深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
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 Shenzhen China Bicycle Company (Holdings) Limited
2017-06-30
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 15,177,305.48 24,015,287.71
Settlement provisions
Capital lent
Financial assets measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes receivable 5,139,578.00 2,220,000.00
Accounts receivable 10,621,799.74 12,371,386.82
Accounts paid in advance 1,496,894.88 1,867,424.89
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Interest receivable
Dividend receivable
Other receivables 593,588.25 658,754.09
Purchase restituted finance asset
1
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Inventories 6,085,173.94 3,118,440.26
Divided into assets held for sale
Non-current asset due within one
year
Other current assets 2,555,611.75 2,050,830.55
Total current assets 41,669,952.04 46,302,124.32
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
Fixed assets 3,615,758.14 3,728,955.11
Construction in progress
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets 2,635,500.00 3,012,000.00
Expense on Research and
Development
Goodwill
Long-term expenses to be
apportioned
Deferred income tax asset 633,566.88 645,196.29
Other non-current asset 400,000.00 400,000.00
Total non-current asset 7,284,825.02 7,786,151.40
Total assets 48,954,777.06 54,088,275.72
Current liabilities:
Short-term loans
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
2
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Derivative financial liability
Notes payable
Accounts payable 11,751,606.32 9,751,977.78
Accounts received in advance 2,031,423.43 4,321,059.83
Selling financial asset of
repurchase
Commission charge and
commission payable
Wage payable 641,747.85 770,985.97
Taxes payable 419,444.08 1,565,153.77
Interest payable
Dividend payable
Other accounts payable 18,956,010.14 20,397,287.32
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Divided into liability held for sale
Non-current liabilities due within 1
year
Other current liabilities
Total current liabilities 33,800,231.82 36,806,464.67
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital
securities
Long-term account payable
Long-term wages payable
Special accounts payable
Projected liabilities
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities
Total liabilities 33,800,231.82 36,806,464.67
3
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Owner’s equity:
Share capital 551,347,947.00 551,347,947.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 627,834,297.85 627,834,297.85
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus public reserve 32,673,227.01 32,673,227.01
Provision of general risk
Retained profit -1,199,178,166.72 -1,197,486,788.28
Total owner’s equity attributable to
12,677,305.14 14,368,683.58
parent company
Minority interests 2,477,240.10 2,913,127.47
Total owner’s equity 15,154,545.24 17,281,811.05
Total liabilities and owner’s equity 48,954,777.06 54,088,275.72
Legal Representative: Li Hai Person in charge of Accounting Works: Sun Longlong
Person in charge of Accounting Institution: Zhong Xiaojin
2. Balance Sheet of Parent Company
In RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 1,391,537.61 1,143,418.29
Financial liability measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes receivable
Accounts receivable
Account paid in advance 16,000.00
Interest receivable
Dividends receivable
4
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Other receivables 7,035,631.74 9,364,086.29
Inventories
Divided into assets held for sale
Non-current assets maturing within
one year
Other current assets 2,391,678.18 2,050,830.55
Total current assets 10,818,847.53 12,574,335.13
Non-current assets:
Available-for-sale financial assets
Held-to-maturity investments
Long-term receivables
Long-term equity investments 10,379.73 10,379.73
Investment property
Fixed assets 3,410,303.75 3,528,684.59
Construction in progress
Project materials
Disposal of fixed assets
Productive biological assets
Oil and natural gas assets
Intangible assets 2,635,500.00 3,012,000.00
Research and development costs
Goodwill
Long-term deferred expenses
Deferred income tax assets
Other non-current assets 400,000.00 400,000.00
Total non-current assets 6,456,183.48 6,951,064.32
Total assets 17,275,031.01 19,525,399.45
Current liabilities:
Short-term borrowings
Financial liability measured by fair
value and with variation reckoned into
current gains/losses
Derivative financial liability
Notes payable
Accounts payable 7,440.00
5
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Accounts received in advance 1,086,507.70
Wage payable 112,724.95 112,700.06
Taxes payable 78,934.95 81,512.92
Interest payable
Dividend payable
Other accounts payable 10,168,473.15 10,662,912.89
Divided into liability held for sale
Non-current liabilities due within 1
year
Other current liabilities
Total current liabilities 10,367,573.05 11,943,633.57
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital
securities
Long-term account payable
Long-term wages payable
Special accounts payable
Projected liabilities
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities
Total liabilities 10,367,573.05 11,943,633.57
Owners’ equity:
Share capita 551,347,947.00 551,347,947.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 627,834,297.85 627,834,297.85
Less: Inventory shares
Other comprehensive income
6
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Reasonable reserve
Surplus reserve 32,673,227.01 32,673,227.01
Retained profit -1,204,948,013.90 -1,204,273,705.98
Total owner’s equity 6,907,457.96 7,581,765.88
Total liabilities and owner’s equity 17,275,031.01 19,525,399.45
3. Consolidated Profit Statement
In RMB
Item Current Period Last Period
I. Total operating income 48,929,676.27 65,774,013.33
Including: Operating income 48,929,676.27 65,774,013.33
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 51,337,023.25 65,399,767.36
Including: Operating cost 45,686,272.83 60,321,233.37
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 91,353.05 71,125.39
Sales expenses 2,468,701.87 3,228,182.36
Administration expenses 3,339,531.50 2,348,640.07
Financial expenses -201,564.91 -544,525.55
Losses of devaluation of asset -47,271.09 -24,888.28
Add: Changing income of fair
value(Loss is listed with “-”)
Investment income (Loss is listed
7
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
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
-2,407,346.98 374,245.97
“-”)
Add: Non-operating income 291,710.58 342,089.82
Including: Disposal gains of
non-current asset
Less: Non-operating expense 1,509.00
Including: Disposal loss of
non-current asset
IV. Total Profit (Loss is listed with “-”) -2,115,636.40 714,826.79
Less: Income tax expense 11,629.41 195,895.21
V. Net profit (Net loss is listed with “-”) -2,127,265.81 518,931.58
Net profit attributable to owner’s of
-1,691,378.44 448,356.29
parent company
Minority shareholders’ gains and
-435,887.37 70,575.29
losses
VI. Net after-tax of other comprehensive
income
Net after-tax of other comprehensive
income attributable to owners of parent
company
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1. Changes as a result of
re-measurement of net defined benefit
plan liability or asset
2. Share of the other
comprehensive income of the investee
accounted for using equity method which
will not be reclassified subsequently to
profit and loss
(II) Other comprehensive income
items which will be reclassified
8
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
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
Net after-tax of other comprehensive
income attributable to minority
shareholders
VII. Total comprehensive income -2,127,265.81 518,931.58
Total comprehensive income
-1,691,378.44 448,356.29
attributable to owners of parent Company
Total comprehensive income
-435,887.37 70,575.29
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share -0.0031 0.0008
(ii) Diluted earnings per share -0.0031 0.0008
Enterprise combine under the same control in the Period, the combined party realized net profit of 0 Yuan before combination, and
realized 0 Yuan at last period for combined party
Legal Representative: Li Hai Person in charge of Accounting Works:Sun Longlong
Person in charge of Accounting Institution: Zhong Xiaojin
4. Profit Statement of Parent Company
In RMB
Item Current Period Last Period
9
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
I. Operating income 3,228,905.96 3,476,770.26
Less: Operating cost 1,994,075.80 2,092,043.56
Operating tax and extras 27,518.91
Sales expenses
Administration expenses 2,165,755.45 1,314,903.41
Financial expenses 2,461.63 172.23
Losses of devaluation of asset
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
-933,386.92 42,132.15
with “-”)
Add: Non-operating income 259,079.00 337,615.00
Including: Disposal gains of
non-current asset
Less: Non-operating expense 1,509.00
Including: Disposal loss of
non-current asset
III. Total Profit (Loss is listed with
-674,307.92 378,238.15
“-”)
Less: Income tax expense 94,557.55
IV. Net profit (Net loss is listed with
-674,307.92 283,680.60
“-”)
V. Net after-tax of other comprehensive
income
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1. Changes as a result of
re-measurement of net defined benefit
plan liability or asset
2. Share of the other
comprehensive income of the investee
accounted for using equity method
10
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
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 -674,307.92 283,680.60
VII. Earnings per share:
(i) Basic earnings per share -0.0012 0.0005
(ii) Diluted earnings per share -0.0012 0.0005
5. Consolidated Cash Flow Statement
In RMB
Item Current Period Last Period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 23,451,451.79 26,522,475.87
services
Net increase of customer deposit
and interbank deposit
11
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
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
Other cash received concerning
2,324,298.02 3,684,052.35
operating activities
Subtotal of cash inflow arising from
25,775,749.81 30,206,528.22
operating activities
Cash paid for purchasing
commodities and receiving labor 23,835,363.39 25,154,241.71
service
Net increase of customer loans and
advances
Net increase of deposits in central
bank and interbank
Cash paid for original insurance
contract compensation
Cash paid for interest, commission
charge and commission
Cash paid for bonus of guarantee
slip
Cash paid to/for staff and workers 3,517,233.68 3,469,307.38
Taxes paid 1,649,135.49 1,339,712.12
12
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Other cash paid concerning
5,580,059.48 4,991,881.79
operating activities
Subtotal of cash outflow arising from
34,581,792.04 34,955,143.00
operating activities
Net cash flows arising from operating
-8,806,042.23 -4,748,614.78
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
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from investing
activities
Cash paid for purchasing fixed,
31,940.00 2,959,824.00
intangible and other long-term assets
Cash paid for investment
Net increase of mortgaged loans
Net cash received from
subsidiaries and other units obtained
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
31,940.00 2,959,824.00
activities
Net cash flows arising from investing
-31,940.00 -2,959,824.00
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
investment
Including: Cash received from
absorbing minority shareholders’
13
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
investment by subsidiaries
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
Cash paid for dividend and profit
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
activities
Net cash flows arising from financing
activities
IV. Influence on cash and cash
equivalents due to fluctuation in
exchange rate
V. Net increase of cash and cash
-8,837,982.23 -7,708,438.78
equivalents
Add: Balance of cash and cash
24,015,287.71 26,752,065.66
equivalents at the period -begin
VI. Balance of cash and cash
15,177,305.48 19,043,626.88
equivalents at the period -end
6. Cash Flow Statement of Parent Company
In RMB
Item Current Period Last Period
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor
services
Write-back of tax received
14
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Other cash received concerning
4,981,778.23 7,109,161.66
operating activities
Subtotal of cash inflow arising from
4,981,778.23 7,109,161.66
operating activities
Cash paid for purchasing
commodities and receiving labor 32,356.80
service
Cash paid to/for staff and workers 1,439,294.18 1,005,191.83
Taxes paid 186,158.39 242,875.18
Other cash paid concerning
3,108,206.34 2,949,997.90
operating activities
Subtotal of cash outflow arising from
4,733,658.91 4,230,421.71
operating activities
Net cash flows arising from operating
248,119.32 2,878,739.95
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
assets
Net cash received from disposal of
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from investing
activities
Cash paid for purchasing fixed,
2,959,824.00
intangible and other long-term assets
Cash paid for investment
Net cash received from
subsidiaries and other units
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing 2,959,824.00
15
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
activities
Net cash flows arising from investing
-2,959,824.00
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
Cash paid for dividend and profit
distributing or interest paying
Other cash paid concerning
financing activities
Subtotal of cash outflow from financing
activities
Net cash flows arising from financing
activities
IV. Influence on cash and cash
equivalents due to fluctuation in
exchange rate
V. Net increase of cash and cash
248,119.32 -81,084.05
equivalents
Add: Balance of cash and cash
1,143,418.29 1,199,934.09
equivalents at the period -begin
VI. Balance of cash and cash
1,391,537.61 1,118,850.04
equivalents at the period -end
7. Statement of Changes in Owners’ Equity (Consolidated)
This Period
In RMB
16
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
This Period
Owners’ equity attributable to parent company
Other
equity instrument
Item Less: Other Provisio Minorit Total
Perpet Reason
Share Capital Invento compre Surplus n of Retaine y owners’
ual able
capital Prefer capita reserve ry hensive reserve general d profit interests equity
red Other reserve
l shares income risk
stock
securi
ties
551,34 -1,197,4
I. Balance at the 627,834 32,673, 2,913,1 17,281,
7,947. 86,788.
end of the last year ,297.85 227.01 27.47 811.05
00 28
Add:
Changes of
accounting policy
Error
correction of the
last period
Enterprise
combine under
the same control
Other
II. Balance at the 551,34 627,834 32,673,
-1,197,4
2,913,1 17,281,
beginning of this 7,947. 86,788.
,297.85 227.01 27.47 811.05
year 00 28
III. Increase/
Decrease in this -1,691,3 -435,88 -2,127,2
year (Decrease is 78.44 7.37 65.81
listed with “-”)
(i) Total -1,691,3 -435,88 -2,127,2
comprehensive
78.44 7.37 65.81
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
17
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
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 551,34 -1,199,1
627,834 32,673, 2,477,2 15,154,
end of the report 7,947. 78,166.
,297.85 227.01 40.10 545.24
period 00 72
Last Period
In RMB
Last Period
Owners’ equity attributable to 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
18
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
stock capita
l
securi
ties
551,34 -1,200,0
I. Balance at the 627,834 32,673, 1,625,1 13,390,
7,947. 90,425.
end of the last year ,297.85 227.01 85.21 231.32
00 75
Add:
Changes of
accounting policy
Error
correction of the
last period
Enterprise
combine under
the same control
Other
II. Balance at the 551,34 -1,200,0
627,834 32,673, 1,625,1 13,390,
beginning of this 7,947. 90,425.
,297.85 227.01 85.21 231.32
year 00 75
III. Increase/
Decrease in this 2,603,6 1,287,9 3,891,5
year (Decrease is 37.47 42.26 79.73
listed with “-”)
(i) Total 2,603,6 1,287,9 3,891,5
comprehensive
37.47 42.26 79.73
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
19
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
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 551,34 -1,197,4
627,834 32,673, 2,913,1 17,281,
end of the report 7,947. 86,788.
,297.85 227.01 27.47 811.05
period 00 28
8. Statement of Changes in Owners’ Equity (Parent Company)
This Period
In RMB
This Period
Other
equity instrument
Other Total
Item Share Perpetu Less: Retaine
Capital comprehe Reasonab Surplus
al Inventory owners’
capital Preferre reserve nsive le reserve reserve d profit
capital Other shares equity
d stock income
securiti
es
-1,204,2
I. Balance at the 551,347, 627,834,2 32,673,22 7,581,765
73,705.
end of the last year 947.00 97.85 7.01 .88
98
20
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Add: Changes
of accounting
policy
Error
correction of the
last period
Other
II. Balance at the 551,347, -1,204,2
627,834,2 32,673,22 7,581,765
beginning of this 73,705.
947.00 97.85 7.01 .88
year 98
III. Increase/
Decrease in this -674,30 -674,307.
year (Decrease is 7.92 92
listed with “-”)
(i) Total -674,30 -674,307.
comprehensive
7.92 92
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
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
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 551,347, -1,204,9
627,834,2 32,673,22 6,907,457
end of the report 48,013.
947.00 97.85 7.01 .96
period 90
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
-1,203,8
I. Balance at the 551,347, 627,834,2 32,673,22 7,983,327
72,144.
end of the last year 947.00 97.85 7.01 .03
83
Add: Changes
of accounting
policy
Error
correction of the
last period
Other
II. Balance at the 551,347, -1,203,8
627,834,2 32,673,22 7,983,327
beginning of this 72,144.
947.00 97.85 7.01 .03
year 83
III. Increase/
Decrease in this -401,56 -401,561.
year (Decrease is 1.15 15
listed with “-”)
22
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
(i) Total -401,56 -401,561.
comprehensive
1.15 15
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
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
IV. Balance at the 551,347, -1,204,2
627,834,2 32,673,22 7,581,765
end of the report 73,705.
947.00 97.85 7.01 .88
period 98
III. Company Profile
1. History and Reform
According to the Approval Document SFBF (1991) No. 888 issued by the People’s Government of Shenzhen,
Shenzhen China Bicycle Company (Holdings) Limited (hereinafter referred to as the Company) was
reincorporated as the company limited by shares in November 1991. On 28 December 1991, upon the Approval
Document SRYFZ(1991) No. 119 issued by Shenzhen Special Economic Zone Branch of the People’s Bank of
China, the Company got listed on Shenzhen Stock Exchange. The Company reserves the business license for the
enterprise legal person (QGYSZFZ No.101165) [Uniform social credit code: 914403006188304524] and the
registered capital of RMB551, 347,947.00.
2. Industry nature
The company's industry: machinery manufacturing industry
3. Business scope
The production and assembly of various bicycles and spare parts, components, parts, mechanical product, sport
machinery, fine chemicals, carbon fiber composites material, household electrical appliance and affiliated
components (products management by license excluded).
4. Major products and services provided
The Company is specialized in making the middle-top rank bicycles, the main brands are EMMELLE and various
electrical bicycles.
5. Business change
During the reporting period, the company's main business has not changed.
6. Disclosure date approved
The financial statement approved for report has been deliberated by the second meeting of 10th BOD held 28
August 2017
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
IV. Compilation Basis of Financial Statement
1. Compilation Basis
The financial statement is prepared based on continuing operation assumptions, and according to actual
occurrence, in line with relevant accounting rules and follow important accounting policy and estimation.
2. Going concern
On 11 May 2012, the largest shareholder and biggest creditor of the Company, Shenzhen Guocheng Energy
Investment Development Co., Ltd. applied to Shenzhen Municipal Intermediate People's Court for reforming the
Company as the Company couldn’t pay off the matured debts and was seriously insolvent. On 12 th, Oct., 2012,
Shenzhen Municipal Intermediate People's Court ruled to accept the application proposed by Guocheng Energy
according to (2012) Shenzhen Intermediate Court Po Zi No. 30 civil ruling. On the last ten-day of October 2012,
Shenzhen Municipal Intermediate People's Court ruled to reform the Company since 25 th, Oct., 2012 according to
(2012) Shenzhen Intermediate Court Po Zi No. 30-1 civil ruling, appointed King & Wood (Shenzhen) Mallesons
and Shenzhen ZhengYuan Liquidation Affairs Co., Ltd. as the custodians of the Company. On the same day,
Shenzhen Municipal Intermediate People's Court made (2012) Shenzhen Intermediate Court Po Zi No. 30-1
written decision, and approved the Company to manage property and business affairs by itself under the
supervision of custodians according to the law. On 5 November 2013, the Shenzhen Intermediate People’s Court
(2012) Shen Zhong Fa Po Zi No. 30-6 Civil Ruling Paper judged that approved the reorganization plan of the
Company. On 27 December 2013, the Civil Ruling Paper Shenzhen Intermediate People’s Court (2012) Shen
Zhong Fa Po Zi No. 30-10 ruled that the reorganization plan of CBC was completed and bankruptcy procedures of
CBC closed down.
The Company has solved the debt problem by reforming, realized the net assets with positive value, the main
business of bicycle is able to be maintained and realizes the stable development. The Company has set up the
conditions for introducing the recombination party in the reforming plan, and expects to restore the abilities of
sustainable operation and sustained profitability by reorganization. The conditions of introducing the
recombination party includes: the assessed value of net assets should be no less than 2 billion Yuan, the net assets
in the same year for implementing the major reorganization should be no less than 200 million Yuan. The
Company doesn’t have the recombination party at the moment.
V. Main accounting policy and Accounting Estimate
Tips for specific accounting policy and estimate:
Nil
1. Declaration on compliance with accounting standards
The financial statement prepared by the Company, based on follow compilation basis, is comply with the
requirement of new accounting standards for business enterprise issued by Ministry of Finance and its application
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
guide, commentate as well as other regulations (called by a joint name as Accounting Standards for Business
Enterprise), which is reflect a real and truth financial status of the Company, as well as operation results and cash
flow situations.
Furthermore, the statement has reference to the listing and disclosure requirement from “Rules Governing the
Disclosure of Information for Enterprise with Stock Listed No.15-general regulation of financial report” (2014
Revised) (hereinafter referred to as NO. 15 (2014 Revised) document)
2. Accounting period
Calendar year is the accounting period for the Company, that is falls to the range starting from 1 January to 31
December.
3. Business cycles
The business period for the Company, that is falls to the range starting from 1 January to 31 December.
4. Recording currency
The Company and its subsidiaries take RMB as the standard currency for bookkeeping.
5. Accounting treatment for business combinations under the same control and those not under the same
control
(1) Accounting treatment for business combinations under the same control and those not under the same control
① The business combination under the same control
For a business merger that is under the same control and is achieved by the Company through one single
transaction or multiple transactions, assets and liabilities obtained from that business combination shall be
measured at their book value at the combination date as recorded by the party being absorbed in the consolidated
financial statement of ultimate controlling party. Capital reserve shall be adjusted as per the difference between
the book value of obtained net assets and the book value of paid consolidated consideration (or the nominal value
of the issued shares) of the Company; retained earnings shall be adjusted if the capital reserve is not sufficient for
offset.
The asset or liability items of consolidated party are measured at their carrying value in the consolidated balance
sheet as of the consolidation date. Consolidated Profit and Loss include all items of income, expenditures and
profit from beginning till end of the period of the consolidated party(ies). Net profit made by the consolidated
company should be listed exclusively in the consolidated Profit and Loss. Cash flows from beginning till end of
the period of all consolidated parties are taken into the consolidated Cash Flow.
②The business combinations not involving enterprises under common control
The Company will validate the difference that the combined cost is more than the fair value of the net identifiable
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
assets gained from the acquiree on the acquisition date as goodwill; where the combined cost is less than the fair
value of net identifiable assets gained from the acquiree during business combination, the fair value and combined
cost of various identifiable assets, liabilities and contingent liabilities from the acquiree must be rechecked. Where
the combined cost is, after the recheck, still less than the fair value of net identifiable assets gained from the
acquiree during business combination, the difference shall be charged to current profits and losses.
As for business combination not under common control and realized through multiple transactions and by steps,
the Company shall make accounting treatment as follows:
A. Adjust the initial investment cost of long-term equity investments. As for stock equities held before the
acquisition date accounted according to the equity method, re-measurement is carried out according to the fair
value of the equity on the acquisition date. The balance between the fair value and the book value is included
in the current investment income. If the acquiree’s stock equities held before the acquisition date involves
changes of other comprehensive incomes and other owner's equities under accounting with the equity method,
the balance between the fair value and the book value is included in the current investment income on the
acquisition date, excluding other comprehensive incomes incurred by changes due to re-measurement of net
liabilities or net assets of the defined benefit plan.
B. Confirm the goodwill (or include the amount in the profits and losses). The initial investment cost of long-term
equity investments adjusted in step 1 is compared with the fair value of net identifiable assets of the subsidiary
shared on the acquisition date. If the former is greater than the latter, the balance is confirmed as goodwill; if
the former is less than the latter, the balance is included in the current profits and losses.
(2)Loss of control of a subsidiary in multiple transactions in which it disposes equity interests of its subsidiary in
stages
①In determining whether to account for the multiple transactions as a single transaction
A parent shall consider all the terms and conditions of the transactions and their economic effects. One or more of
the following may indicate that the parent should account for the multiple arrangements as a single transaction:
A. Arrangements are entered into at the same time or in contemplation of each other;
B. Arrangements work together to achieve an overall commercial effect;
C. The occurrence of one arrangement is dependent on the occurrence of at least one other arrangement;
D. One arrangement considered on its own is not economically justified, but it is economically justified when
considered together with other arrangements.
②Accounting treatment for each of the multiple transactions forming part of a bundled transactions which
eventually results in loss of control the subsidiary during disposal of its subsidiary in stages
If each of the multiple transactions forms part of a bundled transactions which eventually results in loss of control
the subsidiary, these multiple transactions should be accounted for as a single transaction. In the consolidated
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
financial statements, the difference between the consideration received and the corresponding percentage of the
subsidiary’s net assets in each transaction prior to the loss of control shall be recognized in other comprehensive
income and transferred to the profit or loss when the parent eventually loses control of the subsidiary.
The remaining equity investment shall be re-measured at its fair value in the consolidated financial statements at
the date when control is lost. The difference between the total amount of consideration received from the
transaction that resulted in the loss of control and the fair value of the remaining equity investment and the share
of net assets of the former subsidiary calculated continuously from the acquisition date or combination date based
on the previous shareholding proportion, shall be recognized as investment income for the current period when
control is lost. The amount previously recognized in other comprehensive income in relation to the former
subsidiary’s equity investment should be transferred to investment income for the current period when control is
lost
③Accounting treatment for each of the multiple transactions NOT forming part of a bundled transactions which
eventually results in loss of control the subsidiary during disposal of its subsidiary in stages
If the Company doesn't lose control of investee, the difference between the amount of the consideration received
and the corresponding portion of net assets of the subsidiary shall be adjusted to the capital reserve (capital
premium) in the consolidated financial statements.
If the Company loses control of investee, the remaining equity investment shall be re-measured at its fair value in
the consolidated financial statements at the date when control is lost. The difference between the total amount of
consideration received from the transaction that resulted in the loss of control and the fair value of the remaining
equity investment and the share of net assets of the former subsidiary calculated continuously from the acquisition
date or combination date based on the previous shareholding percentage, shall be recognized as investment
income for the current period when control is lost. The amount previously recognized in other comprehensive
income in relation to the former subsidiary’s equity investment should be transferred to investment income for the
current period when control is lost.
6. Compilation method of consolidated financial statement
Consolidated financial statements are prepared by the Company in accordance with Accounting Standard for
Business Enterprise No. 33-Consolidated Financial Statements and based on financial statements of parent
company and its subsidiaries and other related information.
When consolidating the financial statements, the following items are eliminated: internal equity investment and
owners’ equity of subsidiaries, proceeds on internal investments and profit distribution of subsidiaries, internal
transactions, internal debts and claim. The accounting policies adopted by subsidiaries are the same as parent
company.
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
7. Classification of joint venture arrangement and accounting treatment for joint control
(1) Affirmation and classification of joint venture arrangement
Joint arrangement refers to an arrangement controlled by two or more than two participants. Joint venture
arrangement has the following characteristics: 1) Each participant is bound by the arrangement; 2) Two or more
participants carry out joint control on implementation of the arrangement. Any participant cannot control the
arrangement independently. Any participant for joint control can stop other participants or participant
combinations to independently control the arrangement.
Joint control refers to the sharing of control over certain arrangement under related agreements, and related
activities of the arrangement must be determined only when obtaining the unanimous consent of the parties
sharing control.
Joint venture arrangement is classified in to joint operation and joint venture. Joint operation refers to an
arrangement that a joint party enjoys assets related to the arrangement and bears liabilities related to the
arrangement. Joint venture refers to an arrangement that a joint party only has the power governing net assets of
the arrangement.
(2) Accounting treatment of joint venture arrangement
Joint venture participants should confirm the following items related to interest shares in joint venture and carry
out accounting settlement according to relevant provisions of the Accounting Standards for Business Enterprises:
1) confirm the assets held separately and confirm the assets held jointly based on shares; 2) confirm the liabilities
borne separately and confirm the liabilities borne jointly based on shares; 3) confirm the income incurred after
selling its shares in joint venture output; 4) confirm the income after selling the joint venture outputs based on
shares; 5) confirm the expenses incurred separately and confirm the expenses incurred in joint venture based on
shares.
Joint venture participants should carry out accounting settlement for investments of the joint venture according to
provisions of Accounting Standards for Enterprises No.2–Long-term Equity Investments.
8. Recognition of cash and cash equivalents
Cash equivalents refer to the short-term (generally due within three months since the date of purchase) highly
liquid investments that are readily convertible into known amounts of cash and that are subject to an insignificant
risk of change in value.
9. Foreign currency transaction and financial statement conversion
(1) Conversion for foreign currency transaction
When initially recognized, the foreign currency for the transaction shall be converted into CNY amount according
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
to the spot exchange rate on the date of transaction. For the foreign currency monetary items, conversion must be
based on the spot exchange rate on the balance sheet date and the exchange difference incurred from different
exchange rates, except for the exchange difference of principal and interest incurred due to foreign currency loan
related to acquisition or construction of assets that qualify for capitalization, shall be charged to current profits and
losses; foreign currency non-monetary items measured with historical cost are still converted as per the spot
exchange rate on the transaction date and keep the RMB amount unchanged; foreign currency non-monetary items
measured with fair value shall be converted as per the spot exchange rate on the date of determining the fair value
and the difference shall be charged to current profits and losses or other comprehensive income.
(2) Conversion of financial statements presented in foreign currencies
The asset and liability items in the balance sheet shall be converted at the spot exchange rate on the balance sheet
date; the owner’s equity items, except for the items of “undistributed profit”, shall be converted at the spot
exchange rate on the transaction date; the income and expenditure items in the profit statement shall be converted
at the spot exchange rate on the transaction date. The translation difference of foreign financial statements
conducted as above is recognized as other comprehensive incomes.
10. Financial instruments
Financial instruments comprise of financial assets, financial liabilities and equity instruments.
(1) Classification of financial instruments
Financial assets and financial liabilities are classified as follows by the management based on the purpose of
holding or assuming these assets or liabilities: financial assets or financial liabilities at fair value through profit or
loss, including financial assets or financial liabilities held for trading and those directly designated as at fair value
through profit or loss; held-to-maturity investments; receivables; available-for-sale financial assets and other
financial liabilities, etc.
(2) Recognition and measurement of financial instruments
①Financial assets and liabilities at fair value through profit and loss
The fair value (after deduction of cash dividend to be distributed and bonds interest to be received) of the
assets on the acquisition shall be adopted as initial recognized value, and related transaction expenses shall
be accounted into current profits and losses.
The interests and cash dividend received shall be recognized as investment gain during the period, and the
difference of fair value between initial and spot dates shall be accounted into current profits and losses at the
end of period.
On the disposal of the assets, the difference between the obtained price and the book value of investment
shall be recognized as investment gain, and the accumulated fair value profits and losses shall be accordingly
adjusted.
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
②Held to maturity investments
The fair value (after deduction of bond interests whose period has matured but not charged yet) plus the
related transactions fees represents the initial recognition value.
During the holding period, the interest income shall be calculated as and included into investment gain in
accordance with the amortized costs and the actual interest rate. The actual interest rate is determined at the
time of acquisition, and shall remain unchanged during the expected renewal period or any shorter period as
applicable.
Upon disposal, the difference between the cost of acquisition and the book value of the investment shall be
accounted into investment gain.
③Receivable accounts
The contract price charged to the buyers shall be recognized as initial value for those receivable accounts
which mainly comprise the receivable creditor’s right caused by the sale of goods and the providing of
labor services to external customers by the Company, and receivables in other companies excluding debt
instruments priced in active markets, includes but is not limited to receivable accounts and other receivables.
If characterized as of financing nature, the initial recognition shall be priced at the present value.
Upon disposal, the difference between the sale value and the book value of the receivable shall be accounted
into current profits and losses on its recovery or disposal.
④Financial assets available for sale
The fair value (lower than cash dividend to be distributed and bonds’ interest to be received) and relevant
transaction expenses of the assets on the acquisition shall be adopted as initial recognized value.
The interests and cash dividend received shall be recognized as investment income during the holding
period, and the difference of fair value between initial and spot dates shall be accounted into capital reserve
(other capital reserve).
Upon disposal, the difference between fair value and initial value shall be recognized as investment profits and
losses, and the accumulated changes in fair value from the disposal shall be at the same time transferred from the
shareholders’ equity to investment profits and losses.
⑤Other financial liabilities
The sum of the fair value and relevant transaction expenses is recognized as the initial recognition amount. The
amortized cost is used for subsequent measurement.
⑥Disposal of held-to-maturity investment or reclassification as financial assets available for sale:
Where the Company sells its outstanding held-to-maturity investment within the current accounting year or
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
re-classifies it as the amount of available-for-sale financial asset, and the amount is considerably large as
compared with the amount before such investment is sold or re-classified, the surplus of such investment shall be
re-classified as an available-for-sale financial asset. However, the following circumstances shall be excluded:
A. The date of sale or re-classification is quite near to the maturity date or the repo date of the said investment
(e.g., within 3 months prior to maturity) that any change of the market interest rate will produce little impact
upon the fair value of the said investment.
B. Enterprise has received almost all the initial principal of the investment according to the provisions on
repayment of the contract.
C. The sale or re-classification is caused by any independent event that the enterprise cannot control, is predicted
not to occur again and is hard to be reasonably predicted.
(3) Recognition and measurement of transfer of financial assets
With respect to transfer of financial assets, if an enterprise transfers substantially all the risks and rewards of
ownership of a financial asset to the transferee, the enterprise shall derecognize the financial assets. If an
enterprise retains substantially all the risks and rewards of ownership of a financial asset, the enterprise shall not
derecognize the financial asset.
When making judgment on whether a transfer of financial assets satisfy the above conditions for derecognition of
financial assets, the focus shall be put on substance, instead of the form. The Company shall divide transfer of
financial assets into transfer in full or in part. For a transfer of a financial asset in its entirety that satisfies the
derecognizing criteria, the difference between the following two amounts shall be recognized in profit or loss for
the current period:
①the book value of the financial asset transferred;
②The sum of the consideration received from the transfer and any cumulative gain or loss that had been
recognized directly in owner’s equity (applicable to transfer of available-for-sale financial assets).
If a part of the transferred financial asset qualifies for derecognizing, the book value of the transferred financial
asset in its entirety shall be allocated between the part that continues to be recognized and the part that is
derecognized, based on the relative fair values of those parts. The difference between the following two amounts
shall be included in profit or loss for the current period:
①the book value allocated to the part derecognized;
②the sum of the consideration received for the part derecognized and any cumulative gain or loss allocated to it
that had been recognized directly in equity (applicable to transfer of available-for-sale financial assets).
If a transfer of financial assets do not satisfy the derecognition conditions, the company shall continue to
recognize the financial assets, and the consideration received shall be included as financial liabilities.
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
(4) Conditions for derecognizing financial liabilities
If the current obligations of financial liabilities has been lifted in whole or in part, then the Company shall
derecognize the financial liabilities in whole or in part thereof; if the Company signs an agreement with
creditors in order to take on new ways to replace the existing financial liabilities, and the new liabilities and
the existing financial terms are substantially different, the Company shall terminate recognizing the existing
financial liabilities, and begin to recognize the new financial liabilities at the same time.
If the terms of the contract involving the existing financial liabilities have been made with substantive
changes in whole or in part, the Company shall terminate recognizing the existing financial liabilities in
whole or in part, and at the same time, adopt the modified version of financial liabilities as a new one.
On derecognizing the financial liabilities in whole or in part, the difference between the book value of these
financial liabilities and the payment (including the roll-out of non-cash assets or new financial liabilities to
be assumed) shall be accounted into current profits and losses.
If buying back part of the financial liabilities, on the date of repurchase and in accordance with the comparative
fair value of the part to be continuously recognized and to be derecognized, the Company shall allocate the entire
financial liabilities. The difference between the part assigned to the derecognized book value and the payment
(including the roll-out of non-cash assets or new financial liabilities to be assumed) shall be included into profits
and losses of the current period.
(5)Determination of fair value of financial assets and liabilities
For financial assets and financial liabilities of the Company measured at fair value for which an active market
exists, their fair values are determined based on the prices quoted on the actively traded market; for financial
assets and financial liabilities for which no active market exists, their fair values are determined using valuation
techniques (including by reference to the price adopted by willing parties in their recent transactions or by
reference to the prevailing fair value, discount of cash flow method and option pricing model of other financial
instruments which are substantially the same); for financial assets initially obtained or derived or financial
liabilities assumed, fair value is determined based on market transaction prices.
(6) Provision for impairment reserve of financial assets (excluding accounts receivable)
On balance sheet date, the carrying amounts of financial assets (except for those measured at fair value through
profit or loss of the period) are assessed for impairment. Provision for impairment is made when there exists
objective evidence that impairment of a financial asset has occurred.
For financial assets, objective evidence of impairment includes, but not limited to:
①significant financial difficulty of the issuer or debtor;
②breach of contract, such as delinquency or default in interest and principal payments made by the debtor;
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
③the creditor, for economic or legal reasons, granting concession to the debtor in financial difficulty;
④it becoming probable that the debtor will enter bankruptcy or financial reorganization;
⑤the disappearance of an active market for that financial asset because of financial difficulties of the issuer;
⑥upon an overall assessment of a group of financial assets, observable data indicates that there is a measurable
decrease in the estimated future cash flows from the group of financial assets since the initial recognition of those
assets, although the decrease cannot yet be identified with the individual financial assets in the group. Such
observable data includes adverse change in the payment status of debtor of the group of assets, or increased
unemployment rate in the country or region where the debtor is located, decreased price of collateral in the region
where it belongs, recession in the industry, etc.;
⑦significant adverse changes in the technological, market, economic or legal environment in which the issuer of
equity instrument operates, indicating that the cost of the equity instrument investment may not be recovered by
the investor;
⑧a significant or prolonged decline in the fair value of the investment in equity instrument;
Specific method for impairment of financial assets:
①Impairment of available-for-sale financial asset
As for available-for-sale financial assets, in case that there is any objective evidence indicating available-for-sale
equity instrument investment is impaired (including fair value of equity instrument investment occurs significant
or non-temporary decline, impairment shall be recognized.
Where an available-for-sale financial asset is impaired, even if the recognition of the financial asset has not been
terminated, the accumulative losses arising from the decrease of the fair value of the owner’s equity which was
directly included shall be transferred out and recorded into the profits and losses of the current period. The
accumulative losses that are transferred out shall be the balance obtained from the initially obtained costs of the
sold financial asset after deducting the principals as taken back, the current fair value and the impairment-related
losses as was recorded into the profits and losses of the current period.
As for the available-for-sale debt instruments whose impairment-related losses have been recognized, if, within
the accounting period thereafter, the fair value has risen and are objectively related to the subsequent events that
occur after the originally impairment-related losses were recognized, the originally recognized impairment-related
losses shall be reversed and be recorded into the profits and losses of the current period. Impairment loss occurred
to available-for-sale equity instrument investment shall be reverted through equity when the value of the equity
instrument rises up. However, impairment loss in respect of equity instrument investment for which there is no
quoted price in an active market and for which fair value could not be measured reliably, or impairment loss in
relation to a derivative financial asset linked with the equity instrument for which the settlement shall be subject to
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
delivery of the equity instrument, shall not be reverted.
②Provision for impairment of held-to-maturity investments:
If there is objective evidence that indicates impairment has occurred on a held-to-maturity investment, the
difference between its carrying amount and the present value of its estimated future cash flow is recognized as
impairment loss. If there is subsequent evidence to prove that its value has recovered, the originally recognized
impairment loss may be reversed and recognized in profit or loss for the period, however the carrying amount so
reversed may not exceed the amortization cost of the financial asset at the date of reversal had there been no
provision for impairment.
11. Account receivable
(1) Account receivable with single significant amount and withdrawal single item bad debt provision
Account with single significant amount Over RMB 5 million
Conducted impairment testing separately, balance between the
present value of future cash flow and its carrying value, bad
Withdrawal method for bad debt provision of account
debt provision withdrawal and reckoned into current
receivable with single significant amount
gains/losses. For those without impairment being found after
test, collected into relevant combination for accrual.
(2) Accounts receivable whose bad debts provision was accrued by combination based on credit risk
characteristics portfolio
Combination Bad debt provision accrual
Aging of accounts group Age analysis method
Group with bad debt provision accrual by aging:
√ Applicable □ Not applicable
Age Accrual ratio Accrual ratio for other receivable
Within one year (one year included) 0.30% 0.30%
1－2 years 0.30% 0.30%
2－3 years 0.30% 0.30%
Over 3 years 100.00% 100.00%
3－4 years 100.00% 100.00%
4－5 years 100.00% 100.00%
Over 5 years 100.00% 100.00%
In combination, withdrawal proportion of bad debt provision based on balance proportion
□ Applicable √ Not applicable
In combination, withdrawal proportion of bad debt provision based on other methods:
□ Applicable √ Not applicable
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
(3) Account receivable with minor single amount but with withdrawal bad debt provision for single item
If any objective evidence shows that it may has impaired, such
as the debtor revoke, bankruptcy or death, and after liquidate
Reasons for provision of bad debt reserve
with bankrupt’s estates or heritage, the money still
un-collectable, and in sufficient of cash flow
As for the receivable with objective evidence shows that it
Provision method of bad debt reserve might be impaired, an independent impairment test may be
carried out for impairment losses recognized
12. Inventory
Whether the company needs to comply with the disclosure requirements of the particular industry
No
(1) Classification of inventory
The inventory of the Company refers to such seven classifications as the raw materials, product in process, goods
on hand, wrap page, low value consumables, materials for consigned processing and goods sold.
(2) Valuation of inventories
Inventories are initially measured at cost upon acquisition, which includes procurement costs, processing costs
and other costs. The prices of inventories are calculated using weighted average method when they are delivered.
(3) Inventory system
Perpetual inventory system is adopted.
(4) Provision for inventory impairment
When a comprehensive count of inventories is done at the end of the period, provision for inventory impairment is
allocated or adjusted using the lower of the cost of inventory and the net realizable value. The net realizable value
of stock in inventory (including finished products, inventory merchandize and materials for sale) that can be sold
directly is determined using the estimated saleable price of such inventory deducted by the cost of sales and
relevant taxation over the course of ordinary production and operation. The net realizable value of material in
inventory that requires processing is determined using the estimated saleable price of the finished product
deducted by the cost to completion, estimated cost of sales and relevant taxation over the course of ordinary
production and operation. The net realizable value of inventory held for performance of sales contract or labor
service contract is determined based on the contractual price; in case the amount of inventory held exceeds the
contractual amount, the net realizable value of the excess portion of inventory is calculated using the normal
saleable price.
Provision for impairment is made according to individual items of inventories at the end of the period; however,
for inventories with large quantity and low unit price, the provision is made by categories; inventories of products
that are produced and sold in the same region or with the same or similar purpose or usage and are difficult to be
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
measured separately are combined for provision for impairment.
If the factors causing a previous write-off of inventory value has disappeared, the amount written-off is reversed
and the amount provided for inventory impairment is reversed and recognized in profit or loss for the period.
13. Classified as assets held for sale
If a non-current asset can be promptly sold at its existing status only according to the practice terms in connection
with disposal of this kind of assets, and the Company has already made resolution on disposal of the non-current
asset and entered into irrevocable transfer agreement with the transferee, and this transfer will be completed
within one year, then the non-current asset would be calculated as non-current asset held for sale which would be
not applicable to depreciation or amortization since the date of classification as asset held for sale, and would be
measured at the lower of its carrying value less disposal cost and fair value less disposal cost. Non-current asset
held for sale consists of single item asset and disposal group. If a disposal group is a group of assets as defined by
No.8 of Business Accounting Standards-Assets Impairment, and goodwill arising from business combination shall
be allocated to the group of assets under this accounting principle, or the disposal group constitutes one operation
of the group of assets, then the disposal group includes the goodwill arising from business combination.
For single non-current asset and asset in disposal group classified as assets held for sale, they shall be presented in
balance sheet separately as current assets. For liabilities in disposal group relating to the transferred assets
classified as assets held for sale, they shall be presented in balance sheet separately as current liabilities.
If an asset or disposal group classified as held for sale no longer meets the recognition condition as non-current
asset held for sale, the Company will cease such recognition and measure the asset at the lower of (1)the carrying
value of the asset or disposal group prior to being classified as held for sale, based on the amount adjusted with
the depreciation, amortization or impairment which should have been recognized assuming it had not been
classified as held for sale; (2)the recoverable amount on the date when the Company decides to cease disposal.
14. Long-term equity investments
(1) Determination of investment costs
①If it is formed by the business combination under the common control, and that the combining party takes cash
payment, transfer of non-cash assets, assumption of debts or issuance of equity securities as the consolidation
consideration, the shares of the book value of the owner’s equity obtained from the combined party on the date of
combination in the ultimate controlling party’s consolidated financial statements shall be recognized as its initial
investment cost. Capital reserves shall be adjusted according to the balance between the initial investment cost for
long-term equity investment and the book value of paid consolidation consideration or the total face value of
issued shares (capital premium or equity premium). If capital reserves are insufficient for offset, retained earnings
shall be adjusted.
As for business combination under the common control realized by the Company through several transactions, the
initial investment cost of the investment shall be determined based on the share of the carrying value of the
owners’ equity of the consolidated party as calculated according to the shareholding proportion on the
consolidation date. Difference between initial investment cost and the carrying value of long-term equity
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
investment before combination and the sum of carrying value of newly paid consideration for additional shares
acquired on the date of combination is to adjust capital reserve (capital premium or equity premium). If the
balance of capital reserve is insufficient, any excess is adjusted to retained earnings.
②As for long-term equity investment formed from business combination not under common control, the fair
value of the consolidated consideration paid shall be deemed as the initial investment cost on the acquisition date.
③Except those ones formed by the business combination, for all items obtained by means of cash payment,
actually paid acquisition costs shall be taken as the initial investment cost. For those ones obtained by the issuance
of equity securities, the fair value of the issued equity securities shall be taken as the initial investment cost. For
those ones invested by investors, the value agreed in the investment contract or agreement shall be taken as the
initial investment cost, provided that the value agreed in the contract or agreement shall be fair.
(2) Subsequent measurement and profit or loss recognition
For a long-term equity investment where the Company can exercise control over the investee, the long-term
investment is accounted for using the cost method in the Company’s financial statements. The equity method is
adopted when the Group has joint control, or exercises significant influence on the investee.
Under cost method, long term equity investment is measured at initial investment cost. Except for the price
actually paid for obtaining the investment or the cash dividends or profits declared but not yet distributed which is
included in the consideration, the Company recognizes cash dividends or profits declared by the investee as
current investment gains, and determine whether there is impairment on long term investment according to
relevant assets impairment policies.
Under equity method, when the initial investment cost of the long-term equity investment exceeds the share of fair
value in the net identifiable assets in the investee, the difference shall be included in initial investment cost of the
long-term equity investment. When the initial investment cost is lower than the share of fair value in the net
identifiable asset in the investee, such difference is recognized in profit or loss for the period with adjustment of
cost of the long-term equity investment.
Under equity method, after the Company acquires a long-term equity investment, it shall, in accordance with its
attributable share of the net profit or loss realized by the investee, recognize the investment profit or loss and
adjust carrying value of the investment. The Group recognizes its share of the investee’s net profits or losses after
making appropriate adjustments to the investee’s net profits and losses based on the fair value of the investee’s
identifiable assets at the acquisition date, using the Group’s accounting policies and periods, and eliminating the
portion of the profits or losses arising from internal transactions with its joint ventures and associates, attributable
to the investing entity according to its shareholding proportion (but impairment losses for assets arising from
internal transactions shall be recognized in full). The carrying amount of the investment is reduced based on the
Group’s share of any profit distributions or cash dividends declared by the investee. The Group’s share of net
losses of the investee is recognized to the extent the carrying amount of the investment together with any
long-term interests that in substance form part of its net investment in the investee is reduced to zero, except that
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
the Group has the obligations to assume additional losses. The Group adjusts the carrying amount of the long-term
equity investment for any changes in owners’ equity of the investee (other than net profits or losses) and includes
the corresponding adjustments in the owners’ equity of the Group.
(3) Determination of control and significant influence on investee
Control is the power over an investee. An investor must have exposure or rights to variable returns from its
involvement with the investee, and the ability to use its power over the investee to affect the amount of the
investor’s returns. Significant influence is the power to participate in the financial and operating policy decisions
of the investee but is not control or joint control with other parties over those policies
(4) Disposal of long-term equity investment
①Partial disposal of long term investment in which control is retained
When long term investment is been partially disposed but control is retained by the company, the difference
between disposal proceeds and carrying amount of the proportion being disposed is accounted for through profit
or loss.
②Partial disposal of long term investment in which control is lost
When long term investment is partially disposed and control is lost as a result, the carrying value of the long term
invest on the stock right, the difference between carrying amount of the part being disposed and disposal proceeds
should be recognized as profit or loss. The residual part should be treated as long term investment or other
financial assets according to their carrying amount. After partial disposal, if the company is able to exert
significant influence or common control over the investee, the investment should be measured according to cost
method or equity method, in compliance with relevant accounting standards and regulations.
(5) Impairment test and provision for impairment
If there is objective evidence on the balance sheet date showing investment in subsidiaries, associates and joint
ventures is impaired, provision of impairment shall be made against the difference between the carrying amount
and the recoverable amount of the investment.
15. Investment property
Measurement mode
Measured by cost method
Depreciation or amortization method
Investment property refers to the real estate held with purpose of rent earning, capital appreciation or both
of them.
Investment properties of the Company include:
(1) Land use right which has been rented out;
(2) Land use right which is held for transfer upon appreciation;
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
(3) Buildings which has been rented out.
Investment property is initially measured at the cost when acquired. The Company makes subsequent
measurement on investment property under cost model on the balance sheet date. Depreciation method for
constructions and buildings under the item of fixed assets are the same, and amortization method for land use right
and land use right under the item of intangible assets are the same.
16. Fixed assets
(1) Confirmation conditions
Fixed assets refer to the tangible assets for production of products, provision of labor, lease or operation, and with a service life in
excess of 1 financial year.
Fixed assets may be recognized unless it simultaneously meets the conditions as follows:
①The economic benefits pertinent to the fixed asset are likely to flow into the enterprise; and
②The cost of the fixed assets can be measured reliably.
(2) Depreciation methods
Yearly depreciation
Categories Method Years of depreciation Scrap value rate
rate
Straight-line
Housing buildings 20 10% 4.5%
depreciation
Machines and Straight-line
10 10% 9%
equipment depreciation
Straight-line
Office equipment 5 10% 18%
depreciation
Straight-line
Electronic equipment 5 10% 18%
depreciation
Transportation Straight-line
5 10% 18%
equipment depreciation
Straight-line
Other equipment 5 10% 18%
depreciation
The fixed assets accrued full provisions for diminution in value should no long accrue the depreciation of fixed assets. The fixed
assets accrued provisions for diminution in value should deduct the accrued amounts of the provision for impairment of fixed assets,
and recalculate and confirm the depreciation rate and depreciation amount according to the useful life.
(3) Reorganization basis, valuation and depreciation method for financial lease assets
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and
rewards of asset ownership to the lessee and titles to the assets may or may not eventually be transferred. For
fixed assets acquired under finance leases, the basis for provision of leased assets depreciation is the same as that
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
of self-owned fixed assets. When it can be reasonably determined that the ownership of a leased asset will be
transferred at the end of the lease term, it is depreciated over the period of expected use; otherwise, the lease asset
is depreciated over the shorter period of the lease term and the period of expected use.
17. Project under Construction
(1) Class of construction in progress
Construction in progress is measured case by case.
(2) Standards and timing of carrying forward construction in progress into fixed assets
The initial book values of the fixed assets are stated at total expenditures incurred before construction in progress
reaching the working condition for their intended use. For construction in progress that has reached working
conditions for its intended use but for which the completion of settlement has not been handled, it shall be
transferred into fixed assets at the estimated value according to the project budget, construction price or actual
cost, etc. from the date when it reaches the working conditions for its intended use. And the fixed assets shall be
depreciated in accordance with the Company’s policy on fixed asset depreciation. Adjustment shall be made to the
originally and provisionally estimated value based on the actual cost after the completion of settlement is handled,
but depreciation already provided will not be adjusted.
18. Borrowing expenses
(1) Principles of recognizing capitalization of borrowing expenses
The borrowing expenses of the Company directly attributable to the construction or production of an asset
meeting capitalization conditions are capitalized and recognized in relevant asset costs; other borrowing expenses
are recognized as expenses based on the amount incurred and recognized in profit or loss for the period.
An asset that meets the capitalization conditions refers to fixed assets, real estate investments and inventories that
require a considerable amount of time for construction or production to reach the expected usable or saleable
condition.
Borrowing expenses are capitalized when all of the following conditions are met:
①the asset expense has occurred, which includes expenses in the form of cash paid, nonmonetary asset
transferred or interest-bearing obligations assumed for the construction or product of an asset that meets
capitalization conditions;
②the borrowing expenses have occurred;
③the necessary construction or production activities for bringing the asset to the expected usable or saleable
conditions have started.
Capitalization of borrowing expenses is suspended when any abnormal interruption continues for over three
months during the construction or production of an asset that meets capitalization conditions.
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
When the construction or production of an asset meeting capitalization conditions has reached expected useful or
saleable conditions, the capitalization of borrowing expenses is stopped.
When the a portion of the construction or production of an asset meeting capitalization conditions has completed
and can be used individually, the capitalization of borrowing expenses of such portion of asset is stopped.
(2) Capitalization period of borrowing expenses
Capitalization period refers to the time starting from the borrowing expenses are capitalized to the time
capitalization is stopped, except for the period which capitalization of borrowing expenses is suspended.
(3) Calculation of capitalized amount of borrowing expenses
Interest expenses of special loans (net of interest income from unutilized loans deposited in bank or investment
gain earned from temporary investment) and supplementary expenses incurred for the construction or production
of asset that meets capitalization conditions before the asset reaches expected useable or saleable condition are
capitalized.
The interest amount that should be capitalized on normal borrowings is calculated based on the weighted average
of expenses of the aggregate asset exceeding the expenses of the portion of special loan multiplied by the
capitalization ratio of the normal borrowings utilized. Capitalization ratio is calculated based on normal weighted
average interest rate.
19. Biological assets
Nil
20. Oil-and-gas assets
Nil
21. Intangible assets
(1) Valuation method, service life and impairment test
(1) Measurement of intangible assets
Intangible assets are accounted at the actual cost when acquired. The cost of externally purchased intangible assets
includes the purchase price, relevant taxation and other expenses directly attributable to bringing the asset to
expected usage. If payment for the price of intangible assets purchased is delayed beyond normal credit conditions
and is in fact financing in nature, the cost of the intangible asset is determined based on the present value of the
purchase price.
For intangible asset obtained through debt restructuring for offsetting the debt of the debtor, the entry value of the
intangible asset is determined based on its fair value, and the difference between the carrying amount of the
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
restructured debt and the fair value of the intangible asset used for offsetting the debt is recognized in profit or
loss for the period. The entry value of intangible asset received in an exchange for non-monetary asset is based on
the fair value of the asset surrendered, provided that the asset received in exchange for non-monetary asset has a
commercial substance and the fair value of both the asset received and the asset surrendered can be reliably
measured, except there is definite evidence that the fair value of the asset received is more reliable; for exchange
of nonmonetary asset that cannot satisfy the above conditions, the cost of the intangible asset received is based on
the carrying amount of the asset surrendered and the amount of relevant taxation payable, and no profit or loss is
recognized.
For intangible asset obtained through business absorption or combination of entities under common control, the
entry value is determined by the carrying amount of the combined party; for intangible asset obtained through
business absorption or merger of entities not under common control, the entry value is determined by the fair
value of the intangible asset.
(2) Amortization of intangible assets
Intangible asset with a limited life is amortized using straight line method over the term which it brings economic
benefit to the Company. If the term of economic benefit the intangible asset can bring to the Company cannot be
estimated, it is deemed to be an intangible asset with indefinite life, which shall not be amortized.
(3) Regular review of useful life
The expected useful life and amortization method for intangible assets with definite useful life are reviewed at the
end of each year, and adjusted when necessary. In case that the useful life of an intangible asset is limited, the
Company shall estimate the term of the useful life or quantity of output or similar measurement units constituting
the useful life. The useful life of intangible assets shall be reviewed annually, and they are also subject to
impairment test. At the end of each accounting period, useful life and amortization method for intangible assets
with definite useful life are reviewed. Where the useful life and amortization method is different from the previous
estimate, the company shall change term and method for amortization. Besides, the company shall also review the
useful life of intangible assets with indefinite useful life in each accounting period. if there is any evidence
showing that an intangible asset has definite useful life, the company shall estimate the useful life according the
above rules.
(4) Impairment of intangible assets
The Company makes a judgment on whether there is any sign of possible assets impairment on the balance sheet
date. With respect to goodwill arising from business combination and intangible assets with indefinite useful life,
they are subject to impairment test annually regardless of whether there is any sign of impairment. If there is any
sign of impairment, the company shall estimate the recoverable amount which shall be determined at the higher of
the net amount of fair value of the asset less disposal costs and the present value of the predicted future cash flow
of the asset. In particular, the disposal costs include legal expenses, taxes, delivery expense relating to the asset
disposal and other expenses directly occurred to make the asset available for sale.
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
(2) Internal accounting policies relating to research and development expenditures
(1) Categorization of the expenditure in research stage and expenditure in development stage
Intangible assets recognized for expenditure in exploitation stage by satisfying the followed at same time:
①it is technically feasible that the intangible asset can be used or sold upon completion;
②there is intention to complete the intangible asset for use or sale;
③the intangible asset can produce economic benefits, including there is evidence that the products produced using
the intangible asset has a market or the intangible asset itself has a market; if the intangible asset is for internal use,
there is evidence that there exists usage for the intangible asset;
④there is sufficient support in terms of technology, financial resources and other resources in order to complete
the development of the intangible asset, and there is capability to use or sell the intangible asset;
⑤the expenses attributable to the development phase of the intangible asset can be measured reliably.
22. Impairment of long-term assets
The Company makes a judgment on whether there is any sign of possible long-term assets impairment on the
balance sheet date. Where there is a sign indicating potential impairment, the Company will estimate the
recoverable amount. And if the recoverable amount of an asset is less than its carrying value, the carrying value
shall be written down to the recoverable amount and the amount written down shall be recognized as impairment
loss and included in current profit or loss. Meanwhile, the Company shall make impairment provision for the asset
accordingly.
No matter whether there is any sign of possible assets impairment, the goodwill formed by the merger of
enterprises and intangible assets with uncertain service lives shall be subject to impairment test every year.
The estimate of the recoverable amount of the assets are determined at the higher of the net amount of the fair
value less the disposal expenses and the present value of the estimated future cash flows.
The Group estimates the recoverable amount on an individual basis. If it is not possible to estimate the
recoverable amount of the individual asset, the Group determines the recoverable amount of the asset group to
which the asset belongs.
Once the asset impairment loss is recognized, it will not be reversed in the subsequent periods.
After the loss of asset impairment has been recognized, the depreciation or amortization expenses of the impaired
asset shall be adjusted accordingly in the future periods so as to amortize the post-adjustment carrying value of the
asset systematically (deducting the expected net residual value) within the residual service life of the asset.
23. Long-term deferred expenses
Long-term deferred expenses are those prepaid expenses with an amortization period of more than one year
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
(excluding one year), such as improvement expense occurred on fixed assets leased under operating leasing
arrangement. Long-term deferred expenses are amortized in installment on an average basis over the period which
is expected to be benefitted from such expenses. In case that the long-term deferred expenses are not likely to
benefit the subsequent accounting periods, the outstanding value of the item to be amortized shall be included in
current profit or loss in full.
24. Employee compensation
(1) Accounting treatment for short-term compensation
During the accounting period when staff providing service to the Company, the actual short-term compensation
occurred shall recognized as liabilities and reckoned into current gains/losses or relevant assets costs. The
non-monetary welfare is measured by fair value.
(2) Accounting treatment for post-employment benefit
The post-employment benefit including the defined contribution plans. And defined contribution plans including
basic endowment insurance, unemployment insurance and annuity, corresponding payable amount will reckoned
into relevant assets costs or current gains/losses while occurred.
(3) Accounting for retirement benefits
When the Company terminates the employment relationship with employees before the end of the employment
contracts or provides compensation as an offer to encourage employees to accept voluntary redundancy, the
Company shall recognize employee compensation liabilities arising from compensation for staff dismissal and
included in profit or loss for the current period, when the Company cannot revoke unilaterally compensation for
dismissal due to the cancellation of labor relationship plans and employee redundant proposals; and the Company
recognize cost and expenses related to payment of compensation for dismissal and restructuring, whichever is
earlier.
(4) Accounting for other long-term employee benefits
For other long-term employee benefits provided by the Company to its employees, if satisfy with the established
withdraw plan, then the benefits are accounted for under the established withdraw plan, otherwise accounted for
under defined benefit scheme.
25. Accrued liabilities
(1) When the obligations arising from provision of external guarantee, lawsuits, product quality guarantee and
contract loss and other contingent issues become the present obligations of the company, the performance of
which is likely to result in outflow of benefit from the company and the amount of which can be measured reliably,
the company shall recognize such obligations as projected liabilities.
(2) Projected liabilities are initially measured at the best estimate on the expenses required to perform the relevant
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
present obligation by the Company, and the carrying value of project liabilities are reviewed on each balance sheet
date.
26. Share-based payment
Share based payment refers to the transactions involving grant of equity instrument or assume liabilities as
determined based on equity instrument for the purpose of acquiring services from employees or other parties.
Share based payment is divided into the equity settled share based payment and cash settled share based payment.
The equity-settled share-based payment in return for employee services shall be measured at the fair value of the
equity instruments granted to the employees. The cash-settled share-based payment shall be measured at the fair
value of the liability that determined on the basis of shares or other equity instruments undertaken by the
enterprise
27. Other financial instruments including senior shares and perpetual bonds
(1) Distinguish of senior shares and perpetual bonds
The perpetual bonds and senior shares issued by the Company are treated as equity instruments subject to
satisfaction of all the below conditions:
①the financial instrument excludes delivery of cash or other financial assets to others, or exchange for contractual
obligations on financial assets or financial liabilities with others under potential negative conditions;
②if its own equity instruments are required or may be used to settle the financial instruments, it excludes the
contractual obligation to deliver varied numbers of own equity instruments for settlement provided that the
financial instruments are non-derivatives; if the financial instruments are derivatives, the Company can only settle
the financial instruments by fixed number of own equity instruments for exchange for fixed amount of cash or
other financial assets.
Other than the financial instruments which can be classified as equity instruments under the above conditions,
other financial instruments issued by the Company shall be classified as financial liabilities.
In case that financial instruments issued by the Company are compound financial instruments, they shall be
recognized as liabilities at the fair value of liabilities portion. The actual amount received less fair value of the
liabilities portion shall be recognized as other equity instrument. Transaction expenses occurred in issuance of
compound financial instruments are allocated to the portions of liabilities and equities according to their
respective proportion to the total issuance price.
(2) Accounting for perpetual bonds and senior shares
For perpetual bonds and senior shares classified into financial liabilities, their relevant interest, dividends, gains or
losses and gains or losses arising from redemption or refinancing are all included in current profit or loss other
than those borrowing expenses which meet condition for capitalization (please refer to Note V-18 “borrowing
expenses”).
For perpetual bonds and senior shares classified into equity instruments, their issuance (including refinancing),
repurchase, sale or cancel are treated as change of equity, and relevant transaction fees are also deducted from
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
equity. The Company accounts for allocation of holders of equity instruments as profit distribution.
The Company dose not recognizes change of fair value of equity instruments.
28. Revenue
Whether the company needs to comply with the disclosure requirements of the particular industry
No
(1) Goods sales
Income from sale of goods is recognized when the following conditions are met: (1)the Company has transferred
the key risks and return on the ownership of the merchandize to the buyer; (2)the Company has not retained
continued management rights associated with ownership and no longer exercises effective control on the
merchandize sold; (3)the amount of income can be reliably measured; (4)the relevant economic benefits are very
likely to flow to the enterprise; (5)the costs incurred or to be incurred can be reliably measured.
(2) Rendering of services
When the outcome of the transaction can be estimated reliably (the amount of revenue can be measured reliably, it
is probable that the economic benefits will flow to the Company, the percentage of completion of the transaction
can be determined reliably, and the costs of the transaction incurred and to be incurred can be measured reliably),
revenue from rendering of services is recognized using the percentage of completion method, and the stage of
completion is determined at the proportion of costs incurred to the estimated total costs. When the outcome of the
transaction cannot be estimated reliably at the balance sheet date, revenue is recognized based on the amount of
the costs incurred and the costs incurred are charged off at the same amount when the costs incurred are expected
to be recoverable; and no revenue is recognized and the costs incurred are charged off as an expense of the period
when the costs incurred are not expected to be recovered.
(3) Transfer of asset use right
When the economic benefits related to the transaction is likely to flow to the Company and the income
amount can be reliably calculated, the Company shall recognize income arising from transfer of asset use right.
The income of interests is determined on basis of the time and real interest rate of the Company’s cash funds which
is utilized by other persons. The income of royalties is determined on basis of the chargeable time and method
fixed under relevant agreement or contract.
(4) Interest income
Recognized based on the times and real interest rates for the money used by others
29. Government Grants
(1)Determination basis for government grant related to assets and accounting treatment thereof
1) Type
47
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Government grant refers to those monetary assets and non-monetary assets received by the Company from
government at nil consideration. Based on the grantee as stipulated by the relevant government documents,
government grants are classified into those related to assets and those related to income.
Government grant related to assets refers to those obtained by the Company for construction or otherwise
formation of long term assets. Government grant related to income refers to such government grant other than
those related to assets.
2) Recognition of government grant
Amount of receivables relating to which there is evidence showing that the Company is able to meet relevant
financial supporting policies and is expected to be able for the Company to receive financial supporting funds
shall be recognized as government grant as at the end of a specific period, otherwise it shall be recognized upon
actual receipt.
Where government grant is monetary assets, it shall be measured based on the amount received or receivable.
Where government grant is non-monetary assets, it shall be measured at fair value, and if the fair value cannot be
measured reliably, it shall be measured at nominal value (RMB1.00). For those government grants measured at
nominal value, they shall be recorded in profit and loss for the period directly.
3) Accounting
A. Government grant related to assets shall be accounted to offset the carrying value of relevant assets or
recognized as deferred income. In case this kind of government grant has been recognized as deferred income,
it shall be recorded in profit or loss installment during the service life of the relevant assets under reasonable
and systematic methods. Government grant measured at nominal value shall be recorded in profit or loss for
the period directly.
In case that the relevant assets are disposed of, transferred, regarded as useless or destroyed prior to the end of
their service life, the deferred income balance not allocated yet shall be transferred into gains or loss from assets
disposal for the period.
Government grant associated with a company’s normal operation shall be recorded in other income or used to
offset relevant cost expenses based on the substance of economic business.
B. It is a common practice for governmental finance authorities to pay an enterprise discounted interests, and the
enterprise shall apply the discounted interests to offset relevant borrowing expense.
48
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
C. In respect of recognized government grant which is required to return, it shall be accounted for during the
return period based on the following cases:
a. in case of offset of relevant assets’ carrying value upon initial recognition, the carrying value shall be
adjusted;
b. in case of existence of deferred income, carrying balance of deferred income shall be offset, and the surplus
portion (if any) shall be recorded in profit or loss for the period.
c. otherwise it shall be recorded in profit or loss for the period directly.
(2) Determination basis for government grant related to income and accounting treatment thereof
Government grant related to income shall be accounted for as follows:
1) recognized as deferred income in case that the grant is used to compensate the relevant cost expense or loss of a
company in future periods, and recorded in profit or loss for the period or offset relevant costs during the
period when the relevant cost expense or loss is recognized;
2) recorded in profit or loss for the period or offset relevant costs directly in case that the grant is used to
compensate the relevant cost expense or loss occurred by a company.
In respect of government grant which comprises portions related to assets and income both, different accounting
shall be adopted for different portions. Where it is difficult to distinguish these two portions, the grant shall be
classified as grant related to income in its entirety.
30. Deferred tax assets / deferred income tax liabilities
(1) Deferred tax assets or deferred tax liabilities are calculated and recognized based on the difference between the
carrying amount and tax base of assets and liabilities (and the difference of the carrying amount and tax base
of items not recognized as assets and liabilities but with their tax base being able to be determined according
to tax laws) and in accordance with the tax rate applicable to the period during which the assets are expected
to be recovered or the liabilities are expected to be settled.
(2) A deferred tax asset is 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. At the balance sheet date, if there
is any exact evidence that it is probable that future taxable profits will be available against which deductible
temporary differences can be utilized, the deferred tax assets unrecognized in prior periods are recognized.
(3) At the balance sheet date, the carrying amount of deferred tax assets is reviewed. The carrying amount of a
deferred tax asset is reduced to the extent that it is no longer probable that sufficient taxable profits will be
available to allow the benefit of the deferred tax asset to be utilized. Such reduction is subsequently reversed to
the extent that it becomes probable that sufficient taxable income will be available.
(4) The income tax and deferred tax for the period are treated as income tax expenses or income through profit or
loss, excluding those arising from the following circumstances: ① business combination; and ② the
49
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
transactions or items directly recognized in equity.
31. Lease
(1)Accounting for operating lease
When the Company is the lessee, lease payments are recognized as cost or profit or loss with straight-line method
over the lease term. Initial expenses are recognized directly into profit or loss. Contingent rents are charged as
profit or loss in the periods in which they are incurred.
When the Company is the lessor, lease income is recognized as profit or loss with straight-line method over the
lease term. Initial expenses, other than those with material amount and eligible for capitalization which are
recognized as profit or loss by installments, are recognized directly as profit or loss. Contingent rents are charged
into profit or loss in the periods in which they are incurred.
(2) Accounting for financing lease
When the company acts as lessee, at the inception of lease, the lower of fair value of leased assets at the inception
of lease and the present value of minimum lease payment is recognized as the value of leased assets. The
minimum lease payment is recognized as the value of long-term payable. Their difference is recorded as
unrecognized finance costs with any initial direct expense incurred recorded in the value of leased assets. For each
period of the lease term, current finance cost is calculated using effective interest method.
When the company acts as lessor, at the inception of lease, the sum of minimum lease income at the inception of
lease and the initial direct expense is recognized as the value of finance lease payment receivable, with unsecured
balance also recorded. The difference between the sum of minimum lease income, initial direct expense and
unsecured balance and the sum of their present values is recognized as unrealized finance income. For each period
of the lease term, current finance income is calculated using effective interest method.
32. Other important accounting policy and estimation
Discontinued operation refers to the operation disposed or classified as held-for-sale by the Company and
presented separately under operation segments and financial statements, which has fulfilled one of the following
criteria: ① it represents an independent key operation or key operating region; ② it is part of the proposed
disposal plan on an independent key operation or proposed disposal in key operating region; or ③ it only
establishes for acquisition of subsidiary through disposal.
Accounting for discontinued operation is set out in note V-13 “classified as assets held for sale”.
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
33. Major accounting policy and changes
(1) Main accounting policy changes
√ Applicable □Not applicable
Content and reasons Approval procedures Note
Pursuant to the notice issued by the Ministry of Finance
Impact of this change of accounting
on 10 May 2017 relating to issuance of the amended
policies in our consolidated financial
No.16 of Enterprise Accounting Standards –
statement is the change of accounting
Government Grant (No. CK[2017]15), government
item for government grant: government
grant associated with a company’s normal operation
grant related to our normal operation
shall be recorded in “other income” or used to offset
shall be recorded as “other income” and
relevant cost expenses based on economic substance;
reported separately under the item of
government grant not associated with a company’s
“operating profit” in profit statement.
normal operation should be recognized as 2nd Meeting of 10th BOD
These adjustments are only made to the
non-operating income or expense. These provisions
reporting items and structure of profit
have come into effect since 12 June 2017. Government
statement, with no impact on the
grants existed as at 1 January 2017 shall be accounted
Company’s profit for the period or
for under prospective application method, and those
shareholders’ interests, no impact on our
new government grants increased between 1 January
financial condition and operating results
2017 and the date when the new provision came into
and no involvement of the retrospective
effect are subject to adjustments under the new
adjustment for the previous years.
government grant standards.
(2) Changes of important accounting estimate
□ Applicable √ Not applicable
34. Other
Nil
VI. Taxes
1. Main tax category and tax rate
Tax category Tax calculation evidence Tax rate
Sales of goods, taxable labor service
Value added tax 17%
revenue and taxable income
Tax for maintaining and building cities Turnover tax payable 7%
Taxable income 25.00%
Business income tax
51
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Educational surtax Turnover tax payable 3%
Turnover tax payable 2%
Local educational surtax
Amount of the purchasing and sales
Stamp tax 0.03%
contract
Disclose reasons for different taxpaying body
Taxpaying body Income tax rate
2. Tax preference
Nil
3. Other
Nil
VII. Notes to Items in Consolidated Financial Statements
1. Monetary fund
In RMB
Item Ending balance Opening balance
Cash on hand 77,429.04 132,652.06
Cash in bank 15,099,876.44 23,768,774.82
Other monetary fund 113,860.83
Total 15,177,305.48 24,015,287.71
Other explanation
Separate explanation is required for accounts with restricted application purposes, deposited overseas and of
potential recovery risks arising from pledge, mortgage or frozen.
2. Financial assets measured by fair value and reckoned into current gains/losses with its variation
In RMB
Item Ending balance Opening balance
Other explanation:
Nil
3. Derivative financial assets
□ Applicable √ Not applicable
52
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
4. Note receivables
(1) Classification of notes receivable
In RMB
Item Ending balance Opening balance
Bank acceptance bill 5,139,578.00 2,220,000.00
Total 5,139,578.00 2,220,000.00
(2) Pledge at period-end
In RMB
Item Amount pledge at period-end
Total 0.00
(3) Notes endorsement or discount and undue on balance sheet date
In RMB
Item Amount derecognition at period-end Amount not derecognition at period-end
Bank acceptance bill 25,066,473.00
Total 25,066,473.00
(4) Notes transfer to account receivable due for failure implementation by drawer at period-end
In RMB
Item Amount transfer to account receivable at period-end
Total 0.00
Other explanation
There are no notes that transfer to account receivable due for the drawer failure to perform the contract at
period-end.
5. Accounts receivable
(1) Accounts receivable by category
In RMB
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
53
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Receivables with bad
debt provision 10,787,3 1,287,54 9,499,833 12,479, 1,292,617 11,186,420.
85.23% 11.94% 86.34% 10.36%
accrual by credit 75.68 2.32 .36 037.76 .31 45
portfolio
Accounts with single
significant amount
1,869,94 747,977. 1,121,966 1,974,9 789,977.5 1,184,966.3
and bad debts 14.77% 40.00% 13.66% 40.00%
3.96 58 .38 43.96 9 7
provision accrued
individually
12,657,3 2,035,51 10,621,79 14,453, 2,082,594 12,371,386.
Total 100.00% 16.08% 100.00% 14.41%
19.64 9.90 9.74 981.72 .90 82
Receivable with single significant amount and withdrawal bad debt provision separately at end of period:
□ Applicable √ Not applicable
In combination, accounts receivable whose bad debts provision was accrued by age analysis:
√ Applicable □ Not applicable
In RMB
Ending balance
Age
Account receivable Bad debt provision Accrual ratio
Within one year
Within 1 year 9,006,798.39 27,020.40 0.30%
Subtotal within one year 9,006,798.39 27,020.40 0.30%
1-2 years 79,894.08 239.68 0.30%
2-3 years 441,726.15 1,325.18 0.30%
Over 3 years 1,258,957.06 1,258,957.06 100.00%
Total 10,787,375.68 1,287,542.32 11.94%
Explanation on combination determines:
According to the business scale, business nature, and customers’ settlement, etc., the account receivable with single significant
amount is determined to be RMB 5 million. The account receivable with single significant amount has no depreciation reserve, and
the reserve for bad debt provision is withdrawn with age analysis method.
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:
Nil
(2) Bad debt provision accrual collected or switch back
Bad debt provision accrual was 0 Yuan; the amount collected or switches back amounting to 47,075.00 Yuan.
Important bad debt provision collected or switch back:
54
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
In RMB
Company Collected or switch back amount Collection way
Total 0.00 --
Nil
(3) Account receivable actual charge off in the Period
In RMB
Item Amount written off
Written-off for the major receivable:
In RMB
Verification Arising from related
Company Nature Amount written off Reason for write-off
procedures transaction (Y/N)
Total -- 0.00 -- -- --
Explanation for write-off of receivables:
There is no actual write off of accounts receivable in Period.
(4) Top 5 receivables at ending balance by arrears party
Relationship Ratio in tota
Account
Item with the Amount l receivables Nature
age
company (%)
Within Trade
Jinan Yuxintai Sales Co., Ltd. Unrelated party 3,499,296.65 27.65%
one year receivable
Suzhou Jiaxin Economy and Trade Co., Within Trade
Unrelated party 1,457,049.92 11.51%
Ltd. one year receivable
Within Trade
Jinan Daming Kemao Co., Ltd. Unrelated party 1,294,549.38 10.23%
one year receivable
Shijiazhuang Dasong Technology Co., Within Trade
Unrelated party 1,278,283.50 10.10%
Ltd. one year receivable
Over 3 y Trade
Hebei Branch of CBC Group Unrelated party 1,144,690.91 9.04%
ears receivable
Total - 8,673,870.36 - 68.53% -
(5) Receivable derecognition due to transfer of financial assets
Note: explain the transfer way for financial assets, amount of receivable that re-recognized, and gains/losses while re-recognized.
55
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
(6) Assets and liability resulted by receivable transfer and continuous involvement
Note: explain the transfer way for financial assets, and amount of assets or liabilities continuous involvement item by item
Other explanation:
6. Advance payment
(1) Listed by account age
In RMB
Ending balance Opening balance
Age
Amount Ratio Amount Ratio
Within one year 1,296,894.88 89.20% 1,667,424.89 89.29%
1- 2 years 200,000.00 10.80% 200,000.00 10.71%
2-3 years
Over 3 years
Total 1,496,894.88 -- 1,867,424.89 --
Explanation on un-settlement in time for advance payment with over one year account age and major amounts:
The subscription 200,000.00 Yuan paid to Huihuangda Bicycle (Shenzhen) Co., Ltd. for 1000 OEM bicycles in
advance. The subscription will pay the final money according to the agreement. The business still not settles till
end of the period
(2) Top 5 advance payment at ending balance by prepayment object
Ratio in t
Relationship
Account otal adva
Item with the Amount Nature
age nce e pay
company
ment (%)
Unrelated Within on
Tianjin Shuntian Electric Bicycle Co., Prepayments for
1,279,523.55 e 85.48%
Ltd. materials
year
Huihuangda Bicycle (Shenzhen) Co., Unrelated Prepayments for
200,000.00 1-2 years 13.36%
Ltd. materials
Unrelated Within on
Shenzhen ZHengyijia Technology Prepayments for
10,800.00 e 0.72%
Co.,Ltd. materials
year
Unrelated Within on
Prepayments for
Shenzhen Jiekang Industrial Co., Ltd. 3,375.00 e 0.22%
materials
year
56
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Ratio in t
Relationship
Account otal adva
Item with the Amount Nature
age nce e pay
company
ment (%)
Unrelated Within on
Shenzhen Yuanshun Sports Apparatus Prepaid service
1,890.00 e 0.13%
Co., Ltd. charge
year
Total - 1,495,588.55 - 99.91% -
Note: In accordance with the concentration ratio, aggregation or closing balance of prepayment of the top five closing balance
respectively disclosed and the proportion of the total number of closing balance of prepayment
Other explanation:
7. Interest receivable
(1) Interest receivable
In RMB
Item Ending balance Opening balance
Time deposit
Loan by mandate
Debt investment
Total 0.00 0.00
(2) Important overdue interest
Overdue time Overdue Impairment (Y/N) and
Borrower Ending balance Overdue reason
time judgment basis
-- -- --
Total 0.00
Other explanation:
Nil
8. Dividend receivables
(1) Dividend receivables
In RMB
Item (or the invested entity) Ending balance Opening balance
57
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
(2) Major dividend receivables with over one year age
In RMB
Item or the invested Impairment (Y/N) and
Ending balance Age Reasons
entity) judgment basis
Total 0.00 -- -- --
Other explanation:
Nil
9. Other accounts receivable
(1) Other accounts receivable by category
In RMB
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Other receivables
with bad debt 1,046,10 452,521. 593,588.2 1,111,4 452,717.7
100.00% 43.26% 100.00% 40.73% 658,754.09
provision accrual by 9.89 64 5 71.82 3
credit portfolio
1,046,10 452,521. 593,588.2 1,111,4 452,717.7
Total 100.00% 43.26% 100.00% 40.73% 658,754.09
9.89 64 5 71.82 3
Other receivable with single significant amount and withdrawal bad debt provision separately at end of period:
□ Applicable √ Not applicable
In combination, other accounts receivable whose bad debts provision was accrued by age analysis
√ Applicable □ Not applicable
In RMB
Ending balance
Age
Other accounts receivable Bad debt provision Accrual ratio
Within one year
Within one year 314,641.37 943.92 0.30%
Subtotal within one year 314,641.37 943.92 0.30%
1-2 years 208,705.00 626.12 0.30%
2-3 years 72,028.00 216.08 0.30%
Over 3 years 450,735.52 450,735.52 100.00%
Total 1,046,109.89 452,521.64 43.26%
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Explanations on combination determine:
According to the business scale, business nature, and customers’ settlement, etc., the other account receivable with single big amount
is determined to be RMB 5 million. The other account receivable with single big amount has no depreciation reserve, and the reserve
for bad debt provision is withdrawn with age analysis method.
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 collected or switch back
Bad debt provision accrual was 0 Yuan; the amount collected or switches back amounting to 196.09 Yuan.
Important bad debt provision collected or switch back:
In RMB
Company Amount reversal or collected Collection way
Total 0.00 --
Nil
(3) Other receivables actually written-off during the reporting period
In RMB
Item Amount written off
Written-off for the major other receivable:
In RMB
Nature of other Verification Arising from related
Company Amount written off Reason for write-off
receivables procedures transaction (Y/N)
Total -- 0.00 -- -- --
Explanation for write-off of other receivables:
Nil
(4) Other receivables by nature
In RMB
Nature Ending book balance Opening book balance
Margin or deposit 584,750.00 503,614.00
Equipment money 311,400.00 311,400.00
Staff personal loans 72,098.50 111,870.60
Other 77,861.39 184,587.22
59
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Total 1,046,109.89 1,111,471.82
(5) Top 5 other receivables at ending balance by arrears party
In RMB
Ratio in total ending
Ending balance of
Company Nature Ending balance Age balance of other
bad bet provision
receivables
Shenzhen Luwei
Machine nary Equipment money 300,000.00 Over 3 years 28.68% 300,000.00
Equipment Co., Ltd.
Shenzhen
Anjingheng Margin or deposit 150,900.00 1-2 year 14.43% 452.70
Industrial Co., Ltd.
Shenzhen Material
Margin or deposit 135,723.00 1-2 year 12.97% 407.17
Group Co., Ltd.
Tianjin Lvchi
Margin or deposit 72,000.00 1-2 year 6.88% 216.00
E-Business Co., Ltd.
Alipay (China)
Network Technology Margin or deposit 50,000.00 1-2 year 4.78% 150.00
Co., Ltd.
Total -- 708,623.00 -- 67.74% 301,225.87
(6) Account receivable with government grants involved
In RMB
Time, amount and basis
Company Item Ending balance Ending age of amount collection
estimated
Total -- 0.00 -- --
(7) Other account receivable derecognition due to financial assets transfer
Nil
(8) Assets and liability resulted by other account receivable transfer and continuous involvement
Nil
Other explanation:
Nil
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
10. Inventory
Whether the company needs to comply with the disclosure requirements of the particular industry
No
(1) Inventory classification
In RMB
Ending balance Opening balance
Item Depreciation Depreciation
Book balance Book value Book balance Book value
reserve reserve
Raw materials 535,609.59 40,706.54 494,903.05 785,399.89 40,706.54 744,693.35
Finished goods 5,595,790.29 5,519.40 5,590,270.89 2,379,266.31 5,519.40 2,373,746.91
Total 6,131,399.88 46,225.94 6,085,173.94 3,164,666.20 46,225.94 3,118,440.26
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) Inventory depreciation reserve
In RMB
Increase in the current period Decrease in the current period
Item Opening balance Switch back or Ending balance
Accrual Other Other
write-off
Raw materials 40,706.54 40,706.54
Finished goods 5,519.40 5,519.40
Total 46,225.94 46,225.94
(3) Explanation on capitalization of borrowing costs at ending balance of inventory
Nil
(4) Assets that completed without settlement from construction contract
In RMB
Item Amount
Other explanation:
Nil
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
11. Assets holding ready for sold
In RMB
Expected disposal
Item Ending book value Fair value Expected disposal time
expenses
Total 0.00 0.00 0.00 --
Other explanation:
Nil
12. Non-current assets due within one year
In RMB
Item Ending balance Opening balance
Other explanation:
Nil
13. Other current assets
In RMB
Item Ending balance Opening balance
Prepaid intermediary fee 1,792,452.81 1,509,433.95
Prepaid tax 763,158.94 541,396.60
Total 2,555,611.75 2,050,830.55
Other explanation:
Nil
14. Financial assets available for sale
(1) Financial assets available for sale
In RMB
Ending balance Opening balance
Item Depreciation Depreciation
Book balance Book value Book balance Book value
reserves reserves
Total 0.00 0.00 0.00 0.00
(2) Financial assets available for sale measured by fair value at period-end
In RMB
Type Equity instrument Debt instrument Total
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
available for sale available for sale
(3) Financial assets available for sale measured by cost at period-end
In RMB
Book balance Depreciation reserves Ratio of
The share-holdi
Cash
invested Period-beg Period-beg ng in
Increased Decreased Period-end Increased Decreased Period-end dividend
entity inning inning invested
entity
Total 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -- 0.00
(4) Changes of impairment in Period
In RMB
Equity instrument Debt instrument
Type Total
available for sale available for sale
Balance of impairment
0.00
accrual at period-begin
Current accrual 0.00
Including: transfer-in
from other 0.00
comprehensive income
Current decrease 0.00
Including: switch back
due to fair value rebound 0.00
at period-end
Balance of impairment
0.00
accrual at period-end
(5) Fair value of equity instrument available for sale sharply declined or other-than-temporary declined at
period-end without depreciation reserves accrual
In RMB
Fair value Time of drops Amount with
Reasons for
Item Investment cost Ending fair value declined relative persistently impairment
un-accrual
to cost (month) accrual
Total 0.00 0.00 -- -- 0.00 --
Other explanation
Nil
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
15. Held-to-maturity investment
(1) Held-to-maturity investment
In RMB
Ending balance Opening balance
Item Depreciation Depreciation
Book balance Book value Book balance Book value
reserves reserves
Total 0.00 0.00 0.00 0.00
(2) Important held-to-maturity investment at period-end
In RMB
Bond Face value Coupon value Actual rate Maturity date
Total 0.00 -- -- --
(3) Held-to-maturity investment reclassify in the Period
Nil
Other explanation
Nil
16. Long-term account receivable
(1) Long-term account receivable
In RMB
Ending balance Opening balance
Discount rate
Item Bad debt Bad debt
Book balance Book value Book balance Book value section
provision provision
Total 0.00 0.00 0.00 0.00 --
(2) Long-term account receivable derecognition due to transfer of financial assets
Nil
(3) Assets and liability resulted by long-term account receivable transfer and continuous involvement
Nil
Other explanation
Nil
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
17. Long-term equity investment
In RMB
+,-
Ending
Other Cash
Investme balance
The Additiona comprehe dividend
Opening nt gains Other Ending of
invested l Capital nsive or profit Impairme
balance recognize equity Other balance impairme
entity investmen reduction income announce nt accrual
d under change nt
t adjustmen d to
equity provision
t issued
I. Joint venture
Subtotal 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
II. Associated enterprise
Subtotal 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other explanation
Nil
18. Investment real estate
(1) Investment real estate measured at cost
□ Applicable √ Not applicable
(2) Investment real estate measured at fair value
□ Applicable √ Not applicable
(3) Certificate of title un-completed
In RMB
Item Book value Reasons for un-completed
Other explanation
Nil
19. Fixed assets
(1) Fixed assets
In RMB
Houses and Machines equipme Electronic
Item Transport tools Total
buildings nt equipment and
65
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
other
I. Original book
value:
1.Opening
2,959,824.00 564,123.99 416,629.06 635,351.81 4,575,928.86
balance
2. Increased in
0.00 0.00 0.00 31,940.00 31,940.00
the Period
(1) Purchase 0.00 0.00 0.00 31,940.00 31,940.00
(2)
construction in 0.00 0.00 0.00 0.00 0.00
process transfer-in
(3) the
increase in
0.00 0.00 0.00 0.00 0.00
business
combination
3. Decreased in
0.00 0.00 0.00 0.00 0.00
the Period
(1) Disposal or
0.00 0.00 0.00 0.00 0.00
scrap
4.Ending
2,959,824.00 564,123.99 416,629.06 667,291.81 4,607,868.86
balance
II. accumulated
depreciation
1.Opening
66,596.04 229,871.16 71,749.48 478,757.07 846,973.75
balance
2. increased in
66,596.04 50,771.16 18,748.32 9,021.45 145,136.97
the Period
(1) provision 66,596.04 50,771.16 18,748.32 9,021.45 145,136.97
3. Decreased in
0.00 0.00 0.00 0.00 0.00
the Period
(1) Disposal or
0.00 0.00 0.00 0.00 0.00
scrap
4.Ending
133,192.08 280,642.32 90,497.80 487,778.52 992,110.72
balance
66
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
III. impairment of
preparation
1.Opening
0.00 0.00 0.00 0.00 0.00
balance
2. increased in
0.00 0.00 0.00 0.00 0.00
the Period
(1) provision 0.00 0.00 0.00 0.00 0.00
3. Decreased in
0.00 0.00 0.00 0.00 0.00
the Period
(1) Disposal or
0.00 0.00 0.00 0.00 0.00
scrap
4.Ending
0.00 0.00 0.00 0.00 0.00
balance
IV. book value
1.Ending book
2,826,631.92 283,481.67 326,131.26 179,513.29 3,615,758.14
value
2. Opening
2,893,227.96 334,252.83 344,879.58 156,594.74 3,728,955.11
book value
(2) Fixed assets temporary idle
In RMB
Accumulated Depreciation
Item Original book value Book value Note
depreciation reserves
(3) Fixed assets leased through operating lease
In RMB
Accumulated
Item Original book value Depreciation reserves Book value
depreciation
(4) Fixed assets leased through operating lease
In RMB
Item Ending book value
67
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
(5) Certificate of title un-completed
In RMB
Item Book value Reasons
Purchasing six properties of Lianxin
Garden with original value of
2,959,824.00 Yuan in 2016. The property
purchasing refers to the indemnificatory
housing for enterprise talent buying from
Shenzhen Housing and Construction
Six properties in Lianxin Garden 2,826,631.92 Bureau of Luohu District. According to
the agreement, the enterprise shall not
carrying any kind of property trading
with any units or individuals except the
government, and the company has no
property certification on the above
mentioned properties.
Other explanation
No accrual for impairment provision due to there was no evidence of impairment being found in fixed assets at
period-end.
20. Construction in progress
(1) Construction in progress
In RMB
Ending balance Opening balance
Item Depreciation Depreciation
Book balance Book value Book balance Book value
reserves reserves
Total 0.00 0.00 0.00 0.00
(2) Changes in significant construction in progress
In RMB
Accumul including
Proporti
Fixed ated : interest Interest
Other on of
increased assets amount capitaliz capitaliz
Opening decrease Ending project Sourceof
Item Budget in the transfer-i Progress of ed ation rate
balance d in the balance investme funds
Period n in the interest amount of the
Period nt in
Period capitaliz of the period
budget
ation period
Total 0.00 0.00 0.00 0.00 0.00 0.00 -- -- 0.00 0.00 0.00% --
68
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
(3) Depreciation reserves accrual
In RMB
Item Accrual Amount Reasons
Total 0.00 --
Other explanation
Nil
21. Engineering materials
In RMB
Item Ending balance Opening balance
Other explanation:
Nil
22. Disposal of fixed assets
In RMB
Item Ending balance Opening balance
Other explanation:
Nil
23. Productive biological assets
(1) Productive biological assets measured by cost
□ Applicable √ Not applicable
(2) Productive biological assets measured by fair value
□ Applicable √ Not applicable
24. Oil-and-gas assets
□ Applicable √ Not applicable
25. Intangible assets
(1) Intangible assets
In RMB
Item Land use right Patent Non-patent Trademark Total
69
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
technology
I. original book
value:
1.Opening balance 5,271,000.00 5,271,000.00
2. increased in the
0.00 0.00
Period
(1) Purchase 0.00 0.00
(2) internal R
0.00 0.00
&D
(3) the
increase in business 0.00 0.00
combination
3.DecreasedAmount 0.00 0.00
(1) Disposal 0.00 0.00
4.Ending balance 5,271,000.00 5,271,000.00
II. accumulated
depreciation
1.Opening balance 2,259,000.00 2,259,000.00
2. increased in the
376,500.00 376,500.00
Period
(1) provision 376,500.00 376,500.00
3.DecreasedAmount 0.00 0.00
(1) Disposal 0.00 0.00
4.Ending balance 2,635,500.00 2,635,500.00
III. impairment of
preparation
1.Opening balance 0.00 0.00
2. increased in the
0.00 0.00
Period
(1) provision 0.00 0.00
3.DecreasedAmount 0.00 0.00
(1) Disposal 0.00 0.00
4.Ending balance 0.00 0.00
IV. book value
1.Ending book
2,635,500.00 2,635,500.00
value
70
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
2. Opening book
3,012,000.00 3,012,000.00
value
Ratio of intangible assets resulted from internal R&D in balance of intangible assets at period-end
(2) Land use right without certificate of title completed
In RMB
Item Book value Reasons
Other explanation:
No accrual of impairment provision due to there was no impairment evidence being found in intangible assets at
end of the period
26. Development expense
In RMB
Opening
Item Increased in the Period Decreased in the Period Ending balance
balance
Total 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other explanation
Nil
27. Goodwill
(1) Original book value of goodwill
In RMB
The invested
Opening balance Increase during the year Decreased during the year Ending balance
entity or items
Total 0.00 0.00 0.00 0.00 0.00 0.00
(2) Depreciation reserves of goodwill
In RMB
The invested
Opening balance Increase during the year Decreased during the year Ending balance
entity or items
Total 0.00 0.00 0.00 0.00 0.00 0.00
Process of impairment testing, parameter and recognition method for impairment losses:
Nil
Other explanation:
Nil
71
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
28. Long-term unamortized expenses
In RMB
increased in the Amortized in the
Item Opening balance Other decrease Ending balance
Period Period
Total 0.00 0.00 0.00
Other explanation
Nil
29. Deferred income tax assets and deferred income tax liabilities
(1) Deferred income tax assets un-offset
In RMB
Ending balance Opening balance
Item Deductible temporary Deferred income tax Deductible temporary Deferred income tax
difference assets difference assets
Asset depreciation
2,534,267.48 633,566.88 2,580,785.12 645,196.29
reserves
Total 2,534,267.48 633,566.88 2,580,785.12 645,196.29
(2) Deferred income tax liabilities un-offset
In RMB
Ending balance Opening balance
Item Taxable temporary Deferred income tax Taxable temporary Deferred income tax
differences liabilities differences liabilities
Total 0.00 0.00 0.00 0.00
(3) Deferred income tax assets and deferred income tax liabilities listed after off-set
In RMB
Ending balance of Trade-off between the Opening balance of
Trade-off between the
deferred income tax deferred income tax deferred income tax
Item deferred income tax
assets or liabilities after assets and liabilities at assets or liabilities after
assets and liabilities
off-set period-begin off-set
Deferred income tax
633,566.88 645,196.29
assets
(4) Details of unrecognized deferred income tax assets
In RMB
72
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Item Ending balance Opening balance
Total 0.00 0.00
(5) Deductible losses of un-recognized deferred income tax assets expired on the followed year
In RMB
Year Ending amount Opening amount Note
Total 0.00 0.00 --
Other explanation:
As stated under article 17 of the Enterprise Accounting Standards No.18-Income Tax, deferred income tax assets and deferred income
tax liabilities shall be measured at the tax rate applicable in the period in which the assets are expected to be recovered or liabilities
are expected to be settled according to relevant tax laws on the balance sheet date. The tax rate adopted by the Company in
calculating deferred income tax assets is 25% for both parent company and subsidiaries.
Due to the uncompensated loss of parent company, the Company did not recognize deferred income tax assets.
30. Other non-current assets
In RMB
Item Ending balance Opening balance
Advance payment for house 400,000.00 400,000.00
Total 400,000.00 400,000.00
Other explanation:
In2016, the Company paid the four houses in advance for enterprise talent, located in Yinhu Lanshan, to Shenzhen Housing and
Construction Bureau of Luohu District, the event still in process.
31. Short-term loans
(1)Types of short-term loans
In RMB
Item Ending balance Opening balance
Explanation on short-term loans category:
Nil
(2) Overdue outstanding short-term loans
Total 0.00 Yuan overdue outstanding short-term loans at period-end, including the followed significant amount:
In RMB
Unit Ending balance Lending rate Overdue time Overdue rate
Total 0.00 -- -- --
73
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Other explanation:
Nil
32. Financial liability measured by fair value and with its variation reckoned into current gains/losses
In RMB
Item Ending balance Opening balance
Other explanation:
Nil
33. Derivative financial liabilities
□ Applicable √ Not applicable
34. Notes payable
In RMB
Type Ending balance Opening balance
Notes expired at year-end without paid was 0.00 Yuan
35. Account payable
(1) Account payable
In RMB
Item Ending balance Opening balance
Within 1 year (including 1year) 11,562,728.53 9,563,099.99
1-2 year (including 2year) 3,084.95 3,084.95
Over 3 years 185,792.84 185,792.84
Total 11,751,606.32 9,751,977.78
(2) Account payable with over one year book age
In RMB
Item Ending balance Reasons of un-paid or carry-over
Total 0.00 --
Other explanation:
(3) Top 5 payables at Period-end
Item Relationship Amount Account Ratio in total payables in Nature
74
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
with the age advance (%)
company
Baodao Vehicles Group Co., Within Trade
Unrelated party 3,859,528.31 32.84
Ltd. one year payable
Tianjin Luying Vehicles Co., Within Trade
Unrelated party 2,776,581.32 23.63
Ltd. one year payable
Jinda Intelligent Technology Within Trade
Unrelated party 2,506,554.35 21.33
Co., Ltd. one year payable
Tianjin Jianya Electronic Within Trade
Unrelated party 1,100,395.34 9.36
Technology Co., Ltd. one year payable
Taizhou Huangyan Jisheng Within Trade
Unrelated party 231,274.77 1.97
Industrial & Trade Co., Ltd. one year payable
Total 10,474,334.09 89.13
36. Account received in advance
(1) Account received in advance
In RMB
Item Ending balance Opening balance
Within one year (one year included) 968,316.34 3,257,952.74
1-2 years (2 years included) 503,352.22 503,352.22
2-3 years (3 years included) 141,481.50 141,481.50
Over 3 years 418,273.37 418,273.37
Total 2,031,423.43 4,321,059.83
(2) Top 5 account received in advance at Period-end
Relationship
Account Ratio in total account
Item with the Amount Nature
age received in advance (%)
company
Goods
Unrelated Over 3 y received
Zhengzhou Daming Kemao Co., Ltd. 404,013.70 19.89
party ears in
advance
Goods
Henan Xinming Electro car Sales Unrelated received
200,689.00 1-2 years 9.88
Co., Ltd. party in
advance
Unrelated Goods
Nanchang Ledao Industrial Co., Ltd. 200,462.80 1-2 years 9.87
party received
75
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
in
advance
Goods
Unrelated Within 1 received
Zhigao (Tianjin) Vehicles Co., Ltd 68,433.61 3.37
party year in
advance
Goods
Changzhou Wujin Legou Life Unrelated received
62,633.88 1-2 years 3.08
Shopping Co., Ltd. party in
advance
Total - 936,232.99 - 46.09 -
(3) Account received in advance with over one year book age
In RMB
Item Ending balance Reasons of un-paid or carry-over
Zhengzhou Daming Kemao Co., Ltd. 404,013.70
Henan Xinming Electro car Sales Co.,
200,689.00
Ltd.
Nanchang Ledao Industrial Co., Ltd. 200,462.80
Total 805,165.50 --
(4) Projects that settle without completed from construction contract at period-end
In RMB
Item Amount
Other explanation:
37. Wages payable
(1) Wages payable
In RMB
Increase during the Decrease during the
Item Opening balance Ending balance
period period
Short-term
770,985.97 3,001,725.32 3,130,963.44 641,747.85
compensation
Post-employment
benefit – defined - 226,101.91 226,101.91 -
contribution plan
76
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Total 770,985.97 3,227,827.23 3,357,065.35 641,747.85
(2) Short-term compensation
In RMB
Increase during the Decrease during the
Item Opening balance Ending balance
period period
1. Wages, bonuses, allowances
764,217.25 2,630,407.18 2,759,581.18 635,043.25
andsubsidies
3. Social insurance 91,473.54 91,473.54
Including: Medical
74,268.56 74,268.56
insurance
Work injury
3,773.80 3,773.80
insurance
Maternity
13,431.18 13,431.18
insurance
4. Housing accumulation
241,319.36 241,319.36
fund
5. Labor union
expenditure and
6,768.72 38,525.24 38,589.36 6,704.60
personnel education
expense
Total 770,985.97 3,001,725.32 3,130,963.44 641,747.85
(3) Defined contribution plans
In RMB
Increase during the
Item Opening balance Decreased Ending balance
period
1. Basic endowment
216,041.04 216,041.04
insurance
2. Unemployment
10,060.87 10,060.87
insurance
Total 226,101.91 226,101.91
Other explanation:
Nil
38. Tax payable
In RMB
Item Ending balance Opening balance
77
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Value-added tax 331,800.99 988,097.16
Enterprise income tax 506,828.92
Individual income tax 27,133.26 10,263.10
Urban maintenance and construction tax 11,817.23 11,499.17
House property tax 45,070.60 45,070.60
Educational surtax 3,622.00 3,394.82
Total 419,444.08 1,565,153.77
Other explanation:
Nil
39. Interest payable
In RMB
Item Ending balance Opening balance
Interest overdue without paid:
In RMB
Borrower Amount overdue Reasons
Total 0.00 --
Other explanation:
Nil
40. Dividends payable
In RMB
Item Ending balance Opening balance
Other explanation, including dividends payable with over one year age and disclosure un-payment reasons:
Nil
41. Other payable
(1) Classification of other payable according to nature of account
In RMB
Item Ending balance Opening balance
With 1 year (including 1 year) 165,800.00 1,150,299.74
1-2 years 913,734.06 1,361,511.50
2-3 years 2,530,934.97 2,530,934.97
Over 3 years 15,345,541.11 15,354,541.11
78
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Total 18,956,010.14 20,397,287.32
(2) Significant other payable with over one year age
In RMB
Item Ending balance Reasons of un-paid or carry-over
Custodian and common benefit debts 9,511,005.85
Guosheng Energy 6,500,000.00 Interest-free loans
Total 16,011,005.85 --
Other explanation
Nil
42. Liability holding ready for sold
In RMB
Item Ending balance Opening balance
Other explanation:
Nil
43. Non-current liability due within one year
In RMB
Item Ending balance Opening balance
Other explanation:
Nil
44. Other current liability
In RMB
Item Ending balance Opening balance
Changes of short-term bond payable:
In RMB
Accrual Premium/
Face Release Bond Issuing Opening Issued in interest discount Paid in Ending
Bond
value date period amount balance the Period by face amortizati the Period balance
value on
Total -- -- -- 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other explanation:
Nil
79
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
45. Long-term loans
(1) Classification of long-term loans
In RMB
Item Ending balance Opening balance
Explanation:
Nil
Other explanation, including interest rate section:
Nil
46. Bonds payable
(1) Bonds payable
In RMB
Item Ending balance Opening balance
(2) Changes of bonds payable (not including the other financial instrument of preferred stock and
perpetual capital securities that classify as financial liability)
In RMB
Total -- -- -- 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(3) Convertible conditions and time for shares transfer for the convertible bonds
Nil
(4) Other financial instruments classify as financial liability
Basic information of the outstanding preferred stock and perpetual capital securities at period-end
Nil
Changes of outstanding preferred stock and perpetual capital securities at period-end
In RMB
Outstanding Period-begin Increase during the period Decreased Period-end
financial
Amount Book value Amount Book value Amount Book value Amount Book value
instrument
Total 0 0.00 0 0.00 0 0.00 0 0.00
Basis for financial liability classification for other financial instrument
Nil
Other explanation
80
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Nil
47. Long-term account payable
(1) Listed by nature
In RMB
Item Ending balance Opening balance
Other explanation:
Nil
48. Long-term employee payable
(1) Long-term employee payable
In RMB
Item Ending balance Opening balance
(2) Changes of defined benefit plans
Present value of the defined benefit plans:
In RMB
Item Current amount Last amount
Scheme assets:
In RMB
Item Current amount Last amount
Net liability (assts) of the defined benefit plans
In RMB
Item Current amount Last amount
Content of defined benefit plans and relevant risks, impact on future cash flow of the Company as well as times and uncertainty:
Nil
Major actuarial assumption and sensitivity analysis:
Nil
Other explanation:
Nil
49. Special payable
In RMB
Item Opening balance Increase during the Decreased Ending balance Causes
81
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
period
Total 0.00 0.00 --
Other explanation:
Nil
50. Accrued liability
In RMB
Item Ending balance Opening balance Causes
Other explanation, including relevant important assumptions and estimation:
Nil
51. Deferred income
In RMB
Increase during the
Item Opening balance Decreased Ending balance Causes
period
Total 0.00 0.00 --
Item with government grants involved:
In RMB
Amount reckoned
New grants in the Assets-related/inc
Item Opening balance in non-operation Other changes Ending balance
Period ome related
revenue
Total 0.00 0.00 0.00 --
Other explanation:
Nil
52. Other non-current liability
In RMB
Item Ending balance Opening balance
Other explanation:
Nil
53. Share capital
In RMB
Changeduringtheperiod(+,-)
Opening
New shares Shares Ending balance
balance Bonus share Other Subtotal
issued transferred
82
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
from capital
reserve
Total shares 551,347,947.00 551,347,947.00
Other explanation:
54. Other equity instrument
(1) Basic information of the outstanding preferred stock and perpetual capital securities at period-end
Nil
(2) Changes of outstanding preferred stock and perpetual capital securities at period-end
In RMB
Outstanding Period-begin Increase during the period Decreased Period-end
financial
Amount Book value Amount Book value Amount Book value Amount Book value
instrument
Total 0 0 0.00 0 0.00 0
Changes of other equity instrument, change reasons and relevant accounting treatment basis:
Nil
Other explanation:
Nil
55. Capital reserve
In RMB
Increase during the
Item Opening balance Decreased Ending balance
period
Other capital reserve 627,834,297.85 627,834,297.85
1. Debt restructuring
482,580,588.23 482,580,588.23
income
2. Other 145,253,709.62 145,253,709.62
Total 627,834,297.85 0.00 0.00 627,834,297.85
Other explanation, including changes and reasons for changes:
Among the other capital reserves, 135,840,297.18 Yuan refers to the payment for creditor from shares assignment
by whole shareholders; majority shareholder Guosheng Energy donated 5,390,399.74 Yuan.
56. Treasury stock
In RMB
83
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Increase during the
Item Opening balance Decreased Ending balance
period
Total 0.00 0.00
Other explanation, including changes and reasons for changes:
Nil
57. Other comprehensive income
In RMB
Current amount
Less: written in
other
Account comprehensive
Opening Belong to Belong to Ending
Item before income in
balance Less : income parent minority balance
previous period
income tax in and carried tax expense company after shareholders
tax after tax
the period forward to gains
and losses in
current period
Total other comprehensive income 0.00 0.00 0.00
Other explanation, including the active part of the hedging gains/losses of cash flow transfer to initial recognization adjustment for
the arbitraged items:
Nil
58. Special reserves
In RMB
Increase during the
Item Opening balance Decreased Ending balance
period
Total 0.00 0.00
Other explanation, including changes and reasons for changes:
Nil
59. Surplus reserves
In RMB
Increase during the
Item Opening balance Decreased Ending balance
period
Statutory surplus reserve 32,673,227.01 32,673,227.01
Total 32,673,227.01 0.00 0.00 32,673,227.01
Other explanation, including changes and reasons for changes:
Nil
84
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
60. Retained profit
In RMB
Item Current period Last period
Retained profit at period-end before adjustment -1,197,486,788.28 -1,200,090,425.75
Retained profit at period-begin after adjustment -1,197,486,788.28 -1,200,090,425.75
Add: net profit attributable to shareholders of
-1,691,378.44 2,603,637.47
parent company for this year
Retained profit at period-end -1,199,178,166.72 -1,197,486,788.28
Adjustment for retained profit at period-begin:
1) Retroactive adjustment due to the Accounting Standards for Business Enterprise and relevant new regulations, retained profit at
period-begin has 0.00 Yuan affected;
2) Due to the accounting policy changes, retained profit at period-begin has 0.00 Yuan affected;
3) Due to the major accounting errors correction, retained profit at period-begin has 0.00 Yuan affected;
4) Consolidation range changed due to the same control, retained profit at period-begin has 0.00 Yuan affected;
5) Total other adjustment impacts 0.00 Yuan retained profit at period-begin
61. Operating income and operating cost
In RMB
Current amount Last amount
Item
Income Cost Income Cost
Main business 45,537,967.15 43,692,197.03 62,897,880.97 58,317,911.87
Other business 3,391,709.12 1,994,075.80 2,876,132.36 2,003,321.50
Total 48,929,676.27 45,686,272.83 65,774,013.33 60,321,233.37
62. Business tax and surcharge
In RMB
Item Current amount Last amount
Urban maintenance and construction tax 45,604.48 24,281.09
Educational surtax 32,574.63 17,077.44
Stamp tax 13,173.94
Business tax 29,766.86
Total 91,353.05 71,125.39
63. Sales expense
In RMB
85
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Item Current amount Last amount
Employee compensation 1,126,682.80 1,642,059.12
Development cost for new products 4,122.39 378,545.62
Market promotion costs 19,287.44 327,449.25
Rental property charges 180,047.47 324,646.28
Travel expenses 218,695.40 266,170.42
Net work sales costs 476,089.26
Other 443,777.11 289,311.67
Total 2,468,701.87 3,228,182.36
Other explanation:
Nil
64. Administration expense
In RMB
Item Current amount Last amount
Salary 2,079,149.94 1,310,472.25
Rental and property charges 702,602.38 592,893.94
Other 557,779.18 445,273.88
Total 3,339,531.50 2,348,640.07
Other explanation:
Nil
65. Financial expense
In RMB
Item Current amount Last amount
Interest income -213,713.97 -551,941.52
Commission charge etc. 12,149.06 7,415.97
Total -201,564.91 -544,525.55
Other explanation:
Nil
66. Loss from Assets depreciation
In RMB
Item Current amount Last amount
86
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
I. Bad debt losses -47,271.09 -24,888.28
Total -47,271.09 -24,888.28
Other explanation:
Nil
67. Changes in fair value gains
In RMB
Changes resources Current amount Last amount
Other explanation:
Nil
68. Investment income
In RMB
Item Current amount Last amount
Other explanation:
Nil
69. Other income
In RMB
Resources Current amount Last amount
70. Non-operation revenue
In RMB
Amount reckoned into
Item Current amount Last amount non-recurring gains/losses in
the period
Other 291,710.58 342,089.82 291,710.58
Total 291,710.58 342,089.82 291,710.58
Government grants reckoned into current gains/losses:
In RMB
Whether the
impact of
Whether Assets
Issuing subsidies on Amount of Amount of
Item Issuing cause Property type special related/Incom
subject the current this period last period
subsidies e related
profit and
loss
87
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Total -- -- -- -- -- 0.00 0.00 --
Other explanation:
Nil
71. Non-operating expenditure
In RMB
Amount reckoned into
Item Current amount Last amount non-recurring gains/losses in
the period
Other 1,509.00
Total 1,509.00 0.00
Other explanation:
Nil
72. Income tax expense
(1) Income tax expense
In RMB
Item Current amount Last amount
Current income tax 195,895.21
Deferred income tax 11,629.41
Total 11,629.41 195,895.21
(2) Adjustment on accounting profit and income tax expenses
In RMB
Item Current amount
Total profit -2,115,636.40
Impact of deductible temporary difference and deductible loss
11,629.41
for the deferred income tax recognized in previous year
income tax expenses 11,629.41
Other explanation
The income tax expenses: declined of the bad debt provision for deductible temporary difference last year, than the “deferred income
tax” decreased and “income tax – deferred income tax” increasd in the period
73. Other comprehensive income
Found more in Note 57.
88
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
74. Items of cash flow statement
(1) Other cash received in relation to operation activities
In RMB
Item Current amount Last amount
Interest and Rent and utilities etc. 1,603,116.82 1,626,821.50
Other Current money 721,181.20 2,057,230.85
Total 2,324,298.02 3,684,052.35
Explanation on other cash received in relation to operation activities:
Nil
(2) Other cash paid in relation to operation activities
In RMB
Item Current amount Last amount
Period expenses, operation costs and
5,580,059.48 4,991,881.79
common benefit debts paid
Total 5,580,059.48 4,991,881.79
Explanation on other cash paid in relation to operation activities:
Nil
(3) Cash received from other investment activities
In RMB
Item Current amount Last amount
Explanation on cash received from other investment activities:
Nil
(4) Cash paid related with investment activities
In RMB
Item Current amount Last amount
Explanation on cash paid related with investment activities
Nil
(5) Other cash received in relation to financing activities
In RMB
Item Current amount Last amount
89
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Explanation on other cash received in relation to financing activities:
Nil
(6) Cash paid related with financing activities
In RMB
Item Current amount Last amount
Explanation on cash paid related with financing activities:
Nil
75. Supplementary information to statement of cash flow
(1) Supplementary information to statement of cash flow
In RMB
Supplementary information This Period Last Period
1. Net profit adjusted to cash flow of
-- --
operation activities:
Net profit -2,127,265.81 518,931.58
Add: Assets impairment provision -47,271.09 -24,888.28
Depreciation of fixed assets, consumption
of oil assets and depreciation of productive 145,136.97 81,421.30
biology assets
Amortization of intangible assets 376,500.00 376,500.00
Financial expense(gain listed with “-”) -544,525.55
Decrease of deferred income tax
11,629.41
asset( (increase is listed with “-”)
Decrease of inventory (increase is listed
-2,966,733.68 -6,498,474.09
with “-”)
Decrease of operating receivable accounts
1,556,935.35 -11,317,496.10
(increase is listed with “-”)
Increase of operating payable accounts
-5,754,973.38 12,659,916.36
(decrease is listed with “-”)
Net cash flow arising from operating
-8,806,042.23 -4,748,614.78
activities
2. Material investment and financing not
-- --
involved in cash flow
3. Net change of cash and cash
-- --
equivalents:
90
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Balance of cash at period end 15,177,305.48 19,043,626.88
Less: Balance of cash at year-begin 24,015,287.71 26,752,065.66
Net increasing of cash and cash
-8,837,982.23 -7,708,438.78
equivalents
(2) Net cash paid for obtaining subsidiary in the Period
In RMB
Amount
Including: --
Including: --
Including: --
Other explanation:
Nil
(3) Net cash received by disposing subsidiary in the Period
In RMB
Amount
Including: --
Including: --
Including: --
Other explanation:
Nil
(4) Constitution of cash and cash equivalent:
In RMB
Item Ending balance Opening balance
Ⅰ. Cash 15,177,305.48 24,015,287.71
Including: Cash on hand 77,429.04 132,652.06
Bank deposit available for payment at
15,099,876.44 23,768,774.82
any time
Other monetary fund available for
113,860.83
payment at any time
Ⅲ. Balance of cash and cash equivalent at
15,177,305.48 24,015,287.71
period-end
Other explanation:
91
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Nil
76. Notes of changes of owners’ equity
Explain the name and adjusted amount in “Other” at end of last period:
Nil
77. Assets with ownership or use right restricted
In RMB
Item Ending book value Restriction reasons
Total 0.00 --
Other explanation:
Nil
78. Foreign currency monetary items
(1) Foreign currency monetary items
In RMB
Ending foreign currency Ending RMB balance
Item Convert rate
balance converted
HKD 1.53 0.8952 1.37
Other explanation:
Nil
(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
79. Hedging
Disclosed hedging items and relevant hedging instrument based on hedging’s category, disclosed qualitative and quantitative
information for the arbitrage risks:
Nil
80. Other
Nil
92
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
VIII. Changes of consolidation range
1. Enterprise combined under different control
(1) Enterprise combined under different control in the Period
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:
Nil
(2) Combination cost and goodwill
In RMB
Combination cost
Determination method for fair value of the combination cost and contingent consideration and changes:
Nil
Main reasons for large goodwill resulted:
Nil
Other explanation:
Nil
(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:
Nil
Contingent liability of the acquiree bear during combination:
Nil
Other explanation:
Nil
(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
93
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
the Period or not
□Yes √No
(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
Nil
(6) Other explanation
Nil
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:
Nil
(2) Combination cost
Combination cost
Explanation on contingent consideration and its changes:
Nil
Other explanation:
Nil
(3) Assets and liability of the combined party on combination date
On purchasing date At end of last period
Contingent liability of the combined party bear during combination:
94
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Nil
Other explanation:
Nil
3. Counter purchase
Basic transaction information, basis of counter purchase, whether making up business due to the assets and liability reserved by listed
company and basis, determination of combination cost, amount and calculation on adjusted equity by equity transaction
Nil
4. Subsidiary disposal
Whether lost controlling rights while dispose subsidiary on one time or not
□ Yes √ No
Whether lost controlling rights in the Period while dispose subsidiary on two or more steps or not
□ Yes √ No
5. Other reasons for consolidation range changed
Reasons for changed on consolidation range (such as new subsidiary established, subsidiary liquidated etc.)And relevant information
Nil
6. Other
During the reporting period, there is no change in the scope of consolidation.
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
Shenzhen
Emmelle Bicycle and spare
Shenzhen Shenzhen 70.00% Investment
Industrial Co., parts distribution
Ltd.
Explanation on share-holding ratio in subsidiary different from ratio of voting right:
Nil
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
Nil
95
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Controlling basis for the structuring entity included in consolidated range
Nil
Basis on determining to be an agent or consignor:
Nil
Other explanation:
Nil
(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
Shenzhen Emmelle
30.00% -435,887.37 2,477,240.10
Industrial Co., Ltd.
Explanation on share-holding ratio of minority different from ratio of voting right:
Nil
Other explanation:
Nil
(3) Main finance of the important non-wholly-owned subsidiary
In RMB
Ending 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
Shenzhe
n
Emmelle 37,636,1 839,021. 38,475,1 30,217,6 30,217,6 42,841,4 845,466. 43,686,9 33,976,5 33,976,5
0.00 0.00
Industria 39.70 27 60.97 93.96 93.96 78.93 81 45.74 20.84 20.84
l Co.,
Ltd.
In RMB
Current amount Last amount
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
Shenzhen 46,225,592.7 -1,452,957.89 -1,452,957.89 -9,054,161.55 63,060,684.1 235,250.98 235,250.98 -7,627,354.73
96
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Emmelle 7 3
Industrial
Co., Ltd.
Other explanation:
Nil
(4) Major restriction on using corporate assets and liquidate corporate debts
Nil
(5) Financial or other supporting provided to structuring entity that included in consolidated financial
statement
Nil
Other explanation:
Nil
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:
97
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
(2) Main financial information of the important joint venture
Closing balance/current amount Opening balance /last period amount
Other explanation
(3) Main financial information of the important cooperative enterprise
Closing balance/current amount opening balance /last period amount
Other explanation
(4) Financial summary for un-important joint venture or cooperative enterprise
In RMB
Ending balance /Current amount Opening balance /Last amount
Joint venture -- --
Total numbers measured by share-holding
-- --
ratio
Cooperative enterprise -- --
Total numbers measured by share-holding
-- --
ratio
Other explanation
(5) Assets transfer ability has major restriction from joint venture or cooperative enterprise
(6) Excess losses from joint venture or cooperative enterprise
In RMB
Un-confirmed losses not
Cumulative un-confirmed Cumulative un-confirmed
Name recognized in the Period (or net
losses losses at period-end
profit enjoyed in the Period)
Other explanation
(7) Un-confirmed commitment with investment concerned with joint venture
(8) Contingent liability with investment concerned with joint venture or cooperative enterprise
4. Co-runs operation
Name Main operation place Registered place Business nature Share-holding ratio/ share enjoyed
98
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Directly Indirectly
Share-holding ratio or shares enjoyed different from voting right ratio:
If the co-runs entity is the separate entity, basis of the co-runs classification:
Other explanation
5. Equity in structuring entity that excluding in the consolidated financial statement
Relevant explanation:
6. Other
X. Risk related with financial instrument
The major financial instruments of the Company consist of monetary funds, trade receivables, other receivables, trade payables, other
payables, etc. details of these financial instruments are disclosed in the relevant notes. Risks relating to these financial instruments
and risk management policies adopted by the Company to minimize these risks are detailed as follows. Management of the Company
manages and monitors the risk exposures, to make sure they are under control.
1. Risk management targets and policies
The objectives of the Company’s risk management is to balance the risk and income, reduce the negative risk impact of operating
performance to the lowest level, maximize the interests of shareholders and other equity investors. Based on these objectives, the
Company has established risk management policies to identify and analyze the risks faced by the Company, set adequate risk
acceptable level and designed relevant internal control system to monitor the level of risks. The Company regularly reviews these
policies and related internal control system to adapt to market development and change of operating activities of the Company. The
major risks arising from the Company’s financial instruments are credit risk and liquidity risk.
(1) Credit risk
Credit risk represents the risk of financial loss suffered by a party to a financial instrument due to failure of performance obligation of
another party.
Credit risk of the Company is managed by category. Credit risk mainly arises from bank deposits and trade receivables. Since the
bank deposits of the Company are mainly placed with those banks of high credit rating, the Company expects no significant credit
risk on bank deposits.
As for trade receivables, the Company establishes relevant policies to control credit risk exposure. The Company, based on financial
position of debtors, their credit records, market conditions and other factors, makes assessment on debtors’ credit quality and sets
relevant limit on amount of debt and credit term. The maximum credit risk exposure assumed by the Company equals to the sum of
carrying value of every financial asset in the balance sheet. The Company provides no guarantee that may lead it to be exposed to
credit risks.
(2) Liquidity risk
Liquidity risk refers to the risk of capital shortage of the Company when performing settlement obligation via delivery of cash or
other financial assets.
When managing liquidity risk, the Company maintains and monitors such cash and cash equivalents as deemed adequate by the
99
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
management, so as to satisfy its operation needs and minimize influence of fluctuation of cash flow. Management of the Company
monitors application of bank borrowings to make sure it complies with relevant borrowing agreements.
2. Capital management
The capital management policy of the Company is designed to ensure sustainable operation Of the Company so as to bring
shareholders return and benefit other stakeholders, and to minimize capital cost by maintaining optimal capital structure.
In order to maintain and adjust capital structure, the Company may adjust share dividend paid to shareholders or issue new shares.
The Company monitors capital structure based on gearing ratio (total liabilities divided by total assets). As at 30 June 2017, the
gearing ratio of the Company was 69.04% (31 December 2016: 68.05%)
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
I. Sustaining measured
-- -- -- --
by fair value
(I) Financial assets
measured at fair value
and changes accounted 0.00
in the current profits
and losses
1. Transaction financial
0.00
assets
(1) Investment in debt
0.00
instruments
(2) Investment in equity
0.00
instruments
(3) Derivative financial
0.00
assets
2. Financial assets
appointed to measure at
fair value and changes 0.00
accounted in the current
profits and losses
(1) Investment in debt
0.00
instruments
100
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
(2) Investment in equity
0.00
instruments
(II) Financial assets
0.00
available for sale
(1) Investment in debt
0.00
instruments
(2) Investment in equity
0.00
instruments
(3) Other 0.00
(III) Investment real
0.00
estate
1. Rental land use rights 0.00
2. Rental buildings 0.00
3. Land use rights
holding and preparing to 0.00
transfer after add value
(IV) Biological assets 0.00
1. Consumption
0.00
biological assets
2. Productive biological
0.00
assets
Total assets
continuously measured 0.00
by fair value
(V) Transaction
0.00
financial liabilities
Among them: issue of
0.00
transaction bonds
Derivative
0.00
financial liabilities
Other 0.00
(VI) Financial liabilities
appointed to measure at
fair value and changes 0.00
accounted in the current
profits and losses
Total liabilities
continuously measured 0.00
by fair value
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
II. Non-sustaining
-- -- -- --
measured by fair value
(I) Assets held for sale 0.00
Total assets
non-continuously 0.00
measured by fair value
Total liabilities
non-continuously 0.00
measured by fair value
2. Recognized basis for the market price sustaining and non-persistent measured by fair value on
first-order
Nil
3. Valuation technique and qualitative and quantitative information on major parameters for the fair value
measure sustaining and non-persistent on second-order
Nil
4. Valuation technique and qualitative and quantitative information on major parameters for the fair value
measure sustaining and non-persistent on third-order
Nil
5. Adjustment information and sensitivity analysis of unobservable parameters for the fair value measure
sustaining and non-persistent on third-order
Nil
6. Sustaining items measured by fair value, as for the conversion between at all levels, reasons for
conversion and policy for conversion time point
Nil
7. Changes of valuation technique in the Period
Nil
8. Financial assets and liability not measured by fair value
Nil
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
9. Other
Nil
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
Explanation on parent company of the enterprise
We do not have parent company presently
Ultimate controlling party: Nil
Other explanation:
At the end of last year, the parent company of the Company, Shenzhen Guosheng Energy Investment & Development Co., Ltd.,
issued a document to the Company on February 20, 2017 to give up the status as the actual controller, this company held only
11.52% of the shares of the Company and could not control or govern the Company's personnel, finance, business and other matters,
and also did not participate in the Company's business operations, nor nominated members of the board. Up to the current reporting
period, Shenzhen Guosheng Energy Investment & Development Co., Ltd. is only the largest shareholder of the Company.
2. Subsidiary of the Enterprise
Found more in Note IX-1
3. Cooperative enterprise and joint venture
Found more in Note IX-3
Other cooperative enterprise and joint venture that have related transaction with the Company in the Period or occurred in pervious
period
Name Relationship
Other explanation
Nil
4. Other related party
Other related party Relationship with the Enterprise
Shenzhen Guosheng Energy Investment Development Co., Ltd. The largest shareholder
Other explanation
The Shenzhen Guosheng Energy Investment Development Co., Ltd. holds 11.52% equity of the Company, found more in 1. Parent
company in above mentioned
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
5. Related transaction
(1) Goods purchasing, labor service providing and receiving
Goods purchasing/labor service receiving
In RMB
Approved transaction Whether more than
Related party Content Current amount Last amount
amount the transaction amount
Goods sold/labor service providing
In RMB
Related party Content Current amount Last amount
Explanation on goods purchasing, labor service providing and receiving
Nil
(2) Related trusteeship/contract and delegated administration/outsourcing
Trusteeship/contract
In RMB
Income from
Client/ Entrusting party/ Yield pricing
Assets type Starting date Maturity date trusteeship/contra
contract-out party contractor basis
ct
Explanation on related trusteeship/contract
Nil
Delegated administration/outsourcing
In RMB
Pricing basis of trustee
Client/
Entrusting party/ trustee fee/outsourcing
contract-out Assets type Starting date Maturity date
contractor fee/outsourcing fee recognized in
party
fee the Period
Explanation on related administration/outsourcing
Nil
(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
104
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Lease income in recognized in Lease income in recognized last
Lessor Assets type
the Period the Period
Explanation on related lease
Nil
(4) Related guarantee
As a guarantor for the Company
In RMB
Guarantee completed
Secured party Amount guarantee Starting date Maturity date
(Y/N)
As a secured party for the Company
In RMB
Guarantee completed
Guarantor Amount guarantee Starting date Maturity date
(Y/N)
Explanation on related guarantee
Nil
(5) Borrowed funds of related party
In RMB
Related party Borrowed funds Starting date Maturity date Note
Borrowing
Lending
(6) Assets transfer and debt restructuring of related party
In RMB
Related party Transaction content Current amount Last amount
(7) Remuneration of key manager
In RMB
Item Current amount Last amount
Remuneration of key manager 1,091,420.00 732,061.00
(8) Other related transactions
Nil
105
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
6. Receivable/payable items of related parties
(1) Receivable item
In RMB
Ending balance Opening balance
Item Related party
Book balance Bad debt provision Book balance Bad debt provision
(2) Payable item
In RMB
Item Related party Ending book balance Opening book balance
Shenzhen Guosheng Energy
Other account payable Investment Development Co., 6,500,000.00 6,500,000.00
Ltd.
7. Commitments of related party
Nil
8. Other
Nil
XIII. Share-based payment
1. General share-based payment
□ Applicable √ Not applicable
2. Share-based payment settled by equity
□ Applicable √ Not applicable
3. Share-based payment settled by cash
□ Applicable √ Not applicable
4. Revised and termination on share-based payment
Nil
106
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
5. Other
Nil
XIV. Commitment or contingency
1. Important commitments
Important commitments in balance sheet date
Nil
2. Contingency
(1) Contingency on balance sheet date
Nil
(2) For the important contingency not necessary to disclosed by the Company, explained reasons
The Company has no important contingency that need to disclosed.
3. Other
Nil
XV. Events after balance sheet date
1. Important non-adjustment items
In RMB
Impact on financial status and Reasons on un-able to estimated
Item Content
operation results the impact number
2. Profit distribution
In RMB
3. Sales return
Nil
4. Other events after balance sheet date
On June 19, 2017, the company convened the second extraordinary general meeting of shareholders in 2017 which approved the
proposal on this non-public offering of shares. Pursuant to the subscription agreement for the non-public offering of shares, the four
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
subscribers should respectively pay 1% of the total amount of the subscription to the Company within 30 working days from the date
of approval by the shareholders' general meeting as the performance bond. The Company has received the performance bond of RMB
8 million from the four subscribers after the balance sheet date.
XVI. Other important events
1. Previous accounting errors collection
(1) Retrospective restatement
In RMB
Impact items of statement
Content Treatment procedures Cumulative impacted number
during a comparison
(2) Prospective application
Reasons for prospective application
Accounting error correction Approval procedures
adopted
2. Debt restructuring
Nil
3. Assets replacement
(1) Non-monetary assets change
Nil
(2) Other assets replacement
Nil
4. Pension plan
Nil
5. Discontinued operations
In RMB
Discontinued
Income tax operations profit
Item Revenue Expenses Total profit Net profit
expenses attributable to
owners of parent
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
company
Other explanation
Nil
6. Segment
(1) Recognition basis and accounting policy for reportable segment
Nil
(2) Financial information for reportable segment
In RMB
Item Offset between segments Total
(3) The company has no reportable segments, or unable to disclose total assts and total liability for
reportable segments, explain reasons
Nil
(4) Other explanation
Nil
7. Major transaction and events makes influence on investor’s decision
Nil
8. Other
1. Instructions for continuing operations
On 11th, May 2012, the largest shareholder and biggest creditor of the Company, Shenzhen Guosheng Energy Investment and
Development Co., Ltd. applied to Shenzhen Municipal Intermediate People's Court for reforming the Company as the Company
couldn’t pay off the matured debts and was seriously insolvent. On 12th, Oct., 2012, Shenzhen Municipal Intermediate People's Court
ruled to accept the application proposed by Guosheng Energy according to (2012) Shenzhen Intermediate Court Po Zi No. 30 civil
ruling. In late October, 2012, Shenzhen Municipal Intermediate People's Court ruled to reform the Company since 25th, Oct., 2012
according to (2012) Shenzhen Intermediate Court Po Zi No. 30-1 civil ruling, appointed King & Wood (Shenzhen) Mallesons and
Shenzhen ZhengYuan Liquidation Affairs Co., Ltd. as the custodians of the Company. Subsequently, Shenzhen Municipal
Intermediate People's Court made (2012) Shenzhen Intermediate Court Po Zi No. 30-1 written decision, and approved the Company
to manage property and business affairs by itself under the supervision of custodians according to the law. On 5 November 2013, the
Shenzhen Intermediate People’s Court (2012) Shen Zhong Fa Po Zi No. 30-6 Civil Ruling Paper judged that approved the
reorganization plan of the Company. On 27 December 2013, the Civil Ruling Paper Shenzhen Intermediate People’s Court (2012)
Shen Zhong Fa Po Zi No. 30-10 ruled that the reorganization plan of CBC was completed and bankruptcy procedures of CBC closed
109
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
down.
The Company has solved the debt problem by reforming, realized the net assets with positive value, the main business of bicycle is
able to be maintained and realizes the stable development. The Company has set up the conditions for introducing the recombination
party in the reforming plan, and expects to restore the abilities of sustainable operation and sustained profitability by reorganization.
The conditions of introducing the recombination party includes: the assessed value of net assets should be no less than 2 billion Yuan,
the net assets in the same year for implementing the major reorganization should be no less than 200 million Yuan. The Company
doesn’t have the recombination party at the moment.
2. Proposed non-public issue of shares for purpose of assets acquisition in 2016
In July 2016, the Company started to plan a non-public issue of shares with proceeds to be utilized to acquire material assets. The
Plan on Non-public Issue of A shares in 2016 was considered and approved by the Board of the Company. Based on the due diligence,
audit, assessment and business negation with intermediates, taking into account the conditions of capital market and actual conditions
of the Company, the Board of the Company considered and approved the Proposal Relating to Adjusting the Plan of non-public of A
Shares and the Plan on Non-public Issue of A shares in 2016 (amended) in February 2017. According to the amended plan, the total
proceeds to be raised from this non-public issue are estimated not to exceed RMB 0.8 billion after deduction of issuance expense.
Among which, RMB 660 million is planned to be used in the “online and offline marketing network platform construction and
upgrading project”, and RMB 140 million is planned to be used in the “R & D center construction project”. For additional details,
please refer to the announcement issued by the Board on behalf of the Company. On June 19, 2017, the company convened the
second extraordinary general meeting of shareholders in 2017 which approved the aforesaid proposal on non-public offering of
shares.
As of the date the finacnial statement reported, the above said non-public offering should be approved in CSRC
XVII. Principle notes of financial statements of parent company
1. Accounts receivable
(1) Category
In RMB
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Types Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Total 0.00 0.00% 0.00 0.00% 0.00 0.00% 0.00 0.00%
Receivable with single significant amount and withdrawal bad debt provision separately at end of period:
□ Applicable √ Not applicable
In combination, accounts receivable whose bad debts provision was accrued by age analysis:
□ Applicable √ Not applicable
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:
Nil
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
(2) Bad debt provision accrual, collected or reversed
Accrual bad debt provision 0.00 Yuan; collected or reversed 0.00 Yuan.
Major bad debt provision reversal or collected in the Period
In RMB
Company Amount reversal or collected Collection way
Total 0.00 --
Nil
(3) Receivables actually written-off during the reporting period
In RMB
Item Amount written off
Written-off for the major receivable
In RMB
Nature of Procedures Arising from related
Company Amount written off Reason for write-off
receivables implemented transactions
Total -- 0.00 -- -- --
Explanation for write-off of receivables
Nil
(4) Top 5 receivables at ending balance by arrears party
Nil
(5) Receivable derecognition due to transfer of financial assets
Nil
(6) Assets and liability resulted by receivable transfer and continuous involvement
Nil
Other explanation:
Nil
2. Other accounts receivable
(1) Classification
In RMB
Type Ending balance Opening balance
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Book balance Bad debt provision Book balance Bad debt provision
Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Other account
receivable with
single major amount 6,785,03 6,785,035 9,113,6 9,113,689.7
96.43% 97.32%
and withdrawal bad 5.19 .19 89.74 4
debt provision for
single item
Other receivables
with bad debt 251,350. 250,596.5 251,150
3.57% 753.45 0.30% 2.68% 753.45 0.30% 250,396.55
provision accrual by 00 5 .00
credit portfolio
7,036,38 7,035,631 9,364,8 9,364,086.2
Total 100.00% 753.45 0.01% 100.00% 753.45 0.01%
5.19 .74 39.74 9
Other receivable with single significant amount and withdrawal bad debt provision separately at end of period
√ Applicable □ Not applicable
In RMB
Closing balance
Other receivables (unit)
Other receivables Provision for bad debt Accrue ratio Accrue reason
Shenzhen Emmelle 子公司往来款合并报
6,785,035.19 0.00 0.00%
Industrial Co., Ltd. 表抵消项目
Total 6,785,035.19 -- --
In combination, other accounts receivable whose bad debts provision was accrued by age analysis
√ Applicable □ Not applicable
In RMB
Ending balance
Age
Other receivable bad debts provision Accrual ratio
Within one year
Within one year 68,588.00 205.16 0.30%
Subtotal of within one year 68,588.00 205.16 0.30%
1-2 year 182,762.00 548.29 0.30%
Total 251,350.00 753.45 0.30%
Explanations on combination determine:
Nil
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
112
深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
□ Applicable √ Not applicable
(2) Bad debt provision accrual, collected or reversed
Accrual bad debt provision 0 Yuan; collected or reversed 0 Yuan.
Major bad debt provision reversal or collected in the Period
In RMB
Company Amount reversal or collected Collection way
Total 0.00 --
Nil
(3) Other receivables actually written-off during the reporting period
In RMB
Item Amount written off
Written-off for the major other receivable:
In RMB
Nature of other Procedures Arising from related
Company Amount written off Reason for write-off
receivables implemented transactions
Total -- 0.00 -- -- --
Explanation for write-off of other receivables:
Nil
(4) Other receivables by nature
In RMB
Nature Ending book balance Opening book balance
Current money 6,785,035.19 9,113,689.74
Margin or deposit 239,950.00 239,750.00
Equipment amount 11,400.00 11,400.00
Total 7,036,385.19 9,364,839.74
(5) Top 5 other receivables at ending balance by arrears party
In RMB
Ratio in total
Ending balance of
Company Nature Ending balance Book age ending balance of
bad bet provision
other receivables
Shenzhen Emmelle Current money 6,785,035.19 Within one year 96.43% 0.00
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Industrial Co., Ltd.
Shenzhen Materials
Margin or deposit 135,723.00 0-2 year 1.93% 407.17
Group Co., Ltd.
Shenzhen
Anjingheng Margin or deposit 90,100.00 1-2 year 1.28% 270.30
Industrial Co. Ltd.
Shenzhen
Baifanghe Property Margin or deposit 13,627.00 1-2 year 0.19% 40.88
Co., Ltd.
Shenzhen
Hongkang
Equipment
Instrument 11,400.00 1-2 year 0.16% 34.20
amount
Technology Co.,
Ltd.
Total -- 7,035,885.19 -- 99.99% 752.55
(6) Account receivable with government subsidy involved
In RMB
Time, amount and basis
Company Item Ending balance Ending book age
for money collected
Total -- 0.00 -- --
Nil
(7) Other receivable derecognition due to transfer of financial assets
Nil
(8) Assets and liability resulted by other receivable transfer and continuous involvement
Nil
Other explanation:
Nil
3. Long-term equity investment
In RMB
Ending balance Opening balance
Item
Book balance Impairment Book value Book balance Impairment Book value
Investment for
1,400,000.00 1,389,620.27 10,379.73 1,400,000.00 1,389,620.27 10,379.73
subsidiary
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Total 1,400,000.00 1,389,620.27 10,379.73 1,400,000.00 1,389,620.27 10,379.73
(1) Investment for subsidiary
In RMB
Ending balance of
Impairment
The invested entity Opening balance Increased Decreased Ending balance impairment
accrual
provision
Shenzhen
Emmelle Industrial 1,400,000.00 0.00 0.00 1,400,000.00 0.00 1,389,620.27
Co., Ltd.
Total 1,400,000.00 0.00 0.00 1,400,000.00 0.00 1,389,620.27
(2) Investment for associates and joint venture
In RMB
+,-
Ending
Other Cash
Investme balance
Additiona comprehe dividend
Opening nt gains Other Ending 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
Subtotal 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
II. Associated enterprise
Total 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(3) Other explanation
Nil
4. Operating income and cost
In RMB
Current amount Last amount
Item
Income Cost Income Cost
Other business 3,228,905.96 1,994,075.80 3,476,770.26 2,092,043.56
Total 3,228,905.96 1,994,075.80 3,476,770.26 2,092,043.56
Other explanation:
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Nil
5. Investment gains
In RMB
Item Current amount Last amount
6. Other
Supplementary information to statement of cash flow
Item This Period Last Period
I. Net profit adjusted to cash flow of operation activities:
Net profit -674,307.92 283,680.60
Add: Assets impairment provision - -
Depreciation of fixed assets, consumption of oil assets and
118,380.84 53,177.68
depreciation of productive biology assets
Amortization of intangible assets 376,500.00 376,500.00
Amortization of long-term deferred expenses - -
Loss from disposal of fixed assets, intangible assets and
- -
other long-term assets(gain is listed with “-”)
Loss of disposing fixed assets(gain is listed with “-”) - -
Loss from change of fair value (gain is listed with “-”) - -
Financial expenses (gain is listed with “-”) - -
Investment loss (gain is listed with “-”) - -
Decrease of deferred income tax asset( (increase is listed
- -
with “-”)
Increase of deferred income tax liability (decrease is listed
- -
with “-”)
Decrease of inventory (increase is listed with “-”) - -
Decrease of operating receivable accounts (increase is listed
2,003,606.92 2,435,690.70
with “-”)
Increase of operating payable accounts (decrease is listed
-1,576,060.52 -270,309.03
with “-”)
Other -
Net cash flow arising from operating activities 248,119.32 2,878,739.95
II. Material investment and financing not involved in cash
flow:
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Item This Period Last Period
Conversion of debt into capital - -
Switching Company bonds due within one year - -
Financing lease of fixed assets - -
III. Net change of cash and cash equivalents: - -
Balance of cash at period end 1,391,537.61 1,118,850.04
Less: Balance of cash at period -begin 1,143,418.29 1,199,934.09
Add: Balance of cash equivalent at period-end - -
Less: Balance of cash equivalent at period-begin - -
Net increasing of cash and cash equivalents 248,119.32 -81,084.05
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 Diluted EPS
Basic EPS (RMB/Share)
(RMB/Share)
Net profits belong to common stock
-12.51% -0.0031 -0.0031
stockholders of the Company
Net profits belong to common stock
stockholders of the Company after
-14.07% -0.0035 -0.0035
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
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
(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
Nil
4. Other
Nil
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深圳中华自行车(集团)股份有限公司 2017 年半年度财务报告
Section XI. Documents available for reference
1. Accounting statement carrying the signatures and seals of the legal representative, person in charge of accounting and person in
charge of accounting organ.
2. Originals documents of the Company and manuscripts of public notices that disclosed in the newspaper designated by CSRC in the
report period.
3. English version of the Semi-Annual Report 2017.
119
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