深圳市深粮控股股份有限公司SHENZHENCEREALSHOLDINGSCO.,LTD.
ANNUALREPORT2024
【April2025】
SectionI.ImportantNotice,ContentsandInterpretationTheBoardofDirectors,theboardofsupervisors,alldirectors,supervisorsandseniorexecutivesofSHENZHENCEREALSHOLDINGSCO.,LTD.(hereinafterreferredtoas“theCompany”)herebyconfirmthattherearenoanyfictitiousstatements,misleadingstatements,orimportantomissionscarriedinthisreport,andshalltakeallresponsibilities,individualand/orjoint,forthereality,accuracyandcompletionofthewholecontents.
PrincipaloftheCompanyWangZhikai,HeadofAccountingLuYuheandHeadofAccountingInstitution(AccountingSupervisor)LuChengjunherebyconfirmthattheFinancialReportofAnnualReport2024isauthentic,accurateandcomplete.AllDirectorshaveattendedtheBoardMeetingfordeliberationofthisReport.Concerningtheforward-lookingstatementswithfutureplanninginvolvedintheannualreport,theydonotconstituteasubstantialcommitmentforinvestors.SecuritiesTimes,ChinaSecuritiesJournal，ShanghaiSecuritiesJournalandJuchaoWebsite(www.cninfo.com.cn)arethemediaappointedbytheCompanyforinformationdisclosure.AllinformationoftheCompanydisclosedintheabovementionedmediashouldprevail.Investorsareadvisedtoexercisecautionofinvestmentrisks.
TheCompanyhasanalyzedtheriskfactorsthattheCompanymayexistanditscountermeasuresinthereport.Investorsareadvisedtoread“ProspectforfuturedevelopmentoftheCompany”inthereportofSectionIIIManagementDiscussionandAnalysis.ThisreporthasbeenpreparedinChineseandEnglishversionrespectively.Intheeventofdifferenceininterpretationbetweenthetwoversions,Chinesereportshallprevail.
TheprofitdistributionplanthatwasdeliberatedandapprovedbytheBoardMeetingis:
basedontotalsharecapitalof1,152,535,254,distributedcashbonusof1.50yuan(taxinclusive)forevery10shares,0sharebonusissued(taxinclusive)andnotransferofcapitalreserveintosharecapital.
Content
SectionI.ImportantNotice,ContentsandInterpretation............................................................................................2
SectionIICompanyProfileandMainFinancialIndexes ...... 6
SectionIIIManagementDiscussionandAnalysis ...... 11
SectionIVCorporateGovernance ...... 30
SectionV.EnvironmentalandSocialResponsibilities..............................................................................................49
SectionVI.ImportantEvents.....................................................................................................................................51
SectionVII.ChangesinSharesandParticularsaboutShareholders.........................................................................77
SectionVIII.PreferredStocks....................................................................................................................................84
SectionIX.CorporateBonds......................................................................................................................................85
SectionX.FinancialReport........................................................................................................................................86
DocumentsAvailableforReference
1.Textoffinancialstatementwithsignatureandsealsoflegalperson,personinchargeofaccountingworksandpersoninchargeofaccountinginstitution;
2.OriginalauditreportwithsealofaccountingfirmandsignatureandsealoftheCPA;
3.OriginalandofficialcopiesofalldocumentswhichhavebeendisclosedonSecuritiesTimes,ChinaSecurities,ShanghaiSecuritiesJournalandJuchaoWebsite(www.cninfo.com.cn)inthereportingperiod;
4.Originalcopiesof2024AnnualReportwithsignatureofthelegalrepresentative.
Interpretation
| Items | Refersto | Contents |
| SZCH/ListedCompany/theCompany/ | Refersto | ShenzhenCerealsHoldingsCo.,Ltd. |
| Shenshenbao/ShenbaoCompany | Refersto | ShenzhenShenbaoIndustrialCo.,Ltd. |
| SZCG | Refersto | ShenzhenCerealsGroupCo.,Ltd |
| Doximi | Refersto | ShenzhenShenliangDoximiBusinessCo.,Ltd. |
| ShenzhenFlour,Flthecompany | 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/FoodMaterialGroup/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 |
SectionIICompanyProfileandMainFinancialIndexes
I.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 | ||
| Abbr.ofEnglishnameoftheCompany | N/A | ||
| LegalRepresentative | WangZhikai | ||
| Registrationsaddress | 8/F,TowerB,No.4Building,SoftwareIndustryBase,SouthDistrict,Science&TechnologyPark,XuefuRd.,YuehaiStreet,NanshanDistrict,Shenzhen | ||
| Codeforregistrationsadd | 518057 | ||
| Historicalchangesofregisteredaddress | TheregisteredaddressoftheCompany,whenlistedin1992,wasNo.10,TianbeiEast,WenjinNorthRoad,LuohuDistrict,Shenzhen;in1999theregisteredaddresschangedtoNo.1058,WenjinNorthRoad,LuohuDistrict,Shenzhen;in2002theregisteredaddresschangedto28/F,TowerBandCofBao’anSquare,No.1002SungangRoad,LuohuDistrict,Shenzhen;in2010theregisteredaddresschangedtoSouthhalfofthe20thfloor,TowerofZhuzilinEducationandTechnologyBuilding,FutianDistrict,Shenzhen;in2015registeredaddresschangedto8/F,TowerB,No.4Building,SoftwareIndustryBase,SouthDistrict,Science&TechnologyPark,XuefuRd.,YuehaiStreet,NanshanDistrict,Shenzhen | ||
| Officeaddress | 13/F,TowerA,WorldTradePlaza,No.9FuhongRd.,FutianDistrict,Shenzhen | ||
| Codesforofficeadd. | 518033 | ||
| Company’swebsite | www.slkg1949.com | ||
| szch@slkg1949.com | |||
II.Person/Waytocontact
| SecretaryoftheBoard | Rep.ofsecurityaffairs | |
| Name | ChenXiaohua | ChenKaiyue,LiuMuya |
| Contactaddress | 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.comliumy@slkg1949.com |
III.Informationdisclosureandpreparationplace
| WebsiteoftheStockExchangewheretheannualreportoftheCompanyisdisclosed | SecuritiesTimes,ChinaSecuritiesJournal,ShanghaiSecuritiesJournal |
| MediaandwebsitewheretheannualreportoftheCompanyisdisclosed | JuchaoWebsite:www.cninfo.com.cn |
| Preparationplaceforannualreport | OfficeoftheBoardofDirectors |
IV.RegistrationchangesoftheCompany
| Organizationcode | 91440300192180754J |
| Changesofmainbusinesssincelisting(ifapplicable) | OnFebruary18,2019,thecompanycompletedtheregistrationproceduresofchangesinindustryandcommerceforbusinessscopeandothermatters.Themainbusinesshasnewlyincreasedthemodernfoodsupplychainservicessuchasgrain&oiltrading,processing,storageandlogisticsonthebasisofproduction,researchanddevelopment,andsalesoffoodrawmaterials(ingredients)mainlyfocusedonteaandnaturalplantdeepprocessing. |
| Previouschangesforcontrollingshareholders(ifapplicable) | OnSeptember10,1999,ShenzhenInvestmentManagementCo.,Ltd.enteredintotheEquityTransferAgreementofShenzhenShenbaoIndustrialCo.,Ltd.withShenzhenAgriculturalProductsGroupCo.,Ltdfor58,347,695sharesoftheCompany(35%intotalsharesoftheCompany)transfertoShenzhenAgriculturalProductsGroupCo.,LtdwithpriceofRMB1.95pershare.ShenzhenAgriculturalProductsGroupCo.,LtdbecamethefirstmajorityshareholderoftheCompanyaftertransferandproceduresfortheaboveequitytransferhascompletedinJune2003.OnApril3,2018,ShenzhenInvestmentHoldingsCo.,Ltd.completedthetransferofallofits79,484,302AsharesofthecompanytoFudeCapital.Afterthecompletionoftheequitytransfer,FudeCapitaldirectlyholds79,484,302Asharesofthecompany(16%ofthecompany’soriginaltotalsharecapital)andcontrols19.09%sharesofthecompanythroughShenzhenAgriculturalProductsGroupCo.,Ltd.indirectly,becomingthecontrollingshareholderofthecompany.In2018,thecompanyimplementedamajorassetrestructuringbyissuing655,752,951A-sharestopurchase100%equityofShenzhenGrainGroupCo.,Ltd.heldbythecontrollingshareholderFudeCapital.OnNovember12,2018,theabove-mentionedissuedshareswereregisteredandlisted,andthecontrollingshareholderFudeCapital(nowrenamedinto“ShenzhenAgriculturalPowerGroupCo.,Ltd.”)directlyheld735,237,253A-sharesofthecompany(63.79%ofthetotalsharecapitalofthecompany),andindirectlyheld8.23%ofthecompany'ssharesthroughShenzhenAgriculturalProductsGroupCo.,Ltd. |
V.Otherrelevantinformation
CPAengagedbytheCompany
| NameofCPA | GrantThorntonCertifiedPublicAccountantLLP(SpecialGeneralPartnership) |
| Officesadd.ofCPA | 5thFloor,SaitePlaza,No.22JianguomenwaiStreet,ChaoyangDistrict,Beijing,China |
| Signingaccountants | GaoHong,ShuZhicheng |
SponsorengagedbytheCompanyforperformingcontinuoussupervisiondutiesinreportingperiod
□Applicable?NotapplicableFinancialconsultantengagedbytheCompanyforperformingcontinuoussupervisiondutiesinreportingperiod
□Applicable?Notapplicable
VI.Mainaccountingdataandfinancialindexes
Whetherthecompanyhasretroactiveadjustmentorre-statementonpreviousaccountingdataornot??Yes?NoReasonsforretrospectiveadjustmentsorrestatements
Businesscombinationsunderthesamecontrol
InRMB
| 2024 | 2023 | Changesinthecurrentyearoverthepreviousyear(+/-) | 2022 | |||
| Beforeadjustment | Afteradjustment | Afteradjustment | Beforeadjustment | Afteradjustment | ||
| Operatingrevenue(RMB) | 5,375,089,846.91 | 6,190,005,356.82 | 6,190,005,356.82 | -13.17% | 8,312,723,058.19 | 8,312,952,171.77 |
| NetprofitattributabletoshareholdersofthelistedCompany(RMB) | 325,309,578.52 | 347,824,733.68 | 347,739,109.06 | -6.45% | 420,764,671.03 | 420,465,392.11 |
| NetprofitattributabletoshareholdersofthelistedCompanyafterdeductingnon-recurringgains/losses(RMB) | 307,799,147.68 | 328,171,024.17 | 328,085,399.55 | -6.18% | 402,593,545.20 | 402,294,266.28 |
| Netcashflowarisingfromoperatingactivities(RMB) | -15,317,619.38 | 585,816,656.19 | 585,734,715.61 | -102.62% | 531,888,766.64 | 532,413,776.97 |
| Basicearningspershare(RMB/Share) | 0.2823 | 0.3018 | 0.3017 | -6.43% | 0.3649 | 0.3648 |
| Dilutedearningspershare(RMB/Share) | 0.2823 | 0.3018 | 0.3017 | -6.43% | 0.3649 | 0.3648 |
| WeightedaverageROE | 6.67% | 7.26% | 7.25% | -0.58% | 8.96% | 8.94% |
| Year-endof2024 | Year-endof2023 | Changesinthecurrentyearoverthepreviousyear(+/-) | Year-endof2022 | |||
| Beforeadjustment | Afteradjustment | Afteradjustment | Beforeadjustment | Afteradjustment | ||
| Totalassets(RMB) | 7,714,550,508.01 | 7,398,528,190.94 | 7,402,926,251.19 | 4.21% | 7,441,489,372.63 | 7,450,683,615.20 |
| Netassetsattributabletoshareholderoflistedcompany(RMB) | 4,919,674,142.82 | 4,824,452,103.84 | 4,828,491,503.39 | 1.89% | 4,763,122,059.40 | 4,767,188,755.69 |
Theloweroneofnetprofitbeforeandafterdeductingthenon-recurringgains/lossesinthelastthreefiscalyearsisnegative,andtheauditreportoflastyearshowsthattheabilitytocontinueoperatingisuncertain.
□Yes?NoTheloweroneofnetprofitbeforeandafterdeductingthenon-recurringgains/lossesisnegative.
□Yes?No
VII.DifferenceoftheaccountingdataunderaccountingrulesinandoutofChina
1.Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothIAS(InternationalAccountingStandards)andChineseGAAP(GenerallyAcceptedAccountingPrinciples)?Applicable□Notapplicable
InRMB
| Netprofit | Netasset | |||
| Currentamount | Lastamount | Endingbalance | Beginningbalance | |
| UnderChineseGAPP | 325,309,578.52 | 347,739,109.06 | 4,919,674,142.82 | 4,828,491,503.39 |
| ItemsandamountadjustedunderIAS | ||||
| 1,067,000.00 | 1,067,000.00 | |||
| UnderIAS | 325,309,578.52 | 347,739,109.06 | 4,920,741,142.82 | 4,829,558,503.39 |
2.Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothforeignaccountingrulesandChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable?NotapplicableTheCompanyhasnoabove-mentionedconditionoccurredintheperiod
3.Explanationonthereasonsforthedifferencesinaccountingdataunderdomesticandoverseasaccountingstandards
□Applicable?NotapplicableVIII.Mainfinancialindexdisclosedbyquarter
InRMB
| Q1 | Q2 | Q3 | Q4 | |
| Operatingrevenue | 1,072,962,661.16 | 2,416,452,919.61 | 1,385,664,850.01 | 500,009,416.13 |
| Netprofitattributabletoshareholdersofthelistedcompany | 63,895,624.77 | 129,030,850.78 | 115,531,458.13 | 16,851,644.84 |
| Netprofitattributabletoshareholdersofthelistedcompanyafterdeductingnon-recurringgains/losses | 52,190,357.81 | 116,892,371.77 | 109,897,377.98 | 28,819,040.12 |
| Netcashflowarisingfromoperatingactivities | 253,168,024.67 | -158,531,444.41 | 427,972,407.50 | -537,926,607.14 |
Aretheresignificantdifferencesbetweentheabove-mentionedfinancialindexoritstotalnumberandtherelevantfinancialindexdisclosedintheCompany’squarterlyreportandsemi-annualreport?
□Yes?No
IX.Itemsandamountsofnon-recurringgains/losses
?Applicable□Notapplicable
InRMB
| Item | 2024 | 2023 | 2022 | Note |
| Gains/lossesfromthedisposalofnon-currentasset(includingthewritten-offofaccruedimpairmentprovisionofassets) | 5,160,259.92 | 2,394,378.42 | -3,470,850.06 | |
| Governmentalsubsidiesreckonedintocurrentgains/losses(exceptforthosewithnormaloperationbusinessconcerned,andconformtothenationalpolicies®ulationsandareenjoyedaccordingtocertainstandard,andhavingacontinuousimpactonthecompany’sgains/losses) | 10,243,944.62 | 14,544,417.04 | 8,775,672.58 | |
| Gains/lossesarisingfromchangesinfairvalueoffinancialassetsandfinancialliabilitiesheldbynon-financialenterprises,aswellasgains/lossesfromthedisposaloffinancialassetsandfinancialliabilities,exceptforeffectivehedgingbusinessrelatedtothenormaloperationofthecompany. | 182,701.67 | 18,546.91 | ||
| Gains/lossesofassetsdelegationonothers’investmentormanagement | 4,518,517.76 | 6,622,492.60 | 8,455,442.20 | |
| Reversalofimpairmentprovisionofaccountsreceivablewhicharetreatedwithseparatedepreciationtest | 679,204.22 | 881,986.09 | ||
| Netcurrentgains/lossesfromthebusinesscombinationunderthesamecontrolintheperiodfromthebeginningoftheperiodtothedateofcombination | 92,048.86 | |||
| Othernon-operatingincomeandexpenditureexceptfortheaforementioneditems | 147,191.48 | 644,754.74 | 7,042,268.06 | |
| Othergains/lossesthatmeetthedefinitionofnon-recurringgains/losses | 2,890,749.95 | 1,064,111.79 | ||
| Less:impactonincometax | 5,545,407.55 | 5,027,939.98 | 4,583,525.90 | |
| Impactonminorityshareholders’equity(after-tax) | -3,125.80 | 386,299.20 | 12,525.84 | |
| Total | 17,510,430.84 | 19,653,709.51 | 18,171,125.83 | -- |
Othergains/lossesthatconformtothedefinitionofnon-recurringgains/losses:
□Applicable?NotapplicableTheCompanydoesnothaveothergains/lossesthatconformtothedefinitionofnon-recurringgains/losses.Informationonthedefinitionofnon-recurringgains/losseslistedintheQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---Non-recurringGains/LossesasRecurringGains/Losses
□Applicable?NotapplicableTheCompanydoesnothaveanynon-recurringgains/losseslistedintheQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---Non-recurringGains/LossesasRecurringGains/Losses.
SectionIIIManagementDiscussionandAnalysisI.IndustryoftheCompanyduringthereportingperiod
1.Basicinformationoftheindustry,developmentstage,cyclicalcharacteristics,andthecompany’spositionintheindustryIntheinternationalmarket,multiplefactors-includingamplesupply,weakdownstreamdemand,shiftsincost-performanceratiosamongdifferentgraintypes,andsluggishmarketsentiment-contributedtoadownturninglobalgrainprices.Themarketpricesofmajorcerealsdeclinedtovaryingdegrees.AccordingtodatafromtheChicagoBoardofTrade(CBOT)in2014,wheatpricesexperiencedadownwardfluctuation,fallingfrom629centsperbushelto551centsperbushelovertheyear,markingayear-on-yeardecreaseof12.4%;cornpricesdeclinedfrom686centsperbushelinJanuary2023to396centsperbushelinAugust2024-adropof42%-beforereboundingslightlyto458centsperbushelbyyear-end,down2.6%year-on-year;soybeanpricesfellsteadilythroughouttheyear,reachingtheirlowestlevelinnearlyfouryears,droppingfrom1,297centsperbushelto1,010centsperbushel,representinga22.2%year-on-yeardecline.Internationalricepricesalsoretreatedsteadilyfromthepeakatthebeginningoftheyear,withIndia’srelaxationofitsriceexportpolicyfurtheracceleratingthedecline.Bytheendoftheyear,exportpricesforwhitericefromThailand,Vietnam,andPakistanhaddroppedfromtheinitialrangeofUSD595–659pertonnetoUSD429-523pertonne,representingyear-on-yeardecreasesof20.6%,22.1%,and23.4%,respectively.
Onthedomesticfront,China’sgrainoutputreachedanewrecordhighin2024,surpassing700milliontonnesforthefirsttime.Despitethebumperharvest,pricesofmajorgrainvarietiescontinuedtodecline.Withampledomesticgrainsupplyandsluggishconsumptiongrowth,combinedwiththedownwardpressurefrominternationalgrainprices,purchasepricesforwheat,corn,andriceremainedrelativelystableinthefirsthalfoftheyearbutdroppedsignificantlyaftertheautumnharvestenteredthemarket.Tostabilizethemarket,thegovernmentimplementedaseriesofregulatorymeasures.Theminimumpurchasepricepolicyforricewasactivatedinfourmajorproducingprovinces-Henan,Jiangsu,Heilongjiang,andAnhui.ChinaGrainReservesGroup(Sinograin)expandeditsprocurementforwheatandcornreserves,whilewheatandcornimportswerecurtailedtoboostmarketconfidence.Nevertheless,overallgrainpricesremainedatrelativelylowlevels.Forrice,earlyandlateindicaricepurchasepricesremainedstableinthefirsthalfoftheyear.However,inthesecondhalf,earlyindicaricepricessawaslightdecline,whilelateindicaricepricesbegantofallinAugust.Forwheat,domesticpricescontinuedtheirdownwardtrendduetospillovereffectsfromtheinternationalmarket.BytheendofDecember,wheatpurchasepriceshaddroppedbelowRMB2,400pertonnetoRMB2,370pertonne,returningto2020levels-ayear-on-yeardeclineof16.7%.Forcorn,domesticpricesmirroredinternationaltrendsandbeganfallingsteadilyfromthesecondhalfof2023.BytheendofDecember,priceshadfallentoRMB1,931pertonne,down16.8%year-on-year,reachinglevelslastseeninthefirsthalfof2020.Forsoybeans,domesticpricesfollowedasimilartrajectorytoU.S.soybeanprices.BytheendofDecember,theaveragedomesticpricewasRMB4,031pertonne,ayear-on-yeardecreaseof20.5%.Forediblevegetableoils,marketperformancewasmixed.Rapeseedoilpricesedgedupwardthroughouttheyear,reachinganex-factorypriceofRMB9,411pertonnebytheendofDecember,ayear-on-yearincreaseof10.4%.Incontrast,soybeanoilpriceshoveredatlowlevels,withanex-factorypriceofRMB8,141pertonne,showinglittlechangeyear-on-year.Peanutoilpricesexperiencedadownwardtrend,withtheex-factorypricefallingtoRMB14,500pertonnebytheendofDecember,ayear-on-yeardecreaseof9.4%.
(Theabovecontentisfromthe“2024GrainandOilMarketReviewandFutureOutlook”releasedbytheGrainandMaterialReserveBureauofGuangdongProvince.)
2.Thesignificantimpactofnewlyreleasedlaws,administrativeregulations,departmentalrules,andindustrypoliciesonthe
industry
InFebruary2024,theCentralCommitteeoftheCommunistPartyofChinaandtheStateCouncilissuedtheOpinionsonDrawingLessonsfromthe“ThousandVillagesDemonstrationandTenThousandVillagesRenovation”ProjecttoEffectivelyAdvanceComprehensiveRuralRevitalization(hereinafterreferredtoastheOpinions).Thismarksthe12
th
No.1CentralDocumentsincethe18thNationalCongressoftheCommunistPartyofChina,reaffirmingthenation’stop-levelcommitmenttoaddressingissuesrelatedto“agriculture,ruralareas,andfarmers”.TheOpinionsplaceensuringnationalfoodsecurityattheforefrontofpolicypriorities,alongsidethebottom-linegoalofpreventinglarge-scalereoccurrenceofpoverty.Thedocumentcallsforthesolidadvancementofanewroundofinitiativestoincreasegrainproductioncapacityby50billionkilograms,withadualemphasisonstabilizingthesownareaandincreasingper-unityield.Itsetsacleartargetofmaintainingannualgrainoutputabove650milliontonnes(1.3trillionjin).Additionally,thedocumentadvocatescontinuedsupportforthedevelopmentofhigh-yield,high-oilsoybeanvarieties,thestabilizationofminimumpurchasepricesforkeystaplessuchaswheatandrice,andthepromotionofabroadperspectiveonagricultureandfoodsecurity.Toachievethesegoals,theOpinionsoutlineaseriesofconcretemeasures,including:
Ensuringtheproductionofgrainandotherkeyagriculturalproducts;strictlyenforcingfarmlandprotectionpolicies;enhancingagriculturalinfrastructure;strengtheningthesupportofagriculturalscienceandtechnology,andestablishingamodernagriculturalmanagementsystem.Insummary,the2024policydocumentreflectsthenation’sunwaveringemphasisonfoodsecurityandagriculturaldevelopment.ItunderscorestheimportanceofmaintainingandstrengtheningtheParty’scomprehensiveleadershipoverruralaffairs,aimingtobuildastrongagriculturalsector.Drawingonthesuccessfulexperienceofthe“ThousandVillagesDemonstrationandTenThousandVillagesRenovation”initiative,thestrategyprovidesaclearroadmapforstabilizingandboostingfoodproduction,therebysafeguardingChina’snationalfoodsecurity.
II.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-facedSpoonbil”ltea,rice,oil,drinkingwater,non-staplefoodandcondimentseries,etc.,andthelaunchofJinqiuteawinecontinuestoenrichtheproductstructure.
Theleasingandbusinessservicereferstoprovidingtheprofessionalimport&exporttrade,warehousing&storage,logistic&distribution,qualityinspection&informationtechnologyservices,propertyleasingandmanagement,businessoperationmanagementservicesforallkindsofclientsintheupstreamanddownstreamoftheindustrialchain,byusingtheadvantageofbrandreputation,operationservicecapacityandfacilitytechnologythataccumulatedinfieldofgrainandoilmarket.DongguanShenlianggainlogisticscomplexisacomprehensivegraindistributionservicebodyintegratingfivemajorfunctions:grain&oilterminal,transitreserve,testing&distribution,processing&productionandmarkettrading;ThesubsidiaryShenliangQualityInspectionwasawardedas“GuangdongShenzhenNationalGrainQualityMonitoringStation”.ThesubsidiaryShenliangColdChainprovidescoldchainoffoodstorageanddistributionservicestothecustomers,andShenliangPropertyisaprofessionalassetsmanagementplatformenterprise.
II.CoreCompetitivenessAnalysis
Thecompanyenhancestheendogenouspowerbydeepeningreform,strengthensthe“extensive”developmentbyinnovationcooperation,andcontinuouslyupgradesandtransformsthegovernancepattern,developmentquality,andguaranteeability,andhasembarkedonapathofsustainableandhigh-qualitydevelopmentthroughself-innovation,andbecomeahighlycompetitive,innovativeandinfluentialbackbonegrainenterpriseinthedomesticgrainindustry.
1.Operationmechanism
Thecoremanagementteamofthecompanyhasrichexperience,andhasastrongstrategicvisionandpragmaticspirit.CombinedwiththeactualdevelopmentoftheCompany,formulatedasetofeffectivemechanismstopromotethequalityandefficiencyofbusinessdevelopment.Thecompanyvigorouslypromotestheinnovationandtransformationofbusinessmodels,andactivelypromotesthetransitionfrom“trade-orientedenterprises”to“service-orientedenterprises”,andfrom“operationalmanagementandcontrol”to“strategicmanagementandcontrol”.Inbusinesscontrol,throughtheowninformationmanagementsystem,realizesaseamlesslinkbetweenthe“operation”and“planning,capital,qualityinspection,inventory,riskcontrolanddiscipline”toeffectivelyreducetheoperationalriskswhilefullyparticipatinginthemarketcompetition,andachievingadeepintegrationof“ensuringgrainsecurity”and“promotingdevelopment”.Throughdeeplypromotesthestrategyof“talentstrengtheningtheenterprises”,continuouslyinnovativetalenttrainingmechanismtocreatesahigh-qualitytalentsupplychain,thecompanyhasestablishedanopentalentteamtomeetthelong-termdevelopmentofenterprisesandreserveintelligencefortheenterpriseupgradinganddevelopment.Thecompanyhasinnovatedandimplementedtheperformanceappraisalmechanismandestablishedaresult-orientedincentiveandrestraintassessmentmechanismwhicheffectivelybuilttheperformancecultureandstimulatedtheviabilitywithintheenterprise.Thecompanyinsistsoncultivatingandadvocatingthecorporateculturewith“people-oriented,performancefirst,excellentquality,andharmony”asthecorevalues,combinesthepersonaldevelopmentgoalsofemployeeswiththecorporatevision,andenhancesthecohesivenessandcentripetalforceoftheenterprise.
2.Businessmodel
Thecompanydeeplyengagesinsegmentingthetargetmarket,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”,andhasopenedchannelsone-commerceplatformssuchasTmallandJingdongMallsoastopromotethedeepintegrationofonlineandofflinee-commerceplatforms.Intermsofgroupmealsupply,itssubsidiarySZCHBigKitchenhasestablishedaone-stopdistributionservice
platformservinglargeendcustomers,providinghigh-qualityandsafeoilandgrainservicesforgroupuserssuchasenterprises,schools,andgovernmentinstitutions.
3.Informationtechnology
Thecompanyattachesgreatimportancetothetransformationandupgradingoftraditionalindustrieswithmoderntechnologicalmeans,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&Dcapabilities
ThecompanyhasstrongR&Dcapabilitiesinthefieldoffoodandbeverage,andgathersleadingtechnologicaladvantagesandequipmentsystems.ThesubsidiaryShenbaoHuachengownstheJiangxiprovincialenterprisetechnologycenter,Shenzhenmunicipalresearchanddevelopmentcenter(technologycenter)andShenzhenplantdeepprocessingtechnologyengineeringlaboratoryandhaveobtainednationalhigh-techenterprisecertification.Andalsoownsanumberofpatentedtechnologiesforteapowder,teaconcentratedjuiceandplantextractionindependentlyresearchedanddeveloped,andpublisheddozensofscientificpapers.andwonanumberofawardssuchasScienceandTechnologyProgressAwardoftheMinistryofAgriculture,ShennongChineseAgriculturalScience&TechnologyAwardoftheChinesSocietyofAgriculture,Science&TechnologyAchievementAwardofChineseAcademyofAgriculturalSciences,ScienceandTechnologyAwardofChinaNationalLightIndustryCouncil,ZhejiangScienceandTechnologyAward,JiangxiScienceandTechnologyProgressAwardandShenzhenScience&TechnologyProgressAward,etc.,presidedoverorparticipatedinthepreparationofseveralnationalstandardsandindustrystandards.
5.Qualitycontrol
Thecompanyimplementsgrainandoilqualitystandardsthatarehigherthannationalstandards.ThesubordinateShenliangQualityInspectionhastheleadinggrainandoilqualityinspectiontechnologyandequipmentinthedomesticgrainindustry,andisincludedinthenationalgrainqualitysupervisionandinspectionsystem.Itwasawardedthe“GuangdongShenzhenNationalGrainQualityMonitoringStation”bytheStateAdministrationofGrainandobtainedtheassessmentcertificateofagriculturalproductqualityandsafetyinspectionagency(CATL)andthequalificationcertificateofinspectionagency(CMA)etc,andpassedthecertificationofanumberoftestingcapabilityitems.ShenliangQualityInspectionlistspesticideresidues,heavymetalpollutants,fungaltoxinsandotherhygieneindicatorsaswellasfoodtasteindicatorsinthedailyinspectionindicators.Ithastheabilitytodetectfourtypesofindicatorsofgenericquality,storagequality,foodsecurity&qualityandotherfourtypesofindicatorsoftestingcapacity.Thedetectioncapabilitycanmeettherelevantqualitydetectionrequirementsofgrainandoilproducts,andcanaccuratelyanalyzethenutritionalcompositionandhygienicindicatorsofthegrainanddetermineitsstorageandediblequality.Ithascreatedthe“digitallaboratory”inthegrainindustry,real-timemonitoringoftheentireprocessofcuttings,testing,distribution,etc.,relyingoncollaborativeplatformstosave,retrieve,integrate,analyzeandsharegrainandoiltestingdatatoachieve100%coverageofgrain&oilproductinspection.Hastheinternationallyrecognizedqualitycontrolsystem.ItssubsidiaryShenbaoHuachenghasestablishedaqualitycontrolsystemrecognizedbylargeinternationalfoodandbeveragecompanies,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”.IV.Mainbusinessanalysis
1.OverviewIn2024,amidthedownwardtrendinthegrainandoilmarket,sluggishconsumerdemand,andshiftsinpolicyenvironment,thecompanyfacedchallengeshead-onwithresilienceanddetermination.Throughproactiveeffortstoexpandrevenueandreducecosts,thecompanycontinuedtostrengthenitscorebusinesses,mademeaningfulprogressindevelopingnewbusinessareas,andacceleratedtheresolutionoflegacyissues-achievinghard-wonprogressthroughouttheyear.AsofDecember2024,thecompany’stotalassetsreached7.715billionyuan,withnetassetsattributabletoshareholdersofthelistedcompanystandingat4.92billionyuan.Itsasset-liabilityratiostoodatahealthy36.21%,positioningitamongthetopperformersintheindustry;thecompanyrecordedoperatingrevenueof5.375billionyuanandtotalprofitsof419yuanmillion,withkeyfinancialindicatorsrankingfavorablyamonglistedgrainenterprises.In2024,thecompanyreceivednumerousaccolades,includingbeingnamedoneofChina’sTop10GrainandOilGroups,winningtheFirstPrizeoftheScienceandTechnologyAwardfromtheChineseCerealsandOilsAssociation,andbeinglistedamongtheTop500EnterprisesinGuangdongProvince.ItwasalsorecognizedasaKeyLeadingAgriculturalEnterpriseinGuangdongandanOutstanding“DoubleHundredEnterprise”.Moreover,thecompanysuccessfullypassedthenationalon-siteverificationforemergencygrainsupplyenterprisesandwasapprovedtoparticipateinthedevelopmentoftheGreaterBayAreaGrainEmergencySupplyCenter.
(1)MainbusinessdevelopmentInresponsetopersistentlyweakdemandinthegrainandoilmarketin2024,thecompanyfocusedonidentifyingnew“profitdrivers”.First,itfulfilleditspoliticalresponsibilityofensuringregionalfoodsecurity,achievingrecord-highreservelevels.Despitechallengessuchassignificantpricevolatilityandheavystoragetasks,thecompanyoptimizeditswarehouselayoutandstoragestructure,completingitslargest-everricereserveinitiativewithhighqualityandefficiency,thusreinforcingitsreservefoundation.Second,thecompanyacceleratedtheconstructionofitsgrainandoilsupplychain,achievingnotableprogressinexpandingtradeoperations.Byrigorouslyimplementingthe“TenProhibitions”intradeactivities,thecompanyestablishedadedicatedtaskforcetocomprehensivelyreformitstradingsystem,buildinga“1+2+2”institutionalframework.Seniorexecutivesledeffortstoexpandthecustomerbase,whileoperatingunitsactivelyengagedthemarketanddeepenedcooperationwithleadingindustryplayersandpartnersacrossthevaluechain.
(2)Progressofkeyprojects
Keyprojectsareprogressingatafasterpace,continuouslyenhancingthecapacityofthegrain,oil,andfoodsupplychain.First,effortsarebeingmadetoensurethehigh-qualityconstructionandoperationoftheShenshanstoragefacility.Dedicatedpersonnel
havebeendispatchedtocloselycollaboratewiththeMunicipalDevelopmentandReformCommissiontodriveprojectdevelopmentandoperationalresearch.Atechnicalteamhasalsobeenassignedtoparticipateintheinstallationofelectromechanicalequipmentandconductstudiesonthefacility’soperationalmodel.Second,theconstructionofthegrainsupplybaseinNortheastChinaisbeingactivelypromoted.A49%minoritystakeintheShuangyashanhasbeenacquired,andtheautumngrainprocurementisbeingexpedited.Thenewgrainseasonhasalreadyseenthesuccessfulstorageofharvestedrice.Third,theDongguanlogisticshubisundergoingafunctionalupgrade.ExpansionandreconstructionworkonBerthNo.4,thebeltcorridor,andtheCDEwarehousecleaningandscreeningprojectarebeingpushedforward.Theseeffortshavehelpedgenerateover100millionyuanintransshipmentrevenue.Fourth,theconstructionoftheWuyuanSmartFactoryisprogressingsteadily.Anewmixingmachinehasbeeninstalled,storagecapacityforrawmaterialshasbeenexpanded,andinfrastructureinthetearoastingareahasbeenupgraded.Theseenhancementsareexpectedtofurtheroptimizeandimproveoverallproductioncapacity.
(3)Otherkeyworks
First,effortstoacceleratetechnologicalinnovationandfosternewdriversofhigh-qualitydevelopmenthavebeenintensified.ShenbaoHuachenghasparticipatedintheformulationoftwoindustrystandards,includingthoserelatedtoteaconcentrate,andjointlycompletedtheprojectKeyTechnologicalInnovationsandHigh-ValueApplicationsofBiocatalysisinTeaResources,whichwasawardedFirstPrizeattheProvincialScienceandTechnologyProgressAwards.Throughtechnologicalempowerment,thecompanyprocuresnearly10,000tonsoftealeavesannuallyfromtea-producingregions,contributingtoincreasedincomeandprosperityforlocalteafarmers.AqualityinspectioncompanyhasbeenrecognizedastheonlyinstitutioninGuangdongProvinceamongthefirstbatchofnationalgrainandoilstandardsverificationandtestingworkstations.Ithassuccessfullypassedthereassessmentbytheagriculturalproductqualityandsafetytestingauthorities,with311indicatorscertifiedunderCATLand682underCMA.Inaddition,thereleaseoftheTechnicalSpecificationsforEmergencyRiceReservePreservationinShenzhenhasfilledagapinthecity’slocalstandards.
Second,effortshavebeenintensifiedtostrengthenandstandardizecorporategovernance,withmultiplemeasuresimplementedtoadvancehigh-qualitydevelopment.RevisionsweremadetosystemssuchastheIndependentDirectorPolicyofSZCH,promotingtheimplementationofindependentdirectorsystemreforms.Thecompanyoptimizeditsorganizationalstructureandassessmentmodels,enhancedthecompensationandperformanceevaluationsystem,adjustedtheratiooffixedtovariablepaytoimprovemarketcompetitiveness,andenforcedamandatoryperformanceratingdistributionsystem.Financialmanagementefficiencycontinuedtobedemonstrated,withcentralizedfundmanagementeffectivelyreducingcostsandenhancingefficiencytothegreatestextentpossible.ContractmanagementwasfurtherstandardizedandimprovedthroughthecomprehensiverevisionoftheContractManagementPolicy,whichclarifiedapprovalauthoritiesandproceduresforvariousbusinessmattersandcontracttypes.Astandardizedcontractrepositorywassystematicallyenhanced,andriskcontrolwasstrengthenedacrossmultipledimensions,significantlyimprovingcontractreviewefficiency.Projectmanagementwasstrengthenedwiththelaunchofanengineeringprojectmanagementinformationsystem.Costcontrolmeasureswerereinforcedbyreviewingprojectcostsandsettingreasonablebidceilingprices,therebyreducingconstructionexpenses.Safetyproductionmanagementwasalsoenhancedthroughtheimplementationofthe“ThreeManagementsandThreeMusts”principle,reinforcingtheprimaryresponsibilityforworkplacesafetyandintensifyingsupervisionandinspectionefforts.Thecompanyformulatedandlaunchedthe2024FireSafetyComprehensiveRectificationActionPlanofSZCH,conductingthoroughinspectionsandrectificationsofgeneralhazards.Internalleanmanagementwaspromotedbyadvancingspecialinitiativestodefuserisksandmaintainsocialstability.Overall,thesituationinpetition-relatedworkremainedstable.
2.Operatingrevenueandcost
(1)Componentofoperatingrevenue
InRMB
| 2024 | 2023 | YoYIncrease/decrease(+/-) | |||
| Amount | Ratioinoperatingrevenue | Amount | Ratioinoperatingrevenue | ||
| Totaloperatingrevenue | 5,375,089,846.91 | 100% | 6,190,005,356.82 | 100% | -13.17% |
| Byindustries | |||||
| Wholesaleandretail | 3,547,023,210.68 | 65.99% | 4,466,378,701.20 | 72.15% | -20.58% |
| Leasingandbusinessservices | 1,029,137,510.95 | 19.15% | 967,047,827.95 | 15.62% | 6.42% |
| Manufacturing | 798,929,125.28 | 14.86% | 756,578,827.67 | 12.22% | 5.60% |
| Byproducts | |||||
| Grain&oiltradingandprocessing | 3,999,373,911.19 | 74.41% | 4,954,330,328.57 | 80.04% | -19.28% |
| Grain&oilstoragelogisticsandservices | 856,190,020.28 | 15.93% | 847,768,124.02 | 13.70% | 0.99% |
| Food,beverageandteaprocessing | 346,578,424.77 | 6.45% | 268,627,200.30 | 4.34% | 29.02% |
| Leasingandothers | 172,947,490.67 | 3.22% | 119,279,703.93 | 1.93% | 44.99% |
| Byregion | |||||
| Domesticmarket | 5,342,106,430.30 | 99.39% | 6,150,511,661.23 | 99.36% | -12.70% |
| Overseasmarket | 32,983,416.61 | 0.61% | 39,493,695.59 | 0.64% | -86.07% |
| Bysalemodel | |||||
| Directsale | 5,375,089,846.91 | 100.00% | 6,190,005,356.82 | 100.00% | -13.17% |
(2)Industries,products,regionsandsalesmodelthataccountformorethan10%oftheoperatingrevenueoroperatingprofitoftheCompany?Applicable□Notapplicable
InRMB
| Operatingrevenue | Operatingcost | Grossprofitratio | YoYincrease/decreaseofoperatingrevenue | YoYincrease/decreaseofoperatingcost | YoYincrease/decreaseofgrossprofitratio | |
| Byindustry | ||||||
| Wholesaleandretail | 3,547,023,210.68 | 3,439,103,716.33 | 3.04% | -20.58% | -18.86% | -2.06% |
| Byproducts | ||||||
| Grain&oiltradingandprocessing | 3,999,373,911.19 | 3,888,317,295.08 | 2.78% | -19.28% | -17.75% | -1.79% |
| Byregion | ||||||
| Domesticmarket | 5,342,106,430.30 | 4,456,647,718.46 | 16.58% | -13.14% | -14.28% | 1.11% |
| Bysalemodel | ||||||
| Directsale | 5,375,089,846.91 | 4,479,001,434.83 | 16.67% | -13.17% | -14.34% | 2.96% |
Intheeventthatthestatisticalcaliberofthecompany’smainbusinessdataisadjustedduringthereportingperiod,themainbusinessdataofthecompanyhasbeenadjustedaccordingtothecaliberattheendofthereportingperiodinthepastyear.?Applicable?Notapplicable
(3)Revenuefromphysicalsaleslargerthanrevenuefromlabors?Yes□No
| Industries | Item | Unit | 2024 | 2023 | YoYincrease/decrease(+/-) |
| Wholesaleandretail | Salesvolume | Ton | 1,397,429.10 | 1,577,925.32 | -11.44% |
| Output | Ton |
| Storage | Ton | 1,346,900.95 | 1,073,790.95 | 25.43% |
Reasonsfory-o-yrelevantdatawithover30%changes?Applicable?Notapplicable
(4)Performanceofsignificantsalescontractsandmajorprocurementcontractenteredintobythecompanyuptothecurrentreportingperiod?Applicable?Notapplicable
(5)ComponentofoperationcostClassificationofindustries
InRMB
| Industries | Item | 2024 | 2023 | YoYincrease/decrease(+/-) | ||
| Amount | Ratioinoperationcost | Amount | Ratioinoperationcost | |||
| Wholesaleandretailindustry | Rawmaterials | 3,439,103,716.33 | 76.78% | 4,238,501,198.60 | 81.06% | -18.86% |
ExplanationThemainbusinessincomeofthecompanyisfromgrainandoiltrade,andthecorrespondingcostexpenditureismainlytheprocurementcostofgrainandoiltrade.
(6)Whethertherearechangesinthescopeofconsolidationinreportingperiodornot??Yes□No
(7)MaterialchangesoradjustmentforproductsorservicesoftheCompanyinreportingperiod
□Applicable?Notapplicable
(8)MajorclientsandmainsuppliersMajorclientsoftheCompany
| Totalsalesvolumeoftopfiveclients(RMB) | 1,434,463,754.31 |
| Proportionintotalannualsalesvolumefortopfiveclients | 26.69% |
| Proportionintotalannualsalesvolumeforrelatedsalesamongtopfiveclients | 0.00% |
TopfiveclientsoftheCompany
| SN | Name | Salesvolume(RMB) | Proportionintotalannualsalesvolume |
| 1 | ClientI | 784,936,300.63 | 14.60% |
| 2 | ClientII | 188,289,697.83 | 3.50% |
| 3 | ClientIII | 166,970,723.08 | 3.11% |
| 4 | ClientIV | 155,093,808.85 | 2.89% |
| 5 | ClientV | 139,173,223.92 | 2.59% |
| Total | -- | 1,434,463,754.31 | 26.69% |
Otherexplanationonmainclients?Applicable?NotapplicableMainsuppliersoftheCompany
| Totalpurchaseamountfromtopfivesuppliers(RMB) | 1,568,093,186.67 |
| Proportionintotalannualpurchaseamountfortopfivesuppliers | 34.34% |
| Proportionintotalannualpurchaseamountfromrelatedpurchaseamongtopfivesuppliers | 0.00% |
TopfivesuppliersoftheCompany
| SN | Name | Sumofpurchaseamount(RMB) | Proportioninannualsumofpurchaseamount |
| 1 | SupplierI | 802,886,503.70 | 17.25% |
| 2 | SupplierII | 197,620,468.07 | 4.25% |
| 3 | SupplierIII | 213,657,805.21 | 4.59% |
| 4 | SupplierIV | 207,467,699.60 | 4.46% |
| 5 | SupplierV | 176,993,461.04 | 3.80% |
| Total | -- | 1,568,093,186.67 | 34.34% |
Otherexplanationonmainsuppliers?Applicable?Notapplicable
3.Expenses
InRMB
| 2024 | 2023 | YoYincrease/decrease(+/-) | Noteofmajorchanges | |
| Salesexpenses | 149,810,329.96 | 176,429,835.98 | -15.09% | Mainlyduetothedeclineintherevenuefromthegrainandoiltradingbusiness,andtheyear-on-yeardecreaseofrelatedsalesexpenses. |
| Administrationexpenses | 168,245,200.59 | 213,065,091.64 | -21.04% | Mainlyduetothedecreaseinsalaryexpenses |
| Financialexpenses | 32,678,246.41 | 40,062,827.89 | -18.43% | Mainlyduetothedecreaseintheaverageannualborrowingbalance.Atthesametime,themarketLoanPrimeRate(LPR)hasbeenloweredseveraltimes,thedecreaseininterestexpenses |
| R&Dexpenses | 25,208,644.43 | 20,045,364.68 | 25.76% | Mainlyduetotheincreaseinthecompany’sR&Dinvestment |
4.R&Dinvestment
?Applicable?Notapplicable
| Projects | Purpose | Progress | Goalstobeachieved | ExpectedimpactonthefuturedevelopmentoftheCompany |
| PhaseIIoftheReserveGrainandOilManagementPlatform(IdlePeriodManagementSystem) | Toenhancethedigitalsupervisionofreservegrainandoil,andtoeffectivelycoordinateandutilizeidleperiodswhilemanaginginventorylevelsonadailybasis. | Completed | Asystem-wideplatformfordataandinformationsharinghasbeenestablished,enablingone-clickreportgeneration,real-timedisplayofidleperiods,andvisualizationofwarehouseinformation.Thisservesasakeyinternaltoolformanagingreserves. | Theinitiativehassignificantlyimprovedthecompany’sdigitalcapabilitiesinreservemanagement,enhanceddataqualityandgovernance,andstrengthenedoversightofgrainandoilreserves. |
| DataMiddlePlatformProject | Tostrengthenthecompany’sdatagovernanceandregulatorycapabilitiesbyaddressingpainpointsstemmingfromalackofunifiedstandardsandcentralizedmanagement. | Completed | Focusedonbuildingafoundationalstructureforbusinessdatacollection,storage,governance,andclassification.Effortshavebeenmadetoenhancedataregulationandgovernance,layingthegroundworkforstandardizeddatamanagement. | Thedatamiddleplatformnowprovidesaunifieddatasourceforbusinessoperations,decision-making,andcustomeranalysis,therebysupportingfuturebusinessdevelopment,regulatorycompliance,andimprovedcustomerservice. |
| PerformanceEvaluationandScoringSystem | Byleveraginginformationtechnology,thecompanyhasdevelopedanefficient,scientific,anduser-friendlysystemforassessingperformanceacrossallheadquartersdepartmentsinacomprehensive,objective,andfairmanner. | Completed | Thesystemhasimprovedboththeefficiencyandaccuracyofperformanceevaluations,offeringvaluabledataanalysistosupportmanagement’sstrategicdecision-making.This,inturn,contributestosustainabledevelopmentbystrengtheninghumanresourcemanagement. | Theinitiativeenhancesthelevelofperformanceevaluation,boostsinternaloperationalefficiency,andsupportshigh-qualitydevelopmentthroughdigitalandintelligenthumanresourcesmanagement. |
| SmartGrainDepotConstructionProject | Tomeetregulatoryrequirementsforreservesupervisionandachieveseamlessaccessto“videosurveillance,”“grainconditionmonitoring,”and“dataintegration.” | Completed | SmartequipmentandsoftwarehavebeendeployedatdepotssuchasPingshanandShuguang,enablingautomatedcollectionofgrainconditions,videofootage,anddata.Thisallowsfortransparentandthoroughsupervisionofgrainandoilreserves. | Theprojecthasimprovedthecompany’scomplianceandstandardizationinreservemanagement. |
R&Dpersonnel
| 2024 | 2023 | Increase(+)/Decrease(-) | |
| NumberofR&Dpersonnel | 117 | 144 | -18.75% |
| RatioofnumberofR&Dpersonnel | 10.00% | 11.86% | -1.86% |
| Educationbackground | |||
| Undergraduate | 55 | 60 | -8.33% |
| Master | 34 | 33 | 3.03% |
| Agecomposition | |||
| Under30 | 41 | 34 | 20.59% |
| 30~40 | 42 | 65 | -35.38% |
R&Dinvestment
| 2024 | 2023 | Increase(+)/Decrease(-) | |
| R&Dinvestment(RMB) | 52,099,502.14 | 54,614,733.25 | -4.61% |
| RatioofR&Dinvestmentinoperatingrevenue | 0.97% | 0.88% | 0.09% |
| CapitalizationofR&Dinvestment(RMB) | 0.00 | 0.00 | 0.00% |
| RatioofcapitalizationofR&DinvestmentinR&Dinvestment | 0.00% | 0.00% | 0.00% |
DescriberreasonsforsignificantchangesincomponentoftheR&Dpersonnelandrelatedimpact
□Applicable?NotapplicableDescribereasonsforsignificantchangesinratioofR&Dinvestmentinoperationrevenuecomparedwiththatoflastyear
□Applicable?NotapplicableDescribereasonforthegreatchangeintheratioofcapitalizationofR&DinvestmentinR&Dinvestment.
□Applicable?Notapplicable
5.Cashflow
InRMB
| Item | 2024 | 2023 | YoYIncrease(+)/Decrease(-) |
| Subtotalofcashinflowfromoperationactivity | 6,009,744,381.86 | 6,705,117,606.34 | -10.37% |
| Subtotalofcashoutflowfromoperationactivity | 6,025,062,001.24 | 6,119,382,890.73 | -1.54% |
| Netcashflowarisingfromoperatingactivities | -15,317,619.38 | 585,734,715.61 | -102.62% |
| Subtotalofcashinflowfrominvestmentactivity | 442,392,843.77 | 1,575,902,755.32 | -71.93% |
| Subtotalofcashoutflowfrominvestmentactivity | 451,195,262.84 | 1,690,621,094.50 | -73.31% |
| Netcashflowfrominvestmentactivity | -8,802,419.07 | -114,718,339.18 | 92.33% |
| Subtotalofcashinflowfromfinancingactivity | 3,395,816,991.96 | 1,931,277,809.13 | 75.83% |
| Subtotalofcashoutflowfromfinancingactivity | 3,449,612,888.56 | 2,231,395,012.46 | 54.59% |
| Netcashflowarisingfromfinancingactivity | -53,795,896.60 | -300,117,203.33 | 82.08% |
| Netincreasedamountofcashandcashequivalent | -77,810,324.25 | 174,491,378.52 | -144.59% |
DescribereasonsformajorYoYchangesofrelevantdata?Applicable□Notapplicable
(1)Thecashinflowfromoperatingactivitiesincurrentperioddecreasedby10.37%YOY,mainlybecausetherevenuefromgrainandoiltradeofthecompanydecreased,resultinginadecreaseincashinflow,asthemarketdemandforoilandgrainwentdown;
(2)Thenetcashflowfromoperatingactivitiesincurrentperiodwasnegativecomparedwiththatpositiveinsameperiodlastyear,mainlycausedbytheweakeningdemandinthegrainandoilmarket,whichhasledtoadeclineinthecompany'sgrainandoiltradingrevenue.Besides,itwasduetotheincreaseinthecompany'sgrainandoilinventoryattheendoftheperiod.
(3)Thecashinflowfrominvestmentactivitiesincurrentperiodreducedby71.93%YOY,mainlyduetotheyear-on-yeardecreaseinthecompany'suseofidlefundstopurchasefinancialproducts/certificatesofdepositthisyear.Asaresult,theredemptionofmaturedfinancialproducts/certificatesofdepositreducedYOY,leadingtoareductionincashinflows.
(4)Thecashoutflowfrominvestingactivitiesincurrentperioddecreasedby73.31%YOY,mainlybecausetheidlefundsusedbythecompanytopurchasefinancialproducts/certificatesofdepositthisyearreducedYOY,resultinginareductionincashoutflows.
(5)Thecashinflowfromfinancingactivitiesinthecurrentperiodincreasedby75.83%YOY,mainlybecausethecompanyusedmorefundstoproceduregrainandoilandtheworkingcapitalloanswentup.
(6)Thecashoutflowfromfinancingactivitiesinthecurrentperiodincreasedby54.59%YOY,mainlybecausethecompanyincreaseditstemporaryworkingcapitalloans,resultinginanincreaseinthecorrespondingloanrepaymentexpenditures.Theincreaseratiowasconsistentwiththecashinflowfromfinancingactivities.
(7)Thenetincreaseincashandcashequivalentshasturnedfrompositivetonegativecomparedwiththatinthesameperiodlastyear,mainlyduetotheincreaseinthecompany'spaymentsforgrainandoilprocurement.DescribereasonsformajordifferencebetweenthecashflowarisingfromoperationactivityinreportingperiodandnetprofitoftheCompany
□Applicable?Notapplicable
V.Analysisofnon-mainbusiness
?Applicable□Notapplicable
InRMB
| Amount | Ratiointotalprofit | Descriptionofformation | Sustainableornot(Y/N)? | |
| Investmentincome | 3,416,742.97 | 0.81% | Mainlyfinancialmanagementincome | |
| Assetimpairment | -102,359,076.35 | -24.41% | Mainlyduetoinventoryfallprovision | |
| Non-operatingincome | 608,747.13 | 0.15% | ||
| Non-operatingexpense | 603,979.68 | 0.14% |
VI.Analysisofassetsandliabilities
1.Majorchangesofassetscomponent
InRMB
| Year-endof2024 | Year-beginof2024 | Ratiochanges | Notesofmajorchanges | |||
| Amount | Ratiointotalassets | Amount | Ratiointotalassets | |||
| Monetaryfund | 168,199,291.23 | 2.18% | 240,740,787.28 | 3.25% | -1.07% | Mainlypaymentbythecompanytopurchasegrainandoil |
| Accountreceivable | 235,789,565.91 | 3.06% | 179,828,493.98 | 2.43% | 0.63% | |
| Inventory | 4,044,998,642.52 | 52.43% | 3,458,443,989.04 | 46.72% | 5.71% | Mainlyduetotheincreaseininventoryofgrainandoil. |
| Investmentrealestate | 302,075,246.75 | 3.92% | 263,597,031.89 | 3.56% | 0.36% | |
| Long-termequityinvestment | 45,356,888.44 | 0.59% | 74,008,926.48 | 1.00% | -0.41% | |
| Fixedassets | 2,009,520,283.95 | 26.05% | 2,171,997,328.52 | 29.34% | -3.29% | Mainlyduetothetransferofsomefixedassetsleasedtoinvestmentproperties. |
| Constructioninprogress | 39,312,847.70 | 0.51% | 51,288,301.16 | 0.69% | -0.18% | |
| Right-of-useassets | 115,258,040.17 | 1.49% | 56,933,148.16 | 0.77% | 0.72% | |
| Short-termloans | 1,484,605,101.05 | 19.24% | 1,223,462,519.16 | 16.53% | 2.71% | Mainlyduetoincreaseinshort-termbankborrowingsthesatisfytheneedsofthe |
| companyforoperatingcapital | ||||||
| Contractliability | 126,590,458.95 | 1.64% | 86,566,253.73 | 1.17% | 0.47% | |
| Leaseliability | 78,084,500.76 | 1.01% | 37,744,951.74 | 0.51% | 0.50% |
Foreignassetsaccountforarelativelyhighproportion
□Applicable?Notapplicable
2.Assetsandliabilitiesmeasuredatfairvalue?Applicable?Notapplicable
3.Restrictedassetrightsasoftheendofthereportingperiod
Thedetailsofmonetaryfundswhicharerestrictedinuseduetomortgage,pledge,orfreezing,whicharerestrictedinwithdrawalduetocentralizedmanagementoffunds,aswellaswhicharedepositedoverseasandrestrictedinremittancebackareasfollows:
| Item | Endingbalanceincurrentperiod | Endingbalanceinlastperiod |
| Guaranteedeposit | 1,800,000.00 | |
| Letterofcreditdeposit | 3,245,714.29 | 691,708.31 |
| Litigationrelatedfreezing | 6,018,240.07 | 2,973,129.00 |
| Total | 9,263,954.36 | 5,464,837.31 |
VII.Investmentanalysis
1.Overallsituation?Applicable□Notapplicable
| Investmentinreportingperiod(RMB) | Investmentinthesameperiodoflastperiod(RMB) | Changes(+/-) |
| 98,127,483.25 | 80,361,097.00 | 22.11% |
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 | -- | 1,122,347.85 | 0.00 | 0.00 | 0.00 | 3,246,197.15 | 2,123,849.30 | 0.00 | -- | -- | ||
(2)Derivativeinvestment
□Applicable?NotapplicableTheCompanyhasnoderivativesinvestmentinthePeriod
5.Applicationofraisedproceeds
□Applicable?NotapplicableTherewasnouseofraisedfundsduringthereportingperiodofthecompany.
VIII.Salesofmajorassetsandequity
1.Salesofmajorassets
□Applicable?NotapplicableTheCompanyhadnosalesofmajorassetsinthereportingperiod.
2.Salesofmajorequity
□Applicable?Notapplicable
IX.Analysisofmainholdingcompany/stock-jointlycompanies
?Applicable□NotapplicableParticularaboutmainsubsidiariesandstock-jointlycompaniesnetprofitover10%
InRMB
| Companyname | Type | Mainbusiness | Registercapital | Totalassets | Netassets | Operatingrevenue | Operatingprofit | Netprofit |
| ShenzhenCerealsGroup | Subsidiary | Grain&oiltradingprocessi | 153,000,0000.00 | 7,034,025,779.20 | 2,999,570,153.98 | 4,857,830,822.61 | 290,237,727.36 | 194,195,618.46 |
| Co.,Ltd | ng,grainandoilreserveservice | |||||||
| ShenzhenHualianGrainandOilTradingCo.,Ltd. | Subsidiary | Grain&oiltrading | 300,000,000.00 | 1,241,378,439.25 | 174,502,485.89 | 1,316,282,505.75 | -41,636,223.07 | -45,261,401.04 |
| DongguanShenliangLogisticsCo.,Ltd. | Subsidiary | Grain&oiltradingprocessing,warehouse,andlogistics | 298,000,000.00 | 2,949,449,691.97 | 420,479,909.71 | 1,112,176,887.36 | 55,831,332.34 | 49,327,307.77 |
ParticularaboutsubsidiariesobtainedordisposedinreportingperiodApplicable?NotapplicableExplanationonmainholding/stock-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,totalassetsreached7,034,025,779.20yuan,andnetassetsamountedto2,999,570,153.98yuan,andshareholders’equityattributabletoparentcompanywas2,791,831,945.11yuan;inthereportingperiod,theoperationrevenue,netprofitandnetprofitattributabletoshareholderofparentcompanywere4,857,830,822.61yuan,194,195,618.46yuanand171,228,129.98yuanrespectively.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,totalassetsreached1,241,378,439.25yuan,andnetassetsamountedto174,502,485.89yuan,andshareholders’equityattributabletoparentcompanywas174,502,485.89yuan;inthereportingperiod,theoperationrevenue,netprofitandnetprofitattributabletoshareholderofparentcompanywere1,316,282,505.75yuan,negative45,261,401.04yuanandnegative44,920,120.22yuanrespectively.
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,totalassetsreached2,949,449,691.97yuan,andnetassetsamountedto420,479,909.71yuan,andshareholders’equityattributabletoparentcompanywas420,479,909.71yuan;inthereportingperiod,theoperationrevenue,netprofitandnetprofitattributabletoshareholderofparentcompanywere1,112,176,887.36yuan,49,327,307.77yuanand49,327,307.77yuanrespectively.
X.StructuredvehiclecontrolledbytheCompany
□Applicable?Notapplicable
XI.Prospectsonfuturedevelopment
1.DevelopmenttrendandcompetitionlayoutoftheindustryAtpresent,thedomesticgrainandoiltrade,processing,andlogisticsindustriesarefull-circulationsectors,withhighdegreeofmarketization,numerousparticipatingcompaniesandfiercecompetition.Centralenterprisesandlargelocalgrainenterpriseshaverelativelycompletewarehousingandlogisticsfacilities,andenjoyanumberofnationalpolicies;inrecentyears,alargenumberofoutstandingnationalandregionalprivategrainenterpriseshavecometothefore;withthedevelopmentofChina’sgrainmarketization,foreigngrainenterpriseshaveemergedinourcountry’sgrainmarket,andfurtherintensifiedthecompetitioninthegrainandoilindustrybyrelyingonabundantresources,strongfinancialstrengthandmaturemanagementexperience.ThegrainindustryinShenzhenisdevelopingvigorously,therearemanygrainandoilprocessingenterpriseswithacertainscaleandmanysmallandmedium-sizedenterprisesinthearea,withtheadvancementofthe“dual-zoneconstruction”,thepopulationofcitiesinthePearlRiverDeltahasincreased,andpeople’slivingstandardshaveimproved,thecompetitioninthefoodmarketisorderlyandunprecedentedlyfierce.
2.Thecompany’sdevelopmentstrategyDuringthe14
thFive-YearPlan,theCompanywillfocusonthemainbusinessofgrain,oilandfood,conformtothecountry’snewdevelopmentrequirementsforthegrainindustry,i.e.“agricultureheadandindustrytail”,“grainheadandfoodtail”,“threechainsintegration”,etc.,seizethemajorhistoricalopportunitiesofcurrentsignificanthistoricalopportunitiessuchastheconstructionoftheGuangdong-HongKong-MacaoGreaterBayAreaandtheconstructionoftheShenzhenPilotDemonstrationArea,andinnovatethedevelopmentstrategyof“onechain,twoparksandNplatforms”,tobuildaregionalleading“graineasternandsoutherncoastallogisticcorridor”with“high-qualitygrainsourcebase+regionalcomprehensivepark+urbandistributioncenter”andcreateanationalfirst-class“smartgrain,oilandfoodsupplychainqualityserviceproviders”.
3.Operationplanfortheyearof2025
In2025,SZCHwillearnestlyimplementtheguidingprinciplesofthe20thNationalCongressoftheCommunistPartyofChinaandtheThirdPlenarySessionofthe20thCPCCentralCommittee.Basedonthefunctionalpositioningofstate-ownedgrainenterprises,thecompanywillfocusonoperationaldevelopmentwhilefullycarryingoutitspoliticalresponsibilityforsafeguardingnationalfoodsecurityanditsdutytopreserveandenhancethevalueofstate-ownedassets.Thecompanywillprioritizethefollowingkeytasks:
First,itwillconsolidateitscorebusinessingrain,oil,andfoodbyimprovingthequalityandeffectivenessofreserveoperationsandsupplyassurancecapabilities,whilesteadilydevelopingthefoundationofgrainandoilstorageandtrade.Effortswillbemadetooptimizethesupplychainservicesystemandestablishahigh-performing,well-integrated,andhigh-qualityindustrialchain.Second,SZCHwillfocusonbothinternalandexternalcoordinationtocultivatenewdriversofbusinessgrowth.Thecompanywillfurthertapintothepotentialofitshigh-qualityassets,strengthenandspecializeitsteadeep-processingsegment,andrefinethetransformationofitsDongguanLogisticsoperations.Eachbusinessunitwillactivelyexplorediverseopportunitiestoexpandbusinessvolume;byleveragingexternalresourcesandcapitalizingonitsfoundationalstrengthsinthegrain,oil,andfoodsectors,thecompanyaimstoexpandintodiversifiedandhighvalue-addedbusinessareas.Third,thecompanywillacceleratethesystematicdevelopmentofitsbrandstrategy.Effortswillbemadetocoordinatethebrandmatrix,enhancebrandidentity,anddeepenbrandconnotation,withastrongfocusonelevatingbrandinfluence;thecompanywillalsoexpandend-marketchannels,cultivateflagshipproducts,andstrengthencompetitivenessandmarketpresence.
Fourth,thecompanywillremaincommittedtodeepeningreformsandunleashinginternalvitality.Itwillreinforcestrategicleadership,coordinateshort-termdevelopmentgoalswithlong-termstrategies,andenhancethesystemic,holistic,andsynergisticnatureofcorporatereforms;thecompanywillcontinuetoimproveitsperformanceevaluationsystemtoincreaseefficiencyanddriveinternalmotivation.
Fifth,thecompanywillcomprehensivelystrengthenriskpreventionandfirmlyupholdcompliancestandards.Thecompanywillfocusonbalancingreserveexpansionwithstoragecapacity,capitalflow,andmarketsupplyanddemand.Insupportofthereformofperformance-linkedcompensation,unifiedfinancialmanagementwillbeimplemented;itwillcontinuetoimproveitsinternalcontrolsystemandenhancelegalriskprevention;adual-preventionsystemforworkplacesafetyandfoodsafetywillbefurtherdeveloped,alongwithrobustpubliccommunicationandpetitionresponsemechanisms,toensureoverallsafetyandsocialstability;effortswillalsobemadetorevitalizeunderperformingexistingassets,deepenthereformofloss-makingsubsidiaries,andadvancethedisposalof“non-corebusinessesandnon-performingassets”,therebyunlockingmoreresourcesandpotentialtobetterfocusoncoreoperationsandcompetitivestrengths;thecompanywillalsocontinuetopromotestrategiccollaborationwithShenzhenAgriculturalPowerGroupinareassuchasindustrialintegration,businesssynergy,andchannelsharing,withthegoalofachievingmutualgrowthanddevelopment.
4.Potentialrisksandmitigationmeasures:
(1)Riskofpricefluctuationsingrainandoiltrading
OngoinggeopoliticaluncertaintiessuchastheRussia-Ukraineconflict,tensionsintheMiddleEast,extremeweatherevents,andinternationaltradedisputeshaveledtosignificantfluctuationsandstructuraldisparitiesingrainandoilpricesbothdomesticallyandinternationally.Theserisksmayimpactthecompany’sprofitabilityandcouldresultinfluctuationsinthevalueofinventories.
Tomitigatetheserisks,thecompanywillenhanceitsmarketforecastingcapabilities,establishstrategicpartnerships,implementrefinedprocurementandsalesmanagement,strengtheninternalcoordination,andoptimizeitsproductportfolioinatargetedmanner.Theseeffortsaimtoreducetheadverseimpactsofgrainandoilpricevolatilityonthecompany’soperations.
(2)Foodsafetyrisks
“Qualitysafety”isthelifelineforthesustainabledevelopmentofenterprises,andfoodsafetyisaninviolableredline.Regulatoryauthoritieshavepromulgatedaseriesofregulationsandsystemsfromtoptobottomtargetingfoodsafetyhazards,corporateresponsibilities,productionmanagementcompliance,qualitysafetyinspections,andriskmonitoringandcontrol,aimingtoimplementtherequirementsof“thefourstrictestsupervisionoffoodsafety”.Basedonthediversifieddevelopmentofcurrentproductcategoriesandbusinessformats,thecompanyhasissuedthe“SZCHFoodQualitySafetyManagementMeasures”,coveringgrainandnon-grainfoodcategoriesandtheirkeybusinessprocesses,toalignwiththeexistingcompany’sbusinessmodeland
diversifiedproductqualitymanagement.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,firstly,thecompanymakesoverallplansforannualprocurement,carefullyoptimizesprocurementchannels,andensuressufficientgrainsupplyandorderlysupply.Secondly,thecompanycontinuestostrengthencommunicationwithupstreamanddownstreamcustomersintheindustrychain,vigorouslyexpandssaleschannels,focusesoncustomerneeds,deepensbrandandservice,andenhancesthecompany'sbrandvalueandcompetitiveness.Thirdly,promotebrandbuilding,strengthenbrandcommunicationandcooperationwithintheindustry,explorehigh-qualitybrandelementresources,createunifiedbrandapplicationstandards,andgraduallyestablishbrandadvantages.
XII.Receptionofresearch,communicationandinterviewduringthereportingperiod
?Applicable□Notapplicable
| Receptiontime | Receptionplace | Receptionmode | Receptionobjecttype | ReceptionObject | Maincontenttalkedaboutandmaterialsprovided | Indexofbasicsituationofresearch |
| May8,2024 | OnlineValuewww.ir-online.cn | Networkplatformonlinecommunication | Other | Allinvestors | 2023annualperformancebriefing | Fordetails,pleaserefertothe“InvestorCommunicationRecordFormoftheCompany's2022AnnualPerformanceExplanationMeeting”disclosedonJuchaoWebsite(www.cninfo.com.cn)onMay8,2024 |
| November12,2024 | VIProomonthe13thfloorofthecompany | Spotinvestigation | Institution | EFundInvestment,CITICSecurities | Thecompany'sbusinessoperation,dividenddistribution,theimpactoffluctuationsingrainandoilpricesonthecompany'sperformance,andthecompany'scorrespondingcountermeasures,etc. | Fordetails,pleaserefertothe“CompanyInvestorRelationsActivityRecordForm”disclosedonJuchaoWebsite(www.cninfo.com.cn)onNovember12,2024 |
XIII.TheformulationandimplementationofthemarketcapitalizationmanagementsystemandvaluationenhancementplanWhetherthecompanyformulatedamarketcapitalizationmanagementsystemornot?
□Yes?NoWhetherthecompanydisclosedthevaluationenhancementplanornot?
□Yes?NoXIV.ImplementationoftheActionPlanfor“DoubleImprovementofQualityandReturn”WhetherthecompanydisclosedtheActionPlanfor“DoubleImprovementofQualityandReturn”ornot?
□Yes?No
SectionIVCorporateGovernanceI.CorporategovernanceoftheCompany
Duringthereportingperiod,theCompanyconstantlyimprovedthecorporategovernancestructure,improvedthequalityofcorporategovernance,andestablishedasoundinternalcontrolsystem,strictlyinaccordancewithcorporategovernancerequirementsofnormativedocumentsreleasedbytheCompanyLaw,SecuritiesLaw,CorporateGovernanceGuidelinesandStandardOperationalGuidelinestoMainBoardListedCompaniesofShenzhenStockExchange.TheCompanycontinuedtocarryoutthegovernanceactivities,improvedthestandardoperationlevel,andsafeguardedthelegitimateinterestsoftheCompanyandinvestors.AccountabilityamongShareholders’GeneralMeeting,theBoardofDirectorsandtheboardofsupervisorswereclear.WestrictlyimplementedtherulesfromtheArticlesofAssociationduringthereportingperiodaswellasworkregulationsandotherbasicmanagementsystemtoensuretheeffectiveimplementationoftheinternalcontrolsystem.
TheCompanyreceivednorelevantdocumentswithadministrativeregulationconcernedfromregulatoryauthoritiesinreportingperiod,andhasnoparticularaboutrectificationwithinatimelimit.FrompointoftheBoard,corporategovernanceoftheCompanyshowsnodifferencetorequirementfromrelevantdocumentswithactualcondition.
IsthereanydifferencebetweentheactualconditionofcorporategovernanceandrelevantregulationsaboutcorporategovernanceforlistedCompanyfromCSRC?
□Yes?NoTherearenodifferencesbetweentheactualconditionofcorporategovernanceandrelevantregulationsaboutcorporategovernanceforlistedCompanyfromCSRC.
II.IndependenceoftheCompanyrelativetocontrollingshareholderandtheactualcontrollerinensuringtheCompany’sassets,personnel,finance,organizationandbusinesses
Bytheendofthereportingperiod,ShenzhenAgriculturalPowerGroupistheactualcontrolleroftheCompany.TheCompany,instrictaccordancewiththegovernancerulesoflistedcompaniesandotherrelevantprovisions,completelyseparatesfromthecontrollingshareholdersinbusiness,finance,personnel,assets,organizations,andhasindependentfullbusinessandself-managementability.
1.IndependentBusiness:
ThebusinessoftheCompanyisindependentfromcontrollingshareholdersandhascompletebusinessandself-managementability,andisnotdependentontheshareholdersandtheiraffiliatedenterprises,whichhasnocompetitionwithcontrollingshareholderanditssubordinateenterprises.ThecontrollingshareholderhasnodirectorindirectinterventionintheCompanybusinessactivities.
2.IndependentStaff:
TheCompanyhasspecialorganizationtomanagelaborandpayment,andhasindependentperfectpersonnelsystemandcollectivemanagementsystem.GeneralManageroftheCompanyaswellasdeputyGM,secretaryoftheBoard,CFOandotherseniorexecutivesreceiveremunerationfromtheCompany,anddon’treceiveremunerationfromshareholders’unitandsubordinateenterprisesandholdingthepostexceptdirectororsupervisor.
3.IndependentAssets:
TheCompanyhasindependentandintegrityassetstructure;Thereisnosituationwherefundsorassetsofthecompanyareoccupied
bycontrollingshareholdersfornon-operationalpurposes.
4.IndependentOrganization:
TheCompanyhassetupasoundorganizationalstructuresystemandoperatesindependently;thereisnomixedoperationbetweentheCompanyandcontrollingshareholders.
5.FinancialIndependence:
TheCompany,withindependentfinancialdepartment,hassetupindependentaccountingsystemandfinancialmanagementsystemandmakesfinancialdecisionindependently.Withindependentbankaccounts,andtaxpayment,theCompanystrictlyfollowsthefinancialsystemandhasindependentoperationandstandardizedmanagement.III.HorizontalCompetition
□Applicable?Notapplicable
IV.Annualshareholders’generalmeetingandextraordinaryshareholders’generalmeetingheldduringthereportingperiod
1.AnnualGeneralMeetinginthereportingperiod
| Ordinalnumberofmeetings | Type | Ratioofinvestorparticipation | Date | Dateofdisclosure | Resolutions |
| The1stextraordinarygeneralmeetingofshareholdersof2024 | Extraordinarygeneralmeetingofshareholders | 72.13% | 2024-01-09 | 2024-01-10 | Resolutionsofthe1stExtraordinaryGeneralMeetingofShareholdersof2024(NoticeNo.2024-02)disclosedonJuchaoWebsite(www.cninfo.com.cn)onJanuary10,2024 |
| AnnualGeneralMeetingof2023 | AGM | 72.14% | 2024-05-07 | 2024-05-08 | ResolutionsoftheAnnualGeneralMeetingof2023(NoticeNo.2024-15)disclosedonJuchaoWebsite(www.cninfo.com.cn)onMay8,2024 |
| The2ndextraordinarygeneralmeetingofshareholdersof2024 | Extraordinarygeneralmeetingofshareholders | 72.27% | 2024-11-14 | 2024-11-15 | Resolutionsofthe2ndExtraordinaryGeneralMeetingofShareholdersof2024(NoticeNo.2024-26)disclosedonJuchaoWebsite(www.cninfo.com.cn)onNovember15,2024 |
2.Requestforextraordinarygeneralmeetingbypreferredstockholderswhosevotingrightsarerestored
□Applicable?Notapplicable
V.Directors,supervisorsandseniorexecutives
1.Basicinformation
| Name | Gender | Age | Title | Workingstatus | Startdatedofofficeterm | Enddateofofficeterm | Sharesheldatperiod-begin(share) | Numberofsharesincreasedincurrentperiod(share) | Numberofsharesdecreasedincurrentperiod(share) | Otherchanges(share) | Sharesheldatperiod-end(share) | Reasonsforincreaseordecreaseofshares |
| WangZhikai | Male | 53 | PartySecretary,ChairmanofBOD | Currentlyinoffice | 2023-11-03 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| GuCheng | Male | 51 | Director | Currentlyinoffice | 2023-11-03 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| ZhangGuoyuan | Male | 51 | Director | Currentlyinoffice | 2023-11-03 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| ZhengXiangpeng | Male | 49 | DeputyPartySecretary,Director | Currentlyinoffice | 2023-11-03 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| LuYuhe | Female | 47 | Director,CFO | Currentlyinoffice | 2021-08-02 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| ZhaoRubing | Male | 68 | Independentdirector | Currentlyinoffice | 2019-02-21 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| BiWeimin | Female | 68 | Independentdirector | Currentlyinoffice | 2019-02-21 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| LiuHaifeng | Male | 53 | Independentdirector | Currentlyinoffice | 2019-02-21 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| YouHongxia | Female | 53 | Supervisor | Currentlyinoffice | 2023-11-03 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| LiuXinqing | Female | 52 | Supervisor | Currentlyinoffice | 2023-11-03 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| ZhengShengqiao | Male | 57 | DeputyPartySecretary,employeesupervisor | Currentlyinoffice | 2019-02-21 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| MaZenghai | Male | 60 | Employeesupervisor | Currentlyinoffice | 2019-02-21 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| ChenXiaohua | Male | 58 | MemberofthePartyCommittee,DeputyGM,andSecretaryoftheBoardofDirectors | Currentlyinoffice | 2020-08-24 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| ShenHua | Male | 49 | MemberofthePartyCommittee,DeputyGM | Currentlyinoffice | 2023-11-03 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| XiaoHui | Male | 46 | MemberofthePartyCommittee,DeputyGM | Currentlyinoffice | 2020-02-28 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| DuJianguo | Male | 51 | MemberofthePartyCommittee,DeputyGM | Currentlyinoffice | 2023-11-03 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| HuXianghai | Male | 60 | DeputyPartySecretary,Director,GM | Leavingoffice | 2019-02-21 | 2024-11-27 | 0 | 0 | 0 | 0 | 0 | - |
| Total | -- | -- | -- | -- | -- | -- | 0 | 0 | 0 | 0 | 0 | -- |
Duringthereportingperiod,whetherthereisanydepartureofdirectorsandsupervisorsanddismissalofseniorexecutivesornot??Yes□No
1.OnNovember17,2024,theboardofdirectorsofthecompanyreceivedawrittenresignationreportsubmittedbyMr.HuXianghai,thedeputysecretaryofthecompany'sPartycommittee,director,andGM.Duetoreachingthelegalretirementage,Mr.HuXianghaiappliedtoresignfromthepositionsofdirectorandGMofthecompany,andwillnolongerholdanyotherpositionsinthecompanyafterresignation.
Changesofdirectors,supervisorsandseniorexecutives?Applicable□Notapplicable
| Name | Title | Type | Date | Reason |
| HuXianghai | Director | Resigned | 2024-11-17 | Retire |
| HuXianghai | GM | Dismissed | 2024-11-17 | Retire |
2.Post-holding
Professionalbackground,majorworkingexperienceandpresentmainresponsibilitiesinCompanyofdirectors,supervisorsandseniorexecutive(i)DirectorMr.WangZhikai:Bornin1971,holdsamaster’sdegree.FormerlyservedasdeputydirectoranddirectoroftheEnterpriseSecondDivisionoftheState-ownedAssetsSupervisionandAdministrationCommissionoftheShenzhenMunicipalPeople’sGovernment,andDirectoroftheStrategicDevelopmentDivision;deputyGMandPartyCommitteeMemberofShenzhenTalentAnjuGroupCo.,Ltd.HeiscurrentlymemberofthePartyCommitteeofShenzhenAgriculturalPowerGroupCo.,Ltd,thesecretaryofthecompany'sPartyCommitteeandChairman.Mr.GuCheng:Bornin1973,holdamaster’sdegree.HeformerlyservedastheSecretaryoftheYouthLeagueCommitteeoftheEducationBureauofLonggangDistrict,Shenzhen;thedirectoranddeputydirectoroftheOfficeoftheShenzhenFederationofTradeUnions,ministerofLegalWork,ministerofGrassrootsOrganizationConstruction,MinisterofGrassrootsOrganizationConstructionandEconomicWork,memberofthePartyGroupandvicechairmanoftheShenzhenFederationofTradeUnions;memberofthePartyWorkingCommitteeofShenzhen’sTwoNewOrganizations;andmembersoftheShenzhenMunicipalCommitteeoftheChinesePeople’sPoliticalConsultativeConferenceandotherpositions.Now,heisthedeputysecretaryofthePartyCommitteeanddirectorofShenzhenAgriculturalPowerGroupCo.,Ltd;supervisorofShenzhenAgriculturalProductsGroupCo.,Ltd;anddirectorofthecompany.Mr.ZhangGuoyuan:Bornin1973,holdsamaster’sdegree.HepreviouslyservedasacadreofShenzhenSpecialZoneDevelopmentCompany;employeeofShenzhenYantianDistrictInvestmentServiceCenter;memberoftheInvestmentPromotionDepartmentanddeputydirectoroftheOfficeoftheYantianDistrictEconomicandTradeBureauinShenzhen;deputychiefstaffmemberandchiefstaffmemberoftheSupervisionandInspectionDepartmentofShenzhenState-ownedAssetsSupervisionandAdministrationCommission;directoroftheSupervisionandInspectionDepartmentofShenzhenState-ownedAssetsSupervisionandAdministrationBureau;Director,DeputyDirector,andDirectoroftheSupervisionandInspectionDepartmentoftheStateownedAssetsSupervisionandAdministrationCommissionoftheShenzhenMunicipalPeople’sGovernment;DirectorofthePropertyRightsManagementandRegulationsDepartmentoftheStateownedAssetsSupervisionandAdministrationCommissionoftheShenzhenMunicipalPeople’sGovernment.HeiscurrentlymemberofthePartyCommitteeanddeputyGMofShenzhenAgriculturalPowerGroupCo.,Ltdanddirectorofthecompany.Mr.ZhengXiangpeng:Bornin1975,holdsabachelor’sdegreeandisaseniorjournalist.HeformerlyservedasaneditorandjournalistforShenzhenSpecialZoneDaily,deputydirectorofthePoliticalNewsDepartment(incurrentperiod,hewasappointedasamemberoftheLonggangStreetPartyWorkingCommitteeandDeputyDirectoroftheOffice),deputydirectoranddirectoroftheRegionalNewsDepartment,andmemberofShenzhenSpecialZoneDailyEditorialCommittee;assistanttothePresidentofShenzhenPressGroup,directoroftheOfficeofShenzhenPressGroup,andchairmanofShenzhenPressEducationMediaGroup;deputysecretaryofthePartyCommittee,director,andchairmanoftheTradeUnionofShenzhenFoodMaterialsGroupCo.,Ltd.Heiscurrentdeputysecretaryanddirectorofthecompany’sPartyCommittee.Ms.LuYuhe:bornin1977,master’sdegreeandCPA.ShepreviouslyworkedastheseniorauditorofErnst&Young;theindependentnon-executivedirector,DirectorandCFOofChinaTrendsHoldingsLimited;CFOofVIEIN;DirectorandCFOofthe
ShenzhenExhibition&ConventionCenterManagementCo.,Ltd.,theDirectorandCFOofShenzhenTongChanGroupandCFOofShenzhenYinhuConventionCenter(Hotel)Co.,Ltd.NowsheistheDirectorandCFOoftheCompany.Mr.ZhaoRubin:bornin1956,master’sdegreeandprofessorofengineering.HesuccessivelyservedasthedirectorandsecretaryofGezhoubaStationforEHVDCtransmissionfromGezhoubatoShanghai;directorofofficeanddirectorofforeignaffairsofficeofGezhoubaHydro-powerPlant;thesecretaryofpartygroupandGMofHuanengSouthDevelopmentCompany;partysecretaryandGMofHuanengRealEstateDevelopmentCompany;Director,deputypresident,deputypartysecretaryofGreatWallSecurities;presidentofJingshunGreatWallFundManagementCo.,Ltd.;deputypresidentofSunshineInsuranceAssetsManagementCorporationLimited;theoutsidedirectorofShenzhenCerealsGroupCo.,Ltd;independentdirectorofBrosEasternCo.,Ltd.NowheservesasindependentdirectoroftheCompany;independentdirectorofSouthwestSecuritiesCo.,LtdandDirectorofBoseraFundManagementCo.,Ltd.Ms.BiWeimin:bornin1956,doctor’sdegree,andasenioraccountant.ShesuccessivelyservedasengineeroftheGezhoubaPowerPlant,assistantdirectoranddeputydirector;deputypresidentanddirectorofThreeGorgesFinanceCompany;chiefeconomistandsupervisorofChinaYangtzePowerCo.,Ltd.;deputychiefaccountantofChinaThreeGorgesCorporation,thememberofinvestmentcommitteeanddirectorofassetfinancedept.Aswellasthedirectorofenterprisemanagementdeptandlegalaffairsdepartment.NowsheservesastheindependentdirectoroftheCompany.Mr.LiuHaifeng:bornin1971,doctor’degreeandalawyer.HesuccessivelyservedasdirectoroflegaldepartmentofShenzhenPropertyDevelopment(Group);thepartnerofGuangdongXintongLawsFirm.NowheservesasindependentdirectoroftheCompanyandtheindependentdirectorofShenzhenSpecialEconomicZoneRealEstate(Group)Co.,Ltdandfirst-levelpartnerofGuangdongHanchengLawsFirm.(ii)SupervisorMs.YouHongxia:Bornin1971,holdsamaster’sdegreeandisasenioraccountantandregisteredaccountant.HeformerlyservedasamemberoftheBiotechnologyDepartmentoftheBuildingMaterialsBureauofExiPrefecture,andwasappointedasanassistanttothedistrictchiefofHuangjindongDistrictinXianfeng,lecturerattheDepartmentofBusinessandEconomics,SchoolofEconomicsandTrade,HuazhongAgriculturalUniversity,financialmanagerofShenzhenShenbaoIndustrialCo.,Ltd.,secretaryoftheGM’sOffice,assistanttotheMinisterofFinanceandAccounting,andassistanttotheMinisterofHumanResources;assistanttotheMinisterofFinanceofShenzhenShenbaoSanjingFoodandBeverageDevelopmentCo.,Ltd,assistantdirectoroftheOfficeoftheBoardofDirectorsofShenzhenShenbaoIndustrialCo.,Ltd;accounting,deputydirectorofAuditDepartment,directorofRiskControlOffice,directorofRiskControlDepartmentofFinanceandInformationCenter,directorofRiskControlDepartmentofAuditRiskControlCenter,andDeputyGeneralManagerofAuditRiskControlCenterofShenzhenAgriculturalProductsCo.,Ltd;deputyGM(inchargeofwork)andGMoftheAuditRiskManagementHeadquartersofShenzhenAgriculturalProductsGroupCo.,Ltd.SheiscurrentGMoftheAuditRiskControlDepartmentofShenzhenAgriculturalPowerGroupCo.,LtdandthesupervisoroftheCompany.Ms.LiuXinqing:Bornin1972,holdsabachelor’sdegreeandisaregisteredmanagementaccountant.ShehaspreviouslyservedasanaccountantofShantouSpecialEconomicZoneForeignCommercialCorporation,theemployee,accountant,cashierinchargeofthefinanceandaccountingdepartment,chiefclerk,assistanttothedepartmenthead,seniormanager,deputydirectorofthefundsettlementandoperationcenter,deputydirectorofthefinanceandaccountingdepartment,deputygeneralmanagerandheadofthefundoperationdepartmentofthefinanceandinformationcenter,headofthefundoperationdepartmentofthefinancecenter,anddeputygeneralmanagerofthefinancecenterofShenzhenAgriculturalProductsCo.,Ltd.,GMofShenzhenAgriculturalProductsSmallLoanCo.,Ltd,deputyGMoftheFinancialManagementHeadquarters(FundManagementCenter)ofShenzhenAgriculturalProductsGroupCo.,Ltd,GMofShenzhenAgriculturalProductsFinancingGuaranteeCo.,Ltd,GMoftheFinancialManagementHeadquarters(FundManagementCenter)ofShenzhenAgriculturalProductsGroupCo.,Ltd.SheiscurrentlyGMofthePlanningandFinanceDepartmentofShenzhenAgriculturalPowerGroupCo.,LtdandthesupervisoroftheCompany.
Mr.ZhengShengqiao,bornin1967,holdsabachelordegreeandanintermediateaccountant.HesuccessivelyservedasmemberofthespecialrepresentativeofficeofthestateauditadministrationinGuangzhou;deputymanagerofaccountingdepartmentofHongKongYuehaiEnterprise(Group)Co.,Ltd;deputyGMofCTSLogistics;CFOoftheAVSHDTechnologyCo.,Ltd;thedeputydirectoroffinancedepartment,deputydirectorofenterprisemanagementdepartment,directorofboardoffice,deputysecretaryofdisciplineinspectioncommission,secretaryoftheBOSanddirectorofdisciplineinspectionandsupervisionoffice(officeofBOS)oftheShenzhenCerealsGroupCo.,Ltd.Nowheservesasthestaffsupervisor,deputysecretaryofdisciplineinspectioncommissionanddirectorofdisciplineinspectionandsupervisionoffice(officeofBOS)oftheCompany.Mr.MaZenghai:bornin1964,master’sdegreeandanintermediateeconomist,lecturer.HesuccessivelyservedasthegeneralrepresentativeofThailandprojectinShenzhenCerealsGroupCo.,Ltd;presidentandGMofShenzhenHualianGrain&OilTradeCo.,ltd.;GMandsecretaryofthePartybranchofGreasebranchofShenzhenCerealsGroupCo.,Ltd;headoftheriskmanagementdepartmentofShenzhenCerealsGroupCo.,Ltd.Nowheservesasstaffsupervisorandheadoftheriskmanagementandinternalauditdepartmentofthecompany.(iii)SeniorexecutivesMr.ChenXiaohua,bornin1966,holdsamaster’sdegreeandisaneconomicmanager.Heservedsuccessivelyaschiefofthesecretarialsection,deputydirectoranddirectoroftheofficeoftheboardofdirectors,andsecretaryoftheboard,director,andvicepresidentofShenzhenAgriculturalProductsGroupCo.,Ltd.,concurrentlyservedaschairmanofGuangxiHigreenInternationalLogisticsCo.,Ltd.,chairmanofTianjinHigreenAgriculturalProductsMarketManagementCo.,Ltd.,andchairmanofTianjinHigreenAgriculturalProductsLogisticsCo.,Ltd.Hecurrentlyservesasthememberofpartycommittee,deputygeneralmanagerandsecretaryoftheboardofthecompany.Mr.ShenHua:Bornin1975,holdsmaster’sdegreeandisaneconomist.HehasformerlyservedasthedeputymanageroftheManagementDepartmentofShenzhenBujiAgriculturalProductsWholesaleCenter,deputyGM,GMandChairmanofNanchangShenzhenAgriculturalProductsWholesaleMarketCo.,Ltd.,anddeputyGMofShenzhenAgriculturalProductsGroupCo.,Ltd.HecurrentlyservesasmemberofthepartycommitteeanddeputyGMoftheCompany.Mr.XiaoHui,bornin1978,holdsamaster’sdegreeandisamasteroffinanceandamasterofbusinessadministration.HeservedasastaffmemberofthePersonnelandEducationDepartment,andastaffmember,adeputychiefstaffmember,achiefstaffmember,deputydirector,anddirectoroftheGeneralOfficeofthePeople'sBankofChina;andthedeputyheadoftheNanshanDistrictPeople’sGovernment.HecurrentlyservesasthememberofpartycommitteeanddeputyGMofthecompany.Mr.DuJianguo:Bornin1973,holdsamaster’sdegreeandaneconomist.HehasformerlyservedasaclerkintheComprehensiveControlDepartmentofQingdaoPriceBureau.deputydirectoroftheGM'sOfficeofShenzhenAgriculturalProductsCo.,Ltd,chairmanofChangshaMawangduiAgriculturalProductsCo.,Ltd,directoroftheGM’sOfficeanddirectoroftheTransportationDepartmentofShenzhenAgriculturalProductsCo.,Ltd,chairmanofShenzhenZhongnongAquaticProductsCo.,Ltd.andChairmanofShenzhenBujiSeafoodMarketCo.,Ltd,investmentdirectoroftheInvestmentDepartmentofShenzhenCerealsGroupCo.,Ltd;MinisterofInvestmentDepartmentandSecretaryoftheBoardofDirectorsofShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd.,ChairmanofDongguanShengliangLogisticsCo.,Ltd;MemberofthePartyCommittee,DeputyGeneralManager,andChairmanofShenzhenZhenchuSupplyChainCo.,Ltd.ofShenzhenFoodMaterialsGroupCo.,Ltd.Currentmemberofthecompany'spartycommitteeanddeputygeneralmanager.Post-holdinginshareholdingentities?Applicable□Notapplicable
| Name | Nameofshareholdingentities | Positionsheldinshareholderunits | Startdatedofofficeterm | Enddateofofficeterm | Whetherreceivingremunerationfromshareholdingentities(Y/N)? |
| WangZhikai | ShenzhenAgriculturalPowerGroupCo.,Ltd. | MemberofthePartyCommittee | 2023-09-01 | N | |
| GuCheng | ShenzhenAgriculturalPowerGroupCo.,Ltd. | DeputySecretaryofthePartyCommittee,Director | 2022-09-01 | Y | |
| GuCheng | ShenzhenAgriculturalProductsGroupCo.,Ltd | Supervisor | 2023-01-17 | N | |
| ZhangGuoyuan | ShenzhenAgriculturalPowerGroupCo.,Ltd. | MemberofthePartyCommittee,DeputyGM | 2023-08-01 | Y | |
| YouHongxia | ShenzhenAgriculturalPowerGroupCo.,Ltd. | GeneralManagerofAuditandRiskControlDepartment | 2023-10-01 | Y | |
| LiuXinqing | ShenzhenAgriculturalPowerGroupCo.,Ltd. | GeneralManagerofPlanningandFinanceDepartment | 2023-10-01 | Y | |
| Explanationofemploymentinshareholderunits | NO | ||||
Post-holdinginotherentities?Applicable□Notapplicable
| Name | Nameofotherentities | Position | Startdatedofofficeterm | Enddateofofficeterm | Whetherreceivingremunerationfromotherentities(Y/N)? |
| ZhaoRubing | BoseraFundManagementCo.,Ltd. | Independentdirector | 2017-12-01 | 2024-09-21 | Y |
| LiuHaifeng | GuangdongHanchengLawsFirm | First-levelpartner | 2007-02-01 | Y | |
| LiuHaifeng | ShenzhenSpecialEconomicZoneRealEstate(Group)Co.,Ltd. | Independentdirector | 2024-05-17 | Y |
PunishmentofsecuritiesregulatoryauthoritiesinrecentthreeyearstotheCompany’scurrentandformerdirectors,supervisorsandseniorexecutivesduringthereportingperiod
□Applicable?Notapplicable
3.Remunerationfordirectors,supervisorsandseniorexecutives
Decision-makingprocedures,determinationbasesandactualpaymentofremunerationsofdirectors,supervisorsandseniorexecutivesDuringthereportingperiod,accordingtotheCompanyPerformanceManagementMeasures,theremunerationandappraisalcommitteeoftheCompany’sboardofdirectorscombinedwiththeCompany’sannualbusinesssituationandindividualperformanceappraisalresultanddeterminedthesalaryofseniorexecutives.Duringthereportingperiod,thesubsidiarystandardofindependentdirectorsissubjecttotheresolutionbytheFifthExtraordinaryGeneralMeetingof2019andadjustedas138,000yuan(taxinclusive)peryearforoneperson.Remunerationfordirectors,supervisorsandseniorexecutivesinreportingperiod
Unit:10thousandYuan
| Name | Gender | Age | Title | Post-holdingstatus | TotalremunerationobtainedfromtheCompany | WhetherremunerationobtainedfromrelatedpartyoftheCompany(Y/N) |
| WangZhikai | Male | 53 | PartySecretaryandChairman | Currentlyinoffice | 88.01 | N |
| GuCheng | Male | 51 | Director | Currentlyinoffice | 0 | Y |
| ZhangGuoyuan | Male | 51 | Director | Currentlyinoffice | 0 | Y |
| ZhengXiangpeng | Male | 49 | DeputySecretaryofthePartyCommittee,Director | Currentlyinoffice | 76.97 | N |
| LuYuhe | Female | 47 | DirectorandCFO | Currentlyinoffice | 50 | Y |
| ZhaoRubing | Male | 68 | Independentdirector | Currentlyinoffice | 13.8 | N |
| BiWeimin | Female | 68 | Independentdirector | Currentlyinoffice | 13.8 | N |
| LiuHaifeng | Male | 53 | Independentdirector | Currentlyinoffice | 13.8 | N |
| ZhengShengqiao | Male | 57 | DeputySecretaryoftheCommissionforDisciplineInspectionandemployeesupervisor | Currentlyinoffice | 108.26 | N |
| MaZenghai | Male | 60 | Employeesupervisor | Currentlyinoffice | 96.96 | N |
| ChenXiaohua | Male | 58 | PartyCommitteeMember,DeputyGMandSecretaryoftheBoardofDirectors | Currentlyinoffice | 115.21 | N |
| ShenHua | Male | 49 | PartyCommitteeMember,DeputyGM | Currentlyinoffice | 76.81 | N |
| XiaoHui | Male | 46 | PartyCommitteeMember,DeputyGM | Currentlyinoffice | 123.62 | N |
| DuJianguo | Male | 51 | PartyCommitteeMember,DeputyGM | Currentlyinoffice | 76.03 | N |
| HuXianghai | Male | 60 | FormerDeputySecretaryofthePartyCommittee,DirectorandGeneralManager | Leftoffice | 136.66 | N |
| Total | -- | -- | -- | -- | 989.93 | -- |
Otherexplanation
□Applicable?NotapplicableVI.Responsibilityperformanceofdirectorsduringthereportingperiod
1.Theboardofdirectorsduringthereportingperiod
| Meeting | Dateofmeeting | Disclosuredate | Meetingresolutions |
| The5thmeetingof11thsessionoftheBOD | 2024-01-19 | 2024-01-20 | The“Resolutionofthe5thmeetingof11thsessionoftheBOD”(NoticeNo.:2024-03)releasedonJuchaoWebsite(www.cninfo.com.cn)onJanuary20,2024 |
| The6thmeetingof11thsessionoftheBOD | 2024-04-01 | 2024-04-02 | The“Resolutionofthe6thmeetingof11thsessionoftheBOD”(NoticeNo.:2024-04)releasedonJuchaoWebsite(www.cninfo.com.cn)onApril2,2024 |
| The7thmeetingof11thsessionoftheBOD | 2024-04-12 | 2024-04-16 | The“Resolutionofthe7thmeetingof11thsessionoftheBOD”(NoticeNo.: |
| 2024-05)releasedonJuchaoWebsite(www.cninfo.com.cn)onApril16,2024 | |||
| The8thmeetingof11thsessionoftheBOD | 2024-04-25 | 2024-04-26 | The“Resolutionofthe8thmeetingof11thsessionoftheBOD”(NoticeNo.:2024-10)releasedonJuchaoWebsite(www.cninfo.com.cn)onApril26,2024 |
| The9thmeetingof11thsessionoftheBOD | 2024-08-23 | 2024-08-27 | The“Resolutionofthe9thmeetingof11thsessionoftheBOD”(NoticeNo.:2024-17)releasedonJuchaoWebsite(www.cninfo.com.cn)onAugust27,2024 |
| The10thmeetingof11thsessionoftheBOD | 2024-10-25 | 2024-10-29 | The“Resolutionofthe10thmeetingof11thsessionoftheBOD”(NoticeNo.:2024-10)releasedonJuchaoWebsite(www.cninfo.com.cn)onOct.29,2024 |
| The11thmeetingof11thsessionoftheBOD | 2024-11-14 | 2024-11-15 | The“Resolutionofthe11thmeetingof11thsessionoftheBOD”(NoticeNo.:2024-25)releasedonJuchaoWebsite(www.cninfo.com.cn)onNov.15,2024 |
| The12thmeetingof11thsessionoftheBOD | 2024-12-30 | 2024-12-31 | The“Resolutionofthe12thmeetingof11thsessionoftheBOD”(NoticeNo.:2024-28)releasedonJuchaoWebsite(www.cninfo.com.cn)onDec.31,2024 |
2.TheattendanceofdirectorstoBoardmeetingsandshareholdersgeneralmeeting
| TheattendanceofdirectorstoBoardMeetingandShareholdersGeneralMeeting | |||||||
| Director | TimesofBoardmeetingsupposedtoattendinthereportingperiod | Timesofpresence | TimesofattendingtheBoardMeetingbycommunication | Timesofentrustedpresence | TimesofAbsence | AbsenttheMeetingforthesecondtimeinarow(Y/N) | Timesofattendthegeneralmeeting |
| WangZhikai | 8 | 8 | 0 | 0 | 0 | N | 3 |
| GuCheng | 8 | 5 | 2 | 1 | 0 | N | 0 |
| ZhangGuoyuan | 8 | 5 | 2 | 1 | 0 | N | 1 |
| ZhengXiangpeng | 8 | 8 | 0 | 0 | 0 | N | 3 |
| LuYuhe | 8 | 6 | 2 | 0 | 0 | N | 2 |
| ZhaoRubing | 8 | 6 | 2 | 0 | 0 | N | 3 |
| BiWeimin | 8 | 6 | 2 | 0 | 0 | N | 2 |
| LiuHaifeng | 8 | 7 | 1 | 0 | 0 | N | 3 |
| HuXianghai | 7 | 6 | 0 | 1 | 0 | N | 1 |
ExplanationofnotattendingtheboardmeetinginpersonfortwoconsecutivetimesNil
3.Objectionforrelevanteventsfromdirectors
DirectorscomeupwithobjectionaboutCompany’srelevantmatters
□Yes?NoNodirectorscomeupwithobjectionaboutCompany’srelevantmattersinthePeriod
4.OtherexplanationaboutresponsibilityperformanceofdirectorsTheopinionsfromdirectorshavebeenadopted?Yes□NoExplanationonwhetherthedirector’sproposalabouttheCompanyhasbeenorhasnotbeenadoptedDuringthereportingperiod,independentdirectorsoftheCompanywereinstrictaccordancewithprovisionsofArticlesofAssociation,theCompanyLaw,GuidancetoEstablishmentofIndependentDirectorSysteminListedCompaniesandotherrelevantlawsandregulations,andactivelyattendedboardmeetings,shareholders’meetings.Theindependentdirectorsofthecompanyissuedindependentprofessionalopinionsforimportantissues,paidsustainedattentiontocompany’soperation,inspectedandguidedtheoperationandmanagementworkofthecompanyfromtimetotime,learnedaboutinternalcontrolsystem,implementationprogressoftheequityinvestmentproject,etc.,continuedtoenhanceconsciousnessofperformingdutiesaccordingtoprovisionsoflaw,andexpressedindependentandimpartialadviceforinvestmentoutside,relatedpartytransactions,hiringauditorsandothermattersoccurredduringthereportingperiodintime.DutiesperformanceofindependentdirectorshasimprovedthecorporategovernancestructureandsafeguardedtheinterestsoftheCompanyanditsshareholders.Fromperformanceofdutiesofindependentdirectors,pleasereferto“2024AnnualWorkReportofIndependentDirectors”disclosedinwww.cninfo.com.cn.
VII.PerformanceofDutiesbySpecializedCommitteesundertheBoardMeetingintheReportingPeriod
| Committeename | Members | Numberofmeetingsheld | Dateofmeeting | Meetingcontent | Importantcommentsandsuggestionsmade | Otherperformanceofduties | Specificcircumstancesoftheobjection(ifapplicable) |
| TheAuditCommitteeofthe11thsessionofBoardofDirectorsoftheCompany | BiWeimin,ZhaoRufing,ZhangGuoyuan | 5 | 2024-01-19 | DeliberatedtheProposalonRevisingtheCompany’sInternalAuditManagementSystem | - | - | Nil |
| 2024-04-12 | 1.DeliberatedSZCH2023AnnualInternalControlEvaluationReport;2.DeliberatedSZCH2023AnnualFinancialReport3.DeliberatedtheReportontheEvaluationoftheAccountingFirm’sPerformancein2023andtheReportontheAuditCommittee’sPerformanceofSupervisionResponsibilities | Evaluatedtheperformanceoftheaccountingfirmin2023andsummarizedthesupervisionresponsibilitiesfulfilledbytheauditcommittee. | - | Nil | |||
| 2024-04-25 | 1.DeliberatedSZCH2024FirstQuarterFinancialReport2.DeliberatedSZCH2023AnnualInternalControl | - | - | Nil |
| SystemWorkReport3.DeliberatedSZCH2024AnnualMajorRiskAssessmentReport4.DeliberatedSZCH2024AnnualInternalAuditandPost-InvestmentEvaluationWorkPlan | |||||||
| 2024-08-23 | DeliberatedtheSZCH2024Semi-AnnualFinancialReport | - | - | Nil | |||
| 2024-10-25 | 1.DeliberatedSZCH2024ThirdQuarterFinancialReport2.DeliberatedtheProposaltoProposeReappointingGrantThorntonChina(SpecialGeneralPartnership)astheCompany’s2024AnnualAuditInstitution | ProposaltoReappointGrantThorntonChina(SpecialGeneralPartnership)asthecompany’sfinancialauditandinternalcontrolauditinstitutionfor2024. | - | Nil | |||
| TheRemunerationandAssessmentCommitteeoftheAuditCommitteeofthe11thsessionofBoardofDirectorsoftheCompany | ZhaoRubing,BiWeimin,LuYuhe | 4 | 2024-04-12 | DeliberatedtheProposalontheRemunerationofDirectorsandSeniorExecutivesoftheCompanyfor2023 | - | - | Nil |
| 2024-10-25 | DeliberatedSZCH2023AnnualAssessmentWorkPlanforMembersoftheCompany’sManagementTeam(IncludingtheBoardSecretary)andFull-TimeDeputySecretaryofthePartyCommittee | - | - | Nil | |||
| 2024-11-14 | DeliberatedtheProposalonthe2024AnnualBusinessPerformanceResponsibilityStatementforMembersoftheCompany’sManagementTeam | - | - | Nil | |||
| 2024-12-30 | DeliberatedtheProposalonthe2023AnnualAssessmentResultsandRemunerationDistributionPlanfortheCompany'sManagementTeam(IncludingtheBoardSecretary)andFull- | - | - | Nil |
| TimeDeputySecretaryofthePartyCommittee | |||||||
| TheStrategyCommitteeofthe11thsessionofBoardofDirectorsoftheCompany | WangZhikai,ZhaoRufing,GuCheng | 4 | 2024-01-19 | DeliberatedtheProposalonthePhaseIVQuasi-LowTemperatureRiceWarehouseExpansionandSupportingTransformerProjectofPinghuGrainDepot. | - | - | Nil |
| 2024-04-25 | DeliberatedSZCH2024AnnualComprehensiveBudgetDraft | - | - | Nil | |||
| 2024-08-23 | DeliberatedtheProposalontheProjectofShenzhenHualianGrainandOilTradingCo.,Ltd.Acquiringthe49%MinorityShareholders'EquityofShuangyashanShenliangCerealsBaseCo.,Ltd. | - | - | Nil | |||
| 2024-12-30 | 1.DeliberatedtheProposalonSZCH2025AnnualExternalFinancingPlan2.DeliberatedtheProposalonRevisingtheCompany’sComprehensiveBudgetManagementMeasures3.DeliberatedtheProposalontheCapitalIncreaseProjectofSZCGforShenzhenShenliangBigKitchenFoodSupplyChainCo.,Ltd;(4)DeliberatedtheProposalontheCapitalIncreaseProjectofSZCGforShenzhenHualianGrainandOilTradingCo.,Ltd. | - | - | Nil | |||
| TheNominationCommitteeofthe11thsessionofBoardofDirectorsoftheCompany | ZhaoRubing,WangZhikai,LiuHaifeng | 0 | - | - | - | Nil |
VIII.WorksoftheBoardofSupervisorsDoestheboardofsupervisorsdiscoveranyrisksinthecompanyduringitssupervisoryactivitiesduringthereportingperiod?
□Yes?NoTheboardofsupervisorshasnoobjectionaboutsupervisioneventsinreportingperiod
IX.Particularsofworkforce
1.NumberofEmployees,Professionalcomposition,Educationbackground
| Employeein-postoftheparentCompanyatperiod-end(people) | 142 |
| Employeein-postofmainsubsidiariesatperiod-end(people) | 1,020 |
| Thetotalnumberofcurrentemployeesatperiod-end(people) | 1,162 |
| Thetotalnumberofcurrentemployeestoreceivepay(people) | 1,162 |
| Retiredemployee’sexpensesbornbytheparentCompanyandmainsubsidiaries(people) | 0 |
| Professionalcomposition | |
| Categoryofprofessionalcomposition | Numbersofprofessionalcomposition(people) |
| Productionpersonnel | 256 |
| Salesperson | 136 |
| Technicians | 210 |
| Financialpersonnel | 102 |
| Administrativepersonnel | 458 |
| Total | 1,162 |
| Educationbackground | |
| Education | Numbers(people) |
| Postgraduate | 142 |
| Undergraduate | 375 |
| College | 248 |
| Juniorcollege | 84 |
| Highschoolandbelow | 313 |
| Total | 1,162 |
2.RemunerationPolicy
Duringthereportingperiod,employeewageswaspaidmonthlyaccordingtosalarymanagementprovisionssetbytheCompany,andtheperformance-relatedpaywasissuedbasedontheactualsituationofbenefitandindividualperformanceassessmentresultsattheyear-end,remunerationandbenefitareconnectedasawhole.
3.TrainingPlan
In2024,basedonthedeepeningoftheimplementationofaclassifiedandlayeredtalenttrainingplan,therolecharacteristicsofthephasedpopulationweresortedoutfromtheperspectiveoforganizationaldevelopmentandtalentdemand,focusingonthetalentmanagementpyramidthathasbeengraduallybuiltintheearlystage.Basedontheconstructionoftalentechelons,traininggoalsanddirectionswereformed,whileactivelyrespondingtothetrainingneedsofhigher-levelunitstocarryouttrainingeffectively.Continuouslyimprovedtheprofessionallevelandabilityoftalentcultivationinthecompany,achievedefficientutilizationofresources,andprovidedacontinuoussourceofintelligenceforthecompany’sdevelopment.
4.Laboroutsourcing
□Applicable?NotapplicableX.ProfitdistributionplanandcapitalizingofcommonreservesplanFormulation,ImplementationandAdjustmentofProfitDistributionPolicyEspeciallyCashDividendpolicyduringtheReportingPeriod?Applicable□NotapplicableTheprofitdistributionpolicyoftheCompanyisspecifiedintheArticleofAssociationas:
(1)ProfitdistributionoftheCompanyshouldpayattentiontothereasonableinvestmentreturntoinvestors,andtheprofitdistributionpolicyshouldmaintaincontinuityandstability;
(2)TheCompanymaydistributedividendsintheformofcashoracombinationofcashandstocks,andmaypayinterimcashdividends;
(3)ThefollowingconditionsshallbemetatthesametimewhentheCompanyintendstoimplementcashdividends:
1.Earningspersharefortheyearisnotlessthan0.1yuan;
2.Theauditinstitutionshallissueastandardunqualifiedauditreportonthecompany’sannualfinancialreport;
3.Thecompanyhasnomajorinvestmentplansormajorcashexpenditures(exceptforfund-raisingprojects).Majorinvestmentplansormajorcashexpendituresrefertothecumulativeexpendituresthatthecompanyintendstoinvest,acquireassets,orpurchaseequipmentinthenexttwelvemonthsreachorexceed30%ofthecompany’smostrecentauditedtotalassets,andexceed50millionyuan;
(4)Inprinciple,thecompany’sannualprofitsdistributedincashshouldnotbelessthan10%oftheattributableprofitsrealizedintheyear;andthecompany’scumulativeprofitsdistributedincashinthelast3yearsshouldnotbelessthan30%oftheannualaverageattributableprofitsrealizedinthelast3years.Underthepremiseofensuringthedistributionofcashprofits,thecompanycanadditionallyadoptthemethodofstockdividenddistributionforprofitdistribution;thecompany’sannualprofitdistributionamountshallnotexceedthecompany’saccumulatedundistributedprofitsattheendoftheyear,andshallnotdamagethecompany’sabilitytocontinueoperations;
(5)Thespecificprofitdistributionplanshallbedrawnupbytheboardofdirectorsandsubmittedtothegeneralmeetingofshareholdersfordeliberation.Thecompanyprovidesavarietyofwaystoaccepttherecommendationsandsupervisionofallshareholders,independentdirectorsandsupervisorsonthecompany’sdividendsdistribution.IftheannualreportingperiodisprofitablebuttheboardofdirectorsdoesnotproposeacashdividendplaninaccordancewiththeArticlesofAssociation,itshallbedisclosedintheperiodicreportthereasonsfornotproposingacashdividendplaninaccordancewiththeArticlesofAssociation,andthepurposeoffundsnotusedfordividendsbutretainedbythecompany.Theindependentdirectorsshallexpressindependentopinionsonthispurpose.Inadditiontoon-sitemeetings,thecompanyshallalsoprovideshareholderswithanonlinevotingplatformwhenconveningageneralmeetingofshareholders;
(6)Ifthecompanyhasnotdistributedcashprofitsinthelast3years,itcannotissuenewsharestothepublic,issueconvertiblecorporatebondsorallotsharestooriginalshareholders;
(7)Whereashareholderillegallyoccupiesthecompany’sfunds,thecompanyshalldeductthecashdividendsdistributedtotheshareholderinordertorepaythecapitaloccupied;
(8)Whenthecompanyadjustsitsprofitdistributionpolicy,itshouldtaketheprotectionofshareholders,especiallysmallandmediumshareholders’rightsandinterests,asthestartingpointfordetailedargumentation,andtheboardofdirectorsshouldsubmitittothegeneralmeetingofshareholdersforreviewandapprovalbyaspecialresolution,whileindependentdirectorsshouldexpressclearindependentopinions;
(9)Thecompanyprovidesmultiplechannels(telephone,fax,e-mail,interactiveplatform,etc.)toacceptallshareholders’suggestionsandsupervisiononthecompany'sdividends.Theforeignexchangeconversionrateofdomestically-listedforeignsharedividendsiscalculatedbasedonthecentralparityrateofHongKongdollaragainstRMBannouncedbythePeople’sBankofChinaonthefirstworkingdayaftertheresolutiondateofthegeneralmeetingofshareholders.Duringthereportingperiod,thecompany’sprofitdistributioncompliedwiththecompany’sarticlesofassociationandreviewprocedures,andfullyprotectedthelegitimaterightsandinterestsofsmallandmediuminvestors.Independentdirectorsexpressedtheiropinions,andtheprofitdistributionprocedureswerecompliantandtransparent.Duringthereportingperiod,thecompany’sprofitdistributionpolicyhasnotbeenadjustedorchanged.
| Specialexplanationoncashdividendpolicy | |
| SatisfyregulationsofGeneralMeetingorrequirementofArticleofAssociation(Y/N): | Y |
| Well-definedandclearlydividendstandardsandproportion(Y/N): | Y |
| Completedrelevantdecision-makingprocessandmechanism(Y/N): | Y |
| Independentdirectorsperformdutiescompletelyandplayaproperrole(Y/N): | Y |
| Ifthecompanydoesnotdistributecashdividends,specificreasonsshouldbedisclosed,aswellasthemeasurestobetakennexttoenhanceinvestorreturns: | Y |
| Minorityshareholdershaveopportunitytoexpressopinionsanddemandstotallyandtheirlegalrightsarefullyprotected(Y/N): | Y |
| Conditionandproceduresarecomplianceandtransparentwhilethecashbonuspolicyadjustedorchanged(Y/N): | NA |
TheCompanygainsprofitsinreportingperiodandtheparentcompanyhaspositiveprofitavailablefordistributiontoshareholdersoftheparentcompanybutnocashdividenddistributionplanhasbeenproposed
□Applicable?NotapplicableProfitdistributionplanandcapitalizingofcommonreservesplanforthePeriod?Applicable□Notapplicable
| Bonussharesforevery10-share(Share) | 0 |
| Dividendsforevery10-share(RMB)(taxinclusive) | 1.5 |
| Equitybaseofdistributionplan(Share) | 1,152,535,254 |
| Cashbonusdistribution(RMB)(taxinclusive) | 172,880,288.10 |
| Cashbonusdistributioninotherways(i.e.sharebuy-backs)(RMB) | 0.00 |
| Totalcashbonus(includingotherways)(RMB) | 172,880,288.10 |
| Profitavailablefordistribution(RMB) | 1,388,762,768.13 |
| Ratiooftotalcashdividend(otherwaysincluded)intotalprofitdistribution | 100% |
| Cashdividend | |
| IncasetheCompanyisinadevelopmentstageandhasthearrangementofmajorcapitalexpenses,theratioofcashdividendinprofitdistributionshouldreachaminimumof20%inprofitdistribution. | |
| Detailedexplanationonprofitdistributionorcapitalaccumulationfundconversionplan | |
| AfterauditedbyGrantThorntonCertifiedPublicAccountantLLP(SpecialGeneralPartnership),inconsolidatestatementsforyearof2024,thenetprofitattributabletoshareholdersofparentcompanyamountedto325,309,578.52yuan;AsofDec.31,2024,theprofitofparentcompanythatcanbedistributedforshareholderswas1,388,762,768.13yuan.InaccordancewithrelevantregulationsandArticleofAssociation,combinedwiththeactualdevelopmentneedsoftheCompanyandinconsiderationoftheinterestsofshareholders,BODplanstosubmittheequitydistributionplanforyearof2024toshareholdersgeneralmeeting:basedontotalsharecapital1,152,535,254sharesoftheCompanyonDec.31,2024,distribute1.5yuan(taxinclusive)forevery10-sharetoallshareholderswithzerosharebonus(taxinclusive),andnocapitalshareconvertedfromcapitalreserve. | |
XI.ImplementationoftheCompany’sstockincentiveplan,employeestockownershipplanorotheremployeeincentives
□Applicable?NotapplicableDuringthereportingperiod,theCompanyhasnostockincentiveplan,employeestockownershipplanorotheremployeeincentivesthathavenotbeenimplemented.XII.Constructionandimplementationofinternalcontrolsystemduringthereportingperiod
1.ConstructionandimplementationofinternalcontrolInaccordancewiththeCompanyLaw,theGuidelinesforGovernanceofListedCompanies,therelevantregulationsoftheChinaSecuritiesRegulatoryCommissionandotherrelevantnationallawsandregulations,thecompanyhasestablishedthegeneralmeetingofshareholders,theboardofdirectors,theboardofsupervisors,thepartycommittee,andmanagers.Theboardofdirectorsconsistsofstrategycommittee,remunerationandappraisalcommittee,nominationscommitteeandauditcommittee,clarifiedtheresponsibilitiesandauthoritiesofdecision-making,execution,andsupervision,andformedascientificandeffectivedivisionofresponsibilitiesandchecksandbalancesmechanism,providingagoodinternalenvironmentfortheestablishmentandoperationofthecompany’sinternalcontrolsystem.Ontheaspectofconstructionandimplementationoftheinternalcontrolsystem,theboardofdirectorsisresponsiblefortheestablishment,improvementandeffectiveimplementationoftheinternalcontrolsystem,theboardofsupervisorssupervisestheestablishmentandimplementationoftheinternalcontrolsystemoftheboardofdirectors,andthemanagersareresponsiblefororganizingthedailyoperationofthecompany’sinternalcontrolsystem,andthecompany’sriskmanagementandinternalauditdepartmentisspecificallyresponsiblefororganizingandcoordinatingtheestablishment,implementation,evaluationanddailyworkoftheinternalcontrolsystem.Thecompanyhasestablishedmanagementsystemsandproceduresinlinewithinternalcontrolmanagementnormsinthefieldsoforganizationalstructure,developmentstrategy,internalauditandsupervision,humanresources,socialresponsibility,corporateculture,capitalmanagement,procurementbusiness,salesbusiness,assetmanagement,engineeringprojectmanagement,researchanddevelopment,guaranteebusiness,investmentmanagement,contractmanagement,budgetmanagement,financialreports,andinformationcommunication,whichhavebeeneffectivelyimplementedinthedailybusinessoperationandmanagementprocess.
2.Detailsofmajordefectsininternalcontrolidentifiedduringthereportingperiod
□Yes?No
XIII.Managementandcontrolsonsubsidiariesduringreportingperiod
| Name | Integrationplans | Integrationprogress | Problemsencounteredinintegration | Measurestakentoresolve | Progressinsolution | Follow-upsolutionplan |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A |
XIV.Internalcontrolself-appraisalreportorinternalcontrolauditreport
1.Self-appraisalreportofinternalcontrol
| Disclosuredateoffullinternalcontrolevaluationreport | April29,2025 | |
| Disclosureindexoffullinternalcontrolevaluationreport | “Internalcontrolself-appraisalreportofShenzhenCerealsHoldingsCo.,Ltd.in2024”publishedonJuchaoWebsite(http://www.cninfo.com.cn) | |
| TheratioofthetotalassetsofentitiesincludedinthescopeofevaluationaccountingforthetotalassetsontheCompany’sconsolidatedfinancialstatements | 100.00% | |
| TheratiooftheoperatingincomeofentitiesincludedinthescopeofevaluationaccountingfortheoperatingincomeontheCompany’sconsolidatedfinancialstatements | 100.00% | |
| DefectsEvaluationStandards | ||
| Category | FinancialReports | Non-financialReports |
| Qualitativecriteria | 1.Majordefects:Defectaloneortogetherwithotherdefectsinatimelymannercauseunpreventableorundetectableanduncorrectablematerialmisstatementinthefinancialstatements.TheCompanymayindicatethepresenceofsignificantdeficienciesininternalcontroloverfinancialreportingiffollowingcircumstances:(1)Thedirectors,supervisorsandseniormanagementfraud;(2)Enterprisecorrectsmistakewhichhasbeenpublishedinfinancialstatements;(3)CPAfindsmaterialmisstatementincurrentfinancialstatements,butinternalcontrolduringoperationfailstofindthemisstatements;(4)Oversightofinternalcontrolbycorporateauditcommitteeandtheinternalauditisinvalid;(5)Particularlyimportantorsignificantdeficienciesfoundduringinternalcontrolhasnotbeenrectified;(6)Thelackofbusiness-criticalsystemorinvalidsystem.2.Importantdefect:defectaloneortogetherwithotherdefectsinatimelymannercauseunpreventableor | 1.Qualitativecriteriaformajordefectsareasfollows:(1)Thelackofdemocraticdecision-makingprocess,suchasthelackofdecision-makingonmajorissues,animportantappointmentanddismissalofcadres,majorinvestmentdecisions,largesumsofmoneyusingthedecision-makingprocess;(2)Decision-makingprocessisnotscientific,suchasmajorpolicymistakes,resultinginsignificantpropertydamagetotheCompany;(3)Seriousviolationsofnationallawsandregulations;(4)Lossofkeyexecutivesorlossofalargenumberofkeytalents;(5)Frequentnegativenewsinmedia,whichcausesnationwideimpact.2.Thequalitativecriteriaforimportantdefectsareasfollows:(1)Thedecision-makingprocessisnotperfect;(2)Thecompany’sinternalmanagementsystemhasnotbeeneffectivelyimplemented,resultinginlosses;(3)Frequentoccurrenceofnegative |
| undetectableanduncorrectablematerialmisstatementinthefinancialstatements,althoughnotreachandexceedthelevelofimportance,shouldleadtomanagementattentionmisstatements.3.GeneralDefects:otherinternaldefectsdonotposeasignificantorimportantdefectcontroldeficiency. | newsinthemediawithcertaininfluence;(4)Thegeneraldefectsintheinternalcontrolevaluationhavenotbeencorrected.3.Generaldefectsrefertootherinternalcontroldefectsthatdonotconstitutemajordefectsorimportantdefects. | |
| Quantitativestandard | Majordefects:Potentialmisstatementoftotalassets≥1%oftotalassets;Potentialmisstatementofoperatingrevenue≥1%ofoperatingincome;Potentialmisstatementoftotalprofit≥5%oftotalprofit.Importantdefects:0.5%oftotalassets≤Potentialmisstatementoftotalassets<1%oftotalassets,0.5%ofoperatingincome≤Potentialmisstatementofoperatingrevenue<1%ofoperatingincome,2.5%oftotalprofit≤Potentialmisstatementoftotalprofit<5%oftotalprofit;Generaldefects:Potentialmisstatementoftotalassets<0.5%oftotalcapital;PotentialmisstatementofOperatingrevenue<0.5%ofoperatingincome;Potentialmisstatementoftotalprofit<2.5%oftotalprofit; | Majordefects:theamountofdirectpropertyloss≥12millionyuan,havebeenofficiallydisclosedoutsidetheCompanydisclosedinperiodicreportsandadverselyaffected.Importantdefects:3millionyuan<theamountofdirectpropertyloss<12millionyuan,punishedbythestategovernmentbutnonegativeimpactonthedisclosureofthecompany’sregularreports;Generaldefects:theamountofdirectpropertyloss≤3millionyuan,punishedbytheprovincial(includingprovincial)governmentbutnonegativeimpactonthedisclosureofthecompany’sregularreports; |
| Numberofsignificantdefectsinfinancialreports | 0 | |
| Numberofsignificantdefectsinnon-financialreports | 0 | |
| Numberofimportantdefectsinfinancialreports | 0 | |
| Numberofimportantdefectsinnon-financialreports | 0 | |
2.Internalcontrolauditreport
?Applicable□Notapplicable
| DeliberationsinInternalControlAuditReport | |
| GrantThorntonCertifiedPublicAccountantLLP(SpecialGeneralPartnership)believesasofDec.31,2024,thecompanymaintainedeffectiveinternalcontroloverfinancialreportinginallsignificantaspectsinaccordancewiththeBasicStandardsforEnterpriseInternalControlandrelevantregulations | |
| Disclosuredetailsofauditreportofinternalcontrol | Disclosed |
| Disclosuredateofauditreportofinternalcontrol(full-text) | 2025-04-29 |
| Indexofauditreportofinternalcontrol(full-text) | TheinternalcontrolauditreportofSHENZHENCEREALSHOLDINGSCO.,LTD.in2024publishedonJuchaoWebsite(www.cninfo.com.cn) |
| Opiniontypeofauditingreportofinternalcontrol | Standardunqualified |
| Whetherthenon-financialreporthadmajordefects | No |
Whethertheaccountingfirmissuesaninternalcontrolauditreportwithnon-standardopinionsornot?
□Yes?NoWhethertheinternalcontrolauditreportissuedbytheaccountingfirmisconsistentwiththeself-evaluationreportoftheboardofdirectors?
?Yes□NoXV.RectificationofSelf-examinationProblemsinSpecialGovernanceActionsinListedCompanyDuringthereportingperiod,thecompanyconductedself-examinationandself-correctiononcorporategovernanceinaccordancewiththerequirementsoftheAnnouncementonLaunchingSpecialActionsonCorporateGovernanceofListedCompaniesoftheChinaSecuritiesRegulatoryCommission.Throughthisself-examination,thecompanyhasestablishedandimprovedarelativelycompleteandreasonablecorporategovernancestructureandinternalcontrolsysteminaccordancewithrelevantlawsandregulationssuchastheCompanyLaw,GuidelinesforGovernanceofListedCompanies,Self-RegulatoryGuidelinesforListedCompaniesNo.1-StandardizedOperationofMainBoardListedCompanies,etc.Thecompanydidn’tfindanymajordeficienciesandrisksinstandardizedoperations.Inthefuture,thecompanywillfocusonimprovingthehigh-qualitydevelopmentofthelistedcompany,continuetoimprovethecorporategovernancesystem,effectivelyimprovetheeffectivenessofcorporategovernanceandscientificityofdecision-making,andachievestableoperationandsustainabledevelopmentofthecompany.
SectionV.EnvironmentalandSocialResponsibilitiesI.Majorenvironmental
Arethelistedcompanyanditssubsidiariesakeypollutantdischargeunitannouncedbytheenvironmentalprotectionauthorities?
□Yes?NoAdministrativepunishmentforenvironmentalproblemsduringthereportingperiod
| Companynameorsubsidiaryname | Reasonforpunishment | Violation | Punishmentresult | Impactontheproductionandoperationoflistedcompany | Thecompany’srectificationmeasures |
| NA | NA | NA | NA | NA | NA |
OtherenvironmentalinformationdisclosedbyreferencetokeypollutantdischargeentitiesNilMeasurestakentoreducecarbonemissionsduringthereportingperiodandtheireffectiveness
□Applicable?NotapplicableReasonsfornotdisclosingotherenvironmentalinformationThecompanyattachedgreatimportancetoenvironmentalprotectionwork,andeachsubsidiaryhasbuiltcorrespondingenvironmentalprotectionfacilitiesaccordingtotheactualsituationofproductionandoperationtotreatwastegas,dust,wastewaterandsolidwastegeneratedintheproductionprocess,soastomakeitsemissionsreachthenationalandlocalrelevantstandards.II.SocialresponsibilityDuringthereportingperiod,theCompanyhasbeenstrictlyinaccordancewithCompanyLaw,SecuritiesLaw,ArticlesofAssociationandotherrelevantlawsandregulations,continuestoimprovegovernancestructureandregulateoperation.TheCompanyattachesimportancetosocialresponsibility,sustainsattentiontosocialcreatevalue,integritymanagementaccordingtolaw,providesconsumerswithsafeandsecureproducts,high-quality,greenandhealthyproductstoenhancethecapacityforsustainabledevelopmentandoverallcompetitiveness;andmakeeffortstoimprovemanagement,enhanceinnovationcapabilityandcorecompetencies;theCompanyupholdsafair,justandopenprinciplesoftreatmentforallinvestors,withparticularemphasisonsafeguardingtheinterestsofminorityshareholders;theCompanystrictlycomplieswithnationalenvironmentallawsandregulations,thoroughlyimplementsgreenphilosophy,strengthensecologicalprotection,complieswiththeoveralldevelopmentofthecountryandsociety,andstrivestoachieveeconomicandsocialbenefits,short-terminterestsandlong-terminterestsoftheirowndevelopmentandsocialdevelopment,coordination,thusachievinghealthyandharmoniousdevelopmentoftheCompany,staff,society,andenvironment.
III.ConsolidatingandexpandingtheachievementsofpovertyalleviationandruralrevitalizationIn2024,SZCHadheredtoXiJinpingThoughtonSocialismwithChineseCharacteristicsforaNewEra,thoroughlystudyingandimplementingtheguidingprinciplesofthe20
th
NationalCongressoftheCommunistPartyofChinaaswellastheSecondandThirdPlenarySessionsofits20
th
CentralCommittee.ItearnestlyimplementedGeneralSecretaryXiJinping’simportantstatementsonworkrelatedtoagriculture,ruralareas,andfarmers(the“threerural”issues),andhiskeyinstructionsonruralrevitalization.Focusingontheprovincialgovernment’s“High-QualityDevelopmentProjectforHundredsofCounties,ThousandsofTowns,andTensofThousandsofVillages”andthemunicipalgovernment’sruralrevitalizationassistanceinitiatives,thecompanyactively
fulfilleditssocialresponsibilities.Leveragingitsprofessionalstrengthsinthegrainindustry,itcontinuedtodeepeneffortsinruralrevitalization,contributingtotheconsolidationandexpansionofachievementsinpovertyalleviation.
．FulfilledsupportresponsibilitiesandunitedeffortsforruralrevitalizationThePartyCommitteeofthecompanyattachedgreatimportancetoruralrevitalization,integratingitintothekeyagendaofthecompany.Thecompany’sleadershiphasconductedin-depthvisitsandfieldresearchinpairedsupportvillagestostayinformedabouttheworkingconditions,moraleofstationedvillageofficials,andtheprogressofsupportprojects,therebyenhancingthequalityandefficiencyofruralrevitalizationefforts.Inalignmentwiththeprovincial“1310”strategicdeployment,thecompanyorganizedPartymemberrepresentativestoparticipateinafforestationactivitiesinTuocheng.Basedontheoperationallandscapeoflocalpeanutoilprocessingenterprises,promotedtheestablishmentofthe“SZCGEdibleOilBranchSupportandCo-DevelopmentBase.”Additionally,selectedonestaffmembertojointheShenzhenWorkTeamforTownandVillageAssistanceandhasbeenstationedinChaonanDistrict,Shantou,tocarryouttargetedsupportwork.
．DeepenedindustrialsupportandbuildingadiversifiedassistancesystemIntermsofstandardizationefforts,SZCHhascontinuedtostrengthenitssupportfortheapplicationof“Zhenpin”certification,assistingfiveenterprisesinLongchuanCountyincompletingmultiplebatchesofagriculturalproductcertifications.Thisinitiativepromotedthestandardizationandbrandingoftheregion’spremiumagriculturalproducts.Flthecompanysupportedstationedvillageofficialsinestablishinga“FeedProcessingCooperative+”alliance,supplying40tonsoffeedmaterialstoafarmingandbreedingalliance,reducingcostsbynearlyRMB60,000.DongguanLogisticssigneda100-tonfeedmaterialsupplycontractwithalocalcooperativerepresentativetojointlybuildindustrialcapacity,helpingtoexpandbreedingscalesandlowerproductioncosts.Meanwhile,ShenbaoHuachengestablishedthree“ShenbaoHuachengYunnanBlackTeaProductionBases”inYunnanProvince.ItsR&Dpersonnelhaveprovidedongoingtechnicalsupportandguidanceintea-producingmountainousareassuchasYunnan,Fujian,andGuizhou,helpingtoenhancetheprofessionalskillsofteafarmersandeffectivelyaddressingemploymentchallengesforlocalwomen.Additionally,Doximilaunchedthe“DoximiAssistanceMall,”sourcingspecialtyagriculturalproductsfromregionsincludingBamainGuangxiandLuochuaninShaanxi.Coveringmorethantencategoriessuchasfruits,nuts,andgrains,thisinitiativehasstrengthenedtheagriculturalsupplychainandboostedfarmers’incomesandbenefits.
．FocusedontargetedassistanceandcultivateddriversofdistinctivedevelopmentFocusingonculturalempowerment,SZCH’sstationedvillageofficialsdeeplyexploredTuocheng’slocalcultureandassistedtheworkteamindesigningandcreatinganoriginal“Tuocheng”culturalIP.Avarietyofculturalproducts,includingthemedT-shirtsandgiftbags,werelaunchedtoenhancethebrandinfluenceofproductsfromthesupportedregion.Incarryingoutcharitableassistance,thecompanycollaboratedwithcaringenterprisesandpublicwelfarefoundationstodonatedesks,chairs,andrecreationalsuppliestoShengliPrimarySchool,whilealsocompletingasafeelectricityupgradeproject.Italsoprovidedlong-termeducationalsponsorshipsfortwoorphanedsistersandofferedmedicalassistancetoaveterancouple.Moreover,thecompanyactivelypromotedTuocheng’spublicwelfarejobplacementprogram,successfullysecuringjobquotasthathelpedincreasetheincomesoffivedisadvantagedhouseholds.
．Strengthenedconsumer-basedassistancetopromotevirtuouscycleofincomegrowthandconsumptionupgradingThecompanycontinuedtoimplementconsumer-basedassistanceinitiatives,activelymobilizingitssubsidiariesandgrassrootslaborunionstopurchaseagriculturalandsidelineproductsfromformerlyimpoverishedareas.Byfullyleveragingthepositiveroleofconsumptioninsupportingruralrevitalization,SZCHhaseffectivelycontributedtoincomegrowthforfarmers.In2024alone,itprocuredoverRMB6millionofproductsundertheconsumerassistanceprogram.
SectionVI.ImportantEventsI.Implementationofcommitment
1.CommitmentscompletedinPeriodandthosecompletedtilltheendofthePeriodfromactualcontroller,shareholders,relatedparties,purchaserandcompanies?Applicable□Notapplicable
| Commitmentreason | Madeby | Typeofcommitments | Contentofcommitments | Commitmentdate | Commitmentterm | Implementation |
| Commitmentsinassetsreorganization | ShenzhenAgriculturalPowerGroup | Othercommitments | Commitmenttonon-normalbusinessenterprises:Fornon-normalbusinessenterprisesunderShenzhenCerealsGroup(includingbutnotlimitedtoenterprisesthathavebeenrevokedbusinesslicenses,discontinuedoperation,etc.),thecommitmentpartywillfullyassist,urgeandpromoteShenzhenCerealsGrouptoimplementthecorrespondingwrite-offprocedures.Afterthecompletionofthisreorganization,ifShenzhenCerealsGrouporthelistedcompanyiscalledtoaccount,receivesadministrativepunishmentorsuffersanylossesduetotheabnormaloperationofthenon-normalbusinessenterprisesorthefailuretohandlewrite-offproceduresintime,thecommitmentpartywillbeartherelevantlegalliability,andfullycompensatethelistedcompanyandthetargetcompanywithin30workingdaysaftertheactuallossoccurs. | 2018-03-23 | Implementaspromised | Normalperformance |
| ShenzhenAgriculturalPowerGroup | Othercommitments | RelevantCommitmentsRegardingtheExistenceofFlawsinLeasedProperty:TheleasedhousepropertyofShenzhenCerealsGroupanditsholdingsubsidiarieshasthefollowingconditions:(1)Thelessorhasnotprovidedtheownershipdocumentaryevidenceofthepropertyand/orthedocumentaryevidenceprovingthelessorhastherighttorentoutthehouseproperty.(2)Theleasetermofpartoftheleasedhousepropertyismorethan | 2018-03-23 | Implementaspromised | Normalperformance |
| 20years;(3)ShenzhenCerealsGroupanditssubsidiariessubletpartoftheleasedhousepropertytoathirdpartywithouttheconsentofthelessor;(4)TheleasedhousepropertyofShenzhenCerealsGroupanditsholdingsubsidiaryhasnotbeenregisteredforthehousinglease.IfShenzhenCerealsGroupanditsholdingsubsidiariesareimposedanyformofpunishmentbytherelevantgovernmentdepartmentsorassumeanyformoflegalresponsibility,orsufferfromanylossesorexpensesbecausetheirleasedplaceand/orhousepropertydonotcomplywithrelevantlawsandregulations,thecommitmentpartywillbewillingtobearanylosses,damages,claims,costsandexpensesincurred,sufferedandassumedbyShenzhenCerealsGroupanditsholdingsubsidiaries,andprotectShenzhenCerealsGroupanditsholdingsubsidiariesfromdamages.Inaddition,thecommitmentpartywillsupportShenzhenCerealsGroupanditsholdingsubsidiariestoactivelyadvocatetheirrightsagainstthecorrespondingpartiesinordertosafeguardandprotecttheinterestofShenzhenCerealsGroupandthelistedcompaniestothemaximumextent. | |||||
| ShenzhenAgriculturalPowerGroup | Othercommitments | CommitmentLetteronFlawsinHousePropertyandLand:InthecasethatsomeofthehousepropertiesheldbyShenzhenCerealsGroupfailtorenametheobligeeofthepropertyownershipcertificate,thecommitmentpartywillfullyassist,urgeandpromoteShenzhenCerealsGrouporitssubsidiariestogothroughtheformalities.Afterthecompletionofthisreorganization,ifShenzhenCerealsGrouporthelistedcompanyiscalledtoaccount,receivesadministrativepunishmentorsuffersanylossesduetothefailuretorenametheobligeeofthepropertyownershipcertificate,thecommitment | 2018-03-23 | Implementaspromised | Normalperformance |
| subsidiaryofShenzhenCerealsGroup,hasnotappliedforlanduserightcertificates,thecommitmentpartywillfullyassist,urgeandpromotethesubsidiaryofShenzhenCerealsGrouptomanagetheapplicationproceduresofthecorrespondinglanduserightcertificates.Afterthecompletionofthereorganization,ifShenzhenCerealsGrouporthelistedcompanyiscalledtoaccount,receivesadministrativepunishmentorsuffersanylossesbecausethelanduserightcertificatecannotbeissuedduetoanyownershipdisputesintheabove-mentionedlanduseright,thecommitmentpartywillbeartherelevantlegalliability,andfullycompensatethelistedcompanyandShenzhenCerealsGroupwithin30workingdaysaftertheactuallossoccurs.IfShenzhenCerealsGroupanditsholdingsubsidiariesarerequiredtotakebackthesitesand/orpropertiesorimposedanyformofpunishmentbytherelevantgovernmentdepartmentsorassumeanylegalliability,orsufferanylossesorexpensesarisingfromthemodificationforflawsinsitesand/orpropertiesastheabove-mentionedandotherself-ownedorleasedsitesand/orpropertiesfailtocomplywiththerelevantlawsandregulations,thecommitmentpartywillassumeanylosses,damages,claims,costsandexpensesincurred,sufferedandassumedbyShenzhenCerealsGroupanditsholdingsubsidiaries,andprotectthelistcompaniesandShenzhenCerealsGroupfromdamages.Inaddition,thecommitmentpartywillsupportthecompanyanditsholdingsubsidiariestoactivelyadvocatetheirrightsagainstthecorrespondingpartiesinordertosafeguardandprotecttheinterestofthecompanyanditsholdingsubsidiariestothemaximumextent. | |||||
| Shenzhen | Other | CommitmentLetteronthe | 2018-03-23 | Implement | Normal |
| AgriculturalPowerGroup | commitments | Company’sSystemReformandSystemEvaluationofShenzhenCerealsGroupin1998:Afterthecompletionofthisrestructuring,ifShenzhenCerealsGrouporthelistedcompanyiscalledtoaccount,receivesadministrativepunishmentorsuffersanylossesasthesystemreformisnotevaluatedorotherreasonsrelatedtothisreform,thecommitmentpartywillbeartherelevantlegalliability,andfullycompensatethelistedcompanyandShenzhenCerealsGroupwithin30workingdaysaftertheactuallossoccurs. | aspromised | performance | |
| ShenzhenAgriculturalPowerGroup | Othercommitments | Commitmentonthepublicshares:Afterthecompletionofthetransaction,thecommitmentpartywillcautiouslynominatedirectorsandsupervisors,andwillnotnominatecandidatesfordirectors,supervisorsandseniormanagementtothelistedcompanythatwillcausetheproportionofpublicsharesofthelistedcompanynotmeettherequirementsoftheListingRulesofShenzhenStockExchange.;norwillvotefortherelevantshareholders’meetingand/orboardresolutionsforselectingdirectors,supervisorsandseniorexecutivesoflistedcompaniesthatwillmaketheproportionofpublicsharesoflistedcompaniesnotmeettherequirementsoftheListingRulesofShenzhenStockExchange. | 2018-03-23 | Implementaspromised | Normalperformance |
| ShenzhenAgriculturalPowerGroup | Othercommitments | CommitmentletterofShenzhenFoodMaterialsGroupCo.,LtdonpendinglitigationofShenzhenCerealsGroupCo.,Ltd.:ShenzhenShenbaoIndustrialCo.,Ltd.(hereinafterreferredtoas“Shenshenbao”,“ListedCompany”)intendstopurchasethe100%equityofShenzhenCerealsGroupCo.,Ltd.(hereinafterreferredtoas“SZCG”,“targetcompany”)heldbytheshareholdersofSZCGthroughissuanceofshares.Inviewofthetwounfinishedmajor | 2018-04-02 | Implementaspromised | Normalperformance |
| lawsuits/arbitrationofSZCG,ShenzhenFoodMaterialsGroupCo.,Ltd(hereinafterreferredtoas“thecommitmentparty”),thecontrollingshareholderofSZCG,hasmadethefollowingcommitments:IfSZCGanditscontrollingsubsidiariessufferanyclaims,compensation,lossesorexpensesduetotheunsettledmajorlawsuits/arbitrationaboutthecontractdisputeofinternationalsaleofsoybeanwithNobleResourcesCo.,Ltd.andthecontractdisputewithGuangzhouJinheFeedCo.,Ltd.andHuangxianningImportAgent,thecommitmentpartywillassumethecompensationorlosscausedbytheabovetwooutstandingmajorlawsuits/arbitration. | |||||
| ShenzhenAgriculturalPowerGroup | Othercommitments | CommitmentletterofShenzhenFoodMaterialsGroupCo.,Ltd.onrisksofmakingasupplementarypaymentfortherentatearlierstageofPinghuGrainDepot:ShenzhenShenbaoIndustrialCo.,Ltd.intendstopurchasethe100%equityofShenzhenCerealsGroupCo.,Ltd.(hereinafterreferredtoas“SZCG”)heldbytheshareholdersofSZCGthroughissuanceofshares.ShenzhenFoodMaterialsGroupCo.,Ltd.(hereinafterreferredtoas“thecommitmentparty”),thecontrollingshareholderofSZCG,hasmadethefollowingcommitments:IfSZCGneedstomakeasupplementarypaymentfortherentbeforeassessmentbasisdatetothepropertyrightunitofPinghuGrainDepot(oritsauthorizedunit),thetotalamountoftherentandotherrelatedchargesandexpensesshallbebornebythecommitmentparty. | 2018-04-02 | Implementaspromised | Normalperformance |
| ShenzhenAgriculturalPowerGroup | Othercommitments | CommitmentletteronthehousepropertiesofShenzhenCerealsGroupanditssubsidiariesthathavenotobtainedthehousingownershipcertificate:ShenzhenShenbaoIndustrialCo.,Ltd.(hereinafterreferredtoas“Shenshenbao” | 2018-04-02 | Implementaspromised | Normalperformance |
| and“listedcompany”)intendstopurchasethe100%equityofShenzhenCerealsGroupCo.,Ltd.(hereinafterreferredtoas“SZCG”,“targetcompany”)heldbytheshareholdersofSZCGthroughissuanceofshares.ShenzhenFoodMaterialsGroupCo.,Ltd(hereinafterreferredtoas“thecommitmentparty”),thecontrollingshareholderofSZCG,hasmadethefollowingcommitments:IfSZCGanditssubsidiariessufferanyadministrativepunishmentorlossesduetotheirhousepropertieswithoutthehousingownershipcertificate,thecommitmentpartywillbeartherelevantlegalresponsibilitiesandfullycompensatethelistedcompanyandSZCGwithin30workingdaysaftertheactuallossoccurs. | |||||
| ShenzhenAgriculturalPowerGroup | Commitmentonrestrictedsaleofshares | CommitmentonShenzhenFoodMaterialsGroupCo.,Ltdtoaccepttherestrictedsharesofnon-tradablesharesreformofShenzhenShenbaoIndustrialCo.,Ltd.heldbyShenzhenInvestmentHoldingsCo.,Ltd.:ShenzhenFoodMaterialsGroupCo.,Ltd(hereinafterreferredtoas“FoodMaterialsGroup”)accepts79,484,302sharesofAsharesofShenshenbaoA(000019)(including66,052,518sharesofunrestrictedAsharesand13,431,784sharesofrestrictedAshares)heldbyShenzhenInvestmentHoldingsCo.,Ltd.(hereinafterreferredtoas“ShenzhenInvestmentHoldings”)bythefreetransfer,totallyaccountingfor16%ofthetotalsharecapitalofShenshenbao.ShenzhenInvestmentHoldingsmadethefollowingcommitmentsinthereformofnon-tradablesharesofShenshenbaoin2006:“Tomakeeffectiveandlong-termincentivesforthemanagement,afterthecompletionofthesharereform,ShenzhenAgriculturalProductsCo.,Ltd.(hereinafterreferredto | 2018-04-04 | Implementaspromised | Normalperformance |
| as“AgriculturalProducts”)andShenzhenInvestmentHoldings,thecompany’snon-tradableshareholders,willselltheirshareholdingsafterconsiderationwhichaccountfor6%-8%ofthecompany’stotalsharecapitaltothemanagementofthecompanyinthreeyearsbasedontheshareholdingratioofAgriculturalProductsandShenzhenInvestmentHoldingsafterthesharereform(i.e.accountingfor6%-8%ofthecompany’stotalsharecapitalof181,923,088sharesafterthesharereform).”FoodMaterialsGroupmadeacommitmentthatafterthecompletionofthefreetransferofthestate-ownedshares,FoodMaterialsGroupwouldcontinuetoperformtheabovecommitmentsitmadewhenShenzhenInvestmentHoldingsmakesthenon-tradablesharesreformtoShenshenbao,whichiseffectiveinthelongrun. | |||||
| ShenzhenAgriculturalPowerGroup | Commitmentsoninter-industrycompetition,relatedtransactionsandcapitaloccupancy | CommitmentLetteronAvoidingHorizontalCompetition:InviewofthefactthatShenzhenShenbaoIndustrialCo.,Ltd.(hereinafterreferredtoas“ListedCompany”)intendstoacquire100%equityofShenzhenCerealsGroupCo.,Ltd.heldbyShenzhenFoodMaterialsGroupCo.,Ltd(hereinafterreferredtoas“theCompany”)byissuingsharestopurchaseassets,theCompanyhasmadethefollowingcommitments:1.AsoftheissuedateofthisCommitmentLetter,theCompanyandotherenterprisescontrolledbytheCompanyhavenotengagedinanybusinessoractivitythatdirectlyorindirectlyconstitutehorizontalcompetitiontotheListedCompanyanditssubsidiariesinthebusiness,andguaranteesthatitwillnotengageorinduceanyenterprisecontrolledbytheCompanytoengageinanybusinessoractivitythatdirectlyorindirectlyconstitutehorizontalcompetitiontotheListed | 2018-06-08 | Implementaspromised | Normalperformance |
| theListedCompany. | |||||
| ShenzhenAgriculturalPowerGroup | Commitmentsoninter-industrycompetition,relatedtransactionsandcapitaloccupancy | CommitmentLetteronReducingandRegulatingRelatedTransactions:InviewofthefactthatShenzhenShenbaoIndustrialCo.,Ltd.(hereinafterreferredtoas“ListedCompany”)intendstoacquire100%equityofShenzhenCerealsGroupCo.,Ltd.heldbyShenzhenFoodMaterialsGroupCo.,Ltd(hereinafterreferredtoas“theCompany”)byissuingsharestopurchaseassets,theCompanyhasmadethefollowingcommitments:1.TheenterprisesdirectlyorindirectlycontrolledoraffectedbytheCompanyandtherestructuredcompanyanditsholdingcompanieswillregulateandminimizetherelatedtransactions.Forrelatedtransactionsthatcannotbeavoidedorhavereasonablereasonstooccur,theCompanypromisestofollowthemarket-orientedprincipleofjustice,fairnessandopenness,andsignagreementsinaccordancewithrelevantlawsandregulations,regulatorydocumentsandarticlesofassociation,performlegalprocedures,fulfillinformationdisclosureobligationsandhandlerelevantapprovalproceduresinaccordancewiththelaw,andensurenottodamagethelegitimaterightsandinterestsofthecompanyandothershareholdersthroughrelatedtransactions.2.TheenterprisesdirectlyorindirectlycontrolledoraffectedbytheCompanywillstrictlyavoidborrowingfromthecompanyanditsholdingandshareholdingcompanies,occupyingthefundsofthecompanyanditsholdingandshareholdingcompanies,orembezzlingthecompany’sfundsbytakingadvancepaymentsandcompensatorydebtsfromthecompanyanditsholdingandshareholdingcompanies.3.Afterthecompletionofthistransaction,theCompanywillcontinuetoexerciseitsshareholderrightsinstrict | 2018-06-08 | Implementaspromised | Normalperformance |
| accordancewiththerelevantlawsandregulations,regulatorydocumentsandtherelevantprovisionsoftheArticlesofAssociation;andfulfillitsobligationofavoidingvotingwhenthecompany’sgeneralmeetingofshareholdersisvotingonrelatedtransactionsinvolvingtheCompany.4.TheCompanyguaranteesnottoobtainanyimproperintereststhroughtherelatedtransactionsorcausethecompanyanditsholdingandshareholdingcompaniestobearanywrongfulobligations.Ifthecompanyoritsholdingandshareholdingcompaniessufferlosesortheinterestsofthecompanyoritsholdingandshareholdingcompaniesareembezzledbyrelatedtransactions,theCompanywillthelossesofthecompanyanditsholdingandshareholdingcompanies. | |||||
| ShenzhenAgriculturalPowerGroup | Othercommitments | CommitmentontheStandardizedOperationofListedCompany:ShenzhenShenbaoIndustrialCo.,Ltd.intendstopurchase100%equityofShenzhenCerealsGroupCo.,Ltd.(hereinafterreferredtoas“SZCG”)heldbyShenzhenFoodMaterialsGroupCo.,Ltd(hereinafterreferredtoas“theCompany”)throughissuanceofshares.Inresponsetotheabovetransactions,theCompanyhasmadethefollowingcommitments:Afterthecompletionofthistransaction,thecommitmentpartypromisestoensurethatthelistedcompanywillstrictlyfollowtherequirementsoflawsandregulationssuchasthe“GuidelinesfortheGovernanceofListedCompanies”andthechangesininternalmanagementandexternaloperationanddevelopmentoflistedcompanytorevisetheArticlesofAssociationandrelatedrulesofproceduresoastoadapttothebusinessoperationsandcorporategovernancerequirementsafterthereorganization,continuetoimprovethegovernancestructureof | 2018-06-08 | Implementaspromised | Normalperformance |
| regulations,rulesandrelevantprovisionsoftheArticlesofAssociationtoselectindependentdirectors,andfurtherenhancecorporategovernance. | |||||
| ShenzhenAgriculturalPowerGroup | Othercommitments | CommitmentLetterontheLegalComplianceoftheUnderlyingAssetOperation:ShenzhenShenbaoIndustrialCo.,Ltd.(hereinafterreferredtoas“Shenshenbao”,“ListedCompany”)intendstopurchase100%equityofShenzhenCerealsGroupCo.,Ltd.(hereinafterreferredtoas“SZCG”,“TargetCompany”)heldbyShenzhenFoodMaterialsGroupCo.,Ltd(hereinafterreferredtoas“theCompany”)throughissuanceofshares.TheCompanyhasmadethefollowingcommitments:1.TheTargetCompanyisalimitedliabilitycompanyestablishedaccordingtolawandisvalidlyexisting,possessesstatutorybusinessqualifications,andtheTargetCompanyhasobtainedalltheapprovals,consents,authorizationsandlicensesrequiredforitsestablishmentandoperation,andallapprovals,consentsandauthorizationsandlicensesarevalidandthereisnoreasonorcasethatmayresultintheinvalidationoftheaboveapprovals,consents,authorizationsandlicenses.2.TheTargetCompanyhasnomajorviolationsoflawsandregulationsintheproductionandoperationinthelastthreeyears,thereisnocasethattheTargetCompanyshouldbeterminatedaccordingtorelevantlaws,regulations,normativedocumentsandthecompany’sarticlesofassociation.Exceptforlitigations,arbitrationsandadministrativepenaltiesdisclosedintheRestructuringReport,theTargetCompanydoesnothaveanyunsettledorforeseeablemajorlitigation,arbitrationandadministrativepenaltythatadverselyaffectits | 2018-06-08 | Implementaspromised | Normalperformance |
| operationsortheamountismorethan10millionyuan.3.TheTargetCompanywillperformthelaborcontractswithitsemployeesindependentlyandcompletely.4.IftheTargetCompanyissubjecttothefeesorpenaltiesoftherelevantcompetentauthoritiesintermsofindustryandcommerce,taxation,employeesalaries,socialsecurity,housingprovidentfund,businessqualificationsorindustrysupervisorsduetothefactsalreadyexistingbeforethereorganization,theCompanywillfullycompensatealltheoutstandingfeesoftheTargetCompanyandbearallthelossessufferedbyShenshenbaoandtheTargetCompany.5.TheTargetCompanylegallyownstheownershipand/oruserightsoftheoffices,officeequipment,trademarksandotherassetsrequiredfornormalproductionandoperation,hasindependentandcompleteassetsandbusinessstructure,andhaslegalownershipofitsmainassets,andtheownershipofassetsisclear.6.ThereisnocasethattheTargetCompanyimpedesthetransferofownershipofthecompany,suchaslitigation,arbitration,judicialenforcement,etc.,andthereisnoexternalguaranteethatviolatesthelaworthearticlesofassociation.Afterthisreorganization,iftheCompanyviolatestheabovecommitmentsandcauseslossestoShenshenbaoandtheTargetCompany,theCompanyagreestobeartheaforementionedcompensation/liabilityfordamagetoShenshenbao/TargetCompany. | |||||
| ShenzhenAgriculturalPowerGroup | Othercommitments | CommitmentontheIndependenceofListedCompany:InviewofthefactthatShenzhenShenbaoIndustrialCo.,Ltd.(hereinafterreferredtoas“Shenshenbao”)intendstoacquire100%equityofShenzhenCerealsGroupCo.,Ltd.(hereinafterreferredtoas“Target | 2018-06-08 | Implementaspromised | Normalperformance |
| Company. | ||||||
| ShenzhenAgriculturalPowerGroup,AgriculturalProducts | Commitmentsoninter-industrycompetition,relatedtransactionsandcapitaloccupancy | CommitmenttoAvoidOccupationofNon-operatingCapital:ShenzhenShenbaoIndustrialCo.,Ltd.intendstoacquire100%equityofShenzhenCerealsGroupCo.,Ltd.(hereinafterreferredtoas“SZCG”)heldbyShenzhenFoodMaterialsGroupCo.,Ltd(hereinafterreferredtoas“theCompany”)throughissuanceofshares.Inresponsetotheabovetransactions,FoodMaterialsGroupandAgriculturalProductshavemadethefollowingcommitments:1.Asoftheissuedateofthiscommitmentletter,thecommitmentpartyanditsrelatedpersondonothaveanyillegaluseoffundsandassetsofthelistedcompanyandSZCG,andthereisnocasethatthelistedcompanyandSZCGprovideillegalguaranteeforthecommitmentpartyanditsrelatedperson.2.Afterthecompletionofthetransaction,thecommitmentpartyguaranteesthatthecommitmentpartyanditsrelatedpersonshallnotillegallyoccupythefundsandassetsofthelistedcompanyinanyway,norrequirethelistedcompanytoprovideillegalguaranteeforthecommitmentpartyanditsrelatedpersonunderanycircumstances,norengageinanyacttodamagethelegitimaterightsandinterestsofthelistedcompanyandothershareholders.Ifthecommitmentpartyviolatestheabovecommitments,itwillbearalllossescausedtothelistedcompanyandthetargetcompanyandothercompaniesandenterprisescontrolledbythemorothereconomicorganizations. | 2018-06-08 | Implementaspromised | Normalperformance | |
| Completedontime(Y/N) | Y | |||||
2.ForassetsorprojectsoftheCompanywhichkeepprofitableforecastduringthereportingperiod,descriptionreasonsforreachingtheoriginalprofitableforecast
□Applicable?Notapplicable
II.Non-operationalfundoccupationbycontrollingshareholdersandtheirrelatedparties
□Applicable?NotapplicableNonon-operationalfundoccupationbycontrollingshareholdersandtheirrelatedpartiesinperiod.
III.Externalguaranteeoutofregulations
□Applicable?NotapplicableNoexternalguaranteeoutoftheregulationsoccurredintheperiod.
IV.Statementonthelatest“modifiedauditreport”byBOD
□Applicable?NotapplicableV.ExplanationfromtheBOD,theboardofsupervisorsandindependentdirectors(ifapplicable)for“QualifiedAuditOpinion”issuedbyCPA
□Applicable?Notapplicable
VI.Explanationonchangesinaccountingpolicies,accountingestimatesorcorrectionofsignificantaccountingerrorscomparedwiththefinancialreportofthepreviousyear?Applicable□NotapplicableTherewerenochangesinaccountingpolicies,accountingestimatesorcorrectionofsignificantaccountingerrorscomparedwiththefinancialreportofthepreviousyear.VII.Explanationofchangesinthescopeoftheconsolidatedfinancialstatementscomparedtothepreviousyear’sfinancialreports?Applicable□NotapplicableInthisperiod,thecompanytransferredWuhanJiachengBiologicalProductsCo.,Ltd.andZhenpinMarketOperationTechnologyCo.,Ltd.,andderegisteredHangzhouJuFangYongHoldingsCo.,Ltd.,YunnanPu’erTeaTradingCenterCo.,Ltd.,andShenzhenShenbaoIndustryandTradeCo.,Ltd.VIII.AppointmentanddismissalofCPAAccountingfirmappointed
| Nameofdomesticaccountingfirm | GrantThorntonCertifiedPublicAccountantLLP(SpecialGeneralPartnership) |
| Remunerationfordomesticaccountingfirm(in10thousandYuan) | 70 |
| Continuouslifeofauditingservicefordomesticaccountingfirm | 2 |
| NameofdomesticCPA | GaoHong,ShuZhicheng |
| ContinuouslifeofauditingservicefordomesticCPA | 2,1 |
Whetherre-appointedaccountingfirmsinthisperiodornot?
□Yes?No
Appointmentofinternalcontrolauditingaccountingfirm,financialconsultantorsponsor?Applicable□NotapplicableDuringthereportingperiod,thecompanyhiredGrantThorntonCertifiedPublicAccountantLLP(SpecialGeneralPartnership)toperforminternalauditandpaidatotalofRMB200,000.00ininternalcontrolauditfees.IX.Particularaboutdelistingafterannualreportdisclosed
□Applicable?NotapplicableX.Bankruptcyreorganization
□Applicable?NotapplicableNobankruptcyreorganizationfortheCompanyinreportingperiod
XI.SignificantlawsuitsandarbitrationoftheCompany
?Applicable□Notapplicable
| Lawsuits(arbitration) | Amountinvolved(in10thousandyuan) | Resultinginanaccrualliability(Y/N) | Progress | Resultandinfluence | Executionofjudgment | Disclosuredate | Disclosureindex |
| Asof31December2024,otherlawsuitsthatdidnotmeetthedisclosurestandardsforsignificantlawsuitsmainlyincludeddisputesoversalescontracts,loancontracts,constructioncontracts,legalservicecontracts,leasecontracts,etc. | 7,628.8 | N | TheCompanyactivelymakesuseoftheadvantageousresourcesofinternallegalaffairsandexternallawsfirmtofollowupanddealwiththelawsuit-relatedcases.Atpresent,theCompanyisrespondingtoanddealingwiththecaseseffectivelyinaccordancewithrelevantlawsandregulations | Aftercomprehensiveanalysis,theresultofthecasesinvolvedinthelawsuitswillnothaveasignificantimpactontheCompany | Itisactivelyadvancing | -- |
XII.Penaltyandrectification
□Applicable?NotapplicableNopenaltyandrectificationfortheCompanyinreportingperiod.
XIII.IntegrityoftheCompany,itscontrollingshareholderandactualcontroller
□Applicable?Notapplicable
XIV.Majorrelatedtransaction
1.Relatedtransactionwithroutineoperationconcerned
□Applicable?NotapplicableThecompanyhadnorelatedtransactionwithroutineoperationconcernedattheendofthereportingperiod.
2.Assetsorequityacquisition,andsalesofassetsandequity?Applicable?Notapplicable
| Relatedparties | Relatedrelationships | Typeofrelatedpartytransaction | Contentofrelatedpartytransaction | Pricingprinciplesforrelatedpartytransactions | Bookvalueoftransferredassets(10000yuan) | Assessedvalueoftransferredassets(10000yuan) | Transferprice(10000yuan) | Settlementmethodofrelatedpartytransaction | Tradinggains/losses(10000yuan) | Disclosuredate | Disclosureindex |
| ShenliangIntelligentWulianEquityInvestmentFund(Shenzhen)PartnershipEnterprise(Limited) | Jointventureofthecompany | Acquisitionofminorityequity | Minorityequityacquisition | Marketprice | 2,876.52 | 2,885.60 | 2,885.60 | Banktransfer | 0 | ||
| ShenzhenZhenpinGroupCo.,Ltd | Thesubsidiaryoftheactualcontrollerofthecompany,alsocontrolledbytheultimatecontroller | Transactionrelatedwithequitytransfer | Equitytransfer | Marketprice | 247.05 | 451.71 | 397.73 | Banktransfer | 150.68 | ||
| ShenzhenAgriculturalPowerGroup | Holdingcompanyofthecompany | Transactionrelatedwithequityacquisition | Equityacquisition | 434.42 | 389.97 | 415.25 | Banktransfer | 0 | |||
| Reasonsforsignificantdifferencesbetweentransferpriceandbookvalueorassessedvalue(ifany) | Appreciationofassessment | ||||||||||
| Theimpactonthecompany'soperating | Nosignificantimpact | ||||||||||
| resultsandfinancialcondition | |
| Iftherelevanttransactionsinvolveperformanceagreements,theachievementofperformanceduringthereportingperiod | NA |
3.Relatedtransactionofjointforeigninvestment
□Applicable?NotapplicableNorelatedtransactionofjointforeigninvestmentoccurredintheperiod
4.Relatedcreditsandliabilities
□Applicable?NotapplicableNorelatedcreditsandliabilitiesoccurredinperiod
5.Contactwiththerelatedfinancecompanies
□Applicable?NotapplicableTherearenodeposits,loans,creditsorotherfinancialbusinessesbetweenthefinancecompanieswithassociatedrelationshipandrelatedparties
6.TransactionsbetweenthefinancecompanycontrolledbytheCompanyandrelatedparties
□Applicable?NotapplicableTherearenodeposits,loans,creditsorotherfinancialbusinessbetweenthefinancecompaniescontrolledbytheCompanyandrelatedparties
7.Othermajorrelatedtransaction
□Applicable?NotapplicableNoothermajorrelatedtransactioninthePeriod.
XV.Significantcontractandimplementation
1.Trusteeship,contractandleasing
(1)Trusteeship
□Applicable?NotapplicableNotrusteeshipfortheCompanyinreportingperiod
(2)Contract
□Applicable?NotapplicableNocontractfortheCompanyinreportingperiod
(3)Leasing
□Applicable?NotapplicableNoleasinginthePeriod
2.MajorGuarantee
?Applicable?Notapplicable
3.Entrustedcashassetmanagement
(1)Entrustedfinancing
?Applicable□NotapplicableEntrustedfinancingintheperiod
Unit:10thousandyuan
| Type | Fundsources | Amountoccurred | Unduebalance | Overdueamount | Impairmentprovisionaccrualforoverduefinancialmanagement |
| Bankfinancialproducts | Ownedfund | 34,500 | 0 | 0 | 0 |
| Total | 34,500 | 0 | 0 | 0 | |
Detailsofhigh-risktrustfinancingwithsignificantindividualamounts,lowsafetyorliquidity
□Applicable?NotapplicableExpectedinabilitytorecovertheprincipaloftrustfinancingorothersituationsthatmayleadtoimpairmentintrustingfinancing
□Applicable?Notapplicable
(2)Entrustedloans
□Applicable?NotapplicableNoentrustedloansinthePeriod
4.Othermaterialcontracts
□Applicable?NotapplicableNoothermaterialcontractsintheperiod.
XVI.Explanationonothersignificantevents?Applicable□Notapplicable
1.PersonnelchangesinBOD,BOSandseniorexecutives
(1)OnNovember27,2024,theboardofdirectorsofthecompanyreceivedawrittenresignationapplicationsubmittedbyMr.HuXianghai,DeputySecretaryofthePartyCommittee,DirectorandGMofthecompany.Duetoreachingthelegalretirementage,Mr.HuXianghaiappliedtoresignfromthepositionsofdirectorandGMofthecompany,andwillnolongerholdanyotherpositionsinthecompanyafterresignation.Fordetails,pleaserefertotheAnnouncementoftheCompanyontheRetirementandDepartureofDirectorsandGMpublishedonJuchaowebsite(www.cninfo.com.cn)onNovember28,2024.
XVII.SignificanteventofsubsidiariesoftheCompany?Applicable?Notapplicable
1.OnAugust23,2024,theCompanyconvenedthe9
th
meetingofthe11
th
sessionoftheBoardofDirectors,deliberatedandapprovedtheProposalontheAcquisitionof49%MinorityShareholders’EquityofShuangyashanShenliangCerealsBaseCo.,Ltd.byShenzhenHualianGrainandOilTradingCo.,Ltd.TheCompanyagreedthatitswholly-ownedsubsidiary,ShenzhenHualianGrainandOilTradingCo.,Ltd.,toacquire49%equityofShuangyashanShenliangCerealsBaseCo.,Ltd.heldbyShenliangIntelligentWulianEquityInvestmentFund(Shenzhen)PartnershipEnterprise(Limited)attheconsiderationof28,856,000.00yuan.Fordetails,pleaserefertotheAnnouncementontheResolutionofthe9
thMeetingofthe11
th
sessionoftheBoardofDirectorsoftheCompanypublishedonJuchaoWebsite(www.cninfo.com.cn)onAugust27,2024.
2.OnDecember30,2024,theCompanyconvenedthe12
th
Meetingofthe11
th
sessionoftheBoardofDirectors,deliberatedandapprovedtheProposalontheCapitalIncreaseProjectofShenzhenShenliangBigKitchenFoodSupplyChainCo.,Ltd.bySZCGandtheProposalontheCapitalIncreaseProjectofShenzhenHualianGrainandOilTradingCo.,Ltd.bySZCGTheCompanyagreedthatitsfirst-levelwholly-ownedsubsidiary,SZCG,woulduseitsownfundstorespectivelyincreasethecapitalofthesecond-levelwholly-ownedsubsidiaryShenzhenShenliangBigKitchenFoodSupplyChainCo.,Ltd(hereinafterreferredtoas“BigKitchen”）by10,000,000.00yuanandthesecond-levelwholly-ownedsubsidiaryShenzhenHualianGrainandOilTradingCo.,Ltd.(hereinafterreferredtoas“HualianCompany”)by200,000,000.00yuan.Afterthecompletionofthiscapitalincrease,theregisteredcapitalofBigKitchenwillbeincreasedfrom10,000,000.00yuanto20,000,000.00yuan,andtheregisteredcapitalofHualianCompanywillbeincreasedfrom100,000,000.00yuanto300,000,000.00yuan.Fordetails,pleaserefertotheAnnouncementontheResolutionofthe12
th
Meetingofthe11
th
sessionoftheBoardofDirectorsoftheCompanyandtheAnnouncementonCapitalIncreaseofWholly-OwnedSubsidiariesbytheCompanypublishedontheJuchaowebsite(www.cninfo.com.cn)onDecember31,2024.
SectionVII.ChangesinSharesandParticularsabout
ShareholdersI.Changesinshares
1.Changesinshares
Unit:Share
| BeforetheChange | Increase/DecreaseintheChange(+/-) | 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.Domesticlistedforeignshares | 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?NotapplicableInfluenceofchangesinshareonbasicEPS,dilutedEPSaswellasotherfinancialindexesofnetassetspershareattributabletocommonshareholdersoftheCompanyinlatestyearandperiod
□Applicable?NotapplicableOtherinformationnecessarytobedisclosedintheviewpointoftheCompanyorthatrequiredtobedisclosedbysecuritiesregulators
□Applicable?Notapplicable
2.Changesinrestrictedshares
□Applicable?Notapplicable
II.Securitiesissuanceandlisting
1.Securityoffering(withoutpreferredstock)inthereportingperiod
□Applicable?Notapplicable
2.Explanationonchangesintotalshares,shareholdersstructure,aswellasassetsandliabilitystructureofthecompany
□Applicable?Notapplicable
3.Existinginternalstaffshares
□Applicable?Notapplicable
III.ParticularsaboutshareholdersandactualcontrolleroftheCompany
1.Numberofshareholdersandparticularsaboutsharesholding
Unit:Share
| Totalcommonstockshareholdersattheendofreportingperiod | 42,977 | Totalcommonstockshareholdersattheendoflastmonthbeforeannualreportdisclosed | 41,498 | Totalpreferredshareholderswithvotingrightsrecoveredattheendofreportingperiod(ifapplicable)(refertoNote8) | 0 | Totalpreferredshareholderswithvotingrightsrecoveredatendoflastmonthbeforeannualreportdisclosed(ifapplicable)(referto | 0 |
| Note8) | ||||||||
| Shareholdingofshareholdersholdingmorethan5%sharesofthecompanyortoptenshareholders(Excludingshareslentthroughrefinancing) | ||||||||
| NameofShareholders | Natureofshareholder | Proportionofsharesheld | Totalsharesheldattheendofreportingperiod | Changesinreportingperiod | Quantityofrestrictedsharesheld | Quantityofunrestrictedsharesheld | Informationofsharespledged,taggedorfrozen | |
| Stateofshare | Quantity | |||||||
| ShenzhenAgriculturalPowerGroupCo.,Ltd. | State-ownedlegalperson | 63.79% | 735,237,253 | 0 | 669,184,735 | 66,052,518 | NA | 0 |
| ShenzhenAgriculturalProductsGroupCo.,Ltd | State-ownedlegalperson | 8.23% | 94,832,294 | 0 | 15,384,832 | 79,447,462 | NA | 0 |
| DongguanFruit,Vegetable,andNon-stapleFoodTradingMarketCo.,Ltd | Domesticnon-state-ownedlegalperson | 0.75% | 8,698,216 | 0 | 0 | 0 | NA | 0 |
| HongKongSecuritiesClearingCompany | Foreignlegalperson | 0.48% | 5,492,845 | 39,652 | 0 | 0 | NA | 0 |
| ChenJiuyang | Domesticnatureperson | 0.29% | 3,297,070 | 386,000 | 0 | 0 | NA | |
| ZhongZhenxin | Domesticnatureperson | 0.29% | 3,295,500 | 0 | 0 | 0 | NA | |
| SunHuiming | Domesticnatureperson | 0.28% | 3,236,352 | -370,300 | 0 | 0 | NA | 0 |
| CMB-SouthernCSI1000TradingOpen-EndIndexSecuritiesInvestmentFund | Other | 0.24% | 2,726,700 | 2,257,200 | 0 | 0 | NA | 0 |
| BankofChinaFund-PostalSavingsBankofChina-BankofChinaFund-ZhongchengxinDividendDefenseStockIndexCollectiveAssetManagementPlan | Other | 0.14% | 1,579,400 | 1,579,400 | 0 | 0 | NA | 0 |
| CMB-WanjiaCSI1000IndexEnhancedInitiatedSecuritiesInvestmentFund | Other | 0.13% | 1,536,800 | 1,536,800 | 0 | 0 | NA | |
| Strategyinvestorsorgenerallegalpersonbecomingtop10commonshareholdersduetorightsissue(ifapplicable)(seenote3) | Nil | |||
| Explanationonassociatedrelationshipamongtheaforesaidshareholders | ShenzhenSASACdirectlyholds100%equityofShenzhenAgriculturalPowerGroupCo.,Ltd.,andholds34%equityofShenzhenAgriculturalProductsGroupCo.,Ltd.indirectlythroughShenzhenAgriculturalPowerGroupCo.,Ltd.;TheCompanywasnotawareofanyrelatedrelationshipbetweenothershareholdersabove,andwhethertheyarepartiesactinginconcertasdefinedbytheAcquisitionManagementMethodofListedCompany. | |||
| Descriptionoftheaboveshareholdersinvolvedwithdelegating/entrustedvotingrightsandabstentionfromvotingrights. | Nil | |||
| Specialnoteontherepurchaseaccountamongthetop10shareholders(ifapplicable)(seenote10) | Nil | |||
| Particularabouttoptenshareholdersholdingunrestrictedshares(Excludingshareslentthroughrefinancing,locked-upsharesforseniorexecutives) | ||||
| Shareholders’name | QuantityofunrestrictedsharesheldatPeriod-end | Typeofshares | ||
| Type | Quantity | |||
| ShenzhenAgriculturalProductsGroupCo.,Ltd | 79,447,462 | RMBcommonshares | 79,447,462 | |
| ShenzhenAgriculturalPowerGroupCo.,Ltd. | 66,052,518 | RMBcommonshares | 66,052,518 | |
| DongguanFruit,Vegetable,andNon-stapleFoodTradingMarketCo.,Ltd | 8,698,216 | RMBcommonshares | 8,698,216 | |
| HongKongSecuritiesClearingCompany | 5,492,845 | RMBcommonshares | 5,492,845 | |
| ChenJiuyang | 3,297,070 | RMBcommonshares | 3,297,070 | |
| ZhongZhenxin | 3,295,500 | RMBcommonshares | 3,295,500 | |
| SunHuiming | 3,236,352 | Domesticallylistedforeignshares | 3,236,352 | |
| CMB-SouthernCSI1000TradingOpen-EndIndexSecuritiesInvestmentFund | 2,726,700 | RMBcommonshares | 2,726,700 | |
| BankofChinaFund-PostalSavingsBankofChina-BankofChinaFund-ZhongchengxinDividendDefenseStockIndexCollectiveAssetManagementPlan | 1,579,400 | RMBcommonshares | 1,579,400 | |
| CMB-WanjiaCSI1000IndexEnhancedInitiatedSecuritiesInvestmentFund | 1,536,800 | RMBcommonshares | 1,536,800 | |
| Explanationoftheassociationorconcertedactionbetweenthetop10shareholdersofnon-restrictedandtradableshares,aswellasbetweenthetop10shareholdersofnon-restrictedandtradablesharesandthetop10shareholders | ShenzhenSASACdirectlyholds100%equityofShenzhenAgriculturalPowerGroupCo.,Ltd.,andholds34%equityofShenzhenAgriculturalProductsGroupCo.,Ltd.indirectlythroughShenzhenAgriculturalPowerGroupCo.,Ltd.;TheCompanywasnotawareofanyrelatedrelationshipbetweenothershareholdersabove,andwhethertheyarepartiesactinginconcertasdefinedbytheAcquisitionManagementMethodofListedCompany. | |||
| Explanationontheparticipationofthetop10ordinaryshareholdersinmargintradingandsecuritieslendingbusiness(ifany)(seeNote4) | Nil | |||
Shareholderswithover5%ofshares,toptenshareholders,andtoptenshareholdersofun-restrictsharesparticipateinthelendingofsharesthroughrefinancing
□Applicable?NotapplicableThetop10shareholdersandthetop10shareholdersofun-restrictedtradableshareshavechangedcomparedtothepreviousperiodduetothereasonsoflending/returningofsharesthroughrefinancing
□Applicable?NotapplicableWhethertoptencommonstockshareholdersortoptencommonstockshareholdersofun-restrictshareshaveabuy-backagreementdealinginreportingperiodornot?
□Yes?NoThetoptencommonstockshareholdersortoptencommonstockshareholdersofun-restrictsharesdidn’thavebuy-backagreementdealinginreportingperiod.
2.ControllingshareholderoftheCompany
Natureofcontrollingshareholders:localstate-ownedholdingTypeofcontrollingshareholders:legalperson
| Controllingshareholder | Legalperson/personinchargeoftheunit | Dateofestablishment | Organizationcode | Mainoperationbusiness |
| ShenzhenAgriculturalPowerGroupCo.,Ltd. | HuangWei | Dec.14,2017 | 91440300MA5EWWPXX2 | Thegeneralbusinessprojectsare:foodsafetyinfrastructureconstruction(includingtheupgradingofthefarmers’market,theupgradingofpublicplacescanteens,theconstructionofcommunitycookedfoodcenters,andtheconstructionofagriculturalproductbases);safefoodcirculationandterminalsales;theestablishmentoffooddistributionchannelplatforms;Foodindustryinvestmentandoperation(IncludingtheM&Ainvestmentofthecoreresourcesofthefoodindustrychainandthecultivationofenterprisesinthefuturedirection);Domestictrade(excludingfranchised,monopolized,andexclusivelycontrolledcommodities);engaginginimportandexportbusiness(exceptforitemsprohibitedbylaws,administrativeregulations,andtheStateCouncil,restricteditemscanonlybeoperatedafterobtainingpermission);onlinebusinessactivities(excludingrestricteditems).Licensedbusinessitemsarefoodsalesandsupplybusiness;emergencymaterialproductionandoperation;production,purchaseandsaleofI,IIandIIImedicaldevices;pharmaceuticalwholesale;ordinaryfreight,professionaltransportation,warehousingandlogistics. |
| Equityofotherdomesticandforeignlistedcompaniescontrolledandparticipatedinbycontrollingshareholdersduringthereportingperiod | Inadditiontoholding63.79%equityofthecompany,ShenzhenAgriculturalPowerGroupCo.,Ltd.holds34%equityofAgriculturalProducts. | |||
Changesofcontrollingshareholderinreportingperiod
□Applicable?NotapplicableThecontrollingshareholderofthecompanyhasnotchangedduringthereportingperiod.
3.ActualcontrollerandpersonsactinginconcertNatureofactualcontroller:localstate-ownedassetsmanagementTypeofactualcontroller:legalperson
| Actualcontroller | Legalperson/personinchargeoftheunit | Dateofestablishment | Organizationcode | Mainoperationbusiness |
| ShenzhenMunicipalPeople’sGovernmentState-ownedAssetsSupervision&AdministrationCommission | WangYongjian | 2004-04-02 | 11440300K317280672 | State-ownedassetssupervisionandmanagement |
| Equityofotherdomestic/foreignlistedcompaniescontrolledbytheactualcontrollerinreportingperiod | - | |||
Changesofactualcontrollerinreportingperiod
□Applicable?NotapplicableNochangesofactualcontrollersoftheCompanyinreportingperiod.PropertyrightandcontrollingrelationshipbetweentheactualcontrollerandtheCompanyisasfollow
TheactualcontrollercontrollingtheCompanybyentrustorotherassetsmanagement
□Applicable?Notapplicable
4.Thetotalnumberofsharespledgedbythecontrollingshareholderorthefirstmajorityshareholderanditspersonsactinginconcertaccountsfor80%ofthesharesheldbythem
□Applicable?Notapplicable
5.Particularsaboutotherlegalpersonshareholderswithover10%sharesheld
□Applicable?Notapplicable
ShenzhenMunicipalPeople’sGovernmentState-ownedAssetsSupervision&AdministrationCommission
ShenzhenAgriculturalPowerGroupCo.,Ltd.
ShenzhenAgriculturalPowerGroupCo.,Ltd.ShenzhenCerealsHoldingsCo.,Ltd
ShenzhenCerealsHoldingsCo.,LtdShenzhenAgriculturalProductsGroupCo.,Ltd.
6.Restrictiononshareholdingreductionofthecontrollingshareholder,actualcontroller,reorganizers,andotherpromisingentities
□Applicable?Notapplicable
IV.Thespecificimplementationofsharesbuy-backduringthereportingperiod
Implementationprogressofsharesbuy-back
□Applicable?NotapplicableProgressinimplementingcentralizedbiddingtradingtoreduceholdingsofrepurchaseshares
□Applicable?Notapplicable
SectionVIII.PreferredStocks
□Applicable?NotapplicableTheCompanyhadnopreferredstockinthePeriod.
SectionIX.CorporateBonds
□Applicable?Notapplicable
SectionX.FinancialReportI.AuditReport
| Typeofauditopinion | Standardunqualifiedopinion |
| Signingdateofauditreport | 2025-04-28 |
| Nameofauditinstitute | GrantThorntonCertifiedPublicAccountantLLP(SpecialGeneralPartnership) |
| Documentserialofauditreport | ZHTSH[2025]No.441A020235 |
| NameoftheCPA | GaoHong,ShuZhicheng |
TextofAuditor’sReport
ZHTSH[2025]No.441A020235ToallshareholdersofSHENZHENCEREALSHOLDINGSCO.,LTD.:
1.AuditingopinionsWehaveauditedthefinancialstatementunderthenameofSHENZHENCEREALSHOLDINGSCO.,LTD.(hereinafterreferredtoas“SZCH”),includingtheconsolidatedandparentCompany’sbalancesheetofDecember31,2024andprofitstatement,andcashflowstatement,andstatementonchangesofshareholders’equityfortheyearended,andnotestothefinancialstatementsfortheyearended.Inouropinion,theCompany’sfinancialstatementshavebeenpreparedinaccordancewiththeAccountingStandardsforBusinessEnterprises,andtheyfairlypresentthefinancialstatusoftheCompanyandofitsparentcompanyasofDecember31,2024anditsoperationresultsandcashflowsfortheyearended.
2.BasisofopinionWeconductedourauditinaccordancewiththeAuditingStandardsforCertifiedPublicAccountantsofChina.Ourresponsibilitiesunderthosestandardsarefurtherdescribedinthe“Auditor’sResponsibilitiesfortheAuditoftheFinancialStatements”sectionoftheauditor’sreport.WeareindependentoftheCompanyinaccordancewiththeCertifiedPublicAccountantsofChina’sCodeofEthicsforProfessionalAccountants,andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeCode.Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforouropinion.
3.KeyauditmattersKeyauditmattersarethosemattersthat,inourprofessionaljudgment,wereofmostsignificanceinourauditofthefinancialstatementsofthecurrentperiod.Thesematterswereaddressedinthecontextofourauditofthefinancialstatementsasawhole,andinformingouropinionthereon,andwedonotprovideaseparateopiniononthismatter.Thekeyauditmattersidentifiedinourauditaresummarizedasfollows:
(i)RevenuerecognitionFormoredetailsoftherelevantinformation,pleaserefertoNoteV.27andNoteVII.40offinancialstatements.
1.MatterdescriptionThemainbusinessofSZCHincludegrainandoiltradeandprocessingincome,grainandoilwarehousinglogisticsandserviceincome,foodandbeverageandteaprocessingincome,leasingandotherincome.SZCHoperatingrevenuefor2024is
5,375,089,846.91yuananditisoneofthekeyindexesofperformanceofSZCH,whichhasinherentrisksinmanipulationforachievingthepredictedtarget,therefore,theidentificationofoperatingincomewillbelistedasthekeyauditingevent.
2.AuditresponseTheauditprocedureswehaveimplementedforthiskeyauditmattermainlyinclude:
(1)Understand,evaluate,andtestthedesignandoperationaleffectivenessofinternalcontrolrelatedtorevenue;
(2)Understandthebusinessmodelsandacceptancetermsofdifferentbusinesses,inspectthemainsalescontracts,identifythetermsrelatedtothetransferofcommoditycontrolrights,andevaluatewhethertherevenuerecognitionpolicycomplieswiththeprovisionsoftheEnterpriseAccountingStandards;
(3)Performanalyticalreviewproceduresonoperatingrevenue,analyzechangesinoperatingrevenue,costs,andgrossprofit
marginonamonthlyandproductbasis,identifysignificantorabnormalfluctuations,understandthereasonsforabnormalsituations,andevaluatetheirreasonableness;
(4)Searchforbasicinformationofmajorclientsornewlyaddedmajorclientsthroughpublicchannels,conducton-sitevisitsto
majorclients,enquireabouttransactioncontent,cooperationmode,transactionamount,acceptanceterms,andrelatedrelationships,andverifytheauthenticityandcommercialsubstanceoftheirtransactions,Focusoncheckingwhethertherearefinancingtradeswithoutrealtransactions;
(5)Sampleinspectsupportingdocumentsrelatedtorevenueconfirmation,includingsalescontracts,salesinvoices,outbound
orders,transferofownershipdocuments,proofofdelivery,accountingvouchers,etc;
(6)Sampletoconfirmthecurrentsalesrevenueandtheinitialandfinalbalancesofaccountsreceivableandpayabletomajor
customers,newcustomers,etc.;
(7)Conductacut-offtestontheoperatingincomeclosetothebalancesheetdate,evaluatewhethertheoperatingincomeisrecordedintheappropriateaccountingperiod.(ii)InventoriesandlossallowanceofinventoriesFormoredetailsofinventoriesandLossallowanceofinventories,pleaserefertoNoteV.13andNoteVII.7ofconsolidatedfinancialstatements.
1.MatterdescriptionAsofDecember31,2024,thebookvalueofinventorypresentedontheconsolidatedfinancialstatementsofSZCHwas4,154,400,919.61yuan,andthelossallowanceofinventorieswas109,402,277.09yuan,thecarryingamountofinventorieswas4,044,998,642.52yuan,accountingfor52.43%ofthetotalassets.Duetothesignificantamountofinventories,SZCHmanagement(Hereinafterreferredtoas“management”)neededtomakesignificantjudgmentswhendeterminingthedecreaseinvalueofinventories,includingtheconsiderationofgovernmentreservesuchasasgrain&oil,foodandvegetableoilwhichareaffectedbyfuturesmarket,Theseimportantjudgmentshaveasignificantimpactonthevaluationofinventoriesandlossallowanceofinventoriesatperiod-end;therefore,wedeterminedtheinventoriesandlossallowanceofinventoriesaskeyauditmatters.
2.AuditresponseTheauditprocedureswehaveimplementedforthiskeyauditmattermainlyinclude:
(1)Understand,evaluate,andtestthedesignandoperationaleffectivenessofinternalcontrolrelatedtoinventory;
(2)Understandthebusinessmodelsofreservegrainandcommoditygrain,verifythematchingbetweeninventorystructureandoperatingincome,andanalyzetherationalityofinventoryamounts;
(3)Reviewthemanagement’smodelandmethodforestimatingthenetrealizablevalueofinventory,aswellastherelevantparametersused.Forproductsthatcanobtainpubliclyavailablemarketsalesprices,selectasample,independentlyquerypubliclyavailablemarketpriceinformation,andcompareitwiththeestimatedsellingprice.
(4)Implementmonitoringprocedureforinventory,checkitsquantityandcondition,andimplementalternativeproceduresforfumigationwarehouses;
(5)Obtainthecalculationtableforlossallowanceofinventoriesandinventoryagelist,executeinventoryimpairmenttesting
procedures,andanalyzewhethertheprovisionforinventorydepreciationreservesissufficient,conductananalyticalreviewofinventorywithalongerinventoryagebasedontheconditionoftheproduct,andanalyzewhethertheprovisionforinventorydepreciationisreasonable.
4.OtherinformationThemanagementofSZCH(hereinafterreferredtoas“themanagement”)isresponsibleforotherinformationwhichincludestheinformationcoveredintheCompany’s2024annualreportexcludingthefinancialstatementandourauditreport.Theauditopinionissuedbyusforthefinancialstatementhasnotcoveredotherinformation,forwhichwedonotissueanyformofassuranceopinions.Consideringourauditonfinancialstatements,weareliabletoreadotherinformation,duringwhich,weshallconsiderwhetherotherinformationdiffersmateriallyfromthefinancialstatementsorthatweunderstandduringouraudit,orwhetherthereisanymaterialmisstatement.Basedontheworksexecutedbyus,weshouldreportthefactifwefindanymaterialmisstatementinotherinformation.Inthisregards,wehavenothingtoreport.
5.ResponsibilitiesofthemanagementandthosechargedwithgovernanceforthefinancialstatementsThemanagementofSZCHisresponsibleforthepreparationofthefinancialstatementsinaccordancewiththeAccountingStandardsforEnterprisetosecureafairpresentation,andforthedesign,establishmentandmaintenanceoftheinternalcontrolnecessarytoenablethepreparationoffinancialstatementsthatarefreefrommaterialmisstatement,whetherduetofraudorerror.Inpreparingthefinancialstatements,themanagementisresponsibleforassessingtheCompany’sabilitytocontinueasagoingconcern(ifapplicable),disclosingmattersrelatedtogoingconcernandusingthegoingconcernassumptionunlessthemanagementeitherintendstoliquidatetheCompanyortoceaseoperations,orhasnorealisticalternativebuttodoso.ThosechargedwithgovernanceareresponsibleforoverseeingtheCompany’sfinancialreportingprocess.
6.ResponsibilitiesoftheauditorforthefinancialstatementsOurobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditreportthatincludesourauditopinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordancewiththeCASwillalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisofthefinancialstatements.AspartofanauditinaccordancewiththeCAS,weexerciseprofessionaljudgmentandmaintainprofessionalskepticismthroughouttheaudit.Wealso:
(1)Identifyandassesstherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror,designand
performauditproceduresresponsivetothoserisks,andobtainauditevidencethatissufficientandappropriatetoprovidea
basisforauditopinion.Theriskofnotdetectingamaterialmisstatementresultingfromfraudishigherthanforoneresultingfromerror,asfraudmayinvolvecollusion,forgery,intentionalomissions,misrepresentations,ortheoverrideofinternalcontrol.
(2)Obtainanunderstandingofinternalcontrolrelevanttotheauditinordertodesignauditproceduresthatareappropriateinthecircumstances
(3)Evaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesandrelateddisclosures
madebythemanagement.
(4)Concludeontheappropriatenessofthemanagement’suseofthegoingconcernassumptionand,basedontheauditevidence
obtained,whetheramaterialuncertaintyexistsrelatedtoeventsorconditionsthatmaycastsignificantdoubtontheCompany’sabilitytocontinueasagoingconcern.Ifweconcludethatamaterialuncertaintyexists,wearerequiredbytheCAStodrawusers’attentioninauditreporttotherelateddisclosuresinthefinancialstatementsor,ifsuchdisclosuresareinadequate,tomodifyauditopinion.Ourconclusionsarebasedontheinformationobtaineduptothedateofauditreport.However,futureeventsorconditionsmaycausetheCompanytoceasetocontinueasagoingconcern.
(5)Evaluatetheoverallpresentation,includingthedisclosures,structureandcontentofthefinancialstatementsandwhetherthefinancialstatementsrepresenttheunderlyingtransactionsandeventsinamannerthatachievesfairpresentation.
(6)ObtainsufficientappropriateauditevidenceregardingthefinancialinformationoftheentitiesorbusinessactivitieswithintheCompanytoexpressauditopiniononthefinancialstatements.Weareresponsibleforthedirection,supervisionandperformanceofthegroupaudit.Weremainsolelyresponsibleforauditopinion.Wecommunicatewiththosechargedwithgovernanceregarding,amongothermatters,theplannedscopeandtimingoftheauditandsignificantauditfindings,includinganysignificantdeficienciesininternalcontrolthatweidentifyduringouraudit.Wealsoprovidethosechargedwithgovernancewithastatementthatwehavecompliedwithrelevantethicalrequirementsregardingindependence,andcommunicatewiththemallrelationshipsandothermattersthatmayreasonablybethoughttobearonourindependence,andrelevantcountermeasures(ifapplicable).Fromthematterscommunicatedwiththosechargedwithgovernance,wedeterminethosemattersthatwereofmostsignificanceintheauditofthefinancialstatementsofthecurrentperiodandarethereforethekeyauditmatters.Wedescribethesemattersintheauditor’sreportunlesslaworregulationprecludespublicdisclosureaboutthematterorwhen,inextremelyrarecircumstances,wedeterminethatamattershouldnotbecommunicatedintheauditor’sreportbecauseoftheadverseconsequencesofdoingsowouldreasonablybeexpectedtooutweighthepublicinterestbenefitsofsuchcommunication.
| GrantThorntonCertifiedPublicAccountantLLP(SpecialGeneralPartnership) | ChineseCPA(Partner)ChineseCPA | GaoHongShuZhicheng |
| BeijingChina | April28,2025 | |
II.FinancialStatementStatementinFinancialNotesarecarriedInRMB/CNY
1.ConsolidatedBalanceSheet
PreparedbySHENZHENCEREALSHOLDINGSCO.,LTD.
InRMB
| Item | Endingbalance | Openingbalance |
| Currentassets: | ||
| Monetaryfunds | 168,199,291.23 | 240,740,787.28 |
| Settlementprovisions | ||
| Capitallent | ||
| Tradablefinancialassets | 1,122,347.85 | |
| Derivativefinancialassets | ||
| Notereceivable | 2,327,160.00 | 113,932.00 |
| Accountreceivable | 235,789,565.91 | 179,828,493.98 |
| Receivablefinancing | ||
| Accountspaidinadvance | 9,776,028.70 | 17,234,701.92 |
| Insurancereceivable | ||
| Reinsurancereceivables | ||
| Contractreserveofreinsurancereceivable | ||
| Otheraccountreceivable | 19,978,436.61 | 29,141,966.16 |
| Including:Interestreceivable | ||
| Dividendreceivable | ||
| Buyingbackthesaleoffinancialassets | ||
| Inventories | 4,044,998,642.52 | 3,458,443,989.04 |
| Including:Dataresources | ||
| Contractassets | ||
| Assetsheldforsale | 121,126,137.62 | |
| Non-currentassetduewithinoneyear | ||
| Othercurrentassets | 113,243,285.26 | 105,857,923.48 |
| Totalcurrentassets | 4,594,312,410.23 | 4,153,610,279.33 |
| Non-currentassets: | ||
| Loansandpaymentsonbehalf | ||
| Debtinvestment | ||
| Otherdebtinvestment | ||
| Long-termaccountreceivable | ||
| Long-termequityinvestment | 45,356,888.44 | 74,008,926.48 |
| Investmentinotherequityinstrument |
| Othernon-currentfinancialassets | 57,500.00 | 57,500.00 |
| Investmentrealestate | 302,075,246.75 | 263,597,031.89 |
| Fixedassets | 2,009,520,283.95 | 2,171,997,328.52 |
| Constructioninprogress | 39,312,847.70 | 51,288,301.16 |
| Productivebiologicalasset | 348,924.60 | 358,617.00 |
| Oilandgasasset | ||
| Right-of-useassets | 115,258,040.17 | 56,933,148.16 |
| Intangibleassets | 523,370,792.77 | 546,325,555.22 |
| Including:Dataresources | ||
| ExpenseonResearchandDevelopment | ||
| Including:Dataresources | ||
| Goodwill | ||
| Long-termexpensestobeapportioned | 26,013,188.68 | 24,694,318.05 |
| Deferredincometaxasset | 52,903,106.75 | 52,757,295.38 |
| Othernon-currentasset | 6,021,277.97 | 7,297,950.00 |
| Totalnon-currentasset | 3,120,238,097.78 | 3,249,315,971.86 |
| Totalassets | 7,714,550,508.01 | 7,402,926,251.19 |
| Currentliabilities: | ||
| Short-termloans | 1,484,605,101.05 | 1,223,462,519.16 |
| Loanfromcentralbank | ||
| Capitalborrowed | ||
| Tradingfinancialliability | ||
| Derivativefinancialliability | ||
| Notepayable | ||
| Accountpayable | 392,787,099.23 | 336,165,196.80 |
| Accountsreceivedinadvance | 1,689,748.86 | 1,084,701.60 |
| Contractliability | 126,590,458.95 | 86,566,253.73 |
| Sellingfinancialassetofrepurchase | ||
| Absorbingdepositandinterbankdeposit | ||
| Securitytradingofagency | ||
| Securitysalesofagency | ||
| Wagepayable | 181,550,514.63 | 266,214,663.20 |
| Taxespayable | 102,239,439.35 | 86,906,785.70 |
| Otheraccountpayable | 268,321,327.50 | 278,046,251.53 |
| Including:Interestpayable | ||
| Dividendpayable | 2,933,690.04 | 2,933,690.04 |
| Commissionchargeandcommissionpayable | ||
| Reinsurancepayable | ||
| Liabilityheldforsale | 0.00 | 66,579,828.59 |
| Non-currentliabilitiesduewithin | 42,927,367.21 | 22,805,473.76 |
| oneyear | ||
| Othercurrentliabilities | 8,042,645.47 | 3,896,140.56 |
| Totalcurrentliabilities | 2,608,753,702.25 | 2,371,727,814.63 |
| Non-currentliabilities: | ||
| Insurancecontractreserve | ||
| Long-termloans | ||
| Bondspayable | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Leaseliability | 78,084,500.76 | 37,744,951.74 |
| Long-termaccountpayable | 16,636,326.62 | 17,994,633.05 |
| Long-termwagespayable | ||
| Accrualliability | ||
| Deferredincome | 79,203,615.99 | 82,819,873.24 |
| Deferredincometaxliabilities | 10,495,166.46 | 10,937,920.46 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 184,419,609.83 | 149,497,378.49 |
| Totalliabilities | 2,793,173,312.08 | 2,521,225,193.12 |
| Owner’sequity: | ||
| Sharecapital | 1,152,535,254.00 | 1,152,535,254.00 |
| Otherequityinstrument | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Capitalpublicreserve | 1,271,908,217.34 | 1,276,151,523.07 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | -620,406.95 | -833,174.82 |
| Reasonablereserve | 1,152,617.76 | 741,968.19 |
| Surpluspublicreserve | 616,729,697.68 | 483,103,366.38 |
| Provisionofgeneralrisk | ||
| Retainedprofit | 1,877,968,762.99 | 1,916,792,566.57 |
| Totalowner’sequityattributabletoparentcompany | 4,919,674,142.82 | 4,828,491,503.39 |
| Minorityinterests | 1,703,053.11 | 53,209,554.68 |
| Totalowner’sequity | 4,921,377,195.93 | 4,881,701,058.07 |
| Totalliabilitiesandowner’sequity | 7,714,550,508.01 | 7,402,926,251.19 |
Legalrepresentative:WangZhikaiPersoninchargeofaccountingworks:LuYuhePersoninchargeofaccountinginstitute:LuChengjun
2.BalanceSheetofParentCompany
InRMB
| Item | Endingbalance | Openingbalance |
| Currentassets: | ||
| Monetaryfunds | 103,158,696.39 | 149,617,836.08 |
| Tradablefinancialassets | 0.00 | 1,122,347.85 |
| Derivativefinancialassets | ||
| Notereceivable | ||
| Accountreceivable | 116,938,612.94 | 65,714,555.94 |
| Receivablefinancing | ||
| Accountspaidinadvance | 134,194.35 | 336,007.79 |
| Otheraccountreceivable | 2,123,872,937.65 | 1,624,337,855.63 |
| Including:Interestreceivable | ||
| Dividendreceivable | ||
| Inventories | ||
| Including:Dataresources | ||
| Contractassets | ||
| Assetsheldforsale | 0.00 | 21,675,000.00 |
| Non-currentassetsmaturingwithinoneyear | ||
| Othercurrentassets | 110,478.30 | 55,135,837.73 |
| Totalcurrentassets | 2,344,214,919.63 | 1,917,939,441.02 |
| Non-currentassets: | ||
| Debtinvestment | ||
| Otherdebtinvestment | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 4,031,188,641.37 | 4,026,844,425.09 |
| Investmentinotherequityinstrument | ||
| Othernon-currentfinancialassets | ||
| Investmentrealestate | 15,100,142.92 | 15,571,733.20 |
| Fixedassets | 30,997,299.26 | 32,858,541.01 |
| Constructioninprogress | ||
| Productivebiologicalassets | 348,924.60 | 358,617.00 |
| Oilandnaturalgasassets | ||
| Right-of-useassets | 67,225,820.17 | 0.00 |
| Intangibleassets | 21,988,398.89 | 23,006,791.89 |
| Including:Dataresources | ||
| Researchanddevelopmentcosts | ||
| Including:Dataresources | ||
| Goodwill | ||
| Long-termdeferredexpenses | 3,403,734.80 | 2,291,236.03 |
| Deferredincometaxassets | 10,774,610.43 | 10,260,054.61 |
| Othernon-currentassets | 2,497,360.73 | 3,744,657.76 |
| Totalnon-currentassets | 4,183,524,933.17 | 4,114,936,056.59 |
| Totalassets | 6,527,739,852.80 | 6,032,875,497.61 |
| Currentliabilities: | ||
| Short-termborrowings | 272,901,652.46 | |
| Tradingfinancialliability | ||
| Derivativefinancialliability | ||
| Notespayable | ||
| Accountpayable | ||
| Accountsreceivedinadvance | ||
| Contractliability | ||
| Wagepayable | 49,395,879.48 | 31,524,389.29 |
| Taxespayable | 3,570,294.15 | 2,801,152.52 |
| Otheraccountspayable | 228,671,937.92 | 1,200,576,358.07 |
| Including:Interestpayable | ||
| Dividendpayable | 2,933,690.04 | 2,933,690.04 |
| Liabilityheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | 22,332,687.31 | |
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 576,872,451.32 | 1,234,901,899.88 |
| Non-currentliabilities: | ||
| Long-termloans | ||
| Bondspayable | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Leaseliability | 46,945,825.26 | |
| Long-termaccountpayable | ||
| Longtermemployeecompensationpayable | ||
| Accruedliabilities | ||
| Deferredincome | ||
| Deferredincometaxliabilities | ||
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 46,945,825.26 | 0.00 |
| Totalliabilities | 623,818,276.58 | 1,234,901,899.88 |
| Owners’equity: | ||
| Sharecapital | 1,152,535,254.00 | 1,152,535,254.00 |
| Otherequityinstrument | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Capitalpublicreserve | 3,018,298,284.55 | 3,018,106,568.27 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome |
| Specialreserve | ||
| Surplusreserve | 344,325,269.54 | 210,698,938.24 |
| Retainedprofit | 1,388,762,768.13 | 416,632,837.22 |
| Totalowner’sequity | 5,903,921,576.22 | 4,797,973,597.73 |
| Totalliabilitiesandowner’sequity | 6,527,739,852.80 | 6,032,875,497.61 |
3.ConsolidatedProfitStatement
InRMB
| Item | 2024 | 2023 |
| I.Totaloperatingincome | 5,375,089,846.91 | 6,190,005,356.82 |
| Including:Operatingrevenue | 5,375,089,846.91 | 6,190,005,356.82 |
| Interestincome | ||
| Insurancegained | ||
| Commissionchargeandcommissionincome | ||
| II.Totaloperatingcost | 4,874,596,515.28 | 5,697,359,360.35 |
| Including:Operatingcost | 4,479,001,434.83 | 5,228,845,801.34 |
| Interestexpense | ||
| Commissionchargeandcommissionexpense | ||
| Cashsurrendervalue | ||
| Netamountofexpenseofcompensation | ||
| Netamountofwithdrawalofinsurancecontractreserve | ||
| Bonusexpenseofguaranteeslip | ||
| Reinsuranceexpense | ||
| Taxandextras | 19,652,659.06 | 18,910,438.82 |
| Salesexpense | 149,810,329.96 | 176,429,835.98 |
| Administrativeexpense | 168,245,200.59 | 213,065,091.64 |
| R&Dexpense | 25,208,644.43 | 20,045,364.68 |
| Financialexpense | 32,678,246.41 | 40,062,827.89 |
| Including:Interestexpenses | 33,986,936.32 | 39,968,255.33 |
| Interestincome | 1,832,540.57 | 959,189.54 |
| Add:Otherincome | 12,340,535.46 | 22,969,158.29 |
| Investmentincome(Lossislistedwith“-”) | 3,416,742.97 | 9,954,884.45 |
| Including:Investmentincomeonaffiliatedcompanyandjointventure | -3,992,524.74 | 3,332,391.85 |
| Theterminationof |
| incomerecognitionforfinancialassetsmeasuredbyamortizedcost | ||
| Exchangeincome(Lossislistedwith“-”) | ||
| Netexposurehedgingincome(Lossislistedwith“-”) | ||
| Incomefromchangeoffairvalue(Lossislistedwith“-”) | 0.00 | 182,701.67 |
| Lossofcreditimpairment(Lossislistedwith“-”) | 166,728.94 | -3,172,372.15 |
| Lossesofdevaluationofasset(Lossislistedwith“-”) | -102,359,076.35 | -104,336,237.13 |
| Incomefromassetsdisposal(Lossislistedwith“-”) | 5,281,839.25 | 2,394,378.42 |
| III.Operatingprofit(Lossislistedwith“-”) | 419,340,101.90 | 420,638,510.02 |
| Add:Non-operatingincome | 608,747.13 | 2,445,728.23 |
| Less:Non-operatingexpense | 603,979.68 | 1,800,973.49 |
| IV.Totalprofit(Lossislistedwith“-”) | 419,344,869.35 | 421,283,264.76 |
| Less:Incometaxexpense | 95,201,262.19 | 74,736,397.57 |
| V.Netprofit(Netlossislistedwith“-”) | 324,143,607.16 | 346,546,867.19 |
| (i)Classifybybusinesscontinuity | ||
| 1.continuousoperatingnetprofit(netlosslistedwith‘-”) | 324,143,607.16 | 346,546,867.19 |
| 2.terminationofnetprofit(netlosslistedwith‘-”) | ||
| (ii)Classifybyownership | ||
| 1.Netprofitattributabletoowner’sofparentcompany | 325,309,578.52 | 347,739,109.06 |
| 2.Minorityshareholders’gainsandlosses | -1,165,971.36 | -1,192,241.87 |
| VI.Netafter-taxofothercomprehensiveincome | 212,767.87 | 58,327.88 |
| Netafter-taxofothercomprehensiveincomeattributabletoownersofparentcompany | 212,767.87 | 58,327.88 |
| (I)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss | ||
| 1.Changesofthedefinedbenefitplansthatre-measured | ||
| 2.Othercomprehensiveincomeunderequitymethodthatcannotbetransfertogain/loss |
| 3.Changeoffairvalueofinvestmentinotherequityinstrument | ||
| 4.Fairvaluechangeofenterprise'screditrisk | ||
| 5.Other | ||
| (ii)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss | 212,767.87 | 58,327.88 |
| 1.Othercomprehensiveincomeunderequitymethodthatcantransfertogain/loss | ||
| 2.Changeoffairvalueofotherdebtinvestment | ||
| 3.Amountoffinancialassetsre-classifytoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionforotherdebtinvestment | ||
| 5.Cashflowhedgingreserve | ||
| 6.Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements | 212,767.87 | 58,327.88 |
| 7.Other | ||
| Netafter-taxofothercomprehensiveincomeattributabletominorityshareholders | ||
| VII.Totalcomprehensiveincome | 324,356,375.03 | 346,605,195.07 |
| TotalcomprehensiveincomeattributabletoownersofparentCompany | 325,522,346.39 | 347,797,436.94 |
| Totalcomprehensiveincomeattributabletominorityshareholders | -1,165,971.36 | -1,192,241.87 |
| VIII.Earningspershare: | ||
| (i)Basicearningspershare | 0.2823 | 0.3017 |
| (ii)Dilutedearningspershare | 0.2823 | 0.3017 |
Asfortheenterprisecombinedunderthesamecontrol,thenetprofitachievedbythemergedpartybeforecombinationis92,048.86yuanandthenetprofitachievedbythemergedpartyinlastperiodisnegative85,624.62yuan.Legalrepresentative:WangZhikaiPersoninchargeofaccountingworks:LuYuhePersoninchargeofaccountinginstitute:LuChengjun
4.ProfitStatementofParentCompany
InRMB
| Item | 2024 | 2023 |
| I.Operatingrevenue | 169,956,053.77 | 156,547,962.65 |
| Less:Operatingcost | 2,808,669.32 | 471,590.28 |
| Taxesandsurcharge | 548,323.11 | 461,125.55 |
| Salesexpenses | ||
| Administrationexpenses | 87,567,563.48 | 69,872,687.40 |
| R&Dexpenses | ||
| Financialexpenses | -41,291,103.22 | -31,215,787.32 |
| Including:Interestexpenses | 4,609,336.81 | 1,340,647.66 |
| Interestincome | 46,144,115.42 | 32,809,723.32 |
| Add:Otherincome | 185,224.01 | 382,620.07 |
| Investmentincome(Lossislistedwith“-”) | 1,215,262,497.73 | 307,281,666.79 |
| Including:InvestmentincomeonaffiliatedCompanyandjointventure | ||
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost(Lossislistedwith“-”) | ||
| Netexposurehedgingincome(Lossislistedwith“-”) | ||
| Changingincomeoffairvalue(Lossislistedwith“-”) | 0.00 | -105,784.51 |
| Lossofcreditimpairment(Lossislistedwith“-”) | -5,530.90 | 11,212.35 |
| Lossesofdevaluationofasset(Lossislistedwith“-”) | ||
| Incomeondisposalofassets(Lossislistedwith“-”) | ||
| II.Operatingprofit(Lossislistedwith“-”) | 1,335,764,791.92 | 424,528,061.44 |
| Add:Non-operatingincome | 0.00 | 5,000.02 |
| Less:Non-operatingexpense | 16,034.73 | 1,099.02 |
| III.TotalProfit(Lossislistedwith“-”) | 1,335,748,757.19 | 424,531,962.44 |
| Less:Incometax | -514,555.82 | -10,260,054.61 |
| IV.Netprofit(Netlossislistedwith“-”) | 1,336,263,313.01 | 434,792,017.05 |
| (i)continuousoperatingnetprofit(netlosslistedwith‘-”) | 1,336,263,313.01 | 434,792,017.05 |
| (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 | 1,336,263,313.01 | 434,792,017.05 |
| VII.Earningspershare: | ||
| (i)Basicearningspershare | ||
| (ii)Dilutedearningspershare |
5.ConsolidatedCashFlowStatement
InRMB
| Item | 2024 | 2023 |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglabor | 5,740,779,445.44 | 6,417,740,069.92 |
| services | ||
| Netincreaseofcustomerdepositandinterbankdeposit | ||
| Netincreaseofloanfromcentralbank | ||
| Netincreaseofcapitalborrowedfromotherfinancialinstitution | ||
| Cashreceivedfromoriginalinsurancecontractfee | ||
| Netcashreceivedfromreinsurancebusiness | ||
| Netincreaseofinsuredsavingsandinvestment | ||
| Cashreceivedfrominterest,commissionchargeandcommission | ||
| Netincreaseofcapitalborrowed | ||
| Netincreaseofreturnedbusinesscapital | ||
| Netcashreceivedbyagentsinsaleandpurchaseofsecurities | ||
| Write-backoftaxreceived | 2,979,376.42 | 3,183,211.56 |
| Othercashreceivedconcerningoperatingactivities | 265,985,560.00 | 284,194,324.86 |
| Subtotalofcashinflowarisingfromoperatingactivities | 6,009,744,381.86 | 6,705,117,606.34 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | 5,403,858,690.85 | 5,308,048,692.21 |
| Netincreaseofcustomerloansandadvances | ||
| Netincreaseofdepositsincentralbankandinterbank | ||
| Cashpaidfororiginalinsurancecontractcompensation | ||
| Netincreaseofcapitallent | ||
| Cashpaidforinterest,commissionchargeandcommission | ||
| Cashpaidforbonusofguaranteeslip | ||
| Cashpaidto/forstaffandworkers | 340,520,836.42 | 375,960,027.05 |
| Taxespaid | 146,884,244.82 | 138,212,589.39 |
| Othercashpaidconcerningoperatingactivities | 133,798,229.15 | 297,161,582.08 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 6,025,062,001.24 | 6,119,382,890.73 |
| Netcashflowsarisingfromoperatingactivities | -15,317,619.38 | 585,734,715.61 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | 400,281,319.81 | 1,558,000,000.00 |
| Cashreceivedfrominvestmentincome | 6,078,274.34 | 6,844,163.83 |
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | 17,413,889.42 | 3,450,760.15 |
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | 18,619,360.20 | 6,881,320.00 |
| Othercashreceivedconcerninginvestingactivities | 0.00 | 726,511.34 |
| Subtotalofcashinflowfrominvestingactivities | 442,392,843.77 | 1,575,902,755.32 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 95,475,079.77 | 147,621,094.50 |
| Cashpaidforinvestment | 345,009,000.00 | 1,543,000,000.00 |
| Netincreaseofmortgagedloans | ||
| Netcashreceivedfromsubsidiariesandotherunitsobtained | 3,151,787.39 | 0.00 |
| Othercashpaidconcerninginvestingactivities | 7,559,395.68 | 0.00 |
| Subtotalofcashoutflowfrominvestingactivities | 451,195,262.84 | 1,690,621,094.50 |
| Netcashflowsarisingfrominvestingactivities | -8,802,419.07 | -114,718,339.18 |
| III.Cashflowsarisingfromfinancingactivities: | ||
| Cashreceivedfromabsorbinginvestment | 0.00 | 490,000.00 |
| Including:Cashreceivedfromabsorbingminorityshareholders’investmentbysubsidiaries | 0.00 | 490,000.00 |
| Cashreceivedfromloans | 3,395,816,991.96 | 1,930,787,809.13 |
| Othercashreceivedconcerningfinancingactivities | ||
| Subtotalofcashinflowfromfinancingactivities | 3,395,816,991.96 | 1,931,277,809.13 |
| Cashpaidforsettlingdebts | 3,140,732,951.95 | 1,872,206,173.08 |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 258,068,059.21 | 324,657,445.10 |
| Including:Dividendandprofitofminorityshareholderpaidbysubsidiaries | ||
| Othercashpaidconcerningfinancingactivities | 50,811,877.40 | 34,531,394.28 |
| Subtotalofcashoutflowfromfinancingactivities | 3,449,612,888.56 | 2,231,395,012.46 |
| Netcashflowsarisingfromfinancingactivities | -53,795,896.60 | -300,117,203.33 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | 105,610.80 | 3,592,205.42 |
| V.Netincreaseofcashandcashequivalents | -77,810,324.25 | 174,491,378.52 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 236,745,667.10 | 62,254,288.58 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 158,935,342.85 | 236,745,667.10 |
6.CashFlowStatementofParentCompany
InRMB
| Item | 2024 | 2023 |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 733,933,422.20 | 729,054,189.00 |
| Write-backoftaxreceived | ||
| Othercashreceivedconcerningoperatingactivities | 4,010,769,222.83 | 2,005,313,299.07 |
| Subtotalofcashinflowarisingfromoperatingactivities | 4,744,702,645.03 | 2,734,367,488.07 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | 421,487.00 | |
| Cashpaidto/forstaffandworkers | 65,491,681.47 | 49,590,320.93 |
| Taxespaid | 1,289,038.98 | 31,145,617.56 |
| Othercashpaidconcerningoperatingactivities | 4,812,539,395.94 | 2,100,148,518.90 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 4,879,741,603.39 | 2,180,884,457.39 |
| Netcashflowsarisingfromoperatingactivities | -135,038,958.36 | 553,483,030.68 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecovering | 325,621,806.51 | 658,000,000.00 |
| investment | ||
| Cashreceivedfrominvestmentincome | 14,422,758.19 | 3,654,709.03 |
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | ||
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | 16,360,810.20 | 6,881,320.00 |
| Othercashreceivedconcerninginvestingactivities | 0.00 | 16,592,433.35 |
| Subtotalofcashinflowfrominvestingactivities | 356,405,374.90 | 685,128,462.38 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 7,590,134.57 | 10,063,850.16 |
| Cashpaidforinvestment | 295,009,000.00 | 643,000,000.00 |
| Netcashreceivedfromsubsidiariesandotherunitsobtained | 3,151,787.39 | |
| Othercashpaidconcerninginvestingactivities | 0.00 | 47,100,000.00 |
| Subtotalofcashoutflowfrominvestingactivities | 305,750,921.96 | 700,163,850.16 |
| Netcashflowsarisingfrominvestingactivities | 50,654,452.94 | -15,035,387.78 |
| III.Cashflowsarisingfromfinancingactivities: | ||
| Cashreceivedfromabsorbinginvestment | ||
| Cashreceivedfromloans | 1,635,652,509.73 | 5,000,000.00 |
| Othercashreceivedconcerningfinancingactivities | ||
| Subtotalofcashinflowfromfinancingactivities | 1,635,652,509.73 | 5,000,000.00 |
| Cashpaidforsettlingdebts | 1,363,121,027.51 | 105,000,000.00 |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 234,609,740.44 | 289,793,581.08 |
| Othercashpaidconcerningfinancingactivities | ||
| Subtotalofcashoutflowfromfinancingactivities | 1,597,730,767.95 | 394,793,581.08 |
| Netcashflowsarisingfromfinancingactivities | 37,921,741.78 | -389,793,581.08 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | 3,623.95 | 2,464.09 |
| V.Netincreaseofcashandcashequivalents | -46,459,139.69 | 148,656,525.91 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 149,617,836.08 | 961,310.17 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 103,158,696.39 | 149,617,836.08 |
7.ConsolidatedStatementofChangesinOwners’Equity
Currentperiod
InRMB
| 2024 | |||||||||||||||
| Owners’equityattributabletotheparentCompany | Minorityinterests | Totalowners’equity | |||||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Provisionofgeneralrisk | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Perpetualcapitalsecurities | Other | |||||||||||||
| I.Balanceattheendofthelastyear | 1,152,535,254.00 | 1,276,151,523.07 | 0.00 | -833,174.82 | 741,968.19 | 483,103,366.38 | 0.00 | 1,916,792,566.57 | 0.00 | 4,828,491,503.39 | 53,209,554.68 | 4,881,701,058.07 | |||
| Add:Changesofaccountingpolicy | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||
| Errorcorrectionofthelastperiod | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||
| Other | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||
| II.Balanceatthebeginningofthisyear | 1,152,535,254.00 | 1,276,151,523.07 | 0.00 | -833,174.82 | 741,968.19 | 483,103,366.38 | 0.00 | 1,916,792,566.57 | 0.00 | 4,828,491,503.39 | 53,209,554.68 | 4,881,701,058.07 | |||
| III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”) | 0.00 | -4,243,305.73 | 0.00 | 212,767.87 | 410,649.57 | 133,626,331.30 | 0.00 | -38,823,803.58 | 0.00 | 91,182,639.43 | -51,506,501.57 | 39,676,137.86 | |||
| (i)Totalcomprehensiveincome | 0.00 | 0.00 | 212,767.87 | 0.00 | 0.00 | 0.00 | 325,309,578.52 | 0.00 | 325,522,346.39 | -1,165,971.36 | 324,356,375.03 | ||||
| (ii)Owners’devote | 0.00 | 0.00 | 0.00 | 0.00 | -4,243,305.73 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -4,243,305.73 | -50,340,530.21 | -54,583,835.94 |
| danddecreasedcapital | ||||||||||||
| 1.Commonsharesinvestedbyshareholders | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 2.Capitalinvestedbyholdersofotherequityinstruments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 4.Other | -4,243,305.73 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -4,243,305.73 | -50,340,530.21 | -54,583,835.94 | |
| (III)Profitdistribution | 0.00 | 0.00 | 0.00 | 0.00 | 133,626,331.30 | 0.00 | -364,133,382.10 | 0.00 | -230,507,050.80 | -230,507,050.80 | ||
| 1.Withdrawalofsurplusreserves | 0.00 | 0.00 | 0.00 | 0.00 | 133,626,331.30 | 0.00 | -133,626,331.30 | 0.00 | 0.00 | 0.00 | ||
| 2.Withdrawalofgeneralriskprovisions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 3.Distributionforowners(orshareholders) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -230,507,050.80 | 0.00 | -230,507,050.80 | -230,507,050.80 | ||
| 4.Other | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| (IV)Carryingforwardinternalowners’equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 1.Capitalreservesconversedtocapital | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| (sharecapital) | |||||||||||||
| 2.Surplusreservesconversedtocapital(sharecapital) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| 3.Remedyinglosswithsurplusreserve | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| 4.Carry-overretainedearningsfromthedefinedbenefitplans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| 5.Carry-overretainedearningsfromothercomprehensiveincome | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| 6.Other | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| (V)Reasonablereserve | 0.00 | 0.00 | 0.00 | 410,649.57 | 0.00 | 0.00 | 0.00 | 0.00 | 410,649.57 | 410,649.57 | |||
| 1.Withdrawalinthereportperiod | 0.00 | 0.00 | 0.00 | 1,243,738.41 | 0.00 | 0.00 | 0.00 | 0.00 | 1,243,738.41 | 1,243,738.41 | |||
| 2.Usageinthereportperiod | 0.00 | 0.00 | 0.00 | -833,088.84 | 0.00 | 0.00 | 0.00 | 0.00 | -833,088.84 | -833,088.84 | |||
| (VI)Others | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| IV.Balanceattheendofthereportperiod | 1,152,535,254.00 | 1,271,908,217.34 | 0.00 | -620,406.95 | 1,152,617.76 | 616,729,697.68 | 0.00 | 1,877,968,762.99 | 0.00 | 4,919,674,142.82 | 1,703,053.11 | 4,921,377,195.93 |
Lastperiod
InRMB
| Item | 2023 | ||||||||||||||
| Owners’equityattributabletotheparentCompany | Minorityinterests | Totalowners’equity | |||||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincom | Reasonablereserve | Surplusreserve | Provisionofgeneralrisk | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Perpetualcapita | Other | |||||||||||||
| lsecurities | e | ||||||||||||||
| I.Balanceattheendofthelastyear | 1,152,535,254.00 | 1,259,639,656.65 | -891,502.70 | 220,301.70 | 439,624,164.67 | 1,910,954,084.79 | 4,762,081,959.11 | 69,511,722.40 | 4,831,593,681.51 | ||||||
| Add:Changesofaccountingpolicy | 148,597.59 | 148,597.59 | 148,597.59 | ||||||||||||
| Errorcorrectionofthelastperiod | |||||||||||||||
| Other | 15,394,408.65 | -10,436,209.66 | 4,958,198.99 | 4,958,198.99 | |||||||||||
| II.Balanceatthebeginningofthisyear | 1,152,535,254.00 | 1,275,034,065.30 | -891,502.70 | 220,301.70 | 439,624,164.67 | 0.00 | 1,900,666,472.72 | 4,767,188,755.69 | 69,511,722.40 | 4,836,700,478.09 | |||||
| III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”) | 1,117,457.77 | 58,327.88 | 521,666.49 | 43,479,201.71 | 0.00 | 16,126,093.85 | 61,302,747.70 | -16,302,167.72 | 45,000,579.98 | ||||||
| (i)Totalcomprehensiveincome | 58,327.88 | 347,739,109.06 | 347,797,436.94 | -1,192,241.87 | 346,605,195.07 | ||||||||||
| (ii)Owners’devotedanddecreasedcapital | 1,117,457.77 | 1,117,457.77 | 490,000.00 | 1,607,457.77 | |||||||||||
| 1.Commonsharesinvestedbyshareholders | 490,000.00 | 490,000.00 | |||||||||||||
| 2.Capitalinvestedbyholdersofother |
| equityinstruments | ||||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||||||
| 4.Other | 1,117,457.77 | 1,117,457.77 | 1,117,457.77 | |||||||
| (III)Profitdistribution | 43,479,201.71 | 0.00 | -331,613,015.21 | -288,133,813.50 | -15,599,925.85 | -303,733,739.35 | ||||
| 1.Withdrawalofsurplusreserves | 43,479,201.71 | -43,479,201.71 | 0.00 | |||||||
| 2.Withdrawalofgeneralriskprovisions | ||||||||||
| 3.Distributionforowners(orshareholders) | -288,133,813.50 | -288,133,813.50 | -288,133,813.50 | |||||||
| 4.Other | -15,599,925.85 | -15,599,925.85 | ||||||||
| (IV)Carryingforwardinternalowners’equity | ||||||||||
| 1.Capitalreservesconversedtocapital(sharecapital) | ||||||||||
| 2.Surplusreserv |
| esconversedtocapital(sharecapital) |
| 3.Remedyinglosswithsurplusreserve |
| 4.Carry-overretainedearningsfromthedefinedbenefitplans |
| 5.Carry-overretainedearningsfromothercomprehensiveincome |
| 6.Other |
(V)Reasonablereserve
| (V)Reasonablereserve | 521,666.49 | 521,666.49 | 521,666.49 | ||||||||||
| 1.Withdrawalinthereportperiod | 1,981,520.98 | 1,981,520.98 | 1,981,520.98 | ||||||||||
| 2.Usageinthereportperiod | -1,459,854.49 | -1,459,854.49 | -1,459,854.49 | ||||||||||
| (VI)Others | |||||||||||||
| IV.Balanceattheendofthereportperiod | 1,152,535,254.00 | 1,276,151,523.07 | -833,174.82 | 741,968.19 | 483,103,366.38 | 0.00 | 1,916,792,566.57 | 4,828,491,503.39 | 53,209,554.68 | 4,881,701,058.07 |
8.StatementofChangesinOwners’Equity(ParentCompany)
CurrentPeriod
InRMB
| Item | 2024 | |||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Retainedprofit | Other | Totalowners’equity | |||
| Preferredstock | Perpetualcapitalsecurities | Other | ||||||||||
| I.Balanceattheendofthelastyear | 1,152,535,254.00 | 0.00 | 0.00 | 0.00 | 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 | 0.00 | 0.00 | 0.00 | 3,018,106,568.27 | 210,698,938.24 | 416,632,837.22 | 4,797,973,597.73 | ||||
| III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”) | 191,716.28 | 133,626,331.30 | 972,129,930.91 | 1,105,947,978.49 | ||||||||
| (i)Totalcomprehensiveincome | 1,336,263,313.01 | 1,336,263,313.01 | ||||||||||
| (ii)Owners’devotedanddecreasedcapital | 191,716.28 | 191,716.28 | ||||||||||
| 1.Commonsharesinvestedbyshareholders | ||||||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||||||||
| 3.Amountreckone | ||||||||||||
| dintoownersequitywithshare-basedpayment | |||||||
| 4.Other | 191,716.28 | 191,716.28 | |||||
| (III)Profitdistribution | 133,626,331.30 | -364,133,382.10 | -230,507,050.80 | ||||
| 1.Withdrawalofsurplusreserves | 133,626,331.30 | -133,626,331.30 | 0.00 | ||||
| 2.Distributionforowners(orshareholders) | |||||||
| 3.Other | -230,507,050.80 | -230,507,050.80 | |||||
| (IV)Carryingforwardinternalowners’equity | |||||||
| 1.Capitalreservesconversedtocapital(sharecapital) | |||||||
| 2.Surplusreservesconversedtocapital(sharecapital) | |||||||
| 3.Remedyinglosswithsurplusreserve | |||||||
| 4.Carry-overretainedearningsfromthedefinedbenefitplans | |||||||
| 5.Carry-overretainedearningsfromothercomprehensiveincome | |||||||
| 6.Other | |||||||
| (V)Reasonablereserve |
| 1.Withdrawalinthereportperiod | ||||||||||
| 2.Usageinthereportperiod | ||||||||||
| (VI)Others | ||||||||||
| IV.Balanceattheendofthereportperiod | 1,152,535,254.00 | 0.00 | 0.00 | 0.00 | 3,018,298,284.55 | 344,325,269.54 | 1,388,762,768.13 | 5,903,921,576.22 |
Lastperiod
InRMB
| Item | 2023 | |||||||||||
| 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/Decreaseinthisyear(Decreaseislistedwith“-”) | 43,479,201.71 | 103,179,001.84 | 146,658,203.55 | |||||||||
| (i)Totalcomprehensiveincome | 434,792,017.05 | 434,792,017.05 | ||||||||||
| (ii)Owners’devotedanddecreasedcapital | ||||||||||||
| 1.Commonsharesinvestedbyshareholders | |||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | |||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | |||||
| 4.Other | |||||
| (III)Profitdistribution | 43,479,201.71 | -331,613,015.21 | -288,133,813.50 | ||
| 1.Withdrawalofsurplusreserves | 43,479,201.71 | -43,479,201.71 | |||
| 2.Distributionforowners(orshareholders) | -288,133,813.50 | -288,133,813.50 | |||
| 3.Other | |||||
| (IV)Carryingforwardinternalowners’equity | |||||
| 1.Capitalreservesconversedtocapital(sharecapital) | |||||
| 2.Surplusreservesconversedtocapital(sharecapital) | |||||
| 3.Remedyinglosswithsurplusreserve | |||||
| 4.Carry-overretainedearningsfromthedefined |
| benefitplans | ||||||||
| 5.Carry-overretainedearningsfromothercomprehensiveincome | ||||||||
| 6.Other | ||||||||
| (V)Reasonablereserve | ||||||||
| 1.Withdrawalinthereportperiod | ||||||||
| 2.Usageinthereportperiod | ||||||||
| (VI)Others | ||||||||
| IV.Balanceattheendofthereportperiod | 1,152,535,254.00 | 3,018,106,568.27 | 210,698,938.24 | 416,632,837.22 | 4,797,973,597.73 |
III.BasicinformationofCompanyShenzhenCerealsHoldingsCo.,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.AsofDecember31,2023,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&AdministrationCommissionThefinancialstatementsandnotestofinancialstatementshasbeenapprovedbythe14
th
meetingofthe11
th
sessionofBODofthecompanyonApril28,2025.
IV.Basisofpreparationoffinancialstatements
1.Basisofpreparation
ThefinancialstatementarepreparedinlinewiththeAccountingStandardsforBusinessEnterprise-BasicStandardissuedbyMinistryofFinanceandspecificaccountingprincipleaswellastheapplicationguidancefortheaccountingprinciplesforenterprise,interpretationtotheaccountingprinciplesforenterpriseandotherrelatedrequirements(hereinafterreferredtoasAccountingStandardsforBusinessEnterprise),combiningtheInformationDisclosurePreparationRulesforCompanyPublicIssuingSecuritiesNo.15-GeneralRulesforFinancialReportoftheCSRC(Revisedin2023).
2.Goingconcern
Thefinancialstatementhasbeenpreparedonagoingconcernbasis.
V.MajoraccountingpolicyandaccountingestimateSpecificaccountingpoliciesandaccountingestimatetips:
thecompanyhasdeterminedfixedassetdepreciation,intangibleassetamortization,andrevenuerecognitionpoliciesbasedonitsownproductionandoperationcharacteristics.SpecificaccountingpoliciescanbefoundinNoteIII.17,NoteIII.21,NoteIII.22andNoteIII.27.
1.StatementforobservationofAccountingStandardforBusinessEnterpriseThefinancialstatementspreparedbytheCompanyareinaccordancetorequirementsofAccountingStandardforBusinessEnterpriseissuedbyMinistryofFinance,whichtrulyandcompletelyreflectthefinancialstatusoftheCompanyandparentcompanyonDecember31,2024,aswellastheconsolidateandparentcompany’soperationalresultsandcashflowforyearof2024.
2.Accountingperiod
CalendaryearistheaccountingperiodfortheCompany,thatisfallstotherangestartingfrom1Januaryto31December.
3.OperatingcycleOperatingcycleoftheCompanyis12months
4.Standardcurrency
TheCompanyanditssubsidiariestakeRMBasthestandardcurrencyforbookkeeping.Overseassubsidiariesselecttheiraccountingbasecurrencybasedonthecurrencyofthemaineconomicenvironmentinwhichtheyoperate.
5.Methodfordeterminingimportancecriteriaandselectioncriteria?Applicable□Notapplicable
| Item | Importancecriteria |
| Importantaccountsreceivablewithsingleprovisionforbaddebtreserves | Amount≥10,000,000 |
| Otheraccountsreceivablewithsignificantsingleprovisionforbaddebtreserves | Amount≥10,000,000 |
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,aswellasothercomprehensiveincomerelatedtonon-tradingequityinstrumentinvestmentsthatwereoriginallydesignatedtobemeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome.
(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,theaccountingpoliciesand
periodrequirementsoftheCompanyanditssubsidiariesareconsistent,andsignificanttransactionsandbalancesbetweencompaniesareoffset.Duringthereportingperiod,subsidiariesandbusinessesaddedduetomergeofenterprisesunderthesamecontrolshallbedeemedtobeincludedinthescopeofthecompany’sconsolidationfromthedateofbeingunderthesameultimatecontrol.Theoperatingresultsandcashflowsfromthedateofbeingunderthesameultimatecontrolshallbeseparatelyincludedintheconsolidatedincomestatementandconsolidatedcashflowstatement.Duringthereportingperiod,theincome,expenses,andprofitsofsubsidiariesandbusinessesaddedduetomergeofenterprisesnotunderthesamecontrolfromthepurchasedatetotheendofthereportingperiodshallbeincludedintheconsolidatedincomestatement,andtheircashflowsshallbeincludedintheconsolidatedcashflowstatement.Theportionoftheshareholder’sequityofthesubsidiarythatdoesnotbelongtothecompanyshallbeseparatelylistedasminorityshareholder’sequityintheconsolidatedbalancesheetundertheshareholder'sequityitem;Thesharesbelongingtominorityinterestsinthecurrentnetgainsandlossesofsubsidiariesarepresentedasminorityinterestsunderthenetprofitintheconsolidatedincomestatement.Incasethelossesassumedbytheminorityshareholdersinthesubsidiaryexceedtheirshareintheinitialowner'sequityofthesubsidiary,thebalanceshallstilloffsetagainstthedecreaseintheminorityshareholder’sequity.
(3)PurchaseofminorityshareholderequityinsubsidiarycompaniesThedifferencebetweenthecostofnewlyacquiredlong-termequityinvestmentsduetothepurchaseofminorityequityandthenetassetthatshouldbecontinuouslycalculatedfromthedateofpurchaseormergerbasedonthenewshareholdingratio,aswellasthedifferencebetweenthedisposalpriceobtainedfrompartialdisposalofequityinvestmentsinsubsidiarieswithoutlosingcontrolandthenetassetthatshouldbecontinuouslycalculatedfromthedateofpurchaseormergercorrespondingtothedisposaloflong-termequityinvestments,shallbeadjustedtothecapitalreserve(sharepremium)intheconsolidatedbalancesheet.Ifthecapitalreserveisinsufficienttooffset,retainedearningsshallbeadjusted.
(4)TreatmentoflossofcontroloversubsidiariesIfcontrolovertheoriginalsubsidiaryislostduetothedisposalofpartialequityinvestmentsorotherreasons,theremainingequityshallberemeasuredatfairvalueonthedateoflossofcontrol;Thedifferencebetweenthesumoftheconsiderationobtainedfromthedisposalofequityandthefairvalueoftheremainingequity,minusthesumofthebookvalueofnetassetbookoftheoriginalsubsidiarythatshouldhavebeencontinuouslycalculatedfromthepurchasedatebasedontheoriginalshareholdingratioandthegoodwill,isrecognizedintheinvestmentincomefortheperiodwhencontrolislost.Othercomprehensiveincomerelatedtoequityinvestmentsintheoriginalsubsidiaryshouldbeaccountedforonthesamebasisasthedirectdisposalofrelatedassetsorliabilitiesbytheoriginalsubsidiarywhencontrolislost.Otherchangesinowner’sequityrelatedtotheoriginalsubsidiaryandmeasuredatequitymethodshouldbetransferredtothecurrentperiod’sgainsandlosseswhencontrolislost.
8.ClassificationofjointventurearrangementsandaccountingtreatmentmethodsforjointoperationsJointventurearrangementreferstoanarrangementjointlycontrolledbytwoormoreparticipatingparties.Thejointventurearrangementsofthecompanyaredividedintojointoperationsandjointventures.
(1)JointoperationInjointoperation,thecompanyenjoystheassetsrelatedtothearrangementandassumestheliabilitiesrelatedtothearrangement.Thecompanyconfirmsthefollowingitemsrelatedtotheshareofinterestsinjointoperationsandconductsaccountingtreatmentin
accordancewiththerelevantaccountingstandardsforenterprises:
A.Recognizeindividuallyheldassetsandjointlyheldassetsbasedontheirrespectiveshares;B.Recognizeindividualliabilitiesandjointlyassumeliabilitiesbasedontheirrespectiveshares;C.Recognizetheincomegeneratedfromthesaleofitsshareofjointoperatingoutput;D.Recognizetherevenuegeneratedfromthesaleofoutputinjointoperationsbasedontheirshare;E.Recognizetheexpensesincurredseparately,andtheexpensesincurredinjointoperationsbasedontheirrespectiveshares.
(2)JointventureInajointventure,thecompanyonlyhastherighttothenetassetsarrangedbyit.Thecompanyaccountsforinvestmentsinjointventuresinaccordancewiththeprovisionsofequitymethodaccountingforlong-termequityinvestments.
9.Recognitionstandardsforcashandcashequivalents
Cashreferstothecashonhandandcashequivalentsofdepositsthatcanbeusedforpaymentatanytime.CashequivalentreferstotheinvestmentheldbytheCompanywithshortmaturityandstrongliquiditythatareeasytobeconvertedintoknownamountswithlittleriskofchangeincashvalue.
10.Foreigncurrencytransactionsandforeigncurrencystatementtranslation
(1)ForeigncurrencytransactionsThecompanyconductsforeigncurrencybusinessandconvertstheamountoftheaccountingcurrencyattheexchangeratewhichisdeterminedinasystematicandreasonablemannerandisapproximatelythespotexchangerateonthedateoftransaction.Onthebalancesheetdate,foreigncurrencymonetaryitemsareconvertedwiththespotexchangerateonthebalancesheetdate.Theexchangedifferencearisingfromthedifferencebetweenthespotexchangerateonthebalancesheetdateandtheexchangerateforinitialrecognitionoronthepreviousbalancesheetdateshallberecognizedinthecurrentperiod'sgainsandlosses;Forforeigncurrencynon-monetaryitemsmeasuredathistoricalcost,thespotexchangerateonthetransactiondateshallstillbeusedfortranslation;Forforeigncurrencynon-monetaryitemsmeasuredatfairvalue,thespotexchangerateonthedateoffairvaluedeterminationisadopted.Thedifferencebetweentheconvertedamountintheaccountingcurrencyandtheoriginalamountintheaccountingcurrencyisrecognizedinthegainsandlossesofcurrentperiodorothercomprehensiveincomebasedonthenatureofthenon-monetaryitem.
(2)TranslationofforeigncurrencyfinancialstatementsAtthebalancesheetdate,whentranslatingtheforeigncurrencyfinancialstatementsofoverseassubsidiaries,fortheassetsandliabilitiesitemsinthebalancesheet,thespotexchangerateonthebalancesheetdateisusedfortranslation.Fortheitemsofshareholders’equity,exceptfor“retainedprofits”,otheritemsaretranslatedatthespotexchangerateonthedateofoccurrence.Fortherevenueandexpenseitemsintheincomestatement,theexchangeratedeterminedbyareasonablemethodofthesystemandapproximatetothespotexchangerateonthetransactiondatewillbeavailablefortranslation.
Allitemsinthecashflowstatementaretranslatedattheexchangeratedeterminedbyareasonablemethodofthesystemandapproximatetothespotexchangerateonthedateofcashflowoccurrence.Theimpactamountofexchangeratefluctuationsoncashistreatedasanadjustmentitem,andisbookedintothe“ImpactofExchangeRateFluctuationsonCashandCashEquivalents”whichisseparatelypresentedinthecashflowstatement.Thedifferencearisingfromthetranslationoffinancialstatementsispresentedin“OtherComprehensiveIncome”undertheshareholders’equityitemsinthebalancesheet.Incaseofdisposingofanoverseasoperationandlosingcontrolrights,thetranslationdifferenceoftheforeigncurrencystatementsrelatedtothisoverseasoperation,whichispresentedundertheitemsofowners'equityinthebalancesheet,shallbetransferredinfullorinproportiontothegains/lossesoftheperiodofthedisposalofsuchoverseaoperation.
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?Thecontractualtermsofthefinancialassetsstipulatethatcashflowgeneratedonaspecificdatewillbeonlyusedtopayfortheprincipalandinterestbasedontheoutstandingprincipalamount.Afterinitialrecognition,suchfinancialassetsaremeasuredatamortizedcostwiththeeffectiveinterestmethod.Gainsorlossesarisingfromfinancialassetswhicharemeasuredatamortizedcostandarenotacomponentofanyhedgingrelationshipareincludedincurrentprofitorlosswhenbeingterminatedforrecognition,amortizedbyeffectiveinterestmethod,orimpaired.FinancialassetsmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincomeTheCompanyclassifiesthefinancialassetsthatmeetthefollowingconditionsandarenotdesignatedasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitorlossasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome:
?TheGroup'sbusinessmodelformanagingthefinancialassetsistargetedatboththecollectionofcontractualcashflowsand
thesaleoffinancialassets;and?Thecontractualtermsofthefinancialassetstipulatethatthecashflowgeneratedonaspecificdateisonlyusedtopayfortheprincipalandtheinterestbasedontheoutstandingprincipalamount.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.
(3)ClassificationandmeasurementoffinancialliabilitiesThefinancialliabilitiesofthecompanyareclassifiedatinitialrecognitionasfinancialliabilitiesmeasuredatfairvaluethroughgainsandlossesofcurrentperiod,financialliabilitiesmeasuredatamortizedcost.Forfinancialliabilitiesthatarenotclassifiedasmeasuredatfairvalueandwhosechangesarerecognizedinthegainsandlossesofcurrentperiod,therelevanttransactioncostsareincludedintheirinitialrecognitionamount.FinancialliabilitiesmeasuredatfairvaluethroughgainsandlossesFinancialliabilitiesmeasuredatfairvaluethroughgainsandlossesincludetradingfinancialliabilitiesandfinancialliabilitiesdesignatedatinitialrecognitionasmeasuredatfairvaluethroughprofitorloss.Forsuchfinancialliabilities,subsequentmeasurementsaremadeatfairvalue,andgainsorlossesresultingfromchangesinfairvalue,aswellasdividendsandinterestexpensesrelatedtosuchfinancialliabilities,arerecognizedinthegainsandlossesofcurrentperiod.FinancialliabilitiesmeasuredatamortizedcostOtherfinancialliabilitiesaremeasuredwitheffectiveinterestratemethodatamortizedcost,andanygainsorlossesarisingfromderecognitionoramortizationarerecognizedinthegainsandlossesofcurrentperiod.ThedistinctionbetweenfinancialliabilitiesandequityinstrumentsFinancialliabilitiesrefertoliabilitiesthatmeetoneofthefollowingconditions:
①Thecontractualobligationtodelivercashorotherfinancialassetstootherparties.②Contractualobligationstoexchangefinancialassetsorliabilitieswithotherpartiesunderpotentialadverseconditions.
③Non-derivativeinstrumentcontractsthatrequireorcanbesettledwiththecompany’sownequityinstrumentsinthefuture,andthecompanywilldeliveravariablenumberofitsownequityinstrumentsaccordingtothiscontract.④Derivativeinstrumentcontractsthatrequireorcanbesettledwiththecompany’sownequityinstrumentsinthefuture,exceptforderivativeinstrumentcontractswhereafixedamountofself-equityinstrumentsisexchangedforafixedamountofcashorotherfinancialassets.Equityinstrumentsrefertocontractsthatproveownershipoftheremainingequityinassetsofacertainenterpriseafterdeductingallliabilities.Ifthecompanycannotunconditionallyavoidfulfillingacontractualobligationbydeliveringcashorotherfinancialassets,suchcontractualobligationmeetsthedefinitionoffinancialliability.Ifafinancialinstrumentneedstobesettledorcanbesettledwiththecompany’sownequityinstruments,itisnecessarytoconsiderwhetherthecompany’sownequityinstrumentsusedtosettletheinstrumentareusedassubstitutesforcashorotherfinancialassets,ortoenabletheholderoftheinstrumenttoenjoytheremainingequityintheassetsafterdeductingallliabilitiesfromtheissuer.Ifitistheformer,theinstrumentisthefinancialliabilityofthecompany;Ifitisthelatter,theinstrumentistheequityinstrumentofthecompany.
(4)Derivativefinancialinstrumentsandembeddedderivativeinstruments
Thederivativefinancialinstrumentsofthecompanyareinitiallymeasuredatfairvalueonthedateofsigningthederivativetransactioncontract,andaresubsequentlymeasuredattheirfairvalue.Thederivativefinancialinstrumentswithapositivefairvaluearerecognizedasanasset,whilethosewithanegativefairvaluearerecognizedasaliability.Anygainsorlossesarisingfromchangesinfairvaluethatdonotcomplywithhedgeaccountingregulationsaredirectlyrecognizedinthegainsandlossesofcurrentperiod.Formixedinstrumentscontainingembeddedderivativeinstruments,incasethemaincontractisafinancialasset,therelevantprovisionsforfinancialassetclassificationshallapplytothemixedinstrumentsasawhole.Ifthemaincontractisnotafinancialasset,andthemixedinstrumentisnotmeasuredatfairvaluethroughgainsandlosses,theembeddedderivativeinstrumentisnotcloselyrelatedtothemaincontractintermsofeconomiccharacteristicsandrisks,andhasthesameconditionsastheembeddedderivativeinstrument,andtheseparateinstrumentmeetsthedefinitionofaderivativeinstrument,theembeddedderivativeinstrumentisseparatedfromthemixedinstrumentandtreatedasaseparatederivativefinancialinstrument.Ifitisnotpossibletoseparatelymeasureembeddedderivativeinstrumentsatthetimeofacquisitionorsubsequentbalancesheetdates,themixedinstrumentasawholeshallbedesignatedasafinancialassetorliabilitymeasuredatfairvaluewithitschangesrecognizedinthegainsandlossesofcurrentperiod.
(5)FairvalueoffinancialinstrumentsThemethodfordeterminingthefairvalueoffinancialassetsandfinancialliabilitiescanbefoundinNoteIII.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,andthecompanymeasurestheprovisionforlossesbasedontheexpectedcreditlossesoftheinstrumentoveritsentireduration.Forfinancialinstrumentswithlowercreditriskonthebalancesheetdate,thecompanyassumesthattheircreditriskhasnotsignificantlyincreasedsinceinitialrecognitionandmeasureslossprovisionsbasedonexpectedcreditlossesoverthenext12months.Theexpectedcreditlossfortheentireexpecteddurationofafinancialinstrumentreferstotheexpectedcreditlosscausedbyallpossibledefaulteventsthatmayoccurthroughouttheexpecteddurationofthefinancialinstrument.Theexpectedcreditlosswithinthenext12monthsimpliestheexpectedcreditlossthatmayoccurduetoadefaulteventofafinancialinstrumentwithinthenext12monthsafterthebalancesheetdate(withintheexpecteddurationincasetheexpectedmaturityofthefinancialinstrumentislessthan12months),whichisapartoftheexpectedcreditlossfortheentireduration).Whenmeasuringexpectedcreditlosses,thelongesttermthatthecompanyneedstoconsideristhelongestcontracttermthattheenterprisefacescreditrisk(includingconsideringrenewaloptions).Forfinancialinstrumentsinthefirstandsecondstages,aswellasthosewithlowercreditrisk,thecompanycalculatesinterestincomebasedontheirbookbalancewithoutdeductingimpairmentprovisionsandactualinterestrate.Forfinancialinstrumentsinthethirdstage,interestincomeiscalculatedbasedontheirbookbalanceminustheamortizedcostofimpairmentprovisionsandtheactualinterestrate.Forreceivablessuchasnotesreceivable,accountsreceivable,andotherreceivables,ifthecreditriskcharacteristicsofacertaincustomeraresignificantlydifferentfromthoseofothercustomersintheportfolio,orifthereisasignificantchangeinthecreditriskcharacteristicsofthatcustomer,thecompanywillmakeindividualseparatebaddebtreserveforthatreceivable.Exceptforaccountsreceivablewithindividualbaddebtreserve,thecompanyclassifiesaccountsreceivableintoportfoliosbasedoncreditriskcharacteristicsandcalculatesbaddebtreserveonthebasisofportfolio.Notesreceivable,accountsreceivableandcontractassetsFornotesreceivableandaccountsreceivable,regardlessofwhethertherearesignificantfinancingcomponents,thecompanyalwaysmeasuresitslossprovisionatanamountequivalenttotheexpectedcreditlossfortheentireduration.Whenitisunabletoassesstheexpectedcreditlossesofasinglefinancialassetatareasonablecost,thecompanycategoriesaccountsreceivableandnotesreceivableintoportfoliosbasedoncreditriskcharacteristics,calculatesexpectedcreditlossesonthebasisofportfolio,anddeterminesthebasisforportfolioandthemethodformeasuringexpectedcreditlossesasfollows:
A.NotesreceivableAccountsreceivableportfolio1:BankacceptancebillAccountsreceivableportfolio2:CommercialacceptancebillB.AccountsreceivableAccountsreceivableportfolio1:SalesreceivablesportfolioAccountsreceivableportfolio2:Specificobjectportfolio
Foraccountsreceivableandcontractassetsclassifiedintoportfolio,thecompany,basedonhistoricalcreditlossexperience,combinedwithcurrentconditionsandpredictionsoffutureeconomicconditions,calculatetheexpectedcreditlossbydefaultriskexposureandtheexpectedcreditlossratefortheentiredurationForaccountsreceivableclassifiedintoportfolio,thecompany,basedonhistoricalcreditlossexperience,combinedwithcurrentconditionsandpredictionsoffutureeconomicconditions,prepareacomparisontablebetweentheagingofaccountsreceivableandtheexpectedcreditlossratefortheentireduration,andcalculatetheexpectedcreditloss.Theagingoftheaccountsreceivableiscalculatedsincetherecognitiondateofaccountsreceivable.OtherreceivablesThecompanycategoriesotherreceivablesintoseveralcombinationsbasedoncreditriskcharacteristics,calculatesexpectedcreditlossesonthebasisofportfolio,anddeterminesthebasisforportfolioasfollows:
Otheraccountsreceivableportfolio1:ExpectedportfolioofcreditriskcharacteristicsOtheraccountsreceivableportfolio2:SpecificobjectportfolioForotherreceivablesclassifiedintoportfolio,thecompany,basedonhistoricalcreditlossexperience,calculatetheexpectedcreditlossbydefaultriskexposureandtheexpectedcreditlossrateoverthenext12monthsortheentireduration.Theagingoftheaccountsreceivableiscalculatedsincetherecognitiondateofotheraccountsreceivable.DebtinvestmentandotherdebtinvestmentsFordebtinvestmentsandotherdebtinvestments,thecompanycalculatesexpectedcreditlossesbasedonthenatureoftheinvestment,varioustypesofcounterpartiesandriskexposure,defaultriskexposure,andexpectedcreditlossrateforthenext12monthsortheentireduration.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.Thiswritesdownconstitutesthederecognitionofrelatedfinancialassets.Thissituationusuallyoccurswhenthecompanydeterminesthatthedebtordoesnothaveassetsorsourcesofincometogeneratesufficientcashflowtorepaytheamounttobewrittendown.However,accordingtothecompany’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,itisbasedonconclusiveevidenceobtained,whileconsideringthepurposeofholdinginventoryandtheimpactofeventsafterthebalancesheetdate.Thecompanyusuallymakesinventoryimpairmentprovisionbasedonindividualinventoryitems.Onthebalancesheetdate,ifthefactorsaffectingthepreviouswrite-downofinventoryvaluehavedisappeared,theinventoryimpairmentprovisionshallbereversedwithintheoriginallyprovisionedamount.
(4)Inventorysystem
Inventorysystemistheperpetualinventorysystem.
(5)Amortizationoflow-valueconsumablesandpackagingmaterialsLow-valueconsumablesandpackagingmaterialsadoptthemethodofprimaryresale;
18.Assetheldforsale
(1)Recognitioncriteriaandaccountingtreatmentfornon-currentassetsordisposalgroupsclassifiedasheld-for-salecategoryIncasethecompanyrecoversthecarryingvalueofanon-currentassetoradisposalgroupmainlythroughselling(includingnon-monetaryassetexchangeswithcommercialsubstance)ratherthancontinuoususe,suchnon-currentassetordisposalgroupshallbeclassifiedasheld-for-salecategory.Theabove-mentionednon-currentassetsdonotincludeinvestmentrealestatemeasuredsubsequentlyatfairvalue,biologicalassetsmeasuredatthenetamountoffairvalueminussellingexpenses,assetsformedfromemployeebenefits,financialassets,deferredincometaxassets,andrightsarisingfrominsurancecontracts.Adisposalgroupreferstoagroupofassetsthataredisposedofasawholethroughsaleorothermeansinasingletransaction,aswellastheliabilitiesdirectlyrelatedtotheseassetsthataretransferredinthetransaction.Undercertaincircumstances,adisposalgroupincludesgoodwillobtainedinabusinesscombination.Non-currentassetsordisposalgroupsthatmeetthefollowingconditionssimultaneouslyshallbeclassifiedasheld-for-salecategorycategories:Inaccordancewiththepracticeofsellingsuchassetsordisposalgroupsinsimilartransactions,thenon-currentassetsordisposalgroupscanbesoldimmediatelyintheircurrentstate;thesaleishighlylikelytooccur,thatis,aresolutionhasbeenmadeonasalesplanandafirmpurchasecommitmenthasbeenobtained,anditisexpectedthatthesalewillbecompletedwithinoneyear.Inthecaseoflosingcontroloverasubsidiaryduetoreasonssuchasthesaleofinvestmentinthesubsidiary,regardlessofwhetherthecompanyretainspartoftheequityinvestmentafterthesale,whentheinvestmentinthesubsidiarytobesoldmeetstheclassificationconditionsfortheheld-for-salecategory,theinvestmentinthesubsidiaryasawholeshallbeclassifiedastheheld-for-salecategoryintheindividualfinancialstatements,andalltheassetsandliabilitiesofthesubsidiaryshallbeclassifiedastheheld-for-salecategoryintheconsolidatedfinancialstatements.Wheninitiallymeasuringorre-measuringanon-currentassetordisposalgroupheld-for-saleatthebalancesheetdate,thedifferencebetweenthecarryingvalueandthenetamountoffairvalueminussellingexpensesshallberecognizedasanassetimpairmentloss.Fortheamountofassetimpairmentlossrecognizedforadisposalgroupheld-for-sale,thecarryingvalueofthegoodwillinthedisposalgroupshallbeoffsetfirst,andthenthecarryingvaluesofthevariousnon-currentassetsinthedisposalgroupshallbeoffsetproportionallyaccordingtotheproportionoftheirrespectivecarryingvalues.Ifthenetamountofthefairvalueofanon-currentassetordisposalgroupheld-for-saleminussellingexpensesincreasesatasubsequentbalancesheetdate,thepreviouslywritten-downamountshallberestoredandreversedwithintheamountofassetimpairmentlossrecognizedafterbeingclassifiedasheld-for-salecategory,andthereversedamountshallbeincludedinthecurrentgains/losses.Thewritten-downcarryingvalueofthegoodwillshallnotbereversed.Thenon-currentassetsheld-for-saleandtheassetsinthedisposalgroupheld-for-saleshallnotbedepreciatedoramortized;theinterestandotherexpensesoftheliabilitiesinthedisposalgroupheld-for-saleshallcontinuetoberecognized.Forallorpartoftheinvestmentinassociatedenterpriseorjointventureclassifiedasheld-for-salecategory,theequitymethodofaccountingshallbesuspendedforthepartclassifiedasheld-for-sale,andtheretainedpartnotclassifiedasheld-for-salecategoryshallcontinuetobeaccountedwiththeequitymethod;incasethecompanylosessignificantinfluenceovertheassociatedenterpriseorjointventureduetosale,theequitymethodofaccountingshallbesuspended.Ifacertainnon-currentassetordisposalgroupisclassifiedasheld-for-salecategorybutlaternolongermeetstheclassificationconditionsforheld-for-salecategory,thecompanyshallstopclassifyingitasheld-for-salecategoryandmeasureitatthelowerofthefollowingtwoamounts:
①Thecarryingvalueoftheassetordisposalgroupbeforeitwasclassifiedasheld-for-salecategory,adjustedaccordingtothedepreciation,amortizationorimpairmentthatshouldhavebeenrecognizedassumingithadnotbeenclassifiedasheld-for-salecategory;②Therecoverableamount.
(2)RecognitioncriteriafordiscontinuedoperationsDiscontinuedoperationreferstoaseparatelydistinguishablecomponentthathasbeendisposedofbythecompanyorclassifiedasheld-for-salecategorybythecompanyandmeetsoneofthefollowingconditions:
①Thecomponentrepresentsanindependentmajorbusinessoraseparatemajoroperatingregion.②Thecomponentispartofarelatedplanforthedisposalofanindependentmajorbusinessoraseparatemajoroperatingregion.③Thecomponentisasubsidiaryacquiredspecificallyforresale.
(3)PresentationThecompanypresentsthenon-currentassetsheld-for-saleortheassetsinthedisposalgroupheld-for-saleinthebalancesheetin“Assetsheld-for-sale”,andpresentstheliabilitiesinthedisposalgroupheld-for-salein“Liabilitiesheld-for-sale”.Thecompanypresentsthegains/lossesfromcontinuingoperationsandthegains/lossesfromdiscontinuedoperationsseparatelyintheincomestatement.Fornon-currentassetsordisposalgroupsheld-for-salethatdonotmeetthedefinitionofdiscontinuedoperations,theirimpairmentlosses,reversalamountsanddisposalgains/lossesarepresentedasthegains/lossesfromcontinuingoperations.Theimpairmentlosses,reversalamountsandotheroperatinggains/lossesaswellasdisposalgains/lossesofdiscontinuedoperationsarepresentedasgains/lossesfromdiscontinuedoperations.Adisposalgroupthatisintendedtobetakenoutofuseratherthansoldandmeetstheconditionsoftherelevantcomponentinthedefinitionofdiscontinuedoperationsshallbepresentedasadiscontinuedoperationasofthedateofitscessationofuse.Forthediscontinuedoperationspresentedinthecurrentperiod,inthecurrentfinancialstatements,theinformationthatwasoriginallypresentedasgains/lossesfromcontinuingoperationsisre-presentedasgains/lossesfromdiscontinuedoperationsforthecomparableaccountingperiod.Ifadiscontinuedoperationnolongermeetstheclassificationconditionsfortheheld-for-salecategory,inthecurrentfinancialstatements,theinformationthatwasoriginallypresentedasgains/lossesfromdiscontinuedoperationsisre-presentedasgains/lossesfromcontinuingoperationsforthecomparableaccountingperiod.
19.Creditors’investment
20.Othercreditors’investment
21.Long-termaccountsreceivable
22.Long-termequityinvestment
Longtermequityinvestmentsincludeequityinvestmentsinsubsidiaries,jointventures,andassociatedenterprises.Inthejointventure,thecompanyiscapableofexertingsignificantinfluenceontheinvestedentity.
(1)DeterminationofinitialinvestmentcostLongtermequityinvestmentsformedfromenterprisemerge:Forlong-termequityinvestmentsobtainedthroughmergeofenterpriseunderthesamecontrol,theinvestmentcostshallbedeterminedbasedontheshareofthebookvalueofthetheshareholders’equityofthemergedpartyintheconsolidatedfinancialstatementsofthefinalcontrolleronthemergerdate;Thelong-termequityinvestmentobtainedthroughthemergerofenterprisesnotunderthesamecontrolshallberecognizedastheinvestmentcostofthelong-termequityinvestmentbasedonthemergercost.Long-termequityinvestmentsobtainedthroughothermeans:Forthelong-termequityinvestmentsobtainedbypayingcash,theactualpurchasepricepaidshallbetheinitialinvestmentcost;Forlong-termequityinvestmentsobtainedthroughtheissuanceof
equitysecurities,thefairvalueoftheissuedequitysecuritiesshallbetheinitialinvestmentcost.
(2)SubsequentmeasurementandrecognitionmethodsofgainsandlossesInvestmentsinsubsidiariesaremeasuredwiththecostmethod,unlesstheinvestmentmeetstheconditionsforholdingforsale;Investmentsinassociatedenterprisesandjointventuresaremeasuredwithequitymethod.Forthelong-termequityinvestmentsmeasuredwithcostmethod,exceptforcashdividendsorprofitsdeclaredbutnotyetdistributedintheactualpaymentorconsiderationreceivedatthetimeofinvestment,thecashdividendsorprofitsdeclaredbytheinvesteeshallberecognizedasinvestmentincomeandbookedintogainsandlossesincurrentperiod.Forlong-termequityinvestmentsmeasuredwiththeequitymethod,iftheinitialinvestmentcostisgreaterthanthefairvalueofidentifiablenetassetsoftheinvestedentityheldatthetimeofinvestment,theinvestmentcostofthelong-termequityinvestmentshallnotbeadjusted;Iftheinitialinvestmentcostislessthanthefairvalueoftheidentifiablenetassetsoftheinvestedentityheldatthetimeofinvestment,thebookvalueofthelong-termequityinvestmentshallbeadjusted,andthedifferenceshallberecognizedinthegainsandlossesoftheinvestmentperiod.Whenmeasuredwithequitymethod,investmentincomeandothercomprehensiveincomeshallberecognizedseparatelybasedontheshareofnetgainsandlossesandothercomprehensiveincomethatshouldbeenjoyedorsharedbytheinvestedentity,andthebookvalueoflong-termequityinvestmentsshallbeadjusted;Thebookvalueoflong-termequityinvestmentsshallbereducedcorrespondinglyintermsoftheportionthatshouldbeenjoyedbasedontheprofitsorcashdividendsdeclaredbytheinvestedentity;Otherchangesinshareholders’equityoftheinvestedentity,exceptfornetgainsandlosses,othercomprehensiveincome,andprofitdistribution,shalladjustthebookvalueoflong-termequityinvestmentsandbebookedintocapitalreserves(othercapitalreserves).Basedonthefairvalueofidentifiableassetsoftheinvestedentityatthetimeofacquisitionoftheinvestment,theshareofnetgainsandlossesthatshouldbeenjoyedintheinvestedentityshallbeadjustedaccordingtotheaccountingpoliciesandaccountingperiodsofthecompanybeforerecognition.Ifsignificantinfluenceorjointcontrolcanbeexertedontheinvestedentityduetoadditionalinvestmentorotherreasons,butdoesnotconstitutingcontrol,ontheconversiondate,theinitialinvestmentcostmeasuredagainwithequitymethodshallbethesumofthefairvalueoftheoriginalequityandtheadditionalinvestmentcost.Iftheoriginalequityisclassifiedasanon-tradingequityinstrumentinvestmentmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome,thecumulativefairvaluechangesrelatedthatwereoriginallyrecognizedinothercomprehensiveincomeshallbetransferredtoretainedincomewhentheequitymethodisusedforaccounting.Ifthejointcontrolorsignificantimpactontheinvestedentityislostduetothedisposalofsomeequityinvestmentsorotherreasons,theremainingequityafterdisposalshallbesubjecttoaccountingtreatmentinaccordancewithAccountingStandardsforEnterprisesNo.22-RecognitionandMeasurementofFinancialInstrumentsonthedateoflossofjointcontrolorsignificantimpact,andthedifferencebetweenfairvalueandbookvalueshallberecognizedingainsandlossesincurrentperiod.Othercomprehensiveincomerecognizedforequityinvestmentswithequitymethodshallbemeasuredonthesamebasisasthedirectdisposalofrelevantassetsorliabilitiesbytheinvestedentitywhentheequitymethodisterminated;Otherchangesinshareholders'equityrelatedtotheoriginalequityinvestmentaretransferredtogainsandlossesincurrentperiod.Ifcontrolovertheinvesteeislostduetothedisposalofaportionofequityinvestmentorotherreasons,andtheremainingequityafterdisposalcanexercisejointcontrolorsignificantinfluenceovertheinvestee,itshallbemeasuredwithequitymethod,andtheremainingequityshallbedeemedtobeadjustedwiththeequitymethodfromthetimeofacquisition;Iftheremainingequityafterdisposalcannotexercisejointcontrolorhaveasignificantimpactontheinvestedentity,itshallbemeasuredinaccordancewiththerelevantprovisionsofEnterpriseAccountingStandardNo.22-RecognitionandMeasurementofFinancialInstruments.Thedifferencebetweenthefairvalueandthebookvalueonthedateoflossofcontrolshallberecognizedingainsandlossesincurrent
period.IftheshareholdingratiooftheCompanydecreasesduetocapitalincreasebyotherinvestors,andthecompanylosescontrolovertheinvestedentitybutisabletoexercisejointcontrolorexertsignificantinfluenceontheinvestedentity,theCompanyshallrecognizetherisingnetassetsoftheinvestedentityheldbythecompanyduetocapitalincreaseandshareexpansionaccordingtothenewshareholdingratio,andthedifferencebetweentheoriginalbookvalueofthelong-termequityinvestmentcorrespondingtothedecreaseinshareholdingratiothatshouldbecarriedforwardshallbeincludedinthecurrentgainsandlosses,andthenitshallbeadjustedintermsofthenewshareholdingratiojustasitismeasuredwithequitymethodwhentheinvestmentisobtained.TheunrealizedinternaltransactiongainsandlossesbetweentheCompanyanditsassociatedenterprisesandjointventuresshallbecalculatedintermsoftheproportionofshareholdingandrecognizedasinvestmentgainsandlossesonthebasisofoffsetting.However,theunrealizedinternaltransactionlossesincurredbytheCompanyandtheinvestedentity,whichistheimpairmentlossesofthetransferredassets,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.
(4)Equityinvestmentsheld-for-saleIncaseallorpartoftheequityinvestmentsinassociatedenterpriseorjointventureareclassifiedasassetsheld-for-sale,therelevantaccountingtreatmentsareshowninNoteIII.14.Theremainingequityinvestmentsthathavenotbeenclassifiedasassetsheld-for-salewillbeaccountedwiththeequitymethod.Iftheequityinvestmentsinassociatedenterpriseorjointventurethathavebeenclassifiedasassetsheld-for-salenolongermeettheclassificationconditionsforassetsheld-for-sale,retrospectiveadjustmentshallbemadewiththeequitymethodstartingfromthedatewhentheywereclassifiedasassetsheld-for-sale.
(5)ImpairmenttestingmethodsandimpairmentprovisionmethodsRefertoNoteIII.23ofauditor’sreportforthemethodformakingassetimpairmentforinvestmentsinsubsidiaries,associatedenterprisesandjointventures.
23.Investmentrealestate
MeasurementmodelforinvestmentrealestateMeasuredwithcostmethodDepreciationoramortizationmethodsInvestmentrealestatereferstorealestateheldforthepurposeofearningrentorcapitalappreciation,orboth.Thecompany’sinvestmentrealestateincludesleasedlanduserights,landuserightsheldandpreparedfortransferafterappreciation,andleasedbuildings.Thecompany'sinvestmentrealestateisinitiallymeasuredatcostatthetimeofacquisitionanddepreciatedoramortizedonaregularbasisinaccordancewithrelevantregulationsforfixedorintangibleassets.Forinvestmentpropertiesthataresubsequentlymeasuredwithcostmodel,themethodforimpairmentofassetsisshowninNoteIII.24.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 | 5.00 | 4.75-2.71 |
| Non-productionbuildings | Straight-linedepreciation | 20-40 | 5.00 | 4.75-2.38 |
| Temporarydormitoryandsimpleroometc. | Straight-linedepreciation | 5-15 | 5.00 | 19.00-6.33 |
| Gasstoragebin | Straight-linedepreciation | 20 | 5.00 | 4.75 |
| Silo | Straight-linedepreciation | 50 | 5.00 | 1.90 |
| Wharfandsupportingfacilities | Straight-linedepreciation | 50 | 5.00 | 1.90 |
| Machineryequipment | Straight-linedepreciation | |||
| Othermachineryequipment | Straight-linedepreciation | 10-20 | 5.00 | 9.50-4.75 |
| Warehousetransmissionequipment | Straight-linedepreciation | 20 | 5.00 | 4.75 |
| Transportequipment | Straight-linedepreciation | 3-10 | 5.00 | 31.67-9.50 |
| Electronicequipmentandothers | Straight-linedepreciation | 2-10 | 5.00 | 47.50-9.50 |
Amongthem,forfixedassetswithimpairmentprovision,thecumulativeamountofimpairmentprovisionoffixedassetsshouldalsobedeductedtodeterminethedepreciationrate.
(1)ThemethodsforimpairmenttestingoffixedassetsandthemethodsformakingimpairmentprovisionaredescribedinNoteIII.24.
(2)Attheendofeachyear,thecompanyreviewstheusefullives,estimatedresidualvaluesanddepreciationmethodsofitsfixedassets.Ifthereisadifferencebetweentheexpectedusefullifeandtheoriginalestimate,theusefullifeofthefixedassetshallbeadjusted;ifthereisadifferencebetweentheestimatedresidualvalueandtheoriginalestimate,theestimatedresidualvalueshallbeadjusted.
(3)DisposaloffixedassetsWhenafixedassetisdisposedof,oritisexpectedthatnoeconomicbenefitsarisefromitsuseordisposal,suchfixedassetshallbede-recognized.Theamountobtainedfromthedisposaloffixedasset(includingsales,transfers,scrappingordamage),afterdeductingitscarryingvalueandrelevanttaxesandfees,shallbeincludedinthecurrentgains/losses.
25.ConstructioninprogressThecostofconstructioninprogressofthecompanyisdeterminedbasedonactualprojectexpenses,includingnecessaryprojectexpensesincurredduringtheconstructionperiod,borrowingcoststhatshouldbecapitalizedbeforetheprojectreachesitsintendedusablestate,andotherrelatedexpenses.Constructioninprogressistransferredtofixedassetswhenitreachesitsintendedusablestate.ThemethodforimpairmentofassetsforconstructioninprogresscanbefoundinNoteIII.24oftheauditor’sreport.
26.Borrowingexpenses
(1)RecognitionoftheborrowingexpensescapitalizationTheborrowingcostsincurredbythecompany,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,constructionorproductionactivitiestobringtheassetstotheirintendedusableorsaleablestatehave
alreadybegun.
(2)ClassificationofbiologicalassetsThebiologicalassetsofthecompanyincludeproductivebiologicalassets.
①ProductivebiologicalassetsThebiologicalassetsofthecompanyareproductivebiologicalassets.Productivebiologicalassetsrefertobiologicalassetsheldforthepurposeofproducingagriculturalproducts,providingservices,orrenting.Productivebiologicalassetsareinitiallymeasuredatcost.Subsequentexpensesincurredonproductivebiologicalassetsafterachievingtheintendedproductionandoperationobjectivesarerecognizedingainsandlossesincurrentperiod.Themanagementandfeedingexpensesincurredaftertheclosureorachievementoftheintendedproductionandoperationobjectivesofproductivebiologicalassetsarepresentedinthecurrentgains/losses.Themainproductivebiologicalassetsofthecompanyareteatrees.Forproductivebiologicalassetsthatachievethepredeterminedproductionandoperationobjectives,depreciationismadewiththestraight-linemethod.Theusefullifeisdeterminedastheremaininglifeoflanduseafterdeductingtheimmatureperiodofteatrees(5years),witharesidualvaluerateof5.00%.Afterdeductingresidualvaluefromtheestimatedusefullifeofbiologicalassets,thedepreciationrateisdeterminedasfollows:
thecompanyshallreviewtheusefullife,estimatednetresidualvalue,anddepreciationmethodofproductivebiologicalassetsatleastattheendoftheyear.Anychangesshallbetreatedaschangesinaccountingestimates.Thedifferencebetweenthedisposalincomefromthesale,inventoryloss,deathordamageofproductivebiologicalassets,afterdeductingtheirbookvalueandrelatedtaxesandfees,isrecognizedingainsandlossesincurrentperiod.
(3)TreatmentofimpairmentofbiologicalassetsIfthenetrealizablevalueofconsumablebiologicalassetsislowerthantheirbookvalue,aimpairmentprovisionofbiologicalassetsshallbemadeintermsofthedifferencebetweenthenetrealizablevalueandthebookvalue,andshallbebookedintogainsandlossesincurrentperiod.Ifthefactorsaffectingtheimpairmentofconsumablebiologicalassetshavedisappeared,thewrite-downamountshouldberestoredandreversedwithintheoriginalimpairmentprovision,andthereversedamountshouldberecognizedingainsandlossesincurrentperiod.ThemethodforimpairmentofproductivebiologicalassetscanbefoundinNoteIII.24oftheauditor’sreport.Noimpairmentprovisionismadeforpublicwelfarebiologicalassets.
28.Oilandgasassets
29.Intangibleassets
(1)Servicelifeanditsdeterminationbasis,estimatedsituation,amortizationmethodorreviewprocedure
Theintangibleassetsofthecompanyincludelanduserights,forestuserights,trademarkuserights,storeoperationrights,softwareuserights,patents,andothers.Intangibleassetsareinitiallymeasuredatcostandanalyzedfortheirusefullifeuponacquisition.Forintangibleassetswithalimitedusefullife,theamortizationmethodthatreflectstheexpectedrealizationofeconomicbenefitsrelatedtotheassetshallbeadoptedfromthetimewhentheintangibleassetisavailableforuse,andshallbeamortizedwithintheexpectedusefullife;Iftheexpectedimplementationmethodcannotbereliablydetermined,thestraight-linemethodshallbeusedforamortization;Intangibleassetswith
uncertainusefullivesarenotamortized.Theamortizationmethodforintangibleassetswithlimitedservicelifeisasfollows:
Estimationoftheservicelifeofintangibleassetswithlimitedservicelife
| 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.TheimpairmentmethodforintangibleassetscanbefoundinNoteIII.24oftheauditor’sreport.
(2)ThecollectionscopeandrelatedaccountingtreatmentmethodsofR&DexpenditureTheR&DexpensesofthecompanyaredirectlyrelatedtoourR&Dactivities,includingemployeesalaries,directinvestmentexpenses,depreciationexpensesandlong-termdeferredexpenses,designexpenses,equipmentdebuggingexpenses,intangibleassetamortizationexpenses,andotherexpenses.ThesalariesofR&DpersonnelareallocatedtoR&Dexpensesbasedonprojectworkinghours.Thesharingofequipment,productionlines,andvenuesbetweenR&DactivitiesandotherproductionandoperationactivitiesisallocatedasR&Dexpensesbasedontheproportionofworkinghoursandarea.ThecompanydistinguishestheexpensesforinternalR&Dprojectsintoresearchstageexpensesanddevelopmentstageexpenses.Theexpensesincurredduringtheresearchphasearerecognizedinthegainsandprofitsofcurrentperiodwhenincurred.Expendituresduringthedevelopmentphasecanonlybecapitalizediftheymeetthefollowingconditions:completingtheintangibleassettomakeittechnicallyfeasibleforuseorsale;Hastheintentiontocompletetheintangibleassetanduseorsellit;Thewaysinwhichintangibleassetsgenerateeconomicbenefits,includingtheabilitytoprovethattheproductsproducedwiththeintangibleassetortheintangibleassetaremarketable,andtheabilitytoproveitsusefulnessiftheintangibleassetwillbeusedinternally;Havesufficienttechnical,financial,andotherresourcestosupportthedevelopmentoftheintangibleassetandtheabilitytouseorselltheintangibleasset;Theexpensesattributabletothedevelopmentstageoftheintangibleassetcanbereliablymeasured.Developmentexpensesthatdonotmeettheaboveconditionsarerecognizedinthegainsandprofitsofcurrentperiod.Aftermeetingtheaboveconditionsandconductingtechnicalandeconomicfeasibilitystudies,thecompany'sR&Dprojectentersthedevelopmentstageafterbeingapproved.Thecapitalizedexpensesduringthedevelopmentstagearelistedasdevelopmentexpensesonthebalancesheetandareconvertedintointangibleassetsfromthedatetheprojectreachesitsintendeduse.
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.Therecognitionofanassetgroupisbasedonwhetherthemaincashinflowsgeneratedbytheassetgroupareindependentofthecashinflowsofotherassetsorassetgroups.Whentherecoverableamountofanassetorassetgroupislowerthanitsbookvalue,thecompanywillwritedownitsbookvaluetotherecoverableamount,andthewrittendownamountwillberecognizedinthegainsandprofitsofcurrentperiod,whilemakingcorrespondingprovisionsforassetimpairment.Asfortheimpairmenttestofgoodwill,thebookvalueofgoodwillformedbyenterprisemergershallbeallocatedtotherelevantassetgroupinareasonablemannerfromthedateofpurchase;Ifitisdifficulttoallocatetotherelevantassetgroups,allocateittotherelevantassetgroupportfolio.Therelevantassetgroupsorassetgroupportfoliorefertoassetgroupsorassetgroupportfoliothatcanbenefitfromthesynergisticeffectsofenterprisemergers,andarenotlargerthanthereportingbranchesdeterminedbythecompany.Whenconductingimpairmenttesting,iftherearesignsofimpairmentinassetgroupsorassetgroupportfoliosrelatedtogoodwill,thefirststepistoconductimpairmenttestingonassetgroupsorassetgroupportfoliothatdonotincludegoodwill,calculatetherecoverableamount,andrecognizethecorrespondingimpairmentlosses.Thenconductimpairmenttestsonassetgroupsorassetgroupcombinationscontaininggoodwill,andcomparetheirbookvaluewiththeirrecoverableamount.Iftherecoverableamountislowerthanthebookvalue,recognizeimpairmentlossesongoodwill.Onceassetimpairmentlossesarerecognized,theywillnotbereversedinfutureaccountingperiods.
31.Longtermdeferredexpenses
Thelong-termdeferredexpensesincurredbythecompanyarevaluedatactualcostandamortizedonanaverageovertheexpectedbenefitperiod.Forlong-termdeferredexpensesthatcannotbenefitfutureaccountingperiods,theiramortizedvalueisfullyrecognizedinthegainsandprofitsofcurrentperiod.
32.Contractliabilities
33.Employeecompensation
(1)Accountingtreatmentmethodsforshort-termcompensation
Duringtheaccountingperiodwhentheemployeesproviderservicetothecompany,theactualemployeewages,bonuses,medicalinsurancepremiums,work-relatedinjuryinsurancepremiums,maternityinsurancepremiums,andhousingprovidentfundpaidto
employeesaccordingtoprescribedstandardsandproportionsarerecognizedasliabilitiesandincludedinthegainsandprofitsofcurrentperiodorrelatedassetcosts.
(2)Accountingtreatmentmethodsforpostemploymentbenefits
Thepostemploymentwelfareplanincludesadefinedcontributionplanandadefinedbenefitplan.Inthedefinedcontributionplan,thecompanynolongerbearsfurtherpaymentobligationsafterpayingfixedfeestoanindependentfund;Adefinedbenefitplanreferstoapostemploymentwelfareplanotherthanadefinedcontributionplan.DefinedcontributionplansIncludebasicpensioninsurance,unemploymentinsurance,andenterpriseannuityplans.Duringtheaccountingperiodwhenemployeesprovideservices,theamountofcontributionscalculatedbasedonthedefinedcontributionplanisrecognizedasliabilityandincludedinthegainsorlossesofcurrentperiodorrelatedassetcosts.DefinedbenefitplansFordefinedbenefitplans,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-termemployeebenefitsOtherlong-termemployeebenefitsprovidedbythecompanytoemployeesthatmeettheconditionsfordefinedcontributionplanshallbehandledinaccordancewiththerelevantprovisionsonsettingupadefinedcontributionplanmentionedabove.Thosewhichmeetconditionsfordefinedbenefitplanshallbetreatedinaccordancewiththerelevantprovisionsonthesetbenefitplanmentionedabove.However,“changesarisingfromremeasuringthenetliabilitiesornetassetsofthesetbenefitplan”intherelevantemployeecompensationshallbeincludedinthecurrentprofitandlossorrelatedassetcost.
34.AccrualliabilityTheCompanywillrecognizetheobligationsrelatedtocontingenciesasexpectedliabilitieswhentheymeetthefollowingconditions:
(1)TheresponsibilityisacurrentresponsibilityundertakenbytheCompany;
(2)Fulfillingoftheresponsibilitymayleadtofinancialbenefitoutflow;
(3)Theresponsibilitycanbemeasuredreliablyforitsvalue.Accrualliabilitiesareinitiallymeasuredbasedonthebestestimateoftheexpensesrequiredtofulfillcurrentobligations,takingintoaccountfactorssuchasrisk,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,thecompanywillconsiderthefollowingsigns:
①Thecompanyhasthecurrentpaymentrightforthegoodsorservices,whichmeansthatthecustomerhasacurrentpaymentobligationforthegoods.
②Thecompanyhastransferredthelegalownershipoftheproducttothecustomer,thatis,thecustomeralreadyhaslegalownershipoftheproduct.
③Thecompanyhastransferredthephysicalownershipoftheproducttothecustomer,whichmeansthecustomerhasalreadytakenpossessionoftheproduct.
④Thecompanyhastransferredthemainrisksandrewardsofownershipoftheproducttothecustomer,thatis,thecustomerhasacquiredthemainrisksandrewardsofownershipoftheproduct.⑤Thecustomerhasacceptedtheproductorservice.⑥Othersignsindicatingthatthecustomerhasobtainedcontrolovertheproduct.
(2)Specificmethods
①GrainandoiltradeandprocessingbusinessTherevenuefromsalesofgoodsisrecognizedafterthegoodssolddomesticallyhavebeendeliveredandmeettherelevanttermsandconditionsstipulatedinthecontract;Therevenueofexportsalesisrecognizedafterthegoodshavebeenshippedanddeclared,andmeettherelevanttermsandconditionsstipulatedinthecontract.
②GrainandoilstoragelogisticsandservicesDynamicgrainandoilreservesandrotationservices:recognizeincomewhenrelevantlaboractivitiesoccur.Specifically,theincomefromgrainandoilreservesiscalculatedandrecognizedmonthlybasedontheactualamountofgrainandoilreservesandthereservepricesspecifiedintheShenzhenMunicipalGovernmentGrainReserveCostContractOperatingRegulationsandtheShenzhenMunicipalEdibleVegetableOilGovernmentReserveCostContractOperatingRegulations.Thewarehousing,logisticsandtransshipmentbusiness,includingservicessuchaswarehousing,loadingontoships,directpick-up,fumigationandtransferringgoodsbetweenwarehouses,isrecognizedbycalculatingaccordingtothechargingtimeandmethodstipulatedinthecontractoragreement.③Food,beverageandteaprocessing
Thecompanyshallrecognizerevenuewhenithasdeliveredtheproductstothebuyersasagreedinthecontractandobtainedthebuyers'receiptconfirmation,thebuyershaveobtainedthecontroloftheproducts,thepaymenthasbeenreceivedorthepaymentvoucherhasbeenobtained,andtherelevanteconomicbenefitsarehighlylikelytoflowin.
④LeasingbusinessForpropertyleasingservices,therealizationofrevenueshallberecognizedonthedatewhenthelesseeisduetopaytherentasspecifiedinthetransactioncontractoragreement.⑤OtherbusinessesTherevenuefrompropertymanagementservicesshallberecognizedwhentherelevantlaborservicesoccurandthepaymentisreceivedsimultaneouslyorthevoucherforreceivingthepaymentisobtained.Therevenueofotherbusinessesshallbemeasuredandrecognizedaccordingtothechargingtimeandmethodstipulatedinthecontractoragreement.Incasesimilarbusinessesadoptdifferentbusinessmodels,differentrevenuerecognitionmethodsandmeasurementmethodswillbeinvolved.
38.Contractcost
Thecontractcostincludestheincrementalcostincurredtoobtainthecontractandthecontractperformancecost.Theincrementalcostincurredtoobtainthecontractreferstothecostthatthecompanywouldnothaveincurredwithoutobtainingthecontract(suchassalescommission).Thecostwhichisexpectedtoberecoveredwillberecognizedbythecompanyasacontractacquisitioncostandasanasset.Exceptfortheexpectedincrementalcoststhatcanberecovered,otherexpensesincurredbythecompanytoobtainthecontractshallbebookedinthegainsandprofitsofcurrentperiod.Ifthecostincurredinfulfillingacontractdoesnotfallwithinthescopeofaccountingstandardsforotherenterprisessuchasinventoryandmeetsthefollowingconditionssimultaneously,thecompanyrecognizesitasacontractperformancecostasanasset:
①Thecostisdirectlyrelatedtoacurrentorexpectedcontract,includingdirectlabor,directmaterials,manufacturingexpenses(orsimilarexpenses),costsclearlybornebythecustomer,andothercostsincurredsolelyduetothecontract;
②Thiscostincreasestheresourcesthatthecompanywilluseinthefuturetofulfillitscontractualobligations;
③Thecostisexpectedtoberecovered.Theassetsrecognizedforcontractacquisitioncostsandtheassetsrecognizedforcontractperformancecosts(hereinafterreferredtoas“assetsrelatedtocontractcosts”)areamortizedonthesamebasisastherecognitionofgoodsorservicesrevenuerelatedtotheassets,andarebookedinthegainsandprofitsofcurrentperiod.Iftheamortizationperioddoesnotexceedoneyear,itshallberecognizedinthecurrentprofitandlosswhenitoccurs.Incasethebookvalueofassetsrelatedtocontractcostsexceedsthedifferencebetweenthefollowingtwoitems,thecompanymakesimpairmentprovisionsfortheexcessandrecognizesitasanassetimpairmentloss:
①Theexpectedremainingconsiderationthatthecompanycanobtainforthetransferofgoodsorservicesrelatedtotheasset;
②Theestimatedcosttobeincurredforthetransferoftherelevantgoodsorservices.
39.GovernmentgrantGovernmentgrantisrecognizedwhentheymeettheconditionsattachedtogovernmentgrantsandcanbereceived.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.Forthepolicypreferentialloansandinterestsubsidiesobtainedbythecompany,incasethefinancedepartmentallocatesinterestsubsidytothelendingbank,thecompanywillusetheactualreceivedloanamountasthebookvalueoftheloan,andcalculatetherelevantloancostsbasedontheloanprincipalandthepolicypreferentialinterestrate,incasethefinancedepartmentdirectlyallocatesinterestsubsidytothecompany,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.Theaccountingpoliciesfortheright-of-useassetscanbefoundinNoteIII.32oftheauditor’sreport.Theinitialmeasurementofleaseliabilitiesisbasedonthepresentvalueofleasepaymentsthathavenotbeenpaidonthestartdateof
theleaseterm,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,thecompanychoosestoadoptthesimplifiedtreatmentmethodmentionedabovebasedonthespecificsituationofeachlease.LeasechangeIfthereisachangeinleaseandthefollowingconditionsaremetsimultaneously,thecompanywilltreattheleasechangeasaseparateleaseforaccountingtreatment:①Theleasechangeexpandstheleasescopebyaddingtherighttouseoneormoreleasedassets;②Theincreasedconsiderationisequivalenttotheindividualpricefortheexpansionoftheleasescope,adjustedaccordingtothesituationofthecontract.Iftheleasechangeisnotaccountedforasaseparatelease,ontheeffectivedateoftheleasechange,theCompanyshallreallocatetheconsiderationofthecontractafterthechange,redeterminetheleaseterm,andremeasuretheleaseliabilitybasedonthepresentvalueoftheleasepaymentamountafterthechangeandthereviseddiscountrate.Iftheleasechangeresultsinareductionintheleasescopeorleaseterm,thecompanyshalladjustthebookvalueoftheright-of-useassetsaccordingly,andrecordtherelevantgainsorlossesfrompartialorcompleteterminationoftheleaseinthegainsandprofitsofcurrentperiod.Ifotherleasechangesresultintheremeasurementofleaseliabilities,theCompanyshalladjustthebookvalueoftherightofuseassetsaccordingly.
(2)ThecompanyasalessorWhenthecompanyactsasthelessor,leasesthathavesubstantiallytransferredallrisksandrewardsrelatedtoassetownershiparerecognizedasfinancingleases,whileleasesotherthanfinancingleasesarerecognizedasoperatingleases.FinanceleaseInfinancialleasing,atthebeginningoftheleaseterm,thecompanyusesthenetleaseinvestmentasthebookvalueofthereceivablefinancingleasepayments.Thenetleaseinvestmentisthesumoftheunguaranteedresidualvalueandthepresentvalueoftheleasepaymentsthathavenotyetbeenreceivedonthestartdateoftheleasetermdiscountedattheimplicitinterestrateofthelease.thecompany,asthelessor,calculatesandrecognizesinterestincomeforeachperiodoftheleasetermatafixedperiodicinterestrate.Thevariableleasepaymentsobtainedbythecompanyasthelessor,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)Implementationofnewaccountingstandardsadjustmentforthefirsttimestartingfrom2023,andimplementationofrelevantfinancialstatementitemsatthebeginningoftheyearforthefirsttime?Applicable?Notapplicable
44.OthersVI.Tax
1.Typeoftaxandrateformainapplicabletax
| Taxes | Basis | Rate |
| VAT | Taxablevalueadded(Thetaxableamountiscalculatedbymultiplyingthetaxablesalesamountbytheapplicabletaxrateanddeductingtheinputtaxallowedfordeductioninthecurrentperiod) | 13.00%,9.00%,6.00%,5.00%,3.00% |
| Consumptiontax | Actualpaidturnovertax | 7.00%,5.00% |
| Urbanmaintenanceandconstructiontax | Actualpaidturnovertax | 3.00% |
| Enterpriseincometax | Taxableincome | 25.00% |
| Propertytax | Foradvaloremtaxes,1.2%oftheremainingvalueafterdeducting20.00%fromtheoriginalvalueofthepropertyshallbecalculatedandpaid;Forlevybasedonrent,calculatedandpaidat12.00%ofrentalincome | 1.20%,12.00% |
| Deedtax | Whenrealestatepropertyrightsaretransferred,aone-timepaymentshallbemadetothepropertytransfereeattheagreedcontractprice | 3.00%-5.00% |
Rateofincometaxfordifferenttaxpayingbody:
| Taxpayingbody | Rateofincometax |
| ShenzhenCerealsHoldingsCo.,Ltd. | 25.00% |
| ShenzhenCerealsGroupCo.,Ltd(hereinafterreferredtoas“SZCG”) | 25.00%,taxexemptionforsomebusinesses |
| ShenzhenHualianGrainandOilTradingCo.,Ltd.(hereinafterreferredtoas“HualianCerealsandOil”) | 25.00% |
| DongguanShenliangHualianCerealsandOilTradingCo.,Ltd(hereinafterreferredtoas“DongguanHualian”) | 25.00% |
| ShenzhenShenliangHongjunCateringManagementCo.,Ltd.(hereinafterreferredtoas“ShenliangHongjun”) | 25.00% |
| ShenzhenFlourCo.,Ltd(hereinafterreferredtoas“ShenzhenFlour”) | 25.00%,taxexemptionforsomebusinesses |
| ShenliangQualityInspectionCo.,Ltd.(hereinafterreferredtoas“ShenliangQualityInspection”) | 20.00% |
| HainanShenliangOil&FoodCo.,Ltd.(hereinafterreferredtoas“HainanOil&Food”) | 20.00% |
| ShenzhenShenliangDoximiBusinessCo.,Ltd.(hereinafterreferredtoas“Doximi”) | 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% |
| HangzhouFuhaitangCateringManagementChainCo.,Ltd.(hereinafterreferredtoas“FuhaitangCatering”) | 25.00% |
| HangzhouFuhaitangTeaEcologyTechnologyCo.,Ltd(hereinafterreferredtoas“FuhaitangTeaEcology”) | 25.00% |
| MountWuyiShenbaoRockTeaCo.,Ltd.(hereinafterreferredtoas“ShenbaoRockTea”) | 25.00% |
| YunnanShenbaoPu’erTeaSupplyChainManagementCo.,Ltd.(hereinafterreferredtoas“Pu’erTeaSupplyChain”) | 25.00% |
| ShenzhenShenliangFoodCo.,Ltd.(hereinafterreferredtoas“ShenzhenShenliangFood”) | 25.00% |
| HuizhouShenliangFoodCo.,Ltd.(hereinafterreferredtoas“HuizhouShenliangFood”) | 20.00% |
| HuizhouShenbaoTechnologyCo.,Ltd.(hereinafterreferredtoas“HuizhouShenbao”) | 25.00% |
| ShenliangHongliGrainandOil(Shenzhen)Co.,Ltd(hereinafterreferredtoas“ShenliangHongli”) | 25.00% |
| XingyeFoodCo.,Ltd.(hereinafterreferredtoas“XingyeFood”) | 16.50% |
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.AsofDecember31,2024,thetaxexemptionpolicyhasbeenineffectsinceitsfilingin2014,andthecompany’sVATinputtaxhasnotchangedsinceitwasaccountedforseparatelyin2014,sothecompanycontinuestoenjoythetaxpreference.
2.Stampduty,housepropertytax,andurbanlandusetaxpreferencesAccordingtothestipulationsoftheAnnouncementoftheMinistryofFinanceandtheStateAdministrationofTaxationonContinuingtheImplementationofTaxPreferentialPoliciesforSomeNationalReserveCommodityReserves([2022]No.8)”,anddocumentsofGuangdongProvinceDepartmentofFinance,GuangdongProvincialTaxationBureauoftheStateAdministrationofTaxationandGuangdongProvincialFoodandMaterialReserveBureau(YCSH[2020]No.2,confirmingthatthefundaccountbookofSZCG,theCompany’ssubsidiary,anditsdirectdepotsisexemptfromstampduty,confirmingthatthewrittenpurchaseandsalecontractsofSZCGintheprocessofundertakingthecommodityreservebusinessareexemptfromstampduty,andconfirmingthatSZCG’shousepropertyandlandusedforthecommodityreservebusinessareexemptfromhousepropertytaxandurbanlandusetax.TheexecutiontimelimitforthistaxpreferencepolicyisfromJanuary1,2022toDecember31,2024.
3.Enterpriseincometax
(1)OnMay27,2021,theGgeneralAadministrationofTaxation,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-techenterpriseswillpaycorporateincometaxatareducedincometaxrateof15.00%withinthreeyearsfromtheyearofidentification.ShenbaoHuachengwillenjoythepreferentialtaxpolicyfrom2021to2024.
(3)OnNovember3,2021,WuyuanJuFangYong,asubsidiaryoftheCompany,obtainedtheHigh-techEnterpriseCertificate(CertificateNo.:GR202136000731)jointlyissuedbytheScienceandTechnologyDepartmentofJiangxiProvince,theFinanceDepartmentofJiangxiProvince,andtheJiangxiProvincialTaxService,StateTaxationAdministration,whichisvalidforthreeyears.Accordingtotherelevantpreferentialpoliciesofthestateforhigh-techenterprises,qualifiedhigh-techenterpriseswillpaycorporateincometaxatareducedincometaxrateof15.00%withinthreeyearsfromtheyearofidentification.WuyuanJuFangYongwillenjoythepreferentialtaxpolicyfrom2021to2024.
(4)AccordingtotheNoticeoftheMinistryofFinanceandtheStateTaxationAdministrationontheTreatmentofCorporateIncomeTaxTreatmentofFiscalFundsforSpecialPurposes(CS[2009]No.87),thegovernmentalserviceincomesobtainedbySZCG,theCompany’ssubsidiary,anditssubordinatecompaniesbycarryingoutgovernmentgrainreservesbusinessarefiscalfundsforspecialpurposes,thosethatmeettherequirementscanberegardedasnon-taxableincomesanddeductedfromthetotalincomewhencalculatingthetaxableincome.Expensesarisingfromtheuseoftheabovenon-taxableincomeforexpenditureshallnotbedeductedfromthecalculationoftaxableincome;forassetsformedfromexpenditure,thecalculateddepreciationandamortizationshallnotbedeductedfromthecalculationoftaxableincome.
(5)ShenzhenFlour,asubsidiaryoftheCompany,isaflourprimaryprocessingenterprise,accordingtothestipulationsofthe“NoticeonIssuingtheScope(Trial)ofPrimaryProcessingofAgriculturalProductsApplicabletotheCorporateIncomeTaxPreferentialPolicy(CS[2008]No.149)”andthe“SupplementaryNoticeontheScopeofPrimaryProcessingofAgriculturalProductsApplicabletotheCorporateIncomeTaxPreferentialPolicyoftheMinistryofFinanceandtheStateAdministrationofTaxation”(CS[2011]No.26),thewheatprimaryprocessingisexemptfromincometax.
(6)AccordingtotheAnnouncementoftheMinistryofFinanceandtheStateTaxationAdministrationontheImplementationofPreferentialIncomeTaxPoliciesforSmallandMicroEnterprises([2022]No.13),fromJanuary1,2022toDecember31,2024,thepartoftheannualtaxableincomeofsmallandlow-profitenterprisesnotexceeding1.00millionyuanshallbeincludedinthetaxableincomeatareducedrateof25.00%,andtheenterpriseincometaxshallbepaidatataxrateof20.00%.Thecompany’ssubsidiaryHainanGrainandOil,ShenliangProperty,ShenliangQualityInspectionandHuizhouShenliangaresmallprofitenterprisesandinlinewiththepreferentialtaxconditions.
3.Other
VII.Notestomainitemsofconsolidatedfinancialstatements
1.Monetaryfunds
InRMB
| Item | Endingbalance | Openingbalance |
| Cashonhand | 9,442.96 | 11,234.32 |
| Cashinbank | 164,844,740.19 | 238,163,848.68 |
| Othermonetaryfund | 3,345,108.08 | 2,565,704.28 |
| Total | 168,199,291.23 | 240,740,787.28 |
| 3,949,901.14 | 4,356,180.68 |
2.Tradablefinancialassets
InRMB
| Item | Endingbalance | Openingbalance |
| Financialassetsmeasuredatfairvalue | 1,122,347.85 |
| andwithvariationreckonedintocurrentgains/losses | ||
| Including: | ||
| Equityinvestmentinstrument | 1,122,347.85 | |
| Including: | ||
| Total | 1,122,347.85 |
Otherexplanation:
3.Derivativefinancialassets
InRMB
| Item | Endingbalance | Openingbalance |
Otherexplanation:
4.Notereceivable
(1)Bycategory
InRMB
| Item | Endingbalance | Openingbalance |
| Bankacceptancebill | 2,327,160.00 | 113,932.00 |
| Total | 2,327,160.00 | 113,932.00 |
(2)Accruedbaddebtsreserve
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookvalue | Baddebtsreserve | Bookvalue | Bookvalue | Baddebtsreserve | Bookvalue | |||||
| Amount | Ratio | Amount | Accruedratio | Amount | Ratio | Amount | Accruedratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
Ifthebaddebtsreserveofaccountreceivableismadeonthebasisofthegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
(3)Baddebtsreserveaccrual,collectedorreversalintheperiod
Baddebtsreserveaccrualintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrual | Collectedorreversal | Written-off | Other | |||
Includingmajoramountbaddebtsreservethatcollectedorreversalintheperiod:
□Applicable?Notapplicable
(4)NotesreceivablealreadypledgedbytheCompanyattheendoftheperiod
InRMB
| Item | Amountpledgedatperiod-end |
(5)Notesendorsedordiscountedandundueonbalancesheetdate
| Item | Endingderecognizedamount | Endingnotderecognizedamount |
(6)Notereceivablechargedoffintheperiod
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) | 237,689,963.04 | 185,011,814.38 |
| 1-2years | 4,395,809.28 | 1,411,768.67 |
| 2-3years | 812,823.91 | 732,353.29 |
| Over3years | 95,921,013.66 | 95,284,580.37 |
| 3-4years | 664,460.24 | 2,124,859.32 |
| 4-5years | 2,096,832.37 | 80,685.16 |
| Over5years | 93,159,721.05 | 93,079,035.89 |
| Total | 338,819,609.89 | 282,440,516.71 |
(2)Accruedbaddebtsreserve
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtsreserve | Bookvalue | Bookbalance | Baddebtsreserve | Bookvalue | |||||
| Amount | Ratio | Amount | Accrualratio | Amount | Ratio | Amount | Accrualratio | |||
| Accountreceivablewithbaddebtsreserveaccrualonasinglebasis | 100,008,783.63 | 29.52% | 99,914,189.37 | 99.91% | 94,594.26 | 99,603,414.71 | 35.27% | 99,513,955.78 | 99.91% | 89,458.93 |
| Including: | ||||||||||
| Accountreceivablewithbaddebtsreserveaccrualonportfolio | 238,810,826.26 | 70.48% | 3,115,854.61 | 2.63% | 235,694,971.65 | 182,837,102.00 | 64.73% | 3,098,066.95 | 1.69% | 179,739,035.05 |
| Including | ||||||||||
| Portfolioofsalesreceivable | 118,311,513.69 | 34.92% | 3,115,854.61 | 2.63% | 115,195,659.08 | 116,066,604.29 | 41.09% | 3,098,066.95 | 2.67% | 112,968,537.34 |
| Object-specificportfolio | 120,499,312.57 | 35.56% | 120,499,312.57 | 66,770,497.71 | 23.64% | 66,770,497.71 | ||||
| Total | 338,819,609.89 | 100.00% | 103,030,043.98 | 30.41% | 235,789,565.91 | 282,440,516.71 | 100.00% | 102,612,022.73 | 36.33% | 179,828,493.98 |
Baddebtsreserveaccrualonsinglebasis:99,914,189.37yuan
InRMB
| Name | Openingbalance | Endingbalance | ||||
| Bookbalance | Baddebtsreserve | Bookbalance | Baddebtsreserve | Accrualratio | Accrualcauses | |
| Baddebtsreserveaccrualonsinglebasis | 99,603,414.71 | 99,513,955.78 | 100,008,783.63 | 99,914,189.37 | 99.91% | Lowpossibilityofrecovery |
| Total | 99,603,414.71 | 99,513,955.78 | 100,008,783.63 | 99,914,189.37 | ||
Baddebtsreserveaccrualonportfolio:Portfolioofsalesreceivable
InRMB
| Name | Endingbalance | ||
| Bookbalance | Baddebtsreserve | Accrualratio | |
| Portfolioofsalesreceivable | 118,311,513.69 | 3,115,854.61 | 2.63% |
| Total | 118,311,513.69 | 3,115,854.61 | |
Explanationonthebasisfordeterminingportfolio:
Baddebtsreserveaccrualonportfolio:object-specificportfolio
InRMB
| Name | Endingbalance | ||
| Bookbalance | Baddebtsreserve | Accrualratio | |
| Object-specificportfolio | 120,499,312.57 | ||
| Total | 120,499,312.57 | ||
Explanationonthebasisfordeterminingportfolio:
Ifthebaddebtsreserveofaccountreceivableismadeinaccordancewiththegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
(3)Baddebtsreserveaccrued,collectedorreversal
Baddebtsreserveaccruedintheperiod:
InRMB
| Category | Openingbalance | Changeincurrentperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Chargedoff | Other | |||
| Baddebtsreserveforaccountsreceivable | 102,612,022.73 | 586,396.33 | 168,375.08 | 103,030,043.98 | ||
| Total | 102,612,022.73 | 586,396.33 | 168,375.08 | 103,030,043.98 | ||
Importantbaddebtsreservecollectedorreversal:
InRMB
| Name | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebts |
(4)Accountreceivablechargedoffintheperiod
InRMB
reserveItem
| Item | Amountchargedoff |
Includingmajoraccountreceivablechargedoff:
InRMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationonaccountreceivablechargedoff:
(5)Top5receivablesandcontractassetsatendingbalancebyarrearsparty
InRMB
| Name | Endingbalanceofaccountreceivable | Endingbalanceofcontractassets | Endingbalanceofaccountreceivableandcontractassets | Ratiointotalendingbalanceofaccountreceivableandcontractassets | Endingbalanceofbaddebtreserveandimpairmentreserveofcontractassets |
| First | 116,870,897.62 | 34.49% | 0.00 | ||
| Second | 15,377,080.00 | 4.54% | 153,770.80 | ||
| Third | 10,455,627.54 | 3.09% | 10,455,627.54 | ||
| Fourth | 9,396,151.19 | 2.77% | 93,961.51 | ||
| Fifth | 6,435,350.10 | 1.90% | 64,353.50 | ||
| Total | 158,535,106.45 | 46.79% | 10,767,713.35 |
6.Contractasset
(1)Contractasset
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Baddebtsreserve | Bookvalue | Bookbalance | Baddebtsreserve | Bookvalue | |
(2)Amountandreasonsforsignificantchangesinbookvalueduringthereportingperiod
InRMB
| Item | Amountofchange | Reasonforchange |
(3)Accruedbaddebtsreserve
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookvalue | Baddebtsreserve | Bookvalue | Bookvalue | Baddebtsreserve | Bookvalue | |||||
| Amount | Ratio | Amount | Accruedratio | Amount | Ratio | Amount | Accruedratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
Ifthebaddebtsreserveofaccountreceivableismadeonthebasisofthegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
(4)Baddebtsreserveaccrued,collectedorreversal
InRMB
| Item | Accruedintheperiod | Collectedorreversalintheperiod | Written-offintheperiod | Reason |
Importantbaddebtsreservecollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
Otherexplanation:
(5)Contractassetschargedoffduringthereportingperiod
InRMB
| Item | Amountchargedoff |
Includingmajorcontractassetschargedoff:
InRMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationoncontractassetschargedoff:
Otherexplanation:
7.Accountreceivablefinancing
(1)Categoryofaccountreceivablefinancing
InRMB
| Item | Endingbalance | Openingbalance |
(2)Accruedbaddebtsreserve
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookvalue | Baddebtsreserve | Bookvalue | Bookvalue | Baddebtsreserve | Bookvalue | |||||
| Amount | Ratio | Amount | Accruedratio | Amount | Ratio | Amount | Accruedratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
Thebaddebtsreserveofaccountreceivableismadeonthebasisofthegeneralmodelofexpectedcreditlosses:
InRMB
| Baddebtsreserve | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | |
| BalanceonJan.1,2024intheperiod |
ClassificationbasisandaccruedratioofbaddebtsreserveforeachstageExplanationonsignificantchangesinthebookbalanceofaccountsreceivablefinancingwithchangesinimpairmentprovisioninthecurrentperiod:
(3)Baddebtsreserveaccrued,collectedorreversal
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Written-off | Other | |||
| Baddebtsreserve | ||||||
| Total | ||||||
Importantbaddebtsreservecollectedorreversal
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
Otherexplanation:
(4)AccountreceivablefinancingalreadypledgedbytheCompanyatperiod-end
InRMB
| Item | Amountpledgedatperiod-end |
(5)Accountreceivablefinancingendorsedordiscountedandundueonbalancesheetdate
InRMB
| Item | Amountderecognizedatperiod-end | Amountnotderecognizedatperiod-end |
(6)Accountreceivablefinancingchargedoffintheperiod
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 | Openingbalance |
| Otheraccountsreceivable | 19,978,436.61 | 29,141,966.16 |
| Total | 19,978,436.61 | 29,141,966.16 |
(1)Interestreceivable
1)Categoryofinterestreceivable
InRMB
| Item | Endingbalance | Openingbalance |
2)Significantoverdueinterest
InRMB
| Borrower | Endingbalance | Overdueperiod | Overduereason | Whetherimpairmenthasoccurredanditsjudgmentbasis |
Otherexplanation:
3)Accruedbaddebtsreserve
□Applicable?Notapplicable
4)Baddebtsreserveaccrued,collectedorreversal
Baddebtsreserveaccruedintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Written-off | Other | |||
| Baddebtsreserve | ||||||
| Total | ||||||
Importantbaddebtsreservecollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
Otherexplanation:
5)Interestreceivablechargedoffintheperiod
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 | Openingbalance |
2)Significantdividendreceivablewithagingoveroneyear
InRMB
| Item(orinvestee) | Endingbalance | Aging | Reasonfornotreceived | Whetherimpairmenthasoccurredanditsjudgmentbasis |
3)Accruedbaddebtsreserve
□Applicable?Notapplicable
4)Baddebtsreserveaccrued,collectedorreversal
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Written-off | Other | |||
| Baddebtsreserve | ||||||
| Total | ||||||
Importantbaddebtsreservecollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
Otherexplanation:
5)Dividendreceivablechargedoffintheperiod
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 | 16,410,289.56 | 10,671,175.15 |
| Otherintercoursefunds | 105,477,322.66 | 121,023,644.56 |
| Total | 121,887,612.22 | 131,694,819.71 |
2)Byaging
InRMB
| Aging | Endingbookbalance | Beginningbookbalance |
| Within1year(inclusive) | 9,698,491.15 | 18,294,637.69 |
| 1-2years | 7,784,603.76 | 9,511,259.22 |
| 2-3years | 5,278,542.28 | 2,536,281.98 |
| Over3years | 99,125,975.03 | 101,352,640.82 |
| 3-4years | 2,121,384.83 | 3,501,011.75 |
| 4-5years | 737,000.59 | 1,478,563.36 |
| Overfiveyears | 96,267,589.61 | 96,373,065.71 |
| Total | 121,887,612.22 | 131,694,819.71 |
3)Accruedbaddebtsreserve
?Applicable□Notapplicable
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookvalue | Baddebtsreserve | Bookvalue | Bookvalue | Baddebtsreserve | Bookvalue | |||||
| Amount | Ratio | Amount | Accruedratio | Amount | Ratio | Amount | Accruedratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
Baddebtsreserveaccrualonsinglebasis
InRMB
| Category | Openingbalance | Endingbalance | ||||
| Bookvalue | Baddebtsreserve | Bookvalue | Baddebtsreserve | Accruedratio | Reason | |
Baddebtsreserveaccrualonportfolio:2
InRMB
| Category | Endingbalance | ||
| Bookvalue | Baddebtsreserve | Accruedratio | |
| Portfolioofexpectedcreditloss | 7,905,973.60 | 3,166,581.16 | 40.05% |
| Object-specificportfolio | 13,830,884.67 | 531,588.97 | 2.95% |
| Total | 21,736,858.27 | 3,698,170.13 | |
Explanationonthebasistodeterminesuchportfolio:：
Ifthebaddebtsreserveofaccountreceivableismadeonthebasisofthegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
InRMB
| Baddebtsreserve | 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 | 1,051,142.38 | 1,051,142.38 | ||
| Currentreversal | 1,694,648.46 | 1,694,648.46 | ||
| Otherchanges | 171.86 | 171.86 | ||
| BalanceonDec.31,2024 | 3,698,170.13 | 98,211,005.48 | 101,909,175.61 |
ClassificationbasisandbaddebtsreserveratioforeachstageChangesinbookbalancewithsignificantchangesinimpairmentprovisioninthecurrentperiod
□Applicable?Notapplicable
4)Baddebtsreserveaccrued,collectedorreversal
Baddebtsreserveaccruedintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Written-off | Other | |||
| Baddebtsreserveofotheraccountsreceivable | 102,552,853.55 | 1,051,142.38 | 1,694,648.46 | 171.86 | 101,909,175.61 | |
| Total | 102,552,853.55 | 1,051,142.38 | 1,694,648.46 | 171.86 | 101,909,175.61 | |
Importantbaddebtsreservecollectedorreversal:
InRMB
| Name | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
5)Otheraccountreceivablechargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajorotheraccountreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationonotheraccountreceivablechargedoff:
6)Top5otheraccountsreceivableatendingbalancebyarrearsparty
InRMB
| Enterprise | Nature | Endingbalance | Aging | Proportionintotalotherreceivablesatendingbalance(%) | Endingbalanceofbaddebtreserve |
| First | Intercoursefunds | 24,108,742.46 | Overfiveyears | 19.78% | 22,187,644.18 |
| Second | Intercoursefunds | 8,326,202.63 | Overfiveyears | 6.83% | 8,326,202.63 |
| Third | Intercoursefunds | 8,285,803.57 | Overfiveyears | 6.80% | 8,285,803.57 |
| Fourth | Intercoursefunds | 8,257,311.80 | Overfiveyears | 6.78% | 8,257,311.80 |
| Fifth | Intercoursefunds | 6,781,000.00 | 1-2years | 5.56% | 0.00 |
| Total | 55,759,060.46 | 45.75% | 47,056,962.18 |
7)Thosebookedintootheraccountreceivablesduetocentralizedfundmanagement
InRMBOtherexplanation:
9.Accountpaidinadvance
(1)Byaging
InRMB
| Aging | Endingbalance | Openingbalance | ||
| Amount | Ratio | Amount | Ratio | |
| Within1year | 7,575,700.47 | 77.49% | 16,244,819.71 | 94.26% |
| 1-2year | 1,614,572.15 | 16.52% | 676,069.63 | 3.92% |
| 2-3years | 367,510.00 | 3.76% | 95,050.89 | 0.55% |
| Over3years | 218,246.08 | 2.23% | 218,761.69 | 1.27% |
| Total | 9,776,028.70 | 17,234,701.92 | ||
Explanationonreasonsfornottimelysettlingimportantaccountpaidinadvancewithagingoveroneyear:
(2)Top5accountspaidinadvanceatendingbalancebyprepaymentobject
| Prepaidobjects | Endingbalance | Proportionintotalprepaymentbalanceattheendofperiod(%) |
| First | 5,872,392.80 | 60.07% |
| Second | 793,035.00 | 8.11% |
| Prepaidobjects | Endingbalance | Proportionintotalprepaymentbalanceattheendofperiod(%) |
| Third | 606,905.83 | 6.21% |
| Fourth | 394,980.00 | 4.04% |
| Fifth | 366,110.00 | 3.74% |
| Total | 8,033,423.63 | 82.17% |
Otherexplanation:
10.Inventory
WhethertheCompanyneedstocomplywiththedisclosurerequirementsoftherealestateindustryornot?No
(1)Bycategory
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Inventoriesfallprovisionorcontractperformancecostsimpairmentprovision | Bookvalue | Bookbalance | Inventoriesfallprovisionorcontractperformancecostsimpairmentprovision | Bookvalue | |
| Rawmaterials | 80,869,593.40 | 14,029,193.74 | 66,840,399.66 | 63,123,938.67 | 15,039,481.32 | 48,084,457.35 |
| Goodsinprocess | 26,297,439.74 | 26,297,439.74 | 27,382,027.01 | 27,382,027.01 | ||
| Finishedgoods | 3,990,325,129.27 | 87,793,814.10 | 3,903,440,914.10 | 3,449,447,657.13 | 87,071,319.87 | 3,362,376,337.26 |
| Goodsintransit | 15,150,734.79 | 14,241,135.86 | 12,559,426.44 | 12,559,426.44 | ||
| Lowvalueconsumables-packagingmaterials | 6,304,862.83 | 2,190,627.19 | 4,114,235.64 | 9,760,002.87 | 1,718,261.89 | 8,041,740.98 |
| Workinprocess-outsourced | 5,388,642.06 | 5,388,642.06 | 5,438,363.67 | 5,438,363.67 | 0.00 | |
| Goodsintransit | 30,064,517.52 | 30,064,517.52 | ||||
| Total | 4,154,400,919.61 | 109,402,277.09 | 4,044,998,642.52 | 3,567,711,415.79 | 109,267,426.75 | 3,458,443,989.04 |
(2)Dataresourcerecognizedasinventory
Intotal
| Item | Dataresourceinventoryoutsourced | Dataresourceinventoryself-processed | Dataresourceinventoryacquiredwithothermanners | Total |
(3)Inventoriesfallprovisionorimpairmentprovisionofcontractperformancecosts
InRMB
| Item | Opening | Currentamountincreased | Currentamountdecreased | Endingbalance |
| balance | Accrual | Other | Reversalorwrite-off | Other | ||
| Rawmaterials | 15,039,481.32 | 152,650.14 | 1,162,937.72 | 14,029,193.74 | ||
| Finishedgoods | 87,071,319.87 | 102,622,527.13 | 101,668,937.12 | 231,095.78 | 87,793,814.10 | |
| Lowvalueconsumables-packagingmaterials | 1,718,261.89 | 662,968.69 | 190,603.39 | 2,190,627.19 | ||
| Workinprocess-outsourced | 5,438,363.67 | 49,721.61 | 5,388,642.06 | |||
| Total | 109,267,426.75 | 103,438,145.96 | 103,072,199.84 | 231,095.78 | 109,402,277.09 |
Inventoriesfallprovisionaccruedintermsofportfolio
InRMB
| Portfolioname | Ending | Opening | ||||
| Endingbalance | Inventoriesfallprovision | Accruedratioofinventoriesfallprovision | Openingbalance | Inventoriesfallprovision | Accruedratioofinventoriesfallprovision | |
Standardforinventoriesfallprovisionaccruedintermsofportfolio
(4)Explanationonthecapitalizedamountofborrowingcostsincludedintheendingbalanceofinventory
(5)Explanationonthecurrentamortizationamountofcontractperformancecosts
11.Assetsheldforsale
InRMB
| Item | Endingbookbalance | Impairmentprovision | Endingbookvalue | Fairvalue | Estimateddisposalcost | Estimateddisposaltime |
Otherexplanation:
12.Non-currentassetduewithinoneyear
InRMB
| Item | Endingbalance | Openingbalance |
(1)Creditors’investmentmaturingwithinoneyear
□Applicable?Notapplicable
(2)Othercreditors’investmentmaturingwithinoneyear
□Applicable?Notapplicable
13.Othercurrentassets
InRMB
| Item | Endingbalance | Openingbalance |
| Inputtaxtobededucted | 111,305,418.60 | 48,868,668.82 |
| Prepaymentofincometaxes | 1,424,165.18 | 25,137,638.10 |
| Prepaidanddeferredexpense | 513,701.48 | 1,623,160.79 |
| Certificateofdeposit | 0.00 | 30,226,849.32 |
| VATdeductionamount | 0.00 | 1,606.45 |
| Total | 113,243,285.26 | 105,857,923.48 |
Otherexplanation:
14.Creditors’investment
(1)Creditors’investment
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
Changesofimpairmentprovisionofcreditors’investmentincurrentperiod
InRMB
| Item | Openingbalance | Currentincrease | Currentdecrease | Endingbalance |
(2)Importantcreditors’investmentatyear-end
InRMB
| Item | Endingbalance | Beginningbalance | ||||||||
| Facevalue | Couponrate | Actualrate | Maturitydate | Overdueprincipal | Facevalue | Couponrate | Actualrate | Maturitydate | Overdueprincipal | |
(3)Accrualofimpairmentprovision
InRMB
| Baddebtsreserve | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceonJan.1,2024intheperiod |
Classificationbasisandaccruedratioofbaddebtsreserveforeachstage
(4)Creditors’investmentchargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajorcreditors’investmentchargedoff:
Explanationoncreditors’investmentchargedoff:
Changesinbookbalancewithsignificantchangesinthecurrentperiod'simpairmentprovision
□Applicable?NotapplicableOtherexplanation:
15.Othercreditors’investment
(1)Othercreditors’investment
InRMB
| Item | Openingbalance | Accrualinterest | Interestadjustment | Changeoffairvalueintheperiod | Endingbalance | Cost | Accumulatedchangeoffairvalue | Accumulatedimpairmentprovisionrecognizedinothercomprehensiveincome | Note |
Changesinimpairmentprovisionofothercreditors’investmentsinthecurrentperiod
InRMB
| Item | Openingbalance | Currentincrease | Currentdecrease | Endingbalance |
(2)Othercreditors’investmentatyear-end
InRMB
| Othercreditors’item | Endingbalance | Beginningbalance | ||||||||
| Facevalue | Couponrate | Actualrate | Maturitydate | Overdueprincipal | Facevalue | Couponrate | Actualrate | Maturitydate | Overdueprincipal | |
(3)Accrualofimpairmentprovision
InRMB
| Baddebtsreserve | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceonJan.1,2024intheperiod |
Classificationbasisandaccruedratioofbaddebtsreserveforeachstage
(4)Othercreditors’investmentchargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajorothercreditors’investmentchargedoff:
Explanationonothercreditors’investmentchargedoff:
Changesinbookbalancewithsignificantchangesinthecurrentperiod'simpairmentprovision
□Applicable?NotapplicableOtherexplanation:
16.Otherequityinstrumentinvestment
InRMB
| Item | Endingbalance | Openingbalance | Gainsrecognizedinothercomprehensiveincomeforthecurrentperiod | Lossesrecognizedinothercomprehensiveincomeforthecurrentperiod | Accumulatedgainsrecognizedinothercomprehensiveincomeattheendofthisperiod | Accumulatedlossesrecognizedinothercomprehensiveincomeattheendofthisperiod | Dividendincomerecognizedinthisperiod | Reasonsfordesignatingfairvaluemeasurementwithchangesrecognizedinothercomprehensiveincome |
Otherequityinstrumentinvestmentderecognizedincurrentperiod
InRMB
| Itemname | Accumulatedgainscarriedforwardtoretainedgains | Accumulatedlossescarriedforwardtoretainedgains | Reasonforde-recognition |
Sub-itemdisclosureofcurrentnon-tradingequityinstrumentinvestments
InRMB
| Item | Dividendsincome | Accumulatedgains | Accumulatedlosses | Amountofothercomprehensiveincometransferredtoretainedearnings | Reasonsfordesignatingfairvaluemeasurementwithchangesrecognizedinothercomprehensiveincome | Reasonsfortransferringothercomprehensiveincometoretainedearnings |
Otherexplanation:
17.Long-termaccountreceivable
(1)Long-termaccountreceivable
InRMB
| Item | Endingbalance | Openingbalance | Discountraterange | ||||
| Bookbalance | Baddebtsreserve | Bookvalue | Bookbalance | Baddebtsreserve | Bookvalue | ||
(2)Accruedbaddebtsreserve
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtsreserve | Bookvalue | Bookbalance | Baddebtsreserve | Bookvalue | |||||
| Amount | Ratio | Amount | Accruedratio | Amount | Ratio | Amount | Accruedratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
Thebaddebtreserveismadeintermsofthegeneralmodelofexpectedcreditlosses
InRMB
| Baddebtsreserve | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceonJan.1,2024intheperiod |
Classificationbasisandaccruedratioofbaddebtsreserveforeachstage
(3)Baddebtsreserveaccrued,collectedorreversal
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Written-off | Other | |||
Importantbaddebtsreservecollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
Otherexplanation:
(4)Long-termaccountreceivablechargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajorlong-termaccountreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationonlong-termaccountreceivablechargedoff:
18.Long-termequipment
InRMB
| Investee | Openingbalance(bookvalue) | Openingbalanceofimpairmentprovision | Currentchanges(+/-) | Endingbalance(bookvalue) | Endingbalanceofimpairmentprovision | |||||||
| Additionalinvestment | Capitalreduction | Investmentgainsrecognizedunderequity | Othercomprehensiveincomeadjustment | Otherequitychange | Cashdividendorprofitannouncedtoissued | Accrualofimpairmentprovision | Other | |||||
| I.Jointventure | ||||||||||||
| II.Associatedenterprise | ||||||||||||
| ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | 1,587,723.81 | -700,262.67 | 887,461.14 | |||||||||
| ZhuhaiHengxingFeedIndustrialCo.,Ltd. | 33,653,135.48 | -928,695.36 | 32,724,440.12 | |||||||||
| ShenliangIntelligentWulianEquityInvestmentFund(Shenzhen)PartnershipEnterprise(Limited) | 27,081,889.78 | 24,659,513.30 | -2,422,376.48 | |||||||||
| ShenzhenShenyuanDataTech.Co.,Ltd | 11,686,177.41 | 58,809.77 | 11,744,987.1 | |||||||||
| 8 | |||||||
| Subtotal | 74,008,926.48 | 0.00 | 24,659,513.30 | -3,992,524.74 | 45,356,888.44 | ||
| Total | 74,008,926.48 | 0.00 | 24,659,513.30 | -3,992,524.74 | 45,356,888.44 |
Therecoverableamountisdeterminedonthebasisofthenetamountafterdeductingdisposalexpensesfromfairvalue
□Applicable?NotapplicableTherecoverableamountisdeterminedonthebasisofthepresentvalueofexpectedfuturecashflows
□Applicable?NotapplicableReasonsforsignificantdiscrepanciesbetweentheaforementionedinformationandtheinformationorexternalinformationusedinpreviousyears'impairmenttestingReasonsforsignificantdiscrepanciesbetweentheinformationusedinthecompany'spreviousannualimpairmenttestsandtheactualsituationofthecurrentyearOtherexplanation:
19.Othernon-currentfinancialassets
InRMB
| Item | Endingbalance | Openingbalance |
| 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.Openingbalance | 614,752,374.09 | 614,752,374.09 | ||
| 2.Currentamountincreased | 55,903,541.44 | 55,903,541.44 | ||
| (1)Outsourcing | ||||
| (2)Inventory\fixedassets\constructioninprocesstransfer-in | 55,903,541.44 | 55,903,541.44 | ||
| (3)Increasedbycombination |
3.Currentamountdecreased
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Othertransfer-out |
4.Endingbalance
| 4.Endingbalance | 670,655,915.53 | 670,655,915.53 | |
| II.Accumulated |
| depreciationandaccumulatedamortization | |||
| 1.Openingbalance | 351,155,342.20 | 351,155,342.20 | |
| 2.Currentamountincreased | 17,425,326.58 | 17,425,326.58 | |
| (1)Accrualoramortization | 17,425,326.58 | 17,425,326.58 |
3.Currentamountdecreased
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Othertransfer-out |
4.Endingbalance
| 4.Endingbalance | 368,580,668.78 | 368,580,668.78 | |
| III.Impairmentprovision | |||
| 1.Openingbalance | |||
| 2.Currentamountincreased | |||
| (1)Accrual |
3.Currentamountdecreased
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Othertransfer-out |
4.Endingbalance
| 4.Endingbalance | |||
| IV.Bookvalue | |||
| 1.Endingbookvalue | 302,075,246.75 | 302,075,246.75 | |
| 2.Openingbookvalue | 263,597,031.89 | 263,597,031.89 |
Therecoverableamountisdeterminedonthebasisofthenetamountafterdeductingdisposalexpensesfromfairvalue
□Applicable?NotapplicableTherecoverableamountisdeterminedonthebasisofthepresentvalueofexpectedfuturecashflows
□Applicable?NotapplicableReasonsforsignificantdiscrepanciesbetweentheaforementionedinformationandtheinformationorexternalinformationusedinpreviousyears'impairmenttestingReasonsforsignificantdiscrepanciesbetweentheinformationusedinthecompany'spreviousannualimpairmenttestsandtheactualsituationofthecurrentyearOtherexplanation:
(2)Measuredatfairvalue
□Applicable?Notapplicable
(3)Convertedtoinvestmentrealestateandmeasuredatfairvalue
InRMB
| Item | Accountsbeforeconversion | Amount | Reasonforconversion | Approvalprocedures | Impactongains/losses | Impactonothercomprehensiveincome |
(4)Investmentrealestatewithoutpropertycertificatecompleted
InRMB
| Item | Bookvalue | Reasonfornotobtainingthepropertyrightscertificate |
| 1st,7th-20thfloorsofDongguanNo.1GrainandOilHeadquarters | 48,448,609.84 | Thejointinspectionhasnotbeencompletedtemporarily |
| OfficeBuildingRentalHaizhifengPart | 821,981.29 | Remainingissues,currentlybeingfollowedup |
Otherexplanation:
21.Fixedassets
InRMB
| Item | Endingbalance | Openingbalance |
| Fixedassets | 2,009,520,283.95 | 2,171,989,776.52 |
| Disposaloffixedassets | 7,552.00 | |
| Total | 2,009,520,283.95 | 2,171,997,328.52 |
(1)Fixedassets
InRMB
| Item | Houseandbuildings | Machineryequipment | Transportequipment | Electronicandotherequipment | Total |
| I.Originalbookvalue: | |||||
| 1.Openingbalance | 2,030,666,059.42 | 779,559,717.86 | 16,758,876.75 | 104,121,959.67 | 2,931,106,613.70 |
| 2.Currentamountincreased | 9,205,482.95 | 17,288,443.03 | 839,650.43 | 4,679,055.94 | 32,012,632.35 |
| (1)Purchase | 4,338,198.00 | 839,650.43 | 1,742,457.19 | 6,920,305.62 | |
| (2)Constructioninprogresstransfer-in | 7,458,146.94 | 12,950,245.03 | 2,094,777.81 | 22,503,169.78 | |
| (3)Increasedbycombination | |||||
| (4)Otherincrease | 1,747,336.01 | 841,820.94 | 2,589,156.95 | ||
| 3.Currentamountdecreased | 98,410,268.63 | 5,106,863.10 | 293,227.27 | 7,885,906.73 | 111,696,265.73 |
| (1)Disposalorscrap | 2,606,987.96 | 293,227.27 | 7,553,033.37 | 10,453,248.60 | |
| (2)Otherdecrease | 98,410,268.63 | 2,499,875.14 | 332,873.36 | 101,243,017.13 | |
| 4.Endingbalance | 1,941,461,273.74 | 791,741,297.79 | 17,305,299.91 | 100,915,108.88 | 2,851,422,980.32 |
| II.Accumulateddepreciation | |||||
| 1.Openingbalance | 350,849,019.39 | 318,153,516.48 | 14,387,876.06 | 72,903,471.54 | 756,293,883.47 |
| 2.Currentamountincreased | 46,344,897.70 | 36,131,528.06 | 738,012.43 | 12,658,525.44 | 95,872,963.62 |
| (1)Accrual | 45,253,792.30 | 36,131,528.06 | 738,012.43 | 11,085,040.44 | 93,208,373.22 |
| (2)Otherincrease | 1,091,105.40 | 1,573,485.00 | 2,664,590.40 | ||
| 3.Currentamountdecreased | 1,573,485.00 | 2,260,264.10 | 268,510.03 | 8,730,226.12 | 12,832,485.25 |
| (1)Disposalorscrap | 2,260,264.10 | 268,510.03 | 7,548,832.01 | 10,077,606.14 | |
| (2)Otherdecrease | 1,573,485.00 | 1,181,394.11 | 2,754,879.11 | ||
| 4.Endingbalance | 395,620,432.09 | 352,024,780.44 | 14,857,378.46 | 76,831,770.86 | 839,334,361.84 |
| III.Impairmentprovision | |||||
| 1.Opening | 2,813,063.84 | 9,889.87 | 2,822,953.71 |
| balance |
| 2.Currentamountincreased |
| (1)Accrual |
3.Currentamountdecreased
| 3.Currentamountdecreased | 254,619.18 | 254,619.18 | ||
| (1)Disposalorscrap | 254,619.18 | 254,619.18 |
4.Endingbalance
| 4.Endingbalance | 2,558,444.66 | 9,889.87 | 2,568,334.53 | ||
| IV.Bookvalue | |||||
| 1.Endingbookvalue | 1,545,840,841.65 | 437,158,072.69 | 2,447,921.45 | 24,073,448.15 | 2,009,520,283.95 |
| 2.Openingbookvalue | 1,679,817,040.03 | 458,593,137.54 | 2,371,000.69 | 31,208,598.26 | 2,171,989,776.52 |
(2)Temporarilyidlefixedassets
InRMB
| Item | Originalbookvalue | Accumulateddepreciation | Impairmentprovision | Bookvalue | Note |
(3)Fixedassetsleasedoutbyoperation
InRMB
| Item | Endingbookvalue |
(4)Fixassetswithoutpropertycertificationheld
InRMB
| Item | Bookvalue | Reasonsforwithoutthepropertycertification |
| CivilengineeringofCDEwarehouseDawnGrainReserveWarehouse | 576,992,093.23 | Stillunderprocessing |
| HousingandbuildingsofDongguanIndustrialandTrade | 82,473,841.32 | Underprocessing |
| Officebuilding | 13,578,444.19 | Remainingissues,currentlybeingfollowed |
| 1stto3rdfloorsofGrainandOilHeadquarters | 4,527,320.33 | Thejointinspectionhasnotbeencompletedtemporarily |
Otherexplanation:
(5)Impairmenttestingoffixedassets
□Applicable?Notapplicable
(6)Disposaloffixedassets
InRMB
| Item | Endingbalance | Openingbalance |
| 7,552.00 | ||
| Total | 7,552.00 |
Otherexplanation:
22.Constructioninprogress
InRMB
| Item | Endingbalance | Openingbalance |
| Constructioninprogress | 39,312,847.70 | 51,288,301.16 |
| Total | 39,312,847.70 | 51,288,301.16 |
(1)Constructioninprogress
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Dongguangrainstorageandwharfmatchingproject | 23,185,559.25 | 23,185,559.25 | 32,632,618.62 | 32,632,618.62 | ||
| CDEstorageofDongguanFoodIndustrialParkandwharfmatingprojects | 6,281,644.10 | 6,281,644.10 | 4,965,118.29 | 4,965,118.29 | ||
| LowTemperatureWarehouseRenovationProjectofPinghuGrainDepot | 3,942,246.16 | 3,942,246.16 | ||||
| Precisionprocessingcolorselectionandimpurityremovalequipmentproject | 1,061,287.68 | 1,061,287.68 | ||||
| Powderpackagingequipmentproject | 814,388.06 | 814,388.06 | 1,784,995.63 | 1,784,995.63 | ||
| Deepprocessingproject | 513,729.78 | 513,729.78 | ||||
| Smallpackagingproductionline | 8,880,595.19 | 8,880,595.19 | ||||
| Other | 8,928,295.83 | 4,900,573.38 | 4,027,722.45 | 7,256,767.03 | 4,745,523.38 | 2,511,243.65 |
| Total | 44,213,421.08 | 4,900,573.38 | 39,312,847.70 | 56,033,824.54 | 4,745,523.38 | 51,288,301.16 |
(2)Changesofmajorconstructioninprogress
InRMB
| Item | Budget | Openingbalance | Currentamount | Transfer-infixed | Other | Endingbalance | Proportion | Progress | Accumulated | Including: | Interestcapitali | Capital |
| increased | assets | decreasedinthePeriod | ofprojectinvestmentinbudget | capitalizationofinterest | amountofcapitalizationofinterestinPeriod | zationrateinPeriod | resources | |||||
| Dongguangrainstorageandwharfmatchingproject | 1,242,000,000.00 | 32,632,618.62 | 6,220,966.53 | 8,936,687.76 | 7,399,572.66 | 24,114,564.81 | 88.50% | 88.50% | 37,221,995.16 | Loansfromfinancialinstitution | ||
| CDEstorageofDongguanFoodIndustrialParkandwharfmatingprojects | 1,087,300,000.00 | 4,965,118.29 | 3,573,110.75 | 2,256,584.94 | 6,281,644.10 | 98.79% | 98.79% | 86,730,568.74 | Loansfromfinancialinstitution | |||
| Total | 2,329,300,000.00 | 37,597,736.91 | 9,794,077.28 | 11,193,272.70 | 7,399,572.66 | 30,396,208.91 | 123,952,563.90 |
(3)Impairmentprovisionofconstructioninprogress
InRMB
| Item | Openingbalance | Currentincrease | Currentdecrease | Endingbalance | Reasonforaccrual |
Otherexplanation:
(4)Impairmenttestingofconstructioninprogress
□Applicable?Notapplicable
(5)Engineeringmaterial
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
Otherexplanation:
23.Productivebiologicalasset
(1)Measuredatcost
?Applicable□Notapplicable?Applicable□Notapplicable
InRMB
| Item | Plant | Livestock | Forestry | Fisheries | Total |
I.Originalbookvalue
| I.Originalbookvalue | |||
| 1.Openingbalance | 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.Openingbalance | 58,154.28 | 58,154.28 | |
| 2.Currentamountincreased | 9,692.40 | 9,692.40 | |
| (1)Accrual | 9,692.40 | 9,692.40 |
3.Currentamountdecreased
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Other |
4.Endingbalance
| 4.Endingbalance | 67,846.68 | 67,846.68 | |
| III.Impairmentprovision | |||
| 1.Openingbalance | |||
| 2.Currentamountincreased | |||
| (1)Accrual |
3.Currentamountdecreased
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Other |
4.Endingbalance
| 4.Endingbalance | |||
| IV.Bookvalue | |||
| 1.Endingbookvalue | 348,924.60 | 348,924.60 | |
| 2.Openingbook | 358,617.00 | 358,617.00 |
(2)Impairmenttestingofproductivebiologicalassetmeasuredatcostmodel
□Applicable?Notapplicable
(3)Productivebiologicalassetmeasuredatfairvalue
□Applicable?Notapplicable
24.Oilandgasasset
□Applicable?Notapplicable
25.Right-of-useasset
(1)Onright-of-useasset
InRMB
valueItem
| Item | Houseandbuilding | Landuserights | Total |
| I.Originalbookvalue | |||
| 1.Openingbalance | 110,474,798.90 | 1,823,669.22 | 112,298,468.12 |
| 2.Currentamountincreased | 86,582,460.08 | 1,052,300.17 | 87,634,760.25 |
| (1)Lease | 86,582,460.08 | 1,052,300.17 | 87,634,760.25 |
| 3.Currentamountdecreased | 1,627,356.49 | 1,627,356.49 | |
| Otherdecrease | 1,627,356.49 | 1,627,356.49 | |
| 4.Endingbalance | 195,429,902.49 | 2,875,969.39 | 198,305,871.88 |
| II.Accumulateddepreciation | |||
| 1.Openingbalance | 54,661,515.02 | 703,804.94 | 55,365,319.96 |
| 2.Currentamountincreased | 29,020,700.05 | 289,168.19 | 29,309,868.24 |
| (1)Accrual | 29,020,700.05 | 289,168.19 | 29,309,868.24 |
3.Currentamountdecreased
| 3.Currentamountdecreased | 1,627,356.49 | 1,627,356.49 | |
| (1)Disposal | |||
| (2)Otherdecrease | 1,627,356.49 | 1,627,356.49 | |
| 4.Endingbalance | 82,054,858.58 | 992,973.13 | 83,047,831.71 |
| III.Impairmentprovision | |||
| 1.Openingbalance | |||
| 2.Currentamountincreased | |||
| (1)Accrual |
3.Currentamountdecreased
| 3.Currentamountdecreased |
| (1)Disposal |
4.Endingbalance
| 4.Endingbalance | |||
| IV.Bookvalue | |||
| 1.Endingbookvalue | 113,375,043.91 | 1,882,996.26 | 115,258,040.17 |
| 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 | Shopuserights | Softwareusagerights | Forestuserights | Trademarkrights | Total |
| I.Originalbookvalue | ||||||||
| 1.Openingbalance | 585,810,806.50 | 54,979,841.97 | 3,610,487.37 | 108,614,817.05 | 22,859,104.98 | 98,073.32 | 775,973,131.19 | |
| 2.Currentamountincreased | 2,096,568.36 | 8,661,447.51 | 2,047.04 | 10,760,062.91 | ||||
| (1)Purchase | 8,661,447.51 | 2,047.04 | 8,663,494.55 | |||||
| (2)InternalR&D | ||||||||
| (3)Increasedbycombination | ||||||||
| (4)Otherincrease | 2,096,568.36 | 2,096,568.36 | ||||||
| 3.Currentamountdecreased | 88,540.56 | 457,063.72 | 2,047.04 | 547,651.32 | ||||
| (1)Disposal | 2,047.04 | 2,047.04 | ||||||
| (2)Otherdecrease | 88,540.56 | 457,063.72 | 545,604.28 | |||||
| 4.Endingbalance | 587,907,374.86 | 54,891,301.41 | 3,610,487.37 | 116,819,200.84 | 22,859,104.98 | 98,073.32 | 786,185,542.78 | |
| II.Accumulateddepreciation | ||||||||
| 1.Openingbalance | 129,883,658.78 | 31,200,957.77 | 1,585,353.29 | 52,875,861.49 | 8,456,983.56 | 91,477.54 | 224,094,292.43 | |
| 2.Currentamountincreased | 14,795,217.30 | 1,258,740.49 | 90,028.90 | 16,338,073.67 | 772,863.60 | 2,883.02 | 33,257,806.98 | |
| (1)Accrual | 14,120,617.56 | 1,258,740.49 | 90,028.90 | 16,338,073.67 | 772,863.60 | 2,883.02 | 32,583,207.24 | |
| (2)Otherincrease | 674,599.74 | 674,599.74 | ||||||
| 3.Currentamountdecreased | 90,000.00 | 632.94 | 90,632.94 | |||||
| (1)Disposal | 632.94 | 632.94 | ||||||
| (3)Otherdecrease | 90,000.00 | 90,000.00 |
| 4.Endingbalance | 144,678,876.08 | 32,459,698.26 | 1,675,382.19 | 69,123,935.16 | 9,229,847.16 | 93,727.62 | 257,261,466.47 | |
| III.Impairmentprovision | ||||||||
| 1.Openingbalance | 5,553,283.54 | 5,553,283.54 | ||||||
| 2.Currentamountincreased | ||||||||
| (1)Accrual |
3.Currentamountdecreased
| 3.Currentamountdecreased |
| (1)Disposal |
4.Endingbalance
| 4.Endingbalance | 5,553,283.54 | 5,553,283.54 | ||||||
| IV.Bookvalue | ||||||||
| 1.Endingbookvalue | 443,228,498.78 | 16,878,319.61 | 1,935,105.18 | 47,695,265.68 | 13,629,257.82 | 4,345.70 | 523,370,792.77 | |
| 2.Openingbookvalue | 455,927,147.72 | 18,225,600.66 | 2,025,134.08 | 55,738,955.56 | 14,402,121.42 | 6,595.78 | 546,325,555.22 |
RatiooftheintangibleassetsformedbyinternalR&Dinbalanceofintangibleassetsatperiod-end
(2)Dataresourcerecognizedasintangibleassets
□Applicable?Notapplicable
(3)Landuserightswithoutcertificateofownership
InRMB
| Item | Bookvalue | Reasonsforwithoutthepropertycertification |
| Landuseright | 7,849,990.00 | Stillinprogress |
Otherexplanation:
(4)Impairmenttestingofintangibleassets
□Applicable?Notapplicable
27.Goodwill
(1)Originalbookvalueofgoodwill
InRMB
| Investeeormattersforminggoodwill | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | ||
| Formedbybusinesscombination | Disposal | |||||
Total
(2)Impairmentprovisionofgoodwill
InRMB
| Investeeormattersforminggoodwill | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | ||
| Accrual | Disposal | |||||
Total
(3)Relatedinformationofassetgrouporassetgroupportfoliowheregoodwillisincluded
Total
Name
| Name | Componentandbasisofassetgrouporassetgroupportfolio | Operationsegmentandbasis | Consistentwithpreviousyears(Y/N)? |
Changesinassetgrouporassetgroupportfolio
| Name | Componentbeforechange | Componentafterchange | Objectivefactandbasisleadingtochange |
Otherexplanation
(4)Specificmethodofdeterminingtherecoverableamount
Therecoverableamountisdeterminedonthebasisofthenetamountafterdeductingdisposalexpensesfromfairvalue?Applicable?NotapplicableTherecoverableamountisdeterminedonthebasisofthepresentvalueofexpectedfuturecashflows
□Applicable?NotapplicableReasonsforsignificantdiscrepanciesbetweentheaforementionedinformationandtheinformationorexternalinformationusedinpreviousyears'impairmenttestingReasonsforsignificantdiscrepanciesbetweentheinformationusedinthecompany'spreviousannualimpairmenttestsandtheactualsituationofthecurrentyear
(5)Completionofperformancecommitmentsandcorrespondingimpairmentofgoodwill
Whengoodwillisformed,thereisaperformancecommitmentandthereportingperiodorthepreviousperiodiswithintheperformancecommitmentperiod
□Applicable?NotapplicableOtherexplanation:
28.Long-termexpensestobeapportioned
InRMB
| Item | Openingbalance | Currentamountincreased | Currentamortization | Otherdecreased | Endingbalance |
| Decorationfee | 7,335,025.84 | 606,399.67 | 2,071,622.22 | 5,869,803.29 | |
| Improvementexpenditureforfixassets | 13,393,709.04 | 8,746,681.95 | 4,973,792.09 | 17,166,598.90 | |
| Other | 3,965,583.17 | 1,800.00 | 990,596.68 | 2,976,786.49 | |
| Total | 24,694,318.05 | 9,354,881.62 | 8,036,010.99 | 26,013,188.68 |
Otherexplanation:
29.Deferredincometaxasset/Deferredincometaxliabilities
(1)Deferredincometaxassetsnotoffset
InRMB
| Item | Endingbalance | Openingbalance | ||
| Deductibletemporarydifferences | Deferredincometaxasset | Deductibletemporarydifferences | Deferredincometaxasset | |
| Impairmentprovisionforassets | 78,886,233.43 | 19,113,818.29 | 79,024,031.58 | 18,487,424.12 |
| Unrealizedprofitsininternaltransactions | 1,955,326.35 | 293,298.96 | 3,110,821.11 | 1,173,392.02 |
| Creditimpairmentloss | 131,272,060.28 | 32,427,392.41 | 131,582,333.01 | 32,508,076.97 |
| Leaseliabilities | 72,583,919.01 | 18,145,979.75 | 60,423,752.25 | 9,667,435.83 |
| Total | 284,697,539.07 | 69,980,489.41 | 274,140,937.95 | 61,836,328.94 |
(2)Deferredincometaxliabilitynotoffset
InRMB
| Item | Endingbalance | Openingbalance | ||
| Taxabletemporarydifferences | Deferredincometaxliabilities | Taxabletemporarydifferences | Deferredincometaxliabilities | |
| Assetevaluationappreciationofenterprisecombinationunderdifferentcontrol | 41,980,665.84 | 10,495,166.46 | 43,635,535.04 | 10,908,883.86 |
| Right-of-useasset | 68,309,530.63 | 17,077,382.66 | 56,763,213.31 | 9,108,070.16 |
| Total | 110,290,196.47 | 27,572,549.12 | 100,398,748.35 | 20,016,954.02 |
(3)Deferredincometaxassetsanddeferredincometaxliabilitieslistedasnetamountafteroffsetting
InRMB
| Item | Offsettingbetweenthedeferredincometaxassetsandliabilities | Endingbalanceofdeferredincometaxassetsorliabilitiesafteroffsetting | Trade-offbetweenthedeferredincometaxassetsandliabilitiesatperiod-begin | Openingbalanceofdeferredincometaxassetsorliabilitiesafteroffsetting |
| Deferredincometaxasset | 17,077,382.66 | 52,903,106.75 | 9,079,033.56 | 52,757,295.38 |
| Deferredincometaxliabilities | 17,077,382.66 | 10,495,166.46 | 9,079,033.56 | 10,937,920.46 |
(4)Detailsofunrecognizeddeferredincometaxassets
InRMB
| Item | Endingbalance | Openingbalance |
| Deductibletemporarydifferences | 151,802,527.41 | 73,593,637.62 |
| Deductibleloss | 319,287,351.61 | 251,212,047.17 |
| Total | 471,089,879.02 | 324,805,684.79 |
(5)Deductiblelossesofunrecognizeddeferredincometaxassetsexpiringinfollowingyears
InRMB
| Year | Endingbalance | Beginningbalance | Note |
| 2024 | 16,724,256.16 | ||
| 2025 | 59,047,529.92 | 56,660,853.56 | |
| 2026 | 24,075,232.20 | 19,393,006.74 |
| 2027 | 37,011,114.59 | 33,681,969.13 |
| 2028 | 95,247,245.53 | 98,962,940.16 |
| 2029 | 81,843,220.20 | 6,398,410.05 |
| 2030 | 1,592,707.06 | 1,592,707.06 |
| 2031 | 11,566,491.62 | 11,566,491.62 |
| 2032 | 6,231,412.69 | 6,231,412.69 |
| 2033 | 2,672,397.80 | |
| Total | 319,287,351.61 | 251,212,047.17 |
Otherexplanation:
30.Othernon-currentasset
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Propertytoberelocated | 3,523,917.24 | 3,523,917.24 | 3,523,917.24 | 3,523,917.24 | ||
| Prepaidforengineer | 2,497,360.73 | 2,497,360.73 | ||||
| Prepaidforsystem | 3,774,032.76 | 3,774,032.76 | ||||
| Total | 6,021,277.97 | 6,021,277.97 | 7,297,950.00 | 7,297,950.00 | ||
Otherexplanation:
31.Assetswithrestrictedownershiporuserights
InRMB
| Item | Ending | Beginning | ||||||
| Bookbalance | Bookvalue | Restrictiontype | Restrictionstatus | Bookbalance | Bookvalue | Restrictiontype | Restrictionstatus | |
| Monetaryfund | 9,263,948.38 | 9,263,948.38 | Guaranteedeposit,creditdeposit,lawsuitfreezing,etc. | 5,464,837.31 | 5,464,837.31 | Guaranteedeposit,creditdeposit.etc | ||
| Total | 9,263,948.38 | 9,263,948.38 | 5,464,837.31 | 5,464,837.31 | ||||
Otherexplanation:
32.Short-termloans
(1)Bycategory
InRMB
| Item | Endingbalance | Openingbalance |
| Loanincredit | 1,484,605,101.05 | 1,223,462,519.16 |
| Total | 1,484,605,101.05 | 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 | Openingbalance |
| Including: | ||
| Including: |
Otherexplanation:
34.Derivativefinancialliability
InRMB
| Item | Endingbalance | Openingbalance |
Otherexplanation:
35.Notepayable
InRMB
| Category | Endingbalance | Openingbalance |
Notesexpiringatyear-endnotrepaidwas0.00yuan.
36.Accountpayable
(1)Accountpayable
InRMB
| Item | Endingbalance | Openingbalance |
| Tradeaccountspayable | 320,908,083.65 | 157,073,307.00 |
| Accountpayableforengineerandequipment | 69,278,292.34 | 176,815,688.99 |
| Other | 2,600,723.24 | 2,276,200.81 |
| Total | 392,787,099.23 | 336,165,196.80 |
(2)Majoraccountspayablewithagingoveroneyearoroverduemajoraccountspayable
Otherexplanation:
37.Otheraccountpayable
InRMB
| Item | Endingbalance | Openingbalance |
| Dividendpayable | 2,933,690.04 | 2,933,690.04 |
| Otheraccountpayable | 265,387,637.46 | 275,112,561.49 |
| Total | 268,321,327.50 | 278,046,251.53 |
(1)Interestpayable
InRMB
| Item | Endingbalance | Openingbalance |
Importantoverdueandunpaidinterestsituation:
InRMB
| Borrower | Overdueamount | Overduereason |
Otherexplanation:
(2)Dividendpayable
InRMB
| Item | Endingbalance | Openingbalance |
| 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 | Openingbalance |
| Accountsreceivableandotherexpenses | 181,075,520.70 | 204,092,429.04 |
| Depositandmargin | 71,419,422.77 | 59,175,450.98 |
| Engineeringqualityassurancedepositandfinalpayment | 439,888.55 | 2,697,829.08 |
| Accruedexpenses | 12,452,805.44 | 9,146,852.39 |
| Total | 265,387,637.46 | 275,112,561.49 |
2)Significantotheraccountpayablewithagingover1yearoroverduesignificantotheraccountpayable
InRMB
| Item | Endingbalance | Reasonfornotrepayingorcarry-over |
38.Accountsreceivedinadvance
(1)Accountsreceivedinadvance
InRMB
| Item | Endingbalance | Openingbalance |
| Leasepaymentreceivedinadvance | 1,120,939.23 | 3,654.89 |
| Other | 568,809.63 | 1,081,046.71 |
| Total | 1,689,748.86 | 1,084,701.60 |
(2)Significantaccountsreceivedinadvancewithagingoveroneyearoroverduesignificantaccountsreceivedinadvance
InRMB
| Item | Endingbalance | Reasonfornotrepayingorcarry-over |
InRMB
| Item | Changeinamount | Reasonforchange |
39.Contractliabilities
InRMB
| Item | Endingbalance | Openingbalance |
| Advanceonsales | 126,590,458.95 | 86,566,253.73 |
| Total | 126,590,458.95 | 86,566,253.73 |
Significantcontractliabilitieswithagingover1year
InRMB
| Item | Endingbalance | Reasonfornotrepayingorcarry-over |
Amountandreasonsforimportantchangesinbookvalueintheperiod
InRMB
| Item | Changeinamount | Reasonforchange |
40.Wagepayable
(1)Wagepayable
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| I.Short-termcompensation | 253,139,696.10 | 233,803,876.16 | 312,986,714.32 | 173,956,857.94 |
| II.After-servicewelfare-definedcontributionplans | 12,314,242.50 | 27,439,433.28 | 32,886,693.69 | 6,866,982.09 |
| III.Dismissedwelfare | 760,724.60 | 75,058.39 | 109,108.39 | 726,674.60 |
| Total | 266,214,663.20 | 261,318,367.83 | 345,982,516.40 | 181,550,514.63 |
(2)Short-termcompensation
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| 1.Wage,bonus,allowanceandsubsidy | 244,877,081.13 | 188,746,265.77 | 267,341,101.67 | 166,282,245.23 |
| 2.Employees’welfare | 96,864.69 | 4,749,559.66 | 4,477,896.52 | 368,527.83 |
| 3.Socialinsurancecharges | 302,549.13 | 6,852,237.93 | 6,772,082.31 | 382,704.75 |
| Including:medicalinsurancepremium | 272,678.90 | 5,965,562.25 | 5,890,358.97 | 347,882.18 |
| Industrialinjuryinsurancepremiums | 3,329.93 | 485,056.04 | 482,256.09 | 6,129.88 |
| Maternity | 26,540.30 | 401,619.64 | 399,467.25 | 28,692.69 |
| insurancepremiums | ||||
| 4.Housingpublicreserve | 36,788.20 | 21,353,475.85 | 21,338,987.27 | 51,276.78 |
| 5.Tradeunionfeeandeducationfee | 7,817,412.95 | 4,927,162.83 | 6,018,623.43 | 6,725,952.35 |
| Non-monetarywelfare | 7,158,174.12 | 7,017,023.12 | 141,151.00 | |
| Othershort-termcompensation | 9,000.00 | 17,000.00 | 21,000.00 | 5,000.00 |
| Total | 253,139,696.10 | 233,803,876.16 | 312,986,714.32 | 173,956,857.94 |
(3)Definedcontributionplans
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| 1.Basicendowmentinsurancepremiums | 27,351.36 | 17,719,286.56 | 17,690,136.82 | 56,501.10 |
| 2.Unemploymentinsurancepremiums | 6,375.81 | 867,396.44 | 873,772.25 | |
| 3.Enterpriseannuity | 12,280,515.33 | 8,852,750.28 | 14,322,784.62 | 6,810,480.99 |
| Total | 12,314,242.50 | 27,439,433.28 | 32,886,693.69 | 6,866,982.09 |
Otherexplanation:
41.Taxespayable
InRMB
| Item | Endingbalance | Openingbalance |
| VAT | 2,133,176.38 | 3,929,827.56 |
| Enterpriseincometax | 95,215,697.77 | 78,612,383.92 |
| Personalincometax | 1,450,305.23 | 919,489.66 |
| Urbanmaintenanceandconstructiontax | 113,475.35 | 184,436.23 |
| Propertytax | 1,350,095.44 | 1,402,724.23 |
| Stamptax | 1,089,799.33 | 924,833.66 |
| Deedtax | 664,227.84 | 664,227.84 |
| Usetaxofland | 138,387.07 | 15,205.45 |
| Educationalsurtax | 81,630.62 | 253,657.15 |
| Environmentprotectiontax | 2,644.32 | |
| Total | 102,239,439.35 | 86,906,785.70 |
Otherexplanation:
42.Liabilityheldforsale
InRMB
| Item | Endingbalance | Openingbalance |
| SubsidiaryWuhanJiacheng | 66,579,828.59 | |
| Total | 0.00 | 66,579,828.59 |
Otherexplanation:
43.Non-currentliabilitiesduewithinoneyear
InRMB
| Item | Endingbalance | Openingbalance |
| Leaseliabilitiesduewithinoneyear | 42,927,367.21 | 22,805,473.76 |
| Total | 42,927,367.21 | 22,805,473.76 |
Otherexplanation:
44.Othercurrentliabilities
InRMB
| Item | Endingbalance | Openingbalance |
| Deferredoutputtax | 8,042,645.47 | 3,896,108.63 |
| Other | 0.00 | 31.93 |
| Total | 8,042,645.47 | 3,896,140.56 |
Changesofshort-termbondspayable:
InRMB
| Bonds | Facevalue | Issuancedate | Bondsterm | Amountissued | Openingbalance | Issuedintheperiod | Accrualinterestbyfacevalue | Premiumanddiscountamortization | Paidintheperiod | Endingbalance | Breachcontractornot(Y/N)? |
Otherexplanation:
45.Long-termloan
(1)Categoryoflong-termloan
InRMB
| Item | Endingbalance | Openingbalance |
Explanationoncategoryoflong-termloans:
Otherexplanation,includinginterestraterange:
46.Bondspayable
(1)Bondspayable
InRMB
| Item | Endingbalance | Openingbalance |
(2)Changesofbondspayable(notincludingpreferredstock,perpetualcapitalsecuritiesandotherfinancialinstrumentsclassifiedasfinancialliability)
InRMB
| Bonds | Facevalue | Couponrate | Issuancedate | Bondsterm | Amountissued | Openingbalance | Issuedintheperiod | Accrualinterestbyfacevalue | Premiumanddiscountamortization | Paidintheperiod | Endingbalance | Breachcontractornot(Y/N)? |
Total
| Total | —— | —— |
(3)Descriptionofconvertiblebonds
(4)Otherfinancialinstrumentsclassifiedasfinancialliability
Basicinformationoftheoutstandingpreferredstockandperpetualcapitalsecuritiesatperiod-endChangesofoutstandingpreferredstockandperpetualcapitalsecuritiesatperiod-end
InRMB
| Outstandingfinancialinstrument | Period-beginning | Currentincreased | Currentdecreased | Period-end | ||||
| Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | |
ExplanationonthebasisforclassifyingotherfinancialinstrumentintofinancialliabilityOtherexplanation
47.Leaseliability
InRMB
| Item | Endingbalance | Openingbalance |
| Leasepayments | 126,474,987.95 | 64,121,413.50 |
| Unrecognizedfinancingcharges | -5,463,119.98 | -3,570,988.00 |
| Leaseliabilitiesduewithinoneyear | -42,927,367.21 | -22,805,473.76 |
| Total | 78,084,500.76 | 37,744,951.74 |
Otherexplanation:
48.Long-termaccountpayable
InRMB
| Item | Endingbalance | Openingbalance |
| Specialaccountpayable | 16,636,326.62 | 17,994,633.05 |
| Total | 16,636,326.62 | 17,994,633.05 |
(1)Bynature
InRMB
| Item | Endingbalance | Openingbalance |
Otherexplanation:
(2)Specialaccountpayable
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | Causes |
| Depreciationfundsforfixedassetsofgovernmentreservegraindepots | 16,214,402.96 | 207,446.57 | 16,421,849.53 | ||
| Specialfundingforresearchinthegrainpublicwelfareindustry | 207,477.09 | 207,477.09 | |||
| ShenzhenHospitalPhaseIIIhousingexpropriationpropertyrights | 1,529,253.00 | 138,381.00 | 1,667,634.00 |
| exchange | ||||
| Grainandoilmarketmonitoringandearlywarningsubsidy | 3,500.00 | 3,500.00 | 7,000.00 | |
| Specialfundsfortheconstructionandmaintenanceofthegrainemergencysystem | 40,000.00 | 40,000.00 | ||
| Total | 17,994,633.05 | 349,327.57 | 1,707,634.00 | 16,636,326.62 |
Otherexplanation:
49.Long-termwagepayable
(1)Long-termwagepayable
InRMB
| Item | Endingbalance | Openingbalance |
(2)Changesofdefinedbenefitplans
Presentvalueofthedefinedbenefitplans:
InRMB
| Item | CurrentPeriod | LastPeriod |
Schemeassets:
InRMB
| Item | CurrentPeriod | LastPeriod |
Netliability(assets)ofthedefinedbenefitplans
InRMB
| Item | CurrentPeriod | LastPeriod |
Contentofdefinedbenefitplansandrelevantrisks,impactonfuturecashflowoftheCompanyaswellastimesanduncertainty:
Majoractuarialassumptionandsensitivityanalysisofdefinedbenefitplans:
Otherexplanation:
50.Accrualliabilities
InRMB
| Item | Endingbalance | Openingbalance | Causes |
Otherexplanation,includingrelevantimportantassumptionsandestimation:
51.Deferredincome
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | Causes |
| Governmentgrant | 82,819,873.24 | 4,057,114.25 | 7,673,371.50 | 79,203,615.99 | |
| Total | 82,819,873.24 | 4,057,114.25 | 7,673,371.50 | 79,203,615.99 | -- |
Otherexplanation:
52.Othernon-currentliabilities
InRMB
| Item | Endingbalance | Openingbalance |
Otherexplanation:
53.Sharecapital
InRMB
| Openingbalance | Currentincreased(decreased)+/- | 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 | Currentincreased | Currentdecreased | Period-end | ||||
| Quantity | Bookvalue | Quantity | Bookvalue | Quantity | Bookvalue | Quantity | Bookvalue | |
Explanationonchangesinotherequityinstrument,reasonsforchangesandrelevantaccountingtreatmentbasis:
Otherexplanation:
55.Capitalreserve
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| Capitalpremium(Sharecapitalpremium) | 1,267,255,141.21 | 4,243,305.73 | 1,263,011,835.48 | |
| Othercapitalreserve | 8,896,381.86 | 8,896,381.86 | ||
| Total | 1,276,151,523.07 | 4,243,305.73 | 1,271,908,217.34 |
Otherinstructions,includingchangesinthecurrentperiod,reasonsforchanges:
InSeptember2024,asubsidiaryoftheCompany,ShenzhenHualianGrainandOilTradingCo.,Ltd.purchased49%minorityequityinterestinitssubsidiary,ShuangyashanShenliangCerealsBaseCo.,Ltd.ThedifferencebetweenthetransactionconsiderationandthecorrespondingchangeintheshareholdingratiobasedonthefairvalueoftheidentifiablenetassetscalculatedcontinuouslyfromthepurchasedatewasadjustedtoreducecapitalreservebyRMB90,805.74.InDecember2024,theCompanycompletedtheequitydeliveryofXingyeFoodCo.,Ltd.(hereinafterreferredtoas“XingyeFood”),whichisasubsidiaryofShenzhenFoodMaterialsGroupCo.,Ltd.Thistransactionconstitutedabusinesscombinationunderthesamecontrol.Thedifferencebetweenthecarryingvalueofthecombinationconsideration(orthetotalparvalueoftheissuedshares)andthecarryingvalueofthenetassetsacquiredinthecombinationwasadjustedtoreducecapitalreserve(sharepremium)byRMB4,152,500.00.Meanwhile,thenetassetsincreasedduetothecombinationwereadjustedinthecapitalreserve
(sharepremium)undershareholders'equityinthecomparativefinancialstatements.Fortheportionoftheretainedearnings(sumofsurplusreservesandundistributedprofits)realizedbytheacquireebeforethebusinesscombinationthatbelongstothecombiningparty,itwastransferredfromcapitalreservetoretainedearnings.
56.Treasurystock
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
Otherexplanation,includingchangesandreasonforchanges:
57.Othercomprehensiveincome
InRMB
| Item | Openingbalance | CurrentPeriod | Endingbalance | |||||
| Accountbeforeincometaxintheperiod | Less:writteninothercomprehensiveincomeinpreviousperiodandcarriedforwardtogains/lossesincurrentperiod | Less:writteninothercomprehensiveincomeinpreviousperiodandcarriedforwardtoretainedearningsincurrentperiod | Less:incometaxexpense | Attributabletoparentcompanyaftertax | Attributabletominorityshareholdersaftertax | |||
| II.Othercomprehensiveincomere-classifiedintogains/losses | -833,174.82 | 254,811.82 | 42,043.95 | 212,767.87 | -620,406.95 | |||
| Exchangedifferencesontranslationofforeigncurrencyfinancialstatements | -833,174.82 | 254,811.82 | 42,043.95 | 212,767.87 | -620,406.95 | |||
| Totalofothercomprehensiveincome | -833,174.82 | 254,811.82 | 42,043.95 | 212,767.87 | -620,406.95 | |||
Otherexplanation,includingtheactivepartofthehedginggains/lossesofcashflowtransfertoinitialreorganizationadjustmentforthearbitrageditems:
58.Reasonablereserve
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| Worksafetyfee | 741,968.19 | 1,243,738.41 | 833,088.84 | 1,152,617.76 |
| Total | 741,968.19 | 1,243,738.41 | 833,088.84 | 1,152,617.76 |
Otherexplanation,includingchangesincurrentperiodandreasonforchanges:
59.Surpluspublicreserve
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| Statutorysurplusreserves | 483,103,366.38 | 133,626,331.30 | 616,729,697.68 |
| Total | 483,103,366.38 | 133,626,331.30 | 616,729,697.68 |
Otherexplanation,includingchangesincurrentperiodandreasonsforchanges:
60.Retainedprofit
InRMB
| Item | Currentperiod | Lastperiod |
| Retainedprofitatlastperiod-endbeforeadjustment | 1,916,792,566.57 | 1,910,954,084.79 |
| Totaladjustmentamountofretainedprofitatperiod-beginning(adjustmentincrease+/adjustmentdecrease-) | -10,287,612.07 | |
| Retainedprofitatperiod-beginningafteradjustment | 1,916,792,566.57 | 1,900,666,472.72 |
| Add:netprofitattributabletoshareholderofparentcompany | 325,309,578.52 | 347,739,109.06 |
| Less:withdrawaloflegalsurplusreserve | 133,626,331.30 | 43,479,201.71 |
| Commonstockdividendspayable | 230,507,050.80 | 288,133,813.50 |
| Retainedprofitatperiod-end | 1,877,968,762.99 | 1,916,792,566.57 |
Detailsaboutadjustingtheretainedprofitsatthebeginningoftheperiod:
1)DuetotheretroactiveadjustmentstoAccountingStandardsforBusinessEnterprisesanditsrelevantnewregulations,theretainedprofitatthebeginningoftheperiodwasaffectedbynegative148,597.5yuan.
2)Duetochangesinaccountingpolicies,theretainedprofitatthebeginningoftheperiodwasaffectedby0.00yuan.
3)Duetomajoraccountingerrorcorrection,theretainedprofitatthebeginningoftheperiodwasaffectedby0.00yuan
4)Duetochangesinmergescopecausedbythesamecontrol,theretainedprofitsatthebeginningoftheperiodwasaffectedby-10,436,209.66yuan.
5)Duetootheradjustments,theretainedprofitsatthebeginningoftheperiodwasaffectedby0.00yuan.
61.Operatingrevenueandoperatingcost
InRMB
| Item | Currentperiod | Lastperiod | ||
| Income | Cost | Income | Cost | |
| Mainbusiness | 5,371,493,401.89 | 4,477,833,978.58 | 6,189,691,606.18 | 5,228,738,901.98 |
| Otherbusiness | 3,596,445.02 | 1,167,456.25 | 313,750.64 | 106,899.36 |
| Total | 5,375,089,846.91 | 4,479,001,434.83 | 6,190,005,356.82 | 5,228,845,801.34 |
Whethertheloweroftheauditednetprofitbeforeandafterdeductionofnon-recurringgains/lossesisnegativeornot?
□Yes?NoInformationonbreakdownofoperationincomeandcost:
InRMB
| Category | Branch1 | Branch2 | Total | |||||
| Operatingrevenue | Operatingcost | Operatingrevenue | Operatingcost | Operatingrevenue | Operatingcost | Operatingrevenue | Operatingcost | |
| Businesstypes | ||||||||
| Including: | ||||||||
Classificationbybusinessarea
| Classificationbybusinessarea |
| Including: |
Marketor
| customertype |
| Including: |
Contracttypes
| Contracttypes |
| Including: |
Classificationbytimeofgoodstransfer
| Classificationbytimeofgoodstransfer |
| Including: |
Classificationbycontractduration
| Classificationbycontractduration |
| Including: |
Classificationbysaleschannel
| Classificationbysaleschannel |
| Including: |
Total
Informationrelatingtoperformanceobligations:
Total
Item
| Item | Timeforperformanceobligations | Importantpaymentterms | Natureofthegoodspromisedtotransferbythecompany | Isitthemainresponsibleperson? | Expectedrefundstocustomersbornebythecompany | Typesofqualityassuranceprovidedbythecompanyandrelatedobligations |
OtherexplanationsInformationrelatedtothetransactionpriceallocatedtotheremainingperformanceobligations:
Attheendofthisreportingperiod,thecontracthasbeensigned,buttheincomecorrespondingtounfulfilledorincompleteperformanceobligationsis126,590,458.95yuan,whichisexpectedtoberecognizedintheyearof2025.Relatedinformationofcontractvariableprice:
Significantcontractchangesorsignificanttransactionpriceadjustments
InRMB
| Item | Accountingtreatmentmethod | Impactonincome |
Otherexplanation:
62.Taxandsurcharge
InRMB
| Item | Currentperiod | Lastperiod |
| Urbanmaintenanceandconstructiontax | 1,221,674.64 | 1,383,698.15 |
| Educationsurcharge | 944,426.67 | 1,051,442.01 |
| Propertytax | 13,228,693.85 | 11,861,483.21 |
| Usetaxofland | 1,860,162.47 | 1,957,226.62 |
| Vehicleandvesselusetax | 21,598.24 | 19,917.36 |
| Stampduty | 2,363,400.05 | 2,629,698.94 |
| Other | 12,703.14 | 6,972.53 |
| Total | 19,652,659.06 | 18,910,438.82 |
Otherexplanation:
63.Administrationexpenses
InRMB
| Item | Currentperiod | Lastperiod |
| Laborandsocialsecuritybenefits | 92,027,598.27 | 132,104,257.58 |
| Depreciationandamortizationoflong-termassets | 43,892,426.93 | 43,251,708.23 |
| Officeexpenses | 7,832,785.01 | 5,977,040.35 |
| Intermediaryagencyfees | 4,537,569.50 | 4,727,255.72 |
| Communicationexpense | 2,163,612.00 | 1,738,151.72 |
| Vehicleusagefee | 1,694,972.94 | 2,134,383.20 |
| Travellingexpense | 1,130,140.38 | 1,131,371.09 |
| Rental | 713,648.91 | 454,215.27 |
| Repairingexpense | 624,504.35 | 969,999.94 |
| Low-valueconsumable | 505,314.41 | 456,480.17 |
| Businesshospitality | 409,836.76 | 760,742.03 |
| Relocationandshutdowncosts | 37,526.60 | 25,476.09 |
| Other | 12,675,264.53 | 19,334,010.25 |
| Total | 168,245,200.59 | 213,065,091.64 |
Otherexplanation:
64.Salesexpense
InRMB
| Item | Currentperiod | Lastperiod |
| Laborandsocialsecuritybenefits | 99,897,664.20 | 114,823,759.85 |
| Depreciationandamortizationoflong-termassets | 9,900,670.84 | 11,669,044.05 |
| Officeexpenses | 10,845,695.36 | 10,373,217.31 |
| Salesservicefee | 7,295,139.32 | 6,944,356.95 |
| Storageandloading/unloadingfees | 1,298,777.88 | 8,973,219.39 |
| Lowvalueconsumablesandotherlossexpenses | 3,722,408.10 | 899,870.58 |
Travelexpenses
| Travelexpenses | 2,556,940.10 | 3,007,934.57 |
| Businesshospitality | 1,098,538.42 | 1,505,531.70 |
| Advertisingexpenses | 274,794.60 | 1,100,020.83 |
| Rental | 514,723.11 | 1,175,659.26 |
| Propertyinsurancepremium | 1,199,180.50 | 939,751.88 |
| Logisticsandtransportationcosts | 702,660.09 | 551,895.13 |
| Salescommission | 75,437.50 | |
| Vehicleusefee | 284,432.28 | 260,081.34 |
| Other | 10,218,705.16 | 14,130,055.64 |
| Total | 149,810,329.96 | 176,429,835.98 |
Otherexplanation:
65.R&Dexpenses
InRMB
| Item | Currentperiod | Lastperiod |
| Laborandsocialsecuritybenefits | 12,077,363.97 | 12,149,800.39 |
| Directinvestment | 7,521,427.97 | 2,895,753.44 |
| Depreciationandamortization | 3,063,811.07 | 3,174,111.67 |
| EntrustedR&Dexpense | 80,188.68 | 117,726.42 |
| Travelexpense | 847,673.24 | 650,799.60 |
| Inspectionanddebuggingexpense | 929,050.82 | 604,082.75 |
| Otherexpenses | 689,128.68 | 453,090.41 |
| Total | 25,208,644.43 | 20,045,364.68 |
Otherexplanation:
66.Financialexpense
InRMB
| Item | Currentperiod | Lastperiod |
| Interestexpenses | 33,986,936.32 | 39,968,255.33 |
| Including:interestexpensesofleaseliability | ||
| Less:interestcapitalization | ||
| Interestincome | -1,832,540.57 | -959,189.54 |
| Exchangegains/losses | 75,332.11 | 286,319.71 |
| Handlingfeeandothers | 448,518.55 | 767,442.39 |
| Total | 32,678,246.41 | 40,062,827.89 |
Otherexplanation:
67.Otherincome
InRMB
| Sources | Currentperiod | Lastperiod |
| Governmentgrant | 10,243,944.62 | 14,663,529.88 |
| Inputtaxdeduction | 1,579,562.14 | 7,890,252.79 |
| Handlingfeesforwithholdingpersonalincometax | 454,718.47 | 398,387.36 |
| Other | 62,310.23 | 16,988.26 |
| Total | 12,340,535.46 | 22,969,158.29 |
68.Netexposurehedgegains
InRMB
| Item | Currentperiod | Lastperiod |
Otherexplanation:
69.Incomeoffairvaluechanges
InRMB
| Sources | Currentperiod | Lastperiod |
| Tradablefinancialassets | -105,784.51 | |
| Tradablefinancialliabilities | 288,486.18 | |
| Total | 0.00 | 182,701.67 |
Otherexplanation:
70.Investmentincome
InRMB
| Item | Currentperiod | Lastperiod |
| Long-termequityinvestmentincomemeasuredwithequitymethod | -3,992,524.74 | 3,332,391.85 |
| Investmentincomefromthedisposaloflong-termequityinvestment | 2,890,749.95 | |
| Investmentincomefromthedisposaloftradablefinancialassets | 2,123,849.30 | |
| Incomefromfinancialproducts | 2,394,668.46 | 6,622,492.60 |
| Total | 3,416,742.97 | 9,954,884.45 |
Otherexplanation:
71.Creditimpairmentloss
InRMB
Otherexplanation:
72.Assetimpairmentloss
InRMB
| Item | Currentperiod | Lastperiod |
| I.Inventorydepreciationlossandimpairmentlossofcontractperformancecost | -102,204,026.35 | -104,336,237.13 |
| VI.Impairmentlossesofconstructioninprogress | -155,050.00 | |
| Total | -102,359,076.35 | -104,336,237.13 |
Otherexplanation:
73.Incomefromdisposalofassets
InRMB
| Sources | Currentperiod | Lastperiod |
| Gainsfromthedisposalofnon-currentassets(disposalgroup)heldforsale(lossesshallbefilledinwith“-”) | 2,394,378.42 | |
| Incomefromthedisposaloffixedassets(lossesshallbefilledinwith“-”) | 41,906.80 | |
| Incomefromthedisposalofintangibleassets(lossesshallbefilledinwith“-”) | 5,239,932.45 | |
| Total | 5,281,839.25 | 2,394,378.42 |
74.Non-operationincome
InRMB
| Item | Currentperiod | Lastperiod | Amountincludedinthecurrentnon-recurringgains/losses |
| Governmentgrants | 16,500.00 | 16,500.00 |
Item
| Item | Currentperiod | Lastperiod |
| Lossofbaddebtofaccountsreceivable | -417,686.25 | -3,599,093.34 |
| Lossofbaddebtofotheraccountsreceivable | 643,505.99 | 426,721.19 |
| Lossofbaddebtsofaccountsprepaid | -59,090.80 | |
| Total | 166,728.94 | -3,172,372.15 |
| Gainsfromdamageandscrappingofnon-currentassets | 14,444.62 | 51,232.64 | 14,444.62 |
| Gainsfrominventorysurplus | 3,081.80 | 6,062.93 | 3,081.80 |
| Nopaymentrequired | 827,455.51 | ||
| Liquidateddamagescompensationincome | 246,085.99 | 1,457,192.35 | 246,085.99 |
| Other | 328,634.72 | 103,784.80 | 328,634.72 |
| Total | 608,747.13 | 2,445,728.23 | 608,747.13 |
Otherexplanation:
75.Non-operatingexpenditure
InRMB
| Item | Currentperiod | Lastperiod | Amountincludedincurrentnon-recurringgains/losses |
| Externaldonations | 21,613.38 | 21,613.38 | |
| Penaltyexpensesandliquidateddamages | 13,907.66 | 1,291,772.38 | 13,907.66 |
| Lossofscrapfrominventory | 176,715.04 | 176,715.04 | |
| Lossofscrapfromnon-currentassets | 142,968.10 | 105,910.32 | 142,968.10 |
| Other | 248,775.50 | 403,290.79 | 248,775.50 |
| Total | 603,979.68 | 1,800,973.49 | 603,979.68 |
Otherexplanation:
76.Incometaxexpense
(1)Incometaxexpense
InRMB
| Item | Currentperiod | Lastperiod |
| Currentincometaxexpenses | 96,132,421.18 | 87,781,940.01 |
| Deferredincometaxexpenses | -931,158.99 | -13,045,542.44 |
| Total | 95,201,262.19 | 74,736,397.57 |
(2)Adjustmentprocessofaccountingprofitandincometaxexpenses
InRMB
| Item | Currentperiod |
| Totalprofit | 419,344,869.35 |
| Incometaxexpensescalculatedbystatutory/applicabletaxrate | 62,901,730.40 |
| Impactfromdifferenttaxrateapplicablewithsubsidiaries | -133,122.96 |
| Effectofadjustingincometaxinthepreviousperiod | -973,807.22 |
| Impactofnon-taxableincome | -24,551,943.95 |
| Impactofcost,expensesandlossesunabletobededucted | 22,197,551.21 |
| Impactoftheuseofapreviouslyunrecognizeddeferredincometaxassetondeductiblelosses | -6,441,586.90 |
| Impactofunrecognizeddeferredincometaxassetsincurrentperiodondeductibletemporarydifferencesordeductiblelosses | 51,108,299.25 |
| Gains/lossesofjointventuresandassociatedenterprisesmeasuredwithequitymethod | -998,131.19 |
| TaxinfluenceofadditionaldeductionofR&Dexpenditure(filledinwith“-”) | -2,733,712.87 |
| Other | -5,174,013.58 |
| Incometaxexpenses | 95,201,262.19 |
Otherexplanation:
77.Othercomprehensiveincome
Refertonotesfordetails.
78.Itemsofcashflowstatement
(1)CashreceivedwithoperatingactivitiesconcernedCashreceivedwithotheroperatingactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Intercoursefundsanddeposit | 255,222,055.70 | 262,341,355.02 |
| Governmentgrants | 6,582,472.32 | 13,485,589.19 |
| Interestincome | 1,446,480.80 | 959,189.53 |
| Other | 2,734,551.18 | 7,408,191.12 |
| Total | 265,985,560.00 | 284,194,324.86 |
Noteofcashpaidwithotheroperatingactivitiesconcerned:
Cashpaidwithotheroperatingactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Intercoursefundsanddeposit | 12.814.346.92 | 200,194,238.36 |
| Dailyoperatingexpenses | 116,004,859.92 | 93,274,316.07 |
| Other | 4,979,022.31 | 3,693,027.65 |
| Total | 133,798,229.15 | 297,161,582.08 |
Noteofcashpaidwithotheroperatingactivitiesconcerned:
(2)Cashwithinvestmentactivitiesconcerned
Cashreceivedwithotherinvestmentactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Externallendingrecovered | 726,511.34 | |
| Total | 0.00 | 726,511.34 |
Significantcashreceivedwithotherinvestmentactivitiesconcerned:
Explanationoncashreceivedwithotherinvestmentactivitiesconcerned：
Cashpaidwithotherinvestmentactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Netcashflowfromthedisposalofsubsidiaries | 7,559,395.68 | |
| Total | 7,559,395.68 | 0.00 |
SignificantcashpaidwithinvestmentactivitiesconcernedCashpaidwithotheroperatingactivitiesconcerned
(3)CashwithfinancingactivitiesconcernedCashreceivedwithotherfinancingactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
Noteofcashreceivedwithotherfinancingactivitiesconcerned:
Cashpaidwithotherfinancingactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Operatingleasepaid | 21,955,877.40 | 20,079,954.38 |
| Paymentofminorityshareholderequity | 11,106,589.90 | |
| Purchaseofminorityshareholderequity | 28,856,000.00 | 3,344,850.00 |
| Total | 50,811,877.40 | 34,531,394.28 |
Explanationoncashpaidwithotherfinancingactivitiesconcerned:
Changesinliabilitiesarisingfromfinancingactivities?Applicable□Notapplicable
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | ||
| Cashchange | Non-cashchange | Cashchange | Non-cashchange | |||
| Short-termborrow | 1,223,462,519.16 | 3,395,816,991.96 | 847,880.55 | 3,132,663,497.78 | 2,858,792.84 | 1,484,605,101.05 |
| Leaseliabilities | 60,596,042.05 | 82,371,703.32 | 21,955,877.40 | 121,011,867.97 | ||
| Total | 1,284,058,561.21 | 3,395,816,991.96 | 83,219,583.87 | 3,154,619,375.18 | 2,858,792.84 | 1,605,616,969.02 |
(4)Cashflowlistedatnetamount
| Item | Relevantfacts | Basisforbeinglistedatnetamount | Financialimpact |
(5)Significantactivitiesandfinancialimpactsthatdonotinvolvecurrentcashinflowandoutflowbutaffectthefinancialconditionofthecompanyormayaffectthecashflowofthecompanyinthefuture
79.Supplementaryinformationofcashflowstatement
(1)Supplementaryinformationofcashflowstatement
InRMB
| Supplementaryinformation | Currentamount | Lastamount |
| 1.Netprofitadjustedtocashflowofoperationactivities: | ||
| Netprofit | 324,143,607.16 | 346,546,867.19 |
| Add:Impairmentprovisionofassets | 103,280,186.26 | 107,508,609.28 |
| Depreciationoffixedassets,consumptionofoilassetsanddepreciationofproductivebiologyassets | 132,209,130.59 | 111,231,937.94 |
| Depreciationofright-of-useassets | 5,228,150.97 | 22,328,053.93 |
| Amortizationofintangibleassets | 32,504,390.74 | 34,397,837.54 |
| Amortizationoflong-termdeferredexpenses | 7,307,115.11 | 8,660,628.62 |
| Lossfromthedisposaloffixedassets,intangibleassetsandotherlong-termassets(incomeislistedwith“-”) | -5,294,363.80 | -2,394,378.42 |
| Lossesonscrappingoffixedassets(incomeislistedwith“-“) | 50,779.47 | 54,677.68 |
| Lossfromchangeoffairvalue | -182,701.67 |
| (incomeislistedwith“-“) | ||
| Financialexpenses(incomeislistedwith“-”) | 76,139,497.95 | 39,973,327.68 |
| Investmentloss(incomeislistedwith“-”) | -14,559,424.88 | -9,954,884.45 |
| Decreaseofdeferredincometaxassets(increaseislistedwith“-”) | -419,064.89 | -15,049,702.87 |
| Increaseofdeferredincometaxasset((increaseislistedwith“-”) | -413,717.40 | 2,034,884.00 |
| Decreaseofinventory(increaseislistedwith“-”) | 761,631,627.99 | 27,253,849.60 |
| Decreaseofoperatingreceivableaccounts(increaseislistedwith“-”) | 1,167,426,765.77 | 92,190,867.25 |
| Increaseofoperatingpayableaccounts(decreaseislistedwith“-”) | -2,605,796,038.83 | -178,865,157.69 |
| Other | 1,243,738.41 | |
| Netcashflowarisingfromoperatingactivities | -15,317,619.38 | 585,734,715.61 |
| 2.Materialinvestmentandfinancingnotinvolvedincashflow | ||
| Conversionofdebtintocapital | ||
| Convertiblecompanybondsduewithinoneyear | ||
| Financingleaseoffixedassets | ||
| Right-of-useassets | 87,634,760.25 | 7,645,189.94 |
| 3.Netchangeofcashandcashequivalents: | ||
| Endingbalanceofcash | 158,935,342.85 | 236,745,667.10 |
| Less:beginningbalanceofcash | 236,745,667.10 | 62,254,288.58 |
| Add:endingbalanceofcashequivalents | ||
| Less:beginningbalanceofcashequivalents | ||
| Netincreaseofcashandcashequivalents | -77,810,324.25 | 174,491,378.52 |
(2)NetcashpaidforobtainingsubsidiaryinthePeriod
InRMB
| Amount | |
| Including: | |
| Including | |
| Including: |
Otherexplanation:
(3)NetcashreceivedbydisposingsubsidiariesinthePeriod
InRMB
| Amount | |
| NetcashorcashequivalentsreceivedbydisposingsubsidiariesinthePeriod | 18,619,360.20 |
| Including: | |
| WuhanJiacheng | 16,360,810.20 |
| Zhenpin | 2,258,550.00 |
| Minus:Cashandcashequivalentsheldbysubsidiariesonthedaylosingcontrolright | 7,559,395.68 |
| Including: | |
| WuhanJiacheng | 3,118,813.43 |
| Zhenpin | 4,440,552.25 |
| Including: |
| Netcashreceivedfromdisposingsubsidiaries | 11,059,964.52 |
Otherexplanation:
(4)Componentofcashandcashequivalents
InRMB
| Item | Endingbalance | Openingbalance |
| I.Cash | 158,935,342.85 | 236,745,667.10 |
| Including:Cashonhand | 9,442.96 | 11,234.32 |
| Bankdepositavailableforpaymentatanytime | 158,925,899.89 | 236,734,432.78 |
| III.Endingbalanceofcashandcashequivalents | 158,935,342.85 | 236,745,667.10 |
(5)Itemswithrestrictedapplicationscopestillbelongtocashandcashequivalents
InRMB
| Item | Currentamount | Lastamount | Reasonforstillbelongingtocashandcashequivalents |
(6)Monetaryfundsnotbelongingtocashandcashequivalents
InRMB
| Item | Currentamount | Lastamount | Reasonfornotbelongingtocashandcashequivalents |
| Monetaryfunds | 9,263,948.38 | 5,464,837.31 | Creditdeposit,litigationpreservation |
| Total | 9,263,948.38 | 5,464,837.31 |
Otherexplanation:
(7)Explanationonothersignificantactivities
80.Notesofchangesofowners’equity
Explainthenameandadjustedamountin“Other”thathavebeenadjustedtotheendingbalanceofthepreviousyear
81.Foreigncurrencymonetaryitems
(1)Foreigncurrencymonetaryitems
InRMB
| Item | Endingforeigncurrencybalance | Convertrate | EndingRMBbalanceconverted |
| Monetaryfund | 5,338,018.28 | ||
| Including:USD | 170,791.46 | 7.1884 | 1,227,822.02 |
| EURO | |||
| HKD | 4,438,465.14 | 0.92604 | 4,110,196.26 |
Accountreceivable
| Accountreceivable | 1,035,374.09 | ||
| Including:USD | 89,291.19 | 7.1884 | 641,860.79 |
| EURO | |||
| HKD | 424,947.65 | 0.92604 | 393,513.30 |
Long-termborrow
| Including:USD |
| EURO |
| HKD |
Otherexplanation:
(2)Explanationonoverseasoperatingentities,includingdisclosureoftheirmainoverseasoperatinglocation,accountingcurrency,andselectioncriteriaforimportantoverseasoperatingentities.Iftheaccountingcurrencychanges,thereasonsshouldalsobedisclosed.
□Applicable?Notapplicable
82.Lease
(1)Thecompanyasleaser
?Applicable?Notapplicable
(2)Thecompanyasleasee
Operatingleasewiththecompanyasleasee?Applicable□Notapplicable
InRMB
| Item | Leaseincome | Including:incomerelatedtovariableleasepaymentsnotincludedinleasepayments |
| Renthousing,equipment,etc. | 149,643,064.27 | |
| Total | 149,643,064.27 |
Financingleasewiththecompanyaslessor
□Applicable?NotapplicableAnnualleasepaymentsnotdiscountedinthenextfiveyears
□Applicable?NotapplicableAdjustmenttableforleasepaymentnotdiscountedandnetleaseinvestments
(3)Recognizegains/lossesfromfinancingleaseasproducerordealer
□Applicable?Notapplicable
83.Dataresource
84.Others
VIII.R&Dexpenditure
InRMB
| Item | Currentperiod | Lastperiod |
1.R&Ditemsthatmeetcapitalizationconditions
InRMB
| Item | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance | ||||
| Internaldevelopmentexpenditure | Other | Recognizedasintangibleassets | Carriedforwardtocurrentgains/losses | |||||
Total
MajorcapitalizedR&Ditems
Total
Items
| Items | R&Dprogress | Estimatedcompletiontime | Expectedwayofgeneratingeconomicbenefits | Startingpointofcapitalization | Specificbasisforstartingcapitalization |
ImpairmentprovisionforR&Dexpenditure
InRMB
| Item | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance | Impairmenttest |
2.Importantoutsourcedprojectsunderresearch
| Item | Expectedwayofgeneratingeconomicbenefits | Thecriteriaandspecificbasisfordeterminingcapitalizationorexpensing |
Otherexplanation:
IX.Changesinconsolidationrange
1.Enterprisecombinationnotunderthesamecontrol
(1)Enterprisecombinationnotunderthesamecontrol
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 |
ExplanationonthemethodfordeterminingthefairvalueofcombinationcostsExplanationoncontingentconsiderationsandtheirchanges:
MainreasonsfortheformationoflargegoodwillOtherexplanation:
(3)Identifiableassetsandliabilitiesoftheacquireeonpurchasingdate
InRMB
Portionofgoodwill/combinationcostlessthanthesharesoffairvalueofidentifiablenetassetsacquiredFairvalueonpurchasingdate
| Fairvalueonpurchasingdate | Bookvalueonpurchasingdate | |
| Assets: | ||
| Monetaryfunds | ||
| Accountsreceivable | ||
| Inventory | ||
| Fixedassets | ||
| Intangibleassets |
Liability:
| Liability: |
| Loan |
| Accountspayable |
| Deferredtaxliabilities |
Netassets
| Netassets |
| Less:Minorityinterests |
| Netassetsacquired |
Determinationmethodforfairvalueoftheidentifiableassetsandliabilities:
Contingentliabilitiesassumedbytheacquireeinenterprisecombination:
Otherexplanation:
(4)Gains/lossesarisingfromtheequityheldbeforepurchasingdatewhicharere-measuredatfairvalueWhetherthereisanytransactionthatachievesenterprisecombinationthroughmultipletransactionsandobtainscontrolduringthereportingperiodornot?
□Yes?No
(5)Explanationonfailingtoreasonablydeterminethecombinationconsiderationorthefairvalueofidentifiableassetsandliabilitiesoftheacquireeonthepurchasingdateoratthecombinationperiod-end
(6)Otherexplanation
2.Businesscombinationunderthesamecontrol
(1)BusinesscombinationunderthesamecontrolinthePeriod
InRMB
| Acquiree | Equityratioobtainedincombination | Basisofenterprisecombinationunderthesamecontrol | Combinationdate | Standardtodeterminethecombinationdate | Incomeoftheacquireefromthecombinationperiod-begintothecombinationdate | Netprofitoftheacquireefromthecombinationperiod-begintothecombinationdate | Incomeoftheacquireeduringthecomparisonperiod | Netprofitoftheacquireeduringthecomparisonperiod |
| XingyeFoodTradingCo.,Ltd. | 100.00% | BeforetheCompany'smergerwithXingyeFoodTradingCo.,Ltd.,bothwerecontrolledbyShenzhenAgriculturalPowerGroupCo.,Ltd. | 2024-12-24 | Dateacquiringthecontrolrightoftheacquiree | 127,320.37 | 92,048.86 | -85,624.62 |
Otherexplanation:
AccordingtotheequitytransferagreementbetweentheCompanyandShenzhenAgriculturalPowerGroupCo.,Ltd.,theCompanyagreedtoacquire100.00%equityofXingyeFoodCo.,Ltd.heldbythelatterattheconsiderationof4,152,500.00yuan.Beforethistransaction,boththeCompanyandXingyeFoodwerecontrolledbyShenzhenAgriculturalPowerGroupCo.,Ltd.,makingthisabusinesscombinationunderthesamecontrol.
(2)Combinationcost
InRMB
| Combinationcost | |
| --Cash | 4,152,500.00 |
| --Bookvalueofnon-cashassets | |
| --Bookvalueofdebtsissuedorassumed | |
| --Facevalueofequitysecuritiesissued | |
| --Contingentconsideration |
Explanationoncontingentconsiderationanditschanges:
Otherexplanation:
(3)Bookvalueoftheassetsandliabilitiesoftheacquireeoncombinationdate
InRMB
| Combinationdate | Endingbalanceoflastperiod | |
| Assets: | 4,344,216.28 | 4,398,060.25 |
| Monetaryfunds | 3,949,901.14 | 4,356,180.68 |
| Accountreceivable | 366,711.84 | 14,276.27 |
| Inventory | ||
| Fixedassets | 27,603.30 | 27,603.30 |
| Intangibleassets |
Liability:
| Liability: |
| Loan |
| Accountpayable |
Netassets
| Netassets | 4,344,216.28 | 4,039,399.55 |
| Less:Minorityinterests | ||
| Netassetsacquired | 4,344,216.28 | 4,039,399.55 |
ContingentliabilityofthecombinedpartyassumedbytheCompanyduringcombination:
Otherexplanation:
3.Reversepurchase
Basictransactioninformation,basisofcounterpurchase,whethermakingupbusinessduetotheassetsandliabilityreservedbylistedcompanyandbasis,determinationofcombinationcost,amountandcalculationonadjustedequitybyequitytransaction:
4.DisposalofsubsidiariesWhetherthereisanysituationwhereasingledisposalofinvestmentinasubsidiaryresultinlossofcontrolornot??Yes?No
InRMB
| Subsidiaryname | Disposalpriceatthetimeoflossofcontrol | Proportionofdisposalatthetimeoflossofcontrol | Disposalmethodsatthetimeoflosingcontrol | Timeoflosingcontrol | Basisfordeterminingthetimeoflosingcontrol | Thedifferencebetweenthedisposalpriceandtheshareofthesubsidiary’snetassetsintheconsolidatedfinancialstatementscorrespondingtothedisposalofinvestment | Theproportionofremainingequityonthedateoflossofcontrol | Onthedateoflossofcontrol,thebookvalueoftheremainingequityintheconsolidatedfinancialstatement | Fairvalueofremainingequityintheconsolidatedfinancialstatementonthedateoflossofcontrol | Gains/lossesarisingfromre-measurementofremainingequityatfairvalue | Methodandmainassumptionsfordeterminingthefairvalueofremainingequityintheconsolidatedfinancialstatementonthedateoflossofcontrol | Theamountofothercomprehensiveincomerelatedtoequityinvestmentsinsubsidiariestransferredtoinvestmentgains/lossesorretainedearnings |
| ZhenpinMarketOperationTechnologyCo.,Ltd. | 3,977,261.71 | 100.00% | Sell | 2024-11-30 | Accordingtotheequitytransferagreementandtheconditionsforthetransferofcontrol,thefinaldateforcompletingtheindustrialandcommercialchangeisdeterminedtobethedateoflossofcontrol | 1,506,747.71 |
Otherexplanation:
Whetherthereisanysituationwhereinvestmentsinsubsidiariesaredisposedbystepsthroughmultipletransactionsandcontrolislostinthecurrentperiodornot?
□Yes?No
5.Otherreasonsforchangesinconsolidationrange
Consolidationscopechangescausedbyotherreasons(eg,establishnewsubsidiaries,liquidatesubsidiaries)andtherelatedcircumstances:
6.Other
X.Equityinotherentities
1.Equityinsubsidiaries
(1)Membershipofenterprisegroup
| Subsidiary | Registeredcapital | Mainplaceofoperation | Registrationplace | Businessnature | Shareholdingratio | 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 | 100.00% | 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% | Combineunderthesamecontrol | |
| 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 | 100.00% | Combineunderthesamecontrol | |
| ShenliangHongjun | 30,000,000.00 | ShenzhenCity | ShenzhenCity | Catering | 51.00% | Establishment | |
| DongguanHualian | 10,000,000.00 | DongguanCity | DongguanCity | Grainandoiltrade | 100.00% | Establishment | |
| ShenliangProperty | 5,000,000.00 | ShenzhenCity | ShenzhenCity | Propertymanagement | 100.00 | Establishment | |
| Management | % | ||||||
| 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 | Comprehensivebusinesses | 100.00% | Establishment | |
| ShenshenbaoInvestment | 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 | HangzhouCity | HangzhouCity | Grainandoilwholesale | 100.00% | Establishment | |
| FuhaitangCatering | 1,000,000.00 | HangzhouCity | HangzhouCity | Catering | 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 | Pu’erCity | Pu’erCity | Manufacturing | 100.00% | Establishment | |
| HuizhouShenliangFood | 5,000,000.00 | HuizhouCity | ShenzhenCity | Wholesalebusiness | 100.00% | Establishment | |
| XingyeFood | 500,000.00 | HongKong(China) | HongKong(China) | Wholesalebusiness | 100.00% | Businesscombinationunderthesamecontrol |
Explanationonshareholdingratioinsubsidiariesdifferentfromratioofvotingright:
Explanationonthebasisforcontrollingtheinvesteewithhalforbelowvotingrightsheldandwithoutcontrollingtheinvestee,orexplanationonthebasisfornotcontrollingtheinvesteewithoverhalfvotingrights:
Explanationonthebasisforcontroltheimportantstructuredentitiesincludedintheconsolidationscope:
Basisfordeterminingwhetherthecompanyisanagentorconsignor:
Otherexplanation:
(2)Importantnon-wholly-ownedsubsidiary
InRMB
| Subsidiary | Shareholdingratioofminorityshareholders | Gains/lossesattributabletominorityinthePeriod | DividendannouncedtodistributeforminorityinthePeriod | Endingequityofminority |
Explanationonthesituationwheretheshareholdingratioofminorityshareholdersisdifferentfromthevotingrightratioofminorityshareholders:
Otherexplanation:
(3)Mainfinancialinformationoftheimportantnon-wholly-ownedsubsidiaries
InRMB
| Subsidiary | Endingbalance | Openingbalance | ||||||||||
| Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | |
InRMB
| Subsidiary | CurrentPeriod | LastPeriod | ||||||
| Operatingrevenue | Netprofit | Totalcomprehensiveincome | Cashflowfromoperationactivity | Operatingrevenue | Netprofit | Totalcomprehensiveincome | Cashflowfromoperationactivity | |
Otherexplanation:
(4)Significantrestrictionsontheuseofenterprisegroupassetsandtherepaymentofdebtsoftheenterprisegroup
(5)FinancialorothersupportofferedtothestructuredentitiesincludedinconsolidatedfinancialstatementsOtherexplanation:
2.Transactionswheretheshareofowner’sequityinasubsidiarychangewhilethesubsidiaryisstillcontrolled
(1)Explanationonchangesinowner’sequitysharesinsubsidiary
(2)Impactofsuchtransactiononequityofminorityinterestsandowners’equityattributabletoparentcompany
InRMB
| Purchasecost/disposalconsideration |
| --Cash |
| --Fairvalueofnon-cashassets |
Totalofpurchasecost/disposalconsideration
| Totalofpurchasecost/disposalconsideration |
| Less:Subsidiary’sshareofnetassetscalculatedintermsoftheproportionofacquired/disposedequity |
| Difference |
| Including:Adjustcapitalreserve |
| Adjustsurplusreserve |
| Adjustundistributedprofit |
Otherexplanation
3.Equityinjointventureandassociatedenterprise
(1)Importantjointventureorassociatedenterprise
| Jointventure/Associatedenterprise | Mainplaceofoperation | Registrationplace | Businessnature | Shareholdingratio | Accountingtreatmentoninvestmentinjointventureandassociatedenterprise | |
| Directly | Indirectly | |||||
| ZhuhaiHengxingFeedIndustrialCo.,Ltd. | Zhuhai | Zhuhai | Aquaticfeeandanimalfee | 40.00% | Equitymethod |
Descriptiononsituationwheretheshareholdingratioinjointventuresorassociatedenterprisesisdifferentfromtheratioofvotingrights:
Descriptiononthebasisforholdinglessthan20%ofvotingrightsbuthavingsignificantinfluence,orholding20%ormoreofvotingrightsbuthavingnosignificantinfluence.
(2)Mainfinancialinformationofimportantjointventure
InRMB
| Endingbalance/Currentperiod | Openingbalance/Lastperiod |
Currentassets
| Currentassets |
| Including:cashandcashequivalents |
| Non-currentassets |
| Totalassets |
| Currentliabilities |
| Non-currentliabilities |
| Totalliabilities |
| Minorityinterests |
| Shareholders’equityattributabletoparentcompany |
| Shareofnetassetscalculatedintermsofshareholdingratio |
| Adjustmentitems |
| --Goodwill |
| --Unrealizedprofitofinternaltrading |
| --Other |
| Bookvalueofequityinvestmentinjointventure |
| Fairvalueoftheequityinvestmentinjointventureswithpublicoffersconcerned |
| Operatingrevenue |
| Financialexpenses |
| Incometaxexpenses |
| Netprofit |
| Netprofitofdiscontinuingoperation |
| Othercomprehensiveincome |
| Totalcomprehensiveincome |
Dividendsreceivedfromjointventureintheperiod
Otherexplanation
(3)Mainfinancialinformationofimportantassociatedenterprises
InRMB
| Endingbalance/Currentperiod | Openingbalance/Lastperiod | |||
| ZhuhaiHengxingFeedIndustrialCo.,Ltd. | ShenliangIntelligentWulianEquityInvestmentFund(Shenzhen)PartnershipEnterprise(Limited) | ZhuhaiHengxingFeedIndustrialCo.,Ltd. | ShenliangIntelligentWulianEquityInvestmentFund(Shenzhen)PartnershipEnterprise(Limited) | |
| Currentassets | 178,447,054.01 | 206,533,219.54 | 20,506,045.15 | |
| Non-currentassets | 20,408,430.87 | 22,214,230.53 | 34,910,923.94 | |
| Totalassets | 198,855,484.88 | 228,747,450.07 | 55,416,969.09 | |
| Currentliabilities | 89,109,413.45 | 115,358,256.12 | 170,000.00 | |
| Non-currentliabilities | 28,373,574.24 | 29,663,266.41 | ||
| Totalliabilities | 117,482,987.69 | 145,021,522.53 | 170,000.00 | |
| Netasset | 81,372,497.19 | 83,725,927.54 | 55,246,969.09 | |
| Minorityinterests | ||||
| Equityattributabletoshareholderofparentcompany | 81,372,497.19 | 83,725,927.54 | 55,246,969.09 | |
| Shareofnetassetsmeasuredintermsofshareholding | 32,548,998.88 | 33,490,371.02 | 27,082,064.25 | |
| Adjustment | 175,441.24 | 162,764.46 | -174.47 | |
| --Goodwill | ||||
| --Unrealizedprofitofinternaltrading | ||||
| --Other | ||||
| Bookvalueofequityinvestmentinassociatedenterprise | 32,724,440.12 | 33,653,135.48 | 27,081,889.78 | |
| Fairvalueoftheequityinvestmentofassociatedenterprisewithpublicoffersconcerned | ||||
| Operatingrevenue | 316,639,653.00 | 501,688,075.92 | ||
| Netprofit | -3,241,833.61 | 8,657,035.43 | 754,712.78 | |
| Netprofitofdiscontinuingoperation | ||||
| Othercomprehensiveincome | ||||
| Totalcomprehensiveincome | -3,241,833.61 | 8,657,035.43 | 754,712.78 | |
Dividendsreceivedfromassociatedenterpriseintheyear
Otherexplanation
(4)Summaryoffinancialinformationofunimportantjointventureandassociatedenterprises
InRMB
DividendsreceivedfromassociatedenterpriseintheyearEndingbalance/CurrentPeriod
| Endingbalance/CurrentPeriod | Openingbalance/LastPeriod | |
| Jointventure: | ||
| Amountcalculatedintermsofshareholdingratio | ||
| Associatedenterprise: | ||
| Totalbookvalueofinvestment | 12,632,448.32 | 13,273,901.22 |
| Totalamountcalculatedintermsof |
| shareholdingratio | ||
| --Netprofit | -641,452.90 | -304,756.85 |
| --Totalcomprehensiveincome | -641,452.90 | -304,756.85 |
Otherexplanation
(5)MajorlimitationoncapitaltransferabilitytotheCompanyfromjointventureorassociatedenterprise
(6)Excesslossoccurredinjointventureorassociatedenterprise
InRMB
| Jointventure/Associatedenterprise | Accumulatedderecognizedlosses | DerecognizedlossesnotrecognizedinthePeriod(ornetprofitenjoyedinthePeriod) | Accumulatedderecognizedlossesatperiod-end |
Otherexplanation
(7)Unrecognizedcommitmentrelatedtojointventureinvestment
(8)Intangibleliabilitiesrelatedtojointventureorassociatedenterpriseinvestment
4.Majorjointoperation
| Name | Mainplaceofoperation | Registrationplace | Businessnature | Shareholdingratio/sharesenjoyed | |
| Directly | In-directly | ||||
Explanationonsituationwhereshareholdingratioorsharesenjoyedinjointoperationisdifferentfromvotingrightratioinjointoperation:
Explanationontheclassificationbasisofjointoperationincasetheentityofjointoperationistheseparateentity:
Otherexplanation
5.Equityinstructuredentitiesnotincludedinthescopeofconsolidatedfinancialstatements
Explanation:
6.OtherXI.Governmentgrant
1.Governmentgrantrecognizedatreportendingintermsofamountreceivable
□Applicable?NotapplicableReasonsfornotreceivingtheexpectedamountofgovernmentgrantsattheexpectedtimepoint
□Applicable?Notapplicable
2.Liabilitiesinvolvedwithgovernmentgrant
?Applicable□Notapplicable
InRMB
| Item | Openingbalance | Currentincreaseingovernmentgrant | Amountbookedintonon-businessincomeincurrentperiod | Amountcarriedforwardtootherincome | Otherchangesincurrentperiod | Endingbalance | Asset/incomerelated |
| Deferredincome | 82,819,873.24 | 4,057,114.25 | 7,673,371.50 | 79,203,615.99 | Assetrelated |
3.Governmentgrantbookedintocurrentgains/losses
?Applicable□Notapplicable
InRMB
| Accountingtitle | Currentperiod | Lastperiod |
| Otherrevenue | 10,243,944.62 | 14,663,529.88 |
Otherexplanation:
XII.Riskrelatedwithfinancialinstrument
1.VariousrisksarisingfromfinancialinstrumentsThecompany’smainfinancialinstrumentsincludemonetaryfunds,notesreceivable,accountsreceivable,otherreceivables,othercurrentassets,tradingfinancialassets,othernon-currentfinancialassets,accountspayable,otherpayables,short-termborrowings,non-currentliabilitiesduewithinoneyear,andleaseliabilities.Thedetailedinformationofvariousfinancialinstrumentshasbeendisclosedintherelevantnotes.Therisksassociatedwiththesefinancialinstruments,aswellastheriskmanagementpoliciesadoptedbythecompanytoreducetheserisks,aredescribedbelow.Themanagementofthecompanymanagesandmonitorstheseriskexposurestoensurethattheaforementionedrisksarecontrolledwithinalimitedrange.
(1)RiskmanagementobjectivesandpoliciesThemainriskscausedbythecompany’sfinancialinstrumentsarecreditrisk,liquidityrisk,andmarketrisk(includingexchangeraterisk,interestraterisk,andcommoditypricerisk).Thegoalofthecompany’sriskmanagementistostrikeanappropriatebalancebetweenriskandreturn,strivingtoreducetheadverseimpactoffinancialrisksonourfinancialperformance.Basedonthisriskmanagementobjective,thecompanyhasdevelopedariskmanagementpolicytoidentifyandanalyzetherisksweface,setappropriateacceptablelevelsofrisks,anddesigncorrespondinginternalcontrolprocedurestomonitorourrisklevel.Thecompanywillregularlyreviewtheseriskmanagementpoliciesandrelatedinternalcontrolsystemstoadapttomarketconditionsorchangesinourbusinessactivities.Theinternalauditdepartmentofthecompanyalsoregularlyorrandomlycheckswhethertheimplementationoftheinternalcontrolsystemcomplieswithriskmanagementpolicies.Theboardofdirectorsisresponsibleforplanningandestablishingthecompany’sriskmanagementstructure,formulatingthecompany’sriskmanagementpoliciesandrelatedguidelines,andsupervisingtheimplementationofriskmanagementmeasures.Thecompanyhasdevelopedriskmanagementpoliciestoidentifyandanalyzetherisksweface.Theseriskmanagementpoliciesclearlydefinespecificrisksandcovervariousaspectssuchasmarketrisk,creditrisk,andliquidityriskmanagement.Thecompanyregularlyevaluateschangesinthemarketenvironmentandourbusinessactivitiestodeterminewhethertoupdateourriskmanagementpoliciesandsystems.Theriskmanagementofthecompanyiscarriedoutbyrelevantdepartmentsinaccordancewiththepoliciesapprovedbytheboardofdirectors.Thesedepartmentsidentify,evaluate,andmitigaterelatedrisksthroughclosecooperationwithotherbusinessdepartmentsofthecompany.
thecompanydiversifiesinvestmentandbusinessportfolioappropriatelytodiversifyfinancialinstrumentrisks,andreducesrisksconcentratedinasingleindustry,specificregions,orspecificcounterpartiesbyformulatingcorrespondingriskmanagementpolicies.
1)CreditriskCreditriskreferstotheriskofafinanciallosscausedbythecounterparty’sfailuretofulfillitscontractualobligations.CreditrisksoftheCompanyarisesmainlyfrommonetaryfunds,notereceivable,accountreceivable,otherreceivable.Thecompany’sbankdepositsaremainlydepositedinstate-ownedbanksandotherlargeandmedium-sizedlistedbanks,andweanticipatethatthereisnosignificantcreditriskassociatedwithbankdeposits.Fornotesreceivable,accountsreceivable,andotherreceivables,thecompanyhasestablishedrelevantpoliciestocontrolcreditriskexposure.Thecompanyevaluatesthecreditqualificationsofcustomersbasedontheirfinancialstatus,creditrecords,andotherfactorssuchascurrentmarketconditions,andsetscorrespondingcreditperiods.Thecompanywillregularlymonitorcustomercreditrecords.Forcustomerswithpoorcreditrecords,wewillusewrittenreminders,shortenorcancelcreditperiods,etc.toensurethatouroverallcreditriskiswithinacontrollablerange.Thedebtorsofthecompany’saccountsreceivablearecustomersdistributedacrossdifferentindustriesandregions.thecompanycontinuouslyconductscreditassessmentsonthefinancialconditionofaccountsreceivableandpurchasescreditguaranteeinsurancewhenappropriate.Themaximumcreditriskexposurethatthecompanyisexposedtoisthecarryingamountofeachfinancialassetonthebalancesheet.thecompanyhasnotprovidedanyotherguaranteesthatmayexposethecompanytocreditrisk.Amongtheaccountsreceivableofthecompany,theaccountsreceivableofthetopfivecustomersaccountfor46.79%ofthetotalaccountsreceivableofthecompany(2023:37.35%);Amongtheotherreceivablesofthecompany,theotherreceivablesofthetopfivecompanieswithoutstandingamountsaccountfor45.75%ofthetotalotherreceivablesofthecompany(2023:41.44%).Onthebalancesheetdate,thebookvalueofthecompany’sdebtinvestmentsislistedasfollowsaccordingtotheitemsinthefinancialstatements:
2)LiquidityriskLiquidityriskreferstotheriskofashortageoffundsencounteredbythecompanywhenfulfillingitsobligationstosettlecashorotherfinancialassets.Whenmanagingliquidityrisk,thecompanymaintainscashandcashequivalentsthatthemanagementdeemssufficientandmonitorsthemtomeetthecompany’soperationalneedsandreducetheimpactofcashflowfluctuations.Themanagementofthecompanymonitorstheuseofbankloansandensurescompliancewithloanagreements.Simultaneouslyobtaincommitmentsfrommajorfinancialinstitutionstoprovidesufficientreservefundstomeetbothshort-termandlong-termfundingneeds.thecompanyraisesoperatingfundsthroughfundsgeneratedfrombusinessoperationsandbankloans.Attheendoftheperiod,theunusedbankloanamountofthecompanywas8,798,534,600.00yuan(asoftheendoflastyear:9,118,765,500.00yuan).Attheendofcurrentperiod,thefinancialliabilitiesandoff-balancesheetguaranteeitemsheldbythecompanywereanalyzedbasedonthematurityperiodofundiscountedremainingcontractcashflows(in10000yuan):
| Item | Currentendingbalance | |||
| Within1year | 1-3years | Over3years | Total | |
| Financialliabilities: | ||||
| Short-termborrowing | 148,460.51 | 148,460.51 | ||
| Item | Currentendingbalance | |||
| Within1year | 1-3years | Over3years | Total | |
| Accountspayable | 39,278.71 | 39,278.71 | ||
| Otheraccountspayable | 26,963.35 | 26,963.35 | ||
| Liabilitiesheldforsale | 4,292.74 | 4,292.74 | ||
| Non-currentliabilitiesmaturingwithinoneyear | 804.26 | 804.26 | ||
| Leaseliabilities | - | 4,838.35 | 2,970.10 | 7,808.45 |
| Totaloffinancialliabilitiesorcontingentliabilities | 219,799.57 | 4,838.35 | 2,970.10 | 227,608.02 |
Attheendoflastperiod,thefinancialliabilitiesandoff-balancesheetguaranteeitemsheldbythecompanywereanalyzedbasedonthematurityperiodofundiscountedremainingcontractcashflows(in10000yuan):
| Item | Lastendingbalance | |||
| Within1year | 1-3years | Over3years | Total | |
| Financialliabilities: | ||||
| Short-termborrowing | 122,346.24 | 122,346.24 | ||
| Accountspayable | 33,616.52 | 33,616.52 | ||
| Otheraccountspayable | 27,768.76 | 27,768.76 | ||
| Liabilitiesheldforsale-financialliabilities | 5,789.03 | 5,789.03 | ||
| Non-currentliabilitiesmaturingwithinoneyear | 2,280.55 | 2,280.55 | ||
| Leaseliabilities | 3,692.57 | 81.93 | 3,774.50 | |
| Totaloffinancialliabilitiesorcontingentliabilities | 191,801.10 | 3,692.57 | 81.93 | 195,575.60 |
Theamountoffinancialliabilitiesdisclosedintheabovetablerepresentsundiscountedcontractcashflows,whichmaydifferfromthecarryingamountinthebalancesheet.Themaximumguaranteeamountofasignedguaranteecontractdoesnotrepresenttheamounttobepaid.
3)MarketriskThemarketriskoffinancialinstrumentsreferstotheriskoffluctuationsinthefairvalueorfuturecashflowsoffinancialinstrumentsduetomarketpricechanges,includinginterestraterisk,exchangeraterisk,andotherpricerisks.InterestrateriskInterestrateriskreferstotheriskoffluctuationsinthefairvalueorfuturecashflowsoffinancialinstrumentsduetochangesinmarketinterestrates.Interestrateriskcanarisefrombothconfirmedinterest-bearingfinancialinstrumentsandunconfirmedfinancialinstruments(suchascertainloancommitments).Financialliabilitieswithfloatingrateexposethecompanytocashflowinterestraterisk,whilefinancialliabilitieswithfixedrateexposethecompanytofairvalueinterestraterisk.Thecompanydeterminestherelativeratiooffixedandfloatingratecontractsbasedonthemarketenvironmentatthattime,andmaintainsanappropriatecombinationoffixedandfloatingrateinstrumentsthroughregularreviewandsupervision.Thecompanycloselymonitorstheimpactofinterestratechangesonourinterestraterisk.Thecompanycurrentlydoesnotadoptaninterestratehedgingpolicy.Butthemanagementisresponsibleformonitoringinterestrateriskandwillconsiderhedgingsignificantinterestrateriskswhennecessary.Anincreaseininterestrateswillincreasethecostofnewinterest-bearingdebtandtheinterest
expensesonfloatinginterest-bearingdebtthatthecompanyhasnotyetpaidoff,andwillhaveasignificantadverseimpactonthecompany'sfinancialperformance.Managementwillmaketimelyadjustmentsbasedonthelatestmarketconditions,whichmayinvolvearranginginterestrateswapstoreduceinterestraterisk.Theinterest-bearingfinancialinstrumentsheldbythecompanyareasfollows(unit:10000yuan):
| Item | Currentamount | Lastamount |
| Financialinstrumentwithfixedrate | ||
| Financialliability | 148,460.51 | 124,683.95 |
| Including:short-termborrowing | 148,460.51 | 122,346.26 |
| Assetsheldforsale-short-termborrowing | - | 2,337.69 |
| Total | 148,460.51 | 124,683.95 |
(4)ExchangerateriskExchangerateriskreferstotheriskoffluctuationsinthefairvalueorfuturecashflowsoffinancialinstrumentsduetochangesinforeignexchangerates.Exchangerateriskmayarisefromfinancialinstrumentsdenominatedinforeigncurrenciesotherthantheaccountingbasecurrency.Theexchangerateriskmainlyliesintheimpactofforeignexchangeratefluctuationsonthecompany'sfinancialpositionandcashflows.InadditiontothesubsidiariesestablishedinHongKongholdingassetsdenominatedinHongKongdollarsasthesettlementcurrency,thecompanyhasonlyasmallamountofinvestmentbusinessintheHongKongmarket.Theproportionofthecompany’sforeigncurrency-denominatedassetsandliabilitiesintheoverallassetsandliabilitiesisnotsignificant.Therefore,thecompanybelievesthattheexchangerateriskitfacesisnotsignificant.Thecompanycloselymonitorstheimpactofexchangeratechangesonitsexchangeraterisk.Currently,thecompanyhasnottakenanymeasurestoavoidexchangeraterisks.However,themanagementisresponsibleformonitoringexchangeraterisksandwillconsiderhedgingsignificantexchangerateriskswhennecessary.Attheendoftheperiod,forthecompany'smonetaryfundsdenominatedinforeigncurrencies,assumingthattheRMBappreciatesordepreciatesby10%againstforeigncurrencies(mainlytheUSDandHKD)whileotherfactorsremainunchanged,itwillcauseanincreaseordecreaseofapproximatelyRMB716,700.00inboththeshareholders’equityandnetprofitofthecompany.
(2)CapitalmanagementThegoalofthecompany’scapitalmanagementpolicyistoensurethatwecancontinuetooperate,providereturnstoshareholders,andbenefitotherstakeholderswhilemaintainingtheoptimalcapitalstructuretoreducecapitalcosts.Inordertomaintainoradjustitscapitalstructure,thecompanymayadjustitsfinancingmethods,adjusttheamountofdividendspaidtoshareholders,returncapitaltoshareholders,issuenewsharesandotherequityinstruments,orsellassetstoreducedebt.Thecompanymonitorsitscapitalstructurebasedontheassetliabilityratio(totalliabilitiesdividedbytotalassets).Attheendofthecurrentperiod,thecompany’sassetliabilityratiowas36.21%(34.06%attheendofthelastperiod).
2.Hedge
(1)Riskmanagementforhedgebusiness
□Applicable?Notapplicable
(2)Thecompanyconductedeligiblehedgingbusinessandappliedhedgingaccounting
InRMB
| Item | Bookvaluerelatedtohedgeditemsandhedginginstruments | Adjustmentofaccumulatedfairvaluehedgingincludedintherecognizedbookvalueofhedgeditems | Sourcesofhedgeeffectivenessandhedgeineffectiveness | Impactofhedgeaccountingonthecompany’sfinancialstatements |
| Typeofhedgerisk | ||||
| Typeofhedge | ||||
Otherexplanation
(3)Thecompanycarriedouthedgingbusinessforriskmanagementandexpectedtoachieveriskmanagementgoalsbuthasnotappliedhedgeaccounting
□Applicable?Notapplicable
3.Financialassets
(1)Bytransfermanner?Applicable?Notapplicable
(2)Financialassetsderecognizedduetotransfer?Applicable?Notapplicable
(3)Financialassetswhicharetransferredandinvolvedcontinuously?Applicable?NotapplicableOtherexplanationXIII.Disclosureoffairvalue
1.Endingfairvalueoftheassetsandliabilitiesmeasuredatfairvalue
InRMB
| Item | Endingfairvalue | |||
| First-order | Second-order | Third-order | Total | |
| I.Sustainingmeasuredatfairvalue | -- | -- | -- | -- |
| Othernon-currentfinancialassets | 57,500.00 | 57,500.00 | ||
| II.Non-sustainingmeasuredatfairvalue | -- | -- | -- | -- |
2.Basisforrecognizingthemarketpriceofitemssustainingandnon-sustainingmeasuredatfairvalueonfirst-order
3.Valuationtechnique,qualitativeandquantitativeinformationonmajorparametersforitemssustainingandnon-sustainingmeasuredatfairvalueonsecond-order
4.Valuationtechnique,qualitativeandquantitativeinformationonmajorparametersforitemssustainingandnon-sustainingmeasuredatfairvalueonthird-order
| Content | Endingfairvalue | Valuationtechnology | Unobservableinputvalue |
| Equityinstrumentinvestment | |||
| Non-listedequityinvestment | 57,500.00 | Marketmethod | Investmentcost |
5.Adjustmentinformationandsensitivityanalysisofunobservableparametersforitemssustainingandnon-sustainingmeasuredatfairvalueonthird-order
6.Reasonsforconversionandpoliciesforconversiontimepointofitemssustainingmeasuredatfairvalueincasethereisconversionbetweenalllevels
7.ChangesofvaluationtechniqueinthePeriodandreasons
8.FinancialassetsandliabilitiesnotmeasuredatfairvalueThefinancialassetsandfinancialliabilitiesmeasuredatamortizationcostofthecompanymainlyinclude:
monetaryfunds,notesreceivable,accountsreceivable,otherreceivables,short-termborrowings,accountspayable,otherpayables,etc.Thebookvalueoffinancialassetsandfinancialliabilitiesnotmeasuredatfairvaluediffersverylittlefromtheirfairvalue.
9.Other
XIV.Relatedpartyandrelatedtransactions
1.Parentcompany
| Parentcompany | Registrationplace | Businessnature | Registeredcapital | RatioofshareholdingontheCompany | RatioofvotingrightontheCompany |
| ShenzhenAgriculturalPowerGroupCo.,Ltd. | Shenzhen | Fooddistributionplatformandsafetyinfrastructureconstruction,domestictrade,industrialinvestmentandoperation,etc | 5,000millionyuan | 63.79% | 72.02% |
ExplanationonparentcompanyoftheCompanyTheultimatecontrolleroftheCompanyisShenzhenMunicipalPeople’sGovernmentState-ownedAssetsSupervision&AdministrationCommissionOtherexplanation:
2.SubsidiariesoftheCompany
FormoredetailsofsubsidiariesoftheCompany,pleasereferto“NoteVII.1”.
3.JointventureandassociatedenterpriseoftheCompanyFormoredetailsofimportantjointventureandassociatedenterpriseoftheCompany,pleasereferto“NoteVII(4)”.OtherjointventureandassociatedenterprisethathaverelatedtransactionwiththeCompanyinthePeriodorthathavebalancewiththeCompanyarisingfromtransactioninlastperiodaredescribedasfollows:
| Jointventure/Associatedenterprise | Relationshipwiththeenterprise |
Otherexplanation
4.Otherrelatedparty
| Otherrelatedparty | Relationshipbetweenotherrelatedpartyandthecompany |
| ShenzhenAgriculturalProductsGroupCo.,Ltd | Holdingsubsidiaryofparentcompany |
| ShenzhenZhenchuSupplyChainCo.,Ltd. | Holdingsubsidiaryofparentcompany |
| GuangxiHigreenAgriculturalProductsInternationalLogisticsCo.,Ltd. | Holdingsubsidiaryofparentcompany |
| ShenzhenHigreenInternationalAgriculturalProductsLogisticManagementCo.,Ltd | Holdingsubsidiaryofparentcompany |
| ChengduAgriculturalProductsCenterWholesaleMarketCo.,Ltd. | Holdingsubsidiaryofparentcompany |
| HuizhouHigreenAgriculturalProductsInternationalLogisticsCo.,Ltd. | Holdingsubsidiaryofparentcompany |
| ShenzhenMedicalMaterialsCo.,Ltd. | Holdingsubsidiaryofparentcompany |
| ShenzhenShennongLandCo.,Ltd. | Holdingsubsidiaryofparentcompany |
| ShenzhenShennongKitchenCo.,Ltd | SubsidiaryoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
| ZhanjiangChangshan(Shenzhen)EcologicalAquacultureCo.,Ltd | SubsidiaryoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
| ZhanjiangHaitianAquaticFeedCo.,Ltd | SubsidiaryoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
| ShenzhenHigreenRealEstateCo.,Ltd | SubsidiaryoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
| ShenzhenSouthernAgriculturalProductsLogisticsCo.,Ltd | SubsidiaryoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
| ShenzhenAgriculturalProductsSmallLoanCo.,Ltd | SubsidiaryoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
| ShenzhenAgriculturalProductsE-commerceCo.,Ltd | SubsidiaryoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
| ZhanjiangHaitianAquaticFeedCo.,Ltd | SubsidiaryoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
| Directors,Managers,ChiefFinancialOfficers,andBoardSecretaries | Keyexecutives |
| YaoJicheng | Minorityshareholderofcontrollingsubsidiary |
| ZhangTiejun | SpouseofYaoJicheng,aminorityshareholderofacontrollingsubsidiary |
| WangZhikai | Legalrepresentativeandchairman |
| HuXianghai | DirectorandGM |
| ZhengXiangpeng | Director |
| LuYuhe | DirectorandCFO |
| ZhaoRubing | Independentdirector |
| BiWeimin | Independentdirector |
| LiuHaifeng | Independentdirector |
| ZhengShengqiao | Employeesupervisor |
| MaZenghai | Employeesupervisor |
| ChenXiaohua | DeputyGMandSecretaryoftheBoardofDirectors |
| ShenHua | DeputyGM |
| XiaoHui | DeputyGM |
| DuJianguo | DeputyGM |
| NiYue | Formerdirector |
| WangHuimin | FormerchairmanoftheSupervisoryBoard |
| DaiBin | FormerdeputyGM |
| MengXiaoxian | FormerdeputyGM |
Otherexplanation:
5.Relatedtransaction
(1)Goodspurchasing,laborserviceprovidingandreceiving
Goodspurchasing/laborservicereceiving
InRMB
| Relatedparty | Relatedtransactioncontent | CurrentPeriod | Approvedtransactionlimit | Whethermorethanthetransactionlimit(Y/N) | LastPeriod |
| ShenzhenShenyuanDataTech.Co.,Ltd | Informationsoftwaredevelopment | 8,670,750.00 | 8,670,750.00 | N | 16,241,326.17 |
| ShenzhenShennongKitchenCo.,Ltd | Procurementofgoods | 2,844,421.97 | 2,844,421.97 | 2,270,681.12 | |
| F.Q.T | 73,260.00 | 73,260.00 | |||
| Xi'anMoerAgriculturalProductsCo.,Ltd | 17,286.56 | 17,286.56 | |||
| ShenzhenShenliangColdTransportCo.,Ltd. | Warehousingservices/Transportationservices | N | 297,749.51 | ||
| ShenzhenMunicipalPeople’sGovernmentState-ownedAssetsSupervision&AdministrationCommission | Warehousingservice | 23,510,737.60 |
Goodssold/laborserviceproviding
InRMB
| Relatedparty | Contentofrelatedtransactioncontent | Currentperiod | Lastperiod |
| ShenzhenZhenchuSupplyChainCo.,Ltd. | Grainandoilsales,assetmanagement,teasales | 1,066,771.53 | 1,769,540.05 |
| HuizhouHigreenAgriculturalProductsInternationalLogisticsCo.,Ltd. | Productsales | 533,883.17 | 0.00 |
| ShenzhenZhenpinGroupCo.,Ltd | Productsales | 429,377.89 | |
| ShenzhenShennongKitchenCo.,Ltd | Grainandoilsales,teasales | 253,069.73 | 767,892.60 |
| ShenzhenGuangmingHigreenAgriculturalProductsIndustryDevelopmentCo.,Ltd | Productsales | 99,980.00 |
| ShenzhenShenliangColdTransportCo.,Ltd. | Grainsales,warehousingservices,teasales | 98,874.41 | 1,006,521.86 |
| ChengduAgriculturalProductsCenterWholesaleMarketCo.,Ltd. | Productsales | 75,823.00 | |
| ShenzhenHigreenAgriculturalProducts,FoodImportandExportTradeServiceCo.,Ltd | Productsales | 50,499.00 | |
| ShenzhenShennongKitchenCo.,Ltd | Productsales | 48,349.65 | |
| Xi'anMoerAgriculturalProductsCo.,Ltd | Productsales | 38,867.25 | |
| ShenzhenAgriculturalScienceandTechnologyInnovationGroupCo.,Ltd | Productsales | 35,815.00 | |
| ChangzhouShenbaoChacangE-businessCo.,Ltd. | Productsales | 28,301.89 | |
| GuangxiHigreenInternationalAgriculturalProductsLogisticManagementCo.,Ltd | Productsales | 25,911.50 | 16,481.42 |
| ShenzhenAgriculturalProductsGroupCo.,Ltd | Productsales | 25,560.85 | 26,782.29 |
| ShenzhenFoodMaterialsGroupCo.,Ltd | Productsales | 24,540.51 | 3,070,581.93 |
| ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | Productsalesandpropertymanagement | 16,322.90 | 20,754.69 |
| ShenzhenCabbageTechnologyCo.,Ltd | Productsales | 10,364.60 | |
| ShenzhenSouthernAgriculturalProductsLogisticsCo.,Ltd | Productsales | 2,591.15 |
ShenzhenAgriculturalProductsSmallLoanCo.,Ltd
| ShenzhenAgriculturalProductsSmallLoanCo.,Ltd | Productsales | 282.36 | |
| ZhanjiangChangshan(Shenzhen)EcologicalAquacultureCo.,Ltd | Propertymanagement | 90,650.80 | |
| ZhanjiangHaitianAquaticFeedCo.,Ltd | Propertymanagement | 33,934.65 | |
| ShenzhenShenyuanDataTech.Co.,Ltd. | Productsales | 42,503.14 | |
| ShenzhenHigreenInternationalAgriculturalProductsLogisticManagementCo.,Ltd. | Productsales | 12,361.06 |
Explanationongoodspurchasing,laborserviceprovidingandreceivingTherelatedsalesofthecompanyarepricedonthebasisofopenbiddingandfairmarketprices.Therelatedprocurementofthecompanyispricedonthebasisofopenbiddingandfairmarketprices.
(2)Relatedtrusteeshipmanagement/contract&entrustmanagement/outsourcingTrusteeshipmanagement/contract:
InRMB
| Client/Contractissuer | Trustee/Contractor | Typeoftrusteeshipmanagement/contractasset | Startdateoftrusteeshipmanagement/contract | Enddateoftrusteeshipmanagement/contract | Pricingbasisforearningsoftrusteeshipmanagement/contract | Earningsoftrusteeshipmanagement/contractrecognizedincurrentperiod |
Relatedtrusteeshipmanagement/contract:
Entrustedmanagement/outsourcing:
InRMB
| Client/contractissuer | Trustee/Contractor | Typeofentrusted/outsourcedassets | Startdateofentrusted/outsourced | Enddateofentrusted/outsourced | Pricingbasisofentrust/outsourcingexpense | Entrust/outsourcingexpenserecognizedincurrentperiod |
Relatedmanagement/outsourcing:
(3)Relatedlease
Thecompanyactsasthelessor:
InRMB
| Lessee | Assetstype | Leaseincomerecognizedincurrentperiod | Leaseincomerecognizedinlastperiod |
| ShenzhenShenyuanDataTechnologyCo.,ltd. | Leaseofhouses | 407,339.97 | 523,988.52 |
| ZhenpinMarketOperationTechnologyCo.,Ltd. | Leaseofhouses | 13,609.00 | 244,577.19 |
Thecompanyactsasthelessee:
InRMB
| Lessor | Assetstype | Simplifiedrentalfeesforshort-termleasesandlowvalueassetleases(ifapplicable) | Variableleasepaymentsnotincludedinthemeasurementofleaseliabilities(ifapplicable) | Rentpaid | Interestexpenseonleaseliabilitiesassumed | Increasedright-of-useassets | |||||
| Currentperiod | Lastperiod | Currentperiod | Lastperiod | Currentperiod | Lastperiod | Currentperiod | Lastperiod | Currentperiod | Lastperiod | ||
| ShenzhenHigreenInternationalAgriculturalProductsLogisticManagementCo.,Ltd | Leaseofhouses | 31,542.00 | 31,542.00 | 31,542.00 | 31,542.00 | ||||||
| ShenzhenAgriculturalPowerGroupCo.,Ltd. | Leaseofhouses | 105,600.00 | 0.00 | ||||||||
Explanationonrelatedlease
(4)Relatedguarantee
TheCompanyactsastheguarantor
InRMB
| Securedparty | Guaranteeamount | Guaranteestartdate | Guaranteeexpirydate | Whethertheguaranteehasbeenfulfilled |
TheCompanyactsasthesecuredparty
InRMB
| Guarantor | Guaranteeamount | Guaranteestartdate | Guaranteeexpirydate | Whethertheguaranteehasbeenfulfilled |
Explanationonrelatedguarantee:
Thecompanyhasnorelatedguarantee.
(5)Relatedparty’sborrowedfunds
InRMB
| Relatedparty | Borrowingamount | Startingdate | Maturitydate | Note |
| Borrowing | ||||
| Lending | ||||
(6)Assetstransferanddebtreorganizationofrelatedparty
InRMB
| Relatedparty | Contentofrelatedtransaction | Currentperiod | Lastperiod |
(7)Remunerationofkeyexecutives
InRMB
| Item | Currentperiod | Lastperiod |
| Remunerationofkeyexecutives | 9,899,300.00 | 10,507,400.00 |
(8)Otherrelatedtransaction
6.Accountsreceivablefrom/payabletorelatedparties
(1)Accountsreceivablefromrelatedparties
InRMB
| Item | Relatedparty | Endingbalance | Openingbalance | ||
| Bookbalance | Baddebtsreserve | Bookbalance | Baddebtsreserve | ||
| Accountreceivable | ShenzhenShennongKitchenCo.,Ltd | 128,634.65 | 1,286.35 | 272,089.00 | 2,720.89 |
| Accountreceivable | HunanHigreenSupplyChainCo.,Ltd | 104,884.00 | 1,048.84 | ||
| Accountreceivable | ShenzhenZhenchuSupplyChainCo.,Ltd. | 92,854.00 | 928.54 | ||
| Accountreceivable | ShenzhenHigreenAgriculturalProducts,FoodImportandExportTradeServiceCo.,Ltd | 46,769.40 | 467.69 | ||
| Accountreceivable | ShenzhenAgriculturalPowerGroupCo.,Ltd. | 58,028.00 | 580.28 | 15,884.00 | 158.84 |
| Accountreceivable | ShenzhenZhenpinGroupCo.,Ltd | 36,784.00 | 367.84 | ||
| Accountreceivable | GuangxiHigreenInternationalAgriculturalProductsLogisticManagementCo.,Ltd | 29,280.00 | 292.80 | ||
| Accountreceivable | TianjinHigreenAgriculturalProductsLogisticsCo.,Ltd | 23,424.00 | 234.24 | ||
| Accountreceivable | ShenzhenAgriculturalScienceandTechnologyInnovationGroupCo.,Ltd | 9,900.00 | 99.00 | ||
| Accountreceivable | ShenzhenAgriculturalProductsSmallLoanCo.,Ltd | 5,857.00 | 58.57 | ||
| Accountreceivable | ShenzhenShennongRevitalizationRuralIndustryDevelopmentCo.,Ltd | 1,212.60 | 12.13 | ||
| Accountreceivable | ShenzhenAgriculturalProductsGroupCo.,Ltd | 392.00 | 3.92 | 4,656.00 | 46.56 |
| Accountreceivable | HuizhouHigreenAgriculturalProductsInternationalLogisticsCo.,Ltd. | 204.00 | 2.04 | 23,220.00 | 232.20 |
| Accountreceivable | HuaijiCountyShennongModernAgricultureDevelopmentCo.,Ltd | 104.00 | 1.04 | ||
| Accountreceivable | ShenzhenZhenchuSupplyChainCo.,Ltd. | 437,388.10 | 4,420.95 | ||
| Accountreceivable | ShenzhenShenliangColdTransportCo.,Ltd. | 9,882.80 | 98.83 | ||
| Accountreceivable | ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | 1,123.20 | |||
| Otheraccountreceivable | ChangzhouShenbaoChacangE-businessCo.,Ltd. | 24,138,742.46 | 22,187,944.18 | 24,608,742.46 | 22,187,644.18 |
| Otheraccountreceivable | ShenzhenShichumingmenCateringManagementCo.,Ltd. | 1,908,202.67 | 1,908,202.67 | 1,908,202.67 | 1,908,202.67 |
| Otheraccountreceivable | ShenzhenZhenpinGroupCo.,Ltd | 1,718,711.71 | 17,187.12 | ||
| Otheraccountreceivable | ShenzhenShenyuanDataTech.Co.,Ltd | 248,742.14 | 506.29 | 466,800.00 | 4,668.00 |
| Otheraccountreceivable | ShenzhenHigreenInternationalAgriculturalProductsLogisticManagementCo.,Ltd | 50,000.00 | 50,000.00 | ||
| Otheraccountreceivable | ShenzhenAgriculturalPowerGroupCo.,Ltd. | 26,400.00 | 1,001,000.00 | ||
| Otheraccountreceivable | ZhenpinMarketOperationTechnologyCo.,Ltd. | 13,609.00 | |||
| Otheraccountreceivable | ZhanjiangChangshan(Shenzhen)EcologicalAquacultureCo.,Ltd | 5,520.00 | 5,520.00 | 5,520.00 | 5,520.00 |
| Otheraccountreceivable | ChangshaMawangduiAgriculturalProductsCo.,Ltd. | 5,000.00 | |||
| Otheraccountreceivable | ChengduAgriculturalProductsCenterWholesaleMarketCo.,Ltd. | 4,000.00 | |||
| Otheraccountreceivable | TianjinHigreenAgriculturalProductsLogisticsCo.,Ltd | 3,000.00 | |||
| Otheraccountreceivable | YaoJicheng | 463,085.35 | 1,702.29 | ||
| Otheraccountreceivable | ShenzhenShenliangColdTransportCo.,Ltd. | 10,000.00 | |||
| Otheraccountreceivable | ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | 2,000.00 |
(2)Accountspayabletorelatedparties
InRMB
| Item | Relatedparty | Endingbookbalance | Openingbookbalance |
| Accountpayable | ShenzhenShenyuanDataTech.Co.,Ltd | 16,350.00 | 87,671.67 |
| Accountpayable | ShenzhenShennongRevitalizationRuralIndustryDevelopmentCo.,Ltd | 40,880.51 | |
| Accountpayable | ShenzhenHigreenAgriculturalProducts,FoodImportandExportTradeServiceCo.,Ltd | 31,680.00 | |
| Accountpayable | HuaijiCountyShennongModernAgricultureDevelopmentCo.,Ltd | 24,804.00 | |
| Accountpayable | HunanHigreenSupplyChainCo.,Ltd | 2,545.20 | |
| Account | Xi'anMoerAgriculturalProductsCo.,Ltd | 9,444.00 |
| payable | |||
| Accountpayable | NingxiaHigreenInternationalAgriculturalProductsLogisticManagementCo.,Ltd | 967.00 | |
| Accountpayable | ShenzhenMunicipalPeople’sGovernmentState-ownedAssetsSupervision&AdministrationCommission | 23,263,563.60 | 23,263,563.60 |
| Otheraccountpayable | ShenzhenShennongKitchenCo.,Ltd | 296,063.14 | 275,000.00 |
| Otheraccountpayable | ShenzhenShenyuanDataTech.Co.,Ltd | 65,400.00 | 1,727,021.67 |
| Otheraccountpayable | ZhanjiangHaitianAquaticFeedCo.,Ltd | 20,000.00 | 20,000.00 |
| Otheraccountpayable | ShenzhenAgriculturalPowerGroupCo.,Ltd. | 146,162,941.72 | 146,162,941.72 |
| Otheraccountpayable | ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | 41,486.00 | |
| Otheraccountpayable | ZhanjiangChangshan(Shenzhen)EcologicalAquacultureCo.,Ltd | 8,069,454.17 |
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
Nil
XVI.Commitmentorcontingency
1.Importantcommitments
ImportantcommitmentsonbalancesheetdateAsofDecember31,2024,therearenocommitmentsthatthecompanyshoulddisclose
2.Contingency
(1)Contingencyonbalancesheetdate
(1)Contingentliabilitiesarisingfrompendinglitigationandarbitrationandtheirfinancialimpact
| SN | Plaintiff | Defendant | Cause | Court | Target(’0000yuan) | Progress |
| 1 | NanshanDistrictHousingandUrban-RuralDevelopmentBureau | SZCG | Contractdisputelawsuit | theFutianDistrictPeople’sCourtofShenzhen,GuangdongProvince | 389.88 | Pending |
| 2 | ZhonggangConstructionGroupCo.,Ltd(ZhonggangConstruction) | DongguanLogistics | Constructionengineeringcontractdisputelawsuit | GuangzhouMaritimeCourtofHaizhuDistrict,GuangzhouCity,GuangdongProvince | 2,873.74 | Pending |
| 3 | ZhongjiGuoliangTrade(Liaoning)Co.,Ltd(ZhongjiGuoliang) | HualianCompany,SZCG,SZCH | Disputesoversalescontracts | theFutianDistrictPeople’sCourtofShenzhen,GuangdongProvince | 297.31 | Pending |
| 4 | PengMiaosheng | InternationalFoodIndustrialPark,GuangdongYongshenConstructionEngineeringCo.,Ltd,XuJianqiang | Constructionengineeringcontractdisputelawsuit | TheFirstPeople’sCourtofDongguanCity,GuangdongProvince, | 453.50 | Pending |
①ContractdisputebetweenNanshanDistrictHousingandUrban-RuralDevelopmentBureauandShenzhenCerealsGroupInSeptember2022,theNanshanDistrictHousingandUrban-RuralDevelopmentBureauinitiatedlegalproceedingsagainstSZCG,seekinganorderforSZCGtofulfillitsobligationbyissuingavalidtax-inclusiveinvoiceintheamountof3,898,800.00yuan.InJanuary2024,theFutianDistrictPeople'sCourtofShenzhenissuedafirst-instancejudgment,requiringSZCGtoissuetheaforementionedtax-inclusiveinvoicewithintendaysfromtheeffectivedateofthejudgment.SZCGhasfiledanappeal,andthecaseisstillundertrial.
②DisputeconcerningtheconstructioncontractbetweenZhonggangConstructionandDongguanLogisticsInMay2024,ZhonggangConstructionfiledalawsuitseekingpaymentof28,737,400.00yuanfromDongguanLogistics,whichincludesprojectfunds,interest,andpenaltiesfordelay.InJuly2024,theGuangzhouMaritimeCourtrenderedafirst-instancejudgmentinfavorofZhonggangConstruction,orderingDongguanLogisticstopayRMB15,213,100inprojectfunds,plusinterest.BothpartieshavefiledappealswiththeGuangdongProvincialHighCourt,andthecaseispendingahearing.
③DisputeregardingthesalescontractbetweenZhongjiGuoliang,HualianGrain&Oil,SZCG,andShenliangHoldingsInJuly2023,ZhongjiGuolianginitiatedlegalproceedings,seekingtherefundof2,725,400.00yuanfromHualianCompany,inadditiontocompensationforoverduelossesamountingto247,700.00yuan,bringingthetotalto2,973,100.00yuan.InApril2024,
theFutianDistrictPeople’sCourtofShenzhenissuedajudgmentorderingHualianCompanytorefund2,011,300.00yuantoZhongjiGuoliang,alongwithinterest.BothZhongjiGuoliangandHualianCompanyhaveappealedthedecision.Thesecond-instancehearingwasheldonNovember2024,attheShenzhenMunicipalIntermediatePeople’sCourtinGuangdongProvince,andthejudgmentisstillpending.
④DisputeregardingtheconstructioncontractbetweenPengMiaosheng,InternationalFood,YongshengConstruction,andXuJianqiangInOctober2023,PengMiaoshengfiledalawsuitagainstXuJianqiang,YongshengConstruction,andtheDongguanInternationalFoodIndustryPark,seekingthepaymentof4,535,000.00yuan,whichincludes4,097,300.00yuanforconstructionlaborcostsand437,700.00yuanininterest.PengMiaoshengrequestedthatYongshengConstructionbejointlyliableforthepaymentofthefullamountandthattheFoodIndustryParkbearresponsibilityforpayingtheoutstandingprojectfundsof4,097,300.00yuan,includinginterest.TheFoodIndustryParkhasarguedthatthedisputeisunrelatedtoitsresponsibilities.Thecaseiscurrentlyunderjudicialreview.
(2)OthercontingenciesAsofDecember31,2024,therearenoothercontingenciesthatthecompanyshoulddisclose.
(2)IftheCompanyhasnoimportantcontingencyneedtodisclosed,explainreasons
TheCompanyhasnoimportantcontingencythatneedtodisclose.
3.Other
XVII.Eventsafterbalancesheetdate
1.Importantnon-adjustmentmatters
InRMB
| Item | Content | Impactonfinancialstatusandoperationresults | Reasonsoffailingtoestimatetheimpact |
2.Profitdistribution
3.Salesreturn
4.Othereventsafterbalancesheetdate
OnDecember30,2024,duetotheconstructionneedsofinfrastructuresupportingfacilitiesprojectsinHuichengDistrict,HuizhouCity,HuizhouShenbaosignedtheCompensationAgreementfortheRecoveryofState-ownedLandUseRightswiththeNaturalResourcesBureauofHuichengDistrict,HuizhouCity.Thelatteragreedtorecoverthestate-ownedlanduserightsof6piecesoflandtotaling126,531squaremetersownedbyHuizhouShenbaoinDongyaVillage,RuhuTown,HuichengDistrict;theNaturalResourcesBureauofHuichengDistrict,HuizhouCityshallpaythetotallandcompensationof77,590,200yuaninalumpsumtoHuizhouShenbao'saccountbeforeJanuary21,2025.OnJanuary7,2024,HuizhouShenbaoreceivedtheabove-mentionedlanduserightcompensationfromtheNaturalResourcesBureauofHuichengDistrict,HuizhouCity.Uptonow,theproceduresforcancelingthelandownershiparestillbeinghandled.
Exceptfortheabovematters,asofApril29,2025,theCompanyhasnootherpost-balancesheeteventsthatshouldbedisclosed.
XVIII.Otherimportantevents
1.Previousaccountingerrorscorrection
(1)Retrospectiverestatement
InRMB
| Contentofaccountingerrorcorrection | Procedures | Itemsimpactduringeverycomparativeperiod | 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)Byaging
InRMB
| Aging | Endingbookbalance | Beginningbookbalance |
| Within1year(inclusive) | 116,870,897.62 | 65,714,145.99 |
| 1-2years | 73,272.00 | |
| Over3years | 37,305.68 | 37,305.68 |
| Over5years | 37,305.68 | 37,305.68 |
| Total | 116,981,475.30 | 65,751,451.67 |
(2)Accruedbaddebtsreserve
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookvalue | Baddebtsreserve | Bookvalue | Bookvalue | Baddebtsreserve | Bookvalue | |||||
| Amount | Ratio | Amount | Accruedratio | Amount | Ratio | Amount | Accruedratio | |||
| Accountreceivablewithbaddebtsreserveaccrualonasinglebasis | 28,453.08 | 0.02% | 28,453.08 | 100.00% | 0.00 | 28,453.08 | 0.04% | 28,453.08 | 100.00% | 0.00 |
| Including: | ||||||||||
| Accountreceivablewithbaddebtsreserveaccrualonportfolio | 116,953,022.22 | 99.98% | 14,409.28 | 0.01% | 116,938,612.94 | 65,722,998.59 | 99.96% | 8,442.65 | 0.01% | 65,714,555.94 |
| Including: | ||||||||||
| Portfolioofsalesreceivable | 82,124.60 | 0.07% | 14,409.28 | 17.55% | 67,715.32 | 144,909.60 | 0.22% | 8,442.65 | 5.83% | 136,466.95 |
| Object-specificportfolio | 116,870,897.62 | 99.91% | 0.00 | 0.00% | 116,870,897.62 | 65,578,088.99 | 99.74% | 0.00 | 0.00% | 65,578,088.99 |
| Total | 116,981,475.30 | 100.00% | 42,862.36 | 0.04% | 116,938,612.94 | 65,751,451.67 | 100.00% | 36,895.73 | 0.06% | 65,714,555.94 |
Accrualofbaddebtsreserveonsingleitem:1
InRMB
| Name | Openingbalance | Endingbalance | ||||
| Bookbalance | Baddebtsreserve | Bookbalance | Baddebtsreserve | Accrualratio | Accrualreason | |
| Accrualofbaddebtsreserveonsingleitem | 28,453.08 | 28,453.08 | 28,453.08 | 28,453.08 | 100.00% | Reasonablyprovisionaccordingtoenterpriseaccountingstandards |
| Total | 28,453.08 | 28,453.08 | 28,453.08 | 28,453.08 | ||
Makebaddebtsreserveintermsofportfolio:1
InRMB
| Name | Endingbalance | ||
| Bookbalance | Baddebtsreserve | Accrualratio | |
| Portfolioofsalesreceivable | 82,124.60 | 14,409.28 | 17.55% |
| Object-specificportfolio | 116,870,897.62 | 0.00 | 0.00% |
| Total | 116,953,022.22 | 14,409.28 | |
Explanationonthebasistodeterminesuchportfolio:
Ifthebaddebtsreserveofaccountreceivableismadeinaccordancewiththegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
(3)Baddebtsreserveaccrued,collectedorreversal
Baddebtsreserveaccruedintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Written-off | Other | |||
| Baddebtsreserveofaccountreceivable | 36,895.73 | 6,350.24 | 383.61 | 42,862.36 | ||
| Total | 36,895.73 | 6,350.24 | 383.61 | 42,862.36 | ||
Importantbaddebtsreservecollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
(4)Accountreceivablechargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajoraccountreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationonaccountreceivablechargedoff:
(5)Topfivereceivablesandcontractassetsatendingbalancebyarrearsparty
InRMB
| Enterprise | Endingbalanceofaccountreceivable | Endingbalanceofcontractassets | Endingbalanceofaccountreceivableandcontractassets | Ratiointotalendingbalanceofaccountreceivablesandcontractassets | Endingbalanceofbaddebtreservesforaccountreceivableandimpairmentprovisionofcontractassets |
2.Otheraccountreceivable
InRMB
| Item | Endingbalance | Openingbalance |
| Otheraccountreceivable | 2,123,872,937.65 | 1,624,337,855.63 |
| Total | 2,123,872,937.65 | 1,624,337,855.63 |
(1)Interestreceivable
1)Bycategory
InRMB
| Item | Endingbalance | Openingbalance |
2)Importantoverdueinterest
| Borrower | Endingbalance | Overduetime | Overduecauses | Whetherimpairmentoccursanditsjudgmentbasis |
Otherexplanation:
3)Accruedbaddebtsreserve
□Applicable?Notapplicable
4)Baddebtsreserveaccrued,collectedorreversal
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance |
Accrued
| Accrued | Collectedorreversal | Chargedoff | Other |
| Baddebtsreserve |
| Total |
Importantbaddebtsreservecollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
Otherexplanation:
(5)Interestreceivablechargedoffintheperiod
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 | Openingbalance |
2)Importantdividendreceivablewithagingoveroneyear
InRMB
| Item(orinvestee) | Endingbalance | Accountaging | Reasonsfornotcollection | Whetherimpairmentoccursanditsjudgmentbasis |
3)Accruedbaddebtsreserve
□Applicable?Notapplicable
4)Baddebtsreserveaccrued,collectedorreversalBaddebtsreserveaccruedintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Chargedoff | Other | |||
Importantbaddebtsreservecollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratio |
Otherexplanation:
5)Dividendreceivablechargedoffintheperiod
Unit:RMB
oforiginalbaddebtsreserveItem
| Item | Amountchargedoff |
Includingmajordividendreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationonthosechargedoff:
Otherexplanation:
(3)Otheraccountreceivable
1)Bynature
InRMB
| Nature | Endingbookbalance | Beginningbookbalance |
| Marginanddeposit | 5,210,066.16 | 1,000,000.00 |
| Otherintercoursefunds | 2,146,492,606.53 | 1,651,168,026.40 |
| Total | 2,151,702,672.69 | 1,652,168,026.40 |
2)Byaging
InRMB
| Aging | Endingbookbalance | Beginningbookbalance |
| Within1year(inclusive) | 770,755,999.84 | 314,162,982.64 |
| 1-2year | 162,272,693.15 | 1,312,629,466.00 |
| 2-3years | 1,193,798,401.94 | |
| Over3years | 24,875,577.76 | 25,375,577.76 |
| Over5years | 24,875,577.76 | 25,375,577.76 |
| Total | 2,151,702,672.69 | 1,652,168,026.40 |
3)Accruedbaddebtsreserve
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtsreserve | Bookvalue | Bookbalance | Baddebtsreserve | Bookvalue | |||||
| Amount | Ratio | Amount | Accrualratio | Amount | Ratio | Amount | Accrualratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
BaddebtsreserveaccrualonsinglebasisExplanationonthebasistodeterminesuchportfolio:
：
Baddebtsreserveismadeonthebasisofthegeneralmodelofexpectedcreditlosses:
InRMB
| Baddebtsreserve | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceonJan.1,2024 | 213,468.24 | 27,616,266.80 | 27,829,735.04 | |
| BalanceonJan.1,2024intheperiod | ||||
| BalanceonDec.31,2024 | 213,468.24 | 27,616,266.80 | 27,829,735.04 |
ClassificationbasisandbaddebtsreserveratioforeachstageChangesinbookbalancewithsignificantchangesinthecurrentperiod'sprovisionforlosses
□Applicable?Notapplicable
4)Baddebtsreserveaccrued,collectedorreversalBaddebtsreserveaccruedintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Chargedoff | Other | |||
| Baddebtsreserveofotheraccountreceivable | 27,830,170.77 | 435.73 | 27,829,735.04 | |||
| Total | 27,830,170.77 | 435.73 | 27,829,735.04 | |||
Importantbaddebtsreservecollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
5)Otheraccountreceivablechargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajorotheraccountreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationonotheraccountreceivablechargedoff:
6)Top5accountsreceivableatendingbalancebyarrearsparty
InRMB
| Enterprise | Nature | Endingbalance | Aging | Proportionintotalotherreceivablesatendingbalance(%) | Endingbalanceofbaddebtreserve |
7)Thosebookedintootheraccountsreceivablesduetocentralizedfundmanagement
InRMBOtherexplanation:
3.Long-termequityinvestment
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Investmentinsubsidiary | 4,036,688,641.37 | 5,500,000.00 | 4,031,188,641.37 | 4,032,344,425.09 | 5,500,000.00 | 4,026,844,425.09 |
| Total | 4,036,688,641.37 | 5,500,000.00 | 4,031,188,641.37 | 4,032,344,425.09 | 5,500,000.00 | 4,026,844,425.09 |
(1)Investmentinsubsidiaries
InRMB
| Investee | Openingbalance(bookvalue) | Beginningbalanceofimpairmentprovision | Currentchanges(+/-) | Endingbalance(bookvalue) | Endingbalanceofimpairmentprovision | |||
| Additionalinvestment | Capitalreduction | Accrualofimpairmentprovision | Other | |||||
| SZGC | 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 | -5,500,000.00 | 0.00 | 0.00 | |||
| ShenzhenShenliangFoodCo.,Ltd. | 80,520,842.36 | 5,500,000.00 | 80,520,842.36 | 5,500,000.00 | ||||
| XingyeFood | 4,344,216.28 | 4,344,216.28 | ||||||
| Total | 4,026,844,425.09 | 5,500,000.00 | 4,344,216.28 | 0.00 | 4,031,188,641.37 | 5,500,000.00 | ||
(2)Investmentinassociatedenterprisesandjointventure
InRMB
| Investee | Openingbalance(bookvalue) | Openingbalanceofimpairmentprovision | Currentchanges(+/-) | Endingbalance(bookvalue) | Endingbalanceofimpairmentprovision | |||||||
| Additionalinvestment | Capitalreduction | Investmentgainsrecognizedunderequity | Othercomprehensiveincomeadjustment | Otherequitychange | Cashdividendorprofitannouncedtoissued | Accrualofimpairmentprovision | Other | |||||
| I.Jointventure | ||||||||||||
| II.Associatedenterprise | ||||||||||||
l
Therecoverableamountisdeterminedonthebasisofthenetamountafterdeductingdisposalexpensesfromfairvalue?Applicable?NotapplicableTherecoverableamountisdeterminedonthebasisofthepresentvalueofexpectedfuturecashflows
□Applicable?NotapplicableReasonsforsignificantdiscrepanciesbetweentheaforementionedinformationandtheinformationorexternalinformationusedinpreviousyears'impairmenttestingReasonsforsignificantdiscrepanciesbetweentheinformationusedinthecompany'spreviousannualimpairmenttestsandtheactualsituationofthecurrentyear
(3)Otherexplanation
4.Operatingrevenueandoperatingcost
InRMB
l
Item
| Item | Currentperiod | Lastperiod | ||
| Revenue | Cost | Revenue | Cost | |
| Mainbusiness | 169,747,663.69 | 2,337,079.04 | 156,272,744.29 | |
| Otherbusiness | 208,390.08 | 471,590.28 | 275,218.36 | 471,590.28 |
| Total | 169,956,053.77 | 2,808,669.32 | 156,547,962.65 | 471,590.28 |
Breakdowninformationofoperatingincomeandoperatingcosts:
InRMB
| Contractcategory | Branch1 | Branch2 | Total | |||||
| Revenue | Cost | Revenue | Cost | Revenue | Cost | Revenue | Cost | |
| Businesstype | ||||||||
| Including: | ||||||||
Classificationbybusinessarea
| Classificationbybusinessarea |
| Including: |
| 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:
Theamountofincomecorrespondingtoperformingobligationsthathavebeensignedattheendofthisreportingperiodbuthavenotyetbeenfulfilledorhavenotdonewithfulfillmentis0.00yuan,amongthem,0.00yuanofrevenueisexpectedtoberecognizedintheyearSignificantcontractchangesorsignificanttransactionpriceadjustments
| Item | Accountingtreatmentmethod | Impactonincome |
Otherexplanation:
5.Investmentincome
InRMB
| Item | CurrentPeriod | LastPeriod |
| Investmentincomeoflong-termequityinvestmentmeasuredwithcostmethod | 1,209,380,685.39 | 303,903,528.99 |
| Investmentincomefromthedisposaloflong-termequityinvestment | 1,567,130.20 | |
| Investmentincomeduringtheholdingperiodoftradablefinancialassets | 2,190,832.84 | 3,378,137.80 |
| Investmentincomefromthedisposaloftradablefinancialassets | 2,123,849.30 | |
| Total | 1,215,262,497.73 | 307,281,666.79 |
6.OthersXX.Supplementaryinformation
1.Currentnon-recurringgains/losses?Applicable□Notapplicable
InRMB
| Item | Amount | Note |
| Gains/lossesfromthedisposalofnon-currentasset | 5,160,259.92 | |
| Governmentalsubsidiesreckonedintocurrentgains/losses(exceptforthosewithnormaloperationbusinessconcerned,andconformtothenationalpolicies®ulationsandareenjoyedaccordingtocertainstandard,andhavingacontinuousimpactonthecompany’sgains/losses) | 10,243,944.62 | |
| Gains/lossesofassetsdelegationonothers’investmentormanagement | 4,518,517.76 | |
| Netcurrentgains/lossesfromthebusinesscombinationunderthesamecontrolintheperiodfromthebeginningoftheperiodtothedateofcombination | 92,048.86 | |
| Othernon-operatingincomeandexpenditureexceptfortheaforementioneditems | 147,191.48 | |
| Othergains/lossesthatmeetthedefinitionofnon-recurringgains/losses | 2,890,749.95 | |
| Less:impactonincometax | 5,545,407.55 | |
| Impactonminorityshareholders’equity(after-tax) | -3,125.80 | |
| Total | 17,510,430.84 | -- |
Othergains/lossesthatconformtothedefinitionofnon-recurringgains/losses:
□Applicable?NotapplicableTheCompanydoesnothaveothergains/lossesthatconformtothedefinitionofnon-recurringgains/losses.Informationonthedefinitionofnon-recurringgains/losseslistedintheQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---Non-recurringGains/LossesasRecurringGains/Losses
□Applicable?Notapplicable
2.ROEandearningspershare
| Profitsduringreportingperiod | WeightedaverageROE | Earningspershare | |
| Basicearningspershare(RMB/Share) | Dilutedearningspershare(RMB/Share) | ||
| NetprofitsattributabletocommonstockstockholdersoftheCompany | 6.67% | 0.2823 | 0.2823 |
| NetprofitsattributabletocommonstockstockholdersoftheCompanyafterdeductingnon-recurringgains/losses | 6.31% | 0.2671 | 0.2671 |
3.DifferenceoftheaccountingdataunderaccountingrulesinandoutofChina
(1)Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothIAS(InternationalAccountingStandards)andChineseGAAP(GenerallyAcceptedAccountingPrinciples)?Applicable□Notapplicable
InRMB
| Netprofit | Netasset | ||
| Currentamount | Lastamount | Endingbalance | Beginningbalance |
| UnderChineseGAPP | 325,309,578.52 | 347,739,109.06 | 4,919,674,142.82 | 4,828,491,503.39 |
| ItemsandamountadjustedunderIAS | ||||
| 1,067,000.00 | 1,067,000.00 | |||
| UnderIAS | 325,309,578.52 | 347,739,109.06 | 4,920,741,142.82 | 4,829,558,503.39 |
(2)Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothforeignaccountingrulesandChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable?Notapplicable
(3)ExplanationondatadifferencesundertheaccountingstandardsinandoutofChina;asforthedifferencesadjustmentauditedbyforeignauditinginstitute,listednameoftheinstitute
4.Other