深圳市深粮控股股份有限公司2025年半年度报告全文
SHENZHEN CEREALS HOLDINGS CO. LTD.SEMI-ANNUAL REPORT 2025
【August 2025】
1深圳市深粮控股股份有限公司2025年半年度报告全文
Section I. Important Notice Contents and Interpretation
Board of Directors the board of supervisors all directors supervisors and senior executives
of SHENZHEN CEREALS HOLDINGS CO. LTD. hereby confirm that there are no any
fictitious statements misleading statements or important omissions carried in this report
and shall take all responsibilities individual and/or joint for the reality accuracy and
completion of the whole contents.Principal of the Company Wang Zhikai Head of Accounting Lu Yuhe and Head of
Accounting Institution (Accounting Supervisor) Lu Chengjun hereby confirm that the
Financial Report of Semi-Annual Report 2024 is authentic accurate and complete.All Directors have attended the board meeting for deliberation of this Report.Concerning the forward-looking statements with future planning involved in the annual
report they do not constitute a substantial commitment for investors. Securities Times China
Securities Journal Shanghai Securities Journal and the CNINFO website (www.cninfo.com.cn)
are the media appointed by the Company for information disclosure. All information of the
Company disclosed in the above mentioned media should prevail. Investors are advised to
exercise caution of investment risks.The Company has analyzed the risk factors that the Company may exist and itscountermeasures in the report. Investors are advised to pay attention to read “Risks faced bythe company and corresponding measures” in the report of Section III “ManagementDiscussion and Analysis of the Operation”.This report has been prepared in Chinese and English version respectively. In the event of
difference in interpretation between the two versions Chinese report shall prevail.The Company has no plan of cash dividend distributed no cash bonus and capitalizing of
common reserves either carried out.
2深圳市深粮控股股份有限公司2025年半年度报告全文
Content
Section I. Important Notice Contents and Interpret... 2
Section II Company Profile and Main Financial Inde... 6
Section III Management Discussion and Analysis of ... 9
Section IV Corporate Governance Environmental and ...20
Section V. Important Events..........................21
Section VI. Changes in Shares and Particulars abou.. 25
Section VII. Corporate Bonds.........................30
Section VIII. Financial Report.......................31
Section IX Other Reported Data......................155
3深圳市深粮控股股份有限公司2025年半年度报告全文
Documents Available for Reference
1. Text of financial statement with signature and seals of legal person person in charge of accounting works
and person in charge of accounting institution;
2. Original and official copies of all documents which have been disclosed in the reporting period;
3. Original copies of semi-annual report 2025 with signature of the company’s principal.
4深圳市深粮控股股份有限公司2025年半年度报告全文
Interpretation
Items Refers to Contents
SZCH/Listed Company /the Company/ Refers to Shenzhen Cereals Holdings Co. Ltd.Shenshenbao/Shenbao Company Refers to Shenzhen Shenbao Industrial Co. Ltd
SZCG Refers to Shenzhen Cereals Group Co. Ltd
Doximi Refers to Shenzhen Shenliang Doximi Business Co. Ltd.Shenzhen Flour Flour Company Refers to Shenzhen Flour Co. Ltd
Shenliang Quality Inspection Refers to Shenliang Quality Inspection Co. Ltd.Dongguan Logistics Refers to Dongguan Shenliang Logistics Co. Ltd.Shenbao Huacheng Refers to Shenzhen Shenbao Huacheng Technology Co. Ltd.Hualian Company Refers to Shenzhen Hualian Grain and Oil Trading Co. Ltd.Shenliang Cold Chain Refers to Shenzhen Shenliang Cold Chain Logistics Co. Ltd.Shenliang Property Refers to Shenzhen Shenliang Property Development Co. Ltd.SZCH Big Big Kitchen Refers to Shenzhen Shenliang Big Kitchen Food Supply ChainCo. Ltd
Grain and Oil Purchase and Sales Branch Refers to Grain and Oil Purchase and Sales Branch of ShenzhenCereals Group Co. Ltd
Dongguan Oil & Food Refers to Dongguan Shenliang Oil & Food Trade Co. Ltd.Shenshenbao Investment Refers to Shenzhen Shenshenbao Investment Co. Ltd
Shenzhen Shenliang Food Refers to Shenzhen Shenliang Food Co. Ltd.Shenzhen Agricultural Power Group Co. Ltd.Shenzhen Agricultural Power Group/Food Material originally named Shenzhen Food Materials Group Co.Group/Food Group/Fude Capital Refers to Ltd Shenzhen Food Group Co. Ltd and Shenzhen FudeState Capital Operation Co. Ltd. is the controlling
shareholder of the company
Agricultural Products Refers to Shenzhen Agricultural Products Group Co. Ltd
SIHC Refers to Shenzhen Investment Holdings Co. Ltd.Shenzhen SASAC Refers to Shenzhen Municipal People’s Government State-ownedAssets Supervision & Administration Commission
CSRC Refers to China Securities Regulation Commission
SSE Refers to Shenzhen Stock Exchange
Grant Thornton CPAs Refers to Grant Thornton Certified Public Accountant LLP(Special General Partnership)
Article of Association Refers to Article of Association of Shenzhen Cereals HoldingsCo. Ltd.RMB/10 thousand Yuan Refers to CNY/ten thousand Yuan
5深圳市深粮控股股份有限公司2025年半年度报告全文
Section II Company Profile and Main Financial Indexes
I. Company information
Short form for share SZCH Shenliang B Stock code 000019 200019
Listing stock exchange Shenzhen Stock Exchange
Chinese name of the
Company 深圳市深粮控股股份有限公司
Abbr. of Chinese name of the
Company 深粮控股
English name of the Company
(if applicable) SHENZHEN CEREALS HOLDINGS CO. LTD
Legal Representative Wang Zhikai
II. Person/Way to contact
Secretary of the Board Rep. of security affairs
Name Chen Xiaohua Chen Kaiyue Liu Muya
Contact add. 13/F Tower A World Trade Plaza No.9 Fuhong 13/F Tower A World Trade Plaza No.9 Fuhong Rd.Rd. Futian District Shenzhen Futian District Shenzhen
Tel. 0755-83778690 0755-83778690
Fax. 0755-83778311 0755-83778311
E-mail 000019@slkg1949.com chenky@slkg1949.com liumy@slkg1949.com
III. Other information
1. Company contact information
Has the registered address office address postal code website email address etc. of the company changed during the reporting
period
□ Applicable □Not applicable
The registered address office address postal code website and email address of the company remained unchanged during the
reporting period. Please refer to 2024 annual report for details.
2. Information disclosure and location
Has the information disclosure and location changed during the reporting period
□ Applicable□ Not applicable
The website and media name and website of the stock exchange where the company disclosed its semi-annual report and the place
of placement of the company’s semi-annual report remains unchanged during the reporting period as detailed in 2024 annual
report.
3. Other relevant information
Is there any change in other relevant information during the reporting period
□ Applicable □Not applicable
IV. Main accounting data and financial indexes
Is the Company required to retrospectively adjust or restate prior year’s accounting data
□ Yes □ No
Reasons for retrospective adjustment or restatement
Business combination under common control
6深圳市深粮控股股份有限公司2025年半年度报告全文
Year-on-year increase
Amount in current Amount in last period (+)/decrease (-)
period
Before adjustment After adjustment After adjustment
Operating income
(RMB) 2384227437.90 2416452919.61 2416452919.61 -1.33%
Net profit attributable
to shareholders of the 176015525.87 129030850.78 129001273.54 36.44%
listed company (RMB)
Net profit attributable
to shareholders of the
listed company after
deducting non- 158014905.62 116892371.77 116862794.53 35.21%
recurring gains/losses
(RMB)
Net cash flow arising
from operating 737278566.81 -158531444.41 -158549385.01 565.02%
activities (RMB)
Basic earnings per
share (RMB/Share) 0.1527 0.1120 0.112 36.34%
Diluted earnings per
share (RMB/Share) 0.1527 0.1120 0.112 36.34%
Weighted average ROE 3.51% 2.64% 2.64% 0.87%
Year-on-year increase
Ending balance of Ending balance of last period (+)/decrease (-)
current period
Before adjustment After adjustment After adjustment
Total assets (RMB) 7058637412.85 7714550508.01 7714550508.01 -8.50%
Net assets attributable
to shareholder of listed 4922671937.79 4919674142.82 4919674142.82 0.06%
company (RMB)
Net profit after excluding the impact of share-based payments
Current period
Net profit after excluding the impact of share-based payments
175978271.28（RMB）
V. Difference of the accounting data under accounting rules in and out of China
1. Difference of the net profit and net assets disclosed in financial report under both IAS
(International Accounting Standards) and Chinese GAAP (Generally Accepted Accounting
Principles)
□ Applicable □Not applicable
In RMB
Net profit Net asset
Current amount Last amount Ending balance Beginning balance
Under Chinese GAPP 176015525.87 129001273.54 4922671937.79 4919674142.82
Items and amount adjusted under IAS
1067000.001067000.00
Under IAS 176015525.87 129001273.54 4923738937.79 4920741142.82
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
7深圳市深粮控股股份有限公司2025年半年度报告全文
3. Explanation on data differences under the accounting standards in and out of China; as for the
differences adjustment audited by foreign auditing institute listed name of the institute
□ Applicable□ Not applicable
VI. Items and amounts of non-recurring gains/losses
□Applicable □Not applicable
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset (including the written-off of accrued impairment
provision of assets) -18422.68
Governmental subsidies reckoned into current gains/losses (except for those with normal operation business
concerned and conform to the national policies & regulations and are enjoyed according to certain standard 4186124.46
and having a continuous impact on the company’s gains/losses)
Gains/losses on Non-monetary Exchange 3165237.35
Other non-operating income and expenditure except for the aforementioned items -134391.52
Other gains/losses that meet the definition of non-recurring gains/losses 16802279.39
Less: impact on income tax 6000206.75
Impact on minority shareholders’ equity (after-tax)
Total 18000620.25
Other gains/losses that conform to the definition of non-recurring gains/losses:
□ Applicable□ Not applicable
The Company does not have other gains/losses that conform to the definition of non-recurring gains/losses.Information on the definition of non-recurring gains/losses listed in the Q&A Announcement No.1 on Information Disclosure for
Companies Offering Their Securities to the Public --- Non-recurring Gains/Losses as Recurring Gains/Losses
□Applicable □Not applicable
The Company does not have any non-recurring gains/losses listed in the Q&A Announcement No.1 on Information Disclosure for
Companies Offering Their Securities to the Public --- Non-recurring Gains/Losses as Recurring Gains/Losses.
8深圳市深粮控股股份有限公司2025年半年度报告全文
Section III Management Discussion and Analysis of the
Operation
I. Main businesses of the Company during the reporting period
Main business of the Company includes the wholesale and retail business food processing and manufacturing business leasing
and commerce service business.The wholesale and retail business are mainly rice wheat rice in the husk corn sorghum cooking oil and other varieties of
grain and oil as well as the sales of fine tea beverage and condiment. During the reporting period the company overcame many
adverse factors such as decline in market demand and fluctuation of grain price took multiple measures to ensure supply and stable
supply and continued to optimize the products strengthen the brand and expand the market. Mainly supplied wheat rice corn
barley sorghum and other raw grain to customers such as the industry's large traders feed processing and flour processing
enterprises; mainly sold rice flour cooking oil high-quality tea beverages and other products to demand units and community
residents.Food processing and manufacturing business are mainly the processing and the technology research in aspect of flour rice
cooking oil tea and natural plant extracts beverage and condiments etc. The company’s flour brands and products include
“Jinchangman” “Yingshanhong” and “Hongli” series bread flour; “Clivia” and “Canna” series tailored flour for cakes and steamed
bun; “Sunflower” wheat flour for noodles and cookie flour; “Tianlvxiang” wheat flour for bread refined flour and dumpling flour
etc.; Rice products include “Shenliang Doximi” “Guzhixiang” “Gufengxianman” “Runxiangliangpin” “Hexiang” and “TaitaiFukou”. Cooking oil products include brands such as “Shenliang Fuxi” “Shenliang Jinxi” and “Youtian”. Tea brands mainly include
“Ju Fang Yong” tea; “Yichong” fresh extract “Jindiao” instant tea powder and other tea deep-processed products as well as
“Shenbao” chrysanthemum tea lemon tea and “Cha Mi Xiang Qi” and other series of tea drinks. Condiments are mainly “Sanjing”
oyster sauce and sauces. Several brands have formed product series including “SZCH Yushuiqing” rice noodles oil and coarse
cereals series “Jiaxi” rice & noodles series “Jinchangman” noodles & oil series “SZCH Duoxi” rice oil drinking water non-staple
food and condiment series etc. and the launch of Jinyue tea wine continues to enrich the product structure. “Grain Duoxi” rice oil
miscellaneous grains mushroom nut series etc; The launch of “Jin Yue” tea wine continued to enrich the product structure.The leasing and business service refers to providing the professional import & export trade warehousing & storage logistic &
distribution quality inspection & information technology services property leasing and management business operation
management services for all kinds of clients in the upstream and downstream of the industrial chain by using the advantage of brand
reputation operation service capacity and facility technology that accumulated in field of grain and oil market. Dongguan smart gain
logistics complex is a comprehensive grain distribution service body integrating five major functions: grain & oil terminal transit
reserve testing & distribution processing & production and market trading; Shenliang Quality Inspection was awarded as
“Guangdong Shenzhen National Grain Quality Monitoring Station”. Shenliang Property is a professional assets management
platform enterprise.II. Core competitiveness analysis
The company enhances the endogenous power by deepening reform strengthens the “extensive” development by innovation
cooperation and continuously upgrades and transforms the governance pattern development quality and guarantee ability and has
embarked on a path of sustainable and high-quality development through self-innovation and become a highly competitive
innovative and influential backbone grain enterprise in the domestic grain industry.
(1) Operation mechanism
9深圳市深粮控股股份有限公司2025年半年度报告全文
The core management team of the company has rich experience and has a strong strategic vision and pragmatic spirit.Combined with the actual development of the Company formulated a set of effective mechanisms to promote the quality and
efficiency of business development. The company vigorously promotes the innovation and transformation of business models and
actively promotes the transition from “trade-oriented enterprises” to “service-oriented enterprises” and from “operationalmanagement and control” to “strategic management and control”. In business control through the own information management
system realizes a seamless link between the “operation” and “planning capital quality inspection inventory risk control anddiscipline” effectively reduces the operational risks while fully participating in the market competition and achieving a deep
integration of “ensuring grain security” and “promoting development”. Through deeply promotes the strategy of “talentstrengthening the enterprises” continuously innovative talent training mechanism to creates a high-quality talent supply chain the
company has established an open talent team to meet the long-term development of enterprises and reserve intelligence for the
enterprise upgrading and development. The company has innovated and implemented the performance appraisal mechanism and
established a result-oriented incentive and restraint assessment mechanism which effectively built the performance culture and
stimulated the viability within the enterprise. The company insists on cultivating and advocating the corporate culture with
“people-oriented performance first excellent quality and harmony” as the core values combines the personal development goals
of employees with the corporate vision and enhances the cohesiveness and centripetal force of the enterprise.
(2) Business model
The company deeply engages in segmenting the target market provides diversified product supply services for customers in
different areas of the industry chain establishes a multi-level product supply network covering online and offline and realizes the
transformation of product supply to “remoteness intelligentization and self-service”. In terms of grain and oil trading services the
bulk commodity trading platform www.zglsjy.com.cn created by its subsidiary Hualian Company efficiently integrates business
flow logistics and information flow improves circulation efficiency and provides spot listings one-way bidding basis price
financing logistics quality inspection information and other services for internal business units suppliers and customers. In terms
of e-commerce SZCH Doximi actively promotes the development of new grain retail formats such as “Internet + Grain” and has
opened channels on e-commerce platforms such as Tmall and Jingdong Mall so as to promote the deep integration of online and
offline e-commerce platforms. In terms of group meal supply its subsidiary SZCH Big has established a one-stop distribution
service platform serving large end customers providing high-quality oil and grain services for group users such as enterprises
schools and government institutions.
(3) Information technology
The company attaches great importance to the transformation and upgrading of traditional industries with modern
technological means and actively introduces new-generation information technologies such as the Internet of Things cloud
computing big data and mobile Internet into grain management forming an information system that can cover the entire industrial
chain of the grain industry and promoting the “Internet + Grain” industry development. The company’s informatization construction
capability is at the leading level in the grain reserves industry taking the lead in building the warehouse management of
“standardization mechanization informatization and harmlessness” in the industry the self-developed “Grain Logistics InformationSystem (SZCG GLS)” has built a framework for the construction of grain informatization work innovated the grain management
model led the development direction of the grain industry and became a benchmark for the national grain industry. The project was
awarded the “National IoT Major Application Demonstration Project” by the National Development and Reform Commission and
the Ministry of Finance. The company has undertaken a number of national-level research projects the results of a number of
informatization projects have won national provincial and municipal awards and dozens of information systems have been
developed and are operating normally.
(4) R&D capabilities
10深圳市深粮控股股份有限公司2025年半年度报告全文
The company has strong research and development capabilities in the field of food and beverage and gathers leading
technological advantages and equipment systems. The subsidiary Shenbao Huacheng owns the Guandong engineering technology
research center Jiangxi provincial enterprise technology center Shenzhen municipal research and development center (technology
center) and Shenzhen plant deep processing technology engineering laboratory and have obtained national high-tech enterprise
certification. And also owns a number of patented technologies for tea powder tea concentrated juice and plant extraction
independently researched and developed published dozens of scientific papers and won a number of awards such as Science and
Technology Progress Award of the Ministry of Agriculture Shennong Chinese Agricultural Science & Technology Award of the
Chines Society of Agriculture Science & Technology Achievement Award of Chinese Academy of Agricultural Sciences Science
and Technology Award of China National Light Industry Council Zhejiang Science and Technology Award Jiangxi Science and
Technology Progress Award and Shenzhen Science & Technology Progress Award etc. presided over or participated in the
preparation of several national standards and industrial standards.
(5) Quality control
The company implements grain and oil quality standards that are higher than national standards. The subordinate Shenliang
Quality Inspection has the leading grain and oil quality inspection technology and equipment in the domestic grain industry and isincluded in the national grain quality supervision and inspection system. It was awarded the “Guangdong Shenzhen National GrainQuality Monitoring Station” by the State Administration of Grain and obtained the assessment certificate of agricultural product
quality and safety inspection agency (CATL) and the qualification certificate of inspection agency (CMA) etc and passed the
certification of nearly one thousand testing capability items. Shenliang Quality Inspection lists pesticide residues heavy metal
pollutants fungal toxins and other hygiene indicators as well as food taste indicators in the daily inspection indicators. It has the
testing capability for four categories of indicators including conventional grain quality storage quality and food safety. The
detection capability can meet the relevant quality detection requirements of grain and oil products and can accurately analyze thenutritional composition and hygienic indicators of the grain and determine its storage and edible quality. It has created the “digitallaboratory” in the grain industry real-time monitoring of the entire process of cuttings testing distribution etc. relying on
collaborative platforms to save retrieve integrate analyze and share grain and oil testing data to achieve 100% coverage of grain
& oil product inspection. Has the internationally recognized quality control system. Its subsidiary Shenbao Huacheng Company
has established a quality control system recognized by large international food and beverage companies.
(6) Brand effect
The company was awarded the “Top 500 Service Enterprises in China” “China’s Most Influential Grain & Oil Group”
“China Top Ten Grain and Oil Groups” “China Top 100 Grain and Oil Enterprises” “National Leading Enterprise SupportingGrain and Oil Industrialization” “National Quality Benchmark” and “Top 10 Food Digital Technology Applications”. It has been
selected as one of the “First Batch of National Emergency Food Security Enterprises” “Top 100 Agricultural Industrialized HeadEnterprises in China” “Top 10 Head Enterprise in the Grain Industry” and “The National Demonstration Enterprise of AssuredGain & Oil Demonstration Project” etc.. It is the “Rice Bag” trusted by the public. Strengthen brand leadership actively explore
and cultivate excellent public brands rely on quality to win recognition reputation and market share and form a series of high-
quality grain and oil products centered on China Good Grain and Oil Shenzhen Well-known Brands and Shenzhen Products. The
company owns well-known brands and platforms such as “Shenzhen Flour” “SZCH Duoxi” “SZCH Yushuiqing” “Big Kitchen”
“Shenbao Tea Store” “Ju Fang Yong” “Cha Mi Xiang Qi” “Sanjing” “www.zglsjy.com.com” and “doximi.com”.III. Main business analysis
Overview
In the first half of 2025 facing a challenging macroeconomic environment and pressing development tasks the company
focused on its core business strengthened the implementation of key projects and maintained overall performance characterized
by “pressure on tasks orderly planning and improved efficiency.” Operations remained stable with steady progress and the
11深圳市深粮控股股份有限公司2025年半年度报告全文
development foundation continued to strengthen. As of June 2025 the company’s total assets stood at 7.059 billion yuan with net
assets of 4.924 billion yuan maintaining a healthy and stable asset-liability ratio of 30.24% and a well-controlled financial
structure. Due to market fluctuations in the non-grain and oil segments operating revenue was 2.384 billion yuan representing a
slight year-on-year decrease of 1.33%. However through optimizing the business structure and activating idle assets the company
achieved a total profit of 219 million yuan up 33.28% year-on-year delivering counter-cyclical growth.In the first half of 2025 with the guiding principle of “ensuring grain supply stability and improving quality and efficiency”
the company enhanced capabilities improved mechanisms and promoted operations to build a modern management system
covering the full lifecycle of reserve grain. Under the dual drivers of systematically optimizing operational processes and
dynamically allocating resources all storage facilities coordinated efficiently significantly improving inbound and outbound
logistics efficiency; the company successfully passed provincial and municipal inspections of policy-based grain and oil reserves
with quantities verified quality up to standard and stock conditions stable and reliable and completed the 2025 municipal reserve
grain and oil stock increase ahead of schedule; the company established Shenliang Intelligent Storage Co. Ltd. operating reserve
grain management as an independent business and made solid progress on several initiatives including the upgrade of the grain
condition temperature monitoring system and the Grain Condition Cloud Platform. Overall the company’s core business
foundation continued to solidify its capacity to safeguard food security further improved and it demonstrated strong operational
resilience and development potential during a period of deep industry adjustment.The company accelerated the implementation of key projects. The Dongguan logistics hub made full efforts to advance
infrastructure construction and functional upgrades. Expedited the construction of Plant No. 2 and Berth No. 3 at the A3 site.Continued to refine and upgrade the equipment and processes at Berth No. 4. Construction and operational preparation of the
Shenshan Grain Depot advanced in parallel. The company successfully secured the operating rights for the depot and the
Shenshan Grain Depot branch has completed business registration. The main structures of both the southern and northern
warehouse areas have been largely completed and the project has fully entered the stage of electromechanical equipment
installation commissioning and information system development. In line with the established plan key tasks such as stock
compression management and grain relocation have been advanced in an orderly manner laying a solid foundation for subsequent
operational management.The company achieved a breakthrough in value creation through strategies such as deepening channel networks innovating
the product portfolio and enhancing brand value. Dongguan Logistics opened a new business track in the oat segment continued
to advance credit cooperation with multiple state-owned grain reserve depots in the Pearl River Delta and worked on building a
soybean supply chain platform. By extending the transshipment business supply chain the company developed an innovative
“volume-price linkage” business model and launched a dedicated liner route connecting Yangtze River Delta ports with YijiaLogistics and the Shenliang Dongguan Logistics terminal. This seamless integration of “North-South Ports + Logistics +Warehousing” across the full industry chain has boosted revenue from transshipment operations. The Trading Company expanded
its industrial customer base driving growth in industrial rice flour sales. The Flour Company launched new products such as
industrial noodle flour and specialty bread flour securing multiple new clients. The Oils & Fats Company closely monitored
market trends to achieve growth in bulk trade volumes. In terms of brand value enhancement Hualian Company continued to
advance deep-processing cooperation with leading feed and livestock enterprises with sales of its “Shenliang Shuangbao” rice
increasing year-on-year. Big Company developed the “Micang Market” platform established a number of stable clients and was
recognized as an “11th Batch National Assured Grain and Oil Demonstration Processing Enterprise” and a “Key LeadingAgricultural Enterprise in Guangdong Province.” Doximi continued to expand its business in the liquor sector achieving year-on-
year growth in sales revenue for the first half of the year. Shenliang Foods advanced both online and offline channels developing
products such as lemongrass lemon tea and deep-processed corn products.Industry integration advanced in an orderly manner. The company completed the internal transfer of equity between Mount
Wuyi Shenbao Rock Tea Co. Ltd. and Hangzhou Fuhaitang Tea Ecology Technology Co. Ltd promoting resource integration in
12深圳市深粮控股股份有限公司2025年半年度报告全文
the tea deep-processing segment. In terms of collaborative integration leveraging the “Fushi Ji” brand as a bridge the company
achieved a strategic upgrade from single-point breakthroughs to group-wide synergy. Multiple subsidiaries including Doximi Big
Kitchen Shenshenbao Investment joined the “Seasonal Dining” Futian Pavilion and participated in various promotional events
such as the “Fushi Ji” New Year Goods Festival and the Dragon Boat Festival. Through resource integration and brand
collaboration the company has built a new pattern of deep cooperation across the upstream and downstream of the industrial chain.Year-on-year changes in major financial data
In RMB
Current period Last period YoY increase Reason for change
(+)/decrease (-)
It is mainly affected by the grain and oil market
Operating income 2384227437.90 2416452919.61 -1.33% conditions and demand; the company's bulk grainand oil trade pace has slowed down and the sales
volume and revenue have decreased year-on-year.It is mainly due to the reduction in the bulk grain
Operating cost 1942145136.11 1985425763.32 -2.18% and oil trade business leading to year-on-year
decrease in the corresponding operating costs.It is mainly due to the year-on-year decrease in
Sales expense 60709520.71 73460826.96 -17.36% expenses such as port terminals and warehousing
and handling.Administration It is mainly because the company has increased
101939577.47 94744449.01 7.59% the salary expenses accrued based on operating
expense performance.Financial expense 19041945.47 16769961.72 13.55% It is mainly due to the increase in borrowinginterest expenses.It is mainly because the profit rose and the
Income tax expense 43337305.16 34216568.64 26.66% accrued income tax expenses have increased year-
on-year.It is mainly because the company continued to
increase technical investment in the deep
R&D expense 10208632.21 9813271.21 4.03% processing of food and tea and constantly
improves its independent research and
development capabilities.Cash flows arising It is mainly due to the increase in the net inflow
from operating 737278566.81 -158549385.01 565.02% of sales from the company's grain and oil tradebusiness.activities
Cash flows arising It is mainly due to the year-on-year increase in
from investing 47631825.95 7279212.52 554.35% cash received from the disposal of intangibleassets this year.activities
Cash flows arising It is mainly due to the increase in cash outflows
from financing -770936644.64 -7288740.77 -10477.09% for repaying short-term loans this year resultingin year-on-year decrease in the net cash flow from
activities financing activities.Net increase of cash It is mainly due to the year-on-year increase in net
13913927.82-158510828.40108.78%
and cash equivalents cash flow from operating activities.There have been significant changes in the component or sources of profits during the reporting period of the company
□Applicable □Not applicable
There have been no significant changes in the composition or sources of profits during the reporting period of the company.Component of operating income
In RMB
Current period Last period YoY increase
Amount Ratio in operating Ratio in (+)/decrease (-)income Amount operating income
Total operating
2384227437.90100%2416452919.61100%-1.33%
income
13深圳市深粮控股股份有限公司2025年半年度报告全文
By industries
Wholesale and
retail 1523443008.24 63.90% 1516982535.46 62.78% 0.43%
Leasing and
business services 505582681.67 21.20% 490757531.22 20.31% 3.02%
Manufacturing 355201747.99 14.90% 408712852.93 16.91% -13.09%
By products
Grain & oil trading
and processing 1719517762.28 72.12% 1739184083.86 71.97% -1.13%
Grain & oil
storage logistics 429859561.10 18.03% 427474421.05 17.69% 0.56%
and services
Food beverage
and tea processing 159126993.95 6.67% 186511304.53 7.72% -14.68%
Leasing and others 75723120.57 3.18% 63283110.17 2.62% 19.66%
By region
Domestic market 2370132495.12 99.41% 2399676960.09 99.31% -1.23%
Oversea market 14094942.78 0.59% 16775959.52 0.69% -15.98%
Industries products or regions that account for more than 10% of the operating income or operating profit of the Company
□ Applicable □Not applicable
In RMB
Gross YoY increase YoY increase YoY increase
Operating income Operating cost profit (+)/decrease (-) (+)/decrease (-) (+)/decrease
ratio of operating of operating (-) of grossrevenue cost profit ratio
By industry
Wholesale and
1523443008.241469246267.533.56%0.43%-0.12%-1.52%
retail
By product
Grain & oil
trading and 1719517762.28 1655889764.85 3.70% -1.13% -2.17% -0.77%
processing
By region
Domestic
2370132495.121931715540.0218.50%-1.23%-2.05%1.79%
market
In the event that the statistical caliber of the company’s main business data is adjusted during the reporting period the main business
data of the company has been adjusted according to the caliber at the end of the reporting period in the past year.□ Applicable □Not applicable
IV. Analysis of non-main business
□Applicable □Not applicable
In RMB
Amount Ratio in Sustainabletotal profit Description of formation or not(Y/N)
Investment income -4462721.92 -2.03% N
Gains/losses of fair
value variation 0.00 0.00% N
Mainly due to the downward trend in prices of some
grain and oil varieties provisions for inventory
depreciation are made on the basis of market prices.Asset impairment -42521010.08 -19.39% When goods for which provisions for inventory N
depreciation have been made the provision for
inventory depreciation withdrawn will be carried
forward to offset current costs.
14深圳市深粮控股股份有限公司2025年半年度报告全文
Non-operating
income 146701.53 0.07% N
Non-operating
expense 299515.73 0.14% N
V. Analysis of assets and liabilities
1. Major changes of assets component
In RMB
End of current period End of last financial period
Ratio in Ratio in Ratio Notes of major changes
Amount total Amount total changes
assets assets
Monetary fund 179802996.52 2.55% 168199291.23 2.18% 0.37%
Account
receivable 255093404.70 3.61% 235789565.91 3.06% 0.55%
It is mainly due to the
Inventory 3498965021.50 49.57% 4044998642.52 52.43% -2.86% decrease in the company's
inventory of grain and oil.Investment real
estate 293982667.10 4.16% 302075246.75 3.92% 0.24%
Long-term
equity 40894166.52 0.58% 45356888.44 0.59% -0.01%
investment
It is mainly due to the
Fix assets 1996211372.88 28.28% 2009520283.95 26.05% 2.23% depreciation of fixed
assets in the current year.Construction in
progress 48429826.06 0.69% 39312847.70 0.51% 0.18%
Right-of-use
assets 94247032.57 1.34% 115258040.17 1.49% -0.15%
It is mainly due to the
repayment of short-term
Short-term
loans 1086982672.65 15.40% 1484605101.05 19.24% -3.84% bank loans with funds
recovered from operating
activities.Contract
liability 94627461.61 1.34% 126590458.95 1.64% -0.30%
Lease liability 57943870.37 0.82% 78084500.76 1.01% -0.19%
2. Major oversea assets
□ Applicable□ Not applicable
3. Assets and liabilities measured at fair value
□ Applicable ? Not applicable
4. The assets rights restricted till end of the period
Item Ending balance Ending balance of last period
Guarantee deposit -
Letter of credit deposit 3980596.85 3245714.29
Litigation related freezing 2973129.00 6018240.07
Total 6953725.85 9263954.36
15深圳市深粮控股股份有限公司2025年半年度报告全文
VI. Investment analysis
1. Overall situation
□ Applicable □ Not applicable
Investment in reporting period (RMB) Investment in the same period of last year(RMB) Changes (+/-)
290622568.041449600.0019948.47%
2. The major equity investment obtained in the reporting period
□ Applicable ? Not applicable
3. The major non-equity investment performed in the reporting period
□ Applicable ? Not applicable
4. Financial assets investment
(1) Securities investment
□ Applicable ? Not applicable
The Company has no securities investment in the Period
(2) Derivative investment
□ Applicable□Not applicable
The Company has no derivatives investment in the Period
5. Application of raised proceeds
□ Applicable□Not applicable
There was no use of raised funds during the reporting period of the company.VII. Sales of major assets and equity
1. Sales of major assets
□ Applicable □Not applicable
The Company had no sales of major assets in the reporting period.
2. Sales of major equity
□ Applicable□ Not applicable
VIII. Analysis of main holding companies and stock-jointly companies
□ Applicable □Not applicable
Particular about main subsidiaries and stock-jointly companies net profit over 10%
In RMB
Compa
ny Type Main business Registercapital Total assets Net assets
Operating Operating
income profit Net profitname
Shenzh Grain & oil
en Subsidi trading 15300000 647873813 311875850 215234946 16201591 11926033
Cereals ary processing grain 00 3.90 9.18 9.27 0.94 4.18
Group and oil reserve
16深圳市深粮控股股份有限公司2025年半年度报告全文
Co. service
Ltd
Shenzh
en
Hualian
Grain Subsidi Grain & oil 30000000 102431296 412667180. 560702448. 37854373. 38164694.and Oil ary trading 0 5.75 49 20 00 60
Trading
Co.Ltd.Donggu
an Grain & oil
Shenlia Subsidi tradingng ary processing
29800000269828694443825261.478490737.26076658.23345351.
Logisti warehouse and 0 7.68 03 32 38 32
cs Co. logistics
Ltd.Particular about subsidiaries obtained or disposed in reporting period
Applicable ? Not applicable
Explanation on main holding/stock-jointly companies:
Shenzhen Cereals Group Co. Ltd: Business scope: general business items: grain and oil purchase and sales grain and oil storage;
grain and oil and products management and processing (operated by branches); operation and processing of feed (operated by
outsourcing); investment in grain and oil feed logistics projects; establishing grain and oil and feed trading market (including e-
commerce market) (market license is also available); storage (operated by branches); development operation and management of
free property; providing management services for hotels; investing and setting up industries (specific projects are separately
declared); domestic trade; engaging in import and export business; E-commerce and information construction; and grain
circulation service. Licensed business items: the following projects shall be operated only with the relevant examination and
approval documents if they are involved in obtaining approval: information services (internet information service only); general
freight professional transport (refrigerated preservation). Register capital is 1530000000.00 yuan. As of the end of current
period total assets reached 6478738133.90 yuan and net assets amounted to 3118758509.18 yuan and shareholders’ equity
attributable to parent company was 2899618332.75 yuan; in the reporting period the operation revenue net profit and net profit
attributable to shareholder of parent company were 2152349469.27-yuan 119260334.18 yuan and 107858366.62 yuan
respectively.Shenzhen Hualian Grain and Oil Trading Co. Ltd.: Business scope: general business items: domestic trade (except for projects
that laws administrative regulations and decisions of the State Council require approval before registration); engaging in import
and export business (except for projects prohibited by laws administrative regulations and decision of the State Council restricted
projects can be operated only after obtaining permission); online feed sales; information consultation self-owned housing leasing
(excluding talent agency services and other restricted items); international freight forwarding domestic freight forwarding (can
only be operated after being approved by the transport department if laws administrative regulations State Council decision
require the approval of transport department); Licensed business items: following items shall be operated only with the relevant
examination and approval documents if they are involved in obtaining approval: purchase and sale of grain and oil online sales of
grain and oil; information service business (internet information service business only). Register capital is 300000000.00 yuan.As of the end of current period total assets reached 1024312965.75 yuan and net assets amounted to 412667180.49 yuan and
shareholders’ equity attributable to parent company was 412667180.49 yuan; in the reporting period the operation revenue net
profit and net profit attributable to shareholder of parent company were 560702448.20 yuan negative 38164694.60 yuan and
negative 38164694.60 yuan respectively.Dongguan Shenliang Logistics Co. Ltd. Business scope: General business items: Container and bulk cargo storage and other
supporting services; Container and bulk cargo transportation; Production: food (grain and oil) feed and feed additives; Grain
17深圳市深粮控股股份有限公司2025年半年度报告全文
procurement; Wholesale and retail: prepackaged food (grain and oil) bulk food (grain and oil) feed and feed additives; Port
operations loading and unloading of steel and general cargo at ports; Road freight transportation; Water transportation water
transportation services; Grain and oil storage; Internet Information Services; Technical services for grain oil and feed quality
inspection; hotel management; Industrial investment; Market operation management; Supply chain management services;
International freight forwarding domestic freight forwarding; Customs declaration agency and inspection agency; Property
management and leasing; Import and export of goods and technology. Projects that require approval according to law can only be
operated with the approval of relevant departments. Its registered capital is 2980000.00 yuan. As of the end of current period
total assets reached 2698286947.68 yuan and net assets amounted to 443825261.03 yuan and shareholders’ equity attributable
to parent company was 443825261.03 yuan; in the reporting period the operation revenue net profit and net profit attributable to
shareholder of parent company were 478490737.32-yuan 23345351.32 yuan and 23345351.32 yuan respectively.IX. Structured vehicle controlled by the Company
□ Applicable□ Not applicable
X. Risks faced by the company and corresponding measures
1. Risks of price fluctuations in the purchase and sale of grain and oil
The Russia-Ukraine conflict the Middle East war extreme weather and other uncertain external factors have led to
significant fluctuations in the purchase and sale prices of grain and oil at home and abroad and showed a large structural
difference. The aforementioned risks may affect the company's profit level and may also lead to fluctuations in the value of
inventory.The company will proactively respond to the risk of fluctuations in grain and oil prices by strengthening market forecasting
establishing strategic cooperation refining purchase and sales management enhancing internal coordination and optimizing
product structure in a targeted manner.
2. Food safety risks
“Quality safety” is the lifeline for the sustainable development of enterprises and food safety is an inviolable red line.Regulatory authorities have promulgated a series of regulations and systems from top to bottom targeting food safety hazards
corporate responsibilities production management compliance quality safety inspections and risk monitoring and control aiming to
implement the requirements of “the four strictest supervision of food safety”. In accordance with regulatory requirements and the
company's actual management conditions the company has issued the Measures for the Management of Food Quality and Safety of
SZCH and strictly implemented it. As the superior system for the company's food safety management this system covers the quality
management of grain and oil products as well as non-grain and oil food products fully clarifies the job responsibilities for key
positions strengthens supervision over key links and ensures that food products comply with quality standards hygiene standards
and relevant regulatory requirements.
3. Risk of intensified market competition
As a representative enterprise of regional grain oil and food business compared with central enterprises and large multinational
grain oil and food enterprises the company still has a certain gap in scale and brand awareness. In the future the competition in the
grain oil and food industry will become more intense if the company cannot effectively promote its own brand and broaden its
marketing channels it may face greater risks when market competition intensifies.In response to possible market and business risks on the one hand the company makes overall plans for annual procurement
carefully optimizes procurement channels and ensures sufficient grain supply and orderly supply. On the other hand the company
continues to strengthen communication with upstream and downstream customers in the industry chain vigorously expands sales
channels focuses on customer needs deepens brand and service and enhances the company's brand value and competitiveness. The
18深圳市深粮控股股份有限公司2025年半年度报告全文
third is to promote brand building strengthen brand communication and cooperation within the industry explore high-quality brand
element resources create unified brand application standards and gradually establish brand advantages.XI. The formulation and implementation of the market capitalization management system
and valuation enhancement plan
Whether the company formulated a market capitalization management system or not
□Yes□No
Whether the company disclosed the valuation enhancement plan or not
□Yes□No
XII. Implementation of the Action Plan for “Double Improvement of Quality and Return”
Whether the company disclosed the Action Plan for “Double Improvement of Quality and Return” or not
□Yes□No
19深圳市深粮控股股份有限公司2025年半年度报告全文
Section IV Corporate Governance Environmental and Social
Responsibilities
I. Changes in directors supervisors and senior executives
□Applicable □ Not applicable
There are no changes in directors supervisors and senior executives. Refer to 2024 annual report for details.II. Profit distribution plan and capitalizing of common reserves plan for the Period
□Applicable □Not applicable
The Company has no plan of cash dividend distributed no cash bonus and capitalizing of common reserves either carried out.III. Implementation of the Company’s stock incentive plan employee stock ownership plan
or other employee incentives
□Applicable □Not applicable
The company didn’t implement stock incentive plan employee stock ownership plan or other employee incentives.IV. Environment information disclosure
Are the listed company and its major subsidiaries included in the list of enterprises required to disclose environment information in
accordance with laws
□ Yes □ No
Number of enterprises included in the list of enterprises required to disclose
environmental information in accordance with laws
Query index for the report on
SN Enterprise name environmental information disclosure in
accordance with laws
Department of Ecology and Environment
of Guangdong Province - Enterprise
Dongguan International Food Industrial Environmental Information Disclosure
1
Park Development Co. Ltd. System in Accordance with the Law
https://gdee.gd.gov.cn/gdeepub/front/dal/
report/list
V. Social responsibility
In consolidating and expanding the achievements of poverty alleviation and ensuring effective alignment with rural
revitalization the company made solid progress: first dispatched two aid cadres to the Chaonan District of Shantou and to the
Chaozhou Command of the Shenzhen counterpart assistance program continuing active participation in local rural revitalization
efforts; second actively carried out urban and rural greening initiatives through themed Party Day events and volunteer services
conducting five greening activities in the first half of the year and donating earmarked funds to the Shenshan Special Cooperation
Zone to support rural greening efforts; third promoted consumption-based assistance by mobilizing grassroots trade unions to
actively procure products from poverty alleviation initiatives thereby fostering industrial development in formerly impoverished
areas.
20深圳市深粮控股股份有限公司2025年半年度报告全文
Section V. Important Events
I. Commitments completed in Period and those completed till the end of the Period from
actual controller shareholders related parties purchaser and companies
□Applicable ? Not applicable
There are no commitments which are not completed in Period and those completed till the end of the Period from actual controller
shareholders related parties purchaser and companies.II. Non-operational fund occupation by controlling shareholders and their related parties
□ Applicable□ Not applicable
No non-operational fund occupation by controlling shareholders and their related parties in period.III. External guarantee out of regulations
□ Applicable □ Not applicable
No external guarantee out of the regulations occurred in the period.IV. Appointment and dismissal of CPA
Has the semi-annual financial report been audited
□ Yes □ No
The company's semi-annual report has not been audited.V. Explanation from the BOD the board of supervisors and independent directors (if
applicable) for “Qualified Audit Opinion” issued by CPA
□ Applicable□Not applicable
VI. Explanation from the BOD for “Qualified Audit Opinion” of last period
□ Applicable□Not applicable
VII. Bankruptcy reorganization
□ Applicable□Not applicable
No bankruptcy reorganization for the Company in reporting period
VIII. Lawsuits
Material litigation and arbitration matters
□ Applicable ? Not Applicable
During the reporting period the company has no material litigation or arbitration matters.Other litigation matters
□ Applicable ? Not Applicable
Amount
Lawsuits involved Resulting in anaccrual liability Progress Result and
Execution Disclosure Disclosure
(arbitration) (in 10 influence of date index
thousand (Y/N) judgment
21深圳市深粮控股股份有限公司2025年半年度报告全文
yuan)
As of June 30
2025 other The Company
lawsuits that actively makes
did not meet use of the
the disclosure advantageous
standards for resources of
significant internal legal
lawsuits affairs and After
mainly external laws comprehensive
included firm to follow up analysis the
disputes over and deal with the result of the It is
sales contracts 5716.78 N lawsuit-related cases involved actively NA NA
disputes over cases. At in the lawsuits advancing
wharf present the will not have a
construction Company is significant
contracts responding to impact on the
disputes over and dealing with Company
construction the cases
project effectively in
contracts accordance with
disputes over relevant laws
lease contracts and regulations
etc.IX. Penalty and rectification
□ Applicable□Not applicable
No penalty and rectification for the Company in reporting period.X. Integrity of the Company its controlling shareholder and actual controller
□ Applicable□Not applicable
XI. Major related transaction
1. Related transaction with routine operation concerned
□ Applicable□ Not applicable
The company had no related transaction with routine operation concerned at the end of the reporting period.
2. Assets or equity acquisition and sales of assets and equity
□ Applicable□ Not applicable
3. Related transaction of joint external investment
□ Applicable□Not applicable
No related transaction of joint external investment occurred in the period
4. Related credits and liabilities
□ Applicable□ Not applicable
No related credits and liabilities occurred in period
5. Contact with the related finance companies
□ Applicable□Not applicable
There are no deposits loans credits or other financial businesses between the finance companies with associated relationship and
related parties
22深圳市深粮控股股份有限公司2025年半年度报告全文
6. Transactions between the finance company controlled by the Company and related parties
□ Applicable □ Not applicable
There are no deposits loans credits or other financial business between the finance companies controlled by the Company and
related parties
7. Other major related transaction
□ Applicable□Not applicable
No other major related transaction in the Period.XII. Significant contract and implementation
1. Trusteeship contract and leasing
1) Trusteeship
□ Applicable□Not applicable
No trusteeship for the Company in reporting period
2) Contract
□ Applicable□Not applicable
No contract for the Company in reporting period
3) Leasing
□ Applicable□Not applicable
No leasing in the Period
2. Major guarantee
□Applicable ? Not applicable
There is no major guarantee in reporting period.
3. Entrusted financing
□ Applicable ?Not applicable
There is no entrusted financing in reporting period.
4. Other material contracts
□ Applicable□ Not applicable
No other material contracts in the period.XIII. Explanation on other significant events
□Applicable ? Not applicable
There are no other significant events to be enplaned.XIV. Significant event of subsidiaries of the Company
?Applicable □Not applicable
1. On March 25 2025 the Company convened the 13th meeting of the 11th session of the Board of Directors deliberated and
approved the Proposal on Deliberating the Project of Independent Legal Entity Operation for Reserved Grain and Oil
23深圳市深粮控股股份有限公司2025年半年度报告全文
Management Business and agreed to the company's project of independent legal entity operation for reserved grain and oil
management business. For details please refer to the Announcement on the Resolution of the 13th Meeting of the 11th session
of the Board of Directors of the Company published on Securities Times China Securities Journal Shanghai Securities News
and CNINFO Website (www.cninfo.com.cn) on March 26 2025.
2. On April 28 2025 the Company convened the 14th Meeting of the 11th session of the Board of Directors deliberated and
approved the Proposal on the Investment Decision of Steel Structure Workshop No. 2 for the Food Processing Project of
Dongguan Shenliang Logistics Co. Ltd. and agreed to the matter of the investment decision of steel structure workshop No. 2
for the food processing project of Dongguan Shenliang Logistics Co. Ltd. For details please refer to the Announcement on the
Resolution of the 14th Meeting of the 11th session of the Board of Directors of the Company published on Securities Times
China Securities Journal Shanghai Securities News and CNINFO Website (www.cninfo.com.cn) on April 29 2025.
3. On June 17 2025 the Company convened the 16th Meeting of the 11th session of the Board of Directors deliberated and
approved the Proposal on the Investment Decision of the New-Quality Productive Forces Technology Upgrade Project for
Beverage Tea of Shenbao Huacheng and agreed that Shenzhen Shenbao Huacheng Technology Co. Ltd. the wholly-owned
subsidiary of the company shall invest in and construct the new-quality productive forces technology upgrade project for
beverage tea with total investment amount not exceeding 18.37 million yuan. For details please refer to the Announcement on
the Resolution of the 16th Meeting of the 11th session of the Board of Directors of the Company published on Securities Times
China Securities Journal Shanghai Securities News and CNINFO Website (www.cninfo.com.cn) on June 18 2025.
24深圳市深粮控股股份有限公司2025年半年度报告全文
Section VI. Changes in Shares and Particulars about
Shareholders
I. Changes in shares
1. Changes in shares
Unit: Share
Before the Change Increase/Decrease in the Change (+/ -) After the Change
New Capitalization
Amount Proportion shares Bonusshares of public Others Subtotal Amount Proportionissued reserve
I. Restricted
shares 684569567 59.40% 0 0 0 0 0 684569567 59.40%
1. State-
owned shares 0 0.00% 0 0 0 0 0 0 0.00%
2. State-
owned
corporate 684569567 59.40% 0 0 0 0 0 684569567 59.40%
shares
3. Other
domestic 0 0.00% 0 0 0 0 0 0 0.00%
shares
Including:
Domestic
legal person’s 0 0.00% 0 0 0 0 0 0 0.00%
shares
Domestic
nature
person’s 0 0.00% 0 0 0 0 0 0 0.00%
shares
4. Foreign
shares 0 0.00% 0 0 0 0 0 0 0.00%
Including:
Foreign
corporate 0 0.00% 0 0 0 0 0 0 0.00%
shares
Overseas
nature 0 0.00% 0 0 0 0 0 0 0.00%
person’s share
II.Unrestricted 467965687 40.60% 0 0 0 0 0 467965687 40.60%
shares
1. RMB
common 416216407 36.11% 0 0 0 0 0 416216407 36.11%
shares
2. Domestic
listed foreign 51749280 4.49% 0 0 0 0 0 51749280 4.49%
shares
3. Foreign
listed foreign 0 0.00% 0 0 0 0 0 0 0.00%
shares
4. Other 0 0.00% 0 0 0 0 0 0 0.00%
III. Total
shares 1152535254 100.00% 0 0 0 0 0 1152535254 100.00%
Reasons for changes in share
25深圳市深粮控股股份有限公司2025年半年度报告全文
□ Applicable□ Not applicable
Approval of changes in share
□ Applicable□ Not applicable
Ownership transfer of changes in share
□ Applicable□ Not applicable
Implementation progress of share repurchase
□ Applicable□ Not applicable
Implementation progress of reducing repurchased shares by concentrated auction method
□ Applicable□ Not applicable
Influence of changes in share on basic EPS diluted EPS as well as other financial indexes of net assets per share attributable to
common shareholders of the Company in latest year and period
□ Applicable□ Not applicable
Other information necessary to be disclosed in the viewpoint of the Company or that required to be disclosed by securities regulators
□ Applicable□ Not applicable
2. Changes in restricted shares
□ Applicable□Not applicable
II. Securities issuance and listing
□ Applicable□Not applicable
III. Number of shareholders and particulars about shares holding
Unit: Share
Total common Total preferred shareholders with voting rights recovered
stock at end of last month before annual report disclosed (if
shareholders at 44215 applicable) (refer to Note 8)the end of 0
reporting
period
Shareholding of shareholders holding more than 5% shares of the company or top ten shareholders
(Excluding shares lent through refinancing)
Total shares Information of shares
Name of Nature of Proportion held at the Changes in Quantity of Quantity of pledged tagged or
Shareholders shareholder of shares end of reporting restricted unrestricted frozenheld reporting period shares held shares held State of
period share Quantity
Shenzhen State-
Agricultural owned
Power Group legal 63.79% 735237253 0 669184735 66052518 NA 0
Co. Ltd. person
Shenzhen State-
Agricultural owned
Products legal 8.23% 94832294 0 15384832 79447462 NA 0
Group Co. Ltd person
Dongguan Domestic
Fruit non-state- 0.75% 8698216 0 0 8698216 NA 0
26深圳市深粮控股股份有限公司2025年半年度报告全文
Vegetable and owned
Non- staple legal
Food Trading person
Market Co.Ltd
Hong Kong Foreign
Securities legal
Clearing person 0.41% 4685100 -807745 0 5492845 NA 0
Company
Chen Jiuyang Domestic
nature 0.32% 3730070 433000 0 3297070 NA 0
person
Zhong Zhenxin Domestic
nature 0.29% 3295500 0 0 3295500 NA 0
person
Sun Huiming Domestic
nature 0.28% 3236352 0 0 3236352 NA 0
person
CMB -
Southern CSI
1000 Trading
Open-End
Index Other 0.26% 3028300 301600 0 2726700 NA 0
Securities
Investment
Fund
China
Minsheng
Banking
Corporation
Limited -
Jinyuan
Shunan Yuanqi Other 0.17% 2000000 1805100 0 194900 NA 0
Flexible
Allocation
Hybrid
Securities
Investment
Fund
CMB – Huaxia
CSI 1000
Exchange-
Traded Open-
End Index Other 0.16% 1801010 334890 0 1466120 NA 0
Securities
Investment
Fund
Strategy investors or general
legal person becoming top 10
common shareholders due to Nil
rights issue (if applicable)
(see note 3)
Explanation on associated Shenzhen SASAC directly holds 100% equity of Shenzhen Agricultural Power Group Co. Ltd. and
relationship among the holds 34% equity of Shenzhen Agricultural Products Group Co. Ltd. indirectly through Shenzhen
aforesaid shareholders Agricultural Power Group Co. Ltd.; The Company was not aware of any related relationship
between other shareholders above and whether they are parties acting in concert as defined by the
Acquisition Management Method of Listed Company.Description of the above
shareholders involved with
delegating/entrusted voting Nil
rights and abstention from
voting rights.Special note on the
repurchase account among
the top 10 shareholders (if Nil
applicable) (see Note 11)
27深圳市深粮控股股份有限公司2025年半年度报告全文
Particular about top ten shareholders holding unrestricted shares (Excluding shares lent through refinancing locked-up shares for
senior executives)
Shareholders’ name Quantity of unrestricted shares
Type of shares
held at period-end Type Quantity
Shenzhen Agricultural Products Group Co. 79447462 RMB common shares 79447462
Ltd
Shenzhen Agricultural Power Group Co. 66052518 RMB common shares 66052518
Ltd.Dongguan Fruit Vegetable and Non- staple 8698216 RMB common shares 8698216
Food Trading Market Co. Ltd
Hong Kong Securities Clearing Company 4685100 RMB common shares 4685100
Chen Jiuyang 3730070 RMB common shares 3730070
Zhong Zhenxin 3295500 RMB common shares 3295500
Sun Huiming 3236352 Domestically listed 3236352
foreign shares
CMB - Southern CSI 1000 Trading Open- 3028300 RMB common shares 3028300
End Index Securities Investment Fund
China Minsheng Banking Corporation 2000000 RMB common shares 2000000
Limited - Jinyuan Shunan Yuanqi Flexible
Allocation Hybrid Securities Investment
Fund
CMB - Huaxia CSI 1000 Exchange-Traded 1801010 RMB common shares 1801010
Open-End Index Securities Investment Fund
Explanation of the association
or concerted action between
the top 10 shareholders of Shenzhen SASAC directly holds 100% equity of Shenzhen Agricultural Power Group Co. Ltd. and
non-restricted and tradable holds 34% equity of Shenzhen Agricultural Products Group Co. Ltd. indirectly through Shenzhen
shares as well as between the Agricultural Power Group Co. Ltd.; The Company was not aware of any related relationship
top 10 shareholders of non- between other shareholders above and whether they are parties acting in concert as defined by the
restricted and tradable shares Acquisition Management Method of Listed Company.and the top 10 shareholders
Explanation on the
participation of the top 10
ordinary shareholders in
margin trading and securities Nil
lending business (if any) (see
Note 4)
Shareholders with over 5% of shares top ten shareholders and top ten shareholders of un-restrict shares participate in the lending
of shares through refinancing
□ Applicable□Not applicable
The top 10 shareholders and the top 10 shareholders of un-restricted tradable shares have changed compared to the previous period
due to the reasons of lending/returning of shares through refinancing
□Applicable □Not applicable
Whether top ten common stock shareholders or top ten common stock shareholders of un-restrict shares have buy-back agreement
dealing in reporting period or not
□ Yes □ No
The top ten common stock shareholders or top ten common stock shareholders of un-restrict shares didn’t have buy-back
agreement dealing in reporting period.IV. Changes in shareholdings of directors supervisors and senior management
□ Applicable ? Not Applicable
During the reporting period there were no changes in the shareholdings of the company's directors supervisors and senior
management. For details please refer to 2024 annual report.
28深圳市深粮控股股份有限公司2025年半年度报告全文
V. Changes in controlling shareholders or actual controllers
Changes in controlling shareholders during the reporting period
□ Applicable ? Not Applicable
There were no changes in the company's controlling shareholders during the reporting period.Changes in actual controllers during the reporting period
□ Applicable ? Not Applicable
There were no changes in the company's actual controllers during the reporting period.VI. Matters related to preferred shares
□ Applicable ? Not Applicable
The company had no preferred shares during the reporting period.
29深圳市深粮控股股份有限公司2025年半年度报告全文
Section VII. Corporate Bonds
□ Applicable□Not applicable
30深圳市深粮控股股份有限公司2025年半年度报告全文
Section VIII. Financial Report
I.Audit Report
Whether the semi-annual report is audited or not
□Yes □No
The company's semi-annual financial report has not been audited.II. Financial statements
Statement in Financial Notes are carried in RMB/CNY.
1. Consolidated balance sheet
Prepared by SHENZHEN CEREALS HOLDINGS CO. LTD
June 30 2025
In RMB
Item Ending balance Beginning balance
Current assets:
Monetary funds 179802996.52 168199291.23
Settlement provisions
Capital lent
Tradable financial assets
Derivative financial assets
Note receivable 4572126.00 2327160.00
Account receivable 255093404.70 235789565.91
Receivable financing
Accounts paid in advance 10907702.40 9776028.70
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Other accounts receivable 27834070.02 19978436.61
Including: Interest receivable
Dividends receivable
Buying back the sale of financial
assets
Inventories 3498965021.50 4044998642.52
Including: data source
Contract assets
Assets held for sale
Non-current asset due within one
year
Other current assets 72762114.90 113243285.26
Total current assets 4049937436.04 4594312410.23
Non-current assets:
Loans and payments on behalf
Creditors' investment
Other creditors' investment
Long-term account receivable
Long-term equity investment 40894166.52 45356888.44
Investment in other equity
instrument
Other non-current financial assets 57500.00 57500.00
31深圳市深粮控股股份有限公司2025年半年度报告全文
Investment real estate 293982667.10 302075246.75
Fixed assets 1996211372.88 2009520283.95
Construction in progress 48429826.06 39312847.70
Productive biological asset 344078.40 348924.60
Oil and gas asset
Right-of-use assets 94247032.57 115258040.17
Intangible assets 448191318.36 523370792.77
Including: data resources
R&D cost
Including: data resources
Goodwill
Long-term expenses to be
apportioned 22320721.48 26013188.68
Deferred income tax asset 54880135.65 52903106.75
Other non-current asset 9141157.79 6021277.97
Total non-current asset 3008699976.81 3120238097.78
Total assets 7058637412.85 7714550508.01
Current liabilities:
Short-term loans 1086982672.65 1484605101.05
Loan from central bank
Capital borrowed
Tradable financial liability
Derivative financial liability
Note payable
Account payable 265576091.67 392787099.23
Accounts received in advance 1647717.09 1689748.86
Contract liability 94627461.61 126590458.95
Selling financial asset of repurchase
Absorbing deposit and interbank deposit
Security trading of agency
Security sales of agency
Wage payable 147949411.70 181550514.63
Taxes payable 61818850.03 102239439.35
Other account payable 269124016.57 268321327.50
Including: Interest payable
Dividend payable 2933690.04 2933690.04
Handle fee and commission payable
Reinsurance payable
Liability held for sale 0.00 0.00
Non-current liabilities due within
one year 40979285.84 42927367.21
Other current liabilities 4508204.90 8042645.47
Total current liabilities 1973213712.06 2608753702.25
Non-current liabilities:
Insurance contract reserve
Long-term loans
Bonds payable
Including: Preferred stock
Perpetual capital securities
Lease liability 57943870.37 78084500.76
Long-term account payable 16695689.73 16636326.62
Long-term wages payable
Accrual liability
Deferred income 76133884.37 79203615.99
Deferred income tax liabilities 10312520.01 10495166.46
Other non-current liabilities
Total non-current liabilities 161085964.48 184419609.83
32深圳市深粮控股股份有限公司2025年半年度报告全文
Total liabilities 2134299676.54 2793173312.08
Owner’s equity:
Share capital 1152535254.00 1152535254.00
Other equity instrument
Including: Preferred stock
Perpetual capital
securities
Capital public reserve 1271908217.34 1271908217.34
Less: Inventory shares
Other comprehensive income -685870.77 -620406.95
Reasonable reserve 1080638.78 1152617.76
Surplus public reserve 616729697.68 616729697.68
Provision of general risk
Retained profit 1881104000.76 1877968762.99
Total owner’ s equity attributable to
parent company 4922671937.79 4919674142.82
Minority interests 1665798.52 1703053.11
Total owner’ s equity 4924337736.31 4921377195.93
Total liabilities and owner’ s equity 7058637412.85 7714550508.01
Legal representative: Wang Zhikai
Person in charge of accounting works: Lu Yuhe
Person in charge of accounting institute: Lu Chengjun
2. Balance sheet of parent company
In RMB
Item Ending balance Beginning balance
Current assets:
Monetary funds 105576052.34 103158696.39
Tradable financial assets 0.00 0.00
Derivative financial assets
Note receivable
Account receivable 119683214.04 116938612.94
Receivable financing
Accounts paid in advance 0.00 134194.35
Other accounts receivable 1952967875.15 2123872937.65
Including: interest receivable
Dividends receivable
Inventories
Including: data resources
Contract assets
Assets held for sale 0.00 0.00
Non-current assets maturing within
one year
Other current assets 403829.83 110478.30
Total current assets 2178630971.36 2344214919.63
Non-current assets:
Creditors' investment
Other creditors' investment
Long-term receivables
Long-term equity investments 4031188641.37 4031188641.37
Investment in other equity
instrument
Other non-current financial assets
Investment real estate 14864347.78 15100142.92
Fixed assets 30240252.94 30997299.26
Construction in progress
33深圳市深粮控股股份有限公司2025年半年度报告全文
Productive biological assets 344078.40 348924.60
Oil and natural gas assets
Right-of-use assets 55701393.85 67225820.17
Intangible assets 18930356.93 21988398.89
Including: data resources
R&D cost
Including: data resources
Goodwill
Long-term deferred expenses 2807781.24 3403734.80
Deferred income tax assets 10362734.95 10774610.43
Other non-current assets 2449577.55 2497360.73
Total non-current assets 4166889165.01 4183524933.17
Total assets 6345520136.37 6527739852.80
Current liabilities:
Short-term borrowings 219439809.30 272901652.46
Tradable financial liability
Derivative financial liability
Notes payable
Account payable
Accounts received in advance
Contract liability
Wage payable 39238257.09 49395879.48
Taxes payable 4435466.03 3570294.15
Other accounts payable 258400785.82 228671937.92
Including: interest payable
Dividend payable 2933690.04 2933690.04
Liability held for sale
Non-current liabilities due within
one year 22589619.63 22332687.31
Other current liabilities
Total current liabilities 544103937.87 576872451.32
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital
securities
Lease liability 34516964.69 46945825.26
Long-term account payable
Long term employee compensation
payable
Accrued liabilities
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 34516964.69 46945825.26
Total liabilities 578620902.56 623818276.58
Owners’ equity:
Share capital 1152535254.00 1152535254.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 3018298284.55 3018298284.55
Less: Inventory shares
Other comprehensive income
Special reserve
34深圳市深粮控股股份有限公司2025年半年度报告全文
Surplus reserve 344325269.54 344325269.54
Retained profit 1251740425.72 1388762768.13
Total owner’s equity 5766899233.81 5903921576.22
Total liabilities and owner’s equity 6345520136.37 6527739852.80
3. Consolidated profit statement
In RMB
Item 2025 semi-annual 2024 semi-annual
I. Total operating income 2384227437.90 2416452919.61
Including: Operating income 2384227437.90 2416452919.61
Interest income
Insurance gained
handle fee and commission
income
II. Total operating cost 2143192880.83 2188883707.28
Including: Operating cost 1942145136.11 1985425763.32
Interest expense
Handle fee and commission
expense
Cash surrender value
Net amount of expense of
compensation
Net amount of withdrawal of
insurance contract reserve
Bonus expense of guarantee
slip
Reinsurance expense
Taxes and surcharge 9148068.86 8669435.06
Sales expense 60709520.71 73460826.96
Administrative expense 101939577.47 94744449.01
R&D expense 10208632.21 9813271.21
Financial expense 19041945.47 16769961.72
Including: Interest
expenses 19155569.88 17092705.52
Interest income 406929.22 952349.13
Add: Other income 4186124.46 8396165.78
Investment income (Loss is
listed with “-”) -4462721.92 3368123.85
Including: Investment income
on associated enterprise and joint venture -2195664.82
The termination of income
recognition for financial assets measured
by amortized cost
Exchange income (Loss is listed
with “-”)
Net exposure hedging income
(Loss is listed with “-”)
Income from change of fair
value (Loss is listed with “-”)
Loss of credit impairment (Loss
is listed with “-”) 1263924.37 -69733.49
Losses of devaluation of asset
(Loss is listed with “-”) -42521010.08 -79774391.84
Income from assets disposal
(Loss is listed with “-”) 19967516.74 5219432.33III. Operating profit (Loss is listed with “-”)219468390.64164708808.96
Add: Non-operating income 146701.53 72146.65
Less: Non-operating expense 299515.73 230544.48
IV. Total profit (Loss is listed with “-”) 219315576.44 164550411.13
Less: Income tax expense 43337305.16 34216568.64
35深圳市深粮控股股份有限公司2025年半年度报告全文
V. Net profit (Net loss is listed with “-”) 175978271.28 130333842.49
(i) Classify by business continuity
1.Continuous operating net profit(net loss is listed with ‘-”) 175978271.28 130333842.49
2.Termination of net profit (net lossis listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to owners of
parent company 176015525.87 129001273.54
2.Minority shareholders’ gains/losses -37254.59 1332568.95
VI. Net after-tax of other comprehensive
income -65463.82 28559.40
Net after-tax of other comprehensive
income attributable to owners of parent -65463.82 28559.40
company
(I) Other comprehensive income
items which will not be reclassified
subsequently to gains/losses
1.Changes of the defined benefit
plans re-measured
2.Other comprehensive income
under equity method that cannot be
transferred to gains/losses
3.Change of fair value of
investment in other equity instrument
4.Fair value change of enterprise's
credit risk
5. Other
(ii) Other comprehensive income
items which will be reclassified -65463.82 28559.40
subsequently to gains/losses
1.Other comprehensive income
under equity method that can be
transferred to gains/losses
2.Change of fair value of other
creditors' investment
3.Amount of financial assets re-
classified to other comprehensive income
4.Credit impairment provision for
other creditors' investment
5.Cash flow hedging reserve
6.Translation differences arising
on translation of foreign currency -65463.82 28559.40
financial statements
7.Other
Net after-tax of other comprehensive
income attributable to minority
shareholders
VII. Total comprehensive income 175912807.46 130362401.89
Total comprehensive income
attributable to owners of parent company 175950062.05 129029832.94
Total comprehensive income
attributable to minority shareholders -37254.59 1332568.95
VIII. Earnings per share:
(i) Basic earnings per share 0.1527 0.1120
(ii) Diluted earnings per share 0.1527 0.1120
36深圳市深粮控股股份有限公司2025年半年度报告全文
As for the enterprise combined under the same control the net profit achieved by the merged party before combination is zero
yuan and the net profit achieved by the merged party in last period is zero yuan.Legal representative: Wang Zhikai
Person in charge of accounting works: Lu Yuhe
Person in charge of accounting institute: Lu Chengjun
4. Profit statement of parent company
In RMB
Item 2025 semi-annual 2024 semi-annual
I. Operating income 75084378.42 81710414.30
Less: Operating cost 12697586.52 235795.14
Taxes and surcharge 258865.15 279398.08
Sales expenses
Administration expenses 44402122.93 36208920.45
R&D expenses
Financial expenses -17542982.07 -19356764.73
Including: Interest
expenses 6270059.61 1953504.26
Interest income 23865184.21 21577083.48
Add: Other income 103605.12 154328.97
Investment income (Loss is
listed with “-”) 14677769.24
Including: Investment income
on associated enterprise and joint venture
The termination of income
recognition for financial assets measured
by amortized cost (Loss is listed with “-”)
Net exposure hedging income
(Loss is listed with “-”)
Changing income of fair value
(Loss is listed with “-”)
Loss of credit impairment (Loss
is listed with “-”) 1000000.00 435.73
Losses of devaluation of asset
(Loss is listed with “-”)
Income on disposal of assets
(Loss is listed with “-”)II. Operating profit (Loss is listed with “-”)36372391.0179175599.30
Add: Non-operating income
Less: Non-operating expense 102569.84 16034.73
III. Total Profit (Loss is listed with “-”) 36269821.17 79159564.57
Less: Income tax 411875.48
IV. Net profit (Net loss is listed with “-”) 35857945.69 79159564.57
(i) Continuous operating net profit(net loss is listed with ‘-”) 35857945.69 79159564.57
(ii) Termination of net profit (netloss is listed with ‘-”)
V. Net after-tax of other comprehensive
income
(i) Other comprehensive income
items which will not be reclassified
subsequently to gains/losses
1.Changes of the defined
benefit plans re-measured
2.Other comprehensive
income under equity method that cannot
be transferred to gains/losses
3.Change of fair value of
investment in other equity instrument
37深圳市深粮控股股份有限公司2025年半年度报告全文
4.Fair value change of
enterprise's credit risk
5. Other
(ii) Other comprehensive income
items which will be reclassified
subsequently to gains/losses
1.Other comprehensive
income under equity method that can be
transferred to gains/losses
2.Change of fair value of
other creditors' investment
3.Amount of financial assets
re-classified to other comprehensive
income
4.Credit impairment
provision for other creditors' investment
5.Cash flow hedging reserve
6.Translation differences
arising on translation of foreign currency
financial statements
7.Other
VI. Total comprehensive income 35857945.69 79159564.57
VII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
5. Consolidated cash flow statement
Item 2025 semi-annual 2024 semi-annual
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor services 2515459297.68 2416339686.68
Net increase of customer deposit and interbank deposit
Net increase of loan from central bank
Net increase of capital borrowed from other financial institution
Cash received from original insurance contract fee
Net cash received from reinsurance business
Net increase of insured savings and investment
Cash received from interest handle fee and commission
Net increase of capital borrowed
Net increase of returned business capital
Net cash received by agents in sale and purchase of securities
Write-back of tax received 2001200.56 1931425.08
Other cash received concerning operating activities 173603846.00 1288201410.88
Subtotal of cash inflow arising from operating activities 2691064344.24 3706472522.64
Cash paid for purchasing commodities and receiving labor service 1443488394.47 2473823154.14
Net increase of customer loans and advances
Net increase of deposits in central bank and interbank
Cash paid for original insurance contract compensation
Net increase of capital lent
Cash paid for interest handle fee and commission
Cash paid for bonus of guarantee slip
Cash paid to/for staff and workers 171799129.01 182640622.80
Taxes paid 107439103.32 91905629.19
Other cash paid concerning operating activities 231059150.63 1116652501.52
Subtotal of cash outflow arising from operating activities 1953785777.43 3865021907.65
Net cash flows arising from operating activities 737278566.81 -158549385.01
II. Cash flows arising from investing activities:
Cash received from recovering investment 315621806.51
Cash received from investment income 5305517.33
Net cash received from disposal of fixed intangible and other long-term assets 77797545.09 17286128.50
38深圳市深粮控股股份有限公司2025年半年度报告全文
Net cash received from disposal of subsidiaries and other units 1718711.71 13241942.62
Other cash received concerning investing activities
Subtotal of cash inflow from investing activities 79516256.80 351455394.96
Cash paid for purchasing fixed intangible and other long-term assets 31884430.85 59176182.44
Cash paid for investment 285000000.00
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 activities 31884430.85 344176182.44
Net cash flows arising from investing activities 47631825.95 7279212.52
III. Cash flows arising from financing activities:
Cash received from absorbing investment
Including: Cash received from absorbing minority shareholders’ investment by
subsidiaries
Cash received from loans 1077015327.03 2045107250.15
Other cash received concerning financing activities
Subtotal of cash inflow from financing activities 1077015327.03 2045107250.15
Cash paid for settling debts 1653752375.98 1794353974.79
Cash paid for dividend and profit distributing or interest paying 188876399.22 245803739.44
Including: Dividend and profit of minority shareholder paid by subsidiaries
Other cash paid concerning financing activities 5323196.47 12238276.69
Subtotal of cash outflow from financing activities 1847951971.67 2052395990.92
Net cash flows arising from financing activities -770936644.64 -7288740.77
IV. Influence on cash and cash equivalents due to fluctuation in exchange rate -59820.30 48084.86
V. Net increase of cash and cash equivalents 13913927.82 -158510828.40
Add: Balance of cash and cash equivalents at the period -begin 158935342.85 236745667.10
VI. Balance of cash and cash equivalents at the period-end 172849270.67 78234838.70
6. Cash flow statement of parent company
In RMB
Item 2025 semi-annual 2024 semi-annual
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor services 390394107.50 326750573.00
Write-back of tax received
Other cash received concerning
operating activities 1994466762.23 2046639594.59
Subtotal of cash inflow arising from
operating activities 2384860869.73 2373390167.59
Cash paid for purchasing
commodities and receiving labor service 15028437.90
Cash paid to/for staff and workers 39687095.15 26547520.98
Taxes paid 90525.02 416585.00
Other cash paid concerning operating
activities 1913761049.85 2634761716.00
Subtotal of cash outflow arising from
operating activities 1968567107.92 2661725821.98
Net cash flows arising from operating
activities 416293761.81 -288335654.39
II. Cash flows arising from investing
activities:
Cash received from recovering
investment 265621806.51
Cash received from investment
income 13838029.70
Net cash received from disposal of
fixed intangible and other long-term
assets
Net cash received from disposal of 16360810.20
39深圳市深粮控股股份有限公司2025年半年度报告全文
subsidiaries and other units
Other cash received concerning
investing activities
Subtotal of cash inflow from investing
activities 295820646.41
Cash paid for purchasing fixed
intangible and other long-term assets 2557504.30 2600123.18
Cash paid for investment 235000000.00
Net cash received from subsidiaries
and other units obtained
Other cash paid concerning investing
activities
Subtotal of cash outflow from investing
activities 2557504.30 237600123.18
Net cash flows arising from investing
activities -2557504.30 58220523.23
III. Cash flows arising from financing
activities:
Cash received from absorbing
investment
Cash received from loans 468751150.53 1029128411.85
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
activities 468751150.53 1029128411.85
Cash paid for settling debts 701282632.75 711351213.44
Cash paid for dividend and profit
distributing or interest paying 178784966.14 232463872.40
Other cash paid concerning financing
activities
Subtotal of cash outflow from financing
activities 880067598.89 943815085.84
Net cash flows arising from financing
activities -411316448.36 85313326.01
IV. Influence on cash and cash
equivalents due to fluctuation in exchange -2453.20 1188.15
rate
V. Net increase of cash and cash
equivalents 2417355.95 -144800617.00
Add: Beginning balance of cash and
cash equivalents 103158696.39 149617836.08
VI. Ending balance of cash and cash
equivalents 105576052.34 4817219.08
40深圳市深粮控股股份有限公司2025年半年度报告全文
7. Consolidated statement of changes in owners’ equity
Current period
In RMB
2025 semi-annual
Owners’ equity attributable to the parent Company
Other
Item equity instrument Minorit Total
Share Perpetu
Less: Other Provisi y
Preferr al Capital Invento compre
Reason Surplus on of Retaine Subtota interest owners’
capital ed capital Other reserve ry hensive
able reserve general d profit Other l s equity
shares income reservestock securiti risk
es
I. Balance at the end 11525 12719 -35254. 08217. 0.00 62040 11526
61672187794919649213
of the last year 17.76 9697.6 0.00 68762. 0.00 74142.
1703077195.
00346.958998253.1193
Add: Changes of
accounting policy
Error correction of
the last period
Other
II. Balance at the 11525 12719 - 61672 18779 49196 49213
beginning of this year 35254. 08217. 0.00 62040
115269697.60.0068762.0.0074142.1703077195.
00346.9517.768998253.1193
III. Increase/
Decrease in reporting - - 31352 29977 - 29605
period (Decrease is 65463. 71978.82 98 37.77 94.97
37254.
59 40.38listed with “-”)
(i) Total - 17601 17595 - 17591
comprehensive 65463. 5525.8 0062.0 37254. 2807.4
income 82 7 5 59 6
(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 17288 17288 17288
distribution 0288.1 0288.1 0288.1
000
1. Withdrawal of
surplus reserves
2. Withdrawal of
general risk
provisions
3. Distribution for - - -
owners (or 17288 17288 17288
shareholders) 0288.1 0288.1 0288.10 0 0
4. Other
(IV) Carrying forward
internal owners’
equity
1. Capital reserves
converted to capital
(share capital)
2. Surplus reserves
converted to capital
(share capital)
3. Remedying loss
with surplus reserve
4．Carry-over
retained earnings
from the defined
benefit plans
5．Carry-over
retained earnings
from other
comprehensive
income
6. Other
(V) Reasonable - - -
reserve 71978. 71978. 71978.98 98 98
1. Withdrawal in the
reporting period
2. Usage in the - - -
reporting period 71978. 71978. 71978.98 98 98
(VI)Others
IV. Balance at the end 11525 12719 - 61672 18811 49226 49243
of the reporting 35254. 08217. 68587 1080638.78 9697.6 04000. 71937.
16657
period 00 34 0.77 8 76 79 98.52
37736.
31
41深圳市深粮控股股份有限公司2025年半年度报告全文
Last period
In RMB
2024 semi-annual
Owners’ equity attributable to the parent Company
Other
Item equity instrument Minorit
Perpetu Less: Other
Total
Share Capital Invento compre Reason
Provisi y
Preferr al able Surplus on of Retaine Subtota interest
owners’
capital ed capital Other reserve ry hensive reserve general d profit
Other l s equity
stock securiti shares income
reserve risk
es
I. Balance at the end 11525 12761 - 74196 48310 19167 4828435254. 51523. 0.00 83317 3366.3 92566. 91503. 53209
48817
of the last year 8.19 01058.00 07 4.82 8 57 39 554.68 07
Add: Changes of
accounting policy
Error correction of
the last period
Other
--
II. Balance at the - 28559. 35451 10150 10112
-
beginning of this year 5777.2 2704.4 13325 9979040 3.41 5 4 68.95 135.49
III. Increase/
Decrease in reporting 28559. 12900 12902 13036period (Decrease is 40 1273.5 9832.9
13325
68.95 2401.9listed with “-”) 5 5 0
(i) Total
comprehensive
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 23050 23050 230507050.8 7050.8 7050.8
000
(III) Profit
distribution
1. Withdrawal of
surplus reserves
2. Withdrawal of - - -
general risk 23050 23050 23050
provisions 7050.8 7050.8 7050.80 0 0
3. Distribution for
owners (or
shareholders)
4. Other
(IV) Carrying forward
internal owners’
equity
1. Capital reserves
converted to capital
(share capital)
2. Surplus reserves
converted to capital
(share capital)
3. Remedying loss
with surplus reserve
4．Carry-over
retained earnings
from the defined
benefit plans
5．Carry-over
retained earnings
from other
comprehensive
income
6. Other 35451 35451 35451
3.413.413.41
(V) Reasonable
reserve 83628 83628 836287.66 7.66 7.66
1. Withdrawal in the - - -
reporting period 48177 48177 481774.25 4.25 4.25
2. Usage in the
reporting period
-
(VI)Others 11525 12761 80461 10964 48310 18152 47273 54542 4781935254. 51523. 5.42 81.60 3366.3 86789. 68798.00 07 8 32 95 123.63
10922.
58
IV. Balance at the end - - -
of the reporting - 28559. 35451 10150 10112
period 40 3.41 5777.2 2704.4
1332599790
5468.95135.49
42深圳市深粮控股股份有限公司2025年半年度报告全文
8. Statement of changes in owners’ equity of parent company
Current period
In RMB
2025 semi-annual
Other
Item equity instrument OtherShare Perpetual Capital
Less:
Inventory comprehe Reasonabl Surplus Retained
Total
capital Preferred Other owners’
stock capital Other
reserve shares nsive e reserve reserve profit equity
securities income
I. Balance at the end 1152535 3018298 3443252 1388762 5903921
of the last year 254.00 284.55 69.54 768.13 576.22
Add: Changes of
accounting policy
Error correction of
the last period
Other
II. Balance at the 1152535 3018298 3443252 1388762 5903921
beginning of this year 254.00 284.55 69.54 768.13 576.22
III. Increase/
Decrease in reporting - -
period (Decrease is 1370223 1370223
listed with “-”) 42.41 42.41
(i) Total
comprehensive 3585794 3585794
income 5.69 5.69
(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 1728802 172880288.10 88.10
1. Withdrawal of
surplus reserves
2. Distribution for - -
owners (or 1728802 1728802
shareholders) 88.10 88.10
3. Other
(IV) Carrying forward
internal owners’
equity
1. Capital reserves
converted to capital
(share capital)
2. Surplus reserves
converted to capital
(share capital)
3. Remedying loss
with surplus reserve
4．Carry-over
retained earnings
from the defined
benefit plans
5．Carry-over
retained earnings
from other
comprehensive
income
6. Other
(V) Reasonable
reserve
1. Withdrawal in the
reporting period
2. Usage in the
reporting period
(VI)Others
IV. Balance at the end
of the reporting 1152535 3018298 3443252 1251740 5766899
period 254.00 284.55 69.54 425.72 233.81
Last period
In RMB
2024 semi-annual
Other
Item Share equity instrument Less:
Other
Perpetual Capital Inventory comprehe Reasonabl Surplus Retained
Total
capital Preferred capital Other reserve shares nsive e reserve reserve profit
Other owners’
stock income equitysecurities
I. Balance at the end 1152535 3018106 2106989 4166328 4797973
of the last year 254.00 568.27 38.24 37.22 597.73
Add: Changes of
accounting policy
43深圳市深粮控股股份有限公司2025年半年度报告全文
Error correction of
the last period
Other
II. Balance at the 1152535 3018106 2106989 4166328 4797973
beginning of this year 254.00 568.27 38.24 37.22 597.73
III. Increase/
Decrease in reporting - -
period (Decrease is 1513474 1513474
listed with “-”) 86.23 86.23
(i) Total
comprehensive 7915956 7915956
income 4.57 4.57
(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 2305070 230507050.80 50.80
1. Withdrawal of
surplus reserves
2. Distribution for - -
owners (or 2305070 2305070
shareholders) 50.80 50.80
3. Other
(IV) Carrying forward
internal owners’
equity
1. Capital reserves
converted to capital
(share capital)
2. Surplus reserves
converted to capital
(share capital)
3. Remedying loss
with surplus reserve
4．Carry-over
retained earnings
from the defined
benefit plans
5．Carry-over
retained earnings
from other
comprehensive
income
6. Other
(V) Reasonable
reserve
1. Withdrawal in the
reporting period
2. Usage in the
reporting period
(VI)Others
IV. Balance at the end
of the reporting 1152535 3018106 2106989 2652853 4646626
period 254.00 568.27 38.24 50.99 111.50
44深圳市深粮控股股份有限公司2025年半年度报告全文
III. Basic information of company
Shenzhen Cereals Holdings Co. Ltd. (formerly the Shenzhen Shenbao Industrial Co. Ltd. hereinafter referred to as “SZCH”
“Company” or “the Company” ) formerly named Shenzhen Shenbao Canned Food Company obtained approval (Document (1991)
No.978) from Shenzhen Municipal People’s Government to change to the name as Shenzhen Shenbao Industrial Co. Ltd. on August
1991.Approved by the People’s Bank of China(Document (1991)No.126) the Company was listed on Shenzhen Stock Exchange.
The Company belongs to the grain oil food and beverage industry.The cumulative amount of shares issued by the Company was 1152535254 shares with registered capital of 1152535254.00 yuan.Registered address: Shenzhen Guangdong Province; HQ of the Company: 8/F Tower B No.4 Building Software Industry Base
South District Science & Technology Park Xuefu Rd. Yuehai Street Nanshan District Shenzhen.Main business of the Company: wholesale and retail business food processing and manufacturing business leasing and business
service business. The wholesale and retail business mainly involves the sales of grain and oil products such as rice wheat rice corn
barley sorghum edible oil etc. as well as fine tea beverages and condiments. The food processing and manufacturing business
mainly includes the processing of flour rice edible oil tea and natural plant extracts beverages condiments etc. The leasing and
business service business provides grain oil and food and beverage import and export trade warehousing and storage logistics and
distribution quality testing information technology services property leasing and management commercial operation management
and other services for all kinds of customers upstream and downstream of the industrial chain.The parent enterprise of the Company is Shenzhen Food Materials Group Co. Ltd and the actual controller of the Company is
Shenzhen Municipal People’s Government State-owned Assets Supervision & Administration Commission.IV. Basis of preparation of financial statements
1. Basis of preparation
The financial statement are prepared in line with the Accounting Standards for Business Enterprise -Basic Standard issued by
Ministry of Finance and specific accounting principle as well as the application guidance for the accounting principles for enterprise
interpretation to the accounting principles for enterprise and other related requirements (hereinafter referred to as Accounting
Standards for Business Enterprise) combining the Information Disclosure Preparation Rules for Company Public Issuing Securities
No.15-General Rules for Financial Report of the CSRC(Revised in 2023).These financial statements are presented on a going concern basis.The Company's accounting is based on the accrual basis of accounting. Except for certain financial instruments these financial
statements are measured on a historical cost basis. If an asset is impaired the corresponding impairment provision shall be accrued in
accordance with relevant regulations.
2. Going concern
The financial statement has been prepared on a going concern basis.V. Major accounting policy and accounting estimate
Specific accounting policies and accounting estimate tips:
Our company has determined fixed asset depreciation intangible asset amortization and revenue recognition policies based on its
own production and operation characteristics. Specific accounting policies can be found in Note V.24 Note V. 29 and Note V. 37.
1. Statement for observation of Accounting Standard for Business Enterprise
The financial statements prepared by the Company are in accordance to requirements of Accounting Standard for Business Enterprise
issued by Ministry of Finance which truly and completely reflect the financial status of the Company and parent company on June
30 2025 as well as the consolidated and parent company’s operational results and cash flow for the period from January to June
45深圳市深粮控股股份有限公司2025年半年度报告全文
2025.
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. Operating cycle
Operating cycle of the Company is 12 months
4. Standard currency
The Company and its subsidiaries take RMB as the standard currency for bookkeeping. Overseas subsidiaries select their accounting
base currency based on the currency of the main economic environment in which they operate.
5. Method for determining importance criteria and selection criteria
? Applicable □ Not applicable
Item Importance criteria
Important accounts receivable with single provision for bad debt reserves Amount ≥ 1000000
Other accounts receivable with significant single provision for bad debt reserves Amount ≥ 5000000
6. Accounting treatment methods for business combinations under the same control and those not under
the same control
(1) Merger of enterprises under the same control
For merge of business under the same control the assets and liabilities of the merged party acquired by the merging party in the
merger shall be measured at the carrying amount of the merged party in the final controlling party’s consolidated financial statements
on the merger date. The difference between the book value of the merger consideration (or the total face value of the issued shares)
and the book value of the net assets obtained in the merger shall be adjusted to the capital reserve (share premium). If the capital
reserve (share premium) is insufficient to offset the retained earnings shall be adjusted.Implementing enterprise mergers under the same control through multiple transactions and step-by-step implementation
The assets and liabilities of the merged party acquired by the merging party in the merger shall be measured at their carrying amounts
in the consolidated financial statements of the ultimate controlling party on the merger date; The difference between the book value
of the investments held before the merger and the book value of the newly paid consideration on the merger date and the book value
of the net assets obtained during the merger is adjusted to the capital reserve (share premium). If the capital reserve is insufficient to
offset the retained earnings are adjusted. The long-term equity investment held by the merging party before obtaining control of the
merged party shall be offset against the beginning retained earnings or current period gains/losses of the comparative financial period
respectively in case the relevant gains/losses other comprehensive income and other changes in shareholders’ equity have been
recognized within the period from the latter between the date of acquiring the original equity and the date when the merging party
and the merged party are under the same ultimate control as the merging party to the merging date.
(2) Merger of enterprises not under the same control
For merge of enterprises not under the same control the merger cost is the fair value of the assets paid liabilities incurred or assumed
and equity securities issued on the acquisition date to obtain control over the acquired party. On the purchase date the assets
liabilities and contingent liabilities of the acquired party are recognized at fair value.The difference between the merger cost and the fair value share of identifiable net assets obtained from the acquired party in the
merger shall be recognized as goodwill and subsequently measured at cost minus accumulated impairment provisions; In case the
merge cost is lower than the fair value of identifiable net assets obtained from the acquired party in the merge the difference shall be
recognized in the gains/losses of current period after review.
46深圳市深粮控股股份有限公司2025年半年度报告全文
Implementing business mergers under different control through multiple transactions in stages
The merger cost is the sum of the consideration paid on the purchase date and the fair value of the equity of the acquired party held
prior to the purchase date. For the equity of the purchased party already held before the purchase date it shall be remeasured at its
fair value on the purchase date and the difference between the fair value and its book value shall be recognized in the current
investment income; The changes in other comprehensive income and other shareholders’ equity involved with the equity of the
purchased party before purchase date shall be carried forward to the current income of the purchase date not including other
comprehensive income arising from changes in net liabilities or net assets if the invested entity remeasures the defined benefit plan
as well as other comprehensive income related to non-tradable equity instrument investments that were originally designated to be
measured at fair value with changes recognized in other comprehensive income.
(3) Treatment of transaction costs in enterprise merger
The intermediary fees for auditing legal services evaluation and consulting as well as other related management expenses
incurred for business mergers are recognized in the current period’s gains/losses when incurred. The transaction costs of equity or
debt securities issued as consideration for the merger shall be included in the initial recognition amount of equity or debt securities.
7. Criteria for judging control and preparation methods for consolidated financial statements
(1) Criteria for judging control
The consolidation scope of the consolidated financial statements is determined based on control. Control refers to the company
having the power over the invested entity enjoying variable returns through participating in related activities of the invested entity
and having the ability to use the power over the invested entity to influence its return amount. When changes in relevant facts and
circumstances result in changes in the relevant elements involved in the definition of control the company will conduct reassessment.When determining whether to include a structured entity in the scope of consolidation the company takes into account all facts and
circumstances including evaluating the purpose and design of the establishment of the structured entity identifying the types of
variable returns and evaluating whether to control the structured entity by participating in its related activities and assuming some or
all of the variability of returns.
(2) Method of preparing consolidated financial statements
The consolidated financial statements are based on the financial statements of the Company and its subsidiaries and are prepared by
the Company based on other relevant information. When preparing consolidated financial statements the accounting policies and
period requirements of the Company and its subsidiaries are consistent and significant transactions and balances between companies
are offset.During the reporting period subsidiaries and businesses added due to merge of enterprises under the same control shall be deemed to
be included in the scope of the company’s consolidation from the date of being under the same ultimate control. The operating results
and cash flows from the date of being under the same ultimate control shall be separately included in the consolidated income
statement and consolidated cash flow statement.During the reporting period the income expenses and profits of subsidiaries and businesses added due to merge of enterprises not
under the same control from the purchase date to the end of the reporting period shall be included in the consolidated income
statement and their cash flows shall be included in the consolidated cash flow statement.The portion of the shareholder’s equity of the subsidiary that does not belong to the company shall be separately listed as minority
shareholder’s equity in the consolidated balance sheet under the shareholder's equity item; The shares belonging to minority interests
in the current net gains and losses of subsidiaries are presented as minority interests under the net profit in the consolidated income
statement. In case the losses assumed by the minority shareholders in the subsidiary exceed their share in the initial owner's equity of
47深圳市深粮控股股份有限公司2025年半年度报告全文
the subsidiary the balance shall still offset against the decrease in the minority shareholder’s equity.
(3) Purchase of minority shareholder equity in subsidiary companies
The difference between the cost of newly acquired long-term equity investments due to the purchase of minority equity and the net
asset that should be continuously calculated from the date of purchase or merger based on the new shareholding ratio as well as the
difference between the disposal price obtained from partial disposal of equity investments in subsidiaries without losing control and
the net asset that should be continuously calculated from the date of purchase or merger corresponding to the disposal of long-term
equity investments shall be adjusted to the capital reserve (share premium) in the consolidated balance sheet. If the capital reserve is
insufficient to offset retained earnings shall be adjusted.
(4) Treatment of loss of control over subsidiaries
If control over the original subsidiary is lost due to the disposal of partial equity investments or other reasons the remaining equity
shall be remeasured at fair value on the date of loss of control; The difference between the sum of the consideration obtained from
the disposal of equity and the fair value of the remaining equity minus the sum of the book value of net asset book of the original
subsidiary that should have been continuously calculated from the purchase date based on the original shareholding ratio and the
goodwill is recognized in the investment income for the period when control is lost.Other comprehensive income related to equity investments in the original subsidiary should be accounted for on the same basis as the
direct disposal of related assets or liabilities by the original subsidiary when control is lost. Other changes in owner’s equity related
to the original subsidiary and measured at equity method should be transferred to the current period’s gains and losses when control
is lost.
8. Classification of joint venture arrangements and accounting treatment methods for joint operations
Joint venture arrangement refers to an arrangement jointly controlled by two or more participating parties. The joint venture
arrangements of the company are divided into joint operations and joint ventures.
(1) Joint operation
In joint operation the company enjoys the assets related to the arrangement and assumes the liabilities related to the arrangement.The company confirms the following items related to the share of interests in joint operations and conducts accounting treatment in
accordance with the relevant accounting standards for enterprises:
A. Recognize individually held assets and jointly held assets based on their respective shares;
B. Recognize individual liabilities and jointly assume liabilities based on their respective shares;
C. Recognize the income generated from the sale of its share of joint operating output;
D. Recognize the revenue generated from the sale of output in joint operations based on their share;
E. Recognize the expenses incurred separately and the expenses incurred in joint operations based on their respective shares.
(2) Joint venture
In a joint venture the company only has the right to the net assets arranged by it.The company accounts for investments in joint ventures in accordance with the provisions of equity method accounting for long-term
equity investments.
48深圳市深粮控股股份有限公司2025年半年度报告全文
9. Recognition standards for cash and cash equivalents
Cash refers to the cash on hand and cash equivalents of deposits that can be used for payment at any time. Cash equivalent refers to
the investment held by the Company with short maturity and strong liquidity that are easy to be converted into known amounts with
little risk of change in cash value.
10. Foreign currency transactions and foreign currency statement translation
(1) Foreign currency transactions
The company conducts foreign currency business and converts the amount of the accounting currency at the exchange rate which is
determined in a systematic and reasonable manner and is approximately the spot exchange rate on the date of transaction.On the balance sheet date foreign currency monetary items are converted with the spot exchange rate on the balance sheet date. The
exchange difference arising from the difference between the spot exchange rate on the balance sheet date and the exchange rate for
initial recognition or on the previous balance sheet date shall be recognized in the current period's gains and losses; For foreign
currency non-monetary items measured at historical cost the spot exchange rate on the transaction date shall still be used for
translation; For foreign currency non-monetary items measured at fair value the spot exchange rate on the date of fair value
determination is adopted. The difference between the converted amount in the accounting currency and the original amount in the
accounting currency is recognized in the gains and losses of current period or other comprehensive income based on the nature of the
non-monetary item.
(2) Translation of foreign currency financial statements
At the balance sheet date when translating the foreign currency financial statements of overseas subsidiaries for the assets and
liabilities items in the balance sheet the spot exchange rate on the balance sheet date is used for translation. For the items of
shareholders’ equity except for “retained profits” other items are translated at the spot exchange rate on the date of occurrence.For the revenue and expense items in the income statement the exchange rate determined by a reasonable method of the system
and approximate to the spot exchange rate on the transaction date will be available for translation.All items in the cash flow statement are translated at the exchange rate determined by a reasonable method of the system and
approximate to the spot exchange rate on the date of cash flow occurrence. The impact amount of exchange rate fluctuations oncash is treated as an adjustment item and is booked into the “Impact of Exchange Rate Fluctuations on Cash and CashEquivalents” which is separately presented in the cash flow statement.The difference arising from the translation of financial statements is presented in “Other Comprehensive Income” under the
shareholders’ equity items in the balance sheet.In case of disposing of an overseas operation and losing control rights the translation difference of the foreign currency statements
related to this overseas operation which is presented under the items of owners' equity in the balance sheet shall be transferred in
full or in proportion to the gains/losses of the period of the disposal of such oversea operation.
11. Financial instrument
Financial instrument is the contract that forms the financial asses for an enterprise and forms the financial liability or equity
instrument for other units.
(1) Recognition and de-recognition of financial instruments
49深圳市深粮控股股份有限公司2025年半年度报告全文
The company recognizes the financial asset or liability when it becomes a party to a financial instrument contract.Financial assets that meet one of the following conditions shall be derecognized:
* The contractual right to receive cash flows from the financial asset is terminated;
* The financial asset has been transferred and meets the conditions for derecognizing the transfer of financial assets as follows.In case the current obligations of a financial liability have been fully or partially relieved the financial liability or a portion thereof
shall be derecognized. In case the company (debtor) signs an agreement with creditors to replace existing financial liabilities by
assuming new financial liabilities and the contractual terms of the new financial liabilities are substantially different from those of
the existing financial liabilities the existing financial liabilities shall be derecognized and the new financial liabilities shall be
recognized simultaneously.The financial assets bought or sold in conventional manners shall be recognized or derecognized on the trading day.
(2) Classification and initial measurement of financial assets
At the initial recognition according to the business model of managing financial assets and the contractual cash flow characteristics
of financial assets the Company classifies the financial assets into the financial assets measured at amortized cost the financial
assets measured at fair value and whose changes are included in other comprehensive income and the financial assets measured at
fair value and whose changes are included in current profit or loss.Financial assets are measured at fair value for initial recognition. For financial assets measured at fair value with changes recognized
in the gains and losses of current period the relevant transaction costs are directly recognized in the gains and losses of current
period; For other categories of financial assets relevant transaction costs are included in the initial recognition amount. The accounts
receivable arising from the sale of products or provision of services which do not include or consider significant financing
components shall be recognized at the expected amount of consideration that the company is entitled to receive for initial recognition.Financial assets measured at amortized cost
The Company classifies the financial assets that meet the following conditions and are not designated as financial assets measured at
fair value and whose changes are included in current profit or loss as financial assets measured at amortized cost:
* The group’s business model for managing the financial assets is to collect contractual cash flows; and
* The contractual terms of the financial assets stipulate that cash flow generated on a specific date will be only used to pay for the
principal and interest based on the outstanding principal amount.After initial recognition such financial assets are measured at amortized cost with the effective interest method. Gains or losses
arising from financial assets which are measured at amortized cost and are not a component of any hedging relationship are included
in current profit or loss when being terminated for recognition amortized by effective interest method or impaired.Financial assets measured at fair value and whose changes are included in other comprehensive income
The Company classifies the financial assets that meet the following conditions and are not designated as financial assets measured at
fair value and whose changes are included in current profit or loss as financial assets measured at fair value and whose changes are
included in other comprehensive income:
* The Group's business model for managing the financial assets is targeted at both the collection of contractual cash flows and
the sale of financial assets; and
* The contractual terms of the financial asset stipulate that the cash flow generated on a specific date is only used to pay for the
principal and the interest based on the outstanding principal amount.After initial recognition such financial assets are subsequently measured at fair value. Interests impairment losses or gains and
50深圳市深粮控股股份有限公司2025年半年度报告全文
exchange gains and losses calculated with the effective interest method are included in profit or loss for the period and other gains or
losses are included in other comprehensive income. At the time of derecognition the accumulated gains or losses previously included
in other comprehensive income shall be carried forward from other comprehensive income to current profit or loss.Financial assets measured at fair value and whose changes are included in current profit or loss
Except for the above financial assets measured at amortized cost and measured at fair value and whose changes are included in other
comprehensive income the Company classifies all other financial assets as financial assets measured at fair value and whose changes
are included in current profit or loss. In the initial recognition in order to eliminate or significantly reduce accounting mismatch the
Company irreversibly designates part of the financial assets that should be measured at amortized cost or measured at fair value and
whose changes are included in the other comprehensive income as the financial assets measured at fair value and whose changes are
included in current profit or loss.After the initial recognition such financial assets are subsequently measured at fair value and the gains or losses (including interests
and dividend income) are included in the current profit and loss unless the financial assets are part of the hedging relationship.The business model of managing financial assets refers to how the company manages financial assets to generate cash flow. The
business model determines whether the source of cash flow for the financial assets managed by the company is to receive contract
cash flow sell financial assets or a combination of both. the company determines the business model for managing financial assets
based on objective facts and specific business objectives determined by key management personnel.The company evaluates the contractual cash flow characteristics of financial assets to determine whether the contractual cash flow
generated by the relevant financial assets on a specific date is only for the payment of principal and interest based on the outstanding
principal amount. Principal refers to the fair value of financial assets at initial recognition; Interest includes consideration for the time
value of money credit risk associated with outstanding principal amounts for a specific period and other basic lending risks costs
and profits. In addition the company evaluates contract terms that may cause changes in the time distribution or amount of cash
flows in financial asset contracts to determine whether they meet the requirements of the aforementioned contract cash flow
characteristics.Only when the company changes its business model for managing financial assets all affected related financial assets shall be
reclassified on the first day of the first reporting period after the change in business model. Otherwise financial assets shall not be
reclassified after initial recognition.
(3) Classification and measurement of financial liabilities
The financial liabilities of the company are classified at initial recognition as financial liabilities measured at fair value through gains
and losses of current period financial liabilities measured at amortized cost. For financial liabilities that are not classified as
measured at fair value and whose changes are recognized in the gains and losses of current period the relevant transaction costs are
included in their initial recognition amount.Financial liabilities measured at fair value through gains and losses
Financial liabilities measured at fair value through gains and losses include trading financial liabilities and financial liabilities
designated at initial recognition as measured at fair value through profit or loss. For such financial liabilities subsequent
measurements are made at fair value and gains or losses resulting from changes in fair value as well as dividends and interest
expenses related to such financial liabilities are recognized in the gains and losses of current period.Financial liabilities measured at amortized cost
Other financial liabilities are measured with effective interest rate method at amortized cost and any gains or losses arising from
derecognition or amortization are recognized in the gains and losses of current period.
51深圳市深粮控股股份有限公司2025年半年度报告全文
The distinction between financial liabilities and equity instruments
Financial liabilities refer to liabilities that meet one of the following conditions:
* The contractual obligation to deliver cash or other financial assets to other parties.* Contractual obligations to exchange financial assets or liabilities with other parties under potential adverse conditions.* Non-derivative instrument contracts that require or can be settled with the company’s own equity instruments in the future and
the company will deliver a variable number of its own equity instruments according to this contract.* Derivative instrument contracts that require or can be settled with the company’s own equity instruments in the future except for
derivative instrument contracts where a fixed amount of self-equity instruments is exchanged for a fixed amount of cash or other
financial assets.Equity instruments refer to contracts that prove ownership of the remaining equity in assets of a certain enterprise after deducting all
liabilities.If the company cannot unconditionally avoid fulfilling a contractual obligation by delivering cash or other financial assets such
contractual obligation meets the definition of financial liability.If a financial instrument needs to be settled or can be settled with the company’s own equity instruments it is necessary to consider
whether the company’s own equity instruments used to settle the instrument are used as substitutes for cash or other financial assets
or to enable the holder of the instrument to enjoy the remaining equity in the assets after deducting all liabilities from the issuer. If it
is the former the instrument is the financial liability of the company; If it is the latter the instrument is the equity instrument of the
company.
(4) Derivative financial instruments and embedded derivative instruments
The derivative financial instruments of the company are initially measured at fair value on the date of signing the derivative
transaction contract and are subsequently measured at their fair value. The derivative financial instruments with a positive fair value
are recognized as an asset while those with a negative fair value are recognized as a liability. Any gains or losses arising from
changes in fair value that do not comply with hedge accounting regulations are directly recognized in the gains and losses of current
period.For mixed instruments containing embedded derivative instruments in case the main contract is a financial asset the relevant
provisions for financial asset classification shall apply to the mixed instruments as a whole. If the main contract is not a financial
asset and the mixed instrument is not measured at fair value through gains and losses the embedded derivative instrument is not
closely related to the main contract in terms of economic characteristics and risks and has the same conditions as the embedded
derivative instrument and the separate instrument meets the definition of a derivative instrument the embedded derivative
instrument is separated from the mixed instrument and treated as a separate derivative financial instrument. If it is not possible to
separately measure embedded derivative instruments at the time of acquisition or subsequent balance sheet dates the mixed
instrument as a whole shall be designated as a financial asset or liability measured at fair value with its changes recognized in the
gains and losses of current period.
(5) Impairment of financial assets
Based on expected credit losses the company conducts impairment accounting treatment and recognizes loss provisions for the
following items:
Financial assets measured at amortized cost;
52深圳市深粮控股股份有限公司2025年半年度报告全文
Accounts receivable and debt instrument investments measured at fair value with changes recognized in other
comprehensive income;
Contract assets defined in Enterprise Accounting Standard No. 14- Revenue;
Lease receivables;
Financial guarantee contracts (excluding those measured at fair value through profit or loss transfer of financial assets that
do not meet the termination recognition conditions or continued involvement in the transferred financial assets).Measurement of expected credit losses
Expected credit loss refers to the weighted average of credit losses of financial instruments weighted by the risk of default. Credit
loss refers to the present value of all cash shortages which is the difference between all contractual cash flows receivable discounted
at the original effective interest rate and expected cash flows received by the company.Considering reasonable and evidence-based information regarding past events current conditions and predictions of future economic
conditions with the risk of default as the weight the company calculates the probability weighted amount of the present value of the
difference between the cash flows receivable under the contract and the expected cash flows to be received and recognize the
expected credit loss.The company measures the expected credit losses of financial instruments at different stages separately. If the credit risk of financial
instruments has not significantly increased since initial recognition they are in the first stage and the company measures the loss
provision based on the expected credit losses within the next 12 months; If the credit risk of a financial instrument has significantly
increased since initial recognition but has not yet experienced credit impairment it is in the second stage and the company measures
the provision for losses based on the expected credit losses of the instrument over its entire duration; If a financial instrument has
experienced credit impairment since its initial recognition it is in the third stage and the company measures the provision for losses
based on the expected credit losses of the instrument over its entire duration.For financial instruments with lower credit risk on the balance sheet date the company assumes that their credit risk has not
significantly increased since initial recognition and measures loss provisions based on expected credit losses over the next 12 months.The expected credit loss for the entire expected duration of a financial instrument refers to the expected credit loss caused by all
possible default events that may occur throughout the expected duration of the financial instrument. The expected credit loss within
the next 12 months implies the expected credit loss that may occur due to a default event of a financial instrument within the next 12
months after the balance sheet data (within the expected duration in case the expected maturity of the financial instrument is less than
12 months) which is a part of the expected credit loss for the entire duration).
When measuring expected credit losses the longest term that the company needs to consider is the longest contract term that the
enterprise faces credit risk (including considering renewal options).For financial instruments in the first and second stages as well as those with lower credit risk the company calculates interest
income based on their book balance without deducting impairment provisions and actual interest rate. For financial instruments in the
third stage interest income is calculated based on their book balance minus the amortized cost of impairment provisions and the
actual interest rate.For receivables such as notes receivable accounts receivable and other receivables if the credit risk characteristics of a certain
customer are significantly different from those of other customers in the portfolio or if there is a significant change in the credit risk
characteristics of that customer the company will make individual separate bad debt reserve for that receivable. Except for accounts
receivable with individual bad debt reserve the company classifies accounts receivable into portfolios based on credit risk
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characteristics and calculates bad debt reserve on the basis of portfolio.Notes receivable accounts receivable and contract assets
For notes receivable and accounts receivable regardless of whether there are significant financing components the company always
measures its loss provision at an amount equivalent to the expected credit loss for the entire duration.When it is unable to assess the expected credit losses of a single financial asset at a reasonable cost the company categories accounts
receivable and notes receivable into portfolios based on credit risk characteristics calculates expected credit losses on the basis of
portfolio and determines the basis for portfolio and the method for measuring expected credit losses as follows:
A. Notes receivable
Accounts receivable portfolio 1: Bank acceptance bill
Accounts receivable portfolio 2: Commercial acceptance bill
B. Accounts receivable
Accounts receivable portfolio 1: Sales receivables portfolio
Accounts receivable portfolio 2: Specific object portfolio
For accounts receivable and contract assets classified into portfolio the company based on historical credit loss experience
combined with current conditions and predictions of future economic conditions calculate the expected credit loss by default risk
exposure and the expected credit loss rate for the entire duration
For accounts receivable classified into portfolio the company based on historical credit loss experience combined with current
conditions and predictions of future economic conditions prepare a comparison table between the aging of accounts receivable
and the expected credit loss rate for the entire duration and calculate the expected credit loss. The aging of the accounts receivable
is calculated since the recognition date of accounts receivable.Other receivables
The company categories other receivables into several combinations based on credit risk characteristics calculates expected credit
losses on the basis of portfolio and determines the basis for portfolio as follows:
Other accounts receivable portfolio 1: Expected portfolio of credit risk characteristics
Other accounts receivable portfolio 2: Specific object portfolio
For other receivables classified into portfolio the company based on historical credit loss experience calculate the expected credit
loss by default risk exposure and the expected credit loss rate over the next 12 months or the entire duration. The aging of the
accounts receivable is calculated since the recognition date of other accounts receivable.Creditors' investment and other creditors' investments
For creditors' investments and other creditors' investments the company calculates expected credit losses based on the nature of the
investment various types of counterparties and risk exposure default risk exposure and expected credit loss rate for the next 12
months or the entire duration.Assessment of significant increase in credit risk
The company compares the risk of default of financial instruments on the balance sheet date with the risk of default on the initial
recognition date to determine the relative change in default risk during the expected duration of financial instruments in order to
evaluate whether the credit risk of financial instruments has significantly increased since initial recognition.
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When determining whether credit risk has significantly increased since initial recognition the company considers reasonable and
evidence-based information including forward-looking information that can be obtained without unnecessary additional costs or
efforts. The information considered by the company includes:
The debtor fails to pay the principal and interest on the due date of the contract;
Serious deterioration of external or internal credit ratings (if any) of financial instruments that have occurred or are
expected to occur;
Serious deterioration of the debtor's operating results that has occurred or is expected to occur;
Existing or anticipated changes in technology market economy or legal environment that will have a significant adverse
impact on the debtor's ability to repay the company.Based on the nature of financial instruments the company evaluates whether credit risk significantly increases based on individual
financial instruments or combinations of financial instruments. When performing assessment based on financial instruments portfolio
the company can classify financial instruments based on common credit risk characteristics such as overdue information and credit
risk ratings.If the overdue period exceeds 30 days the company determines that the credit risk of the financial instrument has significantly
increased.Financial assets that have experienced credit impairment
The company assesses on the balance sheet date whether financial assets measured at amortized cost and creditors' investments
measured at fair value with changes recognized in other comprehensive income have experienced credit impairment. When one or
more events that have an adverse impact on the expected future cash flows of a financial asset occur the financial asset becomes a
financial asset that has experienced credit impairment. Evidence of credit impairment of financial assets includes the following
observable information:
The issuer or debtor encounters significant financial difficulties;
The debtor violates the contract such as paying interest or principal in default or overdue;
Due to economic or contractual considerations related to the financial difficulties of the debtor the company will not make
any concessions to the debtor under any other circumstances;
The debtor is likely to go bankrupt or undergo other financial restructuring;
The financial difficulties of the issuer or debtor have led to the disappearance of the active market for the financial asset.Reporting of provisions for expected credit losses
To reflect the changes in credit risk of financial instruments since initial recognition the company remeasures expected credit losses
on each balance sheet date. The consequent increase or reversal of loss provisions should be recognized as impairment losses or gains
in the gains and losses of current period. For financial assets measured at amortized cost the provision for losses shall offset the
booking amount of the financial asset as stated in the balance sheet; For creditors' investments measured at fair value with changes
recognized in other comprehensive income the loss provision shall be recognized in other comprehensive income and does not offset
the booking amount of the financial asset.Write-off
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If the company no longer reasonably expects the cash flow of the financial asset contract to be fully or partially recovered the book
amount of the financial asset shall be directly written down. This writes down constitutes the derecognition of related financial assets.This situation usually occurs when the company determines that the debtor does not have assets or sources of income to generate
sufficient cash flow to repay the amount to be written down. However according to the company’s procedures for recovering due
payments the financial assets that have been written down may still be affected by execution activities.In case financial assets that have been written down are subsequently recovered the reversed impairment losses shall be booked into
the gains and losses of current period.
(6) Financial asset transfer
Financial asset transfer refers to the transfer or delivery of financial assets to another party (transferee) other than the issuer of the
financial asset.If the company has transferred almost all the risks and rewards of ownership of financial assets to the transferee the financial asset
shall be derecognized; If almost all risks and rewards related to ownership of financial assets are retained the financial asset will not
be derecognized.In case the company neither transfers nor retains almost all the risks and rewards related to the ownership of financial assets the
following situations shall be handled separately: if the control over the financial asset is abandoned the financial asset shall be
derecognized and the resulting assets and liabilities shall be recognized; if the control over the financial asset is not abandoned the
relevant financial asset shall be recognized based on the continued involvement of the company in the transferred financial asset and
corresponding liabilities shall be recognized.
(7) Balance-out between the financial assets and liabilities
As the company has the legal right to balance out the financial liabilities by the net or liquidation of the financial assets the
balance-out sum between the financial assets and liabilities is listed in the balance sheet. In addition the financial assets and
liabilities are listed in the balance sheet without being balanced out.
12. Note receivable
13. Account receivable
14. Receivable financing
15. Other accounts receivable
16. Contract asset
17. Inventory
(1) Classification of inventory
Inventory includes raw materials revolving material goods in process goods in transit and work in process-outsourced and so on.
(2) Valuation methods for delivery of inventory
The inventory of the company is valued at actual cost upon acquisition. The raw materials and inventory goods are priced using the
weighted average method or individual valuation method at the time of shipping.
(3) Determination basis and provision method for inventory depreciation reserves
On the balance sheet date inventory is measured at the lower between cost and net realizable value. When its net realizable value is
lower than cost the inventory impairment provision is made.The net realizable value is the amount obtained by subtracting the estimated cost to be incurred until completion estimated sales
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expenses and related taxes from the estimated selling price of inventory. When determining the net realizable value of inventory it is
based on conclusive evidence obtained while considering the purpose of holding inventory and the impact of events after the balance
sheet date.The company usually makes inventory impairment provision based on individual inventory items.On the balance sheet date if the factors affecting the previous write-down of inventory value have disappeared the inventory
impairment provision shall be reversed within the originally provisioned amount.
(4) Inventory system
Inventory system is the perpetual inventory system.
(5) Amortization of low-value consumables and packaging materials
Low-value consumables and packaging materials adopt the method of primary resale;
18. Asset held for sale
(1) Recognition criteria and accounting treatment for non-current assets or disposal groups classified as held-for-sale category
In case the company recovers the carrying value of a non-current asset or a disposal group mainly through selling (including non-
monetary asset exchanges with commercial substance) rather than continuous use such non-current asset or disposal group shall
be classified as held-for-sale category.The above-mentioned non-current assets do not include investment real estate measured subsequently at fair value biological
assets measured at the net amount of fair value minus selling expenses assets formed from employee benefits financial assets
deferred income tax assets and rights arising from insurance contracts.A disposal group refers to a group of assets that are disposed of as a whole through sale or other means in a single transaction as
well as the liabilities directly related to these assets that are transferred in the transaction. Under certain circumstances a disposal
group includes goodwill obtained in a business combination.Non-current assets or disposal groups that meet the following conditions simultaneously shall be classified as held-for-sale
category categories: In accordance with the practice of selling such assets or disposal groups in similar transactions the non-
current assets or disposal groups can be sold immediately in their current state; the sale is highly likely to occur that is a
resolution has been made on a sales plan and a firm purchase commitment has been obtained and it is expected that the sale will
be completed within one year. In the case of losing control over a subsidiary due to reasons such as the sale of investment in the
subsidiary regardless of whether the company retains part of the equity investment after the sale when the investment in the
subsidiary to be sold meets the classification conditions for the held-for-sale category the investment in the subsidiary as a whole
shall be classified as the held-for-sale category in the individual financial statements and all the assets and liabilities of the
subsidiary shall be classified as the held-for-sale category in the consolidated financial statements.When initially measuring or re-measuring a non-current asset or disposal group held-for-sale at the balance sheet date the
difference between the carrying value and the net amount of fair value minus selling expenses shall be recognized as an asset
impairment loss. For the amount of asset impairment loss recognized for a disposal group held-for-sale the carrying value of the
goodwill in the disposal group shall be offset first and then the carrying values of the various non-current assets in the disposal
group shall be offset proportionally according to the proportion of their respective carrying values.If the net amount of the fair value of a non-current asset or disposal group held-for-sale minus selling expenses increases at a
subsequent balance sheet date the previously written-down amount shall be restored and reversed within the amount of asset
impairment loss recognized after being classified as held-for-sale category and the reversed amount shall be included in the
current gains/losses. The written-down carrying value of the goodwill shall not be reversed.The non-current assets held-for-sale and the assets in the disposal group held-for-sale shall not be depreciated or amortized; the
interest and other expenses of the liabilities in the disposal group held-for-sale shall continue to be recognized. For all or part of
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the investment in associated enterprise or joint venture classified as held-for-sale category the equity method of accounting shall
be suspended for the part classified as held-for-sale and the retained part not classified as held-for-sale category shall continue to
be accounted with the equity method; in case the company loses significant influence over the associated enterprise or joint
venture due to sale the equity method of accounting shall be suspended.If a certain non-current asset or disposal group is classified as held-for-sale category but later no longer meets the classification
conditions for held-for-sale category the company shall stop classifying it as held-for-sale category and measure it at the lower of
the following two amounts:
* The carrying value of the asset or disposal group before it was classified as held-for-sale category adjusted according to the
depreciation amortization or impairment that should have been recognized assuming it had not been classified as held-for-sale
category;
* The recoverable amount.
(2) Recognition criteria for discontinued operations
Discontinued operation refers to a separately distinguishable component that has been disposed of by the company or classified as
held-for-sale category by the company and meets one of the following conditions:
* The component represents an independent major business or a separate major operating region.* The component is part of a related plan for the disposal of an independent major business or a separate major operating region.* The component is a subsidiary acquired specifically for resale.
(3) Presentation
The company presents the non-current assets held-for-sale or the assets in the disposal group held-for-sale in the balance sheet in
“Assets held-for-sale” and presents the liabilities in the disposal group held-for-sale in “Liabilities held-for-sale”.The company presents the gains/losses from continuing operations and the gains/losses from discontinued operations separately in
the income statement. For non-current assets or disposal groups held-for-sale that do not meet the definition of discontinued
operations their impairment losses reversal amounts and disposal gains/losses are presented as the gains/losses from continuing
operations. The impairment losses reversal amounts and other operating gains/losses as well as disposal gains/losses of
discontinued operations are presented as gains/losses from discontinued operations.A disposal group that is intended to be taken out of use rather than sold and meets the conditions of the relevant component in the
definition of discontinued operations shall be presented as a discontinued operation as of the date of its cessation of use.For the discontinued operations presented in the current period in the current financial statements the information that was
originally presented as gains/losses from continuing operations is re-presented as gains/losses from discontinued operations for the
comparable accounting period. If a discontinued operation no longer meets the classification conditions for the held-for-sale
category in the current financial statements the information that was originally presented as gains/losses from discontinued
operations is re-presented as gains/losses from continuing operations for the comparable accounting period.
19. Creditors’ investment
20. Other creditors’ investment
21. Long-term accounts receivable
22. Long-term equity investment
Long term equity investments include equity investments in subsidiaries joint ventures and associated enterprises. In the joint
venture the company is capable of exerting significant influence on the invested entity.
(1) Determination of initial investment cost
Long term equity investments formed from enterprise merge: For long-term equity investments obtained through merge of enterprise
under the same control the investment cost shall be determined based on the share of the book value of the the shareholders’ equity
of the merged party in the consolidated financial statements of the final controller on the merger date; The long-term equity
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investment obtained through the merger of enterprises not under the same control shall be recognized as the investment cost of the
long-term equity investment based on the merger cost.Long-term equity investments obtained through other means: For the long-term equity investments obtained by paying cash the
actual purchase price paid shall be the initial investment cost; For long-term equity investments obtained through the issuance of
equity securities the fair value of the issued equity securities shall be the initial investment cost.
(2) Subsequent measurement and recognition methods of gains and losses
Investments in subsidiaries are measured with the cost method unless the investment meets the conditions for holding for sale;
Investments in associated enterprises and joint ventures are measured with equity method.For the long-term equity investments measured with cost method except for cash dividends or profits declared but not yet distributed
in the actual payment or consideration received at the time of investment the cash dividends or profits declared by the investee shall
be recognized as investment income and booked into gains and losses in current period.For long-term equity investments measured with the equity method if the initial investment cost is greater than the fair value of
identifiable net assets of the invested entity held at the time of investment the investment cost of the long-term equity investment
shall not be adjusted; If the initial investment cost is less than the fair value of the identifiable net assets of the invested entity held at
the time of investment the book value of the long-term equity investment shall be adjusted and the difference shall be recognized in
the gains and losses of the investment period.When measured with equity method investment income and other comprehensive income shall be recognized separately based on
the share of net gains and losses and other comprehensive income that should be enjoyed or shared by the invested entity and the
book value of long-term equity investments shall be adjusted; The book value of long-term equity investments shall be reduced
correspondingly in terms of the portion that should be enjoyed based on the profits or cash dividends declared by the invested entity;
Other changes in shareholders’ equity of the invested entity except for net gains and losses other comprehensive income and profit
distribution shall adjust the book value of long-term equity investments and be booked into capital reserves (other capital reserves).Based on the fair value of identifiable assets of the invested entity at the time of acquisition of the investment the share of net gains
and losses that should be enjoyed in the invested entity shall be adjusted according to the accounting policies and accounting periods
of the company before recognition.If significant influence or joint control can be exerted on the invested entity due to additional investment or other reasons but does
not constituting control on the conversion date the initial investment cost measured again with equity method shall be the sum of the
fair value of the original equity and the additional investment cost. If the original equity is classified as a non-tradable equity
instrument investment measured at fair value with changes recognized in other comprehensive income the cumulative fair value
changes related that were originally recognized in other comprehensive income shall be transferred to retained income when the
equity method is used for accounting.If the joint control or significant impact on the invested entity is lost due to the disposal of some equity investments or other reasons
the remaining equity after disposal shall be subject to accounting treatment in accordance with Accounting Standards for Enterprises
No. 22- Recognition and Measurement of Financial Instruments on the date of loss of joint control or significant impact and the
difference between fair value and book value shall be recognized in gains and losses in current period. Other comprehensive income
recognized for equity investments with equity method shall be measured on the same basis as the direct disposal of relevant assets or
liabilities by the invested entity when the equity method is terminated; Other changes in shareholders' equity related to the original
equity investment are transferred to gains and losses in current period.If control over the investee is lost due to the disposal of a portion of equity investment or other reasons and the remaining equity
after disposal can exercise joint control or significant influence over the investee it shall be measured with equity method and the
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remaining equity shall be deemed to be adjusted with the equity method from the time of acquisition; If the remaining equity after
disposal cannot exercise joint control or have a significant impact on the invested entity it shall be measured in accordance with the
relevant provisions of Enterprise Accounting Standard No. 22- Recognition and Measurement of Financial Instruments. The
difference between the fair value and the book value on the date of loss of control shall be recognized in gains and losses in current
period.If the shareholding ratio of the Company decreases due to capital increase by other investors and the company loses control over the
invested entity but is able to exercise joint control or exert significant influence on the invested entity the Company shall recognize
the rising net assets of the invested entity held by the company due to capital increase and share expansion according to the new
shareholding ratio and the difference between the original book value of the long-term equity investment corresponding to the
decrease in shareholding ratio that should be carried forward shall be included in the current gains and losses and then it shall be
adjusted in terms of the new shareholding ratio just as it is measured with equity method when the investment is obtained.The unrealized internal transaction gains and losses between the Company and its associated enterprises and joint ventures shall be
calculated in terms of the proportion of shareholding and recognized as investment gains and losses on the basis of offsetting.However the unrealized internal transaction losses incurred by the Company and the invested entity which is the impairment losses
of the transferred assets shall not be offset.
(3) Criteria of joint control and significant influence
Joint control is the Company’s contractually agreed sharing of control over an arrangement which relevant activities of such
arrangement must be decided by unanimously agreement from parties who share control. When determining whether there is joint
control firstly judge whether all the participants or participant group have controlling over such arrangement as a group or not and
then judge whether the decision-making for such arrangement are agreed unanimity by the participants or not. If all participants or a
group of participants must act together to determine the relevant activities of a certain arrangement it is considered that all
participants or a group of participants collectively control the arrangement; If there are two or more portfolios of participants to
collectively control a certain arrangement it does not constitute joint control. When determining whether there is joint control the
protective rights enjoyed are not considered.Significant influence is the power of the Company to participate in the financial and operating policy decisions of an invested party
but to fail to control or joint control the formulation of such policies together with other parties. When determining whether
significant influence can be exerted on the invested entity the potential factors of voting power as current convertible bonds and
current executable warrant of the invested party held by investors and other parties shall be considered.When the company directly or indirectly owns more than 20% (inclusive) but less than 50% of the voting shares of the invested
entity through its subsidiaries it is generally considered to have a significant impact on the invested entity unless there is clear
evidence that it cannot participate in the production and operation decisions of the invested entity and does not form a significant
impact; When the company owns less than 20% (exclusive) of the voting shares of the invested entity it is generally not considered
to have a significant impact on the invested entity unless there is clear evidence that it can participate in the production and operation
decisions of the invested unit and form a significant impact.
23. Investment real estate
Measurement model for investment real estate
Measured with cost method
Depreciation or amortization methods
Investment real estate refers to real estate held for the purpose of earning rent or capital appreciation or both. The company’s
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investment real estate includes leased land use rights land use rights held and prepared for transfer after appreciation and leased
buildings.The company's investment real estate is initially measured at cost at the time of acquisition and depreciated or amortized on a regular
basis in accordance with relevant regulations for fixed or intangible assets.The difference between the disposal income from sale transfer scrapping or damage of investment real estate after deducting its
book value and related taxes and fees is recognized in gains and losses in current period.
24. Fixed assets
(1) Recognition conditions
The company’s fixed assets refer to tangible assets held for the production of goods provision of services rental or business
management with a useful life exceeding one accounting year.Fixed assets can only be recognized when the economic benefits related to the fixed asset are likely to flow into the enterprise and the
cost of the fixed asset can be reliably measured.The company’s fixed assets are initially measured at their actual cost at the time of acquisition.Subsequent expenses related to fixed assets are recognized as fixed asset costs when the economic benefits related to them are likely
to flow into the company and their costs can be reliably measured; The daily repair expenses of fixed assets that do not meet the
subsequent expenditure conditions for capitalization of fixed assets shall be recognized in gains and losses in current period or in the
cost of related assets according to the beneficiaries at the time of occurrence. For the replaced part its book value shall be terminated.
(2) Depreciation method
Category Method Years of Scrap value Yearly depreciationdepreciation rate rate
House and buildings
Production buildings Straight-linedepreciation 20-35 5.00 4.75-2.71
Non-production buildings Straight-linedepreciation 20-40 5.00 4.75-2.38
Temporary dormitory and simple room Straight-line
etc. depreciation 5-15 5.00 19.00-6.33
Gas storage bin Straight-linedepreciation 20 5.00 4.75
Silo Straight-linedepreciation 50 5.00 1.90
Wharf and supporting facilities Straight-linedepreciation 50 5.00 1.90
Machinery equipment Straight-linedepreciation
Other machinery equipment Straight-linedepreciation 10-20 5.00 9.50-4.75
Warehouse transmission equipment Straight-linedepreciation 20 5.00 4.75
Transport equipment Straight-linedepreciation 3-10 5.00 31.67-9.50
Electronic equipment and others Straight-linedepreciation 2-10 5.00 47.50-9.50
Among them for fixed assets with impairment provision the cumulative amount of impairment provision of fixed assets should also
be deducted to determine the depreciation rate.
1) At the end of each year the company reviews the useful lives estimated residual values and depreciation methods of its
fixed assets.If there is a difference between the expected useful life and the original estimate the useful life of the fixed asset shall be
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adjusted; if there is a difference between the estimated residual value and the original estimate the estimated residual value
shall be adjusted.
2) Disposal of fixed assets
When a fixed asset is disposed of or it is expected that no economic benefits arise from its use or disposal such fixed asset
shall be de-recognized. The amount obtained from the disposal of fixed asset (including sales transfers scrapping or
damage) after deducting its carrying value and relevant taxes and fees shall be included in the current gains/losses.
25. Construction in progress
The cost of construction in progress of the company is determined based on actual project expenses including necessary project
expenses incurred during the construction period borrowing costs that should be capitalized before the project reaches its intended
usable state and other related expenses.Construction in progress is transferred to fixed assets when it reaches its intended usable state.
26. Borrowing expenses
(1) Recognition of the borrowing expenses capitalization
The borrowing costs incurred by the company which can be directly attributed to the acquisition construction or production of assets
that meet the capitalization conditions shall be capitalized and included in the relevant asset costs; Other borrowing costs are
recognized as expenses based on their amount at the time of occurrence and included in the current profit and loss. The borrowing
costs meeting the following conditions simultaneously shall be capitalized:
* Asset expenses have already occurred including expenses incurred in the form of cash payments transfer of non-cash assets or
assuming interest bearing debts for the purchase construction or production of assets that meet capitalization conditions;
* The borrowing costs have already been incurred;
* The necessary purchase construction or production activities to bring the assets to their intended usable or saleable state have
already begun.
(2) During the capitalization period of borrowing costs
When assets purchased or produced by the company that meet capitalization conditions reach the intended usable or saleable state
the capitalization of borrowing costs shall be ceased. The borrowing costs incurred after the assets that meet the capitalization
conditions reach their intended usable or saleable status are recognized as expenses based on their amount at the time of occurrence
and recognized in gains and losses in current period.If assets that meet the capitalization criteria experience abnormal interruptions during the purchase construction or production
process and the interruption lasts for more than three consecutive months the capitalization of borrowing costs shall be suspended;
The borrowing costs during the normal interruption period continue to be capitalized.
(3) The capitalization rate of borrowing costs and the calculation method of capitalization amount
The actual interest expenses incurred in the current period of specialized borrowing minus the interest income obtained from
depositing unused borrowing funds into banks or the investment income obtained from temporary investments shall be capitalized;
The capitalization amount of general borrowing is determined by multiplying the weighted average of the accumulated asset
expenditures that exceed the portion of specialized borrowing by the capitalization rate of the general borrowing used. The
capitalization rate is determined based on the weighted average interest rate of general borrowing.During the capitalization period all exchange differences on foreign currency borrowings shall be capitalized; The exchange
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difference of foreign currency general borrowings is recognized in gains and losses in current period.
27. Biological assets
(1) Criteria for determining biological assets
Biological assets refer to assets composed of living animals and plants. Biological assets that simultaneously meet the following
conditions shall be recognized:
* Asset expenses have already occurred including expenses incurred in the form of cash payments transfer of non-cash assets or
assuming interest bearing debts for the purchase construction or production of assets that meet capitalization conditions;
* The borrowing costs have already been incurred;
* The necessary purchase construction or production activities to bring the assets to their intended usable or saleable state have
already begun.
(2) Classification of biological assets
The biological assets of the company include productive biological assets.* Productive biological assets
The biological assets of the company are productive biological assets. Productive biological assets refer to biological assets held for
the purpose of producing agricultural products providing services or renting. Productive biological assets are initially measured at
cost. Subsequent expenses incurred on productive biological assets after achieving the intended production and operation objectives
are recognized in gains and losses in current period.The management and feeding expenses incurred after the closure or achievement of the intended production and operation objectives
of productive biological assets are presented in the current gains/losses.The main productive biological assets of the company are tea trees. For productive biological assets that achieve the predetermined
production and operation objectives depreciation is made with the straight-line method. The useful life is determined as the
remaining life of land use after deducting the immature period of tea trees (5 years) with a residual value rate of 5.00%. After
deducting residual value from the estimated useful life of biological assets the depreciation rate is determined as follows:
the company shall review the useful life estimated net residual value and depreciation method of productive biological assets at least
at the end of the year. Any changes shall be treated as changes in accounting estimates.The difference between the disposal income from the sale inventory loss death or damage of productive biological assets after
deducting their book value and related taxes and fees is recognized in gains and losses in current period.
(3) Treatment of impairment of biological assets
If the net realizable value of consumable biological assets is lower than their book value a impairment provision of biological assets
shall be made in terms of the difference between the net realizable value and the book value and shall be booked into gains and
losses in current period. If the factors affecting the impairment of consumable biological assets have disappeared the write-down
amount should be restored and reversed within the original impairment provision and the reversed amount should be recognized in
gains and losses in current period.No impairment provision is made for public welfare biological assets.
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28. Oil and gas assets
29. Intangible assets
(1) Service life and its determination basis estimated situation amortization method or review procedure
The intangible assets of the company include land use rights forest use rights trademark use rights store operation rights software
use rights patents and others.Intangible assets are initially measured at cost and analyzed for their useful life upon acquisition. For intangible assets with a limited
useful life the amortization method that reflects the expected realization of economic benefits related to the asset shall be adopted
from the time when the intangible asset is available for use and shall be amortized within the expected useful life; If the expected
implementation method cannot be reliably determined the straight-line method shall be used for amortization; Intangible assets with
uncertain useful lives are not amortized.The amortization method for intangible assets with limited service life is as follows:
Estimation of the service life of intangible assets with limited service life
Item Useful life Basis Amortizationmethod Note
Land use right Amortized the actual rest of life after certificate of Certificate of land use Straight-line
land use right obtained right method
Forest tree use right Service life arranged Protocol agreement Straight-line
method
Trademark use 10 years Actual situation of the Straight-line
right Company method
Shop management Service life arranged Protocol agreement Straight-line
right method
Software use right 5-8 years Protocol agreement Straight-line
method
Patents and others 20 years Actual situation of the Straight-line
Company method
At the end of each fiscal year the company reviews the useful life and amortization method of intangible assets with limited useful
lives. If there are differences from previous estimates the original estimates will be adjusted and treated as changes in accounting
estimates.If it is expected that a certain intangible asset will no longer bring future economic benefits to the enterprise on the balance sheet date
the book value of the intangible asset shall be fully transferred to the gains and profits of current period.
(2) The collection scope and related accounting treatment methods of R&D expenditure
The R&D expenses of the company are directly related to our R&D activities including employee salaries direct investment
expenses depreciation expenses and long-term deferred expenses design expenses equipment debugging expenses intangible asset
amortization expenses and other expenses. The salaries of R&D personnel are allocated to R&D expenses based on project working
hours. The sharing of equipment production lines and venues between R&D activities and other production and operation activities
is allocated as R&D expenses based on the proportion of working hours and area.The company distinguishes the expenses for internal R&D projects into research stage expenses and development stage expenses.The expenses incurred during the research phase are recognized in the gains and profits of current period when incurred.Expenditures during the development phase can only be capitalized if they meet the following conditions: completing the intangible
asset to make it technically feasible for use or sale; Has the intention to complete the intangible asset and use or sell it; The ways in
which intangible assets generate economic benefits including the ability to prove that the products produced with the intangible asset
or the intangible asset are marketable and the ability to prove its usefulness if the intangible asset will be used internally; Have
64深圳市深粮控股股份有限公司2025年半年度报告全文
sufficient technical financial and other resources to support the development of the intangible asset and the ability to use or sell the
intangible asset; The expenses attributable to the development stage of the intangible asset can be reliably measured. Development
expenses that do not meet the above conditions are recognized in the gains and profits of current period.After meeting the above conditions and conducting technical and economic feasibility studies the company's R&D project enters the
development stage after being approved.The capitalized expenses during the development stage are listed as development expenses on the balance sheet and are converted
into intangible assets from the date the project reaches its intended use.
30. Impairment of long-term assets
The impairment of assets such as long-term equity investments in subsidiaries associated enterprises and joint ventures investment
real estate fixed assets construction in progress productive biological assets measured with cost models right-of-use assets
intangible assets and goodwill (excluding inventory deferred income tax assets and financial assets) shall be determined with the
following method:
On the balance sheet date it is determined whether there are any signs of possible impairment of assets. If there are signs of
impairment the company will estimate its recoverable amount and conduct impairment testing. Impairment tests are conducted
annually for goodwill intangible assets with uncertain useful lives and intangible assets that have not yet reached a usable state
regardless of whether there are signs of impairment resulting from business mergers.The recoverable amount is determined based on the higher of the net amount after deducting disposal expenses from the fair value of
the asset and the present value of the expected future cash flows of the asset. The company estimates its recoverable amount based on
individual assets; If it is difficult to estimate the recoverable amount of a single asset the recoverable amount of the asset group shall
be determined based on the asset group to which the asset belongs. The recognition of an asset group is based on whether the main
cash inflows generated by the asset group are independent of the cash inflows of other assets or asset groups.When the recoverable amount of an asset or asset group is lower than its book value the company will write down its book value to
the recoverable amount and the written down amount will be recognized in the gains and profits of current period while making
corresponding provisions for asset impairment.As for the impairment test of goodwill the book value of goodwill formed by enterprise merger shall be allocated to the relevant
asset group in a reasonable manner from the date of purchase; If it is difficult to allocate to the relevant asset groups allocate it to the
relevant asset group portfolio. The relevant asset groups or asset group portfolio refer to asset groups or asset group portfolio that can
benefit from the synergistic effects of enterprise mergers and are not larger than the reporting branches determined by the company.When conducting impairment testing if there are signs of impairment in asset groups or asset group portfolios related to goodwill
the first step is to conduct impairment testing on asset groups or asset group portfolio that do not include goodwill calculate the
recoverable amount and recognize the corresponding impairment losses. Then conduct impairment tests on asset groups or asset
group combinations containing goodwill and compare their book value with their recoverable amount. If the recoverable amount is
lower than the book value recognize impairment losses on goodwill.Once asset impairment losses are recognized they will not be reversed in future accounting periods.
31. Long term deferred expenses
The long-term deferred expenses incurred by the company are valued at actual cost and amortized on an average over the expected
benefit period. For long-term deferred expenses that cannot benefit future accounting periods their amortized value is fully
recognized in the gains and profits of current period.
65深圳市深粮控股股份有限公司2025年半年度报告全文
32. Contract liabilities
33. Employee compensation
(1) Accounting treatment methods for short-term compensation
During the accounting period when the employees provider service to the company the actual employee wages bonuses medical
insurance premiums work-related injury insurance premiums maternity insurance premiums and housing provident fund paid to
employees according to prescribed standards and proportions are recognized as liabilities and included in the gains and profits of
current period or related asset costs.
(2) Accounting treatment methods for post employment benefits
The post employment welfare plan includes a defined contribution plan and a defined benefit plan. In the defined contribution plan
the company no longer bears further payment obligations after paying fixed fees to an independent fund; A defined benefit plan
refers to a post employment welfare plan other than a defined contribution plan.Defined contribution plans
Include basic pension insurance unemployment insurance and enterprise annuity plans.During the accounting period when employees provide services the amount of contributions calculated based on the defined
contribution plan is recognized as liability and included in the gains or losses of current period or related asset costs.Defined benefit plans
For defined benefit plans the actuarial valuation is conducted by an independent actuary on the annual balance sheet date and the
cost of providing benefits is determined with the expected cumulative benefit unit method. The employee compensation cost
resulting from the defined benefit plan set by the company includes the following components:
* Service costs including current service costs past service costs and settlement gains or losses. Among them the current service
cost refers to the increase in the present value of obligations of the defined benefit plan caused by the provision of services by
employees in the current period; The past service cost refers to the increase or decrease in the present value of the defined benefit
plan obligations related to employee services in the previous period caused by the modification of the defined benefit plan.* The net interest on net liabilities or net assets of a defined benefit plan including interest income on assets of defined benefit plan
interest expenses on obligations of defined benefit plan and interest affected by asset cap.* The changes resulting from remeasuring the net liabilities or net assets of the defined benefit plan.Unless other accounting standards require or allow employee welfare costs to be included in asset costs the company will include
items * and* in the gains and profits of current period; The* is included in other comprehensive income and will not be reversed
to profit or loss in subsequent accounting periods. When the original defined benefit plan is terminated all the portion originally
included in other comprehensive income will be carried over to undistributed profits within the scope of equity.
(3) Accounting treatment methods for termination benefits
If the company provides termination benefits to employees the employee compensation liability arising from termination benefits
shall be recognized and included in the gains and profits of current period as soon as possible when the company cannot unilaterally
withdraw the termination benefits provided due to the termination of labor relations plan or layoff proposal; When the company
confirms the costs or expenses related to restructuring involving payment of termination benefits.For those who implement an internal retirement plan for employees economic compensation before the official retirement date is
66深圳市深粮控股股份有限公司2025年半年度报告全文
considered as termination benefits. During the period from the date the employee stops providing services to the normal retirement
date the salary and social insurance premiums to be paid to the retired employee shall be included in the current profit and loss in a
lump sum. Economic compensation after the official retirement date (such as normal pension) shall be treated as post employment
benefits.
(4) Accounting treatment method for other long-term employee benefits
Other long-term employee benefits provided by the company to employees that meet the conditions for defined contribution plan
shall be handled in accordance with the relevant provisions on setting up a defined contribution plan mentioned above. Those which
meet conditions for defined benefit plan shall be treated in accordance with the relevant provisions on the set benefit plan mentioned
above. However “changes arising from remeasuring the net liabilities or net assets of the set benefit plan” in the relevant employee
compensation shall be included in the current profit and loss or related asset cost.
34. Accrual liability
The Company will recognize the obligations related to contingencies as expected liabilities when they meet the following conditions:
(1) The responsibility is a current responsibility undertaken by the Company;
(2) Fulfilling of the responsibility may lead to financial benefit outflow;
(3) The responsibility can be measured reliably for its value.
Accrual liabilities are initially measured based on the best estimate of the expenses required to fulfill current obligations taking into
account factors such as risk uncertainty and time value of money related to contingencies. If the time value of currency has a
significant impact the best estimate is determined by discounting the relevant future cash outflows. The company reviews the book
value of estimated liabilities on the balance sheet date and adjusts the book value to reflect the current best estimate.If all or part of the expenses required to settle the confirmed accrual liabilities are expected to be compensated by a third party or
other parties the compensation amount can only be separately recognized as an asset when it is basically certain that it will be
received. The confirmed compensation amount does not exceed the book value of the recognized liability.
35. Share-based payment
36. Other financial instrument of preferred stocks and perpetual bond
37. Revenue
Disclosure of accounting policies adopted for revenue recognition and measurement by business type
(1) General principles
The company recognizes revenue when the customer acquires control of the relevant goods or services in accordance with the
contractual obligations.If the contract contains two or more performance obligations the company shall on the commencement date of the contract allocate
the transaction price to each individual performance obligation based on the relative proportion of the individual selling price of the
goods or services promised by each individual performance obligation and measure revenue based on the transaction price allocated
to each individual performance obligation.If one of the following conditions is met it is to fulfill the performance obligation within a certain period of time; Otherwise it is to
fulfil the performance obligation at a certain point of time:
* The customer obtains and consumes the economic benefits brought by the company's performance at the same time as the
company fulfills its obligations.
67深圳市深粮控股股份有限公司2025年半年度报告全文
* Customers are able to control the goods under construction during the fulfillment process of the company.* The goods produced by the company during the performance process have irreplaceable uses and the company has the right to
collect payments for the cumulative completed performance portion throughout the entire contract period.For performance obligations performed during a certain period of time the company recognizes revenue based on the progress of
performance during that period. In case the progress of performance cannot be reasonably determined when the costs already
incurred by the company are expected to be compensated revenue shall be recognized in terms of the amount of costs already
incurred until the progress of performance can be reasonably determined.For performance obligations performed at a certain point of time the company recognizes revenue at the point when the customer
obtains control of the relevant goods or services. When determining whether a customer has acquired control over goods or services
the company will consider the following signs:
* The company has the current payment right for the goods or services which means that the customer has a current payment
obligation for the goods.* The company has transferred the legal ownership of the product to the customer that is the customer already has legal ownership
of the product.* The company has transferred the physical ownership of the product to the customer which means the customer has already taken
possession of the product.* The company has transferred the main risks and rewards of ownership of the product to the customer that is the customer has
acquired the main risks and rewards of ownership of the product.* The customer has accepted the product or service.* Other signs indicating that the customer has obtained control over the product.
(2) Specific methods
* Grain and oil trade and processing business
The revenue from sales of goods is recognized after the goods sold domestically have been delivered and meet the relevant terms and
conditions stipulated in the contract;
The revenue of export sales is recognized after the goods have been shipped and declared and meet the relevant terms and conditions
stipulated in the contract.* Grain and oil storage logistics and services
Dynamic grain and oil reserves and rotation services: recognize income when relevant labor activities occur. Specifically the income
from grain and oil reserves is calculated and recognized monthly based on the actual amount of grain and oil reserves and the reserve
prices specified in the Shenzhen Municipal Government Grain Reserve Cost Contract Operating Regulations and the Shenzhen
Municipal Edible Vegetable Oil Government Reserve Cost Contract Operating Regulations.The warehousing logistics and transshipment business including services such as warehousing loading onto ships direct pick-up
fumigation and transferring goods between warehouses is recognized by calculating according to the charging time and method
stipulated in the contract or agreement.* Food beverage and tea processing
68深圳市深粮控股股份有限公司2025年半年度报告全文
The company shall recognize revenue when it has delivered the products to the buyers as agreed in the contract and obtained the
buyers' receipt confirmation the buyers have obtained the control of the products the payment has been received or the payment
voucher has been obtained and the relevant economic benefits are highly likely to flow in.* Leasing business
For property leasing services the realization of revenue shall be recognized on the date when the lessee is due to pay the rent as
specified in the transaction contract or agreement.* Other businesses
The revenue from property management services shall be recognized when the relevant labor services occur and the payment is
received simultaneously or the voucher for receiving the payment is obtained.The revenue of other businesses shall be measured and recognized according to the charging time and method stipulated in the
contract or agreement.In case similar businesses adopt different business models different revenue recognition methods and measurement methods will be
involved.
38. Contract cost
The contract cost includes the incremental cost incurred to obtain the contract and the contract performance cost.The incremental cost incurred to obtain the contract refers to the cost that the company would not have incurred without obtaining the
contract (such as sales commission). The cost which is expected to be recovered will be recognized by the company as a contract
acquisition cost and as an asset. Except for the expected incremental costs that can be recovered other expenses incurred by the
company to obtain the contract shall be booked in the gains and profits of current period.If the cost incurred in fulfilling a contract does not fall within the scope of accounting standards for other enterprises such as
inventory and meets the following conditions simultaneously the company recognizes it as a contract performance cost as an asset:
* The cost is directly related to a current or expected contract including direct labor direct materials manufacturing expenses (or
similar expenses) costs clearly borne by the customer and other costs incurred solely due to the contract;
* This cost increases the resources that the company will use in the future to fulfill its contractual obligations;
* The cost is expected to be recovered.The assets recognized for contract acquisition costs and the assets recognized for contract performance costs (hereinafter referred to
as “assets related to contract costs”) are amortized on the same basis as the recognition of goods or services revenue related to the
assets and are booked in the gains and profits of current period. If the amortization period does not exceed one year it shall be
recognized in the current profit and loss when it occurs.In case the book value of assets related to contract costs exceeds the difference between the following two items the company makes
impairment provisions for the excess and recognizes it as an asset impairment loss:
* The expected remaining consideration that the company can obtain for the transfer of goods or services related to the asset;
* The estimated cost to be incurred for the transfer of the relevant goods or services.
39. Government grant
Government grant is recognized when they meet the conditions attached to government grants and can be received.
69深圳市深粮控股股份有限公司2025年半年度报告全文
Government grant as monetary assets shall be measured at the amount received or receivable. The government grants as non-
monetary assets shall be measured at fair value; If the fair value cannot be reliably obtained it shall be measured at a nominal amount
of 1 yuan.Asset-related government subsidies refer to government grants obtained by the company for the purchase construction or other
formation of long-term assets; Others are income-related government grants.For those whose targets are not clearly specified in government documents and form long-term assets the government grant
corresponding to the asset value shall be regarded as asset-related government grants and the remaining part shall be regarded as
income-related government grants; In case it is difficult to make distinguishing the government grants as a whole shall be regarded
as income-related government grants.Asset-related government grants are recognized as deferred income and booked in gains and losses in a reasonable and systematic
manner over the useful life of the relevant assets. Income-related government subsidies which are used to compensate related costs or
losses that have already occurred shall be included in the gains and profits of current period; The income-related government
subsidies which are used to compensate related costs or losses in future periods shall be recognized in deferred income and
recognized in gains and losses of current period during the recognition period of related costs or losses. Government grants measured
at nominal amounts are directly recognized in the gains and profits of current period. The company adopts a consistent approach for
handling the same or similar government subsidy businesses.Government grants related to daily activities are recognized in other income based on the essence of economic transactions.Government subsidies unrelated to daily activities are included in non- operating income.When recognized government subsidies need to be returned in case the book value of the relevant assets is offset at the initial
recognition the book value of the assets shall be adjusted; If there is a balance of related deferred income it shall offset the book
balance of related deferred income and the excess shall be recognized in the gains and profits of current period; In other situations it
shall be directly included in the gains and profits of current period.For the policy preferential loans and interest subsidies obtained by the company in case the finance department allocates interest
subsidy to the lending bank the company will use the actual received loan amount as the book value of the loan and calculate the
relevant loan costs based on the loan principal and the policy preferential interest rate in case the finance department directly
allocates interest subsidy to the company the company will offset the relevant borrowing costs with the corresponding interest
subsidy.
40. Deferred income tax assets/deferred income tax liabilities
Income tax includes current income tax and deferred income tax. Except for adjustments to goodwill arising from enterprise merge or
deferred income tax related to transactions or events directly recognized in shareholders’ equity they are all recognized as income
tax expenses in gains and losses of current period.The deferred income tax is recognized with the balance sheet liability method and in terms of the temporary difference between the
book value of assets and liabilities on the balance sheet date and the tax basis.All taxable temporary differences are recognized as related deferred income tax liabilities unless the taxable temporary differences
arise in the following transactions:
(1) The initial recognition of goodwill or the initial recognition of assets or liabilities arising from transactions with the following
characteristics: the transaction is not a business merger and does not affect accounting profits or taxable income at the time of the
transaction (except for individual transactions where the initially recognized assets and liabilities result in equal taxable temporary
differences and deductible temporary differences);
70深圳市深粮控股股份有限公司2025年半年度报告全文
(2) For taxable temporary differences related to investments in subsidiaries joint ventures and associated enterprises the timing of
the reversal of such temporary differences can be controlled and it is likely that they will not be reversed in the foreseeable future.For deductible temporary differences deductible losses that can be carried forward to future years and tax deductions the company
recognizes deferred tax assets arising from them to the extent of future taxable income that is likely to be obtained for offsetting
deductible temporary differences deductible losses and tax deductions unless the deductible temporary differences arise in the
following transactions:
1) This transaction is not a enterprise merger and it does not affect accounting profits or taxable income at the time of transaction
(except for individual transactions where initially recognized assets and liabilities result in equal taxable temporary differences
and deductible temporary differences);
2) For deductible temporary differences related to investments in subsidiaries joint ventures and associated enterprises if the
following conditions are met simultaneously the corresponding deferred income tax assets shall be recognized: temporary
differences are likely to be reversed in the foreseeable future and taxable income that can be used to offset deductible
temporary differences is likely to be obtained in the future.On the balance sheet date the company measures deferred income tax assets and liabilities at the applicable tax rate during the
expected period of asset recovery or liability settlement and reflects the income tax impact of the expected method of asset recovery
or liability settlement on the balance sheet date.On the balance sheet date the company reviews the book value of deferred income tax assets. If it is likely that sufficient taxable
income will not be obtained in the future period to offset the benefits of deferred income tax assets the book value of deferred
income tax assets shall be written down. When it is highly possible to obtain sufficient taxable income the written down amount
shall be reversed.On the balance sheet date deferred income tax assets and deferred income tax liabilities are presented at the net amount after
offsetting when they simultaneously meet the following conditions:
1) The taxpayer within the company has the legal right to settle current income tax assets and current income tax liabilities on a
net basis;
2) Deferred income tax assets and deferred income tax liabilities are related to the income tax levied by the same tax
administration department on the same taxpayer within the company.
41. Leasing
(1) The company as lessee
On the commencement date of the lease term the Company recognizes the right-of-use assets and lease liabilities for all leases
except for simplified short-term lease and low value asset lease.The initial measurement of lease liabilities is based on the present value of lease payments that have not been paid on the start date of
the lease term calculated using the implicit interest rate of the lease. If the implicit interest rate of the lease cannot be determined the
incremental borrowing rate is used as the discount rate. The lease payment amount includes fixed payment amount and substantial
fixed payment amount. If there is a lease incentive the relevant amount of the lease incentive shall be deducted; Variable lease
payments depending on index or ratio; The exercise price of the purchase option provided that the lessee reasonably determines that
the option will be exercised; The amount to be paid for exercising the option to terminate the lease provided that the lease term
reflects that the lessee will exercise the option to terminate the lease; And the expected amount to be paid based on the residual value
of the guarantee provided by the lessee. Subsequently the interest expense of the lease liability for each period of the lease term shall
71深圳市深粮控股股份有限公司2025年半年度报告全文
be calculated at a fixed periodic interest rate and included in the current profit and loss. Variable lease payments that are not included
in the measurement of lease liabilities are recognized in the gains and profits of current period when they are actually incurred.Short term leasing
Short term lease refers to a lease with a lease term not exceeding 12 months from the start date of the lease term excluding leases
with purchase options.The company will recognize the lease payments for short-term leases in the relevant asset costs or current profit and loss with the
straight-line method during each period of the lease term.For short-term leasing the company adopts the simplified treatment method mentioned above for the items that meet the short-term
leasing conditions in the following asset types according to the category of leased assets.Low value asset leasing
The low value asset leasing refers to leasing with lower value when a single leased asset is a brand new asset.The company will record the lease payments for low value asset leases in the relevant asset costs or current profit and loss with the
straight-line method during each period of the lease term.For low value asset leasing the company chooses to adopt the simplified treatment method mentioned above based on the specific
situation of each lease.Lease change
If there is a change in lease and the following conditions are met simultaneously the company will treat the lease change as a
separate lease for accounting treatment: * The lease change expands the lease scope by adding the right to use one or more leased
assets; * The increased consideration is equivalent to the individual price for the expansion of the lease scope adjusted according to
the situation of the contract.If the lease change is not accounted for as a separate lease on the effective date of the lease change the Company shall reallocate the
consideration of the contract after the change redetermine the lease term and remeasure the lease liability based on the present value
of the lease payment amount after the change and the revised discount rate.If the lease change results in a reduction in the lease scope or lease term the company shall adjust the book value of the right-of-use
assets accordingly and record the relevant gains or losses from partial or complete termination of the lease in the gains and profits of
current period.If other lease changes result in the remeasurement of lease liabilities the Company shall adjust the book value of the right of use
assets accordingly.
(2) The company as a lessor
When the company acts as the lessor leases that have substantially transferred all risks and rewards related to asset ownership are
recognized as financing leases while leases other than financing leases are recognized as operating leases.Finance lease
In financial leasing at the beginning of the lease term the company uses the net lease investment as the book value of the receivable
financing lease payments. The net lease investment is the sum of the unguaranteed residual value and the present value of the lease
payments that have not yet been received on the start date of the lease term discounted at the implicit interest rate of the lease. the
72深圳市深粮控股股份有限公司2025年半年度报告全文
company as the lessor calculates and recognizes interest income for each period of the lease term at a fixed periodic interest rate.The variable lease payments obtained by the company as the lessor which are not included in the net lease investment measurement
are recognized in the gains and profits of current period when actually incurred.The derecognition and impairment of receivable financing lease payments shall be accounted for in accordance with the provisions of
Accounting Standards for Enterprises No. 22- Recognition and Measurement of Financial Instruments and Accounting Standards for
Enterprises No. 23- Transfer of Financial Assets.Operating lease
The rent of operating leases is recognized in the gains and profits of current period using the straight-line method for each period
during the lease term. The initial direct expenses related to operating leases shall be capitalized amortized over the lease term on the
same basis as rental income recognition and recognized in the gains and profits of current period in installments. The variable lease
payments related to operating leases that are not included in the lease income are recognized in the gains and profits of current period
when actually incurred.Lease change
If there is a change in the operating lease the company will treat it as a new lease for accounting treatment from the effective date of
the change. The prepaid or receivable lease payments related to the lease before the change are considered as the new lease payments.If there is a change in financing lease and the following conditions are met simultaneously the company will treat the change as a
separate lease for accounting treatment: * The change expands the lease scope by adding the right to use one or more leased assets;
* The increased consideration is equivalent to the individual price for the expansion of the lease scope adjusted according to the
situation of the contract.If there is a change in financing lease that has not been accounted for as a separate lease the Company will treat the changed lease as
follows: * If the change takes effect on the lease commencement date the lease will be classified as an operating lease. The
Company will treat it as a new lease from the effective date of the lease change and use the net lease investment before the effective
date of the lease change as the book value of the leased asset; * If the change takes effect on the commencement date of the lease
the lease will be classified as a financing lease and the company will conduct accounting treatment in accordance with the provisions
of the Accounting Standards for Enterprises No. 22- Recognition and Measurement of Financial Instruments regarding the
modification or renegotiation of contracts.
42. Other important accounting policy and estimation
43. Changes of important accounting policy and estimation
(1) Changes of important accounting policies
□Applicable ?Not applicable
(2) Changes of important accounting estimation
□Applicable□Not applicable
(3) Implementation of new accounting standards adjustment for the first time starting from 2025 and implementation of relevant
financial statement items at the beginning of the year for the first time
□Applicable ?Not applicable
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44. Others
VI. Tax
1. Type of tax and rate for main applicable tax
Taxes Basis Rate
Taxable value added (The taxable
amount is calculated by multiplying the
taxable sales amount by the applicable
VAT 13.00% 9.00%6.00%5.00%3.00%
tax rate and deducting the input tax
allowed for deduction in the current
period)
Urban maintenance and construction tax Actual paid turnover tax 7.00%5.00%
Enterprise income tax Taxable income 25.00%
Educational surcharge Actual paid turnover tax 3.00%
Local educational surcharge Actual paid turnover tax 2.00%
For ad valorem taxes 1.2% of the
remaining value after deducting 20.00%
from the original value of the property
Property tax 1.20%12.00%
shall be calculated and paid; For levy
based on rent calculated and paid at
12.00% of rental income
When real estate property rights are
transferred a one-time payment shall be
Deed tax 3.00%-5.00%
made to the property transferee at the
agreed contract price
Rate of income tax for different taxpaying body:
Taxpaying body Rate of income tax
Shenzhen Cereals Holdings Co. Ltd. 25.00%
Shenzhen Cereals Group Co. Ltd (hereinafter referred to as “SZCG”) 25.00% tax exemption for some businesses
Shenzhen Hualian Grain and Oil Trading Co. Ltd. (hereinafter referred to as
25.00%
“Hualian Cereals and Oil”)
Dongguan Shenliang Hualian Cereals and Oil Trading Co. Ltd (hereinafter
25.00%
referred to as “Dongguan Hualian”)
Shenzhen Shenliang Hongjun Catering Management Co. Ltd. (hereinafter
25.00%
referred to as “Shenliang Hongjun”)
Shenzhen Flour Co. Ltd (hereinafter referred to as “Shenzhen Flour”) 25.00% tax exemption for some businessesShenliang Quality Inspection Co. Ltd. (hereinafter referred to as “ShenliangQuality Inspection”) 20.00%Hainan Shenliang Oil & Food Co. Ltd. (hereinafter referred to as “Hainan Oil& Food”) 20.00%
Shenzhen Shenliang Doximi Business Co. Ltd. (hereinafter referred to as
“Doximi”) 25.00%
Shenzhen Shenliang Big Kitchen Food Supply Chain Co. Ltd (hereinafter
referred to as “Big Kitchen”) 25.00%
Shenzhen Shenliang Storage (Yingkou) Co. Ltd (hereinafter referred to as
“Yingkou Storage”) 25.00%
Shenzhen Shenliang Cold Chain Logistics Co. Ltd. (hereinafter referred to as
“Cold Chain Logistics”) 15.00%
Shenzhen Shenliang Property Development Co. Ltd. (hereinafter referred to as
“Shenliang Property Development”) 25.00%
Shenzhen Shenliang Property Management Co. Ltd. (hereinafter referred to as
“Shenliang Property Management”) 20.00%Dongguan Shenliang Logistics Co. Ltd. (hereinafter referred to as “Dongguan 25.00%
74深圳市深粮控股股份有限公司2025年半年度报告全文Logistics”)
Dongguan International Food Industrial Park Development Co. Ltd.(hereinafter referred to as “International Food”) 25.00%
Dongguan Shenliang Oil & Food Trade Co. Ltd. (hereinafter referred to as
“Dongguan Oil & Food”) 25.00%
Shuangyashan Shenliang Cereals Base Co. Ltd. (hereinafter referred to as
“Shuangyashan”) 25.00%
Shenzhen Shenbao Huacheng Technology Co. Ltd. (hereinafter referred to as
“Shenbao Huacheng”) 15.00%
Wuyuan Ju Fang Yong Tea Industry Co. Ltd (hereinafter referred to as
“Wuyuan Ju Fang Yong”) 15.00%
Shenzhen Shenshenbao Investment Co. Ltd (hereinafter referred to as
“Shenshenbao Investment”) 25.00%
Shenzhen Shenshenbao Tea Culture Commercial Management Co. Ltd.(hereinafter referred to as “Shenbao Tea Culture”) 25.00%
Hangzhou Fuhaitang Catering Management Chain Co. Ltd. (hereinafter
referred to as “Fuhaitang Catering”) 25.00%
Hangzhou Fuhaitang Tea Ecology Technology Co. Ltd (hereinafter referred to
as “Fuhaitang Tea Ecology”) 25.00%Mount Wuyi Shenbao Rock Tea Co. Ltd. (hereinafter referred to as “ShenbaoRock Tea”) 25.00%
Yunnan Shenbao Pu’er Tea Supply Chain Management Co. Ltd. (hereinafter
referred to as “Pu’er Tea Supply Chain”) 25.00%Shenzhen Shenliang Food Co. Ltd. (hereinafter referred to as “ShenzhenShenliang Food”) 25.00%Huizhou Shenliang Food Co. Ltd. (hereinafter referred to as “HuizhouShenliang Food”) 20.00%Huizhou Shenbao Technology Co. Ltd. (hereinafter referred to as “HuizhouShenbao”) 25.00%
Shenliang Hongli Grain and Oil (Shenzhen) Co. Ltd (hereinafter referred to as
25.00%
“Shenliang Hongli”)
Xingye Food Co. Ltd. (hereinafter referred to as “Xingye Food”) 16.50%Shenliang Intelligent Storage Co. Ltd.(hereinafter referred to as “Intelligent 20.00%Storage”）
2. Preferential taxation
(1) VAT discounts and approvalAccording to the “Notice of the Ministry of Finance and the State Administration of Taxation on the Issues Concerning the VATCollection and Exemption of Grain Enterprises (CSZ [1999] No. 198)” and “Shenzhen Tax Service State Taxation Administrationand Shenzhen Finance Bureau SGSF (SCF [1999] No.428)” confirming that SZCG the Company’s subsidiary and its subsidiaries
are state-owned grain purchase and sale enterprises that undertake grain collection and storage tasks for Shenzhen the grain sold is
subject to tax-free declaration by rule and enjoys the exemption from VAT. In addition according to the stipulation of the“Announcement of State Administration of Taxation on Relevant Management Matters After Clarifying the Cancellation of theApproval of Some VAT Preferential Policies” (SAT Announcement 2015 No. 38) the approval for exemption from VAT and the
involved tax review and approval procedures for the state-owned grain enterprises that undertake grain collection and storage tasks
other grain enterprises that operate tax-free projects and enterprises that have edible vegetable oil sales business for government
reserves are canceled and changed to record management. The taxpayer does not change the content of the record materials during
the period of tax exemption can be put on a one-time record. In December 2013 SZCG obtained the notice of the VAT preferential
record (SGSFJBM [2013] No.2956) from Shenzhen Futian State Administration of Taxation. In the case of no change in policy this
limited filing period started on January 1 2014.The VAT input tax amount of the preferential item was separately accounted for and
the input VAT calculation method cannot be changed within 36 months after the selection. As of June 30 2025 the tax exemption
policy has been in effect since its filing in 2014 and the company’s VAT input tax has not changed since it was accounted for
separately in 2014 so the company continues to enjoy the tax preference.
(2) Stamp duty house property tax and urban land use tax preferences
75深圳市深粮控股股份有限公司2025年半年度报告全文
According to the stipulations of the Announcement on Continuing the Implementation of Tax Preferential Policies for Some
National Reserve Commodity Reserves([2023]No.48) confirming that the fund account book of SZCG the Company’s subsidiary
and its direct depots is exempt from stamp duty confirming that the written purchase and sale contracts of SZCG in the process of
undertaking the commodity reserve business are exempt from stamp duty and confirming that SZCG’s house property and land
used for the commodity reserve business are exempt from house property tax and urban land use tax. The execution time limit for
this tax preference policy is from January 1 2024 to December 31 2027.
(3) Enterprise income tax
1) On May 27 2021 the Ggeneral Aadministration of Taxation Ministry of Finance issued the Notice on the Extension of
Preferential Policies of Enterprise Income Tax of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone in
Shenzhen the enterprise income tax of qualified enterprises located in Qianhai Shenzhen-Hong Kong Modern Service Industry
Cooperation Zone is levied at the rate of 15.00% and the Notice to be implemented from January 1 2021 to December 31
2025. The Company's subsidiary cold chain logistics is registered in Shenzhen Qianhai Cooperation Zone which is eligible for
preferential tax conditions. According to relevant policies of the cooperation zone its income tax will enjoy a preferential tax
of 15.00%.
2) On December 23 2021 Shenbao Huacheng a subsidiary of the Company obtained the High-tech Enterprise Certificate
(Certificate No.: GR202444206671) jointly issued by the Shenzhen Municipal Bureau of Industry and Information Technology
the Shenzhen Finance Bureau and the Shenzhen Tax Service State Taxation Administration which is valid for three years.According to the relevant preferential policies of the state for high-tech enterprises the qualified high-tech enterprises will pay
corporate income tax at a reduced income tax rate of 15.00% within three years from the year of identification. Shenbao
Huacheng will enjoy the preferential tax policy from 2025 to 2027.
3) On November 3 2024 Wuyuan Ju Fang Yong a subsidiary of the Company obtained the High-tech Enterprise Certificate
(Certificate No.: GR202436001138) jointly issued by the Science and Technology Department of Jiangxi Province the Finance
Department of Jiangxi Province and the Jiangxi Provincial Tax Service State Taxation Administration which is valid for
three years. According to the relevant preferential policies of the state for high-tech enterprises qualified high-tech enterprises
will pay corporate income tax at a reduced income tax rate of 15.00% within three years from the year of identification.Wuyuan Ju Fang Yong will enjoy the preferential tax policy from 2025 to 2027.
4) According to the Notice of the Ministry of Finance and the State Taxation Administration on the Treatment of Corporate
Income Tax Treatment of Fiscal Funds for Special Purposes (CS[2009]No.87) the governmental service incomes obtained by
SZCG the Company’s subsidiary and its subordinate companies by carrying out government grain reserves business are fiscal
funds for special purposes those that meet the requirements can be regarded as non-taxable incomes and deducted from the
total income when calculating the taxable income. Expenses arising from the use of the above non-taxable income for
expenditure shall not be deducted from the calculation of taxable income; for assets formed from expenditure the calculated
depreciation and amortization shall not be deducted from the calculation of taxable income.
5) Shenzhen Flour a subsidiary of the Company is a flour primary processing enterprise according to the stipulations of the“Notice on Issuing the Scope (Trial) of Primary Processing of Agricultural Products Applicable to the Corporate Income TaxPreferential Policy (CS[2008]No.149)” and the “Supplementary Notice on the Scope of Primary Processing of AgriculturalProducts Applicable to the Corporate Income Tax Preferential Policy of the Ministry of Finance and the State Administrationof Taxation” (CS[2011]No.26) the wheat primary processing is exempt from income tax.
6) According to the provisions of the Announcement of the Ministry of Finance and the State Taxation Administration on
Relevant Tax Policies to Further Support the Development of Small and Micro - sized Enterprises and Individual Industrial and
Commercial Households (CZBSHZJ [2023]No.12) the policy of reducing the taxable income of small and micro - profitable
76深圳市深粮控股股份有限公司2025年半年度报告全文
enterprises by 25% and levying enterprise income tax at a rate of 20% shall be extended until December 31 2027. The
company’s subsidiary Hainan Grain and Oil Shenliang Property Shenliang Quality Inspection Huizhou Shenliang and
Intelligent Storage are small and micro - profitable enterprises and meet the conditions for tax preferential treatment.
3. Other
VII. Notes to main items of consolidated financial statements
1. Monetary funds
In RMB
Item Ending balance Opening balance
Cash on hand 9345.67 9442.96
Cash in bank 177196830.99 164844740.19
Other monetary funds 2596819.86 3345108.08
Total 179802996.52 168199291.23
Among them: the total amount of
funds deposited overseas 179802996.52 3949901.14
Other explanations:
2. Tradable financial assets
In RMB
Item Ending balance Opening balance
Including:
Including:
Other explanation:
3. Derivative financial assets
In RMB
Item Ending balance Opening balance
Other explanation:
4. Note receivable
(1) By category
In RMB
Item Ending balance Opening balance
Bank acceptance bill 4572126.00 2327160.00
Total 4572126.00 2327160.00
(2) Accrued bad debts reserve
In RMB
Ending balance Opening balance
Category Book value Bad debts reserve Book Book value Bad debts reserve Book
Amount Ratio Amount Accrual valueratio Amount Ratio Amount
Accrual value
ratio
Including:
Bills
receivable
with bad
debts reserve
accrual on
77深圳市深粮控股股份有限公司2025年半年度报告全文
single basis
Including:
Total
If the bad debts reserve of account receivable is made on the basis of the general model of expected credit losses:
□Applicable□Not applicable
(3) Bad debts reserve accrual recovered or reversed in the period
Bad debts reserve accrual in the period:
In RMB
Amount changed in the period
Category Opening balance Accrual Recovered or Ending balancereversed Written-off Other
Including major amount bad debts reserve that recovered or reversed in the period:
□ Applicable□Not applicable
(4) Notes receivable already pledged by the Company at the end of the period
In RMB
Item Amount pledged at period-end
(5) Notes endorsed or discounted and undue on balance sheet date
Item Ending derecognized amount Ending not derecognized amount
(6) Note receivable charged off in the period
In RMB
Item Amount charged off
Including major note receivable charged off:
In RMB
Enterprise Nature Amount charged off Reason for charged Procedure of charged Resulted by relatedoff off transaction (Y/N)
Explanation on note receivable charged off:
5. Account receivable
(1) By aging
In RMB
Aging Ending book balance Beginning book balance
Within 1 year(inclusive) 259323907.52 237689963.04
1-2 years 2104626.38 4395809.28
2-3 years 1785252.38 812823.91
Over 3 years 94660313.20 95921013.66
3-4 years 662902.92 664460.24
4-5 years 664460.24 2096832.37
Over 5 years 93332950.04 93159721.05
Total 357874099.48 338819609.89
(2) Accrued bad debts reserve
In RMB
Ending balance Opening balance
Category
Book balance Bad debts reserve Book value Book balance Bad debts reserve Book value
78深圳市深粮控股股份有限公司2025年半年度报告全文
Amount Ratio Amount Accrual ratio Amount Ratio Amount
Accru
al ratio
Account
receivable
with bad
debts 99896308.0 99871020.7 99.97 100008783. 99914189.3 99.91
reserve 27.91% 25287.30 29.52% 94594.266 6 % 63 7 %
accrual on
single
basis
Including:
Account
receivable
with bad 257977791. 255068117. 238810826. 235694971.debts 72.09% 2909674.02 1.13% 70.48% 3115854.61 1.23%
reserve 42 40 26 65
accrual on
portfolio
Including
Portfoli 135623393. 132713719. 118311513. 115195659.o of sales 37.90% 2909674.02 2.15% 34.92% 3115854.61 2.63%
receivable 44 42 69 08
Object- 122354397. 122354397. 120499312. 120499312.specific 34.19% 35.56%
portfolio 98 98 57 57
357874099.100.00102780694.28.72255093404.338819609.100.00103030043.30.41235789565.
Total
48%78%7089%98%91
Bad debts reserve accrual on single basis
In RMB
Opening balance Ending balance
Name
Book balance Bad debts Book balance Bad debtsreserve reserve Accrual ratio Accrual causes
Bad debts
reserve accrual 100008783.63 99914189.37 99896308.06 99871020.76 99.97% Low possibility
on single basis of recovery
Total 100008783.63 99914189.37 99896308.06 99871020.76
Bad debts reserve accrual on portfolio
In RMB
Ending balance
Name
Book balance Bad debts reserve Accrual ratio
Portfolio of sales receivable 135623393.44 2909674.02 2.15%
Total 135623393.44 2909674.02
Explanation on the basis for determining portfolio:
Bad debts reserve accrual on portfolio:
In RMB
Ending balance
Name
Book balance Bad debts reserve Accrual ratio
Object-specific portfolio 122354397.98
Total 122354397.98
Explanation on the basis for determining portfolio:
If the bad debts reserve of account receivable is made in accordance with the general model of expected credit losses:
□ Applicable□Not applicable
(3) Bad debts reserve accrued recovered or reversed
Bad debts reserve accrued in the period:
In RMB
Change in current period
Category Opening balance Ending balance
Accrued Recovered or Charged off Other
79深圳市深粮控股股份有限公司2025年半年度报告全文
reversed
Bad debts
reserve for
accounts 103030043.98 -241027.75 -8321.45 102780694.78
receivable
Total 103030043.98 -241027.75 -8321.45 102780694.78
Important bad debts reserve recovered or reversed:
In RMB
Basis and rationality to
define the accrual ratio
Name Recovered or reversed Reason for recovery Manner of reversal
of original bad debts
reserve
(4) Account receivable charged off in the period
In RMB
Item Amount charged off
Including major account receivable charged off:
In RMB
Enterprise Nature Amount charged off Reason for charged Procedure of Resulted by relatedoff charged off transaction (Y/N)
Explanation on account receivable charged off:
(5) Top 5 receivables and contract assets at ending balance by debtor
In RMB
Ending balance of
Ending balance of Ending balance of Ending balance of
Ratio in total
ending balance of bad debt reserveName accounts receivable contract assets accounts receivable and impairmentand contract assets accounts receivableand contract assets reserve of contractassets
First 119639240.42 119639240.42 33.43%
Second 12700000.00 12700000.00 3.55%
Third 12402226.92 12402226.92 3.47% 93961.51
Fourth 10455627.54 10455627.54 2.92% 10455627.54
Fifth 8558214.80 8558214.80 2.39% 35629.98
Total 163755309.68 163755309.68 45.76% 10585219.03
6. Contract asset
(1) Contract asset
In RMB
Ending balance Opening balance
Item
Book balance Bad debtsreserve Book value Book balance
Bad debts
reserve Book value
(2) Amount and reasons for significant changes in book value during the reporting period
In RMB
Item Amount of change Reason for change
(3) Accrued bad debts reserve
In RMB
Ending balance Opening balance
Category
Book value Bad debts reserve Book Book value Bad debts reserve Book
80深圳市深粮控股股份有限公司2025年半年度报告全文
Amount Ratio Amount Accrual value Amount Ratio Amount Accrual valueratio ratio
Including:
Including:
If the bad debts reserve of account receivable is made on the basis of the general model of expected credit losses:
□Applicable□Not applicable
(4) Bad debts reserve accrued recovered or reversed
In RMB
Recovered or reversed Written-off in the
Item Accrued in the period Reason
in the period period
Important bad debts reserve recovered or reversed:
In RMB
Basis and rationality to
define the accrual ratio
Enterprise Recovered or reversed Reason for recovery Manner of reversal
of original bad debts
reserve
Other explanation:
(5) Contract assets charged off during the reporting period
In RMB
Item Amount charged off
Including major contract assets charged off:
In RMB
Enterprise Nature Amount charged off Reason for charged Procedure of charged Resulted by relatedoff off transaction (Y/N)
Explanation on contract assets charged off:
Other explanation:
7. Account receivable financing
(1) Category of account receivable financing
In RMB
Item Ending balance Opening balance
(2) Accrued bad debts reserve
In RMB
Ending balance Opening balance
Category Book value Bad debts reserve Book Book value Bad debts reserve Book
Amount Ratio Amount Accrual value Accrual valueratio Amount Ratio Amount ratio
Including:
Including:
The bad debts reserve of account receivable is made on the basis of the general model of expected credit losses:
In RMB
Phase I Phase II Phase III
Bad debts reserve Expected credit losses Expected credit losses for the entire Expected credit losses for the entireduration (without credit impairment duration (with credit impairment Totalover next 12 months occurred) occurred)
81深圳市深粮控股股份有限公司2025年半年度报告全文
Balance on Jan. 1
2025 in the period
Classification basis and accrual ratio of bad debts reserve for each stage
Explanation on significant changes in the book balance of accounts receivable financing with changes in impairment provision in
the current period:
(3) Bad debts reserve accrued recovered or reversed
In RMB
Amount changed in the period
Category Opening balance
Accrued Recovered or
Ending balance
reversed Written-off Other
Important bad debts reserve recovered or reversed
In RMB
Basis and rationality to
define the accrual ratio
Enterprise Recovered or reversed Reason for recovery Manner of reversal
of original bad debts
reserve
Other explanation:
(4) Account receivable financing already pledged by the Company at period-end
In RMB
Item Amount pledged at period-end
(5) Account receivable financing endorsed or discounted and undue on balance sheet date
In RMB
Item Amount derecognized at period-end Amount not derecognized at period-
end
(6) Account receivable financing charged off in the period
In RMB
Item Amount charged off
Including important account receivable financing charged off:
In RMB
Enterprise Nature Amount charged off Reason for charged Procedure of charged Resulted by relatedoff off transaction (Y/N)
Explanation on account receivable financing charged off:
(7) Changes of account receivable financing and change of fair value in the period
(8) Other explanation
8. Other accounts receivable
In RMB
Item Ending balance Opening balance
Other accounts receivable 27834070.02 19978436.61
Total 27834070.02 19978436.61
82深圳市深粮控股股份有限公司2025年半年度报告全文
(1) Interest receivable
1) Category of interest receivable
In RMB
Item Ending balance Opening balance
2) Significant overdue interest
In RMB
Whether impairment has occurred
Borrower Ending balance Overdue period Overdue reason
and its judgment basis
Other explanation:
3) Accrued bad debts reserve
□Applicable□Not applicable
4) Bad debts reserve accrued recovered or reversed
In RMB
Amount changed in the period
Category Opening balance Ending balance
Accrued Recovered orreversed Written-off Other
Important bad debts reserve recovered or reversed:
In RMB
Basis and rationality to
Enterprise Recovered or reversed Reason for recovery Manner of reversal define the accrual ratioof original bad debts
reserve
Other explanation:
5) Interest receivable charged off in the period
In RMB
Item Amount charged off
Including important interest receivable charged off:
In RMB
Enterprise Nature Amount charged off Reason for charged Procedure of charged Resulted by relatedoff off transaction (Y/N)
Explanation on interest receivable charged off:
Other explanations:
(2) Dividends receivable
1) Category of dividends receivable
In RMB
Item (or investee) Ending balance Opening balance
2) Significant dividends receivable with aging over one year
In RMB
Whether impairment
Item (or investee) Ending balance Aging Reason for not received has occurred and its
judgment basis
83深圳市深粮控股股份有限公司2025年半年度报告全文
3) Accrued bad debts reserve
□Applicable□Not applicable
4) Bad debts reserve accrued recovered or reversed
In RMB
Amount changed in the period
Category Opening balance Recovered or Ending balanceAccrued reversed Written-off Other
Important bad debts reserve recovered or reversed:
In RMB
Basis and rationality to
define the accrual ratio
Enterprise Recovered or reversed Reason for recovery Manner of reversal
of original bad debts
reserve
Other explanation:
5) Dividends receivable charged off in the period
In RMB
Item Amount charged off
Including major dividends receivable charged off:
In RMB
Enterprise Nature Amount charged off Reason for charged Procedure of charged Resulted by relatedoff off transaction (Y/N)
Explanation on dividends receivable charged off:
Other explanation:
(3) Other accounts receivable
1) By nature
In RMB
Nature Ending book balance Beginning book balance
Deposit and margin 18222579.01 16410289.56
Other intercourse funds 110506091.54 105477322.66
Total 128728670.55 121887612.22
2) By aging
In RMB
Aging Ending book balance Beginning book balance
Within 1 year(inclusive) 16733958.76 9698491.15
1-2 years 3625945.77 7784603.76
2-3 years 7784603.76 5278542.28
Over 3 years 100584162.26 99125975.03
3-4 years 1458187.14 2121384.83
4-5 years 2121384.83 737000.59
Over five years 97004590.29 96267589.61
Total 128728670.55 121887612.22
84深圳市深粮控股股份有限公司2025年半年度报告全文
3) Accrued bad debts reserve
□Applicable □Not applicable
In RMB
Ending balance Opening balance
Book value Bad debts reserve Book value Bad debts reserve
Category Book Book
Accrual
Amount Ratio Amount value
Accrual
Amount Ratio Amount value
ratio ratio
Bad debts
reserve
accrual on
single basis
Including:
Bad debts
reserve
accrual on
portfolio
basis
Including:
Total
Bad debts reserve accrual on single basis
In RMB
Opening balance Ending balance
Category Bad debts Bad debts
Book value Book value Accrual ratio Reason
reserve reserve
Bad debts reserve accrual on portfolio of expected credit loss
In RMB
Ending balance
Category
Book value Bad debts reserve Accrual ratio
Portfolio of expected credit
6580480.281856140.8828.21%
loss
Total 6580480.28 1856140.88
Explanation on the basis to determine such portfolio：
Bad debts reserve accrual on object-specific portfolio
In RMB
Ending balance
Category
Book value Bad debts reserve Accrual ratio
Object-specific portfolio 20716293.06
Total 20716293.06
Explanation on the basis to determine such portfolio:：
If the bad debts reserve of account receivable is made on the basis of the general model of expected credit losses:
In RMB
Phase I Phase II Phase III
Bad debts reserve Expected credit losses Expected credit losses Expected credit losses Total
over next 12 months for the entire duration for the entire duration
85深圳市深粮控股股份有限公司2025年半年度报告全文
(without credit (with credit impairment
impairment occurred) occurred)
Balance of Jan. 1 2025 3698170.13 98211005.48 101909175.61
Balance of Jan. 1 2025
in the period
Current accrual 827454.17 827454.17
Current reversal 1842029.25 1842029.25
Balance on June 30
20251856140.8899038459.65100894600.53
Classification basis and bad debts reserve ratio for each stage
Changes in book balance with significant changes in impairment provision in the current period
□Applicable□Not applicable
4) Bad debts reserve accrued recovered or reversed
Bad debts reserve accrued in the period:
In RMB
Amount changed in the period
Category Opening balance Recovered or Ending balanceAccrued reversed Written-off Other
Bad debts reserve of
other accounts 101909175.61 1014575.08 100894600.53
receivable
Total 101909175.61 1014575.08 100894600.53
Important bad debts reserve recovered or reversed:
In RMB
Basis and rationality to
define the accrual ratio
Name Recovered or reversed Reason for recovery Manner of reversal
of original bad debts
reserve
5) Other accounts receivable charged off in the period
In RMB
Item Amount charged off
Including major other account receivable charged off:
In RMB
Enterprise Nature Amount charged off Reason for charged Procedure of charged Resulted by relatedoff off transaction (Y/N)
Explanation on other account receivable charged off:
6) Top 5 other accounts receivable at ending balance by debtors
In RMB
Proportion in total
Enterprise Nature Ending balance Aging other receivables at Ending balance of
ending balance (%) bad debt reserve
First Intercourse funds 23608742.46 Over five years 18.34% 22187644.18
Second Intercourse funds 8326202.63 Over five years 6.47% 8326202.63
Third Intercourse funds 8285803.57 Over five years 6.44% 8285803.57
Fourth Intercourse funds 8257311.80 Over five years 6.41% 8257311.80
Fifth Intercourse funds 6781000.00 1-2 years 5.27%
Total 55259060.46 42.93% 47056962.18
86深圳市深粮控股股份有限公司2025年半年度报告全文
7) Those booked into other account receivables due to centralized fund management
In RMB
Other explanation:
9. Account paid in advance
(1) By aging
In RMB
Ending balance Opening balance
Aging Amount Ratio Amount Ratio
Within 1 year 10251139.32 93.98% 7575700.47 77.49%
1-2 year 74067.00 0.68% 1614572.15 16.52%
2-3 years 364250.00 3.34% 367510.00 3.76%
Over 3 years 218246.08 2.00% 218246.08 2.23%
Total 10907702.40 9776028.70
Explanation on reasons for not timely settling important account paid in advance with aging over one year:
(2) Top 5 accounts paid in advance at ending balance by prepayment object
Other explanation:
10. Inventory
Whether the Company needs to comply with the disclosure requirements of the real estate industry or not
No
(1) By category
In RMB
Ending balance Opening balance
Inventories fall Inventories
provision or fall provision
Item contract or contract
Book balance performance Book value Book balance performance Book value
costs costs
impairment impairment
provision provision
Raw materials 92232575.13 13668205.65 78564369.48 80869593.40 14029193.74 66840399.66
Goods in
process 27861163.79 27861163.79 26297439.74 26297439.74
Finished goods 3480957950.69 105191344.99 3375766605.70 3990325129.27 87793814.10 3903440914.10
Goods in
transit 11948144.68 11948144.68 15150734.79 14241135.86
Low value
consumables -
6990366.642165628.794824737.856304862.832190627.194114235.64
packaging
materials
Work in
process- 5388642.06 5388642.06 5388642.06 5388642.06
outsourced
Materials in
transit 30064517.52 30064517.52
Total 109402277.03625378842.99 126413821.49 3498965021.50 4154400919.61 4044998642.52
9
87深圳市深粮控股股份有限公司2025年半年度报告全文
(2) Data resource recognized as inventory
In total
Data resource Data resource
Data resource
Item inventory self- inventory acquired Total
inventory outsourced
processed with other manners
(3) Inventories fall provision or impairment provision of contract performance costs
In RMB
Opening Current amount increased Current amount decreasedItem balance Reversal or Ending balanceAccrual Other write-off Other
Raw materials 14029193.74 5111.87 366099.96 13668205.65
Finished goods 87793814.10 42559301.21 25161770.32 105191344.99
Low value
consumables -
packaging 2190627.19 2991.14 27989.54 2165628.79
materials
Work in
process- 5388642.06 5388642.06
outsourced
Total 109402277.09 42567404.22 25555859.82 126413821.49
Inventories fall provision accrual on portfolio
In RMB
Ending Opening
Portfolio name
Ending balance Inventories fall
Accrual ratio of Accrual ratio of
provision inventories fall
Opening Inventories fall
provision balance provision
inventories fall
provision
Standard for inventories fall provision accrual on portfolio
(4) Explanation on the capitalized amount of borrowing costs included in the ending balance of
inventory
(5) Explanation on the current amortization amount of contract performance costs
11. Assets held for sale
In RMB
Item Ending book Impairment Ending bookbalance provision value Fair value
Estimated Estimated
disposal cost disposal time
Other explanation:
12. Non-current asset due within one year
In RMB
Item Ending balance Opening balance
(1) Creditors’ investment maturing within one year
□Applicable□Not applicable
(2) Other creditors’ investment maturing within one year
□Applicable□Not applicable
88深圳市深粮控股股份有限公司2025年半年度报告全文
13. Other current assets
In RMB
Item Ending balance Opening balance
Input tax to be deducted 71883764.30 111305418.60
Prepayment of income taxes 656064.29 1424165.18
Prepaid and deferred expense 172329.25 513701.48
Other 49957.06
Total 72762114.90 113243285.26
Other explanation:
14. Creditors’ investment
(1) Creditors’ investment
In RMB
Ending balance Opening balance
Item Book balance Impairment Book value Book balance Impairmentprovision provision Book value
Changes of impairment provision of creditors’ investment in current period
In RMB
Item Opening balance Current increase Current decrease Ending balance
(2) Important creditors’ investment at year-end
In RMB
Ending balance Beginning balance
Item Face Coupon Actual Maturity Overdue Face Coupon Actual Maturity Overdue
value rate rate date principal value rate rate date principal
(3) Accrual of impairment provision
In RMB
Phase I Phase II Phase III
Bad debts reserve Expected credit losses Expected credit losses for Expected credit losses for
over next 12 months the entire duration (without the entire duration (with
Total
credit impairment occurred) credit impairment occurred)
Balance on Jan. 1 2025
in the period
Classification basis and accrual ratio of bad debts reserve for each stage
(4) Creditors’ investment charged off in the period
In RMB
Item Amount charged off
Including important creditors’ investment charged off:
Explanation on creditors’ investment charged off:
Changes in book balance with significant changes in the current period's impairment provision
□Applicable□Not applicable
Other explanation:
89深圳市深粮控股股份有限公司2025年半年度报告全文
15. Other creditors’ investment
(1) Other creditors’ investment
In RMB
Accumulated
impairment
Opening Accrual Interest Change of fair Accumulated provisionItem balance interest adjustment value in the
Ending
period balance
Cost change of recognized in Note
fair value other
comprehensive
income
Changes in impairment provision of other creditors’ investments in the current period
In RMB
Item Opening balance Current increase Current decrease Ending balance
(2) Other creditors’ investment at year-end`
In RMB
Other Ending balance Beginning balance
creditors’ Face Coupon Actual Maturity Overdue Face Coupon Actual Maturity Overdue
item value rate rate date principal value rate rate date principal
(3) Accrual of impairment provision
In RMB
Phase I Phase II Phase III
Bad debts reserve Expected credit losses Expected credit losses for Expected credit losses for
over next 12 months the entire duration (without the entire duration (with
Total
credit impairment occurred) credit impairment occurred)
Balance on Jan. 1 2024
in the period
Classification basis and accrual ratio of bad debts reserve for each stage
(4) Other creditors’ investment charged off in the period
In RMB
Item Amount charged off
Including major other creditors’ investment charged off:
Explanation on other creditors’ investment charged off:
Changes in book balance with significant changes in the current period's impairment provision
□Applicable□Not applicable
Other explanation:
16. Other equity instrument investment
In RMB
Gains Losses Accumulated Accumulated Reasons for
recognized in recognized in gains losses Dividend designating
other other recognized in recognized in income fair value
Item Ending Opening comprehensive comprehensive other other recognized measurementbalance balance income for the income for the comprehensive comprehensive in this with changes
current period current period income at the income at the period recognized inend of this end of this other
period period comprehensive
90深圳市深粮控股股份有限公司2025年半年度报告全文
income
Equity instrument investment derecognized in current period
In RMB
Accumulated gains carried Accumulated losses carried
Item name Reason for de-recognition
forward to retained gains forward to retained gains
Sub-item disclosure of current non-tradable equity instrument investments
In RMB
Reasons for
Amount of designating fair Reasons for
other value transferring
Dividends Accumulated Accumulated comprehensive measurement
other
Item income gains losses income with changes
comprehensive
transferred to recognized in income to
retained other retained
earnings comprehensive earnings
income
Other explanation:
17. Long-term account receivable
(1) Long-term account receivable
In RMB
Ending balance Opening balance
Discount rate
Item Bad debts Bad debts
Book balance Book value Book balance Book value range
reserve reserve
(2) Accrued bad debts reserve
In RMB
Ending balance Opening balance
Category Book balance Bad debts reserve Book Book balance Bad debts reserve Book
Amount Ratio Amount Accrual value Amount Ratio Amount Accrual valueratio ratio
Including:
Including:
Bad debt reserve accrual on ral model of expected credit losses
In RMB
Phase I Phase II Phase III
Bad debts reserve Expected credit losses Expected credit losses for Expected credit losses for
over next 12 months the entire duration (without the entire duration (with
Total
credit impairment occurred) credit impairment occurred)
Balance on Jan. 1 2025
in the period
Classification basis and accrual ratio of bad debts reserve for each stage
(3) Bad debts reserve accrued recovered or reversed
In RMB
Amount changed in the period
Category Opening balance Recovered or Ending balanceAccrued reversed Written-off Other
91深圳市深粮控股股份有限公司2025年半年度报告全文
Important bad debts reserve recovered or reversed:
In RMB
Basis and rationality to
define the accrual ratio
Enterprise Recovered or reversed Reason for recovery Manner of reversal
of original bad debts
reserve
Other explanation:
(4) Long-term account receivable charged off in the period
In RMB
Item Amount charged off
Including major long-term account receivable charged off:
In RMB
Enterprise Nature Amount charged off Reason for charged Procedure of charged Resulted by relatedoff off transaction (Y/N)
Explanation on long-term account receivable charged off:
18. Long-term equipment
In RMB
Current changes (+/-)
Opening Opening Additi Capi Investment Other Other Cash Accrual O Ending Ending
Investee balance balance of onal tal gains comprehen equit dividend or of t balance balance of
(book value) impairment invest redu recognized sive y profit impairm h (book impairmentprovision ment ction under income chan announced ent e value) provisionequity adjustment ge to issued provision r
I. Joint venture
II. Associated enterprise
Shenzhen Duoxi
Equity Investment 702401
Fund Management 887461.14 -185060.12
Co. Ltd. .02
-
Zhuhai Hengxing Feed 32724440. 29684
Industrial Co. Ltd. 3039455.812 984.26
6
-
Shenzhen Shenyuan 11744987. 10506
Data Tech. Co. Ltd 1238205.918 781.24
4
-
45356888.40894
Subtotal 4462721.9
44166.52
-
45356888.40894
Total 4462721.9
44166.52
2
The recoverable amount is determined on the basis of the net amount after deducting disposal expenses from fair value
□Applicable□Not applicable
The recoverable amount is determined on the basis of the present value of expected future cash flows
□Applicable□Not applicable
Reasons for significant discrepancies between the aforementioned information and the information or external information used in
previous years' impairment testing
Reasons for significant discrepancies between the information used in the company's previous annual impairment tests and the
actual situation of the current year
Other explanation:
92深圳市深粮控股股份有限公司2025年半年度报告全文
19. Other non-current financial assets
In RMB
Item Ending balance Opening balance
Equity instrument investment 57500.00 57500.00
Total 57500.00 57500.00
Other explanation:
20. Investment real estate
(1) Measured at cost
□Applicable □Not applicable
In RMB
Item House and building Land use right Construction inprogress Total
I. Original book value
1.Opening balance 670655915.53 670655915.53
2.Current amount
increased 460020.86 460020.86
(1) Outsourcing
(2) Inventory\fixed
assets\construction in 460020.86 460020.86
process transfer-in
(3) Increased by
combination
3.Current amount
decreased 11088790.26 11088790.26
(1) Disposal 48512.96 48512.96
(2) Other transfer-out 11040277.30 11040277.30
4.Ending balance 660027146.13 660027146.13
II. Accumulated
depreciation and
accumulated
amortization
1.Opening balance 368580668.78 368580668.78
2.Current amount
increased 8550174.86 8550174.86
(1) Accrual or
amortization 8550174.86 8550174.86
3.Current amount
decreased 11086364.61 11086364.61
(1) Disposal 46087.31 46087.31
(2) Other transfer-out 11040277.30 11040277.30
4.Ending balance 366044479.03 366044479.03
III. Impairment
provision
1.Opening balance
2.Current amount
increased
(1) Accrual
3. Current amount
decreased
(1) Disposal
93深圳市深粮控股股份有限公司2025年半年度报告全文
(2) Other transfer-out
4.Ending balance
IV. Book value
1.Ending book value 293982667.10 293982667.10
2. Opening book value 302075246.75 302075246.75
The recoverable amount is determined on the basis of the net amount after deducting disposal expenses from fair value
□Applicable□Not applicable
The recoverable amount is determined on the basis of the present value of expected future cash flows
□Applicable□Not applicable
Reasons for significant discrepancies between the aforementioned information and the information or external information used in
previous years' impairment testing
Reasons for significant discrepancies between the information used in the company's previous annual impairment tests and the
actual situation of the current year
Other explanation:
(2) Measured at fair value
□Applicable□Not applicable
(3) Converted to investment real estate and measured at fair value
In RMB
Accounts before Reason for Approval Impact on Impact on otherItem conversion Amount conversion procedures gains/losses comprehensiveincome
(4) Investment real estate without property certificate completed
In RMB
Item Book value Reason for not obtaining property rights certificate
1st 7th- 20th floors of Dongguan No.1 Grain and Oil The joint inspection has not been completed
58568343.66
Headquarters temporarily
Office Building Rental Haizhifeng Part 959617.29 Remaining issues currently being followed up
Other explanation:
21. Fixed assets
In RMB
Item Ending balance Opening balance
Fixed assets 1996211372.88 2009520283.95
Total 1996211372.88 2009520283.95
(1) Fixed assets
In RMB
Item House and Machinery Transport Electronic andbuildings equipment equipment other equipment Total
I. Original book
value:
1.Opening
balance 1941461273.74 791741297.79 17305299.91 100915108.88 2851422980.32
2.Current
amount increased 25508578.45 10543843.18 3186229.31 39238650.94
(1) Purchase 5362719.55 1535457.42 6898176.97
(2) Construction 25508578.45 5181123.63 1650771.89 32340473.97
94深圳市深粮控股股份有限公司2025年半年度报告全文
in progress
transfer-in
(3) Increased by
combination
3.Current
amount decreased 10295116.88 282984.00 931881.85 11509982.73
(1) Disposal
or scrap 10174779.38 282984.00 931881.85 11389645.23
(2) Other decrease 120337.50 120337.50
4.Ending
balance 1966969852.19 791990024.09 17022315.91 103169456.34 2879151648.53
II. Accumulated
depreciation
1.Opening
balance 395620432.09 352024780.44 14857378.46 76831770.86 839334361.84
2.Current
amount increased 24296740.59 18453167.41 323799.99 5212811.33 48286519.32
(1) Accrual 24296740.59 18453167.41 323799.99 5212811.33 48286519.32
3.Current
amount decreased 6117680.41 268834.80 862424.83 7248940.04
(1) Disposal
or scrap 6069094.14 268834.80 862424.83 7200353.77
(2) Other decrease 48586.27 48586.27
4.Ending balance 419917172.68 364360267.44 14912343.65 81182157.36 880371941.13
III. Impairment
provision
1.Opening
balance 2558444.66 9889.87 2568334.53
2.Current
amount increased
(1) Accrual
3.Current
amount decreased
(1) Disposal
or scrap
4.Ending
balance 2558444.66 9889.87 2568334.53
IV. Book value
1.Ending book
value 1547052679.51 425071311.99 2109972.26 21977409.11 1996211372.88
2. Opening book
value 1545840841.65 437158072.69 2447921.45 24073448.15 2009520283.95
(2) Temporarily idle fixed assets
In RMB
Item Original book value Accumulated Impairmentdepreciation provision Book value Note
(3) Fixed assets leased out by operation
In RMB
Item Ending book value
(4) Fix assets without property certification held
In RMB
95深圳市深粮控股股份有限公司2025年半年度报告全文
Item Book value Reasons for without the propertycertification
Housing and buildings of Dongguan
Industrial and Trade 78716540.94 Under processing
Office building 15852075.94 Remaining issues currently beingfollowed
1st to 3rd floors 6th floor 21st to 23rd floors
of No. 1 Grain and Oil Headquarters 39082012.58
The joint inspection has not been
completed temporarily
The village collective address certificate
Food Processing and Logistics is required and communicating with the
Distribution Industrial Park(A2) 74134093.25 village committee regarding the issuance
of the document.Other explanation:
(5) Impairment testing of fixed assets
□Applicable□Not applicable
(6) Disposal of fixed assets
In RMB
Item Ending balance Opening balance
Other explanation:
22. Construction in progress
In RMB
Item Ending balance Opening balance
Construction in progress 48429826.06 39312847.70
Total 48429826.06 39312847.70
(1) Construction in progress
In RMB
Ending balance Opening balance
Item
Book balance Impairmentprovision Book value Book balance
Impairment
provision Book value
Dongguan grain
storage and
wharf matching 23025277.83 23025277.83 23185559.25 23185559.25
project
CDE storage of
Dongguan Food
Industrial Park 5937211.52 5937211.52 6281644.10 6281644.10
and wharf
mating projects
Low
Temperature
Warehouse
Renovation 13007149.07 13007149.07 3942246.16 3942246.16
Project of
Pinghu Grain
Depot
Precision
processing color
selection and
impurity 1061287.68 1061287.68
removal
equipment
96深圳市深粮控股股份有限公司2025年半年度报告全文
project
Powder
packaging
equipment 814388.06 814388.06
project
Other 11360761.02 4900573.38 6460187.64 8928295.83 4900573.38 4027722.45
Total 53330399.44 4900573.38 48429826.06 44213421.08 4900573.38 39312847.70
(2) Changes of major construction in progress
In RMB
Propo Includi
Othe rtion ng:of
Current r projec Accumu
amount Interest
Opening amount Transfer decre
of Capit
Item Budget -in fixed ased Ending t Prog
lated capitali capitali al
balance increase assets in the balance invest ress
capitaliz
ation of zation
zation resou
d Perio ment interest of
rate in rces
d in interest
Period
budge in
t Period
Dong
guan
grain
stora
ge
and 1242000 231855 25484 251851 4600 23025 90.55 90.5 372219 Other
wharf 000.00 59.25 871.56 32.12 20.86 277.83 % 5% 95.16
matc
hing
proje
ct
CDE
stora
ge of
Dong
guan
Food
Indus
trial 1087300 628164 68109 715534 59372 99.42 99.4 867305 Other
Park 000.00 4.10 09.27 1.85 11.52 % 2% 68.74
and
wharf
matin
g
proje
cts
Total 2329300 294672 32295 323404 4600 28962 123952
000.0003.35780.8373.9720.86489.35563.90
(3) Impairment provision of construction in progress
In RMB
Item Opening balance Current increase Current decrease Ending balance Reason for accrual
Other explanation:
(4) Impairment testing of construction in progress
□Applicable□Not applicable
(5) Engineering material
In RMB
97深圳市深粮控股股份有限公司2025年半年度报告全文
Ending balance Opening balance
Item Book balance Impairmentprovision Book value Book balance
Impairment
provision Book value
Other explanation:
23. Productive biological asset
(1) Measured at cost
□Applicable □Not applicable
In RMB
Item Plant Livestock Forestry Fisheries Total
I. Original book
value 416771.28 416771.28
1.Opening
balance
2.Current
amount increased
(1) Outsourcing
(2) Self-cultivate
3.Current
amount decreased
(1) Disposal
(2) Other
4.Ending
balance 416771.28 416771.28
II. Accumulated
depreciation
1.Opening
balance 67846.68 67846.68
2.Current
amount increased 4846.20 4846.20
(1) Accrual 4846.20 4846.20
3.Current
amount decreased
(1) Disposal
(2) Other
4.Ending
balance 72692.88 72692.88
III. Impairment
provision
1.Opening
balance
2.Current
amount increased
(1) Accrual
3.Current
amount decreased
(1) Disposal
(2) Other
4.Ending
balance
IV. Book value
98深圳市深粮控股股份有限公司2025年半年度报告全文
1.Ending book
value 344078.40 344078.40
2. Opening book
value 348924.60 348924.60
(2) Impairment testing of productive biological asset measured at cost model
□Applicable□Not applicable
(3) Productive biological asset measured at fair value
□Applicable□Not applicable
24. Oil and gas asset
□ Applicable□Not applicable
25. Right-of-use asset
(1) Right-of-use asset
99深圳市深粮控股股份有限公司2025年半年度报告全文
In RMB
Item House and building Land use rights Total
I. Original book value 195429902.49 2875969.39 198305871.88
1.Opening balance 195429902.49 2875969.39 198305871.88
2.Current amount
increased
3.Current amount
9055586.739055586.73
decreased
(1) Disposal 9055586.73 9055586.73
4.Ending balance 186374315.76 2875969.39 189250285.15
II. Accumulated depreciation
1.Opening balance 82054858.58 992973.13 83047831.71
2.Current amount
increased 21127859.56 116147.86 21244007.42
(1) Accrual 21127859.56 116147.86 21244007.42
3.Current amount
decreased 9288586.55 9288586.55
(1) Disposal 9055586.73 9055586.73
(2) Other decrease 232999.82 232999.82
4.Ending balance 93894131.59 1109120.99 95003252.58
III. Impairment provision
1.Opening balance
2.Current amount
increased
(1) Accrual
3.Current amount
decreased
(1) Disposal
4.Ending balance
IV. Book value
1.Ending book value 92480184.17 1766848.40 94247032.57
2. Opening book value 113375043.91 1882996.26 115258040.17
(2) Impairment testing of right-of-use assets
□Applicable□Not applicable
Other explanation:
26. Intangible assets
(1) Intangible assets
In RMB
Non-
Item Land use Patent patent Shop use Software Forest use Trademaright technolo rights usage rights rights rk rights Total
gy
I. Original
book value
1.Opening 587907374. 54891301. 3610487. 116819200. 22859104. 98073.3 786185542.
balance 86 41 37 84 98 2 78
2.Current
amount 672660.32 672660.32
increased
(1)101000.00101000.00
100深圳市深粮控股股份有限公司2025年半年度报告全文
Purchase
(2) Internal
R&D
(3)
Increased
by
combinatio
n
Other
increase 571660.32 571660.32
3.Current
amount 87522255.8 87529189.86933.96
decreased 6 2
(1)86122268.586122268.5
Disposal 6 6
(2) Other
decrease 1399987.30 6933.96 1406921.26
4.Ending 500385119. 54891301. 3610487. 117484927. 22859104. 98073.3 699329013.
balance 00 41 37 20 98 2 28
II.Accumulat
ed
depreciatio
n
1.Opening 144678876. 32459698. 1675382. 69123935.1 9229847.1 93727.6 257261466.
balance 08 26 19 6 6 2 47
2.Current
amount 15476944.86265572.56 826652.22 52639.91 7814036.97 515498.92 2544.22
increased 0
(1) Accrual 15347877.66265572.56 826652.22 52639.91 7814036.97 386431.80 2544.22
8
Other
increase 129067.12 129067.12
3.Current
amount 27024932.7 27153999.8129067.12
decreased 7 9
(1)25624945.425624945.4
Disposal 7 7
(3) Other
decrease 1399987.30 129067.12 1529054.42
4.Ending 123919515. 33286350. 1728022. 76937972.1 9616278.9 96271.8 245584411.
balance 87 48 10 3 6 4 38
III.Impairment
provision
1.Opening 5553283.5
balance 5553283.544
2.Current
amount
increased
(1) Accrual
3.Current
amount
decreased
(1)
Disposal
4.Ending 5553283.5
balance 5553283.544
IV. Book
value
1.Ending 376465603. 16051667. 1882465. 40546955.0 13242826. 1801.48 448191318.
101深圳市深粮控股股份有限公司2025年半年度报告全文
book value 13 39 27 7 02 36
2. Opening 443228498. 16051667. 1935105. 47695265.6 13629257. 523370792.
book value 4345.7078 39 18 8 82 77
Ratio of the intangible assets formed by internal R&D in balance of intangible assets at period-end
(2) Data resource recognized as intangible assets
□Applicable □Not applicable
In RMB
Data resource Data resource
Data resource
Item inventory self- inventory acquired Total
inventory outsourced
processed with other manners
(3) Land use rights without certificate of ownership
In RMB
Reasons for without the property
Item Book value
certification
Land use right 7849990.00 In Progress
Other explanation:
(4) Impairment testing of intangible assets
□Applicable□Not applicable
27. Goodwill
(1) Original book value of goodwill
In RMB
Investee or Current increased Current decreased
matters forming Opening balance Formed bybusiness Disposal Ending balancegoodwill combination
Total
(2) Impairment provision of goodwill
In RMB
Investee or Current increased Current decreased
matters forming Opening balance Ending balance
goodwill Accrual Disposal
Total
(3) Related information of asset group or asset group portfolio where goodwill is included
Component and basis of asset Consistent with previous
Name Operation segment and basis
group or asset group portfolio years(Y/N)
Changes in asset group or asset group portfolio
Objective fact and basis
Name Component before change Component after change
leading to change
Other explanation
102深圳市深粮控股股份有限公司2025年半年度报告全文
(4) Specific method of determining the recoverable amount
The recoverable amount is determined on the basis of the net amount after deducting disposal expenses from fair value
□Applicable ?Not applicable
The recoverable amount is determined on the basis of the present value of expected future cash flows
□Applicable□Not applicable
Reasons for significant discrepancies between the aforementioned information and the information or external information used in
previous years' impairment testing
Reasons for significant discrepancies between the information used in the company's previous annual impairment tests and the
actual situation of the current year
(5) Completion of performance commitments and corresponding impairment of goodwill
When goodwill is formed there is a performance commitment and the reporting period or the previous period is within the
performance commitment period
□Applicable□Not applicable
Other explanation:
28. Long-term expenses to be apportioned
In RMB
Item Opening balance Current amount Currentincreased amortization Other decreased Ending balance
Decoration fee 5869803.29 227813.70 1077478.72 5020138.27
Improvement
expenditure for fix 17166598.90 327865.24 2416281.20 9349.98 15068832.96
assets
Other engineering 2976786.49 18993.00 764029.24 2231750.25
Total 26013188.68 574671.94 4257789.16 9349.98 22320721.48
Other explanation:
29. Deferred income tax asset /Deferred income tax liabilities
(1) Deferred income tax assets not offset
In RMB
Ending balance Opening balance
Item Deductible temporary Deferred income tax Deductible temporary Deferred income tax
differences asset differences asset
Impairment provision
for assets 91722204.75 21766774.23 78886233.43 19113818.29
Unrealized profits in
internal transactions 1233076.04 305537.53 1955326.35 293298.96
Credit impairment loss 126919932.42 31956747.49 131272060.28 32427392.41
Lease liabilities 60074582.65 15018673.14 72583919.01 18145979.75
Total 279949795.86 69047732.39 284697539.07 69980489.41
(2) Deferred income tax liability not offset
In RMB
Item Ending balance Opening balance
Taxable temporary Deferred income tax Taxable temporary Deferred income tax
differences liabilities differences liabilities
Asset evaluation
appreciation of
enterprise combination 41153232.04 10288308.01 41980665.84 10495166.46
under different control
103深圳市深粮控股股份有限公司2025年半年度报告全文
Right-of-use asset 56670386.96 14167596.74 68309530.63 17077382.66
Total 97823619.00 24455904.75 110290196.47 27572549.12
(3) Deferred income tax assets and deferred income tax liabilities listed as net amount after offsetting
In RMB
Offsetting between the Ending balance of Trade-off between the Opening balance of
Item deferred income tax deferred income tax deferred income tax deferred income taxassets and liabilities assets or liabilities after assets and liabilities at assets or liabilities after
offsetting period-begin offsetting
Deferred income tax
asset 14167596.74 54880135.65 17077382.66 52903106.75
Deferred income tax
liabilities 14167596.74 10312520.01 17077382.66 10495166.46
(4) Details of unrecognized deferred income tax assets
In RMB
Item Ending balance Opening balance
Deductible temporary differences 175956969.18 151802527.41
Deductible loss 346623657.81 319287351.61
Total 522580626.99 471089879.02
(5) Deductible losses of unrecognized deferred income tax assets expiring in following years
In RMB
Year Ending balance Beginning balance Note
202554999442.3859047529.92
202619293465.0824075232.20
202732940016.7837011114.59
202891290525.9395247245.53
2029113417068.1281843220.20
203017652280.461592707.06
203111566491.6211566491.62
20325464367.446231412.69
20332672397.80
Total 346623657.81 319287351.61
Other explanation:
30. Other non-current assets
In RMB
Item Ending balance Opening balance
Book balance Impairmentprovision Book value Book balance
Impairment
provision Book value
Property to be
relocated 6691580.24 6691580.24 3523917.24 3523917.24
Prepaid for
engineer 2449577.55 2449577.55 2497360.73 2497360.73
Total 9141157.79 9141157.79 6021277.97 6021277.97
Other explanation:
31. Assets with restricted ownership or use rights
In RMB
Ending Beginning
Item Book Book value Restriction Restriction Book Book value Restriction Restrictionbalance type status balance type status
Monetary
fund 6953725.85 6953725.85
Guarantee
deposit 5569948.86 5569948.86
Guarantee
deposit
104深圳市深粮控股股份有限公司2025年半年度报告全文
credit credit
deposit deposit. etc
lawsuit
freezing
etc.Total 6953725.85 6953725.85 5569948.86 5569948.86
Other explanation:
32. Short-term loans
(1) By category
In RMB
Item Ending balance Opening balance
Loan in credit 1086982672.65 1484605101.05
Total 1086982672.65 1484605101.05
Explanation on category of short-term loans:
(2) Overdue and unpaid short-term loans
The overdue and unpaid short-term loans was 0.00 yuan at period-end including follow major amount:
In RMB
Borrower Ending balance Loan rate Overdue time Overdue interest
Other explanation:
33. Tradable financial liability
Item Ending balance Opening balance
Including:
Including:
Other explanation:
34. Derivative financial liability
In RMB
Item Ending balance Opening balance
Other explanation:
35. Note payable
In RMB
Category Ending balance Opening balance
Notes expiring at year-end not repaid was 0.00 yuan.
36. Account payable
(1) Account payable
In RMB
Item Ending balance Opening balance
Payment for goods 115098341.60 320908083.65
Account payable for engineer and
equipment 84007855.69 69278292.34
Other 66469894.38 2600723.24
Total 265576091.67 392787099.23
105深圳市深粮控股股份有限公司2025年半年度报告全文
(2) Major accounts payable with aging over one year or overdue major accounts payable
In RMB
Item Ending balance Reason for not repaying or carry-over
Shenzhen Municipal Engineering 16937860.59 The project has been completed but not
Corporation settled and the payment node stipulated inthe contract has not been reached.Guangdong Henghui Construction Co. Ltd. 18615952.92 There are disputes.Dalian Jiangong Mechanical and Electrical 13871408.71 Provision for unpaid funds for CDE
Installation Engineering Co. Ltd. warehouse equipment.Total 49425222.22
Other explanation:
37. Other account payable
In RMB
Item Ending balance Opening balance
Dividends payable 2933690.04 2933690.04
Other account payable 266190326.53 265387637.46
Total 269124016.57 268321327.50
(1) Interest payable
In RMB
Item Ending balance Opening balance
Important overdue and unpaid interest situation:
In RMB
Borrower Overdue amount Overdue reason
Other explanation:
(2) Dividends payable
In RMB
Item Ending balance Opening balance
Shenzhen Investment Management
Company 2690970.14 2690970.14
Untrusted shares 242719.90 242719.90
Total 2933690.04 2933690.04
Other explanations including important dividends payable that have not been paid for more than one year should disclose the
reasons for nonpayment:
(3) Other account payable
1) By nature
In RMB
Item Ending balance Opening balance
Accounts receivable and other expenses 212436348.95 181075520.70
Deposit and margin 52320251.51 71419422.77
Accrued expenses 897425.36 12452805.44
Others 536300.71 439888.55
Total 266190326.53 265387637.46
106深圳市深粮控股股份有限公司2025年半年度报告全文
2) Significant other account payable with aging over 1 year or overdue significant other account
payable
In RMB
Item Ending balance Reason for not repaying or carry-over
38. Accounts received in advance
(1) Accounts received in advance
In RMB
Item Ending balance Opening balance
Lease payment received in advance 1051041.33 1120939.23
Other 596675.76 568809.63
Total 1647717.09 1689748.86
(2) Significant accounts received in advance with aging over one year or overdue significant accounts
received in advance
In RMB
Item Ending balance Reason for not repaying or carry-over
In RMB
Item Change in amount Reason for change
39. Contract liabilities
In RMB
Item Ending balance Opening balance
Advance on sales 94627461.61 126590458.95
Total 94627461.61 126590458.95
Significant contract liabilities with aging over 1 year
In RMB
Item Ending balance Reason for not repaying or carry-over
Amount and reasons for important changes in book value in the period
In RMB
Item Change in amount Reason for change
40. Wage payable
(1) Wage payable
In RMB
Item Opening balance Current increased Current decreased Ending balance
I. Short-term
compensation 173956857.94 131316629.56 167999973.62 137273513.88
II. After-service
welfare-defined 6866982.09 15219163.58 12136922.45 9949223.22
contribution plans
III. Dismissed welfare 726674.60 21370.36 21370.36 726674.60
Total 181550514.63 146557163.50 180158266.43 147949411.70
(2) Short-term compensation
In RMB
107深圳市深粮控股股份有限公司2025年半年度报告全文
Item Opening balance Current increased Current decreased Ending balance
1. Wage bonus
allowance and subsidy 166282245.23 108789365.66 144818974.36 130252636.53
2. Employees’ welfare 368527.83 1955449.98 2231011.39 92966.42
3. Social insurance
charges 382704.75 3688253.91 3681314.57 389644.09
Including: medical
insurance premium 347882.18 3163162.12 3157488.01 353556.29
Industrial injury
insurance 6129.88 298900.96 298248.90 6781.94
premiums
Maternity
insurance 28692.69 226190.83 225577.66 29305.86
premiums
4. Housing public
reserve 51276.78 10245471.68 10224676.14 72072.32
5. Trade union fee and
education fee 6725952.35 2511763.85 2780559.50 6457156.70
Non-monetary welfare 141151.00 4126324.48 4263437.66 4037.82
Other short-term
compensation 5000.00 5000.00
Total 173956857.94 131316629.56 167999973.62 137273513.88
(3) Defined contribution plans
In RMB
Item Opening balance Current increased Current decreased Ending balance
1. Basic endowment
insurance premiums 56501.10 10096965.60 10077364.86 76101.84
2. Unemployment
insurance premiums 462426.24 461382.62 1043.62
3. Enterprise annuity 6810480.99 4659771.74 1598174.97 9872077.76
Total 6866982.09 15219163.58 12136922.45 9949223.22
Other explanation:
41. Taxes payable
In RMB
Item Ending balance Opening balance
VAT 2473922.43 2133176.38
Enterprise income tax 46737778.58 95215697.77
Personal income tax 4610328.61 1450305.23
Urban maintenance and construction tax 85590.29 113475.35
Property tax 6067709.89 1350095.44
Stamp tax 298712.39 1089799.33
Deed tax 664227.84 664227.84
Use tax of land 809878.64 138387.07
Educational surtax 68057.25 81630.62
Environment protection tax 2644.11 2644.32
Total 61818850.03 102239439.35
Other explanation:
42. Liability held for sale
In RMB
Item Ending balance Opening balance
Total 0.00 0.00
Other explanation:
108深圳市深粮控股股份有限公司2025年半年度报告全文
43. Non-current liabilities due within one year
In RMB
Item Ending balance Opening balance
Lease liabilities due within one year 40979285.84 42927367.21
Total 40979285.84 42927367.21
Other explanation:
44. Other current liabilities
In RMB
Item Ending balance Opening balance
Deferred output tax 4508204.90 8042645.47
Total 4508204.90 8042645.47
Changes of short-term bonds payable:
In RMB
Accrual Premium Breach
Bonds Face Issuance Bonds Amount Opening Issued in interest and Paid in Ending contractvalue date term issued balance the period by face discount the period balance or
value amortization not(Y/N)
Total
Other explanation:
45. Long-term loan
(1) By category
In RMB
Item Ending balance Opening balance
Explanation on category of long-term loans:
Other explanation including interest rate range:
46. Bonds payable
(1) Bonds payable
In RMB
Item Ending balance Opening balance
(2) Changes of bonds payable (not including preferred stock perpetual capital securities and other
financial instruments classified as financial liability)
In RMB
Accru Premi Breac
Coup Issuan Amou Openi Issued al
um
and Paid Endin h
Bonds Face Bonds ngvalue on ce nt in the
intere g contra
rate date term issued balanc period st by
discou in the
e face nt period
balanc ct or
e not(Y/
value amortization N)
Total —— ——
109深圳市深粮控股股份有限公司2025年半年度报告全文
(3) Description of convertible bonds
(4) Other financial instruments classified as financial liability
Basic information of the outstanding preferred stock and perpetual capital securities at period-end
Changes of outstanding preferred stock and perpetual capital securities at period-end
In RMB
Outstanding Period-beginning Current increased Current decreased Period-end
financial
instrument Amount Book value Amount Book value Amount Book value Amount Book value
Explanation on the basis for classifying other financial instrument into financial liability
Other explanation
47. Lease liability
In RMB
Item Ending balance Opening balance
Lease payments 103061010.64 126474987.95
Unrecognized financing charges -3956012.45 -5463119.98
Lease liabilities due within one year -41161127.82 -42927367.21
Total 57943870.37 78084500.76
Other explanation:
48. Long-term account payable
In RMB
Item Ending balance Opening balance
Special account payable 16695689.73 16636326.62
Total 16695689.73 16636326.62
(1) By nature
In RMB
Item Ending balance Opening balance
Other explanation:
(2) Special account payable
In RMB
Item Opening balance Current increased Current decreased Ending balance Causes
Depreciation funds
for fixed assets of
government reserve 16421849.53 59363.11 16481212.64
grain depots
Special funding for
research in the
grain public 207477.09 207477.09
welfare industry
Grain and oil
market monitoring
and early warning 7000.00 7000.00
subsidy
Total 16636326.62 59363.11 16695689.73
Other explanation:
110深圳市深粮控股股份有限公司2025年半年度报告全文
49. Long-term wage payable
(1) Long-term wage 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 Period Last Period
Scheme assets:
In RMB
Item Current Period Last Period
Net liability (assets) of the defined benefit plans
In RMB
Item Current Period Last Period
Content of defined benefit plans and relevant risks impact on future cash flow of the Company as well as times and uncertainty:
Major actuarial assumption and sensitivity analysis of defined benefit plans:
Other explanation:
50. Accrual liabilities
In RMB
Item Ending balance Opening balance Causes
Other explanation including relevant important assumptions and estimation:
51. Deferred income
In RMB
Item Opening balance Current increased Current decreased Ending balance Causes
Government
Government grant 79203615.99 3069731.62 76133884.37 subsidy related to
assets
Total 79203615.99 3069731.62 76133884.37 --
Other explanation:
52. Other non-current liabilities
In RMB
Item Ending balance Opening balance
Other explanation:
53. Share capital
In RMB
Current increased (decreased) +/-
Opening balance New shares Shares Ending balance
issued Bonus shares converted from Other Subtotalpublic reserve
Total shares 1152535254.00 1152535254.00
Other explanation:
111深圳市深粮控股股份有限公司2025年半年度报告全文
54. Other equity instrument
(1) Basic information of the outstanding preferred stock and perpetual capital securities at period-end
(2) Changes of outstanding preferred stock and perpetual capital securities at period-end
In RMB
Outstanding financial instrument Period-beginning Current increased Current decreased Period-endQuantity Book value Quantity Book value Quantity Book value Quantity Book value
Explanation on changes in other equity instrument reasons for changes and relevant accounting treatment basis:
Other explanation:
55. Capital reserve
In RMB
Item Opening balance Current increased Current decreased Ending balance
Capital premium (Share capital premium) 1263011835.48 1263011835.48
Other capital reserve 8896381.86 8896381.86
Total 1271908217.34 1271908217.34
Other instructions including changes in the current period reasons for changes:
56. Treasury stock
In RMB
Item Opening balance Current increased Current decreased Ending balance
Other explanation including changes and reason for changes:
57. Other comprehensive income
In RMB
Current period
Less: written in other Less: written in other
Account comprehensive comprehensive
Opening before income in previous income in previous Less: Attributable Attributable toItem Endingbalance income period and carried period and carried income to parent minority balance
tax in the forward to forward to retained tax company shareholders
period gains/losses in current earnings in current expense after tax after tax
period period
II. Other
comprehensive - -
income re- 620406. -65463.82 685870
classified into 95 .77
gains/losses
Exchange
differences on - -
translation of
foreign currency 620406. -65463.82 685870
financial 95 .77
statements
Total of other - -
comprehensive 620406. -65463.82 685870
income 95 .77
Other explanation including the active part of the hedging gains/losses of cash flow transfer to initial reorganization adjustment
for the arbitraged items:
58. Reasonable reserve
In RMB
Item Opening balance Current increased Current decreased Ending balance
112深圳市深粮控股股份有限公司2025年半年度报告全文
Work safety fee 1152617.76 71978.98 1080638.78
Total 1152617.76 71978.98 1080638.78
Other explanation including changes in current period and reason for changes:
59. Surplus public reserve
In RMB
Item Opening balance Current increased Current decreased Ending balance
Statutory surplus reserves 616729697.68 616729697.68
Total 616729697.68 616729697.68
Other explanation including changes in current period and reasons for changes:
60. Retained profit
In RMB
Item Current period Last period
Retained profit at last period-end before
adjustment 1877968762.99 1916792566.57
Retained profit at period-beginning after
adjustment 1877968762.99 172880288.10
Add: net profit attributable to shareholder of parent
company 176015525.87 129001273.55
Common stock dividends payable 172880288.10 230507050.80
Retained profit at period-end 1881104000.76 1825838200.83
Details about adjusting the retained profits at the beginning of the period:
1) Due to the retroactive adjustments to Accounting Standards for Business Enterprises and its relevant new regulations the
retained profit at the beginning of the period was affected by 0.00 yuan.
2) Due to changes in accounting policies the retained profit at the beginning of the period was affected by 0.00 yuan.
3) Due to major accounting error correction the retained profit at the beginning of the period was affected by 0.00 yuan
4) Due to changes in merge scope caused by the same control the retained profits at the beginning of the period was affected by
0.00 yuan.
5) Due to other adjustments the retained profits at the beginning of the period was affected by 0.00 yuan.
61. Operating revenue and operating cost
In RMB
Item Current period Last periodIncome Cost Income Cost
Main business 2380995921.98 1941297621.82 2415839496.41 1985218970.39
Other business 3231515.92 847514.29 613423.20 206792.93
Total 2384227437.90 1942145136.11 2416452919.61 1985425763.32
Information on breakdown of operation income and cost:
In RMB
Branch 1 Branch 2 Total
Category Operating Operating Operating Operating Operating Operating Operating Operating
revenue cost revenue cost revenue cost revenue cost
Business
types
Including:
Classificati
on by
business
area
Including:
113深圳市深粮控股股份有限公司2025年半年度报告全文
Market or
customer
type
Including:
Contract
types
Including:
Classificati
on by time
of goods
transfer
Including:
Classificati
on by
contract
duration
Including:
Classificati
on by sales
channel
Including:
Total
Information relating to performance obligations:
Item Time for Important Nature of the Is it the main Expected Types of quality
performance payment terms goods promised responsible refunds to assurance
obligations to transfer by person customers borne provided by the
the company by the company company and
related
obligations
Other explanations
Information related to the transaction price allocated to the remaining performance obligations:
At the end of this reporting period the contract has been signed but the income corresponding to unfulfilled or incomplete
performance obligations is 94627461.61 yuan which is expected to be recognized in the year of 2025.Related information of contract variable price:
Significant contract changes or significant transaction price adjustments
In RMB
Item Accounting treatment method Impact on income
Other explanation:
62. Tax and surcharge
In RMB
Item Current period Last period
Urban maintenance and construction tax 558488.19 732943.30
Education surcharge 427914.55 447916.95
Property tax 6030291.88 5647115.56
Use tax of land 983134.88 995148.54
Vehicle and vessel use tax 76244.89 12197.60
Stamp duty 789944.86 702590.30
Other 282049.61 131522.81
114深圳市深粮控股股份有限公司2025年半年度报告全文
Total 9148068.86 8669435.06
Other explanation:
63. Administration expenses
In RMB
Item Current period Last period
Labor and social security benefits 68048573.63 56814032.17
Depreciation and amortization of long-
term assets 20704572.10 22875890.10
Office expenses 2734065.83 2648095.32
Intermediary agency fees 2447676.25 2189633.97
Communication expense 767588.46 760746.70
Vehicle usage fee 475475.05 579738.34
Travelling expense 1239181.61 724417.01
Rental 16200.00 133328.88
Repairing expense 234333.21 312129.52
Low-value consumable 311.03 3924.22
Business hospitality 307633.92 299069.79
Other 4963966.38 7403442.99
Total 101939577.47 94744449.01
Other explanation:
64. Sales expense
In RMB
Item Current period Last period
Labor and social security benefits 42115079.76 46005597.00
Depreciation and amortization of long-
term assets 2943601.35 7978358.27
Office expenses 2169551.44 5154390.85
Sales service fee 5127547.02 6029769.66
Port storage and loading/unloading fees 1584.16 720210.49
Low value consumables and other loss
expenses 879315.37 1961226.16
Travel expenses 1580085.82 1111459.18
Business hospitality 484397.33 517485.12
Advertising expenses 122150.87 820363.78
Rental 30827.57 292107.15
Property insurance premium 81175.86 840821.33
Logistics and transportation costs 239131.85 344270.20
Sales commission 12494.53
Vehicle use fee 123924.22 86253.99
Other 4798653.56 1598513.78
Total 60709520.71 73460826.96
Other explanation:
65. R&D expenses
In RMB
Item Current period Last period
Labor and social security benefits 4508400.43 5116627.53
Direct investment 2305713.08 1699485.02
Depreciation and amortization 1650826.40 1573235.55
Entrusted R&D expense 461108.08 31654.72
Travel expense 372878.73 349424.09
Inspection and debugging expense 448208.19 250655.39
115深圳市深粮控股股份有限公司2025年半年度报告全文
Other expenses 446593.52 708633.77
Office expenses 14903.78 83555.14
Total 10208632.21 9813271.21
Other explanation:
66. Financial expense
In RMB
Item Current period Last period
Interest expenses 19155569.88 17092705.52
Less: interest income 406929.22 952349.13
Exchange gains/losses -37433.71 183430.87
Handling fee and others 330738.52 446174.46
Total 19041945.47 16769961.72
Other explanation:
67. Other income
In RMB
Sources Current period Last period
Government grant 3348104.77 5540994.27
Input tax deduction 501558.34 897627.62
Handling fees for withholding personal
income tax 336461.35 448072.44
Other 0.00 1509471.45
68. Net exposure hedge gains
In RMB
Item Current period Last period
Other explanation:
69. Income of fair value changes
In RMB
Sources Current period Last period
Other explanation:
70. Investment income
In RMB
Item Current period Last period
Long-term equity investment income
measured with equity method -4462721.92 -1722514.88
Investment income from the disposal of
long-term equity investment 1156849.46
Income from financial products 3933789.27
Total -4462721.92 3368123.85
Other explanation:
71. Credit impairment loss
In RMB
Item Current period Last period
Loss of bad debt of accounts receivable 249349.20 -53879.90
Loss of bad debt of other accounts 1014575.17 -15853.59
116深圳市深粮控股股份有限公司2025年半年度报告全文
receivable
Total 1263924.37 -69733.49
Other explanation:
72. Asset impairment loss
In RMB
Item Current period Last period
I. Inventory depreciation loss and
impairment loss of contract performance -42521010.08 -79774391.84
cost
Total -42521010.08 -79774391.84
Other explanation:
73. Income from disposal of assets
In RMB
Sources Currentperiod Last period
Gains from the disposal of non-current assets (disposal group) held for sale (losses shall be filled in
with “-”) 19967516.74 5219432.33
74. Non-operation income
Item Current Last Amount included in the current non-recurringperiod period gains/losses
Government grants 11250.00 11250.00
Gains from damage and scrapping of non-
current assets 26999.99 784.47 26999.99
Other 29151.54 61826.18 29151.54
Liquidated damages compensation income 79300.00 8536.00 79300.00
No payment required 1000.00
Total 146701.53 72146.65 146701.53
In RMB
Other explanation:
75. Non-operating expenditure
In RMB
Item Current period Last period Amount included in current non-recurring gains/ losses
External donations 100000.00 21613.38 100000.00
Loss of disposal of non-current assets 45422.67 24793.40 45422.67
Penalty expenses and liquidated damages 6236.50 3632.69 6236.50
Other 75927.79 20505.01 75927.79
Loss of scrap from inventories 71928.77 71928.77
Compensation payment 160000.00
Total 299515.73 230544.48 299515.73
Other explanation:
76. Income tax expense
(1) Income tax expense
In RMB
Item Current period Last period
Current income tax expenses 45549703.07 42746022.32
Deferred income tax expenses -2212397.91 -8529453.68
Total 43337305.16 34216568.64
117深圳市深粮控股股份有限公司2025年半年度报告全文
(2) Adjustment process of accounting profit and income tax expenses
In RMB
Item Current period
Total profit 219315576.44
Income tax expenses calculated by statutory/applicable tax rate 32897336.47
Impact from different tax rate applicable with subsidiaries -191076.58
Effect of adjusting income tax in the previous period 7412.16
Impact of non-taxable income -24144866.52
Impact of cost expenses and losses unable to be deducted 39979253.46
Impact of the use of a previously unrecognized deferred income
tax asset on deductible losses -7826420.08
Impact of unrecognized deferred income tax assets in current
period on deductible temporary differences or deductible losses 2615666.25
Income tax expenses 43337305.16
Other explanation:
77. Other comprehensive income
Refer to notes for details.
78. Items of cash flow statement
(1) Cash received with operating activities concerned
Cash received with other operating activities concerned
In RMB
Item Current period Last period
Intercourse funds and deposit 167279594.99 1281111970.63
Government grants 234873.15 1561534.17
Interest income 540453.34 611096.36
Other 5548924.52 4916809.72
Total 173603846.00 1288201410.88
Note of cash paid with other operating activities concerned:
Cash paid with other operating activities concerned
In RMB
Item Current period Last period
Intercourse funds and deposit 175723905.37 1067273655.24
Daily operating expenses 53387305.01 43643114.09
Other 1947940.25 5735732.19
Total 231059150.63 1116652501.52
Note of cash paid with other operating activities concerned:
(2) Cash with investment activities concerned
Cash received with other investment activities concerned
In RMB
Item Current period Last period
Significant cash received with other investment activities concerned:
In RMB
Item Current period Last period
Explanation on cash received with other investment activities concerned：
Cash paid with other investment activities concerned
In RMB
118深圳市深粮控股股份有限公司2025年半年度报告全文
Item Current period Last period
Significant cash paid with investment activities concerned
In RMB
Item Current period Last period
Cash paid with other operating activities concerned
(3) Cash with financing activities concerned
Cash received with other financing activities concerned
In RMB
Item Current period Last period
Note of cash received with other financing activities concerned:
Cash paid with other financing activities concerned
In RMB
Item Current period Last period
Operating lease paid 5323196.47 12238276.69
Total 5323196.47 12238276.69
Explanation on cash paid with other financing activities concerned:
Changes in liabilities arising from financing activities
□Applicable ?Not applicable
(4) Cash flow listed at net amount
Item Relevant facts Basis for being listed at netamount Financial impact
(5) Significant activities and financial impacts that do not involve current cash inflow and outflow but
affect the financial condition of the company or may affect the cash flow of the company in the
future
79. Supplementary information of cash flow statement
(1) Supplementary information of cash flow statement
In RMB
Supplementary information Current amount Last amount
1. Net profit adjusted to cash flow of
operation activities:
Net profit 175978271.28 130333842.49
Add: Impairment provision of assets 41283621.10 79844125.33
Depreciation of fixed assets
consumption of oil assets and depreciation 56850288.74 55522639.34
of productive biology assets
Depreciation of right-of-use
assets 21244007.42 11347720.63
Amortization of intangible assets 15713200.60 17124485.76
Amortization of long-term
deferred expenses 4257789.16 3949196.13
Loss from the disposal of fixed
assets intangible assets and other long- -19952880.86 -5219432.33
term assets (income is listed with “-”)
Losses on scrapping of fixedassets (income is listed with “- “) 15786.79 24008.93Loss from change of fair value(income is listed with “- “)Financial expenses (income is 19134024.49 17092597.32
119深圳市深粮控股股份有限公司2025年半年度报告全文
listed with “-”)
Investment loss (income is listed
with “-”) 4462721.92 -3368123.85
Decrease of deferred income tax
assets (increase is listed with “-”) -1882996.58 -8349197.50
Increase of deferred income tax
asset ((increase is listed with “-”) -184876.57 -180256.17
Decrease of inventory (increase
is listed with “-”) 526841580.03 -340587903.58
Decrease of operating receivable
accounts (increase is listed with “-”) 162945770.18 -84838140.10
Increase of operating payable
accounts (decrease is listed with “-”) -269427740.89 -31244947.41
Other
Net cash flow arising from
operating activities 737278566.81 -158549385.01
2. Material investment and financing not
involved in cash flow
Conversion of debt into capital
Convertible company bonds due
within one year
Financing lease of fixed assets
3. Net change of cash and cash equivalents:
Ending balance of cash 172849270.67 78234838.70
Less: beginning balance of cash 158935342.85 236745667.10
Add: ending balance of cash
equivalents
Less: beginning balance of cash
equivalents
Net increase of cash and cash
equivalents 13913927.82 -158510828.40
(2) Net cash paid for obtaining subsidiary in the Period
In RMB
Amount
Including:
Including
Including:
Other explanation:
(3) Net cash received by disposing subsidiaries in the Period
In RMB
Amount
Including:
Including:
Including:
Other explanation:
(4) Component of cash and cash equivalents
In RMB
Item Ending balance Opening balance
I. Cash 172849270.67 158935342.85
Including: Cash on hand 9345.67 9442.96
Bank deposit available for
payment at any time 170243105.14 158925899.89
Other monetary funds available
for payment at any time 2596819.86
Funds deposited with the central
120深圳市深粮控股股份有限公司2025年半年度报告全文
bank available for payment
Funds deposited with other
financial institutions
Funds lent to other financial
institutions
II. Cash equivalents
Including: bond investment maturing
within three months
III. Ending balance of cash and cash
equivalents 172849270.67 158935342.85
(5) Items with restricted application scope still belong to cash and cash equivalents
In RMB
Item Current amount Last amount Reason for still belonging tocash and cash equivalents
(6) Monetary funds not belonging to cash and cash equivalents
In RMB
Item Current amount Last amount Reason for not belonging tocash and cash equivalents
Monetary funds 6953725.85 9263948.38 Credit deposit litigationpreservation
Total 6953725.85 9263948.38
Other explanation:
(7) Explanation on other significant activities
80. Notes of changes of owners’ equity
Explain the name and adjusted amount in “Other” that have been adjusted to the ending balance of the previous year
81. Foreign currency monetary items
(1) Foreign currency monetary items
In RMB
Item Ending foreign currency balance Convert rate Ending RMB balance converted
Monetary fund 4062436.76
Including: USD 5897.62 7.1586 42218.71
EURO
HKD 4408617.23 0.9119 4020218.05
Account receivable 2212863.32
Including: USD 267214.66 7.1586 1912882.87
EURO
HKD 328962.00 0.9119 299980.45
Long-term borrow
Including: USD
EURO
HKD
Other explanation:
121深圳市深粮控股股份有限公司2025年半年度报告全文
(2) Explanation on overseas operating entities including disclosure of their main overseas operating
location accounting currency and selection criteria for important overseas operating entities. If the
accounting currency changes the reasons should also be disclosed.□ Applicable □ Not applicable
82. Lease
(1) The company as leaser
□Applicable □Not applicable
Variable lease payments not included in the measurement of lease liabilities
□Applicable □ Not applicable
Lease expenses for short-term leases or low-value asset leases with simplified treatment
□Applicable □Not applicable
Short-term lease 43458540.73
Low-value asset lease 252486.44
Variable lease payments not included in the measurement of lease liabilities -
Total 43711027.17
Circumstances involving sale and leaseback transactions
(2) The company as leasee
Operating lease with the company as leasee
□Applicable □Not applicable
In RMB
Including: income related to variable
Item Lease income lease payments not included in lease
payments
Lease income 65913018.03
Total 65913018.03
Financing lease with the company as leasee
□Applicable□Not applicable
Annual lease receipts not discounted in the next five years
□Applicable□Not applicable
Adjustment table for lease receipts not discounted and net lease investments
(3) Recognize gains/losses from financing lease as producer or dealer
□Applicable□Not applicable
83. Data resource
84. Others
VIII. R&D expenditure
In RMB
Item Current period Last period
Labor and social security benefits 4508400.43 4677082.95
Direct input 2305713.08 1648913.98
122深圳市深粮控股股份有限公司2025年半年度报告全文
Depreciation and amortization 1650826.40 1622308.36
Outsourced R&D expenditures 461108.08 31654.72
Travel expenses 372878.73 349424.09
Inspection and commissioning fees 448208.19 445254.60
Other expenses 446593.52 392222.82
Office expenses 14903.78 371605.05
Total 10208632.21 9538466.57
Including: expensed R&D expenditures 10208632.21 9538466.57
1. R&D items that meet capitalization conditions
In RMB
Current increase Current decrease
Item Beginning Internal
Recognized Carried Ending
balance development Other as forward to balance
expenditure intangible currentassets gains/losses
Total
Major capitalized R&D items
Expected way of Specific basis for
Items R&D progress Estimated Starting point ofcompletion time generating startingeconomic benefits capitalization capitalization
Impairment provision for R&D cost
In RMB
Item Beginning balance Current increase Current decrease Ending balance Impairment test
2. Important outsourced projects under research
Item Expected way of generating economic The criteria and specific basis forbenefits determining capitalization or expensing
Other explanation:
IX. Changes in consolidation range
1. Enterprise combination not under the same control
(1) Enterprise combination not under the same control
In RMB
Ac Time point Cost of Ratio of Acquired Net profit of
qui for equity equity equity way Equity
Purch Standard to Income of acquiree
obtained asing determine the from purchasing
acquiree from
ree obtained obtained obtained way date purchasing date date to period-end
purchasing date to
period-end
Other explanation:
(2) Combination cost and goodwill
In RMB
Consolidation cost
--Cash
--Fair value of non-cash assets
--Fair value of debts issued or assumed
--Fair value of equity securities issued
-- Fair value of contingent consideration
--Fair value of the equity prior to the purchasing date
--Other
123深圳市深粮控股股份有限公司2025年半年度报告全文
Total combination cost
Less: shares of fair value of identifiable net assets acquired
Portion of goodwill/combination cost less than the shares of fair
value of identifiable net assets acquired
Explanation on the method for determining the fair value of combination costs
Explanation on contingent considerations and their changes:
Main reasons for the formation of large goodwill
Other explanation:
(3) Identifiable assets and liabilities of the acquiree on purchasing date
In RMB
Fair value on purchasing date Book value on purchasing date
Assets:
Monetary funds
Accounts receivable
Inventory
Fixed assets
Intangible assets
Liability:
Loan
Accounts payable
Deferred tax liabilities
Net assets
Less: Minority interests
Net assets acquired
Determination method for fair value of the identifiable assets and liabilities:
Contingent liabilities assumed by the acquiree in enterprise combination:
Other explanation:
(4) Gains/losses arising from the equity held before purchasing date which are re-measured at fair value
Whether there is any transaction that achieves enterprise combination through multiple transactions and obtains control during the
reporting period or not
□Yes □No
(5) Explanation on failing to reasonably determine the combination consideration or the fair value of
identifiable assets and liabilities of the acquiree on the purchasing date or at the combination period-
end
(6) Other explanation
2. Business combination under the same control
(1) Business combination under the same control in the Period
In RMB
A Equity
cq ratio
Basis of Standard to
obtained enterprise
Com determine Income of the acquiree Net profit of the acquiree Income of the Net profit of the
ui combination binat the from the combination from the combination acquiree during acquiree during
re in under the same ion combination period-begin to the period-begin to the the comparison the comparison
e combinati control date date combination date combination date period periodon
Other explanation:
124深圳市深粮控股股份有限公司2025年半年度报告全文
(2) Combination cost
In RMB
Combination cost
--Cash
-- Book value of non-cash assets
-- Book value of debts issued or assumed
-- Face value of equity securities issued
--Contingent consideration
Explanation on contingent consideration and its changes:
Other explanation:
(3) Book value of the assets and liabilities of the acquiree on combination date
In RMB
Combination date Ending balance of last period
Assets:
Monetary funds
Account receivable
Inventory
Fixed assets
Intangible assets
Liability:
Loan
Account payable
Net assets
Less: Minority interests
Net assets acquired
Contingent liability of the combined party assumed by the Company during combination:
Other explanation:
3. Reverse 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:
4. Disposal of subsidiaries
Whether there is any situation where a single disposal of investment in a subsidiary result in loss of control or not
□Yes □No
Whether there is any situation where investments in subsidiaries are disposed by steps through multiple transactions and control is
lost in the current period or not
□Yes □No
5. Other reasons for changes in consolidation range
Consolidation scope changes caused by other reasons (e.g. establish new subsidiaries liquidate subsidiaries) and the related
circumstances:
125深圳市深粮控股股份有限公司2025年半年度报告全文
6. Other
X. Equity in other entities
1. Equity in subsidiaries
(1) Membership of enterprise group
126深圳市深粮控股股份有限公司2025年半年度报告全文
Shareholding
Subsidiary Registere Main place Registratiod capital of operation n place Business nature
ratio
Dire Indir Acquisition way
ctly ectly
SZCG 1530000 Shenzhen Shenzhen Grain & oil trading 100. Combine under the same000.00 City City 00% control
Hualian Grain & 1000000 Shenzhen Shenzhen Grain & oil trading 100. Combine under the sameOil 00.00 City City 00% control
Shenzhen Flour 3000000 Shenzhen Shenzhen0.00 City City Flour processing
100. Combine under the same
00% control
Shenliang Quality 8000000 Shenzhen Shenzhen 100. Combine under the same
Inspection .00 City City Inspection 00% control
Hainan Grain and 1000000
Oil 0.00 Haikou City
Haikou
City Feed production
100. Combine under the same
00% control
Doximi 1000000 Shenzhen Shenzhen E-commerce 100. Combine under the same0.00 City City 00% control
Big Kitchen 1000000 Shenzhen Shenzhen Sales and processing of grain oil and 100. Combine under the same0.00 City City relevant products 00% control
Yingkou Storage 1000000 Yingkou Yingkou.00 City City Storage
100. Combine under the same
00% control
Cold Chain 1000000 Shenzhen Shenzhen
Logistic 0.00 City City On-line operation of fresh food
100. Combine under the same
00% control
Shenliang 9500000 Shenzhen Shenzhen
Property .00 City City Property development and management
100. Combine under the same
00% control
International 2210000 Dongguan Dongguan
Food 00.00 City City Port operation food production
100. Combine under the same
00% control
Dongguan Grain 1000000 Dongguan Dongguan
and Oil 00.00 City City Food production
100. Combine under the same
00% control
Dongguan 2980000 Dongguan Dongguan
Logistics 00.00 City City Storage logistics
49.0 51.0 Combine under the same
0% 0% control
Shuangyashan 1000000 Shuangyasha Shuangyas Construction of food base and development 100. Combine under the same00.00 n City han City of related complementary facilities 00% control
Shenliang 3000000 Shenzhen Shenzhen 51.0
Hongjun 0.00 City City Catering 0% Establishment
Dongguan 1000000 Dongguan Dongguan 100.Hualian 0.00 City City Grain and oil trade 00% Establishment
Shenliang
Property 5000000 Shenzhen Shenzhen 100.Management .00 City City
Property management 00% Establishment
Shenbao 2074513 Shenzhen Shenzhen 100.Huacheng 00.00 City City Manufacturing 00% Establishment
Wuyuan Ju Fang 2900000 Shangrao Shangrao 100.Yong 00.00 City City Manufacturing 00% Establishment
Huizhou Shenbao 6000000 Huizhou Huizhou0.00 City City Comprehensive businesses
100.
00% Establishment
Shenshenbao 5000000 Shenzhen Shenzhen
Investment 0.00 City City Investment management
100.
00% Establishment
Shenbao Tea 1500000 Shenzhen Shenzhen 100.Culture 0.00 City City Commercial trade 00% Establishment
Shenliang Hongli 5000000 Hangzhou Hangzhou0.00 City City Grain and oil wholesale
100.
00% Establishment
Fuhaitang 1000000 Hangzhou Hangzhou
Catering .00 City City Catering
100.
00% Establishment
Fuhaitang
Ecology 2000000 Hangzhou Hangzhou 100. Business combination not
Technology .00 City City
Tea planting production and sales 00% under the same control
Shenbao Rock 2070000 Wuyishan Wuyishan
Tea 0.00 City City Manufacturing
100.
00% Establishment
Pu’er Tea Supply 2000000
Chain 0.00 Pu’er City Pu’er City Wholesale business
100.
00% Establishment
Shenliang Food 30150000.00 Pu’er City Pu’er City Manufacturing
100.
00% Establishment
Huizhou 5000000 Huizhou Shenzhen 100.Shenliang Food .00 City City Wholesale business 00% Establishment
Xingye Food 500000.0 Hong Kong
Hong
0 (China) Kong Wholesale business
100. Business combination
(China) 00% under the same control
Intelligent 1000000 Shenzhen Shenzhen 100.Storage Warehouse logistics Establishment0.00 City City 00%
Explanation on shareholding ratio in subsidiaries different from ratio of voting right:
Explanation on the basis for controlling the investee with half or below voting rights held and without controlling the investee or
explanation on the basis for not controlling the investee with over half voting rights:
Explanation on the basis for control the important structured entities included in the consolidation scope:
Basis for determining whether the company is an agent or consignor:
127深圳市深粮控股股份有限公司2025年半年度报告全文
Other explanation:
(2) Important non-wholly-owned subsidiary
In RMB
Subsidiary Shareholding ratio of
Gains/losses Dividend announced to
minority shareholders attributable to minority distribute for minority
Ending equity of
in the Period in the Period minority
Explanation on the situation where the shareholding ratio of minority shareholders is different from the voting right ratio of minority
shareholders:
Other explanation:
(3) Main financial information of the important non-wholly-owned subsidiaries
In RMB
Ending balance Opening balance
Subsi Curre Non-
diary nt current Total
Current Non- Total Curre Non-
liabiliti current liabilit nt current Total
Current Non- Total
liabiliti current liabilit
assets assets assets es liabilities ies assets assets assets es liabilities ies
In RMB
Current Period Last Period
Subsi
diary Operating Net
Total Total
revenue profit comprehensive
Cash flow from Operating Net Cash flow from
income operation activity revenue profit
comprehensive
income operation activity
Other explanation:
(4) Significant restrictions on the use of enterprise group assets and the repayment of debts of the
enterprise group
(5) Financial or other support offered to the structured entities included in consolidated financial
statements
Other explanation:
2. Transactions where the share of owner’s equity in a subsidiary change while the subsidiary is still
controlled
(1) Explanation on changes in owner’s equity shares in subsidiary
(2) Impact of such transaction on equity of minority interests and owners’ equity attributable to parent
company
In RMB
Purchase cost/disposal consideration
--Cash
--Fair value of non-cash assets
Total of purchase cost/disposal consideration
Less: Subsidiary’s share of net assets calculated in terms of
the proportion of acquired/disposed equity
Difference
Including: Adjust capital reserve
Adjust surplus reserve
Adjust undistributed profit
Other explanation
128深圳市深粮控股股份有限公司2025年半年度报告全文
3. Equity in joint venture and associated enterprise
(1) Important joint venture or associated enterprise
Shareholding ratio Accounting
Joint treatment on
venture/Associ Main place of Registration investment in
ated enterprise operation place
Business nature Directly Indirectly joint venture
and associated
enterprise
Zhuhai
Hengxing Feed Aquatic fee and
Industrial Co. Zhuhai Zhuhai animal fee 40.00% Equity method
Ltd.Description on situation where the shareholding ratio in joint ventures or associated enterprises is different from the ratio of voting
rights:
Description on the basis for holding less than 20% of voting rights but having significant influence or holding 20% or more of
voting rights but having no significant influence.
(2) Main financial information of important joint venture
In RMB
Ending balance/Current period Opening balance/Last period
Current assets
Including: cash and
cash equivalents
Non-current assets
Total assets
Current liabilities
Non-current liabilities
Total liabilities
Minority interests
Shareholders’ equity
attributable to parent
company
Share of net assets
calculated in terms of
shareholding ratio
Adjustment items
--Goodwill
--Unrealized profit of
internal trading
-- Other
Book value of equity
investment in joint
venture
Fair value of the equity
investment in joint
ventures with public
offers concerned
Operating revenue
Financial expenses
Income tax expenses
Net profit
Net profit of
discontinuing
operation
Other comprehensive
income
129深圳市深粮控股股份有限公司2025年半年度报告全文
Total comprehensive
income
Dividends received
from joint venture in
the period
Other explanation
(3) Main financial information of important associated enterprises
In RMB
Opening balance/Last period Opening balance/Last period
Zhuhai Hengxing Feed Industrial Co. Ltd. Zhuhai Hengxing Feed Industrial Co. Ltd.Current assets 192979381.88 178447054.01
Non-current assets 19811802.74 20408430.87
Total assets 212791184.62 198855484.88
Current liabilities 111018241.96 89109413.45
Non-current liabilities 27737327.24 28373574.24
Total liabilities 138755569.20 117482987.69
Net asset 74035615.42 81372497.19
Minority interests
Equity attributable to
shareholder of parent 74035615.42 81372497.19
company
Share of net assets
measured in terms of 29614246.17 32548998.88
shareholding
Adjustment 70738.09 175441.24
--Goodwill
--Unrealized profit of
internal trading
-- Other
Book value of equity
investment in 29684984.26 32724440.12
associated enterprise
Fair value of the equity
investment of
associated enterprise
with public offers
concerned
Operating revenue 84662144.19 151719295.67
Net profit -7598639.64 1286687.52
Net profit of
discontinuing operation
Other comprehensive
income
Total comprehensive
income -7598639.64 1286687.52
Dividends received
from associated
enterprise in the year
Other explanation
(4) Summary of financial information of unimportant joint venture and associated enterprises
In RMB
Ending balance/Current period Opening balance/Last period
Joint venture:
Amount calculated in terms of
shareholding ratio
130深圳市深粮控股股份有限公司2025年半年度报告全文
Associated enterprise:
Total book value of investment 11209182.26 12632448.32
Total amount calculated in terms of
shareholding ratio
--Net profit -1423266.05 -2425593.45
--Total comprehensive income -1423266.05 -2425593.45
Other explanation
(5) Major limitation on capital transfer ability to the Company from joint venture or associated
enterprise
(6) Excess loss occurred in joint venture or associated enterprise
In RMB
Derecognized losses not
Joint venture/Associated Accumulated derecognized recognized in the Period (or Accumulated derecognized
enterprise losses net profit enjoyed in the losses at period-end
Period)
Other explanation
(7) Unrecognized commitment related to joint venture investment
(8) Intangible liabilities related to joint venture or associated enterprise investment
4. Major joint operation
Name Main place ofoperation Registration place Business nature
Shareholding ratio/ shares enjoyed
Directly In-directly
Explanation on situation where shareholding ratio or shares enjoyed in joint operation is different from voting right ratio in joint
operation:
Explanation on the classification basis of joint operation in case the entity of joint operation is the separate entity:
Other explanation
5. Equity in structured entities not included in the scope of consolidated financial statements
Explanation:
6. Other
XI. Government grant
1. Government grant recognized at report ending in terms of amount receivable
□Applicable□Not applicable
Reasons for not receiving the expected amount of government grants at the expected time point
□Applicable□Not applicable
2. Liabilities involved with government grant
□Applicable □Not applicable
In RMB
Current Amount
increase in booked into Amount carried
Other
Item Opening balance changes in Asset/incomegovernment non-business forward to other current Ending balanceincome in income relatedgrant current period period
Deferred
income 79203615.99 3069731.62 76133884.37 Asset related
131深圳市深粮控股股份有限公司2025年半年度报告全文
3. Government grant booked into current gains/losses
□Applicable □Not applicable
In RMB
Accounting title Current period Last period
Other revenue 3308104.77 5540994.27
Other explanation:
XII. Risk related with financial instrument
1. Various risks arising from financial instruments
The company’s main financial instruments include monetary funds notes receivable accounts receivable other receivables other
current assets trading financial assets other non-current financial assets accounts payable other payables short-term borrowings
non-current liabilities due within one year and lease liabilities. The detailed information of various financial instruments has been
disclosed in the relevant notes. The risks associated with these financial instruments as well as the risk management policies adopted
by the company to reduce these risks are described below. The management of the company manages and monitors these risk
exposures to ensure that the aforementioned risks are controlled within a limited range.
(1) Risk management objectives and policies
The main risks caused by the company’s financial instruments are credit risk liquidity risk and market risk (including exchange rate
risk interest rate risk and commodity price risk).The goal of the company’s risk management is to strike an appropriate balance between risk and return striving to reduce the adverse
impact of financial risks on our financial performance. Based on this risk management objective the company has developed a risk
management policy to identify and analyze the risks we face set appropriate acceptable levels of risks and design corresponding
internal control procedures to monitor our risk level. The company will regularly review these risk management policies and related
internal control systems to adapt to market conditions or changes in our business activities. The internal audit department of the
company also regularly or randomly checks whether the implementation of the internal control system complies with risk
management policies.The board of directors is responsible for planning and establishing the company’s risk management structure formulating the
company’s risk management policies and related guidelines and supervising the implementation of risk management measures. The
company has developed risk management policies to identify and analyze the risks we face. These risk management policies clearly
define specific risks and cover various aspects such as market risk credit risk and liquidity risk management. The company regularly
evaluates changes in the market environment and our business activities to determine whether to update our risk management
policies and systems. The risk management of the company is carried out by relevant departments in accordance with the policies
approved by the board of directors. These departments identify evaluate and mitigate related risks through close cooperation with
other business departments of the company.the company diversifies investment and business portfolio appropriately to diversify financial instrument risks and reduces risks
concentrated in a single industry specific regions or specific counterparties by formulating corresponding risk management policies.
1) Credit risk
Credit risk refers to the risk of a financial loss caused by the counter party’s failure to fulfill its contractual obligations.Credit risks of the Company arise mainly from monetary funds note receivable account receivable and other receivable.The company’s bank deposits are mainly deposited in state-owned banks and other large and medium-sized listed banks and we
132深圳市深粮控股股份有限公司2025年半年度报告全文
anticipate that there is no significant credit risk associated with bank deposits.For notes receivable accounts receivable and other receivables the company has established relevant policies to control credit risk
exposure. The company evaluates the credit qualifications of customers based on their financial status credit records and other
factors such as current market conditions and sets corresponding credit periods. The company will regularly monitor customer credit
records. For customers with poor credit records we will use written reminders shorten or cancel credit periods etc. to ensure that our
overall credit risk is within a controllable range.The debtors of the company’s accounts receivable are customers distributed across different industries and regions. the company
continuously conducts credit assessments on the financial condition of accounts receivable and purchases credit guarantee insurance
when appropriate.The maximum credit risk exposure that the company is exposed to is the carrying amount of each financial asset on the balance sheet.the company has not provided any other guarantees that may expose the company to credit risk.Among the accounts receivable of the company the accounts receivable of the top five customers account for 62.62%.
2) Liquidity risk
Liquidity risk refers to the risk of a shortage of funds encountered by the company when fulfilling its obligations to settle cash or
other financial assets.When managing liquidity risk the company maintains cash and cash equivalents that the management deems sufficient and monitors
them to meet the company’s operational needs and reduce the impact of cash flow fluctuations. The management of the company
monitors the use of bank loans and ensures compliance with loan agreements. Simultaneously obtain commitments from major
financial institutions to provide sufficient reserve funds to meet both short-term and long-term funding needs.
3) Market risk
The market risk of financial instruments refers to the risk of fluctuations in the fair value or future cash flows of financial instruments
due to market price changes including interest rate risk exchange rate risk and other price risks.Interest rate risk
Interest rate risk refers to the risk of fluctuations in the fair value or future cash flows of financial instruments due to changes in
market interest rates. Interest rate risk can arise from both confirmed interest-bearing financial instruments and unconfirmed financial
instruments (such as certain loan commitments).Financial liabilities with floating rate expose the company to cash flow interest rate risk while financial liabilities with fixed rate
expose the company to fair value interest rate risk. The company determines the relative ratio of fixed and floating rate contracts
based on the market environment at that time and maintains an appropriate combination of fixed and floating rate instruments
through regular review and supervision.The company closely monitors the impact of interest rate changes on our interest rate risk. The company currently does not adopt an
interest rate hedging policy. But the management is responsible for monitoring interest rate risk and will consider hedging significant
interest rate risks when necessary. An increase in interest rates will increase the cost of new interest-bearing debt and the interest
expenses on floating interest-bearing debt that the company has not yet paid off and will have a significant adverse impact on the
company's financial performance. Management will make timely adjustments based on the latest market conditions which may
involve arranging interest rate swaps to reduce interest rate risk.
(4) Exchange rate risk
Exchange rate risk refers to the risk of fluctuations in the fair value or future cash flows of financial instruments due to changes in
133深圳市深粮控股股份有限公司2025年半年度报告全文
foreign exchange rates. Exchange rate risk may arise from financial instruments denominated in foreign currencies other than the
accounting base currency.The exchange rate risk mainly lies in the impact of foreign exchange rate fluctuations on the company's financial position and cash
flows. In addition to the subsidiaries established in Hong Kong holding assets denominated in Hong Kong dollars as the settlement
currency the company has only a small amount of investment business in the Hong Kong market. The proportion of the company’s
foreign currency-denominated assets and liabilities in the overall assets and liabilities is not significant. Therefore the company
believes that the exchange rate risk it faces is not significant.The company closely monitors the impact of exchange rate changes on its exchange rate risk. Currently the company has not taken
any measures to avoid exchange rate risks. However the management is responsible for monitoring exchange rate risks and will
consider hedging significant exchange rate risks when necessary.
(2) Capital management
The goal of the company’s capital management policy is to ensure that we can continue to operate provide returns to shareholders
and benefit other stakeholders while maintaining the optimal capital structure to reduce capital costs.In order to maintain or adjust its capital structure the company may adjust its financing methods adjust the amount of dividends paid
to shareholders return capital to shareholders issue new shares and other equity instruments or sell assets to reduce debt.The company monitors its capital structure based on the asset liability ratio (total liabilities divided by total assets).
2. Hedge
(1) Risk management for hedge business
□Applicable□Not applicable
(2) The company conducted eligible hedging business and applied hedging accounting
In RMB
Adjustment of Sources of hedge Impact of hedge
Book value related to accumulated fair value effectiveness and hedge accounting on the
Item hedged items and hedging included in the ineffectiveness company’s financial
hedging instruments recognized book value
statements
of hedged items
Type of hedge risk
Type of hedge
Other explanation
(3) The company carried out hedging business for risk management and expected to achieve risk
management goals but has not applied hedge accounting
□Applicable□Not applicable
3. Financial assets
(1) By transfer manner
□Applicable ?Not applicable
134深圳市深粮控股股份有限公司2025年半年度报告全文
(2) Financial assets derecognized due to transfer
□Applicable ?Not applicable
(3) Financial assets which are transferred and involved continuously
□Applicable ?Not applicable
Other explanation
XIII. Disclosure of fair value
1. Ending fair value of the assets and liabilities measured at fair value
In RMB
Item Ending fair valueFirst-order Second-order Third-order Total
1. Sustaining measured
at fair value -- -- -- --
(2) Other equity
investment 57500.00 57500.00
2. Non-sustaining
measured at fair value -- -- -- --
2. Basis for recognizing the market price of items sustaining and non-sustaining measured at fair value
on first-order
3. Valuation technique qualitative and quantitative information on major parameters for items
sustaining and non-sustaining measured at fair value on second-order
4. Valuation technique qualitative and quantitative information on major parameters for items
sustaining and non-sustaining measured at fair value on third-order
5. Adjustment information and sensitivity analysis of unobservable parameters for items sustaining
and non-sustaining measured at fair value on third-order
6. Reasons for conversion and policies for conversion time point of items sustaining measured at fair
value in case there is conversion between all levels
7. Changes of valuation technique in the Period and reasons
8. Financial assets and liabilities not measured at fair value
9. Other
XIV. Related party and related transactions
1. Parent company
Registra Registe Ratio of Ratio of voting
Parent company tion Business nature red shareholding on right on the
address capital the Company Company
Shenzhen Shenzhe Food distribution platform and safety infrastructure 50000Agricultural Power n construction domestic trade industrial investment 00000. 63.79% 72.02%Group Co. Ltd. and operation etc. 00
Explanation on parent company of the Company
The ultimate controller of the Company is Shenzhen Municipal People’s Government State-owned Assets Supervision &
Administration Commission
135深圳市深粮控股股份有限公司2025年半年度报告全文
Other explanation:
2. Subsidiaries of the Company
For more details of subsidiaries of the Company please refer to “Note VII.1”.
3. Joint venture and associated enterprise of the Company
For more details of important joint venture and associated enterprise of the Company please refer to “Note VII.4”.Other joint venture and associated enterprise that have related transaction with the Company in the Period or that have balance
with the Company arising from transaction in last period are described as follows:
Joint venture/Associated enterprise Relationship with the enterprise
Other explanation
4. Other related parties
Other related parties Relationship between other related parties and the company
Shenzhen Agricultural Products Group Co. Ltd Holding subsidiary of parent company
Shenzhen Zhenchu Supply Chain Co. Ltd. Holding subsidiary of parent company
Guangxi Higreen Agricultural Products International Logistics
Co. Ltd. Holding subsidiary of parent company
Shenzhen Higreen International Agricultural Products Logistic
Management Co. Ltd Holding subsidiary of parent company
Chengdu Agricultural Products Center Wholesale Market Co.Ltd. Holding subsidiary of parent company
Huizhou Higreen Agricultural Products International Logistics
Co. Ltd. Holding subsidiary of parent company
Shenzhen Medical Materials Co. Ltd. Holding subsidiary of parent company
Shenzhen Shennong Land Co. Ltd. Holding subsidiary of parent company
Shenzhen Shennong Kitchen Co. Ltd Subsidiary of the Company’s shareholders controlled by theultimate controlling party
Zhanjiang Changshan (Shenzhen) Ecological Aquaculture Co. Subsidiary of the Company’s shareholders controlled by the
Ltd ultimate controlling party
Zhanjiang Haitian Aquatic Feed Co. Ltd Subsidiary of the Company’s shareholders controlled by theultimate controlling party
Shenzhen Higreen Real Estate Co. Ltd Subsidiary of the Company’s shareholders controlled by theultimate controlling party
Shenzhen Southern Agricultural Products Logistics Co. Ltd Subsidiary of the Company’s shareholders controlled by theultimate controlling party
Shenzhen Agricultural Products Small Loan Co. Ltd Subsidiary of the Company’s shareholders controlled by theultimate controlling party
Shenzhen Agricultural Products E-commerce Co. Ltd Subsidiary of the Company’s shareholders controlled by theultimate controlling party
Zhanjiang Haitian Aquatic Feed Co. Ltd Subsidiary of the Company’s shareholders controlled by theultimate controlling party
Directors Managers Chief Financial Officers and Board
Secretaries Key executives
Directors supervisors senior management personnel and their Directors supervisors senior management personnel and their
close family members close family members
Other explanation:
5. Related transaction
(1) Goods purchasing labor service providing and receiving
Goods purchasing/labor service receiving
In RMB
Related party Related transaction Current Period Approved Whether more Last Period
content transaction limit than the
transaction limit
136深圳市深粮控股股份有限公司2025年半年度报告全文
(Y/N)
Chengdu Procurement of goods
Agricultural
Products Center 561526.59 561526.59 N
Wholesale Market
Co. Ltd.Hunan Higreen Procurement of goods
Supply Chain Co. 32972.11 32972.11 N
Ltd
Huaiji County Procurement of goods
Shennong Modern
Agriculture 57605.50 57605.50 N
Development Co.Ltd
Huizhou Higreen Procurement of goods
Agricultural
Products 1887.61 1887.61 N
International
Logistics Co. Ltd.Ningxia Higreen Procurement of goods
Agricultural
Products 391922.15 391922.15 N
International
Logistics Co. Ltd.Shenzhen Higreen Procurement of goods
Agricultural
Products Food
5840.70 5840.70 N
Import and Export
Trade Service Co.Ltd
F.Q.T Procurement of goods 120810.00 120810.00 N
Shenzhen Procurement of goods
Guangming
Higreen
Agricultural 279031.93 279031.93 N
Products Industry
Development Co.Ltd
Shenzhen Procurement of goods
Shennong Kitchen 2532162.72 2532162.72 N 2844421.97
Co. Ltd
Shenzhen Procurement of goods
Shennong
Revitalization
78705.72 78705.72 N
Rural Industry
Development Co.Ltd
Shenzhen Information software
Shenyuan Data development 3007850.00 3007850.00 N 8670750.00
Tech. Co. Ltd
Xi'an Moer Procurement of goods
Agricultural 75433.21 75433.21 N 17286.56
Products Co. Ltd
F.Q.T Procurement of goods 73260.00
Goods sold/labor service providing
In RMB
137深圳市深粮控股股份有限公司2025年半年度报告全文
Related party Content of related transaction Current Last period
content period
Changzhou Shenbao Chacang E-business Co. Ltd. Product sales 30693.00 28301.89
Danzhou Shennong Modern Agricultural Development Co. Ltd. Product sales 5095.74
Guangxi Higreen International Agricultural Products Logistic Product sales
660.5525911.50
Management Co. Ltd
Hunan Higreen Supply Chain Co. Ltd Product sales 2346629.25
Huaiji County Shennong Modern Agriculture Development Co. Product sales
2591.15
Ltd
Huizhou Higreen Agricultural Products International Logistics Product sales
10364.60533883.17
Co. Ltd.Shenzhen Higreen Agricultural Products Food Import and Export Product sales
66466.6950499.00
Trade Service Co. Ltd
Shenzhen Agricultural Science and Technology Innovation Group Product sales
6900.0035815.00
Co. Ltd
Shenzhen Agricultural Power Group Co. Ltd. Product sales 130831.87 24540.51
Shenzhen Cabbage Technology Co. Ltd Product sales 10364.60 10364.60
Shenzhen Futian Agricultural Products Wholesale Market Co. Product sales
5005.15
Ltd.Shenzhen Guangming Higreen Agricultural Products Industry Product sales
18138.0499980.00
Development Co. Ltd
Shenzhen Agricultural Products Group Co. Ltd Product sales 9634.02 25560.85
Shenzhen Shennong Kitchen Co. Ltd Product sales 879201.32 253069.73
Shenzhen Shennong Revitalization Rural Industry Development Product sales
32769.25
Co. Ltd
Shenzhen Food Materials Group Co. Ltd Product sales 12955.75
Shenzhen Zhenpin Group Co. Ltd Property management 239831.90 429377.89
Shenzhen Zhenchu Supply Chain Co. Ltd Product sales 236382.00 1066771.53
Yueyang Higreen International Agricultural Products Market Product sales
20729.20
Development Co. Ltd.Zhanjiang Changshan (Shenzhen) Ecological Aquaculture Co. Ltd Property management 30188.68
Zhenpin Market Operation Technology Co. Ltd. Property management 3396.24
Explanation on goods purchasing labor service providing and receiving
(2) Related trusteeship management/contract & entrust management/outsourcing
Trusteeship management/contract:
In RMB
Client/ Truste Type of Start date of End date of Earnings of trusteeship
Contrac e/Cont trusteeship trusteeship trusteeship
Pricing basis for
management/con management/co management/co earnings of trusteeship
management/contract
t issuer ractor tract asset ntract ntract management/contract
recognized in current
period
Related trusteeship management/contract:
Entrusted management/outsourcing:
In RMB
Start
Type of date of End
Client/contra Trustee/Contr entrusted/o entrust date of Pricing basis of Entrust/outsourcing expense
ct issuer actor utsourced ed/out entrust entrust/outsourcing recognized in current period
assets source ed/outs expense
d ourced
Related management/outsourcing:
138深圳市深粮控股股份有限公司2025年半年度报告全文
(3) Related lease
The company acts as the lessor:
In RMB
Lessee Assets Lease income recognized in Lease income recognized intype current period last period
Shenzhen Shenyuan Data Technology Co. ltd. Lease ofhouses 184228.58 407339.97
Zhenpin Market Operation Technology Co. Ltd. Lease ofhouses 13609.00
The company acts as the lessee:
In RMB
Variable lease
Simplified rental fees payments not Interest expense
for short-term leases included in the Rent paid on lease
Assets and low value asset measurement of liabilities
Increased right-
Lessor of- use assetstype leases (if applicable) lease liabilities assumed
(if applicable)
Current Last Current Last Current Last Current Last Current Last
period period period period period period period period period period
Shenzhen
Higreen
International
Agricultural Lease
Products of 15771.00 31542.00
Logistic houses
Management
Co. Ltd
Shenzhen
Agricultural Lease
Power of 79200.00
Group Co. houses
Ltd.Explanation on related lease
(4) Related guarantee
The Company acts as the guarantor
In RMB
Secured party Guarantee amount Guarantee start date Guarantee expiry date Whether the guarantee has been fulfilled
The Company acts as the secured party
In RMB
Guarantor Guarantee amount Guarantee start date Guarantee expiry date Whether the guarantee has been fulfilled
Explanation on related guarantee:
The company has no related guarantee.
(5) Related party’s borrowed funds
In RMB
Related party Borrowing amount Start date Maturity date Note
Borrowing
Lending
(6) Assets transfer and debt restructuring of related party
In RMB
Related party Content of related transaction Current period Last period
139深圳市深粮控股股份有限公司2025年半年度报告全文
(7) Remuneration of key executives
In RMB
Item Current period Last period
(8) Other related transaction
6. Accounts receivable from/payable to related parties
(1) Accounts receivable from related parties
In RMB
Ending balance Opening balance
Item Related parties Book balance Bad debts reserve Book balance Bad debts reserve
Account ShenzhenShennong Kitchen 44675.65 424.36 128634.65 1286.35
receivable Co. Ltd
Account Hunan HigreenSupply Chain Co. 2877782.00 28777.82 104884.00 1048.84
receivable Ltd
Account Shenzhen ZhenchuSupply Chain Co. 92854.00 928.54
receivable Ltd.Shenzhen Higreen
Agricultural
Account Products Food
receivable Import and Export
9759.2846769.40467.69
Trade Service Co.Ltd
Account ShenzhenAgricultural Power 60517.80 428.67 58028.00 580.28
receivable Group Co. Ltd.Account Shenzhen Zhenpin
receivable Group Co. Ltd
657010.10275.0036784.00367.84
Guangxi Higreen
International
Account Agricultural
Products Logistic 29280.00 292.80 29280.00 292.80receivable
Management Co.Ltd
Tianjin Higreen
Account Agricultural
Products Logistics 23424.00 234.24 23424.00 234.24receivable
Co. Ltd
Shenzhen
Agricultural
Account Science and
receivable Technology
9900.0099.00
Innovation Group
Co. Ltd
Shenzhen
Account Agricultural
receivable Products Small
5857.0058.57
Loan Co. Ltd
Shenzhen
Shennong
Account Revitalization
Rural Industry 21052.40 29.28 1212.60 12.13receivable
Development Co.Ltd
Account ShenzhenAgricultural 392.00 3.92
receivable Products Group
140深圳市深粮控股股份有限公司2025年半年度报告全文
Co. Ltd
Huizhou Higreen
Account AgriculturalProducts 3400.00 34.00 204.00 2.04
receivable International
Logistics Co. Ltd.Huaiji County
Account Shennong ModernAgriculture 104.00 1.04
receivable Development Co.Ltd
Shenzhen Futian
Account AgriculturalProducts 3522.00 29.28
receivable Wholesale Market
Co. Ltd.Wuhan
Metropolitan
Account Circle Higreen
Agricultural 8100.00 81.00receivable
Products Logistics
Co. Ltd.Shenzhen
Guangming
Account HigreenAgricultural 30776.00 307.76
receivable Products Industry
Development Co.Ltd
Shenzhen Cabbage
Account
Technology Co. 20400.00 204.00
receivable
Ltd
Yueyang Higreen
International
Account Agricultural
23424.00234.24
receivable Products Market
Development Co.Ltd.Account
F.Q.T 1952.00 19.52
receivable
Danzhou
Account Shennong ModernAgricultural 1200.00 12.00
receivable Development Co.Ltd.Changzhou
Other accounts Shenbao Chacang
E-business Co. 23608742.46 21187644.18 24138742.46 22187944.18receivable
Ltd.Shenzhen
Other accounts ShichumingmenCatering 1908202.67 1908202.67 1908202.67 1908202.67
receivable Management Co.Ltd.Other accounts Shenzhen Zhenpin
1718711.7117187.12
receivable Group Co. Ltd
Shenzhen
Other accounts
Shenyuan Data 205345.94 72.33 248742.14 506.29
receivable
Tech. Co. Ltd
Shenzhen Higreen
Other accounts International
50000.0050000.00
receivable Agricultural
Products Logistic
141深圳市深粮控股股份有限公司2025年半年度报告全文
Management Co.Ltd
Other accounts ShenzhenAgricultural Power 26400.00 26400.00
receivable Group Co. Ltd.Zhenpin Market
Other accounts Operation
receivable Technology Co.
13609.00
Ltd.Zhanjiang
Changshan
Other accounts (Shenzhen)
Ecological 5520.00 5520.00 5520.00 5520.00receivable
Aquaculture Co.Ltd
Changsha
Other accounts Mawangdui
receivable Agricultural
5000.005000.00
Products Co. Ltd.Chengdu
Other accounts AgriculturalProducts Center 4000.00 4000.00
receivable Wholesale Market
Co. Ltd.Tianjin Higreen
Other accounts Agricultural
3000.003000.00
receivable Products Logistics
Co. Ltd
(2) Accounts payable to related parties
In RMB
Item Related party Ending book Opening bookbalance balance
Account
Shenzhen Shenyuan Data Tech. Co. Ltd 16350.00 16350.00
payable
Account Shenzhen Shennong Revitalization Rural Industry Development Co.
29068.7140880.51
payable Ltd
Account Shenzhen Higreen Agricultural Products Food Import and Export
31680.00
payable Trade Service Co. Ltd
Account
Huaiji County Shennong Modern Agriculture Development Co. Ltd 17706.00 24804.00
payable
Account
Hunan Higreen Supply Chain Co. Ltd 1656.00 2545.20
payable
Account
Xi'an Moer Agricultural Products Co. Ltd 641.00 9444.00
payable
Account Ningxia Higreen International Agricultural Products Logistic
57169.00967.00
payable Management Co. Ltd
Account Shenzhen Shennong Kitchen Co. Ltd
603.15
payable
Other account Shenzhen Municipal People’s Government State-owned Assets
23263563.60
payable Supervision & Administration Commission
Other account Shenzhen Shennong Kitchen Co. Ltd
277691.48296063.14
payable
Other account
Shenzhen Shenyuan Data Tech. Co. Ltd 159000.00 65400.00
payable
Other account
Zhanjiang Haitian Aquatic Feed Co. Ltd 20000.00 20000.00
payable
Other account
Shenzhen Agricultural Power Group Co. Ltd. 146162941.72 146162941.72
payable
142深圳市深粮控股股份有限公司2025年半年度报告全文
7. Related party commitment
8. Other
XV. Share-based payment
1. Overall situation of 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. Share-based payment expense in current period
□Applicable□Not applicable
5. Modification and termination of share-based payment
Nil
6. Other
Nil
XVI. Commitment or contingency
1. Important commitments
Important commitments on balance sheet date
As of June 30 2025 there are no commitments that should be disclosed by the company.
2. Contingency
(1) Contingency on balance sheet date
1) Contingent liabilities arising from pending litigation and arbitration and their financial impact
Plaintiff Defendant Cause Court Target Progress
International Food Industrial Park
Guangdong Yongshen Construction Construction The First People’s The first-Peng engineering Court of Dongguan instance
Miaosheng Engineering Co. Ltd (hereinafter referred 4535000.00to as “Yongsheng Construction”) Xu contract dispute City Guangdong judgment has
Jianqiang lawsuit Province taken effect
* Dispute regarding the construction contract between Peng Miaosheng Xu Jianqiang Yongsheng Construction and International
Food
In October 2023 Peng Miaosheng filed a lawsuit against Xu Jianqiang Yongsheng Construction and the Dongguan International
Food Industry Park seeking the payment of 4097300.00 yuan for construction labor costs and 437700.00 yuan in interest. Peng
Miaosheng requested that Yongsheng Construction be jointly liable for the payment of the full amount 4535000.00 yuan and that
143深圳市深粮控股股份有限公司2025年半年度报告全文
the Food Industry Park bear responsibility for paying the outstanding project funds of 4097300.00 yuan including interest. The
Food Industry Park has argued that the dispute is unrelated to its responsibilities. In June 2025 the First People's Court of
Dongguan City Guangdong Province rendered the first-instance judgment as follows: The defendant Guangdong Yongsheng
Construction Engineering Co. Ltd. shall pay the project payment of 571192.00 yuan and the corresponding interest to the
plaintiff Peng Miaosheng within seven(7) days from the date on which this judgment takes effect; Reject the plaintiff Peng
Miaosheng's other claims; Reject all counterclaims of the defendant Guangdong Yongsheng Construction Engineering Co. Ltd.As of now the company is unable to determine the financial impact of potential liabilities and estimated liabilities for this pending
lawsuit have not been recognized.
(2) It shall also be described in case the company has no important contingent events to be disclosed.
The company has no important contingent events to be disclosed.
3. Other
XVII. Events after balance sheet date
1. Important non-adjustment matters
In RMB
Item Content Impact on financial status and operation results Reasons of failing to estimate theimpact
2. Profit distribution
3. Sales return
4. Other events after balance sheet date
XVIII. Other important events
1. Previous accounting errors correction
(1) Retrospective restatement
In RMB
Content of accounting error correction Procedures Items impact during every comparativeperiod Accumulated impact
(2) Prospective application
Content of accounting error correction Approval procedure Reasons for adopting the prospective applicable method
2. Debt restructuring
3. Assets exchange
(1) Exchange of non-monetary assets
(2) Other assets exchange
4. Pension plan
5. Discontinuing operation
In RMB
Item Revenue Expenses Total Income tax Net Profit of discontinuing operation attributable to owners of
144深圳市深粮控股股份有限公司2025年半年度报告全文
profit expenses profit parent company
Other explanation
6. Branch
(1) Recognition basis and accounting policy for reportable branch
(2) Financial information for reportable branch
In RMB
Item Offset between branches Total
(3) Explain reasons in case the Company has no branches or is unable to disclose total assets and
liabilities of segments
(4) Other explanation
7. Other major transaction and events makes influence on investor’s decision
8. Other
XIX. Notes to main items of financial statements of parent company
1. Account receivable
(1) By aging
In RMB
Aging Ending book balance Beginning book balance
Within 1 year(inclusive) 119664346.72 116870897.62
1-2 years 24424.00 73272.00
Over 3 years 37305.68 37305.68
Over 5 years 37305.68 37305.68
Total 119726076.40 116981475.30
(2) Accrued bad debts reserve
In RMB
Ending balance Opening balance
Categor Book value Bad debts reserve Book value Book value Bad debts reservey Book value
Amount Ratio Amoun Accruat l ratio Amount Ratio
Amoun Accrua
t l ratio
Accoun
t
receiva
ble with
bad
debts 28453. 100.00 28453. 100.0028453.08 0.02% 0.00 28453.08 0.02% 0.00
reserve 08 % 08 %
accrual
on
single
basis
Includi
ng:
Accoun 119697623 99.98 14409. 119683214 116953022 99.98 14409. 116938612
t 0.01% 0.01%.32 % 28 .04 .22 % 28 .94
145深圳市深粮控股股份有限公司2025年半年度报告全文
receiva
ble with
bad
debts
reserve
accrual
on
portfoli
o
Includi
ng:
Portfoli
o of
sales 14409. 24.68 14409. 17.5558382.90 0.05% 43973.62 82124.60 0.07% 67715.32
receiva 28 % 28 %
ble
Object-
specific 119639240 99.93 119639240 116870897 99.91 116870897
portfoli 0.00 0.00% 0.00 0.00%.42 % .42 .62 % .62
o
Total 119726076 100.00 42862. 119683214 116981475 100.00 42862. 1169386120.04% 0.04%.40%36.04.30%36.94
Accrual of bad debts reserve on single item
In RMB
Opening balance Ending balance
Name
Book balance Bad debts Bad debtsreserve Book balance reserve Accrual ratio Accrual reason
Accrual of bad The possibility
debts reserve 28453.08 28453.08 28453.08 28453.08 100.00% of recovery is
on single item relatively low
Total 28453.08 28453.08 28453.08 28453.08
Accrual of bad debts reserve on portfolio of sales receivable and objective-specific portfolio
In RMB
Name Ending balance
Book balance Bad debts reserve Accrual ratio
Portfolio of sales receivable 58382.90 14409.28 24.68%
Object-specific portfolio 119639240.42 0.00 0.00%
Total 119697623.32 14409.28
Explanation on the basis to determine such portfolio:
Accrual of bad debts reserve on portfolio
In RMB
Ending balance
Name Book balance Bad debts reserve Accrual ratio
Explanation on the basis to determine such portfolio:
Accrual of bad debts reserve of account receivable on the general model of expected credit losses:
□Applicable□Not applicable
(3) Bad debts reserve accrued recovered or reversed
Bad debts reserve accrued in the period:
In RMB
Amount changed in the period
Category Opening balance
Accrued Recovered or
Ending balance
reversed Written-off Other
Bad debts reserve of
account receivable 42862.36 0.00 0.00 0.00 0.00 42862.36
146深圳市深粮控股股份有限公司2025年半年度报告全文
Total 42862.36 0.00 0.00 0.00 0.00 42862.36
Important bad debts reserve recovered or reversed:
In RMB
Basis and rationality to
Enterprise Recovered or reversed Reason for recovery Manner of reversal define the accrual ratioof original bad debts
reserve
(4) Account receivable charged off in the period
In RMB
Item Amount charged off
Including major account receivable charged off:
In RMB
Enterprise Nature Amount charged off Reason for charged Procedure of Resulted by relatedoff charged off transaction (Y/N)
Explanation on account receivable charged off:
(5) Top five receivables and contract assets at ending balance by debtor
In RMB
Ending
Ending balance Ending balance balance of Ratio in total ending Ending balance of bad debts
Enterprise of accounts of contract accounts balance of accounts reserves for account receivable
receivable assets receivable receivables and contract and impairment provision ofand contract assets contract assets
assets
2. Other accounts receivable
In RMB
Item Ending balance Opening balance
Other accounts receivable 1952967875.15 2123872937.65
Total 1952967875.15 2123872937.65
(1) Interest receivable
1) By category
In RMB
Item Ending balance Opening balance
2) Important overdue interest
Whether impairment
Borrower Ending balance Overdue time Overdue causes occurs and its
judgment basis
Other explanation:
3) Accrued bad debts reserve
□Applicable□Not applicable
4) Bad debts reserve accrued recovered or reversed
In RMB
Category Opening balance Amount changed in the period Ending balance
147深圳市深粮控股股份有限公司2025年半年度报告全文
Accrued Recovered orreversed Charged off Other
Bad debts reserve
Total
Important bad debts reserve recovered or reversed:
In RMB
Basis and rationality to
Enterprise Recovered or reversed Reason for recovery Manner of reversal define the accrual ratioof original bad debts
reserve
Other explanation:
5) Interest receivable charged off in the period
In RMB
Item Amount charged off
Including major interest receivable charged off:
In RMB
Enterprise Nature Amount charged off Reason for charged Procedure of Resulted by relatedoff charged off transaction (Y/N)
Explanation on interest receivable charged off:
Other explanation:
(2) Dividends receivable
1) By category
In RMB
Item (or the invested entity) Ending balance Opening balance
2) Important dividends receivable with aging over one year
In RMB
Item (or investee) Ending Aging Reasons for not Whether impairment occurs and its judgmentbalance collection basis
3) Accrued bad debts reserve
□Applicable□Not applicable
4) Bad debts reserve accrued recovered or reversed
Amount changed in the period
Category Opening balance Ending balance
Accrued Recovered orreversed Charged off Other
Important bad debts reserve recovered or reversed in the period:
In RMB
Basis and rationality to
define the accrual ratio
Enterprise Recovered or reversed Reason for recovery Manner of reversal
of original bad debts
reserve
Other explanation:
5) Dividends receivable charged off in the period
In RMB
148深圳市深粮控股股份有限公司2025年半年度报告全文
Item Amount charged off
Including major dividends receivable charged off:
In RMB
Enterprise Nature Amount charged off Reason for charged Procedure of charged Resulted by relatedoff off transaction (Y/N)
Explanation on those charged off:
Other explanation:
(3) Other accounts receivable
1) By nature
In RMB
Nature Ending book balance Beginning book balance
Margin and deposit 5205444.18 5210066.16
Other intercourse funds 1974592166.01 2146492606.53
Total 1979797610.19 2151702672.69
2) By aging
In RMB
Aging Ending book balance Beginning book balance
Within 1 year(inclusive) 1950493409.72 770755999.84
1-2 year 162272693.15
2-3 years 260356.15 1193798401.94
Over 3 years 29043844.32 24875577.76
Over 5 years 29043844.32 24875577.76
Total 1979797610.19 2151702672.69
3) Accrued bad debts reserve
In RMB
Ending balance Opening balance
Category Book balance Bad debts reserve Book Book balance Bad debts reserve Book
Amount Ratio Amount Accrual valueratio Amount Ratio Amount
Accrual value
ratio
Including:
Including:
Accrual of bad debts reserve on the general model of expected credit losses:
In RMB
Phase I Phase II Phase III
Bad debts reserve Expected credit losses Expected credit losses
Expected credit losses for the entire duration for the entire duration Total
over next 12 months (without credit (with credit impairment
impairment occurred) occurred)
Balance on Jan. 1 2025 27829735.04 27829735.04
Balance on Jan. 1 2025
in the period
Reversal 1000000.00 1000000.00
Balance on June 30
202526829735.0426829735.04
Classification basis and bad debts reserve ratio for each stage
Changes in book balance of bad debts reverse with significant changes in the current period
□Applicable□Not applicable
149深圳市深粮控股股份有限公司2025年半年度报告全文
4) Bad debts reserve accrued recovered or reversed
Bad debts reserve accrued in the period:
In RMB
Amount changed in the period
Category Opening balance Recovered or Ending balanceAccrued reversed Charged off Other
Bad debts reserve of
other account 27829735.04 1000000.00 26829735.04
receivable
Total 27829735.04 1000000.00 26829735.04
Important bad debts reserve recovered or reversed in current period:
In RMB
Basis and rationality to
Enterprise Recovered or reversed Reason for recovery Manner of reversal define the accrual ratioof original bad debts
reserve
5) Other accounts receivable charged off in the period
In RMB
Item Amount charged off
Including major other account receivable charged off:
In RMB
Enterprise Nature Amount charged off Reason for charged Procedure of charged Resulted by relatedoff off transaction (Y/N)
Explanation on other account receivable charged off:
6) Top 5 accounts receivable at ending balance by debtor
In RMB
Enterprise Nature Ending Aging Proportion in total other receivables at ending Ending balance of bad debts
balance balance (%) reserve
7) Those booked into other accounts receivables due to centralized fund management
In RMB
Other explanation:
3. Long-term equity investment
In RMB
Ending balance Opening balance
Item
Book balance Impairmentprovision Book value Book balance
Impairment
provision Book value
Investment in
subsidiaries 4036688641.37 5500000.00 4031188641.37 4036688641.37 5500000.00 4031188641.37
Total 4036688641.37 5500000.00 4031188641.37 4036688641.37 5500000.00 4031188641.37
(1) Investment in subsidiaries
In RMB
Beginning Current changes (+/ -)
Opening balance balance of Ending balance Ending balanceInvestee (book value) impairment Additional Capital
Accrual of
(book value) of impairment
provision investment reduction
impairment Other provision
provision
SZCG 3291415036.82 3291415036.82
Dongguan
Shenliang 321680000.00 321680000.00
150深圳市深粮控股股份有限公司2025年半年度报告全文
Logistics Co.Ltd.Huizhou Shenbao
Technology Co. 60000000.00 60000000.00
Ltd.Shenzhen
Shenbao
Huacheng 223228545.91 223228545.91
Technology Co.Ltd.Shenzhen
Shenshenbao
Investment Co. 50000000.00 50000000.00
Ltd
Shenzhen
Shenliang Food 80520842.36 5500000.00 80520842.36 5500000.00
Co. Ltd.Xingye Food 4344216.28 4344216.28
Total 4031188641.37 5500000.00 4031188641.37 5500000.00
(2) Investment in associated enterprises and joint venture
In RMB
Openin Opening Current changes (+/ -) Ending
g balance Investme Other Cash balance
Investe balanc of Addition Capital nt gains Other equit dividend
Accrual Ending of
e e impairme al reductio recogniz comprehensi y or profit
of
impairme Othe
balance(bo
(book nt investme ok value)
impairme
nt n ed under
ve income chang announc r nt
value) provision equity adjustment e ed to
nt
issued provision
provision
1. Joint venture
2. Associated enterprise
The recoverable amount is determined on the basis of the net amount after deducting disposal expenses from fair value
□Applicable ?Not applicable
The recoverable amount is determined on the basis of the present value of expected future cash flows
□Applicable□Not applicable
Reasons for significant discrepancies between the aforementioned information and the information or external information used in
previous years' impairment testing
Reasons for significant discrepancies between the information used in the company's previous annual impairment tests and the
actual situation of the current year
(3) Other explanation
4. Operating revenue and operating cost
In RMB
Current period Last period
Item
Revenue Cost Revenue Cost
Main business 75010570.45 12461791.38 81572805.12 235795.14
Other business 73807.97 235795.14 137609.18 0.00
Total 75084378.42 12697586.52 81710414.30 235795.14
Breakdown information of operating income and operating costs:
In RMB
Contract Branch 1 Branch 2 Total
category Revenue Cost Revenue Cost Revenue Cost Revenue Cost
Business
type
Including:
Classification
by business
151深圳市深粮控股股份有限公司2025年半年度报告全文
area
Including:
Market or
customer
type
Including:
Contract type
Including:
Classification
by time of
goods
transfer
Including:
Classification
by contract
duration
Including:
Classification
by sales
channel
Including:
Total
Information related to performing obligations:
Item Time for Important Nature of the Is it the main The expected The types of
performing payment terms goods promised responsible refunds to quality
obligations to transfer by person customers borne assurance
the company by the company provided by the
company and
related
obligations
Other explanation
Information related to the transaction price apportioned to the remaining performance obligations:
The amount of income corresponding to performing obligations that have been signed at the end of this reporting period but have
not yet been fulfilled or have not done with fulfillment is 0.00 yuan among them 0.00 yuan of revenue is expected to be
recognized in the year.Significant contract changes or significant transaction price adjustments
Item Accounting treatment method Impact on income
Other explanation:
5. Investment income
In RMB
Item Current Period Last Period
Investment income of long-term equity
investment measured with cost method 9380685.39
Investment income from the disposal of
long-term equity investment 1567130.20
Investment income during the holding
period of tradable financial assets 3729953.65
Total 14677769.24
152深圳市深粮控股股份有限公司2025年半年度报告全文
6. Others
XX. Supplementary information
1. Current non-recurring gains/losses
□ Applicable □Not applicable
In RMB
Item Amount Note
Gains/losses from the disposal of non-current asset -18422.68
Governmental subsidies reckoned into current gains/losses (except for those with normal operation business
concerned and conform to the national policies & regulations and are enjoyed according to certain standard 4186124.46
and having a continuous impact on the company’s gains/losses)
Gains/losses from exchange of non-monetary assets 3165237.35
Other non-operating income and expenditure except for the aforementioned items -134391.52
Other gains/losses that meet the definition of non-recurring gains/losses 16802279.39
Less: impact on income tax 6000206.75
Impact on minority shareholders’ equity (after-tax)
Total 18000620.25
Other gains/losses that conform to the definition of non-recurring gains/losses:
□ Applicable□ Not applicable
The Company does not have other gains/losses that conform to the definition of non-recurring gains/losses.Information on the definition of non-recurring gains/losses listed in the Q&A Announcement No.1 on Information Disclosure for
Companies Offering Their Securities to the Public --- Non-recurring Gains/Losses as Recurring Gains/Losses
□Applicable □Not applicable
2. ROE and earnings per share
Profits during reporting period Weighted
Earnings per share
average ROE Basic earnings per Diluted earnings pershare (RMB/Share) share (RMB/Share)
Net profits attributable to common stock stockholders of the
Company 3.51% 0.1527 0.1527
Net profits attributable to common stock stockholders of the
Company after deducting non-recurring gains/ losses 3.16% 0.1371 0.1371
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
In RMB
Net profit Net asset
Current amount Last amount Ending balance Beginning balance
Under Chinese GAPP 176015525.87 129001273.54 4922671937.79 4919674142.82
Items and amount adjusted under IAS
1067000.001067000.00
153深圳市深粮控股股份有限公司2025年半年度报告全文
Under IAS 176015525.87 129001273.54 4923738937.79 4920741142.82
(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
(3) Explanation on data differences under the accounting standards in and out of China; as for the
differences adjustment audited by foreign auditing institute listed name of the institute
□Applicable□Not applicable
4. Other
154深圳市深粮控股股份有限公司2025年半年度报告全文
Section IX Other Reported Data
I. Status of other major social security issues
Whether the listed company and its subsidiaries have other major social security issues or not
□ Yes ? No □ Not Applicable
Whether any administrative penalties were imposed during the reporting period or not
□ Yes ? No □ Not Applicable
II. Reception of research communication and interview during the reporting period
□Applicable □Not applicable
Main content
Reception time Reception place Reception Reception Reception talked about
Index of basic
mode object type Object and materials situation of
provided research
For details
please refer tothe “InvestorCommunication
Record Form of
the Company's
Online Value 2022 AnnualNetwork 2024 annual
May 20 2025 www.ir- platform online Other All investors performance
Performance
online.cn communication briefing ExplanationMeeting”
disclosed on
CNINFO
Website
(www.cninfo.com. cn) on
May 20 2025
III. Status of fund transactions between the listed company and its controlling shareholders
and other related parties
?Applicable □Not applicable
In ten thousand yuan
Amount Amount
Interest
Name of Nature of Opening incurred in repaid in Ending Interest
expenditu
counterparty transaction balance reporting reporting balance income
re
period period
Changzhou
Shenbao
Operating
Chacang E- 2413.87 3.47 56.46 2360.87 0 0
transaction
business Co.Ltd.Chengdu
Agricultural Operating
0.4000.400
Products Center transaction
Wholesale
155深圳市深粮控股股份有限公司2025年半年度报告全文
Market Co. Ltd.Danzhou
Shennong
Modern Operating
00.580.460.1200
Agricultural transaction
Development
Co. Ltd.Guangxi Higreen
International
Agricultural Operating
2.930.070.072.9300
Products Logistic transaction
Management
Co. Ltd
Hunan Higreen
Operating
Supply Chain 10.49 277.29 0 287.78 0 0
transaction
Co. Ltd
Huaiji County
Shennong
Modern Operating
0.010.290.3000
Agriculture transaction
Development
Co. Ltd
Huizhou Higreen
Agricultural
Products Operating
0.021.170.850.3400
International transaction
Logistics Co.Ltd.Shenzhen
Higreen
Agricultural
Operating
Products Food 4.68 7.51 11.21 0.98 0 0
transaction
Import and
Export Trade
Service Co. Ltd
Operating
F.Q. T 0 0.2 0 0.2 0 0
transaction
Shenzhen
Agricultural
Science and Operating
0.990.781.77000
Technology transaction
Innovation
Group Co. Ltd
Shenzhen
Agricultural Operating
8.4429.5729.328.6900
Power Group transaction
Co. Ltd.Shenzhen
Cabbage Operating
02.0402.0400
Technology Co. transaction
Ltd
Shenzhen Futian
Agricultural
Operating
Products 0 0.35 0 0.35 0 0
transaction
Wholesale
Market Co. Ltd.Shenzhen Operating 0 3.08 0 3.08 0 0
156深圳市深粮控股股份有限公司2025年半年度报告全文
Guangming transaction
Higreen
Agricultural
Products Industry
Development
Co. Ltd
Shenzhen
Higreen
Agricultural
Operating
Products Food 5 0 0 5 0 0
transaction
Import and
Export Trade
Service Co. Ltd
Shenzhen
Agricultural Operating
0.041.091.13000
Products Group transaction
Co. Ltd
Shenzhen
Agricultural Operating
0.5900.59000
Products Small transaction
Loan Co. Ltd
Shenzhen
Operating
Shennong 12.86 99.35 107.75 4.47 0 0
transaction
Kitchen Co. Ltd
Shenzhen
Shennong
Revitalization Operating
03.71.62.1100
Rural Industry transaction
Development
Co. Ltd
Shenzhen
Operating
Shenyuan Data 24.87 0 4.34 20.53 0 0
transaction
Tech. Co. Ltd
Shenzhen
Shichumingmen
Operating
Catering 190.82 0 0 190.82 0 0
transaction
Management
Co. Ltd.Shenzhen
Operating
Zhenpin Group 175.55 89.12 198.97 65.7 0 0
transaction
Co. Ltd
Shenzhen
Operating
Zhenchu Supply 9.29 26.71 36 0 0 0
transaction
Chain Co. Ltd.Tianjin Higreen
Agricultural
Operating
Products 2.64 0 0 2.64 0 0
transaction
Logistics Co.Ltd
Wuhan
Metropolitan
Circle Higreen
Operating
Agricultural 0 0.81 0 0.81 0 0
transaction
Products
Logistics Co.Ltd.Yueyang Higreen Operating 0 2.34 0 2.34 0 0
157深圳市深粮控股股份有限公司2025年半年度报告全文
International transaction
Agricultural
Products Market
Development
Co. Ltd.Zhanjiang
Changshan
(Shenzhen) Operating
0.55000.5500
Ecological transaction
Aquaculture Co.Ltd
Changsha
Mawangdui
Operating
Agricultural 0.5 0 0 0.5 0 0
transaction
Products Co.Ltd.Zhenpin Market
Operation Operating
00.380.38000
Technology Co. transaction
Ltd.Dongguan
International
Food Industrial
Park
Development Non-Operating
Co. Ltd. 66872.97 869.24 0 67742.22 869.24 0Expense
(hereinafter
referred to as“InternationalFood”)
Dongguan
Shenliang
Hualian Cereals
and Oil Trading
Co. Ltd Non-Operating 260.51 337.59 0 598.09 337.59 0
(hereinafter Expense
referred to as“DongguanHualian”)
Dongguan
Shenliang Oil &
Food Trade Co.Ltd. (hereinafter Non-Operating 10947.08 141.33 0 11088.41 141.33 0
referred to as Expense“Dongguan Oil& Food”)
Dongguan
Shenliang
Logistics Co.Ltd. (hereinafter Non-Operating 42434.05 1077.77 0 43511.81 1077.77 0
referred to as Expense“DongguanLogistics”)
Shenzhen
Shenliang Big
Kitchen Food
Supply Chain Non-Operating
Co. Ltd 76.55 22.49 0 99.04 22.49 0Expense
(hereinafter
referred to as
“Big Kitchen”)
Shuangyashan Non-Operating
Shenliang 12.97 23.83 0 36.80 23.83 0Expense
158深圳市深粮控股股份有限公司2025年半年度报告全文
Cereals Base
Co. Ltd.(hereinafter
referred to as
“Shuangyashan”)
Shenzhen
Shenliang
Storage
(Yingkou) Co. Non-Operating
Ltd (hereinafter 2.66 3.73 0 6.39 3.73 0Expense
referred to as“YingkouStorage”)
Total -- 123471.33 3025.88 451.20 126046.01 2475.98 0
Related decision
Yes
procedures
Fund security
assurance Yes
measures
159
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