ShenzhenChinaBicycleCompany(Holdings)Limited
Semi-AnnualFinancialReport2025
August2025
I.AuditreportWhetherthesemi-annualreportisaudited
□Yes?NoThecompany'ssemi-annualfinancialreporthasnotbeenauditedII.FinancialStatementStatementinFinancialNotesarecarriedUnit:RMB/CNY
1.ConsolidatedBalanceSheetPreparedbyShenzhenChinaBicycleCompany(Holdings)Limited
June30,2025
InRMB
| Item | 2025-6-30 | 2025-1-1 |
| Currentassets: | ||
| Monetaryfund | 59,154,588.98 | 80,974,360.59 |
| Settlementprovisions | ||
| Capitallent | ||
| Tradingfinancialassets | ||
| Derivativefinancialassets | ||
| Notereceivable | ||
| Accountreceivable | 163,011,475.07 | 233,608,634.59 |
| Receivablefinancing | ||
| Accountspaidinadvance | 675,634.48 | 931,762.60 |
| Insurancereceivable | ||
| Reinsurancereceivables | ||
| Contractreserveofreinsurancereceivable | ||
| Otheraccountreceivable | 1,049,976.57 | 18,883,650.76 |
| Including:Interestreceivable | ||
| Dividendreceivable | ||
| Buyingbackthesaleoffinancialassets | ||
| Inventory | 243,632,693.54 | 84,349,675.00 |
| Including：Dataresources | ||
| Contractualassets | ||
| Assetsheldforsale | ||
| Non-currentassetduewithinoneyear | ||
| Othercurrentassets | 16,502,052.29 | 2,934,787.58 |
| Totalcurrentassets | 484,026,420.93 | 421,682,871.12 |
| Non-currentassets: | ||
| Loansandpaymentsonbehalf |
| Debtinvestment | ||
| Otherdebtinvestment | ||
| Long-termaccountreceivable | ||
| Long-termequityinvestment | 830,481.86 | 830,481.86 |
| Investmentinotherequityinstrument | ||
| Othernon-currentfinancialassets | ||
| Investmentrealestate | ||
| Fixassets | 2,772,051.24 | 2,931,163.10 |
| Constructioninprogress | ||
| Productivebiologicalasset | ||
| Oilandgasasset | ||
| Right-of-useassets | 3,214,017.90 | 3,836,085.90 |
| Intangibleassets | ||
| Including：Dataresources | ||
| ExpenseonResearchandDevelopment | ||
| Including：Dataresources | ||
| Goodwill | ||
| Long-termexpensestobeapportioned | ||
| Deferredincometaxasset | 5,388,150.89 | 5,171,495.77 |
| Othernon-currentasset | ||
| Totalnon-currentasset | 12,204,701.89 | 12,769,226.63 |
| Totalassets | 496,231,122.82 | 434,452,097.75 |
| Currentliabilities: | ||
| Short-termloans | 24,250,000.00 | 9,900,000.00 |
| Loanfromcentralbank | ||
| Capitalborrowed | ||
| Tradingfinancialliability | ||
| Derivativefinancialliability | ||
| Notepayable | ||
| Accountpayable | 12,557,961.31 | 7,636,699.51 |
| Accountsreceivedinadvance | ||
| Contractliability | 31,118,466.86 | 4,868,279.05 |
| Sellingfinancialassetofrepurchase | ||
| Absorbingdepositandinterbankdeposit | ||
| Securitytradingofagency | ||
| Securitysalesofagency | ||
| Wagepayable | 1,910,451.28 | 807,688.20 |
| Taxespayable | 3,888,428.69 | 4,490,392.21 |
| Otheraccountpayable | 42,624,165.17 | 33,704,488.43 |
| Including:Interestpayable | ||
| Dividendpayable | ||
| Commissionchargeandcommissionpayable | ||
| Reinsurancepayable | ||
| Liabilityheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | 1,438,146.75 | 1,389,819.85 |
| Othercurrentliabilities | 4,039,410.62 | 302,687.60 |
| Totalcurrentliabilities | 121,827,030.68 | 63,100,054.85 |
| Non-currentliabilities: | ||
| Insurancecontractreserve | ||
| Long-termloans | ||
| Bondspayable | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Leaseliability | 2,799,531.44 | 3,212,882.77 |
| Long-termaccountpayable | ||
| Long-termwagespayable | ||
| Accrualliability | ||
| Deferredincome | ||
| Deferredincometaxliabilities | ||
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 2,799,531.44 | 3,212,882.77 |
| Totalliabilities | 124,626,562.12 | 66,312,937.62 |
| Owner’sequity: | ||
| Sharecapital | 689,184,933.00 | 689,184,933.00 |
| Otherequityinstrument | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Capitalpublicreserve | 797,709,204.77 | 797,709,204.77 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | -434,799.12 | |
| Reasonablereserve | ||
| Surpluspublicreserve | 32,673,227.01 | 32,673,227.01 |
| Provisionofgeneralrisk | ||
| Retainedprofit | -1,157,235,340.98 | -1,175,806,118.62 |
| Totalowner’sequityattributabletoparentcompany | 361,897,224.68 | 343,761,246.16 |
| Minorityinterests | 9,707,336.02 | 24,377,913.97 |
| Totalowner’sequity | 371,604,560.70 | 368,139,160.13 |
| Totalliabilitiesandowner’sequity | 496,231,122.82 | 434,452,097.75 |
LegalRepresentative:WangShenghongPersoninchargeofAccountingWorks:SunLonglongPersoninchargeofAccountingInstitution:SheHanxing
2.BalanceSheetofParentCompany
InRMB
| Item | 2025-6-30 | 2025-1-1 |
| Currentassets: | ||
| Monetaryfund | 44,125,370.86 | 43,100,182.78 |
| Tradingfinancialassets | ||
| Derivativefinancialassets | ||
| Notereceivable | ||
| Accountreceivable | 109,918,903.48 | 96,617,648.86 |
| Receivablefinancing | ||
| Accountspaidinadvance | 33,516.36 | 38,433.55 |
| Otheraccountreceivable | 54,082,886.47 | 59,769,403.49 |
| Including:Interestreceivable | ||
| Dividendreceivable | ||
| Inventory | 76,255,293.40 | 48,492,400.18 |
| Including：Dataresources | ||
| Contractualassets | ||
| Assetsheldforsale | ||
| Non-currentassetduewithinoneyear | ||
| Othercurrentassets | 2,329,307.37 | 410,718.01 |
| Totalcurrentassets | 286,745,277.94 | 248,428,786.87 |
| Non-currentassets: | ||
| Debtinvestment | ||
| Otherdebtinvestment | ||
| Long-termaccountreceivable | ||
| Long-termequityinvestment | 147,696,069.73 | 126,995,379.73 |
| Investmentinotherequityinstrument | ||
| Othernon-currentfinancialassets | ||
| Investmentrealestate | ||
| Fixassets | 2,333,026.58 | 2,455,032.62 |
| Constructioninprogress | ||
| Productivebiologicalasset | ||
| Oilandgasasset | ||
| Right-of-useassets | ||
| Intangibleassets | ||
| Including：Dataresources | ||
| ExpenseonResearchandDevelopment | ||
| Including：Dataresources | ||
| Goodwill | ||
| Long-termexpensestobeapportioned | ||
| Deferredincometaxasset | 4,929,575.69 | 4,747,908.10 |
| Othernon-currentasset | ||
| Totalnon-currentasset | 154,958,672.00 | 134,198,320.45 |
| Totalassets | 441,703,949.94 | 382,627,107.32 |
| Currentliabilities: | ||
| Short-termloans | 19,300,000.00 | 9,900,000.00 |
| Tradingfinancialliability | ||
| Derivativefinancialliability | ||
| Notepayable | ||
| Accountpayable | 535,614.48 | 943,733.90 |
| Accountsreceivedinadvance | ||
| Contractliability | 31,072,389.38 | 3,539,823.01 |
| Wagepayable | 863,399.87 | 429,873.60 |
| Taxespayable | 1,375,304.55 | 1,623,423.76 |
| Otheraccountpayable | 38,731,576.91 | 26,994,291.79 |
| Including:Interestpayable | ||
| Dividendpayable | ||
| Liabilityheldforsale |
| Non-currentliabilitiesduewithinoneyear | ||
| Othercurrentliabilities | 4,039,410.62 | 460,176.99 |
| Totalcurrentliabilities | 95,917,695.81 | 43,891,323.05 |
| Non-currentliabilities: | ||
| Long-termloans | ||
| Bondspayable | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Leaseliability | ||
| Long-termaccountpayable | ||
| Long-termwagespayable | ||
| Accrualliability | ||
| Deferredincome | ||
| Deferredincometaxliabilities | ||
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | ||
| Totalliabilities | 95,917,695.81 | 43,891,323.05 |
| Owner’sequity: | ||
| Sharecapital | 689,184,933.00 | 689,184,933.00 |
| Otherequityinstrument | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Capitalpublicreserve | 809,077,277.12 | 809,077,277.12 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | ||
| Reasonablereserve | ||
| Surpluspublicreserve | 32,673,227.01 | 32,673,227.01 |
| Retainedprofit | -1,185,149,183.00 | -1,192,199,652.86 |
| Totalowner’sequity | 345,786,254.13 | 338,735,784.27 |
| Totalliabilitiesandowner’sequity | 441,703,949.94 | 382,627,107.32 |
3.ConsolidatedProfitStatement
InRMB
| Item | Semi-annualof2025 | Semi-annualof2024 |
| I.Totaloperationrevenue | 319,943,616.63 | 213,499,597.25 |
| Including:Operationrevenue | 319,943,616.63 | 213,499,597.25 |
| Interestincome | ||
| Insurancegained | ||
| Commissionchargeandcommissionincome | ||
| II.Totaloperationcost | 296,194,628.18 | 207,306,438.18 |
| Including:Operationcost | 285,089,133.54 | 200,995,029.52 |
| Interestexpense | ||
| Commissionchargeandcommissionexpense | ||
| Cashsurrendervalue | ||
| Netamountofexpenseofcompensation | ||
| Netamountofwithdrawalofinsurance |
| contractreserve | ||
| Bonusexpenseofguaranteeslip | ||
| Reinsuranceexpense | ||
| Taxandsurcharge | 249,823.72 | 151,502.35 |
| Salesexpenses | 3,955,043.06 | 1,778,393.48 |
| Administrationexpenses | 6,158,206.48 | 3,928,458.71 |
| R&Dexpenses | 484,358.77 | 454,213.62 |
| Financeexpenses | 258,062.61 | -1,159.50 |
| Including:Interestexpenses | 176,043.87 | 25,397.71 |
| Interestincome | 5,679.08 | 60,794.91 |
| Add:Otherincome | ||
| Investmentincome(Lossislistedwith“-”) | ||
| Including:Investmentincomeonaffiliatedcompanyandjointventure | ||
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost | ||
| Exchangeincome(Lossislistedwith“-”) | -36.52 | |
| Netexposurehedgingincome(Lossislistedwith“-”) | ||
| Incomefromchangeoffairvalue(Lossislistedwith“-”) | ||
| Lossofcreditimpairment(Lossislistedwith“-”) | -606,085.62 | 254,919.43 |
| Impairmentlossonassets(Lossislistedwith“-”) | 8,123.50 | |
| Incomefromassetsdisposal(Lossislistedwith“-”) | ||
| III.Operationprofit(Lossislistedwith“-”) | 23,142,866.31 | 6,456,202.00 |
| Add:Non-operatingincome | 840,630.92 | 1,240,262.87 |
| Less:Non-operatingexpense | 1,763.71 | 60,128.00 |
| IV.Totalprofit(Lossislistedwith“-”) | 23,981,733.52 | 7,636,336.87 |
| Less:Incometaxexpenses | 5,056,533.83 | 2,128,307.99 |
| V.Netprofit(Netlossislistedwith“-”) | 18,925,199.69 | 5,508,028.88 |
| (i)Classifybybusinesscontinuity | ||
| 1.Continuousoperatingnetprofit(netlosslistedwith‘-”) | 18,925,199.69 | 5,508,028.88 |
| 2.Terminationofnetprofit(netlosslistedwith‘-”) | ||
| (ii)Classifybyownership | ||
| 1.Netprofitattributabletoshareholdersofparentcompany(netlosslistedwith‘-”) | 18,570,777.64 | 5,717,642.69 |
| 2.Minorityshareholders’gainsandlosses(netlosslistedwith‘-”) | 354,422.05 | -209,613.81 |
| VI.Netothercomprehensiveincomeaftertaxation | -434,799.12 | |
| Netothercomprehensiveincomeattributabletoownersofparentcompanyaftertaxation | -434,799.12 | |
| (i)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss |
| 1.Changesofthedefinedbenefitplansthatre-measured | ||
| 2.Othercomprehensiveincomeunderequitymethodthatcannotbetransfertogain/loss | ||
| 3.Changeoffairvalueofinvestmentinotherequityinstrument | ||
| 4.Fairvaluechangeofenterprise'screditrisk | ||
| 5.Other | ||
| (ii)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss | -434,799.12 | |
| 1.Othercomprehensiveincomeunderequitymethodthatcantransfertogain/loss | ||
| 2.Changeoffairvalueofotherdebtinvestment | ||
| 3.Amountoffinancialassetsre-classifytoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionforotherdebtinvestment | ||
| 5.Cashflowhedgingreserve | ||
| 6.Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements | -434,799.12 | |
| 7.Other | ||
| Netothercomprehensiveincomeattributabletominorityshareholdersaftertaxation | ||
| VII.Totalcomprehensiveincome | 18,490,400.57 | 5,508,028.88 |
| TotalcomprehensiveincomeattributabletoownersofparentCompany | 18,135,978.52 | 5,717,642.69 |
| Totalcomprehensiveincomeattributabletominorityshareholders | 354,422.05 | -209,613.81 |
| VIII.Earningspershare: | ||
| (i)BasicEPS | 0.0269 | 0.0083 |
| (ii)DilutedEPS | 0.0269 | 0.0083 |
Asfortheenterprisecombinedunderthesamecontrol,netprofitof0.00Yuanachievedbythemergedpartybeforecombinationwhile0.00Yuanachievedlastperiod.LegalRepresentative:WangShenghongPersoninchargeofAccountingWorks:SunLonglongPersoninchargeofAccountingInstitution:SheHanxing
4.ProfitStatementofParentCompany
InRMB
| Item | Semi-annualof2025 | Semi-annualof2024 |
| I.Operationrevenue | 154,121,043.85 | 42,842,025.55 |
| Less:Operationcost | 140,923,708.46 | 37,134,145.84 |
| Taxandsurcharge | 122,000.73 | 31,409.40 |
| Salesexpenses | 171,516.00 | 42,828.78 |
| Administrationexpenses | 3,477,287.62 | 1,986,875.83 |
| R&Dexpenses | 186,604.92 | 224,047.20 |
| Financeexpenses | 167,981.11 | 957.31 |
| Including:Interestexpenses | 165,003.87 | |
| Interestincome | 3,111.42 | 5,696.20 |
| Add:Otherincome | ||
| Investmentincome(Lossislistedwith“-”) | ||
| Including:Investmentincomeonaffiliatedcompanyandjointventure | ||
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost(Lossislistedwith“-”) | ||
| Netexposurehedgingincome(Lossislistedwith“-”) | ||
| Incomefromchangeoffairvalue(Lossislistedwith“-”) | ||
| Lossofcreditimpairment(Lossislistedwith“-”) | -726,670.38 | 290,961.03 |
| Impairmentlossonassets(Lossislistedwith“-”) | ||
| Incomefromassetsdisposal(Lossislistedwith“-”) | ||
| II.Operationprofit(Lossislistedwith“-”) | 8,345,274.63 | 3,712,722.22 |
| Add:Non-operatingincome | 775,487.01 | 1,200,994.87 |
| Less:Non-operatingexpense | 1,079.13 | 56,908.19 |
| III.Totalprofit(Totallossesarelistedwith“-”) | 9,119,682.51 | 4,856,808.90 |
| Less:Incometaxexpenses | 2,069,212.65 | 1,244,675.16 |
| IV.Netprofit(Netlossislistedwith“-”) | 7,050,469.86 | 3,612,133.74 |
| (i)Continuousoperatingnetprofit(netlosslistedwith‘-”) | 7,050,469.86 | 3,612,133.74 |
| (ii)Terminationofnetprofit(netlosslistedwith‘-”) | ||
| V.Netothercomprehensiveincomeaftertaxation | ||
| (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.Translationdifferencesarisingontranslationofforeigncurrencyfinancial |
| statements | ||
| 7.Other | ||
| VI.Totalcomprehensiveincome | 7,050,469.86 | 3,612,133.74 |
| VII.Earningspershare: | ||
| (i)BasicEPS | ||
| (ii)DilutedEPS |
5.ConsolidatedCashFlowStatement
InRMB
| Item | Semi-annualof2025 | Semi-annualof2024 |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 453,006,079.49 | 208,540,289.21 |
| Netincreaseofcustomerdepositandinterbankdeposit | ||
| Netincreaseofloanfromcentralbank | ||
| Netincreaseofcapitalborrowedfromotherfinancialinstitution | ||
| Cashreceivedfromoriginalinsurancecontractfee | ||
| Netcashreceivedfromreinsurancebusiness | ||
| Netincreaseofinsuredsavingsandinvestment | ||
| Cashreceivedfrominterest,commissionchargeandcommission | ||
| Netincreaseofcapitalborrowed | ||
| Netincreaseofcapitalfromrepurchasebusiness | ||
| Netcashreceivedbyagentsinsaleandpurchaseofsecurities | ||
| Write-backoftaxreceived | ||
| Othercashreceivedconcerningoperatingactivities | 21,041,416.67 | 12,931,342.09 |
| Subtotalofcashin-flowarisingfromoperationactivity | 474,047,496.16 | 221,471,631.30 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | 489,626,365.63 | 257,584,685.85 |
| Netincreaseofcustomerloansandadvances | ||
| Netincreaseofdepositsincentralbankandinterbank | ||
| Cashpaidfororiginalinsurancecontractcompensation | ||
| Netincreaseofcapitallent | ||
| Cashpaidforinterest,handlingchargeandcommission | ||
| Cashpaidforbonusofguaranteeslip | ||
| Cashpaidto/forstaff | 5,325,697.91 | 4,191,369.89 |
| Taxespaid | 6,578,622.20 | 6,814,606.57 |
| Othercashpaidconcerningoperatingactivities | 11,020,232.91 | 4,209,777.81 |
| Subtotalofcashout-flowarisingfromoperationactivity | 512,550,918.65 | 272,800,440.12 |
| Netcashflowarisingfromoperatingactivities | -38,503,422.49 | -51,328,808.82 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | ||
| Cashreceivedfrominvestmentincome | ||
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | ||
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | ||
| Othercashreceivedconcerninginvestingactivities | ||
| Subtotalofcashin-flowarisingfrominvestmentactivity | ||
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 10,358.00 | 38,793.99 |
| Cashpaidforinvestment | 30,000.00 | |
| Netincreaseofmortgagedloans | ||
| Netcashreceivedfromsubsidiariesandotherunitsobtained | ||
| Othercashpaidconcerninginvestingactivities | ||
| Subtotalofcashout-flowarisingfrominvestmentactivity | 10,358.00 | 68,793.99 |
| Netcashflowarisingfrominvestmentactivities | -10,358.00 | -68,793.99 |
| III.Cashflowsarisingfromfinancingactivities: | ||
| Cashreceivedfromabsorbinginvestment | 9,750,000.00 | |
| Including:Cashreceivedfromabsorbingminorityshareholders’investmentbysubsidiaries | ||
| Cashreceivedfromloans | 15,000,000.00 | |
| Othercashreceivedconcerningfinancingactivities | 18,154,754.41 | 12,098,051.76 |
| Subtotalofcashin-flowarisingfromfinancingactivity | 33,154,754.41 | 21,848,051.76 |
| Cashpaidforsettlingdebts | 650,000.00 | |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 176,043.87 | |
| Including:Dividendandprofitofminorityshareholderpaidbysubsidiaries | ||
| Othercashpaidconcerningfinancingactivities | 15,025,000.00 | |
| Subtotalofcashout-flowarisingfromfinancingactivity | 15,851,043.87 | |
| Netcashflowarisingfromfinancingactivities | 17,303,710.54 | 21,848,051.76 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | -434,835.64 | |
| V.Netincreaseofcashandcashequivalent | -21,644,905.59 | -29,549,551.05 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 80,799,494.57 | 54,148,674.40 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 59,154,588.98 | 24,599,123.35 |
6.CashFlowStatementofParentCompany
InRMB
| Item | Semi-annualof2025 | Semi-annualof2024 |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 190,591,512.21 | 159,622,320.49 |
| Write-backoftaxreceived | ||
| Othercashreceivedconcerningoperatingactivities | 35,715,006.34 | 32,892,557.22 |
| Subtotalofcashinflowarisingfromoperatingactivities | 226,306,518.55 | 192,514,877.71 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | 190,494,579.90 | 22,193,155.15 |
| Cashpaidto/forstaffandworkers | 2,193,743.44 | 2,061,971.12 |
| Taxespaid | 2,657,025.08 | 5,466,087.76 |
| Othercashpaidconcerningoperatingactivities | 36,625,042.59 | 169,094,699.79 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 231,970,391.01 | 198,815,913.82 |
| Netcashflowarisingfromoperatingactivities | -5,663,872.46 | -6,301,036.11 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | ||
| Cashreceivedfrominvestmentincome | ||
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | ||
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | ||
| Othercashreceivedconcerninginvestingactivities | ||
| Subtotalofcashinflowfrominvestingactivities | ||
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | ||
| Cashpaidforinvestment | 20,700,690.00 | 5,250,000.00 |
| Netcashreceivedfromsubsidiariesandotherunitsobtained | ||
| Othercashpaidconcerninginvestingactivities | ||
| Subtotalofcashoutflowfrominvestingactivities | 20,700,690.00 | 5,250,000.00 |
| Netcashflowarisingfrominvestmentactivities | -20,700,690.00 | -5,250,000.00 |
| III.Cashflowsarisingfromfinancingactivities: | ||
| Cashreceivedfromabsorbinginvestment | ||
| Cashreceivedfromloans | 10,000,000.00 | |
| Othercashreceivedconcerningfinancingactivities | 18,154,754.41 | 12,098,051.76 |
| Subtotalofcashinflowfromfinancingactivities | 28,154,754.41 | 12,098,051.76 |
| Cashpaidforsettlingdebts | 600,000.00 | |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 165,003.87 | |
| Othercashpaidconcerningfinancingactivities | ||
| Subtotalofcashoutflowfromfinancingactivities | 765,003.87 | |
| Netcashflowarisingfromfinancingactivities | 27,389,750.54 | 12,098,051.76 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | ||
| V.Netincreaseofcashandcashequivalents | 1,025,188.08 | 547,015.65 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 43,100,182.78 | 13,378,843.17 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 44,125,370.86 | 13,925,858.82 |
7.StatementofChangesinOwners’Equity(Consolidated)CurrentAmount
InRMB
| Item | Semi-annualof2025 | ||||||||||||||
| Owners’equityattributabletotheparentCompany | Minorityinterests | Totalowner’sequity | |||||||||||||
| Sharecapital | Otherequityinstrument | Capitalpublicreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surpluspublicreserve | Provisionofgeneralrisk | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Perpetualcapitalsecurities | Other | |||||||||||||
| I.Theendingbalanceofthepreviousyear | 689,184,933.00 | 797,709,204.77 | 32,673,227.01 | -1,175,806,118.62 | 343,761,246.16 | 24,377,913.97 | 368,139,160.13 | ||||||||
| Add:Changesofaccountingpolicy | |||||||||||||||
| Errorcorrectionofthelastperiod | |||||||||||||||
| Other | |||||||||||||||
| II.Thebeginningbalanceofthecurrentyear | 689,184,933.00 | 797,709,204.77 | 32,673,227.01 | -1,175,806,118.62 | 343,761,246.16 | 24,377,913.97 | 368,139,160.13 | ||||||||
| III.Increase/Decreaseintheperiod(Decreaseislistedwith“-”) | -434,799.12 | 18,570,777.64 | 18,135,978.52 | -14,670,577.95 | 3,465,400.57 | ||||||||||
| (i)Totalcomprehensiveincome | -434,799.12 | 18,570,777.64 | 18,135,978.52 | 354,422.05 | 18,490,400.57 | ||||||||||
| (ii)Owners’devotedand | - | - | |||||||||||||
| decreasedcapital | 15,025,000.00 | 15,025,000.00 | |
| 1.Commonsharesinvestedbyshareholders | -15,025,000.00 | -15,025,000.00 | |
| 2.Capitalinvestedbyholdersofotherequityinstruments | |||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | |||
| 4.Other | |||
| (iii)Profitdistribution | |||
| 1.Withdrawalofsurplusreserves | |||
| 2.Withdrawalofgeneralriskprovisions | |||
| 3.Distributionforowners(orshareholders) | |||
| 4.Other | |||
| (iv)Carryingforwardinternalowners’equity | |||
| 1.Capitalreservesconversedto |
| capital(sharecapital) | |||||||||||||
| 2.Surplusreservesconversedtocapital(sharecapital) | |||||||||||||
| 3.Remedyinglosswithsurplusreserve | |||||||||||||
| 4.Carry-overretainedearningsfromthedefinedbenefitplans | |||||||||||||
| 5.Carry-overretainedearningsfromothercomprehensiveincome | |||||||||||||
| 6.Other | |||||||||||||
| (v)Reasonablereserve | |||||||||||||
| 1.Withdrawalinthereportperiod | |||||||||||||
| 2.Usageinthereportperiod | |||||||||||||
| (vi)Others | |||||||||||||
| IV.Balanceattheendoftheperiod | 689,184,933.00 | 797,709,204.77 | -434,799.12 | 32,673,227.01 | -1,157,235,340.98 | 361,897,224.68 | 9,707,336.02 | 371,604,560.70 |
Amountofthepreviousperiod
InRMB
| Item | Semi-annualof2024 | ||||||||||||||
| Owners’equityattributabletotheparentCompany | Minorityinterests | Totalowner’sequity | |||||||||||||
| Sharecapital | Otherequityinstrument | Capitalpublicreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surpluspublicreserve | Provisionofgeneralrisk | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Perpetualcapitalsecurities | Other | |||||||||||||
| I.Theendingbalanceofthepreviousyear | 689,184,933.00 | 779,554,450.36 | 32,673,227.01 | -1,192,651,364.21 | 308,761,246.16 | 639,908.03 | 309,401,154.19 | ||||||||
| Add:Changesofaccountingpolicy | |||||||||||||||
| Errorcorrectionofthelastperiod | |||||||||||||||
| Other | |||||||||||||||
| II.Thebeginningbalanceofthecurrentyear | 689,184,933.00 | 779,554,450.36 | 32,673,227.01 | -1,192,651,364.21 | 308,761,246.16 | 639,908.03 | 309,401,154.19 | ||||||||
| III.Increase/Decreaseintheperiod(Decreaseislistedwith“-”) | 5,717,642.69 | 5,717,642.69 | 9,540,386.19 | 15,258,028.88 | |||||||||||
| (i)Totalcomprehen | 5,717,642.6 | 5,717,642. | - | 5,508,028. | |||||||||||
| siveincome | 9 | 69 | 209,613.81 | 88 | ||
| (ii)Owners’devotedanddecreasedcapital | 9,750,000.00 | 9,750,000.00 | ||||
| 1.Commonsharesinvestedbyshareholders | 9,750,000.00 | 9,750,000.00 | ||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||
| 4.Other | ||||||
| (iii)Profitdistribution | ||||||
| 1.Withdrawalofsurplusreserves | ||||||
| 2.Withdrawalofgeneralriskprovisions | ||||||
| 3.Distributio |
| nforowners(orshareholders) |
| 4.Other |
| (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.Balanceattheendoftheperiod | 689,184,933.00 | 779,554,450.36 | 32,673,227.01 | -1,186,933,721.52 | 314,478,888.85 | 10,180,294.22 | 324,659,183.07 |
8.StatementofChangesinOwners’Equity(ParentCompany)CurrentAmount
InRMB
| Item | Semi-annualof2025 | |||||||||||
| Sharecapital | Otherequityinstrument | Capitalpublicreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surpluspublicreserve | Retainedprofit | Other | Totalowner’sequity | |||
| Preferredstock | Perpetualcapitalsecurities | Other | ||||||||||
| I.Theendingbalanceofthepreviousyear | 689,184,933.00 | 809,077,277.12 | 32,673,227.01 | -1,192,199,652.86 | 338,735,784.27 | |||||||
| Add:Changesofaccountingpolicy | ||||||||||||
| Errorcorrectionof | ||||||||||||
| thelastperiod | ||||||||
| Other | ||||||||
| II.Thebeginningbalanceofthecurrentyear | 689,184,933.00 | 809,077,277.12 | 32,673,227.01 | -1,192,199,652.86 | 338,735,784.27 | |||
| III.Increase/Decreaseintheperiod(Decreaseislistedwith“-”) | 7,050,469.86 | 7,050,469.86 | ||||||
| (i)Totalcomprehensiveincome | 7,050,469.86 | 7,050,469.86 | ||||||
| (ii)Owners’devotedanddecreasedcapital | ||||||||
| 1.Commonsharesinvestedbyshareholders | ||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||||
| 4.Other | ||||||||
| (iii)Profitdistribution | ||||||||
| 1.Withdrawalofsurplusreserves | ||||||||
| 2.Distributionforowners(orshareholders) | ||||||||
| 3.Other |
| (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.Balanceattheendoftheperiod | 689,184,933.00 | 809,077,277.12 | 32,673,227.01 | -1,185,149,183.00 | 345,786,254.13 |
Amountofthepreviousperiod
InRMB
| Item | Semi-annualof2024 | |||||||||||
| Sharecapital | Otherequityinstrument | Capitalpublicreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surpluspublicreserve | Retainedprofit | Other | Totalowner’sequity | |||
| Preferredstock | Perpetualcapitalsecurities | Other | ||||||||||
| I.Theendingbalanceofthepreviousyear | 689,184,933.00 | 790,922,522.71 | 32,673,227.01 | -1,201,229,611.79 | 311,551,070.93 | |||||||
| Add:Changesofaccountingpolicy | ||||||||||||
| Errorcorrectionofthelastperiod | ||||||||||||
| Other | ||||||||||||
| II.Thebeginningbalanceofthecurrentyear | 689,184,933.00 | 790,922,522.71 | 32,673,227.01 | -1,201,229,611.79 | 311,551,070.93 | |||||||
| III.Increase/Decreaseintheperiod(Decreaseislistedwith“-”) | 3,612,133.74 | 3,612,133.74 | ||||||||||
| (i)Totalcomprehensiveincome | 3,612,133.74 | 3,612,133.74 | ||||||||||
| (ii)Owners’devotedanddecreasedcapital | ||||||||||||
| 1.Commonsharesinvestedbyshareholders | ||||||||||||
| 2.Capitalinvestedbyholdersof | ||||||||||||
| otherequityinstruments |
| 3.Amountreckonedintoownersequitywithshare-basedpayment |
| 4.Other |
| (iii)Profitdistribution |
| 1.Withdrawalofsurplusreserves |
| 2.Distributionforowners(orshareholders) |
| 3.Other |
| (iv)Carryingforwardinternalowners’equity |
| 1.Capitalreservesconversedtocapital(sharecapital) |
| 2.Surplusreservesconversedtocapital(sharecapital) |
| 3.Remedyinglosswithsurplusreserve |
| 4.Carry-overretainedearningsfromthedefinedbenefitplans |
| 5.Carry-overretainedearningsfromother |
| comprehensiveincome | ||||||||
| 6.Other | ||||||||
| (v)Reasonablereserve | ||||||||
| 1.Withdrawalinthereportperiod | ||||||||
| 2.Usageinthereportperiod | ||||||||
| (vi)Others | ||||||||
| IV.Balanceattheendoftheperiod | 689,184,933.00 | 790,922,522.71 | 32,673,227.01 | -1,197,617,478.05 | 315,163,204.67 |
III.Basicinformation
1.CompanyProfileAccordingtotheApprovalDocumentSFBF(1991)No.888issuedbythePeople’sGovernmentofShenzhen,ShenzhenChinaBicycleCompany(Holdings)Co.,Ltd.(hereinafterreferredtoastheCBC)wasreincorporatedasthecompanylimitedbysharesinNovember1991.On28December1991,upontheApprovalDocumentSRYFZ(1991)No.119issuedbyShenzhenSpecialEconomicZoneBranchofthePeople’sBankofChina,theCompanygotlistedonShenzhenStockExchange.RegisteredoftheCompanyamountedas689,184,933.00Yuan.Legalrepresentative:WangShenghongLocation:No.3008,BuxinRoad,LuohuDistrict,ShenzhenOfficeaddress:8/FShuibeiJinzuoBuilding,No.89BeiliNorthRoad,CuizhuStreet,LuohuDistrict,Shenzhen
CertificateforUniformSocialCreditCode:914403006188304524。
2.BusinessnatureandmainoperationactivitiesMainbusinessactivities:Research&developmentofthebicycles,electricbicycles,electricmotorcycles,motorcycles,electrictricycles,electricfour-wheeler,children'sbicycles,exercisebikes,sportsequipment,mechanicalproducts,toys,electrictoys,electronicproducts,newenergyequipmentandstorageequipment(lithiumbatteries,batteries,etc.),householdappliancesandspareparts,andelectroniccomponents;wholesale,retail,importandexportandrelatedsupportingbusinessofabove-mentionedproducts(excludingcommoditiessubjecttostatetrademanagement,handlingtheapplicationaccordingtotherelevantnationalregulationsforcommoditiesinvolvingquotas,licensemanagementandotherspecialprovisionsandmanagement,);finechemicalproducts(excludingdangerousgoods),wholesaleandretailofcarbonfibercompositematerials;technologydevelopmentofcomputersoftware,transferofself-developedtechnologicalachievements,andprovidingrelevanttechnicalinformationconsultation;ownpropertyleasing;propertymanagement.(Theaboveprojectsdonotinvolvespecialadministrativemeasuresfortheimplementationaccessofnationalregulations,andthoseinvolvingrestrictedprojectsandpre-existingadministrativelicensesmustobtainthepre-existingadministrativelicensingdocumentsbeforeoperation.)Purchaseandsaleofgoldproducts,platinumjewelry,palladiumjewelry,K-goldjewelry,silverjewelry,inlaidjewelry,jewelry,jadeware,gem-and-jadeproducts,clocksandwatches,preciousmetalmaterials,diamonds,jadeite,crafts(exceptivoryanditsproducts),calligraphyandpainting,collection(exceptforantiques,culturalrelics,anditemsprohibitedbynationallawsandadministrativeregulations).Mainproductsorservicescurrentlyofferedare:Goldjewelry,EMMELLEbicyclesandelectricalbicycles,lithiumbatterymaterial.
3.ActualcontrolleroftheCompanyActualcontrolleroftheCompanyisWangShenghong,ThecontrollingshareholderisWanshengIndustrialHolding(Shenzhen)Co.,Ltd.,whoheldorcontrolled20%sharesoftheCompany.
4.ReleaseofthefinancialreportTheFinancialReportwasapprovedtoreportatthe20
thSessionof11
th
BODofCBConAugust15,2025.
IV.CompilationBasisofFinancialStatement
1.CompilationBasis
Onthebasisofgoingconcern,theCompanyrecognizesandmeasuresaccordingtotheactualtransactionsandevents,theAccountingStandardsforBusinessEnterprises-BasicStandardsandotherspecificaccountingstandards,applicationguidelines,standardinterpretationandotherrelevantprovisions(hereinafterreferredtoastheAccountingStandardsforBusinessEnterprises),andonthisbasis,itcompilesthefinancialstatementsincombinationwiththeprovisionsoftheNo.15RulesonInformationDisclosureandCompilationofCompaniesOfferingSecuritiestothePublic-GeneralProvisionsonFinancialReports(revisedin2023)issuedbyChinaSecuritiesRegulatoryCommission.
2.GoingconcernTheCompanyhastheabilitytocontinuetooperateforatleast12monthsfromtheendofthisreportingperiod,andthereisnomajorissueaffectingitsabilitytocontinuetooperate.V.MainaccountingpolicyandAccountingEstimateTipsforspecificaccountingpolicyandestimate:
Nil
1.DeclarationoncompliancewithaccountingstandardsforbusinessenterpriseThefinancialstatementspreparedbytheCompanymeettherequirementsoftheAccountingStandardsforBusinessEnterprises,andtrulyandcompletelyreflecttheCompany'sfinancialstatus,operatingresults,changesinowners'equityandcashflowandotherrelevantinformation.
2.AccountingperiodCalendaryearistheaccountingperiodfortheCBC,whichisstartingfrom1Januaryto31December.
3.BusinesscyclesTheCompanytakes12monthsasabusinesscycle.
4.Book-keepingcurrencyTheCBCtakesRMBasthestandardcurrencyforbookkeeping.
5.Determinationmethodandselectionbasisofimportancestandard?Applicable□Notapplicable
| Item | Criterionofimportance |
| Materialreceivableswithbaddebtprovisionaccruedindividually | Commercialacceptancebillsreceivable,accountsreceivableandotherreceivableswithasingleamountexceedingRMB5million(inclusive) |
| Materialamountrecoveredorreversedfrombaddebtprovisionofreceivablesinthecurrentperiod | ThesingleamountexceedsRMB5million(inclusive) |
| Write-offofImportantmaterialreceivablesinthecurrentperiod | ThesingleamountexceedsRMB5million(inclusive) |
| Materialprepaymentswithanageofmorethanoneyear | ThesingleamountexceedsRMB5million(inclusive) |
| Materialaccountspayablewithanageofover1year | ThesingleamountexceedsRMB5million(inclusive) |
| Materialcontractualliabilitieswithanageofmorethan1year | ThesingleamountexceedsRMB5million(inclusive) |
| Materialotherpayableswithanageofmorethan1year | ThesingleamountexceedsRMB5million(inclusive) |
| Materialconstructioninprogress | ConstructioninprogresswithasingleamountexceedingRMB5million(inclusive) |
| Materialcommitments | Commitmentsinvolvinganamountofmorethan10%ofthetotalprofitandmorethanRMB5million(inclusive) |
| Materialcontingencies | Contingenciesinvolvinganamountofmorethan10%ofthetotalprofitandmorethanRMB5million(inclusive) |
| Materialmattersafterthebalancesheetdate | Mattersafterthebalancesheetdateinvolvinganamountexceeding10%ofthetotalprofitandexceedingRMB5million(inclusive) |
| Materialnon-wholly-ownedsubsidiaries | Thetotalassetsofnon-wholly-ownedsubsidiariesshallnotbelessthan10%ofthetotalassetsintheconsolidatedstatementoftheGroup,ortheoperatingincomeshallnotbelessthan10%oftheGroup'soperatingincome,orthenetprofitshallnotbelessthan10%oftheabsolutevalueoftheGroup'snetprofit. |
6.Accountingtreatmentforbusinesscombinationsunderthesamecontrolandthosenotunderthesamecontrol
1.Businessmergerunderthesamecontrol:TheassetsandliabilitiesacquiredbytheCompanyinbusinessmergeraremeasuredaccordingtothebookvalueoftheassetsandliabilitiesofthemergedparty(includingthegoodwillformedbytheacquisitionofthemergedpartybytheultimatecontrollingparty)intheconsolidatedfinancialstatementsoftheultimatecontrollingpartyonthedateofmerger.Forthedifferencebetweenthebookvalueofthenetassetsobtainedinthemergerandthebookvalueofthemergerconsiderationpaid(orthetotalfacevalueoftheissuedshares),adjustthecapitalpremiumorsharecapitalpremiuminthecapitalreserve.Ifthecapitalpremiumorsharecapitalpremiuminthecapitalreserveisinsufficienttooffset,adjusttheretainedincome.
2.Businessmergernotunderthesamecontrol:Theassetspaid,liabilitiesincurredorassumedbytheCompanyastheconsiderationforbusinessmergeraremeasuredatfairvalueonthedateofpurchase,andthedifferencebetweenfairvalueandbookvalueisincludedinthecurrentprofitsandlosses.TheCompanyrecognizesthedifferencebetweenthemergercostandthefairvalueshareofthenetidentifiableassetsoftheacquireeobtainedinthemergerasgoodwill;Forthedifferencebetweenthemergercostandthefairvalueshareofthenetidentifiableassetsoftheacquiree(whichislargerthanthemergercost),itreviewsthefairvaluesoftheassetsandliabilitiesobtainedinthemerger,thenon-cashassetsasthemergerconsiderationortheequitysecuritiesissued,andthereviewresultsshowthatthedeterminationofthefairvaluesofthedeterminedidentifiableassetsandliabilitiesisappropriate.Thedifferencebetweenthebusinessmergercostandthefairvalueshareofthenetidentifiableassetsoftheacquiree(whichislargerthanthebusinessmergercost)isincludedinthenon-operatingincomeinthecurrentmergerperiod.
Thebusinessmergernotunderthesamecontrolisrealizedstepbystepthroughmultipletransactions,andthemergercostisthesumoftheconsiderationpaidonthedateofpurchaseandthefairvalueoftheequityof
theacquireeheldbeforethedateofpurchase;Theequityofthepurchasedpartyheldbeforethedateofpurchaseshallbere-measuredaccordingtothefairvalueonthedateofpurchase,andthedifferencebetweenthefairvalueanditsbookvalueshallbeincludedinthecurrentinvestmentincome.Othercomprehensiveincomeofthelong-termequityinvestmentoftheacquireeheldbeforethedateofpurchaseundertheaccountingbyequitymethodshallbesubjecttoaccountingtreatmentonthesamebasisasthedirectdisposalofrelevantassetsorliabilitiesbytheinvestee.Changesinothershareholders'equityexceptnetprofitsandlosses,othercomprehensiveincomeandprofitdistributionshallbeconvertedintocurrentprofitsandlossesonthedateofpurchase.Forotherequityinstrumentinvestmentsoftheacquireeheldbeforethedateofpurchase,thechangesinfairvalueoftheequityinstrumentinvestmentsaccumulatedinothercomprehensiveincomebeforethedateofpurchasearetransferredtoretainedprofitsandlosses.
3.Disposalofrelatedexpensesinbusinessmerger:Intermediaryexpensessuchasaudit,legalservices,evaluationandconsultationandotherrelatedmanagementexpensesincurredforbusinessmergerareincludedincurrentprofitsandlosseswhenincurred;Thetransactioncostsofequitysecuritiesordebtsecuritiesissuedasthemergerconsiderationareincludedintheinitialrecognitionamountofequitysecuritiesordebtsecurities.
7.Criteriaforcontrolandpreparationmethodofconsolidatedfinancialstatements
1.Criteriaforcontrolandpreparationscopeofconsolidatedstatements
Controlmeansthattheinvestorhasthepowerovertheinvestee,enjoysvariablereturnsbyparticipatingintherelatedactivitiesoftheinvestee,andhastheabilitytoinfluencetheamountofreturnsbyusingthepowerovertheinvestee.Asforwhethertocontroltheinvestee,theCompany'scriterionfactorsinclude:
(1)Havethepowerovertheinvesteeandtheabilitytoleadtherelatedactivitiesoftheinvestee;
(2)Beentitledtovariablereturnstotheinvestee;
(3)Havetheabilitytousethepowerovertheinvesteetoinfluenceitsreturnamount.
UnlessthereisconclusiveevidencethattheCompanycannotleadtherelatedactivitiesoftheinvestee,theCompanyhasthepowerovertheinvesteeif:
(1)Itholdsmorethanhalfofthevotingrightsoftheinvestee;
(2)Itholdshalforlessofthevotingrightsoftheinvestee,butcontrolsmorethanhalfofthevotingrightsthroughagreementswithothervotingrightsholders.
IftheCompanyholdshalforlessofthevotingrightsoftheinvestee,butaftercomprehensiveconsiderationofthefollowingfactsandcircumstances,itisjudgedthatthevotingrightsheldaresufficienttoleadtherelevantactivitiesoftheinvestee,itisdeemedthattheCompanyhaspowerovertheinvestee:
(1)Thesizeofthevotingrightsheldrelativetothevotingrightsheldbyotherinvestors,andthedegreeofdispersionofthevotingrightsheldbyotherinvestors;
(2)Thepotentialvotingrightsoftheinvesteeheldbyotherinvestors,suchasconvertiblecorporatebondsandexecutablewarrants;
(3)Othercontractualrights;
(4)Otherrelevantfactsandcircumstancessuchasthepastvotingrightsoftheinvestee.TheCompanyevaluatesthevariabilityofreturnsbasedonthenatureofcontractualarrangementsratherthanthelegalformofreturns.IftheCompanyexercisesthedecision-makingpowerasthemainresponsibleperson,orifotherpartieshavethedecision-makingpowerandotherpartiesexercisethedecision-makingpowerastheagentsoftheCompany,itshowsthattheCompanycontrolstheinvestee.
Oncethechangesinrelevantfactsandcircumstancesleadtochangesintherelevantfactorsinvolvedinthedefinitionofcontrol,theCompanywillre-evaluate.Thescopeofconsolidationoftheconsolidatedfinancialstatementsisdeterminedonthebasisofcontrol,includingnotonlysubsidiariesdeterminedbyvotingrights(orsimilarrights)themselvesorincombinationwithotherarrangements,butalsostructuredentitiesdeterminedbyoneormorecontractualarrangements.
2.Mergerprocedure
TheconsolidatedfinancialstatementsarebasedonthefinancialstatementsoftheCompanyanditssubsidiaries,andarepreparedaccordingtootherrelevantinformation.
TheCompanyunifiestheaccountingpoliciesandaccountingperiodsadoptedbyitssubsidiaries,sothattheaccountingpoliciesandaccountingperiodsadoptedbyitssubsidiariesareconsistentwiththoseadoptedbytheCompany.Whenpreparingconsolidatedfinancialstatements,itfollowstheprincipleofmaterialitytooffsettheinternalexchanges,internaltransactionsandequityinvestmentprojectsbetweentheparentcompanyandthesubsidiaries,andbetweenthesubsidiaries.
Theequityandprofitandlossattributabletominorityshareholdersofthesubsidiariesarelistedseparatelyundertheitemoftheowners'equityintheconsolidatedbalancesheetandundertheitemofnetprofitintheconsolidatedincomestatement.Thecurrentlosssharedbyminorityshareholdersofasubsidiaryexceedsthebalanceformedbyminorityshareholders'shareintheinitialowners'equityofthesubsidiary,thusoffsettingminorityshareholders'equity.
(1)Increaseofsubsidiariesandbusinesses
Duringthereportingperiod,whenpreparingtheconsolidatedbalancesheetduetothebusinessmergerunderthesamecontrolandthesubsidiariesandbusinessesincreased,theopeningbalanceoftheconsolidatedbalancesheetisadjusted;Whenpreparingtheincomestatement,theincome,expensesandprofitsofthesubsidiaryandbusinessmergerfromthebeginningofthecurrentperiodtotheendofthereportingperiodareincludedintheconsolidatedincomestatement;Whenthecashflowstatementisconsolidated,thecashflowsofthesubsidiaryandthebusinesscombinationfromthebeginningofthecurrentperiodtotheendofthereportingperiodareincludedintheconsolidatedcashflowstatement;Atthesametime,therelevantitemsofthecomparativestatementsshallbeadjusted,asifthemergedreportingentityhadexistedsincetheultimatecontrollingpartystartedtocontrol.
Duringthereportingperiod,whenpreparingtheconsolidatedbalancesheetforsubsidiariesandbusinessesincreasedduetobusinessmergernotunderthesamecontrolorothermeans,theopeningbalanceoftheconsolidatedbalancesheetwillnotbeadjusted.Whenpreparingtheincomestatement,theincome,expensesandprofitsofthesubsidiaryandthebusinessfromthedateofpurchasetotheendofthereportingperiodshallbeincludedintheconsolidatedincomestatement.Whenpreparingthecashflowstatement,thecashflowofthesubsidiaryfromthedateofpurchasetotheendofthereportingperiodshallbeincludedintheconsolidatedcashflowstatement.TheCompanypreparesconsolidatedfinancialstatementsbasedontheamountofidentifiableassets,liabilitiesandcontingentliabilitiesdeterminedonthebasisofthefairvalueonthedateofpurchasereflectedintheindividualfinancialstatementsofsubsidiariesatthecurrentbalancesheetdate.Thedifferencebetweenthemergercostandthefairvalueshareofthenetidentifiableassetsoftheacquireeobtainedinthemergershallberecognizedasgoodwill.Thedifferencebetweenthemergercostandthefairvalueshareofthenetidentifiableassetsoftheacquireeobtainedinthemergershallbeincludedinthecurrentprofitsandlossesafterreview.
Ifthebusinessmergernotunderthesamecontrolisrealizedstepbystepthroughmultipletransactions,intheconsolidatedfinancialstatements,theequityoftheacquireeheldbeforethedateofpurchaseshallbere-measuredaccordingtothefairvalueoftheequityonthedateofpurchase,andthedifferencebetweenthefairvalueanditsbookvalueshallbeincludedinthecurrentinvestmentincome.Othercomprehensiveincomeofthelong-termequityinvestmentoftheacquireeheldbeforethedateofpurchaseundertheaccountingbyequitymethodshallbesubjecttoaccountingtreatmentonthesamebasisasthedirectdisposalofrelevantassetsorliabilitiesbytheinvestee.Changesinothershareholders'equityexceptnetprofitsandlosses,othercomprehensiveincomeandprofitdistributionshallbeconvertedintocurrentprofitsandlossesonthedateofpurchase.Forotherequityinstrumentinvestmentsoftheacquireeheldbeforethedateofpurchase,thechangesinfairvalueoftheequityinstrumentinvestmentsaccumulatedinothercomprehensiveincomebeforethedateofpurchasearetransferredtoretainedprofitsandlosses.
(2)Disposalofsubsidiariesandbusinesses
A.Generaldisposalmethods
Duringthereportingperiod,iftheCompanydisposesofitssubsidiariesandbusinesses,theincome,expensesandprofitsofthesubsidiariesandbusinessesfromthebeginningtothedisposaldatewillbeincludedintheconsolidatedincomestatement;Thecashflowofthesubsidiariesandbusinessesfromthebeginningtothedisposaldatewillbeincludedintheconsolidatedcashflowstatement.
IftheCompanylosescontrolofitsoriginalsubsidiariesduetothedisposalofsomeequityinvestments,theremainingequityshallbere-measuredaccordingtoitsfairvalueonthedateoflossofcontrolintheconsolidatedfinancialstatements.Thesumoftheconsiderationobtainedfromthedisposaloftheequityandthefairvalueoftheremainingequity,minusthedifferencebetweentheshareofthenetassetsthatshouldbecontinuouslycalculatedbytheoriginalsubsidiaryfromthedateofpurchaseorthedateofmergeraccordingto
theoriginalshareholdingratio,isincludedinthecurrentinvestmentincomewhenthecontrolrightislost,andthegoodwillisalsooffset.Othercomprehensiveincomerelatedtotheoriginalsubsidiary'sequityinvestmentshallbesubjecttoaccountingtreatmentonthesamebasisasthesubsidiary'sdirectdisposalofrelevantassetsorliabilitieswhenitlosescontrol.Shareholders'equityrecognizedduetochangesinothershareholders'equityrelatedtotheoriginalsubsidiaryexceptnetprofitandloss,othercomprehensiveincomeandprofitdistributionshallbeconvertedintocurrentprofitsandlosseswhenitlosescontrol.
B.DisposeofequitystepbystepuntillossofcontrolIftheenterprisedisposesofitsequityinvestmentinasubsidiarystepbystepthroughmultipletransactionsuntilitlosescontrol,ifthetransactionofdisposingofitsequityinvestmentinasubsidiaryuntilthelossofcontrolisapackagetransaction,itshalltreateachtransactionasatransactionofdisposingofthesubsidiaryandlossofcontrol;However,thedifferencebetweenthepriceofeachdisposalbeforethelossofcontrolandtheshareofthesubsidiary'snetassetscorrespondingtothedisposalinvestmentshallberecognizedasothercomprehensiveincomeintheconsolidatedfinancialstatements,andtransferredtothecurrentprofitsandlosseswhenthecontrolislost.
Theterms,conditionsandeconomicimpactofvarioustransactionsdealingwithequityinvestmentinsubsidiariesmeetoneormoreofthefollowingconditions,whichusuallyindicatesthatmultipletransactionsshallbesubjecttoaccountingtreatmentasapackagetransaction:
(A)Thesetransactionsareconcludedatthesametimeorundertheconsiderationofmutualimpact;
(B)Thesetransactionsasawholecanachieveacompletecommercialresult;
(C)Theoccurrenceofonetransactiondependsontheoccurrenceofatleastoneothertransaction;
(D)Atransactionisuneconomicalwhenconsideredalone,butitiseconomicalwhenconsideredtogetherwithothertransactions.
(3)Purchaseofminoritysharesofthesubsidiaries
TheCompanyshalladjustthecapitalpremiumorsharecapitalpremiuminthecapitalreserveintheconsolidatedbalancesheetforthedifferencebetweenthenewlyacquiredlong-termequityinvestmentduetothepurchaseofminoritysharesandtheshareofnetidentifiableassetsthatshouldbecontinuouslycalculatedbythesubsidiariesfromthedateofpurchase(ordateofmerger)accordingtothenewshareholdingratio.Ifthecapitalpremiumorsharecapitalpremiuminthecapitalreserveisinsufficienttooffset,theretainedincomeshallbeadjusted.
(4)Partialdisposalofequityinvestmentinsubsidiarieswithoutlossofcontrol
Forthedifferencebetweenthedisposalpriceobtainedfromthepartialdisposalofthelong-termequityinvestmentinthesubsidiaryandtheshareofthenetassetsofthesubsidiarythatiscontinuouslycalculatedfromthedateofpurchaseorthedateofmergercorrespondingtothedisposalofthelong-termequityinvestment,adjustthecapitalpremiumorsharecapitalpremiuminthecapitalreserveintheconsolidatedbalancesheet.If
thecapitalpremiumorsharecapitalpremiuminthecapitalreserveisinsufficienttooffset,adjusttheretainedincome.
8.ClassificationofjointventurearrangementandaccountingtreatmentforjointcontrolAjointventurearrangementreferstoanarrangementcontrolledjointlybytwoormoreparticipants.Jointventurearrangementsaredividedintojointoperationandjointventures.
1.JointoperationreferstothejointventurearrangementinwhichtheCompanyisentitledtotheassetsrelatedtothearrangementandundertakestheliabilitiesrelatedtothearrangement.TheCompanyrecognizesthefollowingitemsrelatedtotheshareofinterestsinjointoperation:
(1)Recognizetheassetsheldseparately,andrecognizetheassetsheldjointlyaccordingtotheirshares;
(2)Recognizetheliabilitiesundertakenseparately,andrecognizetheliabilitiesjointlyundertakenaccordingtotheirshares;
(3)Recognizetheincomegeneratedfromthesaleofitsshareofjointoperationoutput;
(4)Recognizetheincomegeneratedbythesaleofoutputinthejointoperationaccordingtoitsshare;
(5)Recognizetheexpensesincurredseparately,andrecognizetheexpensesincurredinjointoperationaccordingtotheirshares.
2.JointventurereferstoajointventurearrangementinwhichtheCompanyhasrightsonlytothenetassetsofthearrangement.TheCompanyshallcarryoutaccountingtreatmentfortheinvestmentofthejointventureinaccordancewiththeprovisionsonaccountingbyequitymethodforlong-termequityinvestment.
9.Recognitionofcashandcashequivalents
Whenpreparingthecashflowstatement,theCompanywillrecognizethecashonhandandthedepositsthatcanbeusedforpaymentatanytimeascash.Aninvestmentwithshortterm(usuallyduewithinthreemonthsfromthedateofpurchase),strongliquidity,easyconversionintoknowncashandlittleriskofvaluechangewillbedeterminedasacashequivalent.Restrictedbankdepositswillnotberegardedascashandcashequivalentsinthecashflowstatement.
10.Foreigncurrencytransactionandfinancialstatementconversion
1.Foreigncurrencybusiness
Whenforeigncurrencybusinessoccurs,theamountofforeigncurrencyisconvertedintoRMBforrecordingaccordingtothespotexchangerateonthedateoftransaction,andforeigncurrencymonetaryitemsandforeigncurrencynon-monetaryitemsaretreatedinthefollowingwaysattheendoftheperiod:
(1)Foreigncurrencymonetaryitemsareconvertedatthespotexchangerateonthebalancesheetdate.Exchangedifferencesarisingfromthedifferencebetweenthespotexchangerateonthebalancesheetdateandtheinitialrecognitionorthespotexchangerateonthepreviousbalancesheetdateareincludedinthecurrentprofitsandlosses.
(2)Foreigncurrencynon-monetaryitemsmeasuredathistoricalcostarestillconvertedatthespotexchangerateonthedateoftransaction,andtheamountoftheirrecordingcurrencywillnotbechanged.
(3)Foreigncurrencynon-monetaryitemsmeasuredatfairvalueshallbeconvertedatthespotexchangerateonthefairvaluedeterminationdate,andtheresultingexchangegainsandlossesshallbeincludedinthecurrentprofitsandlossesorothercomprehensiveincome.
(4)Foreigncurrencyexchangegainsandlosses,excepttheexchangegainsandlossesarisingfromforeigncurrencyspecialborrowingrelatedtothepurchase,constructionorproductionofassetseligibleforcapitalization,areincludedinthecostofassetseligibleforcapitalizationbeforetheassetsreachthescheduledserviceableorsaleablestate,andtherestareincludedinthecurrentprofitsandlosses.
2.Conversioninforeigncurrencyfinancialstatements
(1)Assetsandliabilitiesinthebalancesheetareconvertedatthespotexchangerateonthebalancesheetdate;Exceptforthe"undistributedprofit",otheritemsofowners'equityareconvertedatthespotexchangerateatthetimeofoccurrence.
(2)Theincomeandexpensesintheincomestatementareconvertedattheapproximateexchangerateofthespotexchangerateonthedateoftransaction.
(3)Theconversiondifferenceofforeigncurrencyfinancialstatementsgeneratedaccordingtotheaboveconversionisincludedinothercomprehensiveincome.Whendisposingofoverseasoperations,theconversiondifferenceofforeigncurrencyfinancialstatementsrelatedtotheoverseasoperationsshallbetransferredfromtheowners'equitytothecurrentprofitsandlosses.
(4)Thecashflowstatementisconvertedbytheapproximateexchangerateofthespotexchangerateonthedateofcashflowoccurrence.Asareconciliationitem,theinfluenceofexchangeratechangesoncashislistedseparatelyinthecashflowstatement.
11.Financialinstruments
WhentheCompanybecomesapartytothefinancialinstrumentcontract,itrecognizesafinancialassetorfinancialliabilityrelatedtoit.
1.Classification,recognitionbasisandmeasurementmethodoffinancialassets
Accordingtothebusinessmodeloffinancialassetsundermanagementandthecontractualcashflowcharacteristicsoffinancialassets,theCompanydividesfinancialassetsintothreecategories:financialassetsmeasuredbyamortizedcost,financialassetsmeasuredbyfairvaluewithitschangesincludedinothercomprehensiveincome,andfinancialassetsmeasuredbyfairvaluewithitschangesincludedincurrentprofitsandlosses.
Financialassetsaremeasuredatfairvalueuponinitialrecognition.Forfinancialassetsmeasuredatfairvaluewithitschangesincludedinthecurrentprofitsandlosses,relevanttransactioncostsaredirectlyincludedinthecurrentprofitsandlosses;Forfinancialassetsofothertypes,relevanttransactioncostsareincludedintheinitialrecognitionamount.IftheaccountsreceivableinitiallyrecognizedbytheCompanydonotcontain
significantfinancingcomponentsasdefinedintheAccountingStandardsforBusinessEnterprisesNo.14-Income,orthefinancingcomponentsincontractswithadurationofnomorethanoneyeararenotconsideredaccordingtotheprovisionsofAccountingStandardsforBusinessEnterprisesNo.14-Income,theinitialmeasurementshallbemadeaccordingtothetransactionpriceoftheconsiderationexpectedtobecharged.
(1)Financialassetsmeasuredinamortizedcost
TheCompany'sbusinessmodelofmanagingsuchfinancialassetsistocollectcontractcashflow,andthecashflowgeneratedonaspecificdateisonlyforthepaymentofprincipalandinterestbasedontheunpaidprincipalamount.Forsuchfinancialassets,theCompanyadoptstheeffectiveinterestratemethodforsubsequentmeasurementaccordingtoamortizedcost,andthegainsorlossesarisingfromamortizationorimpairmentareincludedinthecurrentprofitsandlosses.
(2)Financialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincome
TheCompany'sbusinessmodelofmanagingsuchfinancialassetsistocollectcontractcashflowandsellit,andthecashflowgeneratedonaspecificdateisonlyforthepaymentofprincipalandinterestbasedontheunpaidprincipalamount.Suchfinancialassetsaremeasuredatfairvaluewithchangesincludedinothercomprehensiveincome,butimpairmentlossesorgains,exchangegainsandlossesandinterestincomecalculatedaccordingtotheeffectiveinterestratemethodareincludedincurrentprofitsandlosses.
Fortheinvestmentinnon-transactionalequityinstruments,theCompanycanirrevocablydesignateitasafinancialassetmeasuredatfairvaluewithchangesincludedinothercomprehensiveincomeattheinitialrecognition.Thedesignationismadeonthebasisofasingleinvestment,andtherelevantinvestmentconformstothedefinitionofequityinstrumentfromtheissuer'spointofview.TheCompanyincludestherelevantdividendincomeofsuchfinancialassetsinthecurrentprofitsandlosses,andthechangesinfairvalueinothercomprehensiveincome.Whenthefinancialassetisderecognized,theaccumulatedgainsorlossespreviouslyincludedinothercomprehensiveincomewillbetransferredfromothercomprehensiveincometoretainedincomeandwillnotbeincludedinthecurrentprofitsandlosses.
(3)Financialassetsmeasuredatfairvaluewithchangesincludedinthecurrentprofitsandlosses
Exceptfortheabovefinancialassetsmeasuredinamortizedcostandthefinancialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincome,theCompanyclassifiesallotherfinancialassetsasfinancialassetsmeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses.Inaddition,atthetimeofinitialrecognition,inordertoeliminateorsignificantlyreducetheaccountingmismatch,theCompanydesignatedsomefinancialassetsasthefinancialassetsmeasuredatfairvaluewithchangesincludedinthecurrentprofitsandlosses.Suchfinancialassetsaresubsequentlymeasuredatfairvalue,withchangesinfairvalueincludedincurrentprofitsandlosses.
2.Classification,recognitionbasisandmeasurementmethodoffinancialliabilities
TheCompany'sfinancialliabilitiesareclassifiedintofinancialliabilitiesmeasuredatfairvaluewithchangesincludedincurrentprofitsandlossesandotherfinancialliabilitiesatinitialrecognition.Forfinancial
liabilitiesmeasuredatfairvaluewithchangesincludedinthecurrentprofitsandlosses,therelatedtransactioncostsaredirectlyincludedinthecurrentprofitsandlosses,andtherelatedtransactioncostsofotherfinancialliabilitiesareincludedintheirinitialrecognitionamount.
(1)Financialliabilitiesmeasuredatfairvaluewithchangesincludedinthecurrentprofitsandlosses
Financialliabilitiesmeasuredatfairvaluewithchangesincludedincurrentprofitsandlossesincludetransactionalfinancialliabilities(includingderivativesbelongingtofinancialliabilities)andfinancialliabilitiesdesignatedasmeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses.
Transactionalfinancialliabilities(includingderivativesbelongingtofinancialliabilities)aresubsequentlymeasuredatfairvalue,andchangesinfairvalueareincludedincurrentprofitsandlosses,exceptthoserelatedtohedgingaccounting.
Forfinancialliabilitiesthataredesignatedasbeingmeasuredatfairvaluewithchangesincludedincurrentprofitsandlossesatthetimeofinitialrecognition,thechangesinfairvaluecausedbychangesintheCompany'sowncreditriskareincludedinothercomprehensiveincome,andwhentheliabilityisderecognized,theaccumulatedchangesinitsfairvaluecausedbychangesinitsowncreditriskincludedinothercomprehensiveincomearetransferredtoretainedincome.Otherchangesinfairvalueareincludedincurrentprofitsandlosses.Iftheaccountingmismatchinprofitandlosswillbecausedorenlargedbyhandlingtheimpactofthechangesincreditriskofthesefinancialliabilitiesintheaboveway,theCompanywillincludeallthegainsorlossesofthefinancialliabilities(includingtheamountaffectedbythechangesintheenterprise'screditrisk)inthecurrentprofitsandlosses.
(2)Otherfinancialliabilities
Otherfinancialliabilities,exceptthosecausedbythetransferoffinancialassetsandfinancialguaranteecontractsthatdonotmeettheconditionsforderecognitionorcontinuetobeinvolvedinthetransferredfinancialassets,areclassifiedasfinancialliabilitiesmeasuredinamortizedcostandsubsequentlymeasuredinamortizedcost.Thegainsorlossesarisingfromderecognitionoramortizationareincludedinthecurrentprofitsandlosses.
3.Methodsfordeterminingthefairvalueoffinancialassetsandfinancialliabilities
Thefairvalueoffinancialinstrumentswithanactivemarketshallbedeterminedbythequotationintheactivemarket.Thefairvalueoffinancialinstrumentswithoutactivemarketshallbedeterminedbyvaluationtechnology.Atthetimeofvaluation,theCompanyadoptsthevaluationtechnologythatisapplicableinthecurrentsituationandsupportedbysufficientavailabledataandotherinformation,selectstheinputvaluesthatareconsistentwiththecharacteristicsofassetsorliabilitiesconsideredbymarketparticipantsinthetransactionofrelevantassetsorliabilities,andgivesprioritytotherelevantobservableinputvalues.Unobservableinputvaluescanonlybeusediftherelevantobservableinputvaluesareunavailableorimpracticable.
4.Recognitionbasisandmeasurementmethodfortransferoffinancialassets
Recognitionfortransferoffinancialassets
| Circumstances | Recognitionresults |
| Almostallrisksandrewardsintheownershipoffinancialassetsaretransferred | Thefinancialassetsarederecognized(newassets/liabilitiesarerecognized) |
Almostallrisksandrewardsintheownershipoffinancialassetsareneithertransferrednorretained
| Almostallrisksandrewardsintheownershipoffinancialassetsareneithertransferrednorretained | Thecontroloffinancialassetsisgivenup | |
| Thecontroloffinancialassetsisnotgivenup | Therelevantassetsandliabilitiesisrecognizedaccordingtotheextentofcontinuinginvolvementinthetransferredfinancialassets | |
| Almostallrisksandrewardsintheownershipoffinancialassetsareretained | Continuetorecognizethefinancialassetsandrecognizethereceivedconsiderationasfinancialliabilities | |
TheCompanydividesthetransferoffinancialassetsintotheoveralltransferandpartialtransferoffinancialassets.
(1)Iftheoveralltransferoffinancialassetsmeetstheconditionsforderecognition,thedifferencebetweenthefollowingtwoamountsshallbeincludedinthecurrentprofitsandlosses:thebookvalueofthetransferredfinancialassetsonthederecognitiondate;Thesumoftheconsiderationreceivedforthetransferoffinancialassetsandthecumulativeamountofchangesinfairvaluethatwereoriginallydirectlyincludedinothercomprehensiveincome(thefinancialassetsinvolvedinthetransferarethoseclassifiedasfinancialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincomeinArticle18ofAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments).
(2)Ifapartofthefinancialassetsistransferred,andthetransferredpartasawholemeetstheconditionsforderecognition,thebookvalueofthewholefinancialassetsbeforethetransfershallbeallocatedbetweenthederecognitionpartandthecontinuedrecognitionpart(inthiscase,theretainedserviceassetsshallberegardedaspartofcontinuedrecognitionoffinancialasset)accordingtotheirrespectiverelativefairvaluesonthedateoftransfer,andthedifferencebetweenthefollowingtwoamountsshallbeincludedinthecurrentprofitsandlosses:thebookvalueofthederecognitionpartonthederecognitiondate;Thesumoftheconsiderationreceivedforthederecognitionpart(includingallnewassetsacquiredminusallnewliabilitiesassumed)andthecorrespondingderecognitionamountintheaccumulatedamountofchangesinfairvalueoriginallyincludedinothercomprehensiveincome(thefinancialassetsinvolvedinpartialtransferarethoseclassifiedasfinancialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincomeinArticle18ofAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments).
Ifthetransferoffinancialassetsdoesnotmeettheconditionsforderecognition,thewholetransferredfinancialassetsshallbecontinuouslyrecognized,andthereceivedconsiderationshallberecognizedasafinancialliability.
5.Conditionsforderecognitionoffinancialliabilities
Ifthecurrentobligationsoffinancialliabilities(orpartofthem)havebeendischarged,thefinancialliabilities(orpartofthem)shallbederecognized.Ifthefollowingconditionsexist:
(1)IftheCompanytransferstheassetsusedtopayfinancialliabilitiestoaninstitutionorestablishesatrust,andtheobligationofdebtpaymentstillexists,itshallnotderecognizethefinancialliabilities.
(2)TheCompany(theborrower)andthelendersignanagreementtoreplacetheoriginalfinancialliabilities(orpartofthem)bytakingonnewfinancialliabilities,andthecontractualtermsareessentiallydifferent.TheCompanyshallderecognizetheoriginalfinancialliabilities(orpartofthem)andrecognizeanewfinancialliabilityatthesametime.
Ifthefinancialliabilities(orpartofthem)arederecognized,theCompanywillrecordthedifferencebetweenthebookvalueandtheconsiderationpaid(includingthetransferrednon-cashassetsorliabilities)intothecurrentprofitsandlosses.
6.Impairmentoffinancialassets
(1)Recognitionmethodofimpairmentprovision
TheCompanyconductsimpairmentaccountingtreatmentonfinancialassets(includingreceivables)measuredinamortizedcost,debtinstrumentinvestmentandleasereceivablesmeasuredatfairvaluewithchangesincludedinothercomprehensiveincomeonthebasisofexpectedcreditlosses,andrecognizesthelossprovisions.Inaddition,forcontractassets,loancommitmentsandfinancialguaranteecontracts,impairmentprovisionsarealsoaccruedandimpairmentlossesarerecognizedinaccordancewiththeaccountingpoliciesdescribedinthissection.
Expectedcreditlossreferstotheweightedmeanofcreditlossoffinancialinstrumentsweightedbytheriskofdefault.CreditlossreferstothedifferencebetweenallcontractedcashflowsthattheCompanydiscountedattheoriginalactualinterestrateandallcashflowsthatitisexpectedtoreceive,thatis,thepresentvalueofallcashshortages.
Exceptforthepurchasedororiginatedfinancialassetswithcreditimpairment,theCompanyevaluateswhetherthecreditriskofrelevantfinancialassetshasincreasedsignificantlysincetheinitialrecognitiononeachbalancesheetdate.Ifthecreditriskhasnotincreasedsignificantlysincetheinitialrecognition.itisinthefirststage,andtheCompanywillmeasurethelossprovisionaccordingtotheamountequivalenttotheexpectedcreditlossofthefinancialassetinthenext12months;Ifthecreditriskhasincreasedsignificantlysincetheinitialrecognitionbutwithnocreditimpairment,itisinthesecondstage,andtheCompanywillmeasurethelossprovisionaccordingtotheamountequivalenttotheexpectedcreditlossofthefinancialassetduringthewholeduration;Ifthefinancialassethassufferedcreditimpairmentsinceitsinitialrecognition,itisinthethirdstage,andtheCompanywillmeasurethelossprovisionaccordingtotheamountequivalenttotheexpectedcreditlossofthefinancialassetinthewholeduration.Whenevaluatingtheexpectedcreditloss,theCompanyconsidersthereasonableandwell-foundedinformation,includingforward-lookinginformation,aboutpastevents,currentsituationandfutureeconomicsituationpredictionthatcanbeobtainedonthebalancesheetdatewithoutunnecessaryextracostoreffort.
Theexpectedcreditlossinthenext12monthsreferstotheexpectedcreditlosscausedbyfinancialassetdefaulteventsthatmayoccurwithin12monthsafterthebalancesheetdate(iftheexpecteddurationoffinancial
assetsislessthan12months,withintheexpectedduration),whichisapartoftheexpectedcreditlossinthewholeduration.Forfinancialinstrumentswithlowcreditriskonthebalancesheetdate,theCompanyassumesthatthecreditriskhasnotincreasedsignificantlysincetheinitialrecognition,andchoosestomeasurethelossprovisionaccordingtotheexpectedcreditlossinthenext12months.Forthefinancialassetsinthefirstandsecondstagesandwithlowcreditrisk,theCompanycalculatestheinterestincomeaccordingtothebookbalancewithoutdeductingtheimpairmentprovisionandtheactualinterestrate.Forthefinancialassetsinthethirdstage,theinterestincomeshallbecalculatedaccordingtothebookbalanceminustheamortizedcostandtheactualinterestrateaftertheimpairmentprovisionhasbeenaccrued.
(2)FinancialassetwithimpairmentWhentheCompanyanticipatesthatoneormoreeventsthathaveanadverseeffectonthefuturecashflowofafinancialassetoccur,thefinancialassetbecomesafinancialassetwithcreditimpairment.Evidenceofcreditimpairmentoffinancialassetsincludesthefollowingobservableinformation:
A.Theissuerorthedebtorhasmajorfinancialdifficulties;B.Thedebtorhasbreachedthecontract,suchasdefaultoroverduepaymentofinterestorprincipal;C.Thecreditormakesconcessionstothedebtorthatitwillnotmakeunderanyothercircumstancesduetoeconomicorcontractualconsiderationsrelatedtoitsfinancialdifficulties;D.Thedebtorislikelytogobankruptorcarryoutotherfinancialrestructuring;E.Thefinancialdifficultiesoftheissuerordebtorleadtothedisappearanceoftheactivemarketofthefinancialasset;F.Afinancialassetispurchasedororiginatedatalargediscount,whichreflectsthefactthatcreditlosshasoccurred.Creditimpairmentoffinancialassetsmaybecausedbythejointactionofmultipleevents,notnecessarilybyaneventthatcanbeidentifiedseparately.
(3)Financialassetswithcreditimpairmentpurchasedororiginated
Forthepurchasedororiginatedfinancialassetswithcreditimpairment,theCompanyonlyrecognizesthecumulativechangeofexpectedcreditlossinthewholedurationafterinitialrecognitionaslossprovisiononthebalancesheetdate.Oneachbalancesheetdate,thechangeamountofexpectedcreditlossduringthewholedurationisincludedinthecurrentprofitsandlossesasimpairmentlossorgain.Eveniftheexpectedcreditlossdeterminedonthebalancesheetdateislessthantheamountoftheexpectedcreditlossreflectedbytheestimatedcashflowatthetimeofinitialrecognition,thefavorablechangeofexpectedcreditlosswillberecognizedasimpairmentgain.
(4)Criteriaforjudgingsignificantincreaseincreditrisk
Ifthedefaultprobabilityofafinancialassetintheestimateddurationdeterminedonthebalancesheetdateissignificantlyhigherthanthatintheestimateddurationdeterminedattheinitialrecognition,itindicatesthatthecreditriskofthefinancialassetissignificantlyincreased.Exceptinspecialcircumstances,theCompanyusesthechangeofdefaultriskinthenext12monthsasareasonableestimateofthechangeindefaultriskinthewholedurationtodeterminewhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition.
(5)Methodofevaluatingtheexpectedcreditlossoffinancialassets
TheCompanyevaluatestheexpectedcreditlossoffinancialassetsbasedonindividualandcombineditems.Itindividuallyevaluatesthecreditriskoffinancialassetswithsignificantlydifferentcreditrisks,suchas:
receivablesfromrelatedparties;accountsreceivablefromgovernmentagenciesandunits;andreceivableswithobvioussignsthatthedebtorislikelytobeunabletofulfilltherepaymentobligations.
Exceptforfinancialassetswhosecreditrisksareindividuallyevaluated,theCompanydividesfinancialassetsintodifferentgroupsbasedoncommonriskcharacteristics,andevaluatesthecreditrisksonthebasisofcombination.
(6)Accountingtreatmentmethodforimpairmentoffinancialassets
TheCompanycalculatestheexpectedcreditlossesofvariousfinancialassetsonthebalancesheetdate,andtheresultingincreaseorreversalamountoflossprovisionisincludedinthecurrentprofitsandlossesasimpairmentlossesorgains.
IftheCompanyactuallysuffersfromcreditlosses,andtherelevantfinancialassetsaredeterminedtobeirrecoverableandapprovedforwrite-off,thebookbalanceofthefinancialassetswillbedirectlywrittendown.Ifthefinancialassetswrittendownarerecoveredlater,theywillbeincludedinthecurrentprofitsandlossesofrecoveryasthereversalofimpairmentlosses.
7.Financialguaranteecontract
Afinancialguaranteecontractreferstoacontractinwhichtheissuerpaysacertainamounttothecontractholderwhohassufferedlosseswhenthedebtorfailstorepaythedebtaccordingtotheoriginalorrevisedtermsofthedebtinstrumentatmaturity.Thefinancialguaranteecontractshallbemeasuredatfairvalueuponinitialrecognition.Forthefinancialguaranteecontractforafinancialliabilitynotdesignatedasbeingmeasuredatfairvaluewithchangesincludedintothecurrentprofitsandlosses,aftertheinitialrecognition,subsequentmeasurementshallbemadeaccordingtothehigheroftheexpectedcreditlossprovisionamountdeterminedonthebalancesheetdateandthebalanceoftheinitialrecognitionamountafterdeductingtheaccumulatedamortizationamountdeterminedaccordingtotheincomerecognitionprinciple.
8.Offsetoffinancialassetsandfinancialliabilities
Financialassetsandfinancialliabilitiesarelistedseparatelyinthebalancesheetwithoutmutualoffset.However,ifthefollowingconditionsaremetatthesametime,thenetamountaftermutualoffsetshallbelistedinthebalancesheet:
(1)TheCompanyhasthelegalrighttooffsettherecognizedfinancialassetsandfinancialliabilities,andsuchlegalrightisnowenforceable;
(2)TheCompanyplanstosettleaccountsbynetting,orrealizethefinancialassetsandpayoffthefinancialliabilitiesatthesametime.
9.EquityinstrumentsEquityinstrumentsrefertocontractsthatcanprovethattheCompanyhasresidualinterestsinassetsafterdeductingallliabilities.Theissuance(includingrefinancing),repurchase,saleorcancellationofequityinstrumentsbytheCompanyaretreatedaschangesinequity.TheCompanydoesnotrecognizechangesinthefairvalueofequityinstruments.Transactioncostsrelatedtoequitytransactionsaredeductedfromequity.Variousdistributions(excludingstockdividends)madebytheCompanytoholdersofequityinstrumentsareusedasprofitdistributiontoreducetheowners'equity.Thestockdividendsdistributeddonotaffectthetotalowners'equity.TheCompanyshallcomplywiththedisclosurerequirementofjewelry-relatedindustriesinthe“ShenzhenStockExchangeSelf-RegulatoryGuidelinesforListedCompaniesNo.3-IndustryDisclosure”
12.NotereceivableTheCompanymeasuresthelossprovisionfornotesreceivableaccordingtotheexpectedcreditlossamountofthewholeduration.Exceptforthenotesreceivablewhosecreditriskisevaluatedindividually,theCompanydividesthenotesreceivableintodifferentportfoliosbasedonthecreditriskoftheiracceptorsasacommonriskcharacteristic,andcalculatestheexpectedcreditlossonthebasisoftheportfolios.Thebasisfordeterminingtheportfoliosisasfollows:
| Portfolioname | Basisfordeterminingtheportfolio |
| Bankacceptancebill | Managementevaluationhaslowcreditriskandtheexpectedcreditlossisgenerallynotrecognized |
| Commercialacceptancebill | Sameas"AccountsReceivable"portfolio |
TheCompanyindividuallyteststheimpairmentofthenotesreceivablewithobjectiveevidenceandothernotesthataresuitableforindividualevaluation,recognizestheexpectedcreditloss,andcalculatestheindividualimpairmentprovision.
13.AccountreceivableTheCBCadoptsthesimplifiedmodelofexpectedcreditlossforaccountsreceivablesspecifiedin“AccountingStandardsforBusinessEnterprisesNo.14-Revenue”andwithoutcontainingsignificantfinancingcomponents(includingthecasethatthefinancingcomponentsincontractsthatdonotexceedoneyeararenotconsideredaccordingtothestandards),thatis,alwaysmeasurestheirlossprovisionsaccordingtotheamountofexpected
creditlossduringtheentireduration,andtheresultingincreasedorreversedamountofthelossprovisionisincludedinthecurrentprofitandlossasanimpairmentlossorgain.
Basedoncommonriskcharacteristics,theCompanydividesaccountsreceivableintodifferentgroupsaccordingtocommoncreditriskcharacteristicssuchascustomercategories:
| Portfolioname | Basisfordeterminingtheportfolio |
| Individualidentificationportfolio | Commercialacceptancebillsreceivable,accountsreceivableandotherreceivableswithsignificantsingleamount(receivableswithanendingbalanceofmorethanRMB5million(includingRMB5million)),oraccountsreceivablewithinsignificantindividualamountbuthighrisk |
| Agingportfolio | Takingtheagingofreceivablesasthecreditriskcharacteristic |
| Related-partyportfolioreceivable | Receivablesfromrelatedparties |
(1)Individualidentificationportfolio:ForreceivableswithanendingbalanceofmorethanRMB5million(includingRMB5million),oraccountsreceivablewithinsignificantindividualamountbuthighrisk,impairmenttestshallbeconductedseparatelyforeachcustomer.Impairmenttestshallbeconductedseparatelyforaccountsreceivablewithobjectiveevidenceindicatingimpairmentandotheraccountsreceivableapplicabletoindividualevaluation(suchasaccountsreceivableindisputewiththeotherpartyorinvolvinglitigationandarbitration;accountsreceivablewithobvioussignsthatthedebtorislikelytobeunabletofulfilltherepaymentobligations,etc.),torecognizeexpectedcreditlossandcalculateindividualimpairmentprovision.
(2)Agingportfolio:Foraccountsreceivablethathavenotbeenimpairedafterindividualtestingorwhoseindividualamountisnotsignificantbutwithlowrisk,theCompanyevaluatestheexpectedcreditlossofvariousaccountsreceivablebasedontheactuallossrateofthesameorsimilaraccountsreceivableportfoliowithsimilarcreditriskcharacteristicsinpreviousyears.TheCompanydeterminestheagingofaccountsreceivablebasedontheperiodfromtheentrydatetothebalancesheetdate.
(3)Associatedportfolio:Unlessthereisconclusiveevidenceindicatinganimpairment,theaccountsreceivableformedbetweenrelatedpartiesshallnotbeaccruedforbaddebtprovision.
14.Receivablefinancing
Receivablefinancingreflectsnotesreceivableandaccountsreceivablethataremeasuredatfairvalueonthebalancesheetdatewithchangesincludedinothercomprehensiveincome.Fortheaccountingtreatmentmethod,pleaserefertotherelatedtreatmentofthefinancialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincomeclassifiedinItem(XI)FinancialInstrumentofthisaccountingpolicy.
15.Otheraccountreceivable
Determinationmethodandaccountingtreatmentoftheexpectedcreditlossofotheraccountreceivable
Forotherreceivables,theexpectedcreditlossisdeterminedaccordingtohistoricaldataandforward-lookinginformation.Basedonwhetherthecreditriskofotherreceivableshasincreasedsignificantlysincethe
initialrecognition,theCompanyadoptstheamountequivalenttotheexpectedcreditlossinthenext12monthsorthewholedurationtomeasuretheimpairmentloss.Forspecificaccountingtreatmentmethods,pleaserefertoItem(XIII)AccountsReceivableofthisaccountingpolicy.
16.Contractualassets
ContractassetsrefertotherightthattheCompanyhastransferredthegoodstocustomersandhastherighttoreceiveconsideration,andsuchrightdependsonotherfactorsbesidesthepassageoftime.
17.InventoryTheCompanyshallcomplywiththedisclosurerequirementofjewelry-relatedindustriesinthe“ShenzhenStockExchangeSelf-RegulatoryGuidelinesforListedCompaniesNo.3-IndustryDisclosure”
(1)ClassificationofinventoryTheCBCclassifiestheinventoryintorawmaterials,goodsinprocess,goodsonhand,wrappage,lowvalueconsumables,materialsforconsignedprocessingandgoodssold,etc.
(2)ValuationofinventoriesInventoriesareinitiallymeasuredatcostuponacquisition,whichincludesprocurementcosts,processingcostsandothercosts.Costoftheinventoryissuediscarriedforwardonthebasisofacombinationoftheweightedaveragemethodandspecificidentificationwheninventoriesareissued.
(3)InventorysystemPerpetualinventorysystemisadopted.
(4)Amortizationmethodoflow-valueconsumablesandpackagingmaterials
"One-timeamortizationmethod"isadoptedforaccounting.
(5)ProvisionforinventoryimpairmentWhenacomprehensivecountofinventoriesisdoneattheendoftheperiod,provisionforinventoryimpairmentisallocatedoradjustedusingthelowerofthecostofinventoryandthenetrealizablevalue.Thenetrealizablevalueofstockininventory(includingfinishedproducts,goodsinstockandmaterialsforsale)thatcanbesolddirectlyisdeterminedusingtheestimatedsaleablepriceofsuchinventorydeductedbythecostofsalesandrelevanttaxationoverthecourseofordinaryproductionandoperation.Thenetrealizablevalueofmaterialininventorythatrequiresprocessingisdeterminedusingtheestimatedsaleablepriceofthefinishedproductdeductedbythecosttocompletion,estimatedcostofsalesandrelevanttaxationoverthecourseofordinaryproductionandoperation.Thenetrealizablevalueofinventoryheldforperformanceofsalescontractorlaborservicecontractisdeterminedbasedonthecontractualprice;incasetheamountofinventoryheldexceedsthecontractualamount,thenetrealizablevalueoftheexcessportionofinventoryiscalculatedusingthenormalsaleableprice.Provisionforimpairmentismadeaccordingtoindividualitemsofinventoriesattheendoftheperiod;however,forinventorieswithlargequantityandlowunitprice,theprovisionismadebycategories;inventoriesofproductsthatareproducedandsoldinthesameregionorwiththesameorsimilarpurposeorusageandaredifficulttobemeasuredseparatelyarecombinedforprovisionforimpairment.Ifthefactorscausingapreviouswrite-offofinventoryvaluehasdisappeared,theamountwritten-offisreversedandtheamountprovidedforinventoryimpairmentisreversedandrecognizedinprofitorlossfortheperiod.
Duringthereportingperiod,thespecificmethodsandimplementationoftheCompany'sinventoryimpairmentmeasurementareasfollows:
(1)Inventoryimpairmentmethod
Theissuer'sinventorymainlyincludesrawmaterials,inventorygoodsandmaterialscommissionedforprocessing.TheendinginventoryoftheCompanyismeasuredaccordingtothelowerofcostandnetrealizablevalue.Whenthenetrealizablevalueislowerthanthecost,theinventorydepreciationprovisionisaccrued.
①Specificmethodsformeasuringtheimpairmentofrawmaterials
Rawmaterialsmainlyincludegoldanddiamondrawmaterials.TheclosingnetrealizablevalueofgoldrawmaterialsisdeterminedaccordingtotheclosingpriceofspotgoldtradingannouncedbyShanghaiGoldExchangeattheendoftheperiod.Forthepartwiththebookcosthigherthantheclosingnetrealizablevalue,inventorydepreciationprovisionisaccrued;Diamondrawmaterialsareusedforprocessingfinisheddiamondinlaidproducts,butthefinisheddiamondinlaidproductsarewithgreatdifference.Attheendoftheyear,theCompanywillcomprehensivelyjudgewhethertherearesignsofimpairmentbasedonthepricefluctuationofdiamondsinthatyear,processingratesandpricingpolicies,andiftherearesignsofimpairment,itwillmeasuretheimpairmentonebyone.
②Specificmethodsformeasuringtheimpairmentofinventorygoods
Inventorygoodsmainlyincludefinishedgoldproducts,finishedK-goldproductsandfinishedinlaidproducts.ThedepreciationoffinishedgoldproductsandfinishedK-goldproductsshallbemeasuredonebyone,andtheclosingnetrealizablevalueshallbedeterminedbyreferringtothesalesoutboundpriceattheendoftheperiodafterdeductingtherelevantsalesexpensesandtaxes.Forfinishedproductswhoseclosingbookcostishigherthanthenetrealizablevalue,theinventorydepreciationprovisionshallbeaccrued.Thefinishedinlaidproductsarequitedifferent.Attheendoftheperiod,theCompanywillcomprehensivelyjudgewhethertherearesignsofimpairmentaccordingtothepricefluctuationofdiamondsinthatyearandthepricingpolicy.Iftherearesignsofimpairment,theimpairmentwillbemeasuredonebyone.
③Specificmethodsformeasuringtheimpairmentofmaterialscommissionedforprocessing
Materialscommissionedforprocessingmainlyincludegoldanddiamondrawmaterials,whicharesimilarinnaturetorawmaterials,sothemeasurementmethodisconsistentwiththatofrawmaterials.
18.Assetsheldforsale
1.Basisforclassificationasnon-currentassetsheldforsaleordisposalgroup
Ifthebookvalueofannon-currentassetisrecoveredmainlythroughsales(includingtheexchangeofnon-monetaryassetswithcommercialsubstance)ratherthancontinuoususeordisposalgroup,theCompanywillclassifyitasheldforsale.Thespecificstandardistomeetthefollowingconditionsatthesametime:
(1)Accordingtothepracticeofsalesofsuchassetsordisposalgroupsinsimilartransactions,theycanbesoldimmediatelyunderthecurrentsituation;
(2)TheCompanyhasmadearesolutiononasaleplanandobtainedafirmpurchasecommitment.Itisexpectedthatthesalewillbecompletedwithinoneyear(iftherelevantregulationsrequiretheapprovaloftherelevantauthorityorregulatorydepartmentoftheCompanybeforethesale,suchapprovalhasbeenobtained).
Ifthecontrolrightofthesubsidiaryislostduetothesaleoftheinvestmentinthesubsidiary,regardlessofwhetherpartoftheequityinvestmentisretainedafterthesaleandtheconditionsforclassificationoftheheld-for-salecategoryaremet,theinvestmentinthesubsidiaryasawholewillbeclassifiedasheld-for-salecategoryintheindividualfinancialstatementsoftheparentcompany,andallassetsandliabilitiesofthesubsidiarywillbeclassifiedasheld-for-salecategoryintheconsolidatedfinancialstatements.
2.Accountingtreatmentofnon-currentassetsordisposalgroupsheldforsale
WhentheCompanyinitiallymeasuresorre-measuresthenon-currentassetsordisposalgroupsheldforsaleonthebalancesheetdate,ifthebookvalueishigherthanthenetamountoffairvalueminusthesale
expenses,thebookvaluewillbewrittendowntothenetamountoffairvalueminusthesaleexpenses,andthewritten-downamountwillberecognizedasassetimpairmentlossandincludedinthecurrentprofitsandlosses,andimpairmentprovisionofassetsheldforsalewillbeaccruedatthesametime.Ifthenetamountofthefairvalueofnon-currentassetsheldforsaleonthesubsequentbalancesheetdateisincreasedafterdeductingthesaleexpenses,thepreviouslywritten-downamountwillberestoredandreversedwithintheamountofassetimpairmentlossrecognizedafterbeingclassifiedasheldforsale,andthereversedamountwillbeincludedinthecurrentprofitsandlosses.Assetsimpairmentlossesrecognizedbeforebeingclassifiedasheldforsaleshallnotbereversed.Fortheamountofassetimpairmentlossrecognizedbythedisposalgroupheldforsale,thebookvalueofgoodwillinthedisposalgroupshallbedeductedfirst,andthenthebookvalueofnon-currentassetsinthedisposalgroupshallbedeductedproportionallyaccordingtotheproportionofthebookvalueofnon-currentassetsinthedisposalgroup.Forthesubsequentreversalamountofassetimpairmentlossesrecognizedbythedisposalgroupheldforsale,thebookvaluewillbeincreasedinproportionaccordingtotheproportionofthebookvalueofnon-currentassetsexceptgoodwillinthedisposalgroup.
Non-currentassetsheldforsaleornon-currentassetsindisposalgrouparenotdepreciatedoramortized,andinterestandotherexpensesofliabilitiesindisposalgroupheldforsalecontinuetoberecognized.
WhentheCompanyderecognizesthenon-currentassetsheldforsaleordisposalgroups,theunrecognizedgainsorlosseswillbeincludedinthecurrentprofitsandlosses.
Whennon-currentassetsordisposalgroupsarenolongerclassifiedasheldforsalebecausetheynolongermeettheclassificationconditionsofheldforsale,ornon-currentassetsareremovedfromthedisposalgroupsheldforsale,themeasurementshallbebasedonthelowerofthefollowingtwoamounts:
(1)Forthebookvaluebeforebeingclassifiedasheldforsale,theadjustedamountbasedondepreciation,amortizationorimpairmentthatshouldhavebeenrecognizedifitisnotclassifiedasheldforsale;
(2)Recoverableamount.
3.Determinationstandardandpresentationmethodofdiscontinuedoperation
DiscontinuedoperationsreferstoacomponentthatmeetsanyofthefollowingconditionsandcanbedistinguishedseparatelyandhasbeendisposedofbytheCompanyorclassifiedasacomponentheldforsale:
(1)Thiscomponentrepresentsanindependentmainbusinessorasinglemainbusinessarea;
(2)Thiscomponentispartofanassociatedplantodisposeofanindependentmainbusinessoraseparatemainbusinessarea;
(3)Thiscomponentisasubsidiaryacquiredexclusivelyforresale.
Forthediscontinuedoperationlistedinthecurrentperiod,theCompanyseparatelyliststheprofitandlossofcontinuingoperationandtheprofitandlossofdiscontinuedoperationinthecurrentincomestatement,andre-liststheinformationoriginallylistedastheprofitandlossofcontinuingoperationastheprofitandlossofdiscontinuedoperationincomparableaccountingperiodintheincomestatementofthecomparativeperiod.
19.Debtinvestment
Fordebtinvestment,theCompanydeterminestheexpectedcreditlossoneachbalancesheetdateaccordingtothetypesofcounterpartiesandriskexposuresandinconsiderationofhistoricaldefaultandindustryforward-lookinginformationorvariousexternalactualandexpectedeconomicinformation.Forthedeterminationmethodandaccountingtreatmentmethodofexpectedcreditloss,pleaserefertotheprovisionsofItem(XI)FinancialInstrumentsofthisaccountingpolicy.
20.OtherdebtinvestmentForOtherdebtinvestment,theCompanydeterminestheexpectedcreditlossoneachbalancesheetdateaccordingtothetypesofcounterpartiesandriskexposuresandinconsiderationofhistoricaldefaultandindustryforward-lookinginformationorvariousexternalactualandexpectedeconomicinformation.Forthedeterminationmethodandaccountingtreatmentmethodofexpectedcreditloss,pleaserefertotheprovisionsofItem(XI)FinancialInstrumentsofthisaccountingpolicy.
21.Long-termaccountreceivable
TheCompany'slong-termreceivablesincludereceivablefinancialleaseandotherlong-termreceivables.ForthereceivablefinancialleaseformedbythetransactionsregulatedinAccountingStandardsforBusinessEnterprisesNo.21-Lease,thelossprovisionshallbemeasuredaccordingtotheamountequivalenttotheexpectedcreditlossduringthewholeduration.
Forotherlong-termreceivables,theCompanydeterminestheexpectedcreditlossoneachbalancesheetdateaccordingtothetypesofcounterpartiesandriskexposuresandinconsiderationofhistoricaldefaultandreasonableforward-lookinginformationorvariousexternalactualandexpectedeconomicinformation.Basedonwhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition,theCompanyadoptstheamountequivalenttotheexpectedcreditlossinthenext12monthsorthewholedurationtomeasuretheimpairmentlossoflong-termreceivables.Exceptforthelong-termreceivableswhosecreditriskisevaluatedindividually,theyaredividedintodifferentportfoliosbasedontheircreditriskcharacteristics:
| Portfolioname | Basisfordeterminingtheportfolio |
| Normallong-termreceivables | Thisportfolioisalong-termreceivablewithnooverduerisk |
| Overduelong-termreceivables | Thisportfolioisalong-termreceivablewithhighoverduerisk |
| …… |
22.Long-termequityinvestment
1.Basisfordeterminingjointcontrolandsignificantinfluenceontheinvestee
Jointcontrolreferstothecommoncontrolofanarrangementaccordingtotherelevantagreement,andthattherelatedactivitiesofthearrangementmustbeunanimouslyagreedbytheparticipantswhosharethecontrolrightsbeforemakingdecisions.Whenjudgingwhetherthereisjointcontrol,firstly,itisjudgedwhetherallparticipantsoragroupofparticipantscollectivelycontrolthearrangement.Ifallparticipantsoragroupofparticipantsmustactinconcerttodecidetherelatedactivitiesofanarrangement,itisconsideredthatallparticipantsoragroupofparticipantscollectivelycontrolthearrangement.Secondly,itisjudgedwhetherthedecisionoftherelatedactivitiesofthearrangementmustbeunanimouslyagreedbytheparticipantswhocollectivelycontrolthearrangement,andjointcontrolcanonlybeformedifandonlyifthedecisionoftherelatedactivitiesrequirestheunanimousconsentoftheparticipantswhocollectivelycontrolthearrangement.Iftherearetwoormoreparticipantswhocancollectivelycontrolanarrangement,itdoesnotconstitutejointcontrol.Whenjudgingwhetherthereisjointcontrol,theprotectiverightsenjoyedarenotconsidered.
Significantinfluencereferstothattheinvestorhastherighttoparticipateinthedecision-makingofthefinancialandoperatingpoliciesoftheinvestee,butitcannotcontrolorjointlycontroltheformulationofthesepolicieswithotherparties.Whendeterminingwhetherasignificantinfluencecanbeexertedontheinvestee,
considertheinfluenceoftheinvestor'sdirectorindirectholdingofthevotingsharesoftheinvesteeandthepotentialvotingrightsheldbytheinvestorandotherpartiesinthecurrentperiodafteritisassumedtobeconvertedintotheequityoftheinvestee,includingtheinfluenceofthecurrentconvertiblewarrants,stockoptionsandconvertiblecorporatebondsissuedbytheinvestee.Whenforeigninvestmentmeetsthefollowingconditions,itisgenerallydeterminedthatithasasignificantimpactontheinvestingunit:①ItisrepresentedintheBoardofDirectorsorsimilarauthorityoftheinvestee;②Itparticipatesintheformulationofthefinancialandbusinesspoliciesoftheinvestee;③Importanttransactionswiththeinvesteeoccur;④Managementpersonnelaresenttotheinvestee;⑤Keytechnicaldataisprovidedtotheinvestee.Whendirectlyorindirectlyowningmorethan20%butlessthan50%ofthevotingsharesoftheinvestee,itisgenerallyconsideredtohaveasignificantimpactontheinvestee.
2.Determinationofinitialinvestmentcost
(1)Long-termequityinvestmentformedbybusinessmergerA.Inthecaseofbusinessmergerunderthesamecontrol,ifcashpayment,transferofnon-cashassetsortakingondebtsandissuanceofequitysecuritiesareadoptedasthemergerconsideration,theinitialinvestmentcostoflong-termequityinvestmentshallbetheshareofthebookvalueoftheowners'equityofthemergedpartyintheconsolidatedfinancialstatementsofthefinalcontrollingpartyonthedateofmerger.Iftheinvesteeunderthesamecontrolcanbecontrolledduetoadditionalinvestmentandotherreasons,theinitialinvestmentcostoflong-termequityinvestmentshallbedeterminedaccordingtotheshareofthenetassetsofthemergedpartyinthebookvalueoftheconsolidatedfinancialstatementsofthefinalcontrollingpartyonthedateofmerger.Forthedifferencebetweentheinitialinvestmentcostofthelong-termequityinvestmentonthedateofmergerandthebookvalueofthelong-termequityinvestmentbeforethemergerplusthebookvalueofthenewlypaidconsiderationforthesharesonthedateofmerger,adjustthecapitalpremiumorsharecapitalpremium.Ifthecapitalpremiumorsharecapitalpremiumisinsufficienttooffset,theretainedincomewillbeoffset.
B.Forthebusinessmergernotunderthesamecontrol,themergercostshallbedeterminedastheinitialinvestmentcostoflong-termequityinvestmentonthedateofpurchaseinaccordancewiththerelevantprovisionsoftheAccountingStandardsforBusinessEnterprisesNo.20-BusinessMerger.Iftheinvesteesnotunderthesamecontrolcanbecontrolledduetoadditionalinvestmentandotherreasons,thesumofthebookvalueoftheoriginalequityinvestmentplusthenewinvestmentcostshallbetakenastheinitialinvestmentcostcalculatedbythecostmethod.
(2)Inadditiontothelong-termequityinvestmentformedbybusinessmerger,theinitialinvestmentcostoflong-termequityinvestmentobtainedbyothermeansshallbedeterminedinaccordancewiththefollowingprovisions:
A.Forlong-termequityinvestmentobtainedbypayingcash,theinitialinvestmentcostshallbetheactualpurchaseprice.Theinitialinvestmentcostincludesexpenses,taxesandothernecessaryexpensesdirectlyrelatedtoobtaininglong-termequityinvestment.
B.Forlong-termequityinvestmentobtainedbyissuingequitysecurities,theinitialinvestmentcostshallbethefairvalueofissuingequitysecurities.
C.Forlong-termequityinvestmentobtainedbyexchangeofnon-monetaryassets,theinitialinvestmentcostshallbedeterminedinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.7-ExchangeofNon-monetaryAssets.
D.Forlong-termequityinvestmentobtainedbydebtrestructuring,itsinitialinvestmentcostshallbedeterminedinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.12-DebtRestructuring.
3.Subsequentmeasurementandprofitandlossrecognitionmethod
(1)Accountingbycostmethod:Long-termequityinvestmentthatcanbecontrolledbytheinvesteeshallbeaccountedbycostmethod.Whenaccountingbycostmethod,thecostoflong-termequityinvestmentisadjustedbyaddingorrecoveringinvestment.Forthelong-termequityinvestmentaccountedbythecostmethod,exceptforthedeclaredbutundistributedcashdividendsorprofitsincludedinthepriceorconsiderationactuallypaidatthetimeofinvestment,theCompanyshallrecognizetheinvestmentincomeaccordingtothecashdividendsorprofitsdeclaredbytheinvestee,andnolongerdistinguishwhetheritbelongstothenetprofitrealizedbytheinvesteebeforeandaftertheinvestment.
(2)Accountingbyequitymethod:Forthelong-termequityinvestmentjointlycontrolledorsignificantlyinfluencedbytheinvestee,exceptfortheequityinvestmentintheassociatedenterprise,partofitisindirectlyheldbyventurecapitalinstitutions,mutualfunds,trustcompaniesorsimilarentitiesincludinginvestmentwithinsurancefunds,regardlessofwhethertheaboveentitieshaveasignificantinfluenceonthispartoftheinvestment,theCompanytomeasurethispartoftheindirectlyheldinvestmentatfairvaluewithitschangesincludedinprofitsandlossesinaccordancewiththerelevantprovisionsofAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments,andadoptstheequitymethodforaccounting.Whenaccountingbyequitymethod,aftertheCompanyobtainsthelong-termequityinvestment,theinvestmentincomeandothercomprehensiveincomearerecognizedrespectivelyaccordingtotheshareofthenetprofitandlossandothercomprehensiveincomerealizedbytheinvestee,andthebookvalueofthelong-termequityinvestmentisadjusted;TheCompanyshallcalculateitsshareaccordingtotheprofitorcashdividenddeclaredbytheinvestee,andcorrespondinglyreducethebookvalueoflong-termequityinvestment;TheCompanyshalladjustthebookvalueofthelong-termequityinvestmentandincludeitintheowners'equityforotherchangesintheowners'equityoftheinvesteeexceptthenetprofitandloss,othercomprehensiveincomeandprofitdistribution.TheCompanyrecognizesthenetlossoftheinvesteetotheextentthatthebookvalueofthelong-termequityinvestmentandotherlong-termrightsandintereststhatsubstantiallyconstitutethenetinvestmentoftheinvesteearewrittendowntozero,unlesstheCompanyhastheobligationtobearadditionallosses.Iftheinvesteerealizesthenetprofitinthefuture,theCompanywillresumetherecognitionoftheincomeshareaftertheincomesharemakesupfortheunrecognizedlossshare.Whenrecognizingtheshareofthenetprofitandlossoftheinvestee,theCompanywilladjustthenetprofitoftheinvesteebasedonthefairvalueoftheidentifiableassetsoftheinvesteeatthetimeofinvestment,andoffsetthegainsandlossesofinternaltransactionsbetweentheCompanyandassociatedenterprisesandjointventures,andrecognizetheinvestmentprofitandlossonthisbasis.TheinternaltransactionlossesbetweentheCompanyandtheinvesteeshallberecognizedinfulliftheybelongtoassetimpairmentlossesaccordingtotheAccountingStandardsforBusinessEnterprisesNo.8-AssetImpairment.IftheaccountingpoliciesandaccountingperiodsadoptedbytheinvesteeareinconsistentwiththoseoftheCompany,thefinancialstatementsoftheinvesteeshallbeadjustedaccordingtotheaccountingpoliciesandaccountingperiodsoftheCompany,soastorecognizetheinvestmentprofitsandlosses.
Long-termequityinvestmentsinassociatedenterprisesandjointventuresheldbeforethefirstexecutiondate,ifthereisanydebitdifferenceofequityinvestmentsrelatedtotheinvestment,shallbeamortizedbytheoriginalremainingtermstraight-linemethod,andtheamortizedamountshallbeincludedinthecurrentprofitsandlosses.
(3)Whendisposingoflong-termequityinvestment,thedifferencebetweenitsbookvalueandtheactualpurchasepriceisincludedinthecurrentprofitsandlosses.Ifthelong-termequityinvestmentaccountedbyequitymethodisincludedintheowners'equityduetootherchangesintheowners'equityoftheinvesteeexceptthenetprofitandloss,thepartoriginallyincludedintheowners'equitywillbetransferredtothecurrentprofits
andlossesinproportionwhendisposingoftheinvestment,exceptforothercomprehensiveincomearisingfromtheinvestee'sre-measurementofthechangesindefinedbenefitplannetliabilitiesornetassets.
23.InvestmentrealestateMeasurementmodeMeasuredbycostmethodDepreciationoramortizationmethod
Investmentrealestatereferstorealestateheldtoearnrentorcapitalappreciation,orboth.Itincludesleasedlanduserights,landuserightsheldandreadytobetransferredafterappreciation,andleasedbuildings.WhentheCompanycanobtainrentalincomeorvalue-addedincomerelatedtoinvestmentrealestateandthecostofinvestmentrealestatecanbemeasuredreliably,theCompanywillinitiallymeasureitaccordingtotheactualexpenditureofpurchaseorconstruction.
TheCompanyadoptsthecostmodeltomeasuretheinvestmentrealestateonthebalancesheetdate.Underthecostmodel,theCompanymeasurestheinvestmentrealestateandmakesdepreciationoramortizationinaccordancewiththeprovisionsofItem(23)FixedAssetsandItem(26)IntangibleAssetsofthisaccountingpolicy.Whentheinvestmentrealestateisdisposedof,orpermanentlywithdrawnfromuse,anditisnotexpectedtoobtaineconomicbenefitsfromitsdisposal,therecognitionoftheinvestmentrealestateshallbeterminated.WhentheCompanysells,transfers,scrapsordamagestheinvestmentrealestate,theamountofdisposalincomeafterdeductingitsbookvalueandrelevanttaxesshallbeincludedinthecurrentprofitsandlosses.
24.Fixedassets
(1)Recognitionconditions
Fixedassetsrefertotangibleassetswithaservicelifeofmorethanonefiscalyear,whichareheldforproducinggoods,providinglaborservices,leasingormanaging.
(2)Depreciationmethods
| Category | Method | Yearsofdepreciation | Scrapvaluerate | Yearlydepreciationrate |
| Housesandbuildings | Straight-linedepreciation | 20 | 10% | 4.5% |
| Machineryequipment | Straight-linedepreciation | 10 | 10% | 9% |
| Transportationequipment | Straight-linedepreciation | 5 | 10% | 18% |
| Electronicequipmentandothers | Straight-linedepreciation | 5 | 10% | 18% |
25.ConstructioninprogressTheconstructioninprogressismeasuredaccordingtotheactualcost,whichincludesallnecessaryprojectexpendituresincurredduringtheconstructionperiod,borrowingcoststhatshouldbecapitalizedbeforetheprojectreachesthescheduledserviceablestate,andotherrelatedexpenses.Constructioninprogressiscarriedforwardtofixedassetswhenitreachesthescheduledserviceablestate.Thecriteriaforscheduledserviceablestateshallmeetoneofthefollowingconditions:
(1)Thephysicalconstruction(includinginstallation)orproductionoffixedassetshasbeencompletelyorsubstantiallycompleted;
(2)Ithasbeenputintotrialproductionortrialoperation,andtheresultsshowthattheassetscannormallyproducequalifiedproducts,orthetrialoperationresultsshowthatitcanoperateoroperateproperly;
(3)Theamountofexpenditurethatcontinuestooccuronfixedassetspurchased,constructedorproducedisverysmalloralmostnone;
(4)Thefixedassetspurchased,constructedorproducedhavereachedthedesignorcontractrequirements,orarebasicallyinlinewiththedesignorcontractrequirements.
26.Borrowingexpenses
1.Recognitionprincipleofcapitalizationofborrowingcosts
Borrowingcostsincludeinterestincurredbyborrowing,amortizationofdiscountorpremiumandauxiliaryexpenses,aswellasexchangedifferenceincurredbyborrowinginforeigncurrency.IftheborrowingcostsincurredbytheCompanycanbedirectlyattributedtothepurchase,constructionorproductionofassetsthatmeetthecapitalizationconditions,theyshallbecapitalizedandincludedinthecostofrelevantassets;Otherborrowingcostsshallberecognizedasexpenseswhenincurredaccordingtotheamountincurred,andincludedinthecurrentprofitsandlosses.
Assetseligibleforcapitalizationincludefixedassets,investmentrealestate,inventoryandotherassetsthatneedtogothroughalongperiodofpurchase,constructionorproductionactivitiestoreachthepredeterminedserviceableorsaleablestate.
Borrowingcostsshallbecapitalizedwhenthefollowingconditionsaremetatthesametime:
(1)Assetexpenditurehasoccurred,includingtheexpenditureoccurredintheformofpayingcash,transferringnon-cashassetsorundertakinginterest-bearingdebtsforpurchasing,constructingorproducingassetsthatmeetcapitalizationconditions;
(2)Borrowingcostshavebeenincurred;
(3)Thepurchase,constructionorproductionactivitiesnecessarytomaketheassetsreachtheexpectedserviceableorsaleablestatehavestarted.
2.Periodofcapitalizationofborrowingcosts
Borrowingexpensesincurredforpurchasing,constructingorproducingassetsthatmeetthecapitalizationconditions,iftheymeettheabovecapitalizationconditionsandoccurbeforetheassetsreachthepredeterminedserviceableorsaleablestate,shallbeincludedinthecostoftheassets;Ifthepurchase,constructionorproductionactivitiesoftheassetsareabnormallyinterruptedformorethan3months,thecapitalizationofborrowingcostsshallbesuspendedandrecognizedascurrentexpensesuntilthepurchase,constructionorproductionactivitiesoftheassetsresume;Whenthepurchased,constructedorproducedassetsreachthepredeterminedserviceableorsaleablestate,thecapitalizationoftheirborrowingcostswillbestopped.Borrowingcostsincurredafterreachingtheintendedserviceableorsaleablestatearedirectlyincludedinfinancialexpensesinthecurrentperiod.
3.Calculationmethodofcapitalizedamountofborrowingcosts
Duringthecapitalizationperiod,thecapitalizationamountofinterest(includingamortizationofdiscountorpremium)ineachaccountingperiodshallbedeterminedinaccordancewiththefollowingprovisions:
(1)Whereaspecialborrowingisborrowedforthepurposeofpurchasing,constructingorproducingassetsthatmeetthecapitalizationconditions,itshallbedeterminedbytheactualinterestexpensesincurredinthecurrentperiodofthespecialborrowing,minustheinterestincomeobtainedbydepositingunusedborrowingfundsinthebankortheinvestmentincomeobtainedbytemporaryinvestment.
(2)Ifthegeneralborrowingisoccupiedforthepurposeofpurchasing,constructingorproducingassetsthatmeetthecapitalizationconditions,theinterestamountthatshouldbecapitalizedonthegeneralloanshallbecalculatedanddeterminedaccordingtotheweightedmeanoftheaccumulatedassetexpenditureexceedingthespecialborrowingportionmultipliedbythecapitalizationrateoftheoccupiedgeneralborrowing.
27.BiologicalassetsNone
28.OilandgasassetNone
29.Intangibleassets
(1)Servicelifeanditsdeterminationbasis,estimation,amortizationmethodorreviewprocedure
1.Servicelifeanditsdeterminationbasis,estimation,amortizationmethodorreviewprocedure
Intangibleassetsaremeasuredatactualcost.Thecostofoutsourcedintangibleassetsincludesthepurchaseprice,relevanttaxes,andotherexpensesdirectlyattributabletomakingtheassetsreachtheintendeduse.Ifintangibleassetsarepurchasedbyinstallment,andthepurchasepriceofintangibleassetsexceedsthe
normalcreditconditionsandactuallywithfinancingnature,thecostofintangibleassetsisthepresentvalueofthepurchaseprice.Thecostofintangibleassetsinvestedbyinvestorsshallbedeterminedaccordingtothevalueagreedintheinvestmentcontractoragreement.Ifthevalueagreedintheinvestmentcontractoragreementisunfair,itshallberecordedaccordingtothefairvalueofintangibleassets.Forintangibleassetsobtainedbyexchangeofnon-monetaryassets,theinitialinvestmentcostshallbedeterminedinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.7-ExchangeofNon-monetaryAssets.Forintangibleassetsobtainedbydebtrestructuring,itsinitialinvestmentcostshallbedeterminedinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.12-DebtRestructuring.Forintangibleassetsacquiredbymergerofenterprisesunderthesamecontrol,theirentryvalueshallbedeterminedaccordingtothebookvalueofthemergedparty;Forintangibleassetsacquiredbymergerofenterprisesnotunderthesamecontrol,theirentryvalueshallbedeterminedatthefairvalue.TheCompanyanalyzesandjudgestheservicelifeofintangibleassetswhenacquiringthem,anddividesthemintointangibleassetswithlimitedservicelifeandintangibleassetswithuncertainservicelife.Intangibleassetswithlimitedservicelifeshallbeamortizedwithintheexpectedservicelifebyadoptingtheamortizationmethodthatcanreflecttheexpectedrealizationmodeofeconomicbenefitsrelatedtosuchassetsfromthetimewhentheintangibleassetsareavailableforuse;Iftheexpectedrealizationmodecannotbereliablydetermined,straight-lineamortizationmethodshallbeadopted.Amortizationmethod,servicelife,determinationbasisandresidualrateofvariousintangibleassetswithlimitedservicelife:
| Category | Amortizationmethod | Servicelife(year) | Determinationbasis | Residualrate(%) |
| Landuseright | Straight-linemethod | 40-50years | Statutoryterm/registrationtermoflandusecertificate | 0.00 |
| Trademarkright | Straight-linemethod | 10years | Statutoryterm | 0.00 |
| Software | Straight-linemethod | 2-10years | Benefitperiod/contractperiod | 0.00 |
| Patent | Straight-linemethod | 5-10years | Benefitperiod/contractperiod | 0.00 |
| Non-patenttechnology | Straight-linemethod | 5-10years | Benefitperiod/contractperiod | 0.00 |
| Industrialpropertyrightsandproprietarytechnology | Straight-linemethod | 10years | Benefitperiod/contractperiod | 0.00 |
| Others | Straight-linemethod | 5-10years | Benefitperiod/contractperiod | 0.00 |
Attheendofeachyear,theCompanyreviewstheservicelifeandamortizationmethodofintangibleassetswithlimitedservicelife.Iftheservicelifeandamortizationmethodofintangibleassetsaredifferentfromthosepreviouslyestimated,theamortizationperiodandamortizationmethodshallbechanged.TheCompanyregardsintangibleassetswithunpredictablefutureeconomicbenefitsasintangibleassetswithuncertainservicelife,anddoesnotamortizeintangibleassetswithuncertainservicelife.TheCompany
reviewstheservicelifeofintangibleassetswithuncertainservicelifeineachaccountingperiod.Ifthereisevidencethattheservicelifeofintangibleassetsislimited,itsservicelifeshallbeestimateandtreatmentshallbecarriedoutaccordingtotheaboveprovisions.PleaserefertoItem(27)ImpairmentofLong-termAssetsinthisaccountingpolicyfordetailsontheimpairmenttestmethodandaccrualmethodforimpairmentprovisionofintangibleassets.
(2)CollectionscopeofR&Dexpenditureandrelatedaccountingtreatmentmethods
R&DexpenditureisdirectlyrelatedtoR&Dactivitiesoftheenterprise,includingR&Demployeecompensation,directinputexpenses,depreciationexpensesandlong-termdeferredexpenses,designexpenses,equipmentdebuggingexpenses,intangibleassetsamortizationexpenses,commissionedexternalR&Dexpenses,andotherexpenses.ThecollectionandcalculationofR&DexpenditureisbasedonthefactthatrelevantresourcesareactuallyinvestedinR&Dactivities.R&DexpenditureincludesexpensedR&Dexpenditureandcapitalizeddevelopmentexpenditure.
ThedivisionstandardofresearchstageexpenditureanddevelopmentstageexpenditureofR&Dprojects:
Researchstageexpenditurereferstotheexpenditureincurredbyoriginalplannedinvestigationforacquiringandunderstandingnewscientificortechnicalknowledge;Developmentstageexpenditurereferstotheexpenditureincurredbyapplyingresearchresultsorotherknowledgetoaplanordesigntoproduceneworsubstantiallyimprovedmaterials,devicesandproductsbeforecommercialproductionoruse.
ExpendituresofintangibleassetsdevelopedbytheCompanyitselfduringtheresearchstageofR&Dprojectsareincludedinthecurrentprofitsandlosseswhenincurred.Expenditureinthedevelopmentstageofthedevelopmentprojectcanonlyberecognizedasintangibleassetsifthefollowingconditionsaremetatthesametime:
(1)Itistechnicallyfeasibletocompletetheintangibleassetssothattheycanbeusedorsold;
(2)Ithastheintentiontocompletetheintangibleassetsanduseorsellthem;
(3)Forthewaysinwhichintangibleassetsgenerateeconomicbenefits,includingtheabilitytoprovethattheproductsproducedbyusingtheintangibleassetsexistinthemarketortheintangibleassetsthemselvesexistinthemarket,iftheintangibleassetswillbeusedinternally,theirusefulnessshallbeproved;
(4)Ithassufficienttechnical,financialandotherresourcestosupportthedevelopmentoftheintangibleassets,andhastheabilitytouseorselltheintangibleassets;
(5)Expenditureattributabletothedevelopmentstageoftheintangibleassetscanbereliablymeasured.Theexpenditureinthedevelopmentstagethathasbeenexpensedinthepreviousperiodisnolongeradjusted.
30.Impairmentoflong-termassetsNone
31.Long-termexpensestobeapportionedLong-termdeferredexpensesrefertotheexpensesthathavebeenincurredbytheCompanybutshouldbebornebythecurrentperiodandsubsequentperiodswithanamortizationperiodofmorethan1year,includingtheimprovementexpensesoffixedassetsrentedbyoperatinglease.Long-termdeferredexpensesshallbeamortizedevenlyduringthebenefitperiodofrelevantprojects.
| Category | Amortizationyears |
| Decorationandmaintenancefee | 3-6years |
32.Contractualliability
ContractualliabilitiesreflecttheCompany'sobligationtotransfergoodstocustomersforreceivedorreceivableconsiderationfromcustomers.IfthecustomerhaspaidthecontractconsiderationortheCompanyhasobtainedtheunconditionalrighttoreceivethecontractconsiderationbeforetheCompanytransfersthegoodstothecustomer,thecontractualliabilitiesshallberecognizedaccordingtotheamountreceivedorreceivablewhenthecustomeractuallyissuesthepaymentorthepaymentisdue,whicheverisearlier.
Contractassetsandcontractualliabilitiesunderthesamecontractarelistedonanetbasis,andcontractassetsandcontractualliabilitiesunderdifferentcontractsarenotoffset.
33.Employeecompensation
(1)Accountingtreatmentforshort-termcompensation
Short-termsalaryreferstotheemployee'ssalarythattheCompanyneedstopayinfullwithin12monthsaftertheendoftheannualreportperiodwhenemployeesproviderelevantservices,exceptpost-employmentbenefitsanddismissalbenefits.Duringtheaccountingperiodwhenemployeesprovideservices,theCompanyrecognizestheactualshort-termsalaryasaliability,andincludesitintorelevantassetcostsandexpensesaccordingtothebeneficiariesofemployees'services.
(2)Accountingtreatmentforpost-employmentbenefit
Post-employmentbenefitsrefertovariousformsofremunerationandbenefitsprovidedbytheCompanyafteremployeesretireorterminatelaborrelationswiththeCompanyinordertoobtainservicesprovidedbyemployees,exceptshort-termremunerationanddismissalbenefits.Post-employmentbenefitplansincludedefinedcontributionplananddefinedbenefitplans.Definedcontributionplanreferstothepost-employmentbenefitplaninwhichtheCompanywillnotundertakefurtherpaymentobligationsafterpayingafixedfeeforanindependentfund;Definedbenefitplanreferstothepost-employmentbenefitplanexceptthedefinedcontributionplan.
(1)Definedcontributionplan
Definedcontributionplanincludesbasicold-ageinsuranceandunemploymentinsurance.DuringtheaccountingperiodwhenemployeesprovideservicesfortheCompany,theamountpayableshallbecalculatedaccordingtothelocalpaymentbaseandproportion,recognizedasliabilities,andincludedinthecurrentprofitsandlossesorrelatedassetcosts.
Duringtheaccountingperiodwhenemployeesprovideservices,theamountpayablecalculatedaccordingtothedefinedcontributionplanisrecognizedasaliabilityandincludedinthecurrentprofitsandlossesorrelatedassetcosts.
(2)Definedbenefitplan
Accordingtotheformuladeterminedbytheexpectedcumulativebenefitunitmethod,theCompanyattributesthebenefitobligationsgeneratedbydefinedbenefitplantotheperiodwhenemployeesprovidedservices,andincludestheminthecurrentprofitsandlossesorrelatedassetcosts.TheemployeecompensationcostcausedbydefinedbenefitplanoftheCompanyincludesthefollowingcomponents:
A.Servicecosts,includingcurrentservicecosts,pastservicecostsandsettlementgainsorlosses.Currentservicecostsrefertotheincreaseinthepresentvalueofdefinedbenefitplanobligationscausedbyemployees'provisionofservicesinthecurrentperiod;Pastservicecostsrefertotheincreaseordecreaseofthepresentvalueofdefinedbenefitplanobligationsrelatedtoemployeeserviceinthepreviousperiodcausedbytherevisionofthedefinedbenefitplan.B.Netinterestofnetliabilitiesornetassetsindefinedbenefitplan,includingtheinterestincomeofplannedassets,theinterestexpenseofdefinedbenefitplanobligationsandtheinterestaffectedbytheassetceiling.C.Changesarisingfromre-measurementofnetliabilitiesornetassetsindefinedbenefitplan.
Unlessotheraccountingstandardsrequireorallowemployeebenefitcoststobeincludedintheassetcosts,theCompanywillincludetheaboveitemsAandBinthecurrentprofitsandlosses,andincludeItemCinothercomprehensiveincomewhichwillnotbetransferredbacktoprofitorlossinsubsequentaccountingperiods,buttheseamountsrecognizedinothercomprehensiveincomecanbetransferredwithinthescopeofequity.
(3)Accountingforretirementbenefits
DismissalbenefitsrefertothecompensationprovidedtoemployeesbytheCompanyforterminatingthelaborrelationshipwithemployeesbeforetheexpirationoftheirlaborcontractsorforencouragingemployeestovoluntarilyacceptlayoffs.IftheCompanyprovidesdismissalbenefitstoemployees,theemployeecompensationliabilitiesarisingfromthedismissalbenefitsshallberecognizedattheearlierofthefollowingtwodates,andincludedinthecurrentprofitsandlosses:whentheCompanycannotunilaterallywithdrawthedismissalbenefitsprovidedbytheplantoterminatelaborrelationsortheproposaltocutback;WhentheCompanyrecognizesthecostsorexpensesrelatedtothereorganizationinvolvingthepaymentofdismissalbenefits.
(4)Accountingforotherlong-termemployeebenefitsOtherlong-termemployeebenefitsrefertoallemployeecompensationexceptshort-termsalary,post-employmentbenefitsanddismissalbenefits,includinglong-termpaidabsences,long-termdisabilitybenefitsandlong-termprofitsharingplans.Otherlong-termemployeebenefitsprovidedbytheCompanytoemployees,iftheymeettherequirementsofthedefinedcontributionplan,shallbehandledinaccordancewiththerelevantprovisionsofthedefinedcontributionplan;Forotherlong-termemployeebenefitsotherthantheabove,thenetliabilitiesornetassetsofotherlong-termemployeebenefitsshallberecognizedandmeasuredaccordingtotherelevantregulationsofthedefinedbenefitplan.Attheendofthereportingperiod,theCompanyattributedthebenefitobligationsarisingfromotherlong-termemployeebenefitstotheperiodwhenemployeesprovidedservices,andincludedtheminthecurrentprofitsandlossesorrelatedassetcosts.
34.AccrualliabilityIftheCompany'sobligationrelatedtocontingenciesmeetthefollowingconditionsatthesametime,itwillberecognizedasaliability:(1)ThisobligationisthecurrentobligationundertakenbytheCompany;(2)Theperformanceofthisobligationmayleadtotheoutflowofeconomicbenefits;(3)Theamountoftheobligationcanbemeasuredreliably.
Allorpartoftheexpendituresrequiredfortheestimatedliabilitiesareexpectedtobecompensatedbythethirdpartyorotherparties,andthecompensationamountisrecognizedasanassetseparatelywhenitisbasicallydeterminedthatitcanbereceived,andtherecognizedcompensationamountdoesnotexceedthebookvalueoftherecognizedliabilities.Theestimatedliabilitiesareinitiallymeasuredaccordingtothebestestimateoftheexpenditurerequiredtoperformtherelevantcurrentobligations,withthefactorsrelatedtocontingencies,suchasrisks,uncertaintiesandtimevalueofmoney,comprehensivelyconsidered.Ifthetimevalueofmoneyhasasignificantimpact,thebestestimateshallbedeterminedbydiscountingtherelevantfuturecashoutflows.
Onthebalancesheetdate,theCompanyreviewsthebookvalueoftheestimatedliabilities.Ifthereisconclusiveevidencethatthebookvaluecannottrulyreflectthecurrentbestestimate,suchbookvaluewillbeadjustedaccordingtothecurrentbestestimate.
35.Share-basedpayment
1.Typesofshare-basedpayment
Share-basedpaymentoftheCompanyisdividedintocash-settledshare-basedpaymentandequity-settledshare-basedpayment.
Equity-settledshare-basedpaymentshallbemeasuredatthefairvalueofequityinstrumentsgrantedtoemployees.Ifitisexercisableimmediatelyafterthegrant,itwillbeincludedintherelevantcostsorexpensesaccordingtothefairvalueoftheequityinstrumentonthegrantdate,andthecapitalreservewillbeincreased
accordingly.Ifitisexercisableonlyaftertheservicewithinthewaitingperiodiscompletedorthespecifiedperformanceconditionsaremet,oneachbalancesheetdatewithinthewaitingperiod,theserviceobtainedinthecurrentperiodshallbeincludedintherelevantcostsorexpensesandcapitalreservebasedonthebestestimateofthenumberofexercisableequityinstrumentsandaccordingtothefairvalueonthegrantdateoftheequityinstruments.Afterthevestingdate,therecognizedrelatedcostsorexpensesandthetotalowners'equitywillnotbeadjusted.Cash-settledshare-basedpaymentshallbemeasuredatfairvalueofliabilitiescalculatedanddeterminedbasedonsharesorotherequityinstrumentsundertakenbytheCompany.Ifitisexercisableimmediatelyafterthegrant,itwillbeincludedintherelevantcostsorexpensesatthefairvalueoftheliabilitiesundertakenbytheCompanyonthegrantdate,andtheliabilitieswillbeincreasedaccordingly.Forcash-settledshare-basedpaymentexercisableaftertheserviceinthewaitingperiodiscompletedorthespecifiedperformanceconditionsaremet,theserviceobtainedinthecurrentperiodshallbeincludedinthecostsorexpensesandcorrespondingliabilitiesoneachbalancesheetdateduringthewaitingperiodbasedonthebestestimateofthevestingsituationandaccordingtothefairvalueoftheliabilitiesundertakenbytheCompany.Oneachbalancesheetdateandsettlementdatebeforethesettlementofrelatedliabilities,thefairvalueofliabilitiesisre-measured,anditschangesareincludedinthecurrentprofitsandlosses.
2.Accountingtreatmentrelatedtoimplementation,modificationandterminationofshare-basedpaymentplanNomatterhowthetermsandconditionsofthegrantedequityinstrumentsaremodified,oreventhegrantoftheequityinstrumentsiscancelledortheequityinstrumentsaresettled,theCompanyshallatleastrecognizethatthecorrespondingservicesobtainedaremeasuredaccordingtothefairvalueofthegrantedequityinstrumentsonthegrantdate,unlessthevestingconditionsoftheequityinstruments(exceptmarketconditions)cannotbemet.
IftheCompanycancelsthegrantedequityinstrumentsorsettlesthegrantedequityinstrumentswithinthewaitingperiod(exceptthosecancelledduetofailuretomeettheconditionsofvestingconditions),thetreatmentisasfollows:
(1)Thecancellationorsettlementwillbetreatedasacceleratedvesting,andtheamountthatshouldhavebeenrecognizedintheremainingwaitingperiodwillberecognizedimmediately.
(2)Allthemoneypaidtoemployeesatthetimeofcancellationorsettlementshallbetreatedastherepurchaseofequity,andthepartpaidforrepurchasethatishigherthanthefairvalueoftheequityinstrumentontherepurchasedateshallbeincludedinthecurrentexpenses.
(3)Ifanewequityinstrumentisgrantedtoemployees,anditisdeterminedthatthenewequityinstrumentgrantedisusedtoreplacethecancelledequityinstrumentonthegrantdateofthenewequityinstrument,theCompanyshallhandlethegrantedalternativeequityinstrumentinthesamewayasthemodificationofthetermsandconditionsoftheoriginalequityinstrument.
36.OtherfinancialinstrumentsincludingpreferredstockandperpetualbondsNone
37.RevenueDisclosureofaccountingpoliciesadoptedinincomerecognitionandmeasurementaccordingtobusinesstypes
TheCompanyhasfulfilleditscontractualobligations,thatis,torecognizetheincomewhenthecustomerobtainsthecontrolrightofrelevantgoods.Performanceobligationreferstothecommitmenttotransferclearlydistinguishablegoodstocustomersinthecontract.TheCompanyevaluatesthecontractonthecontractstartdatetoidentifyeachindividualperformanceobligationcontainedinthecontract.Ifthefollowingconditionsaremetatthesametime,itisclearlydistinguishablegoods:
(1)Customerscanbenefitfromthegoodsitselforfromtheuseofthegoodsalongwithothereasilyavailableresources;
(2)Thecommitmenttotransferthegoodstocustomerscanbedistinguishedseparatelyfromothercommitmentsinthecontract.
Thefollowingsituationsusuallyindicatethatthecommitmenttotransferthegoodstocustomerscannotbedistinguishedseparatelyfromothercommitmentsinthecontract:
(1)Significantservicesneedtobeprovidedtointegratethegoodsandothergoodspromisedinthecontractintothecombinedoutputagreedinthecontractandtransferittocustomers;
(2)Thegoodswillmakemajormodificationsorcustomizationstoothergoodspromisedinthecontract;
(3)Thegoodsarehighlycorrelatedwithothergoodspromisedinthecontract.
ThetransactionpriceistheamountofconsiderationthattheCompanyisexpectedtoreceivefortransferringthegoodstocustomers,excludingthepaymentcollectedonbehalfofthirdpartiesandthepaymentthattheCompanyisexpectedtoreturntocustomers.Whendeterminingthetransactionpriceofthecontract,ifthereisavariableconsideration,theCompanywilldeterminethebestestimateofthevariableconsiderationaccordingtotheexpectedvalueorthemostlikelyamount,andincludeitinthetransactionpriceatanamountnotexceedingtheamountthatisunlikelytobesignificantlyreversedwhentherelevantuncertaintyiseliminated.Ifthereisasignificantfinancingcomponentinthecontract,theCompanywilldeterminethetransactionpriceaccordingtotheamountpayableincashwhenthecustomerobtainsthegoodscontrolright,andthedifferencebetweenthetransactionpriceandthecontractconsiderationwillbeamortizedbytheeffectiveinterestratemethodduringthecontractperiod.Iftheintervalbetweenthecustomerobtainingthegoodscontrolrightandthecustomerpayingthepriceislessthanoneyear,theCompanywillnotconsiderthefinancingcomponent.WhentheconsiderationthattheCompanyhastherighttocollectfromthecustomerduetothetransferofgoodsisintheformofnon-cash,theCompanywilldeterminethetransactionpriceaccordingtothefairvalueofthenon-cashconsiderationonthecontractstartdate.Ifthefairvalueofthenon-cash
considerationcannotbereasonablyestimated,theCompanywillindirectlydeterminethetransactionpricewithreferencetotheindividualsellingpriceofthegoodsitpromisedtotransfertocustomers.ForthepaymentthattheCompanyexpectstoreturntocustomers,exceptforobtainingotherclearlydistinguishablegoodsfromcustomers,theconsiderationpayableshallbeusedtooffsetthetransactionprice.Iftheconsiderationpayabletocustomersexceedsthefairvalueofclearlydistinguishablegoodsobtainedfromcustomers,theexcessamountshallbeusedastheconsiderationpayabletocustomerstooffsetthetransactionprice.Ifthefairvalueofclearlydistinguishablegoodsobtainedfromcustomerscannotbereasonablyestimated,theCompanywillfullyoffsetthetransactionpricefromtheconsiderationpayabletocustomers.Whencarryingoutaccountingtreatmentonthetransactionpriceoffsetbytheconsiderationpayabletocustomers,theCompanywilloffsetthecurrentincomeatthelatertimeofrecognizingtherelevantincomeandpaying(orpromisingtopay)thecustomerconsideration.Ifthecontractcontainstwoormoreperformanceobligations,theCompanywillallocatethetransactionpricetoeachindividualperformanceobligationaccordingtotherelativeproportionoftheindividualsellingpriceofthegoodspromisedbyeachindividualperformanceobligationonthecontractstartdate,andmeasuretheincomeaccordingtothetransactionpriceallocatedtoeachindividualperformanceobligation.Incaseofsubsequentchangesinthetransactionprice,theCompanywillallocatethesubsequentchangestotheperformanceobligationsinthecontractaccordingtothebasisadoptedonthecontractstartdate.Thetransactionpricewillnotbere-allocatedduetothechangeofindividualsellingpriceafterthecontractstartdate.Ifanyofthefollowingconditionsismet,theCompanywillperformitsobligationswithinacertainperiodoftime;Otherwise,itisafulfillmentofperformanceobligationatacertaintimepoint:
(1)CustomersgainandconsumetheeconomicbenefitsbroughtbytheCompany'sperformanceatthesametime;
(2)CustomerscancontrolthegoodsunderconstructionduringtheperformanceoftheCompany;
(3)ThegoodsproducedduringtheperformanceoftheCompanyhaveirreplaceableuses,andtheCompanyhastherighttocollectpaymentfortheaccumulatedpartoftheperformancecompletedsofarduringthewholecontractperiod.Fortheperformanceobligationsperformedinacertainperiodoftime,theCompanyshallrecognizetheincomeaccordingtotheperformanceprogressduringthatperiod,exceptthattheperformanceprogresscannotbereasonablydetermined.TheCompanydeterminestheperformanceprogressofprovidedservicesaccordingtotheinputmethod.Whentheperformanceprogresscannotbereasonablyrecognized,ifthecostalreadyincurredbytheCompanyisexpectedtobecompensated,therevenuewillberecognizedaccordingtothecostamountalreadyincurreduntiltheperformanceprogresscanbereasonablyrecognized.
Fortheperformanceobligationsfulfilledatacertaintimepoint,theCompanyrecognizestheincomewhenthecustomerobtainsthecontrolrightofrelevantgoods.Whenjudgingwhetherthecustomerhasobtainedthecontrolofthegoods,theCompanywillconsiderthefollowingsigns:
(1)TheCompanyisentitledtotherightofrealtimepaymentcollectionforthegoods,thatis,thecustomerhastherealtimepaymentcollectionobligationforthegoods;
(2)TheCompanyhastransferredthelegalownershipofthegoodstothecustomer,thatis,thecustomerhasthelegalownershipofthegoods;
(3)TheCompanyhastransferredthegoodsinkindtothecustomer,thatis,thecustomerhasoccupiedthegoodsinkind;
(4)TheCompanyhastransferredthemainrisksandrewardsontheownershipofthegoodstothecustomer,thatis,thecustomerhasobtainedthemainrisksandrewardsontheownershipofthegoods;
(5)Thecustomerhasacceptedthegoods.AccordingtowhethertheCompanyhascontroloverthegoodsorservicesbeforetransferringthemtocustomers,theCompanyjudgeswhetheritisthemainresponsiblepersonortheagentwhenengagingintransactions.IftheCompanycancontrolthegoodsorservicesbeforetransferringthemtocustomers,theCompanyisthemainresponsibleperson,andtheincomeisrecognizedaccordingtothetotalconsiderationreceivedorreceivable;Otherwise,theCompanyisanagent,andwillrecognizetheincomeaccordingtotheexpectedamountofcommissionorhandlingfee,whichisdeterminedaccordingtothenetamountofthetotalconsiderationreceivedorreceivableafterdeductingthepricepayabletootherinterestedparties,oraccordingtotheestablishedcommissionamountorproportion.
ThesituationsinwhichtheCompanycancontrolthegoodsbeforetransferringthemtocustomersincludethefollowing:
(1)Theenterprisetransfersthecontrolrightofgoodsorotherassetstothecustomerafteritobtainsitfromathirdparty;
(2)Theenterprisecanleadthethirdpartytoprovideservicestocustomersonbehalfoftheenterprise;
(3)Aftertheenterpriseobtainsthecontrolrightofthegoodsfromthethirdparty,itintegratesthegoodswithothergoodsintoacombinedoutputandtransfersittothecustomerbyprovidingsignificantservices.
Whenjudgingwhetherithascontroloverthegoodsbeforetransferringthemtocustomers,theCompanycomprehensivelyconsidersallrelevantfactsandcircumstances,including:
(1)Theenterprisebearsthemainresponsibilityfortransferringgoodstocustomers;
(2)Theenterprisebearstheinventoryriskofthegoodsbeforeoraftertheirtransfer;
(3)Theenterprisehastherighttodecidethepricesofthegoodsfortradeindependently;
(4)Otherrelevantfactsandcircumstances.Differentincomerecognitionmethodsandmeasurementmethodsinvolvedindifferentbusinessmodelsadoptedbysimilarbusinesses
TheCompany'scommoditysalesmainlyincludecirculationsales,shoppingmalljointoperationandproprietarye-commerce,andtherecognitionmethodsofsalesrevenuethesethreewaysareasfollows:
(1)CirculationsalesreferstothattheCompanyrecognizesthesalesrevenuewhenthegoodsaredeliveredtothecustomerandtheauthorizedrepresentativeorthefirstcarrierrecognizedbythecustomeratthedesignatedplace,andthecustomerandtheauthorizedrepresentativeorthefirstcarrierhavesignedforit,andtheCompanyhasreceivedthepaymentorobtaineddeliverydocuments.
(2)TheshoppingmalljointoperationistheCompanycooperateswiththeshoppingmalltocarryoutjointsalesintheformofcountersintheshoppingmall,andaccordingtotheagreementsignedwiththeshoppingmall,theshoppingmallcollectsthepaymentwhentheCompany'scounterssellgoodstocustomers,andtheCompanyandtheshoppingmallcarryoutsalessettlement.TheshoppingmallpaystheCompanyafterreconcilingwiththeCompanyattheagreedsettlementtime(generallythenextmonth)anddeductingtheincomeandrelatedexpensesenjoyedbytheshoppingmall.TheCompanyrecognizesthesalesrevenueafterdeductingthedeductionprofitbelongingtotheshoppingmallaccordingtothefullamountofthecompletedtransactionofactualsalesinthemonth.
(3)Proprietarye-commercereferstothattheCompanyretailsthroughthird-partye-commerceplatforms(suchasTmallandJD.COM),andrecognizesthesalesrevenuewhenthecustomersignsforthegoodsandobtainsthepaymentorpaymentright.
38.ContractcostContractcostsincludeincrementalcostsincurredinobtainingcontractandcontractperformancecosts.TheincrementalcostsincurredtoobtainthecontractrefertothecoststhattheCompanywouldnothaveincurredifthecontracthadnotbeenobtained(e.g.,salescommission,etc.).Ifthecostisexpectedtoberecovered,theCompanyrecognizesitasanassetforthecostsofacquiringthecontract.ExpensesincurredbytheCompanyinobtainingthecontract,otherthantheincrementalcoststhatareexpectedtoberecovered,areincludedinprofitorlossforthecurrentperiodwhenincurred.
Ifthecostsincurredfortheperformanceofthecontractarenotsubjecttothescopeoftherelevantstandardssuchasinventory,fixedassetsorintangibleassets,andthefollowingconditionsaremetatthesametime,theCompanyrecognizesthemasanassetforcontractperformancecosts:
(1)thecostisdirectlyrelatedtoacurrentorananticipatedcontract,includingdirectlabor,directmaterials,manufacturingexpenses(orsimilarexpenses),costsexpresslybornebythecustomerandothercostsincurredsolelyasaresultofthecontract;
(2)thecostincreasestheresourcesthattheenterprisewillusetofulfillitsperformanceobligationsinthefuture;
(3)thecostisexpectedtoberecovered.
Theassetasrecognizedbythecostofacquiringthecontractandtheassetasrecognizedbythecostofperformanceofthecontractareamortizedonthesamebasisastherevenuerecognitionofthegoodsorservicesrelatedtotheassets,andareincludedinprofitorlossforthecurrentperiod.Ifthecarryingamountofanassetrelatedtothecontractcostishigherthanthefollowingtwodifferences,theCompanyshallmakeanimpairmentprovisionfortheexcessandrecognizeitasanassetimpairmentloss:
(1)Theresidualconsiderationthattheenterpriseisexpectedtoreceiveasaresultofthetransferofcommoditiesrelatedtotheasset;
(2)Anestimateofthecoststobeincurredforthetransferoftherelevantgoods.
Ifthefactorsofimpairmentinthepreviousperiodchangesubsequently,sothatthedifferenceby(1)minus(2)ishigherthanthecarryingamountoftheasset,theoriginalprovisionforimpairmentoftheassetshallbereversedandincludedintheprofitorlossforthecurrentperiod,butthecarryingamountofthereversedassetshallnotexceedthecarryingamountoftheassetonthereversaldateassumingthatnoprovisionforimpairmentismade.
39.Governmentsubsidies
1.Typesofgovernmentsubsidies
Governmentsubsidiesrefertothemonetaryassetsornon-monetaryassetsobtainedbythecompanyfromthegovernmentfreeofcharge,includinggovernmentsubsidiesrelatedtoassetsandgovernmentsubsidiesrelatedtoincome.
Asset-relatedgovernmentsubsidiesrefertogovernmentsubsidiesobtainedbyacompanyfortheacquisition,constructionorotherformationoflong-termassets.
Income-relatedgovernmentsubsidiesrefertogovernmentsubsidiesotherthanasset-relatedgovernmentsubsidies.
2.Theprincipleandtimingofrecognitionofgovernmentsubsidies
Recognitionprincipleofgovernmentsubsidies:
(1)Thecompanyisabletomeettheconditionsattachedbythegovernmentsubsidy;
(2)Thecompanyisabletoreceivegovernmentsubsidies.
Thegovernmentsubsidycanonlyberecognizediftheaboveconditionsaremetatthesametime.
3.Measurementofgovernmentsubsidies
(1)Ifthegovernmentsubsidyisamonetaryasset,thecompanyshallmeasureitaccordingtotheamountreceivedorreceivable;
(2)Ifthegovernmentsubsidyisanon-monetaryasset,thecompanyshallmeasureitatfairvalue,andifthefairvaluecannotbereliablyobtained,itshallbemeasuredatthenotionalamount(thenotionalamountisRMB1).
4.Accountingtreatmentofgovernmentsubsidies
(1)Asset-relatedgovernmentsubsidiesarewrittenoffthecarryingamountoftheunderlyingassetsorrecognizedasdeferredincomeuponacquisition.Ifitisrecognizedasdeferredincome,itshallbeincludedinprofitorlossininstallmentsinaccordancewithareasonableandsystematicmethodduringtheusefullifeoftherelevantasset.Governmentsubsidiesmeasuredinnotionalamountsaredirectlyincludedinprofitorlossforthecurrentperiod.
(2)Governmentsubsidiesrelatedtoincomeshallbehandledasfollows:
A.Ifitisusedtocompensatethecompanyfortherelevantcosts,expensesorlossesinsubsequentperiods,itshallberecognizedasdeferredincomeatthetimeofacquisition,andshallbeincludedintheprofitorlossforthecurrentperiodoroffsettherelevantcostsduringtheperiodwhentherelevantcosts,expensesorlossesarerecognized.B.Ifitisusedtocompensatefortherelevantcosts,expensesorlossesincurredbythecompany,itshallbedirectlyincludedinthecurrentprofitorlossoroffsettherelevantcostswhenacquired.
(3)Forgovernmentsubsidiesthatareincludedinboththeasset-relatedpartandtheincome-relatedpart,iftheycanbedistinguished,theyshallbeaccountedforseparatelyindifferentparts,andifitisdifficulttodistinguish,theyshallbeclassifiedasincome-relatedgovernmentsubsidiesasawhole.
(4)Governmentsubsidiesrelatedtothecompany'sroutineoperationsshallbeincludedinotherincomeoroffsetrelatedcostsandexpensesaccordingtotheeconomicbusinesssubstance.Governmentsubsidiesunrelatedtothecompany'sroutineactivitiesareincludedinnon-operatingincomeandexpenditure.Ifthefinancedepartmentdirectlyallocatesthediscountfundstothecompany,thecompanywilloffsettherelevantborrowingcostswiththecorrespondingdiscount.
(5)Iftheconfirmedgovernmentsubsidyneedstobereturned,itshallbehandledaccordingtothefollowingcircumstances:
A.Ifthecarryingamountoftherelevantassetisreducedatthetimeofinitialrecognition,thecarryingamountoftheassetshallbeadjusted.
B.Ifthereisrelevantdeferredincome,thecarryingamountoftherelevantdeferredincomeshallbewrittenoff,andtheexcesspartshallbeincludedintheprofitorlossforthecurrentperiod.C.Ifitbelongstoothercircumstances,itshallbedirectlyincludedintheprofitorlossforthecurrentperiod.
40.Deferredtaxassets/deferredtaxliabilitiesWhenthecompanyacquiresassetsandliabilities,itdeterminesitstaxbase.Ifthereisatemporarydifferencebetweenthecarryingamountofassetsandliabilitiesandtheirtaxbase,thedeferredtaxassetsordeferredtaxliabilitiesarisingfromthemshallberecognizedinaccordancewiththeregulations.
1.Recognitionofdeferredtaxassets
(1)Thecompanyrecognizesdeferredtaxassetsarisingfromdeductibletemporarydifferencestotheextentthatitislikelytoobtaintaxableincomethatcanbeusedtooffsetdeductibletemporarydifferences.However,deferredtaxassetsarisingfromtheinitialrecognitionofassetsorliabilitiesarenotrecognizedintransactionsthat(1)isnotabusinesscombination,and(2)thetransactiondoesnotaffecteitheraccountingprofitsortaxableincome(ordeductiblelosses)atthetimeofthetransaction.
(2)TheCompanyrecognizesthecorrespondingdeferredtaxassetsfordeductibletemporarydifferencesrelatedtoinvestmentsinsubsidiaries,associatesandjointventuresthatmeetthefollowingconditionsatthesametime:
(1)thetemporarydifferencesarelikelytobereversedintheforeseeablefuture,and(2)thetaxableincomeusedtooffsetthedeductibletemporarydifferencesislikelytobeobtainedinthefuture.
(3)Fordeductiblelossesandtaxcreditsthatcanbecarriedforwardtosubsequentyearsinaccordancewiththeprovisionsofthetaxlaw,theyshallbetreatedasdeductibletemporarydifferences,andthecorrespondingdeferredtaxassetsshallberecognizedtotheextentthatthefuturetaxableincomethatislikelytobeusedtooffsetthedeductiblelossesandtaxcredits.
2.Recognitionofdeferredtaxliabilities
(1)Thecompanyrecognizesalldeferredtaxliabilitiesarisingfromtaxabletemporarydifferences,exceptforthedeferredincometaxliabilitiesarisingfromthefollowingtransactions:(1)theinitialrecognitionofgoodwill,and(2)theinitialrecognitionofassetsorliabilitiesarisingfromtransactionsthatsatisfyboththefollowingcharacteristics:thetransactionisnotabusinesscombination,andthetransactiondoesnotaffecteithertheaccountingprofitorthetaxableincome(ordeductibleloss)atthetimeofthetransaction.
(2)TheCompanyrecognizesthecorrespondingdeferredtaxliabilitiesfortaxabletemporarydifferencesrelatedtoinvestmentsinsubsidiaries,associatesandjointventures,butotherthanthosewiththefollowingconditions
aremetatthesametime:(1)theinvestmententerprisecancontrolthetimeforthereversalofthetemporarydifference,and(2)thetemporarydifferenceislikelynottobereversedintheforeseeablefuture.
3.PresentationofnetoffsetsofdeferredtaxassetsanddeferredtaxliabilitiesWhenthecompanyhasthelegalrighttosettleonanetbasisandintendstosettleonanetbasisoracquireassetsandsettleliabilitiesatthesametime,thecompany'scurrentincometaxassetsandcurrentincometaxliabilitiesarepresentedonanetbasisafteroffset.Whenthereisalegalrighttosettlethecurrentincometaxassetsandcurrentincometaxliabilitiesonanetbasis,andthedeferredtaxassetsanddeferredtaxliabilitiesarerelatedtotheincometaxleviedbythesametaxcollectionandadministrationdepartmentonthesametaxpayerorleviedbythesametaxcollectionandadministrationdepartmenttodifferenttaxsubjects,butineachperiodofreversalofdeferredtaxassetsandliabilitiesofmaterialnatureinthefuture,thetaxpayerinvolvedintendstosettlethecurrentincometaxassetsandliabilitiesonanetbasisoracquiretheassetsandsettleliabilitiesatthesametime,thedeferredtaxassetsanddeferredtaxliabilitiesoftheCompanyarepresentedonanetbasisafteroffset.
41.Leasing
(1)Accountingtreatmentasalesseelease
(1)Right-of-useassetsOnthecommencementdateoftheleaseterm,theCompany,asthelessee,recognizestherighttousetheleasedassetduringtheleasetermasright-of-useasset,exceptforshort-termleasesandleasesoflow-valueassets.
Right-of-useassetsareinitiallymeasuredatcost,whichincludes:
A.Initialmeasurementamountoftheleaseliability;B.Ifthereisaleaseincentivefortheleasepaymentpaidonorbeforethestartdateoftheleaseterm,therelevantamountoftheleaseincentivealreadyenjoyedshallbededucted;C.Initialdirectcostsincurred;D.Costsexpectedtobeincurredtodismantleandremovetheleasedasset,restorethesiteonwhichtheleasedassetislocated,orrestoretheleasedassettotheconditionagreedintheleaseterms,exceptfortheproductionofinventory.TheCompanyadoptsthecostmodelforthesubsequentmeasurementofright-of-useassets,andadoptsthestraight-linemethodfordepreciationofvarioustypesofright-of-useassets.
IftheCompanyisabletoreasonablydeterminethattheownershipoftheleasedassetswillbeacquiredattheexpirationoftheleaseterm,thedepreciationshallbeaccruedduringtheremainingusefullifeoftheleasedassets,andifitcannotbereasonablydeterminedthattheownershipoftheleasedassetscanbeacquiredattheexpirationoftheleaseterm,thedepreciationshallbeaccruedduringtheperiodwhichisshorterfromtheleasetermandtheremainingusefullifeoftheleasedassets.Iftheright-of-useassetisimpaired,theCompanywillcarryoutsubsequentdepreciationbasedonthecarryingamountoftheright-of-useassetafterdeductingtheimpairmentloss.WhentheCompanyremeasuresleaseliabilitiesbasedonthepresentvalueofthechangedleasepaymentsandadjuststhecarryingamountofright-of-useassetsaccordingly,ifthecarryingamountofright-of-useassetshasbeenreducedtozero,buttheleaseliabilitiesstillneedtobefurtherreduced,theremainingamountwillbeincludedinprofitorlossforthecurrentperiod.Theimpairmenttestmethodandimpairmentprovisionmethodofright-of-useassetsaredetailedin(XXVII)Impairmentoflong-termassetsofthisaccountingpolicy.
(2)Leaseliabilities
Atthecommencementdateoftheleaseterm,theCompanyrecognizesthepresentvalueofunpaidleasepaymentsasleaseliabilities,excludingshort-termleasesandleasesoflow-valueassets.
Whencalculatingthepresentvalueoftheleasepayment,theCompany,asthelessee,usestheinterestrateimplicitintheleaseasthediscountrate,andiftheinterestrateimplicitintheleasecannotbedetermined,theincrementalborrowingrateoftheCompanyisusedasthediscountrate.
TheCompanycalculatestheinterestexpenseofleaseliabilitiesforeachperiodoftheleasetermatafixedperiodicinterestrateandincludestheminprofitorlossforthecurrentperiod.Variableleasepaymentsthatarenotincludedinthemeasurementofleaseliabilitiesarerecognizedinprofitorlossforthecurrentperiodwhentheyareactuallyincurred.
Afterthecommencementdateoftheleaseterm,theCompanywillremeasuretheleaseliabilitybasedonthepresentvalueofthechangedleasepaymentintheeventofachangeintheamountofthesubstantialfixedpayment,achangeintheestimatedamountpayablefortheresidualvalueoftheguarantee,achangeintheindexorratiousedtodeterminetheamountoftheleasepayment,achangeintheevaluationresultoractualexerciseoftheoptiontopurchase,reneworterminatetheoption.
(3)Short-termleasesandleasesoflow-valueassets
Ashort-termleaseisaleasewithaleaseperiodofnotmorethan12monthsonthestartdateoftheleasetermanddoesnotincludeanoptiontopurchase.Aleaseofalow-valueassetreferstoaleasewithalowvaluewhenasingleleasedassetisabrand-newasset.IftheCompanysubleasesorexpectstosubleasetheleasedassets,theoriginalleaseisnotalow-valueassetlease.
TheCompanychoosesnottorecognizeright-of-useassetsandleaseliabilitiesforshort-termleasesandleasesoflow-valueassets,andtoincludetherelevantleasepaymentsinprofitorlossorthecostofrelatedassetsonastraight-linebasisforeachperiodoftheleaseterm.
（2）Accountingtreatmentasalessor'slease
Ontheleasecommencementdate,theCompanydividestheleaseintothefinanceleaseandtheoperatinglease.Afinancialleasereferstoaleasethatsubstantiallytransfersalmostalloftherisksandrewardsassociatedwiththeownershipoftheleasedasset,regardlessofwhethertheownershipisultimatelytransferred.Operatingleasesrefertoleasesotherthanfinancialleases.WhentheCompanyactsasasubleaselessor,itclassifiesthesubleasebasedontheright-of-useassetsgeneratedfromtheoriginallease.
(1)Accountingtreatmentofoperatingleases
Leasereceiptsfromoperatingleasesarerecognizedasrentalincomeonastraight-linebasisforeachperiodoftheleaseterm.TheCompanycapitalizestheinitialdirectexpensesincurredinconnectionwiththeoperatingleaseandapportionthemtoprofitorlossforthecurrentperiodonthesamebasisastherentalincomerecognitionduringtheleaseterm.Variableleasepaymentsthatarenotincludedinleasereceiptsarerecognizedinprofitorlossforthecurrentperiodwhentheyareactuallyincurred.
(2)Accountingtreatmentoffinancialleases
Ontheleasecommencementdate,theCompanyrecognizesthefinancialleasereceivablesforthefinancialleaseandterminatestherecognitionofthefinancialleaseassets.WhentheCompanyinitiallymeasuresthefinancialleasereceivables,thenetleaseinvestmentisrecordedastheentryvalueofthefinancialleasereceivables.Thenetleaseinvestmentisthesumoftheunsecuredresidualvalueandthepresentvalueofleasereceiptsnotyetreceivedatthestartdateoftheleasetermdiscountedattheinterestrateimplicitinthelease.
TheCompanycalculatesandrecognizesinterestincomeforeachperiodoftheleasetermatafixedperiodicinterestrate.Thederecognitionandimpairmentoffinancialleasereceivablesaredescribedin(Xl)Financialinstrumentsofthisaccountingpolicy.
Variableleasepaymentsthatarenotincludedinthenetmeasurementofleaseinvestmentsarerecognizedinprofitorlossfortheperiodwhentheyareactuallyincurred.
42.OtherimportantaccountingpolicyandestimationNone
43.Changesofimportantaccountingpolicyandestimation
(1)Changesofimportantaccountingpolicy
□Applicable?Notapplicable
(2)Changesofimportantaccountingestimation
□Applicable?Notapplicable
（3）TheCompanystartedimplementingtheupdatedaccountingstandardscommencingfrom2025andadjustedtherelevantitemsinthefinancialstatementsatthebeginningoftheveryyearinvolvedintheinitialimplementationofthesaidstandards
□Applicable?Notapplicable
44.OtherNoneVI.Taxes
1.Maintaxandtaxrate
| Typeoftax | Taxcalculationevidence | Taxrate |
| Valueaddedtax | Salesofgoods,taxablelaborservicerevenue,taxableincome,intangibleassetsincomeandincomefrompropertyleasing | 5%,6%,9%,13% |
| Citymaintenance&constructiontax | VATpayable | 7% |
| Enterpriseincometax | Taxableincome | Seebelowfordetails |
| EducationFeeSurcharge | VATpayable | 3% |
| Localeducationfeesurcharge | VATpayable | 2% |
Disclosereasonsfordifferenttaxpayingbody
| Taxpayingbody | Incometaxrate |
| ShenzhenChinaBicycleCompany(Holdings)Co.,Ltd. | 25% |
| ShenzhenXinsenJewelryGoldCo.,Ltd | 25% |
| ShenzhenXinsenPrecisionManufacturingCo.,Ltd. | 20% |
| ShenzhenJiuchengCultureTechnologyCo.,Ltd. | 20% |
| ShenzhenJinjiuchengIntangibleCulturalHeritageInheritanceCo.,Ltd. | 20% |
| DongguanXinsenJewelryCo.,Ltd. | 20% |
| ShenzhenEmmelleIndustrialCo.,Ltd. | 20% |
| ShenzhenEmmelleCloudTechnologyCo.,Ltd. | 20% |
| FujianHuaxinbaoJewelryCo.,Ltd. | 20% |
| PutianKaipuTechnologyPartnership(LP) | Dividefirstandthentax |
| ShenzhenHuabaoZhenxuanJewelryCo.,Ltd. | 20% |
| HainanShenhuaIndustrialCo.,Ltd. | 20% |
| ShenzhenCloudPreferredJewelryTechnologyCo.,Ltd. | 20% |
| HangzhouHuabaohuiDigitalCultureCo.,ltd. | 20% |
| TibetJinyayaTradingCo.,Ltd. | 20% |
| ZhenhuaInternationalCo.,Ltd. | 16.50% |
2.Taxpreference
ThesubsidiariesShenzhenXinsenPrecisionManufacturingCo.,Ltd.,ShenzhenJiuchengCultureTechnologyCo.,Ltd.,ShenzhenJinjiuchengIntangibleCulturalHeritageInheritanceCo.,Ltd.,DongguanXinsenJewelryCo.,Ltd.,ShenzhenEmmelleIndustrialCo.,Ltd.,ShenzhenEmmelleCloudTechnologyCo.,Ltd.,FujianHuaxinbaoJewelryCo.,Ltd.,HainanShenhuaIndustrialCo.,Ltd.,ShenzhenCloudPreferredJewelryTechnologyCo.,Ltd.,HangzhouHuabaohuiDigitalCultureCo.,Ltd.andTibetJinyayaTradingCo.,Ltd..meettheconditionsof"smallandlow-profitenterprises",andaccordingtotheregulationsofNo.12[2023]announcementoftheStateAdministrationofTaxationoftheMinistryofFinance"AnnouncementonFurtherSupportingtheDevelopmentofSmallandMicroEnterprisesandIndividualIndustrialandCommercialHouseholds",forsmallenterpriseswithsmallprofit,theincometaxpolicyforthetaxableincomewillbereducedtobe25%tocalculateandtheenterpriseincometaxpaidattherateof20%willbeextendeduntilDecember31,2027.
3.OtherNoneVII.NotestoItemsintheConsolidatedFinancialStatements
1.Monetaryfund
InRMB
| Item | Endingbalance | Openingbalance |
| Cashonhand | 24,644.40 | 48,364.40 |
| Bankdeposit | 59,128,554.97 | 80,750,939.08 |
| Othermonetaryfund | 1,389.61 | 175,057.11 |
| Total | 59,154,588.98 | 80,974,360.59 |
| Including:totalamountdepositedinoverseas | 38,949.18 |
Othernote：
2.Tradingfinancialassets
None
3.DerivativefinancialassetsNone
4.Notereceivable
(1)CategoryNotapplicable
（2）AccordingtothebaddebtprovisionmethodclassificationdisclosureIftheprovisionforbaddebtsofnotesreceivableismadeinaccordancewiththegeneralmodelofexpectedcreditlosses,pleaserefertothedisclosureofotheraccountreceivabletodiscloserelatedinformationaboutbad-debtprovisions:
□Applicable?Notapplicable
(3)Baddebtprovisionaccrual,collectedorreversalintheperiodAccrualofbaddebtprovisionintheperiod:
InRMB
| Category | Openingbalance | Currentchanges | Endingbalance | |||
| Accrual | Collectedorreversal | Writeoff | Other | |||
Includingimportantamountofbaddebtprovisioncollectedorreversalintheperiod:
□Applicable?Notapplicable
(4)Notereceivablepledgedatperiod-end
InRMB
| Item | Amountpledgedatperiod-end |
(5)Notereceivablewhichhaveendorsedanddiscountatperiod-endandhasnotexpiredonbalancesheetdate
InRMB
| Item | Amountderecognitionatperiod-end | Amountnotderecognitionatperiod-end |
(6)Notereceivableactuallywritten-offintheperiod
InRMB
| Item | Amountwrittenoff |
Includingimportantnotereceivablewritten-off:
InRMB
| Enterprise | Nature | Amountwrittenoff | Causes | Procedure | Amountcausebyrelatedtransactionsornot(Y/N) |
Explanationonnotereceivablewritten-off:
5.Accountreceivable
（1）DisclosureaccordingtotheagingofaccountByaccountage
InRMB
| Aging | Balanceinyear-end | BalanceYear-beginning |
| Withinoneyear(oneyearincluded) | 162,228,968.19 | 232,431,363.63 |
| 1-2years | 1,085,673.30 | 772,381.68 |
| 2-3years | 12,171,870.69 | 12,218,313.35 |
| Over3years | 14,224,153.33 | 14,282,063.33 |
| 3-4years | 10,762,472.02 | 10,764,196.13 |
| 4-5years | 1,264,775.39 | 1,263,051.28 |
| Over5years | 2,196,905.92 | 2,254,815.92 |
| Total | 189,710,665.51 | 259,704,121.99 |
（
）Accordingtothebaddebtprovisionmethodclassificationdisclosure
InRMB
| Category | Amountinyear-end | BalanceYear-beginning | ||||||||
| BookBalance | Baddebtprovision | Bookvalue | BookBalance | Baddebtprovision | Bookvalue | |||||
| Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
| Accrualofbaddebtprovisionbysingle | 26,348,657.31 | 13.89% | 26,081,503.96 | 98.99% | 267,153.35 | 26,453,009.97 | 10.19% | 25,072,994.46 | 94.78% | 1,380,015.51 |
| Including： | ||||||||||
| Singleidentification | 26,348,657.31 | 13.89% | 26,081,503.96 | 98.99% | 267,153.35 | 26,453,009.97 | 10.19% | 25,072,994.46 | 94.78% | 1,380,015.51 |
| Accrualofbaddebtprovisionbyportfolio | 163,362,008.20 | 86.11% | 617,686.48 | 0.38% | 162,744,321.72 | 233,251,112.02 | 89.81% | 1,022,492.94 | 0.44% | 232,228,619.08 |
| Including： | ||||||||||
| Agingportfolio | 163,362,008.20 | 86.11% | 617,686.48 | 0.38% | 162,744,321.72 | 233,251,112.02 | 89.81% | 1,022,492.94 | 0.44% | 232,228,619.08 |
| Total | 189,710,665.51 | 100.00% | 26,699,190.44 | 14.07% | 163,011,475.07 | 259,704,121.99 | 100.00% | 26,095,487.40 | 10.05% | 233,608,634.59 |
Baddebtprovisionaccrualonsinglebasis:Singleidentification
InRMB
| Name | Openingbalance | Endingbalance | ||||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | Accrualratio | Reasonforaccrual | |
| GuangshuiJiaxuEnergyTechnologyCo.,Ltd. | 22,019,832.63 | 20,918,841.00 | 22,019,832.63 | 22,019,832.63 | 100.00% | Expectedtobedifficulttorecover |
| SuzhouDamingVehicleIndustryCo.,Ltd. | 891,564.42 | 713,251.54 | 878,654.42 | 702,923.54 | 80.00% | Expectedtobedifficulttorecover |
| SuzhouJiaxinEconomicTradeCo.,Ltd. | 888,757.00 | 888,757.00 | 888,757.00 | 888,757.00 | 100.00% | Expectedtobedifficulttorecover |
| DongguanDaxiangNewEnergyCo.,Ltd. | 564,734.00 | 564,734.00 | 549,734.00 | 549,734.00 | 100.00% | Expectedtobedifficulttorecover |
| NingboFanxingNewEnergyTechnologyCo.,Ltd. | 503,555.00 | 402,844.00 | 457,112.34 | 365,689.87 | 80.00% | Expectedtobedifficulttorecover |
| ShijiazhuangDasongTech.Co.,Ltd | 497,064.00 | 497,064.00 | 497,064.00 | 497,064.00 | 100.00% | Expectedtobedifficulttorecover |
| GuangdongXinlingjiaNewEnergyCo.,Ltd. | 348,136.00 | 348,136.00 | 348,136.00 | 348,136.00 | 100.00% | Expectedtobedifficulttorecover |
| ShanghaiSiwenElectricVehicleCo.,Ltd. | 280,197.50 | 280,197.50 | 250,197.50 | 250,197.50 | 100.00% | Expectedtobedifficulttorecover |
| FuzhouDayangCommercialCo.,Ltd. | 147,804.28 | 147,804.28 | 147,804.28 | 147,804.28 | 100.00% | Expectedtobedifficulttorecover |
| TianjinHuijuElectricVehicleCo.,Ltd. | 116,840.14 | 116,840.14 | 116,840.14 | 116,840.14 | 100.00% | Expectedtobedifficulttorecover |
| Other | 194,525.00 | 194,525.00 | 194,525.00 | 194,525.00 | 100.00% | Expectedtobedifficulttorecover |
| Total | 26,453,009.97 | 25,072,994.46 | 26,348,657.31 | 26,081,503.96 | ||
Baddebtprovisionaccrualonportfolio:Agingportfolio
InRMB
| NameoftheCompany | Endingbalance | ||
| Bookbalance | Baddebtprovision | Accrualratio | |
| Within1year | 162,228,968.19 | 211,262.67 | 0.13% |
| 1-2years | 928,673.10 | 264,835.64 | 28.52% |
| 2-3years | 202,642.80 | 139,864.06 | 69.02% |
| 3-4years | |||
| 4-5years | 1,724.11 | 1,724.11 | 100.00% |
| Over5years | |||
| Total | 163,362,008.20 | 617,686.48 | |
Explanationonportfoliobasis:
Iftheprovisionforbaddebtsofaccountreceivableismadeinaccordancewiththegeneralmodelofexpected
creditlosses,pleaserefertothedisclosureofotheraccountreceivabletodiscloserelatedinformationaboutbad-debtprovisions:
□Applicable?Notapplicable
(3)Baddebtprovisionaccrual,collectedorreversalintheperiodAccrualofbaddebtprovisionintheperiod:
InRMB
| Category | Openingbalance | Currentchanges | Endingbalance | |||
| Accrual | Collectedorreversal | Writeoff | Other | |||
| Accountsreceivablewithindividualprovisionforbaddebts | 25,072,994.46 | 1,008,509.50 | 26,081,503.96 | |||
| Provisionforbaddebtsbasedonaportfolioofcreditriskcharacteristics | 1,022,492.94 | 404,806.46 | 617,686.48 | |||
| Total | 26,095,487.40 | 1,008,509.50 | 404,806.46 | 26,699,190.44 | ||
Includingimportantamountofbaddebtprovisioncollectedorreversalintheperiod:
InRMB
| Nameoftheorganization | Amountrecoveredorreversed | Reasonforreversal | Recoverymethod | Thebasisandrationalityfordeterminingtheprovisionratiooforiginalbaddebtprovision |
(4)Accountreceivablesactuallywrite-offduringthereportingperiod
InRMB
| Item | Amountwrittenoff |
Includingmajoraccountreceivableswrite-off:
InRMB
| Enterprise | Nature | Amountwrittenoff | Causes | Procedure | Amountcausebyrelatedtransactionsornot(Y/N) |
Explanationonaccountreceivablewrite-off:
(5)Thetopfiveaccountsreceivableandcontractassetsattheendoftheperiodaggregatedaccordingtodebtor
InRMB
| Nameoftheorganization | Endingbalanceofaccountsreceivable | Endingbalanceofcontractassets | Endingbalanceofaccountsreceivableandcontractassets | Proportiontothetotalendingbalanceofaccountsreceivableandcontractassets | Endingbalanceofaccountsreceivablebaddebtprovisionandcontractassetimpairmentprovision |
| ShenzhenYunshangJewelryCo.,Ltd. | 39,422,819.30 | 39,422,819.30 | 20.78% | 3,942.28 | |
| FuzhouRongrunJewelryCo.,Ltd | 37,974,476.12 | 37,974,476.12 | 20.02% | 3,797.45 | |
| FuxhouCangshanDingjueJewelryCompany | 31,458,994.23 | 31,458,994.23 | 16.58% | 3,145.90 | |
| GuangshuiJiaxuEnergyTechnologyCo.,Ltd. | 22,019,832.63 | 22,019,832.63 | 11.61% | 22,019,832.63 | |
| FuzhouZhuanjinsenJewelryCo.,Ltd. | 21,139,146.55 | 21,139,146.55 | 11.14% | 2,113.91 | |
| Total | 152,015,268.83 | 152,015,268.83 | 80.13% | 22,032,832.17 |
6.Contractassets
(1)Informationofcontractassets
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |
(2)Thesignificantamountchangeinbookvalueduringthereportingperiodanditsreason
InRMB
| Item | Theamountofchange | Reasonforchange |
（3）Accordingtothebaddebtprovisionmethodclassificationdisclosure
InRMB
| Category | Amountinyear-end | BalanceYear-beginning | ||||||||
| BookBalance | Baddebtprovision | Bookvalue | BookBalance | Baddebtprovision | Bookvalue | |||||
| Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
| Inducing | ||||||||||
| Including | ||||||||||
Provisionforbaddebtsismadeaccordingtothegeneralmodelofexpectedcreditlosses
□Applicable?Notapplicable
(4)Baddebtprovisionaccrual,collectedorreversalintheperiod
InRMB
| Item | Accrual | Collectedorreversal | Writeoff | Reason |
Thereinto,theimportantamountofbaddebtprovisionrecoveredorreversedinthecurrentperiod:
InRMB
| Nameoftheorganization | Amountrecoveredorreversed | Reasonforreversal | Recoverymethod | Thebasisandrationalityfordeterminingtheprovisionratiooforiginalbaddebtprovision |
Othernote：
（5）Contractassetsactuallywrittenoffinthecurrentperiod
InRMB
| Item | Amountwrittenoff |
IncludingimportantContractassetwritten-off:
InRMB
| Name | Natureofamount | Write-offamount | Reasonforwrite-off | Write-offproceduresforfulfillment | Whetherthepaymentisgeneratedbyarelatedpartytransaction |
Write-offexplanation:
Othernote：
7.Receivablefinancing
（1）Classificationofreceivablesfinancing
InRMB
| Item | Endingbalance | Openingbalance |
（2）Accordingtothebaddebtprovisionmethodclassificationdisclosure
InRMB
| Category | Amountinyear-end | BalanceYear-beginning | ||||||||
| BookBalance | Baddebtprovision | Bookvalue | BookBalance | Baddebtprovision | Bookvalue | |||||
| Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
| Inducing | ||||||||||
| Including | ||||||||||
Provisionforbaddebtsismadeaccordingtothegeneralmodelofexpectedcreditlosses
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | |
| January1,2025balanceinthecurrentperiod |
ThebasisforthedivisionofeachstageandtheproportionofbaddebtprovisionExplanationofthesignificantchangesinthebookbalanceofreceivablesfinancingwithchangesinlossprovisionsinthecurrentperiod:
（3）Baddebtprovisionaccrual,collectedorreversalintheperiod
InRMB
| Category | Openingbalance | Currentchanges | Endingbalance | |||
| Accrual | Collectedorreversal | Writeoff | Other | |||
InRMB
| Nameoftheorganization | Amountrecoveredorreversed | Reasonforreversal | Recoverymethod | Thebasisandrationalityfordeterminingtheprovisionratiooforiginalbaddebtprovision |
Othernote：
（4）FinancingofaccountsreceivablepledgedbytheCompanyattheendoftheperiod
InRMB
| Item | Pledgedamountattheendoftheperiod |
（5）FinancingofaccountsreceivablethathavebeenendorsedordiscountedbytheCompanyattheendoftheperiodandhavenotyetmaturedonthebalancesheetdate
InRMB
| Item | Theamountofderecognitionattheendoftheperiod | Theamountnotderecognizedattheendoftheperiod |
（6）Financingsituationofaccountsreceivableactuallywrittenoffinthisperiod
InRMB
| Item | Write-offamount |
Thewriteoffinformationofimportantaccountsreceivablefinancingthereinto
InRMB
| Name | Natureofamount | Write-offamount | Reasonforwrite-off | Write-offproceduresforfulfillment | Whetherthepaymentisgeneratedbyarelatedpartytransaction |
Write-offexplanation:
(7)Changesinaccountsreceivablefinancingandfairvaluechangesinthecurrentperiod
（8）OthernoteNone
8.Otheraccountreceivable
InRMB
| Item | Endingbalance | Openingbalance |
| Otheraccountreceivable | 1,049,976.57 | 18,883,650.76 |
| Total | 1,049,976.57 | 18,883,650.76 |
(1)Interestreceivable
1)Category
InRMB
| Item | Endingbalance | Openingbalance |
2)Importantoverdueinterest
InRMB
| Borrower | Endingbalance | Overduetime | Overduereason | Impairment(Y/N)andjudgmentbasis |
Othernote:
3)Accrualofbaddebtprovision
□Applicable?Notapplicable4）Baddebtprovisionaccrual,collectedorreversalintheperiod
InRMB
| Category | Openingbalance | Currentchanges | Endingbalance | |||
| Accrual | Collectedorreversal | Writeoff | Other | |||
Includingimportantamountofbaddebtprovisioncollectedorreversalintheperiod:
InRMB
| Nameoftheorganization | Amountrecoveredorreversed | Reasonforreversal | Recoverymethod | Thebasisandrationalityfordeterminingtheprovisionratiooforiginalbaddebtprovision |
Othernote：
5)Interestreceivableactuallywrittenoffinthecurrentperiod
InRMB
| Item | Write-offamount |
ImportantInterestreceivableswrite-offsthereinto
InRMB
| Name | Natureofamount | Write-offamount | Write-offreason | Write-offproceduresforfulfillment | Whetherthepaymentisgeneratedbyarelatedpartytransaction |
Note：
Othernote：
(2)Dividendreceivable
1)Category
InRMB
| Item(ortheinvestedentity) | Endingbalance | Openingbalance |
2)Importantdividendreceivablewithoveroneyearaged
InRMB
| Item(ortheinvestedentity) | Endingbalance | Accountage | Causesoffailureforcollection | Impairment(Y/N)andjudgmentbasis |
3)Accrualofbaddebtprovision
□Applicable?Notapplicable4）Baddebtprovisionaccrual,collectedorreversalintheperiod
InRMB
| Category | Openingbalance | Currentchanges | Endingbalance | |||
| Accrual | Collectedor | Writeoff | Other | |||
Includingimportantamountofbaddebtprovisioncollectedorreversalintheperiod:
InRMB
reversalNameoftheorganization
| Nameoftheorganization | Amountrecoveredorreversed | Reasonforreversal | Recoverymethod | Thebasisandrationalityfordeterminingtheprovisionratiooforiginalbaddebtprovision |
Othernote：
5)Dividendsreceivableactuallywrittenoffinthecurrentperiod
InRMB
| Item | Write-offamount |
Importantdividendreceivableswrite-offsthereinto
InRMB
| Name | Natureofamount | Write-offamount | Write-offreason | Write-offproceduresforfulfillment | Whetherthepaymentisgeneratedbyarelatedpartytransaction |
Note：
Othernote：
(3)OtherAccountreceivable
1)Bynature
InRMB
| Nature | Endingbookbalance | Openingbookbalance |
| Performancecompensation | 18,154,754.41 | |
| Depositormargin | 860,931.86 | 719,345.30 |
| Personalloanofemployees | 198,789.59 | 63,952.14 |
| Paymentforequipment | 311,400.00 | 311,400.00 |
| Currentaccount | 245,397.16 | 189,200.47 |
| Other | 0.00 | 9,157.90 |
| Total | 1,616,518.61 | 19,447,810.22 |
2）Byaccountaging
InRMB
| Aging | Endingbookbalance | Openingbookbalance |
| Withinoneyear(oneyearincluded) | 615,306.31 | 18,602,799.92 |
| 1-2years | 457,774.90 | 294,831.92 |
| 2-3years | 166,706.40 | 123,447.38 |
| Over3years | 376,731.00 | 426,731.00 |
| 3-4years | 10,200.00 | |
| 4-5years | 5,631.00 | 15,831.00 |
| Over5years | 360,900.00 | 410,900.00 |
| Total | 1,616,518.61 | 19,447,810.22 |
3)Accrualofbaddebtprovision?Applicable□Notapplicable
InRMB
| Category | Amountinyear-end | BalanceYear-beginning | |||||||||
| BookBalance | Baddebtprovision | Bookvalue | BookBalance | Baddebtprovision | Bookvalue | ||||||
| Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | ||||
| Including | |||||||||||
| Accrualofbaddebtprovisionbyportfolio | 1,616,518.61 | 100.00% | 566,542.04 | 35.05% | 1,049,976.57 | 19,447,810.22 | 100.00% | 564,159.46 | 2.90% | 18,883,650.76 | |
| Including | |||||||||||
| Agingportfolio | 1,616,518.61 | 100.00% | 566,542.04 | 35.05% | 1,049,976.57 | 1,293,055.81 | 6.65% | 564,159.46 | 43.63% | 728,896.35 | |
| RelatedPortfolio | 18,154,754.41 | 93.35% | 18,154,754.41 | ||||||||
| Total | 1,616,518.61 | 100.00% | 566,542.04 | 35.05% | 1,049,976.57 | 19,447,810.22 | 100.00% | 564,159.46 | 2.90% | 18,883,650.76 | |
Baddebtprovisionaccrualonportfolio:Agingportfolio
InRMB
| NameoftheCompany | Endingbalance | ||
| Bookbalance | Baddebtprovision | Accrualratio | |
| Withinoneyear(oneyearincluded) | 615,306.31 | 34,226.19 | 5.56% |
| 1-2years | 457,774.90 | 87,251.90 | 19.06% |
| 2-3years | 166,706.40 | 68,332.95 | 40.99% |
| 3－4years | 10,200.00 | 10,200.00 | 100.00% |
| 4－5years | 5,631.00 | 5,631.00 | 100.00% |
| Over5years | 360,900.00 | 360,900.00 | 100.00% |
| Total | 1,616,518.61 | 566,542.04 | |
Provisionforbaddebtsismadeaccordingtothegeneralmodelofexpectedcreditlosses
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceonJanuary1,2025 | 564,159.46 | 564,159.46 | ||
| January1,2025balanceinthecurrent |
| period | |||
| ReversalinCurrentYear | 2,382.58 | 2,382.58 | |
| BalanceonJune30,2025 | 566,542.04 | 566,542.04 |
ThebasisforthedivisionofeachstageandtheproportionofbaddebtprovisionExplanationofthesignificantchangesinthebookbalanceofreceivablesfinancingwithchangesinlossprovisionsinthecurrentperiod:
□Applicable?Notapplicable
4）Baddebtprovisionaccrual,collectedorreversalintheperiodAccrualofbaddebtprovisionintheperiod:
InRMB
| Category | Openingbalance | Currentchanges | Endingbalance | |||
| Accrual | Collectedorreversal | Writeoff | Other | |||
| Provisionforbaddebtsaccordingtothecombinationofcreditrisk | 564,159.46 | 2,382.58 | 566,542.04 | |||
| Total | 564,159.46 | 2,382.58 | 566,542.04 | |||
Importantamountofbaddebtprovisionswitch-backorcollectionintheperiod:
InRMB
| Nameoftheorganization | Amountrecoveredorreversed | Reasonforreversal | Recoverymethod | Thebasisandrationalityfordeterminingtheprovisionratiooforiginalbaddebtprovision |
5）Otheraccountreceivablesactuallywrite-offduringthereportingperiod
InRMB
| Item | Amountwrittenoff |
Includingmajorotheraccountreceivableswrite-off:
InRMB
| Enterprise | OtherNature | Amountwrittenoff | Causes | Procedure | Amountcausebyrelatedtransactionsornot(Y/N) |
OtherNoteonaccountreceivablewrite-off:
6）Top5otheraccountreceivablecollectedbyarrearspartyatendingbalance
InRMB
| Enterprise | Nature | Endingbalance | Accountage | Proportionintotalotheraccountreceivablesatperiod-end | Endingbalanceofbadbetprovision |
| ShenzhenLuweiMechatronicEquipmentCo.,Ltd | Paymentforequipment | 300,000.00 | Over5years | 18.56% | 300,000.00 |
| ShenzhenLuohuGovernmentPropertyManagementOffice | Marginordeposit | 285,257.66 | 1-2years | 17.65% | 39,228.49 |
| LiNiansheng | Employeeloan | 120,000.00 | Within1year | 7.42% | 8,208.00 |
| ChowTaiSengJewelryCo.,Ltd. | Marginordeposit | 100,000.00 | 1-2years | 6.19% | 19,060.00 |
| ZhouLiuFuE-commerceCo.,Ltd | Marginordeposit | 100,000.00 | 1-2years | 6.19% | 19,060.00 |
| Total | 905,257.66 | 56.01% | 385,556.49 |
7)ReportedinotherreceivablesduetocentralizedmanagementoffundsOthernote：
9.Accountspaidinadvance
(1)Accountspaidinadvancebyageing
InRMB
| Accountage | Endingbalance | Openingbalance | ||
| Amount | Ratio | Amount | Ratio | |
| Withinoneyear | 675,634.48 | 100.00% | 912,207.69 | 97.90% |
| 1-2years | 19,554.91 | 2.10% | ||
| Total | 675,634.48 | 931,762.60 | ||
Explanationonun-settlementintimeforadvancepaymentwithoveroneyearaccountageandmajoramounts:
(2)Top5advancepaymentatendingbalancebyprepaymentobject
| Name | Endingbalance | Ratiointotaladvanceepayment(%) |
| ZhouliufuJewelryCo.,Ltd. | 509,272.00 | 75.38% |
| ShenzhenThinkingJewelryDisplayProductsCo.,Ltd | 109,551.00 | 16.21% |
| ShenzhenCuiluGoldBusiness | 21,838.28 | 3.23% |
| ShenzhenCraftsmanFamilyJewelryCo.,Ltd. | 17,543.61 | 2.60% |
| ShenzhenZhiringLotTechnologyCo.,Ltd. | 7,074.00 | 1.05% |
| Total | 665,278.69 | 98.47% |
Othernote：
10.InventoryWhethercompaniesneedtocomplywiththedisclosurerequirementsoftherealestateindustryNo
(1)Category
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Provisionforinventorydepreciationorcontractperformancecostimpairmentprovision | Bookvalue | Bookbalance | Provisionforinventorydepreciationorcontractperformancecostimpairmentprovision | Bookvalue | |
| Rawmaterials | 198,795,922.29 | 322,212.17 | 198,473,710.12 | 31,921,986.22 | 322,212.17 | 31,599,774.05 |
| Goodsinventory | 41,511,272.43 | 511,250.39 | 41,000,022.04 | 34,467,919.55 | 524,712.50 | 33,943,207.05 |
| Consignedprocessingmaterials | 4,234,862.62 | 75,901.24 | 4,158,961.38 | 18,882,595.14 | 75,901.24 | 18,806,693.90 |
| Total | 244,542,057.34 | 909,363.80 | 243,632,693.54 | 85,272,500.91 | 922,825.91 | 84,349,675.00 |
（
）Dataresourcesrecognizedasinventory
InRMB
| Items | Inventoryofoutsourceddataresources | Inventoryofselfprocesseddataresources | Inventoryofdataresourcesobtainedbyothermeans | Total |
(3)Provisionforinventorydepreciationorcontractperformancecostimpairmentprovision
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | ||
| Accrual | Other | Switchbackorcharge-off | Other | |||
| 322,212.17 | 322,212.17 | |||||
| Goodsinventory | 524,712.50 | 13,462.11 | 511,250.39 | |||
| Consignedprocessingmaterials | 75,901.24 | 75,901.24 | ||||
| Total | 922,825.91 | 13,462.11 | 909,363.80 | |||
Provisionforinventorypricedeclinethatismadeonaportfoliobasis
InRMB
| PortfolioName | Endofperiod | Beginningofperiod | ||||
| Endingbalance | Provisionforpricedecline | Proportionofprovisionforpricedecline | Openingbalance | Provisionforpricedecline | Proportionofprovisionforpricedecline | |
Thestandardforaccruingtheprovisionforinventorypricedeclinebyportfolio
(4)Theexplanationoftheendingbalanceoftheinventorycontainsthecapitalizedamountofborrowingcosts
(5)Explanationoftheamortizationamountofcontractperformancecostsforthecurrentperiod
11.Assetsheldforsale
InRMB
| Item | Endingbookbalance | Impairmentprovision | Endingbookvalue | Fairvalue | Expecteddisposalexpenses | Expecteddisposaltime |
Othernote:
12.Non-currentassetduewithinoneyear
InRMB
| Item | Endingbalance | Openingbalance |
（1）Debtinvestmentduewithinoneyear
□Applicable?Notapplicable
（2）OtherDebtinvestmentduewithinoneyear
□Applicable?Notapplicable
13.Othercurrentassets
InRMB
| Item | Endingbalance | Openingbalance |
| Inputtaxtobededucted | 144,057.34 | 880,765.71 |
| Tobecertifiedinputtax | 16,357,917.13 | 1,248,868.44 |
| Advancepaymentofenterpriseincometax | 77.82 | 266.18 |
| Taxamounttobereceived | 0.00 | 804,887.25 |
| Total | 16,502,052.29 | 2,934,787.58 |
Othernote：
14.Debtinvestment
（1）Debtinvestment
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
Changesinimpairmentprovisionsfordebtinvestmentsinthecurrentperiod
InRMB
| Item | Openingbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance |
（2）Importantdebtinvestment
InRMB
| Debtinvestment | Endingbalance | Openingbalance | ||||||
| Facevalue | Couponrate | Actualrate | Duedate | Facevalue | Couponrate | Actualrate | Duedate | |
（3）Accrualofimpairmentprovision
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| January1,2025balanceinthecurrentperiod |
Thebasisforthedivisionofeachstageandtheproportionofbaddebtprovision
(4)Informationofdebtinvestmentactuallywrittenoffinthecurrentperiod
InRMB
| Item | Write-offamount |
Informationofwrite-offofimportantdebtinvestmentsthereinto.DebtInvestmentWrite-offExplanation:
Changeofbookbalanceoflossprovisionwithamounthasmajorchangesintheperiod
□Applicable?NotapplicableOthernote：
15.Otherdebtinvestment
（1）Otherdebtinvestment
InRMB
| Item | Openingbalance | Accruedinterest | Changeoffairvalueintheperiod | Endingbalance | Cost | Cumulativechangesoffairvalue | Cumulativelossimpairmentrecognizedinothercomprehensiveincome | Note |
Changesinprovisionforimpairmentofotherdebtinvestmentsinthecurrentperiod
InRMB
| Item | Openingbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance |
（2）Importantdebtinvestment
InRMB
| Debtinvestment | Endingbalance | Openingbalance | ||||||
| Facevalue | Couponrate | Actualrate | Duedate | Facevalue | Couponrate | Actualrate | Duedate | |
（3）Accrualofimpairmentprovision
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| January1,2025balanceinthecurrentperiod |
Thebasisforthedivisionofeachstageandtheproportionofbaddebtprovision
（4）Otherdebtinvestmentsactuallywrittenoffduringtheperiod
InRMB
| Item | Write-offamount |
Otherimportantdebtinvestmentwrite-offsthereinto:
Explanationforwrite-offofotherdebtinvestments:
Changeofbookbalanceoflossprovisionwithamounthasmajorchangesintheperiod
□Applicable?NotapplicableOthernote：
16.Investmentinotherequityinstrument
InRMB
| Itemname | Endingbalance | Openingbalance | Gainsrecognizedinothercomprehen | Lossrecognizedinothercomprehen | Accumulatedgainsrecognizedinother | Accumulatedlossesrecognizedinother | Dividendincomerecognizedinthe | Reasonfordesignatedinfairvalue |
| siveincomeforthecurrentperiod | siveincomeforthecurrentperiod | comprehensiveincomeattheendofthecurrentperiod | comprehensiveincomeattheendofthecurrentperiod | currentperiod | measurementwithchangesrecognizedinothercomprehensiveincome |
Derecognitionincurredinthecurrentperiod
InRMB
| Itemname | Accumulatedgainstransferredtoretainedearnings | Accumulatedlossestransferredtoretainedearnings | Reasonforderecognition |
Itemizeddisclosureofinvestmentsbynon-tradingequityinstrumentsforthecurrentperiod
InRMB
| Itemname | Recognizeddividendincome | Accruedgains | Accruedlosses | Amountofothercomprehensiveincometransferredtoretainedearnings | Reasonfordesignatedinfairvaluemeasurementwithchangesrecognizedinothercomprehensiveincome | Reasonforothercomprehensiveincometransferredtoretainedearnings |
Othernote：
17.Long-termaccountreceivable
(1)Long-termaccountreceivable
InRMB
| Item | Endingbalance | Openingbalance | Discountrateinterval | ||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | ||
（2）Accordingtothebaddebtprovisionmethodclassificationdisclosure
InRMB
| Category | Amountinyear-end | BalanceYear-beginning | ||||||||
| BookBalance | Baddebtprovision | Bookvalue | BookBalance | Baddebtprovision | Bookvalue | |||||
| Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
| Inducing | ||||||||||
| Including | ||||||||||
Provisionforbaddebtsismadeaccordingtothegeneralmodelofexpectedcreditlosses
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| January1,2025balanceinthecurrentperiod |
Thebasisforthedivisionofeachstageandtheproportionofbaddebtprovision
(3)Baddebtprovisionaccrual,collectedorreversalintheperiod
InRMB
| Category | Openingbalance | Currentchanges | Endingbalance | |||
| Accrual | Collectedorreversal | Writeoff | Other | |||
Theimportantamountofbaddebtprovisionsreversedorrecoveredinthecurrentperiodthereinto:
InRMB
| Nameoftheorganization | Amountrecoveredorreversed | Reasonforreversal | Recoverymethod | Thebasisandrationalityfordeterminingtheprovisionratiooforiginalbaddebtprovision |
Othernote：
(4)Long-termreceivablesactuallywrittenoffinthecurrentperiod
InRMB
| Item | Write-offamount |
Importantlong-termaccountsreceivablewrite-offstatusthereinto:
InRMB
| NameofOrganization | AmountNature | Write-offamount | Write-offreason | Write-offproceduresforfulfillment | Whetherthepaymentisgeneratedbyarelatedpartytransaction |
Explanationofwrite-offoflong-termreceivables:
18.Long-termequityinvestment
InRMB
| Investe | Beginn | Impair | Changesintheperiod(+,-) | Ending | Ending |
| denterprise | ingbalance | mentprovisionbegin-yearbalance | Additionalinvestment | Othercomprehensiveincomeadjustment | Otherequitychange | Cashdividendorprofitannouncedtoissued | Accrualofimpairmentprovision | Other | balance(Bookvalue) | balanceofimpairmentprovision | |
| I.Jointventure | |||||||||||
| II.Associatedenterprise | |||||||||||
| ShenzhenXinxuanTechnologyCo.,Ltd. | 830,481.86 | 830,481.86 | |||||||||
| Subtotal | 830,481.86 | 830,481.86 | |||||||||
| Total | 830,481.86 | 830,481.86 | |||||||||
Therecoverableamountisdeterminedonthebasisofthenetamountoffairvaluelessdisposalcosts
□Applicable?NotapplicableTherecoverableamountisdeterminedbythepresentvalueoftheprojectedfuturecashflows
□Applicable?NotapplicableThereasonfortheobviousdiscrepancybetweentheforegoinginformationandtheinformationusedintheimpairmenttestofpreviousyearsortheexternalinformationThereasonfortheobviousdiscrepancybetweentheinformationusedintheCompany'simpairmenttestinpreviousyearsandtheactualsituationinthecurrentyearOthernote
19.Othernon-currentfinancialassets
InRMB
| Item | Endingbalance | Openingbalance |
Othernote：
20.Investmentrealestate
(1)Investmentrealestatemeasuredatcost
□Applicable?Notapplicable
(2)Investmentrealestatemeasuredatfairvalue
□Applicable?Notapplicable
(3)Convertedtoinvestmentrealestateandmeasuredatfairvalue
InRMB
| Item | Accountingaccountsbeforeconversion | Amount | Reasonforconversion | Approvalprocedures | Impactonprofitandloss | Impactonothercomprehensiveincome |
（4）Investmentrealestatewithoutpropertyrightscertificate
InRMB
| Item | Bookvalue | Reasonsforfailingtocompletethepropertyrightscertificate |
Othernote:
21.Fixedassets
InRMB
| Item | Endingbalance | Openingbalance |
| Fixedassets | 2,772,051.24 | 2,931,163.10 |
| Total | 2,772,051.24 | 2,931,163.10 |
(1)Fixedassets
InRMB
| Item | Housesandbuildings | Machineryequipment | Meansoftransportation | Electronicequipmentandothers | Total |
| I.Originalbookvalue: | |||||
| 1.Openingbalance | 2,959,824.00 | 1,512,328.33 | 1,513,248.07 | 344,991.83 | 6,330,392.23 |
| 2.Currentincreased | 10,358.00 | 10,358.00 | |||
| (1)Purchase | 10,358.00 | 10,358.00 | |||
| (2)Constructioninprogresstransfer-in | |||||
| (3)Theincreaseinbusinesscombination |
3.Currentdecreased
| 3.Currentdecreased |
| (1)Disposalorscrap |
4.Endingbalance
| 4.Endingbalance | 2,959,824.00 | 1,512,328.33 | 1,513,248.07 | 355,349.83 | 6,340,750.23 |
| II.Accumulateddepreciation |
| 1.Openingbalance | 1,132,132.68 | 497,759.02 | 862,386.24 | 177,345.44 | 2,669,623.38 |
| 2.Currentincreased | 66,596.04 | 31,363.84 | 49,571.67 | 21,938.31 | 169,469.86 |
| (1)Accrual | 66,596.04 | 31,363.84 | 49,571.67 | 21,938.31 | 169,469.86 |
3.Currentdecreased
| 3.Currentdecreased |
| (1)Disposalorscrap |
4.Endingbalance
| 4.Endingbalance | 1,198,728.72 | 529,122.86 | 911,957.91 | 199,283.75 | 2,839,093.24 |
| III.Impairmentprovision | |||||
| 1.Openingbalance | 729,605.75 | 729,605.75 | |||
| 2.Currentincreased | |||||
| (1)Accrual |
3.Currentdecreased
| 3.Currentdecreased |
| (1)Disposalorscrap |
4.Endingbalance
| 4.Endingbalance | 729,605.75 | 729,605.75 | |||
| IV.Bookvalue | |||||
| 1.Endingbookvalue | 1,761,095.28 | 253,599.72 | 601,290.16 | 156,066.08 | 2,772,051.24 |
| 2.Openingbookvalue | 1,827,691.32 | 284,963.56 | 650,861.83 | 167,646.39 | 2,931,163.10 |
(2)Fixedassetstemporaryidle
InRMB
| Item | Originalbookvalue | Accumulateddepreciation | Impairmentprovision | Bookvalue | Note |
| Machineryequipment | 1,044,247.81 | 314,642.06 | 729,605.75 | ThelithiumbatteryequipmentstoredintheGuangshuiJiaxufactoryisinanidlestate |
（(3)Fixedassetsleasing-outbyoperationallease
InRMB
| Item | Endingbookvalue |
(4)Fixedassetswithoutpropertyrightscertificate
InRMB
| Item | Bookvalue | Reasonsforfailingtocompletethepropertyrightscertificate |
| SixpropertiesinLianxinGarden | 1,761,095.28 | ThesixpropertiesofLianxinGarden7-20Fwithoriginalvalueof2,959,824.00Yuan.ThepropertypurchasingreferstotheindemnificatoryhousingforenterprisetalentbuyingfromShenzhenHousingandConstructionBureauofLuohuDistrict.Accordingtotheagreement,theenterpriseshallnotcarryinganykindofpropertytradingwithanyunitsorindividualsexceptthegovernment,andthecompanyhasnopropertycertificationontheabovementionedproperties. |
Othernote：
(5)Informationofimpairmenttestoffixedassets
□Applicable?Notapplicable
（6）liquidationoffixedassets
InRMB
| Item | Endingbalance | Openingbalance |
Othernote：
22.Constructioninprogress
InRMB
| Item | Endingbalance | Openingbalance |
(1)Constructioninprogress
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
(1)Changesinsignificantconstructioninprogress
InRMB
| Item | Budget | Openingbalance | Currentincreased | Fixedassetstransfer-ininthePeriod | OtherdecreasedinthePeriod | Endingbalance | Proportionofprojectinvestmentinbudget | Progress | Accumulatedamountofinterestcapitalization | including:interestcapitalizedamountoftheyear | Interestcapitalizationrateoftheyear | Sourceoffunds |
(3)Provisionforimpairmentofconstructioninprogressinthecurrentperiod
InRMB
| Item | Openingbalance | Increase | Decrease | Endingbalance | Reason |
Othernote：
(4)Informationofimpairmenttestofconstructioninprogress
□Applicable?Notapplicable
(5)Engineeringmaterials
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
Othernote:
23.Productivebiologicalasset
(1)Productivebiologicalassetsmeasuredbycost
□Applicable?Notapplicable
(2)Impairmenttestofproductivebiologicalassetsusingcostmeasurementmode
□Applicable?Notapplicable
(2)Productivebiologicalassetsmeasuredbyfairvalue
□Applicable?Notapplicable
24.Oilandgasasset
□Applicable?Notapplicable
25.Right-of-useassets
（1）Right-of-useassets
InRMB
| Item | Housesandbuildings | Total |
| I.Originalbookvalue | ||
| 1.Openingbalance | 6,220,679.84 | 6,220,679.84 |
| 2.Currentincreased |
3.Currentdecreased
4.Endingbalance
| 4.Endingbalance | 6,220,679.84 | 6,220,679.84 |
| II.Accumulateddepreciation | ||
| 1.Openingbalance | 2,384,593.94 | 2,384,593.94 |
| 2.Currentincreased | 622,068.00 | 622,068.00 |
| (1)Accrual | 622,068.00 | 622,068.00 |
3.Currentdecreased
| 3.Currentdecreased |
| (1)Disposal |
4.Endingbalance
| 4.Endingbalance | 3,006,661.94 | 3,006,661.94 |
| III.Impairmentprovision | ||
| 1.Openingbalance | ||
| 2.Currentincreased | ||
| (1)Accrual |
3.Currentdecreased
| 3.Currentdecreased |
| (1)Disposal |
4.Endingbalance
| 4.Endingbalance | ||
| IV.Bookvalue | ||
| 1.Endingbookvalue | 3,214,017.90 | 3,214,017.90 |
| 2.Openingbookvalue | 3,836,085.90 | 3,836,085.90 |
(2)Informationofimpairmenttestofright-of-useassets
□Applicable?NotapplicableOthernote：
26.Intangibleassets
(1)Intangibleassets
InRMB
| Item | Landuseright | Patent | Non-patenttechnology | Total | |
| I.Originalbookvalue | |||||
| 1.Openingbalance | |||||
| 2.Currentincreased | |||||
| (1)Purchase | |||||
| (2)InternalR&D | |||||
| (3)Theincreaseinbusiness |
combination
3.Currentdecreased
| 3.Currentdecreased |
| (1)Disposal |
4.Endingbalance
| 4.Endingbalance |
| II.Accumulateddepreciation |
| 1.Openingbalance |
| 2.Currentincreased |
| (1)Accrual |
3.Currentdecreased
| 3.Currentdecreased |
| (1)Disposal |
4.Endingbalance
| 4.Endingbalance |
| III.Impairmentprovision |
| 1.Openingbalance |
| 2.Currentincreased |
| (1)Accrual |
3.Currentdecreased
| 3.Currentdecreased |
| (1)Disposal |
4.Endingbalance
| 4.Endingbalance |
| IV.Bookvalue |
| 1.Endingbookvalue |
| 2.Openingbookvalue |
RatioofintangibleassetsresultedfrominternalR&Dinbalanceofintangibleassetsatperiod-end
(2)Dataresourcesrecognizedasintangibleassets
□Applicable?Notapplicable
(3)Landuserightwithoutcertificateoftitlecompleted
InRMB
| Item | Bookvalue | Reasonsforfailingtocompletethepropertyrightscertificate |
Othernote：
（4）Impairmenttestsituationofintangibleassets
□Applicable√Notapplicable
27.Goodwill
(1)Originalbookvalueofgoodwill
InRMB
| Theinvestedentityoritems | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | ||
| Resultedbyenterprisecombination | Dispose | |||||
Total
(2)GoodwillImpairmentprovision
InRMB
TotalTheinvestedentityoritems
| Theinvestedentityoritems | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | ||
| Accrual | Dispose | |||||
Total
(3)Informationabouttheassetgrouporassetgroupportfoliotowhichthegoodwillbelongs
Total
Name
| Name | Thecompositionandbasisoftheassetgrouporportfoliotowhichitbelongs | Affiliatedbusinesssegmentsandbasis | Whetheritisconsistentwithpreviousyears |
Changesintheassetgrouporportfolioofassetgroups
| Name | Compositionbeforethechange | Compositionafterthechange | Objectivefactsandbasisforchange |
Othernote
(4)ThespecificmethodofdeterminingtherecoverableamountTherecoverableamountisdeterminedonthebasisofthenetamountbyfairvaluelessdisposalcosts
□Applicable?NotapplicableTherecoverableamountisdeterminedbythepresentvalueoftheprojectedfuturecashflows
□Applicable?NotapplicableThereasonfortheobviousdiscrepancybetweentheforegoinginformationandtheinformationusedintheimpairmenttestofpreviousyearsortheexternalinformationThereasonfortheobviousdiscrepancybetweentheinformationusedintheCompany'simpairmenttestin
previousyearsandtheactualsituationinthecurrentyear
(5)StatusofcompletionofperformancecommitmentandcorrespondinggoodwillimpairmentWhengoodwillisformed,thereisaperformancecommitmentandthereportingperiodorthepreviousperiodinthereportingperiodiswithintheperformancecommitmentperiod
□Applicable?NotapplicableOthernote：
28.Long-termexpensestobeapportioned
InRMB
| Item | Openingbalance | Currentincreased | AmortizedinthePeriod | Otherdecrease | Endingbalance |
Othernote：
29.Deferredincometaxasset/Deferredincometaxliabilities
(1)Deferredincometaxassetswithoutoffset
InRMB
| Item | Endingbalance | Openingbalance | ||
| Deductibletemporarydifference | Deferredincometaxasset | Deductibletemporarydifference | Deferredincometaxasset | |
| Assetimpairmentprovision | 20,528,943.34 | 5,132,235.83 | 19,919,366.32 | 4,979,841.59 |
| LeaseLiabilities | 4,237,678.17 | 1,059,419.54 | 4,602,702.62 | 1,150,675.65 |
| Total | 24,766,621.51 | 6,191,655.37 | 24,522,068.94 | 6,130,517.24 |
(2)Deferredincometaxliabilitieswithoutoffset
InRMB
| Item | Endingbalance | Openingbalance | ||
| Taxabletemporarydifferences | Deferredincometaxliabilities | Taxabletemporarydifferences | Deferredincometaxliabilities | |
| Righttouseassets | 3,214,017.90 | 803,504.48 | 3,836,085.90 | 959,021.47 |
| Total | 3,214,017.90 | 803,504.48 | 3,836,085.90 | 959,021.47 |
(3)Deferredincometaxassetsanddeferredincometaxliabilitieslistedafteroff-set
InRMB
| Item | Trade-offbetweenthedeferredincometaxassetsandliabilities | Endingbalanceofdeferredincometaxassetsorliabilitiesafteroff-set | Trade-offbetweenthedeferredincometaxassetsandliabilitiesatperiod-begin | Openingbalanceofdeferredincometaxassetsorliabilitiesafteroff-set |
| Deferredincometax | 803,504.48 | 5,388,150.89 | 959,021.47 | 5,171,495.77 |
| asset | |||
| Deferredincometaxliabilities | 803,504.48 | 959,021.47 |
(4)Detailsofdeferredincometaxassetswithoutrecognized
InRMB
| Item | Endingbalance | Openingbalance |
| Deductabletemporarydifference | 8,392,712.20 | 8,392,712.20 |
| Deductableloss | 2,871,162.92 | 2,871,162.92 |
| Total | 11,263,875.12 | 11,263,875.12 |
(5)Deductiblelossesofun-recognizeddeferredincometaxassetsexpiredonthefollowedyear
InRMB
| Year | Endingamount | Openingamount | Note |
| 2025 | 501,170.19 | 501,170.19 | Deductablelossin2020 |
| 2026 | 303,426.68 | 303,426.68 | Deductablelossin2021 |
| 2027 | 391,287.51 | 391,287.51 | Deductablelossin2022 |
| 2028 | 5,645.86 | 5,645.86 | Deductablelossin2023 |
| 2029 | 1,669,632.68 | 1,669,632.68 | Deductablelossin2024 |
| Total | 2,871,162.92 | 2,871,162.92 |
Othernote
30.Othernon-currentassets
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
Othernote
31.Assetswithrestrictedownershiporrighttouse
InRMB
| Item | Endofperiod | Beginningofperiod | ||||||
| Bookbalance | Bookvalue | Restrictedtype | Restrictedcircumstance | Bookbalance | Bookvalue | Restrictedtype | Restrictedcircumstance | |
| Monetaryfunds | 174,866.02 | 174,866.02 | Other | Litigationfrozenfunds | ||||
| Fixedassets | 2,959,824.00 | 1,761,095.28 | Other | Forthetalenthousingpurchasedatalowprice,ShenzhenChinacannotapplyforacertificate,andthe | 2,959,824.00 | 1,827,691.32 | Other | Forthetalenthousingpurchasedatalowprice,ShenzhenChinacannotapplyforacertificate,andthe |
| disposalcanonlyberepurchasedbythegovernment | disposalcanonlyberepurchasedbythegovernment | |||||||
| Total | 2,959,824.00 | 1,761,095.28 | 3,134,690.02 | 2,002,557.34 |
Othernote：
32.Short-termloans
(1)Category
InRMB
| Item | Endingbalance | Openingbalance |
| Creditloans | 24,250,000.00 | 9,900,000.00 |
| Total | 24,250,000.00 | 9,900,000.00 |
Explanationonshort-termloanscategory:
Note1：
ShenzhenChinaBicycleCompany(Holdings)LimitedenteredintoaworkingcapitalloanagreementwiththeBankofCommunicationsShenzhenBranchonNovember2024,Thetermoftheloanisoneyear,AsofJune30,2025,andanloanbalanceofRMB9,300,000.00asofJune30,2025.Thisloanisacreditloan,whichisusedfordailybusinessturnover.
Note2：
ShenzhenChinaBicycleCompany(Holdings)LimitedenteredintoaworkingcapitalloanagreementwiththeChinaCiticBankofShenzhenBranchonJune2025,Thetermoftheloanisoneyear,AsofJune30,2025,andanloanbalanceofRMB10,000,000.00asofJune30,2025.Thisloanisacreditloan,whichisusedfordailybusinessturnover.Note1：ShenzhenChinaBicycleCompany(Holdings)LimitedenteredintoaworkingcapitalloanagreementwiththeBankofCommunicationsShenzhenBranchonMay2025,Thetermoftheloanisoneyear,AsofJune30,2025,andanloanbalanceofRMB4,950,000.00asofJune30,2025.Thisloanisacreditloan,whichisusedfordailybusinessturnover.
(2)Overdueoutstandingshort-termloansTotal0.00Yuanoverdueoutstandingshort-termloansatperiod-end,includingthefollowedsignificantamount:
InRMB/
| Borrower | Endingbalance | Lendingrate | Overduetime | Overduerate |
Othernote:
33.TradingfinancialliabilityNone
34.DerivativefinancialliabilityNone
35.NotepayableNone
36.Accountpayable
(1)Accountpayable
InRMB
| Item | Endingbalance | Openingbalance |
| Withinoneyear(oneyearincluded) | 12,222,529.31 | 4,990,535.61 |
| 1-2years(2yearsincluded) | 2,122,412.74 | |
| 2-3years(3yearsincluded) | 78,745.65 | |
| Over3years | 335,432.00 | 445,005.51 |
| Total | 12,557,961.31 | 7,636,699.51 |
(2)Importantaccountpayablewithaccountageoveroneyear
InRMB
| Item | Endingbalance | Reasonsfornon-reimbursementorcarry-forward |
Othernote:
37.Otheraccountpayable
InRMB
| Item | Endingbalance | Openingbalance |
| Otheraccountpayable | 42,624,165.17 | 33,704,488.43 |
| Total | 42,624,165.17 | 33,704,488.43 |
(1)Interestpayable
InRMB
| Item | Endingbalance | Openingbalance |
Importantoverdueinterest
InRMB
| Unit | Overdueamount | Overduereason |
Othernote:
(2)DividendPayable
InRMB
| Item | Endingbalance | Openingbalance |
Otherexplanation:includingdividendspayablewithoveroneyearageanddisclosureun-paymentreasons
（
）Otheraccountpayable
1)Bynature
InRMB
| Item | Endingbalance | Openingbalance |
| Custodianandcommonbenefitdebts | 32,284,157.81 | 22,468,139.52 |
| Warrantyandguaranteemoney | 1,499,940.00 | 1,499,940.00 |
| Intercoursefunds | 7,404,045.30 | 8,590,285.30 |
| Payment | 1,402,339.38 | 1,021,330.17 |
| Collectionandpayment | 33,682.68 | 91,745.33 |
| Other | 0.00 | 33,048.11 |
| Total | 42,624,165.17 | 33,704,488.43 |
2)Significantotherpayablewithoveroneyearage
InRMB
| Item | Endingbalance | Reasonsfornon-reimbursementorcarry-forward |
| Custodianandcommonbenefitdebts | 32,284,157.81 | Annualsettlementoffset |
| ShenzhenGuochengEnergyInvestmentDevelopmentCo.,Ltd. | 6,500,000.00 | Intercoursefunds |
| Total | 38,784,157.81 |
Othernote:
38.Accountsreceivedinadvance
(1)Accountsreceivedinadvance
InRMB
| Item | Endingbalance | Openingbalance |
(2)Accountreceivedinadvancewithoveroneyearbookage
InRMB
| Item | Endingbalance | Reasonsfornon-reimbursementorcarry-forward |
Othernote:
39.Contractualliability
InRMB
| Item | Endingbalance | Openingbalance |
| Receiptofgoodsinadvance | 31,118,466.86 | 4,868,279.05 |
| Total | 31,118,466.86 | 4,868,279.05 |
Contractualliabilityinadvancewithoveroneyearbookage
InRMB
| Item | Endingbalance | Reasonsfornon-reimbursementorcarry-forward |
Bookvaluehasmajorchangesintheperiodandcauses
InRMB
| Item | Amountchanges | Reasonforchange |
| ShenzhenZhouLiuFuInvestmentCo.,Ltd. | 31,072,389.38 | Advancesonsales |
| Total | 31,072,389.38 |
40.Wagepayable
(1)Wagepayable
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| I.Short-termcompensation | 807,688.20 | 6,040,624.44 | 4,937,861.36 | 1,910,451.28 |
| II.Post-employmentbenefit-Definedcontributionplan | 478,593.11 | 478,593.11 | ||
| Total | 807,688.20 | 6,519,217.55 | 5,416,454.47 | 1,910,451.28 |
(2)Short-termcompensation
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| 1.Wages,bonus,allowancesandsubsidy | 802,443.32 | 5,594,968.57 | 4,492,243.19 | 1,905,168.70 |
| 2.Employeebenefits | 55,300.00 | 55,300.00 | ||
| 3.Socialinsurance | 159,259.93 | 159,259.93 | ||
| Including:Medicalinsurance | 127,721.28 | 127,721.28 | ||
| Workinjuryinsurance | 15,121.84 | 15,121.84 | ||
| Maternityinsurance | 16,416.81 | 16,416.81 | ||
| 4.Housingaccumulationfund | 199,681.96 | 199,681.96 | ||
| 5.Laborunion | 5,244.88 | 31,413.98 | 31,376.28 | 5,282.58 |
| expenditureandpersonneleducationexpense | ||||
| Total | 807,688.20 | 6,040,624.44 | 4,937,861.36 | 1,910,451.28 |
(3)Definedcontributionplan
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| 1.Basicendowmentinsurance | 459,262.89 | 459,262.89 | ||
| 2.Unemploymentinsurance | 19,330.22 | 19,330.22 | ||
| Total | 478,593.11 | 478,593.11 |
Othernote:
41.Taxespayable
InRMB
| Item | Endingbalance | Openingbalance |
| VAT | 42,061.34 | 378,825.58 |
| Consumptiontax | 3,668.17 | 3,668.14 |
| Enterpriseincometax | 3,754,527.91 | 3,699,904.41 |
| Individualincometax | 30,416.54 | 42,632.55 |
| Citymaintenance&constructiontax | 2,724.36 | 26,310.43 |
| Stamptax | 53,121.76 | 104,419.30 |
| Realestatetax | 181,830.16 | |
| Landusetax | 10,895.45 | |
| Educationalsurtax | 1,908.61 | 18,755.75 |
| Vehiclepurchasetax | 23,150.44 | |
| Total | 3,888,428.69 | 4,490,392.21 |
Othernote：
42.Liabilityheldforsale
InRMB
| Item | Endingbalance | Openingbalance |
Othernote:
43.Non-currentliabilitiesduewithinoneyear
InRMB
| Item | Endingbalance | Openingbalance |
| Leaseliabilitiesduewithinoneyear | 1,438,146.75 | 1,389,819.85 |
| Total | 1,438,146.75 | 1,389,819.85 |
Othernote:
44.Othercurrentliabilities
InRMB
| Item | Endingbalance | Openingbalance |
| VATreceivedinadvance | 4,039,410.62 | 302,687.60 |
| Total | 4,039,410.62 | 302,687.60 |
Changesofshort-termbondpayable:
InRMB
| Bond | Facevalue | Interestrate | Releasedate | Bondperiod | Issuingamount | Openingbalance | IssuedinthePeriod | Accrualinterestbyfacevalue | Premium/discountamortization | PaidinthePeriod | Endingbalance | Whetherdefault |
Total
Othernote:
45.Long-termloans
(1)Category
InRMB
TotalItem
| Item | Endingbalance | Openingbalance |
Explanationoncategoryoflong-termloans:
Othernote:includinginterestratesection
46.Bondspayable
(1)Bondspayable
InRMB
| Item | Endingbalance | Openingbalance |
(2)Changesofbondspayable(notincludingtheotherfinancialinstrumentofpreferredstockandperpetualcapitalsecuritiesthatclassifyasfinancialliability)
InRMB
| Bond | Facevalue | Interestrate | Releasedate | Bondperiod | Issuingamount | Openingbalance | IssuedinthePeriod | Accrualinterestbyfacevalue | Premium/discountamortization | PaidinthePeriod | Endingbalance | Whetherdefault |
Total
| Total | —— | —— |
(3)Convertibleconditionsandtimeforsharestransferfortheconvertiblebonds
(4)OtherfinancialinstrumentsclassifyasfinancialliabilityOutstandingotherfinancialinstrumentsaspreferredstockandperpetualbondsatperiod-endChangesoftheoutstandingfinancialinstrumentsaspreferredstockandperpetualbondsatperiod-end
InRMB
| Outstandingfinancialinstrument | Period-begin | Currentincreased | Currentdecreased | Period-end | ||||
| Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | |
BasisforfinancialliabilityclassificationforotherfinancialinstrumentOthernote:
47.Leaseliability
InRMB
| Item | Endingbalance | Openingbalance |
| Leasepaymentamount | 4,430,775.76 | 4,873,543.86 |
| Including：Within1year | 1,555,745.48 | 1,532,795.61 |
| 1-2years | 1,602,403.90 | 1,578,816.05 |
| 2-3years | 1,272,626.38 | 1,626,095.22 |
| Over3years | 135,836.98 | |
| Unrecognizedfinancingcharges | -193,097.59 | -270,841.24 |
| Including：Within1year | -117,598.73 | -142,975.15 |
| 1-2years | -64,190.48 | -91,343.44 |
| 2-3years | -11,308.38 | -36,115.75 |
| Over3years | -406.90 | |
| Reclassifiedtoleaseliabilitiesduewithinoneyear | -1,438,146.75 | -1,389,819.85 |
| Total | 2,799,531.44 | 3,212,882.77 |
Othernote:
48.Long-termaccountpayable
InRMB
| Item | Endingbalance | Openingbalance |
(1)Natureoflong-termaccountpayable
InRMB
| Item | Endingbalance | Openingbalance |
Othernote:
(2)Specialpayable
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | Causes |
Othernote:
49.Long-termwagespayable
(1)Long-termwagespayable
InRMB
| Item | Endingbalance | Openingbalance |
(2)ChangesofdefinedbenefitplansPresentvalueofthedefinedbenefitplans:
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
Schemeassets:
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
Netliability(assets)ofthedefinedbenefitplans
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
Contentofdefinedbenefitplansandrelevantrisks,impactonfuturecashflowoftheCompanyaswellastimesanduncertainty:
Majoractuarialassumptionandsensitivityanalysis:
Othernote:
50.Accrualliability
InRMB
| Item | Endingbalance | Openingbalance | Causes |
Otherexplanation,includingrelevantimportantassumptionsandestimation:
51.Deferredincome
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | Causes |
Othernote:
52.Othernon-currentliabilities
InRMB
| Item | Endingbalance | Openingbalance |
Othernote:
53.Sharecapital
InRMB
| Openingbalance | Changesintheperiod(+,-) | Endingbalance | |||||
| Newsharesissued | Bonusshare | Sharestransferredfromcapitalreserve | Other | Subtotal | |||
| Totalshares | 689,184,933.00 | 689,184,933.00 | |||||
Othernote:
54.Otherequityinstrument
(1)Outstandingotherfinancialinstrumentsaspreferredstockandperpetualbondsatperiod-end
(2)Changesoftheoutstandingotherfinancialinstrumentsaspreferredstockandperpetualbondsatperiod-end
InRMB
| Outstandingfinancialinstrument | Period-begin | Currentincreased | Currentdecreased | Period-end | ||||
| Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | |
Changesofotherequityinstrument,changereasonsandrelevantaccountingtreatmentbasis:
Othernote:
55.Capitalpublicreserve
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| Capitalpremium(Sharecapitalpremium) | 169,874,906.92 | 169,874,906.92 | ||
| Othercapitalpublicreserve | 627,834,297.85 | 627,834,297.85 | ||
| Including:Debtrestructuringincome | 482,580,588.23 | 482,580,588.23 | ||
| Other | 145,253,709.62 | 145,253,709.62 | ||
| Total | 797,709,204.77 | 797,709,204.77 |
Othernote:Includingchangesandreasonsforchanges
56.Inventoryshares
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
Othernote:includingchangesandreasonsforchanges
57.Othercomprehensiveincome
InRMB
| Item | Openingbalance | Currentperiodincurred | Endingbalance | |||||
| Accountbeforeincometaxintheperiod | Less:writteninothercomprehensiveincomeinpreviousperiodandcarriedforwardtogainsandlossesincurrentperiod | Less:writteninothercomprehensiveincomeinpreviousperiodandcarriedforwardtoretainedearningsincurrentperiod | Less:Incometaxexpense | Belongtoparentcompanyaftertax | Belongtominorityshareholdersaftertax | |||
| II.Reclassifyothercomprehensiveincomeintoprofitorloss | -434,799.12 | -434,799.12 | -434,799.12 | |||||
| Conversiondifferencearisingfromforeigncurrencyfinancialstatement | -434,799.12 | -434,799.12 | -434,799.12 | |||||
| Totalofothercomprehensiveincome | -434,799.12 | -434,799.12 | -434,799.12 | |||||
Othernote:includingtheactivepartofthehedginggains/lossesofcashflowtransfertoinitialrecognitionadjustmentforthearbitrageditems
58.Reasonablereserve
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
Othernote:includingchangesandreasonsforchanges
59.Surpluspublicreserve
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| Statutorysurplusreserves | 32,673,227.01 | 32,673,227.01 | ||
| Total | 32,673,227.01 | 32,673,227.01 |
Explanation:includingchangesandreasonsforchanges
60.Retainedprofit
InRMB
| Item | Currentperiod | Priorperiod |
| Retainedprofitatperiod-endbeforeadjustment | -1,175,806,118.62 | -1,192,651,364.21 |
| Retainedprofitatperiod-beginafteradjustment | -1,175,806,118.62 | -1,192,651,364.21 |
| Add:netprofitattributabletoshareholdersofparentcompanyforthisyear | 18,570,777.64 | 5,717,642.69 |
| Retainedprofitatperiod-end | -1,157,235,340.98 | -1,186,933,721.52 |
Adjustmentforretainedprofitatperiod-begin:
1)RetroactiveadjustmentduetotheAccountingStandardsforBusinessEnterpriseandrelevantnewregulations,retainedprofitatperiod-beginhas0.00Yuanaffected;
2)Duetotheaccountingpolicychanges,retainedprofitatperiod-beginhas0.00Yuanaffected;
3)Duetothemajoraccountingerrorscorrection,retainedprofitatperiod-beginhas0.00Yuanaffected;
4)Consolidationrangechangedduetothesamecontrol,retainedprofitatperiod-beginhas0.00Yuanaffected;
5)Totalotheradjustmentimpacts0.00Yuanretainedprofitatperiod-begin
61.Operationrevenueandoperationcost
InRMB
| Item | Currentperiodincurred | Priorperiodincurred | ||
| Revenue | Cost | Revenue | Cost | |
| Mainbusiness | 313,790,466.16 | 284,503,069.22 | 211,965,555.07 | 199,846,203.64 |
| Otherbusiness | 6,153,150.47 | 586,064.32 | 1,534,042.18 | 1,148,825.88 |
| Total | 319,943,616.63 | 285,089,133.54 | 213,499,597.25 | 200,995,029.52 |
Breakdownofoperatingincomeandoperatingcosts:
InRMB
| Contracttype | 1#Division | 2#Division | Total | |||
| Revenue | Cost | Revenue | Cost | Revenue | Cost | |
| Businesstype | 319,943,616.63 | 285,089,133.54 | 319,943,616.63 | 285,089,133.54 | ||
| Including： | ||||||
| Jewelryandgold | 318,979,752.50 | 284,449,986.76 | 318,979,752.50 | 284,449,986.76 | ||
| Bicycles,electricvehicles,lithiumbatterymaterialsandothers | 963,864.13 | 639,146.78 | 963,864.13 | 639,146.78 | ||
| Classificationbybusinessarea | ||||||
| Including: | ||||||
Marketorcustomertype
Including:
Contracttype
| Contracttype |
| Including: |
Classificationbytimeofgoodstransfer
| Classificationbytimeofgoodstransfer |
| Including: |
Classificationbycontractduration
| Classificationbycontractduration |
| Including: |
Classificationbysaleschannel
| Classificationbysaleschannel |
| Including: |
Total
| Total | 319,943,616.63 | 285,089,133.54 | 319,943,616.63 | 285,089,133.54 |
Informationrelatedtoperformanceobligations:
| Item | Thetimetofulfilltheperformanceobligation | Importantpaymentterms | Thenatureofthegoodsthatthecompanypromisestotransfer | Whetheritisthemainresponsibleperson | Theexpectedrefundstocustomersbornebythecompany | Thetypesofqualityassuranceprovidedbythecompanyandrelatedobligations |
Othernote:
Informationrelatingtothetransactionpriceassignedtotheremainingperformanceobligation:
Theamountofrevenuecorrespondingtoperformanceobligationthathavebeensignedbuthavenotbeenfulfilledorhavenotbeenfulfilledattheendoftheperiodwas0.00Yuan,including0.00Yuanisexpectedtoberecognizedasrevenueinsubsequentyears,0.00Yuanisexpectedtoberecognizedasrevenueinsubsequentyears,0.00Yuanisexpectedtoberecognizedasrevenueinsubsequentyears.Otherexplanation:
Significantcontractchangesorsignificanttransactionpriceadjustments
InRMB
| Item | Accountingtreatmentmethod | Theimpactedamountonrevenue |
Othernote:
62.Taxandsurcharge
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
| Citymaintenance&constructiontax | 15,369.40 | 30,933.56 |
| Educationalsurcharge | 10,846.59 | 22,089.18 |
| Stamptax | 223,607.73 | 98,479.61 |
| Total | 249,823.72 | 151,502.35 |
Othernote:
63.Administrativeexpenses
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
| Employeeremuneration | 3,630,016.53 | 2,813,909.20 |
| Dailyadministrativeexpenses | 2,528,189.95 | 1,114,549.51 |
| Total | 6,158,206.48 | 3,928,458.71 |
Othernote:
64.Salesexpenses
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
| Employeeremuneration | 2,328,835.37 | 1,041,048.34 |
| Marketingpromotionfees | 896,564.49 | 22,377.70 |
| Onlinemarketingfee | 310,598.24 | 64,489.30 |
| Other | 419,044.96 | 650,478.14 |
| Total | 3,955,043.06 | 1,778,393.48 |
Othernote:
65.R&Dexpenses
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
| Employeecompensationandbenefits | 416,542.20 | 419,172.22 |
| Other | 67,816.57 | 35,041.40 |
| Total | 484,358.77 | 454,213.62 |
Othernote:
66.Financeexpenses
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
| Interestexpenses | 253,787.54 | 25,397.71 |
| Including：Financingexpensesrecognizedbyleaseliabilities | 77,743.67 | 25,397.71 |
| Interestincome | -5,679.08 | -61,836.44 |
| Commissionchargeetc. | 9,954.15 | 35,279.23 |
| Total | 258,062.61 | -1,159.50 |
Othernote:
67.Otherincome
InRMB
| Sources | Currentperiodincurred | Priorperiodincurred |
68.Netexposurehedgegains
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
Othernote:
69.Incomefromchangeoffairvalue
InRMB
| Sources | Currentperiodincurred | Priorperiodincurred |
Othernote:
70.Investmentincome
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
Othernote:
71.Lossofcreditimpairment
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
| Baddebtlossofotheraccountreceivable | -603,703.04 | 442,497.22 |
| Baddebtlossesofotheraccountsreceivable | -2,382.58 | -187,577.79 |
| Total | -606,085.62 | 254,919.43 |
Othernote:
72.Impairmentlossonassets
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
| I.Lossofinventoryfallingpriceandlossofcontractperformancecostimpairment | 8,123.50 | |
| Total | 8,123.50 |
Othernote:
73.Incomefromassetsdisposal
InRMB
| Sources | Currentperiodincurred | Priorperiodincurred |
74.Non-operatingincome
InRMB
| Item | Currentperiodincurred | Priorperiodincurred | Amountreckonedincurrentnon-recurringgains/losses |
| Other | 840,630.92 | 1,240,262.87 | |
| Total | 840,630.92 | 1,240,262.87 |
Othernote:
75.Non-operatingexpense
InRMB
| Item | Currentperiodincurred | Priorperiodincurred | Amountreckonedincurrentnon-recurringgains/losses |
| Other | 1,763.71 | 60,128.00 | |
| Total | 1,763.71 | 60,128.00 |
Othernote
76.Incometaxexpense
(1)Incometaxexpense
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
| Currentincometaxexpense | 5,273,188.95 | 1,942,341.89 |
| Deferredincometaxexpense | -216,655.12 | 185,966.10 |
| Total | 5,056,533.83 | 2,128,307.99 |
(2)Adjustmentonaccountingprofitandincometaxexpenses
InRMB
| Item | Currentperiodincurred |
| Totalprofit | 23,981,733.52 |
| Incometaxmeasuredbystatutory/applicabletaxrate | 5,995,433.38 |
| Theimpactofapplyingdifferenttaxratestosubsidiaries | -516,444.50 |
| TheimpactofdeductibletemporarydifferencesordeductiblelossesondeferredincometaxassetsnotrecognizedinthePeriod | -375,803.82 |
| Additionaldeductibleexpensesunderthetaxcode | -46,651.23 |
| Incometaxexpense | 5,056,533.83 |
Othernote:
77.OthercomprehensiveincomeRefertotheNote
78.ItemsofCashflowstatement
（1）CashrelatedtooperatingactivitiesOthercashreceivedfrombusinessoperation
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
| Interest,rent,utilities,etc. | 1,019,585.40 | 1,083,672.56 |
| Depositsandguaranteesreceived | 41,542.00 | |
| Governmentsubsidyandindividualtaxhandlingfeerefund | ||
| Other | 19,980,289.27 | 11,847,669.53 |
| Total | 21,041,416.67 | 12,931,342.09 |
Explanationonothercashreceivedinrelationtooperationactivities:
Othercashpaidinrelationtooperationactivities
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
| Paymentperiodexpenses,operatingexpensesandmutualdebt,etc | 11,020,232.91 | 3,643,342.79 |
| Judicialfreeze | 566,435.02 | |
| Total | 11,020,232.91 | 4,209,777.81 |
Explanationonothercashpaidinrelationtooperationactivities:
（2）CashrelatedtoInvestmentactivitiesCashreceivablerelatedtootherInvestmentactivities
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
Receivableforimportantcashrelatedtoinvestmentactivities
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
Explanationonothercashreceivedfrominvestmentactivities:
Cashpaidrelatedwithinvestmentactivities
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
Payableforimportantcashrelatedtoinvestmentactivities
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
Explanationoncashpaidrelatedwithinvestmentactivities
(3)CashrelatedtoFinancingactivitiesOthercashreceivedinrelationtofinancingactivities
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
| ReceivedtheperformancecommitmentpaymentfromthecontrollingshareholderReceivedtheprivateplacementdeposit | 18,154,754.41 | 12,098,051.76 |
| Total | 18,154,754.41 | 12,098,051.76 |
Explanationonothercashreceivedinrelationtofinancingactivities:
Othercashpaidrelatedwithfinancingactivities
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
| Acquisitionofminorityshareholdersofitssubsidiary | 15,025,000.00 | |
| Total | 15,025,000.00 |
Explanationonothercashpaidrelatedwithfinancingactivities:
Changesinvariousliabilitiesarisingfromfund-raisingactivities
□Applicable?Notapplicable
(4)Statementofcashflowsonanetbasis
| Item | Relevantfactualcircumstances | Thebasisfortheuseofnetpresentation | Financialimpact |
(5)Majoractivitiesandfinancialimpactsthatdonotinvolvecashreceiptsandexpendituresinthecurrentperiod,butaffectthefinancialpositionoftheenterpriseormayaffectthecashflowoftheenterpriseinthefuture
79.Supplementaryinformationtostatementofcashflow
(1)Supplementaryinformationtostatementofcashflow
InRMB
| Supplementaryinformation | Currentamount | Amountofthepreviousperiod |
| 1．Netprofitadjustedtocashflowofoperationactivities: | ||
| Netprofit | 18,925,199.69 | 5,508,028.88 |
| Add:Assetsimpairmentprovision | 606,085.62 | 263,042.93 |
| Depreciationoffixedassets,consumptionofoilassetsanddepreciationofproductivebiologyassets | 169,469.86 | 97,927.25 |
| Depreciationofright-of-useassets | 622,068.00 | 427,357.61 |
| Amortizationofintangibleassets |
| Amortizationoflong-termdeferredexpenses | ||
| Lossfromdisposaloffixedassets,intangibleassetsandotherlong-termassets(gainislistedwith“-”) | ||
| Lossesonscrappingoffixedassets(gainislistedwith“-”) | ||
| Gain/lossoffairvaluechanges(gainislistedwith“-”) | ||
| Financialexpenses(gainislistedwith“-”) | 258,062.61 | 25,397.71 |
| Investmentloss(gainislistedwith“-”) | ||
| Decreaseofdeferredincometaxasset(increaseislistedwith“-”) | -216,655.12 | 160,620.72 |
| Increaseofdeferredincometaxliability(decreaseislistedwith“-”) | ||
| Decreaseofinventory(increaseislistedwith“-”) | -159,283,018.54 | -6,197,581.61 |
| Decreaseofoperatingreceivableaccounts(increaseislistedwith“-”) | 56,358,857.09 | -32,438,650.26 |
| Increaseofoperatingpayableaccounts(decreaseislistedwith“-”) | 44,328,648.93 | -18,140,601.52 |
| Other | -272,140.63 | -1,034,350.53 |
| Netcashflowarisingfromoperatingactivities | -38,503,422.49 | -51,328,808.82 |
| 2.Materialinvestmentandfinancingnotinvolvedincashflow | ||
| Conversionofdebtintocapital | ||
| SwitchingCompanybondsduewithinoneyear | ||
| Financingleaseoffixedassets | ||
| 3.Netchangeofcashandcashequivalents: | ||
| Balanceofcashatperiodend | 59,154,588.98 | 24,599,123.35 |
| Less:Balanceofcashequivalentatyear-begin | 80,799,494.57 | 54,148,674.40 |
| Add:Balanceatyear-endofcashequivalents | ||
| Less:Balanceatyear-beginofcashequivalents | ||
| Netincreasedamountofcashandcashequivalent | -21,644,905.59 | -29,549,551.05 |
(2)NetcashpaidforobtainingsubsidiaryinthePeriod
InRMB
| Amount | |
| Including: | |
| Including: | |
| Including: |
Othernote:
（3）NetcashreceivedbydisposingsubsidiaryinthePeriod
InRMB
| Including: |
| Including: |
| Including: |
Othernote:
(4)Constitutionofcashandcashequivalent
InRMB
| Item | Endingbalance | Openingbalance |
| I.Cash | 59,154,588.98 | 80,799,494.57 |
| Including:Cashonhand | 24,644.40 | 48,364.40 |
| Bankdepositavailableforpaymentatanytime | 59,128,554.97 | 80,750,939.08 |
| Othermonetaryfundsthatmaybepaidforatanytime | 1,389.61 | 191.09 |
| III.Balanceofcashandcashequivalentsattheperiod-end | 59,154,588.98 | 80,799,494.57 |
(5)Situationswherethescopeofuseislimitedbutstillclassifiedascashandcashequivalents
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod | Reasonforstillbeingclassifiedascashandcashequivalents |
(6)Monetaryfundsthatdonotbelongtocashandcashequivalents
InRMB
| Item | Amountofthecurrentperiod | Amountofthepreviousperiod | Reasonfornotbelongingtocashandcashequivalents |
| Othermonetaryfunds | 0.00 | 566,435.02 | Litigationfrozenfunds |
| Total | 0.00 | 566,435.02 |
Othernote:
(7)Descriptionofothermajoractivities
80.Notesofchangesofowners’equityExplainthenameandadjustedamountin“Other”atendoflastperiod:
81.Foreigncurrencymonetaryitems
（1）Foreigncurrencymonetaryitems
InRMB
| Item | Endingforeigncurrencybalance | Convertrate | EndingRMBbalanceconverted |
| Monetaryfund |
| Including:USD | 5,482.43 | 7.10436 | 38,949.18 |
| EURO | |||
| HKD |
Accountreceivable
| Accountreceivable |
| Including:USD |
| EURO |
| HKD |
Long-termloans
| Long-termloans |
| Including:USD |
| EURO |
| HKD |
Othernote:
(2)Explanationonforeignoperationalentity,includingasforthemajorforeignoperationalentity,disclosedmainoperationplace,book-keepingcurrencyandbasisforselection;ifthebook-keepingcurrencychanged,explainreasons
□Applicable?Notapplicable
82.Leasing
(1)TheCompanyactsasthelessee
□Applicable?Notapplicable
(2)TheCompanyactsasthelessorOperatingleaseasalessor?Applicable□Notapplicable
InRMB
| Item | Rentalincome | Thereinto:incomerelatedtovariableleasepaymentsthatarenotincludedinleasereceipts |
| leaseofhouses | 24,153.81 | |
| Total | 24,153.81 |
Financialleaseasalessor
□Applicable?NotapplicableAnnualundiscountedleasereceiptsforthenextfiveyears
□Applicable?NotapplicableAdjustmenttableforundiscountedleasereceiptsandnetleaseinvestments
(3)Recognitionoffinancialleasesalesgainsandlossesasaproducerordistributor
□Applicable?Notapplicable
83.Dataresources
84.OtherVIII.R&Dexpenditure
InRMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| Employeeremunerationandbenefits | 416,542.20 | 419,172.22 |
| Other | 67,816.57 | 35,041.40 |
| Total | 484,358.77 | 454,213.62 |
| Thereinto:expensedR&Dexpenditure | 484,358.77 | 454,213.62 |
1.R&Dprojectsthatmeettheconditionsforcapitalization
InRMB
| Project | Openingbalance | Amountincreasedinthecurrentperiod | Amountdecreasedinthecurrentperiod | Endingbalance | ||||
| Internaldevelopmentexpenditures | Others | Recognizedasintangibleassets | Transferredtoprofitorlossforthecurrentperiod | |||||
Total
SignificantcapitalizedR&Dprojects
TotalProject
| Project | R&Dprogress | Estimatedcompletiontime | Expectedwayofgeneratingeconomicbenefits | Thepointatwhichcapitalizationbegins | Thespecificbasisforstartingcapitalization |
Provisionforimpairmentofdevelopmentexpenditure
InRMB
| Item | Openingbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance | Impairmenttestsituation |
2.Importantoutsourcingprojectsunderresearch
| Nameofproject | Expectedwayofgeneratingeconomicbenefits | Criteriaandspecificbasisfordeterminingcapitalizationorexpensing |
Othernote:
IX.Changesofconsolidationscope
1.Enterprisecombinedunderdifferentcontrol
(1)EnterprisecombinedunderdifferentcontrolinthePeriod
InRMB
| Acquiree | Timepointforequityobtained | Costofequityobtained | Ratioofequityobtained | AcquiredwayEquityobtainedway | Purchasingdate | Standardtodeterminethepurchasingdate | Incomeofacquireefrompurchasingdateto | Netprofitofacquireefrompurchasingdateto |
| period-end | period-end |
Othernote:
(2)Combinationcostandgoodwill
InRMB
| Consolidationcost |
| --Cash |
| --Fairvalueofnon-cashassets |
| --Fairvalueofdebtsissuedorassumed |
| --Fairvalueofequitysecuritiesissued |
| --Fairvalueofcontingentconsideration |
| --Fairvalueoftheequitypriortothepurchasingdate |
| --Other |
| Totalcombinationcost |
| Less:sharesoffairvalueofidentifiablenetassetsacquired |
| Theamountbywhichthegoodwill/costofconsolidationislessthantheshareoffairvalueofidentifiablenetassetsacquired |
Determinationmethodforfairvalueofthecombinationcost：
Contingentconsiderationandchanges:
Mainreasonsforlargegoodwillresulted:
Othernote:
(3)Identifiableassetsandliabilityonpurchasingdateundertheacquiree
InRMB
| Fairvalueonpurchasingdate | Bookvalueonpurchasingdate | |
| Assets: | ||
| Monetaryfund | ||
| Accountreceivable | ||
| Inventory | ||
| Fixedassets | ||
| Intangibleassets |
Liability:
| Liability: |
| Loan |
| Accountpayable |
| Deferredincometaxliabilities |
Netassets
| Netassets |
| Less:Minorityinterests |
| Netassetsacquired |
Determinationmethodforfairvalueoftheidentifiableassetsandliabilities:
Contingentliabilityoftheacquireebearduringcombination:
Othernote:
(4)Gainsorlossesarisingfromre-measuredbyfairvaluefortheequityheldbeforepurchasingdateWhetheritisabusinesscombinationrealizedbytwoormoretransactionsofexchangeandatransactionofobtainedcontrolrightsinthePeriodornot
□Yes?No
(5)Onpurchasingdateorperiod-endofthecombination,combinationconsiderationorfairvalueof
identifiableassetsandliabilityfortheacquireeareun-abletoconfirmrationally
(6)OtherNote:
2.Enterprisecombineunderthesamecontrol
(1)EnterprisecombinedunderthesamecontrolinthePeriod
InRMB
| Combinedparty | Equityratioobtainedincombination | Basisofcombinedunderthesamecontrol | Combinationdate | Standardtodeterminethecombinationdate | Incomeofthecombinedpartyfromperiod-beginofcombinationtothecombinationdate | Netprofitofthecombinedpartyfromperiod-beginofcombinationtothecombinationdate | Incomeofthecombinedpartyduringthecomparisonperiod | Netprofitofthecombinedpartyduringthecomparisonperiod |
Othernote:
(2)Combinationcost
InRMB
| Consolidationcost |
| --Cash |
| --Bookvalueofnon-cashassets |
| -Bookvalueofdebtsissuedorassumed |
| --Thefacevalueoftheequitysecuritiesissued |
| --Contingentconsideration |
Explanationoncontingentconsiderationanditschanges:
Othernote:
(3)Bookvalueoftheassetsandliabilityofthecombinedpartyoncombinationdate
InRMB
| Consolidationdate | Endoflastperiod | |
| Assets: | ||
| Monetaryfund | ||
| Accountreceivable | ||
| Inventory | ||
| Fixedassets |
IntangibleassetsLiability:
| Liability: |
| Loan |
| Accountpayable |
Netassets
| Netassets |
| Less:Minorityinterests |
| Netassetsacquired |
Contingentliabilityofthecombinedpartybearduringcombination:
Othernote:
3.CounterpurchaseBasictransactioninformation,basisofcounterpurchase,whethermakingupbusinessduetotheassetsandliabilityreservedbylistedcompanyandbasis,determinationofcombinationcost,amountandcalculationonadjustedequitybyequitytransaction:
4.SubsidiarydisposalWhetherlostcontrollingrightswhiledisposesubsidiaryononetimeornot
□Yes?NoWhetherlostcontrollingrightsinthePeriodwhiledisposesubsidiaryontwoormorestepsornot
□Yes?No
5.OtherreasonsforconsolidationrangechangedReasonsforchangedonconsolidationrange(suchasnewsubsidiaryestablished,subsidiaryliquidatedetc.)Andrelevantinformation:
6.OtherX.Equityinotherentity
1.Equityinsubsidiary
(1)Constituteofenterprisegroup
InRMB
| Subsidiary | Registeredcapital | Mainoperationplace | Registeredplace | Businessnature | Share-holdingratio | Acquiredway | |
| Directly | Indirectly | ||||||
| ShenzhenXinsenJewelryGoldCo.,Ltd | 200,000,000.00 | Shenzhen | Shenzhen | SalesofJewelry,diamondsandgold | 100.00% | Investment | |
| ShenzhenXinsen | 5,000,000.00 | Shenzhen | Shenzhen | Jewelry,diamonds, | 100.00% | Investment | |
| PrecisionManufacturingCo.,Ltd. | goldprocessing | ||||||
| DongguanXinsenJewelryCo.,Ltd | 5,000,000.00 | Dongguan | Dongguan | Jewelry,diamonds,goldprocessing | 100.00% | Investment | |
| ShenzhenJiuchengCultureTechnologyCo.,Ltd | 40,000,000.00 | Shenzhen | Shenzhen | Jewelry,diamonds,goldprocessing | 51.00% | Investment | |
| ShenzhenJiuchengCultureTechnologyCo.,Ltd | 50,000,000.00 | Shenzhen | Shenzhen | Jewelry,diamonds,goldprocessing | 38.25% | Investment | |
| ShenzhenEmmelleIndustrialCo.,Ltd. | 5,000,000.00 | Shenzhen | Shenzhen | Distributionofbicyclesandspareparts | 70.00% | Investment | |
| ShenzhenEmmelleCloudTechnologyCo.,Ltd. | 2,000,000.00 | Shenzhen | Shenzhen | Softwareandinformationtechnologyservicesales | 49.00% | Investment | |
| FujianHuaxinbaoJewelryCo.,Ltd. | 10,000,000.00 | Putian | Putian | SalesofJewelry,diamondsandgold | 100.00% | Investment | |
| PutianKaipuTechnologyPartnership(LP) | 3,000,000.00 | Putian | Putian | Outboundinvestment | 1.00% | Investment | |
| ShenzhenHuabaoZhenxuanJewelryCo.,Ltd. | 5,000,000.00 | Shenzhen | Shenzhen | SalesofJewelry,diamondsandgold | 100.00% | Investment | |
| HainanShenhuaIndustrialCo.,Ltd. | 5,000,000.00 | Haikou | Haikou | Importandexport,trade,industry | 100.00% | Investment | |
| ShenzhenYunyouxuanJewelryTechnologyCo.,Ltd. | 15,000,000.00 | Shenzhen | Shenzhen | SalesofJewelry,diamondsandgold | 35.00% | 0.20% | Investment |
| HangzhouHuabaohuiDigitalCultureCoLtd | 5,000,000.00 | Hangzhou | Hangzhou | SalesofJewelry,diamondsandgold | 100.00% | Investment | |
| TibetJinyayaJewelryTradingCo.,Ltd. | 2,000,000.00 | Lhasa | Lhasa | SalesofJewelry,diamondsandgold | 100.00% | Investment |
| ZhenhuaInternationalCo.,Ltd. | 20,700,690.00 | HONGKANG | HONGKANG | SalesofJewelry,diamondsandgold | 100.00% | Investment |
Explanationonshare-holdingratioinsubsidiarydifferentfromratioofvotingright:
Note：
1.TheSubsidiaryPutianKaipuTechnologyPartnership(LimitedPartnership)consistsofonegeneralpartner,FujianHuaxinbaoJewelryCo.,Ltd.andthreelimitedpartners.Thepartnershipagreementdesignatesthegeneralpartnerastheexecutivepartner,whileestablishinganInvestmentDecisionCommitteecomprisingfourmembers(threeappointedbythegeneralpartnerandonejointlyappointedbylimitedpartners)astheinvestmentdecision-makingbody.
2.TheSubsidiaryShenzhenCloudPreferredJewelryTechnologyCo.,Ltd.is35%ownedbyShenzhenChinaBicycleand20%byPutianKaipuTechnologyPartnership(LimitedPartnership),totally55%ownershipbytheabovetwo.Basisforcontrollingtheinvestedentitywithhalforbelowvotingrightsheldandwithoutcontrollinginvestedentitybutwithoverhalfandovervotingrights:
Controllingbasisforthestructuringentityincludedinconsolidatedrange:
Basisondeterminingtobeanagentorconsignor:
Othernote
(2)Importantnon-wholly-ownedsubsidiary
InRMB
| Subsidiary | Share-holdingratioofminority | Gains/lossesattributabletominorityinthePeriod | DividendannouncedtodistributeforminorityinthePeriod | Endingequityofminority |
Othernote
(3)Mainfinanceoftheimportantnon-wholly-ownedsubsidiary
InRMB
| Subsidiary | Endingbalance | Openingbalance | ||||||||||
| Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | |
InRMB
| Subsidiary | Currentperiodincurred | Priorperiodincurred | ||||||
| Operationrevenue | Netprofit | Totalcomprehensiveincome | Cashflowfromoperationactivity | Operationrevenue | Netprofit | Totalcomprehensiveincome | Cashflowfromoperationactivity | |
Othernote：
(4)Majorrestrictiononusingcorporateassetsandliquidatecorporatedebts
(5)FinancialorothersupportingprovidedtostructuringentitythatincludedinconsolidatedfinancialstatementOthernote:
2.Transactionthathasownersequityshareschangedinsubsidiarybutstillwithcontrollingrights
(1)Ownersequityshareschangedinsubsidiary
(2)Impactonminority’sinterestandowners’equityattributabletoparentcompany
InRMB
| Purchasecost/disposalconsideration |
| --Cash |
| --Fairvalueofnon-cashassets |
Purchasecost/totaldisposalconsideration
| Purchasecost/totaldisposalconsideration |
| Less:Subsidiary'sshareofnetassetscalculatedbasedontheproportionofacquired/disposedequity |
| Difference |
| Including:Adjustcapitalpublicreserve |
| Adjustsurpluspublicreserve |
| Adjustedretainedprofit |
Othernote
3.Equityinjointventureandassociatedenterprise
(1)Importantjointventureorassociatedenterprise
| Jointventureorassociatedenterprise | Mainoperationplace | Registeredplace | Businessnature | Share-holdingratio | Accountingtreatment | |
| Directly | Indirectly | |||||
Share-holdingratioorsharesenjoyeddifferentfromvotingrightratio:
Basisofthevotingrightswith20%belowbutwithmajorinfluence,orwithoutmajorinfluencebutwithover20%(20%included)votingrightshold:
(2)Mainfinancialinformationoftheimportantjointventure
InRMB
| Endingbalance/Currentperiodincurred | Openingbalance/Priorperiodincurred |
Currentassets
| Currentassets |
| Including:cashandcashequivalent |
| Non-currentassets |
| Totalassets |
| Currentliabilities |
| Non-currentliabilities |
| Totalliabilities |
| Minorityinterests |
| Shareholders'equityattributabletotheparentcompany |
| Shareofnetassetscalculatedbyshareholdingratio |
| Adjustmentitems |
| --Goodwill |
| --Unrealizedprofitofinternaltrading |
| --Other |
| Bookvalueofequityinvestmentinjointventure |
| Fairvalueoftheequityinvestmentofjointventureswithpublicoffersconcerned |
| Operationrevenue |
| Financialexpenses |
| Incometaxexpense |
| Netprofit |
| Netprofitofdiscontinuingoperation |
| Othercomprehensiveincome |
| Totalcomprehensiveincome |
Dividendsreceivedfromjointventureintheyear
Othernote
(3)Mainfinancialinformationoftheimportantassociatedenterprise
InRMB
DividendsreceivedfromjointventureintheyearEndingbalance/Currentperiodincurred
| Endingbalance/Currentperiodincurred | Openingbalance/Priorperiodincurred |
Currentassets
| Currentassets |
| Non-currentassets |
| Totalassets |
| Currentliabilities |
| Non-currentliabilities |
| Totalliabilities |
Minorityinterests
| Minorityinterests |
| Equityattributabletoshareholderofparentcompany |
| Shareofnetassetsmeasuredbyshareholding |
| Adjustment |
| --Goodwill |
| --Unrealizedprofitofinternaltrading |
| --Other |
| Bookvalueofequityinvestmentinassociatedenterprise |
| Fairvalueoftheequityinvestmentofassociatedenterprisewithpublicoffersconcerned |
| Operationrevenue |
| Netprofit |
| Netprofitofdiscontinuingoperation |
| Othercomprehensiveincome |
| Totalcomprehensiveincome |
Dividendsreceivedfromassociatedenterpriseintheyear
Othernote
(4)Financialsummaryforun-importantjointventureorassociatedenterprise
InRMB
DividendsreceivedfromassociatedenterpriseintheyearEndingbalance/Currentperiodincurred
| Endingbalance/Currentperiodincurred | Openingbalance/Priorperiodincurred | |
| Jointventure： | ||
| Totalnumbersmeasuredbyshare-holdingratio | ||
| Associatedenterprise： | ||
| Totalbookvalueoftheinvestment | 830,481.86 | 830,481.86 |
| Totalnumbersmeasuredbyshare-holdingratio |
Othernote:
(5)Assetstransferabilityhasmajorrestrictionfromjointventureorassociatedenterprise
(6)Excesslossesfromjointventureorassociatedenterprise
InRMB
| Jointventureorassociatedenterprise | Cumulativeun-confirmedlosses | Un-confirmedlossesnotrecognizedinthePeriod(ornetprofitenjoyedinthePeriod) | Cumulativeun-confirmedlossesatperiod-end |
Othernote:
(7)Un-confirmedcommitmentwithinvestmentconcernedwithjointventure
(8)Contingentliabilitywithinvestmentconcernedwithjointventureorassociatedenterprise
4.Co-runsoperation
| Name | Mainoperationplace | Registeredplace | Businessnature | Share-holdingratio/shareenjoyed | |
| Directly | Indirectly | ||||
Share-holdingratioorsharesenjoyeddifferentfromvotingrightratio:
Iftheco-runsentityistheseparateentity,basisoftheco-runsclassificationOthernote:
5.Equityinstructuringentitythatexcludingintheconsolidatedfinancialstatement
6.OtherXI.Governmentsubsidy
1.Governmentsubsidiesrecognizedaccordingtothereceivableamountattheendofthereportingperiod
□Applicable?NotapplicableThereasonfornotreceivingtheestimatedamountofgovernmentsubsidiesattheexpectedpointintime
□Applicable?Notapplicable
2.Liabilitiesinvolvinggovernmentsubsidies
□Applicable?Notapplicable
3.Governmentsubsidiesincludedinthecurrentprofitandloss
□Applicable?NotapplicableXII.RisksRelatedtoFinancialInstruments
1.Risksarisingfromfinancialinstruments
TheCompany'smainfinancialinstrumentsincludemonetaryfunds,accountsreceivable,receivablesfinancing,otherreceivables,othercurrentassets,accountspayable,otherpayables,short-termborrowings,othercurrentliabilities,etc.Detailsofthefinancialinstrumentsareprovidedintherelevantnotestothefinancialreport.
TheCompany'sriskmanagementobjectiveistoachieveanappropriatebalancebetweenrisksandreturns,tominimizethenegativeimpactofrisksontheCompany'soperatingresults,andtomaximizetheinterestsofshareholdersandotherequityinvestors.Basedonthisriskmanagementobjective,thebasicstrategyoftheCompany'sriskmanagementistoidentifyandanalyzethevariousrisksfacedbytheCompany,establishanappropriaterisktolerancebaselineandconductriskmanagement,andmonitorvariousrisksinatimelyandreliablemannertocontroltheriskswithinalimitedrange.
ThemainrisksassociatedwiththeCompany'sfinancialinstrumentsarecreditrisk,liquidityriskandmarketrisk.TheCompany'smanagementisfullyresponsibleforthedeterminationofriskmanagementobjectiveandpolicy,andbearsultimateresponsibilityforriskmanagementobjectiveandpolicy.Managementreviewstheeffectivenessoftheimplementedproceduresandthereasonablenessofriskmanagementobjectiveandpolicythroughworkreportssubmittedbyfunctionaldepartments.
(A)Creditrisk
Creditriskreferstotheriskthatonepartytoafinancialinstrumentwillfailtoperformitsobligations,resultinginfinanciallossestotheotherparty.Inordertomitigatecreditrisk,theCompanyhasestablishedinternalcontrolpolicyresponsiblefordeterminingcreditlimits,conductingcreditapprovals,includingexternalcreditratingsand,insomecases,bankreferences(wherethisinformationisavailable),andimplementingothermonitoringprocedurestoensurethatnecessarymeasuresaretakentorecoveroverduecreditor'sright.Asaresult,themanagementoftheCompanyconsidersthatthecreditriskassumedbytheCompanyhasbeensignificantlyreduced.
ThecreditriskoftheCompanymainlyarisesfrombankdeposits,accountsreceivable,prepayments,otherreceivables,etc.,andthecreditriskofthesefinancialassetsisderivedfromthedefaultofthecounterparty,andthemaximumriskexposureisequaltothecarryingamountoftheseinstruments.
1.TheCompany'sworkingcapitalisdepositedinabankwithahighcreditrating,thusthecreditriskoftheworkingcapitalislow.
2.Onthebalancesheetdate,theCompanymadeprovisionforbaddebtsinaccordancewiththeaccountingpolicy.(B)Liquidityrisk
Liquidityriskreferstotheriskthatanenterprisewillhaveashortageoffundswhenfulfillingitsobligationtosettlebymeansofcashorotherfinancialassets.ItistheCompany'spolicytoensurethatithassufficientcashtopayoffitsdebtsastheyfalldue.LiquidityriskiscentrallycontrolledbytheCompany'sfinancedepartment.Thefinancedepartmentmonitorscashbalances,marketablesecuritiesthatcanbeliquidatedatanytime,etc.,toensurethattheCompanyhassufficientfundstorepayitsdebtsunderallreasonablyforeseeablecircumstances.(C)Marketrisk
Marketriskreferstotheriskthatthefairvalueorfuturecashflowsoffinancialinstrumentswillfluctuateduetochangesinmarketprices,includinginterestraterisk,foreignexchangeriskandotherpricerisks.Interestrateriskreferstotheriskthatthefairvalueorfuturecashflowsofafinancialinstrumentwillfluctuateduetochangesinmarketinterestrates.TheinterestrateriskfacedbytheCompanymainlycomesfrombankdeposits.
2.Hedging
(1)TheCompanyconductshedgingbusinessforriskmanagement
□Applicable?Notapplicable
(2)TheCompanyconductsqualifiedhedgingbusinessandapplieshedgeaccounting
InRMB
| Item | Thecarryingamountassociatedwiththehedgeditemandthehedginginstrument | Thecumulativefairvaluehedgeadjustmentofthehedgeditemsincludedintherecognizedcarryingamountofthehedgeditems | Sourcesofhedgeeffectivenessandhedgeineffectivenesspart | TheimpactofhedgeaccountingontheCompany'sfinancialreport |
| Typeofhedgingrisk | ||||
| Hedgingcategory | ||||
Othernote:
（3）TheCompanyconductshedgingbusinessforriskmanagementandexpectstoachieveriskmanagementobjectivebutdoesnotapplyhedgeaccounting
□Applicable?Notapplicable
3.Financialassets
(1)Classificationoftransfermethods
□Applicable?Notapplicable
(2)Financialassetsthathavebeenderecognizedasaresultofatransfer
□Applicable?Notapplicable
(3)Financialassetsofcontinuedinvolvementinassettransfer
□Applicable?NotapplicableOthernote:
XIII.Disclosureoffairvalue
1.Endingfairvalueoftheassetsandliabilitiesmeasuredbyfairvalue
InRMB
| Item | Endingfairvalue | |||
| First-order | Second-order | Third-order | Total | |
| I.Sustainingmeasuredbyfairvalue | -- | -- | -- | -- |
| II.Non-sustainingmeasuredbyfairvalue | -- | -- | -- | -- |
2.Recognizedbasisforthemarketpricesustainingandnon-persistentmeasuredbyfairvalueonfirst-orderThequotedpriceswithoutadjustmentintheactivemarketsforidenticalassetsorliabilitiesthatareavailableatthemeasurementdate.
3.Valuationtechniqueandqualitativeandquantitativeinformationonmajorparametersforthefairvaluemeasuresustainingandnon-persistentonsecond-orderTheinputsforsecond-orderareinputsotherthanfirst-orderforwhichtherelatedassetsorliabilitiesaredirectlyorindirectlyobservable
4.Valuationtechniqueandqualitativeandquantitativeinformationonmajorparametersforthefairvaluemeasuresustainingandnon-persistentonthird-orderThethird-orderinputsareunobservableinputsfortheunderlyingassetsorliabilities.Thefairvalueofthebankacceptancebillreceivablefrombankisdeterminedusingthefaceamountbecausetheprobabilityoflossissmallandtherecoverableamountisbasicallydetermined
5.Adjustmentinformationandsensitivityanalysisofunobservableparametersforthefairvaluemeasuresustainingandnon-persistentonthird-orderNone
6.Sustainingitemsmeasuredbyfairvalue,asfortheconversionbetweenatalllevels,reasonsforconversionandpolicyforconversiontimepoint
None
7.ChangesofvaluationtechniqueinthePeriod
None
8.FinancialassetsandliabilitynotmeasuredbyfairvalueNone
9.OtherNoneXIV.Relatedpartyandrelatedtransactions
1.Parentcompany
| Parentcompany | Registeredplace | Businessnature | Registeredcapital | Share-holdingratioontheenterpriseforparentcompany | Votingrightratioontheenterprise |
| WanshengIndustrialHoldings(Shenzhen)Co.,Ltd. | Shenzhen | Investmentinindustry | 500millionYuan | 20.00% | 20.00% |
Explanationonparentcompanyoftheenterprise
WanshengIndustrialHoldings(Shenzhen)Co.,Ltd.wasestablishedonMay10,2016,withthebusinessperiodisfromMay10,2016tonofixedterm,theregisteredcapitalofthecompanyis500,000,000yuan,theunifiedsocialcreditcodeis91440300MA5DCB5K9A,theenterprisetypeisalimitedliabilitycompany,thelegalrepresentativeisWangShenghong,andthecompany'sregisteredaddressis1311,BeiyuehuiBuilding,No.2115,CuizhuRoad,CuijinCommunity,CuizhuStreet,LuohuDistrict,Shenzhen.UltimatecontrolleroftheCompany:WangShenghongOthernote:
2.SubsidiaryoftheEnterpriseFoundmoreinNoteX1,(1)
3.AssociatedenterpriseandjointventureFoundmoreinNoteOtherassociatedenterpriseandjointventurethathaverelatedtransactionwiththeCompanyinthePeriodoroccurredinpreviousperiod
| Jointventureorassociatedenterprise | RelationshipwiththeCompany |
Othernote:
4.Otherrelatedparty
| Otherrelatedparty | RelationshipwiththeCompany |
| ShenzhenGuochengEnergyInvestmentDevelopmentCo.,Ltd. | Enterprisethatholdsmorethan5%ofthesharesofShenzhenChina |
| ShenzhenXinxuanTechnologyCo.,Ltd. | Theassociatedenterprise,HangzhouHuabaohuiDigitalCultureCo.,Ltd.holds40%equityoftheCompany |
Othernote:
5.Relatedtransaction
(1)Goodspurchasing,laborserviceprovidingandreceivingGoodspurchasing/laborservicereceiving
InRMB
| Relatedparty | Transactioncontent | Currentperiodincurred | Approvedtransactionamount | Whethermorethanthetransactionamount | Priorperiodincurred |
Goodssold/laborserviceproviding
InRMB
| Relatedparty | Transactioncontent | Currentperiodincurred | Priorperiodincurred |
Explanationongoodspurchasing,laborserviceprovidingandreceiving
(2)Relatedtrusteeship/contractanddelegatedadministration/outsourcingTrusteeship/contract
InRMB
| Client/contract-outparty | Entrustingparty/contractor | Assetstype | Startingdate | Maturitydate | Yieldpricingbasis | Incomefromtrusteeship/contract |
Explanationonrelatedtrusteeship/contractDelegatedadministration/outsourcing
InRMB
| Client/contract-outparty | Entrustingparty/contractor | Assetstype | Startingdate | Maturitydate | Pricingbasisoftrusteefee/outsourcingfee | Trusteefee/outsourcingfeerecognizedinthePeriod |
Explanationonrelatedadministration/outsourcing
(3)RelatedleaseAsalessorfortheCompany::
InRMB
| Lessee | Assetstype | LeaseincomerecognizedinthePeriod | LeaseincomerecognizedinpriorPeriod |
AsalesseefortheCompany:
InRMB
| Lessor | Assetstype | rentalcostforshort-termleasesandlow-valueassetsleaseswithsimplifiedprocessing(ifapplicable) | Variableleasepaymentnotincludedinthemeasurementofleasingliability(ifapplicable) | Rentalpaid | Interestexpensesassumedonleaseliability | Right-of-useassetsincreased | |||||
| Currentperiodincurred | Priorperiodincurred | Currentperiodincurred | Priorperiodincurred | Currentperiodincurred | Priorperiodincurred | Currentperiodincurred | Priorperiodincurred | Currentperiodincurred | Priorperiodincurred | ||
Explanationonrelatedlease
(4)RelatedguaranteeAsaguarantorfortheCompany
InRMB
| Securedparty | Amountguarantee | Startingdate | Duedate | Guaranteecompleted(Y/N) |
AsasecuredpartyfortheCompany
InRMB
| Guarantor | Amountguarantee | Startingdate | Duedate | Guaranteecompleted(Y/N) |
Explanationonrelatedguarantee
(5)Borrowedfundsofrelatedparty
InRMB
| Relatedparty | Borrowedfunds | Startingdate | Duedate | Note |
| Borrowing | ||||
| Lending | ||||
(6)Assetstransferanddebtrestructuringofrelatedparty
InRMB
| Relatedparty | Transactioncontent | Currentperiodincurred | Priorperiodincurred |
(7)Remunerationofkeymanager
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
| Remunerationofkeymanager | 1,054,848.66 | 1,037,574.77 |
(8)Otherrelatedtransactions
6.Receivable/payableitemsofrelatedparties
(1)Receivableitem
InRMB
| Item | Relatedparty | Endingbalance | Openingbalance | ||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | ||
| Otherreceivable | WanshengIndustrialHoldings(Shenzhen)Co.,Ltd. | 0 | 0 | 18,154,754.41 | 0 |
(2)Payableitem
InRMB
| Item | Relatedparty | Endingbookbalance | Openingbookbalance |
| Otheraccountpayable | ShenzhenGuoshengEnergyInvestmentDevelopmentCo.,Ltd. | 6,500,000.00 | 6,500,000.00 |
| Otheraccountpayable | ShenzhenXinxuanTechnologyCo.,Ltd. | 760,000.00 | 2,000,000.00 |
7.Commitmentsofrelatedparty
AccordingtotheCooperationAgreementsignedbyShenzhenChinaBicycleCompany(Holdings)Co.,Ltd.withWanshengIndustrialHoldings(Shenzhen)Co.,Ltd.(hereinafterreferredtoas"WanshengIndustrial")andShenzhenGuoshengEnergyInvestmentandDevelopmentCo.,Ltd.(hereinafterreferredtoas"GuoshengEnergy")onDecember14,2020,WanshengIndustrialpromisedthatinthenextthreeyearsfromthenextyearafterthecompletionofthenon-publicissuanceofsharesandthecompletionoftheadjustmentoftheboardofdirectorsandboardofsupervisorsofthelistedcompanybyWanshengIndustrial,thenetprofitofthelistedcompanyshallnotbelessthanRMB30millionyuan,35millionyuanand40millionyuan,thatis,thecumulativenetprofitscaleis105millionyuan.Ifthecumulativeactualnetprofitofthelistedcompanyasofanyyearduringtheperformancecommitmentperioddoesnotreachthepromisedcumulativenetprofit,WanshengIndustrialshallcompensatethelistedcompanyincashwithin10workingdaysaftertheissuanceoftheauditreportofthelistedcompanyintheyearduringtheperformancecommitmentperiod.Theamountofcompensationpayablefortheyeariscalculatedasfollows:amountofcompensationpayablefortheyear=cumulativecommittednetprofitasoftheendoftheperiodminuscumulativerealizednetprofitasoftheendoftheperiodminuscumulativecompensationamount(ifany).
Uptonow,theperformancecompensationcommitmentfor2023and2024havebeencompleted,andithasbeenperformednormallyintheremainingyears.
8.Other
NoneXV.Share-basedpayment
1.Generalshare-basedpayment
□Applicable?Notapplicable
2.Share-basedpaymentsettledbyequity
□Applicable?Notapplicable
3.Share-basedpaymentsettledbycash
□Applicable?Notapplicable
4.Thecurrentshareswillpaythefee
□Applicable?Notapplicable
5.Revisedandterminationonshare-basedpaymentNone
6.OtherNoneXVI.Commitmentorcontingency
1.ImportantcommitmentsImportantcommitmentsinbalancesheetdateNone
2.Contingency
(1)ContingencyonbalancesheetdateNone
(2)FortheimportantcontingencynotnecessarytodisclosedbytheCompany,explainedreasonsTheCompanyhasnoimportantcontingencythatneedtodisclosed
3.OtherNoneXVII.Eventsafterbalancesheetdate
1.Importantnon-adjustmentitems
InRMB
| Item | Content | Impactonfinancialstatusandoperationresults | Reasonsonun-abletoestimatedtheimpactnumber |
2.ProfitdistributionNone
3.SalesreturnNone
4.OthereventsafterbalancesheetdateNone
XVIII.Otherimportantevents
1.Previousaccountingerrorscollection
(1)Retrospectiverestatement
InRMB
| Correctioncontent | Treatmentprocedures | Impactitemsofstatementduringacomparison | Cumulativeimpactednumber |
(2)Prospectiveapplication
| Correctioncontent | Approvalprocedures | Reasonsforprospectiveapplicationadopted |
2.DebtrestructuringNone
3.Assetsreplacement
(1)Non-monetaryassetschangeNone
(2)OtherassetsreplacementNone
4.PensionplanNone
5.Discontinuedoperations
InRMB
| Item | Revenue | Expenses | Totalprofit | Incometaxexpenses | Netprofit | Discontinuedoperationsprofitattributabletoownersofparentcompany |
Othernote:
None
6.Segment
(1)RecognitionbasisandaccountingpolicyforreportablesegmentTheCompanydeterminesitsbusinesssegmentsbasedonitsinternalorganizationalstructure,managementrequirements,andinternalreportingsystem.TheCompany'sbusinesssegmentsarethosethatmeetthefollowingconditionsatthesametime:
(1)Thecomponentiscapableofgeneratingincomeandincurringexpensesinitsdailyactivities;
(2)Managementisabletoregularlyevaluatetheoperatingresultsofthecomponentinordertodecideontheallocationofresourcestoitandevaluateitsperformance;
(3)Abletoobtainaccountinginformationrelatedtothefinancialposition,resultsofoperationsandcashflowsofthecomponent.
TheCompanydeterminesthereportingsegmentonthebasisoftheindustrysegment.
Segmentreportinginformationisdisclosedinaccordancewiththeaccountingpolicyandmeasurementstandardsadoptedbyeachsegmentinreportingtomanagement,whichareconsistentwiththoseatthetimeofpreparationofthefinancialreport.
(2)Financialinformationforreportablesegment
InRMB
| Item | Goldjewelry | Bicycle | Offsetbetweensegments | Total |
| Mainbusinessincome | 318,979,752.50 | 963,864.13 | 319,943,616.60 | |
| Mainbusinesscost | 284,449,986.80 | 639,146.78 | 285,089,133.50 | |
| Gross |
(3)TheCompanyhasnoreportablesegments,orunabletodisclosetotalassetsandtotalliabilityforreportablesegments,explainreasons
(4)Othernote:
7.Majortransactionandeventsmakesinfluenceoninvestor’sdecisionNone
8.OtherNoneXIX.Principlenotesoffinancialstatementsofparentcompany
1.Accountreceivable
（1）Disclosureaccordingtotheaging
InRMB
| Aging | Balanceinyear-end | BalanceYear-beginning |
| Withinoneyear(oneyearincluded) | 109,793,036.64 | 95,747,214.26 |
| 1-2years | 157,000.20 | 157,000.20 |
| 2-3years | 5,451,739.81 | 5,451,739.81 |
| Over3years | 13,098,397.02 | 13,113,397.02 |
| 3-4years | 10,762,472.02 | 10,762,472.02 |
| 4-5years | 1,115,247.00 | 1,115,247.00 |
| Over5years | 1,220,678.00 | 1,235,678.00 |
| Total | 128,500,173.67 | 114,469,351.29 |
（2）Accordingtothebaddebtprovisionmethodclassificationdisclosure
InRMB
| Category | Amountinyear-end | BalanceYear-beginning | ||||||||
| BookBalance | Baddebtprovision | Bookvalue | BookBalance | Baddebtprovision | Bookvalue | |||||
| Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
| Accrualofbaddebtprovisionbysingle | 18,684,837.03 | 14.54% | 18,554,899.43 | 99.30% | 129,937.60 | 18,699,837.03 | 16.34% | 17,773,041.59 | 95.04% | 926,795.44 |
| Including： | ||||||||||
| Singleidentification | 18,684,837.03 | 14.54% | 18,554,899.43 | 99.30% | 129,937.60 | 18,699,837.03 | 16.34% | 17,773,041.59 | 95.04% | 926,795.44 |
| Accrualofbaddebt | 109,815,336.64 | 85.46% | 26,370.76 | 0.02% | 109,788,965.88 | 95,769,514.26 | 83.66% | 78,660.84 | 0.08% | 95,690,853.42 |
| provisionbyportfolio | ||||||||||
| Including： | ||||||||||
| Agingportfolio | 109,815,336.64 | 85.46% | 26,370.76 | 0.02% | 109,788,965.88 | 95,769,514.26 | 83.66% | 78,660.84 | 0.08% | 95,690,853.42 |
| Total | 128,500,173.67 | 100.00% | 18,581,270.19 | 14.46% | 109,918,903.48 | 114,469,351.29 | 100.00% | 17,851,702.43 | 15.60% | 96,617,648.86 |
Baddebtprovisionaccrualonsinglebasis:Singleidentification
InRMB
| Name | Openingbalance | Endingbalance | ||||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | Accrualratio | Reasonforaccrual | |
| GuangshuiJiaxuEnergyTechnologyCo.,Ltd. | 15,937,156.89 | 15,140,299.05 | 15,937,156.89 | 15,937,156.89 | 100.00% | Expectedtobedifficulttorecover |
| SuzhouJiaxinEconomicTradeCo.,Ltd. | 888,757.00 | 888,757.00 | 888,757.00 | 888,757.00 | 100.00% | Expectedtobedifficulttorecover |
| SuzhouDamingVehicleIndustryCo.,Ltd. | 649,688.00 | 519,750.40 | 649,688.00 | 519,750.40 | 80.00% | Expectedtobedifficulttorecover |
| DongguanDaxiangNewEnergyCo.,Ltd. | 564,734.00 | 564,734.00 | 549,734.00 | 549,734.00 | 100.00% | Expectedtobedifficulttorecover |
| GuangdongXinlingjiaNewEnergyCo.,Ltd. | 348,136.00 | 348,136.00 | 348,136.00 | 348,136.00 | 100.00% | Expectedtobedifficulttorecover |
| TianjinHuijuElectricVehicleCo.,Ltd. | 116,840.14 | 116,840.14 | 116,840.14 | 116,840.14 | 100.00% | Expectedtobedifficulttorecover |
| Other | 194,525.00 | 194,525.00 | 194,525.00 | 194,525.00 | 100.00% | Expectedtobedifficulttorecover |
| Total | 18,699,837.03 | 17,773,041.59 | 18,684,837.03 | 18,554,899.43 | ||
Baddebtprovisionaccrualonportfolio:Agingportfolio
InRMB
| NameoftheCompany | Endingbalance | ||
| Bookbalance | Baddebtprovision | Accrualratio | |
| Withinoneyear(oneyearincluded) | 109,793,036.64 | 10,979.30 | 0.01% |
| 1-2years | |||
| 2-3years | 22,300.00 | 15,391.46 | 69.02% |
| 3-4years | |||
| 4-5years | |||
| Over5years | ||
| Total | 109,815,336.64 | 26,370.76 |
Explanationonportfoliobasis:
Iftheprovisionforbaddebtsofaccountreceivableismadeinaccordancewiththegeneralmodelofexpectedcreditlosses,pleaserefertothedisclosureofotheraccountreceivabletodiscloserelatedinformationaboutbad-debtprovisions:
□Applicable?Notapplicable
(3)Baddebtprovisionaccrual,collectedorreversalintheperiodAccrualofbaddebtprovisionintheperiod:
InRMB
| Category | Openingbalance | Currentchanges | Endingbalance | |||
| Accrual | Collectedorreversal | Writeoff | Other | |||
| Accountsreceivablewithindividualprovisionforbaddebts | 17,773,041.59 | 781,857.84 | 18,554,899.43 | |||
| Provisionforbaddebtsbasedonaportfolioofcreditriskcharacteristics | 78,660.84 | 52,290.08 | 26,370.76 | |||
| Total | 17,851,702.43 | 781,857.84 | 52,290.08 | 18,581,270.19 | ||
Includingimportantamountofbaddebtprovisioncollectedorreversalintheperiod:
InRMB
| Nameoftheorganization | Amountrecoveredorreversed | Reasonforreversal | Recoverymethod | Thebasisandrationalityfordeterminingtheprovisionratiooforiginalbaddebtprovision |
(4)Accountreceivablesactuallywrite-offduringthereportingperiod
InRMB
| Item | Amountwrittenoff |
Includingmajoraccountreceivableswrite-off:
InRMB
| Enterprise | Nature | Amountwrittenoff | Causes | Procedure | Amountcausebyrelatedtransactionsornot(Y/N) |
Explanationonaccountreceivablewrite-off:
(5)Thetopfiveaccountsreceivableandcontractassetsattheendoftheperiodaggregatedaccordingtodebtor
InRMB
| Nameoftheorganization | Endingbalanceofaccountsreceivable | Endingbalanceofcontractassets | Endingbalanceofaccountsreceivableandcontractassets | Proportiontothetotalendingbalanceofaccountsreceivableandcontractassets | Endingbalanceofaccountsreceivablebaddebtprovisionandcontractassetimpairmentprovision |
| FuzhouRongrunJewelryCo.,Ltd | 32,115,392.22 | 32,115,392.22 | 24.99% | 3,211.54 | |
| FuzhouCangshanDistrictDingjueJewelryCompany | 26,168,281.75 | 26,168,281.75 | 20.36% | 2,616.83 | |
| FuzhouZhuanjinsenJewelryCo.,Ltd. | 19,765,332.64 | 19,765,332.64 | 15.38% | 1,976.53 | |
| ShenzhenYunshangJewelryCo.,Ltd | 16,459,912.72 | 16,459,912.72 | 12.81% | 1,645.99 | |
| GuangshuiJiaxuEnergyTechnologyCo.,Ltd | 15,937,156.89 | 15,937,156.89 | 12.40% | 15,937,156.89 | |
| Total | 110,446,076.22 | 110,446,076.22 | 85.94% | 15,946,607.78 |
2.Otheraccountreceivable
InRMB
| Item | Endingbalance | Openingbalance |
| Otheraccountreceivable | 54,082,886.47 | 59,769,403.49 |
| Total | 54,082,886.47 | 59,769,403.49 |
(1)Interestreceivable
1)Category
InRMB
| Item | Endingbalance | Openingbalance |
2)Importantoverdueinterest
InRMB
| Borrower | Endingbalance | Overduetime | Overduereason | Impairment(Y/N)andjudgmentbasis |
Othernote:
3)Accrualofbaddebtprovision
□Applicable?Notapplicable4）Baddebtprovisionaccrual,collectedorreversalintheperiod
InRMB
| Category | Openingbalance | Currentchanges | Endingbalance | |||
| Accrual | Collectedorreversal | Writeoff | Other | |||
Includingimportantamountofbaddebtprovisioncollectedorreversalintheperiod:
InRMB
| Nameoftheorganization | Amountrecoveredorreversed | Reasonforreversal | Recoverymethod | Thebasisandrationalityfordeterminingtheprovisionratiooforiginalbaddebtprovision |
Othernote:
5）Interestreceivablesactuallywrittenoffinthecurrentperiod
InRMB
| Item | Write-offamount |
ImportantInterestreceivableswrite-offstatusthereinto:
InRMB
| NameofOrganization | AmountNature | Write-offamount | Write-offreason | Write-offproceduresforfulfillment | Whetherthepaymentisgeneratedbyarelatedpartytransaction |
Note：
Othernote：
(2)Dividendreceivable
1)Category
InRMB
| Item(ortheinvestedentity) | Endingbalance | Openingbalance |
2)Importantdividendreceivablewithoveroneyearaged
InRMB
| Item(ortheinvested | Endingbalance | Accountage | Causesoffailurefor | Impairment(Y/N)and |
| entity) | collection | judgmentbasis |
3)Accrualofbaddebtprovision
□Applicable?Notapplicable4）Baddebtprovisionaccrual,collectedorreversalintheperiod
InRMB
| Category | Openingbalance | Currentchanges | Endingbalance | |||
| Accrual | Collectedorreversal | Writeoff | Other | |||
Includingimportantamountofbaddebtprovisioncollectedorreversalintheperiod:
InRMB
| Nameoftheorganization | Amountrecoveredorreversed | Reasonforreversal | Recoverymethod | Thebasisandrationalityfordeterminingtheprovisionratiooforiginalbaddebtprovision |
Othernote：
5）Dividendreceivablesactuallywrittenoffinthecurrentperiod
InRMB
| Item | Write-offamount |
ImportantDividendreceivablewrite-offstatusthereinto:
InRMB
| NameofOrganization | AmountNature | Write-offamount | Write-offreason | Write-offproceduresforfulfillment | Whetherthepaymentisgeneratedbyarelatedpartytransaction |
Note：
Othernote：
（
）Otheraccountreceivable
1)Bynature
InRMB
| Nature | Endingbookbalance | Openingbookbalance |
| Performancecompensation | 18,154,754.41 | |
| Depositormargin | 9,609.80 | 9,609.80 |
| Paymentforequipment | 11,400.00 | 11,400.00 |
| Currentaccount | 54,058,155.71 | 41,648,565.50 |
| Other | 60,000.00 | 4,250.20 |
| Total | 54,139,165.51 | 59,828,579.91 |
2）Byaccountaging
InRMB
| Aging | Endingbookbalance | Openingbookbalance |
| Withinoneyear(oneyearincluded) | 53,985,866.71 | 59,665,281.11 |
| 1-2years | 61,925.80 | 71,925.80 |
| 2-3years | 79,473.00 | 79,473.00 |
| Over3years | 11,900.00 | 11,900.00 |
| Over5years | 11,900.00 | 11,900.00 |
| Total | 54,139,165.51 | 59,828,579.91 |
3)Accordingtothebaddebtprovisionmethodclassificationdisclosure
InRMB
| Category | Amountinyear-end | BalanceYear-beginning | ||||||||
| BookBalance | Baddebtprovision | Bookvalue | BookBalance | Baddebtprovision | Bookvalue | |||||
| Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
| Including： | ||||||||||
| Accrualofbaddebtprovisionbyportfolio | 54,139,165.51 | 100.00% | 56,279.04 | 0.10% | 54,082,886.47 | 59,828,579.91 | 100.00% | 59,176.42 | 0.10% | 59,769,403.49 |
| Including： | ||||||||||
| Agingportfolio | 213,298.80 | 0.39% | 56,279.04 | 26.39% | 157,019.76 | 195,695.56 | 0.33% | 59,176.42 | 30.24% | 136,519.14 |
| RelatedpartyPortfolio | 53,925,866.71 | 99.61% | 53,925,866.71 | 59,632,884.35 | 99.67% | 59,632,884.35 | ||||
| Total | 54,139,165.51 | 100.00% | 56,279.04 | 0.10% | 54,082,886.47 | 59,828,579.91 | 100.00% | 59,176.42 | 0.10% | 59,769,403.49 |
Baddebtprovisionaccrualonportfolio:Agingportfolio
InRMB
| NameoftheCompany | Endingbalance | ||
| Bookbalance | Baddebtprovision | Accrualratio | |
| Agingportfolio | 213,298.80 | 56,279.04 | 26.39% |
| Total | 213,298.80 | 56,279.04 | |
Explanationonportfoliobasis:
Baddebtprovisionaccrualonportfolio:RelatedpartyPortfolio
InRMB
| NameoftheCompany | Endingbalance | ||
| Bookbalance | Baddebtprovision | Accrualratio | |
| RelatedpartyPortfolio | 53,925,866.71 | ||
| Total | 53,925,866.71 |
Explanationonportfoliobasis:
Provisionforbaddebtsismadeaccordingtothegeneralmodelofexpectedcreditlosses
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceonJanuary1,2025 | 59,176.42 | 59,176.42 | ||
| January1,2025balanceinthecurrentperiod | ||||
| ProvisioninCurrentYear | 2,897.38 | 2,897.38 | ||
| BalanceonJune30,2025 | 56,279.04 | 56,279.04 |
ThebasisforthedivisionofeachstageandtheproportionofbaddebtprovisionChangeofbookbalanceoflossprovisionwithamounthasmajorchangesintheperiod
□Applicable?Notapplicable
4)Baddebtprovisionaccrual,collectedorreversalintheperiodAccrualofbaddebtprovisionintheperiod:
InRMB
| Category | Openingbalance | Currentchanges | Endingbalance | |||
| Accrual | Collectedorreversal | Writeoff | Other | |||
| Provisionforbaddebtsbasedonaportfolioofcreditriskcharacteristics | 59,176.42 | 2,897.38 | 56,279.04 | |||
| Total | 59,176.42 | 2,897.38 | 56,279.04 | |||
Importantamountofbaddebtprovisionswitch-backorcollectionintheperiod:
InRMB
| Nameoftheorganization | Amountrecoveredorreversed | Reasonforreversal | Recoverymethod | Thebasisandrationalityfordeterminingtheprovisionratiooforiginalbaddebtprovision |
5)Otheraccountreceivablesactuallywrite-offduringthereportingperiod
InRMB
| Item | Amountwrittenoff |
Includingmajorotheraccountreceivableswrite-off:
InRMB
| Enterprise | OtherNature | Amountwrittenoff | Causes | Procedure | Amountcausebyrelatedtransactionsornot(Y/N) |
OtherExplanationonaccountreceivablewrite-off:
6)Top5otheraccountreceivablecollectedbyarrearspartyatendingbalance
InRMB
| Enterprise | Nature | Endingbalance | Accountage | Proportionintotalotheraccountreceivablesatperiod-end | Endingbalanceofbadbetprovision |
| ShenzhenXinsenJewelryGoldSupplyChainCo.,Ltd | Currentaccount | 53,808,129.94 | Within1yearr(oneyearincluded) | 99.39% | 0.00 |
| GuangdongShenzhenLuohuCourt | Other | 79,473.00 | 2-3years | 0.15% | 32,575.98 |
| HubeiGuangshuiCourt | Other | 52,816.00 | 1-2years | 0.10% | 10,066.73 |
| FujianHuaxinbaoJewelryCo.,Ltd. | Currentaccount | 50,000.00 | Within1yearr(oneyearincluded) | 0.09% | 0.00 |
| ShenzhenHongkangInstrumentTechnologyCo.,Ltd | Equipment | 11,400.00 | Over5years | 0.02% | 11,400.00 |
| Total | 54,001,818.94 | 99.75% | 54,042.71 |
）ReportedinotherreceivablesduetocentralizedmanagementoffundsOthernote：
3.Long-termequityinvestment
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Investmentforsubsidiary | 147,696,069.73 | 147,696,069.73 | 126,995,379.73 | 126,995,379.73 | ||
| Total | 147,696,069.73 | 147,696,069.73 | 126,995,379.73 | 126,995,379.73 | ||
(1)Investmentforsubsidiary
InRMB
| Theinvestedentity | Openingbalance(Bookvalue) | Openingbalanceoftheimpairmentprovision | Changesintheperiod(+,-) | Endingbalance(Bookvalue) | Endingbalanceofimpairmentprovision | ||
| Additionalinvestment | Other | ||||||
| ShenzhenEmmelleIndustrialCo.,Ltd. | 10,379.73 | 10,379.73 | |||||
| ShenzhenXinsenJewelryGoldCo.,Ltd | 120,500,000.00 | 120,500,000.00 | |||||
| ShenzhenCloudPreferredJewelryTechnologyCo.,Ltd. | 5,250,000.00 | 5,250,000.00 | |||||
| HangzhouHuabaohuiDigitalCultureCo.,ltd. | 1,005,000.00 | 1,005,000.00 | |||||
| TibetJinyayaTradingCo.,Ltd. | 130,000.00 | 130,000.00 | |||||
| FujianHuaxinbaoJewelryCo.,Ltd. | 100,000.00 | 100,000.00 | |||||
| ShenhuaInternationalCo.,Ltd. | 20,700,690.00 | 20,700,690.00 | |||||
| Total | 126,995,379.73 | 20,700,690.00 | 147,696,069.73 | ||||
(2)Investmentforassociatesandjointventure
InRMB
| Fundedenterprise | Openingbalance(Bookvalue) | Openingbalanceoftheimpairmentprovision | Changesintheperiod(+,-) | Endingbalance(Bookvalue) | Endingbalanceofimpairmentprovision | |||||||
| Additionalinvestment | Capitalreduction | Investmentgainsrecognizedunderequity | Othercomprehensiveincomeadjustment | Otherequitychange | Cashdividendorprofitannouncedtoissued | Accrualofimpairmentprovision | Other | |||||
| I.Jointventure |
| II.Associatedenterprise |
Therecoverableamountisdeterminedonthebasisofthenetamountoffairvaluelessdisposalcosts
□Applicable?NotapplicableTherecoverableamountisdeterminedbythepresentvalueoftheprojectedfuturecashflows
□Applicable?NotapplicableThereasonfortheobviousdiscrepancybetweentheforegoinginformationandtheinformationusedintheimpairmenttestofpreviousyearsortheexternalinformationThereasonfortheobviousdiscrepancybetweentheinformationusedintheCompany'simpairmenttestinpreviousyearsandtheactualsituationinthecurrentyear
（3）Othernote
4.Operationrevenueandoperationcost
InRMB
| Item | Currentperiodincurred | Priorperiodincurred | ||
| Revenue | Cost | Revenue | Cost | |
| Mainbusiness | 153,372,154.48 | 140,363,498.34 | 41,648,464.52 | 36,082,094.24 |
| Otherbusiness | 748,889.37 | 560,210.12 | 1,193,561.03 | 1,052,051.60 |
| Total | 154,121,043.85 | 140,923,708.46 | 42,842,025.55 | 37,134,145.84 |
Breakdownofoperatingincomeandoperatingcosts:
InRMB
| Contracttype | 1#Division | 2#Division | Total | |||
| Revenue | Cost | Revenue | Cost | Revenue | Cost | |
| Businesstype | 154,121,043.85 | 140,923,708.46 | 154,121,043.85 | 140,923,708.46 | ||
| Including： | ||||||
| Jewelryandgold | 153,372,154.00 | 140,363,498.34 | 153,372,154.00 | 140,363,498.34 | ||
| Lithiumbatterymaterialforbicyclesandother | 748,889.37 | 560,210.12 | 748,889.37 | 560,210.12 | ||
| Classificationbybusinessarea | 154,121,043.85 | 140,923,708.46 | 154,121,043.85 | 140,923,708.46 | ||
| Including： | ||||||
| Domestic | 154,121,043.85 | 140,923,708.46 | 154,121,043.85 | 140,923,708.46 | ||
| Marketorcustomertype | ||||||
| Including: | ||||||
Contracttype
| Contracttype |
| Including: |
Classificationbytimeof
| goodstransfer |
| Including: |
Classificationbycontractduration
| Classificationbycontractduration |
| Including: |
Classificationbysaleschannel
| Classificationbysaleschannel |
| Including: |
Total
| Total | 154,121,043.85 | 140,923,708.46 | 154,121,043.85 | 140,923,708.46 |
Informationrelatedtoperformanceobligations:
| Item | Thetimetofulfilltheperformanceobligation | Importantpaymentterms | Thenatureofthegoodsthatthecompanypromisestotransfer | Whetheritisthemainresponsibleperson | Theexpectedrefundstocustomersbornebythecompany | Thetypesofqualityassuranceprovidedbythecompanyandrelatedobligations |
OthernoteInformationrelatingtothetransactionpriceassignedtotheremainingperformanceobligation:
Theamountofincomecorrespondingtotheperformanceobligationsthathavebeensignedattheendofthisreportingperiodbuthavenotyetbeenfulfilledorhavenotdonewithfulfillmentis0.00yuan,amongthem,yuanofrevenueisexpectedtoberecognizedinyear,yuanofrevenueisexpectedtoberecognizedinyear,andyuanofrevenueisexpectedtoberecognizedinyear.Significantcontractchangesorsignificanttransactionpriceadjustments
InRMB
| Item | Accountingtreatmentmethod | Theimpactedamountonrevenue |
Othernote：
None
5.Investmentincome
InRMB
| Item | Currentperiodincurred | Priorperiodincurred |
6.OtherXX.SupplementaryInformation
1.Currentnon-recurringgains/losses?Applicable□Notapplicable
InRMB
| Item | Amount | Note |
| Switch-backofprovisionofimpairmentofaccountreceivablewhicharetreatedwithseparatedepreciationtest | 92,482.17 | |
| Othernon-operationrevenueandexpenditureexceptfortheaforementioneditems | 838,867.21 | |
| Less:Impactonincometax | 229,010.09 | |
| Amountofimpactofminorityinterests | 67,309.45 | |
| Total | 635,029.84 | -- |
Detailsofothergains/lossesitemsthatmeetsthedefinitionofnon-recurringgains/losses:
□Applicable?NotapplicableTherearenoothergains/lossesitemsthatmeetthedefinitionofnon-recurringgains/lossesintheCompany.Explaintheitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss
□Applicable?Notapplicable
2.ROEandEPS
| Profitsduringreportperiod | WeightedaverageROE | Earningspershare | |
| BasicEPS(RMB/Share) | DilutedEPS(RMB/Share) | ||
| NetprofitsbelongtocommonstockstockholdersoftheCompany | 5.26% | 0.0269 | 0.0269 |
| NetprofitsbelongtocommonstockstockholdersoftheCompanyafterdeductingnonrecurringgainsandlosses | 5.08% | 0.0260 | 0.0260 |
3.DifferenceoftheaccountingdataunderaccountingrulesinandoutofChina
(1)Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothIAS(InternationalAccountingStandards)andChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable?Notapplicable
(2)Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothforeignaccountingrulesandChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable?Notapplicable
(3)ExplainaccountingdifferenceovertheaccountingrulesinandoutofChina;asforthedifferenceadjustmentfordataauditedbyforeignauditingorgan,notedthenameofsuchforeignorgan
4.Other
TheBoardofDirectorsofShenzhenChinaBicycleCompany(Holdings)Limited
August15,2025