山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Shandong Zhonglu Oceanic Fisheries Co., Ltd.
Semi-Annual Report for Year of 2017
August 2017
1
山东省中鲁远洋渔业股份有限公司 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 Shandong Zhonglu Oceanic Fisheries 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.
Chi Weizhen, Principal of the Company, Yue Juan, person in charge of
accounting works and Lei Lixin, person in charge of accounting organ
(accounting principal) hereby confirm that the Financial Report of Semi-
Annual Report 2017 is authentic, accurate and complete.
All directors are attended the Board Meeting for report deliberation.
China Securities Journal, Hong Kong Commercial Daily and Juchao Website
(www.cninfo.com.cn) are the media for information disclosure appointed by the
Company, all information under the name of the Company disclosed on the
above said media shall prevail, and Investors are advised to exercise caution of
investment risks.
The Company has no plans of cash dividend distributed, no bonus shares and
has no share converted from capital reserve either
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山东省中鲁远洋渔业股份有限公司 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 Business ............................................................................ 11
Section V Important Events ............................................................................................................ 19
Section VI Changes in shares and particular about shareholders……………………………...24
Section VII Preferred Stock ............................................................................................................ 29
Section VIII Particulars about Directors, Supervisors and Senior Executives .......................... 30
Section IX Corporate Bond ............................................................................................................. 32
Section X Financial Report ............................................................................................................. 32
Section XI Documents available for reference ............................................................................ 133
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Paraphrase
Items Refers to Contents
“The Company” or “Company” Refers to Shandong Zhonglu Oceanic Fisheries Co., Ltd.
"Shandong State-owned Assets Investment" Refers to Shandong State-owned Assets Investment Holding Company Limited
"Luxin Group" Refers to Shandong Luxin Investment Holding Company Limited
State-owned Assets Supervision and Administration Commission of
"SASACP" Refers to
Shandong Provincial Government
“CSRC” Refers to China Securities Regulatory Commission
“The report” Refers to Semi-Annual Report for 2017 compiled by the Company
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山东省中鲁远洋渔业股份有限公司 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 Zhonglu-B Stock code 200992
Stock exchange for listing Shenzhen Stock Exchange
Name of the Company (in
山东省中鲁远洋渔业股份有限公司
Chinese)
Short form of the Company
中鲁远洋
(in Chinese)
Foreign name of the Company
Shandong Zhonglu Oceanic Fisheries Company Limited
(if applicable)
Short form of foreign name of
ZLYY
the Company (if applicable)
Legal representative Chi Weizhen
II. Person/Way to contact
Secretary of the Board Rep. of security affairs
Name Li Ming Li Ying
No.65 Haier Road, Laoshan District, No.65 Haier Road, Laoshan District,
Contacts add.
Qingdao, Shandong Province Qingdao, Shandong Province
Tel. 0532-55717968 0532-55715968
Fax. 0532-55719258 0532-55719258
Email ZL000992@163.com ZL000992@163.com
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
Registration address No.29 Miapling Road, Laoshan District, Qingdao, Shandong Province
Code of the registration address 266061
CMB Fortune Building, No. 65 Haier Road, Laoshan District, Qingdao,
Office address
Shandong Province
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Code of the office address 266061
Website www.zofco.cn
e-mail ZL000992@163.com
Date for extraordinary notice inquiry on
2017-04-29
appointed website (if applicable)
Index for extraordinary notice inquiry on
www.cninfo.com.cn
appointed website (if applicable)
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
Increase/decrease in this
Current period Same period of last year
report y-o-y
Operating revenue (RMB) 440,178,091.75 407,890,793.78 7.92%
Net profit attributable to shareholders of
32,001,590.86 11,560,370.58 176.82%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting 31,391,015.10 8,143,813.27 285.46%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
17,876,156.54 16,233,581.58 10.12%
activities(RMB)
Basic earnings per share (RMB/Share) 0.12 0.04 200.00%
Diluted earnings per share (RMB/Share) 0.12 0.04 200.00%
Weighted average ROE 5.05% 2.02% 3.03%
Increase/decrease in this
End of current period End of last period report-end over that of last
period-end
Total assets (RMB) 1,006,752,497.95 835,239,699.07 20.53%
Net assets attributable to shareholder of
650,018,587.56 617,662,263.72 5.24%
listed company(RMB)
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
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 has no 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) in reporting period
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 has no difference of the net profit and net assets disclosed in financial report, under both foreign accounting rules and
Chinese GAAP (Generally Accepted Accounting Principles) in reporting period
VI. Items and amounts of extraordinary profit (gains)/loss
√Applicable □Not applicable
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset (including the
262,376.43 Revenue from vehicles disposal
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 Subsidy for construction of the
433,402.16
national standards, which are closely relevant to enterprise’s Blue Economic Zone
business)
Other non-operating income and expenditure except for the
-85,202.83
aforementioned items
Total 610,575.76 --
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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山东省中鲁远洋渔业股份有限公司 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
The Company is a comprehensive fishery enterprise integrated with ocean-going fishing, ocean refrigerated
transport, and refrigeration, processing and trading of aquatic products, main business of the Company are as:
1. Ocean-going fishing
During the reporting period, the company has owned a total of 22 vessels for ocean-going fishing, including 7
large-scale tuna seiners, 13 large ultra-low temperature tuna long liners, and 2 medium-sized trawlers, which have
been respectively working in the Indian Ocean, and Ghana sea area in the Atlantic Ocean. During the reporting
period, the pattern of world's tuna resources have been changing, some fishery resources decline sharply, the
company has adhered to the principle of combining deploying and retracting, operated scientifically, deployed
reasonably, and positively implemented offshore production based on the fishing characteristics and the actual
situation of offshore production.
2. Refrigerated transport
During the reporting period, the company had 7 ocean cold-storage boats for operation service and took various
measures to complete the annual economic indicators. The first was to stand on the special refrigerated shipping
market, conform to the market demands, expand the navigation area, increase the transport capacity, and strive to
enhance the market share. The second was to strictly control the cost accounting, and ensure all expenses,
especially the overwhelming expenses were under surveillance all the time. The third was to take account of the
non-operating income, especially focus on the exchange rate trend of US dollar against RMB, so as to make
foreign exchange settlement at the appropriate time. The fourth was to strengthen the risk management and control,
and minimize the risk factors of uncertainties. The fifth was to increase the self-repair efforts to ships and achieve
good results in both benefits and technology.
3. Refrigeration processing trade
During the reporting period, the company’s refrigeration processing trade had a foothold on “two markets”, the
first was to insist on internal absorption and external introduction, give full play to advantages of industrial
clusters, resist the risks and face the market development together with fishing industry, strengthen efforts to the
return shipping and deep processing of tuna, form a processing industry chain by centering on Zhonglu food, and
give a real play to the distributing centre as the deep-processing of deep-sea fishing products and cold-chain
logistics base in Shandong Province and the tuna trading center of China, and had far-reaching significance to
refine and strengthen the tuna industry chain. The second was to focus on improving the automatic mechanization
level of processing, strive to improve the automatic mechanization level of important processes and key processes
in the production, which increased the production capacity, reduced the waste of raw materials, stabilized the
product quality and reduced the operating costs. The third was to expand the processing business, and increase the
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
market development efforts.
II. Major changes in main assets
1. Major changes in main assets
Major assets Note of major changes
Equity assets No major change.
Fixed assets No major change.
Intangible assets No major change.
Increased 148,802,700 Yuan over that of period-begin, with 3558.78% up. Mainly
Construction in progress because subsidiary(Zhonglu Haiyan Branch) purchased five tuna seines in the period, the
vessels are in handling procedures without transferred to assets yet
2. Main overseas assets
√Applicable □Not applicable
Control Ratio of the Whether has
measures to overseas major
Operating Earnings
Content Reasons Assets scale Location ensure the assets in net impairment
mode status
safety of assets of the risks or not
assets Company (Y/N)
HABITAT
INTERNATI Vessels and
Wholly-owne 201,546,332. Independent 9,511,909.83
ONAL Panama crew 31.00% N
d subsidiary 32 Yuan operation Yuan
CORPORATI insurance
ON
III. Core competitive-ness analysis
Whether or not the Company complies with disclosure requirement of the special industry
No
As a comprehensive fishery enterprise, the company's core competitiveness is mainly reflected in the following
aspects: Firstly, the company is a comprehensive fishery enterprise integrating deep-sea fishing, refrigerated
transport, and refrigeration and processing and trading of aquatic products, its main business involves all key links
of industry chain, and the businesses among all operating entities are highly related, possess the conditions for
overall collaborative operation, and provides guarantee for strengthening and extending the industrial chain
strategy; secondly, as one of the enterprises engaged in deep-sea fishing business at the earliest in China, the
company starts the production and operation early with high starting point, and high-quality talents and assets.
After more than ten years of professional management, we have a professional talent echelon and favorable
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
operation management team, in aspect of vary field of the business in the Company. For both vessel numbers,
gross tonnage and profitability of current refrigerated transport fleet, the Company occupies the national leading
level. We owns biggest super-low temperature cold storage and raw food processing factory in China. The
advantage of tuna processing and trading ability are being strengthen by the Tuna Trading Center and new Tuna
E-Trading Platform System; and the 30000 tons variable-temperature cold storage and supporting facilities in
Yantai tide refrigerated logistic center adopted many new technology, initiate cold storage establishment in China,
and it lay out a foundation of the indusrial development of on-land business for the Company in future; Thirdly,
deep-sea fishing, as the company's main business, is a constituent part of China’s ocean strategy and the blue
economic zone plan of Shandong Province to which the central government and governments at all levels pay
high attention, and policy advantages are the important strategic resource for an enterprise’s development and
expansion. Our country implements a number of preferential policies for the development of deep-sea fishing for a
long term. In May 2017, the company headquarters removed from Jinan to Qingdao, as the leading enterprise in
deep-sea fishing industry of Shandong Province, and under the strong supports of various supportive policies of
the national, provincial and municipal governments, the company will usher in new development opportunities;
furthermore, Ghana purse seine project which belongs to the company’s subsidiary – Zhonglu Haiyan Company
has purchased five large tuna purse-seine boats from overseas, plus the previous two seine boats, the purse seine
tuna production will be greatly increased so as to promote the development of the company’s main business.
The above mentioned factors were provided a powerful strategic support for the development of the Company; the
Company will make good use of these strategic resources, creating innovative to accelerate the strategic
transformation, and vigorously implement the industrial chain extension projects to upgrade the influence and
completive in deep-sea fishing market in and out of China.
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Section IV Discussion and Analysis of Business
I. Introduction
During the reporting period, the company faced the severe and complex economic environment, the changing
market forms and the great pressure from the adjustment and development of the enterprise. The company closely
focused on the goal of “promoting the rapid, harmonious and healthy development of enterprise”, closely stuck to
the business positioning of “one body with two wings, integrative development”, insisted on the development
ideas of taking the deep-sea fishing as the subject and the refrigerated transport and refrigerated processing trade
as the wings, vigorously developed the deep-sea fishing business, consolidated and improved the refrigerated
transport business, actively expanded the domestic and foreign processing business, and achieved good results.
(i) Review of the company’s main business in the report period
1. Refrigerated transport leasing section: took "safety is efficiency, promote development by safety" as the
long-term guiding ideology, avoided the occurrence of ship accident, guaranteed the ships’ navigation days, while
increased the self repair of ships, which not only saved costs, but also built up, trained and improved the technical
level of the company's professionals, achieved operating income of 50,007,800 Yuan, an increase of 11.63% on a
year-on-year basis; achieved net profits of 11,830,500 Yuan, an increase of 35.48% on a year-on-year basis.
2. Ocean-going fishing section: as the company timely refurbished the two seines and realized the transitions from
the Pacific to the Atlantic, it achieved net profits of RMB 3,424,100. By strengthening cost management,
reasonably arranging the production and scientifically scheduling fishery, the Tuna long line fishing business
achieved net profits of RMB 13,898,900, an increase of 1627.86% on a year-on-year basis.
3. Aquatic products refrigerated processing trade section: committed to the development of new products,
increased the exports, overcame the unfavorable factors such as the shortage of supply of goods, rise in raw
material prices and so on, during the reporting period, the company achieved operating income of RMB
344,245,500, an increase of 6.17% on a year-on-year basis, net profits of RMB 10,567,200, an increase of 2.97%
on a year-on-year basis.
(ii) General operation
In first half of 2017 (Jan. –Jun.), the Company achieved operation revenue of 440.1781 million Yuan, increased
7.92% compared last year’s 407.8908 million Yuan; operation costs achieved 378.3674 million Yuan, decreased
1% over that of 382.1970 million Yuan in last period; net profit attributable to parent company amounted as
32.0016 million Yuan, an 176.82% growth over that of 11.5604 million Yuan at last year.
II. Main business analysis
See “I. Introduction” in “Discussion and Analysis of Business”.
y-o-y change of main financial data
In RMB
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Current period Same period of last year Y-o-y increase/decrease Reasons for changes
Operation revenue 440,178,091.75 407,890,793.78 7.92%
Operation cost 378,367,434.21 382,196,992.60 -1.00%
Sales business of purse
Sales expenses 4,081,303.48 2,738,457.38 49.04%
seiner increased
Administrative expenses 16,193,699.81 14,381,558.82 12.60%
The Company has major
ratio of short-term loans
Financial cost 6,517,713.00 -804,850.82 909.80% in the period, the net
income from exchange
declined sharply.
Taxable profit from
Income tax expense 453,724.36 264,529.60 71.52% Zhonglu Yantai (Food)
Co., Ltd. increased
The capital used for
purchasing raw material
Net cash flow arising
17,876,156.54 16,233,581.58 10.12% of the purse seiner are
from operation activities
major than the account
collection in the period
Purchased five purse
Net cash flow arising
seiner from Zhonglu
from investment -153,617,939.11 -3,166,006.13 -4,752.10%
Haiyan Company in the
activities
period
Purchased five purse
Net cash flow arising seiner vessels have
110,437,409.49 -8,804,287.01 1,354.36%
from financing activities supporting entrusted
loans financing
Net increase of cash and More investment input in
-26,636,709.82 7,344,317.84 -462.68%
cash equivalent the 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
Increase or Increase or Increase or
decrease of decrease of decrease of gross
Operating
Operating cost Gross profit ratio operating revenue operating cost profit ratio over
revenue
over same period over same period same period of
of last year of last year last year
According to industries
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Seine tuna fishing 28,960,517.15 22,165,361.29 23.46% 2,447.18% 343.48% 363.06%
Long lines tuna
74,325,384.96 55,460,775.11 25.38% 93.33% 52.74% 19.83%
fishing
Boat rental 50,007,780.12 33,202,808.42 33.60% 11.63% -9.00% 15.05%
Other deep-sea
3,527,909.01 4,491,479.15 -27.31% -37.76% -18.14% -30.52%
fishing
Refrigeration
processing trade
342,272,267.26 325,597,261.33 4.87% 9.40% 9.24% 3.11%
of the aquatic
products
According to products
Seine tuna fishing 28,960,517.15 22,165,361.29 23.46% 2,447.18% 343.48% 363.06%
Long lines tuna
74,325,384.96 55,460,775.11 25.38% 93.33% 52.74% 19.83%
fishing
Boat rental 50,007,780.12 33,202,808.42 33.60% 11.63% -9.00% 15.05%
Other deep-sea
3,527,909.01 4,491,479.15 -27.31% -37.76% -18.14% -30.52%
fishing
Refrigeration
processing trade
342,272,267.26 325,597,261.33 4.87% 9.40% 9.24% 3.11%
of the aquatic
products
According to region
Taiwan China 97,234,078.43 76,912,295.19 20.90% 84.51% 37.58% 12.00%
Mainland China 190,335,025.22 164,240,856.00 13.71% 31.79% 17.83% 7.15%
Garner 5,271,429.19 4,922,982.63 6.61% -7.00% -11.45% 3.40%
Japan 159,098,228.43 150,685,110.15 5.29% 9.90% 7.13% 1.95%
Thailand 8,674,022.26 6,006,710.80 30.75%
Singapore 5,760,273.67 5,534,183.74 3.92% -11.08% -10.40% -0.60%
South Korea 12,712,185.67 12,212,600.32 3.93% -71.26% -69.13% -1.19%
Other 16,480,706.62 15,911,467.32 3.45% -64.94% -64.72% -0.13%
III. Analysis of the non-main business
□Applicable √Not applicable
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
IV. Assets and liability
1. Major changes of assets composition
In RMB
End of current period End of last period
Ratio
Ratio in total Ratio in total Notes of major changes
Amount Amount changes
assets assets
102,884,493.4
Monetary fund 10.22% 79,772,739.78 9.63% 0.59%
7
Account
41,823,925.36 4.15% 41,627,611.45 5.02% -0.87%
receivable
211,862,695.2
Inventory 21.04% 204,322,596.29 24.65% -3.61%
4
Investment real
32,309,303.25 3.21% 32,947,724.94 3.98% -0.77%
estate
Long term equity
0.00%
investment
399,550,767.0
Fixed assets 39.69% 414,357,638.71 50.00% -10.31% Accrual of the depreciation for assets
1
Construction in 152,869,726.8 The new purse seiner purchased in the
15.18% 9,928,188.11 1.20% 13.98%
progress 1 period did not transfer to fix assets yet
Short-term 168,666,366.6 More short-term loans from the bank in
16.75% 40,991,679.09 4.95% 11.80%
borrowing 1 the period
2. Assets and liability measure by fair value
□ Applicable √ Not applicable
3. Assets right restriction till end of reporting period
Found more in 77 of the Note in consolidation statement
V. Investment
1. Overall situation
√Applicable □ Not applicable
Amount invested (RMB) Last period’s amount (RMB) Changes
162,425,625.20 0.00 100.00%
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
2. The major equity investment obtained in Reporting Period
□ Applicable √ Not applicable
3. The major non-equity investment doing in Reporting Period
√Applicable □Not applicable
In RMB
Reasons
Earning
Whether Amount of fails Disclos
s Disclos
it is a Amount actual Estimat to the ure
Investme Capital achieve ure date
Investme fixed input in invested Progres ed estimate index
Project nt resource d ended (if
nt way assets the up to s earning d (if
industry s as applica
investme period period-e s earning applica
period-e ble)
nt (Y/N) nd s and ble)
nd
plans
Accordi
ng to
the
Short-ter
general
m loans http://w
progres
Purchased the Acquisiti 162,425, 162,425, from the 2016-12 ww.cni
Y Fishery 98.75% 0.00 0.00 s of the
tuna seine boat on 625.20 625.20 bank and -31 nfo.com
Compa
owned .cn
ny, final
fund
paymen
t still
not paid
162,425, 162,425,
Total -- -- -- -- -- 0.00 0.00 -- -- --
625.20 625.20
4. Financial assets investment
(1) Securities investment
□ Applicable √ Not applicable
The company had no securities investment in the reporting period.
(2) Derivative investment
□ Applicable √ Not applicable
The company had no derivative investment in the reporting period.
15
山东省中鲁远洋渔业股份有限公司 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
Shandong
Zhonglu Processing
Oceanic trade of 364,655,50 173,857,14 344,245,48 10,548,92 10,567,271.8
Subsidiary Fishery 75,593,300
(Yantai) aquatic 3.72 1.26 6.87 0.32 8
Food Co., products
Ltd.
Shandong
Zhonglu
Haiyan High sea 320,393,17 184,389,06 46,126,136. 7,552,899
Subsidiary Fishery 138,731,90 7,776,226.98
Oceanic fishing 5.03 5.81 87 .29
0.00
Fishery Co.,
Ltd.
HABITAT
Transport
INTERNAT
rental of the Transportati 201,546,33 194,294,65 32,462,659. 9,509,870
IONAL Subsidiary 12,476,145. 9,511,909.83
refrigeratio on 2.32 9.09 63 .67
CORPORA 60
n vessels
TION
Shandong
Transport
Zhonglu
rental of the Transportati 22,505,600. 37,456,899. 4,199,339.7 17,545,120. 2,411,078
Fishery Subsidiary 2,318,577.62
refrigeratio on 00 10 9 49 .70
Shipping
n vessels
Co., Ltd.
Particular about subsidiaries obtained or disposed in report period
□ Applicable √ Not applicable
16
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Notes of main holding company and stock-jointly companies
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. Policy change risk
It mainly includes changes in domestic and international fishery policies. The various national supportive policies
to the deep-sea fishing may possibly be adjusted and have impacts on the company’s non-operating income; the
risks of international fishery policies are mainly reflected when there is any change in the fishing access,
investment, and fishery management policies in the fishing access countries and regions, the costs will increase
Countermeasures: pay close attention to changes in domestic and foreign policies, timely make judgments and
corresponding business adjustments, and reduce the losses brought by this risk as much as possible.
2. Resource change risk
At present, the company's main ocean-going fishing operation areas are in the Indian Ocean and the Atlantic
Ocean, the uncertainties of the changes in fishing resources will affect the output and income of the company's
main business.
Countermeasures: take use of fleet scale advantages, increase the grasp and control to the catching season of
existing fisheries; make arrangements for the development and exploration operations to new fishing ground.
3. Cost change risk
As the company's main businesses, both ocean-going fishing and refrigerated transport have risks of fuel price
changes, continuous increase of labor costs, and uncertainties of fishing access costs.
Countermeasures: reduce the relevant costs by scientifically selecting the refueling time and place and the suppliers,
the crew localization, and strengthening the negotiations with the fishing access countries and regions.
4. Exchange rate fluctuation risk
The company’s main business incomes are settled by US dollars, yen and other foreign currencies, and have
exchange rate fluctuation risks.
Countermeasures: pay close attention to the international financial market, rationally use the foreign exchange
receipts and payments, and timely make adjustment and settlement of exchange.
5. Market development risk
The main market for fish sales is single, so the market fluctuations can have great impacts on the company's main
business income.
17
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Countermeasures: further explore the international and domestic markets, especially the domestic market, take the
purpose of “meeting the domestic consumers’ ever-increasing demand for marine high-quality protein” as the
vision, actively discuss and build new domestic trade system, and ensure the healthy and rapid development of
domestic trade business with new systems and mechanisms.
6. New business development risk: the company purchased five large tuna seine boats from overseas, so the new
business management, brand-new fishing fisheries and sales market have uncertain risks.
Countermeasures: strengthen the leadership and coordination, and gather various resources of the Company to
ensure the smooth implementation of the project.
18
山东省中鲁远洋渔业股份有限公司 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
The Resolution of
Annual General
Annual General Meeting 2016
AGM 51.07% 2017-06-15 2017-06-16
Meeting of 2016 (Notice No.:
2017-16) on Juchao
website
2. Request for extraordinary general meeting by preferred stockholders whose voting rights restore
□ Applicable √ Not applicable
II. Profit distribution plan and capitalizing of common reserves plan for the Period
□ Applicable √ Not applicable
The Company has no plans of cash dividend distributed, no bonus shares and has no share converted from capital reserve either for
the year
III. Commitments completed in Period and those without completed till end of the Period from actual
controller, shareholders, related parties, purchaser and companies
□ Applicable √ Not applicable
The Company has no commitments completed in Period and those without completed till end of the Period from actual controller,
shareholders, related parties, purchaser and companies
IV. Appointment and non-reappointment (dismissal) of CPA
Whether the semi-annual financial report had been audited
□Yes √ No
The semi-annual report was not audited
V. Explanation on “Qualified Opinion” from CPA by the Board and Supervisory Committee
□ Applicable √ Not applicable
19
山东省中鲁远洋渔业股份有限公司 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
Material lawsuits and arbitration
□ Applicable √ Not applicable
No material lawsuits and arbitration in the reporting
Other lawsuits
√Applicable□ Not applicable
Amount Progress of Trial Results and Judgment
Basic Situation of Whether Disclosure Disclosure
Related to the Litigation Effects of Implementation
Litigation Formed Accrued Date Index
Case (Yuan) (Arbitration Litigation of Litigation
(Arbitration) Liabilities(Y/N)
) (Arbitration) (Arbitration)
In the process of Jinan
Intermediat
implementing the e People's
loan dispute case Court
rejected the
of Shenzhen Qiwu request of
Wealth Shenzhen
Qiwu
Management Co., Wealth
Ltd. and Shandong Managemen Progress of
t Co., Ltd.
Longkou Aquatic about the Lawsuits
Integrated Co., applying for (Notice No.:
adding
Ltd., the execution Shandong Reject an 2017-15 ;
Zhonglu There is no ruling
applicant 1,936.24 N application, 2017-06-10 No.: 2017-18
Oceanic on reconsideration
Shenzhen Qiwu Fisheries unenforced and No.:
Wealth Co., Ltd. as 2017-19) on
the person
Management Co., subject to Juchao
enforcemen
Ltd. applied for website
t in this
adding the case;
Shenzhen
Company as the
Qiwu
person subject to Wealth
Managemen
enforcement to
t Co., Ltd.
Jinan Intermediate applied for
reconsiderat
People's Court.
ion to
20
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Shandong
Higher
People’s
Court.
IX. Penalty and rectification
□ Applicable √ Not applicable
No penalty and rectification for the Company in reporting period.
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
During the reporting period, the company has no stock incentive plan, employee stock ownership plan or other employee incentives
that have not been implemented.
XII. Material related transactions
1. Related transaction with daily operation concerned
□ Applicable √ Not applicable
No related transaction with daily operation concerned for the Company in reporting period.
2. Related transactions by assets acquisition and sold
□ Applicable √ Not applicable
No related transactions by assets acquisition and sold for the Company in reporting period.
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 for the Company in reporting period
21
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
5. Other material related transactions
□ Applicable √ Not applicable
No other material related transactions for the Company 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. Major contract and implantation
1. Trusteeship, contract and leasing
(1) Trusteeship
□ Applicable √ Not applicable
The Company had no trusteeship in the reporting period.
(2) Contract
□ Applicable √ Not applicable
The Company had no contract in the reporting period.
(3) Leasing
□ Applicable √ Not applicable
The Company had no leasing in the reporting period.
2. Major guarantee
□ Applicable √ Not applicable
The Company had no guarantee in the reporting period.
3. Other material contracts
□ Applicable √ Not applicable
The Company had no other material contracts in the reporting period.
XV. Social responsibility
1. Targeted poverty alleviation social responsibility
The Company did not has plan of targeted poverty alleviation temporary in first half of 2017, and there is no further plan either
22
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
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
Name of the Notice Released date Website or index for disclosure
Performance Forcast for year of 2016 2017-1-7 http//www.cninfo.com.cn
Notice of the Resignation of Directors 2017-2-18 http//www.cninfo.com.cn
Resolution of 5th session of 6th BOD 2017-3-4 http//www.cninfo.com.cn
Resolution of 4th session of 6th Supervisory Committee 2017-3-4 http//www.cninfo.com.cn
Summary of Annual Report 2016 2017-3-4 http//www.cninfo.com.cn
Notice of Suspension of Important Matters 2017-4-6 http//www.cninfo.com.cn
Performance Forcast for 1Q 2017-4-11 http//www.cninfo.com.cn
Progress of Suspension of Important Matters 2017-4-12 http//www.cninfo.com.cn
Notice of Resumption of Important Matters 2017-4-19 http//www.cninfo.com.cn
Summary of 1Q of 2017 2017-4-29 http//www.cninfo.com.cn
Notice of Change the Office Address, Contact Way and 2017-4-29 http//www.cninfo.com.cn
Logo of the Company
Resolution of 7th session of 6th BOD 2017-5-26 http//www.cninfo.com.cn
Notice of Convening the AGM 2016 2017-5-26 http//www.cninfo.com.cn
Reminder Notice of Convening the AGM 2016 2017-6-9 http//www.cninfo.com.cn
Notice of Lawsuits 2017-6-10 http//www.cninfo.com.cn
Resolution of AGM of 2016 2017-6-16 http//www.cninfo.com.cn
XVII. Significant event of subsidiary of the Company
√ Applicable □ Not applicable
The fourth meeting of the 6th Board of Directors of the Company examined and approved the Proposal on the
Purchase of Tuna Seine Boat Project, agreed the company’s holding subsidiary – Shandong Zhonglu Haiyan
Oceanic Fishery Co., Ltd. to purchase five tuna seine boats with ICCAT registered fishing license. During the
reporting period, RMB 162,425,625.20 was invested, and five boats have been handed over up to the disclosure
date of this report, and one boat has gone to sea for fishing, the maintenance and preparation and operations of
relevant assets of other boats are being processed actively and shall be put into operation.
23
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Section VI. Changes in Shares and Particulars about Shareholders
I. Changes in Shares
1. Changes in Shares
In Share
Before the Change Increase/Decrease in the Change (+, -) After the Change
Capitalizat
New
Bonus ion of
Amount Proportion shares Others Subtotal Amount Proportion
shares public
issued
reserve
128,071,3 128,071,3
I. Unlisted shares 48.13% 48.13%
20 20
128,071,3 128,071,3
1. Sponsor shares 48.13% 48.13%
20 20
Including: State-owned 127,811,3 127,811,3
48.04% 48.04%
shares 20 20
Domestic corporate
260,000 0.10% 260,000 0.10%
shares
138,000,0 138,000,0
II. Listed shares 51.87% 51.87%
00 00
2. Domestically listed 138,000,0 138,000,0
51.87% 51.87%
foreign shares 00 00
266,071,3 266,071,3
III. Total shares 100.00% 100.00%
20 20
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 for the Company or need to disclosed under requirement from security regulators
□Applicable √Not applicable
2. Changes of restricted shares
□ Applicable √ Not applicable
24
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
II. Securities issuance and listing
□ Applicable √ Not applicable
III. Amount of shareholders of the Company and particulars about shares holding
In share
Total preference shareholders
Total common shareholders at with voting rights recovered at
12,053 0
period-end end of reporting period (if
applicable) (see Note 8)
Particulars about shares held above 5% by common shareholders or top ten common shareholders
Amount Amount Number of share pledged/frozen
Number
of of
of
Changes holding holding
common
Nature of Proportion of in unlisted listed
Shareholders shares
shareholder shares held reportin common common Status Amount
held at
g period circulati circulati
period-e
on on
nd
shares shares
Shandong
State-owned
Assets
State-owned 88,000,0 88,000,0
Investment 33.07%
corporate 00 00
Holding
Company
Limited
Shandong
Luxin
Investment State-owned 37,731,3 37,731,3
14.18%
Holding corporate 20 20
Company
Limited
Shenwan
Hongyuan 9,367,59 9,367,59
Overseas corporate 3.52%
Securities (HK) 0 0
Limited
Overseas natural 5,760,42 5,760,42
Chen Tianming 2.16%
person 7 7
GUOTAI
JUNAN 5,331,69 5,331,69
Overseas corporate 2.00%
SECURITIES( 6 6
HONGKONG)
25
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
LIMITED
Haitong
International
Securities 2,180,90 2,180,90
Overseas corporate 0.82%
Company 0 0
Limited-Accou
nt Client
China
Everbright 2,072,00 2,072,00
Overseas corporate 0.78%
Securities 0 0
(H.K.) Co., Ltd.
China National
Heavy Duty
State-owned 1,950,00 1,950,00
Truck Group 0.73%
corporate 0 0
Jinan Truck
LLC.
Wang Overseas natural 1,209,50 1,209,50
0.45%
Dongsheng person 2 2
Domestic nature 1,083,22 1,083,22
Qin Jun 0.41%
person 0 0
Strategy investors or general
corporate becomes top 10 common
Not applicable
shareholders due to rights issued (if
applicable)(Note 3)
Shandong State-owned Assets Investment Holding Co., Ltd and Shandong Luxin Investment
Holding Group Co., Ltd are provincial state-owned enterprises under the same stock controlling of
Shandong Provincial Commission; China National Heavy Duty Truck Group Jinan Truck LLC is
the sponsor shareholder of the Company and the above mentioned shareholders have no
Explanation on associated
associated relationships or not belong to consistent actors regulated by Management
relationship among the aforesaid
Regulation of Information Disclosure on Change of Shareholding for Listed Companies. Rests
shareholders
of the shareholders are the domestically listed foreign shareholders, and t he Company is
unknown whether there exists associated relationship or belongs to consistent actor regulated
by “management method for acquisition of listed company” among the above said
shareholders.
Particulars about the shares held by the top ten circulation common shareholders
Amount of circulated common shares held at Type of shares
Shareholders
period-end Type Amount
Domestically
Shenwan Hongyuan Securities (HK)
9,367,590 listed foreign
Limited
shares
Chen Tianming 5,760,427 Domestically
26
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
listed foreign
shares
GUOTAI JUNAN Domestically
SECURITIES(HONGKONG) 5,331,696 listed foreign
LIMITED shares
Domestically
Haitong International Securities
2,180,900 listed foreign
Company Limited-Account Client
shares
Domestically
China Everbright Securities (H.K.)
2,072,000 listed foreign
Co., Ltd.
shares
Domestically
Wang Dongsheng 1,209,502 listed foreign
shares
Domestically
Qin Jun 1,083,220 listed foreign
shares
Domestically
Yi Ying 1,078,200 listed foreign
shares
Domestically
Huang Jiayi 1,048,687 listed foreign
shares
Domestically
Lin Mingyu 959,501 listed foreign
shares
Expiation on associated relationship
or consistent actors within the top
It is unknown whether the shareholders just mentioned belong to consistent actors or have
10 un-restrict common shareholders
associated relationship or regulated by the Management Regulation of Information Disclosure
and between top 10 un-restrict
on Change of Shareholding for Listed Companies.
common shareholders and top 10
common shareholders
Explanation on top 10 common
shareholders involving margin Not applicable
business (if applicable)(see note4)
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement
dealing in reporting period
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy-back
agreement dealing in reporting period.
27
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
IV. Changes of controlling shareholders or actual controller
Changes of controlling shareholders in reporting period
□ Applicable √ Not applicable
Changes of controlling shareholders had no change in reporting period.
Changes of actual controller in reporting period
□ Applicable √ Not applicable
Changes of actual controller in reporting period had no change in reporting period.
28
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Section VII. Preferred Stock
□ Applicable √ Not applicable
The Company had no preferred stock in the reporting.
29
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Section VIII. 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. Resignation and dismissal of directors, supervisors and senior executives
√Applicable □Not applicable
Name Position held Type Date Cause
Zhao Zhiguo Director Outgoing 2017-06-15 Leave for job change
Sui Jianshi Director Election 2017-06-15 Election on AGM 2016
Sui Jianshi Deputy GM Appointment 2017-03-02 Appointed by 5th session of 6th BOD
30
山东省中鲁远洋渔业股份有限公司 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
31
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Section X. Financial Report
I. Audit reports
Whether the semi-annual report was audited or not
□ Yes √ No
The financial report of this semi-annual report was unaudited
II. Financial statements
Units in Notes of Financial Statements is RMB
1. Consolidated balance sheet
Prepared by: Shandong Zhonglu Oceanic Fisheries Co., Ltd
2017-06-30
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 102,884,493.47 129,521,203.29
Settlement provisions
Capital lent
Financial assets measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes receivable
Accounts receivable 41,823,925.36 42,679,066.65
Accounts paid in advance 9,416,627.12 7,787,603.40
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Interest receivable
Dividend receivable
Other receivables 6,957,211.27 9,384,672.16
Purchase restituted finance asset
32
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Inventories 211,862,695.24 154,636,414.05
Divided into assets held for sale
Non-current asset due within one
year
Other current assets 33,268,828.90 23,748,949.31
Total current assets 406,213,781.36 367,757,908.86
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 property 32,309,303.25 32,338,392.18
Fixed assets 399,550,767.01 415,683,489.86
Construction in progress 152,869,726.81 4,066,989.68
Engineering material
Disposal of fixed asset -15,678.87
Productive biological asset
Oil and gas asset
Intangible assets 12,916,096.12 13,107,393.57
Expense on Research and
Development
Goodwill
Long-term expenses to be
622,977.35
apportioned
Deferred income tax asset
Other non-current asset 2,285,524.92 2,285,524.92
Total non-current asset 600,538,716.59 467,481,790.21
Total assets 1,006,752,497.95 835,239,699.07
Current liabilities:
Short-term loans 168,666,366.61 54,961,454.59
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
33
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Derivative financial liability
Notes payable
Accounts payable 103,110,640.88 59,173,732.88
Accounts received in advance 7,948,258.28 19,940,900.11
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 20,956,213.42 30,612,403.76
Taxes payable 1,183,524.32 1,344,879.85
Interest payable 86,747.10
Dividend payable
Other accounts payable 7,608,658.44 5,221,040.82
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
433,292.74 866,585.48
year
Other current liabilities
Total current liabilities 309,906,954.69 172,207,744.59
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital
securities
Long-term account payable
Long-term wages payable 1,699,751.84 1,699,751.84
Special accounts payable
Projected liabilities
Deferred income 10,572,454.62 10,572,454.62
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 12,272,206.46 12,272,206.46
Total liabilities 322,179,161.15 184,479,951.05
34
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Owner’s equity:
Share capital 266,071,320.00 266,071,320.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 279,998,206.82 279,998,206.82
Less: Inventory shares
Other comprehensive income -310,326.09 -665,059.07
Reasonable reserve
Surplus public reserve 21,908,064.19 21,908,064.19
Provision of general risk
Retained profit 82,351,322.64 50,349,731.78
Total owner’s equity attributable to
650,018,587.56 617,662,263.72
parent company
Minority interests 34,554,749.24 33,097,484.30
Total owner’s equity 684,573,336.80 650,759,748.02
Total liabilities and owner’s equity 1,006,752,497.95 835,239,699.07
Legal Representative: Chi Weizhen
Person in Charge of Accounting: Yue Juan
Person in Charge of Accounting Department: Lei Lixin
2. Balance Sheet of Parent Company
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 10,826,333.59 43,007,956.89
Financial assets measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes receivable
Accounts receivable 10,152,444.68 13,062,916.00
Account paid in advance 6,400,994.97 734,980.49
35
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Interest receivable
Dividends receivable
Other receivables 63,207,947.36 39,910,882.35
Inventories 32,853,149.11 35,431,052.28
Divided into assets held for sale
Non-current assets maturing within
one year
Other current assets 847,311.46 848,434.74
Total current assets 124,288,181.17 132,996,222.75
Non-current assets:
Available-for-sale financial assets
Held-to-maturity investments
Long-term receivables 6,286,413.22 6,078,056.38
Long-term equity investments 204,189,455.23 204,189,455.23
Investment property 32,309,303.25 32,338,392.18
Fixed assets 82,806,461.10 89,752,865.40
Construction in progress
Project materials
Disposal of fixed assets
Productive biological assets
Oil and natural gas assets
Intangible assets 23,204.37 22,566.74
Research and development costs
Goodwill
Long-term deferred expenses 622,977.35
Deferred income tax assets
Other non-current assets 285,524.92 285,524.92
Total non-current assets 326,523,339.44 332,666,860.85
Total assets 450,811,520.61 465,663,083.60
Current liabilities:
Short-term borrowings
Financial liability measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
36
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Notes payable
Accounts payable 5,677,586.89 10,161,960.89
Accounts received in advance 1,448,468.77 2,530,163.00
Wage payable 10,703,006.68 15,154,703.75
Taxes payable 518,656.55 242,626.86
Interest payable
Dividend payable
Other accounts payable 71,745,021.05 81,881,163.31
Divided into liability held for sale
Non-current liabilities due within 1
year
Other current liabilities
Total current liabilities 90,092,739.94 109,970,617.81
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital
securities
Long-term account payable
Long-term wages payable 1,188,790.98 1,188,790.98
Special accounts payable
Projected liabilities
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 1,188,790.98 1,188,790.98
Total liabilities 91,281,530.92 111,159,408.79
Owners’ equity:
Share capita 266,071,320.00 266,071,320.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 279,115,900.17 279,115,900.17
37
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus reserve 19,184,672.34 19,184,672.34
Retained profit -204,841,902.82 -209,868,217.70
Total owner’s equity 359,529,989.69 354,503,674.81
Total liabilities and owner’s equity 450,811,520.61 465,663,083.60
3. Consolidated Profit Statement
In RMB
Item Current Period Last Period
I. Total operating income 440,178,091.75 407,890,793.78
Including: Operating income 440,178,091.75 407,890,793.78
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 406,876,087.35 398,752,608.95
Including: Operating cost 378,367,434.21 382,196,992.60
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
Operating tax and extras 1,705,436.85 240,450.97
Sales expenses 4,081,303.48 2,738,457.38
Administration expenses 16,193,699.81 14,381,558.82
Financial expenses 6,517,713.00 -804,850.82
Losses of devaluation of asset 10,500.00
Add: Changing income of fair
38
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
value(Loss is listed with “-”)
Investment income (Loss is listed
with “-”)
Including: Investment income on
affiliated company and joint venture
Exchange income (Loss is listed
with “-”)
Other income
III. Operating profit (Loss is listed with
33,302,004.40 9,138,184.83
“-”)
Add: Non-operating income 910,977.92 3,426,238.02
Including: Disposal gains of
262,776.33 2,672,766.60
non-current asset
Less: Non-operating expense 300,402.16 9,680.71
Including: Disposal loss of
399.90 9,680.71
non-current asset
IV. Total Profit (Loss is listed with “-”) 33,912,580.16 12,554,742.14
Less: Income tax expense 453,724.36 264,529.60
V. Net profit (Net loss is listed with “-”) 33,458,855.80 12,290,212.54
Net profit attributable to owner’s of
32,001,590.86 11,560,370.58
parent company
Minority shareholders’ gains and
1,457,264.94 729,841.96
losses
VI. Net after-tax of other comprehensive
354,732.98 -182,005.93
income
Net after-tax of other comprehensive
income attributable to owners of parent 354,732.98 -182,005.93
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
39
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
(II) Other comprehensive income
items which will be reclassified 354,732.98 -182,005.93
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 354,732.98 -182,005.93
financial statements
6. Other
Net after-tax of other comprehensive
income attributable to minority
shareholders
VII. Total comprehensive income 33,813,588.78 12,108,206.61
Total comprehensive income
32,356,323.84 11,378,364.65
attributable to owners of parent Company
Total comprehensive income
1,457,264.94 729,841.96
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.12 0.04
(ii) Diluted earnings per share 0.12 0.04
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: Chi Weizhen
Person in Charge of Accounting: Yue Juan
Person in Charge of Accounting Department: Lei Lixin
40
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
4. Profit Statement of Parent Company
In RMB
Item Current Period Last Period
I. Operating income 59,539,271.88 14,143,001.64
Less: Operating cost 43,838,067.27 17,632,539.08
Operating tax and extras 452,021.58 239,862.47
Sales expenses 2,225,689.69
Administration expenses 8,254,821.34 7,408,255.61
Financial expenses -262,508.81 -697,673.61
Losses of devaluation of asset 10,500.00
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
5,020,680.81 -10,439,981.91
with “-”)
Add: Non-operating income 266,306.33 302,000.00
Including: Disposal gains of
262,576.33
non-current asset
Less: Non-operating expense 260,672.26 7,516.91
Including: Disposal loss of
7,516.91
non-current asset
III. Total Profit (Loss is listed with
5,026,314.88 -10,145,498.82
“-”)
Less: Income tax expense
IV. Net profit (Net loss is listed with
5,026,314.88 -10,145,498.82
“-”)
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
41
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
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
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 5,026,314.88 -10,145,498.82
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
405,702,926.35 405,899,058.35
commodities and providing labor
42
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
services
Net increase of customer deposit
and interbank deposit
Net increase of loan from central
bank
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 34,892,340.04 25,846,875.82
Other cash received concerning
43,104,120.67 37,108,348.64
operating activities
Subtotal of cash inflow arising from
483,699,387.06 468,854,282.81
operating activities
Cash paid for purchasing
commodities and receiving labor 350,844,053.24 326,653,829.29
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
43
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
slip
Cash paid to/for staff and workers 56,040,388.83 51,459,471.79
Taxes paid 4,539,217.08 7,096,981.37
Other cash paid concerning
54,399,571.37 67,410,418.78
operating activities
Subtotal of cash outflow arising from
465,823,230.52 452,620,701.23
operating activities
Net cash flows arising from operating
17,876,156.54 16,233,581.58
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 312,482.88 5,006,095.00
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from investing
312,482.88 5,006,095.00
activities
Cash paid for purchasing fixed,
153,930,421.99 8,087,541.71
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
84,559.42
investing activities
Subtotal of cash outflow from investing
153,930,421.99 8,172,101.13
activities
Net cash flows arising from investing
-153,617,939.11 -3,166,006.13
activities
III. Cash flows arising from financing
activities
44
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Cash received from absorbing
investment
Including: Cash received from
absorbing minority shareholders’
investment by subsidiaries
Cash received from loans 157,501,563.84 19,589,731.78
Cash received from issuing bonds
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
157,501,563.84 19,589,731.78
activities
Cash paid for settling debts 44,521,400.44 27,340,971.72
Cash paid for dividend and profit
2,542,753.91 1,053,047.07
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
47,064,154.35 28,394,018.79
activities
Net cash flows arising from financing
110,437,409.49 -8,804,287.01
activities
IV. Influence on cash and cash
equivalents due to fluctuation in -1,332,336.74 3,081,029.40
exchange rate
V. Net increase of cash and cash
-26,636,709.82 7,344,317.84
equivalents
Add: Balance of cash and cash
128,737,661.78 72,428,421.94
equivalents at the period -begin
VI. Balance of cash and cash
102,100,951.96 79,772,739.78
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:
45
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Cash received from selling
commodities and providing labor 16,987,592.08 37,549,036.30
services
Write-back of tax received
Other cash received concerning
25,919,003.74 1,957,724.04
operating activities
Subtotal of cash inflow arising from
42,906,595.82 39,506,760.34
operating activities
Cash paid for purchasing
commodities and receiving labor 15,123,541.05 8,146,479.78
service
Cash paid to/for staff and workers 14,657,227.96 12,905,058.54
Taxes paid 315,684.06 3,364,550.60
Other cash paid concerning
44,713,882.83 42,287,457.92
operating activities
Subtotal of cash outflow arising from
74,810,335.90 66,703,546.84
operating activities
Net cash flows arising from operating
-31,903,740.08 -27,196,786.50
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 287,282.88
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from investing
287,282.88
activities
Cash paid for purchasing fixed,
543,090.00 125,056.87
intangible and other long-term assets
Cash paid for investment
Net cash received from
46
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
subsidiaries and other units
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
543,090.00 125,056.87
activities
Net cash flows arising from investing
-255,807.12 -125,056.87
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
investment
Cash received from loans
Cash received from issuing bonds
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
activities
Cash paid for settling debts 1,900,000.00
Cash paid for dividend and profit
15,856.43
distributing or interest paying
Other cash paid concerning
financing activities
Subtotal of cash outflow from financing
1,915,856.43
activities
Net cash flows arising from financing
-1,915,856.43
activities
IV. Influence on cash and cash
equivalents due to fluctuation in -22,076.10 -4,836.22
exchange rate
V. Net increase of cash and cash
-32,181,623.30 -29,242,536.02
equivalents
Add: Balance of cash and cash
43,007,956.89 40,612,855.17
equivalents at the period -begin
VI. Balance of cash and cash
10,826,333.59 11,370,319.15
equivalents at the period -end
7. Statement of Changes in Owners’ Equity (Consolidated)
This Period
47
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
In RMB
This Period
Owners’ equity attributable to parent company
Other
equity instrument
Item Less: Other Provisio Minorit Total
Perpet Reason
Capital Invento compre Surplus n of Retaine y owners’
Share Prefer ual able
capita reserve ry hensive reserve general d profit interests equity
red Other reserve
l shares income risk
stock
securi
ties
266,07
I. Balance at the 279,998 -665,05 21,908, 50,349, 33,097, 650,759
1,320.
end of the last year ,206.82 9.07 064.19 731.78 484.30 ,748.02
00
Add:
Changes of
accounting policy
Error
correction of the
last period
Enterprise
combine under
the same control
Other
II. Balance at the 266,07 279,998 -665,05 21,908, 50,349, 33,097, 650,759
beginning of this 1,320.
,206.82 9.07 064.19 731.78 484.30 ,748.02
year 00
III. Increase/
Decrease in this 354,732 32,001, 1,457,2 33,813,
year (Decrease is .98 590.86 64.94 588.78
listed with “-”)
(i) Total 354,732 32,001, 1,457,2 33,813,
comprehensive
.98 590.86 64.94 588.78
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
48
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
payment
4. Other
(III) Profit
distribution
1. Withdrawal of
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 266,07 279,998 -310,32 21,908, 82,351, 34,554, 684,573
end of the report 1,320.
,206.82 6.09 064.19 322.64 749.24 ,336.80
period 00
Last Period
In RMB
Last Period
Owners’ equity attributable to the parent Company
Minorit
Item Other Less: Other Provisio Total
Reason y
Share equity instrument Capital Invento compre Surplus n of Retaine interest owners’
able equity
capital Prefer Perpet reserve ry hensive reserve general d profit s
Other reserve
red ual shares income risk
49
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
stock capita
l
securi
ties
266,07
I. Balance at the 279,998 -34,029. 21,908, -2,235,3 28,042, 593,750
1,320.
end of the last year ,206.82 26 064.19 38.96 285.19 ,507.98
00
Add:
Changes of
accounting policy
Error
correction of the
last period
Enterprise
combine under the
same control
Other
II. Balance at the 266,07 279,998 -34,029. 21,908, -2,235,3 28,042, 593,750
beginning of this 1,320.
,206.82 26 064.19 38.96 285.19 ,507.98
year 00
III. Increase/
Decrease in this -182,00 11,560, 729,841 12,108,
year (Decrease is 5.93 370.58 .96 206.61
listed with “-”)
(i) Total -182,00 11,560, 729,841 12,108,
comprehensive
5.93 370.58 .96 206.61
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. Withdrawal of
general risk
provisions
50
山东省中鲁远洋渔业股份有限公司 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 266,07 279,998 -216,03 21,908, 9,325,0 28,772, 605,858
end of the report 1,320.
,206.82 5.19 064.19 31.62 127.15 ,714.59
period 00
8. Statement of Changes in Owners’ Equity (Parent Company)
This Period
In RMB
This Period
Other
equity instrument
Other Total
Item Perpetu Less:
Share Capital comprehe Reasonab Surplus Retaine
al Inventory owners’
capital Preferre reserve nsive le reserve reserve d profit
capital Other shares equity
d stock income
securiti
es
-209,86
I. Balance at the 266,071, 279,115,9 19,184,67 354,503,6
8,217.7
end of the last year 320.00 00.17 2.34 74.81
0
51
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Add: Changes
of accounting
policy
Error
correction of the
last period
Other
II. Balance at the 266,071, -209,86
279,115,9 19,184,67 354,503,6
beginning of this 8,217.7
320.00 00.17 2.34 74.81
year 0
III. Increase/
Decrease in this 5,026,3 5,026,314
year (Decrease is 14.88 .88
listed with “-”)
(i) Total 5,026,3 5,026,314
comprehensive
14.88 .88
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)
2. Surplus reserves
52
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
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 266,071, -204,84
279,115,9 19,184,67 359,529,9
end of the report 1,902.8
320.00 00.17 2.34 89.69
period 2
Last period
In RMB
Last period
Other
equity instrument
Other Total
Item Perpetu Less:
Share Capital comprehe Reasonab Surplus Retaine
al Inventory owners’
capital Preferre reserve nsive le reserve reserve d profit
capital Other shares equity
d stock income
securiti
es
-199,48
I. Balance at the 266,071, 279,115,9 19,184,67 364,883,2
8,637.6
end of the last year 320.00 00.17 2.34 54.83
8
Add: Changes
of accounting
policy
Error
correction of the
last period
Other
II. Balance at the 266,071, -199,48
279,115,9 19,184,67 364,883,2
beginning of this 8,637.6
320.00 00.17 2.34 54.83
year 8
III. Increase/
Decrease in this -10,145, -10,145,4
year (Decrease is 498.82 98.82
listed with “-”)
53
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
(i) Total -10,145, -10,145,4
comprehensive
498.82 98.82
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)
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
54
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
IV. Balance at the 266,071, -209,63
279,115,9 19,184,67 354,737,7
end of the report 4,136.5
320.00 00.17 2.34 56.01
period 0
III. Company profile
(I) Enterprise registration place, Organization form and Headquarters address
Shandong Zhonglu Oceanic Fisheries Co., Ltd. (the “Company”), registration address: No. 29 Miaoling Road,
Laoshan District, Qingdao Shangdong, headquarter locates at No. 65 Haier Road, Qingdao Shangdong, was
incorporated as a joint stock limited company in the People’s Republic of China on 30 July 1999 according to the
documentation of Lu Ti Gai Zi [1999] No.85 issued by Shandong Development and Reform Commission, and the
holding company of the Company is Shandong Fisheries Enterprise Group General Corporation, the main sponsor.
On 26 June 2000, being approved by the documentation of Zheng Jian Fa Xing Zi [2000] No.82 issued by the
China Securities Regulatory Commission, the Company’s B-share, stock ID ”Zhonglu B”, stock code” 200992”
are listing for trading on Shenzhen Stock Exchange dated 24 July 2000.
Basic organization structure of the Company: board of shareholders, board of directors, supervisory committee,
office of the board, departments of human resources, financing plan department, corporate operation department,
office of auditory supervision and general affairs department.
(II) Business nature and main business activities of Enterprise
Corporate industry: sea-going fisheries
Corporate major products: tuna and its products
Operating scope: general management projects: sales and processing of aquatic products; merchandise import and
export business within approved scope; ice machine manufacture and sale; refrigeration equipment manufacturing,
installation, maintenance; refrigeration; load and unload services; housing lease.
Pre-licensing projects: offshore fishing and distant fishing.
(III) person approve teh Financial report for disclosed and date for reprot
The financial report has been approved for report by the Board dated 29 August 2017.
(IV) Scope and changes of consolidated statements during the reporting period
Ended as 30 June 2017, consolidation scope of the Company is as:
four subsidiaries, that is Shandong Zhonglu Fishery Shipping Co., Ltd., Shandong Zhonglu Oceanic (Yantai)
Foods Co., Ltd., HABITAT INTERNATIONAL CORPORATION and Shandong Zhonglu Haiyan Deep-sea
Fishery Co., Ltd; three sub-subsidiary: LAIFFISHERIES COMPANY LIMITED, ZHONG GHA FOODS
COMPANY LIMITED and Shandong Zhonglu Ocean Refrigerated Co., Ltd.; and one operation entity with
controlling rights obtained through operating lease: YAW ADDO FISHERIES COMPANY LIMITED. Found
more in Note VIII. Change of Consolidation Rage and Note IX. Equity in Other entity
55
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
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.
2. Going concern
The Company have the ability to continue as a going concern within 12 months at least since end of the reporting
period, there are no major events that impact the ability to continue as a going concern
V. Important accounting policy and estimation
Notes on specific accounting policies and accounting estimation:
The Company and subsidiaries determine specific accounting policies and accounting estimation based on their
production and operation, which mainly differ in accrual method for bad debt provision of the account receivable,
evaluation of inventory, depreciation of fixed assets and intangible assets amortization and recognization time of
the 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 from January to June in 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
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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.
(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 assts from
acquiree’s, the differences should be recognized as goodwill. If the consolidation cost less than the fair value
amount of indentified net assts 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
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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 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 currency exchange is booked on the current exchange rate on the transaction day and converted in the
bookkeeping standard currency. On the balance sheet day, the monetary items are converted on the current rate on
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the balance sheet day, concerning the exchange differences between teh 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. Incomes and expenses items in the profit statement are
converted on the current rate. The conversion difference of the foreign currency financial statements is listed
specifically in the owners’ equity in the balance sheet. The foreign currency cash flow is converted on the current
rate on the cash flow actual day. The cash influenced by the rate fluctuation is listed specifically in the cash flow
statement. As for the foreign operation, the 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 or liabilities and equity instruments. As the
Company becomes one party of the financial instrument contract, the instrument is recognized as one financial
asset or 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.
Financial assets measure by fair value and of which the changes are included in the current profits and losses
include the trading financial assets with holding purpose of selling in the short run and the financial assets
designated to be measure by fair value in the initial recognition and of which the changes are included in the
current profits and 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;
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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 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.
When an impairment loss on a financial asset measured at 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. The
impairment loss on such financial asset is not reversed once it is recognized.
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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.
11. Account receivable
(1) Account receivables with single major amount and withdrawal bad debt provision independently
Book balance of the account receivable with over one million
Criterion or amount standards of major single amount
Yuan (one million yean inclusive)
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
Age portfolio Aging of accounts
Withdrawing bad bed provision by aging method in portfolio:
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√ Applicable □ Not applicable
Accrued proportion of other accounts
Account ages Accrued proportion of accounts receivable
receivable
Within six months 5.00% 5.00%
6 months – 1 year (including 1 year) 10.00% 10.00%
1－2 years 30.00% 30.00%
2－3 years 50.00% 50.00%
Over three years 100.00% 100.00%
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
Account receivable with over three years in account age and has
Reasons for individual bad debt prevision accrual
objective evidence of impairment appears
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
13. Classify to assets available for sale
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.
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(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 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
Category of the Company’s investment real estate: rented land use rights, rented buildings and land use rights held
for transfer after appreciation. Investment real estate of the Company is initially measured by cost and conducting
follow-up measures by cost mode.
Accrued on the year averaging is the depreciation of the lease buildings in the Company’s investment property.
The detailed check principle is same as that of the fixed assets. The rented land use rights and land use rights held
for transfer after appreciation owned by the Company was adopted line amortization method. Detail calculation
policy was similar to intangible assets.
16. Fixed assets
(1) Recognition
The fixed assets are tangible assets held for the goods production, labor supply, lease or operation & management,
and with above one-accounting-year service life; 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.
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(2) Depreciation method
Category Depreciation method Depreciation life (year) Salvage rate Annual depreciation rate
House and building Straight-line depreciation 20-40 3-5 2.00-5.00
Vessel and netting gear Straight-line depreciation 5-30 3-5 3.17-19.40
Machine equipment Straight-line depreciation 8-20 3-5 5.00-12.00
Transportation
Straight-line depreciation 5 3-5 19.00-19.40
equipment
Furniture and office
Straight-line depreciation 5 3-5 19.00-19.40
equipment
The Company's fixed assets mainly include housing and buildings, vessels and netting, machinery and equipment, transportation
equipment, furniture and office equipment; and the depreciation method adopts the straight-line depreciation. The useful life and
estimated net residual value of fixed assets are determined by the nature and use condition of various types of fixed assets. The useful
life, estimated net residual value, and depreciation method of fixed assets are rechecked at the end of the year, if there is difference
with the former estimated number, corresponding adjustments should be made. In addition to the fixed assets that have been accrued
depreciation and still continue to use and the land that has been separately valued and recorded, the Company counts and draws the
depreciation of all fixed assets.
(3) Recognition, evaluation and depreciation of the fixed assets under finance lease
Recognition of fixed assets under finance lease: the nature of this kind of lease is a transfer of all risk and rewards
related to the ownership of assets. Measurement of fixed assets under finance lease: the initial amount of a fixed
asset under finance lease should be recorded as the lower of fair value of the leased asset at the beginning date of
lease term and the present value of minimum lease payment. Subsequent measurement of fixed assets under
finance lease should be in accordance with the accounting policies adopted for self-owned fixed assets in respect
of provision of depreciation and impairment.
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 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
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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. Biological assets
20. Oil-and-gas assets
21. Intangible assets
(1) Accounting method, service life and impairment test
1) Accounting method for intangible assets
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.
2) Recognition principle of intangible assets with uncertain service life
Recognized as the intangible assets of uncertain service life is refers to those intangible assets of un-expectable
period of economic benefits brought into the Company, or of the uncertain service period. Recognition principle
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of uncertain service life: from contract right or other legal rights, the uncertain service period is stipulated in the
contract or law; after the integration of the situations and relevant expertise argumentation in the same trade, the
period of the economic interest brought into the Company by the intangible assets still cannot be recognized.
At every year-end, the check is taken on the intangible assets of uncertain service life, mainly in bottom-up way,
namely the basic check is taken by the department relevant to the assets utilization, to assess whether there is
change in the recognition principle of the uncertain service life.
(2) Accounting policy of the internal R&D expenditure
22. 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.
23. Long-term deferred expenditure
The Company’s long-term deferred expenditure are 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.
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24. 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 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.
25. Accrual liability
26. Share-based payment
27. Other financial instrument of preferred stock and perpetual capital securities
28. Revenue
Whether the company needs to comply with the disclosure requirements of the particular industry
67
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
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.
The Company mainly conducts seine fisheries sales on sea. In detail, our production vessel directly unloads
fisheries products to the shipping vessel of purchaser. Upon delivery of such products to shipping vessel, parties
from both production vessel and shipping vessel would confirm the unloaded quantity and issue delivery bill (both
parties sign ship receipt); finance department would confirm sales revenue based on ship receipt and sales
contract.
Fisheries products gained from long line fishing by the Company are all shipped back to domestic market for sale.
Our sales department makes external sales by reference to the trading price in Qingshui of Japan. Change in
ownership of cargos is based on sales contract and value determination table. Finance department would confirm
sales revenue based on sales contract and value determination table.
The Company processes aquatic products for domestic sales: Shandong Zhonglu Oceanic (Yantai) Food Co., Ltd.
issues delivery confirmation according to the fax or email orders from domestic customers, then sales staff would
arrange warehouse department to prepare stock and deliver cargos via airline and long trip auto transportation.
Finance department will issue sales invoice according to the delivery bill issued by sales department and signed
and confirmed by warehouse department, and confirm sales revenue.
The Company processes aquatic products for overseas sales: once receipt purchase orders from overseas
customers, our international trade department will issue export delivery confirmation and arrange warehouse
department to prepare relevant orders. Once the cargos to be exported is packed and delivered, warehouse
department will sign on the delivery bill issued by international trade department to confirm. Upon completion of
export by unloading cargos on vessels, we will obtain packing slip, delivery order and other export bills issued by
the transportation department and also bill of clearance from custom. Finance department will issued sales invoice
and confirm sales revenue based on delivery bill, packing slip, bill of clearance, etc.
(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 can not, 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
68
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
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.
The Company's vessel rental income: the transport vessel leases of Shandong Zhonglu Aquatic Shipping Co., Ltd.
and Habitat International Corporation adopt the time charter, the company leases the ships equipped with operators
to others for a certain period of time, and waits for the dispatch and assignment of the leasee during the lease
period, and charges the rental fee from the leasee according to the number of days whether the leasee operates or
not, and the company takes charge of the fixed charges (such as the staff salary, maintenance costs, etc.). During
the lease period, the company settles accounts with the customer per 15 days and confirms the incomes according
to the lease days confirmed with the customer.
29. 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.
30. Deferred income tax asset and 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.
69
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
(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.
31. 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.
32. Other important accounting policy and estimation
Nil
33. 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
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
34. Other
Nil
VI. Taxes
1. Major tax and tax rate
Taxes Taxation basis Tax rate
VAT Output tax minor the deductible input tax 17%、13%、11%、6%
Urban maintenance and construction tax Turnover taxes payable 7%
Corporate income ax Taxable amount 25%
Explain the different taxation entity of the enterprise income tax
Taxation entity Income tax rate
Shandong Zhonglu Oceanic Fisheries Company Limited Imposing no tax on distant fishing, and 25% for the house leasing
Shandong Zhonglu Haiyan Oceanic Co., Ltd. Exemption
HABITAT INTERNATIONAL CORPORATION Exemption
Shandong Zhonglu Fishery Shipping Co., Ltd. 25%
Shandong Zhonglu Oceanic (Yantai) Foods Co., Ltd. Imposing no tax on aquatic product processing
2. Preferential tax
(1)VAT tax preference:
According to the relevant provisions of the Circular About the Provisional Management Method of Not Levying the Tax on the
Aquatic Products Directly Caught by Ocean Fishery Enterprises (SS No. [2000] 260), China's ocean fishery enterprises stipulate on
the high seas or in accordance with the relevant agreements that the aquatic products caught in foreign sea areas and sent back for
domestic sales should be regarded as the domestic products and should not be levied the import duties and import VAT. If the
corresponding domestic sales business is the primary agricultural products sales, exempt from the VAT according to the provisions of
VAT rules. The Company's sales revenue from ocean-going fishing operations is exempt from VAT.
(2) Income tax preference:
According to the Circular of the Preferential Policies Concerning Corporate Income Tax (CSZ No.[1994]001), the Letter About
Relevant Issue About Accelerating the Development of China's Ocean Fisheries (CN No. [2000] 104) of the Ministry of Finance, the
Enterprise Income Tax Law of the People's Republic of China (PRC Presidential Decree No. [2007] 63), the Enforcement
Regulations of Enterprise Income Tax Law of the People's Republic of China (PRC State Council Decree No. 512), Notice About
Issuing the Preliminary Processing Scope (Trial) of Agricultural Products that Enjoy the Preferential Policy of Enterprise Income Tax
of Ministry of Finance and State Administration of Taxation (CS No. [2008]149), and the Supplement Notice About the Preliminary
Processing Scope of Agricultural Products that Enjoy the Preferential Policy of Enterprise Income Tax of Ministry of Finance and
State Administration of Taxation (CS No. [2011] 26), the processing charges for the preliminary processing of agricultural products
can be handled by the tax-exempt items of preliminary processing of agricultural products. The Company's income obtained from the
ocean-going fishing business and the preliminary processing of agricultural products is exempted from corporate income tax. The
Company's income obtained from the business except for the ocean-going fishing and the preliminary processing of agricultural
products should pay the enterprise income tax at 25%.
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
3. Other
VII. Notes to main items in consolidated financial statement
1. Monetary fund
In RMB
Item Closing balance Opening balance
Cash on hand 2,768,761.41 1,741,848.59
Bank deposit 99,561,338.48 126,995,290.36
Other monetary fund 554,393.58 784,064.34
Total 102,884,493.47 129,521,203.29
Including: Total amount save aboard 393,805.29 506,231.81
Other explanation
2. Financial assets measured by fair value and with its variation reckoned into current gains/losses
In RMB
Item Closing balance Opening balance
Other explanation:
3. Derivative financial assets
□ Applicable √ Not applicable
4. Note receivable
(1) Category
In RMB
Item Closing balance Opening balance
(2) Note receivable pledged at period-end
In RMB
Item Amount pledged
(3) Note receivable which have endorsed and discount at period-end and has not expired on balance sheet
date
In RMB
72
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Item De-reorganization amount at period-end Un de-reorganization amount at period-end
(4) Note transferred to account receivable due to the drawer failure to perform at period-end
In RMB
Item Amount transferred to account receivable at period-end
Other explanation
5. 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
Proportio Accrual Proportio Accrual Book value
Amount Amount value Amount Amount
n ratio n ratio
Account receivable
with bad debt 49,884,6 8,060,72 41,823,92 50,739, 8,060,723 42,679,066.
100.00% 16.16% 100.00% 15.89%
provision accrual by 48.45 3.09 5.36 789.74 .09 65
portfolio
49,884,6 8,060,72 41,823,92 50,739, 8,060,723 42,679,066.
Total 100.00% 100.00% 15.89%
48.45 3.09 5.36 789.74 .09 65
Account receivable with major single amount and withdrawal bad debt provision single at period-end:
□ Applicable √ Not applicable
Account receivable with bad debt provision withdrawal by method of account age in portfolio:
√ Applicable □ Not applicable
In RMB
Closing balance
Account age
Account receivable Bad debt provision Accrual ratio
Sub-item of within one year
1-6 months 43,040,072.80 2,035,596.75 5.00%
Subtotal of within one year 43,040,072.80 2,035,596.75 5.00%
1-2 years 1,155,557.64 329,333.93 30.00%
2-3 years 13,548.80 6,774.40 50.00%
Over three years 5,689,018.01 5,689,018.01 100.00%
Total 49,884,648.45 8,060,723.09
Explanation on portfolio basis:
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
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:
(2) Bad debt provision accrual, switch-back or taken back in the period
Amount accrual in the Period; amount switch-back or taken back in the Period
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 Way
(3) Account receivables actually written-off during the reporting period
In RMB
Item Amount verified
Including major account receivables written-off:
In RMB
Occurred due to
Company Nature Amount verified Reasons Verified procedures related transaction
(Y/N)
Explanation on account receivable written-off
(4) Top five receivables collected by arrears party at ending balance
Company Ending balance Ratio in total account Bad debt provision
receivable (%) balance
Hong Kong Luen 7,455,254.79 15.04% 372762.74
Thai Seafood
Taiwan Herpao 4,151,594.33 8.37% 207579.72
Ameican H&T 2,641,015.78 5.33% 132050.79
SEAFOOD INC
Taiwan Sip 1,952,944.25 3.94% 97647.21
Japan Wiki 1,553,477.46 3.13% 77673.87
Total 17,754,286.61 35.81% 887714.33
(5) Account receivables derecognized due to financial assets transfer
(6) Transfer the account receivable and assets & liabilities arising from further involvement
Other explanation:
74
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
6. Prepayments
(1) Prepayments listed by account age
In RMB
Closing balance Opening balance
Account age
Amount Proportion Amount Proportion
Within one year 9,416,627.12 100.00% 7,773,914.94 99.82%
1-2 years 13,688.46 0.18%
Total 9,416,627.12 -- 7,787,603.40 --
Explanation on prepayments with over one year in age and reasons of un-settle:
(2) Top 5 prepayments collected by objects at ending balance
Company Relationship with Ending balance Ratio in total prepayment %
theCompany
Liye International Agency 5,599,893.70 12.66%
Company
Dongyi Sea Supplier 1,968,557.18 4.45%
Transporation
Personal Company
Inspur Service provider 470,000.00 1.06%
Fishing license of Access fishing fee 317,528.42 0.72%
Ivory Coast
Rental of new Leasehold relation 235,085.76 0.53%
house(10 Block)
Total 8,591,065.06 19.42%
Other explanation:
7. Interest receivable
(1) Category
In RMB
Item Closing balance Opening balance
(2) Major overdue interest
Whether has impairment
Borrower Closing balance Overdue time Causes occurred and
determination basis
75
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Other explanation:
8. Dividend receivable
(1) Dividend receivable
In RMB
Item (or invested company) Closing balance Opening balance
(2) Major dividend receivable with over one year aged
In RMB
Whether has impairment
Item (or invested
Closing balance Age Causes 未收回的原因 occurred and
company)
determination basis
Other explanation:
9. 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 bad 11,526,4 4,569,22 6,957,211 13,943, 4,558,806 9,384,672.1
100.00% 39.64% 100.00% 32.69%
debt provision 34.77 3.50 .27 479.12 .96 6
accrual by portfolio
Other account
receivable with
single minor amount 0.00
but withdrawal bad
debt provision singly
11,526,4 4,569,22 6,957,211 13,943, 4,558,806 9,384,672.1
Total 100.00% 39.64% 100.00% 32.69%
34.77 3.50 .27 479.12 .96 6
Other account receivable with major single amount and withdrawal bad debt provision single at period-end:
□ Applicable √ Not applicable
Other account receivable with bad debt provision withdrawal by method of account age in portfolio:
√ Applicable □ Not applicable
76
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
In RMB
Closing balance
Account age
Other account receivable Bad debt provision Accrual ratio
Sub-item of within one year
1-6 months 1,629,006.63 81,727.11 5.00%
6-12 months 873,686.24 87,368.62 10.00%
Subtotal of within one year 2,502,692.87 169,095.74
1-2 years 268,126.14 80,437.84 30.00%
2-3 years 150,669.20 75,334.60 50.00%
Over three years 4,244,355.32 4,244,355.32 100.00%
Total 7,165,843.53 4,569,223.50
Explanation on portfolio basis:
Withdrawing bad bed provision by percentage of total other accounts receivable outstanding in portfolio
□ Applicable √ Not applicable
Withdrawing bad bed provision by other methods in portfolio:
√ Applicable □ Not applicable
Portfolio Ending amount Opening amount
Book balance Accrual Bad debt Book balance Accrual ratio Bad debt
ratio provision % provision
%
Shandong Maritime Bureau 1,000,000.00 1,000,000.00
Star of Afica Co., Ltd. 3,360,591.24 3,360,591.24
Total 4,360,591.24 4,360,591.24
(2) Bad debt provision accrual, switch-back or taken back in reporting period
Amount RMB 10,416.54 accrual in the Period; amount switch-back or taken back in the Period.
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 Way
(3) Other receivables actually written-off during the reporting period
In RMB
Item Amount verified
Including major other account receivables written-off:
In RMB
77
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Occurred due to
Company Nature Amount verified Reasons Verified procedures related transaction
(Y/N)
Explanation on write-off of other receivables:
(4) Classify according to nature
In RMB
Nature Ending book balance Opening book balance
Margin 1,100,520.00 1,021,836.03
Insurance claims payment receivable 252,832.54 220,450.00
Receivable export refund tax 5,593,057.42
Transactions and others 10,173,082.23 7,108,135.67
Total 11,526,434.77 13,943,479.12
(5) Top 5 other receivables collected by arrears party at ending balance
In RMB
Proportion in total
Ending balance of
Company Nature Ending balance Account age other receivables at
bad debt provision
period-end
Shandong Marine
Margin 1,000,000.00 Over three years 8.68%
Affairs Bureau
Daihatsu Intercourse funds 288,896.39 Over three years 2.51% 288,896.39
Insurance company Insurance 252,832.54 0-6 months 2.19% 31,949.88
DIVING SEAGULL Intercourse funds 207,072.50 Over three years 1.80% 207,072.50
Qingdao Branch of
Deposit for rental 200,000.00 0-6 months 1.74%
CMB
Total -- 1,948,801.43 -- 16.92% 527,918.77
(6)Account receivable involved government subsidies
In RMB
Time, amount and basis
Company Government subsidies Ending balance Ending account age
estimated to received
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
(7) Other account receivables derecognized due to financial assets transfer
(8) Transfer the other account receivable and assets & liabilities arising from further involvement
Other explanation:
10. Inventory
Whether the company needs to comply with the disclosure requirements of the particular 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 128,752,757.23 32,811.83 128,719,945.40 71,541,108.42 32,811.83 71,508,296.59
Inventory 82,355,688.25 522,823.51 81,832,864.74 84,023,702.28 2,472,715.03 81,550,987.25
Revolving
864,431.93 864,431.93 763,206.04 763,206.04
material
Low value
445,453.17 445,453.17 813,924.17 813,924.17
consumables
Total 212,418,330.58 555,635.34 211,862,695.24 157,141,940.91 2,505,526.86 154,636,414.05
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
Items Opening balance Switch back or Closing balance
Accrual Other Other
Written-off
Raw materials 32,811.83 32,811.83
Inventory 2,472,715.03 1,949,891.52 522,823.51
Total 2,505,526.86 1,949,891.52 555,635.34
Switch back of the provision for price fall-down refers to the sals of inventory
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
(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
Items Amount
Other explanation:
11. Classified as assets held for sale
In RMB
Expected disposal
Item Ending book value Fair value Expected disposal time
expenses
Other explanation:
12. Non-current assets due within one year
In RMB
Item Closing balance Opening balance
Other explanation:
13. Other current assets
In RMB
Items Closing balance Opening balance
Taxable VAT paid at period-end 33,136,423.87 23,616,544.28
Income tax prepaid 88,480.55 88,480.55
Other tax prepaid 43,924.48 43,924.48
Total 33,268,828.90 23,748,949.31
Other explanation:
14. Finance asset available for sales
(1) Finance asset available for sales
In RMB
Closing balance Opening balance
Items Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Equity instrument available 33,000,000.00 33,000,000.00 33,000,000.00 33,000,000.00
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
for sales:
Measured by cost 33,000,000.00 33,000,000.00 33,000,000.00 33,000,000.00
Total 33,000,000.00 33,000,000.00 33,000,000.00 33,000,000.00
(2) Finance asset available for sales measured by fair value at period-end
In RMB
Equity instrument Debt instrument
Category Total
available for sale available for sale
(3) Finance asset available for sales measured by cost at period-end
In RMB
Book balance Impairment provision Cash
Invested Holding dividend
Period-beg Increase in Decrease Period-beg Increase in Decrease proportion in
Unit in the Period-end in the Period-end invested unit for the
in the period in the period
period period period
Equity
investment
33,000,000 33,000,000 33,000,000 33,000,000
- South 0.87%
.00 .00 .00 .00
Securities
Co., Ltd.
33,000,000 33,000,000 33,000,000 33,000,000
Total --
.00 .00 .00 .00
(4) Impairment reserve of finance asset available for sales
In RMB
Equity instrument Debt instrument
Category Total
available for sale available for sale
(5) Explanation on closing fair value of equity instrument available for sale which was down sharply or
other-than-temporary drop without accrual the impairment provision
In RMB
Decline changes
Time to drop Accrual
Equity instrument of fair value Reasons without
Investment cost Ending fair value continuously impairment
available for sale comparing with accrual
(month) amount
its costs
Other explanation
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
15. Held-to-maturity investment
(1) Held-to-maturity investment
In RMB
Closing balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
(2) Major held-to-maturity investment at Period-end
In RMB
Bond Face value Coupon rate Real interest rates Maturity date
(3) Re-classified as held-to-maturity investment in the period
Other explanation
16. Long-term account receivable
(1) Long-term account receivable
In RMB
Closing balance Opening balance
Discount rate
Item Bad debt Bad debt
Book balance Book value Book balance Book value interval
provision provision
(2) Long-term account receivable derecognition due to financial assets transfer
(3) Assets and liabilities resulted by long-term account receivable transfer and continues involvement
Other explanation
17. Long-term equity investment
In RMB
+,- Ending
Investme Other Cash balance
The Additiona
Opening nt gains comprehe Other dividend Closing of
invested l Capital Impairme
balance recognize nsive equity or profit Other balance impairme
entity investmen reduction nt accrual
d under income change announce nt
t
equity adjustmen d to provision
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
t issued
I. Joint venture
II. Associated enterprise
Other explanation
18. 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 47,120,794.80 47,120,794.80
2.Current increased 581,176.39 581,176.39
(1) Outsourcing
(2) Inventory\fixed
assets\construction in
process transfer-in
(3) Increased by
combination
(4) Increase of
581,176.39 581,176.39
office building lease
3.Current decreased
(1) Disposal
(2) Other
transfer-out
4.Closing balance 47,701,971.19 47,701,971.19
II. Accumulated
depreciation and
accumulated
amortization
1.Opening balance 13,895,890.56 13,895,890.56
2.Current increased 610,265.32 610,265.32
(1) Accrual or
610,265.32 610,265.32
amortization
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
3.Current decreased
(1) Disposal
(2) Other
transfer-out
4.Closing balance 14,506,155.88 14,506,155.88
III. Depreciation reserves
1.Opening balance 886,512.06 886,512.06
2.Current increased
(1) Accrual
3. Current decreased
(1) Disposal
(2) Other
transfer-out
4.Closing balance 886,512.06 886,512.06
IV. Book value
1. Ending Book
32,309,303.25 32,309,303.25
value
2. Opening Book
32,338,392.18 32,338,392.18
value
(2) Investment real estate measure on fair value
□ Applicable √ Not applicable
(3) Investment real estate without property certificate completed
In RMB
Items Book value Reasons
Other explanation
19. Fixed assets
(1) Fixed assets
In RMB
84
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
House and Vessel and netting Machine Transportation Furniture and
Items Total
building gear equipment equipment office equipment
I. Original book
value:
1.Opening
117,457,596.34 459,879,579.56 40,577,242.13 7,142,397.05 11,139,890.83 636,196,705.91
balance
2.Current
48,117.95 462,580.33 510,698.28
increased
(1)
48,117.95 462,580.33 510,698.28
Purchasing
(2)
Construction in
progress
transfer-in
(3) Increased
by combination
3.Current
714,141.41 162,533.11 773,766.52 98,457.84 1,748,898.88
decreased
(1) Disposal
714,141.41 162,533.11 773,766.52 98,457.84 1,748,898.88
or scrapping
4.Closing
116,743,454.93 459,717,046.50 40,625,360.08 6,368,630.53 11,504,013.32 634,958,505.31
balance
II. Accumulative
depreciation
1.Opening
22,569,125.34 169,453,741.31 15,716,521.23 4,991,762.41 7,624,492.26 220,355,642.55
balance
2.Current
4,468,238.17 12,383,378.93 1,019,260.03 214,124.64 385,397.55 18,470,399.32
increased
(1) Accrual 4,468,238.17 12,383,378.93 1,019,260.03 214,124.64 385,397.55 18,470,399.32
3.Current
2,742,410.40 764.56 738,376.01 94,326.10 3,575,877.07
decreased
(1) Disposal
2,742,410.40 764.56 738,376.01 94,326.10 3,575,877.07
or scrapping
4.Closing 24,294,953.11 181,837,120.20 16,735,016.70 4,467,511.04 7,915,563.71 235,250,164.80
85
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
balance
III. Depreciation
reserves
1.Opening
157,573.50 157,573.50
balance
2.Current
increased
(1) Accrual
3.Current
decreased
(1) Disposal
or scrapping
4.Closing
157,573.50 157,573.50
balance
IV. Book value
1. Ending
92,448,501.82 277,879,926.20 23,890,343.38 1,901,119.49 3,588,449.61 399,550,767.01
Book value
2. Opening
94,888,471.00 290,268,264.75 24,860,720.90 2,150,634.64 3,515,398.57 415,683,489.86
Book value
(2) Temporary idle fixed assets
In RMB
Depreciation Impairment
Items Original book value Book value Note
accumulative provision
(3) Fixed assets leasing-in by financing lease
In RMB
Depreciation
Items Original book value Impairment provision Book value
accumulative
(4) Fixed assets leasing-out by operational lease
In RMB
Items Ending book value
86
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
(5) Fixed assets without property certificate obtained
In RMB
Items Book value Reasons for certificate un-settled
Other explanation
Pursuant to the Debt Compensation Opinion entered into between the Company and Shandong Aquatic Products Group in April 2006
and the civil verdict issued by People Court of Lixia district of Jinan city (2005 LZZDi-1299), the comprehensive office building
owned by Shandong Aquatic Products Group at No.43, Heping road, Lixia District, Jinan with original value of RMB54,221,197.05
(among which, RMB9,592,434.61 was recorded as fixed assets and others were recorded as investment property) was ruled to be
vested to the Company, so as to compensate the relevant debts. Building ownership transfer has not been registered yet; management
of the Company is in the process of making active coordination among various parties seeking for early completion of such
registration.
20. Construction in progress
(1) Construction in progress
In RMB
Closing balance Opening balance
Items Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Purchased the
148,802,737.13 148,802,737.13
tuna purse seiner
Atlantic fencing 4,066,989.68 4,066,989.68 4,066,989.68 4,066,989.68
Total 152,869,726.81 152,869,726.81 4,066,989.68 4,066,989.68
(2) Changes of major project in progress
In RMB
Accumul
Proporti Includin
ative
on of g:
Transfer Other amount
Opening Current Ending project Work interest Capitaliz Capital
Item Budget to fixed decreasin of
balance increased balance investme progress capitaliz ing rate resources
assets g interest
nt in ation in
capitaliz
budget Period
ation
Purchase
Loan
d the
153,180, 148,802, 148,802, from
tuna 97.14%
000.00 737.13 737.13 financial
purse
organ
seiner
87
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
153,180, 148,802, 148,802,
Total -- -- --
000.00 737.13 737.13
(3) Impairment provision of construction in process accrual in the Period
In RMB
Items Accrual amount Reasons
Other explanation
21. Engineering material
In RMB
Items Closing balance Opening balance
Other explanation:
22. Disposal of fixed assets
In RMB
Items Closing balance Opening balance
Disposal of transportation equipment -15,678.87
Total -15,678.87
Other explanation:
23. Productive biological assets
(1) Measured by cost
□ Applicable √ Not applicable
(2) Measured by fair value
□ Applicable √ Not applicable
24. Oil/gas assets
□ Applicable √ Not applicable
25. Intangible assets
(1) Intangible assets
In RMB
Items Land use right Patent right Non-patented Computer software Total
88
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
technology
I. Original book
value
1.Opening
17,154,729.00 197,000.00 17,351,729.00
balance
2.Current
4,512.82 4,512.82
increased
(1) Purchasing
(2) Internal
R&D
(3) Increased by
combination
3.Current
decreased
(1) Disposal
4.Closing
17,154,729.00 201,512.82 17,356,241.82
balance
II. Accumulated
amortization
1.Opening
4,069,902.17 174,433.26 4,244,335.43
balance
2.Current
191,935.08 3,875.19 195,810.27
increased
(1) Accrual 3,875.19 3,875.19
3.Current
decreased
(1) Disposal
4.Closing
4,261,837.25 178,308.45 4,440,145.70
balance
III. Depreciation
reserves
1.Opening
balance
89
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
2.Current
increased
(1) Accrual
3.Current
decreased
(1) disposal
4.Closing
balance
IV. Book value
1. Ending Book
12,892,891.75 23,204.37 12,916,096.12
value
2. Opening
13,084,826.83 22,566.74 13,107,393.57
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 right without property certificate completed
In RMB
Items Book value Reasons
Other explanation:
26. Development expenses
In RMB
Opening Closing
Items Current increased Current decreased
balance balance
Other explanation
27. Goodwill
(1) Original book value of goodwill
In RMB
The invested
entity of events
Opening balance Increase during the period Decrease during this period Closing balance
with goodwill
resulted
90
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
(2) Impairment provision of goodwill
In RMB
The invested
entity of events
Opening balance Increase during the period Decrease during this period Closing balance
with goodwill
resulted
Explain the impairment testing, parameter and recognition method of the impairment losses of goodwill:
Other explanation
28. Long-term deferred expenditure
In RMB
Items Opening balance Current increased Amortized in Period Other decreased Closing balance
Amortization of
0.00 622,977.35 622,977.35
decoration in HQ
Total 622,977.35 622,977.35
Other explanation
29. Deferred income tax asset /deferred income tax liability
(1) Deferred income tax assets un-offset
In RMB
Closing balance Opening balance
Items Deductible temporary Deferred income tax Deductible temporary Deferred income tax
differences asset differences asset
(2) Deferred income tax liabilities un-offset
In RMB
Closing balance Opening balance
Items Taxable temporary Deferred income tax Taxable temporary Deferred income tax
differences liability differences liability
(3) Amount of deferred income tax asset and deferred income tax liability after trade-off
In RMB
Trade-off between the Ending balance of Trade-off between the Opening balance of
Items deferred income tax deferred income tax deferred income tax deferred income tax
assets and liabilities assets or liabilities after assets and liabilities at assets or liabilities after
91
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
off-set period-begin off-set
(4) Deferred income tax asset without confirmed
In RMB
Items Closing balance Opening balance
(5) Deductible losses of deferred income tax asset without confirmed will expired in later year
In RMB
Year Closing amount Opening amount Note
Other explanation:
30. Other non-current assets
In RMB
Items Closing balance Opening balance
INSPUR 285,524.92 285,524.92
Land prepayment for phase II of Zhonglu
2,000,000.00 2,000,000.00
Refrigeration
Total 2,285,524.92 2,285,524.92
Other explanation:
31. Short-term borrowing
(1) Category of short-term borrowing
In RMB
Items Closing balance Opening balance
Mortgage loan 41,832,687.84 28,000,000.00
Guaranteed loan 100,000,000.00
Credit loan 26,833,678.77 26,961,454.59
Total 168,666,366.61 54,961,454.59
Explanation on category of short-term borrowing:
(2) Short-term loans un-paid by expired
Total short-term loans un-paid by expired at end of the Period was 0 Yuan, including important short-term loans are as:
In RMB
Unit Ending balance Loans rate Overdue time Overdue interest rate
Other explanation:
92
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
32. Financial liability measured by fair value and with its variation reckoned into current gains/losses
In RMB
Item Closing balance Opening balance
Other explanation:
33. Derivative financial liabilities
□ Applicable √ Not applicable
34. Note payable
In RMB
Category Closing balance Opening balance
Totally Yuan due note payable are paid at period-end.
35. Account payable
(1) Account payable
In RMB
Items Closing balance Opening balance
Within one year (one year included) 98,536,221.70 52,427,574.40
Over 1 year 4,574,419.18 6,746,158.48
Total 103,110,640.88 59,173,732.88
(2) Major account payable over one year
In RMB
Items Closing balance Reasons of un-paid or carry-over
Other explanation:
36. Account received in advance
(1) Account received in advance
In RMB
Items Closing balance Opening balance
Within one year (one year included) 7,598,394.56 19,591,036.39
Over 1 year 349,863.72 349,863.72
93
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Total 7,948,258.28 19,940,900.11
(2) Major account received in advance with over one year age
In RMB
Items Closing balance Reasons of un-paid or carry-over
(3) Projects un-completed but settled from construction contract at end of the Period
In RMB
Items Amount
Other explanation:
37. Salary payable
(1) Salary payable
In RMB
Increase during the Decrease during this
Items Opening balance Closing balance
period period
I. Short-term compensation 30,320,927.64 48,536,179.20 58,120,425.92 20,736,680.92
II. Post-employment
welfare- defined 0.00 3,419,616.12 3,419,616.12 0.00
contribution plans
III. Dismissal welfare 253,690.98 0.00 71,943.62 181,747.36
IV. Other welfare due
37,785.14 0.00 0.00 37,785.14
within one year
Total 30,612,403.76 51,955,795.32 61,611,985.66 20,956,213.42
(2) Short-term compensation
In RMB
Increase during the Decrease during this
Items Opening balance Closing balance
period period
1. Wages,bonuses,allowances
28,903,757.58 42,500,459.30 52,271,626.22 19,132,590.66
andsubsidies
2. Welfare for workers
0.00 1,919,377.99 1,919,377.99 0.00
and staff
3. Social insurance 0.00 1,783,700.58 1,783,700.58 0.00
Including: Medical 0.00 1,488,566.47 1,488,566.47 0.00
94
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
insurance
Work injury
0.00 136,868.09 136,868.09 0.00
insurance
Maternity
0.00 158,266.02 158,266.02 0.00
insurance
4. Housing accumulation
0.00 1,429,305.17 1,429,305.17 0.00
fund
5. Labor union
expenditure and
1,417,170.06 226,532.01 39,611.81 1,604,090.26
personnel education
expense
6. Short-term paid
0.00 676,804.15 676,804.15 0.00
absence
7. Short-term profit
0.00 0.00 0.00 0.00
sharing scheme
Total 30,320,927.64 48,536,179.20 58,120,425.92 20,736,680.92
(3) Defined contribution plans
In RMB
Increase during the Decrease during this
Items Opening balance Closing balance
period period
1. Basic endowment
3,153,847.07 3,153,847.07
insurance
2. Unemployment
128,966.45 128,966.45
insurance
3. Enterprise annuity
0.00 0.00
payment
4. Other 136,802.60 136,802.60
Total 0.00 3,419,616.12 3,419,616.12 0.00
Other explanation:
38. Tax payable
In RMB
Items Closing balance Opening balance
Value-added tax 107,772.18 147,692.07
Enterprise income tax 296,757.07 701,435.86
Individual income tax 217,407.94 120,112.87
95
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Urban maintenance and construction tax 274.66 2,068.39
House property tax 401,341.49 211,836.25
Land use tax 150,809.98 154,055.30
Educational additional 1,091.04 886.45
Other tax 8,069.96 6,792.66
Total 1,183,524.32 1,344,879.85
Other explanation:
39. Interest payable
In RMB
Items Closing balance Opening balance
Interest payable for short-term loans 86,747.10
Total 86,747.10
Interest overdue without paid:
In RMB
Borrower Amount overdue Reasons
Other explanation:
40. Dividend payable
In RMB
Items Closing balance Opening balance
Other explanation, including dividend payable unpaid over one year, and explain the reasons:
41. Other payable
(1) Classification of other payable according to nature of account
In RMB
Items Closing balance Opening balance
Within 1 year (including 1 year) 4,476,852.04 785,938.83
Over 1 year 3,131,806.40 4,435,101.99
Total 7,608,658.44 5,221,040.82
(2) Significant other payable with over one year age
In RMB
96
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Items Closing balance Reasons of un-paid or carry-over
Other explanation
42. Classified as liabilities held for sale
In RMB
Items Closing balance Opening balance
Other explanation:
43. Non-current liabilities due within one year
In RMB
Items Closing balance Opening balance
Deferred income due within one year 433,292.74 866,585.48
Total 433,292.74 866,585.48
Other explanation:
44. Other current liability
In RMB
Items Closing balance Opening balance
Changes of short-term payable bonds:
In RMB
Amortizat
Interest ion of
Face Issuing Bond Issue Opening Issued in accrual premium Paid in Closing
Bond
value date period amount balance the Period by face price and the Period balance
value conversio
n
Other explanation:
45. Long-term loans
(1) Classification of long-term loans
In RMB
Items Closing balance Opening balance
Explanation on category of long-term loans:
Other explanation, including interest rate section:
97
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
46. Bonds payable
(1) Bonds payable
In RMB
Item Closing balance Opening balance
(2) Changes of bond payable (excluding other financial instrument of preferred stock and perpetual capital
securities that classified as financial liability)
In RMB
(3) Condition of convertible bonds and time of transferring
(4) Other financial instrument classified as financial liabilities
Outstanding preferred stock and perpetual capital securities at period-end
Changes of the outstanding preferred stock and perpetual capital securities at period-end
In RMB
Outstanding Period-begin Increase during the period Decrease during this period Period-end
financial
Amount Book value Amount Book value Amount Book value Amount Book value
instrument
Explanations on basis of other financial instrument classified into financial liabilities
Other explanation
47. Long-term account payable
(1) Listed by nature
In RMB
Items Closing balance Opening balance
Other explanation:
48. Long-term employee payable
(1) Long-term employee payable
In RMB
Items Closing balance Opening balance
I Post-employment benefit – net liability of
648,548.88 648,548.88
the defined benefit plan
III. Other long-term welfare 1,051,202.96 1,051,202.96
98
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Total 1,699,751.84 1,699,751.84
(2) Change of defined benefit plan
Present value of the obligation of defined benefit plan:
In RMB
Items Current Period Last Period
Scheme assets:
In RMB
Items Current Period Last Period
Net liability(assets) of the defined benefit plan
In RMB
Items Current Period Last Period
Contents of defined benefit plan and the risks associate thereof, influences upon the Company’s future cash flow, timing and
uncertainty:
The material actuary assumption and sensitive analysis relating to defined benefit plan is explained as follows:
Other explanation:
49. Special payable
In RMB
Increase during the Decrease during this
Items Opening balance Closing balance Causes
period period
Other explanation:
50. Accrued liabilities
In RMB
Items Closing balance Opening balance Causes
Other explanation, including relevant important hypothesis and estimation:
51. Deferred income
In RMB
Increase during the Decrease during this
Items Opening balance Closing balance Causes
period period
Government grants 10,572,454.62 10,572,454.62
Total 10,572,454.62 10,572,454.62 --
Item with government subsidy concerned:
In RMB
99
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Amount reckoned
into
Subsidy increase Assets-related/
Item Opening balance non-operation Other changes Closing balance
during this period Income-related
revenue in the
Period
Construction
9,867,781.98 9,867,781.98
special fund
Financial
ship-building 704,672.64 704,672.64
discount
Total 10,572,454.62 10,572,454.62 --
Other explanation:
52. Other non-current liability
In RMB
Items Closing balance Opening balance
Other explanation:
53. 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 266,071,320.00 266,071,320.00
Other explanation:
54. Other equity instrument
(1) Other financial instrument of outstanding preferred stock and perpetual capital securities at period-end
(2) Changes of financial instrument of outstanding preferred stock and perpetual capital securities at
period-end
In RMB
Outstanding Period-begin Increase during the period Decrease during this period Period-end
financial
Amount Book value Amount Book value Amount Book value Amount Book value
instrument
Changes of other equity instrument, explanation on changes and basis of relevant accounting treatment:
100
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Other explanation:
55. Capital surplus
In RMB
Increase during the Decrease during this
Items Opening balance Closing balance
period period
Capital premium (equity
185,036,701.86 185,036,701.86
premium)
Other Capital surplus 94,961,504.96 94,961,504.96
Total 279,998,206.82 279,998,206.82
Other explanation, including changes and reasons of changes:
56. Treasury stock
In RMB
Increase during the Decrease during this
Items Opening balance Closing balance
period period
Other explanation, including changes and reasons for changes:
57. Other consolidated income
In RMB
Current Period
Less: written in
other
comprehensive
Account Belong to Belong to
Opening income in Closing
Items before Less : income parent minority
balance previous period balance
income tax in tax expense company after shareholders
and carried
the period tax after tax
forward to gains
and losses in
current period
(II) Other comprehensive income
-310,326.
items which will be reclassified -665,059.07 354,732.98 354,732.98
09
subsequently to profit or loss
Translation differences of foreign -310,326.
-665,059.07 354,732.98 354,732.98
financial sheet 09
-310,326.
Total of other consolidated income -665,059.07 354,732.98 354,732.98
09
Other explanation, including the active part of the hedging gains/losses of cash flow transfer to initial reorganization adjustment for
101
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
the arbitraged items:
58. Reasonable reserve
In RMB
Increase during the Decrease during this
Items Opening balance Closing balance
period period
Other explanation, including changes and reasons for changes:
59. Surplus reserves
In RMB
Increase during the Decrease during this
Items Opening balance Closing balance
period period
Statutory surplus
21,908,064.19 21,908,064.19
reserves
Total 21,908,064.19 21,908,064.19
Other explanation, including changes and reasons for changes:
60. Retained profit
In RMB
Items This period Last period
Retained profits at the end of last year before
50,349,731.78 -2,235,338.96
adjustment
Retained profits at the beginning of the period
50,349,731.78 -2,235,338.96
after adjustment
Add: net profit attributable to owners of parent
32,001,590.86 52,585,070.74
company
Retained profit at period-end 82,351,322.64 50,349,731.78
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 Yuan.
2) The changes in accounting policies affect the retained profits at the beginning of the period amounting to 0 Yuan.
3) The major accounting error correction affects the retained profits at the beginning of the period amounting to 0 Yuan
4) Merge scope changes caused by the same control affect the retained profits at the beginning of the period amounting to 0 Yuan.
5) Other adjustments affect the retained profits at the beginning of the period amounting to 0 Yuan
61. Operating income and cost
In RMB
102
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Current Period Last Period
Items
Income Cost Income Cost
Main operating 435,825,365.50 377,649,192.30 402,902,159.56 381,353,587.60
Other operating 4,352,726.25 718,241.91 4,988,634.22 843,405.00
Total 440,178,091.75 378,367,434.21 407,890,793.78 382,196,992.60
62. Tax and surcharges
In RMB
Items Current Period Last Period
City maintenance and construction tax 305,392.09 4,508.00
Educational surtax 218,137.21 3,192.50
House property tax 740,050.43 133,200.00
Land use tax 315,805.99
Vehicle and vessel tax 27,664.36
Stamp tax 54,922.03
Business tax 64,400.00
Local water conservancy construction fund 43,464.74
Other 35,150.47
Total 1,705,436.85 240,450.97
Other explanation:
63. Sales expenses
In RMB
Items Current Period Last Period
Payroll payable 734,426.40 502,157.65
Port surcharge 355,592.64 1,491,034.68
Freight and miscellaneous charges 2,851,332.58 577,967.71
Customs censoring charges
Travelling charge 11,898.35 38,367.10
Business publicity expenses 86,618.05 95,279.59
Other 41,435.46 33,650.65
Total 4,081,303.48 2,738,457.38
Other explanation:
103
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
64. Administrative expenses
In RMB
Items Current Period Last Period
Payroll payable 9,212,316.46 8,917,176.41
Depreciation 556,028.52 760,740.14
Travelling charge 1,054,696.16 338,936.43
Business entertainment expenses 555,868.54 661,253.56
Expense of taxation 781,002.24
Vehicles charge 125,250.73 254,460.57
Attorney charge 813,954.48 708,252.22
Office allowance 212,314.01 267,058.20
Property water and electricity 153,112.13 96,610.32
Amortization of intangible assets 195,735.06 195,735.06
Other 3,314,423.72 1,400,333.67
Total 16,193,699.81 14,381,558.82
Other explanation:
65.Financial expenses
In RMB
Items Current Period Last Period
Interest costs 2,891,553.08 1,810,730.46
Less: interest income 352,460.61 181,267.53
Exchange loss 4,141,704.98 839,850.57
Less: exchange gains 562,848.61 3,449,536.51
Handing expense 330,949.94 123,871.81
Other expense 68,814.21 51,500.39
Total 6,517,713.00 -804,850.82
Other explanation:
66. Losses on assets impairment
In RMB
Item Current Period Last Period
I. Bad debt losses 10,500.00
Total 10,500.00
104
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Other explanation:
67. Gains from changes of fair value
In RMB
Source of gains from changes of fair value Current Period Last Period
Other explanation:
68. Gains on investment
In RMB
Item Current Period Last Period
Other explanation:
69. Other income
In RMB
Sources Current Period Last Period
70. Non-operating expenditure
In RMB
Amount reckoned in current
Items Current Period Last Period
non-recurring gains/losses
Total income from disposal of
262,776.33 2,672,766.60
non-current assets
Including: Gains from disposal
262,776.33 40,831.07 262,776.33
of fixed assets
Government subsidy 433,292.74 443,568.74 433,292.74
Indemnity from insurance
205,791.69 205,791.69
company
Other 9,117.16 2,941,838.21 9,117.16
Total 910,977.92 3,426,238.02 910,977.92
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)
105
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Subsidy
achieved for
engaging in
specific
business or
industry
encouraged
Financial
and Assets-relate
ship-building Subsidy Y N 14,188.00 14,188.00
supported by d
discount
the country
(obtained
legitimately
according to
national
policies and
regulations)
Subsidy
achieved for
engaging in
specific
business or
industry
encouraged
Special
and Assets-relate
construction Subsidy Y N 419,104.74 429,380.74
supported by d
fund
the country
(obtained
legitimately
according to
national
policies and
regulations)
Total -- -- -- -- -- 433,292.74 443,568.74 --
Other explanation:
71. Non-operating expenses
In RMB
Amount included in current
Item Current Period Last Period
non-recurring profits or losses
Total losses on disposal of
399.90 9,680.71
non-current assets
106
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Including: loss on disposal of
399.90 2,163.80 399.90
fixed assets
Other 295,719.88 7,516.91 295,719.88
Additional overdue find of state
4,282.38 4,282.38
taxes
Total 300,402.16 9,680.71 300,402.38
Other explanation:
72. Income tax expenses
(1) Statement of income tax expense
In RMB
Items Current Period Last Period
Current income tax expense 453,724.36 264,529.60
Total 453,724.36 264,529.60
(2) Adjustment on accounting profit and income tax expenses
In RMB
Items Current Period
Total profit 33,912,580.16
Income tax based on statutory/applicable rate 453,724.36
Income tax expense 453,724.36
Other explanation
73. Other comprehensive income
See Note 57.
74. Items of statement of cash flow
(1) Other cash received in relation to operation activities
In RMB
Items Current Period Last Period
Intercourse funds and others 42,741,358.46 36,914,813.79
Including: financial expense- interest
362,762.21 193,534.85
income
107
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Total 43,104,120.67 37,108,348.64
Explanation on other cash received in relation to operation activities:
(2) Other cash paid in relation to operation activities
In RMB
Items Current Period Last Period
Expenses of management cash paid 4,119,883.15 9,521,672.42
Sales expenses paid in cash 1,234,748.50 2,738,457.38
Intercourse funds and others 49,044,939.72 48,150,288.98
Purchase of financial products 7,000,000.00
Total 54,399,571.37 67,410,418.78
Explanation on other cash paid in relation to operation activities:
(3) Cash received from other investment activities
In RMB
Items Current Period Last Period
Explanation on cash received from other investment activities
(4) Cash paid related with investment activities
In RMB
Items Current Period Last Period
Other 84,559.42
Total 84,559.42
支付的其他与投资活动有关的现金说明：
(5) Other cash received in relation to financing activities
In RMB
Items Current Period Last Period
Explanation on other cash received in relation to financing activities
(6) Cash paid related with financing activities
In RMB
Items Current Period Last Period
Explanation on cash paid related with financing activities:
75. Supplementary information to statement of cash flow
108
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
(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 33,458,855.80 12,290,212.54
Add: Assets impairment provision -1,943,630.88 -201,172.25
Depreciation of fixed assets, consumption of
oil assets and depreciation of productive 15,751,219.98 16,243,824.31
biology assets
Amortization of intangible assets 195,735.06 195,735.06
Loss from disposal of fixed assets, intangible
assets and other long-term assets(gain is -247,813.32 -2,663,085.89
listed with “-”)
Financial expenses (gain is listed with “-”) 2,891,561.26 1,050,289.43
Decrease of inventory (increase is listed with
-55,276,389.67 -14,960,244.79
“-”)
Decrease of operating receivable accounts
-1,486,025.93 -34,189,476.51
(increase is listed with “-”)
Increase of operating payable accounts
24,532,644.24 38,467,499.68
(decrease is listed with “-”)
Net cash flow arising from operating
17,876,156.54 16,233,581.58
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 102,884,493.47 79,772,739.78
Less: Balance of cash equivalent at
129,521,203.29 72,428,421.94
year-begin
Net increasing of cash and cash equivalents -26,636,709.82 7,344,317.84
(2) Net cash paid for obtaining subsidiary in the Period
In RMB
Amount
Including: --
Including: --
Including: --
109
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Other explanation:
(3) Net cash received by disposing subsidiary in the Period
In RMB
Amount
Including: --
Including: --
Including: --
Other explanation:
(4) Constitution of cash and cash equivalent:
In RMB
Item Closing balance Opening balance
Ⅰ. Cash 102,884,493.47 129,521,203.29
Including: Cash on hand 2,768,761.41 1,733,006.22
Bank deposit available for payment
99,561,338.48 128,664,656.08
at any time
Other monetary fund available for
554,393.58 784,064.34
payment at any time
Ⅲ. Balance of cash and cash equivalent at
102,100,951.96 128,737,661.78
period-end
Other explanation:
76. Notes of changes of owners’ equity
Explain the name and adjusted amount in “Other” at end of last period:
77. Assets with ownership or use right restricted
In RMB
Item Ending book value Restriction reasons
Other monetary fund, L/C Guarantee
Monetary fund 783,541.51
deposits
Fixed assets 80,517,681.32 Real estate, mortgage bank
Intangible assets 12,892,891.75 Lands, mortgage bank
Total 94,194,114.58 --
Other explanation:
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
78. Item of foreign currency
(1) Item of foreign currency
In RMB
Closing balance of foreign
Items Rate of conversion Ending RMB balance converted
currency
Including: USD 4,363,269.58 6.7744 29,558,533.44
EUR 36,817.90 7.7496 285,324.00
JPY 72,612,178.00 0.060485 4,391,947.59
CEDI 1,573,618.46 1.6258 2,558,388.89
Including: USD 2,667,650.06 6.7744 18,071,728.57
JPY 171,613,198.59 0.060485 10,380,024.32
Other explanation:
(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
major foreign operation
Foreign main operation place Book-keping currency Basis
entity
HABITAT
The economic enviornment
INTERNATIONAL Panama CNY
in the operation sites
CORPORATION
LAIF FISHERIES The economic enviornment
Garner USD
COMPANY LIMITED in the operation sites
YAW ADDO FISHERIES The economic enviornment
Garner USD
COMPANY LIMITED in the operation sites
79. Hedging
Disclosed hedging items and relevant hedging instrument based on hedging’s category, disclosed qualitative and quantitative
information for the arbitrage risks:
111
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
80. Other
VIII. Changes of consolidation scope
1. Enterprise consolidation not under the same control
(1) Enterprise consolidation not under the same control
In RMB
Income of Net profit of
Standard to
Time point Cost of Ratio of Acquired acquiree from acquiree from
Purchasing determine the
Acquiree for equity equity equity way Equity purchasing purchasing
date purchasing
obtained obtained obtained obtained way date to date to
date
period-end period-end
Other explanation:
(2) Combination cost and goodwill
In RMB
Combination cost
Determination method for fair value of the combination cost and contingent consideration and changes:
Main reasons for large goodwill resulted:
Other explanation:
(3) Identifiable assets and liability on purchasing date under the acquiree
In RMB
Fair value on purchasing date Book value on purchasing date
Determination method for fair value of the identifiable assets and liabilities:
Contingent liability of the acquiree bear during combination:
Other explanation:
(4) Gains or losses arising from re-measured by fair value for the equity held before purchasing date
Whether it is a business combination realized by two or more transactions of exchange and a transaction of obtained control rights in
the Period or not
□Y √N
112
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
(5) On purchasing date or period-end of the combination, combination consideration or fair value of
identifiable assets and liability for the acquiree are un-able to confirm rationally
(6) Other explanation
2. Enterprise combined under the same control
(1) Enterprise combined under the same control in the Period
In RMB
Income of the Net profit of
combined the combined
Income of the Net profit of
party from party from
Basis of Standard to combined the combined
Equity ratio period-begin period-begin
combined Combination determine the party during party during
Acquiree obtained in of of
under the date combination the the
combination combination combination
same control date comparison comparison
to the to the
period period
combination combination
date date
Other explanation:
(2) Combination cost
In RMB
Combination cost
Explanation on contingent consideration and its changes:
Other explanation:
(3) Assets and liability of the combined party on combination date
In RMB
Combination date Ending period of last year
Contingent liability of the combined party bear during combination
Other explanation:
3. Counter purchase
Basic information of transactions, basis of transactions constituting counter purchase, whether assets and liabilities reserved by listed
companies constituting business and their basis, confirmation of combined cost, the amount occurred when adjusting rights and
interests in accordance with equity transaction and its calculation:
113
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
4. Disposal of subsidiaries
Losing controlling rights while dispose subsidiary on one-time
□Yes √No
Dispose subsidiary step by step through multi-dealings and losing controlling rights in the Period
□Yes √No
5. Changes of combination scope
Other reasons contributed the changes for combination scope (e.g. new subsidiary established, liquidate subsidiary etc.):
6. Other
IX. 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
Shandong
Zhonglu Fishery Qingdao Qingdao Refrigerated
100.00% Investment
Shipping Co., Shandong Shandong transport
Ltd.
Shandong
Zhonglu Oceanic
Yantai Shandong Yantai Shandong Food processing 100.00% Investment
(Yantai) Food
Co., Ltd.
Shandong
Zhonglu Haiyan Qingdao Qingdao
Pelagic fishing 81.26% Investment
Oceanic Fishery Shandong Shandong
Co., Ltd.
HABITAT
INTERNATION Refrigerated
Panama Panama 100.00% Investment
AL transport
CORPORATION
YAW ADDO
FISHERIES
Garner Garner Pelagic fishing Operating lease
COMPANY
LIMITED
Explanation on share-holding ratio in subsidiary different from ratio of voting right:
114
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
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 an 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
Shandong Zhonglu
Haiyan Oceanic Fishery 18.74% 5,055,199.11 33,097,484.30
Co., Ltd.
Explanation on share-holding ratio of minority different from ratio of voting right:
Other explanation:
(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
Shandon
g
Zhonglu
80,825,5 239,567, 320,393, 135,299, 704,672. 136,004, 96,844,1 92,416,5 189,260, 12,017,6 704,672. 12,722,2
Haiyan
28.26 646.77 175.03 436.58 64 109.22 05.24 72.75 677.99 18.20 64 90.84
Oceanic
Fishery
Co., Ltd.
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
Shandong
46,126,136.8 34,584,084.0 28,313,004.2 18,146,183.3
Zhonglu 7,776,226.98 7,819,205.69 3,894,567.56 3,672,699.56
7 5 4 7
Haiyan
115
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Oceanic
Fishery Co.,
Ltd.
Other explanation:
(4) Use of the corporate funds and major limitation of debt liquidation of the group
(5) Financial supporting or other supports offer to the structured body, which included in consolidation
statement scope
Other explanation:
2. Transaction that has owners equity shares changed in subsidiary but still with controlling rights
(1) Owners equity shares changed in subsidiary
(2) Impact on minority’s interest and owners’ equity attributable to parent company
In RMB
Other explanation
3. Equity in joint venture and cooperative enterprise
(1) Important joint venture and cooperative enterprise
Share-holding ratio Accounting
treatment on
Main operation investment for
Name Registered place Business nature
place Directly Indirectly joint venture and
cooperative
enterprise
Share-holding ratio or shares enjoyed different from voting right ratio:
Basis of the voting rights with 20% below but with major influence, or without major influence but with over 20% (20% included)
voting rights hold:
(2) Main financial information of the important joint venture
In RMB
Closing balance /Current Period Opening balance /Last Period
116
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Other explanation
(3) Main financial information of the important cooperative enterprise
In RMB
Closing balance /Current Period Opening balance /Last Period
Other explanation
(4) Summary of the financial information for those minor joint venture and affiliates
In RMB
Closing balance /Current Period Opening balance /Last Period
Joint venture: -- --
Total of the items counted by share-holding
-- --
ratio
Cooperative enterprise: -- --
Total of the items counted by share-holding
-- --
ratio
Other explanation
(5) Major limitation of the capital transfer to the Company from joint venture or affiliates
(6)Excess deficit arising from joint venture or affiliates
In RMB
Loss un-confirmed in the Period
Accumulative loss Accumulative loss confirmed at
Joint venture or affiliates (or net profit shared in the
un-confirmed previous period-end
Period)
Other explanation
(7)Un-confirmed commitment with joint venture investment concerned
(8)Contingency with investment of joint venture investment concerned
4. Major co-management
Share-holding ratio /shares enjoyed
Name Main operation place Registered place Business nature
Directly Indirectly
Explanation on difference of the voting rights over share-holding or share enjoyed in co-management:
As for the independent entity, basis of co-management classification:
117
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Other explanation
5. Equity in structured entities not included in the consolidated financial statements
Note of structured entities not included in the consolidated financial statements:
6. Other
X. Risks related to financial instruments
The financial assets of the Company include accounts receivable and other receivables. The financial liabilities of the Company include
accounts payable, other payables and short-term loans. For details of each financial instrument, please refer to the relevant items in
Note 5. The Company is faced with the risks of various financial instruments in its daily activities, mainly including credit risk,
liquidity risk and market risk. The board of directors is responsible for establishing and supervising the risk management structure of
the Company and developing and monitoring the Company's risk management policies.
Risk management objectives and policies: the Company's goal of risk management is to strike a proper balance between risks and
profits, minimize the negative impacts of the risks on the Company's operating results and maximize the benefits of shareholders and
other equity investors.
1. Credit risk
If the customer or the other party involving in the financial instruments cannot fulfill the obligations under the contract and cause
financial losses to the Company, that is credit risk. Credit risk is mainly from the customer receivables. The book value of account
receivables and notes receivable and other receivables is the maximum credit risk of the Company for financial assets.
2. Liquidity risk
Liquidity risk is the risk of the shortage of funds when the Company is fulfilling its obligations related to financial liabilities. In the case
of normal and tense funds, the Company needs to ensure that there is sufficient liquidity to meet its due debts and negotiate with
financial institutions for financing so as to maintain a certain level of reserve credit line to reduce the liquidity risk.
3. Market risk
(1) Foreign exchange risk
Foreign exchange risk refers to the risk that the fair value of financial instruments or the future cash flows fluctuate due to changes in
foreign exchange rates. The foreign exchange risk faced by the Company mainly comes from the financial assets valued in US
dollars, and the amount of foreign currency financial assets converted into RMB is listed as described in VII. 78 foreign currency
monetary items.
(2) Interest rate risk
Interest rate risk refers to the risk that the fair value of financial instruments or future cash flows fluctuate due to changes in market
interest rates. The interest rate risk faced by the Company mainly comes from the long-term bank loans, the Company’s loans are
floating interest rate, and there is risk of RMB benchmark interest rate change.
XI. Disclosure of fair value
1. Ending fair value of the assets and liabilities measured by fair value
In RMB
Ending fair value
Item
First-order Second-order Third-order Total
118
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
I. Sustaining measured by
-- -- -- --
fair value
II. Non-persistent measure -- -- -- --
2. Basis for determining the market price of the sustained and non-sustained first-level fair value
measurement projects
3. The qualitative and quantitative information of the valuation techniques and important parameters
adopted for the sustained and non-sustained second-level fair value measurement projects
4. The qualitative and quantitative information of the valuation techniques and important parameters
adopted for the sustained and non-sustained third-level fair value measurement projects
5. The adjustment information about book value between the beginning and the end of the period and the
unobservable parameter sensitivity analysis of the sustained third-level fair value measurement projects
6. The sustained third-level fair value measurement projects that conversion has occurred among various
levels in the current period, the reasons for change and the policy determining the conversion point
7. Valuation techniques change occurred during the current period and the reasons for change
8. The fair value situations of the financial assets and financial liabilities not measured by the fair value
9. Other
XII. 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
Investment and
Shandong management,
State-owned Assets management and
Jinan Shandong RMB 4,500,000,000 33.07% 33.07%
Investment Holding operation of assets,
Company Limited managed operations,
investment advisory
Explanation on parent company of the enterprise
Ultimate controller of the Company is Shandong State-owned Assets Investment Holdings Co., Ltd.
Other explanation:
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山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
2. Subsidiary of the Enterprise
Found more in Note IX. 1.” Equity in subsidiary”
3. Cooperative enterprise and joint venture
Found more in Note.
Other cooperative enterprise and joint venture that have related transaction with the Company in the Period or occurred in previous
period
Name Relationship
Other explanation
4. Other related party
Other related party Relationship with the Enterprise
Shandong Luxin Investment Holding Company Limited Shareholders with over 5% shares held
Other explanation
5. Related transaction
(1) Goods purchasing, labor service providing and receiving
Goods purchasing/labor service receiving
In RMB
Whether over the
Amount of this Trading limit
Related party Content approved limited or Amount of last period
period approved
not
Goods sold/labor service providing
In RMB
Related party Content Amount of this period Amount of last period
Explanation on goods purchasing, labor service providing and receiving
In RMB
(2)Related trusteeship management/contracts and entrusted management/outsourcing
Statement of trusteeship management/contract:
In RMB
Managed Managed
Client/Contract-o Entrusting Trustee/assts
Trustee /start Trustee /ends earnings /pricing earnings
ut party party/Contractor contract
of the contract confirmed in the
120
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
earnings period / contract
earnings
Related managed/contract:
Entrusted management/outsourcing:
In RMB
Entrusted
Trustee fee / earnings
Client/Contract-o Entrusting Entrust /assets
Entrust /start Entrust /ends pricing of the confirmed in the
ut party party/Contractor outsourcing
outsourcing period /
outsourcing costs
Related management/ outsourcing:
(3) Related lease
As a lessor for the Company:
In RMB
Lease income in recognized in Lease income in recognized last
Lessee Assets type
the Period the Period
As a lessee for the Company:
In RMB
Lease income in recognized in Lease income in recognized last
Lessor Assets type
the Period the Period
Explanation on related lease
(4) Related guarantee
As the guarantor
In RMB
Secured party Amount guarantee Start End Completed or not (Y/N)
As the secured party
In RMB
Guarantor Amount guarantee Start End Completed or not (Y/N)
Shandong State-owned
Assets Investment
100,000,000.00 2017-04-28 2017-09-27 N
Holding Company
Limited
Explanation on related guarantee
121
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
(5) Related party’s fund loan
In RMB
Related party Fund loan Start End Note
Borrowing
Lending
(6) Related party’s assets transfer and debt reorganization
In RMB
Related party Content Current Period Last Period
(7) Remuneration of key manager
In RMB
Items Current Period Last Period
Total remuneration 1,078,527.06 1,055,088.22
(8) Other related transactions
6. Receivable/payable items of related parties
(1) Receivable item
In RMB
Closing balance Opening balance
Item Related party
Book balance Bad debt reserves Book balance Bad debt reserves
(2) Payable item
In RMB
Item Related party Ending book balance Opening book balance
7. Commitments of related party
8. Other
XIII. Share-based payment
1. Share-based payment
□ Applicable √ Not applicable
122
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
2. Share-based payment settled by equity
□ Applicable √ Not applicable
3. Share-based payment settled by cash
□ Applicable √ Not applicable
4. Amendment and termination of the share-based payment
5. Other
XIV. Commitment or contingency
1. Important commitment
Important commitment on balance sheet date
Nil
2. Contingency
(1) Contingency on balance sheet date
Nil
(2) if the Company has no contingency need to disclosed, explain reasons
The Company has no important contingency that need to disclosed
3. Other
XV. Event occurring after balance sheet date
1. Important non-adjusting events
In RMB
Impact on financial status and Reasons of unable to estimated
Item Content
operation results the impact
2. Profit distribution
In RMB
123
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
3, Sales return
XVI. Other important event
1. Error correction for previous period
(1) Retrospective restatement
In RMB
Item with impact in statement
Correction content Treatment procedure Cumulative impact
in every comparative period
(2) Prospective application
Correction content Approval procedure Cause of prospective application adoption
2. Debt reorganization
3. Assets replacement
(1) exchange of non-monetary assets
(2) other assets replacement
4. Pension plan
5. Discontinuing operation
In RMB
Profit of
discontinuing
Income tax operation
Item Revenue Expenses Total profit Net profit
expenses attributable to
owners of parent
company
Other explanation
6. Segment information
(1) determination basis and accounting policy for segment
(2) Financial information of the segment
In RMB
124
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Item Offset between segment Total
(3) If the Company has no segment reporting, or unable to disclosed the total assets and liabilities of the
segment, explain reasons
(4) Other explanation
7. Other important transactions and events shows impact on investor decision-making
8. Other
XVII. Principle notes of financial statements of parent company
1. Accounts receivable
(1)Category of account receivable
In RMB
Closing balance Opening balance
Book balance Bad debt reserves Book balance Bad debt reserves
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Account receivable
with bad debt 15,540,7 5,388,33 10,152,44 18,751, 5,689,018 13,062,916.
provision accrual by 83.49 8.81 4.68 934.01 .01 00
portfolio
15,540,7 5,388,33 10,152,44 18,751, 5,689,018 13,062,916.
Total
83.49 8.81 4.68 934.01 .01 00
Account receivable with major single amount and withdrawal bad debt provision single at period-end:
□ Applicable √ Not applicable
Account receivable with bad debt provision withdrawal by method of account age in portfolio:
√ Applicable □ Not applicable
In RMB
Closing balance
A/C age
Account receivable Bad debt reserves Accrual ratio
Sub-item of within one year
Subtotal of within one year 10,152,444.68
Over three years 5,388,338.81 5,388,338.81 100.00%
Total 15,540,783.49 5,388,338.81
Explanation on portfolio basis:
125
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
In combination, withdrawal proportion of bad debt provision based on balance proportion for account receivable:
□ Applicable √ Not applicable
In combination, withdrawal proportion of bad debt provision based on other methods for account receivable:
(2)Bad debt provision accrual, switch-back or taken back in reporting period
Amount accrual in the Period; amount 300,679.20 Yuan switch-back or taken back in the Period 。
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 Way
(3) Account receivables actually written-off during the reporting period
In RMB
Items Amount verified
Including major account receivables written-off:
In RMB
Occurred due to
Company Nature Amount verified Reasons Verified procedures related transaction
(Y/N)
Explanation on account receivable written-off :
(4)Top five receivables collected by arrears party at ending balance
Balance of bad debt
Company Ending balance Ratio in total receivable (%)
provision
Shandong Zhonglu Oceanic 9,968,835.00 64.15%
(Yantai) Food Co., Ltd.
PACIFIC PANDA,INC 3,600,962.12 23.17% 3,600,962.12
Qingdao Haifeng Gorup 430,625.10 2.77% 430,625.10
Limited
Lv Ming 158,154.98 1.02% 158,154.98
Daqun Company 156,875.50 1.01% 156,875.50
Total 14,315,452.70 4,346,617.70
(5)Account receivables derecognized due to financial assets transfer
(6)Transfer the account receivable and assets & liabilities arising from further involvement
Other explanation:
126
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
2. Other accounts receivable
(1)Category of other account receivable
In RMB
Closing balance Opening balance
Book balance Bad debt reserves Book balance Bad debt reserves
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Other account
receivable with bad 65,327,6 2,119,72 63,207,94 43,482, 3,571,189 39,910,882.
debt provision 71.34 3.98 7.36 072.02 .67 35
accrual by portfolio
65,327,6 2,119,72 63,207,94 43,482, 3,571,189 39,910,882.
Total
71.34 3.98 7.36 072.02 .67 35
Other account receivable with major single amount and withdrawal bad debt provision single at period-end:
□ Applicable √ Not applicable
Other account receivable with bad debt provision withdrawal by method of account age in portfolio:
√ Applicable □ Not applicable
In RMB
Closing balance
A/C age
Other receivable Bad debt reserves Accrual ratio
Sub-item of within one year
Subtotal of within one year 63,108,214.30 88,434.09
1-2 years 225,840.14 67,752.04
2-3 years 60,158.10 30,079.05
Over three years 1,933,458.80 1,933,458.80
Total 65,327,671.34 2,119,723.98
Explanation on portfolio basis:
In combination, withdrawal proportion of bad debt provision based on balance proportion for other account receivable
□ Applicable √ Not applicable
In combination, withdrawal proportion of bad debt provision based on other methods for other account receivable
□Applicable √ Not applicable
(2)Bad debt provision accrual, switch-back or taken back in reporting period
Amount accrual in the Period; amount 1,451,465.69 Yuan switch-back or taken back in the Period
Including major amount of bad debt provision that switch-back or taken back in the Period:
In RMB
127
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Company Amount switch-back or taken back Way
(3)Other receivables actually written-off during the reporting period
In RMB
Items Amount verified
Including major other account receivables written-off
In RMB
Occurred due to
Nature of other
Company Amount verified Reasons Verified procedures related transaction
receivables
(Y/N)
Explanation on write-off of other receivables:
(4) Other receivables by nature
In RMB
Nature Ending book balance Opening book balance
Intercourse funds and others 64,294,173.91 43,482,072.02
Employee’s borrowing 823,497.43
Leasing margin 210,000.00
Total 65,327,671.34 43,482,072.02
(5) top 5 other receivables collected by arrears party at ending balance
In RMB
Proportion in total
Ending balance of
Company Nature Ending balance Account age other receivables at
bad debt provision
year-end
Shandong Zhonglu
Fishery Shipping Co., Internal transactions 24,714,718.67 Over 2 years 38.00%
Ltd.
Shandong Zhonglu
Haiyan Oceanic Internal transactions 20,000,000.00 Within one year 31.00%
Fishery Co., Ltd.
YAWADDO
FISHERIES
Internal transactions 11,214,657.74 Within one year 17.00%
COMPANY
LIMITED
LAIF FISHERIES
Internal transactions 6,034,049.51 1-3 years 9.00%
CO.LTD
128
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Employee loans Personal loan 801,572.43 Within one year 1.00% 77,934.09
Total -- 62,764,998.35 -- 77,934.09
(6)Account receivable involved government subsidies
In RMB
Time, amount and basis
Company Name Ending balance Ending account age
estimated to received
(7)Other account receivables derecognized due to financial assets transfer
(8)Transfer the other account receivable and assets & liabilities arising from further involvement
Other explanation:
3. Long-term equity investment
In RMB
Closing balance Opening balance
Items Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Investment for
204,189,455.23 204,189,455.23 204,189,455.23 204,189,455.23
subsidiary
Total 204,189,455.23 204,189,455.23 204,189,455.23 204,189,455.23
(1) Investment for subsidiary
In RMB
Ending balance of
Increase during Decrease during Impairment
The invested entity Opening balance Closing balance impairment
the period this period accrual
provision
HabitatInternation
12,476,145.60 12,476,145.60
alCorporation
Shandong Zhonglu
Fishery Shipping 22,869,513.38 22,869,513.38
Co., Ltd.
Shandong Zhonglu
Oceanic (Yantai) 55,448,185.24 55,448,185.24
Food Co., Ltd.
Shandong Zhonglu
113,395,611.01 113,395,611.01
Haiyan Oceanic
129
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
Fishery Co., Ltd.
Total 204,189,455.23 204,189,455.23
(2) Investment for associates and joint venture
In RMB
+,-
Ending
Other Cash
Investme balance
Additiona comprehe dividend
Opening nt gains Other Closing of
Company l Capital nsive or profit Impairme
balance recognize equity Other balance impairme
investmen reduction income announce nt accrual
d under change nt
t adjustmen d to
equity provision
t issued
I. Joint venture
II. Associated enterprise
(3) Other explanation
4. Operating income and cost
In RMB
Current Period Last Period
Items
Income Cost Income Cost
Main business 57,174,319.09 43,119,825.36 11,269,475.74 16,789,134.08
Other business 2,364,952.79 718,241.91 2,873,525.90 843,405.00
Total 59,539,271.88 43,838,067.27 14,143,001.64 17,632,539.08
Other explanation:
5. Investment gains
In RMB
Items Current Period Last Period
6. Other
XVIII. Supplementary Information
1. Current non-recurring gains/losses
√ Applicable □ Not applicable
In RMB
130
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Item Amount Note
Gains/losses from the disposal of
262,376.43 Revenue from vehicles disposal
non-current asset
Governmental subsidy reckoned into current
gains/losses (not including the subsidy
Subsidy for construction of the Blue
enjoyed in quota or ration according to 433,402.16
Economic Zone
national standards, which are closely
relevant to enterprise’s business)
Other non-operating income and expenditure
-85,202.83
except for the aforementioned items
Total 610,575.76 --
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
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
5.05% 0.12 0.12
stockholders of the Company
Net profits belong to common stock
stockholders of the Company after
4.95% 0.12 0.12
deducting nonrecurring gains and
losses
3. 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
(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
131
山东省中鲁远洋渔业股份有限公司 2017 年半年度报告全文
(3) Explain accounting difference over the accounting rules in and out of China; as for the difference
adjustment for data audited by foreign auditing organ, noted the name of such foreign organ
4. Other
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Section XI Documents available for reference
(i) The financial statement of the Company with signature and seal from the person in charge of the Company,
person in charge of the accounting works and person in charge of accounting;
(ii) Original audit report (if applicable) with seal of the CPA and signature and seal of the accountant;
(iii) Original text of all documents of the Company as well as manuscript of the announcement that disclosed on
website appointed by CSRC
Shandong Zhonglu Oceanic Fisheries Co., Ltd.
President: Chi Weizhen
31 August 2017
133
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