CHANGCHAICOMPANY,LIMITED
INTERIMREPORT2020
July2020
PartIImportantNotes,TableofContentsandDefinitions
TheBoardofDirectors(orthe“Board”),theSupervisoryCommitteeaswellasthedirectors,supervisorsandseniormanagementofChangchaiCompany,Limited(hereinafterreferredtoasthe“Company”)herebyguaranteethetruthfulness,accuracyandcompletenessofthecontentsofthisReportanditssummary,andshallbejointlyandseverallyliableforanymisrepresentations,misleadingstatementsormaterialomissionstherein.ShiXinkun,theCompany’slegalrepresentative,ZhangXin,theCompany’sGeneralManager,andJiangHe,headoftheCompany’sfinancialdepartment(equivalenttofinancialmanager)herebyguaranteethattheFinancialStatementscarriedinthisReportaretruthful,accurateandcomplete.AlltheCompany’sdirectorshaveattendedtheBoardmeetingforthereviewofthisReportanditssummary.Anyplansforthefutureorotherforward-lookingstatementsmentionedinthisReportanditssummaryshallNOTbeconsideredaspromisestoinvestors.Investorsandotherstakeholdersshallbesufficientlyawareoftheriskandshalldifferentiatebetweenplans/forecastsandpromises.TheCompanyhasnointerimdividendplan,eitherintheformofcashorstock.ThisReportanditssummaryhavebeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionsshallprevail.
TableofContents
PartIImportantNotes,TableofContentsandDefinitions ...... 2
PartIICorporateInformationandKeyFinancialInformation ...... 5
PartIIIBusinessSummary ...... 9
PartIVOperatingPerformanceDiscussionandAnalysis ...... 12
PartVSignificantEvents ...... 24
PartVIShareChangesandShareholderInformation ...... 33
PartVIIPreferredShares ...... 39
PartVIIIConvertibleCorporateBonds ...... 40
PartIXDirectors,SupervisorsandSeniorManagement ...... 41
PartXCorporateBonds ...... 43
PartXIFinancialStatements ...... 44
PartXIIDocumentsAvailableforReference ...... 186
Definitions
| Term | Definition |
| “Changchai”,the“Company”or“we” | ChangchaiCompany,Limitedanditsconsolidatedsubsidiaries,exceptwherethecontextotherwiserequires |
| ChangchaiBenniu | ChangzhouChangchaiBenniuDieselEngineFittingsCo.,Ltd. |
| ChangchaiWanzhou | ChangchaiWanzhouDieselEngineCo.,Ltd. |
| HoushengInvestment | ChangzhouHoushengInvestmentCo.,Ltd. |
| HoushengAgriculturalEquipment | ChangzhouChangchaiHoushengAgriculturalEquipmentCo.,Ltd. |
| ChangchaiRobin | ChangzhouFujiChangchaiRobinGasolineEngineCo.,Ltd. |
| ChangchaiMachinery | JiangsuChangchaiMachineryCo.,Ltd. |
| XingshengRealEstateManagement | ChangzhouXingshengRealEstateManagementCo.,Ltd. |
| RMB,RMB’0,000 | ExpressedintheChinesecurrencyofRenminbi,expressedintensofthousandsofRenminbi |
| The“ReportingPeriod”or“CurrentPeriod” | Theperiodfrom1January2020to30June2020 |
PartIICorporateInformationandKeyFinancialInformation
ICorporateInformation
| Stockname | Changchai,Changchai-B | Stockcode | 000570,200570 |
| Stockexchangeforlisting | ShenzhenStockExchange | ||
| CompanynameinChinese | 常柴股份有限公司 | ||
| Abbr.(ifany) | 苏常柴 | ||
| CompanynameinEnglish(ifany) | CHANGCHAICOMPANY,LIMITED | ||
| Abbr.(ifany) | CHANGCHAICO.,LTD. | ||
| Legalrepresentative | ShiXinkun | ||
IIContactInformation
| BoardSecretary | SecuritiesRepresentative | |
| Name | HeJianjiang | |
| Officeaddress | 123HuaideMiddleRoad,Changzhou,Jiangsu,China | |
| Tel. | （86）519-68683155 | |
| Fax | （86）519-86630954 | |
| Emailaddress | cchjj@changchai.com |
IIIOtherInformation
1.ContactInformationoftheCompanyIndicatebytickmarkwhetheranychangeoccurredtotheregisteredaddress,officeaddressandtheirzipcodes,websiteaddressandemailaddressoftheCompanyintheReportingPeriod.
□Applicable√NotapplicableNochangeoccurredtothesaidinformationintheReportingPeriod,whichcanbefoundinthe2019AnnualReport.
2.MediaforInformationDisclosureandPlacewherethisReportisLodgedIndicatebytickmarkwhetheranychangeoccurredtotheinformationdisclosuremediaandtheplaceforlodging
theCompany’speriodicreportsintheReportingPeriod.
□Applicable√NotapplicableThenewspapersdesignatedbytheCompanyforinformationdisclosure,thewebsitedesignatedbytheCSRCfordisclosingtheCompany’speriodicreportsandtheplaceforlodgingsuchreportsdidnotchangeintheReportingPeriod.Thesaidinformationcanbefoundinthe2019AnnualReport.IVKeyFinancialInformation
Indicatebytickmarkwhetherthereisanyretrospectivelyrestateddatuminthetablebelow.
√Yes□NoReasonforretrospectiverestatement:
Correctionofaccountingerror
| H12020 | H12019 | Change(%) | ||
| Before | Restated | |||
| Operatingrevenue(RMB) | 1,167,455,782.30 | 1,115,829,845.59 | 1,118,871,125.00 | 4.34% |
| Netprofitattributabletothelistedcompany’sshareholders(RMB) | 27,690,311.06 | 19,058,025.07 | 19,117,635.69 | 44.84% |
| Netprofitattributabletothelistedcompany’sshareholdersbeforeexceptionalgainsandlosses(RMB) | 20,672,139.96 | 14,227,155.59 | 14,260,746.62 | 44.96% |
| Netcashgeneratedfrom/usedinoperatingactivities(RMB) | -20,354,729.25 | -154,227,704.77 | -153,321,492.87 | --- |
| Basicearningspershare(RMB/share) | 0.0493 | 0.0339 | 0.0341 | 44.57% |
| Dilutedearningspershare(RMB/share) | 0.0493 | 0.0339 | 0.0341 | 44.57% |
| Weightedaveragereturnonequity(%) | 1.32% | 0.97% | 0.91% | 0.41% |
| 30June2020 | 31December2019 | Change(%) | ||
| Before | Restated | |||
| Totalassets(RMB) | 3,538,385,637.01 | 3,484,975,990.48 | 3,488,820,324.60 | 1.42% |
| Equityattributabletothelistedcompany’sshareholders(RMB) | 2,079,769,720.75 | 2,109,239,597.94 | 2,110,892,767.58 | -1.47% |
Reasonforchangeinaccountingpolicyandparticularsaboutcorrectionofaccountingerror:
Fordetails,pleasereferto“1.CorrectionofPreviousAccountingError”under“XVOtherSignificantEvents”of“PartXIFinancialStatements”.VAccountingDataDifferencesunderChina’sAccountingStandardsforBusinessEnterprises(CAS)andInternationalFinancialReportingStandards(IFRS)andForeignAccountingStandards
1.NetProfitandEquityunderCASandIFRS
□Applicable√NotapplicableNodifferencefortheReportingPeriod.
2.NetProfitandEquityunderCASandForeignAccountingStandards
□Applicable√NotapplicableNodifferencefortheReportingPeriod.VIExceptionalGainsandLosses
√Applicable□Notapplicable
Unit:RMB
| Item | H12020 | Note |
| Gainorlossondisposalofnon-currentassets(inclusiveofimpairmentallowancewrite-offs) | 9,252.03 | |
| Governmentgrantsthroughprofitorloss(exclusiveofgovernmentgrantsgivenintheCompany’sordinarycourseofbusinessatfixedquotasoramountsasperthegovernment’suniformstandards) | 2,657,218.07 | |
| Capitaloccupationchargesonnon-financialenterprisesthatarethroughprofitorloss | 257,714.14 | |
| Gainorlossonfair-valuechangesofheld-for-tradingandderivativefinancialassetsandliabilities&incomefromdisposalofheld-for-tradingandderivativefinancialassetsandliabilitiesandotherinvestmentsindebtobligations(exclusiveoftheeffectiveportionofhedgesthatariseintheCompany’sordinarycourseofbusiness) | 5,384,597.04 |
| Non-operatingincomeandexpenseotherthantheabove | 95,387.43 | |
| Less:Incometaxeffects | 1,205,579.18 | |
| Non-controllinginterestseffects(netoftax) | 180,418.43 | |
| Total | 7,018,171.10 | -- |
ExplanationofwhytheCompanyreclassifiesasrecurrentanexceptionalgain/lossitemdefinedorlistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—ExceptionalGain/LossItems:
□Applicable√NotapplicableNosuchcasesfortheReportingPeriod.
PartIIIBusinessSummaryIPrincipalActivityoftheCompanyintheReportingPeriod
Asamanufacturer,wespecializeinthemanufactureandsaleofdieselengines,dieselenginefittingsandcastings,gasolineengines,gasolineenginefittings,rotovators,walkingtractors,moldsandjigsaswellastheassemblyandsaleofdieselengineandgasolineenginesupportingsets.Wemainlymanufactureandsellsmallandmedium-sizedsingle-cylinderandmulti-cylinderdieselenginesunderthebrandof“Changchai”,whichareoftenusedintractors,combine-harvesters,lightcommercialvehicles,agricultureequipment,small-sizedengineeringmachinery,generatorsets,marineengine,etc.IISignificantChangesinMajorAssets
1.SignificantChangesinMajorAssets
| Majorassets | Mainreasonforsignificantchanges |
| Accountsreceivable | TheendingamountwasupbyRMB311,097,635.70(or74.19%)fromthebeginningamount,primarilydrivenbythepandemicandtheCompany’smovetoproperlyallowcustomers’buyingoncreditinorderformoremarkets,andthefactthatmulti-cylinderdieselenginecustomersareusuallygivenlongerpaymentdaysfortheyaremostlysupportingmanufacturers. |
| Othercurrentassets | TheendingamountwasupbyRMB2,155,687.32(or33.57%)fromthebeginningamount,primarilydrivenbyanincreaseinoverpaidVAT. |
| Investmentsinotherequityinstruments | TheendingamountwasdownbyRMB70,726,000.00(or13.27%)fromthebeginningamount,primarilydrivenbydecreasesinthepricesoftheFotonandBankofJiangsustocksheldbytheCompanyintheReportingPeriod. |
| Employeebenefitspayable | TheendingamountwasdownbyRMB25,601,360.24(or57.45%)fromthebeginningamount,primarilydrivenbythepartialpaymentinthecurrentperiodoftheaccruedsalariesandbonusesinthepriorperiod. |
2.MajorAssetsOverseas
□Applicable√NotapplicableIIICoreCompetitivenessAnalysis
1.AdvantagesinBrandChangchaiisanationalindustrialenterprisewithahistoryofoveronehundredyears.Itisoneoftheearliest
professionalmanufacturersofinternalcombustionenginesinChina.Thebrand"Changchai"istheearliestdomestictrademarkofproductiongoodsknownasChina'swell-knowntrademarks.Thedieselengineof"Changchai"brandisChina'sbrand-nameproduct.TheenterprisehasbeencertifiedbyISO9001andIATF16949qualitysystems,ISO14001environmentalmanagementsystem,ISO/TS16949automotiveproductqualitymanagementsystem,andaccessedtothenationalexport-freeenterprisequalification.Changchaiwashonorablyrankedamong“theTopOneHundredChineseEnterprisesinEngineeringIndustry”and“ChinaPacesetterEnterpriseofIndustrialIndustry”forseveraltimes,andwasawardedthehonorarytitleof“State-levelEnterpriseofObservingContractsandKeepingPromise”,“China'sAgriculturalMachineryPartsandComponentsLeadingEnterprises”,“China'sAgriculturalMachineryAAACreditEnterprise”,“QualityManagementExcellenceAwardofJiangsuProvince”and“MayorQualityAwardofChangzhouCity”.TheCompanyhasbeenamongthe“JiangsuIndependentIndustriesBrandTop50”forfouryearsinarow.Also,ithasbeenamongthe10users’mostsatisfiedleadingbrandsin“JingGeng”competitionformanyyears.In2020,theCompanywasawardedthetitleof“NationalModelEnterpriseforTrustworthyProductandServiceQuality”,amongothers.Formanyyears,intheprocessofachievingsteadyeconomicdevelopmentoftheenterprise,wedevelopedinasoundmannerandcultivatedthe“Changchai”brand,afamoussmalldieselenginebrandofChinawithindependentintellectualpropertyrights.
2.AdvantagesinTechnologyTheCompanyhasastate-leveltechnologycenterandpost-doctoralresearchstation,andaresearchcenterofsmallandmedium-powerinternalcombustionengineengineeringandtechnologyinJiangsuProvince.Currently,itismainlyengagedinproductionofsmallandmedium-powersingle-cylinderandmulti-cylinderdieselengine.Ithasacompleteproductrange,awidepowerlevelcoverage,ahighreputationandintellectualpropertyrightsforitsmainproducts.Its4G33TCdieselenginehasbeenincludedintheprovincialcatalogofkeynewtechnologiesandproductstobepromoted.Its4G33TCand3M78dieselengineshavebeenrecognizedas“high-techproducts”attheprovinciallevel.4G33V16hasbeenrecognizedasan“InnovativeProductofChangzhouManufacturing”.DuringtheReportingPeriod,theCompanyfiledfor6patentsandwasgranted11patents.Currently,theCompanyhasatotalof139patentsgrantedbyauthoritiesathomeandabroad,including14inventionpatents.
3.AdvantagesinMarketingChangchaihasbuiltupasalesservicenetworkcoveringthewholecountry,with5salesbusinessunits,27salesservicecenters,over900servicestationsand750designatedmaintenancestations.Inaddition,inordertomeettheNationalEmissionStandardIVforNon-RoadVehiclesandprovidebetterafter-salesserviceforcustomers,a
servicemonitoringplatformwithChangchaicharacteristicshasbeenputinplace.Withaperfectdieselsalesservicenetworksystem,theCompanyisabletoprovidehighquality,efficientandtimelyservicesforcustomers.
PartIVOperatingPerformanceDiscussionandAnalysis
IOverview
Agriculturalequipmentmanufacturerssufferedhardshipinvariousdegreesinthefirsthalfof2020duetotheCOVID-19pandemic.UnderaseveremarketconditionofcomplexityandvolatilityathomeandabroadduringtheReportingPeriod,theCompanysold376,800unitsofdieselengines,gasolineenginesandrelatedgeneratorsets,including61,200unitsofgasolineengines,generatingtotalsalesrevenueofRMB1.167billion,anincreaseof4.34%year-on-year.IntheReportingPeriod,theCompanystrengthenedproductadvantages,acceleratedmarketexpansion,andpushedforwardproductplanningstepbystep.Also,itattachedimportancetoservicemanagementtoincreaseserviceefficiency,andenhancedinternalmanagementforbettercostefficiency.Throughtheseefforts,ithasachievedthefollowingresults:
Intermsofanti-pandemicefforts,theCompanyhassetupadedicatedtaskforce,whichisresponsiblefortheimplementationofanti-pandemicmeasuresandtherelateddailywork.Thefocusisonpreparationandapplicationforresumptionofwork/production,aswellasensuringsmoothlogistics,componentprocurementandmarketingplanningupontheresumptionofwork/production.Therefore,thepandemicdidnothaveasignificantimpactontheproductionandoperationoftheCompanyduringtheReportingPeriod.Concerningproductdevelopmentandinnovation,thedevelopmentofdieselengineundertheNationalEmissionStandardIVforNon-RoadVehicleshasbeenpushedforward.Meanwhile,theongoingdieseloutboardengineprogramaimstodeveloplightweight,high-speedandlow-emissiondieselengineandsteeringgearforoutboardenginesandfillthegapinrespectofdomesticdieseloutboardengines.Withregardtoqualitymanagement,theCompanywasISO9001andIATF16949certifiedbyChinaJiudingAutomotiveSupplierCertificationCo.,Ltd.inthefirsthalfof2020.Intermsofmarketing,theCompanymanagedtomakeprogressinrespectofthedomesticandoverseasmarketsinfaceofthesignificantchallengesoftheanti-pandemicworkandseizingopportunitiesduringthepeakseasonforsales.Onthedomesticmarket,theCompanysolidifieditsexistingmarkets,workedharderonweakermarkets,andlaunchednewproductsandexplorednewmarketsindifferentareas.Asaresult,theCompanyhasmaintaineditsleadingpositionindustry-widewithasteadilyenlargingmarketshare.Inaddition,breakthroughwasmadeinrespectofsalesofkeyproductsinkeymarkets.Asfortheoverseasmarket,exportsofdieselenginesandthe
relatedgeneratorsetssawayear-on-yearincrease.Meanwhile,theCompanycontinuedtoexpandthemarketshareofitsstrongproductsinmajormarkets,aswellasbuildtrustedandharmoniouspartnershipswithcustomersandsuppliers.Also,itactivelydealtwithmarketchanges,grabbedmarketexpansionopportunities,explorednewmarkets,andkeptperfectingservices.Asaresult,customersatisfactionisontherise.Intermsofinternalmanagement,theCompanyreinforcedtheconstructionofinternalcontrolsystemandthesupervisionofkeyprojects.Bydeepeningthemedium-termspecialaudit,itimprovedriskpreventionandcontrolabilityandthequalityofinternalauditwork.Astimelymeasuresaretakentosolveproblems,operationalefficiencyoftheCompanyisimproved.DuringtheReportingPeriod,constructionofChangchaiMachinerywasinfullswingandproceededsmoothly.InmidApril,theCompanylaunchedaprivateplacementprojectof2020,andtheplanwasapprovedatageneralmeetingon8May2020.IICoreBusinessAnalysis
See“IOverview”above.Year-on-yearchangesinkeyfinancialdata:
Unit:RMB
| H12020 | H12019 | Change(%) | Mainreasonforchange | |
| Operatingrevenue | 1,167,455,782.30 | 1,118,871,125.00 | 4.34% | |
| Costofsales | 985,842,718.68 | 972,984,773.54 | 1.32% | |
| Sellingexpense | 63,392,358.52 | 58,258,398.98 | 8.81% | |
| Administrativeexpense | 35,609,030.74 | 34,560,062.30 | 3.04% | |
| Financecosts | -719,659.98 | -1,784,425.33 | --- | |
| Incometaxexpense | 2,397,311.58 | -2,994,995.32 | --- | |
| R&Dexpense | 32,338,250.78 | 30,064,283.46 | 7.56% | |
| Netcashgeneratedfrom/usedinoperatingactivities | -20,354,729.25 | -153,321,492.87 | --- | |
| Netcashgeneratedfrom/usedininvestingactivities | -29,393,973.49 | -19,266,446.34 | --- | |
| Netcashgeneratedfrom/usedinfinancingactivities | -2,212,485.64 | -22,977,861.20 | --- | |
| Netincreaseincashandcashequivalents | -52,322,640.40 | -195,565,800.41 | --- |
SignificantchangestotheprofitstructureorsourcesoftheCompanyintheReportingPeriod:
□Applicable√NotapplicableNosuchchangesintheReportingPeriod.Breakdownofoperatingrevenue:
Unit:RMB
| H12020 | H12019 | Change(%) | |||
| Operatingrevenue | As%oftotaloperatingrevenue(%) | Operatingrevenue | As%oftotaloperatingrevenue(%) | ||
| Total | 1,167,455,782.30 | 100% | 1,118,871,125.00 | 100% | 4.34% |
| Byoperatingdivision | |||||
| Internalcombustionengines | 1,149,231,063.13 | 98.44% | 1,099,044,681.77 | 98.23% | 4.57% |
| Other | 18,224,719.17 | 1.56% | 19,826,443.23 | 1.77% | -8.08% |
| Byproductcategory | |||||
| Dieselengines | 1,077,428,497.56 | 92.29% | 1,030,299,707.19 | 92.08% | 4.57% |
| Gasolineengines | 62,530,025.78 | 5.36% | 68,744,974.58 | 6.14% | -9.04% |
| Other | 27,497,258.96 | 2.36% | 19,826,443.23 | 1.77% | 38.69% |
| Byoperatingsegment | |||||
| Domestic | 1,014,992,139.15 | 86.94% | 965,909,049.72 | 86.33% | 5.08% |
| Overseas | 152,463,643.15 | 13.06% | 152,962,075.28 | 13.67% | -0.33% |
Operatingdivision,productcategoryoroperatingsegmentcontributingover10%ofoperatingrevenueoroperatingprofit:
√Applicable□Notapplicable
Unit:RMB
| Operatingrevenue | Costofsales | Grossprofitmargin | YoYchangeinoperatingrevenue(%) | YoYchangeincostofsales(%) | YoYchangeingrossprofitmargin(%) | |
| Byoperatingdivision | ||||||
| Internalcombustion | 1,149,231,063.13 | 974,846,243.01 | 15.17% | 4.57% | 1.66% | 2.42% |
| engines | |||||||
| Byproductcategory | |||||||
| Dieselengines | 1,077,428,497.56 | 913,843,345.73 | 15.18% | 4.57% | 1.36% | 2.69% | |
| Gasolineengines | 62,530,025.78 | 50,693,980.80 | 18.93% | -9.04% | -11.63% | 2.38% | |
| Byoperatingsegment | |||||||
| Domestic | 1,014,992,139.10 | 837,693,796.58 | 17.47% | 5.08% | 1.63% | 2.81% | |
| Overseas | 152,463,643.20 | 148,148,922.10 | 2.83% | -0.33% | -0.36% | 0.03% | |
Anyover30%YoYmovementsinthedataaboveandwhy:
□Applicable√NotapplicableIIIAnalysisofNon-CoreBusinesses
□Applicable√NotapplicableIVAnalysisofAssetsandLiabilities
1.SignificantChangesinAssetComposition
Unit:RMB
| H12020 | H12019 | Changeinpercentage(%) | Reasonforanysignificantchange | |||
| Amount | As%oftotalassets | Amount | As%oftotalassets | |||
| Monetaryassets | 600,274,769.45 | 16.96% | 630,563,081.85 | 17.30% | -0.34% | |
| Accountsreceivable | 730,399,692.57 | 20.64% | 743,300,388.85 | 20.39% | 0.25% | |
| Inventories | 428,205,070.52 | 12.10% | 480,126,259.50 | 13.17% | -1.07% | |
| Investmentproperty | 47,343,496.43 | 1.34% | 49,551,837.23 | 1.36% | -0.02% | |
| Fixedassets | 437,411,354.41 | 12.36% | 473,252,963.64 | 12.98% | -0.62% | |
| Constructioninprogress | 103,006,376.02 | 2.91% | 80,277,379.05 | 2.20% | 0.71% | |
| Short-termborrowings | 22,000,000.00 | 0.62% | 22,000,000.00 | 0.60% | 0.02% | |
2.AssetsandLiabilitiesatFairValue
√Applicable□Notapplicable
Unit:RMB
| Item | Beginningamount | Gain/lossonfair-valuechangesintheReportingPeriod | Cumulativefair-valuechangesthroughequity | ImpairmentallowancemadeintheReportingPeriod | PurchasedintheReportingPeriod | SoldintheReportingPeriod | Otherchanges | Endingamount |
| Financialassets | ||||||||
| 1.Held-for-tradingfinancialassets(exclusiveofderivativefinancialassets) | 13,050,000.00 | 17,722,956.16 | 16,172,956.16 | 14,600,000.00 | ||||
| 2.Derivativefinancialassets | ||||||||
| 3.Othercreditor'srightsinvestment | 77,952,101.63 | 77,952,101.63 | ||||||
| 4.Investmentsinotherequityinstruments | 532,886,000.00 | -70,235,000.00 | 302,776,500.00 | 491,000.00 | 462,160,000.00 | |||
| Subtotaloffinancialassets | 623,888,101.63 | -70,235,000.00 | 302,776,500.00 | 0.00 | 17,722,956.16 | 16,663,956.16 | 0.00 | 554,712,101.63 |
| Totaloftheabove | 623,888,101.63 | -70,235,000.00 | 302,776,500.00 | 0.00 | 17,722,956.16 | 16,663,956.16 | 0.00 | 554,712,101.63 |
| Financialliabilities | 0.00 | 0.00 |
SignificantchangestothemeasurementattributesofthemajorassetsintheReportingPeriod:
□Yes√No
3.RestrictedAssetRightsasatthePeriod-End
| Item | Endingcarryingamount | Reasonforrestriction |
| Monetaryassets | 106,637,411.65 | Securitydepositforbankacceptancebill,environment-relatedsecuritydeposit,etc. |
| Buildings | 9,933,008.28 | Collateralforbankloan |
| Landuseright | 989,620.82 | Collateralforbankloan |
| Plantandequipment | 38,139,602.80 | Collateralforbankloan |
| Total | 155,699,643.55 | -- |
VInvestmentsMade
1.TotalInvestmentAmount
√Applicable□Notapplicable
| TotalinvestmentamountintheReportingPeriod(RMB) | Totalinvestmentamountinthesameperiodoflastyear(RMB) | Change |
| 35,000,000.00 | 10,000,000.00 | 250.00% |
2.MajorEquityInvestmentsMadeintheReportingPeriod
√Applicable□Notapplicable
Unit:RMB
| Investee | Principalactivity | Wayofinvestment | Amountofinvestment | TheCompany’sinterest | Fundingsource | Co-investor | Termofinvestment | Typeoftheinvestee’sproducts | Investmentprogressasofthe | Anticipatedreturnoninvestm | Investmentincome/lossintheRepo | Anylegalmatterinvolvedornot | Date(ifany)ofdisclosure | Index(ifany)todisclosedinformati |
| balancesheetdate | ent | rtingPeriod | on | |||||||||||
| JiangsuChangchaiMachineryCo.,Ltd. | Internalcombustionengine,relatedgeneratorsetsandparts | Capitalincrease | 35,000,000.00 | 100.00% | Self-funded | None | Long-term | Internalcombustionengine,relatedgeneratorsetsandparts | Theinputhasbeenmade | 0.00 | -674,563.23 | Not | 26February2019 | 2019-004 |
| Total | -- | -- | 35,000,000.00 | -- | -- | -- | -- | -- | -- | 0.00 | -674,563.23 | -- | -- | -- |
3.MajorNon-EquityInvestmentsOngoingintheReportingPeriod
□Applicable√Notapplicable
4.FinancialAssetsatFairValue
√Applicable□Notapplicable
Unit:RMB
| Typeofassets | Initialinvestmentcost | Gain/lossonfairvaluechangesintheReportingPeriod | Accumulatedfairvaluechangesrecordedinequity | PurchasedintheReportingPeriod | SoldintheReportingPeriod | Accumulatedreturnoninvestment | Endingamount | Fundingsource |
| Stock | 59,874,500.00 | -70,235,000.00 | 302,776,500.00 | 0.00 | 491,000.00 | 0.00 | 362,160,000.00 | Self-funded |
| Total | 59,874, | -70,235,0 | 302,776,50 | 0.00 | 491,000. | 0.00 | 362,160, |
| 500.00 | 00.00 | 0.00 | 00 | 000.00 |
5.FinancialInvestments
(1)SecuritiesInvestments
√Applicable□Notapplicable
| Varietyofsecurity | Codeofsecurity | Nameofsecurity | Initialinvestmentcost | Accountingmeasurementmethod | Beginningcarryingamount | Gain/lossonfairvaluechangesintheReportingPeriod | Accumulatedfairvaluechangesrecordedinequity | PurchasedintheReportingPeriod | SoldintheReportingPeriod | Gain/lossintheReportingPeriod | Endingcarryingamount | Accountingtitle | Fundingsours |
| Domestic/foreignstock | 600166 | FotonMotor | 41,784,000.00 | Fairvaluemethod | 302,005,000.00 | -41,905,000.00 | 218,316,000.00 | 0.00 | 0.00 | 0.00 | 260,100,000.00 | Investmentinotherequityinstruments | Self-funded |
| Domestic/foreignstock | 600919 | BankofJiangsu | 18,000,000.00 | Fairvaluemethod | 130,320,000.00 | -28,260,000.00 | 84,060,000.00 | 0.00 | 0.00 | 0.00 | 102,060,000.00 | Investmentinotherequityinstruments | Self-funded |
| Domestic/foreignstock | 600377 | JiangsuExpressway | 90,500.00 | Fairvaluemethod | 561,000.00 | -70,000.00 | 400,500.00 | 0.00 | 491,000.00 | 0.00 | 0.00 | Investmentinotherequityinstrume | Self-funded |
| nts | |||||||||||
| Total | 59,874,500.00 | -- | 432,886,000.00 | -70,235,000.00 | 302,776,500.00 | 0.00 | 491,000.00 | 0.00 | 362,160,000.00 | -- | -- |
(2)InvestmentsinDerivativeFinancialInstruments
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.VISaleofMajorAssetsandEquityInvestments
1.SaleofMajorAssets
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
2.SaleofMajorEquityInvestments
□Applicable√NotapplicableVIIPrincipalSubsidiariesandJointStockCompanies
√Applicable□NotapplicablePrincipalsubsidiariesandjointstockcompanieswithanover10%effectontheCompany’snetprofit:
Unit:RMB
| Name | RelationshipwiththeCompany | Principalactivity | Registeredcapital | Totalassets | Netassets | Operatingrevenue | Operatingprofit | Netprofit |
| ChangchaiBenniu | Subsidiary | Productionofdieselengineaccessories | 55,063,000.00 | 164,355,399.94 | 83,894,920.92 | 92,503,740.84 | -1,831,537.46 | -2,021,996.78 |
| Changchai | Subsidiar | Diesel | 85,000,0 | 75,765,2 | 49,503,9 | 24,477,8 | 532,60 | 469,127.87 |
| Wanzhou | y | engineassembly | 00.00 | 27.77 | 99.68 | 50.44 | 4.77 | |
| HoushengInvestment | Subsidiary | Externalinvestmentandconsulting | 40,000,000.00 | 49,170,524.30 | 48,492,567.66 | 257,714.14 | 478,880.89 | 462,854.73 |
| HoushengAgriculturalEquipment | Subsidiary | agriculturalmachineryproductofricetransplanteretc. | 10,000,000.00 | 29,435,971.32 | 243,296.31 | 9,272,539.79 | -203,349.52 | -203,349.52 |
| ChangchaiRobin | Subsidiary | Gasolineenginesassembly | 37,250,000.00 | 107,835,812.75 | 95,480,849.44 | 63,592,847.45 | 7,021,935.38 | 5,389,413.72 |
| ChangchaiMachinery | Subsidiary | Internalcombustionengineandrelatedaccessories | 300,000,000.00 | 44,028,990.43 | 43,931,840.43 | 0.00 | -666,984.39 | -674,563.23 |
| XingshengRealEstateManagement | Subsidiary | Realestateservice | 1000,000.00 | 5,837,629.06 | 3,326,061.10 | 2,814,132.29 | 727,989.50 | 691,225.28 |
SubsidiariesobtainedordisposedofintheReportingPeriod:
□Applicable√Notapplicable
VIIIStructuredBodiesControlledbytheCompany
□Applicable√Notapplicable
IXOperatingPerformanceForecastforJanuary-September2020
WarningofaforecastnegativenetprofitfortheJanuary-SeptemberperiodofthecurrentyearoraconsiderableYoYchangetherein,aswellasthereasons:
□Applicable√Notapplicable
XRisksFacingtheCompanyandCountermeasures
1.MarketriskWithfiercecompetition,over-capacityofsometraditionalproductsandthetotalavailablemarketofthesinglecylinderenginewereinadeclinetendencyaswellasthedemandfromtheindustrywasinsufficient.Andtheprofitabilityoftheenterprisesfacedwithrathergreatpressure.Inthefuture,emissionstandardsofinternalcombustionengineswillbefurtherupdatedandairpollutioncontrolwillbefurtherstringent.Safetyproductionandenvironmentalprotectionwillbenormalized,andtheindustrywillstillbeinaperiodofdeepadjustment.Countermeasures:Firstly,tocontinuetooptimizeproductandmarketstructuresandstrengthenthemarketfoundationtodomesticandforeignmarkets.Secondly,todedicatetoproductdevelopmentandupgradingandtoproactivelyexpandnewsupportingareas.Thirdly,tofullyfocusonmarketqualitymattersandtoimprovemarketreputationwithsoundmeasures.Fourthly,tocontinuetodrivetheprogressofkeytechnologicalimprovementprojectsandbuildChangchaiIndustryParkwithhighstandards.Fifthly,tomaketangibleeffortstoreinforceleanmanagementtopromotequalityimprovement,costreductionandefficiencyenhancement.Sixthly,tomakefulluseofthecapitalmarkettoperformcapitaloperationandassistcorporatedevelopment.Finally,toimprovethequalityofemployeesandprovidehumanresourcessupportforcompanydevelopment.
2.Industrialrisk:
Therapiddevelopmentofnewenergyvehiclesisboundtoaffectthetraditionalfuelautomobileindustryanditsindustrialchain,specifically;itwilldirectlyaffecttheengineandgearboxmanufacturingindustry,andgenerateagreaterimpactonthetraditionalgasolineanddieselengineindustry.Althoughthematurityofrelatedindustriesinthefieldofnewenergymaytakeyears,morethanadecadeorevenlongerfortransition,thetrendisinevitable.Inresponsetotheupgradingofemissionstandardsandtherapiddevelopmentofnewenergyindustries,enterprisesinthetraditionalinternal-combustionengineindustryneedtoseeknewdevelopmentopportunitiestoshiftindustrialrisks.。Countermeasures:Thefirstmeasureistopreparelayoutinnewenergyindustriesinadvancetoseizetheopportunityforindustrydevelopment.ThesecondoneistoincreasetheR&Dintensityofnewproductsthatmeetsthestandardsofnon-roadnationalGradeIVandothernewproducts,increaseproductemissionstandards,andtakeadvanceddieselengineproductsasthebasisoftheCompanytoexplorethedevelopmentdirectionofnewindustriesandmeettheindustrialupgradingandtransformation.
3.Policyrisk:
Themacro-economicenvironmentiscomplexandchangeable,economicgrowthisslowingdown.Influencingfactorsareincreasingduetotheepidemic.andthepolicyonthedieselengineemissionsisbecomingstricterandstricter,whichincreasedtheoperatingdifficultiesandthepressure.Assuch,themarketdemandsforsomeproductsoftheCompanywillbeaffectedtosomeextent.Countermeasures:TheCompanywillpaycloseattentiontothegovernment’seconomicmacro-controlpoliciesandmarketdevelopments.Topromotetheworksuchas“promotetheproductsupgradeandqualityenhancing”,toembracetheupgradingoftheengineemissionstandards,toacceleratetheforgingofthenew“StandardV”platform,andtoexecutethenecessaryproductsresourcesreservesinadvance.
4.Foreigntraderisk:
Againstthebackgroundsofcomplexandchangeableglobaleconomicenvironmentandincreasingtradeconflicts,theepidemicbringsmoretoughchallengestotheoperationofforeigntrades.Theexportofproductsisaffectedtosomeextentduetoincreasingunstablefactors.Countermeasures:TheCompanywilltimelypayattentiontochangesofglobalmarkets,communicatewithcustomersregardingcountermeasuresintimeandreasonablyavoidexchangeraterisks.
5.Talentrisk:
AstheCompanykeeps,inrecentyears,improvingoperationalefficiencyandtechnologicalinnovationtocopewiththeincreasinglyfiercemarketcompetitionandindustrydevelopmenttrend,thedemandforprofessionalandseniormanagementpersonnelisgreatlyincreased.Countermeasures:Firstly,introduceallkindsofhigh-rankingtalentsthroughvarietiesofchannelsandstrengthenpersonneltraining.Secondly,theCompanyalsomakesoptimizationintheperformanceappraisalsystemandincentivepaysystemandstrengthensthetrainingofemployeestoreducethelossofprofessionalsandstrengthenspersonnelfortheconstructionoftalentedpersonnelteams.
PartVSignificantEvents
IAnnualandExtraordinaryGeneralMeetingConvenedduringtheReportingPeriod
1.GeneralMeetingsConvenedduringtheReportingPeriod
| Meeting | Type | Investorparticipationratio | Dateofthemeeting | Dateofdisclosure | Indextodisclosedinformation |
| TheFirstExtraordinaryGeneralMeetingof2020 | ExtraordinaryGeneralMeeting | 31.35% | 16April2020 | 17April2020 | 2020-026 |
| The2019AnnualGeneralMeeting | AnnualGeneralMeeting | 34.88% | 8May2020 | 9May2020 | 2020-036 |
2.ExtraordinaryGeneralMeetingsConvenedattheRequestofPreferenceShareholderswithResumedVotingRights
□Applicable√Notapplicable
IIInterimDividendPlan
□Applicable√NotapplicableTheCompanyhasnointerimdividendplan,eitherintheformofcashorstock.IIICommitmentsoftheCompany’sDeFactoController,Shareholders,RelatedPartiesandAcquirers,aswellastheCompanyItselfandOtherEntitiesFulfilledintheReportingPeriodorOngoingatthePeriod-End
√Applicable□Notapplicable
| Commitment | Promisor | Typeofcommitment | Detailsofcommitment | Dateofcommitmentmaki | Termofcommitment | Fulfillment |
| ng | ||||||
| Othercommitmentsmadetominorityshareholders | ChangchaiCompany,Limited | bonus | RewardsPlanforShareholdersinNextThreeYears(2020-2022)Underthepremiseofpositivedistributiveprofit(remainingafter-taxprofitsaftermakingupforthelossandextractingforthecommonreserves)inthisyearorhalfyearandabundantmoneyflowandnoinfluenceonthefollowing-upgoingconcernaftercashbonus,theprofitsallocatedbycasheveryyearshouldn’tbelowerthan10%oftheallocableprofitsfromparentcompany.Meanwhile,theaccumulatedallocableprofitsbycashinthearbitrarycontinuousthreeaccountingyearsshouldnotbelowerthan30%oftheannualaverageallocableprofitsinthosethreeyears. | 8May2020 | Year2020-2022 | Ongoing |
| Fulfilledontimeornot | Yes | |||||
| Specificreasonsforfailingtofulfillcommitmentsontimeandplansfornextstep(ifany) | N/A | |||||
IVEngagementandDisengagementofIndependentAuditor
Aretheinterimfinancialstatementsaudited?
√Yes□No
| Nameofthedomesticindependentauditor | GongzhengTianyeCertifiedPublicAccountants(SpecialGeneralPartnership) |
| FeepayablebytheCompanytothedomesticindependentauditorfortheauditoftheinterimfinancialstatements(RMB’0,000) | 50 |
Indicatebytickmarkwhethertheindependentauditorwaschangedfortheinterimfinancialstatementscomparedtotheindependentauditorforthe2019annualfinancialstatements.
□Yes√No
VExplanationsGivenbytheBoardofDirectorsandtheSupervisoryCommitteeRegardingtheIndependentAuditor's“ModifiedOpinion”ontheFinancialStatementsoftheReportingPeriod
□Applicable√NotapplicableVIExplanationsGivenbytheBoardofDirectorsRegardingtheIndependentAuditor's“ModifiedOpinion”ontheFinancialStatementsofLastYear
□Applicable√Notapplicable
VIIInsolvencyandReorganization
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.VIIILegalMattersSignificantlawsuitsandarbitrations:
√Applicable□Notapplicable
| Generalinformation | Involvedamount(RMB’0,000) | Provision | Progress | Decisionsandeffects | Executionofdecisions | Dateofdisclosure | Indextodisclosedinformation |
| AboutthelawsuitcaseofShandongHongliGroupCo.,Ltd.,theaccusedcompanyowedaccumulativelyRMB14.36milliontotheCompany.TheCompanysuedtoChangzhouIntermediatePeople’sCourtin2001andsuedforcompulsoryexecutioninApril, | 1,436 | No | Judgedforthesecondtrial | N/A | Underthecompulsoryexecutionbythecourtandintheprocessofliquidationandbankruptcy |
Otherlegalmatters:
□Applicable√Notapplicable
IXDoubtsfromMedia
□Applicable√NotapplicableTheCompanyhadnoissuesaboutwhichmediagenerallyraiseddoubtsintheReportingPeriod.XPunishmentsandRectifications
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
XICreditQualityoftheCompanyaswellasitsControllingShareholderandDeFactoController
√Applicable□NotapplicableThedefactocontrolleroftheCompanyisSASACofChangzhouPeople’sGovernmentandthecontrollingshareholderofitisChangzhouInvestmentGroupCo.,Ltd.Thereisnosuchcasethatthecontrollingshareholderfailstoperformanylegallyeffectivejudgmentofcourtsortopayoffmatureddebtswithalargeamount.XIIEquityIncentivePlans,EmployeeStockOwnershipPlansorOtherIncentiveMeasuresforEmployees
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.XIIIMajorRelated-PartyTransactions
1.ContinuingRelated-PartyTransactions
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
2.Related-PartyTransactionsRegardingPurchaseorDisposalofAssetsorEquityInvestments
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
3.Related-PartyTransactionsRegardingJointInvestmentsinThirdParties
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
4.AmountsDuetoandfromRelatedParties
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
5.OtherMajorRelated-PartyTransactions
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.XIVOccupationoftheCompany’sCapitalbytheControllingShareholderoranyofItsRelatedPartiesforNon-OperatingPurposes
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
XVMajorContractsandExecutionthereof
1.Entrustment,ContractingandLeases
(1)Entrustment
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
(2)Contracting
□Applicable√Notapplicable
NosuchcasesintheReportingPeriod.
(3)Leases
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
2.MajorGuarantees
√Applicable□Notapplicable
(1)Guarantees
Unit:RMB'0,000
| GuaranteesprovidedbytheCompanyforexternalparties(exclusiveofthoseforsubsidiaries) | ||||||||
| Guarantee-receivingentity | Disclosuredateoftheguaranteelineannouncement | Lineofguarantee | Actualoccurrencedate(agreementsigningdate) | Actualguaranteeamount | Typeofguarantee | Termofguarantee | Havingexpiredornot | Guaranteeforarelatedpartyornot |
| GuaranteesprovidedbytheCompanyastheparentforitssubsidiaries | ||||||||
| Guarantee-receivingentity | Disclosuredateoftheguaranteelineannouncement | Lineofguarantee | Actualoccurrencedate(agreementsigningdate) | Actualguaranteeamount | Typeofguarantee | Termofguarantee | Havingexpiredornot | Guaranteeforarelatedpartyornot |
| ChangzhouChangchaiHoushengAgriculturalEquipmentCo.,Ltd. | 25November2019 | 2,000 | 16April2020 | 2,000 | Jointliability | 1year | No | No |
| TotalapprovedlineforsuchguaranteesintheReportingPeriod(B1) | 2,000 | TotalactualamountofsuchguaranteesintheReportingPeriod(B2) | 2,000 | |||||
| Totalapprovedlinefor | 2,000 | Totalactualbalanceof | 2,000 | |||||
| suchguaranteesattheendoftheReportingPeriod(B3) | suchguaranteesattheendoftheReportingPeriod(B4) | ||||||||
| Guaranteesbetweensubsidiaries | |||||||||
| Guarantee-receivingentity | Disclosuredateoftheguaranteelineannouncement | Lineofguarantee | Actualoccurrencedate(agreementsigningdate) | Actualguaranteeamount | Typeofguarantee | Termofguarantee | Havingexpiredornot | Guaranteeforarelatedpartyornot | |
| Totalguaranteeamount(totalofthethreekindsofguaranteesabove) | |||||||||
| TotalguaranteelineapprovedintheReportingPeriod(A1+B1+C1) | 2,000 | TotalactualguaranteeamountintheReportingPeriod(A2+B2+C2) | 2,000 | ||||||
| TotalapprovedguaranteelineattheendoftheReportingPeriod(A3+B3+C3) | 2,000 | TotalactualguaranteebalanceattheendoftheReportingPeriod(A4+B4+C4) | 2,000 | ||||||
| Totalactualguaranteeamount(A4+B4+C4)as%oftheCompany’snetassets | 0.96% | ||||||||
| Ofwhich: | |||||||||
| Balanceofguaranteesprovidedforshareholders,thedefactocontrollerandtheirrelatedparties(D) | 0 | ||||||||
| Balanceofdebtguaranteesprovideddirectlyorindirectlyforentitieswithanover70%debt/assetratio(E) | 2,000 | ||||||||
| Amountbywhichthetotalguaranteeamountexceeds50%oftheCompany’snetassets(F) | 0 | ||||||||
| Totalofthethreeamountsabove(D+E+F) | 2,000 | ||||||||
| Possibilityofhavingtoexecutejointliabilityonoutstandingguarantees(ifany) | N/A | ||||||||
| Irregularitiesintheprovisionofguaranteestoexternalparties(ifany) | N/A | ||||||||
(2)IrregularitiesintheProvisionofGuarantees
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
3.CashEntrustedforWealthManagement
√Applicable□Notapplicable
Unit:RMB’0,000
| Type | Fundingsource | Amount | Undueamount | Unrecoveredoverdueamount |
| Brokerfinancialproducts | Self-funded | 1,462.29 | 1,150 | 0 |
| Total | 1,462.29 | 1,150 | 0 | |
High-riskwealthmanagementtransactionswithasignificantsingleamount,orwithlowsecurity,lowliquidityornoprincipalprotection:
□Applicable√NotapplicableSituationwheretheprincipalisexpectedlyirrecoverableoranimpairmentmaybeincurred:
□Applicable√Notapplicable
4.OtherSignificantContracts
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.XVICorporateSocialResponsibility(CSR)
1.MajorEnvironmentalIssuesIstheCompanyoranyofitssubsidiariesidentifiedasakeypolluterbytheenvironmentauthorities?No.TheCompanyanditssubsidiariesarenotthemajorpolluteridentifiedbytheenvironmentalprotectionauthoritiesofChinaduringtheReportingPeriod.TheCompanyattachesgreatimportancetotheworkofenvironmentalprotection,andrequiresthesubsidiariestobuildcorrespondingenvironmentalprotectionfacilitiesaccordingtotheactualsituationofproductionandoperation,strictlycontrollingthepollutants,like“wastegas,wastewater,andwasteresidue”generatedfromtheproductionprocess.
2.MeasuresTakenforTargetedPovertyAlleviationTheCompanydidnottakeanytargetedmeasurestohelppeopleliftthemselvesoutofpovertyduringtheReportingPeriod,alsonosubsequentplans.
XVIIOtherSignificantEvents
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
XVIIISignificantEventsofSubsidiaries
□Applicable√Notapplicable
PartVIShareChangesandShareholderInformationIShareChanges
1.ShareChanges
Unit:share
| Before | Increase/decreaseintheReportingPeriod(+/-) | After | |||||||
| Number | Percentage(%) | Newissues | Sharesasdividendconvertedfromprofit | Sharesasdividendconvertedfromcapitalreserves | Other | Subtotal | Number | Percentage(%) | |
| 1.Restrictedshares | 0 | 0.00% | 0 | 0.00% | |||||
| 1.1Sharesheldbygovernment | 0 | 0.00% | 0 | 0.00% | |||||
| 1.2Sharesheldbystate-ownedlegalpersons | 0 | 0.00% | 0 | 0.00% | |||||
| 1.3Sharesheldbyotherdomesticinvestors | 0 | 0.00% | 0 | 0.00% | |||||
| Amongwhich:Sharesheldbydomesticlegalpersons | 0 | 0.00% | 0 | 0.00% | |||||
| Sharesheldbydomesticnaturalpersons | 0 | 0.00% | 0 | 0.00% | |||||
| 1.4Sharesheldbyforeigninvestors | 0 | 0.00% | 0 | 0.00% | |||||
| Amongwhich:Sharesheldbyforeignlegalpersons | 0 | 0.00% | 0 | 0.00% | |||||
| Sharesheldbyforeignnaturalpersons | 0 | 0.00% | 0 | 0.00% | |
| 2.Unrestrictedshares | 561,374,326 | 100.00% | 561,374,326 | 100.00% | |
| 2.1RMB-denominatedordinaryshares | 411,374,326 | 73.28% | 411,374,326 | 73.28% | |
| 2.2Domesticallylistedforeignshares | 150,000,000 | 26.72% | 150,000,000 | 26.72% | |
| 2.3Oversealistedforeignshares | 0 | 0.00% | 0 | 0.00% | |
| 2.4Other | 0 | 0.00% | 0 | 0.00% | |
| 3.Totalshares | 561,374,326 | 100.00% | 561,374,326 | 100.00% |
Reasonsforthesharechanges:
□Applicable√NotapplicableApprovalofthesharechanges:
□Applicable√NotapplicableTransferofshareownership:
□Applicable√NotapplicableProgressonanysharerepurchase:
□Applicable√NotapplicableProgressonreducingtherepurchasedsharesbymeansofcentralizedbidding:
□Applicable√NotapplicableEffectsofthesharechangesonthebasicanddilutedearningspershare,equitypershareattributabletotheCompany’sordinaryshareholdersandotherfinancialindicatorsoftheprioryearandtheprioraccountingperiod,respectively:
□Applicable√NotapplicableOtherinformationthattheCompanyconsidersnecessaryorisrequiredbythesecuritiesregulatortobedisclosed:
□Applicable√Notapplicable
2.ChangesinRestrictedShares
□Applicable√Notapplicable
IIIssuanceandListingofSecurities
□Applicable√Notapplicable
IIIShareholdersandTheirHoldingsasatthePeriod-End
Unit:share
| Numberofordinaryshareholders | 46,936 | Numberofpreferenceshareholderswithresumedvotingrights(ifany) | 0 | |||||||
| 5%orgreaterordinaryshareholdersorthetop10ordinaryshareholders | ||||||||||
| Nameofshareholder | Natureofshareholder | Shareholdingpercentage | Ordinarysharesheld | Increase/decreaseintheReportingPeriod | Restrictedordinarysharesheld | Unrestrictedordinarysharesheld | Sharesinpledgeorfrozen | |||
| Status | Shares | |||||||||
| ChangzhouInvestmentGroupCo.,Ltd | State-ownedlegalperson | 30.43% | 170,845,236 | 170,845,236 | ||||||
| ChinaConstructionBankCorporation-FirstStateCindaNewEnergyIndustryStockTypeSecuritiesInvestmentFund | Other | 1.70% | 9,554,765 | 9,554,765 | ||||||
| KGIAsiaLimited | Foreignlegalperson | 0.57% | 3,189,845 | 3,189,845 | ||||||
| ChinaConstructionBankCorporation-FirstStateCindaAdvancedIntelligentManufacturingStockTypeSecuritiesInvestmentFund | Other | 0.44% | 2,488,474 | 2,488,474 | ||||||
| BankofCommunicationsCo.,Ltd.-FirstStateCindaCoreTechnologiesMixedTypeSecuritiesInvestmentFund | Other | 0.30% | 1,676,500 | 1,676,500 | ||||
| HuWenyong | Domesticnaturalperson | 0.28% | 1,561,866 | 1,561,866 | ||||
| LiSuinan | Domesticnaturalperson | 0.27% | 1,540,400 | 1,540,400 | ||||
| HuangGuoliang | Domesticnaturalperson | 0.27% | 1,528,891 | 1,528,891 | ||||
| XueHong | Domesticnaturalperson | 0.24% | 1,332,700 | 1,332,700 | ||||
| ChenHengjun | Domesticnaturalperson | 0.23% | 1,276,500 | 1,276,500 | ||||
| Strategicinvestororgenerallegalpersonbecomingatop-10ordinaryshareholderinarightsissue(ifany) | None | |||||||
| Relatedoracting-in-concertpartiesamongtheshareholdersabove | Itisunknownwhetherthereisamongthetop10publicshareholdersandthetop10unrestrictedpublicshareholdersanyrelatedpartiesoracting-in-concertpartiesasdefinedintheAdministrativeMeasuresforInformationRegardingShareholdingAlteration. | |||||||
| Top10unrestrictedshareholders | ||||||||
| Nameofshareholder | Unrestrictedordinarysharesheld | Sharesbyclass | ||||||
| Class | Shares | |||||||
| ChangzhouInvestmentGroupCo.,Ltd | 170,845,236 | RMB-denominatedordinaryshare | 170,845,236 | |||||
| ChinaConstructionBankCorporation-FirstStateCindaNewEnergyIndustryStockTypeSecuritiesInvestmentFund | 9,554,765 | RMB-denominatedordinaryshare | 9,554,765 | |||||
| KGIAsiaLimited | 3,189,845 | Domesticallylistedforeignshare | 3,189,845 |
| ChinaConstructionBankCorporation-FirstStateCindaAdvancedIntelligentManufacturingStockTypeSecuritiesInvestmentFund | 2,488,474 | RMB-denominatedordinaryshare | 2,488,474 |
| BankofCommunicationsCo.,Ltd.-FirstStateCindaCoreTechnologiesMixedTypeSecuritiesInvestmentFund | 1,676,500 | RMB-denominatedordinaryshare | 1,676,500 |
| HuWenyong | 1,561,866 | Domesticallylistedforeignshare | 1,561,866 |
| LiSuinan | 1,540,400 | Domesticallylistedforeignshare | 1,540,400 |
| HuangGuoliang | 1,528,891 | Domesticallylistedforeignshare | 1,528,891 |
| XueHong | 1,332,700 | Domesticallylistedforeignshare | 1,332,700 |
| ChenHengjun | 1,276,500 | RMB-denominatedordinaryshare | 1,276,500 |
| Relatedoracting-in-concertpartiesamongthetop10unrestrictedordinaryshareholders,aswellasbetweenthetop10unrestrictedordinaryshareholdersandthetop10ordinaryshareholders | Itisunknownwhetherthereisamongthetop10publicshareholdersandthetop10unrestrictedpublicshareholdersanyrelatedpartiesoracting-in-concertpartiesasdefinedintheAdministrativeMeasuresforInformationRegardingShareholdingAlteration. | ||
| Top10ordinaryshareholdersinvolvedinsecuritiesmargintrading(ifany) | None | ||
Indicatebytickmarkwhetheranyofthetop10ordinaryshareholdersorthetop10unrestrictedordinaryshareholdersoftheCompanyconductedanypromissoryrepoduringtheReportingPeriod.
□Yes√NoNosuchcasesintheReportingPeriod.
IVChangeoftheControllingShareholderortheDeFactoController
ChangeofthecontrollingshareholderintheReportingPeriod
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.ChangeofthedefactocontrollerintheReportingPeriod
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
PartVIIPreferenceShares
□Applicable√NotapplicableNopreferencesharesintheReportingPeriod.
PartVIIIConvertibleCorporateBonds
□Applicable√NotapplicableNoconvertiblecorporatebondsintheReportingPeriod.
PartIXDirectors,SupervisorsandSeniorManagement
IChangeinShareholdingsofDirectors,SupervisorsandSeniorManagement
□Applicable√NotapplicableNochangesoccurredtotheshareholdingsofthedirectors,supervisorsandseniormanagementintheReportingPeriod.Seethe2019AnnualReportformoredetails.
IIChangeofDirectors,SupervisorsandSeniorManagement
√Applicable□Notapplicable
| Name | Officetitle | Typeofchange | Dateofchange | Reasonforchange |
| ShiJianchun | Director,DeputyGeneralManager | Leavingforexpirationoftheterm | 16April2020 | Leftforexpirationoftheterm |
| ZhangQiong | Director | Leavingforexpirationoftheterm | 16April2020 | Leftforexpirationoftheterm |
| FengGenfu | IndependentDirector | Leavingforexpirationoftheterm | 16April2020 | Leftforexpirationoftheterm |
| JiaBin | IndependentDirector | Leavingforexpirationoftheterm | 16April2020 | Leftforexpirationoftheterm |
| LiMinghui | IndependentDirector | Leavingforexpirationoftheterm | 16April2020 | Leftforexpirationoftheterm |
| ZhuMin | Supervisor | Leavingforexpirationoftheterm | 16April2020 | Leftforexpirationoftheterm |
| XieGuozhong | Supervisor | Leavingforexpirationoftheterm | 16April2020 | Leftforexpirationoftheterm |
| LiuXiaoyun | DeputyGeneralManager | Leavingforexpirationoftheterm | 16April2020 | Leftforexpirationoftheterm |
| WeiJinxiang | DeputyGeneralManager | Leavingforexpirationoftheterm | 16April2020 | Leftforexpirationoftheterm |
| XuYi | Director | Appointment | 16April2020 | Elected |
| JiangHe | Director,ChiefAccountant | Appointment | 16April2020 | Electedandrecruited |
| YangFeng | Director | Appointment | 16April2020 | Elected |
| WangMancang | IndependentDirector | Appointment | 16April2020 | Elected |
| XingMin | IndependentDirector | Appointment | 16April2020 | Elected |
| ZhangYan | IndependentDirector | Appointment | 16April2020 | Elected |
| ChenLijia | Supervisor | Appointment | 16April2020 | Elected |
| GeJiangli | Supervisor | Appointment | 16April2020 | Elected |
| XieGuozhong | DeputyGeneralManager | Recruitment | 16April2020 | Recruited |
| SunJianzhong | DeputyGeneralManager | Recruitment | 16April2020 | Recruited |
ChangchaiCompany,LimitedInterim
Report2020
PartXCorporateBondsDoestheCompanyhaveanycorporatebondspubliclyofferedonthestockexchange,whichwereoutstandingbeforethedateofthisReport’sapprovalorwereduebutcouldnotberedeemedinfull?No.
ChangchaiCompany,LimitedInterim
Report2020
PartXIFinancialStatementsIIndependentAuditor’sReport
Aretheseinterimfinancialstatementsauditedbyanindependentauditor?
√Yes□No
| Typeoftheauditopinion | Unmodifiedunqualifiedopinion |
| Dateofsigningtheindependentauditor’sreport | 29July2020 |
| Nameoftheauditfirm | GongzhengTianyeCertifiedPublicAccountants(SpecialGeneralPartnership) |
| Referencenumberoftheindependentauditor’sreport | SGW[2020]A1166 |
| Nameofthecertifiedpublicaccountants | DaiWeizhongandXuWenxiang |
Istheindependentauditor’sreportmodified?
□Yes√No
IIFinancialStatementsCurrencyunitforthefinancialstatementsandthenotesthereto:RMB
1.ConsolidatedBalanceSheetPreparedbyChangchaiCompany,Limited
30June2020
Unit:RMB
| Item | 30June2020 | 31December2019 |
| Currentassets: | ||
| Monetaryassets | 600,274,769.45 | 638,589,260.09 |
| Settlementreserve | ||
| Interbankloansgranted | ||
| Held-for-tradingfinancialassets | 14,600,000.00 | 13,050,000.00 |
| Derivativefinancialassets | ||
| Notesreceivable | 508,401,509.54 | 606,283,023.05 |
| Accountsreceivable | 730,399,692.57 | 419,302,056.87 |
ChangchaiCompany,LimitedInterim
Report2020
| Accountsreceivablefinancing | ||
| Prepayments | 10,208,446.08 | 12,968,746.16 |
| Premiumsreceivable | ||
| Reinsurancereceivables | ||
| Receivablereinsurancecontractreserve | ||
| Otherreceivables | 10,280,692.50 | 9,703,390.94 |
| Including:Interestreceivable | ||
| Dividendsreceivable | ||
| Financialassetspurchasedunderresaleagreements | ||
| Inventories | 428,205,070.52 | 473,359,168.90 |
| Contractassets | ||
| Assetsheldforsale | ||
| Currentportionofnon-currentassets | ||
| Othercurrentassets | 8,576,962.79 | 6,421,275.47 |
| Totalcurrentassets | 2,310,947,143.45 | 2,179,676,921.48 |
| Non-currentassets: | ||
| Loansandadvancestocustomers | ||
| Investmentsindebtobligations | ||
| Investmentsinotherdebtobligations | ||
| Long-termreceivables | ||
| Long-termequityinvestments | ||
| Investmentsinotherequityinstruments | 462,160,000.00 | 532,886,000.00 |
| Othernon-currentfinancialassets | 77,952,101.63 | 77,952,101.63 |
| Investmentproperty | 47,343,496.43 | 48,447,666.83 |
| Fixedassets | 437,411,354.41 | 457,722,667.32 |
ChangchaiCompany,LimitedInterim
Report2020
| Constructioninprogress | 103,006,376.02 | 91,358,156.24 |
| Productivelivingassets | ||
| Oilandgasassets | ||
| Right-of-useassets | ||
| Intangibleassets | 97,374,195.14 | 99,699,450.26 |
| Developmentcosts | ||
| Goodwill | ||
| Long-termprepaidexpense | 33,595.50 | 53,497.80 |
| Deferredincometaxassets | 1,979,974.43 | 1,023,863.04 |
| Othernon-currentassets | 177,400.00 | |
| Totalnon-currentassets | 1,227,438,493.56 | 1,309,143,403.12 |
| Totalassets | 3,538,385,637.01 | 3,488,820,324.60 |
| Currentliabilities: | ||
| Short-termborrowings | 22,000,000.00 | 22,000,000.00 |
| Borrowingsfromthecentralbank | ||
| Interbankloansobtained | ||
| Held-for-tradingfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | 479,515,000.00 | 403,035,000.00 |
| Accountspayable | 580,840,786.08 | 525,625,016.89 |
| Advancesfromcustomers | 31,789,001.78 | |
| Contractliabilities | 31,527,438.40 | |
| Financialassetssoldunderrepurchaseagreements | ||
| Customerdepositsandinterbankdeposits | ||
| Payablesforactingtradingofsecurities | ||
| Payablesforunderwritingofsecurities | ||
| Employeebenefitspayable | 18,957,655.55 | 44,559,015.79 |
| Taxespayable | 8,253,042.15 | 9,094,382.58 |
| Otherpayables | 190,736,737.19 | 205,064,145.10 |
ChangchaiCompany,LimitedInterim
Report2020
| Including:Interestpayable | ||
| Dividendspayable | 3,891,433.83 | 3,891,433.83 |
| Handlingchargesandcommissionspayable | ||
| Reinsurancepayables | ||
| Liabilitiesdirectlyassociatedwithassetsheldforsale | ||
| Currentportionofnon-currentliabilities | ||
| Othercurrentliabilities | 2,240,843.08 | 1,177,712.38 |
| Totalcurrentliabilities | 1,334,071,502.45 | 1,242,344,274.52 |
| Non-currentliabilities: | ||
| Insurancecontractreserve | ||
| Long-termborrowings | ||
| Bondspayable | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | ||
| Long-termpayables | ||
| Long-termemployeebenefitspayable | ||
| Provisions | ||
| Deferredincome | 58,331,924.41 | 58,864,111.22 |
| Deferredincometaxliabilities | 46,398,724.72 | 57,082,890.27 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 104,730,649.13 | 115,947,001.49 |
| Totalliabilities | 1,438,802,151.58 | 1,358,291,276.01 |
| Owners’equity: | ||
| Sharecapital | 561,374,326.00 | 561,374,326.00 |
| Otherequityinstruments | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Capitalreserves | 164,328,665.43 | 164,328,665.43 |
ChangchaiCompany,LimitedInterim
Report2020
| Less:Treasurystock | ||
| Othercomprehensiveincome | 257,019,600.00 | 317,059,775.00 |
| Specificreserve | 18,438,650.51 | 17,560,202.07 |
| Surplusreserves | 322,228,533.72 | 322,228,533.72 |
| Generalreserve | ||
| Retainedearnings | 756,379,945.09 | 728,341,265.36 |
| TotalequityattributabletoownersoftheCompanyastheparent | 2,079,769,720.75 | 2,110,892,767.58 |
| Non-controllinginterests | 19,813,764.68 | 19,636,281.01 |
| Totalowners’equity | 2,099,583,485.43 | 2,130,529,048.59 |
| Totalliabilitiesandowners’equity | 3,538,385,637.01 | 3,488,820,324.60 |
Legalrepresentative:ShiXinkunGeneralManager:ZhangXinHeadoftheaccountingdepartment:JiangHe
2.BalanceSheetoftheCompanyastheParent
Unit:RMB
| Item | 30June2020 | 31December2019 |
| Currentassets: | ||
| Monetaryassets | 537,280,656.10 | 584,957,678.96 |
| Held-for-tradingfinancialassets | ||
| Derivativefinancialassets | ||
| Notesreceivable | 472,217,227.54 | 576,948,023.05 |
| Accountsreceivable | 644,643,117.23 | 337,447,538.04 |
| Accountsreceivablefinancing | ||
| Prepayments | 4,990,201.79 | 6,386,284.14 |
| Otherreceivables | 22,243,041.97 | 22,741,542.22 |
| Including:Interestreceivable | ||
| Dividends |
ChangchaiCompany,LimitedInterim
Report2020
| receivable | ||
| Inventories | 311,044,719.11 | 368,653,472.39 |
| Contractassets | ||
| Assetsheldforsale | ||
| Currentportionofnon-currentassets | ||
| Othercurrentassets | 3,217,463.57 | 3,898,333.51 |
| Totalcurrentassets | 1,995,636,427.31 | 1,901,032,872.31 |
| Non-currentassets: | ||
| Investmentsindebtobligations | ||
| Investmentsinotherdebtobligations | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 287,752,730.03 | 252,752,730.03 |
| Investmentsinotherequityinstruments | 462,160,000.00 | 532,886,000.00 |
| Othernon-currentfinancialassets | 50,000,000.00 | 50,000,000.00 |
| Investmentproperty | 47,343,496.43 | 48,447,666.83 |
| Fixedassets | 348,701,107.11 | 364,071,199.07 |
| Constructioninprogress | 73,761,874.14 | 89,330,161.60 |
| Productivelivingassets | ||
| Oilandgasassets | ||
| Right-of-useassets | ||
| Intangibleassets | 68,543,680.83 | 70,169,770.91 |
| Developmentcosts | ||
| Goodwill | ||
| Long-termprepaidexpense | ||
| Deferredincometaxassets | 1,926,498.14 | 970,026.67 |
| Othernon-currentassets | ||
| Totalnon-currentassets | 1,340,189,386.68 | 1,408,627,555.11 |
| Totalassets | 3,335,825,813.99 | 3,309,660,427.42 |
| Currentliabilities: |
ChangchaiCompany,LimitedInterim
Report2020
| Short-termborrowings | 5,000,000.00 | 5,000,000.00 |
| Held-for-tradingfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | 467,515,000.00 | 392,105,000.00 |
| Accountspayable | 523,091,443.14 | 481,854,210.18 |
| Advancesfromcustomers | 28,673,664.87 | |
| Contractliabilities | 27,529,799.73 | |
| Employeebenefitspayable | 12,316,392.34 | 39,125,477.30 |
| Taxespayable | 4,913,254.33 | 5,952,664.10 |
| Otherpayables | 176,944,594.03 | 192,046,130.29 |
| Including:Interestpayable | ||
| Dividendspayable | 3,243,179.97 | 3,243,179.97 |
| Liabilitiesdirectlyassociatedwithassetsheldforsale | ||
| Currentportionofnon-currentliabilities | ||
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 1,217,310,483.57 | 1,144,757,146.74 |
| Non-currentliabilities: | ||
| Long-termborrowings | ||
| Bondspayable | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | ||
| Long-termpayables | ||
| Long-termemployeebenefitspayable | ||
| Provisions | ||
| Deferredincome | 58,331,924.41 | 58,864,111.22 |
| Deferredincometaxliabilities | 45,356,400.00 | 55,951,725.00 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 103,688,324.41 | 114,815,836.22 |
ChangchaiCompany,LimitedInterim
Report2020
| Totalliabilities | 1,320,998,807.98 | 1,259,572,982.96 |
| Owners’equity: | ||
| Sharecapital | 561,374,326.00 | 561,374,326.00 |
| Otherequityinstruments | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Capitalreserves | 183,071,147.70 | 183,071,147.70 |
| Less:Treasurystock | ||
| Othercomprehensiveincome | 257,019,600.00 | 317,059,775.00 |
| Specificreserve | 18,438,650.51 | 17,560,202.07 |
| Surplusreserves | 322,228,533.72 | 322,228,533.72 |
| Retainedearnings | 672,694,748.08 | 648,793,459.97 |
| Totalowners’equity | 2,014,827,006.01 | 2,050,087,444.46 |
| Totalliabilitiesandowners’equity | 3,335,825,813.99 | 3,309,660,427.42 |
Legalrepresentative:ShiXinkunGeneralManager:ZhangXinHeadoftheaccountingdepartment:JiangHe
3.ConsolidatedIncomeStatement
Unit:RMB
| Item | H12020 | H12019 |
| 1.Revenue | 1,167,455,782.30 | 1,118,871,125.00 |
| Including:Operatingrevenue | 1,167,455,782.30 | 1,118,871,125.00 |
| Interestincome | ||
| Insurancepremiumincome | ||
| Handlingchargeandcommissionincome | ||
| 2.Costsandexpenses | 1,123,014,304.27 | 1,099,092,785.90 |
| Including:Costofsales | 985,842,718.68 | 972,984,773.54 |
| Interestexpense | ||
| Handlingchargeandcommissionexpense | ||
| Surrenders |
ChangchaiCompany,LimitedInterim
Report2020
| Netinsuranceclaimspaid | ||
| Netamountprovidedasinsurancecontractreserve | ||
| Expenditureonpolicydividends | ||
| Reinsurancepremiumexpense | ||
| Taxesandsurcharges | 6,551,605.53 | 5,009,692.95 |
| Sellingexpense | 63,392,358.52 | 58,258,398.98 |
| Administrativeexpense | 35,609,030.74 | 34,560,062.30 |
| R&Dexpense | 32,338,250.78 | 30,064,283.46 |
| Financecosts | -719,659.98 | -1,784,425.33 |
| Including:Interestexpense | 3,340,575.91 | 1,567,625.50 |
| Interestincome | 2,792,152.75 | 1,647,206.24 |
| Add:Otherincome | 2,677,964.82 | 134,037.71 |
| Returnoninvestment(“-”forloss) | 5,384,597.04 | 184,349.63 |
| Including:Shareofprofitorlossofjointventuresandassociates | ||
| Incomefromthederecognitionoffinancialassetsatamortizedcost(“-”forloss) | ||
| Exchangegain(“-”forloss) | ||
| Netgainonexposurehedges(“-”forloss) | ||
| Gainonchangesinfairvalue(“-”forloss) | ||
| Creditimpairmentloss(“-”forloss) | -5,979,021.29 | -5,252,610.74 |
| Assetimpairmentloss(“-”forloss) | -16,343,805.00 | -26,096.43 |
| Assetdisposalincome(“-”forloss) | 10,977.61 | 988,535.95 |
| 3.Operatingprofit(“-”forloss) | 30,192,191.21 | 15,806,555.22 |
| Add:Non-operatingincome | 468,290.78 | 582,937.48 |
| Less:Non-operatingexpense | 395,375.68 | 217,837.98 |
| 4.Profitbeforetax(“-”forloss) | 30,265,106.31 | 16,171,654.72 |
| Less:Incometaxexpense | 2,397,311.58 | -2,994,995.32 |
| 5.Netprofit(“-”fornetloss) | 27,867,794.73 | 19,166,650.04 |
| 5.1Byoperatingcontinuity | ||
| 5.1.1Netprofitfromcontinuingoperations(“-”fornetloss) | 27,867,794.73 | 19,166,650.04 |
| 5.1.2Netprofitfromdiscontinuedoperations(“-”for |
ChangchaiCompany,LimitedInterim
Report2020
| netloss) | ||
| 5.2Byownership | ||
| 5.2.1NetprofitattributabletoownersoftheCompanyastheparent | 27,690,311.06 | 19,117,635.69 |
| 5.2.1Netprofitattributabletonon-controllinginterests | 177,483.67 | 49,014.35 |
| 6.Othercomprehensiveincome,netoftax | -59,691,806.33 | 87,330,700.00 |
| AttributabletoownersoftheCompanyastheparent | -59,691,806.33 | 87,330,700.00 |
| 6.1Itemsthatwillnotbereclassifiedtoprofitorloss | -59,691,806.33 | 87,330,700.00 |
| 6.1.1Changescausedbyremeasurementsondefinedbenefitschemes | ||
| 6.1.2Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorlossundertheequitymethod | ||
| 6.1.3Changesinthefairvalueofinvestmentsinotherequityinstruments | -59,691,806.33 | 87,330,700.00 |
| 6.1.4Changesinthefairvaluearisingfromchangesinowncreditrisk | ||
| 6.1.5Other | ||
| 6.2Itemsthatwillbereclassifiedtoprofitorloss | ||
| 6.2.1Othercomprehensiveincomethatwillbereclassifiedtoprofitorlossundertheequitymethod | ||
| 6.2.2Changesinthefairvalueofinvestmentsinotherdebtobligations | ||
| 6.2.3Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | ||
| 6.2.4Creditimpairmentallowanceforinvestmentsinotherdebtobligations | ||
| 6.2.5Reserveforcashflowhedges | ||
| 6.2.6Differencesarisingfromthetranslationofforeigncurrency-denominatedfinancialstatements | ||
| 6.2.7Other | ||
| Attributabletonon-controllinginterests | ||
| 7.Totalcomprehensiveincome | -31,824,011.60 | 106,497,350.04 |
| AttributabletoownersoftheCompanyastheparent | -32,001,495.27 | 106,448,335.69 |
| Attributabletonon-controllinginterests | 177,483.67 | 49,014.35 |
| 8.Earningspershare | ||
| 8.1Basicearningspershare | 0.0493 | 0.0341 |
| 8.2Dilutedearningspershare | 0.0493 | 0.0341 |
ChangchaiCompany,LimitedInterim
Report2020
Legalrepresentative:ShiXinkunGeneralManager:ZhangXinHeadoftheaccountingdepartment:JiangHe
4.IncomeStatementoftheCompanyastheParent
Unit:RMB
| Item | H12020 | H12019 |
| 1.Operatingrevenue | 1,081,469,803.12 | 1,033,329,175.58 |
| Less:Costofsales | 923,422,022.77 | 907,286,315.49 |
| Taxesandsurcharges | 5,359,697.76 | 3,963,893.19 |
| Sellingexpense | 57,376,397.80 | 53,346,830.95 |
| Administrativeexpense | 26,796,437.18 | 25,476,365.88 |
| R&Dexpense | 31,647,738.36 | 27,891,685.42 |
| Financecosts | -1,390,764.55 | -3,010,192.35 |
| Including:Interestexpense | 2,303,571.52 | 1,314,360.50 |
| Interestincome | 2,529,399.84 | 1,165,423.09 |
| Add:Otherincome | 1,931,604.92 | 129,300.00 |
| Returnoninvestment(“-”forloss) | 4,983,988.73 | |
| Including:Shareofprofitorlossofjointventuresandassociates | ||
| Incomefromthederecognitionoffinancialassetsatamortizedcost(“-”forloss) | ||
| Netgainonexposurehedges(“-”forloss) | ||
| Gainonchangesinfairvalue(“-”forloss) | ||
| Creditimpairmentloss(“-”forloss) | -5,440,782.47 | -5,260,420.00 |
| Assetimpairmentloss(“-”forloss) | -15,816,298.12 | -26,096.43 |
| Assetdisposalincome(“-”forloss) | 10,781.75 | 988,535.95 |
| 2.Operatingprofit(“-”forloss) | 23,927,568.61 | 14,205,596.52 |
| Add:Non-operatingincome | 238,948.92 | 230,353.36 |
| Less:Non-operatingexpense | 4,025.58 | 166,954.64 |
| 3.Profitbeforetax(“-”forloss) | 24,162,491.95 | 14,268,995.24 |
| Less:Incometaxexpense | 609,572.51 | -4,118,680.40 |
| 4.Netprofit(“-”fornetloss) | 23,552,919.44 | 18,387,675.64 |
ChangchaiCompany,LimitedInterim
Report2020
| 4.1Netprofitfromcontinuingoperations(“-”fornetloss) | 23,552,919.44 | 18,387,675.64 |
| 4.2Netprofitfromdiscontinuedoperations(“-”fornetloss) | ||
| 5.Othercomprehensiveincome,netoftax | -59,691,806.33 | 87,330,700.00 |
| 5.1Itemsthatwillnotbereclassifiedtoprofitorloss | -59,691,806.33 | 87,330,700.00 |
| 5.1.1Changescausedbyremeasurementsondefinedbenefitschemes | ||
| 5.1.2Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorlossundertheequitymethod | ||
| 5.1.3Changesinthefairvalueofinvestmentsinotherequityinstruments | -59,691,806.33 | 87,330,700.00 |
| 5.1.4Changesinthefairvaluearisingfromchangesinowncreditrisk | ||
| 5.1.5Other | ||
| 5.2Itemsthatwillbereclassifiedtoprofitorloss | ||
| 5.2.1Othercomprehensiveincomethatwillbereclassifiedtoprofitorlossundertheequitymethod | ||
| 5.2.2Changesinthefairvalueofinvestmentsinotherdebtobligations | ||
| 5.2.3Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | ||
| 5.2.4Creditimpairmentallowanceforinvestmentsinotherdebtobligations | ||
| 5.2.5Reserveforcashflowhedges | ||
| 5.2.6Differencesarisingfromthetranslationofforeigncurrency-denominatedfinancialstatements | ||
| 5.2.7Other | ||
| 6.Totalcomprehensiveincome | -36,138,886.89 | 105,718,375.64 |
| 7.Earningspershare | ||
| 7.1Basicearningspershare | ||
| 7.2Dilutedearningspershare |
Legalrepresentative:ShiXinkunGeneralManager:ZhangXinHeadoftheaccountingdepartment:JiangHe
ChangchaiCompany,LimitedInterim
Report2020
5.ConsolidatedCashFlowStatement
Unit:RMB
| Item | H12020 | H12019 |
| 1.Cashflowsfromoperatingactivities: | ||
| Proceedsfromsaleofcommoditiesandrenderingofservices | 860,915,528.67 | 925,855,455.10 |
| Netincreaseincustomerdepositsandinterbankdeposits | ||
| Netincreaseinborrowingsfromthecentralbank | ||
| Netincreaseinloansfromotherfinancialinstitutions | ||
| Premiumsreceivedonoriginalinsurancecontracts | ||
| Netproceedsfromreinsurance | ||
| Netincreaseindepositsandinvestmentsofpolicyholders | ||
| Interest,handlingchargesandcommissionsreceived | ||
| Netincreaseininterbankloansobtained | ||
| Netincreaseinproceedsfromrepurchasetransactions | ||
| Netproceedsfromactingtradingofsecurities | ||
| Taxrebates | 13,166,033.29 | 21,598,658.84 |
| Cashgeneratedfromotheroperatingactivities | 7,744,404.19 | 8,402,843.81 |
| Subtotalofcashgeneratedfromoperatingactivities | 881,825,966.15 | 955,856,957.75 |
| Paymentsforcommoditiesandservices | 657,759,091.59 | 900,048,290.07 |
| Netincreaseinloansandadvancestocustomers | ||
| Netincreaseindepositsinthecentralbankandininterbankloansgranted | ||
| Paymentsforclaimsonoriginalinsurancecontracts | ||
| Netincreaseininterbankloansgranted | ||
| Interest,handlingchargesandcommissionspaid | ||
| Policydividendspaid | ||
| Cashpaidtoandforemployees | 152,057,875.00 | 152,284,424.64 |
| Taxespaid | 19,245,929.17 | 18,008,386.04 |
| Cashusedinotheroperatingactivities | 73,117,799.64 | 38,837,349.87 |
| Subtotalofcashusedinoperatingactivities | 902,180,695.40 | 1,109,178,450.62 |
| Netcashgeneratedfrom/usedinoperatingactivities | -20,354,729.25 | -153,321,492.87 |
| 2.Cashflowsfrominvestingactivities: |
ChangchaiCompany,LimitedInterim
Report2020
| Proceedsfromdisinvestment | 3,550,487.00 | 7,900,000.00 |
| Returnoninvestment | 5,384,597.04 | 184,349.63 |
| Netproceedsfromthedisposaloffixedassets,intangibleassetsandotherlong-livedassets | 108,370.88 | 988,535.95 |
| Netproceedsfromthedisposalofsubsidiariesandotherbusinessunits | ||
| Cashgeneratedfromotherinvestingactivities | 97,150.00 | |
| Subtotalofcashgeneratedfrominvestingactivities | 9,140,604.92 | 9,072,885.58 |
| Paymentsfortheacquisitionoffixedassets,intangibleassetsandotherlong-livedassets | 33,004,278.41 | 11,800,890.16 |
| Paymentsforinvestments | 4,600,000.00 | 16,538,441.76 |
| Netincreaseinpledgedloansgranted | ||
| Netpaymentsfortheacquisitionofsubsidiariesandotherbusinessunits | ||
| Cashusedinotherinvestingactivities | 930,300.00 | |
| Subtotalofcashusedininvestingactivities | 38,534,578.41 | 28,339,331.92 |
| Netcashgeneratedfrom/usedininvestingactivities | -29,393,973.49 | -19,266,446.34 |
| 3.Cashflowsfromfinancingactivities: | ||
| Capitalcontributionsreceived | ||
| Including:Capitalcontributionsbynon-controllingintereststosubsidiaries | ||
| Borrowingsraised | 10,000,000.00 | 12,000,000.00 |
| Cashgeneratedfromotherfinancingactivities | ||
| Subtotalofcashgeneratedfromfinancingactivities | 10,000,000.00 | 12,000,000.00 |
| Repaymentofborrowings | 10,000,000.00 | 19,000,000.00 |
| Interestanddividendspaid | 2,212,485.64 | 15,977,861.20 |
| Including:Dividendspaidbysubsidiariestonon-controllinginterests | ||
| Cashusedinotherfinancingactivities | ||
| Subtotalofcashusedinfinancingactivities | 12,212,485.64 | 34,977,861.20 |
| Netcashgeneratedfrom/usedinfinancingactivities | -2,212,485.64 | -22,977,861.20 |
| 4.Effectofforeignexchangerateschangesoncashandcashequivalents | -361,452.02 | |
| 5.Netincreaseincashandcashequivalents | -52,322,640.40 | -195,565,800.41 |
| Add:Cashandcashequivalents,beginningoftheperiod | 545,959,998.20 | 691,266,373.34 |
ChangchaiCompany,LimitedInterim
Report2020
| 6.Cashandcashequivalents,endoftheperiod | 493,637,357.80 | 495,700,572.93 |
Legalrepresentative:ShiXinkunGeneralManager:ZhangXinHeadoftheaccountingdepartment:JiangHe
6.CashFlowStatementoftheCompanyastheParent
Unit:RMB
| Item | H12020 | H12019 |
| 1.Cashflowsfromoperatingactivities: | ||
| Proceedsfromsaleofcommoditiesandrenderingofservices | 731,880,356.33 | 825,164,929.97 |
| Taxrebates | 8,380,462.40 | 16,338,954.71 |
| Cashgeneratedfromotheroperatingactivities | 6,294,839.20 | 5,103,265.56 |
| Subtotalofcashgeneratedfromoperatingactivities | 746,555,657.93 | 846,607,150.24 |
| Paymentsforcommoditiesandservices | 566,778,723.71 | 834,695,159.25 |
| Cashpaidtoandforemployees | 130,215,884.89 | 127,977,021.88 |
| Taxespaid | 12,974,529.61 | 9,992,032.82 |
| Cashusedinotheroperatingactivities | 65,655,389.30 | 30,159,658.65 |
| Subtotalofcashusedinoperatingactivities | 775,624,527.51 | 1,002,823,872.60 |
| Netcashgeneratedfrom/usedinoperatingactivities | -29,068,869.58 | -156,216,722.36 |
| 2.Cashflowsfrominvestingactivities: | ||
| Proceedsfromdisinvestment | 500,487.00 | |
| Returnoninvestment | 4,983,988.73 | |
| Netproceedsfromthedisposaloffixedassets,intangibleassetsandotherlong-livedassets | 107,470.88 | 988,535.95 |
| Netproceedsfromthedisposalofsubsidiariesandotherbusinessunits | ||
| Cashgeneratedfromotherinvestingactivities | ||
| Subtotalofcashgeneratedfrominvestingactivities | 5,591,946.61 | 988,535.95 |
| Paymentsfortheacquisitionoffixedassets,intangibleassetsandotherlong-livedassets | 2,365,851.07 | 9,220,626.97 |
| Paymentsforinvestments | 35,000,000.00 | 10,000,000.00 |
| Netpaymentsfortheacquisitionofsubsidiariesandotherbusinessunits |
ChangchaiCompany,LimitedInterim
Report2020
| Cashusedinotherinvestingactivities | ||
| Subtotalofcashusedininvestingactivities | 37,365,851.07 | 19,220,626.97 |
| Netcashgeneratedfrom/usedininvestingactivities | -31,773,904.46 | -18,232,091.02 |
| 3.Cashflowsfromfinancingactivities: | ||
| Capitalcontributionsreceived | ||
| Borrowingsraised | 5,000,000.00 | 5,000,000.00 |
| Cashgeneratedfromotherfinancingactivities | ||
| Subtotalofcashgeneratedfromfinancingactivities | 5,000,000.00 | 5,000,000.00 |
| Repaymentofborrowings | 5,000,000.00 | 10,000,000.00 |
| Interestanddividendspaid | 914,216.00 | 15,404,432.84 |
| Cashusedinotherfinancingactivities | ||
| Subtotalofcashusedinfinancingactivities | 5,914,216.00 | 25,404,432.84 |
| Netcashgeneratedfrom/usedinfinancingactivities | -914,216.00 | -20,404,432.84 |
| 4.Effectofforeignexchangerateschangesoncashandcashequivalents | -491,932.82 | |
| 5.Netincreaseincashandcashequivalents | -62,248,922.86 | -194,853,246.22 |
| Add:Cashandcashequivalents,beginningoftheperiod | 497,777,104.81 | 651,854,206.79 |
| 6.Cashandcashequivalents,endoftheperiod | 435,528,181.95 | 457,000,960.57 |
Legalrepresentative:ShiXinkunGeneralManager:ZhangXinHeadoftheaccountingdepartment:JiangHe
7.ConsolidatedStatementsofChangesinOwners’EquityH12020
Unit:RMB
| Item | H12020 | ||||||||||||||
| EquityattributabletoownersoftheCompanyastheparent | Non-controllinginterests | Totalowners’equity | |||||||||||||
| Sharecapital | Otherequityinstruments | Capitalreserves | Less:Treasurystock | Othercomprehensiveincome | Specificreserve | Surplusreserves | Generalreserve | Retainedearnings | Other | Subtotal | |||||
| Preferredshares | Perpetualbonds | Other | |||||||||||||
| 1.Balanceasattheendoftheprioryear | 561,374,326.00 | 164,328,665.43 | 317,059,775.00 | 17,560,202.07 | 322,226,700.34 | 726,689,929.10 | 2,109,239,597.94 | 19,636,281.01 | 2,128,875,878.95 | ||||||
| Add:Adjustmentforchangeinaccountingpolicy | |||||||||||||||
| Adjustmentforcorrectionofpreviouserror | 1,833.38 | 1,651,336.26 | 1,653,169.64 | 1,653,169.64 | |||||||||||
| Adjustmentforbusinesscombinationundercommoncontrol | |||||||||||||||
| Other | |||||||||||||||
| adjustments | |||||||||||||
| 2.Balanceasatthebeginningoftheyear | 561,374,326.00 | 164,328,665.43 | 317,059,775.00 | 17,560,202.07 | 322,228,533.72 | 728,341,265.36 | 2,110,892,767.58 | 19,636,281.01 | 2,130,529,048.59 | ||||
| 3.Increase/decreaseintheperiod(“-”fordecrease) | -60,040,175.00 | 878,448.44 | 28,038,679.73 | -31,123,046.83 | 177,483.67 | -30,945,563.16 | |||||||
| 3.1Totalcomprehensiveincome | -59,691,806.33 | 27,690,311.06 | -32,001,495.27 | 177,483.67 | -31,824,011.60 | ||||||||
| 3.2Capitalincreasedandreducedbyowners | |||||||||||||
| 3.2.1Ordinarysharesincreasedbyowners | |||||||||||||
| 3.2.2Capitalincreasedbyholdersofotherequityinstruments | |||||||||||||
| 3.2.3Share-basedpaymentsincludedinowners’equity | |||||||||||||
| 3.2.4Other |
| 3.3Profitdistribution | ||||
| 3.3.1Appropriationtosurplusreserves | ||||
| 3.3.2Appropriationtogeneralreserve | ||||
| 3.3.3Appropriationtoowners(orshareholders) | ||||
| 3.3.4Other | ||||
| 3.4Transferswithinowners’equity | -348,368.67 | 348,368.67 | ||
| 3.4.1Increaseincapital(orsharecapital)fromcapitalreserves | ||||
| 3.4.2Increaseincapital(orsharecapital)fromsurplusreserves | ||||
| 3.4.3Lossoffsetbysurplusreserves | ||||
| 3.4.4Changes |
| indefinedbenefitschemestransferredtoretainedearnings | |||||||||||||
| 3.4.5Othercomprehensiveincometransferredtoretainedearnings | |||||||||||||
| 3.4.6Other | -348,368.67 | 348,368.67 | |||||||||||
| 3.5Specificreserve | 878,448.44 | 878,448.44 | 878,448.44 | ||||||||||
| 3.5.1Increaseintheperiod | 1,883,145.87 | 1,883,145.87 | 1,883,145.87 | ||||||||||
| 3.5.2Usedintheperiod | 1,004,697.43 | 1,004,697.43 | 1,004,697.43 | ||||||||||
| 3.6Other | |||||||||||||
| 4.Balanceasattheendoftheperiod | 561,374,326.00 | 164,328,665.43 | 257,019,600.00 | 18,438,650.51 | 322,228,533.72 | 756,379,945.09 | 2,079,769,720.75 | 19,813,764.68 | 2,099,583,485.43 |
H12019
Unit:RMB
| Item | H12019 | ||
| EquityattributabletoownersoftheCompanyastheparent | Non-con | Total | |
| Sharecapital | Otherequityinstruments | Capitalreserves | Less:Treasurystock | Othercomprehensiveincome | Specificreserve | Surplusreserves | Generalreserve | Retainedearnings | Other | Subtotal | trollinginterests | owners’equity | |||
| Preferredshares | Perpetualbonds | Other | |||||||||||||
| 1.Balanceasattheendoftheprioryear | 561,374,326.00 | 164,328,665.43 | 264,405,675.00 | 15,182,958.83 | 320,133,050.15 | 717,883,351.33 | 2,043,308,026.74 | 19,618,480.11 | 2,062,926,506.85 | ||||||
| Add:Adjustmentforchangeinaccountingpolicy | |||||||||||||||
| Adjustmentforcorrectionofpreviouserror | 1,364.08 | 1,619,864.82 | 1,621,228.90 | 1,621,228.90 | |||||||||||
| Adjustmentforbusinesscombinationundercommoncontrol | |||||||||||||||
| Otheradjustments | |||||||||||||||
| 2.Balanceasatthebeginningoftheyear | 561,374,326.00 | 164,328,665.43 | 264,405,675.00 | 15,182,958.83 | 320,134,414.23 | 719,503,216.15 | 2,044,929,255.64 | 19,618,480.11 | 2,064,547,735.75 | ||||||
| 3.Increase/decreaseinthe | 87,330,700.00 | 5,083,277.54 | 92,413,977.5 | 49,014.35 | 92,462,991.89 | ||||||||||
| period(“-”fordecrease) | 4 | |||||||
| 3.1Totalcomprehensiveincome | 87,330,700.00 | 19,117,635.69 | 106,448,335.69 | 49,014.35 | 106,497,350.04 | |||
| 3.2Capitalincreasedandreducedbyowners | ||||||||
| 3.2.1Ordinarysharesincreasedbyowners | ||||||||
| 3.2.2Capitalincreasedbyholdersofotherequityinstruments | ||||||||
| 3.2.3Share-basedpaymentsincludedinowners’equity | ||||||||
| 3.2.4Other | ||||||||
| 3.3Profitdistribution | -14,034,358.15 | -14,034,358.15 | -14,034,358.15 | |||||
| 3.3.1 |
| Appropriationtosurplusreserves | ||||||
| 3.3.2Appropriationtogeneralreserve | ||||||
| 3.3.3Appropriationtoowners(orshareholders) | -14,034,358.15 | -14,034,358.15 | -14,034,358.15 | |||
| 3.3.4Other | ||||||
| 3.4Transferswithinowners’equity | ||||||
| 3.4.1Increaseincapital(orsharecapital)fromcapitalreserves | ||||||
| 3.4.2Increaseincapital(orsharecapital)fromsurplusreserves | ||||||
| 3.4.3Lossoffsetbysurplusreserves | ||||||
| 3.4.4Changesin |
| definedbenefitschemestransferredtoretainedearnings | |||||||||||||
| 3.4.5Othercomprehensiveincometransferredtoretainedearnings | |||||||||||||
| 3.4.6Other | |||||||||||||
| 3.5Specificreserve | |||||||||||||
| 3.5.1Increaseintheperiod | |||||||||||||
| 3.5.2Usedintheperiod | |||||||||||||
| 3.6Other | |||||||||||||
| 4.Balanceasattheendoftheperiod | 561,374,326.00 | 164,328,665.43 | 351,736,375.00 | 15,182,958.83 | 320,134,414.23 | 724,586,493.69 | 2,137,343,233.18 | 19,667,494.46 | 2,157,010,727.64 |
Legalrepresentative:ShiXinkunGeneralManager:ZhangXinHeadoftheaccountingdepartment:JiangHe
8.StatementsofChangesinOwners’EquityoftheCompanyastheParentH12020
Unit:RMB
| Item | H12020 | |||||||||||
| Sharecapital | Otherequityinstruments | Capitalreserves | Less:Treasurystock | Othercomprehensiveincome | Specificreserve | Surplusreserves | Retainedearnings | Other | Totalowners’equity | |||
| Preferredshares | Perpetualbonds | Other | ||||||||||
| 1.Balanceasattheendoftheprioryear | 561,374,326.00 | 183,071,147.70 | 317,059,775.00 | 17,560,202.07 | 322,226,700.34 | 648,776,959.53 | 2,050,069,110.64 | |||||
| Add:Adjustmentforchangeinaccountingpolicy | ||||||||||||
| Adjustmentforcorrectionofpreviouserror | 1,833.38 | 16,500.44 | 18,333.82 | |||||||||
| Otheradjustments | ||||||||||||
| 2.Balanceasatthebeginningoftheyear | 561,374,326.00 | 183,071,147.70 | 317,059,775.00 | 17,560,202.07 | 322,228,533.72 | 648,793,459.97 | 2,050,087,444.46 | |||||
| 3.Increase/decreaseintheperiod(“-”fordecrease) | -60,040,175.00 | 878,448.44 | 23,901,288.11 | -35,260,438.45 | ||||||||
| 3.1Totalcomprehensiveincome | -59,691,806.33 | 23,552,919.44 | -36,138,886.89 | |||||||||
| 3.2Capital | ||||||||||||
| increasedandreducedbyowners | ||||
| 3.2.1Ordinarysharesincreasedbyowners | ||||
| 3.2.2Capitalincreasedbyholdersofotherequityinstruments | ||||
| 3.2.3Share-basedpaymentsincludedinowners’equity | ||||
| 3.2.4Other | ||||
| 3.3Profitdistribution | ||||
| 3.3.1Appropriationtosurplusreserves | ||||
| 3.3.2Appropriationtoowners(orshareholders) | ||||
| 3.3.3Other | ||||
| 3.4Transferswithinowners’equity | -348,368.67 | 348,368.67 |
| 3.4.1Increaseincapital(orsharecapital)fromcapitalreserves | |||||||
| 3.4.2Increaseincapital(orsharecapital)fromsurplusreserves | |||||||
| 3.4.3Lossoffsetbysurplusreserves | |||||||
| 3.4.4Changesindefinedbenefitschemestransferredtoretainedearnings | |||||||
| 3.4.5Othercomprehensiveincometransferredtoretainedearnings | -348,368.67 | 348,368.67 | |||||
| 3.4.6Other | |||||||
| 3.5Specificreserve | 878,448.44 | 878,448.44 | |||||
| 3.5.1Increaseintheperiod | 1,883,145.87 | 1,883,145.87 | |||||
| 3.5.2Usedintheperiod | 1,004,697.43 | 1,004,697.43 | |||||
| 3.6Other |
| 4.Balanceasattheendoftheperiod | 561,374,326.00 | 183,071,147.70 | 257,019,600.00 | 18,438,650.51 | 322,228,533.72 | 672,694,748.08 | 2,014,827,006.01 |
H12019
Unit:RMB
| Item | H12019 | |||||||||||
| Sharecapital | Otherequityinstruments | Capitalreserves | Less:Treasurystock | Othercomprehensiveincome | Specificreserve | Surplusreserves | Retainedearnings | Other | Totalowners’equity | |||
| Preferredshares | Perpetualbonds | Other | ||||||||||
| 1.Balanceasattheendoftheprioryear | 561,374,326.00 | 183,071,147.70 | 264,405,675.00 | 15,182,958.83 | 320,133,050.15 | 643,980,742.64 | 1,988,147,900.32 | |||||
| Add:Adjustmentforchangeinaccountingpolicy | ||||||||||||
| Adjustmentforcorrectionofpreviouserror | 1,364.08 | 1,364.08 | ||||||||||
| Otheradjustments | ||||||||||||
| 2.Balanceasatthebeginningoftheyear | 561,374,326.00 | 183,071,147.70 | 264,405,675.00 | 15,182,958.83 | 320,134,414.23 | 643,980,742.64 | 1,988,149,264.40 | |||||
| 3.Increase/decreaseintheperiod(“-”for | 87,330,700.00 | 4,358,502.17 | 91,689,202.17 | |||||||||
| decrease) | ||||||
| 3.1Totalcomprehensiveincome | 87,330,700.00 | 18,392,860.32 | 105,723,560.32 | |||
| 3.2Capitalincreasedandreducedbyowners | ||||||
| 3.2.1Ordinarysharesincreasedbyowners | ||||||
| 3.2.2Capitalincreasedbyholdersofotherequityinstruments | ||||||
| 3.2.3Share-basedpaymentsincludedinowners’equity | ||||||
| 3.2.4Other | ||||||
| 3.3Profitdistribution | -14,034,358.15 | -14,034,358.15 | ||||
| 3.3.1Appropriationtosurplusreserves | ||||||
| 3.3.2Appropriationtoowners(or | -14,034,358.15 | -14,034,358.15 |
| shareholders) |
| 3.3.3Other |
| 3.4Transferswithinowners’equity |
| 3.4.1Increaseincapital(orsharecapital)fromcapitalreserves |
| 3.4.2Increaseincapital(orsharecapital)fromsurplusreserves |
| 3.4.3Lossoffsetbysurplusreserves |
| 3.4.4Changesindefinedbenefitschemestransferredtoretainedearnings |
| 3.4.5Othercomprehensiveincometransferredtoretainedearnings |
| 3.4.6Other |
| 3.5Specificreserve | ||||||||||
| 3.5.1Increaseintheperiod | ||||||||||
| 3.5.2Usedintheperiod | ||||||||||
| 3.6Other | ||||||||||
| 4.Balanceasattheendoftheperiod | 561,374,326.00 | 183,071,147.70 | 351,736,375.00 | 15,182,958.83 | 320,134,414.23 | 648,339,244.81 | 2,079,838,466.57 |
Legalrepresentative:ShiXinkunGeneralManager:ZhangXinHeadoftheaccountingdepartment:JiangHe
III.CompanyProfile
ChangchaiCompany,Limited(hereinafterreferredtoas“theCompany”)wasfoundedon5May1994,whichisacompanylimitedbysharespromotedsolelybyChangzhouDieselEnginePlantthroughtheapprovalbytheStateCommissionforRestructuringtheEconomicSystemswithdocumentTGS[1993]No.9on15January1993bywayofpublicofferingofshares.WiththeapprovedofthePeople’sGovernmentofJiangsuProvinceSZF[1993]No.67,aswellasreexaminedandapprovedbyChinaSecuritiesRegulatoryCommission(“CSRC”)throughdocumentZJFSZ(1994)No.9,theCompanyinitiallyissuedAsharestothepublicfrom15March1994to30March1994.AsapprovedbytheShenzhenStockExchangethroughdocumentSZSFZ(1994)No.15,suchtradablesharesofthepublicgotlistingon1July1994atShenzhenStockExchangewith“SuChangchaiA”forshortofstock,aswellas“0570”asstockcode(presentstockcodeis“000570”).In1996,withtherecommendationoftheOfficeofthePeople’sGovernmentofJiangsuProvinceSZBH[1996]No.13,aswellasfirstreviewbyShenzhenMunicipalSecuritiesAdministrationOfficethroughSZBZ[1996]No.24,andapprovaloftheStateCouncilSecuritiesCommissionZWF[1996]No.27,theCompanyissued100millionBsharestoqualifiedinvestorson27August1996to30August1996,gettinglistedon13September1996.On9June2006,theCompanyheldashareholders’generalmeetingrelatedtoAsharesmarkettoexamineandapprovesharemergerreformplan,andperformedthesharemergerreformon19June2006.Asexaminedandapprovedatthe2
nd
ExtraordinaryGeneralMeetingof2009inSeptember2009,basedonthetotalsharecapitalof374,249,551sharesasat30June2009,theCompanyimplementedtheprofitdistributionplan,i.e.todistribute5bonussharesandcashofRMB0.80forevery10shares,withregisteredcapitalincreasedbyRMB187,124,775.00,aswellasregisteredcapitalofRMB561,374,326.00afterchange.Asat31December2015,thetotalsharecapitaloftheCompanyis561,374,326.00shares,aswellasregisteredcapitalofRMB561,374,326.00,whichverifiedbyJiangsuGongzhengTianyeCertifiedPublicAccountantsCompanyLimitedwithissuingCapitalVerificationReportSGC[2010]No.B002.AndtheunifiedsocialcreditcodeoftheenterprisebusinesslicenseoftheCompanyis91320400134792410W.TheCompany’sregisteredaddressissituatedatNo.123HuaideMiddleRoad,Changzhou,Jiangsu,aswellasitsheadofficelocatedatNo.123HuaideMiddleRoad,Changzhou,Jiangsu.TheCompanybelongstomanufacturingwithbusinessscopeincludingmanufacturingandsaleofdieselengine,dieselenginespartandcasting,grainharvestingmachine,rotarycultivators,walkingtractor,mouldandfixtures,assemblingandsaleofdieselgeneratingsetandpumpingunit.TheCompanymainlyengagedintheproductionandsalesofsmallandmedium-sizedsinglecylindersandmulti-cylinderdieselenginewiththelabelofChangchaiBrand.ThedieselengineproducedandsoldbytheCompanyweremainlyusedintractors,combineharvestmodels,lightcommercialvehicle,farmequipment,small-sizedconstructionmachinery,generatingsetsandmarineengineandequipment,etc.TheCompany’scorebusinessremainedunchangedintheReportingPeriod.TheCompanyestablishedtheShareholders’GeneralMeeting,theBoardofDirectorsandtheSupervisoryCommittee,Corporateoffice,FinancialDepartment,PoliticalDepartment,InvestmentandDevelopmentDepartment,AuditDepartment,HumanRecoursesDepartment,ProductionDepartment,ProcurementDepartment,SalesCompany,ChiefEngineerOffice,TechnologyCenter,QADepartment,FoundryBranch,
MachineProcessingBranch,Single-cylinderEnginebranch,Multi-cylinderEngineBranchandOverseasBusinessDepartmentintheCompany.ThefinancialreporthasbeenapprovedtobeissuedbytheBoardofDirectorson29July2020.TheconsolidatedscopeoftheCompanyoftheReportingPeriodincludestheCompanyastheparentand7subsidiaries.ForthedetailsoftheconsolidatedscopeoftheReportingPeriodandthechangessituation,pleaserefertothechangesoftheconsolidatedscopeofthenotestothefinancialreportandthenotestotheequitiesamongotherentities.IV.BasisforPreparationoftheFinancialReport
1.BasisforPreparationWiththegoing-concernassumptionasthebasisandbasedontransactionsandothereventsthatactuallyoccurred,theGrouppreparedfinancialstatementsinaccordancewithTheAccountingStandardsforBusinessEnterprises—BasicStandardissuedbytheMinistryofFinancewithDecreeNo.33andrevisedwithDecreeNo.76,thevariousspecificaccountingstandards,theApplicationGuidanceofAccountingStandardsforBusinessEnterprises,theInterpretationofAccountingStandardsforBusinessEnterprisesandotherregulationsissuedandrevisedfrom15February2006onwards(hereinafterjointlyreferredtoas“theAccountingStandardsforBusinessEnterprises”,“ChinaAccountingStandards”or“CAS”),aswellastheRulesforPreparationConventionofDisclosureofPublicOfferingCompaniesNo.15–GeneralRegulationsforFinancialReporting(revisedin2014)byChinaSecuritiesRegulatoryCommission.InaccordancewithrelevantprovisionsoftheAccountingStandardsforBusinessEnterprises,theGroupadoptedtheaccrualbasisinaccounting.Exceptforsomefinancialinstruments,whereimpairmentoccurredonanasset,animpairmentreservewaswithdrawnaccordinglypursuanttorelevantrequirements.
2.ContinuationTheCompanycomprehensivelyevaluatedtheinformationacquiredrecentlythattherewouldbenosuchfactorsinthe12monthsfromtheendoftheReportingPeriodthatwouldobviouslyinfluencethecontinuationcapabilityoftheCompanyandpredictedthattheoperatingactivitieswouldcontinueinthefuture12monthsoftheCompany.Thefinancialstatementcompiledbaseonthecontinuousoperation.V.ImportantAccountingPoliciesandEstimations
Notificationofspecificaccountingpoliciesandaccountingestimations:
TheCompanyandeachsubsidiaryaccordingtotheactualproductionandoperationcharacteristicsandinaccordwiththeregulationsoftherelevantASBE,formulatedcertainspecificaccountingpoliciesandaccountingestimations,whichmainlyreflectedinthefinancialinstruments,withdrawalmethodofthebaddebtprovisionoftheaccountsreceivable,themeasurementoftheinventoryandthedepreciationofthefixedassetsetc.
1.StatementofCompliancewiththeAccountingStandardsforBusinessEnterprisesThefinancialstatementspreparedbytheGroupareincompliancewithincompliancewiththeAccountingStandardsforBusinessEnterprises,whichfactuallyandcompletelypresenttheCompany’sandtheGroup’sfinancialpositions,businessresultsandcashflowsandotherrelevantinformation.
2.FiscalPeriodThefiscalperiodsaredividedintofiscalyearandmetaphase,thefiscalyearisfromJanuary1toDecember31andasthemetaphaseincludedmonthly,quarterlyandsemi-yearlyperiods.
3.OperatingCycleAnormaloperatingcyclereferstoaperiodfromtheGrouppurchasingassetsforprocessingtorealizingcashorcashequivalents.AnoperatingcyclefortheGroupis12months,whichisalsotheclassificationcriterionfortheliquidityofitsassetsandliabilities.
4.CurrencyUsedinBookkeepingRenminbiisfunctionalcurrencyoftheCompany.
5.AccountingMethodsforBusinessCombinationsundertheSameControlandBusinessCombinationsnotundertheSameControl
(1)Businesscombinationsunderthesamecontrol:
Abusinesscombinationunderthesamecontrolisabusinesscombinationinwhichallofthecombiningenterprisesareultimatelycontrolledbythesamepartyorthesamepartiesbothbeforeandafterthebusinesscombinationandonwhichthecontrolisnottemporary.Forthemergerofenterprisesunderthesamecontrol,iftheconsiderationofthemergingenterpriseisthatitmakespaymentincash,transfersnon-cashassetsorbearitsdebts,itshall,onthedateofmerger,regardtheshareofthebookvalueoftheowner'sequityofthemergedenterpriseastheinitialcostofthelong-termequityinvestment.Thedifferencebetweentheinitialcostofthelong-termequityinvestmentandthepaymentincash,non-cashassetstransferredaswellasthebookvalueofthedebtsbornebythemergingpartyshalloffsetagainstthecapitalreserve.Ifthecapitalreserveisinsufficienttodilute,theretainedearningsshallbeadjusted.Iftheconsiderationofthemergingenterpriseisthatitissuesequitysecurities,itshall,onthedateofmerger,regardtheshareofthebookvalueoftheowner'sequityofthemergedenterpriseastheinitialcostofthelong-termequityinvestment.Thetotalfacevalueofthestocksissuedshallberegardedasthecapitalstock,whilethedifferencebetweentheinitialcostofthelong-termequityinvestmentandtotalfacevalueofthesharesissuedshalloffsetagainstthecapitalreserve.Ifthecapitalreserveisinsufficienttodilute,theretainedearningsshallbeadjusted.Alldirectcostsforthebusinesscombination,includingexpensesforaudit,evaluatingandlegalservices
shallberecordedintotheprofitsandlossesatthecurrentperiod.Theexpensessuchasthehandlingchargesandcommissionetc,premiumincomeofdeductingtheequitysecurities,andasforthepremiumincomewasinsufficienttodilute,theretainedearningsshallbewrittendown.Owningtothereasonssuchastheadditionalinvestment,fortheequityinvestmentheldbeforeacquiringthecontrolrightofthecombinedparties,theconfirmedrelevantgainsandlosses,othercomprehensiveincomeandthechangesofothernetassetssincethedateoftheearlieronebetweenthedatewhenacquiringtheoriginalequityrightandthedatewhenthecombinepartiesandcombinedoneswereunderthesamecontroltothecombinationdate,shouldberespectivelywrittendownandcomparedwiththebeginningbalanceofretainedearningsorthecurrentgainsandlossesduringthestatementperiod.
(2)BusinesscombinationsnotunderthesamecontrolAbusinesscombinationnotunderthesamecontrolisabusinesscombinationinwhichthecombiningenterprisesarenotultimatelycontrolledbythesamepartyorthesamepartiesbothbeforeandafterthebusinesscombination.Thecombinationcostsoftheacquirerandtheidentifiablenetassetsobtainedbytheacquirerinabusinesscombinationshallbemeasuredatthefairvalues.Theacquirershallrecognizethepositivebalancebetweenthecombinationcostsandthefairvalueoftheidentifiablenetassetsitobtainsformstheacquireeasbusinessreputation.Thedirectrelevantexpensesoccurredfromtheenterprisecombinationshouldbeincludedinthecurrentgainsandlosseswhenoccurred.Thecombinationcostsoftheacquirerandtheidentifiablenetassetsobtainedbyitinthecombinationshallbemeasuredaccordingtotheirfairvaluesattheacquiringdate.ThedifferencebetweenthefairvalueoftheassetspaidoutbytheCompanyanditsbookvalueshouldbeincludedinthecurrentgainsandlosses.Thepurchasedatereferstothedatethatthepurchaseracquiresthecontrolrightoftheacquiree.Forthebusinesscombinationsnotunderthesamecontrolrealizedthroughstepbystepmultipletransaction,asfortheequityintereststhattheGroupholdsintheacquireebeforetheacquiringdate,theyshallbere-measuredaccordingtotheirfairvaluesattheacquiringdate;thepositivedifferencebetweentheirfairvaluesandcarryingamountsshallberecordedintotheinvestmentgainsfortheperiodincludingtheacquiringdate.Theequityholedbytheacquireewhichinvolvedwiththeothercomprehensiveincomeandtheotherowners’equitieschangesexceptforthenetgainsandlosses,othercomprehensiveincomeandtheprofitsdistributionandotherrelatedcomprehensivegainsandotherowners’equitieswhichinrelationtotheequityintereststhattheGroupholdsintheacquireebeforetheacquiringdateshouldbetransferredintothecurrentinvestmentincomeontheacquiringdate,exceptfortheothercomprehensiveincomeoccurredfromthere-measurementofthenetprofitsofthedefinedbenefitplansorthechangesofthenetassetsoftheinvestees.
6.MethodsforPreparingConsolidatedFinancialStatementsTheCompanyconfirmstheconsolidatedscopebasedonthecontrolandincludesthesubsidiarieswithactualcontrolrightintotheconsolidatedfinancialstatement.TheconsolidatedfinancialstatementoftheCompanyiscompiledaccordingtotheregulationsofNo.33ofASBE-ConsolidatedFinancialStatementandtherelevantregulationsandasforthewholesignificantcome-and-gobalance,investment,transactionandtheunrealizedprofitsshouldbewrittenoffwhencompilingtheconsolidatedfinancialstatement.Theportionofasubsidiary’sshareholders’equityandthe
portionofasubsidiary’snetprofitsandlossesfortheperiodnotheldbytheGrouparerecognizedasminorityinterestsandminorityshareholderprofitsandlossesrespectivelyandpresentedseparatelyundershareholders’equityandnetprofitsintheconsolidationfinancialstatements.Theportionofasubsidiary’snetprofitsandlossesfortheperiodthatbelongtominorityinterestsispresentedastheitemof“minorityshareholderprofitsandlosses”underthebiggeritemofnetprofitsintheconsolidatedfinancialstatements.Wherethelossofasubsidiarysharedbyminorityshareholdersexceedstheportionenjoyedbyminorityshareholdersinthesubsidiary’sopeningowners’equity,minorityinterestsareoffset.TheaccountingpolicyoraccountingperiodofeachsubsidiaryisdifferentfromwhichoftheCompany,whichshallbeadjustedastheCompany;orsubsidiariesshallpreparefinancialstatementagainrequiredbytheCompanywhenpreparingtheconsolidatedfinancialstatements.Asfortheaddedsubsidiarycompanynotcontrolledbythesameenterprisepreparingtheconsolidatedfinancialstatement,shalladjustindividualfinancialstatementbasedonthefairvalueoftheidentifiablenetassetsontheacquisitiondate;asfortheaddedsubsidiarycompaniescontrolledbythesameenterprisepreparingthefinancialstatement,shallnotadjustthefinancialstatementofthesubsidiaries,namelysurvivedbyintegrationasparticipatingintheconsolidationwhenthefinalcontrolpartystartsimplementingcontrolandshouldadjusttheperiod-beginamountoftheconsolidatedbalancesheetandatthesametimeadjusttherelevantitemsofthecomparedstatement.Asforthedisposedsubsidiaries,theoperationresultandthecashflowshouldbeincludedintheconsolidatedincomestatementandtheconsolidatedcashflowbeforethedisposingdate;thedisposedsubsidiariesofthecurrentperiod,shouldnotbeadjustedtheperiod-beginamountoftheconsolidatedbalancesheet.WheretheGrouplossescontrolonitsoriginalsubsidiariesduetodisposalofsomeequityinvestmentsorotherreasons,theresidualequityinterestsarere-measuredaccordingtothefairvalueonthedatewhensuchcontrolceases.Thesummationoftheconsiderationobtainedfromthedisposalofequityinterestsandthefairvalueoftheresidualequityinterests,minustheportionintheoriginalsubsidiary’snetassetsmeasuredonacontinuousbasisfromtheacquisitiondatethatisenjoyablebytheGroupaccordingtotheoriginalshareholdingpercentageinthesubsidiary,isrecordedininvestmentgainsfortheperiodwhentheGroup’scontrolonthesubsidiaryceases.Othercomprehensiveincomesinrelationtotheequityinvestmentandtheotherowners’equitieschangesexceptforthenetgainsandlosses,othercomprehensiveincomeandprofitsdistributionintheoriginalsubsidiaryaretreatedonthesameaccountingbasisastheacquireedirectlydisposestherelevantassetsorliabilities(thatis,exceptforthechangesinthenetliabilitiesorassetswithadefinedbenefitplanresultedfromre-measurementoftheoriginalsubsidiary,therestshallallbetransferredintocurrentinvestmentgains)whensuchcontrolceases.AndsubsequentmeasurementisconductedontheresidualequityinterestsaccordingtotheNo.2AccountingStandardforBusinessEnterprises-Long-termEquityInvestmentsortheNo.22AccountingStandardforBusinessEnterprises-RecognitionandMeasurementofFinancialInstruments.Forthedisposalofequityinvestmentbelongstoapackagedeal,shouldbeconsideredasatransactionandconductaccountingtreatment.However,Beforelosingcontrol,everydisposalcostandcorrespondingnetassetsbalanceofsubsidiaryofdisposalinvestmentareconfirmedasothercomprehensiveincomeinconsolidatedfinancialstatements,whichtogethertransferredintothecurrentprofitsandlossesinthelossofcontrol,whentheGrouplosingcontrolonitssubsidiary.
Forthedisposaloftheequityinvestmentnotbelongstoapackagedeal,shouldbeexecutedaccountingtreatmentaccordingtotherelevantpoliciesofpartlydisposingtheequityinvestmentofthesubsidiariesunderthesituationnotlosethecontrolrightbeforelosingthecontrolright;whenlosingthecontrolright,theformershouldbeexecutedaccountingtreatmentaccordingtothegeneraldisposingmethodofthedisposalofthesubsidiaries.
7.ClassificationofJointArrangementsandAccountingTreatmentofJointOperationsTheGroupclassifiesjointarrangementsintojointoperationsandjointventures.AjointoperationreferstoajointarrangementwheretheGroupisthejointoperationspartyofthejointarrangementandenjoysassetsandhastobearliabilitiesrelatedtothearrangement.TheCompanyconfirmsthefollowingitemsrelatedtotheinterestsshareamongthejointoperationsandexecutesaccountingtreatmentaccordingtotheregulationsoftherelevantASBE:
(1)Recognizestheassetsthatitholdsandbearsinthejointoperationandrecognizesthejointly-heldassetsaccordingtotheGroup’sstakeinthejointoperation;
(2)Recognizestheliabilitiesthatitholdsandbearsinthejointoperationandrecognizesthejointly-heldliabilitiesaccordingtotheGroup’sstakeinthejointoperation;
(3)RecognizestheincomefromsaleoftheGroup’sshareintheoutputofthejointoperation
(4)Recognizestheincomefromsaleofthejointoperation’soutputsaccordingtotheGroup’sstakeinit
(5)RecognizestheexpensesolelyincurredtotheGroupandtheexpenseincurredtothejointoperationaccordingtotheGroup’sstakeinit.
8.RecognitionStandardforCashandCashEquivalentsIntheGroup’sunderstanding,cashandcashequivalentsincludecashonhand,anydepositthatcanbeusedforcover,andshort-term(usuallyduewithin3monthssincethedayofpurchase)andhighcirculatinginvestments,whichareeasilyconvertibleintoknownamountofcashandwhoserisksinchangeofvalueareminimal.
9.ForeignCurrencyBusinessesandTranslationofForeignCurrencyFinancialStatements
(1)ForeigncurrencybusinessConcerningtheforeign-currencytransactionsthatoccurred,theforeigncurrencyshallbeconvertedintotherecordingcurrencyaccordingtothemiddlepriceofthemarketexchangeratedisclosedbythePeople’sBankofChinaonthedateofthetransaction.Amongthesaidtransactionsthatoccurred,thoseinvolvingforeignexchangesshallbeconvertedaccordingtotheexchangeratesadoptedintheactualtransactions.Onthebalancesheetdate,theforeign-currencymonetaryassetsandthebalanceoftheliabilityaccountshallbeconvertedintotherecodingcurrencyaccordingtothemiddlepriceofthemarketexchangeratesdisclosedbythePeople’sBankofChinaontheBalanceSheetDate.Thedifferencebetweentherecording-currencyamountconvertedaccordingtotheexchangerateontheBalanceSheetDateandtheoriginalbookrecording-currencyamountshallberecognizedasgains/lossesfromforeignexchange.Andtheexchangegain/losscausedbytheforeign-currencyborrowingsrelatedtopurchasingfixedassetsshall
behandledaccordingtotheprincipleofcapitalizingborrowingexpenses;theexchangegain/lossincurredintheestablishmentperiodshallberecordedintotheestablishmentexpense;othersshallberecordedintothefinancialexpensesforthecurrentperiod.Onthebalancesheetdate,theforeign-currencynon-monetaryitemsmeasuredbyhistoricalcostshallbeconvertedaccordingtothemiddlepriceofthemarketexchangedisclosedbythePeople’sBankofChinaonthedateofthetransaction,withnochangesintheoriginalrecording-currencyamount;whiletheforeign-currencynon-monetaryitemsmeasuredbyfairvalueshallbeconvertedaccordingtothemiddlepriceofthemarketexchangedisclosedbythePeople’sBankofChinaonthedatewhenthefairvalueisrecognized,andtheexchangegain/losscausedthereofshallberecognizedasthegain/lossfromfairvaluechangesandrecordedintothegain/lossofthecurrentperiod.
(2)TranslationofforeigncurrencyTheassetsandliabilitiesitemsamongthebalancesheetoftheforeignoperationshallbetranslatedataspotexchangerateonthebalancesheetdate.Amongtheowner’sequityitems,exceptfortheitemsas“undistributedprofits”,otheritemsshallbetranslatedatthespotexchangerateatthetimewhentheyareincurred.Andtherevenuesandexpensesitemsamongthebalancesheetoftheforeignoperationshallbetranslatedattheapproximateexchangerateofthetransactiondate.Thedifferencecausedfromtheabovetransactionoftheforeigncurrencystatementshouldbelistedintheothercomprehensiveincomeamongtheowners’equities.
10.FinancialInstruments
(1)ClassificationofFinancialInstrumentsTheCompanyclassifiesthefinancialassetswheninitiallyrecognizedintothefollowingthreecategoriesbasedonthebusinessmodelforfinancialassetsmanagementandcharacteristicsofcontractualcashflowoffinancialassets:financialassetsmeasuredatamortizedcost,financialassetsatfairvaluethroughothercomprehensiveincome(debtinstruments)andfinancialassetsatfairvaluethroughprofitorlossFinancialliabilitieswereclassifieswheninitiallyrecognizedintofinancialliabilitiesatfairvaluethroughprofitorlossandfinancialliabilitiesmeasuredatamortizedcost.
(2)RecognitionBasisandMeasurementMethodforFinancialInstruments
①FinancialassetsmeasuredatamortizedcostFinancialassetsatamortizedcostincludenotesreceivable,accountsreceivable,otherreceivables,long-termreceivables,andinvestmentindebtobligationswhichareinitiallymeasuredatfairvalueandrelatedtransactioncostshallberecordedintotheinitialrecognizedamount.ForaccountsreceivableexcludingsignificantfinancingandaccountsreceivablethattheCompanydecidesnottoconsiderfinancingcomponentslessthanoneyear,theinitialmeasurementshallbemadeatthecontracttransactionprice.Theinterestcalculatedwithactualratesfortheholdingperiodshallberecordedintothecurrentprofitorloss.Whenrecoveredordisposed,thedifferencebetweenthepriceobtainedandthecarryingvalueofthefinancialassetsshallberecordedintothecurrentprofitorloss.
②Financialassetsatfairvaluethroughothercomprehensiveincome(debtinstruments)Financialassetsatfairvaluethroughothercomprehensiveincome(debtinstruments)includeaccountsreceivablefinancingandinvestmentinotherdebtobligationswhichareinitiallymeasuredatfairvalueandrelatedtransactioncostshallberecordedintotheinitialrecognizedamount.Thesubsequentmeasurement
ofthefinancialassetsshallbeatfairvalueandchangesoffairvalueexceptforinterestcalculatedwithactualrates,impairmentlossesorgainsandexchangegainsorlossesshallberecordedintoothercomprehensiveincome.Whenderecognized,theaccumulatedgainsorlossesoriginallyrecordedintoothercomprehensiveincomeshallbetransferredintothecurrentprofitorloss.
③Financialassetsatfairvaluethroughothercomprehensiveincome(equityinstruments)Financialassetsatfairvaluethroughothercomprehensiveincome(equityinstruments)includeinvestmentinotherequityinstruments,etc.whichareinitiallymeasuredatfairvalueandrelatedtransactioncostshallberecordedintotheinitialrecognizedamount.Thesubsequentmeasurementofthefinancialassetsshallbeatfairvalueandchangesoffairvalueshallberecordedintoothercomprehensiveincome.Thedividendsobtainedshallberecordedintothecurrentprofitorloss.Whenderecognized,theaccumulatedgainsorlossesoriginallyrecordedintoothercomprehensiveincomeshallbetransferredintoretainedearnings.
④FinancialassetsatfairvaluethroughprofitorlossFinancialassetsatfairvaluethroughprofitorlossincludeheld-for-tradingfinancialassets,derivativefinancialassetsandothernon-currentfinancialassetswhichareinitiallymeasuredatfairvalueandtherelatedtransactioncostshallberecordedintothecurrentprofitorloss.Thesubsequentmeasurementofthefinancialassetsshallbeatfairvalueandthechangesoffairvalueshallberecordedintothecurrentprofitorloss.
⑤FinancialliabilitiesatfairvaluethroughprofitorlossFinancialliabilitiesatfairvaluethroughprofitorlossincludeheld-for-tradingfinancialliabilitiesandderivativefinancialliabilitieswhichareinitiallymeasuredatfairvalueandtherelatedtransactioncostshallberecordedintothecurrentprofitorloss.Thesubsequentmeasurementofthefinancialliabilitiesshallbeatfairvalueandthechangesoffairvalueshallberecordedintothecurrentprofitorloss.Whenderecognized,thedifferencebetweenthecarryingvalueandthepaidconsiderationshallberecordedintothecurrentprofitorloss.
⑥FinancialliabilitiesatamortizedcostFinancialliabilitiesatamortizedcostincludeshort-termborrowings,notespayable,accountspayable,otherpayables,long-termborrowings,bondspayableandlong-termpayableswhichareinitiallymeasuredatfairvalueandtherelatedtransactioncostshallberecordedintotheinitialrecognizedamount.Theinterestcalculatedwithactualratesfortheholdingperiodshallberecordedintothecurrentprofitorloss.Whenderecognized,thedifferencebetweenthepaidconsiderationandthecarryingvalueofthefinancialliabilitiesshallberecordedintothecurrentprofitorloss.
(3)RecognitionBasisandMeasurementofTransferofFinancialAssetsWheretheCompanyhastransferrednearlyalloftherisksandrewardsrelatedtotheownershipofthefinancialassettothetransferee,itshallstoprecognizingthefinancialassetandseparatelyrecognizetherightsandobligationsgeneratedretainedfromthetransferasassetsorliabilities.Ifitretainednearlyalloftherisksandrewardsrelatedtotheownershipofthefinancialasset,itshallcontinuetorecognizethetransferredfinancialasset.WheretheCompanydoesnottransferorretainnearlyalloftherisksandrewardsrelatedtotheownershipofafinancialasset,itshalldealwithitaccordingtothecircumstancesasfollows,respectively:(1)Ifitgivesupitscontroloverthefinancialasset,itshallstoprecognizingthefinancialassetandseparatelyrecognizetherightsandobligationsgeneratedretainedfromthetransferasassetsorliabilities;(2)Ifitdoesnotgiveupitscontroloverthefinancialasset,itshall,accordingtotheextentofitscontinuousinvolvementinthetransferredfinancialasset,recognizetherelatedfinancialasset
andrecognizetherelevantliabilityaccordingly.Ifthetransferofanentirefinancialassetsatisfiestheconditionsforstoppingrecognition,thedifferencebetweentheamountsofthefollowing2itemsshallberecordedintheprofitsandlossesofthecurrentperiod:(1)Thecarryingvalueofthetransferredfinancialassetonthederecognitiondate;(2)Thesumofconsiderationreceivedfromthetransferoffinancialassets,andderecognitionamountamongtheaccumulativeamountofthechangesofthefairvalueoriginallyrecordedintheothercomprehensiveincome(thefinancialassetsinvolvetransferareinvestmentsindebtinstrumentsatfairvaluethroughothercomprehensiveincome.Ifthetransferofpartialfinancialassetsatisfiestheconditionstostoptherecognition,theentirecarryingvalueofthetransferredfinancialassetshall,betweentheportionwhoserecognitionhasbeenstoppedandtheportionwhoserecognitionhasnotbeenstopped,beapportionedaccordingtotheirrespectiverelativefairvalueonthetransferdate,andthedifferencebetweentheamountsofthefollowingtwoitemsshallbeincludedintotheprofitsandlossesofthecurrentperiod:
(1)Thecarryingvalueoftheportionwhoserecognitionhasbeenstopped;(2)Thesumofconsiderationoftheportionwhoserecognitionhasbeenstopped,andderecognitionamountamongtheaccumulativeamountofthechangesofthefairvalueoriginallyrecordedintheothercomprehensiveincome(thefinancialassetsinvolvetransferareinvestmentsindebtinstrumentsatfairvaluethroughothercomprehensiveincome.
(4)DerecognitionBasisofFinancialLiabilitiesAfinancialliabilityorpartofitcanbederecognizedafteritscurrentobligationhasbeenrelievedinfullorinpart.
(5)RecognitionofFairValueofFinancialAssetsandFinancialLiabilitiesThefairvalueoffinancialinstrumentswithanactivemarketisdeterminedbythequotedpriceintheactivemarket.Forfinancialinstrumentswithoutactivemarket,thefairvalueisdeterminedbyvaluationtechniques.TheCompanyadoptsthevaluationtechniquesapplicabletothecurrentconditionswhicharesupportedbysufficientdataandotherinformationforvaluation,andselectstheinputvaluesconsistentwiththecharacteristicsofassetsorliabilitiesconsideredbymarketparticipantsinassetorliabilitytransactions,withprioritytoobservableinputvalues.Unobservableinputvaluesareusedonlywhenrelevantobservableinputvaluesarenotavailableorpractical.
(6)Impairmentoffinancialinstrument
①ImpairmentmeasurementandaccountinghandlingoffinancialinstrumentBasedonexpectedcreditloss,theCompanyconductsimpairmenthandlingandconfirmscreditimpairmentlossforfinancialassetswhichismeasuredbyamortizedcost,debtinstrumentinvestmentwhichismeasuredbyfairvalueandwhosechangeiscalculatedintoothercomprehensiveprofits,financialguaranteecontract.Expectedcreditlossreferstoweightedaverageofcreditlossoffinancialinstrumentwhichtakestheriskofcontractbreachoccurrenceastheweight.Creditlossreferstothedifferencebetweenallcontractcashflowwhichisconvertedintocashaccordingtoactualinterestrateandreceivableaccordingtocontractandallcashflowwhichtobechargedasexpected,i.e.currentvalueofallcashshortage.Amongit,asforfinancialassetpurchasedororiginalwhichhashadcreditimpairment,itshouldbeconvertedintocashaccordingactualinterestrateofthisfinancialassetaftercreditadjustment.Asforfinancialassetpurchasedororiginalwhichhashadcreditimpairment,theCompanyonlyconfirmscumulativechangeofexpectedcreditlosswithinthewholedurationafterinitialconfirmationonthe
balancesheetdateaslossreserve.Asforaccountsreceivablewhichdon’tincludemajorfinancingcontentsortheCompanydoesnotconsiderfinancingcontentsincontractwhichislessthanoneyear,theCompanyappliessimplifiedmeasurementmethod,andmeasureslossreserveaccordingtoamountofexpectedcreditlosswithinthewholeduration.Asforaccountreceivableofrentalandaccountsreceivableincludingmajorfinancingcontents,theCompanyappliessimplifiedmeasurementmethod,andmeasurelossreserveaccordingtoamountofexpectedcreditlosswithinthewholeduration.Asforfinancialassetbeyondabovementionedmeasurementmethods,theCompanyevaluateswhetheritscreditriskhasincreasedobviouslysincetheinitialconfirmationoneachbalancesheetdate.Incasecreditriskhasincreasedobviously,theCompanymeasuresthelossreserveaccordingtoamountofexpectedcreditlosswithinthewholeduration;incasethecreditriskdoesnotincreaseobviously,theCompanymeasureslossreserveaccordingtotheamountofexpectedcreditlossinnext12months.Byutilizingobtainablerationalandwellgroundedinformation,includingforward-lookinginformation,comparingtheriskofcontractbreachonbalancesheetdateandriskofcontractbreachoninitialconfirmationdate,theCompanyconfirmswhetherthecreditriskoffinancialinstrumenthasincreasedobviouslyfrominitialconfirmation.Onbalancesheetdate,incasetheCompanyjudgesthatthefinancialinstrumentjusthasrelativelylowcreditrisk,thenitwillbeassumedthatcreditriskofthefinancialinstrumenthasnotincreasedobviously.Basedonsinglefinancialinstrumentorfinancialportfolio,theCompanyevaluatesexpectedcreditriskandmeasuresexpectedcreditloss.Whenbasedonfinancialinstrumentportfolio,theCompanytakescommonriskcharacteristicsasthebasis,anddividesfinancialinstrumentsintodifferentportfolios.TheCompanymeasuresexpectedcreditlossagainoneachbalancesheetdate,theincreaseoflossreserveoramountwhichistransferbackgeneratedbyitiscalculatedintocurrentprofitsandlossesasimpairmentprofitsorlosses.Asforfinancialassetwhichismeasuredbyamortizedcost,lossreserveoffsetsthecarryingvalueofthefinancialassetlistedinthebalancesheet;asfordebtinvestmentwhichismeasuredbyfairvalueandwhosechangeiscalculatedintoothercomprehensiveprofits,theCompanyconfirmsitslossreserveinothercomprehensiveprofitsanddoesnotoffsetthecarryingvalueofthefinancialasset.
②Fornotesreceivable,accountsreceivable,otherreceivablesandlong-termreceivableswithobjectiveevidenceindicatingimpairmentandthosesuitableforindividualevaluation,theCompanycarriesoutimpairmenttestseparatelytoconfirmexpectedcreditlossandprepareprovisionforimpairmentofsingleitems.Fornotesreceivable,accountsreceivableandotherreceivableswithoutobjectiveevidenceofimpairment,orasinglefinancialassetwithexpectedcreditlossimpossibletobeassessedatareasonablecost,theCompanydividesthereceivablesintogroupsaccordingtothecharacteristicsofcreditrisk,andcalculatestheexpectedcreditlossbasedonreceivablegroups.AccountsreceivablewithexpectedcreditlossesmeasuredbygroupsSpecificgroupsandmethodofmeasuringexpectedcreditloss
| Item | Recognitionbasis | Methodofmeasuringexpectedcreditlosses |
| Bank’sacceptancebillsreceivable | Billtype | Consultinghistoricalexperienceincreditlosses,combiningcurrentsituationandpredictionforfutureeconomicsituation,theexpectedcreditlossshallbeaccountedthroughexposureatdefaultandtheexpected |
| Tradeacceptancebills |
| receivable | creditlossrateovertheentirelife | |
| Accountsreceivable-creditriskcharacteristicsgroup | Aginggroup | Preparethecomparativelistbetweenagingofaccountsreceivableandexpectedcreditlossrateovertheentirelifeandcalculatetheexpectedcreditlossbyconsultinghistoricalexperienceincreditlosses,combiningcurrentsituationandpredictionforfutureeconomicsituation |
| Accountsreceivable-intercoursefundsamongrelatedpartygroupwithintheconsolidationscope | Relatedpartywithintheconsolidationscope | Consultinghistoricalexperienceincreditlosses,combiningcurrentsituationandpredictionforfutureeconomicsituation,theexpectedcreditlossshallbeaccountedthroughexposureatdefaultandtheexpectedcreditlossrateovertheentirelife |
Accountsreceivable-thecomparativelistbetweenagingofcreditriskcharacteristicgroupandexpectedcreditlossrateovertheentirelife
| Aging | Withdrawalproportion |
| Within1year | 2.00% |
| 1to2years | 5.00% |
| 2to3years | 15.00% |
| 3to4years | 30.00% |
| 4to5years | 60.00% |
| Over5years | 100.00% |
OtherreceivableswithexpectedcreditlossesmeasuredbygroupsSpecificgroupsandmethodofmeasuringexpectedcreditloss
| Item | Recognitionbasis | Methodofmeasuringexpectedcreditlosses |
| Otherreceivables-aginganalysisgroup | Aginggroup | Consultinghistoricalexperienceincreditlosses,combiningcurrentsituationandpredictionforfutureeconomicsituation,theexpectedcreditlossshallbeaccountedthroughexposureatdefaultandtheexpectedcreditlossratewithinthenext12monthsorovertheentirelife |
| Otherreceivables-intercoursefundsamongrelatedpartygroupwithintheconsolidationscope | Relatedpartywithintheconsolidationscope | Consultinghistoricalexperienceincreditlosses,combiningcurrentsituationandpredictionforfutureeconomicsituation,theexpectedcreditlossshallbeaccountedthroughexposureatdefaultandtheexpectedcreditlossrateovertheentirelife |
Forthemeasurementofimpairmentlossofotherreceivables,refertotheaforesaidmeasurementof
impairmentlossofaccountsreceivable.
11.NotesReceivableSee“10.FinancialInstruments”.
12.AccountsReceivableSee“10.FinancialInstruments”.
13.Inventory
(1)CategoryofInventoryInventoryreferstotheheld-for-salefinishedproductsorcommodities,goodsinprocess,materialsconsumedintheproductionprocessortheprocessprovidingthelaborserviceetc.Inventoryismainlyincludingtherawmaterials,lowpricedandeasilywornarticles,unfinishedproducts,inventoriesandworkinprocess–outsourcedetc.
(2)PricingmethodPurchasingandstorageofthevariousinventoriesshouldbevaluedaccordingtotheplanedcostandthedispatchbecalculatedaccordingtotheweightedaveragemethod;carriedforwardthecostofthefinishedproductsaccordingtotheactualcostofthecurrentperiodandthesalescostaccordingtotheweightedaveragemethod.
(3)DeterminationbasisofthenetrealizablevalueofinventoryandwithdrawalmethodoftheprovisionforfallingpriceofinventoryAtthebalancesheetdate,inventoriesaremeasuredatthelowerofthecostsandnetrealizablevalue.Whenalltheinventoriesarecheckedroundly,forthosewhichweredestroyed,outdatedinallorinpart,soldataloss,etc,theCompanyshallestimatetheirrecoverablepartofitscostandwithdrawaltheinventoryfallingpricereserveattheyear-end.Wherethecostofthesingleinventoryitemishigherthanthenetrealizablevalue,theinventoryfallingpricereserveshallbewithdrawnandrecordedintoprofitsandlossesofthecurrentperiod.Ofwhich:inthenormalproductionandoperatingprocess,asforthecommoditiesinventorydirectlyforsalessuchasthefinishedproducts,commoditiesandthematerialsforsales,shouldrecognizethenetrealizablevalueaccordingtotheamountoftheestimatedsellingpriceoftheinventoryminusestheestimatedsellingexpensesandtherelevanttaxes;asforthematerialsinventoryneedstobeprocessedinthenormalproductionandoperatingprocess,shouldrecognizeitsnetrealizablevalueaccordingtotheamountoftheestimatedsellingpriceofthefinishedproductsminusesthecostpredictstobeoccurwhentheproductioncompletesandtheestimatedsellingexpensesaswellastherelevanttaxes;onthebalancesheetdate,forthesameinventorywithonepartagreedbythecontractpriceandotherpartsnotbythecontractprice,shouldberespectivelyrecognizedthenetrealizablevalue.Foritemsofinventoriesrelatingtoaproductlinethatareproducedandmarketedinthesamegeographicalarea,havethesameorsimilarendusersorpurposes,andcannotbepracticablyevaluatedseparatelyfromotheritemsinthatproductlineprovisionfordeclineinvalueisdeterminedonanaggregatebasis;forlargequantityandlowvalueitemsofinventories,provisionfordeclineinvalueismadebasedoncategoriesof
inventories.
(4)Theperpetualinventorysystemismaintainedforstocksystem.
(5)Amortizationmethodoflow-valueconsumablesandpackagesOnetimeamortizationmethodisadoptedforlow-valueconsumablesandpackages.
14.ContractAssetsContractAssetsmeansthattheCompanyisendowedwiththerighttochargetheconsiderationthroughtransferringanycommodityorservicetotheclient,andsuchrightdependsonotherfactorsexceptthepassingoftime.TheCompany’sunconditionalright(onlydependingonthepassingoftime)ofchargingtheconsiderationfromtheclientshallbeseparatelypresentedasreceivables.TherecognitionmethodandaccountingtreatmentmethodoftheestimatedcreditlossofcontractassetsareconsistentwiththatspecifiedinNotesV.12.
15.ContractCosts
(1)CostsfromAcquiringContractIftheincrementalcostresultingfromtheCompany’sacquiringofcontract(namelycostsmerelyresultingfromtheacquiringofcontract)ispredictedtoberetrieved,itshallberecognizedasanassets,amortizedbyadoptingthesamebasiswiththerecognitionofcommoditiesorservicerevenuesrelatedtotheassetsandincludedintothecurrentprofitandloss.Iftheassets’amortizationperioddoesnotexceedoneyear,itshallbeimmediatelyincludedintothecurrentprofitandloss.OtherexpensesresultingfromtheCompany’sacquiringofcontractshallalsobeincludedintothecurrentprofitandlossunlessitisexplicitlybornebytheclient.
(2)CostsfromExecutingContractTheCompany’scostsfromexecutingcontractisnotcoveredbyotherASBEexceptforRevenueStandards,andwhenthefollowingsituationsaremet,suchcostscanberecognizedasanassets:①thecostsaredirectlyrelatedtoacurrentorpredictedcontract;②thecostsincreasetheCompany’sresourcesappliedtofulfillperformanceobligationsinthefuture;③thecostsarepredictedtoberetrieved.Therecognizedassetsshallbeamortizedbyadoptingthesamebasiswiththerecognitionofcommoditiesorservicerevenuesrelatedtotheassetsandincludedintothecurrentprofitandloss.Ifthebookvalueofcontractcostsishigherthanthedifferenceofthefollowingtwoitems,correspondingdepreciationreservesshallbecountedandwithdrawnanditshallberecognizedastheassetsdepreciationloss:①theresidualconsiderationpredictedtobeacquiredbytransferringcommoditiesrelatedtotheassets;②thecostspredictedtooccurduetothetransferofrelatedcommodities.Ifthedifferencebetween①and②ishigherthanthebookvalueofcontractcostsduetoanychangeinvariousfactorscausingdepreciationinpreviousperiods,itshallberestitutedtothewithdrawnassetsdepreciationreservesandincludedinthecurrentprofitandloss.However,thebookvalueofrestitutedcontractcostsshallnotexceedthebookvalueoftheassetsonthedayofrestitutionbasedonthehypothesisthatdepreciationreservesarenotcountedandwithdrawn.
16.AssetsHeldforSaleTheCompanyrecognizesthecomponents(orthenon-currentassets)whichmeetwiththefollowingconditionsasassetsheldforsale:
(1)Thecomponentsmustbeimmediatelysoldonlyaccordingtotheusualtermsofsellingthiskindof
componentsunderthecurrentconditions;
(2)TheCompanyhadmadesolutionsondisposingthecomponents(orthenon-currentassets),forexample,theCompanyshouldgaintheapprovalfromtheshareholdersaccordingtotheregulationsandhadacquiredtheapprovedfromtheAnnualGeneralMeetingortherelevantauthorityinstitutions;
(3)TheCompanyhadsignedtheirrevocabletransformationagreementwiththetransferee;
(4)Thetransformationshouldbecompletedwithin1year.
17.Long-termEquityInvestments
(1)JudgmentstandardofjointcontrolandsignificantinfluencesJointcontrol,referstothecontroljointlyownedaccordingtotherelevantagreementonanarrangementbytheCompanyandtherelevantactivitiesofthearrangementshouldbedecidedonlyaftertheparticipantswhichsharethecontrolrightmakeconsensus.SignificantinfluencereferstothepoweroftheCompanywhichcouldanticipateinthefinanceandtheoperationpolicesoftheinvestees,butcouldnotcontrolorjointlycontroltheformulationofthepolicieswiththeotherparties.
(2)RecognitionforinitialinvestmentcostTheinitialinvestmentcostofthelong-termequityinvestmentshallberecognizedbyadoptingthefollowingwaysinaccordancewithdifferentmethodsofacquisition:
1)Asforthoseformsunderthesamecontroloftheenterprisecombine,ifthecombinepartytakesthecashpayment,non-cashassetstransformation,liabilitiesassumptionorequitysecuritiesissuanceasthecombinationconsideration,shouldtakethesharesofthebookvaluebytheultimatecontrolpartyintheconsolidatefinancialstatementoftheowners’equitiesofthecombinersacquiredonthemergerdateastheinitialinvestmentcost.Thedifferencebetweentheinitialinvestmentcostandthebookvalueofthepaidcombinationconsiderationorthetotalamountoftheissuedsharesofthelong-termequityinvestmentshouldbeadjustedthecapitalreserve;Ifthecapitalreserveisinsufficienttodilute,theretainedearningsshallbeadjusted.Toincludeeachdirectrelevantexpenseoccurredwhenexecutingtheenterprisemergerintothecurrentgainsandlosses;whilethehandlingchargesandcommissionoccursfromtheissuingtheequitysecuritiesorthebondsfortheenterprisemergershouldbeincludedintheinitialmeasurementamountoftheshareholders’equitiesortheliabilities.
2)Asforlong-termequityinvestmentacquiredthroughthemergerofenterprisesnotunderthesamecontrol,itsinitialinvestmentcostshallregardasthecombinationcostcalculatedbythefairvalueoftheassets,equityinstrumentissuedandliabilitiesincurredorundertakenonthepurchasedateaddingthedirectcostrelatedwiththeacquisition.Theidentifiableassetsofthecombinedpartyandtheliabilities(includingcontingentliability)undertakenonthecombiningdateshallbemeasuredatthefairvaluewithoutconsideringtheamountofminorityinterest.Theacquirershallrecognizethepositivebalancebetweenthecombinationcostsandthefairvalueoftheidentifiablenetassetsitobtainsfromtheacquireeasbusinessreputation.Theacquirershallrecordthenegativebalancebetweenthecombinationcostsandthefairvalueoftheidentifiablenetassetsitobtainsfromtheacquireeintotheconsolidatedincomestatementdirectly.Theagentexpenseandotherrelevantmanagementexpensessuchastheaudit,legalserviceandevaluationconsultationoccursfromtheenterprisemerger,shouldbeincludedinthecurrentgainsandlosseswhenoccur;whilethehandlingchargesandcommissionoccursfromtheissuingtheequitysecuritiesorthebondsfortheenterprisemergershouldbeincludedintheinitialmeasurementamountoftheshareholders’equitiesortheliabilities.
3)Long-termequityinvestmentobtainedbyothermeansTheinitialcostofalong-termequityinvestmentobtainedbymakingpaymentincashshallbethepurchasecostwhichisactuallypaid.Theinitialcostofalong-termequityinvestmentobtainedonthebasisofissuingequitysecuritiesshallbethefairvalueoftheequitysecuritiesissued.Theinitialcostofalong-termequityinvestmentofaninvestorshallbethevaluestipulatedintheinvestmentcontractoragreement,theunfairvaluestipulatedinthecontractoragreementshallbemeasuredatfairvalue.Asforlong-terminvestmentobtainedbytheexchangeofnon-monetaryassets,whereitiscommercialinnature,thefairvalueoftheassetssurrenderedshallberecognizedastheinitialcostofthelong-termequityinvestmentreceived;whereitisnotcommercialinnature,thebookvalueoftheassetssurrenderedshallberecognizedastheinitialcostofthelong-termequityinvestmentreceived.Theinitialcostofalong-termequityinvestmentobtainedbyrecombinationofliabilitiesshallberecognizedatfairvalueoflong-termequityinvestment.
(3)Subsequentmeasurementandrecognitionofprofitsandlosses
1)AninvestmentinthesubsidiarycompanyshallbemeasuredbyemployingthecostmethodWheretheCompanyhold,andisabletodoequityinvestmentwithcontroloveraninvestedentity,theinvestedentityshallbeitssubsidiarycompany.WheretheCompanyholdsthesharesofanentityover50%,or,whiletheCompanyholdsthesharesofanentitybelow50%,buthasarealcontroltothesaidentity,thenthesaidentityshallbeitssubsidiarycompany.
2)AninvestmentinthejointenterpriseorassociatedenterpriseshallbemeasuredbyemployingtheequitymethodWheretheCompanyhold,andisabletodoequityinvestmentwithjointcontrolwithotherpartiesoveraninvestedentity,theinvestedentityshallbeitsjointenterprise.WheretheCompanyhold,andisabletohaveequityinvestmentwithsignificantinfluencesonaninvestedentity,theinvestedentityshallbeitsassociatedentity.AftertheCompanyacquiredthelong-termequityinvestment,shouldrespectivelyrecognizeinvestmentincomeandothercomprehensiveincomeaccordingtothenetgainsandlossesaswellastheportionofothercomprehensiveincomewhichshouldbeenjoyedorbeshared,andatthesametimeadjustthebookvalueofthelong-termequityinvestment;correspondingreducethebookvalueofthelong-termequityinvestmentaccordingtoprofitswhichbedeclaredtodistributebytheinvesteesortheportionofthecalculationofcashdividendswhichshouldbeenjoyed;fortheotherchangesexceptforthenetgainsandlosses,othercomprehensiveincomeandtheowners’equityexceptfortheprofitsdistributionoftheinvestees,shouldadjustthebookvalueofthelong-termequityinvestmentaswellasincludeintheowners’equity.Theinvestingenterpriseshall,onthegroundofthefairvalueofallidentifiableassetsoftheinvestedentitywhenitobtainstheinvestment,recognizetheattributableshareofthenetprofitsandlossesoftheinvestedentityafteritadjuststhenetprofitsoftheinvestedentity.IftheaccountingpolicyadoptedbytheinvesteesisnotaccordwiththatoftheCompany,shouldbeadjustedaccordingtotheaccountingpoliciesoftheCompanyandthefinancialstatementoftheinvesteesduringtheaccountingperiodandaccordingwhichtorecognizetheinvestmentincomeaswellasothercomprehensiveincome.
ForthetransactionhappenedbetweentheCompanyandassociatedenterprisesaswellasjointventures,iftheassetslaunchedorsoldnotformintobusiness,theportionoftheunrealizedgainsandlossesoftheinternaltransaction,whichbelongstotheCompanyaccordingtothecalculationoftheenjoyedproportion,shouldrecognizetheinvestmentgainsandlossesonthebasis.ButthelossesoftheunrealizedinternaltransactionhappenedbetweentheCompanyandtheinvesteeswhichbelongstotheimpairmentlossesofthetransferredassets,shouldnotbeneutralized.TheCompanyshallrecognizethenetlossesoftheinvestedenterpriseaccordingtothefollowingsequence:
firstofall,towritedownthebookvalueofthelong-termequityinvestment.Secondly,ifthebookvalueofthelong-termequityinvestmentisinsufficientforwrittendown,shouldbecontinuedtorecognizedtheinvestmentlosseslimitedtothebookvalueofotherlong-termequitywhichformsofthenetinvestmentoftheinvesteesandtowrittendownthebookvalueofthelong-termaccountsreceivableetc.Lastly,throughtheabovehandling,forthoseshouldstillundertaketheadditionalobligationsaccordingtotheinvestmentcontractsortheagreements,itshallberecognizedastheestimatedliabilitiesinaccordancewiththeestimateddutiesandthenrecordedintoinvestmentlossesatcurrentperiod.Iftheinvestedentityrealizesanynetprofitslater,theCompanyshall,aftertheamountofitsattributableshareofprofitsoffsetsagainstitsattributableshareoftheun-recognizedlosses,resumerecognizingitsattributableshareofprofits.Inthepreparationforthefinancialstatements,thebalanceexistedbetweenthelong-termequityinvestmentincreasedbyacquiringsharesofminorityinterestandtheattributablenetassetsonthesubsidiarycalculatedbytheincreasedsharesheldsincethepurchasedate(orcombinationdate),thecapitalreservesshallbeadjusted,ifthecapitalreservesarenotsufficienttooffset,theretainedprofitsshallbeadjusted;theCompanydisposedpartofthelong-termequityinvestmentonsubsidiarieswithoutlosingitscontrollingrightonthem,thebalancebetweenthedisposedpriceandattributablenetassetsofsubsidiariesbydisposingthelong-termequityinvestmentshallberecordedintoowners’equity.Forotherwaysondisposaloflong-termequityinvestment,thebalancebetweenthebookvalueofthedisposedequityanditsactualpaymentgainedshallberecordedintocurrentprofitsandlosses.Forthelong-termequityinvestmentmeasuredbyadoptingequitymethod,iftheremainedequityafterdisposalstilladoptstheequitymethodformeasurement,theothercomprehensiveincomeoriginallyrecordedintoowners’equityshouldadoptthesamebasisoftheaccountingdisposaloftherelevantassetsorliabilitiesdirectlydisposedbytheinvesteesaccordingtothecorrespondingproportion.Theowners’equityrecognizedowningtothechangesoftheotherowners’equityexceptforthenetgainsandlosses,othercomprehensiveincomeandtheprofitsdistributionoftheinvestees,shouldbetransferredintothecurrentgainsandlossesaccordingtotheproportion.Forthelong-termequityinvestmentwhichadoptsthecostmethodofmeasurement,iftheremainedequitystilladoptthecostmethod,theothercomprehensiveincomerecognizedowningtoadoptingtheequitymethodformeasurementortherecognitionandmeasurementstandardsoffinancialinstrumentbeforeacquiringthecontroloftheinvestees,shouldadoptthesamebasisoftheaccountingdisposaloftherelevantassetsorliabilitiesdirectlydisposedbytheinvesteesandshouldbecarriedforwardintothecurrentgainsandlossesaccordingtotheproportion;thechangesoftheotherowners’equityexceptforthenetgainsandlosses,othercomprehensiveincomeandtheprofitsdistributionamongthenetassetsoftheinvesteeswhichrecognizedbyadoptingtheequitymethodformeasurement,shouldbecarriedforwardintothecurrentgainsandlossesaccordingtotheproportion.ForthosetheCompanylostthecontroloftheinvesteesbydisposingpartoftheequityinvestmentaswell
astheremainedequityafterdisposalcouldexecutejointcontrolorsignificantinfluencesontheinvestees,shouldchangetomeasurebyequitymethodwhencompilingtheindividualfinancialstatementandshouldadjustthemeasurementoftheremainedequitytoequitymethodasadoptedsincethetimeacquired;iftheremainedequityafterdisposalcouldnotexecutejointcontrolorsignificantinfluencesontheinvestees,shouldchangetheaccountingdisposalaccordingtotherelevantregulationsoftherecognitionandmeasurementstandardsoffinancialinstrument,anditsdifferencebetweenthefairvalueandbookvalueonthedatelosethecontrolrightshouldbeincludedinthecurrentgainsandlosses.FortheothercomprehensiveincomerecognizedbyadoptingequitymethodformeasurementortherecognitionandmeasurementstandardsoffinancialinstrumentbeforetheCompanyacquiredthecontroloftheinvestees,shouldexecutetheaccountingdisposalbyadoptingthesamebasisoftheaccountingdisposaloftherelevantassetsorliabilitiesdirectlydisposedbytheinvesteeswhenlosethecontrolofthem,whilethechangesoftheotherowners’equityexceptforthenetgainsandlosses,othercomprehensiveincomeandtheprofitsdistributionamongthenetassetsoftheinvesteeswhichrecognizedbyadoptingtheequitymethodformeasurement,shouldbecarriedforwardintothecurrentgainsandlossesaccordingtotheproportion.Ofwhich,forthedisposedremainedequitywhichadoptedtheequitymethodformeasurement,theothercomprehensiveincomeandtheotherowners’equityshouldbecarriedforwardaccordingtotheproportion;forthedisposedremainedequitywhichchangedtoexecutetheaccountingdisposalaccordingtotherecognitionandmeasurementstandardsoffinancialinstrument,theothercomprehensiveincomeandtheotherowners’equityshouldbecarriedforwardinfullamount.ForthosetheCompanylostthecontroloftheinvesteesbydisposingpartoftheequityinvestment,thedisposedremainedequityshouldchangetocalculateaccordingtotherecognitionandmeasurementstandardsoffinancialinstrument,anddifferencebetweenthefairvalueandbookvalueonthedatelosethecontrolrightshouldbeincludedinthecurrentgainsandlosses.Fortheothercomprehensiveincomerecognizedfromtheoriginalequityinvestmentbyadoptingtheequitymethod,shouldexecutetheaccountingdisposalbyadoptingthesamebasisoftheaccountingdisposaloftherelevantassetsorliabilitiesdirectlydisposedbytheinvesteeswhenterminatetheequitymethodformeasurement,whilefortheowners’equityrecognizedowningtothechangesoftheotherowner’sequityexceptforthenetgainsandlosses,othercomprehensiveincomeandtheprofitsdistributionoftheinvestees,shouldbetransferredintothecurrentinvestmentincomewithfullamountwhenterminateadoptingtheequitymethod.
18.InvestmentRealEstateMeasurementmodeofinvestmentrealestate:
MeasurementofcostmethodDepreciationoramortizationmethodTheinvestmentrealestateshallbemeasuredatitscost.Ofwhich,thecostofaninvestmentrealestatebyacquisitionconsistsoftheacquisitionprice,relevanttaxes,andotherexpensedirectlyrelegatedtotheasset;thecostofaself-builtinvestmentrealestatecomposesofthenecessaryexpensesforbuildingtheassettothehopedconditionforuse.Theinvestmentrealestateinvestedbyinvestorsshallberecordedatthevaluestipulatedintheinvestmentcontractsoragreements,buttheunfairvalueappointedinthecontractoragreementshallbeenteredintotheaccountbookatthefairvalue.Asforwithdrawalbasisofprovisionforimpairmentofinvestmentrealestates,pleaserefertowithdrawalmethodforprovisionforimpairmentoffixedassets.
19.FixedAssets
(1)RecognitionConditionsFixedassetsreferstothetangibleassetsthatsimultaneouslypossessthefeaturesasfollows:(a)theyareheldforthesakeofproducingcommodities,renderinglaborservice,rentingorbusinessmanagement;and(b)theirusefullifeisinexcessofonefiscalyear.ThefixedassetsareonlyrecognizedwhentherelevanteconomicbenefitsprobablyflowintheCompanyanditscostcouldbereliablemeasured.
(2)DepreciationMethod
| Categoryoffixedassets | Method | Usefullife | Annualdeprecation |
| Housingandbuilding | Averagemethodofusefullife | 20-40 | 2.50%-5% |
| Machineryequipment | Averagemethodofusefullife | 6-15 | 6.67%-16.67% |
| Transportationequipment | Averagemethodofusefullife | 5-10 | 10%-20% |
| Otherequipment | Averagemethodofusefullife | 5-10 | 10%-20% |
(3)RecognitionBasis,PricingandDepreciationMethodofFixedAssetsbyFinanceLeaseTheCompanyrecognizesthosemeetwiththefollowingoneorcertainstandardsasthefixedassetsbyfinancelease:
1)Theleasingcontracthadagreedthat(ormadethereasonablejudgmentaccordingtotherelevantconditionsontheleasestartingdate)whentheleasetermexpires,theownershipofleasingthefixedassetscouldbetransferredtotheCompany;
2)TheCompanyownsthechoosingrightforpurchasingandleasingthefixedassets,withthesetpurchasepricewhichisestimatedfarlowerthanthefairvalueofthefixedassetsbyfinanceleasewhenexecutingthechoosingright,sotheCompanycouldexecutethechoosingrightreasonablyontheleasestartingdate;
3)Eveniftheownershipofthefixedassetsnotbetransferred,theleaseperiodisof75%oraboveoftheusefullifeoftheleasefixedassets;
4)ThecurrentvalueoftheminimumleasepaymentontheleasestartingdateoftheCompanyisequalto90%oraboveofthefairvalueoftheleasefixedassetsontheleasestartingdate;thecurrentvalueoftheminimumleasereceiptsontheleasestartingdateoftheleaserisequalto90%oraboveofthefairvalueoftheleasefixedassetsontheleasestartingdate;
5)ThenatureoftheleaseassetsisspecialthatonlytheCompanycoulduseitifnotexecutelargetransformation.Thefixedassetsbyfinanceleaseshouldtaketheloweronebetweenthefairvalueoftheleasingassetsandthecurrentvalueoftheminimumleasepaymentontheleasestartingdateastheentryvalue.Asfortheminimumleasepaymentwhichberegardedastheentryvalueofthelong-termaccountspayable,its
differenceshouldberegardedastheunrecognizedfinancingexpense.Fortheinitialdirectexpensesoccurintheleasenegotiationsandthesigningprocessoftheleasecontractsthatattributetothehandlingexpenses,counselfees,travelexpensesandstamptaxesoftheleaseitems,shouldbeincludedinthecharter-inassetsvalue.Theunrecognizedfinancingexpensesshouldbeamortizedbyadoptingtheactualinterestrateduringtheperiodoftheleaseterm.Thefixedassetsbyfinanceleaseshalladoptthesamedepreciationpolicyforself-ownedfixedassets.Ifitisreasonabletobecertainthatthelesseewillobtaintheownershipoftheleasedassetwhentheleasetermexpires,theleasedassetshallbefullydepreciatedoveritsusefullife.Ifitisnotreasonabletobecertainthatthelesseewillobtaintheownershipoftheleasedassetattheexpiryoftheleaseterm,theleasedassetshallbefullydepreciatedovertheshorteroneoftheleasetermoritsusefullife
20.ConstructioninProgress
(1)ValuationoftheprogressinconstructionConstructioninprogressshallbemeasuredatactualcost.Self-operatingprojectsshallbemeasuredatdirectmaterials,directwagesanddirectconstructionfees;constructioncontractshallbemeasuredatprojectpricepayable;projectcostforplantengineeringshallberecognizedatvalueofequipmentsinstalled,costofinstallation,trailrunofprojects.Costsofconstructioninprocessalsoincludeborrowingcostsandexchangegainsandlosses,whichshouldbecapitalized.
(2)StandardizationonconstructioninprocesstransferredintofixedassetsandtimepointTheconstructioninprocess,ofwhichthefixedassetsreachtothepredictedconditionforuse,shallcarryforwardfixedassetsonschedule.Theonethathasnotauditedthefinalaccountingshallrecognizethecostandmakedepreciationinlinewithvaluationvalue.Theconstructioninprocessshalladjusttheoriginalvaluationvalueatitshistoricalcostbutnotadjustthedepreciationthathasbeenmadeafterauditingthefinalaccounting.
21.BorrowingCosts
(1)RecognitionprincipleofcapitalizationofborrowingcostsTheborrowingcostsshallincludetheinterestonborrowings,amortizationofdiscountsorpremiumsonborrowings,ancillaryexpenses,andexchangebalanceonforeigncurrencyborrowings.Wheretheborrowingcostsoccurredbelongtospecificallyborrowedloanorgeneralborrowingusedfortheacquisitionandconstructionofinvestmentrealestatesandinventoriesoveroneyear(includingoneyear)shallbecapitalized,andrecordintorelevantassetscost.Otherborrowingcostsshallberecognizedasexpensesonthebasisoftheactualamountincurred,andshallberecordedintothecurrentprofitsandlosses.Theborrowingcostsshallnotbecapitalizedunlesstheysimultaneouslymeetthefollowingthreerequirements:(1)Theassetdisbursementshavealreadyincurred;(2)Theborrowingcostshavealreadyincurred;and(3)Theacquisitionandconstructionorproductionactivitieswhicharenecessarytopreparetheassetforitsintendeduseorsalehavealreadystarted.
(2)TheperiodofcapitalizationofborrowingcostsTheborrowingcostsarisingfromacquisitionandconstructionoffixedassets,investmentrealestatesandinventories,iftheymeettheabove-mentionedcapitalizationconditions,thecapitalizationoftheborrowingcostsshallbemeasuredintoassetcostbeforesuchassetsreachtotheintendeduseorsale,Whereacquisitionandconstructionoffixedassets,investmentrealestatesandinventoriesisinterrupted
abnormallyandtheinterruptionperiodlastsformorethan3months,thecapitalizationoftheborrowingcostsshallbesuspended,andrecordedintothecurrentexpense,tilltheacquisitionandconstructionoftheassetsrestarts.Whenthequalifiedassetisreadyfortheintendeduseorsale,thecapitalizationoftheborrowingcostsshallbeceased,theborrowingcostsoccurredlatershallbeincludedintothefinancialexpensedirectlyatthecurrentperiod.
(3)MeasurementmethodofcapitalizationamountofborrowingcostsAsforspecificallyborrowedloansfortheacquisitionandconstructionorproductionofassetseligibleforcapitalization,theto-be-capitalizedamountofinterestsshallbedeterminedinlightoftheactualcostincurredofthespeciallyborrowedloanatthepresentperiodminustheincomeofinterestsearnedontheunusedborrowingloansasadepositinthebankorasatemporaryinvestment.Whereageneralborrowingisusedfortheacquisitionandconstructionorproductionofassetseligibleforcapitalization,theenterpriseshallcalculateanddeterminetheto-be-capitalizedamountofinterestsonthegeneralborrowingbymultiplyingtheweightedaverageassetdisbursementofthepartoftheaccumulativeassetdisbursementsminusthegeneralborrowingbythecapitalizationrateofthegeneralborrowingused.Thecapitalizationrateshallbecalculatedanddeterminedinlightoftheweightedaverageinterestrateofthegeneralborrowing.
22.IntangibleAssets
(1)PricingMethod,ServiceLife,andImpairmentTest
(1)PricingmethodofintangibleassetsIntangibleassetspurchasedshouldtaketheactualpaymentandtherelevantotherexpensesastheactualcost.Fortheintangibleassetsinvestedbytheinvestorsshouldberecognizedtheactualcostaccordingtothevalueoftheinvestmentcontractsoragreements,however,forthevalueofthecontractsoragreementsisnotfair,theactualcostshouldberecognizedaccordingtothefairvalue.Fortheintangibleassetsacquiresfromtheexchangeofthenon-currencyassets,ifownthecommercialnature,shouldberecordedaccordingtothefairvalueoftheswap-outassets;forthosenotownthecommercialnature,shouldberecordedaccordingtothebookvalueoftheswap-outassets.Fortheintangibleassetsacquiresfromthedebtsreorganizationshouldberecognizedbythefairvalue.
(2)AmortizationmethodandtermofintangibleassetsAsfortheintangibleassetswithlimitedservicelife,whichareamortizedbystraight-linemethodwhenitisavailableforusewithintheserviceperiod,shallberecordedintothecurrentprofitsandlosses.TheCompanyshall,atleastattheendofeachyear,checktheservicelifeandtheamortizationmethodofintangibleassetswithlimitedservicelife.Whentheservicelifeandtheamortizationmethodofintangibleassetsaredifferentfromthosebefore,theyearsandmethodoftheamortizationshallbechanged.Intangibleassetswithuncertainservicelifemaynotbeamortized.However,theCompanyshallchecktheservicelifeofintangibleassetswithuncertainservicelifeduringeachaccountingperiod.Wherethereareevidencestoprovetheintangibleassetshavelimitedservicelife,itshallbeestimatedofitsservicelife,andbeamortizedaccordingtotheabovemethodmentioned.TherightstouselandoftheCompanyshallbeamortizedaccordingtotherestservicelife.
(2)AccountingPolicesofInternalR&DCostsTheinternalresearchanddevelopmentprojectsofanenterpriseshallbeclassifiedintoresearchphaseanddevelopmentphase:theterm“research”referstothecreativeandplannedinvestigationtoacquireandunderstandnewscientificortechnologicalknowledge;theterm“development”referstotheapplicationofresearchachievementsandotherknowledgetoacertainplanordesign,priortothecommercialproductionoruse,soastoproduceanynewmaterial,deviceorproduct,orsubstantiallyimprovedmaterial,deviceandproduct.TheCompanycollectsthecostsofthecorrespondingphasesaccordingtotheabovestandardofclassifyingtheresearchphaseandthedevelopmentphase.Theresearchexpendituresforitsinternalresearchanddevelopmentprojectsofanenterpriseshallberecordedintotheprofitorlossforthecurrentperiod.Thedevelopmentcostsforitsinternalresearchanddevelopmentprojectsofanenterprisemaybecapitalizedwhentheysatisfythefollowingconditionssimultaneously:itisfeasibletechnicallytofinishintangibleassetsforuseorsale;itisintendedtofinishanduseorselltheintangibleassets;theusefulnessofmethodsforintangibleassetstogenerateeconomicbenefitsshallbeproved,includingbeingabletoprovethatthereisapotentialmarketfortheproductsmanufacturedbyapplyingtheintangibleassetsorthereisapotentialmarketfortheintangibleassetsitselfortheintangibleassetswillbeusedinternally;itisabletofinishthedevelopmentoftheintangibleassets,andabletouseorselltheintangibleassets,withthesupportofsufficienttechnologies,financialresourcesandotherresources;thedevelopmentcostsoftheintangibleassetscanbereliablymeasured.
23.ImpairmentofLong-termAssetsFornon-currentfinancialAssetsoffixedAssets,projectsunderconstruction,intangibleAssetswithlimitedservicelife,investingrealestatewithcostmodel,long-termequityinvestmentofsubsidiaries,cooperativeenterprisesandjointventures,theCompanyshouldjudgewhetherdecreaseinvalueexistsonthedateofbalancesheet.Recoverableamountsshouldbetestedfordecreaseinvalueifitexists.OtherintangibleAssetsofreputationanduncertainservicelifeandothernon-accessibleintangibleassetsshouldbetestedfordecreaseinvaluenomatterwhetheritexists.Iftherecoverableamountislessthanbookvalueinimpairmenttestresults,theprovisionforimpairmentofdifferencesshouldincludeinimpairmentloss.Recoverableamountswouldbethehigherofnetvalueofassetfairvaluedeductingdisposalchargesorpresentvalueofpredictedcashflow.Assetfairvalueshouldbedeterminedaccordingtonegotiatedsalespriceoffairtrade.Ifnosalesagreementexistsbutwithassetactivemarket,fairvalueshouldbedeterminedaccordingtotheBuyer’spriceoftheasset.Ifnosalesagreementorassetactivemarketexists,assetfairvaluecouldbeacquiredonthebasisofbestinformationavailable.Disposalexpensesincludelegalfees,taxes,cartageorotherdirectexpensesofmerchantableAssetsrelatedtoassetdisposal.PresentvalueofpredictedassetcashflowshouldbedeterminedbytheproperdiscountrateaccordingtoAssetsinserviceandpredictedcashflowoffinaldisposal.AssetdepreciationreservesshouldbecalculatedonthebasisofsingleAssets.IfitisdifficulttopredicttherecoverableamountsforsingleAssets,recoverableamountsshouldbedeterminedaccordingtothebelongingassetgroup.Assetgroupistheminimumassetcombinationproducingcashflowindependently.Inimpairmenttest,bookvalueofthebusinessreputationinfinancialreportshouldbesharedtobeneficialassetgroupandassetgroupcombinationincollaborationofbusinessmerger.Itisshowninthetestthatifrecoverableamountsofsharedbusinessreputationassetgrouporassetgroupcombinationarelowerthan
bookvalue,itshoulddeterminetheimpairmentloss.Impairmentlossamountshouldfirstlybedeductedandsharedtothebookvalueofbusinessreputationofassetgrouporassetgroupcombination,thendeductbookvalueofallassetsaccordingtoproportionsofotherbookvalueofaboveassetsinassetgrouporassetgroupcombinationexceptbusinessreputation.Aftertheassetimpairmentlossisdetermined,recoverablevalueamountswouldnotbereturnedinfuture.
24.Long-termDeferredExpensesLong-termdeferredexpansesoftheCompanyshallberecordedinlightoftheactualexpenditure,andamortizedaveragelywithinbenefitperiod.Incaseofnobenefitinthefutureaccountingperiod,theamortizedvalueofsuchprojectthatfailstobeamortizedshallbetransferredintotheprofitsandlossesofthecurrentperiod.
25.ContractLiabilitiesContractliabilitiesrefertotheCompany’sobligationsintransferringcommoditiesorservicestotheclientforthereceivedorpredictedconsideration.Contractassetsandcontractliabilitiesunderthesamecontractshallbepresentedbasedonthenetamount.
26.EmployeeBenefits
(1)AccountingTreatmentofShort-termCompensationShort-termcompensationmainlyincludingsalary,bonus,allowancesandsubsidies,employeeservicesandbenefits,medicalinsurancepremiums,birthinsurancepremium,industrialinjuryinsurancepremium,housingfund,laborunionexpenditureandpersonneleducationfund,non-monetarybenefitsetc.Theshort-termcompensationactuallyhappenedduringtheaccountingperiodwhentheactivestaffofferingtheservicefortheCompanyshouldberecognizedasliabilitiesandisincludedinthecurrentgainsandlossesorrelevantassetscost.Ofwhichthenon-monetarybenefitsshouldbemeasuredaccordingtothefairvalue.
(2)AccountingTreatmentoftheWelfareafterDemissionTheCompanyclassifiesthewelfareplansafterdemissionintodefinedcontributionplansanddefinedbenefitplans.WelfareplansafterdemissionreferstotheagreementonthewelfareafterdemissionreachesbetweentheCompanyandtheemployees,ortheregulationsormethodsformulatedbytheCompanyforprovidingthewelfareafterdemissionfortheemployees.Ofwhich,definedcontributionplansreferstothewelfareplansafterdemissionthattheCompanynomoreundertakethefurtherpaymentobligationsafterthepaymentofthefixedexpensesfortheindependentfunds;definedbenefitplans,referstothewelfareplansafterdemissionexceptforthedefinedcontributionplans.DefinedcontributionplansDuringtheaccountingperiodthattheCompanyprovidingtheservicefortheemployees,theCompanyshouldrecognizetheliabilitiesaccordingtothedepositedamountcalculatedbydefinedcontributionplans,andshouldbeincludedinthecurrentgainsandlossesortherelevantassetscost.
(3)AccountingTreatmentoftheDemissionWelfareTheCompanyshouldrecognizethepayrollpaymentliabilitiesoccurfromthedemissionwelfareaccording
totheearlierdatebetweenthefollowingtwoconditionsandincludewhichinthecurrentgainsandlosseswhenprovidingthedemissionwelfarefortheemployees:theCompanycouldnotunilaterallywithdrawthedemissionwelfareowningtotherelieveplansofthelaborrelationshiporreduction;whentheCompanyrecognizingthecostsorexpensesrelatedtothereorganizationinvolveswiththedemissionwelfarepayments.
27.Provisions
(1)CriteriaofprovisionsOnlyiftheobligationpertinenttoacontingenciesshallberecognizedasanestimateddebtswhenthefollowingconditionsaresatisfiedsimultaneously:
1)ThatobligationisacurrentobligationoftheCompany;
2)ItislikelytocauseanyeconomicbenefittoflowoutoftheCompanyasaresultofperformanceoftheobligation;
3)Theamountoftheobligationcanbemeasuredinareliableway.
(2)MeasurementofprovisionsTheCompanyshallmeasuretheprovisionsinaccordancewiththebestestimateofthenecessaryexpensesfortheperformanceofthecurrentobligation.TheCompanyshallcheckthebookvalueoftheprovisionsontheBalanceSheetDate.Ifthereisanyconclusiveevidenceprovingthatthesaidbookvaluecan’ttrulyreflectthecurrentbestestimate,theCompanyshall,subjecttochange,makeadjustmenttocarryingvaluetoreflectthecurrentbestestimate.
28.RevenueAccountingpoliciesforrecognitionandmeasurementofrevenue:
WhentheCompanyfulfillsitsdueperformanceobligations(namelywhentheclientobtainsthecontroloverrelatedcommoditiesorservices),revenuesshallberecognizedbasedontheobligation’samortizedtransactionprice.PerformanceObligationreferstotheCompany’spromiseoftransferringcommoditiesorservicesthatcanbeclearlydefinedtotheclient.TransactionPricereferstotheconsiderationamountdulychargedbytheCompanyfortransferringcommoditiesorservicestotheclient,excludinganyamountchargedbythethirdpartyandanyamountpredictedtobereturnedtotheclient.ControlOverRelevantCommoditiesmeansthattheuseofcommoditiescanbecontrolledandalmostalleconomicinterestscanbeobtained.Onthecontractcommencementday,theCompanyshallevaluatethecontract,recognizeindividualperformanceobligationandconfirmthatindividualperformanceobligationisfulfilledinacertainperiodoratacertaintime.Whenoneofthefollowingconditionsismet,suchperformanceobligationshallbedeemedasfulfilledinacertainperiod,andtheCompanyshallrecognizeitasrevenuewithinacertainperiodaccordingtotheperformanceschedule:(1)theclientobtainsandconsumestheeconomicinterestsresultingfromtheCompany’sperformanceofcontractwhileperformingthecontract;(2)theclientisabletocontrolthecommoditiesunderconstructionduringtheperformance;(3)commoditiesproducedbytheCompanyduringtheperformancepossesstheirreplaceablepurpose,andtheCompanyhastherighttochargeallfinishedpartsduringthecontractperiod;otherwise,theCompanyshallrecognizetherevenuewhentheclientobtainsthecontroloverrelevantcommoditiesorservices.
TheCompanyshalladopttheInputMethodtodeterminethePerformanceSchedule.Namely,thePerformanceScheduleshallbedeterminedaccordingtotheCompany’sinputforfulfillingperformanceobligations.WhenthePerformanceSchedulecannotbereasonablydeterminedandallresultingcostsarepredictedtobecompensated,theCompanyshallrecognizetherevenuebasedontheresultingcostamounttillthePerformanceSchedulecanbereasonablydetermined.Whenthecontractinvolvestwoormorethantwoperformanceobligations,thetransactionpriceshallbeamortizedtoeachsingleperformanceobligationonthecontractcommencementdayaccordingtotherelativeproportionoftheindependentsellingpriceofcommoditiesorservicesundereachsingleperformanceobligation.Ifanysolidevidenceprovesthatthecontractdiscountorvariableconsiderationonlyrelatestooneormorethanone(notall)performanceobligationunderthecontract,theCompanyshallamortizethecontractdiscountorvariableconsiderationtooneormorethanonerelatedperformanceobligations.IndependentsellingpricereferstothepriceadoptedbytheCompanytoindependentlysellcommoditiesorservicestotheclient.However,independentsellingpricecannotbedirectlyobserved.TheCompanyshallestimatetheindependentsellingpricebycomprehensivelyconsideringallrelatedinformationthatcanbereasonablyobtainedandmaximallyadoptingtheobservableinputvalue.VariableConsiderationIfanyvariableconsiderationexistsinthecontract,theCompanyshalldeterminetheoptimalestimationofthevariableconsiderationbasedontheexpectedvaluesorthemostpossibleamount.Thevariableconsideration’stransactionpriceshallbeincludedwithoutexceedingthetotalrevenueamountrecognizedwithouttheriskofsignificantrestitutionwhenalluncertaintiesareeliminated.Oneachbalancesheetday,theCompanyshallre-estimatethevariableconsiderationamounttobeincludedinthetransactionprice.ConsiderationPayabletotheClientIfanyconsiderationpayabletotheclientexistsinthecontract,theCompanyshallusesuchconsiderationtooffsetthetransactionpriceunlesssuchconsiderationispaidforacquiringotherclearly-definedcommoditiesorservicesfromtheclient,andwritedownthecurrentrevenueatthelatertimebetweenthetimeofrecognizingrelevantrevenuesandthetimeofpaying(orpromisingthepayment)theconsiderationtotheclient.SaleswiththeQualityAssuranceForsaleswiththeQualityAssurance,iftheQualityAssuranceinvolvesanotherseparateserviceexceptfortheguaranteeofallsoldcommoditiesorservicesmeetingallestablishedstandards,theQualityAssuranceshallconstituteasinglePerformanceObligation;otherwise,theCompanyshallmakecorrespondingaccountingtreatmenttotheQualityAssuranceaccordingtoASBENo.13--Contingency.MainResponsibilityPerson/AgentAccordingtowhetherthecontrolovercommoditiesorservicesisobtainedbeforetheyaretransferredtotheclient,theCompanycanjudgewhetheritisMainResponsibilityPersonorAgentbasedonitsstatusduringthetransaction.IftheCompanycancontrolcommoditiesorservicesbeforetheyaretransferredtotheclient,theCompanyshallbeMainResponsibilityPerson,andrevenuesshallberecognizedaccordingtothetotalconsiderationamountreceivedortobereceived;otherwise,theCompanyshallbeAgent,andrevenuesshallberecognizedaccordingtothecommissionorservicefeespredictedtobedulycharged.However,suchamountshallbedeterminedbasedonthenetamountafterdeductingotheramountspayabletootherrelatedpartiesfromthetotalconsiderationreceivedortobedulyreceivedorthefixedcommission
amountorproportion.InterestRevenueInterestRevenueshallbedeterminedaccordingtothetimeoftheCompany’suseofmonetarycapitalandtheactualinterestrate.RentalIncomeTherentalincomefromoperatingleaseshallberecognizedduringeachleaseperiodaccordingtothestraight-linemethod,andthecontingentrentshallbeincludedintothecurrentprofitandlosswithoutdelay.
29.GovernmentGrants
(1)TypeAgovernmentgrantmeansthemonetaryornon-monetaryassetsobtainedfreebyanenterprisefromthegovernment.Governmentgrantsconsistofthegovernmentgrantspertinenttoassetsandgovernmentgrantspertinenttoincomeaccordingtotherelevantgovernmentdocuments.Forthosethegovernmentdocumentsnotdefinitestipulatetheassistanceobject,thejudgmentbasisoftheCompanyclassifiesthegovernmentgrantspertinenttoassetsandgovernmentsubsidiespertinenttoincomeis:whetherareusedforpurchasingorconstructingorforformingthelong-termassetsbyothermethods.
(2)RecognitionofGovernmentSubsidiesThegovernmentsubsidiesshouldberecognizedonlywhenmeetwiththeattachedconditionsofthegovernmentgrantsaswellascouldbeacquired.Ifthegovernmentgrantsarethemonetaryassets,shouldbemeasuredaccordingtothereceivedorreceivableamount;andforthegovernmentgrantsarethenon-monetaryassets,shouldbemeasuredbyfairvalue.
(3)AccountingTreatmentThegovernmentgrantspertinenttoassetsshallberecognizedasdeferredincome,andincludedinthecurrentgainsandlossesoroffsetthebookvalueofrelatedassetswithintheusefullivesoftherelevantassetswithareasonableandsystematicmethod.Governmentgrantspertinenttoincomeusedtocompensatetherelevantcosts,expensesorlossesoftheCompanyinthesubsequentperiodshallberecognizedasdeferredincome,andshallbeincludedinthecurrentprofitandlossduringtheperiodofconfirmingtherelevantcosts,expensesorlosses;thoseusedtocompensatetherelevantcosts,expensesorlossesoftheCompanyalreadyhappenedshallbeincludedinthecurrentgainsandlossesorusedtooffsetrelevantcostsdirectly.Forgovernmentgrantsthatincludebothassets-relatedandincome-relatedparts,theyshouldbedistinguishedseparatelyforaccountingtreatment;forgovernmentsubsidiesthataredifficulttobedistinguished,theyshouldbeclassifiedasincome-related.GovernmentgrantsrelatedtothedailyactivitiesoftheCompanyshallbeincludedintootherincomeorusedtooffsetrelevantcostsbythenatureofeconomicbusiness;thoseunrelatedshallbeincludedintonon-operatingincome.Thegovernmentgrantsrecognizedwithrelevantdeferredincomebalancebutneedtoreturnshallbeusedtooffsetthebookbalanceofrelevantdeferredincome,theexcessivepartshallbeincludedinthecurrent
gainsandlossesoradjustingthebookvalueofassetsforthegovernmentgrantsassets-relatedthatoffsetthebookvalueofrelevantassetswhentheyareinitiallyrecognized;thosebelongtoothercasesshallbedirectlyincludedinthecurrentgainsandlosses.
30.DeferredIncomeTaxAssets/DeferredIncomeTaxLiabilities
(1)BasisofrecognizingthedeferredincometaxassetsAccordingtothedifferencebetweenthebookvalueoftheassetsandliabilitiesandtheirtaxbasis,adeferredtaxassetshallbemeasuredinaccordwiththetaxratesthatareexpectedtoapplytotheperiodwhentheassetisrealizedortheliabilityissettled.TherecognitionofthedeferredincometaxassetsislimitedbytheincometaxpayablethattheCompanyprobablygainsfordeductingthedeductibletemporarydifferences.Atthebalancesheetdate,wherethereisstrongevidenceshowingthatsufficienttaxableprofitwillbeavailableagainstwhichthedeductibletemporarydifferencecanbeutilized,thedeferredtaxassetunrecognizedinpriorperiodshallberecognized.TheCompanyassessesthecarryingamountofdeferredtaxassetatthebalancesheetdate.Ifit’sprobablethatsufficienttaxableprofitwillnotbeavailableagainstwhichthedeductibletemporarydifferencecanbeutilized,theCompanyshallwritedownthecarryingamountofdeferredtaxasset,orreversetheamountwrittendownlaterwhenit’sprobablethatsufficienttaxableprofitwillbeavailable.
(2)BasisofrecognizingthedeferredincometaxliabilitiesAccordingtothedifferencebetweenthebookvalueoftheassetsandliabilitiesandtheirtaxbasis,Adeferredtaxliabilityshallbemeasuredinaccordwiththetaxratesthatareexpectedtoapplytotheperiodwhentheassetisrealizedortheliabilityissettled.
31.Lease
(1)AccountingTreatmentofOperatingLeaseLesseeinanoperatingleaseshalltreattheleasepaymentunderanoperatingleaseasarelevantassetcostorthecurrentprofitorlossonastraight-linebasisovertheleaseterm.Theinitialdirectcostsincurredshallberecognizedasthecurrentprofitorloss;Contingentrentsshallbechargedasexpensesintheperiodsinwhichtheyareincurred.Lessorsinanoperatingleaseshallberecognizedasthecurrentprofitorlossonastraight-linebasisovertheleaseterm;Initialdirectcostsincurredbylessorsshallberecognizedasthecurrentprofitorloss;theinitialdirectexpensesoccurshouldbedirectlyincludedinthecurrentgainsandlossesexceptforthosewithlargeramountandbecapitalizedaswellasbeincludedinthegainsandlossesbystages.Contingentrentsshallbechargedasexpensesintheperiodsinwhichtheyareincurred.
(2)AccountingTreatmentsofFinancialLeaseWhentheCompanyasthelessee,Ontheleasebeginningdate,theCompanyshallrecordtheloweroneofthefairvalueoftheleasedassetandthepresentvalueoftheminimumleasepaymentsonthelease
beginningdateastheenteringvalueinanaccount,recognizetheamountoftheminimumleasepaymentsastheenteringvalueinanaccountoflong-termaccountpayable,andtreatthebalancebetweentherecordedamountoftheleasedassetandthelong-termaccountpayableasunrecognizedfinancingchargesandtheoccurredinitialdirectexpenses,shouldberecordedintheleaseassetsvalue.Duringeachleaseperiod,shouldrecognizethecurrentfinancingexpensesbyadoptingtheactualinterestrate.WhentheCompanyastheleasorandonthebeginningdateoftheleaseterm,theCompanyshallrecognizethesumoftheminimumleasereceiptsontheleasebeginningdateandtheinitialdirectcostsastheenteringvalueinanaccountofthefinancingleasevaluesreceivable,andrecordtheunguaranteedresidualvalueatthesametime.Thebalancebetweenthesumoftheminimumleasereceipts,theinitialdirectcostsandtheunguaranteedresidualvalueandthesumoftheirpresentvaluesshallberecognizedasunrealizedfinancingincome.Duringeachleaseperiod,shouldrecognizethecurrentfinancingrevenuesadoptingtheactualinterestrate.
32.OtherSignificantAccountingPoliciesandEstimates
(1)OperationterminationOperationterminationreferstothecomposepartthatmeetwithoneofthefollowingconditionswhichhadbeendisposedbytheGrouporbeclassifiedtoheld-to-soldaswellascouldbeindividuallydistinguishedinoperatingandcompilingthefinancialstatement:
1)Thecomposepartrepresentsanindividualmainbusinessoramainoperationarea;
2)Thecomposepartisapartintendstodisposeandplananindividualmainbusinessoramainoperationarea;
3)Thecomposepartisasubsidiarywhichbeacquiredonlyforresold.
(2)HedgingaccountingTheterm“hedging”referstooneormorehedginginstrumentswhicharedesignatedbyanenterpriseforavoidingtherisksofforeignexchange,interestrate,commodityprice,stockprice,creditandetc.,andwhichisexpectedtomakethechangesinfairvalueorcashflowofhedginginstrument(s)tooffsetallorpartofthechangesinthefairvalueorcashflowofthehedgeditem.Theterm“hedginginstrument”shallrefertoaderivativeinstrumentwhichisdesignatedbyanenterpriseforhedgingandbywhichitisexpectedthatchangesinitsfairvalueorcashflowcanoffsetthechangesinfairvalueorcashflowofthehedgeditem.Forahedgingofforeignexchangerisk,anon-derivativefinancialassetornon-derivativefinancialliabilitymaybeusedasahedginginstrument.The“hedgeditem”shallrefertothefollowingitemswhichmakeanenterprisefacedtochangesinfairvalueorcashflowandaredesignatedasthehedgedobjectives.Thehedgingshouldbeexecutedbythehedgingaccountingmethodswhensatisfyingthefollowingconditionsatthesametime:
1)Atthecommencementofthehedging,theenterpriseshallspecifythehedgingrelationshipformally(namelytherelationshipbetweenthehedginginstrumentandthehedgeditem)andprepareaformalwrittendocumentonthehedgingrelationship,riskmanagementobjectivesandthestrategiesofhedging.
2)Thehedgingexpectationishighlyefficientandmeetstheriskmanagementstrategy,whichisconfirmedforthehedgingrelationshipbyenterpriseattheverybeginning.
3)Foracashflowhedgingofforecasttransaction,theforecasttransactionshallbelikelytooccurandshall
maketheenterprisefacedtotheriskofchangesincashflow,whichwillultimatelyaffecttheprofitsandlosses.
4)Theeffectivenessofhedgingcanbereliablymeasured.
5)Thehedgingishighlyeffectiveinaccountingperiodinwhichthehedgingrelationshipisspecified.
33.ChangesinMainAccountingPoliciesandEstimates
(1)ChangeofAccountingPolicies
√Applicable□Notapplicable
| Changestotheaccountingpoliciesandwhy | Approvalprocess | Remark |
| TheMinistryofFinanceissuedtheNoticeonRevisingandPrintingtheAccountingStandardsforBusinessEnterprisesNo.14-Revenue(CK[2017]No.22)(hereinafterreferredtoasthe“NewStandardsgoverningRevenue”)inJuly2017andrequiredalldomesticallylistedcompaniestoimplementitsince1January2020. | On28April2020,theCompanyheldthe2ndMeetingofthe9thBoardofDirectorsandthe2ndMeetingofthe9thSupervisoryCommitteeandapprovedtheProposalonChangesofSomeAccountingPolicies |
(1)InfluenceofImplementingtheNewStandardsGoverningRevenueAffecteditemsintheconsolidatedbalancesheetandamountthereof:
| Item | 31December2019 | Affectedbyclassificationandmeasurement | 1January2020 |
| Advancesfromcustomers | 31,789,001.78 | -31,789,001.78 | |
| Contractliabilities | 31,789,001.78 |
AffecteditemsinthebalancesheetoftheCompanyastheparentandamountthereof:
| Item | 31December2019 | Affectedbyclassificationandmeasurement | 1January2020 |
| Advancesfromcustomers | 28,673,664.87 | -28,673,664.87 | |
| Contractliabilities | 28,673,664.87 |
(2)ChangesinAccountingEstimates
□Applicable√Notapplicable
(3)AdjustmentstotheFinancialStatementsattheBeginningoftheFirstExecutionYearofanyNewStandardsGoverningRevenueorLeasessince2020Applicable
ConsolidatedBalanceSheet
Unit:RMB
| Item | 31December2019 | 1January2020 | Adjusted |
| Currentassets: | |||
| Monetaryassets | 638,589,260.09 | 638,589,260.09 | |
| Settlementreserve | |||
| Interbankloansgranted | |||
| Held-for-tradingfinancialassets | 13,050,000.00 | 13,050,000.00 | |
| Derivativefinancialassets | |||
| Notesreceivable | 606,283,023.05 | 606,283,023.05 | |
| Accountsreceivable | 419,302,056.87 | 419,302,056.87 | |
| Accountsreceivablefinancing | |||
| Prepayments | 12,968,746.16 | 12,968,746.16 | |
| Premiumsreceivable | |||
| Reinsurancereceivables | |||
| Receivablereinsurancecontractreserve | |||
| Otherreceivables | 9,703,390.94 | 9,703,390.94 | |
| Including:Interestreceivable | |||
| Dividendsreceivable | |||
| Financialassetspurchasedunderresaleagreements | |||
| Inventories | 473,359,168.90 | 473,359,168.90 | |
| Contractassets | |||
| Assetsheldforsale | |||
| Currentportionofnon-currentassets | |||
| Othercurrentassets | 6,421,275.47 | 6,421,275.47 | |
| Totalcurrentassets | 2,179,676,921.48 | 2,179,676,921.48 | |
| Non-currentassets: |
| Loansandadvancestocustomers | ||
| Investmentsindebtobligations | ||
| Investmentsinotherdebtobligations | ||
| Long-termreceivables | ||
| Long-termequityinvestments | ||
| Investmentsinotherequityinstruments | 532,886,000.00 | 532,886,000.00 |
| Othernon-currentfinancialassets | 77,952,101.63 | 77,952,101.63 |
| Investmentproperty | 48,447,666.83 | 48,447,666.83 |
| Fixedassets | 457,722,667.32 | 457,722,667.32 |
| Constructioninprogress | 91,358,156.24 | 91,358,156.24 |
| Productivelivingassets | ||
| Oilandgasassets | ||
| Right-of-useassets | ||
| Intangibleassets | 99,699,450.26 | 99,699,450.26 |
| Developmentcosts | ||
| Goodwill | ||
| Long-termprepaidexpense | 53,497.80 | 53,497.80 |
| Deferredincometaxassets | 1,023,863.04 | 1,023,863.04 |
| Othernon-currentassets | ||
| Totalnon-currentassets | 1,309,143,403.12 | 1,309,143,403.12 |
| Totalassets | 3,488,820,324.60 | 3,488,820,324.60 |
| Currentliabilities: | ||
| Short-termborrowings | 22,000,000.00 | 22,000,000.00 |
| Borrowingsfromthecentralbank | ||
| Interbankloansobtained | ||
| Held-for-tradingfinancial |
| liabilities | |||
| Derivativefinancialliabilities | |||
| Notespayable | 403,035,000.00 | 403,035,000.00 | |
| Accountspayable | 525,625,016.89 | 525,625,016.89 | |
| Advancesfromcustomers | 31,789,001.78 | -31,789,001.78 | |
| Contractliabilities | 31,789,001.78 | 31,789,001.78 | |
| Financialassetssoldunderrepurchaseagreements | |||
| Customerdepositsandinterbankdeposits | |||
| Payablesforactingtradingofsecurities | |||
| Payablesforunderwritingofsecurities | |||
| Employeebenefitspayable | 44,559,015.79 | 44,559,015.79 | |
| Taxespayable | 9,094,382.58 | 9,094,382.58 | |
| Otherpayables | 205,064,145.10 | 205,064,145.10 | |
| Including:Interestpayable | |||
| Dividendspayable | 3,891,433.83 | 3,891,433.83 | |
| Handlingchargesandcommissionspayable | |||
| Reinsurancepayables | |||
| Liabilitiesdirectlyassociatedwithassetsheldforsale | |||
| Currentportionofnon-currentliabilities | |||
| Othercurrentliabilities | 1,177,712.38 | 1,177,712.38 | |
| Totalcurrentliabilities | 1,242,344,274.52 | 1,242,344,274.52 | |
| Non-currentliabilities: | |||
| Insurancecontractreserve | |||
| Long-termborrowings |
| Bondspayable | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | ||
| Long-termpayables | ||
| Long-termemployeebenefitspayable | ||
| Provisions | ||
| Deferredincome | 58,864,111.22 | 58,864,111.22 |
| Deferredincometaxliabilities | 57,082,890.27 | 57,082,890.27 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 115,947,001.49 | 115,947,001.49 |
| Totalliabilities | 1,358,291,276.01 | 1,358,291,276.01 |
| Owners’equity: | ||
| Sharecapital | 561,374,326.00 | 561,374,326.00 |
| Otherequityinstruments | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Capitalreserves | 164,328,665.43 | 164,328,665.43 |
| Less:Treasurystock | ||
| Othercomprehensiveincome | 317,059,775.00 | 317,059,775.00 |
| Specificreserve | 17,560,202.07 | 17,560,202.07 |
| Surplusreserves | 322,228,533.72 | 322,228,533.72 |
| Generalreserve | ||
| Retainedearnings | 728,341,265.36 | 728,341,265.36 |
| TotalequityattributabletoownersoftheCompanyastheparent | 2,110,892,767.58 | 2,110,892,767.58 |
| Non-controllinginterests | 19,636,281.01 | 19,636,281.01 |
| Totalowners’equity | 2,130,529,048.59 | 2,130,529,048.59 |
| Totalliabilitiesandowners’equity | 3,488,820,324.60 | 3,488,820,324.60 |
BalanceSheetoftheCompanyastheParent
Unit:RMB
| Item | 31December2019 | 1January2020 | Adjusted |
| Currentassets: | |||
| Monetaryassets | 584,957,678.96 | 584,957,678.96 | |
| Held-for-tradingfinancialassets | |||
| Derivativefinancialassets | |||
| Notesreceivable | 576,948,023.05 | 576,948,023.05 | |
| Accountsreceivable | 337,447,538.04 | 337,447,538.04 | |
| Accountsreceivablefinancing | |||
| Prepayments | 6,386,284.14 | 6,386,284.14 | |
| Otherreceivables | 22,741,542.22 | 22,741,542.22 | |
| Including:Interestreceivable | |||
| Dividendsreceivable | |||
| Inventories | 368,653,472.39 | 368,653,472.39 | |
| Contractassets | |||
| Assetsheldforsale | |||
| Currentportionofnon-currentassets | |||
| Othercurrentassets | 3,898,333.51 | 3,898,333.51 | |
| Totalcurrentassets | 1,901,032,872.31 | 1,901,032,872.31 | |
| Non-currentassets: | |||
| Investmentsindebtobligations | |||
| Investmentsinotherdebtobligations |
| Long-termreceivables | |||
| Long-termequityinvestments | 252,752,730.03 | 252,752,730.03 | |
| Investmentsinotherequityinstruments | 532,886,000.00 | 532,886,000.00 | |
| Othernon-currentfinancialassets | 50,000,000.00 | 50,000,000.00 | |
| Investmentproperty | 48,447,666.83 | 48,447,666.83 | |
| Fixedassets | 364,071,199.07 | 364,071,199.07 | |
| Constructioninprogress | 89,330,161.60 | 89,330,161.60 | |
| Productivelivingassets | |||
| Oilandgasassets | |||
| Right-of-useassets | |||
| Intangibleassets | 70,169,770.91 | 70,169,770.91 | |
| Developmentcosts | |||
| Goodwill | |||
| Long-termprepaidexpense | |||
| Deferredincometaxassets | 970,026.67 | 970,026.67 | |
| Othernon-currentassets | |||
| Totalnon-currentassets | 1,408,627,555.11 | 1,408,627,555.11 | |
| Totalassets | 3,309,660,427.42 | 3,309,660,427.42 | |
| Currentliabilities: | |||
| Short-termborrowings | 5,000,000.00 | 5,000,000.00 | |
| Held-for-tradingfinancialliabilities | |||
| Derivativefinancialliabilities | |||
| Notespayable | 392,105,000.00 | 392,105,000.00 | |
| Accountspayable | 481,854,210.18 | 481,854,210.18 | |
| Advancesfromcustomers | 28,673,664.87 | -28,673,664.87 | |
| Contractliabilities | 28,673,664.87 | 28,673,664.87 |
| Employeebenefitspayable | 39,125,477.30 | 39,125,477.30 |
| Taxespayable | 5,952,664.10 | 5,952,664.10 |
| Otherpayables | 192,046,130.29 | 192,046,130.29 |
| Including:Interestpayable | ||
| Dividendspayable | 3,243,179.97 | 3,243,179.97 |
| Liabilitiesdirectlyassociatedwithassetsheldforsale | ||
| Currentportionofnon-currentliabilities | ||
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 1,144,757,146.74 | 1,144,757,146.74 |
| Non-currentliabilities: | ||
| Long-termborrowings | ||
| Bondspayable | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | ||
| Long-termpayables | ||
| Long-termemployeebenefitspayable | ||
| Provisions | ||
| Deferredincome | 58,864,111.22 | 58,864,111.22 |
| Deferredincometaxliabilities | 55,951,725.00 | 55,951,725.00 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 114,815,836.22 | 114,815,836.22 |
| Totalliabilities | 1,259,572,982.96 | 1,259,572,982.96 |
| Owners’equity: | ||
| Sharecapital | 561,374,326.00 | 561,374,326.00 |
| Otherequityinstruments | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Capitalreserves | 183,071,147.70 | 183,071,147.70 |
| Less:Treasurystock | ||
| Othercomprehensiveincome | 317,059,775.00 | 317,059,775.00 |
| Specificreserve | 17,560,202.07 | 17,560,202.07 |
| Surplusreserves | 322,228,533.72 | 322,228,533.72 |
| Retainedearnings | 648,793,459.97 | 648,793,459.97 |
| Totalowners’equity | 2,050,087,444.46 | 2,050,087,444.46 |
| Totalliabilitiesandowners’equity | 3,309,660,427.42 | 3,309,660,427.42 |
(4)RetroactiveAdjustmentstoComparativeDataofPriorYearswhenFirstExecutionofanyNewStandardsGoverningRevenueorLeasessince2020
□Applicable√Notapplicable
VI.Taxation
1.MainTaxesandTaxRate
| Categoryoftaxes | Taxbasis | Taxrate |
| VAT | Payabletosalesrevenue | 13%,9%,6% |
| Urbanmaintenanceandconstructiontax | Taxableturnoveramount | Taxpaidinaccordancewiththetaxregulationsoftaxunitslocation |
| Enterpriseincometax | Taxableincome | 25%or15% |
| Educationsurcharge | Taxableturnoveramount | 5% |
Notesofthedisclosuresituationofthetaxpayingbodieswithdifferententerprisesincometaxrate
| Name | Incometaxrate |
| ChangchaiCompany,Limited | 15% |
| ChangchaiWanzhouDieselEngineCo.,Ltd. | 15% |
| ChangzhouChangchaiBenniuDieselEngineFittingsCo.,Ltd. | 25% |
| ChangzhouHoushengInvestmentCo.,Ltd. | 5% |
| ChangzhouChangchaiHoushengAgriculturalEquipmentCo.,Ltd. | 25% |
| ChangzhouFujiChangchaiRobinGasolineEngineCo.,Ltd. | 25% |
| JiangsuChangchaiMachineryCo.,Ltd. | 25% |
| ChangzhouXingshengRealEstateManagementCo.,Ltd. | 25% |
| ChangzhouXingshengRealEstateManagementCo.,Ltd. | 5% |
2.TaxPreferenceOn24October2018,theCompanyobtainedtheCertificatesforHigh-techEnterprisesagain,anditstillenjoys15-percentpreferentialrateforcorporateincometaxduringtheReportingPeriod;theCompany’scontrollingsubsidiary-ChangchaiWanzhouDieselEngineCo.,Ltd.,thecontrollingsubsidiarycompany,shallpaythecorporateincometaxattaxrate15%from1January2011to31December2020inaccordancewiththeNoticeoftheMinistryofFinance,theGeneralAdministrationofCustomsofPRCandtheNationalAdministrationofTaxationaboutthePreferentialTaxPoliciesfortheWesternDevelopment.Thewholly-ownedsubsidiariesChangzhouHoushengInvestmentCo.,Ltd.andChangzhouXingshengRealEstateManagementCo.,Ltd.areeligiblesmallenterpriseswithlowprofitsandshallpaythecorporateincometaxatthetaxratefrom5%to10%forsmallenterpriseswithlowprofitsduringtheReportingPeriod.
VII.NotestoMajorItemsintheConsolidatedFinancialStatementsoftheCompany
1.MonetaryAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Cashonhand | 348,885.71 | 181,115.21 |
| Bankdeposits | 489,583,551.02 | 545,271,159.50 |
| Othermonetaryassets | 110,342,332.72 | 93,136,985.38 |
| Total | 600,274,769.45 | 638,589,260.09 |
| Ofwhich:Totalamountdepositedoverseas | ||
| Totalamountofrestrictioninusebyguaranteed,pledgedorfrozen |
Attheperiod-end,therestrictedmonetaryassetsoftheCompanywasRMB106,637,411.65,ofwhichRMB105,752,474.15wasthecashdepositforbankacceptancebills,andRMB884,937.50wascashdepositforenvironment.
2.TradingFinancialAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Financialassetsatfairvaluethroughprofitorloss | 14,600,000.00 | 13,050,000.00 |
| Ofwhich:Financialproducts | 14,600,000.00 | 13,050,000.00 |
| Total | 14,600,000.00 | 13,050,000.00 |
3.NotesReceivable
(1)NotesReceivableListedbyCategory
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Bankacceptancebill | 508,401,509.54 | 606,283,023.05 |
| Total | 508,401,509.54 | 606,283,023.05 |
(2)ThereWereNoNotesReceivablePledgedbytheCompanyatthePeriod-end
(3)NotesReceivablewhichHadEndorsedbytheCompanyorhadDiscountedbuthadnotDueontheBalanceSheetDateatthePeriod-end
Unit:RMB
| Item | Amountofrecognitionterminationattheperiod-end | Amountofnotterminatedrecognitionattheperiod-end |
| Bankacceptancebill | 372,860,750.83 | |
| Total | 372,860,750.83 |
(4)ThereWereNoNotesTransferredtoAccountsReceivablebecauseDraweroftheNotesFailedtoExecutetheContractorAgreementatthePeriod-end
4.AccountsReceivable
(1)AccountsReceivableClassifiedbyCategory
Unit:RMB
| Category | Endingbalance | Beginningbalance |
| Carryingamount | Baddebtprovision | Carryingvalue | Carryingamount | Baddebtprovision | Carryingvalue | |||||
| Amount | Proportion | Amount | Withdrawalproportion | Amount | Proportion | Amount | Withdrawalproportion | |||
| Accountsreceivableforwhichbaddebtprovisionseparatelyaccrued | 35,354,686.26 | 3.85 | 33,459,099.42 | 94.64 | 1,895,586.84 | 35,534,574.55 | 5.31 | 33,449,794.41 | 94.13 | 2,084,780.14 |
| Ofwhich: | ||||||||||
| Accountsreceivablewithsignificantamountforwhichbaddebtprovisionseparatelyaccrued | 30,515,544.63 | 3.32 | 28,619,957.79 | 93.79 | 1,895,586.84 | 30,642,717.62 | 4.58 | 28,557,937.48 | 93.20 | 2,084,780.14 |
| Accountsreceivablewithinsignificantamountforwhichbaddebtprovisionseparatelyaccrued | 4,839,141.63 | 0.53 | 4,839,141.63 | 100.00 | 0.00 | 4,891,856.93 | 0.73 | 4,891,856.93 | 100.00 | 0.00 |
| Accountsreceivableforwhichbaddebtprovisionaccruedbygroup | 882,796,356.12 | 96.15 | 154,292,250.39 | 17.48 | 728,504,105.73 | 633,062,365.04 | 94.69 | 215,845,088.31 | 34.10 | 417,217,276.73 |
| Ofwhich: | ||||||||||
| Accountsreceivableforwhichbaddebt | 882,796,356.12 | 96.15 | 154,292,250.39 | 17.48 | 728,504,105.73 | 633,062,365.04 | 94.69 | 215,845,088.31 | 34.10 | 417,217,276.73 |
| provisionaccruedbycreditriskfeaturesgroup | ||||||||||
| Total | 918,151,042.38 | 100.00 | 187,751,349.81 | 20.45 | 730,399,692.57 | 668,596,939.59 | 100.00 | 249,294,882.72 | 37.29 | 419,302,056.87 |
Accountreceivableswithdrawnbaddebtprovisionseparatelywithsignificantamountattheperiodend:
Unit:RMB
| Name | Endingbalance | |||
| Carryingamount | Baddebtprovision | Withdrawalproportion | Reasonofwithdrawal | |
| Customer1 | 1,470,110.64 | 1,470,110.64 | 100.00% | Expectedtodifficultlyrecover |
| Customer2 | 1,902,326.58 | 1,902,326.58 | 100.00% | Difficulttorecover |
| Customer3 | 6,215,662.64 | 6,215,662.64 | 100.00% | Difficulttorecover |
| Customer4 | 2,254,860.60 | 2,175,814.37 | 96.49% | Expectedtodifficultlyrecover |
| Customer5 | 3,633,081.23 | 1,816,540.62 | 50.00% | Expectedtodifficultlyrecover |
| Customer6 | 3,279,100.00 | 3,279,100.00 | 100.00% | Expectedtodifficultlyrecover |
| Customer7 | 2,068,377.01 | 2,068,377.01 | 100.00% | Expectedtodifficultlyrecover |
| Customer8 | 5,359,381.00 | 5,359,381.00 | 100.00% | Difficulttorecover |
| Customer9 | 2,584,805.83 | 2,584,805.83 | 100.00% | Difficulttorecover |
| Customer10 | 1,747,839.10 | 1,747,839.10 | 100.00% | Difficulttorecover |
| Total | 30,515,544.63 | 28,619,957.79 | -- | -- |
Accountsreceivableforwhichbaddebtprovisionaccruedbycreditriskfeaturesgroup:
Unit:RMB
| Aging | Endingbalance | ||
| Carryingamount | Baddebtprovision | Withdrawalproportion | |
| Within1year | 723,172,550.57 | 14,463,451.49 | 2.00 |
| 1to2years | 11,827,502.09 | 591,375.09 | 5.00 |
| 2to3years | 7,877,220.88 | 1,181,583.14 | 15.00 |
| 3to4years | 1,938,785.27 | 581,635.58 | 30.00 |
| 4to5years | 1,265,230.57 | 759,138.34 | 60.00 |
| Over5years | 136,715,066.75 | 136,715,066.75 | 100.00 |
| Total | 882,796,356.12 | 154,292,250.39 | -- |
Notesofthebasisofdeterminingthegroup:
Theaccountsreceivablewasadoptedtheaginganalysisbasedonthemonthswhentheaccountsincurredactually,amongwhichtheaccountsincurredearlierwillbeprioritytobesettledintermsofthecapitalturnover.ExplanationoftheinputvalueandassumptionadoptedtodeterminethewithdrawalamountofbaddebtprovisionontheCurrentPeriod:Withreferencetotheexperienceofthehistoricalcreditloss,combiningwiththepredictionofthepresentstatusandfuturefinancialsituation,thecomparisontablewaspreparedbetweentheagingoftheaccountsreceivableandestimatedcreditlossrateinthedurationandtocalculatetheestimatedcreditloss.Pleaserefertotherelevantinformationofdisclosureofbaddebtprovisionofotheraccountsreceivableifadoptingthegeneralmodeofexpectedcreditlosstowithdrawbaddebtprovisionofaccountsreceivable.
□Applicable√NotapplicableDisclosurebyaging
Unit:RMB
| Aging | Carryingamount |
| Within1year(including1year) | 723,172,550.56 |
| 1to2years | 12,928,501.44 |
| 2to3years | 11,061,670.64 |
| Over3years | 170,988,319.74 |
| 3to4years | 5,336,135.78 |
| 4to5years | 2,864,816.64 |
| Over5years | 162,787,367.32 |
| Total | 918,151,042.38 |
(2)BadDebtProvisionWithdrawn,ReversedorRecoveredintheReportingPeriodInformationofbaddebtprovisionwithdrawn:
Unit:RMB
| Category | Beginningbalance | ChangesintheReportingPeriod | Endingbalance | ||
| Withdrawal | Reversalorrecovery | Write-off | |||
| Baddebtprovisionwithdrawnseparately | 33,449,794.41 | 65,231.52 | 55,926.51 | 33,459,099.42 | |
| Baddebtprovisionwithdrawnbygroup | 215,845,088.31 | 6,592,063.00 | 68,144,900.92 | 154,292,250.39 | |
| Total | 249,294,882.72 | 6,657,294.52 | 55,926.51 | 68,144,900.92 | 187,751,349.81 |
OfwhichbaddebtprovisionreversedorrecoveredwithsignificantamountintheReportingPeriod:No.
(3)AccountsReceivablewithActualVerificationduringtheReportingPeriod
Unit:RMB
| Item | Verifiedamount |
| Accountsreceivablewithactualverification | 68,144,900.92 |
Ofwhichtheverificationofsignificantaccountsreceivable:
Unit:RMB
| Nameoftheentity | Natureoftheaccountsreceivable | Verifiedamount | Reasonforverification | Verificationproceduresperformed | Arisingfromrelated-partytransactionsornot |
| WuweiJinwaVehicleManufacturingCo.,Ltd. | Baddebtlosses | 10,000,000.00 | Theagingofcanceledreceivablesshallexceed5yearsandresultfromfruitlesscollection,andifanysingleclient’slargeamountisinvolvedwithoutanybusinesstransactionwiththeCompanyforoverten | TheCompanyheldthe3rdMeetingofthe9thBoardofDirectorsandthe3rdMeetingofthe9thSupervisoryCommitteeon28June2020andapprovedtheProposalonVerificationofSomeAccountsReceivable. | Not |
| XuzhouZhengdaAgriculturalMachineryCompany | 7,583,232.65 | ||||
| ShandongAgriculturalMachineryGroupHezeAgriculturalMachineryCompany | 4,581,880.41 |
| SichuanTiantaiElectromechanicalAgriculturalMachineryCo.,Ltd. | 3,600,000.00 | years,theclient’squalificationforbusinessoperationshallbecanceledortheinsolvencyliquidationisfinishedwithoutanyproductionandoperationactivities. | |
| PuyangShifengAgriculturalMachineryCompany | 2,752,840.00 | ||
| JiningWaterConservancyDrillingMachineryFactory | 2,450,966.67 | ||
| ZhanjiangAgriculturalMachineryCompany | 2,180,243.72 | ||
| KaifengTractorManufacturingFactory | 1,976,282.47 | ||
| LinyiAgriculturalMachineryGroupCorporation | 1,860,830.82 | ||
| HenanZhongcuIndustrialCorporation | 1,758,686.48 | ||
| ShanxiJiaochengXinyuanIronFactory | 1,662,052.98 | ||
| GanyuAgriculturalMachineryCo.,Ltd. | 1,285,160.60 | ||
| NanningChangshunrong | 1,236,225.30 |
| AgriculturalMachineryCo.,Ltd. | ||
| LongmaAgriculturalVehicleCo.,Ltd. | 1,235,170.95 | |
| XinjiangKorlaFeihongAgriculturalMachineryCo.,Ltd. | 1,200,000.00 | |
| GaotangRaoyangCountyAgriculturalMachineryCity | 1,149,217.70 | |
| HainingBusGeneralFactory | 848,158.92 | |
| YunnanNanpingAgriculturalMachineryManagement | 841,642.86 | |
| TongshanDongfangAgriculturalMachinerySalesDepartment | 830,000.00 | |
| JuningHuaihaiAgriculturalMachineryTradingCompany | 800,000.00 | |
| JiangxiLidaAgriculturalMachinerySalesCo.,Ltd. | 797,786.72 |
| ShenyangFusangAgriculturalMachineryCorporation | 796,226.73 | ||||
| AnhuiGuoyangAgriculturalMachineryCorporation | 760,197.20 | ||||
| Tai’anGuotaiTractorFactory | 728,666.36 | ||||
| LijinYongxingAgriculturalMachinerySalesCo.,Ltd. | 677,250.00 | ||||
| HefeiXinfaMaterialsCo.,Ltd. | 551,305.36 | ||||
| ChangqingCountyAgriculturalMachineryCompany | 549,800.00 | ||||
| HenanBoaiAgriculturalMachineryCompany | 537,698.10 | ||||
| ShandongShuangliGroupCo.,Ltd. | 12,343,782.28 | ||||
| ShandongDongchangGroupLaborServiceCorporation | 520,892.51 | ||||
| Total | -- | 68,096,197.79 | -- | -- | -- |
(4)Top5oftheEndingBalanceoftheAccountsReceivableCollectedaccordingtotheArrearsParty
Unit:RMB
| Nameoftheentity | Endingbalanceofaccountsreceivable | Proportiontototalendingbalanceofaccountsreceivable | Endingbalanceofbaddebtprovision |
| Customer1 | 376,475,098.82 | 41.00% | 7,529,501.98 |
| Customer2 | 54,293,467.67 | 5.91% | 1,085,869.35 |
| Customer3 | 32,287,845.17 | 3.52% | 763,817.03 |
| Customer4 | 21,395,243.36 | 2.33% | 427,904.87 |
| Customer5 | 18,593,170.87 | 2.03% | 371,863.42 |
| Total | 503,044,825.89 | 54.79% |
Attheendoftheperiod,thesumofthetopfiveaccountsreceivablecollectedaccordingtothearrearsamountedtoRMB503,044,825.89,accountingfor54.79%ofthetotalbalanceattheendoftheperiod.ThecorrespondingendingbalanceofbaddebtprovisionisRMB10,178,956.65.
5.Prepayments
(1)ListbyAgingAnalysis
Unit:RMB
| Aging | Endingbalance | Beginningbalance | ||
| Amount | Proportion | Amount | Proportion | |
| Within1year | 8,202,915.10 | 80.36% | 10,857,776.65 | 83.72% |
| 1to2years | 769,139.60 | 7.53% | 993,030.99 | 7.66% |
| 2to3years | 233,809.27 | 2.29% | 115,335.90 | 0.89% |
| Over3years | 1,002,582.11 | 9.82% | 1,002,602.62 | 7.73% |
| Total | 10,208,446.08 | -- | 12,968,746.16 | -- |
Therewasnoprepaymentwithsignificantamountagingoveroneyearasoftheperiod-end.
(2)Top5oftheEndingBalanceofthePrepaymentsCollectedaccordingtothePrepaymentTargetAttheperiod-end,thetotaltop5oftheendingbalanceoftheprepaymentscollectedaccordingtotheprepaymenttargetwasRMB5,352,129.27accountingfor52.43%ofthetotalendingbalanceofprepayments.
6.OtherReceivables
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Interestreceivable | 0.00 | 0.00 |
| Dividendreceivable | 0.00 | 0.00 |
| Otherreceivables | 10,280,692.50 | 9,703,390.94 |
| Total | 10,280,692.50 | 9,703,390.94 |
(1)OtherReceivables
1)OtherReceivablesClassifiedbyAccountsNature
Unit:RMB
| Nature | Endingcarryingvalue | Beginningcarryingvalue |
| Marginandcashpledge | 4,200.00 | 7,758.60 |
| Intercoursefunds | 27,822,768.62 | 24,536,151.71 |
| Pettycashandborrowingsbyemployees | 1,600,421.35 | 3,208,541.67 |
| Other | 13,654,933.26 | 15,374,916.41 |
| Total | 43,082,323.23 | 43,127,368.39 |
2)WithdrawalofBadDebtProvision
Unit:RMB
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Total |
| Expectedcreditlossofthenext12months | Expectedlossintheduration(creditimpairmentnotoccurred) | Expectedlossintheduration(creditimpairmentoccurred) | ||
| Balanceof1January2020 | 33,423,977.45 | 33,423,977.45 | ||
| Balanceof1January2020intheCurrentPeriod | —— | —— | ||
| --TransfertoSecondstage |
| --TransfertoThirdstage | |||
| --ReversetoSecondstage | |||
| --ReversetoFirststage | |||
| WithdrawaloftheCurrentPeriod | 26,813.06 | 26,813.06 | |
| ReversaloftheCurrentPeriod | 649,159.78 | 649,159.78 | |
| Write-offsoftheCurrentPeriod | |||
| VerificationoftheCurrentPeriod | |||
| Otherchanges | |||
| Balanceof30June2020 | 32,801,630.73 | 32,801,630.73 |
Changesofcarryingamountwithsignificantamountchangedoflossprovisioninthecurrentperiod
□Applicable√NotapplicableDisclosurebyaging
Unit:RMB
| Aging | Endingbalance |
| Within1year(including1year) | 5,923,228.62 |
| 1to2years | 3,274,854.15 |
| 2to3years | 605,754.36 |
| Over3years | 33,278,486.10 |
| 3to4years | 1,014,471.63 |
| 4to5years | 190,365.24 |
| Over5years | 32,073,649.23 |
| Total | 43,082,323.23 |
3)BadDebtProvisionWithdrawn,ReversedorRecoveredintheReportingPeriodInformationofwithdrawalofbaddebtprovision:
Unit:RMB
| Category | Beginningbalance | ChangesintheReportingPeriod | Endingbalance | |||
| Withdrawal | Reversalorrecovery | Write-off | Other | |||
| Baddebtprovisionforwhichaccruedseparately | 5,042,448.58 | 25,814.56 | 5,068,263.14 | |||
| Baddebtprovisionforwhichaccruedbygroup | 28,381,528.87 | 998.50 | 649,159.78 | 27,733,367.59 | ||
| Total | 33,423,977.45 | 26,813.06 | 649,159.78 | 32,801,630.73 | ||
4)ThereWasNoParticularsoftheActualVerificationofOtherReceivablesduringtheReportingPeriod
5)Top5oftheEndingBalanceoftheOtherReceivablesCollectedaccordingtotheArrearsParty
Unit:RMB
| Nameoftheentity | Nature | Endingbalance | Aging | Proportiontoendingbalanceofotherreceivables | Endingbalanceofbaddebtprovision |
| ChangzhouChangjiangCastingMaterialsCo.,Ltd. | Intercoursefunds | 5,000,000.00 | Within1year | 11.61% | 100,000.00 |
| ChangzhouCompressorsFactory | Intercoursefunds | 2,940,000.00 | Over5years | 6.82% | 2,940,000.00 |
| ChangchaiGroupImp.&Exp.Co.,Ltd. | Intercoursefunds | 2,853,188.02 | Over5years | 6.62% | 2,853,188.02 |
| ChangzhouNewDistrictAccountingCentre | Intercoursefunds | 1,626,483.25 | Over5years | 3.78% | 1,626,483.25 |
| ChangchaiGroupSettlementCentre | Intercoursefunds | 1,140,722.16 | Over5years | 2.65% | 1,140,722.16 |
| Total | -- | 13,560,393.43 | -- | 31.48% | 8,660,393.43 |
7.InventoryWhethertheCompanyneedstocomplywiththerequirementsofrealestateindustryNo
(1)CategoryofInventory
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Fallingpricereserves | Carryingvalue | Carryingamount | Fallingpricereserves | Carryingvalue | |
| Rawmaterials | 126,396,694.75 | 7,158,592.68 | 119,238,102.07 | 125,757,856.89 | 6,539,831.39 | 119,218,025.50 |
| Materialsprocessedoncommission | 12,579,124.50 | 183,111.28 | 12,396,013.22 | 12,444,566.41 | 183,111.28 | 12,261,455.13 |
| Goodsinprocess | 120,787,978.56 | 25,872,020.66 | 94,915,957.90 | 142,399,981.66 | 26,985,350.14 | 115,414,631.52 |
| Finishedgoods | 215,181,247.70 | 15,698,168.05 | 199,483,079.65 | 239,701,513.09 | 15,404,153.29 | 224,297,359.80 |
| Lowpricedandeasilywornarticles | 3,377,456.53 | 1,205,538.85 | 2,171,917.68 | 3,373,235.80 | 1,205,538.85 | 2,167,696.95 |
| Total | 478,322,502.04 | 50,117,431.52 | 428,205,070.52 | 523,677,153.85 | 50,317,984.95 | 473,359,168.90 |
(2)FallingPriceReserves
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance | ||
| Withdrawal | Other | Reversalorwrite-off | Other | |||
| Rawmaterials | 6,539,831.39 | 661,773.68 | 43,012.40 | 7,158,592.67 | ||
| Materialsprocessedoncommission | 183,111.28 | 183,111.28 | ||||
| Goodsinprocess | 26,985,350.14 | 9,115,845.06 | 10,229,174.54 | 25,872,020.66 | ||
| Finishedgoods | 15,404,153.29 | 6,566,186.26 | 6,272,171.49 | 15,698,168.06 | ||
| Lowpricedandeasilywornarticles | 1,205,538.85 | 1,205,538.85 | ||||
| Total | 50,317,984.95 | 16,343,805.00 | 16,544,358.43 | 50,117,431.52 |
(3)ThereWasNoCapitalizedBorrowingExpenseintheEndingBalanceofInventories
8.OtherCurrentAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| TheVATtaxcredits | 7,748,855.06 | 6,043,473.29 |
| Prepaidexpense | 802,628.31 | 98,856.26 |
| Other | 25,479.42 | 278,945.92 |
| Total | 8,576,962.79 | 6,421,275.47 |
9.Long-termEquityInvestment
Unit:RMB
| Investees | Beginningbalance(carryingvalue) | Increase/decrease | Endingbalance(carryingvalue) | Endingbalanceofdepreciationreserves | |||||||
| Additionalinvestment | Reducedinvestment | Gainorlossrecognizedundertheequitymethod | Adjustmentofothercomprehensiveincome | Changesinotherequity | Cashbonusorprofitannouncedtoissue | Withdrawalofdepreciationreserves | Other | ||||
| II.Associatedenterprises | |||||||||||
| BeijingTsinghuaIndustrialInvestmentManagementCo.,Ltd. | 0 | 0 | 44,182.50 | |
| Subtotal | 0 | 0 | 44,182.50 | |
| Total | 0 | 0 | 44,182.50 |
10.OtherEquityInstrumentInvestment
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| ChangzhouSynergeticInnovationPrivateEquityFund(LimitedPartnership) | 100,000,000.00 | 100,000,000.00 |
| Otherequityinstrumentinvestmentmeasuredbyfairvalue | 362,160,000.00 | 432,886,000.00 |
| Total | 462,160,000.00 | 532,886,000.00 |
Non-tradingequityinstrumentinvestmentdisclosedbycategory
Unit:RMB
| Item | Dividendincomerecognized | Accumulativegains | Accumulativelosses | Amountofothercomprehensivetransferredtoretainedearnings | Reasonforassigningtomeasurebyfairvalueofwhichchangesbeincludedtoothercomprehensiveincome | Reasonforothercomprehensiveincometransferredtoretainedearnings |
| FotonMotorCo.,Ltd. | 39,015,000.00 | Non-tradingequityinvestment |
| BankofJiangsu | 4,865,000.00 | 27,725,000.00 | Non-tradingequityinvestment | |
| ChangzhouSynergeticInnovationPrivateEquityFund(LimitedPartnership) | Non-tradingequityinvestment | |||
| Total | 4,865,000.00 | 66,740,000.00 |
Othernotes:
(1)ThestocksoflistedcompaniessuchasFotonMotorCo.,Ltd.heldbytheCompanybelongtonon-tradingequityinvestment.Therefore,theinvestmentwasdividedintothefinancialassetsassignedmeasuredbyfairvalueandthechangesbeincludedintheothercomprehensiveincome.
(2)Thecorporatesecuritiesofaccommodationbusinessstillonlendingattheperiod-end:7,183,900sharesofFotonMotorCo.,Ltd.and1,900,000ofBankofJiangsu.
12.OtherNon-currentFinancialAssets
Unit:RMB
12.InvestmentProperty
(1)InvestmentPropertyAdoptingtheCostMeasurementMode
√Applicable□Notapplicable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| JiangsuLianceElectromechanicalTechnologyCo.,Ltd. | 7,200,000.00 | 7,200,000.00 |
| KailongHighTechnologyCo.,Ltd. | 20,001,268.00 | 20,001,268.00 |
| GuizhouWarmenPharmaceuticalCo,Ltd. | 200,104.80 | 200,104.80 |
| GuizhouAndaEnergyTechnologyCo.,Ltd. | 195,297.49 | 195,297.49 |
| HenanLantianGasCo.,Ltd. | 160,744.76 | 160,744.76 |
| HebeiSongheRecyclingResourcesCo.,Ltd. | 104,699.44 | 104,699.44 |
| AnhuiHofoElectromechanicalCo.,Ltd. | 89,987.14 | 89,987.14 |
| JiangsuHoushengNewEnergyTechnologyCo.,Ltd. | 50,000,000.00 | 50,000,000.00 |
| Total | 77,952,101.63 | 77,952,101.63 |
| Item | Housesandbuildings | Total |
| I.Originalcarryingvalue | ||
| 1.Beginningbalance | 87,632,571.14 | 87,632,571.14 |
| 2.Increasedamountoftheperiod | ||
| (1)Outsourcing | ||
| (2)Transferfrominventories/fixedassets/constructioninprogress | ||
| (3)Enterprisecombinationincrease | ||
| 3.Decreasedamountoftheperiod | ||
| (1)Disposal | ||
| (2)Othertransfer | ||
| 4.Endingbalance | 87,632,571.14 | 87,632,571.14 |
| II.Accumulativedepreciationandaccumulativeamortization | ||
| 1.Beginningbalance | 39,184,904.31 | 39,184,904.31 |
| 2.Increasedamountoftheperiod | 1,104,170.40 | 1,104,170.40 |
| (1)Withdrawaloramortization | 1,104,170.40 | 1,104,170.40 |
| 3.Decreasedamountoftheperiod | ||
| (1)Disposal | ||
| (2)Othertransfer | ||
| 4.Endingbalance | 40,289,074.71 | 40,289,074.71 |
| III.Depreciationreserves | ||
| 1.Beginningbalance | ||
| 2.Increasedamountoftheperiod | ||
| (1)Withdrawal | ||
| 3.Decreasedamountoftheperiod | ||
| (1)Disposal | ||
| (2)Othertransfer | ||
| 4.Endingbalance | ||
| IV.Carryingvalue | ||
| 1.Endingcarryingvalue | 47,343,496.43 | 47,343,496.43 |
| 2.Beginningcarryingvalue | 48,447,666.83 | 48,447,666.83 |
13.FixedAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Fixedassets | 437,411,354.41 | 457,722,667.32 |
| Disposaloffixedassets | ||
| Total | 437,411,354.41 | 457,722,667.32 |
(1)ListofFixedAssets
Unit:RMB
| Item | Housesandbuildings | Machineryequipment | Transportationequipment | Otherequipment | Total |
| I.Originalcarryingvalue | |||||
| 1.Beginningbalance | 448,688,661.22 | 956,138,240.18 | 17,283,169.54 | 42,791,587.37 | 1,464,901,658.31 |
| 2.Increasedamountoftheperiod | 16,099,288.86 | 1,086,367.26 | 1,088,767.65 | 307,824.30 | 18,582,248.07 |
| (1)Purchase | 418,626.65 | 77,522.12 | 243,538.31 | 196,178.30 | 935,865.38 |
| (2)Transferfromconstructioninprogress | 15,680,662.21 | 1,008,845.14 | 845,229.34 | 111,646.00 | 17,646,382.69 |
| (3)Enterprisecombinationincrease | |||||
| 3.Decreasedamountoftheperiod | - | 10,459,143.75 | 1,595,757.66 | 327,228.60 | 12,382,130.01 |
| (1)Disposalorscrap | - | 10,459,143.75 | 1,595,757.66 | 327,228.60 | 12,382,130.01 |
| 4.Endingbalance | 464,787,950.08 | 946,765,463.69 | 16,776,179.53 | 42,772,183.07 | 1,471,101,776.37 |
| II.Accumulativedepreciation |
| 1.Beginningbalance | 281,666,582.26 | 674,545,182.51 | 13,892,318.80 | 35,580,792.42 | 1,005,684,875.99 |
| 2.Increasedamountoftheperiod | 8,083,059.02 | 30,085,167.12 | 558,563.27 | 90,156.56 | 38,816,945.97 |
| (1)Withdrawal | 8,083,059.02 | 30,085,167.12 | 558,563.27 | 90,156.56 | 38,816,945.97 |
| 3.Decreasedamountoftheperiod | 1,235.25 | 10,459,143.75 | 1,520,233.58 | 324,902.42 | 12,305,515.00 |
| (1)Disposalorscrap | 1,235.25 | 10,459,143.75 | 1,520,233.58 | 324,902.42 | 12,305,515.00 |
| 4.Endingbalance | 289,748,406.03 | 694,171,205.88 | 12,930,648.49 | 35,346,046.56 | 1,032,196,306.96 |
| III.Depreciationreserves | |||||
| 1.Beginningbalance | 1,494,115.00 | 1,494,115.00 | |||
| 2.Increasedamountoftheperiod | |||||
| (1)Withdrawal | |||||
| 3.Decreasedamountoftheperiod | |||||
| (1)Disposalorscrap | |||||
| 4.Endingbalance | 1,494,115.00 | 1,494,115.00 | |||
| IV.Carryingvalue | |||||
| 1.Endingcarryingvalue | 175,039,544.05 | 251,100,142.81 | 3,845,531.04 | 7,426,136.51 | 437,411,354.41 |
| 2.Beginningcarryingvalue | 167,022,078.96 | 280,098,942.67 | 3,390,850.74 | 7,210,794.95 | 457,722,667.32 |
14.ConstructioninProgress
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Constructioninprogress | 71,668,151.01 | 63,216,445.03 |
| Engineeringmaterials | 31,338,225.01 | 28,141,711.21 |
| Total | 103,006,376.02 | 91,358,156.24 |
(1)ListofConstructioninProgress
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Depreciationreserves | Carryingvalue | Carryingamount | Depreciationreserves | Carryingvalue | |
| Expansioncapacityofmulti-cylinder(The2ndPeriod) | 1,097,435.90 | 1,097,435.90 | 11,375,531.74 | 11,375,531.74 | ||
| DieselEngineCylinderBodyFlexibleManufacturingLine | 38,444,213.42 | 38,444,213.42 | 38,266,788.31 | 38,266,788.31 | ||
| 35KVSubstation | 1,321,959.41 | 1,321,959.41 | ||||
| Oilywaterseparatingequipment | 340,800.00 | 340,800.00 | 340,800.00 | 340,800.00 | ||
| Relocationprojectoflightengineandcasting | 28,903,701.88 | 28,903,701.88 | 1,687,194.64 | 1,687,194.64 | ||
| Equipmenttobeinstalledandpaymentforprojects | 2,881,999.81 | 2,881,999.81 | 10,224,170.93 | 10,224,170.93 | ||
| Total | 71,668,151.01 | 71,668,151.01 | 63,216,445.03 | 63,216,445.03 |
(2)ChangesinSignificantConstructioninProgressduringtheReportingPeriod
Unit:RMB
| Item | Budget | Beginningbalance | Increasedamount | Transferredinfixedassets | Otherdecreasedamount | Endingbalance | Proportionofaccumulatedinvestmentinconstructionstobudget | Jobschedule | Accumulatedamountofinterestcapitalization | Ofwhich:AmountofcapitalizedinterestsfortheReportingPeriod | CapitalizationrateofinterestsfortheReportingPeriod | Capitalresources |
| Expansioncapacityofmulti-cylinder(The2ndPeriod) | 79,000,000.00 | 11,375,531.74 | 10,278,095.84 | 1,097,435.90 | Uncompleted | Self-funded |
| DieselEngineCylinderBodyFlexibleManufacturingLine | 116,040,000.00 | 38,266,788.31 | 217,769.94 | 40,344.83 | 38,444,213.42 | Uncompleted | Self-funded | |||
| 35KVSubstation | 73,290,000.00 | 1,321,959.41 | 390,676.04 | 1,712,635.45 | 0.00 | Self-funded | ||||
| Relocationprojectoflightengineandcasting | 452,863,800.00 | 1,687,194.64 | 27,216,507.24 | 28,903,701.88 | 6.38% | Uncompleted | Self-funded | |||
| Total | 721,193,800.00 | 52,651,474.10 | 27,824,953.22 | 12,031,076.12 | 68,445,351.20 | -- | -- | -- |
(3)EngineeringMaterials
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Depreciationreserves | Carryingvalue | Carryingamount | Depreciationreserves | Carryingvalue | |
| Engineeringmaterials | 31,338,225.01 | 31,338,225.01 | 28,141,711.21 | 28,141,711.21 | ||
| Total | 31,338,225.01 | 31,338,225.01 | 28,141,711.21 | 28,141,711.21 | ||
15.IntangibleAssets
(1)ListofIntangibleAssets
Unit:RMB
| Item | Landuseright | Patentright | Licensefee | Total |
| I.Originalcarryingvalue | ||||
| 1.Beginningbalance | 144,770,507.85 | 12,866,992.58 | 5,488,000.00 | 163,125,500.43 |
| 2.Increasedamountoftheperiod | ||||
| (1)Purchase | ||||
| (2)InternalR&D | ||||
| (3)Businesscombinationincrease | ||||
| 3.Decreasedamountoftheperiod | ||||
| (1)Disposal | ||||
| 4.Endingbalance | 144,770,507.85 | 12,866,992.58 | 5,488,000.00 | 163,125,500.43 |
| II.Accumulatedamortization | ||||
| 1.Beginningbalance | 51,100,000.82 | 10,771,116.13 | 1,554,933.22 | 63,426,050.17 |
| 2.Increasedamountoftheperiod | 1,485,989.14 | 564,866.00 | 274,399.98 | 2,325,255.12 |
| (1)Withdrawal | 1,485,989.14 | 564,866.00 | 274,399.98 | 2,325,255.12 |
| 3.Decreasedamountoftheperiod | ||||
| (1)Disposal | ||||
| 4.Endingbalance | 52,585,989.96 | 11,335,982.13 | 1,829,333.20 | 65,751,305.29 |
| III.Depreciationreserves | ||||
| 1.Beginningbalance | ||||
| 2.Increasedamountoftheperiod | ||||
| (1)Withdrawal |
| 3.Decreasedamountoftheperiod | ||||
| (1)Disposal | ||||
| 4.Endingbalance | ||||
| IV.Carryingvalue | ||||
| 1.Endingcarryingvalue | 92,184,517.89 | 1,531,010.45 | 3,658,666.80 | 97,374,195.14 |
| 2.Beginningcarryingvalue | 93,670,507.03 | 2,095,876.45 | 3,933,066.78 | 99,699,450.26 |
16.Long-termPrepaidExpenses
| Item | Beginningbalance | Increase | Amortizedamount | Decrease | Endingbalance |
| Furnitureofemployeedormitory,etc. | 53,497.80 | 19,902.30 | 33,595.50 | ||
| Total | 53,497.80 | 19,902.30 | 33,595.50 |
17.DeferredIncomeTaxAssets/DeferredIncomeTaxLiabilities
(1)DeferredIncomeTaxAssetsthatHadnotBeenOff-set
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||
| Deductibletemporarydifference | Deferredincometaxassets | Deductibletemporarydifference | Deferredincometaxassets | |
| Provisionforimpairmentofassets | 13,050,698.84 | 1,979,974.43 | 6,682,294.34 | 1,023,863.04 |
| Total | 13,050,698.84 | 1,979,974.43 | 6,682,294.34 | 1,023,863.04 |
(2)DeferredIncomeTaxLiabilitiesHadNotBeenOff-set
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||
| Taxabletemporarydifference | Deferredincometaxliabilities | Taxabletemporarydifference | Deferredincometaxliabilities | |
| Changesinfairvalueofotherequityinstrumentinvestment | 302,376,000.00 | 45,356,400.00 | 373,011,500.00 | 55,951,725.00 |
| Assetsevaluationappreciationforbusinesscombinationnotunderthesamecontrol | 4,169,298.89 | 1,042,324.72 | 4,524,661.07 | 1,131,165.27 |
| Total | 306,545,298.89 | 46,398,724.72 | 377,536,161.07 | 57,082,890.27 |
(3)ListofUnrecognizedDeferredIncomeTaxAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Baddebtprovision | 207,502,281.70 | 276,036,565.83 |
| Fallingpricereservesofinventories | 50,117,431.52 | 50,317,984.95 |
| Total | 257,619,713.22 | 326,354,550.78 |
18.OtherNon-currentAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Depreciationreserves | Carryingvalue | Carryingamount | Depreciationreserves | Carryingvalue | |
| Advancespaymentofequipments | 177,400.00 | 177,400.00 | ||||
| Total | 177,400.00 | 177,400.00 | ||||
19.Short-termBorrowings
(1)CategoryofShort-termBorrowings
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Guaranteedloans | 10,000,000.00 | 10,000,000.00 |
| Mortgageloans | 7,000,000.00 | 7,000,000.00 |
| Creditloans | 5,000,000.00 | 5,000,000.00 |
| Total | 22,000,000.00 | 22,000,000.00 |
(2)ThereWasNoShort-termBorrowingsOverduebutUnpaid.
20.NotesPayable
Unit:RMB
| Category | Endingbalance | Beginningbalance |
| Bankacceptancebill | 479,515,000.00 | 403,035,000.00 |
| Total | 479,515,000.00 | 403,035,000.00 |
21.AccountsPayable
(1)ListofAccountsPayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Loans | 580,840,786.08 | 525,625,016.89 |
| Total | 580,840,786.08 | 525,625,016.89 |
(2)ThereWasNoSignificantAccountsPayableAgingoverOneYear
22.ContractLiabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Contractliabilities | 31,527,438.40 | 31,789,001.78 |
| Total | 31,527,438.40 | 31,789,001.78 |
Referto“VSignificantAccountingPolicies,Estimates-33(1)ChangestoSignificantAccountingPolicies”forthedifferencebetweenthebeginningbalanceandendingbalanceofpriorperiod(31December2019).
23.PayrollPayable
(1)ListofPayrollPayable
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance |
| I.Short-termsalary | 44,559,015.79 | 117,786,801.08 | 143,388,161.32 | 18,957,655.55 |
| II.Post-employmentbenefit-definedcontributionplans | 8,626,798.61 | 8,626,798.61 | ||
| III.Terminationbenefits | 306,693.00 | 306,693.00 | ||
| Total | 44,559,015.79 | 126,720,292.69 | 152,321,652.93 | 18,957,655.55 |
(2)ListofShort-termSalary
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance |
| 1.Salary,bonus,allowance,subsidy | 36,894,953.71 | 98,842,788.54 | 124,423,164.48 | 11,314,577.77 |
| 2.Employeewelfare | 1,592.74 | 1,451,667.16 | 1,451,667.16 | 1,592.74 |
| 3.Socialinsurance | 5,601,857.94 | 5,601,857.94 | ||
| Ofwhich:Medicalinsurancepremiums | 4,466,934.01 | 4,466,934.01 | ||
| Work-relatedinjuryinsurance | 388,321.79 | 388,321.79 | ||
| Maternityinsurance | 746,602.14 | 746,602.14 | ||
| 4.Housingfund | 9,419,253.40 | 9,419,253.40 | ||
| 5.Laborunionbudgetandemployeeeducationbudget | 7,662,469.34 | 2,471,234.04 | 2,492,218.34 | 7,641,485.04 |
| 6.Short-termabsencewithsalary | ||||
| 7.Short-termprofitsharingscheme | ||||
| Total | 44,559,015.79 | 117,786,801.08 | 143,388,161.32 | 18,957,655.55 |
(3)ListofDefinedContributionPlans
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance |
| 1.Basicpensionbenefits | 8,207,802.43 | 8,207,802.43 | ||
| 2.Unemploymentinsurance | 257,200.18 | 257,200.18 | ||
| 3.Enterpriseannuities | 161,796.00 | 161,796.00 | ||
| Total | 8,626,798.61 | 8,626,798.61 |
24.TaxesPayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| VAT | 532,081.43 | 1,290,060.47 |
| Corporateincometax | 5,430,266.89 | 5,090,781.18 |
| Personalincometax | 88,470.51 | 367,624.40 |
| Urbanmaintenanceandconstructiontax | 886,662.32 | 970,067.92 |
| Propertytax | 94,257.18 | 94,257.20 |
| Landusetax | 100,135.19 | 100,135.19 |
| Stampduty | 5,554.00 | 6,282.95 |
| EducationSurcharge | 160,541.11 | 99,824.96 |
| Comprehensivefees | 954,843.18 | 1,075,134.76 |
| Environmentalprotectiontax | 230.34 | 213.55 |
| Total | 8,253,042.15 | 9,094,382.58 |
25.OtherPayables
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Interestpayable | ||
| Dividendspayable | 3,891,433.83 | 3,891,433.83 |
| Otherpayables | 186,845,303.36 | 201,172,711.27 |
| Total | 190,736,737.19 | 205,064,145.10 |
(1)DividendsPayable
Unit:RMB
Thereasonfornon-paymentforoveroneyear:Notgottenbyshareholdersyet.
(2)OtherPayables
1)OtherPayablesListedbyNatureofAccount
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Margin&cashpledged | 3,574,326.23 | 3,271,541.83 |
| Intercoursefundsamongunits | 10,501,265.91 | 11,321,462.95 |
| Intercoursefundsamongindividuals | 423,702.83 | 430,612.05 |
| Salesdiscountandthreeguarantees | 133,978,988.49 | 143,497,522.22 |
| Other | 38,367,019.90 | 42,651,572.22 |
| Total | 186,845,303.36 | 201,172,711.27 |
2)SignificantOtherPayablesAgingoverOneYearThesignificantotherpayablesagingoveroneyearattheperiod-endmainlyreferredtotheunsettledtemporarycreditsandchargesowned.
26.OtherCurrentLiabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Saleservicefee | 229,387.96 |
| Item | Endingbalance | Beginningbalance |
| Ordinarysharedividends | 3,243,179.97 | 3,243,179.97 |
| Interestofpreferredshares/perpetualbondclassifiedasequityinstrument | ||
| Dividendsfornon-controllingshareholders | 648,253.86 | 648,253.86 |
| Other | ||
| Total | 3,891,433.83 | 3,891,433.83 |
| Transportationstoragefee | 132,551.86 | |
| Electriccharge | 2,147,922.70 | 815,772.56 |
| Rentalexpense | 92,920.38 | |
| Total | 2,240,843.08 | 1,177,712.38 |
27.DeferredIncome
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance | Reasonforformation |
| Governmentgrants | 58,864,111.22 | 532,186.81 | 58,331,924.41 | Governmentappropriation | |
| Total | 58,864,111.22 | 532,186.81 | 58,331,924.41 | -- |
Iteminvolvinggovernmentgrants:
Unit:RMB
| Item | Beginningbalance | Amountofnewsubsidy | Amountrecordedintonon-operatingincomeintheReportingPeriod | AmountrecordedintootherincomeintheReportingPeriod | AmountoffsetcostintheReportingPeriod | Otherchanges | Endingbalance | Relatedtoassets/relatedincome |
| Electriccontrolofdieselengineresearchanddevelopmentandindustrializationallocations | 248,400.00 | 199,200.00 | 49,200.00 | Relatedtoassets | ||
| Nationalmajorprojectspecialallocations | 28,770,000.00 | 28,770,000.00 | Relatedtoassets | |||
| Removecompensation | 19,845,711.22 | 332,986.81 | 19,512,724.41 | Relatedtoassets |
| ResearchanddevelopmentandindustrializationallocationsofnationalIII/IVstandardhigh-poweredefficientdieselengineforagriculturaluse | 10,000,000.00 | 10,000,000.00 | Relatedtoassets | |||
| Total | 58,864,111.22 | 532,186.81 | 58,331,924.41 |
28.ShareCapital
Unit:RMB
| Beginningbalance | Increase/decrease(+/-) | Endingbalance | |||||
| Newsharesissued | Bonusshares | Bonusissuefromprofit | Other | Subtotal | |||
| Thesumofshares | 561,374,326.00 | 561,374,326.00 | |||||
29.CapitalReserves
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance |
| Capitalpremium(premiumonstock) | 143,990,690.24 | 143,990,690.24 | ||
| Othercapitalreserves | 20,337,975.19 | 20,337,975.19 | ||
| Total | 164,328,665.43 | 164,328,665.43 |
30.OtherComprehensiveIncome
Unit:RMB
| Item | Beginningbalance | ReportingPeriod | Endingbalance | |||||
| IncomebeforetaxationintheCurrentPeriod | Less:RecordedinothercomprehensiveincomeinpriorperiodandtransferredinprofitorlossintheCurrentPeriod | Less:RecordedinothercomprehensiveincomeinpriorperiodandtransferredinretainedearningsintheCurrentPeriod | Less:Incometaxexpense | AttributabletoownersoftheCompanyastheparentaftertax | Attributabletonon-controllinginterestsaftertax | |||
| I.Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorloss | 317,059,775.00 | -70,225,654.50 | 348,368.67 | -10,533,848.17 | -60,040,175.00 | 257,019,600.00 | ||
| Ofwhich:Changescausedbyre-measurementsondefinedbenefitpensionschemes | ||||||||
| Shareofothercomprehensiveincomeofinvesteesthatwillnotbereclassifiedtoprofitorlossunderequitymethod | ||||||||
| Changesinfairvalueofotherequityinstrumentinvestment | 317,059,775.00 | -70,225,654.50 | 348,368.67 | -10,533,848.17 | -60,040,175.00 | 257,019,600.00 | ||
| Changesinfairvalueofcorporatecreditrisk | ||||||||
| II.Othercomprehensiveincomethatmaysubsequentlybereclassifiedtoprofitorloss | ||||||||
| Ofwhich:Shareofothercomprehensiveincomeofinvesteesthatwillbereclassifiedtoprofitorlossunderequitymethod | ||||||||
| Changesinfairvalueofinvestmentinotherdebtobligations | ||||||||
| Amountoffinancialassetsreclassifiedtoothercomprehensiveincome | ||||||||
| Creditdepreciationreservesofinvestmentinotherdebtobligations | ||||||||
| Reservesforcashflowhedges | ||||||||
| Differencesarisingfromtranslationofforeigncurrency-denominatedfinancialstatements | ||||||||
| Totalofothercomprehensiveincome | 317,059,775.00 | -70,225,654.50 | 348,368.67 | -10,533,848.17 | -60,040,175.00 | 257,019,600.00 |
31.SpecificReserve
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance |
| Safetyproductioncost | 17,560,202.07 | 1,883,145.87 | 1,004,697.43 | 18,438,650.51 |
| Total | 17,560,202.07 | 1,883,145.87 | 1,004,697.43 | 18,438,650.51 |
32.SurplusReserves
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance |
| Statutorysurplusreserves | 309,071,675.82 | 309,071,675.82 | ||
| Discretionalsurplusreserves | 13,156,857.90 | 13,156,857.90 | ||
| Total | 322,228,533.72 | 322,228,533.72 |
33.RetainedEarnings
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Beginningbalanceofretainedearningsbeforeadjustments | 726,689,929.10 | 717,883,351.33 |
| Totalretainedearningsatthebeginningoftheadjustmentperiod(“+”meansup,“-”meansdown) | 1,651,336.26 | 1,619,864.82 |
| Beginningbalanceofretainedearningsafteradjustments | 728,341,265.36 | 719,503,216.15 |
| Add:NetprofitattributabletoownersoftheCompanyastheparent | 27,690,311.06 | 24,966,526.85 |
| Less:Withdrawalofstatutorysurplusreserves | 2,094,119.49 | |
| Withdrawalofdiscretionalsurplusreserves | ||
| Withdrawalofgeneralreserve | ||
| Dividendofordinarysharespayable | 14,034,358.15 |
| Dividendsofordinarysharestransferredassharecapital | ||
| RecordedinothercomprehensiveincomeinpriorperiodandtransferredinretainedprofitsintheCurrentPeriod | 348,368.67 | |
| Endingretainedearnings | 756,379,945.09 | 728,341,265.36 |
Theretainedearningsatthebeginningoftheadjustmentperiodduetotheaccountingerrorscorrectioninpreviousperiod:RMB1,651,336.26attheperiod-beginningof2020,andRMB1,619,864.82attheperiod-beginningof2019.
34.OperatingRevenueandCostofSales
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear | ||
| Operatingrevenue | Costofsales | Operatingrevenue | Costofsales | |
| Mainoperations | 1,149,231,063.13 | 974,846,243.01 | 1,099,044,681.77 | 958,911,511.17 |
| Otheroperations | 18,224,719.17 | 10,996,475.67 | 19,826,443.23 | 14,073,262.37 |
| Total | 1,167,455,782.30 | 985,842,718.68 | 1,118,871,125.00 | 972,984,773.54 |
Informationrelatedtoperformanceobligations:performingaccordingtothecontractofferInformationrelatedtotransactionvalueassignedtoresidualperformanceobligations:
TheamountofrevenuecorrespondingtoperformanceobligationsofcontractssignedbutnotperformedornotfullyperformedyetwasRMB0attheperiod-end.
35.TaxesandSurtaxes
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Urbanmaintenanceandconstructiontax | 1,188,616.29 | 581,717.24 |
| Educationsurcharge | 849,011.61 | 271,520.11 |
| Propertytax | 2,212,278.84 | 1,986,524.35 |
| Landusetax | 1,804,439.63 | 1,713,504.95 |
| Vehicleandvesselusetax | 300.00 | |
| Stampduty | 394,779.95 | 456,518.80 |
| Environmenttax | 60,179.21 | |
| Other | 42,000.00 | -92.50 |
| Total | 6,551,605.53 | 5,009,692.95 |
36.SellingExpense
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Officeexpenses | 4,629,025.89 | 2,915,326.32 |
| Employeebenefits | 13,886,073.89 | 12,563,212.25 |
| Salespromotionalexpense | 5,545,750.00 | 3,165,350.00 |
| Threeguarantees | 27,893,180.55 | 31,616,012.47 |
| Transportcharge | 3,641,245.55 | 1,767,281.30 |
| Other | 7,797,082.64 | 6,231,216.64 |
| Total | 63,392,358.52 | 58,258,398.98 |
37.AdministrativeExpense
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Officeexpenses | 6,035,491.45 | 6,839,822.78 |
| Employeebenefits | 17,294,526.56 | 11,909,173.93 |
| Depreciationandamortization | 5,263,681.34 | 7,665,203.65 |
| Transportfees | 1,073,680.39 | 1,205,423.26 |
| Repaircharge | 138,950.52 | 992,564.62 |
| Safetyexpenses | 1,883,145.87 | 1,005,623.68 |
| Other | 3,919,554.61 | 4,942,250.38 |
| Total | 35,609,030.74 | 34,560,062.30 |
38.DevelopmentCosts
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Directinputexpense | 19,721,929.05 | 19,912,601.44 |
| Employeebenefits | 9,551,798.98 | 8,459,434.34 |
| Depreciationandamortization | 2,063,723.78 | 1,367,141.44 |
| Entrusteddevelopmentcharges | 32,231.13 | |
| Other | 968,567.84 | 325,106.24 |
| Total | 32,338,250.78 | 30,064,283.46 |
39.FinanceCosts
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Interestexpense | 3,340,575.91 | 1,567,625.50 |
| Interestincome | 2,792,152.75 | 1,647,206.24 |
| Netforeignexchangegainsorlosses | -1,097,813.30 | -1,047,246.55 |
| Other | -170,269.84 | -657,598.04 |
| Total | -719,659.98 | -1,784,425.33 |
40.OtherIncome
Unit:RMB
| Sources | ReportingPeriod | Sameperiodoflastyear |
| Governmentgrants | 2,657,218.07 | 134,037.71 |
| Other(Additionaldeductionofinputtax) | 20,746.75 |
41.InvestmentIncome
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Long-termequityinvestmentincomeaccountedbyequitymethod | ||
| Investmentincomefromdisposaloflong-termequityinvestment | ||
| Investmentincomefromholdingoftradingfinancialassets | ||
| Investmentincomefromdisposaloftradingfinancialassets | ||
| Dividendincomefromholdingofotherequityinstrumentinvestment | 4,983,988.73 | |
| Investmentincomefromholdingofheld-to–maturityinvestment |
| Investmentincomefromholdingofavailable-for-salefinancialassets | ||
| Investmentincomefromdisposalofavailable-for-salefinancialassets | ||
| Investmentincomefromdisposalofheld-to–maturityinvestment | ||
| Incomefromre-measurementofresidualstockrightsatfairvalueafterlosingcontrolpower | ||
| Interestincomefromholdingofinvestmentindebtobligations | ||
| Interestincomefromholdingofinvestmentinotherdebtobligations | ||
| Investmentincomefromdisposalofinvestmentinotherdebtobligations | ||
| Investmentincomefromholdingofothernon-currentfinancialassets | 149,121.58 | |
| Investmentincomefromdisposaloffinancialproductsofsecuritiescompany | 251,486.73 | 184,349.63 |
| Total | 5,384,597.04 | 184,349.63 |
42.CreditImpairmentLoss
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Baddebtlossofotherreceivables | 622,346.72 | 4,859.68 |
| Baddebtlossofaccountsreceivable | -6,601,368.01 | -9,257,470.42 |
| Impairmentlossofentrustedloan | 4,000,000.00 | |
| Total | -5,979,021.29 | -5,252,610.74 |
43.AssetImpairmentLoss
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| I.Baddebtloss |
| II.Lossoninventoryvaluationandcontractperformancecost | -16,343,805.00 | -26,096.43 |
| III.Impairmentlossonlong-termequityinvestment | ||
| IV.Impairmentlossoninvestmentproperty | ||
| V.Impairmentlossonfixedassets | ||
| VI.Impairmentlossonengineeringmaterials | ||
| VII.Impairmentlossonconstructioninprogress | ||
| VIII.Impairmentlossonproductivelivingassets | ||
| IX.Impairmentlossonoilandgasassets | ||
| X.Impairmentlossonintangibleassets | ||
| XI.Impairmentlossongoodwill | ||
| XII.Other | ||
| Total | -16,343,805.00 | -26,096.43 |
44.AssetDisposalIncome
Unit:RMB
| Sources | ReportingPeriod | Sameperiodoflastyear |
| Disposalincomeoffixedassets | 10,977.61 | 988,535.95 |
45.Non-operatingIncome
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear | Amountrecordedinthecurrentnon-recurringprofitorloss |
| Incomefrompenalty | 181,076.00 | 181,076.00 | |
| Incomegeneratedfromdisposalofcurrentassets | 324,516.28 | ||
| Other | 287,214.78 | 258,421.20 | 287,214.78 |
| Total | 468,290.78 | 582,937.48 | 468,290.78 |
46.Non-operatingExpense
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear | Amountrecordedinthecurrentnon-recurringprofitorloss |
| Retirementlossofnon-currentassets | 1,725.58 | 215,077.98 | 1,725.58 |
| Other | 393,650.10 | 2,760.00 | 393,650.10 |
| Total | 395,375.68 | 217,837.98 | 395,375.68 |
47.IncomeTaxExpense
(1)ListofIncomeTaxExpense
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Currentincometaxexpense | 3,442,263.52 | -2,995,296.80 |
| Deferredincometaxexpense | -1,044,951.94 | 301.48 |
| Total | 2,397,311.58 | -2,994,995.32 |
(2)AdjustmentProcessofAccountingProfitandIncomeTaxExpense
Unit:RMB
| Item | ReportingPeriod |
| Profitbeforetaxation | 30,265,106.31 |
| Currentincometaxexpenseaccountedatstatutory/applicabletaxrate | 4,539,765.95 |
| Influenceofapplyingdifferenttaxratesbysubsidiaries | 708,102.34 |
| Influenceofincometaxbeforeadjustment | -717,080.73 |
| Influenceofnon-taxableincome | |
| Influenceofnon-deductablecosts,expensesandlosses | -1,249,574.37 |
| InfluenceofdeductablelossesofunrecognizeddeferredincometaxatthebeginningoftheReportingPeriod | -27,842.32 |
| InfluenceofdeductabletemporarydifferenceordeductablelossesofunrecognizeddeferredincometaxassetsintheReportingPeriod | -729,438.12 |
| Taxpreferencegeneratedfromeligibleexpense | -126,621.17 |
| Incometaxexpense | 2,397,311.58 |
48.CashFlowStatement
(1)CashGeneratedfromOtherOperatingActivities
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Subsidyandappropriation | 2,125,031.26 | 129,300.00 |
| Otherintercoursesincash | 2,450,124.78 | 6,626,337.57 |
| Interestincome | 2,792,152.75 | 1,647,206.24 |
| Other | 377,095.40 | |
| Total | 7,744,404.19 | 8,402,843.81 |
(2)CashUsedinOtherOperatingActivities
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Sellingexpensepaidincash | 42,790,201.08 | 22,265,032.54 |
| Administrativeexpensepaidincash | 28,635,717.97 | 15,932,156.09 |
| Handlingcharges | 850,745.30 | 276,917.44 |
| Other | 841,135.29 | 363,243.80 |
| Total | 73,117,799.64 | 38,837,349.87 |
(3)CashGeneratedfromOtherInvestingActivities
| Item | ReportingPeriod | Sameperiodoflastyear |
| Performancebond | 97,150.00 | |
| Total | 97,150.00 |
(4)CashUsedinOtherInvestingActivities
| Item | ReportingPeriod | Sameperiodoflastyear |
| Productmargin | 930,300.00 | |
| Total | 930,300.00 |
49.SupplementalInformationforCashFlowStatement
(1)SupplementalInformationforCashFlowStatement
Unit:RMB
| Supplementalinformation | ReportingPeriod | Sameperiodoflastyear |
| 1.Reconciliationofnetprofittonetcashflowsgeneratedfromoperatingactivities | -- | -- |
| Netprofit | 27,867,794.73 | 19,166,650.04 |
| Add:Provisionforimpairmentofassets | 22,322,826.29 | 5,278,707.17 |
| Depreciationoffixedassets,ofoilandgasassets,ofproductivelivingassets | 39,921,116.37 | 45,097,580.24 |
| Depreciationofright-of-useassets | ||
| Amortizationofintangibleassets | 2,325,255.12 | 2,667,349.89 |
| Amortizationoflong-termdeferredexpenses | 19,902.30 | 19,902.30 |
| Lossesondisposaloffixedassets,intangibleassetsandotherlong-termassets(gainsby“-”) | -10,977.61 | -988,535.95 |
| Lossesonthescrappingoffixedassets(gainsby“-”) | 1,725.58 | |
| Lossesonthechangesinfairvalue(gainsby“-”) | ||
| Financialexpenses(gainsby“-”) | 3,702,027.93 | -1,780,811.62 |
| Investmentlosses(gainsby“-”) | -5,384,597.04 | -5,275.78 |
| Decreaseindeferredincometaxassets(increaseby“-”) | -956,111.39 | 301.48 |
| Increaseindeferredincometaxliabilities(decreaseby“-”) | -88,840.55 | |
| Decreaseininventory(increaseby“-”) | 28,810,293.38 | 77,790,426.75 |
| Decreaseinaccountsreceivablefromoperatingactivities(increaseby“-”) | -219,167,832.28 | -399,676,635.32 |
| Increaseinpayablesfromoperatingactivities(decreaseby“-”) | 93,944,576.05 | 102,084,867.92 |
| Other | -13,661,888.13 | -2,976,019.99 |
| Netcashflowsgeneratedfromoperatingactivities | -20,354,729.25 | -153,321,492.87 |
| 2.Investingandfinancingactivitiesthatdonotinvolvingcashreceiptsandpayment: | -- | -- |
| Debttransferredascapital | ||
| Convertiblecorporatebondduewithinoneyear |
| Fixedassetsfromfinancinglease | ||
| 3.Netincreaseincashandcashequivalents | -- | -- |
| Endingbalanceofcash | 493,637,357.80 | 495,700,572.93 |
| Less:Beginningbalanceofcash | 545,959,998.20 | 691,266,373.34 |
| Add:Endingbalanceofcashequivalents | ||
| Less:Beginningbalanceofcashequivalents | ||
| Netincreaseincashandcashequivalents | -52,322,640.40 | -195,565,800.41 |
(2)CashandCashEquivalents
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| I.Cash | 493,637,357.80 | 545,959,998.20 |
| Including:Cashonhand | 348,885.71 | 181,115.21 |
| Bankdepositondemand | 489,583,551.02 | 545,271,159.5 |
| Othermonetaryassetsondemand | 3,704,921.07 | 507,723.49 |
| Accountsdepositedinthecentralbankavailableforpayment | ||
| Depositsinotherbanks | ||
| Accountsofinterbank | ||
| II.Cashequivalents | ||
| Ofwhich:Bondinvestmentexpiredwithinthreemonths | ||
| III.Endingbalanceofcashandcashequivalents | 493,637,357.80 | 545,959,998.20 |
| Ofwhich:CashandcashequivalentswithrestrictioninusefortheCompanyastheparentorsubsidiariesoftheGroup |
50.AssetswithRestrictedOwnershiporRighttoUse
Unit:RMB
| Item | Endingcarryingvalue | Reasonforrestriction |
| Monetaryassets | 106,637,411.65 | Ascashdepositforbankacceptancebillandenvironment |
| Housesandbuildings | 9,933,008.28 | Mortgagedforborrowingsfrombanks |
| Landuseright | 989,620.82 | Mortgagedforborrowingsfrombanks |
| Machineryequipment | 38,139,602.80 | Mortgagedforborrowingsfrombanks |
| Total | 155,699,643.55 | -- |
51.ForeignCurrencyMonetaryItems
(1)ForeignCurrencyMonetaryItems
Unit:RMB
| Item | Endingforeigncurrencybalance | Exchangerate | EndingbalanceconvertedtoRMB |
| Monetaryassets | -- | -- | 88,036,406.31 |
| Ofwhich:USD | 12,318,549.63 | 7.0795 | 87,209,172.11 |
| EUR | |||
| HKD | 285,400.46 | 0.9134 | 260,684.78 |
| SGD | 54,427.95 | 5.0813 | 276,564.74 |
| JPY | 4,407,062.00 | 0.0658 | 289,984.68 |
| Accountsreceivable | -- | -- | 56,189,918.16 |
| Ofwhich:USD | 7,936,989.64 | 7.0795 | 56,189,918.16 |
| Accountspayable | 2,142.26 | ||
| Ofwhich:USD | 302.60 | 7.0795 | 2,142.26 |
(2)NotestoOverseasEntitiesIncluding:forSignificantOverseaEntities,MainOperatingPlace,RecordingCurrencyandSelectionBasisShallBeDisclosed;ifthereAreChangesinRecordingCurrency,RelevantReasonsShallBeDisclosed.
□Applicable√Notapplicable
52.GovernmentGrants
(1)BasicInformationonGovernmentGrants
Unit:RMB
| Category | Amount | Listeditems | Amountrecordedinthecurrentprofitorloss |
| Subsidyforstabilizingposts | 1,462,592.43 | Otherincome | 1,462,592.43 |
| Patentrewards | 100,000.00 | Otherincome | 100,000.00 |
| Thefirst-yearfundfordistrict-leveldemonstrationbasefortraininghigh-levelskilledpersonnelin2019 | 20,000.00 | Otherincome | 20,000.00 |
| High-skilledpersonneltrainingaward | 15,000.00 | Otherincome | 15,000.00 |
| Taxaward | 50,000.00 | Otherincome | 50,000.00 |
| Individualincometaxcommission | 8,587.83 | Otherincome | 8,587.83 |
| Specialfundforbusinessdevelopment | 10,600.00 | Otherincome | 10,600.00 |
| Innovation-drivenrewards | 6,000.00 | Otherincome | 6,000.00 |
| Fundsofdevelopmentofinternationalmarketproject | 14,200.00 | Otherincome | 14,200.00 |
| SubsidyfundofNewDistrictFinanceBureauaward | 7,882.00 | Otherincome | 7,882.00 |
| Provincial-levelspecialfundforindustrialandinformationindustrytransformationandupgrading | 150,000.00 | Otherincome | 150,000.00 |
| Specialawardandsubsidyfundsusedtostabilizeemployment | 230,169.00 | Otherincome | 230,169.00 |
| Relocationcompensation | 332,986.81 | Otherincome | 332,986.81 |
| R&Dandindustrializationofoff-roaddieselenginecontrolledbyelectricity | 199,200.00 | Otherincome | 199,200.00 |
| Talentspecialfund | 50,000.00 | Otherincome | 50,000.00 |
| Additionaldeductionofinputtax | 20,746.75 | Otherincome | 20,746.75 |
| Appropriationofoff-roaddieselenginecontrolledbyelectricity | 49,200.00 | Deferredincome | |
| Nationalmajorspecialappropriation | 28,770,000.00 | Deferredincome | |
| Relocationcompensation | 19,512,724.41 | Deferredincome | |
| AppropriationorresearchanddevelopmentandindustrializationallocationsofnationalIII/IVstandardhigh-poweredefficientdieselengineforagriculturaluse | 10,000,000.00 | Deferredincome |
ReturnofGovernmentGrants
□Applicable√Notapplicable
VIII.ChangesofConsolidationScope
None
IX.EquityinOtherEntities
1.EquityinSubsidiary
(1)Subsidiaries
| Name | Mainoperatingplace | Registrationplace | Natureofbusiness | Holdingpercentage(%) | Wayofgaining | |
| Directly | Indirectly | |||||
| ChangchaiWanzhouDieselEngineCo.,Ltd. | Chongqing | Chongqing | Industry | 60.00% | Set-up | |
| ChangzhouChangchaiBenniuDieselEngineFittingsCo.,Ltd. | Changzhou | Changzhou | Industry | 99.00% | 1.00% | Set-up |
| ChangzhouHoushengInvestmentCo.,Ltd. | Changzhou | Changzhou | Service | 100.00% | Set-up | |
| ChangzhouChangchaiHoushengAgriculturalEquipmentCo.,Ltd. | Changzhou | Changzhou | Industry | 70.00% | 25.00% | Set-up |
| ChangzhouFujiChangchaiRobinGasolineEngineCo.,Ltd. | Changzhou | Changzhou | Industry | 100.00% | Combinationnotunderthesamecontrol | |
| JiangsuChangchaiMachineryCo.,Ltd. | Changzhou | Changzhou | Industry | 100.00% | Set-up | |
| ChangzhouXingshengPropertyManagementCo.,Ltd. | Changzhou | Changzhou | Service | 100.00% | Set-up | |
(2)SignificantNon-wholly-ownedSubsidiary
Unit:RMB
| Name | Shareholdingproportionofnon-controllinginterests | Theprofitorlossattributabletothenon-controllinginterests | Declaringdividendsdistributedtonon-controllinginterests | Balanceofnon-controllinginterestsattheperiod-end |
| ChangchaiWanzhouDieselEngineCo.,Ltd. | 40.00% | 187,651.15 | 19,801,599.87 |
| ChangzhouChangchaiHoushengAgriculturalEquipmentCo.,Ltd. | 5.00% | -10,167.48 | 12,164.81 |
Holdingproportionofnon-controllinginterestsinsubsidiarydifferentfromvotingproportion:Notapplicable
(3)TheMainFinancialInformationofSignificantNotWholly-ownedSubsidiary
Unit:RMB
| Name | Endingbalance | Beginningbalance | ||||||||||
| Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliability | Totalliabilities | Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliability | Totalliabilities | |
| ChangchaiWanzhouDieselEngineCo.,Ltd. | 50,396,468.90 | 25,368,758.87 | 75,765,227.77 | 26,261,228.09 | 26,261,228.09 | 43,807,991.71 | 25,821,314.00 | 69,629,305.71 | 20,594,433.90 | 20,594,433.90 | ||
| ChangzhouChangchaiHoushengAgriculturalEquipmentCo.,Ltd. | 28,971,588.41 | 464,382.91 | 29,435,971.32 | 29,192,675.01 | 29,192,675.01 | 28,573,892.12 | 514,669.94 | 29,088,562.06 | 28,641,916.23 | 28,641,916.23 | ||
Unit:RMB
| Name | ReportingPeriod | Sameperiodoflastyear | ||||||
| Operatingrevenue | Netprofit | Totalcomprehensiveincome | Cashflowsfromoperatingactivities | Operatingrevenue | Netprofit | Totalcomprehensiveincome | Cashflowsfromoperatingactivities | |
| ChangchaiWanzhouDieselEngineCo.,Ltd. | 24,477,850.44 | 469,127.87 | 469,127.87 | 1,744,069.06 | 23,600,857.49 | 257,014.16 | 257,014.16 | -862,600.33 |
| ChangzhouChangchaiHoushengAgriculturalEquipmentCo.,Ltd. | 9,272,539.79 | -203,349.52 | -203,349.52 | -784,927.87 | 6,815,423.91 | -570,014.57 | -570,014.57 | -1,101,489.23 |
2.EquityintheStructuredEntityExcludedintheScopeofConsolidatedFinancialStatementsNotestothestructuredentityexcludedinthescopeofconsolidatedfinancialstatements:
In2017,theCompanysetupChangzhouXietongPrivateEquityFund(LimitedPartnership)togetherwithSynergeticInnovationFundManagementCo.,Ltd.throughjointinvestment.On18October2018,newpartnerswereadded.InlinewiththerevisedPartnershipAgreement,thegeneralpartnerisSynergeticInnovationFundManagementCo.,Ltd.,andthelimitedpartnersareChangchaiCompany,Limited,ChangzhouZhongyouPetroleumSalesCo.,Ltd.,ChangzhouFuelCo.,Ltd.,TongYinzhuandTongYinxin.InaccordancewiththePartnershipAgreement,thelimitedpartnerdoesnotexecutethepartnershipaffairs.Thus,theCompanydoesnotcontrolChangzhouXietongPrivateEquityFund(LimitedPartnership)anddidnotincludeitintothescopeofconsolidatedfinancialstatements.X.TheRiskRelatedtoFinancialInstrumentsThegoaloftheCompany’sriskmanagementwasgainingthebalancebetweentheriskandincome,and
reducedthenegativeimpacttotheoperationperformanceoftheCompanyinthelowestlevelandmaximizedtheinterestsofshareholdersandotherequityinvestors.Baseontheriskmanagementgoal,thebasisstrategyoftheCompany’sriskmanagementwastorecognizedandanalyzeallkindsofriskthattheCompanyfaced,setupsuitableriskbottomlineandconductriskmanagement,andsupervisedtheriskstimelyandreliablyandcontroltheriskwithinthelimitedscope.ThemainrisksoftheCompanyduetofinancialinstrumentswerecreditrisk,liquidityriskandmarketrisk.Themanagementlevelhadreviewedandapprovedthepoliciestomanagetherisks,whichsummarizedasfollows:
(I)CreditRiskCreditriskwasonepartyofthecontractfailedtofulfilltheobligationsandcauseslossoffinancialassetsoftheotherparty.ThecreditofriskoftheCompanymainlywasrelatedtoaccountreceivable,inordertocontroltherisk,theCompanyconductthefollowingmethods.TheCompanyonlyconductsrelatedtransactionwithapprovedandreputablethirdparty,inlinewiththepolicyoftheCompany,theCompanyneedtoconductcredit-checkfortheclientsadoptingwayofcredittoconducttransaction.Inaddition,theCompanycontinuouslymonitorsthebalanceofaccountreceivabletoensuretheCompanywouldnotfacethesignificantbaddebtrisk.(II)LiquidityRiskLiquidityriskisreferredtotheriskofincurringcapitalshortagewhenperformingsettlementobligationinthewayofcashpaymentorotherfinancialassets.ThepoliciesoftheCompanyaretoensurethattherewassufficientcashtopaythedueliabilities.TheliquidityriskwascentralizedcontrolledbythefinancialdepartmentoftheCompany.Thefinancialdepartmentsthroughsupervisingthebalanceofthecashandsecuritiescanbeconverttocashatanytimeandtherollingpredictionofcashflowinfuture12monthstoensuretheCompanyhassufficientcashtopaytheliabilitiesunderthecaseofallreasonableprediction.(III)MarketRiskMarketriskisrefertoriskofthefairvalueorfuturecashflowoffinancialinstrumentchangedduetothechangeofmarketprice,includingforeignexchangeraterisk,interestraterisk.
1.InterestRateRiskInterestrateriskisreferstofluctuationriskofthefairvalueorfuturecashflowoffinancialinstrumentchangeduetothechangeofmarketprice.
2.ForeignExchangeRiskForeignexchangerateriskisreferredtotheriskincurredformthechangeofexchangerate.AsfortheCompany’sexportbusiness,customerswillbegivenacertaincreditterm,iftheRMBappreciatesagainstthedollar,thecompany'saccountsreceivablewillincurforeigncurrencyexchangeloss.XI.TheDisclosureofFairValue
1.EndingFairValueofAssetsandLiabilitiesatFairValue
Unit:RMB
| Item | Endingfairvalue | |||
| Fairvaluemeasurementitemsatlevel1 | Fairvaluemeasurementitemsatlevel2 | Fairvaluemeasurementitemsatlevel3 | Total | |
| I.Consistentfairvaluemeasurement | -- | -- | -- | -- |
| (I)Financialassetsatfairvaluethroughprofitorloss | 362,160,000.00 | 192,552,101.63 | 554,712,101.63 | |
| 1.Tradingfinancialassets | 92,552,101.63 | 92,552,101.63 | ||
| (1)Debtinstrumentinvestment | 14,600,000.00 | 14,600,000.00 | ||
| (2)Equityinstrumentinvestment | 77,952,101.63 | 77,952,101.63 | ||
| (3)Derivativefinancialassets | ||||
| 2.Financialassetsdesignatedtobemeasuredatfairvalueandthechangesincludedintothecurrentprofitorloss | ||||
| (1)Debtinstrumentinvestment | ||||
| (2)Equityinstrumentinvestment | ||||
| (II)Otherbondinvestment | ||||
| (III)Otherequityinstrumentinvestment | 362,160,000.00 | 100,000,000.00 | 462,160,000.00 | |
| (2)Equityinstrumentinvestment | ||||
| (IV)Investmentproperty | ||||
| 1.Landuserightforlease | ||||
| 2.Buildingsleasedout | ||||
| 3.Landuserightheldandplannedtobetransferredonceappreciating | ||||
| (V)Livingassets | ||||
| 1.Consumptivelivingassets | ||||
| 2.Productivelivingassets | ||||
| Totalassetsconsistentlymeasuredbyfairvalue | 362,160,000.00 | 192,552,101.63 | 554,712,101.63 | |
| (VI)Tradingfinancialliabilities | ||||
| Ofwhich:Issuedtradingbonds | ||||
| Derivativefinancialliabilities | ||||
| Other | ||||
| (VII)Financialliabilitiesdesignatedtobemeasuredatfairvalueandthechangesrecordedintothecurrentprofitorloss | ||||
| Totalliabilitiesconsistentlymeasuredbyfairvalue | ||||
| II.Inconsistentfairvaluemeasurement | -- | -- | -- | -- |
| (1)Assetsheldforsale | ||||
| Totalassetsinconsistentlymeasuredbyfairvalue | ||||
| Totalliabilitiesinconsistentlymeasuredbyfairvalue |
2.MarketPriceRecognitionBasisforConsistentandInconsistentFairValueMeasurementItemsatLevel1Theavailable-for-salefinancialassetsmeasuredatfairvalueoftheCompanywereshareswiththeclosingpriceasthebasisoffairvaluecalculationatperiod-end.
3.ValuationTechniqueAdoptedandNatureandAmountDeterminationofImportantParametersforConsistentandInconsistentFairValueMeasurementItemsatLevel3
(1)IntermsoftradingfinancialassetsheldbytheCompany,astheunderlyingassetsthroughfinancialproductsinvestmentincludecash,bondrepurchase,bankdeposit,interbankloan,nationalbankandcentralbankbill,etc.,theassetsportfolioinvestedwereexecuteddynamicmanagement,whilethefairvalueoffinancialproductsisdifficulttomeasure,sothefairvalueshallberecognizedbyadoptingcostamount.
(2)Intermsofnon-tradingfinancialassets,withregardtotheequityinstrumentinvestmentwithoutactivemarkettransactions,includingthecapitalinvestmenttoJiangsuHoushengNewEnergyTechnologyCo.,Ltd.,JiangsuLianceElectromechanicalTechnologyCo.,Ltd.andKailongHighTechnologyCo.,Ltd.,andnosignificantimpactduetothelowequityoftheinvestedcompaniesheldbytheCompany,sotheappraisementtotheinvestedcompaniesbyincomeormarketapproachwasunfeasible.Therefore,theinvestmentcostshallbetreatedasreasonableestimationoffairvaluetomeasureattheperiod-end.IntermsofsharesofNEEQunlistedpubliccompaniesheldbytheCompany,asfortheequityinstrumentinvestmentwithinactivemarkettransactions,duetothemarketvalueofsharescannotbereflectedbythe
markettransactionpricewiththelowvolumeofholding,sotheappraisementtotheinvestedcompaniesbyincomeormarketapproachwasunfeasible.Therefore,theinvestmentcostshallbetreatedasreasonableestimationoffairvaluetomeasureattheperiod-end.
(3)Intermsofotherequityinstrumentinvestment,therewasnosignificantchangesinbusinessenvironmentandcircumstanceandfinancialconditionofChangzhouSynergeticInnovationPrivateEquityFund(LimitedPartnership),andthustheinvestmentcostshallbetreatedasreasonableestimationoffairvaluetomeasureattheperiod-end.Asforotherequityinstrument,theinvestmentinChengduChangwanDieselEngineDistributionCo.,Ltd.,ChongqingChangwanDieselEngineAccessoriesCo.,Ltd.,ChangzhouEconomicandTechnologicalDevelopmentCo.,Ltd.,ChangzhouTractorCo.,Ltd.,ChangzhouEconomicandIndustrialFundMutual-aidAssociation,BeijingEngineeringMachineryAgriculturalMachineryCo.,Ltd.totalsRMB1,210,000.00,andbecausetheinvestmentisdifficulttorecover,thefairvalueisRMB0.00.XII.RelatedPartyandRelated-partyTransactions
1.InformationRelatedtotheCompanyastheParentoftheCompany
| Name | Registrationplace | Natureofbusiness | Registeredcapital | ProportionofshareheldbytheCompanyastheparentagainsttheCompany | ProportionofvotingrightsownedbytheCompanyastheparentagainsttheCompany |
| ChangzhouInvestmentGroupCo.,Ltd. | Changzhou | Investmentandoperationsofstate-ownedassets,assetsmanagement(excludingfinancialbusiness),investmentconsulting(excludingconsultingoninvestmentinsecuritiesandoptions),etc. | RMB1.2billion | 30.43% | 30.43% |
Notes:InformationontheCompanyastheparentOn22November2018,ChangzhouGovernmentState-ownedAssetsSupervisionandAdministrationCommissiontransferredall170,845,236sharesoftheCompany(accountingfor30.43%ofthetotalshare
capitaloftheCompany)toChangzhouInvestmentGroupCo.,Ltd.forfree.InaccordancewithChangzhouPeople’sGovernmentDocument(CZF[2006]No.62),boththeCompanyandChangzhouInvestmentGroupCo.,Ltd.areenterpriseswhichChangzhouPeople’sGovernmentauthorizesChangzhouGovernmentState-ownedAssetsSupervisionandAdministrationCommissiontoperformdutiesofinvestors.Thus,afterthesharertransfer,ChangzhouInvestmentGroupCo.,Ltd.isthecontrollingshareholderoftheCompanyandChangzhouGovernmentState-ownedAssetsSupervisionandAdministrationCommissionisstilltheactualcontrolleroftheCompany.ThefinalcontrolleroftheCompanyisChangzhouGovernmentState-ownedAssetsSupervisionandAdministrationCommission.
2.SubsidiariesoftheCompanyRefertoNoteIXfordetails.
3.InformationonOtherRelatedParties
| Name | RelationshipwiththeCompany |
| SynergeticInnovationFundManagementCo.,Ltd. | ThedirectoroftheCompanyservesastheseniormanagementofthecompany |
| ChangzhouSynergeticInnovationPrivateEquityFund(LimitedPartnership) | Participatedinestablishingtheindustrialinvestmentfund |
| JiangsuHoushengNewEnergyTechnologyCo.,Ltd. | ShareholdingenterpriseoftheCompany |
| DonghaiSecuritiesCo.,Ltd. | ControlledbythesameCompanyastheparent |
4.Related-partyTransactions
(1)OtherRelated-partyTransactionOn28June2020,the3
rdMeetingofthe9
thBoardofDirectorsapprovedtheProposalonSignatureofJointSponsorshipUnderwritingAgreementofthePrivatePlacementofAsharesandRelated-partyTransaction,whichallowedtheCompanysigningthejointsponsorshipunderwritingagreementwithIndustrialSecuritiesCo.,Ltd.(hereinafterreferredtoas“IndustrialSecurities”)andDonghaiSecuritiesCo.,Ltd.(hereinafterreferredtoas“DonghaiSecurities”),andappointingIndustrialSecuritiesandDonghaiSecuritiesastheco-sponsorunderwritersfortheprivateplacementofAsharesoftheCompanywithsponsorfeeofRMB3milliontoIndustrialSecuritiesandDonghaiSecuritiesandtheunderwritingfeeofnomorethanRMB11million(inclusiveofRMB11million).
XIII.CommitmentsandContingency
1.SignificantCommitmentsSignificantcommitmentsonbalancesheetdateAsof30June2020,therewasnosignificantcommitmentfortheCompanytodisclose.
2.Contingency
(1)SignificantContingencyonBalanceSheetDatePreviouslitigationscontinuingtotheReportingPeriodtheCompanyinvolved:
| Nameofdefendant | Dateofaccepted | Nameofthelitigationorarbitrationinstitutions | Amountinvolved(RMB’0,000) | Remark |
| ShandongHongliGroupCo.,Ltd. | 27June2001 | ChangzhouIntermediatePeople’sCourt | 1,436.00 | Underthebankruptcyandliquidation |
Notes:
AboutthelawsuitcaseofShandongHongliGroupCo.,Ltd.,theaccusedcompanyowedaccumulativelyRMB14.36milliontotheCompany.TheCompanysuedtoChangzhouIntermediatePeople’sCourtin2001andsuedforcompulsoryexecutioninApril2002.Currently,thedefendanthasstartedthebankruptcyprocedure.Theaforesaidpaymenthasarrangedforthefullprovisionforbaddebts.XIV.EventsafterBalanceSheetDate
1.ProfitDistribution
Unit:RMB
| Profitsordividendstobedistributed | 0 |
2.NotestoOtherEventsafterBalanceSheetDate
Asoftheapprovalissuedateoffinancialstatements,therewasnosignificanteventafterbalancesheetdatethatshallbedisclosed.
XV.OtherSignificantEvents
1.CorrectionofPreviousAccountingError
(1)RetrospectiveRestatement
Unit:RMB
| Content | Processingprocedure | Affectedfinancialstatementlineitemsofthecomparativeperiods | Cumulativeeffects |
| ChangzhouXingshengPropertyManagementCo.,Ltd.thatwasnotincludedinthescopeofconsolidatedstatementsbeforehasbeenconductedaccountingtreatmentaccordingtotheprovisionsoftheaccountingstandardsduringtheReportingPeriod. | The4thMeetingofthe9thBoardofDirectorsheldon29July2020reviewedandapprovedtheProposalonAccountingErrorsCorrectioninPreviousPeriod. | ConsolidatedBalanceSheetin2019-Mnetaryassets | 1,375,254.03 |
| ConsolidatedBalanceSheetin2019-Tradingfinancialassets | 3,050,000.00 | ||
| ConsolidatedBalanceSheetin2019-Accountsreceivable | 6,391.36 | ||
| ConsolidatedBalanceSheetin2019-Prepayment | 38,200.00 | ||
| ConsolidatedBalanceSheetin2019-Otherreceivables | -893,682.24 | ||
| ConsolidatedBalanceSheetin2019-Inventories | 7,158.32 | ||
| ConsolidatedBalanceSheetin2019-Othercurrentassets | 67,355.14 | ||
| ConsolidatedBalanceSheetin2019-Totalofcurrentassets | 4,632,342.79 | ||
| ConsolidatedBalanceSheetin2019-Fixedassets | 140,153.19 | ||
| ConsolidatedBalanceSheetin2019-Long-termprepaidexpenses | 53,497.80 | ||
| ConsolidatedBalanceSheetin2019-Deferredincometaxassets | 6.52 | ||
| ConsolidatedBalanceSheetin2019-Totalofnon-currentassets | 193,657.51 | ||
| ConsolidatedBalanceSheetin2019-Totalassets | 4,826,000.30 | ||
| ConsolidatedBalanceSheetin2019-Accountspayable | 14,760.00 | ||
| ConsolidatedBalanceSheetin2019-Advancesfromcustomers | 952,386.57 | ||
| ConsolidatedBalanceSheetin2019-Otherpayables | 1,224,017.91 | ||
| ConsolidatedBalanceSheetin2019-Totalofcurrentliabilities | 2,191,164.48 |
| ConsolidatedBalanceSheetin2019-Totalliabilities | 2,191,164.48 |
| ConsolidatedBalanceSheetin2019-Surplusreserves | 163,483.58 |
| ConsolidatedBalanceSheetin2019-Retainedearnings | 1,471,352.24 |
| ConsolidatedBalanceSheetin2019-TotalequityattributabletoownersoftheCompanyastheparent | 2,634,835.82 |
| ConsolidatedBalanceSheetin2019-Totalowners’equity | 2,634,835.82 |
| ConsolidatedBalanceSheetin2019-Totalliabilitiesandowners’equity | 4,826,000.30 |
| ConsolidatedIncomeStatementin2019-Revenue | 5,687,083.80 |
| ConsolidatedIncomeStatementin2019-Operatingrevenue | 5,687,083.80 |
| ConsolidatedIncomeStatementin2019-Operatingcosts | 5,726,254.73 |
| ConsolidatedIncomeStatementin2019-Costofsales | 4,884,089.75 |
| ConsolidatedIncomeStatementin2019-Taxesandsurtaxes | 21,043.17 |
| ConsolidatedIncomeStatementin2019-Administrativeexpense | 832,824.01 |
| ConsolidatedIncomeStatementin2019-Financecosts | -11,702.20 |
| ConsolidatedIncomeStatementin2019-Interestincome | 13,193.10 |
| ConsolidatedIncomeStatementin2019-Otherincome | 12,063.29 |
| ConsolidatedIncomeStatementin2019-Investmentincome | 58,549.24 |
| ConsolidatedIncomeStatementin2019-Creditimpairmentloss | 7,317.61 |
| ConsolidatedIncomeStatementin2019-Operatingprofit | 38,759.21 |
| ConsolidatedIncomeStatementin2019-Non-operatingincome | 16,006.10 |
| ConsolidatedIncomeStatementin2019-Non-operatingexpense | 12,597.35 |
| ConsolidatedIncomeStatementin2019-Profitbeforetaxation | 42,167.96 |
| ConsolidatedIncomeStatementin2019-Incometax | 10,227.22 |
| ConsolidatedIncomeStatementin2019-Netprofit | 31,940.74 |
| ConsolidatedIncomeStatementin2019-Netprofitfromcontinuingoperations | 31,940.74 |
| ConsolidatedIncomeStatementin2019-NetprofitattributabletoownersoftheCompanyastheparent | 31,940.74 |
| ConsolidatedIncomeStatementin2019-Totalcomprehensiveincome | 31,940.74 |
| ConsolidatedIncomeStatementin2019-AttributabletoownersoftheCompanyastheparent | 31,940.74 |
| ConsolidatedIncomeStatementin2019-Earningspershare | 0.00005 |
| ConsolidatedIncomeStatementin2019-Dilutedearningspershare | 0.00005 |
| ConsolidatedCashFlowStatementin2019-Proceedsfromsaleofcommoditiesandrenderingofservices | 6,150,306.39 |
| ConsolidatedCashFlowStatementin2019-Cashgeneratedfromotheroperatingactivities | 110,627.50 |
| ConsolidatedCashFlowStatementin2019-Subtotalofcashusedinoperatingactivities | 6,260,933.89 |
| ConsolidatedCashFlowStatementin2019-Paymentsforcommoditiesandservices | 4,051,587.11 |
| ConsolidatedCashFlowStatementin2019-Cashpaidtoandforemployees | 1,415,158.29 |
| ConsolidatedCashFlowStatementin2019-Taxespaid | 223,381.96 |
| ConsolidatedCashFlowStatementin2019-Cashusedinotheroperatingactivities | 353,138.57 |
| ConsolidatedCashFlowStatementin2019-Subtotalofcashusedinoperatingactivities | 6,043,265.93 |
| ConsolidatedCashFlowStatementin2019-Net | 217,667.96 |
| cashgeneratedfrom/usedinoperatingactivities | |
| ConsolidatedCashFlowStatementin2019-Proceedsfromdisinvestments | 3,900,000.00 |
| ConsolidatedCashFlowStatementin2019-Investmentincome | 58,549.24 |
| ConsolidatedCashFlowStatementin2019-Subtotalofcashgeneratedfrominvestingactivities | 3,958,549.24 |
| ConsolidatedCashFlowStatementin2019-Paymentsforacquisitionoffixedassets,intangibleassetsandotherlong-livedassets | 37,696.92 |
| ConsolidatedCashFlowStatementin2019-Paymentsforinvestments | 6,950,000.00 |
| ConsolidatedCashFlowStatementin2019-Subtotalofcashusedininvestingactivities | 6,987,696.92 |
| ConsolidatedCashFlowStatementin2019-Netcashgeneratedfrom/usedininvestingactivities | -3,029,147.68 |
| ConsolidatedCashFlowStatementin2019-Cashandcashequivalents,endoftheperiod | -2,811,479.72 |
2.SegmentInformation
(1)DeterminationBasisandAccountingPoliciesofReportableSegmentDuetotheoperationscopeoftheCompanyandsubsidiariesweresimilar,theCompanyconductscommonmanagement,anddidnotdividebusinessunit,sotheCompanyonlymadesinglebranchreport.
3.OtherSignificantTransactionsandEventswithInfluenceonInvestors’Decision-makingNone
XVI.NotesofMainItemsintheFinancialStatementsoftheCompanyastheParent
1.AccountsReceivable
(1)AccountsReceivableClassifiedbyCategory
Unit:RMB
| Category | Endingbalance | Beginningbalance |
| Carryingamount | Baddebtprovision | Carryingvalue | Carryingamount | Baddebtprovision | Carryingvalue | |||||
| Amount | Proportion | Amount | Withdrawalproportion | Amount | Proportion | Amount | Withdrawalproportion | |||
| Accountsreceivableforwhichbaddebtprovisionseparatelyaccrued | 35,354,686.26 | 4.37% | 33,459,099.43 | 94.64% | 1,895,586.83 | 37,510,056.90 | 6.66% | 33,788,291.86 | 90.08% | 3,721,765.04 |
| Ofwhich: | ||||||||||
| Accountsreceivablewithsignificantsingleamountforwhichbaddebtprovisionseparatelyaccrued | 30,515,544.63 | 3.77% | 28,619,957.80 | 93.79% | 1,895,586.83 | 32,618,199.97 | 5.79% | 28,896,434.93 | 88.59% | 3,721,765.04 |
| Accountsreceivablewithinsignificantsingleamountforwhichbaddebtprovisionseparatelyaccrued | 4,839,141.63 | 0.60% | 4,839,141.63 | 100.00% | 4,891,856.93 | 0.87% | 4,891,856.93 | 100.00% | ||
| Accountsreceivableforwhichbaddebtprovisionaccruedbygroup | 773,193,382.27 | 95.63% | 130,445,851.87 | 16.87% | 642,747,530.40 | 525,874,423.56 | 93.34% | 192,148,650.56 | 36.54% | 333,725,773.00 |
| Ofwhich: | ||||||||||
| Accountsreceivableforwhichbaddebtprovisionaccruedbycreditriskfeaturesgroup | 773,193,382.27 | 95.63% | 130,445,851.87 | 16.87% | 642,747,530.40 | 525,874,423.56 | 93.34% | 192,148,650.56 | 36.54% | 333,725,773.00 |
| Total | 808,548,068.53 | 100.00% | 163,904,951.30 | 20.27% | 644,643,117.23 | 563,384,480.46 | 100.00% | 225,936,942.42 | 40.10% | 337,447,538.04 |
Accountsreceivablewithsignificantsingleamountforwhichbaddebtprovisionseparatelyaccruedattheendoftheperiod:
Unit:RMB
| Name | Endingbalance | |||
| Carryingamount | Baddebtprovision | Withdrawalproportion | Withdrawalreason | |
| Customer1 | 1,470,110.64 | 1,470,110.64 | 100.00% | Expectedtodifficultlyrecover |
| Customer2 | 1,902,326.58 | 1,902,326.58 | 100.00% | Difficulttorecover |
| Customer3 | 6,215,662.64 | 6,215,662.64 | 100.00% | Difficulttorecover |
| Customer4 | 2,254,860.60 | 2,175,814.38 | 96.49% | Expectedtodifficultlyrecover |
| Customer5 | 3,633,081.23 | 1,816,540.62 | 50.00% | Expectedtodifficultlyrecover |
| Customer6 | 3,279,100.00 | 3,279,100.00 | 100.00% | Expectedtodifficultlyrecover |
| Customer7 | 2,068,377.01 | 2,068,377.01 | 100.00% | Expectedtodifficultlyrecover |
| Customer8 | 5,359,381.00 | 5,359,381.00 | 100.00% | Difficulttorecover |
| Customer9 | 2,584,805.83 | 2,584,805.83 | 100.00% | Difficulttorecover |
| Customer10 | 1,747,839.10 | 1,747,839.10 | 100.00% | Difficulttorecover |
| Total | 30,515,544.63 | 28,619,957.80 | -- | -- |
Accountsreceivableforwhichbaddebtprovisionaccruedbycreditriskfeaturesgroup
Unit:RMB
| Name | Endingbalance | ||
| Carryingamount | Baddebtprovision | Withdrawalproportion | |
| Within1year | 642,166,048.04 | 12,843,320.94 | 2.00% |
| 1to2years | 8,755,103.78 | 437,755.18 | 5.00% |
| 2to3years | 4,792,557.78 | 718,883.67 | 15.00% |
| 3to4years | 1,052,669.09 | 315,800.73 | 30.00% |
| 4to5years | 742,280.57 | 445,368.34 | 60.00% |
| Over5years | 115,684,723.01 | 115,684,723.01 | 100.00% |
| Total | 773,193,382.27 | 130,445,851.87 | - |
Notestothebasisforthedeterminationofthegroups:
Theaccountsreceivablewasadoptedtheaginganalysisbasedonthemonthswhentheaccountsoccurredactually,amongwhichtheaccountsoccurredearlierwillbeprioritytobesettledintermsofthecapitalturnover.ExplanationoftheinputvalueandassumptionadoptedtodeterminethewithdrawalamountofbaddebtprovisionontheCurrentPeriod:Withreferencetotheexperienceofthehistoricalcreditloss,combiningwiththepredictionofthepresentstatusandfuturefinancialsituation,thecomparisontablewaspreparedbetweentheagingoftheaccountsreceivableandestimatedcreditlossrateinthedurationandtocalculatetheestimatedcreditloss.Pleaserefertotherelevantinformationofdisclosureofbaddebtprovisionofotheraccountsreceivableifadoptingthegeneralmodeofexpectedcreditlosstowithdrawbaddebtprovisionofaccountsreceivable.
□Applicable√NotapplicableDisclosurebyaging
Unit:RMB
| Aging | Carryingamount |
| Within1year(including1year) | 642,166,048.04 |
| 1to2years | 9,856,103.13 |
| 2to3years | 7,977,007.54 |
| Over3years | 148,548,909.82 |
| 3to4years | 4,450,019.60 |
| 4to5years | 2,341,866.64 |
| Over5years | 141,757,023.58 |
| Total | 808,548,068.53 |
(2)BadDebtProvisionWithdrawn,ReversedorRecoveredintheReportingPeriod
Unit:RMB
| Category | Beginningbalance | ChangesintheReportingPeriod | Endingbalance | |||
| Withdrawal | Reversalorrecovery | Write-off | Other | |||
| Baddebtprovisionwithdrawnseparately | 33,788,291.86 | 65,231.52 | 272,117.93 | 33,581,405.45 | ||
| Baddebtprovisionwithdrawnbygroup | 192,148,650.56 | 6,319,796.20 | 68,144,900.92 | 130,323,545.84 | ||
| Total | 225,936,942.42 | 6,385,027.72 | 272,117.93 | 68,144,900.92 | 163,904,951.29 |
OfwhichbaddebtprovisionreversedorrecoveredwithsignificantamountintheReportingPeriod:No.
(3)ThereWasNoParticularsoftheActualVerificationofAccountsReceivableduringtheReportingPeriod
Unit:RMB
| Item | Amount |
| Actualverificationofaccountsreceivable | 68,144,900.92 |
Ofwhichtheverificationofsignificantaccountsreceivable:
Unit:RMB
| Nameoftheentity | Nature | Amountverified | Reason | Performanceofverificationprocedures | Whethergeneratedfromrelated-partytransaction |
| WuweiGoldenFrogVehicleManufacturingCo.,Ltd. | Baddebtloss | 10,000,000.00 | Theagingofcanceledreceivablesshallexceed5yearsandresultfromfruitlesscollection,andifanysingleclient’slargeamountisinvolvedwithoutanybusinesstransaction | The3rdMeetingofthe9thBoardofDirectorsandthe3rdMeetingofthe9thSupervisoryCommitteeheldon26June2020reviewed | No |
| XuzhouZhengdaAgriculturalMachineryCo.,Ltd. | 7,583,232.65 | ||||
| ShandongAgriculturalMachineryGroupHezeAreaAgriculturalMachineryCo.,Ltd. | 4,581,880.41 | ||||
| SichuanTiantaiElectromechanicalAgriculturalMachineryCo.,Ltd. | 3,600,000.00 |
| PuyangShifengAgriculturalMachineryCo.,Ltd. | 2,752,840.00 | withtheCompanyforovertenyears,theclient’squalificationforbusinessoperationshallbecanceledortheinsolvencyliquidationisfinishedwithoutanyproductionandoperationactivities. | andapprovedtheProposalonVerificationofPartialAccountsReceivable. | |
| JiningHydraulicDrillingPlant | 2,450,966.67 | |||
| ZhanjiangAgriculturalMachineryCo.,Ltd. | 2,180,243.72 | |||
| KaifengTractorFactory | 1,976,282.47 | |||
| LinyiAgriculturalMachineryGroupCorporation | 1,860,830.82 | |||
| HenanZhongjianIndustrialCo.,Ltd. | 1,758,686.48 | |||
| ShanxiJiaochengXinyuanIronFactory | 1,662,052.98 | |||
| GanyuAgriculturalMachineryCo.,Ltd. | 1,285,160.60 | |||
| NanningChangshunrongAgriculturalMachineryCo.,Ltd. | 1,236,225.30 | |||
| LongmaAgriculturalVehicleCo.,Ltd. | 1,235,170.95 | |||
| XinjiangKorlaFeihongAgriculturalMachineryCo.,Ltd. | 1,200,000.00 | |||
| GaotangRaoyangCountyAgriculturalMachineryCity | 1,149,217.70 | |||
| HainingBusGeneralFactory | 848,158.92 | |||
| YunnanNanpingAgriculturalMachineryManagement | 841,642.86 | |||
| TongshanDongfangAgriculturalMachinerySalesDepartment | 830,000.00 |
| JuningHuaihaiAgriculturalMachineryTradingCo.,Ltd. | 800,000.00 | ||||
| JiangxiLidaAgriculturalMachinerySalesCo.,Ltd. | 797,786.72 | ||||
| ShenyangFusangAgriculturalMachineryCo.,Ltd. | 796,226.73 | ||||
| AnhuiWoyangAgriculturalMachineryCo.,Ltd. | 760,197.20 | ||||
| Tai'anGuotaiTractorFactory | 728,666.36 | ||||
| LijinYongxingAgriculturalMachinerySalesCo.,Ltd. | 677,250.00 | ||||
| HefeiXinfaMaterialsCo.,Ltd. | 551,305.36 | ||||
| ChangqingCountyAgriculturalMachineryCompany | 549,800.00 | ||||
| HenanBoaiAgriculturalMachineryCo.,Ltd. | 537,698.10 | ||||
| ShandongShuangliGroupCo.,Ltd. | 12,343,782.28 | ||||
| ShandongDongchangGroupLaborServiceCo.,Ltd. | 520,892.51 | ||||
| Total | -- | 68,096,197.79 | -- | -- | -- |
(4)Top5oftheEndingBalanceofOtherReceivablesCollectedaccordingtotheArrearsParty
Unit:RMB
| Nameoftheentity | Endingbalanceofaccountsreceivable | Proportiontototalendingbalanceofaccountsreceivable | Endingbalanceofbaddebtprovision |
| Customer1 | 376,475,098.82 | 46.56% | 7,529,501.98 |
| Customer2 | 54,293,467.67 | 6.71% | 1,085,869.35 |
| Customer3 | 32,287,845.17 | 3.99% | 763,817.03 |
| Customer4 | 21,395,243.36 | 2.65% | 427,904.87 |
| Customer5 | 18,593,170.87 | 2.30% | 371,863.42 |
| Total | 503,044,825.89 | 62.22% |
Attheendoftheperiod,thesumofthetopfiveaccountsreceivablecollectedaccordingtothearrearsamountedtoRMB503,044,825.89,accountingfor62.22%ofthetotalbalanceattheendoftheperiod.ThecorrespondingendingbalanceofbaddebtprovisionisRMB10,178,956.65.
2.OtherReceivables
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Otherreceivables | 22,243,041.97 | 22,741,542.22 |
| Total | 22,243,041.97 | 22,741,542.22 |
(1)OtherReceivable
1)OtherReceivablesClassifiedbyAccountNature
Unit:RMB
| Nature | Endingcarryingamount | Beginningcarryingamount |
| CashdepositandMargin | 4,200.00 | 4,200.00 |
| Intercoursefundsamongunits | 38,118,999.36 | 37,618,642.29 |
| Pettycashandborrowingsbyemployees | 671,871.57 | 624,083.07 |
| Other | 13,654,433.26 | 15,373,206.41 |
| Total | 52,449,504.19 | 53,620,131.77 |
2)WithdrawalofBadDebtProvision
Unit:RMB
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Total |
| Expectedcreditlossofthenext12months | Expectedlossintheduration(creditimpairmentnotoccurred) | Expectedlossintheduration(creditimpairmentoccurred) | ||
| Balanceof1January2020 | 30,878,589.55 | 30,878,589.55 | ||
| Balanceof1January2020intheCurrentPeriod | —— | —— | —— | —— |
| --TransfertoSecondstage | ||||
| --TransfertoThirdstage | ||||
| --ReversetoSecondstage | ||||
| --ReversetoFirststage | ||||
| WithdrawaloftheCurrentPeriod | 25,814.56 | 25,814.56 | ||
| ReversaloftheCurrentPeriod | 697,941.89 | 697,941.89 | ||
| Write-offsoftheCurrentPeriod | ||||
| VerificationoftheCurrentPeriod | ||||
| Otherchanges | ||||
| Balanceof30June2020 | 30,206,462.22 | 30,206,462.22 |
ChangesofcarryingamountwithsignificantamountchangedoflossprovisionintheCurrentPeriod
□Applicable√NotapplicableDisclosurebyaging
Unit:RMB
| Aging | Carryingamount |
| Within1year(including1year) | 19,721,955.40 |
| 1to2years | 1,720,886.24 |
| 2to3years | 592,647.80 |
| Over3years | 30,414,014.75 |
| 3to4years | 1,007,667.17 |
| 4to5years | 178,915.24 |
| Over5years | 29,227,432.34 |
| Total | 52,449,504.19 |
3)BadDebtProvisionWithdrawn,ReversedorRecoveredintheReportingPeriodInformationofbaddebtprovisionwithdrawn:
Unit:RMB
| Category | Beginningbalance | ChangesintheReportingPeriod | Endingbalance | |||
| Withdrawal | Reversalorrecovery | Write-off | Other | |||
| Baddebtprovisionwithdrawnseparately | 5,042,448.58 | 25,814.56 | 5,068,263.14 | |||
| Baddebtprovisionwithdrawnbygroup | 25,836,140.97 | 697,941.89 | 25,138,199.08 | |||
| Total | 30,878,589.55 | 25,814.56 | 697,941.89 | 30,206,462.22 | ||
4)ParticularsoftheActualVerificationofOtherReceivablesduringtheReportingPeriod:No.
5)Top5oftheEndingBalanceofOtherReceivablesCollectedaccordingtotheArrearsParty
Unit:RMB
| Nameoftheentity | Nature | Endingbalance | Aging | Proportiontototalendingbalanceofotherreceivables | Endingbalanceofbaddebtprovision |
| ChangzhouChangchaiBenniuDieselEngineFittingsCo.,Ltd. | Intercoursefunds | 10,000,000.00 | Within1year | 19.07% | 200,000.00 |
| ChangzhouChangchaiHoushengAgriculturalEquipmentCo.,Ltd. | Intercoursefunds | 9,415,165.78 | Within1yearwithRMB8,125,173.79,1to2yearswithRMB1,206,967.28,2to3yearswithRMB83,024.71. | 17.95% | 235,305.55 |
| ChangzhouCompressorsFactory | Intercoursefunds | 2,940,000.00 | Over5years | 5.61% | 2,940,000.00 |
| ChangchaiGroupImp.&Exp.Co.,Ltd. | Intercoursefunds | 2,853,188.02 | Over5years | 5.44% | 2,853,188.02 |
| ChangzhouNewDistrictAccountingCentre | Intercoursefunds | 1,626,483.25 | Over5years | 3.10% | 1,626,483.25 |
| Total | -- | 26,834,837.05 | -- | 51.16% | 7,854,976.82 |
3.Long-termEquityInvestment
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Depreciationreserves | Carryingvalue | Carryingamount | Depreciationreserves | Carryingvalue | |
| Investmenttosubsidiaries | 287,752,730.03 | 287,752,730.03 | 252,752,730.03 | 252,752,730.03 | ||
| Investmenttojointventuresandassociatedenterprises | 44,182.50 | 44,182.50 | 44,182.50 | 44,182.50 | ||
| Total | 287,796,912.53 | 44,182.50 | 287,752,730.03 | 252,796,912.53 | 44,182.50 | 252,752,730.03 |
(1)InvestmenttoSubsidiaries
Unit:RMB
| Investee | Beginningbalance(carryingvalue) | Increase/decrease | Endingbalance(carryingvalue) | Endingbalanceofdepreciationreserve | |||
| Additionalinvestment | Reducedinvestment | Withdrawalofdepreciationreserve | Other | ||||
| ChangchaiWanzhouDieselEngineCo.,Ltd. | 51,000,000.00 | 51,000,000.00 | |||||
| ChangzhouChangchaiBenniuDieselEngineFittingsCo.,Ltd. | 96,466,500.00 | 96,466,500.00 | |||||
| ChangzhouHoushengInvestmentCo.,Ltd. | 40,000,000.00 | 40,000,000.00 | |||||
| ChangzhouChangchaiHoushengAgriculturalEquipmentCo.,Ltd. | 7,000,000.00 | 7,000,000.00 | |||||
| ChangzhouFujiChangchaiRobinGasolineEngineCo.,Ltd. | 47,286,230.03 | 47,286,230.03 | |||||
| JiangsuChangchaiMachineryCo.,Ltd. | 10,000,000.00 | 35，000,000.00 | 45,000,000.00 | ||||
| ChangzhouXingshengPropertyManagementCo.,Ltd. | 1,000,000.00 | 1,000,000.00 | |||
| Total | 252,752,730.03 | 35,000,000.00 | 287,752,730.03 | 0.00 |
(2)InvestmenttoJointVenturesandAssociatedEnterprises
Unit:RMB
| Investee | Beginningbalance(carryingvalue) | Increase/decrease | Endingbalance(carryingvalue) | Endingbalanceofdepreciationreserve | |||||||
| Additionalinvestment | Reducedinvestment | Gainsandlossesrecognizedundertheequitymethod | Adjustmentofothercomprehensiveincome | Changesofotherequity | Cashbonusorprofitsannouncedtoissue | Withdrawalofimpairmentprovision | Other | ||||
| II.Associatedenterprises | |||||||||||
| BeijingTsinghuaXingyeIndustrialInvestmentManagementCo.,Ltd. | 0.00 | 0.00 | 44,182.50 | ||||||||
| Subtotal | 0.00 | 0.00 | 44,182.50 | ||||||||
| Total | 0.00 | 0.00 | 44,182.50 |
4.OperatingRevenueandCostofSales
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear | ||
| Operatingrevenue | Costofsales | Operatingrevenue | Costofsales | |
| Mainoperations | 1,066,808,215.93 | 914,519,611.82 | 1,016,544,011.76 | 895,758,979.30 |
| Otheroperations | 14,661,587.19 | 8,902,410.95 | 16,785,163.82 | 11,527,336.19 |
| Total | 1,081,469,803.12 | 923,422,022.77 | 1,033,329,175.58 | 907,286,315.49 |
Informationrelatedtoperformanceobligations:performingaccordingtothecontractofferInformationrelatedtotransactionvalueassignedtoresidualperformanceobligations:
TheamountofrevenuecorrespondingtoperformanceobligationsofcontractssignedbutnotperformedornotfullyperformedyetwasRMB0attheperiod-end.
5.InvestmentIncome
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Dividendincomefromholdingofotherequityinstrumentinvestment | 4,865,000.00 | |
| Investmentincomefromholdingofavailable-for-salefinancialassets | ||
| Investmentincomefromdisposalofavailable-for-salefinancialassets | ||
| Incomefromtransferringtoaccommodationbusiness | 118,988.73 | |
| Total | 4,983,988.73 |
XVII.SupplementaryMaterials
1.ItemsandAmountsofNon-recurringProfitorLoss
√Applicable□Notapplicable
Unit:RMB
| Item | Amount | Note |
| Gainorlossondisposalofnon-currentassets | 9,252.03 | |
| Governmentsubsidieschargedtocurrentprofitorloss(exclusiveofgovernmentsubsidiesgivenintheCompany’sordinarycourseofbusinessatfixedquotasoramountsasperthegovernment’suniformstandards) | 2,657,218.07 | |
| Capitaloccupationchargesonnon-financialenterprisesthatarerecordedintocurrentgainsandlosses | 257,714.14 | |
| Gain/lossfromchangeoffairvalueoftradingfinancialassetsandliabilities,andderivativefinancialassetsandliabilities,andinvestmentgainsfromdisposaloftradingfinancialassetsandliabilities,andderivativefinancialassetsandliabilities,andinvestmentinotherdebtobligations,otherthanvalidhedgingrelatedtotheCompany’scommonbusinesses | 5,384,597.04 | |
| Othernon-operatingincomeandexpensesotherthantheabove | 95,387.43 | |
| Less:Incometaxeffects | 1,205,579.18 | |
| Non-controllinginterestseffects | 180,418.43 | |
| Total | 7,018,171.10 | -- |
ExplainthereasonsiftheCompanyclassifiesanitemasannon-recurringgain/lossaccordingtothedefinitionintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—Non-recurringGainsandLosses,orclassifiesanyextraordinarygain/lossitemmentionedinthesaidexplanatoryannouncementasarecurrentgain/lossitem.
□Applicable√Notapplicable
2.ReturnonEquityandEarningsPerShare
| ProfitasofReportingPeriod | WeightedaverageROE(%) | EPS(Yuan/share) | |
| EPS-basic | EPS-diluted | ||
| NetprofitattributabletoordinaryshareholdersoftheCompany | 1.32 | 0.0493 | 0.0493 |
| NetprofitattributabletoordinaryshareholdersoftheCompanyafterdeductionofnon-recurringprofitorloss | 0.99 | 0.0368 | 0.0368 |
PartXIIDocumentsAvailableforReference
(I)ThefinancialstatementssignedandsealedbytheCompany’slegalrepresentative,GeneralManagerandheadofthefinancialdepartment(accountantincharge).(II)TheoriginalsofalltheCompany’sdocumentsandannouncementswhichweredisclosedonthewebsitedesignatedbytheCSRCduringtheReportingPeriod.(III)TheInterimReportdisclosedinothersecuritiesmarkets.Theabove-mentioneddocumentsavailableforreferenceareallkeptintheSecretariatoftheBoardofDirectorsoftheCompanyandtheShenzhenStockExchange.ThisInterimReporthasbeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionshallprevail.
TheBoardofDirectorsChangchaiCompany,Limited
31July2020