebts | Stage1 | Stage2 | Stage3 | Total |
Changesinbookbalanceoflossreserveswithsignificantchangesincurrentperiod
□Applicable√Notapplicable
(2)Long-termreceivablesterminatedduetotransferoffinancialassets
(3)Amountofassetsandliabilitiesformedbytransferringlong-termreceivablesandcontinuinginvolvementotherinformation
17.Longtermequityinvestment
Unit：RMB
| Investee | Openingbalance(bookvalue) | Increaseanddecreaseinthecurrentperiod | Closingbalance(bookvalue) | Closingbalanceofprovisionforimpairment |
18.Investmentinotherequityinstruments
Unit：RMB
| Item | Closingbalance | Openingbalance |
| ShanghaiZuihuibaoNetworkTechnologyCo.,Ltd | 126,000,000.00 | 126,000,000.00 |
| AnhuiNingguoRuralCommercialBankCo.,Ltd | 26,800,000.00 | 26,800,000.00 |
| Total | 152,800,000.00 | 152,800,000.00 |
Disclosureofnontradableequityinstrumentinvestmentinthecurrentperiod
Unit：
RMB
| Item | Recognizeddividendincome | Accumulatedprofit | Accumulatedlosses | Amountofothercomprehensiveincometransferredtoretainedearnings | Reasonsforfairvaluemeasurementanditschangeincludedinothercomprehensiveincome | Reasonsfortransferringothercomprehensiveincomeintoretainedearnings |
| ShanghaiZuihuibaoNetworkTechnologyCo., | 40,000,000.00 | Planforlongtermholding |
| Ltd | ||||
| AnhuiNingguoRuralCommercialBankCo.,Ltd | 1,327,872.00 | Planforlongtermholding | ||
| Total | 1,327,872.00 | 40,000,000.00 |
otherinformation:
None
19.Othernon-currentfinancialassets
Unit：RMB
| Item | Closingbalance | Openingbalance |
| BeijingJinwuVentureCapitalCenter(limitedpartnership) | 38,050,000.00 | 38,050,000.00 |
| Financialproducts | 172,249,205.48 | 170,400,315.01 |
| Total | 210,299,205.48 | 208,450,315.01 |
otherinformation:
20.Investmentproperties
(1)Investmentpropertiesadoptingcostmeasurementmode
√Applicable□Notapplicable
Unit：
RMB
| Item | Premisesandbuildings | Land-userights | Constructioninprogress | Total |
| I.Originalbookvalue | ||||
| 1.Openingbalance | 377,111,222.22 | 473,825,849.87 | 850,937,072.09 | |
| 2.Increaseincurrentperiod | ||||
| (1)Outsourcing | ||||
| (2)Inventory/Fixedassets/Transferinfromconstructioninprogress | ||||
| (3)Increaseinbusinesscombination |
| 3.Decreaseincurrentperiod | 3,201,828.13 | 3,201,828.13 | ||
| （1）Disposal | 3,201,828.13 | 3,201,828.13 | ||
| （2）Othertransfers |
| 4.Closingbalance | 377,111,222.22 | 470,624,021.74 | 847,735,243.96 | |
| II.Accumulateddepreciationandamortization | ||||
| 1.Openingbalance | 50,891,399.79 | 71,833,552.56 | 122,724,952.35 | |
| 2.Increaseincurrentperiod | 4,130,544.03 | 3,436,473.32 | 7,567,017.35 | |
| (1)Provisionoramortization | 4,130,544.03 | 3,436,473.32 | 7,567,017.35 |
| 3.Decreaseincurrentperiod | 478,278.09 | 478,278.09 | ||
| (1)Disposal | 478,278.09 | 478,278.09 | ||
| (2)Othertransfers |
| 4.Closingbalance | 55,021,943.82 | 74,791,747.79 | 129,813,691.61 | |
| III.Provisionforimpairment | ||||
| 1.Openingbalance | 6,556,268.55 | 53,641,335.37 | 60,197,603.92 | |
| 2.increaseincurrentperiod | ||||
| (1)Provision |
| 3.Decreaseincurrentperiod |
| （1）Disposal |
| （2）Othertransfers |
| 4.Closingbalance | 6,556,268.55 | 53,641,335.37 | 60,197,603.92 | |
| IV.Bookvalue | ||||
| 1.Bookvalueattheendoftheperiod | 315,533,009.85 | 342,190,938.58 | 0.00 | 657,723,948.43 |
| 2.Bookvalueatthebeginningoftheperiod | 319,663,553.88 | 348,350,961.94 | 0.00 | 668,014,515.82 |
（2）Investmentpropertiesadoptingfairvaluemeasurementmode
□Applicable√Notapplicable
（3）Investmentpropertieswithoutpropertyrightcertificate
Unit：
RMB
| Item | Bookvalue | Reasonsfornotcompletingthepropertyrightscertificateapplication |
| Premisesandbuildings | 219,092,799.43 | Inprocess |
| Land-useright | 5,227,422.33 | Inprocess |
otherinformationNone
21.FixedAssets
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Fixedassets | 1,580,386,983.37 | 1,612,792,592.67 |
| Total | 1,580,386,983.37 | 1,612,792,592.67 |
(1)Fixedassets
Unit:RMB
| Item | Premisesandbuildings | Decorationoffixedassets | Transportationfacility | Electronicequipment | Officeequipment | Total |
| I.Originalbookvalue | ||||||
| 1.Openingbalance | 1,554,597,283.39 | 64,708,424.02 | 79,864,456.42 | 221,718,295.47 | 12,041,667.21 | 1,932,930,126.51 |
| 2.Increaseinthecurrentperiod | 733,750.00 | 12,774,538.52 | 39,376.40 | 13,547,664.92 | ||
| (1)Purchase | 733,750.00 | 12,774,538.52 | 39,376.40 | 13,547,664.92 | ||
| (2)Transferfromconstructioninprogress | ||||||
| (3)Increaseinbusinesscombination | ||||||
| 3.Decreaseinthecurrentperiod | 632,059.91 | 632,059.91 | ||||
| (1)Disposalorobsolescence | 632,059.91 | 632,059.91 | ||||
| 4.Closingbalance | 1,554,597,283.39 | 64,708,424.02 | 79,966,146.51 | 234,492,833.99 | 12,081,043.61 | 1,945,845,731.52 |
| II.Accumulateddepreciation | ||||||
| 1.Openingbalance | 95,350,935.18 | 23,777,361.06 | 67,037,779.49 | 123,219,503.77 | 10,672,970.00 | 320,058,549.50 |
| 2.Increaseinthecurrent | 22,460,471.80 | 4,918,193.58 | 2,488,796.85 | 15,469,925.53 | 223,637.60 | 45,561,025.36 |
| period | ||||||
| (1)Accrual | 22,460,471.80 | 4,918,193.58 | 2,488,796.85 | 15,469,925.53 | 223,637.60 | 45,561,025.36 |
| 3.Decreaseinthecurrentperiod | 239,811.05 | 239,811.05 | ||||
| (1)Disposalorobsolescence | 239,811.05 | 239,811.05 | ||||
| 4.Closingbalance | 117,811,406.98 | 28,695,554.64 | 69,286,765.29 | 138,689,429.30 | 10,896,607.60 | 365,379,763.81 |
| III.Impairmentprovision | ||||||
| 1.Openingbalance | 4,309.80 | 74,674.54 | 78,984.34 | |||
| 2.Increaseinthecurrentperiod | ||||||
| (1)Accrual | ||||||
| 3.Decreaseinthecurrentperiod | ||||||
| (1)Disposalorobsolescence | ||||||
| 4.Closingbalance | 4,309.80 | 74,674.54 | 78,984.34 | |||
| IV.Bookvalue | ||||||
| 1.Closingbookvalue | 1,436,785,876.41 | 36,012,869.38 | 10,679,381.22 | 95,799,094.89 | 1,109,761.47 | 1,580,386,983.37 |
| 2.Openingbookvalue | 1,459,246,348.21 | 40,931,062.96 | 12,826,676.93 | 98,494,481.90 | 1,294,022.67 | 1,612,792,592.67 |
(2)Temporarilyidlefixedassets
Unit:RMB
| Item | Originalbookvalue | Accumulateddepreciation | Impairmentprovision | Bookvalue | Note |
(3)Fixedassetsleasedoutthroughoperatinglease
Unit:RMB
| Item | Closingbookvalue |
(4)Fixedassetswithoutpropertyrightscertificate
Unit:RMB
| Item | Bookvalue | Reasonsfornotcompletingthepropertyrightscertificateapplication |
| Premisesandbuildings | 747,215,249.27 | Inprocess |
(5)Liquidationoffixedassets
Unit:RMB
| Item | ClosingBalance | OpeningBalance |
otherinformation:
None
22.Constructioninprogress
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Constructioninprogress | 256,986,886.10 | 214,248,125.04 |
| Total | 256,986,886.10 | 214,248,125.04 |
(1)Constructioninprogress
Unit:RMB
| Item | ClosingBalance | OpeningBalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| OffcnFushunBuilding | 147,653,548.32 | 147,653,548.32 | 140,287,691.52 | 140,287,691.52 | ||
| YaxiaBozhouFortunePlaza | 62,847,721.95 | 62,847,721.95 | 62,847,721.95 | 62,847,721.95 | ||
| GAC-ToyotaBozhou4SStores | 9,721,381.62 | 9,721,381.62 | 9,721,381.62 | 9,721,381.62 | ||
| HuangshanFudiStores | 1,391,329.95 | 1,391,329.95 | 1,391,329.95 | 1,391,329.95 | ||
| RizhaoFutureStudyTownProject | 33,059,632.94 | 33,059,632.94 | ||||
| NewprojectofZhongchengRealEstate | 2,313,271.32 | 2,313,271.32 | ||||
| Total | 256,986,886.10 | 256,986,886.10 | 214,248,125.04 | 214,248,125.04 | ||
(2)Changesofsignificantprojectsinconstructioninthecurrentperiod
Unit:RMB
| Item | Budget | Openingbalance | Increaseintheperiod | Transferredfixedassetsintheperiod | Otherdecreaseintheperiod | Closingbalance | Proportionofaccumulativeprojectinvestmentinbudget(%) | Projectprogress(%) | Accumulativeamountofinterestcapitalization | Including:capitalizationamountofcurrentinterest | Currentinterestcapitalizationrate(%) | Capitalsources |
| OffcnFushunBuilding | 330,000,000.00 | 140,287,694.52 | 7,365,856.80 | 147,653,548.32 | 44.74% | 44.74% | Others | ||
| RizhaoFutureStudyTownProject | 195,000,000.00 | 0.00 | 33,059,632.94 | 33,059,632.94 | 16.95% | 16.95% | Others | ||
| Total | 525,000,000.00 | 140,287,694.52 | 40,425,489.74 | 180,713,181.26 | -- | -- | -- |
(3)Accrualofimpairmentprovisionforconstructioninprogressintheperiod
Unit:RMB
| Item | Accrualamount | Reason |
Otherinformation:
None
(4)Engineeringmaterials
Unit:RMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
23.Productivebiologicalassets
(1)Productivebiologicalassetsmeasuredbycost
□Applicable√Notapplicable
(2)Productivebiologicalassetsmeasuredbyfairvalue
□Applicable√Notapplicable
24.Oilandgasassets
□Applicable√Notapplicable
25.Right-of-useassets
Unit:RMB
| Item | Rent | Total |
| I.Originalbookvalue | ||
| 1.Openingbalance | 1,491,006,998.14 | 1,491,006,998.14 |
| 2.Increasedamountinthecurrentperiod | 77,742,880.29 | 77,742,880.29 |
| (1)Newleasecontracts | 77,742,880.29 | 77,742,880.29 |
3.Decreasedamountinthecurrentperiod
4.Closingbalance
| 4.Closingbalance | 1,568,749,878.43 | 1,568,749,878.43 |
| II.Accumulatedimpairment | ||
| 1.Openingbalance | ||
| 2.Increasedamountinthecurrentperiod | 223,626,364.59 | 223,626,364.59 |
| (1)Accrual | 223,626,364.59 | 223,626,364.59 |
| 3.Decreasedamountinthecurrentperiod |
| (1)Disposal |
| 4.Closingbalance | 223,626,364.59 | 223,626,364.59 |
| III.Impairmentprovision | ||
| 1.Openingbalance | ||
| 2.Increasedamountinthecurrentperiod | ||
| (1)Accrual |
| 3.Decreasedamountinthecurrentperiod |
| (1)Disposal |
| 4.Closingbalance | ||
| IV.Bookvalue | ||
| 1.Closingbookvalue | 1,345,123,513.84 | 1,345,123,513.84 |
| 2.Openingbookvalue | 1,491,006,998.14 | 1,491,006,998.14 |
Otherinformation:
None
26.Intangibleassets
(1)Intangibleassets
Unit:RMB
| Item | Landuseright | Patentright | Non-patenttechnology | Softwareuseright | Trademarkright | Total |
| I.Originalbookvalue | ||||||
| 1.Openingbalance | 446,725,693.93 | 7,774,286.02 | 7,140,521.53 | 461,640,501.48 |
| 2.Increaseintheperiod | 96,743,250.00 | 96,743,250.00 | |
| (1)Purchase | 96,743,250.00 | 96,743,250.00 | |
| (2)InternalR&D | |||
| (3)Increasefrombusinesscombination |
| 3.Decreaseintheperiod |
| (1)Disposal |
| 4.Closingbalance | 543,468,943.93 | 7,774,286.02 | 7,140,521.53 | 558,383,751.48 | |
| II.Accumulatedamortization | |||||
| 1.Openingbalance | 29,028,132.73 | 3,810,053.83 | 2,446,748.17 | 35,284,934.73 | |
| 2.Increaseintheperiod | 6,984,256.42 | 359,948.50 | 363,778.74 | 7,707,983.66 | |
| (1)Accrual | 6,984,256.42 | 359,948.50 | 363,778.74 | 7,707,983.66 |
| 3.Decreaseintheperiod |
| (1)Disposal |
| 4.Closingbalance | 36,012,389.15 | 4,170,002.33 | 2,810,526.91 | 42,992,918.39 | |
| III.Impairmentprovision | |||||
| 1.Openingbalance | 3,111.00 | 3,111.00 | |||
| 2.Increaseintheperiod | |||||
| (1)Accrual |
| 3.Decreaseintheperiod |
| (1)Disposal |
| 4.Closingbalance | 3,111.00 | 3,111.00 | |||
| IV.Bookvalue | |||||
| 1.Closingbookvalue | 507,456,554.78 | 3,601,172.69 | 4,329,994.62 | 515,387,722.09 | |
| 2.Openingbookvalue | 417,697,561.20 | 3,961,121.19 | 4,693,773.36 | 426,352,455.75 |
Nointangibleassetsformedthroughinternalresearchanddevelopmentatperiod-end.
(2)Landuserightswithoutpropertyrightscertificate
Unit:RMB
| Item | Bookvalue | Reasonsfornotcompletingpropertyrightscertificateapplication |
| Land-userights | 232,007,692.55 | inprocess |
Otherinformation:
None
27.Developmentexpenditure
Unit:RMB
| Item | Openingbalance | Increaseintheperiod | Decreaseintheperiod | Closingbalance | ||||
| Internaldevelopmentexpenditure | Others | Recognizedasintangibleassets | Transferredtocurrentprofitandloss | |||||
Otherinformation:
None
28.Goodwill
(1)Originalbookvalueofgoodwill
Unit:RMB
| Nameoftheinvesteeanditemforminggoodwill | Openingbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Closingbalance | ||
| Formedbybusinesscombination | Disposal | |||||
| ShandongKunzhongRealEstateCo.,Ltd. | 39,378,573.51 | 39,378,573.51 | ||||
| NanjingHuiyueHotelManagementCo.,Ltd. | 60,489,146.87 | 60,489,146.87 | ||||
| Total | 99,867,720.38 | 99,867,720.38 | ||||
(2)Goodwillimpairmentprovision
Unit:RMB
| Nameoftheinvesteeanditemforminggoodwill | Openingbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Closingbalance | ||
| Accrual | Disposal | |||||
RelevantinformationofassetgrouporcombinationofassetgroupwheregoodwillislocatedTheCompany'sacquisitionofShandongKunzhongRealEstateCo.,Ltd.in2016generatedgoodwillofRMB39,378,573.51.TheCompanydistributedthegoodwillintorelevantassetgroups.Thegoodwillrelevantassetgroupsconsistedoflong-termassets,goodwillanddeferredtaxliability.Therecoverableamountoftheassetgroupsisdeterminedbasedonthenetamountoffairvalueafterdeductionofthedisposalexpenses.TheCompany'sacquisitionofNanjingHuiyueHotelManagementCo.,Ltd.in2018generatedgoodwillofRMB60,489,146.87.TheCompanydistributedthegoodwillintorelevantassetgroups.Thegoodwillrelevantassetgroupsconsistedoflong-termassets,goodwillanddeferredtaxliability.Therecoverableamountoftheassetgroupsisdeterminedbasedonthenetamountoffairvalueafterdeductionofthedisposalexpenses.
Statementontheconfirmationmethodsforthetestingofgoodwillimpairment,keyparameters(suchasthegrowthrateintheforecastperiodwhenthepresentvalueoffuturecashflowispredicted,growthrateinthestableperiod,profitrate,discountrate,forecastperiod,etc.)andgoodwillimpairmentloss:
DetailsonthemethodofgoodwillimpairmenttestingandprovisionforgoodwillimpairmentareonNoteV.31,“Long-termAssetImpairment”ofthisreportforreference.
TherecoverableamountoftheCompany'sassetgroupscontaininggoodwillisestimatedaccordingtothefairvalueoftheassetgroupscontaininggoodwillafterdeductionofdisposalexpenses.Forassetswithfairvaluethatcanbereferredtointhemarket,themarketcomparisonmethodisappliedtoestimate,andatthesametime,thedifferenceabouttime,transaction,regionandotherfactorsareconsideredtodeterminethereferencedatefairvalueoftheassetstobeestimated.Forotherassets,thereferencedatefairvalueoftheassetstobeestimatedwillbemeasuredbycostmethodbasedonthestatusquoofassets.TheCompanyentrustedanassetappraisalcompanytotestgoodwillimpairment.Afterthetest,noimpairmentofgoodwillwasfound,andnoimpairmentprovisionwasmade.ImpactofgoodwillimpairmenttestOtherinformation
29.Long-termdeferredexpenses
Unit:RMB
| Item | Openingbalance | Increaseintheperiod | Amortizationintheperiod | Otherdecrease | Closingbalance |
| Decorationexpenditure | 400,291,298.64 | 17,011,642.19 | 25,886,666.44 | 391,416,274.39 | |
| Marketingfee | 4,647,461.46 | 124,000.00 | 281,139.54 | 4,490,321.92 | |
| Propertyandheating | 552,757.48 | 82,887.94 | 47,434.94 | 588,210.48 | |
| Other | 7,017,148.62 | 624,000.00 | 994,784.60 | 6,646,364.02 | |
| Total | 412,508,666.20 | 17,842,530.13 | 27,210,025.52 | 403,141,170.81 |
30.Deferredtaxassetsanddeferredtaxliabilities
(1)Deferredincometaxassetswithoutoffsetting
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Deductibletemporarydifference | Deferredincometaxassets | Deductibletemporarydifference | Deferredincometaxassets | |
| Provisionforimpairmentofassets | 2,917,832.36 | 647,660.06 | 1,879,621.51 | 412,811.14 |
| Deductiblelosses | 84,774,502.49 | 21,193,625.63 | 84,774,502.49 | 21,193,625.63 |
| Total | 87,692,334.85 | 21,841,285.69 | 86,654,124.00 | 21,606,436.77 |
(2)Deferredincometaxliabilitieswithoutoffsetting
Unit:RMB
| Item | Closingbalance | Openingbalance | ||
| Taxabletemporarydifference | Deferredtaxliabilities | Taxabletemporarydifference | Deferredtaxliabilities | |
| Appraisalandappreciationofconsolidatedassetsofnon-identicalcontrolledenterprises | 360,122,696.52 | 90,030,674.13 | 365,183,429.96 | 91,295,857.49 |
| Changesinfairvalueofotherequityinstrumentinvestments | 40,000,000.00 | 10,000,000.00 | 40,000,000.00 | 10,000,000.00 |
| Changesinfairvalueoftransactionalfinancialassetsheldfortrading | 31,766,038.41 | 4,722,014.75 | 22,697,173.26 | 3,381,587.10 |
| Total | 431,888,734.93 | 104,752,688.88 | 427,880,603.22 | 104,677,444.59 |
(3)Deferredincometaxassetsorliabilitiespresentedinnetamountafteroffsetting
Unit:RMB
| Item | Mutualoffsetamountattheendofthereportingperiod | Closingbalanceofdeferredtaxassetsorliabilitiesafteroffset | Mutualoffsetamountattheendofthereportingperiod | Openingbalanceofdeferredtaxassetsorliabilitiesafteroffset |
(4)Detailsofunrecognizeddeferredtaxassets
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Deductibletemporarydifference | 221,561.67 | |
| Deductiblelosses | 153,903,457.17 | 55,733,407.18 |
| Total | 153,903,457.17 | 55,954,968.85 |
(5)Deductiblelossesofunrecognizeddeferredincometaxassetswillexpireinthefollowingyears
Unit:RMB
| Year | Closingbalance | Openingbalance | Note |
| 2021 | 10,989,030.45 | ||
| 2022 | 119,383.82 | 119,383.82 | |
| 2023 | 11,480,964.23 | 11,480,964.23 | |
| 2024 | 9,916,453.43 | 9,975,369.01 | |
| 2025 | 22,613,078.75 | 23,168,659.67 | |
| 2026 | 109,773,576.94 | ||
| Total | 153,903,457.17 | 55,733,407.18 | -- |
Otherinformation:
31.Othernon-currentassets
Unit:RMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Prepaymentforland | 3,099,666,994.36 | 3,099,666,994.36 | 601,000,000.00 | 601,000,000.00 | ||
| Investmentfunds | 500,800,000.00 | 500,800,000.00 | 500,800,000.00 | 500,800,000.00 | ||
| Prepaymentforconstruction | 152,033,626.50 | 152,033,626.50 | 35,584,390.50 | 35,584,390.50 | ||
| Inputtaxtobededucted/tobecertified | 10,816,231.50 | 10,816,231.50 | 13,707,312.81 | 13,707,312.81 | ||
| Total | 3,763,316,852.36 | 3,763,316,852.36 | 1,151,091,703.31 | 1,151,091,703.31 | ||
32.Short-termborrowings
(1)Classification
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Pledgeborrowings | 479,768,050.00 | |
| Creditborrowings | 3,875,201,272.25 | 3,496,251,279.22 |
| Total | 3,875,201,272.25 | 3,976,019,329.22 |
Descriptionoftheclassificationofshort-termborrowings:
(2)Overdueshort-termloansThetotalamountofoverdueshort-termloansattheendoftheperiodisRMB0.00,amongwhichtheimportantoverdueshort-termloansareasfollows.
| Borrower | Closingbalance | Borrowingrates | Overduetime | Overdueinterestrates |
33.Transactionalfinancialliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Inc: | ||
| Inc: |
Otherinformation:
None
34.Derivativefinancialliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
Otherinformation:
None
35.Notespayable
Unit:RMB
| Category | Closingbalance | Openingbalance |
TheamountofunpaidnotespayableduebytheendofcurrentperiodisRMB0.00.
36.Accountspayable
(1)Listofaccountspayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Fixedassetspayment | 83,112,000.00 | 83,112,000.00 |
| Projectpayments | 50,477,611.42 | 53,138,461.93 |
| Directcostforclassoperating | 3,876,587.87 | 47,005,391.45 |
| Marketingfees | 163,381.00 | 12,918,597.97 |
| Decorationcosts | 12,241,210.93 | 11,312,336.01 |
| Rentandpropertyfees | 4,337,615.50 | |
| Total | 149,870,791.22 | 211,824,402.86 |
(2)Majoraccountspayablewithaccountageoveroneyear
Unit:RMB
| Item | Closingbalance | Causesforoutstandingorcarry-over |
37.Receiptsinadvance
(1)Listofreceiptsinadvance
Unit:RMB
| Item | Closingbalance | Openingbalance |
(2)Majorreceiptsinadvancewithaccountageoveroneyear
Unit:RMB
| Item | Closingbalance | Causesforoutstandingorcarry-over |
38.Contractliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Advancedreceiptsfromtraining | 4,228,450,064.98 | 4,925,351,396.44 |
| Others | 54,368.93 | 76,912.89 |
| Total | 4,228,504,433.91 | 4,925,428,309.33 |
Amountandreasonsformajorchangesinbookvalueintheperiod
Unit:RMB
| Item | Changesinamount | Reasonsforchanges |
39.Employeecompensation
(1)Listofemployeecompensation
Unit:RMB
| Item | Openingbalance | Increaseintheperiod | Decreaseintheperiod | Closingbalance |
| I.Short-termcompensation | 636,827,645.79 | 3,089,484,708.33 | 3,363,857,969.86 | 362,454,384.26 |
| II.Post-employmentwelfare-definedcontributionplan | 620,788.20 | 190,838,474.97 | 182,273,212.70 | 9,186,050.47 |
| III.Dismissionwelfare | 356,644.67 | 356,644.67 | ||
| Total | 637,448,433.99 | 3,280,679,827.97 | 3,546,487,827.23 | 371,640,434.73 |
(2)Listofshort-termcompensation
Unit:RMB
| Item | Openingbalance | Increaseintheperiod | Decreaseintheperiod | Closingbalance |
| 1.Wagesorsalaries,bonuses,allowancesandsubsidies | 628,829,674.62 | 2,887,560,462.94 | 3,160,928,178.48 | 355,461,959.08 |
| 2.Staffwelfare | 9,591,743.11 | 9,591,743.11 | ||
| 3.Socialsecuritycontributions | 6,950,840.17 | 115,339,522.25 | 115,976,797.12 | 6,313,565.30 |
| Inc:Medicalinsurance | 6,934,136.71 | 108,324,277.72 | 109,161,811.42 | 6,096,603.01 |
| Employmentinjuryinsurance | 3,575.24 | 3,657,756.77 | 3,446,907.76 | 214,424.25 |
| Maternityinsurance | 13,128.22 | 3,357,487.76 | 3,368,077.94 | 2,538.04 |
| 4.Housingfund | 1,041,581.00 | 76,918,831.83 | 77,282,458.19 | 677,954.64 |
| 5.Laborunionexpenditureandemployeeeducationexpenditure | 5,550.00 | 74,148.20 | 78,792.96 | 905.24 |
| Total | 636,827,645.79 | 3,089,484,708.33 | 3,363,857,969.86 | 362,454,384.26 |
(3)Listofpost-employmentwelfare-definedcontributionplan
Unit:RMB
| Item | Openingbalance | Increaseintheperiod | Decreaseintheperiod | Closingbalance |
| 1.Basicendowmentinsurance | 600,449.08 | 183,704,612.99 | 175,402,074.97 | 8,902,987.10 |
| 2.Unemploymentinsurance | 20,339.12 | 7,133,861.98 | 6,871,137.73 | 283,063.37 |
| Total | 620,788.20 | 190,838,474.97 | 182,273,212.70 | 9,186,050.47 |
Otherinformation:
None
40.Taxespayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Value-addedtax | 35,808,803.54 | 8,571,895.29 |
| Corporateincometax | 182,578.31 | 119,249,068.60 |
| Individualincometax | 278,487.34 | 160,427.08 |
| Citymaintenanceandconstructiontax | 2,625,577.76 | 549,182.28 |
| Propertytax | 1,307,267.91 | 1,251,091.59 |
| Landusetax | 955,384.35 | 806,176.59 |
| Educationsurcharge | 1,134,086.67 | 238,219.17 |
| Others | 873,430.65 | 285,710.18 |
| Total | 43,165,616.53 | 131,111,770.78 |
41.Otherpayables
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Otherpayables | 51,658,574.07 | 9,479,383.03 |
| Total | 51,658,574.07 | 9,479,383.03 |
(1)Interestpayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
Majoroverdueinterestpayable:
Unit:RMB
| Borrower | Amountoutstanding | Reason |
Otherinformation:
None
(2)Dividendspayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
Otherinformationincludingreasonsformajordividendspayableoverdueformorethanoneyear:
None
(3)Otheraccountspayable
1)Listofotherpayablesbynatureofpayment
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Currentexpense | 42,805,952.64 | 1,597,271.61 |
| Socialsecurityandhousingfund | 1,869,849.65 | 924,969.11 |
| Reimbursedexpensesandothers | 6,982,771.78 | 6,957,142.31 |
| Total | 51,658,574.07 | 9,479,383.03 |
2)Majorotherpayableswithaccountageoveroneyear
Unit:RMB
| Item | Closingbalance | Causesforoutstandingorcarry-over |
Otherinformation:
None
42.Held-for-saleliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
Otherinformation:
None
43.Non-currentliabilitiesduewithinoneyear
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Leaseliabilitiesduewithinoneyear | 507,142,087.47 | 699,372,590.26 |
| Total | 507,142,087.47 | 699,372,590.26 |
44.Othercurrentliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Outputtaxtobetransferred | 126,855,133.02 | 147,765,156.66 |
| Total | 126,855,133.02 | 147,765,156.66 |
Changesinshort-termbondspayable
Unit:RMB
| Nameofbond | Parvalue | Dateofissuance | Bondperiod | Amountofissuance | Openingbalance | Issuanceintheperiod | Interestaccruedatparvalue | Premiumanddiscountamortization | Repayintheperiod | Closingbalance |
Otherinformation:
None
45.Long-termborrowings
(1)Categoryoflong-termborrowings
Unit:RMB
| Item | Closingbalance | Openingbalance |
46.Bondspayable
(1)Bondspayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
(2)Changesinbondspayable(Excludingotherfinancialinstrumentssuchaspreferredstocksorperpetualbondsthatareclassifiedasfinancialliabilities)
Unit:RMB
| Nameofbond | Parvalue | Dateofissuance | Bondperiod | Amountofissuance | Openingbalance | Issuanceintheperiod | Interestaccruedatparvalue | Premiumanddiscountamortization | Repayintheperiod | Closingbalance |
| Total | -- | -- | -- |
(3)Descriptionofconversionconditionsandconversiontimeofconvertiblecorporatebonds
(4)DescriptionofotherfinancialinstrumentsclassifiedasfinancialliabilitiesInformationofotherfinancialinstrumentssuchaspreferredstocksandperpetualbondsissuedattheendoftheperiodTableofotherfinancialinstrumentssuchaspreferredstocksandperpetualbondsissuedattheendoftheperiod
Unit:RMB
| Financialinstrumentsissued | Opening | Increaseintheperiod | Decreaseintheperiod | Closing | ||||
| Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | |
ExplanationofthebasisforclassifyingotherfinancialinstrumentsasfinancialliabilitiesOtherinformation
47.Leaseliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Leaseofpremisesandbuildings | 534,044,069.15 | 632,866,068.34 |
| Total | 534,044,069.15 | 632,866,068.34 |
48.Long-termpayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
(1)Listoflong-termpayablebynatureofpayment
Unit:RMB
| Item | Closingbalance | Openingbalance |
(2)Specialpayable
Unit:RMB
| Item | Openingbalance | Increaseintheperiod | Decreaseintheperiod | Closingbalance | Reason |
Otherinformation:
49.Long-termemployeecompensationpayable
(1)Long-termemployeecompensationpayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
(2)ChangesindefinedbenefitplansPresentvalueofdefinedbenefitplanobligations:
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
Planassets:
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
Netliabilitiesofdefinedbenefitplan(netassets)
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
Descriptionofthedefinedbenefitplan’scontents,relevantrisksandimpactontheCompany’scashflow,timeanduncertainty:
Descriptionoftheanalysisresultofthedefinebenefitplan’ssignificantactuarialassumptionsandsensitivity:
Otherinformation:
50.Estimatedliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance | Reason |
51.Deferredincome
Unit:RMB
| Item | Openingbalance | Increaseintheperiod | Decreaseintheperiod | Closingbalance | Reason |
Projectsinvolvinggovernmentsubsidies
Unit:RMB
| Item | Openingbalance | Increasedsubsidies | Amountincludedinnon-operatingincome | Amountincludedinotherincome | Amountofcostreduction | Otherchanges | Closingbalance | Relatedtoassets/income |
52.Othernon-currentliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
Otherinformation:
53.Sharecapital
Unit:RMB
| Openingbalance | Changesinthecurrentperiod(+/-) | Closingbalance | |||||
| Newsharesissued | Bonusshares | Sharesconvertedfromcapitalreserve | Others | Subtotal | |||
| Totalnumberofshares | 103,807,623.00 | 103,807,623.00 | |||||
Otherinformation:
None
54.Otherequityinstruments
(1)Informationofotherfinancialinstrumentssuchaspreferredstocksandperpetualbondsissuedattheendofthe
periodNone
(2)Changesforotherfinancialinstrumentssuchaspreferredstocksandperpetualbondsissuedattheendoftheperiod
Unit:RMB
| Financialinstrumentsissued | Opening | Increaseintheperiod | Decreaseintheperiod | Closing | ||||
| Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | |
Changesofotherequityinstrumentsinthecurrentperiod,explanationsofthereasonsforthechanges,andthebasisforrelatedaccountingtreatments:
Otherinformation:
None
55.Capitalreserve
Unit:RMB
| Item | Openingbalance | Increaseintheperiod | Decreaseintheperiod | Closingbalance |
| Capitalpremium(equitypremium) | 1,225,481,049.50 | 1,225,481,049.50 | ||
| Total | 1,225,481,049.50 | 1,225,481,049.50 |
Otherinformation,includingchangesintheperiodandreasonsforthechanges:
None
56.Treasurystock
Unit:RMB
| Item | Openingbalance | Increaseintheperiod | Decreaseintheperiod | Closingbalance |
Otherinformation,includingchangesintheperiodandreasonsforthechanges:
None
57.Othercomprehensiveincome
Unit:RMB
| Item | Opening | Amountforthecurrentperiod | Closing |
| balance | Amountbeforeincometaxforthecurrentperiod | Less:Earnedtoothercomprehensiveincomeinthepreviousperiodandtransferredtoprofitandlossinthecurrentperiod | Less:Earnedtoothercomprehensiveincomeinthepreviousperiodandtransferredtoretainedearningsinthecurrentperiod | Less:incometaxexpenses | Attributabletotheparentcompany,aftertax | Attributabletominorityshareholdersaftertax | balance | |
| 1.Othercomprehensiveincomenotreclassifiedintogainsorlosses | 30,000,000.00 | 30,000,000.00 | ||||||
| Changesinthefairvalueofotherequityinstrumentinvestments | 30,000,000.00 | 30,000,000.00 | ||||||
| Totalothercomprehensiveincome | 30,000,000.00 | 30,000,000.00 |
Otherinformation:includingtheadjustmentoftheeffectivepartofthecashflowhedgegainsandlossesconvertedintotheinitiallyconfirmedamountofthehedgeditem:
None
58.Specialreserve
Unit:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
Otherinformationincludingchangesinthecurrentperiodandthecorrespondingreasons:
None
59.Surplusreserve
Unit:RMB
| Item | Openingbalance | Increaseinthecurrent | Decreaseinthecurrent | Closingbalance |
| period | period | |||
| Statutorysurplusreserve | 45,000,000.00 | 45,000,000.00 | ||
| Total | 45,000,000.00 | 45,000,000.00 |
Informationforsurplusreserve,includingthechangesandthereasonsinthecurrentperiod:
None.
60.Retainedearnings
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Retainedearningsattheendofthepreviousperiodbeforeadjustment | 2,870,839,120.70 | 2,046,657,231.32 |
| Retainedearningsatthebeginningoftheyearafteradjustment | 2,870,839,120.70 | 2,046,657,231.32 |
| Add:netprofitattributabletoownersoftheParentCompanyforthecurrentperiod | -97,162,509.03 | 2,304,357,742.74 |
| Dividendpayableforordinaryshares | 1,480,175,853.36 | |
| Retainedearningsattheendoftheyear | 2,773,676,611.67 | 2,870,839,120.70 |
Detailsfortheadjustmentoftheretainedearningsatthebeginningoftheperiod:
(1)TheretainedearningsatthebeginningoftheperiodimpactedbytheretroactiveadjustmentoftheASBE(AccountingStandardsforBusinessEnterprises)anditsnewregulations:RMB0.00.
(2)Theretainedearningsatthebeginningoftheperiodimpactedbythechangesinaccountingpolicies:RMB0.00.
(3)Theretainedearningsatthebeginningoftheperiodimpactedbythemajoraccountingerrorcorrection:
RMB0.00.
(4)Theretainedearningsatthebeginningoftheperiodimpactedbythechangeofcombinationscopeundercommoncontrol:RMB0.00.
(5)Theretainedearningsatthebeginningoftheperiodimpactedbyotheradjustments:RMB0.00.
61.Revenueandoperatingcost
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod | ||
| Revenue | Operatingcost | Revenue | Operatingcost | |
| Mainbusiness | 4,828,531,538.19 | 2,665,607,334.33 | 2,788,186,999.66 | 1,428,476,161.97 |
| Otherbusiness | 27,466,725.31 | 19,343,903.91 | 19,793,480.94 | 24,135,018.42 |
| Total | 4,855,998,263.50 | 2,684,951,238.24 | 2,807,980,480.60 | 1,452,611,180.39 |
Informationaboutincome:
Unit:RMB
| TypesofContracts | Section1 | Section2 | Total | |
| Inc: | ||||
| Inc: | ||||
| Inc: | ||||
| Inc: | ||||
| Inc: | ||||
| Inc: | ||||
| Inc: |
Informationaboutthefulfillmentofobligations:
NoneInformationabouttransactionpriceamortizedintherestoftheobligationtobefulfilled:
Theincomefromtheunfulfilledoruncompletedobligationwithsignedcontractsattheendofthereportingperiod:
RMB0.00.Otherinformation
62.Taxesandsurcharges
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Citymaintenanceandconstructiontax | 5,442,750.87 | 44,663.79 |
| Educationsurcharge | 3,893,418.07 | 36,306.17 |
| Propertytax | 3,139,389.81 | 3,902,053.06 |
| Landusetax | 1,754,176.99 | 1,693,313.52 |
| Vehicleandvesselusetax | 90,412.50 | 99,003.90 |
| Stamptax | 1,286,352.59 | 419,401.69 |
| Others | 211,050.16 | 82,890.91 |
| Total | 15,817,550.99 | 6,277,633.04 |
Otherinformation:
None
63.Salesexpenses
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Employee’sbenefits | 692,182,853.04 | 514,355,130.96 |
| Marketingfee | 96,439,119.67 | 78,835,398.47 |
| Rentproperty,depreciationandamortizationexpenses | 107,794,443.67 | 62,420,815.84 |
| Travelexpenses | 33,273,322.81 | 29,851,665.86 |
| Others | 46,282,733.64 | 15,354,442.79 |
| Total | 975,972,472.83 | 700,817,453.92 |
Otherinformation:
None
64.Generalandadministrativeexpenses
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Employee’sbenefits | 408,979,549.36 | 348,545,272.28 |
| Rentproperty,depreciationandamortizationexpenses | 63,376,032.40 | 58,897,950.26 |
| Officeexpenses | 80,586,204.68 | 46,201,346.59 |
| Sharepayments | 26,900,000.00 | |
| Travelexpenses | 24,934,914.17 | 19,852,720.39 |
| Welfarefee | 7,656,913.34 | 2,910,382.85 |
| Others | 22,361,198.85 | 15,651,781.77 |
| Total | 607,894,812.80 | 518,959,454.14 |
Otherinformation:
None
65.Researchanddevelopmentexpenses
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Employee’sbenefits | 506,860,968.14 | 364,891,204.61 |
| Travelexpenses | 11,235,148.92 | 7,810,939.90 |
| Others | 24,779,695.37 | 10,525,386.50 |
| Total | 542,875,812.43 | 383,227,531.01 |
Otherinformation:
None
66.Financialexpenses
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Interestexpenses | 126,914,597.79 | 85,130,012.11 |
| Less:Interestincome | 24,674,100.13 | 2,889,907.48 |
| ServiceCharges | 155,563,838.75 | 100,414,519.03 |
| Total | 257,804,336.41 | 182,654,623.66 |
67.Otherincome
Unit:RMB
| Sourcesofotherincome | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Taxreductionandexemption | 62,069,714.49 | 79,195,831.18 |
| Subsidiesforjobsecurity | 998,635.38 | 4,606,016.51 |
| Subsidiesoninsuranceforthedisabled | 185,078.59 | |
| Rentsubsidy | 109,500.00 | 49,680.00 |
| Taxhandlingfeerefund | 98,186.92 | 483,555.74 |
| Governmentrentsubsidy | 80,000.00 | 109,500.00 |
| Smallfinancialsupportincomefromthegovernment | 56,814.73 | 10,124.01 |
| Total | 63,597,930.11 | 84,454,707.44 |
68.Investmentincome
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Dividendincomefromotherequityinstrumentsinvestmentduringtheholdingperiod | 1,327,872.00 | |
| Interestincomeobtainedfromdebtinvestmentduringtheholdingperiod | 31,184,646.29 | 37,890,649.58 |
| Investmentincomefromfinancialproduct | 28,910,968.77 | 90,927,476.86 |
| Total | 61,423,487.06 | 128,818,126.44 |
Otherinformation:
None
69.Netexposurehedgingincome
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
Otherinformation:
None
70.Gainsfromchangesinfairvalues
Unit:RMB
| Sourcesofgainsfromchangesinfairvalues | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Transactionalfinancialassets | 9,068,865.15 | |
| Total | 9,068,865.15 |
Otherinformation:
None
71.Impairmentlossesofcredit
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Lossonbaddebtsofotherreceivables | -355,501.83 | |
| Lossonbaddebtsofreceivables | -1,093,651.92 | -770,761.79 |
| Total | -1,449,153.75 | -770,761.79 |
Otherinformation:
72.Impairmentlossesofassets
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
Otherinformation:
None
73.Incomefromassetsdisposal
Unit:RMB
| Sourcesofincomefromassetsdisposal | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Fixedassets | 55,159.74 | 162,043.59 |
| Investmentproperties | -223,987.77 | |
| Total | -168,828.03 | 162,043.59 |
74.Non-operatingincome
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod | Amountincludedincurrentnon-recurringgainsandlosses |
| Governmentalsubsidy | 19,800.00 |
| Others | 37,698.84 | 348.00 | 37,698.84 |
| Total | 37,698.84 | 20,148.00 | 37,698.84 |
Governmentsubsidyreckonedintocurrentgainsandlosses:
Unit:RMB
| Item | Entity | Purpose | Type | Whetherthesubsidyimpactsthegain/lossoftheyear | Whetheritisspecialsubsidy | Amountforthecurrentperiod | Amountforthepreviousperiod | Relatedtoassets/income |
Otherinformation:
None
75.Non-operatingexpenses
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod | Amountincludedinthecurrentnon-recurringgainsorlosses |
| Outwarddonation | 100,001.18 | 90,002.28 | 100,001.18 |
| Forfeitureandoverduefine | 192,888.57 | 3,500.00 | 192,888.57 |
| Lossofnon-currentassetsdisposal | 5,264.50 | 5,264.50 | |
| Expensesoncompensations | 50,900.00 | 50,900.00 | |
| Total | 349,054.25 | 93,502.28 | 349,054.25 |
Otherinformation:
None
76.Incometaxexpenses
(1)Statementofincometaxexpenses
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Currentincometaxexpense | 167,187.30 | 4,399.43 |
| Deferredincometaxexpense | -159,604.63 | 9,051,295.01 |
| Total | 7,582.67 | 9,055,694.44 |
(2)Adjustmentprocessofaccountingprofitandincometaxexpense
Unit:RMB
| Item | Amountforthecurrentperiod |
| Totalprofit | -97,157,015.07 |
| Incometaxexpensescalculatedatstatutory/applicabletaxrate(s) | -14,573,552.26 |
| Impactfromdifferenttaxratesapplicabletosubsidiaries | -1,758,854.01 |
| Impactfromadjustmentofpreviousperiodsincometax | 57,195.60 |
| Impactfromnon-taxableincome | -331,968.00 |
| Impactfromnon-deductiblecost,expenseandloss | 89,605.73 |
| Impactfromusingdeductiblelossesofpreviouslyunrecognizeddeferredincometaxassets | -67,674.20 |
| Impactfromdeductibletemporarydifferencesordeductiblelossesofdeferredincometaxassetsunrecognizedinthecurrentperiod | 16,592,829.81 |
| Expenseofincometax | 7,582.67 |
Otherinformation:
None
77.OthercomprehensiveincomeFordetails,pleaserefertoNoteVII(57)“Othercomprehensiveincome”ofthisreport.
78.Cashflowstatementitems
(1)Othercashreceivedrelatedtooperatingactivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Depositsandguarantees | 28,930,208.62 | 5,802,263.50 |
| Governmentsubsidyandothernon-operatingincome | 1,528,215.62 | 5,403,032.41 |
| interestincome | 24,674,100.13 | 2,889,907.48 |
| Reservefunds | 67,210.12 | 43,861.00 |
| Reimbursedexpensesandothers | 11,835.47 | |
| Total | 55,211,569.96 | 14,139,064.39 |
Informationofcashreceivedfromotheroperatingactivities:
None
(2)OtherCashpaidrelatedtooperatingactivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Dailyexpenses | 332,369,243.27 | 468,436,624.08 |
| Servicecharges | 117,563,838.75 | 77,914,519.03 |
| Depositsandguarantees | 107,899,911.95 | 74,271,198.10 |
| Non-operatingexpenses | 343,789.75 | 93,502.28 |
| Reservefunds | 372,060.12 | 259,882.23 |
| Total | 558,548,843.84 | 620,975,725.72 |
Informationofcashpaidforotheroperatingactivities:
None
(3)Othercashreceivedrelatedtoinvestmentactivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
Informationofcashreceivedfromotherinvestmentactivities:
None
(4)Othercashpaidrelatedtoinvestmentactivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
Informationofcashpaidforotherinvestmentactivities:
None
(5)Othercashreceivedrelatedtofundraisingactivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
Informationofcashreceivedfromotherfundraisingactivities:
None
(6)Othercashpaidrelatedtofundraisingactivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Servicecharges | 333,478.85 | |
| Rentalpayment | 392,129,451.92 | |
| Total | 392,129,451.92 | 333,478.85 |
Informationofcashpaidforotherfundraisingactivities:
None
79.Supplementaryinformationoncashflowstatement
(1)Supplementaryinformationoncashflowstatement
Unit:RMB
| Supplementaryinformation | Amountforthecurrentperiod | Amountforthepreviousperiod |
| 1.Netprofitadjustedtocashflowofoperatingactivities: | -- | -- |
| Netprofit | -97,164,597.74 | -233,032,328.60 |
| Add:Provisionforimpairmentofassets | 1,449,153.75 | 770,761.79 |
| Depreciationoffixedassetsandproductivebiologicalassets,anddepletionofoilandgasassets | 53,128,042.71 | 40,449,626.79 |
| Depreciationofright-of-useassets | 223,626,364.59 | |
| Amortizationofintangibleassets | 7,707,983.66 | 3,377,910.95 |
| Amortizationoflong-termdeferredexpense | 25,886,666.44 | 31,958,369.36 |
| Lossesondisposaloffixedassets,intangibleassetsandotherlong-termassets(gainsareindicatedby“-”) | 168,828.03 | -162,043.59 |
| Lossesonwrite-offoffixedassets(gainsareindicatedby“-”) | ||
| Lossesonchangesinfairvalues(gainsareindicatedby“-”) | -9,068,865.15 | |
| Financialexpenses(incomeisindicatedby“-”) | 126,914,597.79 | 85,130,012.11 |
| Lossesfrominvestments(gainsareindicatedby“-”) | -61,423,487.06 | -128,818,126.44 |
| Decreaseindeferredincometaxassets(increaseisindicatedby“-”) | -234,848.92 | 10,319,742.19 |
| Increaseindeferredincometaxliabilities(decreaseisindicatedby“-”) | 75,244.29 | -1,268,447.18 |
| Decreaseininventories(increaseisindicatedby“-”) | ||
| Decreaseinoperatingreceivables(increaseisindicatedby“-”) | -142,759,060.10 | -198,166,879.62 |
| Increaseinoperatingpayables(decreaseisindicatedby“-”) | -1,067,397,480.24 | 4,426,216,906.43 |
| Others | 26,900,000.00 | |
| Netcashflowfromoperatingactivities | -939,091,457.95 | 4,063,675,504.19 |
| 2.Significantinvestmentandfinancingactivitiesinvolvingcashflow: | -- | -- |
| Conversionofdebtintocapital | ||
| Convertiblebondsduewithin1year | ||
| Fixedassetsacquiredunderfinancinglease |
| 3.Netchangesincashandcashequivalents: | -- | -- |
| Closingbalanceofcash | 3,560,210,085.18 | 4,665,798,912.43 |
| Less:Openingbalanceofcash | 5,950,036,489.12 | 2,724,335,001.58 |
| Add:Closingbalanceofcashequivalents | ||
| Less:Openingbalanceofcashequivalents | ||
| Netincreaseofcashandcashequivalents | -2,389,826,403.94 | 1,941,463,910.85 |
(2)Netcashpaidforacquiringsubsidiariesforthecurrentperiod
Unit:RMB
| Amount | |
| Inc: | -- |
| Inc: | -- |
| Inc: | -- |
Otherinformation:
None
(3)Netcashacquiredfromdisposalofsubsidiariesinthecurrentperiod
Unit:RMB
| Amount | |
| Inc: | -- |
| Inc: | -- |
| Inc: | -- |
(4)Compositionofcashandcashequivalents
Unit:RMB
| Item | Closingbalance | Openingbalance |
| I.Cash | 3,560,210,085.18 | 5,950,036,489.12 |
| Including:Cashonhand | 90,792.90 | 67,906.76 |
| Cashonbankavailableforpaymentatanytime | 3,366,159,584.89 | 5,881,843,030.73 |
| Othermonetaryfundsavailableforpaymentatanytime | 193,959,707.39 | 68,125,551.63 |
| III.Closingbalanceofcashandcashequivalent | 3,560,210,085.18 | 5,950,036,489.12 |
80.Notesonstatementofchangesinowners'equityExplanationoftheadjustmentofnameof“otheritems”andtheamounttotheclosingbalanceattheendofthepreviousyear:
Notapplicable
81.Assetswithrestrictedownershiporrightsofuse
Unit:RMB
| Item | Closingbookvalue | Reasonforrestriction |
| Monetaryfunds | 358,600.00 | guarantees |
| Total | 358,600.00 | — |
82.Monetaryitemsdenominatedinforeigncurrency
(1)Monetaryitemsdenominatedinforeigncurrency
Unit:RMB
| Item | Closingbalanceofforeigncurrency | Exchangerate | ClosingbalanceofRMBconverted |
| Monetaryfunds | — | — | |
| Inc:USD | |||
| EURO | |||
| HKD |
| Accountsreceivable | — | — |
| Inc:USD | ||
| EURO | ||
| HKD |
| Long-termborrowings | — | — |
| Inc:USD | ||
| EURO | ||
| HKD |
(2)Descriptionsforout-boundoperationalentity,includingthedisclosureofimportantout-boundentity’sprincipalplaceofbusiness,recordingcurrencyandthebasisofselection.Reasonsshouldberevealediftherecordingcurrencychanges.
□Applicable√Notapplicable
83.HedgingDisclosureofhedgingitems,relatedhedgingtoolsandthequalitativeandquantitativeinformationonhedgedrisksaccordingtohedgecategories:
Notapplicable
84.Governmentsubsidies
(1)GeneralinformationofGovernmentsubsidies
Unit:RMB
| Types | Amount | Listeditems | Amountincludedincurrentgainsandlosses |
| Subsidyforjobsecurity | 998,635.38 | Otherincome | 998,635.38 |
| Rentsubsidy | 109,500.00 | Otherincome | 109,500.00 |
| Governmentrentsubsidy | 80,000.00 | Otherincome | 80,000.00 |
| Smallfinancialsupportincomefromthegovernment | 56,814.73 | Otherincome | 56,814.73 |
| Subsidiesoninsuranceforthedisabled | 185,078.59 | Otherincome | 185,078.59 |
| Total | 1,430,028.70 | 1,430,028.70 |
(2)Refundofgovernmentsubsidies
□Applicable√NotapplicableOtherinformation:
None
85.OthersNoneSectionVIII.ChangesintheConsolidationScope
1.Consolidationofnon-identicalcontrolledenterprises
(1)Consolidationofnon-identicalcontrolledenterprisesforthecurrentperiod
Unit:RMB
| Nameoftheacquiree | Timeofacquiringequity | Costofacquiringequity | Proportionofequityacquisition | Waysofacquiringequity | Dateofacquisition | Basisofdeterminingthedateofacquisition | Incomeoftheacquireefromthepurchasedatetotheendoftheperiod | Netprofitoftheacquireefromthepurchasedatetotheendoftheperiod |
Otherinformation:
None
(2)Mergercostsandgoodwill
Unit:RMB
Explanationofthemethodofdeterminingthefairvalueofthemergercosts,andcontingentconsiderationanditschanges:
Themainreasonsfortheformationoflargeamountofgoodwill:
(3)Theidentifiableassetsandliabilitiesoftheacquireeatthedateofacquisition
Unit:RMB
| Fairvalueatthedateofacquisition | Bookvalueofthedateofacquisition |
Themethodofdeterminingthefairvalueofidentifiableassetsandliabilities:
Thecontingentliabilitiesoftheacquireeassumedinthebusinesscombination:
Otherinformation:
(4)Gainsorlossesarisingfromre-measurementofequityheldbeforethepurchasedateatfairvalueWhetherthereisatransactionthatrealizesbusinesscombinationstepbystepthroughmultipletransactionsandobtainscontrolduringthereportingperiod
□Yes√No
(5)Relevantdescriptionsaboutthefailureofdeterminingthemergerconsiderationorthefairvalueoftheidentifiableassetsandliabilitiesoftheacquireeonthedateofacquisitionorattheendofthemergerperiod
(6)Otherinformation
2.Consolidationofidenticalcontrolledenterprises
(1)Consolidationofidenticalcontrolledenterprisesforthecurrentperiod
Unit:RMB
| Nameofthemergedparty | Equityratioobtainedinthebusinesscombination | Basisforbusinesscombinationundercommoncontrol | Dateofbusinesscombination | Basisofdeterminingthecombinationdate | Incomeofthemergedpartyfromthebeginningofcombinationperiodtothecombinationdate | Netprofitofthemergedpartyfromthebeginningofthecombinationperiodtothecombinationdate | Incomeofthemergedpartyduringthecomparisonperiod | Netprofitofthemergedpartyduringthecomparisonperiod |
Otherinformation:
(2)Mergercosts
Unit:RMB
Descriptionsforthecontingentconsiderationanditschanges:
None
(3)Bookvalueofassetsandliabilitiesofthemergedpartyonthecombinationdate
Unit:RMB
MergercostsCombinationdate
| Combinationdate | Endofthepreviousperiod |
Contingentliabilitiesofthemergedpartyassumedinthebusinesscombination:
None
3.ReversepurchaseBasicinformationofthetransaction,thebasisforrecognizingthetransactionasreversepurchase,whethertheassetsandliabilitiesretainedbythelistedcompanyconstituteabusinessanditsbasis,thedeterminationofthemergercost,theadjustmentamountofequityanditscalculationmethodwhentreatedasequitytransactions:
None
4.DisposalofsubsidiariesWhetherthereisasituationwhereasingledisposaloftheinvestmentinthesubsidiaryresultsinthelossofcontrol
□Yes√NoWhetherthereisasituationwheretheinvestmentinthesubsidiarydisposedstepbystepthroughmultipletransactionsresultsinthelossofcontrolinthecurrentperiod
□Yes√No
5.ChangesinthescopeofconsolidationduetootherreasonsExplanationofthechangesinthescopeofconsolidationcausedbyotherreasons(suchasnewlyestablishedsubsidiaries,liquidationsubsidiaries,etc.)andtherelevantcircumstances:
| Company | Shareholdingratio（%） | Reasonsofchanges |
| AnshanTiedongOffcnEducationTrainingSchoolCo.,Ltd. | 100.00 | Newestablishment |
| DiqingOffcnTrainingSchoolCo.Ltd | 100.00 | Newestablishment |
| WenlingOffcnInformationConsultancyCo.Ltd. | 100.00 | Newestablishment |
6.OthersSectionIX.InterestInOtherEntities
1.Interestinsubsidiaries
(1)CompositionoftheCompany
| Nameofsubsidiaries | Principalplaceofbusiness | Placeofregistration | Natureofbusiness | Shareholdingratio | Acquisitionmethod | |
| Direct | Indirect | |||||
| 1.OffcnLtd. | Beijing | Beijing | Serviceindustry | 100.00% | Reversepurchase | |
| 2.WuhuYaweiAutomobileSalesServiceCo.,Ltd | Wuhu | Wuhu | Merchandisesales,etc. | 100.00% | Newestablishment | |
| 3.NingguoYaxiaAutomobileDriverTrainingSchool(Co.,Ltd.) | Ningguo | Ningguo | Serviceindustry | 100.00% | Newestablishment | |
| 4.HuangshanYaxiaFudiAutomobileSalesServicesCo.,Ltd. | Huangshan | Huangshan | Merchandisesales,etc. | 100.00% | Newestablishment | |
| 5.ChaohuYaxiaKaixuanAutomobileSalesServicesCo.,Ltd. | Hefei | Hefei | Merchandisesales,etc. | 100.00% | Newestablishment | |
| 6.BozhouYaxiaAutomobileDriverTrainingSchoolCo.,Ltd. | Bozhou | Bozhou | Serviceindustry | 100.00% | Newestablishment | |
| 7.SuzhouBokaiAutomobileSalesServicesCo.,Ltd. | Suzhou | Suzhou | Merchandisesales,etc. | 100.00% | Acquisition | |
| 8.BeijingOffcnFutureEducationTechnologyCo.Ltd. | Beijing | Beijing | Serviceindustry | 100.00% | Newestablishment | |
| 9.BeijingOffcnFutureResearchEducationTechnologyCo.,Ltd. | Beijing | Beijing | Serviceindustry | 100.00% | Newestablishment | |
| 10.ShaanxiOffcnEducationTechnologyCo.Ltd. | Xi’an | Xi’an | Serviceindustry | 100.00% | Newestablishment | |
| 11.ChengduOffcnFutureEducationTrainingSchoolCo.Ltd. | Chengdu | Chengdu | Serviceindustry | 100.00% | Newestablishment | |
| 12.ZhejiangOffcnEducationTechnologyCo.Ltd. | Hangzhou | Hangzhou | Serviceindustry | 100.00% | Newestablishment | |
| 13.TaizhouOffcnFutureEnterpriseManagement | Taizhou | Taizhou | Service | 100.00% | New | |
| ConsultingCo.,Ltd. | industry | establishment | ||||
| 14.BeijingOffcnXinzhiyuOnlineTechnologyCo.,Ltd. | Beijing | Beijing | Serviceindustry | 100.00% | Newestablishment | |
| 15.HulunbuirHailarOffcnEducationInformationConsultingCo.,Ltd. | Hulunbuir | Hulunbuir | Serviceindustry | 100.00% | Newestablishment | |
| 16.XilinhotOffcnFutureEducationConsultingCo.,Ltd. | Xilinhot | Xilinhot | Serviceindustry | 100.00% | Newestablishment | |
| 17.YueqingLechengOffcnTrainingCenterCo.,Ltd. | Yueqing | Yueqing | Serviceindustry | 100.00% | Newestablishment | |
| 18.JiaozuoOffcnFutureEducationServiceCo.,Ltd. | Jiaozuo | Jiaozuo | Serviceindustry | 100.00% | Newestablishment | |
| 19.XinzhengOffcnCulturalCommunicationCo.,Ltd. | Zhengzhou | Zhengzhou | Serviceindustry | 100.00% | Newestablishment | |
| 20.ChongqingJiangbeiOffcnVocationalExaminationTrainingCo.,Ltd. | Chongqing | Chongqing | Serviceindustry | 100.00% | Newestablishment | |
| 21.NanningOffcnFutureEducationConsultingCo.,Ltd. | Nanning | Nanning | Serviceindustry | 100.00% | Newestablishment | |
| 22.BaiyinOffcnFutureEducationConsultingCo.,Ltd. | Baiyin | Baiyin | Serviceindustry | 100.00% | Newestablishment | |
| 23.BeijingXindezhiyuanEnterpriseManagementConsultingCo.,Ltd. | Beijing | Beijing | Serviceindustry | 100.00% | Newestablishment | |
| 24.NanjingHuiyueHotelManagementCo.,Ltd. | Nanjing | Nanjing | Serviceindustry | 100.00% | Acquisition | |
| 25.ShandongKunzhongRealEstateCo.,Ltd. | Jinan | Jinan | Serviceindustry | 100.00% | Acquisition | |
| 26.SanmenxiaOffcnCulturalCommunicationCo.,Ltd. | Sanmenxia | Sanmenxia | Serviceindustry | 100.00% | Newestablishment | |
| 27.LiaoningOffcnAcademic&Cultural | Shenyang | Shenyang | Service | 100.00% | New |
| ExchangeCo.,Ltd. | industry | establishment | ||||
| 28.LiaoningOffcnEducationTechnologyCo.,Ltd. | Shenfuxinqu | Shenfuxinqu | Serviceindustry | 100.00% | Newestablishment | |
| 29.ShandongOffcnEducationTechnologyCo.,Ltd. | Qingdao | Qingdao | Serviceindustry | 100.00% | Newestablishment | |
| 30.JilinChangyiOffcnEducationTrainingSchoolCo.,Ltd. | Jilin | Jilin | Serviceindustry | 100.00% | Newestablishment | |
| 31.YuxiOffcnTrainingSchoolCo.,Ltd. | Yuxi | Yuxi | Serviceindustry | 100.00% | Newestablishment | |
| 32.TonghuaOffcnTrainingSchoolCo.,Ltd. | Tonghua | Tonghua | Serviceindustry | 100.00% | Newestablishment | |
| 33.HunanLighsaltOffcnEducationTechnologyCo.,Ltd. | Changsha | Changsha | Serviceindustry | 90.00% | Newestablishment | |
| 34.TianjinHexiOffcnTrainingSchoolCo.,Ltd. | Tianjin | Tianjin | Serviceindustry | 100.00% | Newestablishment | |
| 35ChengduOffcnEducationTrainingSchoolCo.,Ltd. | Chengdu | Chengdu | Serviceindustry | 100.00% | Newestablishment | |
| 36.ShandongZhuodaBusinessManagementCo.,Ltd. | Rizhao | Rizhao | Serviceindustry | 100.00% | Newestablishment | |
| 37.LiaoningZhongchengRealEstateDevelopmentCo.,Ltd. | Shenfuxinqu | Shenfuxinqu | Realestate | 100.00% | Acquisition | |
| 38.WuhuOffcnTrainingSchoolCo.Ltd. | Wuhu | Wuhu | Serviceindustry | 100.00% | Newestablishment | |
| 39.WuhanGuoshangHumanResourceServiceCo.,Ltd. | Wuhan | Wuhan | Serviceindustry | 100.00% | Newestablishment | |
| 40.JinanZhangqiuOffcnTrainingSchoolCo.Ltd. | Jinan | Jinan | Serviceindustry | 100.00% | Newestablishment |
| 41.MengziOffcnEducationTrainingCo.Ltd. | Mengzi | Mengzi | Serviceindustry | 100.00% | Newestablishment | |
| 42.BeijingOffcnTechnologyDevelopmentCo.Ltd | Beijing | Beijing | Serviceindustry | 100.00% | Newestablishment | |
| 43.ShanghaiOffcnEducationTechnologyCo.Ltd. | Shanghai | Shanghai | Serviceindustry | 100.00% | Newestablishment | |
| 44.GuangzhouOffcnSmartEducationTechnologyCo.Ltd. | Guangzhou | Guangzhou | Serviceindustry | 100.00% | Newestablishment | |
| 45.PingshanOffcnEducationTechnologyCo.Ltd. | Shijiazhuang | Shijiazhuang | Serviceindustry | 100.00% | Newestablishment | |
| 46.ShandongOffcnEducationTrainingSchoolCo.Ltd. | Jinan | Jinan | Serviceindustry | 100.00% | Newestablishment | |
| 47.LanzhouOffcnEducationTrainingSchoolCo.Ltd. | Lanzhou | Lanzhou | Serviceindustry | 100.00% | Newestablishment | |
| 48.DiqingOffcnTrainingSchoolCo.,Ltd. | Diqing | Diqing | Serviceindustry | 100.00% | Newestablishment | |
| 49.AnshanTiedongOffcnEducationTrainingSchoolCo.,Ltd. | Anshan | Anshan | Serviceindustry | 100.00% | Newestablishment | |
| 50.WenlingOffcnInformationConsultancyCo.Ltd. | Wenling | Wenling | Serviceindustry | 100.00% | Newestablishment |
Explanationofthedifferencesbetweenthepercentageofsharesheldinthesubsidiaryandthevotingrightsratio:
NoneBasisforthecaseofholdinghalforlessofthevotingrightsbutstillcontrollingtheinvestee,orholdingmorethanhalfofthevotingrightsbutnotcontrollingtheinvestee:
NoneBasisfortheimportantstructuredentitiesincludedinthescopeofconsolidation:
NoneBasisfordeterminingwhethertheCompanyisanagentoraprincipal:
NoneOtherinformation:
None
(2)Majornon-whollyownedsubsidiary
Unit:RMB
| Nameofthesubsidiary | MinorityShareholdingRatio | Profitandlossattributabletominorityshareholdersinthecurrentperiod | Dividendsdeclaredtominorityshareholdersinthecurrentperiod | Thebalanceofminorityshareholders’equityattheendoftheperiod |
Explanationforthedifferencesbetweentheratiooftheminorityshareholders’shareholdingandthevotingrightsratio:
None
(3)Majorfinancialinformationofimportantnon-whollyownedsubsidiaries
Unit:RMB
| Nameofthesubsidiary | Closingbalance | OpeningBalance | ||||||||||
| Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | TotalLiabilities | Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | TotalLiabilities | |
Unit:RMB
| Nameofthesubsidiary | Amountforthecurrentperiod | Amountforthepreviousperiod | ||||||
| Operatingincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperatingactivities | Operatingincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperatingactivities | |
(4)SignificantrestrictionsontheuseofcorporategroupassetsandthesettlementofcorporategroupdebtsNone
(5)FinancialsupportorothersupportprovidedtostructuredentitiesincludedinthescopeofconsolidatedfinancialstatementsNone
2.Changesintheownershipshareofthesubsidiaryandstillcontrollingthesubsidiary’stransactions
(1)ExplanationofchangesintheownershipshareofsubsidiariesNone
(2)Impactofthetransactionontheequityofminorityshareholdersandtheequityattributabletotheparentcompany
Unit:RMB
3.Interestsinjointarrangementsorjointventures
(1)Significantjointventuresandassociates
| Nameofjointventuresandassociates | Theprincipalplaceofbusiness | Theplaceofregistration | Businessnature | Shareholdingratio | Accountingtreatmentofinvestmentinjointventuresorassociates | |
| Direct | Indirect | |||||
Explanationofthedifferencesbetweentheshareholdingratioinajointventureoranassociateandthatofthevotingrightsratio:
Basisforthecaseofholdinglessthan20%ofthevotingrightsbuthavingsignificantinfluence,orholding20%ormoreofthevotingrightsbutnothavingsignificantinfluence:
(2)Mainfinancialinformationofimportantjointventures
Unit:RMB
| Closingbalance/Amountforthecurrentperiod | OpeningBalance/Amountforthepreviousperiod |
(3)Mainfinancialinformationofimportantassociates
Unit:RMB
| Closingbalance/Amountforthecurrentperiod | OpeningBalance/Amountforthepreviousperiod |
(4)Summaryfinancialinformationofunimportantjointventuresandassociates
Unit:RMB
| Closingbalance/Amountforthecurrentperiod | OpeningBalance/Amountforthepreviousperiod | |
| Jointventures: | -- | -- |
| Totalofthefollowingitemscalculatedbyshareholdingratio | -- | -- |
| Associates: | -- | -- |
| Totalofthefollowingitemscalculatedby | -- | -- |
Otherinformation:
(5)ExplanationofsignificantrestrictionsontheabilityofjointventuresorassociatestotransferfundstotheCompany
(6)Excesslossesincurredbyjointventuresorassociates
Unit:RMB
shareholdingratioNameofjointventuresor
associates
| Nameofjointventuresorassociates | Unrecognizedlossaccumulatedinthepreviousperiod | Unrecognizedlossinthecurrentperiod(ornetprofitsharedinthecurrentperiod) | Accumulatedunrecognizedlossattheendoftheperiod |
Otherinformation:
(7)Unconfirmedcommitmentsrelatedtojointventureinvestment
(8)Contingentliabilitiesrelatedtoinvestmentinjointventuresorassociates
4.Importantjointbusiness
| Nameofjointbusiness | Theprincipalplaceofbusiness | Theplaceofregistration | Businessnature | Shareholdingratio/shares | |
| Direct | Indirect | ||||
Explanationofthedifferencesoftheshareholdingratioorthesharesenjoyedinthejointoperationfromthatofthevotingrights:
Basisforclassificationasajointoperationifthejointoperationisaseparateentity:
Otherinformation:
5.EquityinstructuredentitiesnotincludedinthescopeofconsolidatedfinancialstatementsExplanationofstructuredentitiesnotincludedinthescopeofconsolidatedfinancialstatements:
6.OthersSectionX.RisksAssociatedwithFinancialInstruments
1.ClassificationoffinancialinstrumentsTheCompany’smainfinancialinstrumentsincludemonetaryfunds,transactionalfinancialassets,accountsreceivable,otherreceivables,debtinvestments,otherequityinvestment,andothernon-currentfinancialassets,etc.TherisksassociatedwiththesefinancialinstrumentsandtheriskmanagementpoliciesadoptedbytheCompanytoreducetheserisksaredescribedbelow.TheCompany’smanagementmanagesandmonitorstheseriskexposurestoensurethattherisksareconfinedtoadefinedrange.Riskmanagementobjectivesandpolicies:TheCompany’sriskmanagementistostrikeanappropriatebalancebetweenrisksandbenefits,minimizethenegativeimpactofrisksontheCompany’sbusinessperformanceandmaximizetheinterestsofshareholdersandotherequityinvestors.Basedonthisriskmanagementobjective,thebasicstrategyoftheCompany’sriskmanagementistodetermineandanalyzevariousrisksfacedbytheCompany,
establishanappropriatebottomlineforrisktolerance,makeriskmanagementandtimelyandreliablysuperviseandconfinevariousriskstoadefinedrange.ThemainriskscausedbytheCompany’sfinancialinstrumentsarecreditrisk,liquidityriskandmarketrisk..
1.1Bookvalueofvariousfinancialassetsonthebalancesheetdate
(1)June30,2021
Unit:RMB
| Item | Financialassetsmeasuredatamortizedcost | Financialassetsmeasuredatfairvalueandwithvariationreckonedintocurrentgains/losses | Financialassetsmeasuredatfairvalueandwithvariationreckonedintoothercomprehensiveincome | Total |
| Monetaryfunds | 3,560,568,685.18 | 3,560,568,685.18 | ||
| Transactionalfinancialassets | 178,565,832.93 | 178,565,832.93 | ||
| Accountsreceivable | 32,423,539.80 | 32,423,539.80 | ||
| Otherreceivables | 382,044,846.69 | 382,044,846.69 | ||
| Non-currentassetsduewithinoneyear | 20,027,866.69 | 20,027,866.69 | ||
| Othercurrentassets | 912,743,507.12 | 912,743,507.12 | ||
| Investmentinotherequityinstruments | 152,800,000.00 | 152,800,000.00 | ||
| Othernon-currentfinancialassets | 210,299,205.48 | 210,299,205.48 |
(2)January1,2021
Unit:RMB
| Item | Financialassetsmeasuredatamortizedcost | Financialassetsmeasuredatfairvalueandwithvariationreckonedintocurrentgains/losses | Financialassetsmeasuredatfairvalueandwithvariationreckonedintoothercomprehensiveincome | Total |
| Monetaryfunds | 5,950,395,089.12 | 5,950,395,089.12 | ||
| Transactionalfinancialassets | 983,205,858.25 | 983,205,858.25 | ||
| Accountsreceivable | 21,493,637.66 | 21,493,637.66 |
| Otherreceivables | 304,318,966.20 | 304,318,966.20 | ||
| Non-currentassetsduewithinoneyear | 1,985,873,462.75 | 1,985,873,462.75 | ||
| Othercurrentassets | 41,832,345.30 | 41,832,345.30 | ||
| Investmentinotherequityinstruments | 152,800,000.00 | 152,800,000.00 | ||
| Othernon-currentfinancialassets | 208,450,315.01 | 208,450,315.01 |
1.2Bookvalueofvariousfinancialassetsonthebalancesheetdate
(1)June30,2021
Unit:RMB
| Item | Financialliabilitiesmeasuredatfairvalueandwithvariationreckonedintocurrentgains/losses | Otherfinancialliabilities | Total |
| Short-termborrowings | 3,875,201,272.25 | 3,875,201,272.25 | |
| Accountspayable | 149,870,791.22 | 149,870,791.22 | |
| Otherpayables | 51,658,574.07 | 51,658,574.07 |
(2)January1,2021
Unit:RMB
| Item | Financialliabilitiesmeasuredatfairvalueandwithvariationreckonedintocurrentgains/losses | Otherfinancialliabilities | Total |
| Short-termborrowings | 3,976,019,329.22 | 3,976,019,329.22 | |
| Accountspayable | 211,824,402.86 | 211,824,402.86 | |
| Otherpayables | 9,479,383.03 | 9,479,383.03 |
2.CreditriskThefinancialassetsoftheCompanyincludemonetaryfunds,transactionalfinancialassets,accountsreceivable,otherreceivables,etc.Thecreditriskofthesefinancialassetsiscausedbythedefaultofthecounterparty.Themaximumriskexposureisequaltothebookamountoftheseinstruments,including:
TheCompany’sworkingcapitalisdepositedinbankswithhighcreditrating,sothecreditriskofworkingcapitalislow.ThebiggestcreditrisktotheCompanyisthebookvalueofaccountsreceivableandotherreceivablesinthe
consolidatedbalancesheet.TheCompanycontinuouslymonitorsthebalanceofaccountsreceivableandotherreceivablestoensurethattheoverallcreditriskofthecompanyisundercontrol.ThequantitativedataoftheCompany’screditriskexposurearisingfromaccountsreceivableandotherreceivablescanbefoundinNoteVII(5)“Accountsreceivable“andNoteVII(8)“Otherreceivables”.
3.LiquidityriskTheCompanyadoptstherevolvingliquidityplantooltomanagetheriskofcapitalshortage.Thefacilityconsidersboththematuritydateofitsfinancialinstrumentsandtheexpectedcashflowgeneratedbythecompany’soperations.ThegoaloftheCompanyistomaintainthebalancebetweenthesustainabilityandflexibilityoffinancingthroughavarietyoffinancinginstruments,includingbankloansandotherinterest-bearingloans.Whenmanagingliquidityrisks,theCompanyshallmaintainsufficientcashandcashequivalentsasdeemedbythemanagementandmonitorthemtomeettheCompany’soperationalneedsandreducetheimpactofcashflowfluctuations.Themanagementsmonitortheuseofbankloansandensurecompliancewithloanagreements.Maturityanalysisoffinancialliabilitiesbasedonundiscountedcontractcashflow:
Unit:RMB
| Item | June30,2021 | |||
| Within1year | 1-5years | Over5years | Total | |
| Short-termborrowings | 3,875,201,272.25 | 3,875,201,272.25 | ||
| Accountspayable | 149,870,791.22 | 149,870,791.22 | ||
| Otherpayables | 51,658,574.07 | 51,658,574.07 | ||
Continuedtable:
Unit:RMB
| Item | January1,2021 | |||
| Within1year | 1-5years | Over5years | Total | |
| Short-termborrowings | 3,976,019,329.22 | 3,976,019,329.22 | ||
| Accountspayable | 211,824,402.86 | 211,824,402.86 | ||
| Otherpayables | 9,479,383.03 | 9,479,383.03 | ||
4.MarketriskMarketriskreferstotheriskthatthefairvalueoffinancialinstrumentsorfuturecashflowfluctuatesduetochangesinmarketprices,includinginterestrateriskandforeigncurrencyrisk.
4.1.InterestrateriskNone
4.2.ExchangerateriskNoneSectionXI.FairValueDisclosure
1.Thefinancialassetsandfinancialliabilitiesmeasuredatfairvalueattheendofthereportingperiod
Unit:RMB
| Item | Closingfairvalue | |||
| Level1 | Level2 | Level3 | Total | |
| I.Continuousfairvaluemeasurement | -- | -- | -- | -- |
| 1.Transactionalfinancialasset | 350,815,038.41 | 38,050,000.00 | 388,865,038.41 | |
| (1)Financialassetatfairvaluethroughprofitorloss | 350,815,038.41 | 38,050,000.00 | 388,865,038.41 | |
| ①Debtinstruments | 350,815,038.41 | 38,050,000.00 | 388,865,038.41 | |
| 3.Otherequityinstruments | 152,800,000.00 | 152,800,000.00 | ||
| Totalassetsmeasuredcontinuouslyatfairvalue | 350,815,038.41 | 190,850,000.00 | 541,665,038.41 | |
| II.Non-continuousfairvaluemeasurement | -- | -- | -- | -- |
2.Thebasisfordeterminingthemarketpriceofsustainableandnon-sustainablefairvaluemeasurementitemsatthefirstlevelNone.
3.Informationonthevaluationtechniqueandqualitativeandquantitativeforimportantparametersadoptedasforsustainableandnon-sustainablesecond-levelfairvaluemeasurementitemsTheCompany’ssustainablesecond-levelfairvaluemeasurementitemsaremainlyfinancialproducts.Thefairvalueisdeterminedbythediscountedcashflowmethodandtheexpectedrateofreturn.
4.Informationonthevaluationtechniqueandqualitativeandquantitativeforimportantparametersadoptedasforsustainableandnon-sustainablethird-levelfairvaluemeasurementitemsTheCompany’ssustainablethird-levelfairvaluemeasurementitemsaremainlynon-tradableequityinstrumentsinvestmentanddebtinstrumentsinvestment.Thefairvalueisdeterminedbymarketmethodandliquiditydiscount.
5.Adjustmentinformationbetweenopeningandclosingbookvalueandsensitivityanalysisofunobservableparametersasforthird-levelfairvaluemeasurementitemsNone.
6.Reasonsfortheconversionbetweendifferentlevelsduringthecurrentperiodandthepolicytodetermine
theconversionpointasforcontinuousfairvaluemeasurementitemsNone.
7.ValuationtechnicalchangesoccurredduringtheperiodandthereasonsforthechangesNone.
8.ThefairvalueoffinancialassetsandfinancialliabilitiesnotmeasuredatfairvalueNone.
9.OthersNone.SectionXII.RelatedPartyandRelatedTransactions
1.ParentcompanyoftheCompany
| NameoftheParentCompany | Placeofregistration | Natureofbusiness | Registeredcapital | Theparentcompany’sshareholdingratiointheCompany | ProportionofvotingrightsoftheparentcompanytotheCompany |
TheCompanyisultimatelycontrolledbyLiYongxinandLuZhongfang.Otherexplanation:
TheCompanyisultimatelycontrolledbyLiYongxinandLuZhongfang.AsofJune30,2021,thecombinedshareholdingofLiYongxinandLuZhongfangaccountedfor61.01%oftheCompany’ssharecapital.
2.SubsidiariesoftheCompanyFordetailsofthesubsidiariesoftheCompany,seeNoteIX(1)“Interestinsubsidiaries”.
3.JointventuresandassociatesoftheCompanyTheimportantjointventuresorassociatesofthecompanyaredetailedinthenotes.TheinformationofotherjointventuresorassociatesthathaverelatedpartytransactionswiththeCompanyinthecurrentperiodorthathaverelatedpartytransactionswiththeCompanyinthepreviousperiodtoformabalanceisasfollows:
| Nameofjointventuresorassociates | RelationshipwiththeCompany |
Otherinformation:
4.OtherrelatedpartiesoftheCompany
| Nameofotherrelatedparties | RelationshipbetweenotherrelatedpartiesandtheCompany |
| LiYongxin | Actualcontroller |
| BeijingQianqiuIntelligenceBook&MediaCo.,Ltd. | Sameultimatecontroller |
| BeijingHaidianOffcnTrainingSchool | Sameultimatecontroller |
| JinanOffcnTrainingSchool | Sameultimatecontroller |
| KunmingWuhuaOffcnTrainingSchool | Sameultimatecontroller |
| BaodingLianchiOffcnTrainingSchool | Sameultimatecontroller |
| BeijingHaidianBaoquanFinancialTrainingCentre | Sameultimatecontroller |
| CangzhouYunheOffcnTrainingSchool | Sameultimatecontroller |
| ChengduWuhouOffcnTrainingSchool | Sameultimatecontroller |
| CifengHongshanOffcnTrainingCentre | Sameultimatecontroller |
| DezhouOffcnTrainingSchool | Sameultimatecontroller |
| HaikouMeilanOffcnTrainingSchool | Sameultimatecontroller |
| HandanCongtaiOffcnTrainingSchool | Sameultimatecontroller |
| HegangOffcnTrainingSchool | Sameultimatecontroller |
| HeiheAihuiOffcnTrainingSchool | Sameultimatecontroller |
| KiamuszeOffcnTrainingSchool | Sameultimatecontroller |
| LeshanShizhongOffcnTrainingSchool | Sameultimatecontroller |
| MudanjiangOffcnTrainingSchool | Sameultimatecontroller |
| QiqiharTiefengOffcnTrainingSchool | Sameultimatecontroller |
| ShaoyangShuangqingOffcnTrainingSchool | Sameultimatecontroller |
| TangshanLunanOffcnTrainingSchool | Sameultimatecontroller |
| WeifangOffcnTraiingSchool | Sameultimatecontroller |
| UrumqiShayibakeOffcnTrainingSchool | Sameultimatecontroller |
| YiyangHeshanOffcnTrainingSchool | Sameultimatecontroller |
| ShenyangLijingPearlHotelManagementCo.,Ltd. | Acompanycontrolledbyourexecutivesandcoreemployees |
| BeijingTaifuHotelManagementCo.,Ltd. | Acompanycontrolledbyourexecutivesandcoreemployees |
| BeijingXingshouFuyuanPlantation | AcompanycontrolledbyXuHua,spouseofLiYongxin,thecontrollingshareholderandactualcontrolleroftheCompany |
| WangZhendong | TheCompany’sdirector/seniormanager/shareholderwhodirectlyholdmorethan5%(including5%)oftheCompany’sshares |
| ShiLei | DirectoroftheCompany |
| YiZiting | DirectoroftheCompany |
| WangQiang | IndependentdirectoroftheCompany |
| TongYan | IndependentdirectoroftheCompany |
| ZhangXuanming | IndependentdirectoroftheCompany |
| YuHongwei | SupervisoroftheCompany |
| LiWen | SupervisoroftheCompany |
| HeDi | SupervisoroftheCompany |
| WangXuejun | SeniormanagementoftheCompany |
| HeYouli | SeniormanagementoftheCompany |
| GuiHongzhi | SeniormanagementoftheCompany |
| LuoXue | SeniormanagementoftheCompany |
| LiLin | CoretechniquestaffoftheCompany |
| LiuYan | CoretechniquestaffoftheCompany |
| ZhangHongjun | CoretechniquestaffoftheCompany |
Otherinformation:
5.Related-partytransactions
(1)Relatedtransactionsinthepurchaseandsaleofgoods,provisionandreceiptoflaborservicesTableoftheprocurementofgoods/acceptanceoflaborservices
Unit:RMB
| Relatedparties | Contentofrelatedpartytransaction | Amountforthecurrentperiod | Transactionamountgranted | Whetheritexceedsthetransactionlimit(Y/N) | Amountforthepreviousperiod |
| BeijingTaifuHotelManagementCo.,Ltd. | Accommodationandcateringservices | 11,802,340.00 | 40,000,000.00 | N | 8,245,500.00 |
| BaodingLianchiOffcnTrainingSchool | Jointschoolrunning | 50,000.00 | N | 30,000.00 | |
| CangzhouYunheOffcnTrainingSchool | Jointschoolrunning | 50,000.00 | N | 30,000.00 | |
| ChengduWuhouOffcnTrainingSchool | Jointschoolrunning | 50,000.00 | N | 40,000.00 | |
| HandanCongtaiOffcnTrainingSchool | Jointschoolrunning | 50,000.00 | N | 30,000.00 | |
| HeiheAihuiOffcnTrainingCenter | Jointschoolrunning | 31,500.00 | N | 36,998.00 | |
| KiamuszeOffcnTrainingSchool | Jointschoolrunning | 30,000.00 | N | 24,000.00 | |
| LeshanShizhongOffcnTrainingSchool | Jointschoolrunning | 40,000.00 | N | 35,000.00 | |
| MudanjiangOffcnTrainingSchool | Jointschool | 27,500.00 | N | 22,800.00 |
| running | |||||
| QiqiharTiefengOffcnTrainingSchool | Jointschoolrunning | 0.00 | N | 47,800.00 | |
| TangshanLunanOffcnTrainingSchool | Jointschoolrunning | 50,000.00 | N | 30,000.00 | |
| WeifangOffcnTrainingSchool | Jointschoolrunning | 0.00 | N | 71,100.00 | |
| YiyangHeshanOffcnTrainingSchool | Jointschoolrunning | 0.00 | N | 50,000.00 | |
| HaikouMeilanOffcnTrainingSchool | Jointschoolrunning | 0.00 | N | 20,000.00 | |
| ZhanjiangXiashanOffcnTrainingCenter | Jointschoolrunning | 140,000.00 | N | 0.00 | |
| ShaoyangShuangqingOffcnTrainingSchool | Jointschoolrunning | 60,000.00 | N | 0.00 | |
| UrumqiShayibakeOffcnTrainingCenter | Jointschoolrunning | 143,500.00 | N | 0.00 |
Salesofgoods/Tableofprovisionofservices
Unit:RMB
| Relatedparties | Contentofrelatedpartytransaction | Amountforthecurrentperiod | Amountforthepreviousperiod |
| BeijingQianqiuIntelligenceBook&MediaCo.,Ltd. | Exhibitionservices | 1,435,849.06 | 1,179,245.28 |
Explanationsfortheprocurementandsalesofgoodsandrenderingandreceivingservice:
None
(2)Relatedfiduciarymanagement/contractingandentrustedmanagement/outsourcingThetableoftheCompany’sfiduciarymanagement/contracting:
Unit:RMB
| Nameofentruster/outsourcer | Nameoftrustee/contractor | Type | Startdate | TerminationDate | Thepricingbasisofcustodyincome/contractingincome | Recognizedcustodyincome/contractingincomeforthecurrentperiod |
| LiYongxin | OffcnLtd. | 33privateschools | October19,2018 | Allreasonablereturnsontheentrustedassets |
Explanationsforrelatedentrustmentandcontracting:
NoneThetableoftheCompany’sentrustedmanagementandoutsourcing
Unit:RMB
| Nameofentruster/outsourcer | Nameoftrustee/contractor | Type | Startdate | TerminationDate | Pricingbasisforcustody/outsourcingfee | Custody/outsourcingfeeconfirmedinthisperiod |
ExplanationsforrelatedmanagementandoutsourcingNone.
(3)RelatedleaseTheCompanyasthelessor:
Unit:RMB
| Nameoflessee | Category | Rentalincomerecognizedforthecurrentperiod | Rentalincomerecognizedforthepreviousperiod |
TheCompanyasthelessee:
Unit:RMB
| Nameoflessor | Category | Rentalfeerecognizedforthecurrentperiod | Rentalfeerecognizedforthepreviousperiod |
| ShenyangLijingPearlHotelManagementCo.,Ltd. | Operatinglease | 25,030,700.00 | 25,030,700.00 |
ExplanationsofrelatedleaseNone
(4)RelatedguaranteesTheCompanyastheguarantor
Unit:RMB
| Guaranteedparty | Guaranteeamount | Guaranteestartdate | Guaranteeexpirationdate | Whethertheguaranteehasbeenfulfilled |
TheCompanyastheguaranteedparty
Unit:RMB
| Guarantor | Guaranteeamount | Guaranteestartdate | Guaranteeexpiration | Whethertheguarantee |
| date | hasbeenfulfilled |
Explanationsofrelatedguarantees
(5)Borrowingfromrelatedparties
Unit:RMB
| Relatedparty | Amount | Startdate | Expirationdate | Description |
| Borrowed: | ||||
| Lent: | ||||
(6)Relatedpartiesofassetstransferanddebtrestructuring
Unit:RMB
| Relatedparty | related-partytransactioncontent | Amountforthecurrentperiod | Amountforthepreviousperiod |
(7)Remunerationforkeymanagementpersonnel
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Remunerationforkeymanagementpersonnel | 3,190,424.12 | 3,189,135.48 |
(8)OtherrelatedtransactionsNone
6.Receivablesandpayablesofrelatedparties
(1)Receivables
Unit:RMB
| Item | Relatedparty | Closingbalance | Openingbalance | ||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | ||
| Accountsreceivables | BeijingQianqiuIntelligenceBook&MediaCo.,Ltd. | 1,522,000.00 | 76,100.00 | ||
| Otherreceivables | ShenyangLijingMingzhuHotelManagementCo.,Ltd. | 5,675,200.00 | 5,675,200.00 | ||
| Total | 7,197,200.00 | 76,100.00 | 5,675,200.00 | ||
(2)Payables
Unit:RMB
| Item | Relatedparty | Closingbookbalance | Openingbookbalance |
7.CommitmentsofrelatedpartiesFordetailsofthecommitmentsofrelatedparties,pleaserefertoNoteXIV(1)“Importantcommitments”.
8.OthersNoneSectionXIII.Share-basedpayment
1.Overviewofshare-basedpayment
□Applicable√Notapplicable
2.Equity-settledsharepayments
□Applicable√Notapplicable
3.Share-basedpaymentthroughcashsettlements
□Applicable√Notapplicable
4.Modificationandterminationofshare-basedpaymentNone
5.OthersNoneSectionXIV.Commitmentsandcontingencies
1.ImportantcommitmentsImportantcommitmentsonbalancesheetdate
2.Contingencies
(1)Importantcontingenciesonbalancesheetdate
(2)WhethertheCompanyhasimportantcontingenciesthatneedtobedisclosedandtheexplanations:
TheCompanyhasnoimportantcontingenciesthatneedtobedisclosed.
3.OthersNone.SectionXV.Matterssubsequenttothebalancesheetdate
1.Significantunadjustedmatters
Unit:RMB
| Item | Content | Cumulativeimpactsonthefinancialstatusandoperatingresults | Causeoffailureinmeasuringcumulativeimpacts |
2.Profitdistribution
Unit:RMB
| Profitsordividendstobedistributed |
| Profitsordividendsdistributedafterapproval |
3.Salesreturn
4.OthermatterssubsequenttothebalancesheetdateSectionXVI.Otherimportantmatters
1.Correctionsofaccountingerrorsofpreviousperiod
(1)Retrospectiverestatement
Unit:RMB
| Correctionsofaccountingerrors | Processingprocedures | statementsitemoftheaffectedcomparisonperiod | Cumulativeimpact |
(2)Prospectiveapplication
| Correctionsofaccountingerrors | Approvalprocedure | Reasonsforadoptingprospectiveapplication |
2.Debtrestructuring
3.Assetsexchange
(1)Non-monetaryassetexchange
(2)Otherassetsexchange
4.Pensionplan
5.Discontinuedoperations
Unit:RMB
| Item | Revenue | Expense | Totalprofit | Incometaxexpenses | Netprofit | Profitofdiscontinuedoperationsattributabletotheowneroftheparentcompany |
Otherinformation:
6.Informationofsegments
(1)BasisfordeterminationofreportsegmentandaccountingpolicyTheCompany’smainproductionandoperationactivitiesaredecidedbytheCompany,whichismainlyengagedineducationandtrainingbusiness.Therefore,theCompanyismanagedasanoperatingsegment.Foraccountingpolicies,pleaserefertoNoteVofthisreport—TheCompany’sSignificantAccountingPoliciesandAccountingEstimates.
(2)Financialinformationofthereportingsegment
Unit:RMB
| Item | Inter-segmentoffset | Total |
(3)IftheCompanyhasnoreportingsegment,orcannotdisclosethetotalassetsandliabilitiesofeachsegment,thereasonsshallbeclarified.
(4)Otherstatements
①Revenuefromexternaltransactionsforeachproductandserviceoreachsimilarproductandservice.
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Mainbusiness | 4,828,531,538.19 | 2,788,186,999.66 |
| Including:Educationandtraining | 4,828,531,538.19 | 2,788,186,999.66 |
| Otherbusinesses | 27,466,725.31 | 19,793,480.94 |
| Total | 4,855,998,263.50 | 2,807,980,480.60 |
②TotalforeigntransactionincomeobtainedbytheCompanyfromitsowncountryandfromothercountriesorregions.
Unit:RMB
| Area | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Domesticarea | 4,855,998,263.50 | 2,807,980,480.60 |
| Total | 4,855,998,263.50 | 2,807,980,480.60 |
7.Otherimportanttransactionsandeventshavingimpactsondecisionsofinvestors
8.OthersNoneSectionXVII.Notestotheparentcompany’sfinancialstatements
1.Receivables
1.1Classifieddisclosureofreceivables
Unit:RMB
| Item | Closingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
| Amount | Proportion | Amount | Proportion | Amount | Proportion | Amount | Proportion | |||
| Including: | ||||||||||
| Accountsreceivable | 23,211,26 | 100.00 | 1,542, | 5.00% | 21,668, | 15,570, | 100.00 | 778,543 | 5.00% | 14,792,32 |
| forwhichbaddebtprovisionhasbeenassessedbycreditriskportfolios | 3.03 | % | 583.12 | 679.91 | 863.56 | % | .18 | 0.38 | ||
| Including: | ||||||||||
| Combination3 | 23,211,263.03 | 100.00% | 1,542,583.12 | 5.00% | 21,668,679.91 | 15,570,863.56 | 100.00% | 778,543.18 | 5.00% | 14,792,320.38 |
| Total | 23,211,263.03 | 100.00% | 1,542,583.12 | 21,668,679.91 | 15,570,863.56 | 100.00% | 778,543.18 | 14,792,320.38 |
Baddebtsprovisiononasingleitembasis:
Unit:RMB
| Item | Closingbalance | |||
| Bookbalance | Baddebtprovision | Proportion | Reasons | |
Baddebtprovisionassessedbycreditriskportfolios:1,542,583.12
Unit:RMB
| Item | Closingbalance | ||
| Bookbalance | Baddebtprovision | Proportion | |
| Combination3 | 23,211,263.03 | 1,542,583.12 | 5.00% |
| Total | 23,211,263.03 | 1,542,583.12 | -- |
Explanationsforthedeterminingbasisoftheportfolios:
NoneBaddebtprovisionassessedbycreditriskportfolios:
Unit:RMB
| Item | Closingbalance | ||
| Bookbalance | Baddebtprovision | Proportion | |
ExplanationsofthebasisfordeterminingtheportfoliosNoneBaddebtprovisionassessedbycreditriskportfolios:
Unit:RMB
| Item | Closingbalance | ||
| Bookbalance | Baddebtprovision | Proportion | |
Explanationsofthebasisfordeterminingtheportfolios
Ifthebaddebtprovisionofaccountsreceivableisbasedonthegeneralmodelofexpectedcreditloss,pleaserefertothedisclosuremethodsofotherreceivablestodisclosetherelevantinformationofbaddebtprovision:
□Applicable√NotapplicableDisclosurebyaccountage
Unit:RMB
| Accountage | Closingbalance |
| Within1year(included) | 15,570,863.62 |
| 1-2years | 7,640,399.41 |
| Total | 23,211,263.03 |
1.2Provision,recoveryorreversalofbaddebtsincurrentperiodProvisionofbaddebtsincurrentperiod:
Unit:RMB
| Category | Openingbalance | Changesinthecurrentperiod | Closingbalance | |||
| Provision | Recoveryorreversal | Written-off | Others | |||
| Baddebtsofaccountsreceivable | 778,543.18 | 764,039.94 | 1,542,583.12 | |||
| Total | 778,543.18 | 764,039.94 | 1,542,583.12 | |||
Significantamountofrecoveryorreversalofbaddebtsincurrentperiod:
Unit:RMB
| Nameofinstitutions | Amountofrecoveryorreversal | Recoverymethod |
None
1.3Receivableswritten-offincurrentperiod
Unit:RMB
| Item | Written-offamount |
Importantreceivableswritten-off:
Unit:RMB
| Creditor | Natureofreceivables | Written-offamount | Reasonsforwritten-off | Implementedwritten-offprocedure | Whethergeneratedfromrelatedtransactions |
Statementofreceivableswritten-off:
None
1.4Accountsreceivablesofthetopfivedebtorsbasedontheendingbalance
Unit:RMB
| Creditor | Closingbalancereceivables | Proportionintotalclosingbalancereceivables | Closingbalanceofbaddebtprovision |
| YaxiaIndustrial | 23,211,263.03 | 100.00% | 1,542,583.12 |
| Total | 23,211,263.03 | 100.00% |
1.5ReceivablesderecognizedduetothetransferoffinancialassetsNone
1.6AmountofassetsandliabilitiesformedbytransferringaccountsreceivableandcontinuinginvolvementNoneOtherinformation:
None
2.Otherreceivables
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Otherreceivables | 528,158,760.42 | 621,900,443.29 |
| Total | 528,158,760.42 | 621,900,443.29 |
2.1Interestreceivables
(1)Classificationofinterestreceivables
Unit:RMB
| Item | Closingbalance | Openingbalance |
(2)Importantoverdueinterest
| Borrower | Closingbalance | Time | Reason | Whetherimpairmentoccursandthejudgmentbasis |
Otherinformation:
None
(3)Baddebtprovision
□Applicable√Notapplicable
2.2Dividendsreceivables
(1)Classificationofdividendsreceivables
Unit:RMB
| Project(orinvestee) | Closingbalance | Openingbalance |
(2)Importantdividendreceivableswithaccountageover1year
Unit:RMB
| Project(orinvestee) | Closingbalance | Aging | Causeofrecoveryfailure | Whetherimpairmentoccursandthejudgmentbasis |
(3)Baddebtprovision
□Applicable√NotapplicableOtherinformation:
2.3Otherreceivables
(1)Classificationofotherreceivablesbynature
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Currentpayment | 528,153,160.42 | 621,894,843.29 |
| Depositsandguarantees | 5,600.00 | 5,600.00 |
| Total | 528,158,760.42 | 621,900,443.29 |
(2)Baddebtprovision
Unit:RMB
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Total |
| Expectedcreditlossinthenext12months | Expectedcreditlossinthewholeduration(nocreditimpairment). | Expectedcreditlossinthewholeduration(creditimpairmenthasoccurred) |
Changesinthebookbalancewithsignificantchangesinthelossprovisionforthecurrentperiod
□Applicable√NotapplicableDisclosurebyaccountage
Unit:RMB
| Accountage | Closingbalance |
| Within1year(included) | 509,697,034.59 |
| 1to2years | 10,074,543.47 |
| 2to3years | 8,387,182.36 |
| Total | 528,158,760.42 |
(3)Provision,recoveryorreversalofbaddebtincurrentperiodBaddebtprovisionincurrentperiod
Unit:RMB
| Item | Openingbalance | Changesinthecurrentperiod | Closingbalance | |||
| Provision | Recoveryor | Written-off | Others | |||
Importantrecoveryorreversalofbaddebtincurrentperiod:
Unit:RMB
reversal
Creditor
| Creditor | Amountofrecoveryorreversal | Recoverymethod |
None
(4)Otherreceivableswrittenoffincurrentperiod
Unit:RMB
| Item | Written-offamount |
Importantotherreceivableswritten-off:
Unit:RMB
| Creditor | Natureofotherreceivables | Written-offamount | ReasonforWritten-off | Implementedwritten-offprocedure | Whethergeneratedfromrelatedtransactions |
Explanationofotherreceivableswritten-off:
None
(5)Otherreceivablesofthetopfivedebtorsbasedontheendingbalance
Unit:RMB
| Creditor | Natureofreceivable | Closingbalance | Accountage | Proportionintotalclosingbalanceofotherreceivables | Closingbalanceofbaddebtprovision |
| OffcnLtd. | Currentpayment | 508,588,562.61 | Within1year | 96.29% | |
| BozhouYaxiaAutomobileDriverTrainingSchoolCo.,Ltd. | Currentpayment | 10,263,170.68 | Within2years(including2years) | 1.94% | |
| WuhuYaweiAutomobileSalesServiceCo.,Ltd | Currentpayment | 3,619,677.02 | Within2years(including2years) | 0.69% | |
| SuzhouBokaiAutomobileSalesServicesCo.,Ltd. | Currentpayment | 3,223,466.22 | Within2years(including2years) | 0.61% | |
| HuangshanYaxiaFudiAutomobileSalesServicesCo.,Ltd. | Currentpayment | 1,989,506.93 | Within2years(including2years) | 0.38% | |
| Total | -- | 527,684,383.46 | -- | 99.91% |
(6)Receivablesrelatedtogovernmentsubsidies
Unit:RMB
| Nameofinstitutions | Governmentsubsidies | Closingbalance | Closingaging | Time,amountandbasisofexpectedcollection |
None
(7)OtherreceivablesderecognizedduetothetransferoffinancialassetsNone
(8)AssetsandliabilitiesarisingfromtransferringotherreceivablesandcontinuingtobeinvolvedNone
3.Long-termequityinvestment
Unit:RMB
| Item | Closingbalance | Openingbalance | |||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | ||
| Investmentinsubsidiaries | 18,582,307,907.14 | 18,582,307,907.14 | 18,582,307,907.14 | 18,582,307,907.14 | |||
| Total | 18,582,307,907.14 | 18,582,307,907.14 | 18,582,307,907.14 | 18,582,307,907.14 | |||
3.1Investmentinsubsidiaries
Unit:RMB
| Investee | Openingbalance(Bookvalue) | Increaseanddecreaseincurrentperiod | Closingbalance(Bookvalue) | Closingbalanceofprovisionforimpairment | |||
| Additionalinvestment | Investmentreduction | Provisionforimpairment | Others | ||||
| OffcnLtd. | 18,500,000,000.00 | 18,500,000,000.00 | |||||
| WuhuYaweiAutomobileSalesServiceCo.,Ltd | 23,000,000.00 | 23,000,000.00 | |||||
| NingguoYaxiaMotorVehicleDriverTrainingSchool(Co.,Ltd.) | 17,474,782.14 | 17,474,782.14 | |||||
| HuangshanYaxiaFudiAutomobileSalesServicesCo.,Ltd. | 5,000,000.00 | 5,000,000.00 | |||||
| ChaohuYaxiaKaixuanAutomobileSalesServiceCo.,Ltd. | 5,000,000.00 | 5,000,000.00 | |||||
| BozhouYaxiaMotorVehicleDriverTrainingSchoolCo., | 20,000,000.00 | 20,000,000.00 | |||||
| Ltd. | |||
| SuzhouBokaiAutomobileSalesServiceCo.,Ltd. | 11,833,125.00 | 11,833,125.00 | |
| Total | 18,582,307,907.14 | 18,582,307,907.14 |
3.2Investmentinassociatedenterprisesandjointventures
Unit:RMB
| Investor | Openingbalance(Bookvalue) | Increaseanddecreaseincurrentperiod | Closingbalance(Bookvalue) | Closingbalanceofprovisionforimpairment | |||||||
| Additionalinvestment | Investmentreduction | Investmentgainsandlossesrecognizedundertheequitymethod | OtherComprehensiveincomeadjustment | OtherEquitychanges | Declaredcashdividendsorprofits | Provisionforimpairment | Others | ||||
3.3OtherstatementsNone
4.Revenueandoperatingcost
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod | ||
| Revenue | Operatingcost | Revenue | Operatingcost | |
| Otherbusiness | 7,278,174.71 | 5,632,943.03 | 7,276,570.86 | 5,667,932.11 |
| Total | 7,278,174.71 | 5,632,943.03 | 7,276,570.86 | 5,667,932.11 |
Incomerelatedinformation:
Unit:RMB
| ContractClassification | Segment1 | Segment2 | Total | |
| Inc: | ||||
| Inc: | ||||
| Inc: | ||||
| Inc: |
| Inc: |
| Inc: |
| Inc: |
Obligationperformancerelatedinformation:
NoneInformationrelatedtothetransactionpriceallocatedtotheremainingperformanceobligations:
Theincomefromtheunfulfilledoruncompletedobligationwithsignedcontractsattheendofthereportingperiod:
RMB0.00.Otherinformation:
None
5.Investmentincome
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Dividendincomefromholdingotherequityinstrumentinvestments | 1,327,872.00 | |
| Financingincome | 2,630.21 | |
| Total | 1,330,502.21 |
6.OthersNoneSectionXVIII.Supplementaryinformation
1.Detailsofcurrentnon-recurringgainsandlosses
√Applicable□Notapplicable
Unit:RMB
| Item | Amount | Explanation |
| Profitsorlossesfromthedisposalofnon-currentassets | -168,828.03 | |
| Governmentsubsidiesincludedinthecurrentprofitandloss(exceptthegovernmentsubsidiescloselyrelatedtothebusinessoftheenterprise,andfixedorquantifiedinaccordancewithnationalunified | 1,430,028.70 | |
| Profitorlossfromentrustingotherstoinvestormanageassets | 28,910,968.77 | |
| InadditiontotheeffectivehedgingbusinessrelatedtotheCompany’snormalbusinessoperations,gainsandlossesfromthechangesinthefairvalueoftheholdingoffinancialassetsheldfortrading,derivativefinancialassets,financialliabilitiesheldfortrading,andderivativefinancialliabilities,andtheinvestmentincomefromthedisposaloffinancialassetsheldfortrading,derivativefinancialassets,financialliabilitiesheldfortrading,derivativefinancialliabilitiesandotherdebtinvestments | 9,068,865.15 | |
| Non-operatingincomeandexpensesotherthantheabove | -311,355.41 |
| Otherprofitandlossitemsinlinewiththedefinitionofnon-recurringprofitandloss | 45,101,048.40 | |
| Less：Amountimpactedbyincometax | 11,288,212.83 | |
| Total | 72,742,514.75 | -- |
Providestatementsforclassifyingnon-recurringprofitandlossitemsdefinedorlistedintheExplanatoryAnnouncementNo.1forInformationDisclosuresoftheCompanyIssuingSecuritiesPublicly—Non-recurringProfitsandLosses,andforclassifyingnon-recurringprofitandlossitemslistedintheExplanatoryAnnouncementNo.1forInformationDisclosuresoftheCompanyIssuingSecuritiesPublicly—Non-recurringProfitsandLossesasrecurringprofitandlossitems.
□Applicable√Notapplicable
2.Returnonequityandearningspershare
| Profitinthereportingperiod | Weightedaveragereturnonnetassets(%) | Earningspershare | |
| Basicearningspershare(RMB/share) | Dilutedearningspershare(RMB/share) | ||
| NetprofitattributabletocommonshareholdersoftheCompany | -2.30% | -0.02 | -0.02 |
| NetprofitattributabletocommonshareholdersoftheCompanyafterdeductingnon-recurringgainsandlosses | -4.02% | -0.03 | -0.03 |
3.Differencesinaccountingdataunderdomesticandoverseasaccountingstandards
(1)DifferencesinnetprofitandnetassetsinfinancialreportsdisclosedinaccordancewithbothinternationalaccountingstandardsandChineseaccountingstandards
□Applicable√Notapplicable
(2)DifferencesinthefinancialreportofnetprofitsandnetassetsdisclosedbyOverseasAccountingStandardsandChinaAccountingStandards
□Applicable√Notapplicable
(3)Explanationofthedifferencesinaccountingdataunderdomesticandoverseasaccountingstandards.NamesofoverseasinstitutionsshallbeindicatedifdifferenceadjustmentsofdatafromoverseasauditinstitutionsareconductedNone
4.OthersNone