深圳市深粮控股股份有限公司SHENZHENCEREALSHOLDINGSCO.,LTD.
ANNUALREPORT2023
【April2024】
SectionI.ImportantNotice,ContentsandInterpretationBoardofDirectors,theboardofsupervisors,alldirectors,supervisorsandseniorexecutivesofSHENZHENCEREALSHOLDINGSCO.,LTD.(hereinafterreferredtoastheCompany)herebyconfirmthattherearenoanyfictitiousstatements,misleadingstatements,orimportantomissionscarriedinthisreport,andshalltakeallresponsibilities,individualand/orjoint,forthereality,accuracyandcompletionofthewholecontents.PrincipaloftheCompanyWangZhikai,HeadofAccountingLuYuheandHeadofAccountingInstitution(AccountingSupervisor)HuangXidiherebyconfirmthattheFinancialReportofAnnualReport2023isauthentic,accurateandcomplete.AllDirectorshaveattendedtheBoardMeetingfordeliberationofthisReport.Concerningtheforward-lookingstatementswithfutureplanninginvolvedintheannualreport,theydonotconstituteasubstantialcommitmentforinvestors.SecuritiesTimes,ChinaSecuritiesJournal，shanghaiSecuritiesJournalandJuchaoWebsite(www.cninfo.com.cn)arethemediaappointedbytheCompanyforinformationdisclosure.AllinformationoftheCompanydisclosedintheabovementionedmediashouldprevail.Investorsareadvisedtoexercisecautionofinvestmentrisks.TheCompanyhasanalyzedtheriskfactorsthattheCompanymayexistanditscountermeasuresinthereport.Investorsareadvisedtopayattentiontoread“ProspectforfuturedevelopmentoftheCompany”inthereportofSectionIIIManagementDiscussionandAnalysis.ThisreporthasbeenpreparedinChineseandEnglishversionrespectively.Intheeventofdifferenceininterpretationbetweenthetwoversions,Chinesereportshallprevail.TheprofitdistributionplanthatwasdeliberatedandapprovedbytheBoardMeetingis:
basedontotalsharecapitalof1,152,535,254,distributedcashbonusof2.00yuan(taxinclusive)forevery10shares,0sharebonusissued(taxinclusive)andnotransferofcapitalreserveintosharecapital.
Content
SectionI.ImportantNotice,ContentsandInterpretation............................................................................................2
SectionIICompanyProfileandMainFinancialIndexes ...... 6
SectionIIIManagementDiscussionandAnalysis ...... 11
SectionIVCorporateGovernance ...... 29
SectionV.EnvironmentalandSocialResponsibility................................................................................................51
SectionVI.ImportantEvents.....................................................................................................................................53
SectionVII.ChangesinSharesandParticularsaboutShareholders.........................................................................82
SectionVIII.PreferredStock......................................................................................................................................89
SectionIX.CorporateBonds......................................................................................................................................90
SectionX.FinancialReport........................................................................................................................................91
DocumentsAvailableforReference
1.Textoffinancialstatementwithsignatureandsealsoflegalperson,personinchargeofaccountingworksandpersoninchargeofaccountinginstitution;
2.OriginalauditreportwithsealofaccountingfirmandsignatureandsealoftheCPA;
3.OriginalandofficialcopiesofalldocumentswhichhavebeendisclosedonSecuritiesTimes,ChinaSecuritiesJournalandJuchaoWebsite(www.cninfo.com.cn)inthereportingperiod;
4.Originalcopiesof2023AnnualReportwithsignatureofthelegalrepresentative.
Interpretation
| Items | Refersto | Contents |
| SZCH/ListedCompany/theCompany/ | Refersto | ShenzhenCerealsHoldingsCo.,Ltd. |
| Shenshenbao/ShenbaoCompany | Refersto | ShenzhenShenbaoIndustrialCo.,Ltd. |
| SZCG | Refersto | ShenzhenCerealsGroupCo.,Ltd |
| Doximi | Refersto | ShenzhenShenliangDoximiBusinessCo.,Ltd. |
| ShenzhenFlour,FlourCompany | Refersto | ShenzhenFlourCo.,Ltd |
| ShenliangQualityInspection | Refersto | ShenliangQualityInspectionCo.,Ltd. |
| DongguanLogistics | Refersto | DongguanShenliangLogisticsCo.,Ltd. |
| ShenbaoHuacheng | Refersto | ShenzhenShenbaoHuachengTechnologyCo.,Ltd. |
| HualianCompany | Refersto | ShenzhenHualianGrainandOilTradingCo.,Ltd. |
| ShenliangColdChain | Refersto | ShenzhenShenliangColdChainLogisticsCo.,Ltd. |
| ShenliangProperty | Refersto | ShenzhenShenliangPropertyDevelopmentCo.,Ltd. |
| SZCHBig,BigKitchen | Refersto | ShenzhenShenliangBigKitchenFoodSupplyChainCo.,Ltd |
| GrainandOilPurchaseandSalesBranch | Refersto | GrainandOilPurchaseandSalesBranchofShenzhenCerealsGroupCo.,Ltd |
| DongguanOil&Food | Refersto | DongguanShenliangOil&FoodTradeCo.,Ltd. |
| ShenliangColdTransport | Refersto | ShenzhenShenliangColdTransportCo.,Ltd. |
| ShenshenbaoInvestment | Refersto | ShenzhenShenshenbaoInvestmentCo.,Ltd |
| ShenzhenShenliangFood | Refersto | ShenzhenShenliangFoodCo.,Ltd. |
| Zhenpin | Refersto | ZhenpinMarketOperationTechnologyCo.,Ltd. |
| WuhanJiacheng | Refersto | WuhanJiachengBiotechnologyCo.,Ltd |
| ShenzhenAgriculturalPowerGroup/FoodMaterialGoup/FoodGroup/FudeCapital | Refersto | ShenzhenAgriculturalPowerGroupCo.,Ltd.,originallynamedShenzhenFoodMaterialsGroupCo.,Ltd,ShenzhenFoodGroupCo.,Ltd,andShenzhenFudeStateCapitalOperationCo.,Ltd.,isthecontrollingshareholderofthecompany |
| AgriculturalProducts | Refersto | ShenzhenAgriculturalProductsGroupCo.,Ltd |
| SIHC | Refersto | ShenzhenInvestmentHoldingsCo.,Ltd. |
| ShenzhenSASAC | Refersto | ShenzhenMunicipalPeople’sGovernmentState-ownedAssetsSupervision&AdministrationCommission |
| CSRC | Refersto | ChinaSecuritiesRegulationCommission |
| SSE | Refersto | ShenzhenStockExchange |
| GrantThorntonCPAs | Refersto | GrantThorntonCertifiedPublicAccountantLLP(SpecialGeneralPartnership) |
| ArticleofAssociation | Refersto | ArticleofAssociationofShenzhenCerealsHoldingsCo.,Ltd. |
| RMB/10thousandYuan | Refersto | CNY/tenthousandYuan |
SectionIICompanyProfileandMainFinancialIndexesI.Companyinformation
| Shortformforshare | SZCH,ShenliangB | Stockcode | 000019,200019 |
| Shortformofsharebeforechange(ifapplicable) | Shenshenbao,ShenbaoB | ||
| Listingstockexchange | ShenzhenStockExchange | ||
| ChinesenameoftheCompany | 深圳市深粮控股股份有限公司 | ||
| Abbr.ofChinesenameoftheCompany | 深粮控股 | ||
| EnglishnameoftheCompany(ifapplicable) | SHENZHENCEREALSHOLDINGSCO.,LTD | ||
| LegalRepresentative | WangZhikai | ||
| Registrationsadd. | 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,TowerB,CofBao’anSquare,No.1002SungangRoad,LuohuDistrict,Shenzhen;in2010theregisteredaddresschangedtoSouthhalfofthe20thfloor,TowerofZhuzilinEducationandTechnologyBuilding,FutianDistrict,Shenzhen;in2015registeredaddresschangedto8/F,TowerB,No.4Building,SoftwareIndustryBase,SouthDistrict,Science&TechnologyPark,XuefuRd.,YuehaiStreet,NanshanDistrict,Shenzhen | ||
| Officesadd. | 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 |
| Contactadd. | 13/F,TowerA,WorldTradePlaza,No.9FuhongRd.,FutianDistrict,Shenzhen | 13/F,TowerA,WorldTradePlaza,No.9FuhongRd.,FutianDistrict,Shenzhen |
| Tel. | 0755-83778690 | 0755-83778690 |
| Fax. | 0755-83778311 | 0755-83778311 |
| 000019@slkg1949.com | chenky@slkg1949.com,liumy@slkg1949.com |
III.Informationdisclosureandpreparationplace
| WebsiteoftheStockExchangewheretheannualreportoftheCompanyisdisclosed | SecuritiesTimes;ChinaSecuritiesJournal；shanghaiSecuritiesJournal |
| MediaandWebsitewheretheannualreportoftheCompanyisdisclosed | JuchaoWebsite:www.cninfo.com.cn |
| Preparationplaceforannualreport | OfficeoftheBoardofDirectors |
IV.RegistrationchangesoftheCompany
| Organizationcode | 91440300192180754J |
| Changesofmainbusinesssincelisting(ifapplicable) | OnFebruary18,2019,thecompanycompletedtheregistrationproceduresofchangesinindustryandcommerceforbusinessscopeandothermatters.Themainbusinesshasnewlyincreasedthemodernfoodsupplychainservicesasgrain&oiltrading,processing,storageandlogistics. |
| Previouschangesforcontrollingshareholders(ifapplicable) | OnSeptember10,1999,ShenzhenInvestmentManagementCo.,Ltd.enteredintothe“EquityTransferAgreementofShenzhenShenbaoIndustrialCo.,Ltd.”withAgriculturalProductsfor58,347,695sharesoftheCompany(35%intotalsharesoftheCompany)transfertoAgriculturalProductswithpriceofRMB1.95pershare.AgriculturalProductscomestothefirstmajorityshareholderoftheCompanyaftertransferandproceduresfortheaboveequitytransferhascompletedinJune2003.OnApril3,2018,ShenzhenInvestmentHoldingsCo.,Ltd.completedthetransferofallofits79,484,302sharesofAsharesinthecompanytoFudeCapital(changeditsnametoFoodMaterialsGrouplater).Afterthecompletionoftheequitytransfer,FoodMaterialsGroupdirectlyholds79,484,302sharesofAsharesinthecompany(accountingfor16%ofthecompany’soriginaltotalsharecapital)andcontrols19.09%sharesofthecompanythroughAgriculturalProductsindirectly,becomingthecontrollingshareholderofthecompany.In2018,thecompanyimplementedamajorassetrestructuringbyissuing669,184,735A-sharestopurchase100%equityofShenzhenGrainGroupheldbycontrollingshareholderFudeCapital.OnNovember12,2018,theabove-mentionedissuedshareswereregisteredandlisted,andthecontrollingshareholderFudeCapital(nowrenamedinto“ShenzhenAgriculturalPower”)directlyheld735,237,253A-sharesofthecompany(accountingfor63.79%ofthetotalsharecapitalofthecompany),andindirectlyheld8.23%ofthecompany'ssharesthroughAgriculturalProducts. |
V.Otherrelevantinformation
CPAengagedbytheCompany
| NameofCPA | GrantThorntonCertifiedPublicAccountantLLP(SpecialGeneralPartnership) |
| Officesadd.forCPA | 5thFloor,SaitePlaza,No.22JianguomenwaiStreet,ChaoyangDistrict,Beijing,China |
| SigningAccountants | GaoHong,WangZhongnian |
SponsorengagedbytheCompanyforperformingcontinuoussupervisiondutiesinreportingperiod
□Applicable?NotapplicableFinancialconsultantengagedbytheCompanyforperformingcontinuoussupervisiondutiesinreportingperiod
□Applicable?Notapplicable
VI.Mainaccountingdataandfinancialindexes
Whetherithasretroactiveadjustmentorre-statementonpreviousaccountingdataornot?Yes?No
InRMB
| 2023 | 2022 | Changesinthecurrentyearoverthepreviousyear(+/-) | 2021 | |||
| Beforeadjustment | Afteradjustment | Afteradjustment | Beforeadjustment | Afteradjustment | ||
| Operatingrevenue(RMB) | 6,190,005,356.82 | 8,312,723,058.19 | 8,312,723,058.19 | -25.54% | 10,139,563,710.11 | 10,139,563,710.11 |
| NetprofitattributabletoshareholdersofthelistedCompany(RMB) | 347,824,733.68 | 420,594,871.27 | 420,764,671.03 | -17.34% | 428,720,226.09 | 428,699,023.92 |
| Netprofitattributabletoshareholdersof | 328,171,024.17 | 402,423,745.44 | 402,593,545.20 | -18.49% | 377,558,306.28 | 377,537,104.11 |
ReasonsforchangesinaccountingpoliciesandcorrectionofaccountingerrorsTheMinistryofFinanceissuedInterpretationNo.16oftheAccountingStandardsforEnterprises(CK[2022]No.31)inNovember2022(hereinafterreferredtoas“InterpretationNo.16”).InterpretationNo.16stipulatesthat,forasingletransactionthatisnotabusinessmerger,doesnotaffectaccountingprofitsortaxableincome(ordeductiblelosses)atthetimeoftransaction,andresultsinequaltaxabletemporarydifferencesanddeductibletemporarydifferencesduetotheinitialrecognitionofassetsandliabilities,thecorrespondingdeferredincometaxliabilitiesanddeferredincometaxassetsshallberecognizedseparatelyatthetimeoftransactioninaccordancewithrelevantprovisionssuchasEnterpriseAccountingStandardNo.18-IncomeTax.Fortheabove-mentionedtransactionsthatoccurredbetweenthebeginningoftheearliestperiodforthefirstimplementationoftheaboveregulationsinfinancialstatementpresentationandthedateofimplementationofthisinterpretation,theenterpriseshalladjustthecumulativeimpacttothebeginningretainedearningsandotherrelatedfinancialstatementitemsintheearliestperiodforfinancialstatementpresentationinaccordancewiththeaboveregulations.TheaboveaccountingtreatmentregulationswillbeimplementedfromJanuary1,2023.Iftheleasingliabilitiesandrightofuseassetsrecognizedbythecompanyforleasingbusiness,aswellastheestimatedliabilitiesandcorrespondingassetsrelatedtoabandonmentobligations,resultintaxabletemporarydifferencesanddeductibletemporarydifferences,adjustmentsshallbemadeinaccordancewiththeprovisionsofInterpretationNo.16.TheimpactofimplementingtheaboveaccountingpoliciesontheconsolidatedbalancesheetasofDecember31,2023andtheconsolidatedincomestatementfortheyear2023isasfollows:
Theloweroneofnetprofitbeforeandafterdeductingthenon-recurringgains/lossesinthelastthreefiscalyearsisnegative,andtheauditreportoflastyearshowsthattheabilitytocontinueoperatingisuncertain
□Yes?NoTheloweroneofnetprofitbeforeandafterdeductingthenon-recurringgains/lossesisnegative
□Yes?No
| thelistedCompanyafterdeductingnon-recurringgainsandlosses(RMB) | ||||||
| Netcashflowarisingfromoperatingactivities(RMB) | 585,816,656.19 | 531,888,766.64 | 531,888,766.64 | 10.14% | 440,396,029.54 | 440,396,029.54 |
| Basicearningspershare(RMB/Share) | 0.3018 | 0.3649 | 0.3649 | -17.29% | 0.3720 | 0.3720 |
| Dilutedearningspershare(RMB/Share) | 0.3018 | 0.3649 | 0.3649 | -17.29% | 0.3720 | 0.3720 |
| WeightedaverageROE | 7.26% | 8.96% | 8.96% | -1.70% | 9.13% | 9.13% |
| Year-endof2023 | Year-endof2022 | Changesinthecurrentyearoverthepreviousyear(+/-) | Year-endof2021 | |||
| Beforeadjustment | Afteradjustment | Afteradjustment | Beforeadjustment | Afteradjustment | ||
| Totalassets(RMB) | 7,398,528,190.94 | 7,441,334,674.98 | 7,441,489,372.63 | -0.58% | 7,669,618,906.32 | 7,669,630,248.87 |
| NetassetsattributabletoshareholderoflistedCompany(RMB) | 4,824,452,103.84 | 4,762,973,461.81 | 4,763,122,059.40 | 1.29% | 4,630,292,102.34 | 4,630,270,900.17 |
VII.DifferenceoftheaccountingdataunderaccountingrulesinandoutofChina
1.Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothIAS(InternationalAccountingStandards)andChineseGAAP(GenerallyAcceptedAccountingPrinciples)
?Applicable?NotapplicableThecompanyhasnodifferenceofthenetprofitandnetassetsdisclosedinfinancialreport.
2.Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothforeignaccountingrulesandChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable?NotapplicableTheCompanyhasnoabovementionedconditionoccurredintheperiod
VIII.Mainfinancialindexdisclosedbyquarter
InRMB
| Q1 | Q2 | Q3 | Q4 | |
| Operatingrevenue | 1,338,942,951.54 | 1,493,053,850.28 | 1,647,407,257.06 | 1,710,601,297.94 |
| NetprofitattributabletoshareholdersofthelistedCompany | 105,444,874.99 | 62,704,893.32 | 106,071,822.03 | 73,603,143.34 |
| NetprofitattributabletoshareholdersofthelistedCompanyafterdeductingnon-recurringgainsandlosses | 102,828,146.08 | 56,275,807.17 | 101,920,371.35 | 67,146,699.57 |
| Netcashflowarisingfromoperatingactivities | -186,820,400.70 | 270,323,752.91 | 624,601,692.90 | -122,288,388.92 |
Aretheresignificantdifferencesbetweentheabove-mentionedfinancialindexoritstotalnumberandtherelevantfinancialindexdisclosedintheCompany’squarterlyreportandsemi-annualreport?
□Yes?No
IX.Itemsandamountsofnon-recurringgains/losses
?Applicable□Notapplicable
InRMB
| Item | 2023 | 2022 | 2021 | Note |
| Gains/lossesfromthedisposalofnon-currentasset(includingthewrite-offthataccruedforimpairmentofassets) | 2,394,378.42 | -3,470,850.06 | 29,351,180.57 | |
| Governmentalsubsidyreckonedintocurrentgains/losses(exceptforthosewithnormaloperationbusinessconcerned,andconformtothenationalpolicies®ulationsandareenjoyedaccordingtocertainstandard,andhavingacontinuousimpactonthecompany’sgains/losses) | 14,544,417.04 | 8,775,672.58 | 15,871,621.28 | |
| Exceptforeffectivehedgingbusinessrelatedtothenormaloperationofthecompany,gains/lossesarisingfromchangesinfairvalueoftradingfinancialassetsandtradingfinancialliabilitiesheldbynon-financialenterprises,aswellasinvestmentincomeobtainedfromdisposaloftradingfinancialassets,tradingfinancialliabilities,andavailableforsalefinancial | 182,701.67 | 18,546.91 | 299,292.76 |
| assets | ||||
| Gains/lossesofassetsdelegationonothers’investmentormanagement | 6,622,492.60 | 8,455,442.20 | 4,014,308.85 | |
| Reversalofprovisionofimpairmentofaccountsreceivablewhicharetreatedwithseparatedepreciationtest | 679,204.22 | 881,986.09 | 4,076,676.65 | |
| Othernon-operatingincomeandexpenditureexceptfortheaforementioneditems | 644,754.74 | 7,042,268.06 | 13,089,042.88 | |
| Otherprofitandlossitemsthatmeetthedefinitionofnon-recurringprofitandloss | 1,064,111.79 | |||
| Less:impactonincometax | 5,027,939.98 | 4,583,525.90 | 14,600,145.88 | |
| Impactonminorityshareholders’equity(after-tax) | 386,299.20 | 12,525.84 | 940,057.30 | |
| Total | 19,653,709.51 | 18,171,125.83 | 51,161,919.81 | -- |
Othergains/lossesitemsthatconformtothedefinitionofnon-recurringgains/losses:
□Applicable?NotapplicableTheCompanydoesnothaveothergains/lossesitemsthatconformtothedefinitionofnon-recurringgains/lossesInformationonthedefinitionofnon-recurringgains/lossesthatlistedintheQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---Non-recurringGains/LossesastheRecurringGains/Losses
□Applicable?NotapplicableTheCompanydoesnothaveanynon-recurringgains/losseslistedintheQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---Non-recurringGains/LossesastheRecurringGains/Losses.
SectionIIIManagementDiscussionandAnalysisI.IndustryoftheCompanyduringthereportingperiod(i)Basicinformationoftheindustry,developmentstage,cyclicalcharacteristics,andthecompany’spositionintheindustryIntheinternationalmarket,thepricesofmajorgrainvarietiesfellmonthbymonth,whilericepricesroseagainstthetrend.Since2023,thestatusofimbalancedfoodsupplyhascontinuedtoimprove,andtheglobaltightsupplyanddemandpatternofmajoragriculturalproductshasgraduallyeased,withpricesofmajorgrainvarietiesfalling.However,themainriceexportingcountry,India,reducedriceproductionduetoweatherandotherreasons,andhasimplementedrestrictionsonriceexports,leadingtoariseinglobalriceprices.Attheendof2023,thepricesofwheat,corn,andsoybeansontheChicagoBoardofTrade(CBOT)decreasedby
20.5%,30.6%,and14.9%year-on-year,respectively.ThepriceofricestartedtoriseinJuly2023andreacheditshighestlevelinrecentyearsbytheendoftheyear.Attheendof2023,thepricesofriceinThailand,Vietnam,andPakistanincreasedby38.2%,
42.4%,and32.2%year-on-year,respectively.AccordingtodatareleasedbytheFoodandAgricultureOrganizationoftheUnitedNations(FAO)inJanuary2024,thefoodpriceindexfor2023was124points,adecreaseof19.7points(13.7%)fromtheaverageofthepreviousyear.Amongthem,thegrainpriceindexwas130.9points,reducing23.8pointsor15.4%fromthepreviousyear.Thericepriceindexincreasedby21%comparedtothepreviousyear,reachinganew15yearhighsincetheglobalfinancialcrisisin2008.Inaddition,thevegetableoilpriceindexwas126.3points,asignificantdecreaseof61.5pointsor32.7%fromthepreviousyear,reachinganewlowinthreeyears.Inthedomesticmarket,therehasbeenanotherbumperharvestingrainproduction,withoverallpricesofgrainandoilfallingandimportsofgrainandoilincreasinginquantityanddecreasinginprice.Firstly,variousregionsanddepartmentscontinuedtoincreasetheirsupportforgrainproduction,effectivelyovercomingadversefactorssuchas“rottenrain”,severefloodsanddroughtsincertainareas,andachievinganewhistoricalhighingrainproductionthroughouttheyear.Secondly,domesticrawgrainandediblevegetableoilpricesfell.AccordingtomonitoringdatafromtheNationalGrainandOilInformationCenter,attheendof2023,thepricesofearlyindicariceandearlyrice(tertiary)inChinaincreasedby6.04%and6.51%year-on-year,respectively,whilethepricesofwheatandcorndecreasedby15.23%and10.08%year-on-year,thewholesalepricesofrapeseedoil,soybeanoil,palmoil,andsoybeanmealdecreasedby9.24%,5.04%,4.91%,and14.18%year-on-year,respectively.(Theabovecontentisfromthe“2023GrainandOilMarketReviewandFutureOutlook”releasedbytheGuangdongProvincialGrainandMaterialReserveBureau.)(ii)Thesignificantimpactofnewlyreleasedlaws,administrativeregulations,departmentalrules,andindustrypoliciesontheindustryInFebruary2023,theCentralCommitteeoftheCommunistPartyofChinaandtheStateCouncilissuedtheOpinionsoftheCentralCommitteeoftheCommunistPartyofChinaandtheStateCouncilontheKeyWorkofComprehensivelyPromotingRuralRevitalizationin2023(hereinafterreferredtoas“theOpinions”),whichisthe20
th
No.1centraldocumentguidingtheworkof“agriculture,ruralareasandfarmers”sincethenewcentury.TheOpiniondeployedthekeyworkofcomprehensivelypromotingruralrevitalizationin2023,andemphasizedtheprimarypositionoffoodsecurityandstableproductionandsupplyofimportantagriculturalproducts.Inthefieldofensuringnationalfoodsecurity,theNo.1centraldocumentoftheCentralGovernmentin2023continuedtogivetopprioritytograinproductionandthesupplyofimportantagriculturalproducts.Thedocumentclearlystatesthatitisnecessarytoensurethatthenationalgrainproductionremainsabove1.3trillionkilograms,andtomakeeveryefforttostabilizeandexpandtheproductionofcropssuchassoybeansandoilseeds.Inordertoachievethisgoal,thedocumentproposesaseriesofspecificmeasures,includingstrengtheningfarmlandprotectionandusecontrol,stabilizingandimprovingfoodproductioncapacity,andoptimizingagriculturalproductionstructureandregionallayout.
TheFoodSecurityLawofthePeople’sRepublicofChinawaspromulgatedin2023.Thislawclarifiesthenationalfoodsecuritystrategy,adherestotheprincipleofstoringgraininthelandandtechnology,improvesgrainproductioncapacity,andensuresbasicself-sufficiencyofgrainsandabsolutefoodsecurity.Besides,thelawalsostipulatestheresponsibilitysystemforfoodsecurity,strengthensmacroeconomicregulationoffood,optimizesthestructureandregionallayoutoffoodvarieties,andconstructsascientific,reasonable,safeandefficientfoodsupplyguaranteesystem.Inaddition,theintroductionofrelevantregulationssuchastheMeasuresfortheSupervisionofGrainQualityandSafetyaimstostrengthenthesupervisionofgrainqualityandsafety,protecttheenthusiasmofgrainproducers,andsafeguardthelegitimaterightsandinterestsofgrainoperatorsandconsumers.Insummary,thepolicydocumentsandlawsandregulationsonfoodissuedin2023reflectthecountry’shighattentiontofoodsecurityandagriculturalproduction.Suchseriesofspecificpoliciesandmeasuresarepurposedforensuringstabilityandgrowthoffoodproduction,andnationalfoodsecurity.
II.MainbusinessesoftheCompanyduringthereportingperiod
MainbusinessoftheCompanyincludesthewholesaleandretailbusiness,foodprocessingandmanufacturingbusiness,leasingandcommerceservicebusiness.Thewholesaleandretailbusinessaremainlyrice,wheat,riceinthehusk,corn,sorghum,cookingoilandothervarietiesofgrainandoilaswellasthesalesoffinetea,beverageandcondiment.Duringthereportingperiod,thecompanyovercamemanyadversefactorssuchasdeclineinmarketdemandandfluctuationofgrainprice,tookmultiplemeasurestoensuresupplyandstablesupply,andcontinuedtooptimizetheproducts,strengthenthebrandandexpandthemarket.Mainlysuppliedwheat,rice,corn,barley,sorghumandotherrawgraintocustomerssuchastheindustry'slargetraders,feedprocessingandflourprocessingenterprisesandsoon;mainlysoldrice,flour,cookingoil,high-qualitytea,beveragesandotherproductstodemandunitsandcommunityresidents.Foodprocessingandmanufacturingbusinessaremainlytheprocessingthetechnologyresearchinaspectofflour,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”etc.Cookingoilproductsincludebrandssuchas“ShenliangFuxi”,“ShenliangJinxi”and“Youtian”etc.Teabrandsmainlyinclude“JuFangYong”tea;“Yichong”freshextract,“Jindiao”instantteapowderandotherteadeep-processedproducts,aswellas“Shenbao”chrysanthemumtea,lemontea,and“ChaMiXiangQi”andotherseriesofteadrinks.Condimentsaremainly“Sanjing”oystersauceandsauces.Severalbrandshaveformedproductseries,including“SZCHYushuiqing”rice,noodles,oil,andcoarsecerealsseries,“Jiaxi”rice&noodlesseries,“Jinchangman”noodles&oilseries,Black-facedSpoonbilltea,rice,oil,drinkingwater,non-staplefoodandcondimentseries,etc.,andthelaunchofYueqiuteawinecontinuestoenrichtheproductstructure.“GrainDuoxi”rice,oil,miscellaneousgrains,mushroom,nutseries,etc;Thelaunchof“ZhenYueQiu”teawinecontinuedtoenrichtheproductstructure.Theleasingandbusinessservicereferstoprovidingtheprofessionalimport&exporttrade,warehousing&storage,logistic&distribution,qualityinspection&informationtechnologyservices,propertyleasingandmanagement,businessoperationmanagementservicesforallkindsofclientsintheupstreamanddownstreamoftheindustrialchain,byusingtheadvantageofbrandreputation,operationservicecapacityandfacilitytechnologythataccumulatedinfieldofgrainandoilmarket.Dongguansmartgainlogisticscomplexisacomprehensivegraindistributionservicebodyintegratingfivemajorfunctions:grain&oilterminal,transitreserve,testing&distribution,processing&productionandmarkettrading;ShenliangQualityInspectionwasawardedas“GuangdongShenzhenNationalGrainQualityMonitoringStation”.ThesubsidiaryShenliangColdChainprovidescoldchainoffoodstorageanddistributionservicestothecustomers,andShenliangPropertyisaprofessionalassetsmanagementplatformenterprise.
III.CoreCompetitivenessAnalysisThecompanyenhancestheendogenouspowerbydeepeningreform,strengthensthe“extensive”developmentbyinnovationcooperation,andcontinuouslyupgradesandtransformsthegovernancepattern,developmentquality,andguaranteeability,andhasembarkedonapathofsustainableandhigh-qualitydevelopmentthroughself-innovation,andbecomeahighlycompetitive,innovativeandinfluentialbackbonegrainenterpriseinthedomesticgrainindustry.
(1)OperationmechanismThecoremanagementteamofthecompanyhasrichexperience,andhasastrongstrategicvisionandpragmaticspirit.CombinedwiththeactualdevelopmentoftheCompany,formulatedasetofeffectivemechanismstopromotethequalityandefficiencyofbusinessdevelopment.Thecompanyvigorouslypromotestheinnovationandtransformationofbusinessmodels,andactivelypromotesthetransitionfrom“trade-orientedenterprises”to“service-orientedenterprises”,andfrom“operationalmanagementandcontrol”to“strategicmanagementandcontrol”.Inbusinesscontrol,throughtheowninformationmanagementsystem,realizesaseamlesslinkbetweenthe“operation”and“planning,capital,qualityinspection,inventory,riskcontrolanddiscipline”,buildingastrict“six-in-one”systemofcontrollingtoeffectivelyreducetheoperationalriskswhilefullyparticipatinginthemarketcompetition,andachievingadeepintegrationof“ensuringgrainsecurity”and“promotingdevelopment”.Throughdeeplypromotesthestrategyof“talentstrengtheningtheenterprises”,continuouslyinnovativetalenttrainingmechanismtocreatesahigh-qualitytalentsupplychain,thecompanyhasestablishedanopentalentteamtomeetthelong-termdevelopmentofenterprisesandreserveintelligencefortheenterpriseupgradinganddevelopment.ThecompanyhasinnovatedandimplementedtheEVAperformanceappraisalmechanismandestablishedaresult-orientedincentiveandrestraintassessmentmechanismwhicheffectivelybuilttheperformancecultureandstimulatedtheviabilitywithintheenterprise.Thecompanyinsistsoncultivatingandadvocatingthecorporateculturewith“people-oriented,performancefirst,excellentquality,andharmony”asthecorevalues,combinesthepersonaldevelopmentgoalsofemployeeswiththecorporatevision,andenhancesthecohesivenessandcentripetalforceoftheenterprise.
(2)BusinessmodelThecompanydeeplyengagesinsegmentingthetargetmarket,providesdiversifiedproductsupplyservicesforcustomersindifferentareasoftheindustrychain,establishesamulti-levelproductsupplynetworkcoveringonlineandoffline,andrealizesthetransformationofproductsupplyto“remoteness,intelligentization,andself-service”.Intermsofgrainandoiltradingservices,thebulkcommoditytradingplatformwww.zglsjy.com.cncreatedbyitssubsidiaryHualianCompanyefficientlyintegratesbusinessflow,logistics,andinformationflow,improvescirculationefficiency,andprovidesspotlistings,one-waybidding,basisprice,financing,logistics,qualityinspection,informationandotherservicesforinternalbusinessunits,suppliersandcustomers.Intermsofe-commerce,SZCHDoximiactivelypromotesthedevelopmentofnewgrainretailformatssuchas“Internet+Grain”and“CommunityAutomaticGrainSalesStations”,andhasopenedchannelsone-commerceplatformssuchasTmallandJingdongMallsoastopromotethedeepintegrationofonlineandofflinee-commerceplatforms.Intermsofgroupmealsupply,itssubsidiarySZCHBeigehasestablishedaone-stopdistributionserviceplatformservinglargeendcustomers,providinghigh-qualityandsafesmartgroupmealfoodservicesforgroupuserssuchasenterprises,schools,andgovernmentinstitutions.Intermsofcomprehensiveteadrinkingservices,itssubsidiaryShenbaoInvestmenthaslaunchedamicro-complex“ChaMiXiangQi”withacombinationof“lightdrinks”,“lightfood”and“lightretail”functions.
(3)InformationtechnologyThecompanyattachesgreatimportancetothetransformationandupgradingoftraditionalindustrieswithmoderntechnologicalmeans,andactivelyintroducesnew-generationinformationtechnologiessuchastheInternetofThings,cloudcomputing,bigdata,andmobileInternetintograinmanagement,forminganinformationsystemthatcancovertheentireindustrialchainofthegrainindustry,andpromotingthe“Internet+Grain”industrydevelopment.Thecompany’sinformatizationconstructioncapabilityisattheleadinglevelinthegrainreservesindustry,takingtheleadinbuildingthewarehousemanagementof“standardization,
mechanization,informatization,andharmlessness”intheindustry,theself-developed“GrainLogisticsInformationSystem(SZCGGLS)”hasbuiltaframeworkfortheconstructionofgraininformatizationwork,innovatedthegrainmanagementmodel,ledthedevelopmentdirectionofthegrainindustry,andbecameabenchmarkforthenationalgrainindustry.Theprojectwasawardedthe“NationalIoTMajorApplicationDemonstrationProject”bytheNationalDevelopmentandReformCommissionandtheMinistryofFinance.Thecompanyhasundertakenanumberofnational-levelresearchprojects,theresultsofanumberofinformatizationprojectshavewonnational,provincialandmunicipalawards,anddozensofinformationsystemshavebeendevelopedandareoperatingnormally.
(4)R&DcapabilitiesThecompanyhasstrongresearchanddevelopmentcapabilitiesinthefieldoffoodandbeverage,andgathersleadingtechnologicaladvantagesandequipmentsystems.ThesubsidiaryShenbaoHuachengownstheJiangxiprovincialenterprisetechnologycenter,Shenzhenmunicipalresearchanddevelopmentcenter(technologycenter)andShenzhenplantdeepprocessingtechnologyengineeringlaboratoryandhaveobtainednationalhigh-techenterprisecertification.Andalsoownsanumberofpatentedtechnologiesforteapowder,teaconcentratedjuiceandplantextractionindependentlyresearchedanddeveloped,publisheddozensofscientificpapers,andwonanumberofawardssuchasScienceandTechnologyProgressAwardoftheMinistryofAgriculture,ShennongChineseAgriculturalScience&TechnologyAwardoftheChinesSocietyofAgriculture,Science&TechnologyAchievementAwardofChineseAcademyofAgriculturalSciences,ScienceandTechnologyAwardofChinaNationalLightIndustryCouncil,ZhejiangScienceandTechnologyAward,JiangxiScienceandTechnologyProgressAwardandShenzhenScience&TechnologyProgressAward,etc.,presidedoverorparticipatedinthepreparationofanationalstandards“GBT21733-2008TeaBeverages”andtwoindustrystandards,i.e.“TeaConcentratesforFoodIndustry-LightIndustryStandardQB-T4068-2010”and“InstantTeaforFoodIndustry-LightIndustryStandardQB-T4067-2010”.
(5)QualitycontrolThecompanyimplementsgrainandoilqualitystandardsthatarehigherthannationalstandards.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.ItssubsidiaryShenbaoHuachengCompanyhasestablishedaqualitycontrolsystemrecognizedbylargeinternationalfoodandbeveragecompanies,andhassuccessfullypassedthequalitycertificationofglobalsuppliersofCoca-Cola,Lipton,Kraft,Suntory,andNestlé.
(6)BrandeffectThecompanywasawardedthe“Top500ServiceEnterprisesinChina”,“China’sMostInfluentialGrain&OilGroup”,“ChinaTopTenGrainandOilGroups”,“ChinaTop100GrainandOilEnterprises”,“NationalLeadingEnterpriseSupportingGrainandOilIndustrialization”,“NationalQualityBenchmark”and“Top10FoodDigitalTechnologyApplications”.Ithasbeenselectedasoneofthe“FirstBatchofNationalEmergencyFoodSecurityEnterprises”,“Top100AgriculturalIndustrializedHeadEnterprisesinChina”,“Top10HeadEnterpriseintheGrainIndustry”and“TheNationalDemonstrationEnterpriseofAssuredGain&OilDemonstrationProject”,etc..Itisthe“RiceBag”trustedbythepublic.Strengthenbrandleadership,activelyexploreandcultivateexcellentpublic
brands,relyonqualitytowinrecognition,reputationandmarketshare,andformaseriesofhigh-qualitygrainandoilproductscenteredonChinaGoodGrainandOil,ShenzhenWell-knownBrands,andShenzhenProducts.Thecompanyownswell-knownbrandsandplatforms,suchas“ShenzhenFlour”,“SZCHDuoxi”,“SZCHYushuiqing”,“BigKitchen”,“ShenbaoTeabank”,“JuFangYong”,“ChaMiXiangQi”,“Sanjing”,“www.zglsjy.com.com”,and“doximi.com”,andgraduallybuildanindustrialsystemwithcomplete“rice”+“tea”elements.IV.Mainbusinessanalysis
1.Overview2023isapivotalyearbridgingthe“14
thFive-YearPlan”.Thecompanyfacedcomplexdomesticandinternationalsituations.Withastrategicgoalcenteredaround“buildingasmartgrainandoilfoodsupplychainqualityserviceprovider,”thecompanyadheredtothegeneraltoneofsteadyprogressandpursuedhigh-qualitydevelopment.Itfocusedonstrengtheningthesynergyofthegrain"production-purchase-storage-processing-sales"chain,solidlyadvancinginfrastructureconstruction,andimprovinginstitutionalmechanismstobettercoordinatedevelopmentandsecurity.Effortswereconcentratedonaddressingweaknesses,enhancingstrengths,stabilizingfundamentals,andleveragingadvantages,effectivelyraisingthelevelofconstructioninthegrainindustrychainandsupplychain.In2023,thecompanyachievedtotaloperatingincomeof6.19billionyuan,adecreaseof25.54%year-on-year;atotalprofitof421millionyuan,adecreaseof10.52%year-on-year;andanetprofitattributabletoshareholdersofthelistedcompanyof348millionyuan,adecreaseof17.34%year-on-year.
(1)MainbusinessdevelopmentIn2023,withtheongoingdownturninthegrainandoilmarketdemand,thecompanyfocusedonexploring“growthpoints”inprofitability.Itenhancedproductqualityandoperationalefficiency,conductedin-depthresearchonvariousvarieties,andmadeadvancejudgmentsonmarkettrendstoaccuratelygraspmarketdynamicsandpricechanges.Thecompanymadenewprogressinricesalesbusiness;effortsweremadetostrengthenthesalescapabilitiesofpackagedoilsandtheproductioncapacityofsmall-packagedflour,activelymatchingterminalmarkets;theproductmatrixcontinuedtobeenrichedwithongoingadditionssuchastheready-to-eatfoodof,BigKitchen,theinstantteaconcentrateandfreshextractofShenbaoHuacheng,theteagiftsofShenbaoInvestmentCompanyandtheoystersauceofShenzhenShenliangFood,continuouslymeetingtheneedsofcitizensfor“rice,flour,oil,tea,wine,andcondiments”.
(2)ProgressofkeyprojectsTheNortheastGrainSourceBasehasimproveditsriceproductionequipmenttoachieverefinedmanagementthroughoutthericeproductionprocess.IthasobtainedISO9001andISO22000certifications,comprehensivelyenhancingthelevelofqualityandsafetymanagementandincreasingmarketcompetitiveness.ThecompletionandacceptanceofNodesA2andA3projectsofDongguanLogisticshavebeenachieved.Amongthem,thePhaseIprojectoftheA2plothasbeenawardedthe“GuangdongProvinceHigh-QualityStructuralAwardforConstructionProjectsin2023”andrecognizedasa"DemonstrationConstructionSiteforSafeandCivilizedConstructionofHousingandMunicipalEngineeringinDongguanCity".
(3)OtherkeyworksFirstly,strengtheninnovationleadership.Guidedbythegoalofbuildingaworld-classenterprise,drovereformandinnovationbybenchmarkingagainstleadingpractices.Focusedonkeycoretechnologybreakthroughsandpromotingtheapplicationofinnovativeachievements.Activitiessuchasthe“SmartCreation,Technology-DrivenGrainProsperity”nationalscienceandtechnologyeventweekhavebeenorganized,alongwiththe“LeadingInnovation,GatheringMomentum”innovationworkshopandinnovation
achievementexhibition.Facilitatedtheapplicationprocessforinnovationsupportprojectsandtechnologicaltransformationsupportprojectsin2023;twoinventionpatentshavebeengrantednationalpatentauthorization,andthreenewsoftwarecopyrightshavebeenobtained;collaboratedwithHenanUniversityofTechnologyandrelatedunitstoconductedthe"KeyInformationTechnologyandApplicationofGrainReserveSecurity"project.Secondly,enhancedinternalmanagement.Revisedthecompany’sarticlesofassociationandsupportedrulesofprocedure,improvingthedecision-makingrulesanddecision-makingitemlistsunderthe"ThreeControlsandOneMajor"framework;Conductedacomprehensivereviewandcompilationofthecompany’sinstitutionaldocuments,strengtheningthe“abolition,amendment,establishment,andclarification”offinancial,capital,investment,propertyrights,engineering,internalcontrol,quality,safety,andpersonnelsystems,weavingadensenetworkofinstitutionalsystems.Tomeettheneedsofenterprisedevelopment,continuouslyimprovedtheEVAassessmentsystem,optimizedthesalarysystem,andthetotalsalarymechanism.Advancedtheorganicintegrationofcomprehensiveriskmanagementsystems,internalcontrolsystems,andcompliancemanagementsystems;builtaunifiedfundsupervisionplatform,fullyimplementedthedirectbankingfunction,andstrictlyenforcedthefundpaymentreviewmechanism.Thirdly,consolidatedsafetyproductionandfoodsafety.Strictlyimplementedthe“threecontrolsandthreemusts”ofworksafetyandthetransmissionmechanismof“sharedresponsibilitybetweenthePartyandgovernment,dualresponsibilityforoneposition,andaccountabilityforderelictionofduty”.Emphasizedindividualresponsibilityandpersonalduties,fortifiedourownworksafetyandoperationpositions,strengthenedawarenessofsafetyredlinesandbottom-linethinking.Regularlyconvenedworksafetyanalysismeetingstograspthecompany'ssafetymanagementstatusinatimelymannerandpromotedclosed-loopmanagementofhazardrectification.Thecompanyhasimplementedcomprehensivemanagementofcriticalcontrolpointsformultiplefoodbusinessunits,ledgermanagementforvariousfoodproductsandrelatedinformation,andconductedmultipleon-siteinspectionsandqualitymanagementandfoodsafetytrainingsessionstoensurequalityisparamountandtocomprehensivelystrengthenourfoodsafetydefenses.
2.Revenueandcost
(1)Componentofoperatingrevenue
InRMB
| 2023 | 2022 | Increase/decreasey-o-y(+/-) | |||
| Amount | Ratioinoperatingrevenue | Amount | Ratioinoperatingrevenue | ||
| Totaloperatingrevenue | 6,190,005,356.82 | 100% | 8,312,723,058.19 | 100% | -25.54% |
| Byindustries | |||||
| Wholesaleandretail | 4,466,378,701.20 | 72.15% | 6,478,281,826.57 | 77.93% | -31.06% |
| Leasingandbusinessservices | 967,047,827.95 | 15.62% | 998,700,581.84 | 12.01% | -3.17% |
| Manufacturing | 756,578,827.67 | 12.23% | 835,740,649.78 | 10.06% | -9.47% |
| Byproducts | |||||
| Grain&oiltradingandprocessing | 4,954,330,328.57 | 80.04% | 7,060,875,537.13 | 84.94% | -29.83% |
| Grain&oilstoragelogisticsandservices | 847,768,124.02 | 13.70% | 914,687,968.81 | 11.00% | -7.32% |
| Food,beverageandteaprocessing | 268,627,200.30 | 4.34% | 253,146,939.22 | 3.05% | 6.12% |
| Leasingandothers | 119,279,703.93 | 1.92% | 84,012,613.03 | 1.01% | 41.98% |
| Byregion | |||||
| Domesticmarket | 6,150,511,661.23 | 99.36% | 8,273,944,947.64 | 99.53% | -25.66% |
| Overseasmarket | 39,493,695.59 | 0.64% | 38,778,110.55 | 0.47% | 1.85% |
| Bysalemodel | |||||
| Directsale | 6,190,005,356.82 | 100.00% | 8,312,723,058.19 | 100.00% | -25.54% |
(2)Industries,products,regionsandsalesmodelthataccountformorethan10%oftheoperatingrevenueoroperatingprofitoftheCompany?Applicable□Notapplicable
InRMB
| Operatingrevenue | Operatingcost | Grossprofitratio | Increase/decreaseofoperatingrevenuey-o-y | Increase/decreaseofoperatingcosty-o-y | Increase/decreaseofgrossprofitratioy-o-y | |
| Byindustry | ||||||
| Wholesaleandretail | 4,466,378,701.20 | 4,238,501,198.60 | 5.10% | -31.06% | -30.29% | -1.05% |
| Byproducts | ||||||
| Grain&oiltradingandprocessing | 4,954,330,328.57 | 4,728,113,869.55 | 4.57% | -29.83% | -28.78% | -1.40% |
| Byregion | ||||||
| Domesticmarket | 6,150,511,661.23 | 5,198,929,779.81 | 15.47% | -25.66% | -27.20% | 1.79% |
| Bysalemodel | ||||||
| Directsale | 6,190,005,356.82 | 5,228,845,801.34 | 15.53% | -25.54% | -27.10% | 1.82% |
Intheeventthatthestatisticalcaliberofthecompany’smainbusinessdataisadjustedduringthereportingperiod,themainbusinessdataofthecompanyhasbeenadjustedaccordingtothecaliberattheendofthereportingperiodinthepastyear
□Applicable?Notapplicable
(3)Revenuefromphysicalsaleslargerthanrevenuefromlabors?Yes□No
| Industries | Item | Unit | 2023 | 2022 | Increase/decreasey-o-y(+/-) |
| Wholesaleandretail | Salesvolume | Ton | 1,577,925.32 | 2,187,056.83 | -27.85% |
| Output | |||||
| Storage | Ton | 1,073,790.95 | 1,160,079.24 | -7.44% |
Reasonsfory-o-yrelevantdatawithover30%changes
□Applicable?Notapplicable
(4)Performanceofsignificantsalescontracts,majorprocurementcontractenteredintobythecompanyuptothecurrentreportingperiod
□Applicable?Notapplicable
(5)Componentofoperationcost
Classificationofindustriesandproducts
InRMB
| Industries | Item | 2023 | 2022 | Increase/decreasey-o-y | ||
| Amount | Ratioin | Amount | Ratioin | |||
| operationcost | operationcost | (+/-) | ||||
| Wholesaleandretail | Rawmaterials | 4,238,501,198.60 | 81.06% | 6,080,180,348.76 | 84.77% | -30.29% |
ExplanationThemainbusinessincomeofthecompanyisfromgrainandoiltrade,andthecorrespondingcostexpenditureismainlytheprocurementcostofgrainandoiltrade.
(6)Whetherchangesinthescopeofconsolidationinreportingperiod
?Yes?No
(7)MaterialchangesoradjustmentforproductsorservicesoftheCompanyinreportingperiod
□Applicable?Notapplicable
(8)Majorsalesclientsandmainsuppliers
MajorsalesclientsoftheCompany
| Totaltopfiveclientsinsales(RMB) | 1,663,217,449.12 |
| Proportionintotalannualsalesvolumefortopfiveclients | 26.87% |
| Proportionintotalannualsalesvolumeforrelatedsalesamongtopfiveclients | 0.00% |
TopfiveclientsoftheCompany
| Serial | Name | Sales(RMB) | Proportionintotalannualsales |
| 1 | ClientI | 707,231,088.72 | 11.43% |
| 2 | ClientII | 283,130,674.51 | 4.57% |
| 3 | ClientIII | 237,153,834.55 | 3.83% |
| 4 | ClientIV | 229,845,418.87 | 3.71% |
| 5 | ClientV | 205,856,432.47 | 3.33% |
| Total | -- | 1,663,217,449.12 | 26.87% |
Otherexplanationonmainclients
□Applicable?NotapplicableMainsuppliersoftheCompany
| Totalpurchaseamountfromtopfivesuppliers(RMB) | 1,859,306,785.49 |
| Proportionintotalannualpurchaseamountfortopfivesuppliers | 38.34% |
| Proportionintotalannualpurchaseamountfromrelatedpurchaseamongtopfivesuppliers | 0.00% |
TopfivesuppliersoftheCompany
| Serial | Name | Sumofpurchase(RMB) | Proportionintotalannualsumofpurchase |
| 1 | SupplierI | 520,275,623.69 | 10.73% |
| 2 | SupplierII | 466,647,256.26 | 9.62% |
| 3 | SupplierIII | 372,093,441.50 | 7.67% |
| 4 | SupplierIV | 325,387,066.31 | 6.71% |
| 5 | SupplierV | 174,903,397.73 | 3.61% |
| Total | -- | 1,859,306,785.49 | 38.34% |
Otherexplanationonmainsuppliers
□Applicable?Notapplicable
3.Expenses
InRMB
| 2023 | 2022 | Increase/decreasey-o-y(+/-) | Noteofmajorchanges | |
| Salesexpenses | 176,429,835.98 | 175,760,616.70 | 0.38% | |
| Administrationexpenses | 212,979,557.64 | 280,557,640.12 | -24.09% | Mainlyduetothedecreaseinsalaryexpenses |
| Financialexpenses | 40,062,737.27 | 51,357,048.55 | -21.99% | Mainlyduetoadecreaseintheaverageannualborrowingbalanceandadecreaseininterestexpenseexpenses |
| R&Dexpenses | 20,045,364.68 | 18,549,053.04 | 8.07% |
4.R&Dinvestment
?Applicable□Notapplicable
| Projects | Purpose | Progress | Goalstobeachieved | ExpectedimpactonthefuturedevelopmentoftheCompany |
| ReserveGrainandOilDataManagementPlatform | Developgrainandoildatainterfacestocollectandconsolidatedatafrommultiplesubsystemswithinthecompany,andaggregatethemintorelevantinformationmanagementplatforms. | Completed | Meettheinformationmanagementrequirementsforreservegrainandoildata,enablingsynchronizeduploadingofrelevantdata. | Enhancethecompany'sdigitalmanagementcapabilitiesforreservegrain,improvingdataqualityandgovernancestandards,andstrengtheningsupervisionoverdatamanagement. |
| BinarySeparationOptimizationProject | OptimizethefunctionalityoftheEASsysteminaccordancewiththerequirementsof"separating"reserveoperationsandcommercialoperations. | Completed | EstablishrotationgrainandoilaccountswithintheEASsystemtofurthermeetthemanagementrequirementsforreservegrainandoil. | Achievedifferentiationandindependentmanagementofreservegrainandcommercialgrainbasedonfinancialaccountingentities. |
| OptimizationandAdjustmentProjectfor"Separating"In-houseManagementSystemandCloudSupplyChainSystem | Optimizethefunctionalityoftheself-developedsystemandcloudsupplychainsystemaccordingtothecompany’sgrainandoilbusinessmanagementrequirements. | Completed | Completeadjustmentstotheself-developedsystemandcloudsupplychainsystem,enablingintelligentupgradesandrenovationstowarehouses. | Ensuretheaccuracy,clarity,andsmoothoperationofsupplychaindata,financialdata,andreportingdata. |
| CommodityInventoryNatureDataRepairProject | Addressdataimperfectionwithinthesystem,particularlyhandlingpre-2022inbounddetaildata. | Completed | Rectifytheinventorynatureofoutbound,inbound,costadjustmentdocuments,andinventorybalancesheets. | Rectifyhistoricaldatatomeetsystemmanagementrequirementsandenhancetheoveralldataqualityofthecompany. |
| OfficeSuppliesManagementPlatform | Establishanofficesuppliesmanagementplatformtostandardizeanddigitizetheprocessofmaterials | Completed | IntegrateamaterialsmanagementmoduleintotheOAsystemtomeetofficerequirementsfor | Improveadministrativelogisticsmanagementandinternaloperationalefficiency,promotehigh-quality |
| management. | materialmanagement,enhancefull-processmanagementincludingmaterialrequisition,inventorymanagement,andmaterialprocurement,andinterfacewithOAapprovalresults. | developmentofthecompany,andrealizedigitalandinformationempowermenttoenhancethequalityandefficiencyofadministrativelogisticsmanagement. |
PersonnelofR&D
| 2023 | 2022 | Increase(+)/Decrease(-)by | |
| NumberofR&D(people) | 144 | 136 | 5.88% |
| RatioofnumberofR&D | 11.86% | 11.00% | 0.86% |
| Educationbackground | |||
| Undergraduate | 60 | 65 | -7.69% |
| Master | 33 | 29 | 13.79% |
Agecomposition
| Agecomposition | |||
| Under30 | 34 | 44 | -22.73% |
| 30~40 | 65 | 49 | 32.65% |
R&Dinvestment
| 2023 | 2022 | Increase(+)/Decrease(-) | |
| R&Dinvestment(RMB) | 54,614,733.25 | 58,336,915.06 | -6.38% |
| RatioofR&Dinvestmentinoperationrevenue | 0.88% | 0.70% | 0.18% |
| CapitalizationofR&Dinvestment(RMB) | 0.00 | 0.00 | 0.00% |
| RatioofcapitalizationofR&DinvestmentinR&Dinvestment | 0.00% | 0.00% | 0.00% |
DescribereasonsforsignificantchangesincomponentoftheR&Dpersonnelandrelatedimpact
□Applicable?NotapplicableDescribereasonsforsignificantchangesintheproportionoftotalR&Dinvestmentaccountingforoperationincomecomparedwiththatoflastyear
□Applicable?NotapplicableDescribereasonforthegreatchangeinR&Dinvestmentcapitalizationrateandrelevantrationality.
□Applicable?Notapplicable
5.Cashflow
InRMB
| Item | 2023 | 2022 | Increase(+)/decrease(-)y-o-y |
| Subtotalofcashinflowfromoperationactivity | 6,705,107,578.90 | 8,994,941,611.03 | -25.46% |
| Subtotalofcashoutflowfromoperationactivity | 6,119,290,922.71 | 8,463,052,844.39 | -27.69% |
| Netcashflowarisingfromoperatingactivities | 585,816,656.19 | 531,888,766.64 | 10.14% |
| Subtotalofcashinflowfrominvestmentactivity | 1,575,902,755.32 | 1,289,883,392.34 | 22.17% |
| Subtotalofcashoutflowfrom | 1,690,621,094.50 | 1,304,661,803.05 | 29.58% |
| investmentactivity | |||
| Netcashflowfrominvestmentactivity | -114,718,339.18 | -14,778,410.71 | |
| Subtotalofcashinflowfromfinancingactivity | 1,931,277,809.13 | 3,643,844,014.55 | -47.00% |
| Subtotalofcashoutflowfromfinancingactivity | 2,226,523,738.31 | 4,157,396,506.10 | -46.44% |
| Netcashflowarisingfromfinancingactivity | -295,245,929.18 | -513,552,491.55 | |
| Netincreasedamountofcashandcashequivalent | 179,294,017.16 | 3,725,389.06 | 4712.76% |
Describereasonsformajory-o-ychangesofrelevantdata?Applicable□Notapplicable
(1)Thecashinflowfromoperatingactivitiesinthisperioddecreasedby25.46%comparedtothesameperiodlastyear,mainlybecausethecompany’sgrainandoiltraderevenuedecreased,resultinginadecreaseincashinflow,astheoilandgrainmarketdemandreduced;
(2)Thecashoutflowfromoperatingactivitiesinthisperioddecreasedby27.69%comparedtothesameperiodlastyear,mainlybecausethecompany’sgrainandoiltraderevenuedecreased,andrelatedprocurementexpensesdecreased,resultinginadecreaseincashoutflow,astheoilandgrainmarketdemandreduced;
(3)Thecashinflowfrominvestmentactivitiesinthisperiodreducedby47.00%comparedtothesameperiodlastyear,mainlybecausethecompany’soperatingcashflowcontinuestoflowin,resultinginadecreaseintemporaryworkingcapitalloans;
(4)Thecashoutflowfrominvestmentactivitiesinthisperiodincreasedby46.44%comparedtothesameperiodlastyear,mainlybecausethetemporaryturnoverloansofthecompanydecreased,resultinginadecreaseinthecorrespondingrepaymentofloanexpenses.Theproportionofthedecreaseisbasicallyconsistentwiththecashinflowfromfinancingactivities;DescribereasonsformajordifferencebetweenthecashflowofoperationactivityinreportingperiodandnetprofitoftheCompany
□Applicable?Notapplicable
V.Analysisofnon-mainbusiness?Applicable□Notapplicable
InRMB
| Amount | Ratiointotalprofit | Descriptionofformation | Sustainableornot(Y/N)? | |
| Investmentincome | 9,954,884.45 | 2.36% | Mainlyfinancialmanagementincome | N |
| Gains/lossesoffairvaluevariation | 182,701.67 | 0.04% | N | |
| Assetimpairment | -104,336,237.13 | -24.76% | Mainlyduetoprovisionforinventorydepreciation | N |
| Non-operatingincome | 2,445,728.23 | 0.58% | N | |
| Non-operatingexpense | 1,800,973.49 | 0.43% | N |
VI.Analysisofassetsandliabilities
1.Majorchangesofassetscomponent
InRMB
| Year-endof2023 | Year-beginof2023 | Ratiochanges | Notesofmajorchanges | ||
| Amount | Ratioin | Amount | Ratioin | ||
| totalassets | totalassets | |||||
| Monetaryfund | 236,384,606.60 | 3.20% | 54,103,771.00 | 0.73% | 2.47% | |
| Accountreceivable | 179,828,493.98 | 2.43% | 236,829,100.95 | 3.18% | -0.75% | |
| Inventory | 3,458,443,989.04 | 46.75% | 3,599,041,970.52 | 48.36% | -1.61% | Mainlyduetoadecreaseininventoryofgrainandoil |
| Investmentrealestate | 263,597,031.89 | 3.56% | 217,137,461.76 | 2.92% | 0.64% | |
| Long-termequityinvestment | 74,008,926.48 | 1.00% | 70,676,534.63 | 0.95% | 0.05% | |
| Fixassets | 2,171,969,725.22 | 29.36% | 2,141,336,538.86 | 28.78% | 0.58% | Mainlyduetotheconversionofsomeengineeringprojectsintofixedassetsaftercompletionanduse |
| Constructioninprogress | 51,288,301.16 | 0.69% | 186,884,912.13 | 2.51% | -1.82% | Mainlyduetotheconversionofsomeengineeringprojectsintofixedassetsaftercompletionanduse |
| Right-of-useassets | 56,933,148.16 | 0.77% | 78,304,838.28 | 1.05% | -0.28% | |
| Short-termloans | 1,223,462,519.16 | 16.54% | 1,192,211,087.37 | 16.02% | 0.52% | |
| Contractliability | 86,566,253.73 | 1.17% | 110,177,908.96 | 1.48% | -0.31% | |
| Leaseliability | 37,744,951.74 | 0.51% | 60,436,879.66 | 0.81% | -0.30% |
Foreignassetsaccountforarelativelyhighproportion
□Applicable?Notapplicable
2.Assetsandliabilitiesmeasuredbyfairvalue?Applicable□Notapplicable
InRMB
| Item | Amountatthebeginningperiod | Changesoffairvaluegains/lossesinthisperiod | Accumulativechangesoffairvaluereckonedintoequity | Devaluationofwithdrawingintheperiod | Amountofpurchaseintheperiod | Amountofsaleintheperiod | Otherchanges | Amountintheendofperiod |
| Financialassets | ||||||||
| 1.Tradablefinancialassets(excludingderivativefinancialassets) | 46,676,652.91 | 45,554,305.06 | 1,122,347.85 | |||||
| 5.Othernon-currentfinancialassets | 57,500.00 | 57,500.00 | ||||||
| 6.Largefixeddeposit | 30,226,849.32 | 30,226,849.32 | ||||||
| Subtotaloffinancialassets | 46,734,152.91 | 30,226,849.32 | 45,554,305.06 | 31,406,697.17 | ||||
| Aforementionedtotal | 46,734,152.91 | 30,226,849.32 | 45,554,305.06 | 31,406,697.17 | ||||
| Financialliabilities | 288,486.18 | 288,486.18 | 0.00 | |||||
OtherchangeAretheremajorchangesonmeasurementattributesformainassetsoftheCompanyinreportingperiod?
□Yes?No
3.TheassetsrightsrestrictedtillendoftheperiodThedetailsofmonetaryfundsthatarerestrictedinuseduetomortgage,pledge,orfreezing,restrictedincentralizedmanagementandwithdrawaloffunds,andrestrictedinrepatriationoffundsplacedoverseasareasfollows:
| Item | Endingbalance | Endingbalanceoflastperiod |
| Guaranteedeposit | 1,800,000.00 | 1,000,000.00 |
| Letterofcreditdeposit | 691,708.31 | |
| Litigationrelatedfreezing | 2,973,129.00 | |
| Other | 8,301.74 | |
| Total | 5,464,837.31 | 1,008,301.74 |
VII.Investmentanalysis
1.Overallsituation?Applicable□Notapplicable
| Investmentinreportingperiod(RMB) | Investmentinthesameperiodoflastyear(RMB) | Changes(+/-) |
| 80,361,097.00 | 78,284,825.00 | 2.65% |
2.Themajorequityinvestmentobtainedinthereportingperiod
?Applicable□Notapplicable
3.Themajornon-equityinvestmentperformedinthereportingperiod?Applicable□Notapplicable
4.Financialassetsinvestment
(1)Securitiesinvestment?Applicable□Notapplicable
InRMB
| Varietyofsecurities | Codeofsecurities | Shortformofsecurities | Initialinvestmentcost | Accountingmeasurementmodel | Bookvalueatthebeginningoftheperiod | Changesinfairvalueofthecurrentprofit | Cumulativefairvaluechangesinequity | Currentpurchaseamount | Currentsalesamount | ProfitandlossintheReportingPeriod | Bookvalueattheendoftheperiod | Accountingsubject | CapitalSource |
| andloss | |||||||||||||
| Domesticandoverseasstock | 000017 | Zhonghua-A | 0.00 | Fairvaluemeasurements | 1,228,132.36 | -105,784.51 | 0.00 | 0.00 | 0.00 | -105,784.51 | 1,122,347.85 | Tradablefinancialassets | Debtrescheduledshares |
| Total | 0.00 | -- | 1,228,132.36 | -105,784.51 | 0.00 | 0.00 | 0.00 | -105,784.51 | 1,122,347.85 | -- | -- | ||
(2)Derivativeinvestment
□Applicable?NotapplicableTheCompanyhasnoderivativesinvestmentinthePeriod
5.Applicationofraisedproceeds
□Applicable?NotapplicableTherewasnouseofraisedfundsduringthereportingperiodofthecompany.
VIII.Salesofmajorassetsandequity
1.Salesofmajorassets
□Applicable?NotapplicableTheCompanyhadnosalesofmajorassetsinthereportingperiod.
2.Salesofmajorequity
□Applicable?NotapplicableIX.Analysisofmainholdingcompanyandstock-jointlycompanies
?Applicable□NotapplicableParticularaboutmainsubsidiariesandstock-jointlycompaniesnetprofitover10%
InRMB
| Companyname | Type | Mainbusiness | Registercapital | Totalassets | Netassets | Operatingrevenue | Operatingprofit | Netprofit |
| ShenzhenCerealsGroupCo.,Ltd | Subsidiary | Grain&oiltradingprocessing,grainandoilreserveservice | 1,530,000,000 | 7,582,827,091.74 | 4,045,574,202.44 | 5,771,901,547.09 | 317,583,420.26 | 231,791,781.04 |
| ShenzhenHualianGrainandOilTrading | Subsidiary | Grain&oiltrading | 100,000,000 | 1,285,109,774.64 | 280,425,849.01 | 2,041,817,804.89 | 66,309,341.11 | 58,133,479.12 |
| Co.,Ltd. | ||||||||
| DongguanShenliangLogisticsCo.,Ltd. | Subsidiary | Grain&oiltradingprocessing,warehouse,andlogistics | 298,000,000 | 2,641,182,087.16 | 390,296,857.83 | 1,102,439,408.64 | 54,020,829.20 | 38,288,511.78 |
Particularaboutsubsidiariesobtainedordisposedinreportingperiod?Applicable?NotapplicableExplanationonmainholding/stock-jointlyenterprise:
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,totalassetsreached7,582,827,091.74yuan,andnetassetsamountedto4,045,574,202.44yuan,andshareholders’equityattributabletoparentcompanywas3,820,283,971.29yuan;inthereportingperiod,theoperationrevenue,netprofitandnetprofitattributabletoshareholderofparentcompanywere5,771,901,547.09yuan,231,791,781.04yuanand213,490,625.43yuanrespectively.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,totalassetsreached1,285,109,774.64yuan,andnetassetsamountedto280,425,849.01yuan,andshareholders’equityattributabletoparentcompanywas251,319,373.93yuan;inthereportingperiod,theoperationrevenue,netprofitandnetprofitattributabletoshareholderofparentcompanywere2,041,817,804.89yuan,58,133,479.12yuanand56,761,134.19yuanrespectively.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.Projectsthatrequireapprovalaccordingtolawcanonlybe
operatedwiththeapprovalofrelevantdepartments.Itsregisteredcapitalis2,980,000.00yuan.Asoftheendofcurrentperiod,totalassetsreached2,641,182,087.16yuan,andnetassetsamountedto390,296,857.83yuan,andshareholders’equityattributabletoparentcompanywas390,296,857.83yuan;inthereportingperiod,theoperationrevenue,netprofitandnetprofitattributabletoshareholderofparentcompanywere1,102,439,408.64yuan,38,288,511.78yuanand38,288,511.78yuanrespectively.
X.StructuredvehiclecontrolledbytheCompany
□Applicable?Notapplicable
XI.Prospectsonfuturedevelopment
(i)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.(ii)Thecompany’sdevelopmentstrategyDuringthe14
th
Five-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”.(iii)Operationplanfortheyearof2024In2024,thecompanywillcloselyadheretothecentralideologyof“seekingprogresswhilemaintainingstability,andinnovatingwhileadheringtothefundamentals”.Buildinguponourcorebusiness,thecompanywillseeknewbreakthroughs,extendthegrainindustrychain,enhancethevaluechain,andconstructacomprehensivesupplychain,establishinga“biggrain”,“bigindustry”,and“bigcirculation”frameworkspanningfromrawgraintofinishedproducts,fromproductionareastodistributionareas,andfromfieldstotables.Keyfocusesinclude:
1．Enhancemarketexpansioncapabilities.Activelyexpandbulktradebusiness,intensifyingmarketdevelopmentefforts,leverageinformationongrainusage,inventorystructures,procurementchannelsofterminalenterprises,andourcompany’sexistingresourcessuchasdocks,warehousing,andfundstoprovideend-to-endservicesforupstreamanddownstreamcustomers.ElevatemarketingcapabilitiesforBandCsegments,revitalizetraditionalchannels,innovatemarketingchannels,nurturespecializedmarketingteams,formjointoperation“1+N”mechanism,strengthen“online+offline”integratedsales,integrateandexpandsaleschannelsandlayouts,andcreatesynergyinproductcirculation.
．Enhancebrandbuildingcapabilities.Elevatethevisibility,appeal,andreputationofthebrandofSZCH,systematically
implementbrandbuildingworkfrombrandarchitecture,brandrecognition,brandcommunicationtovaluemanagement,craftflagshipgrainandoilproducts,andestablishagoodbrandimagewithexcellentproductsandservices.
．Strengthentechnologicalinnovation.Playtheleadingroleinenterprisetechnologicalinnovation,increaseinvestmentintechnologicalinnovation,enhanceexchangeandcooperationwithdomesticandforeignuniversities,andresearchinstitutionsinthe“industry-university-research”nexus,facilitatetheintegrationandapplicationofindustrialR&Dandinnovativetechnologies,promotethetransformationofscientificandtechnologicalinnovationachievementsintorealproductivity.Activelyparticipateintheformulationofindustrystandardsinthegrainandoil,warehousing,andotherindustries,continuouslyexploreandoutputthedigitalproductandservicevalueof“SZCHStandards”.
．Acceleratebusinessmodelinnovation.Strengthenproductfunctionresearch,enrichproductformats,drivetheextensionoftheindustrychainintosegmentedfields,andsupportnewbusinessformatswithinnovativeproductcapabilities.PersistentlyiteratebusinessmarketingmodelsforgrainandoilBandCends,continuouslyoptimizeoperationalqualitythroughinnovation.5．Enhanceriskpreventionandresolutioncapabilities.Continuouslyadvancecomprehensiveriskmanagementandinternalcontrolsystemconstruction,strictlyimplementsafetyproductionresponsibilities,solidlyconductathree-yearactionplantoaddressfundamentalsafetyproductionissues,strengthentheconstructionoffoodsafetymanagementsystems,andfirmlyguardthebottomlineofsafetyandstability.(iv)Potentialrisks1．FluctuationrisksingrainandoilpurchasingandsalespricesIntheyearof2023,uncertaintiesstemmingfromexternalfactorssuchascontinuedinterestratehikesbytheFederalReserve,Russia-Ukraineconflictsandextremeweatherevents,ledtosignificantfluctuationsindomesticandinternationalgrainandoilpurchasingandsalesprices.Additionally,exportcontrolsonagriculturalproductsimposedbysomecountriesdirectlyimpactthesupplyofbulkagriculturalproducts,furtherexacerbatingthevolatilityofgrainandoilprices.Thecompanywillactivelyaddresstherisksposedbypricefluctuationstoitsoperationsbystrengtheningmarketforecasting,establishingstrategicpartnerships,optimizingsupplymanagement,andimplementingrefinedmanagementmeasurestoenhanceutilizationrates.
．Foodsafetyrisks“Qualitysafety”isthelifelineforthesustainabledevelopmentofenterprises,andfoodsafetyisaninviolableredline.Regulatoryauthoritieshavepromulgatedaseriesofregulationsandsystemsfromtoptobottomtargetingfoodsafetyhazards,corporateresponsibilities,productionmanagementcompliance,qualitysafetyinspections,andriskmonitoringandcontrol,aimingtoimplementtherequirementsof“thefourstrictestsupervisionoffoodsafety”.Basedonthediversifieddevelopmentofcurrentproductcategoriesandbusinessformats,thecompanyhasissuedthe“SZCHFoodQualitySafetyManagementMeasures”,coveringgrainandnon-grainfoodcategoriesandtheirkeybusinessprocesses,toalignwiththeexistingcompany’sbusinessmodelanddiversifiedproductqualitymanagement.Thissystem,servingasthesuperiorsystemforthecompany’sfoodsafetymanagement,fillsthegapsinprevioussystemlevels,clarifieskeypositionresponsibilities,strengthenssupervisionoverkeyprocesses,andrefinesandstandardizesdailyfoodqualitysafetymanagementworkfromfiveaspects:on-siteinspectionchecklists,enterpriseself-inspectionreporting,trainingdrillrecords,productinformationledger,ensuringthatfoodproductsmeetqualitystandards,hygienestandards,andrelevantregulatoryrequirements.
3.RiskofintensifiedmarketcompetitionAsarepresentativeenterpriseofregionalgrain,oilandfoodbusiness,comparedwithcentralenterprisesandlargemultinationalgrain,oilandfoodenterprises,thecompanystillhasacertaingapinscaleandbrandawareness.Inthefuture,thecompetitioninthe
grain,oilandfoodindustrywillbecomemoreintense,ifthecompanycannoteffectivelypromoteitsownbrandandbroadenitsmarketingchannels,itmayfacegreaterriskswhenmarketcompetitionintensifies.Inresponsetopossiblemarketandbusinessrisks,ontheonehand,thecompanymakesoverallplansforannualprocurement,carefullyoptimizesprocurementchannels,andensuressufficientgrainsupplyandorderlysupply.Ontheotherhand,thecompanycontinuestostrengthencommunicationwithupstreamanddownstreamcustomersintheindustrychain,vigorouslyexpandssaleschannels,focusesoncustomerneeds,deepensbrandandservice,andenhancesthecompany'sbrandvalueandcompetitiveness.
XII.Receptionofresearch,communicationandinterviewduringthereportingperiod
?Applicable?Notapplicable
| Receptiontime | Receptionplace | Receptionmode | Receptionobjecttype | ReceptionObject | Maincontenttalkedaboutandmaterialsprovided | Indexofbasicsituationofresearch |
| May12,2023 | OnlineValuewww.ir-online.cn | Networkplatformonlinecommunication | Other | Allinvestors | 2021annualperformancebriefing | Fordetails,pleaserefertothe“InvestorCommunicationRecordFormoftheCompany's2022AnnualPerformanceExplanationMeeting”disclosedonJuchaoWebsite(www.cninfo.com.cn)onMay12,2023 |
| December15,2023 | Conferenceroomofthecompanyin14thfloor | Spotinvestigation | Institution | GuoxinSecurities | Developmentofthecompany'sbusinessoperations,brandandsaleschannels,informationtechnologyconstruction,etc | Fordetails,pleaserefertothe“CompanyInvestorRelationsActivityRecordForm”disclosedonJuchaoWebsite(www.cninfo.com.cn)onDecember12,2023 |
XIII.ImplementationoftheActionPlanfor“DoubleImprovementofQualityandReturn”
DoesthecompanydiscloseActionPlanfor“DoubleImprovementofQualityandReturn”
□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,organizationandbusinessesBytheendofthereportingperiod,ShenzhenAgriculturalPowerGroupistheactualcontrolleroftheCompany.TheCompany,instrictaccordancewiththegovernancerulesoflistedcompaniesandotherrelevantprovisions,completelyseparatesfromthecontrollingshareholdersinbusiness,finance,personnel,assets,organizations,andhasindependentfullbusinessandselfmanagementability.
1.IndependentBusiness:
ThebusinessoftheCompanyisindependentfromcontrollingshareholdersandhascompletebusinessandselfmanagementability,andisnotdependentontheshareholdersandtheiraffiliatedenterprises,whichhasnocompetitionwithcontrollingshareholderanditssubordinateenterprises.ThecontrollingshareholderhasnodirectorindirectinterventionintheCompanybusinessactivities.
2.IndependentStaff:
TheCompanyhasspecialorganizationtomanagelaborandpayment,andhasindependentperfectpersonnelsystemandcollectivemanagementsystem.GeneralManageroftheCompanyaswellasdeputyGM,secretaryoftheBoard,CFOandotherseniorexecutivesreceiveremunerationfromtheCompany,anddon’treceiveremunerationfromshareholders’unitandsubordinateenterprisesandholdingthepostexceptdirectororsupervisor.
3.IndependentAssets:
TheCompanyhasindependentandintegrityassetstructure;Thereisnosituationwherefundsorassetsofthecompanyareoccupied
bycontrollingshareholdersfornonoperationalpurposes.
4.IndependentOrganization:
TheCompanyhassetupasoundorganizationalstructuresystemandoperatesindependently;thereisnomixedoperationbetweentheCompanyandcontrollingshareholders.
5.FinancialIndependence:
TheCompany,withindependentfinancialdepartment,hassetupindependentaccountingsystemandfinancialmanagementsystemandmakesfinancialdecisionindependently.Withindependentbankaccounts,andtaxpayment,theCompanystrictlyfollowsthefinancialsystemandhasindependentoperationandstandardizedmanagement.III.HorizontalCompetition
□Applicable?Notapplicable
IV.Annualshareholders’generalmeetingandextraordinaryshareholders’generalmeetingheldduringthereportingperiod
1.AnnualGeneralMeetinginthereportingperiod
| Ordinalnumberofmeeting | Type | Ratioofinvestorparticipation | Date | Dateofdisclosure | Resolutions |
| AnnualGeneralMeetingof2022 | AGM | 72.19% | 2023-05-17 | 2023-05-18 | ResolutionsoftheAnnualGeneralMeetingof2022(NoticeNo.2023-11)disclosedonJuchaoWebsite(www.cninfo.com.cn)onMay18,2023 |
| The1stextraordinarygeneralmeetingofshareholdersof2023 | Extraordinarygeneralmeetingofshareholders | 72.13% | 2023-09-14 | 2023-09-15 | Resolutionsofthe1stExtraordinaryGeneralMeetingofShareholdersof2023(NoticeNo.2023-21)disclosedonJuchaoWebsite(www.cninfo.com.cn)onSeptember15,2023 |
| The2ndextraordinarygeneralmeetingofshareholdersof2023 | Extraordinarygeneralmeetingofshareholders | 72.14% | 2023-11-03 | 2023-11-04 | Resolutionsofthe2ndExtraordinaryGeneralMeetingofShareholdersof2023(NoticeNo.2023-28)disclosedonJuchaoWebsite(www.cninfo.com.cn)onNovember4,2023 |
| The3rdextraordinarygeneralmeetingofshareholdersof2023 | Extraordinarygeneralmeetingofshareholders | 72.13% | 2023-12-21 | 2023-12-22 | Resolutionsofthe3rdExtraordinaryGeneralMeetingofShareholdersof2023(NoticeNo.2023-37)disclosedonJuchaoWebsite(www.cninfo.com.cn)onDecember22,2023 |
2.Requestforextraordinarygeneralmeetingbypreferredstockholderswhosevotingrightsarerestored
□Applicable?NotapplicableV.Directors,supervisorsandseniorexecutives
1.Basicinformation
| Name | Gender | Age | Title | Workingstatus | Startdatedofofficeterm | Enddateofofficeterm | Sharesheldatperiod-begin(share) | Numberofsharesincreasedinthisperiod(share) | Numberofsharesdecreasedinthisperiod(share) | Otherchanges(share) | Sharesheldatperiod-end(share) | Reasonsforincreaseordecreaseofshares |
| WangZhikai | Male | 52 | PartySecretary.ChairmanofBOD | Currentlyinoffice | 2023-11-03 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| HuXianghai | Male | 59 | DeputyPartySecretary,Director,GM | Currentlyinoffice | 2019-02-21 | 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 | 50 | Director | Currentlyinoffice | 2023-11-03 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| ZhengXiangpeng | Male | 48 | DeputyPartySecretary,Director | Currentlyinoffice | 2023-11-03 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| LuYuhe | Female | 46 | Director,CFO | Currentlyinoffice | 2021-08-02 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| ZhaoRubing | Male | 67 | Independentdirector | Currentlyinoffice | 2019-02-21 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| BiWeimin | Female | 67 | Independentdirector | Currentlyinoffice | 2019-02-21 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| LiuHaifeng | Male | 52 | 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 | 51 | Supervisor | Currentlyinoffice | 2023-11-03 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| ZhengShengqiao | Male | 56 | DeputyPartySecretary,employeesupervisor | Currentlyinoffice | 2019-02-21 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| MaZenghai | Male | 59 | Employeesupervisor | Currentlyinoffice | 2019-02-21 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| ChenXiaohua | Male | 57 | MemberofthePartyCommittee,DeputyGM,andSecretaryoftheBoardofDirectors | Currentlyinoffice | 2020-08-24 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| ShenHua | Mmle | 49 | MemberofthePartyCommittee,DeputyGM | Currentlyinoffice | 2023-11-03 | 2026-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| XiaoHui | Male | 45 | 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 | - |
| NiYue | Female | 49 | Originaldirector | Officeleaving | 2018-05-15 | 2023-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| WangHuimin | Female | 56 | FormerSecretaryoftheCommissionforDisciplineInspectionandChairmanoftheSupervisoryBoard | Officeleaving | 2018-05-15 | 2023-09-15 | 0 | 0 | 0 | 0 | 0 | - |
| LiuJi | Male | 48 | Formersupervisor | Officeleaving | 2019-02-21 | 2023-11-03 | 0 | 0 | 0 | 0 | 0 | - |
| QianWenying | Female | 51 | Formersupervisor | Officeleaving | 2019-02-21 | 2023-11-15 | 0 | 0 | 0 | 0 | 0 | - |
| DaiBin | Male | 59 | FormermemberofthePartyCommittee,DeputyGM | Officeleaving | 2019-02-21 | 2023-11-15 | 0 | 0 | 0 | 0 | 0 | - |
| MengXiaoxian | Male | 51 | FormermemberofthePartyCommittee,DeputyGM | Officeleaving | 2019-09-11 | 2023-09-11 | 0 | 0 | 0 | 0 | 0 | - |
| Total | -- | -- | 0 | 0 | 0 | 0 | 0 | -- |
Duringthereportingperiod,isthereanydepartureofdirectorsandsupervisorsanddismissalofseniorexecutives?Yes□No
1.TheboardofdirectorsofthecompanyreceivedawrittenresignationreportfromMr.MengXiaoxian,amemberofthecompany'spartycommitteeanddeputyGM,onSeptember11,2023.Duetojobtransfer,Mr.MengXiaoxianappliedtoresignfromthepositionofdeputyGMandhewillnolongerholdanyotherpositionsinthecompanyafterresigning.
2.Thecompany’ssupervisoryboardreceivedawrittenresignationreportfromMs.WangHuimin,thesecretaryoftheDisciplineInspectionCommissionandChairmanoftheSupervisoryBoard,onSeptember15,2023.Duetojobtransfer,Ms.WangHuiminappliedtoresignfromherpositionasChairmanoftheSupervisoryBoardandshewillnolongerholdanyotherpositionsinthecompanyafterresigning.
3.ThesecondextraordinarygeneralmeetingofshareholdersheldbythecompanyonNovember3,2023,reviewedandapprovedtheProposalfortheElectionofNon-independentDirectors,theProposalfortheElectionofIndependentDirectorandthetheProposalfortheElectionofSupervisoryBoard.The11
thsessionofdirectorsandsupervisorsofthecompanywereelected,andMs.NiYue,Mr.LiuJi,andMs.QianWenying,the10
th
sessionofthedirectors,leftaftertheirtermsofofficeexpired.
4.OnNovember3,2023,thefirstmeetingofthe11
th
sessionoftheBoardofDirectorsofthecompanyreviewedandapprovedtheProposalontheAppointmentofSeniorManagementPersonnel.The11
th
seniormanagementpersonnelofthecompanywereappointed,andMr.DaiBin,the10
th
deputyGMofthecompany,resignedupontheexpirationofhisterm.Changesofdirectors,supervisorsandseniorofficers?Applicable□Notapplicable
| Name | Title | Type | Date | Reason |
| MengXiaoxian | MemberofthePartyCommittee,DeputyGM | Dismissed | Sep.11,2023 | Jobtransfer |
| WangHuimin | SecretaryoftheCommissionforDisciplineInspectionandChairmanoftheSupervisoryBoard | Resigned | Sep15,2023 | Jobtransfer |
| NiYue | Director | Resigneduponexpirationofterm | Nov3,2023 | Transition |
| LiuJi | Supervisor | Resigneduponexpirationofterm | Nov3,2023 | Transition |
| QianWenying | Supervisor | Resigneduponexpirationofterm | Nov3,2023 | Transition |
| DaiBin | MemberofthePartyCommittee,DeputyGM | Resigneduponexpirationofterm | Nov3,2023 | Transition |
| WangZhikai | PartySecretary.ChairmanofBOD | Elected | Nov3,2023 | Transition |
| GuCheng | Director | Elected | Nov3,2023 | Transition |
| ZhangGuoyuan | Director | Elected | Nov3,2023 | Transition |
| ZhengXiangpeng | DeputyPartySecretary.ChairmanofBOD | Elected | Nov3,2023 | Transition |
| YouHongxia | Supervisor | Elected | Nov3,2023 | Transition |
| LiuXinqing | Supervisor | Elected | Nov3,2023 | Transition |
| ShenHua | MemberofthePartyCommittee,DeputyGM | Employed | Nov3,2023 | Transition |
| DuJianguo | MemberofthePartyCommittee,DeputyGM | Employed | Nov3,2023 | Transition |
2.Post-holdingProfessionalbackground,majorworkingexperienceandpresentmainresponsibilitiesinCompanyofdirectors,supervisorsandseniorexecutive(i)Director
Mr.WangZhikai:Bornin1971,holdsamaster’sdegree.FormerlyservedasdeputydirectoranddirectoroftheEnterpriseSecondDivisionoftheStateownedAssetsSupervisionandAdministrationCommissionoftheShenzhenMunicipalPeople’sGovernment,andDirectoroftheStrategicDevelopmentDivision;deputyGMandPartyCommitteeMemberofShenzhenTalentAnjuGroupCo.,Ltd.HeiscurrentlymemberofthePartyCommitteeofShenzhenAgriculturalPowerGroupCo.,Ltd,thesecretaryofthecompany'sPartyCommitteeandChairman.Mr.HuXianghai:bornin1964,master’sdegreeandasenioreconomist.HesuccessivelyservedasthelecturerofShenzhenInstituteofEducation;directorofgeneralofficeofAsiaBranchoftheShenzhenHualeIndustrialCo.,Ltd.;directoroftheShenzhenEnterpriseManagementCadreTrainingCenter;deputysecretarygeneralandofficedirectoroftheSecretarialShenzhenAssociationofEnterpriseManagementandShenzhenAssociationofChineseandForeignEntrepreneurs;directorofdevelopmentdept.anddirectorofthemarketingmanagementdept.ofShenzhenSpecialEconomicZoneDuty-FreeCommodityEnterpriseCompany;GMofTemianElectronicTechnologyProfessionalMarketManagementCo.,Ltd.;assistanttotheGMandGMofenterprisedept.,GM,deputysecretaryofthepartycommittee,directorandGMofShenzhenAgriculturalProductsCo.,Ltd;servedasthepresidentofShenzhenSouthAgriculturalProductsLogisticsCo.,Ltd.whiletakepostasassistanttothedeputyGM,andthepresidentof
ShenzhenQianhaiAgriculturalProductsExchangeCo.,Ltd;deputysecretaryofthepartycommittee,directorandGMofShenzhenCerealsGroupCo.,Ltd.Nowheservesasdeputysecretaryofthepartycommittee,directorandGMoftheCompany.Mr.GuCheng:Bornin1973,holdamaster’sdegree.HeformerlyservedastheSecretaryoftheYouthLeagueCommitteeoftheEducationBureauofLonggangDistrict,Shenzhen;thedirectoranddeputydirectoroftheOfficeoftheShenzhenFederationofTradeUnions,ministerofLegalWork,ministerofGrassrootsOrganizationConstruction,MinisterofGrassrootsOrganizationConstructionandEconomicWork,memberofthePartyGroupandvicechairmanoftheShenzhenFederationofTradeUnions;memberofthePartyWorkingCommitteeofShenzhen’sTwoNewOrganizations;andmembersoftheShenzhenMunicipalCommitteeoftheChinesePeople’sPoliticalConsultativeConferenceandotherpositions.Now,heisdeputysecretaryofthePartyCommitteeanddirectorofShenzhenAgriculturalPowerGroupCo.,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(inthisperiod,hewasappointedasamemberoftheLonggangStreetPartyWorkingCommitteeandDeputyDirectoroftheOffice),deputydirectoranddirectoroftheRegionalNewsDepartment,andmemberofShenzhenSpecialZoneDailyEditorialCommittee;assistanttothePresidentofShenzhenPressGroup,directoroftheOfficeofShenzhenPressGroup,andchairmanofShenzhenPressEducationMediaGroup;deputysecretaryofthePartyCommittee,director,andchairmanoftheTradeUnionofShenzhenFoodMaterialsGroupCo.,Ltd.Heiscurrentdeputysecretaryanddirectorofthecompany’sPartyCommittee.Ms.LuYehe:bornin1977,master’sdegreeandCPA.ShepreviouslyworkedastheseniorauditorofErnst&Young;theindependentnon-executivedirector,DirectorandCFOofChinaTrendsHoldingsLimited;CFOofVIEIN;DirectorandCFOoftheShenzhenExhibition&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,thememberof
investmentcommitteeanddirectorofassetfinancedept.Aswellasthedirectorofenterprisemanagementdeptandlegalaffairsdepartment.NowsheservesastheindependentdirectoroftheCompany.Mr.LiuHaifeng:bornin1971,doctor’degreeandalawyer.HesuccessivelyservedasdirectoroflegaldepartmentofShenzhenPropertyDevelopment(Group);thepartnerofGuangdongXintongLawsFirm.NowheservesasindependentdirectoroftheCompanyandfirst-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.Heservedsuccessivelyaschiefofthe
secretarialsection,deputydirectoranddirectoroftheofficeoftheboardofdirectors,andsecretaryoftheboard,director,andvicepresidentofShenzhenAgriculturalProductsGroupCo.,Ltd.,concurrentlyservedaschairmanofGuangxiHaijixingInternationalLogisticsCo.,Ltd.,chairmanofTianjinHaijixingAgriculturalProductsMarketManagementCo.,Ltd.,andchairmanofTianjinHaijixingAgriculturalProductsLogisticsCo.,Ltd.Hecurrentlyservesasthememberofpartycommittee,deputygeneralmanagerandsecretaryoftheboardofthecompany.Mr.ShenHua:Bornin1975,holdsamaster’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 | Startdatedofofficeterm | Enddateofofficeterm | Whetherreceivingremunerationfromshareholdingentities(Y/N)? |
| WangZhikai | ShenzhenAgriculturalPowerGroupCo.,Ltd. | 2023-09-01 | N | |
| GuCheng | ShenzhenAgriculturalPowerGroupCo.,Ltd. | 2022-09-01 | Y | |
| GuCheng | ShenzhenAgriculturalProductsGroupCo.,Ltd | 2023-01-17 | N | |
| ZhangGuoyuan | ShenzhenAgriculturalPowerGroupCo.,Ltd. | 2023-08-01 | Y | |
| YouHongxia | ShenzhenAgriculturalPowerGroupCo.,Ltd. | 2023-10-01 | Y | |
| LiuXinqing | ShenzhenAgriculturalPowerGroupCo.,Ltd. | 2023-10-01 | Y | |
| Explanationofemploymentinshareholderunits | NA | |||
Post-holdinginotherentities?Applicable□Notapplicable
| Name | Nameofotherentities | Position | Startdatedofofficeterm | Enddateofofficeterm | Whetherreceivingremunerationfromotherentities(Y/N)? |
| ZhaoRubing | BoseraFundManagementCo.,Ltd. | Independentdirector | 2017-12-01 | Y | |
| ZhaoRubing | SouthwestSecuritiesCo.,Ltd | Independentdirector | 2017-03-01 | 2023-12-25 | Y |
| LiuHaifeng | GuangdongHanchengLawsFirm | First-levelpartner | 2007-02-01 | Y | |
| Explanationonpost-holdinginshareholdingentities | N/A | ||||
PunishmentofsecuritiesregulatoryauthoritiesinrecentthreeyearstotheCompany’scurrentandoutgoingdirectors,supervisorsandseniormanagementduringthereportingperiod
□Applicable?Notapplicable
3.Remunerationfordirectors,supervisorsandseniorexecutives
Decision-makingprocedures,determinationbasesandactualpaymentofremunerationsofdirectors,supervisorsandseniorexecutivesDuringthereportingperiod,accordingtotheCompanyPerformanceManagementMeasures,theremunerationandappraisalcommitteeoftheCompany’sboardofdirectorscombinedwiththeCompany’sannualbusinesssituationandindividualperformanceappraisalresultanddeterminedthesalaryofseniorexecutives.Duringthereportingperiod,thesubsidiarystandardofindependentdirectorsissubjecttotheresolutionbytheFifthExtraordinaryGeneralMeetingof2019andadjustedas138,000yuan(taxinclusive)peryearforoneperson.Remunerationfordirectors,supervisorsandseniorexecutivesinreportingperiod
Unit:10thousandYuan
| Name | Title | Gender | Age | Post-holdingstatus | TotalremunerationobtainedfromtheCompany | WhetherremunerationobtainedfromrelatedpartyoftheCompany |
| WangZhikai | Male | 52 | PartySecretaryandChairman | Currentlyinoffice | 14.69 | N |
| HuXianghai | Male | 59 | DeputySecretaryofthePartyCommittee,Director,andGM | Currentlyinoffice | 140.18 | N |
| GuCheng | Male | 50 | Director | Currentlyinoffice | 0 | Y |
| ZhangGuoyuan | Male | 50 | Director | Currentlyinoffice | 0 | Y |
| ZhengXiangpeng | Male | 48 | DeputySecretaryofthePartyCommitteeandDirector | Currentlyinoffice | 13.01 | N |
| LuYuhe | Female | 46 | DirectorandCFO | Currentlyinoffice | 50 | Y |
| ZhaoRubing | Male | 67 | independentdirector | Currentlyinoffice | 13.8 | N |
| BiWeimin | Female | 67 | independentdirector | Currentlyinoffice | 13.8 | N |
| LiuHaifeng | Male | 52 | independentdirector | Currentlyinoffice | 13.8 | N |
| ZhengShengqiao | Male | 56 | DeputySecretaryoftheCommissionforDisciplineInspectionandemployeesupervisor | Currentlyinoffice | 115.91 | N |
| MaZenghai | Male | 59 | Employeesupervisor | Currentlyinoffice | 107.07 | N |
| ChenXiaohua | Male | 57 | DeputyGMandSecretaryoftheBoardofDirectors | Currentlyinoffice | 125.72 | N |
| ShenHua | Male | 48 | DeputyGM | Currentlyinoffice | 13.01 | N |
| XiaoHui | Male | 45 | DeputyGM | Currentlyinoffice | 127.24 | N |
| DuJianguo | Male | 50 | DeputyGM | Currentlyinoffice | 13.01 | N |
| NiYue | Female | 49 | FormerDirector | Officeleaving | 12.5 | Y |
| WangHuimin | Female | 56 | FormerSecretaryoftheCommissionforDisciplineInspectionandChairmanoftheSupervisoryBoard | Officeleaving | 35.42 | Y |
| LiuJi | Male | 48 | Formersupervisor | Officeleaving | 0 | N |
| QianWenying | Female | 51 | Formersupervisor | Officeleaving | 0 | N |
| DaiBin | Male | 59 | FormerDeputyGM | Officeleaving | 127.02 | N |
| MengXiaoxian | Male | 51 | FormerDeputyGM | Officeleaving | 114.56 | N |
| Total | -- | -- | -- | -- | 1,050.74 | -- |
Otherexplanation
□Applicable?NotapplicableVI.Responsibilityperformanceofdirectorsduringthereportingperiod
1.Theboardofdirectorsduringthereportingperiod
| Meeting | Dateofmeeting | Disclosuredate | Meetingresolutions |
| The26thmeetingof10thsessionoftheBOD | 2023-02-16 | 2023-02-17 | The“Resolutionofthe26thmeetingof10thsessionoftheBOD”(NoticeNo.:2023-01)releasedonJuchaoWebsite(www.cninfo.com.cn)onFeb.17,2023 |
| The27thmeetingof10thsessionoftheBOD | 2023-04-24 | 2023-04-26 | The“Resolutionofthe27thmeetingof10thsessionoftheBOD”(NoticeNo.:2023-04)releasedonJuchaoWebsite(www.cninfo.com.cn)onApril26,2023 |
| The28thmeetingof10thsessionoftheBOD | 2023-05-30 | 2023-05-31 | The“Resolutionofthe28thmeetingof10thsessionoftheBOD”(NoticeNo.:2023-12)releasedonJuchaoWebsite(www.cninfo.com.cn)onMay31,2023 |
| The29thmeetingof10thsessionoftheBOD | 2023-07-80 | 2023-07-11 | The“Resolutionofthe29thmeetingof10thsessionoftheBOD”(NoticeNo.:2023-14)releasedonJuchaoWebsite(www.cninfo.com.cn)onJuly11,2023 |
| The30thmeetingof10thsessionoftheBOD | 2023-08-25 | 2023-08-29 | The“Resolutionofthe30thmeetingof10thsessionoftheBOD”(NoticeNo.:2023-15)releasedonJuchaoWebsite(www.cninfo.com.cn)onAug.29,2023 |
| The31stmeetingof10thsessionoftheBOD | 2023-09-20 | 2023-09-21 | The“Resolutionofthe31thmeetingof10thsessionoftheBOD”(NoticeNo.:2023-23)releasedonJuchaoWebsite(www.cninfo.com.cn)onSep.21,2023 |
| The32ndmeetingof10thsessionoftheBOD | 2023-10-18 | 2023-10-19 | The“Resolutionofthe32ndmeetingof10thsessionoftheBOD”(NoticeNo.:2023-25)releasedonJuchaoWebsite(www.cninfo.com.cn)onOct.19,2023 |
| The33rdmeetingof10thsessionoftheBOD | 2023-10-26 | 2023-10-28 | The“Resolutionofthe1stmeetingof11thsessionoftheBOD”(NoticeNo.:2023-27)releasedonJuchaoWebsite(www.cninfo.com.cn)onOct.28,2023 |
| The1stmeetingof11thsessionoftheBOD | 2023-11-03 | 2023-11-04 | The“Resolutionofthe1stmeetingof11thsessionoftheBOD”(NoticeNo.:2023-29)releasedonJuchaoWebsite(www.cninfo.com.cn)onNov.4,2023 |
| The2ndmeetingof11thsessionoftheBOD | 2023-11-24 | 2023-11-25 | The“Resolutionofthe2ndmeetingof11thsessionoftheBOD”(NoticeNo.:2023-30)releasedonJuchaoWebsite(www.cninfo.com.cn)onNov.25,2023 |
| The3rdmeetingof11thsessionoftheBOD | 2023-12-05 | 2023-12-06 | The“Resolutionofthe3rdmeetingof11thsessionoftheBOD”(NoticeNo.:2023-34)releasedonJuchaoWebsite(www.cninfo.com.cn)onDec.6,2023 |
| The4thmeetingof11thsessionoftheBOD | 2023-12-21 | 2023-12-22 | The“Resolutionofthe4thmeetingof11thsessionoftheBOD”(NoticeNo.:2023-38)releasedonJuchaoWebsite(www.cninfo.com.cn)onDec.22,2023 |
2.TheattendanceofdirectorstoBoardmeetingsandshareholdersgeneralmeeting
| TheattendanceofdirectorstoBoardMeetingandShareholdersGeneralMeeting | |||||||
| Director | TimesofBoardmeetingsupposedtoattendinthereportingperiod | TimesofPresence | TimesofattendingtheBoardMeetingbycommunication | Timesofentrustedpresence | TimesofAbsence | AbsenttheMeetingforthesecondtimeinarow(Y/N) | Timesofattendthegeneralmeeting |
| WangZhikai | 4 | 3 | 1 | 0 | 0 | N | 1 |
| HuXianghai | 12 | 7 | 4 | 1 | 0 | N | 3 |
| GuCheng | 4 | 2 | 1 | 1 | 0 | N | 0 |
| ZhangGuoyuan | 4 | 2 | 1 | 1 | 0 | N | 0 |
| ZhengXiangpeng | 4 | 3 | 1 | 0 | 0 | N | 1 |
| LuYuhe | 12 | 9 | 3 | 0 | 0 | N | 4 |
| ZhaoRubing | 12 | 8 | 4 | 0 | 0 | N | 4 |
| BiWeimin | 12 | 6 | 6 | 0 | 0 | N | 4 |
| LiuHaifeng | 12 | 11 | 1 | 0 | 0 | N | 4 |
| NiYue | 8 | 6 | 2 | 0 | 0 | N | 2 |
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,hiringauditorsandothermatters
occurredduringthereportingperiodintime.DutiesperformanceofindependentdirectorshasimprovedthecorporategovernancestructureandsafeguardedtheinterestsoftheCompanyanditsshareholders.Fromperformanceofdutiesofindependentdirectors,pleasereferto“2023AnnualWorkReportofIndependentDirectors”disclosedinwww.cninfo.com.cn.
VII.PerformanceofDutiesbySpecializedCommitteesundertheBoardMeetingintheReportingPeriod
| Committeename | Members | Numberofmeetingsheld | Dateofmeeting | Meetingcontent | Importantcommentsandsuggestionsmade | Otherperformanceofduties | Specificcircumstancesoftheobjection(ifapplicable) |
| TheAuditCommitteeofthe10thsessionofBoardofDirectorsoftheCompany | BiWeimin,ZhaoRubing,LuYuhe | 4 | April24,2023 | (1)Deliberatedthe2022InternalControlEvaluationReportoftheCompany;(2)Deliberatedthe2023InternalAuditandPostInvestmentEvaluationWorkPlanoftheCompany;(3)DeliberatedtheCompany's2022FinancialReport;(4)DeliberatedtheCompany'sQ12023FinancialReport. | - | - | NA |
| May30,2023 | (1)Deliberatethe2022InternalControlSystemWorkReportoftheCompany;(2)Deliberatedthe2023MajorRiskAssessmentReportoftheCompany. | - | - | NA | |||
| August25,2023 | (1)DeliberatedtheCompany's2023HalfYearFinancialReport;(2)DeliberatedtheProposalonFinancialWrite-offofAssetDisposalandAssetImpairmentProvisionofSubsidiaries;(3)DeliberatedtheImplementationPlanandAnnual | - | - | NA |
| PlanfortheConstructionoftheCompany'sComplianceManagementSystem. | |||||||
| October26,2023 | DeliberatedtheCompany'sThirdQuarterFinancialReportfor2023 | - | - | NA | |||
| The10thsessionofBoardofDirectorsRemunerationandAssessmentCommitteeoftheCompany | ZhaoRubing,BiWeimin,NiYue | 3 | February16,2023 | DeliberatedtheProposalon"OneAgreementandTwoLettersofResponsibilities"forMembersoftheCompany'sManagementTeam | - | - | NA |
| April24th,2023 | DeliberatedtheProposalontheRemunerationofDirectorsandSeniorManagementPersonneloftheCompanyfortheYear2022 | - | - | NA | |||
| June11,2023 | Report,Inquiry,andEvaluationofSeniorManagementPersonneloftheCompanyfortheYear2022 | Inquireandevaluatetheperformanceofseniormanagementpersonnelfortheyear2022andprovideassessmentopinions | - | NA | |||
| TheNominationCommitteeofthe10thsessionofBoardofDirectorsoftheCompany | ZhaoRubing,BiWeimin,LiuHaifeng | 1 | October18,2023 | DeliberatedtheProposalonNominatingCandidatesforthe11thSessionofBoardofDirectorsoftheCompany | Aftercollecting,organizing,andverifyingtheeducationalbackground,professionaltitle,andworkexperienceofthecandidatesforthe11thsessionofBoardofDirectors,thecandidateswerenominated | - | NA |
| TheStrategyCommitteeofthe10thsessionof | ZhaoRubing,LiuHaifeng, | 3 | April24,2023 | (1)DeliberatedtheDraftComprehensiveBudgetfortheYear | - | - | NA |
| BoardofDirectorsoftheCompany | HuXianghai | 2023oftheCompany;(2)DeliberatedtheProposalonDongguanLogisticsCompany'sInvestmentintheConstructionofBerth3. | |||||
| July8,2023 | DeliberatedtheProposalonthePublicListingandTransferof51%EquityofWuhanJiachengBiologicalProductsCo.,Ltd | - | - | NA | |||
| September20,2023 | DeliberatedtheProposalonthePublicListingandTransferof51%EquityandDebtofWuhanJiachengBiologicalProductsCo.,Ltd | - | - | NA | |||
| TheAuditCommitteeofthe11thsessionofBoardofDirectorsoftheCompany | BiWeimin,ZhaoRubing,ZhangGuoyuan | 1 | November24,2023 | (1)DeliberatedtheProposalonAmendingtheWorkRegulationsoftheAuditCommitteeoftheCompany'sBoardofDirectors(2)DeliberatedtheWorkPlanforSupervisionandEvaluationoftheCompany'sInternalControlSystemfrom2023to2025(3)DeliberatedtheProposalonHiringanAccountingFirmfortheYear2023 | ProposetohireGrantThorntonCertifiedPublicAccountantLLP(SpecialGeneralPartnership)asthecompany'sfinancialauditandinternalcontrolauditagencyfortheyear2023 | - | NA |
| The11thsessionofBoardofDirectorsRemunerationandAssessmentCommitteeoftheCompany | ZhaoRubing,BiWeimin,LuYuhe | 2 | November24,2023 | DeliberatedtheProposalonAmendingtheWorkRegulationsoftheCompany'sBoardofDirectorsCompensationandAssessmentCommittee | - | - | NA |
| December21,2023 | DeliberatedtheProposalontheAppointmentAgreementofCompanyManagement | - | - | NA |
| MembersandtheAnnualBusinessPerformanceResponsibilityLetter | |||||||
| TheNominationCommitteeofthe11thsessionofBoardofDirectorsoftheCompany | ZhaoRubing,WangZhikai,LiuHaifeng | 1 | November24,2023 | DeliberatedtheProposalonAmendingtheWorkRegulationsoftheNominationCommitteeoftheCompany'sBoardofDirectors | - | - | NA |
| TheStrategyCommitteeofthe11thsessionofBoardofDirectorsoftheCompany | WangZhikai,ZhaoRubing,GuCheng | 1 | November24,2023 | (1)ProposalonAmendingtheWorkRegulationsoftheStrategicCommitteeoftheBoardofDirectorsoftheCompany(2)ProposalontheAcquisitionof30%MinorityEquityProjectofBigKitchenbyShenzhenCerealsGroupCo.,Ltd | - | - | NA |
VIII.WorksoftheBoardofSupervisors
Doesthetheboardofsupervisorsdiscoveranyrisksinthecompanyduringitssupervisoryactivitiesduringthereportingperiod?
□Yes?NoTheboardofsupervisorshasnoobjectionaboutsupervisioneventsinreportingperiod
IX.Particularsofworkforce
1.NumberofEmployees,Professionalcomposition,Educationbackground
| Employeein-postoftheparentCompanyatperiod-end(people) | 114 |
| Employeein-postofmainsubsidiariesatperiod-end(people) | 1,101 |
| Thetotalnumberofcurrentemployeesatperiod-end(people) | 1,215 |
| Thetotalnumberofcurrentemployeestoreceivepay(people) | 1,215 |
| Retiredemployee’sexpensesbornbytheparentCompanyandmainsubsidiaries(people) | 0 |
| Professionalcomposition | |
| Categoryofprofessionalcomposition | Numbersofprofessionalcomposition(people) |
| Productionpersonnel | 374 |
| Salesperson | 108 |
| Technicians | 144 |
| Financialpersonnel | 93 |
| Administrativepersonnel | 496 |
| Total | 1,215 |
| Educationbackground | |
| Education | Numbers(people) |
| Postgraduate | 161 |
| Undergraduate | 479 |
| 3-yearsregularcollegegraduate | 254 |
| Graduateofsecondaryspecialschool | 72 |
| Highschoolandbelow | 249 |
| Total | 1,215 |
2.RemunerationPolicy
Duringthereportingperiod,employeewageswaspaidmonthlyaccordingtosalarymanagementprovisionssetbytheCompany,andtheperformance-relatedpaywasissuedbasedontheactualsituationofbenefitandindividualperformanceassessmentresultsattheyear-end,remunerationandbenefitareconnectedasawhole.
3.TrainingPlanIn2023,basedonthedeepeningoftheimplementationofaclassifiedandlayeredtalenttrainingplan,therolecharacteristicsofthephasedpopulationweresortedoutfromtheperspectiveoforganizationaldevelopmentandtalentdemand,focusingonthetalentmanagementpyramidthathasbeengraduallybuiltintheearlystage.Basedontheconstructionoftalentechelons,traininggoalsanddirectionswereformed,whileactivelyrespondingtothetrainingneedsofhigher-levelunitstocarryouttrainingeffectively.Continuouslyimprovedtheprofessionallevelandabilityoftalentcultivationinthecompany,achievedefficientutilizationofresources,andprovidedacontinuoussourceofintelligenceforthecompany’sdevelopment.
4.Laboroutsourcing
□Applicable?NotapplicableX.Profitdistributionplanandcapitalizingofcommonreservesplan
Formulation,ImplementationandAdjustmentofProfitDistributionPolicyEspeciallyCashDividendpolicyduringtheReportingPeriod?Applicable□NotapplicableTheprofitdistributionpolicyoftheCompanyisspecifiedintheArticleofAssociationas:
(1)ProfitdistributionoftheCompanyshouldpayattentiontothereasonableinvestmentreturntoinvestors,andtheprofitdistributionpolicyshouldmaintaincontinuityandstability;
(2)TheCompanymaydistributedividendsintheformofcashoracombinationofcashandstocks,andmaypayinterimcashdividends;
(3)ThefollowingconditionsshallbemetatthesametimewhentheCompanyintendstoimplementcashdividends:
1.Earningspersharefortheyearisnotlessthan0.1yuan;
2.Theauditinstitutionshallissueastandardunqualifiedauditreportonthecompany’sannualfinancialreport;
3.Thecompanyhasnomajorinvestmentplansormajorcashexpenditures(exceptforfund-raisingprojects).Majorinvestmentplans
ormajorcashexpendituresrefertothecumulativeexpendituresthatthecompanyintendstoinvest,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 |
| Independentdirectorsperformdutiescompletelyandplaya | Y |
| properrole(Y/N): | |
| Ifthecompanydoesnotdistributecashdividends,specificreasonsshouldbedisclosed,aswellasthemeasurestobetakennexttoenhanceinvestorreturns: | Y |
| Minorityshareholdershaveopportunitytoexpressopinionsanddemandstotallyandtheirlegalrightsarefullyprotected(Y/N): | Y |
| Conditionandproceduresarecomplianceandtransparentwhilethecashbonuspolicyadjustedorchanged(Y/N): | Notapplicable |
TheCompanygainsprofitsinreportingperiodandtheparentcompanyhaspositiveprofitavailablefordistributiontoshareholdersoftheparentcompanybutnocashdividenddistributionplanhasbeenproposed
□Applicable?Notapplicable
ProfitdistributionplanandcapitalizingofcommonreservesplanforthePeriod
?Applicable□Notapplicable
| Bonussharesforevery10-share(Share) | 0 |
| Dividendsforevery10-share(RMB)(taxinclusive) | 2.0 |
| Equitybaseofdistributionplan(Share) | 1152535254 |
| Cashbonusdistribution(RMB)(taxinclusive) | 230,507,050.80 |
| Cashbonusdistributioninotherways(i.e.sharebuy-backs)(RMB) | 0.00 |
| Totalcashbonus(includingotherways)(RMB) | 230,507,050.80 |
| Profitavailablefordistribution(RMB) | 416,632,837.22 |
| Ratiooftotalcashdividend(otherwaysincluded)intotalprofitdistribution | 100% |
| Cashdividend | |
| IncasetheCompanyisinadevelopmentstageandhasthearrangementofmajorcapitalexpenses,theratioofcashdividendinprofitdistributionshouldreachaminimumof20%inprofitdistribution. | |
| Detailedexplanationonprofitdistributionorcapitalaccumulationfundconversionplan | |
| AfterauditedbyGrantThorntonCertifiedPublicAccountantLLP(SpecialGeneralPartnership),inconsolidatestatementforyearof2023,thenetprofitattributabletoshareholdersofparentcompanyamountedto347,824,733.68yuan;AsofDec.31,2022,theprofitofparentcompanythatcanbedistributedforshareholderswas416,632,837.22yuan.InaccordancewithrelevantregulationsandArticleofAssociation,combinedwiththeactualdevelopmentneedsoftheCompanyandinconsiderationoftheinterestsofshareholders,BODplanstosubmittheequitydistributionplanforyearof2023toshareholdersgeneralmeeting:basedontotalsharecapital1,152,535,254sharesoftheCompanyonDec.31,2023,distribute2.0yuan(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,andformedascientificandeffectivedivisionof
responsibilitiesandchecksandbalancesmechanism,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?NoXIII.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 | April16,2024 | |
| Disclosureindexoffullinternalcontrolevaluationreport | “Internalcontrolself-appraisalreportofShenzhenCerealsHoldingsCo.,Ltd.in2023”publishedonJuchaoWebsite(http://www.cninfo.com.cn) | |
| TheratioofthetotalassetsofentitiesincludedinthescopeofevaluationaccountingforthetotalassetsontheCompany’sconsolidatedfinancialstatements | 100.00% | |
| TheratiooftheoperatingincomeofentitiesincludedinthescopeofevaluationaccountingfortheoperatingincomeontheCompany’sconsolidatedfinancialstatements | 100.00% | |
| DefectsEvaluationStandards | ||
| Category | FinancialReports | Non-financialReports |
| Qualitativecriteria | 1.Majordefects:Defectaloneortogetherwithotherdefectsinatimelymannercauseunpreventableorundetectableanduncorrectablematerialmisstatementinthe | 1.Qualitativecriteriaformajordefectsareasfollows:(1)Thelackofdemocraticdecision-makingprocess,suchasthelackofdecision-makingonmajorissues,animportantappointmentanddismissalofcadres,majorinvestmentdecisions, |
| financialstatements.TheCompanymayindicatethepresenceofsignificantdeficienciesininternalcontroloverfinancialreportingiffollowingcircumstances:(1)Thedirectors,supervisorsandseniormanagementfraud;(2)Enterprisecorrectsmistakewhichhasbeenpublishedinfinancialstatements;(3)CPAfindsmaterialmisstatementincurrentfinancialstatements,butinternalcontrolduringoperationfailstofindthemisstatements;(4)Oversightofinternalcontrolbycorporateauditcommitteeandtheinternalauditisinvalid;(5)Particularlyimportantorsignificantdeficienciesfoundduringinternalcontrolhasnotbeenrectified;(6)Thelackofbusiness-criticalsystemorinvalidsystem.2.Importantdefect:defectaloneortogetherwithotherdefectsinatimelymannercauseunpreventableorundetectableanduncorrectablematerialmisstatementinthefinancialstatements,althoughnotreachandexceedthelevelofimportance,shouldleadtomanagementattentionmisstatements.3.GeneralDefects:otherinternaldefectsdonotposeasignificantorimportantdefectcontroldeficiency. | largesumsofmoneyusingthedecision-makingprocess;(2)Decision-makingprocessisnotscientific,suchasmajorpolicymistakes,resultinginsignificantpropertydamagetotheCompany;(3)Seriousviolationsofnationallawsandregulations;(4)Lossofkeyexecutivesorlossofalargenumberofkeytalent;(5)Frequentnegativenewsinmedia,whichcausesnationwideimpact.2.Thequalitativecriteriaforimportantdefectsareasfollows:(1)Thedecision-makingprocessisnotperfect;(2)Thecompany’sinternalmanagementsystemhasnotbeeneffectivelyimplemented,resultinginlosses;(3)Frequentoccurrenceofnegativenewsinthemediawithcertaininfluence;(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%of | Majordefects:theamountofdirectpropertyloss≥12millionyuan,havebeenofficiallydisclosedoutsidetheCompanydisclosedinperiodicreportsandadverselyaffected.Importantdefects:3millionyuan<theamountofdirectpropertyloss<12millionyuan,punishedbythestategovernmentbutnonegativeimpactonthedisclosureofthecompany’sregularreports;Generaldefects:theamountofdirectpropertyloss≤3millionyuan,punishedbytheprovincial(includingprovincial)governmentbutno |
| operatingincome,2.5%oftotalprofit≤Potentialmisstatementoftotalprofit<5%oftotalprofit;Generaldefects:Potentialmisstatementoftotalassets<0.5%oftotalcapital;PotentialmisstatementofOperatingrevenue<0.5%ofoperatingincome;Potentialmisstatementoftotalprofit<2.5%oftotalprofit; | negativeimpactonthedisclosureofourcompany’sregularreports; | |
| Amountofsignificantdefectsinfinancialreports | 0 | |
| Amountofsignificantdefectsinnon-financialreports | 0 | |
| Amountofimportantdefectsinfinancialreports | 0 | |
| Amountofimportantdefectsinnon-financialreports | 0 | |
2.Internalcontrolauditreport
?Applicable□Notapplicable
| DeliberationsinInternalControlAuditReport | |
| BDOChinaShuLunPanCertifiedPublicAccountantLLPbelievesasofDec.31,2022,thecompanymaintainedeffectiveinternalcontroloverfinancialreportinginallsignificantaspectsinaccordancewiththeBasicStandardsforEnterpriseInternalControlandrelevantregulations | |
| Disclosuredetailsofauditreportofinternalcontrol | Disclosed |
| Disclosuredateofauditreportofinternalcontrol(full-text) | 2023-04-16 |
| Indexofauditreportofinternalcontrol(full-text) | TheinternalcontrolauditreportofSHENZHENCEREALSHOLDINGSCO.,LTD.in2023publishedonJuchaoWebsite(www.cninfo.com.cn) |
| Opiniontypeofauditingreportofinternalcontrol | Standardunqualified |
| Whetherthenon-financialreporthadmajordefects | No |
Doestheaccountingfirmissueaninternalcontrolauditreportwithnon-standardopinions?
□Yes?NoIstheinternalcontrolauditreportissuedbytheaccountingfirmconsistentwiththeself-evaluationreportoftheboardofdirectors?theBoard?Yes□NoXV.RectificationofSelf-examinationProblemsinSpecialGovernanceActionsinListedCompanyDuringthereportingperiod,thecompanyconductedself-examinationandself-correctiononcorporategovernanceinaccordancewiththerequirementsoftheAnnouncementonLaunchingSpecialActionsonCorporateGovernanceofListedCompaniesoftheChinaSecuritiesRegulatoryCommission.Throughthisself-examination,thecompanyhasestablishedandimprovedarelativelycompleteandreasonablecorporategovernancestructureandinternalcontrolsysteminaccordancewithrelevantlawsandregulationssuchastheCompanyLaw,GuidelinesforGovernanceofListedCompanies,SelfRegulatoryGuidelinesforListedCompaniesNo.1-StandardizedOperationofMainBoardListedCompanies,etc..Thecompanydidn’tfindanymajordeficienciesandrisksin
standardizedoperations.Inthefuture,thecompanywillfocusonimprovingthehigh-qualitydevelopmentofthelistedcompany,continuetoimprovethecorporategovernancesystem,effectivelyimprovetheeffectivenessofcorporategovernanceandscientificityofdecision-making,andachievestableoperationandsustainabledevelopmentofthecompany.
SectionV.EnvironmentalandSocialResponsibilityI.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.ConsolidatingandexpandingtheachievementsofpovertyalleviationandruralrevitalizationThoroughlyimplementtheimportantteachingsofGeneralSecretaryXiJinpingregardingthe“workofagriculture,ruralareasandfarmers”,aswellasthestrategyofruralrevitalization,inaccordancewiththerelevantworkarrangementsoftheprovincialandmunicipalcommittees,focusingontheobjectivesofthe“High-QualityDevelopmentProjectforHundredsofCounties,ThousandsofTowns,andMyriadVillages”.Fullyleveragetheadvantagesofcompanyresources,strengthencommunicationandcollaborationwithcounterpartassistanceunits,mobilizesocialforcesextensively,andsolidlypromotetheeffectiveconnectionbetweenconsolidatingandexpandingtheachievementsinpovertyalleviationandruralrevitalization.
First,enhanceindustrialdrivetopromotethehigh-qualityandefficientdevelopmentoflocalspecialtyagriculturalindustries.Leveragingourstrengthsandexperienceingrainandoilproduction,processing,andstorage,wefocusonthepeanutindustryintheassistedtownsandkeyvillageswherethefirstsecretariesarestationed.Wecoordinateinternalandexternalresourcesofthecompanytoprovideassistanceandsupportinvariousaspectsincludinggrainandoilprocessingtechnology,qualitycontrol,foodsafety,andexpandingchannelsales.Second,strengthenguidanceon"Zhenpin"declarationtosupporttheupgradingoflocalhigh-qualityagriculturalproducts.Weprovidecomprehensiveguidancetoenterprisesinassistedareasonthepoliciesandproceduresfor"Zhenpin"declaration,assistinglocalspecialtyagriculturalproductsinapplyingforthe"Zhenpin"designation,andhelpingestablishasoundconnectionwithdeepfoodstandardssystem.Third,strengthentheconnectionbetweenproductionandsalestoassistfarmersinachievingabundantyieldsandsmoothsales.Thecompany’ssubsidiarieshavesignedajointagreementforindustrialassistanceanddevelopmentwiththetownandvillageassistanceteamstationedinTuochengTown,LongchuanCounty.Leveragingthecompany’soperationalplatformandthemarketresourcesofbothparties,weaimtoexpandthemarketchannelsforhigh-qualityagriculturalproductsthroughcollaborativebranding,effectivelypromotingtheintegrateddevelopmentofindustriesandruralrevitalization.Fourth,increaseconsumerassistanceeffortstofullypromoteruralrevitalization.Wemeticulouslyplanpartybuilding,industrialassistance,andconsumerassistanceinassistedareas,adoptingthemethodof“purchaseinsteadofsales,andbuyinginsteadofassistance”.In2023,wepurchasedagriculturalandsidelineproductsfromassistedareassuchasHeyuaninGuangdong,LiangshanandLitanginSichuan,exceeding8.5millionyuan.Thissolidlysupportstheindustrialdevelopmentofassistedareasandcontinuestoconsolidateandexpandtheachievementsinpovertyalleviation.
SectionVI.ImportantEventsI.Implementationofcommitment
1.CommitmentscompletedinPeriodandthosewithoutcompletedtillendofthePeriodfromactualcontroller,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 |
| ShenzhenAgriculturalPower | Othercommitments | RelevantCommitmentsRegardingtheExistenceofFlawsinLeasedProperty:TheleasedhousepropertyofShenzhenCerealsGroupanditsholdingsubsidiarieshasthefollowingconditions:(1)Thelessorhasnotprovidedtheownershipdocumentaryevidenceofthepropertyand/orthedocumentaryevidenceprovingthelessorhastherighttorentoutthehouseproperty.(2)Theleasetermofpartoftheleasedhousepropertyismorethan20years;(3)ShenzhenCerealsGroupandits | 2018-03-23 | Implementaspromised | Normalperformance |
| subsidiariessubletpartoftheleasedhousepropertytoathirdpartywithouttheconsentofthelessor;(4)TheleasedhousepropertyofShenzhenCerealsGroupanditsholdingsubsidiaryhasnotbeenregisteredforthehousinglease.IfShenzhenCerealsGroupanditsholdingsubsidiariesareimposedanyformofpunishmentbytherelevantgovernmentdepartmentsorassumeanyformoflegalresponsibility,orsufferfromanylossesorexpensesbecausetheirleasedplaceand/orhousepropertydonotcomplywithrelevantlawsandregulations,thecommitmentpartywillbewillingtobearanylosses,damages,claims,costsandexpensesincurred,sufferedandassumedbyShenzhenCerealsGroupanditsholdingsubsidiaries,andprotectShenzhenCerealsGroupanditsholdingsubsidiariesfromdamages.Inaddition,thecommitmentpartywillsupportShenzhenCerealsGroupanditsholdingsubsidiariestoactivelyadvocatetheirrightsagainstthecorrespondingpartiesinordertosafeguardandprotecttheinterestofShenzhenCerealsGroupandthelistedcompaniestothemaximumextent. | |||||
| ShenzhenAgriculturalPower | Othercommitments | CommitmentLetteronFlawsinHousePropertyandLand:InthecasethatsomeofthehousepropertiesheldbyShenzhenCerealsGroupfailtorenametheobligeeofthepropertyownershipcertificate,thecommitmentpartywillfullyassist,urgeandpromoteShenzhenCerealsGrouporitssubsidiariestogothroughtheformalities.Afterthecompletionofthisreorganization,ifShenzhenCerealsGrouporthelistedcompanyiscalledtoaccount,receivesadministrativepunishmentorsuffersanylossesduetothefailuretorenametheobligeeofthepropertyownershipcertificate,thecommitmentpartywillbeartherelevantlegalliability,andfully | 2018-03-23 | Implementaspromised | Normalperformance |
| appliedforlanduserightcertificates,thecommitmentpartywillfullyassist,urgeandpromotethesubsidiaryofShenzhenCerealsGrouptomanagetheapplicationproceduresofthecorrespondinglanduserightcertificates.Afterthecompletionofthereorganization,ifShenzhenCerealsGrouporthelistedcompanyiscalledtoaccount,receivesadministrativepunishmentorsuffersanylossesbecausethelanduserightcertificatecannotbeissuedduetoanyownershipdisputesintheabove-mentionedlanduseright,thecommitmentpartywillbeartherelevantlegalliability,andfullycompensatethelistedcompanyandShenzhenCerealsGroupwithin30workingdaysaftertheactuallossoccurs.IfShenzhenCerealsGroupanditsholdingsubsidiariesarerequiredtotakebackthesitesand/orpropertiesorimposedanyformofpunishmentbytherelevantgovernmentdepartmentsorassumeanylegalliability,orsufferanylossesorexpensesarisingfromthemodificationforflawsinsitesand/orpropertiesastheabove-mentionedandotherself-ownedorleasedsitesand/orpropertiesfailtocomplywiththerelevantlawsandregulations,thecommitmentpartywillassumeanylosses,damages,claims,costsandexpensesincurred,sufferedandassumedbyShenzhenCerealsGroupanditsholdingsubsidiaries,andprotectthelistcompaniesandShenzhenCerealsGroupfromdamages.Inaddition,thecommitmentpartywillsupportthecompanyanditsholdingsubsidiariestoactivelyadvocatetheirrightsagainstthecorrespondingpartiesinordertosafeguardandprotecttheinterestofthecompanyanditsholdingsubsidiariestothemaximumextent. | |||||
| ShenzhenAgriculturalPower | Othercommitments | CommitmentLetterontheCompany’sSystemReformandSystemEvaluationof | 2018-03-23 | Implementaspromised | Normalperformance |
| Group | ShenzhenCerealsGroupin1998:Afterthecompletionofthisrestructuring,ifShenzhenCerealsGrouporthelistedcompanyiscalledtoaccount,receivesadministrativepunishmentorsuffersanylossesasthesystemreformisnotevaluatedorotherreasonsrelatedtothisreform,thecommitmentpartywillbeartherelevantlegalliability,andfullycompensatethelistedcompanyandShenzhenCerealsGroupwithin30workingdaysaftertheactuallossoccurs. | ||||
| ShenzhenAgriculturalPower | Othercommitments | CommitmenttoMaintainthePositionofControllingShareholdersofListedCompanies:Within60monthsfromthedateofcompletionofthistransaction,theCompanypromisesnottovoluntarilygiveupthecontrollingshareholderstatusinthelistedcompany,andguaranteesthatthecontrollingshareholderstatusofthelistedcompanywillnotbechangedduetoreasonsoftheCompanyduringthisperiod,norassistsanyotherpartytoseekthecontrollingshareholderstatusofthelistedcompany.Within60monthsfromthedateofcompletionofthistransaction,theCompanywillnottaketheinitiativetochangethestatusofthecontrollingshareholderofthelistedcompanythroughanyactionsincludingreducingtheshareholdinginthelistedcompany. | 2018-03-23 | 2023-11-12 | Normalperformance |
| ShenzhenAgriculturalPower | Othercommitments | Commitmentonthepublicshares:Afterthecompletionofthetransaction,thecommitmentpartywillcautiouslynominatedirectorsandsupervisors,andwillnotnominatecandidatesfordirectors,supervisorsandseniormanagementtothelistedcompanythatwillcausetheproportionofpublicsharesofthelistedcompanynotmeettherequirementsoftheListingRulesofShenzhenStockExchange.;norwillvotefortherelevantshareholders’meetingand/orboardresolutionsfor | 2018-03-23 | Implementaspromised | Normalperformance |
| selectingdirectors,supervisorsandseniorexecutivesoflistedcompaniesthatwillmaketheproportionofpublicsharesoflistedcompaniesnotmeettherequirementsoftheListingRulesofShenzhenStockExchange. | |||||
| ShenzhenAgriculturalPower | Othercommitments | CommitmentletterofShenzhenFoodMaterialsGroupCo.,LtdonpendinglitigationofShenzhenCerealsGroupCo.,Ltd.:ShenzhenShenbaoIndustrialCo.,Ltd.(hereinafterreferredtoas“Shenshenbao”,“ListedCompany”)intendstopurchasethe100%equityofShenzhenCerealsGroupCo.,Ltd.(hereinafterreferredtoas“SZCG”,“targetcompany”)heldbytheshareholdersofSZCGthroughissuanceofshares.Inviewofthetwounfinishedmajorlawsuits/arbitrationofSZCG,ShenzhenFoodMaterialsGroupCo.,Ltd(hereinafterreferredtoas“thecommitmentparty”),thecontrollingshareholderofSZCG,hasmadethefollowingcommitments:IfSZCGanditscontrollingsubsidiariessufferanyclaims,compensation,lossesorexpensesduetotheunsettledmajorlawsuits/arbitrationaboutthecontractdisputeofinternationalsaleofsoybeanwithNobleResourcesCo.,Ltd.andthecontractdisputewithGuangzhouJinheFeedCo.,Ltd.andHuangxianningImportAgent,thecommitmentpartywillassumethecompensationorlosscausedbytheabovetwooutstandingmajorlawsuits/arbitration. | 2018-04-02 | Implementaspromised | Normalperformance |
| ShenzhenAgriculturalPower | Othercommitments | CommitmentletterofShenzhenFoodMaterialsGroupCo.,Ltd.onrisksofmakingasupplementarypaymentfortherentatearlierstageofPinghuGrainDepot:ShenzhenShenbaoIndustrialCo.,Ltd.intendstopurchasethe100%equityofShenzhenCerealsGroupCo.,Ltd.(hereinafterreferredtoas“SZCG”)heldbytheshareholdersofSZCG | 2018-04-02 | Implementaspromised | Normalperformance |
| throughissuanceofshares.ShenzhenFoodMaterialsGroupCo.,Ltd.(hereinafterreferredtoas“thecommitmentparty”),thecontrollingshareholderofSZCG,hasmadethefollowingcommitments:IfSZCGneedstomakeasupplementarypaymentfortherentbeforeassessmentbasisdatetothepropertyrightunitofPinghuGrainDepot(oritsauthorizedunit),thetotalamountoftherentandotherrelatedchargesandexpensesshallbebornebythecommitmentparty. | |||||
| ShenzhenAgriculturalPower | Othercommitments | CommitmentletteronthehousepropertiesofShenzhenCerealsGroupanditssubsidiariesthathavenotobtainedthehousingownershipcertificate:ShenzhenShenbaoIndustrialCo.,Ltd.(hereinafterreferredtoas“Shenshenbao”and“listedcompany”)intendstopurchasethe100%equityofShenzhenCerealsGroupCo.,Ltd.(hereinafterreferredtoas“SZCG”,“targetcompany”)heldbytheshareholdersofSZCGthroughissuanceofshares.ShenzhenFoodMaterialsGroupCo.,Ltd(hereinafterreferredtoas“thecommitmentparty”),thecontrollingshareholderofSZCG,hasmadethefollowingcommitments:IfSZCGanditssubsidiariessufferanyadministrativepunishmentorlossesduetotheirhousepropertieswithoutthehousingownershipcertificate,thecommitmentpartywillbeartherelevantlegalresponsibilitiesandfullycompensatethelistedcompanyandSZCGwithin30workingdaysaftertheactuallossoccurs. | 2018-04-02 | Implementaspromised | Normalperformance |
| ShenzhenAgriculturalPower | Commitmentonrestrictedsaleofshares | CommitmentonShenzhenFoodMaterialsGroupCo.,Ltdtoaccepttherestrictedsharesofnon-tradablesharesreformofShenzhenShenbaoIndustrialCo.,Ltd.heldbyShenzhenInvestmentHoldingsCo.,Ltd.:ShenzhenFoodMaterialsGroupCo.,Ltd(hereinafterreferredtoas“Food | 2018-04-04 | Implementaspromised | Normalperformance |
| MaterialsGroup”)accepts79,484,302sharesofAsharesofShenshenbaoA(000019)(including66,052,518sharesofunrestrictedAsharesand13,431,784sharesofrestrictedAshares)heldbyShenzhenInvestmentHoldingsCo.,Ltd.(hereinafterreferredtoas“ShenzhenInvestmentHoldings”)bythefreetransfer,totallyaccountingfor16%ofthetotalsharecapitalofShenshenbao.ShenzhenInvestmentHoldingsmadethefollowingcommitmentsinthereformofnon-tradablesharesofShenshenbaoin2006:“Tomakeeffectiveandlong-termincentivesforthemanagement,afterthecompletionofthesharereform,ShenzhenAgriculturalProductsCo.,Ltd.(hereinafterreferredtoas“AgriculturalProducts”)andShenzhenInvestmentHoldings,thecompany’snon-tradableshareholders,willselltheirshareholdingsafterconsiderationwhichaccountfor6%-8%ofthecompany’stotalsharecapitaltothemanagementofthecompanyinthreeyearsbasedontheshareholdingratioofAgriculturalProductsandShenzhenInvestmentHoldingsafterthesharereform(i.e.accountingfor6%-8%ofthecompany’stotalsharecapitalof181,923,088sharesafterthesharereform).”FoodMaterialsGroupmadeacommitmentthatafterthecompletionofthefreetransferofthestate-ownedshares,FoodMaterialsGroupwouldcontinuetoperformtheabovecommitmentsitmadewhenShenzhenInvestmentHoldingsmakesthenon-tradablesharesreformtoShenshenbao,whichiseffectiveinthelongrun. | |||||
| ShenzhenAgriculturalPower | Commitmentsoninter-industrycompetition,relatedtransactionsandcapital | CommitmentLetteronAvoidingHorizontalCompetition:InviewofthefactthatShenzhenShenbaoIndustrialCo.,Ltd.(hereinafterreferredtoas“ListedCompany”)intends | 2018-06-08 | Implementaspromised | Normalperformance |
| occupancy | toacquire100%equityofShenzhenCerealsGroupCo.,Ltd.heldbyShenzhenFoodMaterialsGroupCo.,Ltd(hereinafterreferredtoas“theCompany”)byissuingsharestopurchaseassets,theCompanyhasmadethefollowingcommitments:1.AsoftheissuedateofthisCommitmentLetter,theCompanyandotherenterprisescontrolledbytheCompanyhavenotengagedinanybusinessoractivitythatdirectlyorindirectlyconstitutehorizontalcompetitiontotheListedCompanyanditssubsidiariesinthebusiness,andguaranteesthatitwillnotengageorinduceanyenterprisecontrolledbytheCompanytoengageinanybusinessoractivitythatdirectlyorindirectlyconstitutehorizontalcompetitiontotheListedCompanyanditssubsidiariesinthefuture.2.IfthebusinessopportunityobtainedbytheCompanyandotherenterprisescontrolledbytheCompanyconstituteshorizontalcompetitionormayconstitutehorizontalcompetitiontothemainbusinessoftheListedCompanyanditssubsidiaries,theCompanywillimmediatelynotifytheListedCompanyandtryitsbesttogivethebusinessopportunitytotheListedCompanytoavoidhorizontalcompetitionorpotentialhorizontalcompetitionwiththeListedCompanyanditssubsidiariesandensuretheinterestsofListedCompanyandothershareholdersofListedCompanyarenotimpaired.3.IfthemainbusinessoftheListedCompanyanditssubsidiariesconstituteshorizontalcompetitionormayconstitutehorizontalcompetitiontotheCompanyandotherenterprisescontrolledbytheCompanyduetobusinessdevelopmentorextension,theCompanyandotherenterprisescontrolledbytheCompanyshalltakethefollowing |
| feasiblemeasuresbasedonspecificcircumstancetoavoidcompetitionwiththeListedCompany:(1)StopbusinessthatconstitutescompetitionormayconstitutecompetitiontotheListedCompany;(2)TransferthecompetitivebusinessesandassetstotheListedCompanyatfairprices;(3)Transferthecompetitivebusinesstoanunrelatedthirdparty;(4)OtherwaystoprotecttheinterestsoftheListedCompany;4.IftheCompanyviolatestheabovecommitmentsandcauseslossestotheListedCompany,theCompanywillcompensatetheListedCompanyfortheincurredlossesafterthelossesaredetermined.5.TheabovecommitmentscontinuetobevalidduringtheperiodwhentheCompanyisthecontrollingshareholderoftheListedCompany. | |||||
| ShenzhenAgriculturalPower | 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,fulfillinformationdisclosure | 2018-06-08 | Implementaspromised | Normalperformance |
| obligationsandhandlerelevantapprovalproceduresinaccordancewiththelaw,andensurenottodamagethelegitimaterightsandinterestsofthecompanyandothershareholdersthroughrelatedtransactions.2.TheenterprisesdirectlyorindirectlycontrolledoraffectedbytheCompanywillstrictlyavoidborrowingfromthecompanyanditsholdingandshareholdingcompanies,occupyingthefundsofthecompanyanditsholdingandshareholdingcompanies,orembezzlingthecompany’sfundsbytakingadvancepaymentsandcompensatorydebtsfromthecompanyanditsholdingandshareholdingcompanies.3.Afterthecompletionofthistransaction,theCompanywillcontinuetoexerciseitsshareholderrightsinstrictaccordancewiththerelevantlawsandregulations,regulatorydocumentsandtherelevantprovisionsoftheArticlesofAssociation;andfulfillitsobligationofavoidingvotingwhenthecompany’sgeneralmeetingofshareholdersisvotingonrelatedtransactionsinvolvingtheCompany.4.TheCompanyguaranteesnottoobtainanyimproperintereststhroughtherelatedtransactionsorcausethecompanyanditsholdingandshareholdingcompaniestobearanywrongfulobligations.Ifthecompanyoritsholdingandshareholdingcompaniessufferlosesortheinterestsofthecompanyoritsholdingandshareholdingcompaniesareembezzledbyrelatedtransactions,theCompanywillthelossesofthecompanyanditsholdingandshareholdingcompanies. | |||||
| ShenzhenAgriculturalPower | Othercommitments | CommitmentontheStandardizedOperationofListedCompany:ShenzhenShenbaoIndustrialCo.,Ltd.intendstopurchase100%equityofShenzhenCerealsGroupCo.,Ltd.(hereinafterreferredtoas“SZCG”)heldbyShenzhenFoodMaterialsGroupCo.,Ltd(hereinafter | 2018-06-08 | Implementaspromised | Normalperformance |
| independentdirectorscanperformtheirdutiesinaccordancewithlawsandregulationsduringtheiremployment,activelyunderstandthevariousoperationsofthelistedcompany,consciouslyperformresponsibilities,playapositiveroleinthescientificdecision-makingoftheboardofdirectorsandthedevelopmentofthelistedcompany,promotethesounddevelopmentofthelistedcompany,andeffectivelysafeguardtheoverallinterestsofthelistedcompanyandtheinterestsofsmallandmedium-sizedshareholders.Inaddition,theCompanywillurgethelistedcompanytogivefullplaytothepositiveroleofindependentdirectorsinregulatingtheoperationofthecompany,strictlyabidebyrelevantnationallaws,regulations,rulesandrelevantprovisionsoftheArticlesofAssociationtoselectindependentdirectors,andfurtherenhancecorporategovernance. | |||||
| ShenzhenAgriculturalPower | 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,consentsandauthorizationsandlicenses | 2018-06-08 | Implementaspromised | Normalperformance |
| transferofownershipofthecompany,suchaslitigation,arbitration,judicialenforcement,etc.,andthereisnoexternalguaranteethatviolatesthelaworthearticlesofassociation.Afterthisreorganization,iftheCompanyviolatestheabovecommitmentsandcauseslossestoShenshenbaoandtheTargetCompany,theCompanyagreestobeartheaforementionedcompensation/liabilityfordamagetoShenshenbao/TargetCompany. | |||||
| ShenzhenAgriculturalPower | Othercommitments | CommitmentontheIndependenceofListedCompany:InviewofthefactthatShenzhenShenbaoIndustrialCo.,Ltd.(hereinafterreferredtoas“Shenshenbao”)intendstoacquire100%equityofShenzhenCerealsGroupCo.,Ltd.(hereinafterreferredtoas“TargetCompany”)heldbyShenzhenFoodMaterialsGroupCo.,Ltd(hereinafterreferredtoas“theCompany”)byissuingsharestopurchaseassets,theCompanyhasmadethefollowingcommitments:1.GuaranteetheindependenceofthepersonnelofShenshenbaoandtheTargetCompany(1)Guaranteethatthelabor,personnelandcompensationmanagementofShenshenbaoandTargetCompanyarecompletelyindependentoftheCompanyandothercompaniesandenterprisescontrolledbytheCompanyorothereconomicorganizationsandrelatedpartiesafterthecompletionofthisrestructuring.(2)GuaranteethattheseniormanagementpersonnelofShenshenbaoandTargetCompanyarefullyemployedinShenshenbaoandTargetCompanyandreceiveremunerationafterthecompletionofthisrestructuring,anddonotholdanypostexceptfordirectorsandsupervisorsintheCompanyandothercompanies,enterprisescontrolledbytheCompanyorothereconomicorganizationsandrelated | 2018-06-08 | Implementaspromised | Normalperformance |
| restructuring,thefinancialpersonnelofShenshenbaoandTargetCompanyshallnottakepart-timejobsintheCompanyandothercompaniesandenterprisescontrolledbytheCompanyorothereconomicorganizationsandrelatedparties.(4)Afterthecompletionofthisrestructuring,ShenshenbaoandTargetCompanyshallbeabletomakefinancialdecisionsindependently,theCompanyshallnotinterferewiththeuseoffundsofShenshenbaoandTargetCompany.(5)Afterthecompletionofthisrestructuring,ShenshenbaoandTargetCompanyshallpaytaxesindependentlyaccordingtolaw.IftheCompanyviolatestheabovecommitments,itwillbearallthelossescausedtoShenshenbaoandTargetCompany. | |||||
| ShenzhenAgriculturalPower,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,nor | 2018-06-08 | Implementaspromised | Normalperformance |
| requirethelistedcompanytoprovideillegalguaranteeforthecommitmentpartyanditsrelatedpersonunderanycircumstances,norengageinanyacttodamagethelegitimaterightsandinterestsofthelistedcompanyandothershareholders.Ifthecommitmentpartyviolatestheabovecommitments,itwillbearalllossescausedtothelistedcompanyandthetargetcompanyandothercompaniesandenterprisescontrolledbythemorothereconomicorganizations. | |||
| Completedontime(Y/N) | Y | ||
2.ForassetsorprojectsoftheCompanywhichkeepsprofitableforecastduringthereportingperiod,descriptionreasonsforreachingtheoriginalprofitableforecast
□Applicable?Notapplicable
II.Non-operationalfundoccupationbycontrollingshareholdersanditsrelatedparty
□Applicable?NotapplicableNonon-operationalfundoccupationbycontrollingshareholdersanditsrelatedpartyinperiod.
III.Externalguaranteeoutofregulations
□Applicable?NotapplicableNoexternalguaranteeoutoftheregulationsoccurredintheperiod.
IV.Statementonthelatest“modifiedauditreport”byBOD
□Applicable?NotapplicableV.ExplanationfromBoardofDirectors,theboardofsupervisorsandIndependentDirectors(ifapplicable)for“QualifiedAuditOpinion”issuedbyCPA
□Applicable?Notapplicable
VI.Explanationofthechangesinaccountingpolices,accountingestimatesorcorrectionofsignificantaccountingerrorscomparedwiththefinancialreportofthepreviousyear?Applicable□Notapplicable①InterpretationofEnterpriseAccountingStandardsNo.16
TheMinistryofFinanceissuedInterpretationNo.16oftheAccountingStandardsforEnterprises(CK[2022]No.31)inNovember2022(hereinafterreferredtoas“InterpretationNo.16”).InterpretationNo.16stipulatesthat,forasingletransactionthatisnotabusinessmerger,doesnotaffectaccountingprofitsortaxableincome(ordeductiblelosses)atthetimeoftransaction,andresultsinequaltaxabletemporarydifferencesanddeductibletemporarydifferencesduetotheinitialrecognitionofassetsandliabilities,thecorrespondingdeferredincometaxliabilitiesanddeferredincometaxassetsshallberecognizedseparatelyatthetimeoftransactioninaccordancewithrelevantprovisionssuchasEnterpriseAccountingStandardNo.18-IncomeTax.Fortheabove-mentionedtransactionsthatoccurredbetweenthebeginningoftheearliestperiodforthefirstimplementationoftheaboveregulationsinfinancialstatementpresentationandthedateofimplementationofthisinterpretation,theenterpriseshalladjustthecumulativeimpacttothebeginningretainedearningsandotherrelatedfinancialstatementitemsintheearliestperiodforfinancialstatementpresentationinaccordancewiththeaboveregulations.TheaboveaccountingtreatmentregulationswillbeimplementedfromJanuary1,2023.Iftheleasingliabilitiesandrightofuseassetsrecognizedbythecompanyforleasingbusiness,aswellastheestimatedliabilitiesandcorrespondingassetsrelatedtoabandonmentobligations,resultintaxabletemporarydifferencesanddeductibletemporarydifferences,adjustmentsshallbemadeinaccordancewiththeprovisionsofInterpretationNo.16.TheimpactofimplementingtheaboveaccountingpoliciesontheconsolidatedbalancesheetasofDecember31,2023andtheconsolidatedincomestatementfortheyear2023isasfollows:
| Itemsofconsolidatedbalancesheet(Dec.31,2023) | Impactamount |
| Deferredincometaxassets | 54,748.68 |
| Deferredincometaxliabilities | 29,036.59 |
| Retainedincome | 25,712.09 |
Con’:
| Itemsofconsolidatedprofitstatement(2023) | Impactamount |
| Incometaxexpense | -122,885.51 |
| Netprofit | 122,885.51 |
TheimpactofimplementingtheaboveaccountingpoliciesontheconsolidatedbalancesheetasofDecember31,2022andtheconsolidatedincomestatementfortheyear2022isasfollows:
| Itemsofconsolidatedbalancesheet(Dec.31,2022) | Beforeadjustment | Adjustmentamount | Afteradjustment |
| Deferredincometaxassets | 40,240,466.35 | 154,697.65 | 40,395,164.00 |
| Deferredincometaxliabilities | 13,381,949.47 | 6,100.06 | 13,388,049.53 |
| Retainedincome | 1,910,954,084.79 | 148,597.59 | 1,911,102,682.38 |
Con’
| Itemsofconsolidatedprofitstatement(2022) | Beforeadjustment | Adjustmentamount | Afteradjustment |
| Incometaxexpense | 52,611,993.87 | -169,799.76 | 52,442,194.11 |
| Netprofit | 418,298,868.22 | 169,799.76 | 418,468,667.98 |
TheimpactofimplementingtheaboveaccountingpoliciesontheconsolidatedbalancesheetasofJanuary1,2022isasfollows:
| Itemsofconsolidatedbalancesheet(Jan.1,2022) | Beforeadjustment | Adjustmentamount | Afteradjustment |
| Itemsofconsolidatedbalancesheet(Jan.1,2022) | Beforeadjustment | Adjustmentamount | Afteradjustment |
| Deferredincometaxassets | 40,529,425.47 | 11,342.55 | 40,540,768.02 |
| Deferredincometaxliabilities | 13,868,191.82 | 32,544.72 | 13,900,736.54 |
| Retainedincome | 1,812,541,701.27 | -21,202.17 | 1,812,520,499.10 |
②Thecumulativeimpactofchangesinaccountingpoliciesinthisperiod
| Impacteditems | Currentperiod | Lastperiod |
| Beginningnetassets | -21,202.17 | |
| Including:retainedincome | -21,202.17 | |
| Netprofit | 169,799.76 | -21,202.17 |
| Endingnetassets | 148,597.59 | |
| Including:retainedincome | 148,597.59 |
VII.Comparewithlastyear’sfinancialreport;explainchangesinconsolidationstatement’sscope?Applicable□NotapplicableTherewerenochangesinthescopeofconsolidatedfinancialstatementsduringthereportingperiodofthecompany.
VIII.AppointmentanddismissalofCPA
Accountingfirmappointed
| Nameofdomesticaccountingfirm | GrantThorntonCertifiedPublicAccountantLLP(SpecialGeneralPartnership) |
| Remunerationfordomesticaccountingfirm(in10thousandYuan) | 70 |
| Continuouslifeofauditingservicefordomesticaccountingfirm | 1 |
| NameofdomesticCPA | GaoHong,WangZhongnian |
| ContinuouslifeofauditingservicefordomesticCPA | 1 |
Whetherre-appointedaccountingfirmsinthisperiodornot??Yes?NoWhethertohireanewaccountingfirmduringtheauditperiod？
□Yes?NoDoesthereplacementofaccountingfirmfollowtheapprovalprocess？?Yes?NoDetailedexplanationonthesituationregardingthechangeofappointmentorchangeofaccountingfirm.Thecompanyheldthesecondmeetingofthe11
th
sessionoftheBoardofDirectorsandthethirdextraordinarygeneralmeetingofshareholdersonNovember24,2023,andDecember21,2023,respectively,deliberatingandapprovedtheProposaltoHireAccountingFirmfortheYear2023.TheannualauditinstitutionofthecompanywaschangedfromBDOChinaShuLunPanCertifiedPublicAccountantLLPtoGrantThorntonCertifiedPublicAccountantLLP(SpecialGeneralPartnership).ThecompanyhadnecessarycommunicationwithBDOChinaShuLunPanCertifiedPublicAccountantLLPonrelatedmatters.BDOChinaShuLunPanCertifiedPublicAccountantLLPhasnoobjection.
Appointmentofinternalcontrolauditingaccountingfirm,financialconsultantorsponsor?Applicable□NotapplicableIX.Particularaboutdelistingafterannualreportdisclosed
□Applicable?NotapplicableX.Bankruptcyreorganization
□Applicable?NotapplicableNobankruptcyreorganizationfortheCompanyinreportingperiod
XI.SignificantlawsuitsandarbitrationoftheCompany
?Applicable□Notapplicable
| Lawsuits(arbitration) | Amountinvolved(in10thousandyuan) | Resultinginanaccrualliability(Y/N) | Progress | Trialresultandinfluence | Executionofjudgment | Disclosuredate | Disclosureindex |
| Asof31December2022,otherlawsuitsthatdidnotmeetthedisclosurestandardsforsignificantlawsuitsmainlyincludeddisputesoversalescontracts,loancontracts,constructioncontracts,legalservicecontracts,leasecontracts,etc. | 10,014.95 | Yes,thesingleloancontractdisputefromsubordinateenterpriseoftheCompanyisexpectedtoformanaccrualliabilityof5,136,600.00yuanapproximately.Otherlawsuit-relatedcasesarerelativelysmallinindividualamount,andwillnothaveasignificantimpactontheCompanywhenanalyzedinconjunctionwiththeprogressofthesecases. | TheCompanyactivelymakesuseoftheadvantageousresourcesofinternallegalaffairsandexternallawsfirmtofollowupanddealwiththelawsuit-relatedcases.Atpresent,theCompanyisrespondingtoanddealingwiththecaseseffectivelyinaccordancewithrelevantlawsandregulations | Aftercomprehensiveanalysis,theresultofthecasesinvolvedinthelawsuitswillnothaveasignificantimpactontheCompany | Itisactivelyadvancing | -- |
XII.Penaltyandrectification
□Applicable?NotapplicableNopenaltyandrectificationfortheCompanyinreportingperiod.
XIII.IntegrityoftheCompanyanditscontrollingshareholdersandactualcontrollers
□Applicable?Notapplicable
XIV.Majorrelatedtransaction
1.Relatedtransactionwithroutineoperationconcerned
?Applicable?Notapplicable
| Relatedparties | Relatedrelationships | Typeofrelatedpartytransaction | Contentofrelatedpartytransaction | Pricingprinciplesforrelatedpartytransactions | Bookvalueoftransferredassets(10000yuan) | Assessedvalueoftransferredassets(10000yuan) | Transferprice(10000yuan) | Settlementmethodofrelatedpartytransaction | Tradinggains/losses(10000yuan) | Disclosuredate | Disclosureindex |
| ShenzhenLezhongSupplyChainManagementCo.,Ltd | Subsidiarycompanyexecutiveholdingcompany | Acquisitionofminorityequity | Minorityequityacquisition | Marketprice | 154.45 | 167.24 | 167.24 | Banktransfer | |||
| ShenzhenQianmoSupplyChainManagementCo.,Ltd | Theholdingcompanyoftheseniormanagementofthesubsidiaryofthecompany | Acquisitionofminorityequity | Minorityequityacquisition | Marketprice | 154.45 | 167.24 | 167.24 | Banktransfer | |||
| Reasonsforsignificantdifferencesbetweentransferpriceandbookvalueorassessedvalue(ifany) | Appreciationofassessment | ||||||||||
| Theimpactonthecompany'soperatingresultsandfinancialcondition | Nosignificantimpact | ||||||||||
| Iftherelevanttransactionsinvolveperformanceagreements,theachievementofperformanceduringthereportingperiod | Notapplicable | ||||||||||
Therewerenorelatedtransactionsrelatedtodailyoperationsduringthereportingperiodofthecompany.
2.Assetsorequityacquisition,andsalesofassetsandequity
□Applicable?NotapplicableNorelatedtransactionconcerningtheassesorequityacquisitionandsoldintheperiod
3.Relatedtransactionofforeigninvestment
□Applicable?NotapplicableNorelatedtransactionofforeigninvestmentoccurredintheperiod
4.Relatedcreditsandliabilities
□Applicable?NotapplicableNorelatedcreditsandliabilitiesoccurredinperiod
5.Contactwiththerelatedfinancecompanies
□Applicable?NotapplicableTherearenodeposits,loans,creditsorotherfinancialbusinessbetweenthefinancecompanieswithassociatedrelationshipandrelatedparties
6.TransactionsbetweenthefinancecompanycontrolledbytheCompanyandrelatedparties
□Applicable?NotapplicableTherearenodeposits,loans,creditsorotherfinancialbusinessbetweenthefinancecompaniescontrolledbytheCompanyandrelatedparties
7.Othermajorrelatedtransaction
□Applicable?NotapplicableNoothermajorrelatedtransactioninthePeriod.
XV.Significantcontractandimplementations
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 | Impairmentamountaccrualforoverduefinancialmanagement |
| Bankfinancialproducts | Ownedfund | 53,000 | 3,000 | 0 | 0 |
| Total | 53,000 | 3,000 | 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)OnSeptember11,2023,theboardofdirectorsofthecompanyreceivedawrittenresignationreportfromMr.MengXiaoxian,amemberofthecompany’spartycommitteeanddeputyGM.Duetojobtransfer,Mr.MengXiaoxianappliedtoresignfromthepositionofdeputyGMandwillnolongerholdanyotherpositionsinthecompanyafterresigning.Pleaserefertothe“NoticeontheResignationofSeniorManagementPersonneloftheCompany”publishedonSeptember13,2023onthewebsiteofJuchaoWebsite(www.cninfo.com.cn).
(2)OnSeptember15,2023,thecompany’ssupervisoryboardreceivedawrittenresignationreportfromMs.WangHuimin,SecretaryoftheDisciplineInspectionCommissionandChairmanoftheSupervisoryBoard.Duetojobtransfer,Ms.WangHuiminappliedtoresignfromherpositionastheChairmanoftheSupervisoryBoardandwillnolongerholdanyotherpositionsinthecompanyafterresigning.Pleaserefertothe“NoticeoftheCompanyontheResignationoftheChairmanoftheSupervisoryBoard”
publishedonSeptember19,2023,ontheJuchaowebsite(www.cninfo.com.cn).
(3)ThesecondextraordinarygeneralmeetingofshareholdersheldbythecompanyonNovember3,2023deliberatedandapprovedtheProposalontheElectionofNon-independentDirectorsfortheBoardofDirectors,theProposalontheElectionofIndependentDirectorsfortheBoardofDirectors,andtheProposalontheElectionoftheBoardofSupervisors.Mr.WangZhikai,Mr.HuXianghai,Mr.GuCheng,Mr.ZhangGuoyuan,Mr.ZhengXiangpeng,andMs.LuYuhewereelectedasthe11
thsessionofnon-independentdirectorsofthecompany;ElectedMr.ZhaoRubing,Ms.BiWeimin,andMr.LiuHaifengasthe11
thsessionofindependentdirectorsofthecompany;ElectedMs.YouHongxiaandMs.LiuXinqingasthe11
th
sessionofsupervisorofthecompany.Ms.NiYue,the10
thsessionofdirectorofthecompany,Mr.LiuJiandMsQianWenying,the10
th
sessionofsupervisor,resignedupontheexpirationoftheirtermsofoffice.PleaserefertotheAnnouncementontheResolutionoftheSecondExtraordinaryGeneralMeetingofShareholdersoftheCompanyfor2023,whichwaspublishedonNovember4,2023onJuchaoWebsite(www.cninfo.com.cn).
(4)Thefirstmeetingofthe11
thsessionofBoardofDirectorsheldbythecompanyonNovember3,2023deliberatedandapprovedtheProposalonElectingtheChairmanofthe11thSessionofBoardofDirectors,theProposalonAppointingtheGeneralManageroftheCompany,theProposalonAppointingSeniorManagementPersonneloftheCompany,andtheProposalonElectingMembersoftheSpecialCommitteesofthe11
thSessionofBoardofDirectors.ElectedMr.WangZhikaiastheChairmanofthe11thsessionBoardofDirectorsofthecompany;AppointedMr.HuXianghaiasthe11
thsessionofGeneralManagerofthecompany;AppointedMr.ChenXiaohua,Mr.ShenHua,Mr.XiaoHui,andMr.DuJianguoasthe11thsessionofdeputyGMofthecompany;AppointedMs.LuYuheasthe11
th
sessionofchieffinancialofficerofthecompany;AppointedMr.ChenXiaohuaasthesecretaryofthe11
th
sessionofBoardofDirectorsofthecompany;Mr.DaiBin,the10thsessionofdeputyGMofthecompany,resignedupontheexpirationofhisterm.ElectedMr.WangZhikai,Mr.ZhaoRubing,andMr.GuChengasmembersoftheStrategicCommitteeofthe11thsessionofBoardofDirectorsofthecompany,andelectedMr.WangZhikaiastheChairman;ElectedMr.ZhaoRubing,Mr.WangZhikai,andMr.LiuHaifengasmembersoftheNominationCommitteeforthe11thsessionofBoardofDirectorsofthecompany,withMr.ZhaoRubingservingastheChairman;ElectedMs.BiWeimin,Mr.ZhaoRubing,andMr.ZhangGuoyuanasmembersoftheAuditCommitteeofthe11
th
sessionofBoardofDirectorsofthecompany,withMs.BiWeiminservingastheChairman;ElectedMr.ZhaoRubing,Ms.BiWeimin,andMs.LuYuheasmembersofthe11
th
sessionofBoardofDirectorsCompensationandAssessmentCommittee,withMr.ZhaoRubingservingastheChairman.PleaserefertotheAnnouncementontheResolutionoftheFirstMeetingofthe11
th
sessionofBoardofDirectorsoftheCompany,whichwaspublishedonNovember4,2023onJuchaoWebsite(www.cninfo.com.cn).XVII.SignificanteventofsubsidiaryoftheCompany?Applicable?Notapplicable
1.OnApril24,2023,thecompanyheldthe27
thmeetingofthe10
th
sessionofBoardofDirectors,deliberatingandapprovingtheProposalontheInvestmentintheConstructionofBerth3byDongguanShenliangLogisticsCo.,Ltd..ItwasagreedthatDongguanShenliangLogisticsCo.,Ltd.,awholly-ownedsubsidiaryofthecompany,willinvestintheconstructionoftheexpansionprojectofthedeepgrainstoragesupportingwharfinXinshaSouthOperationAreaofMachongPort,DongguanPort(Berth3project).Theprojectplanstobuildone20,000tongrainberthwithatotalinvestmentof175.00millionyuan.PleaserefertotheAnnouncementoftheResolutionofthe27
th
Meetingofthe10
th
SessionofBoardofDirectorsoftheCompanyandtheAnnouncementoftheCompanyontheInvestmentandConstructionofBerthNo.3byDongguanShenliangLogisticsCo.,Ltd.publishedonApril26,2023onJuchaoWebsite(www.cninfo.com.cn).
2.Thecompanyheldthe29
th
meetingofthe10
th
sessionofBoardofDirectorsonJuly8,2023,andthe31
st
meetingofthe10
th
sessionofBoardofDirectorsonSeptember20,2023,deliberatingandapprovingtheProposalonPubliclyListingandTransferring51%EquityandDebtofWuhanJiachengBiologicalProductsCo.,Ltd.,andapprovingSZCHtotransferits51%equityand10.00
millionyuandebtofWuhanJiachengthroughpubliclistingandtransfer.OnNovember14,2023,SZCHsignedanequitytransferagreementwiththetransfereeTianyuEcologicalEnvironmentCo.,Ltd.Asofnow,SZCHhasreceivedallequity,debt,andrelatedinterest,andhascompletedtheequitydeliveryandhandoverproceduresbetweenenterprises.
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.Domesticallylistedforeignshares | 51,749,280 | 4.49% | 0 | 0 | 0 | 0 | 0 | 51,749,280 | 4.49% |
| 3.Foreignlistedforeignshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 4.Other | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| III.Totalshares | 1,152,535,254 | 100.00% | 0 | 0 | 0 | 0 | 0 | 1,152,535,254 | 100.00% |
Reasonsforchangesinshare
□Applicable?NotapplicableApprovalofchangesinshare
□Applicable?NotapplicableOwnershiptransferofchangesinshare
□Applicable?NotapplicableInfluenceofchangesinshareonbasicEPS,dilutedEPSaswellasotherfinancialindexesofnetassetspershareattributableto
commonshareholdersoftheCompanyinlatestyearandperiod
□Applicable?NotapplicableOtherinformationnecessarytobedisclosedintheviewpointoftheCompanyorthatrequiredtobedisclosedbysecuritiesregulators
□Applicable?Notapplicable
2.Changesinrestrictedshares
□Applicable?NotapplicableII.Securitiesissuanceandlisting
1.Securityoffering(withoutpreferredstock)inthereportingperiod
□Applicable?Notapplicable
2.Changesintotalsharesandshareholdersstructureaswellasexplanationonchangesinassetsandliabilitystructure
□Applicable?Notapplicable
3.Existinginternalstaffshares
□Applicable?NotapplicableIII.ParticularsaboutshareholdersandactualcontrolleroftheCompany
1.Numberofshareholdersandparticularsaboutsharesholding
Unit:Share
| Totalcommonstockshareholdersattheendofreportingperiod | 46,547 | Totalcommonstockshareholdersattheendoflastmonthbeforeannualreportdisclosed | 46,089 | Totalpreferredshareholderswithvotingrightsrecoveredattheendofreportingperiod(ifapplicable)(refertoNote8) | 0 | Totalpreferredshareholderswithvotingrightsrecoveredatendoflastmonthbeforeannualreportdisclosed(ifapplicable)(refertoNote8) | 0 | ||
| Particularsaboutshareholdersholdingmorethan5%sharesofthecompanyortoptenshareholders | |||||||||
| Nameof | Natureof | Proportion | Total | Changesin | Quantityof | Quantityof | Informationofsharespledged, | ||
| Shareholders | shareholder | ofsharesheld | sharesheldattheendofreportingperiod | reportingperiod | restrictedsharesheld | unrestrictedsharesheld | taggedorfrozen | ||
| Stateofshare | Quantity | ||||||||
| ShenzhenFoodMaterialsGroupCo.,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 | 8,698,216 | NA | 0 | |
| LinJunbo | Domesticnatureperson | 0.48% | 5,500,000 | 797,200 | 0 | 5,500,000 | NA | 0 | |
| HongKongSecuritiesClearingCompany | Foreignlegalperson | 0.47% | 5,453,193 | 772,097 | 0 | 5,453,193 | NA | 0 | |
| SunHuiming | Domesticnatureperson | 0.31% | 3,606,652 | 206,690 | 0 | 3,606,652 | NA | 0 | |
| ZhongZhenxin | Domesticnatureperson | 0.29% | 3,295,500 | 0 | 0 | 3,295,500 | NA | 0 | |
| ChenJiuyang | Domesticnatureperson | 0.25% | 2,911,070 | 150,000 | 0 | 2,911,070 | NA | 0 | |
| ShenDanfeng | Domesticnatureperson | 0.18% | 2,044,300 | 2,044,300 | 0 | 2,044,300 | NA | 0 | |
| YangXiangzhe | Domesticnatureperson | 0.13% | 1,516,900 | 1,516,900 | 0 | 1,516,900 | NA | 0 | |
| Strategyinvestorsorgenerallegalpersonbecomingtop10commonshareholdersduetorightsissue(ifapplicable)(seenote3) | N/A | ||||||||
| Explanationonassociatedrelationshipamongtheaforesaidshareholders | ShenzhenSASACdirectlyholds100%equityofShenzhenFoodMaterialsGroupCo.,Ltd.,andholds34%equityofShenzhenAgriculturalProductsGroupCo.,Ltd.indirectlythroughShenzhenFoodMaterialsGroupCo.,Ltd.(nowrenamedintoShenzhenAgriculturalPowerGroupCo.,Ltd.);TheCompanywasnotawareofanyrelatedrelationshipbetweenothershareholdersabove,andwhethertheyarepartiesactinginconcertasdefinedbytheAcquisitionManagementMethodofListedCompany. | ||||||||
| Descriptionoftheaboveshareholdersinvolvedwithdelegating/entrustedvotingrightsandabstentionfromvotingrights. | N/A | ||||||||
| Specialnoteontherepurchaseaccountamongthetop10shareholders(ifapplicable)(seenote10) | N/A | ||||||||
| Particularabouttoptenshareholdersholdingunrestrictedshares | |||||||||
| Shareholders’name | QuantityofunrestrictedsharesheldatPeriod-end | Typeofshares | |||||||
| Type | Quantity | ||||||||
| ShenzhenFoodMaterialsGroupCo.,Ltd | 79,447,462 | RMBcommonshares | 79,447,462 | ||||||
| ShenzhenAgriculturalProductsGroupCo.,Ltd | 66,052,518 | RMBcommonshares | 66,052,518 | |
| DongguanFruit,Vegetable,andNon-stapleFoodTradingMarketCo.,Ltd | 8,698,216 | RMBcommonshares | 8,698,216 | |
| LinJunbo | 5,500,000 | RMBcommonshares | 5,500,000 | |
| HongKongSecuritiesClearingCompany | 5,453,193 | RMBcommonshares | 5,453,193 | |
| SunHuiming | 3,606,652 | RMBcommonshares | 3,606,652 | |
| ZhongZhenxin | 3,295,500 | Domesticallylistedforeignshares | 3,295,500 | |
| ChenJiuyang | 2,911,070 | RMBcommonshares | 2,911,070 | |
| ShenDanfeng | 2,044,300 | RMBcommonshares | 2,044,300 | |
| YangXiangzhe | 1,516,900 | RMBcommonshares | 1,516,900 | |
| Explanationoftheassociationorconcertedactionbetweenthetop10shareholdersofnon-restrictedandtradableshares,aswellasbetweenthetop10shareholdersofnon-restrictedandtradablesharesandthetop10shareholders | ShenzhenSASACdirectlyholds100%equityofShenzhenFoodMaterialsGroupCo.,Ltd.,andholds34%equityofShenzhenAgriculturalProductsGroupCo.,Ltd.indirectlythroughShenzhenFoodMaterialsGroupCo.,Ltd.(nowtrenamedintoShenzhenAgriculturalPowerGroupCo.,Ltd.);TheCompanywasnotawareofanyrelatedrelationshipbetweenothershareholdersabove,andwhethertheyarepartiesactinginconcertasdefinedbytheAcquisitionManagementMethodofListedCompany. | |||
| Explanationontheparticipationofthetop10ordinaryshareholdersinmargintradingandsecuritieslendingbusiness(ifany)(seeNote4) | Attheendofreportingperiod,LinJunbo,ashareholderofthecompany,held5,500,000sharesoftheCompanyundercustomercredittradingsecuredsecuritiesaccountthroughChinaMerchantsSecuritiesCo.,Ltd.,andheld0sharesofthecompanyundercommonaccount,totallyholding5,500,000sharesoftheCompany.Duringthereportingperiod,sharesheldbyLinJunbounderthecredittradingsecuredsecuritiesaccountroseby2,214,300shares,sharesheldbyhimundercommonaccountreducedby1,417,100shares,andsharesheldbyLinJunboroseby797,200shares.Attheendofreportingperiod,ShenDanfeng,ashareholderofthecompany,held2,044,300sharesoftheCompanyundercustomercredittradingsecuredsecuritiesaccountthroughDongfangSecuritiesCo.,Ltd,andheld0sharesoftheCompanyundercommonaccount,totallyholding2,044,300sharesoftheCompany.Duringthereportingperiod,sharesheldbyShenDanfengunderthecredittradingsecuredsecuritiesaccountroseby2,044,300shares,sharesheldbyherundercommonaccountkeptunchanged,andsharesheldbyShenDanfengroseby2,044,300shares. | |||
Thetoptenshareholdersparticipatinginthelendingofsharesthroughrefinancingbusiness
□Applicable?NotapplicableThetoptenshareholdershavechangedcomparedtothepreviousperiod?Applicable□Notapplicable
Inshare
| Changesinthetoptenshareholderscomparedtotheendofthepreviousperiod | |||||
| Fullnameofshareholders | New/existingshareholdersincurrentperiod | Attheendoftheperiod,thenumberofshareslentthroughrefinancingandnotyetrepaid | Thenumberofsharesheldintheordinaryaccountandcreditaccountofshareholdersattheendoftheperiod,aswellastheshareslentthroughrefinancing,thathavenotyetbeenreturned | ||
| Total | Proportionintotalshares | Total | Proportionintotalshares | ||
| ShenDanfeng | New | 0 | 0.00% | 2,044,300 | 0.18% |
| YanXiangzhe | New | 0 | 0.00% | 1,516,900 | 0.13% |
| DengLijun | Existing | 0 | 0.00% | 0 | 0.00% |
| SunLimei | Existing | 0 | 0.00% | 344,400 | 0.03% |
Dotencommonstockshareholdersortoptencommonstockshareholdersofun-restrictshareshaveabuy-backagreementdealinginreportingperiod?
□Yes?No
Thetoptencommonstockshareholdersortoptencommonstockshareholdersofun-restrictsharesoftheCompanyhavenobuy-backagreementdealinginreportingperiod.
2.ControllingshareholderoftheCompany
Natureofcontrollingshareholders:localstate-ownedholdingTypeofcontrollingshareholders:legalperson
| Controllingshareholders | 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. | |||
Changesofcontrollingshareholdersinreportingperiod
□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/foreignlistedcompanycontrolledbyactualcontrollerinreportingperiod | - | |||
Changesofactualcontrollerinreportingperiod
□Applicable?NotapplicableNochangesofactualcontrollersfortheCompanyinreportingperiod.PropertyrightandcontrollingrelationshipbetweentheactualcontrollerandtheCompanyisasfollow
ActualcontrollercontrollingtheCompanybyentrustorotherassetsmanagement
□Applicable?Notapplicable
4.Thetotalnumberofsharespledgedbycontrollingshareholdersorthefirstmajorityshareholderanditspersonsactinginconcertaccountsfor80%ofthesharesheldbythem
□Applicable?Notapplicable
ShenzhenMunicipalPeople’sGovernmentState-ownedAssetsSupervision&AdministrationCommissionShenzhenAgriculturalPowerGroupCo.,Ltd.
ShenzhenAgriculturalPowerGroupCo.,Ltd.ShenzhenCerealsHoldingsCo.,Ltd
ShenzhenCerealsHoldingsCo.,LtdShenzhenAgriculturalProductsGroupCo.,Ltd.
5.Particularsaboutotherlegalpersonshareholderswithover10%sharesheld
□Applicable?Notapplicable
6.Limitationandreducingtheholdingsofsharesofcontrollingshareholders,actualcontrollers,restructuringpartyandothercommitmentsubjects
□Applicable?Notapplicable
IV.Thespecificimplementationofsharesbuy-backduringthereportingperiod
Implementationprogressofsharesbuy-back
□Applicable?NotapplicableProgressinimplementingcentralizedbiddingtradingtoreduceholdingsofrepurchaseshares
□Applicable?Notapplicable
SectionVIII.PreferredStock
□Applicable?NotapplicableTheCompanyhadnopreferredstockinthePeriod.
SectionIX.CorporateBonds
□Applicable?Notapplicable
SectionX.FinancialReport
I.AuditReport
| Typeofauditopinion | Standardunqualifiedopinion |
| Signingdateofauditreport | 2024-04-12 |
| Nameofauditinstitute | GrantThorntonCertifiedPublicAccountantLLP(SpecialGeneralPartnership) |
| Documentserialofauditreport | ZHTSH[2024]No.441A010660 |
| NameoftheCPA | GaoHong,WangZhongnian |
Textofauditingreport
Auditor’sReport
ZHTSH[2024]No.441A010660ToallshareholdersofSHENZHENCEREALSHOLDINGSCO.,LTD.:
1.AuditingopinionsWehaveauditedthefinancialstatementunderthenameofSHENZHENCEREALSHOLDINGSCO.,LTD.(hereinafterreferredtoas“SZCH”),includingtheconsolidatedandparentCompany’sbalancesheetofDecember31,2023andprofitstatement,andcashflowstatement,andstatementonchangesofshareholders’equityfortheyearended,andnotestothefinancialstatementsfortheyearended.Inouropinion,theCompany’sfinancialstatementshavebeenpreparedinaccordancewiththeAccountingStandardsforBusinessEnterprises,andtheyfairlypresentthefinancialstatusoftheCompanyandofitsparentcompanyasofDecember31,2023anditsoperationresultsandcashflowsfortheyearended.
2.BasisofopinionWeconductedourauditinaccordancewiththeAuditingStandardsforCertifiedPublicAccountantsofChina.Ourresponsibilitiesunderthosestandardsarefurtherdescribedinthe“Auditor’sResponsibilitiesfortheAuditoftheFinancialStatements”sectionoftheauditor’sreport.WeareindependentoftheCompanyinaccordancewiththeCertifiedPublicAccountantsofChina’sCodeofEthicsforProfessionalAccountants,andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeCode.Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforouropinion.
3.KeyauditmattersKeyauditmattersarethosemattersthat,inourprofessionaljudgment,wereofmostsignificanceinourauditofthefinancialstatementsofthecurrentperiod.Thesematterswereaddressedinthecontextofourauditofthefinancialstatementsasawhole,andinformingouropinionthereon,andwedonotprovideaseparateopiniononthismatter.Thekeyauditmattersidentifiedinourauditaresummarizedasfollows:
(i)RevenuerecognitionFormoredetailsoftherelevantinformation,pleaserefertoNoteV(37)andNoteVII(43)offinancialstatements.
1.Matterdescription
ThemainbusinessofSZCHincludegrainandoiltradeandprocessingincome,grainandoilwarehousinglogisticsandserviceincome,foodandbeverageandteaprocessingincome,leasingandotherincome.SZCHoperatingrevenuefor2023is619,0005,400.00yuananditisoneofthekeyindexofperformanceofSZCH,whichhasainherentrisksinmanipulationforachievingthepredictedtarget,therefore,theidentificationofoperatingincomewillbelistedasthekeyauditingevent.
2.AuditresponseTheauditprocedureswehaveimplementedforthiskeyauditmattermainlyinclude:
Understand,evaluate,andtestthedesignandoperationaleffectivenessofinternalcontrolrelatedtorevenue;Understandthebusinessmodelsandacceptancetermsofdifferentbusinesses,inspectthemainsalescontracts,identifythetermsrelatedtothetransferofcommoditycontrolrights,andevaluatewhethertherevenuerecognitionpolicycomplieswiththeprovisionsoftheEnterpriseAccountingStandards;Performanalyticalreviewproceduresonoperatingrevenue,analyzechangesinoperatingrevenue,costs,andgrossprofitmarginonamonthlyandproductbasis,identifysignificantorabnormalfluctuations,understandthereasonsforabnormalsituations,andevaluatetheirreasonableness;Searchforbasicinformationofmajorclientsornewlyaddedmajorclientsthroughpublicchannels,conducton-sitevisitstomajorclients,enquireabouttransactioncontent,cooperationmode,transactionamount,acceptanceterms,andrelatedrelationships,andverifytheauthenticityandcommercialsubstanceoftheirtransactions,Focusoncheckingwhethertherearefinancingtradeswithoutrealtransactions;Sampleinspectsupportingdocumentsrelatedtorevenueconfirmation,includingsalescontracts,salesinvoices,outboundorders,transferofownershipdocuments,proofofdelivery,accountingvouchers,etc;Sampletoconfirmthecurrentsalesrevenueandtheinitialandfinalbalancesofaccountsreceivableandpayabletomajorcustomers,newcustomers,etc.;Conductacut-offtestontheoperatingincomeclosetothebalancesheetdate,evaluatewhethertheoperatingincomeisrecordedintheappropriateaccountingperiod.(ii)InventoriesandlossallowanceofinventoriesFormoredetailsofinventoriesandLossallowanceofinventories,pleaserefertoNoteV(17)andNoteVII(10)ofconsolidatedfinancialstatements.
1.MatterdescriptionAsofDecember31,2023,thebookvalueofinventorypresentedontheconsolidatedfinancialstatementsofSZCHwas3,567,711,400.00yuan,andthelossallowanceofinventorieswas109,267,400.00yuan,thecarryingamountofinventorieswas3,458,444,000.00yuan,accountingfor47.01%ofthetotalassets.Duetothesignificantamountofinventories,SZCHmanagement(Hereinafterreferredtoas“management”)neededtomakesignificantjudgmentswhendeterminingthedecreaseinvalueofinventories,includingtheconsiderationofgovernmentreservesuchasasgrain&oil,foodandvegetableoilwhichareaffectedbyfuturesmarket,Theseimportantjudgmentshaveasignificantimpactonthevaluationofinventoriesandlossallowanceofinventoriesatperiod-end;therefore,wedeterminedtheinventoriesandlossallowanceofinventoriesaskeyauditmatters.
2.AuditresponseTheauditprocedureswehaveimplementedforthiskeyauditmattermainlyinclude:
Understand,evaluate,andtestthedesignandoperationaleffectivenessofinternalcontrolrelatedtoinventory;
Understandthebusinessmodelsofreservegrainandcommoditygrain,verifythematchingbetweeninventorystructureandoperatingincome,andanalyzetherationalityofinventoryamounts;Reviewthemanagement’smodelandmethodforestimatingthenetrealizablevalueofinventory,aswellastherelevantparametersused.Forproductsthatcanobtainpubliclyavailablemarketsalesprices,selectasample,independentlyquerypubliclyavailablemarketpriceinformation,andcompareitwiththeestimatedsellingprice.Implementmonitoringprocedureforinventory,checkitsquantityandcondition,andimplementalternativeproceduresforfumigationwarehouses;Obtainthecalculationtableforlossallowanceofinventoriesandinventoryagelist,executeinventoryimpairmenttestingprocedures,andanalyzewhethertheprovisionforinventorydepreciationreservesissufficient,onductananalyticalreviewofinventorywithalongerinventoryagebasedontheconditionoftheproduct,andanalyzewhethertheprovisionforinventorydepreciationisreasonable.
4.OtherinformationForrelevantinformation,pleaserefertoNoteV(37)andNoteVII(61)offinancialstatements.ThemanagementofSZCH(hereinafterreferredtoasthemanagement)isresponsibleforotherinformationwhichincludestheinformationcoveredintheCompany’s2023annualreportexcludingthefinancialstatementandourauditreport.Theauditopinionissuedbyusforthefinancialstatementhasnotcoveredotherinformation,forwhichwedonotissueanyformofassuranceopinions.Consideringourauditonfinancialstatements,weareliabletoreadotherinformation,duringwhich,weshallconsiderwhetherotherinformationdiffersmateriallyfromthefinancialstatementsorthatweunderstandduringouraudit,orwhetherthereisanymaterialmisstatement.Basedontheworksexecutedbyus,weshouldreportthefactifwefindanymaterialmisstatementinotherinformation.Inthisregards,wehavenothingtoreport.
5.ResponsibilitiesofmanagementandthosechargedwithgovernanceforthefinancialstatementsThemanagementofSZCHisresponsibleforthepreparationofthefinancialstatementsinaccordancewiththeAccountingStandardsforEnterprisetosecureafairpresentation,andforthedesign,establishmentandmaintenanceoftheinternalcontrolnecessarytoenablethepreparationoffinancialstatementsthatarefreefrommaterialmisstatement,whetherduetofraudorerror.Inpreparingthefinancialstatements,themanagementisresponsibleforassessingtheCompany’sabilitytocontinueasagoingconcern(ifapplicable),disclosingmattersrelatedtogoingconcernandusingthegoingconcernassumptionunlessthemanagementeitherintendstoliquidatetheCompanyortoceaseoperations,orhasnorealisticalternativebuttodoso.ThosechargedwithgovernanceareresponsibleforoverseeingtheCompany’sfinancialreportingprocess.
6.ResponsibilitiesoftheauditorforthefinancialstatementsOurobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditreportthatincludesourauditopinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordancewiththeCASwillalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisofthefinancialstatements.AspartofanauditinaccordancewiththeCAS,weexerciseprofessionaljudgmentandmaintainprofessionalskepticismthroughout
theaudit.Wealso:
(i)Identifyandassesstherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror,designandperformauditproceduresresponsivetothoserisks,andobtainauditevidencethatissufficientandappropriatetoprovideabasisforauditopinion.Theriskofnotdetectingamaterialmisstatementresultingfromfraudishigherthanforoneresultingfromerror,asfraudmayinvolvecollusion,forgery,intentionalomissions,misrepresentations,ortheoverrideofinternalcontrol.(ii)Obtainanunderstandingofinternalcontrolrelevanttotheauditinordertodesignauditproceduresthatareappropriateinthecircumstances(iii)Evaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesandrelateddisclosuresmadebythemanagement.(iv)Concludeontheappropriatenessofthemanagement’suseofthegoingconcernassumptionand,basedontheauditevidenceobtained,whetheramaterialuncertaintyexistsrelatedtoeventsorconditionsthatmaycastsignificantdoubtontheCompany’sabilitytocontinueasagoingconcern.Ifweconcludethatamaterialuncertaintyexists,wearerequiredbytheCAStodrawusers’attentioninauditreporttotherelateddisclosuresinthefinancialstatementsor,ifsuchdisclosuresareinadequate,tomodifyauditopinion.Ourconclusionsarebasedontheinformationobtaineduptothedateofauditreport.However,futureeventsorconditionsmaycausetheCompanytoceasetocontinueasagoingconcern.(v)Evaluatetheoverallpresentation,includingthedisclosures,structureandcontentofthefinancialstatementsandwhetherthefinancialstatementsrepresenttheunderlyingtransactionsandeventsinamannerthatachievesfairpresentation.(vi)ObtainsufficientappropriateauditevidenceregardingthefinancialinformationoftheentitiesorbusinessactivitieswithintheCompanytoexpressauditopiniononthefinancialstatements.Weareresponsibleforthedirection,supervisionandperformanceofthegroupaudit.Weremainsolelyresponsibleforauditopinion.Wecommunicatewiththosechargedwithgovernanceregarding,amongothermatters,theplannedscopeandtimingoftheauditandsignificantauditfindings,includinganysignificantdeficienciesininternalcontrolthatweidentifyduringouraudit.Wealsoprovidethosechargedwithgovernancewithastatementthatwehavecompliedwithrelevantethicalrequirementsregardingindependence,andcommunicatewiththemallrelationshipsandothermattersthatmayreasonablybethoughttobearonourindependence,andrelevantcountermeasures(ifapplicable).Fromthematterscommunicatedwiththosechargedwithgovernance,wedeterminethosemattersthatwereofmostsignificanceintheauditofthefinancialstatementsofthecurrentperiodandarethereforethekeyauditmatters.Wedescribethesemattersintheauditor’sreportunlesslaworregulationprecludespublicdisclosureaboutthematterorwhen,inextremelyrarecircumstances,wedeterminethatamattershouldnotbecommunicatedintheauditor’sreportbecauseoftheadverseconsequencesofdoingsowouldreasonablybeexpectedtooutweighthepublicinterestbenefitsofsuchcommunication.
| GrantThorntonCertifiedPublicAccountantLLP(SpecialGeneralPartnership) | ChineseCPA(Partner)ChineseCPA | GaoHongWangZhongnian |
| BeijingChina | 日April12,2024 | |
II.FinancialStatement
StatementinFinancialNotesarecarriedInRMB/CNY
1.ConsolidatedBalanceSheet
PreparedbySHENZHENCEREALSHOLDINGSCO.,LTD.
December31,2023
InRMB
| Item | Dec.31,2023 | Jan.1,2023 |
| Currentassets: | ||
| Monetaryfunds | 236,384,606.60 | 54,103,771.00 |
| Settlementprovisions | ||
| Capitallent | ||
| Tradablefinancialassets | 1,122,347.85 | 46,676,652.91 |
| Derivativefinancialassets | ||
| Notereceivable | 113,932.00 | 270,109.00 |
| Accountreceivable | 179,828,493.98 | 236,829,100.95 |
| Receivablefinancing | ||
| Accountspaidinadvance | 17,234,701.92 | 65,487,390.88 |
| Insurancereceivable | ||
| Reinsurancereceivables | ||
| Contractreserveofreinsurancereceivable | ||
| Otheraccountreceivable | 29,127,689.89 | 32,910,189.14 |
| Including:Interestreceivable | ||
| Dividendreceivable | ||
| Buyingbackthesaleoffinancialassets | ||
| Inventories | 3,458,443,989.04 | 3,599,041,970.52 |
| Contractassets | ||
| Assetsheldforsale | 121,126,137.62 | |
| Non-currentassetduewithinoneyear | ||
| Othercurrentassets | 105,857,923.48 | 32,597,421.26 |
| Totalcurrentassets | 4,149,239,822.38 | 4,067,916,605.66 |
| Non-currentassets: | ||
| Loansandpaymentsonbehalf | ||
| Debtinvestment | ||
| Otherdebtinvestment | ||
| Long-termaccountreceivable | ||
| Long-termequityinvestment | 74,008,926.48 | 70,676,534.63 |
| Investmentinotherequityinstrument | ||
| Othernon-currentfinancialassets | 57,500.00 | 57,500.00 |
| Investmentrealestate | 263,597,031.89 | 217,137,461.76 |
| Fixedassets | 2,171,969,725.22 | 2,141,336,538.86 |
| Constructioninprogress | 51,288,301.16 | 186,884,912.13 |
| Productivebiologicalasset | 358,617.00 | 368,309.40 |
| Oilandgasasset | ||
| Right-of-useassets | 56,933,148.16 | 78,304,838.28 |
| Intangibleassets | 546,325,555.22 | 594,428,051.55 |
| ExpenseonResearchandDevelopment |
| Goodwill | 1,953,790.56 | |
| Long-termexpensestobeapportioned | 24,694,318.05 | 33,076,249.90 |
| Deferredincometaxasset | 52,757,295.38 | 40,395,164.00 |
| Othernon-currentasset | 7,297,950.00 | 8,953,415.90 |
| Totalnon-currentasset | 3,249,288,368.56 | 3,373,572,766.97 |
| Totalassets | 7,398,528,190.94 | 7,441,489,372.63 |
| Currentliabilities: | ||
| Short-termloans | 1,223,462,519.16 | 1,192,211,087.37 |
| Loanfromcentralbank | ||
| Capitalborrowed | ||
| Tradingfinancialliability | 288,486.18 | |
| Derivativefinancialliability | ||
| Notepayable | ||
| Accountpayable | 336,165,196.80 | 390,149,018.13 |
| Accountsreceivedinadvance | 1,084,701.60 | 1,355,802.01 |
| Contractliability | 86,566,253.73 | 110,177,908.96 |
| Sellingfinancialassetofrepurchase | ||
| Absorbingdepositandinterbankdeposit | ||
| Securitytradingofagency | ||
| Securitysalesofagency | ||
| Wagepayable | 266,214,663.20 | 339,234,506.43 |
| Taxespayable | 86,906,785.70 | 70,739,384.81 |
| Otheraccountpayable | 277,687,590.83 | 299,793,948.48 |
| Including:Interestpayable | ||
| Dividendpayable | 2,933,690.04 | 2,933,690.04 |
| Commissionchargeandcommissionpayable | ||
| Reinsurancepayable | ||
| Liabilityheldforsale | 66,579,828.59 | |
| Non-currentliabilitiesduewithinoneyear | 22,805,473.76 | 21,770,690.45 |
| Othercurrentliabilities | 3,896,140.56 | 1,112,119.07 |
| Totalcurrentliabilities | 2,371,369,153.93 | 2,426,832,951.89 |
| Non-currentliabilities: | ||
| Insurancecontractreserve | ||
| Long-termloans | ||
| Bondspayable | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Leaseliability | 37,744,951.74 | 60,436,879.66 |
| Long-termaccountpayable | 17,994,633.05 | 17,620,572.48 |
| Long-termwagespayable | ||
| Accrualliability | 3,500,000.00 | |
| Deferredincome | 82,819,873.24 | 87,077,137.27 |
| Deferredincometaxliabilities | 10,937,920.46 | 13,388,049.53 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 149,497,378.49 | 182,022,638.94 |
| Totalliabilities | 2,520,866,532.42 | 2,608,855,590.83 |
| Owner’sequity: | ||
| Sharecapital | 1,152,535,254.00 | 1,152,535,254.00 |
| Otherequityinstrument | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities |
| Capitalpublicreserve | 1,260,757,114.42 | 1,259,639,656.65 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | ||
| Reasonablereserve | 741,968.19 | 220,301.70 |
| Surpluspublicreserve | 483,103,366.38 | 439,624,164.67 |
| Provisionofgeneralrisk | ||
| Retainedprofit | 1,927,314,400.85 | 1,911,102,682.38 |
| Totalowner’sequityattributabletoparentcompany | 4,824,452,103.84 | 4,763,122,059.40 |
| Minorityinterests | 53,209,554.68 | 69,511,722.40 |
| Totalowner’sequity | 4,877,661,658.52 | 4,832,633,781.80 |
| Totalliabilitiesandowner’sequity | 7,398,528,190.94 | 7,441,489,372.63 |
LegalRepresentative:WangZhikaiPersoninchargeofaccountingworks:LuYuhePersoninchargeofaccountinginstitute:WenJieyu
2.BalanceSheetofParentCompany
InRMB
| Item | Dec.312023 | Jan.1,2023 |
| Currentassets: | ||
| Monetaryfunds | 149,617,836.08 | 961,310.17 |
| Tradablefinancialassets | 1,122,347.85 | 46,676,652.91 |
| Derivativefinancialassets | ||
| Notereceivable | ||
| Accountreceivable | 65,714,555.94 | 87,194,178.84 |
| Receivablefinancing | ||
| Accountspaidinadvance | 336,007.79 | 687,515.40 |
| Otheraccountreceivable | 1,624,337,855.63 | 1,560,888,393.94 |
| Including:Interestreceivable | ||
| Dividendreceivable | ||
| Inventories | ||
| Contractassets | ||
| Assetsheldforsale | 21,675,000.00 | |
| Non-currentassetsmaturingwithinoneyear | ||
| Othercurrentassets | 55,135,837.73 | 274,196.00 |
| Totalcurrentassets | 1,917,939,441.02 | 1,696,682,247.26 |
| Non-currentassets: | ||
| Debtinvestment | ||
| Otherdebtinvestment | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 4,026,844,425.09 | 4,033,819,425.09 |
| Investmentinotherequityinstrument | ||
| Othernon-currentfinancialassets | ||
| Investmentrealestate | 15,571,733.20 | 16,043,323.48 |
| Fixedassets | 32,858,541.01 | 33,752,718.66 |
| Constructioninprogress | ||
| Productivebiologicalassets | 358,617.00 | 368,309.40 |
| Oilandnaturalgasassets | ||
| Right-of-useassets | ||
| Intangibleassets | 23,006,791.89 | 17,032,428.19 |
| Researchanddevelopmentcosts | ||
| Goodwill | ||
| Long-termdeferredexpenses | 2,291,236.03 | 3,097,280.23 |
| Deferredincometaxassets | 10,260,054.61 | |
| Othernon-currentassets | 3,744,657.76 | 8,700,512.47 |
| Totalnon-currentassets | 4,114,936,056.59 | 4,112,813,997.52 |
| Totalassets | 6,032,875,497.61 | 5,809,496,244.78 |
| Currentliabilities: | ||
| Short-termborrowings | 100,073,055.56 | |
| Tradingfinancialliability | ||
| Derivativefinancialliability | ||
| Notespayable | ||
| Accountpayable | ||
| Accountsreceivedinadvance | ||
| Contractliability | ||
| Wagepayable | 31,524,389.29 | 27,465,081.26 |
| Taxespayable | 2,801,152.52 | 2,993,808.49 |
| Otheraccountspayable | 1,200,576,358.07 | 1,024,148,905.29 |
| Including:Interestpayable | ||
| Dividendpayable | 2,933,690.04 | 2,933,690.04 |
| Liabilityheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | ||
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 1,234,901,899.88 | 1,154,680,850.60 |
| Non-currentliabilities: | ||
| Long-termloans | ||
| Bondspayable | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Leaseliability | ||
| Long-termaccountpayable | ||
| Longtermemployeecompensationpayable | ||
| Accruedliabilities | 3,500,000.00 | |
| Deferredincome | ||
| Deferredincometaxliabilities | ||
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 3,500,000.00 | |
| Totalliabilities | 1,234,901,899.88 | 1,158,180,850.60 |
| Owners’equity: | ||
| Sharecapital | 1,152,535,254.00 | 1,152,535,254.00 |
| Otherequityinstrument | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Capitalpublicreserve | 3,018,106,568.27 | 3,018,106,568.27 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | ||
| Specialreserve | ||
| Surplusreserve | 210,698,938.24 | 167,219,736.53 |
| Retainedprofit | 416,632,837.22 | 313,453,835.38 |
| Totalowner’sequity | 4,797,973,597.73 | 4,651,315,394.18 |
| Totalliabilitiesandowner’sequity | 6,032,875,497.61 | 5,809,496,244.78 |
3.ConsolidatedProfitStatement
InRMB
| Item | 2023 | 2022 |
| I.Totaloperatingincome | 6,190,005,356.82 | 8,312,723,058.19 |
| Including:Operatingincome | 6,190,005,356.82 | 8,312,723,058.19 |
| Interestincome | ||
| Insurancegained | ||
| Commissionchargeandcommissionincome | ||
| II.Totaloperatingcost | 5,697,273,735.73 | 7,717,019,269.26 |
| Including:Operatingcost | 5,228,845,801.34 | 7,172,858,434.85 |
| Interestexpense | ||
| Commissionchargeandcommissionexpense | ||
| Cashsurrendervalue | ||
| Netamountofexpenseofcompensation | ||
| Netamountofwithdrawalofinsurancecontractreserve | ||
| Bonusexpenseofguaranteeslip | ||
| Reinsuranceexpense | ||
| Taxandextras | 18,910,438.82 | 17,936,476.00 |
| Salesexpense | 176,429,835.98 | 175,760,616.70 |
| Administrativeexpense | 212,979,557.64 | 280,557,640.12 |
| R&Dexpense | 20,045,364.68 | 18,549,053.04 |
| Financialexpense | 40,062,737.27 | 51,357,048.55 |
| Including:Interestexpenses | 39,968,255.33 | 52,421,870.87 |
| Interestincome | 959,189.54 | 895,316.44 |
| Add:Otherincome | 22,969,158.29 | 9,839,784.37 |
| Investmentincome(Lossislistedwith“-”) | 9,954,884.45 | 2,229,228.54 |
| Including:Investmentincomeonaffiliatedcompanyandjointventure | 3,332,391.85 | -2,813,908.86 |
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost | ||
| Exchangeincome(Lossislistedwith“-”) | ||
| Netexposurehedgingincome(Lossislistedwith“-”) | ||
| Incomefromchangeoffairvalue(Lossislistedwith“-”) | 182,701.67 | 18,546.91 |
| Lossofcreditimpairment(Lossislistedwith“-”) | -3,172,372.15 | -1,356,843.59 |
| Lossesofdevaluationofasset(Lossislistedwith“-”) | -104,336,237.13 | -142,507,365.87 |
| Incomefromassetsdisposal(Lossislistedwith“-”) | 2,394,378.42 | -25,417.69 |
| III.Operatingprofit(Lossislistedwith“-”) | 420,724,134.64 | 463,901,721.60 |
| Add:Non-operatingincome | 2,445,728.23 | 7,995,011.97 |
| Less:Non-operatingexpense | 1,800,973.49 | 985,871.48 |
| IV.Totalprofit(Lossislistedwith“-”) | 421,368,889.38 | 470,910,862.09 |
| Less:Incometaxexpense | 74,736,397.57 | 52,442,194.11 |
| V.Netprofit(Netlossislistedwith“-”) | 346,632,491.81 | 418,468,667.98 |
| (i)Classifybybusinesscontinuity | ||
| 1.continuousoperatingnetprofit(netlosslistedwith‘-”) | 346,632,491.81 | 418,468,667.98 |
| 2.terminationofnetprofit(netlosslistedwith‘-”) | ||
| (ii)Classifybyownership |
| 1.Netprofitattributabletoowner’sofparentcompany | 347,824,733.68 | 420,764,671.03 |
| 2.Minorityshareholders’gainsandlosses | -1,192,241.87 | -2,296,003.05 |
| VI.Netafter-taxofothercomprehensiveincome | ||
| Netafter-taxofothercomprehensiveincomeattributabletoownersofparentcompany | ||
| (I)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss | ||
| 1.Changesofthedefinedbenefitplansthatre-measured | ||
| 2.Othercomprehensiveincomeunderequitymethodthatcannotbetransfertogain/loss | ||
| 3.Changeoffairvalueofinvestmentinotherequityinstrument | ||
| 4.Fairvaluechangeofenterprise'screditrisk | ||
| 5.Other | ||
| (ii)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss | ||
| 1.Othercomprehensiveincomeunderequitymethodthatcantransfertogain/loss | ||
| 2.Changeoffairvalueofotherdebtinvestment | ||
| 3.Amountoffinancialassetsre-classifytoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionforotherdebtinvestment | ||
| 5.Cashflowhedgingreserve | ||
| 6.Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements | ||
| 7.Other | ||
| Netafter-taxofothercomprehensiveincomeattributabletominorityshareholders | ||
| VII.Totalcomprehensiveincome | 346,632,491.81 | 418,468,667.98 |
| TotalcomprehensiveincomeattributabletoownersofparentCompany | 347,824,733.68 | 420,764,671.03 |
| Totalcomprehensiveincomeattributabletominorityshareholders | -1,192,241.87 | -2,296,003.05 |
| VIII.Earningspershare: | ||
| (i)Basicearningspershare | 0.3018 | 0.3649 |
| (ii)Dilutedearningspershare | 0.3018 | 0.3649 |
Asfortheenterprisecombinedunderthesamecontrol,thenetprofitachievedbythemergedpartybeforecombinationis0.00yuanandthenetprofitachievedbythemergedpartyinlastperiodis0.00yuan.LegalRepresentative:WangZhikaiPersoninchargeofaccountingworks:LuYuhePersoninchargeofaccountinginstitute:HuangXidi
4.ProfitStatementofParentCompany
InRMB
| Item | 2023 | 2022 |
| I.Operatingincome | 156,547,962.65 | 204,080,212.91 |
| Less:Operatingcost | 471,590.28 | 471,590.28 |
| Taxesandsurcharge | 461,125.55 | 428,343.35 |
| Salesexpenses | 0.00 | 0.00 |
| Administrationexpenses | 69,872,687.40 | 67,070,054.50 |
| R&Dexpenses | ||
| Financialexpenses | -31,215,787.32 | -8,044,509.56 |
| Including:Interestexpenses | 1,340,647.66 | 1,827,115.61 |
| Interestincome | 32,809,723.32 | 9,779,382.27 |
| Add:Otherincome | 382,620.07 | 308,389.79 |
| Investmentincome(Lossislistedwith“-”) | 307,281,666.79 | 195,712,249.48 |
| Including:InvestmentincomeonaffiliatedCompanyandjointventure | ||
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost(Lossislistedwith“-”) | ||
| Netexposurehedgingincome(Lossislistedwith“-”) | ||
| Changingincomeoffairvalue(Lossislistedwith“-”) | -105,784.51 | 307,033.09 |
| Lossofcreditimpairment(Lossislistedwith“-”) | 11,212.35 | -664.43 |
| Lossesofdevaluationofasset(Lossislistedwith“-”) | ||
| Incomeondisposalofassets(Lossislistedwith“-”) | ||
| II.Operatingprofit(Lossislistedwith“-”) | 424,528,061.44 | 340,481,742.27 |
| Add:Non-operatingincome | 5,000.02 | 5,000.23 |
| Less:Non-operatingexpense | 1,099.02 | |
| III.TotalProfit(Lossislistedwith“-”) | 424,531,962.44 | 340,486,742.50 |
| Less:Incometax | -10,260,054.61 | |
| IV.Netprofit(Netlossislistedwith“-”) | 434,792,017.05 | 340,486,742.50 |
| (i)continuousoperatingnetprofit(netlosslistedwith‘-”) | 434,792,017.05 | 340,486,742.50 |
| (ii)terminationofnetprofit(netlosslistedwith‘-”) | ||
| V.Netafter-taxofothercomprehensiveincome | ||
| (i)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss | ||
| 1.Changesofthedefinedbenefitplansthatre-measured | ||
| 2.Othercomprehensiveincomeunderequitymethodthatcannotbetransfertogain/loss | ||
| 3.Changeoffairvalueofinvestmentinotherequityinstrument | ||
| 4.Fairvaluechangeofenterprise'screditrisk | ||
| 5.Other | ||
| (ii)Othercomprehensiveincomeitemswhichwillbereclassified |
| subsequentlytoprofitorloss | ||
| 1.Othercomprehensiveincomeunderequitymethodthatcantransfertogain/loss | ||
| 2.Changeoffairvalueofotherdebtinvestment | ||
| 3.Amountoffinancialassetsre-classifytoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionforotherdebtinvestment | ||
| 5.Cashflowhedgingreserve | ||
| 6.Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements | ||
| 7.Other | ||
| VI.Totalcomprehensiveincome | 434,792,017.05 | 340,486,742.50 |
| VII.Earningspershare: | ||
| (i)Basicearningspershare | ||
| (ii)Dilutedearningspershare |
5.ConsolidatedCashFlowStatement
InRMB
| Item | 2023 | 2022 |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 6,417,740,069.92 | 8,510,329,807.95 |
| Netincreaseofcustomerdepositandinterbankdeposit | ||
| Netincreaseofloanfromcentralbank | ||
| Netincreaseofcapitalborrowedfromotherfinancialinstitution | ||
| Cashreceivedfromoriginalinsurancecontractfee | ||
| Netcashreceivedfromreinsurancebusiness | ||
| Netincreaseofinsuredsavingsandinvestment | ||
| Cashreceivedfrominterest,commissionchargeandcommission | ||
| Netincreaseofcapitalborrowed | ||
| Netincreaseofreturnedbusinesscapital | ||
| Netcashreceivedbyagentsinsaleandpurchaseofsecurities | ||
| Write-backoftaxreceived | 3,183,211.56 | 84,485,893.36 |
| Othercashreceivedconcerningoperatingactivities | 284,184,297.42 | 400,125,909.72 |
| Subtotalofcashinflowarisingfromoperatingactivities | 6,705,107,578.90 | 8,994,941,611.03 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | 5,308,048,692.21 | 7,446,476,870.32 |
| Netincreaseofcustomerloansandadvances | ||
| Netincreaseofdepositsincentralbankandinterbank | ||
| Cashpaidfororiginalinsurance |
| contractcompensation | ||
| Netincreaseofcapitallent | ||
| Cashpaidforinterest,commissionchargeandcommission | ||
| Cashpaidforbonusofguaranteeslip | ||
| Cashpaidto/forstaffandworkers | 375,960,027.05 | 342,665,847.76 |
| Taxespaid | 138,212,589.39 | 153,858,115.96 |
| Othercashpaidconcerningoperatingactivities | 297,069,614.06 | 520,052,010.35 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 6,119,290,922.71 | 8,463,052,844.39 |
| Netcashflowsarisingfromoperatingactivities | 585,816,656.19 | 531,888,766.64 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | 1,558,000,000.00 | 1,281,460,000.00 |
| Cashreceivedfrominvestmentincome | 6,844,163.83 | 8,146,592.88 |
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | 6,881,320.00 | 276,799.46 |
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | ||
| Othercashreceivedconcerninginvestingactivities | 726,511.34 | 0.00 |
| Subtotalofcashinflowfrominvestingactivities | 1,575,902,755.32 | 1,289,883,392.34 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 147,621,094.50 | 198,201,398.37 |
| Cashpaidforinvestment | 1,543,000,000.00 | 1,106,460,000.00 |
| Netincreaseofmortgagedloans | ||
| Netcashreceivedfromsubsidiariesandotherunitsobtained | ||
| Othercashpaidconcerninginvestingactivities | 0.00 | 404.68 |
| Subtotalofcashoutflowfrominvestingactivities | 1,690,621,094.50 | 1,304,661,803.05 |
| Netcashflowsarisingfrominvestingactivities | -114,718,339.18 | -14,778,410.71 |
| III.Cashflowsarisingfromfinancingactivities: | ||
| Cashreceivedfromabsorbinginvestment | 490,000.00 | 4,900,000.00 |
| Including:Cashreceivedfromabsorbingminorityshareholders’investmentbysubsidiaries | 490,000.00 | 4,900,000.00 |
| Cashreceivedfromloans | 1,930,787,809.13 | 3,638,944,014.55 |
| Othercashreceivedconcerningfinancingactivities | ||
| Subtotalofcashinflowfromfinancingactivities | 1,931,277,809.13 | 3,643,844,014.55 |
| Cashpaidforsettlingdebts | 1,867,334,898.93 | 3,790,121,597.82 |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 324,657,445.10 | 342,789,753.61 |
| Including:Dividendandprofitofminorityshareholderpaidbysubsidiaries | 0.00 | 676,800.00 |
| Othercashpaidconcerningfinancingactivities | 34,531,394.28 | 24,485,154.67 |
| Subtotalofcashoutflowfromfinancingactivities | 2,226,523,738.31 | 4,157,396,506.10 |
| Netcashflowsarisingfromfinancingactivities | -295,245,929.18 | -513,552,491.55 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | 3,441,629.33 | 167,524.68 |
| V.Netincreaseofcashandcashequivalents | 179,294,017.16 | 3,725,389.06 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 53,095,469.26 | 49,370,080.20 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 232,389,486.42 | 53,095,469.26 |
6.CashFlowStatementofParentCompany
InRMB
| Item | 2023 | 2022 |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 729,054,189.00 | 176,686,787.63 |
| Write-backoftaxreceived | 0.00 | 1,708,938.65 |
| Othercashreceivedconcerningoperatingactivities | 2,005,313,299.07 | 3,680,998,303.08 |
| Subtotalofcashinflowarisingfromoperatingactivities | 2,734,367,488.07 | 3,859,394,029.36 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | 0.00 | 0.00 |
| Cashpaidto/forstaffandworkers | 49,590,320.93 | 57,765,938.12 |
| Taxespaid | 31,145,617.56 | 446,493.37 |
| Othercashpaidconcerningoperatingactivities | 2,100,148,518.90 | 2,660,155,177.37 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 2,180,884,457.39 | 2,718,367,608.86 |
| Netcashflowsarisingfromoperatingactivities | 553,483,030.68 | 1,141,026,420.50 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | 658,000,000.00 | 718,000,000.00 |
| Cashreceivedfrominvestmentincome | 3,654,709.03 | 4,590,419.34 |
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | 0.00 | 0.00 |
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | 6,881,320.00 | 0.00 |
| Othercashreceivedconcerninginvestingactivities | 16,592,433.35 | 4,000,000.00 |
| Subtotalofcashinflowfrominvestingactivities | 685,128,462.38 | 726,590,419.34 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 10,063,850.16 | 9,341,668.55 |
| Cashpaidforinvestment | 643,000,000.00 | 583,000,000.00 |
| Netcashreceivedfromsubsidiariesandotherunitsobtained | 0.00 | |
| Othercashpaidconcerninginvestingactivities | 47,100,000.00 | 1,053,688,033.44 |
| Subtotalofcashoutflowfrominvestingactivities | 700,163,850.16 | 1,646,029,701.99 |
| Netcashflowsarisingfrominvestingactivities | -15,035,387.78 | -919,439,282.65 |
| III.Cashflowsarisingfromfinancingactivities: | ||
| Cashreceivedfromabsorbinginvestment | ||
| Cashreceivedfromloans | 5,000,000.00 | 442,127,475.10 |
| Othercashreceivedconcerningfinancingactivities | ||
| Subtotalofcashinflowfromfinancingactivities | 5,000,000.00 | 442,127,475.10 |
| Cashpaidforsettlingdebts | 105,000,000.00 | 370,299,684.12 |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 289,793,581.08 | 294,731,370.17 |
| Othercashpaidconcerningfinancingactivities | ||
| Subtotalofcashoutflowfromfinancingactivities | 394,793,581.08 | 665,031,054.29 |
| Netcashflowsarisingfromfinancingactivities | -389,793,581.08 | -222,903,579.19 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | 2,464.09 | 13,362.62 |
| V.Netincreaseofcashandcashequivalents | 148,656,525.91 | -1,303,078.72 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 961,310.17 | 2,264,388.89 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 149,617,836.08 | 961,310.17 |
7.ConsolidatedStatementofChangesinOwners’Equity
Currentperiod
InRMB
| Item | 2023 | ||||||||||||||
| 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 | 1,259,639,656.65 | 220,301.70 | 439,624,164.67 | 1,910,954,084.79 | 4,762,973,461.81 | 69,511,722.40 | 4,832,485,184.21 | |||||||
| Add:Changesofaccountingpolicy | 148,597.59 | 148,597.59 | 148,597.59 | ||||||||||||
| Errorcorrectionofthelastperiod | |||||||||||||||
| Other | |||||||||||||||
| II.Balanceatthebeginningofthisyear | 1,152,535,254.00 | 1,259,639,656.65 | 220,301.70 | 439,624,164.67 | 1,911,102,682.38 | 4,763,122,059.40 | 69,511,722.40 | 4,832,633,781.80 | |||||||
| III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”) | 0.00 | 1,117,457.77 | 521,666.49 | 43,479,201.71 | 16,211,718.47 | 61,330,044.44 | -16,302,167.72 | 45,027,876.72 | |||||||
| (i)Totalcomprehensiveincome | 0.00 | 0.00 | 0.00 | 0.00 | 347,824,733.68 | 347,824,733.68 | -1,192,241.87 | 346,632,491.81 | |||||||
| (ii)Owners’devotedanddecreasedcapital | 0.00 | 1,117,457.77 | 0.00 | 0.00 | 0.00 | 1,117,457.77 | -15,109,925.85 | -13,992,468.08 | |||||||
| 1.Commonsharesinvestedbyshareholders | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 490,000.00 | 490,000.00 | ||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | |||||||||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
| 4.Other | 0.00 | 1,117,457.77 | 0.00 | 0.00 | 0.00 | 1,117,457.77 | -15,599,925.85 | -14,482,468.08 | |||||||
| (III)Profitdistribution | 0.00 | 0.00 | 0.00 | 43,479,201.7 | -331,613, | -288,133, | -288,133, | ||||||||
| 1 | 015.21 | 813.50 | 813.50 | |||||||||
| 1.Withdrawalofsurplusreserves | 0.00 | 0.00 | 0.00 | 43,479,201.71 | -43,479,201.71 | 0.00 | ||||||
| 2.Withdrawalofgeneralriskprovisions | ||||||||||||
| 3.Distributionforowners(orshareholders) | 0.00 | 0.00 | 0.00 | 0.00 | -288,133,813.50 | -288,133,813.50 | -288,133,813.50 | |||||
| 4.Other | 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 | ||||||
| 1.Capitalreservesconversedtocapital(sharecapital) | ||||||||||||
| 2.Surplusreservesconversedtocapital(sharecapital) | ||||||||||||
| 3.Remedyinglosswithsurplusreserve | ||||||||||||
| 4.Carry-overretainedearningsfromthedefinedbenefitplans | ||||||||||||
| 5.Carry-overretainedearningsfromothercomprehensiveincome | ||||||||||||
| 6.Other | ||||||||||||
| (V)Reasonablereserve | 0.00 | 0.00 | 521,666.49 | 0.00 | 0.00 | 521,666.49 | 0.00 | 521,666.49 | ||||
| 1.Withdrawalinthereportperiod | 0.00 | 0.00 | 1,981,520.98 | 0.00 | 0.00 | 1,981,520.98 | 0.00 | 1,981,520.98 | ||||
| 2.Usageinthereportperiod | 0.00 | 0.00 | -1,459,854.49 | 0.00 | 0.00 | -1,459,854.49 | 0.00 | -1,459,854.49 | ||||
| (VI)Others | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| IV.Balanceattheendofthereportperiod | 1,152,535,254.00 | 1,260,757,114.42 | 741,968.19 | 483,103,366.38 | 1,927,314,400.85 | 4,824,452,103.84 | 53,209,554.68 | 4,877,661,658.52 |
Lastperiod
InRMB
| Item | 2022 | ||||||||||||||
| 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 | 1,259,639,656.65 | 0.00 | 405,575,490.42 | 1,812,541,701.27 | 4,630,292,102.34 | 66,614,164.37 | 4,696,906,266.71 | |||||||
| Add:Changesofaccountingpolicy | -21,202.17 | -21,202.17 | -21,202.17 | ||||||||||||
| Errorcorrectionofthelastperiod | |||||||||||||||
| Other | |||||||||||||||
| II.Balanceatthebeginningofthisyear | 1,152,535,254.00 | 1,259,639,656.65 | 0.00 | 405,575,490.42 | 1,812,520,499.10 | 4,630,270,900.17 | 66,614,164.37 | 4,696,885,064.54 | |||||||
| III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”) | 0.00 | 0.00 | 220,301.70 | 34,048,674.25 | 98,582,183.28 | 132,851,159.23 | 2,897,558.03 | 135,748,717.26 | |||||||
| (i)Totalcomprehensiveincome | 0.00 | 0.00 | 0.00 | 0.00 | 420,764,671.03 | 420,764,671.03 | -2,296,003.05 | 418,468,667.98 | |||||||
| (ii)Owners’devotedanddecreasedcapital | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4,900,000.00 | 4,900,000.00 | ||||||||
| 1.Commonsharesinvestedbyshareholders | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4,900,000.00 | 4,900,000.00 | ||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | |||||||||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
| 4.Other | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
| (III)Profitdistribution | 0.00 | 0.00 | 0.00 | 34,048,674.25 | -322,182,487.75 | -288,133,813.50 | -1,119,617.15 | -289,253,430.65 | |||||||
| 1.Withdrawalofsurplusreserves | 0.00 | 0.00 | 0.00 | 34,048,674.25 | -34,048,674.25 | 0.00 | 0.00 | ||||||||
| 2.Withdrawalofgeneralriskprovisions | |||||||||||||||
| 3.Distributionforowners(orshareholders) | 0.00 | 0.00 | 0.00 | 0.00 | -288,133,81 | -288,133,81 | -1,119,617.1 | -289,253,43 | |||||||
| 3.50 | 3.50 | 5 | 0.65 | |||||||||
| 4.Other | 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 | |||||
| 1.Capitalreservesconversedtocapital(sharecapital) | ||||||||||||
| 2.Surplusreservesconversedtocapital(sharecapital) | ||||||||||||
| 3.Remedyinglosswithsurplusreserve | ||||||||||||
| 4.Carry-overretainedearningsfromthedefinedbenefitplans | ||||||||||||
| 5.Carry-overretainedearningsfromothercomprehensiveincome | ||||||||||||
| 6.Other | ||||||||||||
| (V)Reasonablereserve | 0.00 | 0.00 | 220,301.70 | 0.00 | 0.00 | 220,301.70 | 0.00 | 220,301.70 | ||||
| 1.Withdrawalinthereportperiod | 0.00 | 0.00 | 1,748,440.14 | 0.00 | 0.00 | 1,748,440.14 | 0.00 | 1,748,440.14 | ||||
| 2.Usageinthereportperiod | 0.00 | 0.00 | -1,528,138.44 | 0.00 | 0.00 | -1,528,138.44 | 0.00 | -1,528,138.44 | ||||
| (VI)Others | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,413,178.23 | 1,413,178.23 | |||||
| IV.Balanceattheendofthereportperiod | 1,152,535,254.00 | 1,259,639,656.65 | 220,301.70 | 439,624,164.67 | 1,911,102,682.38 | 4,763,122,059.40 | 69,511,722.40 | 4,832,633,781.80 |
8.StatementofChangesinOwners’Equity(ParentCompany)
CurrentPeriod
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 | ||||||||||||
| Error | ||||||||||||
| correctionofthelastperiod | ||||||||
| 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“-”) | 0.00 | 0.00 | 43,479,201.71 | 103,179,001.84 | 146,658,203.55 | |||
| (i)Totalcomprehensiveincome | 0.00 | 0.00 | 0.00 | 434,792,017.05 | 434,792,017.05 | |||
| (ii)Owners’devotedanddecreasedcapital | ||||||||
| 1.Commonsharesinvestedbyshareholders | ||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||||
| 4.Other | ||||||||
| (III)Profitdistribution | 0.00 | 0.00 | 43,479,201.71 | -331,613,015.21 | -288,133,813.50 | |||
| 1.Withdrawalofsurplusreserves | 0.00 | 0.00 | 43,479,201.71 | -43,479,201.71 | 0.00 | |||
| 2.Distributionforowners(orshareholders) | 0.00 | 0.00 | 0.00 | -288,133,813.50 | -288,133,813.50 | |||
| 3.Other | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| (IV)Carryingforwardinternalowners’equity | ||||||||
| 1.Capitalreservesconversedtocapital(share |
| capital) | ||||||||
| 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 | 3,018,106,568.27 | 210,698,938.24 | 416,632,837.22 | 4,797,973,597.73 |
Lastperiod
InRMB
| Item | 2022 | |||||||||||
| 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 | 133,171,062.28 | 295,149,580.63 | 4,598,962,465.18 | |||||||
| Add:Changesofaccountingpolicy | ||||||||||||
| Errorcorrectionofthelastperiod | ||||||||||||
| Other | ||||||||||||
| II.Balanceatthebeginningofthisyear | 1,152,535,254.00 | 3,018,106,568.27 | 133,171,062.28 | 295,149,580.63 | 4,598,962,465.18 | |||||||
| III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”) | 0.00 | 0.00 | 34,048,674.25 | 18,304,254.75 | 52,352,929.00 | |||||||
| (i)Totalcomprehensiveincome | 0.00 | 0.00 | 0.00 | 340,486,742.50 | 340,486,742.50 | |||
| (ii)Owners’devotedanddecreasedcapital | ||||||||
| 1.Commonsharesinvestedbyshareholders | ||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||||
| 4.Other | ||||||||
| (III)Profitdistribution | 0.00 | 0.00 | 34,048,674.25 | -322,182,487.75 | -288,133,813.50 | |||
| 1.Withdrawalofsurplusreserves | 0.00 | 0.00 | 34,048,674.25 | -34,048,674.25 | 0.00 | |||
| 2.Distributionforowners(orshareholders) | 0.00 | 0.00 | 0.00 | -288,133,813.50 | -288,133,813.50 | |||
| 3.Other | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| (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 | 3,018,106,568.27 | 167,219,736.53 | 313,453,835.38 | 4,651,315,394.18 |
III.BasicinformationofCompany
1.CompanyprofileShenzhenCerealsHoldingsCo.,Ltd.(formerlytheShenzhenShenbaoIndustrialCo.,Ltd.,hereinafterreferredtoas“SZCH”,“Company”or“theCompany”),formerlynamedShenzhenShenbaoCannedFoodCompany,obtainedapproval(Document(1991)No.978)fromShenzhenMunicipalPeople’sGovernmenttochangetothenameasShenzhenShenbaoIndustrialCo.,Ltd.onAugust1991.ApprovedbythePeople’sBankofChina(Document(1991)No.126),theCompanywaslistedonShenzhenStockExchange.TheCompanybelongstothegrain,oil,foodandbeverageindustry.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&AdministrationCommissionThefinancialstatementsandnotestofinancialstatementshasbeenapprovedbythe7
thmeetingofthe11
th
sessionofBODofthecompanyonApril12,2024.
2.ConsolidationscopeoffinancialstatementFormoredetailsofchangeoftheconsolidationscopeinthePeriod,pleasereferto“NoteVIII.Changeofconsolidationscope”Formoredetailsofsubsidiariesofthecompany,pleasereferto“NoteIX.Equityinotherentities”IV.Basisofpreparationoffinancialstatements
1.BasisofpreparationThefinancialstatementarepreparedinlinewiththeAccountingStandardsforBusinessEnterprise-BasicStandardissuedbyMinistryofFinanceandspecificaccountingprincipleaswellastheapplicationguidancefortheaccountingprinciplesforenterprise,interpretationtotheaccountingprinciplesforenterpriseandotherrelatedrequirements(hereinafterreferredtoasAccountingStandardsforBusinessEnterprise),combiningtheInformationDisclosurePreparationRulesforCompanyPublicIssuingSecuritiesNo.15-GeneralRulesforFinancialReportoftheCSRC(Revisedin2023).
2.Goingconcern
Thefinancialstatementhasbeenpreparedonagoingconcernbasis.
V.Majoraccountingpolicyandaccountingestimate
Specificaccountingpoliciesandaccountingestimatetips:
Ourcompanyhasdeterminedfixedassetdepreciation,intangibleassetamortization,andrevenuerecognitionpoliciesbasedonitsownproductionandoperationcharacteristics.SpecificaccountingpoliciescanbefoundinNoteV.24,NoteV.29andNoteV5.37.
1.StatementforobservationofAccountingStandardforBusinessEnterpriseThefinancialstatementspreparedbytheCompanyareinaccordancetorequirementsofAccountingStandardforBusinessEnterpriseissuedbyMinistryofFinance,whichtrulyandcompletelyreflectthefinancialstatusoftheCompanyandparentcompanyonDecember31,2023,aswellastheconsolidateandparentcompany’soperationalresultsandcashflowforyearof2023.
2.Accountingperiod
CalendaryearistheaccountingperiodfortheCompany,thatisfallstotherangestartingfrom1Januaryto31December.
3.OperatingcycleOperatingcycleoftheCompanyis12months
4.Standardcurrency
TheCompanyanditssubsidiariestakeRMBasthestandardcurrencyforbookkeeping.
5.Methodfordeterminingimportancecriteriaandselectioncriteria?Applicable□Notapplicable
| Item | Importancecriteria |
| Importantaccountsreceivablewithsingleprovisionforbaddebtreserves | Amount≥1000000 |
| Otheraccountsreceivablewithsignificantsingleprovisionforbaddebtreserves | Amount≥5000000 |
6.Accountingtreatmentmethodsforbusinesscombinationsunderthesamecontrolandthosenotunderthesamecontrol
(1)MergerofenterprisesunderthesamecontrolFormergeofbusinessunderthesamecontrol,theassetsandliabilitiesofthemergedpartyacquiredbythemergingpartyinthemergershallbemeasuredatthecarryingamountofthemergedpartyinthefinalcontrollingparty’sconsolidatedfinancialstatementsonthemergerdate.Thedifferencebetweenthebookvalueofthemergerconsideration(orthetotalfacevalueoftheissuedshares)andthebookvalueofthenetassetsobtainedinthemergershallbeadjustedtothecapitalreserve(sharepremium).Ifthecapitalreserve(sharepremium)isinsufficienttooffset,theretainedearningsshallbeadjusted.Implementingenterprisemergersunderthesamecontrolthroughmultipletransactionsandstep-by-stepimplementationTheassetsandliabilitiesofthemergedpartyacquiredbythemergingpartyinthemergershallbemeasuredattheircarryingamounts
intheconsolidatedfinancialstatementsoftheultimatecontrollingpartyonthemergerdate;Thedifferencebetweenthebookvalueoftheinvestmentsheldbeforethemergerandthebookvalueofthenewlypaidconsiderationonthemergerdate,andthebookvalueofthenetassetsobtainedduringthemerger,isadjustedtothecapitalreserve(sharepremium).Ifthecapitalreserveisinsufficienttooffset,theretainedearningsareadjusted.Thelong-termequityinvestmentheldbythemergingpartybeforeobtainingcontrolofthemergedpartyshallbeoffsetagainstthebeginningretainedearningsorcurrentperiodgains/lossesofthecomparativefinancialperiod,respectively,incasetherelevantgains/losses,othercomprehensiveincomeandotherchangesinshareholders’equityhavebeenrecognizedwithintheperiodfromthelatterbetweenthedateofacquiringtheoriginalequityandthedatewhenthemergingpartyandthemergedpartyareunderthesameultimatecontrolasthemergingpartytothemergingdate.
(2)MergerofenterprisesnotunderthesamecontrolFormergeofenterprisesnotunderthesamecontrol,themergercostisthefairvalueoftheassetspaid,liabilitiesincurredorassumed,andequitysecuritiesissuedontheacquisitiondatetoobtaincontrolovertheacquiredparty.Onthepurchasedate,theassets,liabilities,andcontingentliabilitiesoftheacquiredpartyarerecognizedatfairvalue.Thedifferencebetweenthemergercostandthefairvalueshareofidentifiablenetassetsobtainedfromtheacquiredpartyinthemergershallberecognizedasgoodwillandsubsequentlymeasuredatcostminusaccumulatedimpairmentprovisions;Incasethemergecostislowerthanthefairvalueofidentifiablenetassetsobtainedfromtheacquiredpartyinthemerge,thedifferenceshallberecognizedinthegains/lossesofcurrentperiodafterreview.ImplementingbusinessmergersunderdifferentcontrolthroughmultipletransactionsinstagesThemergercostisthesumoftheconsiderationpaidonthepurchasedateandthefairvalueoftheequityoftheacquiredpartyheldpriortothepurchasedate.Fortheequityofthepurchasedpartyalreadyheldbeforethepurchasedate,itshallberemeasuredatitsfairvalueonthepurchasedate,andthedifferencebetweenthefairvalueanditsbookvalueshallberecognizedinthecurrentinvestmentincome;Thechangesinothercomprehensiveincomeandothershareholders’equityinvolvedwiththeequityofthepurchasedpartybeforepurchasedateshallbecarriedforwardtothecurrentincomeofthepurchasedate,notincludingothercomprehensiveincomearisingfromchangesinnetliabilitiesornetassetsiftheinvestedentityremeasuresthedefinedbenefitplan,aswellasothercomprehensiveincomerelatedtonontradingequityinstrumentinvestmentsthatwereoriginallydesignatedtobemeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome.
(3)TreatmentoftransactioncostsinenterprisemergerTheintermediaryfeesforauditing,legalservices,evaluationandconsulting,aswellasotherrelatedmanagementexpensesincurredforbusinessmergers,arerecognizedinthecurrentperiod’sgains/losseswhenincurred.Thetransactioncostsofequityordebtsecuritiesissuedasconsiderationforthemergershallbeincludedintheinitialrecognitionamountofequityordebtsecurities.
7.Criteriaforjudgingcontrolandpreparationmethodsforconsolidatedfinancialstatements
(1)CriteriaforjudgingcontrolTheconsolidationscopeoftheconsolidatedfinancialstatementsisdeterminedbasedoncontrol.Controlreferstothecompanyhavingthepowerovertheinvestedentity,enjoyingvariablereturnsthroughparticipatinginrelatedactivitiesoftheinvestedentity,andhavingtheabilitytousethepowerovertheinvestedentitytoinfluenceitsreturnamount.Whenchangesinrelevantfactsandcircumstancesresultinchangesintherelevantelementsinvolvedinthedefinitionofcontrol,thecompanywillconductreassessment.Whendeterminingwhethertoincludeastructuredentityinthescopeofconsolidation,thecompanytakesintoaccountallfactsandcircumstances,includingevaluatingthepurposeanddesignoftheestablishmentofthestructuredentity,identifyingthetypesofvariablereturns,andevaluatingwhethertocontrolthestructuredentitybyparticipatinginitsrelatedactivitiesandassumingsomeor
allofthevariabilityofreturns.
(2)MethodofpreparingconsolidatedfinancialstatementsTheconsolidatedfinancialstatementsarebasedonthefinancialstatementsoftheCompanyanditssubsidiaries,andarepreparedbytheCompanybasedonotherrelevantinformation.Whenpreparingconsolidatedfinancialstatements,theaccountingpoliciesandperiodrequirementsoftheCompanyanditssubsidiariesareconsistent,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.
(5)StepbystepdisposalofequityuntillossofcontrolIftheterms,conditions,andeconomicimpactofvarioustransactionsthatinvolvethestep-by-stepdisposalofequitythroughmultipletransactionsuntilthelossofcontrolmeetoneormoreofthefollowingconditions,theCompanywilltreatthemultipletransactionsasapackagetransactionforaccountingtreatment:
①Thesetransactionswereenteredintosimultaneouslyorconsideringmutualinfluence;
②Thesetransactionsasawholecanachieveacompletecommercialoutcome;
③Theoccurrenceofatransactiondependsontheoccurrenceofatleastoneothertransaction;④Asingletransactionmaynotbeeconomicalwhenviewedseparately,butitiseconomicalwhenconsideredtogetherwithothertransactions.Intheconsolidatedfinancialstatements,incaseofstep-by-stepdisposalofequityuntillossofcontrol,theremainingequityandtheaccountingofgainsandlossesrelatedtothedisposalofequityshallbemeasuredbyreferencetotheaccountingtreatmentforthelossofcontrolofasubsidiaryasdescribedabove.Beforelosingcontrol,thedifferencebetweenthedisposalpriceandthebookvalueofnetassetofthesubsidiarycorrespondingtothedisposalinvestmentthathasbeencontinuouslycalculatedsincethepurchasedateshallbetreatedasfollows:
①Ifitispackagedeal,itisrecognizedasothercomprehensiveincomeandtransferredtothegainsandlossesoftheperiodwhenlosingcontrol.
②Ifitisnotpackagedeal,itshallbebookedintocapitalreserve(sharepremium)asequitytransactionandshallnotbetransferredtothegainsandlossesoftheperiodwhenlosingcontrol.
8.Classificationofjointventurearrangementsandaccountingtreatmentmethodsforjointoperations
Jointventurearrangementreferstoanarrangementjointlycontrolledbytwoormoreparticipatingparties.Thejointventurearrangementsofthecompanyaredividedintojointoperationsandjointventures.
(1)JointoperationInjointoperation,thecompanyenjoystheassetsrelatedtothearrangementandassumestheliabilitiesrelatedtothearrangement.Thecompanyconfirmsthefollowingitemsrelatedtotheshareofinterestsinjointoperationsandconductsaccountingtreatmentinaccordancewiththerelevantaccountingstandardsforenterprises:
A.Recognizeindividuallyheldassetsandjointlyheldassetsbasedontheirrespectiveshares;B.Recognizeindividualliabilitiesandjointlyassumeliabilitiesbasedontheirrespectiveshares;C.Recognizetheincomegeneratedfromthesaleofitsshareofjointoperatingoutput;D.Recognizetherevenuegeneratedfromthesaleofoutputinjointoperationsbasedontheirshare;E.Recognizetheexpensesincurredseparately,andtheexpensesincurredinjointoperationsbasedontheirrespectiveshares.
(2)JointventureInajointventure,thecompanyonlyhastherighttothenetassetsarrangedbyit.Thecompanyaccountsforinvestmentsinjointventuresinaccordancewiththeprovisionsofequitymethodaccountingforlong-termequityinvestments.
9.RecognitionstandardsforcashandcashequivalentsCashreferstothecashonhandandcashequivalentsofdepositsthatcanbeusedforpaymentatanytime.CashequivalentreferstotheinvestmentheldbytheCompanywithshortmaturityandstrongliquiditythatareeasytobeconvertedintoknownamountswithlittleriskofchangeincashvalue.
10.Foreigncurrencytransactionsandforeigncurrencystatementtranslation
Ourcompanyconductsforeigncurrencytransactionsandconvertsthemintotheaccountingbasecurrencyamountatthespotexchangerateonthetransactiondate.Onthebalancesheetdate,foreigncurrencymonetaryitemsareconvertedwiththespotexchangerateonthebalancesheetdate.Theexchangedifferencearisingfromthedifferencebetweenthespotexchangerateonthebalancesheetdateandtheexchangerateforinitialrecognitionoronthepreviousbalancesheetdateshallberecognizedinthecurrentperiod'sgainsandlosses;Forforeigncurrencynon-monetaryitemsmeasuredathistoricalcost,thespotexchangerateonthetransactiondateshallstillbeusedfortranslation;Forforeigncurrencynon-monetaryitemsmeasuredatfairvalue,thespotexchangerateonthedateoffairvaluedeterminationisadopted.Thedifferencebetweentheconvertedamountintheaccountingcurrencyandtheoriginalamountintheaccountingcurrencyisrecognizedinthegainsandlossesofcurrentperiodorothercomprehensiveincomebasedonthenatureofthenon-monetaryitem.
11.Financialinstrument
Financialinstrumentisthecontractthatformsthefinancialassesforanenterpriseandformsthefinancialliabilityorequityinstrumentforotherunits.
(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?Thecontractualtermsofthefinancialassetstipulatethatthecashflowgeneratedonaspecificdateisonlyusedtopayforthe
principalandtheinterestbasedontheoutstandingprincipalamount.Afterinitialrecognition,suchfinancialassetsaresubsequentlymeasuredatfairvalue.Interests,impairmentlossesorgainsandexchangegainsandlossescalculatedwiththeeffectiveinterestmethodareincludedinprofitorlossfortheperiod,andothergainsorlossesareincludedinothercomprehensiveincome.Atthetimeofderecognition,theaccumulatedgainsorlossespreviouslyincludedinothercomprehensiveincomeshallbecarriedforwardfromothercomprehensiveincometocurrentprofitorloss.FinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitorlossExceptfortheabovefinancialassetsmeasuredatamortizedcostandmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome,theCompanyclassifiesallotherfinancialassetsasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitorloss.Intheinitialrecognition,inordertoeliminateorsignificantlyreduceaccountingmismatch,theCompanyirreversiblydesignatespartofthefinancialassetsthatshouldbemeasuredatamortizedcostormeasuredatfairvalueandwhosechangesareincludedintheothercomprehensiveincomeasthefinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitorloss.Aftertheinitialrecognition,suchfinancialassetsaresubsequentlymeasuredatfairvalue,andthegainsorlosses(includinginterestsanddividendincome)areincludedinthecurrentprofitandloss,unlessthefinancialassetsarepartofthehedgingrelationship.Thebusinessmodelofmanagingfinancialassetsreferstohowthecompanymanagesfinancialassetstogeneratecashflow.Thebusinessmodeldetermineswhetherthesourceofcashflowforthefinancialassetsmanagedbythecompanyistoreceivecontractcashflow,sellfinancialassets,oracombinationofboth.thecompanydeterminesthebusinessmodelformanagingfinancialassetsbasedonobjectivefactsandspecificbusinessobjectivesdeterminedbykeymanagementpersonnel.
Thecompanyevaluatesthecontractualcashflowcharacteristicsoffinancialassetstodeterminewhetherthecontractualcashflowgeneratedbytherelevantfinancialassetsonaspecificdateisonlyforthepaymentofprincipalandinterestbasedontheoutstandingprincipalamount.Principalreferstothefairvalueoffinancialassetsatinitialrecognition;Interestincludesconsiderationforthetimevalueofmoney,creditriskassociatedwithoutstandingprincipalamountsforaspecificperiod,andotherbasiclendingrisks,costs,andprofits.Inaddition,thecompanyevaluatescontracttermsthatmaycausechangesinthetimedistributionoramountofcashflowsinfinancialassetcontractstodeterminewhethertheymeettherequirementsoftheaforementionedcontractcashflowcharacteristics.Onlywhenthecompanychangesitsbusinessmodelformanagingfinancialassets,allaffectedrelatedfinancialassetsshallbereclassifiedonthefirstdayofthefirstreportingperiodafterthechangeinbusinessmodel.Otherwise,financialassetsshallnotbereclassifiedafterinitialrecognition.Financialassetsaremeasuredatfairvalueatinitialrecognition.Forfinancialassetsmeasuredatfairvaluewithchangesrecognizedinthegainsandlossesofcurrentperiod,therelevanttransactioncostsaredirectlyrecognizedinthegainsandlossesofcurrentperiod;Forothercategoriesoffinancialassets,relevanttransactioncostsareincludedintheinitialrecognitionamount.Theaccountsreceivablearisingfromthesaleofproductsorprovisionofservices,whichdonotincludeorconsidersignificantfinancingcomponents,shallberecognizedbythecompanyasexpectedamountofconsiderationfortheinitialrecognitionamount.
(3)ClassificationandmeasurementoffinancialliabilitiesThefinancialliabilitiesofthecompanyareclassifiedatinitialrecognitionasfinancialliabilitiesmeasuredatfairvaluethroughgainsandlossesofcurrentperiod,financialliabilitiesmeasuredatamortizedcost.Forfinancialliabilitiesthatarenotclassifiedasmeasuredatfairvalueandwhosechangesarerecognizedinthegainsandlossesofcurrentperiod,therelevanttransactioncostsareincludedintheirinitialrecognitionamount.FinancialliabilitiesmeasuredatfairvaluethroughgainsandlossesFinancialliabilitiesmeasuredatfairvaluethroughgainsandlossesincludetradingfinancialliabilitiesandfinancialliabilitiesdesignatedatinitialrecognitionasmeasuredatfairvaluethroughprofitorloss.Forsuchfinancialliabilities,subsequentmeasurementsaremadeatfairvalue,andgainsorlossesresultingfromchangesinfairvalue,aswellasdividendsandinterestexpensesrelatedtosuchfinancialliabilities,arerecognizedinthegainsandlossesofcurrentperiod.FinancialliabilitiesmeasuredatamortizedcostOtherfinancialliabilitiesaremeasuredwitheffectiveinterestratemethodatamortizedcost,andanygainsorlossesarisingfromderecognitionoramortizationarerecognizedinthegainsandlossesofcurrentperiod.ThedistinctionbetweenfinancialliabilitiesandequityinstrumentsFinancialliabilitiesrefertoliabilitiesthatmeetoneofthefollowingconditions:
①Thecontractualobligationtodelivercashorotherfinancialassetstootherparties.
②Contractualobligationstoexchangefinancialassetsorliabilitieswithotherpartiesunderpotentialadverseconditions.③Non-derivativeinstrumentcontractsthatrequireorcanbesettledwiththecompany’sownequityinstrumentsinthefuture,andthecompanywilldeliveravariablenumberofitsownequityinstrumentsaccordingtothiscontract.
④Derivativeinstrumentcontractsthatrequireorcanbesettledwiththecompany’sownequityinstrumentsinthefuture,exceptforderivativeinstrumentcontractswhereafixedamountofselfequityinstrumentsareexchangedforafixedamountofcashorotherfinancialassets.
Equityinstrumentsrefertocontractsthatproveownershipoftheremainingequityinassetsofacertainenterpriseafterdeductingallliabilities.Ifthecompanycannotunconditionallyavoidfulfillingacontractualobligationbydeliveringcashorotherfinancialassets,suchcontractualobligationmeetsthedefinitionoffinancialliability.Ifafinancialinstrumentneedstobesettledorcanbesettledwiththecompany’sownequityinstruments,itisnecessarytoconsiderwhetherthecompany’sownequityinstrumentsusedtosettletheinstrumentareusedassubstitutesforcashorotherfinancialassets,ortoenabletheholderoftheinstrumenttoenjoytheremainingequityintheassetsafterdeductingallliabilitiesfromtheissuer.Ifitistheformer,theinstrumentisthefinancialliabilityofthecompany;Ifitisthelatter,theinstrumentistheequityinstrumentofthecompany.
(4)DerivativefinancialinstrumentsandembeddedderivativeinstrumentsThederivativefinancialinstrumentsofthecompanyareinitiallymeasuredatfairvalueonthedateofsigningthederivativetransactioncontract,andaresubsequentlymeasuredattheirfairvalue.Thederivativefinancialinstrumentswithapositivefairvaluearerecognizedasanasset,whilethosewithanegativefairvaluearerecognizedasaliability.Anygainsorlossesarisingfromchangesinfairvaluethatdonotcomplywithhedgeaccountingregulationsaredirectlyrecognizedinthegainsandlossesofcurrentperiod.Formixedinstrumentscontainingembeddedderivativeinstruments,incasethemaincontractisafinancialasset,therelevantprovisionsforfinancialassetclassificationshallapplytothemixedinstrumentsasawhole.Ifthemaincontractisnotafinancialasset,andthemixedinstrumentisnotmeasuredatfairvaluethroughgainsandlosses,theembeddedderivativeinstrumentisnotcloselyrelatedtothemaincontractintermsofeconomiccharacteristicsandrisks,andhasthesameconditionsastheembeddedderivativeinstrument,andtheseparateinstrumentmeetsthedefinitionofaderivativeinstrument,theembeddedderivativeinstrumentisseparatedfromthemixedinstrumentandtreatedasaseparatederivativefinancialinstrument.Ifitisnotpossibletoseparatelymeasureembeddedderivativeinstrumentsatthetimeofacquisitionorsubsequentbalancesheetdates,themixedinstrumentasawholeshallbedesignatedasafinancialassetorliabilitymeasuredatfairvaluewithitschangesrecognizedinthegainsandlossesofcurrentperiod.
(5)FairvalueoffinancialinstrumentsThemethodfordeterminingthefairvalueoffinancialassetsandfinancialliabilitiescanbefoundinNotesIII.12oftheauditreport.
(6)ImpairmentoffinancialassetsBasedonexpectedcreditlosses,thecompanyconductsimpairmentaccountingtreatmentandrecognizeslossprovisionsforthefollowingitems:
?Financialassetsmeasuredatamortizedcost;?Accountsreceivableanddebtinstrumentinvestmentsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome;
?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,thecompanywillmakeindividualseparatebaddebtreserveforthatreceivables.Exceptforaccountsreceivablewithindividualbaddebtreserve,thecompanyclassifiesaccountsreceivableintoportfoliosbasedoncreditriskcharacteristicsandcalculatesbaddebtreserveonthebasisofportfolio.NotesreceivableandaccountsreceivableFornotesreceivableandaccountsreceivable,regardlessofwhethertherearesignificantfinancingcomponents,thecompanyalways
measuresitslossprovisionatanamountequivalenttotheexpectedcreditlossfortheentireduration.Whenitisunabletoassestheexpectedcreditlossesofasinglefinancialassetatareasonablecost,thecompanycategoriesaccountsreceivableandnotesreceivableintoportfoliosbasedoncreditriskcharacteristics,calculatesexpectedcreditlossesonthebasisofportfolio,anddeterminesthebasisforportfolioandthemethodformeasuringexpectedcreditlossesasfollows:
A.Notesreceivable
| Accountsreceivableportfolio | Basisfordeterminingportfolio | Methodsformeasuringexpectedcreditlosses |
| Bankacceptancebill | Billtype | Basedonhistoricalcreditlossexperience,combinedwithcurrentconditionsandpredictionsoffutureeconomicconditions,calculatetheexpectedcreditlossbydefaultriskexposureandtheexpectedcreditlossratefortheentireduration |
| Commercialacceptancebill | Billtype | Basedonhistoricalcreditlossexperience,combinedwithcurrentconditionsandpredictionsoffutureeconomicconditions,theexpectedcreditlossiscalculatedbydefaultriskexposureandtheexpectedcreditlossratefortheentireduration |
B.Accountsreceivable
| Accountsreceivableportfolio | Basisfordeterminingportfolio | Methodsformeasuringexpectedcreditlosses |
| Salesreceivablesportfolio | Aginganalysis | Basedonhistoricalcreditlossexperience,combinedwithcurrentconditionsandpredictionsoffutureeconomicconditions,prepareacomparisontablebetweentheagingofaccountsreceivableandtheexpectedcreditlossratefortheentireduration,andcalculatetheexpectedcreditloss |
| Specificobjectportfolio | Accountsreceivablebetweenrelatedpartieswithinthescopeofconsolidation,andaccountsreceivablefromgovernmentdepartments | Basedonhistoricalcreditlossexperience,combinedwithcurrentconditionsandpredictionsoffutureeconomicconditions,calculatetheexpectedcreditlossbydefaultriskexposureandtheexpectedcreditlossratefortheentireduration.Theexpectedcreditlossratefortheportfoliois0 |
OtherreceivablesThecompanycategoriesotherreceivablesintoseveralcombinationsbasedoncreditriskcharacteristics,calculatesexpectedcreditlossesonthebasisofportfolio,anddeterminesthebasisforportfolioandthemethodformeasuringexpectedcreditlossesasfollows:
| Otheraccountsreceivableportfolio | Basisfordeterminingportfolio | Methodsformeasuringexpectedcreditlosses |
| Expectedportfolioofcreditriskcharacteristics | Aginganalysis | Basedonhistoricalcreditlossexperience,calculatetheexpectedcreditlossbydefaultriskexposureandtheexpectedcreditlossrateoverthenext12monthsortheentireduration |
| Specificobjectportfolio | Accountsreceivable,margin,deposit,andaccountsreceivablefromgovernmentdepartmentsbetweenrelatedpartieswithinthescopeofconsolidation | Basedonhistoricalcreditlossexperience,calculatetheexpectedcreditlossbydefaultriskexposureandtheexpectedcreditlossrateforthenext12monthsortheentireduration.Theexpectedcreditlossrateforthiscombinationis0 |
DebtinvestmentandotherdebtinvestmentsFordebtinvestmentsandotherdebtinvestments,thecompanycalculatesexpectedcreditlossesbasedonthenatureoftheinvestment,varioustypesofcounterpartyandriskexposure,defaultriskexposure,andexpectedcreditlossrateforthenext12monthsortheentireduration.
Agingoftheagingportfolioandtheexpectedcreditlossratefortheentireduration
| Aging | Accrualratio% |
| Within1year(including1year) | 1.00 |
| 1-2years(including2years) | 10.00 |
| 2-3years(including3years) | 30.00 |
| 3-5years(including5years) | 50.00 |
| Over5years | 80.00 |
AssessmentofsignificantincreaseincreditriskThecompanycomparestheriskofdefaultoffinancialinstrumentsonthebalancesheetdatewiththeriskofdefaultontheinitialrecognitiondatetodeterminetherelativechangeindefaultriskduringtheexpecteddurationoffinancialinstruments,inordertoevaluatewhetherthecreditriskoffinancialinstrumentshassignificantlyincreasedsinceinitialrecognition.Whendeterminingwhethercreditriskhassignificantlyincreasedsinceinitialrecognition,thecompanyconsidersreasonableandevidence-basedinformation,includingforward-lookinginformation,thatcanbeobtainedwithoutunnecessaryadditionalcostsorefforts.Theinformationconsideredbythecompanyincludes:
?Thedebtorfailstopaytheprincipalandinterestontheduedateofthecontract;?Seriousdeteriorationofexternalorinternalcreditratings(ifany)offinancialinstrumentsthathaveoccurredorare
expectedtooccur;
?Seriousdeteriorationofthedebtor'soperatingresultsthathasoccurredorisexpectedtooccur;?Existingoranticipatedchangesintechnology,market,economy,orlegalenvironmentthatwillhaveasignificantadverseimpactonthedebtor'sabilitytorepaythecompany.Basedonthenatureoffinancialinstruments,thecompanyevaluateswhethercreditrisksignificantlyincreasesbasedonindividualfinancialinstrumentsorcombinationsoffinancialinstruments.Whenperformingassessmentbasedonfinancialinstrumentsportfolio,thecompanycanclassifyfinancialinstrumentsbasedoncommoncreditriskcharacteristics,suchasoverdueinformationandcreditriskratings.Iftheoverdueperiodexceeds30days,thecompanydeterminesthatthecreditriskofthefinancialinstrumenthassignificantlyincreased.FinancialassetsthathaveexperiencedcreditimpairmentThecompanyassessesonthebalancesheetdatewhetherfinancialassetsmeasuredatamortizedcostanddebtinvestmentsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincomehaveexperiencedcreditimpairment.Whenoneormoreeventsthathaveanadverseimpactontheexpectedfuturecashflowsofafinancialassetoccur,thefinancialassetbecomesafinancialassetthathasexperiencedcreditimpairment.Evidenceofcreditimpairmentoffinancialassetsincludesthefollowingobservableinformation:
?Theissuerordebtorencounterssignificantfinancialdifficulties;?Thedebtorviolatesthecontract,suchaspayinginterestorprincipalindefaultoroverdue;
?Duetoeconomicorcontractualconsiderationsrelatedtothefinancialdifficultiesofthedebtor,thecompanywillnotmake
anyconcessionstothedebtorunderanyothercircumstances;
?Thedebtorislikelytogobankruptorundergootherfinancialrestructuring;?Thefinancialdifficultiesoftheissuerordebtorhaveledtothedisappearanceoftheactivemarketforthefinancialasset.ReportingofprovisionsforexpectedcreditlossesToreflectthechangesincreditriskoffinancialinstrumentssinceinitialrecognition,thecompanyremeasuresexpectedcreditlossesoneachbalancesheetdate.Theconsequentincreaseorreversaloflossprovisionsshouldberecognizedasimpairmentlossesorgainsinthegainsandlossesofcurrentperiod.Forfinancialassetsmeasuredatamortizedcost,theprovisionforlossesshalloffsetthebookingamountofthefinancialassetasstatedinthebalancesheet;Fordebtinvestmentsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome,thelossprovisionshallberecognizedinothercomprehensiveincomeanddoesnotoffsetthebookingamountofthefinancialasset.Write-offIfthecompanynolongerreasonablyexpectsthecashflowofthefinancialassetcontracttobefullyorpartiallyrecovered,thebookamountofthefinancialassetshallbedirectlywrittendown.Thiswritedownconstitutesthederecognitionofrelatedfinancialassets.Thissituationusuallyoccurswhenthecompanydeterminesthatthedebtordoesnothaveassetsorsourcesofincometogeneratesufficientcashflowtorepaytheamounttobewrittendown.However,accordingtoourcompany’sproceduresforrecoveringduepayments,thefinancialassetsthathavebeenwrittendownmaystillbeaffectedbyexecutionactivities.Incasefinancialassetsthathavebeenwrittendownaresubsequentlyrecovered,thereversedimpairmentlossesshallbebookedintothegainsandlossesofcurrentperiod.
(7)FinancialassettransferFinancialassettransferreferstothetransferordeliveryoffinancialassetstoanotherparty(transferee)otherthantheissuerofthefinancialasset.Ifthecompanyhastransferredalmostalltherisksandrewardsofownershipoffinancialassetstothetransferee,thefinancialassetshallbederecognized;Ifalmostallrisksandrewardsrelatedtoownershipoffinancialassetsareretained,thefinancialassetwillnotbederecognized.Incasethecompanyneithertransfersnorretainsalmostalltherisksandrewardsrelatedtotheownershipoffinancialassets,thefollowingsituationsshallbehandledseparately:ifthecontroloverthefinancialassetisabandoned,thefinancialassetshallbederecognizedandtheresultingassetsandliabilitiesshallberecognized;ifthecontroloverthefinancialassetisnotabandoned,therelevantfinancialassetshallberecognizedbasedonthecontinuedinvolvementofthecompanyinthetransferredfinancialasset,andcorrespondingliabilitiesshallberecognized.
(8)Balance-outbetweenthefinancialassetsandliabilitiesAsthecompanyhasthelegalrighttobalanceoutthefinancialliabilitiesbythenetorliquidationofthefinancialassets,thebalance-outsumbetweenthefinancialassetsandliabilitiesislistedinthebalancesheet.Inaddition,thefinancialassetsandliabilitiesarelistedinthebalancesheetwithoutbeingbalancedout.
12.Notereceivable
13.Accountreceivable
14.Receivablefinancing
15.Otheraccountreceivable
16.Contractasset
17.Inventory
(1)ClassificationofinventoryInventoryincludesrawmaterials,revolvingmaterial,goodsinprocess,goodsintransitandworkinprocess-outsourcedandsoon.
(2)ValuationmethodsfordeliveryofinventoryTheinventoryofthecompanyisvaluedatactualcostuponacquisition.Therawmaterials,andinventorygoodsarepricedusingtheweightedaveragemethodorindividualvaluationmethodatthetimeofshipping.
(3)DeterminationbasisandprovisionmethodforinventorydepreciationreservesOnthebalancesheetdate,inventoryismeasuredatthelowerbetweencostandnetrealizablevalue.Whenitsnetrealizablevalueislowerthancost,theinventoryimpairmentprovisionismade.Thenetrealizablevalueistheamountobtainedbysubtractingtheestimatedcosttobeincurreduntilcompletion,estimatedsalesexpenses,andrelatedtaxesfromtheestimatedsellingpriceofinventory.Whendeterminingthenetrealizablevalueofinventory,itisbasedonconclusiveevidenceobtained,whileconsideringthepurposeofholdinginventoryandtheimpactofeventsafterthebalancesheetdate.Thecompanyusuallymakesinventoryimpairmentprovisionbasedonindividualinventoryitems.Onthebalancesheetdate,ifthefactorsaffectingthepreviouswrite-downofinventoryvaluehavedisappeared,theinventoryimpairmentprovisionshallbereversedwithintheoriginallyprovisionedamount.
(4)InventorysystemInventorysystemistheperpetualinventorysystem.
(5)Amortizationoflow-valueconsumablesandpackagingmaterialsLow-valueconsumablesandpackagingmaterialsadoptthemethodofprimaryresale;
18.Assetheldforsale
19.Debtinvestment
20.Otherequityinvestment
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-termequityinvestmentsobtainedthroughtheissuanceofequitysecurities,thefairvalueoftheissuedequitysecuritiesshallbetheinitialinvestmentcost.
(2)SubsequentmeasurementandrecognitionmethodsofgainsandlossesInvestmentsinsubsidiariesaremeasuredwiththecostmethod,unlesstheinvestmentmeetstheconditionsforholdingforsale;Investmentsinassociatedenterprisesandjointventuresaremeasuredwithequitymethod.Forthelongtermequityinvestmentsmeasuredwithcostmethod,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.Iftheoriginalequityisclassifiedasanontradingequityinstrumentinvestmentmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome,thecumulativefairvaluechangesrelatedthatwereoriginallyrecognizedinothercomprehensiveincomeshallbetransferredtoretainedincomewhentheequitymethodisusedforaccounting.Ifthejointcontrolorsignificantimpactontheinvestedentityislostduetothedisposalofsomeequityinvestmentsorotherreasons,theremainingequityafterdisposalshallbesubjecttoaccountingtreatmentinaccordancewithAccountingStandardsforEnterprisesNo.22-RecognitionandMeasurementofFinancialInstrumentsonthedateoflossofjointcontrolorsignificantimpact,andthedifferencebetweenfairvalueandbookvalueshallberecognizedingainsandlossesincurrentperiod.Othercomprehensiveincomerecognizedforequityinvestmentswithequitymethodshallbemeasuredonthesamebasisasthedirectdisposalofrelevantassetsorliabilitiesbytheinvestedentitywhentheequitymethodisterminated;Otherchangesinshareholders'equityrelatedtotheoriginalequityinvestmentaretransferredtogainsandlossesincurrentperiod.Ifcontrolovertheinvesteeislostduetothedisposalofaportionofequityinvestmentorotherreasons,andtheremainingequityafterdisposalcanexercisejointcontrolorsignificantinfluenceovertheinvestee,itshallbemeasuredwithequitymethod,andtheremainingequityshallbedeemedtobeadjustedwiththeequitymethodfromthetimeofacquisition;Iftheremainingequityafterdisposalcannotexercisejointcontrolorhaveasignificantimpactontheinvestedentity,itshallbemeasuredinaccordancewiththerelevantprovisionsofEnterpriseAccountingStandardNo.22-RecognitionandMeasurementofFinancialInstruments.Thedifferencebetweenthefairvalueandthebookvalueonthedateoflossofcontrolshallberecognizedingainsandlossesincurrentperiod.IftheshareholdingratiooftheCompanydecreasesduetocapitalincreasebyotherinvestors,andthecompanylosescontrolovertheinvestedentitybutisabletoexercisejointcontrolorexertsignificantinfluenceontheinvestedentity,theCompanyshallrecognizetherisingnetassetsoftheinvestedentityheldbythecompanyduetocapitalincreaseandshareexpansionaccordingtothenewshareholdingratio,andthedifferencebetweentheoriginalbookvalueofthelong-termequityinvestmentcorrespondingtothedecreaseinshareholdingratiothatshouldbecarriedforwardshallbeincludedinthecurrentgainsandlosses,andthenitshallbeadjustedintermsofthenewshareholdingratiojustasitismeasuredwithequitymethodwhentheinvestmentisobtained.TheunrealizedinternaltransactiongainsandlossesbetweentheCompanyanditsassociatedenterprisesandjointventuresshallbecalculatedintermsoftheproportionofshareholdingandrecognizedasinvestmentgainsandlossesonthebasisofoffsetting.However,theunrealizedinternaltransactionlossesincurredbytheCompanyandtheinvestedentity,whichistheimpairmentlossesofthetransferredassets,shallnotbeoffset.
(3)CriteriaofjointcontrolandsignificantinfluenceJointcontrolistheCompany’scontractuallyagreedsharingofcontroloveranarrangement,whichrelevantactivitiesofsucharrangementmustbedecidedbyunanimouslyagreementfrompartieswhosharecontrol.Whendeterminingwhetherthereisjointcontrol,firstlyjudgewhetheralltheparticipantsorparticipantgrouphavecontrollingoversucharrangementasagroupornot,andthenjudgewhetherthedecision-makingforsucharrangementareagreedunanimitybytheparticipantsornot.Ifallparticipantsoragroupofparticipantsmustacttogethertodeterminetherelevantactivitiesofacertainarrangement,itisconsideredthatallparticipantsoragroupofparticipantscollectivelycontrolthearrangement;Iftherearetwoormoreportfoliosofparticipantstocollectivelycontrolacertainarrangement,itdoesnotconstitutejointcontrol.Whendeterminingwhetherthereisjointcontrol,theprotectiverightsenjoyedarenotconsidered.SignificantinfluenceisthepoweroftheCompanytoparticipateinthefinancialandoperatingpolicydecisionsofaninvestedparty,buttofailtocontrolorjointcontroltheformulationofsuchpoliciestogetherwithotherparties.Whendeterminingwhether
significantinfluencecanbeexertedontheinvestedentity,thepotentialfactorsofvotingpowerascurrentconvertiblebondsandcurrentexecutablewarrantoftheinvestedpartyheldbyinvestorsandotherpartiesshallbeconsidered.Whenthecompanydirectlyorindirectlyownsmorethan20%(inclusive)butlessthan50%ofthevotingsharesoftheinvestedentitythroughitssubsidiaries,itisgenerallyconsideredtohaveasignificantimpactontheinvestedentity,unlessthereisclearevidencethatitcannotparticipateintheproductionandoperationdecisionsoftheinvestedentityanddoesnotformasignificantimpact;Whenthecompanyownslessthan20%(exclusive)ofthevotingsharesoftheinvestedentity,itisgenerallynotconsideredtohaveasignificantimpactontheinvestedentity,unlessthereisclearevidencethatitcanparticipateintheproductionandoperationdecisionsoftheinvestedunitandformasignificantimpact.
(4)ImpairmenttestingmethodsandimpairmentprovisionmethodsRefertoNoteIII.23ofauditor’sreportforthemethodformakingassetimpairmentforinvestmentsinsubsidiaries,associatedenterprisesandjointventures.
23.Investmentrealestate
MeasurementmodelforinvestmentrealestateMeasuredwithcostmethodDepreciationoramortizationmethodsInvestmentrealestatereferstorealestateheldforthepurposeofearningrentorcapitalappreciation,orboth.Thecompany’sinvestmentrealestateincludesleasedlanduserights,landuserightsheldandpreparedfortransferafterappreciation,andleasedbuildings.Thecompany'sinvestmentrealestateisinitiallymeasuredatcostatthetimeofacquisitionanddepreciatedoramortizedonaregularbasisinaccordancewithrelevantregulationsforfixedorintangibleassets.Forinvestmentpropertiesthataresubsequentlymeasuredwithcostmodel,themethodforimpairmentofassetsisshowninNoteIII.23.Thedifferencebetweenthedisposalincomefromsale,transfer,scrapping,ordamageofinvestmentrealestateafterdeductingitsbookvalueandrelatedtaxesandfeesisrecognizedingainsandlossesincurrentperiod.
24.Fixedassets
(1)Recognitionconditions
Thecompany’sfixedassetsrefertotangibleassetsheldfortheproductionofgoods,provisionofservices,rentalorbusinessmanagement,withausefullifeexceedingoneaccountingyear.Fixedassetscanonlyberecognizedwhentheeconomicbenefitsrelatedtothefixedassetarelikelytoflowintotheenterpriseandthecostofthefixedassetcanbereliablymeasured.Thecompany’sfixedassetsareinitiallymeasuredattheiractualcostatthetimeofacquisition.Subsequentexpensesrelatedtofixedassetsarerecognizedasfixedassetcostswhentheeconomicbenefitsrelatedtothemarelikelytoflowintothecompanyandtheircostscanbereliablymeasured;Thedailyrepairexpensesoffixedassetsthatdonotmeetthesubsequentexpenditureconditionsforcapitalizationoffixedassetsshallberecognizedingainsandlossesincurrentperiodorinthecostofrelatedassetsaccordingtothebeneficiariesatthetimeofoccurrence.Forthereplacedpart,itsbookvalueshallbeterminated.
(2)Depreciationmethod
| Category | Method | Yearsofdepreciation | Scrapvaluerate | Yearlydepreciationrate |
| Houseandbuildings | ||||
| Productionbuildings | Straight-linedepreciation | 20-35 | 5 | 2.71-4.75 |
| Non-productionbuildings | Straight-linedepreciation | 20-40 | 5 | 2.38-4.75 |
| Temporarydormitoryandsimpleroometc. | Straight-linedepreciation | 5-15 | 5 | 6.33-19.00 |
| Gasstoragebin | Straight-linedepreciation | 20 | 5 | 4.75 |
| Silo | Straight-linedepreciation | 50 | 5 | 1.9 |
| Wharfandsupportingfacilities | Straight-linedepreciation | 50 | 5 | 1.9 |
| Machineryequipment | Straight-linedepreciation | |||
| Othermachineryequipment | Straight-linedepreciation | 10-20 | 5 | 4.75-9.50 |
| Warehousetransmissionequipment | Straight-linedepreciation | 20 | 5 | 4.75 |
| Transportequipment | Straight-linedepreciation | 3-10 | 5 | 9.50-31.67 |
| Electronicequipmentandothers | Straight-linedepreciation | 2-10 | 5 | 9.50-47.50 |
Amongthem,forfixedassetswithprovisionforimpairment,thecumulativeamountofprovisionforimpairmentoffixedassetsshouldalsobedeductedtodeterminethedepreciationrate.
25.Constructioninprogress
Thecostofconstructioninprogressofthecompanyisdeterminedbasedonactualprojectexpenses,includingnecessaryprojectexpensesincurredduringtheconstructionperiod,borrowingcoststhatshouldbecapitalizedbeforetheprojectreachesitsintendedusablestate,andotherrelatedexpenses.Constructioninprogressistransferredtofixedassetswhenitreachesitsintendedusablestate,anddepreciationisaccruedstartingfromthefollowingmonth.ThemethodforimpairmentofassetsforconstructioninprogresscanbefoundinNoteIII.23oftheauditor’sreport.
26.Borrowingexpenses
（
）Recognitionoftheborrowingexpensescapitalization
Theborrowingcostsincurredbythecompany,whichcanbedirectlyattributedtotheacquisition,constructionorproductionofassetsthatmeetthecapitalizationconditions,shallbecapitalizedandincludedintherelevantassetcosts;Otherborrowingcostsarerecognizedasexpensesbasedontheiramountatthetimeofoccurrenceandincludedinthecurrentprofitandloss.Theborrowingcostsmeetingthefollowingconditionssimultaneouslyshallbecapitalized:
①Assetexpenseshavealreadyoccurred,includingexpensesincurredintheformofcashpayments,transferofnon-cashassets,orassuminginterestbearingdebtsforthepurchase,construction,orproductionofassetsthatmeetcapitalizationconditions;
②Theborrowingcostshavealreadybeenincurred;
③Thenecessarypurchase,constructionorproductionactivitiestobringtheassetstotheirintendedusableorsaleablestatehavealreadybegun.
(2)DuringthecapitalizationperiodofborrowingcostsWhenassetspurchasedorproducedbythecompanythatmeetcapitalizationconditionsreachtheintendedusableorsaleablestate,thecapitalizationofborrowingcostsshallbeceased.Theborrowingcostsincurredaftertheassetsthatmeetthecapitalizationconditionsreachtheirintendedusableorsaleablestatusarerecognizedasexpensesbasedontheiramountatthetimeofoccurrenceandrecognizedingainsandlossesincurrentperiod.Ifassetsthatmeetthecapitalizationcriteriaexperienceabnormalinterruptionsduringthepurchase,construction,orproductionprocess,andtheinterruptionlastsformorethanthreeconsecutivemonths,thecapitalizationofborrowingcostsshallbesuspended;Theborrowingcostsduringthenormalinterruptionperiodcontinuetobecapitalized.
(3)ThecapitalizationrateofborrowingcostsandthecalculationmethodofcapitalizationamountTheactualinterestexpensesincurredinthecurrentperiodofspecializedborrowing,minustheinterestincomeobtainedfromdepositingunusedborrowingfundsintobanksortheinvestmentincomeobtainedfromtemporaryinvestments,shallbecapitalized;Thecapitalizationamountofgeneralborrowingisdeterminedbymultiplyingtheweightedaverageoftheaccumulatedassetexpendituresthatexceedtheportionofspecializedborrowingbythecapitalizationrateofthegeneralborrowingused.Thecapitalizationrateisdeterminedbasedontheweightedaverageinterestrateofgeneralborrowing.Duringthecapitalizationperiod,allexchangedifferencesonforeigncurrencyborrowingsshallbecapitalized;Theexchangedifferenceofforeigncurrencygeneralborrowingsisrecognizedingainsandlossesincurrentperiod.
27.Biologicalassets
(1)CriteriafordeterminingbiologicalassetsBiologicalassetsrefertoassetscomposedoflivinganimalsandplants.Biologicalassetsthatsimultaneouslymeetthefollowingconditionsshallberecognized:
①Assetexpenseshavealreadyoccurred,includingexpensesincurredintheformofcashpayments,transferofnon-cashassets,orassuminginterestbearingdebtsforthepurchase,construction,orproductionofassetsthatmeetcapitalizationconditions;
②Theborrowingcostshavealreadybeenincurred;
③Thenecessarypurchase,constructionorproductionactivitiestobringtheassetstotheirintendedusableorsaleablestatehavealreadybegun.
(2)ClassificationofbiologicalassetsBiologicalassetsincludeconsumablebiologicalassets,productivebiologicalassets,andpublicwelfarebiologicalassets.Thebiologicalassetsofthecompanyareproductivebiologicalassets.①ConsumablebiologicalassetsConsumablebiologicalassetsrefertobiologicalassetsheldforsaleorharvestedinthefutureasagriculturalproducts.Consumablebiologicalassetsareinitiallymeasuredatcost.Thecostofselfcultivation,cultivation,reproduction,orbreedingofconsumablebiologicalassetsreferstothenecessaryexpensesthatcanbedirectlyattributedtotheassetbeforecanopyclosure,includingborrowingcoststhatmeetcapitalizationconditions.Thesubsequentexpensesincurredbyconsumptivebiologicalassetsafterclosure
arerecognizedingainsandlossesincurrentperiod.②ProductivebiologicalassetsProductivebiologicalassetsrefertobiologicalassetsheldforthepurposeofproducingagriculturalproducts,providingservices,orrenting.Productivebiologicalassetsareinitiallymeasuredatcost.Subsequentexpensesincurredonproductivebiologicalassetsafterachievingtheintendedproductionandoperationobjectivesarerecognizedingainsandlossesincurrentperiod.Themainproductivebiologicalassetsofthecompanyareteatrees.Forproductivebiologicalassetsthatachievethepredeterminedproductionandoperationobjectives,depreciationismadewiththestraight-linemethod.Theusefullifeisdeterminedastheremaininglifeoflanduseafterdeductingtheimmatureperiodofteatrees(5years),witharesidualvaluerateof5.00%.Afterdeductingresidualvaluefromtheestimatedusefullifeofbiologicalassets,thedepreciationrateisdeterminedasfollows:
| Categoryofproductivebiologicalassets | Usefullife(years) | Residualvaluerate% | Annualdepreciationrate% |
| Tea | 45 | 0.00 | 2.22 |
Ourcompanyshallreviewtheusefullife,estimatednetresidualvalue,anddepreciationmethodofproductivebiologicalassetsatleastattheendoftheyear.Anychangesshallbetreatedaschangesinaccountingestimates.Thedifferencebetweenthedisposalincomefromthesale,inventoryloss,deathordamageofproductivebiologicalassets,afterdeductingtheirbookvalueandrelatedtaxesandfees,isrecognizedingainsandlossesincurrentperiod.③PublicwelfarebiologicalassetsPublicwelfarebiologicalassetsrefertobiologicalassetsprimarilyaimedatprotectionandenvironmentalprotection.Publicwelfarebiologicalassetsareinitiallymeasuredatcost.Thecostofselfcreatedpublicwelfarebiologicalassetsreferstothenecessaryexpensesthatcanbedirectlyattributedtotheassetbeforeclosing,includingborrowingcoststhatmeetcapitalizationconditions.Thesubsequentexpensesincurredbypublicwelfarebiologicalassetsafterclosingarerecognizedingainsandlossesincurrentperiod.Publicwelfarebiologicalassetsaresubsequentlymeasuredatcost.Publicwelfarebiologicalassetsarenotsubjecttoprovisionforassetimpairment.Thedifferencebetweenthedisposalincomefromthesale,inventoryloss,deathordamageofpublicwelfarebiologicalassets,afterdeductingtheirbookvalueandrelevanttaxesandfees,isrecognizedingainsandlossesincurrentperiod.
(3)TreatmentofimpairmentofbiologicalassetsIfthenetrealizablevalueofconsumablebiologicalassetsislowerthantheirbookvalue,aprovisionforimpairmentofbiologicalassetsshallbemadeintermsofthedifferencebetweenthenetrealizablevalueandthebookvalue,andshallbebookedintogainsandlossesincurrentperiod.Ifthefactorsaffectingtheimpairmentofconsumablebiologicalassetshavedisappeared,thewrite-downamountshouldberestoredandreversedwithintheoriginalprovisionforimpairment,andthereversedamountshouldberecognizedingainsandlossesincurrentperiod.ThemethodforimpairmentofproductivebiologicalassetscanbefoundinNoteIII.23oftheauditor’sreport.Noprovisionforimpairmentismadeforpublicwelfarebiologicalassets.
28.Oilandgasassets
29.Intangibleassets
(1)Servicelifeanditsdeterminationbasis,estimatedsituation,amortizationmethodorreviewprocedure
Theintangibleassetsofthecompanyincludelanduserights,forestuserights,trademarkuserights,storeoperationrights,softwareuserights,patents,andothers.Intangibleassetsareinitiallymeasuredatcostandanalyzedfortheirusefullifeuponacquisition.Forintangibleassetswithalimitedusefullife,theamortizationmethodthatreflectstheexpectedrealizationofeconomicbenefitsrelatedtotheassetshallbeadoptedfromthetimewhentheintangibleassetisavailableforuse,andshallbeamortizedwithintheexpectedusefullife;Iftheexpectedimplementationmethodcannotbereliablydetermined,thestraight-linemethodshallbeusedforamortization;Intangibleassetswithuncertainusefullivesarenotamortized.Theamortizationmethodforintangibleassetswithlimitedservicelifeisasfollows:
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.23oftheauditor’sreport.
(2)ThecollectionscopeandrelatedaccountingtreatmentmethodsofR&Dexpenditure
1.GeneralprinciplesTheR&DexpensesofthecompanyaredirectlyrelatedtoourR&Dactivities,includingemployeesalaries,directinvestmentexpenses,depreciationexpensesandlong-termdeferredexpenses,designexpenses,equipmentdebuggingexpenses,intangibleassetamortizationexpenses,andotherexpenses.ThesalariesofR&DpersonnelareallocatedtoR&Dexpensesbasedonprojectworkinghours.Thesharingofequipment,productionlines,andvenuesbetweenR&DactivitiesandotherproductionandoperationactivitiesisallocatedasR&Dexpensesbasedontheproportionofworkinghoursandarea.ThecompanydistinguishestheexpensesforinternalR&Dprojectsintoresearchstageexpensesanddevelopmentstageexpenses.Researchstage:Thestageofcreativeandplannedinvestigationandresearchactivitiesaimedatacquiringandunderstandingnew
scientificortechnologicalknowledge.Developmentstage:Thestageinwhichresearchresultsorotherknowledgeareappliedtoaplanordesigntoproduceneworsubstantiallyimprovedmaterials,devices,products,andotheractivitiesbeforecommercialproductionoruse.Theexpensesincurredduringtheresearchphasearerecognizedinthegainsandprofitsofcurrentperiodwhenincurred.Expendituresduringthedevelopmentphasecanonlybecapitalizediftheymeetthefollowingconditions:completingtheintangibleassettomakeittechnicallyfeasibleforuseorsale;Hastheintentiontocompletetheintangibleassetanduseorsellit;Thewaysinwhichintangibleassetsgenerateeconomicbenefits,includingtheabilitytoprovethattheproductsproducedwiththeintangibleassetortheintangibleassetaremarketable,andtheabilitytoproveitsusefulnessiftheintangibleassetwillbeusedinternally;Havesufficienttechnical,financial,andotherresourcestosupportthedevelopmentoftheintangibleassetandtheabilitytouseorselltheintangibleasset;Theexpensesattributabletothedevelopmentstageoftheintangibleassetcanbereliablymeasured.Developmentexpensesthatdonotmeettheaboveconditionsarerecognizedinthegainsandprofitsofcurrentperiod.Aftermeetingtheaboveconditionsandconductingtechnicalandeconomicfeasibilitystudies,thecompany'sR&Dprojectentersthedevelopmentstageafterbeingapproved.Thecapitalizedexpensesduringthedevelopmentstagearelistedasdevelopmentexpensesonthebalancesheetandareconvertedintointangibleassetsfromthedatetheprojectreachesitsintendeduse.
2.CapitalizationconditionsforspecificR&DprojectsAftertheR&Dprogressmeetsthefollowingthreeconditions,theprojectbeginstobecapitalized:①Technicallyfeasible,theoreticallyrelativelymature,preliminaryprocesscomplete,andcanbetransferredtotheactualproductionstagetofurtheroptimizeandimprovetheprocess;②Thetechnicalachievementsofprojectresearchanddevelopmentarefeasibleandcanbeappliedtotheproductionorimprovementofsimilarproducts;③Theprojecttechnologyhasthevalueandpossibilityofapplyingforinventionpatents,andcanalsobeusedasproprietarytechnologyofthecompany.
30.Impairmentoflong-termassets
Theimpairmentofassetssuchaslong-termequityinvestmentsinsubsidiaries,associatedenterprises,andjointventures,investmentrealestate,fixedassets,constructioninprogress,productivebiologicalassetsmeasuredwithcostmodels,right-of-useassets,intangibleassets,andgoodwill(excludinginventory,deferredincometaxassets,andfinancialassets)shallbedeterminedwiththefollowingmethod:
Onthebalancesheetdate,itisdeterminedwhetherthereareanysignsofpossibleimpairmentofassets.Iftherearesignsofimpairment,thecompanywillestimateitsrecoverableamountandconductimpairmenttesting.Impairmenttestsareconductedannuallyforgoodwill,intangibleassetswithuncertainusefullives,andintangibleassetsthathavenotyetreachedausablestate,regardlessofwhethertherearesignsofimpairment,resultingfrombusinessmergers.Therecoverableamountisdeterminedbasedonthehigherofthenetamountafterdeductingdisposalexpensesfromthefairvalueoftheassetandthepresentvalueoftheexpectedfuturecashflowsoftheasset.Thecompanyestimatesitsrecoverableamountbasedonindividualassets;Ifitisdifficulttoestimatetherecoverableamountofasingleasset,therecoverableamountoftheassetgroupshallbedeterminedbasedontheassetgrouptowhichtheassetbelongs.Therecognitionofanassetgroupisbasedonwhetherthemaincashinflowsgeneratedbytheassetgroupareindependentofthecashinflowsofotherassetsorassetgroups.Whentherecoverableamountofanassetorassetgroupislowerthanitsbookvalue,thecompanywillwritedownitsbookvaluetotherecoverableamount,andthewrittendownamountwillberecognizedinthegainsandprofitsofcurrentperiod,whilemakingcorrespondingprovisionsforassetimpairment.
Asfortheimpairmenttestofgoodwill,thebookvalueofgoodwillformedbyenterprisemergershallbeallocatedtotherelevantassetgroupinareasonablemannerfromthedateofpurchase;Ifitisdifficulttoallocatetotherelevantassetgroups,allocateittotherelevantassetgroupportfolio.Therelevantassetgroupsorassetgroupportfoliorefertoassetgroupsorassetgroupportfoliothatcanbenefitfromthesynergisticeffectsofenterprisemergers,andarenotlargerthanthereportingbranchesdeterminedbythecompany.Whenconductingimpairmenttesting,iftherearesignsofimpairmentinassetgroupsorassetgroupportfoliosrelatedtogoodwill,thefirststepistoconductimpairmenttestingonassetgroupsorassetgroupportfoliothatdonotincludegoodwill,calculatetherecoverableamount,andrecognizethecorrespondingimpairmentlosses.Thenconductimpairmenttestsonassetgroupsorassetgroupcombinationscontaininggoodwill,andcomparetheirbookvaluewiththeirrecoverableamount.Iftherecoverableamountislowerthanthebookvalue,recognizeimpairmentlossesongoodwill.Onceassetimpairmentlossesarerecognized,theywillnotbereversedinfutureaccountingperiods.
31.LongtermdeferredexpensesThelong-termdeferredexpensesincurredbythecompanyarevaluedatactualcostandamortizedonanaverageovertheexpectedbenefitperiod.Forlong-termdeferredexpensesthatcannotbenefitfutureaccountingperiods,theiramortizedvalueisfullyrecognizedinthegainsandprofitsofcurrentperiod.
32.Contractliabilities
33.Employeecompensation
(1)Accountingtreatmentmethodsforshort-termcompensation
Duringtheaccountingperiodwhentheemployeesproviderservicetothecompany,theactualemployeewages,bonuses,medicalinsurancepremiums,work-relatedinjuryinsurancepremiums,maternityinsurancepremiums,andhousingprovidentfundpaidtoemployeesaccordingtoprescribedstandardsandproportionsarerecognizedasliabilitiesandincludedinthegainsandprofitsofcurrentperiodorrelatedassetcosts.
(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-termemployeebenefits
Otherlong-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.Revenue
Disclosureofaccountingpoliciesadoptedforrevenuerecognitionandmeasurementbybusinesstype
(1)GeneralprinciplesThecompanyrecognizesrevenuewhenthecustomeracquirescontroloftherelevantgoodsorservicesinaccordancewiththecontractualobligations.Ifthecontractcontainstwoormoreperformanceobligations,thecompanyshall,onthecommencementdateofthecontract,allocatethetransactionpricetoeachindividualperformanceobligationbasedontherelativeproportionoftheindividualsellingpriceofthegoodsorservicespromisedbyeachindividualperformanceobligation,andmeasurerevenuebasedonthetransactionpriceallocatedtoeachindividualperformanceobligation.Ifoneofthefollowingconditionsismet,itistofulfilltheperformanceobligationwithinacertainperiodoftime;Otherwise,itistofulfiltheperformanceobligationatacertainpointoftime:
①Thecustomerobtainsandconsumestheeconomicbenefitsbroughtbythecompany'sperformanceatthesametimeasthecompanyfulfillsitsobligations.
②Customersareabletocontrolthegoodsunderconstructionduringthefulfillmentprocessofthecompany.
③Thegoodsproducedbythecompanyduringtheperformanceprocesshaveirreplaceableuses,andthecompanyhastherighttocollectpaymentsforthecumulativecompletedperformanceportionthroughouttheentirecontractperiod.Forperformanceobligationsperformedduringacertainperiodoftime,thecompanyrecognizesrevenuebasedontheprogressofperformanceduringthatperiod.Incasetheprogressofperformancecannotbereasonablydetermined,whenthecostsalreadyincurredbythecompanyareexpectedtobecompensated,revenueshallberecognizedintermsoftheamountofcostsalreadyincurreduntiltheprogressofperformancecanbereasonablydetermined.Forperformanceobligationsperformedatacertainpointoftime,thecompanyrecognizesrevenueatthepointwhenthecustomerobtainscontroloftherelevantgoodsorservices.Whendeterminingwhetheracustomerhasacquiredcontrolovergoodsorservices,ourcompanywillconsiderthefollowingsigns:
①Thecompanyhasthecurrentpaymentrightforthegoodsorservices,whichmeansthatthecustomerhasacurrentpaymentobligationforthegoods.
②Thecompanyhastransferredthelegalownershipoftheproducttothecustomer,thatis,thecustomeralreadyhaslegalownershipoftheproduct.③Thecompanyhastransferredthephysicalownershipoftheproducttothecustomer,whichmeansthecustomerhasalreadytaken
possessionoftheproduct.④Thecompanyhastransferredthemainrisksandrewardsofownershipoftheproducttothecustomer,thatis,thecustomerhasacquiredthemainrisksandrewardsofownershipoftheproduct.
⑤Thecustomerhasacceptedtheproductorservice.⑥Othersignsindicatingthatthecustomerhasobtainedcontrolovertheproduct.
(2)Specificmethods①Revenuefromsalesofgoods:Therevenueisrecognizedafterthegoodssolddomesticallyhavebeendeliveredandmeettherelevanttermsandconditionsstipulatedinthecontract;Therevenueofexportsalesisrecognizedafterthegoodshavebeenshippedanddeclared,andmeettherelevanttermsandconditionsstipulatedinthecontract.
②Incomefromprovidinglaborservices:ThecompanyprovidesdynamicgrainandoilreservesandrotationservicestotheShenzhenMunicipalGovernment,andrecognizesincomewhenrelevantlaboractivitiesoccur.Specifically,theincomefromgrainandoilreservesiscalculatedandrecognizedmonthlybasedontheactualamountofgrainandoilreservesandthereservepricesspecifiedintheShenzhenMunicipalGovernmentGrainReserveCostContractOperatingRegulationsandtheShenzhenMunicipalEdibleVegetableOilGovernmentReserveCostContractOperatingRegulations.
③Otherincome:Theamountofusagefeeincomeshallbecalculatedanddeterminedinaccordancewiththechargingtimeandmethodstipulatedintherelevantcontractoragreement;Forincomefromleasingofrealestate,dockwarehouses,andotherproperties,aswellastherevenuefromdockdockingbusiness,thepropertyrentrevenueandwarehousingandlogisticsrevenueshallbecalculatedandrecognizedaccordingtothechargingtimeandmethodstipulatedinthecontractoragreement.Incasesimilarbusinessesadoptdifferentbusinessmodels,differentrevenuerecognitionmethodsandmeasurementmethodswillbeinvolved.
38.Contractcost
Thecontractcostincludestheincrementalcostincurredtoobtainthecontractandthecontractperformancecost.Theincrementalcostincurredtoobtainthecontractreferstothecostthatthecompanywouldnothaveincurredwithoutobtainingthecontract(suchassalescommission).Thecostwhichisexpectedtoberecoveredwillberecognizedbythecompanyasacontractacquisitioncostandasanasset.Exceptfortheexpectedincrementalcoststhatcanberecovered,otherexpensesincurredbythecompanytoobtainthecontractshallbebookedinthegainsandprofitsofcurrentperiod.Ifthecostincurredinfulfillingacontractdoesnotfallwithinthescopeofaccountingstandardsforotherenterprisessuchasinventoryandmeetsthefollowingconditionssimultaneously,thecompanyrecognizesitasacontractperformancecostasanasset:
①Thecostisdirectlyrelatedtoacurrentorexpectedcontract,includingdirectlabor,directmaterials,manufacturingexpenses(orsimilarexpenses),costsclearlybornebythecustomer,andothercostsincurredsolelyduetothecontract;
②Thiscostincreasestheresourcesthatthecompanywilluseinthefuturetofulfillitscontractualobligations;③Thecostisexpectedtoberecovered.Theassetsrecognizedforcontractacquisitioncostsandtheassetsrecognizedforcontractperformancecosts(hereinafterreferredtoas“assetsrelatedtocontractcosts”)areamortizedonthesamebasisastherecognitionofgoodsorservicesrevenuerelatedtotheassets,andarebookedinthegainsandprofitsofcurrentperiod.Iftheamortizationperioddoesnotexceedoneyear,itshallberecognizedinthecurrentprofitandlosswhenitoccurs.
Incasethebookvalueofassetsrelatedtocontractcostsexceedsthedifferencebetweenthefollowingtwoitems,thecompanymakesimpairmentprovisionsfortheexcessandrecognizesitasanassetimpairmentloss:
①Theexpectedremainingconsiderationthatourcompanycanobtainforthetransferofgoodsorservicesrelatedtotheasset;
②Theestimatedcosttobeincurredforthetransferoftherelevantgoodsorservices.
39.Governmentgrant
Governmentgrantisrecognizedwhentheymeettheconditionsattachedtogovernmentgrantsandcanbereceived.Basedontheessenceofeconomictransactions,thecompanydetermineswhetheracertaintypeofgovernmentgrantbusinessshouldbemeasuredwiththetotalamountmethodorthenetamountmethod.Normally,thecompanyonlyusesonemethodforthesameorsimilargovernmentsubsidybusinesses,andconsistentlyappliesthismethodforthatbusiness.
| Item | Accountingcontent |
| Governmentgrantmeasuredwithtotalamountmethod | Allgovernmentgrantbusinesses |
Governmentgrantasmonetaryassetsshallbemeasuredattheamountreceivedorreceivable.Thegovernmentgrantsasnon-monetaryassetsshallbemeasuredatfairvalue;Ifthefairvaluecannotbereliablyobtained,itshallbemeasuredatanominalamountof1yuan.Asset-relatedgovernmentsubsidiesrefertogovernmentgrantsobtainedbythecompanyforthepurchase,construction,orotherformationoflong-termassets;Othersareincome-relatedgovernmentgrants.Forthosewhosetargetsarenotclearlyspecifiedingovernmentdocumentsandformlong-termassets,thegovernmentgrantcorrespondingtotheassetvalueshallberegardedasasset-relatedgovernmentgrants,andtheremainingpartshallberegardedasincome-relatedgovernmentgrants;Incaseitisdifficulttomakedistinguishing,thegovernmentgrantsasawholeshallberegardedasincome-relatedgovernmentgrants.Asset-relatedgovernmentgrantsarerecognizedasdeferredincomeandbookedingainsandlossesinareasonableandsystematicmannerovertheusefullifeoftherelevantassets.Income-relatedgovernmentsubsidieswhichareusedtocompensaterelatedcostsorlossesthathavealreadyoccurred,shallbeincludedinthegainsandprofitsofcurrentperiod;Theincome-relatedgovernmentsubsidieswhichareusedtocompensaterelatedcostsorlossesinfutureperiodsshallberecognizedindeferredincomeandrecognizedingainsandlossesofcurrentperiodduringtherecognitionperiodofrelatedcostsorlosses.Governmentgrantsmeasuredatnominalamountsaredirectlyrecognizedinthegainsandprofitsofcurrentperiod.Thecompanyadoptsaconsistentapproachforhandlingthesameorsimilargovernmentsubsidybusinesses.Governmentgrantsrelatedtodailyactivitiesarerecognizedinotherincomebasedontheessenceofeconomictransactions.Governmentsubsidiesunrelatedtodailyactivitiesareincludedinnon-operatingincome.Whenrecognizedgovernmentsubsidiesneedtobereturned,incasethebookvalueoftherelevantassetsisoffsetattheinitialrecognition,thebookvalueoftheassetsshallbeadjusted;Ifthereisabalanceofrelateddeferredincome,itshalloffsetthebookbalanceofrelateddeferredincome,andtheexcessshallberecognizedinthegainsandprofitsofcurrentperiod;Inothersituations,itshallbedirectlyincludedinthegainsandprofitsofcurrentperiod.Thepolicypreferentialloansandinterestsubsidiesobtainedbythecompanywillbedisposedseparatelybasedonthefollowingtwosituations:
①Thefinancedepartmentallocatesinterestsubsidytothelendingbankandthelendingbankprovidesloanstothecompanyatapolicypreferentialinterestrate:thecompanywillusetheactualreceivedloanamountasthebookvalueoftheloan,andcalculatetherelevantloancostsbasedontheloanprincipalandthepolicypreferentialinterestrate.
②Thefinancedepartmentdirectlyallocatesinterestsubsidytothecompany,thecompanywilloffsettherelevantborrowingcostswiththecorrespondinginterestsubsidy.
40.Deferredincometaxassets/deferredincometaxliabilities
Incometaxincludescurrentincometaxanddeferredincometax.Exceptforadjustmentstogoodwillarisingfromenterprisemergeordeferredincometaxrelatedtotransactionsoreventsdirectlyrecognizedinshareholders’equity,theyareallrecognizedasincometaxexpensesingainsandlossesofcurrentperiod.Thedeferredincometaxisrecognizedwiththebalancesheetliabilitymethodandintermsofthetemporarydifferencebetweenthebookvalueofassetsandliabilitiesonthebalancesheetdateandthetaxbasis.Alltaxabletemporarydifferencesarerecognizedasrelateddeferredincometaxliabilities,unlessthetaxabletemporarydifferencesariseinthefollowingtransactions:
(1)Theinitialrecognitionofgoodwill,ortheinitialrecognitionofassetsorliabilitiesarisingfromtransactionswiththefollowingcharacteristics:thetransactionisnotabusinessmergeranddoesnotaffectaccountingprofitsortaxableincomeatthetimeofthetransaction(exceptforindividualtransactionswheretheinitiallyrecognizedassetsandliabilitiesresultinequaltaxabletemporarydifferencesanddeductibletemporarydifferences);
(2)Fortaxabletemporarydifferencesrelatedtoinvestmentsinsubsidiaries,jointventures,andassociatedenterprises,thetimingofthereversalofsuchtemporarydifferencescanbecontrolledanditislikelythattheywillnotbereversedintheforeseeablefuture.Fordeductibletemporarydifferences,deductiblelossesthatcanbecarriedforwardtofutureyears,andtaxdeductions,thecompanyrecognizesdeferredtaxassetsarisingfromthemtotheextentoffuturetaxableincomethatislikelytobeobtainedforoffsettingdeductibletemporarydifferences,deductiblelosses,andtaxdeductions,unlessthedeductibletemporarydifferencesariseinthefollowingtransactions:
(1)Thistransactionisnotaenterprisemerger,anditdoesnotaffectaccountingprofitsortaxableincomeatthetimeoftransaction(exceptforindividualtransactionswhereinitiallyrecognizedassetsandliabilitiesresultinequaltaxabletemporarydifferencesanddeductibletemporarydifferences);
(2)Fordeductibletemporarydifferencesrelatedtoinvestmentsinsubsidiaries,jointventures,andassociatedenterprises,ifthefollowingconditionsaremetsimultaneously,thecorrespondingdeferredincometaxassetsshallberecognized:temporarydifferencesarelikelytobereversedintheforeseeablefuture,andtaxableincomethatcanbeusedtooffsetdeductibletemporarydifferencesislikelytobeobtainedinthefuture.Onthebalancesheetdate,thecompanymeasuresdeferredincometaxassetsandliabilitiesattheapplicabletaxrateduringtheexpectedperiodofassetrecoveryorliabilitysettlement,andreflectstheincometaximpactoftheexpectedmethodofassetrecoveryorliabilitysettlementonthebalancesheetdate.Onthebalancesheetdate,thecompanyreviewsthebookvalueofdeferredincometaxassets.Ifitislikelythatsufficienttaxableincomewillnotbeobtainedinthefutureperiodtooffsetthebenefitsofdeferredincometaxassets,thebookvalueofdeferredincometaxassetsshallbewrittendown.Whenitishighlypossibletoobtainsufficienttaxableincome,thewrittendownamountshallbereversed.
Onthebalancesheetdate,deferredincometaxassetsanddeferredincometaxliabilitiesarepresentedatthenetamountafteroffsettingwhentheysimultaneouslymeetthefollowingconditions:
(1)Thetaxpayerwithinthecompanyhasthelegalrighttosettlecurrentincometaxassetsandcurrentincometaxliabilitiesonanetbasis;
(2)Deferredincometaxassetsanddeferredincometaxliabilitiesarerelatedtotheincometaxleviedbythesametaxadministrationdepartmentonthesametaxpayerwithinthecompany.
41.Leasing
(1)ThecompanyaslesseeOnthecommencementdateoftheleaseterm,theCompanyrecognizestheright-of-useassetsandleaseliabilitiesforallleases,exceptforsimplifiedshort-termleaseandlowvalueassetlease.Theaccountingpoliciesfortheright-of-useassetscanbefoundinNote3.32oftheauditor’sreport.Theinitialmeasurementofleaseliabilitiesisbasedonthepresentvalueofleasepaymentsthathavenotbeenpaidonthestartdateoftheleaseterm,calculatedusingtheimplicitinterestrateofthelease.Iftheimplicitinterestrateoftheleasecannotbedetermined,theincrementalborrowingrateisusedasthediscountrate.Theleasepaymentamountincludesfixedpaymentamountandsubstantialfixedpaymentamount.Ifthereisaleaseincentive,therelevantamountoftheleaseincentiveshallbededucted;Variableleasepaymentsdependingonindexorratio;Theexercisepriceofthepurchaseoption,providedthatthelesseereasonablydeterminesthattheoptionwillbeexercised;Theamounttobepaidforexercisingtheoptiontoterminatethelease,providedthattheleasetermreflectsthatthelesseewillexercisetheoptiontoterminatethelease;Andtheexpectedamounttobepaidbasedontheresidualvalueoftheguaranteeprovidedbythelessee.Subsequently,theinterestexpenseoftheleaseliabilityforeachperiodoftheleasetermshallbecalculatedatafixedperiodicinterestrateandincludedinthecurrentprofitandloss.Variableleasepaymentsthatarenotincludedinthemeasurementofleaseliabilitiesarerecognizedinthegainsandprofitsofcurrentperiodwhentheyareactuallyincurred.ShorttermleasingShorttermleasereferstoaleasewithaleasetermnotexceeding12monthsfromthestartdateoftheleaseterm,excludingleaseswithpurchaseoptions.Thecompanywillrecognizetheleasepaymentsforshort-termleasesintherelevantassetcostsorcurrentprofitandlosswiththestraight-linemethodduringeachperiodoftheleaseterm.Forshort-termleasing,thecompanyadoptsthesimplifiedtreatmentmethodmentionedabovefortheitemsthatmeettheshort-termleasingconditionsinthefollowingassettypesaccordingtothecategoryofleasedassets.LowvalueassetleasingThelowvalueassetleasingreferstoleasingwithlowervaluewhenasingleleasedassetisabrandnewasset.Thecompanywillrecordtheleasepaymentsforlowvalueassetleasesintherelevantassetcostsorcurrentprofitandlosswiththestraight-linemethodduringeachperiodoftheleaseterm.Forlowvalueassetleasing,ourcompanychoosestoadoptthesimplifiedtreatmentmethodmentionedabovebasedonthespecificsituationofeachlease.Leasechange
Ifthereisachangeinleaseandthefollowingconditionsaremetsimultaneously,thecompanywilltreattheleasechangeasaseparateleaseforaccountingtreatment:
①Theleasechangeexpandstheleasescopebyaddingtherighttouseoneormoreleasedassets;②Theincreasedconsiderationisequivalenttotheindividualpricefortheexpansionoftheleasescope,adjustedaccordingtothesituationofthecontract.Iftheleasechangeisnotaccountedforasaseparatelease,ontheeffectivedateoftheleasechange,theCompanyshallreallocatetheconsiderationofthecontractafterthechange,redeterminetheleaseterm,andremeasuretheleaseliabilitybasedonthepresentvalueoftheleasepaymentamountafterthechangeandthereviseddiscountrate.Iftheleasechangeresultsinareductionintheleasescopeorleaseterm,thecompanyshalladjustthebookvalueoftheright-of-useassetsaccordingly,andrecordtherelevantgainsorlossesfrompartialorcompleteterminationoftheleaseinthegainsandprofitsofcurrentperiod.Ifotherleasechangesresultintheremeasurementofleaseliabilities,theCompanyshalladjustthebookvalueoftherightofuseassetsaccordingly.
(2)ThecompanyasalessorWhenthecompanyactsasthelessor,leasesthathavesubstantiallytransferredallrisksandrewardsrelatedtoassetownershiparerecognizedasfinancingleases,whileleasesotherthanfinancingleasesarerecognizedasoperatingleases.FinanceleaseInfinancialleasing,atthebeginningoftheleaseterm,thecompanyusesthenetleaseinvestmentasthebookvalueofthereceivablefinancingleasepayments.Thenetleaseinvestmentisthesumoftheunguaranteedresidualvalueandthepresentvalueoftheleasepaymentsthathavenotyetbeenreceivedonthestartdateoftheleasetermdiscountedattheimplicitinterestrateofthelease.Ourcompany,asthelessor,calculatesandrecognizesinterestincomeforeachperiodoftheleasetermatafixedperiodicinterestrate.Thevariableleasepaymentsobtainedbyourcompanyasthelessor,whicharenotincludedinthenetleaseinvestmentmeasurement,arerecognizedinthegainsandprofitsofcurrentperiodwhenactuallyincurred.ThederecognitionandimpairmentofreceivablefinancingleasepaymentsshallbeaccountedforinaccordancewiththeprovisionsofAccountingStandardsforEnterprisesNo.22-RecognitionandMeasurementofFinancialInstrumentsandAccountingStandardsforEnterprisesNo.23-TransferofFinancialAssets.OperatingleaseTherentofoperatingleasesisrecognizedinthegainsandprofitsofcurrentperiodusingthestraight-linemethodforeachperiodduringtheleaseterm.Theinitialdirectexpensesrelatedtooperatingleasesshallbecapitalized,amortizedovertheleasetermonthesamebasisasrentalincomerecognition,andrecognizedinthegainsandprofitsofcurrentperiodininstallments.Thevariableleasepaymentsrelatedtooperatingleasesthatarenotincludedintheleaseincomearerecognizedinthegainsandprofitsofcurrentperiodwhenactuallyincurred.LeasechangeIfthereisachangeintheoperatinglease,thecompanywilltreatitasanewleaseforaccountingtreatmentfromtheeffectivedateofthechange.Theprepaidorreceivableleasepaymentsrelatedtotheleasebeforethechangeareconsideredasthenewleasepayments.Ifthereisachangeinfinancingleaseandthefollowingconditionsaremetsimultaneously,thecompanywilltreatthechangeasaseparateleaseforaccountingtreatment:
①Thechangeexpandstheleasescopebyaddingtherighttouseoneormoreleasedassets;
②Theincreasedconsiderationisequivalenttotheindividualpricefortheexpansionoftheleasescope,adjustedaccordingtothesituationofthecontract.Ifthereisachangeinfinancingleasethathasnotbeenaccountedforasaseparatelease,theCompanywilltreatthechangedleaseasfollows:①Ifthechangetakeseffectontheleasecommencementdate,theleasewillbeclassifiedasanoperatinglease.TheCompanywilltreatitasanewleasefromtheeffectivedateoftheleasechangeandusethenetleaseinvestmentbeforetheeffectivedateoftheleasechangeasthebookvalueoftheleasedasset;②Ifthechangetakeseffectonthecommencementdateofthelease,theleasewillbeclassifiedasafinancinglease,andthecompanywillconductaccountingtreatmentinaccordancewiththeprovisionsoftheAccountingStandardsforEnterprisesNo.22-RecognitionandMeasurementofFinancialInstrumentsregardingthemodificationorrenegotiationofcontracts.
42.Otherimportantaccountingpolicyandestimation
43.Changesofimportantaccountingpolicyandestimation
(1)Changesofimportantaccountingpolicies?Applicable□Notapplicable
InRMB
| Contentsandreasonsofaccountingpolicy | Nameofitemsoffinancialstatementssubjecttomajorimpact | Impactamount |
TheMinistryofFinanceissuedInterpretationNo.16oftheAccountingStandardsforEnterprises(CK[2022]No.31)inNovember2022(hereinafterreferredtoas“InterpretationNo.16”).InterpretationNo.16stipulatesthat,forasingletransactionthatisnotabusinessmerger,doesnotaffectaccountingprofitsortaxableincome(ordeductiblelosses)atthetimeoftransaction,andresultsinequaltaxabletemporarydifferencesanddeductibletemporarydifferencesduetotheinitialrecognitionofassetsandliabilities,thecorrespondingdeferredincometaxliabilitiesanddeferredincometaxassetsshallberecognizedseparatelyatthetimeoftransactioninaccordancewithrelevantprovisionssuchasEnterpriseAccountingStandardNo.18-IncomeTax.Fortheabove-mentionedtransactionsthatoccurredbetweenthebeginningoftheearliestperiodforthefirstimplementationoftheaboveregulationsinfinancialstatementpresentationandthedateofimplementationofthisinterpretation,theenterpriseshalladjustthecumulativeimpacttothebeginningretainedearningsandotherrelatedfinancialstatementitemsintheearliestperiodforfinancialstatementpresentationinaccordancewiththeaboveregulations.TheaboveaccountingtreatmentregulationswillbeimplementedfromJanuary1,2023.
(2)Changesofimportantaccountingestimation
□Applicable?Notapplicable
(3)Implementationofnewaccountingstandardsadjustmentforthefirsttimestartingfrom2023,andimplementationofrelevantfinancialstatementitemsatthebeginningoftheyearforthefirsttime?Applicable□NotapplicableExplanationonadjustmentStartingfromJanuary1,2023,thecompanyimplementedtheAccountingStandardsforEnterprisesInterpretationNo.16issuedbytheMinistryofFinance,whichstipulatesthatdeferredincometaxrelatedtoassetsandliabilitiesarisingfromindividualtransactionsshallnotbesubjecttoinitialrecognitionexemptionaccountingtreatment.Forindividualtransactionsthatoccurbetweenthe
beginningoftheearliestperiodinwhichtheprovisionisfirstimplementedandthefirstimplementationdateinfinancialstatements,adjustmentsshallbemadeaccordingtothisprovision.Forleaseliabilitiesandright-of-useassetsrecognizedatthebeginningoftheearliestperiodinwhichtheprovisionisfirstimplemented,aswellasestimatedliabilitiesandcorrespondingassetsrelatedtoabandonmentobligationsrecognized,resultingintaxabletemporarydifferencesanddeductibletemporarydifferences,thecumulativeimpactamountshallbeadjustedtotheinitialretainedearningsandotherrelatedfinancialstatementitemsoftheearliestperiodinaccordancewiththisprovisionandtheprovisionsofEnterpriseAccountingStandardNo.18-IncomeTax.Thespecificadjustmentsareasfollows:
TheimpactofimplementingtheaboveaccountingpoliciesontheconsolidatedbalancesheetasofDecember31,2022andtheconsolidatedincomestatementfortheyear2022isasfollows:
| Itemsofconsolidatedbalancesheet(Dec.31,2022) | Beforeadjustment | Adjustmentamount | Afteradjustment |
| Deferredtaxassets | 40,240,466.35 | 154,697.65 | 40,395,164.00 |
| Deferredtaxliabilities | 13,381,949.47 | 6,100.06 | 13,388,049.53 |
| Undistributedprofit | 1,910,954,084.79 | 148,597.59 | 1,911,102,682.38 |
Con’：
| Itemsofconsolidatedprofitstatement(2022) | Beforeadjustment | Adjustmentamount | Afteradjustment |
| Incometaxexpense | 52,611,993.87 | -169,799.76 | 52,442,194.11 |
| Netprofit | 418,298,868.22 | 169,799.76 | 418,468,667.98 |
44.Others
VI.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%,taxexemptionforsome |
| ShenliangQualityInspectionCo.,Ltd.(hereinafterreferredtoas“ShenliangQualityInspection”) | 20.00% |
| HainanShenliangOil&FoodCo.,Ltd.(hereinafterreferredtoas“HainanOil&Food”) | 20.00% |
| ShenzhenShenliangDoximiBusinessCo.,Ltd.(hereinafterreferredtoas“Doximi”) | 25.00% |
| ZhenpinMarketOperationTechnologyCo.,Ltd.(hereinafterreferredto“ZhenpinMarket”) | 25.00% |
| ShenzhenShenliangBigKitchenFoodSupplyChainCo.,Ltd(hereinafterreferredtoas“BigKitchen”) | 25.00% |
| ShenzhenShenliangStorage(Yingkou)Co.,Ltd(hereinafterreferredtoas“YingkouStorage”) | 25.00% |
| ShenzhenShenliangColdChainLogisticsCo.,Ltd.(hereinafterreferredtoas“ColdChainLogistics”) | 15.00% |
| ShenzhenShenliangPropertyDevelopmentCo.,Ltd.(hereinafterreferredtoas“ShenliangPropertyDevelopment”) | 25.00% |
| ShenzhenShenliangPropertyManagementCo.,Ltd.(hereinafterreferredtoas“ShenliangPropertyManagement”) | 20.00% |
| DongguanShenliangLogisticsCo.,Ltd.(hereinafterreferredtoas“DongguanLogistics”) | 25.00% |
| DongguanInternationalFoodIndustrialParkDevelopmentCo.,Ltd.(hereinafterreferredtoas“InternationalFood”) | 25.00% |
| DongguanShenliangOil&FoodTradeCo.,Ltd.(hereinafterreferredtoas“DongguanOil&Food”) | 25.00% |
| ShuangyashanShenliangCerealsBaseCo.,Ltd.(hereinafterreferredtoas“Shuangyashan”) | 25.00% |
| ShenzhenShenbaoHuachengTechnologyCo.,Ltd.(hereinafterreferredtoas“ShenbaoHuacheng”) | 15.00% |
| WuyuanJuFangYongTeaIndustryCo.,Ltd(hereinafterreferredtoas“WuyuanJuFangYong”) | 15.00% |
| ShenzhenShenshenbaoInvestmentCo.,Ltd(hereinafterreferredtoas“ShenshenbaoInvestment”) | 25.00% |
| ShenzhenShenshenbaoTeaCultureCommercialManagementCo.,Ltd.(hereinafterreferredtoas“ShenbaoTeaCulture”) | 25.00% |
| HangzhouJuFangYongHoldingCo.,Ltd(hereinafterreferredtoas“JuFangYongHolding”) | 25.00% |
| HangzhouFuhaitangCateringManagementChainCo.,Ltd.(hereinafterreferredtoas“FuhaitangCatering”) | 25.00% |
| HangzhouFuhaitangTeaEcologyTechnologyCo.,Ltd(hereinafterreferredtoas“FuhaitangTeaEcology”) | 25.00% |
| MountWuyiShenbaoRockTeaCo.,Ltd.(hereinafterreferredtoas“ShenbaoRockTea”) | 25.00% |
| YunnanShenbaoPu’erTeaSupplyChainManagementCo.,Ltd.(hereinafterreferredtoas“Pu’erTeaSupplyChain”) | 25.00% |
| ShenzhenShenliangFoodCo.,Ltd.(hereinafterreferredtoas“ShenzhenShenliangFood”) | 25.00% |
| YunnanPu’erTeaTradingCenterCo.,Ltd.(hereinafterreferredtoas“Pu’erTeaTradingCenter”) | 25.00% |
| HuizhouShenliangFoodCo.,Ltd.(hereinafterreferredtoas“HuizhouShenliangFood”) | 25.00% |
| HuizhouShenbaoTechnologyCo.,Ltd.(hereinafterreferredtoas“HuizhouShenbao”) | 25.00% |
| ShenliangHongliGrainandOil(Shenzhen)Co.,Ltd(hereinafterreferredtoas“ShenliangHongli”) | 25.00% |
| ShenzhenShenbaoIndustrial&TradingCo.,Ltd(hereinafterreferredtoas“ShenbaoIndustrial&Trading”) | 25.00% |
| WuhanJiachengBiotechnologyCo.,Ltd(hereinafterreferredtoas“WuhanJiacheng”) | 15.00% |
| HubeiJiachengBiotechnologyCo.,Ltd(hereinafterreferredtoas“HubeiJiacheng”) | 25.00% |
| WuhanHongquHealthBiologyCo.,Ltd(hereinafterreferredtoas“WuhanHongqu”) | 25.00% |
| MachengJintianCamelliaOilCo.,Ltd.(hereinafterreferredtoas“MachengJintian”) | 25.00% |
2.Preferentialtaxation
1.VATdiscountsandapprovalAccordingtothe“NoticeoftheMinistryofFinanceandtheStateAdministrationofTaxationontheIssuesConcerningtheVATCollectionandExemptionofGrainEnterprises(CSZ[1999]No.198)”and“ShenzhenTaxService,StateTaxationAdministrationandShenzhenFinanceBureauSGSF(SCF[1999]No.428)”,confirmingthatSZCG,theCompany’ssubsidiary,anditssubsidiaries,arestate-ownedgrainpurchaseandsaleenterprisesthatundertakegraincollectionandstoragetasksforShenzhen,thegrainsoldissubjecttotax-freedeclarationbyruleandenjoystheexemptionfromVAT.Inaddition,accordingtothestipulationofthe“AnnouncementofStateAdministrationofTaxationonRelevantManagementMattersAfterClarifyingtheCancellationoftheApprovalofSomeVATPreferentialPolicies”(SATAnnouncement2015No.38),theapprovalforexemptionfromVATandtheinvolvedtaxreviewandapprovalproceduresforthestate-ownedgrainenterprisesthatundertakegraincollectionandstoragetasks,othergrainenterprisesthatoperatetax-freeprojectsandenterprisesthathaveediblevegetableoilsalesbusinessforgovernmentreservesarecanceledandchangedtorecordmanagement.Thetaxpayerdoesnotchangethecontentoftherecordmaterialsduringtheperiodoftaxexemptioncanbeputonaone-timerecord.InDecember2013,SZCGobtainedthenoticeoftheVATpreferentialrecord(SGSFJBM[2013]No.2956)fromShenzhenFutianStateAdministrationofTaxation.Inthecaseofnochangeinpolicy,thislimitedfilingperiodstartedonJanuary1
st
,2014.TheVATinputtaxamountofthepreferentialitemwasseparatelyaccountedfor,andtheinputVATcalculationmethodcannotbechangedwithin36monthsaftertheselection.AsofDecember31,2023,thetaxexemptionpolicyhasbeenineffectsinceitsfilingin2014,andthecompany’sVATinputtaxhasnotchangedsinceitwasaccountedforseparatelyin2014,sothecompanycontinuestoenjoythetaxpreference.
2.Stampduty,housepropertytax,andurbanlandusetaxpreferencesAccordingtothestipulationsoftheAnnouncementoftheMinistryofFinanceandtheStateAdministrationofTaxationonContinuingtheImplementationofTaxPreferentialPoliciesforSomeNationalReserveCommodityReserves([2022]No.8)”,anddocumentsofGuangdongProvinceDepartmentofFinance,GuangdongProvincialTaxationBureauoftheStateAdministrationofTaxationandGuangdongProvincialFoodandMaterialReserveBureau(YCSH[2020]No.2,confirmingthatthefundaccountbookofSZCG,theCompany’ssubsidiary,anditsdirectdepotsisexemptfromstampduty,confirmingthatthewrittenpurchaseandsalecontractsofSZCGintheprocessofundertakingthecommodityreservebusinessareexemptfromstampduty,andconfirmingthatSZCG’shousepropertyandlandusedforthecommodityreservebusinessareexemptfromhousepropertytaxandurbanlandusetax.TheexecutiontimelimitforthistaxpreferencepolicyisfromJanuary1,2022toDecember31,2023.
3.Enterpriseincometax
(1)OnMay27,2021,theGeneralAdministrationofTaxation,MinistryofFinanceissuedtheNoticeontheExtensionofPreferentialPoliciesofEnterpriseIncomeTaxofQianhaiShenzhen-HongKongModernServiceIndustryCooperationZoneinShenzhen,theenterpriseincometaxofqualifiedenterpriseslocatedinQianhaiShenzhen-HongKongModernServiceIndustryCooperationZoneisleviedattherateof15.00%,andtheNoticetobeimplementedfromJanuary1,2021toDecember31,2025.TheCompany'ssubsidiarycoldchainlogisticsisregisteredinShenzhenQianhaiCooperationZone,whichiseligibleforpreferentialtaxconditions.Accordingtorelevantpoliciesofthecooperationzone,itsincometaxwillenjoyapreferentialtaxof15.00%
(2)OnDecember23,2021,ShenbaoHuacheng,asubsidiaryoftheCompany,obtainedtheHigh-techEnterpriseCertificate(CertificateNo.:GR202144205394)jointlyissuedbytheShenzhenScienceandTechnologyBureau,theShenzhenFinanceBureau,andtheShenzhenTaxService,StateTaxationAdministration,whichisvalidforthreeyears.Accordingtotherelevantpreferentialpoliciesofthestateforhigh-techenterprises,thequalifiedhigh-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)OnOct.12,2022,WuhanJiacheng,asubsidiaryoftheCompany,obtainedtheHigh-techEnterpriseCertificate(CertificateNo.:GR202242000734)jointlyissuedbytheDepartmentofScienceandTechnologyofHubeiProvince,theHubeiProvincialDepartmentofFinanceofHubeiProvince,andtheHubeiProvincialTaxService,StateTaxationAdministration,whichisvalidforthreeyears.Accordingtotherelevantpreferentialpoliciesofthestateforhigh-techenterprises,qualifiedhigh-techenterpriseswillpaycorporateincometaxatareducedincometaxrateof15.00%withinthreeyearsfromtheyearofidentification.WuhanJiachengenjoysthepreferentialtaxpolicyfrom2022to2025.
(5)AccordingtotheNoticeoftheMinistryofFinanceandtheStateTaxationAdministrationontheTreatmentofCorporateIncomeTaxTreatmentofFiscalFundsforSpecialPurposes(CS[2009]No.87),thegovernmentalserviceincomesobtainedbySZCG,theCompany’ssubsidiary,anditssubordinatecompaniesbycarryingoutgovernmentgrainreservesbusinessarefiscalfundsforspecialpurposes,thosethatmeettherequirementscanberegardedasnon-taxableincomesanddeductedfromthetotalincomewhencalculatingthetaxableincome.Expensesarisingfromtheuseoftheabovenon-taxableincomeforexpenditureshallnotbedeductedfromthecalculationoftaxableincome;forassetsformedfromexpenditure,thecalculateddepreciationandamortizationshallnotbedeductedfromthecalculationoftaxableincome.
(6)ShenzhenFlour,asubsidiaryoftheCompany,isaflourprimaryprocessingenterprise,accordingtothestipulationsofthe“NoticeonIssuingtheScope(Trial)ofPrimaryProcessingofAgriculturalProductsApplicabletotheCorporateIncomeTaxPreferentialPolicy(CS[2008]No.149)”andthe“SupplementaryNoticeontheScopeofPrimaryProcessingofAgriculturalProductsApplicabletotheCorporateIncomeTaxPreferentialPolicyoftheMinistryofFinanceandtheStateAdministrationofTaxation”(CS[2011]No.26),thewheatprimaryprocessingisexemptfromincometax.
(7)AccordingtotheAnnouncementoftheMinistryofFinanceandtheStateTaxationAdministrationontheImplementationofPreferentialIncomeTaxPoliciesforSmallandMicroEnterprises([2022]No.13),fromJanuary1,2022toDecember31,2024,thepartoftheannualtaxableincomeofsmallandlow-profitenterprisesnotexceeding1.00millionyuanshallbeincludedinthetaxableincomeatareducedrateof25.00%,andtheenterpriseincometaxshallbepaidatataxrateof20.00%.Thecompany’ssubsidiaryHainanGrainandOil,ShenliangPropertyandShenliangQualityInspectionaresmallprofitenterprisesandinlinewiththepreferentialtaxconditions.
3.Other
VII.Notestomainitemsofconsolidatedfinancialstatements
1.Monetaryfunds
InRMB
| Item | Endingbalance | Openingbalance |
| Cashonhand | 10,106.10 | 69,686.00 |
| Cashinbank | 233,808,796.22 | 52,837,770.89 |
| Othermonetaryfund | 2,565,704.28 | 1,196,314.11 |
| Total | 236,384,606.60 | 54,103,771.00 |
Otherexplanation:
Thedetailsofmonetaryfundsthatarerestrictedinuseduetomortgage,pledge,orfreezing,restrictedincentralizedmanagementandwithdrawaloffunds,andrestrictedinrepatriationduetobeingplacedoverseasareasfollows:
| Item | Endingbalance | Endingbalanceoflastperiod |
| Guaranteedeposit | 1,800,000.00 | 1,000,000.00 |
| Letterofcreditdeposit | 691,708.31 | |
| Litigationrelatedfreezing | 2,973,129.00 | |
| Other | 8,301.74 | |
| Total | 5,464,837.31 | 1,008,301.74 |
2.Tradablefinancialassets
InRMB
| Item | Endingbalance | Openingbalance |
| Financialassetsmeasuredbyfairvalueandwithvariationreckonedintocurrentgains/losses | 1,122,347.85 | 46,676,652.91 |
| Including: | ||
| Equityinvestmentinstrument | 1,122,347.85 | 1,228,132.36 |
| Structuredfinancialproducts | 45,448,520.55 | |
| Including: | ||
| Total | 1,122,347.85 | 46,676,652.91 |
Otherexplanation:
3.Derivativefinancialassets
InRMB
| Item | Endingbalance | Openingbalance |
Otherexplanation:
4.Notereceivable
(1)Bycategory
InRMB
| Item | Endingbalance | Openingbalance |
| Bankacceptancebill | 113,932.00 | 270,109.00 |
| Total | 113,932.00 | 270,109.00 |
(2)Accruedbaddebtprovision
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookvalue | Baddebtsreserve | Bookvalue | Bookvalue | Baddebtsreserve | Bookvalue | |||||
| Amount | Ratio | Amount | Accrued | Amount | Ratio | Amount | Accrued | |||
| ratio | ratio | |||
| Including: | ||||
| Including: | ||||
| Portfolioofsalesreceivable | ||||
| Object-specificportfolio |
Iftheprovisionforbaddebtsofaccountsreceivableismadebasedonthegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
(3)Baddebtprovisionaccrual,collectedorreversalintheperiod
Baddebtprovisionaccrualintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrual | Collectedorreversal | Written-off | Other | |||
Includingmajoramountbaddebtprovisionthatcollectedorreversalintheperiod:
□Applicable?Notapplicable
(4)NotesreceivablealreadypledgedbytheCompanyattheendoftheperiod
InRMB
| Item | Amountpledgeatperiod-end |
(5)Notesendorsementordiscountandundueonbalancesheetdate
| Item | Endingderecognizedamount | Endingnotderecognizedamount |
(6)Notereceivableactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajornotereceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationonnotereceivablechargedoff:
5.Accountreceivable
(1)Byaging
InRMB
| Aging | Endingbookbalance | Beginningbookbalance |
| Within1year(inclusive) | 185,011,814.38 | 238,932,228.39 |
| 1-2years | 1,411,768.67 | 1,392,647.25 |
| 2-3years | 732,353.29 | 2,237,506.92 |
| Over3years | 95,284,580.37 | 93,508,707.26 |
| 3-4years | 2,124,859.32 | 405,778.29 |
| 4-5years | 80,685.16 | 720,664.43 |
| Over5years | 93,079,035.89 | 92,382,264.54 |
| Total | 282,440,516.71 | 336,071,089.82 |
(2)Accruedbaddebtprovision
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
| Amount | Ratio | Amount | Accrualratio | Amount | Ratio | Amount | Accrualratio | |||
| Accountreceivablewithbaddebtprovisionaccrualonasinglebasis | 99,603,414.71 | 35.27% | 99,513,955.78 | 99.91% | 89,458.93 | 96,298,242.86 | 28.65% | 95,725,038.89 | 99.40% | 573,203.97 |
| Including: | ||||||||||
| Accountreceivablewithbaddebtprovisionaccrualonportfolio | 182,837,102.00 | 64.73% | 3,098,066.95 | 1.69% | 179,739,035.05 | 239,772,846.96 | 71.35% | 3,516,949.98 | 1.47% | 236,255,896.98 |
| Including | ||||||||||
| Portfolioofsalesreceivable | 116,066,604.29 | 41.09% | 3,098,066.95 | 2.67% | 112,968,537.34 | 142,291,769.29 | 42.34% | 3,516,949.98 | 2.47% | 138,774,819.31 |
| Object-specificportfolio | 66,770,497.71 | 23.64% | 0.00 | 66,770,497.71 | 97,481,077.67 | 29.01% | 97,481,077.67 | |||
| Total | 282,440,516.71 | 100.00% | 102,612,022.73 | 36.33% | 179,828,493.98 | 336,071,089.82 | 100.00% | 99,241,988.87 | 29.53% | 236,829,100.95 |
Baddebtprovisionaccrualonsinglebasis:99,513,955.78yuan
InRMB
| Name | Openingbalance | Endingbalance | ||||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | Accrualratio | Accrualcauses | |
| Baddebtprovisionaccrualonsinglebasis | 96,298,242.86 | 95,725,038.89 | 99,603,414.71 | 99,513,955.78 | 99.91% | Lowpossibilityofrecovery |
| Total | 96,298,242.86 | 95,725,038.89 | 99,603,414.71 | 99,513,955.78 |
Baddebtprovisionaccrualonportfolio:Portfolioofsalesreceivable
InRMB
| Name | Endingbalance | ||
| Bookbalance | Baddebtprovision | Accrualratio | |
| Portfolioofsalesreceivable | 116,066,604.29 | 3,098,066.95 | 2.67% |
| Total | 116,066,604.29 | 3,098,066.95 | |
Explanationonthebasisfordeterminingportfolio:
Baddebtprovisionaccrualonportfolio:object-specificportfolio
InRMB
| Name | Endingbalance | ||
| Bookbalance | Baddebtprovision | Accrualratio | |
| Object-specificportfolio | 66,770,497.71 | ||
| Total | 66,770,497.71 | ||
Explanationonthebasisfordeterminingportfolio:
Iftheprovisionforbaddebtsofaccountreceivableismadeinaccordancewiththegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
(3)Baddebtprovisionaccruedcollectedorreversal
Baddebtprovisionaccruedintheperiod:
InRMB
| Category | Openingbalance | Changeincurrentperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Chargedoff | Other | |||
| Baddebtprovisionforaccountsreceivable | 99,241,988.87 | 4,462,277.15 | 866,026.81 | -226,216.48 | 102,612,022.73 | |
| Total | 99,241,988.87 | 4,462,277.15 | 866,026.81 | -226,216.48 | 102,612,022.73 | |
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Name | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
Otherexplanation:
(4)Accountreceivableactuallychargedoffintheperiod
InRMB
| Item | Amountchargedoff |
Includingmajoraccountreceivablechargedoff:
InRMB
| Enterprise | Nature | Amountchargedoff | Written-offcauses | Procedureofwritten-off | Resultedbyrelatedtransaction(Y/N) |
Explanationonaccountreceivablechargedoff:
(5)Top5receivablesandcontractassetsatendingbalancebyarrearsparty
InRMB
| Name | Endingbalanceofaccountreceivable | Endingbalanceofcontractassets | Endingbalanceofaccountreceivableandcontractassets | Ratiointotalendingbalanceofaccountreceivableandcontractassets | Endingbalanceofbaddebtreserveandimpairmentreserveofcontractassets |
| First | 65,578,088.99 | 65,578,088.99 | 23.22% | ||
| Second | 15,732,842.83 | 15,732,842.83 | 5.57% | 157,328.43 | |
| Third | 10,455,627.54 | 10,455,627.54 | 3.70% | 10,455,627.54 | |
| Fourth | 9,136,940.00 | 9,136,940.00 | 3.23% | 91,369.40 | |
| Fifth | 4,582,156.00 | 4,582,156.00 | 1.62% | 4,582,156.00 | |
| Total | 105,485,655.36 | 105,485,655.36 | 37.34% | 15,286,481.37 |
6.Contractasset
(1)Contractasset
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Baddebtreserve | Bookvalue | Bookbalance | Baddebtreserve | Bookvalue | |
(2)Theamountandreasonsforsignificantchangesinbookvalueduringthereportingperiod
InRMB
| Item | Amountofchange | Reasonforchange |
(3)Accruedbaddebtprovision
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookvalue | Baddebtsreserve | Bookvalue | Bookvalue | Baddebtsreserve | Bookvalue | |||||
| Amount | Ratio | Amount | Accruedratio | Amount | Ratio | Amount | Accruedratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
Iftheprovisionforbaddebtsofaccountsreceivableismadebasedonthegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
(4)Baddebtprovisionaccrued,collectedorreversal
Baddebtprovisionaccruedintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Chargedoff | Other | |||
| Baddebtprovision | ||||||
| Total | ||||||
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
Otherexplanation:
(5)Contractassetsactuallychargedoffduringthereportingperiod
InRMB
| Item | Amountchargedoff |
Includingmajorcontractassetschargedoff:
InRMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationoncontractassetschargedoff:
Otherexplanation:
7.Accountreceivablefinancing
(1)Categoryofaccountreceivablefinancing
InRMB
| Item | Endingbalance | Openingbalance |
(2)Accruedbaddebtprovision
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookvalue | Baddebtsreserve | Bookvalue | Bookvalue | Baddebtsreserve | Bookvalue | |||||
| Amount | Ratio | Amount | Accruedratio | Amount | Ratio | Amount | Accruedratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
Theprovisionforbaddebtsofaccountsreceivableismadebasedonthegeneralmodelofexpectedcreditlosses:
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) |
ClassificationbasisandaccruedratioofbaddebtprovisionforeachstageExplanationonsignificantchangesinthefinancingbookbalanceofaccountsreceivablewithchangesinimpairmentprovisioninthecurrentperiod:
(3)Baddebtprovisionaccrued,collectedorreversal
Baddebtprovisionaccruedintheperiod:
InRMB
BalanceonJan.1,2023intheperiod
Category
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Written-off | Other | |||
| Baddebtprovision | ||||||
| Total | ||||||
Importantbaddebtprovisioncollectedorreversal
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
Otherexplanation:
(4)AccountreceivablefinancingalreadypledgedbytheCompanyatperiod-end
InRMB
| Item | Amountpledgeatperiod-end |
(5)Accountreceivablefinancingendorsementordiscountandundueonbalancesheetdate
InRMB
| Item | Amountderecognizedatperiod-end | Amountnotderecognizedatperiod-end |
(6)Accountreceivablefinancingactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajoraccountreceivablefinancingchargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationonaccountreceivablefinancingchargedoff:
(7)Changesofaccountreceivablefinancingandchangeoffairvalueintheperiod
(8)Otherexplanation
8.Otheraccountsreceivable
InRMB
| Item | Endingbalance | Openingbalance |
| Otheraccountsreceivable | 29,127,689.89 | 32,910,189.14 |
| Total | 29,127,689.89 | 32,910,189.14 |
(1)Interestreceivable
1)Categoryofinterestreceivable
InRMB
| Item | Endingbalance | Openingbalance |
2)Significantoverdueinterest
InRMB
| Borrower | Endingbalance | Overdueperiod | Overduereason | Whetherimpairmenthasoccurredanditsjudgmentbasis |
Otherexplanation:
3)Accruedbaddebtprovision
□Applicable?Notapplicable
4)Baddebtprovisionaccrued,collectedorreversal
Baddebtprovisionaccruedintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Written-off | Other | |||
| Baddebtprovision | ||||||
| Total | ||||||
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
Otherexplanation:
5)Interestreceivableactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajorinterestreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationoninterestreceivablechargedoff:
Otherexplanations:
(2)Dividendreceivable
1)Categoryofdividendreceivable
InRMB
| Item(orinvestee) | Endingbalance | Openingbalance |
2)Significantdividendreceivablewithagingoveroneyear
InRMB
| Item(orinvestee) | Endingbalance | Aging | Reasonfornotreceived | Whetherimpairmenthasoccurredanditsjudgmentbasis |
3)Accruedbaddebtprovision
□Applicable?Notapplicable
4)Baddebtprovisionaccrued,collectedorreversalBaddebtprovisionaccruedintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Written-off | Other | |||
| Baddebtprovision | ||||||
| Total | ||||||
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
Otherexplanation:
5)Dividendreceivableactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajordividendreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationondividendreceivablechargedoff:
Otherexplanation:
(3)Otheraccountreceivable
1)Bynature
InRMB
| Nature | Endingbookbalance | Beginningbookbalance |
| Depositandmargin | 10,671,175.15 | 14,170,451.49 |
| Otherintercoursefunds | 121,009,368.29 | 122,723,170.61 |
| Total | 131,680,543.44 | 136,893,622.10 |
2)Byaging
InRMB
| Aging | Endingbookbalance | Beginningbookbalance |
| Within1year(inclusive) | 18,288,294.29 | 13,369,415.17 |
| 1-2years | 9,503,326.35 | 15,602,452.42 |
| 2-3years | 2,536,281.98 | 4,109,695.16 |
| Over3years | 101,352,640.82 | 103,812,059.35 |
| 3-4years | 3,501,011.75 | 1,819,777.03 |
| 4-5years | 1,478,563.36 | 1,778,322.12 |
| Overfiveyears | 96,373,065.71 | 100,213,960.20 |
| Total | 131,680,543.44 | 136,893,622.10 |
3)Accruedbaddebtprovision
?Applicable□Notapplicable
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookvalue | Baddebtsreserve | Bookvalue | Bookvalue | Baddebtsreserve | Bookvalue | |||||
| Amount | Ratio | Amount | Accruedratio | Amount | Ratio | Amount | Accruedratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
| Portfolioofexpected | ||||||||||
| creditriskfeature |
| Object-specificportfolio |
Iftheprovisionforbaddebtsofaccountsreceivableismadebasedonthegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceofJan.1,2023 | 2,845,796.16 | 101,137,636.80 | 103,983,432.96 | |
| BalanceofJan.1,2023intheperiod | ||||
| Currentaccrual | 35,458.20 | 429,022.36 | 464,480.56 | |
| Currentreversal | 227,688.53 | 661,005.22 | 888,693.75 | |
| Otherchanges | -6,366.22 | -1,000,000.00 | -1,006,366.22 | |
| BalanceonDec.31,2023 | 2,647,199.61 | 99,905,653.94 | 102,552,853.55 |
ClassificationbasisandbaddebtprovisionratioforeachstageChangesinbookbalancewithsignificantchangesinimpairmentprovisioninthecurrentperiod
□Applicable?Notapplicable
4)Baddebtprovisionaccrued,collectedorreversal
Baddebtprovisionaccruedintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Written-off | Other | |||
| Baddebtprovisionofotheraccountsreceivable | 103,983,432.96 | 464,480.56 | 888,693.75 | -1,006,366.22 | 102,552,853.55 | |
| Total | 103,983,432.96 | 464,480.56 | 888,693.75 | -1,006,366.22 | 102,552,853.55 | |
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Name | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
5)Otheraccountreceivableactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajorotheraccountreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationonotheraccountreceivablechargedoff:
6)Top5otheraccountsreceivableatendingbalancebyarrearsparty
InRMB
| Enterprise | Nature | Endingbalance | Aging | Proportionintotalotherreceivablesatendingbalance(%) | Endingbalanceofbaddebtreserve |
| First | Intercoursefunds | 24,035,157.99 | Overfiveyears | 18.25% | 22,187,644.18 |
| Second | Intercoursefunds | 8,326,202.63 | Overfiveyears | 6.32% | 8,326,202.63 |
| Third | Intercoursefunds | 8,285,803.57 | Overfiveyears | 6.29% | 8,285,803.57 |
| Fourth | Intercoursefunds | 8,257,311.80 | Overfiveyears | 6.27% | 8,257,311.80 |
| Fifth | Intercoursefunds | 5,677,473.59 | Overfiveyears | 4.31% | 5,677,473.59 |
| Total | 54,581,949.58 | 41.44% | 52,734,435.77 |
7)Thosebookedintootheraccountreceivablesduetocentralizedfundmanagement
InRMBOtherexplanation:
9.Accountpaidinadvance
(1)Byaging
InRMB
| Aging | Endingbalance | Openingbalance | ||
| Amount | Ratio | Amount | Ratio | |
| Within1year | 16,244,819.71 | 94.26% | 64,831,898.58 | 99.00% |
| 1-2year | 676,069.63 | 3.92% | 361,081.54 | 0.55% |
| 2-3years | 95,050.89 | 0.55% | 175,520.68 | 0.27% |
| Over3years | 218,761.69 | 1.27% | 118,890.08 | 0.18% |
| Total | 17,234,701.92 | 65,487,390.88 | ||
Explanationonreasonsfornottimelysettlingimportantaccountpaidinadvancewithageoveroneyear:
(2)Top5accountspaidinadvanceatendingbalancebyprepaymentobject
| Prepaidobjects | Endingbalance | Proportionintotalprepaymentbalanceattheendofperiod(%) |
| First | 6,120,096.80 | 35.51 |
| Second | 5,027,279.80 | 29.17 |
| Third | 875,762.79 | 5.08 |
| Fourth | 591,197.44 | 3.43 |
| Fifth | 437,100.00 | 2.54 |
| Total | 13,051,436.83 | 75.73 |
Otherexplanation:
10.Inventory
DoestheCompanyneedtocomplywiththedisclosurerequirementsoftherealestateindustry?No
(1)Bycategory
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Inventoriesfallprovisionorcontractperformancecostsimpairmentprovision | Bookvalue | Bookbalance | Inventoriesfallprovisionorcontractperformancecostsimpairmentprovision | Bookvalue | |
| Rawmaterials | 63,123,938.67 | 15,039,481.32 | 48,084,457.35 | 70,633,688.83 | 13,324,174.78 | 57,309,514.05 |
| Goodsinprocess | 27,382,027.01 | 0.00 | 27,382,027.01 | 25,496,450.76 | 25,496,450.76 | |
| Finishedgoods | 3,449,447,657.13 | 87,071,319.87 | 3,362,376,337.26 | 3,574,759,554.65 | 80,193,872.72 | 3,494,565,681.93 |
| Revolvingmaterial | 2,935,812.93 | 1,685,748.86 | 1,250,064.07 | 5,171,075.84 | 998,163.23 | 4,172,912.61 |
| Goodsintransit | 12,559,426.44 | 12,559,426.44 | 11,981,893.90 | 11,981,893.90 | ||
| Lowvalueconsumables-packagingmaterials | 6,824,189.94 | 32,513.03 | 6,791,676.91 | 4,806,860.40 | 4,806,860.40 | |
| Workinprocess-outsourced | 5,438,363.67 | 5,438,363.67 | 0.00 | 5,999,159.19 | 5,290,502.32 | 708,656.87 |
| Total | 3,567,711,415.79 | 109,267,426.75 | 3,458,443,989.04 | 3,698,848,683.57 | 99,806,713.05 | 3,599,041,970.52 |
(2)Inventoriesfallprovisionorprovisionforimpairmentofcontractperformancecosts
InRMB
| Item | Openingbalance | Currentamountincreased | Currentamountdecreased | Endingbalance | ||
| Accrual | Other | Reversalorwrite-off | Other | |||
| Rawmaterials | 13,324,174.78 | 2,630,983.00 | 915,676.46 | 15,039,481.32 | ||
| Goodsinprocess | 0.00 | |||||
| Finishedgoods | 80,193,872.72 | 102,279,510.56 | 95,269,436.02 | 132,627.39 | 87,071,319.87 | |
| Revolvingmaterial | 998,163.23 | 775,274.19 | 87,688.56 | 1,685,748.86 | ||
| Lowvalueconsumables-packagingmaterials | 200,280.13 | 166,861.92 | 905.18 | 32,513.03 | ||
| Workinprocess-outsourced | 5,290,502.32 | 147,861.35 | 5,438,363.67 | |||
| Total | 99,806,713.05 | 106,033,909.23 | 96,439,662.96 | 133,532.57 | 109,267,426.75 | |
Inventoriesfallprovisionaccruedintermsofportfolio
InRMB
| Portfolioname | Ending | Opening |
| Endingbalance | Inventoriesfallprovision | Accruedratioofinventoriesfallprovision | Openingbalance | Inventoriesfallprovision | Accruedratioofinventoriesfallprovision |
Standardforinventoriesfallprovisionaccruedintermsofportfolio
(3)Explanationofthecapitalizedamountofborrowingcostsincludedintheendingbalanceofinventory
(4)Explanationonthecurrentamortizationamountofcontractperformancecosts
11.Assetsheldforsale
InRMB
| Item | Endingbookbalance | Impairmentprovision | Endingbookvalue | Fairvalue | Estimateddisposalcost | Estimateddisposaltime |
| Intangibleasset | 12,853,604.67 | 12,853,604.67 | 12,853,604.67 | 0.00 | Jan.31,2023 | |
| SubsidiaryWuhanJiacheng | 108,272,532.95 | 108,272,532.95 | 108,272,532.95 | 0.00 | Mar.15,2024 | |
| Total | 121,126,137.62 | 121,126,137.62 | 121,126,137.62 |
Otherexplanation:
WuhanJiancheng
| Item | Endingbookvalue |
| Assetsindisposalgroupsheldforsale | |
| Monetaryfunds | 1,469,717.13 |
| Notesreceivable | 40,000.00 |
| Accountsreceivable | 5,309,159.47 |
| Prepayments | 245,719.70 |
| Otherreceivables | 5,249,753.33 |
| Inventory | 7,419,831.60 |
| Othercurrentassets | 2,004,949.59 |
| Fixedassets | 66,145,101.31 |
| Constructioninprogress | 1,028,320.24 |
| Intangibleassets | 16,747,743.46 |
| Goodwill | 1,953,790.56 |
| Longtermdeferredexpenses | 315,990.26 |
| Deferredtaxassets | 220,105.30 |
| Othernoncurrentassets | 122,351.00 |
| Totalassets | 108,272,532.95 |
| Liabilitiesindisposalgroupsheldforsale | |
| Shorttermloans | 23,376,944.44 |
| Accountspayable | 8,898,907.78 |
| Contractliabilities | 1,618,717.24 |
| Payableemployeecompensation | 1,881,313.17 |
| Item | Endingbookvalue |
| Payabletaxesandfees | 120,497.51 |
| Otherpayables | 25,614,407.07 |
| Othercurrentliabilities | 2,894.73 |
| Deferredincome | 3,079,323.34 |
| Deferredtaxliability | 1,986,823.31 |
| Totalliabilities | 66,579,828.59 |
Note:Thecompanytransferred51%oftheequityanddebtofWuhanJiachengthroughpubliclistingtoTianyuEnvironment.WithJune30,2023astheassetevaluationbenchmarkdate,theassessedvalueoftheshareholders’equityofWuhanJiachengisRMB
45.325million.AsofDecember31,2023,thecompanyhasreceivedatotalofRMB16.936millionindebttransferpaymentsandnolessthan30%equitytransferpayments.AsthearticlesofassociationofWuhanJiachenghavenotbeenamended,theboardofdirectorshasnotbeenreelected,andthetransfereehasnotappointedseniormanagementpersonnelsuchasdirectorsandgeneralmanagers,thecompanystillcontrolsWuhanJiacheng.TheremainingequitytransferpaymentwasreceivedonMarch8,2024.
12.Non-currentassetduewithinoneyear
InRMB
| Item | Endingbalance | Openingbalance |
(1)Creditors’investmentmaturingwithinoneyear
□Applicable?Notapplicable
(2)Othercreditors’investmentmaturingwithinoneyear
□Applicable?Notapplicable
13.Othercurrentassets
InRMB
| Item | Endingbalance | Openingbalance |
| Inputtaxtobededucted | 48,868,668.82 | 31,248,541.96 |
| Certificateofdeposit | 30,226,849.32 | |
| Gains/lossesfromassetstobedisposed | 1,623,160.79 | 196,415.59 |
| Prepaymentoftaxes | 25,137,638.10 | 1,152,463.71 |
| VATdeductionamount | 1,606.45 | |
| Total | 105,857,923.48 | 32,597,421.26 |
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
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceonJan.1,2023intheperiod |
Classificationbasisandaccruedratioofbaddebtprovisionforeachstage
(4)Debtinvestmentactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajordebtinvestmentchargedoff:
Explanationondebtinvestmentchargedoff:
Changesinbookbalancewithsignificantchangesinthecurrentperiod'sprovisionforlosses
□Applicable?NotapplicableOtherexplanation:
15.Othercreditors’investment
(1)Othercreditors’investment
InRMB
| Item | Openingbalance | Accrualinterest | Interestadjustment | Changeoffairvalueintheperiod | Endingbalance | Cost | Accumulatedchangeoffairvalue | Impairmentprovisionaccumulatedrecognizedinothercomprehensiveincome | Note |
Changesinprovisionforimpairmentofotherdebtinvestmentsinthecurrentperiod
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
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceonJan.1,2023intheperiod |
Classificationbasisandaccruedratioofbaddebtprovisionforeachstage
(4)Otherdebtinvestmentactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajorotherdebtinvestmentchargedoff:
Explanationonotherdebtinvestmentchargedoff:
Changesinbookbalancewithsignificantchangesinthecurrentperiod'sprovisionforlosses
□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 | Reasonsfordefiningfairvaluemeasurementwithchangesrecognizedinothercomprehensiveincome | Reasonsfortransferringothercomprehensiveincometoretainedearnings |
Otherexplanation:
17.Long-termaccountreceivable
(1)Long-termaccountreceivable
InRMB
| Item | Endingbalance | Openingbalance | Discountraterange | ||||
| Bookbalance | Baddebtreserve | Bookvalue | Bookbalance | Baddebtreserve | Bookvalue | ||
(2)Accruedbaddebtprovision
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtsreserve | Bookvalue | Bookbalance | Baddebtsreserve | Bookvalue | |||||
| Amount | Ratio | Amount | Accruedratio | Amount | Ratio | Amount | Accruedratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
Thebaddebtsreserveismadebasedonportfolio:
InRMB
| Name | Endingbalance | ||
| Bookbalance | Baddebtreserve | Accrualratio计提比例 | |
Explanationondeterminingthebasisofthisportfolio:
Thebaddebtreserveismadeintermsofthegeneralmodelofexpectedcreditlosses
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceonJan.1,2023intheperiod |
Classificationbasisandaccruedratioofbaddebtprovisionforeachstage
(3)Baddebtprovisionaccrued,collectedorreversalBaddebtprovisionaccruedintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Written-off | Other | |||
| Baddebtprovision | ||||||
| Total | ||||||
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
Otherexplanation:
(4)Long-termaccountreceivableactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajorlong-termaccountreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationonlong-termaccountreceivablechargedoff:
18.Long-termequipment
InRMB
| Theinvestedentity | Openingbalance(bookvalue) | Openingbalanceofimpairmentprovision | Currentchanges(+/-) | Endingbalance(bookvalue) | Endingbalanceofimpairmentprovision | |||||||
| Additionalinvestment | Capitalreduction | Investmentgainsrecognizedunderequity | Othercomprehensiveincomeadjustment | Otherequitychange | Cashdividendorprofitannouncedtoissued | Accrualofimpairmentprovision | Other | |||||
| I.Jointventure | ||||||||||||
| II.Associatedenterprise | ||||||||||||
| ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | 2,170,792.11 | -583,068.30 | 1,587,723.81 | |||||||||
| ZhuhaiHengxingFeedIndustrialCo.,Ltd. | 30,214,746.29 | 3,438,389.19 | 33,653,135.48 | |||||||||
| ShenliangIntelligentWulianEquityInvestmentFund(Shenzhen)PartnershipEnterprise(Limited) | 26,883,128.82 | 198,760.96 | 27,081,889.78 | |||||||||
| ShenzhenShenyuanDataTech.Co.,Ltd | 11,407,867. | 278,310.00 | 11,686,177 | |||||||||
| 41 | .41 | |||||
| CRSanjiu | ||||||
| ShenzhenTianjiOptoelectronicTechnologyCo.,Ltd | ||||||
| ShenbaoLiaoyuanInvestmentCompany | 57,628.53 | |||||
| ShenzhenShenbao(Xinmin)FoodsCo.,Ltd. | 2,870,000.00 | |||||
| ChangzhouShenbaoChacangE-businessCo.,ltd. | ||||||
| ShenzhenShichumingmenCateringManagementCo.,Ltd. | ||||||
| Subtotal | 70,676,534.63 | 3,332,391.85 | 74,008,926.48 | 2,927,628.53 | ||
| Total | 70,676,534.63 | 3,332,391.85 | 74,008,926.48 | 2,927,628.53 |
Therecoverableamountisdeterminedbasedonthenetamountafterdeductingdisposalexpensesfromfairvalue
□Applicable?NotapplicableTherecoverableamountisdeterminedbasedonthepresentvalueofexpectedfuturecashflows
□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 | 583,090,328.15 | 583,090,328.15 | |
| 2.Currentamountincreased | 66,931,987.42 | 66,931,987.42 | |
| (1)Outsourcing | |||
| (2)Inventory\fixedassets\constructioninprocesstransfer-in | 66,931,987.42 | 66,931,987.42 | |
| (3)Increasedbycombination |
3.Currentamountdecreased
| 3.Currentamountdecreased | 35,269,941.48 | 35,269,941.48 | |
| (1)Disposal | |||
| (2)Othertransfer-out | 11,040,277.30 | 11,040,277.30 | |
| Transfer-intofixedassets | 24,229,664.18 | 24,229,664.18 | |
| 4.Endingbalance | 614,752,374.09 | 614,752,374.09 | |
| II.Accumulateddepreciationandaccumulatedamortization | |||
| 1.Openingbalance | 365,952,866.39 | 365,952,866.39 | |
| 2.Currentamountincreased | 16,294,197.86 | 16,294,197.86 | |
| (1)Accrualoramortization | 15,637,413.49 | 15,637,413.49 | |
| Transfer-intofixedassets | 656,784.37 | 656,784.37 | |
| 3.Currentamountdecreased | 31,091,722.05 | 31,091,722.05 | |
| (1)Disposal | |||
| (2)Othertransfer-out | 10,488,263.44 | 10,488,263.44 | |
| Transfer-intofixedassets | 20,603,458.61 | 20,603,458.61 | |
| 4.Endingbalance | 351,155,342.20 | 351,155,342.20 | |
| 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 | 263,597,031.89 | 263,597,031.89 | |
| 2.Openingbookvalue | 217,137,461.76 | 217,137,461.76 |
Therecoverableamountisdeterminedbasedonthenetamountafterdeductingdisposalexpensesfromfairvalue
□Applicable?NotapplicableTherecoverableamountisdeterminedbasedonthepresentvalueofexpectedfuturecashflows
□Applicable?NotapplicableReasonsforsignificantdiscrepanciesbetweentheaforementionedinformationandtheinformationorexternalinformationusedinpreviousyears'impairmenttesting
Reasonsforsignificantdiscrepanciesbetweentheinformationusedinthecompany'spreviousannualimpairmenttestsandtheactualsituationofthecurrentyearOtherexplanation:
(2)Measuredbyfairvalue
□Applicable?Notapplicable
(3)Convertedtoinvestmentrealestateandmeasureatfairvalue
InRMB
| Item | Accountsbeforeconversion | Amount | Reasonforconversion | Approvalprocedures | Impactongains/losses | Impactonothercomprehensiveincome |
(4)Investmentrealestatewithoutpropertycertificatecompleted
InRMB
| Item | Bookvalue | Reasonfornotobtainingthepropertyrightscertificate |
| 7th,and20thfloorsofDongguanNo.1GrainandOilHeadquarters | 48,448,609.84 | Thejointinspectionhasnotbeencompletedtemporarily |
| OfficeBuildingRentalHaizhifengPart | 821,981.29 | Remainingissues,currentlybeingfollowedup |
Otherexplanation:
21.Fixedassets
InRMB
| Item | Endingbalance | Openingbalance |
| Fixedassets | 2,171,962,173.22 | 2,138,124,994.69 |
| Disposaloffixedassets | 7,552.00 | 3,211,544.17 |
| Total | 2,171,969,725.22 | 2,141,336,538.86 |
(1)Fixedassets
InRMB
| Item | Houseandbuildings | Machineryequipment | Transportequipment | Electronicandotherequipment | Total |
| I.Originalbookvalue: | |||||
| 1.Openingbalance | 1,908,564,445.65 | 780,690,297.07 | 19,036,152.17 | 100,838,291.42 | 2,809,129,186.31 |
| 2.Currentamountincreased | 201,459,620.17 | 22,382,029.57 | 323,000.00 | 5,503,870.57 | 229,668,520.31 |
| (1)Purchase | 11,346,841.88 | 323,000.00 | 4,047,508.43 | 15,717,350.31 | |
| (2)Constructioninprogresstransfer-in | 175,368,080.88 | 11,035,187.69 | 1,456,362.14 | 187,859,630.71 | |
| (3)Increasedbycombination | |||||
| (3)Investmentrealestatetransfer-in | 24,229,664.18 | 24,229,664.18 |
| (4)Otherincrease | 1,861,875.11 | 1,861,875.11 | |||
| 3.Currentamountdecreased | 79,358,006.40 | 23,512,608.78 | 3,152,341.42 | 2,220,202.35 | 108,243,158.95 |
| (1)Disposalorscrap | 6,126,855.16 | 589,267.95 | 1,431,109.72 | 8,147,232.83 | |
| (2)Investmentrealestatetransfer-out | 14,613,525.66 | 14,613,525.66 | |||
| (3)Classifiedintoheld-for-sale | 63,240,700.50 | 17,385,753.62 | 2,558,545.75 | 789,092.63 | 83,974,092.50 |
| (4)Otherdecrease | 1,503,780.24 | 4,527.72 | 1,508,307.96 | ||
| 4.Endingbalance | 2,030,666,059.42 | 779,559,717.86 | 16,206,810.75 | 104,121,959.64 | 2,930,554,547.67 |
| II.Accumulateddepreciation | |||||
| 1.Openingbalance | 296,442,606.89 | 289,288,673.36 | 15,269,563.39 | 63,350,394.38 | 664,351,238.02 |
| 2.Currentamountincreased | 65,214,664.87 | 38,402,273.33 | 1,145,879.23 | 11,217,477.77 | 115,980,295.20 |
| (1)Accrual | 44,611,206.26 | 38,402,273.33 | 1,145,879.23 | 11,217,477.77 | 95,376,836.59 |
| (2)Investmentrealestatetransfer-in | 20,603,458.61 | 20,603,458.61 | |||
| 3.Currentamountdecreased | 10,808,252.37 | 9,537,430.21 | 2,552,029.26 | 1,664,400.64 | 24,562,112.48 |
| (1)Disposalorscrap | 4,569,895.59 | 476,824.83 | 1,200,678.50 | 6,247,398.92 | |
| (2)Investmentrealestatetransfer-out | 363,598.43 | 363,598.43 | |||
| (3)Classifiedintoheld-for-sale | 10,322,530.00 | 4,967,534.62 | 2,075,204.43 | 463,722.14 | 17,828,991.19 |
| (4)Otherdecrease | 122,123.94 | 122,123.94 | |||
| 4.Endingbalance | 350,849,019.39 | 318,153,516.48 | 13,863,413.36 | 72,903,471.51 | 755,769,420.74 |
| III.Impairmentprovision | |||||
| 1.Openingbalance | 6,627,468.94 | 25,484.66 | 6,652,953.60 | ||
| 2.Currentamountincreased | |||||
| (1)Accrual |
3.Currentamountdecreased
| 3.Currentamountdecreased | 3,814,405.10 | 15,594.79 | 3,829,999.89 | ||
| (1)Disposalorscrap | 3,814,405.10 | 15,594.79 | 3,829,999.89 |
4.Endingbalance
| 4.Endingbalance | 2,813,063.84 | 9,889.87 | 2,822,953.71 | ||
| IV.Bookvalue | |||||
| 1.Endingbookvalue | 1,679,817,040.03 | 458,593,137.54 | 2,343,397.39 | 31,208,598.26 | 2,171,962,173.22 |
| 2.Openingbookvalue | 1,612,121,838.76 | 484,774,154.77 | 3,766,588.78 | 37,462,412.38 | 2,138,124,994.69 |
(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 |
| grainreservewarehouse | 54,871,599.05 | Solvingfirefightingsafetyissues |
| Officebuilding | 13,578,444.19 | Remainingissues,currentlybeingfollowed |
| 1stto3rdfloorsofGrainandOilHeadquarters | 4,527,320.33 | Thejointinspectionhasnotbeencompletedtemporarily |
| Coldstoragehouse | 7,476,162.03 | Solvingfirefightingsafetyissues |
Otherexplanation:
(5)Impairmenttestingoffixedassets
□Applicable?Notapplicable
(6)Disposaloffixedassets
InRMB
| Item | Endingbalance | Openingbalance |
| Machineryequipment | 7,368.24 | 3,211,360.41 |
| Electronicequipmentandothers | 183.76 | 183.76 |
| Total | 7,552.00 | 3,211,544.17 |
Otherexplanation:
22.Constructioninprogress
InRMB
| Item | Endingbalance | Openingbalance |
| Constructioninprogress | 51,288,301.16 | 186,884,912.13 |
| Total | 51,288,301.16 | 186,884,912.13 |
(1)Constructioninprogress
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Dongguangrainstorageand | 32,632,618.62 | 32,632,618.62 | 127,376,376.09 | 127,376,376.09 | ||
| wharfmatchingproject | ||||||
| SmallpackagingproductionlineofDongguanIndustrialandTrade | 8,880,595.19 | 8,880,595.19 | 8,250,772.32 | 8,250,772.32 | ||
| CDEstorageofDongguanFoodIndustrialParkandwharfmatingprojects | 4,965,118.29 | 4,965,118.29 | 4,152,832.01 | 4,152,832.01 | ||
| Semiautomatedrenovationprojectforpowderpackagingproductionline | 1,784,995.63 | 1,784,995.63 | 1,777,617.73 | 1,777,617.73 | ||
| DeepprocessingofDongguanOil&Food | 513,729.78 | 513,729.78 | 513,729.78 | 513,729.78 | ||
| JiangxiaBioindustrialParkConstructionProject | 31,317,609.78 | 31,317,609.78 | ||||
| Shenyuandatatechnologysmartlogisticsparkmanagementplatformproject | 2,777,600.00 | 2,777,600.00 | ||||
| Other | 7,256,767.03 | 4,745,523.38 | 2,511,243.65 | 15,463,897.80 | 4,745,523.38 | 10,718,374.42 |
| Total | 56,033,824.54 | 4,745,523.38 | 51,288,301.16 | 191,630,435.51 | 4,745,523.38 | 186,884,912.13 |
(2)Changesofmajorconstructioninprogress
InRMB
| Item | Budget | Openingbalance | Currentamountincreased | Transfer-infixedassets | OtherdecreasedinthePeriod | Endingbalance | Proportionofprojectinvestmentinbudget | Progress | Accumulatedcapitalizationofinterest | Including:amountofcapitalizationofinterestinPeriod | InterestcapitalizationrateinPeriod | Capitalresources |
| Dongguangrainstorageandwharfmatchingproje | 1,242,000,000.00 | 127,376,376.09 | 96,404,766.99 | 191,148,524.46 | 32,632,618.62 | 88.53% | 88.53% | 37,221,995.16 | 1,003,756.90 | 3.00% | Loansfromfinancialinstitution |
| ct | ||||||||||||
| CDEstorageofDongguanFoodIndustrialParkandwharfmatingprojects | 1,087,300,000.00 | 4,152,832.01 | 1,191,586.91 | 379,300.63 | 4,965,118.29 | 98.79% | 98.79% | 86,730,568.74 | Loansfromfinancialinstitution | |||
| Total | 2,329,300,000.00 | 131,529,208.10 | 97,596,353.90 | 191,527,825.09 | 37,597,736.91 | 123,952,563.90 | 1,003,756.90 |
(3)Provisionforimpairmentofconstructioninprogress
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
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.Current
| amountdecreased |
| (1)Disposal |
| (2)Other |
4.Endingbalance
| 4.Endingbalance | 416,771.28 | 416,771.28 | |
| II.Accumulateddepreciation | |||
| 1.Openingbalance | 48,461.88 | 48,461.88 | |
| 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 | 58,154.28 | 58,154.28 | |
| III.Impairmentprovision | |||
| 1.Openingbalance | |||
| 2.Currentamountincreased | |||
| (1)Accrual |
3.Currentamountdecreased
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Other |
4.Endingbalance
| 4.Endingbalance | |||
| IV.Bookvalue | |||
| 1.Endingbookvalue | 358,617.00 | 358,617.00 | |
| 2.Openingbookvalue | 368,309.40 | 368,309.40 |
(2)Impairmenttestingofproductivebiologicalassetmeasuredatcostmodel
□Applicable?Notapplicable
(3)Measuredatfairvalue
□Applicable?Notapplicable
24.Oilandgasasset
□Applicable?Notapplicable
25.Right-of-useasset
InRMB
| Item | Houseandbuilding | Landuserights | Total |
| I.Originalbookvalue | |||
| 1.Openingbalance | 116,758,420.82 | 1,823,669.22 | 118,582,090.04 |
| 2.Currentamountincreased | 7,645,189.94 | 7,645,189.94 | |
| (1)Lease | 7,645,189.94 | 7,645,189.94 | |
| 3.Currentamountdecreased | 13,928,811.86 | 13,928,811.86 | |
| Otherdecrease | 13,928,811.86 | 13,928,811.86 | |
| 4.Endingbalance | 110,474,798.90 | 1,823,669.22 | 112,298,468.12 |
| II.Accumulateddepreciation | |||
| 1.Openingbalance | 39,805,615.38 | 471,636.38 | 40,277,251.76 |
| 2.Currentamountincreased | 22,095,885.37 | 232,168.56 | 22,328,053.93 |
| (1)Accrual | 22,095,885.37 | 232,168.56 | 22,328,053.93 |
3.Currentamountdecreased
| 3.Currentamountdecreased | 7,239,985.73 | 7,239,985.73 | |
| (1)Disposal | 7,239,985.73 | 7,239,985.73 | |
| (2)Otherdecrease | |||
| 4.Endingbalance | 54,661,515.02 | 703,804.94 | 55,365,319.96 |
| III.Impairmentprovision | |||
| 1.Openingbalance | |||
| 2.Currentamountincreased | |||
| (1)Accrual |
3.Currentamountdecreased
| 3.Currentamountdecreased |
| (1)Disposal |
4.Endingbalance
| 4.Endingbalance | |||
| IV.Bookvalue | |||
| 1.Endingbookvalue | 55,813,283.88 | 1,119,864.28 | 56,933,148.16 |
| 2.Openingbookvalue | 76,952,805.44 | 1,352,032.84 | 78,304,838.28 |
(2)Impairmenttestingofright-of-useassets
□Applicable?NotapplicableOtherexplanation:
26.Intangibleassets
(1)Intangibleassets
InRMB
| Item | Landuseright | Patent | Non-patenttechnology | Trademarkrights | Softwareusagerights | Forestuserights | Shopuserights | Other | Total |
| I.Originalbookvalue | |||||||||
| 1.Openingbalance | 640,477,282.33 | 49,980,439.11 | 184,073.32 | 65,671,852.28 | 22,859,104.98 | 25,243,910.01 | 804,416,662.03 | ||
| 2.Current | 3,895,205. | 4,335,935 | 20,269,44 | 450,000 | 28,950,581. |
| amountincreased | 38 | .67 | 0.41 | .00 | 46 | ||||
| (1)Purchase | 15,464,440.41 | 450,000.00 | 15,914,440.41 | ||||||
| (2)InternalR&D | 3,895,205.38 | 1,104,197.48 | 4,999,402.86 | ||||||
| (3)Increasedbycombination | 0.00 | ||||||||
| (4)Otherincrease | 3,231,738.19 | 4,805,000.00 | 8,036,738.19 | ||||||
| 3.Currentamountdecreased | 52,309,996.37 | 3,231,738.19 | 86,000.00 | 1,766,377.74 | 57,394,112.30 | ||||
| (1)Disposal | 9,704,520.00 | 86,000.00 | 1,217,887.18 | 11,008,407.18 | |||||
| (2)Classifiedintoheld-for-sale | 38,233,585.69 | 548,490.56 | 38,782,076.25 | ||||||
| (3)Otherdecrease | 4,371,890.68 | 3,231,738.19 | 7,603,628.87 | ||||||
| 4.Endingbalance | 588,167,285.96 | 50,643,906.30 | 4,434,008.99 | 84,174,914.95 | 22,859,104.98 | 25,243,910.01 | 450,000.00 | 775,973,131.19 | |
| II.Accumulateddepreciation | |||||||||
| 1.Openingbalance | 128,440,294.77 | 30,085,339.23 | 146,185.83 | 24,302,856.79 | 7,717,446.37 | 12,612,862.07 | 203,304,985.06 | ||
| 2.Currentamountincreased | 15,961,912.76 | 1,093,550.90 | 1,296,210.24 | 11,702,308.50 | 772,863.05 | 3,533,492.09 | 37,500.00 | 34,397,837.54 | |
| (1)Accrual | 15,961,912.76 | 1,093,550.90 | 27,484.44 | 11,518,600.15 | 772,863.05 | 3,533,492.09 | 37,500.00 | 32,945,403.39 | |
| (2)Otherincrease | 1,268,725.80 | 183,708.35 | 1,452,434.15 | ||||||
| 3.Currentamountdecreased | 12,137,743.41 | 1,268,725.80 | 60,125.09 | 141,935.87 | 13,608,530.17 | ||||
| (1)Disposal | 1,326,284.40 | 60,125.09 | 77,945.30 | 1,464,354.79 | |||||
| (2)Classifiedintoheld-for-sale | 9,116,737.55 | 9,116,737.55 | |||||||
| (3)Otherdecrease | 1,694,721.46 | 1,268,725.80 | 63,990.57 | 3,027,437.83 | |||||
| 4.Endingbalance | 132,264,464.12 | 29,910,164.33 | 1,382,270.98 | 35,863,229.42 | 8,490,309.42 | 16,146,354.16 | 37,500.00 | 224,094,292.43 | |
| III.Impairmentprovision | |||||||||
| 1.Openingbalance | 5,553,283.54 | 1,130,341.88 | 6,683,625.42 | ||||||
| 2.Currentamount |
| increased | ||||
| (1)Accrual | ||||
| Disposal | ||||
| 3.Currentamountdecreased | 1,130,341.88 | 1,130,341.88 | ||
| (1)Disposal | 1,130,341.88 | 1,130,341.88 |
4.Endingbalance
| 4.Endingbalance | 5,553,283.54 | 5,553,283.54 | |||||||
| IV.Bookvalue | |||||||||
| 1.Endingbookvalue | 455,902,821.84 | 15,180,458.43 | 3,051,738.01 | 48,311,685.53 | 14,368,795.56 | 9,097,555.85 | 412,500.00 | 546,325,555.22 | |
| 2.Openingbookvalue | 512,036,987.56 | 14,341,816.34 | 37,887.49 | 40,238,653.61 | 15,141,658.61 | 12,631,047.94 | 594,428,051.55 |
RatiooftheintangibleassetsfrominternalR&Dinbalanceofintangibleassetsatperiod-end
(2)Landuserightswithoutcertificateofownership
InRMB
| Item | Bookvalue | Reasonsforwithoutthepropertycertification |
| Landuseright | 7,849,990.00 | Stillinprogress |
Otherexplanation:
(3)Impairmenttestingofintangibleassets
□Applicable?Notapplicable
27.Goodwill
(1)Originalbookvalueofgoodwill
InRMB
| Theinvestedentityormattersforminggoodwill | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | ||
| Formedbybusinesscombination | Disposal | |||||
| WuhanJiachengBiotechnologyCo.,Ltd | 1,953,790.56 | 1,953,790.56 | ||||
| YunnanPu’erTeaTradingCenterCo.,Ltd. | 673,940.32 | 673,940.32 | ||||
| Total | 2,627,730.88 | 1,953,790.56 | 673,940.32 | |||
(2)Impairmentprovisionofgoodwill
InRMB
| Theinvestedentityormattersforminggoodwill | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | ||
| Accrual | Dispose | |||||
| YunnanPu’erTeaTradingCenterCo.,Ltd. | 673,940.32 | 673,940.32 | ||||
| Total | 673,940.32 | 673,940.32 | ||||
(3)Relatedinformationofassetgrouporassetgroupportfoliowheregoodwillisincluded
| Name | Componentandbasisofassetgrouporassetgroupportfolio | Operationsegmentandbasis | Consistentwithpreviousyears(Y/N)? |
Changesinassetgrouporassetgroupportfolio
| Name | Componentbeforechange | Componentafterchange | Objectivefactandbasisleadingtochange |
Otherexplanation
(4)Specificmethodofdeterminingtherecoverableamount
Therecoverableamountisdeterminedbasedonthenetamountafterdeductingdisposalexpensesfromfairvalue?Applicable?NotapplicableTherecoverableamountisdeterminedbasedonthepresentvalueofexpectedfuturecashflows
□Applicable?NotapplicableReasonsforsignificantdiscrepanciesbetweentheaforementionedinformationandtheinformationorexternalinformationusedinpreviousyears'impairmenttestingReasonsforsignificantdiscrepanciesbetweentheinformationusedinthecompany'spreviousannualimpairmenttestsandtheactualsituationofthecurrentyear
(5)Completionofperformancecommitmentsandcorrespondingimpairmentofgoodwill
Whengoodwillisformed,thereisaperformancecommitmentandthereportingperiodorthepreviousperiodiswithintheperformancecommitmentperiod
□Applicable?NotapplicableOtherexplanation:
28.Long-termexpensestobeapportioned
InRMB
| Item | Openingbalance | Currentamountincreased | Currentamortization | Otherdecreased | Endingbalance |
| Improvementexpenditureforfixassets | 14,672,529.67 | 2,494,068.98 | 3,769,714.34 | 4,851,884.96 | 8,544,999.35 |
| Decorationfee | 14,336,656.34 | 2,626,952.90 | 3,215,344.57 | 1,331,421.28 | 12,416,843.39 |
| Other | 4,067,063.89 | 1,340,981.13 | 1,675,569.71 | 3,732,475.31 | |
| Total | 33,076,249.90 | 6,462,003.01 | 8,660,628.62 | 6,183,306.24 | 24,694,318.05 |
Otherexplanation:
29.Deferredincometaxasset/Deferredincometaxliabilities
(1)Deferredincometaxassetsnotoffset
InRMB
| Item | Endingbalance | Openingbalance | ||
| Deductibletemporarydifferences | Deferredincometaxasset | Deductibletemporarydifferences | Deferredincometaxasset | |
| Impairmentprovisionforassets | 79,024,031.58 | 18,487,424.12 | 61,591,107.94 | 14,415,444.33 |
| Unrealizedprofitsininternaltransactions | 3,110,821.11 | 1,173,392.02 | 3,044,122.07 | 456,618.31 |
| Leaseliabilities | 60,423,752.25 | 9,667,435.83 | 82,207,570.11 | 13,502,231.97 |
| Creditimpairmentloss | 131,582,333.01 | 32,508,076.97 | 101,461,154.87 | 24,872,591.18 |
| Total | 274,140,937.95 | 61,836,328.94 | 248,303,954.99 | 53,246,885.79 |
(2)Deferredincometaxliabilitynotoffset
InRMB
| Item | Endingbalance | Openingbalance | ||
| Taxabletemporarydifferences | Deferredincometaxliabilities | Taxabletemporarydifferences | Deferredincometaxliabilities | |
| Assetevaluationincrementofenterprisecombineunderdifferentcontrol | 43,635,535.04 | 10,908,883.86 | 59,019,394.01 | 13,381,949.47 |
| Right-of-useasset | 56,763,213.31 | 9,108,070.16 | 78,304,838.28 | 12,857,821.85 |
| Total | 100,398,748.35 | 20,016,954.02 | 137,324,232.29 | 26,239,771.32 |
(3)Deferredincometaxassetsanddeferredincometaxliabilitieslistedafteroff-set
InRMB
| Item | Trade-offbetweenthedeferredincometaxassetsandliabilities | Endingbalanceofdeferredincometaxassetsorliabilitiesafteroff-set | Trade-offbetweenthedeferredincometaxassetsandliabilitiesatperiod-begin | Openingbalanceofdeferredincometaxassetsorliabilitiesafteroff-set |
| Deferredincometaxasset | 9,079,033.56 | 52,757,295.38 | 12,851,721.79 | 40,395,164.00 |
| Deferredincometaxliabilities | 9,079,033.56 | 10,937,920.46 | 12,851,721.79 | 13,388,049.53 |
(4)Detailsofuncertaindeferredincometaxassets
InRMB
| Item | Endingbalance | Openingbalance |
| Deductibletemporarydifferences | 73,593,637.62 | 139,979,872.07 |
| Deductibleloss | 222,144,931.91 | 205,772,485.05 |
| Total | 295,738,569.53 | 345,752,357.12 |
(5)Deductiblelossesofde-recognizeddeferredincometaxassetsexpiringinfollowingyears
InRMB
| Year | Endingbalance | Beginningbalance | Note |
| 2023 | 43,533,321.78 |
| 2024 | 16,724,256.16 | 26,558,015.85 |
| 2025 | 57,064,985.83 | 22,735,816.79 |
| 2026 | 19,372,001.00 | 38,812,670.46 |
| 2027 | 30,608,347.99 | 74,132,660.17 |
| 2028 | 72,586,319.51 | |
| 2029 | 6,398,410.06 | |
| 2030 | 1,592,707.06 | |
| 2031 | 11,566,491.62 | |
| 2032 | 6,231,412.68 | |
| Total | 222,144,931.91 | 205,772,485.05 |
Otherexplanation:
30.Othernon-currentasset
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Prepaidforsystem | 3,774,032.76 | 3,774,032.76 | 8,831,064.90 | 8,831,064.90 | ||
| Propertytoberelocated | 3,523,917.24 | 3,523,917.24 | ||||
| Prepaidforequipment | 122,351.00 | 122,351.00 | ||||
| Total | 7,297,950.00 | 7,297,950.00 | 8,953,415.90 | 8,953,415.90 | ||
Otherexplanation:
31.Theassetsrightsrestrictedtillendoftheperiod
InRMB
| Item | Ending | Beginning | ||||||
| Bookbalance | Bookvalue | Restrictiontype | Restrictionstatus | Bookbalance | Bookvalue | Restrictiontype | Restrictionstatus | |
| Monetaryfund | 5,464,837.31 | 5,464,837.31 | Guaranteedeposit,creditdeposit,lawsuitfreezing,etc. | 1,008,301.74 | 1,008,301.74 | Guaranteedeposit,creditdeposit.etc | ||
| Total | 5,464,837.31 | 5,464,837.31 | 1,008,301.74 | 1,008,301.74 | ||||
Otherexplanation:
32.Short-termloans
(1)Bycategory
InRMB
| Item | Endingbalance | Openingbalance |
| GuaranteedLoan | 10,015,277.78 | |
| Loanincredit | 1,223,462,519.16 | 1,182,195,809.59 |
| Total | 1,223,462,519.16 | 1,192,211,087.37 |
Explanationoncategoryofshort-termloans:
(2)Overdueandunpaidshort-termloans
Theoverdueandunpaidshort-termloanswas0.00yuanatperiod-end,includingfollowmajoramount:
InRMB
| Borrower | Endingbalance | Loanrate | Overduetime | Overdueinterest |
Otherexplanation:
33.Tradablefinancialliability
| Item | Endingbalance | Openingbalance |
| Tradablefinancialliability | 288,486.18 | |
| Including: | ||
| Including | 288,486.18 | |
| Including: | ||
| Total | 288,486.18 |
Otherexplanation:
34.Derivativefinancialliability
InRMB
| Item | Endingbalance | Openingbalance |
Otherexplanation:
35.Notepayable
InRMB
| Category | Endingbalance | Openingbalance |
| Total | 0.00 | 0.00 |
Notesexpiringatyear-endnotrepaidwas0.00yuan.
36.Accountpayable
(1)Accountpayable
InRMB
| Item | Endingbalance | Openingbalance |
| Tradeaccountspayable | 157,073,307.00 | 193,989,937.97 |
| Accountpayableforengineering | 176,815,688.99 | 196,037,079.96 |
| Other | 2,276,200.81 | 122,000.20 |
| Total | 336,165,196.80 | 390,149,018.13 |
(2)Majoraccountspayablewithageoveroneyear
InRMB
| Item | Endingbalance | Reasonfornotrepayingorcarry-over |
Otherexplanation:
37.Otheraccountpayable
InRMB
| Item | Endingbalance | Openingbalance |
| Dividendpayable | 2,933,690.04 | 2,933,690.04 |
| Otheraccountpayable | 274,753,900.79 | 296,860,258.44 |
| Total | 277,687,590.83 | 299,793,948.48 |
(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 | 212,017,192.04 | 212,410,539.40 |
| Depositandmargin | 59,175,450.98 | 73,717,653.72 |
| Engineeringqualityassurancedepositandfinalpayment | 2,697,829.08 | 1,360,325.16 |
| Accruedexpenses | 863,428.69 | 9,371,740.16 |
| Total | 274,753,900.79 | 296,860,258.44 |
2)Significantotheraccountpayablewithover1yearagingoroverduesignificantotheraccountpayable
InRMB
| Item | Endingbalance | Reasonfornotrepayingorcarry-over |
3)Top5otheraccountsreceivableatendingbalancebyarrearspartyOtherexplanation:
38.Accountsreceivedinadvance
(1)Accountsreceivedinadvance
InRMB
| Item | Endingbalance | Openingbalance |
| Leasepaymentreceivedinadvance | 3,654.89 | |
| Other | 1,081,046.71 | 1,355,802.01 |
| Total | 1,084,701.60 | 1,355,802.01 |
(2)Significantaccountsreceivedinadvancewithover1yearagingoroverduesignificantaccountsreceivedinadvance
InRMB
| Item | Endingbalance | Reasonfornotrepayingorcarry-over |
InRMB
| Item | Changeinamount | Reasonforchange |
39.Contractualliabilities
InRMB
| Item | Endingbalance | Openingbalance |
| Salesprice | 86,566,253.73 | 110,177,908.96 |
| Total | 86,566,253.73 | 110,177,908.96 |
Significantcontractualliabilitieswithagingover1year
InRMB
| Item | Endingbalance | Reasonfornotrepayingorcarry-over |
Amountandreasonsforimportantchangesinbookvalueintheperiod
InRMB
| Item | Changeinamount | Reasonforchange |
40.Wagepayable
(1)Wagepayable
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| I.Short-termcompensation | 324,402,647.33 | 286,007,238.67 | 357,270,189.90 | 253,139,696.10 |
| II.After-service | 13,955,184.50 | 32,455,927.34 | 34,096,869.34 | 12,314,242.50 |
| welfare-definedcontributionplans | ||||
| III.Dismissedwelfare | 876,674.60 | 385,332.80 | 501,282.80 | 760,724.60 |
| Total | 339,234,506.43 | 318,848,498.81 | 391,868,342.04 | 266,214,663.20 |
(2)Short-termcompensation
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| 1.Wage,bonus,allowanceandsubsidy | 315,645,971.54 | 240,740,426.65 | 311,501,327.06 | 244,885,071.13 |
| 2.Employees’welfare | 798,260.16 | 8,448,468.28 | 9,157,863.75 | 88,864.69 |
| 3.Socialinsurancecharges | 373,330.56 | 8,256,360.36 | 8,327,141.79 | 302,549.13 |
| Including:medicalinsurancepremium | 330,963.19 | 7,545,320.54 | 7,603,604.83 | 272,678.90 |
| Industrialinjuryinsurancepremiums | 8,429.56 | 323,901.44 | 329,001.07 | 3,329.93 |
| Maternityinsurancepremiums | 33,937.81 | 387,138.38 | 394,535.89 | 26,540.30 |
| 4.Housingpublicreserve | 50,807.20 | 20,830,550.40 | 20,844,569.40 | 36,788.20 |
| 5.Tradeunionfeeandeducationfee | 7,534,277.87 | 7,674,432.98 | 7,391,287.90 | 7,817,422.95 |
| Othershort-termcompensation | 57,000.00 | 48,000.00 | 9,000.00 | |
| Total | 324,402,647.33 | 286,007,238.67 | 357,270,189.90 | 253,139,696.10 |
(3)Definedcontributionplans
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| 1.Basicendowmentinsurancepremiums | 350,358.14 | 16,917,593.00 | 17,240,599.78 | 27,351.36 |
| 2.Unemploymentinsurancepremiums | 10,256.72 | 372,615.47 | 376,496.38 | 6,375.81 |
| 3.Enterpriseannuity | 13,594,569.64 | 15,165,718.87 | 16,479,773.18 | 12,280,515.33 |
| Total | 13,955,184.50 | 32,455,927.34 | 34,096,869.34 | 12,314,242.50 |
Otherexplanation:
41.Taxespayable
InRMB
| Item | Endingbalance | Openingbalance |
| VAT | 3,929,827.56 | 4,549,095.77 |
| Enterpriseincometax | 78,612,383.92 | 59,136,130.15 |
| Personalincometax | 919,489.66 | 3,246,378.11 |
| Urbanmaintenanceandconstructiontax | 184,436.23 | 254,333.53 |
| Propertytax | 1,402,724.23 | 1,333,445.64 |
| Stamptax | 924,833.66 | 1,175,093.10 |
| Educationalsurtax | 253,657.15 | 185,644.26 |
| Deedtax | 664,227.84 | 664,227.84 |
| Usetaxofland | 15,205.45 | 190,127.68 |
| Other | 4,908.73 | |
| Total | 86,906,785.70 | 70,739,384.81 |
Otherexplanation:
42.Liabilityheldforsale
InRMB
| Item | Endingbalance | Openingbalance |
| SubsidiaryWuhanJiacheng | 66,579,828.59 | |
| Total | 66,579,828.59 |
Otherexplanation:
43.Non-currentliabilitiesduewithinoneyear
InRMB
| Item | Endingbalance | Openingbalance |
| Leaseliabilitiesduewithinoneyear | 22,805,473.76 | 21,770,690.45 |
| Total | 22,805,473.76 | 21,770,690.45 |
Otherexplanation:
44.Othercurrentliabilities
InRMB
| Item | Endingbalance | Openingbalance |
| Payablerefundpayment | 33,600.00 | |
| Deferredoutputtax | 3,896,108.63 | 1,078,519.07 |
| Other | 31.93 | |
| Total | 3,896,140.56 | 1,112,119.07 |
Changesofshort-termbondspayable:
InRMB
| Bonds | Facevalue | Issuancedate | Bondsterm | Amountissued | Openingbalance | Issuedintheperiod | Accrualinterestbyfacevalue | Premiumanddiscountamortization | Paidintheperiod | Endingbalance | Breachcontractornot(Y/N)? |
Total
| Total | -- | -- | -- |
Otherexplanation:
45.Long-termloan
(1)Categoryoflong-termloan
InRMB
| Item | Endingbalance | Openingbalance |
Explanationoncategoryoflong-termloans:
Otherexplanation,includinginterestraterange:
46.Bondspayable
(1)Bondspayable
InRMB
| Item | Endingbalance | Openingbalance |
| Total | 0.00 | 0.00 |
(2)Changesofbondspayable(notincludingtheotherfinancialinstrumentofpreferredstockandperpetualcapitalsecuritiesthatclassifyasfinancialliability)
InRMB
| Bonds | Facevalue | Issuancedate | Bondsterm | Amountissued | Openingbalance | Issuedintheperiod | Accrualinterestbyfacevalue | Premiumanddiscountamortization | Paidintheperiod | Endingbalance | Breachcontractornot(Y/N)? |
Total
| Total | -- |
(3)Convertibleconditionsandtimeforsharestransferfortheconvertiblebonds
(4)OtherfinancialinstrumentsclassifiedasfinancialliabilityBasicinformationoftheoutstandingpreferredstockandperpetualcapitalsecuritiesatperiod-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 | 64,121,413.50 | 88,673,874.53 |
| Unrecognizedfinancingcharges | -3,570,988.00 | -6,466,304.42 |
| Leaseliabilitiesduewithinoneyear | -22,805,473.76 | -21,770,690.45 |
| Total | 37,744,951.74 | 60,436,879.66 |
Otherexplanation:
48.Long-termaccountpayable
InRMB
| Item | Endingbalance | Openingbalance |
| Specialaccountpayable | 17,994,633.05 | 17,620,572.48 |
| Total | 17,994,633.05 | 17,620,572.48 |
(1)Bynature
InRMB
| Item | Endingbalance | Openingbalance |
Otherexplanation:
(2)Specialaccountpayable
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | Causes |
| Depreciationfundsforfixedassetsofgovernmentreservegraindepots | 16,121,280.39 | 93,122.57 | 16,214,402.96 | ||
| Specialfundingforresearchinthegrainpublicwelfareindustry | 207,477.09 | 207,477.09 | |||
| ShenzhenHospitalPhaseIIIHousingExpropriationPropertyRightsExchange | 1,291,815.00 | 237,438.00 | 1,529,253.00 | ||
| Grainandoilmarketmonitoringandearlywarningsubsidy | 3,500.00 | 3,500.00 | |||
| Specialfundsfortheconstructionandmaintenanceofthegrainemergencysystem | 40,000.00 | 40,000.00 | |||
| Total | 17,620,572.48 | 374,060.57 | 17,994,633.05 |
Otherexplanation:
49.Long-termwagepayable
(1)Long-termwagepayable
InRMB
| Item | Endingbalance | Openingbalance |
| Total | 0.00 | 0.00 |
(2)Changesofdefinedbenefitplans
Presentvalueofthedefinedbenefitplans:
InRMB
| Item | CurrentPeriod | LastPeriod |
Schemeassets:
InRMB
| Item | CurrentPeriod | LastPeriod |
Netliability(assets)ofthedefinedbenefitplans
InRMB
| Item | CurrentPeriod | LastPeriod |
Contentofdefinedbenefitplansandrelevantrisks,impactonfuturecashflowoftheCompanyaswellastimesanduncertainty:
Majoractuarialassumptionandsensitivityanalysis:
Otherexplanation:
50.Accrualliabilities
InRMB
| Item | Endingbalance | Openingbalance | Causes |
| Externalguarantee | 3,500,000.00 | ||
| Total | 3,500,000.00 |
Otherexplanation,includingrelevantimportantassumptionsandestimation:
51.Deferredincome
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | Causes |
| Governmentgrant | 87,077,137.27 | 8,914,774.39 | 13,172,038.42 | 82,819,873.24 | |
| Total | 87,077,137.27 | 8,914,774.39 | 13,172,038.42 | 82,819,873.24 | -- |
Otherexplanation:
Fordetailedinformationongovernmentgrantbookedintodeferredincome,pleaserefertoNoteXI.Governmentgrant
52.Othernon-currentliabilities
InRMB
| Item | Endingbalance | Openingbalance |
Otherexplanation:
53.Sharecapital
InRMB
| Openingbalance | Increased(decreased)inthisyear+,- | Endingbalance | |||||
| Newsharesissued | Bonusshares | Sharesconvertedfrompublicreserve | Other | Subtotal | |||
| Totalshares | 1,152,535,254.00 | 1,152,535,254.00 | |||||
Otherexplanation:
54.Otherequityinstrument
(1)Basicinformationoftheoutstandingpreferredstockandperpetualcapitalsecuritiesatperiod-end
(2)Changesofoutstandingpreferredstockandperpetualcapitalsecuritiesatperiod-end
InRMB
| Outstandingfinancialinstrument | Period-beginning | Currentincreased | Currentdecreased | Period-end | ||||
| Quantity | Bookvalue | Quantity | Bookvalue | Quantity | Bookvalue | Quantity | Bookvalue | |
| Total | 0.00 | 0.00 | ||||||
Explanationonchangesinotherequityinstrument,reasonsforchangesandrelevantaccountingtreatmentbasis:
Otherexplanation:
55.Capitalreserve
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| Capitalpremium(Sharecapitalpremium) | 1,250,743,274.79 | 1,117,457.77 | 1,251,860,732.56 | |
| Othercapitalreserve | 8,896,381.86 | 8,896,381.86 | ||
| Total | 1,259,639,656.65 | 1,117,457.77 | 1,260,757,114.42 |
Otherinstructions,includingchangesinthecurrentperiod,reasonsforchanges:
Thecapitalpremiumroseby1,117,457.77yuan,whicharoseformtheminorityshareholdersof贝格厨房。
56.Treasurystock
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| Total | 0.00 | 0.00 |
Otherexplanation,includingchangesandreasonforchanges:
57.Othercomprehensiveincome
InRMB
| Item | Openingbalance | CurrentPeriod | Endingbalance | |||||
| Accountbeforeincometaxintheperiod | Less:writteninothercomprehensiveincomeinpreviousperiodandcarriedforwardtogainsandlossesincurrentperiod | Less:writteninothercomprehensiveincomeinpreviousperiodandcarriedforwardtoretainedearningsincurrentperiod | Less:incometaxexpense | Attributabletoparentcompanyaftertax | Attributabletominorityshareholdersaftertax | |||
| Totalofothercomprehensiveincome | 0.00 | 0.00 | ||||||
Otherexplanation,includingtheactivepartofthehedginggains/lossesofcashflowtransfertoinitialreorganizationadjustmentforthearbitrageditems:
58.Reasonablereserve
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| Worksafetyfee | 220,301.70 | 1,981,520.98 | 1,459,854.49 | 741,968.19 |
| Total | 220,301.70 | 1,981,520.98 | 1,459,854.49 | 741,968.19 |
Otherexplanation,includingchangesincurrentperiodandreasonforchanges:
59.Surpluspublicreserve
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| Statutorysurplusreserves | 439,624,164.67 | 43,479,201.71 | 483,103,366.38 | |
| Total | 439,624,164.67 | 43,479,201.71 | 483,103,366.38 |
Otherexplanation,includingchangesincurrentperiodandreasonsforchanges:
60.Retainedprofit
InRMB
| Item | Currentperiod | Lastperiod |
| Retainedprofitattheendofthepreviousyearbeforeadjustment | 1,910,954,084.79 | 1,812,541,701.27 |
| Totaladjustmentamountofretainedprofitatthebeginningoftheyear(adjustmentincrease+/adjustmentdecrease-) | 148,597.59 | -21,202.17 |
| Retainedprofitatthebeginningoftheyearafteradjustment | 1,911,102,682.38 | 1,812,520,499.10 |
| Add:netprofitattributabletoshareholderofparentcompany | 347,824,733.68 | 420,764,671.03 |
| Less:withdrawaloflegalsurplusreserve | 43,479,201.71 | 34,048,674.25 |
| Commonstockdividendspayable | 288,133,813.50 | 288,133,813.50 |
| Retainedprofitatperiod-end | 1,927,314,400.85 | 1,911,102,682.38 |
Detailsaboutadjustingtheretainedprofitsatthebeginningoftheperiod:
1)DuetotheretroactiveadjustmentstoAccountingStandardsforBusinessEnterprisesanditsrelevantnewregulations,theretainedprofitatthebeginningoftheperiodwasaffectedby0.00yuan.
2)Duetochangesinaccountingpolicies,theretainedprofitatthebeginningoftheperiodwasaffectedby0.00yuan.
3)Duetomajoraccountingerrorcorrection,theretainedprofitatthebeginningoftheperiodwasaffectedby0.00yuan
4)Duetochangesinmergescopecausedbythesamecontrol,theretainedprofitsatthebeginningoftheperiodwasaffectedby
0.00yuan.
5)Duetootheradjustments,theretainedprofitsatthebeginningoftheperiodwasaffectedby0.00yuan.
61.Operatingincomeandoperatingcost
InRMB
| Item | Currentperiod | Lastperiod | ||
| Income | Cost | Income | Cost | |
| Mainbusiness | 6,189,691,606.18 | 5,228,738,901.98 | 8,310,797,045.00 | 7,169,707,326.38 |
| Otherbusiness | 313,750.64 | 106,899.36 | 1,926,013.19 | 3,151,108.47 |
| Total | 6,190,005,356.82 | 5,228,845,801.34 | 8,312,723,058.19 | 7,172,858,434.85 |
Istheloweroftheauditednetprofitbeforeandafterdeductionofnon-recurringgainsandlossesisnegative?
□Yes?NoInformationrelatingtorevenue:
InRMB
| Category | Branch1 | Branch2 | Total | |||||
| Operatingincome | Operatingcost | Operatingincome | Operatingcost | Operatingincome | Operatingcost | Operatingincome | Operatingcost | |
| Businesstypes | ||||||||
| Including: | ||||||||
Classificationbybusinessarea
| Classificationbybusinessarea |
| Including: |
Marketorcustomertype
| Marketorcustomertype |
| Including: |
Contracttypes
| Contracttypes |
| Including: |
Classificationbytimeofgoodstransfer
| Classificationbytimeofgoodstransfer |
| Including: |
Classificationbycontractduration
| Classificationbycontractduration |
| Including: |
Classificationbysaleschannel
| Classificationbysaleschannel |
| Including: |
Total
Informationrelatingtoperformanceobligations:
Total
Item
| Item | Timeforperformanceobligations | Importantpaymentterms | Natureofthegoodspromisedtotransferbythecompany | Isitthemainresponsibleperson? | Theexpectedrefundstocustomersbornebythecompany | Thetypesofqualityassuranceprovidedbythecompanyandrelatedobligations |
OtherexplanationsInformationrelatedtothetransactionpriceallocatedtotheremainingperformanceobligations:
Attheendofthisreportingperiod,thecontracthasbeensigned,butthecorrespondingrevenueamountforunfulfilledorunfulfilledperformanceobligationsis86,566,253.73yuan.Thewholeamount,86,566,253.73yuan,isexpectedtoberecognizedinwithin1year.Significantcontractchangesorsignificanttransactionpriceadjustments
InRMB
| Item | Accountingtreatmentmethod | Impactonincome |
Otherexplanation:
62.Taxandsurcharge
InRMB
| Item | Currentperiod | Lastperiod |
| Urbanmaintenanceandconstructiontax | 1,383,698.15 | 1,881,093.08 |
| Educationsurcharge | 1,051,442.01 | 983,830.68 |
| Propertytax | 11,861,483.21 | 9,907,629.09 |
| Usetaxofland | 1,957,226.62 | 2,237,912.97 |
| Vehicleandvesselusetax | 19,917.36 | 25,735.60 |
| Stampduty | 2,629,698.94 | 2,871,200.49 |
| Other | 6,972.53 | 29,074.09 |
| Total | 18,910,438.82 | 17,936,476.00 |
Otherexplanation:
63.Administrationexpenses
InRMB
| Item | Currentperiod | Lastperiod |
| Laborandsocialsecuritybenefits | 132,104,257.58 | 199,977,753.70 |
| Depreciationandamortizationoflong-termassets | 43,251,708.23 | 42,215,859.45 |
| Officeexpenses | 5,977,040.35 | 10,899,484.39 |
| Intermediaryagencyfee | 4,694,613.15 | 5,321,856.45 |
| Travellingexpense | 2,134,383.20 | 1,153,576.40 |
| Communicationexpense | 1,738,151.72 | 1,656,208.69 |
| Vehicleusagefee | 1,131,371.09 | 1,194,282.41 |
| Businesshospitality | 969,999.94 | 654,449.12 |
| Relocationandshutdowncosts | 760,742.03 | 535,740.91 |
| Rental | 456,480.17 | 88,776.37 |
| Repaircost | 454,215.27 | 310,474.85 |
| Low-valueconsumable | 25,476.09 | 74,796.32 |
| Other | 19,281,118.82 | 16,474,381.06 |
| Total | 212,979,557.64 | 280,557,640.12 |
Otherexplanation:
64.Salesexpense
InRMB
| Item | Currentperiod | Lastperiod |
| Laborandsocialsecuritybenefits | 114,823,759.85 | 105,464,733.79 |
| Depreciationandamortizationoflong-termassets | 11,669,044.05 | 13,019,789.92 |
| Officeexpenses | 10,373,217.31 | 10,615,703.94 |
| Salesservicefee | 6,944,356.95 | 8,920,055.76 |
| Storageandloading/unloadingfees | 5,186,133.78 | 8,426,439.83 |
| Portterminalfees | 3,787,085.61 | 4,914,370.42 |
| Travelexpenses | 3,007,934.57 | 1,371,204.88 |
| Businesshospitality | 1,505,531.70 | 1,364,065.19 |
| Rental | 1,175,659.26 | 1,113,437.27 |
| Advertisingexpenses | 1,100,020.83 | 1,158,015.36 |
| Propertyinsurancepremium | 939,751.88 | 770,044.57 |
| Lowvalueconsumablesandotherlossexpenses | 899,870.58 | 6,199,952.31 |
| Logisticsandtransportationcosts | 551,895.13 | 587,885.79 |
| Salescommission | 75,437.50 | 328,322.18 |
| Vehicleusefee | 260,081.34 | 268,962.67 |
| Other | 14,130,055.64 | 11,237,632.82 |
| Total | 176,429,835.98 | 175,760,616.70 |
Otherexplanation:
65.R&Dexpenses
InRMB
| Item | Currentperiod | Lastperiod |
| Laborandsocialsecuritybenefits | 12,149,800.39 | 12,682,987.40 |
| Depreciationcost | 3,174,111.67 | 2,581,188.36 |
| Materialconsumption | 2,895,753.44 | 97,815.85 |
| Travelexpense | 650,799.60 | 365,098.43 |
| Maintenanceandinspectionfee | 604,082.75 | 673,414.26 |
| Officeexpense | 278,409.10 | 92,438.24 |
| Intermediaryfees | 117,726.42 | 113,250.95 |
| Vehicleusageexpense | 90,554.88 | 26,429.50 |
| Other | 84,126.43 | 1,916,430.05 |
| Total | 20,045,364.68 | 18,549,053.04 |
Otherexplanation:
66.Financialexpense
InRMB
| Item | Currentperiod | Lastperiod |
| Interestexpenses | 39,968,255.33 | 52,421,870.87 |
| Including:interestexpensesofleaseliability | ||
| Less:Interestincome | -959,189.54 | -895,316.44 |
| Exchangegainsorloss | 286,319.71 | -971,444.48 |
| Handlingfeeandothers | 767,351.77 | 801,938.60 |
| Total | 40,062,737.27 | 51,357,048.55 |
Otherexplanation:
67.Otherincome
InRMB
| Sources | Currentperiod | Lastperiod |
| Governmentgrant | 14,663,529.88 | 8,775,672.58 |
| Inputtaxdeduction | 7,890,252.79 | 723,361.58 |
| Handlingfeesforwithholdingpersonalincometax | 398,387.36 | 296,808.43 |
| Directreductionofvalue-addedtax | 37,024.53 | |
| Other | 16,988.26 | 6,917.25 |
| Total | 22,969,158.29 | 9,839,784.37 |
68.Netexposurehedgegains
InRMB
| Item | Currentperiod | Lastperiod |
Otherexplanation:
69.Incomeoffairvaluechanges
InRMB
| Sources | Currentperiod | Lastperiod |
| Tradablefinancialassets | -105,784.51 | 307,033.09 |
| Tradablefinancialliabilities | 288,486.18 | -288,486.18 |
| Total | 182,701.67 | 18,546.91 |
Otherexplanation:
70.Investmentincome
InRMB
| Item | Currentperiod | Lastperiod |
| Long-termequityinvestmentincomemeasuredbyequity | 3,332,391.85 | -2,813,908.86 |
| Investmentincomefromdisposaloflong-termequityinvestment | -3,412,304.80 | |
| Other | 6,622,492.60 | 8,455,442.20 |
| Total | 9,954,884.45 | 2,229,228.54 |
Otherexplanation:
71.Creditimpairmentloss
InRMB
| Item | Currentperiod | Lastperiod |
| Lossofbaddebtofotheraccountreceivable | -3,599,093.34 | 215,868.78 |
| Lossofbaddebtofaccountreceivable | 426,721.19 | -1,572,712.37 |
| Total | -3,172,372.15 | -1,356,843.59 |
Otherexplanation:
72.Assetimpairmentloss
InRMB
| Item | Currentperiod | Lastperiod |
| I.Inventorydepreciationandcontractperformancecostimpairmentloss | -104,336,237.13 | -138,029,247.57 |
| IV.Impairmentlossesonfixedassets | -4,478,118.30 | |
| Total | -104,336,237.13 | -142,507,365.87 |
Otherexplanation:
73.Incomefromassetsdisposal
InRMB
| Sources | Currentperiod | Lastperiod |
| Gains/lossesfromdisposalofnon-currentassets | 2,394,378.42 | -25,417.69 |
74.Non-operationincome
InRMB
| Item | Currentperiod | Lastperiod | Amountincludedinthecurrentnon-recurringgains/losses |
| Governmentgrants | 1,100,000.00 | ||
| Liquidateddamagescompensationincome | 1,457,192.35 | 5,636,491.91 | 1,457,192.35 |
| Nopaymentrequired | 827,455.51 | 827,455.51 | |
| Gainsfromdamageandscrappingofnon-currentassets | 51,232.64 | 51,232.64 | |
| Gainsfrominventorysurplus | 6,062.93 | 27,924.91 | 6,062.93 |
| Other | 103,784.80 | 1,230,595.15 | 103,784.80 |
| Total | 2,445,728.23 | 7,995,011.97 | 2,445,728.23 |
Otherexplanation:
75.Non-operatingexpenditure
InRMB
| Item | Currentperiod | Lastperiod | Amountincludedincurrentnon-recurringgainsandlosses |
| Externaldonations | 4,777.87 | ||
| Penaltyexpenses(andliquidateddamages) | 1,289,772.38 | 39,883.09 | 1,289,772.38 |
| Lossofscrapfromnon-currentassets | 105,910.32 | 33,127.57 | 105,910.32 |
| Compensation | 2,000.00 | 503,125.60 | 2,000.00 |
| Inventoryloss | 40,474.63 | ||
| Other | 403,290.79 | 364,482.72 | 403,290.79 |
| Total | 1,800,973.49 | 985,871.48 | 1,800,973.49 |
Otherexplanation:
76.Incometaxexpense
(1)Incometaxexpense
InRMB
| Item | Currentperiod | Lastperiod |
| Currentincometaxexpenses | 87,781,940.01 | 52,809,277.10 |
| Deferredincometaxexpenses | -13,045,542.44 | -367,082.99 |
| Total | 74,736,397.57 | 52,442,194.11 |
(2)Adjustmentprocessofaccountingprofitandincometaxexpenses
InRMB
| Item | Currentperiod |
| Totalprofit | 421,368,889.38 |
| Incometaxexpensescalculatedbystatutory/applicabletaxrate | 105,342,222.34 |
| Impactfromdifferenttaxrateapplicablewithsubsidiaries | -516,428.85 |
| Effectofadjustingincometaxinthepreviousperiod | 9,778,145.59 |
| Impactofnontaxableincome | -97,910,019.74 |
| Impactofcost,expensesandlossesunabletobededucted | 48,722,879.00 |
| Impactoftheuseofapreviouslyunrecognizeddeferredincometaxassetondeductiblelosses | -12,257,555.65 |
| Impactofunrecognizeddeferredincometaxassetsincurrentperiodondeductibletemporarydifferencesordeductiblelosses | 25,099,493.66 |
| Gains/lossesofjointventuresandassociatedenterprisesmeasuredwithequitymethod | -118,287.49 |
| TaxinfluenceofadditionaldeductionofR&Dexpenditure(filledinwiththesignof“-”) | -676,831.08 |
| Other | -2,727,220.21 |
| Incometaxexpenses | 74,736,397.57 |
Otherexplanation:
77.Othercomprehensiveincome
78.Itemsofcashflowstatement
(1)Cashreceivedwithotheroperatingactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Intercoursefundsanddeposit | 262,331,327.58 | 384,721,628.52 |
| Governmentgrants | 13,485,589.19 | 2,723,273.17 |
| Interestincome | 959,189.53 | 895,316.44 |
| Other | 7,408,191.12 | 11,785,691.59 |
| Total | 284,184,297.42 | 400,125,909.72 |
Noteofcashpaidwithotheroperatingactivitiesconcerned:
Cashpaidwithotheroperatingactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Intercoursefundsanddeposit | 160,303,524.38 | 421,829,887.01 |
| Operatingdailyexpenses | 133,073,062.03 | 97,426,875.34 |
| Other | 3,693,027.65 | 795,248.00 |
| Total | 297,069,614.06 | 520,052,010.35 |
Noteofcashpaidwithotheroperatingactivitiesconcerned:
(2)Cashwithotherinvestmentactivitiesconcerned
Cashreceivedwithotherinvestmentactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Externallendingrecovered | 726,511.34 | |
| Total | 726,511.34 | 0.00 |
Significantcashreceivedwithotherinvestmentactivitiesconcerned:
InRMB
| Item | Currentperiod | Lastperiod |
| Financialproducts | 1,558,000,000.00 | 1,191,460,000.00 |
| Largedepositcertificate | 90,000,000.00 | |
| Total | 1,558,000,000.00 | 1,281,460,000.00 |
Explanationoncashreceivedwithotherinvestmentactivitiesconcerned：
Cashpaidwithotherinvestmentactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Lossofcontrolofsubsidiaries | 404.68 | |
| Total | 0.00 | 404.68 |
Significantcashpaidwithinvestmentactivities
InRMB
| Item | Currentperiod | Lastperiod |
| Financialproducts | 1,500,000,000.00 | 1,026,460,000.00 |
| Largedepositcertificate | 43,000,000.00 | 80,000,000.00 |
| Total | 1,543,000,000.00 | 1,106,460,000.00 |
Cashpaidwithotheroperatingactivitiesconcerned
(3)Cashwithfinancingactivitiesconcerned
Cashreceivedwithfinancingactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
Noteofcashreceivedwithotherfinancingactivitiesconcerned:
Cashpaidwithotherfinancingactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Operatingleasepaid | 20,079,954.38 | 24,121,307.93 |
| Paymentofminorityshareholderequity | 11,106,589.90 | |
| Purchaseofminorityshareholderequity | 3,344,850.00 | |
| Other | 363,846.74 | |
| Total | 34,531,394.28 | 24,485,154.67 |
Explanationoncashpaidwithotherfinancingactivitiesconcerned:
Changesinliabilitiesarisingfromfinancingactivities?Applicable□Notapplicable
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | ||
| Cashchange | Non-cashchange | Cashchange | Non-cashchange | |||
| Short-termborrowandheld-for-saleliabilities | 1,192,211,087.37 | 1,930,787,809.13 | 1,875,334,898.93 | 824,533.97 | 1,246,839,463.60 | |
| Leaseliabilities | 82,207,570.11 | 20,079,954.38 | 1,577,190.23 | 60,550,425.50 | ||
| Total | 1,274,418,657.48 | 1,930,787,809.13 | 1,895,414,853.31 | 2,401,724.20 | 1,307,389,889.10 | |
(4)Cashflowlistedatnetamount
| Item | Relevantfacts | Basisforbeinglistedatnetamount | Financialimpact |
(5)Significantactivitiesandfinancialimpactsthatdonotinvolvecurrentcashinflowandoutflowbutaffectthefinancialconditionoftheenterpriseormayaffectthecashflowoftheenterpriseinthefuture
79.Supplementaryinformationofcashflowstatement
(1)Supplementaryinformationofcashflowstatement
InRMB
| Supplementaryinformation | 本期金额 | 上期金额 |
| 1.Netprofitadjustedtocashflowofoperationactivities: | ||
| Netprofit | 346,632,491.81 | 418,468,667.98 |
| Add:Impairmentprovisionforassets | 107,508,609.28 | 143,864,209.46 |
| Depreciationoffixedassets,consumptionofoilassetsanddepreciationofproductivebiologyassets | 111,231,937.94 | 109,120,940.75 |
| Depreciationofright-of-useassets | 22,328,053.93 | 21,759,266.15 |
| Amortizationofintangibleassets | 34,397,837.54 | 29,934,283.78 |
| Amortizationoflong-termpendingexpenses | 8,660,628.62 | 10,186,577.64 |
| Lossfromdisposaloffixedassets,intangibleassetsandotherlong-termassets(incomeislistedwith“-”) | -2,394,378.42 | 25,417.69 |
| Lossesonscrappingoffixedassets(incomeislistedwith“-“) | 54,677.68 | 33,127.57 |
| Lossfromchangeoffairvalue(incomeislistedwith“-“) | -182,701.67 | -18,546.91 |
| Financialexpenses(incomeislistedwith“-”) | 39,973,327.68 | 51,450,426.39 |
| Investmentloss(incomeislistedwith“-”) | -9,954,884.45 | -2,229,228.54 |
| Decreaseofdeferredincometaxassets(increaseislistedwith“-”) | -15,049,702.87 | 288,959.12 |
| Increaseofdeferredincometaxasset((increaseislistedwith“-”) | 2,034,884.00 | -656,042.11 |
| Decreaseofinventory(increase | 27,253,849.60 | -276,452,543.28 |
| islistedwith“-”) | ||
| Decreaseofoperatingreceivableaccounts(increaseislistedwith“-”) | 92,202,173.53 | 136,294,792.53 |
| Increaseofoperatingpayableaccounts(decreaseislistedwith“-”) | -178,880,148.01 | -110,181,541.58 |
| Other | ||
| Netcashflowarisingfromoperatingactivities | 585,816,656.19 | 531,888,766.64 |
| 2.Materialinvestmentandfinancingnotinvolvedincashflow | ||
| Conversionofdebtintocapital | ||
| Convertiblecompanybondsduewithinoneyear | ||
| Financingleaseoffixedassets | 7,645,189.94 | |
| 3.Netchangeofcashandcashequivalents: | ||
| Endingbalanceofcash | 230,919,769.29 | 53,095,469.26 |
| Less:beginningbalanceofcash | 53,095,469.26 | 49,370,080.20 |
| Add:endingbalanceofcashequivalents | 1,469,717.13 | |
| Less:beginningbalanceofcashequivalents | ||
| Netincreasingofcashandcashequivalents | 179,294,017.16 | 3,725,389.06 |
(2)NetcashpaidforobtainingsubsidiaryinthePeriod
InRMB
| Amount | |
| Including: | |
| Including | |
| Including: |
Otherexplanation:
(3)NetcashreceivedbydisposingsubsidiaryinthePeriod
InRMB
| 金额 | |
| Including: | |
| Including | |
| Including: |
Otherexplanation:
(4)Componentofcashandcashequivalent
InRMB
| Item | Endingbalance | Openingbalance |
| I.Cash | 230,919,769.29 | 53,095,469.26 |
| Including:Cashonhand | 10,106.10 | 69,686.00 |
| Bankdepositavailableforpaymentatanytime | 230,835,667.22 | 52,829,469.15 |
| Othermonetaryfundavailableforpaymentatanytime | 73,995.97 | 196,314.11 |
| II.Cashequivalent | 1,469,717.13 | |
| Held-for-saleassets-monetaryfunds | 1,469,717.13 |
| III.Endingbalanceofcashandcashequivalent | 232,389,486.42 | 53,095,469.26 |
(5)Itemswithrestrictedapplicationscopestillbelongtocashandcashequivalents
InRMB
| Item | Currentamount | Lastamount | Reasonforstillbelongingtocashandcashequivalents |
(6)Monetaryfundsnotbelongingtocashandcashequivalent
InRMB
| Item | Currentamount | Lastamount | Reasonfornotbelongingtocashandcashequivalents |
| Bankdeposit | 2,973,129.00 | Lawsuitfreezing | |
| Othermonetaryfunds | 2,491,708.31 | 1,008,301.74 | Guaranteedeposit,creditdeposit,etc |
| Total | 5,464,837.31 | 1,008,301.74 |
Otherexplanation:
(7)Explanationonothersignificantactivities
80.Notesofchangesofowners’equity
Explainthenameandadjustedamountin“Other”itemsthathavebeenadjustedtotheendingbalanceofthepreviousyear
82.Foreigncurrencymonetaryitems
(1)Foreigncurrencymonetaryitems
InRMB
| Item | Endingforeigncurrencybalance | Convertrate | EndingRMBbalanceconverted |
| Monetaryfund | 791,611.15 | ||
| Including:USD | 146,180.59 | 7.0827 | 617,258.15 |
| EURO | |||
| HKD | 192,395.89 | 0.90622 | 174,353.00 |
Accountreceivable
| Accountreceivable | 2,302,399.32 | ||
| Including:USD | 286,493.94 | 7.0827 | 2,029,150.63 |
| EURO | |||
| HKD | 301,525.78 | 0.9062 | 273,248.69 |
Held-for-saleassets-monetaryfunds
| Held-for-saleassets-monetaryfunds | 1,069,467.05 | ||
| Including:USD | 144,988.42 | 7.0827 | 1,026,909.48 |
| EURO | 5,415.00 | 7.8592 | 42,557.57 |
| HKD |
Held-for-saleassets-accountreceivable
| Held-for-saleassets-accountreceivable | 1,742,835.46 | ||
| Including:USD | 246,069.36 | 7.0827 | 1,742,835.46 |
Otherexplanation:
(2)Explanationonforeignoperationalentity,includingasforthemajorforeignoperationalentity,disclosedmainoperationplace,book-keepingcurrencyandbasisforselection;ifthebook-keepingcurrencyischanged,explainreasons
□Applicable?Notapplicable
82.Lease
(1)Thecompanyasleaser
?Applicable□NotapplicableVariableleasepaymentsnotincludedinthemeasurementofleaseliabilities
□Applicable?NotapplicableSimplifiedhandlingofshort-termleasingorleasingcostsforlowvalueassets
□Applicable?NotapplicableSituationsinvolvingafter-salesleasebacktransactions
(2)Thecompanyasleasee
Operatingleasewiththecompanyasleasee?Applicable□Notapplicable
InRMB
| Item | Leaseincome | Including:incomerelatedtovariableleasepaymentsnotincludedinleasepayments |
| Renthousing,equipment,etc. | 89,413,344.39 | |
| Total | 89,413,344.39 |
Financingleasewiththecompanyaslessor
□Applicable?NotapplicableAnnualundiscountedleasepaymentsforthenextfiveyears
□Applicable?NotapplicableAdjustmenttableforundiscountedleasereceiptsandnetleaseinvestments
(3)Recognizegains/lossesfromfinancingleaseasproducerordealer
□Applicable?Notapplicable
83.Others
VIII.R&Dexpenditure
InRMB
| Item | Currentperiod | Lastperiod |
| Laborandsocialsecuritybenefits | 12,836,117.77 | 13,911,452.60 |
| Depreciationandamortizationexpenses | 3,892,146.29 | 3,372,100.40 |
| Materialconsumption | 6,302,600.55 | 1,562,447.84 |
| Maintenanceandtestingfees | 760,541.10 | 796,870.45 |
| Travelexpenses | 654,453.06 | 446,155.78 |
| Officeexpenses | 280,844.00 | 95,913.15 |
| Intermediaryfees | 117,726.42 | 113,250.95 |
| Carexpenses | 90,554.88 | 26,429.50 |
| Other | 109,783.47 | 1,938,952.59 |
| Total | 25,044,767.54 | 22,263,573.26 |
| Amongthem:ExpensedR&Dexpenditure | 20,045,364.68 | 18,549,053.04 |
| CapitalizedR&Dexpenses | 4,999,402.86 | 3,714,520.22 |
1.R&Ditemsthatmeetcapitalizationconditions
InRMB
| Item | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance | ||||
| Internaldevelopmentexpenditure | Other | Recognizedasintangibleassets | Carriedforwardtocurrentgains/losses | |||||
| R&Dcapitalitems | 25,044,767.54 | 4,999,402.86 | 20,045,364.68 | |||||
| Total | 25,044,767.54 | 4,999,402.86 | 20,045,364.68 | |||||
MajorcapitalizedR&Ditems
| Items | R&Dprogress | Estimatedcompletiontime | Expectedwayofgeneratingeconomicbenefits | Startingpointofcapitalization | Specificbasisforstartingcapitalization |
ImpairmentreserveforR&Dexpenditure
InRMB
| Item | Beginningbalance | Currentincrease | Currentdecrease | Endingbalance | Impairmenttest |
2.Importantoutsourcedprojectsunderresearch
| Item | Expectedwayofgeneratingeconomicbenefits | Thecriteriaandspecificbasisfordeterminingcapitalizationorexpensing |
Otherexplanation:
IX.Changesinconsolidationrange
1.Enterprisemergernotunderthesamecontrol
(1)Enterprisemergernotunderthesamecontrol
InRMB
| Acquiree | Timepointforequityobtained | Costofequityobtained | Ratioofequityobtained | AcquiredwayEquityobtainedway | Purchasingdate | Standardtodeterminethepurchasingdate | Incomeofacquireefrompurchasingdatetoperiod-end | Netprofitofacquireefrompurchasingdatetoperiod-end |
Otherexplanation:
(2)Combinationcostandgoodwill
InRMB
| Consolidationcost |
| --Cash |
| --Fairvalueofnon-cashassets |
| --Fairvalueofdebtsissuedorassumed |
| --Fairvalueofequitysecuritiesissued |
| --Fairvalueofcontingentconsideration |
| --Fairvalueoftheequitypriortothepurchasingdate |
| --Other |
| Totalcombinationcost |
| Less:sharesoffairvalueofidentifiablenetassetsacquired |
| Portionofgoodwill/mergercostlessthanthesharesoffairvalueofidentifiablenetassetsacquired |
Explanationofthemethodfordeterminingthefairvalueofmergercosts,contingentconsiderations,andtheirchanges:
MainreasonsfortheformationoflargegoodwillOtherexplanation:
(3)Identifiableassetsandliabilitiesonpurchasingdateundertheacquiree
InRMB
| Fairvalueonpurchasingdate | Bookvalueonpurchasingdate | |
| Assets: | ||
| Monetaryfunds | ||
| Accountreceivable | ||
| Inventory | ||
| Fixedassets | ||
| Intangibleassets |
Liability:
| Liability: |
| Loan |
| Accountpayable |
| Deferredtaxliabilities |
Netassets
| Netassets |
| Less:Minorityinterests |
Determinationmethodforfairvalueoftheidentifiableassetsandliabilities:
Contingentliabilitiesassumedbytheacquireeinabusinessmerger:
Otherexplanation:
(4)Gainsorlossesarisingfromre-measuredbyfairvaluefortheequityheldbeforepurchasingdateIsthereanytransactionthatachievesbusinessmergerthroughmultipletransactionsandobtainscontrolduringthereportingperiod?
□Yes?No
(5)Onpurchasingdateorperiod-endofthecombination,combinationconsiderationorfairvalueofidentifiableassetsandliabilityfortheacquireeareunabletoconfirmrationally
(6)Otherexplanation
2.Businesscombinationunderthesamecontrol
(1)BusinesscombinationunderthesamecontrolinthePeriod
InRMB
Netassetsacquired
Acquiree
| Acquiree | Equityratioobtainedincombination | Basisofcombinedunderthesamecontrol | Combinationdate | Standardtodeterminethecombinationdate | Incomeofthecombinedpartyfromperiod-beginofcombinationtothecombinationdate | Netprofitofthecombinedpartyfromperiod-beginofcombinationtothecombinationdate | Incomeofthecombinedpartyduringthecomparisonperiod | Netprofitofthecombinedpartyduringthecomparisonperiod |
Otherexplanation:
(2)Combinationcost
InRMB
| Consolidationcost |
| --Cash |
| --Bookvalueofnon-cashassets |
| --Bookvalueofdebtsissuedorassumed |
| --Facevalueofequitysecuritiesissued |
| --Contingentconsideration |
Explanationoncontingentconsiderationanditschanges:
Otherexplanation:
(3)Bookvalueoftheassetsandliabilitiesofthecombinedpartyoncombinationdate
InRMB
| Consolidationdate | Endingbalanceoflastperiod | |
| Assets: | ||
| Monetaryfunds |
| Accountreceivable |
| Inventory |
| Fixedassets |
| Intangibleassets |
Liability:
| Liability: |
| Loan |
| Accountpayable |
Netassets
| Netassets |
| Less:Minorityinterests |
| Netassetsacquired |
ContingentliabilityofthecombinedpartyassumedbytheCompanyduringcombination:
Otherexplanation:
3.Reversepurchase
Basictransactioninformation,basisofcounterpurchase,whethermakingupbusinessduetotheassetsandliabilityreservedbylistedcompanyandbasis,determinationofcombinationcost,amountandcalculationonadjustedequitybyequitytransaction:
4.DisposalofsubsidiaryIsthereanysituationwhereasingledisposalofinvestmentinasubsidiaryresultsinlossofcontrol?
□Yes?NoIsthereanysituationwhereinvestmentsinsubsidiariesaredisposedbystepsthroughmultipletransactionsandcontrolislostinthecurrentperiod?
□Yes?No
5.Otherreasonsforchangesinconsolidationrange
Consolidationscopechangescausedbyotherreasons(eg,establishnewsubsidiaries,liquidatesubsidiaries,etc.)andtherelatedcircumstances:
6.Other
X.Equityinotherentities
1.Equityinsubsidiaries
(1)Membershipofenterprisegroup
| Subsidiary | Registeredcapital | Mainplaceofoperation | Registrationplace | Businessnature | shareholdingratioratio | Acquisitionway | |
| Directly | Indirectly | ||||||
| SZCG | 1,530,000,000.00 | ShenzhenCity | ShenzhenCity | Grain&oiltrading | 100.00% | Combineunderthesamecontrol | |
| HualianGrain&Oil | 100,000,000.00 | ShenzhenCity | ShenzhenCity | Grain&oiltrading | 100.00% | Combineunderthesamecontrol | |
| ShenzhenFlour | 30,000,000.00 | ShenzhenCity | ShenzhenCity | Flourprocessing | 100.00% | Combineunderthesamecontrol | |
| ShenliangQualityInspection | 8,000,000.00 | ShenzhenCity | ShenzhenCity | Inspection | 100.00% | Combineunderthesamecontrol | |
| HainanGrainandOil | 10,000,000.00 | HaikouCity | HaikouCity | Feedproduction | 100.00% | Combineunderthesamecontrol | |
| Doximi | 10,000,000.00 | ShenzhenCity | ShenzhenCity | E-commerce | 100.00% | Combineunderthesamecontrol | |
| BigKitchen | 10,000,000.00 | ShenzhenCity | ShenzhenCity | Salesandprocessingofgrain,oilandrelevantproducts | 70.00% | Combineunderthesamecontrol | |
| YingkouStorage | 1,000,000.00 | YingkouCity | YingkouCity | Storage | 100.00% | Combineunderthesamecontrol | |
| ColdChainLogistic | 10,000,000.00 | ShenzhenCity | ShenzhenCity | On-lineoperationoffreshfood | 100.00% | Combineunderthesamecontrol | |
| ShenliangProperty | 9,500,000.00 | ShenzhenCity | ShenzhenCity | Propertydevelopmentandmanagement | 100.00% | 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 | 51.00% | Combineunderthesamecontrol | |
| ShenliangHongjun | 30,000,000.00 | ShenzhenCity | ShenzhenCity | Catering | 51.00% | Establishment | |
| DongguanHualian | 10,000,000.00 | DongguanCity | DongguanCity | Grainandoiltrade | 100.00% | Establishment | |
| ShenliangPropertyManagement | 5,000,000.00 | ShenzhenCity | ShenzhenCity | Propertymanagement | 100.00% | Establishment | |
| ShenbaoHuacheng | 207,451,300.00 | ShenzhenCity | ShenzhenCity | Manufacturing | 100.00% | Establishment | |
| WuyuanJuFangYong | 290,000,000.00 | ShangraoCity | ShangraoCity | Manufacturing | 100.00% | Establishment | |
| HuizhouShenbao | 60,000,000.00 | HuizhouCity | HuizhouCity | Comprehensive | 100.00% | Establishment | |
| ShenbaoInvestment | 50,000,000.00 | ShenzhenCity | ShenzhenCity | Investmentmanagement | 100.00% | Establishment | |
| ShenbaoTeaCulture | 15,000,000.00 | ShenzhenCity | ShenzhenCity | Commercialtrade | 100.00% | Establishment | |
| ShenliangHongli | 50,000,000.00 | ShenzhenCity | ShenzhenCity | Gainandoilwholesale | 100.00% | Establishment | |
| JuFangYongHolding | 175,000,000.00 | HangzhouCity | HangzhouCity | Comprehensive | 100.00% | Establishment | |
| FuhaitangCatering | 1,000,000.00 | HangzhouCity | HangzhouCity | Cateringindustry | 100.00% | Establishment | |
| FuhaitangEcologyTechnology | 2,000,000.00 | HangzhouCity | HangzhouCity | Teaplanting,productionandsales | 100.00% | Businesscombinationnotunderthe |
| samecontrol | |||||||
| 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 | |
| Pu’erTeaTradingCenter | 50,000,000.00 | Pu’erCity | Pu’erCity | Serviceindustry | 55.00% | Establishment | |
| ShenliangFood | 30,150,000.00 | HuizhouCity | ShenzhenCity | Manufacturing | 100.00% | Establishment | |
| HuizhouShenliangFood | 5,000,000.00 | HuizhouCity | HuizhouCity | Wholesalebusiness | 100.00% | Establishment | |
| ZhenpinMarket | 10,000,000.00 | ShenzhenCity | ShenzhenCity | Platformconstruction,promotion,andoperation | 51.00% | Establishment | |
| ShenbaoIndustry&Trade | 5,500,000.00 | HuizhouCity | ShenzhenCity | Wholesalebusiness | 100.00% | Establishment | |
| WuhanJiacheng | 11,380,000.00 | WuhanCity | WuhanCity | Foodproduction | 51.00% | Combinenotunderthesamecontrol | |
| HubeiJiacheng | 30,000,000.00 | WuhanCity | WuhanCity | Foodproduction | 51.00% | Combinenotunderthesamecontrol | |
| WuhanHongqu | 8,000,000.00 | WuhanCity | WuhanCity | Foodproduction | 51.00% | Combinenotunderthesamecontrol | |
| MachengJingtian | 19,000,000.00 | MachengCity | MachengCity | Foodproduction | 51.00% | Combinenotunderthesamecontrol |
Explanationonshareholdingratioratioinsubsidiarydifferentfromratioofvotingright:
Explanationonbasisforcontrollingtheinvestedentitywithhalforbelowvotingrightsheldandwithoutcontrollinginvestedentitybutwithoverhalfandovervotingrights:
Explanationonthebasisforcontroltheimportantstructuredentitiesincludedintheconsolidationscope:
Basisfordeterminingwhetherthecompanyisanagentorconsignor:
Otherexplanation:
(2)Importantnon-wholly-ownedsubsidiary
InRMB
| Subsidiary | shareholdingratioratioofminorityshareholders | Gains/lossesattributabletominorityinthePeriod | DividendannouncedtodistributeforminorityinthePeriod | Endingequityofminority |
| Shuangyashan | 49.00% | 1,372,344.93 | 29,106,475.08 |
Explanationonthesituationwheretheshareholdingratioofminorityshareholdersisdifferentfromthevotingrightratioofminorityshareholders:
Otherexplanation:
(3)Mainfinancialinformationoftheimportantnon-wholly-ownedsubsidiary
InRMB
| Subsidiary | Endingbalance | Openingbalance | ||||||||||
| Currentassets | Noncurrentassets | Totalassets | Currentliabilities | Noncurrentliabilities | Totalliabilities | Currentassets | Noncurrentassets | Totalassets | Currentliabilities | Noncurrentliabilities | Totalliabilities | |
| Shuangyshan | 85,781,145. | 152,130,471.73 | 237,911,617. | 178,510,647.6 | 178,510,647. | 8,972,258.9 | 154,712,400.25 | 163,684,659. | 107,084,393.5 | 107,084,393. | ||
| 45 | 18 | 2 | 62 | 1 | 16 | 3 | 53 |
InRMB
| Subsidiary | CurrentPeriod | LastPeriod | ||||||
| Operatingrevenue | Netprofit | Totalcomprehensiveincome | Cashflowfromoperationactivity | Operatingrevenue | Netprofit | Totalcomprehensiveincome | Cashflowfromoperationactivity | |
| Shuangyashan | 226,240,193.61 | 2,800,703.93 | 2,800,703.93 | 6,384,930.18 | 288,856,484.33 | 76,415.27 | 76,415.27 | 10,319,058.63 |
Otherexplanation:
(4)Significantrestrictionsontheuseofenterprisegroupassetsandtherepaymentofdebtsoftheenterprisegroup
(5)FinancialorothersupportofferedtothestructuredentitiesincludedinconsolidatedfinancialstatementsOtherexplanation:
2.Transactionswheretheshareofowner’sequityinasubsidiarychangeswhilethesubsidiaryisstillcontrolled
(1)Explanationonchangesinowner’sequitysharesinsubsidiary
(2)Impactofsuchtransactiononequityofminorityinterestsandowners’equityattributabletoparentcompany
InRMB
| Purchasecost/disposalconsideration | 3,344,850.00 |
| --Cash | 3,344,850.00 |
| --Fairvalueofnon-cashassets |
Purchasecost/totaldisposalconsideration
| Purchasecost/totaldisposalconsideration | 3,344,850.00 |
| Less:Subsidiary’sshareofnetassetscalculatedbasedontheproportionofacquired/disposedequity | 2,227,392.23 |
| Difference | 1,117,457.77 |
| Including:Adjustcapitalreserve | 1,117,457.77 |
| Adjustsurplusreserve | |
| Adjustundistributedprofit |
Otherexplanation
3.Equityinjointventureandassociatedenterprise
(1)Importantjointventureorassociatedenterprise
| Jointventure/Associatedenterprise | Mainplaceofoperation | Registrationplace | Businessnature | Shareholdingratio | Accountingtreatmentoninvestmentinjointventureandassociatedenterprise | |
| Directly | Indirectly | |||||
| ZhuhaiHengxingFeedIndustrialCo., | Zhuhai | Zhuhai | Aquaticfeeandanimalfee | 40.00% | Equitymethod | |
| Ltd. | ||||||
| ShenliangIntelligentWulianEquityInvestmentFund(Shenzhen)PartnershipEnterprise(Limited) | Shenzhen | Shenzhen | Equityinvestment;investmentconsultant | 49.02% | Equitymethod |
Descriptiononsituationwheretheshareholdingratioinjointventuresorassociatedenterprisesisdifferentfromtheratioofvotingrights:
Descriptiononthebasisforholdinglessthan20%ofvotingrightsbuthavingsignificantinfluence,orholding20%ormoreofvotingrightsbuthavingnosignificantinfluence.
(2)Mainfinancialinformationofimportantjointventure
InRMB
| Endingbalance/Currentperiod | Openingbalance/Lastperiod |
Currentassets
| Currentassets |
| Including:cashandcashequivalent |
| Non-currentassets |
| Totalassets |
| Currentliabilities |
| Non-currentliabilities |
| Totalliabilities |
| Minorityinterests |
| Shareholders’equityattributabletoparentcompany |
| Shareofnetassetscalculatedbyshareholdingratio |
| Adjustmentitems |
| --Goodwill |
| --Unrealizedprofitofinternaltrading |
| --Other |
| Bookvalueofequityinvestmentinjointventure |
| Fairvalueoftheequityinvestmentinjointventureswithpublicoffersconcerned |
| Operatingincome |
| Financialexpenses |
| Incometaxexpenses |
| Netprofit |
| Netprofitofdiscontinuingoperation |
| Othercomprehensiveincome |
TotalcomprehensiveincomeDividendsreceivedfromjointventureintheyear
Otherexplanation
(3)Mainfinancialinformationofimportantassociatedenterprises
InRMB
DividendsreceivedfromjointventureintheyearEndingbalance/Currentperiod
| Endingbalance/Currentperiod | Openingbalance/Lastperiod | |||
| ZhuhaiHengxingFeedIndustrialCo.,Ltd. | ShenliangIntelligentWulianEquityInvestmentFund(Shenzhen)PartnershipEnterprise(Limited) | ZhuhaiHengxingFeedIndustrialCo.,Ltd. | ShenliangIntelligentWulianEquityInvestmentFund(Shenzhen)PartnershipEnterprise(Limited) | |
| Currentassets | 206,533,219.54 | 20,506,045.15 | 155,902,973.82 | 20,190,370.67 |
| Non-currentassets | 22,214,230.53 | 34,910,923.94 | 23,155,027.49 | 34,301,885.64 |
| Totalassets | 228,747,450.07 | 55,416,969.09 | 179,058,001.31 | 54,492,256.31 |
| Currentliabilities | 115,358,256.12 | 170,000.00 | 103,635,109.17 | |
| Non-currentliabilities | 29,663,266.41 | 353,858.37 | ||
| Totalliabilities | 145,021,522.53 | 170,000.00 | 103,988,967.54 | |
| Netasset | 83,725,927.54 | 55,246,969.09 | 75,069,033.77 | 54,492,256.31 |
| Minorityinterests | ||||
| Equityattributabletoshareholderofparentcompany | 83,725,927.54 | 55,246,969.09 | 75,069,033.77 | 54,492,256.31 |
| Shareofnetassetsmeasuredbyshareholding | 33,490,371.02 | 27,082,064.25 | 30,027,613.51 | 26,712,104.04 |
| Adjustment | 162,764.46 | -174.47 | 187,132.78 | 171,024.78 |
| --Goodwill | ||||
| --Unrealizedprofitofinternaltrading | ||||
| --Other | 162,764.46 | -174.47 | 187,132.78 | 171,024.78 |
| Bookvalueofequityinvestmentinassociatedenterprise | 33,653,135.48 | 27,081,889.78 | 30,214,746.29 | 26,883,128.82 |
| Fairvalueoftheequityinvestmentofassociatedenterprisewithpublicoffersconcerned | ||||
| Operatingincome | 501,688,075.92 | 648,380,399.95 | ||
| Netprofit | 8,657,035.43 | 754,712.78 | -3,114,520.96 | -2,070,080.67 |
| Netprofitofdiscontinuingoperation | ||||
| Othercomprehensiveincome | ||||
| Totalcomprehensiveincome | 8,657,035.43 | 754,712.78 | -3,114,520.96 | -2,070,080.67 |
Dividendsreceivedfromassociatedenterpriseintheyear
Otherexplanation
(4)Summaryoffinancialinformationofunimportantjointventureandassociatedenterprises
InRMB
| Endingbalance/CurrentPeriod | Openingbalance/LastPeriod | |
| Jointventure: | ||
| Amountbasedonshareholdingratioratio | ||
| Associatedenterprise: | ||
| Totalbookvalueofinvestment | 13,273,901.22 | 13,578,659.52 |
| Totalamountcalculatedintermsofshareholdingratioratio | ||
| --Netprofit | -304,756.85 | -371,088.05 |
| --Totalcomprehensiveincome | -304,756.85 | -371,088.05 |
Otherexplanation
(5)MajorlimitationoncapitaltransferabilitytotheCompanyfromjointventureorassociatedenterprise
(6)Excesslossoccurredinjointventureorassociatedenterprise
InRMB
| Jointventure/Associatedenterprise | Cumulativederecognizedlosses | DerecognizedlossesnotrecognizedinthePeriod(ornetprofitenjoyedinthePeriod) | Cumulativederecognizedlossesatperiod-end |
| ChangzhouShenbaoChacangE-businessCo.,ltd. | 9,671,616.17 | 928,420.33 | 10,600,036.50 |
Otherexplanation
(7)Unconfirmedcommitmentrelatedtojointventureinvestment
(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
| Accountingtitle | Openingbalance | Currentincreaseingovernmentgrant | Amountbookedintonon-businessincomeincurrentperiod | Amountcarriedforwardtootherincome | Otherchangesincurrentperiod | Endingbalance | Asset/incomerelated |
| Deferredincome | 87,077,137.27 | 8,914,774.39 | 10,092,715.08 | 3,079,323.34 | 82,819,873.24 | Assetrelated |
3.Governmentgrantbookedintocurrentgains/losses
?Applicable□Notapplicable
InRMB
| Accountingtitle | Currentperiod | Lastperiod |
| Otherrevenue | 8,775,672.58 | 14,663,529.88 |
Otherexplanation:
XII.Riskrelatedwithfinancialinstrument
1.VariousrisksarisingfromfinancialinstrumentsThecompany’smainfinancialinstrumentsincludemonetaryfunds,notesreceivable,accountsreceivable,otherreceivables,othercurrentassets,tradingfinancialassets,othernoncurrentfinancialassets,accountspayable,otherpayables,short-termborrowings,noncurrentliabilitiesduewithinoneyear,andleaseliabilities.Thedetailedinformationofvariousfinancialinstrumentshasbeendisclosedintherelevantnotes.Therisksassociatedwiththesefinancialinstruments,aswellastheriskmanagementpoliciesadoptedbythecompanytoreducetheserisks,aredescribedbelow.Themanagementofthecompanymanagesandmonitorstheseriskexposurestoensurethattheaforementionedrisksarecontrolledwithinalimitedrange.
(1)RiskmanagementobjectivesandpoliciesThemainriskscausedbythecompany’sfinancialinstrumentsarecreditrisk,liquidityrisk,andmarketrisk(includingexchangeraterisk,interestraterisk,andcommoditypricerisk).Thegoalofourcompany’sriskmanagementistostrikeanappropriatebalancebetweenriskandreturn,strivingtoreducetheadverseimpactoffinancialrisksonourfinancialperformance.Basedonthisriskmanagementobjective,thecompanyhasdevelopedariskmanagementpolicytoidentifyandanalyzetherisksweface,setappropriateacceptablelevelsofrisks,anddesigncorrespondinginternalcontrolprocedurestomonitorourrisklevel.Thecompanywillregularlyreviewtheseriskmanagementpoliciesandrelatedinternalcontrolsystemstoadapttomarketconditionsorchangesinourbusinessactivities.Theinternalaudit
departmentofourcompanyalsoregularlyorrandomlycheckswhethertheimplementationoftheinternalcontrolsystemcomplieswithriskmanagementpolicies.Theboardofdirectorsisresponsibleforplanningandestablishingthecompany’sriskmanagementstructure,formulatingthecompany’sriskmanagementpoliciesandrelatedguidelines,andsupervisingtheimplementationofriskmanagementmeasures.Thecompanyhasdevelopedriskmanagementpoliciestoidentifyandanalyzetherisksweface.Theseriskmanagementpoliciesclearlydefinespecificrisksandcovervariousaspectssuchasmarketrisk,creditrisk,andliquidityriskmanagement.Thecompanyregularlyevaluateschangesinthemarketenvironmentandourbusinessactivitiestodeterminewhethertoupdateourriskmanagementpoliciesandsystems.Theriskmanagementofourcompanyiscarriedoutbyrelevantdepartmentsinaccordancewiththepoliciesapprovedbytheboardofdirectors.Thesedepartmentsidentify,evaluate,andmitigaterelatedrisksthroughclosecooperationwithotherbusinessdepartmentsofourcompany.Ourcompanydiversifiesinvestmentandbusinessportfolioappropriatelytodiversifyfinancialinstrumentrisks,andreducesrisksconcentratedinasingleindustry,specificregions,orspecificcounterpartiesbyformulatingcorrespondingriskmanagementpolicies.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.Thedebtorsofourcompany’saccountsreceivablearecustomersdistributedacrossdifferentindustriesandregions.Ourcompanycontinuouslyconductscreditassessmentsonthefinancialconditionofaccountsreceivableandpurchasescreditguaranteeinsurancewhenappropriate.Themaximumcreditriskexposurethatourcompanyisexposedtoisthecarryingamountofeachfinancialassetonthebalancesheet.Ourcompanyhasnotprovidedanyotherguaranteesthatmayexposeourcompanytocreditrisk.Amongtheaccountsreceivableofourcompany,theaccountsreceivableofthetopfivecustomersaccountfor37.35%ofthetotalaccountsreceivableofourcompany(2022:36.54%);Amongtheotherreceivablesofourcompany,theotherreceivablesofthetopfivecompanieswithoutstandingamountsaccountfor41.44%ofthetotalotherreceivablesofourcompany(2022:40.81%).Onthebalancesheetdate,thebookvalueofourcompany’sdebtinvestmentsislistedasfollowsaccordingtotheitemsinthefinancialstatements:
| Item | Currentendingbalance | Lastendingbalance |
| Tradablefinancialassets | 1,122,347.85 | 46,676,652.91 |
| Othercurrentassets | 30,226,849.32 | |
| Total | 31,349,197.17 | 46,676,652.91 |
Liquidityrisk
Liquidityriskreferstotheriskofashortageoffundsencounteredbythecompanywhenfulfillingitsobligationstosettlecashorotherfinancialassets.Whenmanagingliquidityrisk,thecompanymaintainscashandcashequivalentsthatthemanagementdeemssufficientandmonitorsthemtomeetthecompany’soperationalneedsandreducetheimpactofcashflowfluctuations.Themanagementofourcompanymonitorstheuseofbankloansandensurescompliancewithloanagreements.Simultaneouslyobtaincommitmentsfrommajorfinancialinstitutionstoprovidesufficientreservefundstomeetbothshort-termandlong-termfundingneeds.Ourcompanyraisesoperatingfundsthroughfundsgeneratedfrombusinessoperationsandbankloans.Attheendoftheperiod,theunusedbankloanamountofourcompanywas9,118,765,500.00yuan(asoftheendoflastyear:95,093,200.00yuan).Attheendoftheperiod,thefinancialliabilitiesandoffbalancesheetguaranteeitemsheldbythecompanywereanalyzedbasedonthematurityperiodofundiscountedremainingcontractcashflows(unit:10000yuan):
| Item | Currentendingbalance | |||
| Within1year | 1-3years | Over3years | Total | |
| Liabilities: | ||||
| Short-termborrowing | 122,346.24 | 122,346.24 | ||
| Accountpayable | 33,616.52 | 33,616.52 | ||
| Otherpayable | 27,768.76 | 27,768.76 | ||
| Liabilitiesheldforsale | 5,789.03 | 5,789.03 | ||
| Non-currentliabilitiesmaturingwithinoneyear | 2,280.55 | 2,280.55 | ||
| Leasingliabilities | 3,692.57 | 81.93 | 3,774.50 | |
| Totaloffinancialliabilitiesorcontingentliabilities | 191,801.10 | 3,692.57 | 81.93 | 195,575.60 |
Attheendoflastyear,thefinancialliabilitiesandoffbalancesheetguaranteeitemsheldbythecompanywereanalyzedbasedonthematurityperiodofundiscountedremainingcontractcashflows(unit:10000yuan):
| Item | Lastendingbalance | |||
| Within1year | 1-3years | Over3years | Total | |
| Liabilities: | ||||
| Short-termborrowing | 119,221.11 | 119,221.11 | ||
| Tradingfinancialliabilities | 28.85 | 28.85 | ||
| Accountpayable | 39,014.90 | 39,014.90 | ||
| Otherpayable | 29,686.03 | 29,686.03 | ||
| Liabilitiesheldforsale | 2,177.07 | 2,177.07 | ||
| Non-currentliabilitiesmaturingwithinoneyear | 4,413.65 | 1,993.76 | 6,407.41 | |
| Totaloffinancialliabilitiesorcontingentliabilities | 190,421.32 | 4,413.65 | 1,993.76 | 196,828.73 |
Theamountoffinancialliabilitiesdisclosedintheabovetablerepresentsundiscountedcontractcashflows,whichmaydifferfromthecarryingamountinthebalancesheet.Themaximumguaranteeamountofasignedguaranteecontractdoesnotrepresenttheamounttobepaid.MarketriskThemarketriskoffinancialinstrumentsreferstotheriskoffluctuationsinthefairvalueorfuturecashflowsoffinancialinstruments
duetomarketpricechanges,includinginterestraterisk,exchangeraterisk,andotherpricerisks.InterestrateriskInterestrateriskreferstotheriskoffluctuationsinthefairvalueorfuturecashflowsoffinancialinstrumentsduetochangesinmarketinterestrates.Interestrateriskcanarisefrombothconfirmedinterestbearingfinancialinstrumentsandunconfirmedfinancialinstruments(suchascertainloancommitments).Financialliabilitieswithfloatingrateexposethecompanytocashflowinterestraterisk,whileFinancialliabilitieswithfixedrateexposethecompanytofairvalueinterestraterisk.Thecompanydeterminestherelativeratiooffixedandfloatingratecontractsbasedonthemarketenvironmentatthattime,andmaintainsanappropriatecombinationoffixedandfloatingrateinstrumentsthroughregularreviewandsupervision.Thecompanycloselymonitorstheimpactofinterestratechangesonourinterestraterisk.Thecompanycurrentlydoesnotadoptaninterestratehedgingpolicy.Butthemanagementisresponsibleformonitoringinterestrateriskandwillconsiderhedgingsignificantinterestrateriskswhennecessary.Anincreaseininterestrateswillincreasethecostofnewinterestbearingdebtandtheinterestexpensesonfloatinginterestbearingdebtthatthecompanyhasnotyetpaidoff,andwillhaveasignificantadverseimpactonthecompany'sfinancialperformance.Managementwillmaketimelyadjustmentsbasedonthelatestmarketconditions,whichmayinvolvearranginginterestrateswapstoreduceinterestraterisk.Theinterestbearingfinancialinstrumentsheldbyourcompanyareasfollows(unit:10000yuan):
| Item | Currentamount | Lastamount |
| Financialinstrumentwithfixedrate | ||
| Financialliability | 124,683.95 | 108,490.36 |
| Including:short-termborrowing | 122,346.25 | 108,490.36 |
| Liabilitiesheldforsale | 2,337.69 | |
| Total | 124,683.95 | 108,490.36 |
| Financialinstrumentwithfloatingrate | ||
| Financialliabilities | 10,730.75 | |
| Including:short-termborrowing | 10,730.75 | |
| Total | 10,730.75 |
ExchangerateriskExchangerateriskreferstotheriskoffluctuationsinthefairvalueorfuturecashflowsoffinancialinstrumentsduetochangesinforeignexchangerates.Exchangerateriskmayarisefromfinancialinstrumentsdenominatedinforeigncurrenciesotherthantheaccountingbasecurrency.Thecompany’smainoperationsarelocatedwithinChinaandourmainbusinessissettledInRMB.However,therecognizedforeigncurrencyassetsandliabilitiesofthecompany,aswellasfutureforeigncurrencytransactions(thevaluationcurrenciesforforeigncurrencyassetsandliabilitiesandforeigncurrencytransactionsaremainlyUSdollarsandeuros),stillfaceforeignexchangerisks.Attheendoftheperiod,theamountofforeigncurrencyfinancialassetsandforeigncurrencyfinancialliabilitiesheldbythecompanyconvertedintoRMBislistedasfollows(unit:RMB10000):
| Item | Foreigncurrencyliabilities | Foreigncurrencyassets | ||
| Endingbalance | Endingbalanceoflastperiod | Endingbalance | Endingbalanceoflastperiod | |
| USD | 1,371,323.19 | 1,275,961.73 | 3,771,986.09 | 4,601,755.33 |
| Item | Foreigncurrencyliabilities | Foreigncurrencyassets | ||
| Endingbalance | Endingbalanceoflastperiod | Endingbalance | Endingbalanceoflastperiod | |
| ERO | 11,042.18 | |||
| HongKongDollar | 273,248.69 | 165,933.70 | ||
| Total | 1,382,365.37 | 1,275,961.73 | 4,045,234.78 | 4,767,689.03 |
Thecompanycloselymonitorstheimpactofexchangeratefluctuationsonourexchangeraterisk.Thecompanyhasnottakenanymeasurestomitigateexchangeraterisksatpresent.Butthemanagementisresponsibleformonitoringexchangerateriskandwillconsiderhedgingsignificantexchangerateriskswhennecessary.
(2)CapitalmanagementThegoalofthecompany’scapitalmanagementpolicyistoensurethatwecancontinuetooperate,providereturnstoshareholders,andbenefitotherstakeholderswhilemaintainingtheoptimalcapitalstructuretoreducecapitalcosts.Inordertomaintainoradjustitscapitalstructure,thecompanymayadjustitsfinancingmethods,adjusttheamountofdividendspaidtoshareholders,returncapitaltoshareholders,issuenewsharesandotherequityinstruments,orsellassetstoreducedebt.Thecompanymonitorsitscapitalstructurebasedontheassetliabilityratio(totalliabilitiesdividedbytotalassets).Attheendoftheperiod,thecompany’sassetliabilityratiowas34.07%(35.06%attheendofthepreviousyear).
2.Hedge
(1)Riskmanagementforhedgebusiness
□Applicable?Notapplicable
(2)Thecompanyconductseligiblehedgingbusinessandapplieshedgingaccounting
InRMB
| Item | Bookvaluerelatedtohedgeditemsandhedginginstruments | Adjustmentofaccumulatedfairvaluehedgingincludedintherecognizedbookvalueofhedgeditems | Sourcesofhedgeeffectivenessandhedgeineffectiveness | Impactofhedgeaccountingonthecompany’sfinancialstatements |
| Typeofhedgerisk | ||||
| Typeofhedge | ||||
Otherexplanation
(3)Thecompanyconductshedgingbusinessforriskmanagement.Itisexpectedtoachieveriskmanagementgoalsbuthasnotappliedhedgingaccounting
□Applicable?Notapplicable
3.Financialassets
(1)Bytransfermanner?Applicable?Notapplicable
(2)Financialassetsderecognizedduetotransfer?Applicable?Notapplicable
(3)Financialassetswhicharetransferredandinvolvedcontinuously?Applicable?NotapplicableOtherexplanation:NilXIII.Disclosureoffairvalue
1.Endingfairvalueoftheassetsandliabilitiesmeasuredbyfairvalue
InRMB
| Item | Endingfairvalue | |||
| First-order | Second-order | Third-order | Total | |
| I.Sustainingmeasuredbyfairvalue | 1,122,347.85 | 30,226,849.32 | 31,349,197.17 | |
| (i)Tradablefinancialassets | 1,122,347.85 | 1,122,347.85 | ||
| 1.Financialassetsmeasuredbyfairvalueandwithvariationreckonedintocurrentgains/losses | 1,122,347.85 | 1,122,347.85 | ||
| (2)Equityinstrumentinvestment | 30,226,849.32 | 30,226,849.32 | ||
| 2.Financialassetswhicharedesignatedtobemeasuredbyfairvalueandwithvariationreckonedintocurrentgains/losses | 30,226,849.32 | 30,226,849.32 | ||
| (1)Investmentindebtinstrument | 57,500.00 | 57,500.00 | ||
| (iii)Investmentinotherequityinstruments | 1,122,347.85 | 30,226,849.32 | 57,500.00 | 31,406,697.17 |
| Totalassetscontinuouslymeasuredatfairvalue | -- | -- | -- | -- |
| II.Non-sustainingmeasuredbyfairvalue | -- | -- | -- | -- |
2.Recognizedbasisforthemarketpricesustainingandnon-persistentmeasuredbyfairvalueonfirst-order
3.Valuationtechniqueandqualitativeandquantitativeinformationonmajorparametersforthefairvaluemeasuresustainingandnon-persistentonsecond-order
| Content | Endingfairvalue | Valuationtechnology | Unobservableinputvalue |
| Debtinstrumentfinancing | 30,226,849.32 | Bankquotation | Issuanceinterestrate |
4.Valuationtechniqueandqualitativeandquantitativeinformationonmajorparametersforthefairvaluemeasuresustainingandnon-persistentonthird-order
| Content | Endingfairvalue | Valuationtechnology | Unobservableinputvalue |
| Non-listedequityinvestment | 57,500.00 | Marketmethod | Investmentcost |
5.Adjustmentinformationandsensitivityanalysisofunobservableparametersforthefairvaluemeasuresustainingandnon-persistentonthird-order
6.Sustainingitemsmeasuredbyfairvalue,asfortheconversionbetweenatalllevels,reasonsforconversionandpolicyforconversiontimepoint
7.ChangesofvaluationtechniqueinthePeriod
8.Financialassetsandliabilitiesnotmeasuredbyfairvalue
9.Other
XIV.Relatedpartyandrelatedtransactions
1.Parentcompany
| Parentcompany | Registrationplace | Businessnature | Registeredcapital | RatioofshareholdingontheCompany | RatioofvotingrightontheCompany |
| ShenzhenFoodMaterialsGroupCo.,Ltd | Shenzhen | Investinginindustry,development,operationandmanagementoftheownproperty | 5,000millionyuan | 63.79% | 72.02% |
ExplanationonparentcompanyoftheCompanyTheultimatecontrolleroftheCompanyisShenzhenMunicipalPeople’sGovernmentState-ownedAssetsSupervision&AdministrationCommissionOtherexplanation:
2.SubsidiariesoftheCompanyFormoredetailsofsubsidiariesoftheCompany,pleasereferto“NoteX(1)”.
3.JointventureandassociatedenterpriseoftheCompany
FormoredetailsofimportantjointventureandassociatedenterpriseoftheCompany,pleasereferto“NoteX(3)”.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 | SubsidiariesoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
| ZhanjiangChangshan(Shenzhen)EcologicalAquacultureCo.,Ltd | SubsidiariesoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
| ZhanjiangHaitianAquaticFeedCo.,Ltd | SubsidiariesoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
| ShenzhenHigreenRealEstateCo.,Ltd | SubsidiariesoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
| ShenzhenSouthernAgriculturalProductsLogisticsCo.,Ltd | SubsidiariesoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
| ShenzhenAgriculturalProductsSmallLoanCo.,Ltd | SubsidiariesoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
| ShenzhenAgriculturalProductsE-commerceCo.,Ltd | SubsidiariesoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
| ZhanjiangHaitianAquaticFeedCo.,Ltd | SubsidiariesoftheCompany’sshareholders,controlledbytheultimatecontrollingparty |
| ShenzhenShenliangColdTransportCo.,Ltd. | HoldingsubsidiariesoftheCompany’sassociatedenterprise |
| 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 |
| ShenzhenShenliangColdTransportCo.,Ltd. | Warehousingservices/Transportationservices | 297,749.51 | 297,749.51 | N | 1,954,385.49 |
| ShenzhenShenyuanDataTech.Co.,Ltd | Informationsoftwaredevelopment | 16,241,326.17 | 16,241,326.17 | N | 16,158,003.35 |
| ShenzhenMunicipalPeople’sGovernmentState-ownedAssetsSupervision&AdministrationCommission | Warehousingservice | 23,510,737.60 | 23,510,737.60 | N | 72,665,398.00 |
| ShenzhenShennongKitchenCo.,Ltd | Procurementofgoods | 2,270,681.12 | 2,270,681.12 | N | 2,306,054.19 |
Goodssold/laborserviceproviding
InRMB
| Relatedparty | Contentofrelatedtransactioncontent | Currentperiod | Lastperiod |
| ShenzhenAgriculturalPowerGroupCo.,Ltd. | Grainandoilsales,assetmanagement,teasales | 3,070,581.93 | 3,429,685.58 |
| ShenzhenZhenchuSupplyChainCo.,Ltd. | Grainandoilsalesandtransportationservices | 1,769,540.05 | 22,644,698.63 |
| ShenzhenShenliangColdTransportCo.,Ltd. | Grainsales,warehousingservices,teasales | 1,006,521.86 | 73,053.97 |
| ShenzhenShennongKitchenCo.,Ltd | Grainandoilsales,teasales | 767,892.60 | 1,227,568.04 |
| ZhanjiangChangshan(Shenzhen)EcologicalAquacultureCo.,Ltd | Propertymanagementservices | 90,650.80 | 183,595.18 |
| ShenzhenShenyuanDataTech.Co.,Ltd | Grainandoilsales | 42,503.14 | 56,532.51 |
| ZhanjiangHaitianAquaticFeedCo.,Ltd | Propertymanagementservices | 33,934.65 | |
| ShenzhenAgriculturalProductsGroupCo.,Ltd | Teasales,grainandoilsales | 26,782.29 | 43,610.35 |
| ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | Teasalesandpropertymanagementservices | 20,754.69 | 38,534.00 |
| GuangxiHigreenAgriculturalProductsInternationalLogisticsCo.,Ltd. | Grainandoilsales | 16,481.42 | |
| ShenzhenHigreenInternationalAgriculturalProductsLogisticManagementCo.,Ltd | Grainandoilsales | 12,361.06 | |
| ShenzhenHigreenRealEstateCo.,Ltd | Grainandoilsales | 5,061.14 | |
| ShenzhenSouthernAgriculturalProductsLogisticsCo.,Ltd | Grainandoilsales | 10,300.88 | |
| ShenzhenAgriculturalProductsSmallLoanCo.,Ltd | Grainandoilsales | 4,120.35 | |
| ShenzhenAgriculturalProductsE-commerceCo.,Ltd | Teasales | 261,147.54 | |
| ChengduAgriculturalProductsCenterWholesaleMarketCo.,Ltd. | Grainandoilsales | 24,722.12 | |
| HuizhouHigreenAgriculturalProductsInternationalLogisticsCo.,Ltd. | Grainandoilsales | 118,229.69 | |
| ShenzhenMedicalMaterialsCo.,Ltd. | Grainandoilsales | 4,120.35 | |
| ShenzhenShennongLandCo.,Ltd. | Grainandoilsales | 3,933.46 |
Explanationongoodspurchasing,laborserviceprovidingandreceiving
(2)Relatedtrusteeshipmanagement/contract&entrustmanagement/outsourcingTrusteeshipmanagement/contract:
InRMB
| Client/Contract-outparty | Entrustingparty/Contractor | Trustee/assetscontract | Trustee/start | Trustee/ends | Managedearnings/pricingofthecontractearnings | Managedearningsconfirmedintheperiod/contractearnings |
Relatedmanaged/contract:
Entrustedmanagement/outsourcing:
InRMB
| Client/Contract-outparty | Entrustingparty/Contractor | Trustee/assetscontract | Trustee/start | Trustee/ends | Managedearnings/pricingofthecontractearnings | Managedearningsconfirmedintheperiod/contractearnings |
Relatedmanagement/outsourcing:
(3)RelatedleaseThecompanyactsasthelessor:
InRMB
| Lessee | Assetstype | LeaseincomerecognizedinthePeriod | LeaseincomerecognizedlastPeriod |
| ShenzhenShenyuanDataTechnologyCo.,ltd. | Operatingsite | 523,988.52 | 523,988.52 |
| ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | Officespace | 244,577.19 | 259,040.04 |
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 | Officespace | 31,542.00 | 31,542.00 | 31,542.00 | 31,542.00 | ||||||
| ZhangTiejun | Officebuildings,employeedormitories | 72,757.60 | 72,757.60 | ||||||||
Explanationonrelatedlease
(4)Relatedguarantee
TheCompanyactsastheguarantor
InRMB
| Securedparty | Guaranteeamount | Guaranteestartdate | Guaranteeexpirydate | Whethertheguaranteehasbeenfulfilled |
TheCompanyactsasthesecuredparty
InRMB
| Guarantor | Guaranteeamount | Guaranteestartdate | Guaranteeexpirydate | Whethertheguaranteehasbeenfulfilled |
Explanationonrelatedguarantee:
(5)Relatedparty’sborrowedfunds
InRMB
| Relatedparty | Borrowingamount | Startingdate | Maturitydate | Note |
| Borrowing | ||||
| YaoJicheng | 1,990,000.00 | 2021-11-25 | 2022-11-24 | |
| YaoJicheng | 4,010,000.00 | 2021-12-30 | 2022-12-29 | |
| Lending | ||||
(6)Assetstransferanddebtreorganizationofrelatedparty
InRMB
| Relatedparty | Contentofrelatedtransaction | CurrentPeriod | LastPeriod |
(7)Remunerationofkeyexecutives
InRMB
| Item | CurrentPeriod | LastPeriod |
| Remunerationofkeyexecutives | 10,507,400.00 | 11,487,300.00 |
(8)Otherrelatedtransaction
6.Receivableandpayableofrelatedparty
(1)Receivableitem
InRMB
| Item | Relatedparty | Endingbalance | Openingbalance | ||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | ||
| Accountreceivable | ShenzhenZhenchuSupplyChainCo.,Ltd. | 437,388.10 | 4,420.95 | 2,502,691.02 | 25,026.91 |
| Accountreceivable | ShenzhenShennongKitchenCo.,Ltd | 272,089.00 | 2,720.89 | 43,151.00 | 431.51 |
| Accountreceivable | HuizhouHigreenAgriculturalProductsInternationalLogisticsCo.,Ltd. | 23,220.00 | 232.20 | 30,264.00 | 302.64 |
| Accountreceivable | ShenzhenAgriculturalPowerGroupCo.,Ltd. | 15,884.00 | 158.84 | 21,764.00 | 217.64 |
| Accountreceivable | ShenzhenShenliangColdTransportCo.,Ltd. | 9,882.80 | 98.83 | 9,434.00 | 94.34 |
| Accountreceivable | ShenzhenAgriculturalProductsGroupCo.,Ltd | 4,656.00 | 46.56 | ||
| Accountreceivable | ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | 1,123.20 | 1,123.20 | ||
| Otheraccountreceivable | ChangzhouShenbaoChacangE-businessCo., | 24,608,742.46 | 22,187,644.18 | 24,608,742.46 | 22,187,644.18 |
| Ltd. | |||||
| Otheraccountreceivable | ShenzhenShichumingmenCateringManagementCo.,Ltd. | 1,908,202.67 | 1,908,202.67 | 1,908,202.67 | 1,908,202.67 |
| Otheraccountreceivable | ShenzhenAgriculturalPowerGroupCo.,Ltd. | 1,001,000.00 | 1,104,355.28 | ||
| Otheraccountreceivable | YaoJicheng | 463,085.35 | 1,702.29 | 463,085.35 | 1,702.29 |
| Otheraccountreceivable | ShenzhenShenyuanDataTech.Co.,Ltd | 466,800.00 | 4,668.00 | 27,000.00 | 270.00 |
| Otheraccountreceivable | ShenzhenHigreenInternationalAgriculturalProductsLogisticManagementCo.,Ltd | 50,000.00 | 50,000.00 | ||
| Otheraccountreceivable | ShenzhenShenliangColdTransportCo.,Ltd. | 10,000.00 | 10,000.00 | ||
| Otheraccountreceivable | ZhanjiangChangshan(Shenzhen)EcologicalAquacultureCo.,Ltd | 5,520.00 | 5,520.00 | 5,520.00 | 5,520.00 |
| Otheraccountreceivable | ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | 2,000.00 | 4,000.00 | ||
| Otheraccountreceivable | ShenzhenMunicipalPeople’sGovernmentState-ownedAssetsSupervision&AdministrationCommission | 30,132.00 | |||
| Otheraccountreceivable | ShenzhenZhenchuSupplyChainCo.,Ltd. | 1,000,000.00 | |||
| Prepaidaccounts | ShenzhenShenyuanDataTech.Co.,Ltd | 125,100.00 |
(2)Payableitem
InRMB
| Item | Relatedparty | Endingbookbalance | Openingbookbalance |
| Accountpayable | ShenzhenShenyuanDataTech.Co.,Ltd | 87,671.67 | 485,080.53 |
| Accountpayable | ShenzhenShenliangColdTransportCo.,Ltd. | 2,033.96 | |
| Accountpayable | ShenzhenMunicipalPeople’sGovernmentState-ownedAssetsSupervision&AdministrationCommission | 23,263,563.60 | 39,633,221.00 |
| Otheraccountpayable | ShenzhenShenliangColdTransportCo.,Ltd. | 280,000.00 | |
| Otheraccountpayable | ShenzhenAgriculturalPowerGroupCo.,Ltd. | 146,162,941.72 | 146,162,941.72 |
| Otheraccountpayable | ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | 41,486.00 | 41,486.00 |
| Otheraccountpayable | ShenzhenShennongKitchenCo.,Ltd | 275,000.00 | 200,000.00 |
| Otheraccountpayable | ShenzhenShenyuanDataTech.Co.,Ltd | 1,727,021.67 | 3,564,200.00 |
| Otheraccountpayable | YaoJicheng | 10,564,054.93 | 10,650,837.33 |
| Otheraccountpayable | ZhanjiangHaitianAquaticFeedCo.,Ltd | 20,000.00 | 20,000.00 |
| Otheraccountpayable | ZhanjiangChangshan(Shenzhen)EcologicalAquacultureCo.,Ltd | 8,069,454.17 | 8,051,954.17 |
| Otheraccountpayable | ZhangTiejun | 34,850.00 | |
| Contractliability | ShenzhenAgriculturalPowerGroupCo.,Ltd. | 280.00 | |
| Contractliability | ShenzhenZhenchuSupplyChainCo.,Ltd. | 3,760.00 | |
| Contractliability | ShenzhenShenliangColdTransportCo.,Ltd. | 2,160.00 | |
| Contractliability | ShenzhenShenyuanDataTech.Co.,Ltd | 2,696.00 | |
| Contractliability | ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | 1,123.20 |
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-basedpayment
Nil
6.Other
Nil
XVI.Commitmentorcontingency
1.ImportantcommitmentsImportantcommitmentsonbalancesheetdateCapitalcommitment
| Capitalcommitmentsthathavebeensignedbuthavenotyetbeenconfirmedinthefinancialstatements | Endingbalance |
| Commitmenttopurchaseandconstructlong-termassets | 2,505,434.05 |
AsofDecember31,2023,therearenoothersignificantcommitmentsthatthecompanyshoulddisclose
2.Contingency
(1)Contingencyonbalancesheetdate
(1)Contingentliabilitiesarisingfrompendinglitigationandarbitrationandtheirfinancialimpact
| SN | Plaintiff | Defendant | Cause | Court | Target(’0000yuan) | Progress |
| 1 | ShenzhenYanxinIndustrialCo.,Ltd(YanxinIndustrial) | ShenzhenCerealsGroup | Partofleasecontractdisputelawsuit | LonggangDistrictPeople’sCourtofShenzhen,GuangdongProvince | 158.38 | Pending |
| 2 | NanshanDistrictHousingandUrban-RuralDevelopmentBureau | ShenzhenCerealsGroup | Contractdisputelawsuit | theFutianDistrictPeople’sCourtofShenzhen,GuangdongProvince | 389.88 | Pending |
| 3 | ZhonggangConstructionGroupCo.,Ltd(ZhonggangConstruction) | DongguanLogistics | Constructionengineeringcontractdisputelawsuit | TheFirstPeople’sCourtofDongguanCity,GuangdongProvince,GuangzhouMaritimeCourtofHaizhuDistrict,GuangzhouCity,Guangdong | 2,168.62 | Pending |
| SN | Plaintiff | Defendant | Cause | Court | Target(’0000yuan) | Progress |
| Province | ||||||
| 4 | ZhongjiGuoliangTrade(Liaoning)Co.,Ltd(ZhongjiGuoliang) | HualianCompany,ShenzhenCerealsGroupCo.,Ltd,ShenzhenCerealsHoldingsCo.,Ltd. | Disputesoversalescontracts | TheFirstPeople’sCourtofDongguanCity,GuangdongProvince, | 297.31 | Pending |
| 5 | PengMiaosheng | InternationalFoodIndustrialPark,GuangdongyongshenConstructionEngineeringCo.,Ltd,XuJianqiang | Constructionengineeringcontractdisputelawsuit | TheFirstPeople’sCourtofDongguanCity,GuangdongProvince, | 453.51 | Pending |
| 6 | GuangdongLuofuMountainTourismDevelopmentCo.,Ltd(LuofuMoutainGourism) | ShenliangProperty,ShenzhenNanshanCerealCo.,Ltd(NanshanCereal),ShenzhenAgriculturalPowerGroupCo.,Ltd.(ShenzhenAgriculturalPowerGroup) | Contractdisputelawsuit | BoluoCountyPeople’sCourt,GuanagdongProvince | 6.14 | Pending |
1LeaseContractDisputebetweenYanxinIndustrialandShenzhenCeralsGroup(Part)
OnApril12,2022,theplaintiffYanxinIndustrialsuedShenzhenCerealsGroupintheLonggangDistrictPeople’sCourtofShenzhen,requestingthedefendanttopaytheplaintiffthefollowingamountstotaling1,583,800yuan:1)Compensationfortheplaintiff’shousingrenovationexpensesof1,263,800yuan(includingfireengineeringconstructioncostsof1,840,000yuan,purchaseoffireequipmentcostsof900,000yuan(buildings1-6),anddecorationengineeringconstructioncostsof3,062,000yuan);2)Compensationfortheplaintiff’swaterandelectricityfacilitymaintenancefeesof120,000yuan(18,000yuanperyearforbuilding3);
3)Compensationfortheplaintiff’sexpensesofconvertingthepropertyfromindustrialtocommercialuse,amountingto200,000yuan;4)Litigationcoststobebornebythedefendant.OnJanuary11,2023,theLonggangDistrictPeople’sCourtofShenzhenmadeajudgment:thedefendantShenzhenCerealsGroupshallpaytheplaintiffYanxinIndustries640,000.00yuanforhouserenovationcompensationwithinsevendaysfromtheeffectivedateofthisjudgment;theotherclaimsoftheplaintiffYanxinIndustriesaredismissed.Thecaseacceptancefeeis24,200.00yuan,with11,200.00yuanbornebytheplaintiffand13,000.00yuanbornebythedefendant.Boththeplaintiffandthedefendanthaveappealed.OnJanuary26,2024,theGuangdongProvinceShenzhenIntermediatePeople’sCourtmadearuling:thefirst-instancejudgmentisrevoked;thecaseisremandedtotheLonggangDistrictPeople’sCourtofShenzhen,GuangdongProvinceforretrial.Asofnow,theCompanyisunabletodeterminethefinancialimpactofpotentialliabilities,andtheestimatedliabilitiesforthispendinglawsuithavenotbeenrecognized.2ContractDisputebetweenNanshanDistrictHousingandUrban-RuralDevelopmentBureauandShenzhenCerealsGroup
OnSeptember1,2022,theNanshanDistrictHousingandUrban-RuralDevelopmentBureaufiledalawsuitwiththeFutianDistrictPeople’sCourtofShenzhenagainstShenzhenCerealsGroup,requesting:1)JudgementforthedefendantCerealsGrouptofulfillitsassistanceobligationbyissuingcorrespondinglegalandtax-inclusiveinvoicestotheplaintifffortherepurchaseamount,withaninvoiceamountof3.8988millionyuan.2)Thelitigationcostsinthiscaseshallbebornebythedefendant.OnJuly3,2023,ShenzhenCerealsGroupappliedtotheFutianDistrictPeople’sCourtofShenzhentoaddShenzhenYulundaInvestmentDevelopmentCo.,Ltd.(hereinafterreferredtoas“Yulunda”)asathird-partydefendantinthiscase.Atthesametime,ShenzhenCerealsGroupfiledacounterclaimwiththeFutianDistrictPeople’sCourtofShenzhen,requesting:1)Requestthecourttoorderthecancellationofthe“repurchaseagreement”signedbytheoriginaldefendantandplaintiffonApril26,2019.2)Requestthe
courttoorderthecounterclaimcostsinthiscasetobebornebythecounter-defendant.OnJuly18,2023,thefirsttrialwasheld,andtheFutianDistrictPeople’sCourtagreedtoaddShenzhenYulundaInvestmentDevelopmentCo.,Ltd.asathird-partydefendantinthelawsuit.OnJanuary26,2024,theFutianDistrictPeople’sCourtofShenzhenruled:I)ThedefendantCerealsGroupshallissuelegalandtax-inclusiveinvoicestotheplaintiffNanshanDistrictHousingandUrban-RuralDevelopmentBureauintheamountof3.8988millionyuanwithintendaysfromtheeffectivedateofthisjudgment.II)DismissthecounterclaimrequestofthedefendantShenzhenCerealsGroup.OnFebruary7,2024,ShenzhenCerealsGroupfiledanappeal.Thecaseiscurrentlyunderreview.AccordingtotheagreementandsupplementaryagreementsignedbetweenourcompanyandYulundaregardingthecooperativerenovationofDingtouVillageCerealsWarehouseProject,ourcompanycooperateswithYulundatoconstructproperties.Ourcompanyreceives5,600squaremetersofself-usepropertiesaccordingtothespecifiedbuildingdecorationstandards,andallotherpropertyrightsbelongtoYulunda;ourcompanyreceivesfixedprofitsfromtheproject,andalloperationalrisksandlossesfromtheprojectdevelopmentarebornebyYulunda.OurcompanyandYulundahavejointlyestablishedabank-managedaccount,andthebalanceofthemanagedaccountcurrentlystandsat5.1millionyuan.Itisanticipatedthatthepurchasefundsof3.8988millionyuanfromNanshanDistrictHousingandUrban-RuralDevelopmentBureauwillbereceived,andtheaccountbalancewillreach9.00millionyuan,coveringthepotentiallossesthatmayarisefromthejudgment.Asofnow,ourcompanydoesnotneedtorecognizeestimatedliabilitiesforthispendinglawsuit.
3ConstructionEngineeringContractDisputebetweenZhonggangConstructionandDongguanLogistics
OnApril24,2023,DongguanLogisticsreceivedthe“CivilComplaint”andotherrelateddocuments.ZhonggangConstructionfiledalawsuitagainstDongguanLogisticswiththeFirstPeople’sCourtofDongguanCity,requesting:1)Judgmentforthedefendanttopaytheplaintiffconstructionfeesof15,614,000.00yuan;2)Judgmentforthedefendanttopayoverduepaymentinteresttotheplaintiff(specificcalculationdetailedinthe“InterestCalculationTable,”currentlytotaling6,072,200.00yuanuntilFebruary24,2023);3)Thedefendanttobearalllitigationcostsinthiscase.Thetotalamountoftheaforementionedfirstandsecondlitigationrequestsiscurrently21,686,200.00yuan.OnMay24,2023,DongguanLogisticsfiledacounterclaimagainstZhonggangConstructionasthecounterclaimplaintiffwiththeDongguanCityFirstPeople’sCourt,requesting:1)Judgmentforthecounterclaimdefendanttopaythecounterclaimplaintiffapenaltyof2.0198millionyuan(basedontheprovisionalsettlementpriceoftheproject,100.9891millionyuan,calculatedat2%oftheprovisionalsettlementpriceoftheproject,withthefinalpenaltyamounttobedeterminedbythecourt);2)Allcounterclaimcostsinthiscasetobebornebythecounterclaimdefendant.OnJune5,2023,ZhonggangConstructionaddedalitigationrequest:thedefendanttocompensatetheplaintiffforthelossduetoprojectdelayof6.02millionyuan.OnJune9,2023,theFirstPeople’sCourtofDongguanCityinformed:duetotherelevanceofGuangdongShippingPlanningandDesignInstituteCo.,Ltd.(hereinafterreferredtoas“ShippingPlanning”)tothiscase,toclarifythefactsofthecase,thecourtpermittedtheplaintiff'sapplicationtoaddGuangdongShippingPlanningandDesignInstituteCo.,Ltd.asthethirdpartytothelawsuit.OnJune30,2023,ZhonggangConstructionfiledalawsuitwiththeGuangzhouMaritimeCourtagainstDongguanLogisticsasthedefendantandGuangdongShippingPlanningandDesignInstituteCo.,Ltd.(hereinafterreferredtoas“ShippingPlan”)asthethirdparty,requesting:1)Judgmentforthedefendanttopaytheplaintiffconstructionfeesof15.614millionyuan;2)Judgmentforthedefendanttopayoverduepaymentinteresttotheplaintiff(specificcalculationdetailedinthe“InterestCalculationTable,”currently
totaling6.3713millionyuanuntilJune30,2023);3)Judgmentforthedefendanttocompensatetheplaintiffforthelossduetoprojectdelayof6.02millionyuan;4)Thedefendanttobearalllitigationcostsinthiscase.Thetotalamountoftheaforementionedfirsttothirdlitigationrequestsiscurrently28.0054millionyuan.OnJuly4,2023,ZhonggangConstructionappliedtowithdrawthelawsuitduetojurisdictionalchangetotheDongguanCityFirstPeople’sCourt.OnJuly5,2023,DongguanLogisticsappliedtowithdrawthecounterclaim.OnAugust11,2023,theFirstPeople’sCourtofDongguanCitymadeacivilruling,agreeingtobothparties’withdrawalofthelawsuit.OnAugust23,2023,DongguanLogistics(counterclaimplaintiff)filedacounterclaimwiththeGuangzhouMaritimeCourt,withZhonggangConstructionasthecounterclaimdefendantandShippingPlanningasthethirdparty,requesting:1)Judgmentforthecounterclaimdefendanttopaythecounterclaimplaintiffapenaltyof2.0198millionyuan(basedontheprovisionalsettlementpriceoftheproject,100.9891millionyuan,calculatedat2%oftheprovisionalsettlementpriceoftheproject,withthefinalpenaltyamounttobedeterminedbythecourt);2)Allcounterclaimcostsinthiscasetobebornebythecounterclaimdefendant.OnSeptember11,2023,apre-trialconferencewasheldattheGuangzhouMaritimeCourt,duringwhichthejudgeorganizedbothpartiesforcross-examinationoftheevidenceandquestionedbothpartiesaboutthefactsofthecase.OnSeptember15,2023,theplaintiffsubmittedanapplicationtothecourttoconductanappraisalofthedisputedissuesinthecase.OnOctober13,2023,thecourtheldasecondpre-trialconference,duringwhichbothpartiescompletedallcross-examinationsoftheevidencesubmittedbytheotherparty.OnOctober17,2023,theoriginaldefendantsclarifiedthescopeoftheappraisalmaterialsforthisappraisalandmailedtheappraisalmaterials.OnNovember6,2023,theappraisalinstitutionwasdeterminedtobeNanjingYongdaoEngineeringConsultingCo.,Ltd.,ZhuhaiBranch.OnDecember4,2023,theappraisalinstitutionconductedon-siteinspectionsatthefirstphaseterminalofDongguanLogistics.OnDecember18,2023,bothpartiessubmittedadditionalappraisalmaterialsinaccordancewiththerequirementsofthecourtandtheappraisalinstitution,andprovidedcross-examinationopinionsontheadditionalmaterialssubmittedbytheotherparty.Asofnow,ourcompanyisunabletodeterminethefinancialimpactofpotentialliabilities,andestimatedliabilitiesforthispendinglawsuithavenotbeenrecognized.
4ContractDisputeLawsuitbetweenZhongjiGuoliangandHualianCompany,ShenzhenCerealsGroup,andShenzhenCereals
HoldingsZhongjiGuoliangfiledalawsuitagainstHualianCompany(thefirstdefendant),CerealsGroup(theseconddefendant),andShenzhenCerealsHoldings(thethirddefendant)withtheFutianDistrictPeople’sCourtofShenzhen,requesting:1)Judgmentforthefirstdefendanttorefundthedeductedpaymentof2.7254millionyuanandcompensatetheplaintiffforoverduelosses(basedonthedeductedpaymentof2.7254millionyuan,calculatedattheone-yearloanmarketquotedinterestrate(LPR)plus50%,fromNovember12,2021,tothedateofpayment,currentlytotaling0.2477millionyuanuntilJuly11,2023);2)theseconddefendantandthethirddefendanttojointlyassumetheliabilityforthefirstlitigationrequest;3)Litigationfees,propertypreservationfees,andotherlitigationcoststobebornebythethreedefendants(thetotalamountforthefirstlitigationrequestcurrentlyamountsto2.9731millionyuanuntilJuly11,2023).OnAugust7,2023,theFutianDistrictPeople’sCourtofShenzhenissuedacivilrulingtoseal,seize,orfreezepropertyunderthenameofHualianCompanyworth2.9731millionyuan.OnNovember17,2023,thecasewasheardincourt,andthecourthasnotyetmadeajudgment.Asofnow,ourcompanyanticipatesahighprobabilityofwinningthecase,andifsuccessful,nolosseswillbeincurred.
ConstructionContractDisputeLawsuitbetweenPengMiaoshengandFoodIndustryPark,YongshengConstruction,andXu
JianqiangConstruction
OnOctober24,2023,PengMiaoshengfiledalawsuitwiththeFirstPeople’sCourtofDongguanCity,withthefollowinglitigationrequests:1)DemandforDefendantXuJianqiangtopayconstructionlaborfeesof4.0973millionyuan;2)DemandforDefendantXuJianqiangtopayinterestonconstructionlaborfees.Calculatedattheone-yearloanmarketquotedinterestrateof3.85%publishedbytheNationalInterbankFundingCenterfromJanuary6,2021,untilthefullrepaymentoftheconstructionfeeof4.0973millionyuan.TheinterestaccrueduntilOctober24,2023,amountsto0.4377millionyuan;3)YongshengConstructiontobearjointandseveralpaymentresponsibilityfortheaforementionedfeeof4.0973millionyuanandinterest;4)DongguanInternationalFoodIndustryParkDevelopmentCo.,Ltd.tobearpaymentresponsibilityfortheaforementionedconstructionfeeof4.0973millionyuanandinterestwithinthescopeofitsoutstandingpaymentfortheconstructionfee.Thetotalamountfortheabovefeesiscurrently4.5351millionyuan;5)Demandforthedefendanttobearalllitigationcosts.OnJanuary24,2024,thecourtorganizedbothpartiestopresentcross-examinationopinionsontheevidenceprovidedbytheotherpartyandconductedaninvestigationintothecase.Asofnow,thecompanyisunabletodeterminethefinancialimpactofpotentialliabilities,andestimatedliabilitiesforthispendinglawsuithavenotbeenrecognized.
ContractDisputebetweenLuofuMountainTourismandShenliangProperty,NanshanCereals,andShenzhenAgriculturalPowerGroupTheplaintiff,LuofuMountainTourism,filedalawsuitagainstShenliangProperty,NanshanCereals,andShenzhenAgriculturalPowerwiththeBoluoCountyPeople’sCourt,requesting:1)Orderforthethreedefendantstoreturntheland,buildings,andfixedfacilitieslocatedintheXiangshansectionoftheZhumingCaveScenicAreaofLuofuMountaintotheplaintiffwithintendaysoftheeffectivedateofthisjudgment;2)Orderforthethreedefendantstojointlypaytheplaintiffamonthlyoccupationfeeof7,670yuan(specificallysubjecttoassessment)startingfromOctober1,2022,untiltheactualdateofvacatingbythedefendants(thecurrentcalculatedoccupationfeeuntilthedateoffilingthelawsuitis61,400yuan);3)Litigationfees,assessmentfees,etc.,tobebornebythethreedefendants.Duringthecourseofthetrial,theplaintiff,LuofuMountainTourism,amendedthesecondlitigationrequestto:Orderforthethreedefendantstojointlypaytheplaintiffamonthlyoccupationfeeof1,000.00yuanstartingfromOctober1,2022,untiltheactualdateofvacatingbythedefendants.OnNovember14,2023,BoluoCountyPeople’sCourtruled:1)DefendantsNanshanCereals,ShenliangProperty,andShenzhenAgriculturalPowerGroupshallreturntheland,buildings,andfixedfacilitiesoccupiedbythe“NanpengResortVillage”locatedintheXiangshansectionoftheLuofuMountainZhumingCaveScenicAreatotheplaintiffLuofuMountainTourismwithinfifteendaysoftheeffectivedateofthisjudgment;2)DismissotherlitigationrequestsfromtheplaintiffLuofuMountainTourism;3)Alldefendantshavefiledappealswiththecourt.OnDecember12,2023,duetotheconstructionneedsoftheinfrastructurefacilitiesprojectinRuLakeWestGarden,HuichengDistrict,HuizhouShenzhenBaoenteredintoa“State-ownedLandUseRightRepurchaseCompensationAgreement”withtheNaturalResourcesBureauofHuichengDistrict,HuizhouCity.TheNaturalResourcesBureauofHuichengDistrict,HuizhouCity,repurchasedthestate-ownedlanduserightstotaling29,244.33squaremetersownedbyHuizhouShenzhenBaoinEastAsiaVillage,HuichengDistrict,andretained3,637.67squaremetersoflandonthenortheastsideoutsidetheplannedroadrange.TheNaturalResourcesBureauofHuichengDistrict,HuizhouCity,willpayaone-timecompensationof16.564millionyuantoHuizhouShenzhenBao'saccountbeforeFebruary29,2024.OnJanuary30,2024,HuizhouShenzhenBaoreceivedtheaforementionedlanduserightscompensationfromtheNaturalResourcesBureauofHuichengDistrict,HuizhouCity.Asofnow,theproceduresforthetransferoflandownershiparebeingprocessed.OnDecember12,2023,duetotheconstructionneedsoftheinfrastructureprojectofRuhuWestParkinHuichengDistrict,Huizhou
Shenbaosignedacompensationagreementfortherecoveryofstate-ownedlanduserightswiththeHuichengDistrictNaturalResourcesBureau.TheHuichengDistrictNaturalResourcesBureauofHuizhouCityimplementedanagreementtorecoverthe29,244.33squaremetersofstate-ownedlanduserightsofHuizhouShenbaolocatedinRuhuEastAsiaVillage,HuichengDistrict,retaining3,637.67squaremetersoflandonthenortheastsideoutsidetheplannedroadrange.TheNaturalResourcesBureauofHuichengDistrict,HuizhouCitymadeaone-timepaymentofatotalof16.564millionyuaninlandcompensationtotheaccountofHuizhouShenbaobeforeFebruary29,2024.OnJanuary30,2024,HuizhouShenbaoreceivedtheaforementionedcompensationforlanduserightsfromtheNaturalResourcesBureauofHuichengDistrict,HuizhouCity.Asofnow,thelandownershiptransferprocedureisbeingprocessed.Thecompanytransferred51%oftheequityanddebtofWuhanJiachengthroughpubliclistingtoTianyuEnvironment.WithJune30,2023astheassetevaluationbenchmarkdate,theassessedvalueoftheshareholders’equityofWuhanJiachengisRMB45.325million.AsofDecember31,2023,thecompanyhasreceivedatotalofRMB16.936millionindebttransferpaymentsandnolessthan30%equitytransferpayments.AsthearticlesofassociationofWuhanJiachenghavenotbeenamended,theboardofdirectorshasnotbeenreelected,andthetransfereehasnotappointedseniormanagementpersonnelsuchasdirectorsandgeneralmanagers,thecompanystillcontrolsWuhanJiacheng.TheremainingequitytransferpaymentwasreceivedonMarch8,2024.Asofnow,ShenzhenCerealsHoldingsCo.,Ltd.hasreceivedallequity,debt,andrelatedinterest,andhascompletedtheequitydeliveryandcompanyhandoverprocedures.
(2)OthercontingenciesAsofDecember31,2023,therearenoothercontingenciesthatthecompanyshoulddisclose.
(2)IftheCompanyhasnoimportantcontingencyneedtodisclosed,explainreasonsTheCompanyhasnoimportantcontingencythatneedtodisclose.
1.OtherXVII.Eventsafterbalancesheetdate
1.Importantnon-adjustmentmatters
InRMB
| Item | Content | Impactonfinancialstatusandoperationresults | Reasonsoffailstoestimatetheimpact |
2.Profitdistribution
| Proposeddistributionofdividendsper10shares(yuan) | 2 |
| Dividendpayoutper10sharesdeclaredafterreviewandapproval(yuan) | 2 |
3.Salesreturn
4.Othereventsafterbalancesheetdate
OnDecember12,2023,duetotheconstructionneedsoftheinfrastructureprojectofRuhuWestParkinHuichengDistrict,HuizhouShenbaosignedacompensationagreementfortherecoveryofstate-ownedlanduserightswiththeHuichengDistrictNatural
ResourcesBureau.TheHuichengDistrictNaturalResourcesBureauofHuizhouCityimplementedanagreementtorecoverthe29,244.33squaremetersofstate-ownedlanduserightsofHuizhouShenbaolocatedinRuhuEastAsiaVillage,HuichengDistrict,retaining3637.67squaremetersoflandonthenortheastsideoutsidetheplannedroadrange.TheNaturalResourcesBureauofHuichengDistrict,HuizhouCitymadeaone-timepaymentofatotalof16.564millionyuaninlandcompensationtotheaccountofHuizhouShenbaobeforeFebruary29,2024.OnJanuary30,2024,HuizhouShenbaoreceivedtheaforementionedcompensationforlanduserightsfromtheNaturalResourcesBureauofHuichengDistrict,HuizhouCity.Asofnow,thelandownershiptransferprocedureisbeingprocessed.Thecompanytransferred51%oftheequityanddebtofWuhanJiachengthroughpubliclistingtoTianyuEnvironmen.WithJune30,2023astheassetevaluationbenchmarkdate,theassessedvalueoftheshareholders’equityofWuhanJiachengisRMB45.325million.AsofDecember31,2023,thecompanyhasreceivedatotalofRMB16.936millionindebttransferpaymentsandnolessthan30%equitytransferpayments.AsthearticlesofassociationofWuhanJiachenghavenotbeenamended,theboardofdirectorshasnotbeenreelected,andthetransfereehasnotappointedseniormanagementpersonnelsuchasdirectorsandgeneralmanagers,thecompanystillcontrolsWuhanJiacheng.TheremainingequitytransferpaymentwasreceivedonMarch8,2024.Asofnow,ShenzhenCerealsHoldingsCo.,Ltd.hasreceivedallequity,debt,andrelatedinterest,andhascompletedtheequitydeliveryandcompanyhandoverprocedures.Duetotheexpectedgrowthofglobalgrainproduction,sufficientinventoryandthecontinuousgrowthofdomesticgrainimports,asofthedateofthisfinancialreport,thecompany'simportedpricesofbarley,sorghumandothervarietiescontinuetofall,andthecompany'sinventorymaysufferimpairmentloss.XVIII.Otherimportantevents
1.Previousaccountingerrorscorrection
(1)Retrospectiverestatement
InRMB
| Contentofaccountingerrorcorrection | Procedures | Itemsimpactduringvarycomparativeperiod | Accumulatedimpact |
(2)Prospectiveapplication
| Contentofaccountingerrorcorrection | Approvalprocedure | Reasonsforadoptingtheprospectiveapplicablemethod |
2.Debtrestructuring
3.Assetsexchange
(1)Exchangeofnon-monetaryassets
(2)Otherassetsexchange
4.Pensionplan
5.Discontinuingoperation
InRMB
| Item | Revenue | Expenses | Totalprofit | Incometaxexpenses | Netprofit | Profitofdiscontinuingoperationattributabletoownersofparentcompany |
Otherexplanation
6.Branch
(1)Recognitionbasisandaccountingpolicyforreportablebranch
(2)Financialinformationforreportablebranch
InRMB
| Item | Offsetbetweenbranches | Total |
(3)ExplainreasonsincasetheCompanyhasnobranches,orisunabletodisclosetotalassetsandliabilitiesofsegments
(4)Otherexplanation
7.Othermajortransactionandeventsmakesinfluenceoninvestor’sdecision
8.Other
XIX.Notestomainitemsoffinancialstatementsofparentcompany
1.Accountreceivable
(1)Accountreceivableclassifiedbycategory
InRMB
| Aging | Endingbookbalance | Beginningbookbalance |
| Within1year(inclusive) | 65,714,145.99 | 87,190,258.27 |
| Over3years | 37,305.68 | 37,305.68 |
| 4-5years | 8,852.60 | |
| Over5years | 37,305.68 | 28,453.08 |
| Total | 65,751,451.67 | 87,227,563.95 |
(2)Accruedbaddebtprovision
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookvalue | Baddebtsreserve | Bookvalue | Bookvalue | Baddebtsreserve | Bookvalue | |||||
| Amount | Ratio | Amount | Accruedratio | Amount | Ratio | Amount | Accruedratio | |||
| Accountreceivablewith | 28,453.08 | 0.04% | 28,453.08 | 100.00% | 28,453.08 | 0.03% | 28,453.08 | 100.00% | ||
| baddebtprovisionaccrualonasinglebasis | ||||||||||
| Including: | ||||||||||
| Accountreceivablewithbaddebtprovisionaccrualonportfolio | 65,722,998.59 | 99.96% | 8,442.65 | 0.01% | 65,714,555.94 | 87,199,110.87 | 99.97% | 4,932.03 | 0.01% | 87,194,178.84 |
| Including: | ||||||||||
| Portfolioofsalesreceivable | 144,909.60 | 0.22% | 8,442.65 | 5.83% | 136,466.95 | 59,425.60 | 0.07% | 4,932.03 | 8.30% | 54,493.57 |
| Object-specificportfolio | 65,578,088.99 | 99.74% | 65,578,088.99 | 87,139,685.27 | 99.90% | 87,139,685.27 | ||||
| Total | 65,751,451.67 | 100.00% | 36,895.73 | 0.06% | 65,714,555.94 | 87,227,563.95 | 100.00% | 33,385.11 | 0.04% | 87,194,178.84 |
Accrualofbaddebtprovisiononsingleitem:
InRMB
| Name | Openingbalance | Endingbalance | ||||
| Bookbalance | Baddebtreserve | Bookbalance | Baddebtreserve | Accrualratio | Accrualreason | |
| Accrualofbaddebtprovisiononsingleitem: | 28,453.08 | 28,453.08 | 28,453.08 | 28,453.08 | 100.00% | Extremelowabilitytorecover |
| Total | 28,453.08 | 28,453.08 | 28,453.08 | 28,453.08 | ||
Makebaddebtreserveintermsofportfolio:portfolioofsalesreceivable
InRMB
| Name | Endingbalance | ||
| Bookbalance | Baddebtreserve | Accrualratio | |
| Portfolioofsalesreceivable | 144,909.60 | 8,442.65 | 5.83% |
| Object-specificportfolio | 144,909.60 | 8,442.65 | |
Explanationonthebasistodeterminesuchportfolio:
Accrualofbaddebtprovisiononportfolio:Object-specificportfolio
InRMB
| Name | Endingbalance | ||
| Bookbalance | Baddebtreserve | Accrualratio | |
| Object-specificportfolio | 65,578,088.99 | 0.00% | |
| Total | 65,578,088.99 | ||
Explanationonthebasistodeterminesuchportfolio:
Iftheprovisionforbaddebtsofaccountreceivableismadeinaccordancewiththegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
(3)Baddebtprovisionaccrued,collectedorreversal
Baddebtprovisionaccruedintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Written-off | Other | |||
| Baddebtprovisionofaccountreceivable | 33,385.11 | 3,510.62 | 36,895.73 | |||
| Total | 33,385.11 | 3,510.62 | 36,895.73 | |||
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
Otherexplanation:
(4)Accountreceivableactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajoraccountreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationonaccountreceivablechargedoff:
(5)Topfivereceivablesandcontractassetsatendingbalancebyarrearsparty
InRMB
| Enterprise | Endingbalanceofaccountreceivable | Endingbalanceofcontractassets | Endingbalanceofaccountreceivableandcontractassets | Ratiointotalendingbalanceofaccountreceivablesandcontractassets | Endingbalanceofbaddebtreservesforaccountreceivableandimpairmentreserveofcontractassets |
2.Otheraccountreceivable
InRMB
| Item | Endingbalance | Openingbalance |
| Otheraccountreceivable | 1,624,337,855.63 | 1,560,888,393.94 |
| Total | 1,624,337,855.63 | 1,560,888,393.94 |
(1)Interestreceivable
1)Bycategory
InRMB
| Item | Endingbalance | Openingbalance |
2)Importantoverdueinterest
| Borrower | Endingbalance | Overduetime | Overduecauses | Whetherimpairmentoccursanditsjudgmentbasis |
Otherexplanation:
3)Accruedbaddebtprovision
□Applicable?Notapplicable
4)Baddebtprovisionaccrued,collectedorreversal
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Chargedoff | Other | |||
| Baddebtprovision | ||||||
| Total | ||||||
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
Otherexplanation:
(5)Interestreceivableactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajorinterestreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationoninterestreceivablechargedoff:
Otherexplanation:
(2)Dividendreceivable
1)Category
InRMB
| Item(ortheinvestedentity) | Endingbalance | Openingbalance |
2)Importantdividendreceivablewithagingoveroneyear
InRMB
| Item(ortheinvestedentity) | Endingbalance | Accountage | Reasonsfornotcollection | Whetherimpairmentoccursanditsjudgmentbasis |
3)Accruedbaddebtprovision
□Applicable?Notapplicable
4)Baddebtprovisionaccrued,collectedorreversalBaddebtprovisionaccruedintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Chargedoff | Other | |||
| Baddebtprovision | ||||||
| Total | ||||||
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
Otherexplanation:
(5)Dividendreceivableactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajordividendreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationondividendreceivablechargedoff:
Otherexplanation:
(3)Otheraccountreceivable
1)Bynature
InRMB
| Nature | Endingbookbalance | Beginningbookbalance |
| Marginanddeposit | 1,000,000.00 | 1,054,999.00 |
| Otherintercoursefunds | 1,651,168,026.40 | 1,587,678,288.68 |
| Total | 1,652,168,026.40 | 1,588,733,287.68 |
2)Byaging
InRMB
| Aging | Endingbookbalance | Beginningbookbalance |
| Within1year(inclusive) | 314,162,982.64 | 1,563,188,883.33 |
| 1-2year | 1,312,629,466.00 | 49,999.00 |
| Over3years | 25,375,577.76 | 25,494,405.35 |
| 4-5years | 436,664.33 | |
| Over5years | 25,375,577.76 | 25,057,741.02 |
| Total | 1,652,168,026.40 | 1,588,733,287.68 |
3)Accruedbaddebtprovision
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtreserve | Bookvalue | Bookbalance | Baddebtreserve | Bookvalue | |||||
| Amount | Ratio | Amount | Accrualratio | Amount | Ratio | Amount | Accrualratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
| Including：expectedcombinationofcreditriskcharacteristics | ||||||||||
| Specificobjectportfolio | ||||||||||
Baddebtreserveismadebasedonthegeneralmodelofexpectedcreditlosses:
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceonJan.1,2023 | 213,626.85 | 27,631,266.89 | 27,844,893.74 | |
| BalanceonJan.1,2023intheperiod | ||||
| Currentreversal | 158.70 | 158.70 |
| Otherchange | -14,564.27 | -14,564.27 | ||
| BalanceonDec.31,2023 | 213,468.15 | 27,616,702.62 | 27,830,170.77 |
ClassificationbasisandbaddebtprovisionratioforeachstageChangesinbookbalancewithsignificantchangesinthecurrentperiod'sprovisionforlosses
□Applicable?Notapplicable
4)Baddebtprovisionaccrued,collectedorreversalBaddebtprovisionaccruedintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrued | Collectedorreversal | Chargedoff | Other | |||
| Baddebtprovisionofotheraccountreceivable | 27,844,893.74 | 158.70 | -14,564.27 | 27,830,170.77 | ||
| Total | 27,844,893.74 | 158.70 | -14,564.27 | 27,830,170.77 | ||
Importantbaddebtprovisioncollectedorreversal:
InRMB
| Enterprise | Collectedorreversal | Reasonforreversal | Mannerofreversal | Basisandrationalitytodefinetheaccruedratiooforiginalbaddebtsreserve |
Otherexplanation:
(5)Otheraccountreceivableactuallychargedoffintheperiod
Unit:RMB
| Item | Amountchargedoff |
Includingmajorotheraccountreceivablechargedoff:
Unit:RMB
| Enterprise | Nature | Amountchargedoff | Reasonforchargedoff | Procedureofchargedoff | Resultedbyrelatedtransaction(Y/N) |
Explanationonotheraccountreceivablechargedoff:
6)Top5accountsreceivableatendingbalancebyarrearsparty
InRMB
| Enterprise | Nature | Endingbalance | Aging | Proportionintotalotherreceivablesatendingbalance(%) | Endingbalanceofbaddebtreserve |
7)Thosebookedintootheraccountreceivablesduetocentralizedfundmanagement
InRMBOtherexplanation:
3.Long-termequityinvestment
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Investmentinsubsidiary | 4,032,344,425.09 | 5,500,000.00 | 4,026,844,425.09 | 4,039,319,425.09 | 5,500,000.00 | 4,033,819,425.09 |
| Investmentinjointventureandassociatedenterprise | 2,927,628.53 | 2,927,628.53 | 2,927,628.53 | 2,927,628.53 | ||
| Total | 4,035,272,053.62 | 8,427,628.53 | 4,026,844,425.09 | 4,042,247,053.62 | 8,427,628.53 | 4,033,819,425.09 |
(1)Investmentinsubsidiary
InRMB
| Investedentity | Openingbalance(bookvalue) | Beginningbalanceofimpairmentprovision | Currentchanges(+/-) | Endingbalance(bookvalue) | Endingbalanceofimpairmentprovision | |||
| Additionalinvestment | Capitalreduction | Accrualofimpairmentprovision | Other | |||||
| ShenzhenCerealsGroupCo.,Ltd | 3,291,415,036.82 | 3,291,415,036.82 | ||||||
| DongguanShenliangLogisticsCo.,Ltd. | 306,980,000.00 | 14,700,000.00 | 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 | 5,500,000.00 | 5,500,000.00 | ||||||
| ShenzhenShenliangFoodCo.,Ltd. | 80,520,842.36 | 80,520,842.36 | ||||||
| WuhanJiachengBiotechnolo | 21,675,000.00 | 21,675,000.00 | ||||||
| gyCo.,Ltd | |||||||
| Total | 4,033,819,425.09 | 5,500,000.00 | 14,700,000.00 | 21,675,000.00 | 4,026,844,425.09 | 5,500,000.00 |
(2)Investmentinassociatedenterprisesandjointventure
InRMB
| Investmentcompany | Openingbalance(bookvalue) | Openingbalanceofimpairmentprovision | Currentchanges(+,-) | Endingbalance(bookvalue) | Endingbalanceofimpairmentprovision | |||||||
| Additionalinvestment | Capitalreduction | Investmentgainsrecognizedunderequity | Othercomprehensiveincomeadjustment | Otherequitychange | Cashdividendorprofitannouncedtoissued | Accrualofimpairmentprovision | Other | |||||
| I.Jointventure | ||||||||||||
| II.Associatedenterprise | ||||||||||||
| ChangzhouShenbaoChacangE-businessCo.,Ltd. | ||||||||||||
| ShenzhenShenbao(Xinmin)FoodsCo.,Ltd | 2,870,000.00 | 2,870,000.00 | ||||||||||
| ShenzhenShenbao(Liaoyuan)IndustrialCompany | 57,628.53 | 57,628.53 | ||||||||||
| CRSanjiu | ||||||||||||
| ShenzhenTianjiOptoelectronicTechnologyCo.,Ltd | ||||||||||||
| Subtotal | 2,927,628.53 | 2,927,628.53 | ||||||||||
| Total | 2,927,628.53 | 2,927,628.53 | ||||||||||
Therecoverableamountisdeterminedbasedonthenetamountafterdeductingdisposalexpensesfromfairvalue?Applicable?NotapplicableTherecoverableamountisdeterminedbasedonthepresentvalueofexpectedfuturecashflows
□Applicable?Notapplicable
Reasonsforsignificantdiscrepanciesbetweentheaforementionedinformationandtheinformationorexternalinformationusedinpreviousyears'impairmenttestingReasonsforsignificantdiscrepanciesbetweentheinformationusedinthecompany'spreviousannualimpairmenttestsandtheactualsituationofthecurrentyear
(3)Otherexplanation
4.Operatingrevenueandoperatingcost
InRMB
| Item | Currentperiod | Lastperiod | ||
| Revenue | Cost | Revenue | Cost | |
| Mainbusiness | 156,272,744.29 | 203,896,997.77 | ||
| Otherbusiness | 275,218.36 | 471,590.28 | 183,215.14 | 471,590.28 |
| Total | 156,547,962.65 | 471,590.28 | 204,080,212.91 | 471,590.28 |
Breakdowninformationofoperatingincomeandoperatingcosts:
InRMB
| Contractcategory | Branch1 | Branch2 | Total | |||||
| Revenue | Cost | Revenue | Cost | Revenue | Cost | Revenue | Cost | |
| Businesstype | ||||||||
| Including: | ||||||||
Classificationbybusinessarea
| Classificationbybusinessarea |
| Including: |
Marketorcustomertype
| Marketorcustomertype |
| Including: |
Contracttypes
| Contracttypes |
| Including: |
Classificationbytimeofgoodstransfer
| Classificationbytimeofgoodstransfer |
| Including: |
Classificationbycontractduration
| Classificationbycontractduration |
| Including: |
Classificationbysaleschannel
| Classificationbysaleschannel |
| Including: |
Total
Informationrelatedtoperformingobligations:
| Item | Timeforperformanceobligations | Importantpaymentterms | Natureofthegoodspromisedtotransferbythecompany | Isitthemainresponsibleperson? | Theexpectedrefundstocustomersbornebythecompany | Thetypesofqualityassuranceprovidedbythecompanyandrelatedobligations |
OtherexplanationInformationrelatedtothetransactionpriceapportionedtotheremainingperformanceobligations:
Theamountofincomecorrespondingtoperformingobligationsthathavebeensignedattheendofthisreportingperiodbuthavenotyetbeenfulfilledorhavenotdonewithfulfillmentis0.00yuan,amongthem,0.00yuanofrevenueisexpectedtoberecognizedintheyearSignificantcontractchangesorsignificanttransactionpriceadjustments
| Item | Accountingtreatmentmethod | Impactonincome |
Otherexplanation:
5.Investmentincome
InRMB
| Item | CurrentPeriod | LastPeriod |
| Investmentincomefromdisposaloflong-termequityinvestment | 303,903,528.99 | 190,800,000.00 |
| Investmentincomeduringtheholdingperiodoftradablefinancialassets | 3,378,137.80 | 4,912,249.48 |
| Total | 307,281,666.79 | 195,712,249.48 |
6.Others
XX.Supplementaryinformation
1.Currentnon-recurringgains/losses
?Applicable□Notapplicable
InRMB
| Item | Amount | Note |
| Gains/lossesfromthedisposalofnon-currentasset(includingthewrite-offthataccruedforimpairmentofassets) | 2,394,378.42 | |
| Governmentalsubsidyreckonedintocurrentgains/losses(exceptforthosewithnormaloperationbusinessconcerned,andconformtothenationalpolicies®ulationsandareenjoyedaccordingtocertainstandard,andhavingacontinuousimpactonthecompany’sgains/losses) | 14,544,417.04 | |
| Exceptforeffectivehedgingbusinessrelatedtothenormaloperationofthecompany,gains/lossesarisingfromchangesinfairvalueoftradingfinancialassetsandtradingfinancialliabilitiesheldbynon-financialenterprises,aswellasinvestmentincomeobtainedfromdisposaloftradingfinancialassets,tradingfinancialliabilities,andavailableforsalefinancialassets | 182,701.67 | |
| Gains/lossesofassetsdelegationonothers’investmentormanagement | 6,622,492.60 | |
| Reversalofprovisionofimpairmentofaccountsreceivablewhicharetreatedwithseparatedepreciationtest | 679,204.22 | |
| Othernon-operatingincomeandexpenditureexceptfortheaforementioneditems | 644,754.74 | |
| Otherprofitandlossitemsthatmeetthedefinitionofnon-recurringprofitandloss | 5,027,939.98 | |
| Less:impactonincometax | 386,299.20 |
| Impactonminorityshareholders’equity(after-tax) | 19,653,709.51 | -- |
| Total |
Detailsofothergains/lossesitemsthatmeetsthedefinitionofnon-recurringgains/losses:
□Applicable?NotapplicableTheCompanyhasnoothergains/lossesitemsthatmeetthedefinitionofnon-recurringgains/losses.Explaintheitemsdefinedasnon-recurringgains/lossesaccordingtothelistsofnon-recurringgains/lossesinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---non-recurringgains/losses
□Applicable?Notapplicable
2.ROEandearningspershare
| Profitsduringreportingperiod | WeightedaverageROE | Earningspershare | |
| Basicearningspershare(RMB/Share) | Dilutedearningspershare(RMB/Share) | ||
| NetprofitsattributabletocommonstockstockholdersoftheCompany | 7.26% | 0.3018 | 0.3018 |
| NetprofitsattributabletocommonstockstockholdersoftheCompanyafterdeductingnon-recurringgainsandlosses | 6.85% | 0.2847 | 0.2847 |
3.DifferenceoftheaccountingdataunderaccountingrulesinandoutofChina
(1)Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothIAS(InternationalAccountingStandards)andChineseGAAP(GenerallyAcceptedAccountingPrinciples)
?Applicable?Notapplicable
(2)Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothforeignaccountingrulesandChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable?Notapplicable
(3)ExplanationondatadifferencesundertheaccountingstandardsinandoutofChina;asforthedifferencesadjustmentauditedbyforeignauditinginstitute,listednameoftheinstitute
4.Other