SHENZHENCEREALSHOLDINGSCO.,LTD.
SEMI-ANNUALREPORT2024
【August2024】
SectionI.ImportantNotice,ContentsandInterpretation
BoardofDirectors,theboardofsupervisors,alldirectors,supervisorsandseniorexecutivesofSHENZHENCEREALSHOLDINGSCO.,LTD.herebyconfirmthattherearenoanyfictitiousstatements,misleadingstatements,orimportantomissionscarriedinthisreport,andshalltakeallresponsibilities,individualand/orjoint,forthereality,accuracyandcompletionofthewholecontents.PrincipaloftheCompanyWangZhikai,HeadofAccountingLuYuheandHeadofAccountingInstitution(AccountingSupervisor)LuChengjunherebyconfirmthattheFinancialReportofSemi-AnnualReport2024isauthentic,accurateandcomplete.AllDirectorshaveattendedtheboardmeetingfordeliberationofthisReport.Concerningtheforward-lookingstatementswithfutureplanninginvolvedintheannualreport,theydonotconstituteasubstantialcommitmentforinvestors.SecuritiesTimes,ChinaSecuritiesJournal,ShanghaiSecuritiesJournalandtheCNINFOwebsite(www.cninfo.com.cn)arethemediaappointedbytheCompanyforinformationdisclosure.AllinformationoftheCompanydisclosedintheabovementionedmediashouldprevail.Investorsareadvisedtoexercisecautionofinvestmentrisks.TheCompanyhasanalyzedtheriskfactorsthattheCompanymayexistanditscountermeasuresinthereport.Investorsareadvisedtopayattentiontoread“Risksfacedbythecompanyandcorrespondingmeasures”inthereportofSectionIII“ManagementDiscussionandAnalysisoftheOperation”.ThisreporthasbeenpreparedinChineseandEnglishversionrespectively.Intheeventofdifferenceininterpretationbetweenthetwoversions,Chinesereportshallprevail.TheCompanyhasnoplanofcashdividenddistributed,nocashbonusandcapitalizingofcommonreserveseithercarriedout.
Content
SectionI.ImportantNotice,ContentsandInterpretation............................................................................................2
SectionIICompanyProfileandMainFinancialIndexes ...... 6
SectionIIIManagementDiscussionandAnalysisoftheOperation ...... 9
SectionIVCorporateGovernance ...... 22
SectionV.EnvironmentalandSocialResponsibility................................................................................................23
SectionVI.ImportantEvents.....................................................................................................................................25
SectionVII.ChangesinSharesandParticularsaboutShareholders.........................................................................29
SectionVIII.PreferredStock......................................................................................................................................34
SectionIX.CorporateBonds......................................................................................................................................35
SectionX.FinancialReport........................................................................................................................................36
DocumentsAvailableforReference
1.Textoffinancialstatementwithsignatureandsealsoflegalperson,personinchargeofaccountingworksandpersoninchargeofaccountinginstitution;
2.Originalandofficialcopiesofalldocumentswhichhavebeendisclosedinthereportingperiod;
3.Originalcopiesofsemi-annualreport2024withsignatureofthecompany’sprincipal.
Interpretation
| Items | Refersto | Contents |
| SZCH/ListedCompany/theCompany/ | Refersto | ShenzhenCerealsHoldingsCo.,Ltd. |
| SZCG | Refersto | ShenzhenCerealsGroupCo.,Ltd |
| Doximi | Refersto | ShenzhenShenliangDoximiBusinessCo.,Ltd. |
| ShenzhenFlour,FlourCompany | Refersto | ShenzhenFlourCo.,Ltd |
| ShenliangQualityInspection | Refersto | ShenliangQualityInspectionCo.,Ltd. |
| DongguanLogistics | Refersto | DongguanShenliangLogisticsCo.,Ltd. |
| ShenbaoHuacheng | Refersto | ShenzhenShenbaoHuachengTechnologyCo.,Ltd. |
| HualianCompany | Refersto | ShenzhenHualianGrainandOilTradingCo.,Ltd. |
| ShenliangColdChain | Refersto | ShenzhenShenliangColdChainLogisticsCo.,Ltd. |
| ShenliangProperty | Refersto | ShenzhenShenliangPropertyDevelopmentCo.,Ltd. |
| SZCHBig,BigKitchen | Refersto | ShenzhenShenliangBigKitchenFoodSupplyChainCo.,Ltd |
| GrainandOilPurchaseandSalesBranch | Refersto | GrainandOilPurchaseandSalesBranchofShenzhenCerealsGroupCo.,Ltd |
| DongguanOil&Food | Refersto | DongguanShenliangOil&FoodTradeCo.,Ltd. |
| ShenliangColdTransport | Refersto | ShenzhenShenliangColdTransportCo.,Ltd. |
| ShenshenbaoInvestment | Refersto | ShenzhenShenshenbaoInvestmentCo.,Ltd |
| ShenzhenShenliangFood | Refersto | ShenzhenShenliangFoodCo.,Ltd. |
| Zhenpin | Refersto | ZhenpinMarketOperationTechnologyCo.,Ltd. |
| WuhanJiacheng | Refersto | WuhanJiachengBiotechnologyCo.,Ltd |
| ShenzhenAgriculturalPowerGroup/FoodMaterialGoup/FoodGroup/FudeCapital | Refersto | ShenzhenAgriculturalPowerGroupCo.,Ltd.,originallynamedShenzhenFoodMaterialsGroupCo.,Ltd,ShenzhenFoodGroupCo.,Ltd,andShenzhenFudeStateCapitalOperationCo.,Ltd.,isthecontrollingshareholderofthecompany |
| AgriculturalProducts | Refersto | ShenzhenAgriculturalProductsGroupCo.,Ltd |
| SIHC | Refersto | ShenzhenInvestmentHoldingsCo.,Ltd. |
| ShenzhenSASAC | Refersto | ShenzhenMunicipalPeople’sGovernmentState-ownedAssetsSupervision&AdministrationCommission |
| CSRC | Refersto | ChinaSecuritiesRegulationCommission |
| SSE | Refersto | ShenzhenStockExchange |
| GrantThorntonCPAs | Refersto | GrantThorntonCertifiedPublicAccountantLLP(SpecialGeneralPartnership) |
| ArticleofAssociation | Refersto | ArticleofAssociationofShenzhenCerealsHoldingsCo.,Ltd. |
| RMB/10thousandYuan | Refersto | CNY/tenthousandYuan |
SectionIICompanyProfileandMainFinancialIndexesI.Companyinformation
| Shortformforshare | SZCH,ShenliangB | Stockcode | 000019,200019 |
| Shortformofsharebeforechange(ifapplicable) | Shenshenbao,ShenbaoB | ||
| Listingstockexchange | ShenzhenStockExchange | ||
| ChinesenameoftheCompany | 深圳市深粮控股股份有限公司 | ||
| Abbr.ofChinesenameoftheCompany | 深粮控股 | ||
| EnglishnameoftheCompany(ifapplicable) | SHENZHENCEREALSHOLDINGSCO.,LTD | ||
| LegalRepresentative | WangZhikai | ||
II.Person/Waytocontact
| SecretaryoftheBoard | Rep.ofsecurityaffairs | |
| Name | ChenXiaohua | ChenKaiyue,LiuMuya |
| Contactadd. | 13/F,TowerA,WorldTradePlaza,No.9FuhongRd.,FutianDistrict,Shenzhen | 13/F,TowerA,WorldTradePlaza,No.9FuhongRd.,FutianDistrict,Shenzhen |
| Tel. | 0755-83778690 | 0755-83778690 |
| Fax. | 0755-83778311 | 0755-83778311 |
| 000019@slkg1949.com | chenky@slkg1949.com,liumy@slkg1949.com |
III.Otherinformation
1.CompanycontactinformationHastheregisteredaddress,officeaddress,postalcode,website,emailaddress,etc.ofthecompanychangedduringthereportingperiod?
□Applicable?NotapplicableTheregisteredaddress,officeaddress,postalcode,website,andemailaddressofthecompanyremainedunchangedduringthereportingperiod.Pleaserefertothe2023annualreportfordetails.
2.InformationdisclosureandlocationHastheinformationdisclosureandlocationchangedduringthereportingperiod?
□Applicable?NotapplicableThewebsiteandmedianameandwebsiteofthestockexchangewherethecompanydiscloseditssemi-annualreport,andtheplaceofplacementofthecompany’ssemi-annualreportremainsunchangedduringthereportingperiod,asdetailedinthe2023annualreport.
3.OtherrelevantinformationIsthereanychangeinotherrelevantinformationduringthereportingperiod?
□Applicable?Notapplicable
IV.MainaccountingdataandfinancialindexesIstheCompanyrequiredtoretrospectivelyadjustorrestateprioryear’saccountingdata?
□Yes?No
| Amountincurrentperiod | Amountinlastperiod | Year-on-yearincrease(+)/decrease(-) | |
| Operatingincome(RMB) | 2,416,452,919.61 | 2,831,996,801.82 | -14.67% |
| NetprofitattributabletoshareholdersofthelistedCompany(RMB) | 129,030,850.78 | 168,149,768.31 | -23.26% |
| NetprofitattributabletoshareholdersofthelistedCompanyafterdeductingnon-recurringgains/losses(RMB) | 116,892,371.77 | 159,103,953.25 | -26.53% |
| Netcashflowarisingfromoperatingactivities(RMB) | -158,531,444.41 | 83,503,352.21 | -289.85% |
| Basicearningspershare(RMB/Share) | 0.1120 | 0.1459 | -23.24% |
| Dilutedearningspershare(RMB/Share) | 0.1120 | 0.1459 | -23.24% |
| WeightedaverageROE | 2.64% | 3.47% | -0.83% |
| Endingbalanceofcurrentperiod | Endingbalanceoflastperiod | Year-on-yearincrease(+)/decrease(-) | |
| Totalassets(RMB) | 7,390,257,559.37 | 7,398,528,190.94 | -0.11% |
| Netassetsattributabletoshareholderoflistedcompany(RMB) | 4,723,330,417.23 | 4,824,452,103.84 | -2.10% |
V.DifferenceoftheaccountingdataunderaccountingrulesinandoutofChina
1.Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothIAS(InternationalAccountingStandards)andChineseGAAP(GenerallyAcceptedAccountingPrinciples)?Applicable□Notapplicable
Unit:RMB/CNY
| NetprofitattributabletoshareholdersofthelistedCompany | NetassetsattributabletoshareholderoflistedCompany | |||
| Currentperiod | Lastperiod | Endingamount | Openingamount | |
| ChineseGAAP | 168,149,768.31 | 237,527,782.93 | 4,643,162,339.43 | 4,762,973,461.81 |
| ItemsandamountadjustedbyIAS | ||||
| Adjustmentforotherpayablefundofstockmarketregulation | 1,067,000.00 | 1,067,000.00 | ||
| IAS | 168,149,768.31 | 237,527,782.93 | 4,644,229,339.43 | 4,764,040,461.81 |
2.Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothforeignaccountingrulesandChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable?NotapplicableTheCompanyhasnoabovementionedconditionoccurredintheperiod
VI.Itemsandamountsofnon-recurringgains/losses
?Applicable□Notapplicable
InRMB
| Item | Amount | Note |
| Gains/lossesfromthedisposalofnon-currentasset(includingthewrite-offthataccruedforimpairmentofassets) | 6,786,562.53 | |
| Governmentalsubsidyreckonedintocurrentgains/losses(exceptforthosewithnormaloperationbusinessconcerned,andconformtothenationalpolicies®ulationsandareenjoyedaccordingtocertainstandard,andhavingacontinuousimpactonthecompany’sgains/losses) | 5,536,754.37 | |
| Gains/lossesofassetsdelegationonothers’investmentormanagement | 3,933,789.27 | |
| Reversalofprovisionofimpairmentofaccountsreceivablewhicharetreatedwithseparatedepreciationtest | 435.73 | |
| Othernon-operatingincomeandexpenditureexceptfortheaforementioneditems | -158,397.83 | |
| Less:impactonincometax | 3,552,532.61 | |
| Impactonminorityshareholders’equity(after-tax) | -2,148.29 | |
| Total | 12,548,759.75 |
Othergains/lossesitemsthatconformtothedefinitionofnon-recurringgains/losses:
□Applicable?NotapplicableTheCompanydoesnothaveothergains/lossesitemsthatconformtothedefinitionofnon-recurringgains/losses.Informationonthedefinitionofnon-recurringgains/losseslistedintheQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---Non-recurringGains/LossesastheRecurringGains/Losses
□Applicable?NotapplicableTheCompanydoesnothaveanynon-recurringgains/losseslistedintheQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---Non-recurringGains/LossesastheRecurringGains/Losses.
SectionIIIManagementDiscussionandAnalysisofthe
Operation
I.MainbusinessesoftheCompanyduringthereportingperiod
MainbusinessoftheCompanyincludesthewholesaleandretailbusiness,foodprocessingandmanufacturingbusiness,leasingandcommerceservicebusiness.Thewholesaleandretailbusinessaremainlyrice,wheat,riceinthehusk,corn,sorghum,cookingoilandothervarietiesofgrainandoilaswellasthesalesoffinetea,beverageandcondiment.Duringthereportingperiod,thecompanyovercamemanyadversefactorssuchasdeclineinmarketdemandandfluctuationofgrainprice,tookmultiplemeasurestoensuresupplyandstablesupply,andcontinuedtooptimizetheproducts,strengthenthebrandandexpandthemarket.Mainlysuppliedwheat,rice,corn,barley,sorghumandotherrawgraintocustomerssuchastheindustry'slargetraders,feedprocessingandflourprocessingenterprises;mainlysoldrice,flour,cookingoil,high-qualitytea,beveragesandotherproductstodemandunitsandcommunityresidents.Foodprocessingandmanufacturingbusinessaremainlytheprocessingandthetechnologyresearchinaspectofflour,rice,cookingoil,teaandnaturalplantextracts,beverageandcondimentsetc.Thecompany’sflourbrandsandproductsinclude“Jinchangman”,“Yingshanhong”and“Hongli”seriesbreadflour;“Clivia”and“Canna”seriestailoredflourforcakesandsteamedbun;“Sunflower”wheatflourfornoodlesandcookieflour;“Tianlvxiang”wheatflourforbread,refinedflouranddumplingflouretc.;Riceproductsinclude“ShenliangDoximi”,“Guzhixiang”,“Gufengxianman”,“Runxiangliangpin”,“Hexiang”and“TaitaiFukou”.Cookingoilproductsincludebrandssuchas“ShenliangFuxi”,“ShenliangJinxi”and“Youtian”.Teabrandsmainlyinclude“JuFangYong”tea;“Yichong”freshextract,“Jindiao”instantteapowderandotherteadeep-processedproducts,aswellas“Shenbao”chrysanthemumtea,lemontea,and“ChaMiXiangQi”andotherseriesofteadrinks.Condimentsaremainly“Sanjing”oystersauceandsauces.Severalbrandshaveformedproductseries,including“SZCHYushuiqing”rice,noodles,oil,andcoarsecerealsseries,“Jiaxi”rice&noodlesseries,“Jinchangman”noodles&oilseries,Black-facedSpoonbilltea,rice,oil,drinkingwater,non-staplefoodandcondimentseries,etc.,andthelaunchofYueqiuteawinecontinuestoenrichtheproductstructure.“GrainDuoxi”rice,oil,miscellaneousgrains,mushroom,nutseries,etc;Thelaunchof“JinYue”teawinecontinuedtoenrichtheproductstructure.Theleasingandbusinessservicereferstoprovidingtheprofessionalimport&exporttrade,warehousing&storage,logistic&distribution,qualityinspection&informationtechnologyservices,propertyleasingandmanagement,businessoperationmanagementservicesforallkindsofclientsintheupstreamanddownstreamoftheindustrialchain,byusingtheadvantageofbrandreputation,operationservicecapacityandfacilitytechnologythataccumulatedinfieldofgrainandoilmarket.Dongguansmartgainlogisticscomplexisacomprehensivegraindistributionservicebodyintegratingfivemajorfunctions:grain&oilterminal,transitreserve,testing&distribution,processing&productionandmarkettrading;ShenliangQualityInspectionwasawardedas“GuangdongShenzhenNationalGrainQualityMonitoringStation”.ThesubsidiaryShenliangColdChainprovidescoldchainoffoodstorageanddistributionservicestothecustomers,andShenliangPropertyisaprofessionalassetsmanagementplatformenterprise.II.Corecompetitivenessanalysis
Thecompanyenhancestheendogenouspowerbydeepeningreform,strengthensthe“extensive”developmentbyinnovationcooperation,andcontinuouslyupgradesandtransformsthegovernancepattern,developmentquality,andguaranteeability,andhasembarkedonapathofsustainableandhigh-qualitydevelopmentthroughself-innovation,andbecomeahighlycompetitive,innovativeandinfluentialbackbonegrainenterpriseinthedomesticgrainindustry.
(1)OperationmechanismThecoremanagementteamofthecompanyhasrichexperience,andhasastrongstrategicvisionandpragmaticspirit.CombinedwiththeactualdevelopmentoftheCompany,formulatedasetofeffectivemechanismstopromotethequalityandefficiencyofbusinessdevelopment.Thecompanyvigorouslypromotestheinnovationandtransformationofbusinessmodels,andactivelypromotesthetransitionfrom“trade-orientedenterprises”to“service-orientedenterprises”,andfrom“operationalmanagementandcontrol”to“strategicmanagementandcontrol”.Inbusinesscontrol,throughtheowninformationmanagementsystem,realizesaseamlesslinkbetweenthe“operation”and“planning,capital,qualityinspection,inventory,riskcontrolanddiscipline”,effectivelyreducestheoperationalriskswhilefullyparticipatinginthemarketcompetition,andachievingadeepintegrationof“ensuringgrainsecurity”and“promotingdevelopment”.Throughdeeplypromotesthestrategyof“talentstrengtheningtheenterprises”,continuouslyinnovativetalenttrainingmechanismtocreatesahigh-qualitytalentsupplychain,thecompanyhasestablishedanopentalentteamtomeetthelong-termdevelopmentofenterprisesandreserveintelligencefortheenterpriseupgradinganddevelopment.ThecompanyhasinnovatedandimplementedtheEVAperformanceappraisalmechanismandestablishedaresult-orientedincentiveandrestraintassessmentmechanismwhicheffectivelybuilttheperformancecultureandstimulatedtheviabilitywithintheenterprise.Thecompanyinsistsoncultivatingandadvocatingthecorporateculturewith“people-oriented,performancefirst,excellentquality,andharmony”asthecorevalues,combinesthepersonaldevelopmentgoalsofemployeeswiththecorporatevision,andenhancesthecohesivenessandcentripetalforceoftheenterprise.
(2)BusinessmodelThecompanydeeplyengagesinsegmentingthetargetmarket,providesdiversifiedproductsupplyservicesforcustomersindifferentareasoftheindustrychain,establishesamulti-levelproductsupplynetworkcoveringonlineandoffline,andrealizesthetransformationofproductsupplyto“remoteness,intelligentization,andself-service”.Intermsofgrainandoiltradingservices,thebulkcommoditytradingplatformwww.zglsjy.com.cncreatedbyitssubsidiaryHualianCompanyefficientlyintegratesbusinessflow,logistics,andinformationflow,improvescirculationefficiency,andprovidesspotlistings,one-waybidding,basisprice,financing,logistics,qualityinspection,informationandotherservicesforinternalbusinessunits,suppliersandcustomers.Intermsofe-commerce,SZCHDoximiactivelypromotesthedevelopmentofnewgrainretailformatssuchas“Internet+Grain”and“CommunityAutomaticGrainSalesStations”,andhasopenedchannelsone-commerceplatformssuchasTmallandJingdongMallsoastopromotethedeepintegrationofonlineandofflinee-commerceplatforms.Intermsofgroupmealsupply,itssubsidiarySZCHBeigehasestablishedaone-stopdistributionserviceplatformservinglargeendcustomers,providinghigh-qualityandsafesmartgroupmealfoodservicesforgroupuserssuchasenterprises,schools,andgovernmentinstitutions.Intermsofcomprehensiveteadrinkingservices,itssubsidiaryShenbaoInvestmenthaslaunchedamicro-complex“ChaMiXiangQi”withacombinationof“lightdrinks”,“lightfood”and“lightretail”functions.
(3)InformationtechnologyThecompanyattachesgreatimportancetothetransformationandupgradingoftraditionalindustrieswithmoderntechnologicalmeans,andactivelyintroducesnew-generationinformationtechnologiessuchastheInternetofThings,cloudcomputing,bigdata,andmobileInternetintograinmanagement,forminganinformationsystemthatcancovertheentireindustrialchainofthegrainindustry,andpromotingthe“Internet+Grain”industrydevelopment.Thecompany’sinformatizationconstructioncapabilityisattheleadinglevelinthegrainreservesindustry,takingtheleadinbuildingthewarehousemanagementof“standardization,mechanization,informatization,andharmlessness”intheindustry,theself-developed“GrainLogisticsInformationSystem(SZCGGLS)”hasbuiltaframeworkfortheconstructionofgraininformatizationwork,innovatedthegrainmanagementmodel,ledthedevelopmentdirectionofthegrainindustry,andbecameabenchmarkforthenationalgrainindustry.Theprojectwasawardedthe“NationalIoTMajorApplicationDemonstrationProject”bytheNationalDevelopmentandReformCommissionandtheMinistryofFinance.Thecompanyhasundertakenanumberofnational-levelresearchprojects,theresultsofanumberofinformatizationprojectshavewonnational,provincialandmunicipalawards,anddozensofinformationsystemshavebeendevelopedandareoperatingnormally.
(4)R&DcapabilitiesThecompanyhasstrongresearchanddevelopmentcapabilitiesinthefieldoffoodandbeverage,andgathersleadingtechnologicaladvantagesandequipmentsystems.ThesubsidiaryShenbaoHuachengownstheGuandongengineeringtechnologyresearchcenter,Jiangxiprovincialenterprisetechnologycenter,Shenzhenmunicipalresearchanddevelopmentcenter(technologycenter)andShenzhenplantdeepprocessingtechnologyengineeringlaboratoryandhaveobtainednationalhigh-techenterprisecertification.Andalsoownsanumberofpatentedtechnologiesforteapowder,teaconcentratedjuiceandplantextractionindependentlyresearchedanddeveloped,publisheddozensofscientificpapers,andwonanumberofawardssuchasScienceandTechnologyProgressAwardoftheMinistryofAgriculture,ShennongChineseAgriculturalScience&TechnologyAwardoftheChinesSocietyofAgriculture,Science&TechnologyAchievementAwardofChineseAcademyofAgriculturalSciences,ScienceandTechnologyAwardofChinaNationalLightIndustryCouncil,ZhejiangScienceandTechnologyAward,JiangxiScienceandTechnologyProgressAwardandShenzhenScience&TechnologyProgressAward,etc.,presidedoverorparticipatedinthepreparationofseveralnationalstandardsandindustrialstandards.
(5)QualitycontrolThecompanyimplementsgrainandoilqualitystandardsthatarehigherthannationalstandards.ThesubordinateShenliangQualityInspectionhastheleadinggrainandoilqualityinspectiontechnologyandequipmentinthedomesticgrainindustry,andisincludedinthenationalgrainqualitysupervisionandinspectionsystem.Itwasawardedthe“GuangdongShenzhenNationalGrainQualityMonitoringStation”bytheStateAdministrationofGrainandobtainedtheassessmentcertificateofagriculturalproductqualityandsafetyinspectionagency(CATL)andthequalificationcertificateofinspectionagency(CMA)etc,andpassedthecertificationofnearlyonethousandtestingcapabilityitems.ShenliangQualityInspectionlistspesticideresidues,heavymetalpollutants,fungaltoxinsandotherhygieneindicatorsaswellasfoodtasteindicatorsinthedailyinspectionindicators.Ithastheabilitytodetectfourtypesofindicatorsofgenericquality,storagequality,foodsecurity&qualityandotherfourtypesofindicatorsoftestingcapacity.Thedetectioncapabilitycanmeettherelevantqualitydetectionrequirementsofgrainandoilproducts,andcanaccuratelyanalyzethenutritionalcompositionandhygienicindicatorsofthegrainanddetermineitsstorageandediblequality.Ithascreatedthe“digitallaboratory”inthegrainindustry,real-timemonitoringoftheentireprocessofcuttings,testing,distribution,etc.,relyingoncollaborativeplatformstosave,retrieve,integrate,analyzeandsharegrainandoiltestingdatatoachieve100%coverageofgrain&oilproductinspection.Hastheinternationallyrecognizedqualitycontrolsystem.ItssubsidiaryShenbaoHuachengCompanyhasestablishedaqualitycontrolsystemrecognizedbylargeinternationalfoodandbeveragecompanies,andhassuccessfullypassedthequalitycertificationofglobalsuppliersofCoca-Cola,Lipton,Kraft,Suntory,andNestlé.
(6)BrandeffectThecompanywasawardedthe“Top500ServiceEnterprisesinChina”,“China’sMostInfluentialGrain&OilGroup”,“ChinaTopTenGrainandOilGroups”,“ChinaTop100GrainandOilEnterprises”,“NationalLeadingEnterpriseSupportingGrainandOilIndustrialization”,“NationalQualityBenchmark”and“Top10FoodDigitalTechnologyApplications”.Ithasbeenselectedasoneofthe“FirstBatchofNationalEmergencyFoodSecurityEnterprises”,“Top100AgriculturalIndustrializedHeadEnterprisesinChina”,“Top10HeadEnterpriseintheGrainIndustry”and“TheNationalDemonstrationEnterpriseofAssuredGain&OilDemonstrationProject”,etc..Itisthe“RiceBag”trustedbythepublic.Strengthenbrandleadership,activelyexploreandcultivateexcellentpublicbrands,relyonqualitytowinrecognition,reputationandmarketshare,andformaseriesofhigh-qualitygrainandoilproductscenteredonChinaGoodGrainandOil,ShenzhenWell-knownBrands,andShenzhenProducts.Thecompanyownswell-knownbrandsandplatforms,suchas“ShenzhenFlour”,“SZCHDuoxi”,“SZCHYushuiqing”,“BigKitchen”,“ShenbaoTeabank”,“JuFangYong”,“ChaMiXiangQi”,“Sanjing”,“www.zglsjy.com.com”,and“doximi.com”,andgraduallybuildanindustrialsystemwithcomplete“rice”+“tea”elements.
III.Mainbusinessanalysis
Overview
Theyear2024isacrucialphaseinthe"14thFive-YearPlan,"markingapivotalperiodforbuildingonpastachievementsandsettingthestageforfuturesuccess.Thecompanyhasthoroughlyimplementedthespiritofthe20thNationalCongressoftheCommunistPartyofChina,adheringtotheprincipleofpursuingprogresswhilemaintainingstability,withastrongfocusonitscoreresponsibilitiesofstabilizinggrainproductionandensuringsupplysecurity.Despitesignificantmacroeconomicchallengesandavolatilemarketenvironment,thecompanyhasmaintaineditsstrategicfocus,promotingintegrationandcollaborationtooptimizeresourcesandmaximizeefficiency.Innovationremainsatoppriority,witheffortstorevitalizeexistingresourcesandpursuenewgrowthopportunities.Inthefirsthalfof2024,thecompanyreportedoperatingincomeof2.416billionyuan,ayear-on-yeardecreaseof416millionyuan;totalprofitwas165millionyuan,down49millionyuanyear-on-year,andnetprofitattributabletoshareholderswas129millionyuan,adecreaseof39millionyuancomparedtothesameperiodlastyear.
(1)Mainbusinessdevelopment
Inthefirsthalfof2024,thegrainandoilsectorfacedchallengesduetoaglobaldownturningrainmarkets,leadingtoweakconsumerdemand.Slowtraderesultedinlowersales,revenue,andgrossprofit,withsomeproductsexperiencingpriceinversions.Inventorywrite-downsfurtherimpactedperformance,fallingshortofexpectations.Inresponse,thecompanyfocusedonensuringfoodsecuritybyenforcingstrictcontrols,enhancingstoragefacilities,andutilizingdigitaltools.Theseeffortsensuredhigh-qualityreserveservices,stabilizingregionalgrainsecurity.Thecompanyalsosoughtmarketopportunities,partneringwithleadingfirmsacrossregions,andadvancingincrementalprojects.Businessunitspursuedvaluecreationacrossthesupplychain,withtheoilcompanygrowingpackagedoilsales,theflourcompany’s"Feiyu"brandfillingamarketgap,andShenbaoHuachengachievingR&Dbreakthroughs.Thesmartgrainandoilsupplychainsawcontinuousimprovement,withtheColdChainCompanylaunchingthe"BigColdStorage"projectinpartnershipwithHigreen(Guangming),andDoximiadvancingcoordinationwiththeShanghaiAgriculturalProductsWholesaleMarket.
(2)Keyprojectprogress
ThecompanycontinuedtoenhancethefunctionalityoftheCerealsHoldingsGrainTradingPlatform.ThericeprocessingplantattheNortheastGrainBasecompleteditsupgrade,ensuringsmoothproductionandoperations.ThedevelopmentofthegrainlogisticshubinDongguanadvancedalongsidebusinessgrowth.TheNo.3berthreceivedseveralspecialapprovals,andtheexpansionprojectfortheNo.4berthwassuccessfullyapprovedandevaluated.Additionally,thecompanylaunchedcontainerservices,leadingtosignificantbreakthroughsinlogisticsandtransshipmentoperations.
(3)Otherkeyinitiatives
Thecompanyhasdrivenhigh-qualitydevelopmentthroughinnovation,focusingonmarketdemandtoexpandfrom"ingredients"to"foodproducts,"therebyboostingmarketcompetitiveness.In2024,thecompanylaunchedinnovationandtechnicalimprovementprojects,advancedtherevisionofShenzhenlocalstandards,andissuedthe"ShenzhenRiceEmergencyReserveQualityAssuranceTechnicalRegulations."Standardsandguidelinesforthecadmiumlimitinfinishedricewerealsoestablished.Inthefirsthalfoftheyear,thecompanyaddedthreeproductstoits"Zhenpin"certification,totaling68certifiedproducts.Thecompanywasrecognizedasa"Top100ShenzhenBrand"anda"Well-knownShenzhenBrand"atthethirdShenzhenBrandAwards,andits"CerealsQualityArchiveDigitalManagementPlatform"wasnamedan"OutstandingDigitalTransformationAchievementinShenzhen2023."ShenbaoHuachengwasappointedasthefirstVicePresidentoftheTeaandPlantBeveragesBranchoftheChinaBeverageIndustryAssociation,contributingtothedevelopmentofindustrystandardsforteaconcentratesandinstanttea.
StrengtheningFoundationsandStimulatingInternalDrive.Thecompanycontinuestoadvancetheconstructionofamoderngovernancesystemforstate-ownedenterprises,focusingonestablishingamechanismwhererightsandresponsibilitiesareclearlydefined,transparent,coordinated,andeffectivelybalanced.Governanceefficiencyhasbeenenhancedbystrengtheningthecontrolchaininvolvingtheshareholders'meeting,boardofdirectors,supervisoryboard,andpartycommittee,whileimplementingindependentdirectorsystemreforms.Organizationalefficiencyhasimprovedthroughtheoptimizationoftheheadquarters'structureandthecontinuousestablishmentandrenewalofgrassrootsorganizations.Keyinitiativesincludeadvancingtheselectionandappointmentofcadres,developingtalent,buildingkeypositionpipelines,andoptimizingthecadreteamstructure.Managementefficiencyhasbeenstrengthenedbyestablishingabusinessanalysislinkagemechanism,improvingweeklymeetingsandsupervision,
anddeepeningthe"comprehensiveriskmanagement"systemwithfullriskmanagementcoverage.Projectslikethedatamiddleplatformanddigitalcockpithavebeenlaunchedtoenhancedatagovernanceandsupervision.Thecompanyremainsfocusedonsafetyproduction,reinforcingtheprimaryresponsibilityofproductionandoperationunits,andimprovingthequalitymanagementsystem.Year-on-yearchangesinmajorfinancialdata
InRMB
| Currentperiod | Lastperiod | y-o-yincrease(+)/decrease(-) | Reasonforchange | |
| Operatingincome | 2,416,452,919.61 | 2,831,996,801.82 | -14.67% | Mainlyaffectedbythegrainandoilmarketanddemand,thepaceofthecompany'sbulkgrainandoiltradehassloweddown,resultinginayear-on-yeardecreaseinsalesandrevenue. |
| Operatingcost | 1,985,425,763.32 | 2,357,438,707.57 | -15.78% | Mainlyduetothereductioninbulktradingofgrainandoil,operatingcostsdecreasedyear-on-year. |
| Salesexpense | 73,460,826.96 | 81,081,244.08 | -9.40% | Mainlybecausethecostsofportterminals,warehousing,loadingandunloadingdecreasedyear-on-year. |
| Administrationexpense | 94,726,723.75 | 104,657,015.04 | -9.49% | Mainlyduetothedeclineincompanyperformanceandayear-on-yeardecreaseinsalaryexpenses;Inaddition,thecompanyhasimplementedthe“tightliving”requirements,reducedcostsandincreasedefficiency,resultinginyear-on-yearsavingsinrelatedexpenses. |
| Financialexpense | 16,769,853.52 | 20,808,115.34 | -19.41% | Themainreasonisthatthecompanyoptimizeditsfinancingchannels,effectivelyreducedfinancingcosts,andreducedinterestexpensesyear-on-year. |
| Incometaxexpense | 34,204,824.86 | 46,217,947.45 | -25.99% | Mainlyduetoadecreaseinprofits,theprovisionforincometaxexpensesdecreasedyear-on-year. |
| R&Dexpense | 9,813,271.21 | 9,432,745.24 | 4.03% | Themainreasonisthatthecompanycontinuedtoincreaseitstechnologicalinvestmentinthedeepprocessingoffoodandteaextract,andcontinuouslyimproveditsself-developedcapabilities. |
| Cashflowsarisingfromoperatingactivities | -158,531,444.41 | 83,503,352.21 | -289.85% | Operatingcashflowismainlyusedtopurchasegrainandoilinventory,withahigherproportionofinventorygrowthattheendoftheperiodcomparedtothesameperiodlastyear. |
| Cashflowsarisingfrominvestingactivities | 7,279,212.52 | -255,045,437.38 | 102.85% | Mainlyduetoayear-on-yeardecreaseintheidlefundsappliedtopurchasewealthmanagement(largedenominationcertificatesofdeposit)thisyear. |
| Cashflowsarisingfromfinancingactivities | -7,288,740.77 | 215,116,463.60 | -103.39% | Mainlyduetoadecreaseinshort-termborrowingscomparedtolastyear,resultinginadecreaseincashinflowsfromborrowing. |
| Netincreaseofcashandcashequivalents | -158,523,960.13 | 47,016,660.48 | -437.17% | Mainlyduetotheyear-on-yeardecreaseinoperatingnetcashflow. |
Therehavebeensignificantchangesinthecomponentorsourcesofprofitsduringthereportingperiodofthecompany
□Applicable?NotapplicableTherehavebeennosignificantchangesinthecompositionorsourcesofprofitsduringthereportingperiodofthecompany.Componentofoperatingincome
InRMB
| Currentperiod | Lastperiod | y-o-yincrease(+)/decrease(-) | |||
| Amount | Ratioinoperatingincome | Amount | Ratioinoperatingincome | ||
| Totaloperatingincome | 2,416,452,919.61 | 100% | 2,831,996,801.82 | 100% | -14.67% |
| Byindustries | |||||
| Wholesaleandretail | 1,516,982,535.46 | 62.78% | 1,970,880,248.72 | 69.59% | -23.03% |
| Leasingandbusinessservices | 490,757,531.22 | 20.31% | 487,158,541.41 | 17.20% | 0.74% |
| Manufacturing | 408,712,852.93 | 16.91% | 373,958,011.69 | 13.21% | 9.29% |
| Byproducts | |||||
| Grain&oiltradingandprocessing | 1,739,184,083.86 | 71.97% | 2,217,815,907.14 | 78.31% | -21.58% |
| Grain&oilstoragelogisticsandservices | 427,474,421.05 | 17.69% | 428,675,200.44 | 15.14% | -0.28% |
| Food,beverageandteaprocessing | 186,511,304.53 | 7.72% | 125,895,974.09 | 4.45% | 48.15% |
| Leasingandothers | 63,283,110.17 | 2.62% | 59,609,720.15 | 2.10% | 6.16% |
| Byregion | |||||
| Domesticmarket | 2,399,676,960.09 | 99.31% | 2,814,438,937.19 | 99.38% | -14.74% |
| Overseamarket | 16,775,959.52 | 0.69% | 17,557,864.63 | 0.62% | -4.45% |
Industries,productsorregionsthataccountformorethan10%oftheoperatingincomeoroperatingprofitoftheCompany?Applicable□Notapplicable
InRMB
| Operatingincome | Operatingcost | Grossprofitratio | y-o-yincrease(+)/decrease(-)ofoperatingrevenue | y-o-yincrease(+)/decrease(-)ofoperatingcost | y-o-yincrease(+)/decrease(-)ofgrossprofitratio | |
| Byindustry | ||||||
| Wholesaleandretail | 1,516,982,535.46 | 1,470,984,780.74 | 3.03% | -23.03% | -21.37% | -2.05% |
| Byproduct | ||||||
| Grain&oiltradingandprocessing | 1,739,184,083.86 | 1,692,648,450.30 | 2.68% | -21.58% | -20.11% | -1.79% |
| Byregion | ||||||
| Domesticmarket | 2,399,676,960.09 | 1,972,096,485.94 | 17.82% | -14.74% | -15.87% | 1.11% |
Intheeventthatthestatisticalcaliberofthecompany’smainbusinessdataisadjustedduringthereportingperiod,themainbusinessdataofthecompanyhasbeenadjustedaccordingtothecaliberattheendofthereportingperiodinthepastyear.
□Applicable?Notapplicable
IV.Analysisofnon-mainbusiness?Applicable□Notapplicable
InRMB
| Amount | Ratiointotalprofit | Descriptionofformation | Sustainableornot(Y/N)? | |
| Investmentincome | 3,368,123.85 | 2.05% | N | |
| Gains/lossesoffairvaluevariation | 0.00 | 0.00% | N | |
| Assetimpairment | -79,774,391.84 | -48.47% | Mainlyduetothedownwardtrendinpricesofsomegrainandoilvarieties,provisionsforinventorydepreciationaremadeonthebasisofmarketprices.Whengoodsforwhichprovisionsforinventorydepreciationhavebeenmade,theprovisionforinventorydepreciationwithdrawnwillbecarriedforwardtooffsetcurrentcosts. | N |
| Non-operatingincome | 72,146.65 | 0.04% | N | |
| Non-operatingexpense | 230,544.48 | 0.14% | N |
V.Analysisofassetsandliabilities
1.Majorchangesofassetscomponent
InRMB
| Endofcurrentperiod | Endoflastfinancialperiod | Ratiochanges | Notesofmajorchanges | |||
| Amount | Ratiointotalassets | Amount | Ratiointotalassets | |||
| Monetaryfund | 81,588,655.29 | 1.10% | 236,384,606.60 | 3.20% | -2.10% | Mainlyduetothedistributionofcashdividendsof231millionyuantoshareholdersinJune,whichreducedworkingcapital. |
| Accountreceivable | 249,497,706.82 | 3.38% | 179,828,493.98 | 2.43% | 0.95% | Mainlyduetotheincreaseinrevenuefromgovernmentreservegrainandoilservices. |
| Contractassets | 0.00% | 0.00 | 0.00% | 0.00% | ||
| Inventory | 3,719,257,500.78 | 50.33% | 3,458,443,989.04 | 46.75% | 3.58% | Mainlybecausethecompanyincreaseditsinventoryofgrainandoilaccordingtobusinessneeds. |
| Investmentrealestate | 255,521,705.63 | 3.46% | 263,597,031.89 | 3.56% | -0.10% | |
| Long-termequityinvestment | 72,286,411.60 | 0.98% | 74,008,926.48 | 1.00% | -0.02% | |
| Fixassets | 2,127,018,321.47 | 28.78% | 2,171,969,725.22 | 29.36% | -0.58% | |
| Constructioninprogress | 63,236,301.49 | 0.86% | 51,288,301.16 | 0.69% | 0.17% | |
| Right-of-useassets | 46,685,705.34 | 0.63% | 56,933,148.16 | 0.77% | -0.14% | |
| Short-termloans | 1,471,993,682.19 | 19.92% | 1,223,462,519.16 | 16.54% | 3.38% | Mainlyduetotheneedtoincreaseshort-termbankloansfordividendsdistributioninJuneandoperatingfunds |
| Contractliability | 93,304,109.71 | 1.26% | 86,566,253.73 | 1.17% | 0.09% | |
| Long-termloans | 0.00% | 0.00 | 0.00% | 0.00% | ||
| Leaseliability | 29,266,103.49 | 0.40% | 37,744,951.74 | 0.51% | -0.11% |
2.Majoroverseaassets
□Applicable?Notapplicable
3.Assetsandliabilitiesmeasuredbyfairvalue
?Applicable□Notapplicable
InRMB
| Item | Beginningamount | Changesoffairvaluegains/lossesinthisperiod | Accumulativechangesoffairvaluereckonedintoequity | Devaluationofwithdrawingintheperiod | Amountofpurchaseintheperiod | Amountofsaleintheperiod | Otherchanges | Endingamount |
| Financialassets | ||||||||
| 1.Tradablefinancialassets(excludingderivativefinancialassets) | 1,122,347.85 | 1,122,347.85 | ||||||
| 5.Othernon-currentfinancialassets | 57,500.00 | 57,500.00 | ||||||
| 6.Largefixeddeposit | 30,226,849.32 | 30,226,849.32 | ||||||
| Aforementionedtotal | 31,406,697.17 | 31,349,197.17 | 57,500.00 | |||||
| Financialliabilities | 0.00 | 0.00 |
OtherchangeAretheremajorchangesonmeasurementattributesformainassetsoftheCompanyinreportingperiod?
□Yes?No
4.Theassetsrightsrestrictedtillendoftheperiod
Thedetailsofmonetaryfundsthatarerestrictedinuseduetomortgage,pledge,orfreezing,restrictedincentralizedmanagementandwithdrawaloffunds,andrestrictedinrepatriationoffundsplacedoverseasareasfollows:
| Item | Endingbalance | Endingbalanceoflastperiod |
| Guaranteedeposit | - | 1,800,000.00 |
| Letterofcreditdeposit | 4,750,000.00 | 691,708.31 |
| Litigationrelatedfreezing | 2,973,129.00 | 2,973,129.00 |
| Total | 7,723,129.00 | 5,464,837.31 |
VI.Investmentanalysis
1.Overallsituation?Applicable□Notapplicable
| Investmentinreportingperiod(RMB) | Investmentinthesameperiodoflastyear(RMB) | Changes(+/-) |
| 1,449,600.00 | 51,638,617.14 | -97.19% |
2.Themajorequityinvestmentobtainedinthereportingperiod
?Applicable?Notapplicable
3.Themajornon-equityinvestmentperformedinthereportingperiod?Applicable?Notapplicable
4.Financialassetsinvestment
(1)Securitiesinvestment
?Applicable□Notapplicable
InRMB
| Varietyofsecurities | Codeofsecurities | Shortformofsecurities | Initialinvestmentcost | Accountingmeasurementmodel | Bookvalueatthebeginningoftheperiod | Changesinfairvalueofthecurrentprofitandloss | Cumulativefairvaluechangesinequity | Currentpurchaseamount | Currentsalesamount | Profitandlossinthereportingperiod | Bookvalueattheendoftheperiod | Accountingsubject | Capitalsource |
| Domesticandoverseasstock | 000017 | Zhonghua-A | 0.00 | Fairvaluemeasurements | 1,122,347.85 | 3,246,197.15 | 2,123,849.30 | 0.00 | Tradablefinancialassets | Debtrescheduledshares | |||
| Total | 0.00 | -- | 1,122,347.8 | 0.00 | 0.00 | 0.00 | 3,246,197.1 | 2,123,849.3 | 0.00 | -- | -- | ||
| 5 | 5 | 0 |
(2)Derivativeinvestment
□Applicable?NotapplicableTheCompanyhasnoderivativesinvestmentinthePeriod
5.Applicationofraisedproceeds
□Applicable?NotapplicableTherewasnouseofraisedfundsduringthereportingperiodofthecompany.VII.Salesofmajorassetsandequity
1.Salesofmajorassets
□Applicable?NotapplicableTheCompanyhadnosalesofmajorassetsinthereportingperiod.
2.Salesofmajorequity
□Applicable?NotapplicableVIII.Analysisofmainholdingcompaniesandstock-jointlycompanies
?Applicable□NotapplicableParticularaboutmainsubsidiariesandstock-jointlycompaniesnetprofitover10%
InRMB
| Companyname | Type | Mainbusiness | Registercapital | Totalassets | Netassets | Operatingincome | Operatingprofit | Netprofit |
| ShenzhenCerealsGroupCo.,Ltd | Subsidiary | Grain&oiltradingprocessing,grainandoilreserveservice | 1,530,000,000.00 | 7,491,721,058.13 | 4,087,210,276.26 | 2,147,828,716.65 | 84,552,049.08 | 50,662,245.80 |
| ShenzhenHualianGrainandOilTradingCo.,Ltd. | Subsidiary | Grain&oiltrading | 100,000,000.00 | 1,133,010,229.72 | 208,235,098.66 | 605,218,995.26 | -46,882,104.22 | -40,384,788.27 |
| DongguanShenliangLogisticsCo.,Ltd. | Subsidiary | Grain&oiltradingprocessing,warehouse,andlogistics | 298,000,000.00 | 2,887,305,661.00 | 392,620,426.48 | 371,100,465.96 | 22,255,674.71 | 21,467,824.54 |
Particularaboutsubsidiariesobtainedordisposedinreportingperiod?Applicable□Notapplicable
| Nameofenterprise | Waysofacquiringanddisposingofsubsidiariesduringthereportingperiod | Impactonoverallproduction,operation,andperformance |
| WuhanJiachengBiologicalProductsCo.,Ltd. | Publiclylistedfortransfer | Itisexpectedthatitwillnothaveasignificantimpactonthecompany'sproduction,operation,andperformance |
Explanationonmainholdingcompaniesandstock-jointlycompanies:
ShenzhenCerealsGroupCo.,Ltd:Businessscope:generalbusinessitems:grainandoilpurchaseandsales,grainandoilstorage;grainandoilandproductsmanagementandprocessing(operatedbybranches);operationandprocessingoffeed(operatedbyoutsourcing);investmentingrainandoil,feedlogisticsprojects;establishinggrainandoilandfeedtradingmarket(includinge-commercemarket)(marketlicenseisalsoavailable);storage(operatedbybranches);development,operationandmanagementoffreeproperty;providingmanagementservicesforhotels;investingandsettingupindustries(specificprojectsareseparatelydeclared);domestictrade;engaginginimportandexportbusiness;E-commerceandinformationconstruction;andgraincirculationservice.Licensedbusinessitems:thefollowingprojectsshallbeoperatedonlywiththerelevantexaminationandapprovaldocumentsiftheyareinvolvedinobtainingapproval:informationservices(internetinformationserviceonly);generalfreight,professionaltransport(refrigeratedpreservation).Registercapitalis1,530,000,000.00yuan.Asoftheendofcurrentperiod,totalassetsreached7,491,721,058.13yuan,andnetassetsamountedto4,087,210,276.26yuan;inthereportingperiod,theoperatingincome,netprofitandnetprofitattributabletoshareholderofparentcompanywere2,147,828,716.65yuan,50,662,245.80yuanand40,479,097.74yuanrespectively.ShenzhenHualianGrainandOilTradingCo.,Ltd.:Businessscope:generalbusinessitems:domestictrade(exceptforprojectsthatlaws,administrativeregulations,anddecisionsoftheStateCouncilrequireapprovalbeforeregistration);engaginginimportandexportbusiness(exceptforprojectsprohibitedbylaws,administrativeregulations,anddecisionoftheStateCouncil,restrictedprojectscanbeoperatedonlyafterobtainingpermission);onlinefeedsales;informationconsultation,self-ownedhousingleasing(excludingtalentagencyservicesandotherrestricteditems);internationalfreightforwarding,domesticfreightforwarding(canonlybeoperatedafterbeingapprovedbythetransportdepartmentiflaws,administrativeregulations,StateCouncildecisionrequiretheapprovaloftransportdepartment);Licensedbusinessitems:followingitemsshallbeoperatedonlywiththerelevantexaminationandapprovaldocumentsiftheyareinvolvedinobtainingapproval:purchaseandsaleofgrainandoil,onlinesalesofgrainandoil;informationservicebusiness(internetinformationservicebusinessonly).Registercapitalis100,000,000.00yuan.Asoftheendofcurrentperiod,totalassetsreached1,133,010,229.72yuan,andnetassetsamountedto208,235,098.66yuan;inthereportingperiod,theoperatingincome,netprofitandnetprofitattributabletoshareholderofparentcompanywere605,218,995.26yuan,-40,384,788.27yuanand-40,466,600.85yuanrespectively.DongguanShenliangLogisticsCo.,Ltd.Businessscope:Generalbusinessitems:Containerandbulkcargostorageandothersupportingservices;Containerandbulkcargotransportation;Production:food(grainandoil),feedandfeedadditives;Grainprocurement;Wholesaleandretail:prepackagedfood(grainandoil),bulkfood(grainandoil),feedandfeedadditives;Portoperations,loadingandunloadingofsteelandgeneralcargoatports;Roadfreighttransportation;Watertransportation,watertransportationservices;Grainandoilstorage;InternetInformationServices;Technicalservicesforgrain,oil,andfeedqualityinspection;hotelmanagement;Industrialinvestment;Marketoperationmanagement;Supplychainmanagementservices;Internationalfreightforwarding,domesticfreightforwarding;Customsdeclarationagencyandinspectionagency;Propertymanagementandleasing;Importandexportofgoodsandtechnology.Projectsthatrequireapprovalaccordingtolawcanonlybeoperatedwiththeapprovalofrelevantdepartments.Itsregisteredcapitalis2,980,000.00yuan.Asoftheendofcurrentperiod,totalassetsreached2,887,305,661yuan,andnetassetsamountedto392,620,426.48yuan;inthereportingperiod,theoperatingincome,
netprofitandnetprofitattributabletoshareholderofparentcompanywere371,100,465.96yuan,21,467,824.54yuanand21,467,824.54yuanrespectively.IX.StructuredvehiclecontrolledbytheCompany
□Applicable?NotapplicableX.Risksfacedbythecompanyandcorrespondingmeasures
1.RisksofpricefluctuationsinthepurchaseandsaleofgrainandoilTheRussia-Ukraineconflict,theMiddleEastwar,extremeweatherandotheruncertainexternalfactorshaveledtosignificantfluctuationsinthepurchaseandsalepricesofgrainandoilathomeandabroad,andshowedalargestructuraldifference.Besides,somecountrieshaveimplementedcontrolsontheexportofagriculturalproducts,whichdirectlyaffectedthesupplyofbulkagriculturalandsidelineproductsandexacerbatesfluctuationsingrainandoilprices.Theaforementionedrisksmayaffectthecompany'sprofitabilityandmayalsoleadtofluctuationsininventoryvalue.Thecompanywillactivelyrespondtotherisksofadverseeffectsofgrainandoilpricefluctuationsonitsoperationsbystrengtheningmarketforecasting,establishingstrategiccooperation,optimizingsupplymanagement,refiningmanagement,enhancinginternalcollaboration,andoptimizingproductstructureinatargetedmanner.
2.Foodsafetyrisks“Qualitysafety”isthelifelineforthesustainabledevelopmentofenterprises,andfoodsafetyisaninviolableredline.Regulatoryauthoritieshavepromulgatedaseriesofregulationsandsystemsfromtoptobottomtargetingfoodsafetyhazards,corporateresponsibilities,productionmanagementcompliance,qualitysafetyinspections,andriskmonitoringandcontrol,aimingtoimplementtherequirementsof“thefourstrictestsupervisionoffoodsafety”.Basedonthediversifieddevelopmentofcurrentproductcategoriesandbusinessformats,thecompanyhasissuedthe“SZCHFoodQualitySafetyManagementMeasures”,coveringgrainandnon-grainfoodcategoriesandtheirkeybusinessprocesses,toalignwiththeexistingcompany’sbusinessmodelanddiversifiedproductqualitymanagement.Thissystem,servingasthesuperiorsystemforthecompany’sfoodsafetymanagement,fillsthegapsinprevioussystemlevels,clarifieskeypositionresponsibilities,strengthenssupervisionoverkeyprocesses,andrefinesandstandardizesdailyfoodqualitysafetymanagementworkfromfiveaspects:on-siteinspectionchecklists,enterpriseself-inspectionreporting,trainingdrillrecords,productinformationledger,ensuringthatfoodproductsmeetqualitystandards,hygienestandards,andrelevantregulatoryrequirements.
3.RiskofintensifiedmarketcompetitionAsarepresentativeenterpriseofregionalgrain,oilandfoodbusiness,comparedwithcentralenterprisesandlargemultinationalgrain,oilandfoodenterprises,thecompanystillhasacertaingapinscaleandbrandawareness.Inthefuture,thecompetitioninthegrain,oilandfoodindustrywillbecomemoreintense,ifthecompanycannoteffectivelypromoteitsownbrandandbroadenitsmarketingchannels,itmayfacegreaterriskswhenmarketcompetitionintensifies.Inresponsetopossiblemarketandbusinessrisks,ontheonehand,thecompanymakesoverallplansforannualprocurement,carefullyoptimizesprocurementchannels,andensuressufficientgrainsupplyandorderlysupply.Ontheotherhand,thecompanycontinuestostrengthencommunicationwithupstreamanddownstreamcustomersintheindustrychain,vigorouslyexpandssaleschannels,focusesoncustomerneeds,deepensbrandandservice,andenhancesthecompany'sbrandvalueandcompetitiveness.Thethirdistopromotebrandbuilding,strengthenbrandcommunicationandcooperationwithintheindustry,explorehigh-qualitybrandelementresources,createunifiedbrandapplicationstandards,andgraduallyestablishbrandadvantages.
XI.ImplementationoftheActionPlanfor“DoubleImprovementofQualityandReturn”DoesthecompanydiscloseActionPlanfor“DoubleImprovementofQualityandReturn”
□Yes?No
SectionIVCorporateGovernanceI.Annualshareholders’generalmeetingandextraordinaryshareholders’generalmeetingheldduringthereportingperiod
1.Annualshareholders’generalmeetingduringthereportingperiod
| Ordinalnumberofmeeting | Type | Ratioofinvestorparticipation | Date | Dateofdisclosure | Resolutions |
| Thefirstextraordinarygeneralmeetingofshareholdersof2024 | Extraordinarygeneralmeeting | 72.13% | 2024-01-09 | 2024-01-10 | ResolutionsoftheFirstExtraordinaryGeneralMeetingofShareholdersof2024(NoticeNo.2024-02)disclosedonCNINFOwebsite(www.cninfo.com.cn)onJanuary10,2024 |
| AnnualGeneralMeetingof2023 | AGM | 72.14% | 2024-05-07 | 2023-05-08 | ResolutionsoftheAnnualGeneralMeetingof2023(NoticeNo.2024-15)disclosedonCNINFOwebsite(www.cninfo.com.cn)onMay8,2024 |
2.Requestforextraordinaryshareholders’generalmeetingbypreferredstockholderswhosevotingrightsrestore
□Applicable?Notapplicable
II.Changesindirectors,supervisorsandseniorofficersofthecompany?Applicable?NotapplicableTherewerenochangesinthedirectors,supervisors,andseniormanagementofthecompanyduringthereportingperiod,asdetailedinthe2023annualreport.III.Profitdistributionplanandtransferofcapitalreserveintosharecapital
□Applicable?NotapplicableTherearenocashdividend,bonusandcapitalizingofcommonreservescarriedoutinthesemi-annual.IV.Implementationofthecompany’sstockincentivescheme,employeestockownershipplanorotheremployeeincentives
□Applicable?NotapplicableTherearenoequityincentiveplans,employeestockownershipplans,orotheremployeeincentivemeasuresandtheirimplementationduringthereportingperiodofthecompany.
SectionV.EnvironmentalandSocialResponsibility
I.MajorenvironmentalissuesArethelistedcompanyanditssubsidiariesakeypollutantdischargeunitannouncedbytheenvironmentalprotectionauthorities?
□Yes?NoAdministrativepunishmentforenvironmentalproblemsduringthereportingperiod
| Companynameorsubsidiaryname | Reasonforpunishment | Violation | Punishmentresult | Impactontheproductionandoperationoflistedcompany | Thecompany’srectificationmeasures |
| NA | NA | NA | NA | NA | NA |
OtherenvironmentalinformationdisclosedbyreferencetokeypollutantdischargeentitiesNotapplicableMeasurestakentoreducecarbonemissionsduringthereportingperiodandtheireffectiveness?Applicable?NotapplicableReasonsfornotdisclosingotherenvironmentalinformationNotapplicableThecompanyattachesgreatimportancetoenvironmentalprotection,Eachsubsidiaryhasbuiltcorrespondingfacilitiestoprotectenvironmentaccordingtotheactualsituationofproductionandoperation.Thewastegas,dust,wastewater,andsolidwastegeneratedduringtheproductionprocessaretreatedtomeettherelevantnationalandlocalstandardsforemissions.II.SocialresponsibilityInthefirsthalfof2024,guidedbyXiJinpingThoughtonSocialismwithChineseCharacteristicsforaNewEra,CerealsHoldingsthoroughlystudiedandimplementedthespiritofthe20thPartyCongress,andcloselyfollowedGeneralSecretaryXiJinping'sdirectivesonagricultureandruralrevitalization.Thecompanyfocusedontheprovincial"High-QualityDevelopmentProjectforHundredsofCounties,ThousandsofTowns,andTensofThousandsofVillages"andthemunicipalruralrevitalizationinitiatives.Activelyfulfillingitssocialresponsibilities,CerealsHoldingsleverageditsresourcestodeepenruralrevitalizationefforts,drivingstrongdevelopmentmomentuminthesupportedregions.
1.StrengtheningsupportaccountabilityanddeepeningruralrevitalizationThecompany'sPartyCommitteeplacedsignificantemphasisonruralrevitalization,makingitakeypriority.Earlyintheyear,aspecialmeetingwasheldtoplanandimplementthe2024targetedassistanceinitiatives.Comprehensiveresearchandvisitswereconductedtostayinformedabouttheworkconditionsandmindsetofthevillage-basedcadres.Proactivemeasures,includinghealthcheck-ups,insurance,andlivingallowances,wereimplementedtoensuretheirwell-beingandeffectivelymotivatethem.Inthefirsthalfof2024,companyleadersvisitedthedispatchedcadresonceandreviewedsixworkreportsfromthem.
2.IntensifyingsupporttofullydriveruralrevitalizationintargetedareasFirst,wedrivedevelopmentthroughPartybuilding,creatingstrongsynergy.Tothoroughlyimplementtheprovincial“1310”strategy,thecompany’sPartyCommitteeorganizedathemedPartyDayandjointParty-buildingactivity,"GreenandBeautifulGuangdongCerealsinAction,"inShengliVillage,TuochengTown,Longchuan,whichinvolvedvoluntarytreeplantingforruralgreening.Additionally,weactivelyexploredempoweringtheindustrialchainthroughPartybuilding.IncollaborationwithlocalpeanutoilprocessingenterprisesinTuocheng,wepromotedtheestablishmentof“SZCGOilDivisionSupportandCo-constructionBase",usinga"PartyBuildingPlus"modeltosupportruralrevitalization.Second,Promoting"Zhenpin"CertificationtoAccesstheGreaterBayAreaMarket.ZhenpinOperationsCompany,asubsidiayrofSZCHactivelyengagedinthetargetedassistanceregions,helpinglocalenterprisesaligntheiragriculturalprocessingwith
"Zhenpin"certificationstandardsandrequirements.Thiseffortacceleratesthestandardization,branding,andscalingoflocalagriculturalproducts,enablingthemtoentertheShenzhenmarketandbeyond.Inthefirsthalfof2024,thecompanyassistedfivelocalenterprisesincompletingmultiple"Zhenpin"certificationapplicationsfortheiragriculturalproducts.Third,IntegratingResourcestoStrengthenandExpandtheIndustrialChain.FlourCompany,asubsidiaryofSZCH,supportedvillage-basedcadresinforminganagriculturalindustryconsortiumbysupplyinghigh-qualityfeedrawmaterials,therebyenhancingandexpandingtheindustrialchainintargetedassistanceareas.Inthefirsthalfof2024,thecompanysuppliednearly80,000poundsoffeedtotheplantingandbreedingalliance,includingapproximately18,000poundsprovidedfreeofchargetomembersfrompreviouslyimpoverishedhouseholds,reducingcostsinthelocalspecialtyfarmingandbreedingindustrybynearly60,000yuan.Additionally,withtherecentsigningofa100-tonfeedsupplycontractbetweenDongguanLogisticsandalocalcooperative,thefeedpurchasingcostsfortheallianceareexpectedtodecreasebyapproximately350,000yuan.Fourth,MobilizingBroadSocialSupporttoFosterCollectiveAssistance.Thevillage-basedcadresofSZCH,incollaborationwiththeHaiyeziTuochengRuralRevitalizationPublicFund,implementedtargetedassistanceefforts.Togetherwithcharitableenterprisesandthefund,theydonated40setsofnewdesksandchairs,alongwitheducationalandsportssupplies,toShengliPrimarySchool,andrenovatedtheschool'selectricalsafetysystem.Theyprovidedlong-termscholarshipsfortwoorphanedsisters,coveredmajormedicalexpensesforaveterancouple,andactivelypromotedthecreationofpublicwelfarejobsinTuocheng.Bysecuring66,000yuaninpublicwelfarefundsthroughcountytaskforcequotas,theysignificantlyincreasedtheincomeoffivelow-incomeandvulnerablefamilies,helpingdisadvantagedindividualsbuildbetterlives.
Fifth,DeeplyExploring"RuralIndustry+CulturalCreativity"forIntegratedDevelopment.ToenhanceTuocheng'sbrandimage,thevillage-basedcadresofSZCHexploredlocalcultureandhelpedtheteamdesignandcreateadistinctive"Tuocheng"IP.Aseriesofculturalandcreativeproducts,includingT-shirtsandgiftbags,havebeenlaunchedandwidelyadoptedlocally,establishingauniqueregionalculturalbrand.
3.StrengtheningSupportMeasurestoConsolidateandExpandPovertyAlleviationGains
First,PromotingLocalEmploymentandEntrepreneurshipforWomenThroughtheTeaIndustry.SZCH’subsidiary,ShenbaoHuacheng,establishedYunnanBlackTeaProductionBasesinFengqingCounty,YongdeCounty,andMangshiCity,YunnanProvince.Thecompany'sR&Dteamhasconsistentlyprovidedtechnicalsupportandguidanceinthetea-producingregionsofYunnan,Fujian,andGuizhou,enhancingtheprofessionalskillsofteafarmers.Thisinitiativehaseffectivelyaddressedlocalwomen'semploymentneedsintheseareas,significantlyboostingtheincomeandprosperityofteafarmers.
Second,StrengtheningProductionandMarketingLinkagestoBoostFarmers'IncomeandAgriculturalEfficiency.Inthefirsthalfof2024,SZCH’subsidiary,Doximi,purchasedagriculturalproductsfromregionslikeBamainGuangxiandLuochuaninShaanxi,coveringovertencategories,includingfruits,nutsandgrains.Thecompanyalsolaunchedthe"DoximiAssistanceMall"onlineplatform,integratingonlineandofflinechannelstodeliverfarmproductsdirectlytourbanconsumers,thussupportingcontinuousincomegrowthinareaspreviouslyliftedoutofpoverty.
Third,ExpandingConsumptionAssistancetoBoostRuralRevitalization.Inlinewithdirectivesfromhigherauthorities,SZCHhascontinueditsconsumptionassistanceeffortsbyactivelymobilizingsubsidiariesandgrassrootsunionstopurchaseagriculturalproductsfromregionsliftedoutofpoverty.Thisinitiativeeffectivelysupportsruralrevitalization.Inthefirsthalfof2024,thecompanypurchased4.278millionyuanworthofproductsthroughtheseefforts.
SectionVI.ImportantEventsI.Undertakingsthattheactualcontroller,shareholders,relatedparty,buyersandtheCompanyhavefulfilledduringthereportingperiodandhavenotyetfulfilledbytheendofreportingperiod
□Applicable?NotapplicableNoundertakingsthattheactualcontroller,shareholders,relatedparty,buyersandtheCompanyhavefulfilledduringthereportingperiodandhavenotyetfulfilledbytheendoftheperiodII.Occupationofthenon-operationalfundsofthelistedcompanybycontrollingshareholdersanditsrelatedparty
□Applicable?NotapplicableNonon-operationalfundsofthelistedcompanyhavebeenoccupiedbythecontrollingshareholdersanditsrelatedpartyinperiod.
III.Externalguaranteeoutoftheregulations
□Applicable?NotapplicableNoexternalguaranteeoutoftheregulationsoccurredintheperiod.
IV.Appointmentandnon-reappointment(dismissal)ofCPA
Hasthesemi-annualfinancialstatementsbeenaudited?
□Applicable?NotapplicableThesemi-annualreportofthecompanyhasn’tbeenaudited.
V.Statementonthelatest“modifiedauditreport”byBOD
□Applicable?NotapplicableVI.ExplanationfromBoardofDirectorsfor“QualifiedOpinion”thatissuedbyCPAforlastperiod
□Applicable?Notapplicable
VII.Bankruptcyreorganization
□Applicable?NotapplicableNobankruptcyreorganizationfortheCompanyinreportingperiod
VIII.LitigationandarbitrationMajorlitigationandarbitration
□Applicable?Notapplicable
Therewerenomajorlitigationandarbitrationinthereportingperiod.Otherlitigationandarbitration?Applicable?Notapplicable
| Lawsuits(arbitration) | Amountinvolved(in10thousandyuan) | Resultinginanaccrualliability(Y/N)? | Progress | Trialresultandinfluence | Executionofjudgment | Disclosuredate | Disclosureindex |
| AsofJune30,2024,otherlawsuitsthatdidnotmeetthedisclosurestandardsforsignificantlawsuitsmainlyincludedthefollowing:disputesoverpurchaseandsalescontract,disputesoverwharfconstructioncontracts,disputesoverconstructioncontracts,housingleasecontracts,etc. | 7,563.99 | N | TheCompanyactivelymakesuseoftheadvantageousresourcesofinternallegalaffairsandexternallawsfirmtofollowupanddealwiththelawsuit-relatedcases.Atpresent,theCompanyisrespondingtoanddealingwiththecaseseffectivelyinaccordancewithrelevantlawsandregulations | Aftercomprehensiveanalysis,theresultofthecasesinvolvedinthelawsuitswillnothaveasignificantimpactontheCompany | Itisactivelyadvancing | Notapplicable | Notapplicable |
IX.Penaltyandrectification
□Applicable?NotapplicableTherewerenopenaltyandrectificationforthecompanyduringreportingperiod.
X.IntegrityoftheCompany,itscontrollingshareholdersandactualcontrollers
□Applicable?NotapplicableXI.Majorrelatedpartytransaction
1.Relatedpartytransactioninvolvedwithdailyoperation
□Applicable?NotapplicableTherewerenorelatedpartytransactionsinvolvedwithdailyoperation.
2.Relatedpartytransactionsofassetsoracquisitionandsold
□Applicable?NotapplicableNorelatedpartytransactionsofassetsorequityacquisitionandsoldoccurredduringthereportingperiod
3.Relatedpartytransactionsofmutualinvestmentoutside
□Applicable?NotapplicableNorelatedpartytransactionsofmutualinvestmentoutsideoccurredduringthereportingperiod.
4.Contactofrelatedpartycreditanddebt
□Applicable?NotapplicableTherewerenocontactofrelatedpartycreditanddebtinthereportingperiod.
5.Contactwiththerelatedfinancecompanies
□Applicable?NotapplicableTherearenodeposits,loans,creditsorotherfinancialbusinessbetweenthefinancecompanieswithassociatedrelationshipandrelatedparties
6.TransactionsbetweenthefinancecompanycontrolledbytheCompanyandrelatedparties
□Applicable?NotapplicableTherearenodeposits,loans,creditsorotherfinancialbusinessbetweenthefinancecompaniescontrolledbytheCompanyandrelatedparties
7.Othermaterialrelatedpartytransactions
□Applicable?NotapplicableTherewerenoothermaterialrelatedpartytransactionsinthereportingperiod.
XII.Significantcontractandimplementations
1.Trusteeship,contractandleasing
(1)Trusteeship
□Applicable?NotapplicableNotrusteeshipoccurredduringthereportingperiod
(2)Contracting
□Applicable?NotapplicableNocontractoccurredduringthereportingperiod
(3)Leasing
□Applicable?NotapplicableNoleasingoccurredduringthereportingperiod
2.Materialguarantees
□Applicable?NotapplicableThecompanyhadnomaterialguaranteesinthereportingperiod.
3.Trustedcashassetmanagement
?Applicable□Notapplicable
Intenthousandyuan
| Type | Capitalsources | Amountoccurred | Outstandingbalance | Overdueamount | Amountwithimpairmentaccrualfortheoverduefinancialproductswhichhasnotbeenrecovered |
| Financingproductsofbanks | Ownfunds | 28,500 | 0 | 0 | 0 |
| Total | 28,500 | 0 | 0 | 0 | |
Detailsofthesinglemajoramount,orhigh-risktrustinvestmentwithlowsecurity,orpoorliquidity
□Applicable?NotapplicableItisexpectedthattheprincipalofentrustedfinancialmanagementfailstorecoverorthereareothersituationsleadingtoimpairmentinentrustedfinancialmanagement
□Applicable?Notapplicable
4.Othersignificantcontract
□Applicable?NotapplicableThecompanyhadnoothersignificantcontractinthereportingperiod.
XIII.Explanationonothermaterialmatters?Applicable?NotapplicableThecompanyhasnoexplanationonothermaterialmatters.XIV.MaterialmattersofsubsidiaryoftheCompany
□Applicable?Notapplicable
SectionVII.ChangesinSharesandParticularsabout
ShareholdersI.ChangesinShares
1.Changesinshares
Unit:Share
| BeforetheChange | Increase(+)/Decrease(-)intheChange | AftertheChange | |||||||
| Amount | Proportion | Newsharesissued | Bonusshares | Capitalizationofpublicreserve | Others | Subtotal | Amount | Proportion | |
| I.Restrictedshares | 684,569,567 | 59.40% | 0 | 0 | 0 | 0 | 0 | 684,569,567 | 59.40% |
| 1.State-ownedshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 2.State-ownedcorporateshares | 684,569,567 | 59.40% | 0 | 0 | 0 | 0 | 0 | 684,569,567 | 59.40% |
| 3.Otherdomesticshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Including:Domesticlegalperson’sshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Domesticnatureperson’sshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 4.Foreignshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Including:Foreigncorporateshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Overseasnatureperson’sshare | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| II.Unrestrictedshares | 467,965,687 | 40.60% | 0 | 0 | 0 | 0 | 0 | 467,965,687 | 40.60% |
| 1.RMBcommonshares | 416,216,407 | 36.11% | 0 | 0 | 0 | 0 | 0 | 416,216,407 | 36.11% |
| 2.Domesticallylistedforeignshares | 51,749,280 | 4.49% | 0 | 0 | 0 | 0 | 0 | 51,749,280 | 4.49% |
| 3.Foreignlistedforeignshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 4.Other | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| III.Totalshares | 1,152,535,254 | 100.00% | 0 | 0 | 0 | 0 | 0 | 1,152,535,254 | 100.00% |
Reasonsforchangesinshare
□Applicable?NotapplicableApprovalofchangesinshare
□Applicable?NotapplicableOwnershiptransferofchangesinshare
□Applicable?NotapplicableProgressoftheimplementationofrepurchaseshare?Applicable□NotapplicableProgressoftheimplementationofreducingbuybacksharesbymeansofcentralizedbidding
□Applicable?NotapplicableInfluenceonthebasicEPSanddilutedEPSaswellasotherfinancialindexesofnetassetspershareattributabletocommon
shareholdersofCompanyinlastyearandperiod
□Applicable?NotapplicableOtherinformationnecessarytodiscloseorneedtodisclosedunderrequirementfromsecurityregulators
□Applicable?Notapplicable
2.Changesinrestrictedshares
□Applicable?Notapplicable
II.Securitiesissuanceandlisting
□Applicable?NotapplicableIII.ParticularsaboutshareholdersandactualcontrolleroftheCompany
Unit:Share
| Totalcommonstockshareholdersinreportingperiod-end | 44,597 | Totalpreferenceshareholderswithvotingrightsrecoveredatendoflastmonthbeforeannualreportdisclosed(ifapplicable)(refertoNote8) | 0 | |||||||
| Particularsaboutsharesheldabove5%byshareholdersortoptenshareholders（Excludingshareslentthroughrefinancing） | ||||||||||
| FullnameofShareholders | Natureofshareholder | Proportionofsharesheld | Totalofcommonsharesheldattheendofreportingperiod | Changesinreportingperiod | Numberofrestrictedsharesheld | Amountofunrestrictedsharesheld | Informationofsharespledged,taggedorfrozen | |||
| Stateofshare | Amount | |||||||||
| ShenzhenAgricultureandFoodInvestmentHoldingGroupCo.,Ltd. | State-ownedlegalperson | 63.79% | 735,237,253 | 0 | 669,184,735 | 66,052,518 | Notapplicable | 0 | ||
| ShenzhenAgriculturalProductsGroupCo.,Ltd | State-ownedlegalperson | 8.23% | 94,832,294 | 0 | 15,384,832 | 79,447,462 | Notapplicable | 0 | ||
| BankofCommunicationsCo.,Ltd.-InvescoGreatWallCSIDividendLowVolatility100ExchangeTradedOpenIndexSecuritiesInvestmentFund | Other | 0.82% | 9,446,710 | 9,446,710 | 0 | 9,446,710 | Notapplicable | 0 | ||
| DongguanFruit, | Dom | 0.75% | 8,698,216 | 0 | 0 | 8,698,216 | Not | 0 | ||
| Vegetable,andNon-stapleFoodTradingMarketCo.,Ltd | esticnon-state-ownedlegalpersons | applicable | ||||||
| GuotaiJunanSecuritiesCo.,Ltd.-TianhongCSIDividendLowVolatility100ExchangeTradedOpenIndexSecuritiesInvestmentFund | Other | 0.38% | 4,329,900 | 4,329,900 | 0 | 4,329,900 | Notapplicable | 0 |
| SunHuiming | Domesticnatureperson | 0.32% | 3,666,652 | 60,000 | 0 | 3,666,652 | Notapplicable | 0 |
| LinJunbo | Domesticnatureperson | 0.32% | 3,647,300 | -1,852,700 | 0 | 3,647,300 | Notapplicable | 0 |
| ZhongZhenxin | Domesticnatureperson | 0.29% | 3,295,500 | 0 | 0 | 3,295,500 | Notapplicable | 0 |
| ChenJiuyang | Domesticnatureperson | 0.26% | 2,991,070 | 80,000 | 0 | 2,991,070 | Notapplicable | 0 |
| HongKongSecuritiesClearingCompany | Foreignlegalperson | 0.26% | 2,946,479 | -2,506,714 | 0 | 2,946,479 | Notapplicable | 0 |
| Strategyinvestororgenerallegalpersonbecomingthetop10shareholdersbyplacingnewshares(ifapplicable)(refertoNote3) | N/A | |||||||
| Explanationonassociatedrelationshipamongtheaforesaidshareholders | ShenzhenSASACdirectlyholds100%equityofShenzhenAgricultureandFoodInvestmentHoldingGroupCo.,Ltd.,andholds34%equityofShenzhenAgriculturalProductsGroupCo.,Ltd.indirectlythroughShenzhenAgricultureandFoodInvestmentHoldingGroupCo.,Ltd.;TheCompanywasnotawareofanyrelatedrelationshipbetweenothershareholdersabove,andwhethertheyarepartiesactinginconcertasdefinedbytheAcquisitionManagementMethodofListedCompany. | |||||||
| Descriptionoftheaboveshareholdersinrelationtodelegate/entrustedvotingrightsandabstentionfromvotingrights. | N/A | |||||||
| Specialnoteonthe | N/A | |||||||
| repurchaseaccountamongthetop10shareholders(ifapplicable)(refertonote11) | ||||
| Particularabouttoptenshareholderswithunrestrictedsharesheld（Excludingshareslentthroughrefinancingandshareslockedbyseniorexecutives） | ||||
| Shareholders’name | AmountofunrestrictedsharesheldatPeriod-end | Sharesheld | ||
| Type | Amount | |||
| ShenzhenAgriculturalProductsGroupCo.,Ltd | 79,447,462 | RMBcommonshares | 79,447,462 | |
| ShenzhenAgricultureandFoodInvestmentHoldingGroupCo.,Ltd. | 66,052,518 | RMBcommonshares | 66,052,518 | |
| BankofCommunicationsCo.,Ltd.-InvescoGreatWallCSIDividendLowVolatility100ExchangeTradedOpenIndexSecuritiesInvestmentFund | 9,446,710 | RMBcommonshares | 9,446,710 | |
| DongguanFruit,Vegetable,andNon-stapleFoodTradingMarketCo.,Ltd | 8,698,216 | RMBcommonshares | 8,698,216 | |
| GuotaiJunanSecuritiesCo.,Ltd.-TianhongCSIDividendLowVolatility100ExchangeTradedOpenIndexSecuritiesInvestmentFund | 4,329,900 | RMBcommonshares | 4,329,900 | |
| SunHuiming | 3,666,652 | Domesticallylistedforeignshares | 3,666,652 | |
| LinJunbo | 3,647,300 | RMBcommonshares | 3,647,300 | |
| ZhongZhenxin | 3,295,500 | RMBcommonshares | 3,295,500 | |
| ChenJiuyang | 2,991,070 | RMBcommonshares | 2,991,070 | |
| HongKongSecuritiesClearingCompany | 2,946,479 | RMBcommonshares | 2,946,479 | |
| Explanationoftheassociationorconcertedactionbetweenthetop10shareholdersofnon-restrictedandtradableshares,aswellasbetweenthetop10shareholdersofnon-restrictedandtradablesharesandthetop10shareholders | ShenzhenSASACdirectlyholds100%equityofShenzhenAgricultureandFoodInvestmentHoldingGroupCo.,Ltd.,andholds34%equityofShenzhenAgriculturalProductsGroupCo.,Ltd.indirectlythroughShenzhenAgricultureandFoodInvestmentHoldingGroupCo.,Ltd.;TheCompanywasnotawareofanyrelatedrelationshipbetweenothershareholdersabove,andwhethertheyarepartiesactinginconcertasdefinedbytheAcquisitionManagementMethodofListedCompany. | |||
| Explanationontheparticipationofthetop10ordinaryshareholdersinmargintradingandsecuritieslendingbusiness(ifany)(seeNote4) | Attheendofreportingperiod,LinJunbo,ashareholderofthecompany,held3,647,300sharesoftheCompanyundercustomercredittradingsecuredsecuritiesaccountthroughChinaMerchantsSecuritiesCo.,Ltd.,andheld0sharesofthecompanyundercommonaccount,totallyholding3,647,300sharesoftheCompany.Duringthereportingperiod,sharesheldbyLinJunbounderthecredittradingsecuredsecuritiesaccountreducedby1,852,700shares,sharesheldbyhimundercommonaccountremainedunchanged,andsharesheldbyLinJunboreducedby1,852,700shares. | |||
Shareholdersholdingmorethan5%oftheshares,thetop10shareholdersandthetop10shareholdersofunrestrictedtradablesharesparticipateinthelendingofsharesintherefinancingbusiness
□Applicable?NotapplicableThetop10shareholdersandthetop10shareholdersofunrestrictedtradableshareshavechangedcomparedwiththepreviousperiodduetotherefinancing,lending/repayment
□Applicable?NotapplicableWhetherthetop10ordinaryshareholdersandthetop10shareholdersofunrestrictedordinarysharesoftheCompanyconductedagreedrepurchasetransactionsduringthereportingperiod
□Yes?NoTheCompany'stop10ordinaryshareholdersandthetop10shareholdersofunrestrictedordinarysharesdidnotcarryoutagreedrepurchasetransactionsduringthereportingperiod.IV.Changesinshareholdingofdirectors,supervisors,andseniormanagement
□Applicable?NotapplicableTherearenochangesinshareholdingofdirectors,supervisors,andseniormanagementinthereportingperiod.Referto2023annualreportfordetails.
V.Changesofcontrollingshareholdersoractualcontrollerinreportingperiod
Changesofcontrollingshareholdersinreportingperiod
□Applicable?NotapplicableTherewasnochangeinthecompany'scontrollingshareholderduringthereportingperiod.Changesofactualcontrollerinthereportingperiod
□Applicable?NotapplicableTheCompanyhadnochangesofactualcontrollerinthereportingperiod.
SectionVIII.PreferredStock
□Applicable?NotapplicableTheCompanyhadnopreferredstockinthePeriod.
SectionIX.CorporateBonds
□Applicable?Notapplicable
SectionX.FinancialReportI.AuditReportWhetherthesemi-annualreportisaudited
□Yes?NoThecompany'ssemi-annualfinancialreporthasnotbeenaudited
II.FinancialStatementStatementinFinancialNotesarecarriedinRMB/CNY
1.ConsolidatedbalancesheetPreparedbySHENZHENCEREALSHOLDINGSCO.,LTD.
June30,2024
InRMB
| Item | Endingbalance | Beginningbalance |
| Currentassets: | ||
| Monetaryfunds | 81,588,655.29 | 236,384,606.60 |
| Settlementprovisions | ||
| Capitallent | ||
| Tradablefinancialassets | 1,122,347.85 | |
| Derivativefinancialassets | ||
| Notereceivable | 113,932.00 | |
| Accountreceivable | 249,497,706.82 | 179,828,493.98 |
| Receivablefinancing | ||
| Accountspaidinadvance | 68,149,054.62 | 17,234,701.92 |
| Insurancereceivable | ||
| Reinsurancereceivables | ||
| Contractreserveofreinsurancereceivable | ||
| Otheraccountreceivable | 23,652,977.28 | 29,127,689.89 |
| Including:Interestreceivable | ||
| Dividendreceivable | ||
| Buyingbackthesaleoffinancialassets | ||
| Inventories | 3,719,257,500.78 | 3,458,443,989.04 |
| Including:datasource | ||
| Contractassets | ||
| Assetsheldforsale | 121,126,137.62 | |
| Non-currentassetduewithinoneyear | ||
| Othercurrentassets | 59,770,157.64 | 105,857,923.48 |
| Totalcurrentassets | 4,201,916,052.43 | 4,149,239,822.38 |
| Non-currentassets: | ||
| Loansandpaymentsonbehalf | ||
| Debtinvestment |
| Otherdebtinvestment | ||
| Long-termaccountreceivable | ||
| Long-termequityinvestment | 72,286,411.60 | 74,008,926.48 |
| Investmentinotherequityinstrument | ||
| Othernon-currentfinancialassets | 57,500.00 | 57,500.00 |
| Investmentrealestate | 255,521,705.63 | 263,597,031.89 |
| Fixedassets | 2,127,018,321.47 | 2,171,969,725.22 |
| Constructioninprogress | 63,236,301.49 | 51,288,301.16 |
| Productivebiologicalasset | 353,770.80 | 358,617.00 |
| Oilandgasasset | ||
| Right-of-useassets | 46,685,705.34 | 56,933,148.16 |
| Intangibleassets | 532,723,888.41 | 546,325,555.22 |
| Including:Dataresources | ||
| Expenseonresearchanddevelopment | ||
| Including:Dataresources | ||
| Goodwill | ||
| Long-termexpensestobeapportioned | 21,705,333.36 | 24,694,318.05 |
| Deferredincometaxasset | 61,106,492.88 | 52,757,295.38 |
| Othernon-currentasset | 7,646,075.96 | 7,297,950.00 |
| Totalnon-currentasset | 3,188,341,506.94 | 3,249,288,368.56 |
| Totalassets | 7,390,257,559.37 | 7,398,528,190.94 |
| Currentliabilities: | ||
| Short-termloans | 1,471,993,682.19 | 1,223,462,519.16 |
| Loanfromcentralbank | ||
| Capitalborrowed | ||
| Tradablefinancialliability | ||
| Derivativefinancialliability | ||
| Notepayable | ||
| Accountpayable | 353,377,813.98 | 336,165,196.80 |
| Accountsreceivedinadvance | 1,503,397.55 | 1,084,701.60 |
| Contractliability | 93,304,109.71 | 86,566,253.73 |
| Sellingfinancialassetofrepurchase | ||
| Absorbingdepositandinterbankdeposit | ||
| Securitytradingofagency | ||
| Securitysalesofagency | ||
| Wagepayable | 214,147,515.65 | 266,214,663.20 |
| Taxespayable | 61,651,513.65 | 86,906,785.70 |
| Otheraccountpayable | 269,557,469.58 | 277,687,590.83 |
| Including:Interestpayable | ||
| Dividendpayable | 2,933,690.04 | 2,933,690.04 |
| handlefeeandcommissionpayable | ||
| Reinsurancepayable | ||
| Liabilityheldforsale | 66,579,828.59 | |
| Non-currentliabilitiesduewithinoneyear | 20,693,439.58 | 22,805,473.76 |
| Othercurrentliabilities | 4,029,143.68 | 3,896,140.56 |
| Totalcurrentliabilities | 2,490,258,085.57 | 2,371,369,153.93 |
| Non-currentliabilities: | ||
| Insurancecontractreserve | ||
| Long-termloans | ||
| Bondspayable | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities |
| Leaseliability | 29,266,103.49 | 37,744,951.74 |
| Long-termaccountpayable | 18,183,091.89 | 17,994,633.05 |
| Long-termwagespayable | ||
| Accrualliability | ||
| Deferredincome | 82,894,625.34 | 82,819,873.24 |
| Deferredincometaxliabilities | 10,757,664.29 | 10,937,920.46 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 141,101,485.01 | 149,497,378.49 |
| Totalliabilities | 2,631,359,570.58 | 2,520,866,532.42 |
| Owner’sequity: | ||
| Sharecapital | 1,152,535,254.00 | 1,152,535,254.00 |
| Otherequityinstrument | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Capitalpublicreserve | 1,260,757,114.42 | 1,260,757,114.42 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | ||
| Reasonablereserve | 1,096,481.60 | 741,968.19 |
| Surpluspublicreserve | 483,103,366.38 | 483,103,366.38 |
| Provisionofgeneralrisk | ||
| Retainedprofit | 1,825,838,200.83 | 1,927,314,400.85 |
| Totalowner’sequityattributabletoparentcompany | 4,723,330,417.23 | 4,824,452,103.84 |
| Minorityinterests | 35,567,571.56 | 53,209,554.68 |
| Totalowner’sequity | 4,758,897,988.79 | 4,877,661,658.52 |
| Totalliabilitiesandowner’sequity | 7,390,257,559.37 | 7,398,528,190.94 |
LegalRepresentative:WangZhikaiPersoninchargeofaccountingworks:LuYuhePersoninchargeofaccountinginstitute:LuChengjun
2.Balancesheetofparentcompany
InRMB
| Item | Endingbalance | Beginningbalance |
| Currentassets: | ||
| Monetaryfunds | 4,817,219.08 | 149,617,836.08 |
| Tradablefinancialassets | 1,122,347.85 | |
| Derivativefinancialassets | ||
| Notereceivable | ||
| Accountreceivable | 109,789,966.50 | 65,714,555.94 |
| Receivablefinancing | ||
| Accountspaidinadvance | 5,476.00 | 336,007.79 |
| Otheraccountreceivable | 1,631,458,762.44 | 1,624,337,855.63 |
| Including:Interestreceivable | ||
| Dividendreceivable | ||
| Inventories | ||
| Including:Dataresources | ||
| Contractassets | ||
| Assetsheldforsale | 21,675,000.00 | |
| Non-currentassetsmaturingwithinoneyear |
| Othercurrentassets | 14,424.19 | 55,135,837.73 |
| Totalcurrentassets | 1,746,085,848.21 | 1,917,939,441.02 |
| Non-currentassets: | ||
| Debtinvestment | ||
| Otherdebtinvestment | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 4,026,844,425.09 | 4,026,844,425.09 |
| Investmentinotherequityinstrument | ||
| Othernon-currentfinancialassets | ||
| Investmentrealestate | 15,335,938.06 | 15,571,733.20 |
| Fixedassets | 31,713,701.81 | 32,858,541.01 |
| Constructioninprogress | ||
| Productivebiologicalassets | 353,770.80 | 358,617.00 |
| Oilandnaturalgasassets | ||
| Right-of-useassets | ||
| Intangibleassets | 20,504,847.78 | 23,006,791.89 |
| Including:Dataresources | ||
| Researchanddevelopmentcosts | ||
| Including:Dataresources | ||
| Goodwill | ||
| Long-termdeferredexpenses | 1,864,664.41 | 2,291,236.03 |
| Deferredincometaxassets | 10,260,054.61 | 10,260,054.61 |
| Othernon-currentassets | 4,092,783.72 | 3,744,657.76 |
| Totalnon-currentassets | 4,110,970,186.28 | 4,114,936,056.59 |
| Totalassets | 5,857,056,034.49 | 6,032,875,497.61 |
| Currentliabilities: | ||
| Short-termborrowings | 318,114,877.20 | |
| Tradablefinancialliability | ||
| Derivativefinancialliability | ||
| Notespayable | ||
| Accountpayable | ||
| Accountsreceivedinadvance | ||
| Contractliability | ||
| Wagepayable | 35,977,962.24 | 31,524,389.29 |
| Taxespayable | 3,512,229.69 | 2,801,152.52 |
| Otheraccountspayable | 852,824,853.86 | 1,200,576,358.07 |
| Including:Interestpayable | ||
| Dividendpayable | 2,933,690.04 | 2,933,690.04 |
| Liabilityheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | ||
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 1,210,429,922.99 | 1,234,901,899.88 |
| Non-currentliabilities: | ||
| Long-termloans | ||
| Bondspayable | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Leaseliability | ||
| Long-termaccountpayable | ||
| Longtermemployeecompensationpayable | ||
| Accruedliabilities | ||
| Deferredincome | ||
| Deferredincometaxliabilities |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | ||
| Totalliabilities | 1,210,429,922.99 | 1,234,901,899.88 |
| Owners’equity: | ||
| Sharecapital | 1,152,535,254.00 | 1,152,535,254.00 |
| Otherequityinstrument | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Capitalpublicreserve | 3,018,106,568.27 | 3,018,106,568.27 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | ||
| Specialreserve | ||
| Surplusreserve | 210,698,938.24 | 210,698,938.24 |
| Retainedprofit | 265,285,350.99 | 416,632,837.22 |
| Totalowner’sequity | 4,646,626,111.50 | 4,797,973,597.73 |
| Totalliabilitiesandowner’sequity | 5,857,056,034.49 | 6,032,875,497.61 |
3.Consolidatedprofitstatement
InRMB
| Item | 2024semi-annual | 2023semi-annual |
| I.Totaloperatingincome | 2,416,452,919.61 | 2,831,996,801.82 |
| Including:Operatingincome | 2,416,452,919.61 | 2,831,996,801.82 |
| Interestincome | ||
| Insurancegained | ||
| handlefeeandcommissionincome | ||
| II.Totaloperatingcost | 2,188,865,873.82 | 2,582,248,916.32 |
| Including:Operatingcost | 1,985,425,763.32 | 2,357,438,707.57 |
| Interestexpense | ||
| Handlefeeandcommissionexpense | ||
| Cashsurrendervalue | ||
| Netamountofexpenseofcompensation | ||
| Netamountofwithdrawalofinsurancecontractreserve | ||
| Bonusexpenseofguaranteeslip | ||
| Reinsuranceexpense | ||
| Taxesandsurcharge | 8,669,435.06 | 8,831,089.05 |
| Salesexpense | 73,460,826.96 | 81,081,244.08 |
| Administrativeexpense | 94,726,723.75 | 104,657,015.04 |
| R&Dexpense | 9,813,271.21 | 9,432,745.24 |
| Financialexpense | 16,769,853.52 | 20,808,115.34 |
| Including:Interestexpenses | 17,092,597.32 | 20,495,411.83 |
| Interestincome | 952,349.13 | 315,939.31 |
| Add:Otherincome | 8,396,165.78 | 5,788,072.14 |
| Investmentincome(Lossislistedwith“-”) | 3,368,123.85 | 2,402,184.67 |
| Including:Investmentincomeonaffiliatedcompanyandjointventure | -2,195,664.82 | -705,464.09 |
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost | ||
| Exchangeincome(Lossis |
| listedwith“-”) | ||
| Netexposurehedgingincome(Lossislistedwith“-”) | ||
| Incomefromchangeoffairvalue(Lossislistedwith“-”) | 174,961.34 | |
| Lossofcreditimpairment(Lossislistedwith“-”) | -69,733.49 | 670,247.23 |
| Lossesofdevaluationofasset(Lossislistedwith“-”) | -79,774,391.84 | -46,633,952.80 |
| Incomefromassetsdisposal(Lossislistedwith“-”) | 5,219,432.33 | 1,587,775.37 |
| III.Operatingprofit(Lossislistedwith“-”) | 164,726,642.42 | 213,737,173.45 |
| Add:Non-operatingincome | 72,146.65 | 338,644.53 |
| Less:Non-operatingexpense | 230,544.48 | 195,216.49 |
| IV.Totalprofit(Lossislistedwith“-”) | 164,568,244.59 | 213,880,601.49 |
| Less:Incometaxexpense | 34,204,824.86 | 46,217,947.45 |
| V.Netprofit(Netlossislistedwith“-”) | 130,363,419.73 | 167,662,654.04 |
| (i)Classifybybusinesscontinuity | ||
| 1.continuousoperatingnetprofit(netlosslistedwith‘-”) | 130,363,419.73 | 167,662,654.04 |
| 2.terminationofnetprofit(netlosslistedwith‘-”) | ||
| (ii)Classifybyownership | ||
| 1.Netprofitattributabletoowner’sofparentcompany | 129,030,850.78 | 168,149,768.31 |
| 2.Minorityshareholders’gains/losses | 1,332,568.95 | -487,114.27 |
| VI.Netafter-taxofothercomprehensiveincome | ||
| Netafter-taxofothercomprehensiveincomeattributabletoownersofparentcompany | ||
| (I)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss | ||
| 1.Changesofthedefinedbenefitplansthatre-measured | ||
| 2.Othercomprehensiveincomeunderequitymethodthatcannotbetransfertogain/loss | ||
| 3.Changeoffairvalueofinvestmentinotherequityinstrument | ||
| 4.Fairvaluechangeofenterprise'screditrisk | ||
| 5.Other | ||
| (ii)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss | ||
| 1.Othercomprehensiveincomeunderequitymethodthatcantransfertogain/loss | ||
| 2.Changeoffairvalueofotherdebtinvestment | ||
| 3.Amountoffinancialassetsre-classifytoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionforotherdebtinvestment | ||
| 5.Cashflowhedgingreserve | ||
| 6.Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements | ||
| 7.Other | ||
| Netafter-taxofothercomprehensive |
| incomeattributabletominorityshareholders | ||
| VII.Totalcomprehensiveincome | 130,363,419.73 | 167,662,654.04 |
| TotalcomprehensiveincomeattributabletoownersofparentCompany | 129,030,850.78 | 168,149,768.31 |
| Totalcomprehensiveincomeattributabletominorityshareholders | 1,332,568.95 | -487,114.27 |
| VIII.Earningspershare: | ||
| (i)Basicearningspershare | 0.1120 | 0.1459 |
| (ii)Dilutedearningspershare | 0.1120 | 0.1459 |
Asfortheenterprisecombinedunderthesamecontrol,thenetprofitachievedbythemergedpartybeforecombinationis0.00
yuanandthenetprofitachievedbythemergedpartyinlastperiodis0.00yuan.LegalRepresentative:WangZhikaiPersoninchargeofaccountingworks:LuYuhePersoninchargeofaccountinginstitute:LuChengjun
4.Profitstatementofparentcompany
InRMB
| Item | 2024semi-annual | 2023semi-annual |
| I.Operatingincome | 81,710,414.30 | 80,465,663.56 |
| Less:Operatingcost | 235,795.14 | 235,795.14 |
| Taxesandsurcharge | 279,398.08 | 226,880.22 |
| Salesexpenses | ||
| Administrationexpenses | 36,208,920.45 | 31,183,573.58 |
| R&Dexpenses | ||
| Financialexpenses | -19,356,764.73 | -14,476,713.20 |
| Including:Interestexpenses | 1,953,504.26 | 1,153,273.64 |
| Interestincome | 21,577,083.48 | 15,881,657.87 |
| Add:Otherincome | 154,328.97 | 382,620.07 |
| Investmentincome(Lossislistedwith“-”) | 14,677,769.24 | 975,629.57 |
| Including:InvestmentincomeonaffiliatedCompanyandjointventure | ||
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost(Lossislistedwith“-”) | ||
| Netexposurehedgingincome(Lossislistedwith“-”) | ||
| Changingincomeoffairvalue(Lossislistedwith“-”) | -113,524.84 | |
| Lossofcreditimpairment(Lossislistedwith“-”) | 435.73 | |
| Lossesofdevaluationofasset(Lossislistedwith“-”) | ||
| Incomeondisposalofassets(Lossislistedwith“-”) | ||
| II.Operatingprofit(Lossislistedwith“-”) | 79,175,599.30 | 64,540,852.62 |
| Add:Non-operatingincome | 5,000.02 | |
| Less:Non-operatingexpense | 16,034.73 |
| III.TotalProfit(Lossislistedwith“-”) | 79,159,564.57 | 64,545,852.64 |
| Less:Incometax | 24,615,419.98 | |
| IV.Netprofit(Netlossislistedwith“-”) | 79,159,564.57 | 39,930,432.66 |
| (i)continuousoperatingnetprofit(netlosslistedwith‘-”) | 79,159,564.57 | 39,930,432.66 |
| (ii)terminationofnetprofit(netlosslistedwith‘-”) | ||
| V.Netafter-taxofothercomprehensiveincome | ||
| (i)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss | ||
| 1.Changesofthedefinedbenefitplansthatre-measured | ||
| 2.Othercomprehensiveincomeunderequitymethodthatcannotbetransfertogain/loss | ||
| 3.Changeoffairvalueofinvestmentinotherequityinstrument | ||
| 4.Fairvaluechangeofenterprise'screditrisk | ||
| 5.Other | ||
| (ii)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss | ||
| 1.Othercomprehensiveincomeunderequitymethodthatcantransfertogain/loss | ||
| 2.Changeoffairvalueofotherdebtinvestment | ||
| 3.Amountoffinancialassetsre-classifytoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionforotherdebtinvestment | ||
| 5.Cashflowhedgingreserve | ||
| 6.Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements | ||
| 7.Other | ||
| VI.Totalcomprehensiveincome | 79,159,564.57 | 39,930,432.66 |
| VII.Earningspershare: | ||
| (i)Basicearningspershare | ||
| (ii)Dilutedearningspershare |
5.Consolidatedcashflowstatement
InRMB
| Item | 2024semi-annual | 2023semi-annual |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 2,416,339,686.68 | 2,908,830,118.57 |
| Netincreaseofcustomerdepositandinterbankdeposit | ||
| Netincreaseofloanfromcentralbank | ||
| Netincreaseofcapitalborrowedfromotherfinancialinstitution | ||
| Cashreceivedfromoriginalinsurancecontractfee |
| Netcashreceivedfromreinsurancebusiness | ||
| Netincreaseofinsuredsavingsandinvestment | ||
| Cashreceivedfrominterest,handlefeeandcommission | ||
| Netincreaseofcapitalborrowed | ||
| Netincreaseofreturnedbusinesscapital | ||
| Netcashreceivedbyagentsinsaleandpurchaseofsecurities | ||
| Write-backoftaxreceived | 1,931,425.08 | 924,811.35 |
| Othercashreceivedconcerningoperatingactivities | 1,288,201,410.88 | 335,627,204.39 |
| Subtotalofcashinflowarisingfromoperatingactivities | 3,706,472,522.64 | 3,245,382,134.31 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | 2,473,823,154.14 | 2,346,304,152.82 |
| Netincreaseofcustomerloansandadvances | ||
| Netincreaseofdepositsincentralbankandinterbank | ||
| Cashpaidfororiginalinsurancecontractcompensation | ||
| Netincreaseofcapitallent | ||
| Cashpaidforinterest,handlefeeandcommission | ||
| Cashpaidforbonusofguaranteeslip | ||
| Cashpaidto/forstaffandworkers | 182,640,622.80 | 238,939,457.87 |
| Taxespaid | 91,893,885.41 | 133,546,738.58 |
| Othercashpaidconcerningoperatingactivities | 1,116,646,304.70 | 443,088,432.83 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 3,865,003,967.05 | 3,161,878,782.10 |
| Netcashflowsarisingfromoperatingactivities | -158,531,444.41 | 83,503,352.21 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | 315,621,806.51 | 719,000,000.00 |
| Cashreceivedfrominvestmentincome | 5,305,517.33 | 2,840,292.60 |
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | 17,286,128.50 | 2,048,910.70 |
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | 13,241,942.62 | |
| Othercashreceivedconcerninginvestingactivities | ||
| Subtotalofcashinflowfrominvestingactivities | 351,455,394.96 | 723,889,203.30 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 59,176,182.44 | 76,150,532.92 |
| Cashpaidforinvestment | 285,000,000.00 | 899,000,000.00 |
| Netincreaseofmortgagedloans | ||
| Netcashreceivedfromsubsidiariesandotherunitsobtained | ||
| Othercashpaidconcerninginvestingactivities | 3,784,107.76 | |
| Subtotalofcashoutflowfrominvestingactivities | 344,176,182.44 | 978,934,640.68 |
| Netcashflowsarisingfrominvestingactivities | 7,279,212.52 | -255,045,437.38 |
| III.Cashflowsarisingfromfinancing |
| activities: | ||
| Cashreceivedfromabsorbinginvestment | 490,000.00 | |
| Including:Cashreceivedfromabsorbingminorityshareholders’investmentbysubsidiaries | 490,000.00 | |
| Cashreceivedfromloans | 2,045,107,250.15 | 1,418,006,020.58 |
| Othercashreceivedconcerningfinancingactivities | ||
| Subtotalofcashinflowfromfinancingactivities | 2,045,107,250.15 | 1,418,496,020.58 |
| Cashpaidforsettlingdebts | 1,794,353,974.79 | 887,417,617.78 |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 245,803,739.44 | 306,311,864.63 |
| Including:Dividendandprofitofminorityshareholderpaidbysubsidiaries | ||
| Othercashpaidconcerningfinancingactivities | 12,238,276.69 | 9,650,074.57 |
| Subtotalofcashoutflowfromfinancingactivities | 2,052,395,990.92 | 1,203,379,556.98 |
| Netcashflowsarisingfromfinancingactivities | -7,288,740.77 | 215,116,463.60 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | 17,012.53 | 3,442,282.05 |
| V.Netincreaseofcashandcashequivalents | -158,523,960.13 | 47,016,660.48 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 232,389,486.42 | 53,095,469.26 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 73,865,526.29 | 100,112,129.74 |
6.Cashflowstatementofparentcompany
InRMB
| Item | 2024semi-annual | 2023semi-annual |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 326,750,573.00 | 408,104,768.00 |
| Write-backoftaxreceived | 193,577.27 | |
| Othercashreceivedconcerningoperatingactivities | 2,046,639,594.59 | 1,220,117,754.90 |
| Subtotalofcashinflowarisingfromoperatingactivities | 2,373,390,167.59 | 1,628,416,100.17 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | ||
| Cashpaidto/forstaffandworkers | 26,547,520.98 | 30,688,663.89 |
| Taxespaid | 416,585.00 | 27,682,272.82 |
| Othercashpaidconcerningoperatingactivities | 2,634,761,716.00 | 1,162,985,810.35 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 2,661,725,821.98 | 1,221,356,747.06 |
| Netcashflowsarisingfromoperatingactivities | -288,335,654.39 | 407,059,353.11 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | 265,621,806.51 | 279,000,000.00 |
| Cashreceivedfrominvestmentincome | 13,838,029.70 | 1,245,793.96 |
| Netcashreceivedfromdisposalof |
| fixed,intangibleandotherlong-termassets | ||
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | 16,360,810.20 | |
| Othercashreceivedconcerninginvestingactivities | 382,533.35 | |
| Subtotalofcashinflowfrominvestingactivities | 295,820,646.41 | 280,628,327.31 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 2,600,123.18 | 5,580,933.36 |
| Cashpaidforinvestment | 235,000,000.00 | 274,000,000.00 |
| Netcashreceivedfromsubsidiariesandotherunitsobtained | ||
| Othercashpaidconcerninginvestingactivities | 47,100,000.00 | |
| Subtotalofcashoutflowfrominvestingactivities | 237,600,123.18 | 326,680,933.36 |
| Netcashflowsarisingfrominvestingactivities | 58,220,523.23 | -46,052,606.05 |
| III.Cashflowsarisingfromfinancingactivities: | ||
| Cashreceivedfromabsorbinginvestment | ||
| Cashreceivedfromloans | 1,029,128,411.85 | |
| Othercashreceivedconcerningfinancingactivities | ||
| Subtotalofcashinflowfromfinancingactivities | 1,029,128,411.85 | |
| Cashpaidforsettlingdebts | 711,351,213.44 | 70,000,000.00 |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 232,463,872.40 | 289,587,041.21 |
| Othercashpaidconcerningfinancingactivities | ||
| Subtotalofcashoutflowfromfinancingactivities | 943,815,085.84 | 359,587,041.21 |
| Netcashflowsarisingfromfinancingactivities | 85,313,326.01 | -359,587,041.21 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | 1,188.15 | |
| V.Netincreaseofcashandcashequivalents | -144,800,617.00 | 1,419,705.85 |
| Add:Beginningbalanceofcashandcashequivalents | 149,617,836.08 | 961,310.17 |
| VI.Endingbalanceofcashandcashequivalents | 4,817,219.08 | 2,381,016.02 |
7.Consolidatedstatementofchangesinowners’equity
Currentperiod
| Item | 2024semi-annual | ||||||||||||||
| Owners’equityattributabletotheparentCompany | Minorityinterests | Totalowners’equity | |||||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Provisionofgeneralrisk | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Perpetualcapitalsecu | Other | |||||||||||||
| rities | ||||||||||||||
| I.Balanceattheendofthelastyear | 1,152,535,254.00 | 1,260,757,114.42 | 741,968.19 | 483,103,366.38 | 1,927,314,400.85 | 4,824,452,103.84 | 53,209,554.68 | 4,877,661,658.52 | ||||||
| Add:Changesofaccountingpolicy | ||||||||||||||
| Errorcorrectionofthelastperiod | ||||||||||||||
| Other | ||||||||||||||
| II.Balanceatthebeginningofthisyear | 1,152,535,254.00 | 1,260,757,114.42 | 741,968.19 | 483,103,366.38 | 1,927,314,400.85 | 4,824,452,103.84 | 53,209,554.68 | 4,877,661,658.52 | ||||||
| III.Increase/Decreaseinreportingperiod(Decreaseislistedwith“-”) | 354,513.41 | -101,476,200.02 | -101,121,686.61 | -17,641,983.12 | -118,763,669.73 | |||||||||
| (i)Totalcomprehensiveincome | 129,030,850.78 | 129,030,850.78 | 1,332,568.95 | 130,363,419.73 | ||||||||||
| (ii)Owners’devotedanddecreasedcapital | -18,974,552.07 | -18,974,552.07 | ||||||||||||
| 1.Commonsharesinvestedbyshareholders | ||||||||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||||||||||
| 4.Other | -18,974,552.07 | -18,974,552.07 | ||||||||||||
| (III)Profitdistribution | -230,507,050.80 | -230,507,050.80 | -230,507,050.80 | |||||||||||
| 1.Withdrawalofsurplusreserves | ||||||||||||||
| 2.Withdrawalofgeneralriskprovisions | ||||||||||||||
| 3.Distributionforowners(or | - | - | - |
InRMBLastperiod
InRMB
| Item | 2023semi-annual | ||||||||||||||
| Owners’equityattributabletotheparentCompany | Minorityinterests | Totalowners’equity | |||||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Provisionofgeneralrisk | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Perpetualcapitalsecuritie | Other | |||||||||||||
shareholders)
| shareholders) | 230,507,050.80 | 230,507,050.80 | 230,507,050.80 | |||||||||
| 4.Other | ||||||||||||
| (IV)Carryingforwardinternalowners’equity | ||||||||||||
| 1.Capitalreservesconvertedtocapital(sharecapital) | ||||||||||||
| 2.Surplusreservesconvertedtocapital(sharecapital) | ||||||||||||
| 3.Remedyinglosswithsurplusreserve | ||||||||||||
| 4．Carry-overretainedearningsfromthedefinedbenefitplans | ||||||||||||
| 5．Carry-overretainedearningsfromothercomprehensiveincome | ||||||||||||
| 6.Other | ||||||||||||
| (V)Reasonablereserve | 354,513.41 | 354,513.41 | 354,513.41 | |||||||||
| 1.Withdrawalinthereportingperiod | 836,287.66 | 836,287.66 | 836,287.66 | |||||||||
| 2.Usageinthereportingperiod | -481,774.25 | -481,774.25 | -481,774.25 | |||||||||
| (VI)Others | ||||||||||||
| IV.Balanceattheendofthereportingperiod | 1,152,535,254.00 | 1,260,757,114.42 | 1,096,481.60 | 483,103,366.38 | 1,825,838,200.83 | 4,723,330,417.23 | 35,567,571.56 | 4,758,897,988.79 |
| s | ||||||||||||||
| I.Balanceattheendofthelastyear | 1,152,535,254.00 | 1,259,639,656.65 | 220,301.70 | 439,624,164.67 | 1,910,954,084.79 | 4,762,973,461.81 | 69,511,722.40 | 4,832,485,184.21 | ||||||
| Add:Changesofaccountingpolicy | ||||||||||||||
| Errorcorrectionofthelastperiod | ||||||||||||||
| Other | ||||||||||||||
| II.Balanceatthebeginningofthisyear | 1,152,535,254.00 | 1,259,639,656.65 | 220,301.70 | 439,624,164.67 | 1,910,954,084.79 | 4,762,973,461.81 | 69,511,722.40 | 4,832,485,184.21 | ||||||
| III.Increase/Decreaseinreportingperiod(Decreaseislistedwith“-”) | 172,922.81 | -119,984,045.19 | -119,811,122.38 | -28,142.46 | -119,839,264.84 | |||||||||
| (i)Totalcomprehensiveincome | 168,149,768.31 | 168,149,768.31 | -487,114.27 | 167,662,654.04 | ||||||||||
| (ii)Owners’devotedanddecreasedcapital | 490,000.00 | 490,000.00 | ||||||||||||
| 1.Commonsharesinvestedbyshareholders | 490,000.00 | 490,000.00 | ||||||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||||||||||
| 4.Other | ||||||||||||||
| (III)Profitdistribution | -288,133,813.50 | -288,133,813.50 | -31,028.19 | -288,164,841.69 | ||||||||||
| 1.Withdrawalofsurplusreserves | 0.00 | |||||||||||||
| 2.Withdrawalofgeneralriskprovisions | -288,133,813.50 | -288,133,813.50 | -31,028.19 | -288,164,841.69 | ||||||||||
| 3.Distributionforowners(orshareholders) | ||||||||||||||
| 4.Other | ||||||||||||||
| (IV)Carryingforwardinternalowners’equity |
| 1.Capitalreservesconvertedtocapital(sharecapital) | ||||||||||||
| 2.Surplusreservesconvertedtocapital(sharecapital) | ||||||||||||
| 3.Remedyinglosswithsurplusreserve | ||||||||||||
| 4．Carry-overretainedearningsfromthedefinedbenefitplans | ||||||||||||
| 5．Carry-overretainedearningsfromothercomprehensiveincome | ||||||||||||
| 6.Other | ||||||||||||
| (V)Reasonablereserve | 172,922.81 | 172,922.81 | 172,922.81 | |||||||||
| 1.Withdrawalinthereportingperiod | 880,675.98 | 880,675.98 | 880,675.98 | |||||||||
| 2.Usageinthereportingperiod | 707,753.17 | 707,753.17 | 707,753.17 | |||||||||
| (VI)Others | ||||||||||||
| IV.Balanceattheendofthereportingperiod | 1,152,535,254.00 | 1,259,639,656.65 | 393,224.51 | 439,624,164.67 | 1,790,970,039.60 | 4,643,162,339.43 | 69,483,579.94 | 4,712,645,919.37 |
8.Statementofchangesinowners’equity(parentcompany)
Currentperiod
InRMB
| Item | 2024semi-annual | |||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Retainedprofit | Other | Totalowners’equity | |||
| Preferredstock | Perpetualcapitalsecurities | Other | ||||||||||
| I.Balanceattheendofthelastyear | 1,152,535,254.00 | 3,018,106,568.27 | 210,698,938.24 | 416,632,837.22 | 4,797,973,597.73 | |||||||
| Add:Changesofaccountingpolicy | ||||||||||||
| Errorcorrectionofthelastperiod | ||||||||||||
| Other | ||||||||||||
| II.Balanceatthebeginningofthisyear | 1,152,535,254.00 | 3,018,106,568.27 | 210,698,938.24 | 416,632,837.22 | 4,797,973,597.73 | |||
| III.Increase/Decreaseinreportingperiod(Decreaseislistedwith“-”) | -151,347,486.23 | -151,347,486.23 | ||||||
| (i)Totalcomprehensiveincome | 79,159,564.57 | 79,159,564.57 | ||||||
| (ii)Owners’devotedanddecreasedcapital | ||||||||
| 1.Commonsharesinvestedbyshareholders | ||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||||
| 4.Other | ||||||||
| (III)Profitdistribution | -230,507,050.80 | -230,507,050.80 | ||||||
| 1.Withdrawalofsurplusreserves | ||||||||
| 2.Distributionforowners(orshareholders) | -230,507,050.80 | -230,507,050.80 | ||||||
| 3.Other | ||||||||
| (IV)Carryingforwardinternalowners’equity | ||||||||
| 1.Capitalreservesconvertedtocapital(sharecapital) | ||||||||
| 2.Surplusreservesconvertedtocapital(sharecapital) | ||||||||
| 3.Remedyinglosswithsurplusreserve | ||||||||
| 4．Carry-overretainedearningsfromthedefinedbenefitplans | ||||||||
| 5．Carry-overretainedearningsfromothercomprehensiveincome |
| 6.Other | ||||||||
| (V)Reasonablereserve | ||||||||
| 1.Withdrawalinthereportingperiod | ||||||||
| 2.Usageinthereportingperiod | ||||||||
| (VI)Others | ||||||||
| IV.Balanceattheendofthereportingperiod | 1,152,535,254.00 | 3,018,106,568.27 | 210,698,938.24 | 265,285,350.99 | 4,646,626,111.50 |
Lastperiod
InRMB
| Item | 2023semi-annual | |||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Retainedprofit | Other | Totalowners’equity | |||
| Preferredstock | Perpetualcapitalsecurities | Other | ||||||||||
| I.Balanceattheendofthelastyear | 1,152,535,254.00 | 3,018,106,568.27 | 167,219,736.53 | 313,453,835.38 | 4,651,315,394.18 | |||||||
| Add:Changesofaccountingpolicy | ||||||||||||
| Errorcorrectionofthelastperiod | ||||||||||||
| Other | ||||||||||||
| II.Balanceatthebeginningofthisyear | 1,152,535,254.00 | 3,018,106,568.27 | 167,219,736.53 | 313,453,835.38 | 4,651,315,394.18 | |||||||
| III.Increase/Decreaseinreportingperiod(Decreaseislistedwith“-”) | -248,203,380.84 | -248,203,380.84 | ||||||||||
| (i)Totalcomprehensiveincome | 39,930,432.66 | 39,930,432.66 | ||||||||||
| (ii)Owners’devotedanddecreasedcapital | ||||||||||||
| 1.Commonsharesinvestedbyshareholders | ||||||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||||||||
| 4.Other | ||||||||||||
| (III)Profitdistribution | -288,13 | -288,13 | ||||||||||
| 3,813.50 | 3,813.50 | |||||||
| 1.Withdrawalofsurplusreserves | ||||||||
| 2.Distributionforowners(orshareholders) | -288,133,813.50 | -288,133,813.50 | ||||||
| 3.Other | ||||||||
| (IV)Carryingforwardinternalowners’equity | ||||||||
| 1.Capitalreservesconvertedtocapital(sharecapital) | ||||||||
| 2.Surplusreservesconvertedtocapital(sharecapital) | ||||||||
| 3.Remedyinglosswithsurplusreserve | ||||||||
| 4．Carry-overretainedearningsfromthedefinedbenefitplans | ||||||||
| 5．Carry-overretainedearningsfromothercomprehensiveincome | ||||||||
| 6.Other | ||||||||
| (V)Reasonablereserve | ||||||||
| 1.Withdrawalinthereportingperiod | ||||||||
| 2.Usageinthereportingperiod | ||||||||
| (VI)Others | ||||||||
| IV.Balanceattheendofthereportingperiod | 1,152,535,254.00 | 3,018,106,568.27 | 167,219,736.53 | 65,250,454.54 | 4,403,112,013.34 |
III.BasicinformationofCompany
1.CompanyprofileShenzhenCerealsHoldingsCo.,Ltd.(formerlytheShenzhenShenbaoIndustrialCo.,Ltd.,hereinafterreferredtoas“SZCH”,“Company”or“theCompany”),formerlynamedShenzhenShenbaoCannedFoodCompany,obtainedapproval(Document(1991)No.978)fromShenzhenMunicipalPeople’sGovernmenttochangetothenameasShenzhenShenbaoIndustrialCo.,Ltd.onAugust1991.ApprovedbythePeople’sBankofChina(Document(1991)No.126),theCompanywaslistedonShenzhenStockExchange.TheCompanybelongstothegrain,oil,foodandbeverageindustry.ThecumulativeamountofsharesissuedbytheCompanywas1,152,535,254shareswithregisteredcapitalof1,152,535,254.00yuan.
Registeredaddress:Shenzhen,GuangdongProvince;HQoftheCompany:8/F,TowerB,No.4Building,SoftwareIndustryBase,SouthDistrict,Science&TechnologyPark,XuefuRd.,YuehaiStreet,NanshanDistrict,Shenzhen.MainbusinessoftheCompany:wholesaleandretailbusiness,foodprocessingandmanufacturingbusiness,leasingandbusinessservicebusiness.Thewholesaleandretailbusinessmainlyinvolvesthesalesofgrainandoilproductssuchasrice,wheat,rice,corn,barley,sorghum,edibleoil,etc.,aswellasfinetea,beveragesandcondiments.Thefoodprocessingandmanufacturingbusinessmainlyincludestheprocessingofflour,rice,edibleoil,teaandnaturalplantextracts,beverages,condiments,etc.Theleasingandbusinessservicebusinessprovidesgrain,oilandfoodandbeverageimportandexporttrade,warehousingandstorage,logisticsanddistribution,qualitytesting,informationtechnologyservices,propertyleasingandmanagement,commercialoperationmanagementandotherservicesforallkindsofcustomersupstreamanddownstreamoftheindustrialchain.TheparententerpriseoftheCompanyisShenzhenFoodMaterialsGroupCo.,LtdandtheactualcontrolleroftheCompanyisShenzhenMunicipalPeople’sGovernmentState-ownedAssetsSupervision&AdministrationCommission.
IV.Basisofpreparationoffinancialstatements
1.BasisofpreparationThefinancialstatementarepreparedinlinewiththeAccountingStandardsforBusinessEnterprise-BasicStandardissuedbyMinistryofFinanceandspecificaccountingprincipleaswellastheapplicationguidancefortheaccountingprinciplesforenterprise,interpretationtotheaccountingprinciplesforenterpriseandotherrelatedrequirements(hereinafterreferredtoasAccountingStandardsforBusinessEnterprise).
2.GoingconcernThefinancialstatementhasbeenpreparedonagoingconcernbasis.V.MajoraccountingpolicyandaccountingestimateSpecificaccountingpoliciesandaccountingestimatetips:
Ourcompanyhasdeterminedfixedassetdepreciation,intangibleassetamortization,andrevenuerecognitionpoliciesbasedonitsownproductionandoperationcharacteristics.SpecificaccountingpoliciescanbefoundinNoteV.24,NoteV.29andNoteV5.37.
1.StatementforobservationofAccountingStandardforBusinessEnterpriseThefinancialstatementspreparedbytheCompanyareinaccordancetorequirementsofAccountingStandardforBusinessEnterpriseissuedbyMinistryofFinance,whichtrulyandcompletelyreflectthefinancialstatusoftheCompanyandparentcompanyonJune30,2024,aswellastheconsolidatedandparentcompany’soperationalresultsandcashflowfortheperiodfromJanuarytoJune2024.
2.Accountingperiod
CalendaryearistheaccountingperiodfortheCompany,thatisfallstotherangestartingfrom1Januaryto31December.
3.OperatingcycleOperatingcycleoftheCompanyis12months
4.Standardcurrency
TheCompanyanditssubsidiariestakeRMBasthestandardcurrencyforbookkeeping.
5.Methodfordeterminingimportancecriteriaandselectioncriteria?Applicable□Notapplicable
| Item | Importancecriteria |
| Importantaccountsreceivablewithsingleprovisionforbaddebtprovision | Amount≥10000000 |
| Otheraccountsreceivablewithsignificantsingleprovisionforbaddebtprovision | Amount≥5000000 |
6.Accountingtreatmentmethodsforbusinesscombinationsunderthesamecontrolandthosenotunderthesamecontrol
(1)MergerofenterprisesunderthesamecontrolFormergeofbusinessunderthesamecontrol,theassetsandliabilitiesofthemergedpartyacquiredbythemergingpartyinthemergershallbemeasuredatthecarryingamountofthemergedpartyinthefinalcontrollingparty’sconsolidatedfinancialstatementsonthemergerdate.Thedifferencebetweenthebookvalueofthemergerconsideration(orthetotalfacevalueoftheissuedshares)andthebookvalueofthenetassetsobtainedinthemergershallbeadjustedtothecapitalreserve(sharepremium).Ifthecapitalreserve(sharepremium)isinsufficienttooffset,theretainedearningsshallbeadjusted.Implementingenterprisemergersunderthesamecontrolthroughmultipletransactionsandstep-by-stepimplementationTheassetsandliabilitiesofthemergedpartyacquiredbythemergingpartyinthemergershallbemeasuredattheircarryingamountsintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyonthemergerdate;Thedifferencebetweenthebookvalueoftheinvestmentsheldbeforethemergerandthebookvalueofthenewlypaidconsiderationonthemergerdate,andthebookvalueofthenetassetsobtainedduringthemerger,isadjustedtothecapitalreserve(sharepremium).Ifthecapitalreserveisinsufficienttooffset,theretainedearningsareadjusted.Thelong-termequityinvestmentheldbythemergingpartybeforeobtainingcontrolofthemergedpartyshallbeoffsetagainstthebeginningretainedearningsorcurrentperiodgains/lossesofthecomparativefinancialperiod,respectively,incasetherelevantgains/losses,othercomprehensiveincomeandotherchangesinshareholders’equityhavebeenrecognizedwithintheperiodfromthelatterbetweenthedateofacquiringtheoriginalequityandthedatewhenthemergingpartyandthemergedpartyareunderthesameultimatecontrolasthemergingpartytothemergingdate.
(2)MergerofenterprisesnotunderthesamecontrolFormergeofenterprisesnotunderthesamecontrol,themergercostisthefairvalueoftheassetspaid,liabilitiesincurredorassumed,andequitysecuritiesissuedontheacquisitiondatetoobtaincontrolovertheacquiredparty.Onthepurchasedate,theassets,liabilities,andcontingentliabilitiesoftheacquiredpartyarerecognizedatfairvalue.Thedifferencebetweenthemergercostandthefairvalueshareofidentifiablenetassetsobtainedfromtheacquiredpartyinthemergershallberecognizedasgoodwillandsubsequentlymeasuredatcostminusaccumulatedimpairmentprovisions;Incasethemergecostislowerthanthefairvalueofidentifiablenetassetsobtainedfromtheacquiredpartyinthemerge,thedifferenceshallberecognizedinthegains/lossesofcurrentperiodafterreview.
ImplementingbusinessmergersunderdifferentcontrolthroughmultipletransactionsinstagesThemergercostisthesumoftheconsiderationpaidonthepurchasedateandthefairvalueoftheequityoftheacquiredpartyheldpriortothepurchasedate.Fortheequityofthepurchasedpartyalreadyheldbeforethepurchasedate,itshallberemeasuredatitsfairvalueonthepurchasedate,andthedifferencebetweenthefairvalueanditsbookvalueshallberecognizedinthecurrentinvestmentincome;Thechangesinothercomprehensiveincomeandothershareholders’equityinvolvedwiththeequityofthepurchasedpartybeforepurchasedateshallbecarriedforwardtothecurrentincomeofthepurchasedate,notincludingothercomprehensiveincomearisingfromchangesinnetliabilitiesornetassetsiftheinvestedentityremeasuresthedefinedbenefitplan,aswellasothercomprehensiveincomerelatedtonontradingequityinstrumentinvestmentsthatwereoriginallydesignatedtobemeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome.
(3)TreatmentoftransactioncostsinenterprisemergerTheintermediaryfeesforauditing,legalservices,evaluationandconsulting,aswellasotherrelatedmanagementexpensesincurredforbusinessmergers,arerecognizedinthecurrentperiod’sgains/losseswhenincurred.Thetransactioncostsofequityordebtsecuritiesissuedasconsiderationforthemergershallbeincludedintheinitialrecognitionamountofequityordebtsecurities.
7.Criteriaforjudgingcontrolandpreparationmethodsforconsolidatedfinancialstatements
(1)CriteriaforjudgingcontrolTheconsolidationscopeoftheconsolidatedfinancialstatementsisdeterminedbasedoncontrol.Controlreferstothecompanyhavingthepowerovertheinvestedentity,enjoyingvariablereturnsthroughparticipatinginrelatedactivitiesoftheinvestedentity,andhavingtheabilitytousethepowerovertheinvestedentitytoinfluenceitsreturnamount.Whenchangesinrelevantfactsandcircumstancesresultinchangesintherelevantelementsinvolvedinthedefinitionofcontrol,thecompanywillconductreassessment.Whendeterminingwhethertoincludeastructuredentityinthescopeofconsolidation,thecompanytakesintoaccountallfactsandcircumstances,includingevaluatingthepurposeanddesignoftheestablishmentofthestructuredentity,identifyingthetypesofvariablereturns,andevaluatingwhethertocontrolthestructuredentitybyparticipatinginitsrelatedactivitiesandassumingsomeorallofthevariabilityofreturns.
(2)MethodofpreparingconsolidatedfinancialstatementsTheconsolidatedfinancialstatementsarebasedonthefinancialstatementsoftheCompanyanditssubsidiaries,andarepreparedbytheCompanybasedonotherrelevantinformation.Whenpreparingconsolidatedfinancialstatements,theaccountingpoliciesandperiodrequirementsoftheCompanyanditssubsidiariesareconsistent,andsignificanttransactionsandbalancesbetweencompaniesareoffset.Duringthereportingperiod,subsidiariesandbusinessesaddedduetomergeofenterprisesunderthesamecontrolshallbedeemedtobeincludedinthescopeofthecompany’sconsolidationfromthedateofbeingunderthesameultimatecontrol.Theoperatingresultsandcashflowsfromthedateofbeingunderthesameultimatecontrolshallbeseparatelyincludedintheconsolidatedincomestatementandconsolidatedcashflowstatement.Duringthereportingperiod,theincome,expenses,andprofitsofsubsidiariesandbusinessesaddedduetomergeofenterprisesnotunderthesamecontrolfromthepurchasedatetotheendofthereportingperiodshallbeincludedintheconsolidatedincomestatement,andtheircashflowsshallbeincludedintheconsolidatedcashflowstatement.Theportionoftheshareholder’sequityofthesubsidiarythatdoesnotbelongtothecompanyshallbeseparatelylistedasminorityshareholder’sequityintheconsolidatedbalancesheetundertheshareholder'sequityitem;Thesharesbelongingtominorityinterestsinthecurrentnetgainsandlossesofsubsidiariesarepresentedasminorityinterestsunderthenetprofitintheconsolidatedincome
statement.Incasethelossesassumedbytheminorityshareholdersinthesubsidiaryexceedtheirshareintheinitialowner'sequityofthesubsidiary,thebalanceshallstilloffsetagainstthedecreaseintheminorityshareholder’sequity.
(3)PurchaseofminorityshareholderequityinsubsidiarycompaniesThedifferencebetweenthecostofnewlyacquiredlong-termequityinvestmentsduetothepurchaseofminorityequityandthenetassetthatshouldbecontinuouslycalculatedfromthedateofpurchaseormergerbasedonthenewshareholdingratio,aswellasthedifferencebetweenthedisposalpriceobtainedfrompartialdisposalofequityinvestmentsinsubsidiarieswithoutlosingcontrolandthenetassetthatshouldbecontinuouslycalculatedfromthedateofpurchaseormergercorrespondingtothedisposaloflong-termequityinvestments,shallbeadjustedtothecapitalreserve(sharepremium)intheconsolidatedbalancesheet.Ifthecapitalreserveisinsufficienttooffset,retainedearningsshallbeadjusted.
(4)TreatmentoflossofcontroloversubsidiariesIfcontrolovertheoriginalsubsidiaryislostduetothedisposalofpartialequityinvestmentsorotherreasons,theremainingequityshallberemeasuredatfairvalueonthedateoflossofcontrol;Thedifferencebetweenthesumoftheconsiderationobtainedfromthedisposalofequityandthefairvalueoftheremainingequity,minusthesumofthebookvalueofnetassetbookoftheoriginalsubsidiarythatshouldhavebeencontinuouslycalculatedfromthepurchasedatebasedontheoriginalshareholdingratioandthegoodwill,isrecognizedintheinvestmentincomefortheperiodwhencontrolislost.Othercomprehensiveincomerelatedtoequityinvestmentsintheoriginalsubsidiaryshouldbeaccountedforonthesamebasisasthedirectdisposalofrelatedassetsorliabilitiesbytheoriginalsubsidiarywhencontrolislost.Otherchangesinowner’sequityrelatedtotheoriginalsubsidiaryandmeasuredatequitymethodshouldbetransferredtothecurrentperiod’sgainsandlosseswhencontrolislost.
(5)StepbystepdisposalofequityuntillossofcontrolIftheterms,conditions,andeconomicimpactofvarioustransactionsthatinvolvethestep-by-stepdisposalofequitythroughmultipletransactionsuntilthelossofcontrolmeetoneormoreofthefollowingconditions,theCompanywilltreatthemultipletransactionsasapackagetransactionforaccountingtreatment:
①Thesetransactionswereenteredintosimultaneouslyorconsideringmutualinfluence;②Thesetransactionsasawholecanachieveacompletecommercialoutcome;
③Theoccurrenceofatransactiondependsontheoccurrenceofatleastoneothertransaction;
④Asingletransactionmaynotbeeconomicalwhenviewedseparately,butitiseconomicalwhenconsideredtogetherwithothertransactions.Intheconsolidatedfinancialstatements,incaseofstep-by-stepdisposalofequityuntillossofcontrol,theremainingequityandtheaccountingofgainsandlossesrelatedtothedisposalofequityshallbemeasuredbyreferencetotheaccountingtreatmentforthelossofcontrolofasubsidiaryasdescribedabove.Beforelosingcontrol,thedifferencebetweenthedisposalpriceandthebookvalueofnetassetofthesubsidiarycorrespondingtothedisposalinvestmentthathasbeencontinuouslycalculatedsincethepurchasedateshallbetreatedasfollows:
①Ifitispackagedeal,itisrecognizedasothercomprehensiveincomeandtransferredtothegainsandlossesoftheperiodwhenlosingcontrol.
②Ifitisnotpackagedeal,itshallbebookedintocapitalreserve(sharepremium)asequitytransactionandshallnotbetransferredtothegainsandlossesoftheperiodwhenlosingcontrol.
8.Classificationofjointventurearrangementsandaccountingtreatmentmethodsforjointoperations
Jointventurearrangementreferstoanarrangementjointlycontrolledbytwoormoreparticipatingparties.Thejointventurearrangementsofthecompanyaredividedintojointoperationsandjointventures.
(1)JointoperationInjointoperation,thecompanyenjoystheassetsrelatedtothearrangementandassumestheliabilitiesrelatedtothearrangement.Thecompanyconfirmsthefollowingitemsrelatedtotheshareofinterestsinjointoperationsandconductsaccountingtreatmentinaccordancewiththerelevantaccountingstandardsforenterprises:
A.Recognizeindividuallyheldassetsandjointlyheldassetsbasedontheirrespectiveshares;B.Recognizeindividualliabilitiesandjointlyassumeliabilitiesbasedontheirrespectiveshares;C.Recognizetheincomegeneratedfromthesaleofitsshareofjointoperatingoutput;D.Recognizetherevenuegeneratedfromthesaleofoutputinjointoperationsbasedontheirshare;E.Recognizetheexpensesincurredseparately,andtheexpensesincurredinjointoperationsbasedontheirrespectiveshares.
(2)JointventureInajointventure,thecompanyonlyhastherighttothenetassetsarrangedbyit.Thecompanyaccountsforinvestmentsinjointventuresinaccordancewiththeprovisionsofequitymethodaccountingforlong-termequityinvestments.
9.Recognitionstandardsforcashandcashequivalents
Cashreferstothecashonhandandcashequivalentsofdepositsthatcanbeusedforpaymentatanytime.CashequivalentreferstotheinvestmentheldbytheCompanywithshortmaturityandstrongliquiditythatareeasytobeconvertedintoknownamountswithlittleriskofchangeincashvalue.
10.Foreigncurrencytransactionsandforeigncurrencystatementtranslation
Ourcompanyconductsforeigncurrencytransactionsandconvertsthemintotheaccountingbasecurrencyamountatthespotexchangerateonthetransactiondate.Onthebalancesheetdate,foreigncurrencymonetaryitemsareconvertedwiththespotexchangerateonthebalancesheetdate.Theexchangedifferencearisingfromthedifferencebetweenthespotexchangerateonthebalancesheetdateandtheexchangerateforinitialrecognitionoronthepreviousbalancesheetdateshallberecognizedinthecurrentperiod'sgainsandlosses;Forforeigncurrencynon-monetaryitemsmeasuredathistoricalcost,thespotexchangerateonthetransactiondateshallstillbeusedfortranslation;Forforeigncurrencynon-monetaryitemsmeasuredatfairvalue,thespotexchangerateonthedateoffairvaluedeterminationisadopted.Thedifferencebetweentheconvertedamountintheaccountingcurrencyandtheoriginalamountintheaccountingcurrencyisrecognizedinthegainsandlossesofcurrentperiodorothercomprehensiveincomebasedonthenatureofthenon-monetaryitem.
11.FinancialinstrumentFinancialinstrumentisthecontractthatformsthefinancialassesforanenterpriseandformsthefinancialliabilityorequityinstrumentforotherunits.
(1)Recognitionandde-recognitionoffinancialinstrumentsThecompanyrecognizesthefinancialassetorliabilitywhenitbecomesapartytoafinancialinstrumentcontract.Financialassetsthatmeetoneofthefollowingconditionsshallbederecognized:
①Thecontractualrighttoreceivecashflowsfromthefinancialassetisterminated;②Thefinancialassethasbeentransferredandmeetstheconditionsforderecognizingthetransferoffinancialassetsasfollows.Incasethecurrentobligationsofafinancialliabilityhavebeenfullyorpartiallyrelieved,thefinancialliabilityoraportionthereofshallbederecognized.Incasethecompany(debtor)signsanagreementwithcreditorstoreplaceexistingfinancialliabilitiesbyassumingnewfinancialliabilities,andthecontractualtermsofthenewfinancialliabilitiesaresubstantiallydifferentfromthoseoftheexistingfinancialliabilities,theexistingfinancialliabilitiesshallbederecognizedandthenewfinancialliabilitiesshallberecognizedsimultaneously.Thefinancialassetsboughtorsoldinconventionalmannersshallberecognizedorderecognizedonthetradingday.
(2)ClassificationandinitialmeasurementoffinancialassetsAttheinitialrecognition,accordingtothebusinessmodelofmanagingfinancialassetsandthecontractualcashflowcharacteristicsoffinancialassets,theCompanyclassifiesthefinancialassetsintothefinancialassetsmeasuredatamortizedcost,thefinancialassetsmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome,andthefinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitorloss.Financialassetsaremeasuredatfairvalueforinitialrecognition.Forfinancialassetsmeasuredatfairvaluewithchangesrecognizedinthegainsandlossesofcurrentperiod,therelevanttransactioncostsaredirectlyrecognizedinthegainsandlossesofcurrentperiod;Forothercategoriesoffinancialassets,relevanttransactioncostsareincludedintheinitialrecognitionamount.Theaccountsreceivablearisingfromthesaleofproductsorprovisionofservices,whichdonotincludeorconsidersignificantfinancingcomponents,shallberecognizedattheexpectedamountofconsiderationthatthecompanyisentitledtoreceiveforinitialrecognition.FinancialassetsmeasuredatamortizedcostTheCompanyclassifiesthefinancialassetsthatmeetthefollowingconditionsandarenotdesignatedasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitorlossasfinancialassetsmeasuredatamortizedcost:
?Thegroup’sbusinessmodelformanagingthefinancialassetsistocollectcontractualcashflows;and?Thecontractualtermsofthefinancialassetsstipulatethatcashflowgeneratedonaspecificdatewillbeonlyusedtopayforthe
principalandinterestbasedontheoutstandingprincipalamount.Afterinitialrecognition,suchfinancialassetsaremeasuredatamortizedcostwiththeeffectiveinterestmethod.Gainsorlossesarisingfromfinancialassetswhicharemeasuredatamortizedcostandarenotacomponentofanyhedgingrelationshipareincludedincurrentprofitorlosswhenbeingterminatedforrecognition,amortizedbyeffectiveinterestmethod,orimpaired.FinancialassetsmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincomeTheCompanyclassifiesthefinancialassetsthatmeetthefollowingconditionsandarenotdesignatedasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitorlossasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome:
?TheGroup'sbusinessmodelformanagingthefinancialassetsistargetedatboththecollectionofcontractualcashflowsandthesaleoffinancialassets;and?Thecontractualtermsofthefinancialassetstipulatethatthecashflowgeneratedonaspecificdateisonlyusedtopayforthe
principalandtheinterestbasedontheoutstandingprincipalamount.Afterinitialrecognition,suchfinancialassetsaresubsequentlymeasuredatfairvalue.Interests,impairmentlossesorgainsandexchangegainsandlossescalculatedwiththeeffectiveinterestmethodareincludedinprofitorlossfortheperiod,andothergainsorlossesareincludedinothercomprehensiveincome.Atthetimeofderecognition,theaccumulatedgainsorlossespreviouslyincludedinothercomprehensiveincomeshallbecarriedforwardfromothercomprehensiveincometocurrentprofitorloss.FinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitorlossExceptfortheabovefinancialassetsmeasuredatamortizedcostandmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome,theCompanyclassifiesallotherfinancialassetsasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitorloss.Intheinitialrecognition,inordertoeliminateorsignificantlyreduceaccountingmismatch,theCompanyirreversiblydesignatespartofthefinancialassetsthatshouldbemeasuredatamortizedcostormeasuredatfairvalueandwhosechangesareincludedintheothercomprehensiveincomeasthefinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitorloss.Aftertheinitialrecognition,suchfinancialassetsaresubsequentlymeasuredatfairvalue,andthegainsorlosses(includinginterestsanddividendincome)areincludedinthecurrentprofitandloss,unlessthefinancialassetsarepartofthehedgingrelationship.Thebusinessmodelofmanagingfinancialassetsreferstohowthecompanymanagesfinancialassetstogeneratecashflow.Thebusinessmodeldetermineswhetherthesourceofcashflowforthefinancialassetsmanagedbythecompanyistoreceivecontractcashflow,sellfinancialassets,oracombinationofboth.thecompanydeterminesthebusinessmodelformanagingfinancialassetsbasedonobjectivefactsandspecificbusinessobjectivesdeterminedbykeymanagementpersonnel.Thecompanyevaluatesthecontractualcashflowcharacteristicsoffinancialassetstodeterminewhetherthecontractualcashflowgeneratedbytherelevantfinancialassetsonaspecificdateisonlyforthepaymentofprincipalandinterestbasedontheoutstandingprincipalamount.Principalreferstothefairvalueoffinancialassetsatinitialrecognition;Interestincludesconsiderationforthetimevalueofmoney,creditriskassociatedwithoutstandingprincipalamountsforaspecificperiod,andotherbasiclendingrisks,costs,andprofits.Inaddition,thecompanyevaluatescontracttermsthatmaycausechangesinthetimedistributionoramountofcashflowsinfinancialassetcontractstodeterminewhethertheymeettherequirementsoftheaforementionedcontractcashflowcharacteristics.Onlywhenthecompanychangesitsbusinessmodelformanagingfinancialassets,allaffectedrelatedfinancialassetsshallbereclassifiedonthefirstdayofthefirstreportingperiodafterthechangeinbusinessmodel.Otherwise,financialassetsshallnotbereclassifiedafterinitialrecognition.Financialassetsaremeasuredatfairvalueatinitialrecognition.Forfinancialassetsmeasuredatfairvaluewithchangesrecognizedinthegainsandlossesofcurrentperiod,therelevanttransactioncostsaredirectlyrecognizedinthegainsandlossesofcurrentperiod;Forothercategoriesoffinancialassets,relevanttransactioncostsareincludedintheinitialrecognitionamount.Theaccountsreceivablearisingfromthesaleofproductsorprovisionofservices,whichdonotincludeorconsidersignificantfinancingcomponents,shallberecognizedbythecompanyasexpectedamountofconsiderationfortheinitialrecognitionamount.
(3)ClassificationandmeasurementoffinancialliabilitiesThefinancialliabilitiesofthecompanyareclassifiedatinitialrecognitionasfinancialliabilitiesmeasuredatfairvaluethroughgainsandlossesofcurrentperiod,financialliabilitiesmeasuredatamortizedcost.Forfinancialliabilitiesthatarenotclassifiedas
measuredatfairvalueandwhosechangesarerecognizedinthegainsandlossesofcurrentperiod,therelevanttransactioncostsareincludedintheirinitialrecognitionamount.FinancialliabilitiesmeasuredatfairvaluethroughgainsandlossesFinancialliabilitiesmeasuredatfairvaluethroughgainsandlossesincludetradingfinancialliabilitiesandfinancialliabilitiesdesignatedatinitialrecognitionasmeasuredatfairvaluethroughprofitorloss.Forsuchfinancialliabilities,subsequentmeasurementsaremadeatfairvalue,andgainsorlossesresultingfromchangesinfairvalue,aswellasdividendsandinterestexpensesrelatedtosuchfinancialliabilities,arerecognizedinthegainsandlossesofcurrentperiod.FinancialliabilitiesmeasuredatamortizedcostOtherfinancialliabilitiesaremeasuredwitheffectiveinterestratemethodatamortizedcost,andanygainsorlossesarisingfromderecognitionoramortizationarerecognizedinthegainsandlossesofcurrentperiod.ThedistinctionbetweenfinancialliabilitiesandequityinstrumentsFinancialliabilitiesrefertoliabilitiesthatmeetoneofthefollowingconditions:
①Thecontractualobligationtodelivercashorotherfinancialassetstootherparties.
②Contractualobligationstoexchangefinancialassetsorliabilitieswithotherpartiesunderpotentialadverseconditions.
③Non-derivativeinstrumentcontractsthatrequireorcanbesettledwiththecompany’sownequityinstrumentsinthefuture,andthecompanywilldeliveravariablenumberofitsownequityinstrumentsaccordingtothiscontract.④Derivativeinstrumentcontractsthatrequireorcanbesettledwiththecompany’sownequityinstrumentsinthefuture,exceptforderivativeinstrumentcontractswhereafixedamountofselfequityinstrumentsareexchangedforafixedamountofcashorotherfinancialassets.Equityinstrumentsrefertocontractsthatproveownershipoftheremainingequityinassetsofacertainenterpriseafterdeductingallliabilities.Ifthecompanycannotunconditionallyavoidfulfillingacontractualobligationbydeliveringcashorotherfinancialassets,suchcontractualobligationmeetsthedefinitionoffinancialliability.Ifafinancialinstrumentneedstobesettledorcanbesettledwiththecompany’sownequityinstruments,itisnecessarytoconsiderwhetherthecompany’sownequityinstrumentsusedtosettletheinstrumentareusedassubstitutesforcashorotherfinancialassets,ortoenabletheholderoftheinstrumenttoenjoytheremainingequityintheassetsafterdeductingallliabilitiesfromtheissuer.Ifitistheformer,theinstrumentisthefinancialliabilityofthecompany;Ifitisthelatter,theinstrumentistheequityinstrumentofthecompany.
(4)DerivativefinancialinstrumentsandembeddedderivativeinstrumentsThederivativefinancialinstrumentsofthecompanyareinitiallymeasuredatfairvalueonthedateofsigningthederivativetransactioncontract,andaresubsequentlymeasuredattheirfairvalue.Thederivativefinancialinstrumentswithapositivefairvaluearerecognizedasanasset,whilethosewithanegativefairvaluearerecognizedasaliability.Anygainsorlossesarisingfromchangesinfairvaluethatdonotcomplywithhedgeaccountingregulationsaredirectlyrecognizedinthegainsandlossesofcurrentperiod.Formixedinstrumentscontainingembeddedderivativeinstruments,incasethemaincontractisafinancialasset,therelevant
provisionsforfinancialassetclassificationshallapplytothemixedinstrumentsasawhole.Ifthemaincontractisnotafinancialasset,andthemixedinstrumentisnotmeasuredatfairvaluethroughgainsandlosses,theembeddedderivativeinstrumentisnotcloselyrelatedtothemaincontractintermsofeconomiccharacteristicsandrisks,andhasthesameconditionsastheembeddedderivativeinstrument,andtheseparateinstrumentmeetsthedefinitionofaderivativeinstrument,theembeddedderivativeinstrumentisseparatedfromthemixedinstrumentandtreatedasaseparatederivativefinancialinstrument.Ifitisnotpossibletoseparatelymeasureembeddedderivativeinstrumentsatthetimeofacquisitionorsubsequentbalancesheetdates,themixedinstrumentasawholeshallbedesignatedasafinancialassetorliabilitymeasuredatfairvaluewithitschangesrecognizedinthegainsandlossesofcurrentperiod.
(5)FairvalueoffinancialinstrumentsThemethodfordeterminingthefairvalueoffinancialassetsandfinancialliabilitiescanbefoundinNotesIII.12oftheauditreport.
(6)ImpairmentoffinancialassetsBasedonexpectedcreditlosses,thecompanyconductsimpairmentaccountingtreatmentandrecognizeslossprovisionsforthefollowingitems:
?Financialassetsmeasuredatamortizedcost;?Accountsreceivableanddebtinstrumentinvestmentsmeasuredatfairvaluewithchangesrecognizedinother
comprehensiveincome;
?ContractassetsdefinedinEnterpriseAccountingStandardNo.14-Revenue;?Leasereceivables;?Financialguaranteecontracts(excludingthosemeasuredatfairvaluethroughprofitorloss,transferoffinancialassetsthat
donotmeettheterminationrecognitionconditions,orcontinuedinvolvementinthetransferredfinancialassets).MeasurementofexpectedcreditlossesExpectedcreditlossreferstotheweightedaverageofcreditlossesoffinancialinstrumentsweightedbytheriskofdefault.Creditlossreferstothepresentvalueofallcashshortages,whichisthedifferencebetweenallcontractualcashflowsreceivablediscountedattheoriginaleffectiveinterestrateandexpectedcashflowsreceivedbythecompany.Consideringreasonableandevidence-basedinformationregardingpastevents,currentconditions,andpredictionsoffutureeconomicconditions,withtheriskofdefaultastheweight,thecompanycalculatestheprobabilityweightedamountofthepresentvalueofthedifferencebetweenthecashflowsreceivableunderthecontractandtheexpectedcashflowstobereceived,andrecognizetheexpectedcreditloss.Thecompanymeasurestheexpectedcreditlossesoffinancialinstrumentsatdifferentstagesseparately.Ifthecreditriskoffinancialinstrumentshasnotsignificantlyincreasedsinceinitialrecognition,theyareinthefirststage,andthecompanymeasuresthelossprovisionbasedontheexpectedcreditlosseswithinthenext12months;Ifthecreditriskofafinancialinstrumenthassignificantlyincreasedsinceinitialrecognitionbuthasnotyetexperiencedcreditimpairment,itisinthesecondstageandthecompanymeasurestheprovisionforlossesbasedontheexpectedcreditlossesoftheinstrumentoveritsentireduration;Ifafinancialinstrumenthasexperiencedcreditimpairmentsinceitsinitialrecognition,itisinthethirdstage,andthecompanymeasurestheprovisionforlosses
basedontheexpectedcreditlossesoftheinstrumentoveritsentireduration.Forfinancialinstrumentswithlowercreditriskonthebalancesheetdate,thecompanyassumesthattheircreditriskhasnotsignificantlyincreasedsinceinitialrecognitionandmeasureslossprovisionsbasedonexpectedcreditlossesoverthenext12months.Theexpectedcreditlossfortheentireexpecteddurationofafinancialinstrumentreferstotheexpectedcreditlosscausedbyallpossibledefaulteventsthatmayoccurthroughouttheexpecteddurationofthefinancialinstrument.Theexpectedcreditlosswithinthenext12monthsimpliestheexpectedcreditlossthatmayoccurduetoadefaulteventofafinancialinstrumentwithinthenext12monthsafterthebalancesheetdate(withintheexpecteddurationincasetheexpectedmaturityofthefinancialinstrumentislessthan12months),whichisapartoftheexpectedcreditlossfortheentireduration).Whenmeasuringexpectedcreditlosses,thelongesttermthatthecompanyneedstoconsideristhelongestcontracttermthattheenterprisefacescreditrisk(includingconsideringrenewaloptions).Forfinancialinstrumentsinthefirstandsecondstages,aswellasthosewithlowercreditrisk,thecompanycalculatesinterestincomebasedontheirbookbalancewithoutdeductingimpairmentprovisionsandactualinterestrate.Forfinancialinstrumentsinthethirdstage,interestincomeiscalculatedbasedontheirbookbalanceminustheamortizedcostofimpairmentprovisionsandtheactualinterestrate.Forreceivablessuchasnotesreceivable,accountsreceivable,andotherreceivables,ifthecreditriskcharacteristicsofacertaincustomeraresignificantlydifferentfromthoseofothercustomersintheportfolio,orifthereisasignificantchangeinthecreditriskcharacteristicsofthatcustomer,thecompanywillmakeindividualseparatebaddebtprovisionforthatreceivables.Exceptforaccountsreceivablewithindividualbaddebtprovision,thecompanyclassifiesaccountsreceivableintoportfoliosbasedoncreditriskcharacteristicsandcalculatesbaddebtprovisiononthebasisofportfolio.NotesreceivableandaccountsreceivableFornotesreceivableandaccountsreceivable,regardlessofwhethertherearesignificantfinancingcomponents,thecompanyalwaysmeasuresitslossprovisionatanamountequivalenttotheexpectedcreditlossfortheentireduration.Whenitisunabletoassestheexpectedcreditlossesofasinglefinancialassetatareasonablecost,thecompanycategoriesaccountsreceivableandnotesreceivableintoportfoliosbasedoncreditriskcharacteristics,calculatesexpectedcreditlossesonthebasisofportfolio,anddeterminesthebasisforportfolioandthemethodformeasuringexpectedcreditlossesasfollows:
A.Notesreceivable
| Accountsreceivableportfolio | Basisfordeterminingportfolio | Methodsformeasuringexpectedcreditlosses |
| Bankacceptancebill | Billtype | Basedonhistoricalcreditlossexperience,combinedwithcurrentconditionsandpredictionsoffutureeconomicconditions,calculatetheexpectedcreditlossbydefaultriskexposureandtheexpectedcreditlossratefortheentireduration |
| Commercialacceptancebill | Billtype | Basedonhistoricalcreditlossexperience,combinedwithcurrentconditionsandpredictionsoffutureeconomicconditions,theexpectedcreditlossiscalculatedbydefaultriskexposureandtheexpectedcreditlossratefortheentireduration |
B.Accountsreceivable
| Accountsreceivableportfolio | Basisfordeterminingportfolio | Methodsformeasuringexpectedcreditlosses |
| Salesreceivablesportfolio | Aginganalysis | Basedonhistoricalcreditlossexperience,combinedwithcurrentconditionsandpredictionsoffutureeconomicconditions,prepareacomparisontablebetweentheagingofaccountsreceivableandtheexpectedcreditlossratefortheentireduration,andcalculatetheexpectedcreditloss |
| Specificobjectportfolio | Accountsreceivablebetweenrelatedpartieswithinthescopeofconsolidation,andaccountsreceivablefromgovernmentdepartments | Basedonhistoricalcreditlossexperience,combinedwithcurrentconditionsandpredictionsoffutureeconomicconditions,calculatetheexpectedcreditlossbydefaultriskexposureandtheexpectedcreditlossratefortheentireduration.Theexpectedcreditlossratefortheportfoliois0 |
OtherreceivablesThecompanycategoriesotherreceivablesintoseveralcombinationsbasedoncreditriskcharacteristics,calculatesexpectedcreditlossesonthebasisofportfolio,anddeterminesthebasisforportfolioandthemethodformeasuringexpectedcreditlossesasfollows:
| Otheraccountsreceivableportfolio | Basisfordeterminingportfolio | Methodsformeasuringexpectedcreditlosses |
| Expectedportfolioofcreditriskcharacteristics | Aginganalysis | Basedonhistoricalcreditlossexperience,calculatetheexpectedcreditlossbydefaultriskexposureandtheexpectedcreditlossrateoverthenext12monthsortheentireduration |
| Specificobjectportfolio | Accountsreceivable,margin,deposit,andaccountsreceivablefromgovernmentdepartmentsbetweenrelatedpartieswithinthescopeofconsolidation | Basedonhistoricalcreditlossexperience,calculatetheexpectedcreditlossbydefaultriskexposureandtheexpectedcreditlossrateforthenext12monthsortheentireduration.Theexpectedcreditlossrateforthiscombinationis0 |
DebtinvestmentandotherdebtinvestmentsFordebtinvestmentsandotherdebtinvestments,thecompanycalculatesexpectedcreditlossesbasedonthenatureoftheinvestment,varioustypesofcounterpartyandriskexposure,defaultriskexposure,andexpectedcreditlossrateforthenext12monthsortheentireduration.
Agingoftheagingportfolioandtheexpectedcreditlossratefortheentireduration
| Aging | Accrualratio% |
| Within1year(including1year) | 1.00 |
| 1-2years(including2years) | 10.00 |
| 2-3years(including3years) | 30.00 |
| 3-5years(including5years) | 50.00 |
| Over5years | 80.00 |
AssessmentofsignificantincreaseincreditriskThecompanycomparestheriskofdefaultoffinancialinstrumentsonthebalancesheetdatewiththeriskofdefaultontheinitialrecognitiondatetodeterminetherelativechangeindefaultriskduringtheexpecteddurationoffinancialinstruments,inordertoevaluatewhetherthecreditriskoffinancialinstrumentshassignificantlyincreasedsinceinitialrecognition.Whendeterminingwhethercreditriskhassignificantlyincreasedsinceinitialrecognition,thecompanyconsidersreasonableandevidence-basedinformation,includingforward-lookinginformation,thatcanbeobtainedwithoutunnecessaryadditionalcostsorefforts.Theinformationconsideredbythecompanyincludes:
?Thedebtorfailstopaytheprincipalandinterestontheduedateofthecontract;?Seriousdeteriorationofexternalorinternalcreditratings(ifany)offinancialinstrumentsthathaveoccurredorare
expectedtooccur;
?Seriousdeteriorationofthedebtor'soperatingresultsthathasoccurredorisexpectedtooccur;
?Existingoranticipatedchangesintechnology,market,economy,orlegalenvironmentthatwillhaveasignificantadverseimpactonthedebtor'sabilitytorepaythecompany.Basedonthenatureoffinancialinstruments,thecompanyevaluateswhethercreditrisksignificantlyincreasesbasedonindividualfinancialinstrumentsorcombinationsoffinancialinstruments.Whenperformingassessmentbasedonfinancialinstrumentsportfolio,thecompanycanclassifyfinancialinstrumentsbasedoncommoncreditriskcharacteristics,suchasoverdueinformationandcreditriskratings.Iftheoverdueperiodexceeds30days,thecompanydeterminesthatthecreditriskofthefinancialinstrumenthassignificantlyincreased.FinancialassetsthathaveexperiencedcreditimpairmentThecompanyassessesonthebalancesheetdatewhetherfinancialassetsmeasuredatamortizedcostanddebtinvestmentsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincomehaveexperiencedcreditimpairment.Whenoneormoreeventsthathaveanadverseimpactontheexpectedfuturecashflowsofafinancialassetoccur,thefinancialassetbecomesafinancialassetthathasexperiencedcreditimpairment.Evidenceofcreditimpairmentoffinancialassetsincludesthefollowingobservableinformation:
?Theissuerordebtorencounterssignificantfinancialdifficulties;?Thedebtorviolatesthecontract,suchaspayinginterestorprincipalindefaultoroverdue;?Duetoeconomicorcontractualconsiderationsrelatedtothefinancialdifficultiesofthedebtor,thecompanywillnotmake
anyconcessionstothedebtorunderanyothercircumstances;
?Thedebtorislikelytogobankruptorundergootherfinancialrestructuring;?Thefinancialdifficultiesoftheissuerordebtorhaveledtothedisappearanceoftheactivemarketforthefinancialasset.
ReportingofprovisionsforexpectedcreditlossesToreflectthechangesincreditriskoffinancialinstrumentssinceinitialrecognition,thecompanyremeasuresexpectedcreditlossesoneachbalancesheetdate.Theconsequentincreaseorreversaloflossprovisionsshouldberecognizedasimpairmentlossesorgainsinthegainsandlossesofcurrentperiod.Forfinancialassetsmeasuredatamortizedcost,theprovisionforlossesshalloffsetthebookingamountofthefinancialassetasstatedinthebalancesheet;Fordebtinvestmentsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome,thelossprovisionshallberecognizedinothercomprehensiveincomeanddoesnotoffsetthebookingamountofthefinancialasset.Write-offIfthecompanynolongerreasonablyexpectsthecashflowofthefinancialassetcontracttobefullyorpartiallyrecovered,thebookamountofthefinancialassetshallbedirectlywrittendown.Thiswritedownconstitutesthederecognitionofrelatedfinancialassets.Thissituationusuallyoccurswhenthecompanydeterminesthatthedebtordoesnothaveassetsorsourcesofincometogeneratesufficientcashflowtorepaytheamounttobewrittendown.However,accordingtoourcompany’sproceduresforrecoveringduepayments,thefinancialassetsthathavebeenwrittendownmaystillbeaffectedbyexecutionactivities.Incasefinancialassetsthathavebeenwrittendownaresubsequentlyrecovered,thereversedimpairmentlossesshallbebookedintothegainsandlossesofcurrentperiod.
(7)FinancialassettransferFinancialassettransferreferstothetransferordeliveryoffinancialassetstoanotherparty(transferee)otherthantheissuerofthefinancialasset.Ifthecompanyhastransferredalmostalltherisksandrewardsofownershipoffinancialassetstothetransferee,thefinancialassetshallbederecognized;Ifalmostallrisksandrewardsrelatedtoownershipoffinancialassetsareretained,thefinancialassetwillnotbederecognized.Incasethecompanyneithertransfersnorretainsalmostalltherisksandrewardsrelatedtotheownershipoffinancialassets,thefollowingsituationsshallbehandledseparately:ifthecontroloverthefinancialassetisabandoned,thefinancialassetshallbederecognizedandtheresultingassetsandliabilitiesshallberecognized;ifthecontroloverthefinancialassetisnotabandoned,therelevantfinancialassetshallberecognizedbasedonthecontinuedinvolvementofthecompanyinthetransferredfinancialasset,andcorrespondingliabilitiesshallberecognized.
(8)Balance-outbetweenthefinancialassetsandliabilitiesAsthecompanyhasthelegalrighttobalanceoutthefinancialliabilitiesbythenetorliquidationofthefinancialassets,thebalance-outsumbetweenthefinancialassetsandliabilitiesislistedinthebalancesheet.Inaddition,thefinancialassetsandliabilitiesarelistedinthebalancesheetwithoutbeingbalancedout.
12.Notereceivable
13.Accountreceivable
14.Receivablefinancing
15.Otheraccountreceivable
16.Contractasset
17.Inventory
(1)ClassificationofinventoryInventoryincludesrawmaterials,revolvingmaterial,goodsinprocess,goodsintransitandworkinprocess-outsourcedandsoon.
(2)ValuationmethodsfordeliveryofinventoryTheinventoryofthecompanyisvaluedatactualcostuponacquisition.Therawmaterials,andinventorygoodsarepricedusingtheweightedaveragemethodorindividualvaluationmethodatthetimeofshipping.
(3)DeterminationbasisandprovisionmethodforinventorydepreciationreservesOnthebalancesheetdate,inventoryismeasuredatthelowerbetweencostandnetrealizablevalue.Whenitsnetrealizablevalueislowerthancost,theinventoryimpairmentprovisionismade.Thenetrealizablevalueistheamountobtainedbysubtractingtheestimatedcosttobeincurreduntilcompletion,estimatedsalesexpenses,andrelatedtaxesfromtheestimatedsellingpriceofinventory.Whendeterminingthenetrealizablevalueofinventory,itis
basedonconclusiveevidenceobtained,whileconsideringthepurposeofholdinginventoryandtheimpactofeventsafterthebalancesheetdate.Thecompanyusuallymakesinventoryimpairmentprovisionbasedonindividualinventoryitems.Onthebalancesheetdate,ifthefactorsaffectingthepreviouswrite-downofinventoryvaluehavedisappeared,theinventoryimpairmentprovisionshallbereversedwithintheoriginallyprovisionedamount.
(4)InventorysystemInventorysystemistheperpetualinventorysystem.
(5)Amortizationoflow-valueconsumablesandpackagingmaterialsLow-valueconsumablesandpackagingmaterialsadoptthemethodofprimaryresale;
18.Assetheldforsale
19.Debtinvestment
20.Otherequityinvestment
21.Long-termaccountsreceivable
22.Long-termequityinvestmentLongtermequityinvestmentsincludeequityinvestmentsinsubsidiaries,jointventures,andassociatedenterprises.Inthejointventure,thecompanyiscapableofexertingsignificantinfluenceontheinvestedentity.
(1)DeterminationofinitialinvestmentcostLongtermequityinvestmentsformedfromenterprisemerge:Forlong-termequityinvestmentsobtainedthroughmergeofenterpriseunderthesamecontrol,theinvestmentcostshallbedeterminedbasedontheshareofthebookvalueofthetheshareholders’equityofthemergedpartyintheconsolidatedfinancialstatementsofthefinalcontrolleronthemergerdate;Thelong-termequityinvestmentobtainedthroughthemergerofenterprisesnotunderthesamecontrolshallberecognizedastheinvestmentcostofthelong-termequityinvestmentbasedonthemergercost.Long-termequityinvestmentsobtainedthroughothermeans:Forthelong-termequityinvestmentsobtainedbypayingcash,theactualpurchasepricepaidshallbetheinitialinvestmentcost;Forlong-termequityinvestmentsobtainedthroughtheissuanceofequitysecurities,thefairvalueoftheissuedequitysecuritiesshallbetheinitialinvestmentcost.
(2)SubsequentmeasurementandrecognitionmethodsofgainsandlossesInvestmentsinsubsidiariesaremeasuredwiththecostmethod,unlesstheinvestmentmeetstheconditionsforholdingforsale;Investmentsinassociatedenterprisesandjointventuresaremeasuredwithequitymethod.Forthelongtermequityinvestmentsmeasuredwithcostmethod,exceptforcashdividendsorprofitsdeclaredbutnotyetdistributedintheactualpaymentorconsiderationreceivedatthetimeofinvestment,thecashdividendsorprofitsdeclaredbytheinvesteeshallberecognizedasinvestmentincomeandbookedintogainsandlossesincurrentperiod.Forlong-termequityinvestmentsmeasuredwiththeequitymethod,iftheinitialinvestmentcostisgreaterthanthefairvalueofidentifiablenetassetsoftheinvestedentityheldatthetimeofinvestment,theinvestmentcostofthelong-termequityinvestment
shallnotbeadjusted;Iftheinitialinvestmentcostislessthanthefairvalueoftheidentifiablenetassetsoftheinvestedentityheldatthetimeofinvestment,thebookvalueofthelong-termequityinvestmentshallbeadjusted,andthedifferenceshallberecognizedinthegainsandlossesoftheinvestmentperiod.Whenmeasuredwithequitymethod,investmentincomeandothercomprehensiveincomeshallberecognizedseparatelybasedontheshareofnetgainsandlossesandothercomprehensiveincomethatshouldbeenjoyedorsharedbytheinvestedentity,andthebookvalueoflong-termequityinvestmentsshallbeadjusted;Thebookvalueoflong-termequityinvestmentsshallbereducedcorrespondinglyintermsoftheportionthatshouldbeenjoyedbasedontheprofitsorcashdividendsdeclaredbytheinvestedentity;Otherchangesinshareholders’equityoftheinvestedentity,exceptfornetgainsandlosses,othercomprehensiveincome,andprofitdistribution,shalladjustthebookvalueoflong-termequityinvestmentsandbebookedintocapitalreserves(othercapitalreserves).Basedonthefairvalueofidentifiableassetsoftheinvestedentityatthetimeofacquisitionoftheinvestment,theshareofnetgainsandlossesthatshouldbeenjoyedintheinvestedentityshallbeadjustedaccordingtotheaccountingpoliciesandaccountingperiodsofthecompanybeforerecognition.Ifsignificantinfluenceorjointcontrolcanbeexertedontheinvestedentityduetoadditionalinvestmentorotherreasons,butdoesnotconstitutingcontrol,ontheconversiondate,theinitialinvestmentcostmeasuredagainwithequitymethodshallbethesumofthefairvalueoftheoriginalequityandtheadditionalinvestmentcost.Iftheoriginalequityisclassifiedasanontradingequityinstrumentinvestmentmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome,thecumulativefairvaluechangesrelatedthatwereoriginallyrecognizedinothercomprehensiveincomeshallbetransferredtoretainedincomewhentheequitymethodisusedforaccounting.Ifthejointcontrolorsignificantimpactontheinvestedentityislostduetothedisposalofsomeequityinvestmentsorotherreasons,theremainingequityafterdisposalshallbesubjecttoaccountingtreatmentinaccordancewithAccountingStandardsforEnterprisesNo.22-RecognitionandMeasurementofFinancialInstrumentsonthedateoflossofjointcontrolorsignificantimpact,andthedifferencebetweenfairvalueandbookvalueshallberecognizedingainsandlossesincurrentperiod.Othercomprehensiveincomerecognizedforequityinvestmentswithequitymethodshallbemeasuredonthesamebasisasthedirectdisposalofrelevantassetsorliabilitiesbytheinvestedentitywhentheequitymethodisterminated;Otherchangesinshareholders'equityrelatedtotheoriginalequityinvestmentaretransferredtogainsandlossesincurrentperiod.Ifcontrolovertheinvesteeislostduetothedisposalofaportionofequityinvestmentorotherreasons,andtheremainingequityafterdisposalcanexercisejointcontrolorsignificantinfluenceovertheinvestee,itshallbemeasuredwithequitymethod,andtheremainingequityshallbedeemedtobeadjustedwiththeequitymethodfromthetimeofacquisition;Iftheremainingequityafterdisposalcannotexercisejointcontrolorhaveasignificantimpactontheinvestedentity,itshallbemeasuredinaccordancewiththerelevantprovisionsofEnterpriseAccountingStandardNo.22-RecognitionandMeasurementofFinancialInstruments.Thedifferencebetweenthefairvalueandthebookvalueonthedateoflossofcontrolshallberecognizedingainsandlossesincurrentperiod.IftheshareholdingratiooftheCompanydecreasesduetocapitalincreasebyotherinvestors,andthecompanylosescontrolovertheinvestedentitybutisabletoexercisejointcontrolorexertsignificantinfluenceontheinvestedentity,theCompanyshallrecognizetherisingnetassetsoftheinvestedentityheldbythecompanyduetocapitalincreaseandshareexpansionaccordingtothenewshareholdingratio,andthedifferencebetweentheoriginalbookvalueofthelong-termequityinvestmentcorrespondingtothedecreaseinshareholdingratiothatshouldbecarriedforwardshallbeincludedinthecurrentgainsandlosses,andthenitshallbeadjustedintermsofthenewshareholdingratiojustasitismeasuredwithequitymethodwhentheinvestmentisobtained.TheunrealizedinternaltransactiongainsandlossesbetweentheCompanyanditsassociatedenterprisesandjointventuresshallbecalculatedintermsoftheproportionofshareholdingandrecognizedasinvestmentgainsandlossesonthebasisofoffsetting.However,theunrealizedinternaltransactionlossesincurredbytheCompanyandtheinvestedentity,whichistheimpairmentlosses
ofthetransferredassets,shallnotbeoffset.
(3)CriteriaofjointcontrolandsignificantinfluenceJointcontrolistheCompany’scontractuallyagreedsharingofcontroloveranarrangement,whichrelevantactivitiesofsucharrangementmustbedecidedbyunanimouslyagreementfrompartieswhosharecontrol.Whendeterminingwhetherthereisjointcontrol,firstlyjudgewhetheralltheparticipantsorparticipantgrouphavecontrollingoversucharrangementasagroupornot,andthenjudgewhetherthedecision-makingforsucharrangementareagreedunanimitybytheparticipantsornot.Ifallparticipantsoragroupofparticipantsmustacttogethertodeterminetherelevantactivitiesofacertainarrangement,itisconsideredthatallparticipantsoragroupofparticipantscollectivelycontrolthearrangement;Iftherearetwoormoreportfoliosofparticipantstocollectivelycontrolacertainarrangement,itdoesnotconstitutejointcontrol.Whendeterminingwhetherthereisjointcontrol,theprotectiverightsenjoyedarenotconsidered.SignificantinfluenceisthepoweroftheCompanytoparticipateinthefinancialandoperatingpolicydecisionsofaninvestedparty,buttofailtocontrolorjointcontroltheformulationofsuchpoliciestogetherwithotherparties.Whendeterminingwhethersignificantinfluencecanbeexertedontheinvestedentity,thepotentialfactorsofvotingpowerascurrentconvertiblebondsandcurrentexecutablewarrantoftheinvestedpartyheldbyinvestorsandotherpartiesshallbeconsidered.Whenthecompanydirectlyorindirectlyownsmorethan20%(inclusive)butlessthan50%ofthevotingsharesoftheinvestedentitythroughitssubsidiaries,itisgenerallyconsideredtohaveasignificantimpactontheinvestedentity,unlessthereisclearevidencethatitcannotparticipateintheproductionandoperationdecisionsoftheinvestedentityanddoesnotformasignificantimpact;Whenthecompanyownslessthan20%(exclusive)ofthevotingsharesoftheinvestedentity,itisgenerallynotconsideredtohaveasignificantimpactontheinvestedentity,unlessthereisclearevidencethatitcanparticipateintheproductionandoperationdecisionsoftheinvestedunitandformasignificantimpact.
23.Investmentrealestate
MeasurementmodelforinvestmentrealestateMeasuredwithcostmethodDepreciationoramortizationmethodsInvestmentrealestatereferstorealestateheldforthepurposeofearningrentorcapitalappreciation,orboth.Thecompany’sinvestmentrealestateincludesleasedlanduserights,landuserightsheldandpreparedfortransferafterappreciation,andleasedbuildings.Thecompany'sinvestmentrealestateisinitiallymeasuredatcostatthetimeofacquisitionanddepreciatedoramortizedonaregularbasisinaccordancewithrelevantregulationsforfixedorintangibleassets.Forinvestmentpropertiesthataresubsequentlymeasuredwithcostmodel,themethodforimpairmentofassetsisshowninNoteIII.23.Thedifferencebetweenthedisposalincomefromsale,transfer,scrapping,ordamageofinvestmentrealestateafterdeductingitsbookvalueandrelatedtaxesandfeesisrecognizedingainsandlossesincurrentperiod.
24.Fixedassets
(1)Recognitionconditions
Thecompany’sfixedassetsrefertotangibleassetsheldfortheproductionofgoods,provisionofservices,rentalorbusinessmanagement,withausefullifeexceedingoneaccountingyear.Fixedassetscanonlyberecognizedwhentheeconomicbenefitsrelatedtothefixedassetarelikelytoflowintotheenterpriseandthecostofthefixedassetcanbereliablymeasured.Thecompany’sfixedassetsareinitiallymeasuredattheiractualcostatthetimeofacquisition.Subsequentexpensesrelatedtofixedassetsarerecognizedasfixedassetcostswhentheeconomicbenefitsrelatedtothemarelikelytoflowintothecompanyandtheircostscanbereliablymeasured;Thedailyrepairexpensesoffixedassetsthatdonotmeetthesubsequentexpenditureconditionsforcapitalizationoffixedassetsshallberecognizedingainsandlossesincurrentperiodorinthecostofrelatedassetsaccordingtothebeneficiariesatthetimeofoccurrence.Forthereplacedpart,itsbookvalueshallbeterminated.
(2)Depreciationmethod
| Category | Method | Yearsofdepreciation | Scrapvaluerate | Yearlydepreciationrate |
| Houseandbuildings | ||||
| Productionbuildings | Straight-linedepreciation | 20-35 | 5 | 2.71-4.75 |
| Non-productionbuildings | Straight-linedepreciation | 20-40 | 5 | 2.38-4.75 |
| Temporarydormitoryandsimpleroometc. | Straight-linedepreciation | 5-15 | 5 | 6.33-19.00 |
| Gasstoragebin | Straight-linedepreciation | 20 | 5 | 4.75 |
| Silo | Straight-linedepreciation | 50 | 5 | 1.9 |
| Wharfandsupportingfacilities | Straight-linedepreciation | 50 | 5 | 1.9 |
| Machineryequipment | Straight-linedepreciation | |||
| Othermachineryequipment | Straight-linedepreciation | 10-20 | 5 | 4.75-9.50 |
| Warehousetransmissionequipment | Straight-linedepreciation | 20 | 5 | 4.75 |
| Transportequipment | Straight-linedepreciation | 3-10 | 5 | 9.50-31.67 |
| Electronicequipmentandothers | Straight-linedepreciation | 2-10 | 5 | 9.50-47.50 |
25.Constructioninprogress
Thecostofconstructioninprogressofthecompanyisdeterminedbasedonactualprojectexpenses,includingnecessaryprojectexpensesincurredduringtheconstructionperiod,borrowingcoststhatshouldbecapitalizedbeforetheprojectreachesitsintendedusablestate,andotherrelatedexpenses.Constructioninprogressistransferredtofixedassetswhenitreachesitsintendedusablestate,anddepreciationisaccruedstartingfromthefollowingmonth.ThemethodforimpairmentofassetsforconstructioninprogresscanbefoundinNoteIII.23oftheauditor’sreport.
26.Borrowingexpenses
（1）Recognitionoftheborrowingexpensescapitalization
Theborrowingcostsincurredbythecompany,whichcanbedirectlyattributedtotheacquisition,constructionorproductionofassetsthatmeetthecapitalizationconditions,shallbecapitalizedandincludedintherelevantassetcosts;Otherborrowingcostsarerecognizedasexpensesbasedontheiramountatthetimeofoccurrenceandincludedinthecurrentprofitandloss.Theborrowingcostsmeetingthefollowingconditionssimultaneouslyshallbecapitalized:
①Assetexpenseshavealreadyoccurred,includingexpensesincurredintheformofcashpayments,transferofnon-cashassets,orassuminginterestbearingdebtsforthepurchase,construction,orproductionofassetsthatmeetcapitalizationconditions;②Theborrowingcostshavealreadybeenincurred;③Thenecessarypurchase,constructionorproductionactivitiestobringtheassetstotheirintendedusableorsaleablestatehavealreadybegun.
(2)DuringthecapitalizationperiodofborrowingcostsWhenassetspurchasedorproducedbythecompanythatmeetcapitalizationconditionsreachtheintendedusableorsaleablestate,thecapitalizationofborrowingcostsshallbeceased.Theborrowingcostsincurredaftertheassetsthatmeetthecapitalizationconditionsreachtheirintendedusableorsaleablestatusarerecognizedasexpensesbasedontheiramountatthetimeofoccurrenceandrecognizedingainsandlossesincurrentperiod.Ifassetsthatmeetthecapitalizationcriteriaexperienceabnormalinterruptionsduringthepurchase,construction,orproductionprocess,andtheinterruptionlastsformorethanthreeconsecutivemonths,thecapitalizationofborrowingcostsshallbesuspended;Theborrowingcostsduringthenormalinterruptionperiodcontinuetobecapitalized.
(3)ThecapitalizationrateofborrowingcostsandthecalculationmethodofcapitalizationamountTheactualinterestexpensesincurredinthecurrentperiodofspecializedborrowing,minustheinterestincomeobtainedfromdepositingunusedborrowingfundsintobanksortheinvestmentincomeobtainedfromtemporaryinvestments,shallbecapitalized;Thecapitalizationamountofgeneralborrowingisdeterminedbymultiplyingtheweightedaverageoftheaccumulatedassetexpendituresthatexceedtheportionofspecializedborrowingbythecapitalizationrateofthegeneralborrowingused.Thecapitalizationrateisdeterminedbasedontheweightedaverageinterestrateofgeneralborrowing.Duringthecapitalizationperiod,allexchangedifferencesonforeigncurrencyborrowingsshallbecapitalized;Theexchangedifferenceofforeigncurrencygeneralborrowingsisrecognizedingainsandlossesincurrentperiod.
27.Biologicalassets
(1)CriteriafordeterminingbiologicalassetsBiologicalassetsrefertoassetscomposedoflivinganimalsandplants.Biologicalassetsthatsimultaneouslymeetthefollowingconditionsshallberecognized:
①Assetexpenseshavealreadyoccurred,includingexpensesincurredintheformofcashpayments,transferofnon-cashassets,orassuminginterestbearingdebtsforthepurchase,construction,orproductionofassetsthatmeetcapitalizationconditions;②Theborrowingcostshavealreadybeenincurred;
③Thenecessarypurchase,constructionorproductionactivitiestobringtheassetstotheirintendedusableorsaleablestatehavealreadybegun.
(2)ClassificationofbiologicalassetsBiologicalassetsincludeconsumablebiologicalassets,productivebiologicalassets,andpublicwelfarebiologicalassets.Thebiologicalassetsofthecompanyareproductivebiologicalassets.①ConsumablebiologicalassetsConsumablebiologicalassetsrefertobiologicalassetsheldforsaleorharvestedinthefutureasagriculturalproducts.Consumablebiologicalassetsareinitiallymeasuredatcost.Thecostofselfcultivation,cultivation,reproduction,orbreedingofconsumablebiologicalassetsreferstothenecessaryexpensesthatcanbedirectlyattributedtotheassetbeforecanopyclosure,includingborrowingcoststhatmeetcapitalizationconditions.Thesubsequentexpensesincurredbyconsumptivebiologicalassetsafterclosurearerecognizedingainsandlossesincurrentperiod.
②ProductivebiologicalassetsProductivebiologicalassetsrefertobiologicalassetsheldforthepurposeofproducingagriculturalproducts,providingservices,orrenting.Productivebiologicalassetsareinitiallymeasuredatcost.Subsequentexpensesincurredonproductivebiologicalassetsafterachievingtheintendedproductionandoperationobjectivesarerecognizedingainsandlossesincurrentperiod.Themainproductivebiologicalassetsofthecompanyareteatrees.Forproductivebiologicalassetsthatachievethepredeterminedproductionandoperationobjectives,depreciationismadewiththestraight-linemethod.Theusefullifeisdeterminedastheremaininglifeoflanduseafterdeductingtheimmatureperiodofteatrees(5years),witharesidualvaluerateof5.00%.Afterdeductingresidualvaluefromtheestimatedusefullifeofbiologicalassets,thedepreciationrateisdeterminedasfollows:
| Categoryofproductivebiologicalassets | Usefullife(years) | Residualvaluerate% | Annualdepreciationrate% |
| Tea | 45 | 0.00 | 2.22 |
Ourcompanyshallreviewtheusefullife,estimatednetresidualvalue,anddepreciationmethodofproductivebiologicalassetsatleastattheendoftheyear.Anychangesshallbetreatedaschangesinaccountingestimates.Thedifferencebetweenthedisposalincomefromthesale,inventoryloss,deathordamageofproductivebiologicalassets,afterdeductingtheirbookvalueandrelatedtaxesandfees,isrecognizedingainsandlossesincurrentperiod.
③PublicwelfarebiologicalassetsPublicwelfarebiologicalassetsrefertobiologicalassetsprimarilyaimedatprotectionandenvironmentalprotection.Publicwelfarebiologicalassetsareinitiallymeasuredatcost.Thecostofselfcreatedpublicwelfarebiologicalassetsreferstothenecessaryexpensesthatcanbedirectlyattributedtotheassetbeforeclosing,includingborrowingcoststhatmeetcapitalizationconditions.Thesubsequentexpensesincurredbypublicwelfarebiologicalassetsafterclosingarerecognizedingainsandlossesincurrentperiod.Publicwelfarebiologicalassetsaresubsequentlymeasuredatcost.Publicwelfarebiologicalassetsarenotsubjecttoprovisionforassetimpairment.Thedifferencebetweenthedisposalincomefromthesale,inventoryloss,deathordamageofpublicwelfarebiologicalassets,afterdeductingtheirbookvalueandrelevanttaxesandfees,isrecognizedingainsandlossesincurrentperiod.
(3)TreatmentofimpairmentofbiologicalassetsIfthenetrealizablevalueofconsumablebiologicalassetsislowerthantheirbookvalue,aprovisionforimpairmentofbiological
assetsshallbemadeintermsofthedifferencebetweenthenetrealizablevalueandthebookvalue,andshallbebookedintogainsandlossesincurrentperiod.Ifthefactorsaffectingtheimpairmentofconsumablebiologicalassetshavedisappeared,thewrite-downamountshouldberestoredandreversedwithintheoriginalprovisionforimpairment,andthereversedamountshouldberecognizedingainsandlossesincurrentperiod.Noprovisionforimpairmentismadeforpublicwelfarebiologicalassets.
28.Oilandgasassets
29.Intangibleassets
(1)Servicelifeanditsdeterminationbasis,estimatedsituation,amortizationmethodorreviewprocedure
Theintangibleassetsofthecompanyincludelanduserights,forestuserights,trademarkuserights,storeoperationrights,softwareuserights,patents,andothers.Intangibleassetsareinitiallymeasuredatcostandanalyzedfortheirusefullifeuponacquisition.Forintangibleassetswithalimitedusefullife,theamortizationmethodthatreflectstheexpectedrealizationofeconomicbenefitsrelatedtotheassetshallbeadoptedfromthetimewhentheintangibleassetisavailableforuse,andshallbeamortizedwithintheexpectedusefullife;Iftheexpectedimplementationmethodcannotbereliablydetermined,thestraight-linemethodshallbeusedforamortization;Intangibleassetswithuncertainusefullivesarenotamortized.Theamortizationmethodforintangibleassetswithlimitedservicelifeisasfollows:
| Item | Usefullife | Basis | Amortizationmethod | Note |
| Landuseright | Amortizedtheactualrestoflifeaftercertificateoflanduserightobtained | Certificateoflanduseright | Straight-linemethod | |
| Foresttreeuseright | Servicelifearranged | Protocolagreement | Straight-linemethod | |
| Trademarkuseright | 10years | ActualsituationoftheCompany | Straight-linemethod | |
| Shopmanagementright | Servicelifearranged | Protocolagreement | Straight-linemethod | |
| Softwareuseright | 5-8years | Protocolagreement | Straight-linemethod | |
| Patentsandothers | 20years | ActualsituationoftheCompany | Straight-linemethod |
Attheendofeachfiscalyear,thecompanyreviewstheusefullifeandamortizationmethodofintangibleassetswithlimitedusefullives.Iftherearedifferencesfrompreviousestimates,theoriginalestimateswillbeadjustedandtreatedaschangesinaccountingestimates.Ifitisexpectedthatacertainintangibleassetwillnolongerbringfutureeconomicbenefitstotheenterpriseonthebalancesheetdate,thebookvalueoftheintangibleassetshallbefullytransferredtothegainsandprofitsofcurrentperiod.
(2)ThecollectionscopeandrelatedaccountingtreatmentmethodsofR&Dexpenditure
1.GeneralprinciplesTheR&DexpensesofthecompanyaredirectlyrelatedtoourR&Dactivities,includingemployeesalaries,directinvestmentexpenses,depreciationexpensesandlong-termdeferredexpenses,designexpenses,equipmentdebuggingexpenses,intangibleassetamortizationexpenses,andotherexpenses.ThesalariesofR&DpersonnelareallocatedtoR&Dexpensesbasedonprojectworking
hours.Thesharingofequipment,productionlines,andvenuesbetweenR&DactivitiesandotherproductionandoperationactivitiesisallocatedasR&Dexpensesbasedontheproportionofworkinghoursandarea.ThecompanydistinguishestheexpensesforinternalR&Dprojectsintoresearchstageexpensesanddevelopmentstageexpenses.Researchstage:Thestageofcreativeandplannedinvestigationandresearchactivitiesaimedatacquiringandunderstandingnewscientificortechnologicalknowledge.Developmentstage:Thestageinwhichresearchresultsorotherknowledgeareappliedtoaplanordesigntoproduceneworsubstantiallyimprovedmaterials,devices,products,andotheractivitiesbeforecommercialproductionoruse.Theexpensesincurredduringtheresearchphasearerecognizedinthegainsandprofitsofcurrentperiodwhenincurred.Expendituresduringthedevelopmentphasecanonlybecapitalizediftheymeetthefollowingconditions:completingtheintangibleassettomakeittechnicallyfeasibleforuseorsale;Hastheintentiontocompletetheintangibleassetanduseorsellit;Thewaysinwhichintangibleassetsgenerateeconomicbenefits,includingtheabilitytoprovethattheproductsproducedwiththeintangibleassetortheintangibleassetaremarketable,andtheabilitytoproveitsusefulnessiftheintangibleassetwillbeusedinternally;Havesufficienttechnical,financial,andotherresourcestosupportthedevelopmentoftheintangibleassetandtheabilitytouseorselltheintangibleasset;Theexpensesattributabletothedevelopmentstageoftheintangibleassetcanbereliablymeasured.Developmentexpensesthatdonotmeettheaboveconditionsarerecognizedinthegainsandprofitsofcurrentperiod.Aftermeetingtheaboveconditionsandconductingtechnicalandeconomicfeasibilitystudies,thecompany'sR&Dprojectentersthedevelopmentstageafterbeingapproved.Thecapitalizedexpensesduringthedevelopmentstagearelistedasdevelopmentexpensesonthebalancesheetandareconvertedintointangibleassetsfromthedatetheprojectreachesitsintendeduse.
2.CapitalizationconditionsforspecificR&DprojectsAftertheR&Dprogressmeetsthefollowingthreeconditions,theprojectbeginstobecapitalized:①Technicallyfeasible,theoreticallyrelativelymature,preliminaryprocesscomplete,andcanbetransferredtotheactualproductionstagetofurtheroptimizeandimprovetheprocess;②Thetechnicalachievementsofprojectresearchanddevelopmentarefeasibleandcanbeappliedtotheproductionorimprovementofsimilarproducts;③Theprojecttechnologyhasthevalueandpossibilityofapplyingforinventionpatents,andcanalsobeusedasproprietarytechnologyofthecompany.
30.Impairmentoflong-termassets
Theimpairmentofassetssuchaslong-termequityinvestmentsinsubsidiaries,associatedenterprises,andjointventures,investmentrealestate,fixedassets,constructioninprogress,productivebiologicalassetsmeasuredwithcostmodels,right-of-useassets,intangibleassets,andgoodwill(excludinginventory,deferredincometaxassets,andfinancialassets)shallbedeterminedwiththefollowingmethod:
Onthebalancesheetdate,itisdeterminedwhetherthereareanysignsofpossibleimpairmentofassets.Iftherearesignsofimpairment,thecompanywillestimateitsrecoverableamountandconductimpairmenttesting.Impairmenttestsareconductedannuallyforgoodwill,intangibleassetswithuncertainusefullives,andintangibleassetsthathavenotyetreachedausablestate,regardlessofwhethertherearesignsofimpairment,resultingfrombusinessmergers.Therecoverableamountisdeterminedbasedonthehigherofthenetamountafterdeductingdisposalexpensesfromthefairvalueoftheassetandthepresentvalueoftheexpectedfuturecashflowsoftheasset.Thecompanyestimatesitsrecoverableamountbasedonindividualassets;Ifitisdifficulttoestimatetherecoverableamountofasingleasset,therecoverableamountoftheassetgroupshallbedeterminedbasedontheassetgrouptowhichtheassetbelongs.Therecognitionofanassetgroupisbasedonwhetherthemain
cashinflowsgeneratedbytheassetgroupareindependentofthecashinflowsofotherassetsorassetgroups.Whentherecoverableamountofanassetorassetgroupislowerthanitsbookvalue,thecompanywillwritedownitsbookvaluetotherecoverableamount,andthewrittendownamountwillberecognizedinthegainsandprofitsofcurrentperiod,whilemakingcorrespondingprovisionsforassetimpairment.Asfortheimpairmenttestofgoodwill,thebookvalueofgoodwillformedbyenterprisemergershallbeallocatedtotherelevantassetgroupinareasonablemannerfromthedateofpurchase;Ifitisdifficulttoallocatetotherelevantassetgroups,allocateittotherelevantassetgroupportfolio.Therelevantassetgroupsorassetgroupportfoliorefertoassetgroupsorassetgroupportfoliothatcanbenefitfromthesynergisticeffectsofenterprisemergers,andarenotlargerthanthereportingbranchesdeterminedbythecompany.Whenconductingimpairmenttesting,iftherearesignsofimpairmentinassetgroupsorassetgroupportfoliosrelatedtogoodwill,thefirststepistoconductimpairmenttestingonassetgroupsorassetgroupportfoliothatdonotincludegoodwill,calculatetherecoverableamount,andrecognizethecorrespondingimpairmentlosses.Thenconductimpairmenttestsonassetgroupsorassetgroupcombinationscontaininggoodwill,andcomparetheirbookvaluewiththeirrecoverableamount.Iftherecoverableamountislowerthanthebookvalue,recognizeimpairmentlossesongoodwill.Onceassetimpairmentlossesarerecognized,theywillnotbereversedinfutureaccountingperiods.
31.LongtermdeferredexpensesThelong-termdeferredexpensesincurredbythecompanyarevaluedatactualcostandamortizedonanaverageovertheexpectedbenefitperiod.Forlong-termdeferredexpensesthatcannotbenefitfutureaccountingperiods,theiramortizedvalueisfullyrecognizedinthegainsandprofitsofcurrentperiod.
32.Contractliabilities
33.Employeecompensation
(1)Accountingtreatmentmethodsforshort-termcompensationDuringtheaccountingperiodwhentheemployeesproviderservicetothecompany,theactualemployeewages,bonuses,medicalinsurancepremiums,work-relatedinjuryinsurancepremiums,maternityinsurancepremiums,andhousingprovidentfundpaidtoemployeesaccordingtoprescribedstandardsandproportionsarerecognizedasliabilitiesandincludedinthegainsandprofitsofcurrentperiodorrelatedassetcosts.
(2)AccountingtreatmentmethodsforpostemploymentbenefitsThepostemploymentwelfareplanincludesadefinedcontributionplanandadefinedbenefitplan.Inthedefinedcontributionplan,thecompanynolongerbearsfurtherpaymentobligationsafterpayingfixedfeestoanindependentfund;Adefinedbenefitplanreferstoapostemploymentwelfareplanotherthanadefinedcontributionplan.DefinedcontributionplansIncludebasicpensioninsurance,unemploymentinsurance,andenterpriseannuityplans.Duringtheaccountingperiodwhenemployeesprovideservices,theamountofcontributionscalculatedbasedonthedefinedcontributionplanisrecognizedasliabilityandincludedinthegainsorlossesofcurrentperiodorrelatedassetcosts.Definedbenefitplans
Fordefinedbenefitplans,theactuarialvaluationisconductedbyanindependentactuaryontheannualbalancesheetdate,andthecostofprovidingbenefitsisdeterminedwiththeexpectedcumulativebenefitunitmethod.Theemployeecompensationcostresultingfromthedefinedbenefitplansetbythecompanyincludesthefollowingcomponents:
①Servicecosts,includingcurrentservicecosts,pastservicecosts,andsettlementgainsorlosses.Amongthem,thecurrentservicecostreferstotheincreaseinthepresentvalueofobligationsofthedefinedbenefitplancausedbytheprovisionofservicesbyemployeesinthecurrentperiod;Thepastservicecostreferstotheincreaseordecreaseinthepresentvalueofthedefinedbenefitplanobligationsrelatedtoemployeeservicesinthepreviousperiodcausedbythemodificationofthedefinedbenefitplan.
②Thenetinterestonnetliabilitiesornetassetsofadefinedbenefitplan,includinginterestincomeonassetsofdefinedbenefitplan,interestexpensesonobligationsofdefinedbenefitplan,andinterestaffectedbyassetcap.
③Thechangesresultingfromremeasuringthenetliabilitiesornetassetsofthedefinedbenefitplan.Unlessotheraccountingstandardsrequireorallowemployeewelfarecoststobeincludedinassetcosts,thecompanywillincludeitems①and②inthegainsandprofitsofcurrentperiod;The③isincludedinothercomprehensiveincomeandwillnotbereversedtoprofitorlossinsubsequentaccountingperiods.Whentheoriginaldefinedbenefitplanisterminated,alltheportionoriginallyincludedinothercomprehensiveincomewillbecarriedovertoundistributedprofitswithinthescopeofequity.
(3)Accountingtreatmentmethodsforterminationbenefits
Ifthecompanyprovidesterminationbenefitstoemployees,theemployeecompensationliabilityarisingfromterminationbenefitsshallberecognizedandincludedinthegainsandprofitsofcurrentperiodassoonaspossible,whenthecompanycannotunilaterallywithdrawtheterminationbenefitsprovidedduetotheterminationoflaborrelationsplanorlayoffproposal;Whenthecompanyconfirmsthecostsorexpensesrelatedtorestructuringinvolvingpaymentofterminationbenefits.Forthosewhoimplementaninternalretirementplanforemployees,economiccompensationbeforetheofficialretirementdateisconsideredasterminationbenefits.Duringtheperiodfromthedatetheemployeestopsprovidingservicestothenormalretirementdate,thesalaryandsocialinsurancepremiumstobepaidtotheretiredemployeeshallbeincludedinthecurrentprofitandlossinalumpsum.Economiccompensationaftertheofficialretirementdate(suchasnormalpension)shallbetreatedaspostemploymentbenefits.
(4)Accountingtreatmentmethodforotherlong-termemployeebenefits
Otherlong-termemployeebenefitsprovidedbythecompanytoemployeesthatmeettheconditionsfordefinedcontributionplanshallbehandledinaccordancewiththerelevantprovisionsonsettingupadefinedcontributionplanmentionedabove.Thosewhichmeetconditionsfordefinedbenefitplanshallbetreatedinaccordancewiththerelevantprovisionsonthesetbenefitplanmentionedabove.However,“changesarisingfromremeasuringthenetliabilitiesornetassetsofthesetbenefitplan”intherelevantemployeecompensationshallbeincludedinthecurrentprofitandlossorrelatedassetcost.
34.Accrualliability
TheCompanywillrecognizetheobligationsrelatedtocontingenciesasexpectedliabilitieswhentheymeetthefollowingconditions:
(1)TheresponsibilityisacurrentresponsibilityundertakenbytheCompany;
(2)Fulfillingoftheresponsibilitymayleadtofinancialbenefitoutflow;
(3)Theresponsibilitycanbemeasuredreliablyforitsvalue.Accrualliabilitiesareinitiallymeasuredbasedonthebestestimateoftheexpensesrequiredtofulfillcurrentobligations,takinginto
accountfactorssuchasrisk,uncertaintyandtimevalueofmoneyrelatedtocontingencies.Ifthetimevalueofcurrencyhasasignificantimpact,thebestestimateisdeterminedbydiscountingtherelevantfuturecashoutflows.Thecompanyreviewsthebookvalueofestimatedliabilitiesonthebalancesheetdateandadjuststhebookvaluetoreflectthecurrentbestestimate.Ifallorpartoftheexpensesrequiredtosettletheconfirmedaccrualliabilitiesareexpectedtobecompensatedbyathirdpartyorotherparties,thecompensationamountcanonlybeseparatelyrecognizedasanassetwhenitisbasicallycertainthatitwillbereceived.Theconfirmedcompensationamountdoesnotexceedthebookvalueoftherecognizedliability.
35.Share-basedpayment
36.Otherfinancialinstrumentofpreferredstocksandperpetualbond
37.RevenueDisclosureofaccountingpoliciesadoptedforrevenuerecognitionandmeasurementbybusinesstype
(1)GeneralprinciplesThecompanyrecognizesrevenuewhenthecustomeracquirescontroloftherelevantgoodsorservicesinaccordancewiththecontractualobligations.Ifthecontractcontainstwoormoreperformanceobligations,thecompanyshall,onthecommencementdateofthecontract,allocatethetransactionpricetoeachindividualperformanceobligationbasedontherelativeproportionoftheindividualsellingpriceofthegoodsorservicespromisedbyeachindividualperformanceobligation,andmeasurerevenuebasedonthetransactionpriceallocatedtoeachindividualperformanceobligation.Ifoneofthefollowingconditionsismet,itistofulfilltheperformanceobligationwithinacertainperiodoftime;Otherwise,itistofulfiltheperformanceobligationatacertainpointoftime:
①Thecustomerobtainsandconsumestheeconomicbenefitsbroughtbythecompany'sperformanceatthesametimeasthecompanyfulfillsitsobligations.②Customersareabletocontrolthegoodsunderconstructionduringthefulfillmentprocessofthecompany.
③Thegoodsproducedbythecompanyduringtheperformanceprocesshaveirreplaceableuses,andthecompanyhastherighttocollectpaymentsforthecumulativecompletedperformanceportionthroughouttheentirecontractperiod.Forperformanceobligationsperformedduringacertainperiodoftime,thecompanyrecognizesrevenuebasedontheprogressofperformanceduringthatperiod.Incasetheprogressofperformancecannotbereasonablydetermined,whenthecostsalreadyincurredbythecompanyareexpectedtobecompensated,revenueshallberecognizedintermsoftheamountofcostsalreadyincurreduntiltheprogressofperformancecanbereasonablydetermined.Forperformanceobligationsperformedatacertainpointoftime,thecompanyrecognizesrevenueatthepointwhenthecustomerobtainscontroloftherelevantgoodsorservices.Whendeterminingwhetheracustomerhasacquiredcontrolovergoodsorservices,ourcompanywillconsiderthefollowingsigns:
①Thecompanyhasthecurrentpaymentrightforthegoodsorservices,whichmeansthatthecustomerhasacurrentpaymentobligationforthegoods.
②Thecompanyhastransferredthelegalownershipoftheproducttothecustomer,thatis,thecustomeralreadyhaslegalownership
oftheproduct.③Thecompanyhastransferredthephysicalownershipoftheproducttothecustomer,whichmeansthecustomerhasalreadytakenpossessionoftheproduct.
④Thecompanyhastransferredthemainrisksandrewardsofownershipoftheproducttothecustomer,thatis,thecustomerhasacquiredthemainrisksandrewardsofownershipoftheproduct.
⑤Thecustomerhasacceptedtheproductorservice.⑥Othersignsindicatingthatthecustomerhasobtainedcontrolovertheproduct.
(2)Specificmethods
①Revenuefromsalesofgoods:Therevenueisrecognizedafterthegoodssolddomesticallyhavebeendeliveredandmeettherelevanttermsandconditionsstipulatedinthecontract;Therevenueofexportsalesisrecognizedafterthegoodshavebeenshippedanddeclared,andmeettherelevanttermsandconditionsstipulatedinthecontract.②Incomefromprovidinglaborservices:ThecompanyprovidesdynamicgrainandoilreservesandrotationservicestotheShenzhenMunicipalGovernment,andrecognizesincomewhenrelevantlaboractivitiesoccur.Specifically,theincomefromgrainandoilreservesiscalculatedandrecognizedmonthlybasedontheactualamountofgrainandoilreservesandthereservepricesspecifiedintheShenzhenMunicipalGovernmentGrainReserveCostContractOperatingRegulationsandtheShenzhenMunicipalEdibleVegetableOilGovernmentReserveCostContractOperatingRegulations.
③Otherincome:Theamountofusagefeeincomeshallbecalculatedanddeterminedinaccordancewiththechargingtimeandmethodstipulatedintherelevantcontractoragreement;Forincomefromleasingofrealestate,dockwarehouses,andotherproperties,aswellastherevenuefromdockdockingbusiness,thepropertyrentrevenueandwarehousingandlogisticsrevenueshallbecalculatedandrecognizedaccordingtothechargingtimeandmethodstipulatedinthecontractoragreement.Incasesimilarbusinessesadoptdifferentbusinessmodels,differentrevenuerecognitionmethodsandmeasurementmethodswillbeinvolved.
38.Contractcost
Thecontractcostincludestheincrementalcostincurredtoobtainthecontractandthecontractperformancecost.Theincrementalcostincurredtoobtainthecontractreferstothecostthatthecompanywouldnothaveincurredwithoutobtainingthecontract(suchassalescommission).Thecostwhichisexpectedtoberecoveredwillberecognizedbythecompanyasacontractacquisitioncostandasanasset.Exceptfortheexpectedincrementalcoststhatcanberecovered,otherexpensesincurredbythecompanytoobtainthecontractshallbebookedinthegainsandprofitsofcurrentperiod.Ifthecostincurredinfulfillingacontractdoesnotfallwithinthescopeofaccountingstandardsforotherenterprisessuchasinventoryandmeetsthefollowingconditionssimultaneously,thecompanyrecognizesitasacontractperformancecostasanasset:
①Thecostisdirectlyrelatedtoacurrentorexpectedcontract,includingdirectlabor,directmaterials,manufacturingexpenses(orsimilarexpenses),costsclearlybornebythecustomer,andothercostsincurredsolelyduetothecontract;
②Thiscostincreasestheresourcesthatthecompanywilluseinthefuturetofulfillitscontractualobligations;③Thecostisexpectedtoberecovered.Theassetsrecognizedforcontractacquisitioncostsandtheassetsrecognizedforcontractperformancecosts(hereinafterreferredtoas“assetsrelatedtocontractcosts”)areamortizedonthesamebasisastherecognitionofgoodsorservicesrevenuerelatedtothe
assets,andarebookedinthegainsandprofitsofcurrentperiod.Iftheamortizationperioddoesnotexceedoneyear,itshallberecognizedinthecurrentprofitandlosswhenitoccurs.Incasethebookvalueofassetsrelatedtocontractcostsexceedsthedifferencebetweenthefollowingtwoitems,thecompanymakesimpairmentprovisionsfortheexcessandrecognizesitasanassetimpairmentloss:
①Theexpectedremainingconsiderationthatourcompanycanobtainforthetransferofgoodsorservicesrelatedtotheasset;
②Theestimatedcosttobeincurredforthetransferoftherelevantgoodsorservices.
39.Governmentgrant
Governmentgrantisrecognizedwhentheymeettheconditionsattachedtogovernmentgrantsandcanbereceived.Basedontheessenceofeconomictransactions,thecompanydetermineswhetheracertaintypeofgovernmentgrantbusinessshouldbemeasuredwiththetotalamountmethodorthenetamountmethod.Normally,thecompanyonlyusesonemethodforthesameorsimilargovernmentsubsidybusinesses,andconsistentlyappliesthismethodforthatbusiness.
| Item | Accountingcontent |
| Governmentgrantmeasuredwithtotalamountmethod | Allgovernmentgrantbusinesses |
Governmentgrantasmonetaryassetsshallbemeasuredattheamountreceivedorreceivable.Thegovernmentgrantsasnon-monetaryassetsshallbemeasuredatfairvalue;Ifthefairvaluecannotbereliablyobtained,itshallbemeasuredatanominalamountof1yuan.Asset-relatedgovernmentsubsidiesrefertogovernmentgrantsobtainedbythecompanyforthepurchase,construction,orotherformationoflong-termassets;Othersareincome-relatedgovernmentgrants.Forthosewhosetargetsarenotclearlyspecifiedingovernmentdocumentsandformlong-termassets,thegovernmentgrantcorrespondingtotheassetvalueshallberegardedasasset-relatedgovernmentgrants,andtheremainingpartshallberegardedasincome-relatedgovernmentgrants;Incaseitisdifficulttomakedistinguishing,thegovernmentgrantsasawholeshallberegardedasincome-relatedgovernmentgrants.Asset-relatedgovernmentgrantsarerecognizedasdeferredincomeandbookedingainsandlossesinareasonableandsystematicmannerovertheusefullifeoftherelevantassets.Income-relatedgovernmentsubsidieswhichareusedtocompensaterelatedcostsorlossesthathavealreadyoccurred,shallbeincludedinthegainsandprofitsofcurrentperiod;Theincome-relatedgovernmentsubsidieswhichareusedtocompensaterelatedcostsorlossesinfutureperiodsshallberecognizedindeferredincomeandrecognizedingainsandlossesofcurrentperiodduringtherecognitionperiodofrelatedcostsorlosses.Governmentgrantsmeasuredatnominalamountsaredirectlyrecognizedinthegainsandprofitsofcurrentperiod.Thecompanyadoptsaconsistentapproachforhandlingthesameorsimilargovernmentsubsidybusinesses.Governmentgrantsrelatedtodailyactivitiesarerecognizedinotherincomebasedontheessenceofeconomictransactions.Governmentsubsidiesunrelatedtodailyactivitiesareincludedinnon-operatingincome.Whenrecognizedgovernmentsubsidiesneedtobereturned,incasethebookvalueoftherelevantassetsisoffsetattheinitialrecognition,thebookvalueoftheassetsshallbeadjusted;Ifthereisabalanceofrelateddeferredincome,itshalloffsetthebookbalanceofrelateddeferredincome,andtheexcessshallberecognizedinthegainsandprofitsofcurrentperiod;Inothersituations,itshallbedirectlyincludedinthegainsandprofitsofcurrentperiod.Thepolicypreferentialloansandinterestsubsidiesobtainedbythecompanywillbedisposedseparatelybasedonthefollowingtwosituations:
①Thefinancedepartmentallocatesinterestsubsidytothelendingbankandthelendingbankprovidesloanstothecompanyatapolicypreferentialinterestrate:thecompanywillusetheactualreceivedloanamountasthebookvalueoftheloan,andcalculatetherelevantloancostsbasedontheloanprincipalandthepolicypreferentialinterestrate.
②Thefinancedepartmentdirectlyallocatesinterestsubsidytothecompany,thecompanywilloffsettherelevantborrowingcostswiththecorrespondinginterestsubsidy.
40.Deferredincometaxassets/deferredincometaxliabilities
Incometaxincludescurrentincometaxanddeferredincometax.Exceptforadjustmentstogoodwillarisingfromenterprisemergeordeferredincometaxrelatedtotransactionsoreventsdirectlyrecognizedinshareholders’equity,theyareallrecognizedasincometaxexpensesingainsandlossesofcurrentperiod.Thedeferredincometaxisrecognizedwiththebalancesheetliabilitymethodandintermsofthetemporarydifferencebetweenthebookvalueofassetsandliabilitiesonthebalancesheetdateandthetaxbasis.Alltaxabletemporarydifferencesarerecognizedasrelateddeferredincometaxliabilities,unlessthetaxabletemporarydifferencesariseinthefollowingtransactions:
(1)Theinitialrecognitionofgoodwill,ortheinitialrecognitionofassetsorliabilitiesarisingfromtransactionswiththefollowingcharacteristics:thetransactionisnotabusinessmergeranddoesnotaffectaccountingprofitsortaxableincomeatthetimeofthetransaction(exceptforindividualtransactionswheretheinitiallyrecognizedassetsandliabilitiesresultinequaltaxabletemporarydifferencesanddeductibletemporarydifferences);
(2)Fortaxabletemporarydifferencesrelatedtoinvestmentsinsubsidiaries,jointventures,andassociatedenterprises,thetimingofthereversalofsuchtemporarydifferencescanbecontrolledanditislikelythattheywillnotbereversedintheforeseeablefuture.Fordeductibletemporarydifferences,deductiblelossesthatcanbecarriedforwardtofutureyears,andtaxdeductions,thecompanyrecognizesdeferredtaxassetsarisingfromthemtotheextentoffuturetaxableincomethatislikelytobeobtainedforoffsettingdeductibletemporarydifferences,deductiblelosses,andtaxdeductions,unlessthedeductibletemporarydifferencesariseinthefollowingtransactions:
(1)Thistransactionisnotaenterprisemerger,anditdoesnotaffectaccountingprofitsortaxableincomeatthetimeoftransaction(exceptforindividualtransactionswhereinitiallyrecognizedassetsandliabilitiesresultinequaltaxabletemporarydifferencesanddeductibletemporarydifferences);
(2)Fordeductibletemporarydifferencesrelatedtoinvestmentsinsubsidiaries,jointventures,andassociatedenterprises,ifthefollowingconditionsaremetsimultaneously,thecorrespondingdeferredincometaxassetsshallberecognized:temporarydifferencesarelikelytobereversedintheforeseeablefuture,andtaxableincomethatcanbeusedtooffsetdeductibletemporarydifferencesislikelytobeobtainedinthefuture.Onthebalancesheetdate,thecompanymeasuresdeferredincometaxassetsandliabilitiesattheapplicabletaxrateduringtheexpectedperiodofassetrecoveryorliabilitysettlement,andreflectstheincometaximpactoftheexpectedmethodofassetrecoveryorliabilitysettlementonthebalancesheetdate.Onthebalancesheetdate,thecompanyreviewsthebookvalueofdeferredincometaxassets.Ifitislikelythatsufficienttaxableincomewillnotbeobtainedinthefutureperiodtooffsetthebenefitsofdeferredincometaxassets,thebookvalueofdeferredincometaxassetsshallbewrittendown.Whenitishighlypossibletoobtainsufficienttaxableincome,thewrittendownamountshallbereversed.
Onthebalancesheetdate,deferredincometaxassetsanddeferredincometaxliabilitiesarepresentedatthenetamountafteroffsettingwhentheysimultaneouslymeetthefollowingconditions:
(1)Thetaxpayerwithinthecompanyhasthelegalrighttosettlecurrentincometaxassetsandcurrentincometaxliabilitiesonanetbasis;
(2)Deferredincometaxassetsanddeferredincometaxliabilitiesarerelatedtotheincometaxleviedbythesametaxadministrationdepartmentonthesametaxpayerwithinthecompany.
41.Leasing
(1)ThecompanyaslesseeOnthecommencementdateoftheleaseterm,theCompanyrecognizestheright-of-useassetsandleaseliabilitiesforallleases,exceptforsimplifiedshort-termleaseandlowvalueassetlease.Theinitialmeasurementofleaseliabilitiesisbasedonthepresentvalueofleasepaymentsthathavenotbeenpaidonthestartdateoftheleaseterm,calculatedusingtheimplicitinterestrateofthelease.Iftheimplicitinterestrateoftheleasecannotbedetermined,theincrementalborrowingrateisusedasthediscountrate.Theleasepaymentamountincludesfixedpaymentamountandsubstantialfixedpaymentamount.Ifthereisaleaseincentive,therelevantamountoftheleaseincentiveshallbededucted;Variableleasepaymentsdependingonindexorratio;Theexercisepriceofthepurchaseoption,providedthatthelesseereasonablydeterminesthattheoptionwillbeexercised;Theamounttobepaidforexercisingtheoptiontoterminatethelease,providedthattheleasetermreflectsthatthelesseewillexercisetheoptiontoterminatethelease;Andtheexpectedamounttobepaidbasedontheresidualvalueoftheguaranteeprovidedbythelessee.Subsequently,theinterestexpenseoftheleaseliabilityforeachperiodoftheleasetermshallbecalculatedatafixedperiodicinterestrateandincludedinthecurrentprofitandloss.Variableleasepaymentsthatarenotincludedinthemeasurementofleaseliabilitiesarerecognizedinthegainsandprofitsofcurrentperiodwhentheyareactuallyincurred.ShorttermleasingShorttermleasereferstoaleasewithaleasetermnotexceeding12monthsfromthestartdateoftheleaseterm,excludingleaseswithpurchaseoptions.Thecompanywillrecognizetheleasepaymentsforshort-termleasesintherelevantassetcostsorcurrentprofitandlosswiththestraight-linemethodduringeachperiodoftheleaseterm.Forshort-termleasing,thecompanyadoptsthesimplifiedtreatmentmethodmentionedabovefortheitemsthatmeettheshort-termleasingconditionsinthefollowingassettypesaccordingtothecategoryofleasedassets.LowvalueassetleasingThelowvalueassetleasingreferstoleasingwithlowervaluewhenasingleleasedassetisabrandnewasset.Thecompanywillrecordtheleasepaymentsforlowvalueassetleasesintherelevantassetcostsorcurrentprofitandlosswiththestraight-linemethodduringeachperiodoftheleaseterm.Forlowvalueassetleasing,ourcompanychoosestoadoptthesimplifiedtreatmentmethodmentionedabovebasedonthespecificsituationofeachlease.LeasechangeIfthereisachangeinleaseandthefollowingconditionsaremetsimultaneously,thecompanywilltreattheleasechangeasa
separateleaseforaccountingtreatment:①Theleasechangeexpandstheleasescopebyaddingtherighttouseoneormoreleasedassets;②Theincreasedconsiderationisequivalenttotheindividualpricefortheexpansionoftheleasescope,adjustedaccordingtothesituationofthecontract.Iftheleasechangeisnotaccountedforasaseparatelease,ontheeffectivedateoftheleasechange,theCompanyshallreallocatetheconsiderationofthecontractafterthechange,redeterminetheleaseterm,andremeasuretheleaseliabilitybasedonthepresentvalueoftheleasepaymentamountafterthechangeandthereviseddiscountrate.Iftheleasechangeresultsinareductionintheleasescopeorleaseterm,thecompanyshalladjustthebookvalueoftheright-of-useassetsaccordingly,andrecordtherelevantgainsorlossesfrompartialorcompleteterminationoftheleaseinthegainsandprofitsofcurrentperiod.Ifotherleasechangesresultintheremeasurementofleaseliabilities,theCompanyshalladjustthebookvalueoftherightofuseassetsaccordingly.
(2)ThecompanyasalessorWhenthecompanyactsasthelessor,leasesthathavesubstantiallytransferredallrisksandrewardsrelatedtoassetownershiparerecognizedasfinancingleases,whileleasesotherthanfinancingleasesarerecognizedasoperatingleases.FinanceleaseInfinancialleasing,atthebeginningoftheleaseterm,thecompanyusesthenetleaseinvestmentasthebookvalueofthereceivablefinancingleasepayments.Thenetleaseinvestmentisthesumoftheunguaranteedresidualvalueandthepresentvalueoftheleasepaymentsthathavenotyetbeenreceivedonthestartdateoftheleasetermdiscountedattheimplicitinterestrateofthelease.Ourcompany,asthelessor,calculatesandrecognizesinterestincomeforeachperiodoftheleasetermatafixedperiodicinterestrate.Thevariableleasepaymentsobtainedbyourcompanyasthelessor,whicharenotincludedinthenetleaseinvestmentmeasurement,arerecognizedinthegainsandprofitsofcurrentperiodwhenactuallyincurred.ThederecognitionandimpairmentofreceivablefinancingleasepaymentsshallbeaccountedforinaccordancewiththeprovisionsofAccountingStandardsforEnterprisesNo.22-RecognitionandMeasurementofFinancialInstrumentsandAccountingStandardsforEnterprisesNo.23-TransferofFinancialAssets.OperatingleaseTherentofoperatingleasesisrecognizedinthegainsandprofitsofcurrentperiodusingthestraight-linemethodforeachperiodduringtheleaseterm.Theinitialdirectexpensesrelatedtooperatingleasesshallbecapitalized,amortizedovertheleasetermonthesamebasisasrentalincomerecognition,andrecognizedinthegainsandprofitsofcurrentperiodininstallments.Thevariableleasepaymentsrelatedtooperatingleasesthatarenotincludedintheleaseincomearerecognizedinthegainsandprofitsofcurrentperiodwhenactuallyincurred.LeasechangeIfthereisachangeintheoperatinglease,thecompanywilltreatitasanewleaseforaccountingtreatmentfromtheeffectivedateofthechange.Theprepaidorreceivableleasepaymentsrelatedtotheleasebeforethechangeareconsideredasthenewleasepayments.Ifthereisachangeinfinancingleaseandthefollowingconditionsaremetsimultaneously,thecompanywilltreatthechangeasaseparateleaseforaccountingtreatment:
①Thechangeexpandstheleasescopebyaddingtherighttouseoneormoreleasedassets;
②Theincreasedconsiderationisequivalenttotheindividualpricefortheexpansionoftheleasescope,adjustedaccordingtothesituationofthecontract.Ifthereisachangeinfinancingleasethathasnotbeenaccountedforasaseparatelease,theCompanywilltreatthechangedleaseasfollows:①Ifthechangetakeseffectontheleasecommencementdate,theleasewillbeclassifiedasanoperatinglease.TheCompanywilltreatitasanewleasefromtheeffectivedateoftheleasechangeandusethenetleaseinvestmentbeforetheeffectivedateoftheleasechangeasthebookvalueoftheleasedasset;②Ifthechangetakeseffectonthecommencementdateofthelease,theleasewillbeclassifiedasafinancinglease,andthecompanywillconductaccountingtreatmentinaccordancewiththeprovisionsoftheAccountingStandardsforEnterprisesNo.22-RecognitionandMeasurementofFinancialInstrumentsregardingthemodificationorrenegotiationofcontracts.
42.Otherimportantaccountingpolicyandestimation
43.Changesofimportantaccountingpolicyandestimation
(1)Changesofimportantaccountingpolicies?Applicable?Notapplicable
(2)Changesofimportantaccountingestimation
□Applicable?Notapplicable
(3)Implementationofnewaccountingstandardsadjustmentforthefirsttimestartingfrom2024,andimplementationofrelevantfinancialstatementitemsatthebeginningoftheyearforthefirsttime?Applicable?Notapplicable
44.OthersNilVI.Tax
1.Typeoftaxandrateformainapplicabletax
| Taxes | Basis | Rate |
| VAT | Taxablevalue-addedamount(thetaxpayableiscalculatedbymultiplyingthetaxablesalesamountbytheapplicabletaxrateanddeductingtheinputtaxthatcanbedeductedinthecurrentperiod) | 13.00%,9.00%,6.00%,5.00%,3.00% |
| Urbanmaintenanceandconstructiontax | Actuallypaidturnovertax | 7.00%,5.00% |
| Enterpriseincometax | Taxableincome | 25.00%,20.00%,15.00% |
| Propertytax | Price-basedresourcetax,1.2percentoftheremainingvalueafterdeducting20%oftheoriginalvalueoftheproperty;12percentoftherentalincomeiflevybyrents. | 1.20%,12.00% |
| Deedtax | Whenthepropertyrightofthereal | 3.00%-5.00% |
| propertyistransferred,thecontractpriceshallbepaidtotheownerofthepropertyrightinonelumpsum | ||
| Educationsurcharge | Actuallypaidturnovertax | 3.00% |
| Localeducationsurcharge | Actuallypaidturnovertax | 2.00% |
Rateofincometaxfordifferenttaxpayingbody:
| Taxpayingbody | Rateofincometax |
| ShenzhenCerealsHoldingsCo.,Ltd. | 25.00% |
| ShenzhenCerealsGroupCo.,Ltd(hereinafterreferredtoas“SZCG”) | 25.00%,somebusinessesaretax-free |
| ShenzhenHualianGrainandOilTradingCo.,Ltd.(hereinafterreferredtoas“HualianCerealsandOil”) | 25.00% |
| DongguanShenliangHualianCerealsandOilTradingCo.,Ltd(hereinafterreferredtoas“DongguanHualian”) | 25.00% |
| ShenzhenShenliangHongjunCateringManagementCo.,Ltd.(hereinafterreferredtoas“ShenliangHongjun”) | 25.00% |
| ShenzhenFlourCo.,Ltd(hereinafterreferredtoas“ShenzhenFlour”) | 25.00%,somebusinessesaretax-free |
| ShenliangQualityInspectionCo.,Ltd.(hereinafterreferredtoas“ShenliangQualityInspection”) | 20.00% |
| HainanShenliangOil&FoodCo.,Ltd.(hereinafterreferredtoas“HainanOil&Food”) | 20.00% |
| ShenzhenShenliangDoximiBusinessCo.,Ltd.(hereinafterreferredtoas“Doximi”) | 25.00% |
| ZhenpinMarketOperationTechnologyCo.,Ltd.(hereinafterreferredto“ZhenpinMarket”) | 25.00% |
| ShenzhenShenliangBigKitchenFoodSupplyChainCo.,Ltd(hereinafterreferredtoas“BigKitchen”) | 25.00% |
| ShenzhenShenliangStorage(Yingkou)Co.,Ltd(hereinafterreferredtoas“YingkouStorage”) | 25.00% |
| ShenzhenShenliangColdChainLogisticsCo.,Ltd.(hereinafterreferredtoas“ColdChainLogistics”) | 15.00% |
| ShenzhenShenliangPropertyDevelopmentCo.,Ltd.(hereinafterreferredtoas“ShenliangPropertyDevelopment”) | 25.00% |
| ShenzhenShenliangPropertyManagementCo.,Ltd.(hereinafterreferredtoas“ShenliangPropertyManagement”) | 20.00% |
| DongguanShenliangLogisticsCo.,Ltd.(hereinafterreferredtoas“DongguanLogistics”) | 25.00% |
| DongguanInternationalFoodIndustrialParkDevelopmentCo.,Ltd.(hereinafterreferredtoas“InternationalFood”) | 25.00% |
| DongguanShenliangOil&FoodTradeCo.,Ltd.(hereinafterreferredtoas“DongguanOil&Food”) | 25.00% |
| ShuangyashanShenliangCerealsBaseCo.,Ltd.(hereinafterreferredtoas“Shuangyashan”) | 25.00% |
| ShenzhenShenbaoHuachengTechnologyCo.,Ltd.(hereinafterreferredtoas“ShenbaoHuacheng”) | 15.00% |
| WuyuanJuFangYongTeaIndustryCo.,Ltd(hereinafterreferredtoas“WuyuanJuFangYong”) | 15.00% |
| ShenzhenShenshenbaoInvestmentCo.,Ltd(hereinafterreferredtoas“ShenshenbaoInvestment”) | 25.00% |
| ShenzhenShenshenbaoTeaCultureCommercialManagementCo.,Ltd.(hereinafterreferredtoas“ShenbaoTeaCulture”) | 25.00% |
| HangzhouJuFangYongHoldingCo.,Ltd(hereinafterreferredtoas“JuFangYongHolding”) | 25.00% |
| HangzhouFuhaitangCateringManagementChainCo.,Ltd.(hereinafterreferredtoas“FuhaitangCatering”) | 25.00% |
| HangzhouFuhaitangTeaEcologyTechnologyCo.,Ltd(hereinafterreferredtoas“FuhaitangTeaEcology”) | 25% |
| MountWuyiShenbaoRockTeaCo.,Ltd.(hereinafterreferredtoas“ShenbaoRockTea”) | 25.00% |
| YunnanShenbaoPu’erTeaSupplyChainManagementCo.,Ltd.(hereinafterreferredtoas“Pu’erTeaSupplyChain”) | 25.00% |
| ShenzhenShenliangFoodCo.,Ltd.(hereinafterreferredtoas“ShenzhenShenliangFood”) | 25.00% |
| HuizhouShenliangFoodCo.,Ltd.(hereinafterreferredtoas“HuizhouShenliangFood”) | 25.00% |
| HuizhouShenbaoTechnologyCo.,Ltd.(hereinafterreferredtoas“HuizhouShenbao”) | 25.00% |
| ShenliangHongliGrainandOil(Shenzhen)Co.,Ltd(hereinafterreferredtoas“ShenliangHongli”) | 25.00% |
2.Preferentialtaxation
1.VATdiscountsandapprovalAccordingtothe“NoticeoftheMinistryofFinanceandtheStateAdministrationofTaxationontheIssuesConcerningtheVATCollectionandExemptionofGrainEnterprises(CSZ[1999]No.198)”and“ShenzhenTaxService,StateTaxationAdministrationandShenzhenFinanceBureauSGSF(SCF[1999]No.428)”,confirmingthatSZCG,theCompany’ssubsidiary,anditssubsidiaries,arestate-ownedgrainpurchaseandsaleenterprisesthatundertakegraincollectionandstoragetasksforShenzhen,thegrainsoldissubjecttotax-freedeclarationbyruleandenjoystheexemptionfromVAT.Inaddition,accordingtothestipulationofthe“AnnouncementofStateAdministrationofTaxationonRelevantManagementMattersAfterClarifyingtheCancellationoftheApprovalofSomeVATPreferentialPolicies”(SATAnnouncement2015No.38),theapprovalforexemptionfromVATandtheinvolvedtaxreviewandapprovalproceduresforthestate-ownedgrainenterprisesthatundertakegraincollectionandstoragetasks,othergrainenterprisesthatoperatetax-freeprojectsandenterprisesthathaveediblevegetableoilsalesbusinessforgovernmentreservesarecanceledandchangedtorecordmanagement.Thetaxpayerdoesnotchangethecontentoftherecordmaterialsduringtheperiodoftaxexemptioncanbeputonaone-timerecord.InDecember2013,SZCGobtainedthenoticeoftheVATpreferentialrecord(SGSFJBM[2013]No.2956)fromShenzhenFutianStateAdministrationofTaxation.Inthecaseofnochangeinpolicy,thislimitedfilingperiodstartedonJanuary1
st
,2014.TheVATinputtaxamountofthepreferentialitemwasseparatelyaccountedfor,andtheinputVATcalculationmethodcannotbechangedwithin36monthsaftertheselection.AsofJune30,2024,thetaxexemptionpolicyhasbeenineffectsinceitsfilingin2014,andthecompany’sVATinputtaxhasnotchangedsinceitwasaccountedforseparatelyin2014,sothecompanycontinuestoenjoythetaxpreference.
2.Stampduty,housepropertytax,andurbanlandusetaxpreferencesAccordingtothestipulationsoftheAnnouncementoftheMinistryofFinanceandtheStateAdministrationofTaxationonContinuingtheImplementationofTaxPreferentialPoliciesforSomeNationalReserveCommodityReserves([2023]No.48)”,confirmingthatthefundaccountbookofSZCG,theCompany’ssubsidiary,anditsdirectdepotsisexemptfromstampduty,confirmingthatthewrittenpurchaseandsalecontractsofSZCGintheprocessofundertakingthecommodityreservebusinessareexemptfromstampduty,andconfirmingthatSZCG’shousepropertyandlandusedforthecommodityreservebusinessareexemptfromhousepropertytaxandurbanlandusetax.TheexecutiontimelimitforthistaxpreferencepolicyisfromJanuary1,2024toDecember31,2027.
3.Enterpriseincometax
(1)OnMay27,2021,theGeneralAdministrationofTaxation,MinistryofFinanceissuedtheNoticeontheExtensionofPreferentialPoliciesofEnterpriseIncomeTaxofQianhaiShenzhen-HongKongModernServiceIndustryCooperationZoneinShenzhen,theenterpriseincometaxofqualifiedenterpriseslocatedinQianhaiShenzhen-HongKongModernServiceIndustryCooperationZoneisleviedattherateof15.00%,andtheNoticetobeimplementedfromJanuary1,2021toDecember31,2025.TheCompany'ssubsidiarycoldchainlogisticsisregisteredinShenzhenQianhaiCooperationZone,whichiseligibleforpreferentialtaxconditions.Accordingtorelevantpoliciesofthecooperationzone,itsincometaxwillenjoyapreferentialtaxof15.00%
(2)OnDecember23,2021,ShenbaoHuacheng,asubsidiaryoftheCompany,obtainedtheHigh-techEnterpriseCertificate(CertificateNo.:GR202144205394)jointlyissuedbytheShenzhenScienceandTechnologyBureau,theShenzhenFinanceBureau,andtheShenzhenTaxService,StateTaxationAdministration,whichisvalidforthreeyears.Accordingtotherelevantpreferentialpoliciesofthestateforhigh-techenterprises,thequalifiedhigh-techenterpriseswillpaycorporateincometaxatareducedincome
taxrateof15.00%withinthreeyearsfromtheyearofidentification.ShenbaoHuachengwillenjoythepreferentialtaxpolicyfrom2021to2024.
(3)OnNovember3,2021,WuyuanJuFangYong,asubsidiaryoftheCompany,obtainedtheHigh-techEnterpriseCertificate(CertificateNo.:GR202136000731)jointlyissuedbytheScienceandTechnologyDepartmentofJiangxiProvince,theFinanceDepartmentofJiangxiProvince,andtheJiangxiProvincialTaxService,StateTaxationAdministration,whichisvalidforthreeyears.Accordingtotherelevantpreferentialpoliciesofthestateforhigh-techenterprises,qualifiedhigh-techenterpriseswillpaycorporateincometaxatareducedincometaxrateof15.00%withinthreeyearsfromtheyearofidentification.WuyuanJuFangYongwillenjoythepreferentialtaxpolicyfrom2021to2024.
④AccordingtotheNoticeoftheMinistryofFinanceandtheStateTaxationAdministrationontheTreatmentofCorporateIncomeTaxTreatmentofFiscalFundsforSpecialPurposes(CS[2009]No.87),thegovernmentalserviceincomesobtainedbySZCG,theCompany’ssubsidiary,anditssubordinatecompaniesbycarryingoutgovernmentgrainreservesbusinessarefiscalfundsforspecialpurposes,thosethatmeettherequirementscanberegardedasnon-taxableincomesanddeductedfromthetotalincomewhencalculatingthetaxableincome.Expensesarisingfromtheuseoftheabovenon-taxableincomeforexpenditureshallnotbedeductedfromthecalculationoftaxableincome;forassetsformedfromexpenditure,thecalculateddepreciationandamortizationshallnotbedeductedfromthecalculationoftaxableincome.
⑤ShenzhenFlour,asubsidiaryoftheCompany,isaflourprimaryprocessingenterprise,accordingtothestipulationsofthe“NoticeonIssuingtheScope(Trial)ofPrimaryProcessingofAgriculturalProductsApplicabletotheCorporateIncomeTaxPreferentialPolicy(CS[2008]No.149)”andthe“SupplementaryNoticeontheScopeofPrimaryProcessingofAgriculturalProductsApplicabletotheCorporateIncomeTaxPreferentialPolicyoftheMinistryofFinanceandtheStateAdministrationofTaxation”(CS[2011]No.26),thewheatprimaryprocessingisexemptfromincometax.
⑥AccordingtotheAnnouncementoftheMinistryofFinanceandtheStateTaxationAdministrationontheImplementationofPreferentialIncomeTaxPoliciesforSmallandMicroEnterprises([2022]No.13),fromJanuary1,2022toDecember31,2024,thepartoftheannualtaxableincomeofsmallandlow-profitenterprisesnotexceeding1.00millionyuanshallbeincludedinthetaxableincomeatareducedrateof25.00%,andtheenterpriseincometaxshallbepaidatataxrateof20.00%.Thecompany’ssubsidiaryHainanGrainandOil,ShenliangPropertyandShenliangQualityInspectionaresmallprofitenterprisesandinlinewiththepreferentialtaxconditions.
3.OtherVII.Notestomainitemsofconsolidatedfinancialstatements
1.Monetaryfunds
InRMB
| Item | Endingbalance | Beginningbalance |
| Cashonhand | 9,350.71 | 10,106.10 |
| Cashinbank | 76,739,623.56 | 233,808,796.22 |
| Othermonetaryfund | 4,839,681.02 | 2,565,704.28 |
| Total | 81,588,655.29 | 236,384,606.60 |
Otherexplanation:
Thedetailsofmonetaryfundsthatarerestrictedinuseduetomortgage,pledge,orfreezing,restrictedincentralizedmanagementandwithdrawaloffunds,andrestrictedinrepatriationduetobeingplacedoverseasareasfollows:
| Item | Endingbalance | Endingbalanceoflastperiod |
| Guaranteedeposit | 1,800,000.00 | |
| Letterofcreditdeposit | 4,750,000.00 | 691,708.31 |
| Litigationrelatedfreezing | 2,973,129.00 | 2,973,129.00 |
| Other | ||
| Total | 7,723,129.00 | 5,464,837.31 |
2.Tradablefinancialassets
InRMB
| Item | Endingbalance | Beginningbalance |
| Financialassetsmeasuredbyfairvalueandwithvariationreckonedintocurrentgains/losses | 1,122,347.85 | |
| Including: | ||
| Equityinvestmentinstrument | 1,122,347.85 | |
| Including: | ||
| Total | 1,122,347.85 |
Otherexplanation:
3.Derivativefinancialassets
InRMB
| Item | Endingbalance | Beginningbalance |
Otherexplanation:
4.Notereceivable
(1)Bycategory
InRMB
| Item | Endingbalance | Beginningbalance |
| Bankacceptancebill | 113,932.00 | |
| Total | 113,932.00 |
(2)Accruedbaddebtprovision
InRMB
| Category | Endingbalance | Beginningbalance | ||||||||
| Bookvalue | Baddebtprovision | Bookvalue | Bookvalue | Baddebtprovision | Bookvalue | |||||
| Amount | Ratio | Amount | Accrualratio | Amount | Ratio | Amount | Accrualratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
Ifthebaddebtsprovisionofaccountsreceivableismadeonthebasisofthegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
(3)Baddebtprovisionaccrual,collectedorreversalintheperiod
Baddebtprovisionaccrualintheperiod:
InRMB
| Category | Beginningbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrual | Collectedorreversal | Written-off | Other | |||
Includingmajoramountbaddebtprovisioncollectedorreversalintheperiod:
□Applicable?Notapplicable
(4)NotesreceivablealreadypledgedbytheCompanyattheendoftheperiod
InRMB
| Item | Amountpledgeatperiod-end |
(5)Notesendorsementordiscountandundueonbalancesheetdate
| Item | Endingderecognizedamount | Endingnotderecognizedamount |
(6)Notereceivableactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajornotereceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationonnotereceivablechargedoff:
5.Accountreceivable
(1)Byaging
InRMB
| Aging | Endingbookbalance | Beginningbookbalance |
| Within1year(inclusive) | 251,753,250.07 | 185,011,814.38 |
| 1-2years | 4,448,936.32 | 1,411,768.67 |
| 2-3years | 467,145.18 | 732,353.29 |
| Over3years | 95,494,612.88 | 95,284,580.37 |
| 3-4years | 295,299.35 | 2,124,859.32 |
| 4-5years | 2,066,167.80 | 80,685.16 |
| Over5years | 93,133,145.73 | 93,079,035.89 |
| Total | 352,163,944.45 | 282,440,516.71 |
(2)Accruedbaddebtprovision
InRMB
| Category | Endingbalance | Beginningbalance | ||||||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
| Amount | Ratio | Amount | Accrualratio | Amount | Ratio | Amount | Accrualratio | |||
| Accountreceivablewithbaddebtprovisionaccruedonsinglebasis | 99,644,394.91 | 28.29% | 99,547,665.65 | 99.90% | 96,729.26 | 99,603,414.71 | 35.27% | 99,513,955.78 | 99.91% | 89,458.93 |
| Including: | ||||||||||
| Accountreceivablewithbaddebtprovisionaccruedonportfolio | 252,519,549.54 | 71.71% | 3,118,571.98 | 1.23% | 249,400,977.56 | 182,837,102.00 | 64.73% | 3,098,066.95 | 1.69% | 179,739,035.05 |
| Including | ||||||||||
| Portfolioofsalesreceivable | 140,190,638.63 | 39.81% | 3,118,571.98 | 2.22% | 137,072,066.65 | 116,066,604.29 | 41.09% | 3,098,066.95 | 2.67% | 112,968,537.34 |
| Object-specificportfolio | 112,328,910.91 | 31.90% | 112,328,910.91 | 66,770,497.71 | 23.64% | 0.00 | 66,770,497.71 | |||
| Total | 352,163,944.45 | 100.00% | 102,666,237.63 | 29.15% | 249,497,706.82 | 282,440,516.71 | 100.00% | 102,612,022.73 | 36.33% | 179,828,493.98 |
Baddebtprovisionaccruedonsinglebasis
InRMB
| Name | Beginningbalance | Endingbalance | ||||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | Accrualratio | Accrualcauses | |
| Baddebtprovisionaccruedonsinglebasis | 99,603,414.71 | 99,513,955.78 | 99,644,394.91 | 99,547,665.65 | 99.90% | Lowpossibilityofrecovery |
| Total | 99,603,414.71 | 99,513,955.78 | 99,644,394.91 | 99,547,665.65 | ||
Baddebtprovisionaccruedonportfolio:portfolioofsalesreceivable
InRMB
| Name | Endingbalance | ||
| Bookbalance | Baddebtprovision | Accrualratio | |
| Portfolioofsalesreceivable | 140,190,638.63 | 3,118,571.98 | 2.22% |
| Total | 140,190,638.63 | 3,118,571.98 |
Explanationonthebasisfordeterminingportfolio:
Baddebtprovisionaccrualonportfolio:object-specificportfolio
InRMB
| Name | Endingbalance | ||
| Bookbalance | Baddebtprovision | Accrualratio | |
| Object-specificportfolio | 112,328,910.91 | ||
| Total | 112,328,910.91 | ||
Explanationonthebasisfordeterminingportfolio:
Iftheprovisionforbaddebtsofaccountreceivableismadeinaccordancewiththegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
(3)Baddebtprovisionaccrued,collectedorreversalBaddebtprovisionaccruedintheperiod:
InRMB
| Category | Beginningbalance | Changeincurrentperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Chargedoff | Other | |||
| Baddebtprovisionforaccountsreceivable | 102,612,022.73 | 249,557.35 | 195,342.45 | 102,666,237.63 | ||
| Total | 102,612,022.73 | 249,557.35 | 195,342.45 | 102,666,237.63 | ||
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Name | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtprovision |
(4)Accountreceivableactuallychargedoffintheperiod
InRMB
| Item | Amountchargedoff |
Includingmajoraccountreceivablechargedoff:
InRMB
| Enterprise | Nature | Amountchargedoff | Written-offcauses | Procedureofwritten-off | Resultedbyrelatedtransaction(Y/N)? |
Explanationonaccountreceivablechargedoff:
(5)Top5receivablesandcontractassetsatendingbalancebyarrearsparty
InRMB
| Name | Endingbalanceofaccountreceivable | Endingbalanceofcontractassets | Endingbalanceofaccountreceivableandcontractassets | Ratiointotalendingbalanceofaccountreceivableandcontractassets | Endingbalanceofbaddebtprovisionandimpairmentreserveofcontractassets |
| First | 109,554,078.55 | 109,554,078.55 | 31.11% | ||
| Second | 26,793,258.62 | 26,793,258.62 | 7.61% | 267,932.59 | |
| Third | 10,455,627.54 | 10,455,627.54 | 2.97% | 10,455,627.54 | |
| Fourth | 6,776,216.00 | 6,776,216.00 | 1.92% | 67,762.16 | |
| Fifth | 6,039,907.50 | 6,039,907.50 | 1.72% | 1,826.50 | |
| Total | 159,619,088.21 | 159,619,088.21 | 45.33% | 10,793,148.79 |
6.Contractasset
(1)Contractasset
InRMB
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |
(2)Theamountandreasonsforsignificantchangesinbookvalueduringthereportingperiod
InRMB
| Item | Amountofchange | Reasonforchange |
(3)Accruedbaddebtprovision
InRMB
| Category | Endingbalance | Beginningbalance | ||||||||
| Bookvalue | Baddebtprovision | Bookvalue | Bookvalue | Baddebtprovision | Bookvalue | |||||
| Amount | Ratio | Amount | Accrualratio | Amount | Ratio | Amount | Accrualratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
Ifthebaddebtprovisionofaccountreceivableismadeonthebasisofthegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
(4)Baddebtprovisionaccrued,collectedorreversal
InRMB
| Category | Accruedincurrentperiod | Collectedorreversalincurrentperiod | Chargedoffincurrentperiod | Reason |
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtprovision |
Otherexplanation:
(5)Contractassetsactuallychargedoffduringthereportingperiod
InRMB
| Item | Amountchargedoff |
Includingmajorcontractassetschargedoff:
InRMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N)? |
Explanationoncontractassetschargedoff:
Otherexplanation:
7.Accountreceivablefinancing
(1)Categoryofaccountreceivablefinancing
InRMB
| Item | Endingbalance | Beginningbalance |
(2)Accruedbaddebtprovision
InRMB
| Category | Endingbalance | Beginningbalance | ||||||||
| Bookvalue | Baddebtprovision | Bookvalue | Bookvalue | Baddebtprovision | Bookvalue | |||||
| Amount | Ratio | Amount | Accrualratio | Amount | Ratio | Amount | Accrualratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
Thebaddebtprovisionofaccountsreceivableismadeonthebasisofthegeneralmodelofexpectedcreditlosses:
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceonJan.1,2024intheperiod |
ClassificationbasisandaccruedratioofbaddebtprovisionforeachstageExplanationonsignificantchangesinthefinancingbookbalanceofaccountsreceivablewithchangesinimpairmentprovisioninthecurrentperiod:
(3)Baddebtprovisionaccrued,collectedorreversal
Baddebtprovisionaccruedintheperiod:
InRMB
| Category | Beginningbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Written-off | Other | |||
Importantbaddebtprovisioncollectedorreversal
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtprovision |
Otherexplanation:
(4)AccountreceivablefinancingalreadypledgedbytheCompanyatperiod-end
InRMB
| Item | Amountpledgeatperiod-end |
(5)Accountreceivablefinancingendorsementordiscountandundueonbalancesheetdate
InRMB
| Item | Amountderecognizedatperiod-end | Amountnotderecognizedatperiod-end |
(6)Accountreceivablefinancingactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajoraccountreceivablefinancingchargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationonaccountreceivablefinancingchargedoff:
(7)Changesofaccountreceivablefinancingandchangeoffairvalueintheperiod
(8)Otherexplanation
8.Otheraccountsreceivable
InRMB
| Item | Endingbalance | Beginningbalance |
| Otheraccountsreceivable | 23,652,977.28 | 29,127,689.89 |
| Total | 23,652,977.28 | 29,127,689.89 |
(1)Interestreceivable
1)Categoryofinterestreceivable
InRMB
| Item | Endingbalance | Beginningbalance |
2)Significantoverdueinterest
InRMB
| Borrower | Endingbalance | Overdueperiod | Overduereason | Whetherimpairmenthasoccurredanditsjudgmentbasis |
Otherexplanation:
3)Accruedbaddebtprovision
□Applicable?Notapplicable
4)Baddebtprovisionaccrued,collectedorreversal
InRMB
| Category | Beginningbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Written-off | Other | |||
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtprovision |
Otherexplanation:
5)Interestreceivableactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajorinterestreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N)? |
Explanationoninterestreceivablechargedoff:
Otherexplanations:
(2)Dividendreceivable
1)Categoryofdividendreceivable
InRMB
| Item(orinvestee) | Endingbalance | Beginningbalance |
2)Significantdividendreceivablewithagingoveroneyear
InRMB
| Item(orinvestee) | Endingbalance | Aging | Reasonfornotreceived | Whetherimpairmenthasoccurredandits |
3)Accruedbaddebtprovision
□Applicable?Notapplicable
4)Baddebtprovisionaccrued,collectedorreversal
Baddebtprovisionaccruedintheperiod:
InRMB
judgmentbasis
Category
| Category | Beginningbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Written-off | Other | |||
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtprovision |
Otherexplanation:
5)Dividendreceivableactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajordividendreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationondividendreceivablechargedoff:
Otherexplanation:
(3)Otheraccountreceivable
1)Bynature
InRMB
| Nature | Endingbookbalance | Beginningbookbalance |
| Depositandmargin | 8,035,033.66 | 10,671,175.15 |
| Otherintercoursefunds | 118,186,650.76 | 121,009,368.29 |
| Total | 126,221,684.42 | 131,680,543.44 |
2)Byaging
InRMB
| Aging | Endingbookbalance | Beginningbookbalance |
| Within1year(inclusive) | 14,563,793.58 | 18,288,294.29 |
| 1-2years | 7,761,005.90 | 9,503,326.35 |
| 2-3years | 4,927,839.57 | 2,536,281.98 |
| Over3years | 98,969,045.37 | 101,352,640.82 |
| 3-4years | 499,026.82 | 3,501,011.75 |
| 4-5years | 1,625,705.75 | 1,478,563.36 |
| Overfiveyears | 96,844,312.80 | 96,373,065.71 |
| Total | 126,221,684.42 | 131,680,543.44 |
3)Accruedbaddebtprovision
?Applicable□Notapplicable
InRMB
| Category | Endingbalance | Beginningbalance | ||||||||
| Bookvalue | Baddebtprovision | Bookvalue | Bookvalue | Baddebtprovision | Bookvalue | |||||
| Amount | Ratio | Amount | Accrualratio | Amount | Ratio | Amount | Accrualratio | |||
| Baddebtprovisionaccruedonsinglebasis | 101,844,895.11 | 80.68% | 99,904,291.27 | 98.09% | 1,940,603.84 | 102,362,618.93 | 77.73% | 99,905,653.94 | 97.60% | 2,456,964.99 |
| Including: | ||||||||||
| Baddebtprovisionaccruedonportfoliobasis | 24,376,789.31 | 19.32% | 2,664,415.87 | 10.93% | 21,712,373.44 | 29,317,924.51 | 22.27% | 2,647,199.61 | 9.03% | 26,670,724.90 |
| Including | ||||||||||
| Portfolioofexpectedcreditriskfeature | 10,327,085.67 | 8.73% | 2,641,214.77 | 25.58% | 7,685,870.90 | 11,021,354.40 | 8.37% | 2,647,199.61 | 24.02% | 8,374,154.79 |
| Object-specificportfolio | 14,049,703.64 | 10.59% | 23,201.10 | 0.17% | 14,026,502.54 | 18,296,570.11 | 43.90% | 18,296,570.11 | ||
| Total | 126,221,684.42 | 100.00% | 102,568,707.14 | 23,652,977.28 | 131,680,543.44 | 100.00% | 102,552,853.55 | 29,127,689.89 | ||
Typeofbaddebtprovisionaccruedonsinglebasis:
InRMB
| Name | Beginningbalance | Endingbalance | ||||
| Bookvalue | Baddebtprovision | Bookvalue | Baddebtprovision | Bookvalue | Baddebtprovision | |
| Baddebtprovisionaccruedonsinglebasis | 102,362,618.93 | 99,905,653.94 | 101,844,895.11 | 99,904,291.27 | 98.09% | Thepossibilityofretrievalisextremelysmall |
| Total | 102,362,618.93 | 99,905,653.94 | 101,844,895.11 | 99,904,291.27 | ||
Typeofbaddebtprovisionaccruedonportfoliobasis:Portfolioofexpectedcreditriskfeature
InRMB
| Name | Endingbalance | ||
| Bookvalue | Baddebtprovision | Withdrawalproportion | |
| Portfolioofexpectedcreditriskfeature | 10,327,085.67 | 2,641,214.77 | 25.58% |
| Total | 10,327,085.67 | 2,641,214.77 | |
ExplanationonthebasisofdefiningsuchportfolioTypeofbaddebtprovisionaccruedonportfoliobasis:
InRMB
| Name | Endingbalance | ||
| Bookvalue | Baddebtprovision | Withdrawalproportion | |
| Object-specificportfolio | 14,049,703.64 | 23,201.10 | |
| Total | 14,049,703.64 | 23,201.10 | |
Iftheprovisionforbaddebtsofaccountsreceivableismadeonthebasisofthegeneralmodelofexpectedcreditlosses:
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceofJan.1,2024 | 2,647,199.61 | 99,905,653.94 | 102,552,853.55 | |
| BalanceofJan.1,2024intheperiod | ||||
| Currentaccrual | 18,292.31 | 18,292.31 | ||
| Currentreversal | 2,002.99 | 435.73 | 2,438.72 | |
| Otherchanges | 926.94 | -926.94 | 0.00 | |
| BalanceonJune30,2024 | 2,664,415.87 | 99,904,291.27 | 102,568,707.14 |
ClassificationbasisandbaddebtprovisionratioforeachstageChangesinbookbalancewithsignificantchangesinimpairmentprovisioninthecurrentperiod
□Applicable?Notapplicable
4)Baddebtprovisionaccrued,collectedorreversalBaddebtprovisionaccruedintheperiod:
InRMB
| Category | Beginningbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Written-off | Other | |||
| Baddebtprovisionofotheraccountsreceivable | 102,552,853.55 | 18,292.31 | 2,438.72 | 102,568,707.14 | ||
| Total | 102,552,853.55 | 18,292.31 | 2,438.72 | 102,568,707.14 | ||
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Name | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtprovision |
5)Otheraccountreceivableactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajorotheraccountreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationonotheraccountreceivablechargedoff:
6)Top5otheraccountsreceivableatendingbalancebyarrearsparty
InRMB
| Enterprise | Nature | Endingbalance | Aging | Proportionintotalotherreceivablesatendingbalance(%) | Endingbalanceofbaddebtprovision |
| First | Intercoursefunds | 24,108,742.46 | Overfiveyears | 19.10% | 22,187,644.18 |
| Second | Intercoursefunds | 8,326,202.63 | Overfiveyears | 6.60% | 8,326,202.63 |
| Third | Intercoursefunds | 8,285,803.57 | Overfiveyears | 6.56% | 8,285,803.57 |
| Fourth | Intercoursefunds | 8,257,311.80 | Overfiveyears | 6.54% | 8,257,311.80 |
| Fifth | Intercoursefunds | 6,781,000.00 | Overfiveyears | 5.37% | |
| Total | 55,759,060.46 | 44.18% | 47,056,962.18 |
7)Thosebookedintootheraccountreceivablesduetocentralizedfundmanagement
InRMBOtherexplanation:
9.Accountpaidinadvance
(1)Byaging
InRMB
| Aging | Endingbalance | Beginningbalance | ||
| Amount | Ratio | Amount | Ratio | |
| Within1year | 66,993,762.15 | 98.30% | 16,244,819.71 | 94.26% |
| 1-2year | 822,570.56 | 1.21% | 676,069.63 | 3.92% |
| 2-3years | 35,649.86 | 0.05% | 95,050.89 | 0.55% |
| Over3years | 297,072.05 | 0.44% | 218,761.69 | 1.27% |
| Total | 68,149,054.62 | 17,234,701.92 | ||
Explanationonreasonsfornottimelysettlingimportantaccountpaidinadvancewithageoveroneyear:
(2)Top5accountspaidinadvanceatendingbalancebyprepaymentobject
| Prepaidobjects | Endingbalance | Proportionintotalprepaymentbalanceattheendofperiod(%) |
| First | 38,640,000.00 | 56.70 |
| Second | 6,455,967.75 | 9.47 |
| Third | 5,894,976.91 | 8.65 |
| Prepaidobjects | Endingbalance | Proportionintotalprepaymentbalanceattheendofperiod(%) |
| Fourth | 4,135,560.00 | 6.07 |
| Fifth | 2,675,633.12 | 3.93 |
| Total | 57,802,137.78 | 84.82 |
Otherexplanation:
10.InventoryDoestheCompanyneedtocomplywiththedisclosurerequirementsoftherealestateindustry?No
(1)Bycategory
InRMB
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Inventoriesfallprovisionorcontractperformancecostsimpairmentprovision | Bookvalue | Bookbalance | Inventoriesfallprovisionorcontractperformancecostsimpairmentprovision | Bookvalue | |
| Rawmaterials | 70,142,518.71 | 15,117,598.01 | 55,024,920.70 | 63,123,938.67 | 15,039,481.32 | 48,084,457.35 |
| Goodsinprocess | 24,881,677.33 | 24,881,677.33 | 27,382,027.01 | 27,382,027.01 | ||
| Finishedgoods | 3,744,804,898.48 | 121,390,592.69 | 3,623,414,305.79 | 3,449,447,657.13 | 87,071,319.87 | 3,362,376,337.26 |
| Revolvingmaterial | 2,967,788.47 | 1,689,782.52 | 1,278,005.95 | 2,935,812.93 | 1,685,748.86 | 1,250,064.07 |
| Goodsintransit | 11,313,953.36 | 11,313,953.36 | 12,559,426.44 | 12,559,426.44 | ||
| Lowvalueconsumables-packagingmaterials | 3,610,349.55 | 266,242.87 | 3,344,106.68 | 6,824,189.94 | 32,513.03 | 6,791,676.91 |
| Workinprocess-outsourced | 5,438,894.64 | 5,438,363.67 | 530.97 | 5,438,363.67 | 5,438,363.67 | |
| Total | 3,863,160,080.54 | 143,902,579.76 | 3,719,257,500.78 | 3,567,711,415.79 | 109,267,426.75 | 3,458,443,989.04 |
(2)Dataresourcedefinedasinventory
InRMB
| Item | Outsourceddataresourceinventory | Self-processeddataresourceinventory | Inventoryofdataresourcedacquiredbyothermanners | Total |
(3)Inventoriesfallprovisionorimpairmentprovisionofcontractperformancecosts
InRMB
| Item | Beginningbalance | Currentamountincreased | Currentamountdecreased | Endingbalance | ||
| Accrual | Other | Reversalorwrite-off | Other | |||
| Rawmaterials | 15,039,481.32 | 99,052.06 | 20,935.37 | 15,117,598.01 | ||
| Finishedgoods | 87,071,319.87 | 79,587,092.88 | 45,267,820.06 | 121,390,592.69 | ||
| Revolvingmaterial | 1,685,748.86 | 7,955.76 | 3,922.10 | 1,689,782.52 | ||
| Lowvalueconsumables-packagingmaterials | 32,513.03 | 233,743.58 | 13.74 | 266,242.87 | ||
| Workinprocess-outsourced | 5,438,363.67 | 5,438,363.67 | ||||
| Total | 109,267,426.75 | 79,927,844.28 | 45,292,691.27 | 143,902,579.76 |
Inventoriesfallprovisionaccruedintermsofportfolio
InRMB
| Portfolioname | Ending | Opening | ||||
| Endingbalance | Inventoriesfallprovision | Accrualratioofinventoriesfallprovision | Beginningbalance | Inventoriesfallprovision | Accrualratioofinventoriesfallprovision | |
Standardforinventoriesfallprovisionaccruedintermsofportfolio
(4)Explanationofthecapitalizedamountofborrowingcostsincludedintheendingbalanceofinventory
(5)Explanationonthecurrentamortizationamountofcontractperformancecosts
11.Assetsheldforsale
InRMB
| Item | Endingbookbalance | Impairmentprovision | Endingbookvalue | Fairvalue | Estimateddisposalcost | Estimateddisposaltime |
Otherexplanation:
12.Non-currentassetduewithinoneyear
InRMB
| Item | Endingbalance | Beginningbalance |
(1)Creditors’investmentmaturingwithinoneyear
□Applicable?Notapplicable
(2)Othercreditors’investmentmaturingwithinoneyear
□Applicable?Notapplicable
13.Othercurrentassets
InRMB
| Item | Endingbalance | Beginningbalance |
| Inputtaxtobededucted | 57,740,544.05 | 48,868,668.82 |
| Certificateofdeposit | 30,226,849.32 | |
| Gains/lossesfromassetstobedisposed | 1,627,096.85 | 1,623,160.79 |
| Prepaymentoftaxes | 216,137.50 | 25,137,638.10 |
| VATdeductionamount | 186,379.24 | 1,606.45 |
| Total | 59,770,157.64 | 105,857,923.48 |
Otherexplanation:
14.Creditors’investment
(1)Creditors’investment
InRMB
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
Changesofimpairmentprovisionofcreditors’investmentincurrentperiod
InRMB
| Item | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance |
(2)Importantcreditors’investmentatyear-end
Majorcreditors’investment
InRMB
| Item | Endingbalance | Beginningbalance | ||||||||
| Facevalue | Couponrate | Actualrate | Maturitydate | Overdueprincipal | Facevalue | Couponrate | Actualrate | Maturitydate | Overdueprincipal | |
(3)Accrualofimpairmentprovision
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceonJan.1,2024intheperiod |
Classificationbasisandaccrualratioofbaddebtprovisionforeachstage
(4)Debtinvestmentactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajordebtinvestmentchargedoff:
Explanationondebtinvestmentchargedoff:
Changesinbookbalancewithsignificantchangesinthecurrentperiod'sprovisionforlosses
□Applicable?NotapplicableOtherexplanation:
15.Othercreditors’investment
(1)Othercreditors’investment
InRMB
| Item | Beginningbalance | Accrualinterest | Interestadjustment | Changeoffairvalueintheperiod | Endingbalance | Cost | Accumulatedchangeoffairvalue | Impairmentprovisionaccumulatedrecognizedinothercomprehensiveincome | Note |
Changesinimpairmentprovisionofotherdebtinvestmentsinthecurrentperiod
InRMB
| Item | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance |
(2)Othermajorcreditors’investmentatyear-end
InRMB
| Othercreditors’item | Endingbalance | Beginningbalance | ||||||||
| Facevalue | Couponrate | Actualrate | Maturitydate | Overdueprincipal | Facevalue | Couponrate | Actualrate | Maturitydate | Overdueprincipal | |
(3)Accrualofimpairmentprovision
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceonJan.1,2024intheperiod |
Classificationbasisandaccruedratioofbaddebtprovisionforeachstage
(4)Otherdebtinvestmentactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajorotherdebtinvestmentchargedoff:
Explanationonotherdebtinvestmentchargedoff:
Changesinbookbalancewithsignificantchangesinthecurrentperiod'sprovisionforlosses
□Applicable?NotapplicableOtherexplanation:
16.Otherequityinstrumentinvestment
InRMB
| Item | Ending | Beginni | Gains | Losses | Accumulated | Accumulated | Dividend | Reasonsfor |
| balance | ngbalance | recognizedinothercomprehensiveincomeforthecurrentperiod | recognizedinothercomprehensiveincomeforthecurrentperiod | gainsrecognizedinothercomprehensiveincomeattheendofthisperiod | lossesrecognizedinothercomprehensiveincomeattheendofthisperiod | incomerecognizedinthisperiod | designatingfairvaluemeasurementwithchangesrecognizedinothercomprehensiveincome |
Otherequityinstrumentinvestmentderecognizedincurrentperiod
InRMB
| Itemname | Accumulatedgainscarriedforwardtoretainedgains | Accumulatedlossescarriedforwardtoretainedgains | Reasonforde-recognition |
Sub-itemdisclosureofcurrentnon-tradingequityinstrumentinvestments
InRMB
| Item | Dividendsincome | Accumulatedgains | Accumulatedlosses | Amountofothercomprehensiveincometransferredtoretainedearnings | Reasonsfordefiningfairvaluemeasurementwithchangesrecognizedinothercomprehensiveincome | Reasonsfortransferringothercomprehensiveincometoretainedearnings |
Otherexplanation:
17.Long-termaccountreceivable
(1)Long-termaccountreceivable
InRMB
| Item | Endingbalance | Beginningbalance | Discountraterange | ||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | ||
(2)Accruedbaddebtprovision
InRMB
| Category | Endingbalance | Beginningbalance | ||||||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
| Amount | Ratio | Amount | Accrualratio | Amount | Ratio | Amount | Accrualratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
Thebaddebtprovisionismadeintermsofthegeneralmodelofexpectedcreditlosses
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | |
| BalanceonJan.1,2024intheperiod |
Classificationbasisandaccrualratioofbaddebtprovisionforeachstage
(3)Baddebtprovisionaccrued,collectedorreversal
InRMB
| Category | Beginningbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Written-off | Other | |||
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtprovision |
Otherexplanation:
(4)Long-termaccountreceivableactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajorlong-termaccountreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationonlong-termaccountreceivablechargedoff:
18.Long-termequipment
InRMB
| Investedentity | Beginningbalance(bookvalue) | Beginningbalanceofimpairmentprovision | Currentchanges(+/-) | Endingbalance(bookvalue) | Endingbalanceofimpairmentprovision | |||||||
| Additionalinvestment | Capitalreduction | Investmentgainsrecognizedunderequity | Othercomprehensiveincomeadjustment | Otherequitychange | Cashdividendorprofitannouncedtoissued | Accrualofimpairmentprovision | Other | |||||
| I.Jointventure | ||||||||||||
| II.Associatedenterprise | ||||||||||||
| ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | 1,587,723.81 | -337,578.03 | 1,250,145.78 | |||||||||
| ZhuhaiHengxingFeedIndustrialCo.,Ltd. | 33,653,135.48 | 514,675.01 | 34,167,810.49 | |||||||||
| ShenliangIntelligentWulianEquityInvestmentFund(Shenzhen) | 27,081,889.78 | 188,403.56 | 27,270,293.34 | |||||||||
| PartnershipEnterprise(Limited) | |||||||
| ShenzhenShenyuanDataTech.Co.,Ltd | 11,686,177.41 | -2,088,015.42 | 9,598,161.99 | ||||
| ShenbaoLiaoyuanInvestmentCompany | 57,628.53 | 57,628.53 | |||||
| ShenzhenShenbao(Xinmin)FoodsCo.,Ltd. | 2,870,000.00 | 2,870,000.00 | |||||
| ChangzhouShenbaoChacangE-businessCo.,ltd. | |||||||
| ShenzhenShichumingmenCateringManagementCo.,Ltd. | |||||||
| Subtotal | 74,008,926.48 | 2,927,628.53 | -1,722,514.88 | 72,286,411.60 | 2,927,628.53 | ||
| Total | 74,008,926.48 | 2,927,628.53 | -1,722,514.88 | 72,286,411.60 | 2,927,628.53 |
Therecoverableamountisdeterminedbasedonthenetamountafterdeductingdisposalexpensesfromfairvalue
□Applicable?NotapplicableTherecoverableamountisdeterminedbasedonthepresentvalueofexpectedfuturecashflows
□Applicable?NotapplicableReasonsforsignificantdiscrepanciesbetweentheaforementionedinformationandtheinformationorexternalinformationusedinpreviousyears'impairmenttestingReasonsforsignificantdiscrepanciesbetweentheinformationusedinthecompany'spreviousannualimpairmenttestsandtheactualsituationofthecurrentyearOtherexplanation:
19.Othernon-currentfinancialassets
InRMB
| Item | Endingbalance | Beginningbalance |
| Equityinstrumentinvestment | 57,500.00 | 57,500.00 |
| Total | 57,500.00 | 57,500.00 |
Otherexplanation:
20.Investmentrealestate
(1)Measuredbycost?Applicable□Notapplicable
InRMB
| Item | Houseandbuilding | Landuseright | Constructioninprogress | Total |
| I.Originalbookvalue |
| 1.Beginningbalance | 614,752,374.09 | 614,752,374.09 | |
| 2.Currentamountincreased | |||
| (1)Outsourcing | |||
| (2)Inventory\fixedassets\constructioninprocesstransfer-in | |||
| (3)Increasedbycombination |
3.Currentamountdecreased
| 3.Currentamountdecreased | 70,520.63 | 70,520.63 | |
| (1)Disposal | |||
| (2)Othertransfer-out | 70,520.63 | 70,520.63 |
4.Endingbalance
| 4.Endingbalance | 614,681,853.46 | 614,681,853.46 | |
| II.Accumulateddepreciationandaccumulatedamortization | |||
| 1.Beginningbalance | 351,155,342.20 | 351,155,342.20 | |
| 2.Currentamountincreased | 8,004,805.63 | 8,004,805.63 | |
| (1)Accrualoramortization | 8,004,805.63 | 8,004,805.63 |
3.Currentamountdecreased
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Othertransfer-out |
4.Endingbalance
| 4.Endingbalance | 359,160,147.83 | 359,160,147.83 | |
| III.Impairmentprovision | |||
| 1.Beginningbalance | |||
| 2.Currentamountincreased | |||
| (1)Accrual |
3.Currentamountdecreased
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Othertransfer-out |
4.Endingbalance
| 4.Endingbalance | |||
| IV.Bookvalue | |||
| 1.Endingbookvalue | 255,521,705.63 | 255,521,705.63 | |
| 2.Openingbookvalue | 263,597,031.89 | 263,597,031.89 |
Therecoverableamountisdeterminedbasedonthenetamountafterdeductingdisposalexpensesfromfairvalue
□Applicable?NotapplicableTherecoverableamountisdeterminedbasedonthepresentvalueofexpectedfuturecashflows
□Applicable?NotapplicableReasonsforsignificantdiscrepanciesbetweentheaforementionedinformationandtheinformationorexternalinformationusedinpreviousyears'impairmenttestingReasonsforsignificantdiscrepanciesbetweentheinformationusedinthecompany'spreviousannualimpairmenttestsandtheactualsituationofthecurrentyearOtherexplanation:
(2)Measuredbyfairvalue
□Applicable?Notapplicable
(3)Convertedtoinvestmentrealestateandmeasureatfairvalue
InRMB
| Item | Accountsbeforeconversion | Amount | Reasonforconversion | Approvalprocedures | Impactongains/losses | Impactonothercomprehensiveincome |
(4)Investmentrealestatewithoutpropertycertificatecompleted
InRMB
| Item | Bookvalue | Reasonfornotobtainingthepropertyrightscertificate |
| 1stfloor,7th-20thfloorofDongguanNo.1GrainandOilHeadquarters | 48,398,153.11 | Thejointinspectionhasnotbeencompletedtemporarily |
| OfficeBuildingRentalHaizhifengPart | 812,981.29 | Remainingissues,currentlybeingfollowedup |
Otherexplanation:
21.Fixedassets
InRMB
| Item | Endingbalance | Beginningbalance |
| Fixedassets | 2,127,010,769.47 | 2,171,962,173.22 |
| Disposaloffixedassets | 7,552.00 | 7,552.00 |
| Total | 2,127,018,321.47 | 2,171,969,725.22 |
(1)Fixedassets
InRMB
| Item | Houseandbuildings | Machineryequipment | Transportequipment | Electronicandotherequipment | Total |
| I.Originalbookvalue: | |||||
| 1.Beginningbalance | 2,030,666,059.42 | 779,559,717.86 | 16,206,810.75 | 104,121,959.64 | 2,930,554,547.67 |
| 2.Currentamountincreased | 998,789.00 | 313,696.30 | 161,000.00 | 1,368,583.13 | 2,842,068.43 |
| (1)Purchase | 255,839.22 | 161,000.00 | 1,116,115.98 | 1,532,955.20 | |
| (2)Constructioninprogresstransfer-in | 998,789.00 | 57,857.08 | 252,467.15 | 1,309,113.23 | |
| (3)Increasedbycombination |
3.Currentamountdecreased
| 3.Currentamountdecreased | 222,989.50 | 277,460.63 | 731,867.59 | 1,232,317.72 | |
| (1)Disposalorscrap | 277,460.63 | 731,867.59 | 1,009,328.22 | ||
| Otherdecrease | 222,989.50 | 222,989.50 | |||
| 4.Ending | 2,031,441,858.92 | 779,595,953.53 | 16,367,810.75 | 104,758,675.18 | 2,932,164,298.38 |
| balance | |||||
| II.Accumulateddepreciation | |||||
| 1.Beginningbalance | 350,849,019.39 | 318,153,516.48 | 13,863,413.36 | 72,903,471.51 | 755,769,420.74 |
| 2.Currentamountincreased | 23,701,120.38 | 17,996,162.91 | 372,346.29 | 5,443,357.93 | 47,512,987.51 |
| (1)Accrual | 23,701,120.38 | 17,996,162.91 | 372,346.29 | 5,443,357.93 | 47,512,987.51 |
3.Currentamountdecreased
| 3.Currentamountdecreased | 267,077.45 | 684,755.60 | 951,833.05 | ||
| (1)Disposalorscrap | 267,077.45 | 684,755.60 | 951,833.05 |
4.Endingbalance
| 4.Endingbalance | 374,550,139.77 | 335,882,601.94 | 14,235,759.65 | 77,662,073.84 | 802,330,575.20 |
| III.Impairmentprovision | |||||
| 1.Beginningbalance | 2,813,063.84 | 9,889.87 | 2,822,953.71 | ||
| 2.Currentamountincreased | |||||
| (1)Accrual |
3.Currentamountdecreased
| 3.Currentamountdecreased |
| (1)Disposalorscrap |
4.Endingbalance
| 4.Endingbalance | 2,813,063.84 | 9,889.87 | 2,822,953.71 | ||
| IV.Bookvalue | |||||
| 1.Endingbookvalue | 1,656,891,719.15 | 440,900,287.75 | 2,132,051.10 | 27,086,711.47 | 2,127,010,769.47 |
| 2.Openingbookvalue | 1,679,817,040.03 | 458,593,137.54 | 2,343,397.39 | 31,208,598.26 | 2,171,962,173.22 |
(2)Temporarilyidlefixedassets
InRMB
| Item | Originalbookvalue | Accumulateddepreciation | Impairmentprovision | Bookvalue | Note |
(3)Fixedassetsleasedoutbyoperation
InRMB
| Item | Endingbookvalue |
(4)Fixassetswithoutpropertycertificationheld
InRMB
| Item | Bookvalue | Reasonsforwithoutthepropertycertification |
| CivilengineeringofCDEwarehouse | 571,246,866.67 | Stillunderprocessing |
| HousingandbuildingsofDongguanIndustrialandTrade | 81,221,407.86 | Underprocessing |
| ShuguangGrainreservewarehouse | 52,405,275.05 | Solvingfirefightingsafetyissues |
| Officebuilding | 13,429,771.63 | Remainingissues,currentlybeing |
| followed | ||
| 1stto3rdfloorsofGrainandOilHeadquarters | 32,341,873.87 | Thejointinspectionhasnotbeencompletedtemporarily |
| Coldstoragehouse | 6,778,090.83 | Solvingfirefightingsafetyissues |
| Foodprocessingproject(A3) | 49,983,933.98 | Handlepropertycertificationafterthecompletionrecordisfinished. |
| Foodprocessingandlogisticsdistributionindustrypark(A2) | 72,687,422.33 | Handlepropertycertificationafterthecompletionrecordisfinished. |
Otherexplanation:
(5)Impairmenttestingoffixedassets
□Applicable?Notapplicable
(6)Disposaloffixedassets
InRMB
| Item | Endingbalance | Beginningbalance |
| Machineryequipment | 7,368.24 | 7,368.24 |
| Electronicequipmentandothers | 183.76 | 183.76 |
| Total | 7,552.00 | 7,552.00 |
Otherexplanation:
22.Constructioninprogress
InRMB
| Item | Endingbalance | Beginningbalance |
| Constructioninprogress | 63,236,301.49 | 51,288,301.16 |
| Total | 63,236,301.49 | 51,288,301.16 |
(1)Constructioninprogress
InRMB
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Dongguangrainstorageandwharfmatchingproject | 37,176,625.83 | 37,176,625.83 | 32,632,618.62 | 32,632,618.62 | ||
| SmallpackagingproductionlineofDongguanIndustrialandTrade | 8,891,368.45 | 8,891,368.45 | 8,880,595.19 | 8,880,595.19 | ||
| CDEstorageofDongguanFoodIndustrialParkandwharfmatingprojects | 6,337,990.40 | 6,337,990.40 | 4,965,118.29 | 4,965,118.29 | ||
| Semiautomated | 1,777,617.73 | 1,777,617.73 | 1,784,995.63 | 1,784,995.63 | ||
| renovationprojectforpowderpackagingproductionline | ||||||
| DeepprocessingofDongguanOil&Food | 513,729.78 | 513,729.78 | 513,729.78 | 513,729.78 | ||
| Other | 13,284,492.68 | 4,745,523.38 | 8,538,969.30 | 7,256,767.03 | 4,745,523.38 | 2,511,243.65 |
| Total | 67,981,824.87 | 4,745,523.38 | 63,236,301.49 | 56,033,824.54 | 4,745,523.38 | 51,288,301.16 |
(2)Changesofmajorconstructioninprogress
InRMB
| Item | Budget | Beginningbalance | Currentamountincreased | Transfer-infixedassets | OtherdecreasedinthePeriod | Endingbalance | Proportionofprojectinvestmentinbudget | Progress | Accumulatedcapitalizationofinterest | Including:amountofcapitalizationofinterestinPeriod | InterestcapitalizationrateinPeriod | Capitalresources |
| Dongguangrainstorageandwharfmatchingproject | 1,242,000,000.00 | 32,632,618.62 | 6,140,492.42 | 675,693.13 | 920,792.08 | 37,176,625.83 | 89.02% | 89.02% | 37,344,112.39 | 122,117.23 | 2.30% | Loansfromfinancialinstitution |
| CDEstorageofDongguanFoodIndustrialParkandwharfmatingprojects | 1,087,300,000.00 | 4,965,118.29 | 1,372,872.11 | 6,337,990.40 | 98.92% | 98.92% | 86,730,568.74 | Loansfromfinancialinstitution | ||||
| Total | 2,329,300,000.00 | 37,597,736.91 | 7,513,364.53 | 675,693.13 | 920,792.08 | 43,514,616.23 | 124,074,681.13 | 122,117.23 | 2.30% |
(3)Provisionforimpairmentofconstructioninprogress
InRMB
| Item | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance | Reasonforaccrual |
Otherexplanation:
(4)Impairmenttestingofconstructioninprogress
□Applicable?Notapplicable
(5)Engineeringmaterial
InRMB
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
Otherexplanation:
23.Productivebiologicalasset
(1)Measuredatcost?Applicable□Notapplicable
InRMB
| Item | Plant | Livestock | Forestry | Fisheries | Total |
I.Originalbookvalue
| I.Originalbookvalue | |||
| 1.Beginningbalance | 416,771.28 | 416,771.28 | |
| 2.Currentamountincreased | |||
| (1)Outsourcing | |||
| (2)Self-cultivate |
3.Currentamountdecreased
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Other |
4.Endingbalance
| 4.Endingbalance | 416,771.28 | 416,771.28 | |
| II.Accumulateddepreciation | |||
| 1.Beginningbalance | 58,154.28 | 58,154.28 | |
| 2.Currentamountincreased | 4,846.20 | 4,846.20 | |
| (1)Accrual | 4,846.20 | 4,846.20 |
3.Currentamountdecreased
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Other |
4.Endingbalance
| 4.Endingbalance | 63,000.48 | 63,000.48 | |
| III.Impairmentprovision | |||
| 1.Beginningbalance | |||
| 2.Currentamountincreased | |||
| (1)Accrual |
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Other |
4.Endingbalance
| 4.Endingbalance | |||
| IV.Bookvalue | |||
| 1.Endingbookvalue | 353,770.80 | 353,770.80 | |
| 2.Openingbookvalue | 358,617.00 | 358,617.00 |
(2)Impairmenttestingofproductivebiologicalassetmeasuredatcostmodel
□Applicable?Notapplicable
(3)Measuredatfairvalue
□Applicable?Notapplicable
24.Oilandgasasset
□Applicable?Notapplicable
25.Right-of-useasset
(1)Right-of-useassets
InRMB
| Item | Houseandbuilding | Landuserights | Total |
| I.Originalbookvalue | |||
| 1.Beginningbalance | 110,474,798.90 | 1,823,669.22 | 112,298,468.12 |
| 2.Currentamountincreased | 47,977.64 | 1,052,300.17 | 1,100,277.81 |
| (1)Lease | 47,977.64 | 1,052,300.17 | 1,100,277.81 |
| 3.Currentamountdecreased | 509,804.61 | 509,804.61 | |
| (1)Disposal | 509,804.61 | 509,804.61 | |
| 4.Endingbalance | 110,012,971.93 | 2,875,969.39 | 112,888,941.32 |
| II.Accumulateddepreciation | |||
| 1.Beginningbalance | 54,661,515.02 | 703,804.94 | 55,365,319.96 |
| 2.Currentamountincreased | 11,200,944.27 | 146,776.36 | 11,347,720.63 |
| (1)Accrual | 11,200,944.27 | 146,776.36 | 11,347,720.63 |
3.Currentamountdecreased
| 3.Currentamountdecreased | 509,804.61 | 509,804.61 | |
| (1)Disposal | 509,804.61 | 509,804.61 |
4.Endingbalance
| 4.Endingbalance | 65,352,654.68 | 850,581.30 | 66,203,235.98 |
| III.Impairmentprovision | |||
| 1.Beginningbalance | |||
| 2.Currentamountincreased |
(1)Accrual
3.Currentamountdecreased
| 3.Currentamountdecreased |
| (1)Disposal |
4.Endingbalance
| 4.Endingbalance | |||
| IV.Bookvalue | |||
| 1.Endingbookvalue | 44,660,317.25 | 2,025,388.09 | 46,685,705.34 |
| 2.Openingbookvalue | 55,813,283.88 | 1,119,864.28 | 56,933,148.16 |
(2)Impairmenttestingofright-of-useassets
□Applicable?NotapplicableOtherexplanation:
26.Intangibleassets
(1)Intangibleassets
InRMB
| Item | Landuseright | Patent | Non-patenttechnology | Trademarkrights | Softwareusagerights | Forestuserights | Shopuserights | Other | Total |
| I.Originalbookvalue | |||||||||
| 1.Beginningbalance | 588,167,285.96 | 50,643,906.30 | 4,434,008.99 | 84,174,914.95 | 22,859,104.98 | 25,243,910.01 | 450,000.00 | 775,973,131.19 | |
| 2.Currentamountincreased | 2,096,568.36 | 1,426,250.59 | 3,522,818.95 | ||||||
| (1)Purchase | |||||||||
| (2)InternalR&D | |||||||||
| (3)Increasedbycombination | |||||||||
| (4)Otherincrease | 2,096,568.36 | 1,426,250.59 | 3,522,818.95 | ||||||
| 3.Currentamountdecreased | |||||||||
| (1)Disposal |
4.Endingbalance
| 4.Endingbalance | 590,263,854.32 | 50,643,906.30 | 4,434,008.99 | 85,601,165.54 | 22,859,104.98 | 25,243,910.01 | 450,000.00 | 779,495,950.14 | |
| II.Accumulateddepreciation | |||||||||
| 1.Beginni | 132,264,46 | 29,910,16 | 1,382,270 | 35,863,22 | 8,490,309. | 16,146,35 | 37,500. | 224,094,29 |
| ngbalance | 4.12 | 4.33 | .98 | 9.42 | 42 | 4.16 | 00 | 2.43 | |
| 2.Currentamountincreased | 8,068,195.74 | 564,251.04 | 1,125.06 | 6,192,415.37 | 386,431.80 | 1,760,048.59 | 152,018.16 | 17,124,485.76 | |
| (1)Accrual | 7,393,596.00 | 564,251.04 | 1,125.06 | 6,192,415.37 | 386,431.80 | 1,760,048.59 | 152,018.16 | 16,449,886.02 | |
| (2)Otherincrease | 674,599.74 | 674,599.74 | |||||||
| 3.Currentamountdecreased | |||||||||
| (1)Disposal |
4.Endingbalance
| 4.Endingbalance | 140,332,659.86 | 30,474,415.37 | 1,383,396.04 | 42,055,644.79 | 8,876,741.22 | 17,906,402.75 | 189,518.16 | 241,218,778.19 | |
| III.Impairmentprovision | |||||||||
| 1.Beginningbalance | 5,553,283.54 | 5,553,283.54 | |||||||
| 2.Currentamountincreased | |||||||||
| (1)Accrual |
3.Currentamountdecreased
| 3.Currentamountdecreased | 1,130,341.88 | 1,130,341.88 | ||
| (1)Disposal | 1,130,341.88 | 1,130,341.88 |
4.Endingbalance
| 4.Endingbalance | 5,553,283.54 | 5,553,283.54 | |||||||
| IV.Bookvalue | |||||||||
| 1.Endingbookvalue | 449,931,194.46 | 14,616,207.39 | 3,050,612.95 | 43,545,520.75 | 13,982,363.76 | 7,337,507.26 | 260,481.84 | 532,723,888.41 | |
| 2.Openingbookvalue | 455,902,821.84 | 15,180,458.43 | 3,051,738.01 | 48,311,685.53 | 14,368,795.56 | 9,097,555.85 | 412,500.00 | 546,325,555.22 |
TheratiooftheintangibleassetsfrominternalR&Dinbalanceofintangibleassetsatperiod-end
（2）Dataresourcedefinedasintangibleasset
InRMB
| Item | Outsourceddataresourcedefinedasintangibleasset | Selfdevelopeddataresourcedefinedasintangibleasset | Dataresourceacquiredbyothermannersanddefinedasintangibleasset | Total |
(3)Landuserightswithoutcertificateofownership
InRMB
| Item | Bookvalue | Reasonsforwithoutthepropertycertification |
| Landuseright | 7,849,990.00 | Stillinprogress |
Otherexplanation:
(4)Impairmenttestingofintangibleassets
□Applicable?Notapplicable
27.Goodwill
(1)Originalbookvalueofgoodwill
InRMB
| Theinvestedentityormattersforminggoodwill | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance | ||
| Formedbybusinesscombination | Disposal | |||||
| Pu’erTeaTradingCenterCo.,Ltd. | 673,940.32 | 673,940.32 | 0.00 | |||
| Total | 673,940.32 | 673,940.32 | 0.00 | |||
(2)Impairmentprovisionofgoodwill
InRMB
| Theinvestedentityormattersforminggoodwill | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance | ||
| Accrual | Dispose | |||||
| Pu’erTeaTradingCenterCo.,Ltd. | 673,940.32 | 673,940.32 | 0.00 | |||
| Total | 673,940.32 | 673,940.32 | 0.00 | |||
(3)Relatedinformationofassetgrouporassetgroupportfoliowheregoodwillisincluded
| Name | Componentandbasisofassetgrouporassetgroupportfolio | Operationsegmentandbasis | Consistentwithpreviousyears(Y/N)? |
Changesinassetgrouporassetgroupportfolio
| Name | Componentbeforechange | Componentafterchange | Objectivefactandbasisleadingtochange |
Otherexplanation
(4)SpecificmethodofdeterminingtherecoverableamountTherecoverableamountisdeterminedbasedonthenetamountafterdeductingdisposalexpensesfromfairvalue?Applicable?NotapplicableTherecoverableamountisdeterminedbasedonthepresentvalueofexpectedfuturecashflows
□Applicable?NotapplicableReasonsforsignificantdiscrepanciesbetweentheaforementionedinformationandtheinformationorexternalinformationusedinpreviousyears'impairmenttestingReasonsforsignificantdiscrepanciesbetweentheinformationusedinthecompany'spreviousannualimpairmenttestsandtheactualsituationofthecurrentyear
(5)Completionofperformancecommitmentsandcorrespondingimpairmentofgoodwill
Thereisaperformancecommitmentwhengoodwillisformedandthereportingperiodorthepreviousperiodiswithintheperformancecommitmentperiod
□Applicable?NotapplicableOtherexplanation:
28.Long-termexpensestobeapportioned
InRMB
| Item | Beginningbalance | Currentincrease | Currentamortization | Otherdecrease | Endingbalance |
| Improvementexpenditureforfixassets | 8,544,999.35 | 769,310.52 | 1,527,385.72 | 7,786,924.15 | |
| Decorationfee | 12,416,843.39 | 189,100.92 | 1,514,088.64 | 11,091,855.67 | |
| Other | 3,732,475.31 | 1,800.00 | 907,721.77 | 2,826,553.54 | |
| Total | 24,694,318.05 | 960,211.44 | 3,949,196.13 | 21,705,333.36 |
Otherexplanation:
29.Deferredincometaxasset/Deferredincometaxliabilities
(1)Deferredincometaxassetsnotoffset
InRMB
| Item | Endingbalance | Beginningbalance | ||
| Deductibletemporarydifferences | Deferredincometaxasset | Deductibletemporarydifferences | Deferredincometaxasset | |
| Impairmentprovisionforassets | 113,009,858.95 | 26,980,835.06 | 79,024,031.58 | 18,487,424.12 |
| Unrealizedprofitsininternaltransactions | 1,100,509.12 | 3,110,821.11 | 1,173,392.02 | |
| Leaseliabilities | 49,915,088.62 | 7,918,282.23 | 60,423,752.25 | 9,667,435.83 |
| Creditimpairmentloss | 152,883,164.37 | 32,494,107.43 | 131,582,333.01 | 32,508,076.97 |
| Total | 315,808,111.94 | 68,493,733.84 | 274,140,937.95 | 61,836,328.94 |
(2)Deferredincometaxliabilitynotoffset
InRMB
| Item | Endingbalance | Beginningbalance | ||
| Taxabletemporarydifferences | Deferredincometaxliabilities | Taxabletemporarydifferences | Deferredincometaxliabilities | |
| Assetevaluationincrementofenterprisecombineunderdifferentcontrol | 42,808,100.18 | 10,702,025.14 | 43,635,535.04 | 10,908,883.86 |
| Right-of-useasset | 46,643,210.86 | 7,442,880.12 | 56,763,213.31 | 9,108,070.16 |
| Total | 89,451,311.04 | 18,144,905.26 | 100,398,748.35 | 20,016,954.02 |
(3)Deferredincometaxassetsanddeferredincometaxliabilitieslistedafteroff-set
InRMB
| Item | Trade-offbetweenthedeferredincometaxassetsandliabilities | Endingbalanceofdeferredincometaxassetsorliabilitiesafteroff-set | Trade-offbetweenthedeferredincometaxassetsandliabilitiesatperiod-begin | Beginningbalanceofdeferredincometaxassetsorliabilitiesafteroff-set |
| Deferredincometaxassets | 7,387,240.97 | 61,106,492.88 | 9,079,033.56 | 52,757,295.38 |
| Deferredincometaxliabilities | 7,387,240.97 | 10,757,664.29 | 9,079,033.56 | 10,937,920.46 |
(4)Detailsofuncertaindeferredincometaxassets
InRMB
| Item | Endingbalance | Beginningbalance |
| Deductibletemporarydifferences | 52,351,780.41 | 73,593,637.62 |
| Deductibleloss | 241,656,255.35 | 222,144,931.91 |
| Total | 294,008,035.76 | 295,738,569.53 |
(5)Deductiblelossesofde-recognizeddeferredincometaxassetsexpiringinfollowingyears
InRMB
| Year | Endingbalance | Beginningbalance | Note |
| 2024 | 15,666,222.02 | 16,724,256.16 | |
| 2025 | 59,602,123.69 | 57,064,985.83 | |
| 2026 | 27,763,001.98 | 19,372,001.00 | |
| 2027 | 41,648,013.62 | 30,608,347.99 | |
| 2028 | 49,846,595.37 | 72,586,319.51 | |
| 2029 | 47,130,298.67 | 6,398,410.06 | |
| 2030 | 1,592,707.06 | ||
| 2031 | 11,566,491.62 | ||
| 2032 | 6,231,412.68 | ||
| Total | 241,656,255.35 | 222,144,931.91 |
Otherexplanation:
30.Othernon-currentasset
InRMB
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Prepaidforsystem | 4,122,158.72 | 4,122,158.72 | 3,774,032.76 | 3,774,032.76 | ||
| Propertytoberelocated | 3,523,917.24 | 3,523,917.24 | 3,523,917.24 | 3,523,917.24 | ||
| Total | 7,646,075.96 | 7,646,075.96 | 7,297,950.00 | 7,297,950.00 | ||
Otherexplanation:
31.Theassetsrightsrestrictedtillendoftheperiod
InRMB
| Item | Ending | Beginning | ||||||
| Bookbalance | Bookvalue | Restrictiontype | Restrictionstatus | Bookbalance | Bookvalue | Restrictiontype | Restrictionstatus | |
| Monetaryfund | 7,723,129.00 | 7,723,129.00 | Guaranteedeposit,creditdeposit,lawsuitfreezing,etc. | 5,464,837.31 | 5,464,837.31 | Guaranteedeposit,creditdeposit.etc | ||
| Total | 7,723,129.00 | 7,723,129.00 | 5,464,837.31 | 5,464,837.31 | ||||
Otherexplanation:
32.Short-termloans
(1)Bycategory
InRMB
| Item | Endingbalance | Beginningbalance |
| Pledgeloan | 0.00 | 0.00 |
| Mortgageloan | 0.00 | 0.00 |
| Guaranteedloan | 0.00 | 0.00 |
| Creditloan | 1,471,993,682.19 | 1,223,462,519.16 |
| Total | 1,471,993,682.19 | 1,223,462,519.16 |
Explanationoncategoryofshort-termloans:
(2)Overdueandunpaidshort-termloans
Theoverdueandunpaidshort-termloanswas0.00yuanatperiod-end,includingfollowmajoramount:
InRMB
| Borrower | Endingbalance | Loanrate | Overduetime | Overdueinterest |
Otherexplanation:
33.Tradablefinancialliability
| Item | Endingbalance | Beginningbalance |
| Tradablefinancialliability | 0.00 | 0.00 |
| Including: | ||
| Including: |
Otherexplanation:
34.Derivativefinancialliability
InRMB
| Item | Endingbalance | Beginningbalance |
Otherexplanation:
35.Notepayable
InRMB
| Category | Endingbalance | Beginningbalance |
Notesexpiringatyear-endnotrepaidwas0.00yuan.
36.Accountpayable
(1)Accountpayable
InRMB
| Item | Endingbalance | Beginningbalance |
| Tradeaccountspayable | 210,088,964.42 | 157,073,307.00 |
| Accountpayableforengineering | 139,630,497.66 | 176,815,688.99 |
| Other | 3,658,351.90 | 2,276,200.81 |
| Total | 353,377,813.98 | 336,165,196.80 |
(2)Majoraccountspayablewithageoveroneyear
InRMB
| Item | Endingbalance | Reasonfornotrepayingorcarry-over |
Otherexplanation:
37.Otheraccountpayable
InRMB
| Item | Endingbalance | Beginningbalance |
| Dividendpayable | 2,933,690.04 | 2,933,690.04 |
| Otheraccountpayable | 266,623,779.54 | 274,753,900.79 |
| Total | 269,557,469.58 | 277,687,590.83 |
(1)Interestpayable
InRMB
| Item | Endingbalance | Beginningbalance |
Importantoverdueandunpaidinterestsituation:
InRMB
| Borrower | Overdueamount | Overduereason |
Otherexplanation:
(2)Dividendpayable
InRMB
| Item | Endingbalance | Beginningbalance |
| ShenzhenInvestmentManagementCompany | 2,690,970.14 | 2,690,970.14 |
| Untrustedshares | 242,719.90 | 242,719.90 |
| Total | 2,933,690.04 | 2,933,690.04 |
Otherexplanations,includingimportantdividendspayablethathavenotbeenpaidformorethanoneyear,shoulddisclosethereasonsfornonpayment:
(3)Otheraccountpayable
1)Bynature
InRMB
| Item | Endingbalance | Beginningbalance |
| Accountsreceivableandotherexpenses | 192,157,117.01 | 212,017,192.04 |
| Depositandmargin | 65,846,543.10 | 59,175,450.98 |
| Engineeringqualityassurancedepositandfinalpayment | 1,555,264.94 | 2,697,829.08 |
| Accruedexpenses | 7,064,854.49 | 863,428.69 |
| Total | 266,623,779.54 | 274,753,900.79 |
2)Significantotheraccountpayablewithover1yearagingoroverduesignificantotheraccountpayable
InRMB
| Item | Endingbalance | Reasonfornotrepayingorcarry-over |
Otherexplanation:
38.Accountsreceivedinadvance
(1)Accountsreceivedinadvance
InRMB
| Item | Endingbalance | Beginningbalance |
| Leasepaymentreceivedinadvance | 491,132.97 | 3,654.89 |
| Other | 1,012,264.58 | 1,081,046.71 |
| Total | 1,503,397.55 | 1,084,701.60 |
(2)Significantaccountsreceivedinadvancewithover1yearagingoroverduesignificantaccountsreceivedinadvance
InRMB
| Item | Endingbalance | Reasonfornotrepayingorcarry-over |
InRMB
| Item | Changeinamount | Reasonforchange |
Otherexplanation:
39.Contractualliabilities
InRMB
| Item | Endingbalance | Beginningbalance |
| Salesprice | 93,304,109.71 | 86,566,253.73 |
| Total | 93,304,109.71 | 86,566,253.73 |
Significantcontractualliabilitieswithagingover1year
InRMB
| Item | Endingbalance | Reasonfornotrepayingorcarry-over |
Amountandreasonsforimportantchangesinbookvalueintheperiod
InRMB
| Item | Changeinamount | Reasonforchange |
40.Wagepayable
(1)Wagepayable
InRMB
| Item | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance |
| I.Short-termcompensation | 253,139,696.10 | 124,669,697.81 | 180,257,757.01 | 197,551,636.90 |
| II.After-servicewelfare-definedcontributionplans | 12,314,242.50 | 12,644,785.28 | 9,089,823.63 | 15,869,204.15 |
| III.Dismissedwelfare | 760,724.60 | 34,050.00 | 726,674.60 | |
| Total | 266,214,663.20 | 137,314,483.09 | 189,381,630.64 | 214,147,515.65 |
(2)Short-termcompensation
InRMB
| Item | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance |
| 1.Wage,bonus,allowanceandsubsidy | 244,885,071.13 | 102,376,213.20 | 157,627,387.52 | 189,633,896.81 |
| 2.Employees’welfare | 88,864.69 | 5,957,422.47 | 6,024,067.90 | 22,219.26 |
| 3.Socialinsurancecharges | 302,549.13 | 3,442,633.08 | 3,396,412.81 | 348,769.40 |
| Including:medicalinsurancepremium | 272,678.90 | 2,991,348.97 | 2,950,876.30 | 313,151.57 |
| Industrialinjuryinsurancepremiums | 3,329.93 | 199,446.08 | 197,202.54 | 5,573.47 |
| Maternityinsurancepremiums | 26,540.30 | 251,838.03 | 248,333.97 | 30,044.36 |
| 4.Housingpublicreserve | 36,788.20 | 10,811,261.24 | 10,806,449.79 | 41,599.65 |
| 5.Tradeunionfeeandeducationfee | 7,817,422.95 | 2,066,207.82 | 2,378,478.99 | 7,505,151.78 |
| Othershort-termcompensation | 9,000.00 | 15,960.00 | 24,960.00 |
| Total | 253,139,696.10 | 124,669,697.81 | 180,257,757.01 | 197,551,636.90 |
(3)Definedcontributionplans
InRMB
| Item | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance |
| 1.Basicendowmentinsurancepremiums | 27,351.36 | 8,677,843.06 | 8,666,906.92 | 38,287.50 |
| 2.Unemploymentinsurancepremiums | 6,375.81 | 427,933.61 | 422,916.71 | 11,392.71 |
| 3.Enterpriseannuity | 12,280,515.33 | 3,539,008.61 | 15,819,523.94 | |
| Total | 12,314,242.50 | 12,644,785.28 | 9,089,823.63 | 15,869,204.15 |
Otherexplanation:
41.Taxespayable
InRMB
| Item | Endingbalance | Beginningbalance |
| VAT | 3,249,306.63 | 3,929,827.56 |
| Enterpriseincometax | 44,568,724.67 | 78,612,383.92 |
| Personalincometax | 6,120,749.08 | 919,489.66 |
| Urbanmaintenanceandconstructiontax | 125,402.87 | 184,436.23 |
| Propertytax | 5,669,983.27 | 1,402,724.23 |
| Stamptax | 325,474.00 | 924,833.66 |
| Deedtax | 664,227.84 | 664,227.84 |
| Educationalsurtax | 103,869.84 | 253,657.15 |
| Usetaxofland | 821,131.34 | 15,205.45 |
| Other | 2,644.11 | |
| Total | 61,651,513.65 | 86,906,785.70 |
Otherexplanation:
42.Liabilityheldforsale
InRMB
| Item | Endingbalance | Beginningbalance |
| SubsidiaryWuhanJiacheng | 66,579,828.59 | |
| Total | 66,579,828.59 |
Otherexplanation:
43.Non-currentliabilitiesduewithinoneyear
InRMB
| Item | Endingbalance | Beginningbalance |
| Leaseliabilitiesduewithinoneyear | 20,693,439.58 | 22,805,473.76 |
| Total | 20,693,439.58 | 22,805,473.76 |
Otherexplanation:
44.Othercurrentliabilities
InRMB
| Item | Endingbalance | Beginningbalance |
| Deferredoutputtax | 4,029,143.68 | 3,896,108.63 |
| Other | 31.93 | |
| Total | 4,029,143.68 | 3,896,140.56 |
Changesofshort-termbondspayable:
InRMB
| Bonds | Facevalue | Issuancedate | Bondsterm | Amountissued | Beginningbalance | Issuedintheperiod | Accrualinterestbyfacevalue | Premiumanddiscountamortization | Paidintheperiod | Endingbalance | Breachcontractornot(Y/N)? |
Total
| Total | -- | -- | -- |
Otherexplanation:
45.Long-termloan
(1)Categoryoflong-termloan
InRMB
| Item | Endingbalance | Beginningbalance |
Explanationoncategoryoflong-termloans:
Otherexplanation,includinginterestraterange:
46.Bondspayable
(1)Bondspayable
InRMB
| Item | Endingbalance | Beginningbalance |
(2)Changesofbondspayable(notincludingotherfinancialinstrumentofpreferredstockandperpetualcapitalsecuritiesthatareclassifiedasfinancialliability)
InRMB
| Bonds | Facevalue | Issuancedate | Bondsterm | Amountissued | Beginningbalance | Issuedintheperiod | Accrualinterestbyfacevalue | Premiumanddiscountamortization | Paidintheperiod | Endingbalance | Breachcontractornot(Y/N)? |
Total
| Total | -- |
(3)Convertibleconditionsandtimeforsharestransferfortheconvertiblebonds
(4)OtherfinancialinstrumentsclassifiedasfinancialliabilityBasicinformationoftheoutstandingpreferredstockandperpetualcapitalsecuritiesatperiod-endChangesofoutstandingpreferredstockandperpetualcapitalsecuritiesatperiod-end
InRMB
| Outstandingfinancialinstrument | Period-beginning | Currentincrease | Currentdecrease | Period-end | ||||
| Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | |
ExplanationonthebasisforclassifyingotherfinancialinstrumentintofinancialliabilityOtherexplanation
47.Leaseliability
InRMB
| Item | Endingbalance | Beginningbalance |
| Leasepayments | 52,900,980.20 | 64,121,413.50 |
| Unrecognizedfinancingcharges | -2,941,437.13 | -3,570,988.00 |
| Minus:leaseliabilitiesduewithinoneyear | -20,693,439.58 | -22,805,473.76 |
| Total | 29,266,103.49 | 37,744,951.74 |
Otherexplanation:
48.Long-termaccountpayable
InRMB
| Item | Endingbalance | Beginningbalance |
| Specialaccountpayable | 18,183,091.89 | 17,994,633.05 |
| Total | 18,183,091.89 | 17,994,633.05 |
(1)Bynature
InRMB
| Item | Endingbalance | Beginningbalance |
Otherexplanation:
(2)Specialaccountpayable
InRMB
| Item | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance | Causes |
| Depreciationfundsforfixedassetsofgovernmentreservegraindepots | 16,214,402.96 | 103,611.34 | 16,318,014.30 | ||
| Specialfundingforresearchinthegrainpublicwelfareindustry | 207,477.09 | 207,477.09 | |||
| ShenzhenHospitalPhaseIIIHousingExpropriationPropertyRightsExchange | 1,529,253.00 | 138,381.00 | 17,033.50 | 1,650,600.50 | |
| Grainandoilmarketmonitoring | 3,500.00 | 3,500.00 | 7,000.00 |
| andearlywarningsubsidy | ||||
| Specialfundsfortheconstructionandmaintenanceofthegrainemergencysystem | 40,000.00 | 40,000.00 | ||
| Total | 17,994,633.05 | 245,492.34 | 57,033.50 | 18,183,091.89 |
Otherexplanation:
49.Long-termwagepayable
(1)Long-termwagepayable
InRMB
| Item | Endingbalance | Beginningbalance |
(2)Changesofdefinedbenefitplans
Presentvalueofthedefinedbenefitplans:
InRMB
| Item | CurrentPeriod | LastPeriod |
Schemeassets:
InRMB
| Item | CurrentPeriod | LastPeriod |
Netliability(assets)ofthedefinedbenefitplans
InRMB
| Item | CurrentPeriod | LastPeriod |
Contentofdefinedbenefitplansandrelevantrisks,impactonfuturecashflowoftheCompanyaswellastimesanduncertainty:
Majoractuarialassumptionandsensitivityanalysis:
Otherexplanation:
50.Accrualliabilities
InRMB
| Item | Endingbalance | Beginningbalance | Causes |
Otherexplanation,includingrelevantimportantassumptionsandestimation:
51.Deferredincome
InRMB
| Item | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance | Causes |
| Governmentgrant | 82,819,873.24 | 4,057,114.25 | 3,982,362.15 | 82,894,625.34 | Asset-relatedgovernmentgrant |
| Total | 82,819,873.24 | 4,057,114.25 | 3,982,362.15 | 82,894,625.34 |
Otherexplanation:
52.Othernon-currentliabilities
InRMB
| Item | Endingbalance | Beginningbalance |
Otherexplanation:
53.Sharecapital
InRMB
| Beginningbalance | Increased(decreased)inthisyear+,- | Endingbalance | |||||
| Newsharesissued | Bonusshares | Sharesconvertedfrompublicreserve | Other | Subtotal | |||
| Totalshares | 1,152,535,254.00 | 1,152,535,254.00 | |||||
Otherexplanation:
54.Otherequityinstrument
(1)Basicinformationoftheoutstandingpreferredstockandperpetualcapitalsecuritiesatperiod-end
(2)Changesofoutstandingpreferredstockandperpetualcapitalsecuritiesatperiod-end
InRMB
| Outstandingfinancialinstrument | Period-beginning | Currentincrease | Currentdecrease | Period-end | ||||
| Quantity | Bookvalue | Quantity | Bookvalue | Quantity | Bookvalue | Quantity | Bookvalue | |
Explanationonchangesinotherequityinstrument,reasonsforchangesandrelevantaccountingtreatmentbasis:
Otherexplanation:
55.Capitalreserve
InRMB
| Item | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance |
| Capitalpremium(Sharecapitalpremium) | 1,251,860,732.56 | 1,251,860,732.56 | ||
| Othercapitalreserve | 8,896,381.86 | 8,896,381.86 | ||
| Total | 1,260,757,114.42 | 1,260,757,114.42 |
Otherexplanation,includingchangesinthecurrentperiod,reasonsforchanges:
56.Treasurystock
InRMB
| Item | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance |
| Total | 0.00 | 0.00 |
Otherexplanation,includingchangesandreasonforchanges:
57.Othercomprehensiveincome
InRMB
| Item | Beginningbalance | Currentperiod | Endingbalance | |||||
| Amountbeforeincometaxintheperiod | Less:writteninothercomprehensiveincomeinpreviousperiodandcarriedforwardtocurrentgains/losses | Less:writteninothercomprehensiveincomeinpreviousperiodandcarriedforwardtoretainedearningsincurrentperiod | Less:incometaxexpense | Attributabletoparentcompanyaftertax | Attributabletominorityshareholdersaftertax | |||
| Totalofothercomprehensiveincome | 0.00 | 0.00 | ||||||
Otherexplanation,includingtheactivepartofthehedginggains/lossesofcashflowtransfertoinitialreorganizationadjustmentforthearbitrageditems:
58.Reasonablereserve
InRMB
| Item | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance |
| Worksafetyfee | 741,968.19 | 836,287.66 | 481,774.25 | 1,096,481.60 |
| Total | 741,968.19 | 836,287.66 | 481,774.25 | 1,096,481.60 |
Otherexplanation,includingchangesincurrentperiodandreasonforchanges:
59.Surpluspublicreserve
InRMB
| Item | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance |
| Statutorysurplusreserves | 483,103,366.38 | 483,103,366.38 | ||
| Total | 483,103,366.38 | 483,103,366.38 |
Otherexplanation,includingchangesincurrentperiodandreasonsforchanges:
60.Retainedprofit
InRMB
| Item | Currentperiod | Lastperiod |
| Retainedprofitattheendofthepreviousyearbeforeadjustment | 1,927,314,400.85 | 1,910,954,084.79 |
| Totaladjustmentamountofretainedprofitatthebeginningoftheyear(adjustmentincrease+/adjustmentdecrease-) | 0.00 | 148,597.59 |
| Retainedprofitatthebeginningoftheyearafteradjustment | 1,927,314,400.85 | 1,911,102,682.38 |
| Add:netprofitattributabletoshareholderofparentcompany | 129,030,850.78 | 347,824,733.68 |
| Less:withdrawaloflegalsurplusreserve | 43,479,201.71 | |
| Commonstockdividendspayable | 230,507,050.80 | 288,133,813.50 |
| Retainedprofitatperiod-end | 1,825,838,200.83 | 1,927,314,400.85 |
Detailsaboutadjustingtheretainedprofitsatthebeginningoftheperiod:
1)DuetotheretroactiveadjustmentstoAccountingStandardsforBusinessEnterprisesanditsrelevantnewregulations,theretainedprofitatthebeginningoftheperiodwasaffectedby0.00yuan.
2)Duetochangesinaccountingpolicies,theretainedprofitatthebeginningoftheperiodwasaffectedby0.00yuan.
3)Duetomajoraccountingerrorcorrection,theretainedprofitatthebeginningoftheperiodwasaffectedby0.00yuan
4)Duetochangesinmergescopecausedbythesamecontrol,theretainedprofitsatthebeginningoftheperiodwasaffectedby
0.00yuan.
5)Duetootheradjustments,theretainedprofitsatthebeginningoftheperiodwasaffectedby0.00yuan.
61.Operatingincomeandoperatingcost
InRMB
| Item | Currentperiod | Lastperiod | ||
| Income | Cost | Income | Cost | |
| Mainbusiness | 2,415,839,496.41 | 1,985,218,970.39 | 2,831,155,949.83 | 2,356,767,116.63 |
| Otherbusiness | 613,423.20 | 206,792.93 | 840,851.99 | 671,590.94 |
| Total | 2,416,452,919.61 | 1,985,425,763.32 | 2,831,996,801.82 | 2,357,438,707.57 |
Breakdownofoperatingincomeandoperatingcost:
InRMB
| Category | Branch1 | Branch2 | Total | |||||
| Operatingincome | Operatingcost | Operatingincome | Operatingcost | Operatingincome | Operatingcost | Operatingincome | Operatingcost | |
| Businesstypes | ||||||||
| Including: | ||||||||
Classificationbybusinessarea
| Classificationbybusinessarea |
| Including: |
Marketorcustomertype
| Marketorcustomertype |
| Including: |
Contracttypes
| Contracttypes |
| Including: |
Classificationbytimeofgoodstransfer
| Classificationbytimeofgoodstransfer |
| Including: |
Classificationbycontractduration
| Classificationbycontractduration |
| Including: |
Classificationbysaleschannel
| Classificationbysaleschannel |
| Including: |
Total
Informationrelatingtoperformanceobligations:
| Item | Timeforperformanceobligations | Importantpaymentterms | Natureofthegoodspromisedtotransferbythecompany | Isitthemainresponsibleperson? | Theexpectedrefundstocustomersbornebythecompany | Thetypesofqualityassuranceprovidedbythecompanyandrelatedobligations |
OtherexplanationsInformationrelatedtothetransactionpriceallocatedtotheremainingperformanceobligations:
Attheendofthisreportingperiod,thecontracthasbeensigned,butthecorrespondingincomeforperformanceobligationswhicharenotyetfulfilledorunfinishedamountedto93,304,109.71yuan.Thewholeamount,93,304,109.71yuan,isexpectedtoberecognizedwithinoneyear.Informationrelatedtovariableconsiderationinthecontract:
Significantcontractchangesorsignificanttransactionpriceadjustments
InRMB
| Item | Accountingtreatmentmethod | Impactonincome |
Otherexplanation:
62.Taxandsurcharge
InRMB
| Item | Currentperiod | Lastperiod |
| Urbanmaintenanceandconstructiontax | 732,943.30 | 707,839.53 |
| Educationsurcharge | 447,916.95 | 514,033.21 |
| Propertytax | 5,647,115.56 | 5,465,817.42 |
| Usetaxofland | 995,148.54 | 1,057,091.18 |
| Vehicleandvesselusetax | 12,197.60 | 8,618.40 |
| Stampduty | 702,590.30 | 1,041,352.09 |
| Other | 131,522.81 | 23,851.07 |
| Resourcetax | 12,486.15 | |
| Total | 8,669,435.06 | 8,831,089.05 |
Otherexplanation:
63.Administrationexpenses
InRMB
| Item | Currentperiod | Lastperiod |
| Laborandsocialsecuritybenefits | 56,814,032.17 | 68,054,624.17 |
| Depreciationandamortizationoflong-termassets | 22,875,890.10 | 21,180,508.17 |
| Officeexpenses | 2,648,095.32 | 3,240,787.25 |
| Intermediaryagencyfee | 2,189,633.97 | 2,520,013.55 |
| Travellingexpense | 724,417.01 | 926,931.47 |
| Communicationexpense | 760,746.70 | 743,873.40 |
| Vehicleusagefee | 562,013.08 | 531,242.62 |
| Businesshospitality | 299,069.79 | 441,096.09 |
| Rental | 133,328.88 | 100,321.82 |
| Repaircost | 312,129.52 | 211,610.40 |
| Low-valueconsumable | 3,924.22 | 25,815.93 |
| Other | 7,403,442.99 | 6,680,190.17 |
| Total | 94,726,723.75 | 104,657,015.04 |
Otherexplanation:
64.Salesexpense
InRMB
| Item | Currentperiod | Lastperiod |
| Laborandsocialsecuritybenefits | 46,005,597.00 | 46,585,880.47 |
| Depreciationandamortizationoflong-termassets | 7,978,358.27 | 7,597,306.09 |
| Utilitiesandofficeexpenses | 5,154,390.85 | 4,317,153.38 |
| Salesservicefee | 6,029,769.66 | 3,981,193.46 |
| Storageandloading/unloadingfees | 4,783.47 | 4,495,439.50 |
| Portterminalfees | 715,427.02 | 6,403,280.39 |
| Travelexpenses | 1,111,459.18 | 1,272,102.59 |
| Businesshospitality | 517,485.12 | 870,284.53 |
| Rental | 292,107.15 | 122,357.08 |
| Advertisingexpenses | 820,363.78 | 151,566.61 |
| Propertyinsurancepremium | 840,821.33 | 315,312.65 |
| Lowvalueconsumablesandotherlossexpenses | 1,961,226.16 | -1,471,258.29 |
| Logisticsandtransportationcosts | 344,270.20 | 200,017.78 |
| Vehicleusagefee | 86,253.99 | 161,425.43 |
| Other | 1,598,513.78 | 6,079,182.41 |
| Total | 73,460,826.96 | 81,081,244.08 |
Otherexplanation:
65.R&Dexpenses
InRMB
| Item | Currentperiod | Lastperiod |
| Laborandsocialsecuritybenefits | 5,116,627.53 | 5,658,800.71 |
| Depreciationcost | 1,573,235.55 | 1,459,851.71 |
| Materialconsumption | 1,699,485.02 | 1,079,631.78 |
| Travelexpense | 349,424.09 | 368,211.91 |
| Maintenanceandinspectionfee | 250,655.39 | 33,552.42 |
| Officeexpense | 83,555.14 | 336,015.10 |
| Intermediaryfees | 31,654.72 | 56,115.10 |
| Other | 708,633.77 | 440,566.51 |
| Total | 9,813,271.21 | 9,432,745.24 |
Otherexplanation:
66.Financialexpense
InRMB
| Item | Currentperiod | Lastperiod |
| Interestexpenses | 17,092,597.32 | 20,495,411.83 |
| Less:Interestincome | 952,349.13 | 315,939.31 |
| Exchangegainsorloss | 183,430.87 | 253,349.64 |
| Handlingfeeandothers | 446,174.46 | 375,293.18 |
| Total | 16,769,853.52 | 20,808,115.34 |
Otherexplanation:
67.Otherincome
InRMB
| Sources | Currentperiod | Lastperiod |
| Governmentgrant | 5,540,994.27 | 4,215,117.48 |
| Inputtaxdeduction | 897,627.62 | 1,189,220.31 |
| Handlingfeesforwithholdingpersonalincometax | 448,072.44 | 383,734.35 |
| Directreductionofvalue-addedtax | 346.53 | 0.00 |
| Other | 1,509,124.92 | 0.00 |
68.Netexposurehedgegains
InRMB
| Item | Currentperiod | Lastperiod |
Otherexplanation:
69.Incomeoffairvaluechanges
InRMB
| Sources | Currentperiod | Lastperiod |
| Tradablefinancialassets | -113,524.84 | |
| Tradablefinancialliabilities | 288,486.18 | |
| Total | 174,961.34 |
Otherexplanation:
70.Investmentincome
InRMB
| Item | Currentperiod | Lastperiod |
| Long-termequityinvestmentincomemeasuredbyequity | -1,722,514.88 | -705,464.09 |
| Investmentincomefromdisposaloflong-termequityinvestment | 1,156,849.46 | |
| Financingproducts | 3,933,789.27 | 3,107,648.76 |
| Total | 3,368,123.85 | 2,402,184.67 |
Otherexplanation:
71.Creditimpairmentloss
InRMB
| Item | Currentperiod | Lastperiod |
| Lossofbaddebtofaccountreceivable | -53,879.90 | 56,679.59 |
| Lossofbaddebtofotheraccountreceivable | -15,853.59 | 613,567.64 |
| Total | -69,733.49 | 670,247.23 |
Otherexplanation:
72.Assetimpairmentloss
InRMB
| Item | Currentperiod | Lastperiod |
| I.Inventorydepreciationandcontractperformancecostimpairmentloss | -79,774,391.84 | -46,633,952.80 |
| Total | -79,774,391.84 | -46,633,952.80 |
Otherexplanation:
73.Incomefromassetsdisposal
InRMB
| Sources | Currentperiod | Lastperiod |
| Gains/lossesfromdisposalofnon-currentassets | 5,219,432.33 | 1,587,775.37 |
74.Non-operationincome
InRMB
| Item | Currentperiod | Lastperiod | Amountincludedinthecurrentnon-recurringgains/losses |
| Liquidateddamagescompensationincome | 8,536.00 | 191,240.00 | 8,536.00 |
| Nopaymentrequired | 1,000.00 | 1,000.00 | |
| Gainsfromdamageandscrappingofnon-currentassets | 784.47 | 784.47 | |
| Gainsfrominventorysurplus | 0.00 | 0.00 | |
| Governmentrelocationsubsidy | 0.00 | 0.00 | |
| Other | 61,826.18 | 147,404.53 | 61,826.18 |
| Total | 72,146.65 | 338,644.53 | 72,146.65 |
Otherexplanation:
75.Non-operatingexpenditure
InRMB
| Item | Currentperiod | Lastperiod | Amountincludedincurrentnon-recurringgainsandlosses |
| Externaldonations | 21,613.38 | 21,613.38 | |
| Penaltyexpenses(andliquidateddamages) | 3,632.69 | 3,632.69 | |
| Lossofscrapfromnon-currentassets | 24,793.40 | 40,437.67 | 24,793.40 |
| Compensation | 160,000.00 | 160,000.00 | |
| Other | 20,505.01 | 154,778.82 | 20,505.01 |
| Total | 230,544.48 | 195,216.49 | 230,544.48 |
Otherexplanation:
76.Incometaxexpense
(1)Incometaxexpense
InRMB
| Item | Currentperiod | Lastperiod |
| Currentincometaxexpenses | 42,734,278.54 | 12,023,380.41 |
| Deferredincometaxexpenses | -8,529,453.68 | -139,471.71 |
| Other | 34,334,038.75 | |
| Total | 34,204,824.86 | 46,217,947.45 |
(2)Adjustmentprocessofaccountingprofitandincometaxexpenses
InRMB
| Item | Currentperiod |
| Totalprofit | 164,568,244.59 |
| Incometaxexpensescalculatedbystatutory/applicabletaxrate | 41,142,061.15 |
| Impactfromdifferenttaxrateapplicablewithsubsidiaries | -1,379,087.66 |
| Effectofadjustingincometaxinthepreviousperiod | -249,965.30 |
| Impactofcost,expensesandlossesunabletobededucted | 35,844,629.16 |
| Impactofunrecognizeddeferredincometaxassetsincurrentperiodondeductibletemporarydifferencesordeductiblelosses | 34,616,976.53 |
| Gains/lossesofjointventuresandassociatedenterprisesmeasuredwithequitymethod | 344,625.76 |
| Non-taxableincome(filledinwiththesignof“-”) | -68,038,250.15 |
| Taxinfluenceofutilizingunconfirmeddeductiblelossesanddeductibletemporarydifferencesfrompreviousyears(filledinwiththesignof“-”) | -5,893,814.53 |
| TaxinfluenceofadditionaldeductionofR&Dexpenditure(filledinwiththesignof“-”) | -528,943.57 |
| Other | -1,653,406.53 |
| Incometaxexpenses | 34,204,824.86 |
Otherexplanation:
77.Othercomprehensiveincome
Refertonotes.
78.Itemsofcashflowstatement
(1)Cashreceivedwithotheroperatingactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Intercoursefundsanddeposit | 1,281,111,970.63 | 333,482,963.88 |
| Governmentgrants | 1,561,534.17 | 1,828,301.20 |
| Interestincome | 611,096.36 | 315,939.31 |
| Other | 4,916,809.72 | |
| Total | 1,288,201,410.88 | 335,627,204.39 |
Noteofcashpaidwithotheroperatingactivitiesconcerned:
Cashpaidwithotheroperatingactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Intercoursefundsanddeposit | 1,067,273,655.24 | 403,829,430.09 |
| Operatingdailyexpenses | 43,636,917.27 | 37,196,560.20 |
| Other | 5,735,732.19 | 2,062,442.54 |
| Total | 1,116,646,304.70 | 443,088,432.83 |
Noteofcashpaidwithotheroperatingactivitiesconcerned:
(2)Cashwithotherinvestmentactivitiesconcerned
Cashreceivedwithotherinvestmentactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
Significantcashreceivedwithotherinvestmentactivitiesconcerned:
InRMB
| Item | Currentperiod | Lastperiod |
Explanationoncashreceivedwithotherinvestmentactivitiesconcerned：
Cashpaidwithotherinvestmentactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Other | 3,784,107.76 | |
| Total | 3,784,107.76 |
Significantcashpaidwithinvestmentactivities
InRMB
| Item | Currentperiod | Lastperiod |
Cashpaidwithotheroperatingactivitiesconcerned
(3)Cashwithfinancingactivitiesconcerned
Cashreceivedwithfinancingactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
Explanationoncashreceivedwithotherfinancingactivitiesconcerned:
Cashpaidwithotherfinancingactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Operatingleasepaid | 12,238,276.69 | 9,650,074.57 |
| Total | 12,238,276.69 | 9,650,074.57 |
Explanationoncashpaidwithotherfinancingactivitiesconcerned:
Changesinliabilitiesarisingfromfinancingactivities?Applicable?Notapplicable
(4)Cashflowlistedatnetamount
| Item | Relevantfacts | Basisforbeinglistedatnetamount | Financialimpact |
(5)Significantactivitiesandfinancialimpactsthatdonotinvolvecurrentcashinflowandoutflowbutaffectthefinancialconditionoftheenterpriseormayaffectthecashflowoftheenterpriseinthefuture
79.Supplementaryinformationofcashflowstatement
(1)Supplementaryinformationofcashflowstatement
InRMB
| Supplementaryinformation | Currentamount | Lastamount |
| 1.Netprofitadjustedtocashflowofoperationactivities: | ||
| Netprofit | 130,363,419.73 | 167,662,654.04 |
| Add:Impairmentprovisionforassets | 79,844,125.33 | 45,963,705.57 |
| Depreciationoffixedassets,consumptionofoilassetsanddepreciationofproductivebiologyassets | 55,522,639.34 | 56,724,826.02 |
| Depreciationofright-of-useassets | 11,347,720.63 | 11,088,321.52 |
| Amortizationofintangibleassets | 17,124,485.76 | 15,448,850.55 |
| Amortizationoflong-termpendingexpenses | 3,949,196.13 | 4,063,437.55 |
| Lossfromdisposaloffixedassets,intangibleassetsandotherlong-termassets(incomeislistedwith“-”) | -5,219,432.33 | -1,587,775.37 |
| Lossesonscrappingoffixedassets(incomeislistedwith“-“) | 24,008.93 | 0.00 |
| Lossfromchangeoffairvalue(incomeislistedwith“-“) | 0.00 | 113,524.84 |
| Financialexpenses(incomeislistedwith“-”) | 17,092,597.32 | 19,324,823.46 |
| Investmentloss(incomeislistedwith“-”) | -3,368,123.85 | -3,107,648.76 |
| Decreaseofdeferredincometaxassets(increaseislistedwith“-”) | -8,349,197.50 | 33,567.33 |
| Increaseofdeferredincometaxasset((increaseislistedwith“-”) | -180,256.17 | -206,859.33 |
| Decreaseofinventory(increaseislistedwith“-”) | -340,587,903.58 | -22,562,750.54 |
| Decreaseofoperatingreceivableaccounts(increaseislistedwith“-”) | -84,838,140.10 | 56,159,006.78 |
| Increaseofoperatingpayableaccounts(decreaseislistedwith“-”) | -31,256,584.05 | -265,614,331.45 |
| Other | ||
| Netcashflowarisingfromoperatingactivities | -158,531,444.41 | 83,503,352.21 |
| 2.Materialinvestmentandfinancingnotinvolvedincashflow | ||
| Conversionofdebtintocapital | ||
| Convertiblecompanybondsduewithinoneyear | ||
| Financingleaseoffixedassets | 1,100,277.81 | |
| 3.Netchangeofcashandcashequivalents: |
| Endingbalanceofcash | 73,865,526.29 | 100,112,129.74 |
| Less:beginningbalanceofcash | 230,919,769.29 | 53,095,469.26 |
| Add:endingbalanceofcashequivalents | 0.00 | |
| Less:beginningbalanceofcashequivalents | 1,469,717.13 | 0.00 |
| Netincreasingofcashandcashequivalents | -158,523,960.13 | 47,016,660.48 |
(2)NetcashpaidforobtainingsubsidiaryinthePeriod
InRMB
| Amount | |
| Including: | |
| Including | |
| Including: |
Otherexplanation:
(3)NetcashreceivedbydisposingsubsidiaryinthePeriod
InRMB
| Amount | |
| Disposalofcashorcashequivalentsreceivedbysubsidiariesinthecurrentperiod | 16,360,810.20 |
| Including: | |
| WuhanJiachengBiologicalProductsCo.,Ltd | 16,360,810.20 |
| Less:Cashandcashequivalentsheldbythecompanyonthedayoflossofcontrol | 3,118,867.58 |
| Including: | |
| WuhanJiachengBiologicalProductsCo.,Ltd | 3,118,867.58 |
| Including: | |
| Netcashreceivedfromdisposalofsubsidiaries | 13,241,942.62 |
Otherexplanation:
(4)Componentofcashandcashequivalent
InRMB
| Item | Endingbalance | Beginningbalance |
| I.Cash | 73,865,526.29 | 230,919,769.29 |
| Including:Cashonhand | 9,350.71 | 10,106.10 |
| Bankdepositavailableforpaymentatanytime | 69,016,494.56 | 230,835,667.22 |
| Othermonetaryfundavailableforpaymentatanytime | 4,839,681.02 | 73,995.97 |
| II.Cashequivalent | 1,469,717.13 | |
| Held-for-saleassets-monetaryfunds | 1,469,717.13 | |
| Other | ||
| III.Endingbalanceofcashandcashequivalent | 73,865,526.29 | 232,389,486.42 |
(5)Itemswithrestrictedapplicationscopestillbelongtocashandcashequivalents
InRMB
| Item | Currentamount | Lastamount | Reasonforstillbelongingtocashandcashequivalents |
(6)Monetaryfundsnotbelongingtocashandcashequivalent
InRMB
| Item | Currentamount | Lastamount | Reasonfornotbelongingtocashandcashequivalents |
| Bankdeposit | 2,973,129.00 | Lawsuitfreezing | |
| Othermonetaryfunds | 4,750,000.00 | 5,464,837.31 | Guaranteedeposit,creditdeposit,etc |
| Total | 7,723,129.00 | 5,464,837.31 |
Otherexplanation:
(7)Explanationonothersignificantactivities
80.Notesofchangesofowners’equity
Explainthenameandadjustedamountin“Other”itemsthathavebeenadjustedtotheendingbalanceofthepreviousyear
81.Foreigncurrencymonetaryitems
(1)Foreigncurrencymonetaryitems
InRMB
| Item | Endingforeigncurrencybalance | Convertrate | EndingRMBbalanceconverted |
| Monetaryfund | 2,841,138.49 | ||
| Including:USD | 47,006.93 | 7.1268 | 335,008.99 |
| EURO | 0.00 | 7.6617 | 0.00 |
| HKD | 184,404.43 | 0.9127 | 168,302.24 |
| Accountreceivable | |||
| Including:USD | 287,049.27 | 7.1268 | 2,045,742.74 |
| EURO | |||
| HKD | 320,029.50 | 0.9127 | 292,084.52 |
| Long-termborrows | |||
| Including:USD | |||
| EURO | |||
| HKD |
Otherexplanation:
(2)Explanationonforeignoperationalentity,includingasforthemajorforeignoperationalentity,disclosedmainoperationplace,book-keepingcurrencyandbasisforselection;ifthebook-keepingcurrencyischanged,explainreasons
□Applicable?Notapplicable
80.Notesofchangesofowners’equityExplainthenameandadjustedamountin“Other”itemsthathavebeenadjustedtotheendingbalanceofthepreviousyear
81.Foreigncurrencymonetaryitems
(1)Foreigncurrencymonetaryitems
InRMB
| Item | Endingforeigncurrencybalance | Convertrate | EndingRMBbalanceconverted |
| Monetaryfund | |||
| Including:USD | 47,006.93 | 7.1268 | 335,008.99 |
| EURO | 0.00 | 7.6617 | 0.00 |
| HKD | 184,404.43 | 0.9127 | 168,302.24 |
| Accountreceivable | |||
| Including:USD | 287,049.27 | 7.1268 | 2,045,742.74 |
| EURO | |||
| HKD | 320,029.50 | 0.91268 | 292,084.52 |
| Long-termborrows | |||
| Including:USD | |||
| EURO | |||
| HKD |
Otherexplanation:
(2)Explanationonforeignoperationalentity,includingasforthemajorforeignoperationalentity,disclosedmainoperationplace,book-keepingcurrencyandbasisforselection;ifthebook-keepingcurrencyischanged,explainreasons
□Applicable?Notapplicable
82.Lease
(1)Thecompanyasleasee?Applicable?Notapplicable
(2)Thecompanyaslessor
Operatingleasewiththecompanyaslessor?Applicable?NotapplicableFinancingleasewiththecompanyaslessor?Applicable?NotapplicableAnnualundiscountedleasepaymentsforthenextfiveyears
□Applicable?NotapplicableAdjustmenttableforundiscountedleasereceiptsandnetleaseinvestments
(3)Recognizegains/lossesfromfinancingleaseasproducerordealer
□Applicable?Notapplicable
83.Dataresource
84.Others
VIII.R&Dexpenditure
InRMB
| Item | Currentperiod | Lastperiod |
| Laborandsocialsecuritybenefits | 4,677,082.95 | 5,098,176.11 |
| Depreciationandamortizationexpenses | 1,622,308.36 | 1,780,607.54 |
| Materialconsumption | 1,648,913.98 | 1,038,146.52 |
| Maintenanceandtestingfees | 445,254.60 | 351,178.38 |
| Travelexpenses | 349,424.09 | 368,175.91 |
| Officeexpenses | 371,605.05 | 337,322.20 |
| Intermediaryfees | 31,654.72 | 56,115.10 |
| Other | 392,222.82 | 31,757.24 |
| Total | 9,538,466.57 | 9,061,479.00 |
| Amongthem:ExpensedR&Dexpenditure | 9,538,466.57 | 9,061,479.00 |
| CapitalizedR&Dexpenses | 0.00 | 0.00 |
1.R&Ditemsthatmeetcapitalizationconditions
InRMB
| Item | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance | ||||
| Internaldevelopmentexpenditure | Other | Recognizedasintangibleassets | Carriedforwardtocurrentgains/losses | |||||
| Total | ||||||||
MajorcapitalizedR&Ditems
| Items | R&Dprogress | Estimatedcompletiontime | Expectedwayofgeneratingeconomicbenefits | Startingpointofcapitalization | Specificbasisforstartingcapitalization |
ImpairmentreserveforR&Dexpenditure
InRMB
| Item | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance | Impairmenttest |
2.Importantoutsourcedprojectsunderresearch
| Item | Expectedwayofgeneratingeconomicbenefits | Thecriteriaandspecificbasisfordeterminingcapitalizationorexpensing |
Otherexplanation:
IX.Changesinconsolidationrange
1.Enterprisemergernotunderthesamecontrol
(1)Enterprisemergernotunderthesamecontrol
InRMB
| Acquiree | Timepointforequityobtained | Costofequityobtained | Ratioofequityobtained | AcquiredwayEquityobtainedway | Purchasingdate | Standardtodeterminethepurchasingdate | Incomeofacquireefrompurchasingdatetoperiod-end | Netprofitofacquireefrompurchasingdatetoperiod-end |
Otherexplanation:
(2)Combinationcostandgoodwill
InRMB
| Consolidationcost |
| --Cash |
| --Fairvalueofnon-cashassets |
| --Fairvalueofdebtsissuedorassumed |
| --Fairvalueofequitysecuritiesissued |
| --Fairvalueofcontingentconsideration |
| --Fairvalueoftheequitypriortothepurchasingdate |
| --Other |
| Totalcombinationcost |
| Less:sharesoffairvalueofidentifiablenetassetsacquired |
| Portionofgoodwill/mergercostlessthanthesharesoffairvalueofidentifiablenetassetsacquired |
ExplanationofthemethodfordeterminingthefairvalueofmergercostsExplanationoncontingentconsiderationsMainreasonsfortheformationoflargegoodwillOtherexplanation:
(3)Identifiableassetsandliabilitiesonpurchasingdateundertheacquiree
InRMB
| Fairvalueonpurchasingdate | Bookvalueonpurchasingdate | |
| Assets: | ||
| Monetaryfunds | ||
| Accountreceivable | ||
| Inventory | ||
| Fixedassets | ||
| Intangibleassets | ||
| Liability: | ||
| Loan | ||
| Accountpayable | ||
| Deferredincometaxliabilities | ||
| Netassets | ||
| Less:Minorityinterests | ||
| Netassetsacquired |
Determinationmethodforfairvalueoftheidentifiableassetsandliabilities:
Contingentliabilitiesassumedbytheacquireeinabusinessmerger:
Otherexplanation:
(4)Gainsorlossesarisingfromre-measuredbyfairvaluefortheequityheldbeforepurchasingdateIsthereanytransactionthatachievesbusinessmergerthroughmultipletransactionsandobtainscontrolduringthereportingperiod?
□Yes?No
(5)Onpurchasingdateorperiod-endofthecombination,combinationconsiderationorfairvalueofidentifiableassetsandliabilityfortheacquireeareunabletoconfirmrationally
(6)Otherexplanation
2.Businesscombinationunderthesamecontrol
(1)BusinesscombinationunderthesamecontrolinthePeriod
InRMB
| Acquiree | Equityratioobtainedincombination | Basisofcombinedunderthesamecontrol | Combinationdate | Standardtodeterminethecombinationdate | Incomeofthecombinedpartyfromperiod-beginofcombinationtothecombinationdate | Netprofitofthecombinedpartyfromperiod-beginofcombinationtothecombinationdate | Incomeofthecombinedpartyduringthecomparisonperiod | Netprofitofthecombinedpartyduringthecomparisonperiod |
Otherexplanation:
(2)Combinationcost
InRMB
| Consolidationcost |
| --Cash |
| --Bookvalueofnon-cashassets |
| --Bookvalueofdebtsissuedorassumed |
| --Facevalueofequitysecuritiesissued |
| --Contingentconsideration |
Explanationoncontingentconsiderationanditschanges:
Otherexplanation:
(3)Bookvalueoftheassetsandliabilitiesofthecombinedpartyoncombinationdate
InRMB
| Consolidationdate | Endingbalanceoflastperiod | |
| Assets: | ||
| Monetaryfunds | ||
| Accountreceivable |
| Inventory |
| Fixedassets |
| Intangibleassets |
| Liability: |
| Loan |
| Accountpayable |
| Netassets |
| Less:Minorityinterests |
| Netassetsacquired |
ContingentliabilityofthecombinedpartyassumedbytheCompanyduringcombination:
Otherexplanation:
3.Reversepurchase
Basictransactioninformation,basisofcounterpurchase,whethermakingupbusinessduetotheassetsandliabilityreservedbylistedcompanyandbasis,determinationofcombinationcost,amountandcalculationonadjustedequitybyequitytransaction:
4.Disposalofsubsidiary
Isthereanytransactionoreventoflosingcontrolofasubsidiaryinthisperiod??Yes?No
InRMB
| Nameofsubsidiary | Disposalpriceatthepointoflossofcontrol | Proportionofdisposalatthepointoflossofcontrol | Disposalmanneratthepointoflossofcontrol | Thepointoflosingcontrol | Basisfordeterminingthepointoflosingcontrol | Thedifferencebetweenthedisposalpriceandtheshareofthesubsidiary'snetassetsintheconsolidatedfinancialstatementscorrespondingtothedisposalinvestment | Theproportionofremainingequityonthedateoflossofcontrol | Onthedateoflossofcontrol,thebookvalueoftheremainingequityattheconsolidatedfinancialstatementlevel | Fairvalueofremainingequityattheconsolidatedfinancialstatementlevelonthedateoflossofcontrol | Gainsorlossesarisingfromremeasurementofremainingequityatfairvalue | Methodandmainassumptionsfordeterminingthefairvalueofremainingequityattheconsolidatedfinancialstatementlevelonthedateoflossofcontrol | Theamountofothercomprehensiveincomerelatedtoequityinvestmentsinsubsidiarycompaniestransferredtoinvestmentprofitorlossorretainedearnings |
| Wuhan | 23,242 | 51.00 | Sale | 2024- | Transf | 1,156, |
| JiachengBiologicalProductsCo.,Ltd | ,130.20 | % | 02-29 | erofcontrolright | 849.46 |
Otherexplanation:
Isthereanysituationwhereinvestmentsinsubsidiariesaredisposedbystepsthroughmultipletransactionsandcontrolislostinthecurrentperiod?
□Yes?No
5.Otherreasonsforchangesinconsolidationrange
Consolidationscopechangescausedbyotherreasons(eg.establishnewsubsidiaries,liquidatesubsidiaries,etc.)andtherelatedcircumstances:
6.Other
X.Equityinotherentities
1.Equityinsubsidiaries
(1)Membershipofenterprisegroup
| Subsidiary | Registeredcapital | Mainplaceofoperation | Registrationplace | Businessnature | Shareholdingratioratio | Acquisitionway | |
| Directly | Indirectly | ||||||
| SZCG | 1,530,000,000.00 | ShenzhenCity | ShenzhenCity | Grain&oiltrading | 100.00% | Combineunderthesamecontrol | |
| HualianGrain&Oil | 100,000,000.00 | ShenzhenCity | ShenzhenCity | Grain&oiltrading | 100.00% | Combineunderthesamecontrol | |
| ShenzhenFlour | 30,000,000.00 | ShenzhenCity | ShenzhenCity | Flourprocessing | 100.00% | Combineunderthesamecontrol | |
| ShenliangQualityInspection | 8,000,000.00 | ShenzhenCity | ShenzhenCity | Inspection | 100.00% | Combineunderthesamecontrol | |
| HainanGrainandOil | 10,000,000.00 | HaikouCity | HaikouCity | Feedproduction | 100.00% | Combineunderthesamecontrol | |
| Doximi | 10,000,000.00 | ShenzhenCity | ShenzhenCity | E-commerce | 100.00% | Combineunderthesamecontrol | |
| BigKitchen | 10,000,000.00 | ShenzhenCity | ShenzhenCity | Salesandprocessingofgrain,oilandrelevantproducts | 70.00% | Combineunderthesamecontrol | |
| YingkouStorage | 1,000,000.00 | YingkouCity | YingkouCity | Storage | 100.00% | Combineunderthesamecontrol | |
| ColdChainLogistic | 10,000,000.00 | ShenzhenCity | ShenzhenCity | On-lineoperationoffreshfood | 100.00% | Combineunderthesamecontrol | |
| ShenliangProperty | 9,500,000.00 | ShenzhenCity | ShenzhenCity | Propertydevelopmentandmanagement | 100.00% | Combineunderthesame | |
| control | |||||||
| InternationalFood | 221,000,000.00 | DongguanCity | DongguanCity | Portoperation,foodproduction | 100.00% | Combineunderthesamecontrol | |
| DongguanGrainandOil | 100,000,000.00 | DongguanCity | DongguanCity | Foodproduction | 100.00% | Combineunderthesamecontrol | |
| DongguanLogistics | 298,000,000.00 | DongguanCity | DongguanCity | Storage,logistics | 49.00% | 51.00% | Combineunderthesamecontrol |
| Shuangyashan | 100,000,000.00 | ShuangyashanCity | ShuangyashanCity | Constructionoffoodbaseanddevelopmentofrelatedcomplementaryfacilities | 51.00% | Combineunderthesamecontrol | |
| ShenliangHongjun | 30,000,000.00 | ShenzhenCity | ShenzhenCity | Catering | 51.00% | Establishment | |
| DongguanHualian | 10,000,000.00 | DongguanCity | DongguanCity | Grainandoiltrade | 100.00% | Establishment | |
| ShenliangPropertyManagement | 5,000,000.00 | ShenzhenCity | ShenzhenCity | Propertymanagement | 100.00% | Establishment | |
| ShenbaoHuacheng | 207,451,300.00 | ShenzhenCity | ShenzhenCity | Manufacturing | 100.00% | Establishment | |
| WuyuanJuFangYong | 290,000,000.00 | ShangraoCity | ShangraoCity | Manufacturing | 100.00% | Establishment | |
| HuizhouShenbao | 60,000,000.00 | HuizhouCity | HuizhouCity | Comprehensive | 100.00% | Establishment | |
| ShenbaoInvestment | 50,000,000.00 | ShenzhenCity | ShenzhenCity | Investmentmanagement | 100.00% | Establishment | |
| ShenbaoTeaCulture | 15,000,000.00 | ShenzhenCity | ShenzhenCity | Commercialtrade | 100.00% | Establishment | |
| ShenliangHongli | 50,000,000.00 | ShenzhenCity | ShenzhenCity | Gainandoilwholesale | 100.00% | Establishment | |
| JuFangYongHolding | 175,000,000.00 | HangzhouCity | HangzhouCity | Comprehensive | 100.00% | Establishment | |
| FuhaitangCatering | 1,000,000.00 | HangzhouCity | HangzhouCity | Cateringindustry | 100.00% | Establishment | |
| FuhaitangEcologyTechnology | 2,000,000.00 | HangzhouCity | HangzhouCity | Teaplanting,productionandsales | 100.00% | Businesscombinationnotunderthesamecontrol | |
| ShenbaoRockTea | 20,700,000.00 | WuyishanCity | WuyishanCity | Manufacturing | 100.00% | Establishment | |
| Pu’erTeaSupplyChain | 20,000,000.00 | Pu’erCity | Pu’erCity | Wholesalebusiness | 100.00% | Establishment | |
| ShenliangFood | 30,150,000.00 | HuizhouCity | ShenzhenCity | Manufacturing | 100.00% | Establishment | |
| HuizhouShenliangFood | 5,000,000.00 | HuizhouCity | HuizhouCity | Wholesalebusiness | 100.00% | Establishment | |
| ZhenpinMarket | 10,000,000.00 | ShenzhenCity | ShenzhenCity | Platformconstruction,promotion,andoperation | 51.00% | Establishment |
Explanationonshareholdingratioratioinsubsidiarydifferentfromratioofvotingright:
Explanationonbasisforcontrollingtheinvestedentitywithhalforbelowvotingrightsheldandwithoutcontrollinginvestedentitybutwithoverhalfandovervotingrights:
Explanationonthebasisforcontroltheimportantstructuredentitiesincludedintheconsolidationscope:
Basisfordeterminingwhetherthecompanyisanagentorconsignor:
Otherexplanation:
(2)Importantnon-wholly-ownedsubsidiary
InRMB
| Subsidiary | shareholdingratioratioofminorityshareholders | Gains/lossesattributabletominorityinthePeriod | DividendannouncedtodistributeforminorityinthePeriod | Endingequityofminority |
| Shuangyashan | 49.00% | 81,812.58 | 29,188,287.66 |
Explanationonthesituationwheretheshareholdingratioofminorityshareholdersisdifferentfromthevotingrightratioofminorityshareholders:
Otherexplanation:
(3)Mainfinancialinformationoftheimportantnon-wholly-ownedsubsidiary
InRMB
| Subsidiary | Endingbalance | Beginningbalance | ||||||||||
| Currentassets | Noncurrentassets | Totalassets | Currentliabilities | Noncurrentliabilities | Totalliabilities | Currentassets | Noncurrentassets | Totalassets | Currentliabilities | Noncurrentliabilities | Totalliabilities | |
| Shuangyshan | 18,012,706.98 | 148,736,670.63 | 166,749,377.61 | 107,181,443.61 | 107,181,443.61 | 85,781,145.45 | 152,130,471.73 | 237,911,617.18 | 178,510,647.62 | 178,510,647.62 | ||
InRMB
| Subsidiary | CurrentPeriod | LastPeriod | ||||||
| Operatingincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperationactivity | Operatingincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperationactivity | |
| Shuangyashan | 70,843,760.11 | 166,964.44 | 166,964.44 | 2,080,725.70 | 33,838,129.44 | 191,507.02 | 191,507.02 | 2,197,667.83 |
Otherexplanation:
(4)Significantrestrictionsontheuseofenterprisegroupassetsandtherepaymentofdebtsoftheenterprisegroup
(5)FinancialorothersupportofferedtothestructuredentitiesincludedinconsolidatedfinancialstatementsOtherexplanation:
2.Transactionswheretheshareofowner’sequityinasubsidiarychangeswhilethesubsidiaryisstillcontrolled
(1)Explanationonchangesinowner’sequitysharesinsubsidiary
(2)Impactofsuchtransactiononequityofminorityinterestsandowners’equityattributabletoparentcompany
InRMB
| Purchasecost/disposalconsideration |
| --Cash |
--Fairvalueofnon-cashassetsPurchasecost/totaldisposalconsideration
| Purchasecost/totaldisposalconsideration |
| Less:Subsidiary’sshareofnetassetscalculatedbasedontheproportionofacquired/disposedequity |
| Difference |
| Including:Adjustcapitalreserve |
| Adjustsurplusreserve |
| Adjustretainedprofit |
Otherexplanation
3.Equityinjointventureandassociatedenterprise
(1)Importantjointventureorassociatedenterprise
| Jointventure/Associatedenterprise | Mainplaceofoperation | Registrationplace | Businessnature | Shareholdingratio | Accountingtreatmentoninvestmentinjointventureandassociatedenterprise | |
| Directly | Indirectly | |||||
| ZhuhaiHengxingFeedIndustrialCo.,Ltd. | Zhuhai | Zhuhai | Aquaticfeeandanimalfee | 40.00% | Equitymethod | |
| ShenliangIntelligentWulianEquityInvestmentFund(Shenzhen)PartnershipEnterprise(Limited) | Shenzhen | Shenzhen | Equityinvestment;investmentconsultant | 49.02% | Equitymethod | |
Descriptiononsituationwheretheshareholdingratioinjointventuresorassociatedenterprisesisdifferentfromtheratioofvotingrights:
Descriptiononthebasisforholdinglessthan20%ofvotingrightsbuthavingsignificantinfluence,orholding20%ormoreofvotingrightsbuthavingnosignificantinfluence.
(2)Mainfinancialinformationofimportantjointventure
InRMB
| Endingbalance/Currentperiod | Beginningbalance/Lastperiod |
Currentassets
| Currentassets |
| Including:cashandcashequivalent |
| Non-currentassets |
| Totalassets |
| Currentliabilities |
| Non-currentliabilities |
| Totalliabilities |
| Minorityinterests |
| Shareholders’equityattributabletoparentcompany |
| Shareofnetassets |
| calculatedbyshareholdingratio |
| Adjustmentitems |
| --Goodwill |
| --Unrealizedprofitofinternaltrading |
| --Other |
| Bookvalueofequityinvestmentinjointventure |
| Fairvalueoftheequityinvestmentinjointventureswithpublicoffersconcerned |
| Operatingincome |
| Financialexpenses |
| Incometaxexpenses |
| Netprofit |
| Netprofitofdiscontinuingoperation |
| Othercomprehensiveincome |
| Totalcomprehensiveincome |
Dividendsreceivedfromjointventureintheyear
Otherexplanation
(3)Mainfinancialinformationofimportantassociatedenterprises
InRMB
DividendsreceivedfromjointventureintheyearEndingbalance/Currentperiod
| Endingbalance/Currentperiod | Beginningbalance/Lastperiod | |||
| ZhuhaiHengxingFeedIndustrialCo.,Ltd. | ShenliangIntelligentWulianEquityInvestmentFund(Shenzhen)PartnershipEnterprise(Limited) | ZhuhaiHengxingFeedIndustrialCo.,Ltd. | ShenliangIntelligentWulianEquityInvestmentFund(Shenzhen)PartnershipEnterprise(Limited) | |
| Currentassets | 258,912,540.40 | 20,641,526.55 | 206,533,219.54 | 20,506,045.15 |
| Non-currentassets | 20,917,350.71 | 35,159,782.75 | 22,214,230.53 | 34,910,923.94 |
| Totalassets | 279,829,891.11 | 55,801,309.30 | 228,747,450.07 | 55,416,969.09 |
| Currentliabilities | 164,910,902.36 | 170,000.00 | 115,358,256.12 | 170,000.00 |
| Non-currentliabilities | 29,017,970.43 | 29,663,266.41 | ||
| Totalliabilities | 193,928,872.79 | 170,000.00 | 145,021,522.53 | 170,000.00 |
| Netasset | 85,901,018.32 | 55,631,309.30 | 83,725,927.54 | 55,246,969.09 |
| Minorityinterests | ||||
| Equityattributabletoshareholderofparentcompany | 85,901,018.32 | 55,631,309.30 | 83,725,927.54 | 55,246,969.09 |
| Shareofnetassetsmeasuredbyshareholding | 34,167,810.49 | 27,270,293.34 | 33,490,371.02 | 27,082,064.25 |
| Adjustment | 162,764.46 | -174.47 | ||
| --Goodwill | ||||
| --Unrealizedprofitofinternaltrading | ||||
| --Other | 162,764.46 | -174.47 | ||
| Bookvalueofequityinvestmentinassociatedenterprise | 34,167,810.49 | 27,270,293.34 | 33,653,135.48 | 27,081,889.78 |
| Fairvalueoftheequityinvestmentofassociatedenterprisewithpublicoffersconcerned | ||||
| Operatingincome | 151,719,295.67 | 267,239,221.76 | ||
| Netprofit | 1,286,687.52 | 384,340.21 | 1,868,302.32 | -403,077.01 |
| Netprofitofdiscontinuingoperation | ||||
| Othercomprehensiveincome | ||||
| Totalcomprehensiveincome | 1,286,687.52 | 384,340.21 | 1,868,302.32 | -403,077.01 |
| Dividendsreceivedfromassociatedenterpriseintheyear |
Otherexplanation
(4)Summaryoffinancialinformationofunimportantjointventureandassociatedenterprises
InRMB
| Endingbalance/CurrentPeriod | Beginningbalance/LastPeriod | |
| Jointventure: | ||
| Amountbasedonshareholdingratioratio | ||
| Associatedenterprise: | ||
| Totalbookvalueofinvestment | 10,848,307.77 | 13,273,901.22 |
| Totalamountcalculatedintermsofshareholdingratioratio | ||
| --Netprofit | -2,425,593.45 | -2,828,725.22 |
| --Othercomprehensiveincome | 0.00 | |
| --Totalcomprehensiveincome | -2,425,593.45 | -2,828,725.22 |
Otherexplanation
(5)MajorlimitationoncapitaltransferabilitytotheCompanyfromjointventureorassociatedenterprise
(6)Excesslossoccurredinjointventureorassociatedenterprise
InRMB
| Jointventure/Associatedenterprise | Cumulativederecognizedlosses | DerecognizedlossesnotrecognizedinthePeriod(ornetprofitenjoyedinthePeriod) | Cumulativederecognizedlossesatperiod-end |
| ChangzhouShenbaoChacangE-businessCo.,ltd. | 10,600,036.50 | -29,640.62 | 10,570,395.88 |
Otherexplanation
(7)Unconfirmedcommitmentrelatedtojointventureinvestment
(8)Intangibleliabilitiesrelatedtojointventureorassociatedenterpriseinvestment
4.Majorjointoperation
| Name | Mainplaceofoperation | Registrationplace | Businessnature | Shareholdingratio/sharesenjoyed | |
| Directly | In-directly | ||||
Explanationonsituationwhereshareholdingratioorsharesenjoyedinjointoperationisdifferentfromvotingrightratioinjointoperation:
Explanationontheclassificationthebasisofjointoperationincasetheentityofjointoperationistheseparateentity:
Otherexplanation
5.Equityinstructuredentitiesnotincludedinthescopeofconsolidatedfinancialstatements
Explanation:
6.OtherXI.Governmentgrant
1.Governmentgrantrecognizedatreportendingintermsofamountreceivable
□Applicable?NotapplicableReasonsfornotreceivingtheexpectedamountofgovernmentgrantsattheexpectedtimepoint
□Applicable?Notapplicable
2.Liabilitiesinvolvedwithgovernmentgrant?Applicable□Notapplicable
InRMB
| Accountingtitle | Beginningbalance | Currentincreaseingovernmentgrant | Amountbookedintonon-businessincomeincurrentperiod | Amountcarriedforwardtootherincome | Otherchangesincurrentperiod | Endingbalance | Asset/incomerelated |
| Deferredincome | 82,819,873.24 | 4,057,114.25 | 3,982,362.15 | 82,894,625.34 | Assetrelated |
3.Governmentgrantbookedintocurrentgains/losses
?Applicable□Notapplicable
InRMB
| Accountingtitle | Currentperiod | Lastperiod |
| Otherrevenue | 5,540,994.27 | 4,215,117.48 |
Otherexplanation:
XII.Riskrelatedwithfinancialinstrument
1.VariousrisksarisingfromfinancialinstrumentsOurbusinessoperationmakestheCompanyexposedtovariousfinancialrisks,suchascreditrisk,liquidityriskandmarketrisk(Includingexchangeraterisk,interestrateriskandotherpricerisk).TheCompanydispersestheriskoffinancialinstrumentsthroughappropriatediversifiedinvestmentandbusinessportfolio,andreducestheriskconcentratingonasingleindustry,specificregionorspecificcounterpartybyformulatingcorrespondingriskmanagementpolicies.
1.CreditriskCreditriskreferstotheriskofafinanciallosscausedbythecounterparty’sfailuretofulfillitscontractualobligations.CreditrisksoftheCompanyarisesmainlyfrommonetaryfunds,notereceivable,accountreceivable,otherreceivable,debtinvestments,financialguaranteecontracts,thedebtinstrumentinvestmentsmeasuredatfairvalueandwithitsvariationreckonedincurrentgain/lossthatarenotincludedinthescopeofimpairmentassessmentandderivativefinancialassets,etc.Asofthebalancesheetdate,thecarryingvalueofthefinancialassetsrepresenteditsmaximumexposuretocreditrisk;MonetaryfundsoftheCompanyaremainlythebankdepositsinreputablestate-ownedbanksandotherlargerandmedium-sizedlistedbankswithhighcreditratings,andthecompanybelievesthatitisnotexposedtosignificantcreditrisksandwillhardlyincursignificantlossesduetothebankdefaults.Furthermore,forbillreceivable,accountreceivablesandotheraccountreceivables,theCompanyestablishesrelevantpoliciestocontrolexposureofcreditrisk.TheCompanyappraisescustomers’creditqualitybasedontheirfinancialposition,possibilitytoobtainguaranteefromthirdparties,credithistoryandotherfactorssuchasprevailingmarketconditions,andsetcorrespondingcreditterms.Customers’credithistorywouldberegularlymonitoredbytheCompany.Forthosecustomerswhohavebadcredithistory,theCompanywillcallcollectioninwrittenform,shortencredittermorcancelcredittermtoensureitsoverallcreditriskisundercontrol.AsofJune30,2024,theaccountreceivablefromtopfiveclientsaccountedfor45.33%oftheCompany’stotalaccountreceivable.Themaximumcreditriskexposureequalstothecarryingvalueofeachfinancialassetinbalancesheet(includingderivativefinancialinstrument).TheCompanyhasnotprovidedanyguaranteewhichwouldotherwisemaketheCompanyexposedtocreditriskexceptforthefinancialguaranteecarriedinNote“XII.Relatedpartyandrelatedtransaction”.
2.LiquidityriskLiquidityriskreferstotheriskthatacompanywillrunshortoffundstomeetitsobligationssettledbydeliveringcashorotherfinancialassets.ItistheCompany’spolicytoensurethatsufficientcashisavailabletomeetdebtobligationsastheyfalldue.LiquidityriskiscentrallycontrolledbytheCompany’sfinancedepartment.Bymonitoringcashbalances,readilyrealizablemarketablesecurities,androllingforecastsofcashflowsforthenext12months,thefinancedepartmentensuresthatthecompanyhassufficientfundstoserviceitsdebtsunderallreasonableforecasts.Inaddition,itcontinuestomonitorwhetherborrowingagreementiscompliedwith,andseeksforcommitmentfrommajorfinancialinstitutionsforprovisionofsufficientback-upfund,soastosatisfycapitalrequirementinashortandlongterm.
Thefinancialliabilitiesofthecompanyarepresentedasundiscountedcontractcashflowsatmaturityasfollows:
3.MarketriskThemarketriskoffinancialinstrumentsreferstotheriskthatthefairvalueorfuturecashflowsoffinancialinstrumentswillfluctuateduetochangesinmarketprices,includingexchangeraterisk,interestrateriskandotherpricerisks.
3.1InterestriskInterestrateriskreferstotheriskthatthefairvalueorfuturecashflowsoffinancialinstrumentswillfluctuateduetochangesinmarketinterestrates.Interest-bearingfinancialinstrumentswithfixedratesandfloatingratesexposetheCompanytofairvalueinterestrateriskandcashflowinterestraterisk,respectively.TheCompanydeterminestheratiooffixedinterestrateinstrumentstofloatinginterestrateinstrumentsaccordingtothemarketenvironment,andmaintainsanappropriateportfoliooffixedandfloatinginterestrateinstrumentsthroughregularreviewandmonitoring.Whennecessary,theCompanywilluseinterestrateswapinstrumentstohedgeinterestraterisk.
3.2ExchangerateriskExchangerateriskistheriskthatthefairvalueorfuturecashflowsofafinancialinstrumentwillfluctuateduetothechangesinforeignexchangerates.TheCompanycontinuouslymonitorstheforeigncurrencytransactionsandthescaleofforeigncurrencyassetsandliabilitiestominimizeforeignexchangerisks.Inaddition,thecompanymayalsosignforwardforeignexchangecontractsorcurrencyswapcontractstoavoidexchangeraterisks.Duringthecurrentperiodandthepreviousperiod,theCompanydidnotsignanyforwardforeignexchangecontractsorcurrencyswapcontracts.
3.3OtherpriceriskOtherpriceriskreferstotheriskthatthefairvalueorfuturecashflowoffinancialinstrumentswillfluctuateduetochangesinmarketpricesotherthanexchangerateriskandinterestraterisk.OtherpriceriskoftheCompanyarisesmainlyfrominvestmentinvarioustypesofequityinstrumentsandisexposedtotherisksofchangesinthepricesofequityinstruments.
2.Hedge
(1)Riskmanagementforhedgebusiness
□Applicable?Notapplicable
(2)Thecompanyconductseligiblehedgingbusinessandapplieshedgingaccounting
InRMB
| Item | Bookvaluerelatedtohedgeditemsandhedginginstruments | Adjustmentofaccumulatedfairvaluehedgingincludedintherecognizedbookvalue | Sourcesofhedgeeffectivenessandhedgeineffectiveness | Impactofhedgeaccountingonthecompany’sfinancialstatements |
| ofhedgeditems | ||
| Typeofhedgerisk | ||
| Typeofhedge | ||
Otherexplanation
(3)Thecompanyconductshedgingbusinessforriskmanagement.Itisexpectedtoachieveriskmanagementgoalsbuthasnotappliedhedgingaccounting
□Applicable?Notapplicable
3.Financialassets
(1)Bytransfermanner?Applicable?Notapplicable
(2)Financialassetsderecognizedduetotransfer?Applicable?Notapplicable
(3)Financialassetswhicharetransferredandinvolvedcontinuously?Applicable?NotapplicableOtherexplanation:NilXIII.Disclosureoffairvalue
1.Endingfairvalueoftheassetsandliabilitiesmeasuredbyfairvalue
InRMB
| Item | Endingfairvalue | |||
| First-order | Second-order | Third-order | Total | |
| I.Sustainingmeasuredbyfairvalue | -- | -- | -- | -- |
| (iii)Otherequityinstrumentinvestment | 57,500.00 | 57,500.00 | ||
| II.Non-sustainingmeasuredbyfairvalue | -- | -- | -- | -- |
2.Recognizedbasisforthemarketpricesustainingandnon-persistentmeasuredbyfairvalueonfirst-order
3.Valuationtechniqueandqualitativeandquantitativeinformationonmajorparametersforthefairvaluemeasuresustainingandnon-persistentonsecond-order
4.Valuationtechniqueandqualitativeandquantitativeinformationonmajorparametersforthefairvaluemeasuresustainingandnon-persistentonthird-order
5.Adjustmentinformationandsensitivityanalysisofunobservableparametersforthefairvaluemeasuresustainingandnon-persistentonthird-order
6.Sustainingitemsmeasuredbyfairvalue,asfortheconversionbetweenatalllevels,reasonsforconversionandpolicyforconversiontimepoint
7.ChangesofvaluationtechniqueinthePeriod
8.Financialassetsandliabilitiesnotmeasuredbyfairvalue
9.Other
XIV.Relatedpartyandrelatedtransactions
1.Parentcompany
| Parentcompany | Registrationplace | Businessnature | Registeredcapital | RatioofshareholdingontheCompany | RatioofvotingrightontheCompany |
| ShenzhenAgricultureandFoodInvestmentHoldingGroupCo.,Ltd. | Shenzhen | Investinginindustry,development,operationandmanagementoftheownproperty | 5,000millionyuan | 63.79% | 72.02% |
ExplanationonparentcompanyoftheCompanyTheultimatecontrolleroftheCompanyisShenzhenMunicipalPeople’sGovernmentState-ownedAssetsSupervision&AdministrationCommissionOtherexplanation:
2.SubsidiariesoftheCompanyFormoredetailsofsubsidiariesoftheCompany,pleasereferto“NoteX(1)”.
3.JointventureandassociatedenterpriseoftheCompanyFormoredetailsofimportantjointventureandassociatedenterpriseoftheCompany,pleasereferto“NoteX(3)”.OtherjointventureandassociatedenterprisethathaverelatedtransactionwiththeCompanyinthePeriodorthathavebalance
withtheCompanyarisingfromtransactioninlastperiodaredescribedasfollows:
| Jointventure/Associatedenterprise | Relationshipwiththeenterprise |
Otherexplanation
4.Otherrelatedparty
| Otherrelatedparty | Relationshipbetweenotherrelatedpartyandthecompany |
| ShenzhenAgriculturalProductsGroupCo.,Ltd | Holdingsubsidiaryofparentcompany |
| GuangxiHigreenAgriculturalProductsInternationalLogisticsCo.,Ltd. | Holdingsubsidiaryofparentcompany |
| ShenzhenHigreenInternationalAgriculturalProductsLogisticManagementCo.,Ltd | Holdingsubsidiaryofparentcompany |
| ShenzhenZhenpinGroupCo.,Ltd | Holdingsubsidiaryofparentcompany |
| ShenzhenZhenchuSupplyChainCo.,Ltd. | Holdingsubsidiaryofparentcompany |
| Xi’anMoerAgriculturalProductsCo.,Ltd | Holdingsubsidiaryofparentcompany |
| ShenzhenShenliangColdTransportCo.,Ltd. | HoldingsubsidiariesoftheCompany’sassociatedenterprise |
| ShenzhenShennongKitchenCo.,Ltd | SubsidiariesoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
| ZhanjiangHaitianAquaticFeedCo.,Ltd | SubsidiariesoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
| ZhanjiangChangshan(Shenzhen)EcologicalAquacultureCo.,Ltd | SubsidiariesoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
Otherexplanation
5.Relatedtransaction
(1)Goodspurchasing,laborserviceprovidingandreceivingGoodspurchasing/laborservicereceiving
InRMB
| Relatedparty | Relatedtransactioncontent | CurrentPeriod | Approvedtransactionlimit | Whethermorethanthetransactionlimit(Y/N) | LastPeriod |
| ShenzhenShenyuanDataTech.Co.,Ltd | Informationsoftwaredevelopment | 2,661,837.76 | N | 5,091,557.43 | |
| ShenzhenShennongKitchenCo.,Ltd | Procurementofgoods | 2,303,894.07 | N | 852,212.56 | |
| ShenzhenShenliangColdTransportCo.,Ltd. | Warehousingservices/Transportationservices | 163,398.75 | N | 137,432.79 |
Goodssold/laborserviceproviding
InRMB
| Relatedparty | Contentofrelatedtransactioncontent | Currentperiod | Lastperiod |
| GuangxiHigreenAgriculturalProductsInternationalLogisticsCo.,Ltd. | Grainandoilsales | 25,911.50 | 0.00 |
| ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | Teasalesandpropertymanagementservices | 15,546.90 | 9,433.95 |
| ShenzhenAgriculturalProductsGroupCo.,Ltd | Teasales,grainandoilsales | 14,538.05 | 8,240.71 |
| ShenzhenShenliangColdTransportCo.,Ltd. | Grainsales,warehousingservices,teasales | 98,874.41 | 512,330.45 |
| ShenzhenShennongKitchenCo.,Ltd | Grainandoilsales,teasales | 114,073.49 | 41,203.54 |
| ShenzhenZhenpinGroupCo.,Ltd. | Propertymanagementservice | 210,774.85 | 0.00 |
| ShenzhenZhenchuSupplyChainCo.,Ltd. | Grainandoilsalesandtransportationservices | 678,685.83 | 971,414.88 |
| ShenzhenFoodMaterialsGroupCo.,Ltd | Grainandoilsales | 2,045.70 | 0.00 |
| ShenzhenCabbageTechnologyCo.,Ltd | Grainandoilsales | 2,591.15 | 0.00 |
| Xi’anMoerAgriculturalProductsCo.,Ltd | Grainandoilsales | 38,867.25 | 0.00 |
Explanationongoodspurchasing,laborserviceprovidingandreceiving
(2)Relatedtrusteeshipmanagement/contract&entrustmanagement/outsourcingTrusteeshipmanagement/contract:
InRMB
| Client/Contract-outparty | Entrustingparty/Contractor | Trustee/assetscontract | Trustee/start | Trustee/ends | Managedearnings/pricingofthecontractearnings | Managedearningsconfirmedintheperiod/contractearnings |
Relatedmanaged/contract:
Entrustedmanagement/outsourcing:
InRMB
| Client/Contract-outparty | Entrustingparty/Contractor | Trustee/assetscontract | Trustee/start | Trustee/ends | Managedearnings/pricingofthecontractearnings | Managedearningsconfirmedintheperiod/contractearnings |
Relatedmanagement/outsourcing:
(3)Relatedlease
Thecompanyactsasthelessor:
InRMB
| Lessee | Assetstype | LeaseincomerecognizedinthePeriod | LeaseincomerecognizedlastPeriod |
| ShenzhenShenyuanDataTechnologyCo.,ltd. | Operatingsite | 223,111.41 | 261,994.26 |
Thecompanyactsasthelessee:
InRMB
| Lessor | Assetstype | Simplifiedrentalfeesforshort-termleasesandlowvalueassetleases(ifapplicable) | Variableleasepaymentsnotincludedinthemeasurementofleaseliabilities(ifapplicable) | Rentpaid | Interestexpenseonleaseliabilitiesassumed | Increasedright-of-useassets | |||||
| Currentperiod | Lastperiod | Currentperiod | Lastperiod | Currentperiod | Lastperiod | Currentperiod | Lastperiod | Currentperiod | Lastperiod | ||
| Shenzhen | Office | 7,885.50 | 15,771.0 | 7,885.50 | 15,771.0 | ||||||
| HigreenInternationalAgriculturalProductsLogisticManagementCo.,Ltd | space | 0 | 0 |
Explanationonrelatedlease
(4)RelatedguaranteeTheCompanyactsastheguarantor
InRMB
| Securedparty | Guaranteeamount | Guaranteestartdate | Guaranteeexpirydate | Whethertheguaranteehasbeenfulfilled |
TheCompanyactsasthesecuredparty
InRMB
| Guarantor | Guaranteeamount | Guaranteestartdate | Guaranteeexpirydate | Whethertheguaranteehasbeenfulfilled |
Explanationonrelatedguarantee:
(5)Relatedparty’sborrowedfunds
InRMB
| Relatedparty | Borrowingamount | Startingdate | Maturitydate | Note |
| Borrowing | ||||
| Lending | ||||
(6)Assetstransferanddebtreorganizationofrelatedparty
InRMB
| Relatedparty | Contentofrelatedtransaction | CurrentPeriod | LastPeriod |
(7)Remunerationofkeyexecutives
InRMB
| Item | CurrentPeriod | LastPeriod |
(8)Otherrelatedtransaction
6.Accountsreceivablefromrelatedparties
（1）Itemsreceivable
InRMB
| Item | Relatedparty | Endingbalance | Beginningbalance | ||
| Bookbalance | Bookbalance | Bookbalance | Baddebtprovision | ||
| Accountreceivable | GuangxiHigreenAgriculturalProductsInternational | 29,280.00 | 0.00 | 0.00 | 0.00 |
| LogisticsCo.,Ltd. | |||||
| Accountreceivable | ShenzhenAgricultureandFoodInvestmentHoldingGroupCo.,Ltd. | 16,388.00 | 158.84 | 15,884.00 | 158.84 |
| Accountreceivable | ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | 1,123.20 | 0.00 | 1,123.20 | 0.00 |
| Accountreceivable | ShenzhenAgriculturalProductsGroupCo.,Ltd | 4,788.00 | 46.56 | 4,656.00 | 46.56 |
| Accountreceivable | ShenzhenShenliangColdTransportCo.,Ltd. | 98.83 | 98.83 | 9,882.80 | 98.83 |
| Accountreceivable | ShenzhenShennongKitchenCo.,Ltd | 70,175.00 | 177.63 | 272,089.00 | 2,720.89 |
| Accountreceivable | ShenzhenZhenchuSupplyChainCo.,Ltd. | 281,544.06 | 3,834.85 | 437,388.10 | 4,420.95 |
| Accountreceivable | ShenzhenCabbageTechnologyCo.,Ltd | 43,920.00 | 0.00 | 0.00 | 0.00 |
| Accountreceivable | HuizhouHigreenAgriculturalProductsInternationalLogisticsCo.,Ltd. | 23,220.00 | 232.20 | 23,220.00 | 232.20 |
| Otheraccountreceivable | ShenzhenAgricultureandFoodInvestmentHoldingGroupCo.,Ltd. | 1,001,000.00 | 0.00 | 1,001,000.00 | 0.00 |
| Otheraccountreceivable | ShenzhenHigreenInternationalAgriculturalProductsLogisticManagementCo.,Ltd | 50,000.00 | 0.00 | 50,000.00 | 0.00 |
| Otheraccountreceivable | ShenzhenShenyuanDataTech.Co.,Ltd | 466,800.00 | 4,668.00 | 466,800.00 | 4,668.00 |
| Otheraccountreceivable | ShenzhenShichumingmenCateringManagementCo.,Ltd. | 1,908,202.67 | 1,908,202.67 | 1,908,202.67 | 1,908,202.67 |
| Otheraccountreceivable | ZhanjiangChangshan(Shenzhen)EcologicalAquacultureCo.,Ltd | 5,520.00 | 5,520.00 | 5,520.00 | 5,520.00 |
| Otheraccount | Changzhou | 24,608,742.46 | 22,187,644.18 | 24,608,742.46 | 22,187,644.18 |
| receivable | ShenbaoChacangE-businessCo.,Ltd. | ||||
| Otheraccountreceivable | ShenzhenShenliangColdTransportCo.,Ltd. | 10,000.00 | 0.00 | 10,000.00 | 0.00 |
| Otheraccountreceivable | ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | 0.00 | 0.00 | 2,000.00 | 0.00 |
(2)Payableitem
InRMB
| Item | Relatedparty | Endingbookbalance | Openingbookbalance |
| Contractliability | ShenzhenShennongKitchenCo.,Ltd | 1,419.00 | 0.00 |
| Accountpayable | ShenzhenMunicipalPeople’sGovernmentState-ownedAssetsSupervision&AdministrationCommission | 45,130,521.99 | 23,263,563.60 |
| Otheraccountpayable | ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | 41,486.00 | 41,486.00 |
| Otheraccountpayable | ShenzhenShennongKitchenCo.,Ltd | 550,000.00 | 275,000.00 |
| Otheraccountpayable | ShenzhenShenyuanDataTech.Co.,Ltd | 427,310.00 | 1,727,021.67 |
| Otheraccountpayable | ShenzhenAgricultureandFoodInvestmentHoldingGroupCo.,Ltd. | 146,162,941.72 | 146,162,941.72 |
| Otheraccountpayable | ZhanjiangHaitianAquaticFeedCo.,Ltd | 20,000.00 | 20,000.00 |
| Otheraccountpayable | ZhanjiangChangshan(Shenzhen)EcologicalAquacultureCo.,Ltd | 8,095,680.19 | 8,069,454.17 |
| Accountpayable | ShenzhenShenyuanDataTech.Co.,Ltd | 4,500.00 | 87,671.67 |
7.Relatedpartycommitment
8.Other
XV.Share-basedpayment
1.Overallsituationofshare-basedpayment
□Applicable?Notapplicable
2.Share-basedpaymentsettledbyequity
□Applicable?Notapplicable
3.Share-basedpaymentsettledbycash
□Applicable?Notapplicable
4.Share-basedpaymentexpenseincurrentperiod
□Applicable?Notapplicable
5.Modificationandterminationofshare-basedpaymentNil
6.Other
XVI.Commitmentorcontingency
1.ImportantcommitmentsImportantcommitmentsonbalancesheetdateAsofJune30,2024,therearenoothersignificantcommitmentsthatthecompanyshoulddisclose
2.Contingency
(1)Contingencyonbalancesheetdate
(1)Contingentliabilitiesarisingfrompendinglitigationandarbitrationandtheirfinancialimpact
| SN | Plaintiff | Defendant | Cause | Court | Target(’0000yuan) | Progress |
| 1 | ShenzhenYanxinIndustrialCo.,Ltd(YanxinIndustrial) | SZCG | Partofleasecontractdisputelawsuit | LonggangDistrictPeople’sCourtofShenzhen,GuangdongProvince | 158.38 | Pending |
| 2 | NanshanDistrictHousingandUrban-RuralDevelopmentBureau | SZCG | Contractdisputelawsuit | ShenzhenIntermediatePeople'sCourt | 389.88 | Pending |
| 3 | ZhonggangConstructionGroupCo.,Ltd(ZhonggangConstruction) | DongguanLogistics | Constructionengineeringcontractdisputelawsuit | MaritimeCourtofHaizhuDistrict,GuangzhouCity,GuangdongProvince | 2,800.54 | Pending |
| 4 | ZhongjiGuoliangTrade(Liaoning)Co.,Ltd(ZhongjiGuoliang) | HualianCompany,SZCG,SZCH | Disputesoversalescontracts | ShenzhenIntermediatePeople'sCourt | 297.31 | Pending |
| 5 | PengMiaosheng | GuangdongYongshenConstructionEngineeringCo.,Ltd,InternationalFoodIndustrialPark,XuJianqiang | Constructionengineeringcontractdisputelawsuit | TheFirstPeople’sCourtofDongguanCity,GuangdongProvince, | 453.51 | Pending |
| 6 | ShanghaiBaoyanCateringCo.,Ltd. | HangzhouJuFangYongHoldingCo.,LtdandShenzhenShenshenbao | Enforcementobjectioncase | BinjiangDistrictPeople'sCourtofHangzhou, | 104.37 | Pending |
| SN | Plaintiff | Defendant | Cause | Court | Target(’0000yuan) | Progress |
| InvestmentCo.,Ltd | Zhejiangprovince |
LeaseContractDisputebetweenYanxinIndustrialandSZCG(Part)OnApril12,2022,theplaintiffYanxinIndustrialsuedSZCGintheLonggangDistrictPeople’sCourtofShenzhen,requestingthedefendanttopaytheplaintiffthefollowingamountstotaling1,583,800yuan:1)Compensationfortheplaintiff’shousingrenovationexpensesof1,263,800yuan(includingfireengineeringconstructioncostsof1,840,000yuan,purchaseoffireequipmentcostsof900,000yuan(buildings1-6),anddecorationengineeringconstructioncostsof3,062,000yuan);2)Compensationfortheplaintiff’swaterandelectricityfacilitymaintenancefeesof120,000yuan(18,000yuanperyearforbuilding3);3)Compensationfortheplaintiff’sexpensesofconvertingthepropertyfromindustrialtocommercialuse,amountingto200,000yuan;4)Litigationcoststobebornebythedefendant.OnJanuary11,2023,theLonggangDistrictPeople’sCourtofShenzhenmadeajudgment:thedefendantSZCGshallpaytheplaintiffYanxinIndustries640,000.00yuanforhouserenovationcompensationwithinsevendaysfromtheeffectivedateofthisjudgment;theotherclaimsoftheplaintiffYanxinIndustriesaredismissed.Thecaseacceptancefeeis24,200.00yuan,with11,200.00yuanbornebytheplaintiffand13,000.00yuanbornebythedefendant.Boththeplaintiffandthedefendanthaveappealed.OnJanuary26,2024,theGuangdongProvinceShenzhenIntermediatePeople’sCourtmadearuling:thefirst-instancejudgmentisrevoked;thecaseisremandedtotheLonggangDistrictPeople’sCourtofShenzhen,GuangdongProvinceforretrial.Asofnow,theCompanyisunabletodeterminethefinancialimpactofpotentialliabilities,andtheestimatedliabilitiesforthispendinglawsuithavenotbeenrecognized.
ContractDisputebetweenNanshanDistrictHousingandUrban-RuralDevelopmentBureauandSZCGOnSeptember1,2022,theNanshanDistrictHousingandUrban-RuralDevelopmentBureaufiledalawsuitwiththeFutianDistrictPeople’sCourtofShenzhenagainstSZCG,requesting:1)JudgementforthedefendantCerealsGrouptofulfillitsassistanceobligationbyissuingcorrespondinglegalandtax-inclusiveinvoicestotheplaintifffortherepurchaseamount,withaninvoiceamountof3.8988millionyuan.2)Thelitigationcostsinthiscaseshallbebornebythedefendant.OnJanuary26,2024,theFutianDistrictPeople’sCourtofShenzhenruled:I)ThedefendantSZCGshallissuelegalandtax-inclusiveinvoicestotheplaintiffNanshanDistrictHousingandUrban-RuralDevelopmentBureauintheamountof3.8988millionyuanwithintendaysfromtheeffectivedateofthisjudgment.II)DismissthecounterclaimrequestofthedefendantSZCG.OnFebruary7,2024,SZCGfiledanappeal.Thecaseiscurrentlyunderreview.Note:TheassetsofDingtouVillageprojectbelongtotheassetsthathavebeenrestructuredandlistedfordivestment,andhavebeendivestedfromthecompany.Asofnow,ourcompanydoesnotneedtorecognizeestimatedliabilitiesforthispendinglawsuit.
ConstructionEngineeringContractDisputebetweenZhonggangConstructionandDongguanLogisticsOnJune30,2023,ZhonggangConstructionfiledalawsuitagainstDongguanLogisticswiththeGuangzhouMaritimeCourt.GuangDongProvincePlanning&DesigningInstituteforWaterTransportationCo.,Ltdisthethirdparty(hereinafterreferredtoas“Planning&DesignInstitute”,requesting:1)Judgmentforthedefendanttopaytheplaintiffconstructionfeesof15,614,000.00
yuan;2)Judgmentforthedefendanttopayoverduepaymentinteresttotheplaintiff(specificcalculationdetailedinthe“InterestCalculationTable,”currentlytotaling6,371,300.00yuanuntilJune30,2023);3)Judgementforthedefendanttocompensatetheplaintiffforthedelayintheconstructionperiodandalossof6.02millionyuan;4)Judgmentforthedefendanttobearalllitigationcostsinthiscase.Thetotalamountoftheaforementionedfirstandthirdlitigationrequestsiscurrently28,005,400.00yuan.OnSeptember15,2023,theplaintiffsubmittedanapplicationtothecourttoconductanappraisalofthedisputedissuesinthecase.OnNovember6,2023,theappraisalinstitutionwasdeterminedtobeNanjingYongdaoEngineeringConsultingCo.,Ltd.,ZhuhaiBranch.OnDecember4,2023,theappraisalinstitutionconductedon-siteinspectionsatthefirstphaseterminalofDongguanLogistics.OnDecember18,2023,bothpartiessubmittedadditionalappraisalmaterialsinaccordancewiththerequirementsofthecourtandtheappraisalinstitution,andprovidedcross-examinationopinionsontheadditionalmaterialssubmittedbytheotherparty.OnMay17,2024,thecasewasformallyheardintheGuangzhouMaritimeCourt.Beforetheconclusionofthecourtinvestigation,theplaintiffamendeditsclaimsasfollows:1.Thedefendantshallpaytheplaintiff16,014,585.88yuaninprojectpayments;2.Thedefendantshallpaytheplaintiffinterestasfollows:553,266.17yuanforoverdueprogresspayments,334,024.12yuanontheunpaidbalanceupto85%ofthetotalconstructioncostsafterprojectcompletion,1,869,352.17yuanontheunpaidbalanceupto95%ofthesettlementamountafterprojectacceptance,and3,739,669.73yuanforthedelayedreturnofthewarrantydeposit(withthetotalinterestcalculateduptoJune30,2023,being6,496,312.19yuan).Interestistobecalculatedontheoutstandingamountfromthedateofdelayuntilfullpayment,at1.5timesthecorrespondingloaninterestratepublishedbythePeople'sBankofChinafromOctober24,2015,toAugust19,2019,andat1.5timestheLoanPrimeRate(LPR)fromOctober21,2019,onwards;3.Thedefendantshallcompensatetheplaintiff6,226,500yuanforconstructiondelaylosses(593daysat10,500yuan/day);4.Thedefendantshallbearthejudicialappraisalfeesinproportiontotheoutcomeoftheappraisalclaims;5.Thedefendantshallbearalllitigationcosts.OnJuly29,2024,theGuangzhouMaritimeCourtruled:1.Thedefendant,DongguanLogistics,shallpaytheplaintiff,ZhonggangConstruction,15,213,127.76yuaninprojectpayments,plusinterestattheLoanPrimeRate(LPR)publishedbytheNationalInterbankFundingCenterfromDecember31,2019,untilfullpaymentismade;2.Thedefendantshallpaytheplaintiff106,696.65yuaninappraisalfees;3.Allotherclaimsbytheplaintiffaredismissed.OnAugust9,2024,DongguanLogisticsfiledanappealwiththeGuangdongHighPeople'sCourt,requesting:1)Theannulmentofthefirstitemoftheoriginaljudgment(2023)Yue72MinchuNo.1329,andarevisedjudgmentfortheappellanttopay5,286,821.63yuaninprojectpaymentswithcorrespondinginterest;2)Theannulmentoftheseconditemoftheoriginaljudgment,witharecalculationoftheappraisalfeesbasedontherevisedamount;3)Thatalllitigationcostsforthefirstandsecondinstancesbebornebytheappellee.Asofnow,ourcompanyisunabletodeterminethefinancialimpactofpotentialliabilities,andestimatedliabilitiesforthispendinglawsuithavenotbeenrecognized.
4ContractDisputeLawsuitbetweenZhongjiGuoliangandHualianCompany,SZCGandSZCH
ZhongjiGuoliangfiledalawsuitagainstHualianCompany(thefirstdefendant),SZCG(theseconddefendant),andSZCH(thethirddefendant)withtheFutianDistrictPeople’sCourtofShenzhen,requesting:1)Judgmentforthefirstdefendanttorefundthedeductedpaymentof2.7254millionyuanandcompensatetheplaintiffforoverduelosses(basedonthedeductedpaymentof2.7254millionyuan,calculatedattheone-yearloanmarketquotedinterestrate(LPR)plus50%,fromNovember12,2021,tothedateofpayment,currentlytotaling0.2477millionyuanuntilJuly11,2023);2)theseconddefendantandthethirddefendanttojointlyassumetheliabilityforthefirstlitigationrequest;3)Litigationfees,propertypreservationfees,andotherlitigationcoststobebornebythethreedefendants(thetotalamountforthefirstlitigationrequestcurrentlyamountsto2.9731millionyuanuntilJuly11,2023).
ThedefendantHualianCompanyfiledacounterclaimrequest:1)OrderthecounterclaimdefendantZhongjiGuoliangtopaytheremainingpaymentandoverduepaymentinteresttotaling943.5yuantothecounterclaimplaintiffHualianCompany(theoverduepaymentinterestisbasedontheremainingpaymentof943.5yuan,andischarged50%basedontheone-yearloanmarketquotationrateLPR,calculatedfromSeptember30,2021tothedateofpaymentsettlement,andtemporarilycalculatedas108.68yuanuntilOctober23,2023);2)OrderthedefendantZhongjiGuolianginthecounterclaimtopaylawyer'sfeesof88,000.00yuantotheplaintiffHualianCompanyinthecounterclaim;3)OrderthatallcounterclaimcostsinthiscasebebornebythedefendantZhongjiGuolian.OnAugust7,2023,theFutianDistrictPeople’sCourtofShenzhenissuedacivilrulingtoseal,seize,orfreezepropertyunderthenameofHualianCompanyworth2.9731millionyuan.OnApril16,2024,theFutianDistrictPeople'sCourtofShenzhenissuedthejudgment(2023)Yue0304MinchuNo.40246:1.Thedefendant(counterclaimplaintiff),ShenzhenHualian,isorderedtoreturn2,011,329.7yuantotheplaintiff(counterclaimdefendant),ZhongjiGuoliang,withintendaysfromtheeffectivedateofthisjudgment,andtopayinterestonthisamount,calculatedattheone-yearLoanPrimeRate(LPR)fromNovember12,2021,untilfullpayment;2.Thecourtdismissestheotherclaimsoftheplaintiff(counterclaimdefendant),ZhongjiGuoliang;3.Thecourtdismissesallcounterclaimsofthedefendant(counterclaimplaintiff),ShenzhenHualian.OnApril16,2024,theFutianDistrictPeople'sCourtofShenzhengrantedtheplaintiff,ZhongjiGuoliang,permissiontowithdrawthelawsuitagainstthedefendants,SZCGandSZCH.OnApril30,2024,ShenzhenHualianfiledanappealwiththeShenzhenIntermediatePeople'sCourt,requesting:1)ThereversalofthefirstitemofjudgmentNo.(2023)Yue0304Minchu40246andthedismissalofallclaimsbytheappellee;2)Thereversalofthethirditemoftheoriginaljudgment,witharevisedjudgmentinfavoroftheappellant'sclaims;3)Thatalllitigationcostsforboththefirstandsecondinstancesbebornebytheappellee.OnMay6,2024,ZhongjiGuoliangfiledanappealwiththeShenzhenIntermediatePeople'sCourt,requesting:1)ThereversaloftheseconditemoftheciviljudgmentNo.(2023)Yue0304Minchu40246,witharevisedjudgmenttocalculateintereston2,011,329.7yuanatarate50%abovetheone-yearLoanPrimeRate(LPR)publishedbytheNationalInterbankFundingCenter,fromNovember12,2021,untilfullpaymentismade;2)Thatthelitigationcostsforthesecondinstancebebornebytheappellee.Asofnow,ourcompanybelievesthatthefirst-instancecourtmadesignificanterrors,andthereisastronglikelihoodthatthesecond-instancecourtwilldismisstheappellee'sclaims.Therefore,noprovisionforcontingentliabilityhasbeenrecognizedforthispendinglitigation.
5ConstructionContractDisputeLawsuitbetweenPengMiaoshengandFoodIndustryPark,YongshengConstruction,andXuJianqiangConstructionOnOctober24,2023,PengMiaoshengfiledalawsuitwiththeFirstPeople’sCourtofDongguanCity,withthefollowinglitigationrequests:1)DemandforDefendantXuJianqiangtopayconstructionlaborfeesof4.0973millionyuan;2)DemandforDefendantXuJianqiangtopayinterestonconstructionlaborfees.Calculatedattheone-yearloanmarketquotedinterestrateof3.85%publishedbytheNationalInterbankFundingCenterfromJanuary6,2021,untilthefullrepaymentoftheconstructionfeeof4.0973millionyuan.TheinterestaccrueduntilOctober24,2023,amountsto0.4377millionyuan;3)YongshengConstructiontobearjointandseveralpaymentresponsibilityfortheaforementionedfeeof4.0973millionyuanandinterest;4)DongguanInternationalFoodIndustryParkDevelopmentCo.,Ltd.tobearpaymentresponsibilityfortheaforementionedconstructionfeeof4.0973millionyuanandinterestwithinthescopeofitsoutstandingpaymentfortheconstructionfee.Thetotalamountfortheabovefeesiscurrently4.5351million
yuan;5)Demandforthedefendanttobearalllitigationcosts.TheDongguanFirstPeople'sCourtheldthreepre-trialconferencesonJanuary9,May9,andJune7,2024.Theplaintiff,PengMiaosheng,submittedanapplicationforappraisaltothecourt.Thecasehasnotyetproceededtoformaltrial.Thiscaseinvolvesacontractdispute,butDongguanInternationalFoodIndustrialParkDevelopmentCo.,Ltd.(hereinafter"DongguanFood")hasnocontractualrelationshipwiththeplaintiff,PengMiaosheng.Moreover,asthecaseisstillundertrial,ourcompanybelievesthatthecourtisunlikelytoholdDongguanFoodliable.Therefore,noprovisionforcontingentliabilityhasbeenrecognizedforthislawsuit.Asofnow,ourcompanyisunabletodeterminethefinancialimpactofpotentialliabilities,andestimatedliabilitiesforthispendinglawsuithavenotbeenrecognized.⑥EnforcementobjectioncasebetweenShanghaiBaoyanCateringCo.,Ltd.,HangzhouJuFangYongHoldingCo.,LtdandShenzhenShenshenbaoInvestmentCo.,Ltd.InthefranchisecontractdisputebetweenShanghaiBaoyanCateringCo.,Ltd.("BaoyanCompany")andHangzhouFuhaitangCateringManagementChainCo.,Ltd.("FuhaitangCatering"),theHangzhouIntermediatePeople'sCourtissuedfinaljudgmentNo.(2022)Zhe01MinZhong5242.Underthejudgment,FuhaitangCateringisrequiredtoreturn960,000yuaninagencycooperationfeesanddepositstoBaoyanCateringwithinonemonthofthejudgment'seffectivedate.IfFuhaitangCateringfailstomakethepaymentwithinthespecifiedperiod,itmustpaydoubletheinterestontheoverdueamountinaccordancewithArticle260oftheCivilProcedureLawofthePeople'sRepublicofChina.Afterthejudgmenttookeffect,BaoyanCateringappliedforenforcementwiththeBinjiangDistrictPeople'sCourtofHangzhouunderenforcementcasenumber(2023)Zhe0108Zhi534.However,sincethejudgmentdebtor,HangzhouFuhaitangCatering,hadnoassetsavailableforenforcement,thecourtterminatedtheenforcementprocedure.BaoyanCateringthenappliedtoaddthecurrentsoleshareholderofFuhaitangCateringShenzhenShenshenbaoInvestmentCo.,Ltd.,andtheoriginalsoleshareholderatthetimeofitsfounding,HangzhouJuFangYongHoldingsCo.,Ltd.,asjudgmentdebtors.BaoyanCateringalsoraisedthefollowingobjectionstotheenforcement:1)HangzhouJuFangYongHoldingsCo.,Ltd.shouldbeheldliablewithinthescopeofthe850,000yuancapitalwithdrawal;2)ShenzhenShenshenbaoInvestmentCo.,Ltd.shouldbearjointliabilityforthedebtsofFuhaitangCateringOnApril23,2024,theBinjiangDistrictPeople'sCourtofHangzhouissuedEnforcementRulingNo.(2024)Zhe0108Zhiyi33,findingthattheexistingevidencewasinsufficienttoprovethatHangzhouJuFangYongHoldingsCo.,Ltd.engagedincapitalwithdrawal.Asaresult,thecourtrejectedBaoyanCatering’sapplicationtoaddShenzhenShenshenbaoInvestmentCo.,Ltd.andHangzhouJuFangYongHoldingsCo.,Ltd.asjudgmentdebtorsinenforcementcaseNo.(2023)Zhe0108Zhi534,anddismissedtheobjectionofBaoyanCatering.OnApril25,2024,theplaintiff,ShanghaiBaoyanCateringCo.,Ltd.,filedalawsuitwiththeBinjiangDistrictPeople'sCourtofHangzhou,ZhejiangProvince,againstHangzhouJuFangYongHoldingsCo.,Ltd.(Defendant1)andShenzhenShenshenbaoInvestmentCo.,Ltd.(Defendant2),requesting:1)AjudgmentholdingDefendant1jointlyliabletotheplaintiffforthethirdparty'sdebtsasdeterminedintheHangzhouIntermediatePeople'sCourtCivilJudgmentNo.(2022)Zhe01MinZhong5242(returning960,000yuaninagencycooperationfeesanddeposits,andpaying83,700yuanindoubledinterestfordelayedperformance),withinthescopeofthe850,000yuancapitalwithdrawal;2)AjudgmentholdingDefendant2jointlyliabletotheplaintiffforthethirdparty'sdebtsasspecifiedinthesamejudgment;3)Thatalllitigationcostsbebornebybothdefendants.FuhaitangCateringManagementChainCo.,Ltd.wasnamedasathirdpartyinthecase.
ThecasewasheardonMay30,2024,butnojudgmenthasbeenissuedyet.Therefore,noprovisionforcontingentliabilityhasbeenrecognizedforthispendinglitigation.
(2)IftheCompanyhasnoimportantcontingencyneedtodisclosed,explainreasonsTheCompanyhasnoimportantcontingencythatneedtodisclose.
3.OtherXVII.Eventsafterbalancesheetdate
1.Importantnon-adjustmentmatters
InRMB
| Item | Content | Impactonfinancialstatusandoperationresults | Reasonsoffailstoestimatetheimpact |
2.Profitdistribution
3.Salesreturn
4.Othereventsafterbalancesheetdate
XVIII.Otherimportantevents
1.Previousaccountingerrorscorrection
(1)Retrospectiverestatement
InRMB
| Contentofaccountingerrorcorrection | Procedures | Itemsimpactduringvarycomparativeperiod | Accumulatedimpact |
(2)Prospectiveapplication
| Contentofaccountingerrorcorrection | Approvalprocedure | Reasonsforadoptingtheprospectiveapplicablemethod |
2.Debtrestructuring
3.Assetsexchange
(1)Exchangeofnon-monetaryassets
(2)Otherassetsexchange
4.Pensionplan
5.Discontinuingoperation
InRMB
| Item | Revenue | Expenses | Totalprofit | Incometaxexpenses | Netprofit | Profitofdiscontinuingoperationattributabletoownersofparentcompany |
Otherexplanation
6.Branch
(1)Recognitionbasisandaccountingpolicyforreportablebranch
(2)Financialinformationforreportablebranch
InRMB
| Item | Offsetbetweenbranches | Total |
(3)ExplainreasonsincasetheCompanyhasnobranches,orisunabletodisclosetotalassetsandliabilitiesofsegments
(4)Otherexplanation
7.Othermajortransactionandeventsmakesinfluenceoninvestor’sdecision
8.OtherXIX.Notestomainitemsoffinancialstatementsofparentcompany
1.Accountreceivable
(1)Accountreceivableclassifiedbycategory
InRMB
| Aging | Endingbookbalance | Beginningbookbalance |
| Within1year(inclusive) | 109,789,556.55 | 65,714,145.99 |
| Over3years | 37,305.68 | 37,305.68 |
| Over5years | 37,305.68 | 37,305.68 |
| Total | 109,826,862.23 | 65,751,451.67 |
(2)Accruedbaddebtprovision
InRMB
| Category | Endingbalance | Beginningbalance | ||||||||
| Bookvalue | Baddebtprovision | Bookvalue | Bookvalue | Baddebtprovision | Bookvalue | |||||
| Amount | Ratio | Amount | Accrualratio | Amount | Ratio | Amount | Accrualratio | |||
| Accountreceivablewithbaddebtprovisionaccruedonsinglebasis | 28,453.08 | 0.03% | 28,453.08 | 100.00% | 0.00 | 28,453.08 | 0.04% | 28,453.08 | 100.00% | 0.00 |
| Including: | ||||||||||
| Accountreceivablewithbaddebtprovisionaccruedonportfolio | 109,798,409.15 | 99.97% | 8,442.65 | 0.01% | 109,789,966.50 | 65,722,998.59 | 99.96% | 8,442.65 | 0.01% | 65,714,555.94 |
| Including: | ||||||||||
| Portfolioofsalesreceivable | 244,330.60 | 0.22% | 8,442.65 | 3.46% | 235,887.95 | 144,909.60 | 0.22% | 8,442.65 | 5.83% | 136,466.95 |
| Object-specificportfolio | 109,554,078.55 | 99.75% | 0.00 | 0.00% | 109,554,078.55 | 65,578,088.99 | 99.74% | 0.00% | 65,578,088.99 | |
| Total | 109,826,862.23 | 100.00% | 36,895.73 | 0.03% | 109,789,966.50 | 65,751,451.67 | 100.00% | 36,895.73 | 0.06% | 65,714,555.94 |
Baddebtprovisionaccruedonsingleitem:
InRMB
| Name | Beginningbalance | Endingbalance | ||||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | Accrualratio | Accrualreason | |
| Baddebtprovisionaccruedonsingleitem: | 28,453.08 | 28,453.08 | 28,453.08 | 28,453.08 | 100.00% | Extremelowabilitytorecover |
| Total | 28,453.08 | 28,453.08 | 28,453.08 | 28,453.08 | ||
Baddebtprovisionaccruedonportfolio:
InRMB
| Name | Endingbalance | ||
| Bookbalance | Baddebtprovision | Accrualratio | |
| Portfolioofsalesreceivable | 244,330.60 | 8,442.65 | 3.45% |
| Object-specificportfolio | 109,554,078.55 | ||
| Total | 109,798,409.15 | 8,442.65 | |
Explanationonthebasistodeterminesuchportfolio:
Iftheprovisionforbaddebtsofaccountreceivableismadeinaccordancewiththegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
(3)Baddebtprovisionaccrued,collectedorreversal
Baddebtprovisionaccruedintheperiod:
InRMB
| Category | Beginningbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Written-off | Other | |||
| Otherprovisiononsingleitem: | 28,453.08 | 28,453.08 | ||||
| Baddebtprovisionofaccountreceivable | 8,442.65 | 8,442.65 | ||||
| Total | 36,895.73 | 36,895.73 | ||||
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtprovision |
(4)Accountreceivableactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajoraccountreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationonaccountreceivablechargedoff:
(5)Topfivereceivablesandcontractassetsatendingbalancebyarrearsparty
InRMB
| Enterprise | Endingbalanceofaccountreceivable | Endingbalanceofcontractassets | Endingbalanceofaccountreceivableandcontractassets | Ratiointotalendingbalanceofaccountreceivablesandcontractassets | Endingbalanceofbaddebtprovisionforaccountreceivableandimpairmentreserveofcontractassets |
2.Otheraccountreceivable
InRMB
| Item | Endingbalance | Beginningbalance |
| Otheraccountreceivable | 1,631,458,762.44 | 1,624,337,855.63 |
| Total | 1,631,458,762.44 | 1,624,337,855.63 |
(1)Interestreceivable
1)Bycategory
InRMB
| Item | Endingbalance | Beginningbalance |
2)Importantoverdueinterest
| Borrower | Endingbalance | Overduetime | Overduecauses | Whetherimpairmentoccursanditsjudgmentbasis |
Otherexplanation:
3)Accruedbaddebtprovision
□Applicable?Notapplicable
4)Baddebtprovisionaccrued,collectedorreversal
InRMB
| Category | Beginningbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Chargedoff | Other | |||
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtprovision |
Otherexplanation:
(5)Interestreceivableactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajorinterestreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationoninterestreceivablechargedoff:
Otherexplanation:
(2)Dividendreceivable
1)Category
InRMB
| Item(ortheinvestedentity) | Endingbalance | Beginningbalance |
2)Importantdividendreceivablewithagingoveroneyear
InRMB
| Item(ortheinvestedentity) | Endingbalance | Accountage | Reasonsfornotcollection | Whetherimpairmentoccursanditsjudgmentbasis |
3)Accruedbaddebtprovision
□Applicable?Notapplicable
4)Baddebtprovisionaccrued,collectedorreversal
InRMB
| Category | Beginningbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Chargedoff | Other | |||
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtprovision |
Otherexplanation:
(5)Dividendreceivableactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajordividendreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationondividendreceivablechargedoff:
Otherexplanation:
(3)Otheraccountreceivable
1)Bynature
InRMB
| Nature | Endingbookbalance | Beginningbookbalance |
| Marginanddeposit | 1,008,451.22 | 1,000,000.00 |
| Otherintercoursefunds | 1,658,280,046.26 | 1,651,168,026.40 |
| Total | 1,659,288,497.48 | 1,652,168,026.40 |
2)Byaging
InRMB
| Aging | Endingbookbalance | Beginningbookbalance |
| Within1year(inclusive) | 1,628,484,297.01 | 314,162,982.64 |
| 1-2year | 5,928,622.71 | 1,312,629,466.00 |
| Over3years | 24,875,577.76 | 25,375,577.76 |
| Over5years | 24,875,577.76 | 25,375,577.76 |
| Total | 1,659,288,497.48 | 1,652,168,026.40 |
3)Accruedbaddebtprovision
InRMB
| Category | Endingbalance | Beginningbalance | ||||||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
| Amount | Ratio | Amount | Accrualratio | Amount | Ratio | Amount | Accrualratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
Baddebtprovisionismadeonthebasisofthegeneralmodelofexpectedcreditlosses:
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceonJan.1,2024 | 213,626.85 | 27,616,266.89 | 27,829,735.04 | |
| BalanceonJan.1,2024intheperiod | ||||
| BalanceonJune30,2024 | 213,626.85 | 27,616,266.89 | 27,829,735.04 |
ClassificationbasisandbaddebtprovisionratioforeachstageChangesinbookbalancewithsignificantchangesinthecurrentperiod'sprovisionforlosses
□Applicable?Notapplicable
4)Baddebtprovisionaccrued,collectedorreversalBaddebtprovisionaccruedintheperiod:
InRMB
| Category | Beginningbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Chargedoff | Other | |||
| Baddebtprovisionaccruedonsinglebasis | 213,468.15 | 213,468.15 | |
| Baddebtprovisionaccruedonportfoliobasis | 27,616,266.89 | 27,616,266.89 | |
| Total | 27,829,735.04 | 27,829,735.04 |
Importantbaddebtprovisioncollectedorreversalincurrentperiod:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtprovision |
5)Otheraccountreceivableactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajorotheraccountreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N)? |
Explanationonotheraccountreceivablechargedoff:
6)Top5accountsreceivableatendingbalancebyarrearsparty
InRMB
| Enterprise | Nature | Endingbalance | Aging | Proportionintotalotherreceivablesatendingbalance(%) | Endingbalanceofbaddebtprovision |
7)Thosebookedintootheraccountreceivablesduetocentralizedfundmanagement
InRMBOtherexplanation:
3.Long-termequityinvestment
InRMB
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Investmentinsubsidiary | 4,032,344,425.09 | 5,500,000.00 | 4,026,844,425.09 | 4,032,344,425.09 | 5,500,000.00 | 4,026,844,425.09 |
| Investmentinjointventureandassociatedenterprise | 2,927,628.53 | 2,927,628.53 | 0.00 | 2,927,628.53 | 2,927,628.53 | 0.00 |
| Total | 4,035,272,053.62 | 8,427,628.53 | 4,026,844,425.09 | 4,035,272,053.62 | 8,427,628.53 | 4,026,844,425.09 |
(1)Investmentinsubsidiary
InRMB
| Investedentity | Beginningbalance(bookvalue) | Beginningbalanceofimpairmentprovision | Currentchanges(+-) | Endingbalance(bookvalue) | Endingbalanceofimpairmentprovision | |||
| Additionalinvestment | Capitalreduction | Accrualofimpairmentprovision | Other | |||||
| ShenzhenCerealsGroupCo.,Ltd | 3,291,415,036.82 | 3,291,415,036.82 | ||||||
| DongguanShenliangLogisticsCo.,Ltd. | 321,680,000.00 | 321,680,000.00 | ||||||
| HuizhouShenbaoTechnologyCo.,Ltd. | 60,000,000.00 | 60,000,000.00 | ||||||
| ShenzhenShenbaoHuachengTechnologyCo.,Ltd. | 223,228,545.91 | 223,228,545.91 | ||||||
| ShenzhenShenshenbaoInvestmentCo.,Ltd | 50,000,000.00 | 50,000,000.00 | ||||||
| ShenzhenShenbaoIndustrial&TradingCo.,Ltd | 0.00 | 5,500,000.00 | 0.00 | -5,500,000.00 | 0.00 | |||
| ShenzhenShenliangFoodCo.,Ltd. | 80,520,842.36 | 0.00 | 5,500,000.00 | 80,520,842.36 | 5,500,000.00 | |||
| Total | 4,026,844,425.09 | 5,500,000.00 | 4,026,844,425.09 | 5,500,000.00 | ||||
(2)Investmentinassociatedenterprisesandjointventure
InRMB
| Investmentcompany | Beginningbalance(bookvalue) | Beginningbalanceofimpairmentprovision | Currentchanges(+/-) | Endingbalance(bookvalue) | Endingbalanceofimpairmentprovision | |||||||
| Additionalinvestment | Capitalreduction | Investmentgainsrecognizedunderequity | Othercomprehensiveincomeadjustment | Otherequitychange | Cashdividendorprofitannouncedtoissued | Accrualofimpairmentprovision | Other | |||||
| I.Jointventure | ||||||||||||
| II.Associatedenterprise | ||||||||||||
| ChangzhouSanjingGreaseCo.,Ltd | 0.00 | ||||
| ShenzhenShenbao(Xinmin)FoodsCo.,Ltd | 0.00 | 2,870,000.00 | 0.00 | 2,870,000.00 | |
| ShenzhenShenbao(Liaoyuan)IndustrialCompany | 0.00 | 57,628.53 | 0.00 | 57,628.53 | |
| Subtotal | 2,927,628.53 | 2,927,628.53 | |||
| Total | 0.00 | 2,927,628.53 | 0.00 | 2,927,628.53 |
Therecoverableamountisdeterminedbasedonthenetamountafterdeductingdisposalexpensesfromfairvalue?Applicable?NotapplicableTherecoverableamountisdeterminedbasedonthepresentvalueofexpectedfuturecashflows
□Applicable?NotapplicableReasonsforsignificantdiscrepanciesbetweentheaforementionedinformationandtheinformationorexternalinformationusedinpreviousyears'impairmenttestingReasonsforsignificantdiscrepanciesbetweentheinformationusedinthecompany'spreviousannualimpairmenttestsandtheactualsituationofthecurrentyear
(3)Otherexplanation
4.Operatingincomeandoperatingcost
InRMB
| Item | Currentperiod | Lastperiod | ||
| Income | Cost | Income | Cost | |
| Mainbusiness | 81,572,805.12 | 235,795.14 | 80,328,054.38 | 235,795.14 |
| Otherbusiness | 137,609.18 | 0.00 | 137,609.18 | 0.00 |
| Total | 81,710,414.30 | 235,795.14 | 80,465,663.56 | 235,795.14 |
Breakdowninformationofoperatingincomeandoperatingcosts:
InRMB
| Contractcategory | Branch1 | Branch2 | Total | |||||
| Revenue | Cost | Revenue | Cost | Revenue | Cost | Revenue | Cost | |
| Businesstype | ||||||||
| Including: | ||||||||
Classification
| bybusinessarea |
| Including: |
Marketorcustomertype
| Marketorcustomertype |
| Including: |
Contracttypes
| Contracttypes |
| Including: |
Classificationbytimeofgoodstransfer
| Classificationbytimeofgoodstransfer |
| Including: |
Classificationbycontractduration
| Classificationbycontractduration |
| Including: |
Classificationbysaleschannel
| Classificationbysaleschannel |
| Including: |
Total
Informationrelatedtoperformingobligations:
Total
Item
| Item | Timeforperformanceobligations | Importantpaymentterms | Natureofthegoodspromisedtotransferbythecompany | Isitthemainresponsibleperson? | Theexpectedrefundstocustomersbornebythecompany | Thetypesofqualityassuranceprovidedbythecompanyandrelatedobligations |
OtherexplanationInformationrelatedtothetransactionpriceapportionedtotheremainingperformanceobligations:
Incomecorrespondingtoperformingobligationsthathavebeensignedattheendofthisreportingperiodbutarenotyetfulfilledorfinishedamountedto0.00yuan,amongthem,0.00yuanofincomeisexpectedtoberecognizedintheyearSignificantcontractchangesorsignificanttransactionpriceadjustments
| Item | Accountingtreatmentmethod | Impactonincome |
Otherexplanation:
5.Investmentincome
InRMB
| Item | CurrentPeriod | LastPeriod |
| Incomefromlong-termequityinvestmentmeasuredatcostmethod | 9,380,685.39 | |
| Investmentincomefromdisposaloflong-termequityinvestment | 1,567,130.20 | |
| Investmentincomeduringtheholdingperiodoftradablefinancialassets | 3,729,953.65 | 975,629.57 |
| Total | 14,677,769.24 | 975,629.57 |
6.Others
XX.Supplementaryinformation
1.Currentnon-recurringgains/losses?Applicable□Notapplicable
InRMB
| Item | Amount | Note |
| Gains/lossesfromthedisposalofnon-currentasset | 6,376,281.79 | |
| Governmentalsubsidyreckonedintocurrentgains/losses(exceptforthosewithnormaloperationbusinessconcerned,andconformtothenationalpolicies®ulationsandareenjoyedaccordingtocertainstandard,andhavingacontinuousimpactonthecompany’sgains/losses) | 5,536,754.37 | |
| Gains/lossesofassetsdelegationonothers’investmentormanagement | 3,933,789.27 | |
| Reversalofprovisionofimpairmentofaccountsreceivablewhicharetreatedwithseparatedepreciationtest | 435.73 | |
| Othernon-operatingincomeandexpenditureexceptfortheaforementioneditems | -158,397.83 | |
| Less:impactonincometax | 3,552,532.61 | |
| Impactonminorityshareholders’equity(after-tax) | -2,148.29 | -- |
| Total | 12,138,479.01 |
Detailsofothergains/lossesitemsthatmeetsthedefinitionofnon-recurringgains/losses:
□Applicable?NotapplicableTheCompanyhasnoothergains/lossesitemsthatmeetthedefinitionofnon-recurringgains/losses.Explaintheitemsdefinedasnon-recurringgains/lossesaccordingtothelistsofnon-recurringgains/lossesinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---non-recurringgains/losses
□Applicable?Notapplicable
2.ROEandearningspershare
| Profitsduringreportingperiod | WeightedaverageROE | Earningspershare | |
| Basicearningspershare(RMB/Share) | Dilutedearningspershare(RMB/Share) | ||
| NetprofitsattributabletocommonstockstockholdersoftheCompany | 2.64% | 0.1120 | 0.1120 |
| NetprofitsattributabletocommonstockstockholdersoftheCompanyafterdeductingnon-recurringgainsandlosses | 2.39% | 0.1014 | 0.1014 |
3.DifferenceoftheaccountingdataunderaccountingrulesinandoutofChina
(1)Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothIAS(InternationalAccountingStandards)andChineseGAAP(GenerallyAcceptedAccountingPrinciples)?Applicable□Notapplicable
| Netprofit | Netasset | |||
| Currentamount | Lastamount | Endingbalance | Beginningbalance | |
| UnderChineseGAAP | 129,030,850.78 | 168,149,768.31 | 4,723,330,417.23 | 4,824,452,103.84 |
| ItemandamountadjustedunderIAS | ||||
| Adjustmentofotherpayablestockmarketadjustmentfunds | 1,067,000.00 | 1,067,000.00 | ||
| UnderIAS | 129,030,850.78 | 168,149,768.31 | 4,724,397,417.23 | 4,825,519,103.84 |
(2)Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothforeignaccountingrulesandChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable?Notapplicable
(3)ExplanationondatadifferencesundertheaccountingstandardsinandoutofChina;asforthedifferencesadjustmentauditedbyforeignauditinginstitute,listednameoftheinstitute
4.Other