深圳市深粮控股股份有限公司2021年年度报告全文
深圳市深粮控股股份有限公司
SHENZHEN CEREALS HOLDINGS CO.LTD.ANNUAL REPORT 2021
April 2022
1深圳市深粮控股股份有限公司2021年年度报告全文
Section I. Important Notice Contents and Interpretation
Board of Directors Supervisory Committee all directors supervisors and senior executives of
SHENZHEN CEREALS HOLDINGS CO.LTD. (hereinafter referred to as the Company)
hereby confirm that there are no any fictitious statements misleading statements or
important omissions carried in this report and shall take all responsibilities individual
and/or joint for the reality accuracy and completion of the whole contents.Chairman of the Company Zhu Junming General Manager Hu Xianghai Head of
Accounting Lu Yuhe and Head of Accounting Institution (Accounting Supervisors) Wen Jieyu
hereby confirm that the Financial Report of Annual Report 2021 is authentic accurate and
complete.All Directors are 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 Hong Kong Commercial Daily and Juchao 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 “Prospect forfuture development of the Company” in the report of Section IV-Discussion 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 profit distribution plan deliberated and approved by the Board Meeting was: distributed
cash bonus of 2.50 yuan (tax included) for every 10 shares held by whole shareholders based
on the 1152535254 zero share(tax included) for bonus and no transfer of public reserves
into share capital either.
2深圳市深粮控股股份有限公司2021年年度报告全文
Contents
Section I. Important Notice Contents and Interpret... 2
Section II Company Profile and Main Financial Inde... 6
Section III Management Discussion and Analysis ..... 12
Section IV Corporate Governance .................... 41
Section V. Environmental and Social Responsibility.. 66
Section VI. Important Events ....................... 70
Section VII. Changes in Shares and Particulars abo. 100
Section VIII. Preferred Stock ..................... 108
Section IX. Corporate Bonds ....................... 109
Section X. Financial Report ....................... 110
3深圳市深粮控股股份有限公司2021年年度报告全文
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 audit report with seal of the CPAs and signature and seal of the certified public accountants;
3. Original and official copies of all documents which have been disclosed on Securities Times China Securities
Journal Hong Kong Commercial Daily and Juchao Website (www.cninfo.com.cn) in the report period;
4. Original copies of 2021 Annual Report with signature of the Chairman.
4深圳市深粮控股股份有限公司2021年年度报告全文
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.Flour Company Flour Factory 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.Dongguan Food Industrial Park Refers to Dongguan International Food Industrial Park Development 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.Wuhan Jiacheng Refers to Wuhan Jiacheng Biotechnology Co. Ltd
Food Materials Group Refers to Shenzhen Food Materials Group Co. Ltd
Fude Capital Refers to Shenzhen Fude State Capital Operation Co. Ltd.Agricultural Products Refers to Shenzhen Agricultural Products Group Co. Ltd
SIHC Refers to Shenzhen Investment Holdings Co. Ltd.Shenzhen Municipal People’s Government State-owned Assets
Shenzhen SASAC Refers to
Supervision & Administration Commission
CSRC Refers to China Securities Regulation Commission
SSE Refers to Shenzhen Stock Exchange
Shu Lun Pan CPAs Refers to BDO China Shu Lun Pan Certified Public Accountant LLP
Article of Association Refers to Article of Association of Shenzhen Cereals Holdings Co. 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2021年年度报告全文
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深圳市深粮控股股份有限公司
Company
Abbr. of Chinese name of深粮控股
the Company
English name of the
SHENZHEN CEREALS HOLDINGS CO.LTD
Company(if applicable)
Legal Representative Zhu Junming
8/F Tower B No.4 Building Software Industry Base South District Science & Technology
Registrations add.Park Xuefu Rd. Yuehai Street Nanshan District Shenzhen
Code for registrations add 518057
The Company listed in 1992 registered address is No.10 Tianbei East Wenjin North Road
Luohu District Shenzhen; in 1999 the registered address changed to No.1058 Wenjin North
Road Luohu District Shenzhen; in 2002 the registered address changed to 28/F Tower BC of
Historical changes of Bao’an Square No.1002 Sungang Road Luohu District Shenzhen; in 2010 the registered address
registered address changed to South half of the 20th floor Tower of Zhuzilin Education and Technology Building
Futian District Shenzhen; in 2015 registered address changed to 8/F Tower B No.4 Building
Software Industry Base South District Science & Technology Park Xuefu Rd. Yuehai Street
Nanshan District Shenzhen
Offices add. 13/F Tower A World Trade Plaza No.9 Fuhong Rd. Futian District Shenzhen
Codes for office add. 518033
Company’s Internet Web
www.slkg1949.com
Site
E-mail szch@slkg1949.com
II. Person/Way to contact
Secretary of the Board Rep. of security affairs
Name Chen Xiaohua Chen Kaiyue Liu Muya
13/F Tower A World Trade Plaza No.9 Fuhong 13/F Tower A World Trade Plaza No.9 Fuhong
Contact add.Rd. Futian District Shenzhen Rd. Futian District Shenzhen
Tel. 0755-83778690 0755-83778690
6深圳市深粮控股股份有限公司2021年年度报告全文
Fax. 0755-83778311 0755-83778311
E-mail chenxh@slkg1949.com chenky@slkg1949.com、liumy@slkg1949.com
III. Information disclosure and preparation place
Website of the Stock Exchange where the annual Securities Times; China Securities Journal and Hong Kong Commercial
report of the Company disclosed Daily
Media and Website where the annual report of the
Juchao Website: www.cninfo.com.cn
Company disclosed
Preparation place for annual report Office of the Board of Directors
IV. Registration changes of the Company
Organization code 91440300192180754J
On February 18 2019 the company completed the registration procedures of
Changes of main business since listing changes in industry and commerce for business scope and other matters. The main
(if applicable) business has newly increased the modern food supply chain services as grain & oil
trading processing storage and logistics.On 10 September 1999 Shenzhen Investment Management Co. Ltd. entered into the
“Equity Transfer Agreement of Shenzhen Shenbao Industrial Co. Ltd.” with
Agricultural Products for 58347695 shares of the Company (35% in total shares of
the Company) transfer to Agricultural Products with price of RMB 1.95 per share.Agricultural Products comes to the first majority shareholder of the Company after
transfer and procedures for the above equity transfer has completed in June 2003.Previous changes for controlling
On April 3 2018 Shenzhen Investment Holdings Co. Ltd. completed the transfer of
shareholders (if applicable)
all of its 79484302 shares of A shares in the company to Fude Capital(changed its
name to Food Materials Group later). After the completion of the equity transfer
Food Materials Group directly holds 79484302 shares of A shares in the company
(accounting for 16% of the company’s original total share capital) and controls
19.09% shares of the company through Agricultural Products indirectly becoming
the controlling shareholder of the company.V. Other relevant information
CPA engaged by the Company
Name of CPA BDO China Shu Lun Pan Certified Public Accountant LLP
BDO CPAs 5/F No.11 Building Phase II q-plex No. 4080 Qiaoxiang Rd. Nanshan
Offices add. for CPA
District
Signing Accountants Qi Tao Tao Guoheng
Sponsor engaged by the Company for performing continuous supervision duties in reporting period
□ Applicable √ Not applicable
7深圳市深粮控股股份有限公司2021年年度报告全文
Financial consultant engaged by the Company for performing continuous supervision duties in reporting period
□ Applicable √ Not applicable
VI. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□Yes √No
Changes in the current
2021 2020 year over the previous 2019
year (+-)
Operating revenue (RMB) 10139563710.11 11884527506.34 -14.68% 11059984335.92
Net profit attributable to
shareholders of the listed 428720226.09 405088385.54 5.83% 363501809.52
Company (RMB)
Net profit attributable to
shareholders of the listed
Company after deducting 377558306.28 374210363.49 0.89% 350898272.66
non-recurring gains and losses
(RMB)
Net cash flow arising from
440396029.54286528222.2753.70%190053823.97
operating activities (RMB)
Basic earnings per share
0.37200.35155.83%0.3154
(RMB/Share)
Diluted earnings per share
0.37200.35155.83%0.3154
(RMB/Share)
Weighted average ROE 9.13% 8.99% 0.14% 8.46%
Changes at end of the
current year compared
Year-end of 2021 Year-end of 2020 Year-end of 2019
with the end of
previous year (+-)
Total assets(RMB) 7669618906.32 7309384147.93 4.93% 6775067275.86
Net assets attributable to
shareholder of listed 4630292102.34 4595331999.76 0.76% 4420751187.57
Company(RMB)
The lower one of net profit before and after deducting the non-recurring gains/losses in the last three fiscal years is negative and the
audit report of last year shows that the ability to continue operating is uncertain
□Yes √No
The lower one of net profit before and after deducting the non-recurring gains/losses is negative
□Yes √No
8深圳市深粮控股股份有限公司2021年年度报告全文
VII. 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
Unit: RMB/CNY
Net profit attributable to shareholders of the Net assets attributable to shareholder of listed
listed Company Company
Current period Last period Ending amount Opening amount
Chinese GAAP 428720226.09 405088385.54 4630292102.34 4595331999.76
Items and amount adjusted by IAS
Adjustment for other
payable fund of stock 1067000.00 1067000.00
market regulation
IAS 428720226.09 405088385.54 4631359102.34 4596398999.76
2. Difference of the net profit and net assets disclosed in financial report under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
The Company has no above mentioned condition occurred in the period
3. Explanation on differences of the data under accounting standards in and out of China
□ Applicable √ Not applicable
VIII. Main financial index disclosed by quarter
Unit: RMB/CNY
Q 1 Q 2 Q 3 Q 4
Operating revenue 2529474992.85 2732714187.68 2292168454.87 2585206074.71
Net profit attributable to
shareholders of the listed 136066882.15 107779992.61 53101621.53 131771729.80
Company
Net profit attributable to
shareholders of the listed
133145217.46103894448.8542356846.5798161793.40
Company after deducting
non-recurring gains and losses
9深圳市深粮控股股份有限公司2021年年度报告全文
Net cash flow arising from
-222629715.89-468642435.44800817246.32330850934.55
operating activities
Whether there are significant differences between the above-mentioned financial index or its total number and the relevant financial
index disclosed in the Company’s quarterly report and semi-annual report
□Yes √ No
IX. Items and amounts of extraordinary profit (gains)/loss
√ Applicable □ Not applicable
Unit: RMB/CNY
Item 2021 2020 2019 Note
Gains/losses from the disposal of non-current asset
(including the write-off that accrued for impairment of 29351180.57 2072531.42 -43069.03
assets)
Governmental subsidy reckoned into current
gains/losses (except for those with normal operation
business concerned and conform to the national
15871621.2818503372.3112297924.24
policies & regulations and are continuously enjoyed at
a fixed or quantitative basis according to certain
standards)
Fund possession cost reckoned in current gain/loss
436664.31
charged from non-financial enterprise
Profit and loss of assets delegation on others’
4014308.8512655258.646299093.96
investment or management
Except for the effective hedging operations related to
normal business operation of the Company the
gains/losses of fair value changes from holding the
trading financial assets and trading financial liabilities 299292.76 -151852.20 41281.76
and the investment earnings obtained from disposing
the trading financial asset trading financial liability
and financial assets available for sale
Switch-back of provision of impairment of account
receivable which are treated with separate 4076676.65 1236198.70 1035149.32
depreciation test
Other non-operating income and expenditure except
13089042.882423255.86-4544601.53
for the aforementioned items
Other gains/losses items that conform to the definition
496383.61
of non-recurring gains/losses
Subtotal
10深圳市深粮控股股份有限公司2021年年度报告全文
Less: impact on income tax 14600145.88 5591230.45 2149564.84
Impact on minority shareholders’ equity
940057.30765895.84769341.33
(after-tax)
Total 51161919.81 30878022.05 12603536.86 --
Other gains/losses items that conform to the definition of non-recurring gains/losses:
□ Applicable √ Not applicable
The Company does not have other gains/losses items that conform to the definition of non-recurring gains/losses
Information on the definition of non-recurring profit(gain)/loss that listed in the Q&A Announcement No.1 on Information Disclosure
for Companies Offering Their Securities to the Public --- Extraordinary (non-recurring) Profit(gain)/loss as the recurring
profit(gain)/loss
□Applicable √Not applicable
The Company does not have any non-recurring profit(gain)/loss listed under the Q&A Announcement No.1 on Information Disclosure
for Companies Offering Their Securities to the Public --- Extraordinary (non-recurring) Profit(gain)/loss defined as recurring
profit(gain)/loss
11深圳市深粮控股股份有限公司2021年年度报告全文
Section III Management Discussion and Analysis
I. Industry of the Company during the reporting period
(i) The basic situation development stage cyclical characteristics of the industry and the company’s position in
the industry shall highlight the major changes occurring during the reporting period.At present the domestic grain and oil trade processing and logistics industry is a full-circulation field with a high
marketization degree many participating companies and fierce competition. The central enterprises and large
local grain enterprises have relatively complete warehousing and logistics facilities and enjoy a number of
national policy supports; in recent years a large number of outstanding national and regional private grain
enterprises have come to the fore; with the development of grain marketization in China foreign-funded grain
enterprises with rich resources strong fund strength and mature management experience cut a figure in China’s
grain market which further intensifies the competition in the grain and oil industry. The grain industry in
Shenzhen is developing vigorously. There are many grain and oil processing enterprises and many small and
medium-sized enterprises with a certain scale in the area. With the advancement of the “dual district construction”
the population of the Pearl River Delta cities is increasing people’s living standards is being improved and
competition in the grain market is going orderly and unprecedentedly intense.Affected by uncertain factors such as repeated COVID-19 outbreaks and frequent natural disasters in the first half
of 2021 the food and grain prices in the international market continued the upward trend in 2020. However under
the expectation that global food and grain production would continue to increase the international food and grain
prices fell from high levels in the second half of the year. It is expected that the international food and grain prices
may be differentiated in 2022 showing a trend of narrow fluctuations of rice and corn at existing levels
fluctuations of soybeans and wheat rising first and then falling. In 2021 the price trends of different varieties of
grain in china was differentiated. Among them the prices of corn wheat and soybeans increased significantly all
hitting record highs but the trend varied throughout the year the price of early rice rose while the price of middle
and late rice fell and six provinces launched the minimum purchase price plan for rice. It is expected that
domestic grain prices will continue to maintain a high level in 2022 and the characteristics of superior grain and
superior price will be more obvious.In 2021 from the perspective of the international market operation the global rice supply was abundant and the
international market price dropped slightly; the main wheat exporting countries reduced production and the
international wheat price rose strongly. The global corn demand was strong and prices had narrow fluctuations
after rising and falling. The supply of soybeans was tight at first but then loose and the price rose at first and then
fell. Judging from the operation of the domestic market the supply of rice was abundant and the price has dropped
as a whole; the demand for wheat forage increased significantly and the new wheat had a high price; corn
12深圳市深粮控股股份有限公司2021年年度报告全文
production and demand had slight surplus the price had wide fluctuations; domestic soybean output declined so
the price ran at high levels.(ii) The major impact of newly promulgated laws administrative regulations departmental rules and industry
policies on the industry.On February 15 2021 the State Council announced that the revised Regulations on the Administration of Grain
Circulation (hereinafter referred to as “the Regulations”) would come into force on April 15 2021. The revision of
the Regulations is not only a continuation of previous policies but also an adaptation to the new changes new
features and new requirements of the grain circulation situation in the new era which indicates that China’s grain
circulation work has entered a more standardized and legalized track and is of great significance to promote
governance ability and management level of grain circulation protect the legitimate rights and interests of grain
production operator and consumer safeguard the grain market and price stability and ensure national food
security.The revised Regulations center on the shortcomings and weaknesses of the current grain circulation management
focus on key issues and outstanding issues put forward several new measures and new provisions. The first is to
clarify the main body of management. The responsibilities of grain circulation supervision and management of the
National Development and Reform Commission the National Food and Strategic Reserves Administration the
market supervision and management and the hygiene and health departments have been further clarified to avoid
overlapping functions and prevent the emergence of a “vacuum zone” of supervision. The second is to refine the
management objects. For all operators engaged in grain purchase sales storage and processing as well as feed
and industrial grain enterprises scientific and practical management methods have been determined according to
their different market behaviors. The third is to enrich the management content. Focus on major fields and key
links in grain circulation further standardize the business activities of grain operators strictly enforce
policy-based grain management optimize grain market supervision strengthen grain quality and safety
supervision and increase the content of regulations on food loss and waste. The fourth is to improve the
management methods. Improve the market monitoring and early warning system establish credit files of grain
operators further increase the punishment for illegal acts and improve the awareness of law-abiding and honesty
of grain operators. At the same time the prohibited acts are further clarified and the corresponding legal
responsibilities are regulated.II. 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
13深圳市深粮控股股份有限公司2021年年度报告全文
company overcame many adverse factors such as shortage of grain source and fluctuation of grain price under the
influence of the pandemic 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 and so on; 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 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 “Taitai Fukou” etc. Cooking oil products
include brands such as “Shenliang Fuxi” “Shenliang Jinxi” and “Youtian” etc. Tea brands mainly include
"Jufangyong" 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 Black-faced Spoonbill tea rice oil drinking water non-staple food and condiment series
etc. and the launch of Yueqiu tea wine continues 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. Its 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; The Shenliang Quality Inspection was awarded as
“Guangdong Shenzhen National Grain Quality Monitoring Station”. the subsidiary Shenliang Cold Chain provides
cold chain of food storage and distribution services to the customers and 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 "ten billion" backbone grain
enterprise in the domestic grain industry.
14深圳市深粮控股股份有限公司2021年年度报告全文
(1)Operation mechanism
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 “operational management and control” to “strategic management andcontrol”. In business control through the own information management system realizes a seamless link between
the “operation” and “planning capital quality inspection inventory risk control and discipline” building a strict
“six-in-one” system of controlling to effectively reduce 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 “talent strengthening 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 EVA 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 "Community Automatic Grain Sales Stations" 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 Beige has established a one-stop distribution
service platform serving large end customers providing high-quality and safe smart group meal food services for
group users such as enterprises schools and government institutions. In terms of comprehensive tea drinking
services its subsidiary Shenbao Investment has launched a micro-complex "Cha Mi Xiang Qi" with a
combination of "light drinks" "light food" and "light retail" functions.
(3) Information technology
15深圳市深粮控股股份有限公司2021年年度报告全文
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 Information System
(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 more than 30 information systems have been developed and are operating
normally.
(4) R&D capabilities
The company has strong research and development capabilities in the field of food and beverage gathers leading
technological advantages and equipment systems. The subsidiary Shenbao Huacheng owns the 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 independently researched and developed more than 50 patented
technologies for tea powder tea concentrated juice and plant extraction published more than 30 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 a national standards "GBT 21733-2008 Tea Drinks" and two industry standards i.e. "Tea
Concentrated Juice for Food Industry - Light Industry Standard QB-T 4068- 2010" and "Instant Tea Powder for
Food Industry - Light Industry Standard QB-T 4067-2010". Wuhan Jiacheng Company is a national-level
high-tech enterprise a supporting unit of Hubei Food Fermentation Engineering Technology Research Center a
key backbone enterprise in the national biological fermentation industry a unit undertaking national agricultural
transfer funds innovation funds and major key projects and has participated in drafting a number of national
standards industry development plans and related policies and has published more than 30 papers 3 monographs
and has 8 national patents for invention.
(5) Quality control
The company implements grain and oil quality standards that are higher than national standards. The subordinate
16深圳市深粮控股股份有限公司2021年年度报告全文
SZCG Quality Inspection has the leading grain and oil quality inspection technology and equipment in the
domestic grain industry and is included in the national grain quality supervision and inspection system. It was
awarded the "Guangdong Shenzhen National Grain Quality 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 total number of certified testing capability
items is 756. Shenliang Quality Inspection listing 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 ability to
detect four types of indicators of generic quality storage quality food security & quality and other four types of
indicators of testing capacity the detection capability can meet the relevant quality detection requirements of grain
and oil products and can accurately analyze the nutritional composition and hygienic indicators of the grain and
determine its storage and edible quality. It has created the "digital laboratory" 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. Subsidiary Shenbao Huacheng Company
has established a quality control system recognized by large international food and beverage companies and has
successfully passed the quality certification of global suppliers of Coca-Cola Lipton Kraft Suntory and Nestlé.Subsidiary Wuhan Jiacheng Company’s series of products have passed the certification of European Organic
Products (EOP) US National Organic Program and other relevant system certification and also obtained the
product registration certificate of Russian red currant and special registration certificate of US FDA products for
import etc.
(6) Brand effectThe company was awarded the "Top 500 Service Enterprises in China" “China’s Most Influential Grain & OilGroup” "China Top Ten Grain and Oil Groups" "China Top 100 Grain and Oil Enterprises" "National Leading
Enterprise Supporting Grain and Oil Industrialization" “National Quality Benchmark” and “Top 10 Food DigitalTechnology Applications”. It has been selected as one of the “First Batch of National Emergency Food SecurityEnterprises” “Top 100 Agricultural Industrialized Head Enterprises in China” “Top 10 Head Enterprise in theGrain Industry” and “The National Demonstration Enterprise of Assured Gain & 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 Teabank” “Jufangyong” “Cha Mi Xiang Qi” “Sanjing”
“www.zglsjy.com.com” and “doximi.com” and gradually build an industrial system with complete “rice” + “tea”
elements.
17深圳市深粮控股股份有限公司2021年年度报告全文
IV. Main business analysis
1. Overview
th
2021 was the first year for the implementation of the “14 Five-Year Plan” strategic plan and was also a key and
critical year for the three-year reform of state-owned enterprises. The company insisted on integrating the party’s
leadership into corporate governance insisted on integrating the company’s strategy into the national strategy and
adhered to the main responsibility and main business of food supply chain security focused on strategic goals
resolutely explored the beneficial practice of enterprise reform and the stable and coordinated advancement of the
food supply chain comprehensively implemented various reform and development tasks and steadily took solid
th
steps in the first year of the “14 Five-Year Plan”. Achieving the operating revenue of 10.14 billion yuan for year
of 2021 a y-o-y decline of 14.68%; total profit was 516 million yuan a y-o-y growth of 12.73%; the net profit
attributable to shareholder of listed company was 429 million yuan a y-o-y increase of 5.83%.
(1)Main business development
During the reporting period the company based on its own advantages and industrial development used
information technology innovated and opened up the grain and oil products supply channels and trading methods
created a new pattern for tea and food business industry built a multi-group and multi-channel food supply chain
and service network expanded the effective supply of medium- and high-end grain oil and food and aims to
meet people's needs of "quality diversity nutrition health green and convenience" and promoted the
transformation of grain and oil products from "eat full" to "eat well". The company continues to focus on grain
circulation services and completes grain and oil supply services with quality and quantity by actively building
supply chains continuously extending the industrial chains innovating business models and upgrading the
industrial value chains the development of the main grain and oil business continues to improve.
(2) Progress of key projects
The Northeast Grain Source Base integrates resources according to the operational needs Shuangyashan
Company completed the absorption and merger of Hongxinglong Company further compressing the property
rights layer and strengthening the management the rice processing plan in grain industrial park was steadily under
construction.The construction and operation of Dongguan grain logistics nodes achieved a new leap forward completed the
equity acquisition and incorporated into the construction planning of Guangdong-Hong Kong- Macao Greater Bay
Area Grain Emergency Security Center the comprehensive guarantee capacity of the grain storage and logistics is
more reliable.(iii) Sustainable and innovative development
During the reporting period the company deeply integrated a new generation of information technologies such as
18深圳市深粮控股股份有限公司2021年年度报告全文
the Internet of Things cloud computing big data mobile internet and artificial intelligence with the enterprise
operation and management by increasing the application of informatization innovation achievements.th
Scientifically formulated the “14 Five-Year” digital construction plan and successively implemented new retail
membership management and payment management grain reserve purchase and sales plan management (phase II)
financial sharing center engineering management information system and human s-HR system (phase IV) party
building information management platform “one enterprise one screen” intelligent management platform (phase
II) network and information security level protection 2.0 and other projects accelerated the transformation of
business management mode with digital thinking strengthened the penetration of digital technology ran through
business processes multi-level application scenarios of management process and fully empowered enterprise
value chain and smart supply chain. Up to now the company has developed and operated more than 30
information systems.(iv) Other key tasks
The first was to focus on people’s well-being. Focused on expanding the grain oil and food industry meeting the
requirements of new markets new demands and new consumption and building a higher quality assurance system
and vigorously implemented a number of high-quality grain projects. Acquired 51% equity of Wuhan Jiacheng
Company entered the high-tech industry of biological fermentation integrated “red yeast rice + grain” and
entered the field of health from “grain” to “food”; opened the first smart group meal created a chain new brand of
“Zhen Shi Hui”; coordinated and promoted the smart food industry (Huizhou) project to lead the upgrading of the
regional food industry; the flour company absorbed and merged the Dongguan Industry and Trade Companycomprehensively integrated production capacity and strived to build “the leading enterprise group in the firstcamp of special flour in South China”; Hualian Company promoted the construction of “Liang Qiao Network”
with the help of DCE to build a one-stop spot trading platform for grain and agricultural products; Big Kitchen
Company actively participated in the centralized purchasing and centralized distribution project of rice noodles
and oil in Shenzhen school canteens to help promote the governance reform of school canteens; Cold Chain
Company achieved new breakthroughs in the expansion of external warehouse business and newly added
Fenggang City Distribution Center and Guangzhou Huangpu Warehouse; Shenbao Huacheng passed the national
high-tech enterprise qualification certification and added 3 new patents for invention within the year and made
positive progress in 4 annual research projects; Shenbao Investment enriched the tea gift product series and the
tea gift business doubled; Shenliang Food improved its product structure and promoted the research and
development of new products and the beverage and condiment business gradually recovered from the impact of
the pandemic.The second was to cultivate well-known brands. Strengthened brand leadership actively explored and cultivated
excellent public brands relied on quality to win recognition reputation and market share and formed a series of
high-quality grain and oil products centered on China Good Grain and Oil Shenzhen Well-known Brands and
Shenzhen Products. During the year it was awarded 1 Shenzhen Well-known Brand 16 new Shenzhen Products.At the same time we did a good job in channel construction built an economical efficient and convenient sales
19深圳市深粮控股股份有限公司2021年年度报告全文
network so that good grain and oil can be brought to the dining-table.The third was to strengthen corporate governance. Unswervingly implemented the new development concept
focused on improving the system and mechanism of the modern enterprise system with Chinese characteristics
innovative development system and mechanism and enterprise compliance management system and effectively
transformed the institutional advantages into the driving force for improving governance efficiency and achieving
high-quality development. Sorted out the “Four Lists” of corporate governance explored self-operation
management of subordinate enterprises amoeba operation and other management and control modes formulated
project management and control systems improved procurement work guidelines refined import business and
fund management risk points actively promoted the integration of business and finance and improved the quality
of information disclosure.The fourth was to improve human resources efficiency. Implemented an active open and effective talent gathering
policy and continuously improved a flexible and efficient talent training support mechanism a scientific and
practical talent classification evaluation mechanism and an innovation incentive mechanism; built a talent supply
chain by classification and stratification and completed the tenure system and contracting management of
managers at all levels built an “internal talent market” optimized talent exchange and rotation; practiced the
concept of innovation-driven development and introduced “innovation factors” in the EVA assessment.
2. Revenue(Income) and cost
(1) Constitute of operating revenue
Unit: RMB/CNY
20212020
Ratio in Ratio in Increase/decrease
Amount operating Amount operating y-o-y (+-)
revenue revenue
Total operating revenue 10139563710.11 100% 11884527506.34 100% -14.68%
According to industries
Wholesale and retail 8364236216.21 82.49% 10366006873.93 87.23% -19.31%
Leasing and business 1003311609.05 9.90% 928509293.46 7.81% 8.06%
services
Manufacturing 772015884.85 7.61% 590011338.95 4.96% 30.85%
According to products
Grain & oil trading and 8898880048.64 87.76% 10759070663.03 90.53% -17.29%
processing
Grain & oil storage 883450005.50 8.71% 813243753.62 6.84% 8.63%
logistics and services
20深圳市深粮控股股份有限公司2021年年度报告全文
Food beverage and tea 237372052.42 2.34% 198163247.35 1.67% 19.79%
processing
Leasing and others 119861603.55 1.19% 114049842.34 0.96% 5.10%
According to region
Domestic market 10096185227.04 99.57% 11849028935.33 99.70% -14.79%
Exportation 43378483.07 0.43% 35498571.01 0.30% 22.20%
According to sale model
(2) Industries products regions and sales model that account for more than 10% of the operating revenue
or operating profit of the Company
√ Applicable □Not applicable
Unit: RMB/CNY
Increase/decr
Gross Increase/decrea Increase/decrea
ease of gross
Operating revenue Operating cost profit se of operating se of operating
profit ratio
ratio revenue y-o-y cost y-o-y
y-o-y
According to industries
Wholesale and 8364236216.21 7828435792.29 6.41% -19.31% -20.86% 1.84%
retail
According to products
Grain & oil 8898880048.64 8367639055.64 5.97% -17.29% -18.69% 1.62%
trading and
processing
According to region
Domestic market 10096185227.04 8832723115.03 12.51% -14.79% -17.44% 2.80%
According to sale model
Under circumstances of adjustment in reporting period for statistic scope of main business data adjusted main business based on
latest one year’s scope of period-end
□ Applicable √Not applicable
(3) Revenue from physical sales larger than revenue from labors
√ Yes □ No
Increase/decrease
Industries Item Unit 2021 2020
y-o-y (+-)
Wholesale and Sales volume Ton 3195514.47 4197687.87 -23.87%
retail Storage Ton 1172796.47 1255984.4 -6.62%
Reasons for y-o-y relevant data with over 30% changes
21深圳市深粮控股股份有限公司2021年年度报告全文
□ Applicable √Not applicable
(4) Performance of significant sales contracts major procurement contract entered into by the company up
to the current reporting period
□ Applicable √ Not applicable
(5) Constitute of operation cost
Classification of industries and products
Unit: RMB/CNY
20212020
Increase/decr
Amount Ratio in Amount Ratio in
Industries Item ease y-o-y
operation operation cost
(+-)
cost
Wholesale and Raw 7828435792.29 88.36% 9892157934.22 92.23% -20.86%
retail materials
Unit: RMB/CNY
20212020
Increase/decr
Amount Ratio in Amount Ratio in
Products Item ease y-o-y
operation operation cost
(+-)
cost
Grain & oil trading Raw 8280585686.32 93.47% 10254279332.43 95.95% -19.25%
and processing materials
Grain & oil trading Labor wage 26124548.68 0.29% 6188358.99 0.06% 322.16%
and processing
Grain & oil trading Cost of 60928820.64 0.69% 30088207.55 0.28% 102.50%
and processing production
Explanation
N/A
(6) Whether the changes in the scope of consolidation in Reporting Period
√Yes □No
During the reporting period newly established the Dongguan Shenliang Hualian Grain & Oil Trading Co. Ltd acquired the Wuhan
Jiacheng Biotechnology Co. Ltd and cancellation of the Heilongjiang Hongxinglong Nongken Shenxin Cereals Industrial Park Co.ltd and Shenzhen Shenbao Property Management Co. Ltd.
(7) Material changes or adjustment for products or services of the Company in reporting period
22深圳市深粮控股股份有限公司2021年年度报告全文
□ Applicable √ Not applicable
(8) Major sales clients and main suppliers
Major sales clients of the Company
Total top five clients in sales (RMB) 2819763997.71
Proportion in total annual sales volume for top five clients 27.80%
Proportion in total annual sales volume for related sales
0.00%
among top five clients
Top five clients of the Company
Serial Name Sales (RMB) Proportion in total annual sales
1 Client I 1301742675.55 12.84%
2 Client II 474730067.61 4.68%
3 Client III 436463701.50 4.30%
4 Client IV 313420181.38 3.09%
5 Client V 293407371.67 2.89%
Total -- 2819763997.71 27.80%
Other explanation on main clients
□ Applicable √ Not applicable
Main suppliers of the Company
Total purchase amount from top five suppliers (RMB) 2829679855.63
Proportion in total annual purchase amount for top five suppliers 31.75%
Proportion in total annual purchase amount from related purchase
0.00%
among top five suppliers
Top five suppliers of the Company
Proportion in total annual sum of
Serial Name Sum of purchase (RMB)
purchase
1 Supplier I 985235080.81 11.05%
2 Supplier II 498478693.52 5.59%
3 Supplier III 481827291.05 5.41%
4 Supplier IV 463206372.50 5.20%
5 Supplier V 400932417.75 4.50%
Total -- 2829679855.63 31.75%
Other explanation on main suppliers
□ Applicable √ Not applicable
23深圳市深粮控股股份有限公司2021年年度报告全文
3. Expenses
Unit: RMB/CNY
Increase/decreas
2021 2020 Note of major changes
e y-o-y (+-)
Sales expenses 250216473.67 201304842.30 24.30%
Administration
300735585.34285083453.915.49%
expenses
Engineering project was transferred
to fixed assets in the previous year
Financial expenses 56368586.68 14907763.94 278.12%
and the expense-based interest
increased
R&D expenses 20689494.13 16617944.25 24.50%
4. R &D investment
√ Applicable □ Not applicable
Expected impact on the
Projects Purpose Progress Goals to be achieved future development of the
CompanyThe “One enterprise onescreen” management
Based on the first A better presentation of theSZCH “One platform (Phase II) hasphase upgrading and Company’s business
enterprise one better functions more
optimized the function highlights andscreen” real-time data display moreof “One enterprise Completed characteristics andmanagement beautiful system interfaceone screen” provides a data support for
platform (Phase and can well show the
management platform the superior to guide the
II) development Company’s business
(Phase II) business decisions
highlights and
characteristics
SZCH grain To meet the provincial anddepot “data municipal requirements for Further enhance theaccess video Intelligent upgrade of grain depot “data access intelligent managementaccess” all owned and leased Completed video access” also to standards of the grain depot
management warehouses enhance the intelligent and better meet the superior
system management standards of regulatory requirement
development the grain depot
Carrying out the Obtain the network security
SZCH network Further improve the
construction of grading protection 2.0
security grading network security grading
network security Completed certificate and further
protection 2.0 protection and enhance the
grading protection 2.0 reinforced the network
construction capability in network
by strengthening the security grading protection
24深圳市深粮控股股份有限公司2021年年度报告全文
network hardware and of the Company security protection
software construction
Based on the phase III Further optimized the
SZCH human
further optimized the functional modules of
resources
functional modules human resources Further enhance the digital
management Completed
according to the management system to management of the HR
system (phase
individual needs of the meet the business needs of
IV) development
Company HR
Adding the module of
SZCH discipline “integrity profile” for Further improve the daily
& integrity file middle management supervision system based Further enhance the
management personnel to the Completed on the implementation of intelligent supervisionsystem “discipline inspection work requirements of the standards of the Companydevelopment information platform” higher level
already built
Implementing the
Lays out the foundation of
reserve policy
SZCH data management for the
requirements by Further meeting the
optimization of own development
increasing the business needs and
the supply chain requirements such as
inventory commodity optimized the current
management undertaking the multiple
attributes and In progress supply chain systems and
system and attributes of grain and oil
accounting items for modification of
modification of products and financial
grain and oil products intermediate service
intermediate accounting of different
etc. with systematic interface
service interface attributes of grain and oil
and forward-looking
products in the future
thinking
Adding the purchase
sales and inventory
SZCH purchase plan management
sales and module for grain and
Further strengthen the
inventory plan oil products on based Further enhance the digital
accuracy and timeliness of
management of the the supply chain management capability of
In progress the grain and oil products
system (phase II) system including plan the grain and oil products
purchase and sales plan
development for preparation plan purchase and sales planning
filling and approval
the grain and oil filling plan
products monitoring plan
review and plan
analysis etc.SZCH new retail To serve the new retail Realize the functions of Service the Company to
membership business development information collection build a strategic goals ofmanagement and model and better adapt In progress consumer insight value “intelligent grain oil andpayment to the consumer habits analysis and accurate reach food supply chain qualitymanagement enhance the consumer in one by using the new service provider”
25深圳市深粮控股股份有限公司2021年年度报告全文
system experience in generation information
development for purchasing while technology of big data and
the new retail further strengthening mobile internet
the unified
management of
membership data and
payment data to
achieved an accurate
marketing and
scientific
decision-making
Personnel of R&D
2021 2020 Change ratio(+-)
Number of R&D (people) 113 93 21.51%
Ratio of number of R&D 8.84% 7.46% 1.38%
Educational background —— —— ——
Undergraduate 58 46 26.09%
Master 26 18 44.44%
Age composition —— —— ——
Under 30 36 34 5.88%
30~4039368.33%
Investment of R&D
2021 2020 Change ratio(+-)
R&D investment (RMB) 84730659.76 46739359.46 81.28%
R&D investment/Operation
0.84%0.39%0.45%
revenue
Capitalization of R&D
0.000.000.00%
investment (RMB)
Capitalization of R&D
0.00%0.00%0.00%
investment/R&D investment
Reasons and effects of significant changes in composition of the R&D personnel
□Applicable √Not applicable
The reason of great changes in the proportion of total R&D investment accounted for operation income than last year
□ Applicable √ Not applicable
Reason for the great change in R&D investment capitalization rate and rational description
□ Applicable √ Not applicable
26深圳市深粮控股股份有限公司2021年年度报告全文
5. Cash flow
Unit: RMB/CNY
Increase/decrease y-o-y
Item 2021 2020
(+-)
Subtotal of cash in-flow from
11397219997.6611669207152.35-2.33%
operation activity
Subtotal of cash out-flow from
10956823968.1211382678930.08-3.74%
operation activity
Net cash flow arising from
440396029.54286528222.2753.70%
operating activities
Subtotal of cash in-flow from
517815659.81887924327.47-41.68%
investment activity
Subtotal of cash out-flow from
1061777870.59985312767.837.76%
investment activity
Net cash flow from investment
-543962210.78-97388440.36-458.55%
activity
Subtotal of cash in-flow from
3191992562.341252948640.66154.76%
financing activity
Subtotal of cash out-flow from
3229400452.401406472553.17129.61%
financing activity
Net cash flow arising from
-37407890.06-153523912.5175.63%
financing activity
Net increased amount of cash and
-141124145.7435539468.09-497.09%
cash equivalent
Reasons for y-o-y relevant data with major changes
√ Applicable □ Not applicable
(1)The cash in-flow from investment activity decreased by 41.68% compared with the same period last year mainly due to the
decrease in financial investment during the period;
(2)The cash out-flow from investment activity increased by 7.76% compared with the same period last year mainly because the
minority interest of Dongguan Logistic are acquired in the Period and the investment expenses on Wuhan Jiacheng;
(3) The cash in-flow from financing activity increased by 154.76% compared with the same period last year mainly due to the
increase in streaming loans in the Period;
(4)The cash out-flow from financing activity increased by 129.61% compared with the same period last year mainly due to increase
in streaming loan repayment in the Period;
Reasons of major difference between the cash flow of operation activity in report period and net profit of the Company
□ Applicable √ Not applicable
27深圳市深粮控股股份有限公司2021年年度报告全文
V. Analysis of the non-main business
√ Applicable □ Not applicable
Unit: RMB/CNY
Amount Ratio in total profit Description of formation Whether be sustainable
Investment income 4289604.50 0.83% Unsustainable
Gains/losses of fair
299292.76 0.06% Unsustainable
value variation
Provision for the decline in
Asset impairment -184486526.84 -35.74% Unsustainable
value of inventories
Non-operating Compensation for
14640665.53 2.84% Unsustainable
income expropriation
Non-operating
1505363.93 0.29% Unsustainable
expense
Disposal of the houses and
Assets disposal 29437150.82 5.70% Unsustainable
buildings of Yingkou
VI. Analysis of assets and liability
1. Major changes of assets composition
Unit: RMB/CNY
Year-end of 2021 Year-begin of 2021
Ratio in Ratio Ratio
Notes of major changes
Amount total Amount in total changes
assets assets
Monetary fund 50409923.65 0.66% 190494225.94 2.61% -1.95%
Account
283047341.623.69%198311102.172.71%0.98%
receivable
Contract assets 0.00% 0.00% 0.00%
Inventory 3460618674.81 45.12% 3418328974.27 46.75% -1.63%
Investment real
233096698.493.04%253037899.573.46%-0.42%
estate
Long-term
equity 73490443.49 0.96% 73215147.84 1.00% -0.04%
investment
Parts of the project in
Fix assets 2127831149.19 27.74% 1122692490.55 15.36% 12.38% Shenliang Dongguan Grain
Logistic were transferred to
28深圳市深粮控股股份有限公司2021年年度报告全文
fixed assets
Parts of the project in
Construction in Shenliang Dongguan Grain
207946539.972.71%1045643295.5714.30%-11.59%
progress Logistic were transferred to
fixed assets
Parts of the new project in
Right-of-use
97648674.06 1.27% 2120031.14 0.03% 1.24% the lease of Fenggang
assets
storage
Short-term Increase in streaming loans
504766782.256.58%110318727.121.51%5.07%
loans in the Period
Contract
182972314.852.39%108975866.821.49%0.90%
liability
Long-term
730521692.229.52%841864531.7511.51%-1.99%
loans
Parts of the new project in
Lease liability 80173743.75 1.05% 1839885.54 0.03% 1.02% the lease of Fenggang
storage
Foreign assets account for a relatively high proportion
□ Applicable √ Not applicable
2. Assets and liability measured by fair value
√ Applicable □ Not applicable
Unit: RMB/CNY
Accum
ulative Devalua
Changes of Amou
change tion of
Amount at the fair value Amount of nt of Other
s of fair withdra Amount in the end
Item beginning gains/losses purchase in the sale in chang
value wing in of period
period in this period the es
reckon the
period period
ed into period
equity
Financial
assets
1.Trading
financial
assets
(excluding 160621806.51 438963.99 50000000.00 211060770.50
derivative
financial
assets)
29深圳市深粮控股股份有限公司2021年年度报告全文
Other
non-current
57500.0057500.00
financial
assets
Aforementi
160679306.51438963.990.000.0050000000.000.000.00211118270.50
oned total
Financial
0.000.000.000.000.000.000.000.00
liabilities
Other change
N/A
Whether there have major changes on measurement attributes for main assets of the Company in report period or not
□ Yes √No
3. The assets rights restricted till end of the period
Item Book value at
Reasons for restriction
period-end
Monetary fund 1039843.45 Guarantee deposit and credit deposit etc.According to the long-term loan mortgage contract signed by Dongguan
Logistics a subsidiary of the Company with Shenzhen Branch of Agricultural
Development Bank and Huizhou Zhongkai Sub-branch of HSBC Dongguan
Logistics has subordinate mortgaged the real estate property rights of the
Fix assets 508407161.32 structures of Yue (2020) Dongguan Property Right No. 0127118 Yue (2020)
Dongguan Property Right No. 0127119 Yue (2020) Dongguan Property Right
No. 0127120 and Yue (2020) Dongguan Property Right No.0119705 at No. 10
Jingang South Road Machong Town Dongguan City and other aground
buildings as collateral for the loan.According to the long-term loan mortgage contract signed by Dongguan
Logistics a subsidiary of the Company with Shenzhen Branch of Agricultural
Development Bank and Huizhou Zhongkai Sub-branch of HSBC Dongguan
Logistics has subordinate mortgaged the real estate property rights of the
Intangible assets 44245302.46 structures of Yue (2020) Dongguan Property Right No. 0127118 Yue (2020)
Dongguan Property Right No. 0127119 Yue (2020) Dongguan Property Right
No. 0127120 and Yue (2020) Dongguan Property Right No.0119705 at No. 10
Jingang South Road Machong Town Dongguan City and other aground
buildings as collateral for the loan.According to the loan contract Yue DG2017 NGDZ No. 006 signed by
Dongguan Food Industrial Park a subsidiary of the Company with Bank of
Communications Co. Ltd. Dongguan Branch Dongguan Food Industrial Park
Intangible assets 33096312.71
has mortgaged its two pieces of land "DFGY (2009) DT No. 190" and "Yue
(2020) Dongguan Real Estate Right No. 0321771" to the Bank of
Communications Co. Ltd. Dongguan Branch as loan collateral.Intangible assets 35002719.11 According to the long-term loan mortgage contract signed by Dongguan
30深圳市深粮控股股份有限公司2021年年度报告全文
Logistics a subsidiary of the Company with Dongguan Branch of CMB
Dongguan Logistics has mortgaged the real estate property rights of the
structures of Yue (2016) Dongguan Property Right No. 0028527 at No. 10
Jingang South Road Machong Town Dongguan City to Dongguan Branch of
CMB.Total 621791339.05
VII. Investment analysis
1. Overall situation
√ Applicable □ Not applicable
Investment in the same period of last
Investment in reporting period (RMB) Changes (+-)
year (RMB)
540741002.73548035686.02-1.33%
2.The major equity investment obtained in the reporting period
√ Applicable □ Not applicable
Unit: RMB/CNY
Inves
Progr With
tment
ess as Antic lawsu Discl Discl
Inves Form Inves Share Capit gains
Main Time of the ipate it osure osure
ted of tment holdi al Partn /losse
busin horiz Type balan d invol date index
comp inves amou ng sourc er s in
ess on ce inco ved (if (if
any tment nt ratio e the
sheet me (Y/N any) any)
Perio
date )
dProfe “Acqssion uisiti
al on of
Dong bulk the
guan cargo 49%
Shenl termi equit
Acqu 3216 Own Com 1331 1776
iang nal 49.00 2021- y of
isitio 8000 ed - - - plete 9542 7334 N
Logis handl % 06-02 Dong
n 0.00 fund d .33 .23
tics ing guan
Co. and Shenl
Ltd. ware iang
house Logis
stora tics
ge Co.
31深圳市深粮控股股份有限公司2021年年度报告全文custo Ltd.”
dial releas
servi ed on
ces Jucha
grain o
and Webs
oil ite
proce (ww
ssing w.cni
and nfo.c
qualit om.c
y n)
testin
g
servi
ces
of
grain
and
oil
feeds
agenc
y
servi
ces
of
impo
rt &
expor
t
custo
ms
decla
ration
and
inspe
ction
of
good
s
321613311776
Total -- -- 8000 -- -- -- -- -- -- 9542 7334 -- -- --
0.00.33.23
32深圳市深粮控股股份有限公司2021年年度报告全文
3.The major non-equity investment carrying in the reporting period
√ Applicable □ Not applicable
Unit: RMB/CNY
Reaso
ns for
Accum failure
Incom
Wheth ulated to
Industr e
er it is actual achiev
y with Amou accum Date Disclo
Invest the input Expect e
the nt Capital ulated of sure
ment fixed as of Progre ed planne
Item invest input source at end disclos index
metho assets the ss earnin d
ment in the s of the ure (if (if
d invest end of gs progre
involv period reporti any) any)
ment reporti ss and
ed ng
(Y/N) ng expect
period
period ed
benefit
s
Logisti
c node
project
phase Owned
II and Storag 13542 1093 Funds
Self-b 114.00
silo Y e and 3900. 96886 and - - - -
uild %
and wharf 00 9.78 Bank
wharf Loans
of
Shenli
ang
135421093
Total -- -- -- 3900. 96886 -- -- - - -- -- --
009.78
4. Financial assets investment
(1) Securities investment
√ Applicable □ Not applicable
Unit: RMB/CNY
Short Acco Book Chan Cumu Curre Curre Profit Book
Variet Code Initial Acco Capita
form unting value ges in lative nt nt and value
y of of invest unting l
of measu at the fair fair purch sales loss at the
securi securi ment subjec Sourc
securit remen begin value value ase amou in the end of
ties ties cost t e
ies t ning of the chang amou nt Repor the
33深圳市深粮控股股份有限公司2021年年度报告全文
model of the curren es in nt ting period
period t equity Perio
profit d
and
loss
Dome
Fair Trada
stic Debt
value ble
and 00001 Zhong 6218 2992 2992 9210 resche
0.00 measu 0.00 0.00 0.00 financ
overs 7 hua-A 06.51 92.76 92.76 99.27 duled
remen ial
eas shares
ts assets
stock
6218299229929210
Total 0.00 -- 0.00 0.00 0.00 -- --
06.5192.7692.7699.27
Disclosure date of
securities investment Not applicable
approval of the Board
Disclosure date of
securities investment
approval of the Not applicable
Shareholder Meeting (if
applicable)
(2) Derivative investment
□ Applicable√Not applicable
The Company has no derivatives investment in the Period
5. Application of raised proceeds
□ Applicable√Not applicable
The Company has no application of raised proceeds in the Period
VIII. 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
34深圳市深粮控股股份有限公司2021年年度报告全文
IX. Analysis of main holding Company and stock-jointly companies
√ Applicable□Not applicable
Particular about main subsidiaries and stock-jointly companies net profit over 10%
Unit: RMB/CNY
Company Main Register Total Operating Operating
Type Net assets Net profit
name business capital assets revenue profit
Grain &
Shenzhen oil trading
Cereals processing 1530000 7365242 4006119 9756777 43445083 36703030
Subsidiary
Group Co. Grain and 000 196.48 280.75 378.23 4.27 2.12
Ltd oil reserve
service
Shenzhen
Hualian
Grain & 10000000 1289084 36858439 3580112 13052631 11007881
Grain and Subsidiary
oil trading 0 314.66 0.44 450.41 3.95 3.92
Oil Trading
Co. Ltd.Grain &
Shenzhen
oil trading 1285878 11392107 2665817 62111962 50522787
Flour Co. Subsidiary 30000000
and 993.29 4.41 210.11 .87 .38
Ltd
processing
Particular about subsidiaries obtained or disposed in report period
√ Applicable □ Not applicable
The way of getting and treating Influence on overall product and
Company name
subsidiary in the reporting performance
Heilongjiang Hongxinglong Nongken Shenxin
Cancellation
Cereals Industrial Park Co. ltd
Shenzhen Shenbao Property Management Co.Cancellation
Ltd
Dongguan Shenliang Hualian Grain & Oil
Newly established 12120.68 yuan
Trading Co. Ltd.Wuhan Jiacheng Biotechnology Co. Ltd Acquisition 2854540.09 yuan
Explanation on main holding/stock-jointly enterprise:
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
35深圳市深粮控股股份有限公司2021年年度报告全文
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 was 1530000000.00 Yuan. Ended as this period total assets amounted as
7365242196.48 Yuan and net assets amounting to 4006119280.75 Yuan shareholders’ equity attributable to parent Company is
3795605773.34 Yuan; in the reporting period achieved operation revenue net profit and net profit attributable to shareholder of
parent Company as 9756777378.2 Yuan 367030302.12 Yuan and 344364720.75 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 was 100000000.00 Yuan. Ended as this
period total assets amounted as 1289084314.66 Yuan and net assets amounting to 368584390.44 Yuan shareholders’ equity
attributable to parent Company is 340887703.77 Yuan;in the reporting period achieved operation revenue net profit and net profit
attributable to parent Company as 3580112450.41 Yuan 110078813.92 Yuan and 106590189.18 Yuan respectively.Shenzhen Flour Co. Ltd: Business scope: general business items: hardware and electrical equipment chemical products (excluding
hazardous chemicals and restricted items) auto parts purchase and sales of construction materials; self-operated import and export
business (carry out according to the provisions of the registration certificate SMGDZZ No. 76); domestic trade (excluding franchise
exclusive control monopoly commodities); wheat wholesale and retail. Licensed business items: following items shall be operated
only with the relevant examination and approval documents if they are involved in obtaining approval: flour processing and
production. Register capital was 30000000.00 Yuan. Ended as this period total assets amounted as 1285878993.29 Yuan and net
assets amounting to 113921074.41 Yuan shareholders’ equity attributable to parent Company is 113921074.41 Yuan; in the
reporting period achieved operation revenue net profit and net profit attributable to parent Company as 2665817210.11 Yuan
50522787.38 Yuan and 50522787.38 Yuan respectively.
X. Structured vehicle controlled by the Company
□ Applicable √ Not applicable
XI. Prospects on future development
(i) Development trend and competition layout of the industry
At present the domestic grain and oil trade processing and logistics industries are full-circulation sectors with
high degree of marketization numerous participating companies and fierce competition. Central enterprises and
large local grain enterprises have relatively complete warehousing and logistics facilities and enjoy a number of
national policies; in recent years a large number of outstanding national and regional private grain enterprises
36深圳市深粮控股股份有限公司2021年年度报告全文
have come to the fore; with the development of China’s grain marketization foreign grain enterprises have
emerged in our country's grain market and further intensified the competition in the grain and oil industry by
relying on abundant resources strong financial strength and mature management experience. The grain industry in
Shenzhen is developing vigorously there are many grain and oil processing enterprises with a certain scale and
many small and medium-sized enterprises in the area with the advancement of the "dual-zone construction" the
population of cities in the Pearl River Delta has increased and people's living standards have improved the
competition in the food market is orderly and unprecedentedly fierce.(ii) The company’s development strategy
th
During the 14 Five-Year Plan the Company will focus on the main business of grain oil and food conform to
the country’s new development requirements for the grain industry i.e. “agriculture head and industry tail” “grainhead and food tail” “three chains integration” etc. seize the major historical opportunities of current significant
historical opportunities such as the construction of the Guangdong - Hong Kong - Macao Greater Bay Area andthe construction of the Shenzhen Pilot Demonstration Area and innovate the development strategy of “one chaintwo parks and N platforms” to build a regional leading “grain eastern and southern coastal logistic corridor” with
“high-quality grain source base + regional comprehensive park + urban distribution center” and create a national
first-class “smart grain oil and food supply chain quality service providers”.(iii) Operation plan for year of 2022
th
2022 is the key period of the “14 Five-Year Plan” and is also the final year of the “Double Hundred Action” and
the Shenzhen regional comprehensive reform pilot. The company will thoroughly study and implement the spirit
of the Sixth Plenary Session of the 19th Central Committee of the Communist Party of China and the clear tone of
the Central Economic Work Conference on economic work in 2022 stabilize the fundamentals highlight the
strengths firmly grasp the initiative of food security and make progress while maintaining stability adhere to
high-quality development and strive to achieve business goals. Focus on the following tasks:
1. Focus on reform and innovation and consolidate the support of modern governance capabilities
Firmly grasp the strategic positioning and historical mission of state-owned enterprises in the new era carry out
the double-hundred action three-year action and benchmarking world-class management improvement action for
the reform of state-owned enterprises and strengthen strategic management organizational management
operational management financial management science and technology management risk management human
resources management and information management and form a modern governance system with complete
systems scientific norms and efficient operation.
2. Focus on key projects and make breakthroughs to drive all-round development
Continue to research develop and promote investment projects and optimize business layout. The first is to focus
on exploring projects with high potential new trends and strong synergy and make good project reserves to lay a
solid foundation for the extension of the industrial chain and subsequent investment work. The second is to
explore new projects in grain source production areas and logistics node industrial parks and plan the company’s
37深圳市深粮控股股份有限公司2021年年度报告全文
national layout. The third is to seize the opportunity of dual-zone construction and revitalize the stock land.
3. Focus on brand building empower operations to improve quality and efficiency
Firmly promote the development of branding continuously improve the excellent brand matrix constantly
improve the quality and scale of food supply strengthen the core competitiveness innovation strength and output
capabilities of the brand serve the people with more high-quality grain and oil products with preferential prices
and lead the demonstration in grain oil and food to create a benchmark for people’s well-being.
4. Focus on party building supervision and provide strong political and disciplinary guarantees
The first is to thoroughly study and implement General Secretary Xi Jinping’s important expositions on party
building in state-owned enterprises continuously strengthen and improve party leadership and strengthen and
improve party building. The second is to effectively integrate supervision into the corporate governance system
the Party should supervise its own conduct and strengthen the self-discipline fulfill its duties with high quality
urge and promote the high-quality development of enterprises.
5. Focus on regional grain security strengthen and standardize grain and oil management
Conscientiously implement the overall national security concept and the national food security strategy focus on
key points make up for shortcomings strengthen weak points prevent risks stabilize market and ensure safety
and accelerate the construction of higher-level higher-quality more efficient and more sustainable food security
system.
6. Focus on risk prevention and control and guard the bottom line and red line of safety
Formulate and improve risk prevention and control plans comprehensively sort out and find out potential risks
put forward preventive measures and ensure the smooth progress of production operation and reform and
development of the enterprise.(iv) Possible risks
1. The risk of the impact of the COVID-19 epidemic
The global spread of the COVID-19 epidemic has affected macroeconomic operations to varying degrees. The
epidemic making the economy unpredictable and uncertain which may affect the company's production trade
and industrial supply chain. The epidemic has caused increases in various costs such as raw material costs labor
costs and logistics costs. In response to this risk the company will unswervingly do a good job of epidemic
prevention and strictly implement various epidemic prevention measures to ensure the orderly production and
operation of the company.
2. Food safety risk
On the one hand our country is paying more and more attention to food safety and strengthening the supervision.On the other hand consumers’ awareness of food safety and rights protection is also increasing. Food safety has
become the industry’s number one risk especially after the COVID-19 epidemic consumers' attention to food
safety and cleanliness is rapidly increasing in the short term and put forward higher requirements for food
hygiene and safety.
38深圳市深粮控股股份有限公司2021年年度报告全文
The company has always regarded food quality and safety as the most important core work. The first is to strictly
implement laws and regulations related to national food safety and assume the social responsibility of supplying
high-quality and safe food to the market. The second is to strengthen the quality of raw materials and strengthen
quality control from the source. The third is to strengthen production management standardize production
operations and implement quality responsibilities. The fourth is to strengthen staff's operating skills and safety
awareness training to prevent product quality accidents caused by non-standard operations or weak food safety
awareness. The fifth is to continuously improve product quality assurance level through technological
transformation and technological progress. The sixth is to strengthen product transportation and storage
management to prevent secondary pollution of products.
3. Raw material fluctuation risk
On the one hand with the implementation of the quantitative easing policy of the US dollar and major currencies
in the world the speculative nature and hedging preferences of capital will cause social funds to flow into the bulk
commodity sector which will lead to violent fluctuations in domestic and foreign bulk commodity prices. On the
other hand with the outbreak of the COVID-19 epidemic most countries' controls on the export of agricultural
products will have a major impact on prices; at the same time the epidemic will also affect the normal operation
of the supply chain in various regions and have a direct impact on the supply of bulk agricultural and sideline
products.The company will actively respond to the risk of adverse effects of price fluctuations on the company's operations
through measures such as strengthening market forecasts establishing strategic cooperation optimizing supply
management and using refined management to improve utilization.
4. 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 the year's
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.
39深圳市深粮控股股份有限公司2021年年度报告全文
5. M&A integration risks
The company carries out investment and M&A projects in accordance with its development strategy. Whether the
M&A project can form synergy with the original business and whether the integration of corporate culture and
management methods is in place during the critical period of integration of mergers and acquisitions are the key to
the realization of the company’s strategic goals. Inadequate management and control can easily lead to merger and
acquisition risks.The company will take the following measures to prevent risks the first is to pay attention to the operation of the
merged company and the integrating degree with the company's development strategy and correct deviations in a
timely manner; the second is to pay attention to the synergy between the merged company and the company's
existing industry and coordinate the deployment of resources in a timely manner; the third is to gradually realize
the integration of systems and cultures; the fourth is to increase performance improvement and innovation
incentives and assessments for mergers and acquisitions and continuously adjust incentive policies that are
compatible with operations.XII. Reception of research communication and interview during the reporting period
□ Applicable √ Not applicable
There were no research reception communication and interview activities occurred in the period
40深圳市深粮控股股份有限公司2021年年度报告全文
Section IV Corporate Governance
I. Corporate governance of the Company
During the reporting period the Company constantly improved the corporate governance structure improved the
quality of corporate governance and established a sound internal control system strictly in accordance with
corporate governance requirements of normative documents released by the “Company Law“”Securities Law
Corporate Governance Guidelines“and”Standardize Operational Guidelines to Main Board Listed Companies of
Shenzhen Stock Exchange. The Company continued to carry out the governance activities improved the standard
operation level and safeguarded the legitimate interests of the Company and investors.Accountability among Shareholders’ General Meeting the Board of Directors and Supervisors were clear we
strictly implemented the rules from the "Articles of Association" during the reporting period as well as work
regulations and other basic management system to ensure the effective implementation of the internal control
system.The Company received no relevant documents with administrative regulation concerned from supervision
department in reporting period and has no particular about rectification within a time limit. From point of the
Board corporate governance of the Company shows no difference to requirement from relevant documents with
actual condition.Is there any difference between the actual condition of corporate governance and relevant regulations about corporate governance for
listed Company from CSRC?
□ Yes √ No
There are no differences between the actual condition of corporate governance and relevant regulations about corporate governance
for listed Company from CSRC.II. Independence of the Company relative to controlling shareholder and the actual controller
in ensuring the Company’s assets personnel finance organization and businesses
By the end of the reporting period Food Materials Group is the actual controller of the Company. The Company
in strict accordance with the governance rules of listed corporate and other relevant provisions completely
separates from the controlling shareholders in business finance personnel assets organizations and has
independent full business and self management ability.
1. Independent Business:
The business of the Company is independent from controlling shareholders and has complete business and self
41深圳市深粮控股股份有限公司2021年年度报告全文
management ability not depends on the shareholders and their affiliated enterprises which has no competition
with controlling shareholder and its subordinate enterprises. The controlling shareholder has no direct or indirect
intervention in the Company business activities.
2. Independent Staff:
The Company has special organization to manage labor and payment and has independent perfect personnel
system and collective management system. General Manager of the Company as well s deputy GM secretary of
the Board CFO and other senior executives are received remuneration from the Company and are not received
remuneration from shareholders’ unit and subordinate enterprises and holding the post except director or
supervisor.
3. Independent Assets:
The Company has independent and integrity asset structure; there is no controlling shareholder's non business
occupation of money and the property.
4. Independent Organization:
The Company has set up a sound organizational structure system and operates independently; there is no mixed
operation between the Company and controlling shareholders.
5. Financial Independent:
The Company with independent financial department has set up independent accounting system and financial
management system and makes financial decision independently. With independent bank accounts tax payment
the Company strictly follows the financial system and has independent operation and standardized management.III. Horizontal Competition
□ Applicable √ Not applicable
IV. In the report period the Company held annual general meeting and extraordinary
shareholders’ general meeting
1. Annual General Meeting in the report period
Ratio of
investor
Session of meeting Type Date Date of disclosure Resolutions
participati
on
Disclosed at
Annual General
AGM 72.03% 2021-05-18 2021-05-19 www.cninfo.com.cn on No.Meeting of 2020
2021-14" resolutions of the
42深圳市深粮控股股份有限公司2021年年度报告全文
Annual General Meeting of
2020 " dated 19 May 2021
Disclosed at
www.cninfo.com.cn on No.First extraordinary Extraordinary
2021-24" resolutions of the
general meeting of general 72.03% 2021-08-02 2021-08-03
First extraordinary general
2021 meeting
meeting of 2021" dated 3
August 2021
Disclosed at
Second www.cninfo.com.cn on No.Extraordinary
extraordinary 2021-30" resolutions of the
general 72.07% 2021-12-14 2021-12-15
general meeting of Second extraordinary
meeting
2021 general meeting of 2021"
dated 15 December 2021
2. Request for extraordinary general meeting by preferred stockholders whose voting rights restore
□ Applicable √ Not applicable
V. Directors supervisors and senior executives
1. Basic information
Shar Numb Shar
Numb
es er of es Reason
er of Othe
held shares held s for
Work shares r
at increa at increas
ing Se Ag Start dated of office End date of office decrea chan
Name Title perio sed in perio e or
statu x e term term sed in ges
d-be this d-en decrea
s this (shar
gin period d se of
period e)
(shar (share (shar shares
(share)
e) ) e)
Party Curr
Secretar ently
Zhu Ma
y in 57 2019-02-21 2022-02-21 0 0 0 0 0 -
Junming le
Chairma offic
n e
Deputy
Curr
Party
ently
Hu Secretar Ma
in 57 2019-02-21 2022-02-21 0 0 0 0 0 -
Xianghai y le
offic
Director
e
GM
43深圳市深粮控股股份有限公司2021年年度报告全文
Deputy Curr
Party ently
Lu Ma
Secretar in 59 2019-02-21 2022-02-21 0 0 0 0 0 -
Qiguang le
y offic
Director e
Curr
ently Fe
Director
Lu Yuhe in ma 44 2021-08-02 2022-02-21 0 0 0 0 -
CFO
offic le
e
Curr
Indepen ently
Zhao Ma
dent in 65 2019-02-21 2022-02-21 0 0 0 0 0 -
Rubing le
director offic
e
Curr
Indepen ently Fe
Bi
dent in ma 65 2019-02-21 2022-02-21 0 0 0 0 0 -
Weimin
director offic le
e
Curr
Indepen ently
Liu Ma
dent in 50 2019-02-21 2022-02-21 0 0 0 0 0 -
Haifeng le
director offic
e
Curr
ently
Ma
Wang Li Director in 60 2018-05-15 2022-02-21 0 0 0 0 0 -
le
offic
e
Curr
ently Fe
Ni Yue Director in ma 47 2018-05-15 2022-02-21 0 0 0 0 0 -
offic le
e
Secretar
y of Curr
Discipli ently Fe
Wang
ne in ma 54 2018-05-15 2022-02-21 0 0 0 0 0 -
Huimin
Committ offic le
ee e
Chairma
44深圳市深粮控股股份有限公司2021年年度报告全文
n of
supervis
ory
committ
ee
Curr
ently
Supervis Ma
Liu Ji in 46 2019-02-21 2022-02-21 0 0 0 0 0 -
or le
offic
e
Curr
ently Fe
Qian Supervis
in ma 49 2019-02-21 2022-02-21 0 0 0 0 0 -
Wenying or
offic le
e
Curr
Zheng Staff ently
Ma
Shengqia supervis in 54 2019-02-21 2022-02-21 0 0 0 0 0 -
le
o or offic
e
Curr
Staff ently
Ma Ma
supervis in 57 2019-02-21 2022-02-21 0 0 0 0 0 -
Zenghai le
or offic
e
Deputy Curr
GM ently
Chen Ma
Secretar in 55 2020-08-24 2022-02-21 0 0 0 0 0 -
Xiaohua le
y of the offic
Board e
Curr
ently
Deputy Ma
Xiao Hui in 43 2020-02-28 2022-02-21 0 0 0 0 0 -
GM le
offic
e
Curr
ently
Deputy Ma
Dai Bin in 57 2019-02-21 2022-02-21 0 0 0 0 0 -
GM le
offic
e
Meng Deputy Curr Ma
492019-09-112022-02-2100000-
Xiaoxian GM ently le
45深圳市深粮控股股份有限公司2021年年度报告全文
in
offic
e
Jin Former Offic Fe
Zhenyua Director e-lea ma 50 2019-02-21 2021-07-16 0 0 0 0 0 -
n CFO ving le
Total -- -- -- -- -- -- 0 0 0 0 0 --
During the reporting period whether there was any departure of directors and supervisors and dismissal of Senior Officers
√ Yes □ No
On July 16 2021 the BOD of the Company received a written resignation report submitted by Director and CFO of the Company
Ms. Jin Zhenyuan. Due to the wok transfer Ms. Jin Zhenyuan applied for resignation from the Director and CFO of the Company.Changes of directors supervisors and senior officers
√ Applicable □ Not applicable
Name Title Type Date Reason
Appointme Appointed by the general meeting of
Lu Yuhe Director CFO 2021-08-02
nt shareholders
Former Director Office-lea
Jin Zhenyuan 2021-07-16 Work transfer
CFO ving
2. Post-holding
Professional background major working experience and present main responsibilities in Company of directors
supervisors and senior executive
(i) Director
Mr. Zhu Junming: was born in 1964 master’s degree and a senior economist. He successively served as cadet and
cadre of Air Force Radar Institute; cadres of organs directly under Hubei Province; GM and President of the
enterprise under Shenzhen Agricultural Products Group Co. Ltd; the Director assistant GM deputy GM GM and
deputy party secretary of Agricultural Products; Party Secretary and Chairman of Shenzhen Cereals Group Co.Ltd; executive director and GM of Shenzhen Fude State Capital Operation Co. Ltd. Now he serves as Party
Secretary and Chairman of the Company.Mr. Hu Xianghai: was born in 1964 master’s degree and a senior economist. He successively served as the
lecturer of Shenzhen Institute of Education; director of general office of Asia Branch of the Shenzhen Huale
Industrial Co. Ltd.; director of the Shenzhen Enterprise Management Cadre Training Center; deputy secretary
general and office director of the Secretarial Shenzhen Association of Enterprise Management and Shenzhen
Association of Chinese and Foreign Entrepreneurs; director of development dept. and director of the marketing
management dept. of Shenzhen Special Economic Zone Duty-Free Commodity Enterprise Company; GM of
Temian Electronic Technology Professional Market Management Co. Ltd.; assistant to the GM and GM of
46深圳市深粮控股股份有限公司2021年年度报告全文
enterprise dept. GM deputy secretary of the party committee director and GM of Shenzhen Agricultural
Products Co. Ltd; served as the president of Shenzhen South Agricultural Products Logistics Co. Ltd. while take
post as assistant to the deputy GM and the president of Shenzhen Qianhai Agricultural Products Exchange Co.Ltd; deputy secretary of the party committee director and GM of Shenzhen Cereals Group Co. Ltd. Now he
serves as deputy secretary of the party committee director and GM of the Company.Mr. Lu Qiguang: born in 1962 a university graduate an assistant economist. He successively served as the clerk
and deputy chief of the Grain Bureau of Boluo County; an office staff and deputy director of Shenzhen Grain Co.Ltd.; the deputy director of office assistant GM and deputy GM of Shenzhen Cereals Corporation; a member of
the party committee deputy GM deputy party secretary and director of Shenzhen Cereals Group Co. Ltd and the
president of Shenzhen Flour Co. Ltd. Now he serves as the deputy secretary of the party committee and director
of the Company.Ms. Lu Yehe: born in 1977 master’s degree and CPA.She previously worked as the senior auditor of Ernst &
Young; the independent non-executive director Director and CFO of China Trends Holdings Limited; CFO of
VIEIN; Director and CFO of the Shenzhen Exhibition & Convention Center Management Co. Ltd. the Director
and CFO of Shenzhen Tong Chan Group and CFO of Shenzhen Yinhu Convention Center (Hotel) Co. Ltd. Now
she is the Director and CFO of the Company.Mr. Wang Li: born in 1961 master’s degree and an accountant. He successively served as assistant workers in
Chengdu Locomotive Factory; assistant workers in Xi’an Railway Branch; business manager vice director of the
financial department director of capital division deputy chief accountant deputy GM Director deputy party
secretary and GM of Shenzhen SEG Group Co. Ltd.; director of Shenzhen Cereals Group Co. Ltd. now he serves
as Director of the Company and Director of Shenzhen Agricultural Products Group Co. Ltd.Ms. Ni Yue: born in 1974 a master’s degree and a senior accountant. She successively served as general ledger
accountant in Shanghai Jingan Commercial & Trade Corporation; chief accounting in Shanghai Tailong Real
Estate Co. Ltd.; finance officer in Shanghai Baodi Property Co. Ltd; chief accountant in Shanghai Ruian Real
Estate Co. Ltd and full-time supervisor in the enterprise directly under SASAC of Shanghai Pudong New District;
Director of Shenzhen Cereals Group Co. Ltd and Shenzhen Bus Group Co. Ltd. Now she serves as Director of
the Company Director of Shenzhen Food Materials Group Co. Ltd and Shenzhen Special Zone Construction
Development Group Co. Ltd.Mr. Zhao Rubin: born in 1956 a master’s degree and professor of engineering. He successively served as the
director and secretary of Gezhouba Station for EHVDC transmission from Gezhouba to Shanghai; director of
office and director of foreign affairs office of Gezhouba Hydro-power Plant; the secretary of party group and GM
of Huaneng South Development Company; party secretary and GM of Huaneng Real Estate Development
47深圳市深粮控股股份有限公司2021年年度报告全文
Company; Director deputy president deputy party secretary of Great Wall Securities; president of Jingshun Great
Wall Fund Management Co. Ltd.; deputy president of Sunshine Insurance Assets Management Corporation
Limited; the outside director of Shenzhen Cereals Group Co. Ltd; independent director of Bros Eastern Co. Ltd.Now he serves as independent director of the Company; independent director of Southwest Securities Co. Ltd and
Director of Bosera Fund Management Co. Ltd.Ms. Bi Weimin: born in 1956 a doctoral candidate and a senior accountant. She successively served as engineer
of the Gezhouba Power Plant assistant director and deputy director; deputy president and director of Three
Gorges Finance Company; chief economist and supervisor of China Yangtze Power Co. Ltd.; deputy chief
accountant of China Three Gorges Corporation the member of investment committee and director of asset finance
dept. As well as the director of enterprise management dept and legal affairs department. Now she serves as
independent director of the Company.Mr. Liu Haifeng: born in 1971 a doctoral student and a lawyer. He successively served as director of legal
department of Shenzhen Property Development (Group); the partner of Guangdong Xintong Laws Firm. Now he
serves as independent director of the Company and first-level partner of Guangdong Hancheng Laws Firm.(ii) Supervisor
Ms. Wang Huimin: born in 1967 a master’s degree and a intermediate economist senior HR manager and has a
lawyer’s qualification. She successively served as a legal adviser for Shenzhen Construction Group Co. Ltd an
economist chairman of the committee of female employees manager of HR department in Shenzhen
Construction Investment Holding Co. Ltd; director of HR department of Shenzhen Investment Holdings Co. Ltd;
Deputy GM of SZPRD; Director Deputy party secretary Secretary of Discipline Committee and Chairman of
supervisory committee of Shenzhen Cereals Group Co. Ltd. Now she serves as Secretary of Discipline
Committee and Chairman of supervisory committee of the Company.Mr. Liu Ji: born in 1975 master’s degree and a economist. He successively served as secretary of executive Board
committee GM of IT Engineering departmnet GM of administrative department GM of enterprise management
department and GM of investment department of Shenzhen International Holdings Limited; non executive
director of Shenzhen Expressway Co. ltd.; the supervisor of Shenzhen Cereals Group Co. Ltd. Now he is the
supervisor of the Company; the executive director deputy GM and secretary of the Board of Shenzhen Holdings
Bay Area Development Co. Ltd.; the mediation expert of Shenzhen International Arbitration Court (Shenzhen
Arbitration Commission).Ms. Qian Wenying: born in 1972 holds a bachelor degree a member of Association of Chartered Certified
Accountants (ACCA) and a senior economist. She successively served as the office translator secretary and
researcher of project investment office in Shenzhen Tagen Group Co. Ltd.; the assistant manager and manager of
48深圳市深粮控股股份有限公司2021年年度报告全文
marketing department of Tagen Investment Development Co. Ltd. the director of office of the board and
representative of security affairs of Shenzhen Tagen Group Co. Ltd; supervisor of Shenzhen Cereals Group Co.Ltd. Now she serves as supervisor of the Company and director of policy research office of Shenzhen Metro.Mr. Zheng Shengqiao born in 1967 holds a bachelor degree and an intermediate accountant. He successively
served as member of the special representative office of the state audit administration in Guangzhou; deputy
manager of accounting department of Hong Kong Yuehai Enterprise (Group) Co. Ltd; deputy GM of CTS
Logistics; CFO of the AVSHD Technology Co. Ltd; the deputy director of finance department deputy director of
enterprise management department director of board office deputy secretary of discipline inspection commission
secretary of the BOS and director of discipline inspection and supervision office (office of BOS) of the Shenzhen
Cereals Group Co. Ltd. Now he serves as the staff supervisor deputy secretary of discipline inspection
commission and director of discipline inspection and supervision office (office of BOS) of the Company.Mr. Ma Zenghai: born in 1964 master’s degree and an intermediate economist lecturer. He successively served as
the general representative of Thailand project in Shenzhen Cereals Group Co. Ltd; president and GM of
Shenzhen Hualian Grain & Oil Trade Co. ltd.; GM and secretary of the Party branch of Grease branch of
Shenzhen Cereals Group Co. Ltd; head of the risk management department of Shenzhen Cereals Group Co. Ltd.Now he serves as staff supervisor and head of the risk management and internal audit department of the company.(iii) Senior executive
Mr. Chen Xiaohua born in 1966 holds a master's degree is an economic manager. He served successively as
chief of the secretarial section deputy director and director of the office of the board of directors and secretary of
the board director and vice president of Shenzhen Agricultural Products Group Co. Ltd. concurrently served as
chairman of Guangxi Haijixing International Logistics Co. Ltd. chairman of Tianjin Haijixing Agricultural
Products Market Management Co. Ltd. and chairman of Tianjin Haijixing Agricultural Products Logistics Co.Ltd. He currently serves as deputy general manager and secretary of the board of the company.Mr. Xiao Hui born in 1978 holds a master's degree is a master of finance and a master of business administration.He served as a staff member of the Personnel and Education Department and a staff member a deputy chief staff
member a chief staff member deputy director and director of the General Office of the People's Bank of China;
and the deputy head of the Nanshan District People's Government. He currently serves as deputy general manager
of the company.Mr. Dai Bin: born in 1964 master’s degree and a senior engineer. He successively served as counselor of Radio
Engineering Department of Huazhong University of Technology and secretary of the Youth League Committee; an
engineer and purchasing manager of Shenzhen Huada Electronic Co. Ltd; GM of Shenzhen Shengye Venture
Electronics Co. Ltd; GM of Shenzhen Zhongnong E-commerce Co. Ltd; director of information director and
49深圳市深粮控股股份有限公司2021年年度报告全文
deputy GM of e-commerce center and executive director of Shenzhen Shenliang Doximi Business Co. Ltd. Now
he serves as the deputy GM of the Company.Mr. Meng Xiaoxian: born in 1972 master’s degree. He successively served as cadres of Shenzhen Youth League
School; member of the learning department of Shenzhen Municipal Committee of Communist Youth League
deputy director section of liaison department director section of liaison department director section of office
deputy director of organization and publicity department director of office director of community and rights
department; deputy director of Pingshan New Area Public Utilities Bureau and director of Planning and Land
Supervision Bureau of Shenzhen; deputy secretary of Pingshan Working Committee and director of Pingshan
Office Pingshan New District Shenzhen; secretary of Malian Working Committee and director of Malian Office
Pingshan New District Shenzhen; secretary of the working committee of Malian Sub-district Pingshan District
Shenzhen director and secretary of the working committee of Malian sub-district office of Communist Party of
CHina. Now he serves as deputy GM of the Company.Post-holding in shareholder’s unit
√ Applicable □ Not applicable
Weather receiving
remuneration
Start dated of office End date of office
Name Name of shareholder’s units Position from
term term
shareholder’s
units
Shenzhen Agricultural Products
Wang Li Director 2018-09-17 2022-01-12 Y
Group Co. Ltd
Shenzhen Food Materials Group
Ni Yue Director 2021-11-04 Y
Co. Ltd
Explanation
on
post-holdin
N/A
g in
shareholder’
s unit
Post-holding in other unit
√ Applicable □ Not applicable
Weather
receiving
Start dated of office End date of office
Name Name of other units Position remunerati
term term
on from
other units
Ni Yue Shenzhen Bus Group Co. Ltd. Director 2017-08-01 2021-11-04 Y
50深圳市深粮控股股份有限公司2021年年度报告全文
Shenzhen Special Zone Construction
Ni Yue Director 2021-11-04 N
Development Group Co. Ltd.Zhao
Bosera Fund Management Co. Ltd. Director 2017-12-01 N
Rubing
Zhao Independent
Southwest Securities Co. Ltd 2017-03-01 Y
Rubing director
Zhao Independent
Bros Eastern Co. Ltd. 2015-05-01 2021-05-28 Y
Rubing director
Liu
Guangdong Hancheng Laws Firm First-level partner 2007-02-01 Y
Haifeng
Executive
Shenzhen Holdings Bay Area director Deputy
Liu Ji 2018-04-01 Y
Development Co. Ltd GM and Secretary
of the Board
Qian Director of Policy
Shenzhen Metro 2018-02-01 Y
Wenying Research Office
Punishment of securities regulatory authority in recent three years to the Company’s current and outgoing directors supervisors and
senior management during the reporting period
□ Applicable √ Not applicable
3. Remuneration for directors supervisors and senior executives
Decision-making procedures determination bases and actual payment of remunerations of directors supervisors and senior
management
During the reporting period according to the Company Performance Management Measures the Company's board meeting
remuneration and appraisal committee combined with the Company's annual business situation and individual performance appraisal
result and determined the senior management personnel salary. During the reporting period the subsidiary standard of independent
directors is subject to the resolution by the 2019 Fifth Extraordinary General Meeting and adjusted as 138000 yuan (tax included)
per year for one person.Remuneration for directors supervisors and senior executives in reporting period
Unit: 10 thousand Yuan
Whether
Total
remuneration
Post-holding remuneration
Name Title Sex Age obtained from
status obtained from
related party of
the Company
the Company
Zhu Currently in
Party Secretary Chairman Male 57 120.12 N
Junming office
Hu Deputy Party Secretary Currently in
Male 57 137.35 N
Xianghai Director GM office
51深圳市深粮控股股份有限公司2021年年度报告全文
Deputy Party Secretary Currently in
Lu Qiguang Male 59 123.55 N
Director office
Currently in
Lu Yuhe Director CFO Female 44 27.08 Y
office
Zhao Currently in
Independent director Male 65 13.8 N
Rubing office
Currently in
Bi Weimin Independent director Female 65 13.8 N
office
Liu Currently in
Independent director Male 50 13.8 N
Haifeng office
Currently in
Wang Li Director Male 60 15.3 Y
office
Currently in
Ni Yue Director Female 47 15.3 Y
office
Secretary of Discipline
Wang Currently in
Committee Chairman of Female 54 50.3 Y
Huimin office
supervisory committee
Currently in
Liu Ji Supervisor Male 46 0 N
office
Qian Currently in
Supervisor Female 49 0 N
Wenying office
Zheng Currently in
Staff supervisor Male 54 119.92 N
Shengqiao office
Ma Currently in
Staff supervisor Male 57 107.57 N
Zenghai office
Chen Deputy GM Secretary of the Currently in
Male 55 88.5 N
Xiaohua Board office
Currently in
Xiao Hui Deputy GM Male 43 116.65 N
office
Currently in
Dai Bin Deputy GM Male 57 125.11 N
office
Meng Currently in
Deputy GM Male 49 120.93 N
Xiaoxian office
Jin
Former Director CFO Female 50 Office-leaving 23.22 Y
Zhenyuan
Total -- -- -- -- 1232.3 --
52深圳市深粮控股股份有限公司2021年年度报告全文
VI. Responsibility performance of directors during the reporting period
1. The board of directors during the reporting period
Session of meeting Date of meeting Disclosure date Meeting resolutionsThe “Resolution of The 13th Session of 10thBOD” (Notice No.: 2021-01) released on
The 13th Session of 10th BOD 2021-02-03 2021-02-04
Juchao Website (www.cninfo.com.cn)dated
February 4 2021The “Resolution of The 14th Session of 10thBOD” (Notice No.: 2021-07) released on
The 14th Session of 10th BOD 2021-04-23 2021-04-27
Juchao Website (www.cninfo.com.cn)dated
April 27 2021The “Resolution of The 15th Session of 10thBOD” (Notice No.: 2021-15) released on
The 15th Session of 10th BOD 2021-06-01 2021-06-02
Juchao Website (www.cninfo.com.cn)dated
June 2 2021The “Resolution of The 16th Session of 10thBOD” (Notice No.: 2021-19) released on
The 16th Session of 10th BOD 2021-07-16 2021-07-17
Juchao Website (www.cninfo.com.cn)dated
July 17 2021The “Resolution of The 17th Session of 10thBOD” (Notice No.: 2021-25) released on
The 17th Session of 10th BOD 2021-08-24 2021-08-26
Juchao Website (www.cninfo.com.cn)dated
August 26 2021The “Resolution of The 18th Session of 10thThe 18th Session of 10th BOD 2021-10-26 2021-10-26BOD”The “Resolution of The 19th Session of 10thBOD” (Notice No.: 2021-28) released on
The 19th Session of 10th BOD 2021-11-25 2021-11-26
Juchao Website (www.cninfo.com.cn)dated
November 26 2021
2. The attending of directors to Board meetings and shareholders general meeting
The attending of directors to Board Meeting and Shareholders General Meeting
Times of Times of
Absent the
Board attending the Times of
Times of Meeting for
meeting Times of Board Times of attend the
Director entrusted the second
supposed to Presence Meeting by Absence general
presence time in a
attend in the communicati meeting
row (Y/N)
report period on
53深圳市深粮控股股份有限公司2021年年度报告全文
Zhu Junming 7 4 2 1 0 N 2
Hu Xianghai 7 5 0 2 0 N 2
Lu Qiguang 7 7 0 0 0 N 3
Jin Zhenyuan 3 3 0 0 0 N 1
Lu Yuhe 3 3 0 0 0 N 1
Zhao Rubing 7 5 2 0 0 N 2
Bi Weimin 7 2 5 0 0 N 3
Liu Haifeng 7 6 1 0 0 N 3
Wang Li 7 7 0 0 0 N 3
Ni Yue 7 7 0 0 0 N 3
Explanation of absent the Board Meeting for the second time in a row
Nil
3. Objection for relevant events from directors
Directors come up with objection about Company’s relevant matters
□ Yes √ No
No directors come up with objection about Company’s relevant matters in the Period
4. Other explanation about responsibility performance of directors
The opinions from directors have been adopted
√ Yes □ No
Director's statement to the Company that a proposal has been or has not been adopted
During the reporting period independent directors of the Company was in strict accordance with relevant laws
from the "Articles of Association" the "Company Law" "Guidance to Establishment of Independent Director
System in Listed Companies " and actively attended board meetings shareholders' meetings. We issued
independent professional opinion for important issues. And we sustained attention to the operating inspected and
guided the management work from time to time learned about internal control system implementation progress
of the equity investment project etc. and continue to enhance consciousness of performing duties according to
law express independent and impartial advice for investment outside related party transactions hiring auditors
and other matters occurred during the reporting period in time. Duties performance of independent directors has
improved the corporate governance structure and safeguarded the interests of the Company and its shareholders.From performance of duties of Independent Directors please note from “2021 Annual Work Report of IndependentDirectors” detailed in www.cninfo.com.cn on disclosure.
54深圳市深粮控股股份有限公司2021年年度报告全文
VII. Performance of Duties by Specialized Committees under the Board Meeting in the
Reporting Period
Specific
Importan circums
Number t Other tances
Committee Member of comment performa of the
Meeting content
name s meetings Date of meeting s and nce of objectio
held suggestio duties n (if
ns made applicab
le)
Deliberated the follow
proposals and reports as
Internal Control Evaluation
Report of 2020 Work
Report of the Internal
Control System of 2020;
2021-04-23 Summary Report on the - - N/A
Audit Works of BDO China
Shu Lun Pan Certified
Public Accountant LLP for
2020; Financial Report of
Bi
2020 and Financial Report
Weimin
Audit of Q1 for 2021
Zhao
Committee
Rubing 4 Deliberated the Financial
of the
Jin 2021-08-24 Report of Semi-Annual of - - N/A
Board
Zhenyua 2021
n Deliberated the Financial
2021-10-26 - - N/A
Report of Q3 for 2021
Deliberated the follow
proposals and reports as
Corporate Compliance
Management Approach
2021-11-25 Evaluation Management - - N/A
Method after the Investment
and Authorization
Management Method of the
BOD
Remunerati Senior executive’s
Zhao
on and debriefing questioning and
Rubing
Appraisal 2 2021-04-21 review for year of 2020; and - - N/A
Bi
Committee deliberated the Proposal on
Weimin
of the Remuneration of Directors
55深圳市深粮控股股份有限公司2021年年度报告全文
Board Ni Yue and Senior Executives for
year of 2020
Deliberated the Proposal on
Business Performance
2021-07-16 Responsibility Letter of the - - N/A
Senior Executives for year
of 2021
Zhao
Rubing
Nominatio
Zhu
n
Junming Deliberated the Proposal of
Committee 1 2021-07-16 - - N/A
Bi Director Supplement
of the
Weimin
Board
Liu
Haifeng
Deliberated the Draft
Zhu 2021-02-03 Comprehensive Budget for - - N/A
Junming 2021
Strategy Hu
Deliberated the Proposal on
Committee Xianghai
3 Acquisition of 49% Equity
of the Zhao 2021-06-01 - - N/A
of Dongguan Shenliang
Board Rubing
Logistics Co. Ltd.Liu
th
Haifeng Deliberated the 14
2021-11-25 - - N/A
Five-Year Plan
VIII. Works from Supervisory Committee
The Company has risks in reporting period that found in supervisory activity from supervisory committee
□ Yes √ No
Supervisory committee has no objection about supervision events in reporting period
IX. Particulars of workforce
1. Number of Employees Professional composition Education background
Employee in-post of the parent Company at period-end
129
(people)
Employee in-post of main Subsidiaries at period-end (people) 1149
The total number of current employees at period-end (people) 1278
The total number of current employees to receive pay (people) 1278
Retired employee’ s expenses borne by the parent Company 1
56深圳市深粮控股股份有限公司2021年年度报告全文
and main Subsidiaries (people)
Professional composition
Category of professional composition Numbers of professional composition (people)
Production personnel 485
Salesperson 156
Technicians 113
Financial personnel 116
Administrative personnel 408
Total 1278
Education background
Education Numbers (people)
Postgraduate 148
Undergraduate 487
3-years regular college graduate 267
Polytechnic school graduate 86
High school and below 290
Total 1278
2. Remuneration Policy
During the reporting period employee wages was paid monthly according to salary management provisions set by the Company and
the performance-related pay was issued based on the actual situation of benefit and individual performance assessment results at the
year-end remuneration and benefit are connected as a whole.
3. Training Plan
SZCH fully draws on the excellent experience of the industry according to the strategic development and talent echelon constructionneeds the Company will continue to improve the talent selection training and development system based on the core of “YouhePlan” for management trainees the “Daoxiang Plan” for reserve talents and “Jinsui Plan” for the key position talents. Combines with
the company’s management innovation organizational innovation and marketing innovation development needs to continuously
promote the development and growth of management and professional talents and build a high-quality professional talent team with
SZCH characteristics.In 2022 SZCH will continue to follow the strategic goal of "smart grain oil and food supply chain quality service provider"
combine the strategic path of "one chain two parks and N platforms" and the actual business conditions and strive to enhance the
supporting role of human resource management for the company's strategy. Empower innovative talents make full use of internal and
external online and offline resources create a standardized curriculum system and empowerment plan for the employees continue to
promote the systematization and professionalization of the company's training management and further strengthen the
implementation of the company's innovation-driven development and strategy of talents strengthening the company.
57深圳市深粮控股股份有限公司2021年年度报告全文
4. Labor outsourcing
□ Applicable √ Not applicable
X. Profit distribution plan and capitalizing of common reserves plan
Formulation Implementation and Adjustment of Profit Distribution Policy Especially Cash Dividend policy during the Reporting
Period
√ Applicable □ Not applicable
The profit distribution policy of the Company is specified in the Article of Association as:
(1) Profit distribution of the Company should pay attention to the reasonable investment return to the investors
and the profit distribution policy should maintain continuity and stability;
(2) The Company may distribute dividends in the form of cash or a combination of cash and stocks and may pay
interim cash dividends;
(3i) The following conditions shall be met at the same time when the Company intends to implement cash
dividends:
1. Earnings per share for the year is not less than 0.1 yuan;
2. The audit institution shall issue a standard unqualified audit report on the company's annual financial report;
3. The company has no major investment plans or major cash expenditures (except for fund-raising projects).
Major investment plans or major cash expenditures refer to the cumulative expenditures that the company intends
to invest acquire assets or purchase equipment in the next twelve months reach or exceed 30% of the company's
most recent audited total assets and exceed 50 million yuan;
(4) In principle the company's annual profits distributed in cash should not be less than 10% of the attributable
profits realized in the year; and the company’s cumulative profits distributed in cash in the last 3 years should not
be less than 30% of the annual average attributable profits realized in the last 3 years. Under the premise of
ensuring the distribution of cash profits the company can additionally adopt the method of stock dividend
distribution for profit distribution; the company's annual profit distribution amount shall not exceed the company's
accumulated undistributed profits at the end of the year and shall not damage the company's ability to continue
operations;
(5) The specific profit distribution plan shall be drawn up by the board of directors and submitted to the general
meeting of shareholders for deliberation. The company provides a variety of ways to accept the recommendations
and supervision of all shareholders independent directors and supervisors on the company's dividends. If the
annual report period is profitable but the board of directors does not propose a cash dividend plan in accordance
with the "Articles of Association" it shall be disclosed in the periodic report the reasons for not proposing a cash
dividend plan in accordance with the "Articles of Association" and the purpose of funds not used for dividends
but retained by the company the independent directors shall express independent opinions on this purpose in
58深圳市深粮控股股份有限公司2021年年度报告全文
addition to on-site meetings the company shall also provide shareholders with an online voting platform when
convening a general meeting of shareholders;
(6) If the company has not distributed cash profits in the last 3 years it can not issue new shares to the public
issue convertible corporate bonds or allot shares to original shareholders;
(7) Where a shareholder illegally occupies the company’s funds the company shall deduct the cash dividends
distributed to the shareholder in order to repay the capital occupied;
(8) When the company adjusts its profit distribution policy it should take the protection of shareholders
especially small and medium shareholders' rights and interests as the starting point for detailed argumentation
and the board of directors should submit it to the general meeting of shareholders for review and approval by a
special resolution while independent directors should express clear independent opinions;
(9) The company provides multiple channels (telephone fax e-mail interactive platform etc.) to accept all
shareholders' suggestions and supervision on the company's dividends.The foreign exchange conversion rate of domestically-listed foreign share dividends is calculated based on the
central parity rate of Hong Kong dollar against RMB announced by the People's Bank of China on the first
working day after the resolution date of the general meeting of shareholders.During the reporting period the company’s profit distribution complied with the company’s articles of association
and review procedures and fully protected the legitimate rights and interests of small and medium investors
independent directors expressed their opinions the profit distribution procedures were compliant and transparent.During the reporting period the company's profit distribution policy has not been adjusted or changed.Special explanation on cash dividend policy
Satisfy regulations of General Meeting or requirement of
Y
Article of Association (Y/N):
Well-defined and clearly dividend standards and proportion
Y
(Y/N):
Completed relevant decision-making process and mechanism
Y
(Y/N):
Independent directors perform duties completely and play a
Y
proper role (Y/N):
Minority shareholders have opportunity to express opinions
and demands totally and their legal rights are fully protected Y
(Y/N):
Condition and procedures are compliance and transparent
Not applicable
while the cash bonus policy adjusted or changed (Y/N):
59深圳市深粮控股股份有限公司2021年年度报告全文
The Company gains profits in reporting period and the has positive profit available for distribution to shareholders of the parent
company but no cash dividend distribution plan has been proposed
□ Applicable √ Not applicable
Profit distribution plan and capitalizing of common reserves plan for the Period
√ Applicable □ Not applicable
Bonus shares for every 10-share (Share) 0
Dividends for every 10-share (RMB) (Tax
2.50
included)
Equity base of distribution plan (Share) 1152535254
Cash bonus distribution (RMB) (Tax included) 288133813.50
Cash bonus distribution in other ways (i.e. share
0.00
buy-backs) (RMB)
Total cash bonus (including other ways) (RMB) 288133813.50
Profit available for distribution(RMB) 295149580.63
Ratio of total cash dividend (other ways
100%
included) in total profit distribution
Cash dividend
The Company is in a development stage and has the arrangement of major capital expenses ratio of cash dividend in profit
distribution should reach a minimum of 20% while the profit distributed.Detailed explanation on profit distribution or capital accumulation fund conversion plan
After audited by BDO China Shu Lun Pan Certified Public Accountant LLP in consolidate statement for year of 2021 the net
profit attributable to shareholders of parent company amounted as 428720226.09 yuan net profit of parent company was
232079150.47 yuan; Ended as 31st December 2021 the profit of parent company that can be distributed for shareholders was
295149580.63 yuan balance of consolidate capital public reserves was 1259639656.65 yuan.
In line with relevant regulations and Article of Association combined with the actual development needs of the Company and
consider the interest of shareholders BOD plans to submit the equity distribution plan for year of 2021 to shareholders general
meeting: based on total share capital 1152535254 shares of the Company on 31st December 2021 distributed 2.5 Yuan (tax
included) for every 10-share to all shareholders with zero share bonus (tax included) and no share converted from capital reserve
XI. Implementation of the Company’s stock incentive plan employee stock ownership plan or
other employee incentives
□ Applicable √Not applicable
During the reporting period the Company has no stock incentive plan employee stock ownership plan or other employee incentives
that have not been implemented.
60深圳市深粮控股股份有限公司2021年年度报告全文
XII. Construction and implementation of internal control system during the reporting period
1. Construction and implementation of internal control
In accordance with the Company Law the Guidelines for Governance of Listed Companies the relevant
regulations of the China Securities Regulatory Commission and other relevant national laws and regulations the
company has established a general meeting of shareholders a board of directors a board of supervisors a party
committee and managers. The board of directors consists of a strategy committee a remuneration and appraisal
committee a nominations committee and an audit committee clarified the responsibilities and authorities of
decision-making execution and supervision and formed a scientific and effective division of responsibilities and
checks and balances mechanism providing a good internal environment for the establishment and operation of the
company’s internal control system.In terms of the construction and implementation of the internal control system the board of directors is
responsible for the establishment improvement and effective implementation of the internal control system the
board of supervisors supervises the establishment and implementation of the internal control system of the board
of directors and the managers are responsible for organizing the daily operation of the company’s internal control
system and the company’s risk management and internal audit department is specifically responsible for
organizing and coordinating the establishment implementation evaluation and daily work of the internal control
system.The company has established management systems and procedures in line with internal control management
norms in terms of organizational structure development strategy internal audit and supervision human resources
social responsibility corporate culture capital management procurement business sales business asset
management engineering project management research and development guarantee business investment
management contract management budget management financial reports and information communication
which have been effectively implemented in the daily business operation and management process.
2. Details of major defects in internal control identified during the reporting period
□Yes √No
XIII. Management and controls on the subsidiary during reporting period
Problems
Measures Progress Follow-up
Integration encountere
Name Integration plans taken to in solution
progress d in
resolve solution plan
integration
Wuhan The Company sent senior Various
Jiacheng executive to manage the integration
N/A N/A N/A N/A
Biotechnology management structure of Wuhan initiatives are
Co. Ltd Jiacheng Biotechnology Co. Ltd; in order
61深圳市深粮控股股份有限公司2021年年度报告全文
at the same time a number of promotion
management systems were
developed and introduced and
products structure was adjusted
XIV. Internal control self-appraisal report or internal control audit report
1. Self-appraisal Report of Internal Control
Disclosure date of full internal control
2022-04-26
evaluation reportDisclosure index of full internal control “Internal control self-appraisal report of SHENZHEN CEREALS HOLDINGS CO.evaluation report LTD. in 2021” published on Juchao Website (http: //www.cninfo.com.cn)
The ratio of the total assets of units
included in the scope of evaluation
accounting for the total assets on the 100.00%
Company's consolidated financial
statements
The ratio of the operating income of
units included in the scope of evaluation
accounting for the operating income on 100.00%
the Company's consolidated financial
statements
Defects Evaluation Standards
Category Financial Reports Non-financial Reports
1. Major defects: Defect alone or together 1.Qualitative criteria for major defects
with other defects in a timely manner are as follows:
cause unpreventable or undetectable and (1) The lack of democratic
uncorrectable material misstatement in the decision-making process such as the
financial statements. lack of decision-making on major
The Company may indicate the presence issues an important appointment and
of significant deficiencies in internal dismissal of cadres major investment
control over financial reporting if decisions large sums of money using
Qualitative criteria following circumstances: the decision-making process;
(1) The directors supervisors and senior (2) Decision-making process is not
management fraud; scientific such as major policy
(2) Enterprise corrected mistake which has mistakes resulting in significant
been published in financial statements; property damage to the Company;
(3) CPA found material misstatement in
(3) Serious violations of national laws
current financial statements but internal
and regulations;
control during operation failed to find the
(4) Loss of key executives or loss of a
misstatements;
large number of key talent;
62深圳市深粮控股股份有限公司2021年年度报告全文
(4) Oversight of internal control by (5) Negative media news is frequent
Corporate Audit Committee and the And cause nationwide impact.internal audit is invalid; 2. The qualitative criteria for important
(5) Particularly important or significant defects are as follows: (1) The
deficiencies found during internal control decision-making process is not perfect;
has not been rectified; (2)The company’s internal
(6) The lack of business-critical system or management system has not been
invalid system. effectively implemented resulting in
2. Important defect: defect alone or losses; (3) The media’s negative news
together with other defects in a timely is frequent and has certain influence;
manner cause unpreventable or (4) The general defects in the internal
undetectable and uncorrectable material control evaluation have not been
misstatement in the financial statements corrected. 3. General defects refer to
although not reach and exceed the level of other internal control defects that do
importance should lead to management not constitute major defects or
attention misstatements. important defects.
3. General Defects: other internal defects
do not pose a significant or important
defect control deficiency.Major defects:
Potential misstatement of total assets ≥ 1%
of total assets; Potential misstatement of
Major defects: the amount of direct
Operating revenue ≥ 1% of operating
property loss ≥ 12 million yuan have
income; Potential misstatement of total
been officially disclosed outside the
profit≥ 5% of total profit.Company disclosed in periodic reports
Important defects:
and adversely affected.
0.5% of total assets ≤ Potential
Important defects: 3 million yuan < the
misstatement of total assets <1% of total
amount of direct property loss < 12
assets
million yuan punished by the state
0.5% of operating income≤ Potential
government but the Company
misstatement of Operating revenue <1% of
Quantitative standard
disclosed in periodic reports on the
operating income
negative impact;
2.5% of total profit≤ Potential
General defects: the amount of direct
misstatement of total profit <5% of total
property loss ≤ 3 million yuan
profit;
punished by the provincial (including
General Defects:
provincial) government but the
Potential misstatement of total assets
Company disclosed in periodic reports
<0.5% of total capital;
on the negative impact;
Potential misstatement of Operating
revenue <0.5% of operating income;
Potential misstatement of total profit
<2.5% of total profit;
Amount of significant defects in
0
financial reports
63深圳市深粮控股股份有限公司2021年年度报告全文
Amount of significant defects in
0
non-financial reports
Amount of important defects in financial
0
reports
Amount of important defects in
0
non-financial reports
2. Audit report of internal control
√ Applicable □ Not applicable
Deliberations in Internal Control Audit Report
BDO China Shu Lun Pan Certified Public Accountant LLP believes the Company was in accordance with the "basic norms of
internal control" and the relevant provisions and maintained effective internal control of financial reporting in all material
respects on 31 December 2021.Disclosure details of audit report of
Disclosed
internal control
Disclosure date of audit report of
2022-04-26
internal control (full-text)Index of audit report of internal control “Internal control audit report of SHENZHEN CEREALS HOLDINGS CO. LTD. in(full-text) 2021” published on Juchao Website (www.cninfo.com.cn)
Opinion type of auditing report of IC Standard unqualified
Whether the non-financial report had
No
major defects
Whether modified audit opinions carried out for the audit report of internal control from CPA or not
□ Yes √ No
Whether audit report of internal control issued by CPA is in agreement with self-evaluation report issued by the Board
√ Yes □ No
XV. Rectification of Self-examination Problems in Special Governance Actions in Listed
Company
During the reporting period the company conducted self-examination and self-correction on corporate
governance in accordance with the requirements of the Announcement on Launching Special Actions on
Corporate Governance of Listed Companies of the China Securities Regulatory Commission. Through this
self-examination the company has established and improved a relatively complete and reasonable corporate
governance structure and internal control system in accordance with relevant laws and regulations such as the
Company Law Guidelines for Governance of Listed Companies Guidelines for the Standardized Operation of
Listed Companies in the Shenzhen Stock Exchange etc.. The company didn’t find any major deficiencies and
risks in standardized operations.In the future the company will focus on improving the high-quality development level of listed companies
64深圳市深粮控股股份有限公司2021年年度报告全文
continue to improve the corporate governance system effectively improve the effectiveness of corporate
governance and scientificity of decision-making and achieve stable operation and sustainable development of the
company.
65深圳市深粮控股股份有限公司2021年年度报告全文
Section V. Environmental and Social Responsibility
I. Major environmental
The listed Company and its subsidiary whether belongs to the key sewage units released from environmental protection department
□Yes √ No
Administrative punishment for environmental problems during the reporting period
Impact
on the
The
production
Company name Punishment company’s
Reason for punishment Violation and
or subsidiary name result rectification
operation
measures
of listed
company
The noise of
On December 21 2021 it Noise
measuring point 2#
violated Article 23 of the Law The production reduction has
which was meter
of the People’s Republic of was restricted been carried
outside the northeast
China on the Prevention and for 3 months out by
of the red line of the
Control of Environmental and the adopting
Dongguan enterprise buildingNoise Pollution” regarding the correction measures such
International Food exceeded 3dB (A)provisions of “discharging method of as soundproofIndustrial Park and the noise of N/A
industrial noise to the production walls adding
Development Co. measuring point 2#
surrounding living environment restriction shall mufflers to the
Ltd. which was one
within the city limits and be subject to the equipment
meter outside the
failing to meet the national goal of reaching and changing
northeast of the red
environmental noise emission the emission the glass to
line of the enterprise
standards for industrial standard soundproof
building exceededenterprises” glass.
9dB (A)
On May 8 2021 it violated
The unorganized
Article 18 of the Law of the
exhaust gas particles
People’s Republic of China on Dust
exceeded the
the Prevention and Control of The hearing suppression
Dongguan standard by 7.1
Atmospheric Pollution has been passed funnels have
International Food times. During
regarding the provisions that and no been used in
Industrial Park monitoring when N/A“ enterprises institutions and administrative the operationDevelopment Co. unloading grain
other producers and operators penalty decision to effectively
Ltd. equipment such as
shall conduct environmental has been made. reduce dust
grab buckets
impact assessment and pollution.produced dust and
publicize environmental impact
other pollutants.assessment documents in
66深圳市深粮控股股份有限公司2021年年度报告全文
accordance with law when their
constructing projects have an
impact on the atmospheric
environment; those who
discharge pollutants into the
atmosphere shall comply with
the standards for the discharge
of air pollutants and comply
with the requirements for
controlling the discharge of keyair pollutants ”.The noise of Noise
On June 2 2021 it violated
measuring point 2# reduction has
Article 23 of the Law of the
which was one been carried
People’s Republic of China on
meter away from the out by
the Prevention and Control of
northeast of the The hearing has adopting
Dongguan Environmental Noise Pollution
factory boundary been passed measures such
International Food regarding the provisions of
exceeded 4dB (A) and no as soundproofIndustrial Park “discharging industrial noise to N/Aand the noise of administrative walls adding
Development Co. the surrounding living
measuring point 4# penalty decision mufflers to the
Ltd. environment within the city
which was one has been made. equipment
limits and failing to meet the
meter away from the and changing
national environmental noise
northeast of the the glass to
emission standards for
factory boundary soundproofindustrial enterprises”.exceeded 13dB (A) glass.Other environmental information disclosed refer to key polluters
Nil
Measures taken to reducing the carbon emissions during the reporting period and their effectiveness
□ Applicable √Not applicable
Reasons for not disclosing other environmental information
The company attached great importance to environmental protection work and each subsidiary has built
corresponding environmental protection facilities according to the actual situation of production and operation to
treat waste gas dust wastewater and solid waste generated in the production process so as to make its emissions
reach the national and local relevant standards. At the same time based on its own business characteristics the
company’s subsidiaries have formulated a series of rules and regulations on environmental protection and strictly
implemented them to institutionalize and standardize the environmental protection.II. Social responsibility
During the reporting period the Company has been strictly in accordance with "Company Law" "Securities Law"
"Articles of Association" and other relevant laws and regulations continues to improve governance structure and
67深圳市深粮控股股份有限公司2021年年度报告全文
regulized operation. the Company attaches importance to social responsibility sustains attention to social create
value integrity management according to law to provide consumers with safe and secure products high-quality
green and healthy products to enhance the capacity for sustainable development and overall competitiveness;
making efforts to improve management enhance innovation capability and core competencies; the Company
uphold a fair just and open principles of treatment for all investors with particular emphasis on safeguarding the
interests of minority shareholders; the Company strictly comply with national environmental laws and regulations
thoroughly implement green philosophy strengthen ecological protection comply with the overall development of
the country and society and strive to achieve economic and social benefits short-term interests and long-term
interests of their own development and social development coordination thus achieve healthy and harmonious
development between the Company and the community the Company and the environment.III. Consolidating and expanding the achievements of poverty alleviation and rural
revitalization
2021 was the first year of rural revitalization and it was also a key year for promoting the smooth transition of
poverty alleviation policies and work systems to rural revitalization. In accordance with the document spirit of the
Opinions on the Implementation of Targeted Poverty Alleviation in the New Era" (YF [2016] No. 13) by the
Guangdong Provincial Party Committee and the Provincial Government the task force dispatched by SZCH to
Guilin Village Yidu Town Longchuan County Heyuan City (hereinafter referred to as the task force stationed in
the village) completed the targeted poverty alleviation work task for Guilin Village by the end of 2020 through a
series of effective measures and achieved the expected results. Guilin Village was no longer listed as a provincial
poverty-stricken village and SZCH contributed to winning the battle against poverty as scheduled. In 2021 the
task force stationed in the village maintained its strength and worked hard and completed the finishing work in a
pragmatic and efficient manner so that the foundation of poverty alleviation would be more stable and the resultswould be more sustainable. In July the task force stationed in the village was awarded the title of “AdvancedCollective for Poverty Alleviation” by the Leading Group of Heyuan Municipal Party Committee for
Implementing the Rural Revitalization Strategy.In order to solidly promote the effective connection between poverty alleviation and rural revitalization according
to the relevant work arrangements of the Provincial Party Committee and the Municipal Party Committee SZCH
Government Offices Administration of Shenzhen Meteorological Bureau of Shenzhen Municipality China Life
Property and Casualty Insurance and other units selected personnel to form a task force stationed in towns to help
towns and villages (hereinafter referred to as the task force stationed in towns) to go to Tuocheng Town
Longchuan County Heyuan City to carry out rural revitalization and assistance work giving full play to the
advantages of the industry and providing support for the industrial development of Tuocheng Town.SZCH carried out the aid for Tibet work with heart and emotion and sent the second batch of aid cadres to Chayu
Farm in Nyingchi Prefecture in Tibet to relay aid to Tibet. The company leaders led a team to Chayu Farm to
conduct research and make suggestions for the development of the local tea industry. Helped Chayu Farm to
68深圳市深粮控股股份有限公司2021年年度报告全文
increase its income by purchasing special agricultural products from the farm and donated 200000 yuan to Chayu
Farm to help farm workers improve their working and living conditions.SZCH actively responded to the policy requirements of “consumption poverty alleviation” combined with business
characteristics took multiple measures to expand the channels for purchasing poverty alleviation products and
made a good combination of consumption poverty alleviation to further open up the “fast track” for the realization
of poverty alleviation agricultural products.
69深圳市深粮控股股份有限公司2021年年度报告全文
Section VI. Important Events
I. Implementation of commitment
1. Commitments completed in Period and those without completed till end of the Period from actual
controller shareholders related parties purchaser and companies
√Applicable □ Not applicable
Type of Commit Commi Imple
Commitme Promise
commitm Content of commitments ment tment ment
nt reason by
ents date term ation
Commitme
nts for share
merger
reform
Commitme
nts in report
of
acquisition
or equity
change
Commitment to non-normal business enterprises: For
non-normal business enterprises under Shenzhen Cereals
Group (including but not limited to enterprises that have
been revoked business licenses discontinued operation
etc.) the committed person will fully assist urge and
promote Shenzhen Cereals Group to implement the
Norm
corresponding write-off procedures. After the completion Implem
Food Other al
of this reorganization if Shenzhen Cereals Group or the 2018-03 ent as
Commitme Materials commitm perfo
listed company is called to account receives -23 promis
nts in assets Group ents rman
administrative punishment or suffers any losses due to ed
reorganizati ce
the abnormal operation of the non-normal business
on
enterprises or the failure to handle write-off procedures
in time the committed person will bear the relevant legal
liability and fully compensate the listed company and
the target company within 30 working days after the
actual loss occurs.Food Other Relevant Commitments Regarding the Existence of Implem Norm
Materials commitm Flaws in Leased Property: The leased house property of ent as al
-23
Group ents Shenzhen Cereals Group and its holding subsidiaries has promis perfo
70深圳市深粮控股股份有限公司2021年年度报告全文
the following conditions: (1) The lessor has not provided ed rman
the ownership documentary evidence of the property ce
and/or the documentary evidence proving the lessor has
the right to rent out the house property. (2) The lease
term of part of the leased house property is more than 20
years; (3) Shenzhen Cereals Group and its subsidiaries
sublet part of the leased house property to a third party
without the consent of the lessor; (4) The leased house
property of Shenzhen Cereals Group and its holding
subsidiary has not been registered for the housing lease.If Shenzhen Cereals Group and its holding subsidiaries
are imposed any form of punishment by the relevant
government departments or assume any form of legal
responsibility or occur any losses or expenses because
their leased place and / or house property do not comply
with relevant laws and regulations the committed person
will be willing to bear any losses damages claims costs
and expenses incurred suffered and assumed by
Shenzhen Cereals Group and its holding subsidiaries
and protect Shenzhen Cereals Group and its holding
subsidiaries from damages. In addition the committed
person will support Shenzhen Cereals Group and its
holding subsidiaries to actively advocate their rights
against the corresponding parties in order to safeguard
and protect the interest of Shenzhen Cereals Group and
the listed companies to the maximum extent.Commitment Letter on Flaws in House Property and
Land: In the case that some of the house properties held
by Shenzhen Cereals Group fail to rename the obligee of
the property ownership certificate the committed person
will fully assist urge and promote Shenzhen Cereals
Group or its subsidiaries to go through the formalities.After the completion of this reorganization if Shenzhen
Norm
Cereals Group or the listed company is called to account Implem
Food Other al
receives administrative punishment or suffers any losses 2018-03 ent as
Materials commitm perfo
due to the failure to rename the obligee of the property -23 promis
Group ents rman
ownership certificate the committed person will bear the ed
ce
relevant legal liability and fully compensate the listed
company and Shenzhen Cereals Group within 30
working days after the actual loss occurs. In view of the
fact that some house properties held by Shenzhen
Cereals Group fail to complete the registration
procedures for ownership transfer the committed person
will fully assist urge and promote Shenzhen Cereals
71深圳市深粮控股股份有限公司2021年年度报告全文
Group to complete the relevant transfer procedures. After
the completion of this reorganization if Shenzhen
Cereals Group or the listed company is called to account
receives administrative punishment or suffers any losses
due to the failure to rename the obligee of
above-mentioned property the committed person will
bear the relevant legal liability and fully compensate the
listed company and Shenzhen Cereals Group within 30
working days after the actual loss occurs. In response to
the conversion of non-market commercial housing held
by Shenzhen Cereals Group into market commercial
housing the committed person will fully assist urge and
promote Shenzhen Cereals Group to go through the
formalities. After the completion of this reorganization
if Shenzhen Cereals Group or the listed company is
called to account receives administrative punishment or
suffers any losses due to the failure to complete the
conversion of non-market commercial housing into
market commercial housing the committed person will
bear the relevant legal liability and fully compensate the
listed company and Shenzhen Cereals Group within 30
working days after the actual loss occurs. In view of the
fact that some house properties of Shenzhen Cereals
Group have not been renewed for the land use period the
committed person will fully assist urge and promote
Shenzhen Cereals Group to renew the corresponding
land use right period. After the completion of this
reorganization if Shenzhen Cereals Group or the listed
company is called to account receives administrative
punishment or suffers any losses due to the failure to
renew the land use right period the committed person
will bear the relevant legal liability and fully
compensate the listed company and Shenzhen Cereals
Group within 30 working days after the actual loss
occurs. In view of the fact that some house properties of
Shenzhen Cereals Group have not been registered for
ownership transfer or renewed the land use period the
committed person will fully assist urge and promote
Shenzhen Cereals Group to handle the corresponding
land use rights renewal and ownership transfer
registration procedures. After the completion of the
reorganization if Shenzhen Cereals Group or the listed
company is called to account receives administrative
punishment or suffers any losses due to the failure to
72深圳市深粮控股股份有限公司2021年年度报告全文
complete the above-mentioned land use right renewal
and ownership transfer registration procedures the
committed person will bear the relevant legal liability
and fully compensate the listed company and Shenzhen
Cereals Group within 30 working days after the actual
loss occurs. In view of the fact that the property of
SZCG Sungang Warehouse has not completed the
registration for converting non commercial housing into
commercial housing after the completion of the
reorganization if Shenzhen Cereals Group or the listed
company is called to account receives administrative
punishment or suffers any losses as the property of
Sungang Warehouse is not registered for converting non
commercial housing into commercial housing in time
the committed person will bear the relevant legal
liability and fully compensate the listed company and
Shenzhen Cereals Group within 30 working days after
the actual loss occurs. In view of the fact that the land
and property of SZCG Shuguang Grain Depot have not
passed the completion acceptance nor completed the
registration of commercial housing after the completion
of the reorganization if Shenzhen Cereals Group or the
listed company is called to account receives
administrative punishment or suffers any losses as the
land and property of Shuguang Grain Depot have not
timely passed the completion in time nor completed the
registration of commercial housing the committed
person will bear the relevant legal liability and fully
compensate the listed company and Shenzhen Cereals
Group within 30 working days after the actual loss
occurs. In view of the fact that the property of SZCG
Flour Factory has not completed the conversion of
non-commercial housing into commercial housing and
the relocation after the completion of the reorganization
if Shenzhen Cereals Group or the listed company is
called to account receives administrative punishment or
suffers any losses as Flour Factory doesn’t complete the
conversion of non-commercial housing into commercial
housing and the relocation the committed person will
bear the relevant legal liability and fully compensate the
listed company and Shenzhen Cereals Group within 30
working days after the actual loss occurs. In view of the
fact that the land of Heilongjiang Hongxinglong
Nongken Shenxin Grain Industry Park Co. Ltd. a
73深圳市深粮控股股份有限公司2021年年度报告全文
subsidiary of Shenzhen Cereals Group has not applied
for land use right certificates the committed person will
fully assist urge and promote the subsidiary of Shenzhen
Cereals Group to manage the application procedures of
the corresponding land use right certificates. After the
completion of the reorganization if Shenzhen Cereals
Group or the listed company is called to account
receives administrative punishment or suffers any losses
because the land use right certificate cannot be issued
due to any ownership disputes in the above-mentioned
land use right the committed person will bear the
relevant legal liability and fully compensate the listed
company and Shenzhen Cereals Group within 30
working days after the actual loss occurs. If Shenzhen
Cereals Group and its holding subsidiaries are required
to take back the sites and/or properties or imposed any
form of punishment by the relevant government
departments or assume any legal liability or suffer any
losses or expenses arising from the modification for
flaws in sites and/or properties as the above-mentioned
and other self-owned or leased sites and/or properties fail
to comply with the relevant laws and regulations the
committed person will assume any losses damages
claims costs and expenses incurred suffered and
assumed by Shenzhen Cereals Group and its holding
subsidiaries and protect the list companies and
Shenzhen Cereals Group from damages. In addition the
committed person will support the company and its
holding subsidiaries to actively advocate their rights
against the corresponding parties in order to safeguard
and protect the interest of the company and its holding
subsidiaries to the maximum extent.Commitment Letter on the Company’s System Reform
and System Evaluation of Shenzhen Cereals Group in
1998: After the completion of this restructuring if
Norm
Shenzhen Cereals Group or the listed company is called Implem
Food Other al
to account receives administrative punishment or suffers 2018-03 ent as
Materials commitm perfo
any losses as the system reform is not evaluated or other -23 promis
Group ents rman
reasons related to this reform the committed person will ed
ce
bear the relevant legal liability and fully compensate the
listed company and Shenzhen Cereals Group within 30
working days after the actual loss occurs.Food Other Commitment to Maintain the Position of Controlling 2018-03 2023-1 Norm
Materials commitm Shareholders of Listed Companies: Within 60 months -23 1-12 al
74深圳市深粮控股股份有限公司2021年年度报告全文
Group ents from the date of completion of this transaction the perfo
Company promises not to voluntarily give up the rman
controlling shareholder status in the listed company and ce
guarantees that the controlling shareholder status of the
listed company will not be changed due to reasons of the
Company during this period nor assists any other party
to seek the controlling shareholder status of the listed
company. Within 60 months from the date of completion
of this transaction the Company will not take the
initiative to change the status of the controlling
shareholder of the listed company through any actions
including reducing the share holding in the listed
company.Commitment on the public shares: After the completion
of the transaction the committed person will cautiously
nominate directors and supervisors and will not
nominate candidates for directors supervisors and senior
management to the listed company that will cause the Norm
Implem
Food Other proportion of public shares of the listed company not al
2018-03 ent as
Materials commitm meet the requirements of the Listing Rules of Shenzhen perfo
-23 promis
Group ents Stock Exchange.; nor will vote for the relevant rman
ed
shareholders’ meeting and/or board resolutions for ce
selecting directors supervisors and senior executives of
listed companies that will make the proportion of public
shares of listed companies not meet the requirements of
the Listing Rules of Shenzhen Stock Exchange.Commitment on the Lock-up Period of the Shares:
Shenzhen Shenbao Industrial Co. Ltd. (hereinafter
referred to as “Shenshenbao” and “Listed Company”)
intends to purchase the 100% equity of Shenzhen
Cereals Group Co. Ltd. (hereinafter referred to as
“SZCG” “target company”) held by the shareholders of
SZCG through issuance of shares. Shenzhen Food
Shares NormMaterials Group Co. Ltd (hereinafter referred to as “theFood limited alcommitted person”) the controlling shareholder of 2018-04 2022-5-
Materials for sale perfo
SZCG has made the following commitments: 1. The -02 12
Group commitm rman
committed person should not transfer the shares of the
ent ce
listed company obtained from this transaction within 36
months from the date of listing of the shares. If the
closing price of the listed company’s stock is lower than
the issue price for 20 consecutive trading days within 6
months after the completion of this transaction or the
closing price is lower than the issue price at the term end
of 6 months after the completion of the transaction the
75深圳市深粮控股股份有限公司2021年年度报告全文
lock-up period for the committed person to hold the
company’s stock automatically prolongs for at least 6
months. 2. At the expiration of the above-mentioned
lock-up period if the committed person doesn’t fully
fulfill the performance compensation obligation
stipulated in the Performance Compensation Agreement
the lock-up period of the shares issued to the committed
person will be prolonged to the date when the
performance compensation obligation is fulfilled. 3.Before this transaction the shares of the Listed Company
held by the committed person and the companies
controlled by the promise shall not be transferred within
12 months after the completion of this transaction. 4.
During the lock-up period of shares the part that the
committed person has increased due to the bonus issue
of dividends transfer of share capital or share allotment
of the Listed Company and other ex dividend and ex
right matters should also abide by the above-mentioned
share lock-up arrangement. 3. If the above lock-up
period does not comply with the latest regulatory
requirements of the securities regulatory authority the
committed person will agree to make corresponding
adjustments according to the latest regulatory opinions
of the regulatory authorities and implement in
accordance with the relevant provisions of the China
Securities Regulatory Commission and the Shenzhen
Stock Exchange after the lock-up period expires.Commitment letter of Shenzhen Food Materials Group
Co. Ltd on pending litigation of Shenzhen Cereals
Group Co. Ltd.: Shenzhen Shenbao Industrial Co. Ltd.(hereinafter referred to as “Shenshenbao” “ListedCompany”) intends to purchase the 100% equity of
Shenzhen Cereals Group Co. Ltd. (hereinafter referred
to as “SZCG” “target company”) held by the Norm
Implem
Food Other shareholders of SZCG through issuance of shares. In al
2018-04 ent as
Materials commitm view of the two unfinished major lawsuits/arbitration of perfo
-02 promis
Group ents SZCG Shenzhen Food Materials Group Co. Ltd rman
ed
(hereinafter referred to as “the committed person”) the ce
controlling shareholder of SZCG has made the following
commitments: If SZCG and its controlling subsidiaries
suffer any claims compensation losses or expenses due
to the unsettled major lawsuits/arbitration about the
contract dispute of international sale of soybean with
Noble Resources Co. Ltd. and the contract dispute with
76深圳市深粮控股股份有限公司2021年年度报告全文
Guangzhou Jinhe Feed Co. Ltd. and Huangxianning
Import Agent the committed person will assume the
compensation or loss caused by the above two
outstanding major lawsuits/arbitration.Commitment letter of Shenzhen Food Materials Group
Co. Ltd. on risks of making a supplementary payment
for the rent at earlier stage of Pinghu Grain Depot:
Shenzhen Shenbao Industrial Co. Ltd. intends to
purchase the 100% equity of Shenzhen Cereals Group
Co. Ltd. (hereinafter referred to as “SZCG”) held by the
Norm
shareholders of SZCG through issuance of shares. Implem
Food Other al
Shenzhen Food Materials Group Co. Ltd. (hereinafter 2018-04 ent as
Materials commitm perfo
referred to as “the committed person”) the controlling -02 promis
Group ents rman
shareholder of SZCG has made the following ed
ce
commitments: If SZCG needs to make a supplementary
payment for the rent before assessment basis date to the
property right unit of Pinghu Grain Depot (or its
authorized unit) the total amount of the rent and other
related charges and expenses shall be borne by the
committed person.Commitment letter on the house properties of Shenzhen
Cereals Group and its subsidiaries that have not obtained
the housing ownership certificate: Shenzhen Shenbao
Industrial Co. Ltd. (hereinafter referred to as
“Shenshenbao” and “listed company”) intends to
purchase the 100% equity of Shenzhen Cereals Group
Co. Ltd. (hereinafter referred to as “SZCG” “targetNormcompany”) held by the shareholders of SZCG through Implem
Food Other al
issuance of shares. Shenzhen Food Materials Group Co. 2018-04 ent as
Materials commitm perfo
Ltd (hereinafter referred to as “the committed person”) -02 promis
Group ents rman
the controlling shareholder of SZCG has made the ed
ce
following commitments: If SZCG and its subsidiaries
suffer any administrative punishment or losses due to
their house properties without the housing ownership
certificate the committed person will bear the relevant
legal responsibilities and fully compensate the listed
company and SZCG within 30 working days after the
actual loss occurs.Shares Commitment on Shenzhen Food Materials Group Co. Norm
Implem
Food limited Ltd to accept the restricted shares of non-tradable shares al
2018-04 ent as
Materials for sale reform of Shenzhen Shenbao Industrial Co. Ltd. held by perfo
-04 promis
Group commitm Shenzhen Investment Holdings Co. Ltd.: Shenzhen rman
ed
ent Food Materials Group Co. Ltd (hereinafter referred to as ce
77深圳市深粮控股股份有限公司2021年年度报告全文
“Food Materials Group”) accepts 79484302 shares of A
shares of Shenshenbao A (000019) (including
66052518 shares of unrestricted A shares and
13431784 shares of restricted A shares ) held by
Shenzhen Investment Holdings Co. Ltd. (hereinafter
referred to as “Shenzhen Investment Holdings”) by the
free transfer totally accounting for 16% of the total share
capital of Shenshenbao. Shenzhen Investment Holdings
made the following commitments in the reform ofnon-tradable shares of Shenshenbao in 2006: “To makeeffective and long-term incentives for the management
after the completion of the share reform Shenzhen
Agricultural Products Co. Ltd. (hereinafter referred to as
“Agricultural Products”) and Shenzhen Investment
Holdings the company’s non-tradable shareholders will
sell their shareholdings after consideration which
account for 6%-8% of the company’s total share capital
to the management of the company in three years based
on the shareholding ratio of Agricultural Products and
Shenzhen Investment Holdings after the share reform
(i.e. accounting for 6%-8% of the company’s total sharecapital of 181923088 shares after the share reform).”
Food Materials Group made a commitment that after the
completion of the free transfer of the state-owned shares
Food Materials Group would continue to perform the
above commitments it made when Shenzhen Investment
Holdings makes the non-tradable shares reform to
Shenshenbao which is effective in the long run.Commitment Letter on Avoiding Horizontal
Competition: In view of the fact that Shenzhen ShenbaoCommit Industrial Co. Ltd. (hereinafter referred to as “Listedments on Company”) intends to acquire 100% equity of Shenzhen
inter-ind Cereals Group Co. Ltd. held by Shenzhen Foodustry Materials Group Co. Ltd(hereinafter referred to as “theNormcompetiti Company”) by issuing shares to purchase assets the Implem
Food al
on Company has made the following commitments: 1. As of 2018-06 ent as
Materials perfo
related the issue date of this Commitment Letter the Company -08 promis
Group rman
transacti and other enterprises controlled by the Company have ed
ce
ons and not engaged in any business or activity that directly or
capital indirectly constitute horizontal competition to the Listed
occupanc Company and its subsidiaries in the business and
y guarantees that it will not engage or induce any
enterprise controlled by the Company to engage in any
business or activity that directly or indirectly constitute
78深圳市深粮控股股份有限公司2021年年度报告全文
horizontal competition to the Listed Company and its
subsidiaries in the future. 2. If the business opportunity
obtained by the Company and other enterprises
controlled by the Company constitutes horizontal
competition or may constitute horizontal competition to
the main business of the Listed Company and its
subsidiaries the Company will immediately notify the
Listed Company and try its best to give the business
opportunity to the Listed Company to avoid horizontal
competition or potential horizontal competition with the
Listed Company and its subsidiaries and ensure the
interests of Listed Company and other shareholders of
Listed Company are not impaired. 3. If the main
business of the Listed Company and its subsidiaries
constitutes horizontal competition or may constitute
horizontal competition to the Company and other
enterprises controlled by the Company due to business
development or extension the Company and other
enterprises controlled by the Company shall take the
following feasible measures based on specific
circumstance to avoid competition with the Listed
Company: (1) Stop business that constitutes competition
or may constitute competition to the Listed Company;
(2)Transfer the competitive businesses and assets to the
Listed Company at fair prices; (3) Transfer the
competitive business to an unrelated third party; (4)
Other ways to protect the interests of the Listed
Company; 4. If the Company violates the above
commitments and causes losses to the Listed Company
the Company will compensate the Listed Company for
the incurred losses after the losses are determined. 5. The
above commitments continue to be valid during the
period when the Company is the controlling shareholder
of the Listed Company.Commit Commitment Letter on Reducing and Regulating Related
ments on Transactions: In view of the fact that Shenzhen Shenbaointer-ind Industrial Co. Ltd. (hereinafter referred to as “ListedNormustry Company”) intends to acquire 100% equity of Shenzhen Implem
Food al
competiti Cereals Group Co. Ltd. held by Shenzhen Food 2018-06 ent as
Materials perfoon Materials Group Co. Ltd(hereinafter referred to as “the -08 promisGroup rmanrelated Company”) by issuing shares to purchase assets the ed
ce
transacti Company has made the following commitments: 1. The
ons and enterprises directly or indirectly controlled or affected by
capital the Company and the restructured company and its
79深圳市深粮控股股份有限公司2021年年度报告全文
occupanc holding companies will regulate and minimize the
y related transactions. For related transactions that cannot
be avoided or have reasonable reasons to occur the
Company promises to follow the market-oriented
principle of justice fairness and openness and sign
agreements in accordance with relevant laws and
regulations regulatory documents and articles of
association perform legal procedures fulfill information
disclosure obligations and handle relevant approval
procedures in accordance with the law and ensure not to
damage the legitimate rights and interests of the
company and other shareholders through related
transactions. 2. The enterprises directly or indirectly
controlled or affected by the Company will strictly avoid
borrowing from the company and its holding and
shareholding companies occupying the funds of the
company and its holding and shareholding companies or
embezzling the company’s funds by taking advance
payments and compensatory debts from the company
and its holding and shareholding companies. 3. After the
completion of this transaction the Company will
continue to exercise its shareholder rights in strict
accordance with the relevant laws and regulations
regulatory documents and the relevant provisions of the
Articles of Association; and fulfill its obligation of
avoiding voting when the company’s general meeting of
shareholders is voting on related transactions involving
the Company. 4. The Company guarantees not to obtain
any improper interests through the related transactions or
cause the company and its holding and shareholding
companies to bear any wrongful obligations. If the
company or its holding and shareholding companies
suffer loses or the interests of the company or its holding
and shareholding companies are embezzled by related
transactions the Company will the losses of the
company and its holding and shareholding companies.Commitment on the Standardized Operation of Listed
Company: Shenzhen Shenbao Industrial Co. Ltd.Norm
intends to purchase 100% equity of Shenzhen Cereals Implem
Food Other al
Group Co. Ltd. (hereinafter referred to as “SZCG”) held 2018-06 ent as
Materials commitm perfo
by Shenzhen Food Materials Group Co. Ltd (hereinafter -08 promis
Group ents rman
referred to as “the Company”) through issuance of ed
ce
shares. In response to the above transactions the
Company has made the following commitments: After
80深圳市深粮控股股份有限公司2021年年度报告全文
the completion of this transaction the committed person
promises to ensure that the listed company will strictly
follow the requirements of laws and regulations such asthe “Guidelines for the Governance of ListedCompanies” and the changes in internal management and
external operation and development of listed company to
revise the “Articles of Association” and related rules of
procedure so as to adapt to the business operations and
corporate governance requirements after the
reorganization continue to improve the governance
structure of listed company continuously strengthen the
system construction to form a corporate governance
structure that each performs their own duties effectively
checks and balances makes scientific decisions and
coordinates the operation so as to more effectively and
feasibly protect the interests of the listed company and
all its shareholders. The committed person will urge the
listed company to perform the functions of the
shareholders’ meeting in strict accordance with the
“Articles of Association” and the “Rules of Proceduresof the Shareholders Meeting” ensure that all
shareholders especially small and medium shareholders
enjoy equal rights as stipulated by laws administrative
regulations and the Articles of Association and ensure
that all shareholders legally exercise their rights and
interests. The committed person will also urge the listed
company to further improve the institutional
requirements of the board of directors ensure that the
board of directors fairly scientifically and efficiently
makes decisions ensure that independent directors can
perform their duties in accordance with laws and
regulations during their employment actively understand
the various operations of the listed company consciously
perform responsibilities play a positive role in the
scientific decision-making of the board of directors and
the development of the listed company promote the
sound development of the listed company and
effectively safeguard the overall interests of the listed
company and the interests of small and medium-sized
shareholders. In addition the Company will urge the
listed company to give full play to the positive role of
independent directors in regulating the operation of the
company strictly abide by relevant national laws
regulations rules and relevant provisions of the Articles
81深圳市深粮控股股份有限公司2021年年度报告全文
of Association to select independent directors and
further enhance corporate governance.Commitment Letter on the Legal Compliance of the
Underlying Asset Operation: Shenzhen Shenbao
Industrial Co. Ltd. (hereinafter referred to as
“Shenshenbao” “Listed Company”) intends to purchase
100% equity of Shenzhen Cereals Group Co. Ltd.
(hereinafter referred to as “SZCG” “Target Company”)
held by Shenzhen Food Materials Group Co. Ltd
(hereinafter referred to as “the Company”) through
issuance of shares. The Company has made the
following commitments: 1. The Target Company is a
limited liability company established according to law
and is validly existing possesses statutory business
qualifications and the Target Company has obtained all
the approvals consents authorizations and licenses
required for its establishment and operation and all
approvals consents and authorizations and licenses are
valid and there is no reason or case that may result in the
invalidation of the above approvals consents
authorizations and licenses. 2. The Target Company has
Norm
no major violations of laws and regulations in the Implem
Food Other al
production and operation in the last three years there is 2018-06 ent as
Materials commitm perfo
no case that the Target Company should be terminated -08 promis
Group ents rman
according to relevant laws regulations normative ed
ce
documents and the company’s articles of association.Except for litigations arbitrations and administrative
penalties disclosed in the Restructuring Report the
Target Company does not have any unsettled or
foreseeable major litigation arbitration and
administrative penalty that adversely affect its operations
or the amount is more than 10 million yuan. 3. The
Target Company will perform the labor contracts with its
employees independently and completely. 4. If the Target
Company is subject to the fees or penalties of the
relevant competent authorities in terms of industry and
commerce taxation employee salaries social security
housing provident fund business qualifications or
industry supervisors due to the facts already existing
before the reorganization the Company will fully
compensates all the outstanding fees of the Target
Company and bear all the losses suffered by
Shenshenbao and the Target Company. 5. The Target
Company legally owns the ownership and/or use rights
82深圳市深粮控股股份有限公司2021年年度报告全文
of the offices office equipment trademarks and other
assets required for normal production and operation has
independent and complete assets and business structure
and has legal ownership of its main assets and the
ownership of assets is clear. 6. There is no case that the
Target Company impedes the transfer of ownership of
the company such as litigation arbitration judicial
enforcement etc. and there is no external guarantee that
violates the law or the articles of association. After this
reorganization if the Company violates the above
commitments and causes losses to Shenshenbao and the
Target Company the Company agrees to bear the
aforementioned compensation/ liability for damage to
Shenshenbao/ Target Company.Commitment on the Independence of Listed Company:
In view of the fact that Shenzhen Shenbao Industrial Co.Ltd. (hereinafter referred to as “Shenshenbao”) intends
to acquire 100% equity of Shenzhen Cereals Group Co.Ltd. (hereinafter referred to as “Target Company”) held
by Shenzhen Food Materials Group Co. Ltd (hereinafter
referred to as “the Company”) by issuing shares to
purchase assets the Company has made the following
commitments: 1. Guarantee the independence of the
personnel of Shenshenbao and the Target Company (1)
Guarantee that the labor personnel and compensation
management of Shenshenbao and Target Company are
completely independent of the Company and other
Norm
companies and enterprises controlled by the Company or Implem
Food Other al
other economic organizations and related parties after the 2018-06 ent as
Materials commitm perfo
completion of this restructuring. (2) Guarantee that the -08 promis
Group ents rman
senior management personnel of Shenshenbao and ed
ce
Target Company are fully employed in Shenshenbao and
Target Company and receive remuneration after the
completion of this restructuring and do not hold any
post except for directors and supervisors in the Company
and other companies enterprises controlled by the
Company or other economic organizations and related
parties. (3) Ensure not to intervene into the shareholders’
meeting and the board of directors of Shenshenbao and
Target Company to exercise their powers to determine
the appointment and dismissal of personnel after the
completion of this restructuring. 2. Guarantee the
institutional independence of Shenshenbao and Target
Company (1) After the completion of this restructuring
83深圳市深粮控股股份有限公司2021年年度报告全文
Shenshenbao and Target Company will establish a sound
corporate governance structure and have an independent
and complete organization. (2) After the completion of
this restructuring the shareholders meeting the board of
directors and the board of supervisors of Shenshenbao
and Target Company shall independently exercise their
functions and powers in accordance with the laws
regulations and the articles of association of
Shenshenbao and Target Company. 3. Ensure that the
assets of Shenshenbao and Target Company are
independent and complete. (1) After the completion of
this restructuring Shenshenbao and Target Company
shall have independent and complete assets related to
production and operation. (2) Ensure that the site for
business operation of Shenshenbao and Target Company
are independent of the Company and other companies
and enterprises controlled by the Company or other
economic organizations and related parties after the
completion of this restructuring. (3) In addition to
normal business transactions after the completion of this
restructuring Shenshenbao and Target Company do not
have funds and assets which are occupied by the
Company and other companies and enterprises
controlled by the Company or other economic
organizations and related parties. 4. Guarantee the
business independence of Shenshenbao and Target
Company (1) After the completion of this restructuring
Shenshenbao and Target Company shall have the
relevant qualifications for independent business
activities and have the market-oriented independent
autonomous and sustainable operation capabilities. (2)
After the completion of this restructuring the Company
and other companies and enterprises controlled by the
Company or other economic organizations and related
parties shall reduce the related transactions with
Shenshenbao and Target Company and other companies
and enterprises controlled by them or other economic
organizations; for the necessary and unavoidable related
transactions guarantee the fair operation according to
market principles and fair prices and perform relevant
approval procedures and information disclosure
obligations in accordance with relevant laws regulations
and regulatory documents. 5. Guarantee the financial
independence of Shenshenbao and Target Company (1)
84深圳市深粮控股股份有限公司2021年年度报告全文
Ensure that Shenshenbao and Target Company will
establish an independent financial department and an
independent financial accounting system and a
standardized and independent financial accounting
system after the completion of this restructuring. (2)
Ensure that Shenshenbao and Target Company will open
an independent bank account after the completion of this
restructuring and will not share bank accounts with the
Company and other companies and enterprises
controlled by the Company or other economic
organizations and other related parties. (3) After the
completion of this restructuring the financial personnel
of Shenshenbao and Target Company shall not take
part-time jobs in the Company and other companies and
enterprises controlled by the Company or other
economic organizations and related parties. (4) After the
completion of this restructuring Shenshenbao and Target
Company shall be able to make financial decisions
independently the Company shall not interfere with the
use of funds of Shenshenbao and Target Company. (5)
After the completion of this restructuring Shenshenbao
and Target Company shall pay taxes independently
according to law. If the Company violates the above
commitments it will bear all the losses caused to
Shenshenbao and Target Company.Commitment to Avoid Occupation of Non-operating
Capital: Shenzhen Shenbao Industrial Co. Ltd. intends
to acquire 100% equity of Shenzhen Cereals Group Co.Ltd. (hereinafter referred to as “SZCG”) held by
Commit
Shenzhen Food Materials Group Co. Ltd (hereinafter
ments on
referred to as “the Company”) through issuance of
inter-ind
shares. In response to the above transactions Food
Food ustry
Materials Group and Agricultural Products have made Norm
Materials competiti Implem
the following commitments: 1. As of the issue date of al
Group on 2018-06 ent as
this commitment letter the committed person and its perfo
Agricult related -08 promis
related person do not have any illegal use of funds and rman
ural transacti ed
assets of the listed company and SZCG and there is no ce
Products ons and
case that the listed company and SZCG provide illegal
capital
guarantee for the committed person and its related
occupanc
person. 2. After the completion of the transaction the
y
committed person guarantees that the committed person
and its related person shall not illegally occupy the funds
and assets of the listed company in any way nor require
the listed company to provide illegal guarantee for the
85深圳市深粮控股股份有限公司2021年年度报告全文
committed person and its related person under any
circumstances nor engage in any act to damage the
legitimate rights and interests of the listed company and
other shareholders. If the committed person violates the
above commitments it will bear all losses caused to the
listed company and the target company and other
companies and enterprises controlled by them or other
economic organizations.Commitme
nts make in
initial
public
offering or
re-financing
Equity
incentive
commitmen
t
Other
commitmen
ts for
medium and
small
shareholder
s
Completed
on time Y
(Y/N)
If the
commitmen
t is overdue
and has not
been
fulfilled the
specific
reasons for -
incomplete
performanc
e and the
work plan
for next
step shall be
explained in
86深圳市深粮控股股份有限公司2021年年度报告全文
detail
2. Concerning assets or project of the Company which has profit forecast and reporting period still in
forecasting period explain reasons of reaching the original profit forecast
□ Applicable √Not applicable
II. Non-operational fund occupation from controlling shareholders and its related party
□ Applicable √ Not applicable
No non-operational fund occupation from controlling shareholders and its related party in period.III. External guarantee out of the regulations
□ Applicable √ Not applicable
No external guarantee out of the regulations occurred in the period.IV. Statement on the latest “modified audit report” by BOD
□ Applicable √Not applicable
V. Explanation from Board of Directors Supervisory Committee and Independent Directors
(if applicable) for “Qualified Opinion” that issued by CPA
□ Applicable √Not applicable
VI. Explanation of the changes in accounting polices accounting estimates or correction of
significant accounting errors compared with the financial report of the previous year
√Applicable □ Not applicable
Changes of important accounting policies
(1) Implementation of the Accounting Standards for Business Enterprises No. 21 - Lease (2018 Revision)
The Ministry of Finance revised the Accounting Standards for Business Enterprises No. 21 -- Lease ("New Lease
Standards" for short) in 2018. The Company has implemented the new lease standards from January 1 2021.According to the revised standards the company chooses not to re-evaluate whether they are leases or include
leases on the first execution date for contracts that already exist prior to the first execution date.The Company acts as the lessee
The Company chooses to adjust the amount of retained earnings and other relevant items in its financial
statements at the beginning of the year of the first implementation of the new lease standards based on the
cumulative impact of the first implementation of the new lease standards without adjusting the comparable period
information.For an operating lease existing prior to the first execution date the Company shall measure the lease liabilities at
87深圳市深粮控股股份有限公司2021年年度报告全文
the first execution date based on the present value of the remaining lease payment discounted at the incremental
borrowing rate of the Company at the first execution date and measure the right-of-use assets according to one of
the following two ways for each lease:
Assume that the book value of the new lease standards is adopted on the start date of the lease term and the
Company's incremental borrowing rate on the first execution date is used as the discount rate.Make necessary adjustments to the prepaid rent for the amount equal to the lease liability.Tip: Under each lease the enterprise may choose to measure the right-of-use assets according to either of the
above
For operating leases prior to the first execution date the Company may choose one or more of the following
simplified treatments for each lease in conjunction with the above method: Tip: the enterprises need to be
modified according to the actual situation
1) The leases completed within 12 months after the first execution date shall be treated as short-term leases;
2) When measuring lease liabilities leases with similar features shall use the same discount rate;
3) The measurement of the right-of-use assets does not include the initial direct cost;
4) Where there is an option to renew or terminate the lease the lease term shall be determined according to the
actual exercise of the option prior to the first exercise and other latest conditions;
5) As an alternative to the impairment test of the right-of-use asset assess whether the contract containing the
lease is a loss contract prior to the first execution date in accordance with the Notes "III (24). Estimated
Liabilities" and adjust the right-of-use asset according to the amount of loss provisions recorded in the balance
sheet prior to the first execution date;
6) The lease changes occurring before the first execution date shall not be retroactively adjusted and the
accounting treatment shall be conducted in accordance with the final arrangement of lease changes and the new
lease standards.When measuring the lease liability the Company uses the lessee’s incremental borrowing ate as of January 1
2021 (weighted average: 4.15%) to discount the lease payments
Outstanding minimum lease payments under significant operating lease as disclosed in the
2520375.75
consolidate financial statements as of December 31 2020
Present value of the interest rate discounted at the incremental borrowing rate on January 1 2021 2120031.14
Lease liability under the new leasing standards as of January 1 2021 2120031.14
Difference between the present value of the above discount and the lease liability
For the finance lease existing before the first execution date the Company shall measure the right-of-use assets
and lease liabilities respectively on the first execution date according to the original book value of the finance
lease assets and the finance lease payments payable.The Company acts as the lessor
For the subleases classified as operating leases prior to the first execution date and surviving after the first
execution date the Company will re-evaluate them on the first execution date on the basis of the remaining
88深圳市深粮控股股份有限公司2021年年度报告全文
contract term and terms of the original lease and the sublease and classify them in accordance with the provisions
of the new lease standards. If they are reclassified as finance leases the Company will treat them as new finance
leases.Except for subleases the Company does not need to adjust the leases on which it is the lessor in accordance with
the new lease standards. The company shall conduct accounting treatment in accordance with the new lease
standards from the first execution date.The main effects of the Company's implementation of the new lease standards on the financial statements are as
follows:
Content and reasons for Approval Statement items affected Impact on the amount on balance as of 1 Jan. 2021
changes in accounting procedure Consolidate Parent company
policies
(1) As a lessee the Imple Right-of-use assets 2120031.14
adjustment of the mented Lease liability 1839885.54
operating leases existing in Non-current liabilities due in one
before the date of fist accord year
execution ance
with
the 280145.60
Ministr
y of
Financ
e
(2) Implementation of the "Interpretation No. 14 of Accounting Standards for Business Enterprises"
The Ministry of Finance promulgated the "Interpretation No. 14 of Accounting Standards for Business
Enterprises" (CK[2021] No. 1 hereinafter referred to as "Interpretation No. 14") on February 2 2021 which has
taken effect as of the date of promulgation. The relevant business added from January 1 2021 to the effective date
shall be adjusted according to Interpretation No. 14.* Public-private partnership (PPP) project contracts
Interpretation No. 14 is applicable for the PPP project contracts that meet the "dual features" and "double
controls" described in the interpretation at the same time and makes retroactive adjustment on the relevant PPP
project contracts that have been implemented before December 31 2020 and have not been completed up to the
implementation date where the retroactive adjustment is not feasible the application begins at the beginning of
the earliest period of retroactive adjustment cumulative impact adjusts the retained earnings at the beginning of
the year of the implementation date and other related items in the financial statements and information of
comparable periods shall not be adjusted. The implementation of the provisions does not have a significant impact
on the Company's financial situation and operating results.* Interest rate benchmark reform
Interpretation No. 14 provides a simplified accounting treatment for cases where the basis for determining cash
89深圳市深粮控股股份有限公司2021年年度报告全文
flows related to financial instrument contracts and lease contracts is changed as a result of the interest rate
benchmark reform.According to the provisions of this interpretation businesses related to the interest rate benchmark reform
occurring before December 31 2020 shall be subject to retroactive adjustment except where retroactive
adjustment is not feasible and there is no need to adjust the data in the previous comparative financial statements.On the implementation date of this interpretation the difference between the original carrying value of financial
assets and financial liabilities and the new carrying value shall be included in the retained earnings or other
comprehensive income at the beginning of the annual reporting period of the implementation date of this
interpretation. The implementation of the provisions does not have a significant impact on the Company's
financial situation and operating results.
(3) Execution of the “Notice on the Adjustment of the Scope of Application of the Provisions on the AccountingTreatment of COVID-19 Related Rent Concessions”
On June 19 2020 the Ministry of Finance issued the "Regulations on Accounting Treatment of Rental
Concessions Related to the COVID-19 Epidemic" (CK (2020) No. 10) and enterprises can choose to adopt
simplified methods for accounting treatments for rent concessions and deferred payment of rents directly caused
by the COVID-19 epidemic that meet the conditions.On May 26 2021 the Ministry of Finance promulgated the Notice on the Adjustment of the Scope of Application
of the Provisions on the Accounting Treatment of COVID-19 Related Rent Concessions (CK [2021] No. 9) which
has taken effective from May 26 2021 the scope of application of COVID-19 pandemic-related rent concessions
which are allowed to adopt the simplified method under the Provisions on the Accounting Treatment of
COVID-19 Related Rent Concessions is adjusted from the "the concession applies only to lease payments payable
before 30 June 2021" to "the concession only applies to lease payments payable before 30 June 2022" to "the
concession only applies to lease payments payable before 30 June 2022" and other conditions remain unchanged.The Company has selected the simplified accounting treatment method for all the eligible lease contracts before
the adjustment of scope of application and adopted the simplified accounting treatment method for all the eligible
and similar lease contracts after the adjustment of scope of application(Tip: if not all the nature of the lease
contract treated using the simplified method should also be disclosed however the choice for the simplified
method should be applied consistently to similar leases that qualify before and after the adjustment to the scope of
application of the "Regulations on Accounting Treatment of Rental Concessions Related to the COVID-19
Epidemic" ) and made retroactive adjustment on relevant lease contracts that had adopted lease change for
accounting treatment before the release of the notice but did not adjust the data of the previous comparative
financial statement; The relevant rent concessions incurred between January 1 2021 and the effective date of the
notice of which accounting treatment are not conducted in accordance with the provisions of the notice shall be
adjusted in accordance with the notice.
90深圳市深粮控股股份有限公司2021年年度报告全文
(4) Implementation of the Interpretation No. 15 of Accounting Standards for Business Enterprises on the related
presentation of funds central management
On December 30 2021 the Ministry of Finance issued the Interpretation No. 15 of Accounting Standards for
Business Enterprises (CK [2021] No. 35 hereinafter referred to as “Interpretation No. 15”) the content of the
“related presentation of funds central management” came into force as of the date of its promulgation and the
financial statement data in the comparable period should be adjusted accordingly.Interpretation No. 15 has explicitly stipulated how the balance involved in the centralized and unified
management of the funds of the parent company and member units through internal settlement centers and finance
companies should be presented and disclosed in the balance sheet. The implementation of this stipulation has not
had a significant impact on the financial condition and operating results of the Company.Changes of important accounting estimate
Nil
Adjustment on the relevant items of financial statement at beginning of the year when implemented the new
leasing standards
Consolidate balance sheet
Item Balance at Balance at beginning Number adjusted
end of last of the year
Re-classified Re-measured Total
year
Right-of-use assets 2120031.14 2120031.14 2120031.14
Lease liability 1839885.54 1839885.54 1839885.54
Non-current liabilities due in 1042251
104505328.67280145.60280145.60
one year 83.07
The initial implementation of the new lease standard had no impact on the balance sheet of the parent company
VII. Compare with last year’s financial report; explain changes in consolidation statement’s
scope
√Applicable □ Not applicable
During the reporting period newly established the Dongguan Shenliang Hualian Grain & Oil Trading Co. Ltd acquired the Wuhan
Jiacheng Biotechnology Co. Ltd and cancellation of the Heilongjiang Hongxinglong Nongken Shenxin Cereals Industrial Park Co.ltd and Shenzhen Shenbao Property Management Co. Ltd.VIII. Appointment and non-reappointment (dismissal) of CPA
Accounting firm appointed
Name of domestic accounting firm BDO China Shu Lun Pan Certified Public Accountant LLP
91深圳市深粮控股股份有限公司2021年年度报告全文
Remuneration for domestic accounting firm (in 10 thousand
69
Yuan)
Continuous life of auditing service for domestic accounting
3
firm
Name of domestic CPA Qi Tao Tao Guoheng
Continuous life of auditing service for domestic CPA 3、2
Whether re-appointed accounting firms in this period or not
□ Yes √ No
Appointment of internal control auditing accounting firm financial consultant or sponsor
√Applicable □ Not applicable
During the reporting period BDO China Shu Lun Pan Certified Public Accountant LLP was hired as the internal control audit
institutions of the Company 290000 Yuan for internal control audit fee.IX. Particular about delisting after annual report disclosed
□ Applicable √Not applicable
X. Bankruptcy reorganization
□ Applicable √Not applicable
No bankruptcy reorganization for the Company in reporting period
XI. Significant lawsuits and arbitration of the Company
√Applicable □ Not applicable
Amount Executi
Trial Disclos
involved (in Resulted an accrual on of Disclosu
Lawsuits (arbitration) Progress result and ure
10 thousand liability (Y/N) judgme re date
influence index
Yuan) nt
As of 31 December Yes the single loan The Company After
2021 other lawsuits contract dispute from actively comprehe
that did not meet the subordinate enterprise makes use of nsive
disclosure standards of the Company is the analysis
for significant expected to form an advantageous the
It is
lawsuits mainly accrual liability of 3.5 resources of outcome Not Not
actively
including: disputes 10610.82 million yuan internal legal of the applicab applica
advanci
over purchase and approximately. Other affairs and cases le ble
ng
sales contract lawsuit-related cases external laws involved
disputes over are relatively small in firm to follow in the
construction contracts individual amount and up and deal lawsuits
franchise contract will not have a with the will not
disputes and private significant impact on lawsuit-relate have a
92深圳市深粮控股股份有限公司2021年年度报告全文
lending disputes etc. the Company when d cases. At significan
analyzed in conjunction present the t impact
with the progress of Company is on the
these cases. responding to Company
and dealing
with the cases
effectively in
accordance
with relevant
laws and
regulations
XII. Penalty and rectification
□ Applicable √Not applicable
No penalty and rectification for the Company in reporting period.XIII. Integrity of the Company and its controlling shareholders and actual controllers
□ Applicable √Not applicable
XIV. Major related transaction
1. Related transaction with routine operation concerned
□ Applicable √ Not applicable
No related transaction occurred in the period with routine operation concerned
2. Assets or equity acquisition and sales of assets and equity
□ Applicable √ Not applicable
No related transaction concerning the asses or equity acquisition and sold in the period
3. Related transaction of foreign investment
□ Applicable √Not applicable
No related transaction of foreign investment occurred in the period
4. Related credits and liabilities
□ Applicable √ Not applicable
No related credits and liabilities occurred in period
93深圳市深粮控股股份有限公司2021年年度报告全文
5. Contact with the related finance companies
□ Applicable √Not applicable
There are no deposits loans credits or other financial business between the finance companies with associated relationship and
related parties
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.XV. Significant contract and implementations
1. Trusteeship contract and leasing
(1) Trusteeship
□ Applicable √Not applicable
No trusteeship for the Company in reporting period
(2) Contract
□ Applicable √Not applicable
No contract for the Company in reporting period
(3) Leasing
□ Applicable √Not applicable
No leasing in the Period
2. Major Guarantee
√Applicable □ Not applicable
Unit: 10 thousand Yuan
External Guarantee (not including guarantees to subsidiaries)
Name of Related Comple Guaran
Actual
the Announc Actual Count te tee for
Guarante date of Guarante Collateral Guarant
Company ement guarantee implem related
e limit happenin e type er (if any) ee term guarantee disclosur limit entation party
g
d e date guara or not (Y/N)
94深圳市深粮控股股份有限公司2021年年度报告全文
ntee
(if
any)
Guarantee for the subsidiaries
Count
Name of Related er Comple Guaran
Actual
the Announc Actual Collateral guara te tee for Guarante date of Guarante Guarant
Company ement guarantee implem related
e limit happenin e type (if any) ntee ee term guarantee disclosur limit entation party
g
d e date (if or not (Y/N)
any)
Donggua
n
Internatio
nal Food Joint
2018-07-14
Industrial 37632 30119 liability N/A N/A N N
27 years
Park guaranty
Develop
ment Co.Ltd.Donggua
n
Shenliang Joint
2019-04-
Oil & 11417 4220 liability N/A N/A 8 years N N
19
Food guaranty
Trade
Co. Ltd.Total amount of Total amount of actual
approving guarantee occurred guarantee for
11510034339
for subsidiaries in subsidiaries in report
report period (B1) period (B2)
Total amount of Total balance of actual
approved guarantee guarantee for
for subsidiaries at the 115100 subsidiaries at the end 34339
end of reporting of reporting period
period (B3) (B4)
Guarantee of the subsidiaries for the subsidiaries
Count
Name of Related er Comple Guaran
Actual
the Announc Actual te tee for
Guarante date of Guarante Collateral guara Guarant
Company ement guarantee implem related
e limit happenin e type ee term
guarantee disclosur limit (if any) ntee entation party
g
d e date (if or not (Y/N)
any)
95深圳市深粮控股股份有限公司2021年年度报告全文
Donggua
n Joint
2015-07-
Shenliang 27300 9921 liability N/A N/A 8 years N N
13
Logistics guaranty
Co. Ltd.Donggua
n
Internatio
nal Food Joint
2018-07-14
Industrial 39168 31348 liability N/A N/A N N
27 years
Park guaranty
Develop
ment Co.Ltd.Donggua
n Joint
2020-10-14
Shenliang 21930 1935 liability N/A N/A N N
20 years
Logistics guaranty
Co. Ltd.Donggua
n
Shenliang Joint
2019-04-
Oil & 11883 4393 liability N/A N/A 8 years N N
19
Food guaranty
Trade
Co. Ltd.Total amount of Total amount of actual
approving guarantee occurred guarantee for
52700792
for subsidiaries in subsidiaries in report
report period (C1) period (C2)
Total amount of Total balance of actual
approved guarantee guarantee for
for subsidiaries at the 152981 subsidiaries at the end 47597
end of reporting of reporting period
period (C3) (C4)
Total amount of guarantee of the Company (total of three above mentioned guarantee)
Total amount of actual
Total amount of approving
occurred guarantee in
guarantee in report period 167800 35131
report period
(A1+B1+C1)
(A2+B2+C3)
Total balance of actual
Total amount of approved
guarantee at the end of
guarantee at the end of report 268081 81936
report period
period (A3+B3+C2)
(A4+B4+C4)
The proportion of the total amount of actually
guarantee in the net assets of the Company (that 17.70%
is A4+ B4+C4)
Including:
96深圳市深粮控股股份有限公司2021年年度报告全文
Balance of the guarantee provided for
shareholder actual controller and their related 0
parties (D)
The debts guarantee amount provided for the
guaranteed parties whose assets-liability ratio 81936
exceed 70% directly or indirectly (E)
Total amount of the aforesaid three guarantees
81936
(D+E+F)
Explanations on possibly bearing joint and
several liquidating responsibilities for undue N/A
guarantees (if applicable)
Explanations on external guarantee against
N/A
regulated procedures (if applicable)
Explanation on guarantee with composite way
Nil
3. Cash asset management
(1) Trust financing
√ Applicable □Not applicable
Trust financing in the period
Unit: 10 thousand Yuan
Impairment
amount accrual
Type Fund sources Amount occurred Undue balance Overdue amount for overdue
financial
management
Bank financial
Owned fund 29000 22000 0 0
products
Total 29000 22000 0 0
Entrust financial expected to be unable to recover the principal or impairment might be occurred
□ Applicable √Not applicable
Unrecoverable principal or impairment possibility from entrust investment
□ Applicable √Not applicable
(2) Entrusted loans
□ Applicable √Not applicable
No entrusted loans in the Period
97深圳市深粮控股股份有限公司2021年年度报告全文
4. Other material contracts
□ Applicable √ Not applicable
No other material contracts in the period.XVI. Explanation on other significant events
√Applicable □ Not applicable
1. Personnel changes in BOD BOS and senior managements
On July 16 2021 the company received a written resignation from Ms. Jin Zhenyuan a director and the Chief
Financial Officer of the company. Due to job transfer Ms. Jin Zhenyuan applied to resign from her position as
th
director and chief financial officer of the company. On the same day the company held the 16 meeting of the
tenth board of directors deliberated and approved the Proposal on the Appointment of the Company's Chief
Financial Officer and the Proposal on the Addition of the Company's Directors and agreed to appoint Ms. Lu
Yuhe as the company's chief financial officer for a term from the date of the approval of the board of directors to
the expiration of the tenth board of directors; agreed to add Ms. Lu Yuhe as a director of the tenth board of
directors of the company and submit it to the shareholders' meeting for approval. For details see the
th th
Announcement of Resolutions of the 16 session of the 10 Board of Directors of the Company and the
Announcement of Resignation of Directors and Chief Financial Officer of the Company and Appointment of
Chief Financial Officer of the Company and the Addition of Directors of the Company published at
www.cninfo.com.cn on July 17 2021.The company held the first extraordinary shareholders' meeting of 2021 on August 2 2021 which deliberated and
approved the Proposal on the Addition of Directors of the Company and agreed to add Ms. Lu Yuhe as a director
of the tenth board of directors of the company. The term of office shall be from the date of approval of the
resolution at the shareholders' meeting of the company to the date of expiration of the tenth board of directors of
the company. For details see the Announcement of the Resolutions of the Company's First Extraordinary General
Meeting of Shareholders in 2021 published at www.cninfo.com.cn on August 3 2021.XVII. Significant event of subsidiary of the Company
√Applicable □ Not applicable
th th
1. The company held the 15 session of the 10 board of directors on June 1 2021 which deliberated and
approved the Proposal on the Company's Acquisition of 49% Equity of Dongguan Shenliang Logistics Co. Ltd.and agreed that the company acquires the 49% equity of Dongguan Shenliang Logistics Co. Ltd. held by
Dongguan Fruits and Vegetables and Non-staple Food Trading Market Co. Ltd. in cash the purchase price was
th th
321.68 million yuan. For details see the "Announcement of Resolutions of the 15 session of the 10 Board of
Directors of the Company" and the "Announcement of the Company on the Acquisition of 49% Equity of
Dongguan Shenliang Logistics Co. Ltd." published at www.cninfo.com.cn on June 2 2021.
98深圳市深粮控股股份有限公司2021年年度报告全文
th th
2. The company held the 16 session of the 10 board of directors on July 16 2021 and the first extraordinary
shareholders’ meeting on August 2 2021 which deliberated and approved the "Proposal on the Consolidation and
Merger of Shenzhen Shenbao Technology Center Co. Ltd. agreed to the company’s consolidation and merger of
the wholly-owned subsidiary of Shenzhen Shenbao Technology Center Co. Ltd. For details please see the
th th
Announcement of Resolutions of the 16 session of the 10 Board of Directors of the Company and the
Announcement of the Company’s Consolidation and Merger of Shenzhen Shenbao Technology Center Co. Ltd.published at www.cninfo.com.cn on July 17 2021 and the Announcement of Resolutions of the Company’s First
Extraordinary Shareholders’ Meeting in 2021 published at www.cninfo.com.cn on August 3 2021. On January 19
2022 the implementation of absorption and merger of Shenzhen Shenbao Technology Center Co. ltd through its
wholly-owned subsidiary Shenzhen Shenbao Huacheng Technology Co. Ltd was completed and the Shenzhen
Shenbao Technology Center Co. ltd completed the cancellation of business registration.
3. On July 22 2021 the company acquired 51% of the equity of Wuhan Jiacheng biotechnology Co.Ltd in cash
with the purchase price of 21675000 yuan. After the completion of the acquisition the Company held a total of
51% of the equity of Wuhan Jiasheng biotechnology Co. Ltd.
99深圳市深粮控股股份有限公司2021年年度报告全文
Section VII. Changes in Shares and Particulars about Shareholders
I. Changes in Shares
1. Changes in shares
Unit: Share
Increase/Decrease in the Change (+
Before the Change After the Change
-)
Capita
New
Bo lizatio
share Sub
Proportio nus n of Oth Proportio
A mount s tota A mount
n sha public ers n
issue l
res reserv
d
e
I. Restricted shares 684601142 59.40% 0 0 0 0 0 684601142 59.40%
1. State-owned shares 0 0.00% 0 0 0 0 0 0 0.00%
2. State-owned corporate
68456956759.40%0000068456956759.40%
shares
3. Other domestic shares 31575 0.00% 0 0 0 0 0 31575 0.00%
Including: Domestic legal
00.00%0000000.00%
person’s shares
Domestic nature
315750.00%00000315750.00%
person’s shares
4. Foreign shares 0 0.00% 0 0 0 0 0 0 0.00%
Including: Foreign
00.00%0000000.00%
corporate shares
overseas nature
00.00%0000000.00%
person’s share
II. Un-restricted shares 467934112 40.60% 0 0 0 0 0 467934112 40.60%
1. RMB common shares 416184832 36.11% 0 0 0 0 0 416184832 36.11%
2. Domestically listed
517492804.49%00000517492804.49%
foreign shares
3. Foreign listed foreign
00.00%0000000.00%
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 share changed
□ Applicable √ Not applicable
Approval of share changed
□ Applicable √ Not applicable
Ownership transfer of share changed
100深圳市深粮控股股份有限公司2021年年度报告全文
□ Applicable √ Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common
shareholders of Company in latest year and period
□ Applicable √ Not applicable
Other information necessary to disclose or need to disclosed under requirement from security regulators
□ Applicable √ Not applicable
2. Changes of restricted shares
□ Applicable √Not applicable
II. Securities issuance and listing
1. Security offering (without preferred stock) in the report period
□ Applicable √Not applicable
2. Changes of total shares and shareholders structure as well as explanation on changes of assets and
liability structure
□ Applicable √Not applicable
3. Existing internal staff shares
□ Applicable √Not applicable
III. Particulars about shareholder and actual controller of the Company
1. Number of shareholders and particulars about shares holding
Unit: Share
Total
Total preference
common Total preference shareholders
Total stock shareholders with voting
common shareholder with voting rights
stock s at end of rights recovered recovered at
517246392400
shareholders last month at end of end of last
in reporting before reporting period month before
period-end annual (if applicable) annual report
report (found in note8) disclosed (if
disclosed applicable)
(found in
101深圳市深粮控股股份有限公司2021年年度报告全文
note8)
Particulars about shares held above 5% by shareholders or top ten shareholders
Information of
Total shares
Proport shares pledged
hold at the Changes in Amount of Amount of
Full name of Nature of ion of tagged or frozen
end of report restricted un-restricted
Shareholders shareholder shares State
report period shares held shares held Amou
held of
period nt
share
Shenzhen Food
State-owned
Materials Group 63.79% 735237253 0 669184735 66052518
legal person
Co. Ltd
Shenzhen
Agricultural State-owned
8.23%9483229401538483279447462
Products Group legal person
Co. Ltd
Domestic
Hu Ying nature 0.61% 7000000 7000000 0 7000000
person
Domestic
Lin Junbo nature 0.31% 3600000 33300 0 3600000
person
Domestic
Zhong Zhenxin nature 0.29% 3295500 3295500 0 3295500
person
Domestic
Sun Huiming nature 0.28% 3250062 -186400 0 3250062
person
Domestic
Jiang Zongyu nature 0.28% 3198200 3198200 0 3198200
person
Domestic
Chen Jiuyang nature 0.25% 2856700 112000 0 2856700
person
Hong Kong
Securities
Foreign
Clearing 0.23% 2662587 -4341499 0 2662587
legal person
Company
Limited
Domestic
Xu Wenxing 0.15% 1703295 -347085 0 1703295
nature
102深圳市深粮控股股份有限公司2021年年度报告全文
person
Strategy investors or general
corporation comes top 10
common shareholders due to N/A
rights issue (if applicable) (see
note 3)
Shenzhen SASAC directly holds 100% equity of Shenzhen Food Materials Group Co. Ltd.Explanation on associated and holds 34% of Shenzhen Agricultural Products Group Co. Ltd. indirectly through
relationship among the aforesaid Shenzhen Food Materials Group Co. Ltd.; the Company was not aware of any related
shareholders relationship between other shareholders above and whether they belonged to parties acting
in concert as defined by the Acquisition Management Method of Listed Company.Description of the above
shareholders in relation to
delegate/entrusted voting rights N/A
and abstention from voting
rights.Special note on the repurchase
account among the top 10
N/A
shareholders (if applicable) (see
note 10)
Particular about top ten shareholders with un-restrict shares held
Amount of un-restrict shares held at Type of shares
Shareholders’ name
Period-end Type Amount
Shenzhen Agricultural Products Group Co. RMB common
7944746279447462
Ltd shares
RMB common
Shenzhen Food Materials Group Co. Ltd 66052518 66052518
shares
RMB common
Hu Ying 7000000 7000000
shares
RMB common
Lin Junbo 3600000 3600000
shares
RMB common
Zhong Zhenxin 3295500 3295500
shares
Domestically listed
Sun Huiming 3250062 3250062
foreign shares
RMB common
Jiang Zongyu 3198200 3198200
shares
RMB common
Chen Jiuyang 2856700 2856700
shares
103深圳市深粮控股股份有限公司2021年年度报告全文
Hong Kong Securities Clearing Company RMB common
26625872662587
Limited shares
RMB common
Xu Wenxing 1703295 1703295
shares
Expiation on associated
Shenzhen SASAC directly holds 100% equity of Shenzhen Food Materials Group Co. Ltd.relationship or consistent actors
and holds 34% of Shenzhen Agricultural Products Group Co. Ltd. indirectly through
within the top 10 un-restrict
Shenzhen Food Materials Group Co. Ltd.; the Company was not aware of any related
shareholders and between top 10
relationship between other shareholders above and whether they belonged to parties acting
un-restrict shareholders and top
in concert as defined by the Acquisition Management Method of Listed Company.
10 shareholders
At the end of reporting period Shareholder – Lin Junbo holds 3600000 shares of the
Explanation on top 10 Company under customer credit trading secured securities account through China Merchants
shareholders involving margin Securities Co. Ltd. common account holds 0 shares and 3600000 shares are held in total
business (if applicable) (see note at end of the Period. During the reporting period the credit trading secured securities
4) account has 3600000 shares increased and shares held in the common account has
3566700 shares decreased shares held are increased 33300 shares in total.
Whether top ten common stock shareholders or top ten common stock shareholders with un-restrict shares held have a buy-back
agreement dealing in reporting period
□ Yes √ No
The top ten common stock shareholders or top ten common stock shareholders with un-restrict shares held of the Company have no
buy-back agreement dealing in reporting period.
2. Controlling shareholder of the Company
Nature of controlling shareholders: local state-owned holding
Type of controlling shareholders: legal person
Legal
person/pe
Controlling
rson in Date of foundation Organization code Main operation business
shareholders
charge of
the unit
The general business projects are: food
safety infrastructure construction
(including the upgrading of the
farmers ’market the upgrading of
public places canteens the
Shenzhen Food
He 91440300MA5EWWPXX construction of community cooked
Materials Group 2017-12-14
Jianfeng 2 food centers and the construction of
Co. Ltd
agricultural product bases); safe food
circulation and terminal sales; the
establishment of food distribution
channel platforms; Food industry
investment and operation (Including
104深圳市深粮控股股份有限公司2021年年度报告全文
the M & A investment of the core
resources of the food industry chain
and the cultivation of enterprises in the
future direction); Domestic trade
(excluding franchised monopolized
and exclusively controlled
commodities); engaging in import and
export business (except for items
prohibited by laws administrative
regulations and the State Council
restricted items can only be operated
after obtaining permission); online
business activities (excluding restricted
items). Licensed business items are
food sales and supply business;
emergency material production and
operation; production purchase and
sale of I II and III medical devices;
pharmaceutical wholesale; ordinary
freight professional transportation
warehousing and logistics.Equity of other
domestic/oversea
listed Company
control by In addition to holding 63.79% equity of the company Food Materials Group holds 34% equity of
controlling Agricultural Products.shareholder as well
as stock-joint in
report period
Changes of controlling shareholders in reporting period
□ Applicable √Not applicable
The controlling shareholder of the company has not changed during the reporting period.
3. Actual controller and persons acting in concert
Nature of actual controller: local state-owned assets management
Type of actual controller: legal person
Legal
person/person Main operation
Actual controller Date of foundation Organization code
in charge of the business
unit
Shenzhen Municipal People’s State-owned assets
Wang Yongjian 2004-04-02 11440300K317280672
Government State-owned supervision and
105深圳市深粮控股股份有限公司2021年年度报告全文
Assets Supervision & management
Administration Commission
Equity of other
domestic/foreign listed
-
Company controlled by actual
controller in reporting period
Changes of actual controller in reporting period
□ Applicable √Not applicable
No changes of actual controllers for the Company in reporting period.Property right and controlling relationship between the actual controller and the Company is as follow
Actual controller controlling the Company by entrust or other assets management
□ Applicable √Not applicable
4. The total number of shares pledged by controlling shareholders or the first majority shareholder and its
persons acting in concert accounts for 80% of the shares held by them
□ Applicable √Not applicable
5. Particulars about other legal person shareholders with over 10% shares held
□ Applicable √Not applicable
106深圳市深粮控股股份有限公司2021年年度报告全文
6. Limitation and reducing the holdings of shares of controlling shareholders actual controllers
restructuring side and other commitment subjects
□ Applicable √Not applicable
IV. The specific implementation of shares buy-back during the reporting period
Implementation progress of shares buy-back
□ Applicable √ Not applicable
Implementation progress of the reduction of repurchases shares by centralized bidding
□ Applicable √ Not applicable
107深圳市深粮控股股份有限公司2021年年度报告全文
Section VIII. Preferred Stock
□ Applicable √ Not applicable
The Company had no preferred stock in the Period.
108深圳市深粮控股股份有限公司2021年年度报告全文
Section IX. Corporate Bonds
□ Applicable √Not applicable
109深圳市深粮控股股份有限公司2021年年度报告全文
Section X. Financial Report
I. Audit Report
Type of audit opinion Standard unqualified opinion
Signing date of audit report 2022-04-24
Name of audit institute BDO China Shu Lun Pan Certified Public Accountant LLP
Document serial of audit report BDO CPAs Zi[2022]No. ZL10167
Name of the CPA Qi Tao Tao Guoheng
Text of auditing report
Auditor’s Report
BDO CPAs Zi[2022]No.10167
To all shareholders of SHENZHEN CEREALS HOLDINGS CO. LTD.:
1. Auditing opinions
We have audited the financial statement under the name of SHENZHEN CEREALS HOLDINGS CO. LTD.(hereinafter referred to as SZCH Company) including the consolidated and parent Company’s balance sheet of 31
December 2021 and profit statement and cash flow statement and statement on changes of shareholders’ equity
for the year ended and notes to the financial statements for the year ended.In our opinion the Company’s financial statements have been prepared in accordance with the Accounting
Standards for Business Enterprises and they fairly present the financial status of the Company and of its parent
company as of 31 December 2021 and its operation results and cash flows for the year ended.
2. Basis of opinion
We conducted our audit in accordance with the Auditing Standards for Certified Public Accountants of China. Ourresponsibilities under those standards are further described in the “Auditor’s Responsibilities for the Audit of theFinancial Statements” section of the auditor’s report. We are independent of the Company in accordance with the
Certified Public Accountants of China’s Code of Ethics for Professional Accountants and we have fulfilled our
other ethical responsibilities in accordance with the Code. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
3. Key audit matters
Key audit matters are those matters that in our professional judgment were of most significance in our audit of
the financial statements of the current period. These matters were addressed in the context of our audit of the
110深圳市深粮控股股份有限公司2021年年度报告全文
financial statements as a whole and in forming our opinion thereon and we do not provide a separate opinion on
this matter.The key audit matters identified in our audit are summarized as follows:
Key audit matters How to deal with the matter in audit
(i) Revenue recognition
The main audit procedures we implemented for the
inventory and inventory falling price reserves include:
(1) Understood evaluated and tested the internal control
design and implementation related to revenue
recognition of SZCH Company;
(2) Check the main sales contracts identify terms
Details and analysis of accounting policy of revenue
related to transfer of the main risks and rewards on the
recognition found more in the (39) in Note V and (61) in
ownership of goods and evaluate whether the revenue
VII of consolidated financial statements.recognition policy conforms to the Accounting
SZCH operating revenue for 2021 is 10139563710.11 Standards for Business Enterprise;
yuan including: the grain and oil trading and processing (3) Carry out substantive analysis procedures for
business is 8898880048.64 yuan accounting for operating revenue and gross profit rate by month
87.76% of the operating revenue. The grain and oil products etc. identify whether there is significant or
abnormal fluctuation and review the rationality of
trading and processing business has a significant impact
revenue;
on the financial statement and it is one of the key index
(4) We use sampling method to check the supporting
of performance of SZCH which has a special risks in documents related to revenue recognition including
manipulation for achieving the predicted target sales contract sales invoice delivery order goods right
therefore the identify of operating income will be listed transfer document and accounting voucher etc.;
as the key auditing event. (5) In combination with the L/C receivable confirm the
sales volume of the current period to the main
customers by sampling;
(6) Carry out a cut-off test on the business income
recognized before and after the balance sheet date to
assess whether the business income is recognized in the
appropriate accounting period.(ii) Inventory and inventory falling price reserves
Details of inventory and inventory impairment found The main audit procedures we implemented for the
more in the (15) in Note V and (9) of consolidated inventory and inventory falling price reserves of SZCH
financial statements. Company include:
(1) Understood evaluated and tested the internal control
As of December 31 2021 the inventory book balance
design and implementation related to inventory falling
presented on the consolidated financial statements of
price reserves of SZCH Company;
SZCH Company was 3580.1586 million yuan and the
(2) We performed the inventory monitoring procedures
amount of inventory falling price reserves was 119.5399 for inventory and checked the quantity and condition;
million yuan book value of inventories was 3460.6187 (3) Acquired the calculation table of inventory falling
million yuan accounting for 45.12% of the total assets. price reserve implemented the inventory impairment
test procedure and analyzed whether provision for
111深圳市深粮控股股份有限公司2021年年度报告全文
Inventory is measured at the lower one between the cost inventory falling price reserves was sufficient;
and the net realizable value due to the large amount of (4) We obtained the year-end inventory age list
money of inventory the SZCH management (Hereinafter conducted an analytical review of the inventory with
long inventory age combine with the condition of
referred to as "management") needed to make significant
products and analyzed whether inventory falling price
judgments when determining the decrease in value of
reserves was sufficient;
inventory including the consideration of government
(5) For the products that can obtain the selling price in
reserve as grain & oil food and vegetable oil included open market select samples independently query the
that affected by futures market these important public market price information and compare it with the
judgments have a significant impact on the valuation of estimated selling price.。
inventory and provision for inventory depreciation at
period-end; therefore we determined the inventory and
inventory falling price reserves as key audit matters.
4. Other information
The management of SZCH Company (hereinafter referred to as the management) is responsible for other
information which includes the information covered in the Company’s 2021 annual report excluding the financial
statement and our audit report.The audit opinion issued by us for the financial statement has not covered other information for which we do not
issue any form of assurance opinions.Considering our audit on financial statements we are liable to read other information during which we shall
consider whether other information differs materially from the financial statements or that we understand during
our audit or whether there is any material misstatement.Based on the works executed by us we should report the fact if we find any material misstatement in other
information. In this regards we have nothing to report.
5. Responsibilities of management and those charged with governance for the financial statements
The management of SZCH Company is responsible for the preparation of the financial statements in accordance
with the Accounting Standards for Enterprise to secure a fair presentation and for the design establishment and
maintenance of the internal control necessary to enable the preparation of financial statements that are free from
material misstatement whether due to fraud or error.In preparing the financial statements the management is responsible for assessing the Company’s ability to
continue as a going concern (if applicable) disclosing matters related to going concern and using the going
concern assumption unless the management either intends to liquidate the Company or to cease operations or has
no realistic alternative but to do so.
112深圳市深粮控股股份有限公司2021年年度报告全文
Those charged with governance are responsible for overseeing the Company’s financial reporting process.
6. Responsibilities of the auditor for the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement whether due to fraud or error and to issue an audit report that includes our audit opinion.Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
with the CAS will always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if individually or in the aggregate they could reasonably be expected to
influence the economic decisions of users taken on the basis of the financial statements.As part of an audit in accordance with the CAS we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:
(i) Identify and assess the risks of material misstatement of the financial statements whether due to fraud or error
design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and
appropriate to provide a basis for audit opinion. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error as fraud may involve collusion forgery intentional omissions
misrepresentations or the override of internal control.(ii) Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances
(iii) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by the management.(iv) Conclude on the appropriateness of the management’s use of the going concern assumption and based on the
audit evidence obtained whether a material uncertainty exists related to events or conditions that may cast
significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material
uncertainty exists we are required by the CAS to draw users’ attention in audit report to the related disclosures in
the financial statements or if such disclosures are inadequate to modify audit opinion. Our conclusions are based
on the information obtained up to the date of audit report. However future events or conditions may cause the
Company to cease to continue as a going concern.(v) Evaluate the overall presentation including the disclosures structure and content of the financial statements
and whether the financial statements represent the underlying transactions and events in a manner that achieves
fair presentation.(vi) Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business
activities within the Company to express audit opinion on the financial statements. We are responsible for the
113深圳市深粮控股股份有限公司2021年年度报告全文
direction supervision and performance of the group audit. We remain solely responsible for audit opinion.We communicate with those charged with governance regarding among other matters the planned scope and
timing of the audit and significant audit findings including any significant deficiencies in internal control that we
identify during our audit.We also provide those charged with governance with a statement that we have complied with relevant ethical
requirements regarding independence and communicate with them all relationships and other matters that may
reasonably be thought to bear on our independence and relevant countermeasures (if applicable).From the matters communicated with those charged with governance we determine those matters that were of
most significance in the audit of the financial statements of the current period and are therefore the key audit
matters. We describe these matters in the auditor’s report unless law or regulation precludes public disclosure
about the matter or when in extremely rare circumstances we determine that a matter should not be
communicated in the auditor’s report because of the adverse consequences of doing so would reasonably be
expected to outweigh the public interest benefits of such communication.BDO China Shu Lun Pan CPAs Chinese CPA：Qi Tao
(LLP) (Engagement partner)
Chinese CPA: Tao Guoheng
Shanghai· China 24 April 2022
II. Financial Statement
Statement in Financial Notes are carried in RMB/CNY
1. Consolidated Balance Sheet
Prepared by SHENZHEN CEREALS HOLDINGS CO. LTD.Unit: RMB/CNY
Item December 31 2021 December 31 2020
Current assets:
114深圳市深粮控股股份有限公司2021年年度报告全文
Monetary funds 50409923.65 190494225.94
Settlement provisions
Capital lent
Trading financial assets 211060770.50 160621806.51
Derivative financial assets
Note receivable 687242.00 2213426.00
Account receivable 283047341.62 198311102.17
Receivable financing
Accounts paid in advance 115894774.61 27136263.84
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Other account receivable 32377838.35 22631043.66
Including: Interest receivable
Dividend receivable
Buying back the sale of financial
assets
Inventories 3460618674.81 3418328974.27
Contract assets
Assets held for sale
Non-current asset due within one
year
Other current assets 88457984.90 119750603.31
Total current assets 4242554550.44 4139487445.70
Non-current assets:
Loans and payments on behalf
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment 73490443.49 73215147.84
Investment in other equity
instrument
Other non-current financial
57500.0057500.00
assets
115深圳市深粮控股股份有限公司2021年年度报告全文
Investment real estate 233096698.49 253037899.57
Fixed assets 2127831149.19 1122692490.55
Construction in progress 207946539.97 1045643295.57
Productive biological asset 378001.80 387694.20
Oil and gas asset
Right-of-use assets 97648674.06
Intangible assets 609405194.82 599306223.04
Expense on Research and
Development
Goodwill 1953790.56
Long-term expenses to be
28795206.4531732325.01
apportioned
Deferred income tax asset 40529425.47 41347952.12
Other non-current asset 5931731.58 2476174.33
Total non-current asset 3427064355.88 3169896702.23
Total assets 7669618906.32 7309384147.93
Current liabilities:
Short-term loans 504766782.25 110318727.12
Loan from central bank
Capital borrowed
Trading financial liability
Derivative financial liability
Note payable
Account payable 426906669.71 480896517.64
Accounts received in advance 2379891.67 3376262.66
Contract liability 182972314.85 108975866.82
Selling financial asset of
repurchase
Absorbing deposit and interbank
deposit
Security trading of agency
Security sales of agency
Wage payable 320706055.47 260514559.66
Taxes payable 86813588.15 66904735.29
Other account payable 376607198.99 397325719.50
116深圳市深粮控股股份有限公司2021年年度报告全文
Including: Interest payable
Dividend payable 2933690.04 2933690.04
Commission charge and
commission payable
Reinsurance payable
Liability held for sale
Non-current liabilities due
128732475.16104225183.07
within one year
Other current liabilities 4367576.91 7250420.68
Total current liabilities 2034252553.16 1539787992.44
Non-current liabilities:
Insurance contract reserve
Long-term loans 730521692.22 841864531.75
Bonds payable
Including: Preferred stock
Perpetual capital
securities
Lease liability 80173743.75
Long-term account payable 17266921.98 16126146.20
Long-term wages payable
Accrual liability 3500000.00 3500000.00
Deferred income 93129536.68 100710038.32
Deferred income tax liabilities 13868191.82 12150035.13
Other non-current liabilities
Total non-current liabilities 938460086.45 974350751.40
Total liabilities 2972712639.61 2514138743.84
Owner’s equity:
Share capital 1152535254.00 1152535254.00
Other equity instrument
Including: Preferred stock
Perpetual capital
securities
Capital public reserve 1259639656.65 1422892729.36
Less: Inventory shares
Other comprehensive income
117深圳市深粮控股股份有限公司2021年年度报告全文
Reasonable reserve
Surplus public reserve 405575490.42 382367575.37
Provision of general risk
Retained profit 1812541701.27 1637536441.03
Total owner’ s equity attributable to
4630292102.344595331999.76
parent company
Minority interests 66614164.37 199913404.33
Total owner’ s equity 4696906266.71 4795245404.09
Total liabilities and owner’ s equity 7669618906.32 7309384147.93
Legal Representative: Zhu Junming
Person in charge of accounting works: Lu Yuhe
Person in charge of accounting institute: Wen Jieyu
2. Balance Sheet of Parent Company
Unit: RMB/CNY
Item December 31 2021 December 31 2020
Current assets:
Monetary funds 2264388.89 5312806.71
Trading financial assets 181047789.68 621806.51
Derivative financial assets
Note receivable
Account receivable 135678426.30 4087681.18
Receivable financing
Accounts paid in advance
Other account receivable 983939717.84 892105968.23
Including: Interest receivable
Dividend
540000000.00390000000.00
receivable
Inventories
Contract assets
Assets held for sale
Non-current assets maturing
within one year
118深圳市深粮控股股份有限公司2021年年度报告全文
Other current assets 1083482.32 1497597.50
Total current assets 1304013805.03 903625860.13
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term equity investments 4048519425.09 3707714425.09
Investment in other equity
instrument
Other non-current financial
assets
Investment real estate 16514913.76 16986504.04
Fixed assets 32097138.18 33125275.65
Construction in progress 239282.75
Productive biological assets 378001.80 387694.20
Oil and natural gas assets
Right-of-use assets
Intangible assets 19338264.04 12842693.98
Research and development costs
Goodwill
Long-term deferred expenses 1538731.98 1040708.20
Deferred income tax assets
Other non-current assets 4602630.58
Total non-current assets 4123228388.18 3772097301.16
Total assets 5427242193.21 4675723161.29
Current liabilities:
Short-term borrowings 28175026.24
Trading financial liability
Derivative financial liability
Notes payable
Account payable
Accounts received in advance
Contract liability 411.00
Wage payable 29472163.62 26535794.31
Taxes payable 2801612.80 2736075.65
119深圳市深粮控股股份有限公司2021年年度报告全文
Other accounts payable 764330925.37 45560514.82
Including: Interest payable
Dividend payable 2933690.04 2933690.04
Liability held for sale
Non-current liabilities due
within one year
Other current liabilities
Total current liabilities 824779728.03 74832795.78
Non-current liabilities:
Long-term loans
Bonds payable
Including: Preferred stock
Perpetual capital
securities
Lease liability
Long-term account payable
Long term employee
compensation payable
Accrued liabilities 3500000.00 3500000.00
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 3500000.00 3500000.00
Total liabilities 828279728.03 78332795.78
Owners’ equity:
Share capital 1152535254.00 1152535254.00
Other equity instrument
Including: Preferred stock
Perpetual capital
securities
Capital public reserve 3018106568.27 3018106568.27
Less: Inventory shares
Other comprehensive income
Special reserve
Surplus reserve 133171062.28 109963147.23
120深圳市深粮控股股份有限公司2021年年度报告全文
Retained profit 295149580.63 316785396.01
Total owner’s equity 4598962465.18 4597390365.51
Total liabilities and owner’s equity 5427242193.21 4675723161.29
3. Consolidated Profit Statement
Unit: RMB/CNY
Item 2021 2020
I. Total operating income 10139563710.11 11884527506.34
Including: Operating income 10139563710.11 11884527506.34
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 9504004530.36 11255304140.15
Including: Operating cost 8859285309.43 10725012933.34
Interest expense
Commission charge and
commission expense
Cash surrender value
Net amount of expense of
compensation
Net amount of withdrawal
of insurance contract reserve
Bonus expense of
guarantee slip
Reinsurance expense
Tax and extras 16709081.11 12377202.41
Sales expense 250216473.67 201304842.30
Administrative expense 300735585.34 285083453.91
R&D expense 20689494.13 16617944.25
Financial expense 56368586.68 14907763.94
Including: Interest
57185980.7016958179.81
expenses
Interest
2369604.373529030.44
income
Add: Other income 15739392.31 18615426.79
121深圳市深粮控股股份有限公司2021年年度报告全文
Investment income (Loss is
4289604.5017401645.38
listed with “-”)
Including: Investment
income on affiliated company and joint 275295.65 2065265.42
venture
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
299292.76-544403.21
value (Loss is listed with “-”)
Loss of credit impairment
2154887.551012688.03
(Loss is listed with “-”)
Losses of devaluation of
-184486526.84-210190362.81
asset (Loss is listed with “-”)
Income from assets disposal
29437150.82-47312.84
(Loss is listed with “-”)
III. Operating profit (Loss is listed with 502992980.85 455471047.53
“-”)
Add: Non-operating income 14640665.53 3925937.84
Less: Non-operating expense 1505363.93 1554552.82
IV. Total profit (Loss is listed with “-”) 516128282.45 457842432.55
Less: Income tax expense 79817640.62 54070586.10
V. Net profit (Net loss is listed with
436310641.83403771846.45
“-”)
(i) Classify by business continuity
1.continuous operating net profit
436310641.83403771846.45(net loss listed with ‘-”)
2.termination of net profit (netloss listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to
428720226.09405088385.54
owner’s of parent company
2.Minority shareholders’ gains
7590415.74-1316539.09
and losses
122深圳市深粮控股股份有限公司2021年年度报告全文
VI. Net after-tax of other
comprehensive income
Net after-tax of other comprehensive
income attributable to owners of parent
company
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that
cannot be transfer to gain/loss
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
subsequently to profit or loss
1.Other comprehensive
income under equity method that can
transfer to gain/loss
2.Change of fair value of
other debt investment
3.Amount of financial
assets re-classify to other
comprehensive income
4.Credit impairment
provision for other debt investment
5.Cash flow hedging
reserve
6.Translation differences
arising on translation of foreign
currency financial statements
7.Other
Net after-tax of other comprehensive
income attributable to minority
123深圳市深粮控股股份有限公司2021年年度报告全文
shareholders
VII. Total comprehensive income 436310641.83 403771846.45
Total comprehensive income
attributable to owners of parent 428720226.09 405088385.54
Company
Total comprehensive income
7590415.74-1316539.09
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.3720 0.3515
(ii) Diluted earnings per share 0.3720 0.3515
As for the enterprise combined under the same control net profit of 0 Yuan achieved by the merged party before combination while 0
Yuan achieved last period.Legal Representative: Zhu Junming
Person in charge of accounting works: Lu Yuhe
Person in charge of accounting institute: Wen Jieyu
4. Profit Statement of Parent Company
Unit: RMB/CNY
Item 2021 2020
I. Operating income 152755423.01 6787646.23
Less: Operating cost 471590.28 3407360.30
Taxes and surcharge 683515.34 342277.58
Sales expenses 1557.53
Administration expenses 67332547.72 69040444.78
R&D expenses
Financial expenses 3532095.48 -299837.13
Including: Interest
4179277.98
expenses
Interest
702381.08363508.65
income
Add: Other income 194374.00 1153678.06
Investment income (Loss is
151392969.32393154397.74
listed with “-”)
Including: Investment
income on affiliated Company and
124深圳市深粮控股股份有限公司2021年年度报告全文
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
299292.76-544403.21
value (Loss is listed with “-”)
Loss of credit impairment
-393159.80-468842.76
(Loss is listed with “-”)
Losses of devaluation of
-5500000.00
asset (Loss is listed with “-”)
Income on disposal of
-27216.57
assets (Loss is listed with “-”)
II. Operating profit (Loss is listed
232229150.47322063456.43
with “-”)
Add: Non-operating income 417499.86
Less: Non-operating expense 150000.00 681213.11
III. Total Profit (Loss is listed with
232079150.47321799743.18
“-”)
Less: Income tax
IV. Net profit (Net loss is listed with
232079150.47321799743.18
“-”)
(i) continuous operating net
232079150.47321799743.18profit (net loss listed with ‘-”)
(ii) termination of net profit (netloss listed with ‘-”)
V. Net after-tax of other
comprehensive income
(i) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that
cannot be transfer to gain/loss
3.Change of fair value of
125深圳市深粮控股股份有限公司2021年年度报告全文
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
subsequently to profit or loss
1.Other comprehensive
income under equity method that can
transfer to gain/loss
2.Change of fair value of
other debt investment
3.Amount of financial
assets re-classify to other
comprehensive income
4.Credit impairment
provision for other debt investment
5.Cash flow hedging
reserve
6.Translation differences
arising on translation of foreign
currency financial statements
7.Other
VI. Total comprehensive income 232079150.47 321799743.18
VII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
5. Consolidated Cash Flow Statement
Unit: RMB/CNY
Item 2021 2020
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 10872515643.46 11286443589.59
services
Net increase of customer deposit
and interbank deposit
126深圳市深粮控股股份有限公司2021年年度报告全文
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
commission charge 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 45244428.95 21596382.78
Other cash received concerning
479459925.25361167179.98
operating activities
Subtotal of cash inflow arising from
11397219997.6611669207152.35
operating activities
Cash paid for purchasing
commodities and receiving labor 9852107611.52 10694549697.89
service
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
commission charge and commission
Cash paid for bonus of guarantee
slip
Cash paid to/for staff and
300172388.98260761173.53
workers
127深圳市深粮控股股份有限公司2021年年度报告全文
Taxes paid 169922331.66 75567816.93
Other cash paid concerning
634621635.96351800241.73
operating activities
Subtotal of cash outflow arising from
10956823968.1211382678930.08
operating activities
Net cash flows arising from operating
440396029.54286528222.27
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
470050000.00874500000.00
investment
Cash received from investment
3814981.0013047809.64
income
Net cash received from disposal
of fixed intangible and other 43950678.81 39017.83
long-term assets
Net cash received from disposal
of subsidiaries and other units
Other cash received concerning
337500.00
investing activities
Subtotal of cash inflow from
517815659.81887924327.47
investing activities
Cash paid for purchasing fixed
203585664.63330306167.83
intangible and other long-term assets
Cash paid for investment 841680000.00 655000000.00
Net increase of mortgaged loans
Net cash received from
16512205.96
subsidiaries and other units obtained
Other cash paid concerning
6600.00
investing activities
Subtotal of cash outflow from
1061777870.59985312767.83
investing activities
Net cash flows arising from investing
-543962210.78-97388440.36
activities
III. Cash flows arising from financing
activities:
Cash received from absorbing
2401000.00
investment
128深圳市深粮控股股份有限公司2021年年度报告全文
Including: Cash received from
absorbing minority shareholders’ 2401000.00
investment by subsidiaries
Cash received from loans 3189591562.34 1252948640.66
Other cash received concerning
financing activities
Subtotal of cash inflow from
3191992562.341252948640.66
financing activities
Cash paid for settling debts 2907274264.53 1125297927.31
Cash paid for dividend and
301598845.09281115923.63
profit distributing or interest paying
Including: Dividend and profit
of minority shareholder paid by 3811557.09
subsidiaries
Other cash paid concerning
20527342.7858702.23
financing activities
Subtotal of cash outflow from
3229400452.401406472553.17
financing activities
Net cash flows arising from financing
-37407890.06-153523912.51
activities
IV. Influence on cash and cash
equivalents due to fluctuation in -150074.44 -76401.31
exchange rate
V. Net increase of cash and cash
-141124145.7435539468.09
equivalents
Add: Balance of cash and cash
190494225.94154954757.85
equivalents at the period -begin
VI. Balance of cash and cash
49370080.20190494225.94
equivalents at the period -end
6. Cash Flow Statement of Parent Company
Unit: RMB/CNY
Item 2021 2020
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 137263979.66 3366464.12
services
129深圳市深粮控股股份有限公司2021年年度报告全文
Write-back of tax received 1637543.02 103987.33
Other cash received concerning
1956978556.11341811436.11
operating activities
Subtotal of cash inflow arising from
2095880078.79345281887.56
operating activities
Cash paid for purchasing
commodities and receiving labor 45095000.00 76108.23
service
Cash paid to/for staff and
54555323.3540060609.61
workers
Taxes paid 7083053.22 9318111.37
Other cash paid concerning
1252879663.51330103954.85
operating activities
Subtotal of cash outflow arising from
1359613040.08379558784.06
operating activities
Net cash flows arising from operating
736267038.71-34276896.50
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
122550000.0014500000.00
investment
Cash received from investment
815223.96260865827.42
income
Net cash received from disposal
of fixed intangible and other 2703.87
long-term assets
Net cash received from disposal
of subsidiaries and other units
Other cash received concerning
337500.00
investing activities
Subtotal of cash inflow from
123365223.96275706031.29
investing activities
Cash paid for purchasing fixed
12812134.5311789428.69
intangible and other long-term assets
Cash paid for investment 643355000.00 10000000.00
Net cash received from
subsidiaries and other units obtained
Other cash paid concerning
130深圳市深粮控股股份有限公司2021年年度报告全文
investing activities
Subtotal of cash outflow from
656167134.5321789428.69
investing activities
Net cash flows arising from investing
-532801910.57253916602.60
activities
III. Cash flows arising from financing
activities:
Cash received from absorbing
investment
Cash received from loans 757196852.36
Other cash received concerning
financing activities
Subtotal of cash inflow from
757196852.36
financing activities
Cash paid for settling debts 729024633.14
Cash paid for dividend and
234673618.10230507050.80
profit distributing or interest paying
Other cash paid concerning
58702.23
financing activities
Subtotal of cash outflow from
963698251.24230565753.03
financing activities
Net cash flows arising from financing
-206501398.88-230565753.03
activities
IV. Influence on cash and cash
equivalents due to fluctuation in -12147.08 -33541.26
exchange rate
V. Net increase of cash and cash
-3048417.82-10959588.19
equivalents
Add: Balance of cash and cash
5312806.7116272394.90
equivalents at the period -begin
VI. Balance of cash and cash
2264388.895312806.71
equivalents at the period -end
7. Statement of Changes in Owners’ Equity (Consolidated)
Current period
Unit: RMB/CNY
2021
Item
Owners’ equity attributable to the parent Company Min Tota
131深圳市深粮控股股份有限公司2021年年度报告全文
Other ority l
equity inter own
Othe
instrument Less ests ers’
r Prov
Per : Reas equit
Sha Capi com Surp ision Reta
pet Inve onab y
re Pre tal preh lus of ined Othe Subt
ual ntor le
cap fer reser ensi reser gene profi r otal
cap Ot y reser
ital red ve ve ve ral t
ital her shar ve
sto inco risk
sec es
ck me
urit
ies
11
52142382163459199479
I. The ending
535289367753533913524
balance of the
25272575.644199404.540
previous year
4.09.36371.039.76334.09
0
Add: Changes
of accounting
policy
Error
correction of
the last period
Enterprise
combine
under the
same control
Other
11
II. The 52 142 382 163 459 199 479
beginning 535 289 367 753 533 913 524
balance of the 25 272 575. 644 199 404. 540
current year 4.0 9.36 37 1.03 9.76 33 4.09
0
III. Increase/
Decrease in -163 232 175 349 -133 -98
the period 253 079 005 601 299 339
(Decrease is 072. 15.0 260. 02.5 239. 137.
listed with 71 5 24 8 96 38
“-”)
(i) Total 428 428 759 436
comprehensiv 720 720 041 310
132深圳市深粮控股股份有限公司2021年年度报告全文
e income 226. 226. 5.74 641.
090983
(ii) Owners’ -163 -163 -137 -300
devoted and 253 253 078 331
decreased 072. 072. 098. 171.capital 71 71 61 32
1.Common 213 213
shares 488 488
invested by 28.6 28.6
shareholders 8 8
2. Capital
invested by
holders of
other equity
instruments
3. Amount
reckoned into
owners equity
with
share-based
payment
-163-163-158-321
253253426680
4. Other
072.072.927.000.
71712900
232-253-230-38-234
(iii) Profit 079 714 507 115 318
distribution 15.0 965. 050. 57.0 607.
58580989
1. Withdrawal
079207
of surplus
15.0915.
reserves
505
2. Withdrawal
of general
risk
provisions
3.-230-230-38-234
Distribution 507 507 115 318
for owners (or 050. 050. 57.0 607.shareholders) 80 80 9 89
133深圳市深粮控股股份有限公司2021年年度报告全文
4. Other
(iv) Carrying
forward
internal
owners’
equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3. Remedying
loss with
surplus
reserve
4. Carry-over
retained
earnings from
the defined
benefit plans
5. Carry-over
retained
earnings from
other
comprehensiv
e income
6. Other
(v)
Reasonable
reserve
1. Withdrawal 128 128 128
in the report 350 350 350
period 2.97 2.97 2.97
2. Usage in 128 128 128
the report 350 350 350
period 2.97 2.97 2.97
134深圳市深粮控股股份有限公司2021年年度报告全文
(vi) Others
11
52125405181463666469
VI. Balance at
535963575254029141690
the end of the
25965490.17021064.3626
period
4.06.65421.272.3476.71
0
Last period
Unit: RMB/CNY
2020
Owners’ equity attributable to the parent Company
Other
equity
instrument
Pe Othe
Less
rpe r Prov Total
: Reas Mino
owne
Item Sha tua Capi com Surp ision Reta
Pr Inve onab rity
re l tal preh lus of ined Othe Subt rs’
efe ntor le intere
cap ca reser ensi reser gene profi r otal equit
rre Oth y reser sts
ital pit ve ve ve ral t y
d er shar ve
al inco risk
sto es
sec me
ck
uri
tie
s
11
I. The ending 52 142 350 149 442 4623
2026
balance of 535 289 522. 187 513 075 438
8694
the previous 25 272 55 601. 508 118 130.9
3.42
year 4.0 9.36 06 0.60 7.57 9
0
Add:
Changes of
accounting
policy
Error
correction of
the last
period
Enterprise
combine
135深圳市深粮控股股份有限公司2021年年度报告全文
under the
same control
Other
11
II. The
521423501494424623
beginning 2026
535289522.187513075438
balance of 8694
2527255601.508118130.9
the current 3.42
4.09.36060.607.579
year
0
III. Increase/
Decrease in 321 142 174
-2771718
the period -522 799 401 580
35390727
(Decrease is .55 74.3 360. 812..093.10
listed with 1 43 19
“-”)
405405
(i) Total -131 4037
088088
comprehensi 6539 7184
385.385.
ve income .09 6.45
5454
(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 321 -262 -230 -145 -231
distribution 799 687 507 7000 9640
136深圳市深粮控股股份有限公司2021年年度报告全文
74.3025.050.0050.80
111.80
1.321-32
Withdrawal 799 179
of surplus 74.3 974.reserves 1 31
2.
Withdrawal
of general
risk
provisions
3.
-230-230
Distribution -145 -231
507507
for owners 7000 9640
050.050
(or .00 50.80
80.80
shareholders)
4. Other
(iv) Carrying
forward
internal
owners’
equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3.
Remedying
loss with
surplus
reserve
4. Carry-over
retained
earnings
from the
defined
137深圳市深粮控股股份有限公司2021年年度报告全文
benefit plans
5. Carry-over
retained
earnings
from other
comprehensi
ve income
6. Other
(v)
-522-522-522.Reasonable.55.5555
reserve
1.
1121121124
Withdrawal
432432329.
in the report
9.189.1818
period
2. Usage in 112 112 1124
the report 485 485 851.period 1.73 1.73 73
(vi) Others
11
521423821634594795
VI. Balance 1999
535289367753533245
at the end of 1340
25272575.644199404.0
the period 4.33
4.09.36371.039.769
0
8. Statement of Changes in Owners’ Equity (Parent Company)
Current period
Unit: RMB/CNY
2021
Other
equity instrument
Other
Perp Capita Less:
Share compr Reaso Surplu Retai
Item Total etual l Invent ehensi nable s ned
capit Prefe Other owners’
capit Othe reserv ory ve reserv reserv profi
al rred equity
al r e shares incom e e t
stock e
secur
ities
I. The ending 1152 3018 10996 316 459739
balance of the 535 10656 3147. 785 0365.51
138深圳市深粮控股股份有限公司2021年年度报告全文
previous year 254.0 8.27 23 396.
001
Add:
Changes of
accounting
policy
Error
correction of
the last period
Other
II. The 1152 316
301810996
beginning 535 785 459739
106563147.
balance of the 254.0 396. 0365.51
8.2723
current year 0 01
III. Increase/
Decrease in -2163
232071572099.
the period 5815.
915.0567
(Decrease is 38
listed with “-”)
(i) Total 2320
2320791
comprehensive 7915
50.47
income 0.47
(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
139深圳市深粮控股股份有限公司2021年年度报告全文
4. Other
-2537
(iii) Profit 23207 -230507
1496
distribution 915.05 050.80
5.85
1. Withdrawal -2320
23207
of surplus 7915.
915.05
reserves 05
-230
2. Distribution
for owners (or
050.050.80
shareholders)
80
3. Other
(iv) Carrying
forward
internal
owners’ equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3. Remedying
loss with
surplus reserve
4. Carry-over
retained
earnings from
the defined
benefit plans
5. Carry-over
retained
earnings from
other
comprehensive
income
6. Other
140深圳市深粮控股股份有限公司2021年年度报告全文
(v) Reasonable
reserve
1. Withdrawal
in the report
period
2. Usage in the
report period
(vi) Others
1152
VI. Balance at 3018 2951
5351331714598962
the end of the 10656 4958
254.0062.28465.18
period 8.27 0.63
0
Last period
Unit: RMB/CNY
2020
Other
equity instrument
Perp Other
Shar Capit Less:
Pref etual compr Surpl
Item Reason Total e al Invent ehensi us Retaine
erre capit able Other owners’
capit Othe reserv ory ve reserv d profit
d al reserve equity
al r e shares incom e
stoc secu e
k ritie
s
115
I. The ending 3018 7778 25767
253450609
balance of the 1065 3172 2677.9
5257673.13
previous year 68.27 .92 4
4.00
Add:
Changes of
accounting
policy
Error
correction of
the last
period
Other
II. The 115 3018 7778 25767
450609
beginning 253 1065 3172 2677.9
7673.13
balance of the 525 68.27 .92 4
141深圳市深粮控股股份有限公司2021年年度报告全文
current year 4.00
III. Increase/
Decrease in
3217
the period 59112 912926
9974
(Decrease is 718.07 92.38.31
listed with
“-”)
(i) Total 32179
321799
comprehensiv 9743.1
743.18
e income 8
(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 -230507
99747025.1
distribution 050.80.311
1.
3217
Withdrawal -32179
9974
of surplus 974.31.31
reserves
2.
-23050
Distribution -230507
7050.8
for owners 050.80
0
(or
142深圳市深粮控股股份有限公司2021年年度报告全文
shareholders)
3. Other
(iv) Carrying
forward
internal
owners’
equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3. Remedying
loss with
surplus
reserve
4. Carry-over
retained
earnings from
the defined
benefit plans
5. Carry-over
retained
earnings from
other
comprehensiv
e income
6. Other
(v)
Reasonable
reserve
1.
Withdrawal
in the report
period
2. Usage in
143深圳市深粮控股股份有限公司2021年年度报告全文
the report
period
(vi) Others
115
VI. Balance 3018 1099 31678
253459739
at the end of 1065 6314 5396.0
5250365.51
the period 68.27 7.23 1
4.00
III. Basic information of Company
1. Company profile
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 1 August 1991.Then with the approval (Document
(1991)No.126) from People’s Bank of China the Company began to list on Shenzhen Stock Exchange. The
Company belongs to the grain oil food and beverage industry.As of 31 December 2021 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: general operating items:
Purchase and sales of grain and oil grain & oil reserves; operation and processing of grain & oil products;
production of tea tea products tea and natural plant extract canned foods beverages and native products
(business license of the production place shall be separately applied for); feed management and processing
(outsourcing); investment operation and development of grain & oil logistics feed logistics and tea garden etc.;
sales of feed and tea; warehousing services; food circulation services; modern food supply chain services;
technology development and services of grain & oil tea plant products soft drinks and foods; construction of
E-commerce and information IT development and supporting services; industrial investment (specific items will
be declared separately); domestic trade; operating the import and export business; engaged in real estate
development and operation on the lands where the right-to-use has been legally acquired; development operation
leasing and management of the own property; property management; providing management services to
hotels.(items mentioned above which are involved in approval from national laws administrative regulations and
decision of the state council must be submitted for examination and approval before operation ). Licensed
business item: wholesale of prepackaged food (excluding reheating prepackaged food) (in non-physical way);
information service (internet information service only); general freight professional transportation (refrigeration
and fresh-keeping).Parent enterprise of the Company: Shenzhen Food Materials Group Co. Ltd; actual controller of the Company:
Assets Supervision and Administration Commission of Shenzhen municipal People’s Government.
144深圳市深粮控股股份有限公司2021年年度报告全文
The financial statement has been approved by BOD of the company for reporting on 24 April 2022.
2. Consolidate scope for the financial statement
Change of the consolidate scope in the Period found more in “Note VIII. Change of consolidate scope”
Information with subsidiaries concerned found more in the “Note IX. Equity in other entity”
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
2. Going concern
The financial statement has been prepared on a going concern basis.V. Major accounting policy accounting estimation
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 31 December 2021 as well as the consolidate and parent company’s operational
results and cash flow for year of 2021.
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.
145深圳市深粮控股股份有限公司2021年年度报告全文
3. Operating cycle
Operating cycle of the Company was 12 months
4. Standard currency
The Company and its subsidiaries take RMB as the standard currency for bookkeeping.
5. Accounting treatment for business combinations under the same control and those not under the same
control
Business combination under the same control: The assets and liabilities the Company acquired in a business
combination shall be measured in accordance with book value of assets liabilities (including the ultimate
controlling party of goodwill acquired by the merging parties and the formation of) stated in combined financial
report of the ultimate controlling party on the merger date. The net book value of assets and the payment of the
merger consideration in the merger book value (or nominal value of shares issued) shall be adjusted in the share
premium of reserve capital. the share premium in capital reserve is not enough for deducting retained earnings .Business combination not under the same control: Combination cost is the fair value of the assets paid the
liabilities incurred or assumed by the purchaser for the acquisition of the control of the purchaser and the equity
securities issued on the purchase date. The difference between the fair value and book value is recognized in profit
or loss. Goodwill is realized by the Company as for the difference between the combination cost and the fair value
of the recognizable net assets of the acquiree acquired by acquirer in such business combination. In case that the
above cost is less than the above fair value even with re-review then the difference shall be recorded in current
gains and losses. Each identifiable assets liabilities and contingent liability of the acquiree acquired in a
combination that qualifies for recognition is measured at fair value at the date of purchase.The directed expenses incurred in the business combination are recorded into current gains/losses; the trading fees
for issuing equity securities or debt securities for the business combination shall be recorded into the initial
confirmation amount of equity securities or debt securities.
6. Methods for preparation of consolidated financial statements
Consolidated scope
The consolidation scope of the consolidated financial statements of the Company is fixed on the basis of control
which includes the Company and all subsidiaries. Control means that the Company has power over the investee
enjoys variable returns through its participation in the investee’s related activities and has the ability to influence
the amount of returns by using the power over the investee.Consolidated procedure
146深圳市深粮控股股份有限公司2021年年度报告全文
The Company regards the entire enterprise group as an accounting entity and prepares consolidated financial
statements in accordance with unified accounting policies to reflect the overall financial status operating results
and cash flow of the enterprise group. The influence of internal transactions between the company and its
subsidiaries and among the subsidiaries shall be offset. If internal transactions indicate that the relevant assets
have suffered impairment losses the partial losses shall be confirmed in full. If the accounting policy and
accounting period adopted by the subsidiary are inconsistent with the Company when preparing the consolidated
financial statements make necessary adjustments in accordance with the Company's accounting policy and
accounting period.Subsidiary's equity current net profits or losses and current comprehensive income belonging to minority
shareholders shall be listed respectively under item of owners’ equity in the consolidated balance sheet item of
net profit in profit sheet and item of total comprehensive income. Current loss minority shareholders of a
subsidiary exceed the minority shareholders in the subsidiary's opening owners' equity share and the formation of
balance offset against minority interests.
(1) Increase of subsidiary or business
During the reporting period the merger of the enterprises under the same control results in additional subsidiaries
or business the operation results and cash flow of the subsidiaries or business from beginning to the end of the
reporting shall be included in the consolidated profit statement; also adjust the opening figures of the consolidated
financial statements and the related items in the comparative statements the consolidated reporting body is
considered to have existed since the point when the ultimate controller began to control it.If additional investment and other reasons can lead investee to be controlled under the same control equity
investments made before obtaining controlling right relevant gains and losses and other comprehensive income as
well as other changes in net assets confirmed during the latter date between point obtaining original equity and
combined party and combinee under the same control day to the combined day shall be offset against the retained
earnings or profit or loss of the comparative reporting period.During the reporting period if a subsidiary or business is added due to a business combination not under the same
control it shall be included in the consolidated financial statements on the basis of the fair value of various
identifiable assets liabilities and contingent liabilities determined on the purchase date.Equity held from investee before acquisition date shall be measured at fair value of acquisition date if additional
investment and other reasons can lead investee to be controlled under the same control. Difference between the
fair value and the book value is recognized as investment income. Other comprehensive income and other changes
in owner’s equity under the equity method of accounting that can be reclassified to profit or loss at a later date are
transferred to investment income for the period to which they belong at the date of purchase.
147深圳市深粮控股股份有限公司2021年年度报告全文
(2) Disposal of subsidiaries
* The general approach
If losing controlling right to investee due to disposal of partial equity the remaining equity after the disposal shall
be re-measured at fair value at the date when control is lost. Price of equity disposal plus fair value of the
remaining equity then subtracting net assets held from the former subsidiary from the acquisition date or
combination date initially measured in accordance with original stake and goodwill the difference shall be
included in investment income of the period losing controlling right. Other comprehensive income and other
changes in owner’s equity under the equity method of accounting related to equity investments in former
subsidiaries that can be reclassified to profit or loss in the future are transferred to investment income in the
current period when control is lost.* Step disposal of subsidiaries
As multiple transactions over disposal of the subsidiary's equity lead to loss of controlling right if the terms of the
transaction situation and economic impact subject to one or above of the following conditions usually it indicates
repeated transactions should be accounted for as a package deal:
i. These transactions are made considering at the same time or in the case of mutual impact;
ii. These transactions only reach a complete business results when as a whole;
iii. A transaction occurs depending on the occurrence of at least one other transaction;
iv. Single transaction is not economical but considered together with other transactions it is economical.If each transaction is a package transaction each transaction is accounted for as a disposal of a subsidiary and loss
of control; before the loss of control the difference between the disposal price and the corresponding net assets of
the subsidiary recognized as other comprehensive income in the consolidated financial statements into current
profit and loss at current period when losing controlling right.If each transactions doesn’t form a package deal equity held from subsidiary shall be accounted in accordance
with relevant rules before losing controlling right while in accordance with general accounting treatment when
losing controlling right.
(3) Purchase of a minority stake in the subsidiary
Long-term equity investment of the Company for the purchase of minority interests in accordance with the newly
acquired stake in the new calculation shall be entitled to the difference between the net assets from the acquisition
date (or combination date) initially measured between the consolidated balance sheet adjustment capital balance
of the share premium in the capital reserve share premium insufficient any excess is adjusted to retained earnings.
(4) Disposal of equity in subsidiary without losing control
Disposal price and disposal of long-term equity investment due to partial disposal of subsidiaries and long-term
equity investment made between the relative net assets from the purchase date or the date of merger were initially
measured at the difference between the subsidiary shall enjoy the consolidated balance sheet adjustment in the
balance of the share premium capital balance of the share premium insufficient any excess is adjusted to retained
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earnings.
7. Classification of joint venture arrangement and accounting for joint operations
The joint venture arrangement are divided into joint operations and joint ventures.The joint operation a joint venture arrangement in which the joint ventures enjoys the assets and bear the liabilities associated with
the arrangement.The Company recognized the following items related to its shares of interest in the joint operation:
(1) Recognition of the assets held separately by the Company and recognition of the jointly held assets based on the share of the
Company;
(2) Recognition of the liabilities borne by the Company individually and liabilities borne jointly in proportion to the shares;
(3)Recognition of revenue from the sales of the shares of common operating output;
(4) Recognition of the revenue from joint operation arising from the sale of the output at the shares;
(5) Recognition of the separately incurred costs and recognition ot the expenses incurred in joint operations based on the shares;
Investment in joint venture is accounted for using the equity method found more in “V(22) Long-term equity investment”
8. 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.
9. Foreign currency business and conversion of foreign currency statement
Foreign currency business
The foreign currency business uses the spot exchange rate (or: using an exchange rate determined in accordance
with a systematic and reasonable method that approximates the spot rate on the date of the transaction. Tip: if the
method is used what method and what caliber should be specified) on the transaction date as the conversion rate to
convert the foreign currency amount into RMB.The balance of foreign currency monetary items on the balance sheet date is converted at the spot exchange rate on
the balance sheet date. The resulting exchange differences except that the balance of exchange generated from the
foreign currency special borrowings related to the assets whose acquisition and construction are eligible for
capitalization is disposed in accordance with the principle of borrowing costs capitalization are included in the
current profit and loss.Conversion of foreign currency financial statements
Assets and liabilities in the balance sheet are converted at the spot exchange rate on the balance sheet date; except
for the “undistributed profit” item other items of the owner's equity items are converted at the spot exchange rate at
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the time of occurrence. Income and expense items in the income statement are converted at the spot exchange rate
(or: using an exchange rate determined in accordance with a systematic and reasonable method that approximates
the spot rate on the date of the transaction. Tip: if the method is used what method and what caliber should be
specified)on the transaction date.When disposing an overseas operation the translation difference of the foreign currency financial statements related
to the overseas operation is transferred from the owner's equity items to the disposal of the current profit and loss.
10. Financial instruments
The Company recognizes a financial assets financial liabilities or equity instrument when it becomes a party to a
financial instrument contract.Categories of financial instruments
According to the business model of managing financial assets and the contractual cash flow characteristics of
financial assets at initial recognition the Company classifies the financial assets into the financial assets
measured at amortized cost the financial assets(debt instrument) 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 gain or loss.The Company classifies the financial assets that meet the following conditions and are not designated to be
measured at fair value and whose changes are recorded into the current gain/losses as financial assets measured at
amortized cost:
－ the business mode is aimed at collecting contractual cash flows;
－ contractual cash flows represent only payments of principal and interest based on the outstanding principal
amount.The Company classifies the financial assets (debt instruments) that meet the following conditions and are not
specified as measured at fair value and whose changes are recorded into the current gain/losses as financial assets
(debt instruments) measured at fair value and whose changes are recorded into other comprehensive income:
－ the business model is aimed at both the collection of contractual cash flows and the sales of the financial
assets;
－ contractual cash flows represent only payments of principal and interest based on the outstanding principal
amount.For non-trading equity instrument investment the Company determines whether it is designated as a financial asset
(equity instrument) measured at fair value and whose changes are included in other comprehensive income at the
initial recognition. The designation is made on a single investment basis and the related investment meet the
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definition of an equity instrument from an issuer’s perspective.Except for the above-mentioned financial assets measured at amortized cost and at fair value with changes
included in other comprehensive income the Company classifies all other financial assets as financial assets
measured at fair value and with changes included in current profits and losses. At the time of initial recognition if
accounting mismatches can be eliminated or significantly reduced the Company can irrevocably designate the
financial assets that should be classified as financial assets measured at amortized cost or measured at fair value
and whose changes are included in other comprehensive income as the financial assets measured at fair value and
whose changes are included in the current profit and loss.In the initial recognition financial liabilities are classified as the financial liabilities measured at fair value and
whose changes are included in current profit and loss and the financial liabilities measured at amortized cost.Financial liabilities that meet one of the following conditions can be designated as financial liabilities measured at
fair value and whose changes are included in current profit and loss in the initial measurement:
1) The designation can eliminate or significantly reduce accounting mismatches.
2) According to the enterprise risk management or investment strategy specified in the official written document
manage and make performance evaluation of the financial liability portfolio or financial assets and financial
liability portfolio based on fair value and report to the key management personnel based on this.
3) The financial liability includes embedded derivatives that need to be separately split.
Recognition and measurement for financial instrument
(1) Financial assets measured at amortized cost
Financial assets measured at amortized cost include notes receivable accounts receivable other receivables
long-term receivables and debt investment which are initially measured at fair value and related transaction costs
are included in the initial recognition amount. The accounts receivable not including major financing components
and the accounts receivable that the Company decides not to consider the financing component of not more than one
year are initially measured at the contract transaction price.Interest calculated by the effective interest method during the holding period is included in the current profit and
loss.When recovering or disposing the difference between the price obtained and the book value of the financial asset is
included in the current profit and loss.
(2) Financial assets (debt instruments) measured at fair value and whose changes are included in other
comprehensive income
Financial assets (debt instruments) measured at fair value and whose changes are included in other comprehensive
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income including receivables financing other debt investment etc. are initially measured at fair value and related
transaction expenses are included in the initial recognition amount. The financial assets are subsequently measured
at fair value the changes in fair value are included in other comprehensive income except for interest impairment
losses or gains and exchange gains and losses calculated by using the effective interest method.When a financial asset is terminated for recognition the accumulated gain or loss previously included in other
comprehensive income is transferred from other comprehensive income and included in current profit and loss.
(3) Financial assets (equity instruments) measured at fair value and whose changes are included in other
comprehensive income
Financial assets (equity instruments) measured at fair value and whose changes are included in other comprehensive
income including other equity instruments etc. are initially measured at fair value and related transaction
expenses are included in the initially recognized amount. The financial assets are subsequently measured at fair
value and changes in fair value are included in other comprehensive income. The dividends obtained are included in
the current profits and losses.When a financial asset is terminated for recognition the accumulated gain or loss previously included in other
comprehensive income is transferred from other comprehensive income and included in retained earnings.
(4) Financial assets measured at fair value and whose changes are included in current profit and loss
Financial assets measured at fair value and whose changes are included in current profit and loss including
Tradable financial assets derivative financial assets and other non-current financial assets etc. are initially
measured at fair value and related transaction expenses are included in the initial recognition amount. The financial
assets are subsequently measured at fair value and changes in fair value are recognized in current profit and loss.
(5) Financial liabilities measured at fair value and whose changes are included in current profit and loss
Financial liabilities measured at fair value and whose changes are included in current profit and loss including
transaction financial liabilities derivative financial liabilities etc. are initially measured at fair value and related
transaction expenses are included in current profit and loss. The financial liabilities are subsequently measured at
fair value and changes in fair value are included in current profit and loss.When a financial liability is terminate for recognition the difference between book value and the consideration
paid shall be recorded into the current profit and loss.
(6) Financial liabilities measured at amortized cost
Financial liabilities measured at amortized cost including short-term borrowings bills payable accounts payable
other payable long-term borrowings bonds payable and long-term payable are initially measured at fair value and
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related transaction expenses are included in the initial recognition amount.Interest calculated by the effective interest method during the holding period is included in the current profit and
loss.When a financial liability is terminate for recognition the difference between the consideration paid and the book
value of the financial liability is included in current profit and loss.Termination of recognition and transfer of financial assets
If one of the following conditions is satisfied the Company shall terminate the recognition of financial assets:
－ the contractual rights to receive cash flows from financial assets terminates;
－ the financial asset has been transferred and virtually all the risks and rewards of the ownership of the financial
asset have been transferred to the transferee;
－ the financial assets have been transferred. Although the company has neither transferred nor retained nearly all
the risks and rewards of ownership of the financial assets it has not retained control of the financial assets
When transfer of financial assets occurs if substantially all the risks and rewards of ownership of the financial
asset are retained the recognition of the financial asset shall not be terminated.When judging whether or not the aforesaid terminal recognition condition for financial assets is arrived at for
transfer of financial assets the Company generally adopts the principle that substance over weighs format.The Company divides such transfer into entire transfer and part transfer. As for the entire transfer meeting
condition for discontinued recognition balance between the following two items is recorded in current gains and
losses:
1) Carrying value of financial assets in transfer;
2) Aggregate of the consideration received from transfer and accumulative movements of fair value originally
recorded in owners’ equity directly (applicable for the financial assets (debt instrument) measured at fair value and
whose changes are recorded into other comprehensive income)
As for the part transfer meeting condition for discontinued recognition entire carrying value of financial assets in
transfer is shared by discontinued recognition part and continued recognition part in light of their respective fair
value. Balance between the following two items is recorded in current gains and losses:
1) Carrying value of discontinued recognition part;
2) Aggregate of the consideration of discontinued recognition part and amount of such part attributable to
accumulative movements of fair value originally recorded in owners’ equity directly (applicable when financial
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assets involved in transfer belong to financial assets (debt instrument) measured at fair value and whose changes
are included in other comprehensive income).Financial assets are still subject to recognition if transfer of such assets doesn’t satisfy the condition for
discontinued recognition. And consideration received is recognized as financial liability.Terminating the recognition of financial liability
As for the financial liabilities with its whole or part present obligations released the company shall terminate the
recognition for such financial liabilities or part of it. if the company enters into agreement with its creditor to
substitute for the existing financial liabilities by means of assuming new financial liabilities then the company
shall terminate the recognition for the existing financial liabilities and recognized the new financial liabilities
provided that the contract clauses of the new and the existing financial liabilities are different in substance.If the company makes substantial amendment to the whole or part contract clauses of the existing financial
liabilities it shall terminate the recognition for the existing financial liabilities or part of it. Meanwhile the
financial liabilities with amendment to its clauses shall be realized as new financial liabilities.In case of terminate the recognition of financial liabilities in whole or part the difference between the carrying
value of such financial liabilities and consideration paid (including the non-cash assets exchanged or new
financial liabilities assumed) shall be recorded in current gains and losses.In case that the company repurchases part of financial liabilities based on the comparative fair value of the
continuing recognition part and the derecognizing part the company shall allocate the carrying value of the
financial liabilities in whole on the repurchase date. Difference between the carrying value allocated to the
derecognizing part and the consideration paid (including the non-cash assets exchanged or new financial liabilities
assumed) shall be recorded in current gains and losses.Recognition method for fair value of financial assets and financial liabilities
As for the financial instrument with an active market the fair value is determined by the offer of the active market;
there is no active market for a financial instrument the valuation techniques to determine its fair value. At the
time of valuation the Company adopted applicable in the present case and there is enough available data and
other information technology to support valuation assets or liabilities of feature selection and market participants
in the trading of the underlying asset or liability considered consistent input value and priority as the relevant
observable inputs. Where relevant observable inputs can not get or do not get as far as practicable the use of
un-observable inputs.Testing of the financial assets impairment and accounting treatment
The Company estimates the expected credit losses of financial assets measured at amortized cost financial assets
(debt instruments) measured at fair value and whose changes are included in other comprehensive income and
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financial guarantee contracts in a single or combined way.The Company considers reasonable and well-founded information about past events current conditions and
forecasts of future economic conditions and uses the risk of default as the weight to calculate the
probability-weighted amount of the present value of the difference between the cash flow receivable from the
contract and the cash flow expected to be received to confirm the expected credit loss.If the credit risk of the financial instrument has increased significantly since the initial recognition the Company
measures its loss provision based on the amount equivalent to the expected credit losses for the entire duration of the
financial instrument; if the credit risk of the financial instrument has not increased significantly since the initial
recognition the Company measures its loss provision based on the amount equivalent to the expected credit losses
of the financial instrument in the next 12 months. The increase or reversal amount of the resulting loss provision is
included in the current profit and loss as an impairment loss or gain.The Company compares the risk of default on the balance sheet date of financial instruments with the risk of
default on the date of initial recognition to determine the relative change in the risk of default during the expected
life of the financial instrument so as to assess whether the credit risk of the financial instrument has increased
significantly since the initial recognition. Usually if it s overdue for more than 30 days the Company shall believe
that the credit risk of the financial instrument has increased significantly unless there is conclusive evidence that the
credit risk of the financial instrument has not increased significantly since the initial recognition.If the financial instrument's credit risk at the balance sheet date is low the Company shall believe that the credit risk
of the financial instrument has not increased significantly since the initial recognition.If there is objective evidence that a financial asset has suffered credit impairment the Company shall make
provision for impairment of the financial asset on a single basis.Regarding the accounts receivable and contract assets formed from transactions regulated by the "Accounting
Standards for Business Enterprises No. 14-Revenue" (2017) regardless of whether it contains a significant
financing component the Company always measure its loss reserves at the amount equivalent to the expected
credit loss during the entire duration.For lease receivables the Company always chooses to measure its loss reserves at an amount equivalent to
expected credit losses during the entire duration.If the Company no longer reasonably expects whether the contractual cash flow of a financial asset can be
recovered in whole or in part it will directly write down the book balance of the financial asset.
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11. Note receivable
12. Account receivable
13. Receivable financing
14. Other account receivable
15. Inventory
Classification and costs of inventory
Inventory includes raw materials revolving material goods in process goods in transit and work in
process-outsourced and so on.Inventory is initially measured at cost which includes the costs of purchase processing costs and other
expenditures incurred in bringing the inventories to their present location and condition.Valuation methods for delivery of inventory
The weighted average or individual valuation method is used when the inventory is issued according to the nature
of the business.Recognition standards of the net realizable value for inventory
On the balance sheet date inventories shall be measured at the lower of cost and net realizable value. When the
cost of inventories is higher than its net realizable value make provisions for inventory write-down. The net
realizable value refers to the amount of the estimated selling price of the inventory minus the estimated cost
estimated selling expenses and related taxes and fees at the time of completion in daily activities.The net realizable value of inventory products and materials for sale in normal business production is measured
as the residual value after deducting the estimated sales expense and related taxes and fees from the estimated
selling price; the net realizable value of an item of inventories subject to further processing in normal business
production is measured as the residual value after deducting the sum of the estimated costs of completion sales
expense and related taxes and fees from the estimated selling price of the for-sale item. The net realizable value of
the quantity of inventories held to satisfy firm sales or service contracts is based on the contract price. If the sales
contracts are for less than the inventory quantities held the net realizable value of the excess is based on general
selling prices.After making provisions for inventory write-down if the factors that previously affected the write-down of the
inventory value have disappeared causing the net realizable value of the inventory to be higher than its book
value it shall be reversed within the amount of the inventory write-down that has been withdrawn and the
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reversed amount is included in the current profit and loss.Inventory system
Inventory system is the perpetual inventory system.Amortization of low-value consumables and packaging materials
(1) Low-value consumables adopts the method of primary resale;
(2) Wrappage adopts the method of primary resale.
16. Contract asset
Methods and criteria for recognition of a contract asset
The Company lists contract assets or contract liabilities in the balance sheet based on the relationship between
performance obligations and customer payments. The Company lists the right (and the right depends on other
factors other than the passage of time) to receive consideration for the transfer of goods or services to customers
as contract assets. Contract assets and contract liabilities under the same contract are presented in net amount. The
Company's unconditional (only depending on the passage of time) right to collect consideration from customers
are separately listed as receivables.Determination method and accounting treatment method of expected credit loss of contract assets
Found more in the 10.6 Testing of the financial assets impairment and accounting treatment carried under V(10)
Financial instrument
17. Contract cost
Contract cost includes contract performance cost and contract acquisition cost.The cost incurred by the Company for the performance of the contract does not fall within the scope of relevant
standards and norms such as inventory fixed assets or intangible assets and shall be recognized as an asset as
contract performance cost when the following conditions are met:
* The cost is directly related to a current or anticipated contract.* This cost increases the Company's resources for future performance obligations.* This cost is expected to be recovered.The incremental cost incurred by the Company to acquire the contract which is expected to be recovered shall be
recognized as an asset as the contract acquisition cost.Assets related to contract cost are amortized on the same basis as revenue recognition for the goods or services
related to the assets; However if the amortization period of the contract acquisition cost does not exceed one year
the Company shall record it into the profit and loss of the current period when it occurs. (Tip: for the contracts
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with acquisition costs amortized over a period not exceeding one year the Company may also choose to
recognized an asset first and amortized using the same basis as revenue recognition for the goods or services
associated with the assets. The enterprises should make disclosure according to the actual situation)
If the carrying value of the assets related to the contract cost is higher than the difference between the following
two items the Company shall make an impairment provision for the excess part and recognize it as an asset
impairment loss:
(1) the remaining consideration expected to be obtained from the transfer of the goods or services related to the
asset;
(2) the cost estimated to occur for the transfer of the relevant goods or services.
If the said difference is higher than the book value of the asset due to the changes in the factors of impairment in the
previous period the Company shall reverse the original provision for impairment which has been set aside and
record it into the profits and losses of the current period provided that the book value of the asset after being
reversed shall not exceed the book value of the asset on the date of reversal under the assumption that no impairment
provision is set aside.
18. Assets held for sale
19. Creditors’ investment
20. Other creditors’ investment
21. Long-term account receivable
22. Long-term equity investment
Criteria for judgment of the common control and significant influence
Common control refers to the control that is common to an arrangement in accordance with the relevant
agreement and the relevant activities of the arrangement must be agreed upon by the participants sharing the
control rights before making a decision. Where the Company and other joint venture parties jointly control the
invested entity and have rights to the net assets of the invested entity the invested entity is the joint venture of the
Company.Significant influence refers to the right to participate in making decisions relating to the financial and operational
policies of an enterprise while not able to control or jointly control (with others) establishment of these policies.If the Company has significant influence on the invested enterprises than such invested enterprises shall be the
joint venture of the Company.
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Determination of initial investment cost
(1) Long-term equity investment formed by business combination
For a long-term equity investment in a subsidiary formed by a business combination under the same control the
initial investment cost of the long-term equity investment is based on the share of the book value of the owner’s
equity of the combined party obtained in the consolidated financial statements of the ultimate controlling party on
the combining date. The difference between the initial investment cost of long-term equity investment and the
book value of the consideration paid shall be used to adjust the equity premium in the capital reserve; when the
equity premium in the capital reserve is insufficient to offset adjust the retained earnings. If it is possible to
exercise control over an investee under the same control due to additional investment etc. adjust the equity
premium based on the difference between the initial investment cost of the long-term equity investment confirmed
in accordance with the above principles and the book value of the long-term equity investment before the
combination plus the sum of the book value of the new valuable consideration for the shares obtained on the
combining date if the equity premium is not enough to offset offset the retained earnings.For long-term equity investment in a subsidiaries formed by business combination not under the same control the
initial investment cost is based on the cost of the combination determined at the date of purchase. If it is possible
to exercise control over an investee not under the same control due to additional investment the sum of book
value of the equity investment originally held plus the cost of the additional investment is used as the initial
investment cost.
(2) Long-term equity investment required by means other than business combination
For long-term equity investments obtained through payment with cash then the actual payment shall be viewed as
initial investment cost.For long-term equity investments obtained through issuance of equity securities then the fair value of such
securities shall be viewed as initial investment cost
Subsequent measurement and recognition of gains and losses
(1) Long-term equity investment measured by cost
The long-term equity investment for subsidiary shall be measured by cost unless the investment qualities as held
for sale. Other than payment actually paid for obtaining investment or cash dividend or profit included in
consideration which has been declared while not granted yet the Company recognizes investment income
according to its share in the cash dividend or profit declared for grant by the invested unit.
(2) Long-term equity investment measured by equity
The Company calculates long term equity investment in associates and joint ventures under equity method. Where
the initial investment cost of a long-term equity investment exceeds the Group’s share of the fair value of the
investee’s identifiable net assets at the time of acquisition no adjustment is made to the initial investment cost.
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Where the initial investment cost is less than the Group’s share of the fair value of the investee’s identifiable net
assets at the time of acquisition the difference is recognized in profit or loss for the period. And adjusted the costs
of long-term equity investment at the same time.Return on investments and other comprehensive income is recognized respectively by shares of net gains and
losses realized by the invested company and other comprehensive income and book value of such investment is
adjusted accordingly. Profit or cash dividends pro rata distributed by the invested company are to minus book
value of the relative long-term investment. Book value of long-term investment is adjusted when changes occur
other than net gains and losses other comprehensive income and profit distribution of the invested company
(abbreviated as other changes of owners’ equity) and is to report in owners’ equity accordingly.When confirming the share of the net profit and loss other comprehensive income and other owner’s equity
changes that should be enjoyed by the investee adjust the net profit and other comprehensive income of the
investee based on the fair value of the investee’s identifiable net assets at the time when the investment is obtained
and in accordance with the company’s accounting policies and accounting period before confirmation.The un-realized transaction gains/losses attributable to investment enterprise internally occurred between the
Company affiliated units and joint-ventures should calculated by proportion of shares-holding which should be
offset than recognized investment gains/losses(except where the assets invested or sold constitute a business). If
the unrealized internal transaction losses with the investee are assets impairment losses they will be fully
recognized.In addition to assuming obligations for additional losses the company’s net losses to joint ventures or associates
are limited to the book value of long-term equity investments and other long-term equity that actually constitutes
net investment in joint ventures or associates write down to zero. If a joint venture or an associated enterprise
realizes net profits in the future the company resumes recognizing its share of profits after the share of profits
makes up for the share of unrecognized losses.
(3) Disposal of long-term equity investment
Difference between carrying value and actual acquisition price in respect of disposal of long term equity
investment shall be included in current period gains and losses.Long-term equity investment accounted for by equity method
For long-term equity investments accounted for by partial disposition equity method the remaining equity is still
accounted for by the equity method the other comprehensive income recognized by the original equity method
shall be carried forward in a corresponding proportion on the same basis as the direct disposal of related assets or
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liabilities by the investee other changes in owner's equity are carried forward to the current profit and loss on a
pro rata basis.If the joint control or significant influence on the investee is lost due to the disposal of equity investment for the
other comprehensive income recognized by the original equity investment due to the adoption of the equity
method use the same basis as the investee to directly dispose of related assets or liabilities for accounting
treatment when terminating the adoption of the equity method the same basis as the direct disposal of related
assets or liabilities by the investee is used for accounting treatment all other changes in owner's equity are
transferred to the current profit and loss when terminating the adoption of the equity method.If the control of the investee is lost due to the disposal of part of the equity investment and the remaining equity
can exercise joint control or exert significant influence on the investee when preparing individual financial
statements the equity method shall be used for accounting and the remaining equity shall be deemed to be
accounted for by the equity method for adjustment since the acquisition and the other comprehensive income
recognized before obtaining the control of the investee is carried forward on the same basis as the direct disposal
of related assets or liabilities by the investee in proportion changes in other owners’ equity confirmed by the
equity method are carried forward to the current profit and loss on a pro rata basis; if the remaining equity cannot
exercise joint control or exert significant influence on the investee it shall be recognized as a financial asset and
the difference between its fair value and book value on the day when the control is lost is included in the current
profit and loss and all other comprehensive income and other owner's equity changes recognized before obtaining
the control of the investee are carried forward.If the equity investment in a subsidiary is disposed of through multiple transactions until it loses control and it is
a package transaction each transaction shall be accounted for as a transaction that disposes of the equity
investment of the subsidiary and loses control. The difference between the cost of each disposal before the loss of
control and the book value of the long-term equity investment corresponding to the equity being disposed of is
first recognized as other comprehensive income in individual financial statements and then transferred to the
current profit and loss of the loss of control when the control is lost. If it is not a package transaction each
transaction shall be accounted for separately.
23. Investment real estate
Measurement
Measured by cost
Depreciation or amortization method
Investment real estate is defined as the real estate with the purpose to earn rent or capital appreciation or both
including the rented land use rights and the land use rights which are held and prepared for transfer after
appreciation the rented buildings (including the buildings for rent after completion of self-construction or
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development activities and the buildings under construction or development for future lease).Subsequent expenditures related to investment real estate are included in the cost of investment real estate when it
is probable that the related economic benefits will flow and the cost can be measured; otherwise charged to
current gain/loss as incurred.Current investment real estate of the Company are measured by cost. As for the investment real estate-rental
building measured by cost the depreciation policy is same as the fixed assets of the Company the land use right
for rental has the same amortization policy as intangible assets.
24. Fix assets
(1) Recognition
Fixed assets is defined as the tangible assets which are held for the purpose of producing goods providing
services lease or for operation & management and have more than one year of service life. Fixed assets should be
recognized for qualified the followed conditions at the same time:
* It is probable that the economic benefits associated with the assets will flow into the Company;
* The cost of the assets can be measured reliably.Fixed assets are initially measured at cost (and considering the impact of expected abandonment cost factors).Subsequent expenditures related to fixed assets are included in the cost of fixed assets when the related economic
benefits are likely to flow in and their costs can be reliably measured; the book value of the replaced part is
derecognized; all other subsequent expenditures are included in the current profit and loss when incurred.
(2)Depreciation methods
The Company provides for depreciation of fixed assets by category using the straight-line method and determines the depreciation
rate on the category estimated useful life and estimated net residual value of fixed assets. For fixed assets with the provision for
impairment the depreciation amount will be determined in the future based on the carrying amount after deduction of the provision
for impairment and remaining useful life. Where individual component parts of an item of fixed asset have different
useful lives or provide benefits to the enterprise in different manners thus necessitating use of different
depreciation rates or methods the depreciation of the fixed asset is respectively provided.Depreciation methods periods residual value rate and annual depreciation rates of fixes assets are as follows
Yearly depreciation
Category Method Years of depreciation Scrap value rate
rate
162深圳市深粮控股股份有限公司2021年年度报告全文
Straight-line
House and buildings
depreciation
Straight-line
Production buildings 20-35 5.00 2.71-4.75
depreciation
Non-production Straight-line
20-405.002.38-4.75
buildings depreciation
Temporary dormitory Straight-line
5-155.006.33-19.00
and simple room etc. depreciation
Straight-line
Gas storage bin 20 5.00 4.75
depreciation
Straight-line
Silo 50 5.00 1.90
depreciation
Wharf and supporting Straight-line
505.001.90
facilities depreciation
Straight-line
Machinery equipment
depreciation
Other machinery Straight-line
10-205.004.75-9.50
equipment depreciation
Warehouse
Straight-line
transmission 20 5.00 4.75
depreciation
equipment
Straight-line
Transport equipment 3-10 5.00 9.50-31.67
depreciation
Electronic equipment Straight-line
2-105.009.50-47.50
and others depreciation
(3) Recognition measurement and depreciation of fixed assets held under finance lease
25. Construction in progress
Construction in progress is measured at the actual cost incurred. The actual cost includes construction cost
installation cost borrowing costs that meet the capitalization conditions and other necessary expenditures
incurred before the construction in progress reaches its intended usable state. When the construction in progress
reaches the intended usable state it will be transferred to fixed assets and depreciation will be accrued from the
next month.
26. Borrowing expenses
Recognition of the borrowing expenses capitalization
163深圳市深粮控股股份有限公司2021年年度报告全文
Borrowing expenses that attributed for purchasing or construction of assets that are complying start to be
capitalized and counted as relevant assets cost; other borrowing expenses reckoned into current gains and losses
after expenses recognized while occurred.Assets satisfying the conditions of capitalization are those assets of fixed investment real estate etc. which need a
long period of time to purchase construct or manufacturing before becoming usable.Period of capitalization
Capitalizing period was from the time star capitalizing until the time of suspended capitalization. The period for
borrowing expenses suspended excluded in the period.Capitalizing for borrowing expenses by satisfying the followed at same time:
(1) Assets expense occurred and paid as expenses in way of cash non-cash assets transfer or debt with interest
taken for purchasing constructing or manufacturing assets that complying with capitalizing condition;
(2) Borrowing expenses have occurred;
(3) Necessary activities occurred for reaching predicted usable statues or sale-able status for assets purchased
constructed or manufactured.If purchasing construction or manufacturing process of an asset satisfying the conditions of capitalization
reached its predicted usable status or sale-able status capitalization suspended for borrowing expenses.Period of suspended
If purchasing construction or manufacturing process of an asset satisfying the conditions of capitalization is
suspended abnormally for over 3 months capitalizing of borrowing expenses shall be suspended; the suspended
assets that satisfying the conditions of capitalization meets the necessary procedure of reaching predicted usable
status or for-sale status capitalizing of borrowing expenses shall be resumed. The borrowing expenses occurred
during the period of suspended shall reckon into current gains and losses until the purchasing construction or
manufacturing process is resumed for capitalizing.Capitalization rate of the borrowing costs measurement of the capitalized amount
As for the special loans borrowed for the purchase construction or production of assets eligible for capitalization
the borrowing costs are capitalized by deducting the actual borrowing costs incurred in current period of special
borrowing the interest income earned by borrowing funds that have not ye been used deposited in the bank or the
investment income obtained from the temporary investment.For the general borrowings used for the acquisition construction or production of assets eligible for capitalization
the amount of borrowing costs that should be capitalized for general borrowings is calculated and determined
according to the weighted average of the asset expenditures of accumulated asset expenditures over the special
164深圳市深粮控股股份有限公司2021年年度报告全文
borrowings multiplying by the capitalization rate of the occupied general borrowings. The capitalization rate is
determined based on the weighted average interest rate of general borrowings.During the capitalization period the exchange difference of the principal and interest of the specialized foreign
currency borrowing is capitalized and included in the cost of the assets that meet the capitalization conditions.Exchange differences arising from the principal and interest of foreign currency borrowings other than specialized
foreign currency borrowing are included in the current profits and losses.
27. Biological assets
(1) The Company's biological assets are productive biological assets which are classified into productive biological
assets consumptive biological assets and biological assets for commonweal according to the purpose of holding
and the way in which economic benefits are realized.
(2) Biological assets are initially measured at cost.
(3) The necessary expenditures incurred by productive biological assets before reaching the intended production
and operation purposes constitute the cost of the productive biological assets. Subsequent expenditures incurred
after achieving the intended production purposes shall be included in the current profit and loss.
(4) The necessary expenditures for consumptive biological assets before closure constitute the cost of consumptive
biological assets and subsequent expenditures incurred after closure are included in the current profit and loss.The consumptive biological assets are carried at cost when harvested using the proportional method of
accumulation.
(5) The Company’s biological assets are mainly tea trees. The company’s productive biological assets that achieve
the intended production and operation purposes are depreciated according to the average service life method and
the service life is determined as the remaining period of land use after deducting the immature tea tree period (5
years) the residual value rate is 5%. At the end of each year the company reviews the service life expected net
residual value and depreciation methods. If the service life and expected net output value are different from the
original estimate or there is a significant change in the realization of economic benefits it will be used as an
accounting estimate change to adjust the service life or estimated net output value or change the depreciation
method.
165深圳市深粮控股股份有限公司2021年年度报告全文
(6)Biological assets for commonweal refer to biological assets whose main purpose is protection and
environmental protection including wind-breaking and sand-fixing forests soil and water conservation forests
and water conservation forests.The cost of self-constructed biological assets for commonweal shall be determined in accordance with the
necessary expenditures such as cost of planting tending fees forest protection fees forest culture and management
facility fees improved seed experiment fees survey design fees and indirect costs that should be apportioned
before the closure including borrowing costs that meet the conditions for capitalization.Biological assets for commonweal are subsequently measured at cost. There is no need to withdraw the asset
impairment reserve for biological assets for commonweal.
(7)The balance of the disposal consideration from the sale inventory loss death or damage of biological assets
after deducting the book value and relevant taxes shall be included in the current profit and loss.
28. Oil and gas assets
29. Right-of-use assets
30. Intangible assets
(1) Measurement use of life and impairment testing
Measurement
(1)Initial measurement is made at cost when the Company acquires intangible assets;
For those intangible assets purchased from outside the purchase value relevant taxes and other payments
attributable to predicted purpose obtained should recognized as cost for this assets.
(2)Subsequent measurement
Analyzing and judging the service life of an intangible asset when they are acquired.Those intangible assets with limited useful life are evenly amortized on straight basis from the date when they
become usable to the end of expected useful life;Intangible assets for which it is impossible to predict the term
during which the assets can bring in economic benefits are viewed as intangible assets with indefinite life without
amortization.Estimation of the service life of intangible assets with limited service life
Amortization Residual
Item Predicted useful life Basis
method value rate
Land use right Amortized the actual rest of life after certificate of land Straight-line 0.00% Certificate of land
166深圳市深粮控股股份有限公司2021年年度报告全文
use right obtained method use right
Straight-line 0.00% Protocol agreement
Forest tree use right Service life arranged
method
Straight-line 0.00% Actual situation of
Trademark use right 10-year
method the Company
Shop management Straight-line 0.00% Protocol agreement
Service life arranged
right method
Straight-line 0.00% Protocol agreement
Software use right 5-8 years
method
Straight-line 0.00% Actual situation of
Patents and others 20-year
method the Company
Judgment basis on intangible assets with uncertain service life and review procedures for the service life
Intangible assets for which it is impossible to predict the term during which the assets can bring in economic
benefits are viewed as intangible assets with indefinite life. Intangible assets with indefinite life are not amortized
during the holding period and useful life is re-reviewed at the end of each accounting period. In case that it is still
determined as indefinite after such re-review then impairment test will be conducted continuously in every
accounting period.
(2)Accounting policy of the internal R&D expenditure
Specific criteria for dividing research and development stages
The expenditure for internal R&D is divided into research expenditure and development expenditure.Research stage: stage of the investigation and research activities exercising innovative-ness for new science or
technology knowledge obtained and understanding.Development stage: stage of the activities that produced new or material advance materials devices and products
that by research results or other knowledge adoption in certain plan or design before the commercial production or
usage.Standards for capitalization satisfaction of expenditure in development state
Expenditures in the research phase are included in the current profit and loss when they occur. Expenditures in the
development phase that meet the following conditions at the same time are recognized as intangible assets and
expenditures in the development phase that cannot meet the following conditions are included in the current profit
and loss:
(1) Owes feasibility in technology and completed the intangible assets for useful or for sale;
(2) Owes the intention for completed the intangible assets and for sale purpose;
(3) Way of profit generated including: show evidence that the products generated from the intangible assets owes
a market or owes a market for itself; if the intangible assets will use internally than show evidence of useful-ness;
(4) Possess sufficient technique financial resources and other resources for the development of kind of intangible
167深圳市深粮控股股份有限公司2021年年度报告全文
assets and has the ability for used or for sale;
(5)The expenditure attributable to the exploitation stage for intangible assets could be measured reliably.
If it is not possible to distinguish between research stage expenditures and development stage expenditures all
research and development expenditures incurred are charged to current gain/loss.
31. Impairment of long term assets
The long-term assets as long-term equity investments investment real estate measured at cost fixed assets
construction in progress right-of-use assets intangible assets with certain service life and oil & gas assets are
tested for impairment if there is any indication that an asset may be impaired at the balance date. If the result of
the impairment test indicates that the recoverable amount of the asset is less than its carrying amount a provision
for impairment and an impairment loss are recognized for the amount by which the asset’s carrying amount
exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and
the present value of the future cash flows expected to be derived from the asset. Provision for asset impairment is
determined and recognized on the individual asset basis. If it is not possible to estimate the recoverable amount of
an individual asset the recoverable amount of a group of assets to which the asset belongs is determined. A group
of assets is the smallest group of assets that is able to generate independent cash inflows.For goodwill formed by business combination intangible assets with uncertain service life and intangible assets
that have not yet reached the usable state regardless of whether there are signs of impairment impairment test
shall be carried out at least at the end of each year.When the Company conducts the goodwill impairment test the book value of goodwill formed by business
combination is apportioned to the relevant asset group according to reasonable methods from the date of purchase; if
it is difficult to apportion it to the relevant asset group apportion it to the relevant asset group portfolio. Relevant
asset group or assets portfolio is the asset group or combination of assets group that can benefit from the synergies
of the enterprise merger.When conducting impairment test for relevant asset group with inclusion of goodwill in case that there is
indication of impairment for such asset group impairment test would be firstly conducted in respect of the asset
groups without inclusion of goodwill. Then it shall calculate the recoverable amount and determine the
corresponding impairment loss as compared to its carrying value. Then conduct an impairment test on the asset
group or asset group portfolios containing goodwill and compare their book value with the recoverable amount. If
the recoverable amount is lower than the book value the amount of impairment loss first deducts the book value
of the goodwill allocated to the asset group or asset group portfolio and then deducts the book value of the other
assets in proportion according to the proportion of the book value of the other assets other than goodwill in the
asset group or asset group portfolio. Once recognized asset impairment loss would not be reversed in future
accounting period.
168深圳市深粮控股股份有限公司2021年年度报告全文
32. Long term prepaid expense
Long term prepaid expense represents the expense which the Company has occurred and shall be amortized in the
current and later periods with amortization period exceeding one year. Long-term prepaid expenses of the
Company includes expenditures on improvement of investment real estate decoration fee and expenditure for
fixed assets improvement etc. Long term prepaid expense is amortized during the beneficial period under straight
line method.
33. Contract liabilities
The Company lists contract assets or contract liabilities in the balance sheet based on the relationship between
performance obligations and customer payments. The Company's obligation to transfer goods or provide services
to customers for consideration received or receivable from customers is listed as contract liabilities. Contract
assets and contract liabilities under the same contract are presented in net amount.
34. Staff remuneration
(1)Accounting treatment of short term remuneration
In the period of employee services short-term benefits are actually recognized as liabilities and charged to profit
or loss or relevant assets costs.Regarding to the social insurance and housing funds that the Company paid for employees the Company should
recognize corresponding employees benefits payable according to the appropriation basis and proportion as
stipulated by relevant requirements and recognize the corresponding liabilities.The employee welfare expenses incurred shall be recorded into the current gain/loss or the cost of relevant assets
according to the actual amount when actually incurred and the non-monetary welfare shall be measured at fair
value.
(2)Accounting treatment for post employment benefits
Defined contribution plan
The Company pays basic endowment insurance and unemployment insurance for employees according to the
relevant regulations of the local government. In the accounting period in which employees provide services for the
Company the amount to be paid is calculated according to the local payment base and proportion and is
recognized as a liability and included in current profit and loss or related asset cost. In addition the Company also
participates in the enterprise annuity plan/supplementary pension insurance fund approved by the relevant state
departments. The Company pays a certain percentage of the total wages of employees to the annuity plan/local
169深圳市深粮控股股份有限公司2021年年度报告全文
social insurance agency and the corresponding expenditures are included in the current profit and loss or the cost
of related asset.Defined benefit plan
The Company assigns the benefit obligation arising from the defined benefit plan to the period during which the
employee provides service according to the formula determined by the expected accumulated benefit unit method
and includes it in the current profit and loss or related asset cost.The deficit or surplus formed by the present value of the defined benefit plan obligation minus the fair value of the
defined benefit plan asset is recognized as a net benefit or net asset of the defined benefit plan. If there is a surplus in
the defined benefit plan the Company measures the net assets of the defined benefit plan by the lower of the surplus
and the asset limit of the defined benefit plan.All defined benefit plan obligations including obligations expected to be paid within twelve months of the end of
the annual reporting period in which the employee provides services are discounted based on the market return of
the national debt matching with the defined benefit plan obligations deadline and currency or the high quality
corporation bonds in an active market on the balance sheet date.The service cost generated by the defined benefit plan and the net liabilities or the net interest of the net assets of the
defined benefit plan are included in the current profit and loss or the related assets cost; the changes generated by the
remeasurement of net liabilities or net assets of the defined benefit plan are included in other comprehensive income
and will not be transferred back to profit or loss in the subsequent accounting period when the original defined
benefit plan is terminated the part that was originally included in other comprehensive income will be carried
forward to undistributed profit within the scope of equity.When settling the defined benefit plan the settlement gain or loss is confirmed by the difference between the present
value of the defined benefit plan obligation and the settlement price determined on the settlement date.
(3)Accounting treatment for dismissal benefit
If the Company provides dismissal benefits to employees the employee compensation liabilities arising from
dismissal benefits shall be recognized on the earlier date of the following two and shall be included in the current
profit and loss: When the company cannot unilaterally withdraw the dismissal benefits provided by the dismissal
plan or downsizing proposal; When the company confirms the costs or expenses related to the reorganization
involving the payment of dismissal benefits.
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(4)Accounting treatment for other long term staff benefits
35. Lease liability
36. 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 shall conduct initial measurement by best estimation of expenditures needed by fulfillment of
current responsibilities.While determined the best estimation take the risks uncertainty and periodic value of currency that connected to
the contingent issues into consideration. For major influence from periodic value of currency determined best
estimation after discount on future relevant cash out-flow.Where there is a continuous range of required expenditures and the probability of occurrence of various results
within this range is the same the best estimate is determined according to the median value in the range; in other
cases the best estimate shall be treated as follows:
* If a contingency involves a single item it shall be determined according to the amount most likely to occur.* If a contingency involves multiple items it shall be determined in accordance with various possible outcomes
and related probability calculation.If all or part of the expenditure required to pay off the estimated liabilities is expected to be compensated by a
third party the compensation amount shall be separately recognized as an asset when it is basically certain that it
can be received and the recognized compensation amount shall not exceed the book value of the estimated
liability.The Company reviews the book value of estimated liabilities on the balance sheet date. If there is conclusive
evidence that the book value does not reflect the current best estimate the book value will be adjusted according
to the current best estimate.
37.Share-based payment
The Company’s share-based payment is a transaction that grants equity instruments or assumes liabilities
171深圳市深粮控股股份有限公司2021年年度报告全文
determined based on equity instruments in order to obtain services from employees or other parties. The
Company’s share-based payment is divided into equity-settled share-based payment and cash-settled share-based
payment.Equity-settled share-based payments and equity instruments
The equity-settled share-based payment in exchange for services provided by employees shall be measured at the
fair value of equity instruments granted to employees. For share-based payment transactions that can be exercised
immediately after the grant the fair value of the equity instrument is included in the relevant cost or expenses on
the grant date and the capital reserve is increased accordingly. For share-based payment transactions that can be
exercised only after completing the services during the waiting period or meeting the specified performance
conditions after the grant on each balance sheet date during the waiting period the Company shall include the
services obtained in the current period in the relevant cost or expenses based on the best estimate of the number of
viable equity instruments and the fair value on the grant date and increase the capital reserve accordingly.If the terms of the equity-settled share-based payment are modified at least the services acquired are recognized
as if the terms were not modified. In addition any modification that increases the fair value of the granted equity
instruments or a change in favor of the employee on the modification date is recognized as an increase in
services received.During the waiting period if the granted equity instrument is cancelled the Company will treat the cancelled
granted equity instrument as an accelerated exercise and immediately include the amount that should be recognized
during the remaining waiting period in the current profit and loss and recognize the capital reserve at the same time.However if a new equity instrument is granted and it is determined that the new equity instrument granted is to
replace the cancelled equity instrument on the grant date of the new equity instrument then in the same manner as
the modification of the terms and conditions of the original equity instrument the granted alternative equity
instruments are processed.Cash-settled share-based payments and equity instruments
The cash-settled share-based payment shall be measured at the fair value of the liabilities calculated and
determined on the basis of shares or other equity instruments undertaken by the Company. For share-based
payment transactions that can be exercised immediately after the grant the Company shall include them in the
relevant cost or expenses at the fair value of the liabilities on the grant date and increase the liabilities accordingly.For share-based payment transactions that can be exercised only after completing the service during the waiting
period or meeting the specified performance conditions on each balance sheet date during the waiting period the
Company shall include the services obtained in the current period in the relevant cost or expenses based on the
best estimate of the viable equity instruments and the fair value of the liabilities undertaken by the Company and
include in the liabilities accordingly. On each balance sheet date and settlement date before the settlement of
relevant liabilities the fair value of the liabilities is re-measured and the changes are included in the current profit
and loss.
38. Other financial instrument of preferred stocks and perpetual bond
Disclosure requirements: Describe the accounting treatment of other financial instruments such as preferred stock
172深圳市深粮控股股份有限公司2021年年度报告全文
and perpetual bond
The Company categorizes a financial instrument or its components as a financial asset a financial liability or an
equity instrument at the time of initial recognition based on the contractual terms of preferred stocks/perpetual
bonds issued and the economic substance it reflects not just in legal form.When a financial instrument such as perpetual bonds/preferred stocks issued by the Company meet one of the
following conditions the entire financial instrument or its components shall be classified as a financial liability at
the time of initial recognition.
(1) There are contractual obligations that the Company cannot unconditionally avoid fulfilling with the cash
payment or other financial assets;
(2) Contains contractual obligation to deliver variable amounts of own equity instruments for settlement;
(3) Contains derivative instrument that is settled with its own equity (such as conversion of equity etc.) and the
derivative instrument is not settled with a fixed amount of their own equity instruments in exchange for a fixed
amount of cash or other financial assets;
(4) There are contract clauses that indirectly form contract obligations;
(5) The perpetual bonds are in the same repayment order as the ordinary bonds and other debts issued by the
issuer at the time of liquidation by the issuer.For financial instruments such as perpetual bonds/preferred stocks that do not meet any of the above conditions
classify the financial instruments as a whole or their components as equity instruments at the time of initial
recognition.
39. Revenue
Accounting policy used for revenue recognition and measurement
The Company fulfills the performance obligations in the contract that is revenue is recognized when the
customer obtains control of the relevant goods or services. Obtaining control of related goods or services means
being able to lead the use of the goods or services and obtain almost all of the economic benefits from them.If the contract contains two or more performance obligations the Company will allocate the transaction price to
each individual performance obligation in accordance with the relative proportion of the stand-alone selling price
of the goods or services promised by each individual performance obligation on the starting date of the contract.The Company measures revenue based on the transaction price allocated to each individual performance
obligation.The transaction price refers to the amount of consideration that the Company expects to be entitled to receive due
to the transfer of goods or services to customers excluding payments collected on behalf of third parties and
173深圳市深粮控股股份有限公司2021年年度报告全文
payments expected to be returned to customers. The Company determines the transaction price in accordance with
the terms of the contract and combined with its past customary practices when determining the transaction price
it considers the influence of variable consideration major financing components in the contract non-cash
consideration consideration payable to customers and other factors. The Company determines the transaction
price that includes variable consideration at an amount that does not exceed the amount of accumulated
recognized revenue that is unlikely to be materially reversed when the relevant uncertainty is eliminated. If there
is a significant financing component in the contract the Company determines the transaction price based on the
amount payable in cash when the customer obtains control of the goods or services and uses the actual interest
method to amortize the difference between the transaction price and the contract consideration during the contract
period. (Tips: for the interval between the transfer of control and the payment of the price by the customer does
not exceed one year the enterprise may disregard the financing component thereof. Enterprise should make
disclosure according to the actual situation )
It belongs to the performance obligation fulfilled within a certain period of time when meeting one of the
following conditions otherwise it belongs to the performance obligation fulfilled at a certain point in time:
*The customer obtains and consumes the economic benefits brought by the Company's performance at the same
time as the Company's performance.*Customers can control the products under construction in the Company's performance process.*The products produced by the Company during the performance of the contract have irreplaceable uses and the
Company has the right to collect payment for the accumulated performance part of the contract during the entire
contract period.For performance obligations performed within a certain period of time the Company recognizes revenue
according to the performance progress during that period except where the performance progress cannot be
reasonably determined. The Company considers the nature of the goods or services and adopts the output method
or the input method to determine the progress of performance. When the performance progress cannot be
reasonably determined and the costs incurred are expected to be compensated the Company shall recognize the
revenue according to the amount of the costs incurred until the performance progress can be reasonably
determined.For performance obligations performed at a certain point in time the Company recognizes revenue at the point
when the customer obtains control of the relevant goods or services. When judging whether a customer has
obtained control of goods or services the Company considers the following signs:
*The Company has the current right to collect payment for the goods or services that is the customer has the
current payment obligation for the goods or services.*The Company has transferred the legal ownership of the goods to the customer that is the customer has the legal
ownership of the goods.*The Company has transferred the goods to the customer in kind that is the customer has taken possession of the
goods in kind.*The Company has transferred the main risks and rewards of the ownership of the goods to the customer that is
174深圳市深粮控股股份有限公司2021年年度报告全文
the customer has obtained the main risks and rewards of the ownership of the goods.*The customer has accepted the goods or services etc.Specific principles
(1) Revenue from sales of goods: The realization of sales revenue is recognized after the domestic sales of goods
have been delivered and in compliance with the relevant terms of the contract; for export sales the realization of
sales revenue is recognized after the goods have been delivered and declared to the customs and meet the relevant
terms of the contract.
(2) Income from the provision of labor services: The Company provides the grain and oil dynamic reserve and its
rotation services for the Shenzhen Municipal Government and the income is recognized when the relevant labor
activities occur. Operational Regulations" and "Shenzhen Edible Vegetable Oil Government Reserve Expenses
All-inclusive Operational Regulations" shall be used to calculate and confirm the service income of grain and oil
reserves.
(3) Other income:
1) The amount of income from royalties shall be calculated and determined according to the charging time and
method stipulated in the relevant contracts or agreements.
2) Income from property leasing such as real estate dock warehouses and dock docking business shall be
calculated and confirmed according to the charging time and method agreed in the contract or agreement.Differences in accounting policies of revenue recognition resulted by the different operating models for the same type of business
40. Government subsidy
Types
Governments subsidy of the Company refer to the monetary and non-monetary assets obtained from government
for free and are divided into those related to assets and others related to revenues.Government subsidy related to assets refer to those obtained by the Company and used for purchase or
construction of or otherwise to form long-term assets. Government subsidies related to revenue refer to those
other than government subsidies related to assets.Specific criteria for classifying the government subsidy as asset-related by the Company are:
Specific criteria for classifying the government subsidy as income-related by the Company are:
For those government subsidies without object specified in government documents the Company classifies
government subsidies as asset-related or income-related based on the following judgment:
Disclosure requirement: disclose specific criteria for distinguishing between asset-related government subsidies
and income-related. If the government document does not specify the object of the subsidy it must also state the
basis of judgment for classifying the government subsidy as asset-related or income-related
Recognition time point
If there is evidence at the end of the period that the company can meet the relevant conditions stipulated by the
financial support policy and is expected to receive financial support funds the government subsidy shall be
175深圳市深粮控股股份有限公司2021年年度报告全文
recognized according to the amount receivable. In addition government grants are recognized when they are
actually received.If the government grant is a monetary asset it shall be measured according to the amount received or receivable.If the government grant is a non-monetary asset it shall be measured at its fair value; if the fair value cannot be
obtained reliably it shall be measured at its nominal amount (RMB 1). Government subsidies measured at the
nominal amount are directly included in the current profit and loss.Accounting treatment
Based on the essence of economic business the company determines whether a certain type of government
subsidy business should be accounted for using the gross method or the net method. Normally the company only
selects one method for the same or similar government subsidy business and uses that method consistently for
that business.Category Accounting content
Types of government subsidies accounted for using the gross All government subsidies
method
Government subsidy related to assets is used to offset the book value of related assets or be recognized as deferred
income. If it is confirmed as deferred income it shall be included in the current profit and loss in a reasonable and
systematic way by stages within the useful life of the relevant assets (those related to the Company’s daily
activities are included in other income; those unrelated to the Company’s daily activities are included in the
non-operating income);
Government subsidy related to income that is used to compensate the Company's related costs or losses in
subsequent periods is recognized as deferred income and is included in the current profit and loss during the period
when the related costs or losses are recognized (those related to the Company’s daily activities are included in other
income; those unrelated to the Company’s daily activities are included in the non-operating income) or used to
offset related costs or losses; those used to compensate the Company’s related costs expenses or losses are directly
included in the current profit and loss (those related to the Company’s daily activities are included in other income;
those unrelated to the Company’s daily activities are included in the non-operating income) or used to offset
related costs or losses.The policy-related preferential loan interest discounts obtained by the Company shall be accounted for separately
in the following two situations:
(1)The finance allocates interest discount funds to the lending bank. If the lending bank provides loans to the
Company at a policy-based preferential interest rate the Company will use the actually received loan amount as
the entry value of the loan and calculate related borrowing costs according to the loan principal and the
policy-based preferential interest rate.(Tips: Enterprises can also use the following methods for accounting treatment. If you choose to use the following
methods this paragraph should be changed to the following. In addition the two methods should be used
176深圳市深粮控股股份有限公司2021年年度报告全文
consistently and should not be changed arbitrarily: (1) The finance will allocate the interest discount funds to the
loan bank and the loan bank provides loans to the Company at a policy-oriented preferential interest rate the
Company takes the fair value of the loan as the entry value of the loan and calculates the borrowing costs
according to the actual interest rate method. The difference between the actual amount received and the fair value
of the loan is recognized as deferred income which is amortized using the effective interest rate method during
the duration of the loan to offset relevant borrowing costs.)
(2) If the finance directly allocates interest discount funds to the Company the Company will write down the
relevant borrowing costs with the corresponding interest discount.
41. Deferred income tax assets and deferred income tax liabilities
Income tax includes current income tax and deferred income tax. Except for income tax arising from business
mergers and transactions or events that are directly included in owner's equity (including other comprehensive
income) the Company include current income tax and deferred income tax in current profit and loss.Deferred income tax assets and deferred income tax liabilities are calculated and recognized based on the
difference (temporary difference) between the tax base of assets and liabilities and their book value.Deductible temporary differences recognized by deferred income tax assets is limited to the taxable income that is
likely to be obtained in the future to deduct deductible temporary differences. For the deductible losses and tax
deductions that can be carried forward for subsequent years are limited to the future taxable income that is likely
to be obtained to deduct deductible and tax deductions.For taxable temporary differences except for special circumstances deferred income tax liabilities are recognized.Special circumstances that do not recognize deferred income tax assets or deferred income tax liabilities include:
* Initial recognition of goodwill;
* Transactions or events that neither are a business combination nor affect accounting profits and taxable income
(or deductible losses) when occur.For taxable temporary differences related to investments in subsidiaries associates and joint ventures deferred
income tax liabilities are recognized unless the Company can control the timing of the reversal of the temporary
differences and the temporary differences are not likely to be reversed in the foreseeable future. For deductible
temporary differences related to investments in subsidiaries associates and joint ventures when the temporary
differences are likely to be reversed in the foreseeable future and are likely to be used to deduct the taxable
income of deductible temporary differences in the future recognize deferred income tax assets.On the balance sheet date deferred income tax assets and deferred income tax liabilities are measured at the
applicable tax rate during the period when the relevant assets are expected to be recovered or the relevant
177深圳市深粮控股股份有限公司2021年年度报告全文
liabilities are expected to be paid off in accordance with the provisions of the tax law.On the balance sheet date the Company reviews the book value of deferred income tax assets. If it is probable that
sufficient taxable income cannot be obtained in the future to offset the benefits of deferred income tax assets the
book value of the deferred income tax assets shall be written down. When it is possible to obtain sufficient taxable
income the write-down amount shall be reversed.When there is a statutory right to settle on a net basis and an intention to settle on a net basis or acquire assets and
pay off liabilities at the same time the current income tax assets and current income tax liabilities are presented at
the net amount after offsetting.On the balance sheet date deferred income tax assets and deferred income tax liabilities shall be listed as the net
amount after offset when the following conditions are met at the same time:
* The tax subject has the statutory right to settle current income tax assets and current income tax liabilities on a
net basis;
*Income tax assets and deferred income tax liabilities are related to the income tax levied by the same tax
administration department on the same taxation subject or related to different taxation subjects however in the
period during which each important deferred income tax asset and liability are reversed in the future the taxpayer
involved intends to settle the current income tax assets and liabilities on a net basis or obtain assets and settle
liabilities at the same time.
42. Lease
Accounting treatment of operating leases
(1) Right-of-use assets
On the commencement date of the lease period the Company recognizes right-of-use assets for leases other than short-term leases
and leases of low-value assets. Right-of-use assets are initially measured at cost. This cost includes:
The initial measurement amount of the lease liability;
The lease payment amount paid on or before the start date of the lease period if there is a lease incentive deduct the relevant amount
of the lease incentive already enjoyed;
Initial direct expenses incurred by the company;
The estimated costs incurred by the Company for dismantling and removing the leased assets restoring the site where the leased
assets are located or restoring the leased assets to the state agreed upon in the lease terms but do not include the costs incurred for
the production of inventories.The Company subsequently adopts the straight-line method to depreciate the right-of-use assets. If it can be reasonably determined
that the ownership of the leased asset will be obtained at the expiration of the lease term the company shall accrue depreciation
within the remaining useful life of the leased asset; otherwise the leased asset shall be depreciated within the shorter of the lease
term and the remaining useful life of the leased asset. .The company determines whether the right-of-use asset has been impaired in accordance with the principles described in Note III.
178深圳市深粮控股股份有限公司2021年年度报告全文
(20) Impairment of long-term assets and performs accounting treatment on the identified impairment losses.
(2) Lease liabilities
On the commencement date of the lease term the Company recognizes lease liabilities for leases other than short-term leases and
leases of low-value assets. The lease liability is initially measured at the present value of outstanding lease payments. Lease
payments include:
Fixed payments (including actual fixed payments) if there is a lease incentive deduct the relevant amount of the lease incentive;
Variable lease payments that depend on an index or rate;
The expected payment according to the residual value of the guarantee provided by the company;
The exercise price of the purchase option provided that the company is reasonably certain that the option will be exercised;
Payments for exercising the option to terminate the lease provided that the lease term reflects that the company will exercise the
option to terminate the lease.The company uses the interest rate implicit in the lease as the discount rate but if the interest rate implicit in the lease cannot be
reasonably determined the company's incremental borrowing rate is used as the discount rate.The company calculates the interest expense of the lease liability in each period of the lease term according to the fixed periodic
interest rate and includes it into the current profit and loss or the cost of related assets.Variable lease payments that are not included in the measurement of lease liabilities are included in the current profit and loss or the
cost of related assets when they are actually incurred.After the commencement date of the lease term the Company shall re-measure the lease liabilities and adjust the corresponding
right-of-use assets under the following circumstances. If the book value of the right-of-use assets has been reduced to zero but the
lease liabilities still need to be further reduced the The difference is included in the current profit and loss:
When there is a change in the evaluation results of the purchase option lease renewal option or termination option or the actual
exercise of the aforementioned options is inconsistent with the original evaluation result the company will calculate the lease
payment after the change and the revised discount. Remeasure the lease liability at the present value of the rate calculation;
When the actual fixed payment changes the estimated payable amount of the residual value guarantee changes or the index or ratio
used to determine the lease payment changes the company calculates the present value based on the changed lease payment and the
original discount rate Remeasure the lease liability. However where changes in lease payments result from changes in floating
interest rates a revised discount rate is used to calculate the present value.
(3) Short-term leases and low-value asset leases
The company chooses not to recognize right-of-use assets and lease liabilities for short-term leases and low-value asset leases and
includes the relevant lease payments in the current profit and loss or related asset costs on a straight-line basis over each period of the
lease term. Short-term leases refer to leases with a lease term of not more than 12 months and excluding purchase options on the
commencement date of the lease term. A low-value asset lease refers to a lease with a lower value when a single leased asset is a
brand-new asset. If the company subleases or expects to sublease the leased assets the original lease is not a low-value asset lease.
(4) Lease change
If the lease changes and the following conditions are met at the same time the company will account for the lease change as a
separate lease:
The lease modification expands the scope of the lease by adding the right to use one or more leased assets;
The increased consideration is equivalent to the amount adjusted by the individual price of the expanded part of the lease scope
according to the contract.If the lease change is not accounted for as a separate lease on the effective date of the lease change the company re-allocates the
consideration of the contract after the change re-determines the lease term and calculates the current value based on the lease
payment after the change and the revised discount rate. value to remeasure the lease liability.
179深圳市深粮控股股份有限公司2021年年度报告全文
If the lease change leads to the narrowing of the lease scope or the shortening of the lease term the company will reduce the book
value of the right-of-use asset accordingly and include the relevant gains or losses on partial or complete termination of the lease into
the current profit and loss. If other lease changes result in re-measurement of lease liabilities the Company adjusts the book value of
the right-of-use asset accordingly.
(5) Rent concessions related to COVID-19
For those who adopt the simplified method of rent reduction related to the new crown pneumonia epidemic the company does not
evaluate whether there is a lease change and continues to calculate the interest expense of the lease liability at the same discount rate
as before the reduction and include it in the current profit and loss and continue to use the same discount rate as before the reduction.The right-of-use asset is depreciated using the same method as before. In the event of rent reduction or exemption the company will
treat the reduced rent as the variable lease payment amount. When the original rent payment obligation is relieved by reaching a
concession agreement the discounted amount at the undiscounted or pre-discount discount rate will be used to offset the relevant
asset costs. or expenses and adjust the lease liabilities accordingly; if the rent payment is delayed the company offsets the lease
liabilities recognized in the previous period when the actual payment is made.For short-term leases and low-value asset leases the company continues to include the original contract rent in the cost or expense of
the relevant assets in the same way as before the concession. In the event of rent reduction or exemption the company will treat the
reduced rent as the variable lease payment and write down the relevant asset costs or expenses during the reduction and exemption
period; if the rent payment is delayed the company will recognize the rent payable as payable during the original payment period.When the actual payment is made the payables recognized in the previous period are offset.
43. Other important accounting policy and estimation
44. Changes of important accounting policy and estimation
(1)Changes of important accounting policies
√ Applicable □ Not applicable
Content & reasons Approval procedure Note
Implementation of the Accounting
Implementation of standards by
Standards for Business Enterprise
the Ministry of Finance
No.21- Lease ( Revised in 2018)
Implementation of the "Interpretation
Implementation of standards by
No.14 of Accounting Standards for
the Ministry of Finance
Business Enterprises"
Implementation of the "Notice on Implementation of standards by
Adjusting the Scope of Application of the Ministry of Finance
the Regulations on the Accounting
Treatment of Rent Concessions Related
to the New Coronary Pneumonia
Epidemic"
Implementation of the "Interpretation Implementation of standards by
No.15 of Accounting Standards for the Ministry of Finance
180深圳市深粮控股股份有限公司2021年年度报告全文
Business Enterprises"
(1) Implementation of the Accounting Standards for Business Enterprises No. 21 - Lease ( Revised in 2018)
The Ministry of Finance revised the Accounting Standards for Business Enterprises No. 21 - Lease ("New Lease
Standards" for short) in 2018. The Company has implemented the new lease standards from January 1 2021.According to the revised standards the company chooses not to re-evaluate whether they are leases or include
leases on the first execution date for contracts that already exist prior to the first execution date.The Company acts as the lessee
The Company chooses to adjust the amount of retained earnings and other relevant items in its financial
statements at the beginning of the year of the first implementation of the new lease standards based on the
cumulative impact of the first implementation of the new lease standards without adjusting the comparable period
information.For an operating lease existing prior to the first execution date the Company shall measure the lease liabilities at
the first execution date based on the present value of the remaining lease payment discounted at the incremental
borrowing rate of the Company at the first execution date and measure the right-of-use assets according to one of
the following two ways for each lease:
Assume that the book value of the new lease standards is adopted on the start date of the lease term and the
Company's incremental borrowing rate on the first execution date is used as the discount rate.Make necessary adjustments to the prepaid rent for the amount equal to the lease liability.Tips: Under each lease the enterprise may choose to measure the right-of-use assets according to either of the
above.For operating leases prior to the first execution date the Company may choose one or more of the following
simplified treatments for each lease in conjunction with the above method: tip:enterprise need to be modified
according to the actual situation.
1) The leases completed within 12 months after the first execution date shall be treated as short-term leases;
2) When measuring lease liabilities leases with similar features shall use the same discount rate;
3) The measurement of the right-of-use assets does not include the initial direct cost;
4) Where there is an option to renew or terminate the lease the lease term shall be determined according to the
actual exercise of the option prior to the first exercise and other latest conditions;
5) As an alternative to the impairment test of the right-of-use asset assess whether the contract containing the
lease is a loss contract prior to the first execution date in accordance with the Notes "III (24) Accrual liabilities"
and adjust the right-of-use asset according to the amount of loss provisions recorded in the balance sheet prior to
the first execution date;
181深圳市深粮控股股份有限公司2021年年度报告全文
6) The lease changes occurring before the first execution date shall not be retroactively adjusted and the
accounting treatment shall be conducted in accordance with the final arrangement of lease changes and the new
lease standards.When measuring the lease liability the Company uses the lessee’s incremental borrowing ate as of January 1
2021 (weighted average: 4.15%) to discount the lease payments.
Outstanding minimum lease payments under significant operating lease as disclosed in the consolidate 2520375.75
financial statements as of December 31 2020
Present value of the interest rate discounted at the incremental borrowing rate on January 1 2021 2120031.14
Lease liability under the new leasing standards as of January 1 2021 2120031.14
Difference between the present value of the above discount and the lease liability
For the finance lease existing before the first execution date the Company shall measure the right-of-use assets
and lease liabilities respectively on the first execution date according to the original book value of the finance
lease assets and the finance lease payments payable.The Company acts as the lessor
For the subleases classified as operating leases prior to the first execution date and surviving after the first
execution date the Company will re-evaluate them on the first execution date on the basis of the remaining
contract term and terms of the original lease and the sublease and classify them in accordance with the provisions
of the new lease standards. If they are reclassified as finance leases the Company will treat them as new finance
leases.Except for subleases the Company does not need to adjust the leases on which it is the lessor in accordance with
the new lease standards. The company shall conduct accounting treatment in accordance with the new lease
standards from the first execution date.The main effects of the Company's implementation of the new lease standards on the financial statements are as
follows:
Content and reasons for Approval Statement items affected Impact on the amount on balance as of 1 Jan. 2021
changes in accounting procedure Consolidate Parent company
policies
(1) As a lessee the Implemented Right-of-use assets 2120031.14
adjustment of the in Lease liability 1839885.54
operating leases accordance Non-current liabilities due in
existing before the date with the one year
280145.60
of fist execution Ministry of
Finance
(2) Implementation of the "Interpretation No. 14 of Accounting Standards for Business Enterprises"
182深圳市深粮控股股份有限公司2021年年度报告全文
The Ministry of Finance promulgated the "Interpretation No. 14 of Accounting Standards for Business
Enterprises" (CK[2021] No. 1 hereinafter referred to as "Interpretation No. 14") on February 2 2021 which has
taken effect as of the date of promulgation. The relevant business added from January 1 2021 to the effective date
shall be adjusted according to Interpretation No. 14.* Public-private partnership (PPP) project contracts
Interpretation No. 14 is applicable for the PPP project contracts that meet the "dual features" and "double
controls" described in the interpretation at the same time and makes retroactive adjustment on the relevant PPP
project contracts that have been implemented before December 31 2020 and have not been completed up to the
implementation date where the retroactive adjustment is not feasible the application begins at the beginning of
the earliest period of retroactive adjustment cumulative impact adjusts the retained earnings at the beginning of
the year of the implementation date and other related items in the financial statements and information of
comparable periods shall not be adjusted. The implementation of the provisions does not have a significant impact
on the Company's financial situation and operating results.* Interest rate benchmark reform
Interpretation No. 14 provides a simplified accounting treatment for cases where the basis for determining cash
flows related to financial instrument contracts and lease contracts is changed as a result of the interest rate
benchmark reform.According to the provisions of this interpretation businesses related to the interest rate benchmark reform
occurring before December 31 2020 shall be subject to retroactive adjustment except where retroactive
adjustment is not feasible and there is no need to adjust the data in the previous comparative financial statements.On the implementation date of this interpretation the difference between the original carrying value of financial
assets and financial liabilities and the new carrying value shall be included in the retained earnings or other
comprehensive income at the beginning of the annual reporting period of the implementation date of this
interpretation. The implementation of the provisions does not have a significant impact on the Company's
financial situation and operating results.
(3) Execution of the “Notice on the Adjustment of the Scope of Application of the Provisions on the AccountingTreatment of COVID-19 Related Rent Concessions”
On June 19 2020 the Ministry of Finance issued the "Regulations on Accounting Treatment of Rental
Concessions Related to the COVID-19 Epidemic" (CK (2020) No. 10) and enterprises can choose to adopt
simplified methods for accounting treatments for rent concessions and deferred payment of rents directly caused
by the COVID-19 epidemic that meet the conditions.On May 26 2021 the Ministry of Finance promulgated the Notice on the Adjustment of the Scope of Application
of the Provisions on the Accounting Treatment of COVID-19 Related Rent Concessions (CK [2021] No. 9) which
has taken effective from May 26 2021 the scope of application of COVID-19 pandemic-related rent concessions
183深圳市深粮控股股份有限公司2021年年度报告全文
which are allowed to adopt the simplified method under the Provisions on the Accounting Treatment of
COVID-19 Related Rent Concessions is adjusted from the "the concession applies only to lease payments payable
before 30 June 2021" to "the concession only applies to lease payments payable before 30 June 2022" to "the
concession only applies to lease payments payable before 30 June 2022" and other conditions remain unchanged.The Company has selected the simplified accounting treatment method for all the eligible lease contracts before
the adjustment of scope of application and adopted the simplified accounting treatment method for all the eligible
and similar lease contracts after the adjustment of scope of application(Tip: if not all the nature of the lease
contract treated using the simplified method should also be disclosed however the choice for the simplified
method should be applied consistently to similar leases that qualify before and after the adjustment to the scope of
application of the "Regulations on Accounting Treatment of Rental Concessions Related to the COVID-19
Epidemic" ) and made retroactive adjustment on relevant lease contracts that had adopted lease change for
accounting treatment before the release of the notice but did not adjust the data of the previous comparative
financial statement; The relevant rent concessions incurred between January 1 2021 and the effective date of the
notice of which accounting treatment are not conducted in accordance with the provisions of the notice shall be
adjusted in accordance with the notice.
(4) Implementation of the Interpretation No. 15 of Accounting Standards for Business Enterprises on the related
presentation of funds central management
On December 30 2021 the Ministry of Finance issued the Interpretation No. 15 of Accounting Standards for
Business Enterprises (CK [2021] No. 35 hereinafter referred to as “Interpretation No. 15”) the content of the
“related presentation of funds central management” came into force as of the date of its promulgation and the
financial statement data in the comparable period should be adjusted accordingly.Interpretation No. 15 has explicitly stipulated how the balance involved in the centralized and unified
management of the funds of the parent company and member units through internal settlement centers and finance
companies should be presented and disclosed in the balance sheet. The implementation of this stipulation has not
had a significant impact on the financial condition and operating results of the Company.
184深圳市深粮控股股份有限公司2021年年度报告全文
(2) Changes of important accounting estimate
□ Applicable √ Not applicable
(3)Adjustment on the relevant items of financial statement at beginning of the year when implemented the
new leasing standards since 2021
√ Applicable □ Not applicable
Whether to adjust the items of balance sheet at the beginning of the year
√Yes □No
Consolidate balance sheet
Unit: RMB/CNY
Item 2020-12-31 2021-01-01 Adjustments
Current assets:
Monetary fund 190494225.94 190494225.94
Settlement provisions
Capital lent
Trading financial
160621806.51160621806.51
assets
Derivative financial
assets
Note receivable 2213426.00 2213426.00
Account receivable 198311102.17 198311102.17
Account receivable
financing
Accounts paid in
27136263.8427136263.84
advance
Insurance receivable
Reinsurance
receivables
Contract reserve of
reinsurance receivable
Other account
22631043.6622631043.66
receivable
Including: Interest
receivable
Dividend
185深圳市深粮控股股份有限公司2021年年度报告全文
receivable
Buying back the sale
of financial assets
Inventory 3418328974.27 3418328974.27
Contract asset
Assets held for sale
Non-current asset due
within one year
Other current assets 119750603.31 119750603.31
Total current assets 4139487445.70 4139487445.70
Non-current assets:
Loans and payments
on behalf
Creditors’ investment
Other creditors’
investment
Long-term account
receivable
Long-term equity
73215147.8473215147.84
investment
Other equity
instrument investment
Other non-current
57500.0057500.00
financial assets
Investment real estate 253037899.57 253037899.57
Fix assets 1122692490.55 1122692490.55
Construction in
1045643295.571045643295.57
progress
Productive biological
387694.20387694.20
asset
Oil and gas asset
Right-of-use asset 2120031.14 2120031.14
Intangible assets 599306223.04 599306223.04
Expense on Research
and Development
Goodwill
Long-term expenses 31732325.01 31732325.01
186深圳市深粮控股股份有限公司2021年年度报告全文
to be apportioned
Deferred income tax
41347952.1241347952.12
assets
Other non-current
2476174.332476174.33
assets
Total non-current assets 3169896702.23 3172016733.37 2120031.14
Total assets 7309384147.93 7311504179.07 2120031.14
Current liabilities:
Short-term loans 110318727.12 110318727.12
Loan from central
bank
Capital borrowed
Tradable financial
liability
Derivative financial
liability
Note payable
Account payable 480896517.64 480896517.64
Accounts received in
3376262.663376262.66
advance
Contract liabilities 108975866.82 108975866.82
Selling financial asset
of repurchase
Absorbing deposit and
interbank deposit
Security trading of
agency
Security sales of
agency
Wage payable 260514559.66 260514559.66
Taxes payable 66904735.29 66904735.29
Other account payable 397325719.50 397325719.50
Including: Interest
payable
Dividend
2933690.042933690.04
payable
Commission charge
187深圳市深粮控股股份有限公司2021年年度报告全文
and commission payable
Reinsurance payable
Liability held for sale
Non-current liabilities 104505328.67 280145.60
104225183.07
due within one year
Other current
7250420.687250420.68
liabilities
1540068138.04280145.60
Total current liabilities 1539787992.44
Non-current liabilities:
Insurance contract
reserve
Long-term loans 841864531.75 841864531.75
Bonds payable
Including: preferred
stock
Perpetual
capital securities
1839885.54
Lease liability 1839885.54
Long-term account
16126146.2016126146.20
payable
Long-term wage
payable
Accrual liabilities 3500000.00 3500000.00
Deferred income 100710038.32 100710038.32
Deferred income tax
12150035.1312150035.13
liabilities
Other non-current
liabilities
1839885.54
Total non-current liabilities 974350751.40 976190636.94
2516258774.982120031.14
Total liabilities 2514138743.84
Owners’ equity:
Share capital 1152535254.00 1152535254.00
Other equity
188深圳市深粮控股股份有限公司2021年年度报告全文
instrument
Including: preferred
stock
Perpetual
capital securities
Capital public reserve 1422892729.36 1422892729.36
Less: Inventory shares
Other comprehensive
income
Reasonable reserve
Surplus public reserve 382367575.37 382367575.37
Provision of general
risk
Retained profit 1637536441.03 1637536441.03
Total owner’s equity
attributable to parent 4595331999.76 4595331999.76
company
Minority interests 199913404.33 199913404.33
Total owner’s equity 4795245404.09 4795245404.09
Total liabilities and 7311504179.07 2120031.14
7309384147.93
owner’s equity
Explanation on adjustment
Balance sheet of parent company
Unit: RMB/CNY
Item 2020-12-31 2021-01-01 Adjustments
Current assets:
Monetary fund 5312806.71 5312806.71
Trading financial
621806.51621806.51
assets
Derivative financial
assets
Note receivable
Account receivable 4087681.18 4087681.18
Account receivable
financing
Accounts paid in
189深圳市深粮控股股份有限公司2021年年度报告全文
advance
Other account
892105968.23892105968.23
receivable
Including: Interest
receivable
Dividend
390000000.00390000000.00
receivable
Inventory
Contract asset
Assets held for sale
Non-current asset due
within one year
Other current assets 1497597.50 1497597.50
Total current assets 903625860.13 903625860.13
Non-current assets:
Creditors’ investment
Other creditors’
investment
Long-term account
receivable
Long-term equity
3707714425.093707714425.09
investment
Other equity
instrument investment
Other non-current
financial assets
Investment real estate 16986504.04 16986504.04
Fix assets 33125275.65 33125275.65
Construction in
progress
Productive biological
387694.20387694.20
asset
Oil and gas asset
Right-of-use asset
Intangible assets 12842693.98 12842693.98
Expense on Research
and Development
190深圳市深粮控股股份有限公司2021年年度报告全文
Goodwill
Long-term expenses
1040708.201040708.20
to be apportioned
Deferred income tax
assets
Other non-current
assets
Total non-current assets 3772097301.16 3772097301.16
Total assets 4675723161.29 4675723161.29
Current liabilities:
Short-term loans
Tradable financial
liability
Derivative financial
liability
Note payable
Account payable
Accounts received in
advance
Contract liabilities 411.00 411.00
Wage payable 26535794.31 26535794.31
Taxes payable 2736075.65 2736075.65
Other account payable 45560514.82 45560514.82
Including: Interest
payable
Dividend
2933690.042933690.04
payable
Liability held for sale
Non-current liabilities
due within one year
Other current
liabilities
Total current liabilities 74832795.78 74832795.78
Non-current liabilities:
Long-term loans
Bonds payable
191深圳市深粮控股股份有限公司2021年年度报告全文
Including: preferred
stock
Perpetual
capital securities
Lease liability
Long-term account
payable
Long-term wage
payable
Accrual liabilities 3500000.00 3500000.00
Deferred income
Deferred income tax
liabilities
Other non-current
liabilities
Total non-current liabilities 3500000.00 3500000.00
Total liabilities 78332795.78 78332795.78
Owners’ equity:
Share capital 1152535254.00 1152535254.00
Other equity
instrument
Including: preferred
stock
Perpetual
capital securities
Capital public reserve 3018106568.27 3018106568.27
Less: Inventory shares
Other comprehensive
income
Reasonable reserve
Surplus public reserve 109963147.23 109963147.23
Retained profit 316785396.01 316785396.01
Total owner’s equity 4597390365.51 4597390365.51
Total liabilities and
4675723161.294675723161.29
owner’s equity
Explanation on adjustment
192深圳市深粮控股股份有限公司2021年年度报告全文
(4) Retrospective adjustment of early comparison data description when implemented the new leasing
standards since 2021
□ Applicable √ Not applicable
45. Other
VI. Taxes
1. Type of tax and rate for main applicable tax
Taxes Basis Rate
The output tax is calculated on the basis
of the sales of goods and the taxable
service income calculated according to
VAT the tax law. After deducting the input tax 13.00% 9.00% 6.00% 5.00% 3.00%
amount that is allowed to be deducted in
the current period the difference part is
the value-added tax payable.Calculated according to the actual
Urban maintenance and construction tax 5.00% 7.00%
value-added tax and consumption tax
Enterprise income tax Calculated according to taxable income 25.00% 20.00% 15.00%
Calculated according to the actual
Educational surtax 3.00%
value-added tax and consumption tax
Calculated according to the actual
Local education surcharge 2.00%
value-added tax and consumption tax
Price-based resource tax 1.2 percent of
the remaining value after deducting 20%
Property tax of the original value of the property; 12 1.20% 12.00%
percent of the rental income if levy by
rents.When the property right of the real
property is transferred the contract price
Deed tax 3.00%-5.00%
shall be paid to the owner of the property
right in one lump sum
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% some businesses are tax-free
Shenzhen Hualian Grain and Oil Trading Co. Ltd.(hereinafter referred to
25.00%
as"Hualian Cereals and Oil")
193深圳市深粮控股股份有限公司2021年年度报告全文
Shenzhen Flour Co. Ltd(hereinafter referred to as"Shenzhen Flour") Tax-free
Shenliang Quality Inspection Co. Ltd. (hereinafter referred to as"Quality
25.00%
Inspection")
Hainan Shenliang Oil & Food Co. Ltd. (hereinafter referred to as"Hainan
20.00%
Oil & Food")
Shenzhen Shenliang Doximi Business Co. Ltd. (hereinafter referred to
25.00%
as"Doximi ")
Shenzhen Shenliang Big Kitchen Food Supply Chain Co. Ltd(hereinafter
25.00%
referred to as"Big Kitchen")
Shenzhen Shenliang Storage (Yingkou) Co. Ltd(hereinafter referred to
25.00%
as"Yingkou Storage")
Shenzhen Shenliang Cold Chain Logistics Co. Ltd.(hereinafter referred to
15.00%
as"Cold Chain Logistics")
Shenzhen Shenliang Property Development Co. Ltd.(hereinafter referred to
25.00%
as"Shenliang Property")
Shenzhen Shenliang Property Management Co. Ltd. (hereinafter referred to
20.00%
as"Shenliang Property")
Dongguan Shenliang Logistics Co. Ltd.(hereinafter referred to
25.00%
as"Dongguan Logistics")
Dongguan International Food Industrial Park Development Co.
25.00%
Ltd.(hereinafter referred to as"International Food")
Dongguan Shenliang Oil & Food Trade Co. Ltd.(hereinafter referred to
25.00%
as"Dongguan Oil & Food")
Shuangyashan Shenliang Zhongxin Cereals Base Co. Ltd. (hereinafter
25.00%
referred to as"Shuangyashan ")
Heilongjiang Hongxinglong Nongken Shenxin Cereals Industrial Park Co.
25.00%
ltd.(hereinafter referred to as"Hongxinglong")
Shenzhen Shenbao Huacheng Technology Co. Ltd. (hereinafter referred to
15.00%
as"Shenbao Huacheng ")
Wuyuan Ju Fang Yong Tea Industry Co. Ltd(hereinafter referred to
15.00%
as"Wuyuan Ju Fang Yong")
Shenzhen Shenshenbao Investment Co. Ltd(hereinafter referred to
25.00%
as"Shenshenbao Investment ")
Shenzhen Shenshenbao Tea Culture Commercial Management Co.
25.00%
Ltd.(hereinafter referred to as"Shenbao Tea Culture")
Hangzhou Ju Fang Yong Holding Co. Ltd(hereinafter referred to as"Ju Fang
25.00%
Yong Holding")
Hangzhou Ju Fang Yong Trading Co. Ltd. (hereinafter referred to as"Ju 25.00%
194深圳市深粮控股股份有限公司2021年年度报告全文
Fang Yong Trading ")
Hangzhou Fuhaitang Catering Management Chain Co. Ltd. (hereinafter
25.00%
referred to as"Fuhaitang Catering")
Dongguan Shenliang Hualian Cereals and Oil Trading Co. Ltd(hereinafter
25.00%
referred to as“Dongguan Hualian”)
Mount Wuyi Shenbao Rock Tea Co. Ltd.(hereinafter referred to as"Shenbao
25.00%
Rock Tea")
Yunnan Shenbao Pu’er Tea Supply Chain Management Co. Ltd.(hereinafter
25.00%
referred to as"Pu’er Tea Supply Chain")Shenzhen Shenliang Food Co. Ltd.(hereinafter referred to as“Shenzhen
25.00%Shenliang Food ”)
Yunnan Pu’er Tea Trading Center Co. Ltd.(hereinafter referred to as"Pu’er
25.00%
Tea Trading Center")
Huizhou Shenbao Food Co. Ltd.(hereinafter referred to as"Huizhou
25.00%
Shenbao Food ")
Huizhou Shenbao Technology Co. Ltd.(hereinafter referred to as"Huizhou
25.00%
Shenbao ")
Shenzhen Shenbao Property Management Co. Ltd. (hereinafter referred to
20.00%
as"Shenbao Property ")
Shenzhen Shenbao Technology Center Co. Ltd.(hereinafter referred to
25.00%
as"Shenbao Technology ")
Shenzhen Shenbao Industrial & Trading Co. Ltd(hereinafter referred to
25.00%
as"Shenbao Industrial & Trading")
Shenzhen Shenliang Hongjun Catering Management Co. Ltd.(hereinafter
25.00%
referred to as“Shenliang Hongjun ”)Wuhan Jiacheng Biotechnology Co. Ltd(hereinafter referred to as“Wuhan
15.00%Jiacheng ”)Wuhan Jiacheng Biotechnology Co. Ltd(hereinafter referred to as“Wuhan
25.00%Jiacheng”)Wuhan Hongqu Health Biology Co. Ltd(hereinafter referred to as“Wuhan
25.00%Hongqu”)Macheng Jintian Camellia Oil Co. Ltd.(hereinafter referred to as“Macheng
25.00%Jintian”)
2. Tax preferential
1. VAT discounts and approvalAccording to the “Notice of the Ministry of Finance and the State Administration of Taxation on the IssuesConcerning the VAT Collection and Exemption of Grain Enterprises (CSZ [1999] No. 198)” and “Shenzhen Tax
195深圳市深粮控股股份有限公司2021年年度报告全文Service State Taxation Administration and 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 ruleand enjoys the exemption from VAT. In addition according to the stipulation of the “Announcement of StateAdministration of Taxation on Relevant Management Matters After Clarifying the Cancellation of the Approval ofSome 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 cancelled 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
st
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 December 31 2018 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 preferencesAccording to the stipulations of “Notice of the Ministry of Finance and the State Administration of Taxation onthe Relevant Tax Policies Concerning Some National Reserved Commodities (CS [2019] No. 77)” and
documents of Guangdong Province Department of Finance Guangdong Provincial Taxation Bureau of the State
Administration of Taxation and Guangdong Provincial Food and Material Reserve Bureau (Yue Cai Shui
[2020]No.2 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 up to December 31 2021.
3. Enterprise income tax
(1) On May 27 2021 the general administration 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%
196深圳市深粮控股股份有限公司2021年年度报告全文
(2) On December 23 2021 Shenbao Huacheng a subsidiary of the Company obtained the High-tech Enterprise
Certificate (Certificate No.: GR202144205394) jointly issued by the Shenzhen Science and Technology Bureau
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 2021 to 2024.
(3) On November 3 2021 Wuyuan Jufangyong a subsidiary of the Company obtained the High-tech Enterprise
Certificate (Certificate No.: GR202136000731) 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 Jufangyong will enjoy the preferential
tax policy from 2021 to 2024.
(4) On November 15 2019 Wuhan Jiacheng a subsidiary of the Company obtained the High-tech Enterprise
Certificate (Certificate No.: GR201942000977) jointly issued by the Department of Science and Technology of
Hubei Province the Hubei Provincial Department of Finance of Hubei Province and the Hubei 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. Wuhan Jiacheng enjoys the
preferential tax policy from 2019 to 2022.
(5) 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.
(6) Shenzhen Flour a subsidiary of the Company is a flour primary processing enterprise according to thestipulations of the “Notice on Issuing the Scope (Trial) of Primary Processing of Agricultural Products Applicableto the Corporate Income Tax Preferential Policy (CS [2008] No. 149)” and the “Supplementary Notice on theScope of Primary Processing of Agricultural Products Applicable to the Corporate Income Tax Preferential Policyof the Ministry of Finance and the State Administration of Taxation” (CS [2011] No. 26) the wheat primary
processing is exempt from income tax.
197深圳市深粮控股股份有限公司2021年年度报告全文
(7) According to Article II of the "Notice of the State Taxation Administration and Ministry of Finance on the
Implementation of Inclusive Tax Relief Policies for Small and Micro Enterprises" (CS[2029] No. 13) the portion
of the annual taxable income of small low-profit enterprises that does not exceed 1 million yuan will be included
in the taxable income by 25% and the corporate income tax will be paid at a tax rate of 20%. The portion of the
annual taxable income of small low-profit enterprises exceeding 1 million yuan but not exceeding 3 million yuan
will be included in the taxable income by 50% and the corporate income tax will be paid at a tax rate of 20%. On
March 31 2021 the Ministry of Finance and the State Taxation Administration issued Announcement No. 12 of
2021 for the part of the annual taxable income of small and low-profit enterprises not exceeding one million yuan
on the basis of the preferential policies stipulated in Article 2 of the Notice of the Ministry of Finance and the
State Taxation Administration on Implementing Inclusive Tax Reduction and Exemption Policies for Small and
Micro Enterprises (CS[2019] No. 13) the corporate income tax shall be halved; Hainan Cereals and Oils
Shenliang Property and Shenbao Property as the Company’s subsidiaries are small and low-profit enterprises
and are eligible for tax preference.
3. Other
VII. Annotation to main items of consolidated financial statements
1. Monetary funds
Unit: RMB/CNY
Item Ending balance Opening balance
Cash on hand 29370.19 62642.11
Cash in bank 49173812.84 189169821.01
Other monetary fund 1206740.62 1261762.82
Total 50409923.65 190494225.94
Other explanation
2. Trading financial assets
Unit: RMB/CNY
Item Ending balance Opening balance
Financial assets measured by fair value and
with variation reckoned into current 211060770.50 160621806.51
gains/losses
Including:
Equity investment instrument 921099.27 621806.51
198深圳市深粮控股股份有限公司2021年年度报告全文
Structured financial products 210139671.23 160000000.00
Including:
Total 211060770.50 160621806.51
Other explanation:
3. Derivative financial assets
Unit: RMB/CNY
Item Ending balance Opening balance
Other explanation:
4. Note receivable
(1) Category
Unit: RMB/CNY
Item Ending balance Opening balance
Bank acceptance bill 687242.00 2213426.00
Total 687242.00 2213426.00
Unit: RMB/CNY
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book Book
Accrual Accrual
Amount Ratio Amount value Amount Ratio Amount value
ratio ratio
Including:
Including:
Bad debt provision accrual on single basis:
Unit: RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio Accrual causes
Bad debt provision accrual on portfolio:
Unit: RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio
Explanation on portfolio determines:
If the provision for bad debts of note receivable is made in accordance with the general model of expected credit losses please refer to
the disclosure of other account receivables to disclose related information about bad-debt provisions:
□ Applicable √Not applicable
199深圳市深粮控股股份有限公司2021年年度报告全文
(2) Bad debt provision accrual collected or reversal in the period
Bad debt provision accrual in the period:
Unit: RMB/CNY
Amount changed in the period
Category Opening balance Collected or Ending balance
Accrual Written-off Other
reversal
Including major amount bad debt provision that collected or reversal in the period:
□ Applicable √Not applicable
(3) Note receivable that pledged at period-end
Unit: RMB/CNY
Item Amount pledged at period-end
(4) Notes endorsement or discount and undue on balance sheet date
Unit: RMB/CNY
Item Amount derecognition at period-end Amount not derecognition at period-end
(5) Notes transfer to account receivable due for failure implementation by drawer at period-end
Unit: RMB/CNY
Item Amount transfer to account receivable at period-end
Other explanation
(6) Note receivable actually written-off in the period
Unit: RMB/CNY
Item Amount written-off
Including important note receivable that written-off:
Unit: RMB/CNY
Procedure of Resulted by related
Enterprise Nature Amount written-off Written-off causes
written-off transaction (Y/N)
Explanation on note receivable written-off:
5. Account receivable
(1) Category
Unit: RMB/CNY
200深圳市深粮控股股份有限公司2021年年度报告全文
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Book
Accrual Accrual Book value
Amount Ratio Amount value Amount Ratio Amount
ratio ratio
Account receivable
with bad debt 952310 928625 2368503 9946183 9667523 2786596.5
25.05%97.51%33.33%97.20%
provision accrual on 65.86 61.98 .88 5.19 8.63 6
a single basis
Including:
Account receivable
with single
significant amount 104556 104556 1045562 1045562
2.75%100.00%3.50%100.00%
and withdrawal bad 27.54 27.54 7.54 7.54
debt provision on
single basis
Account receivable
with single minor
amount but with bad 847754 824069 2368503 8900620 8621961 2786596.5
22.30%97.21%29.83%96.87%
debts provision 38.32 34.44 .88 7.65 1.09 6
accrued on a single
basis
Account receivable
with bad debt 284943 426418 2806788 1989361 3411634 19552450
74.95%1.50%66.67%1.71%
provision accrual on 025.46 7.72 37.74 40.29 .68 5.61
portfolio
Including:
14300742641813874291233780341163411996639
Aging portfolio 37.62% 2.98% 41.35% 2.77%
108.067.7220.3431.83.687.15
1419351419359755581075558108.
Other portfolio 37.33% 25.32%
917.4017.408.4646
38017497126728304732983979100086819831110
Total 100.00% 25.55% 100.00% 33.54%
091.3249.7041.6275.4873.312.17
Bad debt provision accrual on single basis:
Unit: RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio Accrual causes
Guangzhou Jinhe Feed Slightly possibly taken
10455627.5410455627.54100.00%
Co. Ltd back
Shenzhen Faqun 4582156.00 4582156.00 100.00% Slightly possibly taken
201深圳市深粮控股股份有限公司2021年年度报告全文
Industry Co. Ltd. back
Li Shaoyu owes for 2929128.53 2929128.53 100.00% Slightly possibly taken
goods back
Zhuhai Doumen Huabi 2396327.14 2396327.14 100.00% Slightly possibly taken
Feed Co. Ltd. back
Chongqing Zhongxing 2354783.30 2354783.30 100.00% Slightly possibly taken
Food Industry Co. back
Ltd.
2591566.65 2591566.65 100.00% Slightly possibly taken
Hengyang Feed factory
back
Sichuan Zhongxing 1698103.22 1698103.22 100.00% Slightly possibly taken
Food Industry Co. back
Ltd.Shenzhen Buji 1534512.45 1534512.45 100.00% Slightly possibly taken
Agricultural Products back
Wholesale Center
Market Xingmin
Commercial Bank
1429745.00 1429745.00 100.00% Slightly possibly taken
Cao Shengyun
back
Huaxing Feed Factory 1290274.22 1290274.22 100.00% Slightly possibly taken
Shunde District back
Foshan City
1059295.90 1059295.90 100.00% Slightly possibly taken
Shanghai office
back
Shenzhen Dihuan 1045356.50 1045356.50 100.00% Slightly possibly taken
Investment back
Development
Company
Other single provision 61864189.41 59495685.53 96.17% Slightly possibly taken
back
Total 95231065.86 92862561.98 -- --
Bad debt provision accrual on single basis:
Unit: RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio Accrual causes
Bad debt provision accrual on portfolio:
Unit: RMB/CNY
Name Ending balance
202深圳市深粮控股股份有限公司2021年年度报告全文
Book balance Bad debt provision Accrual ratio
Aging portfolio 143007108.06 4264187.72 2.98%
Other portfolio 141935917.40
Total 284943025.46 4264187.72 --
Explanation on portfolio determines:
Bad debt provision accrual on portfolio:
Unit: RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio
Explanation on portfolio determines:
If the provision for bad debts of account receivable is made in accordance with the general model of expected credit losses please refer
to the disclosure of other account receivables to disclose related information about bad-debt provisions:
□ Applicable √Not applicable
By account age
Unit: RMB/CNY
Account age Ending balance
Within one year (including 1-year) 281533278.59
1-2 years 3339030.49
2-3 years 1662562.95
Over 3 years 93639219.29
3-4 years 860649.61
4-5 years 669494.34
Over 5 years 92109075.34
Total 380174091.32
(2) Bad debt provision accrual collected or reversal in the period
Bad debt provision accrual in the period:
Unit: RMB/CNY
Amount changed in the period
Category Opening balance Collected or Ending balance
Accrual Written-off Other
reversal
Bad debt
provision accrual 96675238.63 3812676.65 92862561.98
on single basis
Aging portfolio 3411634.68 821342.16 31210.88 4264187.72
Total 100086873.31 821342.16 3812676.65 31210.88 97126749.70
203深圳市深粮控股股份有限公司2021年年度报告全文
Including major amount bad debt provision that collected or reversal in the period:
Unit: RMB/CNY
Enterprise Amount collected or reversal Collection way
Fujian Wuyishan Xingyi Tea Co. Ltd. 3659377.81 Cash
Total 3659377.81 --
(3) Account receivable actually written-off in the period
Unit: RMB/CNY
Item Amount written-off
Including major account receivable written-off:
Unit: RMB/CNY
Procedure of Resulted by related
Enterprise Nature Amount written-off Written-off causes
written-off transaction (Y/N)
Explanation on account receivable written-off:
(4) Top 5 account receivables at ending balance by arrears party
Unit: RMB/CNY
Ending balance of accounts Proportion in total receivables at Bad debt preparation ending
Enterprise
receivable ending balance balance
First 135674000.00 35.69%
Second 10455627.54 2.75% 10455627.54
Third 6674501.60 1.76% 66745.02
Fourth 5823492.36 1.53% 58234.92
Fifth 5514809.21 1.45% 55148.09
Total 164142430.71 43.18%
(5) Assets and liabilities resulted by account receivable transfer and continues involvement
Other explanation:
(6) Account receivable derecognition due to financial assets transfer
6. Account receivable financing
Unit: RMB/CNY
Item Ending balance Opening balance
Changes of account receivable financing and change of fair value in the period
204深圳市深粮控股股份有限公司2021年年度报告全文
□ Applicable √Not applicable
If the impairment provision of account receivable financing is made in accordance with the general model of expected credit losses
please refer to the disclosure of other account receivables to disclose related information about impairment provision:
□ Applicable √Not applicable
Other explanation:
7. Accounts paid in advance
(1) By account age
Unit: RMB/CNY
Ending balance Opening balance
Account age
Amount Ratio Amount Ratio
Within one year 115518972.22 99.68% 26384747.13 97.23%
1-2 years 193952.41 0.17% 616328.73 2.27%
2-3 years 46662.00 0.04% 61695.87 0.23%
Over 3 years 135187.98 0.11% 73492.11 0.27%
Total 115894774.61 -- 27136263.84 --
Explanation on reasons of failure to settle on important account paid in advance with age over one year:
(2) Top 5 account paid in advance at ending balance by prepayment object
Proportion in of total prepayment balance at
Prepaid objects Ending balance
the end of period (%)
First 75889954.06 65.48
Second 12600000.00 10.87
Three 11243360.80 9.70
Fourth 5385000.00 4.65
Fifth 3537864.66 3.05
Total 108656179.52 93.75
Other explanation:
8. Other account receivable
Unit: RMB/CNY
Item Ending balance Opening balance
Other account receivable 32377838.35 22631043.66
Total 32377838.35 22631043.66
205深圳市深粮控股股份有限公司2021年年度报告全文
(1) Interest receivable
1) Category
Unit: RMB/CNY
Item Ending balance Opening balance
2) Significant overdue interest
Unit: RMB/CNY
Whether impairment
Borrower Ending balance Overdue time Overdue causes occurs and its judgment
basis
Other explanation:
3) Accrual of bad debt provision
□ Applicable √Not applicable
(2) Dividend receivable
1) Category
Unit: RMB/CNY
Item (or invested enterprise) Ending balance Opening balance
2) Important dividend receivable with account age over one year
Unit: RMB/CNY
Whether impairment
Item (or invested Reasons for not
Ending balance Account age occurs and its judgment
enterprise) collection
basis
3) Accrual of bad debt provision
□ Applicable √Not applicable
Other explanation:
(3) Other account receivable
1) By nature
Unit: RMB/CNY
206深圳市深粮控股股份有限公司2021年年度报告全文
Nature Ending book balance Opening book balance
Margin and deposit 12323696.08 14965660.96
Other intercourse funds 119880221.09 105459789.74
Total 132203917.17 120425450.70
2) Accrual of bad debt provision
Unit: RMB/CNY
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Bad debt provision Total
losses over next 12 the entire duration (without the entire duration (with
months credit impairment occurred) credit impairment occurred)
Balance on Jan. 1 2021 2380495.42 95413911.62 97794407.04
Balance of Jan. 1 2021
————————
in the period
Current accrual 609963.17 490483.77 1100446.94
Current reversal 264000.00 264000.00
other changes 195224.84 1000000.00 1195224.84
Ending balance 3185683.43 96640395.39 99826078.82
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
By account age
Unit: RMB/CNY
Account age Ending balance
Within one year (including 1-year) 22972995.33
1-2 years 5057158.39
2-3 years 1873375.61
Over 3 years 102300387.84
3-4 years 1832884.33
4-5 years 729168.37
Over 5 years 99738335.14
Total 132203917.17
3) Bad debt provision accrual collected or reversal in the period
Bad debt provision accrual in the period:
Unit: RMB/CNY
207深圳市深粮控股股份有限公司2021年年度报告全文
Amount changed in the period
Opening
Category Collected or Ending balance
balance Accrual Written off Other
reversal
Bad debt
provision accrual 95413911.62 490483.77 264000.00 1000000.00 96640395.39
on single basis
Bad debt
provision accrual 2380495.42 609963.17 195224.84 3185683.43
on portfolio
Total 97794407.04 1100446.94 264000.00 1195224.84 99826078.82
Including major amount with bad debt provision reverse or collected in the period:
Unit: RMB/CNY
Enterprise Amount reversal or collected Collection way
4) Other account receivable actually written-off in the period
Unit: RMB/CNY
Item Amount written-off
Including important other account receivable written-off:
Unit: RMB/CNY
Procedure of Resulted by related
Enterprise Nature Amount written-off Written-off causes
written-off transaction (Y/N)
Explanation on other account receivable written-off:
5) Top 5 other receivables at ending balance by arrears party
Unit: RMB/CNY
Ratio in total
ending balance Ending balance of
Enterprise Nature Ending balance Account age
of other account bad debt reserve
receivables
First Other intercourse Within 1 year over 5
24608742.4618.61%22187644.18
funds years
Second Other intercourse
8326202.63 Over 5 years 6.30% 8326202.63
funds
Three Other intercourse
8285803.57 Over 5 years 6.27% 8285803.57
funds
Fourth Other intercourse
8257311.80 Over 5 years 6.25% 8257311.80
funds
208深圳市深粮控股股份有限公司2021年年度报告全文
Fifth Other intercourse
6397067.59 Over 5 years 4.84% 6397067.59
funds
Total 55875128.05 -- 42.27% 53454029.77
6) Other account receivables related to government grants
Unit: RMB/CNY
Time amount and basis
Enterprise Government grants Ending balance Ending account age
for collection predicted
7) Other receivable for termination of confirmation due to the transfer of financial assets
8) The amount of assets and liabilities that are transferred other receivable and continued to be involved
Other explanation:
9. Inventories
Whether companies need to comply with the disclosure requirements of the real estate industry
No
(1) Category
Unit: RMB/CNY
Ending balance Opening balance
Inventories fall Inventories fall
provision or provision or
Item contract contract
Book balance Book value Book balance Book value
performance performance
costs impairment costs impairment
provision provision
Raw materials 71483882.02 14841005.00 56642877.02 68152781.12 16559251.32 51593529.80
Goods in process 23932099.23 23932099.23 27672374.13 27672374.13
Finished goods 3463256518.48 98441505.32 3364815013.16 3431982588.15 110146694.45 3321835893.70
Revolving
5596700.59966891.964629808.635614055.57887023.204727032.37
material
Goods in transit 5362274.64 5362274.64 7582654.13 7582654.13
Low-value
consumables-pac 4367402.92 4367402.92 4819513.67 4819513.67
kaging
209深圳市深粮控股股份有限公司2021年年度报告全文
Work in
process-outsource 6159701.53 5290502.32 869199.21 5388478.79 5290502.32 97976.47
d
Total 3580158579.41 119539904.60 3460618674.81 3551212445.56 132883471.29 3418328974.27
(2) Inventories fall provision or contract performance costs impairment provision
Unit: RMB/CNY
Current amount increased Current amount decreased
Item Opening balance Reversal or Ending balance
Accrual Other Other
write-off
Raw materials 16559251.32 7076.66 1725322.98 14841005.00
Finished goods 110146694.45 191902627.59 267214.69 203875031.41 98441505.32
Revolving
887023.20132307.1652438.40966891.96
material
Low-value
consumables-pac
kaging
Work in
process-outsource 5290502.32 5290502.32
d
Total 132883471.29 192034934.75 274291.35 205652792.79 119539904.60
(3) Explanation on inventories with capitalization of borrowing costs included at ending balance
(4) Assets unsettled formed by construction contract which has completed at period-end
10. Contract assets
Unit: RMB/CNY
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Amount and reasons for the major changes of book value of contract assets in the period:
Unit: RMB/CNY
Item Amount changed Cause of change
If the bad debt provision of accrual contract is made in accordance with the general model of expected credit losses please refer to the
disclosure of other account receivables to disclose related information about bad debt provision:
□ Applicable √Not applicable
Impairment provision of contract assets in the period
210深圳市深粮控股股份有限公司2021年年度报告全文
Unit: RMB/CNY
Item Current accrual Current reversal Charge off/Written-off Causes
Other explanation:
11. Assets held for sale
Unit: RMB/CNY
Ending book Impairment Ending book Estimated Estimated
Item Fair value
balance provision value disposal cost disposal time
Other explanation:
12. Non-current asset due within one year
Unit: RMB/CNY
Item Ending balance Opening balance
Important creditors’ investment/ other creditors’ investment
Unit: RMB/CNY
Ending balance Opening balance
Item Maturity Maturity
Face value Coupon rate Actual rate Face value Coupon rate Actual rate
date date
Other explanation:
13. Other current assets
Unit: RMB/CNY
Item Ending balance Opening balance
Financial product 10000000.00 10000000.00
Prepayment of taxes 1403832.26 727277.06
Input tax to be deducted 77054152.64 109023326.25
Total 88457984.90 119750603.31
Other explanation:
14. Creditors’ investment
Unit: RMB/CNY
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Important creditors’ investment
211深圳市深粮控股股份有限公司2021年年度报告全文
Unit: RMB/CNY
Ending balance Opening balance
Item Maturity Maturity
Face value Coupon rate Actual rate Face value Coupon rate Actual rate
date date
Accrual of impairment provision
Unit: RMB/CNY
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Bad debt provision Total
losses over next 12 the entire duration (without the entire duration (with
months credit impairment occurred) credit impairment occurred)
Balance of Jan. 1 2021
————————
in the period
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
Other explanation:
15. Other creditors’ investment
Unit: RMB/CNY
Loss
impairment
Change of Accumulated accumulated
Opening Accrual Ending
Item fair value in Cost change of recognized in Note
balance interest balance
the period fair value other
comprehensi
ve income
Important other creditors’ investment
Unit: RMB/CNY
Ending balance Opening balance
Other creditor item Maturity Maturity
Face value Coupon rate Actual rate Face value Coupon rate Actual rate
date date
Accrual of impairment provision
Unit: RMB/CNY
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Bad debt provision Total
losses over next 12 the entire duration (without the entire duration (with
months credit impairment occurred) credit impairment occurred)
Balance of Jan. 1 2021
————————
in the period
212深圳市深粮控股股份有限公司2021年年度报告全文
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
Other explanation:
16. Long-term account receivable
(1) Long-term account receivable
Unit: RMB/CNY
Ending balance Opening balance
Discount rate
Item Bad debt Bad debt
Book balance Book value Book balance Book value interval
provision provision
Impairment of bad debt provision
Unit: RMB/CNY
Phase I Phase II Phase III
Expected credit Expected credit losses for Expected credit losses for
Bad debt provision Total
losses over next 12 the entire duration (without the entire duration (with
months credit impairment occurred) credit impairment occurred)
Balance of Jan. 1 2021
————————
in the period
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √Not applicable
(2) Long-term account receivable derecognition due to financial assets transfer
(3) Assets and liabilities resulted by long-term account receivable transfer and continues involvement
Other explanation
17. Long-term equity investment
Unit: RMB/CNY
Current changes (+-)
Ending
Investm Cash
Openin Other Accrual balance
ent dividen Ending
The g Additio compre of of
Capital gains Other d or balance
investe balance nal hensive impair impair
reducti recogni equity profit Other (book
d entity (book investm income ment ment
on zed change announ value)
value) ent adjustm provisi provisi
under ced to
ent on on
equity issued
I. Joint venture
213深圳市深粮控股股份有限公司2021年年度报告全文
II. Associated enterprise
Shenzh
en
Duoxi
Equity
Investm
33596-5769127826
ent
01.930.6391.30
Fund
Manage
ment
Co.Ltd.Zhuhai
Hengxi
ng Feed 33002 -1467 31534
Industri 039.62 386.85 652.77
al Co.Ltd.Shenlia
ng
Intellig
ent
Wulian
Equity
Investm
ent
262551750328006
Fund
667.9875.17043.15
(Shenz
hen)
Partner
ship
Enterpr
ise
(Limite
d)
Shenzh
en
Shenyu
105975692111167
an Data
838.317.96056.27
Tech.Co.Ltd
214深圳市深粮控股股份有限公司2021年年度报告全文
Shenba
o
Liaoyu
an 57628.Investm 53
ent
Compa
ny
Shenzh
en
Shenba
o
28700
(Xinmi
00.00
n)
Foods
Co.Ltd.*1
Subtota 73215 27529 73490 29276
l 147.84 5.65 443.49 28.53
73215275297349029276
Total
147.845.65443.4928.53
Other explanation
18. Other equity instrument investment
Unit: RMB/CNY
Item Ending balance Opening balance
Itemized the non-tradable equity instrument investment in the period
Unit: RMB/CNY
Causes of those
that designated
Retained earnings measured by fair Cause of retained
transfer from value and with its earnings transfer
Dividend income Cumulative
Item Cumulative gains other variation from other
recognized losses
comprehensive reckoned into comprehensive
income other income
comprehensive
income
Other explanation:
215深圳市深粮控股股份有限公司2021年年度报告全文
19. Other non-current financial assets
Unit: RMB/CNY
Item Ending balance Opening balance
Financial assets measured at fair value and
whose changes are included in the current 57500.00 57500.00
profit and loss
Total 57500.00 57500.00
Other explanation:
20. Investment real estate
(1) Measured at cost
√ Applicable □Not applicable
Unit: RMB/CNY
Item House and building Land use right Construction in progress Total
I. Original book value
1.Opening balance 590440328.15 590440328.15
2.Current amount
increased
(1) Outsourcing
(2) Inventory\fixed
assets\construction in
process transfer-in
(3) Increased by
combination
3.Current amount
7350000.007350000.00
decreased
(1) Disposal
(2) Other transfer-out
Transferred into fixed
7350000.007350000.00
assets
4.Ending balance 583090328.15 583090328.15
II. Accumulated
depreciation and
accumulated
amortization
216深圳市深粮控股股份有限公司2021年年度报告全文
1.Opening balance 337402428.58 337402428.58
2.Current amount
16099076.0816099076.08
increased
(1) Accrual or
16099076.0816099076.08
amortization
3.Current amount
3507875.003507875.00
decreased
(1) Disposal
(2) Other transfer-out
Transferred into fixed
3507875.003507875.00
assets
4.Ending balance 349993629.66 349993629.66
III. Impairment provision
1.Opening balance
2.Current amount
increased
(1) Accrual
3. Current amount
decreased
(1) Disposal
(2) Other transfer-out
4.Ending balance
IV. Book value
1.Ending book value 233096698.49 233096698.49
2. Opening book value 253037899.57 253037899.57
(2) Measure on fair value
□ Applicable √Not applicable
(3) Investment real estate without property certificate completed
Unit: RMB/CNY
Item Book value Reasons
Other explanation
217深圳市深粮控股股份有限公司2021年年度报告全文
21. Fixed assets
Unit: RMB/CNY
Item Ending balance Opening balance
Fixed assets 2124725043.92 1122692490.55
Fixed Assets Liquidation 3106105.27
Total 2127831149.19 1122692490.55
(1) Fixed assets
Unit: RMB/CNY
Machinery Electronic and other
Item House and buildings Transport equipment Total
equipment equipment
I. Original book
value:
1.Opening balance 1039002914.64 532316124.36 17662383.74 68287685.82 1657269108.56
2.Current 846343800.46 229191092.20 3500298.15 28153146.23 1107188337.04
amount increased
(1)Purchase 23698673.37 638299.87 19696486.01 44033459.25
(2) Construction in
812217492.93199550530.321504401.061013272424.31
progress transfer-in
(3) Increased by
26776307.535941888.512861998.28428521.7036008716.02
combination
(4) Investment
7350000.007350000.00
properties transfer-in
(5) Long-term 6523737.46 6523737.46
prepaid expenses
transfer-in
3.Current 19582725.05 34230430.86 586965.42 2547991.76 56948113.09
amount decreased
(1) Disposal or
19582725.0534230430.86586965.422547991.7656948113.09
scrap
4.Ending balance 1865763990.05 727276785.70 20575716.47 93892840.29 2707509332.51
II. Accumulated
depreciation
1.Opening balance 217598012.04 255179025.46 12517697.64 44323543.85 529618278.99
2.Current amount
45734901.5931885917.133612055.6810979162.8092212037.20
increased
218深圳市深粮控股股份有限公司2021年年度报告全文
(1) Accrual 35365623.11 27805037.15 1336270.82 10621237.71 75128168.79
(2) Increased
6861403.484080879.982275784.86357925.0913575993.41
by combination
（3）Transfer to
investment 3507875.00 3507875.00
properties
3.Current amount
10380298.5629461600.14551802.951475279.6641868981.31
decreased
(1) Disposal or
10380298.5629461600.14551802.951475279.6641868981.31
scrap
4.Ending balance 252952615.07 257603342.45 15577950.37 53827426.99 579961334.88
III. Impairment
provision
1.Opening balance 689332.71 4259116.44 9889.87 4958339.02
2.Current amount
increased
3.Current amount
689332.711446052.602135385.31
decreased
(1) Disposal or
689332.711446052.602135385.31
scrap
4.Ending balance 2813063.84 9889.87 2822953.71
IV. Book value
1.Ending book
1612811374.98466860379.414997766.1040055523.432124725043.92
value
2. Opening book
820715569.89272877982.465144686.1023954252.101122692490.55
value
(2) Temporarily idle fixed assets
Unit: RMB/CNY
Accumulated Impairment
Item Original book value Book value Note
depreciation provision
(3) Fixed assets leased out by operation
Unit: RMB/CNY
Item Ending book value
219深圳市深粮控股股份有限公司2021年年度报告全文
(4) Fix assets without property certification held
Unit: RMB/CNY
Reasons for without the property
Item Book value
certification
House buildings 600461957.98 Still under processing
House buildings 87483575.16 Still under processing
At present the relevant application and
House buildings 15031115.72
approval procedures are being started.Other explanation
(5) Fixed assets disposal
Unit: RMB/CNY
Item Ending balance Opening balance
Pending 3106105.27
Total 3106105.27
Other explanation
22. Construction in progress
Unit: RMB/CNY
Item Ending balance Opening balance
Construction in progress 207946539.97 1045643295.57
Total 207946539.97 1045643295.57
(1) Construction in progress
Unit: RMB/CNY
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Shenbao Plaza
3842333.643842333.643842333.643842333.64
project
Dongguan
grain storage
and wharf 138980117.20 138980117.20 266376815.54 266376815.54
matching
project
220深圳市深粮控股股份有限公司2021年年度报告全文
Deep
processing of
Dongguan 824660.05 824660.05 513729.78 513729.78
Industry and
Trading Food
CDE storage of
Dongguan
Food Industrial 1953288.69 1953288.69 720076609.48 720076609.48
Park and wharf
mating projects
Grain storage
43334291.0443334291.04
and processing
Water Leakage
Project of
2763915.812763915.81
Pinghu
Reservoir
Shuguang
Warehouse No.
3 & No. 6
1992099.161992099.16
Refrigeration
Reconstruction
Project
Renovation of
supporting
loading and
unloading 1169025.00 1169025.00
facilities in
Pinghu
Reservoir
Cold chain
intelligent 3645282.94 3645282.94 3645282.94 3645282.94
system
Other 6016576.13 903189.74 5113386.39 6674716.56 903189.74 5771526.82
Pinghu Grain
Depot Phase III
Low
Temperature
Rice 8584169.91 8584169.91
Warehouse
Expansion and
Reconstruction
Project-L2
221深圳市深粮控股股份有限公司2021年年度报告全文
Pinghu Grain
Depot Phase III
Low
Temperature
Rice 7637139.21 7637139.21
Warehouse
Expansion and
Reconstruction
Project-L4
Far-reaching
data technology
smart logistics
park 1587200.00 1587200.00
management
platform
project
Installation
Project/Phase I
Project 11405601.69 11405601.69
(Shuangya
Mountain)
Warehouse No.
6 Smart
Warehouse 1175982.45 1175982.45
Renovation
Project
Jiangxia Base
27039711.4427039711.44
Project
1050388818.1045643295.
Total 212692063.35 4745523.38 207946539.97 4745523.38
9557
(2) Changes of major construction in progress
Unit: RMB/CNY
Includi
Propor Accum
Curren ng: Interes
Other tion of ulated
Openi t Transf amoun t
decrea Ending project capital Capital
ng amoun er-in Progre t of capital
Item Budget sed in balanc invest ization resour
balanc t fixed ss capital ization
the e ment of ces
e increas assets ization rate in
Period in interes
ed of Period
budget t
interes
222深圳市深粮控股股份有限公司2021年年度报告全文
t in
Period
Dongg
uan
grain Financ
storag 1242 26637 50374 17321 13898 34894 ial
455876.7776.772658
e and 00000 6815. 795.8 2723. 0117. 934.2 4.90% Institut
770.96%%027.56
wharf 0.00 54 2 20 20 0 ion
matchi Loans
ng
project
Deep
proces
sing of Financ
Dongg 29200 ial
5137249393183008246642.0042.004812
uan 0000. Institut
9.780.270.000.05%%867.06
Industr 00 ion
y and Loans
Tradin
g Food
CDE
storag
e of
Dongg
uan
Financ
Food
1087 72007 84629 80275 86730 13883 ial
Industr 1953 98.45 98.45
30000 6609. 103.3 2424. 568.7 199.7 4.90% Institut
ial 288.69 % %
0.00 48 9 18 4 6 ion
Park
Loans
and
wharf
mating
project
s
2621986961354997614141751264316541
4558
Total 30000 7154. 7829. 8147. 8065. -- -- 8370. 227.3 --
770.96
0.0080483894002
(3) The provision for impairment of construction in progress
Unit: RMB/CNY
Item Amount accrual in the period Reasons of accrual
Other explanation
223深圳市深粮控股股份有限公司2021年年度报告全文
(4) Engineering material
Unit: RMB/CNY
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Other explanation:
23. Productive biological asset
(1) Measured by cost
√ Applicable □Not applicable
Unit: RMB/CNY
Item Plant Livestock Forestry Fisheries Total
I. Original book
value
1.Opening balance 416771.28 416771.28
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 29077.08 29077.08
2.Current amount
9692.409692.40
increased
(1)Accrual 9692.40 9692.40
224深圳市深粮控股股份有限公司2021年年度报告全文
3.Current amount
decreased
(1)Disposal
(2)Other
4.Ending balance 38769.48 38769.48
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
1.Ending book
378001.80378001.80
value
2. Opening book
387694.20387694.20
value
(2) Measured by fair value
□ Applicable √Not applicable
24. Oil and gas asset
□ Applicable √Not applicable
25. Right-of-use asset
Unit: RMB/CNY
Item House building Land use rights Total
I. Original book value
225深圳市深粮控股股份有限公司2021年年度报告全文
1.Opening balance 216718.43 1903312.71 2120031.14
2.Current amount
114046628.53114046628.53
increased
New leasing 114046628.53 114046628.53
3.Current amount decreased
4.Ending balance 114263346.96 1903312.71 116166659.67
II. Accumulated depreciation
1.Opening balance
2.Current amount
18280071.52237914.0918517985.61
increased
(1) Accrual 18280071.52 237914.09 18517985.61
3.Current amount
decreased
(1) Disposal
4.Ending balance 18280071.52 237914.09 18517985.61
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 95983275.44 1665398.62 97648674.06
2. Opening book value 216718.43 1903312.71 2120031.14
Other explanation:
226深圳市深粮控股股份有限公司2021年年度报告全文
26. Intangible assets
(1) Intangible assets
Unit: RMB/CNY
Non-pate
Software
Land use nt Trademar Forest use Shop use
Item Patent usage Other Total
right technolog k rights rights rights
rights
y
I.Original
book
value
63343764724591184073.340593812285910753778436104877554688
1.Openin
30.198.8926.244.98.90.3715.89
g balance
2.Current 1937731 1426310 1368363 4732406
amount 7.14 6.08 7.74 0.96
increased
124200713683632619895
(1)95247.35
2.067.747.15
Purchase
1843034.01843034.0
(2)
22
internal
R&D
(3)
Increased 1928206 1928206
by 9.79 9.79
combinati
on
3.Current 1331766 1333335
15690.33
amount 5.00 5.33
decreased
13317661333335
(1)15690.33
5.005.33
Disposal
227深圳市深粮控股股份有限公司2021年年度报告全文
Other
54841231.21221422.
63949724724591184073.3228591036104877894595
4.Ending 99 64
82.338.8924.98.3721.52
balance
II.Accumula
ted
depreciati
on
10042432767368122782.689149876171914475392414173171494789
1.Openin
58.422.230.85.32.80.2167.43
g balance
2.Current 1761475 1747485 6989717 772669.0 2789302 108005.4 3003368
11750.16
amount 3.33 .96 .95 0 .93 0 4.73
increased
165053217474856989717772669.02789302108005.42892425
(1)11750.16
0.29.96.950.9301.69
Accrual
11094331109433
Other.04.04
3.Current 6141950 6141950
amount .88 .88
decreased
61419506141950
(1).88.88
Disposal
11189712942116134532.715904706944583754322715253221733707
4.Ending
60.878.1965.80.32.73.6101.28
balance
III.Impairme
nt
provision
555328311303416683625
1.Openin.54.88.42
g balance
228深圳市深粮控股股份有限公司2021年年度报告全文
2.Current
amount
increased
(1)
Accrual
3.Current
amount
decreased
(1)
Disposal
555328311303416683625
4.Ending.54.88.42
balance
IV. Book
value
1.Ending 5276001 1227146 3780618 1591452 1367819 2085164 6094051
49540.56
book 21.46 7.16 4.31 1.66 4.91 .76 94.82
value
2.
Opening 5330132 1401895 3054848 1668719 2783860 2193170 5993062
61290.72
book 71.77 3.12 6.51 0.66 .10 .16 23.04
value
Ratio of the intangible assets from internal R&D in balance of intangible assets at period-end
(2) Land use rights without certificate of ownership
Unit: RMB/CNY
Item Book value Reasons for without the property
certification
Land use rights 7849990.00 Still in process
Total 7849990.00
Other explanation:
229深圳市深粮控股股份有限公司2021年年度报告全文
27. Expense on Research and Development
Unit: RMB/CNY
Current amount increased Current amount decreased
Opening Internal Confirmed as Transfer to Ending
Item
balance development Other intangible current profit balance
expenditure assets and loss
Total
Other explanation
28. Goodwill
(1) Goodwill Original book value
Unit: RMB/CNY
Current increased Current decreased
The invested
Formed by
entity or matters Opening balance Ending balance
business Dispose
forming goodwill
combination
Wuhan Jiacheng
Biotechnology 1953790.56 1953790.56
Co. Ltd
Yunnan Pu’er Tea
Trading Center 673940.32 673940.32
Co. Ltd.Total 673940.32 1953790.56 2627730.88
(2) Goodwill impairment provision
Unit: RMB/CNY
The invested Current increased Current decreased
entity or matters Opening balance Ending balance
Accrual Dispose
forming goodwill
Yunnan Pu’er Tea
Trading Center 673940.32 673940.32
Co. Ltd.Total 673940.32 673940.32
Relevant information about the assets group or portfolio goodwill included
Instructions for goodwill impairments test process and key parameters (such as the forecast period growth rate stable period growth
230深圳市深粮控股股份有限公司2021年年度报告全文
rate profit rate discount rate and forecast period when estimating the present value of the future cash flow) and the method of
confirming the impairment loss of goodwill:
Impact of goodwill impairment test
Other explanation
In May 2016 Jufangyong Holdings a sub-subsidiary of the Company invested in the purchase of 15.00% equity
in Pu’er Tea Trading Center held by Yunnan Hengfengxiang Investment Co. Ltd. After the completion of the
purchase the Company has control over the Pu’er Tea Trading Center. The difference between the combined cost
and the fair value of net identifiable assets on the combining date formed goodwill of 673940.32 yuan. As of
December 31 2021 the full provision for impairment had been made.The Company invested in the purchase of 51.00% equity in Wuhan Jiacheng in August 2021. After the completion
of the purchase the Company has control over Wuhan Jiacheng. The difference between the combined cost and
the fair value of the net identifiable assets on the combining date formed goodwill of 1953790.56 yuan. The
Company engaged Yinxin Appraisal Co. Ltd. to issue an appraisal report. The appraisal method was to conduct a
goodwill test on the asset group containing goodwill and calculate the recoverable amount of the asset group by
using the fair value minus the disposal cost of the asset group. After testing there was no impairment in the
goodwill formed by the company’s acquisition of Wuhan Jiacheng at the end of the period.
29. Long-term expenses to be apportioned
Unit: RMB/CNY
Current amount
Item Opening balance Current amortization Other decreased Ending balance
increased
Improve expenditure
12887591.236592670.913942406.471254793.0414283062.63
for fix assets
Decoration fee 8966668.26 3541880.63 2515690.05 757430.82 9235428.02
Improve expenditure
for investment real 4285771.94 418918.00 179183.16 4242368.01 283138.77
estate
Affiliated project of
resident area in
96739.8726383.5670356.31
Wuyuan Ju Fang
Yong
Other 5495553.71 2272924.88 1569666.31 1275591.56 4923220.72
Total 31732325.01 12826394.42 8233329.55 7530183.43 28795206.45
Other explanation
231深圳市深粮控股股份有限公司2021年年度报告全文
30. Deferred income tax asset /Deferred income tax liabilities
(1) Deferred income tax assets without offset
Unit: RMB/CNY
Ending balance Opening balance
Item Deductible temporary Deferred income tax Deductible temporary Deferred income tax
differences asset differences asset
Impairment provision for
62056367.0515139642.2067113321.8616501454.23
assets
Unrealized profits in
2250127.31337519.103078755.60769722.53
internal transactions
Deductible loss 2383937.40 357590.61
Deferred income 53846.20 13461.55
Credit impairment loss 99371735.40 24694673.56 96768909.47 24063313.81
Total 166062167.16 40529425.47 167014833.13 41347952.12
(2) Deferred income tax liability without offset
Unit: RMB/CNY
Ending balance Opening balance
Item Taxable temporary Deferred income tax Taxable temporary Deferred income tax
differences liabilities differences liabilities
Asset evaluation
increment of enterprise
61157763.6913868191.8248600140.5212150035.13
combine under different
control
Total 61157763.69 13868191.82 48600140.52 12150035.13
(3) Deferred income tax assets and deferred income tax liabilities listed after off-set
Unit: RMB/CNY
Ending balance of Trade-off between the Opening balance of
Trade-off between the
deferred income tax deferred income tax deferred income tax
Item deferred income tax
assets or liabilities after assets and liabilities at assets or liabilities after
assets and liabilities
off-set period-begin off-set
Deferred income tax
40529425.4741347952.12
asset
Deferred income tax
13868191.8212150035.13
liabilities
232深圳市深粮控股股份有限公司2021年年度报告全文
(4) Details of uncertain deferred income tax assets
Unit: RMB/CNY
Item Ending balance Opening balance
Deductible temporary differences 155064630.67 183270008.13
Deductible loss 254117581.76 351368763.83
Total 409182212.43 534638771.96
(5) Deductible losses of un-recognized deferred income tax assets expired on the followed year
Unit: RMB/CNY
Year Ending amount Opening amount Note
202123943774.18
202233523647.1084999252.69
202351197266.1679916541.92
202431190814.7883190940.40
202589693860.3179318254.64
202648511993.41
Total 254117581.76 351368763.83 --
Other explanation:
31. Other non-current asset
Unit: RMB/CNY
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Prepaid for
1329101.001329101.00611965.84611965.84
equipment
Prepaid for
4602630.584602630.581864208.491864208.49
system
Total 5931731.58 5931731.58 2476174.33 2476174.33
Other explanation:
32. Short-term loans
(1) Category
Unit: RMB/CNY
233深圳市深粮控股股份有限公司2021年年度报告全文
Item Ending balance Opening balance
Guaranteed Loan 1500000.00
Loan in credit 503266782.25 110318727.12
Total 504766782.25 110318727.12
Explanation on category of short-term loans:
(2) Overdue short-term loans without payment
RMB 0 short-term loans over due without paid at period-end including follow major amount:
Unit: RMB/CNY
Borrower Ending balance Loan rate Overdue time Overdue interest
Other explanation:
33. Tradable financial liability
Unit: RMB/CNY
Item Ending balance Opening balance
Including:
Including:
Other explanation:
34. Derivative financial liability
Unit: RMB/CNY
Item Ending balance Opening balance
Other explanation:
35. Note payable
Unit: RMB/CNY
Category Ending balance Opening balance
Notes expired at year-end without paid was 0 Yuan.
36. Account payable
(1) Account payable
Unit: RMB/CNY
Item Ending balance Opening balance
234深圳市深粮控股股份有限公司2021年年度报告全文
Trade accounts payable 154756781.25 221632903.56
Account payable for engineering 271692014.89 254410372.45
Other 457873.57 4853241.63
Total 426906669.71 480896517.64
(2) Major accounts payable with age over one year
Unit: RMB/CNY
Item Ending balance Reasons of outstanding or carry-over
Other explanation:
37. Accounts received in advance
(1) Accounts received in advance
Unit: RMB/CNY
Item Ending balance Opening balance
Receipt of goods in advance
Other 2379891.67 3376262.66
Total 2379891.67 3376262.66 562553.20
(2) Important account received in advance with account age over one year
Unit: RMB/CNY
Item Ending balance Reasons of outstanding or carry-over
38. Contractual liabilities
Unit: RMB/CNY
Item Ending balance Opening balance
Sales price 182972314.85 108975866.82
Total 182972314.85 108975866.82
Amount and reasons for important changes of book value in the period
Unit: RMB/CNY
Item Amount changed Reasons of changes
235深圳市深粮控股股份有限公司2021年年度报告全文
39. Wage payable
(1) Wage payable
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
I. Short-term
243040453.26357526761.34297985402.23302581812.37
compensation
II. After-service
welfare-defined 16738931.80 33874531.43 33215894.73 17397568.50
contribution plans
III. Dismissed welfare 735174.60 821414.36 829914.36 726674.60
Total 260514559.66 392222707.13 332031211.32 320706055.47
(2) Short-term compensation
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
1. Wage bonus
234356069.74320069646.54259154922.72295270793.56
allowance and subsidy
2. Employees’ welfare 156952.35 12606158.85 12366354.78 396756.42
3. Social insurance
198640.244204027.664052985.60349682.30
charges
Including: medical
115400.073813096.013614225.28314270.80
insurance premium
Industrial injury
insurance 1267.41 145927.87 141014.14 6181.14
premiums
Maternity
insurance 40586.98 245003.78 256360.40 29230.36
premiums
Other 41385.78 41385.78
4. Housing public reserve 61858.47 15030720.05 15092578.52
5. Trade union fee and
8266932.465616208.247318560.616564580.09
education fee
Total 243040453.26 357526761.34 297985402.23 302581812.37
(3) Defined contribution plans
Unit: RMB/CNY
236深圳市深粮控股股份有限公司2021年年度报告全文
Item Opening balance Current increased Current decreased Ending balance
1. Basic endowment
393107.7418116088.7318509196.47
insurance premiums
2. Unemployment
975.41133523.02125795.488702.95
insurance premiums
3. Enterprise annuity 16344848.65 15624919.68 14580902.78 17388865.55
Total 16738931.80 33874531.43 33215894.73 17397568.50
Other explanation:
40. Taxes payable
Unit: RMB/CNY
Item Ending balance Opening balance
VAT 5394516.81 2792128.64
Enterprise income tax 75860781.94 59929311.33
Personal income tax 2264416.73 975572.27
Urban maintenance and construction tax 247110.08 117101.01
Deed tax 664227.84 664227.84
House property tax 1310817.90 1041691.54
Educational surtax 203981.23 84670.40
Use tax of land 214536.03 191383.02
Stamp tax 648290.86 1066139.48
Other 4908.73 42509.76
Total 86813588.15 66904735.29
Other explanation:
41. Other account payable
Unit: RMB/CNY
Item Ending balance Opening balance
Dividend payable 2933690.04 2933690.04
Other account payable 373673508.95 394392029.46
Total 376607198.99 397325719.50
(1) Interest payable
Unit: RMB/CNY
Item Ending balance Opening balance
Major overdue interest:
237深圳市深粮控股股份有限公司2021年年度报告全文
Unit: RMB/CNY
Borrower Overdue amount Overdue causes
Other explanation:
(2) Dividend payable
Unit: RMB/CNY
Item Ending balance Opening balance
Common stock dividend 2933690.04 2933690.04
Total 2933690.04 2933690.04
Other explanation including important dividend payable over one year without payment disclose reasons for un-paid:
(3) Other account payable
1) By nature
Unit: RMB/CNY
Item Ending balance Opening balance
Engineering quality retention money and
1436175.56737356.67
fund of tail
Deposit and margin 134841365.60 191086945.49
Intercourse funds and other 201486678.66 191229002.98
Drawing expenses in advance 35909289.13 11338724.32
Total 373673508.95 394392029.46
2) Significant other account payable with over one year age
Unit: RMB/CNY
Item Ending balance Reasons of outstanding or carry-over
Other explanation
Nil
42. Liability held for sale
Unit: RMB/CNY
Item Ending balance Opening balance
Other explanation:
238深圳市深粮控股股份有限公司2021年年度报告全文
43. Non-current liabilities due within one year
Unit: RMB/CNY
Item Ending balance Opening balance
Long-term loans due within one year 108955105.34 104225183.07
Lease liabilities due within one year 19777369.82 280145.60
Total 128732475.16 104505328.67
Other explanation:
44. Other current liabilities
Unit: RMB/CNY
Item Ending balance Opening balance
VAT payable 4367576.91 2329512.69
Other 4920907.99
Total 4367576.91 7250420.68
Change of short-term bonds payable:
Unit: RMB/CNY
Premium
Accrual
and
Face Issuance Bonds Amount Opening Issued in interest Paid in Ending
Bonds discount
value date term issued balance the period by face the period balance
amortizati
value
on
Total -- -- --
Other explanation:
45. Long-term loans
(1) Category
Unit: RMB/CNY
Item Ending balance Opening balance
Mortgage + guarantee 730521692.22 841864531.75
Total 730521692.22 841864531.75
Explanation on category of long-term loans:
Other explanation including interest rate range:
239深圳市深粮控股股份有限公司2021年年度报告全文
46. Bonds payable
(1) Bonds payable
Unit: RMB/CNY
Item Ending balance Opening balance
(2) Changes of bonds payable (not including the other financial instrument of preferred stock and
perpetual capital securities that classify as financial liability)
Unit: RMB/CNY
Premium
Accrual
and
Face Issuance Bonds Amount Opening Issued in interest Paid in Ending
Bonds discount
value date term issued balance the period by face the period balance
amortizati
value
on
Total -- -- --
(3) Convertible conditions and time for shares transfer for the convertible bonds
(4) Other financial instruments classify 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
Unit: RMB/CNY
Outstanding Period-beginning Current increased Current decreased Period-end
financial
Amount Book value Amount Book value Amount Book value Amount Book value
instrument
Basis for financial liability classification for other financial instrument
Other explanation
47. Lease liability
Unit: RMB/CNY
Item Ending balance Opening balance
Lease Payments 110058216.03 2520375.75
Unrecognized financing charges -10107102.46 -400344.61
Lease liabilities due within one year -19777369.82 -280145.60
Total 80173743.75 1839885.54
Other explanation
240深圳市深粮控股股份有限公司2021年年度报告全文
48. Long-term account payable
Unit: RMB/CNY
Item Ending balance Opening balance
Special account payable 17266921.98 16126146.20
Total 17266921.98 16126146.20
(1) By nature
Unit: RMB/CNY
Item Ending balance Opening balance
Other explanation:
(2) Special account payable
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance Causes
Depreciation fund
16126146.20151129.7816277275.98
for grain deposits
Shenzhen Hospital
Phase III Housing
Expropriation 989646.00 989646.00
Property Rights
Exchange
Total 16126146.20 1140775.78 17266921.98 --
Other explanation:
49. Long-term wage payable
(1) Long-term wage payable
Unit: RMB/CNY
Item Ending balance Opening balance
(2) Changes of defined benefit plans
Present value of the defined benefit plans:
Unit: RMB/CNY
Item Current Period Last Period
Scheme assets:
241深圳市深粮控股股份有限公司2021年年度报告全文
Unit: RMB/CNY
Item Current Period Last Period
Net liability (assets) of the defined benefit plans
Unit: RMB/CNY
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:
Other explanation:
50. Accrual liabilities
Unit: RMB/CNY
Item Ending balance Opening balance Causes
External guarantee 3500000.00 3500000.00
Total 3500000.00 3500000.00 --
Other explanation including relevant important assumptions and estimation: According to the civil judgment made by the Shenzhen
Intermediate People’s Court in the disputes over loan contract between Changzhou Shenbao Chacang Electronic Commerce Co. Ltd.and Shenzhen Agricultural Products Financing Guarantee Co. Ltd. the Company shall assume joint and several liabilities for
repayment of the debts of Changzhou Shenbao Chacang Electronic Commerce Co. Ltd. within the scope of 3.5 million yuan.
51. Deferred income
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance Causes
Government grants 100710038.32 5754418.83 13334920.47 93129536.68
Total 100710038.32 5754418.83 13334920.47 93129536.68 --
Item with government grants involved:
Unit: RMB/CNY
Amo
unt
reck
Amount Cost Othe
New grants oned Assets-rel
Opening reckoned in reduction r Ending
Liability in the in ated/inco
balance non-operatio in the chan balance
Period othe me related
n revenue period ges
r
inco
me
Intelligent
Assets-rel
management of 466666.56 200000.04 266666.52
ated
grain depot based
242深圳市深粮控股股份有限公司2021年年度报告全文
on mobile internet
Special funds for
intelligent
upgrading and
Assets-rel
transformation of 10922083.35 4634999.96 6287083.39
ated
grain warehouse“Grain SafetyProject”
Government
5754418. Assets-rel
central government 4710782.45 4245486.70 6219714.58
83 ated
grant funds
Base of further
Assets-rel
processing for tea 550000.00 275000.04 274999.96
ated
and nature plants
Special fund for
the development of
Assets-rel
strategic emerging 2836474.79 351209.04 2485265.75
ated
industries in
Shenzhen
Industrialization of Assets-rel
1691244.91196445.881494799.03
instant tea powder ated
Enterprise
technology center
is a municipal
R&D center. Assets-rel
1579251.97204024.481375227.49
Subsidies for ated
industrial
technological
advancement
Grant for key
technology
Assets-rel
research and 124521.17 14244.96 110276.21
ated
industrialization of
instant tea powder
Construction
amount for 50 tons
Assets-rel
for clearly 249999.94 125000.04 124999.90
ated
processing for
Mingyou tea
Subsidy for supply
Assets-rel
system 350000.00 200000.00 150000.00
ated
construction of
243深圳市深粮控股股份有限公司2021年年度报告全文
agricultural
products
Construction of
O2O community
sales service
system for high Assets-rel
1712259.1232384.041679875.08
quality grain and ated
oil based on B2C
E-commerce
platform
Industrialization of
Doximi Assets-rel
978281.14736420.56241860.58
E-commerce ated
platform
Agricultural
product safety
testing project of
the special fund for Assets-rel
342000.00342000.00
agricultural ated
development -
Central investment
fund
Special fund for
agricultural
development -
agricultural
product safety
testing project- Assets-rel
164000.00164000.00
capacity building ated
of the third party
inspection
institution
expansion
evaluation
Grain storage
project of
Dongguan Assets-rel
7717903.59262257.127455646.47
Shenliang ated
Logistics Co. Ltd.- Storage A
Phase II of grain 29874797.9 Assets-rel
30906098.481031300.52
storage project of 6 ated
244深圳市深粮控股股份有限公司2021年年度报告全文
Dongguan
Shenliang
Logistics Co. Ltd.-
Storage B
Grain oil and food
headquarters and
innovative public
18000000.0 Assets-rel
service platform of 18000000.00
0 ated
Dongguan
Shenliang
Logistics Co. Ltd.Construction of
450000 ton silos
and 60000 ton film 17088323.7 Assets-rel
17354624.65266300.89
silos -CDE 6 ated
warehouse. Gas
storage bin
Project grants for
years for Assets-rel
53846.2053846.20
agricultural ated
district Xihu Zone
100710038.35754418.13334920.493129536.6
Total
28378
Other explanation:
52. Other non-current liabilities
Unit: RMB/CNY
Item Ending balance Opening balance
Other explanation:
53. Share capital
Unit: RMB/CNY
Increased (decreased) in this year +-
Opening Shares
Ending balance
balance New shares Bonus shares converted from Other Subtotal
issued
public reserve
1152535254.1152535254.
Total shares
0000
Other explanation:
245深圳市深粮控股股份有限公司2021年年度报告全文
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
Unit: RMB/CNY
Outstanding Period-beginning Current increased Current decreased Period-end
financial
Amount Book value Amount Book value Amount Book value Amount Book value
instrument
Changes of other equity instrument change reasons and relevant accounting treatment basis:
Other explanation:
55. Capital public reserve
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
Capital premium (Share
1413996347.50163253072.711250743274.79
capital premium)
Other capital reserve 8896381.86 8896381.86
Total 1422892729.36 163253072.71 1259639656.65
Other instructions including changes in the current period reasons for the change: Capital public reserve decreased in the Period
mainly due to the write-down of capital premium for the acquisition of 49% minority interest in Dongguan Logistics
56. Treasury stock
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
Other explanation including changes and reasons for changes:
57. Other comprehensive income
Unit: RMB/CNY
Item Opening Current Period Ending
246深圳市深粮控股股份有限公司2021年年度报告全文
balance Less: balance
Less: written written in
in other other
comprehensi comprehe
ve income in nsive
Account
previous income in Belong to Belong to
before
period and previous Less : income parent minority
income tax
carried period and tax expense company shareholders
in the
forward to carried after tax after tax
period
gains and forward to
losses in retained
current earnings in
period current
period
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
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
Production safety fee 1283502.97 1283502.97
Total 1283502.97 1283502.97
Other explanation including changes and reasons for changes:
59. Surplus public reserve
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
Statutory surplus
382367575.3723207915.05405575490.42
reserves
Total 382367575.37 23207915.05 405575490.42
Other explanation including changes and reasons for changes:
60. Retained profit
Unit: RMB/CNY
Item Current period Last period
Retained profit at the end of the previous year
1637536441.031495135080.60
before adjustment
247深圳市深粮控股股份有限公司2021年年度报告全文
Total retained profit at the beginning of the
1637536441.031495135080.60
previous year before adjustment
Add: net profit attributable to shareholder of
428720226.09405088385.54
parent company
Less: withdrawal of legal surplus reserve 23207915.05 32179974.31
Common stock dividends payable 230507050.80 230507050.80
Retained profit at period-end 1812541701.27 1637536441.03
Details about adjusting the retained profits at the beginning of the period:
1) The retroactive adjustments to Accounting Standards for Business Enterprises and its relevant new regulations affect the retained
profits at the beginning of the period amounting to 0 Yuan.
2) The changes in accounting policies affect the retained profits at the beginning of the period amounting to 0 Yuan.
3) The major accounting error correction affects the retained profits at the beginning of the period amounting to 0 Yuan
4) Merge scope changes caused by the same control affect the retained profits at the beginning of the period amounting to 0 Yuan.
5) Other adjustments affect the retained profits at the beginning of the period amounting to 0 Yuan
61. Operating income and operating cost
Unit: RMB/CNY
Current period Last period
Item
Income Cost Income Cost
Main business 10131502397.87 8854262225.62 11877315782.17 10724158547.46
Other business 8061312.24 5023083.81 7211724.17 854385.88
Total 10139563710.11 8859285309.43 11884527506.34 10725012933.34
Whether the lower of the audited net profit before and after deduction of non-recurring gains and losses is negative
□Yes √No
Information relating to revenue:
Unit: RMB/CNY
Category Branch 1 Branch 2 Total
Product Types
Including:
Classification by
business area
Including:
Market or customer
type
Including:
Contract Types
Including:
248深圳市深粮控股股份有限公司2021年年度报告全文
Classification by time
of goods transfer
Including:
Classification by
contract duration
Including:
Classification by sales
channel
Including:
Total
Information relating to performance obligations:
Nil
Information related to the transaction price apportioned to the remaining performance obligations:
The amount of income corresponding to the performance 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 182972314.85 yuan among them 182972314.85 yuan of revenue is
expected to be recognized in 1 YEAR yuan of revenue is expected to be recognized in YEAR and yuan of revenue is expected to
be recognized in YEAR.Other explanation
62. Tax and surcharges
Unit: RMB/CNY
Item Current period Last period
Consumption tax 1211971.88 834166.18
Urban maintenance and construction tax 948922.05 605281.65
House property tax 9323401.45 6564972.11
Use tax of land 2211825.47 1683656.55
Vehicle and vessel use tax 13661.76 14094.32
Stamp duty 2926117.62 2189511.56
Other 73180.88 485520.04
Total 16709081.11 12377202.41
Other explanation:
63. Sales expenses
Unit: RMB/CNY
Item Current period Last period
Labor and social security benefits 94568349.97 79782639.14
249深圳市深粮控股股份有限公司2021年年度报告全文
Port terminal fee 44060197.04 37296574.33
Warehousing loading and unloading
33509528.4327375876.53
fees
Depreciation and amortization of
31076514.0212947254.76
long-term assets
Equivalent loss for low value perishable
11129938.106610770.31
goods
Utilities and office expenses 8357718.26 5481335.39
After-sale services 5522682.72 5706789.04
Rental fee 5099681.66 4599158.22
Advertisement charge 2164753.84 844284.38
Travel expenses 2154287.30 2364534.09
Business hospitality expenses 1685748.60 1532069.82
Property insurance premium 978519.97 707503.79
Logistics transportation fee 666951.32 4527232.81
Sales commission 556125.11 1749680.45
Automobile expenses 466576.87 671397.95
Other 8218900.46 9107741.29
Total 250216473.67 201304842.30
Other explanation:
64. Administration expenses
Unit: RMB/CNY
Item Current period Last period
Labor and social security benefits 229304676.04 208921378.42
Depreciation and amortization of
38977012.4728899326.56
long-term assets
Office expenses 9301150.76 13279553.23
Intermediary agency fee 6175091.19 6189913.85
Rental 2339027.66 4231857.35
Business hospitality 1381214.23 2671957.93
Relocation and shutdown costs 1018858.86 2040350.03
Travel expenses 1580964.19 1667900.78
Repair cost 496196.40 1576305.28
Communication fee 1443744.11 1265413.26
250深圳市深粮控股股份有限公司2021年年度报告全文
Vehicle usage fee 1269178.88 958223.56
Low-value consumables 110748.00 519410.79
Other 7337722.55 12861862.87
Total 300735585.34 285083453.91
Other explanation:
65. R&D expenses
Unit: RMB/CNY
Item Current period Last period
Labor and social security benefits 12072003.58 9123103.91
Depreciation cost 3817723.52 3008677.44
Logistics consumption 1230299.67 1502184.44
Office expenses 108480.49 1057176.90
Maintenance and inspection fee 496210.10 573724.23
Travel expenses 835159.10 199563.72
Automobile expenses 38651.46 36289.77
Intermediary fees 65949.62 8161.30
Other 2025016.59 1109062.54
Total 20689494.13 16617944.25
Other explanation:
66. Financial expenses
Unit: RMB/CNY
Item Current period Last period
Interest expenses 57185980.70 16958179.81
Including: Lease Liability Interest
4186156.64
Expenses
Less: Interest income 2369604.37 3529030.44
Exchange loss 264807.96 304160.59
Handling fee 1287402.39 1174453.98
Total 56368586.68 14907763.94
Other explanation:
67. Other income
Unit: RMB/CNY
251深圳市深粮控股股份有限公司2021年年度报告全文
Sources Current Period Last Period
Government subsidy 15739392.31 18386517.09
Other 228909.70
Total 15739392.31 18615426.79
68. Investment income
Unit: RMB/CNY
Item Current period Last period
Long-term equity investment income
275295.652065265.42
measured by equity
Investment income from disposal of long-term
2288570.32
equity investment
Tradable financial assets investment income
3997573.6112918317.97
during the holding period
Dividend income from other equity instrument
16735.24129491.67
investments during the holding period
Total 4289604.50 17401645.38
Other explanation:
69. Net exposure hedge gains
Unit: RMB/CNY
Item Current period Last period
Other explanation:
70. Income of fair value changes
Unit: RMB/CNY
Sources Current Period Last Period
Tradable financial assets 299292.76 -544403.21
Total 299292.76 -544403.21
Other explanation:
71. Credit impairment loss
Unit: RMB/CNY
Item Current period Last period
252深圳市深粮控股股份有限公司2021年年度报告全文
Loss of bad debt of other account
-836446.942843.82
receivable
Loss of bad debt of account receivable 2991334.49 1009844.21
Total 2154887.55 1012688.03
Other explanation:
72. Assets impairment loss
Unit: RMB/CNY
Item Current period Last period
II. Inventory price drop loss and contract
-184486526.84-210190362.81
performance cost impairment loss
Total -184486526.84 -210190362.81
Other explanation:
73. Income from assets disposal
Unit: RMB/CNY
Sources Current Period Last Period
Profit and loss on disposal of non current
29437150.82-47312.84
assets
Total 29437150.82 -47312.84
74. Non-operating income
Unit: RMB/CNY
Amount included in the current
Item Current period Last period
non-recurring profit and loss
Government grants 132228.97 116855.22 132228.97
Profit 3926.51
Liquidated damages
1028555.002268309.261028555.00
compensation income
Government demolition subsidy 11277891.00 11277891.00
Other 2201990.56 1536846.85 2201990.56
Total 14640665.53 3925937.84 14640665.53
Government grants reckoned into current gains/losses:
Unit: RMB/CNY
253深圳市深粮控股股份有限公司2021年年度报告全文
Whether the
impact of
Whether Assets
Issuing subsidies on Amount of Amount of
Grants Issuing cause Property type special related/Incom
subject the current this period last period
subsidies e related
profit and
loss
Other explanation:
75. Non-operating expenditure
Unit: RMB/CNY
Amount included in the current
Item Current period Last period
non-recurring profit and loss
External donations 151077.90 681235.18 151077.90
Penalty expenses (and
65275.0065275.00
liquidated damages)
Inventory loss 114032.24
Loss of scrap from non-current
85970.25168726.0685970.25
assets
Compensation 126800.00 126800.00
Other 1076240.78 590559.34 1076240.78
Total 1505363.93 1554552.82 1505363.93
Other explanation:
76. Income tax expense
(1) Income tax expense
Unit: RMB/CNY
Item Current period Last period
Current income tax expenses 79091857.01 56749544.35
Deferred income tax expenses 725783.61 -2678958.25
Total 79817640.62 54070586.10
(2) Adjustment process of accounting profit and income tax expenses
Unit: RMB/CNY
Item Current Period
Total profit 516128282.45
254深圳市深粮控股股份有限公司2021年年度报告全文
Income tax expenses calculated by statutory tax rate 129032070.61
Impact from different tax rate apply with the subsidiary -443855.61
Effect of adjusting income tax in the previous period 3530614.96
Impact of non taxable income -145240834.05
Impact on cost expenses and losses that unable to deducted 108341079.30
Impact of the deductible loss on deferred income tax assets not
-23630421.52
recognized in the prior period of use
Unrecognized impacts of deductible temporary differences or
10556804.45
deductible losses on deferred income tax assets in the period
Impact on R&D costs deduction -2327817.52
Income tax expenses 79817640.62
Other explanation
77. Other comprehensive income
Found more in annotations
78. Annotation of cash flow statement
(1) Cash received with other operating activities concerned
Unit: RMB/CNY
Item Current period Last period
Intercourse funds and deposit 468799201.24 337317609.85
Government grants 8291119.64 17576438.98
Interest income 2369604.37 3529030.44
Other 2744100.71
Total 479459925.25 361167179.98
Note of cash paid with other operating activities concerned:
(2) Cash paid with other operating activities concerned
Unit: RMB/CNY
Item Current period Last period
Intercourse funds and deposit 491065095.21 183890826.39
Operating daily expenses 143556540.75 166210083.22
Other 1699332.12
Total 634621635.96 351800241.73
255深圳市深粮控股股份有限公司2021年年度报告全文
Note of cash paid with other operating activities concerned:
(3) Cash received with other investment activities concerned
Unit: RMB/CNY
Item Current period Last period
Performance compensation 337500.00
Total 337500.00
Note of cash received with other investment activities concerned:
(4) Cash paid related with investment activities
Unit: RMB/CNY
Item Current period Last period
Other 6600.00
Total 6600.00
Note of cash paid related with investment activities:
(5) Cash received with other financing activities concerned
Unit: RMB/CNY
Item Current period Last period
Note of cash received with other financing activities concerned:
(6) Other cash paid related with financing activities
Unit: RMB/CNY
Item Current period Last period
Operating lease rent paid 20527342.78
Other 58702.23
Total 20527342.78 58702.23
Note of other cash paid related with financing activities:
79. Supplementary information to statement of cash flow
(1) Supplementary information to statement of cash flow
Unit: RMB/CNY
Supplementary information Current period Last period
256深圳市深粮控股股份有限公司2021年年度报告全文
1. Net profit adjusted to cash flow of
----
operation activities:
Net profit 436310641.83 403771846.45
Add: Impairment provision for assets 182331639.29 209177674.78
Depreciation of fixed assets consumption of
oil assets and depreciation of productive 91236937.27 78978606.42
biology assets
Depreciation of right-of-use assets 18517985.61
Amortization of intangible assets 28924251.69 23305749.14
Amortization of long-term pending expenses 8233329.55 5929229.59
Loss from disposal of fixed assets intangible
assets and other long-term assets (income is -29437150.82 47312.84
listed with “-”)
Losses on scrapping of fixed assets (income
85970.25168726.06is listed with “-“)Loss from change of fair value (income is
-299292.76544403.21listed with “-“)Financial expenses (income is listed with
57450788.6617262340.40
“-”)
Investment loss (income is listed with “-”) -4289604.50 -17401645.38
Decrease of deferred income tax assets
1043335.56-2265241.16
(increase is listed with “-”)
Decrease of deferred income tax
-317551.95-413717.09
asset( (increase is listed with “-”)
Decrease of inventory (increase is listed with
-227050518.73-358984132.03
“-”)
Decrease of operating receivable accounts
-149494290.67128157029.48
(increase is listed with “-”)
Increase of operating payable accounts
27149559.26-201749960.44
(decrease is listed with “-”)
Other
Net cash flow arising from operating 440396029.54
286528222.27
activities
2. Material investment and financing not
----
involved in cash flow
Conversion of debt into capital
Switching Company bonds due within
one year
257深圳市深粮控股股份有限公司2021年年度报告全文
financing lease of fixed assets
3. Net change of cash and cash equivalents: -- --
Balance of cash at period end 49370080.20 190494225.94
Less: Balance of cash at year-begin 190494225.94 154954757.85
Add: Balance at year-end of cash equivalents
Less: Balance at year-begin of cash
equivalents
Net increasing of cash and cash
-141124145.7435539468.09
equivalents
(2) Net cash paid for obtaining subsidiary in the Period
Unit: RMB/CNY
Amount
Cash or cash equivalents paid in the current period for business
21675000.00
combinations that occurred in the current period
Including: --
Wuhan Jiacheng Biotechnology Co. Ltd 21675000.00
Less: Cash and cash equivalents held by the company at the date of
5162794.04
purchase
Including: --
Wuhan Jiacheng Biotechnology Co. Ltd 5162794.04
Including: --
Net cash paid to acquire subsidiaries 16512205.96
Other explanation:
(3) Net cash received by disposing subsidiary in the Period
Unit: RMB/CNY
Amount
Including: --
Including: --
Including: --
Other explanation:
(4) Constitution of cash and cash equivalent
Unit: RMB/CNY
258深圳市深粮控股股份有限公司2021年年度报告全文
Item Ending balance Opening balance
I. Cash 49370080.20 190494225.94
Including: Cash on hand 29370.19 62642.11
Bank deposit available for payment
49133969.39189169821.01
at any time
Other monetary fund available for
206740.621261762.82
payment at any time
III. Balance of cash and cash equivalent at
49370080.20190494225.94
period-end
Other explanation:
80. Notes of changes of owners’ equity
Explain the name and adjusted amount in “Other” at end of last period:
81. Assets with ownership or use right restricted
Unit: RMB/CNY
Item Ending book value Reasons for restriction
Money funds 1039843.45 Guarantee deposit and credit deposit etc.According to the long-term loan mortgage contract signed by Dongguan Logistics
Company a subsidiary of the Company with Shenzhen Branch of Agricultural
Development Bank and Huizhou Zhongkai Sub-branch of HSBC Dongguan
Logistics Company has mortgaged the real estate property rights of the structures of
Fixed assets 508407161.32
Yue (2020) Dongguan PropertyRight No. 0127118 Yue (2020) Dongguan
PropertyRight No. 0127119Yue (2020) Dongguan PropertyRight No. 0127120 and
Yue (2020) Dongguan PropertyRight No.0119705 at No. 10Jingang South Road
Machong Town Dongguan City and other aground buildings as loan collateral.According to the long-term loan mortgage contract signed by Dongguan Logistics
Company a subsidiary of the Company with Shenzhen Branch of Agricultural
Development Bank and Huizhou Zhongkai Sub-branch of HSBC Dongguan
Logistics Company has mortgaged the real estate property rights of the structures of
Intangible assets 44245302.46
Yue (2020) Dongguan PropertyRight No. 0127118 Yue (2020) Dongguan
PropertyRight No. 0127119Yue (2020) Dongguan PropertyRight No. 0127120 and
Yue (2020) Dongguan PropertyRight No.0119705 at No. 10Jingang South Road
Machong Town Dongguan City and other aground buildings as loan collateral.According to the loan contract Yue DG2017 NGDZ No. 006 signed by Dongguan
Food Industrial Park a subsidiary of the Company with Bank of Communications
Co. Ltd. Dongguan Branch Dongguan Food Industrial Park has mortgaged its two
Intangible assets 33096312.71
pieces of land "DFGY (2009) DT No. 190" and "Yue (2020) Dongguan Real Estate
Right No. 0321771" to the Bank of Communications Co. Ltd. Dongguan Branch
as loan collateral.
259深圳市深粮控股股份有限公司2021年年度报告全文
According to the long-term loan mortgage contract signed by Dongguan Logistics a
subsidiary of the Company with Dongguan Branch of CMB Dongguan Logistics
Intangible assets 35002719.11 has mortgaged the real estate property rights of the structures of Yue (2016)
Dongguan Property Right No. 0028527 at No. 10 Jingang South Road Machong
Town Dongguan City to Dongguan Branch of CMB.Total 621791339.05 --
Other explanation:
82. Foreign currency monetary items
(1) Foreign currency monetary items
Unit: RMB/CNY
Ending foreign currency Ending RMB balance
Item Convert rate
balance converted
Monetary fund -- -- 704345.07
Including: USD 78917.11 6.3757 503151.82
EURO 4005.01 7.2197 28914.97
HKD 210712.18 0.8176 172278.28
Account receivable -- -- 1514120.13
Including: USD 184564.85 6.3757 1176730.11
EURO
HKD 412659.03 0.8176 337390.02
Long-term loans -- --
Including: USD
EURO
HKD
Other explanation:
(2) Explanation on foreign operational entity including as for the major foreign operational entity
disclosed main operation place book-keeping currency and basis for selection; if the book-keeping
currency changed explain reasons
□ Applicable √ Not applicable
83. Hedging
Disclosed hedging items and relevant hedging instrument based on hedging’s category disclosed qualitative and quantitative
information for the arbitrage risks:
260深圳市深粮控股股份有限公司2021年年度报告全文
84. Government subsidies
(1) Government subsidies
Unit: RMB/CNY
Amount reckoned into current
Category Amount Item
gains/losses
Government subsidies related
93129536.68 Deferred income 13334920.47
to assets
Government subsidies related
2404471.84 Other income 2404471.84
to income
Government subsidies related
132228.97 Non-operating income 132228.97
to income
Total 95666237.49 Total 15871621.28
(2) Government subsidies rebate
□ Applicable √ Not applicable
Other explanation:
85. Other
VIII. Changes of consolidation range
1. Enterprise merger not under the same control
(1) Enterprise merger not under the same control
Unit: RMB/CNY
Income of Net profit
Standard to
Acquired acquiree of acquiree
Time point Cost of Ratio of determine
way Equity Purchasing from from
Acquiree for equity equity equity the
obtained date purchasing purchasing
obtained obtained obtained purchasing
way date to date to
date
period-end period-end
Wuhan
Jiacheng
21675000 Acquiring 17139943 2854540.
Biotechnol 2021-09-01 51.00% Purchase 2021-09-01.00 the control .75 09
ogy Co.Ltd
Other explanation:
261深圳市深粮控股股份有限公司2021年年度报告全文
(2) Combination cost and goodwill
Unit: RMB/CNY
Consolidation cost Wuhan Jiacheng Biotechnology Co. Ltd
--Cash 21675000.00
--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
Total combination cost 21675000.00
Less: shares of fair value of identifiable net assets acquired 19721209.44
Goodwill/merger cost is less than the shares of fair value of
1953790.56
identifiable net assets acquired
Determination method for fair value of the combination cost and contingent consideration and changes:
Main reasons for large goodwill resulted:
Other explanation:
(3) Identifiable assets and liability on purchasing date under the acquiree
Unit: RMB/CNY
Wuhan Jiacheng Biotechnology Co. Ltd
Fair value on purchasing date Book value on purchasing date
Assets: 87498122.95 73926732.04
Monetary funds 5162794.04 5162794.04
Account receivable 2043101.35 2043101.35
Inventory 496006.81 1276140.82
Fixed assets 8165252.61 7169405.66
Intangible assets 7354818.84 7354818.84
Prepayments 18754959.72 13690372.35
Other receivables 27525965.98 27235778.94
Construction in progress 17493110.60 9474226.04
Other assets 502113.00 520094.00
Liability: 48829084.83 46793376.19
Loan
Account payable
262深圳市深粮控股股份有限公司2021年年度报告全文
Deferred tax liabilities 2035708.64
Other liabilities 46793376.19 46793376.19
Net assets 38669038.12 27133355.85
Less: Minority interests 18947828.68 13295344.37
Net assets acquired 19721209.44 13838011.48
Determination method for fair value of the identifiable assets and liabilities:
Contingent liability of the acquiree bear during combination:
Other explanation:
(4) Gains or losses arising from re-measured by fair value for the equity held before purchasing date
Whether it is a business combination realized by two or more transactions of exchange and a transaction of obtained control rights in
the Period or not
□Yes √No
(5) On purchasing date or period-end of the combination combination consideration or fair value of
identifiable assets and liability for the acquiree are un-able to confirm rationally
(6) Other explanation
2. Combine under the same control
(1) Enterprise combined under the same control in the Period
Unit: RMB/CNY
Income of Net profit
the of the
Income of Net profit
combined combined
Equity Basis of Standard to the of the
party from party from
ratio combined determine combined combined
Combinati period-begi period-begi
Acquiree obtained in under the the party party
on date n of n of
combinatio same combinatio during the during the
combinatio combinatio
n control n date comparison comparison
n to the n to the
period period
combinatio combinatio
n date n date
Other explanation:
(2)Combination cost
Unit: RMB/CNY
Consolidation cost
263深圳市深粮控股股份有限公司2021年年度报告全文
--Cash
-- Book value of non-cash assets
- Book value of debts issued or assumed
-- The face value of the equity securities issued
--Contingent consideration
Explanation on contingent consideration and its changes:
Other explanation:
(3) Book value of the assets and liability of the combined party on combination date
Unit: RMB/CNY
Consolidation date End 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 bear 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 Subsidiary
Whether there is a subsidiary disposal on one time which is loss control of rights
□Yes √No
Whether there is a subsidiary disposal by steps through multiple trading and loss control of rights in the period
□Yes √No
264深圳市深粮控股股份有限公司2021年年度报告全文
5. Other reasons for consolidation range changed
Consolidation scope changes caused by other reasons (eg newly establish subsidiaries liquidate subsidiaries etc.) and the related
circumstances:
Dongguan Shenliang Hualian Grain & Oil Trading Co. Ltd newly established in the Period the Heilongjiang Hongxinglong
Nongken Shenxin Cereals Industrial Park Co. ltd and Shenzhen Shenbao Property Management Co. Ltd were deregister.
6. Other
IX. Equity in other entity
1. Equity in subsidiary
(1) Constitute of enterprise group
Main place of Registration Share-holding ratio
Subsidiary Business nature Acquired way
operation place Directly Indirectly
Shenbao
Shenzhen City Shenzhen City Manufacturing 100.00% Establishment
Huacheng
Wuyuan Ju
Shangrao City Shangrao City Manufacturing 100.00% Establishment
Fang Yong
Shenbao Tea Commercial
Shenzhen City Shenzhen City 100.00% Establishment
Culture trade
Ju Fang Yong Wholesale
Hangzhou City Hangzhou City 60.00% Establishment
Trading business
Ju Fang Yong
Hangzhou City Hangzhou City Comprehensive 100.00% Establishment
Holding
Fuhaitang Catering
Hangzhou City Hangzhou City 100.00% Establishment
Catering industry
Tea planting Combine not
Fuhaitang
Hangzhou City Hangzhou City production and 100.00% under the same
Ecological
sales control
Shenbao Rock
Wuyishan City Wuyishan City Manufacturing 100.00% Establishment
Tea
Pu'er Tea Wholesale
Pu’er City Pu’er City 100.00% Establishment
Supply Chain business
Wholesale
Shenbao Food Huizhou City Huizhou City 100.00% Establishment
business
Pu’er Tea Pu’er City Pu’er City Service 55.00% Establishment
265深圳市深粮控股股份有限公司2021年年度报告全文
Trading Center industry
Shenbao Investment
Shenzhen City Shenzhen City 100.00% Establishment
Investment management
Shenbao Food Huizhou City Shenzhen City Manufacturing 100.00% Establishment
Huizhou
Huizhou City Huizhou City Comprehensive 100.00% Establishment
Shenbao
Development
Shenbao consulting and
Shenzhen City Shenzhen City 100.00% Establishment
Technology transfer of
technology
Shenbao
Wholesale
Industry & Huizhou City Shenzhen City 100.00% Establishment
business
Trade
Combine under
Grain & oil
SZCG Shenzhen City Shenzhen City 100.00% the same
trading
control
Combine under
Hualian Grain Grain & oil
Shenzhen City Shenzhen City 100.00% the same
& Oil trading
control
Combine under
Flour
Shenzhen Flour Shenzhen City Shenzhen City 100.00% the same
processing
control
Shenliang Combine under
Quality Shenzhen City Shenzhen City Inspection 100.00% the same
Inspection control
Combine under
Hainan Grain Feed
Haikou City Haikou City 100.00% the same
and Oil production
control
Combine under
Doximi Shenzhen City Shenzhen City E-commerce 100.00% the same
control
Sales and
Combine under
processing of
Big Kitchen Shenzhen City Shenzhen City 70.00% the same
grain oil and
control
products
Combine under
Yingkou
Yingkou City Yingkou City Storage 100.00% the same
Storage
control
Cold-Chain Fresh food Combine under
Shenzhen City Shenzhen City 100.00%
Logistic management the same
266深圳市深粮控股股份有限公司2021年年度报告全文
on-line control
Real estate
Combine under
Shenliang development
Shenzhen City Shenzhen City 100.00% the same
Property and property
control
management
Port operation Combine under
International Dongguan Dongguan
food 100.00% the same
Food City City
production control
Combine under
Dongguan Dongguan Dongguan Food
100.00% the same
Grain and Oil City City production
control
Combine under
Dongguan Dongguan Dongguan Storage
49.00% 51.00% the same
Logistics City City logistics
control
Construction of
food base and
Combine under
Shuangyashan Shuangyashan development of
Shuangyashan 51.00% the same
City City related
control
complementary
facility
Shenliang
Shenzhen City Shenzhen City Catering 51.00% Establishment
Hongjun
Dongguan Dongguan Dongguan Grain and oil
100.00% Establishment
Hualian City City trade
Combine not
Wuhan Food
Wuhan City Wuhan City 51.00% under the same
Jiacheng production
control
Combine not
Food
Hubei Jiacheng Wuhan City Wuhan City 51.00% under the same
production
control
Combine not
Food
Wuhan Hongqu Wuhan City Wuhan City 51.00% under the same
production
control
Combine not
Macheng Food
Macheng City Macheng City 51.00% under the same
Jingtian production
control
Explanation on share-holding ratio in subsidiary different from ratio of voting right:
Basis for controlling the invested entity with half or below voting rights held and without controlling invested entity but with over
half and over voting rights:
Major structured entity included in consolidates statement:
Basis of termination of agent or consignor:
267深圳市深粮控股股份有限公司2021年年度报告全文
Other explanation:
(2) Important non-wholly-owned subsidiary
Unit: RMB/CNY
Gains/losses Dividend announced to
Share-holding ratio of Ending equity of
Subsidiary attributable to minority distribute for minority
minority minority
in the Period in the Period
Big Kitchen 30% 611945.78 1131200.00 4328008.34
Explanation on holding ratio different from the voting right ratio for minority shareholders:
Other explanation:
(3) Main finance of the important non-wholly-owned subsidiary
Unit: RMB/CNY
Ending balance Opening balance
Curren Non Curren Non
Subsid Non Total Non Total
Curren Total t current Curren Total t current
iary current liabilit current liabiliti
t assets assets liabiliti liabilit t assets assets liabiliti liabiliti
assets ies assets es
es ies es es
Big 15952 16501 14931 1279 15058 13915 14339 12723 12723
54904238
Kitche 6005. 6347. 0334. 252.02 9586. 3404. 2243. 4801. 4801.
342.50838.61
n 38 88 72 74 92 53 67 67
Unit: RMB/CNY
Current Period Last Period
Total Cash flow Total Cash flow
Subsidiary Operating comprehen from Operating comprehen from
Net profit Net profit
revenue sive operation revenue sive operation
income activity income activity
Big 32345860 2039819. 2039819. 30582601 3932882. 3932882. 8165888.
358869.31
Kitchen 5.38 28 28 0.58 04 04 96
Other explanation:
(4) Significant restrictions on the use of enterprise group assets and pay off debts of the enterprise group
(5) Financial or other supporting offers to the structured entity included in consolidated financial statement
Other explanation:
268深圳市深粮控股股份有限公司2021年年度报告全文
2. Transaction that has owners equity shares changed in subsidiary but still with controlling rights
(1) Owners equity shares changed in subsidiary
(2) Impact on minority’s interest and owners’ equity attributable to parent company
Unit: RMB/CNY
Dongguan Logistics
Purchase cost/disposal consideration
--Cash 321680000.00
--Fair value of non-cash assets
Purchase cost/total disposal consideration 321680000.00
Less: Subsidiary's share of net assets calculated based on the
158426927.29
proportion of acquired/disposed equity
Difference 163253072.71
Including: Adjust the capital reserve 163253072.71
Adjusted surplus reserve
Adjusted undistributed profit
Other explanation
3. Equity in joint venture and associated enterprise
(1) Important joint venture or associated enterprise
Share-holding ratio Accounting
treatment on
Joint
Main place of Registration investment for
venture/Associ Business nature
operation place Directly Indirectly joint venture
ated enterprise
and associated
enterprise
Zhuhai
Hengxing Feed Aquatic fee and
Zhuhai Zhuhai 40.00% Equity method
Industrial Co. animal fee
Ltd.Shenliang
Equity
Intelligent
investment;
Wulian Equity Shenzhen Shenzhen 49.02% Equity method
investment
Investment
consultant
Fund
269深圳市深粮控股股份有限公司2021年年度报告全文
(Shenzhen)
Partnership
Enterprise
(Limited)
Description of the percentage of shareholding in joint ventures or associates different from the percentage of voting rights:
Has major influence with less 20% voting rights hold or has minor influence with over 20% (20% included) voting rights hold:
(2) Main financial information of the important joint venture
Unit: RMB/CNY
Ending balance/Current period Opening balance/Last period
Shenliang Intelligent Shenliang Intelligent
Wulian Equity Wulian Equity
Zhuhai Hengxing Feed Zhuhai Hengxing Feed
Investment Fund Investment Fund
Industrial Co. Ltd. Industrial Co. Ltd.(Shenzhen) Partnership (Shenzhen) Partnership
Enterprise (Limited) Enterprise (Limited)
Current assets 109747137.54 20142644.00 98242527.52 20459246.10
Including: cash and cash
equivalent
Non current assets 26046337.28 36989582.89 29365806.23 33102244.01
Total assets 135793474.82 57132226.89 127608333.75 53561490.11
Current liabilities 56918240.71 44972658.51
Non current liabilities 445371.69 537345.69
Total liabilities 57363612.40 45510004.20
Minority's interest
Shareholders' equity
attributable to the 78429862.42 57132226.89 82098329.55 53561490.11
parent company
Share of net assets
calculated by 31371944.97 28006217.62 32839331.82 26255842.45
shareholding ratio
Adjustment items 162707.80 -174.47 162707.80 -174.47
--Goodwill
--Unrealized profit of
internal trading
-- Other 162707.80 -174.47 162707.80 -174.47
Book value of equity
investment in joint 31534652.77 28006043.15 33002039.62 26255667.98
venture
Fair value of the equity
investment of joint
270深圳市深粮控股股份有限公司2021年年度报告全文
ventures with public
offers concerned
Operating income 764877371.22 617635043.97
Financial expenses
Income tax expenses
Net profit -978023.06 3570736.78 3413330.99 656353.79
Net profit of
discontinuing operation
Other comprehensive
income
Total comprehensive
-978023.063570736.783413330.99656353.79
income
Dividends received
from joint venture in
the year
Other explanation
(3) Main financial information of the important associated enterprise
Unit: RMB/CNY
Ending balance/Current Period Opening balance/Last Period
Current assets
Non current assets
Total assets
Current liabilities
Non current liabilities
Total liabilities
Minority's interest
Equity attributable to shareholder of parent
company
Share of net assets measured by
shareholding
Adjustment
--Goodwill
--Unrealized profit of internal trading
-- Other
Book value of equity investment in
associated enterprise
Fair value of the equity investment of
associated enterprise with public offers
concerned
271深圳市深粮控股股份有限公司2021年年度报告全文
Operating income
Net profit
Net profit of discontinuing operation
Other comprehensive income
Total comprehensive income
Dividends received from associated
enterprise in the year
Other explanation
(4) Financial summary for non-important Joint venture and associated enterprise
Unit: RMB/CNY
Ending balance/Current Period Opening balance/Last Period
Joint venture: -- --
Amount based on share-holding ratio -- --
Associated enterprise: -- --
Total book value of investment 13949747.57 13957440.24
Amount based on share-holding ratio -- --
--Net profit -7692.67 378188.39
--Total comprehensive income -7692.67 378188.39
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
Unit: RMB/CNY
Un-recognized losses not
Joint venture/Associated Cumulative un-recognized recognized in the Period (or Cumulative un-recognized
enterprise losses net profit enjoyed in the losses at period-end
Period)
Changzhou Shenbao Chacang
8742655.05772485.239515140.28
E-business Co. ltd.Shenzhen Shichumingmen
Catering Management Co. 4815325.70 4815325.70
Ltd.Other explanation
272深圳市深粮控股股份有限公司2021年年度报告全文
(7) Unconfirmed commitment with joint venture investment concerned
(8) Intangible liability with joint venture or affiliates investment concerned
4. Major conduct joint operation
Main place of Shareholding ratio/ shares enjoyed
Name Registration place Business nature
operation Directly In-directly
Share-holding ratio or shares enjoyed different from voting right ratio:
If the co-runs entity is the separate entity basis of the co-runs classification:
Other explanation
5. Structured body excluding in consolidate financial statement
Explanation:
6. Other
X. Disclosure of risks relating to financial instruments
Our business operation makes the Company exposed to various financial risks: credit risk liquidity risk and
market risk (Including exchange rate risk interest rate risk and other price risk).The Company disperses the risk of financial instruments through appropriate diversified investment and business
portfolio and reduces the risk concentrating on a single industry specific region or specific counterparty by
formulating corresponding risk management policies.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 arises mainly from monetary funds note receivable account receivable other
receivable debt investments financial guarantee contracts the debt instrument investments measured at fair
value and with its variation reckoned in current gain/loss that are not included in the scope of impairment
assessment and derivative financial assets etc. As at the balance sheet date the carrying value of the financial
assets represented its maximum exposure to credit risk;
Monetary funds of the Company are mainly the bank deposits placed with reputable state-owned banks and other
larger and medium-sized listed banks with high credit ratings we believes that it is not exposed to significant
credit risks and will hardly incur significant losses due to the bank defaults.Furthermore for bill receivable account receivables and other account receivables the Company establishes
relevant policies to control exposure of credit risk. The Company appraises customers’ credit quality based on
their financial position possibility to obtain guarantee from third parties credit history and other factors such as
273深圳市深粮控股股份有限公司2021年年度报告全文
prevailing market conditions and set corresponding credit terms. Customers’ credit history would be regularly
monitored by the Company. For those customers who have bad credit history the Company will call collection in
written form shorten credit term or cancel credit term to ensure its overall credit risk is under control.As of 31 December 2021 the account receivable from top five customers accounted for 43.18% of the Company’s
total account receivable.The maximum credit risk exposure equals to the carrying value of each financial asset in balance sheet (including
derivative financial instrument). The Company has not provided any guarantee which would otherwise make theCompany exposed to credit risk except for the financial guarantee carried in Note “X. Related party and relatedtransaction”
Liquidity risk
Liquidity risk refers to the risk that a company will run short of funds to meet its obligations settled by delivering
cash or other financial assets.It is the Company’s policy to ensure that sufficient cash is available to meet debt obligations as they fall due.Liquidity risk is centrally controlled by the Company’s finance department. By monitoring cash balances readily
realizable marketable securities and rolling forecasts of cash flows for the next 12 months the finance department
ensures that the company has sufficient funds to service its debts under all reasonable forecasts. In addition it
continues to monitor whether borrowing agreement is complied with and seeks for commitment from major
financial institutions for provision of sufficient back-up fund so as to satisfy capital requirement in a short and
long term.Market risk
The market risk of financial instruments refers to the risk that the fair value or future cash flows of financial
instruments will fluctuate due to changes in market prices including exchange rate risk interest rate risk and other
price risks.Interest risk
Interest rate risk refers to the risk that the fair value or future cash flows of financial instruments will fluctuate due
to changes in market interest rates.Interest-bearing financial instruments with fixed rates and floating rates expose the Company to fair value interest
rate risk and cash flow interest rate risk respectively. The Company determines the ratio of fixed interest rate
instruments to floating interest rate instruments according to the market environment and maintains an
appropriate portfolio of fixed and floating interest rate instruments through regular review and monitoring. When
necessary the Company will use interest rate swap instruments to hedge interest rate risk.Exchange rate risk
Exchange rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to
274深圳市深粮控股股份有限公司2021年年度报告全文
the changes in foreign exchange rates.The Company continuously monitors the foreign currency transactions and the scale of foreign currency assets
and liabilities to minimize foreign exchange risks. In addition the company may also sign forward foreign
exchange contracts or currency swap contracts to avoid exchange rate risks. During the current period and the
previous period the Company did not sign any forward foreign exchange contracts or currency swap contracts.Other price risk
Other price risk refers to the risk that the fair value or future cash flow of financial instruments will fluctuate due
to changes in market prices other than exchange rate risk and interest rate risk.Other price risk of the Company arises mainly from investment in various types of equity instruments and is
exposed to the risks of changes in the prices of equity instruments.XI. Disclosure of fair value
1. Ending fair value of the assets and liabilities measured by fair value
Unit: RMB/CNY
Ending fair value
Item
First-order Second-order Third-order Total
I. Sustaining measured
--------
by fair value
(i) Trading financial
921099.27210139671.23211060770.50
assets
1.Financial assets
measured by fair value
and with variation 921099.27 210139671.23 211060770.50
reckoned into current
gains/losses
(2)Equity instrument
921099.27921099.27
investment
(ii) Other debt
210139671.23210139671.23
investments
(iii) Investment in other
57500.0057500.00
equity instruments
Total assets
continuously measured 921099.27 210197171.23 211118270.50
at fair value
II. Non-persistent
--------
measure
275深圳市深粮控股股份有限公司2021年年度报告全文
2. Recognized basis for the market price sustaining and non-persistent measured by fair value on
first-order
3. Valuation technique and qualitative and quantitative information on major parameters for the fair value
measure sustaining and non-persistent on second-order
4. Valuation technique and qualitative and quantitative information on major parameters for the fair value
measure sustaining and non-persistent on third-order
5. Adjustment information and sensitivity analysis of unobservable parameters for the fair value measure
sustaining and non-persistent on third-order
6. Sustaining items measured by fair value as for the conversion between at all levels reasons for
conversion and policy for conversion time point
7. Changes of valuation technique in the Period
8. Financial assets and liability not measured by fair value
9. Other
XII. Related party and related transactions
1. Parent company
Ratio of
Ratio of voting right
Parent company Registration place Business nature Registered capital shareholding on the
on the Company
Company
Investing in
industry
Shenzhen Food
development
Materials Group Shenzhen 5000 million Yuan 63.79% 63.79%
operation and
Co. Ltd
management of
the own property
Explanation on parent company of the enterprise
Ultimate controller of the Company is Shenzhen Municipal People’s Government State-owned Assets Supervision & Administration
Commission
Other explanation:
2. Subsidiary
Subsidiary of the Company found more in Note IX-Equity in other entity
276深圳市深粮控股股份有限公司2021年年度报告全文
3. Joint venture and associated enterprise
Important joint venture and associated enterprise of the Company found more in the in Note IX-Equity in other entity
Other cooperative enterprise and joint venture that have related transaction with the Company in the Period or occurred in previous
period:
Joint venture/Associated enterprise Relationship with the Enterprise
Other explanation
4. Other related party
Other related party Relationship with the Enterprise
Shenzhen Agricultural Products Group Co. Ltd Holding subsidiary of parent company
Shenzhen Shenliang Cold Transport Co. Ltd. Holding subsidiaries of the Company's associates
Former shareholder of the Company Controlled by the same
Shenzhen Investment Holdings Co. Ltd.ultimate controlling party
Dongguan Fruit Vegetable Non-staple Food Trading Market
Minority shareholder of controlling subsidiary
Co. Ltd.Yao Jicheng Minority shareholder of controlling subsidiary
Shenzhen Higreen International Agricultural Products Logistic
Holding subsidiary of parent company
Management Co. Ltd
Guangxi Higreen Business Management Co. Ltd. Holding subsidiary of parent company
Shenzhen Qianhai Nongmai World E-Commerce Co. Ltd Holding subsidiary of parent company
Changsha Mawangdui Agricultural Products Co. Ltd. Holding subsidiary of parent company
Xi’an Moore Agricultural Products Co. Ltd. Holding subsidiary of parent company
Shenzhen Chinese Cabbage Technology Co. Ltd. Holding subsidiary of parent company
Shenzhen Qianhai Agricultural Products Exchange Co. Ltd. Holding subsidiary of parent company
Huizhou Higreen Agricultural Products International Logistics
Holding subsidiary of parent company
Co. Ltd.Chengdu Agricultural Products Center Wholesale Market Co.Holding subsidiary of parent company
Ltd.Guangxi Higreen Agricultural Products International Logistics
Holding subsidiary of parent company
Co. Ltd.Shenzhen Shennong Kitchen Co. Ltd Holding subsidiary of parent company
Shenzhen Zhenchu Supply Chain 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
Zhanjiang Changshan (Shenzhen) Ecological Aquaculture Co.Wholly-owned subsidiary of parent company
Ltd
277深圳市深粮控股股份有限公司2021年年度报告全文
Other explanation
5. Related transaction
(1) Goods purchasing labor service providing and receiving
Goods purchasing/labor service receiving
Unit: RMB/CNY
Related party Related transaction Current Period Approved Whether Last Period
content transaction more than
limit the
transactio
n limit
(Y/N)
Shenzhen Shenliang Cold Warehousing 1931243.32 1931243.32 N 797104.71
Transport Co. Ltd. Services/Transportat
ion services
Shenzhen Shenyuan Data Information 18568969.37 18568969.37 N 11652658.88
Tech. Co. Ltd software
development
Shenzhen Duoxi Equity Cleaning services 22641.51 22641.51 N
Investment Fund fee
Management Co. Ltd.Shenzhen Shennong Purchasing Goods 5239.90 5239.90 N
Kitchen Co. Ltd
Shenzhen Food Materials Management service 142533.62 142533.62 N
Group Co. Ltd fee
Zhanjiang Changshan Management service 360647.10 360647.10 N
(Shenzhen) Ecological fee
Aquaculture Co. Ltd
Goods sold/labor service providing
Unit: RMB/CNY
Related party Related transaction content Current period Last period
Guangxi Higreen Agricultural
Products International Grain and oil sales 39143.36 8240.71
Logistics Co. Ltd.Guangxi Higreen Business
Grain and oil sales 8240.71
Management Co. Ltd.Shenzhen Qianhai Nongmai
Grain and oil sales 33175.84 40700.34
World E-Commerce Co. Ltd
278深圳市深粮控股股份有限公司2021年年度报告全文
Shenzhen Duoxi Equity
Grain and oil
Investment Fund 4120.35 38083.07
sales/Cleaning services fee
Management Co. Ltd.Shenzhen Agricultural
Grain and oil sales 56920.35
Products Group Co. Ltd
Shenzhen Shenliang Cold Grain and oil
245944.66106873.75
Transport Co. Ltd. sales/Warehousing Services
Shenzhen Shennong Kitchen
Grain and oil sales 801338.84 108027.61
Co. Ltd
Shenzhen Investment
Grain and oil sales 10300.88 24250.00
Holdings Co. Ltd.Shenzhen Shenyuan Data
Grain and oil sales/ lease 30697.17 8217.70
Tech. Co. Ltd
Shenzhen Agricultural
Tea Sales 36654.85 2299.12
Products Group Co. Ltd
Shenzhen Food Materials
Asset Management 1201379.91 3725827.37
Group Co. Ltd
Shenzhen Food Materials
Tea Sales 46954.67 2600.00
Group Co. Ltd
Chengdu Agricultural
Products Center Wholesale Grain and oil sales 103008.85
Market Co. Ltd.Huizhou Higreen Agricultural
Products International Grain and oil sales 72106.20
Logistics Co. Ltd.Shenzhen Qianhai
Agricultural Products Grain and oil sales 8240.72
Exchange Co. Ltd.Shenzhen Chinese Cabbage
Grain and oil sales 8453.09
Technology Co. Ltd.Shenzhen Medical Materials
Grain and oil sales 2060.18
Co. Ltd.Shenzhen Zhenchu Supply
Grain and oil sales 6770130.60
Chain Co. Ltd.Xi’an Moore Agricultural
Grain and oil sales 20601.77
Products Co. Ltd.Changsha Mawangdui
Agricultural Products Co. Grain and oil sales 20644.25
Ltd.
279深圳市深粮控股股份有限公司2021年年度报告全文
Shenzhen Shennong Land
Grain and oil sales 17168.15
Co. Ltd.Explanation on goods purchasing labor service providing and receiving
(2) Related trusteeship management/contract & entrust management/ outsourcing
Trusteeship management/contract:
Unit: RMB/CNY
Managed
Managed
earnings
Entrusting earnings
Client/Contract Trustee/assets confirmed in
party/Contracto Trustee /start Trustee /ends /pricing of the
-out party contract the period /
r contract
contract
earnings
earnings
Related managed/contract:
Entrusted management/outsourcing:
Unit: RMB/CNY
Managed
Managed
earnings
Entrusting earnings
Client/Contract Trustee/assets confirmed in
party/Contracto Trustee /start Trustee /ends /pricing of the
-out party contract the period /
r contract
contract
earnings
earnings
Related management/ outsourcing:
(3) Related lease
As a lessor for the Company:
Unit: RMB/CNY
Lease income recognized in Lease income recognized last
Lessee Assets type
the Period Period
Shenzhen Shichumingmen
Catering Management Co. Operating site 666258.42
Ltd.Shenzhen Shenyuan Data
Operating site 505162.86 433320.00
Technology Co. ltd.Shenzhen Duoxi Equity
Investment Fund Office space 251497.14 257255.00
Management Co. Ltd.As lessee:
Unit: RMB/CNY
280深圳市深粮控股股份有限公司2021年年度报告全文
Lease income recognized in Lease income recognized last
Lessor Assets type
the Period Period
Shenzhen Food Materials
Office space 358057.14 680308.56
Group Co. Ltd
Explanation on related lease
(4) Related guarantee
As guarantor
Unit: RMB/CNY
Whether the guarantee
Secured party Guarantee amount Guarantee start date Guarantee expiry date
has been fulfilled
Changzhou Shenbao
Until the loan principal
Chacang E-business 5000000.00 2011/12/20 N
and interest are settled
Co. ltd.As secured party
Unit: RMB/CNY
Whether the guarantee
Guarantor Guarantee amount Guarantee start date Guarantee expiry date
has been fulfilled
Dongguan Fruit and
Vegetable Food Market 18587157.80 2020/10/21 2032/10/19 N
Co. Ltd
Explanation on related guarantee: The Company acquired 49% minority interest of Dongguan Logistics held by Dongguan Fruit and
Vegetable Food Market Co. Ltd in the Period. On January 14 2022 Dongguan Fruit and Vegetable Food Market Co. Ltd no longer
provides guarantee to Dongguan Logistics- the subsidiary of the Company.
(5) Related party’s borrowed funds
Unit: RMB/CNY
Related party Borrowing amount Starting date Maturity date Note
Borrowing
Lending
(6) Related party’s assets transfer and debt reorganization
Unit: RMB/CNY
Related party Related transaction content Current Period Last Period
281深圳市深粮控股股份有限公司2021年年度报告全文
(7) Remuneration of key manager
Unit: RMB/CNY
Item Current Period Last Period
(8) Other related transaction
6. Receivable and payable of related party
(1) Receivable item
Unit: RMB/CNY
Ending balance Opening balance
Item Related party
Book balance Bad debt provision Book balance Bad debt provision
Account
receivable
Shenzhen
Shenliang Cold 116476.25 1149.36 113286.17 7029.57
Transport Co. Ltd.Shenzhen
Shennong Kitchen 115208.00 1152.08 63672.00 636.72
Co. Ltd
Shenzhen Duoxi
Equity Investment
8701.0087.01
Fund Management
Co. Ltd.Shenzhen Qianhai
Nongmai World
38259.42382.59
E-Commerce Co.Ltd
Shenzhen Food
Materials Group 28632.00 286.32 740878.31 7408.78
Co. Ltd
Shenzhen
Agricultural
2598.0025.98
Products Group
Co. Ltd
Guangxi Higreen
Agricultural
18624.00186.24
Products
International
282深圳市深粮控股股份有限公司2021年年度报告全文
Logistics Co. Ltd.Huizhou Higreen
Agricultural
Products 37248.00 372.48
International
Logistics Co. Ltd.Shenzhen
Shennong Land 14744.00 147.44
Co. Ltd.Shenzhen Medical
2328.0023.28
Materials Co. Ltd.Shenzhen Zhenchu
Supply Chain Co. 5874880.36 58748.80
Ltd.Shenzhen
Shenyuan Data 5940.00 59.40
Tech. Co. Ltd
Other account
receivable
Shenzhen
Shenliang Cold 578.00 5.78
Transport Co. Ltd.Shenzhen Higreen
International
Agricultural
50000.0050000.00
Products Logistic
Management Co.Ltd
Zhanjiang
Changshan
(Shenzhen)
5520.005520.005520.005520.00
Ecological
Aquaculture Co.Ltd
Shenzhen
Shenyuan Data 30000.00 300.00 8972895.54 89728.96
Tech. Co. Ltd
Changzhou
Shenbao Chacang
24608742.4622187644.1824494677.0722007578.79
E-business Co.ltd.
283深圳市深粮控股股份有限公司2021年年度报告全文
Shenzhen
Shichumingmen
Catering 2092477.67 990192.72 2092197.67 581383.34
Management Co.Ltd.Shenzhen
Investment 415644.52 415644.52
Holdings Co. Ltd.Shenzhen Food
Materials Group 1000.00
Co. Ltd
Yao Jicheng 48000.00 480.00
(2) Payable item
Unit: RMB/CNY
Item Related party Ending book balance Opening book balance
Dividend payable
Shenzhen Investment
2690970.142690970.14
Management Co. Ltd
Other account payable
Shenzhen Shenliang Cold
102790.002790.00
Transport Co. Ltd.Shenzhen Food Materials
146162941.72146520998.86
Group Co. Ltd
Zhanjiang Changshan
(Shenzhen) Ecological 8030954.17 8009954.17
Aquaculture Co. Ltd
Shenzhen Duoxi Equity
Investment Fund 41486.00 41486.00
Management Co. Ltd.Shenzhen Shichumingmen
Catering Management Co. 209275.00 184275.00
Ltd.Shenzhen Investment
3510297.203510297.20
Management Co. Ltd
Shenzhen Shenyuan Data
2000330.53
Tech. Co. Ltd
Account received in advance
284深圳市深粮控股股份有限公司2021年年度报告全文
Shenzhen Shenliang Cold
210.00
Transport Co. Ltd.
7. Related party commitment
8. Other
XIII. 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. Modification and termination of share-based payment
Nil
5. Other
Nil
XIV. Commitment or contingency
1. Important commitments
Important commitments on balance sheet date
The Company has no important commitments that need to disclosed up to 31 December 2021.
2. Contingency
(1) Contingency on balance sheet date
Lawsuits
(1)The sales and purchase contract disput between Hualian Company and Zhuhai Doumen Huabi Trading Co. Ltd
(hereinafter referred to as "Zhuhai Huabi")
285深圳市深粮控股股份有限公司2021年年度报告全文
Concerning the Hualian Company (plaintiff) bring a suit against Zhuhai Huabi (defendant) the People’s Court of
Shenzhen Luohu District has made the first instance effective judgment in 2007: 1. The defendant should repay
the plaintiff payment for goods of 2396300 yuan; 2. The defendant should pay the plaintiff liquidated damages of
239600 yuan; 3. Court acceptance fee of 33200 yuan should be borne by the defendant.
In 2005 Zhuhai Huabi stopped production and its legal representative was arrested by the public security organs.It was found that Zhuhai Huabi had been cancelled.As of the date of the audit report Hualian Company has set aside 100.00% of bad debt reserves for the receivables
of 2396300 yuan from Zhuhai Huabi.
(2) Disputes over import agency contract among SZCG Hualian Company and Guangzhou Jinhe Feed Co.
Ltd.(hereinafter referred to as Guangzhou Jinhe) Huang Xianning
In the case of the plaintiff SZCG and Hualian Company versus the defendant Guangzhou Jinhe and Huang
Xianning over the import and export agency contract disputes the Futian District People’s Court made the
first-instance judgment in 2015: 1. The defendant Guangzhou Jinhe should pay a total of 10237400 yuan to
SZCG and Hualian Company within 10 days from the effective date of the judgment; 2. If it fails to perform its
pecuniary obligations within the period specified by the judgment it shall pay double the interest on the debt for
the delayed in performance in accordance with Article 253 of the Civil Procedure Law of the People’s Republic of
China; 3. The case acceptance fee of 83200 yuan shall be borne by Guangzhou Jinhe.As Guangzhou Jinhe dissatisfied with the above-mentioned first-instance judgment it appealed to the Shenzhen
Intermediate People's Court. On March 30 2017 the Shenzhen Intermediate People's Court issued a
second-instance judgment which rejected the appeal of Guangzhou Jinhe and upheld the original judgment.Subsequently SZCG and Hualian Company applied to the Court of first instance for the enforcement.As of the date of the audit report the case is currently still being executed and the other party has not paid any
money. SZCG has made a provision for bad debts at a rate of 100.00% for the receivable payment of 10455600
yuan from Guangzhou Jinhe.According to the "Letter of Commitment from Shenzhen Fude State Capital Operation Co. Ltd. on the Pending
Litigation of Shenzhen Cereals Group Co. Ltd." Shenzhen Fude State Capital Operation Co. Ltd. (now renamed
Shenzhen Food Materials Group Co. Ltd.) will bear the compensation or losses caused by the lawsuit on its
behalf for any claims compensation losses or expenditures caused by the disputes over import agency contract
among SZCG and its holding subsidiaries with Guangzhou Jinhe and Huang Xianning.
(3) Contract disputes between Hualian Company and Foshan Shunde Huaxing Feed Factory (hereinafter referred
to as "Huaxing Feed Factory")
In August and October 2007 Hualian Company sold products to Huaxing Feed Factory and received commercial
acceptance bills totaling 2958600 yuan. Due to the company’s failure to repay the overdue payment Hualian
Company filed a lawsuit with the Shunde District People’s Court of Foshan City on October 29 2007 requesting
Huaxing Feed Factory to repay the payment and pay the corresponding interest. From June to July 2011 a total of
1638900 yuan of the company’s bankruptcy assets was recovered. As of the date of the audit report Hualian
286深圳市深粮控股股份有限公司2021年年度报告全文
Company had a receivable payment of 1319700 yuan from Huaxing Feed Factory. This amount has been
withdrawn bad debt reserves by 100.00%.
(4) Mung bean business disputes between SZCG and Jilin Tongyu County Shengda Company (hereinafter referred
to as "Shengda Company")
On August 26 2010 the Shenzhen Futian District People’s Court accepted the case of the plaintiff SZCG versus
the defendant Shengda Company over an entrustment contract dispute. Upon mediation both parties reached a
mediation agreement voluntarily: 1. It’s confirmed that the defendant Shengda Company still owes the plaintiff
SZCG the repurchase payment of 7.492 million yuan and the repurchase payment interest of 2.8 million yuan
before September 3 2009. 2. The defendant Shengda Company should pay the first installment of 1 million yuan
to the plaintiff SZCG before October 30 2010 and should pay 1 million yuan at the end of each month from
November 2010 to March 2011 and should pay 492000 yuan before the end of April. 2011 totaling 6492000
yuan. 3. If the defendant Shengda Company can pay the above amount in full and on schedule it does not need to
pay the remaining principal of 1 million yuan and the interest of 2.8 million yuan. If any of the above sums are not
paid in full and on schedule the plaintiff may apply to the court for enforcement of all the claims set out in the
first item above.After the mediation agreement came into effect Shengda Company did not fully fulfill its repayment obligations
and SZCG has applied for compulsory execution. As of the date of the audit report the book receivables
amounted to 5602500 yuan and the execution of the remaining amounts was highly uncertain the Company has
fully made provisions for bad debts of 5602500 yuan for this payment.
(5) Contract disputes of the Company’s subsidiaries Shenbao Rock Tea Jufangyong Holdings Mount Wuyi
Jiuxing Tea Co. Ltd. (hereinafter referred to as “Jiuxing Company”) Fujian Wuyishan Yuxing Tea Co. Ltd.(hereinafter referred to as “Yuxing Company”) Xingjiu Tea Co. Ltd. and Chen Yuxing Chen Guopeng
On December 3 2018 due to the separation contract dispute based on the arbitration clause in the original
Formal Agreement Regarding the Separation of Fujian Wuyishan Shenbao Yuxing Tea Co. Ltd. the arbitration
applicants Shenbao Rock Tea and Jufangyong Holdings filed an arbitration with the Shenzhen Court of
International Arbitration with Jiuxing Company Yuxing Company Xingjiu Tea Co. Ltd. Chen Yuxing and Chen
Guopeng as the respondents requesting: 1. To rule that the respondent Jiujiuxing Company should pay 5272900
yuan and liquidated damages of 1581900 yuan to the applicant Shenbao Rock Tea totaling 6854800 yuan; 2. To
rule that the respondents Yuxing Company Xingjiu Company Chen Yuxing and Chen Guopeng shall be jointly
and severally liable for the above-mentioned receivables and liquidated damages to the applicant Rock Tea; 3. To
rule that the respondent Yijiuxing Company shall pledge 19 designated trademarks to the applicant Jufangyong
Holdings and cooperate with the corresponding registration procedures for trademark pledge; 4. To rule that all
the respondents shall bear the attorney’s fee of 190000 yuan paid by the applicant for this case the preservation
fee and other expenses incurred in this arbitration (the applicant reserves the right to pursue the remaining
attorney’s fees); 5. To rule that the respondents shall bear all arbitration fees in this case.On April 18 2019 the Shenzhen Court of International Arbitration held a hearing for the arbitration case. On May
287深圳市深粮控股股份有限公司2021年年度报告全文
20 2021 the Shenzhen Court of International Arbitration issued a ruling that: 1. Wuyishan Jiuxing Tea Co. Ltd.
should compensate Jufangyong Company and Shenbao Rock Tea Company for losses of receivables and
liquidated damages of 4798369.95 yuan; 2. Fujian Wuyishan Yuxing Tea Co. Ltd. Xingjiu Tea Co. Ltd. Chen
Yuxing and Chen Guopeng shall be jointly and severally liable for the above payment obligations of Wuyishan
Jiuxing Tea Co. Ltd.; 3. The arbitration fee in this case of 104953 yuan shall be paid by the five respondents to
the two applicants; 4. Two arbitrators’ expenses of 4000 yuan shall be paid directly by the five respondents to the
two applicants. After the arbitration award came into effect because the respondents refused to repay the
applicants applied to the court for enforcement. On August 5 2021 the two parties signed an enforcement of
settlement agreement. The respondents should pay receivables liquidated damages attorney’s fees and arbitration
fees to the applicants totaling 5097322.95 yuan payment shall be made in 18 installments with the respondents
paying 1.6 million yuan in the first installment and paying 200000 yuan per month thereafter and the final
payment is 297322.95 yuan (i.e. the payment will be completed before January 31 2023). As of the date of the
audit report the applicants received a total of 2.8 million yuan.
(6) Sales contract disputes between Hualian Company and Dalian Liangshuntong Supply Chain Management Co.
Ltd. (hereinafter referred to as “Liangshuntong Company”)
1) In the case of the plaintiff Liangshuntong Company versus the defendant Hualian Company over a sales
contract dispute ([2019] Yue 0304 Min Chu No. 49562) the Futian District People’s Court made a first-instance
civil judgment on July 3 2020 that: 1. The plaintiff Liangshun Tongtong Company shall pay Hualian Company
595800 yuan within ten days from the effective date of this judgment; 2. Reject the claims of Liangshuntong
Company; 3. Reject other counterclaims of Hualian Company; 4. The plaintiff Liangshuntong Company shall
prepay the litigation fee of 208900 yuan which shall be borne by the plaintiff and the defendant Hualian
Company shall prepay the counterclaim acceptance fee of 113000 yuan of which 1800 yuan shall be borne by
the plaintiff and 111200 yuan shall be borne by the defendant. After receiving the judgment the plaintiff
Liangshuntong refused to accept it and appealed to the Shenzhen Intermediate People’s Court. The Shenzhen
Intermediate People’s Court made a final ruling on October 29 2021 and the ruling is as follows: rejecting the
appeal and upholding the original judgment. The Futian District People’s Court has accepted the enforcement
application submitted by Hualian Company.
2) In the case of the plaintiff Hualian Company versus the defendant Liangshuntong Company over a contract
dispute (Case No. [2020] Yue 0304 Min Chu No. 2824) the Futian District People’s Court delivered the Civil
Judgment of the first instance on December 31 2020 ruling that 1. The defendant Liangshuntong Company shall
pay Hualian Company advance fees of 461900 yuan and capital cost of 4030000 yuan within ten days from the
effective date of the judgment; 2. Liangshuntong Company shall pay the capital occupation fee (based on 461900
yuan with an annual interest rate of 10.00% calculating from December 11 2019 to the date of paying off the full
amount) to Hualian Company within ten days from the effective date of the judgment; 3. Case acceptance fee of
42700 yuan shall be borne by the defendant Liangshuntong Company. After receiving the judgment
Liangshuntong appealed to the Shenzhen Intermediate People’s Court on January 22 2021. The Shenzhen
Intermediate People’s Court made a final ruling on November 9 2021 and the ruling is as follows: rejecting the
288深圳市深粮控股股份有限公司2021年年度报告全文
appeal and upholding the original judgment. As of the date of the audit report Shenzhen Futian District People’s
Court has accepted the enforcement application submitted by Hualian Company.
(7) Disputes over construction engineering contract between Heilongjiang Hongxinglong Farms & Land
Reclamation Shenxin Grain Industrial Park Co. Ltd. (hereinafter referred to as “Hongxinglong”) and
Heilongjiang Zhishengda Construction Engineering Co. Ltd. (hereinafter referred to as “Zhishengda Company”)
In April 2020 Zhishengda Company filed a lawsuit with Hongxinglong People’s Court of Heilongjiang Provincewith Hongxinglong as the defendant requesting: 1. To confirm that the “Letter on Rectification of CompletedProjects and Cancellation of Not Constructed Projects” issued by Hongxinglong on April 7 2020 does not have
the effect of terminating the contract the rescission contract made by it is invalid and judge that the defendant
Hongxinglong should continue to perform the contract (the project cost required to perform the contract is
5137800 yuan). 2. The litigation fee and other legal costs shall be borne by Hongxinglong.
On July 29 2020 Hongxinglong filed a counterclaim with the first-instance court requesting the court: 1. To
confirm the validity of the cancellation of the construction contract between Hongxinglong and Zhishengda in
accordance with the law. 2. To rule that the Zhishengda should pay Hongxinglong liquidated damages of
1003200 yuan of which liquidated damages for overdue completion of the project of 253200 yuan repair costs
for unqualified project quality of about 240000 yuan (the specific amount is to be determined by a third party)
liquidated damages for project manager’s absence from the construction site without permission of 500000 yuan
liquidated damages for the migrant worker’s collective petitions of 10000 yuan. 3. The counterclaim fee and
appraisal fee shall be borne by Zhishengda.On March 16 2021 the third-party appraisal agency applied by Zhishengda Company conducted an on-site
survey and conducted on-site appraisal for the engineering quantities. In July 2021 Hongxinglong went to the
Heilongjiang Farms & Land Reclamation Intermediate People’s Court to determine the third-party appraisal
agency (Heilongjiang Yage Construction Engineering Management Consulting Co. Ltd. now renamed Zhongyun
Project Management Co. Ltd.) to appraise the cost of project restoration. On September 22 Hongxinglong paid
20000 yuan for the appraisal. On October 27 2021 Zhongyun Project Management Co. Ltd. came to the site for
appraisal. On March 9 2022 the first-instance trial was held and the lawyers of both parties conducted
cross-examination but the third-party appraiser did not appear in court due to the impact of the pandemic so it is
planned to choose another day for the trial.
(8) Construction project subcontracting dispute case of Xu Anwu versus Dongguan Shenliang Logistics Co. Ltd.
Gansu Installation and Construction Group Co. Ltd. Guangdong Dianbai Construction Group Co. Ltd. and Xu
Jianqiang
On March 17 2021 the plaintiff Xu Anwu sued Dongguan Shenliang Logistics Co. Ltd. Gansu Installation and
Construction Group Co. Ltd. Guangdong Dianbai Construction Group Co. Ltd. and Xu Jianqiang as defendants
to the First People’s Court of Dongguan requesting: 1. The four defendants to immediately pay the plaintiff the
construction cost of 10.445 million yuan; 2. The four defendants to bear the litigation costs in this case.
289深圳市深粮控股股份有限公司2021年年度报告全文
On May 19 2021 Gansu Installation and Construction Group Co. Ltd. filed a counterclaim with Xu Anwu as the
counterclaim defendant requesting: 1. Xu Anwu to immediately return the overpaid 2566974.25 yuan to Gansu
Installation and Construction Group Co. Ltd.; 2. Xu Anwu to bear all litigation costs.The case has been heard on July 14 2021 and the court has not yet decided.
(9) Contract disputes between Hangzhou Jufangyong Commercial and Trading Co. Ltd. and Hangzhou Xingfu
Feixiang Commercial and Trading Co. Ltd.In July 2020 the plaintiff Hangzhou Jufangyong Commercial and Trading Co. Ltd. filed a lawsuit with Xiaoshan
Primary People’s Court Hangzhou against Hangzhou Xingfu Feixiang Commercial and Trading Co. Ltd. as the
defendant requesting to order: 1. The defendant to pay a total of 2454700 yuan for cooperative use fees and
water and electricity fees 2. The defendant to pay the western restaurant’s cooperative use fee of 699700 yuan and
water and electricity fees (according to the actual amount) from July 1 2019 to September 10 2019; 3. The
defendant to pay liquidated damages of 515300 yuan; 4. The defendant to pay liquidated damages (from April 16
2020 to the date of repayment with a base of 3154400 yuan and a monthly interest rate of 2%); 5. The defendant
to bear the litigation costs in this case.Xiaoshan Primary People’s Court Hangzhou ruled that Hangzhou Xingfu Feixiang Commercial and Trading Co.Ltd. entered bankruptcy proceedings and appointed an administrator in August 2020 it ruled to suspend the trial
of the case requiring the plaintiff to declare its claims directly to the administrator. On December 23 2020 the
Xiaoshan Primary People’s Court resumed the hearing of the case the administrator issued a claim confirmation
sheet and calculation details confirming the plaintiff’s claim principal of 2422494.80 yuan and interest of
166000.00 yuan totaling 2588494.80 yuan.
(10) Disputes over sales contract between Hangzhou Jufangyong Holdings Co. Ltd. and Hangzhou Jufangyong
Commercial and Trading Co. Ltd.On September 7 2021 the plaintiff Hangzhou Jufangyong Holdings Co. Ltd. Sued Hangzhou Jufangyong
Commercial and Trading Co. Ltd. as the defendant to the Hangzhou Binjiang District People’s Court requesting
to order: 1. The defendant to immediately pay the payment of 2816266.50 yuan; 2. The defendant to bear the
litigation costs in this case.On October 29 2021 Hangzhou Jufangyong Holdings Co. Ltd. and Hangzhou Jufangyong Commercial and
Trading Co. Ltd. reached a pre-litigation mediation and Hangzhou Jufangyong Commercial and Trading Co. Ltd.paid 2.816 million yuan to Hangzhou Jufangyong Holdings Co. Ltd. and paid off before November 30 2021.On December 8 2021 Hangzhou Binjiang District People’s Court issued a civil ruling paper ruling that the
mediation agreement reached by Hangzhou Jufangyong Holdings Co. Ltd. and Hangzhou Jufangyong
Commercial and Trading Co. Ltd. on October 29 2021 is valid and the parties shall consciously perform their
obligations in accordance with the provisions of the mediation agreement. If one party refuses to perform or fails
to perform all of its obligations the other party can apply to the people’s court for enforcement.On December 29 2021 Hangzhou Binjiang District People’s Court accepted the enforcement application of
290深圳市深粮控股股份有限公司2021年年度报告全文
Hangzhou Jufangyong Holdings Co. Ltd.On March 4 2022 Hangzhou Jufangyong Holdings Co. Ltd. submitted an application for “transfer ofenforcement to bankruptcy” to Hangzhou Intermediate People’s Court.
(11) Disputes over private lending between Shenzhen Shenshenbao Tea Culture Commercial Management Co.
Ltd. and Shenzhen Shi Chu Ming Men Catering Management Co. Ltd.On May 31 2021 the plaintiff Shenzhen Shenshenbao Tea Culture Commercial Management Co. Ltd. filed a
lawsuit with Shenzhen Nanshan District People’s Court against Shenzhen Shi Chu Ming Men Catering
Management Co. Ltd. as the defendant requesting to order: 1. The defendant to return the principal of 1183000
yuan borrowed from the plaintiff; 2. The defendant to pay the interest on borrowings of 171250.68 yuan to the
plaintiff; 3. The defendant to bear the litigation costs in this case.On December 1 2021 the court made a judgment in support of all the claims of Shenzhen Shenshenbao Tea
Culture Company.On January 20 2022 Nanshan Court accepted the enforcement application of Shenzhen Shenshenbao Tea Culture
Company.
(12) Disputes over special operating contract between Shanghai Baoyan Catering Co. Ltd. and Hangzhou
Fuhaitang Catering Management Chain Co. Ltd.On July 22 2021 the plaintiff Shanghai Baoyan Catering Co. Ltd. filed a lawsuit with Hangzhou Binjiang
District People’s Court against Hangzhou Fuhaitang Catering Management Chain Co. Ltd. as the defendant
requesting: 1. To cancel the Regional Agency Authorized Operating Agreement signed by the plaintiff and the
defendant; 2. The defendant to return the regional agency cooperation fee of 1880000 yuan and the cooperation
deposit of 80000 yuan to the plaintiff a total of 1960000 yuan; 3. The defendant to pay the liquidated damages
of 100000 yuan to the plaintiff; 4. The defendant to pay the attorney fee of 50000 yuan to the plaintiff; 5. The
defendant to bear the litigation fee in this case. The Hangzhou Binjiang District People’s Court issued a subpoena
on February 11 2022 confirming that the case number was (2021) Zhe 0108 Min Chu No. 5890 and the court
date set for March 17 2022.
(13) Sales contract disputes between Shuangyashan Shenliang Grain Base Co. Ltd. and Shanghai Zexi Industrial
Co. Ltd.On October 18 2021 the plaintiff Shuangyashan Shenliang Grain Base Co. Ltd. filed a lawsuit with the Shanghai
Putuo District People’s Court with Shanghai Zexi Industrial Co. Ltd. as the defendant requesting: 1. The
defendant to immediately issue and deliver a special VAT invoice amounting 25.2 million yuan for the payment of
goods to the plaintiff; if the defendant cannot issue the invoice it shall need to compensate the plaintiff for the tax
deduction loss of 2899115.04 yuan; 2. The defendant to compensate the plaintiff for the failure of the defendant
to issue invoices resulting in the plaintiff paying a late fee of 137376.63 yuan to the tax bureau; 3. The defendant
to compensate the plaintiff for travel expenses loss of 10860.61 yuan; 4. The defendant to bear the litigation costs
291深圳市深粮控股股份有限公司2021年年度报告全文
of this case. A court date has not yet been set.
(14) Sales contract disputes between Shuangyashan Shenliang Grain Base Co. Ltd. (hereinafter referred to as
“Shuangyashan Company”) and Tongliao Fada Grain Purchase and Storage Co. Ltd.On November 26 2021 the plaintiff Tongliao Fada Grain Purchase and Storage Co. Ltd. filed a lawsuit with
Keerqin District People’s Court of Tongliao City Inner Mongolia Autonomous Region with Shuangyashan
Company as the defendant requesting: 1. To cancel the six purchase contracts signed with Shuangyashan
Company; 2. Shuangyashan Company to return the corn purchase payment of 25.2 million yuan; 3. Shuangyashan
Company to pay the interest on occupation of funds of 4713603.11 yuan (tentatively until November 1 2021); 4.Shuangyashan Company to bear the litigation costs of this case.Shuangyashan Company filed an objection to jurisdiction with Keerqin District People’s Court of Tongliao City
Inner Mongolia Autonomous Region. On March 24 2022 Keerqin District People’s Court of Tongliao City Inner
Mongolia Autonomous Region made a ruling that Shuangyashan Company’s objection to jurisdiction was
established and the case was transferred to the People’s Court of Baoqing County Shuangyashan City
Heilongjiang Province. On April 1 2022 Tongliao Fada Grain Purchase and Storage Co. Ltd. filed an appeal with
Tongliao Intermediate People’s Court requesting to revoke the ruling on the objection to jurisdiction.
(15) Project construction contract disputes between Wuhan Jiangxia Yijian Construction Engineering Co. Ltd. and
Wuhan Jiacheng Biological Products Co. Ltd.I. On January 10 2022 the plaintiff Wuhan Jiangxia Yijian Construction Engineering Co. Ltd. filed a lawsuit
with Jiangxia District People’s Court of Wuhan City against Wuhan Jiacheng Biological Products Co. Ltd. as the
defendant requesting: 1. The defendant to immediately pay the project money of 4421888.97 yuan owed to the
plaintiff ; 2. The defendant to pay liquidated damages (based on the arrears of the project payment of 4421888.97
yuan and calculated at an annual interest rate of 15.4% from October 10 2019 to the date of payment and
temporarily calculated to be 1514927 yuan until December 30 2021) for the delayed payment of the project
payment to the plaintiff. The above two items add up to 5936815 yuan. 3. The defendant to bear all expenses of
the case including litigation fee appraisal fee and preservation fee.The plaintiff applied for property preservation (the preservation amount was more than 5.9 million yuan) and the
Jiangxia District Court ruled to freeze all bank accounts of Wuhan Jiacheng Biological Products Co. Ltd.The Jiangxia District People’s Court of Wuhan City set the court date as February 28 2022 and the case number
is (2022) E 0115 Min Chu No. 182.II. On February 25 2022 the counterclaim plaintiff Wuhan Jiacheng Biological Products Co. Ltd. filed a
counterclaim against Wuhan Jiangxia Yijian Construction Engineering Co. Ltd. as the counterclaim defendant
requesting: 1. To confirm that the Hubei Province Construction Project Contract with the project cost of
25965136.97 yuan signed by the plaintiff and the defendant on July 4 2017 for the Jiacheng Bio-Industrial Park
Construction Project (Phase I) is invalid; 2. To order the defendant of the counterclaim to submit the complete
completion data and completion report to the plaintiff of the counterclaim and assist in handling the completion
292深圳市深粮控股股份有限公司2021年年度报告全文
acceptance of the project and the relevant procedures for archiving and filing the engineering data in the urban
construction archives; 3. To compensate for the losses (from April 1 2018 to October 25 2019 calculated at
1000 yuan per day; from October 26 2019 to the date of acceptance and delivery of project with 21543248
yuan as the base calculated according to the quoted interest rate of the loan market for the same period announced
by the National Interbank Funding Center and it’s about 2.3 million yuan calculated to the date of indictment)
caused to the plaintiff due to the delayed delivery of the Wuhan Jiacheng Bio-Industrial Park Construction Project
(Phase I); 4. To bear the litigation fees preservation fees and other expenses for the counterclaim.
(16) Disputes over loan contract between Changzhou Shenbao Tea-Shop E-commerce Co. Ltd. (hereinafter
referred to as “Changzhou Company”) and Shenzhen Agricultural Products Financing Guarantee Co. Ltd.(hereinafter referred to as “Agricultural Products Guarantee Company”)
On July 15 2016 the Agricultural Products Guarantee Company submitted a Civil Complaint to Shenzhen Futian
District People’s Court requesting to order: 1. Changzhou Company to repay the loan principal of 5000000.00
yuan and the interest of 389968.52 yuan and the penalty interest of 3200271.79 yuan (The penalty interest is
temporarily calculated until June 30 2016 and actually calculated to the date when the loan is fully paid); 2.Changzhou Company to pay compensation of 100000.00 yuan ( 5000000 yuan × 2%); totaling 8690240.31
yuan; 3. Shenzhen Shenbao Industrial Co. Ltd. (hereinafter referred to as “Shenbao Company”)to be jointly and
severally liable for the loan of 5000000.00 yuan.Shenzhen Futian District People’s Court issued a first-instance judgment on May 31 2017 ruling that Changzhou
Company should repay the loan principal of 5 million yuan and interest of 353871.28 yuan and interest penalty
(interest penalty is based on 5 million yuan as the principal calculated from September 7 2013 to the date of
actual repayment at an annual rate of 21.6%. If the repayment is made in installments the interest of
corresponding part will be calculated to the date of each repayment) to the plaintiff Agricultural Products
Guarantee Company within 10 days from the effective date of the judgment and Changzhou Company shall bear
the lawyer’s fee of 71911 yuan and the preservation fee of 5000 yuan; the judgment rejected the request of the
Agricultural Products Guarantee Company’s request Shenbao Company to bear joint and several liability.Agricultural Products Guarantee Company refused to accept the first-instance judgment and filed an appeal to the
Shenzhen Intermediate People’s Court. On May 10 2019 the Shenzhen Intermediate People’s Court served the
civil judgment (final judgment) and the Shenzhen Intermediate Court made some changes to the first-instance
judgment ruling that Shenbao Company (now renamed Shenzhen Cereals Holdings Co. Ltd.) shall be jointly and
severally liable for the debts of Changzhou Company within the range of 3.5 million yuan; Shenbao Company
(now renamed as Shenzhen Cereals Holdings Co. Ltd.) has the right to recover from Changzhou Company after
paying off the debts on its behalf.In May 2021 Agricultural Products Guarantee Company applied to Futian District Court of the first instance for
compulsory execution of 5193443 yuan. According to the request of the court Changzhou Company declared the
property status to the court. Agricultural Products Guarantee Company reached a voluntary settlement with
Changzhou Company and SZCH. On October 20 2021 Futian Court issued an enforcement ruling to terminate
the enforcement of the case.
293深圳市深粮控股股份有限公司2021年年度报告全文
Guarantee
(1) The Company and subsidiary of the Company -SZCG provide a guarantee to its subsidiary - International
Food
The Company and Subsidiary of the Company -SZCG provide a guarantee to International Food for the
application of loans amount of guarantee is 614.6709 million yuan. As of the date of approval of the financial
report the loan is not yet due for repayment.
(2) Subsidiary of the Company -SZCG provide a guarantee to its subsidiary -Dongguan Logistics
Subsidiary of the Company -SZCG provide a guarantee to Dongguan Logistics for the application of loans
amount of guarantee is 118.5579 million yuan. As of the date of approval of the financial report the loan is not yet
due for repayment.
(3) Subsidiary of the Company -SZCG provide a guarantee to its subsidiary -Dongguan Grain and Oil
Subsidiary of the Company -SZCG provide a guarantee to Dongguan Grain and Oil for the application of loans
amount of guarantee is 86.132 million yuan. As of the date of approval of the financial report the loan is not yet
due for repayment.
(4) Associated guarantees and restricted assets
Restricted assets found more in the Note VII (81) associated guarantee found more in Note XII (5)
(2) If the Company has no important contingency need to disclosed explain reasons
The Company has no important contingency that need to disclose.
3. Other
XV. Events after balance sheet date
1. Important non adjustment matters
Unit: RMB/CNY
Impact on financial status and Reasons of fails to estimate
Item Content
operation results the impact
2. Profit distribution
Unit: RMB/CNY
Profit or dividend to be distributed According to the resolution of 21th session
294深圳市深粮控股股份有限公司2021年年度报告全文
of 10th BOD the profit distribution plan for
year of 2021 is: Based on total share capital
of 1152535254 on 31 Dec 2021
distributed cash dividend of 2.5 Yuan (tax
included) for every 10 shares to all
shareholders with zero share bonus (tax
included) and no share converted from
capital reserve a total of 288133813.50
Yuan cash are distributed.
3. Sales return
4. Other events after balance sheet date
XVI. Other important events
1. Previous accounting errors collection
(1) Retrospective restatement
Unit: RMB/CNY
Content of accounting error Items impact during vary
Procedures Accumulated impact
correction comparative period
(2)Prospective application
Reasons for adopting the prospective
Content of accounting error correction Approval procedure
applicable method
2. Debt restructuring
3. Assets exchange
(1) Exchange of non-monetary assets
(2) Other assets exchange
4. Pension plan
5. Discontinuing operation
Unit: RMB/CNY
295深圳市深粮控股股份有限公司2021年年度报告全文
Profit of
discontinuing
operation
Income tax
Item Revenue Expenses Total profit Net profit attributable to
expenses
owners of
parent
company
Other explanation
6. Segment
(1) Recognition basis and accounting policy for reportable segment
(2) Financial information for reportable segment
Unit: RMB/CNY
Item Offset between segment Total
(3) The Company has no segment or unable to disclose total assets and liability of the segment explain
reasons
(4) Other explanation
7. Other major transaction and events makes influence on investor’s decision
8. Other
XVII. Principle notes of financial statements of parent company
1. Account receivable
(1) Account receivable classify by category
Unit: RMB/CNY
Ending balance Opening balance
Bad debt
Book balance Book balance Bad debt provision
Category provision Book Book
Amoun Accrua value Amoun Amoun Accrual value
Amount Ratio Ratio
t l ratio t t ratio
Account receivable 28453.0 0.02 28453. 100.00 28453. 28453. 100.00
0.69%
with bad debt 8 % 08 % 08 08 %
296深圳市深粮控股股份有限公司2021年年度报告全文
provision accrual
on a single basis
Including:
Account receivable
with single minor
amount but with 28453.0 0.02 28453. 100.00 28453. 28453. 100.00
0.69%
bad debts provision 8 % 08 % 08 08 %
accrued on a single
basis
Account receivable
13567
with bad debt 135682 99.9 4426.3 40982 10537. 408768
8426.399.31%0.26%
provision accrual 852.60 8% 0 18.40 22 1.18
0
on portfolio
Including:
Portfolio of sales 0.01 4426.3 50.00 4426.3 79699 10537. 786459.
8852.6019.31%1.32%
receivable % 0 % 0 6.91 22 69
13567
Object-specific 135674 99.9 33012 330122
4000.080.00%
portfolio 000.00 7% 21.49 1.49
0
13567
135711100.32879.41266100.0038990.408768
Total 8426.3
305.6800%3871.48%301.18
0
Accrual of bad debt provision on single item:
Unit: RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio Accrual causes
Other accrual on single Slightly possibly taken
28453.0828453.08100.00%
basis back
Total 28453.08 28453.08 -- --
Accrual of bad debt provision on single item:
Unit: RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio Accrual causes
Accrual of bad debt provision on portfolio:
Unit: RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio
Portfolio of sales receivable 8852.60 4426.30 50.00%
297深圳市深粮控股股份有限公司2021年年度报告全文
Object-specific portfolio 135674000.00
Total 135682852.60 4426.30 --
Explanation on portfolio determines:
Accrual of bad debt provision on portfolio:
Unit: RMB/CNY
Ending balance
Name
Book balance Bad debt provision Accrual ratio
Explanation on portfolio determines:
If the provision for bad debts of account receivable is made in accordance with the general model of expected credit losses please
refer to the disclosure of other account receivables to disclose related information about bad-debt provisions:
□ Applicable √ Not applicable
By account age
Unit: RMB/CNY
Account age Book balance
Within one year(including one year) 135674000.00
2-3 years 37305.68
Over 3 years 8852.60
Over 5 years 28453.08
Total 135711305.68
(2) Bad debt provision accrual collected or reversal in the period
Bad debt provision accrual in the period:
Unit: RMB/CNY
Amount changed in the period
Opening
Category Collected or Ending balance
balance Accrual Written off Other
reversal
Other accrual
28453.0828453.08
on single basis
Sales
Receivables 10537.22 6110.92 4426.30
Portfolio
Total 38990.30 6110.92 32879.38
Including major amount bad debt provision that collected or reversal in the period:
Unit: RMB/CNY
Enterprise Amount collected or reversal Collection way
298深圳市深粮控股股份有限公司2021年年度报告全文
(3) Account receivable actually written-off in the period
Unit: RMB/CNY
Item Amount written-off
Including major account receivable written-off:
Unit: RMB/CNY
Amount Procedure of Resulted by related
Enterprise Nature Written-off causes
written-off written-off transaction (Y/N)
Explanation on account receivable written-off:
(4)Top 5 account receivables at ending balance by arrears party
Unit: RMB/CNY
Ending balance of accounts Proportion in total receivables Ending balance of bad debt
Enterprise
receivable at ending balance (%) reserve
Total
(5) Amount of assets and liabilities that formed the by transferring of account receivable and continue to be
involved
Other explanation:
(6) Account receivables derecognized due to the transfer of financial assets
2. Other account receivable
Unit: RMB/CNY
Item Ending balance Opening balance
Dividend receivable 540000000.00 390000000.00
Other account receivable 443939717.84 502105968.23
Total 983939717.84 892105968.23
(1) Interest receivable
1) Category of interest receivable
Unit: RMB/CNY
Item Ending balance Opening balance
299深圳市深粮控股股份有限公司2021年年度报告全文
2) Important overdue interest
Whether impairment
Borrower Ending balance Overdue time Overdue causes occurs and its
judgment basis
Other explanation:
3) Accrual of bad debt provision
□ Applicable √ Not applicable
(2) Dividend receivable
1) Category of dividend receivable
Unit: RMB/CNY
Item (or the invested entity) Ending balance Opening balance
SZCG 540000000.00 390000000.00
Total 540000000.00 390000000.00
2) Important dividend receivable with account age over one year
Unit: RMB/CNY
Whether impairment
Item (or the invested Reasons for not
Ending balance Account age occurs and its
entity) collection
judgment basis
3) Accrual of bad debt provision
□ Applicable √ Not applicable
Other explanation:
(3) Other account receivable
1) Other account receivable classify by nature
Unit: RMB/CNY
Nature Ending book balance Opening book balance
2) Accrual of bad debt provision
Unit: RMB/CNY
300深圳市深粮控股股份有限公司2021年年度报告全文
Phase I Phase II Phase III
Expected credit losses for Expected credit losses for
Expected credit
Bad debt provision the entire duration the entire duration (with Total
losses over next 12
(without credit credit impairment
months
impairment occurred) occurred)
Balance on Jan. 1
258262.8227187201.5027445464.32
2021
Balance of Jan. 1 2021
————————
in the period
Current accrual 444065.39 444065.39
Current reversal 44794.67 44794.67
Balance on 31 Dec.
213468.1527631266.8927844735.04
2021
Change of book balance of loss provision with amount has major changes in the period
□ Applicable √ Not applicable
By account age
Unit: RMB/CNY
Account age Book balance
Within one year(including one year) 446290047.53
2-3 years 25494405.35
Over 3 years 436664.33
3-4 years 436664.33
4-5 years 24621076.69
Over 5 years 471784452.88
Total 446290047.53
3) Bad debt provision accrual collected or reversal in the period
Bad debt provision accrual in the period:
Unit: RMB/CNY
Amount changed in the period
Opening
Category Collected or Ending balance
balance Accrual Written off Other
reversal
Accrual of bad
debt provision on 27187201.50 444065.39 27631266.89
single item
Accrual of bad
258262.8244794.67213468.15
debt provision on
301深圳市深粮控股股份有限公司2021年年度报告全文
portfolio
Total 27445464.32 444065.39 44794.67 27844735.04
Including major amount with bad debt provision reverse or collected in the period:
Unit: RMB/CNY
Enterprise Amount reversal or collected Collection way
4) Other account receivable actually written-off in the period
Unit: RMB/CNY
Item Amount written-off
Including important other account receivable written-off:
Unit: RMB/CNY
Amount Procedure of Resulted by related
Enterprise Nature Written-off causes
written-off written-off transaction (Y/N)
Explanation on other account receivable written-off:
5) Top 5 other receivables at ending balance by arrears party
Unit: RMB/CNY
Ratio in total
ending balance of Ending balance of
Enterprise Nature Ending balance Account age
other account bad debt reserve
receivables
First Other internal
163583712.37 Within one year 34.67%
funds
Second Other internal
121519491.64 Within one year 25.76%
funds
Three Other internal
113690711.18 Within one year 24.10%
funds
Fourth Other internal Within one year
24608742.465.22%22187644.18
funds over 5 years
Fifth Other internal
20016916.67 Within one year 4.24%
funds
Total 443419574.32 93.99% 22187644.18
6) Other account receivables related to government grants
Unit: RMB/CNY
Enterprise Government grants Ending balance Ending account age Time amount and basis
302深圳市深粮控股股份有限公司2021年年度报告全文
for collection predicted
7) Other receivables derecognized due to the transfer of financial assets
8) Amount of assets and liabilities that formed the by transferring of other receivable and continue to be
involved
Other explanation:
3. Long-term equity investment
Unit: RMB/CNY
Ending balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Investment for 4054019425. 4048519425. 3713214425. 3707714425.
5500000.005500000.00
subsidiary 09 09 09 09
Investment for
associates and 2927628.53 2927628.53 2927628.53 2927628.53
joint venture
4056947053.4048519425.3716142053.3707714425.
Total 8427628.53 8427628.53
62096209
(1) Investment for subsidiary
Unit: RMB/CNY
Current changes (+ -) Ending
Opening Ending
The invested Accrual of balance of
balance(boo Additional Capital balance(book
entity impairment Other impairment
k value) investment reduction value)
provision provision
Shenbao 2550000.00 2550000.00
Property
Shenbao 5500000.00
Industry &
Trade
Shenliang 80520842.3 80520842.3
Food 6 6
Shenbao 168551781. 168551781.Huacheng 80 80
Huizhou 60000000.0 60000000.0
Shenbao 0 0
303深圳市深粮控股股份有限公司2021年年度报告全文
Shenbao 54676764.1 54676764.1
Technology 1 1
Shenbao 50000000.0 50000000.0
Investment 0 0
SZCG 329141503 329141503
6.826.82
Dongguan 321680000. 321680000.Logistics 00 00
Wuhan 21675000.0 21675000.0
Jiacheng 0 0
Total 370771442 343355000. 2550000.00 404851942 5500000.00
5.09005.09
(2) Investment for associates and joint venture
Unit: RMB/CNY
Current changes (+ -)
Ending
Investm Cash
Openin Other Accrual balance
Investm ent dividen Ending
g Additio compre of of
ent Capital gains Other d or balance
balance nal hensive impair impair
compan reducti recogni equity profit Other (book
(book investm income ment ment
y on zed change announ value)
value) ent adjustm provisi provisi
under ced to
ent on on
equity issued
I. Joint venture
II. Associated enterprise
Shenzh
en
Shenba
o
(Liaoyu 57628.an) 53
Industri
al
Compa
ny
Shenzh
en
28700
Shenba
00.00
o
(Xinmi
304深圳市深粮控股股份有限公司2021年年度报告全文
n)
Foods
Co.Ltd
Subtota 29276
l 28.53
29276
Total
28.53
(3) Other explanation
4. Operating revenue and operating cost
Unit: RMB/CNY
Current Period Last Period
Item
Revenue Cost Revenue Cost
Main business 152450921.01 471590.28 2937704.33 2935769.97
Other business 304502.00 3849941.90 471590.33
Total 152755423.01 471590.28 6787646.23 3407360.30
Revenue-related information:
Unit: RMB/CNY
Category Branch 1 Branch 2 Total
Product Types
Including:
Classification by
business area
Including:
Market or customer
type
Including:
Contract Types
Including:
Classification by time
of goods transfer
Including:
Classification by
contract duration
Including:
305深圳市深粮控股股份有限公司2021年年度报告全文
Classification by sales
channel
Including:
Total
Information relating to performance obligations:
Nil
Information related to the transaction price apportioned to the remaining performance obligations:
The amount of income corresponding to the performance 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 0.00yuan of revenue is expected to be
recognized in 0 yuan of revenue is expected to be recognized in 0 and 0.00 yuan of revenue is expected to be recognized in 0.Other explanation:
5. Investment income
Unit: RMB/CNY
Item Current Period Last Period
Investment income from disposal of
274697.802288570.32
long-term equity investment
Investment income during the period of
667216.57392551.01
tradable financial assets hold
Subsidiary dividends 150451054.95 390473276.41
Total 151392969.32 393154397.74
6. Other
XVIII. Supplementary information
1. Current non-recurring gains/losses
√ Applicable □Not applicable
Unit: RMB/CNY
Item Amount Note
Gains/losses from the disposal of non-current asset 29351180.57
Governmental subsidy reckoned into current gains/losses (except for those with
normal operation business concerned and conform to the national policies &
15871621.28
regulations and are continuously enjoyed at a fixed or quantitative basis according to
certain standards)
Profit and loss of assets delegation on others’ investment or management 4014308.85
Except for the effective hedging operations related to normal business operation of 299292.76
306深圳市深粮控股股份有限公司2021年年度报告全文
the Company the gains/losses of fair value changes from holding the trading
financial assets and trading financial liabilities and the investment earnings obtained
from disposing the trading financial asset trading financial liability
Switch-back of provision of impairment of account receivable and contract assets
4076676.65
which are treated with separate depreciation test
Other non-operating income and expenditure except for the aforementioned items 13089042.88
Subtotal
Less: impact on income tax 14600145.88
Impact on minority interests 940057.30
Total 51161919.81 --
Details of other gains/losses items that meets the definition of non-recurring gains/losses:
□ Applicable √ Not applicable
There are no other gains/losses items that meet the definition of non-recurring gains/losses in the Company.Explain the items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss in Q&A
Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss
□ Applicable √ Not applicable
2. ROE and earnings per share
Earnings per share
Profits during report period Weighted average ROE Basic earnings per Diluted earnings per
share (RMB/Share) share (RMB/Share)
Net profits belong to common 9.13% 0.3720 0.3720
stock stockholders of the
Company
Net profits belong to common
stock stockholders of the
8.04%0.32760.3276
Company after deducting
nonrecurring gains and losses
3. Difference of the accounting data under accounting rules in and out of China
(1) Difference of the net profit and net assets disclosed in financial report under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
√ Applicable □Not applicable
Unit: RMB/CNY
Net profit Net assets
Current Period Last Period Ending balance Opening balance
Chinese GAAP 428720226.09 405088385.54 4630292102.34 4595331999.76
307深圳市深粮控股股份有限公司2021年年度报告全文
Items and amount adjusted by IAS:
Adjustment for other
payable fund of stock 1067000.00 1067000.00
market regulation
IAS 428720226.09 405088385.54 4631359102.34 4596398999.76
(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
4. Other
308
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