特力B：2024年半年度报告(英文版)

SHENZENTELLUSHOLDINGCO.,LTD.

2024Semi-annualReport

August2024

SectionIImportantNotes,Contents,andInterpretationsTheBoardofDirectors,theBoardofSupervisorsanddirectors,supervisors,andseniorexecutivesoftheCompanyguaranteethatthepresentsemi-annualreportistrue,accurate,andcompletewithoutfalserecords,misleadingstatements,ormajoromissions,andundertakethejointandseverallegalliabilitiesarisingtherefrom.

FuChunlong,headoftheCompany,HuangTianyang,thepersoninchargeofaccounting,andYuTaiping,thepersoninchargeoftheaccountingfirm(accountantincharge)declaretoguaranteethetruthfulness,accuracy,andcompletenessofthefinancialreportinthissemi-annualreport.

AlldirectorsoftheCompanyhaveattendedthemeetingoftheBoardofDirectorstoreviewthesemi-annualreport.

TheCompanyhasdescribedthepotentialrisksindetailinthisreport.Investorsareherebykindlyrequestedtopayattentiontoandread"X.RisksFacedbytheCompanyandCountermeasures"of"SectionIIIManagementDiscussionandAnalysis"withinthisreport.

TheCompanyhasnoplanstodistributecashdividends,issuebonusshares,andconvertreservedfundsintosharecapital.

TableofContents

SectionIImportantNotes,Contents,andInterpretations ...... 2

SectionIICompanyProfileandMajorFinancialIndicators ...... 6

SectionIIIManagementDiscussionandAnalysis ...... 9

SectionIVCorporateGovernance ...... 24

SectionVEnvironmentalandSocialResponsibility ...... 25

SectionVIImportantMatters ...... 26

SectionVIIChangesinSharesandShareholders ...... 36

SectionVIIIPreferredShares ...... 41

SectionIXBonds ...... 42

SectionXFinancialReport ...... 43

ListofReferenceDocumentsI.Accountingstatementssignedandsealedbythelegalrepresentative,thepersoninchargeofaccounting,andthepersoninchargeoftheaccountingfirm.II.Originalsofallcompanydocumentsandannouncementsthathavebeenpubliclydisclosedduringthereportingperiod.III.TheabovedocumentsforfuturereferenceshallbekeptattheSecretariatOfficeoftheBoardofDirectorsoftheCompany.

Interpretations

Interpretationterm	refersto	Interpretationcontent
CSRC	refersto	ChinaSecuritiesRegulatoryCommission
SZSE	refersto	ShenzhenStockExchange
CSDCShenzhenBranch	refersto	ShenzhenBranchofChinaSecuritiesDepositoryandClearingCorporationLimited
Company,theCompany,andTellusHolding	refersto	SHENZENTELLUSHOLDINGCO.,LTD.
Reportingperiod,thisreportingperiod	refersto	Thefirsthalfof2024
ShenzhenSASAC	refersto	theState-ownedAssetsSupervisionandManagementCommissionofShenzhenMunicipalPeople'sGovernment
SDG,SDGGroup,andcontrollingshareholder	refersto	ShenzhenSpecialEconomicZoneDevelopmentGroupCo.,Ltd.
SIHC	refersto	ShenzhenInvestmentHoldingsCo.,Ltd.
ShenzhenJewelry,SJIS	refersto	ShenzhenJewelryIndustryServiceCo.,Ltd.
Guorun,GuorunGold	refersto	GuorunGoldShenzhenCo.,Ltd.
TellusTreasury,Treasury	refersto	ShenzhenTellusTreasurySupplyChainTreasurySupplyChainCompany
ShanghaiFanyue,Fanyue	refersto	ShanghaiFanyueDiamondCo.,Ltd.
ZhongtianCompany	refersto	ShenzhenZhongtianIndustryCo.,Ltd.
AutomobileIndustryandTradeCompany	refersto	ShenzhenAutomobileIndustryandTradeCo.,Ltd.
SDGHuari	refersto	ShenzhenSDGHuariAutomobileEnterpriseCo.,Ltd.
HuariToyota	refersto	ShenzhenHuariToyotaSales&ServiceCo.,Ltd.
RenfuTellus	refersto	ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.
GAC	refersto	Gems＆JewelryTradeAssociationofChina
TellusJewelryBuilding,JewelryBuilding	refersto	TellusShuibeiJewelryBuilding
TellusGoldandDiamondBuilding,GoldandDiamondBuilding	refersto	TellusGoldandDiamondTradingBuilding
ComprehensiveTradePlatform	refersto	ShenzhenInternationalJewelryandJadeComprehensiveTradePlatform

SectionIICompanyProfileandMajorFinancialIndicatorsI.CompanyProfile

Stockabbreviation	TellusA,TellusB	Stockcode	000025and200025
Stockexchangeonwhichthesharesarelisted	ShenzhenStockExchange
ChinesenameoftheCompany	深圳市特力（集团）股份有限公司
Chineseabbreviation(ifany)	TellusA
EnglishnameoftheCompany(ifany)	SHENZENTELLUSHOLDINGCO.,LTD.
Englishabbreviation(ifany)	N/A
LegalrepresentativeoftheCompany	FuChunlong

II.ContactPersonsandContactInformation

	SecretaryoftheBoardofDirectors	Securitiesaffairsrepresentative
Name	QiPeng	LiuMenglei
Address	3/F,TellusBuilding,2ndShuibeiRoad,LuohuDistrict,Shenzhen	3/F,TellusBuilding,2ndShuibeiRoad,LuohuDistrict,Shenzhen
Tel.	[phone]	[phone]
Fax	[phone]	[phone]
E-mail	[e-mail]	[e-mail]

III.OtherInformation

1.ContactinformationWhethertheCompany'sregisteredaddress,officeaddressandpostalcode,companywebsite,e-mail,etc.changedduringthereportingperiod?

□Applicable?NotapplicableTherewasnochangeintheCompany'sregisteredaddress,officeaddressandpostalcode,website,e-mail,etc.duringthereportingperiod.Pleaserefertothe2023AnnualReportfordetails.

2.Informationdisclosureanddesignatedlocation

Whethertheinformationdisclosureanddesignatedlocationchangedduringthereportingperiod?

□Applicable?NotapplicableThenamesandwebsitesofthestockexchangewebsitesandmediaonwhichtheCompanydisclosedthesemi-annualreportandthedesignatedlocationoftheCompany'ssemi-annualreportremainedunchangedduringthereportingperiod.Fordetails,pleaserefertothe2023annualreport.

3.OtherrelevantinformationWhetherotherrelevantinformationchangedduringthereportingperiod?

□Applicable?Notapplicable

IV.MajorAccountingDataandFinancialIndicators

WhethertheCompanyneedstoretrospectivelyadjustorrestatetheaccountingdataforthepreviousyears

□Yes?No

	Reportingperiod	Sameperiodofthepreviousyear	Increase/decreaseinthereportingperiodoverthesameperiodofthepreviousyear
Operatingrevenue(RMB)	1,580,023,748.85	704,836,410.94	124.17%
Netprofitattributabletoshareholdersofthelistedcompany(RMB)	76,662,479.69	44,139,962.93	73.68%
Netprofitattributabletoshareholdersofthelistedcompanyafternon-recurringgainsandlosses(RMB)arededucted	70,454,786.31	37,650,680.93	87.13%
Netcashflowsfromoperatingactivities(RMB)	107,309,488.92	-10,241,941.90	1,147.75%
Basicearningspershare(RMB/share)	0.1778	0.1024	73.63%
Dilutedearningspershare(RMB/share)	0.1778	0.1024	73.63%
WeightedaverageROE	4.66%	2.89%	1.77%
	Endofthereportingperiod	Endofthepreviousyear	Increase/decreaseattheendofthereportingperiodascomparedwiththeendofthepreviousyear
Totalassets(RMB)	2,493,228,681.47	2,403,851,684.45	3.72%
Netassetsattributabletoshareholdersofthelistedcompany(RMB)	1,667,204,726.70	1,603,905,054.93	3.95%

V.DiscrepancyofAccountingDataundertheDomesticandForeignAccountingStandards

1.DiscrepancyinnetprofitandnetassetsinthefinancialreportdisclosedsimultaneouslyaccordingtointernationalaccountingstandardsandChineseaccountingstandards

□Applicable?NotapplicableThereisnodiscrepancyinnetprofitandnetassetsinthefinancialreportsdisclosedbytheCompanyfollowinginternationalaccountingstandardsandChineseaccountingstandardsinthereportingperiod.

2.DiscrepancyinnetprofitandnetassetsinthefinancialreportdisclosedsimultaneouslyaccordingtooverseasaccountingstandardsandChineseaccountingstandards

□Applicable?NotapplicableThereisnodiscrepancyinnetprofitandnetassetsinthefinancialreportsdisclosedbytheCompanyfollowingoverseasaccountingstandardsandChineseaccountingstandardsinthereportingperiod.VI.Non-recurringProfitorLossItemsandAmounts?Applicable□NotapplicableUnit:RMB

Item	Amount	Note
Profitandlossofnon-currentassetsdisposal(includingthewrite-offpartoftheprovisionforimpairmentofassets)	-227.20
Governmentsubsidiesincludedinthecurrentprofitsandlosses(excludingthosethatarecloselyrelatedtotheCompany'snormalbusinessoperations,inlinewithnationalpoliciesandregulations,andgrantedperdefinedcriteria,withacontinuousinfluenceontheCompany'sprofitsandlosses)	5,606,545.82
ProfitorlossfromchangesinthefairvalueoffinancialassetsandfinancialliabilitiesheldbytheCompanyasanon-financialcompany,aswellasprofitorlossfromthedisposalofthefinancialassetsandfinancialliabilities,exceptineffectivehedgingactivitiesrelatedtothenormaloperatingactivitiesoftheCompany.	2,373,536.49	Mainlyfrommoneymanagementreturns
Othernon-operatingincomesandexpendituresapartfromtheaforesaiditems	1,004,694.78
Less:Amountofinfluenceofincometax	2,237,809.41
Amountofinfluenceofminoritystockholder'sinterests(after-tax)	539,047.10
Total	6,207,693.38

Othergainsorlossesconformingtothedefinitionofnon-recurringgainsorlosses:

□Applicable?NotapplicableTheCompanyhasnoothergainsorlossesconformingtothedefinitionofnon-recurringgainsorlosses.Explanationondefiningthenon-recurringgainsorlossessetoutintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingSecuritiestothePublic—Non-RecurringGainsorLossesasrecurringgainsorlosses

□Applicable?NotapplicableTheCompanydoesnotdefineanynon-recurringgainsorlossessetoutintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingSecuritiestothePublic—Non-RecurringGainsorLossesasrecurringgainsorlosses.

SectionIIIManagementDiscussionandAnalysis

I.MainBusinessoftheCompanyduringtheReportingPeriod(I)ThemainbusinessoftheCompanyduringthereportingperiodincludesjewelrythird-partyservices,commercialcomplexoperations,andpropertyleasingbusiness.

1.Jewelrythird-partyservices:Withthedevelopmentvisionof"beingcommittedtoprovidinghigh-qualityservicesupplyandgrowingwiththejewelryindustry",theCompanyreliesonitsadvantages,gathersdomesticandforeignhigh-qualityindustryresources,andcooperateswithoutstandingleadingenterprisesintheindustrytobuildathird-partyserviceplatformthatmeetstheneedsofthevastindustry.ThecompanyhassetupsubsidiariessuchasShenzhenJewelry,GuorunGold,TellusTreasury,andShanghaiFanyue.Throughtheconstructionandoperationofacomprehensivejewelryandjadetradeplatform,goldcirculationbusiness,andthird-partydepositorybusinessforhigh-endjewelry,itcreatesawiderangeofserviceproductstofullymeetvariousneedsfromcustomersatdifferentlevels,andgraduallybuildsandenrichestheserviceecosystemofthejewelryindustrythroughasoundserviceindustrialchain.Itstrivestofillthemarketgap,solvecustomers'painpoints,playabenchmarkingroleintheindustry,andpromotethecomplianceprocessoftheindustry.

2.Commercialcomplexoperationandpropertyleasingbusiness:TheCompanyisthelargestownerofTellus-GmondGoldJewelryIndustrialParkintheShuibeiarea.TheTellusJewelryBuildingandTellusGoldandDiamondTradingBuildinginvestedbytheCompanyhavebeenputintooperation,maintainingahighoccupancyrate.Inaddition,theCompanyholdsasignificantamountofpropertyresourcesinareassuchasLuohuandFutianinShenzhen.Whilemaintainingthestabilityofitsexistingleasingbusiness,theCompanyactivelypromotestheimprovementofpropertyquality.Itistransitioningitsoldpropertiesfromtraditionalsimpleleasingtocommercialpropertyoperation,withafocusonenhancingandexploringtheaddedvalueofitspropertybrands.Thisinitiativeaimstoestablishinnovativeindustrialprojectsthatalignwiththeoverallstrategiclayoutofthecity,thedistrict,andtheCompany.

(II)Descriptionofthemainbusinessmodelsofthejewelrybusiness

1.SalesmodelAtpresent,theCompanyadoptsbothwholesaleandretailasthemainsalesmodelsforgoldandjewelry.Additionally,itprovidessupportingservicessuchascustomsdeclaration,goldexchange,andsafedepositboxleasing.ThesalesrevenuecompositionofthejewelrybusinessinH12024isasfollows:

Model	Amountofoperatingrevenue(RMB10,000)	Amountofoperatingcost(RMB10,000)	Grossprofitrate
Wholesale	101,708.16	99,565.35	2.11%
Retailsales	41,920.73	41,155.49	1.83%
Otherservices	543.57	321.84	40.79%
Total	144,172.46	141,042.68	2.17%

2.ProductionmodelAtpresent,theCompany'sgoldandrelatedproductsmainlyuseacommissionedprocessingmodel,whilediamonds,coloredgemstones,andotherproductsdonotinvolveprocessing.TheproductionmodecompositioninH12024isasfollows:

Productionmodel	Amount(RMB10,000)	Proportion
Finishedproductsthroughthecommissionedprocessing	140,688.84	100.00%
Total	140,688.84	100.00%

3.Purchasemodel

Goldandrelatedproducts:TheCompanypurchasesgoldrawmaterialsfromShanghaiGoldExchangeorotherqualifiedorganizationsorleasesthemfrombanks;Diamonds:TheCompanypurchasesfinisheddiamondsfromoverseasdiamondsuppliersandimportsthem

throughShanghaiDiamondExchange;

Otherjewelryandjade:TheCompanypurchasessuchproductsfromoverseasjewelryandjadesuppliersand

handlestax-payingimportproceduresthroughShenzhenJewelry.

TheprocurementmodelinH12024isasfollows:

Purchasemodel

Rawmaterials

Purchasequantity

Purchaseamount

		(kg)	(RMB10,000)
Spottrading	Gold	2,698.00	127,457.16
Spottrading	Pandagoldcoin	50.31	2,479.47
Spottrading	Silverpandacoin	352.60	244.31
Rentalbusiness	Gold	36.00	1,540.51
Total		3,136.91	131,721.45

4.Operationalsituationofphysicalstoresduringthereportingperiod

StoreNo.	Address	Openingtime	Salesvolume(kg)inH12024	OperatingrevenueinH12024(RMB10,000)	OperatingcostinH12024(RMB10,000)
1	1/F,TellusJewelryBuilding	September2023	150.01	6,775.46	6,755.53
2	B1,AnnexBuilding,TellusJewelryBuilding	March2024	39.65	1,923.40	1,915.04

5.Onlinesalesduringthereportingperiod

S/N	Storename	Openingtime	OperatingrevenueinH12024(RMB10,000)	OperatingcostinH1(RMB10,000)
1	TellusShuibei'sTmallflagshipstore	November2023	6,350.17	6,202.66
2	TellusShuibei'sJDflagshipstore	November2023	9,855.19	9,385.74
3	"Self-operatedmini-programprivate-spherestore"onWeChat	March2024	131.27	129.34
4	TellusShuibei'sAlibabaauctionstore	May2024	16,792.39	16,675.18
5	TellusShuibei'sPinduoduoflagshipstore	June2024	92.84	91.76

6.Inventoryofgoldandjewelrybusinessduringthereportingperiod

AsofJune30,2024,theinventorybalanceoftheCompany'sjewelrybusinesswasRMB92.1375million,ofwhichtheamountmeasuredatfairvaluewasRMB91.4249million,correspondingtohedgeditemswithcommodityfuturescontractsandT+Dcontractsashedginginstrumentsandthevalueofgoldleasedfromthebank.TheCompanyshallabidebythedisclosurerequirementsoftheGuidelinesofShenzhenStockExchangeforSelf-RegulatorySupervisionofListedCompaniesNo.3-IndustryInformationDisclosurefor"jewelry-relatedbusiness".

II.AnalysisofCoreCompetitiveness

(I)LocationadvantageThecompanyislocatedinShuibei,thecoreareaofthejewelryindustryinShenzhen,andaninfluentialprofessionaltradingcenterinChina'sjewelryindustry.Shuibeioccupiesover70%oftheChinesegoldandjewelrymarketandhousesover10,000goldandjewelryenterpriseswithinaone-square-kilometerareaofitscoreregion.AccordingtodatafromtheShenzhenGold&JewelryAssociation,LuohuDistrictishometomorethan40leadingjewelrycompaniesand29"ChinaFamousCompanies",accountingfor30%ofthetotalinthecountry.ShuibeihasestablishedacompleteindustrialchaincoveringdesignandR&D,productionandmanufacturing,exhibitionandtrading,brandoperation,headquartersoffices,inspectionandtesting,andtalenttraining.TheShuibeiareagathersnumerousjewelrysuppliersandstrongmerchants,providingtheCompanywithanexcellentbusinessenvironmentanddevelopmentplatform.TheCompanycanquicklycapturemarketdynamics,respondpromptlytomarketchanges,andprovidecomprehensivethird-partyjewelryservicesthatmeetindustryneeds.

(II)ResourceadvantageByleveragingtheendorsementofstate-ownedassetsandharnessingindustrialsynergies,theCompanydeeplyintegratesresourcesfromboththesupplyanddemandsidesofthejewelryindustry.ThispositionstheCompanywithacertainadvantageincoordinatingupstreamresources.TheCompanyhasestablisheddirect

cooperationwithdomesticandforeigngoldjewelrysuppliersandprocessorsandheldmanydomesticcommodityinspectionmeetingsandbondedexhibitionstoreducethecostofcommodityinspectionandrawmaterialprocurementandimproveitsoperationefficiency.Inthefirsthalfoftheyear,asecond-handdiamondinspectionmeetingwasheld,showcasingnearly10,000caratsofloosediamondsandroughdiamonds.Theeventattractedover200professionals,withnearly70%comingfrominternationaldiamondbusinessesabroad.Theplatformiscreatinganewtradingmodelforthejewelryelementmarket,introducinggreaterliquidityandflexibility,andinjectingnewvitalityintothediamondmarket.Intermsofcustomerexpansion,theCompanyhasaccumulatedcertainindustryresourcesandinfluence.ItcloselycooperateswiththeGems&JewelryTradeAssociationofChinaandShenzhenGold&JewelryAssociation,activelyparticipatesinandorganizesvariousindustryactivities,participatesintheformulationofindustrystandards,andcontinuouslyexpandsthepopularityandinfluenceoftheindustry.Atthesametime,ithasgraspedthetrendofdigitalizationanddevelopedanonlineplatformthroughdigitaltransformation.Theplatformhaspreliminarilyestablishedacertainlevelofbusinesssupportanddigitalservicecapabilities.

Inaddition,theCompanyhasalsobroughtstablebusinessincomeandcashflowthroughcommercialcomplexoperationsandpropertyvalueimprovement,whichlaysasolidfoundationforitslong-termdevelopment.

(III)Managementadvantage

Intermsofstrategiccontrol,thecompanycontinuestoimproveitsmanagementlevel,strengthenstrategicdecompositionandimplementation,optimizeandadjusttheorganizationalstructure,andenhanceitsfunctionalguaranteecapability.Fromtheperspectiveofpromotingoperationsthroughmanagement,theCompanyhasestablisheda"4S"managementmainlinesystembasedonthemanagementorientationandtheactualsituationoftheCompany.Scientificandclosed-loopmanagementconceptshavebeenestablishedandvariousmanagementlinkshavebeenlinked,whichservetheCompany'sstrategicimplementationinaunifiedway.

Intermsofriskcontrol,theCompanyhasformulatedstrictinternalbusinesscontrolprocessessuchassupplieraccessstandards,acustomerevaluationsystem,andaprocurementpricecomparisonsystemtorealize

multi-levelriskcontrolovercapital,information,andlogistics.Atthesametime,ithasstrengthenedinternalself-inspectionandriskcontrolsystemconstruction,continuouslyoptimizedbusinessprocessesandinternalcontrolsystemsintheprocessofbusinessimplementation,andcarriedoutresearchandinnovationonnewcategoriesandnewbusinessmodelsunderthepremiseofcontrollablerisks.Withthehelpofinformationsystemconstruction,systemdataanalysis,andforesight,theriskearlywarningcapabilityofbusinessandriskcontroldepartmentshasbeenimproved.Intermsofhumanresources,theCompanyhasoptimizedtheemployeeemploymentmechanismandinterviewprocesstounleashorganizationalvitalitythroughtwo-waycommunication.Ithasoptimizedandimprovedthetrainingsystem,establishedamentorshipsystemtorapidlyenhancetheworkcapabilitiesandefficiencyofnewemployees,preliminarilybuiltamiddle-levelmanagementtrainingmechanismcenteredaroundmanagementabilityassessmentandfeedback,andincreasedeffortsintalentdevelopment.

III.AnalysisofMainBusiness

OverviewSee"I.MainBusinessoftheCompanyduringtheReportingPeriod"forrelevantcontent.YoYchangesinmainfinancialdataUnit:RMB

	Reportingperiod	Sameperiodofthepreviousyear	Year-on-yearincrease/decrease	Reasonofchange
Operatingrevenue	1,580,023,748.85	704,836,410.94	124.17%	Thebusinessvolumeofgoldincreasedduringthereportingperiod
Operatingcost	1,451,925,990.76	608,604,638.40	138.57%	Increasingwiththegoldbusinessincrease
Sellingexpenses	10,655,583.07	11,963,099.01	-10.93%
Administrativeexpenses	23,758,940.40	28,817,829.38	-17.55%
Financialexpenses	3,685,893.43	1,391,732.79	164.84%	Themainfactorwasloaninterestexpensesforincreasedgoldbusiness
Incometaxexpenses	19,663,631.30	12,466,659.92	57.73%	Themainreasonwastheincreaseintotalprofitcomparedtothesameperiodlastyear
R&Dinput	1,525,705.48			MainlyR&Dinputforthejewelryplatform
Netcashflowfromoperatingactivities	107,309,488.92	-10,241,941.90	1,147.75%	Firstly,thereductionininventoryforthegoldbusiness;secondly,an

				increaseinrentalincomefromtheTellusGoldandDiamondBuilding.
Netcashflowsfrominvestingactivities	-136,462,605.64	-272,561,687.30	49.93%	Themainreasonisthattheon-maturityredemptionsrelatedtomoneymanagementduringthisreportingperiodincreasedcomparedtothesameperiodlastyear.
Netcashflowsfromfinancingactivities	24,828,865.44	152,917,899.92	-83.76%	Themainreasonisthattheincreaseinloansforthegoldbusinessduringthisreportingperioddecreased.
Netincreaseincashandcashequivalents	-4,323,672.93	-129,885,729.28	96.67%	Firstly,ayear-on-yeardecreaseinmoneymanagementredemptionsduringthereportingperiod;secondly,areductionininventoryforthegoldbusiness;thirdly,anincreaseinrentalincomefromtheTellusGoldandDiamondBuilding.

SignificantchangesintheCompany'sprofitcompositionorsourceduringthereportingperiod

□Applicable?NotapplicableTherearenosignificantchangesintheCompany'sprofitcompositionorsourceduringthereportingperiod.OperatingrevenuecompositionUnit:RMB

	Reportingperiod		Sameperiodofthepreviousyear		Year-on-yearincrease/decrease
	Amount	Proportioninoperatingrevenue	Amount	Proportioninoperatingrevenue
Totaloperatingrevenue	1,580,023,748.85	100%	704,836,410.94	100%	124.17%
分行业
Wholesaleandretailofjewelry	1,441,734,815.25	91.25%	536,696,671.25	76.14%	168.63%
Propertyleaseandservice	138,078,049.35	8.74%	115,235,431.84	16.35%	19.82%
Others	210,884.25	0.01%	52,904,307.85	7.51%	-99.60%
分产品
Wholesaleandretailofjewelry	1,441,734,815.25	91.25%	536,696,671.25	76.14%	168.63%
Propertyleaseandservice	138,078,049.35	8.74%	115,235,431.84	16.35%	19.82%
Others	210,884.25	0.01%	52,904,307.85	7.51%	-99.60%
分地区
SouthChina	1,017,725,204.81	64.41%	648,208,941.49	91.97%	57.01%
EastChina	89,258,835.53	5.65%	0.00	0.00%
NorthChina	426,593,372.53	27.00%	56,627,469.45	8.03%	653.33%
CentralChina	37,329,652.67	2.36%	0.00	0.00%
Otherregions	9,116,683.31	0.58%	0.00	0.00%

Situationofindustries,products,orregionswithoperatingrevenuesoroperatingprofitsaccountingformorethan10%ofthatoftheCompany?Applicable□NotapplicableUnit:RMB

	Operatingrevenue	Operatingcost	Grossprofitrate	Year-on-yearmovementinoperatingrevenue	Year-on-yearmovementinoperatingcost	Year-on-yearmovementingrossprofitrate
Byindustry
Wholesaleandretailofjewelry	1,441,734,815.25	1,410,424,605.61	2.17%	168.63%	170.55%	-0.70%
Propertyleaseandservice	138,078,049.35	41,501,385.15	69.94%	19.82%	7.49%	3.45%
分产品
Wholesaleandretailofjewelry	1,441,734,815.25	1,410,424,605.61	2.17%	168.63%	170.55%	-0.70%
Propertyleaseandservice	138,078,049.35	41,501,385.15	69.94%	19.82%	7.49%	3.45%
分地区
SouthChina	1,017,514,320.56	897,350,269.66	11.81%	70.92%	78.15%	-3.58%
EastChina	89,258,835.53	87,765,772.74	1.67%
NorthChina	426,593,372.53	421,213,393.61	1.26%	653.33%	649.17%	0.55%
CentralChina	37,329,652.67	36,682,757.99	1.73%
Otherregions	9,116,683.31	8,913,796.76	2.23%

TheCompany'smainbusinessdataforthemostrecentperiodafteradjustmentbasedonthecaliberattheendofthereportingperiodifthestatisticalcaliberoftheCompany'smainbusinessdataisadjustedduringthereportingperiod

□Applicable?NotapplicableIV.AnalysisofNon-MainBusiness?Applicable□NotapplicableUnit:RMB

	Amount	Proportionintotalprofit	Reason	Sustainableornot
Investmentincome	14,706,604.25	14.83%	Wealthmanagementincomeandinvestmentincomewiththerecognitionoftheequitymethodofshareholdingenterprises	No
Profitsandlossesofchangesinfairvalue	-2,981,593.36	-3.01%	Changesinfairvalueofunexpiredwealthmanagementproducts,goldleasingbusiness,andhedgingtools	No
Non-operatingincome	1,112,033.25	1.12%	Changesfeeforbusinessestochangecontracts,andtheliquidateddamagesforearlycancellationofleases.	No
Non-operatingexpenses	107,338.47	0.11%	Liquidateddamagesrepaidtobusinessesduetorenovation	No

V.AnalysisofAssetsandLiabilities

1.Majorchangesinassetcomposition

Unit:RMB

	Endofthereportingperiod		Asoftheendofthepreviousyear		Proportionincrease/decrease	Explanationofmajorchanges
	Amount	Proportionintotalassets	Amount	Proportionintotalassets
Cashatbankandonhand	228,605,222.29	9.17%	220,340,961.64	9.17%	0.00%
Accountsreceivable	197,419,232.54	7.92%	99,635,751.52	4.14%	3.78%
Inventories	92,137,538.10	3.70%	178,425,833.88	7.42%	-3.72%
Investmentproperties	992,091,283.53	39.79%	1,008,137,341.80	41.94%	-2.15%
Long-termequityinvestment	81,390,604.97	3.26%	76,511,487.57	3.18%	0.08%
Fixedassets	74,890,303.79	3.00%	78,935,843.49	3.28%	-0.28%
Constructioninprogress	15,159,796.57	0.61%	7,279,570.05	0.30%	0.31%
Right-of-useassets	67,177,997.92	2.69%	71,904,716.50	2.99%	-0.30%
Short-termborrowings	160,119,111.11	6.42%	145,131,694.44	6.04%	0.38%
Contractliabilities	5,509,635.75	0.22%	7,079,975.38	0.29%	-0.07%
Long-termborrowings		0.00%	0.00	0.00%	0.00%
Leaseliabilities	64,188,913.70	2.57%	69,524,214.23	2.89%	-0.32%

2.Primaryoverseasassets

□Applicable?Notapplicable

3.Assetsandliabilitiesatfairvalue

?Applicable□NotapplicableUnit:RMB

Item	Period-beginningamount	Gainsorlossesfromchangesinfairvalueduringthisperiod	Accumulatedchangeinfairvalueincludedinequity	Impairmentaccruedinthisperiod	Purchaseamountinthisperiod	Salesamountinthisperiod	Otherchanges	Period-endamount
Financialassets
1.Trading	206,294,93	219,551.09			411,000,000.0	240,000,000.0		377,514,483.

financialassets(excludingderivativefinancialassets)	1.94			0	0		03
2.Derivativefinancialassets	298,320.00	-298,320.00					0.00
3.Otherdebtinvestments	67,627,948.60	1,706,900.00		62,161,530.32	25,510,300.00		105,986,078.92
4.Otherequityinstrumentinvestments	383,317.67						383,317.67
Subtotaloffinancialassets	274,604,518.21	1,628,131.09		473,161,530.32	265,510,300.00		483,883,879.62
Hedgeditems	85,802,395.07	-420,864.45		1,648,441,608.31	1,664,937,066.37		68,886,072.56
Totaloftheabove	360,406,913.28	1,207,266.64		2,121,603,138.63	1,930,447,366.37		552,769,952.18
Financialliabilities	56,883,334.76	2,208,355.98		17,407,800.00	39,065,860.00		37,433,630.74

OtherchangesWhethermajorchangesoccurredtothemeasurementattributesofthemainassetsoftheCompanywithinthereportingperiod?

□Yes?No

4.Restrictiononassetrightsasattheendofthereportingperiod

(Unit:RMB)

Item	BookvalueonJune30,2024
Futuresandoptionsaccountmargin	4,104,642.60
Goldleasingsecuritydepositsandinterests	40,477,138.89
Marginpayablesecuritydepositsandinterests	28,123,726.04
Total	72,705,507.53

VI.AnalysisofInvestment

1.Overview?Applicable□Notapplicable

Investmentinthereportingperiod(RMB)	Amountofinvestmentinthesameperiodofthepreviousyear(RMB)	Changerange
13,519,694.27	81,253,722.19	-83.36%

2.Significantequityinvestmentacquiredinthereportingperiod

□Applicable?Notapplicable

3.Significantnon-equityinvestmentongoinginthereportingperiod

□Applicable?Notapplicable

4.Financialassetsinvestment

(1)Securityinvestment

□Applicable?NotapplicableTheCompanyhadnosecuritiesinvestmentduringthereportingperiod.

(2)Investmentinderivatives?Applicable□Notapplicable

1)Investmentinderivativesforhedgingpurposesduringthereportingperiod?Applicable□NotapplicableUnit:RMB10,000

Typeofinvestmentinderivatives	Initialinvestmentamount	Period-beginningamount	Gainsorlossesfromchangesinfairvalueduringthisperiod	Accumulatedchangeinfairvalueincludedinequity	Buyingamountduringthereportingperiod	Sellingamountduringthereportingperiod	Period-endamount	ProportionoftheinvestmentamountinnetassetsoftheCompanyattheendofthereportingperiod
Futures(Everbrightaccount)	38.2	0	0	0	221.60	221.60	0	0.00%
Futures(T+Daccount)	77.6	358.15	0	0	701.37	1,055.12	4.39	0.00%
Futures(Huataiaccount)	1,050	667.45	-19.54	0	20,718.97	21,127.95	258.47	0.14%
Revenueswap(CITICaccount)	50	0	0	0	154.18	154.18	0	0.00%
Futures(CITICaccount)	57.2	146.61	-37.96	0	55,199.07	52,727.25	611.90	0.34%
Total	1,273	1,172.21	-57.50	0	76,995.19	75,286.10	874.76	0.48%
Accountingpoliciesandspecificprinciplesofaccountingforhedgingbusinessduringthereportingperiodandwhethertherewasany	No

significantchangeinthemcomparedtothepreviousreportingperiod
Explanationofactualgainsandlossesduringthereportingperiod	Duetotheriseingoldprice,theactualhedginglossoffuturesaccountduringthereportingperiodwasRMB9.8331million.
Explanationofhedgingeffectiveness	Measurementmethodofhedgeeffectiveness:Hedgeeffectiveness=changeinthepriceoffutures/changeinthepriceofspotgoods.Thecloserthisvalueisto100%,thehighertheeffectivenessofthehedgingwillbe.ThelossesfromfuturesduetopricefluctuationsamountedtoRMB9.8331million,whilethespotgoodssawanincreaseofRMB8.3144millionduringthereportingperiod.Thiswasduetothesignificanteffortstoexpandtheonlinee-commerceretailmodelduringthereportingperiod.Additionally,thegoldpricesexperiencedconsiderablevolatilityinMayandJuneofthisreportingperiod,whichweakenedtheeffectivenessofhedgingundertheretailmodel.Overall,theCompany'shedgingstrategyremainseffective.
Sourceoffundsforinvestmentinderivatives	Self-ownedfunds
Riskanalysisandcontrolmeasuresforpositionsinderivativesduringthereportingperiod(includingbutnotlimitedtomarketrisks,liquidityrisks,creditrisks,operationalrisks,andlegalrisks)	TheCompany'shedgingtransactionsfollowthefollowingbasicprinciples:Thevaluechangeoffuturesvarietyandcontractquantityisroughlyequivalenttothatofspotpositions;futurespositionsareintheoppositedirectiontospotpositions;andthetimeperiodinwhichthefuturespositionisheldcorrespondstothetimeperiodinwhichtheriskisbornebythespotmarket.Themainrisksofpositionsingoldfuturesincludebasisrisks,forcedliquidationrisks,andoperationalerrorrisks.1.Forthebasisrisk,whenthebasisriskshrinks,prioritizeusinggoldleasesasinventoryandminimizeorkeepnoproprietarystock;2.Fortheriskofforcedliquidation,establishariskalertsystemthattriggersasetcapitalplanwhentherearesignificantfluctuationsingoldpricetomaintainadequatefundsinmarginaccounts;ifthereisanemergencytriggeringforcedliquidation,reportittotheCompany'smanagementpromptlyandreplenishthehedgingpositionthathasbeenforcedliquidatedinanappropriatetime;3.Fortheriskofoperationalerrors,implementatradertrainingmechanism,strictlyadheretosystemandworkflowrequirementstoperformoperationsandreviewsaccordingly,andprovidedailyreportsconsistently.TheCompanyhasestablishedascientificandeffectivehedgingmanagementsystem,whichisimplementedthroughfourkeyaspects:Organizationalstructuredesign,planningsystems,managementandevaluationprocedures,anddynamicriskmonitoring.
Forchangesinmarketpriceorproductfairvalueduringthereportingperiodofinvestedderivatives,analysisofthefairvalueofderivativesshalldisclosethespecificmeasuresusedandrelatedhypothesesandparametersetting.	Duringthereportingperiod,thefairvaluechangeofthefuturescontracthedgingtheholdingpositionwasRMB-575,000.TheCompanyadoptedtheclosingpriceofthefuturescontractheldintheShanghaiGoldExchangeonthelasttradingdayinJune2024(June28)asthefairvalue,andthefloatingprofitandlosswasthechangeinfairvalue.
Involvementinlitigation(ifapplicable)	None

2)Investmentinderivativesforspeculativepurposesduringthereportingperiod

□Applicable?NotapplicableDuringthereportingperiod,theCompanyhadnoinvestmentinderivativesforspeculativepurposes.

5.Usageofraisedfunds

□Applicable?NotapplicableNoraisedfundswereusedwithinthereportingperiodoftheCompany.

VII.SalesofMajorAssetsandEquity

1.Salesofmajorassets

□Applicable?NotapplicableNomajorassetwassoldduringthereportingperiodoftheCompany.

2.Salesofmajorequity

□Applicable?NotapplicableVIII.AnalysisofMainHoldingCompaniesandJoint-stockCompanies

?Applicable□NotapplicableMainsubsidiariesandjoint-stockcompaniesthathaveanimpactontheCompany'snetprofitof10%ormoreUnit:RMB

Companyname	Companytype	Mainbusiness	Registeredcapital	Totalassets	Netassets	Operatingrevenue	Operatingprofit	Netprofits
ShenzhenJewelryIndustryServiceCo.,Ltd.	Subsidiary	Jewelryfairplanning,jewelryconsignmentsales,exhibitionanddisplayplanning,conferenceservices,andmarketingplanning	100,000,000	60,317,832.10	39,818,475.89	4,885,485.65	3,887,147.28	3,862,947.28
GuorunGoldShenzhenCo.,Ltd.	Subsidiary	Salesofgoldbarsforinvestment,goldrecycling,andgoldpurification/exchangeservices	200,000,000	410,840,604.30	198,582,706.09	1,427,534,581.98	488,490.37	670,179.30
ShenzhenTellusTreasurySupplyChainTreasury	Subsidiary	Purchase,sales,andleasingofgoldornamentsandpreciousmetalproducts,leasingofsafe	50,000,000	118,905,938.53	44,918,583.66	9,245,679.34	-1,506,800.77	-1,506,803.57

SupplyChainCompany		depositboxes,andwarehousingservices
ShenzhenZhongtianIndustryCo.,Ltd.	Subsidiary	Propertylease	366,221,900	606,395,560.10	462,204,351.13	55,717,572.41	38,792,461.21	29,744,525.80
ShenzhenAutomobileIndustryandTradeCo.,Ltd.	Subsidiary	Propertylease	58,960,000	233,769,120.91	199,440,254.87	16,984,909.89	17,672,810.03	12,842,908.88
ShenzhenXinyongtongMotorVehicleInspectionEquipmentCo.,Ltd.	Subsidiary	Propertylease	9,607,800	13,093,868.31	7,302,422.22	3,356,228.73	2,194,179.81	2,084,354.24
ShenzhenTellusXinyongtongAutomobileDevelopmentCo.,Ltd.	Subsidiary	Propertylease	32,900,000	96,549,794.12	77,888,966.31	6,152,466.75	4,061,708.41	3,048,221.56
ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.	Joint-stockcompany	Automobilesalesandmaintenance	30,000,000	229,844,773.37	75,433,079.98	385,757,907.13	46,885,304.56	35,552,134.52
ShenzhenTellus-GmondInvestmentCo.,Ltd.	Joint-stockcompany	Investmentinindustrialdevelopment,propertymanagement,andleasing	53,704,960	342,612,566.25	83,061,356.64	68,891,890.69	19,400,904.56	14,559,666.49

Acquisitionanddisposalofsubsidiariesduringthereportingperiod

□Applicable?NotapplicableDescriptionofmainholdingcompaniesandjoint-stockcompaniesIX.StructuredEntitiesControlledbytheCompany

□Applicable?NotapplicableX.RisksFacedbytheCompanyandCountermeasures

(I)Marketenvironmentchanges:

Theincreaseininternationalfrictionanddisputeshasasignificantimpactonthepricetrendsofrawmaterialssuchasgold.Atthesametime,changesinthedomesticeconomicenvironmentgreatlyinfluenceconsumers'purchasingpowerandwillingnesstospend,posingchallengesforthedevelopmentofthejewelryindustry.Toaddressthisrisk,theCompanywillactivelyimplementvariouspreventivemeasures:Firstly,continuouslystrengthenriskmanagementbyestablishingacompliancemanagementdepartment,innovateriskpreventionandcontrolmethods,andenhanceriskmanagementcapabilities;secondly,firmlyadvancetheCompany'sstrategictransformation,promotetheimplementationoftransformationprojectsthroughinnovativebusinessmodels,exploreincrementalmarkets,expandbusinessscale,andseeknewprofitgrowthpointstocontinuouslyimprovetheCompany'scompetitivenessandprovideasolidfoundationfortheCompany'slong-termstabledevelopment.(II)InsufficientreserveofprofessionalsTalentisthefoundationofenterprisedevelopment.Aftercontinuousoptimizationandadjustment,thetalentissuehasbeenalleviatedtoacertainextent.However,withthecontinuousdeepeningandexpansionoftransformationbusiness,theshortageoftalentisstillserious.Inresponsetothisrisk,thecompanyconductedacomprehensivetalentdemandanalysis,clarifyingtherequirednumberofpersonnel,professionalskills,andqualityrequirementsforeachposition.Apreciserecruitmentstrategywasdevelopedtoattractandselectoutstandingtalent.Talentcultivationanddevelopmentwerestrengthened,andemployees'professionalqualitiesandoverallcapabilitieswereenhancedthroughbothinternalandexternaltrainingprograms.Amentoringsystemwasimplementedtoprovideone-on-oneguidanceforyoungemployees,facilitatingtheircontinuousgrowthanddevelopmentwithintheCompany.AsolidtalentfoundationfortheCompanywasconstructedthroughvariousmeasures.XI.ImplementationoftheActionPlanfor"ImprovementinQualityandReturn"

HastheCompanydisclosedtheannouncementontheactionplanfor"improvementinqualityandreturn"?

□Yes?No

SectionIVCorporateGovernance

I.AnnualGeneralMeetingofShareholdersandExtraordinaryGeneralMeetingsofShareholdersduringtheReportingPeriod

1.GeneralMeetingofShareholdersduringthereportingperiod

Meeting	Meetingtype	Investorattendanceratio	Holdingdate	Disclosuredate	Meeting'sresolutions
2023AnnualGeneralMeeting	Annualgeneralmeeting	54.36%	April23,2024	April24,2024	Fordetails,pleaserefertotheAnnouncementonResolutionsof2023AnnualGeneralMeetingofShareholders(AnnouncementNo.:2024-015)onSecuritiesTimesandCNINFO(www.cninfo.com.cn).

2.PreferredshareshareholderswithresumedvotingrightsrequestedtoconveneanExtraordinaryGeneralMeetingofShareholders

□Applicable?Notapplicable

II.ChangesintheCompany'sDirectors,Supervisors,andSeniorExecutives

?Applicable□Notapplicable

Name	Position	Type	Date	Reason
ZhangZheng	Supervisor	Resigned	April8,2024	Resignedfromthepositionduetoworkarrangements.

III.ProfitDistributionandCapitalReservesConvertedtoShareCapitalintheReportingPeriod

□Applicable?NotapplicableTheCompanyplanstonotdistributecashdividends,issuebonusshares,ortransfersharecapitalfromcapitalreserveinthehalfyear.IV.ImplementationoftheCompany'sEquityIncentivePlan,EmployeeStockOwnershipPlanorOtherEmployeeIncentiveMeasures

□Applicable?NotapplicableDuringthereportingperiod,therewasnoequityincentiveplan,employeestockownershipplan,orotheremployeeincentivemeasures,andtheirimplementationfortheCompany.

SectionVEnvironmentalandSocialResponsibilityI.MajorEnvironmentalProtectionIssues

Whetherthelistedcompanyanditssubsidiariesbelongtothekeypollutantdischargeunitsannouncedbytheenvironmentalprotectiondepartment?

□Yes?NoAdministrativepenaltiesimposedforenvironmentalproblemsduringthereportingperiod

Nameofcompanyorsubsidiary	Reasonforpunishment	Violation	Penalty	Impactontheproductionandoperationofthelistedcompany	RectificationmeasuresoftheCompany
None	None	None	None	None	None

Disclosureofotherenvironmentalinformationwithreferencetokeypollutantdischargeunits:NotapplicableMeasurestoreducecarbonemissionsduringthereportingperiodandeffects

□Applicable?NotapplicableReasonsforfailuretodiscloseotherenvironmentalinformation:TheCompanyanditssubsidiariesarenotkeypollutantdischargeunitsannouncedbytheenvironmentalprotectiondepartment,andtherewasnopunishmentduetoviolationsoflawsandregulationsduringthereportingperiod.II.SocialResponsibilities

TheCompany'sPartyCommitteeactivelyrespondedtothearrangementsandarrangementsbyhigher-levelPartyorganizationstoimplementthenationalruralrevitalizationinitiative.Inthefirsthalfof2024,itinvestedRMB87,200topurchasepovertyalleviationproducts.IthasalsoselectedaPartymembertoShangyanVillage,ChengtianTown,Shantou,afront-lineruralareastartingfrom2021toassistinruralrevitalizationwork,servingforthreeyearssofar.

SectionVIImportantMattersI.Commitmentsthathavebeenfulfilledbytheactualcontrollers,shareholders,relatedparties,purchasers,andotherrelevantpartiesoftheCompanyduringthereportingperiodandhavenotyetbeenfulfilledasoftheendofthereportingperiod?Applicable□Notapplicable

Commitmentcause	Commitmentparty	Commitmenttype	Commitmentcontent	Commitmenttime	Commitmentperiod	Performance
Commitmentmadeinacquisitionreportorreportofequitychange	ShenzhenInvestmentHoldingsCo.,Ltd.	Ensuretheindependenceoflistedcompanies	TheCompanywillmaintaintheindependenceofthelistedcompanyandmaintainpersonnelindependence,institutionalindependence,financialindependence,andassetintegritywiththelistedcompany.Thelistedcompanywillstillhaveindependentoperationability,independentprocurement,production,andsalessystem,andindependentintellectualpropertyrights.Incaseofviolationoftheabovecommitments,theCompanywillbearcorrespondinglegalresponsibilities,includingbutnotlimitedtocompensationforalllossescausedtothelistedcompany.	December30,2022	DuringtheperiodofbeingtheindirectcontrollingshareholderofTellusHolding,alistedcompany	Inperformance
	ShenzhenInvestmentHoldingsCo.,Ltd.	Avoidhorizontalcompetition	1.AsofthesigningdateofthisLetterofCommitment,theCompanyandotherenterprisescontrolledbytheCompanyhavenotengagedinbusinessandactivitiesthatareindirectcompetitionwithormayconstitutedirectcompetitionwithTellusandwillnotengageinbusinessandactivitiesthatareindirectcompetitionwithormayconstitutedirectcompetitionwithTellusinthefuture(exceptthosearrangedbasedonShenzhenSASACorsimilargovernmentagencies);2.DuringtheperiodofbeingtheindirectcontrollingshareholderofTellusandduringTellus'listingontheShenzhenStockExchange,theCompanywillfullyrespecttheindependentoperationautonomyofallsubsidiariescontrolledbytheCompanyandensurethatthelegitimaterightsandinterestsofTellusanditsminorityshareholderswillnotbeinfringed;3.TheCompanypromisesnottoseekillegitimateinterestswiththestatusofcontrollingshareholderofTellus,thusdamagingtherightsandinterestsofTellusanditsminorityshareholders;4.TheCompanypromisesnottoassistanypartytoengageinanybusinessactivitiesthatareinsubstantialcompetitionorpotentialcompetitionwiththemain	December30,2022	DuringtheperiodofbeingtheindirectcontrollingshareholderofTellusHolding,alistedcompany	Inperformance

			businessofTellusbyusingtheinformationlearnedorknownfromTellus;5.IftheCompanyorotherenterprisescontrolledbytheCompanyviolatetheabovecommitmentsandguarantees,theCompanyshallbeartheeconomiclossescausedtothelistedcompany.
	ShenzhenInvestmentHoldingsCo.,Ltd.	Reduceandstandardizerelatedpartytransactions	1.TheCompanyandthecompanies,enterprises,andeconomicorganizationscontrolledoractuallycontrolledbytheCompany(excludingenterprisescontrolledbylistedcompanies,hereinaftercollectivelyreferredtoas"affiliatedcompanies")willexercisetherightsofshareholders,fulfilltheobligationsofshareholders,andmaintaintheindependenceoflistedcompaniesintermsofassets,finance,personnel,business,andinstitutionsinstrictaccordancewiththeprovisionsoflaws,regulations,andothernormativedocuments;2.TheCompanypromisesnottouseitspositionasacontrollingshareholdertourgetheGeneralMeetingofShareholdersortheBoardofDirectorsofthelistedcompanytomakeresolutionsthatinfringeuponthelegitimaterightsandinterestsofothershareholdersofthelistedcompany;3.TheCompanyoritsaffiliatedcompanieswilltrytoavoidrelatedpartytransactionswithlistedcompanies.Ifitisinevitabletohaverelatedpartytransactionswithlistedcompanies,theCompanyoritsaffiliatedcompanieswillurgethecontrolledentitiestotradewithlistedcompaniesonanequalandvoluntarybasisperfair,reasonable,andnormalcommercialtransactionconditions;4.TheCompanyoritssubsidiarieswillstrictlyadheretothedecision-makingproceduresforrelated-partytransactionsandthecorrespondinginformationdisclosureobligationsasstipulatedinthearticlesofassociationofthelistedcompanyandrelevantlawsandregulations;5.TheCompanyoritsaffiliatedcompanieswillensurethattheywillnotseekspecialinterestsbeyondtheaboveprovisionsthroughrelatedpartytransactionswiththelistedcompany,illegallytransferthefundsandprofitsofthelistedcompanythroughrelatedpartytransactions,ormaliciouslydamagethelegitimaterightsandinterestsofthelistedcompanyanditsshareholdersthroughrelatedpartytransactions.Incaseofviolationoftheabovecommitments,theCompanywillbearcorrespondinglegalresponsibilities,includingbutnotlimitedtocompensationforalllossescausedtothelistedcompany.	December30,2022	DuringtheperiodofbeingtheindirectcontrollingshareholderofTellusHolding,alistedcompany	Inperformance
Commitmentmadeduringtheinitialpublicofferingorrefinancing	SHENZENTELLUSHOLDINGCO.,LTD.	Others	Inthefuture,theCompanywilldiscloserelevantinformationregardingtheprogressofitsnewbusinessinatimely,accurate,andsufficientmannerperrelevantrequirements.	October17,2014	Longterm	Inperformance

OthercommitmentsmadeforminorityshareholdersoftheCompany	ShenzhenSpecialEconomicZoneDevelopmentGroupCo.,Ltd.	Horizontalcompetition	ShenzhenSpecialEconomicZoneDevelopmentGroupCo.,Ltd.,thecontrollingshareholderoftheCompany,issuedtheLetterofCommitmenttoAvoidingHorizontalCompetitiononMay26,2014.Thecommitmentsareasfollows:1.TheCompanyandotherenterprisescontrolledbytheCompanyotherthanTellusHoldingarenotengagedinbusinessthatisinsubstantialcompetitionwiththemainbusinessofTellusHolding,andthereisnohorizontalcompetitionrelationshipwithTellusHolding;2.TheCompanyanditscontrolledenterpriseswillnot,inanyform,directlyorindirectlyengageinorparticipateinbusinessthatcompetesormaycompetewiththemainbusinessofTellusHolding;3.IftheCompanyandotherenterprisescontrolledbytheCompanycanengageinorparticipateinanybusinessopportunitythatmaycompetewiththemainbusinessofTellusHolding,theyshallnotifyTellusHoldingoftheabovebusinessopportunitybeforeimplementingorsigningrelevantagreements.IfTellusHoldingmakesapositivereplywithinareasonableperiodspecifiedinthenoticethatitiswillingtotakeadvantageofthebusinessopportunity,thebusinessopportunitywillbefirstofferedtoTellusHolding.	May25,2014	Longterm	Inperformance
Othercommitments	SHENZENTELLUSHOLDINGCO.,LTD.	Dividendcommitment	From2023to2025,theCompany'sprofitswillbefirstusedtocoverthelossesofpreviousyears;aftermakingupforthelossesofpreviousyears,onthepremisethattheCompany'sprofitsandcashflowmeetnormaloperationsandlong-termdevelopment,theCompanywillimplementanactiveprofitdistributionmethodtoreturnittoshareholders.Fordetails,pleaserefertotheShareholderReturnPlanfortheNextThreeYears(2023-2025)disclosedonwww.cninfo.com.cnonApril27,2023.	April27,2023	December31,2025	Inperformance
Whetherthecommitmentsaredulyperformed?	Yes
Ifthecommitmentisnotfulfilledafterthetimelimit,thespecificreasonsforthefailureoffulfillmentandthenextworkplanshallbespecified.	N/A

II.OccupationofNon-OperatingFundsoftheListedCompanyofControllingShareholderandOtherRelatedParties

□Applicable?NotapplicableNon-operatingfundoccupiedbythecontrollingshareholderandotherrelatedpartiestowardsthelistedcompanyisnotidentifiedwithinthereportingperiodoftheCompany.

III.IllegalExternalGuarantees

□Applicable?NotapplicableDuringthereportingperiod,theCompanyhadnoillegalexternalguarantees.

IV.EmploymentandDismissalofAccountingFirms

WhethertheSemi-AnnualFinancialReporthasbeenaudited?

□Yes?NoTheSemi-AnnualReportoftheCompanyisunaudited.

V.DescriptionoftheBoardofDirectorsandtheBoardofSupervisorsonthe"Non-StandardAuditor'sReport"IssuedbytheAccountingFirmduringtheReportingPeriod

□Applicable?Notapplicable

VI.DescriptionoftheBoardofDirectorsonthe"Non-StandardAuditor'sReport"ofthePreviousYear

□Applicable?Notapplicable

VII.MattersRelatingtoBankruptcyReorganization

□Applicable?NotapplicableMattersconcerningbankruptcyreorganizationwerenotidentifiedwithinthereportingperiodoftheCompany.

VIII.LawsuitProceedingsMajorlitigationandarbitrationmatters?Applicable□Notapplicable

Basicinformationoflitigation(arbitration)	Amountinvolved(RMB10,000)	Whetherestimatedliabilitiesareformed	Progressoflitigation(arbitration)	Litigation(arbitration)trialresultsandimpacts	Executionoflitigation(arbitration)judgment	Disclosuredate	Disclosureindex
Disputeoverlandleasecontract(theCompanyistheplaintiff)	1,403.76	No	Ongoing	Thesecond-instancetrialtookplaceonMarch19,2024,andthejudgmentforthesecond-instancetrialhasnotyetbeenissued.Atpresent,thematterhasnotcausedeffectsontheCompany'sproductionandoperation.	None

Othercontentiousmatters

□Applicable?Notapplicable

IX.PunishmentandRectification

□Applicable?NotapplicableNopunishmentorrectificationwasidentifiedwithinthereportingperiodoftheCompany.

X.IntegritySituationoftheCompanyandItsControllingShareholderandActualController

□Applicable?NotapplicableXI.MajorRelatedPartyTransactions

1.Relatedpartytransactionsconcerningdailyoperations

?Applicable□Notapplicable

Relatedtransactionparty

Relationship

Typeofrelatedpartytransaction

Contentofrelatedpartytransaction

Pricingprincipleofrelatedpartytransaction

Priceofrelatedpartytransaction(RMB10,000)

Amountofrelatedpartytransaction(RMB10,000)

Proportiontotransactionamountofthesamekind

Approvedtransactionamount(RMB10,000)

Exceedtheapprovedamountornot

Settlementmethodofrelatedpartytransaction

Marketpriceofavailablesimilartransaction(RMB10,000)

Disclosuredate

Disclosureindex

ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.

TheCompany'srelatednaturalpersonanditsdirector

Dailyrelatedpartytransaction

Providepropertyleasingservices

Marketpricing

272.50

272.5

1.88%

545

No

Accordingtothecontractamountoragreement

272.50

March28,2024

AnnouncementonDailyRelatedPartyTransactionsin2024(AnnouncementNo.:2024-009)ofSecuritiesTimesandCNINFO

ShenzhenSDGTellusPropertyManagementCo.,Ltd.

Subsidiaryofcontrollingshareholder

Dailyrelatedpartytransaction

Providepropertyleasingservices

Marketpricing

8.69

8.69

0.06%

18

No

Accordingtothecontractamountoragreement

8.69

March28,2024

ShenzhenSDGMicrofinanceCo.,Ltd.

Subsidiaryofcontrollingshareholder

Dailyrelatedpartytransaction

Providepropertyleasingandman

Marketpricing

64.15

64.15

0.44%

503

No

Accordingtothecontractamountoragree

64.15

March28,2024

agementservices

ment

ShenzhenSDGServiceCo.,Ltd.anditsbranches

Subsidiaryofcontrollingshareholder

Dailyrelatedpartytransaction

Providepropertyleasingandparkingservices

Marketpricing

139.61

139.61

0.96%

542

No

Accordingtothecontractamountoragreement

139.61

March28,2024

ShenzhenTelixingInvestmentCo.,Ltd.

TheCompany'srelatednaturalpersonandthedirectorofajointstockcompany

Dailyrelatedpartytransaction

Providebrokerageandagencyservices

Marketpricing

30.00

30

3.78%

30

No

Accordingtothecontractamountoragreement

30.00

March28,2024

ShenzhenSDGEngineeringManagementCo.,Ltd.

Subsidiaryofcontrollingshareholder

Dailyrelatedpartytransaction

Acceptengineeringsupervisionservices

Marketpricing

12.00

12

100.00%

140

No

Accordingtothecontractamountoragreement

12.00

March28,2024

ShenzhenSDGServiceCo.,Ltd.anditsbranches

Subsidiaryofcontrollingshareholder

Dailyrelatedpartytransaction

Acceptpropertymanagementandsecurityservices

Marketpricing

1,071.77

1,071.77

90.15%

4,022

No

Accordingtothecontractamountoragreement

1071.77

March28,2024

ShenzhenSDGTellusPropertyManagement

Subsidiaryofcontrollingshareholder

Dailyrelatedpartytransaction

Acceptpropertymanagementservi

Marketpricing

92.35

92.35

7.77%

198

No

Accordingtothecontractamountoragree

92.35

March28,2024

Co.,Ltd.			ces							ment
ShenzhenSDGBuildingTechnologyCo.,Ltd.	Subsidiaryofcontrollingshareholder	Dailyrelatedpartytransaction	Acceptpropertymanagementservices	Marketpricing	14.40	14.4	1.21%	0	Yes	Accordingtothecontractamountoragreement	14.40	March28,2024
GuorenProperty&CasualtyInsuranceCo.,Ltd.	Enterprisecontrolledbyindirectcontrollingshareholders	Dailyrelatedpartytransaction	Acceptinsuranceservices	Marketpricing	24.68	24.68	90.84%	80	No	Accordingtothecontractamountoragreement	24.68	March28,2024
ISSTechInformationTechnologyCo.,Ltd.	Subsidiaryofcontrollingshareholder	Dailyrelatedpartytransaction	Accepttechnicalservices	Marketpricing	-			152	No	Accordingtothecontractamountoragreement	0.00	March28,2024
Total				--	--	1,730.15	--	6,230	--	--	--	--	--
Detailsoflarge-sumsalesreturn				None
Theactualperformanceduringthereportingperiod(ifany)ifthetotalamountofdailyrelatedpartytransactionsoccurringinthecurrentperiodisestimatedbycategory				Normalperformance
Reasonsforthegreatdifferencebetweenthetransactionpriceandmarketreferenceprice(ifapplicable)				N/A

2.Relatedpartytransactionsfromacquisitionandsaleofassetsorequity

□Applicable?NotapplicableDuringthereportingperiod,theCompanyhadnorelatedpartytransactionfromtheacquisitionandsaleofassetsorequity.

3.Relatedpartytransactionofjointoutboundinvestment

□Applicable?NotapplicableDuringthereportingperiod,theCompanyhadnorelatedpartytransactionofjointoutboundinvestment.

4.Transactionrelatedtocreditanddebt?Applicable□NotapplicableWhethertherearetransactionsofnon-operatingrelatedcreditsanddebts

□Yes?NoDuringthereportingperiod,theCompanyhadnotransactionsrelatedtocreditanddebt.

5.Transactionswithrelatedfinancecompanies

□Applicable?NotapplicableThereisnodeposit,loan,credit,orotherfinancialbusinessbetweentheCompanyandrelatedfinancecompaniesandrelatedparties.

6.TransactionsbetweenfinancecompaniescontrolledbytheCompanyandrelatedparties

□Applicable?NotapplicableThereisnodeposit,loan,credit,orotherfinancialbusinessbetweenthefinancecompaniescontrolledbytheCompanyandrelatedparties.

7.Othermajorrelatedpartytransactions

□Applicable?NotapplicableDuringthereportingperiod,theCompanyhadnoothermajorrelatedpartytransactions.

XII.MajorContractsandPerformance

1.Trusteeship,contracting,andleasingmatters

(1)Trusteeship

□Applicable?NotapplicableDuringthereportingperiod,theCompanyhadnotrusteeship.

(2)Contracting

□Applicable?NotapplicableDuringthereportingperiod,theCompanyhadnocontracting.

(3)Leasing

□Applicable?NotapplicableDuringthereportingperiod,theCompanyhadnoleasing.

2.Significantguarantees?Applicable□NotapplicableUnit:RMB10,000

ExternalguaranteesoftheCompanyanditssubsidiaries(excludingtheguaranteestosubsidiaries)
Nameofguaranteedparty	Disclosuredateoftherelevantannouncementoftheguaranteeamount	Guaranteeamount	Actualdateofoccurrence	Actualguaranteeamount	Typeofguarantee	Collateral(ifany)	Counter-guarantee(ifany)	Guaranteeperiod	Whetheritisfulfilled	Whetheritisprovidedtorelatedparties
ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.	September30,2014	3,500	March15,2022	0	Pledge	No	No	Beforetheexpirationofthejointventurecontract	No	Yes
Totalexternalguaranteeamountapprovedduringthereportingperiod(A1)		0		Totalactualexternalguaranteeamountduringthereportingperiod(A2)		0
Totalexternalguaranteeamountapprovedattheendofthereportingperiod(A3)		3,500		Totalactualexternalguaranteebalanceattheendofreportingperiod(A4)		0
TheCompany'sguaranteetosubsidiaries
Nameofguaranteedparty	Disclosuredateoftherelevantannouncementoftheguaranteeamount	Guaranteeamount	Actualdateofoccurrence	Actualguaranteeamount	Typeofguarantee	Collateral(ifany)	Counter-guarantee(ifany)	Guaranteeperiod	Whetheritisfulfilled	Whetheritisprovidedtorelatedparties
Guaranteebetweensubsidiaries
Nameofguaranteedparty	Disclosuredateoftherelevantannouncementoftheguaranteeamount	Guaranteeamount	Actualdateofoccurrence	Actualguaranteeamount	Typeofguarantee	Collateral(ifany)	Counter-guarantee(ifany)	Guaranteeperiod	Whetheritisfulfilled	Whetheritisprovidedtorelatedparties
TotalamountoftheCompany'sguarantee(i.e.totalofthefirstthreeitems)
Totalguaranteeamountapprovedduringthereportingperiod(A1+B1+C1)		0		Totalactualguaranteeamountduringthereportingperiod(A2+B2+C2)		0
Totalguaranteeamountapprovedattheendofthereportingperiod(A3+B3+C3)		3,500		Totalactualguaranteebalanceattheendofthereportingperiod(A4+B4+C4)		0

Proportionoftotalactualguaranteeamount(i.e.A4+B4+C4)totheCompany'snetassets	0.00%
Including:

Specificdescriptionofthecompositeguarantee

3.Entrustedfinancialmanagement

?Applicable□NotapplicableUnit:RMB10,000

Category	Capitalsourceofentrustedfinancialmanagement	Amountofentrustedfinancialmanagement	Unexpiredbalance	Overdueunrecoveredamount	Theamountofimpairmentaccruedforoverdueunrecoveredfinancialmanagementproducts
Bankfinancialproducts	Self-ownedfunds	52,900	52,900	0	0
Total		52,900	52,900	0	0

Detailsofhigh-riskentrustedfinancialmanagementwithlargeindividualamountorlowsecurityandpoorliquidity

□Applicable?NotapplicablePrincipalunabletoberecoveredorotherconditionscausingimpairmentforentrustedfinancialmanagement

□Applicable?Notapplicable

4.Othermajorcontracts

□Applicable?NotapplicableDuringthereportingperiod,theCompanyhadnoothermajorcontracts.

XIII.DescriptionofOtherMajorMatters

□Applicable?NotapplicableTheCompanyhadnoothermajormattersthatneededtobestatedduringthereportingperiod.XIV.MajorMattersoftheCompany’sSubsidiaries

□Applicable?Notapplicable

SectionVIIChangesinSharesandShareholdersI.ChangesinShares

1.Changesinshares

Unit:share

	Beforethechange		Increase(+)/decrease(-)inthischange					Afterthechange
	Quantity	Proportion	Issuanceofnewshares	Sharedonation	Conversionofthereservedfundsintoshares	Others	Subtotal	Quantity	Proportion
I.ShareswithRestrictionsonSale	0	0.00%	0	0	0	0	0	0	0.00%
1.Stateshareholding	0	0.00%	0	0	0	0	0	0	0.00%
2.State-ownedlegalpersonshareholding	0	0.00%	0	0	0	0	0	0	0.00%
3.Otherdomesticshareholding	0	0.00%	0	0	0	0	0	0	0.00%
Including:Domesticlegalpersonshareholding	0	0.00%	0	0	0	0	0	0	0.00%
Domesticnaturalpersonshareholding	0	0.00%	0	0	0	0	0	0	0.00%
4.Foreignshareholding	0	0.00%	0	0	0	0	0	0	0.00%
Including:Foreignlegalpersonshareholding	0	0.00%	0	0	0	0	0	0	0.00%
Foreignnaturalpersonshareholding	0	0.00%	0	0	0	0	0	0	0.00%
II.ShareswithoutRestrictionsonSales	431,058,320	100.00%	0	0	0	0	0	431,058,320	100.00%
1.RMB-denominatedordinaryshares	392,778,320	91.12%	0	0	0	0	0	392,778,320	91.12%
2.Domesticlistedforeignshares	38,280,000	8.88%	0	0	0	0	0	38,280,000	8.88%
3.Foreignlistedforeignshares	0	0.00%	0	0	0	0	0	0	0.00%
4.Others	0	0.00%	0	0	0	0	0	0	0.00%
III.Totalamountofshares	431,058,320	100.00%	0	0	0	0	0	431,058,320	100.00%

Reasonsforchangesinshares

□Applicable?NotapplicableStatusofauthorizationforchangesinshares

□Applicable?Notapplicable

Statusoftransferforchangesinshares

□Applicable?NotapplicableProgressintheimplementationofsharerepurchase

□Applicable?NotapplicableProgressintheimplementationofsharerepurchasereductionthroughcentralizedbidding

□Applicable?NotapplicableEffectofchangesinsharesonthefinancialindicatorsincludingbasicearningspershareanddilutedearningspershareinthemostrecentyearandinthemostrecentperiodaswellasnetassetpershareattributabletotheCompany'sshareholdersofordinaryshares

□Applicable?NotapplicableOtherinformationdisclosedastheCompanydeemsnecessaryorrequiredbysecuritiesregulatoryauthorities

□Applicable?Notapplicable

2.Changesinshareswithrestrictionsonsale

□Applicable?NotapplicableII.ConditionsonIssuanceandListingofSecurities

□Applicable?NotapplicableIII.NumberofShareholdersoftheCompanyandTheirShareholdingConditions

Unit:share

Totalnumberofordinaryshareshareholdersasattheendofthereportingperiod		54,345		Totalnumberofpreferredshareshareholders(ifany)withrestoredvotingrightsasattheendofthereportingperiod(seeNote8)			0
Shareholdersholdingmorethan5%ofordinarysharesorshareholdingsoftop10shareholdersofordinaryshares(excludingshareslentthroughrefinancing)
Nameofshareholder	Natureofshareholder	Shareholdingproportion	Numberofordinarysharesheldattheendofthereportingperiod	Increase/decreaseduringthereportingperiod	Numberofordinaryshareswithrestrictionsonsaleheld	Numberofordinaryshareswithoutrestrictionsonsaleheld	Pledged,marked,orfrozenshares
							Statusofshares	Quantity
ShenzhenSpecialEconomicZoneDevelopmentGroupCo.,Ltd.	State-ownedlegalperson	49.09%	211,591,621	1,200,000	0	211,591,621	N/A	0
ShenzhenCapitalFortuneJewelryIndustryInvestmentEnterprise(LimitedPartnership)	Domesticnon-state-ownedlegalperson	5.08%	21,919,153	0	0	21,919,153	N/A	0
LiXiaoming	Domesticnaturalperson	0.71%	3,069,500	0	0	3,069,500	N/A	0
IndustrialandCommercialBankofChinaLimited—	Others	0.46%	1,983,775	465,100	0	1,983,775	N/A	0

ChinaSouthernCSIAllShareRealEstateETF
GUOTAIJUNANSECURITIES(HONGKONG)LIMITED	Overseaslegalperson	0.40%		1,741,491	0	0	1,741,491		N/A	0
WangHua	Overseasnaturalperson	0.24%		1,020,024	1,020,024	0	1,020,024		N/A	0
ShangFusheng	Domesticnaturalperson	0.21%		902,045	902,045	0	902,045		N/A	0
IndustrialandCommercialBankofChinaLimited—ChinaSouthernCSI1000ETF	Others	0.21%		894,845	651,545	0	894,845		N/A	0
MaYongcheng	Domesticnaturalperson	0.20%		868,000	228,700	0	868,000		N/A	0
HongKongSecuritiesClearingCompanyLimited	Overseaslegalperson	0.19%		838,870	-1,341,789	0	838,870		N/A	0
Statusofthestrategicinvestororgenerallegalpersonbecomingoneofthetop10ordinaryshareholdersduetoequityoffering(ifany)(seeNote3)		None
Explanationsoftherelatedrelationshiporconcertedactionoftheaboveshareholders		Amongthetop10shareholders,ShenzhenSpecialEconomicZoneDevelopmentGroupCo.,Ltd.wasnotrelatedtoothershareholdersandwasnotapersonactinginconcertasstipulatedintheMeasuresfortheAdministrationoftheTakeoverofListedCompanies.Itwasunknownwhetherothershareholdersoftradableshareswerepersonsactinginconcert.
Descriptionoftheabove-mentionedshareholders'involvementinentrusting/beingentrustedwiththerighttovoteandgivinguptheright		N/A
Specialdescriptionofrepurchasespecialaccountamongthetop10shareholders(ifany)(seeNote11)		None
Shareholdingsoftop10shareholdersofordinaryshares(excludingshareslentthroughrefinancingandlockedsharesofseniorexecutives)
Nameofshareholder			Numberofordinaryshareswithoutrestrictionsonsaleasoftheendofthereportingperiod					Sharetype
								Sharetype		Quantity
ShenzhenSpecialEconomicZoneDevelopmentGroupCo.,Ltd.			211,591,621					CommonsharesdenominatedinRMB		0
ShenzhenCapitalFortuneJewelryIndustryInvestmentEnterprise(LimitedPartnership)			21,919,153					CommonsharesdenominatedinRMB		0
LiXiaoming			3,069,500					Commonsharesdenominatedin		0

		RMB
IndustrialandCommercialBankofChinaLimited—ChinaSouthernCSIAllShareRealEstateETF	1,983,775	CommonsharesdenominatedinRMB	0
GUOTAIJUNANSECURITIES(HONGKONG)LIMITED	1,741,491	Domesticlistedforeignshares	0
WangHua	1,020,024	Domesticlistedforeignshares	0
ShangFusheng	902,045	CommonsharesdenominatedinRMB	0
IndustrialandCommercialBankofChinaLimited—ChinaSouthernCSI1000ETF	894,845	CommonsharesdenominatedinRMB	0
MaYongcheng	868,000	CommonsharesdenominatedinRMB	0
HongKongSecuritiesClearingCompanyLimited	838,870	CommonsharesdenominatedinRMB	0
Descriptionoftherelatedrelationshiporactinginconcertamongthetop10ordinaryshareholderswithouttradinglimitedconditions,andbetweenthetop10ordinaryshareholderswithouttradinglimitedconditionsandthetop10ordinaryshareholders	Amongthetop10shareholders,ShenzhenSpecialEconomicZoneDevelopmentGroupCo.,Ltd.,astate-ownedlegal-personshareholder,wasnotrelatedtoothershareholdersandwasnotapersonactinginconcertasstipulatedintheMeasuresfortheAdministrationoftheTakeoverofListedCompanies.Itwasunknownwhetherothershareholdersoftradableshareswerepersonsactinginconcert.
Descriptionofparticipationofthetop10shareholdersofordinarysharesinsecuritiesmargintrading(ifany)(seeNote4)	TheshareholderShangFushengholds449,700sharesoftheCompanythroughguaranteedcreditaccountsand452,345sharesoftheCompanythroughordinarysecuritiesaccounts,totaling902,045shares.

Thesituationofshareholdersholdingmorethan5%ofshares,thetop10shareholders,andthetop10shareholderswithunlimitedtradablesharesparticipatingintheloanofsharesintherefinancingbusiness?Applicable□NotapplicableUnit:share

Thesituationofshareholdersholdingmorethan5%ofshares,thetop10shareholders,andthetop10shareholderswithunlimitedtradablesharesparticipatingintheloanofsharesintherefinancingbusiness
Nameofshareholder(fullname)	Ordinaryaccountandcreditaccountshareholdingatthebeginningoftheperiod		Shareslentthroughrefinancingatthebeginningoftheperiodandnotyetreturned		Ordinaryaccountandcreditaccountshareholdingattheendoftheperiod		Shareslentthroughrefinancingattheendoftheperiodandnotyetreturned
	Totalquantity	Proportionintotalsharecapital	Totalquantity	Proportionintotalsharecapital	Totalquantity	Proportionintotalsharecapital	Totalquantity	Proportionintotalsharecapital
ShenzhenSpecialEconomicZoneDevelopmentGroupCo.,Ltd.	210,391,621	48.81%	1,200,000	0.28%	211,591,621	49.09%	0	0.00%
IndustrialandCommercialBankofChina	243,300	0.06%	54,600	0.01%	894,845	0.21%	24,600	0.01%

Changesfromthepreviousperiodcausedbythetop10shareholdersandthetop10shareholdersofunlimitedtradablesharesduetorefinancing-basedlending/returning

□Applicable?NotapplicableWhethertheCompany'stop10shareholdersofordinarysharesandthetop10shareholdersofordinaryshareswithoutrestrictionsonsaleperformedtheagreedrepurchasetransactionsduringthereportingperiod

□Yes?NoTheCompany'stop10shareholdersofordinarysharesandthetop10shareholdersofordinaryshareswithoutrestrictionsonsaledidnotperformtheagreedrepurchasetransactionsduringthereportingperiod.IV.ChangesinShareholdingsofDirectors,Supervisors,andSeniorExecutives

□Applicable?NotapplicableTherewasnochangeintheshareholdingofdirectors,supervisors,andseniorexecutivesduringthereportingperiod.Pleaserefertothe2023AnnualReportfordetails.V.ChangeoftheControllingShareholderorActualController

Changeinthecontrollingshareholderduringthereportingperiod

□Applicable?NotapplicableDuringthereportingperiod,theCompanyhadnochangeinthecontrollingshareholder.Changeintheactualcontrollerduringthereportingperiod

□Applicable?NotapplicableDuringthereportingperiod,theCompanyhadnochangeintheactualcontroller.

SectionVIIIPreferredShares

□Applicable?NotapplicableDuringthereportingperiod,theCompanyhadnopreferredshares.

SectionIXBonds

□Applicable?Notapplicable

SectionXFinancialReport

I.Auditor'sReport

WhethertheSemi-AnnualReporthasbeenaudited

□Yes?NoTheSemi-AnnualFinancialReportoftheCompanyhasnotbeenaudited.

II.FinancialStatementsTheunitofmeasurementforthestatementsinthefinancialnotesis:RMB

1.ConsolidatedBalanceSheetPreparedby:SHENZENTELLUSHOLDINGCO.,LTD.June30,2024Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Currentassets:
Cashatbankandonhand	228,605,222.29	220,340,961.64
Settlementreservefund
Lendingstobanksandotherfinancialinstitutions
Tradingfinancialassets	377,514,483.03	206,294,931.94
Derivativefinancialassets		298,320.00
Notesreceivable
Accountsreceivable	197,419,232.54	99,635,751.52
Receivablesfinancing
Prepayment	1,323,763.51	38,454,434.90
Premiumsreceivable
Reinsuranceaccountreceivables
Capitalreservesreceivablefromreinsurancecontracts
Otherreceivables	26,387,609.87	12,383,516.92
Including:Interestreceivable
Dividendsreceivable	1,305,581.86	1,305,581.86
Financialassetspurchasedunderagreementstoresell
Inventories	92,137,538.10	178,425,833.88
Including:Dataresources
Contractassets
Held-for-saleassets
Non-currentassetsduewithinoneyear	25,510,300.00	55,206,250.00

Othercurrentassets	30,394,430.19	104,833,797.59
Totalcurrentassets	979,292,579.53	915,873,798.39
Non-currentassets:
Loansandadvancesissued
Debtinvestments
Othercreditor'srightsinvestment	105,986,078.92	67,627,948.60
Long-termreceivables
Long-termequityinvestment	81,390,604.97	76,511,487.57
Otherequityinstrumentinvestments	383,317.67	383,317.67
Othernon-currentfinancialassets
Investmentproperties	992,091,283.53	1,008,137,341.80
Fixedassets	74,890,303.79	78,935,843.49
Constructioninprogress	15,159,796.57	7,279,570.05
Productivebiologicalassets
Oilandgasassets
Right-of-useassets	67,177,997.92	71,904,716.50
Intangibleassets	4,007,937.65	3,915,770.61
Including:Dataresources
Developmentexpenses
Including:Dataresources
Goodwill
Long-termdeferredexpenses	40,462,492.20	38,392,179.02
Deferredtaxassets	35,941,610.71	37,836,657.43
Othernon-currentassets	96,444,678.01	97,053,053.32
Totalnon-currentassets	1,513,936,101.94	1,487,977,886.06
Totalassets	2,493,228,681.47	2,403,851,684.45
Currentliabilities:
Short-termborrowings	160,119,111.11	145,131,694.44
Borrowingsfromthecentralbank
Loansfromotherbanksandotherfinancialinstitutions
Tradingfinancialliabilities	36,858,570.74	56,881,954.76
Derivativefinancialliabilities	575,060.00	1,380.00
Notespayable	28,000,000.00
Accountspayable	124,603,804.95	135,834,414.39
Advancesfromcustomers	9,428,923.84	4,306,567.65
Contractliabilities	5,509,635.75	7,079,975.38
Financialassetssoldunderagreementstorepurchase
Depositsfromcustomersandinterbanks
Actingtradingsecurities
Actingunderwritingsecurities

Employeecompensationpayable	37,843,857.27	33,425,356.15
Taxespayable	33,252,332.29	28,857,448.06
Otherpayables	132,054,687.73	126,826,966.60
Including:Interestpayable
Dividendspayable
Handlingchargesandcommissionpayable
Reinsuranceaccountspayable
Held-for-saleliabilities
Currentportionofnon-currentliabilities	7,155,499.75	7,304,647.32
Othercurrentliabilities	3,172,726.99	3,388,998.35
Totalcurrentliabilities	578,574,210.42	549,039,403.10
Non-currentliabilities:
Insurancecontractreserve
Long-termborrowings
Bondspayable
Including:Preferredshares
Perpetualbonds
Leaseliabilities	64,188,913.70	69,524,214.23
Long-termpayables	3,920,160.36	3,920,160.36
Long-termemployeecompensationpayable
Estimatedliabilities	268,414.80	268,414.80
Deferredincome	8,737,537.71	9,617,683.53
Deferredtaxliabilities	40,320,590.34	40,409,890.41
Othernon-currentliabilities
Totalnon-currentliabilities	117,435,616.91	123,740,363.33
Totalliabilities	696,009,827.33	672,779,766.43
Owners'equity:
Sharecapital	431,058,320.00	431,058,320.00
Otherequityinstruments
Including:Preferredshares
Perpetualbonds
Capitalreserves	430,866,408.50	430,866,408.50
Less:Treasuryshares
Othercomprehensiveincome	-7,318,552.65	-7,318,552.65
Specialreserves
Surplusreserves	63,956,286.46	63,956,286.46
Generalriskreserve
Undistributedprofit	748,642,264.39	685,342,592.62
Totalequityattributabletoownersoftheparentcompany	1,667,204,726.70	1,603,905,054.93
Minorityinterests	130,014,127.44	127,166,863.09
Totalowners'equity	1,797,218,854.14	1,731,071,918.02
Totalliabilitiesandowner'sequity	2,493,228,681.47	2,403,851,684.45

Legalrepresentative:FuChunlongPersoninchargeofaccounting:HuangTianyangPersoninchargeoftheaccountingfirm:

YuTaiping

2.ParentCompany'sBalanceSheet

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Currentassets:
Cashatbankandonhand	7,999,390.25	8,805,213.07
Tradingfinancialassets	236,071,464.39	205,942,363.02
Derivativefinancialassets
Notesreceivable
Accountsreceivable	21,427,362.90	22,080,192.24
Receivablesfinancing
Prepayment	109.81	16,240.74
Otherreceivables	56,368,045.13	47,432,527.04
Including:Interestreceivable
Dividendsreceivable	1,305,581.86	1,305,581.86
Inventories
Including:Dataresources
Contractassets
Held-for-saleassets
Non-currentassetsduewithinoneyear	25,510,300.00
Othercurrentassets		75,546,888.89
Totalcurrentassets	347,376,672.48	359,823,425.00
Non-currentassets:
Debtinvestments
Othercreditor'srightsinvestment	85,109,745.59	47,081,615.27
Long-termreceivables
Long-termequityinvestment	773,092,452.61	770,687,026.69
Otherequityinstrumentinvestments	383,317.67	383,317.67
Othernon-currentfinancialassets
Investmentproperties	537,661,376.75	545,303,744.96
Fixedassets	14,506,158.01	15,211,321.18
Constructioninprogress	3,625,167.12	589,761.00
Productivebiologicalassets
Oilandgasassets
Right-of-useassets	70,752,693.08	74,533,199.59
Intangibleassets	2,402,136.95	2,559,885.65
Including:Dataresources
Developmentexpenses
Including:Dataresources
Goodwill
Long-termdeferredexpenses	23,444,497.31	21,243,445.23

Deferredtaxassets	29,878,606.40	31,956,786.10
Othernon-currentassets	68,972,373.00	69,580,748.31
Totalnon-currentassets	1,609,828,524.49	1,579,130,851.65
Totalassets	1,957,205,196.97	1,938,954,276.65
Currentliabilities:
Short-termborrowings
Tradingfinancialliabilities
Derivativefinancialliabilities
Notespayable
Accountspayable	65,860,382.55	71,449,469.14
Advancesfromcustomers	2,197,608.80	1,060,721.19
Contractliabilities
Employeecompensationpayable	32,502,750.22	27,402,400.00
Taxespayable	13,512,206.82	13,335,268.63
Otherpayables	202,257,793.39	271,180,563.27
Including:Interestpayable
Dividendspayable
Held-for-saleliabilities
Currentportionofnon-currentliabilities	6,706,250.92	6,706,250.92
Othercurrentliabilities	1,810,007.31	1,810,007.31
Totalcurrentliabilities	324,847,000.01	392,944,680.46
Non-currentliabilities:
Long-termborrowings
Bondspayable
Including:Preferredshares
Perpetualbonds
Leaseliabilities	69,804,336.84	72,936,147.42
Long-termpayables
Long-termemployeecompensationpayable
Estimatedliabilities
Deferredincome
Deferredtaxliabilities	40,269,279.16	40,269,279.16
Othernon-currentliabilities
Totalnon-currentliabilities	110,073,616.00	113,205,426.58
Totalliabilities	434,920,616.01	506,150,107.04
Owners'equity:
Sharecapital	431,058,320.00	431,058,320.00
Otherequityinstruments
Including:Preferredshares
Perpetualbonds
Capitalreserves	428,256,131.23	428,256,131.23
Less:Treasuryshares
Othercomprehensiveincome	-7,344,974.65	-7,344,974.65

Specialreserves
Surplusreserves	63,956,286.46	63,956,286.46
Undistributedprofit	606,358,817.92	516,878,406.57
Totalowners'equity	1,522,284,580.96	1,432,804,169.61
Totalliabilitiesandowner'sequity	1,957,205,196.97	1,938,954,276.65

3.ConsolidatedIncomeStatement

Unit:RMB

Item	Thefirsthalfof2024	Thefirsthalfof2023
I.TotalOperatingRevenue	1,580,023,748.85	704,836,410.94
Including:Operatingrevenue	1,580,023,748.85	704,836,410.94
Interestincome
Earnedpremium
Servicechargesandcommissionincomes
II.TotalOperatingCost	1,498,402,354.66	655,633,026.03
Including:Operatingcost	1,451,925,990.76	608,604,638.40
Interestexpenses
Servicechargesandcommissionexpenses
Surrendervalue
Netpaymentsforinsuranceclaims
Netprovisionforinsuranceliabilityreserves
Bondinsuranceexpense
Reinsuranceexpenses
Taxesandsurcharges	7,022,914.20	4,855,726.45
Sellingexpenses	10,655,583.07	11,963,099.01
Administrativeexpenses	23,758,940.40	28,817,829.38
R&Dexpenses	1,353,032.80
Financialexpenses	3,685,893.43	1,391,732.79
Including:Interestexpenses	5,197,620.36	3,437,880.65
Interestincome	2,112,971.50	1,835,834.14
Add:Otherincomes	5,680,047.59	4,475,465.94
Investmentincomes(losstobelistedwith"-")	14,706,604.25	8,923,017.80
Including:Incomefrominvestmentinassociatesandjointventures	20,511,753.40	3,011,611.29
Incomefromderecognitionoffinancialassetsatamortizedcost
Exchangeincome(losstobelistedwith"-")
Netexposurehedgingincome

(lossestobelistedwith"-")
Incomefromchangesinfairvalue(lossestobelistedwith"-")	-2,981,593.36	-5,265,810.16
Creditimpairmentloss(losstobelistedwith"-")	-857,544.91	6,669.80
Assetimpairmentloss(losstobelistedwith"-")		-3,700.50
Incomefromassetsdisposal(losstobelistedwith"-")	-227.20	-81,800.45
III.OperatingProfit(losstobelistedwith"-")	98,168,680.56	57,257,227.34
Add:Non-operatingrevenue	1,112,033.25	417,182.13
Less:Non-operatingexpenses	107,338.47	119,683.12
IV.TotalProfit(totallosstobelistedwith"-")	99,173,375.34	57,554,726.35
Less:Incometaxexpenses	19,663,631.30	12,466,659.92
V.Netprofit(netlosstobelistedwith"-")	79,509,744.04	45,088,066.43
(I)Classifiedbycontinuityofoperations
1.Netprofitfromcontinuingoperations(netlosstobelistedwith"-")	79,509,744.04	45,088,066.43
2.Netprofitfromdiscontinuedoperations(netlosstobelistedwith"-")
(II)Classifiedbyattributionofownership
1.Netprofit(orloss)attributabletoshareholdersoftheparentcompany	76,662,479.69	44,139,962.93
2.Minorityinterestincome(netlosstobelistedwith"-")	2,847,264.35	948,103.50
VI.NetAmountsafterTaxofOtherComprehensiveIncome
Netafter-taxamountsofothercomprehensiveincomeattributabletotheowneroftheparentcompany
(I)Othercomprehensiveincomethatcannotbereclassifiedintoprofitandloss
1.Changesarisingfromtheremeasurementofthedefinedbenefitplan
2.Othercomprehensiveincomethatcannotbereclassifiedintoprofitorlossundertheequitymethod
3.Changesinthefairvalueofotherequityinstrumentinvestments
4.Changesinfairvalueofthecompany'sowncreditrisk
5.Others
(II)Othercomprehensiveincometobereclassifiedintoprofitorloss
1.Othercomprehensiveincomethatcanbereclassifiedintoprofitorlossundertheequitymethod

2.Changesinfairvalueofotherdebtinvestments
3.Amountoffinancialassetsreclassifiedintoothercomprehensiveincome
4.Reservesforcreditimpairmentinothercreditors'investments
5.Reservesforcashflowhedge
6.Differencesfromthetranslationofforeigncurrencyfinancialstatements
7.Others
Netafter-taxamountofothercomprehensiveincomeattributabletominorityshareholders
VII.TotalComprehensiveIncome	79,509,744.04	45,088,066.43
Totalcomprehensiveincomeattributabletotheowneroftheparentcompany	76,662,479.69	44,139,962.93
Totalcomprehensiveincomeattributabletominorityshareholders	2,847,264.35	948,103.50
VIII.EarningsperShare:
(I)Basicearningspershare	0.1778	0.1024
(II)Dilutedearningspershare	0.1778	0.1024

Inthecaseofabusinessmergerundercommoncontrolinthecurrentperiod,thenetprofitrealizedbythemergedpartybeforethemergerisRMBandthenetprofitrealizedbythemergedpartyinthepreviousperiodisRMB.Legalrepresentative:FuChunlongPersoninchargeofaccounting:HuangTianyangPersoninchargeoftheaccountingfirm:

YuTaiping

4.ParentCompany'sIncomeStatement

Unit:RMB

Item	Thefirsthalfof2024	Thefirsthalfof2023
I.OperatingRevenue	55,668,957.83	34,050,043.81
Less:operatingcosts	21,857,801.26	14,948,857.82
Taxesandsurcharges	666,504.17	98,447.27
Sellingexpenses	1,613,067.79	436,485.01
Administrativeexpenses	19,676,080.08	22,825,529.80
R&Dexpenses
Financialexpenses	314,066.15	1,078,785.57
Including:Interestexpenses	1,410,977.14	1,763,223.12
Interestincome	1,152,266.18	691,617.24
Add:Otherincomes	60,704.40
Investmentincomes(losstobelistedwith"-")	94,855,787.41	10,449,577.73
Including:Incomefrominvestmentinassociatesandjointventures	19,879,117.40	3,011,611.29
Incomefromderecognitionoffinancialassetsmeasuredatamortizedcost(losstobe

listedwith"-")
Netexposurehedgingincome(lossestobelistedwith"-")
Incomefromchangesinfairvalue(lossestobelistedwith"-")	129,101.37	-2,783,204.51
Creditimpairmentloss(losstobelistedwith"-")
Assetimpairmentloss(losstobelistedwith"-")
Incomefromassetsdisposal(losstobelistedwith"-")
II.OperatingProfit(losstobelistedwith"-")	106,587,031.56	2,328,311.56
Add:Non-operatingrevenue	167,555.00	48,428.55
Less:Non-operatingexpenses		111,423.00
III.TotalProfit(totallossestobelistedwith"-")	106,754,586.56	2,265,317.11
Less:Incometaxexpenses	3,911,367.29
IV.NetProfit(netlossestobelistedwith"-")	102,843,219.27	2,265,317.11
(I)Netprofitfromcontinuingoperations(netlosstobelistedwith"-")	102,843,219.27	2,265,317.11
(II)Netprofitfromdiscontinuedoperations(netlosstobelistedwith"-")
V.NetAmountafterTaxofOtherComprehensiveIncome
(I)Othercomprehensiveincomethatcannotbereclassifiedintoprofitandloss
1.Changesarisingfromtheremeasurementofthedefinedbenefitplan
2.Othercomprehensiveincomethatcannotbereclassifiedintoprofitorlossundertheequitymethod
3.Changesinthefairvalueofotherequityinstrumentinvestments
4.Changesinfairvalueofthecompany'sowncreditrisk
5.Others
(II)Othercomprehensiveincometobereclassifiedintoprofitorloss
1.Othercomprehensiveincomethatcanbereclassifiedintoprofitorlossundertheequitymethod
2.Changesinfairvalueofotherdebtinvestments
3.Amountoffinancialassetsreclassifiedintoothercomprehensiveincome
4.Reservesforcreditimpairmentinothercreditors'investments
5.Reservesforcashflowhedge
6.Differencesfromthe

translationofforeigncurrencyfinancialstatements
7.Others
VI.TotalComprehensiveIncome	102,843,219.27	2,265,317.11
VII.EarningsperShare:
(I)Basicearningspershare
(II)Dilutedearningspershare

5.ConsolidatedCashFlowStatement

Unit:RMB

Item	Thefirsthalfof2024	Thefirsthalfof2023
I.CashFlowsfromOperatingActivities:
Cashreceivedfromsalesofgoodsorrenderingofservices	2,365,424,815.77	935,209,100.94
Netincreaseindepositsfromcustomersandplacementsfrombanksandotherfinancialinstitutions
Netincreaseinborrowingsfromthecentralbank
Netincreaseinborrowingsfromotherfinancialinstitutions
Cashreceivedfrompremiumsoforiginalinsurancecontracts
Netamountofcashreceivedfromreinsurancebusiness
Netincreaseindepositsoftheinsuredandinvestments
Cashreceivedfrominterests,handlingcharges,andcommissions
Netincreaseinloansfrombanksandotherfinancialinstitutions
Netincreaseofrepurchasingbusinessfunds
Netamountofcashreceivedfromactingtradingsecurities
Refundoftaxesandsurchargesreceived	37,746.08	1,968,553.13
Othercashreceivedrelatingtooperatingactivities	110,631,913.79	167,102,933.78
Subtotalofcashinflowsfromoperatingactivities	2,476,094,475.64	1,104,280,587.85
Cashpaidforpurchaseofgoodsandreceiptoflaborservices	2,196,783,671.76	865,723,685.98
Netincreaseincustomerloansandadvances
Netincreaseindepositsinthecentralbankandotherfinancialinstitutions
Cashpaidforclaimsettlementsontheoriginalinsurancecontract
Netincreaseinlendingfunds
Cashpaidforinterest,servicecharges,andcommission

Cashpaidforpolicydividends
Cashpaidtoandonbehalfofemployees	24,123,668.90	39,083,559.60
Varioustaxespaid	41,216,137.40	33,660,817.78
Othercashpaidrelatingtooperatingactivities	106,661,508.66	176,054,466.39
Subtotalofcashoutflowsfromoperatingactivities	2,368,784,986.72	1,114,522,529.75
Netcashflowfromoperatingactivities	107,309,488.92	-10,241,941.90
II.CashFlowfromInvestingActivities:
Cashreceivedfromthereturnoninvestment	418,023,375.56	132,000,000.00
Cashreceivedfromreturnsoninvestments	21,365,841.08	21,303,117.33
Netcashreceivedfromthedisposaloffixedassets,intangibleassets,andotherlong-termassets	1,974.82	1,644,282.00
Netcashreceivedfromthedisposalofsubsidiariesandotherbusinessunits
Cashreceivedrelatingtootherinvestingactivities	669,327.72	827,883.63
Subtotalofcashinflowsfrominvestingactivities	440,060,519.18	155,775,282.96
Cashpaidtoacquirefixedassets,intangibleassets,andotherlong-termassets	14,170,382.92	50,769,515.45
Cashpaidforinvestments	554,236,930.32	370,000,000.00
Netincreaseinpledgeloans
Netcashpaidforacquisitionofsubsidiariesandotherbusinessunits
Cashpaidrelatingtootherinvestingactivities	8,115,811.58	7,567,454.81
Subtotalofcashoutflowsfrominvestmentactivities	576,523,124.82	428,336,970.26
Netcashflowsfrominvestingactivities	-136,462,605.64	-272,561,687.30
III.CashFlowfromFinancingActivities:
Cashreceivedfromabsorbinginvestment
Including:Cashreceivedbysubsidiariesfromabsorbinginvestmentsofminorityshareholders
Cashreceivedfromborrowings	263,000,000.00	175,693,122.83
Othercashreceivedrelatingtofinancingactivities
Subtotalofcashinflowsfromfinancingactivities	263,000,000.00	175,693,122.83
Cashrepaymentsofborrowings	220,000,000.00	13,535,116.94
Cashpaidfordistributionofdividends,profits,orinterestrepayment	17,416,675.48	3,711,261.97
Including:Dividendsandprofitspaidbysubsidiariestominorityshareholders
Cashpaidrelatingtootherfinancingactivities	754,459.08	5,528,844.00
Subtotalofcashoutflowsfromfinancingactivities	238,171,134.56	22,775,222.91

Netcashflowsfromfinancingactivities	24,828,865.44	152,917,899.92
IV.EffectofExchangeRateChangesonCashandCashEquivalents	578.35
V.NetIncreaseinCashandCashEquivalents	-4,323,672.93	-129,885,729.28
Add:Openingbalanceofcashandcashequivalents	160,223,387.69	391,406,829.36
VI.ClosingBalanceofCashandCashEquivalents	155,899,714.76	261,521,100.08

6.ParentCompany'sCashFlowStatement

Unit:RMB

Item	Thefirsthalfof2024	Thefirsthalfof2023
I.CashFlowsfromOperatingActivities:
Cashreceivedfromsalesofgoodsorrenderingofservices	62,729,612.62	13,832,800.09
Refundoftaxesandsurchargesreceived
Othercashreceivedrelatingtooperatingactivities	95,110,233.33	63,832,096.54
Subtotalofcashinflowsfromoperatingactivities	157,839,845.95	77,664,896.63
Cashpaidforpurchaseofgoodsandreceiptoflaborservices	16,964,957.26	2,170,256.29
Cashpaidtoandonbehalfofemployees	16,012,236.59	21,827,096.56
Varioustaxespaid	4,315,386.13	4,568,154.92
Othercashpaidrelatingtooperatingactivities	97,680,119.77	9,260,460.69
Subtotalofcashoutflowsfromoperatingactivities	134,972,699.75	37,825,968.46
Netcashflowfromoperatingactivities	22,867,146.20	39,838,928.17
II.CashFlowfromInvestingActivities:
Cashreceivedfromthereturnoninvestment	330,497,067.04	137,100,000.00
Cashreceivedfromreturnsoninvestments	15,058,727.78	21,303,117.33
Netcashreceivedfromthedisposaloffixedassets,intangibleassets,andotherlong-termassets
Netcashreceivedfromthedisposalofsubsidiariesandotherbusinessunits
Cashreceivedrelatingtootherinvestingactivities		46,628.16
Subtotalofcashinflowsfrominvestingactivities	345,555,794.82	158,449,745.49
Cashpaidtoacquirefixedassets,intangibleassets,andotherlong-termassets	13,583,673.72	50,544,766.31
Cashpaidforinvestments	342,236,930.32	290,000,000.00
Netcashpaidforacquisitionofsubsidiariesandotherbusinessunits
Cashpaidrelatingtootherinvestingactivities
Subtotalofcashoutflowsfrom	355,820,604.04	340,544,766.31

investmentactivities
Netcashflowsfrominvestingactivities	-10,264,809.22	-182,095,020.82
III.CashFlowfromFinancingActivities:
Cashreceivedfromabsorbinginvestment
Cashreceivedfromborrowings		25,693,122.83
Othercashreceivedrelatingtofinancingactivities
Subtotalofcashinflowsfromfinancingactivities		25,693,122.83
Cashrepaymentsofborrowings		1,192,522.00
Cashpaidfordistributionofdividends,profits,orinterestrepayment	13,408,159.80	2,711,261.96
Cashpaidrelatingtootherfinancingactivities
Subtotalofcashoutflowsfromfinancingactivities	13,408,159.80	3,903,783.96
Netcashflowsfromfinancingactivities	-13,408,159.80	21,789,338.87
IV.EffectofExchangeRateChangesonCashandCashEquivalents
V.NetIncreaseinCashandCashEquivalents	-805,822.82	-120,466,753.78
Add:Openingbalanceofcashandcashequivalents	8,805,213.07	157,068,231.28
VI.ClosingBalanceofCashandCashEquivalents	7,999,390.25	36,601,477.50

7.ConsolidatedStatementofChangesinOwners'Equity

AmountinthecurrentperiodUnit:RMB

Item

Thefirsthalfof2024

Owners'equityattributabletotheparentcompany

Minorityinterests

Totalowners'equity

Sharecapital

Otherequityinstruments

Capitalreserves

Less:Treasuryshares

Othercomprehensiveincome

Specialreserves

Surplusreserves

Generalriskreserve

Undistributedprofit

Others

Subtotal

Preferredshares

Perpetualbonds

Others

I.EndingBalanceofthePreviousYear

431,058,320.00

430,866,408.50

-7,318,552.65

63,956,286.46

685,342,592.62

1,603,905,054.93

127,166,863.09

1,731,071,918.02

Add:Changesinaccountingpolicies

Correctionsoferrorsinthepreliminary

stage
Others
II.BeginningBalanceoftheCurrentYear	431,058,320.00		430,866,408.50		-7,318,552.65		63,956,286.46		685,342,592.62		1,603,905,054.93	127,166,863.09	1,731,071,918.02
III.Increase/DecreaseintheCurrentPeriod(decreasetobelistedwith"-")									63,299,671.77		63,299,671.77	2,847,264.35	66,146,936.12
(I)Totalcomprehensiveincome									76,662,479.69		76,662,479.69	2,847,264.35	79,509,744.04
(II)Capitalinvestedanddecreasedbyowners
1.Ordinarysharescontributedbyowners
2.Capitalinvestedbyholdersofotherequityinstruments
3.Amountofshare-basedpaymentincludedinowners'equity
4.Others
(III)Profitdistribution									-13,362,807.92		-13,362,807.92		-13,362,807.92
1.Appropriationtosurplusreserve
2.Appropriationtogeneralriskprovision
3.									-		-		-

Distributiontoowners(orshareholders)									13,362,807.92		13,362,807.92		13,362,807.92
4.Others
(IV)Internaltransfersofowner'sequity
1.Conversionofcapitalreservesintopaid-incapital(orsharecapital)
2.Conversionofsurplusreserveintopaid-incapital(orsharecapital)
3.Surplusreservestocoverlosses
4.Retainedearningscarriedoverfromchangesindefinedbenefitplans
5.Retainedearningscarriedforwardfromothercomprehensiveincome
6.Others
(V)Specialreserves
1.Appropriationinthecurrentperiod
2.Amountusedinthecurrentperiod
(VI)Others
IV.Ending	431,		430,		-		63,9		748,		1,66	130,	1,79

BalanceoftheCurrentPeriod

058,320.00

866,408.50

7,318,552.65

56,286.46

642,264.39

7,204,726.70

014,127.44

7,218,854.14

AmountinthepreviousyearUnit:RMB

Item	Thefirsthalfof2023
	Owners'equityattributabletotheparentcompany													Minorityinterests	Totalowners'equity
	Sharecapital	Otherequityinstruments			Capitalreserves	Less:Treasuryshares	Othercomprehensiveincome	Specialreserves	Surplusreserves	Generalriskreserve	Undistributedprofit	Others	Subtotal
		Preferredshares	Perpetualbonds	Others
I.EndingBalanceofthePreviousYear	431,058,320.00				431,449,554.51		26,422.00		52,499,172.13		590,605,394.67		1,505,638,863.31	150,588,880.59	1,656,227,743.90
Add:Changesinaccountingpolicies
Correctionsoferrorsinthepreliminarystage
Others
II.BeginningBalanceoftheCurrentYear	431,058,320.00				431,449,554.51		26,422.00		52,499,172.13		590,605,394.67		1,505,638,863.31	150,588,880.59	1,656,227,743.90
III.Increase/DecreaseintheCurrentPeriod(decreasetobelistedwith"-")											32,070,329.97		32,070,329.97	-15,677,397.48	16,392,932.49
(I)Totalcomprehensiveincome											44,139,962.93		44,139,962.93	948,103.50	45,088,066.43
(II)Capitalinvestedanddecreasedbyowners														-4,900,000.00	-4,900,000.00
1.Ordinaryshares														-4,90	-4,90

contributedbyowners					0,000.00	0,000.00
2.Capitalinvestedbyholdersofotherequityinstruments
3.Amountofshare-basedpaymentincludedinowners'equity
4.Others
(III)Profitdistribution		-12,069,632.96		-12,069,632.96		-12,069,632.96
1.Appropriationtosurplusreserve
2.Appropriationtogeneralriskprovision
3.Distributiontoowners(orshareholders)		-12,069,632.96		-12,069,632.96		-12,069,632.96
4.Others
(IV)Internaltransfersofowner'sequity
1.Conversionofcapitalreservesintopaid-incapital(orsharecapital)
2.Conversionofsurplusreserveintopaid-incapital(orsharecapital)
3.Surplusreservesto

coverlosses
4.Retainedearningscarriedoverfromchangesindefinedbenefitplans
5.Retainedearningscarriedforwardfromothercomprehensiveincome
6.Others
(V)Specialreserves
1.Appropriationinthecurrentperiod
2.Amountusedinthecurrentperiod
(VI)Others												-11,725,500.98	-11,725,500.98
IV.EndingBalanceoftheCurrentPeriod	431,058,320.00		431,449,554.51		26,422.00		52,499,172.13		622,675,724.64		1,537,709,193.28	134,911,483.11	1,672,620,676.39

8.ParentCompany'sStatementofChangesinOwners'Equity

AmountinthecurrentperiodUnit:RMB

Item

Thefirsthalfof2024

Sharecapital

Otherequityinstruments

Capitalreserves

Less:Treasuryshares

Othercomprehensiveincome

Specialreserves

Surplusreserves

Undistributedprofit

Others

Totalowners'equity

Preferredshares

Perpetualbonds

Others

I.EndingBalanceofthePreviousYear

431,058,320.00

428,256,131.23

-7,344,974.65

63,956,286.46

516,878,406.57

1,432,804,169.61

Add:

Changesinaccountingpolicies
Correctionsoferrorsinthepreliminarystage
Others
II.BeginningBalanceoftheCurrentYear	431,058,320.00		428,256,131.23		-7,344,974.65		63,956,286.46	516,878,406.57		1,432,804,169.61
III.Increase/DecreaseintheCurrentPeriod(decreasetobelistedwith"-")								89,480,411.35		89,480,411.35
(I)Totalcomprehensiveincome								102,843,219.27		102,843,219.27
(II)Capitalinvestedanddecreasedbyowners
1.Ordinarysharescontributedbyowners
2.Capitalinvestedbyholdersofotherequityinstruments
3.Amountofshare-basedpaymentincludedinowners'equity
4.Others
(III)Profitdistribution								-13,362,807.92		-13,362,807.92
1.Appropriationtosurplusreserve

2.Distributiontoowners(orshareholders)								-13,362,807.92		-13,362,807.92
3.Others
(IV)Internaltransfersofowner'sequity
1.Conversionofcapitalreservesintopaid-incapital(orsharecapital)
2.Conversionofsurplusreserveintopaid-incapital(orsharecapital)
3.Surplusreservestocoverlosses
4.Retainedearningscarriedoverfromchangesindefinedbenefitplans
5.Retainedearningscarriedforwardfromothercomprehensiveincome
6.Others
(V)Specialreserves
1.Appropriationinthecurrentperiod
2.Amountusedinthecurrentperiod
(VI)Others
IV.Ending	431,0		428,2		-		63,95	606,3		1,522,

BalanceoftheCurrentPeriod

58,320.00

56,131.23

7,344,974.65

6,286.46

58,817.92

284,580.96

AmountinthepreviousyearUnit:RMB

Item

Thefirsthalfof2023

Sharecapital

Otherequityinstruments

Capitalreserves

Less:Treasuryshares

Othercomprehensiveincome

Specialreserves

Surplusreserves

Undistributedprofit

Others

Totalowners'equity

Preferredshares

Perpetualbonds

Others

I.EndingBalanceofthePreviousYear

431,058,320.00

428,256,131.23

52,499,172.13

425,834,010.57

1,337,647,633.93

Add:Changesinaccountingpolicies

Correctionsoferrorsinthepreliminarystage

Others

II.BeginningBalanceoftheCurrentYear

431,058,320.00

428,256,131.23

52,499,172.13

425,834,010.57

1,337,647,633.93

III.Increase/DecreaseintheCurrentPeriod(decreasetobelistedwith"-")

-9,804,315.85

-9,804,315.85

(I)Totalcomprehensiveincome

2,265,317.11

2,265,317.11

(II)Capitalinvestedanddecreasedbyowners

1.Ordinarysharescontributedbyowners

2.Capitalinvestedby

holdersofotherequityinstruments
3.Amountofshare-basedpaymentincludedinowners'equity
4.Others
(III)Profitdistribution		-12,069,632.96		-12,069,632.96
1.Appropriationtosurplusreserve
2.Distributiontoowners(orshareholders)		-12,069,632.96		-12,069,632.96
3.Others
(IV)Internaltransfersofowner'sequity
1.Conversionofcapitalreservesintopaid-incapital(orsharecapital)
2.Conversionofsurplusreserveintopaid-incapital(orsharecapital)
3.Surplusreservestocoverlosses
4.Retainedearningscarriedoverfromchangesindefinedbenefitplans
5.Retainedearningscarriedforwardfrom

othercomprehensiveincome
6.Others
(V)Specialreserves
1.Appropriationinthecurrentperiod
2.Amountusedinthecurrentperiod
(VI)Others
IV.EndingBalanceoftheCurrentPeriod	431,058,320.00		428,256,131.23		52,499,172.13	416,029,694.72		1,327,843,318.08

III.BasicInformationoftheCompany

SHENZENTELLUSHOLDINGCO.,LTD.(hereinafterreferredtoas"theCompany")isalimitedliabilitycompanyregisteredinShenzhenAdministrationforIndustryandCommerceonNovember10,1986.TheCompanywasreorganizedandestablishedfromtheformerShenzhenMachineryIndustryCompanywiththeapprovalthroughtheReplyontheReorganizationofShenzhenMachineryIndustryCompanyintoShenzhenTellusMachineryCo.,Ltd.(SFBF[1991]No.1012)issuedbytheGeneralOfficeofShenzhenMunicipalPeople'sGovernment.TheCompanycurrentlyholdsabusinesslicensewithaunifiedsocialcreditcodeof91440300192192210U,witharegisteredcapitalofRMB431,058,320.00andatotalof431,058,320shares,including392,778,320Asharesand38,280,000Bshareswithouttradingrestrictionsonsale.ThebusinessaddressoftheCompany'sheadquartersis3-4/F,TellusBuilding,2ndShuibeiRoad,LuohuDistrict,Shenzhen.ThelegalrepresentativeisFuChunlong.In1993,withtheapprovalfromtheReplyontheReorganizationofShenzhenTellusMachineryCo.,Ltd.intoaPublicLimitedLiabilityCompany(SFBF[1992]No.1850)issuedbytheGeneralOfficeofShenzhenMunicipalPeople'sGovernmentandtheReplyontheIssuanceofSharesbyShenzhenTellusMachineryElectricCo.,Ltd.(SRYFZ[1993]No.092)issuedbyShenzhenSpecialEconomicZoneBranchofthePeople'sBankofChina,theCompanywasreorganizedintoapubliclimitedliabilitycompanythroughaninitialpublicoffering,witharegisteredcapitalofRMB166,880,000.00andatotalsharecapitalof166,880,000shares.120,900,000shareswereconvertedfromformerassets,25,980,000wereissuedasAshares,and20,000,000wereissuedasBshares.SharesissuedbytheCompanyhadaparvalueofRMB1pershare.OnJune21,1993,theCompany'sshareswerelistedandtradedontheShenzhenStockExchange.AccordingtotheresolutionoftheCompany's1993AnnualGeneralMeetingofShareholders,basedonthesharecapitalof166,880,000sharesasofDecember31ofthatyear,theCompanydistributedacashdividendofRMB0.5andissued2bonussharestoallshareholdersforevery10sharesheld,totaling33,376,000shares,

whichwasimplementedin1994.Afterthesharedividend,theregisteredcapitalwasincreasedtoRMB200,256,000.00.AccordingtotheresolutionoftheCompany's1994AnnualGeneralMeetingofShareholders,basedonthesharecapitalof200,256,000sharesasofDecember31ofthatyear,theCompanydistributedacashdividendofRMB0.5andissued0.5bonussharestoallshareholdersforevery10sharesheld,with0.5additionalshares,totaling20,025,600shares,whichwasimplementedin1995.TheregisteredcapitalwasincreasedtoRMB220,281,600.00afterthesharedividendandtransfer.AccordingtotheresolutionoftheCompany's1994AnnualGeneralMeetingofShareholders,basedonthesharecapitalof200,256,000sharesasofDecember31ofthatyear,theCompanydistributedacashdividendofRMB0.5andissued0.5bonussharestoallshareholdersforevery10sharesheld,with0.5additionalshares,totaling20,025,600shares,whichwasimplementedin1995.TheregisteredcapitalwasincreasedtoRMB220,281,600.00afterthesharedividendandtransfer.Accordingtotheresolutionofthe4thExtraordinaryGeneralMeetingofShareholdersoftheCompanyin2014,upontheapprovaloftheReplytotheApprovalofNon-publicOfferingofSharesbySHENZENTELLUSHOLDINGCO.,LTD.(ZJXK[2015]No.173)issuedbytheChinaSecuritiesRegulatoryCommission,theCompanyissued77,000,000ordinaryAsharestoShenzhenSpecialEconomicZoneDevelopmentGroupCo.,Ltd.andShenzhenCapitalFortuneJewelryIndustryInvestmentEnterprise(LimitedPartnership)in2015.Aftertheissuance,theregisteredcapitalwasincreasedtoRMB297,281,600.00.AccordingtotheresolutionoftheCompany's2018AnnualGeneralMeetingofShareholders,basedonthesharecapitalof297,281,600sharesasofDecember31ofthatyear,theCompanyincreased4.5sharesforevery10sharestoallshareholdersthroughcapitalreserves,totaling133,776,720shares,whichwasimplementedin2019.Afterthetransfer,theregisteredcapitalwasincreasedtoRMB431,058,320.00.Mainbusinessactivities:Propertyleasingandservices,jewelryoperations,etc.Thefinancialstatementsandnotestothefinancialstatementswereapprovedbythe12thFormalMeetingofthe10thBoardofDirectorsonAugust20,2024.IV.PreparationFundamentalsforFinancialStatements

1.PreparationfundamentalsTheCompanypreparedthefinancialstatementsaccordingtoAccountingStandardsforBusinessEnterprisesissuedbytheMinistryofFinanceaswellasrelevantapplicationguidelines,interpretations,andotherprovisions(hereinaftercollectivelyreferredtoas"ASBE").Inaddition,theCompanyalsodisclosedrelevantfinancialinformationpertheRulesforthePreparationofInformationDisclosureofCompaniesIssuingSecuritiestothePublicNo.15—GeneralProvisionsonFinancialReports(Revisedin2023)issuedbytheCSRC.

2.ContinuingoperationsThefinancialstatementshavebeenpreparedbasedoncontinuingoperations.

V.SignificantAccountingPoliciesandAccountingEstimates

Notestospecificaccountingpoliciesandaccountingestimates:

TheCompanyhasdeterminedthepoliciesforinvestmentpropertydepreciation,fixedassetdepreciation,andrevenuerecognitionbasedonitsownproductionandoperationalcharacteristics.PleaseseeNotes27and28forspecificaccountingpolicies.

1.StatementofcompliancewithASBEThesefinancialstatementscomplywiththerequirementsofASBEandtrulyandcompletelyreflecttheCompany'smergerandfinancialsituationasofJune30,2024,aswellasthemergerinthefirsthalfof2024anditsoperatingresults,merger,cashflows,andotherinformation.

2.AccountingperiodTheCompanyusesthecalendaryearastheaccountingyear,namely,fromJanuary1toJune30.

3.BusinesscycleThebusinesscycleoftheCompanyis6months.

4.BookkeepingbasecurrencyTheCompanyanditsdomesticsubsidiariestakeRMBasthebookkeepingbasecurrency.TheCompanyusesRMBtopreparethefinancialstatements.

5.Methodofdeterminingsignificancecriteriaandbasisofselection

?Applicable□Notapplicable

Item	Significancecriteria
Significantreceivableswithprovisionforbaddebtsdrawnonasinglebasis	Amount≥RMB1,000,000.00oraccountsformorethan1%ofvariousreceivables
Significantconstructioninprogress	Thebudgetamountforasingleprojectis≥20,000,000.00
Significantaccountspayableandotherpayables	Accountspayablewithasingleaccountreceivableageofmorethanoneyear/otherpayablesaccountingformorethan1%ofthetotalaccountspayable,withanamount≥RMB1,000,000.00
Significantnon-wholly-ownedsubsidiaries	Thetotalrevenuefromrelatedpartiesaccountsformorethan10%ofthetotalrevenueintheconsolidatedfinancialstatements,ortheabsolutevalueofnetprofitaccountsformorethan10%ofthenetprofitintheconsolidatedfinancialstatements.
Significantinvestingactivitiesandprojects	Singleinvestmentactivityaccountsformorethan10%ofthetotalcashinflowsoroutflowsrelatedtoinvestmentactivities,ortheoutflowsamountto≥RMB100,000,000.00.
Significantjointventuresorassociates	Thebookvalueoflong-termequityinvestmentinasingleinvesteeismorethanRMB15million,ortheprofitandlossonthelong-termequityinvestmentundertheequitymethod

	accountsforover3%oftheCompany'sconsolidatednetprofit.
Significanteventsafterthebalancesheetdate	TheCompanyrecognizestheprofitdistributionafterthebalancesheetdateasasignificantevent

6.Accountingtreatmentmethodforbusinessmergersundercommoncontrolandnotundercommoncontrol

(1)BusinessmergersundercommoncontrolForabusinessmergerundercommoncontrol,themergingpartyshallmeasuretheassetsandliabilitiesacquiredfromthemergedpartyattheirbookvalueonthemergerdateintheconsolidatedfinancialstatementsoftheultimatecontrollingparty.Thedifferencebetweenthebookvalueofthenetassetsobtainedinthebusinessmergerandthebookvalueofthemergerisusedtoadjustthecapitalreserve.Wherethecapitalreserveisinsufficientforoffset,retainedearningsshallbeadjusted.Businessmergersundercommoncontrolrealizedstep-by-stepthroughmultipletransactionsTheassetsandliabilitiesacquiredbythemergingpartyfromthemergedpartyshallbemeasuredbasedontheirbookvalueonthemergerdateintheconsolidatedfinancialstatementsoftheultimatecontrollingparty.Accordingtothedifferencebetweenthesumofthebookvalueofholdinginvestmentbeforemergerandthebookvalueofnewlypaidconsiderationonthemergerdateandthebookvalueofnetassetsobtainedbymerging,thecapitalreserveshallbeadjusted;ifthecapitalreserveisinsufficientforoffset,retainedearningsmaybeadjusted.Thelong-termequityinvestmentheldbeforetheacquisitionofthemergedparty'scontrolbythemergingpartyandtheprofitorloss,othercomprehensiveincome,andchangesinotherowners'equitiesthathavebeenrecognizedduringtheperiodfromthedateofacquisitionoftheoriginalequity,orthedateofcommoncontrolofthemergingpartyandthemergedentity(whichislater)tothemergingdateshalloffsetagainsttheretainedbeginningearningsorcurrentprofitsandlossesrespectivelyduringtheperiodofthecomparativestatement.

(2)BusinessmergersnotundercommoncontrolForabusinessmergernotundercommoncontrol,themergercostsarethefairvalueofassetspaid,liabilitiesincurredorassumed,andequitysecuritiesissuedbytheCompanyontheacquisitiondatetoobtaincontrolovertheacquiree.Theassets,liabilities,andcontingentliabilitiesoftheacquireeobtainedarerecognizedasperthefairvalueontheacquisitiondate.Thedifferencebetweenthemergingcostandthefairvalueofidentifiablenetassetsobtainedfromtheacquireeshallberecognizedasgoodwill,andsuccessivelymeasuredbydeductingtheaccumulativedepreciationprovisionbycost;thedifferencebetweenthemergingcostandthefairvalueofidentifiablenetassetsobtainedfromtheacquireeshallbeincludedinthecurrentprofitsandlossesafterreview.Businessmergersnotundercommoncontrolrealizedstep-by-stepthroughmultipletransactionsThemergingcostshallbeequaltothesumoftheconsiderationpaidontheacquisitiondateandthefairvalueoftheacquiree'sequity,whichhasbeenheldbeforetheacquisitiondate,ontheacquisitiondate.Theacquiree'sequityheldbeforetheacquisitiondateshallbere-measuredatitsfairvalueontheacquisitiondate,andthe

differencebetweenthefairvalueanditsbookvalueshallbeincludedinthecurrentinvestmentincome;iftheacquiree'sequityheldbeforethedateofacquisitioninvolvesothercomprehensiveincome,changesinotherowners'equityshallbetransformedintothecurrentprofitontheacquisitiondate,exceptcomprehensiveincomegeneratedduetoremeasuringthechangeinnetliabilitiesornewassetsofdefinedbenefitplanbytheinvesteeandothercomprehensiveincomerelatedtonon-tradingequityinstrumentinvestmentoriginallymeasuredatfairvaluethroughothercomprehensiveincome.

(3)DisposalofrelatedhandlingchargesforbusinessmergersIntermediationcostsforaudit,legalservice,assessmentandconsultation,andotheradministrativeexpensesincurredshallbeincludedinthecurrentprofitandlosswhenincurredduringthebusinessmergers.Thetransactionexpensesofequitysecuritiesordebtsecuritiesissuedasmergerconsiderationshallbeincludedintheinitiallyrecognizedamountofequitysecuritiesordebtsecurities.

7.Judgmentstandardforcontrolandpreparationofconsolidatedfinancialstatements

(1)JudgmentstandardforcontrolTheconsolidationscopeofconsolidatedfinancialstatementsisdeterminedbasedoncontrol.ControlmeansthepoweroftheCompanyovertheinvestee,withwhichtheCompanyenjoysvariablereturnsthroughparticipatinginrelatedactivitiesoftheinvesteeandcaninfluenceitsamountofreturnbyusingitspowerovertheinvestees.Oncechangesinrelevantfactsandcircumstancesleadtochangesinrelevantelementsinvolvedintheabovedefinitionofcontrol,theCompanywillconductareassessment.Whenjudgingwhethertoincludeastructuredentityinthescopeofconsolidation,theCompanyevaluateswhethertocontrolthestructuredentitybasedonallfactsandcircumstances,includingevaluatingthepurposeanddesignoftheestablishmentofthestructuredentity,identifyingthetypesofvariablereturns,andbearingpartorallofthereturnvariabilitybyparticipatinginitsrelatedactivities.

(2)PreparationofconsolidatedfinancialstatementsConsolidatedfinancialstatementsarepreparedbytheCompanybasedonthefinancialstatementsoftheCompanyanditssubsidiariesaswellasotherrelateddata.Inthepreparationofconsolidatedfinancialstatements,theaccountingpoliciesandaccountingperiodsoftheCompanyanditssubsidiariesarerequiredtobeconsistent,andsignificanttransactionsandcurrentbalancesbetweencompaniesareoffset.Whereasubsidiaryorbusinesshasbeenacquiredthroughabusinesscombinationinvolvingenterprisesundercommoncontrolinthereportingperiod,thesubsidiaryorbusinessisdeemedtobeincludedintheconsolidatedfinancialstatementsfromthedatetheyarecontrolledbytheultimatecontrollingparty.Theiroperatingresultsandcashflowsarerespectivelyincludedintheconsolidatedincomestatementandconsolidatedcashflowstatementfromthedatetheyarecontrolledbytheultimatecontrollingparty.Forsubsidiariesandbusinessesincreasedduetobusinesscombinationunderdifferentcontrolduringthereportingperiod,therevenues,expenses,andprofitsofsuchsubsidiariesandbusinessesfromthepurchasedate

totheendofthereportingperiodshallbeincludedintheconsolidatedincomestatement,andtheircashflowsshallbeincludedintheconsolidatedcashflowstatement.Theportionofshareholders'equityofsubsidiariesnotbelongingtotheCompanyshallbelistedseparatelyundertheitem"Shareholders’Equity"intheconsolidatedbalancesheetasminorityshareholders’equity.Theportionofnetprofitorlossofsubsidiariesinthecurrentperiodbelongingtominorityshareholders’equityshallbelistedseparatelyundertheitem"MinorityShareholders'ProfitorLoss"intheconsolidatedincomestatement.Ifthelossofasubsidiarybornebyminorityshareholdersexceedsitsshareintheowner'sequityofthesubsidiaryatthebeginningoftheperiod,thebalanceshallstilloffsettheminorityequity.

(3)AcquisitionofequityfromminorityshareholdersofsubsidiariesThecapitalreserveintheconsolidatedbalancesheetshallbeadjustedduetothebalancebetweenthelong-termequityinvestmentcostnewlyobtainedfromminorityequityandthenetassetshareofsubsidiariescalculatedcontinuouslystartingfromthepurchasedateorconsolidationasperthenewshareholdingratioandthebalancebetweendisposingmoneyobtainedfrompartialdisposalofsubsidiaries'equityinvestmentwithoutlossofcontrolandthenetassetshareofsubsidiariescalculatedcontinuouslystartingfromthepurchasedateorconsolidationcorrespondingtothedisposaloflong-termequityinvestment.Ifthecapitalreserveisinsufficientforoffset,retainedearningsmaybeadjusted.

(4)DisposalofthelossofcontroloversubsidiariesIftheCompany'scontrolovertheoriginalsubsidiariesislostduetothedisposalofpartofanequityinvestmentorotherreasons,theremainingequityshallberecalculatedatfairvalueonthedaywhenthecontrolislost.Thedifferencebetweenthesumofconsiderationacquiredfromthedisposalofequityandthefairvalueoftheremainingequityminusthesumoftheshareofnetassetsandthegoodwilloftheoriginalsubsidiariescalculatedconstantlybasedontheoriginalshareholdingproportionfromtheacquisitiondateshallbeincludedincurrentinvestmentincomeatthetimeoflossofcontrol.WhentheCompanylosescontrolovertheoriginalsubsidiaries,othercomprehensiveincomeinconnectionwithequityinvestmentoftheoriginalsubsidiariesshallbesubjecttoaccountingtreatmentusingthesamebasisonwhichtheoriginalsubsidiariesdirectlydisposeofrelevantassetsorliabilities,andotherchangesinowners'equityrelatedtotheoriginalsubsidiariesundertheequitymethodshallbetransferredintocurrentprofitorlossatthetimeoflossofcontrol.

8.ClassificationofjointarrangementsandaccountingtreatmentmethodsforjointoperationsAjointarrangementreferstoanarrangementjointlycontrolledbytwoormoreparticipants.ThejointarrangementoftheCompanycanbeclassifiedintojointoperationandjointventure.

(1)JointoperationsJointoperationsrefertojointarrangementsinwhichtheCompanyenjoysassetsrelatedtothearrangementsandbearsliabilitiesrelatedtothearrangements.

TheCompanyrecognizesthefollowingitemsrelatedtothequantumofinterestinjointoperationsandcarriesoutaccountingtreatmentperrelevantprovisionsofASBE:

A.Recognizetheassetsheldsolelyandtheassetsheldjointlyidentifiedasperitsshares;B.Recognizetheliabilitiesbornesolelyandtheliabilitiesbornejointlyidentifiedasperitsshares;C.Recognizetherevenuegeneratedfromthesaleofsharesenjoyedinthejointoperation;D.Recognizetherevenuegeneratedfromthesaleofsharesenjoyedinthejointoperationasperitsshares;E.Recognizetheexpensesincurredseparatelyandtheexpensesincurredfromthejointoperationaspertheirshares.

(2)JointventuresJointventuresrefertojointarrangementsinwhichtheCompanyonlyhasrightsoverthenetassetsofthearrangements.TheCompanycarriesoutaccountingtreatmentforinvestmentinjointventuresaccordingtotheprovisionsonequitymethodaccountingoflong-termequityinvestments.

9.StandardsfordefiningcashandcashequivalentsCashreferstocashonhandanddepositsthatarereadilyavailableforpayment.Cashequivalentsrefertoshort-termhighlyliquidinvestmentsheldbytheCompanythatarereadilyconvertibleintoknownamountsofcashandhaveaninsignificantriskofchangeinvalue.

10.ForeigncurrencytransactionandforeigncurrencystatementtranslationForeigncurrencytransactionsoftheCompanyaretranslatedintobookkeepingbasecurrencyaccordingtothespotexchangerateonthetransactiondate.Onthebalancesheetdate,monetaryitemsdenominatedinforeigncurrenciesaretranslatedatthespotexchangerateonthatdate.Exchangedifferencesarisingfromthedifferencebetweenthespotexchangerateonthebalancesheetdateandthatatinitialrecognitionoronthepreviousbalancesheetdateshallbeincludedincurrentprofitandloss;foreigncurrencynon-monetaryitemsmeasuredathistoricalcostarestilltranslatedatthespotexchangerateonthetransactiondate;foreigncurrencynon-monetaryitemsmeasuredatfairvalueshallbetranslatedatthespotexchangerateonthedatewhenthefairvalueisdetermined.Thedifferencebetweenthetranslatedamountinrecordingcurrencyandtheoriginalamountinrecordingcurrencyshallbeincludedincurrentprofitandlossorothercomprehensiveincomesaccordingtothenatureofthenon-monetaryitems.

11.FinancialinstrumentsFinancialinstrumentsrefertocontractsthatformthefinancialassetsofapartyandformfinancialliabilitiesorequityinstrumentsofotherparties.

(1)RecognitionandderecognitionofthefinancialinstrumentsTheCompanywillrecognizeanitemoffinancialassetorfinancialliabilityatthetimewhenitbecomesapartytothecontractofthefinancialinstruments.Thefinancialassetsshallbederecognizedifoneofthefollowingconditionsismet:

①Thecontractualrightforcollectingcashflowofthefinancialassetsisterminated;

②Thisfinancialassethasbeentransferredandmeetsthefollowingderecognitionconditionsforthetransferoffinancialassets.Ifthecurrentobligationofafinancialliabilityhasbeendischargedinwholeorinpart,suchfinancialliabilityorpartthereofshallbederecognized.TheCompany(thedebtor)andthecreditorsignanagreementtoreplacetheexistingfinancialliabilitiesbyassumingnewfinancialliabilities,andifthecontractualtermsofthenewfinancialliabilitiesaresubstantiallydifferentfromthoseoftheexistingfinancialliabilities,theexistingfinancialliabilitiesshallbederecognizedandthenewfinancialliabilitiesshallberecognizedatthesametime.Financialassetstransactedconventionallyaresubjecttoaccountingrecognitionandderecognitiononthetransactionday.

(2)ClassificationandmeasurementoffinancialassetsAccordingtothebusinessmodeoffinancialassetsmanagementandthecontractualcashflowcharacteristicsoffinancialassets,uponinitialrecognition,theCompanyclassifiesfinancialassetsintofinancialassetsmeasuredatamortizedcost,financialassetsatfairvaluewithchangesintoothercomprehensiveincome,andfinancialassetsatfairvaluethroughprofitorloss.Financialassetsaremeasuredatfairvalueatinitialrecognition.Forfinancialassetsatfairvaluethroughprofitorloss,therelatedtransactionfeesaredirectlyincludedinthecurrentprofitorloss;forotherfinancialassets,therelatedtransactionfeesareincludedintheinitiallyrecognizedamount.Foraccountsreceivablearisingfromthesaleofproductsortheprovisionoflaborservices,whichdonotincludeordonotconsidersignificantfinancingcomponents,theamountofconsiderationtheCompanyisexpectedtobeentitledtoreceiveistakenastheinitialrecognitionamount.FinancialassetsmeasuredatamortizedcostTheCompanyclassifiesthefinancialassetsthatmeetallofthefollowingconditionsandarenotdesignatedtobemeasuredatfairvaluethroughprofitorlossasthosemeasuredatamortizedcost:

ThebusinessmodeloftheCompanytomanagesuchfinancialassetsisaimedatcollectingcontractualcashflows;Thecontracttermsofthefinancialassetsstipulatethatcashflowsgeneratedonaspecificdateareonlypaymentsofprincipalandinterestbasedontheoutstandingprincipalamount.

Afterinitialrecognition,suchfinancialassetsaremeasuredatamortizedcostusingtheeffectiveinterestmethod.Anygainsorlossesonfinancialassetsatamortizedcostthatarenotpartofthehedgingrelationshiparechargedtothecurrentprofitorlossatderecognition,amortizationusingtheeffectiveinterestmethod,orrecognitionofimpairment.FinancialassetsatfairvaluewithchangesintoothercomprehensiveincomeTheCompanyclassifiesfinancialassetsthatmeetthefollowingconditionsandarenotdesignatedtobefinancialassetsatfairvaluethroughprofitorlossasfinancialassetsatfairvaluethroughothercomprehensiveincome:

??TheCompanymanagesthefinancialassetinabusinessmodethataimsatbothcollectingcontractual

cashflowsandsellingthefinancialasset;

??Thecontracttermsofthefinancialassetsstipulatethatcashflowsgeneratedonaspecificdateareonly

paymentsofprincipalandinterestbasedontheoutstandingprincipalamount.Afterinitialrecognition,suchfinancialassetsaresubsequentlymeasuredatfairvalue.Interest,impairmentlossesorgains,andexchangegainsandlossescalculatedbytheeffectiveinterestmethodareincludedincurrentprofitsandlosses,andothergainsorlossesareincludedinothercomprehensiveincome.Atthetimeofderecognition,theaccumulatedgainsorlossespreviouslyincludedinothercomprehensiveincomeshallbetransferredoutfromothercomprehensiveincomeandincludedincurrentprofitsandlosses.FinancialassetsatfairvaluethroughprofitorlossExceptfortheabove-mentionedfinancialassetsmeasuredatamortizedcostandfairvaluethroughothercomprehensiveincome,theCompanyclassifiesallremainingfinancialassetsasfinancialassetsatfairvaluethroughprofitorloss.Attheinitialrecognition,toeliminateorsignificantlyreduceaccountingmismatches,theCompanyirrevocablydesignatessomefinancialassetsthatshouldhavebeenmeasuredatamortizedcostsorfairvaluewithchangesintoothercomprehensiveincomeasthefinancialassetsatfairvaluethroughprofitorloss.Suchfinancialassetsaresubsequentlymeasuredatfairvalueafterinitialrecognition,andtheresultinggainsorlosses(includinginterestanddividendrevenue)areincludedincurrentprofitandlossunlessthefinancialassetsarepartofthehedgingrelationship.However,fornon-tradingequityinstrumentinvestments,theCompanyirrevocablydesignatesthemasfinancialassetsatfairvaluewithchangesintoothercomprehensiveincomeuponinitialrecognition.Thedesignationismadeonasingleinvestmentbasisandtherelatedinvestmentsmeetthedefinitionofequityinstrumentsfromtheperspectiveoftheissuer.Afterinitialrecognition,suchfinancialassetsaresubsequentlymeasuredatfairvalue.Dividendincomethatmeetstheconditionsisincludedinprofitorloss,andothergainsorlossesandchangesinfairvalueareincludedinothercomprehensiveincome.Uponderecognition,theaccumulatedgainsorlossespreviouslyincludedinothercomprehensiveincomearetransferredoutofothercomprehensiveincomeandincludedinretainedearnings.

ThebusinessmodelofmanagingfinancialassetsreferstohowtheCompanymanagesfinancialassetstogeneratecashflows.ThebusinessmodeldeterminesthecashflowsourceofthefinancialassetsmanagedbytheCompany,whichmaybethecollectionofcontractcashflow,thesaleoffinancialassets,orboth.TheCompanydeterminesthebusinessmodelformanagingfinancialassetsbasedonobjectivefactsandspecificbusinessobjectivesformanagingfinancialassetsdecidedbykeymanagementpersonnel.TheCompanyevaluatesthecontractualcashflowcharacteristicsoffinancialassetstodeterminewhetherthecontractualcashflowgeneratedbytherelevantfinancialassetsonthespecificdateisonlythepaymentofprincipalandinterestbasedontheprincipalamountoutstanding.Inthiscontext,principalreferstothefairvalueoffinancialassetsatinitialrecognition;interestincludesconsiderationforthetimevalueofmoney,creditriskassociatedwiththeamountofprincipaloutstandingoveraspecificperiod,andotherfundamentalborrowingrisks,costs,andprofits.Inaddition,theCompanyevaluatesthecontracttermsthatmaycausechangesinthetimedistributionoramountofcontractualcashflowsoffinancialassetstodeterminewhethertheymeettherequirementsfortheabove-mentionedcontractualcashflowcharacteristics.OnlywhentheCompanychangesthebusinessmodeofmanagingfinancialassetswillallaffectedrelatedfinancialassetsbereclassifiedonthefirstdayofthefirstreportingperiodafterthebusinessmodechanges,otherwise,financialassetscannotbereclassifiedafterinitialrecognition.

(3)ClassificationandmeasurementoffinancialliabilitiesFinancialliabilitiesoftheCompanyareclassifiedintofinancialliabilitiesmeasuredatfairvaluethroughprofitorlossandfinancialliabilitiesmeasuredatamortizedcostuponinitialrecognition.Forfinancialliabilitiesnotclassifiedasfinancialliabilitiesatfairvaluethroughprofitorloss,thetransactioncostsarerecognizedintheinitiallyrecognizedamount.FinancialliabilitiesatfairvaluethroughprofitorlossFinancialliabilitiesatfairvaluethroughprofitorlossincludeheld-for-tradingfinancialliabilitiesandthosedesignatedtobemeasuredatfairvaluethroughprofitorlossuponinitialrecognition.Suchfinancialliabilitiesshallbesubsequentlymeasuredatfairvalue,andtheprofitsorlossesarisingfromchangesinfairvalueaswellasdividendsandinterestexpendituresrelatedtosuchfinancialliabilitiesshallbeincludedincurrentprofitsandlosses.FinancialliabilitiesmeasuredatamortizedcostOtherfinancialliabilitiesaresubsequentlymeasuredatamortizedcostusingtheeffectiveinterestmethod,andgainsorlossesarisingfromderecognitionoramortizationareincludedincurrentprofitsandlosses.DifferencebetweenfinancialliabilitiesandequityinstrumentsFinancialliabilitiesrefertothosethatmeetoneofthefollowingconditions:

①Contractualobligationstodelivercashorotherfinancialassetstootherparties.

②Acontractualobligationtoexchangefinancialassetsorfinancialliabilitieswithanotherentityunderpotentiallyunfavorableconditions.

③Non-derivativecontractsthatmustorcanbesettledwiththeenterprise'sequityinstrumentsinthefuture,andaccordingtowhichtheenterprisewilldeliveravariablenumberofitsequityinstruments.

④Derivativecontractsthatmustorcanbesettledwiththeenterprise'sequityinstrumentsinthefuture,exceptforderivativecontractswhereafixedamountofitsequityinstrumentsisexchangedforafixedamountofcashorotherfinancialassets.Equityinstrumentsrefertocontractsthatcanprovetheownershipofresidualequityinanenterprise'sassetsafterallliabilitiesarededucted.IftheCompanycannotunconditionallyavoidperformingacontractualobligationbydeliveringcashorotherfinancialassets,thecontractualobligationmeetsthedefinitionoffinancialliabilities.IfafinancialinstrumentmustorcanbesettledwiththeCompany'sequityinstrument,itisnecessarytoconsiderwhethertheCompany'sequityinstrumentsusedforthesettlementofsuchinstrumentsareusedassubstitutesforcashorotherfinancialassetsortoenabletheinstrumentholdertoenjoyresidualequityintheassetsoftheissuerafterallliabilitiesarededucted.Ifthesituationistheformer,theinstrumentisafinancialliabilityoftheCompany;ifitisthelatter,theinstrumentisanequityinstrumentoftheCompany.

(4)DerivativefinancialinstrumentsandembeddedderivativeinstrumentsThederivativefinancialinstrumentsoftheCompanyareinitiallymeasuredatthefairvalueonthedateofsigningthederivativedealcontract,andsubsequentlymeasuredatfairvalue.Derivativefinancialinstrumentswithpositivefairvaluesarerecognizedasanassetandthosewithnegativefairvaluesasaliability.Anygainorlossarisingfromchangesinfairvaluethatdoesnotcomplywiththeprovisionsofhedgeaccountingisdirectlyincludedincurrentprofitsandlosses.Forhybridinstrumentscontainingembeddedderivativeinstruments,ifthemaincontractisafinancialasset,therelevantprovisionsoffinancialassetclassificationshallapplytothehybridinstrumentsasawhole.Ifthemaincontractisnotafinancialassetandthehybridinstrumentisnotmeasuredatfairvaluethroughprofitorlossforaccountingtreatment,theembeddedderivativeinstrumentsarenotcloselyrelatedtothemaincontractintermsofeconomiccharacteristicsandrisksandhavethesameconditionsastheembeddedderivativeinstruments.Iftheseparatelyexistinginstrumentsmeetthedefinitionofderivativeinstruments,theembeddedderivativeinstrumentsshallbeseparatedfromthehybridinstrumentsandtreatedasseparatederivativefinancialinstruments.Iftheembeddedderivativeinstrumentscannotbemeasuredseparatelyatthetimeofacquisitionoronthesubsequentbalancesheetdate,thehybridinstrumentsaredesignatedasfinancialassetsorfinancialliabilitiesatfairvaluethroughprofitorlossasawhole.

(5)FairvalueoffinancialinstrumentsSee"DisclosureofFairValue"formethodsfordeterminingthefairvalueoffinancialassetsandfinancialliabilities.

(6)ImpairmentoffinancialassetsTheCompanycarriesoutimpairmentaccountingtreatmentandrecognizesthelossprovisionforthefollowingitemsbasedonexpectedcreditlosses:

??Financialassetsmeasuredatamortizedcost;??Receivablesanddebtinstrumentinvestmentsatfairvaluewithchangesintoothercomprehensive

income;

??ContractassetsasdefinedintheAccountingStandardsforBusinessEnterprisesNo.14—Revenue;??Leasereceivables;??Financialguaranteecontracts(exceptforthosemeasuredatfairvaluethroughprofitorloss,wherethe

transferoffinancialassetsdoesnotmeetderecognitionconditionsoriscontinuouslyinvolvedinthetransferredfinancialassets).MeasurementofexpectedcreditlossTheexpectedcreditlossreferstotheweightedaverageofthecreditlossesoffinancialinstruments,withtheriskofdefaultasweight.CreditlossreferstothedifferencebetweenallcontractcashflowthattheCompanydiscountsattheoriginaleffectiveinterestrateandisreceivableperthecontractandallcashflowexpectedtobereceived,thatis,thepresentvalueofallcashshortages.TheCompanyconsidersreasonableandreliableinformationaboutpastevents,currentsituation,andforecastofthefutureeconomicsituationandtakestheriskofdefaultastheweighttocalculatetheprobability-weightedamountofthepresentvalueofthedifferencebetweenthecashflowreceivablefromthecontractandthecashflowexpectedtobereceivedandrecognizetheexpectedcreditloss.TheCompanyseparatelymeasurestheexpectedcreditlossesoffinancialinstrumentsatdifferentstages.Ifthecreditriskoffinancialinstrumentshasnotincreasedsignificantlysinceinitialrecognition,itisinthefirststage.TheCompanymeasuresthelossprovisionaccordingtotheexpectedcreditlossesinthenext12months;ifthecreditriskofafinancialinstrumenthasincreasedsignificantlysinceinitialrecognitionbutnocreditimpairmenthasoccurred,itisinthesecondstage.TheCompanymeasuresthelossprovisionaccordingtotheexpectedcreditlossoftheinstrumentthroughoutitsduration;ifafinancialinstrumenthasbeencredit-impairedsinceinitialrecognition,itisinthethirdstage.TheCompanymeasuresthelossprovisionaccordingtotheexpectedcreditlossoftheinstrumentthroughoutitsduration.Forfinancialinstrumentswithlowcreditriskonthebalancesheetdate,theCompanyassumesthattheircreditriskshavenotincreasedsignificantlysinceinitialrecognitionandmeasuresthelossprovisionaccordingtotheexpectedcreditlossesinthenext12months.Theexpectedcreditlossofthewholedurationreferstotheexpectedcreditlosscausedbyallpossibledefaulteventsoffinancialinstrumentsthroughouttheestimatedduration.Theexpectedcreditlossinthenext12monthsreferstotheexpectedcreditlosscausedbythepossibledefaulteventsoffinancialinstrumentswithin12months(or,theexpectedduration,iftheexpecteddurationoffinancialinstrumentsislessthan12months)afterthebalancesheetdate,whichispartoftheexpectedcreditlossinthewholeduration.

Whentheexpectedcreditlossismeasured,thelongesttermthattheCompanyneedstoconsideristhelongestcontracttermthattheenterprisefacescreditrisk(includingtheoptiontorenewthecontract).Forfinancialinstrumentsinthefirstandsecondstagesandwithlowcreditrisk,theCompanycalculatesinterestincomeaccordingtothebookbalancebeforedeductingprovisionforimpairmentandtheactualinterestrate.Forfinancialinstrumentsinthethirdstage,theCompanycalculatesinterestincomeaccordingtotheamortizedcost(thatis,thebookbalancelesstheaccrualreduced-valueallowance)andtheeffectiveinterestrate.Fornotesreceivable,accountsreceivable,andotherreceivables,ifthecreditriskcharacteristicsofacustomeraresignificantlydifferentfromthoseofothercustomersintheportfolio,orthecreditriskcharacteristicsofthecustomerhavechangedsignificantly,theCompanyshallmakeprovisionforbaddebtsonthereceivableitem.Exceptforreceivableswithprovisionforbaddebtsdrawnonasinglebasis,theCompanydividesreceivablesintoportfoliosaccordingtocreditriskcharacteristicsandcalculatesprovisionforbaddebtsbasedonportfolios.Notesreceivable,accountsreceivableFornotesreceivableandaccountsreceivable,regardlessofwhetherthereisasignificantfinancingcomponent,theCompanyalwaysmeasurestheirlossprovisionaccordingtotheamountequivalenttotheexpectedcreditlossinthewholeduration.Whentheinformationofexpectedcreditlosscannotbeevaluatedatareasonablecostforasinglefinancialasset,theCompanydividesthenotesreceivableandaccountsreceivableintoportfoliosaccordingtothecreditriskcharacteristics,calculatestheexpectedcreditlossbasedontheportfolio,anddeterminestheportfoliobasedonthefollowing:

A.Notesreceivable

??Notesreceivableportfolio1:Bankacceptancebills??Notesreceivableportfolio2:Commercialacceptancebills

B.Accountsreceivable

??Accountsreceivableportfolio1:Leasingandotherportfolio??Accountsreceivableportfolio2:Jewelrysalesbusinessportfolio

Fornotesreceivabledividedintoportfolios,theCompanyreferstothehistoricalcreditlossexperience,combinesthecurrentsituationwiththeforecastofthefutureeconomicsituation,andcalculatestheexpectedcreditlossthroughdefaultriskexposureandtheexpectedcreditlossrateforthewholeduration.Fortheaccountsreceivabledividedintoportfolios,theCompanyreferstothehistoricalcreditlossexperience,combinesthecurrentsituationwiththeforecastofthefutureeconomicsituation,formulatesthecomparisontableofagingofaccountsreceivableandtheexpectedcreditlossrateintheentireduration,andcalculatestheexpectedcreditloss.Theageofaccountsreceivableshallbecalculatedfromthedateofrecognition.Otherreceivables

TheCompanydividesotherreceivablesintoseveralportfoliosbasedoncreditriskcharacteristics,calculatestheexpectedcreditlossbasedontheportfolio,anddeterminestheportfoliobasedonthefollowing:

??Otherreceivablesportfolio1:Agingportfolio??Otherreceivablesportfolio2:Portfolioofdepositsandsecuritydepositsreceivable??Otherreceivablesportfolio3:Portfolioofconcernedintercoursefundswithintheconsolidationscope

ofreceivablesForotherreceivablesthataredividedintoportfolios,theCompanycalculatestheexpectedcreditlossbasedonthedefaultriskexposureandtheexpectedcreditlossratewithinthenext12monthsorthewholeduration.Theageofotherreceivablesdividedintoportfoliosbyagingshallbecalculatedfromthedateofrecognition.Long-termreceivablesThelong-termreceivablesoftheCompanyincludeconcernedintercoursefundsreceivable,etc.TheCompanydividesconcernedintercoursefundsreceivableintoseveralportfoliosbasedoncreditriskcharacteristics,calculatestheexpectedcreditlossbasedontheportfolio,anddeterminestheportfoliobasedonthefollowing:

??Long-termreceivablesportfolio1:Otherreceivables

Forconcernedintercoursefundsreceivabledividedintoportfolios,theCompanyreferstothehistoricalcreditlossexperience,combinesthecurrentsituationwiththeforecastofthefutureeconomicsituation,andcalculatestheexpectedcreditlossthroughdefaultriskexposureandtheexpectedcreditlossrateforthewholeduration.Forotherreceivablesandlong-termreceivablesdividedintoportfoliosexceptforconcernedintercoursefundsreceivableandlaborpaymentsreceivable,theexpectedcreditlossiscalculatedbasedonthedefaultriskexposureandtheexpectedcreditlossratewithinthenext12monthsorthewholeduration.Creditor'srightsinvestments,othercreditor'srightsinvestmentsForcreditor'srightsinvestmentsandothercreditor'srightsinvestments,theCompanycalculatestheexpectedcreditlossaccordingtothenatureoftheinvestmentaswellasvarioustypesofcounterpartyandriskexposurethroughdefaultriskexposureandtheexpectedcreditlossrateinthenext12monthsortheentireduration.AssessmentofsignificantincreaseincreditriskTodeterminetherelativechangesinthedefaultrisksoffinancialinstrumentsinthedurationandassesswhetherthecreditriskoffinancialinstrumentshasincreasedsignificantlysinceinitialrecognition,theCompanycomparesthedefaultriskoffinancialinstrumentsonthebalancesheetdatewiththedefaultriskontheinitialrecognitiondate.Whendeterminingwhetherthecreditriskhassignificantlyincreasedsincetheinitialrecognition,theCompanyconsidersreasonableandwell-foundedinformationobtainedwithoutunnecessaryadditionalcostoreffort,includingforward-lookinginformation.TheinformationconsideredbytheCompanyincludes:

??Thedebtorfailstopaytheprincipalandinterestbythecontractexpirationdate;??Asignificantdeterioration(ifany)intheexternalorinternalcreditratingsofafinancialinstrument,whetherithasoccurredorisanticipated;??Asignificantdeteriorationintheoperatingperformanceofthedebtor,whetherithasoccurredorisanticipated;

??Changesintheexistingorexpectedtechnical,market,economic,orlegalenvironment,whichwillhave

asignificantadverseimpactonthedebtor'sabilitytorepaytheCompany.Accordingtothenatureoffinancialinstruments,theCompanyevaluateswhetherthecreditriskhasincreasedsignificantlybasedonindividualfinancialinstrumentsorportfoliosoffinancialinstruments.Whenevaluatingbasedonportfoliosoffinancialinstruments,theCompanymayclassifythefinancialinstrumentsbasedoncommoncreditriskcharacteristics,suchasoverdueinformationandcreditriskrating.Ifthefinancialinstrumentisoverdueformorethan30days,theCompanydeterminesthatitscreditriskhassignificantlyincreased.TheCompanyconsidersthatadefaultofafinancialassetoccurswhen:

??TheborrowerisunlikelytopayinfullwhatisowedtotheCompanyandtheassessmentdoesnotcover

therealizationofthecollateral(ifheld)orotherrecourseactionsbytheCompany;

??Financialassetsareoverdueformorethan90days.Credit-impairedfinancialassetsOnthebalancesheetdate,theCompanyevaluateswhetherthecreditimpairmenthasoccurredtofinancialassetsmeasuredbyamortizedcostandatfairvaluewithchangesintoothercomprehensiveincome;Whenoneormoreeventsthathaveanadverseeffectontheexpectedfuturecashflowofafinancialassetoccur,thefinancialassetbecomesacredit-impairedfinancialasset.Evidenceforcredit-impairedfinancialassetsincludesthefollowingobservableinformation:

??Theissuerordebtoriscaughtinaseriousfinancialdifficulty;

??Thedebtorbreachestheagreementofcontract,suchasdefaultoroverduepaymentofinterestor

principal;

??TheCompanygrantsconcessionstothedebtorduetoeconomicorcontractualconsiderationsrelatedto

thedebtor'sfinancialdifficulties,whichwouldnotbemadeunderanyothercircumstances;

??Thereliesagreatprobabilityofbankruptcyorotherfinancialrestructuringforthedebtor;

??Theissuerordebtoriscaughtinfinancialdifficulties,whichleadstothedisappearanceoftheactive

marketofthefinancialasset;PresentationofprovisionforexpectedcreditlossToreflectthechangesinthecreditriskoffinancialinstrumentssincetheinitialrecognition,theCompanyre-measurestheexpectedcreditlossoneachbalancesheetdate.Theincreaseorreversalamountofprovisionforlosstherefromshallberegardedasimpairmentlossorgainandincludedincurrentprofitsandlosses.Forthefinancialassetsmeasuredatamortizedcost,theprovisionforlossshallbeusedtooffsetagainstthebookvalueoffinancialassetspresentedinthebalancesheet;forthedebtinvestmentsmeasuredatfairvaluewithchanges

intoothercomprehensiveincome,theCompanyrecognizestheprovisionforlossinothercomprehensiveincome,andthebookvalueoffinancialassetswillnotbededucted.Write-offWhentheCompanynolongerreasonablyexpectsthatthecontractualcashflowofthefinancialassetcanberecoveredinwholeorinpart,thebookbalanceofthefinancialassetisdirectlywrittendown.Suchwrite-downsmayconstitutethederecognitionofrelatedfinancialassets.ThisusuallyhappenswhentheCompanydeterminesthatthedebtorhasnoassetsorsourcesofrevenuetogeneratesufficientcashflowtorepaytheamounttobewrittendown.However,accordingtotheCompany'sproceduresforrecoveringdueamounts,written-downfinancialassetsmaystillbeaffectedbyimplementationactivities.Ifthewrite-downfinancialassetsarerecoveredlater,theyshallberegardedasthereversalofimpairmentlossandincludedinthecurrentprofitsandlosses.

(7)TransferoffinancialassetsTransferoffinancialassetsreferstotheassignmentordeliveryoffinancialassetstotheotherpartyotherthantheissuerofsuchfinancialassets(transferee).IftheCompanyhastransferredsubstantiallyallrisksandrewardsofownershipofafinancialassettothetransferee,thefinancialassetshallbederecognized;ifitretainssubstantiallyallrisksandrewardsofownershipofthefinancialasset,thefinancialassetshallnotbederecognized.IftheCompanyneithertransfersnorretainsalmostallrisksandrewardsofownershipofafinancialasset,itshalldealwiththemasfollows:Ifthecontroloverthefinancialassetiswaived,thefinancialassetshallbederecognizedandtheassetsandliabilitiesincurredshallberecognized;ifthecontroloverthefinancialassetisnotwaived,therelevantfinancialassetshallberecognizedtotheextentthatitcontinuestobeinvolvedinthetransferredfinancialasset,andtherelevantliabilitiesshallberecognizedaccordingly.

(8)OffsetoffinancialassetsandliabilitiesWhentheCompanyhasalegalrighttooffsettherecognizedfinancialassetsandfinancialliabilities,andsuchlegalrightiscurrentlyenforceable,andtheCompanyplanstosettleonanetbasisorrealizethefinancialassetsandpayoffthefinancialliabilitiessimultaneously,thefinancialassetsandfinancialliabilitiesarepresentedinthebalancesheetattheamountafteroffsettingeachother.Besides,financialassetsandfinancialliabilitiesarepresentedseparatelyinthebalancesheetandarenotmutuallyoffset.TheCompanyshallabidebythedisclosurerequirementsoftheBusinessGuidelinesofShenzhenStockExchangeforSelf-disciplineRegulationofListedCompaniesNo.3—IndustrialInformationDisclosureforjewelry-relatedbusiness.

12.Inventories

TheCompanyshallabidebythedisclosurerequirementsfor"jewelry-relatedbusiness"intheGuidelinesofShenzhenStockExchangeforSelf-RegulatorySupervisionofListedCompaniesNo.3—IndustryInformationDisclosure.

(1)ClassificationofinventoriesTheCompany'sinventoriesincluderawmaterials,finishedgoods,hedgeditems,materialsprocessedonacommissionbasis,andgoodssoldonacommissionbasis.

(2)ValuationmethodfordispatchedinventoriesTheCompany'sinventoriesaremeasuredattheactualcostwhenacquired.Rawmaterialsandinventoryitemsarevaluedusingthefirst-in,first-outmethod,andthespecificvaluationmethodwhenissued.

(3)RecognitionandwithdrawalofprovisionfordeclineinthevalueofinventoriesOnthebalancesheetdate,inventoriesarevaluedbycostornetrealizablevalue,whicheverislower.Ifthenetrealizablevalueislowerthanthecost,theprovisionfordeclineinthevalueofinventoriesisaccrued.Netrealizablevalueistheestimatedsellingpricelessestimatedcoststobeincurreduponcompletion,estimatedsellingexpenses,andrelatedtaxes.Whenthenetrealizablevalueofinventoriesisdetermined,theobtainedconcreteevidenceistakenasabasis,andthepurposeofholdinginventoriesandtheimpactofmattersafterthebalancesheetdatearetakenintoconsideration.TheCompanyusuallyconductstheprovisionfordeclineinthevalueofinventoriesonanindividualinventoryitembasis.Fortheinventorieswithhighquantityandlowunitprice,theprovisionfordeclineinthevalueofinventorieswillbedonebyinventoryclass.Onthebalancesheetdate,ifthefactorsaffectingthepreviouswrite-downofinventoryvaluehavedisappeared,theprovisionfordeclineinthevalueofinventoriesshallbereversedwithintheamountoriginalprovision.

(4)InventorysystemTheCompanyadoptstheperpetualinventorysystem.

(5)Amortizationmethodforlow-valueconsumablesTheCompanyadoptstheone-offamortizationmethodforlow-valueconsumablescollected.

13.Long-termequityinvestmentsLong-termequityinvestmentsincludeequityinvestmentsinsubsidiaries,jointventures,andassociates.WhentheCompanycanexercisesignificantinfluenceovertheinvestee,theinvesteeisanassociate.

(1)RecognitionofinitialinvestmentcostLong-termequityinvestmentformedbybusinesscombination:Forlong-termequityinvestmentacquiredthroughbusinesscombinationundercommoncontrol,thebookvalueshareoftheowner'sequityofthecombinedpartyintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyshallberecognizedastheinvestmentcostonthecombinationdate;forlong-termequityinvestmentacquiredthroughbusiness

combinationunderdifferentcontrol,thecombinationcostshallberecognizedastheinvestmentcostoflong-termequityinvestment.Forlong-termequityinvestmentsacquiredbyothermethods:Forthoseacquiredbycashpayment,theactualpurchasepriceshallbetakenastheinitialinvestmentcost;forthoseacquiredbyissuingequitysecurities,thefairvalueofissuedequitysecuritiesshallbetakenastheinitialinvestmentcost.

(2)SubsequentmeasurementandrecognitionofrelatedprofitorlossInvestmentsinsubsidiariesareaccountedforusingthecostmethodunlesstheymeettheconditionsofbeingheldforsale;investmentsinassociatesandjointventuresarecalculatedthroughtheequitymethod.Forlong-termequityinvestmentscalculatedbycostmethod,exceptforthedeclaredbutnotyetreleasedcashdividendsorprofitsincludedintheactualpriceorconsiderationpaidwhenacquiringtheinvestment,thedistributedcashdividendsorprofitsdeclaredbytheinvesteeshallberecognizedasinvestmentincomeandincludedincurrentprofitsandlosses.Forlong-termequityinvestmentscalculatedthroughtheequitymethod,iftheinitialinvestmentcostisgreaterthantheshareoffairvalueofnetidentifiableassetsoftheinvesteeatthetimeofinvestment,theinvestmentcostofthelong-termequityinvestmentshallnotbeadjusted;iftheinitialinvestmentcostislessthantheshareoffairvalueofnetidentifiableassetsoftheinvesteeatthetimeofinvestment,thebookvalueofthelong-termequityinvestmentshallbeadjustedandthedifferenceshallbeincludedincurrentprofitsandlosses.Forequitymethod-basedcalculation,theinvestmentincomeandothercomprehensiveincomeshallberecognizedrespectivelyaccordingtotheshareofthenetprofitsandlossesandothercomprehensiveincomerealizedbytheinvesteethatshallbeenjoyedorshared.Meanwhile,thebookvalueofthelong-termequityinvestmentshallbeadjusted.Thepartofthedueshareshallbecalculatedaccordingtothedistributedprofitorcashdividenddeclaredbytheinvestee,andthebookvalueofthelong-termequityinvestmentshallbereducedaccordingly.Forotherchangesofowners'equityoftheinvesteeapartfromnetprofitandloss,othercomprehensiveincome,andprofitdistribution,thebookvalueoflong-termequityinvestmentshallbeadjustedandincludedincapitalreserve(othercapitalreserves).Therecognitionoftheshareoftheinvestee'snetprofitsandlossesthatshouldbeenjoyedisbasedonthefairvalueoftheidentifiableassetsoftheinvesteeatthetimeofinvestmentacquisition.Theinvestee'snetprofitisthenadjustedpertheCompany'saccountingpoliciesbeforerecognitionduringtheaccountingperiod.Ifitcanexertasignificantinfluenceorimplementjointcontroltotheinvesteebutnotconstitutethecontrolduetotheadditionalinvestmentandothercauses,onthedateoftransition,thesumofthefairvalueofequityoriginallyheldandthenewinvestmentcostshallberegardedastheinitialinvestmentcostaccountedthroughtheequitymethod.Iftheoriginalequityisclassifiedasanon-tradingequityinstrumentinvestmentmeasuredatfairvaluewithchangesintoothercomprehensiveincome,therelatedaccumulatedchangesinfairvalueoriginallyincludedinothercomprehensiveincomeshallbetransferredtoretainedearningsinaccountingusingtheequitymethod.SupposetheCompanylosesjointcontroloverorsignificantinfluenceontheinvesteeduetothedisposalofpartialequityinvestmentandotherreasons.Inthatcase,theremainingequityafterdisposalshallbesubjecttoaccountingtreatmentaccordingtotheAccountingStandardsforBusinessEnterprisesNo.22—Recognition

andMeasurementofFinancialInstrumentsonthedateoflosingjointcontrolorsignificantinfluence,andthedifferencebetweenfairvalueandbookvalueshallbeincludedincurrentprofitsandlosses.Othercomprehensiveincomerecognizedfromtheoriginalequityinvestmentduetoaccountingthroughtheequitymethodshallbesubjecttoaccountingtreatmentusingthesamebasisonwhichtheinvesteedirectlydisposesofrelevantassetsorliabilitieswhentheaccountingwiththeequitymethodisterminated;otherchangesinowner'sequityrelatedtotheoriginalequityinvestmentshallbetransferredintocurrentprofitsandlosses.IftheCompanylosescontrolovertheinvesteeduetothedisposalofpartialequityinvestmentorotherreasons,andtheresidualequityafterdisposalcanexercisejointcontroloverorsignificantinfluenceontheinvestee,itshallbeaccountedforthroughtheequitymethodinstead,andadjustedasifithadbeencalculatedthroughtheequitymethodsinceitwasacquired;iftheresidualequityafterdisposalcannotexercisejointcontroloverorsignificantinfluenceontheinvestee,itshallbesubjecttoaccountingtreatmentaccordingtorelevantprovisionsofAccountingStandardsforBusinessEnterprisesNo.22—RecognitionandMeasurementofFinancialInstruments,andthedifferencebetweenitsfairvalueandbookvaluesincethedateoflosingcontrolshallbeincludedincurrentprofitsorlosses.IftheshareholdingproportionoftheCompanydecreasesduetocapitalincreasebyotherinvestors,resultinginlossofcontrolbutcommoncontroloverorsignificantinfluenceontheinvestee,theCompany'sshareofnetassetsincreasedduetocapitalincreaseandshareexpansionoftheinvesteeshallberecognizedaccordingtothenewshareholdingproportion.Thedifferencebetweentheoriginalbookvalueoflong-termequityinvestmentcorrespondingtothedecreaseintheshareholdingproportionthatshallbecarriedforwardshallbeincludedincurrentprofitsandlosses;thenewshareholdingproportionisthenadjustedasifithadbeenaccountedforusingtheequitymethodsincetheacquisitionoftheinvestment.UnrealizedinternaltransactiongainsandlossesbetweentheCompanyandassociatesandjointventuresshallbecalculatedaccordingtotheshareholdingproportion,andtheinvestmentgainsandlossesshallberecognizedbasedontheoffset.However,theunrealizedinternaltransactionlossesincurredbetweentheCompanyandtheinvesteethatbelongtoimpairmentlossoftransferredassetsshallnotbeoffset.

(3)BasisfordeterminingjointcontrolandsignificantinfluenceontheinvesteeJointcontrolreferstothesharingofcontrolovercertainarrangementsunderrelatedagreements,andassociatedactivitiesofthearrangementcanbedeterminedonlywhentheunanimousconsentofthepartiessharingthecontrolrightisobtained.Whendeterminingtheexistenceofjointcontrol,thefirststepistoassesswhetherthearrangementiscollectivelycontrolledbyallpartiesinvolvedoracombinationoftheparties.Thenextstepistoevaluatewhetherdecisionsabouttherelevantactivitiesofthearrangementrequiretheunanimousconsentofthosepartieswhocollectivelycontrolthearrangement.Ifallparticipantsoragroupofparticipantsmustactinconcerttodecidetherelevantactivitiesofanarrangement,itisconsideredthatallparticipantsoragroupofparticipantscollectivelycontrolthearrangement;iftwoormoreparticipantscancollectivelycontrolanarrangement,itdoesnotconstitutejointcontrol.Protectiverightsarenotconsideredindeterminingwhetherornotthereisjointcontrol.Significantinfluencemeansthepoweroftheinvestortoparticipateinmakingdecisionsonthefinancialandoperatingpoliciesofaninvestee,buttheinvestorcannotcontrolorjointlycontrolwithotherpartiesovertheformulationofthesepolicies.Whendeterminingwhethersignificantinfluencecanbeexertedontheinvestee,

weshallconsidertheimpactofvotingsharesdirectlyorindirectlyheldbytheinvestorandcurrentexecutablepotentialvotingrightsheldbytheinvestorandotherpartiesaftertheyareassumedtobeconvertedintoequityintheinvestee,includingtheimpactofcurrentconvertiblewarrantsandshareoptionsandconvertiblecorporatebondsissuedbytheinvestee.IftheCompanydirectlyownsorindirectlyowns,viaitssubsidiaries,morethan20%(including)butlessthan50%ofvotingsharesoftheinvestee,theconditionshallberecognizedasexertingsignificantinfluenceontheinvesteeunlessconcreteevidenceshowsthatparticipationintheproductionandbusinessdecisionsoftheinvesteeisnotallowedwithoutconstitutingsignificantinfluence.IfthevotingsharesoftheinvesteeownedbytheCompanyarelessthan20%(notincluding),theconditionshallnotbeconsideredasbeingofsignificantinfluenceontheinvesteeingeneralunlessconcreteevidenceshowsthattheCompanycanparticipateintheproductionandbusinessdecisionsoftheinvesteeunderthiscondition,constitutingsignificantinfluence.

(4)ImpairmenttestmethodandaccrualmethodforimpairmentprovisionForinvestmentsinsubsidiaries,associates,andjointventures,pleaseseeNoteV.19fortheaccrualmethodforimpairmentprovision.

14.Investmentproperties

MeasurementmodelofinvestmentpropertiesCostmethodDepreciationoramortizationmethodInvestmentpropertiesarepropertiesheldforrentearnings,capitalappreciation,orboth.InvestmentpropertiesoftheCompanyincludethelandrightofusethathasalreadybeenrented,thelandrightofuseheldfortransferafterappreciation,andbuildingsthathavebeenrented.InvestmentpropertiesoftheCompanyshallbeinitiallymeasuredasperthepriceuponacquisitionanddepreciatedoramortizedonscheduleasperrelevantprovisionsonfixedassetsorintangibleassets.Investmentpropertiesaremeasuredsubsequentlyasperthecostmodel.SeeNoteV.19fortheprovisionmethodofassetsimpairment.Thedisposalincomefromthesale,transfer,discard,ordestructionoftheinvestmentpropertiesshallbeincludedincurrentprofitsandlossesaftertheirbookvalueandrelevanttaxesarededucted.

15.Fixedassets

(1)RecognitionconditionsFixedassetsoftheCompanyrefertothetangibleassetsheldforproducinggoods,renderinglaborservices,renting,orbusinessmanagementwithausefullifeofoveronefiscalyear.Thefixedassetscanberecognizedonlywhentheeconomicbenefitsrelatedtosuchfixedassetsarelikelytoflowintoanenterpriseandthecostofsuchfixedassetscanbemeasuredreliably.

FixedassetsoftheCompanyshallbeinitiallymeasuredattheactualcostwhenacquired.Forthesubsequentexpensesrelatedtofixedassets,iftheeconomicbenefitsoftheassetsarelikelytoflowintotheCompanyandthecostcanbereliablymeasured,theyareincludedinthecostoffixedassets;dailyrepaircostsoffixedassetsthatdonotmeettheconditionsforsubsequentexpensesforcapitalizationoffixedassetsareincludedincurrentprofitsandlossesorthecostofrelevantassetsaccordingtothebeneficiariesuponoccurrence.Thebookvalueofthepartbeingreplacedwillbederecognized.

(2)Depreciationmethod

Category	Depreciationmethod	Depreciationperiod	Residualratio	Annualdepreciationrate
Premisesandbuildings	Straight-linemethod	10,35-40	0,3	10,2.43-2.77
Including:Decorationofself-ownedhouses	Straight-linemethod	10	0	10
Machineryandequipment	Straight-linemethod	12	3	8.08
Electronicequipment	Straight-linemethod	5-7	3	13.86-19.4
Transportationequipment	Straight-linemethod	7	3	13.86
Officesandotherequipment	Straight-linemethod	7	3	13.86

Thedepreciationrateoffixedassetswithprovisionforimpairmentshallbecalculatedbydeductingtheaccumulatedamountofprovisionforimpairmentoffixedassets.

16.ConstructioninprogressTheCompany'scostofconstructioninprogressisdeterminedaccordingtotheactualconstructionexpenditures,includingvariousnecessaryconstructionexpendituresincurredduringtheconstructionperiod,borrowingcoststhatshallbecapitalizedbeforetheprojectreachestheexpectedserviceablecondition,andotherrelevantexpenses.Constructioninprogressistransferredtofixedassetswhenitisreadyforitsintendeduse.SeeNoteV.19fortheprovisionmethodofassetsimpairmentoftheconstructioninprogress.

17.Borrowingcosts

(1)RecognitionprincipleforcapitalizationofborrowingcostsBorrowingcostsincurredbytheCompanythataredirectlyattributabletotheacquisition,construction,orproductionofassetseligibleforcapitalizationshallbecapitalizedandincludedinrelevantassetcosts;otherborrowingcostsshallberecognizedasexpensesaccordingtotheiramountwhenincurredandincludedincurrentprofitsandlosses.Borrowingcostsshallbecapitalizedwhenallofthefollowingconditionsaresatisfied:

①Expendituresonanassethavebeenincurred,andexpendituresontheassetcomprisepaymentsincash,transferofnon-cashassets,orassumptionofdebtswithinterestsforacquisitionandconstructionorproductionoftheassetqualifyingforcapitalization;

②Borrowingcostshavebeenoccurred;

③Theacquisition,construction,orproductionactivitiesnecessarytobringtheassetstotheirintendeduseorsalehavestarted.

(2)PeriodofborrowingcostscapitalizationThecapitalizationofborrowingcostsshallceasewhentheassetseligibleforcapitalizationacquired,constructed,orproducedbytheCompanyarereadyfortheirintendeduseorsale.Borrowingcostsincurredaftertheassetsmeetingcapitalizationconditionsarereadyfortheirintendeduseorsaleshallberecognizedasexpensesaccordingtotheamountincurredandincludedinthecurrentprofitsorlosses.Iftheacquisition,construction,orproductionofassetseligibleforcapitalizationisinterruptedabnormallyandtheinterruptionperiodexceedsthreeconsecutivemonths,thecapitalizationofborrowingcostsshallbesuspended;theborrowingcostsduringthenormalinterruptionperiodshallcontinuetobecapitalized.

(3)CapitalizationrateandcalculationmethodofcapitalizationamountofborrowingcostsThebalanceoftheinterestfromspecialborrowingsthatoccurredinthecurrentperioddeductingtheinterestincomeacquiredfromunusedborrowingsdepositedinbanksordeductinginvestmentincomefromtemporaryinvestmentoftheborrowingsshallbecapitalized.Thecapitalizedamountofgeneralborrowingshallbedeterminedbymultiplyingtheweightedaverageoftheassetexpendituresfromtheaccumulativeassetexpendituresexceedingthespecialborrowingbythecapitalizationrateofgeneralborrowingoccupied.Thecapitalizationrateisdeterminedbasedontheweightedaverageinterestrateofgeneralborrowing.Duringthecapitalizationperiod,thebalanceofexchangeforspecialforeign-currencyborrowingsshallbecapitalizedinfullamount,whilethatofgeneralforeign-currencyborrowingsshallbeincludedincurrentprofitsandlosses.

18.Intangibleassets

(1)Servicelifeanditsdeterminationbasis,estimation,amortizationmethod,orreviewprocedureTheCompany'sintangibleassetsincludelanduserights,computersoftware,trademark,etc.Intangibleassetsareinitiallymeasuredatcostandtheirservicelifeisdetermineduponacquisition.Iftheservicelifeofanintangibleassetislimited,itshallbeamortizedwithintheestimatedservicelifewithanamortizationmethodthatcanreflecttheexpectedrealizationmodeofeconomicbenefitsrelatedtotheassetsincetheassetisavailableforuse;iftheexpectedrealizationmodecannotbereliablydetermined,theassetshallbeamortizedwiththestraight-linemethod;intangibleassetswithuncertainservicelifeshallnotbeamortized.

Theamortizationmethodforintangibleassetswithlimitedservicelifeisasfollows:

Category	Servicelife	Determinationbasisofservicelife	Amortizationmethod	Remarks
Landuseright	50years	Legalrighttouse	Straight-linemethod
Computersoftware	5years	DeterminetheservicelifewithreferencetothetermthatcanbringeconomicbenefitstotheCompany	Straight-linemethod
Trademark	10years	DeterminetheservicelifewithreferencetothetermthatcanbringeconomicbenefitstotheCompany	Straight-linemethod

Attheendofeachyear,theCompanyshallrechecktheservicelifeandamortizationmethodofintangibleassetswithfiniteservicelife.Iftherearechangesfrompreviousestimates,theoriginalestimatesshallbeadjusted,andthechangesshallbeaccountedforaschangesinaccountingestimates.IfanintangibleassetisexpectednolongertogeneratefutureeconomicbenefitsfortheCompanyatthebalancesheetdate,thebookvalueoftheassetistransferredtocurrentprofitsandlosses.SeeNoteV.19fortheprovisionmethodofassetsimpairmentoftheintangibleassets.

(2)CollectionscopeofR&DexpendituresandrelevantaccountingtreatmentmethodsTheR&DexpendituresoftheCompanyrefertoexpendituresdirectlyrelatedtotheR&DactivitiesoftheCompany,includingsalariesofR&Dpersonnel,directR&Dinvestments,depreciationexpensesandlong-termdeferredexpenses,designexpenses,equipmentcommissioningexpenses,amortizationexpensesofintangibleassets,expensesincurredfromcommissionedexternalR&D,andotherexpenses.ThesalariesofR&DpersonnelareincludedinR&Dexpendituresaccordingtotheprojectworkinghours.TheCompanydividestheexpenditureofinternalR&Dprojectsintoresearchstageexpenditureanddevelopmentstageexpenditure.Expendituresattheresearchstageshallbeincludedincurrentprofitsorlosseswhenincurred.Expendituresatthedevelopmentstagecanbecapitalizedonlywhenallofthefollowingconditionsaremet,namely:Itistechnicallyfeasibletocompletetheintangibleassetssothattheycanbeusedorsold;thereisanintentiontocompletetheintangibleassetanduseorsellit;waysforintangibleassetstogenerateeconomicbenefitsincludeprovingthatthereisamarketfortheproductsproducedbyusingtheintangibleassetsortheintangibleassetsthemselves,aswellasprovingtheirusefulnessifintangibleassetsaretobeusedinternally;therearesufficienttechnical,financial,andotherresourcestocompletethedevelopmentoftheintangibleassetsandhavetheabilitytouseorsellthem;theexpendituresattributabletothedevelopmentstageofintangibleassetscanbemeasuredreliably.Developmentexpendituresthatdonotmeettheaboveconditionsareincludedincurrentprofitsandlosses.TheR&DprojectsoftheCompanywillenterthedevelopmentstageaftermeetingtheaboveconditionsandpassingthetechnicalfeasibilitystudyandeconomicfeasibilitystudytogainprojectapproval.

Thecapitalizedexpendituresinthedevelopmentstageshallbepresentedasdevelopmentcostsonthebalancesheetandshallbetransferredintointangibleassetsfromthedatewhentheprojectmeetstheexpectedusage.

19.Impairmentoflong-termassetsTheimpairmentofthelong-termequityinvestmentsinsubsidiaries,associates,andjointventures,aswellasofinvestmentproperties,fixedassets,constructioninprogress,right-of-useassets,intangibleassets,andothers,subsequentlymeasuredbycostmodel(exceptforinventories,investmentproperties,deferredincometaxassets,andfinancialassetsmeasuredbyfairvaluemodel)shallbedeterminedbytheCompanyaccordingtothefollowingmethods:

TheCompanyjudgeswhetherthereisasignofimpairmenttoassetsonthebalancesheetdate.Ifsuchasignexists,theCompanyestimatestherecoverableamountandconductstheimpairmenttest.Thegoodwillformedduetobusinesscombination,intangibleassetswithuncertainusefullife,andintangibleassetsthathavenotyetreachedtheusablestateshallbetestedforimpairmenteveryyearregardlessofwhetherthereisanysignofimpairment.Therecoverableamountisthenetamountgainedafterthefairvalueofassetsdeductsthedisposalfees,orthepresentvalueoftheestimatedfuturecashflowoftheassets,whicheverishigher.TheCompanyestimatestherecoverableamountonasingle-assetbasis.Ifitisdifficulttoestimatetherecoverableamountofasingleasset,therecoverableamountoftheassetgroupshallbedeterminedbasedontheassetgrouptowhichtheassetbelongs.Theassetgroupisdeterminedbywhetherthemaincashflowgeneratedbytheassetgroupisindependentofthosegeneratedbyotherassetsorassetgroups.Whentheassetorassetgroup'srecoverableamountislowerthanitsbookvalue,theCompanyreducesitsbookvaluetoitsrecoverableamount,thereducedamountisrecordedinthecurrentprofitandloss,andtheprovisionforimpairmentofassetsisrecognized.Fortheimpairmenttestofgoodwill,thebookvalueofgoodwillformedbythebusinesscombinationshallbeamortizedtorelevantassetgroupswithareasonablemethodsincetheacquisitiondate;ifitisdifficulttoamortizetorelevantassetgroups,itshallbeamortizedtorelevantassetgroupportfolios.AssetgrouporportfolioofassetgroupisanassetgrouporportfolioofassetgroupthatcanbenefitfromsynergiesofabusinesscombinationandisnotgreaterthanthereportablesegmentoftheCompany.Duringtheimpairmenttest,ifthereisanysignofimpairmentintheassetgroupsorportfoliosofassetgroupsrelatedtogoodwill,firstconductanimpairmenttestforassetgroupsorportfoliosofassetgroupsthatdonotcontaingoodwill,calculatetherecoverableamount,andrecognizethecorrespondingimpairmentloss.Then,animpairmenttestshallbeconductedontheassetgroupsorportfoliosofassetgroupsthatincludegoodwill.Thebookvalueshouldbecomparedwiththerecoverableamount;iftherecoverableamountisfoundtobelowerthanthebookvalue,animpairmentlossforgoodwillshallberecognized.Oncerecognized,theimpairmentlossofassetsshallnotbereversedinfutureaccountingperiods.

20.Long-termdeferredexpensesLong-termdeferredexpensesoftheCompanyshallbevaluedasperactualcostandaveragelyamortizedaspertheexpectedbenefitperiod.Ifthelong-termdeferredexpenseprojectwillnotbenefitthefutureaccountingperiod,theamortizedvalueoftheprojectshallbeincludedinthecurrentprofitandlossinfullamount.

21.Employeecompensation

(1)Accountingtreatmentforshort-termcompensationDuringtheaccountingperiodwhenemployeesprovideservices,theCompanyrecognizestheactualsalaryandbonusofemployees,socialinsurancepremiumssuchasmedicalinsurancepremiums,work-relatedinjuryinsurancepremiums,andmaternityinsurancepremiumspaidforemployeesaccordingtothespecifiedbenchmarkandproportion,andhousingfundasliabilities,andincludesthemincurrentprofitsandlossesorrelevantassetcosts.

(2)Accountingtreatmentforpost-employmentbenefitsPost-employmentbenefitplansincludedefinedcontributionplansanddefinedbenefitplans.Amongthem,thedefinedcontributionplanreferstoapost-employmentbenefitplaninwhichtheenterprisehasnofurtherpaymentobligationafterpayingfixedexpensestoanindependentfund;thedefinedbenefitplanreferstoapost-employmentbenefitplanotherthanadefinedcontributionplan.DefinedcontributionplanThedefinedcontributionplanincludesbasicendowmentinsurance,unemploymentinsurance,etc.Duringtheaccountingperiodwhenemployeesprovideservices,theamountpayablecalculatedaccordingtothedefinedcontributionplanisrecognizedasaliabilityandincludedincurrentprofitsandlossesorrelatedassetcosts.DefinedbenefitplansFordefinedbenefitplans,anindependentactuaryshallcarryoutactuarialvaluationontheannualbalancesheetdate,anddeterminethecostofprovidingbenefitswiththeexpectedcumulativewelfareunitmethod.EmployeecompensationcostsarisingfromthedefinedbenefitplanoftheCompanyshallincludethefollowingcomponents:

①Servicecosts,includingcurrentservicecosts,pastservicecosts,andsettlementgainsorlosses.Currentservicecostsrefertotheincreasedamountinthepresentvalueofdefinedbenefitplanobligationscausedwhenemployeesprovideservicesinthecurrentperiod;pastservicecostsrefertotheincreaseordecreaseinthepresentvalueofdefinedbenefitplanobligationsrelatedtoemployeeservicesinpreviousperiodscausedbymodificationsfordefinedbenefitplans.

②Netinterestonthedefinedbenefitplannetliabilitiesorassets,includinginterestincomeonplanassets,interestcostonthedefinedbenefitplanobligation,andinterestontheeffectoftheassetceiling.

③Changesasaresultofremeasurementofthedefinedbenefitplan'snetliabilitiesorassets.Unlessotheraccountingstandardsrequireorallowemployee'sbenefitcoststobeincludedinassetscosts,theaboveitems①and②shallbeincludedbytheCompanyincurrentprofitsandlosses;item③shallbeincludedinothercomprehensiveincomeandbenotreversedtoprofitorloss;whentheoriginaldefinedbenefitplanisterminated,theamountincludedinothercomprehensiveincomebeforeshallbecompletelytransferredtotheundistributedprofit.

(3)AccountingtreatmentforterminationbenefitsIftheCompanyprovidesterminationbenefitstoemployees,theemployeecompensationliabilitiesarisingfromtheterminationbenefitsshallberecognizedattheearliestofthefollowingtwodatesandincludedincurrentprofitsandlosses:TheCompanycannotunilaterallywithdrawtheterminationbenefitsprovidedduetothelaborrelationshipterminationplanorlayoffproposal;theCompanyrecognizesthecostsorexpensesrelatedtotherestructuringinvolvingthepaymentofterminationbenefits.Ifanemployee'sinternalretirementplanisimplemented,theeconomiccompensationbeforetheofficialretirementdatebelongstotheterminationbenefits.Duringtheperiodfromthedatewhentheemployeestopsprovidingservicestothenormalretirementdate,thewagestobepaidtotheearlyretiredemployeesandthesocialinsurancepremiumstobepaidareincludedincurrentprofitsandlossesinalumpsum.Economiccompensationaftertheofficialretirementdate(suchasthepension)istreatedaspost-employmentbenefits.

(4)Accountingtreatmentforotherlong-termemployeebenefitsTheotherlong-termemployeebenefitsprovidedbytheCompanytoitsemployees,whichmeetthecriteriaforadefinedcontributionplan,shallbehandledpertheregulationsrelevanttothedefinedcontributionplanmentionedabove.Ifthebenefitsmeetthedefinedbenefitplan,theyshallbehandledpertherelevantprovisionsonthedefinedbenefitplanabove,butthepartof"changesarisingfromre-measuringthenetliabilitiesornetassetsofthedefinedbenefitplan"intherelevantemployeecompensationcostsshallbeincludedincurrentprofitsandlossesortherelevantassetcosts.

22.EstimatedliabilitiesAnobligationrelatedtocontingencies,ifsatisfyingthefollowingconditionsatthesametime,willberecognizedasanestimatedliabilitybytheCompany:

(1)TheobligationisthecurrentobligationoftheCompany;

(2)PerformanceofthisobligationwillprobablycauseoutflowofeconomicinterestoftheCompany;

(3)Theamountofsuchobligationcanbemeasuredreliably.Estimatedliabilitiesareinitiallymeasuredattheoptimalestimaterequiredtoperformtherelevantcurrentobligation,incomprehensiveconsiderationoftherisks,uncertainty,timevalueofmoney,andotherfactorspertinenttothecontingencies.Wherethetimevalueofmoneyisofsignificantinfluence,theoptimalestimateis

recognizedthroughthediscountofrelevantfuturecashoutflows.Atthebalancesheetdate,thebookvalueoftheestimatedliabilitiesisreviewedandadjustedbytheCompanytoreflectthecurrentbestestimate.Ifallorpartoftheexpendituresnecessaryforclearingofftherecognizedestimatedliabilitiesareexpectedtobecompensatedbyathirdpartyoranyotherparty,theamountofcompensationshallberecognizedasassetsseparatelyonlywhenitisbasicallysurethattheamountcanbeobtained.Therecognizedamountofcompensationshallnotexceedthebookvalueofrecognizedliabilities.

23.Revenue

Accountingpoliciesofrevenuedisclosurerecognitionandmeasurementbybusinesstypes

(1)GeneralprincipleTheCompanyhasfulfilleditsperformanceobligationsofthecontract,whichmeansitrecognizestherevenuewhenthecustomerhasacquiredthecontrolrightsofrelevantgoodsorservices.Ifthecontractcontainstwoormoreperformanceobligations,theCompanyshall,atthebeginningdateofthecontract,apportionthetransactionpricetoeachperformanceobligationaccordingtotherelativeproportionoftheindividualsellingpriceofthecommoditiesorservicespromisedbyeachperformanceobligation,andmeasuretherevenueaccordingtothetransactionpriceapportionedtoeachperformanceobligation.Whenoneofthefollowingconditionsismet,itisconsideredthefulfillmentofperformanceobligationsoveraperiodoftime;otherwise,itisregardedasthefulfillmentofperformanceobligationsataspecificpointintime:

①ThecustomersimultaneouslyobtainsandconsumestheeconomicbenefitsarisingfromthecontractperformanceoftheCompany.

②ThecustomercancontrolthegoodsunderconstructionduringtheperformanceoftheCompany.

③ThegoodsproducedduringtheperformanceoftheCompanyhaveirreplaceableuses,andtheCompanyhastherighttocollectpaymentsfortheaccumulatedperformanceportiontodatethroughoutthecontractperiod.Fortheperformanceobligationsperformedwithinacertainperiodoftime,theCompanyshallrecognizetherevenuewithinthatperiodaccordingtotheperformanceprogress.IftheperformanceprogresscannotbereasonablyconfirmedandthecostsincurredbytheCompanyareexpectedtobecompensated,theincomesshallberecognizedaccordingtotheamountofcostsincurreduntiltheperformanceprogressisreasonablyconfirmed.Inthecaseofaperformanceobligationsatisfiedatacertaintimepoint,therevenueshallberecognizedbytheCompanyatacertaintimepointwhenacustomerobtainscontrolofrelevantgoodsorservices.Indeterminingwhetheracustomerhasobtainedthecontrolrightsofthegoodsorservices,theCompanyshallconsiderthefollowingsigns:

①TheCompanyenjoysthecurrentcollectionrightconcerningsuchgoodsorservices,i.e.,customershavetheobligationtopayimmediatelyconcerningthegoods.

②TheCompanyhastransferredthelegalownershipofthegoodstocustomers,i.e.,customershaveownedthelegalownershipofthegoods.

③TheCompanyhastransferredthegoodstocustomersinkind,i.e.,customershavepossessedthegoods.

④TheCompanyhastransferredthemajorrisksandrewardsfromtheownershipofthegoodstocustomers,i.e.,customershaveobtainedthemajorrisksandremunerationontheownershipofthegoods.

⑤Customershaveacceptedsuchgoodsorservices.

⑥Othersignsindicatethatcustomershaveobtainedtherighttocontrolthegoods.

(2)SpecificmethodTheCompany'srevenueismainlyderivedfromthefollowingbusinesses:Propertyleasingandservices,jewelrysalesandservices.

①PropertyleasingandservicesTheCompanyrecognizestheleasereceiptsasrentalincomewiththestraight-linemethodduringeachperiodoftheleaseterm,capitalizestheincurredinitialdirectcostsandamortizesthemonthesamebasisforrentalincomerecognition,andincludesthemincurrentprofitsandlossesbystages.TheCompany'svariableleasepaymentobtainedthatisrelatedtooperatingleasingandnotincludedinleasereceiptsisincludedinthecurrentprofitsandlosseswhenitactuallyoccurs.ThecontractfortheprovisionofservicesbetweentheCompanyandcustomersincludestheperformanceobligationofservicesrelatedtotheleaseofrealestate.SincecustomersobtainandconsumetheeconomicbenefitsbroughtbytheCompany'sperformanceatthesametime,theCompanyregardsitastheperformanceobligationtobeperformedwithinacertainperiodoftime,andtherevenueisequallyapportionedandrecognizedduringtheserviceprovisionperiod.

②SalesandservicesofgoldandjewelryTheCompanydetermineswhetheritisthemainresponsiblepersonortheagentduringtransactionsaccordingtoitscontrolovergoodsorservicesbeforetransferringthemtocustomers.IftheCompanyhascontroloverthegoodsorservicesbeforetransferringthemtocustomers,theCompanyisthemainresponsiblepersonandrecognizestherevenueaccordingtothetotalconsiderationreceivedorreceivable;otherwise,theCompanyactsasanagent,andrecognizestherevenueaccordingtotheamountofcommissionorhandlingchargeexpectedtobeentitled,whichisdeterminedaccordingtothenetamountofthetotalconsiderationreceivedorreceivableafterdeductingthepricepayabletootherrelatedparties,oraccordingtotheestablishedcommissionamountorproportion.Thespecificrecognitionmethodofrevenuesgeneratedfromgoldandjewelrysalesisasfollows:

Ingoldandjewelrysales,theCompanymainlytakesadirect-salesmodel,withthesalesagencymodelasasupplement.Forthedirect-salesmodel,thesaleschannelsincludewholesalers,e-commerce,andretailindirect-

salesstores.Thetimepointsforrevenuerecognitionunderthesalesmodelswithsuchchannelsaswholesalers,e-commerce,andretailareasfollows:

①Inwholesalersales,purchaserscooperatewiththeCompanydirectly.Thetimepointiswhenthegoods-relatedcontrolrightshavebeentransferredtothepurchasers,whichsignifiesthattheperformanceobligationiscompletedaccordingtothesalescontract.Therevenuewillthenberecognizedaftercustomersacceptthegoodsandissuereceipts.Thisisaperformanceobligationperformedatacertaintimepoint.

②Ine-commercesales,theCompanysellsgoodsone-commerceplatforms.ThesalesrevenuewillberecognizedwhencustomershavesignedforthegoodsandtheCompanyhasreceivedpaymentsorobtainedtherighttoclaimpayments.Thisisaperformanceobligationperformedatacertaintimepoint.

③Inretailthroughdirect-salesstores,theCompanysellsitsgoodsinitsself-ownedrealestate.ThesalesrevenuewillberecognizedwhentheCompanyhassoldgoodstocustomersandreceivedpaymentsorobtainedtherighttoclaimpayments.Thisisaperformanceobligationperformedatacertaintimepoint.

④Inthesalesagencymodel,theCompanysendsproductstostoresofentrustedsellers.Thesalesrevenuewillberecognizedwhenthesellershavesoldgoodstoendconsumers,endconsumershavesignedforgoods,andthecontrolrighthasbeentransferredtoendconsumers.Thisisalsothetimepointsignifyingthattheobligationperformanceforthecontractisdone.Thisisaperformanceobligationperformedatacertaintimepoint.ThespecificmethodsforrecognizingotherrevenuesfortheCompanyareasfollows:

Inthegoldandjewelrysalesagencybusiness,theCompanyactsasanagentandprovidesagencyservicesforprincipalsaccordingtotheagencypurchaseagreementtoearnagencycommissionfees.TheCompanyrecognizestheagencycommissionrevenuewhencustomerspayandsignforgoods.Intheagencygoldrepurchasebusiness,theCompanyactsasasupplieragenttorepurchasegoldandcollectservicefees.Revenueiscalculatedandrecognizedbasedonthedurationoftheagencygoldrepurchaseandaccordingtothecontract.

RecognitionmethodsandmeasurementmethodsforthesamekindofbusinesswithdifferentbusinessmodelsanddifferentrevenuesTheCompanyshallabidebythedisclosurerequirementsfor"jewelry-relatedbusiness"intheGuidelinesofShenzhenStockExchangeforSelf-RegulatorySupervisionofListedCompaniesNo.3—IndustryInformationDisclosure.

24.GovernmentsubsidiesThegovernmentsubsidiesshallberecognizedwhenalltheattachedconditionscanbesatisfiedandthegovernmentsubsidiescanbereceived.Thegovernmentsubsidiesofmonetaryassetsshallbemeasuredattheamountreceivedorreceivable.Thegovernmentsubsidiesconsiderednon-monetaryassetsaremeasuredbasedonthefairvalue,orthenominalamountofRMB1ifthefairvaluecannotbeacquiredreliably.Asset-relatedgovernmentsubsidiesrefertotheonesthatareacquiredbytheCompanyandusedforestablishingorforminglong-termassetsinotherways.Othergovernmentsubsidiesareconsideredrevenue-relatedgovernmentsubsidies.

Forthegovernmentsubsidieswiththegrantobjectsnotexpresslystipulatedinthegovernmentdocuments,iftheycanbeusedtoformlong-termassets,thegovernmentsubsidiescorrespondingtothevalueoftheassetsaredeemedasasset-relatedgovernmentsubsidieswhiletherestaredeemedasrevenue-relatedgovernmentsubsidies.Forthegovernmentsubsidiesthataredifficulttodifferentiate,thegovernmentsubsidiesasawholearedeemedasrevenue-relatedgovernmentsubsidies.Theasset-relatedgovernmentsubsidiesshallberecognizedasdeferredincome,whichshallbeincludedinprofitsandlossesininstallmentsreasonablyandsystematicallywithintheservicelifeoftherelevantassets.Forrevenue-relatedgovernmentsubsidies,theyshallbeincludedinthecurrentprofitandlossifusedtocompensatefortheincurredrelatedcostsorlosses;ifusedtocompensatefortherelatedcostsorlossesduringfutureperiods,theyshallbeincludedinthedeferredincome,andincludedinthecurrentprofitandlossduringtheperiodwhentherelatedcostsorlossesarerecognized.Governmentsubsidiesmeasuredatthenominalamountshallbedirectlyincludedincurrentprofitsandlosses.TheCompanyadoptsthesametreatmentforthosetransactionsofsimilargovernmentsubsidies.Thegovernmentsubsidiesrelatedtodailyactivitiesshallbeincludedinotherincomesaccordingtotheessenceofeconomicbusiness.Governmentsubsidiesirrelevanttodailyactivitiesareincludedinnon-operatingrevenue.Forthegovernmentsubsidiesrecognizedtoberefunded,ifthegovernmentsubsidiesareusedtooffsetthebookvalueoftherelatedassetswhentheyareinitiallyrecognized,thebookvalueofassetsshallbeadjusted.Ifthereisdeferredincomeconcerned,thegovernmentsubsidiesshallbeoffsetagainstthebookbalanceofthedeferredincome,andtheexcessshallbeincludedincurrentprofitsandlosses.Inothercases,theyshallbedirectlyincludedincurrentprofitsandlosses.

25.Deferredtaxassets/deferredtaxliabilitiesIncometaxincludescurrentincometaxanddeferredincometax.Theincometaxshallbeincludedincurrentprofitorlossasincometaxexpenses,exceptthatthedeferredincometaxesrelatedtoanadjustmentofgoodwillduetoabusinessmergerorthetransactionsandmattersdirectlyincludedintheowner'sequityareincludedintheowner'sequity.TheCompanyshallrecognizedeferredincometaxwiththebalancesheetliabilitymethodaccordingtothetemporarydifferencesbetweenthebookvalueofassetsandliabilitiesandtheirtaxbasesatthebalancesheetdate.Relevantdeferredincometaxliabilitiesshallberecognizedforeachtaxabletemporarydifferenceunlessthetaxabletemporarydifferencearisesfromthefollowingtransactions:

(1)Theinitialrecognitionofgoodwillortheinitialrecognitionofassetsorliabilitiesincurredinatransactionwiththefollowingfeatures:Thetransactionshouldnotbeabusinessmergeranddoesnotimpactaccountingprofitortaxableincomeatthetimeofthetransaction(exceptforindividualtransactionswithequaltaxabletemporarydifferencesanddeductibletemporarydifferencesresultingfromtheinitialrecognitionofassetsandliabilities);

(2)Fortaxabletemporarydifferencesassociatedwithinvestmentsinsubsidiaries,associates,andjointventures,itcancontrolthetimeofthereversalofthetemporarydifferenceand,likely,thetemporarydifferencewillnotreverseintheforeseeablefuture.Fordeductibletemporarydifferencesaswellasthedeductiblelossesandtaxdeductionsthatcanbecarriedforwardtothenextyear,exceptforthedeductibletemporarydifferencesincurredinfollowingtransactions,theCompanyrecognizesthedeferredincometaxassetstotheextentthatitislikelythatfuturetaxableincomewillbeavailablefordeductingthedeductibletemporarydifferences,deductiblelosses,andtaxdeductions:

(1)Thetransactionshouldnotbeabusinessmergeranddoesnotimpactaccountingprofitortaxableincomeatthetimeofthetransaction(exceptforindividualtransactionswithequaltaxabletemporarydifferencesanddeductibletemporarydifferencesresultingfromtheinitialrecognitionofassetsandliabilities);

(2)Fordeductibletemporarydifferencesassociatedwithinvestmentsinsubsidiaries,associates,andjointventures,ifthefollowingconditionsaresatisfiedatthesametime,correspondingdeferredtaxassetsarerecognized:Thetemporarydifferencewilllikelybereversedintheforeseeablefutureandtaxableincomewilllikelybeavailableinthefuturefordeductingthedeductibletemporarydifferences.Onthebalancesheetdate,deferredtaxassetsanddeferredtaxliabilitiesaremeasuredatthetaxratesthatareexpectedtoapplytotheperiodwhentheassetisrecoveredortheliabilityissettledandreflecttheincometaxeffectofthemethodoftheexpectedrecoveryofassetsandsettlementofliabilityonthebalancesheetdate.Onthebalancesheetdate,theCompanyreviewsthebookvalueofdeferredtaxassets.Ifitislikelythatsufficienttaxableprofitswillnotbeavailableinfutureperiodstodeductthebenefitofthedeferredtaxassets,thebookvalueofthedeferredtaxassetswillbereduced.Anysuchreductioninamountisreversedtotheextentthatitbecomesprobablethatsufficienttaxableincomeswillbeavailable.Onabalancesheetdate,thedeferredincometaxassetsandliabilitiesarepresentedinthenetvalueafteroffsettingwhenthefollowingconditionsaremetatthesametime:

(1)Thetaxpayerhasthelegalrightofincometaxassetsandliabilitiesinthecurrentperiodsettledatthenetamount;

(2)DeferredincometaxassetsanddeferredincometaxliabilitiesarerelatedtotheincometaxesleviedbythesametaxcollectionagencyonthesametaxpayerwithintheCompany.

26.Leases

(1)AccountingtreatmentmethodforleaseasthelesseeOnthecommencementdateoftheleaseterm,theCompanyshallrecognizetheright-of-useassetsandtheleaseliabilitiesforallleases,exceptfortheshort-termleasesandlow-valueassetleasesthataresubjecttosimplifiedtreatment.Leaseliabilitiesshallbeinitiallymeasuredatthepresentvaluecalculatedbytheinterestrateimplicitinleaseaccordingtotheunpaidleasepaymentonthecommencementdateoftheleaseterm.Iftheinterestrateimplicit

inleasecannotbedetermined,theincrementalborrowingrateshallbeusedasthediscountrate.Leasepaymentsincludefixedpaymentsandsubstantiallyfixedpayments;theamountrelatedtoleaseincentive(ifany)shallbededucted;variableleasepaymentsthatdependonanindexorrate;theexercisepriceofapurchaseoption,providedthatthelesseereasonablydeterminesthattheoptionwillbeexercised;paymentsrequiredtoexercisetheleaseterminationoption,providedthattheleasetermreflectsthatthelesseewillexercisetheleaseterminationoption;paymentsexpectedtobemadebasedontheguaranteedresidualvalueprovidedbythelessee.Theinterestexpensesoftheleaseliabilitieswithineachleasetermshallbecalculatedsubsequentlyaccordingtothefixedperiodicrateandincludedincurrentprofitsandlosses.Thevariableleasepaymentthatisnotincludedinthemeasurementofleaseliabilitiesisincludedinthecurrentprofitandlosswhenitactuallyoccurs.Short-termleaseShort-termleasereferstoaleasewithaleasetermofnotmorethan12monthsonthecommencementdateoftheleaseterm,exceptfortheleasecontainingthepurchasingright.TheCompanyincludesthepaymentamountofshort-termleasesintorelevantassetcostsorcurrentprofitsandlossesbythestraight-linemethodateachperiodwithintheleaseterm.Forshort-termleases,theCompanyselectstheabove-simplifiedtreatmentmethodfortheitemsmeetingtheshort-termleaseconditionsinthefollowingassettypesaccordingtothecategoryofleasedassets.Low-valueassetleaseAlow-valueassetleasereferstoaleasewithavaluelowerthanRMB40,000whenanindividualleasedassetisbrandnew.TheCompanyincludesthepaymentamountoflow-valueassetleasesintorelevantassetcostsorcurrentprofitsandlossesbythestraight-linemethodateachperiodwithintheleaseterm.Forlow-valueassetleases,theCompanyselectstheabovesimplifiedtreatmentmethodaccordingtothespecificconditionsofeachlease.LeasechangeIftheleasechangesandmeetsthefollowingconditionsatthesametime,theCompanywilltaketheleasechangeasaseparateleasefortheaccountingtreatment:①Theleasechangeexpandstheleasescopebyincreasingtherighttouseoneormoreleasedassets,and②Theincreasedconsiderationisequivalenttotheamountbyadjustingtheseparatepriceoftheexpandedleasescopeaccordingtothecontract.Iftheleasechangeisnottakenasaseparateleaseforaccountingtreatment,theCompanyshall,ontheeffectivedateoftheleasechange,reallocatetheconsiderationofthechangedcontract,redeterminetheleaseterm,andremeasuretheleaseliabilitiesaccordingtothechangedleasepaymentandthepresentvaluecalculatedbythereviseddiscountrate.

Iftheleasescopeisreducedortheleasetermisshortenedduetotheleasechange,theCompanywillcorrespondinglyreducethebookvalueofright-of-useassetsandincluderelevantprofitsorlossesfrompartialorcompleteterminationoftheleaseincurrentprofitsandlosses.Iftheleaseliabilitiesareremeasuredduetootherleasechanges,theCompanywilladjustthecarryingamountofright-of-useassetsaccordingly.

(2)AccountingtreatmentmethodforleaseasthelessorWhentheCompanyisthelessor,theleasethatsubstantiallytransfersallrisksandrewardsrelatedtotheownershipoftheassetsisrecognizedasafinancelease,andleasesotherthanfinanceleasesarerecognizedasoperatingleases.FinancialleaseInafinancelease,atthecommencementoftheleaseterm,theCompanytakesthenetinvestmentinaleaseastheentryvalueofthefinanceleasereceivables,andthenetinvestmentinaleaseisthesumoftheunguaranteedresidualvalueandthepresentvalueoftheleasereceiptsnotyetreceivedatthecommencementoftheleasetermdiscountedattheinterestrateimplicitinthelease.TheCompany,asthelessor,calculatesandrecognizesinterestincomeineachleasetermatafixedperiodicrate.VariableleasepaymentsobtainedbytheCompanyasthelessorbutnotconsideredinthemeasurementofnetinvestmentinleasesarerecognizedincurrentprofitsandlosseswhenactuallyincurred.ThederecognitionandimpairmentoffinanceleasereceivablesshallbesubjecttoaccountingtreatmentaccordingtotheAccountingStandardsforBusinessEnterprisesNo.22—RecognitionandMeasurementofFinancialInstrumentsandtheAccountingStandardsforBusinessEnterprisesNo.23—TransferofFinancialAssets.OperatingleasingLeaseincomefromoperatingleasesisincludedincurrentprofitsandlossesbytheCompanyasperthestraight-linemethodindifferentstagesovertheleaseterm.Theoccurredinitialdirectcostrelatedtotheoperatingleaseshallbecapitalized,amortizedwithintheleasetermaccordingtothesamebasewiththerecognitionofrentrevenue,andincludedinthecurrentprofitsandlossesbystages.ThevariableleasereceiptsobtainedbytheCompanyrelatedtooperatingleasesandnotchargedtotheleasereceiptsshallbeincludedincurrentprofitsandlosseswhenactuallyincurred.LeasechangeIfthereisachangeintheoperatinglease,theCompanywilltakeitasanewleasefromtheeffectivedateofthechangetocarryoutaccountingtreatment,andtheleasereceiptsreceivedinadvanceorreceivablerelatedtotheleasebeforethechangewillberegardedasthecollectedamountforthenewlease.Ifthefinanceleasechangesandmeetsthefollowingconditions,theCompanywilltakethechangeasaseparateleaseforaccountingtreatment:①Thechangeexpandstheleasescopebyincreasingtherighttouseoneormoreleasedassets;and②Theincreasedconsiderationisequivalenttotheamountbyadjustingtheseparatepriceoftheexpandedleasescopeaccordingtothecontract.

Ifthechangeoffinanceleaseisnotaccountedforasaseparatelease,theCompanyshalldealwiththechangedleasebasedonthefollowingcircumstances:①Ifthechangetakeseffectonthecommencementdateoftheleaseandtheleaseisclassifiedasanoperatinglease,theCompanyshalltakeitasanewleasefortheaccountingtreatmentfromtheeffectivedateofleasechangeandtakethenetleaseinvestmentmadebeforetheeffectivedateoftheleasechangeasthebookvalueoftheleasedasset;②Ifthechangetakeseffectonthecommencementdateoftheleaseandtheleaseisclassifiedasafinancelease,theCompanyshallcarryoutaccountingtreatmentaccordingtotheregulationsonmodifyingorrenegotiatingcontractsdescribedinAccountingStandardsforEnterprisesNo.22—RecognitionandMeasurementofFinancialInstruments.

27.Othersignificantaccountingpoliciesandaccountingestimates

TheCompanycontinuouslyevaluatesthesignificantaccountingestimatesandkeyassumptionsadoptedbasedonhistoricalexperienceandotherfactors,includingreasonableexpectationsforfutureevents.Significantaccountingestimatesandcriticalassumptionsthatmayleadtoamajoradjustmentofthebookvalueofassetsandliabilitiesinthenextaccountingyeararelistedasfollows:

ClassificationoffinancialassetsSignificantjudgmentsinvolvedindeterminingtheclassificationoffinancialassetsoftheCompanyincludetheanalysisofbusinessmodelsandcontractcashflowcharacteristics.TheCompanydeterminesthebusinessmodelofmanagingfinancialassetsattheleveloffinancialassetportfolios,consideringthewayofevaluatingandreportingfinancialassetperformancetokeyexecutives,therisksaffectingthefinancialassetperformanceandtheirmanagementmethods,andthewayfortherelevantbusinessmanagementpersonneltoobtaintheremuneration.Whenassessingwhetherthecontractcashflowoffinancialassetsisconsistentwiththebasicloanarrangement,theCompanyhasthefollowingmainjudgments:Whethertheprincipalmaychangeinthetimedistributionoramountinthedurationduetoprepaymentandotherreasons;whethertheinterestincludesonlythetimevalueofmoney,creditrisks,otherbasicborrowingrisks,andconsiderationwithcostsandprofits.Forexample,whethertheamountpaidinadvanceonlyreflectstheunpaidprincipalandtheinterestbasedontheunpaidprincipal,andthereasonablecompensationpaidduetotheearlyterminationofthecontract.MeasurementofexpectedcreditlossofaccountsreceivableTheCompanycalculatestheexpectedcreditlossofaccountsreceivablethroughthedefaultriskexposureandtheexpectedcreditlossrateofaccountsreceivableanddeterminestheexpectedcreditlossratebasedondefaultprobabilityandthelossgivendefault.Indeterminingtheexpectedcreditlossrate,theCompanyusestheinternalhistoricalcreditlossexperienceandotherdataandadjuststhehistoricaldataaccordingtothecurrentsituationandforward-lookinginformation.Whenconsideringforward-lookinginformation,theindicatorsusedbytheCompanyincluderisksofeconomicdownturnsaswellaschangesintheexternalmarketenvironment,technologicalenvironment,andcustomerconditions.TheCompanyregularlymonitorsandreviewstheassumptionsrelatedtothecalculationoftheexpectedcreditloss.Deferredtaxassets

Totheextentthattherewillprobablybesufficienttaxableprofitstooffsetthelosses,deferredincometaxassetsshallberecognizedbasedonallunusedtaxlosses.Thisrequiresthemanagementtousealargenumberofjudgmentstoestimatethetimeandamountoffuturetaxableprofitsanddeterminetheamountofdeferredincometaxassetsthatshouldberecognizedincombinationwithtaxplanningstrategies.DeterminationofthefairvalueofunlistedequityinvestmentThefairvalueofunlistedequityinvestmentsistheestimatedfuturecashflowsdiscountedusingcurrentdiscountratesforprojectswithsimilartermsandriskcharacteristics.ThisvaluationinvolvesuncertaintybecauseitrequirestheCompanytoestimateexpectedfuturecashflowsanddiscountrates.Underlimitedcircumstances,iftheinformationfordeterminingthefairvalueisinsufficientortherangeofpossibleestimatesoffairvalueiswide,andthecostrepresentsthebestestimateforthefairvaluewithinthisrange,suchcostcouldrepresentitsappropriateestimateforthefairvaluewithinthisdistributionrange.

28.Changesinsignificantaccountingpoliciesandaccountingestimates

(1)Changesinsignificantaccountingpolicies

□Applicable?Notapplicable

(2)Changesinsignificantaccountingestimates

□Applicable?Notapplicable

(3)Conditionsofthefirstimplementationofnewaccountingstandardsfrom2024toadjusttherelevantitemsinfinancialstatementsatthebeginningofthefirstimplementationyear

□Applicable?Notapplicable

VI.Taxes

1.Maintaxesandtaxrates

Taxcategory	Taxbasis	Taxrate
Value-addedtax	Taxablevalue-addedamount(Taxpayableiscalculatedusingthetaxablesalesamountmultipliedbytheapplicabletaxratelessdeductibleinputtaxofthecurrentperiod)	13%,9%,5%,6%,3%
Urbanmaintenanceandconstructiontax	Actuallypaidturnovertax	7%
Corporateincometax	Taxableincome	25%,20%
Propertytax	Fortaxationaccordingtoprice,thetaxespayableshallbecalculatedbasedon1.2%oftheremainingpriceafterdeducting30%oftheoriginalvalueofhouseproperties;fortaxationaccordingtolease,thetaxespayableshallbecalculatedbasedon12%oftherentrevenue.	1.2%,12%

Educationalsurcharge	Actuallypaidturnovertax	3%
Localeducationalsurcharges	Actuallypaidturnovertax	2%

Iftherearetaxpayerswithdifferententerpriseincometaxrates,thedisclosureshallbeasfollows.

Nameoftaxableentity	Incometaxrate
ShenzhenTellusChuangyingTechnologyCo.,Ltd.	20
ShenzhenBao'anShiquanIndustryCo.,Ltd.	20
ShenzhenSDGTellusRealEstateCo.,Ltd.	20
ShenzhenAutomobileIndustrySupplyandMarketingCompany	20
ShenzhenXinyongtongMotorVehicleInspectionEquipmentCo.,Ltd.	20
ShanghaiFanyueDiamondCo.,Ltd.	20
Othertaxableentitiesotherthantheabove	25

2.Taxpreference

①CorporateincometaxAccordingtotheAnnouncementonFurtherImplementingPreferentialIncomeTaxPoliciesforSmallandMicroEnterprises(Announcement[2022]No.13oftheMinistryofFinanceandtheStateTaxationAdministration),fromJanuary1,2022toDecember31,2024,forsmallmicro-profitenterprises,theportionoftheirannualtaxableincomeexceedingRMB1millionbutnotexceedingRMB3millionshallbecalculatedatareducedrateof25%intheirtaxableincome,andtheyshallpayenterpriseincometaxatarateof20%.AccordingtotheAnnouncementonImplementingPreferentialIncomeTaxPoliciesforSmallandMicroEnterprisesandIndividualBusinesses(AnnouncementNo.6[2023]oftheMinistryofFinanceandtheStateAdministrationofTaxation),fromJanuary1,2023toDecember31,2024,theportionoftheirannualtaxableincomebutnotexceedingRMB1millionshallbecalculatedatareducedrateof25%intheirtaxableincome,andtheyshallpayenterpriseincometaxatarateof20%.ThesubsidiariesoftheCompany,includingTellusChuangying,Bao'anShiquan,TellusRealEstateCompany,AutomobileSupplyandMarketingCompany,ShanghaiFanyue,andXinyongtongTesting,enjoytheabovetaxpreferences.

②Value-addedtaxAccordingtotheNoticeoftheStateAdministrationofTaxationonAdjustingtheRelevantTaxPoliciesofDiamondsandShanghaiDiamondExchange(CS[2006]No.65),taxpayersareexemptedfromimportVATforroughdiamondssoldthroughShanghaiDiamondExchangetothedomesticmarket;forfinisheddiamondssoldbytaxpayersthroughShanghaiDiamondExchangetothedomesticmarket,thepartwithanactualimportVATburdenexceeding4%shallberefundeduponcollectionbythecustoms.Inthedomesticlink,taxpayersshalldeducttheinputtaxbasedontheVATamountindicatedonthetaxpaymentreceiptissuedbythecustoms.AftertaxpayersfollowthepolicyofVATexemptionandrefund-upon-collectionfordiamondssoldtothedomesticmarketthroughtheShanghaiDiamondExchange,diamondssoldtothedomesticmarketwillbemanagedbythecustomspercurrentregulationswhentheyleavetheShanghaiDiamondExchange.ShanghaiFanyueDiamondCo.,Ltd.,theCompany'ssubsidiary,isamemberoftheShanghaiDiamondExchangeandenjoystheabovetaxpreferenceswhenimportingfinisheddiamondsthroughtheShanghaiDiamondExchange.

VII.NotestoConsolidatedFinancialStatements

1.Cashatbankandonhand

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Cashonhand	324.59	17,215.98
Depositinbank	119,615,641.97	120,961,253.61
Othermonetaryfunds	108,989,255.73	99,362,492.05
Total	228,605,222.29	220,340,961.64

Thedetailsofrestrictedcashatbankandonhandareasfollows:

Item	Period-endbalance	Balanceattheendofthepreviousyear
Goldleasingsecuritydepositsandinterests	40,477,138.89	51,328,583.35
Futuresandoptionsaccountmargin	4,104,642.60	8,188,990.60
Amountunderjudicialcontrol		600,000.00
Marginpayablesecuritydepositsandinterests	28,123,726.04
Total	72,705,507.53	60,117,573.95

2.Tradingfinancialassets

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Financialassetsatfairvaluethroughprofitorloss	377,514,483.03	206,294,931.94
Including:
Structureddepositsandfinanceproducts	302,715,467.76	131,495,916.67
Equityinstrumentinvestment	74,799,015.27	74,799,015.27
Including:
Total	377,514,483.03	206,294,931.94

3.Derivativefinancialassets

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Hedginginstruments	0.00	298,320.00
Total		298,320.00

4.Accountsreceivable

(1)Disclosurebyaccountreceivableage

Unit:RMB

Accountreceivableage	Period-endbookbalance	Period-beginningbookbalance
Within1year(inclusive)	198,642,445.18	100,107,755.14
1-2years	555,132.97	555,132.97
Over3years	48,749,943.16	48,749,943.16
Over5years	48,749,943.16	48,749,943.16
Total	247,947,521.31	149,412,831.27

(2)Disclosurebybaddebtaccrualmethod

Unit:RMB

Category	Period-endbalance					Period-beginningbalance
	Bookbalance		Bad-debtprovision		Bookvalue	Bookbalance		Bad-debtprovision		Bookvalue
	Amount	Proportion	Amount	Provisionproportion		Amount	Proportion	Amount	Provisionproportion
Accountsreceivablewithprovisionforbaddebtsonasinglebasis	48,746,583.16	19.66%	48,746,583.16	100.00%		48,746,583.16	32.63%	48,746,583.16	100.00%
Including:
Accountsreceivableforwhichprovisionforbaddebtsismadebyportfolio	199,200,938.15	80.34%	1,781,705.61	0.89%	197,419,232.54	100,666,248.11	67.37%	1,030,496.59	1.02%	99,635,751.52
Including:
Leaseandotherbusinessportfolio	39,575,689.70	15.96%	436,870.51	1.10%	39,138,819.19	41,303,639.85	27.64%	436,870.51	1.06%	40,866,769.34
Jewelrysalesbusinessportfolio	159,625,248.45	64.38%	1,344,835.10	0.84%	158,280,413.35	59,362,608.26	39.73%	593,626.08	1.00%	58,768,982.18
Total	247,947,521.31	100.00%	50,528,288.77	20.38%	197,419,232.54	149,412,831.27	100.00%	49,777,079.75	33.32%	99,635,751.52

Categorynameofbaddebtprovisionmadeonanindividualbasis:

Unit:RMB

Name	Period-beginningbalance		Period-endbalance
	Bookbalance	Bad-debtprovision	Bookbalance	Bad-debtprovision	Provisionproportion	Reasonsforprovision
ShenzhenJinluIndustry&TradeCo.,Ltd.	9,846,607.00	9,846,607.00	9,846,607.00	9,846,607.00	100.00%	Longaccountreceivableage,andexpectedtobeunrecoverable
GuangdongZhanjiangSamsungAutomobileCo.,Ltd.	4,060,329.44	4,060,329.44	4,060,329.44	4,060,329.44	100.00%	Longaccountreceivableage,andexpectedtobeunrecoverable
WangChanglong	2,370,760.40	2,370,760.40	2,370,760.40	2,370,760.40	100.00%	Longaccountreceivableage,andexpectedtobeunrecoverable
HuizhouJiandachengRoadandBridgeEngineeringCo.,Ltd.	2,021,657.70	2,021,657.70	2,021,657.70	2,021,657.70	100.00%	Longaccountreceivableage,andexpectedtobeunrecoverable
GuangdongGWHoldingsGroupCo.,Ltd.	1,862,000.00	1,862,000.00	1,862,000.00	1,862,000.00	100.00%	Longaccountreceivableage,andexpectedtobeunrecoverable
JianglingMotorsFactory	1,191,059.98	1,191,059.98	1,191,059.98	1,191,059.98	100.00%	Longaccountreceivableage,andexpectedtobeunrecoverable
YangjiangAutomobileTradingCo.,Ltd.	1,150,000.00	1,150,000.00	1,150,000.00	1,150,000.00	100.00%	Longaccountreceivableage,andexpectedtobeunrecoverable
Others	26,244,168.64	26,244,168.64	26,244,168.64	26,244,168.64	100.00%	Longaccountreceivableage,andexpectedtobeunrecoverable
Total	48,746,583.16	48,746,583.16	48,746,583.16	48,746,583.16

Categorynameofbaddebtprovisionmadeonaportfoliobasis:LeasingandotherbusinessportfolioUnit:RMB

Name	Period-endbalance
	Bookbalance	Bad-debtprovision	Provisionproportion
Within1year	39,017,196.73	407,433.86	1.04%
1-2years	555,132.97	27,756.65	5.00%
2-3years
Over3years	3,360.00	1,680.00	50.00%

Total

39,575,689.70

436,870.51

Categorynameofbaddebtprovisionmadeonaportfoliobasis:JewelrysalesbusinessportfolioUnit:RMB

Name	Period-endbalance
	Bookbalance	Bad-debtprovision	Provisionproportion
Within1year(inclusive)	159,625,248.45	1,344,835.10	0.84%
Total	159,625,248.45	1,344,835.10

Whethertoaccruebaddebtprovisionofaccountsreceivableaccordingtoexpectedcreditloss:

?Applicable□NotapplicableUnit:RMB

Bad-debtprovision	StageI	StageII	StageIII	Total
	Expectedcreditlossesforthenext12months	Expectedcreditlossthroughouttheduration(nocreditimpairmentoccurs)	Expectedcreditlossthroughouttheduration(creditimpairmenthasoccurred)
BalanceonJanuary1,2024	1,030,496.59		48,746,583.16	49,777,079.75
BalanceonJanuary1,2024inthecurrentperiod
Provisioninthecurrentperiod	1,297,727.90			1,297,727.90
Reversalinthecurrentperiod	546,518.88			546,518.88
BalanceasofJune30,2024	1,781,705.61		48,746,583.16	50,528,288.77

(3)Baddebtprovisionprovided,recovered,orreversedinthecurrentperiod

Baddebtprovisioninthereportingperiod:

Unit:RMB

Category	Period-beginningbalance	Amountofchangeduringthecurrentperiod				Period-endbalance
		Provision	Accountsrecoveredortransferredback	Write-off	Others
Provisionforbaddebtsmadeonanindividualbasis	48,746,583.16					48,746,583.16
Provisionforbaddebtsmadeonaportfoliobasis	1,030,496.59	1,297,727.90	546,518.88			1,781,705.61
Total	49,777,079.75	1,297,727.90	546,518.88	0.00	0.00	50,528,288.77

(4)Accountsreceivableandcontractualassetswithtopfiveendingbalancecollectedaspertheborrowers

Unit:RMB

Companyname	Period-endbalanceofaccountsreceivable	Period-endbalanceofcontractassets	Period-endbalanceofaccountsreceivableandcontractassets	Proportionintotalendingbalanceofaccountsreceivableandcontractualassets	Period-endbalanceofbaddebtproportionofaccountsreceivableandimpairmentprovisionofcontractualassets
GuojinGoldCo.,Ltd.	44,144,845.00		44,144,845.00	17.80%	441,448.45
ShenzhenYongjitaiJewelryCo.,Ltd.	22,367,000.00		22,367,000.00	9.02%	223,670.00
ShenzhenYuepengjinE-commerceCo.,Ltd.	19,649,000.00		19,649,000.00	7.92%	196,490.00
Xieruilin(Guangzhou)JewelryCo.,Ltd.	16,042,263.46		16,042,263.46	6.47%	160,422.63
ShenzhenXingguangdaJewelryIndustrialCo.,Ltd.	14,992,020.00		14,992,020.00	6.05%	149,920.20
Total	117,195,128.46		117,195,128.46	47.26%	1,171,951.28

5.Otherreceivables

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Dividendsreceivable	1,305,581.86	1,305,581.86
Otherreceivables	25,082,028.01	11,077,935.06
Total	26,387,609.87	12,383,516.92

(1)Dividendsreceivable

1)CategoryofdividendsreceivableUnit:RMB

Project(ortheinvestee)	Period-endbalance	Period-beginningbalance
ChinaPufaMachineryIndustryCo.,Ltd.	1,305,581.86	1,305,581.86
Total	1,305,581.86	1,305,581.86

2)Dividendsreceivableofimportantaccountreceivableageofover1yearUnit:RMB

Project(ortheinvestee)

Period-endbalance

Accountreceivableage

Reasonfornorecovery

Whetherimpairmenthasoccurredandthe

				basisfordeterminingimpairment
ChinaPufaMachineryIndustryCo.,Ltd.	1,305,581.86	1-2years	Notpaidyet	ThefinancialandoperatingconditionsoftheCompanyarenormal,andthedividendsreceivablearenotimpaired.
Total	1,305,581.86

3)Classificationanddisclosurethroughthemethodforrecognizingbaddebt

□Applicable?Notapplicable

(2)Otherreceivables

1)ClassificationofotherreceivablesbynatureUnit:RMB

Natureofpayment	Period-endbookbalance	Period-beginningbookbalance
Temporarypaymentsreceivable	61,647,633.85	58,543,570.60
Depositsandsecuritydeposits	14,098,889.56	3,092,523.97
Total	75,746,523.41	61,636,094.57

(2)DisclosurebyaccountreceivableageUnit:RMB

Accountreceivableage	Period-endbookbalance	Period-beginningbookbalance
Within1year(inclusive)	20,211,338.45	6,100,909.61
1-2years	982,244.61	982,244.61
2-3years	192,615.11	192,615.11
Over3years	54,360,325.24	54,360,325.24
3-4years	249,895.55	249,895.55
Over5years	54,110,429.69	54,110,429.69
Total	75,746,523.41	61,636,094.57

3)Classificationanddisclosurethroughthemethodforrecognizingbaddebt?Applicable□NotapplicableUnit:RMB

Category	Period-endbalance					Period-beginningbalance
	Bookbalance		Bad-debtprovision		Bookvalue	Bookbalance		Bad-debtprovision		Bookvalue
	Amount	Proportion	Amount	Provisionproportion		Amount	Proportion	Amount	Provisionproportion
Provisionforbad	52,224,555.56	68.95%	50,017,691.31	95.77%	2,206,864.25	52,224,555.56	84.73%	50,017,691.31	95.77%	2,206,864.25

debtsmadeonanindividualbasis
Including:
Provisionforbaddebtsmadeonaportfoliobasis	23,521,967.85	31.05%	646,804.09	2.75%	22,875,163.76	9,411,539.01	15.27%	540,468.20	5.74%	8,871,070.81
Including:
Accountreceivableageportfolio	9,423,078.29	12.44%	433,367.62	4.60%	8,989,710.67	6,319,015.04	10.25%	433,367.62	6.86%	5,885,647.42
Portfolioofdepositandsecuritydepositreceivable	14,098,889.56	18.61%	213,436.47	1.51%	13,885,453.09	3,092,523.97	5.02%	107,100.58	3.46%	2,985,423.39
Total	75,746,523.41	100.00%	50,664,495.40	66.89%	25,082,028.01	61,636,094.57	100.00%	50,558,159.51	82.03%	11,077,935.06

Categorynameofbaddebtprovisionmadeonanindividualbasis:

Unit:RMB

Name	Period-beginningbalance		Period-endbalance
	Bookbalance	Bad-debtprovision	Bookbalance	Bad-debtprovision	Provisionproportion	Reasonsforprovision
Provisionforbaddebtsmadeonanindividualbasis	52,224,555.56	50,017,691.31	52,224,555.56	50,017,691.31	95.77%	Longaccountreceivableage,andexpectedtobeunrecoverable
Total	52,224,555.56	50,017,691.31	52,224,555.56	50,017,691.31

Categorynameofbaddebtprovisionmadeonaportfoliobasis:

Unit:RMB

Name	Period-endbalance
	Bookbalance	Bad-debtprovision	Provisionproportion
Accountreceivableageportfolio	9,423,078.29	433,367.62	4.60%
Portfolioofdepositandsecuritydepositreceivable	14,098,889.56	213,436.47	1.51%
Total	23,521,967.85	646,804.09

Accruebaddebtprovisionofaccountsreceivableaccordingtoexpectedcreditloss:

Unit:RMB

Bad-debtprovision	StageI	StageII	StageIII	Total
	Expectedcreditlosses	Expectedcreditlossthroughouttheduration	Expectedcreditlossthroughouttheduration

	forthenext12months	(nocreditimpairmentoccurs)	(creditimpairmenthasoccurred)
BalanceonJanuary1,2024	540,468.20	0.00	50,017,691.31	50,558,159.51
BalanceonJanuary1,2024inthecurrentperiod
Provisioninthecurrentperiod	135,034.32	0.00	0.00	135,034.32
Reversalinthecurrentperiod	28,698.43	0.00	0.00	28,698.43
BalanceasofJune30,2024	646,804.09	0.00	50,017,691.31	50,664,495.40

Changesinbookbalancewithsignificantamountchangedoflossprovisioninthereportingperiod

□Applicable?Notapplicable

4)Baddebtprovisionprovided,recovered,orreversedinthecurrentperiodBaddebtprovisioninthereportingperiod:

Unit:RMB

Category	Period-beginningbalance	Amountofchangeduringthecurrentperiod				Period-endbalance
		Provision	Accountsrecoveredortransferredback	Write-offorverification	Others
Bad-debtprovision	50,558,159.51	135,034.32	28,698.43		0.00	50,664,495.40
Total	50,558,159.51	135,034.32	28,698.43	0.00	0.00	50,664,495.40

5)Otherreceivablesofthetopfiveperiod-endbalancesbytheowingpartyUnit:RMB

Companyname	Natureofpayment	Period-endbalance	Accountreceivableage	Proportiontoendingbalanceofotherreceivables	Period-endbalanceofprovisionforbaddebts
ShanghaiGoldCoinInvestmentCo.,Ltd.	Securitydeposits	11,243,890.60	Within1year	14.84%	112,438.91
ChinaAutomobileSouthChinaAutomobileSalesCo.,Ltd.	Intercoursefunds	9,832,956.37	Over3years	12.98%	9,832,956.37
ShenzhenNanfangIndustryandTradeIndustrialCo.,Ltd.	Intercoursefunds	7,359,060.75	Over3years	9.72%	7,359,060.75
ShenzhenZhonghao(Group)Co.,Ltd.	Intercoursefunds	5,000,000.00	Over3years	6.60%	5,000,000.00
ShenzhenKaifeng	Intercoursefunds	4,413,728.50	Over3years	5.83%	2,206,864.25

SpecialAutomobileIndustryCo.,Ltd.
Total		37,849,636.22		49.97%	24,511,320.28

6.Prepaymentitems

(1)Prepaymentitemslistedbyaccountreceivableage

Unit:RMB

Accountreceivableage	Period-endbalance		Period-beginningbalance
	Amount	Proportion	Amount	Proportion
Within1year	1,265,252.78	95.58%	38,395,924.17	99.85%
1-2years	45,984.79	3.47%	45,984.79	0.12%
2-3years		0.00%		0.00%
Over3years	12,525.94	0.95%	12,525.94	0.03%
Total	1,323,763.51		38,454,434.90

(2)Prepaymentitemswithtopfiveperiod-endbalancecollectedaspertheobjectofprepayment

Companyname	BalanceasofJune30,2024	Proportioninthetotalperiod-endbalanceofprepayment(%)
ISSTechInformationTechnologyCo.,Ltd.	593,247.17	44.82%
ShenzhenGasCorporationLtd.	177,963.50	13.44%
ShenzhenJurongfengTechnologyCo.,Ltd.	175,689.32	13.27%
HuaqiangbeiBranch,ShenzhenShengshiKaiyuanAutomobileSalesCo.,Ltd.	169,800.00	12.83%
ShenzhenYouyuConstructionLaborServiceCo.,Ltd.	100,000.00	7.55%
Total	1,216,699.99	91.91%

7.Inventories

WhethertheCompanyneedstocomplywiththedisclosurerequirementsfortherealestateindustryNo

(1)Inventoryclassification

Unit:RMB

Item	Period-endbalance			Period-beginningbalance
	Bookbalance	Provisionfordeclineinthevalueofinventoriesorimpairmentprovisionsofcontractperformance	Bookvalue	Bookbalance	Provisionfordeclineinthevalueofinventoriesorimpairmentprovisionsofcontractperformance	Bookvalue

		cost			cost
Rawmaterials	35,581,620.46	15,028,496.75	20,553,123.71	104,324,596.41	15,028,496.75	89,296,099.66
Goodsinstocks	8,789,356.39	8,789,356.39		8,789,356.39	8,789,356.39
Hedgeditems	68,886,072.56		68,886,072.56	85,802,395.07		85,802,395.07
Consignedprocessingmaterials	703,719.27		703,719.27	327,656.05		327,656.05
Goodssoldonacommissionbasis	1,994,622.56		1,994,622.56	2,999,683.10		2,999,683.10
Total	115,955,391.24	23,817,853.14	92,137,538.10	202,243,687.02	23,817,853.14	178,425,833.88

TheCompanyshallabidebythedisclosurerequirementsfor"jewelry-relatedbusiness"intheGuidelinesofShenzhenStockExchangeforSelf-RegulatorySupervisionofListedCompaniesNo.3—IndustryInformationDisclosure.

(2)Provisionfordeclineinthevalueofinventories/contractperformancecostimpairmentUnit:RMB

Item	Period-beginningbalance	Amountincreaseinthecurrentperiod		Decreaseinthecurrentperiod		Period-endbalance
		Provision	Others	Reversalorwrite-off	Others
Rawmaterials	15,028,496.75					15,028,496.75
Goodsinstocks	8,789,356.39					8,789,356.39
Total	23,817,853.14					23,817,853.14

8.Non-currentassetsduewithinoneyear

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Otherdebtinvestmentsduewithinoneyear	25,510,300.00	55,206,250.00
Total	25,510,300.00	55,206,250.00

(1)Creditors'investmentduewithinoneyear

□Applicable?Notapplicable

(2)Otherdebtinvestmentsduewithinoneyear?Applicable□Notapplicable

1)OtherdebtinvestmentsduewithinoneyearUnit:RMB

Item

Period-beginningbalance

Accruedinterest

Changesinfairvalueinthecurrentperiod

Period-endbalance

Costs

Accumulatedchangesinfairvalue

Accumulatedimpairmentprovisionrecognized

Remarks

							inothercomprehensiveincome
Certificatesofdepositandinterestsduewithinoneyear	55,206,250.00		578,950.00	25,510,300.00	25,000,000.00	510,300.00
Total	55,206,250.00		578,950.00	25,510,300.00	25,000,000.00	510,300.00

9.Othercurrentassets

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Inputtaxtobededucted	26,878,080.49	27,618,761.58
Taxespre-paid	263,431.62	1,423,927.12
Certificatesofdepositduewithinoneyear	3,252,918.08	75,791,108.89
Total	30,394,430.19	104,833,797.59

10.Otherdebtinvestments

(1)InformationonotherdebtinvestmentsUnit:RMB

Item	Period-beginningbalance	Accruedinterest	Interestadjustment	Changesinfairvalueinthecurrentperiod	Period-endbalance	Costs	Accumulatedchangesinfairvalue	Accumulatedimpairmentprovisionrecognizedinothercomprehensiveincome	Remarks
Transferablelarge-sumcertificateofdeposit	67,627,948.60			1,706,900.00	105,986,078.92	104,141,678.92	1,844,400.00
Total	67,627,948.60			1,706,900.00	105,986,078.92	104,141,678.92	1,844,400.00

ChangesinprovisionforimpairmentofotherdebtinvestmentsinthecurrentperiodUnit:RMB

Item	Period-beginningbalance	Increaseinthecurrentperiod	Decreaseinthecurrentperiod	Period-endbalance
Transferablelarge-sumcertificateofdeposit	67,627,948.60	63,868,430.32	25,510,300.00	105,986,078.92
Total	67,627,948.60	63,868,430.32	25,510,300.00	105,986,078.92

11.OtherequityinstrumentinvestmentsUnit:RMB

Projectname	Period-beginningbalance	Gainsincludedinothercomprehensiveincomeinthecurrentperiod	Lossesincludedinothercomprehensiveincomeinthecurrentperiod	Gainsaccumulatedintoothercomprehensiveincomeattheendofthecurrentperiod	Lossesaccumulatedintoothercomprehensiveincomeattheendofthecurrentperiod	Dividendincomerecognizedinthecurrentperiod	Period-endbalance	Reasonsforbeingmeasuredatdesignatedfairvaluewiththeirchangesincludedinothercomprehensiveincome
Investmentinunlistedequityinstruments	383,317.67						383,317.67
Total	383,317.67						383,317.67

12.Long-termreceivables

(1)Long-termreceivablesUnit:RMB

Item	Period-endbalance			Period-beginningbalance			Discountraterange
	Bookbalance	Bad-debtprovision	Bookvalue	Bookbalance	Bad-debtprovision	Bookvalue
Transactionswithrelatedparties	6,146,228.91	6,146,228.91		6,146,228.91	6,146,228.91
Total	6,146,228.91	6,146,228.91		6,146,228.91	6,146,228.91

(2)Disclosurebybaddebtaccrualmethod

Unit:RMB

Category	Period-endbalance					Period-beginningbalance
	Bookbalance		Bad-debtprovision		Bookvalue	Bookbalance		Bad-debtprovision		Bookvalue
	Amount	Proportion	Amount	Provisionproportion		Amount	Proportion	Amount	Provisionproportion
Provisionforbaddebtsmadeonanindividualbasis	6,146,228.91	100.00%	6,146,228.91	100.00%		6,146,228.91	100.00%	6,146,228.91	100.00%

Including:
Including:
Total	6,146,228.91	100.00%	6,146,228.91	100.00%		6,146,228.91	100.00%	6,146,228.91	100.00%

(3)Baddebtprovisionprovided,recovered,orreversedinthecurrentperiod

Unit:RMB

Category	Period-beginningbalance	Amountofchangeduringthecurrentperiod				Period-endbalance
		Provision	Accountsrecoveredortransferredback	Write-offorverification	Others
Bad-debtprovision	6,146,228.91					6,146,228.91
Total	6,146,228.91					6,146,228.91

13.Long-termequityinvestments

Unit:RMB

Investee

Period-beginningbalance(bookvalue)

Period-beginningbalanceofimpairmentprovision

Changesinthecurrentperiod

Period-endbalance(bookvalue)

Period-endbalanceofimpairmentprovision

Additionalinvestment

Reducedinvestment

Investmentprofitorlossrecognizedthroughtheequitymethod

Adjustmenttoothercomprehensiveincome

Changesinotherequity

Cashdividendorprofitdeclaredtobedistributed

Provisionforimpairment

Others

I.Jointventures

ShenzhenTellus-GmondInvestmentCo.,Ltd.

49,250,845.06

7,279,833.26

15,000,000.00

41,530,678.32

ShenzhenTelixingInvestmentCo.,Ltd.

13,302,311.60

156,037.06

13,458,348.66

Subtotal

62,553,156.66

7,435,870.32

15,000,000.00

54,989,026.98

II.Associates
ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.	13,958,330.91		12,443,247.08		26,401,577.99
ShenzhenXinyongtongOilPumpandEnvironmentalProtectionCo.,Ltd.
ShenzhenXinyongtongConsultingCo.,Ltd.
ShenzhenTellusAutomobileServiceChainCo.,Ltd.
ShenzhenXinyongtongAutomobileServiceCo.,Ltd.
ShenzhenYongtongXindaTestin

gEquipmentCo.,Ltd.
HunanChangyangIndustrialCo.,Ltd.		1,810,540.70
ShenzhenJiechengElectronicsCo.,Ltd.		3,225,000.00
ShenzhenXiandaoNewMaterialsCo.,Ltd.		4,751,621.62
ChinaAutomotiveIndustryShenzhenTradingCo.,Ltd.		400,000.00
ShenzhenUniversalStandardPartsCo.,Ltd.		500,000.00
ShenzhenChinaAutomobileSouthChinaAutomobileSalesCo.,Ltd.		2,250,000.00

ShenzhenBailiyuanPowerSupplyCo.,Ltd.								1,320,000.00
ShenzhenYiminAutoTradingCo.,Ltd.								200,001.10
ShenzhenTorchSparkPlugIndustryCo.,Ltd.			632,636.00		632,636.00			17,849.20
ShenzhenHanliHighTechCeramicsCo.,Ltd.								1,956,000.00
ShenzhenNanfangAutomobileRepairCenter								6,700,000.00
Subtotal	13,958,330.91		13,075,883.08		632,636.00		26,401,577.99	23,131,012.62
Total	76,511,487.57		20,511,753.40		15,632,636.00		81,390,604.97	23,131,012.62

Whethertherecoverableamountisdeterminedaccordingtothenetamountwithfairvaluedeductingdisposalexpenses?

□Applicable?NotapplicableWhethertherecoverableamountisdeterminedaccordingtothepresentvalueoftheexpectedfuturecashflow?

□Applicable?Notapplicable

14.Investmentproperties

(1)Investmentpropertiesmeasuredatcost?Applicable□NotapplicableUnit:RMB

Item	Buildingsandstructures	Landuseright	Constructioninprogress	Total
I.Originalbookvalue
1.Period-beginningbalance	1,104,591,317.70	95,667,082.86		1,200,258,400.56
2.Amountincreaseinthecurrentyear
(1)Outsourcing
(2)Transferfrominventory/fixedassets/constructioninprogress
(3)Increasefrombusinessmerger

3.Amountdecreaseinthecurrentperiod

3.Amountdecreaseinthecurrentperiod

(1)Disposal

(2)Othertransfer-out

4.Period-endbalance

4.Period-endbalance	1,104,591,317.70	95,667,082.86	0.00	1,200,258,400.56
II.Accumulateddepreciationandaccumulatedamortization
1.Period-beginningbalance	185,791,265.90	6,329,792.86		192,121,058.76
2.Amountincreaseinthecurrentyear	14,894,477.21	1,151,581.06		16,046,058.27
(1)Provisionoramortization	14,894,477.21	1,151,581.06		16,046,058.27

3.Amountdecreaseinthecurrentperiod

3.Amountdecreaseinthecurrentperiod

(1)Disposal

(2)Other

transfer-out

4.Period-endbalance

4.Period-endbalance	200,685,743.11	7,481,373.92		208,167,117.03
III.Provisionforimpairment
1.Period-beginningbalance
2.Amountincreaseinthecurrentyear
(1)Provision

3.Amountdecreaseinthecurrentperiod

3.Amountdecreaseinthecurrentperiod

(1)Disposal

(2)Othertransfer-out

4.Period-endbalance

4.Period-endbalance
IV.Bookvalue
1.Period-endbookvalue	903,905,574.59	88,185,708.94	0.00	992,091,283.53
2.Period-beginningbookvalue	918,800,051.80	89,337,290.00	0.00	1,008,137,341.80

Whethertherecoverableamountisdeterminedaccordingtothenetamountwithfairvaluedeductingdisposalexpenses?

□Applicable?NotapplicableWhethertherecoverableamountisdeterminedaccordingtothepresentvalueoftheexpectedfuturecashflow?

□Applicable?Notapplicable

(2)Investmentpropertiesmeasuredatfairvalue

□Applicable?Notapplicable

(3)InvestmentpropertieswhosepropertycertificatesarenotobtainedUnit:RMB

Item	Bookvalue	Reasonsforfailuretoobtainthepropertycertificate
CNNCofficebuilding	3,838,800.75	Thepropertyownershipcertificatehasnotbeenhandledduetohistoricalreasons.
Building12,Sungang	9,208.73	Thepropertyownershipcertificatehasnotbeenhandledduetohistoricalreasons.
ShopsinBuilding12,Sungang	19,225.47	Thepropertyownershipcertificatehasnotbeenhandledduetohistoricalreasons.

Total

3,867,234.95

15.Fixedassets

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Fixedassets	74,890,303.79	78,935,843.49
Total	74,890,303.79	78,935,843.49

(1)Fixedassets

Unit:RMB

Item	Premisesandbuildings	Machineryandequipment	Transportationequipment	Electronicequipment	Fixedassetdecoration	Officesandotherequipment	Total
I.Originalbookvalue:
1.Period-beginningbalance	218,581,348.20	16,663,683.34	2,086,527.73	7,418,557.34	1,141,459.06	8,175,648.79	254,067,224.46
2.Amountincreaseinthecurrentyear				113,771.82		6,798.66	120,570.48
(1)Purchase				113,771.82		6,798.66	120,570.48
(2)Transferfromconstructioninprogress
(3)Increasefrombusinessmerger

3.Amountdecreaseinthecurrentperiod

3.Amountdecreaseinthecurrentperiod		4,849.56		4,849.56
(1)Disposalorscrapping		4,849.56		4,849.56

4.Period-endbalance

4.Period-endbalance

218,581,348.20

16,663,683.34

2,086,527.73

7,527,479.60

1,141,459.06

8,182,447.45

254,182,945.38

II.Accumulateddepreciation
1.Period-beginningbalance	149,723,225.51	7,731,863.65	1,751,569.49	4,843,137.73	860,076.33	5,041,458.95	169,951,331.66
2.Amountincreaseinthecurrentyear	2,936,269.76	490,640.64	22,772.28	350,972.22		363,480.46	4,164,135.36
(1)Provision	2,936,269.76	490,640.64	22,772.28	350,972.22		363,480.46	4,164,135.36

3.Amountdecreaseinthecurrentperiod

3.Amountdecreaseinthecurrentperiod		2,874.74		2,874.74
(1)Disposalorscrapping		2,874.74		2,874.74

4.Period-endbalance

4.Period-endbalance	152,659,495.27	8,222,504.29	1,774,341.77	5,191,235.21	860,076.33	5,404,939.41	174,112,592.28
III.Provisionforimpairment
1.Period-beginningbalance	3,555,385.70	871,618.28	6,165.00	276,816.12	281,382.73	188,681.48	5,180,049.31
2.Amountincreaseinthecurrentyear
(1)Provision

3.Amountdecreaseinthecurrentperiod

3.Amountdecreaseinthecurrentperiod

(1)Disposalorscrapping

4.Period-end

4.Period-end

3,555,385.70

871,618.28

6,165.00

276,816.12

281,382.73

188,681.48

5,180,049.31

balance
IV.Bookvalue
1.Period-endbookvalue	62,366,467.23	7,569,560.77	306,020.96	2,059,428.27	0.00	2,588,826.56	74,890,303.79
2.Period-beginningbookvalue	65,302,736.99	8,060,201.41	328,793.24	2,298,603.49	0.00	2,945,508.36	78,935,843.49

(2)Fixedassetsleasedoutbyoperatinglease

Unit:RMB

Item	Bookvalueattheendoftheperiod
Premisesandbuildings	59,539,656.85

(3)Fixedassetswhosepropertycertificatesarenotobtained

Unit:RMB

Item	Bookvalue	Reasonsforfailuretoobtainthepropertycertificate
YongtongBuilding	20,993,115.61	Thepropertyownershipcertificatehasnotbeenhandledduetohistoricalreasons.
AutomobileBuilding	20,055,818.44	Thepropertyownershipcertificatehasnotbeenhandledduetohistoricalreasons.
UndergroundparkinglotofTellusBuilding	7,194,383.00	Thepropertyownershipcertificateoftheparkinglotcannotbehandled.
3-5/F,Plants1#,2#and3#,TaoyuanRoad	2,624,489.41	Thepropertyownershipcertificatehasnotbeenhandledduetohistoricalreasons.
Transferfloor(s)ofTellusBuilding	1,146,690.08	Unabletoapplyforapropertyownershipcertificate
Building16,Taohuayuan	945,697.62	Thepropertyownershipcertificatehasnotbeenhandledduetohistoricalreasons.
Warehouse	685,198.81	Thepropertyownershipcertificatehasnotbeenhandledduetohistoricalreasons.
1/F,Bao'anCommercialandResidentialBuilding	491,644.59	Thepropertyownershipcertificatehasnotbeenhandledduetohistoricalreasons.
ShuibeiZhongtianBuilding	472,913.10	Thepropertyownershipcertificatehasnotbeenhandledduetohistoricalreasons.
WarehouseoftheTradeDepartment	45,478.45	Thepropertyownershipcertificatehasnotbeenhandledduetohistoricalreasons.
Shops,PlantsNo.5-7,Buxin	30,263.42	Thepropertyownershipcertificatehasnotbeenhandledduetohistoricalreasons.
SongquanApartment(mixed)	10,086.79	Thepropertyownershipcertificatehas

		notbeenhandledduetohistoricalreasons.
BuxinGeneratorRoom	5,994.58	Thepropertyownershipcertificatehasnotbeenhandledduetohistoricalreasons.
GuestHouseonRenminNorthRoad	5,902.41	Thepropertyownershipcertificatehasnotbeenhandledduetohistoricalreasons.
Total	54,707,676.31

(4)Impairmenttestoffixedassets

□Applicable?Notapplicable

16.Constructioninprogress

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Constructioninprogress	15,159,796.57	7,279,570.05
Total	15,159,796.57	7,279,570.05

(1)Informationonconstructioninprogress

Unit:RMB

Item	Period-endbalance			Period-beginningbalance
	Bookbalance	Impairmentprovision	Bookvalue	Bookbalance	Impairmentprovision	Bookvalue
RenovationoftheexhibitionhallandtreasuryareaofthesunkenareaonB1oftheTellusJewelryBuilding	5,889,728.96		5,889,728.96	4,740,393.23		4,740,393.23
Renovationprojectfor16/F,BuildingAand17-18/F,BuildingBoftheTellusGoldandDiamondBuilding	2,975,801.10		2,975,801.10
LayoutadjustmentprojectattheconnectionpointbetweenB1andShuibeiInternationalCenter	2,212,300.55		2,212,300.55
Decorationrenovation	1,184,913.11		1,184,913.11

projectfor1/F,JewelryBuilding
ReconstructionandupgradingoftheShuibeiZhongtianBuilding	808,507.65		808,507.65	808,507.65		808,507.65
DecorationprojectfortheannexbuildingoftheTellusGoldandDiamondBuilding	108,945.00		108,945.00	108,945.00		108,945.00
Otherprojects	1,979,600.20		1,979,600.20	1,621,724.17		1,621,724.17
Total	15,159,796.57		15,159,796.57	7,279,570.05		7,279,570.05

(2)Impairmentprovisionforconstructioninprogressinthecurrentperiod

Unit:RMB

Item

Period-beginningbalance

Increaseinthecurrentperiod

Decreaseinthecurrentperiod

Period-endbalance

Reasonforprovision

(3)Impairmenttestofprojectsunderconstruction

□Applicable?Notapplicable

17.Right-of-useassets

(1)Right-of-useassetsUnit:RMB

Item	Premisesandbuildings	Total
I.Originalbookvalue
1.Period-beginningbalance	80,631,305.71	80,631,305.71
2.Amountincreaseinthecurrentyear

3.Amountdecreaseinthecurrentperiod

3.Amountdecreaseinthecurrentperiod

4.Period-endbalance

4.Period-endbalance	80,631,305.71	80,631,305.71
II.Accumulateddepreciation
1.Period-beginningbalance	8,726,589.21	8,726,589.21
2.Amountincreaseinthecurrentyear	4,726,718.58	4,726,718.58
(1)Provision	4,726,718.58	4,726,718.58

3.Amountdecreaseinthecurrent

period

(1)Disposal

4.Period-endbalance

4.Period-endbalance	13,453,307.79	13,453,307.79
III.Provisionforimpairment
1.Period-beginningbalance
2.Amountincreaseinthecurrentyear
(1)Provision

3.Amountdecreaseinthecurrentperiod

3.Amountdecreaseinthecurrentperiod

(1)Disposal

4.Period-endbalance

4.Period-endbalance
IV.Bookvalue
1.Period-endbookvalue	67,177,997.92	67,177,997.92
2.Period-beginningbookvalue	71,904,716.50	71,904,716.50

(2)Impairmenttestofright-of-useassets

□Applicable?Notapplicable

18.Intangibleassets

(1)IntangibleassetsUnit:RMB

Item	Landuseright	Patentrights	Non-patentedtechnologies	Trademark	Computersoftware	Total
I.Originalbookvalue
1.Period-beginningbalance	1,967,851.00			128,500.00	7,196,385.90	9,292,736.90
2.Amountincreaseinthecurrentyear					372,557.55	372,557.55
(1)Purchase					372,557.55	372,557.55
(2)InternalR&D
(3)Increasefrombusinessmerger

3.Amountdecreaseinthe

currentperiod

(1)Disposal

4.Period-endbalance

4.Period-endbalance	1,967,851.00	0.00	0.00	128,500.00	7,568,943.45	9,665,294.45
II.Accumulatedamortization						0.00
1.Period-beginningbalance	802,676.49			110,987.78	4,463,302.02	5,376,966.29
2.Amountincreaseinthecurrentyear	51,785.53			2,112.63	226,492.35	280,390.51
(1)Provision	51,785.53			2,112.63	226,492.35	280,390.51

3.Amountdecreaseinthecurrentperiod

3.Amountdecreaseinthecurrentperiod

(1)Disposal

4.Period-endbalance

4.Period-endbalance	854,462.02	0.00	0.00	113,100.41	4,689,794.37	5,657,356.80
III.Provisionforimpairment
1.Period-beginningbalance
2.Amountincreaseinthecurrentyear
(1)Provision

3.Amountdecreaseinthecurrentperiod

3.Amountdecreaseinthecurrentperiod

(1)Disposal

4.Period-endbalance

4.Period-endbalance
IV.Bookvalue
1.Period-endbookvalue	1,113,388.98	0.00	0.00	15,399.59	2,879,149.08	4,007,937.65
2.Period-beginningbookvalue	1,165,174.51	0.00	0.00	17,512.22	2,733,083.88	3,915,770.61

(2)Impairmenttestofintangibleassets

□Applicable?Notapplicable

19.Long-termdeferredexpenses

Unit:RMB

Item	Period-beginningbalance	Amountincreaseinthecurrentperiod	Amortizationamountinthecurrentperiod	Otherdecreasedamount	Period-endbalance
Decorationengineering	38,392,179.02	5,518,897.27	3,448,584.09		40,462,492.20
Total	38,392,179.02	5,518,897.27	3,448,584.09		40,462,492.20

20.Deferredincometaxassets/deferredincometaxliabilities

(1)DeferredtaxassetsnotoffsetUnit:RMB

Item	Period-endbalance		Period-beginningbalance
	Deductibletemporarydifferences	Deferredtaxassets	Deductibletemporarydifferences	Deferredtaxassets
Deductiblelosses	4,116,772.28	1,029,193.07	12,429,491.12	3,107,372.77
Provisionforcreditimpairment	35,059,422.28	8,764,855.57	35,059,422.28	8,764,855.57
Deferredincome	687,408.75	171,852.19	687,408.75	171,852.19
Changesinthefairvalueoftradingfinancialassets	14,437,920.68	3,609,480.17	13,705,388.76	3,426,347.19
Changesinthefairvalueofotherequityinstrumentinvestments	9,793,299.53	2,448,324.88	9,793,299.53	2,448,324.88
Leaseliabilities	79,671,619.30	19,917,904.83	79,671,619.30	19,917,904.83
Total	143,766,442.82	35,941,610.71	151,346,629.74	37,836,657.43

(2)Deferredtaxliabilitiesnotoffset

Unit:RMB

Item	Period-endbalance		Period-beginningbalance
	Taxabletemporarydifferences	Deferredtaxliabilities	Taxabletemporarydifferences	Deferredtaxliabilities
Accelerateddepreciationoffixedassets	205,244.72	51,311.18	562,445.00	140,611.25
Timedifferenceofincometaxduetoallocationofrent-freeperiodincome	19,145,855.24	4,786,463.81	19,145,855.24	4,786,463.81
Measurementofremainingequityfairvalue	67,398,061.80	16,849,515.45	67,398,061.80	16,849,515.45

Right-of-useassets	74,533,199.60	18,633,299.90	74,533,199.60	18,633,299.90
Total	161,282,361.36	40,320,590.34	161,639,561.64	40,409,890.41

(3)Deferredtaxassetsorliabilitiespresentedinnetamountafterbeingoffset

Unit:RMB

Item	Amountofoffsettingofdeferredincometaxassetsagainstliabilitiesattheendoftheperiod	Period-endbalanceofdeferredtaxassetsorliabilitiesafteroffset	Mutualoff-setamountofdeferredtaxassetsandliabilitiesatthebeginningoftheperiod	Period-beginningbalanceofdeferredtaxassetsorliabilitiesafteroffset
Deferredtaxassets		35,941,610.71		37,836,657.43
Deferredtaxliabilities		40,320,590.34		40,409,890.41

(4)Detailsofunrecognizeddeferredtaxassets

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Deductibletemporarydifferences	123,519,997.09	123,519,997.09
Deductiblelosses	19,550,649.41	22,073,706.37
Total	143,070,646.50	145,593,703.46

(5)DeductiblelossesofunrecognizeddeferredtaxassetswillbecomematureanddueinthefollowingyearsUnit:RMB

Year	Period-endamount	Period-beginningamount	Remarks
2025		3,230,232.35
2026	7,956,456.42	8,589,171.35
2027	4,821,009.13	4,821,009.13
2028	5,266,380.29	5,433,293.54
2029	1,506,803.57
Total	19,550,649.41	22,073,706.37

21.Othernon-currentassets

Unit:RMB

Item	Period-endbalance			Period-beginningbalance
	Bookbalance	Impairmentprovision	Bookvalue	Bookbalance	Impairmentprovision	Bookvalue
Prepaidprojectpayment	47,071,710.51		47,071,710.51	47,071,710.51		47,071,710.51
ReclassificationofVATdebitbalance	7,205,934.16		7,205,934.16	8,385,565.03		8,385,565.03
Large-denominationcertificatesofdepositandinterestdueoveroneyear	42,167,033.34		42,167,033.34	41,431,777.78		41,431,777.78

Prepaidsoftwarepayment				164,000.00		164,000.00
Total	96,444,678.01		96,444,678.01	97,053,053.32		97,053,053.32

22.Assetswithrestrictedownershiporright-of-use

Unit:RMB

Item	Periodend				Periodbeginning
	Bookbalance	Bookvalue	Restrictiontype	Restriction	Bookbalance	Bookvalue	Restrictiontype	Restriction
Cashatbankandonhand	72,705,507.53	72,705,507.53	Securitydeposits	Usedforbankgoldleasing,payablenotes,andfuturesmargin	60,117,573.95	60,117,573.95	Securitydeposits	Usedforbankgoldleasing,futuresmargin,andjudicial-controlledamounts
Total	72,705,507.53	72,705,507.53			60,117,573.95	60,117,573.95

23.Short-termborrowings

(1)Classificationofshort-termborrowingsUnit:RMB

Item	Period-endbalance	Period-beginningbalance
Creditborrowing	160,119,111.11	145,131,694.44
Total	160,119,111.11	145,131,694.44

24.Tradingfinancialliabilities

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Including:
Financialliabilitiesdesignatedasmeasuredatfairvaluethroughprofitorloss	36,858,570.74	56,881,954.76
Including:
Goldleasing	36,858,570.74	56,881,954.76
Total	36,858,570.74	56,881,954.76

25.Derivativefinancialliabilities

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Hedginginstruments	575,060.00	1,380.00

Total

575,060.00

1,380.00

26.Notespayable

Unit:RMB

Category	Period-endbalance	Period-beginningbalance
Bankacceptancebill	28,000,000.00
Total	28,000,000.00

27.Accountspayable

(1)PresentationofaccountspayableUnit:RMB

Item	Period-endbalance	Period-beginningbalance
Purchasepaymentforgoodsandservices	10,491,743.79	6,150,884.19
Paymentforengineeringequipment	114,112,061.16	129,683,530.20
Total	124,603,804.95	135,834,414.39

(2)SignificantaccountspayablewithanaccountreceivableageofoveroneyearUnit:RMB

Item	Period-endbalance	Reasonsfornotrepayingorcarryingover
ShenzhenYinglongJian'an(Group)Co.,Ltd.	28,298,954.80	Project(s)unsettled
ChinaConstructionFirstBuilding(Group)CorporationLimited	7,341,720.70	Project(s)unsettled
ShenzhenYinuoConstructionEngineeringCo.,Ltd.	3,555,095.22	Project(s)unsettled
BeijingFugonglideTechnologyDevelopmentCo.,Ltd.	1,038,109.61	Project(s)unsettled
ShenzhenBuildingDecoratingGroupCo.,Ltd.	787,548.52	Project(s)unsettled
Total	41,021,428.85

28.Otherpayables

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Otherpayables	132,054,687.73	126,826,966.60
Total	132,054,687.73	126,826,966.60

(1)Otherpayables

1)OtherpayablespresentedbythenatureofpaymentUnit:RMB

Item	Period-endbalance	Period-beginningbalance
Guaranteeandsecuritydeposits	55,743,015.44	61,572,033.08
Associatedintercoursefunds	18,248,958.83	13,217,780.83
Withdrawalinadvance	9,979,843.96	14,559,784.33
Temporaryreceiptspayable	48,082,869.50	37,477,368.36
Total	132,054,687.73	126,826,966.60

2)OthersignificantaccountspayablewithanaccountreceivableageofoveroneyearoroverdueUnit:RMB

Item	Period-endbalance	Reasonsfornotrepayingorcarryingover
HongkongYujiaInvestmentLimited	2,146,404.58	Amountowedtorelatedpartycompanies,notyetrepaid
Total	2,146,404.58

29.Accountscollectedinadvance

(1)PresentationofaccountscollectedinadvanceUnit:RMB

Item	Period-endbalance	Period-beginningbalance
Rent	9,428,923.84	4,306,567.65
Total	9,428,923.84	4,306,567.65

30.Contractliabilities

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Goodsfeesreceivableinadvance	3,549,355.25	2,628,855.25
Servicesfeesreceivableinadvance	1,960,280.50	4,451,120.13
Total	5,509,635.75	7,079,975.38

31.Employeecompensationpayable

(1)EmployeecompensationpayableUnit:RMB

Item	Period-beginningbalance	Increaseinthecurrentperiod	Decreaseinthecurrentperiod	Period-endbalance
I.Short-termcompensation	33,425,356.15	25,652,764.93	21,234,263.81	37,843,857.27
II.Post-employmentbenefits-definedcontributionplan		2,147,050.34	2,147,050.34	0.00
III.Dismissalbenefits		72,490.10	72,490.10	0.00
Total	33,425,356.15	27,872,305.37	23,453,804.25	37,843,857.27

(2)Presentationofshort-termcompensation

Unit:RMB

Item	Period-beginningbalance	Increaseinthecurrentperiod	Decreaseinthecurrentperiod	Period-endbalance
1.Wages,bonuses,allowances,andsubsidies	33,338,217.09	22,327,642.62	17,974,004.84	37,691,854.87
2.Employeebenefits				0.00
3.Socialinsurancepremiums		809,845.40	809,845.40	0.00
Including:Medicalinsurancepremiums		675,065.34	675,065.34	0.00
Work-relatedinjuryinsurancepremiums		65,164.19	65,164.19	0.00
Maternityinsurancepremiums		69,615.87	69,615.87	0.00
4.Housingprovidentfund	1,012.80	1,586,036.31	1,586,036.31	1,012.80
5.Laborunionfundsandstaffeducationfunds	626.26	431,285.51	369,803.79	62,107.98
8.Others	85,500.00	497,955.09	494,573.47	88,881.62
Total	33,425,356.15	25,652,764.93	21,234,263.81	37,843,857.27

(3)Definedcontributionplan

Unit:RMB

Item	Period-beginningbalance	Increaseinthecurrentperiod	Decreaseinthecurrentperiod	Period-endbalance
1.Basicendowmentinsurance		2,031,314.15	2,031,314.15
2.Unemploymentinsurancepremium		115,736.19	115,736.19
Total		2,147,050.34	2,147,050.34	0.00

32.Taxespayable

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Value-addedtax	1,592,103.44	1,753,636.75
Corporateincometax	9,362,933.66	7,692,722.34
Individualincometax	505,406.02	1,174,933.55
Urbanmaintenanceandconstructiontax	47,779.64	89,600.86
Educationalsurcharge	27,707.89	79,842.74
Landusetax	224,037.74
Landvalueincrementtax	17,386,832.46	17,386,832.46

Stampduty	434,366.59	526,135.54
Propertytax	3,530,269.81
Othertaxes	140,895.04	153,743.82
Total	33,252,332.29	28,857,448.06

33.Non-currentliabilitiesduewithinoneyear

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Leaseliabilitiesduewithinoneyear	7,155,499.75	7,304,647.32
Total	7,155,499.75	7,304,647.32

34.Othercurrentliabilities

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Taxesofitemstobewrittenoff	3,172,726.99	3,388,998.35
Total	3,172,726.99	3,388,998.35

35.Leaseliabilities

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Leasepayment	64,188,913.70	69,524,214.23
Total	64,188,913.70	69,524,214.23

36.Long-termpayables

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Long-termpayables	3,920,160.36	3,920,160.36
Total	3,920,160.36	3,920,160.36

(1)Long-termpayablesbythenatureofpaymentUnit:RMB

Item	Period-endbalance	Period-beginningbalance
Employeehousingdeposit	3,908,848.40	3,908,848.40
Grantfortechnologyinnovationprojects	11,311.96	11,311.96
Total	3,920,160.36	3,920,160.36

37.Estimatedliabilities

Unit:RMB

Item	Period-endbalance	Period-beginningbalance	Reasonforformation
Pendinglitigation	268,414.80	268,414.80	Pendinglitigation
Total	268,414.80	268,414.80

38.DeferredincomeUnit:RMB

Item	Period-beginningbalance	Increaseinthecurrentperiod	Decreaseinthecurrentperiod	Period-endbalance	Reasonforformation
Governmentsubsidy	9,617,683.53		880,145.82	8,737,537.71	Asset-related
Total	9,617,683.53	0.00	880,145.82	8,737,537.71

39.Sharecapital

Unit:RMB

	Period-beginningbalance	Increaseordecrease(+,-)					Period-endbalance
		Issuanceofnewshares	Sharedonation	Conversionofthereservedfundsintoshares	Others	Subtotal
Totalshares	431,058,320.00						431,058,320.00

40.Capitalreserves

Unit:RMB

Item	Period-beginningbalance	Increaseinthecurrentperiod	Decreaseinthecurrentperiod	Period-endbalance
Capitalpremium(sharepremium)	425,768,053.35			425,768,053.35
Othercapitalreserves	5,681,501.16			5,681,501.16
Total	430,866,408.50			430,866,408.50

41.Othercomprehensiveincome

Unit:RMB

Item	Period-beginningbalance	Amountincurredinthecurrentperiod						Period-endbalance
		Amountincurredbeforeincometaxinthecurrentperiod	Less:Amountincludedinothercomprehensiveincomesinthepreviousperiodbuttransferredtoprofitandlossinthecurrentperiod	Less:Amountincludedinothercomprehensiveincomeinthepreviousperiodandtransferredtoretainedearningsinthecurrentperiod	Less:Incometaxexpenses	Attributabletotheparentcompanyaftertax	After-taxamountattributabletominorityshareholders

I.Othercomprehensiveincomeitemsnottobereclassifiedintoprofitsandlosses	-7,344,974.65		-7,344,974.65
Changesinthefairvalueofotherequityinstrumentinvestments	-7,344,974.65		-7,344,974.65
II.Othercomprehensiveincomeitemstobereclassifiedintoprofitsandlosses	26,422.00		26,422.00
Including:Othercomprehensiveincomeitemstobereclassifiedintoprofitsandlossesthroughtheequitymethod	26,422.00		26,422.00
Totalothercomprehensiveincome	-7,318,552.65		-7,318,552.65

42.Surplusreserve

Unit:RMB

Item	Period-beginningbalance	Increaseinthecurrentperiod	Decreaseinthecurrentperiod	Period-endbalance
Statutorysurplusreserves	63,956,286.46			63,956,286.46
Total	63,956,286.46			63,956,286.46

43.Undistributedprofits

Unit:RMB

Item	Currentperiod	Previousperiod
Undistributedprofitsattheendofthepreviousperiodbeforeadjustment	685,342,592.62	590,605,394.67
Undistributedprofitsattheendoftheperiodafteradjustment	685,342,592.62	590,605,394.67
Add:Netprofitattributabletoownersoftheparentcompanyduringtheperiod	76,662,479.69	44,139,962.93
Ordinarysharedividendspayable	13,362,807.92	12,069,632.96
Undistributedprofitsattheendoftheperiod	748,642,264.39	622,675,724.64

Breakdownofadjustedundistributedprofitsatthebeginningoftheperiod

1)DuetoretroactiveadjustmentofASBEandrelevantnewregulations,theaffectedundistributedprofitatthebeginningoftheperiodisRMB0.00.

2)Duetochangesinaccountingpolicies,theaffectedundistributedprofitatthebeginningoftheperiodisRMB0.00.

3)Duetothecorrectionofmajoraccountingerrors,theundistributedprofitofRMB0.00atthebeginningoftheperiodwasaffected.

4)Duetothechangeinthescopeofconsolidationcausedbythesamecontrol,theundistributedprofitofRMB0.00atthebeginningoftheperiodwasaffected.

5)TheamountofundistributedprofitsatthebeginningoftheperiodthatwasaffectedduetothetotalofotheradjustmentsisRMB

0.00.

44.Operatingrevenueandoperatingcost

Unit:RMB

Item	Amountincurredinthecurrentperiod		Amountincurredinthepreviousperiod
	Revenue	Costs	Revenue	Costs
Mainbusiness	1,580,023,748.85	1,451,925,990.76	702,184,781.46	608,012,821.75
Otherbusiness			2,651,629.48	591,816.65
Total	1,580,023,748.85	1,451,925,990.76	704,836,410.94	608,604,638.40

Breakdowninformationofoperatingrevenuesandoperatingcosts:

Unit:RMB

Classificationofcontract	Segment1		Segment2				Total
	Operatingrevenue	Operatingcost	Operatingrevenue	Operatingcost	Operatingrevenue	Operatingcost	Operatingrevenue	Operatingcost
Businesstype	1,580,023,748.85	1,451,925,990.76					1,580,023,748.85	1,451,925,990.76
Including:
Wholesaleandretailofjewelry	1,441,734,815.25	1,410,424,605.61					1,441,734,815.25	1,410,424,605.61
Leasingandservices	138,078,049.35	41,501,385.15					138,078,049.35	41,501,385.15
Others	210,884.25						210,884.25
By

operatingregion
Including:
SouthChina	1,017,725,204.81	897,350,269.66		1,017,725,204.81	897,350,269.66
EastChina	89,258,835.53	87,765,772.74		89,258,835.53	87,765,772.74
NorthChina	426,593,372.53	421,213,393.61		426,593,372.53	421,213,393.61
CentralChina	37,329,652.67	36,682,757.99		37,329,652.67	36,682,757.99
Otherregions	9,116,683.31	8,913,796.76		9,116,683.31	8,913,796.76
Bymarketorcustomertype
Including:

Bycontracttype

Bycontracttype

Including:

Bytimeoftransferofgoods

Bytimeoftransferofgoods

Including:

Bycontractterm

Bycontractterm

Including:

Bysaleschannel

Bysaleschannel

Including:

Total

45.Taxesandsurcharges

Unit:RMB

TotalItem

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Urbanmaintenanceandconstructiontax	1,233,347.07	625,625.14
Educationalsurcharge	893,173.74	446,539.19
Propertytax	3,530,269.75	3,126,665.09

Landusetax	197,577.76	136,660.83
Stampduty	1,164,004.73	518,916.20
Othertaxes	4,541.15	1,320.00
Total	7,022,914.20	4,855,726.45

46.Administrativeexpenses

Unit:RMB

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Employeecompensation	19,829,421.54	24,654,297.67
Officeexpenses	110,795.99	119,662.56
Transportandtravelexpenses	44,514.01	7,695.23
Businessentertainmentexpenses	48,702.75	52,838.20
Depreciationandamortization	2,224,953.37	2,118,529.00
Intermediaryagencyservicefees	269,351.37	906,265.09
Others	1,231,201.37	958,541.63
Total	23,758,940.40	28,817,829.38

47.Sellingexpenses

Unit:RMB

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Employeecompensation	3,521,903.27	6,048,479.76
Advertisingmarketingexpenses	4,453,697.92	2,008,639.20
Depreciationandamortization	1,361,625.33	1,576,507.45
Officeexpenses	173,640.67	178,798.04
Propertymanagement,water,andelectricityfees	65,294.90	81,594.29
Transportandtravelexpenses	134,013.99	344,110.00
Insuranceandsupervisorycharges	273,533.86	173,654.37
Others	671,873.13	1,551,315.90
Total	10,655,583.07	11,963,099.01

48.R&Dexpenses

Unit:RMB

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Employeecompensation	1,203,314.39
Informationtechnologyserviceexpenses	20,222.89
Depreciationandamortization	24,087.95
Others	105,407.57
Total	1,353,032.80

49.Financialexpenses

Unit:RMB

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Interestexpenses	5,197,620.36	4,751,743.88
Less:Interestincome	2,112,971.50	1,835,834.14
Less:Capitalizedinterest	0.00	1,510,324.98

Exchangeprofitsandlosses	409,047.03	-64,306.88
Others	192,197.54	50,454.91
Total	3,685,893.43	1,391,732.79

50.Otherincomes

Unit:RMB

Sourcesofotherincomes	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
I.Governmentsubsidiesincludedinotherincomes	5,606,545.82	4,465,807.01
Including:Governmentsubsidiesrelatedtodeferredincome	880,145.82	626,237.73
Governmentsubsidiesdirectlyincludedincurrentprofitsandlosses	4,726,400.00	3,839,569.28
II.Otheritemsrelatedtodailyactivitiesandincludedinotherincomes	73,501.77	9,658.93
Including:Individualincometaxwithholdingfees	73,501.77	9,658.93
Total	5,680,047.59	4,475,465.94

51.Incomefromchangesinfairvalue

Unit:RMB

Sourceofgainfromchangesinfairvalue	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Tradingfinancialassets	219,551.09	-2,783,204.51
Tradingfinancialliabilities	-1,908,400.00	-2,464,470.00
Derivativeinstrumentsofeffectivehedges	-1,292,744.45	-18,135.65
Total	-2,981,593.36	-5,265,810.16

52.Investmentincomes

Unit:RMB

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Incomefromlong-termequityinvestmentscalculatedthroughtheequitymethod	20,511,753.40	3,011,611.29
Investmentincomefromtradingfinancialassetsduringtheholdingperiod	4,062,385.40	8,468,244.22
ClosingincomefromcommodityfuturescontractsandT+Dcontracts(hedging)	-9,867,534.55	-2,556,837.71
Total	14,706,604.25	8,923,017.80

53.Creditimpairmentlosses

Unit:RMB

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Baddebtlossofaccountsreceivable	-751,209.02	6,669.80
Baddebtlossofotherreceivables	-106,335.89

Total

-857,544.91

6,669.80

54.AssetimpairmentlossesUnit:RMB

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
I.Lossondiminutioninvalueofinventoriesandimpairmentlossoncontractperformancecost		-3,700.50
Total		-3,700.50

55.Incomefromdisposalofassets

Unit:RMB

Sourcesofincomefromassetdisposal	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Gainsfromdisposaloffixedassets(lossestobelistedwith"-")	-227.20	-81,800.45

56.Non-operatingincomes

Unit:RMB

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod	Amountincludedincurrentnon-recurringprofitsandlosses
Gainsfromtheexchangeofnon-monetaryassets		22,690.35	0.00
Gainsfromunpayablepayments	667,747.57	262,274.08	667,747.57
Others	444,285.68	132,217.70	444,285.68
Total	1,112,033.25	417,182.13	1,112,033.25

57.Non-operatingexpenses

Unit:RMB

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod	Amountincludedincurrentnon-recurringprofitsandlosses
Lossfromscrappingofnon-currentassets		338.65
Inventorylossoffixedassets
Overduepaymentsandliquidateddamageexpenditure	107,338.47	119,344.47	107,338.47
Others
Total	107,338.47	119,683.12	107,338.47

58.Incometaxexpenses

(1)Listofincometaxexpenses

Unit:RMB

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Currentincometaxexpenses	17,857,884.67	12,664,515.42
Deferredtaxexpenses	1,805,746.63	-197,855.50
Total	19,663,631.30	12,466,659.92

(2)Accountingprofitandincometaxexpenseadjustmentprocess

Unit:RMB

Item	Amountincurredinthecurrentperiod
Totalprofit	99,173,375.34
Incometaxexpensesbasedonstatutory/applicabletaxrate	24,793,343.84
Effectofdifferenttaxratesappliedtosubsidiaries	-172,289.02
Effectofincometaxduringtheperiodbeforeadjustment	857,973.45
Effectofnon-taxableincome	-5,127,938.35
Impactofnon-deductiblecosts,expenses,andlosses	959,784.57
Effectofusingdeductiblelossesofunrecognizeddeferredincometaxassetsinthepreviousperiod	-1,270,542.30
Effectofdeductibletemporarydifferenceordeductiblelossesonunrecognizeddeferredtaxassetsinthecurrentperiod	-376,700.89
Incometaxexpenses	19,663,631.30

59.Othercomprehensiveincome

RefertoNoteVII.41fordetails

60.Itemsinthecashflowstatement

(1)OthercashrelatedtooperatingactivitiesOthercashreceivedrelatingtooperatingactivitiesUnit:RMB

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Guaranteeandsecuritydeposits	32,184,951.83	12,249,467.54
Interestincome	597,641.87	1,848,535.56
Currentaccountsandothers	77,849,320.09	153,004,930.68
Total	110,631,913.79	167,102,933.78

OthercashpaidrelatingtooperatingactivitiesUnit:RMB

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Out-of-pocketexpenses	20,185,486.98	15,722,806.60
Guaranteeandsecuritydeposits	18,341,700.56	7,957,202.52

Currentaccountsandothers	68,134,321.12	152,374,457.27
Total	106,661,508.66	176,054,466.39

(2)Othercashrelatedtoinvestingactivities

OthercashreceivedrelatingtoinvestingactivitiesUnit:RMB

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Incomefromfuturesliquidation	669,327.72	827,883.63
Total	669,327.72	827,883.63

OthercashpaidrelatingtoinvestingactivitiesUnit:RMB

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Futurestradingfeeandliquidationlosses	8,115,811.58	7,567,454.81
Total	8,115,811.58	7,567,454.81

(3)Cashrelatedtofinancialactivities

OthercashpaidrelatedtofinancingactivitiesUnit:RMB

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Refundofminorityshareholders'capital		4,900,000.00
Principalandinterestonleaseliabilitiespaid	754,459.08	628,844.00
Total	754,459.08	5,528,844.00

Changesinliabilitiesarisingfromfinancingactivities

□Applicable?Notapplicable

61.Supplementaryinformationtothecashflowstatement

(1)SupplementaryinformationforthecashflowstatementUnit:RMB

Supplementaryinformation	Amountinthecurrentperiod	Amountinthepreviousperiod
1.Adjustmentofnetprofittocashflowfromoperatingactivities:
Netprofits	79,509,744.04	45,088,066.43
Add:Impairmentprovisionforassets	857,544.91	-2,969.30
Depreciationoffixedassets,depletionofoilandgasassets,anddepreciationofproductivebiologicalassets	20,210,193.63	17,367,778.17
Depreciationofright-of-useassets	4,726,718.58	1,801,160.77
Amortizationofintangibleassets	280,390.51	1,098,090.38
Amortizationoflong-termprepaidexpenses	3,448,584.09	2,042,705.37

Lossesonthedisposaloffixedassets,intangibleassets,andotherlong-termassets(gaintobelistedwith"-")	227.20	81,800.45
Lossesfromthescrappingoffixedassets(gainstobelistedwith"-")
Lossesfromchangesinfairvalue(gainstobelistedwith"-")	2,981,593.36	5,265,810.16
Financialexpenses(gainstobelistedwith"-")	3,685,893.43	1,391,732.79
Investmentlosses(gainstobelistedwith"-")	-14,706,604.25	-8,923,017.80
Decreaseofdeferredincometaxassets(increasetobelistedwith"-")	1,895,046.72	-253,211.24
Increasesindeferredtaxliabilities(decreasetobelistedwith"-")	-89,300.07	55,355.72
Decreaseofinventory(increasetobelistedwith"-")	86,288,295.78	74,299,085.33
Decreaseinoperatingreceivables(increasetobelistedwith"-")	-95,752,549.66	-174,414,312.99
Increaseinoperatingitemspayable(decreasetobelistedwith"-")	13,973,710.65	24,859,983.86
Others
Netcashflowfromoperatingactivities	107,309,488.92	-10,241,941.90
2.Majorinvestmentandfinancingactivitiesthatdonotinvolvecashreceiptsandexpenditures:
Transferofdebtintocapital
Convertiblecorporatebondsduewithinoneyear
Fixedassetsacquiredthroughfinanciallease
3.Netchangesincashandcashequivalents:
Period-endbalanceofcash	155,899,714.76	261,521,100.08
Less:Period-beginningbalanceofcash	160,223,387.69	391,406,829.36
Add:Period-endbalanceofcashequivalents
Less:Period-beginningbalanceofcashequivalents
Netincreaseincashandcashequivalents	-4,323,672.93	-129,885,729.28

(2)Compositionofcashandcashequivalents

Unit:RMB

Item

Period-endbalance

Period-beginningbalance

I.Cash	155,899,714.76	160,223,387.69
Including:Cashonhand	324.59	17,215.98
Cashatbankavailableforpaymentatanytime	119,615,641.97	120,361,253.61
Othermonetaryfundsavailableforpaymentondemand	36,283,748.20	39,844,918.10
III.Period-endbalanceofcashandcashequivalents	155,899,714.76	160,223,387.69

(3)Monetaryfundsnotbelongingtocashorcashequivalents

Unit:RMB

Item	Amountinthecurrentperiod	Amountinthepreviousperiod	Reasonsfornotbelongingtocashandcashequivalents
Futuresandoptionsaccountmargin	4,104,642.60	51,328,583.35
Goldleasingsecuritydepositsandinterests	40,477,138.89	8,188,990.60
Marginpayablesecuritydepositsandinterests	28,123,726.04
Amountunderjudicialcontrol		600,000.00
Total	72,705,507.53	60,117,573.95

62.Monetaryitemsinforeigncurrency

(1)ForeigncurrencymonetaryitemsUnit:RMB

Item	Period-endforeigncurrencybalance	Conversionexchangerate	Period-endequivalentRMBbalance
Cashatbankandonhand
Including:USD	23,634.26	7.11	168,074.30
EUR
HKD	41,198.56	0.90	37,237.65

Accountsreceivable

Accountsreceivable

Including:USD

EUR

HKD

Long-termborrowings

Long-termborrowings

Including:USD

EUR

HKD

(2)Descriptionofoverseasoperatingentities,includingthedisclosureoftheprimaryplacesofbusinessabroad,bookkeepingbasecurrency,andthebasisforitsselectionforsignificantoverseasoperatingentities.Ifthereisachangeinthebookkeepingbasecurrency,thereasonforthechangeshallalsobedisclosed.

□Applicable?Notapplicable

63.Leasing

(1)TheCompanyastheleasee

?Applicable□NotapplicableVariableleasepaymentsnotincludedinthemeasurementofleaseliabilities

□Applicable?NotapplicableLeaseexpensesforshort-termleasesorlow-valueassetsthataresimplified

□Applicable?NotapplicableSituationsinvolvingsaleandleasebacktransactions

(2)TheCompanyasthelessorOperatingleaseswiththeCompanyasthelessor?Applicable□NotapplicableUnit:RMB

Item	Leaseincome	Including:Incomesrelatedtovariableleasepaymentsthatarenotincludedinthemeasurementofleasereceipts
Lease	138,078,049.35	0.00
Total	138,078,049.35

FinanceleasewiththeCompanyasthelessor

□Applicable?NotapplicableAnnualundiscountedleasereceiptsinthenextfiveyears

□Applicable?NotapplicableReconciliationofundiscountedleasepaymentstonetleaseinvestment

(3)Recognitionofsellingprofitorlossonafinanceleaseasaproducerordistributor

□Applicable?NotapplicableVIII.R&DExpenditures

Unit:RMB

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Employeecompensation	1,375,987.07
Consultingexpenses	57,193.66
Travelexpenses	39,312.82
Amortizationexpenses	24,087.95
Informationtechnologyserviceexpenses	20,222.89

Otherexpenses	8,901.09
Total	1,525,705.48
Including:Expenseaccount-basedR&Dexpenses	1,353,032.80
CapitalizedR&Dexpenses	172,672.68

1.R&Dprojectseligibleforcapitalization

Unit:RMB

Item	Period-beginningbalance	Amountincreaseinthecurrentperiod			Decreaseinthecurrentperiod			Period-endbalance
		Internaldevelopmentexpenditure	Others		Recognizedasintangibleassets	Transferredtocurrentprofitsandlosses
Materialbuyingmini-programR&D		172,672.68			172,672.68
Total		172,672.68			172,672.68

IX.EquityinOtherEntities

1.Interestsinsubsidiaries

(1)CompositionofthegroupUnit:RMB

Subsidiaryname	Registeredcapital	Principalplaceofbusiness	Registeredlocation	Businessnature	Shareholdingproportion		Acquisitionmethod
					Direct	Indirect
ShenzhenTellusXinyongtongAutomobileDevelopmentCo.,Ltd.	32,900,000.00	Shenzhen	Shenzhen	Commerce	5.00%	95.00%	Establishment
ShenzhenBao'anShiquanIndustryCo.,Ltd.	2,000,000.00	Shenzhen	Shenzhen	Commerce		100.00%	Establishment
ShenzhenSDGTellusRealEstateCo.,Ltd.	31,150,000.00	Shenzhen	Shenzhen	Commerce	100.00%		Establishment
ShenzhenTellusChuangyingTechnologyCo.,Ltd.	1,500,000.00	Shenzhen	Shenzhen	Commerce	100.00%		Establishment
Shenzhen	9,607,800.00	Shenzhen	Shenzhen	Commerce	51.00%		Establishmen

XinyongtongMotorVehicleInspectionEquipmentCo.,Ltd.							t
ShenzhenAutomobileIndustryandTradeCo.,Ltd.	58,960,000.00	Shenzhen	Shenzhen	Commerce	100.00%		Establishment
ShenzhenAutomobileIndustrySupplyandMarketingCompany	11,110,000.00	Shenzhen	Shenzhen	Commerce		100.00%	Establishment
ShenzhenZhongtianIndustryCo.,Ltd.	366,221,900.00	Shenzhen	Shenzhen	Commerce	100.00%		Establishment
ShenzhenHuariToyotaSales&ServiceCo.,Ltd.	2,000,000.00	Shenzhen	Shenzhen	Commerce	60.00%		Establishment
ShenzhenTellusTreasurySupplyChainTreasurySupplyChainCompany	50,000,000.00	Shenzhen	Shenzhen	Commerce	100.00%		Establishment
ShenzhenJewelryIndustryServiceCo.,Ltd.	100,000,000.00	Shenzhen	Shenzhen	Commerce	65.00%		Establishment
ShanghaiFanyueDiamondCo.,Ltd.	3,500,000.00	Shanghai	Shanghai	Commerce		100.00%	Establishment
GuorunGoldShenzhenCo.,Ltd.	200,000,000.00	Shenzhen	Shenzhen	Commerce	36.00%	3.25%	Establishment

Explanationofthefactthattheshareholdingpercentageisdifferentfromtheproportionofvotesinsubsidiaries:

TheshareholdingproportioninGuorunGoldShenzhenCo.,Ltd.isdifferentfromtheproportionofvotingrights,andthebasisforholdinghalforlessofthevotingrightsbutstillcontrollingtheinvestee:

InJune2022,theCompanycooperatedwithitssubsidiariesShenzhenJewelryIndustryServiceCo.,Ltd.,ShenzhenHTIGroupCo.,Ltd.,ChowTaiFookJewelleryPark(Wuhan)Co.,Ltd.,ChowTaiSengJewelryCo.,Ltd.,BeijingCaishikouDepartmentStoreCo.,Ltd.,andShenzhenZHLIndustrialCo.,Ltd.tojointlyinvestintheestablishmentofGuorunGoldShenzhenCo.,Ltd.Amongthem,theCompanycontributedRMB72million,withashareholdingratioof36%;ShenzhenJewelryIndustryServiceCo.,Ltd.,asubsidiaryoftheCompany,contributedRMB10million,withashareholdingratioof5%;ShenzhenHTIGroupCo.,

Ltd.held10%,andothershareholdersheld49%intotal.TheCompanysignedaconcertedactionagreementwithShenzhenHTIGroupCo.,Ltd.,stipulatingthatShenzhenHi-techInvestmentGroupCo.,Ltd.shallmaintainaconsensuswiththeCompanywhenvotingattheshareholders'meetingandtheboardofdirectorsofGuorunGoldShenzhenCo.,Ltd.Therefore,theCompanyanditssubsidiariesactuallyhold51%ofthevotingrightsofGuorunGoldShenzhenCo.,Ltd.,andhavecontroloverGuorunGoldShenzhenCo.,Ltd.ThebasisfortheCompany'scontrolovertheinvesteewhenholdinghalforlessofthevotingrightsandtheCompany'scontrolovertheinvesteewhenholdingmorethanhalfofthevotingrights:

Basisforcontrolovertheimportantstructuredentitiesincorporatedintheconsolidatedscope:

Basistodeterminewhetherthecompanyistheagentortheprincipal:

(2)Importantnon-wholly-ownedsubsidiariesUnit:RMB

Subsidiaryname	Shareholdingproportionofminorityshareholders	Profitorlossattributabletominorityshareholdersinthecurrentperiod	Dividendsdeclaredtominorityshareholdersinthecurrentperiod	Balanceofminorityshareholders'equityattheendoftheperiod
GuorunGoldShenzhenCo.,Ltd.	60.75%	407,133.92		117,138,993.94

Explanationofthedifferencebetweentheshareholdingpercentageofminorityshareholdersofsubsidiariesandthevotingrightsratio:

(3)Mainfinancialinformationofimportantnon-wholly-ownedsubsidiariesUnit:RMB

Subsidiaryname	Period-endbalance						Period-beginningbalance
	Currentassets	Non-currentassets	Totalassets	Currentliabilities	Non-currentLiabilities	Totalliabilities	Currentassets	Non-currentassets	Totalassets	Currentliabilities	Non-currentLiabilities	Totalliabilities
GuorunGoldShenzhenCo.,Ltd.	403,498,614.75	7,341,989.55	410,840,604.30	207,883,243.47	4,374,654.74	212,257,898.21	401,436,296.18	7,409,377.22	408,845,673.40	205,997,337.37	4,935,809.24	210,933,146.61

Unit:RMB

Subsidiaryname	Amountincurredinthecurrentperiod				Amountincurredinthepreviousperiod
	Operatingrevenue	Netprofits	Totalcomprehensiveincome	Cashflowsfromoperatingactivities	Operatingrevenue	Netprofits	Totalcomprehensiveincome	Cashflowsfromoperatingactivities
GuorunGoldShenzhenCo.,Ltd.	1,427,534,581.98	670,179.30	670,179.30	90,487,735.85	520,277,948.63	-792,883.11	-792,883.11	-46,812,821.71

2.Equityinjointventuresorassociates

(1)Importantassociatesandjointventures

Nameofjointventureorassociate	Principalplaceofbusiness	Registeredlocation	Businessnature	Shareholdingproportion		Accountingmethodfortheinvestmentinjointventuresorassociates
				Direct	Indirect
I.Jointventures
ShenzhenTellus-GmondInvestmentCo.,Ltd.	Shenzhen	Shenzhen	Leasingservices	50.00%		Equitymethod-basedaccounting
II.Associates
ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.	Shenzhen	Shenzhen	Automobilesales	35.00%		Equitymethod-basedaccounting

Explanationoftheshareholdingpercentagebeingdifferentfromtheproportionofvotingrightsinjointventuresorassociates:

Basisfortellingholdinglessthan20%ofthevotingrightsbutenjoyingasignificantinfluence,orholding20%ormoreofthevotingrightsbutnotenjoyingasignificantinfluence:

(2)Mainfinancialinformationofimportantjointventures

Unit:RMB

	Period-endbalance/amountincurredinthecurrentperiod	Period-beginningbalance/amountincurredinthepreviousperiod
	ShenzhenTellus-GmondInvestmentCo.,Ltd.	ShenzhenTellus-GmondInvestmentCo.,Ltd.
Currentassets	28,679,203.46	60,614,147.72
Including:Cashandcashequivalents	39,278,424.27	59,631,516.56
Non-currentassets	313,933,362.79	326,363,493.98
Totalassets	342,612,566.25	386,977,641.70
Currentliabilities	45,375,209.61	47,521,951.61
Non-currentLiabilities	214,176,000.00	240,954,000.00
Totalliabilities	259,551,209.61	288,475,951.61
Minorityinterests
Equityattributabletoshareholdersoftheparentcompany	83,061,356.64	98,501,690.09
Sharesofnetassetscalculatedaspertheshareholdingproportion	41,530,678.32	49,250,845.05
Adjustments
--Goodwill
--Unrealizedprofitofinternaltransactions
--Others
Bookvalueofequityinvestmentstojoint	41,530,678.32	49,250,845.05

ventures
Fairvalueofequityinvestmentinjointventureswithpublicoffers
Operatingrevenue	68,891,890.69	54,145,037.15
Financialexpenses	4,854,802.36	5,391,641.93
Incometaxexpenses	5,728,222.17	5,589,775.67
Netprofits	14,559,666.49	16,769,327.00
Netprofitfromdiscontinuedoperations
Othercomprehensiveincome
Totalcomprehensiveincome	14,559,666.49	16,769,327.00

Dividendsreceivedfromjointventuresinthecurrentyear

Dividendsreceivedfromjointventuresinthecurrentyear

15,000,000.00

15,000,000.00

(3)Majorfinancialinformationofimportantassociates

Unit:RMB

	Period-endbalance/amountincurredinthecurrentperiod	Period-beginningbalance/amountincurredinthepreviousperiod
	ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.	ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.
Currentassets	203,424,177.68	167,519,575.18
Non-currentassets	26,420,595.69	32,145,888.83
Totalassets	229,844,773.37	199,665,464.01
Currentliabilities	154,411,693.39	158,552,555.81
Non-currentLiabilities		1,231,962.74
Totalliabilities	154,411,693.39	159,784,518.55

Minorityinterests

Minorityinterests
Equityattributabletoshareholdersoftheparentcompany	75,433,079.98	39,880,945.46
Sharesofnetassetscalculatedaspertheshareholdingproportion	26,401,577.99	13,958,330.91
Adjustments
--Goodwill
--Unrealizedprofitofinternaltransactions
--Others
Bookvalueofequityinvestmentsinassociates	26,401,577.99	13,958,330.91
Fairvalueofequityinvestmentsinassociateswithpublicoffers
Operatingrevenue	385,757,907.13	529,459,351.87
Netprofits	35,552,134.52	-14,291,457.36
Netprofitfromdiscontinuedoperations
Othercomprehensiveincome

Totalcomprehensiveincome

35,552,134.52

-14,291,457.36

Dividendsreceivedfromassociatesinthecurrentyear

(4)Summaryoffinancialinformationofunimportantjointventuresandassociates

Unit:RMB

DividendsreceivedfromassociatesinthecurrentyearPeriod-endbalance/amountincurredinthecurrentperiod

	Period-endbalance/amountincurredinthecurrentperiod	Period-beginningbalance/amountincurredinthepreviousperiod
Jointventures:
Totalbookvalueofinvestments	13,458,348.66	13,302,311.60
Totalamountofthefollowingitemsattheshareholdingpercentage
--Netprofit	156,037.06	-371,042.13
--Totalcomprehensiveincome	156,037.06	-371,042.13
Associates:
Totalamountofthefollowingitemsattheshareholdingpercentage
--Netprofit	632,636.00
--Totalcomprehensiveincome	632,636.00

(5)Excesslossesincurredbyjointventuresorassociates

Unit:RMB

Nameofjointventureorassociate	Unrecognizedlossaccumulatedinthepreviousperiod	Unrecognizedlossinthecurrentperiod(ornetprofitsharedinthecurrentperiod)	Unrecognizedlossaccumulatedattheendofthecurrentperiod
ShenzhenTellusAutomobileServiceChainCo.,Ltd.	98,865.26		98,865.26
ShenzhenYongtongXindaTestingEquipmentCo.,Ltd.	1,176,212.73		1,176,212.73

X.GovernmentSubsidies

1.Governmentsubsidiesrecognizedasreceivableamountsattheendofthereportingperiod

□Applicable?NotapplicableReasonsfornotreceivingtheestimatedamountofgovernmentsubsidiesattheexpectedtimepoint

□Applicable?Notapplicable

(2)Liability-relatedprojectswithgovernmentsubsidies?Applicable□NotapplicableUnit:RMB

Accountingitem

Period-beginningbalance

Newgrantedamountinthecurrent

Amountincludednon-

Amounttransferredtoother

Otherchangesinthecurrent

Period-endbalance

Asset/income-related

		period	operatingrevenuesinthecurrentperiod	incomesinthecurrentperiod	period
Deferredincome	9,617,683.53			880,145.82		8,737,537.71	Asset-related

3.Governmentsubsidiesincludedincurrentprofitsandlosses

?Applicable□NotapplicableUnit:RMB

Accountingitem	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Otherincomes	5,680,047.59	4,475,465.94

XI.RisksRelatedtoFinancialInstruments

1.VariousrisksarisingfromfinancialinstrumentsThemajorfinancialinstrumentsoftheCompanyincludemonetarycapitals,notesreceivable,accountsreceivable,otherreceivables,non-currentassetsduewithinoneyear,othercurrentassets,tradingfinancialassets,otherinvestmentonbonds,otherequityinstrumentinvestment,long-termreceivables,accountspayable,otherpayables,short-termborrowings,tradingfinancialliabilities,non-currentliabilitiesduewithinoneyear,leaseliabilities,andlong-termpayables.DetailsofeachfinancialinstrumentoftheCompanyaredisclosedinthenotesrelated.RisksrelatedtothesefinancialinstrumentsandriskmanagementpoliciesforreducingtheserisksadoptedbytheCompanyaredescribedasfollows.ThemanagementoftheCompanymanagesandmonitorstheseriskexposurestoensurethattheaboverisksarecontrolledinalimitedscope.ObjectivesandpoliciesofriskmanagementThemajorrisksthatmaybecausedbytheCompany’sfinancialinstrumentsincludecreditrisks,liquidityrisks,andmarketrisks(includingexchangeraterisk,interestraterisk,andcommoditypricerisk).TheCompany'soverallriskmanagementplanaimstomitigatethepotentialadverseeffectsontheCompany'sfinancialperformancecausedbytheunpredictabilityofthefinancialmarket.TheCompanyhasformulatedriskmanagementpoliciestoidentifyandanalyzealltherisksfacedbytheCompany,setuptheacceptablerisklevel,anddesigncorrespondinginternalcontrolprocedurestomonitortheCompany'srisklevel.TheseriskmanagementpoliciesandrelatedinternalcontrolsystemswillbereviewedregularlytoaccommodatemarketconditionsorchangesintheCompany'soperatingactivities.Theinternalauditdepartmentwillalsoregularlyorirregularlycheckwhethertheimplementationofsuchinternalcontrolsystemscomplieswithriskmanagementpolicies.TheCompanydisseminatesrisksinfinancialinstrumentsthroughappropriatediversifiedinvestmentsandbusinessportfoliosandformulatescorrespondingriskmanagementpoliciestoreducerisksconcentratedinasingleindustry,specificregions,orspecificcounterparties.

(1)Creditrisks

CreditriskistheriskoffinanciallossoftheCompanycausedbyacounterparty'sfailuretomeetitsobligationsinacontract.TheCompanymanagescreditrisksthroughportfolioclassification.Creditrisksmainlyarisefromdepositsinbanks,notesreceivable,accountsreceivable,otherreceivables,long-termreceivables,otherdebtinvestments,etc.BankdepositsoftheCompanyaremainlykeptinstate-ownedbanksandotherlargeandmedium-sizedlistedbanks,whicharemainlydepositedinfinancialinstitutionswithgoodreputationsandhighcreditratings.ItisexpectedthattherewillbenosignificantcreditriskforbankdepositsoftheCompany.Fornotesreceivable,accountsreceivable,otherreceivables,andlong-termreceivables,relevantpoliciesareestablishedbytheCompanytocontrolcreditriskexposure.TheCompanyevaluatescustomers'creditqualificationsbasedontheirfinancialstatus,creditrecords,andotherfactorssuchascurrentmarketconditions,andsetscorrespondingcreditperiods.TheCompanywillmonitorthecreditrecordsofcustomersperiodically.Forcustomerswithpoorcreditrecords,measuressuchaswrittenpaymentdemand,shorteningthecreditperiod,orcancelingthecreditperiodwillbeadoptedbytheCompany,toensuretheoverallcreditriskisinthecontrollablescope.TheCompany'sdebtorsofaccountsreceivablearecustomersdistributedindifferentindustriesandareas.TheCompanycontinuouslyconductscreditassessmentsonthefinancialstatusofaccountsreceivableand,whenappropriate,purchasescreditguaranteeinsurance.ThemaximumcreditriskexposuretolerablebytheCompanyisthebookamountofeachofthefinancialassetitemsinthebalancesheet.TheCompanyhasnotprovidedanyotherguaranteethatmaycausetheCompanytobearcreditrisks.AmongtheaccountsreceivableoftheCompany,theaccountsreceivablefromthetopfivecustomersaccountfor47.26%ofthetotalaccountsreceivable(2023:43.23%).Additionally,amongtheotherreceivables,theamountsowedbythetopfivecompaniesinamountinarrearrepresent49.97%oftheCompany'stotalotherreceivables(2023:47.55%).

(2)LiquidityrisksLiquidityriskreferstotheriskofashortageoffundsarisingfromtheperformanceoftheCompany'sobligationstosettlethroughthedeliveryofcashorforotherfinancialassets.Inmanagingliquidityrisk,theCompanymaintainssufficientcashandcashequivalentsasdeemednecessarybymanagementandmonitorsthemtomeetoperationalneedsandmitigatetheimpactofcashflowvolatility.ThemanagementoftheCompanymonitorstheutilizationofbankloansandensurescompliancewithborrowingagreements.Meanwhile,theCompanyhasobtainedcommitmentsfrommajorfinancialinstitutionsregardingtheprovisionofadequatereservefundstomeettheCompany'sfundrequirementsintheshortandlongterms.SourcesoftheCompany'sworkingcapitalincludefundsgeneratedfromoperatingactivities,bankloans,andotherborrowings.Attheendoftheperiod,theunusedbankborrowinglimitoftheCompanywasRMB560million(RMB667millionattheendofthepreviousyear).

Attheendoftheperiod,financialliabilitiesandoff-balancesheetguaranteeditemsheldbytheCompanyareanalyzedasfollowsbasedontheexpirationdateofundiscountedremainingcontractcashflow(unit:RMB10,000):

Projectname	June30,2024
	Within1year	1-2years	2-3years	Over3years	Total
Financialliabilities:
Short-termborrowings	16,011.91				16,011.91
Tradingfinancialliabilities	3,685.86				3,685.86
Derivativefinancialliabilities	57.51				57.51
Accountspayable	12,460.38				12,460.38
Otherpayables	13,205.47				13,205.47
Currentportionofnon-currentliabilities	715.55				715.55
Leaseliabilities		521.00	912.07	6,102.07	7,535.14
Long-termpayables				392.02	392.02
Total	46,136.67	521.00	912.07	6,494.09	54,063.83

Attheendofthepreviousyear,financialliabilitiesandoff-balancesheetguaranteeditemsheldbytheCompanywereanalyzedasfollowsbasedontheexpirationdateofundiscountedremainingcontractcashflow(unit:RMB10,000):

Projectname	December31,2023
	Within1year	1-2years	2-3years	Over3years	Total
Financialliabilities:
Short-termborrowings	14,513.17				14,513.17
Tradingfinancialliabilities	5,688.20				5,688.20
Derivativefinancialliabilities	0.14				0.14
Accountspayable	13,583.44				13,583.44
Otherpayables	12,682.70				12,682.70
Currentportionofnon-currentliabilities	1,066.04				1,066.04
Leaseliabilities		995.42	912.07	6,102.07	8,009.56
Long-termpayables				392.02	392.02
Total	47,533.69	995.42	912.07	6,494.09	55,935.27

Theamountoffinancialliabilitiesdisclosedintheabovetableisundiscountedcontractualcashflowsandmaythereforedifferfromtheircarryingamountinthebalancesheet.Themaximumguaranteeamountofthesignedguaranteecontractdoesnotrepresenttheamounttobepaid.

(3)MarketrisksMarketriskoffinancialinstrumentsreferstotheriskoffluctuationinfairvalueorfuturecashflowoffinancialinstrumentsduetomarketpricedevelopment.Marketrisksincludeinterestraterisk,exchangeraterisk,andotherpricerisks.Interestraterisk

Interestrateriskreferstotheriskthatthefairvalueorfuturecashflowoffinancialinstrumentswillfluctuateduetochangesinthemarketinterestrate.Interestrateriskcancomefromrecognizedinterest-bearingfinancialinstrumentsandunrecognizedfinancialinstruments(suchascertainloancommitments).TheinterestrateriskoftheCompanymainlyarisesfromlong-termborrowingsfrombanks,bondspayable,andotherlong-termdebtswithinterest.FinancialliabilitieswithafloatinginterestrateexposetheCompanytocashflowinterestraterisk,andfinancialliabilitieswithafixedinterestrateexposeittoafairvalueinterestraterisk.TheCompanydeterminestheratiooffixed-rateandfloating-ratecontractsbasedonthemarketenvironmentandmaintainsanappropriatecombinationoffixed-rateandfloating-rateinstrumentsthroughregularreviewandmonitoring.TheCompanykeepsaneyeontheeffectofchangesininterestratesontheCompany'sinterestraterisk.Atpresent,theCompanydoesnottakeanyinterestratehedgingpolicy.However,themanagementisresponsibleformonitoringinterestrateriskandwillconsiderhedgingsignificantinterestrateriskswhennecessary.Theincreaseininterestrateswillincreasethecostofnewinterest-bearingdebtsandtheCompany'sunpaidinterestexpenseoninterest-bearingdebtsaccruedatfloatinginterestrates,whichwillhaveasignificantadverseeffectontheCompany'sfinancialresults.Themanagementwilldulymakeadjustmentsaccordingtothelatestmarketconditions.Theseadjustmentsmayreduceinterestraterisksviainterestrateswaps.ForfinancialinstrumentsheldonthebalancesheetdatethatexposetheCompanytofairvalueinterestraterisk,theimpactofnetprofitandshareholders'equityintheabovesensitivityanalysisistheimpactafterre-measurementoftheabovefinancialinstrumentsaccordingtothenewinterestrateassumingthattheinterestrateonthebalancesheetdatechanges.Forfloatingratenon-derivativeinstrumentsheldonthebalancesheetdatethatexposetheCompanytocashflowinterestraterisk,theimpactofnetprofitandshareholders'equityintheabovesensitivityanalysisistheimpactoftheaboveinterestratechangesontheestimatedannualinterestexpensesorincome.Thepreviousyear'sanalysiswasbasedonthesameassumptionandmethodology.ExchangerateriskExchangerateriskistheriskthatthefairvalueorfuturecashflowsofafinancialinstrumentwillfluctuateduetochangesinforeignexchangerates.Exchangerateriskmaycomefromfinancialinstrumentsvaluedataforeigncurrencyotherthanthebookkeepingbasecurrency.ThemainbusinessoftheCompanyisconductedinChinaandsettledinRMB.Therefore,theCompanybelievesthattheexchangerateriskfacedisnotsignificant.TheCompanykeepsaneyeontheeffectofthefluctuationinexchangeratesonitsexchangeraterisk.Atpresent,theCompanydoesnottakeanyactiontoavoidtheexchangeraterisk.However,themanagementisresponsibleformonitoringexchangeraterisksandwillconsiderhedgingsignificantinterestrateriskswhennecessary.CapitalmanagementTheobjectiveoftheCompany'scapitalmanagementpolicyistoensurethesustainabilityofoperations,therebyprovidingreturnstoshareholdersandbenefitingotherstakeholders,whilemaintaininganoptimalcapitalstructuretoreducethecostofcapital.

Tomaintainoradjustthecapitalstructure,theCompanymayadjustthefinancingmethodandtheamountofdividendspaidtoshareholders,returncapitaltoshareholders,issuenewsharesandotherequityinstruments,orsellassetstoreduceliabilities.TheCompanymonitorscapitalstructurebasedontheasset-liabilityratio(i.e.totalliabilitiesdividedbytotalassets).Attheendoftheperiod,theCompany'sasset-liabilityratiois27.92%(27.99%attheendofthepreviousyear).

2.Hedging

(1)TheCompanyconductshedgingbusinessforriskmanagement?Applicable□NotapplicableToavoidtheriskofchangesinthefairvalueofgoldrawmaterialsheldbythem(i.e.thehedgedrisk),thesubsidiariesoftheCompany,GuorunGoldShenzhenCo.,Ltd.andShenzhenTellusTreasurySupplyChainTechCo.,Ltd.,analyzedtheexpectedpurchasetransactionsofgoldrawmaterialsbasedonthenumberofgoldbarsbookedandinvestedbycustomersand,onthisbasis,usedhedginginstrumentssuchasdeferreddeliverycontractsforspotgoldofShanghaiGoldExchange,goldfuturescontractsofShanghaiFuturesExchange,andexchangegoldoptions.Inthisway,theriskofgoldproductpricedeclinecausedbythesharpdropingoldpricecanbeavoided.GuorunGold,asubsidiaryoftheCompany,formulatedtheHedgingTransactionManagementGuidelines,whichclearlystipulatestheapprovalauthority,operationprocess,andriskcontrolfortheCompanytocarryouthedgingbusiness.TheapprovalproceduresfortheCompanytouseitsownfundstocarryouthedgingbusinesscomplywithrelevantnationallaws,regulations,andtheArticlesofAssociation.ThegolddeferredtransactionhedgingbusinesscarriedouttoavoidfluctuationsingoldpricesisconducivetocontrollingoperationalrisksandimprovingtheCompany'sabilitytoresistmarketfluctuations.

(2)TheCompanycarriesouteligiblehedgingbusinessandapplieshedgeaccounting

Thebookvalueofthehedgeditemsandrelatedadjustmentsareasfollows:

H12024

Item	Bookvalueofthehedgeditem		Accumulatedamountofhedgingadjustmentforfairvalueofhedgeditems(includedinthebookvalueofhedgeditems)		Listeditemsofthebalancesheetincludinghedgeditems	Changesinthefairvalueofhedgeditemsusedasabasisforrecognizinganinvalidportionofhedgesin2023(note)
	Asset	Liability	Asset	Liability
Commoditypricerisk-inventory	68,886,072.56	-	21,982.96			-

2023

Item	Bookvalueofthehedgeditem		Accumulatedamountofhedgingadjustmentforfairvalueofhedgeditems(includedinthebookvalueofhedgeditems)		Listeditemsofthebalancesheetincludinghedgeditems	Changesinthefairvalueofhedgeditemsusedasabasisforrecognizinganinvalidportionofhedgesin2023(note)
	Asset	Liability	Asset	Liability
Commoditypricerisk-inventory	85,802,395.07	-	442,847.41	-	Inventories	-

Changesinthebookvalueandfairvalueofhedginginstrumentsareasfollows:

H12024

Item	Nominalamount	Bookvalueofhedginginstrument		Listeditemsofthebalancesheetincludinghedginginstruments	Changesinthefairvalueofhedginginstrumentsusedasabasisforrecognizinganinvalidportionofhedgesin2023(note)
	ofhedginginstrument	Asset	Liability
Commoditypricerisk-inventory	68,886,072.56	0	575,060.00	Derivativefinancialasset/liability	-

2023

Item	Nominalamount	Bookvalueofhedginginstrument		Listeditemsofthebalancesheetincludinghedginginstruments	Changesinthefairvalueofhedginginstrumentsusedasabasisforrecognizinganinvalidportionofhedgesin2023(note)
	ofhedginginstrument	Asset	Liability
Commoditypricerisk-inventory	85,802,395.07	298,320.00	1,380.00	Derivativefinancialasset/liability	-

(3)TheCompanycarriesouthedgingbusinessforriskmanagementandexpectstoachievetheriskmanagementobjectives,butdoesnotapplyhedgeaccounting

□Applicable?Notapplicable

3.Financialassets

(1)Classificationoftransfermethods

□Applicable?Notapplicable

(2)Financialassetsderecognizedduetotransfers

□Applicable?Notapplicable

(3)Continuinginvolvementinthetransferoffinancialassets

□Applicable?NotapplicableXII.DisclosureofFairValue

1.Endingfairvalueoftheassetsandliabilitiesmeasuredatfairvalue

Unit:RMB

Item	Period-endfairvalue
	Level1fairvaluemeasurement	Level2fairvaluemeasurement	Level3fairvaluemeasurement	Total
I.ContinuousFairValueMeasurement	--	--	--	--
(I)Tradingfinancialassets		302,715,467.76	74,799,015.27	377,514,483.03
1.Financialassetsatfairvaluethroughprofitorloss		302,715,467.76	74,799,015.27	377,514,483.03
(2)Equityinstrumentinvestments			74,799,015.27	74,799,015.27
(4)Structureddepositsandfinancialproducts		302,715,467.76		302,715,467.76
(II)Otherdebtinvestments		105,986,078.92		105,986,078.92
(III)Otherequityinstrumentinvestments			383,317.67	383,317.67
(VI)Arbitrageditems	68,886,072.56			68,886,072.56
Totalassetscontinuouslymeasuredatfairvalue	68,886,072.56	408,701,546.68	75,182,332.94	552,769,952.18
(VII)Specifiedasfinancialliabilitiesatfairvaluewithchangesintocurrentprofitsandlosses	36,858,570.74			36,858,570.74
(VIII)Derivativefinancialliabilities	575,060.00			575,060.00
1.Hedginginstruments	575,060.00			575,060.00
Totalamountof	37,433,630.74	0.00	0.00	37,433,630.74

liabilitiescontinuouslymeasuredatfairvalue
II.Non-continuousfairvaluemeasurement	--	--	--	--

2.Basisfordeterminingthemarketpriceofitemsconcerningcontinuousandnon-continuouslevel1fairvaluemeasurementLevel1:Quotationsforthesameassetsorliabilitiesinactivemarkets(unadjusted).TheCompanydesignatesthefinancialliabilitiesmeasuredatfairvaluethroughprofitorlossasthephysicalgoldleasingbusinessfrombanksbytheCompany.Thereisanactivemarketforgold(i.e.ShanghaiGoldExchange),andtheShanghaiGoldExchangepublishestheclosingpriceofgoldcontracttransactionsoneachtradingday.Attheendoftheperiod,theCompanyusestheclosingpricepublishedbytheShanghaiGoldExchangeonthelasttradingdayasthebasisfordeterminingthemarketprice.ThehedgeditemsoftheCompanyaregoldproductinventories,andthehedginginstrumentsareassets/liabilitiesarisingfromchangesinthefairvalueofgoldfuturescontractsandgoldspotdeferredsettlementcontractsheldbytheCompany.TheCompanydeterminesthefairvaluebasedonthepublicquotationsofgoldspottransactionsandfuturestransactionsofShanghaiGoldExchangeandShanghaiFuturesExchange.

3.Qualitativeandquantitativeinformationaboutvaluationtechniquesandkeyparametersofitemsconcerningcontinuousandnon-continuouslevel2fairvaluemeasurementLevel2:Observableinputvaluesotherthanmarketquotationsforassetsorliabilitiesinlevel1areuseddirectly(i.e.price)orindirectly(i.e.derivedfromprice).ThetradingfinancialassetsheldbytheCompanyarebankfinancialproductswithone-yearprincipalguaranteedfloatingincome,andtheirfairvalueisdeterminedbasedondiscountedfuturecashflowscalculatedatanagreedexpectedrateofreturn.Thereisnomaterialdifferencebetweenthefairvalueandbookcostofothernon-currentfinancialassetsheldbytheCompany.Informationonlevel2fairvaluemeasurement

Content	Period-endfairvalue	Valuationtechnique	Inputvalue
Derivativeinstrument:
Derivativefinancialassets	--	Discountedcashflowmethod	Expectedinterestrate
Derivativefinancialliabilities	--	Discountedcashflowmethod	Expectedinterestrate

4.Qualitativeandquantitativeinformationaboutvaluationtechniquesandkeyparametersofitemsconcerningcontinuousandnon-continuouslevel3fairvaluemeasurement

5.Informationonadjustmentbetweenbeginningbookvalueandendingbookvalueofitemssubjecttocontinuouslevel3fairvaluemeasurementandsensitivityanalysisofunobservableparametersLevel3:Anyinputvalue(unobservableinputvalue)thatisnotbasedonobservablemarketdataisusedforassetsorliabilities.EquityinstrumentinvestmentsaremeasuredbytheCompanybasedontheinvestmentcostasareasonableestimateofthefairvalue,becausetheoperatingenvironment,operatingconditions,andfinancialconditionsoftheinvestee,ChinaPUFAMachineryIndustryCo.,Ltd.,havenotchangedsignificantly.Quantitativeinformationofsignificantunobservableinputvaluesusedinlevel3fairvaluemeasurement

Content	Period-endfairvalue	Valuationtechnique	Unobservableinputvalue	Range(weightedaverage)
Equityinstrumentinvestment:
Unlistedequityinvestment
	383,317.67	Netassets	N/A	N/A

6.ReasonsfortransferandthepoliciesapplicableatthetimeoftransferforitemssubjecttocontinuousfairvaluemeasurementandhavingtransferredbetweenlevelsinthecurrentperiodInthisyear,thefairvaluemeasurementoffinancialassetsandfinancialliabilitiesoftheCompanydidnottransferbetweenLevel1andLevel2,ortransferintooroutofLevel3.Forfinancialinstrumentstradedinactivemarkets,theCompanydeterminestheirfairvaluebasedonactivemarketquotes.Forfinancialinstrumentsnottradedinactivemarkets,theCompanyusesvaluationtechniquestoestablishtheirfairvalue.Theusedvaluationmodelmainlyincludesthediscountedcashflowmodel,marketcomparablecompanymodel,etc.Theinputvaluesofvaluationtechniquesmainlyincludetherisk-freeinterestrate,benchmarkinterestrate,exchangerate,creditpointdifference,liquiditypremium,discountforlackofmarketability(DLOM),etc.

XIII.RelatedPartiesandRelatedTransactions

1.Informationoftheparentcompany

Nameoftheparentcompany	Registeredlocation	Businessnature	Registeredcapital	ShareholdingproportionoftheparentcompanytotheCompany	VoteproportionoftheparentcompanytotheCompany
ShenzhenSpecialEconomicZoneDevelopmentGroupCo.,Ltd.	Shenzhen	Realestatedevelopmentandoperation,domesticcommerce	RMB6,179,406,000	49.09%	49.09%

Informationoftheparentcompany

ShenzhenSpecialEconomicZoneDevelopmentGroupCo.,Ltd.(hereinafterreferredtoas"SDGGroup")wasestablishedonJune20,1982withtheinvestmentoftheState-ownedAssetsSupervisionandManagementCommissionofShenzhenMunicipalPeople'sGovernment.TheCompanynowholdsabusinesslicensewithaunifiedsocialcreditcodeof91440300192194195C,andaregisteredcapitalofRMB6,179,406,000.TheultimatecontrollingpartyoftheCompanyistheState-ownedAssetsSupervisionandManagementCommissionofShenzhenMunicipalPeople’sGovernment.

2.InformationofthesubsidiariesoftheCompany

FordetailsoftheCompany'ssubsidiaries,pleaserefertoNoteIX.1.

3.InformationofthejointventuresandassociatesoftheCompanyTheimportantjointventuresorassociatesoftheCompanyaredetailedinNoteIX.2.Theinformationonotherjointventuresorassociatesthatproducedbalancebyconductingrelated-partytransactionswiththeCompanyinthecurrentperiodorintheearlierperiodisshownasfollows:

Nameofjointventureorassociate	RelationshipwiththeCompany
ShenzhenTellusXinyongtongAutomobileServiceCo.,Ltd.	AssociateoftheCompany
ShenzhenTellusAutomobileServiceChainCo.,Ltd.	AssociateoftheCompany
ShenzhenYongtongXindaTestingEquipmentCo.,Ltd.	AssociateoftheCompany
ShenzhenXiandaoNewMaterialsCo.,Ltd.	AssociateoftheCompany
ShenzhenTelixingInvestmentCo.,Ltd.	JointventureoftheCompany

4.Informationofotherrelatedparties

Nameofotherrelatedparty	RelationshipbetweenotherrelatedpartyandtheCompany
ShenzhenSDGMicrofinanceCo.,Ltd.	ControlledsubsidiaryoftheCompany'sparentcompany
ShenzhenSDGTianeIndustrialCo.,Ltd.	ControlledsubsidiaryoftheCompany'sparentcompany
ShenzhenMachinery&EquipmentImport&ExportCo.,Ltd.	ControlledsubsidiaryoftheCompany'sparentcompany
ShenzhenSDGRealEstateCo.,Ltd.	ControlledsubsidiaryoftheCompany'sparentcompany
HongkongYujiaInvestmentLimited	ControlledsubsidiaryoftheCompany'sparentcompany
ShenzhenSDGEngineeringManagementCo.,Ltd.	ControlledsubsidiaryoftheCompany'sparentcompany
ShenzhenTellusYangchunRealEstateCo.,Ltd.	ControlledsubsidiaryoftheCompany'sparentcompany
ShenzhenLonggangTellusRealEstateCo.,Ltd.	ControlledsubsidiaryoftheCompany'sparentcompany
ShenzhenSDGTellusPropertyManagementCo.,Ltd.	ControlledsubsidiaryoftheCompany'sparentcompany
ShenzhenSDGServiceCo.,Ltd.	ControlledsubsidiaryoftheCompany'sparentcompany
ShenzhenSDGBuildingTechnologyCo.,Ltd.	ControlledsubsidiaryoftheCompany'sparentcompany
ShenzhenSDGLimingOptoelectronics(Group)Co.,Ltd.	ControlledsubsidiaryoftheCompany'sparentcompany
ShenzhenWahlaiDecoration&FurnitureCo.,Ltd.	AssociateoftheCompany'sparentcompany
GuZhiming	Keymanagerialstaffmember
ShenzhenZhiguJinyunTechnologyCo.,Ltd.	Enterprisesubjecttosignificantimpactbykeymanagementpersonnel
ShenzhenZHLIndustrialCo.,Ltd.	Minorityshareholderofimportantsubsidiary
BeijingCaishikouDepartmentStoreCo.,Ltd.	Minorityshareholderofimportantsubsidiary
ShenzhenNiubisiJewelryTradingCo.,Ltd.	Enterprisecontrolledbyminorityshareholdersofimportantsubsidiary
ShenzhenYuepengjinJewelryCo.,Ltd.	Enterprisecontrolledbyminorityshareholdersofimportantsubsidiary
ShenzhenYuepengjinE-commerceCo.,Ltd.	Enterprisecontrolledbyminorityshareholdersofimportantsubsidiary
GuorenProperty&CasualtyInsuranceCo.,Ltd.	ControlledsubsidiaryoftheparentcompanyoftheCompany'sparentcompany

ShenzhenSDGHuariAutomobileEnterpriseCo.,Ltd.	Subsidiarypreviouslycontrolledwithin12months
ISSTechInformationTechnologyCo.,Ltd.	ControlledsubsidiaryoftheCompany'sparentcompany

5.Informationofrelatedtransactions

(1)Relatedtransactionsofpurchase/salesofcommoditiesandrendering/receivingoflaborservices

Informationonpurchaseofcommodities/receiptoflaborservicesUnit:RMB

Relatedparty	Contentofrelatedpartytransaction	Amountincurredinthecurrentperiod	Approvedtransactionamount	Exceedingthetransactionamountornot	Amountincurredinthepreviousperiod
ShenzhenSDGServiceCo.,Ltd.	Receivinglaborservices	10,111,049.17	40,220,000.00	No	6,681,836.37
ShenzhenSDGTellusPropertyManagementCo.,Ltd.	Receivinglaborservices	872,337.13	1,980,000.00	No	1,782,277.76
ShenzhenSDGBuildingTechnologyCo.,Ltd.	Receivinglaborservices	135,849.06
ShenzhenZHLIndustrialCo.,Ltd.	Receivinglaborservices	412,229.08			1,863,167.50
ShenzhenZhiguJinyunTechnologyCo.,Ltd.	Purchasinggoods	3,274.32
ShenzhenYuepengjinJewelryCo.,Ltd.	Receivinglaborservices	40,625.67			61,212.43
ShenzhenSDGEngineeringManagementCo.,Ltd.	Receivinglaborservices	120,000.00	1,400,000.00	No	671,200.00
ShenzhenZhiguJinyunTechnologyCo.,Ltd.	Softwareusagefees	0.00			1,248,224.49
GuorenProperty&CasualtyInsuranceCo.,Ltd.	Purchasingservices	232,830.19	800,000.00	No
ShenzhenWahlaiDecoration&FurnitureCo.,Ltd.	Receivinglaborservices	7,474,168.85			7,373,982.82

InformationonSalesofCommodities/ProvisionofLaborServicesUnit:RMB

Relatedparty	Contentofrelatedpartytransaction	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
BeijingCaishikouDepartmentStoreCo.,Ltd.	Salesofgoods	3,391,541.93
ShenzhenNiubisiJewelryTradingCo.,Ltd.	Renderinglaborservices	0.00	1,897,096.53
ShenzhenZHLIndustrialCo.,Ltd.	Renderinglaborservices	339,874.20	44,150.94

ShenzhenYuepengjinE-commerceCo.,Ltd.	Salesofgoods	66,320,646.02	79,086,389.48
ShenzhenSDGTellusPropertyManagementCo.,Ltd.	Renderinglaborservices		1,126.55
ShenzhenSpecialEconomicZoneDevelopmentGroupCo.,Ltd.	Renderinglaborservices		7,244.25
ShenzhenTelixingInvestmentCo.,Ltd.	Renderinglaborservices	283,018.88

(2)Informationofrelatedlease

TheCompanyasthelessor:

Unit:RMB

Nameofthelessee	Typeofassetsleased	Leaseincomerecognizedinthecurrentperiod	Leaseincomerecognizedinthepreviousperiod
ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.	Houseleasing	2,595,238.09	2,725,000.00
ShenzhenSDGServiceCo.,Ltd.	Houseleasing	1,309,654.02	1,150,990.47
ShenzhenSDGTellusPropertyManagementCo.,Ltd.	Houseleasing	82,730.47	65,730.00
ShenzhenSDGMicrofinanceCo.,Ltd.	Houseleasing	610,182.85	604,295.03
ShenzhenYongtongXindaTestingEquipmentCo.,Ltd.	Houseleasing	8,400.00	16,000.00
ShenzhenYuepengjinJewelryCo.,Ltd.	Houseleasing	1,116,635.87	1,199,121.84

(3)Remunerationofkeymanagementpersonnel

Unit:RMB

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Remunerationofkeymanagementpersonnel	2,201,400.00	4,131,300.00

6.Receivablesandpayablesbyrelatedparties

(1)Receivables

Unit:RMB

Projectname	Relatedparty	Period-endbalance		Period-beginningbalance
		Bookbalance	Bad-debtprovision	Bookbalance	Bad-debtprovision
Accountsreceivable	ShenzhenYuepengjinE-commerceCo.,Ltd.	19,649,000.00	196,490.00
Accountsreceivable	BeijingCaishikouDepartmentStore	409,309.20	4,093.09	656,267.50	6,562.68

	Co.,Ltd.
Accountsreceivable	ShenzhenNiubisiJewelryTradingCo.,Ltd.	0.00	0.00	246,015.46	2,460.15
Accountsreceivable	ShenzhenSDGTellusPropertyManagementCo.,Ltd.	127.66	1.28	127.66	1.28
Accountsreceivable	ShenzhenSDGMicrofinanceCo.,Ltd.	18,420.25	1,421.12	142,112.35	1,421.12
Accountsreceivable	ShenzhenYuepengjinJewelryCo.,Ltd.	1,640,346.94	14,019.96	1,401,995.50	14,019.96
Prepayments	ShenzhenSDGEngineeringManagementCo.,Ltd.	21,226.42	0.00	21,226.42
Prepayments	ShenzhenBranchofGuorenPropertyandCasualtyInsuranceCo.,Ltd.	42,767.29	0.00
Prepayments	ISSTechInformationTechnologyCo.,Ltd.	593,247.17	0.00
Otherreceivables	ShenzhenSDGTellusElectronicsCo.,Ltd.	23,852.64	23,852.64	23,852.64	23,852.64
Otherreceivables	ShenzhenTellusAutomobileServiceChainCo.,Ltd.	1,359,297.00	1,359,297.00	1,359,297.00	1,359,297.00
Otherreceivables	ShenzhenXiandaoNewMaterialsCo.,Ltd.	660,790.09	660,790.09	660,790.09	660,790.09
Otherreceivables	ShenzhenTellusXinyongtongAutomobileServiceCo.,Ltd.	114,776.33	114,776.33	114,776.33	114,776.33
Otherreceivables	ShenzhenSDGLimingOptoelectronics(Group)Co.,Ltd.	2,886.00	2,886.00	2,886.00	2,886.00
Otherreceivables	ShenzhenSDGTellusPropertyManagementCo.,Ltd.	33,318.36	1,473.18	33,318.36	1,473.18
Otherreceivables	ShenzhenYongtongXindaTestingEquipmentCo.,Ltd.	531,882.24	531,882.24	531,882.24	531,882.24
Otherreceivables	ShenzhenTelixingInvestmentCo.,Ltd.	195,430.93	2,595.66	259,566.39	2,595.66
Otherreceivables	ShenzhenZHL	566,013.23	5,660.13	2,607,443.00	26,074.43

	IndustrialCo.,Ltd.
Long-termreceivables	ShenzhenTellusAutomobileServiceChainCo.,Ltd.	6,146,228.91	6,146,228.91	6,146,228.91	6,146,228.91

(2)Payables

Unit:RMB

Projectname	Relatedparty	Period-endbookbalance	Period-beginningbookbalance
Accountspayable	ShenzhenSDGRealEstateCo.,Ltd.		6,054,855.46
Accountspayable	ShenzhenMachinery&EquipmentImport&ExportCo.,Ltd.	45,300.00	45,300.00
Accountspayable	ShenzhenSDGTellusPropertyManagementCo.,Ltd.	263,224.88	336,533.57
Accountspayable	ShenzhenZHLIndustrialCo.,Ltd.	32,639.21	212,993.43
Accountspayable	ShenzhenYuepengjinJewelryCo.,Ltd.	21,100.00	20,680.00
Accountspayable	ShenzhenWahlaiDecoration&FurnitureCo.,Ltd.	5,578,143.86	334,493.34
Accountspayable	ShenzhenSDGServiceCo.,Ltd.	5,828,787.92	3,368,791.51
Accountspayable	ShenzhenSDGEngineeringManagementCo.,Ltd.	4,000.00	79,000.00
Accountspayable	ShenzhenZhiguJinyunTechnologyCo.,Ltd.	45,652.00	53,714.23
Advancesfromcustomers	ShenzhenSDGEngineeringManagementCo.,Ltd.		21,226.42
Otherpayables	ShenzhenSDGMicrofinanceCo.,Ltd.	237,804.66	237,804.66
Otherpayables	ShenzhenSDGServiceCo.,Ltd.	40,992.00	40,992.00
Otherpayables	ShenzhenYuepengjinJewelryCo.,Ltd.	388,102.00
Otherpayables	ShenzhenTorchSparkPlugIndustryCo.,Ltd.		2,000.00
Otherpayables	ShenzhenYongtongXindaTestingEquipmentCo.,Ltd.		5,602.99
Otherpayables	ShenzhenTellusAutomobileServiceChainCo.,Ltd.		800.00
Otherpayables	ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.	833,334.00	833,334.00
Otherpayables	ShenzhenSDGTellusPropertyManagementCo.,Ltd.	15,841.59	15,841.59
Otherpayables	ShenzhenSpecialEconomicZoneDevelopmentGroupCo.,Ltd.		3,000.00
Otherpayables	ShenzhenTellusYangchunRealEstateCo.,Ltd.	476,217.49	476,217.49

Otherpayables	ShenzhenMachinery&EquipmentImport&ExportCo.,Ltd.	1,554,196.80	1,554,196.80
Otherpayables	ShenzhenWahlaiDecoration&FurnitureCo.,Ltd.		401,140.08
Otherpayables	ShenzhenSDGEngineeringManagementCo.,Ltd.		149,338.46
Otherpayables	ShenzhenSDGHuariAutomobileEnterpriseCo.,Ltd.	11,436,392.71	11,436,392.71
Otherpayables	HongkongYujiaInvestmentLimited	2,146,404.58	2,146,404.58
Otherpayables	ShenzhenSDGTianeIndustrialCo.,Ltd.	23,930.50	23,930.50
Otherpayables	ShenzhenLonggangTellusRealEstateCo.,Ltd.	1,095,742.50	1,095,742.50

XIV.CommitmentsandContingencies

1.Importantcommitments

ImportantcommitmentsexistingonthebalancesheetdateNone

2.Contingencies

(1)ImportantcontingenciesexistingonthebalancesheetdateNone

(2)Incaseofnoimportantcontingenciestobedisclosed,adescriptionshallbegivenTheCompanyhasnoimportantcontingenciestobedisclosed.XV.MattersaftertheBalanceSheetDate

1.DescriptionofothermattersafterthebalancesheetdateNone

XVI.OtherSignificantMatters

1.Segmentedinformation

(1)DeterminationbasisandaccountingpolicyofreportingsegmentsAccordingtotheCompany'sinternalorganizationalstructure,managementrequirements,andinternalreportingsystem,thebusinessoftheCompanyisdividedintofourreportingsegments.ThesereportingsegmentsaredeterminedbasedonthefinancialinformationrequiredbytheCompany'sdailyinternalmanagement.The

Group'smanagementregularlyevaluatestheoperatingresultsofthesereportingsegmentstodeterminetheallocationofresourcestothemandevaluatetheirperformance.ThereportingsegmentsoftheCompanyinclude:

(1)Leasingandservices,realestate,andcommercialrealestateleasing;

(2)Jewelrysalesandservices,andwholesaleandretailofgoldandjewelry.Thesegmentreportinginformationisdisclosedaccordingtotheaccountingpolicyandmeasurementstandardadoptedwheneachsegmentreportstothemanagement,andtheaccountingpolicyandmeasurementbasisareincorrespondencewiththoseofformulatingfinancialstatements.

(2)Financialinformationofreportingsegments

Unit:RMB

Item	Wholesaleandretailofjewelry	Leasingandservices	Others	Offsetamongsegments	Total
Revenuefrommainbusiness	1,441,734,815.25	140,347,039.25	210,884.25	-2,268,989.90	1,580,023,748.85
Costofmainbusiness	1,410,424,605.61	42,635,859.64	0.00	-1,134,474.49	1,451,925,990.76
Totalassets	593,582,257.47	2,942,194,868.97	5,027,865.60	-1,047,576,310.57	2,493,228,681.47
Totalliabilities	306,759,181.09	654,095,668.37	16,184,338.62	-281,029,360.75	696,009,827.33

XVII.NotesforMajorItemsoftheParentCompany'sFinancialStatement

1.Accountsreceivable

(1)DisclosurebyaccountreceivableageUnit:RMB

Accountreceivableage	Period-endbookbalance	Period-beginningbookbalance
Within1year(inclusive)	21,529,222.67	22,182,052.01
1-2years	124,487.53	124,487.53
Over3years	488,163.08	488,163.08
Over5years	488,163.08	488,163.08
Total	22,141,873.28	22,794,702.62

(2)Disclosurebybaddebtaccrualmethod

Unit:RMB

Category	Period-endbalance			Period-beginningbalance
	Bookbalance	Bad-debtprovision	Bookvalue	Bookbalance	Bad-debtprovision	Bookvalue

Amount

Amount

Proportion

Amount

Provisionproportion

Amount

Proportion

Amount

Provisionproportion

Accountsreceivablewithprovisionforbaddebtsonasinglebasis	484,803.08	2.19%	484,803.08	100.00%	0.00	484,803.08	2.13%	484,803.08	100.00%
Including:
Accountsreceivableforwhichprovisionforbaddebtsismadebyportfolio	21,657,070.20	97.81%	229,707.30	1.06%	21,427,362.90	22,309,899.54	97.87%	229,707.30	1.03%	22,080,192.24
Including:
1.Accountreceivableageportfolio	21,657,070.20	97.81%	229,707.30	1.06%	21,427,362.90	22,309,899.54	97.87%	229,707.30	1.03%	22,080,192.24
Total	22,141,873.28	100.00%	714,510.38	3.23%	21,427,362.90	22,794,702.62	100.00%	714,510.38	3.13%	22,080,192.24

Categorynameofbaddebtprovisionmadeonanindividualbasis:

Unit:RMB

Name	Period-beginningbalance		Period-endbalance
	Bookbalance	Bad-debtprovision	Bookbalance	Bad-debtprovision	Provisionproportion	Reasonsforprovision
ShenzhenBijiashanEntertainmentCo.,Ltd.	172,000.00	172,000.00	172,000.00	172,000.00	100.00%	Overlongaccountreceivableage;expectedtobeunrecoverable
GongYanqing	97,806.64	97,806.64	97,806.64	97,806.64	100.00%	Overlongaccountreceivableage;expectedtobeunrecoverable
GuangzhouLeminComputerCenter	86,940.00	86,940.00	86,940.00	86,940.00	100.00%	Overlongaccountreceivableage;expectedtobeunrecoverable
Others	128,056.44	128,056.44	128,056.44	128,056.44	100.00%	Overlongaccountreceivableage;expectedtobe

						unrecoverable
Total	484,803.08	484,803.08	484,803.08	484,803.08

Categorynameofbaddebtprovisionmadeonaportfoliobasis:

Unit:RMB

Name	Period-endbalance
	Bookbalance	Bad-debtprovision	Provisionproportion
1.Accountreceivableageportfolio	21,657,070.20	229,707.30	1.06%
Total	21,657,070.20	229,707.30

Explanationofthebasisfordeterminingtheportfolio:

Whethertoaccruebaddebtprovisionofaccountsreceivableaccordingtoexpectedcreditloss:

?Applicable□NotapplicableUnit:RMB

Bad-debtprovision	StageI	StageII	StageIII	Total
	Expectedcreditlossesforthenext12months	Expectedcreditlossthroughouttheduration(nocreditimpairmentoccurs)	Expectedcreditlossthroughouttheduration(creditimpairmenthasoccurred)
BalanceonJanuary1,2024	229,707.30		484,803.08	714,510.38
BalanceonJanuary1,2024inthecurrentperiod
BalanceasofJune30,2024	229,707.30		484,803.08	714,510.38

(3)Baddebtprovisionprovided,recovered,orreversedinthecurrentperiod

Baddebtprovisioninthereportingperiod:

Unit:RMB

Category	Period-beginningbalance	Amountofchangeduringthecurrentperiod				Period-endbalance
		Provision	Accountsrecoveredortransferredback	Write-off	Others
Provisionforbaddebtsmadeonanindividualbasis	484,803.08					484,803.08
Provisionforbaddebtsmadeonaportfoliobasis	229,707.30					229,707.30
Total	714,510.38					714,510.38

(4)Accountsreceivableandcontractualassetswithtopfiveendingbalancecollectedaspertheborrowers

Unit:RMB

Companyname	Period-endbalanceofaccountsreceivable	Period-endbalanceofcontractassets	Period-endbalanceofaccountsreceivableandcontractassets	Proportionintotalendingbalanceofaccountsreceivableandcontractualassets	Period-endbalanceofbaddebtproportionofaccountsreceivableandimpairmentprovisionofcontractualassets
ShenzhenSouthwestGoldManagementCenterCo.,Ltd.	1,953,168.77		1,953,168.77	8.82%	20,462.08
ChowSangSang(China)Co.,Ltd.	1,806,504.02		1,806,504.02	8.16%	19,350.61
ShenzhenHelinJewelryCo.,Ltd.	1,192,961.52		1,192,961.52	5.39%	12,867.21
ShenzhenBaijueIndustrialDevelopmentCo.Ltd.	624,335.60		624,335.60	2.82%	4,232.50
ShenzhenXinyufuJewelryCo.,Ltd.	578,894.49		578,894.49	2.61%	6,314.84
Total	6,155,864.40		6,155,864.40	27.80%	63,227.24

2.Otherreceivables

Unit:RMB

Item	Period-endbalance	Period-beginningbalance
Dividendsreceivable	1,305,581.86	1,305,581.86
Otherreceivables	55,062,463.27	46,126,945.18
Total	56,368,045.13	47,432,527.04

(1)Dividendsreceivable

1)CategoryofdividendsreceivableUnit:RMB

Item(ortheinvestee)	Period-endbalance	Period-beginningbalance
ChinaPufaMachineryIndustryCo.,Ltd.	1,305,581.86	1,305,581.86
Total	1,305,581.86	1,305,581.86

2)Dividendsreceivableofimportantaccountreceivableageofover1yearUnit:RMB

Item(ortheinvestee)

Period-endbalance

Accountreceivableage

Reasonfornorecovery

Whetherimpairmenthasoccurredandthebasisfordeterminingimpairment

ChinaPufaMachineryIndustryCo.,Ltd.	1,305,581.86	1-2years	Notpaidyet	ThefinancialandoperatingconditionsoftheCompanyarenormal,andthedividendsreceivablearenotimpaired.
Total	1,305,581.86

(2)Otherreceivables

1)ClassificationofotherreceivablesbynatureUnit:RMB

Natureofpayment	Period-endbookbalance	Period-beginningbookbalance
Othertemporarypaymentsreceivable	18,037,201.93	15,738,436.97
Depositsandsecuritydeposits	1,528,913.96	1,774,070.79
Concernedintercoursefundswithintheconsolidationscopeofreceivables	49,281,994.70	42,400,084.74
Total	68,848,110.59	59,912,592.50

(2)DisclosurebyaccountreceivableageUnit:RMB

Accountreceivableage	Period-endbookbalance	Period-beginningbookbalance
Within1year(inclusive)	52,549,655.62	43,614,137.53
1-2years	1,937,642.51	1,937,642.51
2-3years	643,606.04	643,606.04
Over3years	13,717,206.42	13,717,206.42
3-4years	39,273.66	39,273.66
Over5years	13,677,932.76	13,677,932.76
Total	68,848,110.59	59,912,592.50

3)ClassificationanddisclosurethroughthemethodforrecognizingbaddebtUnit:RMB

Category	Period-endbalance					Period-beginningbalance
	Bookbalance		Bad-debtprovision		Bookvalue	Bookbalance		Bad-debtprovision		Bookvalue
	Amount	Proportion	Amount	Provisionproportion		Amount	Proportion	Amount	Provisionproportion
Provisionforbaddebtsmadeonanindividualbasis	13,644,641.06	19.82%	13,644,641.06	100.00%	0.00	13,644,641.06	22.77%	13,644,641.06	100.00%
Includ

ing:
Provisionforbaddebtsmadeonaportfoliobasis	55,203,469.53	80.18%	141,006.26	0.26%	55,062,463.27	46,267,951.44	77.23%	141,006.26	0.30%	46,126,945.18
Including:
Accountreceivableageportfolio	4,392,560.87	6.38%	72,610.51	1.65%	4,319,950.36	2,093,795.91	3.49%	72,610.51	3.47%	2,021,185.40
Portfolioofdepositandsecuritydepositreceivable	1,528,913.96	2.22%	68,395.75	4.47%	1,460,518.21	1,774,070.79	2.96%	68,395.75	3.86%	1,705,675.04
Relatedintercoursefundswithintheconsolidationscope	49,281,994.70	71.58%	0.00	0.00%	49,281,994.70	42,400,084.74	70.77%			42,400,084.74
Total	68,848,110.59	100.00%	13,785,647.32	20.02%	55,062,463.27	59,912,592.50	100.00%	13,785,647.32	23.01%	46,126,945.18

Categorynameofbaddebtprovisionmadeonanindividualbasis:

Unit:RMB

Name	Period-beginningbalance		Period-endbalance
	Bookbalance	Bad-debtprovision	Bookbalance	Bad-debtprovision	Provisionproportion	Reasonsforprovision
Provisionforbaddebtsmadeonanindividualbasis	13,644,641.06	13,644,641.06	13,644,641.06	13,644,641.06	100.00%	Longaccountreceivableage;expectedtobeunrecoverable
Total	13,644,641.06	13,644,641.06	13,644,641.06	13,644,641.06

Categorynameofbaddebtprovisionmadeonaportfoliobasis:

Unit:RMB

Name	Period-endbalance
	Bookbalance	Bad-debtprovision	Provisionproportion
Accountreceivableageportfolio	4,392,560.87	72,610.51	1.65%
Portfolioofdepositandsecuritydepositreceivable	1,528,913.96	68,395.75	4.47%
Relatedintercoursefundswithintheconsolidationscope	49,281,994.70	0.00	0.00%
Total	55,203,469.53	141,006.26

Accruebaddebtprovisionofaccountsreceivableaccordingtoexpectedcreditloss:

Unit:RMB

Bad-debtprovision	StageI	StageII	StageIII	Total
	Expectedcreditlossesforthenext12months	Expectedcreditlossthroughouttheduration(nocreditimpairmentoccurs)	Expectedcreditlossthroughouttheduration(creditimpairmenthasoccurred)
BalanceonJanuary1,2024	141,006.26		13,644,641.06	13,785,647.32
BalanceonJanuary1,2024inthecurrentperiod
BalanceasofJune30,2024	141,006.26		13,644,641.06	13,785,647.32

Changesinbookbalancewithsignificantamountchangedoflossprovisioninthereportingperiod

□Applicable?Notapplicable

4)Baddebtprovisionprovided,recovered,orreversedinthecurrentperiodBaddebtprovisioninthereportingperiod:

Unit:RMB

Category	Period-beginningbalance	Amountofchangeduringthecurrentperiod				Period-endbalance
		Provision	Accountsrecoveredortransferredback	Write-offorverification	Others
Provisionforbaddebtsmadeonanindividualbasis	13,644,641.06					13,644,641.06
Provisionforbaddebtsmadeonaportfoliobasis	141,006.26					141,006.26
Total	13,785,647.32					13,785,647.32

5)Otherreceivablesofthetopfiveperiod-endbalancesbytheowingpartyUnit:RMB

Companyname	Natureofpayment	Period-endbalance	Accountreceivableage	Proportiontoendingbalanceofotherreceivables	Period-endbalanceofprovisionforbaddebts
ShenzhenTellusTreasurySupplyChainTreasurySupplyChainCompany	IntercoursefundswithintheGroup	46,800,000.00	Within1year	67.98%
ShenzhenZhonghao(Group)Co.,Ltd.	Intercoursefunds	5,000,000.00	Over5years	7.26%	5,000,000.00

ShenzhenJinbeiliElectricApplianceCo.,Ltd.	Intercoursefunds	2,706,983.51	Over5years	3.93%	2,706,983.51
ShenzhenJewelryIndustryServiceCo.,Ltd.	IntercoursefundswithintheGroup	2,334,941.11	Within1year	3.39%
ShenzhenPetrochemical(Group)Co.,Ltd.	Intercoursefunds	1,923,910.07	Over5years	2.79%	1,923,910.07
Total		58,765,834.69		85.35%	9,630,893.58

3.Long-termequityinvestment

Unit:RMB

Item	Period-endbalance			Period-beginningbalance
	Bookbalance	Impairmentprovision	Bookvalue	Bookbalance	Impairmentprovision	Bookvalue
Investmentinsubsidiaries	693,657,847.64	1,956,000.00	691,701,847.64	696,131,539.12	1,956,000.00	694,175,539.12
Investmentinassociatesandjointventures	91,177,767.29	9,787,162.32	81,390,604.97	86,298,649.89	9,787,162.32	76,511,487.57
Total	784,835,614.93	11,743,162.32	773,092,452.61	782,430,189.01	11,743,162.32	770,687,026.69

(1)Investmentsinsubsidiaries

Unit:RMB

Investee	Period-beginningbalance(bookvalue)	Period-beginningbalanceofimpairmentprovision	Changesinthecurrentperiod				Period-endbalance(bookvalue)	Period-endbalanceofimpairmentprovision
			Additionalinvestment	Reducedinvestment	Provisionforimpairment	Others
ShenzhenSDGTellusRealEstateCo.,Ltd.	31,152,888.87						31,152,888.87
ShenzhenTellusChuangyingTechnologyCo.,Ltd.	3,000,000.00			2,473,691.48			526,308.52
ShenzhenTellusXinyongtongAutomobileDevelopmentCo.,Ltd.	2,883,644.26						2,883,644.26
ShenzhenZhongtianIndustry	369,680,522.90						369,680,522.90

Co.,Ltd.
ShenzhenAutomobileIndustryandTradeCo.,Ltd.	126,251,071.57					126,251,071.57
ShenzhenSDGHuariAutomobileEnterpriseCo.,Ltd.						0.00
ShenzhenHuariToyotaSales&ServiceCo.,Ltd.	1,807,411.52					1,807,411.52
ShenzhenXinyongtongMotorVehicleInspectionEquipmentCo.,Ltd.	4,900,000.00					4,900,000.00
ShenzhenTellusTreasurySupplyChainTreasurySupplyChainCompany	50,000,000.00					50,000,000.00
ShenzhenHanliHighTechCeramicsCo.,Ltd.		1,956,000.00				0.00	1,956,000.00
ShenzhenJewelryIndustryServiceCo.,Ltd.	32,500,000.00					32,500,000.00
GuorunGoldShenzhenCo.,Ltd.	72,000,000.00					72,000,000.00
Total	694,175,539.12	1,956,000.00		2,473,691.48		691,701,847.64	1,956,000.00

(2)Investmentsinassociatesandjointventures

Unit:RMB

Investor

Period-

Period-

Changesinthecurrentperiod

Period-end

Period-end

Additi

Reduc

Invest

Adjust

Chang

Cash

Provisi

Others

	beginningbalance(bookvalue)	beginningbalanceofimpairmentprovision	onalinvestment	edinvestment	mentprofitorlossrecognizedthroughtheequitymethod	menttoothercomprehensiveincome	esinotherequity	dividendorprofitdeclaredtobedistributed	onforimpairment		balance(bookvalue)	balanceofimpairmentprovision
I.Jointventures
ShenzhenTellus-GmondInvestmentCo.,Ltd.	49,250,845.06				7,279,833.26			15,000,000.00			41,530,678.32
ShenzhenTelixingInvestmentCo.,Ltd.	13,302,311.60				156,037.06			0.00			13,458,348.66
Subtotal	62,553,156.66				7,435,870.32			15,000,000.00			54,989,026.98
II.Associates
ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.	13,958,330.91				12,443,247.08						26,401,577.99
HunanChangyangIndustrialCo.,Ltd.		1,810,540.70										1,810,540.70
ShenzhenJiechengElectronicsCo.,Ltd.		3,225,000.00										3,225,000.00
Shenzhen		4,751,621.62										4,751,621.62

XiandaoNewMaterialsCo.,Ltd.
Subtotal	13,958,330.91	9,787,162.32		12,443,247.08				26,401,577.99	9,787,162.32
Total	76,511,487.57	9,787,162.32		19,879,117.40		15,000,000.00		81,390,604.97	9,787,162.32

Whethertherecoverableamountisdeterminedaccordingtothenetamountwithfairvaluedeductingdisposalexpenses?

□Applicable?NotapplicableWhethertherecoverableamountisdeterminedaccordingtothepresentvalueoftheexpectedfuturecashflow?

□Applicable?Notapplicable

4.Operatingrevenueandoperatingcost

Unit:RMB

Item	Amountincurredinthecurrentperiod		Amountincurredinthepreviousperiod
	Revenue	Costs	Revenue	Costs
Mainbusiness	55,668,957.83	21,857,801.26	34,050,043.81	14,948,857.82
Total	55,668,957.83	21,857,801.26	34,050,043.81	14,948,857.82

Informationrelatedtotransactionvalueassignedtoresidualperformanceobligations:

Asoftheendofthereportingperiod,theamountofrevenuecorrespondingtoperformanceobligationsforcontractsthathavebeensignedbutnotyetfulfilledorcompletedisRMB.Amongthis,RMBisexpectedtoberecognizedasrevenueduringtheyearofRMBisasrevenuefor,andRMBisasrevenuefor.

5.Investmentincome

Unit:RMB

Item	Amountincurredinthecurrentperiod	Amountincurredinthepreviousperiod
Long-termequityinvestmentincomecalculatedthroughthecostmethod	71,225,000.00
Incomefromlong-termequityinvestmentscalculatedthroughtheequitymethod	19,879,117.40	3,011,611.29
Investmentincomefromtradingfinancialassetsduringtheholdingperiod	2,162,425.56	7,437,966.44
Interestincomefromlarge-sumcertificatesofdeposit	1,589,244.45
Total	94,855,787.41	10,449,577.73

XVIII.SupplementaryInformation

1.Breakdownofnon-recurringprofitsandlossesofthecurrentperiod?Applicable□Notapplicable

Unit:RMB

Item	Amount	Note
Profitsandlossesfromdisposalofnon-currentassets	-227.20	Disposaloffixedassets
Governmentsubsidiesincludedinthecurrentprofitsandlosses(excludingthosethatarecloselyrelatedtotheCompany'snormalbusinessoperations,inlinewithnationalpoliciesandregulations,andgrantedperdefinedcriteria,withacontinuousinfluenceontheCompany'sprofitsandlosses)	5,606,545.82	Governmentsubsidy
ProfitorlossfromchangesinthefairvalueoffinancialassetsandfinancialliabilitiesheldbytheCompanyasanon-financialcompany,aswellasprofitorlossfromthedisposalofthefinancialassetsandfinancialliabilities,exceptineffectivehedgingactivitiesrelatedtothenormaloperatingactivitiesoftheCompany.	2,373,536.49	Mainlyfrommoneymanagementreturns
Othernon-operatingincomesandexpendituresapartfromtheaforesaiditems	1,004,694.78	Primarilyconsistsofleasecontractmodificationfeesandpenaltiesforlessees'earlyterminationofleases
Less:Amountofinfluenceofincometax	2,237,809.41
Amountofinfluenceofminoritystockholder'sinterests(after-tax)	539,047.10
Total	6,207,693.38	--

Othergainsorlossesconformingtothedefinitionofnon-recurringgainsorlosses:

□Applicable?NotapplicableTheCompanyhasnoothergainsorlossesconformingtothedefinitionofnon-recurringgainsorlosses.Explanationondefiningthenon-recurringgainsorlossessetoutintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingSecuritiestothePublic—Non-RecurringGainsorLossesasrecurringgainsorlosses

□Applicable?Notapplicable

2.Returnonnetassetsandearningspershare

Profitduringthereportingperiod	WeightedaverageROE	Earningspershare
		Basicearningspershare(RMB/share)	Dilutedearningspershare(RMB/share)
NetprofitattributabletoordinaryshareholdersoftheCompany	4.66%	0.1778	0.1778
NetprofitattributedtoordinaryshareholdersoftheCompanyafternon-recurringprofitsandlossesarededucted	4.28%	0.1634	0.1634

3.Differenceinaccountingdataunderdomesticandforeignaccountingrules

(1)DifferencesinnetprofitsandnetassetsinthefinancialreportsdisclosedsimultaneouslyaccordingtotheinternationalaccountingstandardsandChineseaccountingstandards

□Applicable?Notapplicable

(2)DifferencesinnetprofitsandnetassetsinthefinancialreportsdisclosedsimultaneouslyaccordingtotheforeignaccountingstandardsandChineseaccountingstandards

□Applicable?Notapplicable

(3)Specifythereasonsfordifferencesinaccountingdataunderdomesticandforeignaccountingstandards;iftheadjustmentismadetodataauditedbytheoverseasauditfirm,specifythenameoftheauditfirm