2019
StockCode:000613,200613ShortFormoftheStock:Dadonghai-A,Dadonghai-B
海南大东海旅游中心股份有限公司HainanDadonghaiTourismCentre(Holdings)Co.,Ltd.
Semi-AnnualReport2019
(Full-text)
DisclosureDate:10August2019
2019
SectionI.ImportantNotice,ContentsandParaphrase
ImportantNotice:
BoardofDirectors,SupervisoryCommittee,alldirectors,supervisorsandseniorexecutivesofHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.(hereinafterreferredtoastheCompany)herebyconfirmthattherearenoanyfictitiousstatements,misleadingstatements,orimportantomissionscarriedinthisreport,andshalltakeallresponsibilities,individualand/orjoint,forthereality,accuracyandcompletionofthewholecontents.YuanXiaoping,PrincipaloftheCompany,FuZongren,personinchargerofaccountingworksandFuZongren,personinchargeofaccountingorgan(accountingprincipal)herebyconfirmthattheFinancialReportof2019Semi-AnnualReportisauthentic,accurateandcomplete.AlldirectorsareattendingtheBoardMeetingforReportdeliberation.TheCompanyhasnoplanofcashdividendscarriedout,bonusissuedandcapitalizingofcommonreserveseither.Concerningtheforward-lookingstatementswithfutureplanninginvolvedintheReport,theydonotconstituteasubstantialcommitmentforinvestors.Investorsareadvisedtoexercisecautionofinvestmentrisks.
Content
Semi-AnnualReport2019 ...... 1
SectionIImportantNoticeadnParaphrase ...... 2
SectionIICompanyProfileandMainFinnaicalIndexes ...... 5
SectionIIISummaryofCompanyBusiness ...... 8
SectionIVDiscussionandAnalysisofOperation ...... 10
SectionVImportantEvents ...... 16
SectionVIChangesinsharesandparticularaboutshareholders ...... 27
SectionVIIPreferredStock ...... 31
2019
SectionVIIIParticularsaboutDirectors,SupervisorsandSeniorExecutives ...... 32
SectionIXCorporateBonds ...... 33
SectionXFinancialReport ...... 34
SectionXIDocumentsavailableforreference ...... 121
2019
Paraphrase
ItemsReferstoContentsCSRCReferstoChinaSecuritiesRegulationCommissionSSEReferstoShenzhenStockExchangeCompanyLawReferstoCompanyLawofThePeople’sRepublicofChinaSecuritiesLawReferstoSecuritiesLawofThePeople’sRepublicofChinaCompany,theCompanyReferstoHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.ArticleofAssociationRefersto
ArticleofAssociationofHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.Shareholders’GeneralMeetingRefersto
Shareholders’GeneralMeetingofHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.BoardReferstoBoardofHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.SupervisoryCommitteeRefersto
SupervisoryCommitteeofHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.YuanReferstoCNY/RMB
RiskWarningSecuritiesTimes,HongKongCommercialDailyandJuchaoWebsite(www.cninfo.com.cn)arethemediaforinformationdisclosureappointedbytheCompanyforyearof2019,allinformationunderthenameoftheCompanydisclosedontheabovesaidmediashallprevail.ThereportispreparedinbilingualversionsofChineseandEnglishrespectively,intheeventofanydiscrepancyinunderstandingthetwoaforementionedversions,theChineseversionshallprevail.Investorsareadvisedtoexercisecautionofinvestmentrisks.
2019
SectionII.CompanyProfileandMainFinancialIndexesI.CompanyinformationShortformofthestockDadonghai-A,Dadonghai-BStockcode000613,200613ShortformoftheStockafterchanged
N/AStockexchangeforlistingShenzhenStockExchangeNameoftheCompany(inChinese)ShortformoftheCompany(inChinese)ForeignnameoftheCompanyHainanDadonghaiTourismCentre(Holdings)Co.,LtdForeignnameofshortformoftheCompany
DADONGHAILegalrepresentativeYuanXiaoping
II.Person/Waytocontact
SecretaryoftheBoardRep.ofsecurityaffairsNameWangHongjuanContactadd.DadonghaiSanyaTel.0898-88219921Fax.0898-88214998E-mailhnddhhn@21cn.comIII.Others
1.Wayofcontact
Whetherregistrationsaddress,officesaddressandcodesaswellaswebsiteandemailoftheCompanychangedinreportingperiodornot
□Applicable√Notapplicable
Registrationsaddress,officesaddressandcodesaswellaswebsiteandemailoftheCompanyhavenochangeinreportingperiod,foundmoredetailsinAnnualReport2018.
2.Informationdisclosureandpreparationplace
Whetherinformationdisclosureandpreparationplacechangedinreportingperiodornot
2019
□Applicable√Notapplicable
Thenewspaperappointedforinformationdisclosure,websiteforsemi-annualreportpublishappointedbyCSRCandpreparationplaceforsemi-annualreporthavenochangeinreportingperiod,foundmoredetailsinAnnualReport2018.IV.Mainaccountingdataandfinancialindexes
Whetherithasretroactiveadjustmentorre-statementonpreviousaccountingdata
□Yes√No
Currentperiod
Sameperiodoflastyear
Increase/decreaseinthisreport
y-o-yOperatingrevenue(RMB)14,241,961.0416,173,929.32-11.94%Netprofitattributabletoshareholdersofthelistedcompany(RMB)
755,974.011,282,165.58-41.04%Netprofitattributabletoshareholdersofthelistedcompanyafterdeductingnon-recurringgainsandlosses(RMB)
595,943.551,282,370.56-53.53%Netcashflowarisingfromoperatingactivities(RMB)1,269,416.653,110,677.60-59.19%Basicearningspershare(RMB/Share)0.00210.0035-40.00%Dilutedearningspershare(RMB/Share)0.00210.0035-40.00%WeightedaverageROE(%)0.97%1.65%-0.68%
Endofcurrent
period
Endoflast
period
Increase/decreaseinthisreport-endoverthatoflast
period-endTotalassets(RMB)87,407,933.3288,197,118.07-0.89%Netassetsattributabletoshareholderoflistedcompany(RMB)
78,544,670.3077,788,696.290.97%V.DifferenceoftheaccountingdataunderaccountingrulesinandoutofChina
1.Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothIAS(InternationalAccountingStandards)andChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable√Notapplicable
TheCompanyhadnodifferenceofthenetprofitornetassetsdisclosedinfinancialreport,undereitherIAS(InternationalAccountingStandards)orChineseGAAP(GenerallyAcceptedAccountingPrinciples)intheperiod.
2.Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothforeignaccountingrulesandChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable√Notapplicable
TheCompanyhadnodifferenceofthenetprofitornetassetsdisclosedinfinancialreport,undereitherforeignaccountingrulesorChineseGAAP(GenerallyAcceptedAccountingPrinciples)intheperiod.
2019
VI.Itemsandamountsofextraordinaryprofit(gains)/loss
√Applicable□Notapplicable
InRMBItemAmountNoteOther160,030.46Cleanuplong-termunpaidpayableTotal160,030.46--Concerningtheextraordinaryprofit(gain)/lossdefinedbyQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,andtheitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,explainreasons
□Applicable√Notapplicable
Inreportingperiod,theCompanyhasnoparticularaboutitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss
2019
SectionIII.SummaryofCompanyBusiness
I.MainbusinessesofthecompanyinthereportingperiodWhetherthecompanyneedstocomplywiththedisclosurerequirementsoftheparticularindustryNoThecompany'smainbusinessishotelaccommodationandcateringservices.Procurementofgoodsismainlythegoodsandmaterialsnecessaryforhotelandcateringoperationsbytakingtheprincipleoflowpriceandfinequality,somegoodsarepurchasedbydirectlysigningpurchasecontractswithsuppliers,andsomegoodarepurchasedbyprocurementagents.Theoperationaremainlyincludingthenetworkbillingandoverseastravelagencyteam,andsupplementedbytheindividualtravelersofnon-internetmarketingandbusinessandthetouristsfromtravelagencies.ThehotelislocatedatthecentralzoneofDadonghaiscenicspotinSanyaCity,HainanProvince,andithasbecomeamemberofthenationwidefamoushotelsbecauseoftheconvenienttransportation,beautifulenvironment,longhistory,andrichculture.However,inrecentyears,thelocalhigh-,middle-andlow-gradehotelsorguesthousesnumerouslyemerge,resultinginthesupplymuchlargerthanthemarketdemand,theindustrycompetitionisratherfierce,andthepressureofdeclineinbusinessremains.II.Majorchangesinmainassets
1.Majorchangesinmainassets
MajorassetsNoteofmajorchangesAccountreceivable
Decreased0.27millionYuanoverthatofyearbeginning,mainlybecausefundsreturnedincreasedinreportingperiodOtherreceivables
Increased0.78millionYuanoverthatofyearbeginning,mainlybecausethepettycashandcourtfeeincreasedatendoftheperiod
2.Mainoverseasassets
□Applicable√Notapplicable
III.CoreCompetitivenessAnalysis
WhetherornottheCompanycomplieswithdisclosurerequirementofthespecialindustryNoThecompanytakeshotelaccommodationandcateringservicesastheprincipleworks,locatesatDadonghaibaywhichisoneoftheChina“Top40scenery”andtheonlyAAAAscenicspotopenforfreeinSanyaandhasthemaximumpassengerflowvolumeinSanyaCity,andisabouta5-minutedrivefromdowntownofSanyaCityandabouta30-minutedrivefromSanyaPhoenixAirport.Thehotelisonlytensofmetersdistantfromthesealevel,possessesbeautifullandscapingfullofbloomingflowersalltheyearround,andenjoysexceptionalgeography,naturalenvironmentaladvantages.ThehotelhasopenedformorethantwodecadeswhichisoneoftheoldesthotelsinSanyaandhasreceivedmanydomesticandforeignheadsofstateandnationalleaders.Intherecentyears,the
2019
companyhascomprehensivelyupgradedandrebuiltthehotel’ssoftwareandhardwarefacilities,furtherimprovedthehotelsinternalandexternalbusinessenvironment,andeffectivelyenhancedthebusinesscompetitiveness.Currently,themanagementofthecompany’shotelisstillinthefrontrankamonghotelsinthesamearea,withthesamescale,andatthesamelevel.Inthefuturework,thecompanywillkeeptryingtoimprovethehotel’sinternalandexternalbusinessenvironment,strengthenthesaleseffortsandthestaffconstruction,andfurtherimprovetheoperationalcapability.Duringthereportingperiod,thecompany'scorecompetencehadnosignificantchange.
2019
SectionIV.DiscussionandAnalysisofOperationI.Introduction
Duringthereportingperiod,thecompanyrealizedmainbusinessincomeof14,242,000Yuan,decreasedby1,932,000Yuancomparedwiththesameperiodlastyear,adecreaseof11.94%;netprofitof756,000Yuan,decreasedby526,200Yuancomparedwiththesameperiodlastyear,adecreaseof41.04%.Duringthereportingperiod,theCompanyfocusonmarket-orientedandusemarketingstrategyinaflexiblewaytoexploitedthesaleschannel,meanwhile,strengtheningenterprisecultureconstructionaswellastheemployeeteam-building,makingeffortstoimproveproduct’squality,strictlycontrollingthecostmanagement,perfecttheCompany’sinternalcontrolsysteminordertoreducetherisksandconsumptionformoreincomeearnsandlessexpenditurecosts,wecompletedtheoperationtargetsthatformulatedatbeginningoftheyearbasically.Mainworksareas:
1.Market-oriented,usemarketingstrategyinaflexiblewaytoexploitthesaleschannelDuringthereportingperiod,theCompanyactivelyexpandedthenetworkmarket,theRussianmarketandthesouthwest,north,eastandsouthernChinamarketsinadditiontofurtherconsolidatingitsexistingcustomerbasesorientedbymarketswithflexibleutilizationofmarketingstrategies.Besides,increasingcooperationwasmadebytheCompanywithdomesticandforeignwell-knowntravelagencies,salesnetworkplatformsanddirect-saletravelagenciesinthefirstandsecondtiercities.TheCompanyalsoconductedimplementationofsalesincentivesandsalesmechanisminvolvingeverystaff,toincreasethemarketshareintermsofsales.
2.People-oriented,strengthentheenterprisewithhigh-quality,strivetoimproveproductqualityandenhancethecompetitive-nessofenterprisesInreportingperiod,inlinewiththeHuman-Orientedemploymentideality,wecontinuouslyenrichedtheculturelifeforemployees,createaharmoniousworkingenvironmentandstrengthentheconstructionofenterprisecultureandstaff-building.Atthesametime,createnewmanagementmechanism,motivateandmobilizedtheenthusiasm,initiativeandcreativityofthestaff.Basedonthemanagementidealof“strengthentheenterprisewithhigh-quality”,weconstantlystrengthenthehotelmanagementandcarriedoutskilltraininginpre-jobfortheirbasicinformationandtheafter-jobforbusinessabilityimprovement.Enhancetheservicestandardsandconsciousness,aswellasthesenseofresponsibilityandquality,effectivelyimprovedtheservicequalityandmanagementstandards,andimprovingthequalityofthehotelandcomprehensivecompetitiveness.
3.Strictlycurbthecostsandbudgetmanagement,improveinternalcontrolmechanism,reducingrisksandconsumption,increaserevenueandreduceexpenditures,safetyinproductiontomaximizetheinterestoftheenterpriseDuringthereportingperiod,theCompanycontinuedtofocusonfinancialmanagement,improvetheprocurement
2019
managementsystem,strengthenmanagementofprocurementcostcontrolandbudgetmanagement,adoptdiversifiedmeanstoobtainprocurementpriceinquiry,suchasnetworkpriceinquiry,thehotelindustrypriceinquiryandothermeasures,obtaincostinquiryfromoverthreesupplierstoselectthebestone,controloperatingcostsinascientificmanner,strictlycontrolvariousexpenseandexpenditures,frequentinspectionandrepairtopreventwasteofresources,whichenabledtheCompanytoeffectivelyimprovethereasonablenessofprocurementcostandcosteffectiveness.Besides,humanresourcescostwaseffectivelybroughtdownduetooptimizedorganestablishmentandpersonneldistribution.Atthesametime,theCompanycontinuedtoimprovetheinternalcontrolsystem,strengthenregulationandimplementationofinternalcontrolsystem,strengthentheeffectiveimplementationofinternalcontrolwork,reducerisksandconsumption,increaserevenueandcontrolexpenditures,emphasizeproductionsafetyandimproveoperationalefficiency,toensuretheoperationsafetyandthusmaximizetheinterestsoftheCompanyasawhole.Inthesecondhalfof2019,theCompanycontinuestoconsolidateandexpandsaleschannels,improvethehotel’squalityandservicestandards,andenhancethecomprehensivecompetitiveness,tolayingoutasolidfoundationforsustained,stableandhealthydevelopmentoftheCompany.II.Mainbusinessanalysis
Seethe“I-Introduction”in“DiscussionandAnalysisofOperation”
Changeofmainfinancialdataonay-o-ybasis
InRMBCurrentperiod
Sameperiodoflastyear
Y-o-yincrease/de
crease
ReasonsforchangesOperationrevenue14,241,961.0416,173,929.32-11.94%
ThemainbuildingofthehotelisdecoratingandrenovatingsinceMayOperationcost5,514,477.936,000,063.36-8.09%
ThediningroomwasclosedfordecorationduetothedecorationinmainbuildingofthehotelSalesexpenses2,809,991.942,800,956.100.32%NormalchangesAdministrativeexpenses5,071,800.215,356,455.21-5.31%WagesexpensesdeclinedFinancialcost-133,732.0917,563.19-861.43%IncreaseininterestondepositsNetcashflowarisingfromoperationactivities
1,269,416.653,110,677.60-59.19%DecreaseinoperatingincomeNetcashflowarisingfrominvestmentactivities
-522,876.00-1,040,626.12-74.38%
MoreaccountpaidforprojectsatsameperiodoflastyearNetincreaseofcashandcashequivalent
746,540.652,070,051.48-63.94%DecreaseinoperatingincomeMajorchangesonprofitcompositionorprofitresourcesinreportingperiod
□Applicable√Notapplicable
2019
NochangesonprofitcompositionorprofitresourcesinreportingperiodConstitutionofmainbusiness
InRMBOperating
revenue
Operatingcost
Grossprofitratio
Increase/decreaseofoperatingrevenuey-o-y
Increase/decreaseofoperating
costy-o-y
Increase/decreaseofgrossprofitratioy-o-yAccordingtoindustriesTourismcateringservice
14,241,961.045,514,477.9361.28%-11.94%-8.09%-2.58%AccordingtoproductsRoomrevenue11,108,639.784,532,724.4559.20%-12.55%-2.84%-6.43%Cateringentertainmentrevenue
1,562,368.88744,491.7052.35%-18.28%-32.16%22.89%Rentalrevenue1,570,952.38237,261.7884.90%0.78%0.00%0.14%Accordingtoregion
14,241,961.045,514,477.9361.28%-11.94%-8.09%-2.58%
III.Analysisofthenon-mainbusiness
√Applicable□Notapplicable
InRMBAmountRatiointotalprofitNoteWhetherbesustainableNonoperatingincome
160,030.4621.17%Cleanuplong-termunpaidpayableNosustainable
IV.Assetsandliability
1.Majorchangesofassetscomposition
InRMBCurrentperiod-endSameperiod-endlastyear
Ratiochanges
NotesofmajorchangesAmount
Ratiointotal
assets
Amount
RatiointotalassetsMonetaryfund16,110,895.9518.43%11,751,658.6413.36%5.07%
ContinuousnetincreaseincashsincelastyearAccountreceivable
155,986.88
0.18%266,236.510.30%-0.12%
Returnofthereceivablesincreased
2019
Inventory191,693.570.22%264,620.690.30%-0.08%NormalchangesInvestmentrealestate
8,147,218.659.32%9,621,742.219.80%-0.48%DepreciationamortizationFixassets34,997,520.1640.04%38,017,199.3943.22%-3.18%DepreciationOtheraccountreceivable
1,242,181.641.42%800,136.440.91%0.51%AdvancepaymentincreasedOthercurrentassets
2,125,619.162.43%2,195,699.542.50%-0.07%NormalchangesLong-termamortizationexpenses
2,240,879.252.56%2,678,016.883.04%-0.48%Amortization
2.Assetsandliabilitymeasuredbyfairvalue
□Applicable√Notapplicable
3.Assetsrightrestrictiontillendofreportingperiod
NilV.Investment
1.Overallsituation
√Applicable□Notapplicable
Currentinvestmentamount(RMB)Sameperiodoflastyear(RMB)Changes(+,-)
1,000,000.001,000,000.000.00%
2.Themajorequityinvestmentobtainedinthereportingperiod
□Applicable√Notapplicable
3.Themajornon-equityinvestmentdoinginthereportingperiod
□Applicable√Notapplicable
4.Financialassetsinvestment
(1)Securitiesinvestment
□Applicable√Notapplicable
Thecompanyhadnosecuritiesinvestmentinthereportingperiod.
2019
(2)Derivativeinvestment
□Applicable√Notapplicable
TheCompanyhasnoderivativesinvestmentinthePeriodVI.Salesofmajorassetsandequity
1.Salesofmajorassets
□Applicable√Notapplicable
TheCompanyhadnosalesofmajorassetsinthereportingperiod.
2.Salesofmajorequity
□Applicable√Notapplicable
VII.Analysisofmainholdingcompanyandstock-jointlycompanies
□Applicable√Notapplicable
TheCompanyhadnoinformationofmainholdingcompanyandstock-jointlycompaniesdisclosedinthereportingperiod.VIII.StructuredvehiclecontrolledbytheCompany
□Applicable√Notapplicable
IX.PredictionofbusinessperformancefromJanuary–September2019Estimationonaccumulativenetprofitfromthebeginningoftheyeartotheendofnextreportperiodtobelossprobablyorthewarningofitsmaterialchangecomparedwiththecorrespondingperiodofthelastyearandexplanationonreason
□Applicable√Notapplicable
X.Risksandcountermeasures
(1)MarcoPolicyrisks
Inordertonormalizeandoptimizetourismmarketorfurthertopromoteclear-partyconstruction,relateddepartmentsmayfurtherissuesomerelativepolicies.Whilethesepolicesmaycauserestrainandeffectonregionaltourismdevelopment.Mainbusinessincomemaybeaffectedsinceweareengagedintourismservice.Countermeasures:TheCompanywillfurthertoimprovethehardandsoftequipmentandfacilitiesofthehotelwhileexpandingthebusinessscope,andwinmoremarketsharesviahigh-classserviceandcomfortableenvironmentsoastoensurethemainbusinessincomelevel.
(2)Naturaldisasterrisks
Inrecentyears,variousnaturaldisasterstakeplacefrequently,HainanIslandbelongstooceanicclimate,wherehashighincidenceofdisastrousweatherinsummer.IfSanyabecomesthelandingplaceoftyphoon,itmaycause
2019
greatdamagestothefacilitiesoftheCompanyandaffecttheCompany’snormaloperation.Countermeasures:TheCompanywillstrengthentheconstructionandmaintenanceforinfrastructure,continuetobuypropertyinsurances,positivelyadopteffectivepreventionmeasures,andimprovetheabilityofresistingnaturaldisasters.
(3)RisksofHR
Demandfortalentinaspectofhotelsalesandmanagementareincreasinglyduetotheconstantlyriseofhotelindustry,flowofhoteltalentedpeoplecomesmorewidespreadandmorefrequent;wemayfacetherisksofdevelopmentrestrainedfrombraindrain.Countermeasure:wewillcontinuetoimprovethetalentintroduction,trainingsystem,incentivemechanism,remunerationandwelfareaswellasinsurancemechanism,strivetoattracttalent,cultivatethemandretainthem.Meanwhile,strengthenstaffqualityandskillsaswellasthemanagementability,furtherputtingmoreeffortsinenterprisecultureconstruction,enhancethecohesionintheCompany,andguaranteeastableofthecoremanagersandskilltechnicians.
(4)Operationalrisksofmainbusiness
Withtheceaselessdevelopmentofglobaltouristindustryconstantlyandceaselessrisingofhigh-class,middle-classandlow-classhotels,thetouristsourceskeepshunting,andthecompetitionoftourismserviceindustryinSanyabecomesincreasinglyfierce.WhilethemainbusinessoftheCompanyisjustasmall-scalehotel,asthemainbusinessissingleandthebusinessscopeislimited,thetouristmarketconditionsandtouristquantitydirectlymakesignificantaffectsonthecompanyperformance.Countermeasure:madeascientificmanagementanddecision-makingprocedures,strengthentheawarenessofriskprevention,buildingandimprovingrelevantmechanismandstandardizedthemanagementintheCompany.Furthermore,increasethesalesability,onbaseoftheformersalesnetwork,continuestoexploitforeignhigh-endtourismmarketunderthesuperiorgeographicallocationandenvironmentforimprovingtheoccupancyrate.Besides,wecontinuedtodevelopfinancingchannels,expandingoperationprojects,enrichtheindustrialstructureforincreasingtheprofitincreasingpoint.
2019
SectionV.ImportantEventsI.Inthereportperiod,theCompanyheldannualgeneralmeetingandextraordinaryshareholders’generalmeeting
1.AnnualGeneralMeetinginthereportperiod
Sessionofmeeting
Type
Ratioofinvestorparticipation
DateDateofdisclosureIndexofdisclosure
AGMof2018
Annualgeneralmeeting
31.66%2019-3-222019-3-23
The“ResolutionNoticeofAnnualGeneralMeetingof2018”(No.:2019-012)publishedonSecuritiesTimes,HongKongCommercialDailyandJuchaowebsite(http://www.cninfo.com.cn)dated23March2019respectively
2.Requestforextraordinarygeneralmeetingbypreferredstockholderswhosevotingrightsrestore
□Applicable√Notapplicable
II.ProfitdistributionandcapitalizationofcapitalreservesinthePeriod
□Applicable√Notapplicable
TheCompanyhasnoplansofcashdividenddistributed,nobonussharesandhasnoshareconvertedfromcapitalreserveeitherforthesemi-annualyear
III.CommitmentscompletedinPeriodandthosewithoutcompletedtillendofthePeriodfromactualcontroller,shareholders,relatedparties,purchaserandcompanies
√Applicable□Notapplicable
CommitmentsPromise
Typeof
commitments
Contentofcommitments
Commitmentdate
Commitment
term
Implement
ation
CommitmentsforShareMergerReform
LuoniushanCo.,Ltd
Commitm
entsfor
Share
Merger
Reform
OnMay30,2007,LuoniushanCo.,Ltd.madecommitmentsintheCompany’s"Instructionsforreformofnon-tradableshares"(Revision)and"Instructionsforreformofnon-tradableshares"(Abstractofrevision)thatinviewofDadonghaiCompany’slossesinsuccessiveyearsandonthevergeofdelisting,inordertoreversethecompany'sbusinessdifficulties,
2017-06-27
months
Theoriginalplansofmaterialassetsreorganizationwasterminated
2019
improveprofitabilityandrecoverthecontinuousbusinesscapacity,LuoniushanCo.,Ltd.,thecontrollingshareholderofDadonghaiCompanymadecommitmentstoactivelyseekrestructuringpartiestoreorganizetheassetsofDadonghaiCompanyattheappropriatetime.CommitmentsinreportofacquisitionorequitychangeCommitmentsinassetsreorganizationCommitmentsmakeininitialpublicofferingorre-financingEquityincentivecommitmentOthercommitmentsformediumandsmallshareholdersCompletedontime(Y/N)
N
Ifthecommitmentsisnotfulfilledontime,shallexplainthespecifyreasonandthenextworkplan
Thecompany’sstockhasbeensuspendedsincetheopeningonFebruary15,2017duetotheplanningandfulfillmentcommitmentsofLuoniushan.OnAugust13,2017,theconsiderationofthe11
thinterimmeetingoftheeighthboardofdirectorsofthecompanyfailedtoapprovethe“ProposalonMajorAssetPurchaseandRelatedTransactionReport(Plan)ofHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.”andother11proposals.OnAugust15,2017,thecompanyissuedanannouncementtoterminatethismajorassetrestructuring,andthecompany’sstockresumedtradingonAugust17
th.Currently,thecompanyhasnoinformationthatshouldbedisclosedbutnotdisclosed.OnDecember4,2017,theboardofdirectorsandtheboardofsupervisorsofthecompanyreviewedandapprovedtheProposalontheChangeofCommitmentPeriodoftheFirstMajorityShareholderoftheCompany.LuoniushanCo.,Ltd.,thecompany’sfirstmajorityshareholderplannedforatwo-yearextensionforthetimelimitofthecompany’srestructuringcommitmentsinceDecember27,2017,thatis,thedeadlinefortheimplementationoftherestructuringcommitmentwaschangedtoDecember26,2019.OnDecember22,2017,thecompany’sfourthextraordinaryshareholders’meetingin2017didnotapprovetheproposal.OnJanuary31,2018,thecompanyreceivedtheNoticeonPlanningforSuspensionofMajorEventssentbyLuoniushanCo.,Ltd.,thecompany’slargestshareholder,toplanandpreparethemajorissuesrelatedtothecompany.Uponapplicationbythecompany,thecompany’sstock(stockshortname:DadonghaiA,DadonghaiB,stockcode:000613,200613)wassuspendedsincetheopeningonJanuary31,2018.Uponapplicationbythecompany,thecompany’sstockresumedtradingonFebruary8,2018,andwastransferredtothemajorassetrestructuringsincetheopeningonFebruary14,2018.
2019
OnJune25,2018,thecompanyheldthethirdinterimmeetingoftheninthboardofdirectorswhichreviewedandapprovedtheProposalonTerminatingthePlanningforMajorAssetRestructuring.Aftercarefulstudy,theboardofdirectorsofthecompanydecidedtoterminatetheplanningforthismajorassetrestructuring.IV.Engagementandnon-reappointmentofCPAWhetherthesemi-annualreportwasauditedornot
□Yes√No
Thesemi-annualreportoftheCompanyhadnoaudited.V.ExplanationfromtheBoardandSupervisoryCommitteefor“QualifiedOpinion”fromtheCPA
□Applicable√Notapplicable
VI.Explanationon“QualifiedOpinion”ofpreviousyearfromtheBoard
□Applicable√Notapplicable
VII.Bankruptcyreorganization
□Applicable√Notapplicable
Inreportingperiod,theCompanyhasnobankruptcyreorganizationoccurred.
VIII.LawsuitsSignificantlawsuitsandarbitrationoftheCompany
√Applicable□Notapplicable
BasicSituationofLitigation(Arbitration)
AmountInvolved(Yuan)
Whet
hertoForm
anEstimate
dLiabi
lity
Litigation(Arbitration)Progress
Litigation(Arbitration)TrialResultsandImpact
Executi
onofLitigati
on(Arbitra
tion)Judgme
nt
Date
ofDisclosureDisclosureIndex
Theplaintiff,ChinaCindaAssetManagementCo.,Ltd.HainanBranch,suedthedefendants,
3,431.1
No
Theplaintiff,ChinaCindaAssetManagementCo.,Ltd.HainanBranch,suedthedefendants,HainanDadonghaiTourismCentre(Holdings)
Thefirstinstancejudgmentdismissed
N/A
2018-11-22;2019
AnnouncementonSignificantLitigation(Announcement
2019
HainanDadonghaiTourismCentre(Holdings)Co.,Ltd.andSanyaYueyaRealEstateDevelopmentCorporation,forafinancialloancontractdispute,appealingtoHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.torepaytheloanof5millionYuanandtheloaninterestof29,311,700YuantemporarilycalculatedtoApril30,2018,SanyaYueyaRealEstateDevelopmentCorporationassumesthejointandseveralliability,andthetwodefendantsbearlitigationcosts.Inthecourseofthelitigation,theplaintiffaddedthecompanyasaco-defendantandrequiredthecourttoorderthecompanytoassumejointandseveralliabilityfortheabovedebtsofHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.
Co.,Ltd.andSanyaYueyaRealEstateDevelopmentCorporation,forafinancialloancontractdispute,appealingtoHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.torepaytheloanof5millionyuanandtheloaninterestof29,311,700yuantemporarilycalculatedtoApril30,2018,SanyaYueyaRealEstateDevelopmentCorporationassumesthejointandseveralliability,andthetwodefendantsbearlitigationcosts.Inthecourseofthelitigation,theplaintiffaddedthecompanyasaco-defendantandrequiredthecourttoorderthecompanytoassumejointandseveralliabilityfortheabovedebtsofHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.Fortheabove-mentionedcaseofprincipalof5millionyuan,theverdictofCivilJudgment(2018)No.Q02MC76fromtheIntermediatePeople’sCourtSanyadismissedtheclaimoftheplaintiffChinaCindaAssetManagementCo.,Ltd.HainanBranch,andthecaseacceptancefeeandpropertypreservationapplicationfeewerebornebyChinaCindaAssetManagementCo.,Ltd.HainanBranch.TheplaintiffHainanCindarefusedtoacceptthefirst-instancejudgmentandappealedtotheHainanHigherPeople’sCourt.OnMarch28,2019,theverdictofCivilJudgment(2019)No.QMZ96fromHainanHigherPeople’sCourtdismissedtheappealandupheldtheoriginaljudgment;thesecond-instancecaseacceptancefeewasbornebyHainanCinda;thisjudgmentisthefinaljudgment.
theclaimoftheplaintiffChinaCindaAssetManagementCo.,Ltd.HainanBranch,andthecaseacceptancefeeandpropertypreservationapplicationfeewerebornebyChinaCindaAssetManagementCo.,Ltd.HainanBranch.Thejudgmentofthefirstinstancehasnoimpactonthecompany,Thesecondinstanceupheldthefirst-instancejudgment,therefore,
-1-5;2019-1-31;2019-4-2
No.:2018-061)publishedbySecuritiesTimes,HongKongCommercialDailyandwww.cninfo.com.cn.AnnouncementonSignificantLitigationProgress(AnnouncementNo.:2019-001)publishedbySecuritiesTimes,HongKongCommercialDailyandwww.cninfo.com.cn.AnnouncementonSignificantLitigationProgress(AnnouncementNo.:2019-003)publishedbySecuritiesTimes,HongKongCommercialDailyandwww.cninfo.com.cn.AnnouncementonSignificantLitigationProgress(AnnouncementNo.:2019-013)publishedbySecuritiesTimes,HongKongCommercialDailyandwww.cninfo.com.c
2019
thelawsuithadnoeffectonthecompany’scurrentprofitandfutureprofit.
n.
HainanDadonghaiTourismCentreGroupCo.,Ltd.borrowed2.76millionyuanand4.55millionyuanfromHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.onOctober16,1996andDecember26,1996respectively.Thetwoborrowingstotaled7.31millionyuanandhaven’tbeenrepaidyet.Thecompanysubmitteda"CivilComplaint"andrelatedevidencematerialstotheSanyaSuburbanPeople'sCourt(hereinafterreferredtoasthe"Court").
731No
OnJune3,2019,thecompanyreceivedthe"NoticeofAcceptingCase"(2019)No.Q0271MC5185issuedbythecourt,andthecourthasacceptedthecase.Atpresent,thecasehasnotyetbeenheard.
Thecompanyhaswrittenofftheborrowingsofthecaseinfullamountin2008.Atpresent,thecasehasnotbeenheard,andthecompanyisunabletojudgetheimpactofthislawsuitonthecompany'scurrentprofitorfutureprofit.
N/A
2019-06-
AnnouncementonSignificantLitigation(AnnouncementNo.:2019-017)publishedbySecuritiesTimes,HongKongCommercialDailyandwww.cninfo.com.cn.
Otherlawsuits
√Applicable□Notapplicable
BasicSituationofLitigation(Arbitration)
AmountInvolved(Yuan)
WhethertoFormanEstimat
Litigation(Arbitration)Progress
Litigation(Arbitration)TrialResultsandImpact
ExecutionofLitigation(Arbitration)
DateofDisclosure
DisclosureIndex
2019
edLiability
Judgment
OnMay31,2018,theSanyaLocalTaxationBureauSocialSecurityFeeCollectionandAdministrationBureauissuedanoticeofpaymentdeadlineforsocialinsurancepremiumstothecompany'sSouthChinaHotel,orderingthecompany'sSouthChinaHoteltopaytheunpaidsocialinsurancepremiumsandlatepaymentfeesandinterestfromJanuary1,2012toDecember31,2012oftotaling286,200.36yuan.OnMay17,2018,theSanyaLocalTaxationBureaudeductedthemoneyfromthedepositofthecompany'sSouthChinaHotel.Accordingtotheagreementofthe"ResponsibilityLetteroftheTargetManagementofSouthChinaHotel"signedbySouthChinaHotelandSunHongjie,SunHongjieshouldberesponsibleforthesocialinsurancepremiumincurredfromMay1,2011toApril30,2016.TheunpaidsocialinsurancepremiumoccurredduringSunHongjiestargetmanagementresponsibility,andSunHongjieshouldundertakethepayment.Sofar,SunHongjiehasnotrepaidtheadvancepaymenttothecompany'sSouthChinaHotel.Tothisend,thecompany'sSouthChinaHotelappealedtothecourt.
28.62No
OnJuly7,2019,thecompanyreceivedthe"NoticeofAcceptingCases"issuedbythecourt,andthecourthasacceptedthecase.Atpresent,thecasehasnotyetbeenheard.
Atpresent,thecasehasnotbeenheard,andthecompanyisunabletojudgetheimpactofthislawsuitonthecompany'scurrentprofitorfutureprofit.
N/A--
IX.Penaltyandrectification
□Applicable√Notapplicable
TheCompanyhasnopenaltyandrectificationinthePeriod
X.Integrityofthecompanyanditscontrollingshareholdersandactualcontrollers
□Applicable√Notapplicable
XI.Implementationofthecompany’sstockincentiveplan,employeestockownershipplanorotheremployeeincentives
□Applicable√Notapplicable
Duringthereportingperiod,thecompanyhasnostockincentiveplan,employeestockownershipplanorotheremployeeincentivesthathavenotbeenimplemented.
2019
XII.Majorrelatedtransaction
1.Relatedtransactionwithroutineoperationconcerned
√Applicable□Notapplicable
Relatedparty
RelationshipTypeofrelatedtransaction
Contentofrelatedtransaction
Pricingprinciple
Relate
dtransactionprice
Relate
dtransactionamount(in
thousa
ndYuan)
Proportion
insimila
rtransactions
Tradi
nglimitappro
ved(in10thousa
ndYuan)
Whet
herovertheappro
vedlimite
dor
not(Y/N)
Clearingform
forrelatedtransact
ion
Availab
lesimilarmarketprice
Dateofdisclosure
Indexofdisclosure
LuoniushanCo.,Ltd.
Firstmajorityshareholder
Consumption
Accommodation
Marketprice
Marketprice
12.520.88%0
Y
Sameasthetransactionwithnon-relatedparty
Sameasthetransactionwithnon-relatedpartyTotal
----12.52--0----------Detailofsalesreturnwithmajoramountinvolved
N/AReporttheactualimplementationofthedailyrelatedtransactionswhichwereprojectedabouttheirtotalamountbytypesduringthereportingperiod
N/AReasonsformajordifferencesbetweentradingpriceandmarketreferenceprice
Notapplicable
2.Relatedtransactionsbyassetsacquisitionandsold
□Applicable√Notapplicable
NorelatedtransactionsbyassetsacquisitionandsoldfortheCompanyinreportingperiod
3.Relatedtransactionsofmutualinvestmentoutside
□Applicable√Notapplicable
NomainrelatedtransactionsofmutualinvestmentoutsidefortheCompanyinreportingperiod
2019
4.Contactofrelatedcreditanddebt
□Applicable√Notapplicable
NocontactofrelatedcreditordebtfortheCompanyinthereportingperiod
5.Othermaterialrelatedtransactions
□Applicable√Notapplicable
TheCompanyhasnoothermaterialrelatedtransactionsintheperiod
XIII.Non-businesscapitaloccupyingbycontrollingshareholdersanditsrelatedparties
□Applicable√Notapplicable
Nonon-businesscapitaloccupiedbycontrollingshareholdersanditsrelatedpartiesinPeriodXIV.Majorcontractandimplantation
1.Trusteeship,contractandleasing
(1)Trusteeship
□Applicable√Notapplicable
TheCompanyhadnotrusteeshipinthereportingperiod.
(2)Contract
□Applicable√Notapplicable
TheCompanyhadnocontractinthereportingperiod.
(3)Leasing
√Applicable□Notapplicable
NoteofleasingItemTenantLeaselifeTermofleaseB/FoftheHotelMaMing(HainanHangpaiFoodCo.,Ltd.)5years2016-01-01to2020-12-31Shoppingmall–B/FXuJipeng3years2016-11-15to2019-11-14A/FgroundfloorChenJunwei3years2016-03-01to2019-02-28SeasidestallandwoodhouseSanyaLedaFoodManagementCo.,Ltd.5years2018-01-01to2022-12-31SeasidelockerroomZhongZhengao3years2016-12-01to2019-11-30Multi-functionalmeetingroomSanyaHaolideInternationalTravelAgencyCo.,Ltd.5years2017-10-01to2022-09-30
2019
Gains/lossestotheCompanyfromprojectsthatreachedover10%intotalprofitoftheCompanyinreportingperiod
√Applicable□Notapplicable
Nameof
lessor
Nameoftheleasingparty
Leasingassets
Leasingassetsinvolvedintheamount(in10thousand
Yuan)
Leasestart
date
Leaseterminatio
ndate
Leasingincome(in10thousandYuan)
Basis
fordetermi
ning
theleasingincome
Theimpact
ofleasingincomeonthecompan
y
Whet
herberelate
dtransactio
ns
Associatio
nrelati
onTheCompany
MaMing(HainanHangpaiFoodCo.,Ltd.)
B/Frestaurantinfirstfloor
1,886
2016-01-0
2020-12-3
37.8
Contract
Increaseincome
NoN/ATheCompany
SanyaLedaFoodManagementCo.,Ltd.
Seasidestallandwoodhouse
2018-01-0
2022-12-3
72.5
Contract
Increaseincome
NoN/ATheCompany
ZhongZhengao
Seasidelockerroom
2016-12-0
2019-11-3
Contract
Increaseincome
NoN/ATheCompany
SanyaHaolideInternationalTravelAgencyCo.,Ltd.
Multi-functionalmeetingroom
2017-10-0
2022-09-3
Contract
Increaseincome
NoN/A
2.MajorGuarantee
□Applicable√Notapplicable
TheCompanyhadnoguaranteeinthereportingperiod.
3.Othermaterialcontracts
√Applicable□Notapplicable
Thenameof
thecontract
ingcompan
y
Thenameofthecontract
edcompan
y
Contractobjec
t
Date
ofcontr
actsigni
ng
Thebookvalueoftheassetsinvolvedinthecontract(in10thousan
Theassesse
dvalueof
theassetsinvolvedinthecontract
(in10
Nameofevaluation
Thebasedateevaluation
Prici
ngPrinciple
Transactio
nprice
(in
thous
andyuan)
Whet
herRelat
edTransactionsor
not
Relevancerelationshi
p
Theperformanceby
theendoftheterm
Date
ofdisclosure
Index
ofdisclosure
2019
dyuan)thousan
dyuan)
institutionHainanDadonghaiTourismCentre(Holdings)Co.,LtdSouthChinaHotel
HaikouXindechengConstructionandInstallationEngineeringCo.,Ltd.
DecorationprojectoftheBuilding-AofSouthChinaHotel
2019-05-10
--
N/A
-
Marketprice
890No
Non-correlativerelationship
The
projectproceedingnormally
--
Note:Thecontractdoesnotconstituteamajorcontractmatter.The4
th
meetingoftheNinthBoardofDirectorsoftheCompanyreviewedandapprovedthe“ProposalonthedecorationandrenovationoftheBuildingAoftheSouthChinaHotel”.Atthesametime,theboardofdirectorshasauthorizedthecompanytohandlemattersincluding,butnotlimitedto,biddingforthematterandsigningofrelevantcontracts.XV.Socialresponsibility
1.Majorenvironmentalprotection
ListedcompanyanditssubsidiarybelongtothekeypollutionenterpriselistedbyDepartmentofEnvironmentalProtection:No
2.Executionofsocialresponsibilityoftargetedpovertyalleviation:NilXVI.Explanationonothersignificantevents
√Applicable□Notapplicable
1.TheLawyer’sLetterreceivedbytheCompany:bypreliminaryaccountingfromSanyaPowerBureau,the10313373KwhelectricitywasunderstatedunderthenameofSouthChinaHotelfromJuly2006toApril2016.TheCompanyiscommunicatedandnegotiateswithSanyaPowerBureauintheabovementionedeventwithoutnegotiationresultssofar.
2.ThecompanyreceivedtheLawyer’sLetter:MaincontentsoftheLawyer’sLetter:thefinancialloandisputebetweenthecompany’sjointstockcompany,HainanDadonghaiTourismCentre(Holdings)Co.,Ltd.(hereinafterreferredtoas“DadonghaiHoldings”),anditsoriginalcreditor,ChinaConstructionBankSanyaBranch(hereinafterreferredtoas“CCBSanyaBranch”),itsnewcreditorChinaCindaAssetManagementCo.,Ltd.HainanBranch(hereinafterreferredtoas“HainanCinda”)currentlymakestherighttorecover,thetwodebtsinclude:(1)theprincipalof1.1millionYuanandinterestof5,598,300YuantemporarilycalculatedtoApril30,2018,totaling6,698,300Yuan,andHainanCindaisreportedtohavedroppedthecase.(2)theprincipalof5millionYuan
2019
andinterestof29,311,700YuantemporarilycalculatedtoApril30,2018,totaling34,311,700Yuan.IfDadonghaiHoldingsisincapableofhandlingtheliquidation,HainanCindawillclaimthatthecompanyshouldbejointlyandseverallyliablefortheabovedebtsofDadonghaiHoldings.Duringthereportingperiod,thefirstinstancerulingrejectedHainanCinda’sclaimandthefinaljudgmentofthesecondinstanceshallbeupheldbythejudgmentofthefirstinstance.
XVII.SignificanteventofsubsidiaryoftheCompany
□Applicable√Notapplicable
2019
SectionVI.ParticularsaboutChangesinSharesandShareholdersI.ChangesinShareCapital
1.ChangesinShareCapital
InShareBeforetheChange
Increase/DecreaseintheChange
(+,-)
AftertheChange
Amount
Proportion
Newsharesissued
Bonusshares
Capitalizationofpublicreserve
OthersSubtotal
AmountProportion
I.Restrictedshares10,454,4002.87%0010,454,4002.87%
1.State-ownedshares
2.State-ownedcorporate
shares
2,323,2000.64%002,323,2000.64%
3.Otherdomesticshares
8,131,2002.23%008,131,2002.23%Including:Domesticlegalpersonshares
7,900,2002.17%007,900,2002.17%Domesticnaturalpersonshares
231,0000.06%00231,0000.06%II.Unrestrictedshares353,645,60097.13%00353,645,60097.13%
1.RMBcommonshares
265,645,60072.96%00265,645,60072.96%
2.Domesticallylisted
foreignshares
88,000,00024.17%0088,000,00024.17%III.Totalshares364,100,000100.00%00364,100,000100.00%Reasonsforsharechanged
□Applicable√Notapplicable
Approvalofsharechanged
□Applicable√Notapplicable
2019
Ownershiptransferofsharechanges
□Applicable√Notapplicable
Implementationprogressofthesharerepurchases
□Applicable√Notapplicable
Implementationprogressofthereductionofrepurchasessharesbycentralizedbidding
□Applicable√Notapplicable
InfluenceonthebasicEPSanddilutedEPSaswellasotherfinancialindexesofnetassetspershareattributabletocommonshareholdersofCompanyinlatestyearandperiod
□Applicable√Notapplicable
Otherinformationnecessarytodiscloseorneedtodisclosedunderrequirementfromsecurityregulators
□Applicable√Notapplicable
2.Changesofrestrictedshares
□Applicable√Notapplicable
II.Securitiesissuanceandlisting
□Applicable√Notapplicable
III.AmountofshareholdersoftheCompanyandparticularsaboutsharesholding
InShareTotalcommonstockshareholdersinreportingperiod-end
36,595
Totalpreferenceshareholderswithvotingrightsrecoveredatendofreportingperiod
Particularsaboutcommonsharesheldabove5%byshareholdersortoptencommonshareholders
FullnameofShareholders
Natureofshareholder
Proporti
onofshares
held
Numberof
commonsharesheld
atperiod-end
Changesinreport
period
Amount
ofrestricted
sharesheld
Amountofun-restrictedsharesheld
Numberof
sharepledged/fr
ozenState
ofshare
AmountLuoniushanCo.,Ltd.
Domesticnonstate-ownedcorporate
17.55%63,885,9800063,885,980
Pledged
3,
5,
2019
YangMeiqin
Domesticnatureperson
4.47%16,279,0280016,279,028PanAnjie
Domesticnatureperson
4.01%14,593,5980014,593,598HainanYa’anResidencePropertyServiceCo.,Ltd.
Domesticnonstate-ownedcorporate
2.25%8,205,800008,205,800ChenJinlian
Domesticnatureperson
2.13%7,766,400007,766,400HGNHInternationalAssetManagementCo.,Ltd–customerdeposit
Foreigncorporate1.23%4,495,902004,495,902PanAiping
Domesticnature
person
1.13%4,110,738004,110,738ChinaInvestmentSecurities(HK)Co.,Ld.–customerdeposit
Foreigncorporate0.99%3,622,300003,622,300ZhangFengxiu
Domesticnature
person
0.90%3,291,372-61000003,291,372ShenwanHongyuanSecurities(HongKong)Co.,Ltd.
Foreigncorporate0.84%3,056,390003,056,390Strategyinvestorsorgenerallegalpersonbecomestop10commonshareholdersduetorightsissued
N/A
Explanationonassociatedrelationshiporaccordantactionamongtheaforesaidshareholders
Amongtheaboveshareholders,HainanYa’anResidencePropertyServiceCo.,Ltd.isthewholly-ownedsubsidiaryofLuoniushanCo.,Ltd;YangMeiqin,PanAnjie,ChenJinlianandPanAipingarethepersonsactinginconcert;theCompanyisunknownwhetherthereexistsassociatedrelationshiporbelongstotheconsistentactorregulatedbytheManagementMeasureofInformationDisclosureonChangeofShareholdingforListedCompanyamongtheothershareholders.Particularabouttoptenshareholderswithun-restrictcommonsharesheld
Shareholders’name
Amountofun-restrictcommonsharesheldatPeriod-end
TypeofsharesTypeAmountLuoniushanCo.,Ltd.63,885,980RMBcommonshare63,885,980
2019
YangMeiqin
16,279,0
Domesticallylistedforeignshare
16,279,028PanAnjie
14,593,5
Domesticallylistedforeignshare
14,593,598HainanYa’anResidencePropertyServiceCo.,Ltd.
8,205,80
RMBcommonshare8,205,800ChenJinlian
7,766,40
Domesticallylistedforeign
share
7,766,400HGNHInternationalAssetManagementCo.,Ltd–customerdeposit
4,495,90
RMBcommonshare4,495,902PanAiping
4,110,73
Domesticallylistedforeign
share
4,110,738ChinaInvestmentSecurities(HK)Co.,Ld.–customerdeposit
3,622,30
RMBcommonshare3,622,300ZhangFengxiu
3,291,37
RMBcommonshare3,291,372ShenwanHongyuanSecurities(HongKong)Co.,Ltd.
3,056,39
Domesticallylistedforeign
share
3,056,390Expiationonassociatedrelationshiporconsistentactorswithinthetop10un-restrictcommonstockshareholdersandbetweentop10un-restrictcommonstockshareholdersandtop10commonstockshareholders
Amongtheaboveshareholders,HainanYa’anResidencePropertyServiceCo.,Ltd.isthewholly-ownedsubsidiaryofLuoniushanCo.,Ltd.YangMeiqin,PanAnjie,ChenJinlianandPanAipingarethepersonsactinginconcert;theCompanyisunknownwhetherthereexistsassociatedrelationshiporbelongstotheconsistentactorregulatedbytheManagementMeasureofInformationDisclosureonChangeofShareholdingforListedCompanyamongtheothershareholders.Explanationonshareholdersinvolvingmarginbusinessabouttoptencommonstockshareholderswithun-restrictsharesheld
N/AWhethertoptencommonstockshareholdersortoptencommonstockshareholderswithun-restrictsharesheldhaveabuy-backagreementdealinginreportingperiod
□Yes√No
Thetoptencommonstockshareholdersortoptencommonstockshareholderswithun-restrictsharesheldoftheCompanyhavenobuy-backagreementdealinginreportingperiod.
IV.Changesofcontrollingshareholdersoractualcontroller
Changesofcontrollingshareholdersinreportingperiod
□Applicable√Notapplicable
Changesofcontrollingshareholdershadnochangeinreportingperiod.Changesofactualcontrollerinreportingperiod
2019
□Applicable√Notapplicable
Changesofactualcontrollerinreportingperiodhadnochangeinreportingperiod.
2019
SectionVII.PreferredStock
□Applicable√Notapplicable
TheCompanyhadnopreferredstockinthePeriod.
2019
SectionVIII.ParticularsaboutDirectors,Supervisors,Senior
ExecutivesandEmployeesI.Changesofsharesheldbydirectors,supervisorsandseniorexecutives
□Applicable√Notapplicable
Nochangeofsharesheldbydirectors,supervisorsandseniorexecutives,foundmoredetailsinAnnualReport2018.II.Changesofdirectors,supervisorsandseniorexecutives
□Applicable√Notapplicable
Nochangesofdirectors,supervisorsandseniorexecutives,foundmoredetailsinAnnualReport2018.
2019
SectionIX.CorporateBond
WhethertheCompanyhasacorporationbondsthatissuancepubliclyandlistedonstockexchangeandwithoutdueonthedatewhensemi-annualreportapprovedforreleasedorfailtocashinfullondueNo
2019
SectionX.FinancialReportI.AuditreportWhetherthesemiannualreportisaudited
□Yes√No
Thecompany'ssemiannualfinancialreporthasnotbeenaudited.II.FinancialStatementExpressedinRenminbiunlessotherwisestated
1.Balancesheet
PreparedbyHAINANDADONGHAITourismCentre(HOLDINGS)CO.,LTD.
InRMBItem2019-6-302018-12-31Currentassets:
Monetaryfunds16,110,895.9515,364,355.30SettlementprovisionsCapitallentTransactionalfinancialassetsFinancialassetsmeasuredbyfairvalueandwithvariationreckonedintocurrentgains/losses
DerivativefinancialassetsNotereceivableAccountreceivable155,986.88426,434.87ReceivablefinancingAccountspaidinadvance396,882.60InsurancereceivableReinsurancereceivablesContractreserveofreinsurancereceivableOtheraccountreceivable1,242,181.64458,242.73Including:InterestreceivableDividendreceivableBuyingbackthesaleoffinancialassets
2019
Inventories191,693.57221,390.19ContractualassetsAssetsheldforsaleNon-currentassetduewithinoneyearOthercurrentassets2,125,619.161,846,219.79Totalcurrentassets20,223,259.8018,316,642.88Non-currentassets:
LoansandpaymentsonbehalfDebtinvestmentFinanceassetavailableforsalesOtherdebtinvestmentHeld-to-maturityinvestmentLong-termaccountreceivableLong-termequityinvestmentInvestmentinotherequityinstrumentOthernon-currentfinancialassetsInvestmentrealestate8,147,218.658,384,480.43Fixedassets34,997,520.1636,497,869.65ConstructioninprogressProductivebiologicalassetOilandgasassetRight-of-useassetsIntangibleassets21,799,055.4622,205,249.04ExpenseonResearchandDevelopmentGoodwillLong-termexpensestobeapportioned2,240,879.252,792,876.07DeferredincometaxassetOthernon-currentassetTotalnon-currentasset67,184,673.5269,880,475.19Totalassets87,407,933.3288,197,118.07Currentliabilities:
Short-termloansLoanfromcentralbankCapitalborrowed
2019
TransactionalfinancialliabilityFinancialliabilitymeasuredbyfairvalueandwithvariationreckonedintocurrentgains/losses
DerivativefinancialliabilityNotepayableAccountpayable1,077,017.431,607,835.81Accountsreceivedinadvance779,681.121,291,293.05SellingfinancialassetofrepurchaseAbsorbingdepositandinterbankdepositSecuritytradingofagencySecuritysalesofagencyWagepayable1,827,967.062,841,262.35Taxespayable745,943.66450,861.87Otheraccountpayable2,942,968.712,727,483.66Including:Interestpayable
DividendpayableCommissionchargeandcommissionpayableReinsurancepayable
ContractualliabilityLiabilityheldforsaleNon-currentliabilitiesduewithinoneyearOthercurrentliabilitiesTotalcurrentliabilities7,373,577.988,918,736.74Non-currentliabilities:
InsurancecontractreserveLong-termloansBondspayable
Including:Preferredstock
Perpetualcapitalsecurities
LeaseliabilityLong-termaccountpayableLong-termwagespayableAccrualliability1,489,685.041,489,685.04DeferredincomeDeferredincometaxliabilities
2019
Othernon-currentliabilitiesTotalnon-currentliabilities1,489,685.041,489,685.04Totalliabilities8,863,263.0210,408,421.78Owner’sequity:
Sharecapital364,100,000.00364,100,000.00
Otherequityinstrument
Including:Preferredstock
Perpetualcapitalsecurities
Capitalpublicreserve54,142,850.0154,142,850.01
Less:Inventoryshares
Othercomprehensiveincome
Reasonablereserve
Surpluspublicreserve
Provisionofgeneralrisk
Retainedprofit-339,698,179.71-340,454,153.72Totalowner’sequityattributabletoparentcompany78,544,670.3077,788,696.29
MinorityinterestsTotalowner’sequity78,544,670.3077,788,696.29Totalliabilitiesandowner’sequity87,407,933.3288,197,118.07LegalRepresentative:YuanXiaopingAccountingPrincipal:FuZongrenAccountingFirm’sPrincipal:FuZongren
2.Balancesheetofparentcompany
InRMBItem2019-6-302018-12-31Currentassets:
Monetaryfunds15,610,097.5914,864,055.73TransactionalfinancialassetsFinancialassetsmeasuredbyfairvalueandwithvariationreckonedintocurrentgains/losses
DerivativefinancialassetsNotereceivableAccountreceivable155,986.88426,434.87
2019
ReceivablefinancingAccountspaidinadvance396,882.60Otheraccountreceivable1,242,181.64458,242.73
Including:Interestreceivable
DividendreceivableInventories191,693.57221,390.19ContractualassetsAssetsheldforsaleNon-currentassetsmaturingwithinoneyearOthercurrentassets2,125,619.161,846,219.79Totalcurrentassets19,722,461.4417,816,343.31Non-currentassets:
DebtinvestmentAvailable-for-salefinancialassetsOtherdebtinvestmentHeld-to-maturityinvestmentsLong-termreceivablesLong-termequityinvestments1,000,000.001,000,000.00InvestmentinotherequityinstrumentOthernon-currentfinancialassetsInvestmentrealestate8,147,218.658,384,480.43Fixedassets34,997,520.1636,497,869.65ConstructioninprogressProductivebiologicalassetsOilandnaturalgasassetsRight-of-useassets
Intangibleassets21,799,055.4622,205,249.04ResearchanddevelopmentcostsGoodwillLong-termdeferredexpenses2,240,879.252,792,876.07DeferredincometaxassetsOthernon-currentassetsTotalnon-currentassets68,184,673.5270,880,475.19Totalassets87,907,134.9688,696,818.50
2019
Currentliabilities
Short-termborrowingsTransactionalfinancialliabilityFinancialliabilitymeasuredbyfairvalueandwithvariationreckonedintocurrentgains/lossesDerivativefinancialliabilityNotespayableAccountpayable1,077,017.431,607,835.81Accountsreceivedinadvance779,681.121,291,293.05ContractualliabilityWagepayable1,827,967.062,841,262.35Taxespayable745,943.66450,861.87Otheraccountspayable3,442,669.143,226,952.36Including:Interestpayable
DividendpayableLiabilityheldforsaleNon-currentliabilitiesduewithinoneyearOthercurrentliabilitiesTotalcurrentliabilities7,873,278.419,418,205.44Non-currentliabilities:
Long-termloansBondspayable
Including:preferredstock
PerpetualcapitalsecuritiesLeaseliabilityLong-termaccountpayableLongtermemployeecompensationpayableAccruedliabilities1,489,685.041,489,685.04DeferredincomeDeferredincometaxliabilitiesOthernon-currentliabilitiesTotalnon-currentliabilities1,489,685.041,489,685.04Totalliabilities9,362,963.4510,907,890.48Owners’equity:
2019
Sharecapital364,100,000.00364,100,000.00Otherequityinstrument
Including:preferredstock
PerpetualcapitalsecuritiesCapitalpublicreserve54,142,850.0154,142,850.01Less:InventorysharesOthercomprehensiveincomeSpecialreserveSurplusreserveRetainedprofit-339,698,678.50-340,453,921.99Totalowner’sequity78,544,171.5177,788,928.02Totalliabilitiesandowner’sequity87,907,134.9688,696,818.50
3.Consolidatedprofitstatement
InRMBItem
Semi-annualof
2019
Semi-annualof2018I.Totaloperatingincome14,241,961.0416,173,929.32
Including:Operatingincome14,241,961.0416,173,929.32InterestincomeInsurancegainedCommissionchargeandcommissionincomeII.Totaloperatingcost13,646,017.4914,891,558.76Including:Operatingcost5,514,477.936,000,063.36InterestexpenseCommissionchargeandcommissionexpenseCashsurrendervalueNetamountofexpenseofcompensationNetamountofwithdrawalofinsurancecontractreserveBonusexpenseofguaranteeslipReinsuranceexpenseTaxandextras383,479.50716,520.90Salesexpense2,809,991.942,800,956.10Administrativeexpense5,071,800.215,356,455.21
2019
R&DexpenseFinancialexpense-133,732.0917,563.19Including:Interestexpenses
Interestincome152,697.1222,729.87Add:otherincomeInvestmentincome(Lossislistedwith“-”)Including:InvestmentincomeonaffiliatedcompanyandjointventureTheterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost(Lossislistedwith“-”)
Exchangeincome(Lossislistedwith“-”)Netexposurehedgingincome(Lossislistedwith“-”)Incomefromchangeoffairvalue(Lossislistedwith“-”)Lossofcreditimpairment(Lossislistedwith“-”)Lossesofdevaluationofasset(Lossislistedwith“-”)Incomefromassetsdisposal(Lossislistedwith“-”)III.Operatingprofit(Lossislistedwith“-”)595,943.551,282,370.56Add:Non-operatingincome160,030.46273.00Less:Non-operatingexpense477.98IV.Totalprofit(Lossislistedwith“-”)755,974.011,282,165.58Less:IncometaxexpenseV.Netprofit(Netlossislistedwith“-”)755,974.011,282,165.58(i)Classifybybusinesscontinuity
1.continuousoperatingnetprofit(netlosslistedwith‘-”)755,974.011,282,165.58
2.terminationofnetprofit(netlosslistedwith‘-”)
(ii)Classifybyownership
1.Netprofitattributabletoowner’sofparentcompany755,974.011,282,165.58
2.Minorityshareholders’gainsandlosses
VI.Netafter-taxofothercomprehensiveincomeNetafter-taxofothercomprehensiveincomeattributabletoownersofparentcompany(I)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss
1.Changesofthedefinedbenefitplansthatre-measured
2.Othercomprehensiveincomeunderequitymethodthatcannotbe
transfertogain/loss
2019
3.Changeoffairvalueofinvestmentinotherequityinstrument
4.Fairvaluechangeofenterprise'screditrisk
5.Other
(ii)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss
1.Othercomprehensiveincomeunderequitymethodthatcantransfer
togain/loss
2.Changeoffairvalueofotherdebtinvestment
3.gain/lossoffairvaluechangesforavailable-for-salefinancialassets
4.Amountoffinancialassetsre-classifytoothercomprehensive
income
5.Gain/lossofheld-to-maturityinvestmentsthatre-classifyto
available-for-salefinancialasset
6.Creditimpairmentprovisionforotherdebtinvestment
7.Cashflowhedgingreserve
8.Translationdifferencesarisingontranslationofforeigncurrency
financialstatements
9.Other
Netafter-taxofothercomprehensiveincomeattributabletominorityshareholdersVII.Totalcomprehensiveincome755,974.011,282,165.58TotalcomprehensiveincomeattributabletoownersofparentCompany755,974.011,282,165.58TotalcomprehensiveincomeattributabletominorityshareholdersVIII.Earningspershare:
(i)Basicearningspershare0.00210.0035(ii)Dilutedearningspershare0.00210.0035Asfortheenterprisecombinationunderthesamecontrol,thenetprofitachievedbythecombinedpartybeforeconsolidationwas0Yuanintheperiodwhile0YuanachievedlastperiodLegalRepresentative:YuanXiaopingAccountingPrincipal:FuZongrenAccountingFirm’sPrincipal:FuZongren
4.ProfitstatementofparentCompany
InRMBItem
Semi-annualof2019
Semi-annualof2018
2019
I.Operatingincome14,241,961.0416,173,929.32
Less:Operatingcost13,645,516.2814,891,558.76Taxesandsurcharge383,479.50716,520.90Salesexpenses2,809,991.942,800,956.10Administrationexpenses5,071,800.215,356,455.21R&DexpensesFinancialexpenses-133,233.3017,563.19Including:interestexpensesInterestincome151,938.3322,729.87Add:otherincomeInvestmentincome(Lossislistedwith“-”)Including:InvestmentincomeonaffiliatedCompanyandjointventureTheterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost(Lossislistedwith“-”)
Netexposurehedgingincome(Lossislistedwith“-”)Changingincomeoffairvalue(Lossislistedwith“-”)Lossofcreditimpairment(Lossislistedwith“-”)Lossesofdevaluationofasset(Lossislistedwith“-”)Incomeondisposalofassets(Lossislistedwith“-”)II.Operatingprofit(Lossislistedwith“-”)595,444.761,282,370.56Add:Non-operatingincome160,030.46273.00Less:Non-operatingexpense477.98III.TotalProfit(Lossislistedwith“-”)755,475.221,282,165.58Less:IncometaxIV.Netprofit(Netlossislistedwith“-”)755,475.221,282,165.58(i)continuousoperatingnetprofit(netlosslistedwith‘-”)755,475.221,282,165.58(ii)terminationofnetprofit(netlosslistedwith‘-”)V.Netafter-taxofothercomprehensiveincome
(I)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss
1.Changesofthedefinedbenefitplansthatre-measured
2.Othercomprehensiveincomeunderequitymethodthatcannotbe
transfertogain/loss
3.Changeoffairvalueofinvestmentinotherequityinstrument
4.Fairvaluechangeofenterprise'screditrisk
2019
5.Other
(II)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss
1.Othercomprehensiveincomeunderequitymethodthatcantransfer
togain/loss
2.Changeoffairvalueofotherdebtinvestment
3.gain/lossoffairvaluechangesforavailable-for-salefinancialassets
4.Amountoffinancialassetsre-classifytoothercomprehensive
income
5.Gain/lossofheld-to-maturityinvestmentsthatre-classifyto
available-for-salefinancialasset
6.Creditimpairmentprovisionforotherdebtinvestment
7.Cashflowhedgingreserve
8.Translationdifferencesarisingontranslationofforeigncurrency
financialstatements
9.Other
VI.Totalcomprehensiveincome755,475.221,282,165.58VII.Earningspershare:
(i)Basicearningspershare0.00210.0035(ii)Dilutedearningspershare0.00210.0035
5.Consolidatedcashflowstatement
InRMBItem
Semi-annualof
2019
Semi-annualof
2018I.Cashflowsarisingfromoperatingactivities:
Cashreceivedfromsellingcommoditiesandprovidinglaborservices14,988,120.2517,460,137.72Netincreaseofcustomerdepositandinterbankdeposit
NetincreaseofloanfromcentralbankNetincreaseofcapitalborrowedfromotherfinancialinstitutionCashreceivedfromoriginalinsurancecontractfeeNetcashreceivedfromreinsurancebusinessNetincreaseofinsuredsavingsandinvestmentCashreceivedfrominterest,commissionchargeandcommissionNetincreaseofcapitalborrowed
2019
NetincreaseofreturnedbusinesscapitalNetcashreceivedbyagentsinsaleandpurchaseofsecuritiesWrite-backoftaxreceivedOthercashreceivedconcerningoperatingactivities1,105,441.88684,152.64Subtotalofcashinflowarisingfromoperatingactivities16,093,562.1318,144,290.36
Cashpaidforpurchasingcommoditiesandreceivinglaborservice4,468,726.475,026,699.13NetincreaseofcustomerloansandadvancesNetincreaseofdepositsincentralbankandinterbankCashpaidfororiginalinsurancecontractcompensationNetincreaseoffinancialassetsheldfortransactionpurposesNetincreaseofcapitallentCashpaidforinterest,commissionchargeandcommissionCashpaidforbonusofguaranteeslipCashpaidto/forstaffandworkers6,921,639.626,741,602.32Taxespaid1,139,283.591,590,739.15Othercashpaidconcerningoperatingactivities2,294,495.801,674,572.16Subtotalofcashoutflowarisingfromoperatingactivities14,824,145.4815,033,612.76Netcashflowsarisingfromoperatingactivities1,269,416.653,110,677.60II.Cashflowsarisingfrominvestingactivities:
CashreceivedfromrecoveringinvestmentCashreceivedfrominvestmentincomeNetcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets68,670.00NetcashreceivedfromdisposalofsubsidiariesandotherunitsOthercashreceivedconcerninginvestingactivitiesSubtotalofcashinflowfrominvestingactivities68,670.00Cashpaidforpurchasingfixed,intangibleandotherlong-termassets591,546.001,040,626.12CashpaidforinvestmentNetincreaseofmortgagedloansNetcashreceivedfromsubsidiariesandotherunitsobtainedOthercashpaidconcerninginvestingactivitiesSubtotalofcashoutflowfrominvestingactivities591,546.001,040,626.12Netcashflowsarisingfrominvestingactivities-522,876.00-1,040,626.12III.CashflowsarisingfromfinancingactivitiesCashreceivedfromabsorbinginvestment
2019
Including:Cashreceivedfromabsorbingminorityshareholders’investmentbysubsidiariesCashreceivedfromloansCashreceivedfromissuingbondsOthercashreceivedconcerningfinancingactivitiesSubtotalofcashinflowfromfinancingactivitiesCashpaidforsettlingdebtsCashpaidfordividendandprofitdistributingorinterestpayingIncluding:DividendandprofitofminorityshareholderpaidbysubsidiariesOthercashpaidconcerningfinancingactivitiesSubtotalofcashoutflowfromfinancingactivitiesNetcashflowsarisingfromfinancingactivitiesIV.InfluenceoncashandcashequivalentsduetofluctuationinexchangerateV.Netincreaseofcashandcashequivalents746,540.652,070,051.48Add:Balanceofcashandcashequivalentsattheperiod-begin15,364,355.309,681,607.16VI.Balanceofcashandcashequivalentsattheperiod-end16,110,895.9511,751,658.64
6.CashflowstatementofparentCompany
InRMBItem
Semi-annualof
2019
Semi-annualof
2018I.Cashflowsarisingfromoperatingactivities:
Cashreceivedfromsellingcommoditiesandprovidinglaborservices14,988,120.2517,460,137.72Write-backoftaxreceivedOthercashreceivedconcerningoperatingactivities1,104,683.09684,152.64Subtotalofcashinflowarisingfromoperatingactivities16,092,803.3418,144,290.36Cashpaidforpurchasingcommoditiesandreceivinglaborservice4,468,726.475,026,699.13Cashpaidto/forstaffandworkers6,921,639.626,741,602.32Taxespaid1,139,261.991,590,739.15Othercashpaidconcerningoperatingactivities2,294,257.401,674,572.16Subtotalofcashoutflowarisingfromoperatingactivities14,823,885.4815,033,612.76Netcashflowsarisingfromoperatingactivities1,268,917.863,110,677.60II.Cashflowsarisingfrominvestingactivities:
Cashreceivedfromrecoveringinvestment
2019
CashreceivedfrominvestmentincomeNetcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets68,670.00NetcashreceivedfromdisposalofsubsidiariesandotherunitsOthercashreceivedconcerninginvestingactivitiesSubtotalofcashinflowfrominvestingactivities68,670.00Cashpaidforpurchasingfixed,intangibleandotherlong-termassets591,546.001,040,626.12Cashpaidforinvestment1,000,000.00NetcashreceivedfromsubsidiariesandotherunitsobtainedOthercashpaidconcerninginvestingactivitiesSubtotalofcashoutflowfrominvestingactivities591,546.002,040,626.12Netcashflowsarisingfrominvestingactivities-522,876.00-2,040,626.12III.CashflowsarisingfromfinancingactivitiesCashreceivedfromabsorbinginvestmentCashreceivedfromloansCashreceivedfromissuingbondsOthercashreceivedconcerningfinancingactivitiesSubtotalofcashinflowfromfinancingactivitiesCashpaidforsettlingdebtsCashpaidfordividendandprofitdistributingorinterestpayingOthercashpaidconcerningfinancingactivitiesSubtotalofcashoutflowfromfinancingactivitiesNetcashflowsarisingfromfinancingactivitiesIV.InfluenceoncashandcashequivalentsduetofluctuationinexchangerateV.Netincreaseofcashandcashequivalents746,041.861,070,051.48Add:Balanceofcashandcashequivalentsattheperiod-begin14,864,055.739,681,607.16VI.Balanceofcashandcashequivalentsattheperiod-end15,610,097.5910,751,658.64
7.Consolidatechangeofowners’equity
Currentperiod
InRMB
Item
Semi-annualof2019Owners’equityattributabletotheparentCompany
Minorityinterests
Totalowners’equitySharecapital
Otherequityinstru
Capitalreserve
LeOtReSuPrRetainedprofit
othSubtotal
2019
mentss:
Inventoryshares
herco
prehensiveinco
mm
e
asonablereserve
rplusreserve
ovisionofgeneralrisk
er
Preferredstock
Perpetualcapitalsecurities
Other
I.Balanceattheendofthelastyear
364,100,000.0054,142,850.01-340,454,153.7277,788,696.2977,788,696.29Add:Changesofaccountingpolicy
Errorcorrectionofthelastperiod
EnterprisecombineunderthesamecontrolOtherII.Balanceatthebeginningofthisyear
364,100,000.0054,142,850.01-340,454,153.7277,788,696.2977,788,696.29III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”)
755,974.01755,974.01755,974.01(i)Totalcomprehensiveincome
755,974.01755,974.01755,974.01(ii)Owners’devotedanddecreasedcapital
1.Commonshares
investedbyshareholders
2019
2.Capitalinvestedby
holdersofotherequityinstruments
3.Amountreckonedinto
ownersequitywithshare-basedpayment
4.Other
(III)Profitdistribution
1.Withdrawalofsurplus
reserves
2.Withdrawalofgeneral
riskprovisions
3.Distributionfor
owners(orshareholders)
4.Other
(IV)Carryingforwardinternalowners’equity
1.Capitalreserves
conversedtocapital(sharecapital)
2.Surplusreserves
conversedtocapital(sharecapital)
3.Remedyinglosswith
surplusreserve4Carry-overretainedearningsfromthedefinedbenefitplans5Carry-overretainedearningsfromothercomprehensiveincome
6.Other
(V)Reasonablereserve
1.Withdrawalinthe
reportperiod
2.Usageinthereport
period(VI)OthersIV.Balanceattheendofthereportperiod
364,100,000.0054,142,850.01-339,698,179.7178,544,670.3078,544,670.30LastPeriod
InRMB
Item
Semi-annualof2018
Owners’equityattributabletotheparentCompany
MinorityinteTotalowners’equity
2019
rests
Sharecapital
Otherequityinstrument
Capitalpublicreserve
Less:
Inventoryshares
Otherco
prehensiveinco
mm
e
Reasonablereserve
Surplusreserve
Provisionofgeneralrisk
Retainedprofit
otherSubtotal
Preferredstock
Perpetualcapitalsecurities
Other
I.Balanceattheendofthelastyear
364,100,000.0054,142,850.01-341,107,435.9177,135,414.1077,135,414.10Add:Changesofaccountingpolicy
Errorcorrectionofthelastperiod
Enterprisecombineunderthesamecontrol
OtherII.Balanceatthebeginningofthisyear
364,100,000.0054,142,850.01-341,107,435.9177,135,414.1077,135,414.10III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”)
1,282,165.581,282,165.581,282,165.58
2019
(i)Totalcomprehensiveincome
1,282,165.581,282,165.581,282,165.58
(ii)Owners’devotedanddecreasedcapital
1.Commonshares
investedbyshareholders
2.Capitalinvestedby
holdersofotherequityinstruments
3.Amountreckoned
intoownersequitywithshare-basedpayment
4.Other
(III)Profitdistribution
1.Withdrawalof
surplusreserves
2.Withdrawalof
generalriskprovisions
3.Distributionfor
owners(orshareholders)
4.Other
(IV)Carryingforwardinternalowners’equity
1.Capitalreserves
conversedtocapital(sharecapital)
2.Surplusreserves
conversedtocapital(sharecapital)
3.Remedyingloss
withsurplusreserve4Carry-overretainedearningsfromthedefinedbenefitplans5Carry-overretainedearningsfromothercomprehensiveincome
6.Other
(V)Reasonablereserve
1.Withdrawalinthe
reportperiod
2.Usageinthereport
period(VI)OthersIV.Balanceattheend364,100,000.0054,142,850.01-339,825,270.3378,417,579.6878,417,579.68
2019
ofthereportperiod
8.Changeofowners’equityofparentcompany
Currentperiod
InRMB
Item
Semi-annualof2019
Sharecapital
Otherequityinstrument
Capitalpublicreserve
Less:
Inventoryshares
Otherco
prehensiveinco
mm
e
Reasonablereserve
Surplusreserve
Retainedprofit
OtherTotalowners’equity
Preferredstock
Perpetualcapitalsecurities
Other
I.Balanceattheendofthelastyear364,100,000.0054,142,850.01-340,454,153.7277,788,696.29Add:Changesofaccountingpolicy
ErrorcorrectionofthelastperiodOtherII.Balanceatthebeginningofthisyear364,100,000.0054,142,850.01-340,454,153.7277,788,696.29III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”)
755,475.22755,475.22(i)Totalcomprehensiveincome755,475.22755,475.22(ii)Owners’devotedanddecreasedcapital
1.Commonsharesinvestedbyshareholders
2.Capitalinvestedbyholdersofotherequity
instruments
2019
3.Amountreckonedintoownersequitywith
share-basedpayment
4.Other
(III)Profitdistribution
1.Withdrawalofsurplusreserves
2.Distributionforowners(orshareholders)
3.Other
(IV)Carryingforwardinternalowners’equity
1.Capitalreservesconversedtocapital(share
capital)
2.Surplusreservesconversedtocapital(share
capital)
3.Remedyinglosswithsurplusreserve
4Carry-overretainedearningsfromthedefinedbenefitplans5Carry-overretainedearningsfromothercomprehensiveincome
6.Other
(V)Reasonablereserve
1.Withdrawalinthereportperiod
2.Usageinthereportperiod
(VI)OthersIV.Balanceattheendofthereportperiod364,100,000.0054,142,850.01-339,698,678.5078,544,171.51Lastperiod
InRMB
Item
Semi-annualof2018
Sharecapital
Otherequityinstrument
Capitalreserve
Less:
Inventoryshares
Otherco
prehensiveinco
Reasonablereserve
Surplusreserve
Provisionofgeneralrisk
Other
Totalowners’equity
Preferredstock
Perpetualcapitalse
Other
2019
ecuritiesI.Balanceattheendofthelastyear364,100,000.0054,142,850.01-341,107,435.9177,135,414.10Add:Changesofaccountingpolicy
ErrorcorrectionofthelastperiodOtherII.Balanceatthebeginningofthisyear364,100,000.0054,142,850.01-341,107,435.9177,135,414.10III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”)
1,282,165.581,282,165.58(i)Totalcomprehensiveincome1,282,165.581,282,165.58(ii)Owners’devotedanddecreasedcapital
1.Commonsharesinvestedbyshareholders
2.Capitalinvestedbyholdersofotherequity
instruments
3.Amountreckonedintoownersequitywith
share-basedpayment
4.Other
(III)Profitdistribution
1.Withdrawalofsurplusreserves
2.Distributionforowners(orshareholders)
3.Other
(IV)Carryingforwardinternalowners’equity
1.Capitalreservesconversedtocapital(share
capital)
2.Surplusreservesconversedtocapital(share
capital)
3.Remedyinglosswithsurplusreserve
4Carry-overretainedearningsfromthedefinedbenefitplans5Carry-overretainedearningsfromothercomprehensiveincome
6.Other
(V)Reasonablereserve
1.Withdrawalinthereportperiod
2.Usageinthereportperiod
(VI)OthersIV.Balanceattheendofthereportperiod364,100,000.0054,142,850.01-339,825,270.3378,417,579.68
III.Companyprofile
1.Overview
2019
HainanDadonghaiTourismCentre(Holdings)Co.,Ltd.(hereinafterreferredtoasthe"Company")isastandardizedcompanylimitedbysharesestablishedonApril26,1993andrestructuredfromHainanSanyaDadonghaiTourismCentreDevelopmentCo.,Ltd.withtheapprovalofHainanShareholdingSystemPilotGroupofficeviaitsDocumentQiongGuBanZi[1993]No.11.OnMay6,1996,theCompanywasreorganizedandseparatedwiththereplyofHainanSecuritiesManagementOfficebyitsDocumentQiongZhengBan[1996]No.58.OnOctober8,1996andJanuary28,1997,theCompanywasapprovedtorespectivelyissue80millionBsharesand14millionAsharesonShenzhenStockExchangeandlistforsales.OnJune20,2007,theCompanycarriedoutthesplitsharestructurereform.Thenon-tradableshareholdersoftheCompanypaidsharestothetradableshareholdersforobtainingthecirculationrights,andthetradableshareholdersgot3sharesforevery10shares.TheCompanybelongstotourismandcateringserviceindustry.AsatJune30,2019,theCompany'saccumulativetotalissuedcapitalwas364.1millionsharesandtheCompany'sregisteredcapitalwasRMB364.1million.Legalrepresentative:YuanXiaoping.Unifiedsocialcreditcode:91460000201357188U.Domicile:Dadonghai,HedongDistrict,Sanya.Businessscope:
Accommodationandcateringindustry(limitedtobranches);photography;flowerbonsai,knitwear,generalmerchandise,hardwareandelectricalequipment,chemicalproducts(exceptfranchisedoperations),dailynecessities,industrialmeansofproduction(exceptfranchisedoperations),metalmaterials,machineryequipment;salesoftrain,busandvehicleticketsonanagentbasis,etc.TheCompany'slargestshareholderisLuoniushanCo.,Ltd.ThefinancialstatementswereapprovedbyalldirectorsoftheCompanyfordisclosureonAugust8,2019.
2.Scopetotheconsolidatedfinancialstatements
Scopeoftheconsolidatedfinancialstatementfortheperiodhasnochangesandasat30June2019,thesubsidiaryincludedintotheCompany'sscopeofconsolidatedfinancialstatementsisasfollows:
NameRelationshipwiththeCompanyHainanWengaoTouristResourcesDevelopmentCo.,Ltd.Awholly-ownedsubsidiaryIV.Basicforthepreparationofthefinancialstatements
1.Preparationbasis
Basedongoingconcernandaccordingtoactuallyoccurredtransactionsandevents,theCompanypreparedfinancialstatementsinaccordancewiththeAccountingStandardsforBusinessEnterprises—BasicStandardsandthespecificaccountingstandards,theAccountingStandardsforBusinessEnterprises-ApplicationGuidance,theAccountingStandardsforBusinessEnterprises-Interpretationandotherrelevantprovisions,issuedbytheMinistryofFinance,(hereinafterreferredtocollectivelyasthe"AccountingStandardsforBusinessEnterprises"),aswellasthedisclosureprovisionsoftheRulesfortheCompilation
2019
andSubmissionofInformationDisclosurebyCompaniesOfferingSecuritiestothePublicNo.15-GeneralRequirementsforFinancialReports(Revisedin2014).
2.Goingconcern
TheCompanycurrentlyhassufficientworkingcapitalandnormaloperatingconditions.ItisestimatedthattheoperatingactivitiesoftheCompanywillstillcontinueinthenext12months.V.SignificantaccountingpoliciesandaccountingestimatesSpecificaccountingpoliciesandestimationattention:
ThemainaccountingpoliciesandaccountingestimatesoftheCompanyhadnochange.
1.StatementoncompliancewiththeAccountingStandardsforBusinessEnterprisesThefinancialstatementspreparedbytheCompanycomplywiththerequirementsoftheAccountingStandardsforBusinessEnterprises,andtrulyandcompletelypresentthefinancialposition,operatingresults,cashflowsoftheCompanyandotherrelatedinformation.
2.Accountingperiod
TheaccountingyearisfromJanuary1toDecember31incalendaryear.
3.Operatingcycle
TheCompany'soperatingcycleis12months.
4.Reportingcurrency
TheCompanyadoptsRMBasitsreportingcurrency.
5.AccountingTreatmentMethodforBusinessCombinations(underthesame/differentcontrol)
Businesscombinationundercommoncontrol:TheassetsandliabilitiesacquiredbytheCompanyinbusinesscombinationsaremeasuredatbookvaluesofassetsandliabilitiesofthecombinee(includingthegoodwillarisingfromtheacquisitionofthecombineebytheultimatecontroller)intheconsolidatedfinancialstatementsoftheultimatecontrolleronthecombinationdate.Thestockpremiuminthecapitalreservesisadjustedaccordingtothedifferencebetweenthebookvalueofthenetassetsacquiredinbusinesscombinationandthebookvalueoftheconsiderationpaidforthecombination(ortotalparvalueofsharesissued).Ifthereisnosufficientstockpremiuminthecapitalreservesforwrite-downs,theretainedearningsshallbeadjusted.Businesscombinationnotundercommoncontrol:TheCompanyshall,ontheacquisitiondate,measurethe
2019
assetssurrenderedandliabilitiesincurredorassumedbytheCompanyforabusinesscombinationattheirfairvalues.Thedifferencebetweenthefairvalueandtheirbookvalueshallbeincludedinthecurrentprofitorloss.TheCompanyshallrecognizethedifferenceofthecombinationcostsinexcessofthefairvalueoftheidentifiablenetassetsacquiredfromtheacquireeasgoodwill.TheCompanyshallrecognizethedifferenceofthecombinationcostsinshortofthefairvalueoftheidentifiablenetassetsacquiredfromtheacquireeinthecurrentprofitorlossafterreview.Theauditing,legalservices,consultingandotherintermediaryservicefeesaswellasotherrelevantdirectexpensesforbusinesscombinationwillbeincludedinthecurrentprofitorlossatoccurrence;thetransactioncostsfortheissueofequitysecuritiesshallbeusedtowritedownequities.
6.Preparationmethodsofconsolidatedfinancialstatements
1)Scopeofconsolidation
ThescopeofconsolidatedfinancialstatementsoftheCompanyisdeterminedonthebasisofcontrol,andallitssubsidiaries(includingtheinvestee'spartiblepartthatisundercontroloftheCompany)shallbeincludedintheconsolidatedfinancialstatements.
2)Proceduresofconsolidation
TheCompanypreparestheconsolidatedfinancialstatementsbasedonfinancialstatementsofitselfanditssubsidiariesandaccordingtootherrelevantinformation.Uponpreparationofconsolidatedfinancialstatements,theCompanyshalldeemthewholegroupasawholeaccountingentity,andreflectstheoverallfinancialposition,operatingresultsandcashflowsofthegroupinaccordancewithrelevantrequirementsforrecognition,measurementandpresentationasstatedintheAccountingStandardsforBusinessEnterprisesaswellasuniformaccountingpolicies.AllthesubsidiarieswithintheconsolidationscopeofconsolidatedfinancialstatementsshalladoptthesameaccountingpoliciesandaccountingperiodsasthoseoftheCompany.IftheaccountingpoliciesoraccountingperiodsofasubsidiaryaredifferentfromthoseoftheCompany,theconsolidatedfinancialstatementsofthesubsidiary,uponpreparationofconsolidatedfinancialstatements,shallbeadjustedaccordingtotheaccountingpoliciesandaccountingperiodsoftheCompany.Forthesubsidiariesacquiredthroughbusinesscombinationnotunderthesamecontrol,adjustmentstotheirfinancialstatementsshallbemadebasedonthefairvaluesofnetidentifiableassetsontheacquisitiondate.Forasubsidiaryacquiredthroughbusinesscombinationundercommoncontrol,adjustmenttoitsfinancialstatementsshallbemadebasedonthebookvaluesofitsassetsandliabilities(includinggoodwillformedintheacquisitionofthesubsidiarybyitsultimatecontroller)aspresentedinthefinancialstatementsoftheultimatecontroller.
2019
Theshareofowners'equity,currentnetprofitsandlosses,andcurrentcomprehensiveincomeofsubsidiariesattributabletominorityownersshallberespectivelyandseparatelylistedundertheowner'sequityitemofaconsolidatedbalancesheet,thenetprofititemofaconsolidatedincomestatement,andthetotalcomprehensiveincomeinaconsolidatedincomestatement.Wherethecurrentlossessharedbyaminorityshareholderofasubsidiaryexceedsthebalancesarisingfromthesharesenjoyedbytheminorityshareholderintheowners'equityofthesubsidiaryatthebeginningoftheperiod,minorityequityshallbewrittendownaccordingly.
(1)Increaseofsubsidiariesorbusiness
Duringthereportingperiod,iftheCompanyacquiredsubsidiariesorbusinessfromthebusinesscombinationundercommoncontrol,thebeginningbalanceintheconsolidatedstatementoffinancialpositionshallbeadjusted;therevenue,expensesandprofitsofthenewlyacquiredsubsidiariesorbusinessfromthebeginningtotheendofthereportingperiodshallbeincludedintotheconsolidatedincomestatement;thecashflowsofthenewlyacquiredsubsidiariesorbusinessfromthebeginningtotheendofthereportingperiodshallbeincludedintheconsolidatedstatementofcashflow.Relevantitemsinthecomparativefinancialstatementsofthesubsidiariesshallbeadjustedaccordingly,asifthereportingentityafterthebusinesscombinationexistsatthetimewhentheultimatecontrollerhasthecontrolpower.Wherecontrolcanbeexercisedontheinvesteeunderthecommoncontrolforadditionalinvestmentorotherreasons,adjustmentwillbemadeasifallpartiesinvolvedinthecombinationexistatthebeginningofthecontrolbytheultimatecontroller.Equityinvestmentsheldbeforethecontroloverthecombinedpartyisobtained,therelatedgainsandlosses,othercomprehensiveincomeaswellasotherchangesinnetassetsrecognizedfromthelaterofthedatewhentheoriginalequityisobtainedorthedatewhentheacquirerandtheacquireeareunderthesamecontrol,tothecombinationdatewillrespectivelywritedowntheretainedearningsorcurrentprofitorlossinthecomparativestatements.Duringthereportingperiod,iftheCompanyincreasedsubsidiariesorbusinessfrombusinesscombinationsnotundercommoncontrol,thebeginningbalanceintheconsolidatedbalancesheetshallnotbeadjusted;therevenue,expensesandprofitsofthesubsidiariesorbusinessfromtheacquisitiondatetotheendofthereportingperiodshallbeincludedintheconsolidatedincomestatement;cashflowsofthesubsidiariesandbusinessfromtheacquisitiondatetotheendofthereportingperiodshallbeincludedintheconsolidatedstatementofcashflows.WheretheCompanycancontroltheinvesteenotundercommoncontrolfromadditionalinvestments,itshallre-measureequityoftheacquireeheldbeforetheacquisitiondateatthefairvalueofsuchequityonthe
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acquisitiondateandincludethedifferenceofthefairvalueandbookvalueintheinvestmentincomeintheyear.Whereequityoftheacquireeheldbeforetheacquisitiondateinvolvesinothercomprehensiveincomeaccountedforunderequitymethodandotherchangesinowners'equityotherthannetprofitsorlosses,othercomprehensiveincomeandprofitdistribution,therelevantothercomprehensiveincomeandotherchangesinowners'equityshallbetransferredtoinvestmentincomeintheyearwhichtheacquisitiondatefallsin,exceptforothercomprehensiveincomefromchangesarisingfromre-measurementofnetliabilitiesornetassetsofdefinedbenefitplanbytheinvestee.
(2)Disposalofsubsidiariesorbusiness
GeneralmethodoftreatmentDuringthereportingperiod,wheretheCompanydisposesofanysubsidiaryorbusiness,therevenues,expensesandprofitsofthesubsidiaryorbusinessfromthebeginningperiodtothedisposaldateshallbeincludedintheconsolidatedincomestatement;cashflowsofthesubsidiaryorbusinessfromthebeginningperiodtothedisposaldateshallbeincludedintheconsolidatedstatementofcashflows.WhentheCompanylosesthecontrolovertheinvesteeduetodisposalofpartialequityinvestmentorotherreasons,theremainingequityinvestmentafterthedisposalwillbere-measuredbytheCompanyatitsfairvalueonthedateoflossofthecontrol.Thedifferenceofthesumoftheconsiderationacquiredfromdisposalofequitiesandthefairvalueoftheremainingequitieslessthesumofthesharecalculatedattheoriginalshareholdingratioinnetassetsoftheoriginalsubsidiarywhicharecontinuouslycalculatedasoftheacquisitiondateorthecombinationdateandgoodwillshallbeincludedintheinvestmentincomeoftheperiodinwhichthecontrolislost.Othercomprehensiveincomesassociatedwiththeequityinvestmentsoftheoriginalsubsidiary,orthechangesinowners'equityotherthannetprofitorloss,othercomprehensiveincomeandprofitdistribution,aretransferredintoinvestmentincomeoftheperiodwhenthecontrolislost,exceptforothercomprehensiveincomefromthechangeinnetliabilityornetassetduetotheinvestor'sre-measurementofdefinedbenefitplan.WheretheCompanylosesthecontrolofanysubsidiaryduetothedeclineinitsshareholdingratiointhesubsidiary,causedbytheincreaseofinvestmentinthesubsidiarybyotherinvestors,theaccountingtreatmentshallbeconductedaccordingtotheaboveprinciples.DisposalofsubsidiariesbystagesIfthecontrolislostduetodisposaloftheequitiesinsubsidiariesthroughmultipletransactionsbystages,andtheterms,conditionsandeconomicimpactofthetransactionsrelatedtotheenterprise'sdisposalofitsinvestmentinthesubsidiariesmeetoneormoreofthefollowingcircumstances,itusuallyindicatesthatmultipletransactionsshouldbeincludedinapackagedealandsubjecttoaccountingprocessingasbelow:
i.Thesetransactionsareconcludedatthesametimeorundertheconsiderationofmutualeffect;
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ii.Thesetransactionsasawholecanreachacompletebusinessresult;iii.Theoccurrenceofatransactiondependsontheoccurrenceofatleastoneothertransaction;iv.Asingletransactionisuneconomicalbutiseconomicalwhenconsideredtogetherwithothertransactions.Wherevarioustransactionsofdisposalofequityinvestmentsinsubsidiariesuntillossofthecontrolbelongtoapackagedeal,accountingtreatmentshallbemadebytheCompanyonthetransactionsasatransactiontodisposesubsidiariesandlosethecontrol;however,thedifferencebetweeneachdisposalcostandnetassetshareinthesubsidiariescorrespondingtoeachdisposalofinvestmentsbeforelossofthecontrolshouldberecognizedasothercomprehensiveincomeintheconsolidatedfinancialstatementsandshouldbetransferredintothecurrentprofitorlossatthelossofthecontrol.Wherevarioustransactionsofdisposalofequityinvestmentsinsubsidiariesuntillossofthecontroldonotbelongtoapackagedeal,beforethelossofthecontrol,accountingtreatmentshallbemadeaccordingtotherelevantpoliciesforpartialdisposalofequityinvestmentsinthesubsidiarywithoutlosingcontrol;atthelossofthecontrol,accountingtreatmentshallbemadeaccordingtogeneraltreatmentmethodsfordisposalofsubsidiaries.
(3)Purchaseofminorityinterestofsubsidiaries
Thesharepremiuminthecapitalreservesundertheconsolidatedbalancesheetwillbeadjustedatthedifferencebetweenthelong-termequityinvestmentacquiredbytheCompanyforthepurchaseofminorityinterestandtheshareofnetassetscalculatedconstantlyfromtheacquisitiondate(orcombinationdate)accordingtothenewlyincreasedshareholdingratio.Wherethesharepremiumisinsufficienttooffset,retainedearningswillbeadjusted.
(4)PartialdisposalofequityinvestmentsinsubsidiarieswithoutlosingcontrolThesharepremiuminthecapitalreservesundertheconsolidatedbalancesheetwillbeadjustedatthedifferencebetweentheproceedsachievedfromthepartialdisposaloflong-termequityinvestmentsinsubsidiariesandtheshareofnetassetsofsubsidiariesattributabletotheCompanycorrespondingtothedisposaloflong-termequityinvestmentsandcalculatedconstantlyfromtheacquisitiondateorcombinationdate,withoutlosingthecontrol.Wherethesharepremiumisinsufficienttowritedown,theretainedearningswillbeadjusted.
7.ClassificationandaccountingtreatmentofjointventurearrangementsJointventurearrangementsareclassifiedintojointoperationandjointventure.JointoperationrefersthejointventurearrangementwheretheCompanyisajointventurerandenjoysassetsrelevantthejointventurearrangementandassumesliabilitiesrelevanttothesame.
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TheCompanyrecognizesthefollowingitemsrelatedtoitsshareofbenefitsinthejointoperationandconductaccountingtreatmentinaccordancewithrelevantaccountingstandardsforbusinessenterprises:
(1)assetspeculiartotheCompanyandassetsjointlyownedbytheCompanybasedonsharesheld;
(2)liabilitiesundertakenbytheCompanysolelyandliabilitiesjointlyundertakenbytheCompanybasedonsharesheld;
(3)revenuefromthesalesofoutputshareenjoyedbytheCompanyinthejointoperation;
(4)revenuefromthesalesofthejointoperationoutputbasedonthesharesheldbytheCompany;and
(5)separatecosts,andcostsforthejointoperationbasedonthesharesheldbytheCompany.
8.Recognitioncriteriaofcashandcashequivalents
Forthepurposeofpreparingthestatementofcashflows,theterm“cash”referstothecashonhandandtheunrestricteddepositoftheCompany.Theterm“cashequivalents”referstoshort-term(maturingwithinthreemonthsfromacquisition)andhighlyliquidinvestmentsthatarereadilyconvertibletoknownamountsofcashandwhicharesubjecttoaninsignificantriskofchangeinvalue.
9.ForeigncurrencybusinessandforeigncurrencystatementconversionForeigncurrencytransactionswillbetranslatedatthespotexchangerateonthetransactiondateandbeaccountedforatRMB.Thebalanceofforeigncurrencymonetaryitemsaretranslatedatthespotexchangerateonthebalancesheetdateandtheexchangedifferencesarisingtherefromshallbeincludedinthecurrentprofitandloss,exceptthoseexchangedifferencesarisingfromthespecialborrowingsofforeigncurrencyrelatedtotheacquiredandconstructedassetsqualifiedforcapitalizationthatwillbecapitalizedattheborrowingexpenses.Foreigncurrencynon-monetaryitemsmeasuredathistoricalcostsshallstillbeconvertedatthespotexchangerateswhenthetransactionsoccur,withoutchangingthefunctionalcurrencyamount.Foreigncurrencynon-monetaryitemsmeasuredatfairvalueshallbetranslatedatthespotexchangeratesonthedaywhenthefairvalueisdetermined.Theexchangedifferencearisingtherefromisincludedinthecurrentprofitandlossorcapitalreserves.
10.Financialinstruments
Financialinstrumentsincludefinancialassets,financialliabilitiesandequityinstruments.
1)Classificationoffinancialinstruments
2019
Uponinitialrecognition,financialassetsandfinancialliabilitiesareclassifiedinto:financialassetsorfinancialliabilitiesmeasuredatfairvaluethroughcurrentprofitandloss,includingfinancialassetsorfinancialliabilitiesheldfortradingandfinancialassetsorfinancialliabilitiesdirectlydesignatedtobemeasuredatfairvaluethroughcurrentprofitandloss;held-to-maturityinvestments;receivables;available-for-salefinancialassets;andotherfinancialliabilities,etc.
2)Recognitionandmeasurementoffinancialinstruments
(1)Financialassets(financialliabilities)measuredatfairvaluethroughcurrentprofitandlossFinancialassets(financialliabilities)measuredatfairvaluethroughcurrentprofitandlossareinitiallyrecognizedatthefairvalueuponacquisition(netofcashdividendsdeclaredbutnotyetpaidorbondinterestduebutnotyetreceived)andtherelatedtransactioncostsareincludedincurrentprofitandloss.Theinterestsorcashdividendstobereceivedduringtheholdingperiodarerecognizedasinvestmentincome.Changeinfairvaluesisincludedinthecurrentprofitandlossattheendoftheperiod.Thedifferencebetweenthefairvalueandtheinitialbook-entryvalueisrecognizedasinvestmentincomeupondisposal;meanwhile,adjustmentsaremadetoprofitsorlossesfromchangesinfairvalues.
(2)Held-to-maturityinvestments
Held-to-maturityinvestmentsareinitiallyrecognizedatthesumofthefairvalue(netofbondinterestduebutnotyetreceived)andrelatedtransactioncostsuponacquisition.Theinterestincomeiscalculatedandrecognizedaccordingtoamortizedcostsandeffectiveinterestrates(aspercouponratesifthedifferencebetweeneffectiveinterestratesandcouponratesissmall)duringtheholdingperiod,andisincludedintheinvestmentincome.Theeffectiveinterestratesaredetermineduponacquisitionandremainunchangedduringtheexpectedremainingperiod,orashorterperiodifapplicable.Upondisposal,thedifferencebetweenthepurchasepriceobtainedandthebookvalueoftheinvestmentisrecognizedininvestmentincome.
(3)Receivables
Forcreditor’srightsreceivablearisingfromexternalsalesofgoodsorrenderingofservicebytheCompanyandothercreditor'srightsofotherenterprises(excludingliabilityinstrumentsquotedinanactivemarket)heldbytheCompany,includingaccountsreceivable,otherreceivables,notesreceivable,prepaymentandothers,theinitialrecognitionamountshallbethecontractpriceoragreementpricereceivablefrompurchasingparty;forthosewithfinancingnature,theyareinitiallyrecognizedattheirpresentvalues.Uponrecoveryordisposal,thedifferencebetweenthepurchasepriceobtainedandthebookvalueofthereceivablesisrecognizedincurrentprofitandloss.
(4)Available-for-salefinancialassets
Financialassets(financialliabilities)measuredatfairvaluethroughcurrentprofitandlossareinitiallyrecognizedatthefairvalueandrelatedtransactionexpensesuponacquisition(netofcashdividendsdeclaredbutnotyetpaidorbondinterestduebutnotyetreceived).Theinterestsorcashdividendstobereceivedduringtheholdingperiodarerecognizedasinvestmentincome.Theinterestorcashdividendsshouldbemeasuredatfairvalueandtheirchangesinfairvalueshouldbeincludedin
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othercomprehensiveincome.However,foranequityinstrumentinvestmentthathasnoquotedpriceinanactivemarketandwhosefairvaluecannotbereliablymeasured,andforderivativefinancialassetlinkedtothesaidequityinstrumentinvestmentandsettledbydeliveryofthesameequityinstrument,theyshallbemeasuredatcost.Differencebetweentheproceedsandthebookvalueofthefinancialassetsisrecognizedasinvestmentprofitorlossupondisposal;meanwhile,amountofdisposalcorrespondingtotheaccumulatedchangeinfairvaluewhichisoriginallyanddirectlyincludedinothercomprehensiveincomeshallbetransferredoutandrecognizedasinvestmentgainsorlosses.
(5)Otherfinancialliabilities
Otherfinancialliabilitiesareinitiallyrecognizedatthesumoffairvalueandtransactionexpenses,andsubsequentlymeasuredatamortizedcosts.Subsequentmeasurementisconductedattheamortizedcost.
3)RecognitionandmeasurementoftransferoffinancialassetsWhenafinancialassetstransferoccurs,thefinancialassetswillbederecognizedwhensubstantiallyalltherisksandrewardsontheownershipofthefinancialassetshavebeentransferredtothetransferee;andtheywillnotbederecognizedifsubstantiallyalltherisksandrewardsontheownershipofthefinancialassetshavebeenretained.Whendeterminingwhetherthetransferofafinancialassetmeetstheabovede-recognitioncriteriaoffinancialassets,theCompanyadoptstheprincipleofsubstanceoverform.TheCompanyclassifiesthetransferofafinancialassetintotheentiretransferandthepartialtransferoffinancialasset.Wheretheentiretransferofthefinancialassetmeetsthede-recognitionconditions,thedifferenceofthefollowingtwoamountswillbeincludedincurrentprofitandloss:
(1)Thebookvalueofthetransferredfinancialasset;
(2)Thesumoftheconsiderationreceivedfromthetransferandtheaccumulatedamountofthechangesinfairvalueoriginallyanddirectlyincludedinowners’equity(thesituationwherethefinancialassettransferredisanavailable-for-salefinancialassetisinvolvedin).Ifthepartialtransferoffinancialassetsatisfiesthecriteriaforde-recognition,theentirebookvalueofthetransferredfinancialassetshallbesplitintothederecognizedandrecognizedpartaccordingtotheirrespectivefairvalueandthedifferencebetweentheamountsofthefollowingtwoitemsshallbeincludedinthecurrentprofitandloss:
(1)Thebookvalueofthederecognizedpart;
(2)Thesumoftheconsiderationforthederecognizedpartandtheportionofde-recognitioncorrespondingtotheaccumulatedamountofthechangesinfairvalueoriginallyanddirectlyincludedinowners’equity(thesituationwherethefinancialassettransferredisanavailable-for-salefinancialassetisinvolvedin).Ifthetransferoffinancialassetsdoesnotmeetthede-recognitioncriteria,thefinancialassetsshallcontinuetoberecognized,andtheconsiderationreceivedwillberecognizedasafinancialliability.
4)De-recognitioncriteriaoffinancialliabilities
Wherethepresentobligationsoffinancialliabilitieshavebeendischargedinwholeorinpart,thefinancialliabilityisderecognizedoranypartthereofwillbederecognized;iftheCompanysignsanagreementwithcreditorstoreplacetheexistingfinancialliabilitiesbyundertakingnewfinancialliabilities,andthenewfinancial
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liabilitiesaresubstantiallydifferentfromtheexistingonesintermsofcontractterms,theexistingfinancialliabilitieswillbederecognized,andatthesametime,thenewfinancialliabilitywillberecognized.Wheresubstantivechangesaremadetothecontracttermsofexistingfinancialliabilityinwholeorinpart,theexistingfinancialliabilitiesorpartthereofwillbederecognized,andthefinancialliabilitythetermsofwhichhavebeenmodifiedwillberecognizedasanewfinancialliability.Wherefinancialliabilitiesarederecognizediswholeorinpart,thedifferencebetweenthebookvalueofthefinancialliabilitiesderecognizedandtheconsiderationpaid(includingnon-cashassetstransferredoutornewfinancialliabilitiesborne)willbeincludedintocurrentprofitandloss.WheretheCompanyrepurchasespartofafinancialliability,theentirebookvalueofthefinancialliabilityshallbesplitintothederecognizedpartandcontinuously-recognizedpartaccordingtotheirrespectiverelativelyfairvaluesontherepurchasedate.Thedifferencebetweenthebookvalueofthederecognizedpartandtheconsiderationpaid(includingnon-cashassetstransferredoutornewfinancialliabilitiesassumed)shallbeincludedinthecurrentprofitandloss.
5)MethodofdeterminingthefairvalueoffinancialassetsandfinancialliabilitiesThefairvalueofafinancialinstrument,forwhichthereisanactivemarket,isthepricesquotedforittherein.Fairvalueofafinancialinstrumenthavingnoactivemarketshallbedeterminedbyusingvaluationtechniques.Atthetimeofvaluation,theCompanyadoptsthetechniquesthatareapplicableinthecurrentsituationandsupportedbyenoughavailabledataandotherinformation,selectstheinputvaluesthatareconsistentwiththefeaturesofassetsorliabilitiesasconsideredbymarketparticipantsinrelevantassetorliabilitytransactions,andgivesprioritytouserelevantobservableinputs.Theunobservableinputsareusedonlyunderthecircumstancewhenitisimpossibleorunobservableinputstoobtainrelevantobservableinputs.
6)Testingandaccountingmethodsofimpairmentoffinancialassets(excludingreceivables)Exceptforthefinancialassetsmeasuredatfairvaluesthroughcurrentprofitandloss,thebookvalueoffinancialassetsonthebalancesheetdateshouldbechecked.Ifthereisobjectiveevidencethatafinancialassetisimpaired,provisionforimpairmentshallbemade.
(1)Impairmentprovisionforavailable-for-salefinancialassets:
Ifthefairvalueofavailable-for-salefinancialassetshassignificantlydeclinedattheendoftheperiod,oritisexpectedthatthetrendofdecreaseinvalueisnon-temporaryafterconsideringvariousrelevantfactors,theimpairmentshallberecognized,andaccumulatedlossesfromdecreasesinfairvalueoriginallyanddirectlyincludedinowners’equityshallbealltransferredoutandrecognizedasimpairmentloss.Foravailable-for-saledebtinstrumentswhoseimpairmentlosseshavebeenrecognized,iftheirfairvaluesriseinthesubsequentaccountingperiodandsuchriseisobjectivelyrelatedtothemattersoccurringaftertherecognitionofimpairmentloss,thepreviouslyrecognizedimpairmentlossshallbereversedandrecordedintothecurrentprofitandloss.Impairmentlossesonavailable-for-saleequityinstrumentsshallnotbereversedthroughprofitorloss.
(2)Impairmentprovisionforheld-to-maturityinvestments:
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Measurementofimpairmentlossesonheld-to-maturityinvestmentsistreatedinaccordancewiththemeasurementmethodforimpairmentlossesonreceivables.
11.Notereceivable
12.Accountreceivable
(1)AccountreceivablewithindividuallysignificantamountandwithbaddebtprovisionaccrualindependentlyBasisandstandardfor"individuallysignificant"
Top5accountsreceivableandotherreceivablesbyindividualamountattheendoftheyear
Methodsforprovisionforbaddebtsofreceivableswithindividuallysignificantamount:
TheCompanywillseparatelyconductanimpairmenttestonanindividualbasisand
allowanceforbaddebtswillbemadeatthelowerofthepresentvalueoftheexpected
thefuture
cashflowandthebookvaluethereofandincludedincurrentprofitandloss.Thosedo
futurenot
impairaftertheseparatetestshallbeincludedintocorrespondingportfolioforprovision
notfor
baddebts.Ifseparatetestindicatesthatthereisimpairmentofreceivables,theyshallnot
forbe
includedthereceivablesportfoliowithsimilarriskcreditcharacteristicsforanimpairmenttest.
(2)Receivablesprovidedforbaddebtsonaportfoliobasis
PortfolioMethodsforprovisionforbaddebtsAccountageAgeoftheaccountAccrualmethodforbaddebtprovisionbyportfolioAccountageAginganalysis
AccountageProvisionratioforreceivablesProportionratioforotherreceivablesWithin1year(inclusive)0.00%0.00%1-2years5.00%5.00%2-3years15.00%15.00%Over3years3-4years
25.00%25.00%4-5years
50.00%50.00%Over5years100.00%100.00%
(3)AccountsreceivablewithindividuallyinsignificantamountsandindividualallowanceforbaddebtReasonsforseparateprovisionofallowanceforbaddebts
Attheendoftheyear,thereareobjectiveevidencesshowingthattheindividualbalancesbelowtopfiveareimpaired;forexample,thedebtorisdissolved,bankruptsordies,andthereforethereceivablescannotberecoveredafterthebankruptcypropertyortheestateisrepaid.
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Provisionmethodofallowanceforbaddebts
ifthereisanobjectiveevidencethattheimpairmentonreceivableshasoccurred,suchreceivables
beseparatedfromrelevantportfoliotoconductimpairmenttestseparately,basedonwhich
shallthe
impairmentlossesarerecognized.Receivablesotherthanaccountsreceivableandotherreceivablesaresubjecttoimpairment
theprovision
byusingthespecificidentificationmethods.
(4)Reversalofbaddebtprovision
Ifthereisobjectiveevidencethatthevalueofthereceivablehasbeenrecoveredandisobjectivelyrelatedtothemattersoccurredaftertherecognitionoftheloss,thepreviouslyrecognizedimpairmentlossshallbereversedandincludedinthecurrentprofitorloss.However,thebookvalueafterthereversaldoesnotexceedtheamortizedcostofthereceivableonthereversaldate,assumingnoprovisionforimpairment.
13.Receivablesfinancing
14.Otheraccountreceivable
Determinationandaccountingtreatmentoftheexpectedcreditlossforotheraccountreceivable:nil
15.Inventories
DoestheCompanyneedtocomplywiththedisclosurerequirementofthespecialindustryNil
16.Contractassets
17.Contractcosts
18.Assetsheldforsale
19.Investmentindebtobligations
20.Otherinvestmentindebtobligations
21.Long-termaccountreceivable
22.Long-termequityinvestment
1)JudgmentcriteriaforcommoncontrolandsignificantinfluenceJointcontrolreferstothecontrolsharedoveranarrangementinaccordancewiththerelevantstipulations,andthedecision-makingofrelatedactivitiesofthearrangementshouldnotbemadebeforethepartysharingthecontrolrightagreesthesame.WheretheCompanyexercisesjointcontrolovertheinvesteetogetherwithotherpartiestothejointventureandenjoystherightontheinvestee'snetassets,theinvesteeisajointventureoftheCompany.
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Significantinfluencereferstothepowertoparticipateinmakingdecisionsonthefinancialandoperatingpoliciesofanenterprise,suchasappointingrepresentativetotheboardofdirectorsorsimilarorgansofauthorityoftheinvestee,butnotthepowertocontroltheinvestee,orjointlycontrol,theformulationofsuchpolicieswithotherparties.Whereaninvestorisabletohavesignificantinfluencesonaninvestee,theinvesteeshallbetheCompany'sassociate.
2)Determiningofinitialinvestmentcost
(1)Long-termequityinvestmentacquiredfrombusinesscombinationBusinesscombinationunderthecommoncontrol:iftheCompanypaysaconsiderationtothecombineeincash,bytransferringnon-cashassetsorbyassumingdebts,theshareofbookvalueofitsowners'equityinthecombineeintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyshallberegarded,onthemergerdate,astheinitialinvestmentcostofthelong-termequityinvestment.Ifthereisadifferencebetweentheinitialinvestmentcostofthelong-termequityinvestmentandthetotalofbookvaluesofthepaidcash,transferrednon-cashassetsandofassumeddebtsaswellasthefacevalueofissuedshare,thedifferenceshallbeusedtoadjustthesharepremiuminthecapitalreserve;andifthesharepremiuminthecapitalreserveisinsufficienttobeoffset,retainedearningsshallbeadjusted.IncasetheCompanycanexercisecontrolovertheinvesteeundercommoncontrolforadditionalinvestmentorotherreasons,theinitialinvestmentcostoflong-termequityinvestmentsisrecognizedattheshareofbookvalueofnetassetoftheacquireeafterthecombinationintheconsolidatedfinancialstatementsoftheultimatecontrolleronthecombinationdate.Thestockpremiumshouldbeadjustedatthedifferencebetweentheinitialinvestmentcostoflong-termequityinvestmentsonthecombinationdateandthebookvalueoflong-termequityinvestmentsbeforethecombinationplusthebookvalueofconsiderationpaidforadditionalshares;ifthereisnosufficientstockpremiumforwrite-downs,theretainedearningsareadjusted.Businesscombinationnotunderthecommoncontrol:theCompanyrecognizesthecombinationcostdeterminedonthecombinationdateastheinitialcostoflong-termequityinvestments.WheretheCompanycancontroltheinvesteenotundercommoncontrolfromadditionalinvestments,theinitialinvestmentcostshouldbechangedtobeaccountedforunderthecostmethodandrecognizedatthesumofthebookvalueofequityinvestmentsoriginallyheldandnewlyincreasedinvestmentcost.Underbusinesscombinationnotunderthecommoncontrol,theauditing,legalservices,consultingandotherintermediaryfeesandotherrelatedadministrativeexpensesforbusinesscombinationwillbeincludedintocurrentprofitandlossuponoccurrence;thetransactioncostsfortheissuanceofequitysecuritiesordebtsecuritiesshallbeincludedintotheinitialrecognitionamountofequitysecuritiesordebtsecurities.
(2)Long-termequityinvestmentsobtainedbyothermeans
Forlong-termequityinvestmentsacquiredfrommakingpaymentsincash,theinitialcostistheactuallypaidpurchasecost.Forlong-termequityinvestmentsacquiredfromissuanceofequitysecurities,theinitialinvestmentcostisthefairvalueoftheissuedequitysecurities.
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Iftheexchangeofnon-monetaryassetshascommercialsubstanceandthefairvaluesofassetstradedoutandtradedincanbemeasuredreliably,theinitialcostoflong-termequityinvestmenttradedinwithnon-monetaryassetsaredeterminedbasedonthefairvaluesoftheassetstradedoutandtherelevanttaxesandsurchargespayableunlessthereisanyconclusiveevidencethatthefairvaluesoftheassetstradedinaremorereliable;iftheexchangeofnon-monetaryassetsdoesnotmeettheabovecriteria,thebookvalueoftheassetstradedoutandtherelevanttaxesandsurchargespayablearerecognizedastheinitialcostoflong-termequityinvestmenttradedin.Forlong-termequityinvestmentacquiredfromdebtrestructuring,theinitialcostisdeterminedbasedonthefairvalue.
3)Subsequentmeasurementsandrecognitionofgainorloss
(1)Long-termequityinvestmentundercostmethod
Long-termequityinvestmentsinsubsidiariesareaccountedforunderthecostmethod.Exceptfortheactualpricepaidforacquisitionofinvestmentorthecashdividendsorprofitscontainedintheconsiderationwhichhavebeendeclaredbutnotyetdistributed,theCompanyrecognizestheinvestmentincomeinthecurrentyearatthecashdividendsorprofitsdeclaredbytheinvestee.
(2)Long-termequityinvestmentaccountedforintheequitymethodTheCompany'slong-termequityinvestmentsinassociatesandjointventuresareaccountedforbyusingtheequitymethod.Iftheinitialcostismorethantheshareofthefairvalueoftheinvestee'identifiablenetassettowhichtheCompanyshallbeentitledwheninvesting,theinitialcostofthelong-termequityinvestmentwillnotbeadjusted.Iftheinitialcostofalong-termequityinvestmentislessthantheshareofthefairvalueoftheinvestee'sidentifiablenetassettowhichtheCompanyshallbeentitledwheninvesting,thedifferenceshallbeincludedinthecurrentprofitorloss.TheCompanyrespectivelyrecognizestheinvestmentincomeandothercomprehensiveincomeaccordingtothesharesofnetprofitorlossandothercomprehensiveincomerealizedbytheinvesteethatshouldenjoyedorassumedbytheCompany,andadjuststhebookvalueoflong-termequityinvestment;accordingtotheprofitdeclaredtobedistributedbytheinvesteeorthepartshallbeenjoyedcashdividendscalculation,toreducethebookvalueoflong-termequityinvestmentcorrespondingly;forotherchangesinowners'equityexceptingforexallprofitorlossoftheinvestee,othercomprehensiveincomeandprofitdistribution,thebookvalueoflong-termequityinvestmentshallbeadjustedandincludedintheowners'equity.WhenrecognizingtheshareofnetprofitorlossoftheinvesteethattheCompanyshallenjoy,basedonfairvalueofvariousidentifiableassetsandothersoftheinvesteeonacquisitionandaccordingtoaccountingpoliciesandaccountingperiodsoftheCompany,theCompanyshallrecognizesuchshareaftermakingadjustmentstonetprofitoftheinvestee.Whenholdingtheinvestment,theinvesteeshouldpreparetheconsolidatedfinancial
2019
statements,itshallaccountfortheinvestmentincomebasedonthenetprofit,othercomprehensiveincomeandthechangesinotherowner'sequityattributabletotheinvestee.TheCompanyshallwriteoffthepartofincomesfrominternalunrealizedtransactionsbetweentheCompanyandassociatesandjointventureswhichareattributabletotheCompanyaccordingtothecorrespondingratioandrecognizetheprofitandlossoninvestmentsonsuchbasis.WherethelossesfrominternaltransactionsbetweentheCompanyandtheinvesteefallintothescopeofassetsimpairmentloss,thefullamountofsuchlossesshouldberecognized.FortransactionsoninvestmentsorsalesofassetsbetweentheCompanyandassociatesandjointventures,wheresuchassetsconstitutebusiness,theyshouldbeaccountedforaccordingtotherelevantpolicies.WhentheCompanyrecognizesitsshareoflossincurredtotheinvestee,treatmentshallbedoneinthefollowingsequence:firstly,thebookvalueofthelong-termequityinvestmentshallbereduced;secondly,wherethebookvaluethereofisinsufficienttocovertheshareoflosses,investmentlossesarerecognizedtotheextentofbookvalueofotherlong-termequitieswhichformnetinvestmentintheinvesteeinsubstanceandthebookvalueoflongtermreceivablesshallbereduced.Finally,afteralltheabovetreatments,iftheCompanyisstillresponsibleforanyadditionalliabilityinaccordancewiththeprovisionsstipulatedintheinvestmentcontractsoragreements,provisionsarerecognizedandincludedintocurrentinvestmentlossaccordingtotheobligationsestimatedtoundertake.Aninvestingpartyshallrecognizethenetlossincurredbytheinvestedentityuntilthebookvalueofthelong-termequityinvestmentandotherlong-terminterestswhichsubstantiallyformthenetinvestmentintheinvestedentityarereducedtozero,unlesstheinvestingpartyisobligedtoundertakeextralosses.Iftheinvestedentityrealizesanynetprofitlater,theinvestingpartyshall,aftertheamountofitsattributableshareofprofitsoffsetsitsattributableshareoftheunrecognizedlosses,resumerecognizingitsattributableshareofprofits.
(3)Disposaloflong-termequityinvestments
Fordisposaloflong-termequityinvestments,thedifferencebetweenthebookvalueandtheactualpriceshallbeincludedintothecurrentprofitorloss.Wherealong-termequityinvestmentisaccountedforundertheequitymethod,accountingtreatmentshouldbemadeonthepartwhichisoriginallyincludedinothercomprehensiveincomeaccordingtocorrespondingratiobyusingthesamebasisfortheinvesteetodirectlydisposeoftherelevantassetsorliabilitieswhentheinvestmentsaredisposedof.Owner'sequityrecognizedfromtheinvestee'schangesinotherowner'sequityotherthannetprofitorloss,othercomprehensiveincomeandprofitdistributionshouldalltransferredtothecurrentprofitandlossinproportion.Incasethejointcontrolorsignificantinfluenceovertheinvesteeislostfordisposingpartofequityinvestmentsorotherreasons,theremainingequitywillbechangedtobeaccountedforaccordingtotherecognitionandmeasurementprinciplesoffinancialinstruments.Thedifferencebetweenthefairvalueandthebookvalueonthe
2019
dateofthelossofjointcontrolorsignificantinfluenceshouldbeincludedinthecurrentprofitandloss.Astoothercomprehensiveincomerecognizedbasedonmeasurementoftheoriginalequityinvestmentundertheequitymethod,accountingtreatmentshallbemadeonthesamebasisaswouldberequirediftheinvesteehaddirectlydisposedoftheassetsorliabilitiesrelatedtheretowhenmeasurementundertheequitymethodisterminated.Owner'sequityrecognizedfromtheinvestee'schangesinotherowner'sequityotherthannetprofitorloss,othercomprehensiveincomeandprofitdistributionshouldalltransferredtothecurrentprofitandlosswhentheequitymethodconfirmedisnolongeradopted.WheretheCompanylosesthecontrolovertheinvesteeduetodisposalofpartialequityinvestmentsorotherreasons,whenitpreparesseparatefinancialstatements,theremainingequityafterdisposalthatcanjointlycontrolorhavesignificantinfluenceontheinvesteewillbemeasuredattheequitymethod,andtheremainingequityshouldbedeemedtohavebeenadjustedatequitymethodonacquisition;Iftheremainingequityafterdisposalcannotexercisejointcontrolorsignificantinfluenceontheinvestee,suchinvestmentsshouldbeaccountedforaccordingtotheprovisionsontherecognitionandmeasurementoffinancialinstrumentsandthedifferencebetweenfairvalueandbookvalueonthedateoflossofthecontrolshouldbeincludedinthecurrentprofitandloss.Wherethedisposedequitiesareacquiredbytheenterprisecombinationduetothereasonssuchasadditionalinvestment,theremainingequitiesafterthedisposalarecalculatedbasedonthecostmethodorequitymethodinpreparingtheindividualfinancialstatements,andothercomprehensiveincomeandotherowners'equityrecognizedbecauseoftheequitymethodadoptedforthecalculationoftheequityinvestmentheldpriortothepurchasedatearecarriedforwardinproportion;theremainingequitiesafterthedisposalarechangedtobemadeinaccordancewiththerelevantprovisionsintherecognitionandmeasurementcriteriaoffinancialinstrumentswhileothercomprehensiveincomeandotherowners'equityarecarriedforwardinfull.
23.Investmentproperty
MeasurementmodeMeasuredbycostmethodDepreciationoramortizationmethodInvestmentpropertiesarepropertiestoearnrentalsorforcapitalappreciationorboth.Examplesincludelandleasedoutunderoperatingleases,landheldforlong-termcapitalappreciation,buildingsleasedoutunderoperatingleases,(includingbuildingsthathavebeenconstructedordevelopedforfutureleaseoutunderoperatingleases,andbuildingsthatarebeingconstructedordevelopedforfutureleaseoutunderoperatingleases).TheCompanymeasurestheexistinginvestmentpropertiesbyusingthecostmodel.Forinvestmentpropertymeasuredbyusingthecostmodel,thebuildingsforleaseshallbedepreciatedbyusingpoliciesthesameasused
2019
forfixedassetsoftheCompany,andthelanduserightsforleaseshallbeamortizedbyusingthesamepoliciesasapplicabletointangibleassets.
24.Fixedassets
(1)Recognitioncriteria
1)Fixedassetsrefertotangibleassetsheldforthepurposeofproducingcommodities,providingservices,rentingorbusinessmanagementwithusefullivesexceedingoneyear.Fixedassetsarerecognizedwhentheysimultaneouslymeetthefollowingconditions:
(1)ItisprobablethattheeconomicbenefitsrelatingtothefixedassetswillflowintotheCompany;and
(2)Thecostsofthefixedassetscanbemeasuredreliably.
2)Classification:Fixedassetscanbeclassifiedinto:buildingsandconstructions,electronicequipment,transportequipment,electronicentertainmentequipment,otherequipmentanddecorationimprovements.
3)Initialmeasurementoffixedassets
Fixedassetsshallbeinitiallymeasuredatactualcostsonacquisition.Thecostsofexternallyacquiredfixedassetsshallbedeterminedbytheirpurchaseprices,relatedtaxesandsurchargesandanyattributabletransportexpenses,loadingandunloadingexpenses,installationexpensesandprofessionalserviceexpensesincurredtopreparethefixedassetsforitsserviceablecondition.Ifthepaymentforafixedassetisdelayedbeyondthenormalcreditconditionsanditisofthefinancingnature,thecostofthefixedassetshallbedeterminedonthebasisofthecurrentvalueofthepurchaseprice.Costsofself-builtfixedassetsconsistofnecessaryexpendituresincurredbeforepreparingtheassettoreachtheconditionforitsintendeduse.Forfixassetsobtainedindebtrestructuringbydebtorsforthesettlementofhisliabilities,theirbook-entryvalueshouldbeinitiallystatedbasedontheirfairvalues.Differencesbetweenthebookvaluesandthefairvaluesofthefixassetsareincludedinthecurrentprofitandloss;Iftheexchangeofnon-monetaryassetshascommercialsubstance,andthefairvalueoftheseassetscanbemeasuredreliably,thebook-entryvalueoffixedassetstradedinisdeterminedonthebasisofthefairvalueofthefixedassetstradedoutunlessthereisanyconclusiveevidencethatthefairvalueoftheassetstradedinismorereliable;iftheexchangeofnon-monetaryassetsdoesnotmeettheabovecriteria,thecostofthefixedassetstradedinshouldbethebookvalueoftheassetstradedoutandrelevanttaxesandsurcharges
2019
payable,andnoprofitorlossshallberecognized.Forfixedassetsacquiredfrombusinesscombinationundercommoncontrol,theirbook-entryvaluesarerecognizedatthebookvaluesofthecombinee;forfixedassetsacquiredfrombusinesscombinationnotundercommoncontrol,theirbook-entryvaluesarerecognizedatthefairvalue.TheCompanyshallstatetheassetsacquiredunderfinanceleaseatthelowerofthebookvalueoftheleasedassetsontheleasebeginningdateorthepresentvalueoftheminimumleasepayments.
(2)Depreciationmethodoffixedassets
AssettypeDepreciationmethodYearfordepreciationResidualvaluerate
Yearlydepreciation
rateHousesandbuildingsStraight-linemethod20-405%4.75%-2.37%MechanicalequipmentStraight-linemethod8-205%11.87%-4.75%Entertainmentequipment
Straight-linemethod5-165%19%-5.93%Transportationequipment
Straight-linemethod7-125%13.57%-7.91%OtherequipmentStraight-linemethod85%11.87%
(3)Reorganizationbasis,valuationanddepreciationmethodforfinancialleaseassets
25.Constructioninprogress
TheCompanyneedtocomplywiththedisclosurerequirementunderIndustryInformationDisclosureGuidelinesoftheShenzhenStockExchangeNo.2-ListedCompaniesEngagedinRelatedBusinessofSolidMineralResources
Thebook-entryvaluesofthefixedassetsarestatedattotalexpendituresincurredbeforereachingworkingconditionfortheirintendeduse.Forconstructioninprogressthathasreachedworkingconditionsforitsintendedusebutforwhichthecompletionofsettlementhasnotbeenhandled,itshallbetransferredintofixedassetsattheestimatedvalueaccordingtotheprojectbudget,constructionpriceoractualcost,etc.fromthedatewhenitreachestheworkingconditionsforitsintendeduse.ThefixedassetsshallbedepreciatedinaccordancewiththeCompany’spolicyonfixedassetdepreciation.Adjustmentshallbemadetotheoriginallyandprovisionallyestimatedvaluebasedontheactualcostafterthecompletionofsettlementishandled,butdepreciationalreadyprovidedwillnotbeadjusted.Thetotalamountofexpenditureincurredbytheprojectunderconstructionbeforetheconstructionoftheassetreachestheexpectedusableconditionisrecordedastheentryvalueofthefixedassets.Iftheprojectunderconstructionoffixedassetshasreachedtheexpectedusablecondition,buthasnotyetcompletedthefinalsettlementoftheproject,itwillbetransferredtothefixedvaluebytheestimatedvalueaccordingtotheproject
2019
budget,costoractualcostoftheprojectfromthedateofthescheduledusablecondition,andwillbeaccruedthedepreciationoffixedassetsaccordingtotheCompany'sfixedassetsdepreciationpolicy,afterthecompletionoffinalaccounts,theoriginaltemporaryvaluationshallbeadjustedaccordingtotheactualcost,buttheoriginaldepreciationamountwillnotbeadjusted.
26.Borrowingcosts
1)Recognitionprinciplesofcapitalizationofborrowingcosts
Borrowingcostsincludetheinterestofborrowings,theamortizationofdiscountorpremium,auxiliaryexpenses,exchangedifferencesincurredbyforeigncurrencyborrowings,etc.TheborrowingcostsincurredtotheCompanyanddirectlyattributabletotheacquisitionandconstructionorproductionofassetseligibleforcapitalizationshouldbecapitalizedandrecordedintorelevantassetcosts;otherborrowingcostsshouldberecognizedascostsaccordingtotheamountincurredandbeincludedintothecurrentprofitandloss.Assetseligibleforcapitalizationrefertofixedassets,investmentproperty,inventoriesandotherassetswhichmayreachtheirintendeduseorsalestatusonlyafterlong-timeacquisitionandconstructionorproductionactivities.Borrowingcostsmaybecapitalizedonlywhenallthefollowingconditionsaremetatthesametime:
(1)Assetdisbursements,whichincludethoseincurredbycashpayment,thetransferofnon-cashassetsortheundertakingofinterest-bearingdebtsforacquiringandconstructingorproducingassetseligibleforcapitalization,havealreadybeenincurred;
(2)Borrowingcostshavealreadybeenincurred;
(3)Purchase,constructionormanufacturingactivitiesthatarenecessarytopreparetheassetsfortheirintendeduseareinprogress.
2)Capitalizationperiodofborrowingcosts
Capitalizationperiodreferstotheperiodfromcommencementofcapitalizationofborrowingcoststoitscessation;periodofsuspensionforcapitalizationisexcluded.Capitalizationofborrowingcostsshouldceasewhentheacquiredandconstructedorproducedassetseligibleforcapitalizationhavereachedtheworkingconditionfortheirintendeduseorsale.Whensomeprojectsamongtheacquiredandconstructedorproducedassetseligibleforcapitalizationarecompletedandcanbeusedseparately,thecapitalizationofborrowingcostsofsuchprojectsshouldbeceased.Ifallpartsoftheacquiredandconstructedorproducedassetsarecompletedbuttheassetscannotbeusedorsoldexternallyuntiloverallcompletion,thecapitalizationofborrowingcostsshouldbeceasedatthetimeofoverallcompletionofthesaidassets.
3)Periodofsuspensionforcapitalization
Iftheacquisitionandconstructionorproductionactivitiesofassetseligibleforcapitalizationareabnormally
2019
interruptedandsuchconditionlastsformorethanthreemonths,thecapitalizationofborrowingcostsshouldbesuspended;iftheinterruptionisnecessaryproceduresfortheacquired,constructedorproducedassetseligibleforcapitalizationtoreachtheworkingconditionsforitsintendeduseorsale,theborrowingcostscontinuetobecapitalized.Borrowingcostsincurredduringtheinterruptionarerecognizedasthecurrentprofitandlossandcontinuetobecapitalizeduntiltheacquisition,constructionorproductionoftheassetrestarts.
4)Calculationofcapitalizationamountofborrowingcosts
Asforspecialborrowingsborrowedforacquiringandconstructingorproducingassetseligibleforcapitalization,borrowingcostsofspecialborrowingactuallyincurredinthecurrentperiodlesstheinterestincomeoftheborrowingsunusedanddepositedinbankorreturnontemporaryinvestmentshouldberecognizedasthecapitalizationamountofborrowingcosts.Asforgeneralborrowingsusedforacquiringandconstructingorproducingassetseligibleforcapitalization,theinterestofgeneralborrowingstobecapitalizedshouldbecalculatedbymultiplyingtheweightedaverageofassetdisbursementsofthepartofaccumulatedassetdisbursementsexceedingspecialborrowingsatendofeachmonthbythecapitalizationrateofusedgeneralborrowings.Thecapitalizationrateiscalculatedbyweightedaverageinterestrateofgeneralborrowings.Asforborrowingswithdiscountorpremium,theto-be-amortizeddiscountorpremiumineachaccountingperiodshouldberecognizedbyeffectiveinterestratemethod,andtheinterestforeachperiodshouldbeadjusted.
27.Biologicalassets
28.Oil-and-gasassets
29.Right-of-useassets
30.Intangibleassets
(1)Valuationmethod,usefullivesandimpairment
1)Valuationmethodofintangibleassets
(1)TheCompanyinitiallymeasuresintangibleassetsatcostonacquisition;Thecostsofexternallypurchasedintangibleassetsincludepurchaseprices,relevanttaxesandsurchargesandotherdirectlyattributableexpendituresincurredtopreparetheassetsfortheirintendeduse.Ifthepaymentforanintangibleassetisdelayedbeyondthenormalcreditconditionsanditisofthefinancingnature,thecostoftheintangibleassetshallbedeterminedonthebasisofthecurrentvalueofthepurchaseprice.Foranintangibleassetobtainedindebtrestructuringbyadebtorforthesettlementofrelevantliability,thebook-entryvalueshallbeinitiallyrecognizedbasedonthefairvalueoftheintangibleasset.Differencebetweenthebookvalueofrestructureddebtsandthefairvalueoftheintangibleassetusedfordebtoff-setshallbe
2019
includedinthecurrentprofitorloss;Onthepremisethatnon-monetaryassetstradeisofcommercialnatureandthefairvalueoftheassetstradedinoroutcanbemeasuredreliably,theintangibleassetstradedinwithnon-monetaryassetsshouldberecognizedatthefairvalueoftheassetstradedout,unlessanyunambiguousevidenceindicatesthatthefairvalueoftheassetstradedinismorereliable;astothenon-monetaryassetstradenotmeetingtheaforesaidpremise,thebookvalueoftheassetstradedoutandrelatedtaxesandsurchargespayableshouldberecognizedasthecostoftheintangibleassets,withgainsorlossesnotrecognized.Forintangibleassetsacquiredfrombusinesscombinationundercommoncontrol,theinitialbookvalueareinitiallyrecognizedatthebookvalueofthecombinee;forintangibleassetsacquiredfrombusinesscombinationnotundercommoncontrol,theinitialbookvalueareinitiallyrecognizedatthefairvalue.Costsofintangibleassetsdevelopedinternallyandindependentlyinclude:thecostsofmaterialsandlaborservicesusedtodeveloptheintangibleassets,theregistrationfee,theamortizationofotherpatentsandfranchiseusedintheprocessofdevelopment,theinterestexpensesmeetingtheconditionforcapitalization,andotherdirectexpensesforpreparingtheintangibleassetsfortheirintendeduse.
(2)Subsequentmeasurement
Theusefullivesoftheintangibleassetsareanalyzedanddeterminedontheiracquisition.Forintangibleassetswithdefiniteusefullives,theCompanyshalladoptthestraight-linemethodforamortizationwithintheperiodduringwhichtheycanbringeconomicbenefitstotheCompany;wheretheperiodduringwhichtheycanbringeconomicbenefitstotheCompanycannotbeforecast,thoseintangibleassetsshallbedeemedasassetswithindefinitelivesandnoamortizationwillbemade.
2)Estimatesofusefullivesofintangibleassetswithdefiniteusefullives
ItemEstimatedusefullivesBasisLanduserights50yearsUsetermforthelanduserighttitleTheusefullifeandamortizationmethodofintangibleassetswithlimitedusefullifearereviewedattheendofeachperiod.Uponreview,theusefullivesandamortizationmethodoftheintangibleassetsasattheendoftheyearwerenotdifferentfromthoseestimatedbefore.
3)JudgmentbasisforintangibleassetswithindefiniteusefullivesAsatthebalancesheetdate,theCompanyhasnointangibleassetswithindefiniteusefullives.
(2)AccountingpolicyofinternalR&Dexpenditures
31.Impairmentoflong-termassets
Forthelong-termequityinvestments,investmentproperties,fixedassets,constructioninprogress,intangibleassets,andotherlong-termassetsmeasuredatcostmodel,iftherearesignsofimpairment,animpairmenttestwillbeconductedonthebalancesheetdate.Ifimpairmenttestresultsindicatethattherecoverableamountsofthe
2019
assetsarelowerthantheirbookvalue,theprovisionforimpairmentismadebasedonthedifferences,whicharerecognizedasimpairmentlosses.Therecoverableamountsofintangibleassetsarethehigheroftheirfairvalueslesscoststosellandthepresentvaluesofthefuturecashflowsexpectedtobederivedfromtheassets.Theassetsimpairmentprovisioniscalculatedandmadeonanindividualbasis.IfitisdifficultfortheCompanytoestimatetherecoverableamountoftheindividualasset,therecoverableamountofanassetgrouptowhichthesaidassetbelongstowillbedetermined.Assetgroupistheminimumcombinationofassetsthatcanindependentlygeneratecashinflows.Afterthelossesfromassetimpairmentarerecognized,theyarenotreversedinsubsequentperiods.
32.Long-termdeferredexpenses
Long-termdeferredexpensesrefertovariousexpenseswhichhavebeenalreadyincurredbutwillbeborninthereportingperiodandinthefuturewithanamortizationperiodofoveroneyear.
1)Amortizationmethod
Long-termdeferredexpensesareevenlyamortizedoverthebeneficialperiod
2)Amortizationperiod
ItemAmortizationperiod
Hotelexteriordecoration4yearsFirestairsrenovation4yearsCFLOORROOMRENOVATION5yearsVillarenovation5yearsSwimmingpoolrenovation5years
33.Contractliabilities
34.Employeecompensation
(1)Accountingmethodforshort-termcompensation
DuringtheaccountingperiodwhenemployeesservetheCompany,theactualshort-termcompensationisrecognizedasliabilitiesandincludedincurrentprofitandlossorcostsassociatedwithassets.TheappropriateamountofemployeecompensationpayablewillbedeterminedduringtheaccountingperiodwhentheemployeesprovideservicesfortheCompanybasedonthemedicalinsurance,workinjuryinsuranceandmaternityinsuranceandothersocialinsuranceandhousingfundpaidbytheCompanyforemployees,aswellastradeunionfundsandemployeeeducationfundswithdrawnaccordingtoprovisionsattheaccrualbasisandaccrualratio.
2019
Theemployeebenefitsinthenon-monetaryformshallbemeasuredatfairvalue.
(2)Accountingmethodfordismissalwelfare
WhentheCompanyfailstounilaterallywithdrawthedismissalbenefitsofferedduetotheterminationofthelaborrelationplanorlayoffproposal,orconfirmsthecostsorfeesassociatedwiththereorganizationinvolvingthepaymentofthedismissalbenefits(whicheverisearlier),theemployeecompensationliabilitiesarisingfromtheconfirmationofdismissalbenefitsareincludedinthecurrentprofitorloss.
(3)Accountingmethodforpost-employmentbenefits
TheCompanypaysthebasicendowmentinsurancepremiumsandunemploymentinsuranceforemployeesaccordingtotherelevantprovisionsofthelocalgovernments.DuringtheaccountingperiodwhenemployeesservetheCompany,thepaidamountwhichiscalculatedbasedonthepaymentbaseandproportionasstipulatedintheprovisionsofthelocalplaceisrecognizedasliabilitiesandincludedinthecurrentprofitorlossorassets-relatedassetscost.
(4)Accountingmethodforotherlong-termemployeewelfare
35.Leaseliability
36.Estimatedliabilities
WhentheCompanyisinvolvedinlitigation,debtguarantees,loss-makingcontract,reorganizationmatters,ifsuchmattersarelikelytobesatisfiedbydeliveryofassetsorprovisionofservicesinthefutureandtheamountcanbemeasuredreliably,theyshallberecognizedasestimatedliabilities.
1)Recognitioncriteriaforestimatedliabilities
Whenanobligationrelatingtoacontingencymeetsallthefollowingconditionsatthesametime,itisrecognizedasanestimatedliability:
(1)SuchobligationisapresentobligationoftheCompany;
(2)TheperformanceofsuchobligationmaywellcauseoutflowsofeconomicbenefitsfromtheCompany;and
(3)Theamountofsuchobligationcanbemeasuredreliably.
2)Measurementmethodofestimatedliabilities
TheestimatedliabilitiesoftheCompanyareinitiallymeasuredasthebestestimateofexpensesrequiredfortheperformanceofrelevantpresentobligations.WhentheCompanydeterminesthebestestimate,itshouldhaveacomprehensiveconsiderationofriskswith
2019
respecttocontingencies,uncertaintiesandthetimevalueofmoney.Ifthetimevalueofmoneyissignificant,thebestestimateswillbedeterminedafterdiscountofrelevantfuturecashoutflows.Thebestestimatesshallbetreatedasfollowsindifferentcircumstances:
Ifthereiscontinuousrange(orinterval)forthenecessaryexpenses,andprobabilitiesofoccurrenceofalltheoutcomeswithinthisrangeareequal,thebestestimateswillbedeterminedattheaverageamountofupperandlowerlimitswithintherange.Ifthereisnocontinuousrange(orinterval)forthenecessaryexpenses,orprobabilitiesofoccurrenceofalltheoutcomeswithinthisrangeareunequaldespitesucharangeexists,incasethatthecontingencyinvolvesasingleitem,thebestestimateshallbedeterminedatthemostlikelyoutcome;ifthecontingencyinvolvestwoormoreitems,thebestestimateshouldbedeterminedaccordingtoallthepossibleoutcomeswiththeirrelevantprobabilities.WhenallorpartoftheexpensesnecessaryforthesettlementofestimatedliabilitiesoftheCompanyareexpectedtobecompensatedbyathirdparty,thecompensationshallbeseparatelyrecognizedasanassetonlywhenitisvirtuallycertaintobereceived.Thecompensationrecognizedshallnotexceedthebookvalueoftheestimatedliabilities.
37.Share-basedpayment
38.Otherfinancialinstrumentaspreferredstockandperpetualbondetc.
39.Revenue
DoestheCompanyneedtocomplywiththedisclosurerequirementofthespecialindustryNoWhetherthenewrevenuestandardsbeenimplemented
□Yes√No
40.Governmentgrants
1)Type
Governmentgrantsrefertothemonetaryornon-monetaryassetsobtainedbytheCompanyfromthegovernmentforfree.Governmentgrantsaredividedintoasset-relatedgovernmentgrantsandincome-relatedgovernmentgrants.Asset-relatedgovernmentgrantsrefertogovernmentgrantsobtainedbytheCompanyforforminglong-termassetsbyacquisition,constructionorothermanners.Income-relatedgovernmentgrantsrefertogovernmentgrantsexcludingtheasset-relatedgovernmentgrants.
2019
2)Recognitiontimeandmeasurement
Governmentgrantscanberecognizedwhensimultaneouslymeetingthefollowingconditions:
1)Theenterprisecanmeetconditionsattachedtogovernmentgrants;and
2)Theenterprisecanreceivegovernmentgrants.
Ifagovernmentgrantisamonetaryasset,itshallbemeasuredattheamountreceivedorreceivable.Governmentgrantsshallbemeasuredatreceivableswhenthereisstrongevidenceattheendoftheperiodthatsuchgrantscomplywiththerelevantconditionsprescribedbythefinancialsupportpoliciesandthefinancialsupportfundsareexpectedtobereceived.Otherfinancialgrantsshallbeconfirmedaccordingtotheamountofmoneyreceived.Ifgovernmentgrantsarenon-monetaryassets,theyshallbemeasuredatitsfairvalue;andifthefairvaluecannotbeobtainedinareliableway,theyshallbemeasuredatanominalamount.
3)Accountingtreatment
A-Asset-relatedgovernmentgrantsshallbeusedtooffsetthebookvalueofrelevantassetsorrecognizedasdeferredincome.Ifasset-relatedgovernmentgrantsarerecognizedasdeferredincome,theyshallbeincludedinprofitorlossbystagesbyareasonableandsystematicmethodwithintheusefullivesofrelevantassets.Governmentgrantsmeasuredatthenominalamountaredirectlyincludedinthecurrentprofitorloss.Whererelevantassetsaresold,transferred,scrapedordamagedbeforetheendoftheirlives,balanceoftherelevantunallocateddeferredincomeistransferredtothecurrentprofitandlossonassetdisposal.B-Accountingtreatmentwillbeconductedforgovernmentgrantsassociatedwithincomeinaccordancewiththefollowingprovisions:
a)governmentgrantsassociatedwithincomethatareusedtorecoverrelevantcostsorlossesoftheenterpriseinsubsequentperiodarerecognizedasdeferredincomeandincludedinthecurrentprofitorlosswhenrelevantcostsorlossesarerecognized;b)Ifgovernmentgrantsrelatedtoincomeareusedtocompensatetherelevantcostsandlossesthathaveoccurred,suchgovernmentgrantsshouldbedirectlyincludedinthecurrentprofitorloss.c)Whereboththeasset-relatedgovernmentgrantsandincome-relatedgovernmentgrantsarecovered,theaccountingtreatmentshouldbedonerespectivelybydistinguishingtheasset-relatedgovernmentgrantsand
2019
income-relatedgovernmentgrants;ifitisdifficulttodistinguish,thesegovernmentgrantswillbeclassifiedintotheincome-relatedgovernmentgrantsasawhole.C-Anygovernmentgrantrelatedtothedailyactivitiesofanenterpriseshallbeincludedintootherincomeinaccordancewiththebusinessnature.Governmentgrantsunrelatedtothedailyactivitiesofenterprisesshallberecordedasnon-operatingrevenuesandexpenditures.
41.Deferredtaxassetsanddeferredtaxliabilities
Deferredtaxassetsarerecognizedfordeductibletemporarydifferencestotheextentthatitshallnotexceedthetaxableincomeprobablyobtainedinfutureperiodthatcanbeusedfordeductingthedeductibletemporarydifferences.Taxabletemporarydifferencesarerecognizedasdeferredtaxliabilitiesinadditiontospecialcircumstances.Specialcircumstancesinwhichdeferredincometaxassetsordeferredincometaxliabilitiesshallnotberecognizedinclude:theinitialrecognitionofgoodwill;othertransactionsormattersexcludingbusinesscombinations,whichaffectneitheraccountingprofitsnorthetaxableincome(ordeductiblelosses)whenoccurred.WhentheCompanyhasthestatutoryrighttodosettlementwiththenetamounts,andhastheintentiontodosoortherecoveryofassetsandthesettlementofliabilitiesareachievedsimultaneously,theCompanyshallpresentitscurrentincometaxassetsandcurrentincometaxliabilitiesatthenetamountsastheresultofoneoffsettinganother.WhentheCompanyhasthelegalrightstobalanceincometaxassetsandincometaxliabilitiesforthecurrentperiodwithnetsettlement,anddeferredincometaxassetsanddeferredincometaxliabilitiesarerelatedtotheincometaxwhichareimposedonthesametaxpayingsubjectbythesametaxcollectionauthorityorondifferenttaxpayingsubjects,but,ineachimportantfutureperiodinconnectionwiththereverseofdeferredincometaxassetsandliabilities,theinvolvedtaxpayingsubjectintendstobalanceincometaxassetsandliabilitiesforthecurrentperiodwithnetsettlementatthetimeofobtainingassetsanddischargingliabilities,deferredincometaxassetsanddeferredincometaxliabilitiesshallbepresentedbasedonthenetamountafteroffset.
2019
42.Lease
(1)Accountingtreatmentofoperatinglease
1)Accountingtreatmentofassetsleased
TherentalfeespaidfortheassetleasedbytheCompanywillbeamortizedovertheentireleasetermwithoutdeductingrent-freeperiodaccordingtothestraight-linemethodandincludedintheexpensesforthecurrentperiod.TheinitialdirectcostsrelatedtotheleasetransactionspaidbytheCompanyareincludedinthecurrentexpenses.WhenassetslessorbearscostsrelatedtotheleasebornebytheCompany,theCompanyshalldeductthepartofexpensesfromthetotalrentsandamortizetherentsafterdeductionovertheleasetermandincludethemincurrentexpenses.
2)Accountingtreatmentofleasing-outassets
LeasefeesreceivedbytheCompanyfromleasingassetsshallbeamortizedatstraight-linemethodoverthewholeleaseperiodincludingrent-freeperiod,andshallberecognizedasleaseincome.InitialdirectcostsrelatingtoleasetransactionsincurredbytheCompanyshallberecognizedasthecurrentexpenses;iftheamountsaresignificant,theyshallbecapitalizedandincludedinthecurrentincomeonthesamebasisastherecognitionofleaseincome.WhentheCompanybearscostsrelatedtotheleasebornebytheleasee,theCompanyshalldeductthepartofexpensesfromthetotalrentsandamortizetherentsafterdeductionovertheleaseterm.
(2)Accountingtreatmentoffinancelease
43.Otherprincipalaccountingpoliciesandaccountingestimates
44.Changestoprincipalaccountingpoliciesandaccountingestimates
(1)Changesinprincipalaccountingpolicies
□Applicable√Notapplicable
(2)Changesinprincipalaccountingestimates
□Applicable√Notapplicable
(3)Adjustmentonrelevantitemsoffinancialstatementatbeggingoftheyearwheninitiallyimplementedthenewfinancialinstrumentsstandards,newrevenuestandardsandnewleasingstandards
2019
□Applicable√Notapplicable
(4)Explanationoftheretrospectiveadjustmentoncomparativedatainthepriorperiodwhileimplementednewfinancialinstrumentsstandardsandnewleasingstandardsforthefirsttime
□Applicable√Notapplicable
45.Other
VI.Taxation
1.MajortaxtypesandtaxratesapplicabletotheCompanyTaxesBasisfortaxassessmentTaxrateValueaddedtax(VAT)
OutputVATiscalculatedbasedontaxablesalesrevenueandservicerevenuecalculatedinaccordancewithtaxlawsandVATpayableortaxablesalesrevenueshallbethedifferenceafterdeductingtheinputVATdeductibleinthesameperiod
5%,6%,9%,10%,13%Urbanmaintenanceandconstructiontax
LeviedbasedonVATpayable7%Enterpriseincometax
Leviedbasedonthetaxableincome25%EducationsurtaxLeviedbasedonVATpayable3%Localeducationsurtax
LeviedbasedonVATpayable2%Housingpropertytax
Remainingvalueafterdeducting30%fromtheoriginalvalueofthehouse
(includingtheoccupiedlandprice),andrentrevenue
1.2%,12%
LandusetaxLandareaRMB18/m
Disclosereasonsfordifferenttaxpayingbody:Nil
2.Taxpreference
3.Other
VII.Notestotheitemsoffinancialstatements
1.MonetaryFund
InRMB/CNYItemEndingbalanceBeginningbalanceCashonhand476,191.77347,782.65Bankdeposits15,634,704.1815,016,572.65Total16,110,895.9515,364,355.30Otherexplanation:nil
2019
2.Tradingsecurities:nil
3.Derivativefinancialassets:nil
4.Notereceivable:nil
5.Accountsreceivable
(1)Disclosureofaccountreceivablesbycategory
InRMB/CNYCategory
EndingbalanceBeginningbalanceBookbalance
Provisionforbaddebt
Bookvalue
Bookbalance
Provisionforbaddebt
BookvalueAmount
Proporti
on
Amount
Provisio
nratio
Amount
Proporti
on
Amount
ProvisionratioAccountsreceivablewithprovisionforbaddebtsbasedonsingleitemAccountsreceivablewithprovisionforbaddebtsbasedonportfolios
230,062.48100.00%74,075.6032.20%155,986.88500,510.47100.00%74,075.6014.80%426,434.87Total230,062.48100.00%74,075.6032.20%155,986.88500,510.47100.00%74,075.6014.80%426,434.87
Provisionforbaddebtsbasedonsingleitem:nilProvisionforbaddebtbasedonportfolios:nilIftheprovisionforbaddebtsofaccountsreceivableismadeinaccordancewiththegeneralmodelofexpectedcreditlosses,pleaserefertothedisclosureofotherreceivablestodisclosetherelatedinformationonbaddebts:
□Applicable√Notapplicable
Releasedbyaccountage
InRMB/CNYAccountageEndingbalanceWithin1year(inclusive)139,108.681-2years
566.00
2-3years
785.00
3-4years18,633.004-5years3,397.00Over5years67,572.80Total230,062.48
2019
(2)Provision,reversalorrecoveryofprovisionforbaddebtsintheperiod
Provisionforbaddebtintheperiod
InRMB/CNYCategory
Beginning
balance
Amountchangedintheperiod
EndingbalanceAccrual
Reversalorswitch-back
ChargeoffBasedonportfolios74,075.6074,075.60Total74,075.6074,075.60Includingthemajoramountthatreversalorswitch-backintheperiod:nil
(3)Accountreceivableactuallychargeoffintheperiod:nil
(4)Topfiveaccountsreceivableintermsofendingbalancecollectedbythedebtor
NameRelationshipwith
theCompany
BookbalanceAccountageProportionintotalamountof
accountsreceivable(%)ShanghaiHechengInternational
ServiceCo.,Ltd.
Non-relatedparty35,788.40Within1year15.56%YangpuHuayuRoadandBridgeTechnologyCo.,Ltd.
Non-relatedparty18,633.00Over5years8.10%GuangzhouInstituteofDesignNon-relatedparty38,980.00Over5years16.94%ShenzhenTenpayTechnologyCo.,Ltd.Non-relatedparty46,621.46Within1year20.26%TianjinWatermelonTourismLimitedLiabilityCompany
Non-relatedparty24,414.82Within1year10.61%Total164,437.6871.47%
(5)Accountreceivablethatareterminatedduetofinancialassetstransfer:nil
(6)Assetsandliabilitiesresultedbyaccountreceivabletransferandcontinuesinvolvement:nil
6.Receivablefinancing:nil
7.Advancepayment
(1)Disclosureofadvancepaymentbyaccountage
InRMB/CNYAccountage
EndingbalanceBeginningbalanceAmountProportionAmountProportionWithin1year396,882.60100.00%39,960.01100.00%
2019
Total396,882.60--39,960.01--Explanationonreasonsoffailuretosettleonimportantadvancepaymentwithageoveroneyear:Nil
(2)TopfiveadvancespaymentintermsoftheendingbalancecollectedbytheprepaidobjectShenzhenJ&JSpaceDesignCo.,Ltd.213,592.2353.82%SanyaShengxiangMechatronicsEngineeringCo.,Ltd.110,415.0027.82%HainanHaolongFireEngineeringCo.,Ltd.58,925.3714.85%SanyaXingcaiElectricalCo.,Ltd.13,230.003.33%BusinessDailyofInternationalTourismIsland720.000.18%
Total396,882.60Otherexplanation:nil
8.Otherreceivable
InRMB/CNYItemEndingbalanceBeginningbalanceOtherreceivable1,242,181.64458,242.73Total1,242,181.64458,242.73
(1)Interestreceivable:Nil
(2)Dividendreceivable:Nil
(3)Otheraccountreceivables
1)Otheraccountreceivabledisclosedbynature
InRMB/CNYNatureEndingbookbalanceOpeningbookbalanceUtilitybills206,254.34185,368.69Pettycash838,955.14133,411.23Attorneyfee77,534.2577,534.25Courtcost62,970.00Socialinsuranceandhousingprovidentfunds57,803.9163,264.56Deposit600.00600.00Total1,244,117.64460,178.73
2)Provisionforbaddebt:nil
Changeofthebookbalanceformajoramountchangedinlossprovision
□Applicable√Notapplicable
Releasedbyaccountage
InRMB/CNY
2019
AccountageEndingbalanceWithin1year(inclusive)1,241,881.644-5years600.00Over5years1,636.00Total1,244,117.64
3)Provision,reversalorrecoveryofprovisionforbaddebtsintheperiodProvisionforbaddebtintheperiod
InRMB/CNYCategoryBeginningbalance
Amountchangedintheperiod
EndingbalanceAccrual
Reversalorswitch-backBasedonportfolios1,936.001,936.00Total1,936.001,936.00Includingmajoramountreversalorswitch-backintheperiod:nil
4)Otherreceivablesactuallychargeoffintheperiod:nil
5)Topfiveotheraccountsreceivableintermsofendingbalancecollectedbythedebtor
InRMB/CNYNameNature
Endingbalance
Accountage
Proportionintotalamountofotheraccountsreceivableatperiod-end
EndingbalanceofprovisionforbaddebtWenPingPettycash710,000.00
Within1year
57.16%0.00HainanNewConceptLawFirm
Attorneyfee77,534.25
Within1year
6.23%0.00PengGuoxingUtilitybills70,422.98
Within1year
5.66%0.00SanyaSuburbsPeople’sCourt
Courtcost62,970.00
Within1year
5.06%0.00GuoYuboPettycash60,369.61
Within1year
4.85%0.00Total--981,296.84--78.88%0.00
6)Accountreceivablesrelatedtogovernmentsubsidies:Nil
7)Otherreceivableforterminationofconfirmationduetothetransferoffinancialassets:Nil
8)Theamountofassetsandliabilitiesthataretransferredotherreceivableandcontinuedtobeinvolved:Nil
9.Inventories
Whetherthenewrevenuestandardsbeenimplemented
□Yes√No
(1)categoryofinventories
InRMB/CNY
2019
Item
EndingbalanceBeginningbalanceBookbalance
Provisionforpricedecline
BookvalueBookbalance
Provisionforpricedecline
BookvalueRawmaterials836,342.72683,941.58152,401.14870,043.52725,731.58144,311.94Finishedgoods22,771.3811,102.4111,668.9722,771.3811,102.4111,668.97Foodandbeverage
12,526.8212,526.8243,935.1043,935.10Fuel15,096.6415,096.6421,474.1821,474.18Total886,737.56695,043.99191,693.57958,224.18736,833.99221,390.19DoestheCompanycomplywiththedisclosurerequirementof“InformationDisclosureGuidelinesofShenzhenStockExchangeNo.4–ListedCompaniesEngagedinSeedIndustryandPlantingBusiness”ornotNo
(2)Provisionforinventorydepreciation
InRMB/CNYItem
Beginningbalance
IncreaseintheperiodDecreaseintheperiod
EndingbalanceAccrualOthers
Reversalorwrite-off
OthersRawmaterials725,731.5841,790.00683,941.58Finishedgoods11,102.4111,102.41Total736,833.9941,790.00695,043.99
(3)Explanationoncapitalizationofborrowingcostsatendingbalanceofinventory:Nil
(4)Assetscompletedwithoutunsettlementfromconstructioncontractatperiod-end:Nil
10.Contractassets:nil
11.Assetsheldforsale:nil
12.Non-currentassetsmaturingwithinoneyear:nil
13.Othercurrentassets
Whetherthenewrevenuestandardsbeenimplemented
□Yes√No
InRMB/CNYItemEndingbalanceBeginningbalanceEnterpriseincometaxpaidinadvance1,702,702.801,702,702.80Inputtaxtobededucted385,035.78103,556.98Prepaidpendingexpenses37,880.5839,960.01Total2,125,619.161,846,219.79
2019
Otherexplanation:nil
14.Creditorsinvestment:nil
15.Othercreditorsinvestment:nil
16.Long-termaccountreceivable:nil
17.Long-termequityinvestment:nil
18.Investmentinotherequityinstrument:nil
19.Othernon-currentfinancialassets:nil
20.Investmentproperty
(1)Investmentpropertiesmeasuredatcost
√Applicable□Notapplicable
InRMB/CNYItemHousesandbuildingsLanduserights
Constructioninprocess
TotalI.Originalbookvalue
1.Beginningbalance18,856,504.445,662,740.5924,519,245.03
2.Increaseintheperiod
(1)Outsourcing
(2)Transferfrom
inventories/fixedassets/constructioninprocess
(3)Increasefrombusiness
combinations
3.Decreaseintheperiod
(1)Disposal
(2)Othertransfer-out
4.Endingbalance18,856,504.445,662,740.5924,519,245.03II.Accumulateddepreciationandaccumulatedamortization
1.Beginningbalance10,607,583.542,219,726.4512,827,309.99
2.Increaseintheperiod209,091.7828,170.00237,261.78
(1)Accrualoramortization209,091.7828,170.00237,261.78
2019
3.Decreaseintheperiod
(1)Disposal
(2)Othertransfer-out
4.Endingbalance10,816,675.322,247,896.4513,064,571.77III.Provisionforimpairment
1.Beginningbalance1,404,400.471,903,054.143,307,454.61
2.Increaseintheperiod
(1)Accrual
3.Decreaseintheperiod
(1)Disposal
(2)Othertransfer-out
4.Endingbalance1,404,400.471,903,054.143,307,454.61IV.Bookvalue
1.Endingbookvalue6,635,428.651,511,790.008,147,218.65
2.Openingbookvalue6,844,520.431,539,960.008,384,480.43
(2)Investmentrealestatemeasuredbyfairvalue
□Applicable√Notapplicable
(3)Investmentrealestatewithoutpropertycertificationheld:Nil
21.Fixedassets
InRMB/CNYItemEndingbalanceBeginningbalanceFixedassets34,997,520.1636,497,869.65Total34,997,520.1636,497,869.65
(1)Fixedassetsdetails
InRMB/CNYItem
Housesandbuildings
Mechanicalequipment
Transportationequipment
Electronicequipment
Otherequipment
TotalI.Originalbookvalue
1.Beginningbalance136,789,501.8211,033,550.542,345,074.912,664,528.391,926,451.84154,759,107.50
2.Increaseintheperiod20,635.8720,101.9440,737.81
(1)Purchase20,635.8720,101.9440,737.81
(2)Transferfrom
constructioninprocess
2019
(3)Increasefrombusiness
combinations
3.Decreaseintheperiod1,420,474.00619,394.00193,633.452,233,501.45
(1)Disposalorscrap1,420,474.00619,394.00193,633.452,233,501.45
4.Endingbalance136,789,501.829,613,076.542,345,074.912,065,770.261,752,920.33152,566,343.86II.Accumulateddepreciation
1.Beginningbalance72,499,344.507,970,060.881,587,022.541,938,853.101,224,791.4785,220,072.49
2.Increaseintheperiod1,087,717.44143,758.4882,783.9287,864.9387,053.971,489,178.74
(1)Accrual1,087,717.44143,758.4882,783.9287,864.9387,053.971,489,178.74
3.Decreaseintheperiod1,008,698.30595,910.37173,760.821,778,369.49
(1)Disposalorscrap1,008,698.30595,910.37173,760.821,778,369.49
4.Endingbalance73,587,061.947,105,121.061,669,806.461,430,807.661,138,084.6284,930,881.74III.Provisionforimpairment
1.Beginningbalance31,072,788.171,968,377.1933,041,165.36
2.Increaseintheperiod
(1)Accrual
3.Decreaseintheperiod403,223.40403,223.40
(1)Disposalorscrap403,223.40403,223.40
4.Endingbalance31,072,788.171,565,153.7932,637,941.96IV.Bookvalue
1.Endingbookvalue32,129,651.71942,801.69675,268.45634,962.60614,835.7134,997,520.16
2.Openingbookvalue33,217,369.151,095,112.47758,052.37725,675.29701,660.3736,497,869.65
2019
(2)Temporarilyidlefixedassets:Nil
(3)Fixedassetsacquiredbyfinancinglease:Nil
(4)Fixedassetsacquiredbyoperatinglease:Nil
(5)Certificateoftitleun-completed:Nil
(6)Disposaloffixedassets:Nil
22.Constructioninprocess:Nil
23.Productivebiologicalasset
(1)Measuredbycost
□Applicable√Notapplicable
(2)Measuredbyfairvalue
□Applicable√Notapplicable
24.Oilandgasassets
□Applicable√Notapplicable
25.Right-of-useassets:Nil
26.Intangibleassets
(1)Intangibleassets
InRMB/CNYItemLanduserightsPatentright
Non-patentstechnology
TotalI.Originalbookvalue
1.Beginningbalance81,653,137.1581,653,137.15
2.Increaseinthe
period
(1)Purchase
(2)Internalresearch
anddevelopment
(3)Increasefrom
businesscombinations
2019
3.Decreaseintheperiod
(1)Disposal
4.Endingbalance81,653,137.1581,653,137.15II.Accumulatedamortization
1.Beginningbalance32,007,051.2732,007,051.27
2.Increaseinthe
period
406,193.58406,193.58
(1)Accrual406,193.58406,193.58
3.Decreaseinthe
period
(1)Disposal
4.Endingbalance32,413,244.8532,413,244.85III.Provisionforimpairment
1.Beginningbalance27,440,836.8427,440,836.84
2.Increaseinthe
period
(1)Accrual
3.Decreaseinthe
period
(1)Disposal
4.Endingbalance27,440,836.8427,440,836.84IV.Bookvalue
1.Endingbookvalue21,799,055.4621,799,055.46
2.Openingbookvalue22,205,249.0422,205,249.04RatiooftheintangibleassetsfrominternalR&Dinbalanceofintangibleassetsatperiod-endwas0%.
(2)Landuserightswithoutcertificateofownership:Nil
27.Developmentexpenditure:Nil
28.Goodwill:Nil
29.Long-termdeferredexpenses
InRMB/CNY
2019
Item
Beginning
balance
Increaseinthe
period
Amortizationin
theperiod
OtherdecreasedEndingbalanceMaintenancefeeformainenginesystemofthecentralAC
50,116.5050,116.50RenovationofguestroomsinBuilding-B
486,974.57292,184.70194,789.87FirestairsrenovationinBuilding-A45,695.208,567.8237,127.38RenovationofguestroomsinBuilding-C,villaandswimmingpool
2,260,206.30301,360.801,958,845.50Total2,792,876.0750,116.50602,113.322,240,879.25
Otherexplanation:nil
30.Deferredincometaxassetsanddeferredincometaxliabilities:Nil
31.Othernon-currentassets
Whetherthenewrevenuestandardsbeenimplemented
□Yes√No
Otherexplanation:nil
32.Short-termloans:Nil
33.Tradingfinancialliability:nil
34.Derivativefinancialliability:nil
35.Notespayable:Nil
36.Accountspayable
(1)Presentationofaccountspayable
InRMB/CNYItemEndingbalanceBeginningbalancePaymentforpurchase170,266.19687,690.30Accountspayableprovisionallyestimated
660,218.61534,359.35Servicecharges93,168.29155,368.88Paymentforprojects14,274.10134,274.10Elevatormaintenancefee31,670.0031,670.00Advertisementfees30,500.3031,195.28Consignmentsales22,335.90Other1,093.0010,942.00
2019
Waterrate52,428.54Naturalgasfee23,398.40Total1,077,017.431,607,835.81
(2)Majoraccountpayablewithoveroneyearaccountage:nil
37.Advancesfromcustomers
Whetherthenewrevenuestandardsbeenimplemented
□Yes√No
(1)Presentationofadvancesfromcustomers
InRMB/CNYItemEndingbalanceBeginningbalanceRoomandmealcharge779,681.121,291,293.05Total779,681.121,291,293.05
(2)Significantadvancesfromcustomerswithagingmorethanoneyear
InRMB/CNYItemEndingbalance
Reasonsforfailureofrepaymentor
carry-forwardGuangzhouNanbuHolidayInternationalTravelServiceCo.,Ltd.SanyaBranch
101,244.00UnsettledHainanXiangyuanTourismDevelopmentCo.,Ltd.39,851.00UnsettledPEGASZhengQingbo32,243.02UnsettledHainanQiongzhongEcologicalInvestmentGuaranteeCo.,Ltd.
22,926.00UnsettledSanyaCityPublicSecurityFireBrigade19,420.88UnsettledTotal215,684.90--
(3)Projectssettlementwithoutunfinishedatperiod-endfromconstructioncontract:Nil
38.Contractliability:nil
39.Employeecompensationpayable
(1)Classificationofemployeecompensationpayable
InRMB/CNYItemBeginningbalance
Increaseintheperiod
DecreaseintheperiodEndingbalance
2019
I.Short-termcompensation2,841,262.356,031,396.037,044,691.321,827,967.06II.Post-employmentbenefits-definedcontributionplans
547,368.99547,368.99Total2,841,262.356,578,765.027,592,060.311,827,967.06
(2)Presentationofshort-termcompensation
InRMB/CNYItemBeginningbalance
Increaseintheperiod
DecreaseintheperiodEndingbalance
1.Salaries,bonuses,
allowancesandsubsidies
1,762,269.704,759,360.015,722,074.66799,555.05
2.Employeewelfareexpenses759,981.75759,981.75
3.Socialinsurancepremiums255,539.72255,539.72Including:medicalinsurancepremiums
236,205.39236,205.39Work-relatedinjuryinsurancepremiums
4,568.364,568.36Maternityinsurancepremiums
14,765.9714,765.97
4.Housingprovidentfunds90,050.0090,050.00
5.Laborunionexpenditures
andemployeeeducationfunds
1,078,992.65166,464.55217,045.191,028,412.01Total2,841,262.356,031,396.037,044,691.321,827,967.06
(3)Presentationofdefinedcontributionplans
InRMB/CNYItemBeginningbalanceIncreaseintheperiodDecreaseintheperiodEndingbalance
1.Basicendowment
insurancepremiums
532,614.48532,614.48
2.Unemployment
insurancepremiums
14,754.5114,754.51Total547,368.99547,368.99Otherexplanation:nil
40.Taxespayable
InRMB/CNYItemEndingbalanceBeginningbalanceValueaddedtax(VAT)565,131.47146,863.56Individualincometax25,850.99-0.02Urbanmaintenanceandconstructiontax2,108.62761.67
2019
Housingpropertytax97,050.95194,101.69Landusetax54,295.47108,590.92Educationsurtax903.68326.42Localeducationsurtax602.48217.63Total745,943.66450,861.87Otherexplanation:nil
41.Otheraccountpayable
InRMB/CNYItemEndingbalanceBeginningbalanceOtheraccountpayable2,942,968.712,727,483.66Total2,942,968.712,727,483.66
(1)Interestpayable:Nil
(2)Dividendpayable:Nil
(3)Otheraccountpayable
1)Presentationofotheraccountpayablebynature
InRMB/CNYItemEndingbalanceBeginningbalanceEmployeedormitoryrentalfees,etc.975,525.11971,723.12Margin20,000.00890,958.75Auditfee285,003.21285,003.21Qualityguaranteedepositforprojects204,180.90190,344.00Employeedeposit86,520.00165,700.90Paymentforprojects161,111.03162,569.78Fundscollectedandremitted793,268.5736,408.47Individualcurrentamounts1,315.341,364.00Electricchargeswithheld24,494.5523,411.43Announcementfee391,550.00Total2,942,968.712,727,483.66
2)Othersignificantaccountpayablewithagingofoveroneyear
InRMB/CNYItemEndingbalanceReasonsforfailureofrepaymentorcarry-forwardYangpuJinyuIndustrialCo.,Ltd.627,000.00UnsettledHongKongDeloitte&ToucheLLP285,003.21UnsettledSanyaShuxinHousingWaterproofEngineeringCo.,Ltd.
170,000.00Unsettled
2019
ChinaBuildingDecorationCompanyHainanBranch
161,111.03UnsettledTotal1,243,114.24--Otherexplanation:nil
42.Liabilityheldforsale:Nil
43.Non-currentliabilityduewithinoneyear:Nil
44.Othercurrentliability:Nil
45.Long-termloans:Nil
46.Bondpayable:Nil
47.Leaseliability:nil
48.Long-termaccountpayable:nil
49.Long-termemployeepayable:nil
50.Estimatedliabilities
Whetherthenewrevenuestandardsbeenimplemented
□Yes√No
InRMB/CNYItemEndingbalanceBeginningbalanceReasonsOther1,489,685.041,489,685.04
ProvisionsforarrearsofelectricitytariffsTotal1,489,685.041,489,685.04--Otherexplanation,includingimportantassumptionsandestimationforthemajoraccrualliability:nilOnMay26,2016,theCompanyreceivedalawyerletterfromHainanYunfanLawFirmentrustedbySanyaPowerSupplyBureauofHainanPowerGridCo.,Ltd.(hereinafterreferredtoas"SanyaPowerSupplyBureau"),sayingthatSanyaPowerSupplyBureaufound,inverifyingelectricityconsumptionbySouthChinaHotel,asubsidiaryoftheCompany,thatthecurrenttransformer(CT)installedinthedistributioncentermeteringcountersinSouthChinaHotelinstalledwasinconsistentwiththerecordinthemarketingmanagementsystemfileofSanyaPowerSupplyBureau,andthedurationoftheinconsistencewasfromJuly2006whenSouthChinaHotelchangeditselectricityconsumptionmeasuringdevicetoApril2016.Accordingtothestatistics,electricityconsumptionof10313373KWHwasmeasuredinshort,whichwasestimatedtobevaluedatRMB7,200,165.75accordingtotheelectricitypricesandsurchargeratesintheyears.AccordingtotheLegalConsultationAdviceonElectricityQuantity(ElectricityCharge)ClaimingDisputebetweenSouthChinaHotelandSanyaPowerSupplyBureauissuedbyBeijingJunhe(Haikou)LawFirmonDecember20,2016,asallelectricity
2019
consumptionmeteringdevicesarepurchased,installed,sealed,openedandreplacedbySanyaPowerSupplyBureauResponsible,theshortmeasurementofelectricitychargefromSouthChinaHotelformanyyearswasduetothefaultofSanyaPowerSupplyBureau,andwasirrelevanttoSouthChinaHotel.PursuanttoArticle135oftheGeneralPrinciplesofCivilLaw:"Exceptasotherwisestipulatedbylaw,thelimitationofactionregardingapplicationstoapeople'scourtforprotectionofcivilrightsshallbetwoyears.,theCompanyaccruedanamountofRMB1,489,685.04fortheelectricitychargeforelectricityquantitymeasuredinshortduringtwoyearsfromApril2014toApril2016.
51.Deferredincome:nil
52.Othernon-currentliability:nil
Whetherthenewrevenuestandardsbeenimplemented
□Yes√No
53.Sharecapital
InRMB/CNYBeginningbalance
Changes("+"forincreaseand"-"fordecrease)
EndingbalanceIssuanceofnewshares
Sharedonation
Publicreservetransferredto
shares
OthersSub-totalTotalshares364,100,000.00364,100,000.00Otherexplanation:nil
54.Otherequityinstrument:nil
55.Capitalreserves
InRMB/CNYItemBeginningbalanceIncreaseintheperiodDecreaseintheperiodEndingbalanceCapitalpremium(sharepremium)
33,336,215.5833,336,215.58Othercapitalreserves20,806,634.4320,806,634.43Total54,142,850.0154,142,850.01Otherexplanation,includingchangesintheperiodandreasons:nil
2019
56.Treasurystock:nil
57.Otherconsolidatedincome:nil
58.Reasonablereserve:nil
59.Surplusreserves:nil
60.Undistributedprofits
InRMB/CNYItemCurrentperiodLastperiodUndistributedprofitsattheendoflastyearbeforeadjustment-340,454,153.72-341,107,435.91Undistributedprofitsatthebeginningoftheyearafteradjustment-340,454,153.72-341,107,435.91Plus:netprofitattributabletoownersoftheparentcompanyincurrentperiod755,974.011,282,165.58Undistributedprofitasattheendoftheyear-339,698,179.71-339,825,270.33Detailsaboutadjustingtheretainedprofitsatthebeginningoftheperiod:
1)TheretroactiveadjustmentstoAccountingStandardsforBusinessEnterprisesanditsrelevantnewregulationsaffecttheretainedprofitsatthebeginningoftheperiodamountingto0Yuan.
2)Thechangesinaccountingpoliciesaffecttheretainedprofitsatthebeginningoftheperiodamountingto0Yuan.
3)Themajoraccountingerrorcorrectionaffectstheretainedprofitsatthebeginningoftheperiodamountingto0Yuan
4)Mergescopechangescausedbythesamecontrolaffecttheretainedprofitsatthebeginningoftheperiodamountingto0Yuan.
5)Otheradjustmentsaffecttheretainedprofitsatthebeginningoftheperiodamountingto0Yuan
61.Operatingincomeandoperatingcosts
InRMB/CNYItem
CurrentperiodLastperiodIncomeCostIncomeCostMainbusiness14,241,961.045,514,477.9316,173,929.326,000,063.36Total14,241,961.045,514,477.9316,173,929.326,000,063.36Whetherthenewrevenuestandardsbeenimplemented
□Yes√No
Otherexplanation:nil
62.Taxesandsurcharges
InRMB/CNYItemCurrentperiodLastperiodUrbanmaintenanceandconstructiontax31,410.8437,515.65Educationsurtax22,436.3126,796.89Housingpropertytax215,587.50431,174.78
2019
Landusetax108,590.94217,181.82Vehicleandvesselusetax5,220.003,669.06Stamptax233.91182.70Total383,479.50716,520.90Otherexplanation:nil
63.Salesexpenses
InRMB/CNYItemCurrentperiodLastperiodStaffwagesandbenefits1,834,677.001,841,236.40Socialworkersinsuranceexpenses302,950.00285,734.45Depreciation259,401.60256,486.12Utilitybills99,980.1384,101.36Repaircharges95,930.1758,716.18Otherexpenses217,053.04274,681.59Total2,809,991.942,800,956.10Otherexplanation:nil
64.Administrativeexpenses
InRMB/CNYItemCurrentperiodLastperiodStaffwagesandbenefits2,789,891.552,809,454.64Socialworkersinsuranceexpenses321,053.70266,303.18Entertainmentexpenses219,787.57496,075.07Travellingexpenses149,081.9868,678.82Amortizationforthedepreciationandlanduseright
567,140.44550,590.01Announcementfeeandagencycharge655,420.00656,245.72Otherexpenses369,424.97509,107.77Total5,071,800.215,356,455.21Otherexplanation:nil
65.R&Dexpenses:nil
66.Financialexpenses
InRMB/CNYItemCurrentperiodLastperiodHandlingcharges18,965.0340,293.06Less:interestincome-152,697.12-22,729.87
2019
Total-133,732.0917,563.19Otherexplanation:nil
67.Otherincome:nil
68.Investmentincome:nil
69.Netopenhedgingbenefits:nil
70.Gainsfromfairvaluechanges:nil
71.Creditimpairmentloss:nil
72.Lossesonassetsimpairment:nil
Whetherthenewrevenuestandardsbeenimplemented
□Yes√No
73.Incomefromassetsdisposal:nil
74.Non-operatingincome
InRMB/CNYItemCurrentperiodLastperiodAmountincludedinnon-recurringprofitandlossinthecurrentperiod
Other160,030.46273.00160,030.46Total160,030.46273.00160,030.46Governmentsubsidiesreckonedintocurrentgains/losses:nil
75.Non-operatingexpenses
InRMB/CNYItemCurrentperiodLastperiod
Amountincludedinnon-recurringprofitandlossinthecurrentperiodGains/lossesfromnon-currentassetsscrapping477.98Total477.98Otherexplanation:nil
2019
76.Incometaxexpenses
(1)Statementofincometaxexpenses:nil
(2)Adjustmentprocessofaccountingprofitandincometaxexpenses
InRMB/CNYItemCurrentperiodTotalprofit755,974.01Makeuptheannuallossesofpreviousyears755,974.01Otherexplanation:nil
77.Othercomprehensiveincome
SeeNote
78.Notestoitemsofthecashflowstatement
(1)Cashreceivedfromotheroperatingactivities
InRMB/CNYItemCurrentperiodLastperiodInterestincome152,697.1222,729.87Otherexpenses952,744.76661,422.77Total1,105,441.88684,152.64Explanation:nil
(2)Cashpaidforotheroperatingactivities
InRMB/CNYItemCurrentperiodLastperiodSocialintercoursefees221,362.57497,075.07Intermediaryauditfee400,000.00400,000.00Announcementfee238,420.00220,000.00Travellingexpenses151,940.0972,159.01Promotionfee92,705.15109,649.14Repaircharges211,454.36163,503.73Otherexpenses978,613.63212,185.21Total2,294,495.801,674,572.16Explanation:nil
2019
(3)Cashreceivedfromotherinvestmentactivities:nil
(4)Cashpaidforotherinvestingactivities:nil
(5)Cashreceivedfromotherfinancingactivities:nil
(6)Cashpaidforotherfinancingactivities:nil
79.Supplementaryinformationtostatementofcashflows
(1)Supplementaryinformationtostatementofcashflows
InRMB/CNYItemCurrentperiodLastperiod1Netprofitadjustedtocashflowsfromoperatingactivities----Netprofits755,974.011,282,165.58Depreciationoffixedassets,depreciationanddepletionofoilandgasassetsanddepreciationofproductivebiologicalassets
1,698,270.521,799,584.50Amortizationofintangibleassets434,363.58434,363.58Amortizationoflong-termfeestoapportioned602,113.32609,770.58Lossfromfixedassetsscrapping("-"forgains)477.98Decreasesininventories("-"forincreases)29,696.62-37,615.58Decreasesinoperatingreceivables("-"forincreases)-513,490.92-326,357.40Increasesinoperatingpayable("-"fordecreases)-1,737,510.48-651,711.64Netcashflowsfromoperatingactivities1,269,416.653,110,677.60
2.Significantinvestingandfinancingactivitiesnotinvolving
cashreceiptsandpayments
----
3.Netchangesincashandcashequivalents----Balanceofcashattheendoftheperiod16,110,895.9511,751,658.64Less:balanceofcashatthebeginningoftheperiod15,364,355.309,681,607.16Netincreaseincashandcashequivalents746,540.652,070,051.48
(2)Netcashpaymentfortheacquisitionofasubsidiaryofthecurrentperiod:nil
(3)Netcashreceivedfromthedisposalofsubsidiaries:nil
(4)Breakdownofcashandcashequivalents
InRMB/CNYItemEndingbalanceBeginningbalanceI.Cash16,110,895.9515,364,355.30
2019
Including:cashonhand476,191.77347,782.65
Unrestrictedbankdeposits15,634,704.1815,016,572.65III.Endingbalanceofcashandcashequivalents16,110,895.9515,364,355.30Otherexplanation:nil
80.Notesforthestatementofownersequitychanges
Explaintheitemsandadjustedamountedwhichhaveadjustedin“Other”oflastyear’sendingbalance:nil
81.Assetswithownershiporuserightrestricted:nil
82.Itemofforeigncurrency
(1)Itemofforeigncurrency:nil
(2)Explanationonforeignoperationalentity,includingasforthemajorforeignoperationalentity,disclosedmainoperationplace,book-keepingcurrencyandbasisforselection;ifthebook-keepingcurrencychanged,explainreasons
□Applicable√Notapplicable
83.Hedging
Releasedtheitemsandrelevantinstrumentsbytypes,andqualitativeandquantitativeinformationforhedgerisks:nil
84.Governmentsubsidy
(1)Governmentsubsidy:nil
(2)Refundofgovernmentsubsidy
□Applicable√Notapplicable
Otherexplanation:nil
2019
85.Other
VIII.Changesofconsolidationrange
1.Enterpriseconsolidationnotunderthesamecontrol
(1)Enterpriseconsolidationnotunderthesamecontrolincurrentperiod:nil
(2)Combinationcostsandgoodwill:nil
(3)Identifiableassets/liabilitiesofthepurchaseeonthedateofpurchase:nil
(4)Gain/lossfromtheequityre-measuredatfairvalueheldbeforepurchasingdate:nilEnterprisecombinedstepbystepthroughmulti-dealingsandobtainedcontrollingrightsinthePeriod
□Yes√No
(5)Explanationoncombinedconsiderationortheidentifiableassetsandliabilities’fairvalueofthepurchasedpartyonpurchasingdateorattheendofthecurrentperiodofmerger,whichisimpossibletodetermineinareasonableway:
(6)Otherexplanation:nil
2.Enterpriseconsolidationunderthesamecontrol
(1)Enterpriseconsolidationunderthesamecontrolincurrentperiod
InRMB/CNY
Combinedparty
Equityratioobtainedincombinatio
n
Basisofcombinedunderthesamecontrol
Combinatio
ndate
Standar
dtodeterminethecombinationdate
Incomeofthe
combinedpartyfromperiod-begin
ofcombinationtothecombinationdate
Netprofitofthecombinedpartyfromperiod-beginofcombinationtothecombinationdate
Incomeofthecombinedpartyduringthecomparisonperiod
NetprofitofthecombinedpartyduringthecomparisonperiodHainanWengaoTouristResourcesDevelopmentCo.,Ltd.
100.00%
Awholly-ownedsubsidiary
8June2018
Establishmentdate
0.00498.790.000.00Otherexplanation:nil
2019
(2)Combinedcost
InRMB/CNYCombinedcostCash500,798.36Bookvalueofthenon-cashassets499,700.43Explanationoncontingentconsiderationandchanges:nilOtherexplanation:nil
(3)Bookvalueoftheassets/liabilitiesfromcombinedpartyatdateofcombination
InRMB/CNYCombiningdatePeriod-endoflastperiodMonetaryFund500,798.361,000,000.00Accountreceivable499,700.43Netassets1,000,498.791,000,000.00Netassetsobtained1,000,498.791,000,000.00Contingentliabilitiesassumedbythemergedpartyinabusinesscombination:nilOtherexplanation:nil
3.Counterpurchase
Basicinformationoftransactions,basisoftransactionsconstitutingcounterpurchase,whetherassetsandliabilitiesreservedbylistedcompaniesconstitutingbusinessandtheirbasis,confirmationofcombinedcost,theamountoccurredwhenadjustingrightsandinterestsinaccordancewithequitytransactionanditscalculation:Nil
4.Disposalofsubsidiaries
Losingcontrollingrightswhiledisposesubsidiaryonone-time
□Yes√No
Disposesubsidiarystepbystepthroughmulti-dealingsandlosingcontrollingrightsinthePeriod
□Yes√No
5.Changesofcombinationscope
Otherreasonscontributedthechangesforcombinationscope(e.g.newsubsidiaryestablished,liquidatesubsidiaryetc.):nil
2019
6.Other
IX.Equityinotherentity
1.Equityinthesubsidiary
(1)Compositionofenterprise
Subsidiary
Mainoperationplace
Registrationplace
Businessnature
Share-holdingratio
GainingmethodDirectlyIn-directlyHainanWengaoTouristResourcesDevelopmentCo.,Ltd.
HainanProvince,China
SanyaCity,China
Industrialdevelopment
100.00%
CashinvestmentAnexplanationfortheshareholdingratiodifferingfromtheshareofthevotingrightsinthesubsidiaries:nilThebasisforholdinghalforbelowofthevotingrightsbutstillcontrollingtheinvestee,andholdingmorethanhalfofthevotingrightsbutnotcontrollingtheinvestee:nilThebasisforimportantstructuredentitiesandcontrolswhichareincludedinthescopeofconsolidation:nilThebasisfordeterminingthecompanyasanagentorasaprincipal:nilOtherexplanation:nil
2019
(2)Majornon-wholly-ownedsubsidiary:nil
(3)Mainfinancialinformationofthemajornon-wholly-ownedsubsidiary:nil
(4)Majorrestrictiononusingthegroup’sassetsandpayingoffdebtsforthegroup:nil
(5)Financialandothersupportsprovidedtothestructuredentitythatincludedinconsolidatefinancialstatementscope:nil
2.Changesintheowner'sequityshareofthesubsidiaryandthetransactionisstillcontrolledsubsidiary
(1)Changesinowners’equityinsubsidiary:nil
(2)Impactonminorityshareholders’equityandowners’equityattributabletoparentcompanyfromthetransaction:nil
3.Equityinarrangementofjointventureorassociatedenterprises
(1)Majorjointventureorassociatedenterprise:nil
(2)Financialinformationofthemajorjointventure:nil
(3)Financialinformationofthemajorassociatedenterprise:nil
(4)Summaryoffinancialinformationforun-importantjointventureandassociatedenterprise:nil
(5)ExplanationofthemajorrestrictionontheabilityoftransferringfundstotheCompanyfromjointventureorassociatedenterprise:nil
(6)Excesslossfromjointventureorassociatedenterprise:nil
(7)Unconfirmedcommitmentsrelatedtojointventureinvestment:nil
(8)Contingentliabilitiesrelatingtotheinvestmentinjointventureorassociatedenterprise:nil
4.Importantcommonmanagement:nil
5.Equityinstructuredentitiesnotincludedintheconsolidatedfinancialstatements:nil
6.Other
X.Risksrelatedtofinancialinstruments
2019
XI.Fairvaluedisclosures
1.Endingfairvalueoftheassetsandliabilitiesmeasuredbyfairvalue:nil
2.Recognizedbasisforthemarketpricesustainingandnon-persistentmeasuredbyfairvalueonfirst-order:nil
3.Thequalitativeandquantitativeinformationforthevaluationtechniqueandcriticalparameterthatsustainingandnon-persistentmeasuredbyfairvalueonsecond-order:nil
4.Thequalitativeandquantitativeinformationforthevaluationtechniqueandcriticalparameterthatsustainingandnon-persistentmeasuredbyfairvalueonthird-order:nil
5.Sensitivityanalysisofnon-observableparametersandadjustmentinformationbetweentheopeningbookvalueandendingbookvaluethatsustainingmeasuredbyfairvalueonthird-order:nil
6.Ifthereareconversionbetweendifferentordersthatsustainingmeasuredbyfairvalue,explaintheconversioncauseandpolicyofdeterminingthetimepointforconversion:nil
7.Thevaluationtechnicalchangeandreasonsoccurredintheperiod:nil
8.Thefairvalueoffinancialassets/liabilitiesthatnotmeasuredunderthefairvalue:nil
9.Other:nil
XII.Relatedpartiesandrelated-partytransactions
1.Parentcompany
Parentcompany
Registeredplace
NatureofBusiness
Registered
Capital
Shareholdingratiointhe
Company
VotingratiointheCompanyLuoniushanCo.,Ltd.
HaikouCity
Plantandculturing
1151.51million
Yuan
17.55%19.80%Note:
Asof30June2019,LuoniushanCo.,Ltd.(hereinafterreferredtoasLuoniushan)anditswholly-ownedsubsidiaryHainanYa’anjuPropertyServiceCo.,Ltd.holds72.092millionsharesoftheCompanyunderA-stock,totallytakes19.80%intotalsharecapitaloftheCompany,anditisthefirstlargestshareholderoftheCompany.UltimatecontrollingpartyoftheCompanyisLuoniushanCo.,Ltd.Otherexplanation:nil
2019
2.SubsidiaryoftheEnterprise
FoundmoreinNotes
3.Jointventureandassociatedenterprise:nil
4.Otherrelatedparty:nil
5.Relatedtransaction
(1)Transactionwithgoodspurchasing,laborserviceoffering/receivingconcernedPurchasinggoods/receivedlaborservice:nilSalesofgoods/providedlaborservice:
InRMB/CNYRelatedpartyContentCurrentperiodLastperiodLuoniushanCo.,Ltd.Roomandmealcharge125,150.00176,779.00Explanation:nil
(2)Associatedtrusteeshipmanagement/contractandtrusteeship/outsourcing:nil
(3)Related-partylease:nil
(4)Related-partyguarantee:nil
(5)Related-partyfundslending:nil
(6)Related-partyassettransferanddebtrestructuring:nil
(7)Keymanagementcompensation:nil
(8)Otherrelatedtransactions:nil
6.Relatedparty’saccountreceivable/payable
(1)Receivable
InRMB/CNYItemRelatedparty
EndingbalanceBeginningbalanceBookbalance
Provisionforbad
debt
Bookbalance
Provisionforbad
debtAccountreceivable
LuoniushanCo.,Ltd.6,387.0013,153.00
2019
(2)Payable:nil
7.Relatedparty’scommitment
8.Other
XIII.Share-basedpayment
1.Share-basedpayment
□Applicable√Notapplicable
2.Settledbyequity
□Applicable√Notapplicable
3.Settledbycash
□Applicable√Notapplicable
4.Modificationandterminationofshare-basepayment
5.Other
XIV.Commitmentsandcontingencies
1.Materialcommitments
MajorcommitmentsonbalancesheetdateTheCompanyhasnocommitmentsthatneedtodiscloseduptobalancesheetdate
2.Contingencies
(1)Majorcontingenciesonbalancesheetdate
OnMay26,2016theCompanyreceivedlawyer’sletterofHainanYunfanlawfirmwhichisentrustedbyHainanPowerGridCo.,LTDSanyaPowerSupplyBureau(hereinafterreferredtoasthe"SanyaPowerSupplyBureau"),theletterclaimsthatSanyaPowerSupplyBureaufoundthattheCompany’ssubsidiarySouthChinaGrandHotelofHainanDadonghaiTourismCentre(Holdings)Co.,Ltd’stheamountofCTisdifferentwithitsmarketingmanagementsystemrecord.TheinconformitytimeisJuly,2006,andthehotel’sCTischangingonApril,2016.Therefore,undercountedelectricityconsumptionamountis10,313,373.00kilowatt-hours,andestimatedcostis7,200,165.75Yuanasvariouselectricitypricesandcharges.
2019
(2)Fornomajorcontingenciesdisclosed,explainreasons
TheCompanyhasnomajorcontingenciesshouldbedisclosed
3.Other
XV.Eventafterbalancesheetdate
1.Majornon-adjustmentevents:nil
2.Profitdistribution:nil
3.Salesreturn:nil
4.Explanationonothereventsafterbalancesheetdate:nilXVI.Othersignificantevents
1.Correctionofaccountingerrorsinpreviousperiods:nil
2.Debtreorganization
3.Assetsexchange
2019
(1)Non-monetaryassetsexchange
(2)Otherassetsexchange
4.Annuityplan
5.Terminationofoperation:nil
6.Segmentinformation
(1)Basisofdeterminationandaccountingpolicyforthereportablesegment
(2)Financialinformationofreportablesegment:nil
(3)Wherethereisnoreportablesegment,orthetotalassetsandliabilitiesforsuchsegmentcannotbereleased,thereasonsshallbeexplained
(4)Otherexplanation
7.Majortradinganditemsshowsinfluenceoninvestors’decision-making
8.Other
InaccordancewiththerequirementsoftheRegulatoryGuidelinesofListedCompaniesNo.4-ActualController,Shareholders,RelatedParties,PurchaserandCommitmentsandFulfillmentofListedCompanies(CSRCAnnouncementNo.[2013]55)ofChinaSecuritiesRegulatoryCommission,onJune7,2014,LuoniushanCo.,Ltd.(hereinafterreferredtoas“Luoniushan”)sentouttheLetteraboutChangingtheCommitmentsofLuoniushanCo.,Ltd.toHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.totheCompany,andmadecommitmentsthatLuoniushanshallactivelyseekreorganizationpartytoreorganizetheassetsofDadonghaiwithinthreeyearsfromthedatetheCompany’sgeneralmeetingofshareholdersconsideredandapprovedthiscommitment.TheabovemattershavebeenconsideredandapprovedbythegeneralmeetingofshareholdersofDadonghaionJune27,2014.OnFebruary22,2017,theCompanyreceivedfromLuoniushanaLetteronProgressinthePlanningofCommitmentImplementation,inwhichLuoniushanintendedtotransfer100%oftheequityitheldintheIndustrialCompany,awholly-ownedsubsidiary(specifically,theIndustrialCompanywillfirstbetransferredwithpartoffinancialassetsequityheldbyLuniushanandof6.91%equityofSanyaRuralCommercialBankCo.,Ltd.)totheCompany,thetransactionwasmadeincashwithtransactionamountofaboutRMB300million.Theproposalwasnotadoptedatthe11thextraordinarymeetingoftheeighthboardofdirectorsoftheCompanyduetotheCompany'slackofsufficientdebtrepaymentability.
2019
OnJune23,2017,LuoniushanissuedtotheCompanyaLetteronChangeinTermofCommitmentbyLuoyunshanCo.,Ltd.toHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.,extendingLuoniushan'sperformanceperiodoftheaboverestructuringcommitmentoftheCompanyby6months,whichmeansthedeadlineforthefulfillmentofreorganizationcommitmentwaschangedtoDecember27,2017.Asthereorganizationwouldtakeacertainamountoftime,onNovember29,2017,Luoniushanagainappliedtoextendtheperformanceperiodofthereorganizationcommitmentfortwoyears,thatis,theperformancedeadlineofthereorganizationcommitmentwaschangedfromDecember27,2017toDecember26,2019,whichwasnotapprovedatthefourthextraordinarygeneralmeetingofshareholdersoftheCompanyin2017.XVII.Noteonfinancialstatementofparentcompany
1.Accountsreceivable
(1)Disclosureofaccountreceivablesbycategory
InRMB/CNYCategory
EndingbalanceBeginningbalanceBookbalance
Provisionforbad
debt
Bookvalue
Bookbalance
Provisionforbad
debtBookvalueAmountRatioAmount
Accrual
ratio
AmountRatioAmount
Accrual
ratioAccountsreceivablewithprovisionforbaddebtsbasedonsingleitemAccountsreceivablewithprovisionforbaddebtsbasedonportfolios
230,062.48100.00%74,075.6032.20%155,986.88500,510.47100.00%74,075.6014.80%426,434.87
Total230,062.48100.00%74,075.6032.20%155,986.88500,510.47100.00%74,075.6014.80%426,434.87Ifthebaddebtprovisionofreceivableareaccrualongeneralmodelofexpectedcreditlosses,relevantbaddebtprovisionshouldreleasedreferencetothedisclosuremethodsforotheraccountreceivable:
□Applicable√Notapplicable
Releasedbyaccountage
InRMB/CNY
2019
AccountageEndingbalanceWithin1year(inclusive)139,108.681-2years566.002-3years785.003-4years18,633.004-5years3,397.00Over5years67,572.80Total230,062.48
(2)Provision,reversalorrecoveryofprovisionforbaddebtsintheperiodProvisionforbaddebtintheperiod
InRMB/CNYCategory
Beginningbalance
Amountchangedintheperiod
EndingbalanceAccrual
Reversalorswitch-back
ChargeoffBasedonportfolios74,075.6074,075.60Total74,075.6074,075.60Includingthemajoramountthatreversalorswitch-backintheperiod:nil
(3)Accountreceivableactuallychargeoffintheperiod:nil
(4)Topfiveaccountsreceivableintermsofendingbalancecollectedbythedebtor
NameRelationshipwith
theCompany
BookbalanceAccountageProportionintotalamountof
accountsreceivable(%)ShanghaiHechengInternational
ServiceCo.,Ltd.
Non-relatedparty35,788.40Within1year15.56%YangpuHuayuRoadandBridgeTechnologyCo.,Ltd.
Non-relatedparty18,633.00Over5years8.10%GuangzhouInstituteofDesignNon-relatedparty38,980.00Over5years16.94%ShenzhenTenpayTechnologyCo.,Ltd.Non-relatedparty46,621.46Within1year20.26%TianjinWatermelonTourismLimitedLiabilityCompany
Non-relatedparty24,414.82Within1year10.61%Total164,437.6871.47%
(5)Accountreceivablethatatterminatedduetothefinancialassetstransfer
(6)Assetsandliabilitiesresultedbyaccountreceivabletransferandcontinuesinvolvement:nilOtherexplanation:nil
2019
2.Otheraccountreceivable
InRMB/CNYItemEndingbalanceBeginningbalanceOtheraccountreceivable1,242,181.64458,242.73Total1,242,181.64458,242.73
(1)Interestreceivable
1)Category:nil
2)Significantoverdueinterest:nil
3)Provisionforbaddebt
□Applicable√Notapplicable
(2)Dividendreceivable
1)Category:nil
2)Significantdividendreceivablewithoveroneyearaccountage:nil
3)Provisionforbaddebt
□Applicable√Notapplicable
(3)Otheraccountreceivable
1)Releasedbynature
InRMB/CNYNatureEndingbookbalanceOpeningbookbalanceUtilitybills206,254.34185,368.69Pettycash838,955.14133,411.23Attorneyfee77,534.2577,534.25Socialinsuranceandhousingprovidentfunds
57,803.9163,264.56Deposit600.00600.00Courtcost62,970.00Total1,244,117.64460,178.73
2)Provisionforbaddebt:nil
Changeofthebookbalanceformajoramountchangedinlossprovision
□Applicable√Notapplicable
Releasedbyaccountage
InRMB/CNYAccountageEndingbalanceWithin1year(inclusive)1,241,881.644-5years600.00
2019
Over5years1,636.00Total1,244,117.64
3)Provision,reversalorrecoveryofprovisionforbaddebtsintheperiodProvisionforbaddebtintheperiod
InRMB/CNYCategoryBeginningbalance
Amountchangedintheperiod
EndingbalanceAccrualReversalorswitch-backBasedonportfolios1,936.001,936.00Total1,936.001,936.00Includingmajorprovisionforbaddebtreversalorswitch-backintheperiod:nil
4)Otheraccountreceivableactuallychargeoffintheperiod:nil
5)Topfiveotheraccountsreceivableintermsofendingbalancecollectedbythedebtor
InRMB/CNYNameNatureEndingbalance
Account
age
Proportionintotalamountofotheraccountsreceivableatperiod-end
EndingbalanceofprovisionforbaddebtWenPingPettycash710,000.00
Within1year
57.07%0.00
HainanNewConceptLawFirm
Attorneyfee77,534.25
Within1year
6.23%0.00
PengGuoxingUtilitybills70,422.98
Within1year
5.66%0.00
SanyaSuburbsPeople’sCourt
Courtcost62,970.00
Within1year
5.06%0.00
GuoYuboPettycash60,369.61
Within1year
4.85%0.00
Total--981,296.84--78.88%0.00
6)Accountreceivablesrelatedtogovernmentsubsidies:Nil
7)Otherreceivableforterminationofconfirmationduetothetransferoffinancialassets:Nil
8)Theamountofassetsandliabilitiesthataretransferredotherreceivableandcontinuedtobeinvolved:Nil
3.Long-termequityinvestment
InRMB/CNYItem
EndingbalanceBeginningbalanceBookbalance
Impairmentprovision
BookvalueBookbalance
Impairment
provision
BookvalueInvestmentforsubsidiary
1,000,000.001,000,000.001,000,000.001,000,000.00Total1,000,000.001,000,000.001,000,000.001,000,000.00
2019
(1)Investmentforsubsidiary
InRMB/CNYInvestedenterprise
Beginning
balance
Increaseintheperiod
Decreaseintheperiod
Endingbalance
Impairmentprovisionincurrentperiod
EndingbalanceofimpairmentprovisionHainanWengaoTouristResourcesDevelopmentCo.,Ltd.
1,000,000.001,000,000.00Total1,000,000.001,000,000.00
(2)Investmentforjointventureandassociatedenterprise:nil
(3)Otherexplanation:nil
4.Operatingincomeandcost
InRMB/CNYItem
CurrentperiodLastperiodIncomeCostIncomeCostMainbusiness14,241,961.045,514,477.9316,173,929.326,000,063.36Total14,241,961.045,514,477.9316,173,929.326,000,063.36Whetherthenewrevenuestandardsbeenimplemented
□Yes√No
Otherexplanation:nil
5.Investmentincome:nil
6.Other
XVIII.Supplementaryinformation
1.Detailsofcurrentnon-recurringprofitsandlosses
√Applicable□Notapplicable
InRMB/CNYItemAmountNoteOther160,030.46Cleanupthelong-termunpaidpayableTotal160,030.46--Concerningtheextraordinaryprofit(gain)/lossdefinedbyQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,andtheitemsdefinedasrecurringprofit(gain)/lossaccordingto
2019
thelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,explainreasons
□Applicable√Notapplicable
2.Returnonequity(ROE)andearningspershare(EPS)
Profitduringthereportingperiod
WeightedaverageROE
EarningspershareBasicEPS(RMB/Share)
DilutedEPS(RMB/Share)NetprofitsattributabletoordinaryshareholdersoftheCompany
0.97%0.00210.0021NetprofitsattributabletoordinaryshareholdersoftheCompanyafterdeductionofnon-recurringprofitsorlosses
0.76%0.00160.0016
3.AccountingdifferencebetweenIFRSandCAS
(1)Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothIAS(InternationalAccountingStandards)andChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable√Notapplicable
(2)Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothforeignaccountingrulesandChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable√Notapplicable
(3)ExplanationondatadifferencesundertheaccountingstandardsinandoutofChina;asforthedifferencesadjustmentauditedbyforeignauditinginstitute,listednameoftheinstitute
4.Other
2019
SectionXI.DocumentsavailableforreferencesI.TextofSemi-AnnualReport2019withsignatureofthelegalperson;II.Financialstatementwithsignatureandsealoflegalperson,personinchargeofaccountingworksandpersoninchargeofaccountingorgan(accountantincharge);III.TheoriginalmanuscriptsofalldocumentsandannouncementsoftheCompanypubliclydisclosedonwebsiteappointedbyCSRC;IV.OtherrelevantdocumentsTheabovesaiddocumentsarepreparedinthesecuritydepartmentoftheCompany
HainanDadonghaiTourismCentre(Holdings)Co.,Ltd.
Chairman:YuanXiaoping8August2019