深圳中恒华发股份有限公司 2017 年半年度报告全文
SHENZHEN ZHONGHENG HUAFA CO., LTD.
SEMI-ANNUAL REPORT 2017
August 2017
1
深圳中恒华发股份有限公司 2017 年半年度报告全文
Section I. Important Notice, Contents and Paraphrase
Board of Directors, Supervisory Committee, all directors, supervisors and senior
executives of Shenzhen Zhongheng Huafa Co., Ltd. (hereinafter referred to as
the Company) hereby confirm that there are no any fictitious statements,
misleading statements, or important omissions carried in this report, and shall
take all responsibilities, individual and/or joint, for the reality, accuracy and
completion of the whole contents.
Li Zhongqiu, Principal of the Company, Yang Bin, person in charger of
accounting works and Wu Aijie, person in charge of accounting organ
(accounting principal) hereby confirm that the Financial Report of 2017
Semi-Annual Report is authentic, accurate and complete.
All directors are attended the Board Meeting for report deliberation.
Concerning the forward-looking statements with future planning involved in the
Report, they do not constitute a substantial commitment for investors. Majority
investors are advised to exercise caution of investment risks.
Risks factors are being well-described in the Report, please found more in
relevant content.
The Company has no plan of cash dividends carried out, bonus issued and
capitalizing of common reserves either.
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深圳中恒华发股份有限公司 2017 年半年度报告全文
Contents
Semi-annual Report 2017 ................................................................................................................ 1
Section I Important Notice and Paraphrase .................................................................................... 2
Section II Company Profile and Main Finnaical Indexes .............................................................. 5
Section III Summary of Company Business .................................................................................... 8
Section IV Discussion and Analysis of Operation ........................................................................... 9
Section V Important Events ............................................................................................................ 15
Section VI Changes in shares and particular about shareholders ............................................. 30
Section VII Preferred Stock ............................................................................................................ 34
Section VIII Particulars about Directors, Supervisors and Senior Executives ........................ 35
Section IX Corporate Bonds .......................................................................................................... 36
Section X Financial Report ............................................................................................................. 37
Section XI Documents Available for Reference ......................................................................... 128
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深圳中恒华发股份有限公司 2017 年半年度报告全文
Paraphrase
Items Refers to Contents
Company, Shen Huafa Refers to SHENZHEN ZHONGHENG HUAFA CO., LTD.
Hengfa Technology Refers to Wuhan Hengfa Technology Co., Ltd.
Huafa Property Refers to Shenzhen Zhongheng Huafa Property Co., Ltd
Huafa Lease Refers to Shenzhen Huafa Property Lease Management Co., Ltd
Huafa Trade Refers to Wuhan Zhongheng Huafa Trade Co., Ltd.
Wuhan Zhongheng New Science & Technology Industrial Group Co.,
Wuhan Zhongheng Group Refers to
Ltd.
HK Yutian Refers to Hong Kong Yutian International Investment Co., Ltd.
Hengsheng Photoelectricity Refers to Wuhan Hengsheng Photoelectricity Industry Co., Ltd.
Hengsheng Yutian Refers to Wuhan Hengsheng Yutian Industrial Co., Ltd.
Yutian Henghua Refers to Shenzhen Yutian Henghua Co., Ltd.
Huafa Hengtian Refers to Shenzhen Huafa Hengtian Co., Ltd.
Huafa Hengtai Refers to Shenzhen Huafa Hengtai Co., Ltd.
Shenzhen Vanke Refers to Shenzhen Vanke Real Estate Co., Ltd.
Vanke Guangming Refers to Shenzhen Vanke Guangming Real Estate Development Co., Ltd
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深圳中恒华发股份有限公司 2017 年半年度报告全文
Section II Company Profile and Main Finnaical Indexes
I. Company profile
Short form of the stock Shen Huafa A, Shen Huafa B Stock code 000020, 200020
Short form of the stock after
N/A
changed (if applicable)
Stock exchange for listing Shenzhen Stock Exchange
Name of the Company (in
深圳中恒华发股份有限 Company
Chinese)
Short form of the Company
深华发
(in Chinese)
Foreign name of the Company
SHENZHEN ZHONGHENG HUAFA CO., LTD.
(if applicable)
Abbr. of the foreign name (if
N/A
applicable)
Legal representative Li Zhongqiu
II. Person/Way to contact
Secretary of the Board Rep. of security affairs
Name Yang Bin Niu Yuxiang
33/F, No. 2 Building of Dachong Business 33/F, No. 2 Building of Dachong Business
Contact add.
Center, Nanshan District, Shenzhen Center, Nanshan District, Shenzhen
Tel. 0755-86360220 0755-86360201
Fax. 0755-86360206 0755-86360206
E-mail Huafainvestor@126.com.cn Huafainvestor@126.com.cn
III. Others
1. Way of contact
Whether registrations address, offices address and codes as well as website and email of the Company changed in reporting period or
not
□ Applicable √ Not applicable
Registrations address, offices address and codes as well as website and email of the Company has no change in reporting period,
found more details in Annual Report 2016.
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深圳中恒华发股份有限公司 2017 年半年度报告全文
2. Information disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
□ Applicable √ Not applicable
The newspaper appointed for information disclosure, website for semi-annual report publish appointed by CSRC and preparation
place for semi-annual report have no change in reporting period, found more details in Annual Report 2016
IV. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□Yes √No
Current period Same period last year Changes over last year (+,-)
Operating income (RMB) 439,480,144.17 309,538,525.56 41.98%
Net profit attributable to shareholders of
2,146,472.00 7,272,956.22 -70.49%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting 1,477,201.29 6,182,473.52 -76.11%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
-35,397,366.92 -25,424,349.57 -39.23%
activities(RMB)
Basic earnings per share (RMB/Share) 0.0076 0.0257 -70.43%
Diluted earnings per share (RMB/Share) 0.0076 0.0257 -70.43%
Return on Equity 0.67% 2.31% -1.64%
Changes over period-end of
Period-end Period-end of last year
last year(+,-)
Total assets (RMB) 683,400,353.73 632,475,542.40 8.05%
Net assets attributable to shareholder of
321,845,040.63 319,698,568.63 0.67%
listed company (RMB)
V. Difference of the accounting data under accounting rules in and out of China
1. Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √Not applicable
The Company had no difference of the net profit or net assets disclosed in financial report, under either IAS (International
Accounting Standards) or Chinese GAAP (Generally Accepted Accounting Principles) in the period.
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深圳中恒华发股份有限公司 2017 年半年度报告全文
2. Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √Not applicable
The Company had no difference of the net profit or net assets disclosed in financial report, under either foreign accounting rules or
Chinese GAAP (Generally Accepted Accounting Principles) in the period.
VI. Items and amounts of extraordinary profit (gains)/loss
√Applicable □ Not applicable
Item Amount Note
Gains/losses from the disposal of non-current asset (including the
-33,321.94
write-off that accrued for impairment of assets)
Governmental subsidy reckoned into current gains/losses (not
including the subsidy enjoyed in quota or ration according to
802,269.68
national standards, which are closely relevant to enterprise’s
business)
Other non-operating income and expenditure except for the
123,413.20
aforementioned items
Less: Impact on income tax 223,090.23
Total 669,270.71 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √Not applicable
In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to the lists of
extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to
the Public --- Extraordinary Profit/loss
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深圳中恒华发股份有限公司 2017 年半年度报告全文
Section III Summary of Company Business
I. Main businesses of the company in the reporting period
Whether the company needs to comply with the disclosure requirements of the particular industry
No
After years of development, the Company has gradually formed two main businesses in industrial production and
property management. Among them, the industrial production includes injection molding, foam pieces
(light-weight packaging materials), and liquid crystal display business. Industry business of the Company mainly
refers to the supporting products and service provided for home appliance industry; and property management
business is mainly the lease of its own property.
II. Major changes in main assets
1. Major changes in main assets
Major assets Note of major changes
Equity assets N/A
Fixed assets N/A
Intangible assets N/A
Construction in progress N/A
2. Main overseas assets
□ Applicable √Not applicable
III. Core competitiveness analysis
Whether the company needs to comply with the disclosure requirements of the particular industry
No
All industrial land of the company located in Shenzhen are included in the first-batch plan of 2010 Shenzhen
urban renewal unit planning, in the future, the development and management of its own land resources will
become the company's long-term and stable source of income for its progressive development and the new profits
growth point.
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深圳中恒华发股份有限公司 2017 年半年度报告全文
Section IV Discussion and Analysis of Operation
1. Introduction
In the first half of 2017, the domestic appliance industry grew to some extent but was lack of power, as the
traditional manufacturing industry, the production and assembly of liquid crystal display, injection molding and
foam parts have already entered the mature stage and the demand became saturated. During the reporting period, the
company overcame difficulties, positively responded and protected the substantial growth of operating income, but
the industrial profit margins were greatly compressed. During the reporting period, the company achieved operating
income of RMB 439,480,100, with a year-on-year growth of 41.98%; operating profit of RMB 1,977,900, with a
year-on-year decrease of 75.88%; net profit of RMB 2,146,700, with a year-on-year decrease of 70.49%.
● Injection molding business achieved operating income of RMB 131,993,300 in the first half of the year, with an
increase of 45.01% on a year-on-year basis, the growth was rather fast. The main reasons included the increase in
new high-end products for customers, the rise in raw material prices, the re-stocking of air conditioning industry,
the peak selling season of real estate, and the continuous high temperature weather in this summer and so on.
Under the environment of constant increase in human costs, the injection molding division improved the technical
strength and quality according to the market conditions of home appliance so that the orders increased rapidly;
meanwhile, it strengthened the internal management, introduced the competition mechanism, paid attention to the
staff training, and practically completed the staff logistics and security work, fully mobilized the enthusiasm of staff,
enhanced the quality of staff, and strengthened the sense of belonging of the staff; the company developed the
effective quality prevention and corrective measures, strengthened the fine management, improved the product
quality, and won the trust of customers, and enhanced the competitiveness to gain more product shares with high
gross margins.
●Polystyrene business achieved operating income of RMB 42,092,000 in the first half of the year, with an increase
of 36.59% on a year-on-year basis, the growth was rather fast. With the severe challenges of more intense market
competition in appliance industry, constant rising in production costs, great compression on profit margins, the
polystyrene division took the market demand as guiding, actively cooperated with customers to improve product
mix, constantly explored and innovated, constantly updated devices, paid great attention to eco-environment
protection while improving the output and quality, strengthened the sustainable production and management
philosophy, and formed its own unique competitive advantages. In the future, the company will further improve the
product quality, reduce the raw material loss, decrease the production costs, and ensure its own advantages and
market shares by innovative design and product optimization.
●LCD business achieved operating income of RMB 244,178,800 in the first half of the year, an increase of
48.41% on a year-on-year basis. The first main reason was that the overseas market orders increased in the first
half of this year, the shipments to overseas markets in the first half of the year accounted for more than 20% of the
overall shipments. The second main reason was that the market demand for large-size LCD in domestic internet
bars declined a lot, and many brand customers transformed to the industry customers and some low-cost sizes for
keeping the market shares, which just met the product sizes produced by the factory, resulting in the increase in
orders.
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深圳中恒华发股份有限公司 2017 年半年度报告全文
● Property leasing business achieved operating income of RMB 19,602,000, a decrease of 5.66% over the same
period last year. Most sites of the company's own property Huafa building have been rented, but Huafa Building has
been included in the urban renewal, due to the tenancy term and other factors, the company's overall rental income
declined compared with the same period of last year.
II. Main business analysis
See the “I-Introduction” in “Discussion and Analysis of Operation”
Change of main financial data on a y-o-y basis
In RMB
Current period Same period last year y-o-y changes Reasons
Sales increased in the
Operating revenue 439,480,144.17 309,538,525.56 41.98%
period
The purchasing increased
Operating cost 398,913,925.08 264,288,398.24 50.94%
in the period
Human and
transportation costs
Sales expenses 7,363,051.86 5,283,735.71 39.35%
increased for the growth
of sales
Administrative expenses 24,085,956.74 27,295,883.47 -11.76%
Exchange earnings
Financial expenses 4,914,890.46 2,312,379.13 112.55%
declined over last period
Current income tax
Income tax expenses 723,746.91 2,384,214.46 -69.64% expenses decreased over
same period of last year
Intercourse funds
Net cash flow from
-35,397,366.92 -25,424,349.57 39.23% received from enterprise
operating activities
declined
Net cash flow from
-3,903,702.73 -3,790,585.96 2.98%
investment activities
Net cash flow from Long-term loans are paid
7,520,619.22 -544,260,367.28 101.38%
financing activities in last period
Net increase of cash and Long-term loans are paid
-32,170,554.64 -573,490,540.29 94.39%
cash equivalent in last period
Major changes on profit composition or profit resources in reporting period
□ Applicable √ Not applicable
No major changes on profit composition or profit resources occurred in reporting period
Constitution of main business
In RMB
Operating Operating cost Gross profit ratio Increase/decrease Increase/decrease Increase/decrease
10
深圳中恒华发股份有限公司 2017 年半年度报告全文
revenue of operating of operating cost of gross profit
revenue y-o-y y-o-y ratio y-o-y
According to industries
Display 244,178,831.40 238,599,523.48 2.28% 48.41% 53.60% -3.30%
Plastic injection
131,993,291.50 120,353,683.56 8.82% 45.01% 50.16% -3.13%
hardware
Foam 42,091,942.44 37,498,945.77 10.91% 36.59% 45.78% -5.62%
According to products
Display 244,178,831.40 238,599,523.48 2.28% 48.41% 53.60% -3.30%
Plastic injection
131,993,291.50 120,353,683.56 8.82% 45.01% 50.16% -3.13%
hardware
Foam 42,091,942.44 37,498,945.77 10.91% 36.59% 45.78% -5.62%
According to region
Hong Kong 145,590,841.04 142,179,084.27 2.34% 28.19% 32.92% -3.48%
Central China 272,673,224.30 254,273,068.54 6.75% 57.80% 64.85% -3.98%
III. Analysis of the non-main business
□Applicable √ Not applicable
IV. Assets and liability
1. Major changes of assets composition
In RMB
Period-end Period-end last year
Ratio
Ratio in total Ratio in total Notes of major changes
Amount Amount changes
assets assets
Monetary fund 66,352,098.10 9.71% 65,403,374.30 10.55% -0.84%
Account 223,831,614.4
32.75% 182,542,130.75 29.45% 3.30%
receivable 5
Inventory 52,166,592.59 7.63% 37,519,314.34 6.05% 1.58%
Investment real
53,277,285.84 7.80% 29,404,574.44 4.74% 3.06%
estate
Long-term equity
0.00% 0.00% 0.00%
investment
Fix assets 79,839,263.86 11.68% 108,018,926.67 17.43% -5.75%
Construction in 654,356.00 0.10% 654,356.00 0.11% -0.01%
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深圳中恒华发股份有限公司 2017 年半年度报告全文
process
192,108,516.6
Short-term loans 28.11% 85,012,392.00 13.72% 14.39%
0
Long-term loans 0.00% 50,850,000.00 8.20% -8.20%
2. Assets and liability measured by fair value
□ Applicable √Not applicable
3. Assets right restriction till end of reporting period
Wuhan Zhongheng Group Co., Ltd. and Shenzhen Vanke were applied for arbitration due to the dispute case of “Contract for the
Cooperative Operation of the Old Projects at Huafa Industrial Park, Gongming Street, Guangming New District”. On October 28,
2016, Wuhan Zhongheng Group and the company received the (2016) Yue 03 Cai Bao No. 51 civil ruling paper sent by Shenzhen
Intermediate People's Court of Guangdong Province, which ruled to seal up and freeze the property of RMB 190 million under the
name of the respondents Wuhan Zhongheng Group and the company. See details on the company’s announcement published at
www.cninfo.com.cn on November 1, 2016.
V. Investment analysis
1. Overall situation
□ Applicable √Not applicable
2. The major equity investment obtained in the reporting period
□ Applicable √Not applicable
3. The major non-equity investment doing in the reporting period
□ Applicable √ Not applicable
4. Financial assets investment
(1) Securities investment
□ Applicable √Not applicable
The Company has no securities investment in the Period.
(2) Derivative investment
□ Applicable √Not applicable
The Company has no derivatives investment in the Period.
12
深圳中恒华发股份有限公司 2017 年半年度报告全文
VI. Sales of major assets and equity
1. Sales of major assets
□ Applicable √Not applicable
The Company had no sales of major assets in the reporting period.
2. Sales of major equity
□ Applicable √Not applicable
VII. Analysis of main holding company and stock-jointly companies
√Applicable □ Not applicable
Particular about main subsidiaries and stock-jointly companies net profit over 10%
In RMB
Company Main Register Operating Operating
Type Industry Total assets Net Assets Net profit
name business capital revenue profit
R&D,
production
and sales of
Hengfa the products
Production 181,643,11 516,043,80 213,759,36 419,071,09 2,143,271
Technology Subsidiary as well as 2,239,178.76
sales 1.00 2.24 6.19 0.14 .75
Company import &
export
business
etc.
Leasing and
Huafa Property
managemen 1,000,000.0 3,523,916.5 1,040,734.0
Property Subsidiary managemen -814,969.45 70,209.17 70,209.17
t of own 0 0 4
Company t
property
Leasing and
Huafa Property
managemen 1,000,000.0 1,900,692.2 -5,026,990.
Lease Subsidiary managemen
t of own 0 0 71
Company t
property
Leasing and
Huafa Property
managemen 1,000,000.0
Hengtian Subsidiary managemen 997,307.29 997,307.29 0.00 -776.57 -776.57
t of own 0
Company t
property
Huafa Property Leasing and
1,000,000.0
Hengtai Subsidiary managemen managemen 998,036.07 998,036.07 0.00 -775.94 -775.94
0
Company t t of own
13
深圳中恒华发股份有限公司 2017 年半年度报告全文
property
Particular about subsidiaries obtained or disposed in report period
□Applicable √ Not applicable
Explanation
VIII. Structured vehicle controlled by the Company
□ Applicable √Not applicable
IX. Prediction of business performance from January – September 2017
Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss probably or the
warning of its material change compared with the corresponding period of the last year and explanation on reason
□ Applicable √ Not applicable
X. Risks and countermeasures
1. Operational risks of industrial business: industrial restructuring, fluctuations in raw material prices, decline in
market demand, and frustration of new product promotion.
Countermeasures: continue to open up the market, maintain the existing customers, positively develop new
customers, and continue to improve production efficiency;
2. Financial risks: large demands for funds, substantial increase or decrease in financial costs caused by exchange
rate fluctuations, and bank credit constraints caused by changes in financial costs and so on.
Countermeasures: pay close attention to macroeconomic policy trends, actively expand the financing channels,
establish a virtuous circle mechanism for funds, improve the service efficiency, and use financial instruments to
avoid exchange rate risks.
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深圳中恒华发股份有限公司 2017 年半年度报告全文
Section V. Important Events
I. In the report period, the Company held annual shareholders’ general meeting and
extraordinary shareholders’ general meeting
1. Annual Shareholders’ General Meeting in the report period
Ratio of investor
Session of meeting Type Date Date of disclosure Index of disclosure
participation
http://www.cninfo.co
m.cn/cninfo-new/dis
Annual General closure/szse_main/b
AGM 0.03% 2017-05-16 2017-05-17
Meeting of 2016 ulletin_detail/true/12
03526132?announce
Time=2017-05-17
2. Request for extraordinary general meeting by preferred stockholders whose voting rights restore
□ Applicable √Not applicable
II. Profit distribution plan in the period and capitalizing of common reserves plan
□ Applicable √Not applicable
The Company plans not to distribute cash dividend and bonus for the semi-annual, and no capitalizing of common reserves either.
III. Commitments that the actual controller, shareholders, related party, offeror and committed party as
the Company etc. have fulfilled during the reporting period and have not yet fulfilled by the end of
reporting period
□Applicable √ Not applicable
The Company has no commitments that the actual controller, shareholders, related party, offeror and committed party as the
Company etc. have fulfilled during the reporting period and have not yet fulfilled by the end of reporting period
IV. Appointment and non-reappointment (dismissal) of CPA
Whether the financial report has been audited or not
□Yes √no
Not audited
V. Explanation from Board of Directors and Supervisory Committee for “Qualified Opinion”
that issued by CPA
□ Applicable √Not applicable
15
深圳中恒华发股份有限公司 2017 年半年度报告全文
VI. Explanation from the Board for “Qualified Opinion” of last year’s
□ Applicable √Not applicable
VII. Bankruptcy reorganization
□ Applicable √Not applicable
No bankruptcy reorganization for the Company in reporting period
VIII. Lawsuits
Significant lawsuits and arbitrations
√Applicable □Not applicable
Amount of
Advances in The results and
The basic situation money Execution of the
Predicted litigation effects of Disclosure Disclosure
of litigation involved (in litigation
liabilities (Y/N) (Arbitration litigation date index
(Arbitration) 10 thousand (Arbitration)
) (Arbitration)
Yuan)
In September 2016,
Wuhan Zhongheng
Group Co., Ltd.
and the Company
http://www.
and Shenzhen
cninfo.com.
Vanke were
cn/cninfo-n
applied for
Open a ew/disclosu
arbitration due to
court re/fulltext/b
the dispute case of 46,460 N Without judgment Not applicable 2016-09-14
session on ulletin_detai
“Contract for the
13 May 217 l/true/12036
Cooperative
71874?anno
Operation of the
unceTime=
Old Projects at
2017-07-01
Huafa Industrial
Park, Gongming
Street, Guangming
New District”.
In March 2016, In Court decision as http://www.
Huafa Property suit November Jifang Company cninfo.com.
against the 2016, the has to paid cn/cninfo-n
Shenzhen Jifang Company 27.9023 million ew/disclosu
Investment Co., 1,416.67 N win in the Yuan (including Implementing 2016-11-08 re/szse_mai
Ltd. for site ruling rental, n/bulletin_d
occupation, judged by administrative fee, etail/true/12
without rental, and Shenzhen compensation, 02817664?a
utilities paid for a Arbitration penalty, lawyer’s nnounceTi
16
深圳中恒华发股份有限公司 2017 年半年度报告全文
long-time Commission fee and arbitration me=2016-1
fees) in total for 1-08
the Company
In March 2016, the
Company and
Huafa Science &
Technology suit
against the follow
companies,
including
Shenzhen
Huayongxing
Environmental
Technology Co., http://www.
Ltd., Shenzhen cninfo.com.
Guangyong cn/cninfo-n
Breadboard Co., Open a ew/disclosu
Ltd., Shenzhen court re/szse_mai
Mingyi Electronic 1,964.92 N session on Without judgment Not applicable 2016-09-14 n/bulletin_d
Co., Ltd., 14 February etail/true/12
Shenzhen Ouruilai 2017 02702423?a
Technology Co., nnounceTi
Ltd and Shenzhen me=2016-0
Kangzhengxin 9-14 07:41
Technology Co.,
Ltd., for arrears of
rent. and refuse to
move the site,
forcibly occupied
switch board room
and other power
unit under the
name of the
Company
The Company and http://www.
Huafa Property suit cninfo.com.
against Shenzhen cn/cninfo-n
Jifang investment ew/disclosu
Co., Ltd. and re/szse_mai
73.38 N 2017-2-13 Without judgment Not applicable 2016-09-14
Shenzhen n/bulletin_d
Jianianhua Foreign etail/true/12
Trade Clothing 02702423?a
City Co., Ltd. for nnounceTi
refusing to paid the me=2016-0
17
深圳中恒华发股份有限公司 2017 年半年度报告全文
rents and 9-14 07:41
administrative fee
without justified
reasons
n March 2016, the
Company and
http://www.
Huafa Property suit
cninfo.com.
against Shenzhen
cn/cninfo-n
Huayongxing
Open a ew/disclosu
Environmental
court Huayongxing and re/szse_mai
Technology Co.,
947.26 N session on Yidaxin prosecute Not applicable 2016-09-14 n/bulletin_d
Ltd., and Shenzhen
20 March an appeal etail/true/12
Yidaxin
2017 02702423?a
Technology Co.,
nnounceTi
Ltd. for contract
me=2016-0
violation and
9-14 07:41
refuse to move the
site
Court decision as
Dai Qiangbo has
to paid the rental
and utilities of
327300 Yuan to
Huafa Property;
In December 2015,
The paid the late
the Company and
Company rental, and
Huafa Property suit
win in the surcharge for
against Dai
ruling overdue utilities
Qiangbo for arrears
judged by payment, which is
of rent and
People’s counted since 6
occupied the leased
68 N Court of November 2015, Implementing
premises, and
Futian based on 327300
refuse to move out;
District, Yuan, to the
Dai Zhijun, Xie
Shenzhen payment actual
Lihua and Dai
Municipal paid in full by 50
Tianyi bear joint
on 13 Yuan per 10000
liability for debts
Feb.2017 Yuan as charge
of Dai Qiangbo
everyday; paid
867800 Yuan for
occupation
charge; and court
acceptance fee
12600 Yuan.
Other lawsuits
18
深圳中恒华发股份有限公司 2017 年半年度报告全文
□Applicable √ Not applicable
IX. Penalty and rectification
√Applicable □ Not applicable
Type of
Conclusion (if Date of Index of
Name Type Reason investigation and
applicable) disclosure disclosure
punishment
I. Fail to consider
and disclose the
related
transactions with
the controlling
http://www.cninf
shareholder’s
o.com.cn/cninfo-
subsidiaries by
new/disclosure/fu
rule. II. Fail to Denounced on
Shen Huafa Other Other 2017-01-06 lltext/bulletin_det
disclose the funds Shen Huafa
ail/true/12029948
transactions by
56?announceTim
rule. III. Fail to
e=2017-01-06
consider and
disclose the
excessive related
transactions by
rule.
I. Fail to consider
and disclose the
related
transactions with
the controlling
http://www.cninf
shareholder’s
o.com.cn/cninfo-
subsidiaries by
new/disclosure/fu
rule. II. Fail to
Li Zhongqiu Actual controller Other Denounced 2017-01-06 lltext/bulletin_det
disclose the funds
ail/true/12029948
transactions by
56?announceTim
rule. III. Fail to
e=2017-01-06
consider and
disclose the
excessive related
transactions by
rule.
I. Fail to consider http://www.cninf
Circulate a notice
Chen Zhigang Director and disclose the Other 2017-01-06 o.com.cn/cninfo-
of criticism
related new/disclosure/fu
19
深圳中恒华发股份有限公司 2017 年半年度报告全文
transactions with lltext/bulletin_det
the controlling ail/true/12029948
shareholder’s 56?announceTim
subsidiaries by e=2017-01-06
rule. II. Fail to
disclose the funds
transactions by
rule. III. Fail to
consider and
disclose the
excessive related
transactions by
rule.
I. Fail to consider
and disclose the
related
transactions with
the controlling
http://www.cninf
shareholder’s
o.com.cn/cninfo-
subsidiaries by
new/disclosure/fu
rule. II. Fail to Circulate a notice
Tang Ganyu Senior executive Other 2017-01-06 lltext/bulletin_det
disclose the funds of criticism
ail/true/12029948
transactions by
56?announceTim
rule. III. Fail to
e=2017-01-06
consider and
disclose the
excessive related
transactions by
rule.
I. Fail to consider
and disclose the
related
transactions with
the controlling http://www.cninf
shareholder’s o.com.cn/cninfo-
subsidiaries by new/disclosure/fu
Circulate a notice
Weng Xiaojue Senior executive rule. II. Fail to Other 2017-01-06 lltext/bulletin_det
of criticism
disclose the funds ail/true/12029948
transactions by 56?announceTim
rule. III. Fail to e=2017-01-06
consider and
disclose the
excessive related
transactions by
20
深圳中恒华发股份有限公司 2017 年半年度报告全文
rule.
I. Fail to consider
and disclose the
related
transactions with
the controlling
http://www.cninf
shareholder’s
o.com.cn/cninfo-
subsidiaries by
new/disclosure/fu
rule. II. Fail to Circulate a notice
Cao Li Senior executive Other 2017-01-06 lltext/bulletin_det
disclose the funds of criticism
ail/true/12029948
transactions by
56?announceTim
rule. III. Fail to
e=2017-01-06
consider and
disclose the
excessive related
transactions by
rule.
X. Integrity of the company and its controlling shareholders and actual controllers
□ Applicable √Not applicable
XI. Implementation of the company’s stock incentive plan, employee stock ownership plan or
other employee incentives
□ Applicable √Not applicable
The Company had no stock incentive plan, employee stock ownership plan or other employee incentive in the reporting period.
XII. Major related transaction
1. Related transaction with routine operation concerned
√Applicable □ Not applicable
Whether
Trading
Related over the
Content transacti Proporti limit Clearing Availabl Index
Type of approve Date of
of Pricing Related on on in approve form for e similar of
Related Relation related
related principl transacti amount similar d related disclosu
party ship transacti
transacti e on price (in 10 transacti d (in 10 transacti market disclos
on limited re
on thousan ons thousan on price ure
d Yuan) or not
d Yuan)
(Y/N)
Sharing http://
Purchasi Synchro
the same Telegrap www.c
HK Purchas ng LCD nized 10,807.5 10,807.5 2017-04
controlli 45.29% 27,748 N hic -- ninfo.c
Yutian e monitor with the 7 7 -25
ng transfer om.cn/
s market
sharehol finalpa
21
深圳中恒华发股份有限公司 2017 年半年度报告全文
der ge/201
7-04-2
5/1203
37458
8.PDF
The
average
market
price
refers to
the price
of same
specific
ations
which is
searched
from
Confirm through
ed with the
1% of world
http://
current famous
www.c
market professi
Sharing ninfo.c
average onal
Hengshe the same Purchasi om.cn/
price in Telegrap market
ng controlli Purchas ng LCD 11,446.0 2017-04 finalpa
principl 5,228.69 5,228.69 21.91% No hic survey
Photoele ng e monitor 5 -25 ge/201
e, and transfer compan
ctricity sharehol s 7-04-2
refer to y
der 5/1203
both website
37458
their http://w
8.PDF
bargaini ww.wits
ng view.co
power m
recogniz
ed
authorit
y in the
industry
and
LCD
professi
onal
market
survey
compan
22
深圳中恒华发股份有限公司 2017 年半年度报告全文
y
website
http://w
ww.wits
view.co
m
http://
Accordi
www.c
ng to the
Sharing ninfo.c
order
Hengshe the same Purchasi om.cn/
price, Telegrap
ng controlli Purchas ng LCD 2017-04 finalpa
deducte 817.59 817.59 3.43% 7,283.85 No hic --
Photoele ng e monitor -25 ge/201
d 1 Yuan transfer
ctricity sharehol s 7-04-2
each for
der 5/1203
operatio
37458
n charge
8.PDF
http://
www.c
Accordi
Sharing Sales ninfo.c
ng to the
the same LCD om.cn/
custome Telegrap
HK controlli overall 40,650.8 2017-04 finalpa
Sales r sales 9,954.30 9,954.3 40.76% No hic --
Yutian ng monitor 2 -25 ge/201
order transfer
sharehol machine 7-04-2
price
der set 5/1203
sure
37458
8.PDF
26,808.1 87,128.7
Total -- -- -- -- -- -- -- --
5 2
Detail of sales return with major
N/A
amount involved
In the reporting, Hengfa Technology purchased LCD from HK Yutian with $ 15.7128 million
approximately, 39.28% of the annual amount predicted at the beginning of the year;
Report the actual implementation of
purchased LCD from Hengsheng Photoelectricity with $7.7183 million approximately,
the daily related transactions which
46.78% of the annual amount predicted at the beginning of the year; purchasing LCD from
were projected about their total
Hengsheng Photoelectricity with about $1.2069 million, 11.49% of the annual amount
amount by types during the reporting
predicted at the beginning of the year; sold LCD whole machine to HK Yutian with
period(if applicable)
$ 14.4845 million approximately, 25.87% of the annual amount predicted at the beginning of
the year.
Reasons for major differences
between trading price and market N/A
reference price (if applicable)
2. Related transactions by assets acquisition and sold
□Applicable √ Not applicable
23
深圳中恒华发股份有限公司 2017 年半年度报告全文
No above mentioned transactions occurred
3. Main related transactions of mutual investment outside
□ Applicable √Not applicable
No main related transactions of mutual investment outside for the Company in reporting period.
4. Contact of related credit and debt
□ Applicable √Not applicable
No contact of related credit and debt in the period
5. Other related transactions
□ Applicable √Not applicable
The company had no other significant related transactions in reporting period.
XIII. Non-operational fund occupation from controlling shareholders and its related party
□ Applicable √Not applicable
No non-operational fund occupation from controlling shareholders and its related party in period.
XIV. Significant contract and implementations
1. Trusteeship, contract and leasing
(1) Trusteeship
□ Applicable √Not applicable
No trusteeship for the Company in reporting period
(2) Contract
□ Applicable √Not applicable
No contract for the Company in reporting period
(3) Leasing
□ Applicable √Not applicable
No leasing for the Company in reporting period
2. Major guarantees
√Applicable □ Not applicable
(1) Guarantees
In 10 thousand Yuan
Particulars about the external guarantee of the Company (Barring the guarantee for subsidiaries)
Related Guarante
Name of the Actual date of
Announce Guarantee Actual Guarantee Guarantee Implemen e for
Company happening (Date
ment limit guarantee limit type term ted (Y/N) related
guaranteed of signing
disclosure party
24
深圳中恒华发股份有限公司 2017 年半年度报告全文
date agreement) (Y/N)
N/A
Guarantee of the Company and the subsidiaries
Related Guarante
Actual date of
Name of the Announce e for
Guarantee happening (Date Actual Guarantee Guarantee Implemen
Company ment related
limit of signing guarantee limit type term ted (Y/N)
guaranteed disclosure party
agreement)
date (Y/N)
Wuhan Hengfa
Joint liability
Technology Co., 2017-04-25 30,000 5,560.85 1 year N N
guarantee
Ltd.
Total amount of actual
Total amount of approving
occurred guarantee for
guarantee for subsidiaries in 30,000 8,267.9
subsidiaries in report period
report period (B1)
(B2)
Total balance of actual
Total amount of approved
guarantee for subsidiaries at
guarantee for subsidiaries at the 30,000 5,560.85
the end of reporting period
end of reporting period (B3)
(B4)
Guarantee of the subsidiaries for the subsidiaries
Related
Actual date of Complete Guarante
Name of the Announce
Guarantee happening (Date Actual Guarantee Guarantee implemen e for
Company ment
limit of signing guarantee limit type term tation or related
guaranteed disclosure
agreement) not party
date
Total amount of guarantee of the Company( total of three abovementioned guarantee)
Total amount of approving Total amount of actual
guarantee in report period 30,000 occurred guarantee in report 8,267.9
(A1+B1+C1) period (A2+B2+C3)
Total amount of approved Total balance of actual
guarantee at the end of report 30,000 guarantee at the end of report 5,560.85
period (A3+B3+C2) period (A4+B4+C4)
The proportion of the total amount of actually guarantee in the
17.28%
net assets of the Company(that is A4+ B4+C4)
Including:
Amount of guarantee for shareholders, actual controller and its
0
related parties(D)
The debts guarantee amount provided for the guaranteed
parties whose assets-liability ratio exceed 70% directly or 0
indirectly(E)
Proportion of total amount of guarantee in net assets of the 0
25
深圳中恒华发股份有限公司 2017 年半年度报告全文
Company exceed 50%(F)
Total amount of the aforesaid three guarantees(D+E+F) 0
Explanations on possibly bearing joint and several liquidating
N/A
responsibilities for undue guarantees (if applicable)
Explanations on external guarantee against regulated
N/A
procedures (if applicable)
Explanation on compound guarantee
(2) Guarantee outside against the regulation
□Applicable √ Not applicable
No guarantee outside against the regulation in Period.
3. Other material contracts
□ Applicable √Not applicable
No other material contracts for the Company in reporting period.
XV. Social responsibility
1. Execution of social responsibility of targeted poverty alleviation
(1) Summary of targeted poverty alleviation
(2) Targeted poverty alleviation for first half Year
(3) Follow-up targeted poverty alleviation scheme
2. Material environmental protection
The listed Company and its subsidiary whether belongs to the key sewage units released from environmental protection department
No
XVI Explanation on other significant events
√Applicable □ Not applicable
(I) The Company signed Asset Exchange Contract with Wuhan Zhongheng Group on 29 April 2009 (details were referred to in the
announcement dated 30 April 2009), and pursuant to the contract, since part of the assets of the Company (namely two parcel of
industrial lands located at Huafa road, Gongming town, Guangming new district, Shenzhen (the property certificate No. were SFDZ
No.7226760 and SFDZ No.7226763, No. of parcels were A627-005 andA627-007, and the aggregate area was 48,200 sq.m) were the
lands listed in the first batch of plan for 2010 Shenzhen urbanization unit planning preparation plan. For promotion of such
urbanization project and joint cooperation, the Company has not completed the transfer procedures in respect of the aforesaid land.
26
深圳中恒华发股份有限公司 2017 年半年度报告全文
The Company convoked the first extraordinary meeting of the Board in 2015 on February 16, 2015 and the first extraordinary general
meeting of the Board in 2015 on March 4, 2015, which considered and approved the “Motion on promoting and implementing the
urban renewal project for the renewal units of Huafa area at Gongming street, Guangming new district, Shenzhen”, specified that the
Company and Wuhan Zhongheng Group shall obtain the corresponding compensatory consideration for removal from the
respectively owned project plots and the respectively contributed and constructed above-ground buildings before the land
development, it is estimated that the compensatory consideration obtained by the Company accounts for 50.5% of the total
consideration and Wuhan Zhongheng Group accounts for 49.5% by calculation.
The sixth extraordinary meeting of the board of directors in 2015 and the third extraordinary general meeting held on September 11,
2015 have considered and adopted the “Proposal on the project promotion and implementation of urban renewal and the progress of
related transactions of ‘the updated units at Huafa Area, Gong Ming Street, Guangming New District, Shenzhen’”, the company has
signed the “Agreement on the cooperation of urban renewal project of the updated units at Huafa Area, Gong Ming Street,
Guangming New District, Shenzhen”, “Contract for the cooperative venture of reconstruction project for Huafa Industrial Park, Gong
Ming Street, Guangming New District” and “Agreement on housing acquisition and removal compensation and resettlement” with
Wuhan Zhongheng New Technology Industry Group Co., Ltd. (hereinafter referred to as “Wuhan Zhongheng Group”), Shenzhen
Vanke Real Estate Co., Ltd. (hereinafter referred to as “Shenzhen Vanke”), and Shenzhen Vanke Guangming Real Estate
Development Co., Ltd. (hereinafter referred to as “Vanke Guangming”).
On 12 September 2016, the Company received a “Notice of Arbitration No.: SHEN DP20160334” from SCIA, Shenzhen Vanke
applied for arbitration in respect of “Agreement on the cooperation of urban renewal project of the updated units at Huafa Area,
Gong Ming Street, Guangming New District, Shenzhen” against the Company and Wuhan Zhongheng Group. The arbitra court hold
hearings on 12 November 2016 and 13 May 2017. The judgement will pospone to 16 August 2017. Progress of the case found more
in the Notices released on juchao website (www.cninfo.com.cn) dated 14 Sept. 2016, 1 Nov. 2016, 16 Nov. 2016, on 18 Feb. 2017,
24 March 2017, 25 April 2017 and on 1 July 2017 respectively.
(II) Our controlling shareholder Wuhan Zhongheng Group holds 116,489,894 shares of the Company, accounting for 41.14% of total
share capital. As for involving the arbitration case of “Agreement on the cooperation of urban renewal project of the updated units at
Huafa Area, Gong Ming Street, Guangming New District, Shenzhen”, the above shares were judicially sealed on 27 September 2016
for creditor’s application for property preservation. Assets frozen from 27 September 2016 to 26 September 2018. Details are set out
in the announcement published at Juchao information website (www.cninfo.com.cn) on 27 October 2017.
(III) On 31 December 2015, the 88,750,047 shares held by Wuhan Zhongheng Group, are pledge to China Merchants Securities
Assets Co., Ltd. with due date of 31 December 2016. Wuhan Zhongheng Group deferred the repurchase business day to 31
December 2017. And on 1 Feb. 2016, Wuhan Zhongheng Group pladge the 27,349,953 shares held to China Merchants Securities
Assets Co., Ltd. with due date of 31 December 2016. and also deferring the repurchase business, same as the pledge release. Ended
as the period-end, the pledge did not removed. Found more in notice released on juchao website (www.cninfo.com.cn) dated 5 July
2017
(IV) The Company received the notice about registering and investigating from China Securities Regulatory Commission on January
18, 2016, who decided to register and investigate the company on suspicion of illegal information disclosure. On September 18, 2016,
the Company received the “Prior Notice of Administrative Penalty” ( [2016] No.6) from Shenzhen Regulatory Bureau of China
Securities Regulatory Commission. On December 22, 2016, the Company received the “Written Decision of Administrative Penalty”
([2016] No. 7) from Shenzhen Regulatory Bureau of China Securities Regulatory Commission. See details on the “Notice on
Receiving Written Decision of Administrative Penalty from CSRC” the company published at www.cninfo.com.cn on December 23,
2016. On January 5, 2017, the Company received the “Notice on Giving Public Censure and Punishment to Shenzhen Zhongheng
Huafa Co., Ltd. and the Relevant Parties” from the Shenzhen Stock Exchange, see details on the notice published at
27
深圳中恒华发股份有限公司 2017 年半年度报告全文
www.cninfo.com.cn on January 6, 2017.
(V) On March 21, 2014, Huafa Property and Shenzhen Jifang Investment Co., Ltd. (hereinafter referred to as "Jifang Investment")
signed the "Shenzhen Housing Leasing Contract" and the "Supplemental Agreement on Leasing Contract", which were canceled on
February 5, 2016. As Jifang Investment occupied the site, and defaulted rent, management fee and water and electricity bills in the
long term, in order to safeguard the legitimate rights and interests, Huafa Property submitted a request for arbitration to Shenzhen
Arbitration Commission on March 8, 2016, and received the (2016) SZCZ No. 346 ruling paper from Shenzhen Arbitration
Commission in November 2016 which ruled Huafa Property won the lawsuit. See details on the notice published at
www.cninfo.com.cn by the Company on November 8, 2016.
(vi) Mr. Li Yongping, the director and vice-president of the company, has applied for resigning the director, vice-president and the
committee member of the special committee under the board of directors of the company due to the mandatory retirement age (60
years old), recommended by the company’s second largest shareholder, SEG (Hong Kong) Co., Ltd., the company’s first
extraordinary general meeting of shareholders in 2017 considered and approved Mr. Zhang Guangliu to be the director of the
company, and elected Mr. Zhang Guangliu as the vice-president of the company’s 9th Board of Directors by the 3rd extraordinary
meeting of the board of directors of the company in 2017, see details on the relevant announcement the company issued at
www.cninfo.com.cn on July 19, 2017.
(vii) The company’s planning for major assets restructuring
The company was planning for major asset reorganization which involved the sale of the stock right of the wholly-owned subsidiary -
Wuhan Hengfa Technology Co., Ltd. and the small land and plant located at Wuhan plant under the name of the Company, due to the
uncertainties in relevant matters, the company's stock was suspended since the opening on May 31, 2017 in order to maintain the
investor interests and avoid significant impact on the company’s share price. On June 22, 2017, the 4th meeting of the 9th session of the
Board of Directors of the Company considered and approved the Proposal on the Consideration of Preplanning on Sale of Major Assets
and the Summary and other proposals related to this transaction. On July 3, 2017, the company received the “Reorganization Inquiry
Letter” (Non-permitted Reorganization Inquiry Letter No. [2017] 13, hereinafter referred to as “Inquiry Letter”) issued by the
Shenzhen Stock Exchange, requiring the company to submit the written document before July 6, 2017. The company immediately
organized relevant parties and intermediaries to implement and reply the questions involved in the Inquiry Letter term by term. As the
relevant data and matters involved in the Inquiry Letter still needed further verification and improvement and also needed the
intermediaries to issue the verification opinions, the company applied to the Shenzhen Stock Exchange for postponing the reply to the
Inquiry Letter in order to sufficiently complete the reply and protect the legitimate rights and interests of all shareholders, after the
questions concerning the Inquiry Letter being replied and approved by the Shenzhen Stock Exchange, the company would promptly
announce and apply for resumption of stock in accordance with the relevant provisions
(viii) Changes in the ownership structure of controlling shareholders
Li Zhongqiu, the original shareholder of the controlling shareholder - Wuhan Zhongheng Group, transferred part of shares he held in
Wuhan Zhongheng Group to Li Li, and Wuhan Henghui Investment and Consulting Co., Ltd. transferred all shares it held in Wuhan
Zhongheng Group to Li Li, after the transfer, Li Zhongqiu held 51% equity stake of Wuhan Zhongheng Group, and Li Li held 49%
equity stake of Wuhan Zhongheng Group, in the above natural person shareholders, Li Zhongqiu and Li Li have parent-child
relationship and belong to concerted action person.
XVII. Significant event of subsidiary of the Company
□ Applicable √Not applicable
28
深圳中恒华发股份有限公司 2017 年半年度报告全文
Section VI. Changes in Shares and Particulars about Shareholders
I. Changes in Share Capital
1. Changes in Share Capital
In Share
Before the Change Increase/Decrease in the Change (+, -) After the Change
Capitalizat
New
Bonus ion of Proportio
Amount Proportion shares Others Subtotal Amount
shares public n
issued
reserve
I. Restricted shares 0 0.00% 0 0 0 0 0 0 0.00%
283,161,2 283,161,2
II. Unrestricted shares 100.00% 0 0 0 0 0 100.00%
27 27
181,165,3 181,165,3
1. RMB Ordinary shares 63.98% 0 0 0 0 0 63.98%
91 91
2. Domestically listed 101,995,8 101,995,8
36.02% 0 0 0 0 0 36.02%
foreign shares 36 36
283,161,2 283,161,2
III. Total shares 100.00% 0 0 0 0 0 100.00%
27 27
Reasons for share changed
□Applicable √Not applicable
Approval of share changed
□ Applicable √Not applicable
Ownership transfer of share changed
□ Applicable √Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common
shareholders of Company in latest year and period
□ Applicable √Not applicable
Other information necessary to disclose or need to disclosed under requirement from security regulators
□ Applicable √Not applicable
2. Changes of restricted shares
□ Applicable √Not applicable
II. Securities issuance and listing
□ Applicable √Not applicable
III. Amount of shareholders of the Company and particulars about shares holding
In Share
Total common stock Total preference shareholders
23,044 0
shareholders in reporting with voting rights recovered at
29
深圳中恒华发股份有限公司 2017 年半年度报告全文
period-end end of reporting period (if
applicable) (found in note8)
Particulars about common shares held above 5% by shareholders or top ten common shareholders
Total Number of share pledged/frozen
Amount
common
of Amount of
sharehold Changes in
Proportion restricted un-restricte
Full name of Nature of
of shares ers at report
Shareholders shareholder common d common State of share
held Amount
the end of period
shares shares held
report
held
period
Wuhan Domestic Pledged 116,489,894
116,489,8 116,489,89
Zhongheng non-state-owned 41.14% 0 0
94 4 Frozen 116,489,894
Group legal person
SEG (HONG Pledged 0
Overseas legal 16,569,56
KONG) CO., 5.85% 0 0 16,569,560
person 0 Frozen 0
LTD.
GOOD HOPE Pledged 0
CORNER Overseas legal 12,700,00
4.49% 12,700,000
INVESTMENT person 0 Frozen 0
S LTD
Changjiang Pledged 0
Securities
Overseas legal
Brokerage 1.89% 5,355,249 5,355,249
person Frozen 0
(Hong Kong)
Co., Ltd.
China
Construction
Bank
Corporation –
Other 0.79% 2,233,878 2,233,878
Internet
connection
media flexible
mixed fund
Domestic nature
Xu Dogdong 0.60% 1,690,307 1,690,307
person
China
Construction
Bank
Other 0.57% 1,611,254 1,611,254
Corporation
–Financing
leading growth
30
深圳中恒华发股份有限公司 2017 年半年度报告全文
mix fund
Domestic nature
Zhou Hongbing 0.43% 1,221,800 1,221,800
person
Bank of
Communication
s – Financing
Other 0.41% 1,150,439 1,150,439
Industrial
Prosperity
Security Fund
Domestic nature
Zhong Jiachao 0.38% 1,068,500 1,068,500
person
Strategy investors or general
corporation comes top 10
N/A
shareholders due to rights issue (if
applicable) (see note 3)
Among the top ten shareholders, Wuhan Zhongheng Group neither bears associated
relationship with other shareholders, nor belongs to the consistent actor that are prescribed in
Explanation on associated Measures for the Administration of Disclosure of Shareholder Equity Changes of Listed
relationship among the aforesaid Companies. The Company neither knew whether there exists associated relationship among
shareholders the other tradable shareholders, nor they belong to consistent actors that are prescribed in
Measures for the Administration of Disclosure of Shareholder Equity Changes of Listed
Companies.
Particular about top ten shareholders with un-restrict common shares held
Amount of un-restrict common shares held at Type of shares
Shareholders’ name
Period-end Type Amount
RMB common
Wuhan Zhongheng Group 116,489,894 116,489,894
share
Domestically
SEG (HONG KONG) CO., LTD. 16,569,560 listed foreign 16,569,560
shares
Domestically
GOOD HOPE CORNER
12,700,000 listed foreign 12,700,000
INVESTMENTS LTD
shares
Domestically
Changjiang Securities Brokerage
5,355,249 listed foreign 5,355,249
(Hong Kong) Co., Ltd.
shares
China Construction Bank
RMB common
Corporation – Internet connection 2,233,878 2,233,878
share
media flexible mixed fund
Xu Dongdong 1,690,307 RMB common 1,690,307
31
深圳中恒华发股份有限公司 2017 年半年度报告全文
share
China Construction Bank
RMB common
Corporation –Financing leading 1,611,254 1,611,254
share
growth mix fund
RMB common
Zhou Hongbing 1,221,800 1,221,800
share
Bank of Communications –
RMB common
Financing Industrial Prosperity 1,150,439 1,150,439
share
Security Fund
RMB common
Zhong Jiachao 1,068,500 1,068,500
share
Among the top ten unrestricted shareholders, the Company neither knew whether there exists
Expiation on associated relationship
associated relationship among the other tradable shareholders, nor they belong to consistent
or consistent actors within the top
actors that are prescribed in Measures for the Administration of Disclosure of Shareholder
10 un-restrict common shareholders
Equity Changes of Listed Companies. Among the top ten shareholders, Wuhan Zhongheng
and between top 10 un-restrict
Group neither bears associated relationship with other shareholders, nor belongs to the
common shareholders and top 10
consistent actor that are prescribed in Measures for the Administration of Disclosure of
shareholders
Shareholder Equity Changes of Listed Companies.
Explanation on top 10 common
shareholders involving margin N/A
business (if applicable) (see note 4)
Whether top ten common stock shareholders or top ten common stock shareholders with un-restrict shares held have a buy-back
agreement dealing in reporting period
□ Yes √ No
The top ten common stock shareholders or top ten common stock shareholders with un-restrict shares held of the Company have no
buy-back agreement dealing in reporting period.
IV. Change of controlling shareholder or actual controller
Changes of controlling shareholders in reporting period
□ Applicable √Not applicable
The Company had no changes of controlling shareholders in reporting period
Changes of actual controller in reporting period
□ Applicable √Not applicable
No changes of actual controllers for the Company in reporting period.
32
深圳中恒华发股份有限公司 2017 年半年度报告全文
Section VII. Preferred Stock
□ Applicable √Not applicable
The Company had no preferred stock in the Period.
33
深圳中恒华发股份有限公司 2017 年半年度报告全文
Section VIII. Particulars about Directors, Supervisors and Senior
Executives
I. Changes of shares held by directors, supervisors and senior executives
□ Applicable √ Not applicable
Found more in annual report 2016 for the changes of shares held by directors, supervisors and senior executives
II. Changes of directors, supervisors and senior executives
√ Applicable □ Not applicable
Name Title Type Date Reasons
Director, deputy
Li Yongping Leave the office 2017-07-18 Reaches the mandatory age for retirement
president
Director, deputy
Zhang Guangliu Election 2017-07-18 Election
president
34
深圳中恒华发股份有限公司 2017 年半年度报告全文
Section IX Corporate Bond
Whether the Company has a corporation bonds that issuance publicly and listed on stock exchange and without
due on the date when semi-annual report approved for released or fail to cash in full on due
No
35
深圳中恒华发股份有限公司 2017 年半年度报告全文
Section X. Financial Report
I. Audit report
Whether the semi-annual report was audited or not
□ Yes √ No
The financial report of this semi-annual report was unaudited
II．Financial statement
Currency used in note of financial statement is RMB (Yuan)
1. Consolidated Balance Sheet
Prepared by SHENZHEN ZHONGHENG HUAFA CO., LTD
2017-06-30
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 66,352,098.10 93,332,709.81
Settlement provisions
Capital lent
Financial assets measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes receivable 38,299,308.80 52,663,100.89
Accounts receivable 223,831,614.45 139,808,058.20
Accounts paid in advance 5,571,250.65 13,075,721.93
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Interest receivable
Dividend receivable
Other receivables 17,763,398.92 3,934,376.89
Purchase restituted finance asset
Inventories 52,166,592.59 46,902,384.80
Divided into assets held for sale
36
深圳中恒华发股份有限公司 2017 年半年度报告全文
Non-current asset due within one
1,741.47 12,191.49
year
Other current assets
Total current assets 403,986,004.98 349,728,544.01
Non-current assets:
Loans and payments on behalf
Finance asset available for sales
Held-to-maturity investment
Long-term account receivable
Long-term equity investment
Investment real estate 53,277,285.84 54,145,225.02
Fix assets 79,839,263.86 81,544,707.02
Construction in progress 654,356.00 654,356.00
Engineering material
Disposal of fixed asset 92,857,471.69 92,857,471.69
Productive biological asset
Oil and gas asset
Intangible assets 44,167,184.84 44,878,095.77
Expense on Research and
Development
Goodwill
Long-term expenses to be
166,666.57 191,666.59
apportioned
Deferred income tax asset 8,452,119.95 8,475,476.30
Other non-current asset
Total non-current asset 279,414,348.75 282,746,998.39
Total assets 683,400,353.73 632,475,542.40
Current liabilities:
Short-term loans 192,108,516.60 181,210,467.81
Loan from central bank
Absorbing deposit and interbank
deposit
Capital borrowed
Financial liability measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes payable 8,373,065.43 16,714,584.01
37
深圳中恒华发股份有限公司 2017 年半年度报告全文
Accounts payable 116,266,306.30 73,714,424.77
Accounts received in advance 1,678,293.04 48,846.60
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 3,775,280.25 4,542,531.22
Taxes payable 15,534,826.76 16,768,030.70
Interest payable 185,285.99 123,641.69
Dividend payable
Other accounts payable 21,029,326.92 17,050,035.16
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Divided into liability held for sale
Non-current liabilities due within 1
year
Other current liabilities
Total current liabilities 358,950,901.29 310,172,561.96
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital
securities
Long-term account payable
Long-term wages payable
Special accounts payable
Projected liabilities 2,604,411.81 2,604,411.81
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 2,604,411.81 2,604,411.81
Total liabilities 361,555,313.10 312,776,973.77
Owner’s equity:
Share capital 283,161,227.00 283,161,227.00
38
深圳中恒华发股份有限公司 2017 年半年度报告全文
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 146,587,271.50 146,587,271.50
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus public reserve 77,391,593.25 77,391,593.25
Provision of general risk
Retained profit -185,295,051.12 -187,441,523.12
Total owner’s equity attributable to
321,845,040.63 319,698,568.63
parent company
Minority interests
Total owner’s equity 321,845,040.63 319,698,568.63
Total liabilities and owner’s equity 683,400,353.73 632,475,542.40
Legal representative: Li Zhongqiu Person in charge of accounting works: Yang Bin
Person in charge of accounting institution: Wu Aijie
2. Balance Sheet of Parent Company
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 12,014,665.36 10,375,152.87
Financial assets measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes receivable
Accounts receivable
Account paid in advance 2,500,000.00 2,500,000.00
Interest receivable
Dividends receivable
Other receivables 112,395,792.64 114,067,051.57
Inventories 14,806.50 14,806.50
39
深圳中恒华发股份有限公司 2017 年半年度报告全文
Divided into assets held for sale
Non-current assets maturing within
one year
Other current assets
Total current assets 126,925,264.50 126,957,010.94
Non-current assets:
Available-for-sale financial assets
Held-to-maturity investments
Long-term receivables
Long-term equity investment 186,608,900.00 186,608,900.00
Investment real estate 28,189,106.32 28,796,525.38
Fix assets 5,499,002.42 6,491,983.71
Construction in progress 654,356.00 654,356.00
Project materials
Disposal of fixed assets 92,857,471.69 92,857,471.69
Productive biological assets
Oil and natural gas assets
Intangible assets 4,952,309.97 4,988,546.40
Research and development costs
Goodwill
Long-term deferred expenses 166,666.57 191,666.59
Deferred income tax assets 9,194,186.97 9,217,543.32
Other non-current assets
Total non-current assets 328,121,999.94 329,806,993.09
Total assets 455,047,264.44 456,764,004.03
Current liabilities:
Short-term borrowings 120,000,000.00 120,000,000.00
Financial liability measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes payable
Accounts payable 9,740,367.33 10,745,840.16
Accounts received in advance 1,353,927.00 44,162.00
Wage payable 891,561.16 857,735.20
40
深圳中恒华发股份有限公司 2017 年半年度报告全文
Taxes payable 9,642,210.73 10,094,737.11
Interest payable
Dividend payable
Other accounts payable 11,942,971.48 13,383,939.40
Divided into liability held for sale
Non-current liabilities due within 1
year
Other current liabilities
Total current liabilities 153,571,037.70 155,126,413.87
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital
securities
Long-term account payable
Long-term wages payable
Special accounts payable
Projected liabilities 2,604,411.81 2,604,411.81
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 2,604,411.81 2,604,411.81
Total liabilities 156,175,449.51 157,730,825.68
Owners’ equity:
Share capita 283,161,227.00 283,161,227.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 146,587,271.50 146,587,271.50
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus reserve 77,391,593.25 77,391,593.25
41
深圳中恒华发股份有限公司 2017 年半年度报告全文
Retained profit -208,268,276.82 -208,106,913.40
Total owner’s equity 298,871,814.93 299,033,178.35
Total liabilities and owner’s equity 455,047,264.44 456,764,004.03
3. Consolidated Profit Statement
In RMB
Item Current Period Last Period
I. Total operating income 439,480,144.17 309,538,525.56
Including: Operating income 439,480,144.17 309,538,525.56
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 437,502,286.20 301,336,765.71
Including: Operating cost 398,913,925.08 264,288,398.24
Interest expense
Commission charge and commission
expense
Cash surrender value
Net amount of expense of
compensation
Net amount of withdrawal of
insurance contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Taxes and surcharge 2,317,887.45 2,156,369.16
Sales expenses 7,363,051.86 5,283,735.71
Administration expenses 24,085,956.74 27,295,883.47
Financial expenses 4,914,890.46 2,312,379.13
Losses of devaluation of asset -93,425.39
Add: Changing income of fair
value(Loss is listed with “-”)
Investment income (Loss is listed
with “-”)
Including: Investment income
on affiliated company and joint venture
42
深圳中恒华发股份有限公司 2017 年半年度报告全文
Exchange income (Loss is
listed with “-”)
Other income
III. Operating profit (Loss is listed with
1,977,857.97 8,201,759.85
“-”)
Add: Non-operating income 927,283.49 1,518,636.51
Including: Disposal gains of
1,549.73 116,007.01
non-current asset
Less: Non-operating expense 34,922.55 63,225.68
Including: Disposal loss of
34,871.67 18,924.00
non-current asset
IV. Total Profit (Loss is listed with “-”) 2,870,218.91 9,657,170.68
Less: Income tax expense 723,746.91 2,384,214.46
V. Net profit (Net loss is listed with “-”) 2,146,472.00 7,272,956.22
Net profit attributable to owner’s of
2,146,472.00 7,272,956.22
parent company
Minority shareholders’ gains and
losses
VI. Net after-tax of other comprehensive
income
Net after-tax of other comprehensive
income attributable to owners of parent
company
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1. Changes as a result of
re-measurement of net defined benefit
plan liability or asset
2. Share of the other
comprehensive income of the investee
accounted for using equity method which
will not be reclassified subsequently to
profit and loss
(II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1. Share of the other
comprehensive income of the investee
43
深圳中恒华发股份有限公司 2017 年半年度报告全文
accounted for using equity method which
will be reclassified subsequently to profit
or loss
2. Gains or losses arising
from changes in fair value of
available-for-sale financial assets
3. Gains or losses arising
from reclassification of held-to-maturity
investment as available-for-sale financial
assets
4. The effect hedging portion
of gains or losses arising from cash flow
hedging instruments
5. Translation differences
arising on translation of foreign currency
financial statements
6. Other
Net after-tax of other comprehensive
income attributable to minority
shareholders
VII. Total comprehensive income 2,146,472.00 7,272,956.22
Total comprehensive income
2,146,472.00 7,272,956.22
attributable to owners of parent Company
Total comprehensive income
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.0076 0.0257
(ii) Diluted earnings per share 0.0076 0.0257
Enterprise combine under the same control in the Period, the combined party realized net profit of 0 Yuan before combination, and
realized 0 Yuan at last period for combined party
Legal representative: Li Zhongqiu Person in charge of accounting works: Yang Bin
Person in charge of accounting institution: Wu Aijie
4. Profit Statement of Parent Company
In RMB
Item Current Period Last Period
I. Operating income 19,368,319.99 21,050,313.65
Less: Operating cost 2,104,257.94 2,177,884.29
44
深圳中恒华发股份有限公司 2017 年半年度报告全文
Taxes and surcharge 1,295,896.25 1,097,952.84
Sales expenses
Administration expenses 13,448,031.17 15,433,330.85
Financial expenses 2,847,630.46 5,221,263.90
Losses of devaluation of asset -93,425.39
Add: Changing income of fair
value(Loss is listed with “-”)
Investment income (Loss is
listed with “-”)
Including: Investment income
on affiliated company and joint venture
Other income
II. Operating profit (Loss is listed
-234,070.44 -2,880,118.23
with “-”)
Add: Non-operating income 50,111.89 41,539.00
Including: Disposal gains of
1,278.00
non-current asset
Less: Non-operating expense 50.88 18,924.00
Including: Disposal loss of
18,924.00
non-current asset
III. Total Profit (Loss is listed with
-184,009.43 -2,857,503.23
“-”)
Less: Income tax expense -22,646.01 -714,375.81
IV. Net profit (Net loss is listed with
-161,363.42 -2,143,127.42
“-”)
V. Net after-tax of other comprehensive
income
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1. Changes as a result of
re-measurement of net defined benefit
plan liability or asset
2. Share of the other
comprehensive income of the investee
accounted for using equity method
which will not be reclassified
subsequently to profit and loss
45
深圳中恒华发股份有限公司 2017 年半年度报告全文
(II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1. Share of the other
comprehensive income of the investee
accounted for using equity method
which will be reclassified subsequently
to profit or loss
2. Gains or losses arising
from changes in fair value of
available-for-sale financial assets
3. Gains or losses arising
from reclassification of held-to-maturity
investment as available-for-sale
financial assets
4. The effect hedging
portion of gains or losses arising from
cash flow hedging instruments
5. Translation differences
arising on translation of foreign
currency financial statements
6. Other
VI. Total comprehensive income -161,363.42 -2,143,127.42
VII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
5. Consolidated Cash Flow Statement
In RMB
Item Current Period Last Period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 245,041,670.12 178,719,535.63
services
Net increase of customer deposit
and interbank deposit
Net increase of loan from central
bank
46
深圳中恒华发股份有限公司 2017 年半年度报告全文
Net increase of capital borrowed
from other financial institution
Cash received from original
insurance contract fee
Net cash received from reinsurance
business
Net increase of insured savings and
investment
Net increase of amount from
disposal financial assets that measured
by fair value and with variation
reckoned into current gains/losses
Cash received from interest,
commission charge and commission
Net increase of capital borrowed
Net increase of returned business
capital
Write-back of tax received
Other cash received concerning
1,905,715.83 6,735,237.88
operating activities
Subtotal of cash inflow arising from
246,947,385.95 185,454,773.51
operating activities
Cash paid for purchasing
commodities and receiving labor 216,567,324.72 130,584,597.67
service
Net increase of customer loans and
advances
Net increase of deposits in central
bank and interbank
Cash paid for original insurance
contract compensation
Cash paid for interest, commission
charge and commission
Cash paid for bonus of guarantee
slip
Cash paid to/for staff and workers 36,300,498.57 30,682,437.45
Taxes paid 9,434,091.06 14,888,534.34
Other cash paid concerning
20,042,838.52 34,723,553.62
operating activities
47
深圳中恒华发股份有限公司 2017 年半年度报告全文
Subtotal of cash outflow arising from
282,344,752.87 210,879,123.08
operating activities
Net cash flows arising from operating
-35,397,366.92 -25,424,349.57
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
investment
Cash received from investment
income
Net cash received from disposal of
fixed, intangible and other long-term 75,901.58 158,656.34
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from investing
75,901.58 158,656.34
activities
Cash paid for purchasing fixed,
3,979,604.31 3,949,242.30
intangible and other long-term assets
Cash paid for investment
Net increase of mortgaged loans
Net cash received from
subsidiaries and other units obtained
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
3,979,604.31 3,949,242.30
activities
Net cash flows arising from investing
-3,903,702.73 -3,790,585.96
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
investment
Including: Cash received from
absorbing minority shareholders’
investment by subsidiaries
48
深圳中恒华发股份有限公司 2017 年半年度报告全文
Cash received from loans 99,600,311.57 57,020,825.00
Cash received from issuing bonds
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
99,600,311.57 57,020,825.00
activities
Cash paid for settling debts 87,960,209.96 595,950,388.73
Cash paid for dividend and profit
4,119,482.39 5,330,803.55
distributing or interest paying
Including: Dividend and profit of
minority shareholder paid by
subsidiaries
Other cash paid concerning
financing activities
Subtotal of cash outflow from financing
92,079,692.35 601,281,192.28
activities
Net cash flows arising from financing
7,520,619.22 -544,260,367.28
activities
IV. Influence on cash and cash
equivalents due to fluctuation in -390,104.21 -15,237.48
exchange rate
V. Net increase of cash and cash
-32,170,554.64 -573,490,540.29
equivalents
Add: Balance of cash and cash
104,015,312.97 632,846,956.16
equivalents at the period-begin
VI. Balance of cash and cash
71,844,758.33 59,356,415.87
equivalents at the period-end
6. Cash Flow Statement of Parent Company
In RMB
Item Current Period Last Period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 10,850,641.39 11,823,161.27
services
Write-back of tax received
Other cash received concerning 37,579,467.16 31,580,866.37
49
深圳中恒华发股份有限公司 2017 年半年度报告全文
operating activities
Subtotal of cash inflow arising from
48,430,108.55 43,404,027.64
operating activities
Cash paid for purchasing
commodities and receiving labor
service
Cash paid to/for staff and workers 2,524,734.01 2,433,244.76
Taxes paid 2,236,783.63 10,242,618.35
Other cash paid concerning
37,794,518.68 39,784,929.43
operating activities
Subtotal of cash outflow arising from
42,556,036.32 52,460,792.54
operating activities
Net cash flows arising from operating
5,874,072.23 -9,056,764.90
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
investment
Cash received from investment
income
Net cash received from disposal of
fixed, intangible and other long-term 576.00
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from investing
576.00
activities
Cash paid for purchasing fixed,
1,377,592.31 2,765,792.00
intangible and other long-term assets
Cash paid for investment
Net cash received from
subsidiaries and other units
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
1,377,592.31 2,765,792.00
activities
50
深圳中恒华发股份有限公司 2017 年半年度报告全文
Net cash flows arising from investing
-1,377,592.31 -2,765,216.00
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
investment
Cash received from loans 15,000,000.00 15,000,000.00
Cash received from issuing bonds
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
15,000,000.00 15,000,000.00
activities
Cash paid for settling debts 15,000,000.00 518,550,000.00
Cash paid for dividend and profit
2,857,775.00 4,278,638.49
distributing or interest paying
Other cash paid concerning
financing activities
Subtotal of cash outflow from financing
17,857,775.00 522,828,638.49
activities
Net cash flows arising from financing
-2,857,775.00 -507,828,638.49
activities
IV. Influence on cash and cash
equivalents due to fluctuation in 807.57 90.95
exchange rate
V. Net increase of cash and cash
1,639,512.49 -519,650,528.44
equivalents
Add: Balance of cash and cash
10,375,152.87 524,937,734.32
equivalents at the period -begin
VI. Balance of cash and cash
12,014,665.36 5,287,205.88
equivalents at the period -end
7. Statement of Changes in Owners’ Equity (Consolidated)
This Period
In RMB
Current period
Owners’ equity attributable to parent company Minorit Total
Item
Share Other equity Capital Less: Other Reason Surplus Provisio Retaine y owners’
capital instrument reserve Invento compre able reserve n of d profit interests equity
51
深圳中恒华发股份有限公司 2017 年半年度报告全文
Perpet ry hensive reserve general
ual shares income risk
Prefer
capita
red Other
l
stock
securi
ties
283,16 -187,44
I. Balance at the 146,587 77,391, 319,698
1,227. 1,523.1
end of the last year ,271.50 593.25 ,568.63
00 2
Add:
Changes of
accounting policy
Error
correction of the
last period
Enterprise
combine under
the same control
Other
II. Balance at the 283,16 -187,44
146,587 77,391, 319,698
beginning of this 1,227. 1,523.1
,271.50 593.25 ,568.63
year 00 2
III. Increase/
Decrease in this 2,146,4 2,146,4
year (Decrease is 72.00 72.00
listed with “-”)
(i) Total 2,146,4 2,146,4
comprehensive
72.00 72.00
income
(ii) Owners’
devoted and
decreased capital
1.Common shares
invested by
shareholders
2. Capital invested
by holders of other
equity instruments
3. Amount
reckoned into
owners equity with
share-based
payment
4. Other
(III) Profit
distribution
1. Withdrawal of
52
深圳中恒华发股份有限公司 2017 年半年度报告全文
surplus reserves
2. Withdrawal of
general risk
provisions
3. Distribution for
owners (or
shareholders)
4. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital reserves
conversed to
capital (share
capital)
2. Surplus reserves
conversed to
capital (share
capital)
3. Remedying loss
with surplus
reserve
4. Other
(V) Reasonable
reserve
1. Withdrawal in
the report period
2. Usage in the
report period
(VI)Others
IV. Balance at the 283,16 146,587 77,391,
-185,29
321,845
end of the report 1,227. 5,051.1
,271.50 593.25 ,040.63
period 00 2
Last Period
In RMB
Last Period
Owners’ equity attributable to parent company
Other equity
instrument Minorit
Less: Other Provisio Total
Item y
Perpet Reason
Share Capital Invento compre Surplus n of Retaine owners’
able interest
Prefer ual equity
capital reserve ry hensive reserve general d profit
red reserve s
capita Other
shares income risk
stock l
securi
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深圳中恒华发股份有限公司 2017 年半年度报告全文
ties
283,16 -195,42
I. Balance at the 146,283 77,391, 311,406
1,227. 9,900.9
end of the last year ,642.90 593.25 ,562.20
00 5
Add:
Changes of
accounting policy
Error 2,530,6 2,530,6
correction of the
67.50 67.50
last period
Enterprise
combine under the
same control
Other
II. Balance at the 283,16 -192,89
146,283 77,391, 313,937
beginning of this 1,227. 9,233.4
,642.90 593.25 ,229.70
year 00 5
III. Increase/
Decrease in this 303,628 5,457,7 5,761,3
year (Decrease is .60 10.33 38.93
listed with “-”)
(i) Total 5,457,7 5,457,7
comprehensive
10.33 10.33
income
(ii) Owners’ 303,628 303,628
devoted and
.60 .60
decreased capital
1.Common shares
invested by
shareholders
2. Capital invested
by holders of other
equity instruments
3. Amount
reckoned into
owners equity with
share-based
payment
303,628 303,628
4 Other
.60 .60
(III) Profit
distribution
1. Withdrawal of
surplus reserves
2. Withdrawal of
general risk
provisions
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深圳中恒华发股份有限公司 2017 年半年度报告全文
3. Distribution for
owners (or
shareholders)
4. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital reserves
conversed to
capital (share
capital)
2. Surplus reserves
conversed to
capital (share
capital)
3. Remedying loss
with surplus
reserve
4. Other
(V) Reasonable
reserve
1. Withdrawal in
the report period
2. Usage in the
report period
(VI)Others
IV. Balance at the 283,16 146,587 77,391,
-187,44
319,698
end of the report 1,227. 1,523.1
,271.50 593.25 ,568.63
period 00 2
8. Statement of Changes in Owners’ Equity (Parent Company)
Current amount
In RMB
Current period
Other equity instrument
Perpetu Other
Less: Total
Item Share Capital comprehe Reasonab Surplus Retaine
al
Preferre Inventory owners’
capital capital Other reserve nsive le reserve reserve d profit
d stock shares equity
securiti income
es
I. Balance at the 283,161, 146,587,2 77,391,59 -208,10 299,033,1
end of the last year 227.00 71.50 3.25 6,913.4 78.35
55
深圳中恒华发股份有限公司 2017 年半年度报告全文
0
Add: Changes
of accounting
policy
Error
correction of the
last period
Other
II. Balance at the 283,161, -208,10
146,587,2 77,391,59 299,033,1
beginning of this 6,913.4
227.00 71.50 3.25 78.35
year 0
III. Increase/
Decrease in this -161,36 -161,363.
year (Decrease is 3.42 42
listed with “-”)
(i) Total -161,36 -161,363.
comprehensive
3.42 42
income
(ii) Owners’
devoted and
decreased capital
1.Common shares
invested by
shareholders
2. Capital invested
by holders of other
equity instruments
3. Amount
reckoned into
owners equity with
share-based
payment
4. Other
(III) Profit
distribution
1. Withdrawal of
surplus reserves
2. Distribution for
owners (or
shareholders)
3. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital reserves
conversed to
capital (share
capital)
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深圳中恒华发股份有限公司 2017 年半年度报告全文
2. Surplus reserves
conversed to
capital (share
capital)
3. Remedying loss
with surplus
reserve
4. Other
(V) Reasonable
reserve
1. Withdrawal in
the report period
2. Usage in the
report period
(VI)Others
IV. Balance at the 283,161, -208,26
146,587,2 77,391,59 298,871,8
end of the report 8,276.8
227.00 71.50 3.25 14.93
period 2
Amount last period
In RMB
Last period
Other equity instrument
Perpetu Other
Less: Total
Item Share al Capital comprehe Reasonab Surplus Retaine
Preferre Inventory owners’
capital capital Other reserve nsive le reserve reserve d profit
d stock shares equity
securiti income
es
-209,42
I. Balance at the 283,161, 146,283,6 77,391,59 297,415,7
0,732.2
end of the last year 227.00 42.90 3.25 30.87
8
Add: Changes
of accounting
policy
Error
2,530,6 2,530,667
correction of the
67.50 .50
last period
Other
II. Balance at the 283,161, -206,89
146,283,6 77,391,59 299,946,3
beginning of this 0,064.7
227.00 42.90 3.25 98.37
year 8
III. Increase/
303,628.6 -1,216,8 -913,220.
Decrease in this
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深圳中恒华发股份有限公司 2017 年半年度报告全文
year (Decrease is 0 48.62 02
listed with “-”)
(i) Total -1,216,8 -1,216,84
comprehensive
48.62 8.62
income
(ii) Owners’ 303,628.6 303,628.6
devoted and
0 0
decreased capital
1.Common shares
invested by
shareholders
2. Capital invested
by holders of other
equity instruments
3. Amount
reckoned into
owners equity with
share-based
payment
303,628.6 303,628.6
4. Other
0 0
(III) Profit
distribution
1. Withdrawal of
surplus reserves
2. Distribution for
owners (or
shareholders)
3. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital reserves
conversed to
capital (share
capital)
2. Surplus reserves
conversed to
capital (share
capital)
3. Remedying loss
with surplus
reserve
4. Other
(V) Reasonable
reserve
1. Withdrawal in
the report period
2. Usage in the
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深圳中恒华发股份有限公司 2017 年半年度报告全文
report period
(VI)Others
IV. Balance at the 283,161, -208,10
146,587,2 77,391,59 299,033,1
end of the report 6,913.4
227.00 71.50 3.25 78.35
period 0
III. Company profile
1. The registration place of the enterprise, the form of organization and the headquarters address
Shenzh Zhongheng HUAFA Company Limited (hereinafter referred to as Company or the Company), established on 8 December
1981. uniform social cedit code 91440300618830372G.
Registered place and head office of the Company: 411 Bldg., Huafa (N) Road, Futian District, Shenzhen
Legal representative: Li Zhongqiu
Registered capital: RMB 283,161,227.00
2. The nature of the business and the main business activities
The Company belongs to the computer, telecommunication and manufacturing of other electronic equipment. Business scope:
producing and sales of vary colour TV set, liquid crystal disply, LCD (operates in branch), radio-recorder, sound equipment,
electronic eatch, electronic game and computers, the printed wiring board, precision injection parts, light packaging material
(operates in Wuhan) and hardware (including tool and mould) for various elctronic producs and supporting parts, plating and surface
treatment and tin wire, development and operation of real estate (Shen Fang Di Zi No.: 7226760) and property management. Funded
affiliated companies in Wuhan and Julin. Setting up branches in capital of the province (Lhasa City excluded) in China and
municipality directrly under the central government.
3. Relevant party offering approval reporting of financial statements and date thereof
The financial statement has been deliberated and approved by BOD on 25 August 2017. According to Article of Association, the
statement shall be submit for deliberation in shareholders general meeting.
4. Scope of consolidate financial statement
Consolidate scope in the Period including: parent company – Shenzhen Zhongheng Huafa Company Limited, subsidiary including
Shenzhen Huafa Perpoerty Leasing Management Co., Ltd. (no annual inspection in 2011, and business license revoke on 1 April
2014 ), Shenzhen Zhongheng Huafa perperty Co., Ltd., Wuhan Hengfa Technology Co., Ltd., Shenzhen Huafa Hengtian Co., Ltd.
and Shenzhen Huafa Hengtai Co., Ltd. more of subsidiaries found in “Equity in other subjects”.
IV. Preparation basis of Financial Statements
1. Preparation basis
Base on the running continuously and actual transactions and events, in line with the Accounting Standards for Business Enterprise –
Basic Standards and specific principle of accounting standards issued by the Ministry of Finance, the Company prepared and
formulate the financial statement lies on the followed important accounting policy and estimation.
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深圳中恒华发股份有限公司 2017 年半年度报告全文
2. Going concern
The Company estimated that the production and sales of the Company, in 12 months since end of the period, will in a virtuous cycle.
We has good management and continuous operation ability, and there is no risk of continuing operations.
V. Important accounting policy and estimation
Notes on specific accounting policies and accounting estimation:
According to actual operation charateristic, the Group formulate specific accounting policy and accounting estimation, including
trade cycle, recognization and measurement on account bad debt provision of receivables, inventory measurement, classification and
depreciation method of fixed assets, intangible assets amortization and recognization and measurement of revenue etc.
1. Declaration of obedience to Accounting Standards for Business Enterprise
The Financial Statements of the Company are up to requirements of Accounting Standards for Business Enterprise and also a true and
thorough reflection to the relevant information as the Company’s financial position dated 30th June 2017 and the operation results as
well as cash flow for the first half of 2017.
2. Accounting period
The Company’s accounting year is Gregorian calendar year, namely from 1st January to 31st December of every year.
3. Business cycle
The Company’s business cycle is one year (12 months) as a normal cycle, and the business cycle is the determining criterion for the
liquidity of assets and liabilities of the Company.
4. Bookkeeping standard currency
The Renminbi (RMB) is taken as the book-keeping standard currency.
5. Accounting methods for consolidation of enterprises under the same control or otherwise
(1) Consolidation of enterprises under the same control
Where the Company for long term equity investment arising from business combination under common control satisfies the
combination consideration by payment of cash, transfer of non-cash assets or assumption of debt, the carrying value of the net assets
of the acquire in combined financial statement of the ultimate controller shared by the Company as at the combination date shall be
deemed as the initial investment cost of such long term equity investment. If the equity instrument issued by combining party are
consider as the combination consideration, than the total value of the issuing shares are consider as the share capital. The difference
between the initial cost of long-term equity investment and book value of consideration (or total face value of the shares issued) paid,
capital surplus adjusted; if the capital surplus not enough to written down, than retained earning adjusted.
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深圳中恒华发股份有限公司 2017 年半年度报告全文
(2) Business combination not under common control
As for business combination not under common control, combination costs refer to the sum of the fair value of the assets paid,
liabilities occurred or assumed as well as equity securities issued by the acquirer to obtain control over the acquire as at the
acquisition date. As for acquiree that obtained by consolidation not under the same control, the qualified confirmation of identified
assets, liability and contingency liabilities should calculated by fair value on day of purchased. If the consolidation cost larger than
the fair value amount of indentified net assets from acquiree’s, the differences should be recognized as goodwill. If the consolidation
cost less than the fair value amount of indentified net assets from acquiree’s, the differences should reckoned into current gains/losses
after re-examination.
6. Preparation methods for consolidated financial statements
(1) Consolidation financial statement range
The Company includes all the subsidiaries (including the separate entities controlled by the Company) into consolidated financial
statement, including companies controlled by the Company, non-integral part of the investees and structural main body.
(2) Centralize accounting policies, balance sheet dates and accounting periods of parent and subsidiaries.
As for the inconsistency between the subsidiaries and the Company in the accounting policies and periods, the necessary adjustment
is made on the subsidiaries’ financial statements in the preparation of the consolidated financial statements according to the
Company’s accounting policies and periods.
(3) Setoff of consolidated financial statement
The consolidated financial statements shall be prepared on the basis of the balance sheet of the parent company and subsidiaries,
which offset the internal transactions incurred between the parent company and subsidiaries and within subsidiaries. The owner’s
equity of the subsidiaries not attributable to the parent company shall be presented as minority equity under the owner’s equity item
in the consolidated balance sheet. The long term equity investment of the parent company held by the subsidiaries, deemed as
treasury stock of the corporate group as well as the reduction of owners’ equity, shall be presented as “Less: treasury stock” under the
owners’ equity item in the consolidated balance sheet.
(4) Accounting for acquisition of subsidiary through combination
For subsidiaries acquired under enterprise merger involving enterprises under common control, the assets,
liabilities, operating results and cash flows of the subsidiaries are included in the consolidated financial statements from the
beginning of the financial year in which the combination took place. When preparing the consolidated financial
statements, for the subsidiaries acquired from business combination not involving entities under common control, the
identifiable net assets of the subsidiaries are adjusted on the basis of their fair values on the date of acquisition.
7. Classification of joint arrangements and accounting treatment of joint operation
(1) Classification of joint arrangements
Joint arrangements are divided into joint operations and joint ventures. Joint arrangements achieved not through separate entities are
classified as joint operations. Separate entities refer to the entities with separate identifiable financial architecture including separate
legal entities and legally recognized entities without the qualification of legal entity. Joint arrangements achieved through separate
entities are generally classified as joint ventures. In case of changes in rights entitled to and obligations undertaken by the parties of
joint venture under a joint arrangement due to the changes in relevant facts and circumstances, the parties of joint venture will
re-assess the classification of joint arrangements.
(2) Accounting treatment for joint operations
The parties of joint operation should recognize the following items in relation to their share of interest in joint operation, and proceed
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深圳中恒华发股份有限公司 2017 年半年度报告全文
with accounting in accordance with the relevant provisions under the Accounting Standards for Business Enterprises: to recognize
their separate assets or liabilities held, and recognize the assets or liabilities jointly held according to their respective shares; to
recognize the income from the disposal of their output share under joint operation; to recognize the income from the disposal of
output under joint operation according to their respective shares; to recognize the expenses incurred separately, and recognize the
expenses incurred under joint operation according to their respective shares.
For the parties of a joint operation not under common control, if they are entitled to relevant assets and undertake relevant liabilities
of the joint operation, accounting will be carried out with reference to the provisions of the parties of joint operation; otherwise, it
should be subject to relevant Accounting Standards for Business Enterprises.
(3) Accounting treatment for joint ventures
The parties of a joint venture should perform accounting for investments by the joint venture in accordance with the Accounting
Standards for Business Enterprises No. 2 – Long-term Equity Investments. The parties not under common control should carry out
accounting depending on their influence on the joint venture.
8. Determination criteria of cash and cash equivalent
The cash recognized in the preparation of the cash flow statements, is the Company’s storage cash and deposits available for payment
anytime. The cash equivalents recognized in the preparation of the cash flow statements refers to the investment held by the
Company with characteristic of short-term, strong mobility, easy transfer to known sum cash and has slim risk from value changes.
9. Foreign currency exchange and the conversion of foreign currency statements
(1) Foreign currency exchange
The foreign trading, shall be converted with the rates of exchange, released by People’s Bank of China at beginning of the current
month, when trading occurred. On the balance sheet day, the monetary items are converted on the current rate on the balance sheet
day, concerning the exchange differences between the spot exchange rate on that date and initial confirmation or the sport exchange
rate on previously balance sheet date, should reckoned in to current gains/losses except the capitalizing on exchange differences for
foreign specific loans, which was reckoned into cost for capitalizing. The non-monetary items measured on the historic cost are still
measured by the original bookkeeping rate with the sum of the bookkeeping standard currency unchanged. Items of non-monetary
foreign currency which was calculated by fair value, should converted by spot exchange rate on the confirmation day of fair value,
difference between the converted amount of bookkeeping currency and original amount of bookkeeping currency, was treated as
changes of fair value (including exchange rate changed) reckoned into current gains/losses or recognized as other consolidated
income.
(2) Conversion of foreign currency financial statements
Upon the conversion of the foreign currency financial statements of the controlling subsidiaries, joint enterprises, and the affiliated
enterprises on the bookkeeping standard currency different from the Company’s, the accounting check and preparation of the
consolidated financial statements are made. Assets and liabilities items in the balance sheet are converted on the current rate on the
balance sheet day; owners’ equity items besides the “retained profit” item, the other items are converted on the actual rate. The
revenue and expenses, shall be converted with the rates of exchange, released by People’s Bank of China at beginning of the current
month, when trading occurred. The conversion difference of the foreign currency financial statements is listed specifically in the
owners’ equity in the balance sheet. The cash flow of foreign currency, which was recognized by systematic rational method, shall be
converted with the rates of exchange, released by People’s Bank of China at beginning of the current month, when trading occurred.
The cash influenced by the rate fluctuation is listed specifically in the cash flow statement. As for the foreign operation, the
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深圳中恒华发股份有限公司 2017 年半年度报告全文
conversion difference of the foreign currency statement related to the foreign operation is transferred in proportion into the disposal
of the current loss/gain.
10. Financial instruments
(1) Categories and recognition of financial instruments
The financial instruments are classified as the financial assets, liabilities and equity instruments. As the Company becomes one party
of the financial instrument contract, the instrument is recognized as one financial asset, liability or equity instruments.
In the initial recognition, the financial assets are classified as, the financial assets measured on fair value and with its changes
reckoned into the current loss/gain, long-term invest-bonds, account receivables, and financial assets available for sale. Categories of
the financial assets besides account receivables are dependent on the holding intention and purpose of the Company and its
subsidiaries for the financial assets. In the initial recognition, the financial liabilities are classified as the financial liabilities measured
on the fair value and with its changes reckoned into the current loss/gain, other financial liabilities.
The financial assets measured by fair value and with its variation reckoned into current gains/losses including the transacitonal
finacnial assets held for sale in short period, and the financial assets initially recognzied as financial assets measured by fair value
and with its variation reckoned into current gains/losses; receivables are non-derivative financial assets with fixed or determinable
payments that are not quoted in an active market; available-for-sale financial assets are non-derivative financial assets that are either
designated in this category or not classified in any of the other categories at initial recognition; held-to-maturity investments are
non-derivative financial assets with fixed maturity and fixed or determinable payments that management has the positive intention
and ability to hold to maturity.
(2) Measurement of financial instruments
In the initial recognition, the financial instruments are measured on fair value; and the follow-up measurements are: financial assets
and financial assets available for sale that measured by fair value and with alteration reckoned into current gains/losses together with
the financial liabilities that measured by fair value with alteration reckoned into current gains/losses should measured by fair value;
the held-to-maturity securities, loans, account receivable and other financial liability are measured by amortized cost; as for the
equity instrument investment without quote in an active market and with its fair value can not be reliably measured, and those
derivative financial assets or liability that paid with equity instrument, which have hook with such instrument, should measured by
cost. The loss/gain from the fair value changes in the follow-up measurement of the financial assets and liabilities, besides one
related to the hedge, is dealt with in the following methods: ① The financial assets or liabilities measured on the fair value and with
its changes reckoned into the current loss/gain, are reckoned into the fair value loss/gain; ② The fair value change of the financial
assets available for sale, is reckoned into the other comprehensive income.
(3) Recognition of the fair value for the financial assets and liabilities
For those financial instruments existing in active markets, market quotation in the active market is used to confirm their fair values;
fair value of the financial instruments which have no active market is confirmed by adoption of estimation technology. The
estimation technology mainly including market approach, income approach and cost method
(4) Recognition basis and measurement method for the transfer of financial assets/liabilities
As for the financial assets with all risks and compensations on their patent transferred, or all risks and compensations neither
maintained nor transferred but the control over the assets given up, the recognition of the financial asset may terminate. For the
financial assets are qualified for the recognition of termination conditions, the measurement may be taken on the financial assets
transfer, namely the difference is reckoned into the current loss/gain, between the book value of the transferred financial assets and,
the total of the consideration value received from the transfer and the fair value change accumulative sum originally booked into the
capital reserve. If the partial transfer satisfies the criteria for derecognition, the entire carrying value of the transferred financial asset
shall proportionally allocated between the derecognized portion and the retained portion according to their respective relative fair
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深圳中恒华发股份有限公司 2017 年半年度报告全文
value.
When all or part of the current obligation to a financial liability has been terminated, the entire or part of such financial liability shall
be derecognized.
(5) Impairment loss on financial assets
When an impairment loss on a financial asset carried at amortized cost has occurred, the amount of loss is provided for at the
difference between the asset’s carrying amount and the present value of its estimated future cash flows (excluding future credit losses
that have not been incurred). If there is objective evidence that the value of the financial asset recovered and the recovery is related
objectively to an event occurring after the impairment was recognized, the previously recognized impairment loss is reversed and the
amount of reversal is recognized in profit or loss.
Where there is objective evidence that an impairment loss on available-for-sale financial assets occurs, the cumulative loss arising
from the decline in fair value that had been recognized directly in equity is removed from equity and recognized in impairment loss.
For en investment in debt instrument classified as available-for-sale on which impairment losses have been recognized, if, in a
subsequent period, its fair value increases and the increase can be objectively related to an even occurring after the impairment loss
was recognized in profit or loss, the previously recognized impairment loss is reversed and recognized in profit or loss for the current
period. For an investment in an equity instrument classified as available-for-sale on which impairment losses have been recognized,
the increase in its fair value in a subsequent period is recognized in equity directly.
For investments in equity instruments, the specific quantitative criteria for the Company to determine “serious” or “not temporary”
decrease in their fair value, cost computing method, method for determining closing fair value, and basis for determining the
continuous decrease period are set out below:
Specific quantitative criterion on “serious” decrease in Decrease in closing fair value relative to the cost has reached or
their fair value exceeded 50%
Specific quantitative criterion on “not temporary”
Fall for 12 consecutive months
decrease in their fair value
Consideration of payment at acquisition (net of cash dividends
declared but not yet paid or due but unpaid interest on bonds)
Cost computing method
and the relevant transaction cost are recognized as the
investment cost.
As for a financial instrument for which there is an active
market, the quoted prices in the active market shall be used to
Method for determining closing fair value recognize the fair values thereof. Where there is no active
market for a financial instrument, the enterprise concerned shall
adopt value appraisal techniques to determine its fair value.
The rebound in the continuous fall or the period with the tread
Basis for determining the
of fall is less than 20% margin. Rebound duration not more
continuous decrease period
than six months is treated as continuous decrease period.
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深圳中恒华发股份有限公司 2017 年半年度报告全文
11. Account receivable
(1) Account receivables with single major amount and withdrawal bad debt provision independently
Book balance of the account receivable with over 0.5 million
Criterion or amount standards of major single amount
Yuan
Withdrawal method for individual bad debt provision accrual Recognized on the difference between the book value and the
with major single amount concerned current value of the estimative future cash flow
(2) Account receivable with bad debt provision accrual by portfolio
Portfolio Accrued method for bad debts
Age portfolio Aging of accounts
Withdrawing bad bed provision by aging method in portfolio:
√ Applicable □ Not applicable
Accrued proportion of other accounts
Account ages Accrued proportion of accounts receivable
receivable
1－2 years 5.00% 5.00%
2－3 years 10.00% 10.00%
Over three years 30.00% 30.00%
Withdrawing bad bed provision by percentage of total accounts receivable outstanding in portfolio:
□ Applicable √ Not applicable
Withdrawing bad bed provision by other methods in portfolio:
□ Applicable √ Not applicable
(3) Account receivable with minor single amount but has individual bad debt provision accrual
Receivable has minor amount and can not reflect the risk
Reasons for individual bad debt prevision accrual
characteristic by withdrawing bad debt provision by group
Recognized on the difference between the book value and the
Accrued method for bad debt provision
current value of the estimative future cash flow
12. Inventory
Whether the company needs to comply with the disclosure requirements of the particular industry
No
(1) Categories of inventory
The inventory is goods or manufactured products held for sale, products in process, and materials and matters utilized in the
production or supply of labor. It mainly consists of the raw material, products in process, inventory goods, consumable low-value
product, homemade semi-finished products and commissioned processing materials etc.
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深圳中恒华发股份有限公司 2017 年半年度报告全文
(2) Accounting method for inventory delivery
When inventories are issued, the actual cost is determined by the first in first out method.
(3) Accrual method inventory falling price reserves
On the balance sheet day, the inventory is measured on the lower one between the cost and the net realizable value, and the provision
for the falling price reserves is accrued on each inventory item; however, as for the inventory of large quantity and low price, the
provision is accrued on the inventory category.
(4) Inventory system
Inventory system of the Company is perpetual inventory system
(5) Amortization method for the low-value consumables and wrap page
Low-value consumables and packages are amortized by one-point method
13. Classify to assets available for sale
The non-current assets meet the following conditions shall classify as assets availabel for sale: 1. resolution of disposal on such
non-current assts are being made; 2. Signing an irrevocable transfer agreement with acquiring party; and 3. the transfer will complete
in one year.
14. Long term equity investment
(1) Recognition of initial investment cost
Initial investment cost of long term equity investment obtained by corporate consolidation: in the case of the consolidation of
enterprises under the same control, recognized as the initial cost is the book value of the owners’ equity obtained from the
consolidated party; in the case of the consolidation of enterprises not under the same control, recognized as the initial cost is the
recognized consolidation cost on the purchase day. As for the long term equity investment obtained by cash payment, the initial
investment cost is the actual purchase payment. As for the long term equity investment obtained by the equity securities offering, the
initial investment cost is the fair value of the equity securities. As for the long-term equity investment obtained by debt
reorganization, initial investment cost of such investment should determine by relevant regulation of the “Accounting Standards for
Business Enterprise No.12- Debt Reorganization”; As for the long term equity investment obtained by the exchange of the
non-monetary assets and the debts restructuring, the initial investment cost is recognized on the relevant rules in the Principles.
(2) Subsequent measurement and profit or loss recognition
Where the investor has a control over the investee, long-term equity investments are measured using cost method. Long-term equity
investments in associates and joint ventures are measured using equity method. Where part of the equity investments of an investor in
its associates are held indirectly through venture investment institutions, common fund, trust companies or other similar entities
including investment linked insurance funds, such part of equity investments indirectly held by the investor shall be measured at fair
value through profit or loss according to according to relevant requirements of Accounting Standards for Business Enterprises
No.22—Recognization and measurement of Financial Instruments regardless whether the above entities have significant influence on
such part of equity investments, while the remaining part shall be measured using equity method.
(3) Basis of conclusion for common control and significant influence over the investee
Joint control over an investee refers to where the activities which have a significant influence on return on certain arrangement could
be decided only by mutual consent of the investing parties sharing the control, which includes the sales and purchase of goods or
services, management of financial assets, acquisition and disposal of assets, research and development activities and financing
activities, etc.; Significant influence on the investee refers to that: significant influence over the investee exists when holding more
than 20% but less than 50% of the shares with voting rights or even if the holding is below 20%, there is still significant influence if
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深圳中恒华发股份有限公司 2017 年半年度报告全文
any of the following conditions is met: there is representative in the board of directors or similar governing body of the investee;
participation in the investee’s policy setting process; assign key management to the investee; the investee relies on the technology or
technical information of the investing company; or major transactions with the investee.
15. Investment real estate
Measurement for investment real estate
Cost method
Depreciation or amortization method
The leased buildings in the Company’s investment property adopts straight-line depreciation to calculate and distill depreciation, the
specific depreciation period is 5 to 50 years, the estimated residual rate is 10.00%, and the annual depreciation rate is 1.80% -18.00%;
the leased land use rights in the investment property and the land use rights to be transferred after appreciation adopt straight-line
amortization, the specific amortization period is 50 years, the estimated residual rate is 10.00%, and the annual amortization rate is
1.80%
16. Fixed assets
(1) Recognition
The fixed assets refers to the tangible assets that possess the features as follows: 1. they are held for the sake of producing
commodities, rendering labor service, renting or business management; and 2.their useful life is in excess of one fiscal year with over
2000 Yuan in value. Meanwhile as up to the following conditions, they are recognized: the economic interest related to the fixed
assets probably flow into the Company; the cost of the fixed assets can be measured reliably.
(2) Depreciation method
Category Depreciation method Depreciation life (year) Salvage rate Annual depreciation rate
House and buildings Straight-line depreciation 20-50 10.00% 1.80%-4.50%
Machinery equipment Straight-line depreciation 10 10.00% 9.00%
Mold equipment Straight-line depreciation 3 10.00% 30.00%
Transportation
Straight-line depreciation 5 10.00% 18.00%
equipment
Instrument equipment Straight-line depreciation 5 10.00% 18.00%
Tool equipment Straight-line depreciation 5 10.00% 18.00%
Office equipment Straight-line depreciation 5 10.00% 18.00%
17. Project in progress
Project in progress of the Company divided as self-run construction and out-bag construction. The project in progress of the
Company carried forward as fixed assets while the construction is ready for the intended use. Criteria of the expected condition for
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深圳中恒华发股份有限公司 2017 年半年度报告全文
use should apply one of the follow conditions: The substance construction (installation included) of the fixed assets has completed all
or basically; As the projects have been in test production or operation, and the results show that the assets can operate properly and
produce the qualified products stably, or the test operation result shows the assets can operate or open properly. The expenditure of
the fixed assets on the construction is a little or little. The fixed assets of the project constructed have been up to the requirements of
the design or contract, or basically up to.
18. Borrowing expenses
(1) Recognition principle on capitalization of borrowing expenses
As for the Company’s actual borrowing expenses directly attributable to the assets construction or production, it is capitalized and
reckoned into the relevant assets cost; as for other borrowing expenses, it is recognized on the actual sum and reckoned into the
current loss/gain. The assets up to the capitalization are assets as the capital assets, investment real estate, and inventory reaching the
expectant availability or sale ability.
(2) Calculation of the capitalization
Capitalization term: the period from the time starts to capitalization to the time the capitalization ends. The period of capitalization
suspended is not included. The capitalization of borrowing expenses should be suspended while the abnormal interrupt, which
surpass three months continuously, in the middle of acquisition or construction or production.
As for the borrowing of the specific borrowing, the capitalization sum is recognized on the current actual interest expenses less the
interest income of the borrowing capital not utilized but deposited in the bank or the return of the temporary investment; As for the
appropriation of the general borrowing, the capitalization sum is recognized on the weighted average of, the accumulative assets
expenditure above the specific borrowing, and times the capitalization rate of the appropriation; As for the discount or premium of
the borrowing, the discount or premium to be diluted in every accounting period is recognized in the actual rate method.
The effective interest method is the method for the measurement of the diluted discount or premium or interest expenses on the actual
interest rate; and the actual interest rate is the interest rate used in the discount of the future cash flow in the expectant duration period
as the current book value of the borrowing.
19. Intangible assets
(1) Accounting method, service life and impairment test
The Company’s intangible assets are measured initially on cost. The intangible assets purchased in are taken as the actual cost on the
actual payment and relevant expenditure. As for the intangible assets invested in by the investors, the actual cost is recognized on the
value stipulated in the contract or agreement; however, if what is stipulated in the contract or agreement is not fair value, the actual
cost is recognized on fair value. As for the self-developed intangible assets, their cost is the actual total expenditure before reaching
the expectant purpose.
The follow-up measurements of the Company’s intangible assets respectively are: the line amortization method is taken on the
intangible assets of finite service life, and at the yea-end, the check is taken on the service life and dilution of the intangible assets,
and the corresponding adjustment is made if there is inconsistency with the previous estimative ones. As for the intangible assets of
uncertain service life, it is not diluted, however, the service life is checked at year-end; If there is solid evidence to its finite service
life, its service life is estimated and diluted in straight line method.
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深圳中恒华发股份有限公司 2017 年半年度报告全文
20. Long-term investment impairment
Long-term equity investments, investment properties measured at cost and long-term assets such as fixed assets, construction in
progress, productive biological assets at cost method, oil and gas assets, intangible assets and goodwill are tested for impairment if
there is any indication that an asset may be impaired at the balance date. If the result of the impairment test indicates that the
recoverable amount of the asset is less than its carrying amount, a provision for impairment and an impairment loss are recognized
for the amount by which the asset’s carrying amount exceeds its recoverable amount.
The recoverable amount is the higher of an asset’s fair value less costs to sell and the present value of the future cash flows expected
to be derived from the asset. Provision for asset impairment is determined and recognized on the individual asset basis. If it is not
possible to estimate the recoverable amount of an individual asset, the recoverable amount of a group of assets to which the asset
belongs is determined. A group of assets is the smallest group of assets that is able to generate independent cash inflows.
Goodwill arising from a business combination is tested for impairment at least at each year end, irrespective of whether there is any
indication that the asset may be impaired. For the purpose of impairment testing, the carrying amount of goodwill acquired in a
business combination is allocated from the acquisition date on a reasonable basis to each of the related asset groups; if it is
impossible to allocate to the related asset groups, it is allocated to each of the related set of asset groups. If the carrying amount of the
asset group or set of asset groups is higher than its recoverable amount, the amount of the impairment loss first reduced by the
carrying amount of the goodwill allocated to the asset group or set of asset groups, and then the carrying amount of other assets
(other than the goodwill) within the asset group or set of asset groups, pro rata based on the carrying amount of each asset.
Once the impairment loss of such assets is recognized, it is not be reversed in any subsequent period.
21. Long-term deferred expenditure
The Company’s long-term deferred expenditure is expenses paid out and with one year above (1-year included) benefit period. The
long-term unamortized expenses are diluted by periods according to the benefit period. As the long-term unamortized expenses
cannot enable the accounting period’s beneficiary, all dilution values of the project undiluted yet, are transferred into the current
loss/gain.
22. Employees benefits
(1) Accounting for short-term benefits
In the period of employee services, short-term benefits are actually recognized as liabilities and charged to profit or loss, or if
otherwise required or allowed by other accounting standards, to the related costs of assets for the current period. At the time of actual
occurrence, The Company’s employee benefits are recorded into the profits and losses of the current year or assets associated costs
according to the actual amount. The non-monetary employee benefits are measured at fair value. Regarding to the medical and health
insurance, industrial injury insurance, maternity insurance and other social insurances, housing fund and labor union expenditure and
personnel education that the Company paid for employees, the Company should recognize corresponding employees benefits payable
according to the appropriation basis and proportion as stipulated by relevant requirements and recognize the corresponding liabilities
and include these expenses in the profits or losses of the current period or recognized as respective assets costs.
(2) Accounting for post-employment benefits
During the accounting period in which an employee provides service, the amount payable calculated under defined contribution
scheme shall be recognized as a liability and recorded in profit and loss of the current period or in assets. In respect of the defined
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深圳中恒华发股份有限公司 2017 年半年度报告全文
benefit scheme, the Company shall use the projected unit credit method and attribute the welfare obligations calculated using the
formula stipulated by the defined benefit scheme to the service period of the employee, and record the obligation in the current profit
and loss or related assets cost.
(3) Accounting for termination benefits
The Company recognizes a liability and expenses in the current profit or loss for termination benefits at the earlier of the following
dates: when the Company can no longer withdraw the offer of those benefits; and when the Company recognizes costs for
restructuring involving the payment of termination costs.
(4) Accounting for other long-term employee benefits.
The Company provides other long-term employee benefits to its employees. For those falling within the scope of defined
contribution scheme, the Company shall account for them according to relevant requirements of the defined contribution scheme. In
addition, the Company recognizes and measures the net liabilities or net assets of the other long-term employee benefits according to
relevant requirements of the defined contribution scheme.
23. Accrual liability
The obligation related to contingencies is the current obligation assumed by the company, and performing this obligation may result
in an outflow of economic benefits, and this obligation can be determined as the estimated liabilities when the amount can be reliably
measured. The Company makes initial measurement in accordance with the best estimate for performing the related current
obligation, if the expenditure as needed has a continuous range, and the likelihood of occurrence of various results in this range is the
same, the best estimate is determined by the median value within the range; if a number of items are involved, the best estimate is
determined by the calculation of various possible outcomes and related probabilities.
At the balance sheet date, the book value of estimated liabilities should be rechecked, if there is conclusive evidence indicates that
this book value cannot truly reflect the current best estimate, and then the book value should be adjusted in accordance with the
current best estimate.
24. Share-based payment
The Company's share-based payment includes the equity-settled share-based payments and the cash-settled share-based payments.
The equity-settled share-based payments in exchange for the provision of services by employees shall be measured by the fair value
of the employee’s equity instruments. When there is an active market, it is determined by the quotation in the active market; if there
is no active market, it is determined by the valuation technique, including the price used in the market transactions conducted by the
parties who are familiar with the situation and voluntarily make transactions, the current fair value of other financial instruments
substantially the same, the discount cash flow method, and the option pricing model.
At each balance sheet date, correct the stock options amount of estimated available rights according to the newest achieved follow-up
information such as the change in the number of available rights, the completion of performance indicators, etc., and confirm the cost
should be apportioned at each period on the basis of this. As for the option charges that span multiple accounting periods, it is
generally possible to apportion according to the proportion of the waiting period of this option in a certain accounting period
accounted for the entire waiting period.
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深圳中恒华发股份有限公司 2017 年半年度报告全文
25. Revenue
Whether the company needs to comply with the disclosure requirements of the particular industry
No
(1) Sales of goods
The Company shall ascertain the revenue incurred by selling goods in accordance with the received or receivable price stipulated in
the contract or agreement signed between the enterprise and the buyer unless the following conditions are met simultaneously: ①
the significant risks and rewards of ownership of the goods have been transferred to the buyer by the enterprise; ② the enterprise
retains neither continuous management right that usually keeps relation with the ownership nor effective control over the sold goods;
③the relevant amount of revenue can be measured in a reliable way; ④ relevant economic benefits may flow into the enterprise and
⑤ the relevant costs incurred or to be incurred can be measured in a reliable way.
Money collection for the contract or agreement use the mode of deferred, actually has the finacning features. The revenue of
commodity sales are recognized by the fair value of the money receivable on contract or agreement.
(2) Labor service providing
If an enterprise can, on the date of the balance sheet, reliably estimate the outcome of a transaction concerning the labor services it
provides, it shall recognize the revenue from providing services employing the percentage-of-completion method. The enterprise can
ascertain the schedule of completion (percentage-of-completion) under the transaction concerning the providing of labor services
based on calculation of completed works.
If an enterprise cannot, on the date of the balance sheet, measure the result of a transaction concerning the providing of labor service
in a reliable way, it shall be conducted in accordance with the following circumstances, respectively: ①if the cost of labor services
incurred is expected to be compensated, the revenue from the providing of labor services shall be recognized in accordance with the
amount of the cost of labor services incurred, and the cost of labor services shall be carried forward at the same amount; ②if the cost
of labor services incurred is not expected to compensate, the cost incurred should be included in the current profits and losses, and no
revenue from the providing of labor services may be recognized.
(3) Transition of asset use right
When economic benefits relating to transition of asset use right is likely to inflow into the Company and the relevant income can be
measured reliably, the Company shall recognize such income from transition of asset use right
26. Government subsidy
(1) Determination basis and accounting treatment for government grants related to assets
Government grant obtained by the Company for the purpose of constructing or otherwise forming long term assets is recognized as
government grant related to assets which will be recognized as deferred income. Deferred income is averagely allocated against the
estimated service life of asset since the asset is available for use, and recorded in profit or loss for the current period.
(2) Determination basis and accounting treatment for government grants related to income
The government grants other than the government grants related to assets are recognized as government grants related to income.
Government grants related to income shall be treated as follows: those used to compensate relevant expenses or losses to be incurred
by the enterprise in subsequent periods are recognized as deferred income and recorded in profit and loss for the current period when
such expenses are recognized; and those used to compensate relevant expenses or losses that have been incurred by the enterprise are
recorded directly in profit or loss for the current period.
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深圳中恒华发股份有限公司 2017 年半年度报告全文
27. Deferred income tax asset / deferred income tax liability
(1) Where there is difference between the carrying amount of the assets or liabilities and its tax base, (as for an item that has not been
recognized as an asset or liability, if its tax base can be determined in light of the tax law, the tax base shall recognized as the
difference) the deferred income tax and deferred income tax liabilities shall be determined according to the applicable tax rate in
period of assets expected to recover or liability expected to pay off.
(2) The deferred income tax assets shall be recognized to the extent of the amount of the taxable income which it is most likely to
obtain and which can be deducted from the deductible temporary difference. On balance sheet date, if there have concrete evidence
of obtaining, in future period, enough taxable amounts to deduct the deductible temporary difference, the un-confirmed deferred
income tax assts in previous accounting period shall be recognized. If there has no enough taxable amounts, obtained in future period,
to deducted the deferred income tax assets, book value of the deferred income tax assets shall be kept in decreased.
(3) The taxable temporary differences related to the investments of subsidiary companies and associated enterprises shall recognized
as deferred income tax liability, unless the Company can control the time of the reverse of temporary differences and the temporary
differences are unlikely to be reversed in the expected future. As for the deductible temporary difference related to the investment of
the subsidiary companies and associated enterprises, deferred income tax assets shall be recognized while the temporary differences
are likely to be reversed in the expected future and it is likely to acquire any amount of taxable income tax that may be used for
making up the deductible temporary differences.
28. Leasing
(1) Accounting treatment for operating lease
Operating lease payments are recognized on a straight-line basis over the term of the relevant lease, and are either included in the
cost of related asset or charged to profit or loss for the period.
(2) Accounting treatment for finance lease
At the commencement of the lease term, the Group records the leased asset at an amount equal to the lower of the fair value of the
leased asset and the present value of the minimum lease payments. The difference between the recorded amounts is accounted for as
unrecognized finance charge, using the effective interest method amortization during the lease term. Minimum lease payments
deducting unrecognized financing charges are listed as long-term payables.
29. Other important accounting policy and estimation
The company does not disclose other important accounting policies and accounting estimates.
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深圳中恒华发股份有限公司 2017 年半年度报告全文
30. Changes in important accounting policies and estimates
(1) Changes in important accounting policies
□ Applicable √ Not applicable
(2) Changes in important accounting estimates
□ Applicable √ Not applicable
VI. Taxes
1. Major tax and tax rate
Taxes Taxation basis Tax rate
VAT Taxable income 6%, 17%
Urban maintenance and construction tax Transfer tax payable 7%
Corporate income tax Taxable income 25%
Educational surtax Transfer tax payable 3%
Local educational surtax Transfer tax payable 2%, 1.5%
Property tax 70% of original value of the property 1.2%
Explain the different taxation entity of the enterprise income tax
Taxation entity Income tax rate
VII. Notes to major items in consolidated financial statements
1. Monetary fund
In RMB
Item Closing balance Opening balance
Cash on hand 219,461.32 235,039.12
Bank deposit 59,375,612.16 91,075,765.36
Other monetary fund 6,757,024.62 2,021,905.33
Total 66,352,098.10 93,332,709.81
Other explanation
(1) Other monetary funds at period-end refers to the bank acceptance deposits.
(2) Among the monetary funds at period-end, capital restricted amounted to 6,757,024.62 Yuan. The amounted restricted at
period-begin amounted to 2,021,905.33 Yuan.
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深圳中恒华发股份有限公司 2017 年半年度报告全文
2. Note receivable
(1) Category
In RMB
Item Closing balance Opening balance
Bank acceptance bill 15,192,326.33 30,321,803.17
Commercial acceptance bill 23,106,982.47 22,341,297.72
Total 38,299,308.80 52,663,100.89
(2) Note receivable pledged at period-end
In RMB
Item Amount pledged at period-end
Bank acceptance bill 6,523,922.13
Total 6,523,922.13
(3) Note receivable which have endorsed and discount at period-end and has not expired on balance sheet
date
In RMB
Item De-recognization amount at period-end Un de-recognization amount at period-end
Bank acceptance bill 32,612,996.83
Commercial acceptance bill 17,913,186.02
Total 50,526,182.85
(4) Notes transfer to account receivable for un-implementation from the drawer at period-end
In RMB
Item Amount transferred to receivable at period-end
Other explanation
3. Account receivable
(1) Category of account receivable
In RMB
Closing balance Opening balance
Category
Book balance Bad debt provision Book Book balance Bad debt provision Book value
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深圳中恒华发股份有限公司 2017 年半年度报告全文
Proportio Accrual value Proportio Accrual
Amount Amount Amount Amount
n ratio n ratio
Account receivable
with single
significant amount 7,556,36 7,556,36 7,649,7 7,649,789
3.19% 100.00% 5.00% 100.00%
and withdrawal bad 3.72 3.72 89.11 .11
debt provision
separately
Account receivable
with bad debt 223,856, 24,580.6 223,831,6 139,832 139,808,05
94.46% 0.01% 91.36% 24,580.65 0.02%
provision accrual by 195.10 5 14.45 ,638.85 8.20
portfolio
Accounts with single
significant amount
5,576,97 5,576,97 5,576,9 5,576,978
and bad debts 2.35% 100.00% 3.64% 100.00%
8.19 8.19 78.19 .19
provision accrued
individually
236,989, 13,157,9 223,831,6 153,059 13,251,34 139,808,05
Total 100.00% 100.00%
537.01 22.56 14.45 ,406.15 7.95 8.20
Account receivable with major single amount and withdrawal bad debt provision single at period-end:
√ Applicable □ Not applicable
In RMB
Account receivable (by Closing balance
units) Account receivable Bad debt provision Accrual ratio Accrual reasons
Shenzhen Portman
2,555,374.75 2,555,374.75 100.00% Un-collectable
Bowling Club Co., Ltd.
Hong Kong Haowei
1,870,887.18 1,870,887.18 100.00% Un-collectable
Industrial Co. Ltd.
TCL ACE ELECTRIC
APPLIANCE 1,325,431.75 1,325,431.75 100.00% Un-collectable
(HUIZHOU) CO., LTD
Qingdao Haier Parts
1,225,326.15 1,225,326.15 100.00% Un-collectable
Procurement Co., Ltd.
SKYWORTH
Multimedia (Shenzhen) 579,343.89 579,343.89 100.00% Un-collectable
Co., Ltd.
Total 7,556,363.72 7,556,363.72 -- --
Account receivable with bad debt provision withdrawal by method of account age in portfolio:
√ Applicable □ Not applicable
In RMB
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深圳中恒华发股份有限公司 2017 年半年度报告全文
Closing balance
Account age
Account receivable Bad debt provision Accrual ratio
Sub-item of within one year
Subtotal of within one year 223,364,582.05
1-2 year 491,613.05 24,580.65 5.00%
Total 223,856,195.10 24,580.65
Explanation on portfolio basis:
Withdrawing bad bed provision by percentage of total accounts receivable outstanding in portfolio:
□ Applicable √ Not applicable
Withdrawing bad bed provision by other methods in portfolio:
Accounts with single significant amount and bad debts provision accrued individually
Accrual
Debtor Book balance Bad debt provision Accrual ratio (%)
reasons
Shenzhen Huixin Un-collectable
Video Technology 381,168.96 381,168.96 100.00
Co., Ltd.
Shenzhen Wandelai Un-collectable
Digital Technology 351,813.70 351,813.70 100.00
Co., Ltd.
Shenzhen Dalong Un-collectable
Electronic Co., Ltd. 344,700.00 344,700.00 100.00
Shenzhen Keya Un-collectable
Electronic Co., Ltd. 332,337.76 332,337.76 100.00
Yuehai International Un-collectable
Shipping 323,405.97 323,405.97 100.00
International Co.,
Ltd.
Shenzhen Qunping Un-collectable
Electronic Co., Ltd. 304,542.95 304,542.95 100.00
China Galaxy Un-collectable
Electronics (Hong 288,261.17 288,261.17 100.00
Kong) Co., Ltd.
Dongguan Weite Un-collectable
Electronic Co., Ltd. 274,399.80 274,399.80 100.00
Hong Kong New Un-collectable
Century Electronics 207,409.40 207,409.40 100.00
Co., Ltd.
Shenyang Beitai Un-collectable
Electronic Co., Ltd. 203,304.02 203,304.02 100.00
Beijing Xinfang Un-collectable
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深圳中恒华发股份有限公司 2017 年半年度报告全文
Weiye Technology 193,000.00 193,000.00 100.00
Co., Ltd.
TCL Un-collectable
ELECTRONICS 145,087.14 145,087.14 100.00
(HONG KONG)
CO., LTD.
Huizhou TCL Xinte Un-collectable
Electronics Co., Ltd. 142,707.14 142,707.14 100.00
Shenzhen Sky Worth Un-collectable
– RGB Electronic 133,485.83 133,485.83 100.00
Co., Ltd.
Other Un-collectable
1,951,354.35 1,951,354.35 100.00
Total
5,576,978.19 5,576,978.19
(2)Bad debt provision accrual, switch-back or taken back in the period
Bad debt provision accrual was 0.00 Yuan; the amount collected or switches back amounting to 93,425.39 Yuan.
Including major amount of bad debt provision that switch-back or taken back in the Period:
In RMB
Company Amount switch back or taken back Collection way
(3) Account receivable actually charge off in the period
In RMB
Item Amount charge off
Including major account receivable charge off:
In RMB
Account arising
Account receivable Charge off
Company Amount charge off Reasons from related
nature procedures
transactions (Y/N)
Explanation on account receivable charge off
(4)Top five receivables collected by arrears party at ending balance
Total closing balance of top five receivables by arrears party amounting to 196,189,807.89 Yuan, takes 82.78 percent of the total
account receivable at year-end, bad debt provision accrual correspondingly at year-end amounting as 1,225,326.15Yuan.
The amount of top five receivables collected by arrears party at ending balance has increased over that of last period, mainly due to
the growth of products sales revenue.
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深圳中恒华发股份有限公司 2017 年半年度报告全文
(5)Account receivable derecognition due to financial assets transfer
(6)Assets and liabilities resulted by account receivable transfer and continues involvement
Other explanation:
4. Prepayments
(1) Prepayments listed by account age
In RMB
Closing balance Opening balance
Account age
Amount Proportion Amount Proportion
Within one year 5,288,241.11 94.92% 12,760,284.18 97.59%
1-2 year 57,639.57 1.03% 17,494.85 0.13%
2-3 year 225,369.97 4.05% 297,942.90 2.28%
Total 5,571,250.65 -- 13,075,721.93 --
Explanation on prepayments with over one year in age and reasons of un-settle:
(2)Top 5 prepayments collected by objects at ending balance
Total year-end balance of top five advance payment by prepayment object amounted to 4,285,000.00 Yuan, takes 76.91 percent of
the total advance payment at year-end.
Other explanation:
5. Other account receivable
(1) Category of other account receivable
In RMB
Closing balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book
Proportio Accrual Proportio Accrual Book value
Amount Amount value Amount Amount
n ratio n ratio
Other account
receivable with
single significant 19,668,2 6,042,82 13,625,42 7,572,2 6,042,827 1,529,426.6
61.20% 30.72% 41.36% 79.80%
amount and 54.02 7.38 6.64 54.02 .38 4
withdrawal bad debt
provision separately
Other account 4,117,06 12.81% 57,893.1 1.41% 4,137,972 2,384,0 13.02% 57,893.17 2.43% 2,326,151.8
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深圳中恒华发股份有限公司 2017 年半年度报告全文
receivable with bad 7.05 7 .28 45.02 5
debt provision
accrual by portfolio
Other account
receivable with
single minor amount 8,351,89 8,273,10 8,351,8 8,273,100
25.99% 99.06% 45.62% 99.06% 78,798.40
but withdrawal single 8.56 0.16 98.56 .16
item bad debt
provision
32,137,2 14,373,8 17,763,39 18,308, 14,373,82 3,934,376.8
Total 100.00% 100.00%
19.63 20.71 8.92 197.60 0.71 9
Other account receivable with major single amount and withdrawal bad debt provision single at period-end:
√ Applicable □ Not applicable
In RMB
Other account receivable Closing balance
(units) Other account receivable Bad debt provision Accrual ratio Accrual reasons
Shenzhen Jifang
12,096,000.00 Without bad debt risks
Investment Co., Ltd.
Shenzhen Jifang
1,268,800.00 380,640.00 30.00% Partially recyclable
Investment Co., Ltd.
Portman 4,021,734.22 4,021,734.22 100.00% Un-collectable
Wuwu Branch of
Shenzhen Dachong 641,266.64 Without bad debt risks
Industrial Co., Ltd.
Zhao Baomin 564,646.35 564,646.35 100.00% Un-collectable
Traffic accident
555,785.81 555,785.81 100.00% Un-collectable
compensation
Hebei Botou Court 520,021.00 520,021.00 100.00% Un-collectable
Total 19,668,254.02 6,042,827.38 -- --
Other account receivable with bad debt provision withdrawal by method of account age in portfolio:
√ Applicable □ Not applicable
In RMB
Closing balance
Account age
Other account receivable Bad debt provision Accrual ratio
Sub-item of within one year
Subtotal of within one year 3,826,013.05
1-2 year 64,299.00 7,937.67 12.34%
2-3 year 90,355.00 9,035.50 10.00%
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深圳中恒华发股份有限公司 2017 年半年度报告全文
Over three years 136,400.00 40,920.00 30.00%
Total 4,117,067.05 57,893.17
Explanation on portfolio basis:
Withdrawing bad bed provision by percentage of total accounts receivable outstanding in portfolio:
□ Applicable √ Not applicable
Withdrawing bad bed provision by other methods in portfolio:
√ Applicable □ Not applicable
Other account receivable with single minor amount but withdrawal single item bad debt provision at period-end
Debtor Book balance Bad debt amount Accrual ratio (%) Accrual reasons
Jiantao (Fogang) Laminates 465,528.10 465,528.10 Un-collectable
Co., Ltd. 100.00
Shenzhen Lotus Island 236,293.80 236,293.80 Un-collectable
Restaurant Co., Ltd. 100.00
Shenzhen Mingli Co., Ltd. 170,394.84 170,394.84 Un-collectable
100.00
China Great Wall Computer 168,436.33 168,436.33 Un-collectable
Shenzhen Company Limited 100.00
Shenzhen Hongya 156,390.00 156,390.00 Un-collectable
Electronic Co., Ltd. 100.00
Shangxi Shengyi 156,239.32 156,239.32 Un-collectable
Technology Co., Ltd. 100.00
Changchun Artificial Resin 147,486.96 147,486.96 Un-collectable
Co., Ltd. 100.00
Shenzhen Xinlan 138,038.00 138,038.00 Un-collectable
Technology Co., Ltd. 100.00
Fujian Zhangzhou Weili 112,335.62 112,335.62 Un-collectable
Electronic Enterprise Co., 100.00
Ltd.
Chuangjing Studio 192,794.00 192,794.00 Un-collectable
100.00
Individuals borrow 1,799,073.12 1,799,073.12 Un-collectable
100.00
Labor union 332,402.55 332,402.55 Un-collectable
100.00
Staff canteen etc. 856,753.66 856,753.66 Un-collectable
100.00
Other 3,340,933.86 3,340,933.86 Un-collectable
100.00
Shenzhen Poly Property 78,798.40 Margin without
80
深圳中恒华发股份有限公司 2017 年半年度报告全文
Group Co., Ltd. accrual
Total 8,351,898.56 8,273,100.16 —— ——
(2)Bad debt provision accrual, switch-back or taken back in the period
Bad debt provision accrual was 0.00 Yuan; the amount collected or switches back amounting to 0.00 Yuan.
Including major amount of bad debt provision that switch-back or taken back in the Period:
In RMB
Company Amount switch-back or taken back Collection way
(3) Other account receivable actually charge off in the period
In RMB
Item Amount charge off
Including major other account receivable charge off:
In RMB
Account arising
Other account Charge off
Company Amount charge off Reasons from related
receivable nature procedures
transactions (Y/N)
Explanation on other account receivable charge off:
(4)Other account receivable classify according to nature
In RMB
Nature Ending book balance Opening book balance
Margin 720,065.04 1,793,485.04
Borrow money 1,687,485.10 2,719,549.04
Intercourse funds 9,829,847.66 7,503,053.91
Rent receivable 19,868,931.85 6,195,824.01
Other 30,889.98 96,285.60
Total 32,137,219.63 18,308,197.60
(5)Top 5 other receivables collected by arrears party at ending balance
In RMB
Proportion in total
Ending balance of
Company Nature Closing balance Account age other receivables at
bad debt provision
year-end
81
深圳中恒华发股份有限公司 2017 年半年度报告全文
Shenzhen Jifang
Rent receivable 13,364,800.00 Within 1 year 41.59%
Investment Co., Ltd.
Portman Rent receivable 4,021,734.22 Over three years 12.51% 4,021,734.22
Wuwu Branch of
Shenzhen Dachong Leasing margin 740,909.97 Within 1 year 2.31%
Industrial Co., Ltd.
Zhao Baomin Rent receivable 564,646.35 Over three years 1.76% 564,646.35
Traffic accident
Intercourse funds 555,785.81 Over three years 1.73% 555,785.81
compensation
Total -- 19,247,876.35 -- 59.89% 5,142,166.38
(6)Account receivables related to government subsidies
In RMB
Estimated time/amount
Company Government subsidies Closing balance Ending account age
of collection and basis
(7)Other receivable for termination of confirmation due to the transfer of financial assets
(8)The amount of assets and liabilities that are transferred other receivable and continued to be involved
Other explanation:
6. Inventory
Whether the company needs to comply with the disclosure requirements of the real estate industry
No
(1) Category of inventory
In RMB
Closing balance Opening balance
Item Provision for Provision for
Book balance Book value Book balance Book value
price fall-down price fall-down
Raw materials 27,425,146.08 1,089,943.56 26,335,202.52 29,871,068.31 1,089,943.56 28,781,124.75
Goods in process 65,822.68 65,822.68 0.00
Inventory goods 22,953,891.26 914,927.55 22,038,963.71 15,940,570.96 914,927.55 15,025,643.41
Low value
933,846.23 24,626.66 909,219.57 404,377.39 24,626.66 379,750.73
consumables
82
深圳中恒华发股份有限公司 2017 年半年度报告全文
Homemade
semi-finished 2,859,200.40 41,816.29 2,817,384.11 2,757,682.20 41,816.29 2,715,865.91
products
Total 54,237,906.65 2,071,314.06 52,166,592.59 48,973,698.86 2,071,314.06 46,902,384.80
Does the Company comply with the disclosure requirement of “Information Disclosure Guidelines of Shenzhen Stock Exchange
No.4 – Listed Companies Engaged in Seed Industry and Planting Business” or not
No
(2) Provision for price fall-down
In RMB
Current increased Current decreased
Item Opening balance Switch back or Closing balance
Accrual Other Other
Written-off
Raw materials 1,089,943.56 1,089,943.56
Inventory goods 914,927.55 914,927.55
Low value
24,626.66 24,626.66
consumables
Homemade
semi-finished 41,816.29 41,816.29
products
Total 2,071,314.06 2,071,314.06
(3)Explanation on capitalization of borrowing costs in ending balance of inventory
(4)Assets completed without settle resulted by construction contract at period-end
In RMB
Item Amount
Other explanation:
7. Non-current assets due within one year
In RMB
Item Closing balance Opening balance
Decoration fee 1,741.47 12,191.49
Total 1,741.47 12,191.49
Other explanation:
83
深圳中恒华发股份有限公司 2017 年半年度报告全文
8. Investment real estate
(1) Investment real estate measured at cost
√ Applicable □ Not applicable
In RMB
Item House and building Land use right Construction in process Total
I. Original book value
1.Opening balance 133,661,686.94 133,661,686.94
2.Current increased
(1)outsourcing
(2) inventory\fixed
assets\construction in
process transfer-in
(3) increased by
combination
3.Current decreased
(1) disposal
(2)Other
transfer-out
4.Closing balance 133,661,686.94 133,661,686.94
II. Accumulated
depreciation and
accumulated
amortization
1.Opening balance 79,516,461.92 79,516,461.92
2.Current increased 867,939.18 867,939.18
(1)accrual or
867,939.18 867,939.18
amortization
3.Current decreased
(1) disposal
(2)Other
transfer-out
84
深圳中恒华发股份有限公司 2017 年半年度报告全文
4.Closing balance 80,384,401.10 80,384,401.10
III. Depreciation reserves
1.Opening balance
2.Current increased
(1)accrual
3、Current decreased
(1) disposal
(2)Other
transfer-out
4.Closing balance
IV. Book value
1. Ending book
53,277,285.84 53,277,285.84
value
2. Opening book
54,145,225.02 54,145,225.02
value
(2)Investment real estate measure on fair value
□ Applicable √ Not applicable
(3)Investment real estate without property certification held
In RMB
Item Book value Reasons
Other explanation
9. Fixed assets
(1) Fixed assets
In RMB
House and Machinery Transportatio Tool Office Mold Instrument
Item Total
buildings equipment n equipment equipment equipment equipment equipment
I. Original
book value:
1.Opening 65,608,798.8 77,069,199.6 12,606,833.3 174,538,795.
5,213,153.64 4,384,205.71 6,900,942.25 2,755,661.49
balance 5 9 9 02
85
深圳中恒华发股份有限公司 2017 年半年度报告全文
2.Current
1,899,888.15 1,333,235.05 315,125.87 58,908.93 942,051.20 135,923.08 4,685,132.28
increased
1,899,888.15 1,333,235.05 315,125.87 58,908.93 942,051.20 135,923.08 4,685,132.28
(1)purchasing
(2)Constructi
on in
progress
transfer-in
(3)
increased by
combination
3.Current
280,526.00 152,298.00 1,181.28 2,101.06 436,106.34
decreased
(1)
disposal or 280,526.00 152,298.00 432,824.00
scrapping
4.Closing 65,608,798.8 78,688,561.8 13,548,884.5 178,787,820.
6,394,090.69 4,698,150.30 6,957,750.12 2,891,584.57
balance 5 4 9 96
II.
Accumulativ
e
depreciation
1.Opening 12,890,366.5 57,558,303.0 92,994,088.0
3,162,640.76 2,566,496.57 5,197,749.19 9,192,414.59 2,426,117.30
balance 6 3 0
2.Current
2,650,840.26 2,163,890.44 304,424.38 260,214.75 147,151.49 764,354.05 35,839.44 6,326,714.81
increased
2,650,840.26 2,163,890.44 304,424.38 260,214.75 147,151.49 764,354.05 35,839.44 6,326,714.81
(1)accrual
3.Current
252,473.40 116,818.20 1,063.15 1,890.96 372,245.71
decreased
(1)
disposal or 252,473.40 116,818.20 1,063.15 1,890.96 372,245.71
scrapping
4.Closing 15,541,206.8 59,469,720.0 3,350,246.94 2,825,648.17 5,343,009.72 9,956,768.64 2,461,956.74 98,948,557.1
86
深圳中恒华发股份有限公司 2017 年半年度报告全文
balance 2 7 0
III.
Depreciation
reserves
1.Opening
balance
2.Current
increased
(1)accrual
3.Current
decreased
(1)
disposal or
scrapping
4.Closing
balance
IV. Book
value
1. Ending 50,067,592.0 19,218,841.7 79,839,263.8
3,043,843.75 1,872,502.13 1,614,740.40 3,592,115.95 429,627.83
Book value 3 7 6
2. Opening 52,718,432.2 19,510,896.6 81,544,707.0
2,050,512.88 1,817,709.14 1,703,193.06 3,414,418.80 329,544.19
Book value 9 6 2
(2)Temporarily idle fixed assets
In RMB
Accumulated Depreciation
Item Original book value Book value Note
depreciation reserves
(3) Fixed assets acquired by financing lease
In RMB
Accumulated
Item Original book value Depreciation reserves Book value
depreciation
87
深圳中恒华发股份有限公司 2017 年半年度报告全文
(4) Fixed assets acquired by operating lease
In RMB
Item Ending book value
House and buildings 931,635.11
(5) Certificate of title un-completed
In RMB
Item Book value Reasons
Other explanation
10、Construction in process
(1)Construction in process
In RMB
Closing balance Opening balance
Item Depreciation Depreciation
Book balance Book value Book balance Book value
reserves reserves
Renovation
project of Huafa 654,356.00 654,356.00 654,356.00 654,356.00
Building
Total 654,356.00 654,356.00 654,356.00 654,356.00
(2) Changes of major construction in process in the period
In RMB
Accumul including
Proporti
Fixed ated : interest Interest
Other on of
assets amount capitaliz capitaliz
Opening Current decrease Closing project Sourceof
Item Budget transfer-i Progress of ed ation rate
balance increased d in the balance investme funds
n in the interest amount of the
Period nt in
Period capitaliz of the year
budget
ation year
(3) The provision for impairment of construction projects
In RMB
Item Current accrual amount Accrual reason
Other explanation
88
深圳中恒华发股份有限公司 2017 年半年度报告全文
11. Disposal of fixed assets
In RMB
Item Closing balance Opening balance
Gongming Huafa Electronic City 92,857,471.69 92,857,471.69
Total 92,857,471.69 92,857,471.69
Other explanation:
12. Intangible assets
(1) Intangible assets
In RMB
Non-patented
Item Land use right Patent right Software expenses Total
technology
I. Original book
value
1.Opening
55,187,826.36 661,878.97 55,849,705.33
balance
2.Current
increased
(1)purchasing
(2) internal
R&D
(3) increased
by combination
3.Current
decreased
(1) disposal
4.Closing
55,187,826.36 661,878.97 55,849,705.33
balance
II. Accumulated
amortization
1.Opening
10,569,435.45 402,174.11 10,971,609.56
balance
2.Current 685,967.97 24,942.96 710,910.93
89
深圳中恒华发股份有限公司 2017 年半年度报告全文
increased
(1)accrual 685,967.97 24,942.96 710,910.93
3.Current
decreased
(1) disposal
4.Closing
11,255,403.42 427,117.07 11,682,520.49
balance
III. Depreciation
reserves
1.Opening
balance
2.Current
increased
(1)accrual
3.Current
decreased
(1) disposal
4.Closing
balance
IV. Book value
1. Ending book
43,932,422.94 234,761.90 44,167,184.84
value
2. Opening
44,618,390.91 259,704.86 44,878,095.77
book value
The proportion of intangible assets form by internal R&D in total book value of intangible assets at period-end
(2) Land use rights without certificate of ownership
In RMB
Item Book value Reasons
Other explanation:
90
深圳中恒华发股份有限公司 2017 年半年度报告全文
13. Long-term deferred expenditure
In RMB
Item Opening balance Current increased Amortized in Period Other decreased Closing balance
Golf membership fee 191,666.59 25,000.02 166,666.57
Total 191,666.59 25,000.02 166,666.57
Other explanation
14. Deferred income tax asset /deferred income tax liability
(1) Deferred income tax assets un-offset
In RMB
Closing balance Opening balance
Item Deductible temporary Deferred income tax Deductible temporary Deferred income tax
differences asset differences asset
Provision for impairment
26,449,578.92 6,612,394.73 26,543,004.31 6,635,751.08
of assets
Accrual liability 2,604,411.81 651,102.95 2,604,411.81 651,102.95
Other 4,754,489.08 1,188,622.27 4,754,489.08 1,188,622.27
Total 33,808,479.81 8,452,119.95 33,901,905.20 8,475,476.30
(2) Deferred income tax liabilities un-offset
In RMB
Closing balance Opening balance
Item Taxable temporary Deferred income tax Taxable temporary Deferred income tax
differences liabilities differences liabilities
(3) Amount of deferred income tax asset and deferred income tax liability after trade-off
In RMB
Ending balance of Trade-off between the Opening balance of
Trade-off between the
deferred income tax deferred income tax deferred income tax
Item deferred income tax
assets or liabilities after assets and liabilities at assets or liabilities after
assets and liabilities
off-set period-begin off-set
Deferred income tax
8,452,119.95 8,475,476.30
asset
91
深圳中恒华发股份有限公司 2017 年半年度报告全文
(4) Deferred income tax asset without confirmed
In RMB
Item Closing balance Opening balance
Deductible loss 936,025.05 1,006,234.22
Provision for impairment of assets 3,153,478.41 3,153,478.41
Total 4,089,503.46 4,159,712.63
(5) Deductible losses of deferred income tax asset without confirmed will expired in later year
In RMB
Year Closing amount Opening amount Note
2015
2016
2017 410,676.72 480,885.89
2018 525,348.33 525,348.33
2019
Total 936,025.05 1,006,234.22 --
Other explanation:
15 .Short-term borrowing
(1) Category of short-term borrowing
In RMB
Item Closing balance Opening balance
Pledge loan 6,500,000.00 6,500,000.00
Mortgage borrowing 110,000,000.00 100,000,000.00
Guaranteed loan 20,000,000.00 20,000,000.00
Collateral loan 55,608,516.60 54,710,467.81
Total 192,108,516.60 181,210,467.81
Explanation on category of short-term borrowing:
(2) Overdue short-term loans without payment
The overdue short-term loans without payment at period-end were 0.00 Yuan, including major loans as:
In RMB
Borrower Closing balance Lending rate Overdue time Overdue charge rate
92
深圳中恒华发股份有限公司 2017 年半年度报告全文
Other explanation:
16. Note payable
In RMB
Category Closing balance Opening balance
Bank acceptance 8,373,065.43 16,714,584.01
Total 8,373,065.43 16,714,584.01
Totally 0 Yuan due note payable are paid at period-end
17. Account payable
(1) Account payable
In RMB
Item Closing balance Opening balance
Within 1 year (one year included) 106,141,596.28 61,929,564.68
Over 1 year 10,124,710.02 11,784,860.09
Total 116,266,306.30 73,714,424.77
(2)Major account payable over one year
In RMB
Item Closing balance Reasons of un-paid or carry-over
Shenzhen Yuehai Global Logistics Co.,
2,858,885.97 Unsettled
Ltd.
Taiwan LG Company 1,906,267.50 Unsettled
Total 4,765,153.47 --
Other explanation:
18. Account received in advance
(1) Account received in advance
In RMB
Item Closing balance Opening balance
Within 1 year (one year included) 1,674,598.44 1,067.00
Over 1 year 3,694.60 47,779.60
Total 1,678,293.04 48,846.60
93
深圳中恒华发股份有限公司 2017 年半年度报告全文
(2) Important account received in advance with account age over one year
In RMB
Item Closing balance Reasons of un-paid or carry-over
(3) Items have already cleared without completion from the construction contract at period-end
In RMB
Item Amount
Other explanation:
19. Salary payable
(1) Salary payable
In RMB
Increase during the Decrease during this
Item Opening balance Closing balance
period period
I. Short-term
4,547,625.04 32,966,654.41 33,718,817.98 3,795,461.46
compensation
II. Post-employment
welfare- defined -5,093.82 2,377,173.35 2,392,260.75 -20,181.21
contribution plans
Total 4,542,531.22 35,343,827.76 36,111,078.73 3,775,280.25
(2) Short-term compensation
In RMB
Increase during the Decrease during this
Item Opening balance Closing balance
period period
1. Wages, bonuses, allowances
3,542,662.41 29,015,314.91 29,836,231.63 2,721,745.69
andsubsidies
2. Welfare for workers
2,669,959.73 2,641,302.75 28,656.98
and staff
3. Social insurance 23,041.98 926,216.85 929,180.44 20,078.38
Including: Medical
23,041.98 770,109.84 772,419.45 20,732.37
insurance
Work injury
86,571.04 86,808.16 -237.12
insurance
Maternity 69,535.97 69,952.84 -416.87
94
深圳中恒华发股份有限公司 2017 年半年度报告全文
insurance
4. Housing accumulation
24,310.00 309,863.16 309,863.16 24,310.00
fund
5. Labor union
expenditure and
957,610.65 45,299.76 2,240.00 1,000,670.41
personnel education
expense
Total 4,547,625.04 32,966,654.41 33,718,817.98 3,795,461.46
(3) Defined contribution plans
In RMB
Increase during the Decrease during this
Item Opening balance Closing balance
period period
1. Basic endowment
-5,093.82 2,334,402.36 2,349,283.87 -19,975.32
insurance
2. Unemployment
42,770.99 42,976.88 -205.89
insurance
Total -5,093.82 2,377,173.35 2,392,260.75 -20,181.21
Other explanation:
20. Tax payable
In RMB
Item Closing balance Opening balance
Value-added tax 6,167,030.04 5,921,066.33
Enterprise income tax 6,414,180.44 8,460,507.90
Individual income tax 324,480.28 72,577.79
Urban maintenance and construction tax 54,052.60 444,600.28
Business tax 0.00 958.14
House property tax 295,173.21 763,249.59
Land use tax 743,005.32 324,212.71
Education surcharge 127,271.02 191,311.22
Local education surcharge 72,755.02 101,317.51
Dike fee 1,149.33 1,149.33
Stamp tax 43,149.50 20,009.90
Disposal fund of waste electrical products 1,292,580.00 467,070.00
Total 15,534,826.76 16,768,030.70
95
深圳中恒华发股份有限公司 2017 年半年度报告全文
Other explanation:
21. Interest payable
In RMB
Item Closing balance Opening balance
Interest payable of short-term loans 185,285.99 123,641.69
Total 185,285.99 123,641.69
Major interest overdue without payment
In RMB
Borrower Overdue amount Overdue reasons
Other explanation:
22. Other payable
(1) Classification of other payable according to nature of account
In RMB
Item Closing balance Opening balance
Margin and deposit 8,451,301.12 5,957,390.38
Lease management fee 753,558.41 2,003,231.87
Payables on equipment 32,665.00
Intercourse funds 8,497,970.52 5,330,161.96
After sale and repairmen 1,917,385.00 1,302,101.54
Other 1,376,446.87 2,457,149.41
Total 21,029,326.92 17,050,035.16
(2) Significant other payable with over one year age
In RMB
Item Closing balance Reasons of un-paid or carry-over
Shenzhen Huayongxing Environmental
1,000,000.00 Margin
Protection Technology Co., Ltd.
Linghang Technology (Shenzhen) Co., Ltd. 656,345.28 Unsettled
Shenzhen SED Property Development Co.,
787,057.45 Unsettled
Ltd.
Shenzhen Tongxing Electronics Co., Ltd. 578,259.83 Unsettled
Shenzhen Yongdasheng Investment 558,970.00 Margin
96
深圳中恒华发股份有限公司 2017 年半年度报告全文
Development Co., Ltd.
Total 3,580,632.56 --
Other explanation
23. Accrual liability
In RMB
Item Closing balance Opening balance Causes
Pending action 2,604,411.81 2,604,411.81 Business and labor disputes
Total 2,604,411.81 2,604,411.81 --
Other explanations, including important assumptions and estimation about important estimated liabilities:
24. Share capital
In RMB
Changes in the Period (+,-)
Opening Shares transfer Closing
Issuing new
balance Bonus shares from public Other Subtotal balance
shares
reserves
Total shares 283,161,227.00 283,161,227.00
Other explanation:
Ended as 30 June 2017, the shares of the Company held by controlling shareholder has 116,100,000 shares in status of pledge, taking
41% of the total share capital; pmortgagee is China Merchants Securities Assets Manaegment Co., Ltd. Shares in judicial feeze
amounted as 116,489,894 shares.
25. Capital reserve
In RMB
Increase during the Decrease during this
Item Opening balance Closing balance
period period
Capital premium (equity
96,501,903.02 96,501,903.02
premium)
Other capital reserve 50,085,368.48 50,085,368.48
Total 146,587,271.50 146,587,271.50
Other explanation, including changes and reasons of changes:
26. Surplus reserve
In RMB
97
深圳中恒华发股份有限公司 2017 年半年度报告全文
Increase during the Decrease during this
Item Opening balance Closing balance
period period
Statutory surplus
21,322,617.25 21,322,617.25
reserves
Discretionary surplus
56,068,976.00 56,068,976.00
reserve
Total 77,391,593.25 77,391,593.25
Other explanation, including changes and reasons for changes:
27. Retained profit
In RMB
Item Current period Last period
Retained profit at the end of the previous period
-187,441,523.12 -195,429,900.95
before adjustment
Total undistributed profit at the beginning of
2,530,667.50
adjustment period (+,-)
Retained profit at period-begin after adjustment -187,441,523.12 -192,899,233.45
Add: net profit attributable to owners of the parent
2,146,472.00 5,457,710.33
company
Retained profit at period-end -185,295,051.12 -187,441,523.12
Details about adjusting the retained profits at the beginning of the period:
1) The retroactive adjustments to Accounting Standards for Business Enterprises and its relevant new regulations affect the retained
profits at the beginning of the period amounting to 0.00 Yuan.
2) The changes in accounting policies affect the retained profits at the beginning of the period amounting to 0.00 Yuan.
3) The major accounting error correction affects the retained profits at the beginning of the period amounting to 0.00 Yuan
4) Merge scope changes caused by the same control affect the retained profits at the beginning of the period amounting to 0.00 Yuan.
5) Other adjustments affect the retained profits at the beginning of the period amounting to 0.00 Yuan
28. Operating income and operating cost
In RMB
Current Period Last Period
Item
Income Cost Income Cost
Main business 418,264,065.34 396,452,152.81 286,371,182.79 261,215,066.60
Other business 21,216,078.83 2,461,772.27 23,167,342.77 3,073,331.64
Total 439,480,144.17 398,913,925.08 309,538,525.56 264,288,398.24
29. Tax and surcharges
In RMB
98
深圳中恒华发股份有限公司 2017 年半年度报告全文
Item Current Period Last Period
City maintenance and construction tax 171,863.36 648,491.13
Educational surtax 99,530.65 279,899.79
House property tax 1,349,909.12 184,274.40
Land use tax 432,592.87 119,997.05
Vehicle use tax 3,555.62
Stamp tax 245,831.90
Business tax 0.00 741,511.13
Local education development fee 14,603.93 181,617.29
Other 0.00 578.37
Total 2,317,887.45 2,156,369.16
Other explanation:
30. Sales expenses
In RMB
Item Current Period Last Period
Employee compensation 2,485,833.89 1,895,241.77
Transportation fee 2,120,964.03 1,626,969.69
Commodity inspection fee 425,265.68 417,538.75
Customs fee 10,754.07 50,422.80
Commodity loss 486,106.38 184,429.08
Other 1,834,127.81 1,109,133.62
Total 7,363,051.86 5,283,735.71
Other explanation:
31. Administrative expenses
In RMB
Item Current Period Last Period
Salary 4,544,763.62 4,515,773.03
Depreciation charge 2,821,716.89 2,634,069.61
Social insurance premium 1,744,892.34 3,582,840.30
Entertainment expense 1,480,848.53 1,402,388.24
Taxes and surcharges 0.00 1,587,116.48
Employee benefits 1,210,380.49 1,178,133.14
99
深圳中恒华发股份有限公司 2017 年半年度报告全文
Travel expenses 2,451,878.65 2,012,899.56
Amortization of intangible assets 710,910.93 747,147.36
Transportation fee 552,799.31 836,651.41
Consulting fee 1,201,427.16 1,507,497.56
Security fee 1,010,168.29 545,366.05
Repairs fee 957,282.03 571,994.61
Audit fee 972,000.00 734,235.85
Office allowance 397,708.36 1,550,706.35
Communication fee 148,788.78 189,732.98
Amortization of low value consumables 174,265.51 210,497.70
Securities information disclosure fee 560,425.00 36,071.80
Litigation fee 10.00 264,923.00
Employee education funds 53,821.70
Water and electricity fee 149,863.85
Lease fee 2,246,800.90
Gree fee 127,614.00
Premium 50,736.43
Other expenses 516,853.97 3,187,838.44
Total 24,085,956.74 27,295,883.47
Other explanation:
32. Financial expenses
In RMB
Item Current Period Last Period
Interest costs 4,180,114.84 5,330,803.55
Less: interest income 794,663.73 613,209.75
Add: Exchange loss 1,209,235.54 -3,716,468.30
Add: Other expense 320,203.81 1,311,253.63
Total 4,914,890.46 2,312,379.13
Other explanation:
33. Losses on assets impairment
In RMB
Item Current Period Last Period
100
深圳中恒华发股份有限公司 2017 年半年度报告全文
I. Bad debt losses -93,425.39
Total -93,425.39
Other explanation:
34. Non-operating income
In RMB
Amount reckoned in current
Item Current Period Last Period
non-recurring gains/losses
Total income from disposal of
1,549.73 116,007.01
non-current assets
Including: gains from disposal
1,549.73 116,007.01
of fixed assets
Receive donations 51,500.00
Government subsidy 802,269.68 1,163,469.00
Unable to pay 7,130.19 175,522.50
Penalty revenue 48,833.89 41,539.00
Fine income 16,000.00 22,099.00
Total 927,283.49 1,518,636.51
Government subsidy reckoned into current gains/losses:
In RMB
Subsidy
impact The special Assets-relate
Issuing Offering Amount in Amount in
Item Nature current subsidy d/income-rela
subject causes the Period last period
gains/losses (Y/N) ted
(Y/N)
Subsidy
obtained for
Economic & conforms
Information with the local
Enterprise
Bureau of support Income-relate
development Subsidy N Y 100,000.00
Caidian policy for d
subsidy
District, investment
Wuhan incentive to
encourage
investment
Excellent Caidian Subsidy
enterprise Bureau of obtained for Income-relate
Reward N Y 200,000.00 200,000.00
award for Finance, conforms d
year of 2016 Wuhan with the local
101
深圳中恒华发股份有限公司 2017 年半年度报告全文
support
policy for
investment
incentive to
encourage
investment
Subsidy
obtained for
conforms
Commercial
with the local
Bureau of
support Income-relate
Export bonus Caidian Reward N Y 343,769.68 863,469.00
policy for d
District,
investment
Wuhan
incentive to
encourage
investment
Subsidy
obtained for
conforms
Caidian with the local
Subsidized Bureau of support Income-relate
Subsidy N Y 258,500.00
loan Finance, policy for d
Wuhan investment
incentive to
encourage
investment
Total -- -- -- -- -- 802,269.68 1,163,469.00 --
Other explanation:
35 Non-operating expenditure
In RMB
Amount reckoned in current
Item Current Period Last Period
non-recurring gains/losses
Total losses on disposal of
34,871.67 18,924.00 34,871.67
non-current assets
Other 50.88 50.88
Total 34,922.55 63,225.68 34,922.55
Other explanation:
102
深圳中恒华发股份有限公司 2017 年半年度报告全文
36 Income tax expenses
(1) Statement of income tax expense
In RMB
Item Current Period Last Period
Current income tax expense 746,392.92 3,098,590.27
Deferred income tax expense -22,646.01 -714,375.81
Total 723,746.91 2,384,214.46
(2) Adjustment on accounting profit and income tax expenses
In RMB
Item Current Period
Total profit 2,870,218.91
Income tax based on statutory/applicable rate 717,554.73
Cost, expenses and loss which are not deductible 23,356.35
Impact of the deductible loss for deferred income tax assets,
-17,552.29
which has not recognized before used
Impact on deductible temporary differences or losses deductible
388.13
which was un-recognized as deferred income tax assets
Income tax expense 723,746.91
Other explanation
37 Items of cash flow statement
(1) Other cash received in relation to operation activities
In RMB
Item Current Period Last Period
Unit intercourse account 614,876.45 2,902,221.40
Collection management fee and utilities
159,474.66 2,932,023.33
etc.
Repayment from employees 23,555.74 23,221.40
Margin 15,271.20 264,562.00
Interest income 290,268.10 613,209.75
Government subsidy 802,269.68
Total 1,905,715.83 6,735,237.88
103
深圳中恒华发股份有限公司 2017 年半年度报告全文
Explanation:
(2) Other cash paid in relation to operation activities
In RMB
Item Current Period Last Period
Unit intercourse account 412,358.54 8,763,196.37
Advances to employees 1,737,524.56 1,390,022.62
Litigation fee 2,200,000.00 264,923.00
Margin, deposit 441,370.00 6,601,906.95
Entertainment expense 1,220,133.12 1,477,186.54
Water and electricity 1,623,214.94 2,001,355.59
Travel expenses 1,394,764.69 2,034,807.36
Transportation fee 2,120,964.03 1,896,893.96
Transportation fee 739,779.60 967,138.76
Repairs 956,708.92 571,994.61
Audit fees, consulting fees 2,686,552.16 1,507,497.56
Security 218,400.00 545,366.05
Financial institutions handling fee 213,790.21 1,311,253.63
Office expenses 457,621.51 1,553,388.35
Communication fee 153,528.16 200,451.18
Lease fee 2,233,640.64 2,245,877.49
Other 1,232,487.44 1,390,293.60
Total 20,042,838.52 34,723,553.62
Explanation:
(3) Cash received from other investment activities
In RMB
Item Current Period Last Period
Explanation:
(4) Cash paid related with other investment activities
In RMB
Item Current Period Last Period
Explanation:
104
深圳中恒华发股份有限公司 2017 年半年度报告全文
(5) Other cash received in relation to financing activities
In RMB
Item Current Period Last Period
Explanation:
(6) Cash paid related with other financing activities
In RMB
Item Current Period Last Period
Explanation:
38 Supplementary information to statement of cash flow
(1) Supplementary information to statement of cash flow
In RMB
Supplementary information This Period Last Period
1. Net profit adjusted to cash flow of
-- --
operation activities:
Net profit 2,146,472.00 7,272,956.22
Depreciation of fixed assets, consumption of
oil assets and depreciation of productive 6,822,408.28 7,271,576.88
biology assets
Amortization of intangible assets 710,910.93 747,147.36
Amortization of long-term deferred expenses 35,450.04 35,450.04
Loss from disposal of fixed assets, intangible
assets and other long-term assets(gain is 227,675.02 -97,083.01
listed with “-”)
Abandonment loss of fixed assets (gain is
34,871.67
listed with “-”)
Financial expenses (gain is listed with “-”) 5,488,969.99 5,330,803.55
Decrease of deferred income tax
-714,375.81
asset( (increase is listed with “-”)
Decrease of inventory (increase is listed with
-5,264,207.79 -10,387,188.43
“-”)
Decrease of operating receivable accounts
-74,799,461.03 -78,574,397.07
(increase is listed with “-”)
Increase of operating payable accounts 29,199,543.97 43,690,760.70
105
深圳中恒华发股份有限公司 2017 年半年度报告全文
(decrease is listed with “-”)
Net cash flow arising from operating
-35,397,366.92 -25,424,349.57
activities
2. Material investment and financing not
-- --
involved in cash flow
3. Net change of cash and cash equivalents: -- --
Balance of cash at period end 71,844,758.33 59,356,415.87
Less: Balance of cash equivalent at
104,015,312.97 632,846,956.16
year-begin
Net increasing of cash and cash equivalents -32,170,554.64 -573,490,540.29
(2) Net cash payment for the acquisition of a subsidiary of the current period
In RMB
Amount
Including: --
Including: --
Including: --
Other explanation:
(3) Net cash received from the disposal of subsidiaries
In RMB
Amount
Including: --
Including: --
Including: --
Other explanation:
(4) Constitution of cash and cash equivalent
In RMB
Item Closing balance Opening balance
Ⅰ. Cash 71,844,758.33 104,015,312.97
Including: Cash on hand 219,461.32 235,039.12
Bank deposit available for payment
59,375,612.16 91,075,765.36
at any time
Ⅲ. Balance of cash and cash equivalent at 71,844,758.33 104,015,312.97
106
深圳中恒华发股份有限公司 2017 年半年度报告全文
period-end
Other explanation:
39. Notes for the statement of owners equity changes
Explain the items and adjusted amounted which have adjusted in “Other” of last year’s ending balance:
40. Assets with ownership or use right restricted
In RMB
Item Ending book value Restriction reasons
Monetary Fund 4,557,024.62 Bank acceptance bill
Fixed assets 45,441,469.26 Bank loan secured
Intangible assets 38,980,112.97 Bank loan secured
Investment real estate 28,189,106.32 Bank loan secured
Loans from Hai’er Financial Company
Account receivable 7,268,495.46
secured
Total 124,436,208.63 --
Other explanation:
41. Item of foreign currency
(1) Item of foreign currency
In RMB
Closing balance of foreign
Item Rate of conversion Ending RMB balance converted
currency
Including: USD 312,246.56 6.77 2,115,283.10
HKD 32.66 0.89 28.95
Including: USD 13,348,631.02 6.77 90,428,965.98
Short term loan
Including: USD 5,254,163.46 6.77 35,593,804.94
Account payable
Including: USD 1,738,127.25 6.77 11,774,769.24
Other explanation:
107
深圳中恒华发股份有限公司 2017 年半年度报告全文
(2) Explanation on foreign operational entity, including as for the major foreign operational entity,
disclosed main operation place, book-keeping currency and basis for selection; if the book-keeping
currency changed, explain reasons
□ Applicable √ Not applicable
VIII. Equity in other entity
1. Equity in subsidiary
(1) Constitute of enterprise group
Main operation Share-holding ratio
Subsidiary Registered place Business nature Acquired way
place Directly Indirectly
Huafa Lease Property Investment
Shenzhen Shenzhen 60.00%
Company management establishment
Huafa Property Property Investment
Shenzhen Shenzhen 100.00%
Company management establishment
Hengfa
Production and Investment
Technology Wuhan Wuhan 100.00%
sales establishment
Company
Huafa Hengtian Property Investment
Shenzhen Shenzhen 100.00%
Company management establishment
Huafa Hengtai Property Investment
Shenzhen Shenzhen 100.00%
Company management establishment
Explanation on share-holding ratio in subsidiary different from ratio of voting right:
Basis for controlling the invested entity with half or below voting rights held and without controlling invested entity but with over
half and over voting rights:
Controlling basis for the structuring entity included in consolidated range:
Basis on determining to be a agent or consignor:
Other explanation:
(2) Important non-wholly-owned subsidiary
In RMB
Dividend announced to
Share-holding ratio of Gains/losses attributable Ending equity of
Subsidiary distribute for minority in
minority to minority in the Period minority
the Period
Explanation on holding ratio different from the voting right ratio for minority shareholders:
Other explanation:
108
深圳中恒华发股份有限公司 2017 年半年度报告全文
(3) Main finance of the important non-wholly-owned subsidiary
In RMB
Closing balance Opening balance
Subsidia Non-curr Non-curr Non-curr Non-curr
Current Total Current Total Current Total Current Total
ry ent ent ent ent
assets assets liability liability assets assets liability liability
assets liability assets liability
In RMB
Current Period Last Period
Cash flow Cash flow
Total Total
Subsidiary Operation from Operation from
Net profit comprehensi Net profit comprehensi
Income operation Income operation
ve income ve income
activity activity
Other explanation:
(4) Major restriction in aspect of using the Group’s assets and pay off the debts of the Group
(5) Financial supports or other supporting for the structured body included in consolidate financial
statement range
Other explanation:
IX. The risk associated with financial instruments
The Group's main financial instruments include loans, receivables, payables, tradable financial assets, trading
financial liabilities, etc., please refer to the details of each financial instrument in Note VII. The risks associated
with these financial instruments and the risk management policies adopted by the Group to reduce these risks are
described below. The management of the Group manages and monitors these risk exposures to ensure that the
above risks are controlled within the limits.
1. Various risk management objectives and policies
The objective of the Group's risk management is to strike a proper balance between risks and profits, minimize the
negative impact of risks on the Group's operating results, and maximize the benefits of shareholders and other
equity investors. Based on this risk management objectives, the Group's basic strategy for risk management is to
identify and analyze the risks faced by the Group, establish appropriate risk bottom lines and carry out risk
management, and timely and reliably monitor the risks control them within the limits.
(1) Market risk
The market risk of financial instruments refers to the risk that the fair value or the future cash flows of financial
instruments fluctuate due to the changes in market prices, including foreign exchange risk, interest rate risk and
other price risk.
1) Exchange rate risk
109
深圳中恒华发股份有限公司 2017 年半年度报告全文
The Group's exchange rate risk is mainly related to US dollars and Hong Kong dollars. Except the Group's second
level subsidiary, Hengfa Technology Company’s monitor business has day-to-day operations in US dollars, other
principal business activities of the Group settle accounts in RMB. On 30 June 2017, except for the US dollar
balance of assets and liabilities in below table and the sporadic Hong Kong dollar balance, the Group's assets and
liabilities are all RMB balance. The exchange rate risk arising from the assets and liabilities of the US dollar,
Hong Kong dollar balance may have an impact on the Group's operating results.
Item 2017-6-30 (RMB convertion) 2016-12-31(RMB convertion)
Monetary Fund - USD 312,246.56 16,473.78
Monetary Fund - HKD 32.66 29.21
Account receivable- USD 13,348,631.02 46,955,995.68
Advance account - USD 0.00 8,873,087.08
Account payable- USD 1,738,127.25 1,172,353.00
Short term borrowings - USD 5,254,163.46 34,710,467.81
The Company eyes on the influence from viaration of exchange
2) Interest rate risk
The interest rate risk of the Group arises from bank loans. The financial liabilities of floating interest rate make
the Group face cash flow interest rate risk, and the financial liabilities of fixed rate make the Group face the
interest rate risk of fair value. The Group determines the relative proportion of fixed rate and floating interest
rate contracts based on the prevailing market environment. On 30 June 2017, the Group's interest-bearing debt
was mainly the floating interest rate loan contract denominated in Renminbi and US dollars, amounting to
192,108,516.60 Yuan (December 31, 2016: 181,210,467.81 Yuan).
The Group's risk of changes in the cash flow of financial instruments due to changes in interest rates is mainly
related to the floating interest rate bank loans. The Group's policy is to maintain the floating interest rate of these
loans so as to eliminate the fair value risk of the interest rate changes.
3) Price risk
The Group sells monitors and so on at market prices and is therefore affected by such price fluctuations.
(2) Credit risk
Credit risk refers to the risk that a party of the financial instrument does not fulfill its obligations and causes
property loss to another party. On December 31, 2016, the maximum credit risk exposure that may cause financial
losses to the Group is mainly attributable to the failure of the other party to fulfill its obligations resulting in the
losses of the Group's financial assets and the Group's financial guarantees, including:
The carrying amount of the financial assets recognized in the consolidated balance sheet; for the financial
instruments measured at fair value, the book value reflects its risk exposures but not the maximum risk exposure,
110
深圳中恒华发股份有限公司 2017 年半年度报告全文
and its maximum risk exposure changes with the future changes in fair value.
In order to reduce the credit risk, the Group has set up a special department to determine the credit line, carry out
the credit approval, and implement other monitoring procedures to take necessary measures to recover the overdue
credit. In addition, the Group reviews the recovery of each individual receivable at every balance sheet date to
accrue sufficient provision for bad debts of uncollectible funds. As a result, the Group's management believes that
the Group's credit risk has been greatly reduced.
The Group's working capital is deposited in banks with higher credit ratings, so the credit risk of working capital
is low.
The Group has adopted necessary policies to ensure that all customers have good credit records. In addition to the
top five account receivables, the Group has no other significant credit risk.
The total amount of the top five account receivables is 196,189,807.89 Yuan.
(3) Liquidity risk
The liquidity risk is the risk that the Group is unable to fulfill its financial obligations on the due date. The Group's
approach to manage liquidity risk is to ensure that there is sufficient financial liquidity to fulfill its due debts but
not cause unacceptable losses or damages to the corporate reputation. The Group regularly analyzes the structure
and duration of liabilities to ensure there are sufficient funds. The management of the Group monitors the use of
bank loans and ensures the compliance with loan agreement, and conducts financing consultations with financial
institutions in order to maintain a certain line of credit and reduce the liquidity risk.
The financial assets and financial liabilities held by the Group based on the maturity of the undiscounted
outstanding contractual obligations are analyzed as follows
Amount dated 30 June 2017
Item Within 1 year 1-2 years 2-3 years Over three Total
years
Financial assets
Monetary Fund 66,352,098.10 66,352,098.10
Notes receivable 38,299,308.80 38,299,308.80
Account receivable 223,831,614.45 223,831,614.45
Other account receivable 17,763,398.92 17,763,398.92
Advance account 5,571,250.65 5,571,250.65
Financial liabilities
Short term borrowings 192,108,516.60 192,108,516.60
Notes payable 8,373,065.43 8,373,065.43
111
深圳中恒华发股份有限公司 2017 年半年度报告全文
Account payable 116,266,306.30 116,266,306.30
Other payables 21,029,326.92 21,029,326.92
Advance receivable 1,678,293.04 1,678,293.04
Employee salary payable 3,775,280.25 3,775,280.25
2. Sensitivity analysis
The Group uses the sensitivity analysis technique to analyze the possible impacts of the reasonable and possible
changes in risk variable on the currents profit and losses or the owner's equity. Since any risk variable rarely
changes in isolation, and the correlation among the variables has a significant effect on the final effect amount of a
certain risk variable changes, and the following contents are on the assumption that the change in each variable is
independent.
(1) Sensitivity analysis of foreign exchange risk
Sensitivity analysis of foreign exchange risk assumes that all overseas operating net investment hedges and cash
flow hedges are highly effective.
On the basis of the above assumptions, in case that other variable don’t change, the after-tax effect of the possible
and reasonable changes in the exchange rate on the current profits and losses are as follows
Item Exchange rate Jan.- Jun. 2017 Jan.- Jun. 2016
fluctuation
Impact on net profit Impact on owner's Impact on net profit Impact on owner's
equity equity
All foreign 5% appreciation 1,694,088.89 1,694,088.89 1,298,817.96 1,298,817.96
currency of the RMB
All foreign 5% devaluarion of -1,694,088.89 -1,694,088.89 -1,298,817.96 -1,298,817.96
currency the RMB
X. Related party and related transactions
1. Parent company of the enterprise
Share-holding ratio
Voting right ratio on
Parent company Registration place Business nature Registered capital on the enterprise for
the enterprise
parent company
Production and sales,
Wuhan Zhongheng
real estate
New Science &
development and
Technology Wuhan 34,500,000.00 41.14% 41.14%
sales, housing
Industrial Group
leasing and
Co., Ltd.
management
Explanation on parent company of the Group
112
深圳中恒华发股份有限公司 2017 年半年度报告全文
The ultimate control of the enterprise is Li Zhongqiu.
Other explanation:
2 Subsidiary of the enterprise
Found more in .VII. Equity in other entity in the Note
3. Other related party
Other related party Relationship with the Enterprise
Shenzhen Zhongheng Huafa Science and Technology Co., Ltd. Control by same controlling shareholder and ultimate controller
Wuhan Hengsheng Yutian Industrial Co., Ltd. Control by same controlling shareholder and ultimate controller
Wuhan Hengsheng Photoelectricity Industry Co., Ltd. Control by same controlling shareholder and ultimate controller
Hong Kong Yutian International Investment Co., Ltd. Control by same controlling shareholder and ultimate controller
Wuhan New Oriental Real Estate Development Co., Ltd. Control by same controlling shareholder and ultimate controller
Wuhan Zhongheng Property Management Co., Ltd. Control by same controlling shareholder and ultimate controller
Wuhan Optical Valley Display System Co., Ltd. Control by same controlling shareholder and ultimate controller
Wuhan Yutian Xingye Property Co., Ltd. Control by same controlling shareholder and ultimate controller
Wuhan Yutian Dongfang Property Co., Ltd. Control by same controlling shareholder and ultimate controller
Wuhan Xiahua Zhongheng Electronics Co. Ltd. Control by same controlling shareholder and ultimate controller
Wuhan Zhongheng Yutian Trade Co., Ltd. Control by same controlling shareholder and ultimate controller
Wuhan Yutian Hongguang Real Estate Co., Ltd. Control by same controlling shareholder and ultimate controller
Shenzhen Zhongheng Huayu Investment Holding Co., Ltd. Control by same controlling shareholder and ultimate controller
Yutian Investment Co., Ltd. (Famous Sky Capital Limited) Control by same controlling shareholder and ultimate controller
Yutian International Co., Ltd. Control by same controlling shareholder and ultimate controller
Hong Kong Zhongheng Yutian Co., Ltd. Control by same controlling shareholder and ultimate controller
Shenzhen Yutian Henghua Co., Ltd. Control by same controlling shareholder and ultimate controller
Shenzhen Zhongheng Yongye Technology Co., Ltd. Control by same controlling shareholder and ultimate controller
Shenzhen Yutian Hengrui Co., Ltd. Control by same controlling shareholder and ultimate controller
Other explanation
4. Related transaction
(1) Goods purchasing, labor service providing and receiving
Goods purchasing/labor service receiving
In RMB
Related party Related transaction Current Period Trading limit Whether over the Last Period
113
深圳中恒华发股份有限公司 2017 年半年度报告全文
approved approved limited or
not
Hong Kong Yutian
International
Purchase good 108,075,657.11 277,480,000.00 N 85,710,600.86
Investment Co.,
Ltd.
Wuhan Hengsheng
Photoelectricity Purchase good 60,462,785.68 187,299,000.00 N 27,331,191.04
Industry Co., Ltd.
Goods sold/labor service providing
In RMB
Related party Related transaction Current Period Last Period
Hong Kong Yutian International
Sales good 99,543,022.00 108,182,506.77
Investment Co., Ltd.
Wuhan Hengsheng
Photoelectricity Industry Co., Sales good 1,237,955.69 1,325,408.25
Ltd.
Explanation on goods purchasing, labor service providing and receiving
(2) Related guarantee
As the guarantor
In RMB
Secured party Amount guarantee Valid from Due date Completed or not (Y/N)
Hengfa Technology
50,000,000.00 2016-11-01 2017-11-01 N
Company
Hengfa Technology
30,000,000.00 2016-09-19 2018-09-19 N
Company
As the secured party
In RMB
Guarantor Amount guarantee Valid from Due date Completed or not (Y/N)
Li Zhongqiu 5,000,000.00 2016-12-12 2017-12-12 N
Li Zhongqiu 55,000,000.00 2016-07-25 2017-07-24 Y
Li Zhongqiu 10,000,000.00 2016-08-11 2017-08-10 Y
Li Zhongqiu 20,000,000.00 2016-08-11 2017-08-10 Y
Li Zhongqiu 15,000,000.00 2016-08-11 2017-08-10 Y
Explanation on related guarantee
114
深圳中恒华发股份有限公司 2017 年半年度报告全文
(3) Related party’s fund loan
In RMB
Related party Fund borrowed Valid from Due date Note
Borrowing
Lending
(4) Related party’s assets transfer and debt reorganization
In RMB
Related party Transactions Current Period Last Period
(5) Remuneration of key manager
In RMB
Item Current Period Last Period
Total remuneration 744,034.16 640,060.60
(6)Other related transactions
5. Receivable/payable items of related parties
(1) Receivable item
In RMB
Closing balance Opening balance
Item Related party
Book balance Bad debt provision Book balance Bad debt provision
Hong Kong Yutian
Account receivable International 59,803,239.61 41,299,300.89
Investment Co., Ltd.
Hong Kong Yutian
Advance payment International 8,873,087.08
Investment Co., Ltd.
(2) Payable item
In RMB
Item Related party Ending book balance Opening book balance
Wuhan Hengsheng
Account payable 7,525,071.38 7,173,172.20
Photoelectricity Industry Co.,
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深圳中恒华发股份有限公司 2017 年半年度报告全文
Ltd.
Hong Kong Yutian International
Account payable 15,821,707.14
Investment Co., Ltd.
6. Commitments of related party
7. Other
XI. Commitment or contingency
1. Important commitment
Important commitment on balance sheet date
The Company has no major commitment need to disclosed by end of 30 June 2017
2. Contingency
(1) Contingency on balance sheet date
In August 2015, Shenzhen HUAFA and Wuhan Zhongheng New Technology Industry Group Co., Ltd. (hereinafter referred to as
“Wuhan Zhongheng”) signed the “Cooperation Agreement on Urban Renewal Project of Update Units at Huafa Industrial Park,
Gongming Street, Guangming New District, Shenzhen”. As Shenzhen HUAFA and Wuhan Zhongheng planned to cooperate with
Shenzhen Vanke Real Estate CO., Ltd. (hereinafter referred to as “Shenzhen Vanke”) on the Huafa urban renewal project (hereinafter
referred to as “Huafa Renovation Project) at Gongming Street, Guangming New District, Shenzhen, both parties appointed that
Shenzhen HUAFA entrusted Wuhan Zhongheng to represent it in this cooperation, and established project company - Shenzhen
Vanke Guangming Real Estate Co., Ltd. (hereinafter referred to as “Vanke Guangming”) as the subject of project implementation
with Shenzhen Vanke; Vanke Guangming signed “Demolition Compensation Agreement” with Shenzhen HUAFA and Wuhan
Zhongheng, and paid the compensation for demolition.
On August 21, 2015, Shenzhen HUAFA, Wuhan Zhongheng and Shenzhen Vanke signed the “Cooperative Operation Contract of
Renovation Project at Huafa Industrial Park, Gongming Street, Guangming New District”(hereinafter referred to as “Cooperative
Operation Contract”), the contract refined and appointed the cooperation model and operating steps of both sides. And then Shenzhen
HUAFA, Wuhan Zhongheng and Shenzhen Vanke signed the “Agreement on the Housing Acquisition and Removal Compensation
and Settlement”. After signing the above agreement, Shenzhen Vanke paid the cooperation price of 600 million Yuan to Wuhan
Zhongheng through Vanke Guangming.
In September 2016, Shenzhen Vanke filed an arbitration to South China International Economic and Trade Arbitration Commission
(hereinafter referred to as “South China Arbitration”) as Shenzhen HUAFA and Wuhan Zhongheng violated the appointment of
“Cooperative Operation Contract” and handled the “Confirmation of Subject of Reconstruction Implementation” at an overdue time,
and required Shenzhen HUAFA and Wuhan Zhongheng to pay liquidated damages and attorneys' fees of RMB 464.60 million.
While filing the arbitration, Shenzhen Vanke also applied for property preservation of 400 million Yuan of property under the name
of Shenzhen Huafa and Wuhan Zhongheng to Shenzhen Intermediate People’s Court. According to the ruling of Shenzhen
Intermediate People's Court and “Notification of Sealing up, Seizing and Freezing Assets” (The reference numbers are (2016) Yue 03
Cai Bao No. 51, (2016) Yue 03 Cai Bao No. 53), the 27 house properties (Note: the property within the scope of Huafa renovation
project) under the name of Shenzhen HUAFA and 116,489,894 shares (Note: of which 116,100,000 shares have been pledged) of
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深圳中恒华发股份有限公司 2017 年半年度报告全文
Shenzhen HUAFA stock held by Wuhan Zhongheng were frozen.
On November 12, 2016, the arbitration court held a hearing on this case.
In December 2016, Wuhan Zhongheng to Shenzhen HUAFA issued a “Commitment Letter” which included that if the arbitration
(Note: the case) ruled in favor of Shenzhen Vanke, the loss of arbitration caused by the contract disputes should be fully assumed by
our company. In the above contingent losses, if the judicial decision ruled your company to pay the compensation in advance, our
company promised to pay your company in cash within one month, if our company could not pay on time due to uncontrollable
factors, our company would like to pay the corresponding interest according to the benchmark interest rate of bank loans in the
corresponding period. Because the plots in the renovation project placed in our company hadn’t been applied for transfer procedures
and were still under your company’s name (Note: based on the “Asset Replacement Contract” signed by Wuhan Zhongheng and
Shenzhen HUAFA on April 29, 2009), therefore, there was no risk of compliance, at the same time, our company promised to give
priority to paying the above compensation with the compensation for demolition of renovation project.
On March 14, 2017, Shenzhen HUAFA received the “Decision of Arbitrator not Granting Avoiding” issued by South China
Arbitration, which rejected the application for avoiding of chief arbitrator proposed by Shenzhen Vanke. On March 15, 2017,
Shenzhen HUAFA received the “Letter About the Resignation of the Chief Arbitrator of No. SHEN DP20160334 Case” signed by
the chief arbitrator and forwarded by South China Arbitration. On March 20, 2017, Shenzhen HUAFA received the “Letter About the
Resignation of the Arbitrator of No. SHEN DP20160334 Case” forwarded by South China Arbitration, the arbitrator selected by
Shenzhen Vanke said to resign from the arbitrator of this case due to physical reasons.
The deadline for giving a ruling to this case was originally scheduled on February 12, 2017. According to the “Decision of
Adjourning the Ruling” issued by South China Arbitration on February 10, 2017, the deadline for giving a ruling to this case shall be
prolonged to May 12, 2017. Due to the changes in the members of above arbitration court, this case needs South China Arbitration to
reassign the chief arbitrator and Shenzhen Vanke to reselect the arbitrators. According to the provisions of article 32 of the
Arbitration Rules of South China Arbitration, after constituting the new arbitration court, it shall decide whether all or part of the
hearing procedures that have been carried out before need to be reopened; if the arbitration court decides to reopen all hearing
procedures, then the deadline for giving a ruling shall be calculated from the date that the arbitration court decides to reopen the
hearing procedures. Therefore, the deadline for giving a ruling in this time is likely to be further extended.
(2) For the important contingency not necessary to disclosed by the Company, explained reasons
The Company has no important contingency that need to disclosed
XII. Events after balance sheet date
1. Explanation on other events after balance sheet date
Till end of the financial report disclosed, the Company did not has major events after balance sheet date need to released
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XIII. Principle notes of financial statements of parent company
1. Account receivable
(1) Category of account receivable
In RMB
Closing balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Account receivable
with single
significant amount 5,000,98 5,000,98 5,094,4 5,094,414
48.58% 100.00% 49.05% 100.00%
and withdrawal bad 8.97 8.97 14.36 .36
debt provision
separately
Accounts with single
significant amount
5,292,43 5,292,43 5,292,4 5,292,435
and bad debts 50.12% 100.00% 50.95% 100.00%
5.32 5.32 35.32 .32
provision accrued
individually
10,293,4 10,293,4 10,386, 10,386,84
Total 100.00% 100.00%
24.29 24.29 849.68 9.68
Account receivable with major single amount and withdrawal bad debt provision single at period-end:
√ Applicable □ Not applicable
In RMB
Account receivable Closing balance
( by unit) Account receivable Bad debt provision Accrual ratio Accrual reasons
TCL ACE ELECTRIC
APPLIANCE 1,325,431.75 1,325,431.75 100.00% Un-collectable
(HUIZHOU) CO., LTD
SKYWORTH Multimedia
579,343.89 579,343.89 100.00% Un-collectable
(Shenzhen) Co., Ltd.
Hong Kong Haowei
1,870,887.18 1,870,887.18 100.00% Un-collectable
Industrial Co. Ltd.
Qingdao Haier Parts
1,225,326.15 1,225,326.15 100.00% Un-collectable
Procurement Co., Ltd.
Total 5,000,988.97 5,000,988.97 -- --
Account receivable with bad debt provision withdrawal by method of account age in portfolio:
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深圳中恒华发股份有限公司 2017 年半年度报告全文
□ Applicable √ Not applicable
Withdrawing bad bed provision by percentage of total accounts receivable outstanding in portfolio:
□ Applicable √ Not applicable
Withdrawing bad bed provision by other methods in portfolio:
Accounts with single significant amount and bad debts provision accrued individually at year-end
Debtor Book balance Bad debt amount Accrual ratio Accrual
reasons
Shenzhen Huixin Video Technology Co., Ltd. 381,168.96 381,168.96 100 Un-collectable
Shenzhen Wandelai Digital Technology Co., Ltd. 351,813.70 351,813.70 100 Un-collectable
Shenzhen Dalong Electronic Co., Ltd. 344,700.00 344,700.00 100 Un-collectable
Shenzhen Keya Electronic Co., Ltd. 332,337.76 332,337.76 100 Un-collectable
Yuehai International Shipping International Co., Ltd. 323,405.97 323,405.97 100 Un-collectable
Shenzhen Qunping Electronic Co., Ltd. 304,542.95 304,542.95 100 Un-collectable
China Galaxy Electronics (Hong Kong) Co., Ltd. 288,261.17 288,261.17 100 Un-collectable
Dongguan Weite Electronic Co., Ltd. 274,399.80 274,399.80 100 Un-collectable
Hong Kong New Century Electronics Co., Ltd. 207,409.40 207,409.40 100 Un-collectable
Shenyang Beitai Electronic Co., Ltd. 203,304.02 203,304.02 100 Un-collectable
Beijing Xinfang Weiye Technology Co., Ltd. 193,000.00 193,000.00 100 Un-collectable
TCL ELECTRONICS (HONG KONG) CO., LTD. 145,087.14 145,087.14 100 Un-collectable
Huizhou TCL Xinte Electronics Co., Ltd. 142,707.14 142,707.14 100 Un-collectable
Shenzhen Sky Worth – RGB Electronic Co., Ltd. 133,485.83 133,485.83 100 Un-collectable
Other 1,666,811.48 1,666,811.48 100 Un-collectable
Total 5,292,435.32 5,292,435.32
(2)Bad debt provision accrual, switch-back or taken back in the period
Bad debt provision accrual was 0.00 Yuan; the amount collected or switches back amounting to 93,425.39 Yuan.
Including major amount of bad debt provision that switch-back or taken back in the Period:
In RMB
Company Amount switch back or taken back Collection way
(3)Account receivable actually charge off in the period
In RMB
Item Amount charge off
Including major account receivable charge off:
In RMB
Account receivable Charge off Account arising from
Company Amount charge off Reasons
nature procedures related transactions
119
深圳中恒华发股份有限公司 2017 年半年度报告全文
(Y/N)
Explanation on account receivable charge off
(4)Top five receivables collected by arrears party at ending balance
Company Closing balance Ratio in total account receivable (%) Balance of bad debt
provision
Hong Kong Haowei Industrial Co. Ltd. 1,870,887.18 18.18 1,870,887.18
TCL ACE ELECTRIC APPLIANCE 1,325,431.75 12.88 1,325,431.75
(HUIZHOU) CO., LTD
Qingdao Haier Parts Procurement Co., Ltd. 1,225,326.15 11.90 1,225,326.15
SKYWORTH Multimedia (Shenzhen) Co., Ltd. 579,343.89 5.63 579,343.89
Shenzhen Huixin Video Technology Co., Ltd. 381,168.96 3.70 381,168.96
Total 5,382,157.93 52.29 5,382,157.93
(5)Account receivable derecognition due to financial assets transfer
(6)Assets and liabilities resulted by account receivable transfer and continues involvement
Other explanation:
2. Other account receivable
(1)Category of other account receivable
In RMB
Closing balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Other account
receivable with
single significant 121,553, 10,601,6 110,951,4 123,637 10,601,68 113,035,81
92.85% 57.23% 93.25% 57.23%
amount and 144.31 86.53 57.78 ,504.36 6.53 7.83
withdrawal bad debt
provision separately
Other account
receivable with bad 1,378,58 13,050.4 1,365,536 965,485
1.05% 0.07% 0.73% 13,050.45 0.07% 952,435.34
debt provision 6.91 5 .46 .79
accrual by portfolio
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深圳中恒华发股份有限公司 2017 年半年度报告全文
Other account
receivable with
single minor amount 7,988,48 7,909,68 7,988,4 7,909,685
6.10% 42.70% 78,798.40 6.02% 42.70% 78,798.40
but withdrawal single 4.16 5.76 84.16 .76
item bad debt
provision
130,920, 18,524,4 112,395,7 132,591 18,524,42 114,067,05
Total 100.00% 100.00% 100.00% 100.00%
215.38 22.74 92.64 ,474.31 2.74 1.57
Other account receivable with major single amount and withdrawal bad debt provision single at period-end:
√ Applicable □ Not applicable
In RMB
Closing balance
Other account receivable
Other account
(units) Bad debt provision Accrual ratio Accrual reasons
receivable
Hengfa Technology
97,326,031.14 Without bad debt risks
Company
Shenzhen Jifang
12,096,000.00 Without bad debt risks
Investment Co., Ltd.
Shenzhen Jifang
1,268,800.00 380,640.00 30.00% Partially recyclable
Investment Co., Ltd.
Huafa Lease Company 4,558,859.15 4,558,859.15 100.00% Un-collectable
Portman 4,021,734.22 4,021,734.22 100.00% Un-collectable
Wuwu Branch of
Shenzhen Dachong 641,266.64 Without bad debt risks
Industrial Co., Ltd.
Zhao Baomin 564,646.35 564,646.35 100.00% Un-collectable
Traffic accident
555,785.81 555,785.81 100.00% Un-collectable
compensation
Hebei Botou Court 520,021.00 520,021.00 100.00% Un-collectable
Total 121,553,144.31 10,601,686.53 -- --
Other account receivable with bad debt provision withdrawal by method of account age in portfolio:
√ Applicable □ Not applicable
In RMB
Closing balance
Account age
Other account receivable Bad debt provision Accrual ratio
Sub-item of within one year
Subtotal of within one year 1,237,932.91
1-2 year 44,299.00 2,214.95 5.00%
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深圳中恒华发股份有限公司 2017 年半年度报告全文
2-3 year 90,355.00 9,035.50 10.00%
Over three years 6,000.00 1,800.00 30.00%
Total 1,378,586.91 13,050.45
Explanation on portfolio basis:
Withdrawing bad bed provision by percentage of total accounts receivable outstanding in portfolio:
□ Applicable √ Not applicable
Withdrawing bad bed provision by other methods in portfolio:
√ Applicable □ Not applicable
Other account receivable with single minor amount but withdrawal single item bad debt provision at year-end
Debtor Book balance Bad debt Accrual ratio (%) Accrual
amount reasons
Jiantao (Fogang) Laminates Co., Ltd. 465,528.10 465,528.10 100 Un-collectab
le
Shenzhen Lotus Island Restaurant Co., Ltd. 236,293.80 236,293.80 100 Un-collectab
le
Shenzhen Mingli Co., Ltd. 170,394.84 170,394.84 100 Un-collectab
le
China Great Wall Computer Shenzhen 168,436.33 168,436.33 100 Un-collectab
Company Limited le
Shenzhen Hongya Electronic Co., Ltd. 156,390.00 156,390.00 100 Un-collectab
le
Shangxi Shengyi Technology Co., Ltd. 156,239.32 156,239.32 100 Un-collectab
le
Changchun Artificial Resin Co., Ltd. 147,486.96 147,486.96 100 Un-collectab
le
Shenzhen Xinlan Technology Co., Ltd. 138,038.00 138,038.00 100 Un-collectab
le
Fujian Zhangzhou Weili Electronic 112,335.62 112,335.62 100 Un-collectab
Enterprise Co., Ltd. le
Chuangjing Studio 192,794.00 192,794.00 100 Un-collectab
le
Individuals borrow 1,799,073.12 1,799,073.12 100 Un-collectab
le
Labor union 332,402.55 332,402.55 100 Un-collectab
le
Staff canteen etc. 856,753.66 856,753.66 100 Un-collectab
le
Other 2,977,519.46 2,977,519.46 100 Un-collectab
le
Shenzhen Poly Property Group Co., Ltd. 78,798.40
Total 7,988,484.16 7,909,685.76 —— ——
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深圳中恒华发股份有限公司 2017 年半年度报告全文
(2)Bad debt provision accrual, switch-back or taken back in the period
Bad debt provision accrual was 0.00 Yuan; the amount collected or switches back amounting to 0.00 Yuan.
Including major amount of bad debt provision that switch-back or taken back in the Period:
In RMB
Company Amount switch-back or taken back Collection way
Nil
(3)Other account receivable actually charge off in the period
In RMB
Item Amount charge off
Including major other account receivable charge off:
In RMB
Account arising from
Other account Charge off
Company Amount charge off Reasons related transactions
receivable nature procedures
(Y/N)
Other account receivable charge off:
Nil
(4)Other account receivable classify according to nature
In RMB
Nature Ending book balance Opening book balance
Margin deposit 720,065.04 720,065.04
Borrow money 1,687,485.10 2,570,694.91
Intercourse funds 109,015,166.21 123,104,890.35
Rent revenue 19,466,609.05 6,195,824.01
Other 30,889.98
Total 130,920,215.38 132,591,474.31
(5)Top 5 other receivables collected by arrears party at ending balance
In RMB
Proportion in total
Ending balance of
Company Nature Closing balance Account age other receivables at
bad debt provision
year-end
123
深圳中恒华发股份有限公司 2017 年半年度报告全文
Hengfa Technology
Intercourse funds 97,326,031.14 Within 1 year 74.34%
Company
Shenzhen Jifang Lease receivable
13,364,800.00 Within 1 year 10.21% 380,640.00
Investment Co., Ltd. etc.
Huafa Lease
Intercourse funds 4,558,859.15 Over three years 3.48% 4,558,859.15
Company
Lease receivable
Portman 4,021,734.22 Over three years 3.07% 4,021,734.22
etc.
Wuwu Branch of
Shenzhen Dachong Leasing margin 641,266.64 Within 1 year 0.49%
Industrial Co., Ltd.
Total -- 119,912,691.15 -- 91.59% 8,961,233.37
3. Long-term equity investment
In RMB
Closing balance Opening balance
Item Depreciation Depreciation
Book balance Book value Book balance Book value
reserves reserves
Investment for
187,208,900.00 600,000.00 186,608,900.00 187,208,900.00 600,000.00 186,608,900.00
subsidiary
Total 187,208,900.00 600,000.00 186,608,900.00 187,208,900.00 600,000.00 186,608,900.00
(1)Investment for subsidiary
In RMB
Current accrual of Closing balance
Increase during Decrease during
Invested unit Opening balance Closing balance the depreciation of depreciation
the period this period
reserves reserves
Huafa Lease
600,000.00 600,000.00 600,000.00
Company
Huafa Property
1,000,000.00 1,000,000.00
Company
Hengfa
Technology 183,608,900.00 183,608,900.00
Company
Huafa Trade
0.00
Company
Huafa Hengtian 1,000,000.00 1,000,000.00
124
深圳中恒华发股份有限公司 2017 年半年度报告全文
Company
Huafa Hengtai
1,000,000.00 1,000,000.00
Company
Total 187,208,900.00 187,208,900.00 600,000.00
4. Operating income and operating cost
In RMB
Current Period Last Period
Item
Income Cost Income Cost
Other business 19,368,319.99 2,104,257.94 21,050,313.65 2,177,884.29
Total 19,368,319.99 2,104,257.94 21,050,313.65 2,177,884.29
Other explanation:
XIV. Supplementary Information
1. Current non-recurring gains/losses
√ Applicable □ Not applicable
In RMB
Item Amount Note
Gains/losses from the disposal of
-33,321.94
non-current asset
Governmental subsidy reckoned into current
gains/losses (not including the subsidy
enjoyed in quota or ration according to 802,269.68
national standards, which are closely
relevant to enterprise’s business)
Other non-operating income and expenditure
123,413.20
except for the aforementioned items
Less: impact on income tax 223,090.23
Total 669,270.71 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable
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深圳中恒华发股份有限公司 2017 年半年度报告全文
2. REO and earnings per share
Earnings per share
Profits during report period Weighted average ROE
Basic EPS (RMB/Share) Diluted EPS (RMB/Share)
Net profits belong to common stock
0.67% 0.0076 0.0076
stockholders of the Company
Net profits belong to common stock
stockholders of the Company after
0.46% 0.0052 0.0052
deducting nonrecurring gains and
losses
126
深圳中恒华发股份有限公司 2017 年半年度报告全文
Section XI. Documents available for reference
I. Text of the Semi-Annual Report caring signature of the Chairman;
II. Financial statement carrying the signatures and seals of the person in charge of the Company, principal of the
accounting works and person in charge of accounting organ;
III. All documents of the Company and manuscripts of public notices that disclosed in the China Securities
Journal, Securities Times and Hong Kong Commercial Daily designated by CSRC in the report period;
IV. Article of Association
V. Other relevant files.
127
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