WEIFU HIGH-TECHNOLOGY GROUP CO. LTD.Semi-Annual Financial Report 2022
August 2022无锡威孚高科技集团股份有限公司 2022年半年度财务报告
I. Audit report
Whether the semi annual report is audited
□Yes □No
The company's semi annual financial report has not been audited
II. Financial Statement
Statement in Financial Notes are carried in RMB/CNY
1. Consolidated Balance Sheet
Prepared by Weifu High-Technology Group Co. Ltd.June 30 2022
Unit: RMB/CNY
Item June 30 2022 January 1 2022
Current assets:
Monetary funds 2357955196.57 1896063265.69
Settlement provisions
Capital lent
Trading financial assets 3783299041.48 6076436069.42
Derivative financial assets
Note receivable 990397272.62 1116550186.21
Account receivable 4545410759.88 2053800293.77
Receivable financing 875577584.80 713017014.50
Accounts paid in advance 3128509070.58 178059249.99
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance receivable
Other account receivable 603753032.49 17908078.54
Including: Interest receivable
Dividend receivable 577318855.11
Buying back the sale of financial assets
Inventories 2167754348.61 3445396375.09
Contractual assets
Assets held for sale
Non-current asset due within one year
Other current assets 52225842.73 220320922.50
Total current assets 18504882149.76 15717551455.71
Non-current assets:
Loans and payments on behalf
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment 5582235398.43 5717944788.12
2无锡威孚高科技集团股份有限公司2022年半年度财务报告
Investment in other equity instrument 677790690.00 285048000.00
Other non-current financial assets 1804481411.00 1690795178.00
Investment real estate 18653199.32 19387746.56
Fixed assets 2954329704.27 2932210452.51
Construction in progress 500684157.53 387429933.08
Productive biological asset
Oil and gas asset
Right-of-use assets 28757850.60 23148405.58
Intangible assets 429178519.56 440593119.82
Expense on Research and Development
Goodwill 224425945.78 231255015.75
Long-term expenses to be apportioned 11947263.62 15304783.57
Deferred income tax asset 247248306.68 242248194.57
Other non-current asset 417664761.50 267941354.57
Total non-current asset 12897397208.29 12253306972.13
Total assets 31402279358.05 27970858427.84
Current liabilities:
Short-term loans 4187682800.94 1437958206.55
Loan from central bank
Capital borrowed
Trading financial liability
Derivative financial liability
Note payable 1603408581.52 1760032216.30
Account payable 4244994572.77 3206653702.59
Accounts received in advance 6950948.17 2854518.96
Contractual liability 93104665.28 136427636.39
Selling financial asset of repurchase
Absorbing deposit and interbank deposit
Security trading of agency
Security sales of agency
Wage payable 244436555.93 339888502.70
Taxes payable 110831058.87 40105648.88
Other account payable 468263626.36 359905317.46
Including: Interest payable 5621.94 6184.14
Dividend payable 165975264.00 25671100.00
Commission charge and commission payable
Reinsurance payable
Liability held for sale
Non-current liabilities due within one year 31696560.71 34088773.68
Other current liabilities 169153621.43 212969271.55
Total current liabilities 11160522991.98 7530883795.06
Non-current liabilities:
Insurance contract reserve
Long-term loans 200000000.00
Bonds payable
Including: Preferred stock
Perpetual capital securities
Lease liability 21504518.33 15795469.25
3无锡威孚高科技集团股份有限公司2022年半年度财务报告
Long-term account payable 32015082.11 32015082.11
Long-term wages payable 108311923.19 108311923.19
Accrual liability
Deferred income 280016332.08 298052867.56
Deferred income tax liabilities 20805712.81 23097535.20
Other non-current liabilities
Total non-current liabilities 662653568.52 477272877.31
Total liabilities 11823176560.50 8008156672.37
Owner’s equity:
Share capital 1008659570.00 1008659570.00
Other equity instrument
Including: Preferred stock
Perpetual capital securities
Capital public reserve 3406077313.83 3371344172.82
Less: Inventory shares 339452454.81 270249797.74
Other comprehensive income -49425996.76 -36746344.60
Reasonable reserve 1715465.25 712215.31
Surplus public reserve 510100496.00 510100496.00
Provision of general risk
Retained profit 14438490420.01 14814787377.86
Total owner’ s equity attributable to parent company 18976164813.52 19398607689.65
Minority interests 602937984.03 564094065.82
Total owner’ s equity 19579102797.55 19962701755.47
Total liabilities and owner’ s equity 31402279358.05 27970858427.84
Legal Representative: Wang Xiaodong
Person in charge of accounting works: Ou Jianbin
Person in charge of accounting institute: Ou Jianbin
2. Balance Sheet of Parent Company
Unit: RMB/CNY
Item June 30 2022 January 1 2022
Current assets:
Monetary funds 1161936356.09 1002808546.46
Trading financial assets 3438370002.19 5493703374.82
Derivative financial assets
Note receivable 216245787.47 303726372.69
Account receivable 925360503.38 536957890.22
Receivable financing
Accounts paid in advance 95671538.79 93419268.82
Other account receivable 3837362710.21 204125517.63
Including: Interest receivable 102777.78 113055.56
Dividend receivable 560425376.21 26718900.00
Inventories 612225270.17 1076094722.15
Contractual assets
Assets held for sale
Non-current assets maturing within one year
4无锡威孚高科技集团股份有限公司2022年半年度财务报告
Other current assets 7467232.94 149352872.77
Total current assets 10294639401.24 8860188565.56
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term equity investments 6840345524.26 6867282228.56
Investment in other equity instrument 601850690.00 209108000.00
Other non-current financial assets 1804481411.00 1690795178.00
Investment real estate
Fixed assets 1794069819.22 1786089596.76
Construction in progress 311929452.27 239183999.25
Productive biological assets
Oil and natural gas assets
Right-of-use assets 8182385.14 1240879.96
Intangible assets 211090286.11 209952168.75
Research and development costs
Goodwill
Long-term deferred expenses 274190.98 348970.34
Deferred income tax assets 90660050.91 85012991.24
Other non-current assets 321480754.07 185646711.53
Total non-current assets 11984364563.96 11274660724.39
Total assets 22279003965.20 20134849289.95
Current liabilities
Short-term borrowings 2566129633.33 272578883.63
Trading financial liability
Derivative financial liability
Notes payable 445310209.74 569405391.94
Account payable 876228070.03 1012390712.80
Accounts received in advance
Contract liability 6849874.49 7879319.15
Wage payable 158053645.19 220719432.58
Taxes payable 19993113.26 12427327.61
Other accounts payable 1311764098.96 392455373.80
Including: Interest payable 117777.78
Dividend payable 165975264.00
Liability held for sale
Non-current liabilities due within one year 462484.41 462484.41
Other current liabilities 130116125.31 143935332.78
Total current liabilities 5514907254.72 2632254258.70
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital securities
Lease liability 7993740.15 1003106.55
Long-term account payable
Long term employee compensation payable 103482333.50 103482333.50
5无锡威孚高科技集团股份有限公司2022年半年度财务报告
Accrued liabilities
Deferred income 253285007.42 265509545.34
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 364761081.07 369994985.39
Total liabilities 5879668335.79 3002249244.09
Owners’ equity:
Share capital 1008659570.00 1008659570.00
Other equity instrument
Including: preferred stock
Perpetual capital securities
Capital public reserve 3522974136.55 3487154855.59
Less: Inventory shares 339452454.81 270249797.74
Other comprehensive income
Special reserve
Surplus reserve 510100496.00 510100496.00
Retained profit 11697053881.67 12396934922.01
Total owner’s equity 16399335629.41 17132600045.86
Total liabilities and owner’s equity 22279003965.20 20134849289.95
3. Consolidated Profit Statement
Unit: RMB/CNY
Item 2022 semi-annual 2021 semi-annual
I. Total operating income 7321835360.98 9037691756.24
Including: Operating income 7321835360.98 9037691756.24
Interest income
Insurance gained
Commission charge and commission income
II. Total operating cost 6729087452.78 8179064974.32
Including: Operating cost 6024571742.71 7497917157.07
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 28877421.78 38209494.32
Sales expense 79020592.43 111193615.56
Administrative expense 277212254.79 266226378.32
R&D expense 289631376.50 249583255.99
Financial expense 29774064.57 15935073.06
Including: Interest expenses 34275262.65 14244003.27
Interest income 13927929.36 16673615.70
Add: other income 26095621.93 23433211.68
Investment income (Loss is listed with “-”) 928792343.97 1105771532.34
Including: Investment income on affiliated company and 823400731.10 962736510.68
6无锡威孚高科技集团股份有限公司2022年半年度财务报告
joint venture
The termination of income recognition for financial
-680357.44-609970.51
assets measured by amortized cost(Loss is listed with “-”)
Exchange income (Loss is listed with “-”)
Net exposure hedging income (Loss is listed with “-”)
Income from change of fair value (Loss is listed with “-”) -74432928.14 -86131772.46
Loss of credit impairment (Loss is listed with “-”) 2083427.81 6750336.12
Losses of devaluation of asset (Loss is listed with “-”) -104219783.98 -103997387.44
Income from assets disposal (Loss is listed with “-”) 1890279.95 2926586.82
III. Operating profit (Loss is listed with “-”) 1372956869.74 1807379288.98
Add: Non-operating income 218285.29 488184.66
Less: Non-operating expense 2196565.87 851627.30
IV. Total profit (Loss is listed with “-”) 1370978589.16 1807015846.34
Less: Income tax expense 100553787.21 117972661.22
V. Net profit (Net loss is listed with “-”) 1270424801.95 1689043185.12
(i) Classify by business continuity
1.continuous operating net profit (net loss listed with ‘-”) 1270424801.95 1689043185.12
2.termination of net profit (net loss listed with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to owner’s of parent company 1232762710.95 1645389487.32
2.Minority shareholders’ gains and losses 37662091.00 43653697.80
VI. Net after-tax of other comprehensive income -12679652.16 -18712800.55
Net after-tax of other comprehensive income attributable to owners
-12679652.16-18712800.55
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
-12679652.16-18712800.55
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
-12679652.16-18712800.55
currency financial statements
7.Other
Net after-tax of other comprehensive income attributable to minority
shareholders
VII. Total comprehensive income 1257745149.79 1670330384.57
Total comprehensive income attributable to owners of parent
1220083058.791626676686.77
Company
Total comprehensive income attributable to minority shareholders 37662091.00 43653697.80
VIII. Earnings per share:
(i) Basic earnings per share 1.25 1.66
(ii) Diluted earnings per share 1.25 1.66
7无锡威孚高科技集团股份有限公司2022年半年度财务报告
Legal Representative: Wang Xiaodong
Person in charge of accounting works: Ou Jianbin
Person in charge of accounting institute: Ou Jianbin
4. Profit Statement of Parent Company
Unit: RMB/CNY
Item 2022 semi-annual 2021 semi-annual
I. Operating income 2411189208.04 3220943476.43
Less: Operating cost 1919986159.54 2403527534.87
Taxes and surcharge 13501778.32 21834137.85
Sales expenses 14392542.42 17546893.57
Administration expenses 144366869.06 135426334.91
R&D expenses 115694064.37 87747468.92
Financial expenses -8310144.29 -7223028.80
Including: interest expenses 18380946.47 3350273.60
Interest income 31657392.66 13656977.09
Add: other income 15713320.73 15396596.15
Investment income (Loss is listed with “-”) 835209662.03 1028633777.97
Including: Investment income on affiliated Company and
734429287.99831855487.43
joint venture
The termination of income recognition for financial
assets measured by amortized cost (Loss is listed with “-”)
Net exposure hedging income (Loss is listed with “-”)
Changing income of fair value (Loss is listed with “-”) -74417034.85 -86218789.02
Loss of credit impairment (Loss is listed with “-”) 477241.11 780808.33
Losses of devaluation of asset (Loss is listed with “-”) -45999971.02 -10358756.04
Income on disposal of assets (Loss is listed with “-”) 146113.46 723623.73
II. Operating profit (Loss is listed with “-”) 942687270.08 1511041396.23
Add: Non-operating income 138467.56 56000.29
Less: Non-operating expense 613619.53 575906.72
III. Total Profit (Loss is listed with “-”) 942212118.11 1510521489.80
Less: Income tax 33033489.65 76926523.99
IV. Net profit (Net loss is listed with “-”) 909178628.46 1433594965.81(i)continuous operating net profit (net loss listed with ‘-”) 909178628.46 1433594965.81(ii) termination of net profit (net loss 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 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
8无锡威孚高科技集团股份有限公司2022年半年度财务报告
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 909178628.46 1433594965.81
VII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
5. Consolidated Cash Flow Statement
Unit: RMB/CNY
Item 2022 semi-annual 2021 semi-annual
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor
8608596903.677104973474.71
services
Net increase of customer deposit and interbank deposit
Net increase of loan from central bank
Net increase of capital borrowed from other financial institution
Cash received from original insurance contract fee
Net cash received from reinsurance business
Net increase of insured savings and investment
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 232035625.20 22377551.77
Other cash received concerning operating activities 22438681.72 23837717.02
Subtotal of cash inflow arising from operating activities 8863071210.59 7151188743.50
Cash paid for purchasing commodities and receiving labor service 10123953273.86 5800001521.45
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 workers 736897874.74 769474843.18
Taxes paid 223299890.76 241303901.65
Other cash paid concerning operating activities 272902216.12 260216868.05
Subtotal of cash outflow arising from operating activities 11357053255.48 7070997134.33
Net cash flows arising from operating activities -2493982044.89 80191609.17
II. Cash flows arising from investing activities:
Cash received from recovering investment 6783202982.62 9674956210.22
Cash received from investment income 510529403.51 476145091.90
Net cash received from disposal of fixed intangible and other
7007242.747301988.55
long-term assets
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities 1108314.69
9无锡威孚高科技集团股份有限公司2022年半年度财务报告
Subtotal of cash inflow from investing activities 7300739628.87 10159511605.36
Cash paid for purchasing fixed intangible and other long-term
622264336.12312048305.49
assets
Cash paid for investment 5121895293.87 8896332579.38
Net increase of mortgaged loans
Net cash received from subsidiaries and other units obtained
Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities 5744159629.99 9208380884.87
Net cash flows arising from investing activities 1556579998.88 951130720.49
III. Cash flows arising from financing activities
Cash received from absorbing investment
Including: Cash received from absorbing minority shareholders’
investment by subsidiaries
Cash received from loans 4061893674.46 1107957631.62
Other cash received concerning financing activities
Subtotal of cash inflow from financing activities 4061893674.46 1107957631.62
Cash paid for settling debts 1122521453.43 212778637.77
Cash paid for dividend and profit distributing or interest paying 1499815013.36 1385111066.13
Including: Dividend and profit of minority shareholder paid by
25671100.0013970282.31
subsidiaries
Other cash paid concerning financing activities 100866543.83 6919876.01
Subtotal of cash outflow from financing activities 2723203010.62 1604809579.91
Net cash flows arising from financing activities 1338690663.84 -496851948.29
IV. Influence on cash and cash equivalents due to fluctuation in
-4522251.76-3408171.79
exchange rate
V. Net increase of cash and cash equivalents 396766366.07 531062209.58
Add: Balance of cash and cash equivalents at the period -begin 1094018936.73 944946018.70
VI. Balance of cash and cash equivalents at the period -end 1490785302.80 1476008228.28
6. Cash Flow Statement of Parent Company
Unit: RMB/CNY
Item 2022 semi-annual 2021 semi-annual
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor
2206683069.383242751680.23
services
Write-back of tax received 186226813.27
Other cash received concerning operating activities 13662628.42 12609442.48
Subtotal of cash inflow arising from operating activities 2406572511.07 3255361122.71
Cash paid for purchasing commodities and receiving labor
1469241728.461994221184.67
service
Cash paid to/for staff and workers 389448409.74 437457769.95
Taxes paid 138600504.19 113149540.45
Other cash paid concerning operating activities 94078994.56 73953894.64
Subtotal of cash outflow arising from operating activities 2091369636.95 2618782389.71
Net cash flows arising from operating activities 315202874.12 636578733.00
II. Cash flows arising from investing activities:
Cash received from recovering investment 4401242982.62 7526445210.22
Cash received from investment income 515008090.22 467905359.02
Net cash received from disposal of fixed intangible and other
2092031.774642596.78
long-term assets
Net cash received from disposal of subsidiaries and other units
10无锡威孚高科技集团股份有限公司2022年半年度财务报告
Other cash received concerning investing activities 333677757.87 126059237.40
Subtotal of cash inflow from investing activities 5252020862.48 8125052403.42
Cash paid for purchasing fixed intangible and other long-term
427352475.87168425236.10
assets
Cash paid for investment 3082493337.87 6901181670.00
Net cash received from subsidiaries and other units obtained
Other cash paid concerning investing activities 3408840000.00 135221125.00
Subtotal of cash outflow from investing activities 6918685813.74 7204828031.10
Net cash flows arising from investing activities -1666664951.26 920224372.32
III. Cash flows arising from financing activities
Cash received from absorbing investment
Cash received from loans 2618386800.00 276862000.00
Other cash received concerning financing activities 783729243.68 30000000.00
Subtotal of cash inflow from financing activities 3402116043.68 306862000.00
Cash paid for settling debts 326483000.00 102000000.00
Cash paid for dividend and profit distributing or interest paying 1459828775.80 1361089903.10
Other cash paid concerning financing activities 100720981.37 48290.60
Subtotal of cash outflow from financing activities 1887032757.17 1463138193.70
Net cash flows arising from financing activities 1515083286.51 -1156276193.70
IV. Influence on cash and cash equivalents due to fluctuation in
-3140478.44-1128178.25
exchange rate
V. Net increase of cash and cash equivalents 160480730.93 399398733.37
Add: Balance of cash and cash equivalents at the period -begin 488417498.83 651188544.53
VI. Balance of cash and cash equivalents at the period -end 648898229.76 1050587277.90
11无锡威孚高科技集团股份有限公司2022年半年度财务报告
7. Statement of Changes in Owners’ Equity (Consolidated)
Current Period
Unit: RMB/CNY
2022 semi-annual
Owners’ equity attributable to the parent Company
Other
equity instrument Provis Total Item
Share Pref Perpet O
Less: Other Reasona Minority
Capital Surplus ion of owners’
erre ual t Inventory comprehensive ble Retained profit Other Subtotal interests
capital reserve reserve genera equity
d capital h shares income reserve l risk
stoc securit e
k ies r
I. Balance at
10086533713427024979712215.51010049614814787377.19398607689.56409406519962701
the end of -36746344.60
the last year 9570.00 4172.82 7.74 31 .00 86 65 .82 755.47
Add:
Changes of
accounting
policy
Error
correction
of the last
period
Enterprise
combine
under the
same
control
Other
12无锡威孚高科技集团股份有限公司2022年半年度财务报告
II. Balance
at the 100865 337134 27024979 712215. 510100496 14814787377. 19398607689. 564094065 19962701
-36746344.60
beginning of 9570.00 4172.82 7.74 31 .00 86 65 .82 755.47
this year
III.Increase/
Decrease in -
34733169202657.10032438843918.
this year -12679652.16 -376296957.85 -422442876.13 383598957
(Decrease is 41.01 07 9.94 21 .92
listed with
“-”)
(i) Total
1232762710.91220083058.737662091.12577451
comprehens -12679652.16
ive income 5 9 00 49.79
(ii) Owners’
-
devoted and 347331 69202657. 1086139.9
-34469516.0633383376.decreased 41.01 07 2
capital 14
1.Common
shares
invested by
shareholders
2. Capital
invested by
holders of
other equity
instruments
3. Amount
reckoned
into owners 347331 1086139.9 35819280.
34733141.01
equity with 41.01 2 93
share-based
payment
-
69202657.
4. Other -69202657.07 69202657.
07
07
13无锡威孚高科技集团股份有限公司2022年半年度财务报告
---
(III) Profit
1609059668.81609059668.816090596
distribution
0068.80
1.
Withdrawal
of surplus
reserves
2.
Withdrawal
of general
risk
provisions
3.
Distribution
---
for owners
1609059668.81609059668.816090596
(or
shareholders 0 0 68.80
)
4. Other
(IV)
Carrying
forward
internal
owners’
equity
1. Capital
reserves
conversed to
capital
(share
capital)
2. Surplus
reserves
conversed to
capital
(share
14无锡威孚高科技集团股份有限公司2022年半年度财务报告
capital)
3.
Remedying
loss with
surplus
reserve
4．Carry-
over
retained
earnings
from the
defined
benefit
plans
5．Carry-
over
retained
earnings
from other
comprehens
ive income
6. Other
(V)
1003241098937.2
Reasonable 1003249.94 95687.29
reserve 9.94 3
1.
Withdrawal 132394 1346071.8 14585537.
13239465.25
in the report 65.25 6 11
period
2. Usage in
1223621250384.513486599.
the report 12236215.31
period 15.31 7 88
15无锡威孚高科技集团股份有限公司2022年半年度财务报告
(VI)Others
IV. Balance
at the end of 100865 340607 33945245 171546 510100496 14438490420. 18976164813. 602937984 19579102
-49425996.76
the report 9570.00 7313.83 4.81 5.25 .00 01 52 .03 797.55
period
Last Period
Unit: RMB/CNY
2021 semi-annual
Owners’ equity attributable to the parent Company
Other
equity
instrument
Pe
rp
et
Item Pr ua Less: Other Provision Minority Total owners’ Share ef Capital Reasonabl Surplus Othe
l Inventory comprehens of general Retained profit Subtotal interests equity capital err Ot reserve e reserve reserve r
ca shares ive income risk
ed he
pit
st r
al
oc
se
k
cu
rit
ies
I. Balance
at the end 1008950 3294242 303627977 13916619. 2333490. 510100496 13756102424. 18282017990. 512447908 18794465899.of the last 570.00 368.28 .74 47 03 .00 62 66 .36 02
year
Add:
Changes
of
accountin
g policy
16无锡威孚高科技集团股份有限公司2022年半年度财务报告
Error
correction
of the last
period
Enterprise
combine
under the
same
control
Other
II.Balance at
the 1008950 3294242 303627977 13916619. 2333490. 510100496 13756102424. 18282017990. 512447908 18794465899.beginning 570.00 368.28 .74 47 03 .00 62 66 .36 02
of this
year
III.Increase/
Decrease
-
in this 3735106 194126.9 30900981.
18712800.134284380.68153116773.47184017754.68
year 6.35 9 21
(Decrease 55
is listed
with “-”)
(i) Total
-
comprehe 1645389487.3 1626676686.7 43653697. 1670330384.5
18712800.
nsive 2 7 80 7
income 55
(ii)
Owners’
devoted 3735106 1174655.4
37351066.3538525721.77
and 6.35 2
decreased
capital
17无锡威孚高科技集团股份有限公司2022年半年度财务报告
1.Commo
n shares
invested
by
sharehold
ers
2. Capital
invested
by holders
of other
equity
instrument
s
3. Amount
reckoned
into
owners
37351061174655.4
equity 37351066.35 38525721.77
with 6.35 2
share-
based
payment
4. Other
(III) Profit - - - -
distributio 1513341439.5 1513341439.5 13970282. 1527311721.8
n 0 0 31 1
1.
Withdraw
al of
surplus
reserves
2.
Withdraw
al of
general
risk
provisions
18无锡威孚高科技集团股份有限公司2022年半年度财务报告
3.
Distributi
----
on for
1513341439.51513341439.513970282.1527311721.8
owners (or
sharehold 0 0 31 1
ers)
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.
Remedyin
g loss
with
surplus
reserve
4．Carry-
over
retained
earnings
from the
defined
benefit
plans
19无锡威孚高科技集团股份有限公司2022年半年度财务报告
5．Carry-
over
retained
earnings
from other
comprehe
nsive
income
6. Other
(V)
194126.9
Reasonabl 194126.99 42910.30 237037.29
e reserve 9
1.
Withdraw
12481921203727.4
al in the 12481928.66 13685656.08
report 8.66 2
period
2. Usage
in the 1228780 1160817.1
12287801.6713448618.79
report 1.67 2
period
(VI)Other
2236332.862236332.862236332.86
s
IV.Balance at -
100895033315933036279772527617.51010049613890386805.18435134764.54334888918978483653.
the end of 4796181.0
the report 570.00 434.63 .74 02 .00 30 13 .57 70 8
period
20无锡威孚高科技集团股份有限公司2022年半年度财务报告
8. Statement of Changes in Owners’ Equity (Parent Company)
Current Period
Unit: RMB/CNY
2022 semi-annual
Other equity
Other
instrument
compr
Pref O
Item Share Perpetua Capital public Less: Inventory ehensi Reasonable Total owners’
erre t Surplus reserve Retained profit Other
capital l capital reserve shares ve reserve equity
d h
securitie incom
stoc e
s e
k r
I. Balance at the
10086593487154855.512396934922.017132600045.8
end of the last 270249797.74 0.00 510100496.00
year 570.00 9 1 6
Add:
Changes of
accounting policy
Error
correction of the
last period
Other
II. Balance at the
10086593487154855.512396934922.017132600045.8
beginning of this 270249797.74 0.00 510100496.00
year 570.00 9 1 6
III. Increase/
Decrease in this
35819280.9669202657.07-699881040.34-733264416.45
year (Decrease is
listed with “-”)
(i) Total
comprehensive 909178628.46 909178628.46
income
(ii) Owners’
devoted and 35819280.96 69202657.07 -33383376.11
decreased capital
1.Common shares
invested by
shareholders
2. Capital
invested by
holders of other
equity
instruments
21无锡威孚高科技集团股份有限公司2022年半年度财务报告
3. Amount
reckoned into
owners equity 35819280.96 35819280.96
with share-based
payment
4. Other 69202657.07 -69202657.07
(III) Profit
-1609059668.80-1609059668.80
distribution
1. Withdrawal of
surplus reserves
2. Distribution for
owners (or -1609059668.80 -1609059668.80
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
comprehensive
income
6. Other
(V) Reasonable
reserve
1. Withdrawal in
3366170.403366170.40
the report period
22无锡威孚高科技集团股份有限公司2022年半年度财务报告
2. Usage in the
3366170.403366170.40
report period
(VI)Others
IV. Balance at the
10086593522974136.516399335629.4
end of the report 339452454.81 0.00 510100496.00 11697053881.67
period 570.00 5 1
Last period
Unit: RMB/CNY
2021 semi-annual
Other equity
instrument
Other
Pr Perp
compr
ef etual O
Item Capital public Less: Inventory ehensi Reasonable
Share capital err capit t Surplus reserve Retained profit Other Total owners’ equity
reserve shares ve reserve
ed al h
incom
st secu e
e
oc ritie r
k s
I. Balance at
1008950570.0
the end of the 3407732016.61 303627977.74 0.00 510100496.00 11698982965.62 16322138070.49
last year 0
Add:
Changes of
accounting
policy
Error
correction of
the last period
Other
II. Balance at
1008950570.0
the beginning 3407732016.61 303627977.74 0.00 510100496.00 11698982965.62 16322138070.49
of this year 0
III. Increase/
Decrease in this
year (Decrease 38525721.77 -77510140.83 -38984419.06
is listed with
“-”)
(i) Total
comprehensive 1433594965.81 1433594965.81
income
23无锡威孚高科技集团股份有限公司2022年半年度财务报告
(ii) Owners’
devoted and
38525721.7738525721.77
decreased
capital
1.Common
shares invested
by shareholders
2. Capital
invested by
holders of other
equity
instruments
3. Amount
reckoned into
owners equity 38525721.77 38525721.77
with share-
based payment
4. Other
(III) Profit
-1513341439.50-1513341439.50
distribution
1. Withdrawal
of surplus
reserves
2. Distribution
for owners (or -1513341439.50 -1513341439.50
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)
24无锡威孚高科技集团股份有限公司2022年半年度财务报告
3. Remedying
loss with
surplus reserve
4．Carry-over
retained
earnings from
the defined
benefit plans
5．Carry-over
retained
earnings from
other
comprehensive
income
6. Other
(V) Reasonable
reserve
1. Withdrawal
3218208.9
in the report 3218208.90
period 0
2. Usage in the 3218208.9
3218208.90
report period 0
(VI)Others 2236332.86 2236332.86
IV. Balance at
1008950570.0
the end of the 3446257738.38 303627977.74 0.00 510100496.00 11621472824.79 16283153651.43
report period 0
25无锡威孚高科技集团股份有限公司2022年半年度财务报告
III. Basic information of the Company
1. Historical origin of the Company
By the approval of STGS (1992) No. 130 issued by Jiangsu Economic Restructuring Committee Weifu High-
Technology Group Co. Ltd. (hereinafter referred to “the Company” or “Company”) was established as a company
of limited liability with funds raised from targeted sources and registered at Wuxi Administration for Industry &
Commerce in October 1992. The original share capital of the Company totaled 115.4355 million yuan including
state-owned share capital amounting to 92.4355 million yuan public corporate share capital amounting to 8 million
yuan and inner employee share capital amounting to 15 million yuan.Between year of 1994 and 1995 the Company was restructured and became a holding subsidiary of Wuxi Weifu
Group Co. Ltd (hereinafter referred to as “Weifu Group”).By the approval of Jiangsu ERC and Shenzhen Securities Administration Office in August 1995 the Company
issued 68 million special ordinary shares (B-share) with value of 1.00 yuan for each and the total value of those
shares amounted to 68 million yuan. After the issuance the Company’s total share capital increased to 183.4355
million yuan.By the approval of CSRC in June 1998 the Company issued 120 million RMB ordinary shares (A-share) at
Shenzhen Stock Exchange through on-line pricing and issuing. After the issuance the total share capital of the
Company amounted to 303.4355 million yuan.In the middle of 1999 deliberated and approved by the Board and Shareholders’ General Meeting the Company
implemented the plan of granting 3 bonus shares for each 10 shares. After that the total share capital of the Company
amounted to 394.46615 million yuan of which state-owned shares amounted to 120.16615 million yuan public
corporate shares 10.4 million yuan foreign-funded shares (B-share) 88.40 million yuan RMB ordinary shares (A-
share) 156 million yuan and inner employee shares 19.5 million yuan.In the year of 2000 by the approval of the CSRC and based upon the total share capital of 303.4355 million shares
after the issuance of A-share in June 1998 the Company allotted 3 shares for each 10 shares with a price of 10
yuan for each allotted share. Actually 41.9 million shares was allotted and the total share capital after the allotment
increased to 436.36615 million yuan of which state-owned corporate shares amounted to 121.56615 million yuan
public corporate shares 10.4 million yuan foreign-funded shares (B-share) 88.4 million yuan and RMB ordinary
shares (A-share) 216 million yuan.In April 2005 Board of Directors of the Company has examined and approved 2004 Profit Pre-distribution Plan
and examined and approved by 2004 Shareholders’ General Meeting the Company distributed 3 shares for each
10 shares to the whole shareholders totaling to 130909845 shares in 2005.
According to the Share Merger Reform Scheme of the Company that passed by related shareholders’ meeting of
Share Merger Reform and SGZF [2006] No.61 Reply on Questions about State-owned Equity Management in Share
Merger Reform of Weifu High-Technology Co. Ltd. issued by State-owned Assets Supervision & Administration
Commission of Jiangsu Province the Weifu Group etc. 8 non-circulating shareholders arranged pricing with
granting 1.7 shares for each 10 shares to circulating A-share shareholders (totally granted 47736000 shares) so as
to realize the originally non-circulating shares can be traded on market when satisfied certain conditions the scheme
has been implemented on April 5 2006.
26无锡威孚高科技集团股份有限公司2022年半年度财务报告
On 27 May 2009 Weifu Group satisfied the consideration arrangement by dispatching 0.5 shares for each 10 shares
based on the number of circulating A share as prior to Share Merger Reform according to the aforesaid Share
Merger Reform with an aggregate of 14039979 shares dispatched. Subsequent to implementation of dispatch of
consideration shares Weifu Group then held 100021999 shares of the Company representing 17.63% of the total
share capital of the Company.Pursuant to the document (XGZQ(2009)No.46) about Approval for Merger of Wuxi Weifu Group Co. Ltd. by Wuxi
Industry Development Group Co. Ltd. issued by the State-owned Assets Supervision and Administration
Commission of Wuxi City Government Wuxi Industry Development Group Co. Ltd. (hereinafter referred to as
Wuxi Industry Group) acquired Weifu Group. After the merger Weifu Group was then revoked and its assets and
credits & debts were transferred to be under the name of Wuxi Industry Group. Accordingly Wuxi Industry Group
became the first largest shareholder of the Company since then.In accordance with the resolutions of shareholders' meeting and provisions of amended constitution and approved
by [2012] No. 109 document of China Securities Regulatory Commission in February 2012 the Company issued
RMB ordinary shares (A-share) of 112858000 shares to Wuxi Industry Groups and overseas strategic investor
privately Robert Bosch Co. Ltd. (ROBERT BOSCHGMBH) (hereinafter referred to as Robert Bosch Company)
face value was ONE yuan per share added registered capital of 112858000 yuan and the registered capital after
change was 680133995 yuan. Wuxi Industry Group is the first majority shareholder of the Company and Robert
Bosch Company is the second majority shareholder of the Company.In March 2013 the profit distribution pre-plan for year of 2012 was deliberated and approved by the Board and
also passed in Annual General Meeting 2012 of the Company in May 2013. On basis of total share capital
680133995 shares distribute 5-share for every 10 shares held by whole shareholders 340066997 shares in total
are distributed. Total share capital of the Company amounting 1020200992 yuan up to 31 December 2013.Deliberated and approved by the company’s first extraordinary general meeting in 2015 the company has
repurchased 11250422 shares of A shares from August 26 2015 to September 8 2015 and has finished the
cancellation procedures for above repurchase shares in China Securities Depository and Clearing Corporation
Limited Shenzhen Branch on September 16 2015; after the cancellation of repurchase shares the company’s paid-
up capital (share capital) becomes 1008950570 yuan after the change.After deliberation and approved by the 5th session of 10th BOD for year of 2021 the 291000 restricted shares are
buy-back and canceled by the Company initially granted under the 2020 Restricted Share Incentive Plan. The
cancellation of the above mentioned buy-back shares are completed at the Shenzhen Branch of CSDC on December
20 2021; the paid-in capital (equity) of the Company comes to 1008659570.00 yuan after changed.
2. Registered place organization structure and head office of the Company
Registered place and head office of the Company: No.5 Huashan Road Xinwu District Wuxi
Unified social credit code: 91320200250456967N
The Company sets up Shareholders’ General Meeting the Board of Directors (BOD) and the Board of Supervisors
(BOS)
The Company sets up Administration Department Technology Centre organization & personnel department Office
of the Board compliance department IT department Strategy & new business Department market development
department Party-massesDepartment Finance Department Purchase DepartmentManufacturing Quality
Department MS (Mechanical System) division AC(Automotive Components) divisionand DS (Diesel System )
27无锡威孚高科技集团股份有限公司2022年半年度财务报告
division etc. and subsidiaries such as WUXI WEIFU LIDA CATALYTIC CONVERTER CO. LTD NANJING
WFJN CO. LTD IRD Fuel Cells A/S and Borit NV etc.
3. Business nature and major operation activities of the Company
Operation scope of parent company: Technology development and consulting service in the machinery industry;
manufacture of engine fuel oil system products fuel oil system testers and equipment manufacturing of auto
electronic parts automotive electrical components non-standard equipment non-standard knife tool and exhaust
after-treatment system; sales of the general machinery hardware & electrical equipment chemical products & raw
materials (excluding hazardous chemicals) automotive components and vehicles (excluding nine-seat passenger
car); internal combustion engine maintenance; leasing of the own houses; import and export business in respect of
diversified commodities and technologies (other than those commodities and technologies limited or forbidden by
the State for import and export) by self-operation and works as agent for such business. Research and test
development of engineering and technical; R&D of the energy recovery system; manufacture of auto components
and accessories; general equipment manufacturing (excluding special equipment manufacturing) (any projects that
needs to be approved by laws can only be carried out after getting approval by relevant authorities) General items:
engage in investment activities with self-owned funds (except for items subject to approval according to the law
independently carry out business activities according to laws with business licenses )
Major subsidiaries respectively activate in production and sales of engine accessories automotive components
mufflers purifiers and fuel cell components etc.
4. Authorized reporting parties and reporting dates for the financial report
Financial report of the Company were approved by the Board of Directors for reporting dated August 23 2022.
5. Scope of consolidate financial statement
Shareholding ratio Registered
(%) Proportion capital Statement
Short name of
Name of subsidiary of votes (in 10 Business scope consolidate
subsidiary Directly Indirectly (%) thousand (Y/N)
yuan)
Internal-
NANJING WEIFU JINNING CO. LTD. WFJN 80.00 -- 80.00 34628.70 combustion engine Y
accessories
WUXI WEIFU LIDA CATALYTIC CONVERTER Purifier and
WFLD 94.81 -- 94.81 50259.63 Y
CO. LTD. muffler
Internal-
WUXI WEIFU MASHAN FUEL INJECTION
WFMA 100.00 -- 100.00 16500 combustion engine Y
EQUIPMENT CO. LTD.accessories
Internal-
WUXI WEIFU CHANG A?N CO.LTD. WFCA 100.00 -- 100.00 21000 combustion engine Y
accessories
WUXI WEIFU INTERNATIONAL TRADE
WFTR 100.00 -- 100.00 3000 Trade Y
CO.LTD.Internal-
WUXI WEIFU SCHMITTER POWERTRAIN
WFSC 66.00 -- 66.00 7600 combustion engine Y
COMPONENTS CO.LTD.accessories
Internal-
NINGBO WEIFU TIANLI TURBOCHARGING
WFTT 98.83 1.17 100.00 11136 combustion engine Y
TECHNOLOGY CO.LTD.accessories
WUXI WEIFU AUTOCAM PRECISION Automotive
WFAM 51.00 -- 51.00 USD2110 Y
MACHINERY CO.LTD. components
WUXI WEIFU LIDA CATALYTIC CONVERTER WFLD Purifier and
-- 60.00 60.00 1000 Y
(WUHAN) CO. LTD. (WUHAN) muffler
Weifu Lida (Chongqing) Automotive components Co. WFLD Purifier and
-- 100.00 100.00 5000 Y
Ltd. (Chongqing) muffler
Nanchang Weifu Lida Automotive Components Co. WFLD Purifier and
-- 100.00 100.00 5000 Y
Ltd. (Nanchang) muffler
WUXI WEIFU AUTOSMART SEATING SYSTEM
WFAS -- 66.00 66.00 10000 Smart car device Y
CO. LTD.
28无锡威孚高科技集团股份有限公司2022年半年度财务报告
WUXI WEIFU E-DRIVE TECHNOLOGIES CO.WFDT 80.00 -- 80.00 USD2000 Wheel motor Y
LTD.Weifu Holding ApS SPV 100.00 -- 100.00 DKK2425 Investment Y
Fuel cell
IRD Fuel Cells A/S IRD -- 100.00 100.00 DKK10108 Y
components
Fuel cell
IRD FUEL CELLS LLC IRD America -- 100.00 100.00 USD651.91 Y
components
Fuel cell
Borit NV Borit -- 100.00 100.00 EUR1180.96 Y
components
Fuel cell
Borit Inc. Borit America -- 100.00 100.00 USD0.1 Y
components
Fuel cell
Wuxi Weifu Qinglong Power Technology Co. Ltd. WFFC 45.00 30.00 75.00 50000 Y
components
IV. Basis of preparation of financial statements
1. Preparation base
The financial statement were stated in compliance with Accounting Standard for Business Enterprises –Basic Norms
issued by Ministry of Finance the specific 42 accounting rules revised and issued dated 15 February 2006 and later
the Application Instruments of Accounting Standards and interpretation on Accounting standards and other relevant
regulations (together as “Accounting Standards for Business Enterprise”) as well as the Compilation Rules for
Information Disclosure by Companies Offering Securities to the Public No.15 – General Provision of Financial
Report (Amended in 2014) issued by CSRC in respect of the actual transactions and proceedings on a basis of
ongoing operation.In line with relevant regulations of Accounting Standards of Business Enterprise accounting of the Company is on
accrual basis. Except for certain financial instruments the financial statement measured on historical cost. Assets
have impairment been found corresponding depreciation reserves shall accrual according to relevant rules.
2. Going concern
The Company comprehensively assessed the available information and there are no obvious factors that impact
sustainable operation ability of the Company within 12 months since end of the reporting period.V. Major Accounting Policies and Estimation
Specific accounting policies and estimation attention:
The Company and its subsidiaries are mainly engaged in the manufacture and sales of engine fuel oil system
products automotive components mufflers purifiers and fuel cell components etc. in line with the actual
operational characteristics and relevant accounting standards many specific accounting policies and estimation have
been formulated for the transactions and events with revenue recognized concerned. As for the explanation on major
accounting judgment and estimation found more in Note V- 36. Other major accounting policies and estimation
1. Statement on observation of Accounting Standard for Business Enterprises
Financial statements prepared by the Company were in accordance with requirements of Accounting Standard for
Business Enterprises which truly and completely reflected the financial information of the Company during the
reporting period such as financial position operation achievements and cash flow.
2. Accounting period
Accounting period of the Company consist of annual and mid-term mid-term refers to the reporting period shorter
29无锡威孚高科技集团股份有限公司2022年半年度财务报告
than one annual accounting year. The company adopts Gregorian calendar as accounting period namely form each
1 January to 31 December.
3. Business cycles
Normal business cycle is the period from purchasing assets used for process by the Company to the cash and cash
equivalent achieved. The Company’s normal business cycle was one-year (12 months).
4. Recording currency
The Company’s reporting currency is the RMB yuan.
5. Accounting Treatment Method for Business Combinations under the same/different control
Business combination is the transaction or events that two or two above independent enterprises combined as a
reporting entity. Business combination including enterprise combined under the same control and business
combined under different control.
(1) The business combination under the same control
Enterprise combination under the same control is the enterprise who take part in the combination are have the same
ultimate controller or under the same controller the control is not temporary. The assets and liability acquired by
combining party are measured by book value of the combined party on combination date. Balance of net asset’s
book value acquired by combining party and combine consideration paid (or total book value of the shares issued)
shall adjusted capital reserve (share premium); if the capital reserves (share premium) is not enough for deducted
adjusted for retained earnings. Vary directly expenses occurred for enterprise combination the combining party
shall reckoned into current gains/losses while occurring. Combination day is the date when combining party
obtained controlling rights from the combined party.
(2) Combine not under the same control
A business combination not involving entities under common control is a business combination in which all of the
combining entities are not ultimately controlled by the same party or parties both before and after the
combination.As a purchaser fair value of the assets (equity of purchaser held before the date of purchasing included)
for purchasing controlling right from the purchaser the liability occurred or undertake on purchasing date less the
fair value of identifiable net assets of the purchaser obtained in combination recognized as goodwill if the results
is positive; if the number is negative the acquirer shall firstly review the measurement of the fair value of the
identifiable assets obtained liabilities incurred and contingent liabilities incurred as well as the combination
costs.After that if the combination costs are still lower than the fair value of the identifiable net assets obtained the
acquirer shall recognize the difference as the profit or loss in the current period.Other directly expenses cost for
combination shall be reckoned into current gains/losses. Difference of the fair value of assets paid and its book
values reckoned into current gains/losses. On purchasing date the identifiable assets liability or contingency of the
purchaser obtained by the Company recognized by fair value that required identification conditions; Acquisition
date refers to the date on which the acquirer effectively obtains control of the purchaser.
6. Preparation method for consolidated financial statement
(1) Recognition principle of consolidated scope
On basis of the financial statement of the parent company and owned subsidiaries prepared consolidated statement
in line with relevant information. The scope of consolidation of consolidated financial statements is ascertained on
the basis of effective control. Once certain elements involved in the above definition of control change due to
30无锡威孚高科技集团股份有限公司2022年半年度财务报告
changes of relevant facts or circumstances the Company will make separate assessment.
(2) Basis of control
Control is the right to govern an invested party so as to obtain variable return through participating in the invested
party’s relevant activities and the ability to affect such return by use of the aforesaid right over the invested
party.Relevant activates refers to activates have major influence on return of the invested party’s.
(3) Consolidation process
Subsidiaries are consolidated from the date on which the company obtains their actual control and are de-
consolidated from the date that such control ceases.All significant inter-group balances investment transactions
and unrealized profits are eliminated in the consolidated financial statements.For subsidiaries being disposed the
operating results and cash flows prior to the date of disposal are included in the consolidated income statement and
consolidated cash flow statement; for subsidiaries disposed during the period the opening balances of the
consolidated balance sheet would not be restated. For subsidiaries acquired from a business combination not under
common control their operating results and cash flows subsequent to the acquisition date are included in the
consolidated income statement and consolidated cash flow statement and the opening balances and comparative
figures of the consolidated balance sheet would not be restated. For subsidiaries acquired from a business
combination under common control their operating results and cash flows from the date of commencement of the
accounting period in which the combination occurred to the date of combination are included in the consolidated
income statement and consolidated cash flow statement and the comparative figures of the consolidated balance
sheet would be restated.In preparing the consolidated financial statements where the accounting policies or the accounting periods are
inconsistent between the company and subsidiaries the financial statements of subsidiaries are adjusted in
accordance with the accounting policies and accounting period of the company.Concerning the subsidiary obtained under combination with different control adjusted several financial statement
of the subsidiary based on the fair value of recognizable net assets on purchased day while financial statement
consolidation; concerning the subsidiary obtained under combination with same control considered current status
of being control by ultimate controller for consolidation while financial statement consolidation.The unrealized gains and losses from the internal transactions occurred in the assets the Company sold to the
subsidiaries fully offset "the net profit attributable to the owners of the parent company". The unrealized gains and
losses from the internal transactions occurred in the assets the subsidiaries sold to the Company are distributed and
offset between "the net profit attributable to the owners of the parent company" and "minority interest" according
to the distribution ratio of the Company to the subsidiary. The unrealized gains and losses from the internal
transactions occurred in the assets sold among the subsidiaries are distributed and offset between "the net profit
attributable to the owners of the parent company" and "minority interest" according to the distribution ratio of the
Company to the subsidiary of the seller.The share of the subsidiary’s ownership interest not attributable to the Company is listed as “minority interest” item
under the ownership interest in the consolidated balance sheet. The share of the subsidiary’s current profit or loss
attributable to the minority interests is listed as "minority interest" item under the net profit item in the consolidated
income statement. The share of the subsidiary’s current consolidated income attributable to the minority interests is
listed as the “total consolidated income attributable to the minority shareholders” item under the total consolidated
income item in the consolidated income statement. If there are minority shareholders add the "minority interests"
31无锡威孚高科技集团股份有限公司2022年半年度财务报告
item in the consolidated statement of change in equity to reflect the changes of the minority interests. If the losses
of the current period shared by a subsidiary’s minority shareholders exceed the share that the minority shareholders
hold in the subsidiary ownership interest in the beginning of the period the balance still charges against the minority
interests.When the control over a subsidiary is ceased due to disposal of a portion of an interest in a subsidiary the fair value
of the remaining equity interest is re-measured on the date when the control ceased. The difference between the sum
of the consideration received from disposal of equity interest and the fair value of the remaining equity interest less
the net assets attributable to the company since the acquisition date is recognized as the investment income from
the loss of control. Other comprehensive income relating to original equity investment in subsidiaries shall be treated
on the same basis as if the relevant assets or liabilities were disposed of by the purchaser directly when the control
is lost namely be transferred to current investment income other than the relevant part of the movement arising
from re-measuring net liabilities or net assets under defined benefit scheme by the original subsidiary. Subsequent
measurement of the remaining equity interests shall be in accordance with relevant accounting standards such as
Accounting Standards for business Enterprises 2 – Long-term Equity Investments or Accounting Standards for
business Enterprises 22 – Financial Instruments Recognition and Measurement.The company shall determine whether loss of control arising from disposal in a series of transactions should be
regarded as a bundle of transactions. When the economic effects and terms and conditions of the disposal
transactions met one or more of the following situations the transactions shall normally be accounted for as a bundle
of transactions: * The transactions are entered into after considering the mutual consequences of each individual
transaction; * The transactions need to be considered as a whole in order to achieve a deal in commercial
sense;* The occurrence of an individual transaction depends on the occurrence of one or more individual
transactions in the series; * The result of an individual transaction is not economical but it would be economical
after taking into account of other transactions in the series. When the transactions are not regarded as a bundle oftransactions the individual transactions shall be accounted as “disposal of a portion of an interest in a subsidiarywhich does not lead to loss of control” and “disposal of a portion of an interest in a subsidiary which lead to loss ofcontrol”. When the transactions are regarded as a bundle of transactions the transactions shall be accounted as a
single disposal transaction; however the difference between the consideration received from disposal and the share
of net assets disposed in each individual transactions before loss of control shall be recognized as other
comprehensive income and reclassified as profit or loss arising from the loss of control when control is lost.
7. Joint arrangement classification and accounting treatment for joint operations
In accordance with the Company’s rights and obligation under a joint arrangement the Company classifies joint
arrangements into: joint ventures and joint operations.The Company confirms the following items related to the share of interests in its joint operations and in accordance
with the provisions of the relevant accounting standards for accounting treatment:
(1) Recognize the assets held solely by the Company and recognize assets held jointly by the Company in
appropriation to the share of the Company;
(2) Recognize the obligations assumed solely by the Company and recognize obligations assumed jointly by the
Company in appropriation to the share of the Company;
(3) Recognize revenue from disposal of the share of joint operations of the Company;
(4) Recognize fees solely occurred by Company;
32无锡威孚高科技集团股份有限公司2022年半年度财务报告
(5) Recognize fees from joint operations in appropriation to the share of the Company.
8. Recognition standards for cash and cash equivalent
Cash refers to stock cash savings available for paid at any time; cash and cash equivalent refers to the cash held by
the Company with short terms(expired within 3 months since purchased) and liquid and easy to transfer as known
amount and investment with minor variation in risks.
9. Foreign currency business and conversion
The occurred foreign currency transactions are converted into the recording currency in accordance with the middle
rate of the market exchange rate published by the People's Bank of China on the transaction date. There into the
occurred foreign currency exchange or transactions involved in the foreign currency exchange are converted in
accordance with the actual exchange rate in the transactions.At the balance sheet date the account balance of the foreign currency monetary assets and liabilities is converted
into the recording currency amountin accordance with the middle rate of the market exchange rate published by the
People's Bank of China on the transaction date. The balance between the recording currency amount converted
according toexchange rate at the balance sheet date and the original recording currency amount is disposed as the
exchange gains or losses. There into theexchange gains or lossesoccurred in the foreign currency loans related to
the purchase and construction of fixed assets are disposed according to the principle of capitalization of borrowing
costs; the exchange gains and losses occurred during the start-up are included in the start-up costs; the rest is
included in the current financial expenses.At the balance sheet date the foreign currency non-monetary itemsmeasured withthe historical costs are convertedin
accordance with the middle rate of the market exchange rate published by the People's Bank of China on the
transaction datewithout changing its original recording currency amount; the foreign currency non-monetary
itemsmeasured with the fair value are convertedin accordance with the middle rate of the market exchange rate
published by the People's Bank of China on the fair value dateand the generated exchange gains and losses are
included in the current profits and losses as the gains and losses from changes in fair value.The following displays the methods for translating financial statements involving foreign operations into the
statements in RMB: The asset and liability items in the balance sheets for overseas operations are translated at thespot exchange rates on the balance sheet date. Among the owners’ equity items the items other than “undistributedprofits” are translated at the spot exchange rates of the transaction dates. The income and expense items in the
income statements of overseas operations are translated at the average exchange rates of the transaction dates.The
exchange difference arising from the above mentioned translation are recognized in other comprehensive income
and is shown separately under owner’ equity in the balance sheet; such exchange difference will be reclassified to
profit or loss in current year when the foreign operation is disposed according to the proportion of disposal.The cash flows of overseas operations are translated at the average exchange rates on the dates of the cash flows.The effect of exchange rate changes on cash is presented separately in the cash flow statement.
10. Financial instrument
Financial instrument is the contract that taken shape of the financial asses for an enterprise and of the financial
liability or equity instrument for other units.
(1) Recognition and termination of financial instrument
A financial asset or liability is recognized when the group becomes a party to a financial instrument contract.
33无锡威孚高科技集团股份有限公司2022年半年度财务报告
The recognition of a financial assets shall be terminated if it meets one of the following conditions:
* the contractual right to receive the cash flow of the financial assets terminates; and
* the financial assets is transferred and the company transfers substantially all the risks and rewards of ownership
of the financial asset to the transferring party;
* the financial asset was transferred and control although the company has neither transferred nor retained almost
all the risks and rewards of the ownership of a financial asset it relinquishes control over the financial asset.If all or part of the current obligations of a financial liability has been discharged the financial liability or part of it
is terminated for recognition. When the Company (debtor) and the creditor sign an agreement to replace the existing
financial liabilities with new financial liabilities and the new financial liabilities and the existing financial liabilities
are substantially different from the contract terms terminated the recognition of the existing financial liabilities and
recognize the new financial liabilities at the same time.Financial assets are traded in the normal way and their accounting recognition and terminated the recognition of
proceed on a trade date basis.
(2) Classification and measurement of financial assets
At the initial recognition according to the business model of managing financial assets and the contractual cash
flow characteristics of financial assets the Company classifies the financial assets into the financial assets measured
at amortized cost the financial assets measured at fair value and whose changes are included in other comprehensive
income and the financial assets measured at fair value and whose changes are included in current profit or loss.Financial assets are measured at fair value at initial recognition but if the receivables or receivables financing
arising from the sale of goods or the provision of services do not include a significant financing component or do
not consider a financing component that does not exceed one year it shall be initially measured in accordance with
the transaction value. For financial assets measured at fair value and whose changes are included in the current
profit or loss related transaction costs are directly included in the current profit and loss; for other types of financial
assets related transaction costs are included in the initially recognized amount.The business model for managing financial assets refers to how the Company manages financial assets to generate
cash flows. The business model determines whether the cash flow of financial assets managed by the Company is
based on contract cash flow selling financial assets or both. The Company determines the business model for
managing financial assets based on objective facts and based on the specific business objectives of financial assets
management determined by key management personnel.The Company evaluates the contractual cash flow characteristics of financial assets to determine whether the
contractual cash flows generated by the relevant financial assets on a specific date are only payments for the
principal and the interest based on the outstanding principal amount. The principal is the fair value of the financial
assets at initial recognition; the interest includes the time value of money the credit risk associated with the
outstanding principal amount for a specific period and other basic borrowing risks costs and consideration of profit.In addition the Company evaluates the contractual terms that may result in changes in the time distribution or the
amount of contractual cash flows of the financial assets to determine whether they meet the requirements of the
above contractual cash flow characteristics.Only when the Company changes its business model of managing financial assets all affected financial assets are
reclassified on the first day of the first reporting period after the business model changes otherwise the financial
assets are not allowed to be reclassified after initial recognition.
34无锡威孚高科技集团股份有限公司2022年半年度财务报告
* Financial assets measured at amortized cost
The Company classifies the financial assets that meet the following conditions and haven’t been designated as
financial assets measured at fair value and whose changes are included in current profit or loss as financial assets
measured at amortized cost:
A. the group's business model for managing the financial assets is to collect contractual cash flows; and
B. the contractual terms of the financial assets stipulate that cash flow generated on a specific date is only paid for
the principal and interest based on the outstanding principal amount.After initial recognition such financial assets are measured at amortized cost by using the effective interest method.Gains or losses arising from financial assets which are measured at amortized cost and are not a component of any
hedging relationship are included in current profit or loss when being terminated for recognition amortized by
effective interest method or impaired.* Financial assets measured at fair value and whose changes are included in other comprehensive income
The Company classifies the financial assets that meet the following conditions and haven’t been designated as
financial assets measured at fair value and whose changes are included in current profit or loss as financial assets
measured at fair value and whose changes are included in other comprehensive income:
A. the Group's business model for managing the financial assets is targeted at both the collection of contractual cash
flows and the sale of financial assets; and
B. the contractual terms of the financial asset stipulate that the cash flow generated on a specific date is only the
payment of the principal and the interest based on the outstanding principal amount.After initial recognition such financial assets are subsequently measured at fair value. Interests impairment losses
or gains and exchange gains and losses calculated by using the effective interest method are included in profit or
loss for the period and other gains or losses are included in other comprehensive income. When being terminate for
recognition the accumulated gains or losses previously included in other comprehensive income are transferred
from other comprehensive income and included in current profit or loss.* Financial assets measured at fair value and whose changes are included in current profit or loss
Except for the above financial assets measured at amortized cost and measured at fair value and whose changes are
included in other comprehensive income the Company classifies all other financial assets as financial assets
measured at fair value and whose changes are included in current profit or loss. In the initial recognition in order
to eliminate or significantly reduce accounting mismatch the Company irreversibly designates part of the financial
assets that should be measured at amortized cost or measured at fair value and whose changes are included in the
other comprehensive income as the financial assets measured at fair value and whose changes are included in current
profit or loss.After the initial recognition such financial assets are subsequently measured at fair value and the gains or losses
(including interests and dividend income) are included in the current profit and loss unless the financial assets are
part of the hedging relationship.However for non-trading equity instrument investments the Company irreversibly designates them as the financial
assets that are measured at fair value and whose changes are included in other comprehensive income in the initial
recognition. The designation is made based on a single investment and the relevant investment is in line with the
definition of equity instruments from the issuer's perspective. After initial recognition such financial assets are
subsequently measured at fair value. Dividend income that meets the conditions is included in profit or loss and
35无锡威孚高科技集团股份有限公司2022年半年度财务报告
other gains or losses and changes in fair value are included in other comprehensive income. When it is terminated
for recognition the accumulated gains or losses previously included in other comprehensive income are transferred
from other comprehensive income and included in retained earnings.
(3) Classification and measurement of financial liabilities
The financial liabilities of the Company are classified as financial liabilities measured at fair value and whose
changes are included in current profit or loss and financial liabilities measured at amortized cost at the initial
recognition. For financial liabilities that are not classified as financial liabilities measured at fair value and whose
changes are included in current profit or loss the related transaction expenses are included in the initial recognition
amount.* Financial liability measured by fair value and with variation reckoned into current gains/losses
Financial liability measured by fair value and with variation reckoned into current gains/losses including tradable
financial liability and the financial liabilities that are designated as fair value in the initial recognition and whose
changes are included in current profit or loss. For such financial liabilities the subsequent measurement is based on
fair value and the gains or losses arising from changes in fair value and the dividends and interest expenses related
to these financial liabilities are included in current profit or loss.* Financial liability measured by amortized cost
Other financial liabilities are subsequently measured at amortized cost by using the effective interest method. The
gain or loss arising from recognition termination or amortization is included in current profit or loss.* Distinctions between financial liabilities and equity instruments
Financial liabilities are liabilities that meet one of the following conditions:
A. Contractual obligations to deliver cash or other financial assets to other parties.B. Contractual obligations to exchange financial assets or financial liabilities with other parties under potentially
adverse conditions.C. Non-derivative contracts that must be settled or that can be settled by the company's own equity instruments in
the future and the enterprise will deliver a variable amount of its own equity instruments according to the contract.D. Derivative contracts that must be settled or that can be settled by the company's own equity instruments in the
future except for derivatives contracts that exchange a fixed amount of cash or other financial assets with a fixed
amount of their own equity instruments.An equity instrument is a contract that proves it has a residual equity in the assets of an enterprise after deducting
all liabilities.If the Company cannot unconditionally avoid performing a contractual obligation by delivering cash or other
financial assets the contractual obligation is consistent with the definition of financial liability.If a financial instrument is required to be settled or can be settled by the Company's own equity instruments it is
necessary to consider whether the Company's own equity instruments used to settle the instrument are a substitute
for cash or other financial assets or to make the instrument holder enjoy the residual equity in the assets of the
issuer after deducting all liabilities. In the former case the instrument is the Company's financial liability; if it is the
latter the instrument is the Company's equity instrument.
(4) Fair value of financial instruments
The company uses valuation techniques that are applicable under current circumstances and that have sufficient
available data and other information support to determine the fair value of related financial assets and financial
36无锡威孚高科技集团股份有限公司2022年半年度财务报告
liabilities. The company divides the input values used by valuation techniques into the following levels and uses
them in sequence:
* The first-level input value is the unadjusted quotation of the same assets or liabilities that can be obtained on the
measurement date in the active market;
* The second-level input value is the direct or indirect observable input value of the relevant assets or liabilities
other than the first-level input value including quotations of similar assets or liabilities in an active market;
quotations of same or similar assets or liabilities in an active market; other observable input value other than
quotations such as interest rate and yield curves that are observable during the normal quote interval; market-
validated input value etc.;
* The third-level input value is the unobservable input value of the relevant assets or liabilities including the
interest rate that cannot be directly observed or cannot be verified by observable market data stock volatility future
cash flow of the retirement obligation assumed in the business combination and financial forecasting made by its
own data etc.
(5) Impairment of financial assets
On the basis of expected credit losses the Company performs impairment treatment on financial assets measured
at amortized cost and creditors’ investmentetc. measured at fair value and whose changes are included in other
comprehensive income and recognize the provisions for loss.* Measurement of expected credit losses
Expected credit loss refers to the weighted average of credit losses of financial instruments weighted by the risk of
default. Credit loss refers to the difference between all contractual cash flows that the Company discounts at the
original actual interest rate and are receivable in accordance with contract and all cash flows expected to be received
that is the present value of all cash shortages. Among them for the purchase or source of financial assets that have
suffered credit impairment the Company discounts the financial assets at the actual interest rate adjusted by credit.When measuring expected credit losses the Company individually evaluates credit risk for financial assets with
significantly different credit risks such as receivables involving litigation and arbitration with the other party or
receivables having obvious indications that the debtor is likely to be unable to fulfill its repayment obligations and
so on.Except for the financial assets that separately assess the credit risks the Company classified the account receivable
according to their characteristic of risks calculated the expected credit losses on basis of portfolio. Basis for
determining the portfolio as follow:
A - Note receivable
Note receivable1: bank acceptance
Note receivable2: trade acceptance
B - Account receivable
Account receivable 1: receivable from clients
Account receivable 2: receivable from internal related party
C- Receivable financing
Receivable financing 1: bank acceptance
Receivable financing 2: trade acceptance
D- Other account receivables
37无锡威孚高科技集团股份有限公司2022年半年度财务报告
Other account receivables 1: receivable from internal related party
Other account receivables 2: receivable from others
As for the note receivable account receivable receivable financing and other account receivable classified in
portfolio by referring to the experience of historical credit loss the expected credit loss is calculated by combining
the current situation and the forecast of future economic conditions.Except for the financial assets adopting simplified metering method the Company assesses at each balance sheet
date whether its credit risk has increased significantly since initial recognition. If credit risk has not increased
significantly since initial recognition it is in the first stage the Company measures the loss provisions based on the
amount equivalent to the expected credit loss in the next 12 months; if the credit risk has increased significantly
since initial recognition but no credit impairment has occurred it is in the second stage the Companymeasures the
loss provisions based on the amount equivalent to the expected credit loss for the entire duration; if credit
impairment occurs after initial recognition it is in the third stage the Companymeasures the loss provisions based
on the amount equivalent to the expected credit loss for the entire duration.For financial instruments with low credit
risks at the balance sheet date the Company assumes that their credit risks have not increased significantly since
initial recognition.The Company evaluates the expected credit losses of financial instruments based on individual items and
portfolios.When assessing expected credit losses the Company considers reasonable and evidence-based
information about past events current conditions and forecasts of future economic conditions.When the Company no longer reasonably expects to be able to fully or partially recover the contractual cash flow
of a financial asset the Company directly writes down the book balance of the financial asset.* Assessment of a significant increase in credit risk:
The Company determines the relative changes in default risk of the financial instrument occurred in the expected
duration and assess whether the credit risks offinancial instrument has increased significantly since the initial
recognition by comparing the risk of default of the financial instrument on the balance sheet date with the risk of
default offinancial instrument on the initial recognition date. When determining whether the credit risk has increased
significantly since the initial recognition the Company considers reasonable and evidence-based information that
can be obtained without unnecessary additional costs or effort including forward-looking information. The
information considered by the Company includes:
A. The debtor fails to pay the principal and interest according to the contractual maturity date;
B. Serious worsening of external or internal credit rating (if any) of the financial instruments that have occurred or
are expected;
C. Serious deterioration of the debtor’s operating results that have occurred or are expected;
D. Changes in existing or anticipated technical market economic or legal circumstances that will have a material
adverse effect on the debtor's ability to repay the company.Based on the nature of financial instruments the Company assesses whether credit risk has increased significantly
on the basis of a single financial instrument or combination of financial instruments. When conducting an
assessment based on a combination of financial instruments the Company can classify financial instruments based
on common credit risk characteristics such as overdue information and credit risk ratings.The Company believes that financial assets are subject to default in the following circumstances:
The debtor is unlikely to pay the full amount to the Company and the assessment does not consider the Company
38无锡威孚高科技集团股份有限公司2022年半年度财务报告
to take recourse actions such as realizing collateral (if held).* Financial assets with credit impairment
On the balance sheet date the Company assesses whether the credit of financial assets measured at amortized cost
and the credit of debt investments measured at fair value and whose changes are included in other comprehensive
income has been impaired. When one or more events that adversely affect the expected future cash flows of a
financial asset occur the financial asset becomes a financial asset that has suffered credit impairment. Evidence that
credit impairment has occurred in financial assets includes the following observable information:
A. The issuer or the debtor has significant financial difficulties;
B. The debtor breaches the contract such as default or overdue repayment of interest or principal;
C. The Company gives concessions to the debtor that will not be made in any other circumstances for economic or
contractual considerations relating to the financial difficulties of the debtor;
D. The debtor is likely to go bankrupt or carry out other financial restructurings;
E. The financial difficulties of the issuer or the debtor have caused the active market of the financial asset to
disappear.* Presentation of expected credit loss provisions
In order to reflect the changes in the credit risk of financial instruments since the initial recognition the Company
re-measures the expected credit losses on each balance sheet date and the resulting increase or reversal of the loss
provisions shall be included in current profit and loss as impairment losses or gains. For financial assets measured
at amortized cost the loss provisions are written off against the book value of the financial assets listed in the
balance sheet; for debt investments measured at fair value and whose changes are included in other comprehensive
income the Company recognizes the loss provisions in other comprehensive income and does not deduct the book
value of the financial asset.* Write-off
If the Company no longer reasonably expects that the financial asset contract cash flow can be fully or partially
recovered directly write down the book balance of the financial asset. Such write-downs constitute the termination
of recognition for related financial assets. This usually occurs when the Company determines that the debtor has no
assets or sources of income to generate sufficient cash flow to repay the amount that will be written down. However
according to the Company's procedures for recovering the due amount the financial assets that have been written
down may still be affected by the execution activities.If the financial assets that have been written down are recovered afterwards they shall be included in the profit or
loss of the period being recovered as the reversal of the impairment loss
(6) Transfer of financial assets
The transfer of financial assets refers to the transfer or delivery of financial assets to the other party (the transferee)
other than the issuer of the financial assets.For financial assets that the Company has transferred almost all risks and rewards of ownership of financial assets
to the transferee terminate the recognition of the financial assets; if almost all the risks and rewards of ownership
of financial assets have been retained do not terminate the recognition of the financial assets.If the Company has neither transferred nor retained almost all the risks and rewards of ownership of financial assets
dispose as following situations: If the control of the financial assets is abandoned terminate the recognition of the
financial assets and determine the resulting assets and liabilities. If the control of the financial assets is not
39无锡威孚高科技集团股份有限公司2022年半年度财务报告
abandoned determine the relevant financial assets according to the extent to which they continue to be involved in
the transferred financial assets and determine the related liabilities accordingly.
(7) Balance-out between the financial assets and liabilities
As the Group has the legal right to balance out the financial liabilities by the net or liquidation of the financial assets
the balance-out sum between the financial assets and liabilities is listed in the balance sheet. In addition the financial
assets and liabilities are listed in the balance sheet without being balanced out.
11. Note receivable
Note receivable 1: bank acceptance
Note receivable 2: trade acceptance
The Company calculates expected credit losses by referring to historical credit loss experience taking into account
current conditions and forecasts of the future economic situation.
12.Account receivable
Account receivable 1: receivable from clients
Account receivable 2: receivable from internal related party
The Company calculates expected credit losses by referring to historical credit loss experience taking into account
current conditions and forecasts of the future economic situation.
13.Account receivable financing
The note receivable and account receivable which are measured at fair value and whose changes are included in
other comprehensive income are classified as receivables financing within one year(including one year) from the
date of acquisition. Relevant accounting policy found more in 10. Financial Instrument in Note V.
14.Other account receivables
Determination method of expected credit loss and accounting treatment
Other account receivables 1: receivable from internal related party
Other account receivables 2: receivable from others
The Company calculates expected credit losses by referring to historical credit loss experience taking into account
current conditions and forecasts of the future economic situation.
15.Inventory
(1) Classification of inventories
The Company’s inventories are categorized into stock materials product in process and stock goods etc.
(2) Pricing for delivered inventories
The cost of inventory at the time of acquisition and delivery is calculated according to the standard cost method
and the difference in cost that it should bear is carried forward at the end of the period and the standard cost is
adjusted to the actual cost.
(3) Recognition evidence for net realizable value of inventories and withdrawal method for inventory impairment
provision
Inventories as at period-end are priced at the lower of costs and net realizable values; at period end on the basis of
overall clearance about inventories inventory impairment provision is withdrew for uncollectible part of costs of
inventories which result from destroy of inventories out-of-time of all and part inventories or sales price lowering
40无锡威孚高科技集团股份有限公司2022年半年度财务报告
than cost. Inventory impairment provision for stock goods and quantity of raw materials is subject to the difference
between costs of single inventory item over its net realizable value. As for other raw materials with large quantity
and comparatively low unit prices inventory impairment provision is withdrawn pursuant to categories.As for finished goods commodities and materials available for direct sales their net realizable values are determined
by their estimated selling prices less estimated sales expenses and relevant taxes. For material inventories held for
purpose of production their net realizable values are determined by the estimated selling prices of finished products
less estimated costs estimated sales expenses and relevant taxes accumulated till completion of production. As for
inventories held for implementation of sales contracts or service contracts their net realizable values are calculated
on the basis of contract prices. In the event that inventories held by a company exceed order amount as agreed in
sales contracts net realizable values of the surplus part are calculated on the basis of normal sale price.
(4) Inventory system
Perpetual Inventory System is adopted by the Company and takes a physical inventory.
(5) Amortization of low-value consumables and wrappage
* Low-value consumables
The Company adopts one-off amortization method to amortize the low-value consumables.* Wrappage
The Company adopts one-off amortization method to amortize the wrappage at the time of receipt.
16.Contractual assets
The Company presents the Contractual assets or Contractual liability in the balance sheet based on the relationship
between the performance obligation and the customer’s payment.Recognition method and standard of Contractual assets: Contractual assets refer to the right of a company to receive
consideration after transferring goods or providing services to customers and this right depends on other factors
besides the passage of time. The company's unconditional (that is only depending on the passage of time) right to
collect consideration from customers are separately listed as receivables.Method for determining expected credit losses of Contractual assets: the method for determining expected credit
losses of Contractual assets is consistent with the method for determining expected credit losses of accounts
receivable.Accounting treatment method of expected credit losses of Contractual assets: if the Contractual assets are impaired
the company shall debit the "asset impairment loss" subject and credit the "contract asset impairment provision"
subject according to the amount that should be written down. When reversing the provision for asset impairment
that has already been withdrawn make opposite accounting entries.
17.Assets held for sale
The Company classifies non-current assets or disposal groups that meet all of the following conditions as held-for-
sale: according to the practice of selling this type of assets or disposal groups in a similar transaction the non-
current assets or disposal group can be sold immediately at its current condition; The sale is likely to occur that is
the Company has made resolution on the selling plan and obtained definite purchase commitment the selling is
estimated to be completed within one year. Those assets whose disposal is subject to approval from relevant
authority or supervisory department under relevant requirements are subject to that approval.Where the Company loses control over its subsidiary due to disposal of investment in the subsidiary whether or not
41无锡威孚高科技集团股份有限公司2022年半年度财务报告
the Company retains part equity investment after such disposal investment in the subsidiary shall be classified in
its entirety as held for sale in the separate financial statement of the parent company subject to that the investment
in the subsidiary proposed to be disposed satisfies the conditions for being classified as held for sale and all the
assets and liabilities of the subsidiary shall be classified as held for sale in consolidated financial statement.The purchase commitment identified refers to the legally binding purchase agreement entered into between the
Company and other parties which sets out certain major terms relating to transaction price time and adequately
stringent punishment for default which render an extremely minor possibility for material adjustment or revocation
of the agreement.Assets held for sale are measured at the lower of heir carrying value and fair value less selling expense. If the
carrying value is higher than fair value less selling expense the excess shall be recognized as impairment loss and
recorded in profit or loss for the period and allowance for impairment shall be provided for in respect of the assets.In respect of impairment loss recognized for disposal group held for sale carrying value of the goodwill in the
disposal group shall be deducted first and then deduct the carrying value of the non-current assets within the
disposal group applicable to this measurement standard on a pro rata basis according to the proportion taken by their
carrying value.If the net amount of fair value of non-current assets held for sale less sales expense on subsequent balance sheet
date increases the amount previously reduced for accounting shall be recovered and reverted from the impairment
loss recognized after the asset is classified under the category of held for sale with the amount reverted recorded in
profit or loss for the period. Impairment loss recognized before the asset is classified under the category of held for
sale shall not be reverted.If the net amount of fair value of the disposal group held for sale on the subsequent balance
sheet date less sales expenses increases the amount reduced for accounting in previous periods shall be restored
and shall be reverted in the impairment loss recognized in respect of the non-current assets which are applicable to
relevant measurement provisions after classification into the category of held for sale with the reverted amount
charged in profit or loss for the current period. The written-off carrying value of goodwill shall not be reverted.The non-current assets in the non-current assets or disposal group held for sale is not depreciated or amortized and
the debt interests and other fees in the disposal group held for sale continue to be recognized.If the non-current assets or disposal group are no longer classified as held for sale since they no longer meet the
condition of being classified as held for sale or the non-current assets are removed from the disposal group held for
sale they will be measured at the lower of the following:
(i)The amount after their book value before they are classified as held for sale is adjusted based on the depreciation
amortization or impairment that should have been recognized given they are not classified as held for sale;
(ii) The recoverable amount.
18.Long-term equity investment
Long-term equity investments refer to long-term equity investments in which the Company has control joint control
or significant influence over the invested party. Long-term equity investment without control or joint control or
significant influence of the Group is accounted for as available-for-sale financial assets or financial assets measured
by fair value and with variation reckoned into current gains/losses. As for other accounting policies found more in
“10. Financial instrument” in Note V.
(1) Determination of initial investment cost
Investment costs of the long-term equity investment are recognized by the follow according to different way of
42无锡威孚高科技集团股份有限公司2022年半年度财务报告
acquirement:
* For a long-term equity investment acquired through a business combination involving enterprises under common
control the initial investment cost of the long-term equity investment shall be the absorbing party’s share of the
carrying amount of the owner’s equity under the consolidated financial statements of the ultimate controlling party
on the date of combination. The difference between the initial cost of the long-term equity investment and the cash
paid non-cash assets transferred as well as the book value of the debts borne by the absorbing party shall offset
against the capital reserve. If the capital reserve is insufficient to offset the retained earnings shall be adjusted. If
the consideration of the merger is satisfied by issue of equity securities the initial investment cost of the long-term
equity investment shall be the absorbing party’s share of the carrying amount of the owner’s equity under the
consolidated financial statements of the ultimate controlling party on the date of combination. With the total face
value of the shares issued as share capital the difference between the initial cost of the long-term equity investment
and total face value of the shares issued shall be used to offset against the capital reserve. If the capital reserve is
insufficient to offset the retained earnings shall be adjusted. For business combination resulted in an enterprise
under common control by acquiring equity of the absorbing party under common control through a stage-upapproach with several transactions these transactions will be judged whether they shall be treat as “transactions ina basket”. If they belong to “transactions in a basket” these transactions will be accounted for a transaction in
obtaining control. If they are not belong to “transactions in a basket” the initial investment cost of the long-term
equity investment shall be the absorbing party’s share of the carrying amount of the owner’s equity under the
consolidated financial statements of the ultimate controlling party on the date of combination. The difference
between the initial cost of the long-term equity investment and the aggregate of the carrying amount of the long-
term equity investment before merging and the carrying amount the additional consideration paid for further share
acquisition on the date of combination shall offset against the capital reserve. If the capital reserve is insufficient to
offset the retained earnings shall be adjusted. Other comprehensive income recognized as a result of the previously
held equity investment accounted for using equity method on the date of combination or recognized for available-
for-sale financial assets will not be accounted for.* For the long-term equity investment obtained by business combination not under the same control the fair value
of the assets involved the equity instruments issued and the liabilities incurred or assumed on the transaction date
plus the combined cost directly related to the acquisition is used as the initial investment cost of the long-term equity
investment. The identifiable assets of the combined party and the liabilities (including contingent liabilities)
assumed by the combined party on the combining date are all measured at fair value regardless of the amount of
minority shareholders’ equity. The amount of the combined cost exceeding the fair value of the identifiable net
assets of the combined party obtained by the Company is recorded as goodwill and the amount below the fair value
of the identifiable net assets of the combining party is directly recognized in the consolidated income statement.(For
business combination resulted in an enterprise not under common control by acquiring equity of the acquire under
common control through a stage-up approach with several transactions these transactions will be judged whether
they shall be treat as “transactions in a basket”. If they belong to “transactions in a basket” these transactions will
be accounted for a transaction in obtaining control. If they are not belong to “transactions in a basket” the initial
investment cost of the long-term equity investment accounted for using cost method shall be the aggregate of the
carrying amount of equity investment previously held by the acquire and the additional investment cost. For
previously held equity accounted for using equity method relevant other comprehensive income will not be
43无锡威孚高科技集团股份有限公司2022年半年度财务报告
accounted for. For previously held equity investment classified as available-for-sale financial asset the difference
between its fair value and carrying amount as well as the accumulated movement in fair value previously included
in the other comprehensive income shall be transferred to profit or loss for the current period.)
* Long-term investments obtained through other ways:
A. Initial investment cost of long-term equity investment obtained through cash payment is determined according
to actual payment for purchase;
B. Initial investment cost of long-term equity investment obtained through issuance of equity securities is
determined at fair value of such securities;
C. Initial investment cost of long-term equity investment (exchanged-in) obtained through exchange with non-
monetary assets which is of commercial nature is determined at fair value of the assets exchanged-out; otherwise
determined at carrying value of the assets exchanged-out if it is not of commercial nature;
D. Initial investment cost of long-term equity investment obtained through debt reorganization is determined at fair
value of such investment.
(2) Subsequent measurement on long-term equity investment
* Presented controlling ability on invested party the investment shall use cost method for measurement.* Long-term equity investments with joint control (excluding those constitute joint ventures) or significant
influence on the invested party are accounted for using equity method.Under the equity method where the initial investment cost of a long-term equity investment exceeds the investor’s
interest in the fair value of the invested party’s identifiable net assets at the acquisition date no adjustment shall be
made to the initial investment cost. Where the initial investment cost is less than the investor’s interest in the fair
value of the invested party’s identifiable net assets at the acquisition date the difference shall be charged to profit
or loss for the current period and the cost of the long term equity investment shall be adjusted accordingly.Under the equity method investment gain and other comprehensive income shall be recognized based on the
Group’s share of the net profits or losses and other comprehensive income made by the invested party respectively.Meanwhile the carrying amount of long-term equity investment shall be adjusted. The carrying amount of long-
term equity investment shall be reduced based on the Group’s share of profit or cash dividend distributed by the
invested party. In respect of the other movement of net profit or loss other comprehensive income and profit
distribution of invested party the carrying value of long-term equity investment shall be adjusted and included in
the capital reserves. The Group shall recognize its share of the invested party’s net profits or losses based on the
fair values of the invested party’s individual separately identifiable assets at the time of acquisition after making
appropriate adjustments thereto. In the event of in-conformity between the accounting policies and accounting
periods of the invested party and the Company the financial statements of the invested party shall be adjusted in
conformity with the accounting policies and accounting periods of the Company. Investment gain and other
comprehensive income shall be recognized accordingly. In respect of the transactions between the Group and its
associates and joint ventures in which the assets disposed of or sold are not classified as operation the share of
unrealized gain or loss arising from inter-group transactions shall be eliminated by the portion attributable to the
Company. Investment gain shall be recognized accordingly. However any unrealized loss arising from inter-group
transactions between the Group and an invested party is not eliminated to the extent that the loss is impairment loss
of the transferred assets. In the event that the Group disposed of an asset classified as operation to its joint ventures
or associates which resulted in acquisition of long-term equity investment by the investor without obtaining control
44无锡威孚高科技集团股份有限公司2022年半年度财务报告
the initial investment cost of additional long-term equity investment shall be the fair value of disposed operation.The difference between initial investment cost and the carrying value of disposed operation will be fully included
in profit or loss for the current period. In the event that the Group sold an asset classified as operation to its associates
or joint ventures the difference between the carrying value of consideration received and operation shall be fully
included in profit or loss for the current period. In the event that the Company acquired an asset which formed an
operation from its associates or joint ventures relevant transaction shall be accounted for in accordance with
“Accounting Standards for Business Enterprises No. 20 “Business combination”. All profit or loss related to the
transaction shall be accounted for.The Group’s share of net losses of the invested party shall be recognized to the extent that the carrying amount of
the long-term equity investment together with any long-term interests that in substance form part of the investor’s
net investment in the invested party are reduced to zero. If the Group has to assume additional obligations the
estimated obligation assumed shall be provided for and charged to the profit or loss as investment loss for the period.Where the invested party is making profits in subsequent periods the Group shall resume recognizing its share of
profits after setting off against the share of unrecognized losses.* Acquisition of minority interest
Upon the preparation of the consolidated financial statements since acquisition of minority interest increased of
long-term equity investment which was compared to fair value of identifiable net assets recognized which are
measured based on the continuous measurement since the acquisition date (or combination date) of subsidiaries
attributable to the Group calculated according to the proportion of newly acquired shares the difference of which
recognized as adjusted capital surplus capital surplus insufficient to set off impairment and adjusted retained
earnings.* Disposal of long-term equity investments
In these consolidated financial statements for disposal of a portion of the long-term equity investments in a
subsidiary without loss of control the difference between disposal cost and disposal of long-term equity investments
relative to the net assets of the subsidiary is charged to the owners’ equity. If disposal of a portion of the long-term
equity investments in a subsidiary by the parent company results in a change in control it shall be accounted for inaccordance with the relevant accounting policies as described in Note V.-6 “Preparation Method of the ConsolidatedFinancial Statements”.On disposal of a long-term equity investment otherwise the difference between the carrying amount of the
investment and the actual consideration paid is recognized through profit or loss in the current period.In respect of long-term equity investment accounted for using equity method with the remaining equity interest after
disposal also accounted for using equity method other comprehensive income previously under owners’ equity
shall be accounted for in accordance with the same accounting treatment for direct disposal of relevant asset or
liability by invested party on pro rata basis at the time of disposal. The owners’ equity recognized for the movement
of other owners’ equity (excluding net profit or loss other comprehensive income and profit distribution of invested
party) shall be transferred to profit or loss for the current period on pro rata basis.In respect of long-term equity investment accounted for using cost method with the remaining equity interest after
disposal also accounted for cost equity method other comprehensive income measured and reckoned under equity
method or financial instrument before control of the invested party unit acquired shall be accounted for in
accordance with the same accounting treatment for direct disposal of relevant asset or liability by invested party on
45无锡威孚高科技集团股份有限公司2022年半年度财务报告
pro rata basis at the time of disposal and shall be transferred to profit or loss for the current period on pro rata basis;
among the net assets of invested party unit recognized by equity method (excluding net profit or loss other
comprehensive income and profit distribution of invested party) shall be transferred to profit or loss for the current
period on pro rata basis.In the event of loss of control over invested party due to partial disposal of equity investment by the Group in
preparing separate financial statements the remaining equity interest which can apply common control or impose
significant influence over the invested party after disposal shall be accounted for using equity method. Such
remaining equity interest shall be treated as accounting for using equity method since it is obtained and adjustment
was made accordingly. For remaining equity interest which cannot apply common control or impose significant
influence over the invested party after disposal it shall be accounted for using the recognition and measurement
standard of financial instruments. The difference between its fair value and carrying amount as at the date of losing
control shall be included in profit or loss for the current period. In respect of other comprehensive income recognized
using equity method or the recognition and measurement standard of financial instruments before the Group
obtained control over the invested party it shall be accounted for in accordance with the same accounting treatment
for direct disposal of relevant asset or liability by invested party at the time when the control over invested party is
lost. Movement of other owners’ equity (excluding net profit or loss other comprehensive income and profit
distribution under net asset of invested party accounted for and recognized using equity method) shall be transferred
to profit or loss for the current period at the time when the control over invested party is lost. Of which for the
remaining equity interest after disposal accounted for using equity method other comprehensive income and other
owners’ equity shall be transferred on pro rata basis. For the remaining equity interest after disposal accounted for
using the recognition and measurement standard of financial instruments other comprehensive income and other
owners’ equity shall be fully transferred.In the event of loss of common control or significant influence over invested party due to partial disposal of equity
investment by the Group the remaining equity interest after disposal shall be accounted for using the recognition
and measurement standard of financial instruments. The difference between its fair value and carrying amount as at
the date of losing common control or significant influence shall be included in profit or loss for the current period.In respect of other comprehensive income recognized under previous equity investment using equity method it
shall be accounted for in accordance with the same accounting treatment for direct disposal of relevant asset or
liability by invested party at the time when equity method was ceased to be used. Movement of other owners’ equity
(excluding net profit or loss other comprehensive income and profit distribution under net asset of invested party
accounted for and recognized using equity method) shall be transferred to profit or loss for the current period at the
time when equity method was ceased to be used.The Group disposes its equity investment in subsidiary by a stage-up approach with several transactions until the
control over the subsidiary is lost. If the said transactions belong to “transactions in a basket” each transaction shall
be accounted for as a single transaction of disposing equity investment of subsidiary and loss of control. The
difference between the disposal consideration for each transaction and the carrying amount of the corresponding
long-term equity investment of disposed equity interest before loss of control shall initially recognized as other
comprehensive income and subsequently transferred to profit or loss arising from loss of control for the current
period upon loss of control.
(3) Impairment test method and withdrawal method for impairment provision
46无锡威孚高科技集团股份有限公司2022年半年度财务报告Found more in Note V-25.”impairment of long-term assets”
(4) Criteria of Joint control and significant influence
Joint control is the Company’s contractually agreed sharing of control over an arrangement which relevant activities
of such arrangement must be decided by unanimously agreement from parties who share control. All the participants
or participant group whether have controlling over such arrangement as a group or not shall be judge firstly than
judge that whether the decision-making for such arrangement are agreed unanimity by the participants or not.Significant influence is the power of the Company to participate in the financial and operating policy decisions of
an invested party but to fail to control or joint control the formulation of such policies together with other
parties.While recognizing whether have significant influence by invested party the potential factors of voting power
as current convertible bonds and current executable warrant of the invested party held by investors and other parties
shall be thank over.
19.Investment real estate
Measurement model of investment real estate
Cost measurement
Depreciation or amortization
Investment real estate is stated at cost. During which the cost of externally purchased properties held-for-investment
includes purchasing price relevant taxes and surcharges and other expenses which are directly attributable to the
asset. Cost of self construction of properties held for investment is composed of necessary expenses occurred for
constructing those assets to a state expected to be available for use. Properties held for investment by investors are
stated at the value agreed in an investment contract or agreement but those under contract or agreement without
fair value are stated at fair value.The Company adopts cost methodology amid subsequent measurement of properties held for investment while
depreciation and amortization is calculated using the straight-line method according to their estimated useful lives.The basis of provision for impairment of properties held for investment is referred to Note V-“25.Impairment oflong-term assets”
20.Fix assets
(1) Recognition conditions
Fixed assets refer to the tangible assets for production of products provision of labor lease or operation with a
service life excess one year and has more unit value.
(2) Depreciation methods
Years of depreciation Scrap value rate Yearly depreciation
Category Depreciation method（year） （%） rate（%）
House and Building Straight-line depreciation 20～35 5 2.71～4.75
Machinery equipment Straight-line depreciation 10 5 9.50
Transportation equipment Straight-line depreciation 4～5 5 19.00～23.75
Electronic and other
Straight-line depreciation 3～10 5 9.50～31.67
equipment
For the fixed assets with impairment provision the depreciation amount shall be calculated after deducting the
accumulated amount of impairment provision for fixed assets
(3) Recognition basis valuation and depreciation method for financial lease assets
Not applicable
47无锡威孚高科技集团股份有限公司2022年半年度财务报告
(4) The impairment test method and provision for impairment of fixed assetsThe impairment test method and provision for impairment of fixed assets found more in Note V-25.“Impairmentof long-term assets”.
21.Construction in progress
From the date on which the fixed assets built by the Company come into an expected usable state the projects under
construction are converted into fixed assets on the basis of the estimated value of project estimates or pricing or
project actual costs etc. Depreciation is calculated from the next month. Further adjustments are made to the
difference of the original value of fixed assets after final accounting is completed upon completion of projects.The basis of provision for impairment of properties held for construction in processis referred to Note V-“25.Impairment of long-term assets”
22.Borrowing costs
(1) Recognition of capitalization of borrowing costs
Borrowing costs comprise interest occurred amortization of discounts or premiums ancillary costs and exchange
differences in connection with foreign currency borrowings. The borrowing costs of the Company which incur from
the special borrowings occupied by the fixed assets that need more than one year (including one year) for
construction development of investment properties or inventories or from general borrowings are capitalized and
recorded in relevant assets costs; other borrowing costs are recognized as expenses and recorded in the profit or loss
in the period when they are occurred. Relevant borrowing costs start to be capitalized when all of the following
three conditions are met:
* Capital expenditure has been occurred;
* Borrowing costs have been occurred;
* Acquisition or construction necessary for the assets to come into an expected usable state has been carried out.
(2) Period of capitalization of borrowing costs
Borrowing costs arising from purchasing fixed asset investment real estate and inventory and occurred after such
assets reached to its intended use of status or sales than reckoned into assets costs while satisfy the above mentioned
capitalization condition; capitalization of borrowing costs shall be suspended and recognized as current expenditure
during periods in which construction of fixed assets investment real estate and inventory are interrupted abnormally
when the interruption is for a continuous period of more than 3 months until the acquisition construction or
production of the qualifying asset is resumed; capitalization shall discontinue when the qualifying asset is ready for
its intended use or sale the borrowing costs occurred subsequently shall reckoned into financial expenses while
occurring for the current period.
(3) Measure of capitalization for borrowing cost
In respect of the special borrowings borrowed for acquisition construction or production and development of the
assets qualified for capitalization the amount of interests expenses of the special borrowings actually occurred in
the period less interest income derived from unused borrowings deposited in banks or less investment income
derived from provisional investment are recognized.With respect to the general borrowings occupied for acquisition construction or production and development of the
assets qualified for capitalization the capitalized interest amount for general borrowings is calculated and
recognized by multiplying a weighted average of the accumulated expenditure on the assets in excess of the
48无锡威孚高科技集团股份有限公司2022年半年度财务报告
expenditure on the some assets of the special borrowings by a capitalization rate for general borrowings. The
capitalization rate is determined by calculation of the weighted average interest rate of the general borrowings.
23.Right-of-use assets
The right-of-use asset refers to the right of the Company as the lessee to use the leased asset during the lease term.On the commencement date of the lease term the Company recognizes the 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. The cost includes
the initial measurement amount of the lease liability; the lease payments made on or before the commencement date
of the lease term deduct the relevant amount of the lease incentive already enjoyedif there is a lease incentive;the
initial direct expenses incurred by the lessee; the cost expected to be incurred by the lessee to dismantle and remove
the leased assets restore the site where the leased assets locate or restore the leased assets to the condition agreed
upon in the lease terms but this does not includethe cost attributable to the production of inventory.The Company subsequently uses the straight-line method to depreciate the right-of-use assets. If it can be reasonably
determined that the ownership of the leased asset can be obtained at the expiration of the lease term the Company
shall accrue depreciation over the remaining useful life of the leased asset. If it cannot be reasonably determined
that the ownership of the leased asset can be obtained at the expiration of the lease term the Company shall accrue
depreciation within the shorter of the lease term and the remaining useful life of the leased asset. When the
recoverable amount is lower than the book value of the right-of-use asset the Company shall write down its book
value to the recoverable amount.
24. Intangible assets
(1) Measurement use of life and impairment testing
* Measurement of intangible assets
The intangible assets of the Company including land use rights patented technology and non-patents technology
etc.The cost of a purchased intangible asset shall be determined by the expenditure actually occurred and other related
costs.The cost of an intangible asset contributed by an investor shall be determined in accordance with the value stipulated
in the investment contract or agreement except where the value stipulated in the contract or agreement is not fair.The intangible assets acquired through exchange of non-monetary assets which is commercial in substance is
carried at the fair value of the assets exchanged out; for those not commercial in substance they are carried at the
carrying amount of the assets exchanged out.The intangible assets acquired through debt reorganization are recognized at the fair value.* Amortization methods and time limit for intangible assets:
Land use right of the company had average amortization by the transfer years from the beginning date of transfer
(date of getting land use light); Patented technology non-patented technology and other intangible assets of the
Company are amortizedby straight-line method with the shortest terms among expected useful life benefit years
regulated in the contract and effective age regulated by the laws. The amortization amount shall count in relevant
assets costs and current gains/losses according to the benefit object.As for the intangible assets as trademark with uncertain benefit terms amortization shall not be carried.Impairment testing methods and accrual for depreciation reserves for the intangible assets found more in Note V-
49无锡威孚高科技集团股份有限公司2022年半年度财务报告
“25.Impairment of long-term assets”.
(2)Internal accounting policies relating to research and development expenditures
Expenses incurred during the research phase are recognized as profit or loss in the current period; expenses incurred
during the development phase that satisfy the following conditions are recognized as intangible assets (patented
technology and non-patents technology):
* It is technically feasible that the intangible asset can be used or sold upon completion;
* there is intention to complete the intangible asset for use or sale;
* The products produced using the intangible asset has a market or the intangible asset itself has a market;
* there is sufficient support in terms of technology financial resources and other resources in order to complete the
development of the intangible asset and there is capability to use or sell the intangible asset;
* the expenses attributable to the development phase of the intangible asset can be measured reliably.If the expenses incurred during the development phase did not qualify the above mentioned conditions such
expenses incurred are accounted for in the profit or loss for the current period.The development expenditure
reckoned in gains/losses previously shall not be recognized as assets in later period. The capitalized expenses in
development stage listed as development expenditure in balance sheet and shall be transfer as intangible assets
since such item reached its expected conditions for service.
25. Impairment of long-term assets
The Company will judge if there is any indication of impairment as at the balance sheet date in respect of non-
current non-financial assets such as fixed assets construction in progress intangible assets with a finite useful life
investment properties measured at cost and long-term equity investments in subsidiaries joint controlled entities
and associates. If there is any evidence indicating that an asset may be impaired recoverable amount shall be
estimated for impairment test. Goodwill intangible assets with an indefinite useful life and intangible assets beyond
working conditions will be tested for impairment annually regardless of whether there is any indication of
impairment.If the impairment test result shows that the recoverable amount of an asset is less than its carrying amount the
impairment provision will be made according to the difference and recognized as an impairment loss. The
recoverable amount of an asset is the higher of its fair value less costs of disposal and the present value of the future
cash flows expected to be derived from the asset. An asset’s fair value is the price in a sale agreement in an arm’s
length transaction. If there is no sale agreement but the asset is traded in an active market fair value shall be
determined based on the bid price. If there is neither sale agreement nor active market for an asset fair value shall
be based on the best available information. Costs of disposal are expenses attributable to disposal of the asset
including legal fee relevant tax and surcharges transportation fee and direct expenses incurred to prepare the asset
for its intended sale. The present value of the future cash flows expected to be derived from the asset over the course
of continued use and final disposal is determined as the amount discounted using an appropriately selected discount
rate. Provisions for assets impairment shall be made and recognized for the individual asset. If it is not possible to
estimate the recoverable amount of the individual asset the Group shall determine the recoverable amount of the
asset group to which the asset belongs. The asset group is the smallest group of assets capable of generating cash
flows independently.For the purpose of impairment testing the carrying amount of goodwill presented separately in the financial
statements shall be allocated to the asset groups or group of assets benefiting from synergy of business combination.
50无锡威孚高科技集团股份有限公司2022年半年度财务报告
If the recoverable amount is less than the carrying amount the Group shall recognize an impairment loss. The
amount of impairment loss shall first reduce the carrying amount of any goodwill allocated to the asset group or set
of asset groups and then reduce the carrying amount of other assets (other than goodwill) within the asset group or
set of asset groups pro rata on the basis of the carrying amount of each asset.An impairment loss recognized on the aforesaid assets shall not be reversed in a subsequent period in respect of the
part whose value can be recovered.
26.Long-term deferred expenses
Long-term expenses to be amortized of the Company the expenses that are already charged and with the beneficial
term of more than one year are evenly amortized over the beneficial term. For the long-term deferred expense items
cannot benefit the subsequent accounting periods the amortized value of such items is all recorded in the profit or
loss during recognition.
27.Contractual liability
The Company lists the obligation to transfer goods or provide labor services to customers for the consideration
received or receivable from customers as contractual liabilities such as the amount that the company has received
before the transfer of the promissorygoods.
28. Employee compensation
(1) Accounting treatment for short-term compensation
During the accounting period when the staff providing service to the Company the short-term remuneration actual
occurred shall recognized as liability and reckoned into current gains/losses. During the accounting period when
staff providing service to the Company the actual short-term compensation occurred shall recognized as liabilities
and reckoned into current gains/losses except for those in line with accounting standards or allow to reckoned into
capital costs; the welfare occurred shall reckoned into current gains/losses or relevant asses costs while actually
occurred. The employee compensation shall recognize as liabilities and reckoned into current gains/losses or
relevant assets costs while actually occurred. The employee benefits that belong to non-monetary benefits are
measured in accordance with the fair value; the social insurances including the medical insurance work-injury
insurance and maternity insurance and the housing fund that the enterprise pays for the employees as well as the
labor union expenditure and employee education funds withdrawn by rule should be calculated and determined as
the corresponding compensation amount and determined the corresponding liabilities in accordance with the
specified withdrawing basis and proportion and reckoned in the current profits and losses or relevant asset costs in
the accounting period that the employees provide services.
(2) Accounting treatment for post-employment benefit
The post-employment benefit included the defined contribution plans and defined benefit plans. Post-employment
benefits plan refers to the agreement about the post-employment benefits between the enterprise and employees or
the regulations or measures the enterprise established for providing post-employment benefits to employees.Thereinto the defined contribution plan refers to the post-employment benefits plan that the enterprise doesn’t
undertake the obligation of payment after depositing the fixed charges to the independent fund; the defined benefit
plans refers to post-employment benefits plans except the defined contribution plan.
(3) Accounting treatment for retirement benefits
When the Company terminates the employment relationship with employees before the end of the employment
51无锡威孚高科技集团股份有限公司2022年半年度财务报告
contracts or provides compensation as an offer to encourage employees to accept voluntary redundancy the
Company shall recognize employee compensation liabilities arising from compensation for staff dismissal and
included in profit or loss for the current period when the Company cannot revoke unilaterally compensation for
dismissal due to the cancellation of labor relationship plans and employee redundant proposals; and the Company
recognize cost and expenses related to payment of compensation for dismissal and restructuring whichever is earlier.The early retirement plan shall be accounted for in accordance with the accounting principles for compensation for
termination of employment. The salaries or wages and the social contributions to be paid for the employees who
retire before schedule from the date on which the employees stop rendering services to the scheduled retirement
date shall be recognized (as compensation for termination of employment) in the current profit or loss by the Group
if the recognition principles for provisions are satisfied.
(4) Accounting treatment for other long-term employee benefits
Except for the compulsory insurance the Company provides the supplementary retirement benefits to the employees
satisfying some conditions the supplementary retirement benefits belong to the defined benefit plans and the
defined benefit liability confirmed on the balance sheet is the value by subtracting the fair value of plan assets from
the present value of defined benefit obligation. The defined benefit obligation is annually calculated in accordance
with the expected accumulated welfare unit method by the independent actuary by adopting the treasury bond rate
with similar obligation term and currency. The service charges related to the supplementary retirement benefits
(including the service costs of the current period the previous service costs and the settlement gains or losses) and
the net interest are reckoned in the current profits and losses or other asset costs the changes generated by
recalculating the net liabilities of defined benefit plans or net assets should be reckoned in other consolidated income.
29.Lease liability
Substantialon the commencement date of the lease term the Company recognizes the present value of the unpaid
lease payments as lease liabilities. Lease payments include the following five items: fixed payments and in-
substance fixed payments if there is a lease incentive deduct the amount related to the lease incentive; variable
lease payments that depend on an index or ratio which are determinedat the initial measurement according to the
index or ratio determination on the commencement date of lease term; exercise price for a purchase option provided
that the lessee is reasonably certain that the option shall be exercised; payments for exercising the option to terminate
the lease provided that the lease term reflects that the lessee shall exercise the option to terminate the lease option;
estimated payments due based on guaranteed residual value provided by the lessee.When calculating the present value of lease payments the interest rate implicit in the lease is used as the discount
rate. If the interest rate implicit in the lease cannot be 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 in the current profit and loss unless it is otherwise
stipulated to be included in the cost of the relevant assets. Variable lease payments that are not included in the
measurement of lease liabilities are included in the current profit and loss when they are actually incurred unless
otherwise stipulated to be included in the cost of the relevant assets. After the commencement date of the lease term
when there is a change in the in-substance fixed payment or a change in the estimated amount payable for
theguaranteed residual value or a change in the index or ratio used to determine the lease payment or a change in
the evaluation results of the purchase option renewal option or termination option or when the actual exercise
52无锡威孚高科技集团股份有限公司2022年半年度财务报告
situation changes the Company shall re-measure the lease liability according to the present value of the changed
lease payments.
30. Accrual liability
(1) Recognition principle
An obligation related to a contingency such as guarantees provided to outsiders pending litigation or arbitration
product warranties redundancy plans onerous contracts reconstructing expected disposal of fixed assets etc. shall
be recognized as an estimated liability when all of the following conditions are satisfied:
* the obligation is a present obligation of the Company;
* it is Contingent that an outflow of economic benefits will be required to settle the obligation;
* the amount of the obligation can be measured reliably.
(2) Measurement method: Measure on the basis of the best estimates of the expenses necessary for paying off the
contingencies
31. Share-based payment
The Company’s share-based payment is a transaction that grants equity instruments or assumes liabilities
determined on the basis of equity instruments in order to obtain services provided by employees or other parties.The Company’s share-based payment is classified as equity-settled share-based payment and cash-settled share-
based payment.
(1) Equity-settled share-based payment and equity instruments
Equity-settled share-based payment in exchange for services provided by employees shall be measured at the fair
value of the equity instruments granted to employees. If the Company uses restricted stocks for share-based payment
employees contribute capital to subscribe for stocks and the stocks shall not be listed for circulation or transfer until
the unlocking conditions are met and unlocked; if the unlocking conditions specified in the final equity incentive
plan are not met the Company shall repurchase the stocks at the pre-agreed price. When the Company obtains the
payment for the employees to subscribe for restricted stocks it shall confirm the share capital and capital reserve
(share capital premium) according to the obtained subscription money and at the same time recognize a liability in
full for the repurchase obligation and recognize treasury shares. On each balance sheet date during the waiting
period the Company makes the best estimate of the number of vesting equity instruments based on the changes in
the latest obtained number of vested employees whether they meet the specified performance conditions and other
follow-up information. On this basis the services obtained in the current period are included in related costs or
expenses based on the fair value on the grant date and the capital reserve shall be increasedaccordingly.For share-based payments that cannot be vested in the end costs or expenses shall not be recognized unless the
vesting conditions are market conditions or non-vesting conditions. At this time regardless of whether the market
conditions or the non-vesting conditions are met as long as all non-market conditions in the vesting conditions are
met it is deemed as vesting.If the terms of equity-settled share-based payment are modified at least the services obtained should be confirmed
in accordance with the unmodified terms. In addition any modification that increases the fair value of the equity
instruments granted or a change that is beneficial to employees on the modification date is recognized as an
increase in services received.If the equity-settled share payment is canceled it will be treated as an accelerated vesting on the cancellation day
53无锡威孚高科技集团股份有限公司2022年半年度财务报告
and the unconfirmed amount will be confirmed immediately. If an employee or other party can choose to meet the
non-vesting conditions but fails to meet within the waiting period it shall be treated as cancellation of equity-settled
share-based payment. However if a new equity instrument is granted and it is determined on the date of grant of
the new equity instrument that the new equity instrument granted is used to replace the cancelled equity instrument
the granted substitute equity instruments shall be treated in the same way as the modification of the original equity
instrument terms and conditions.
(2) Cash-settled share-based payment and equity instruments
Cash-settled share-based payments are measured at the fair value of the liabilities calculated and determined on the
basis of shares or other equity instruments undertaken by the Company. If it’s vested immediately after the grant
the fair value of the liabilities assumed on the date of the grant is included in the cost or expense and the liability
is increased accordingly. If the service within the waiting period is completed or the specified performance
conditions are met the service obtained in the current period shall be included in the relevant costs or expenses
based on the best estimate of the vesting situation within the waiting periodand the fair value of the liabilities
assumed to increase the corresponding liabilities. On each balance sheet date and settlement date before the
settlement of the relevant liabilities the fair value of the liabilities is remeasured and the changes are included in
the current profit and loss.
32. Revenue
(1) Accounting policies used in revenue recognition and measurement
1)Revenue recognition principle
On the starting date of the contract the company evaluates the contract identifies each individual performance
obligation contained in the contract and determines whether each individual performance obligation is performed
within a certain period of time or at a certain point in time.When one of the following conditions is met it belongs to the performance obligation within a certain period of
time otherwise it belongs to the performance obligation at a certain point in time: * The customer obtains and
consumes the economic benefits brought by the company's performance while the company performs the contract;
* The customer can control the goods or services under construction during the company’s performance; * The
goods or services produced during the company’s performance have irreplaceable uses and the company has the
right to collect payment for the performance part that has been completed so far during the entire contract period.For performance obligations performed within a certain period of time the company recognizes revenue in
accordance with the performance progress during that period. When the performance progress cannot be reasonably
determined if the cost incurred is expected to be compensated the revenue shall be recognized according to the
amount of the cost incurred until the performance progress can be reasonably determined.For performance
obligations performed at a certain point in time revenue is recognized at the point when the customer obtains control
of the relevant goods or services. When judging whether the customer has obtained control of the goods the
company considers the following signs:* The company has the current right to receive payment for the goods that
is the customer has the current payment obligation for the goods; * 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 physically taken possession of the goods;
* The company has transferred the main risks and rewards of the ownership of the goods to the customer that is
the customer has obtained the main risks and rewards of the ownership of the goods; * The customer has accepted
54无锡威孚高科技集团股份有限公司2022年半年度财务报告
the goods; * Other signs that the customer has obtained control of the goods.
2)Revenue measurement principle
* The company measures revenue based on the transaction price allocated to each individual performance obligation.The transaction price is the amount of consideration that the company expects to be entitled to receive due to the
transfer of goods or services to customers and does not include payments collected on behalf of third parties and
payments expected to be returned to customers.* If there is variable consideration in the contract the company shall determine the best estimate of the variable
consideration according to the expected value or the most likely amount but the transaction price including the
variable consideration shall not exceed the amount of cumulatively recognized revenue that is unlikely to be
significantly turned back when the relevant uncertainty is eliminated.* If there is a significant financing component in the contract the company shall determine the transaction price
based on the amount payable that the customer is assumed to pay in cash when obtaining the control of the goods
or services. The difference between the transaction price and the contract consideration shall be amortized by the
effective interest method during the contract period. On the starting date of the contract if the company expects that
the customer pays the price within one year after obtaining control of the goods or services the significant financing
components in the contract shall not be considered.* If the contract contains two or more performance obligations the company will allocate the transaction price to
each individual performance obligation based on the relative proportion of the stand-alone selling price of the goods
promised by each individual performance obligation on the starting date of the contract.
(2) The company's recognition criteria for sales revenue and specific judgment criteria for recognition time:
The company's domestic sales revenue confirmation time point: the company delivers goods as agreed in the order.On the reconciliation date agreed with the buyer the goods received and inspected by the buyer during the period
from the previous reconciliation date to the current reconciliation date are checked with the buyer. After both parties
check the risks and rewards are transferred to the buyer. The company issues an invoice to the buyer according to
the variety quantity and amount confirmed in the reconciliation and confirms the realization of sales revenue on
the reconciliation date.Confirmation time of the company's foreign sales revenue: after the customs review is completed the company
confirms the realization of sales revenue according to the export date specified on the customs declaration.Differences in accounting policies for revenue recognition due to different operating models for the same type of
business
N/A
33.Government grants
(1) Types
Government grants are transfer of monetary assets or non-monetary assets from the government to the Group at no
consideration. Government grants are classified into government grants related to assets and government grants
related to income.As for the assistance object not well-defined in government’s documents the classification criteria for assets-related
or income-related grants are as: whether the grants turn to long-term assets due to purchasing for construction or
other means.
(2) Recognition and measure
55无锡威孚高科技集团股份有限公司2022年半年度财务报告
The government grants shall be recognized while meet the additional conditions of the grants and amount is actually
can be obtained.If a government grant is in the form of a transfer of monetary asset the item shall be measured at the amount
received or receivable. If a government grant is in the form of a transfer of non-monetary asset the item shall be
measured at fair value. If the fair value can not be reliably acquired than measured by nominal amount.
(3) Accounting treatment
A government grant related to an asset shall be recognized as deferred income and reckoned into current
gains/losses according to the depreciation process in use life of such assets.A government grant related to income if they making up relevant expenses and losses for later period than
recognized deferred income and should reckoned into current gain/loss during the period while relevant expenses
are recognized; if they making up relevant expenses and losses that occurred than reckoned into current gains/losses.A government grant related to daily operation activity of the Company should reckoned into other income; those
without related to daily operation activity should reckoned into non-operation income and expenses.The financial discount funds received by the Company shall write down relevant borrowing costs.
34.Deferred income tax assets/Deferred income tax liabilities
(1) Deferred income tax assets or deferred income tax liabilities are realized based on the difference between the
carrying values of assets and liabilities and their taxation bases (as for the ones did not recognized as assets and
liability and with taxation basis recognized in line with tax regulations different between tax base and its book
value) at the tax rates applicable in the periods when the Company recovers such assets or settles such liabilities.
(2) Deferred income tax assets are realized to the extent that it is probable to obtain such taxable income which is
used to set off the deductible temporary difference. As at the balance sheet date if there is obvious evidence showing
that it is probable to obtain sufficient taxable income to set off the deductible temporary difference in future periods
deferred income tax assets not realized in previous accounting periods shall be realized.
(3) On balance sheet date re-review shall be made in respect of the carrying value of deferred income tax assets. If
it is impossible to obtain sufficient taxable income to set off the benefits of deferred income tax assets in future
periods then the carrying value of deferred income tax assets shall be reduced accordingly. If it is probable to obtain
sufficient taxable income then the amount reduced shall be switched back.
(4) Current income tax and deferred income tax considered as income tax expenses or incomes reckoned into current
gains/losses excluding the follow income tax:
* Enterprise combination;
* Transactions or events recognized in owner’s equity directly
35. Lease
(1)Accounting for operating lease
A lease is a contract whereby the lessor transfers the right to use the asset to the lessee for consideration within a
certain period of time. On the commencement date of the contract the Company assesses whether the contract is a
lease or contains a lease. A contract is or contains a lease if a party to a contract transfers its right to control the use
of one or more identified assets for a certain period of time in exchange for consideration. If the contract contains
multiple separate leases at the same time the Company shall split the contract and conduct accounting treatment for
56无锡威孚高科技集团股份有限公司2022年半年度财务报告
each separate lease. If the contract contains both lease and non-lease parts the lessee and the lessor shall split the
lease and non-lease parts.
(1) The Company as the lessee
For the general accounting treatment of the Company as a lessee please refer to Note V. 23 “Right-of-Use Assets”
and Note V. 29 “Lease Liabilities”.For short-term leases with a lease term of not more than 12 months and leases of low-value assets with low value
when a single asset is new the Company chooses not to recognize right-of-use assets and lease liabilities and the
relevant rental expenses are included in the current profit and loss or related asset cost on a straight-line basis during
each period of the lease term.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 change 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 of the separate price for the expanded part of
the lease adjusted according to the contract situation. If the lease change is not accounted for as a separate lease on
the effective date of the lease change the Company shall re-allocate the consideration of the contract after the
change re-determine the lease term and remeasure the lease liability at the present value calculated according to
the changed lease payment and the revised discount rate.
(2) The Company as the lessor
On the lease commencement date the Company classifies the leases that have substantially transferred almost all
the risks and rewards related to the ownership of leased assets as finance leases and other leases are operating leases.
1) Operating lease
The Company recognizes the lease receipts in various periods during the lease term for the rent in an operating
lease.The initial direct costs should be capitalized and apportioned on the same basis as the rental income
recognition in the lease period and included in the current profit and loss by installment. The obtained variable
lease payments related to the operating lease and not included in the lease receipts are included in the current profit
and loss when they actually incur.
2)Financing lease
On the commencement date of the lease term the Company recognizes the finance lease receivables based on the
net investment in the lease (the sum of the unguaranteed residual value and the present value of the lease receipts
not yet received on the commencement date of the lease term and discounted at the interest rate implicit in the lease)
and derecognizes the finance lease assets. During each period of the lease term the Company calculates and
recognizes interest income based on the interest rate implicit in the lease. The variable lease payments obtained by
the Company which are not included in the net lease investment measurement are included in the current profit
and loss when actually incurred.
(3) Sale and leaseback
In accordance with the provisions of the Accounting Standards for Business Enterprises No. 14 - Revenue the
Company evaluates and determines whether the asset transfer in the sale and leaseback transaction is a sale.
1) The Company as the lessee
If the asset transfer in a sale-and-leaseback transaction is a sale the Company shall measure the right-of-use asset
formed by the sale and leaseback based on the part of the original book value of the asset related to the right of use
obtained by leaseback and shall only recognize the gain or loss relevant to the rights transferred to the lessor.
57无锡威孚高科技集团股份有限公司2022年半年度财务报告
If the asset transfer in a sale-and-leaseback transaction is not a sale the Company shall continue to recognize the
transferred asset and at the same time recognize a financial liability equal to the transfer income and account for
the financial liability in accordance with the Accounting Standards for Business Enterprises No. 22 - Recognition
and Measurement of Financial Instruments.
2) The Company as the lessor
If the asset transfer in a sale-and-leaseback transaction is a sale the Company shall account for the purchase of
assets in accordance with other applicable accounting standards for business enterprises and shall account for the
lease of assets in accordance with the Accounting Standards for Business Enterprises No. 21 - Leases.If the asset transfer in a sale-and-leaseback transaction is not a sale the Company shall not recognize the transferred
asset but recognize a financial asset equal to the transfer income and account for the financial asset in accordance
with the Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of Financial
Instruments.
(2) Accounting treatment for financing lease
Not applicable
36.Other major accounting policy and estimation
In the process of applying the Company's accounting policies due to the inherent uncertainty of business activities
the Company needs to judge estimate and assume thebook value of the report items cannot be accurately measured.These judgments estimates and assumptions are made on the basis of the historical experience of the Company’s
management and by considering other relevant factors which shall impact the reported amounts ofincome expenses
assets and liabilities and the disclosure of contingent liabilities on the balance sheet date. However the actual results
caused by the estimated uncertainties may differ from the management's current estimates of the Company so as to
carry out the significant adjustments to the book value of the assets or liabilities to be affected.The Company regularly reviews the aforementioned judgments estimates and assumptions on the basis of
continuing operations the changes in accounting estimates only affect the current period of which the impactsare
recognized in the current period; the changes in accounting estimates not only affect the current period but also the
future periods of which the impacts are recognized in the current and future periods.On the balance sheet date the important areas ofthe financial statements that the Company needs to judge estimate
and assume are as follows:
(1) Provision for bad debts
The Company has used the expected credit loss model to assess the impairment of financial instruments. The
application of the expected credit loss model requires significant judgement and estimates and must consider all
reasonable and evidence-based information including forward-looking information.In making such judgments and
estimates the Company infers the expected changes in debtors’ credit risks based on historical repayment data
combined with economic policies macroeconomic indicators industry risks and other factors.
(2) Inventory falling price reserves
According to the inventory accounting policies the Company measures by the comparison between the cost and the
net realizable value if the cost is higher than the net realizable value and the old and unsalable inventories the
Company calculates and withdraws the inventory impairment. The inventory devalues to the net realizable value by
evaluating the inventory’s vendibility and net realizable value. To identify the inventory impairment the
58无锡威孚高科技集团股份有限公司2022年半年度财务报告
management needs to obtain the unambiguous evidences and consider the purpose to hold the inventory and judge
and estimate the impacts of events after the balance sheet date. The actual results and the differences between the
previously estimated results shall affect the book value of inventory and the provision or return of the inventory
impairment during the period estimated to be changed.
(3) Preparation for the impairment of non-financial & non-current assets
The Company checks whether the non-current assets except for the financial assets may decrease in value at the
balance sheet date. For the intangible assets with indefinite service life in addition to the annual impairment test
the impairment test is also needed when there is a sign of impairment. For the other non-current assets except for
the financial assets the impairment test is needed when it indicates that the book amounts may not be recoverable.When the book value of the asset or group of assets exceeds its recoverable amount i.e. the higher between the net
amount by subtracting the disposal costs from the fair value and the present value of expected future cash flows it
indicates the impairment.As for the net amount by subtracting the disposal costs from the fair value refer to the sales agreement price
similar to the assets in the fair trade or the observable market price and subtract the incremental costs
determination directly attributable to the disposal of the asset.When estimating the present value of the future cash flow the Company needs to make significant judgments to the
output price and related operating expenses of the asset (or asset group) and the discount rate used for calculating
the present value. When estimating the recoverable amount the Company shall adopt all the relevant information
can be obtained including the prediction related to the output price and related operating expenses based on the
reasonable and supportable assumptions.The Company tests whether its business reputation decreases in value every year which requires to estimating the
present value of the asset group allocated with goodwill or the future cash flow combined by the asset group. When
estimating the present value of the future cash flow the Company needs to estimate the future cash flows generated
by the asset group or the combination of asset group and select the proper discount rate to determine the present
value of the future cash flows.
(4) Depreciation and amortization
The Company depreciates and amortizes the investment property fixed assets and intangible assets according to the
straight-line method in the service life after considering the residual value. The Companyregularly reviews the
service life to determine the depreciation and amortization expense amount to be reckoned in each reporting period.The service life is determined by the Company based on the past experience of similar assets and the expected
technological updating. If the previous estimates have significant changes the depreciation and amortization
expense shall be adjusted in future periods.
(5) Fair value of financial instrument
Financial instruments that do not have active markets to provide quotes need to use valuation techniques to
determine fair value.Valuation techniques include the latest transaction information discounted cash flow methods
and option pricing models.The Company has established a set of work processes to ensure that qualified personnel
are responsible for the calculation verification and review of fair value.The valuation model used by the Company
uses the market information as much as possible and uses the Company-specific information as little as possible.It
should be noted that part of the information used in the valuation model requires management’s estimation (such as
discount rate target exchange rate volatility etc.).The Company regularly reviews the above estimates and
59无锡威孚高科技集团股份有限公司2022年半年度财务报告
assumptions and makes adjustments if necessary.
(6) Income tax
In the Company’s normal business activities the final tax treatment and calculation of some transactions have some
uncertainties. Whether some projects can be disbursed from the cost and expenses before taxes requires needs to
get approval from the tax authorities. If the final affirmation of these tax matters differs from the initially estimated
amount the difference shall have an impact on its current and deferred income taxes during the final identification
period.
37.Changes of important accounting policy and estimation
(1)Changes of important accounting policies
□Applicable□Not applicable
(2) Changes of important accounting estimations
□Applicable□Not applicable
38. Other
N/A
VI. Taxation
1. Major taxes and tax rates
Tax Basis Tax rate
The output tax is calculated based on the
25%(IRD Denmark ) 21%(Borit
taxable income and VAT is calculated based
VAT Belgium) 13% 9% 6% Collection
on the difference after deducting the input tax
rate 5%
available for deduction for the current period
City maintaining & construction tax Turnover tax payable 7% 5%
15% 20% 21%(IRD America Borit
Corporation income tax Taxable income America) 22%(IRD Denmark )
25%(including Borit Belgium)
Educational surtax Turnover tax payable 5%
Disclose reasons for different taxpaying body
Taxpaying body Income tax rate
WFCA WFTR WFAS WFLD(Nanchang) WFDT Borit 25%
The Company WFJN WFLD WFTT WFLD(Chongqing) WFAM WFMA WFSC 15%
WFLD (WUHAN) 20%
IRD America Borit America 21%
SPV IRD 22%
2. Tax incentives
The Company WFJN WFLD WFTT WFAM WFMA WFSC is accredited as a high-tech enterprise and enjoy a
preferential income tax rate of 15% in 2022.According to the “Continuation of the Enterprise Income Tax Policies for Western Development ” No.23 (Year of
60无锡威孚高科技集团股份有限公司2022年半年度财务报告
2020) issued together by Ministry of Finance SAT and NDRCfrom January 1 2011 to December 31 2030 the
enterprises located in the west region and mainly engaged in the industrial projects stipulated in the Catalogue of
Encouragement Industries in Western China and whose main business income accounting for more than 60% of
the total income of the enterprise in the current year can pay the corporate income tax at the tax rate of 15%. In first
half of 2022 WFLD (Chongqing) paid its corporate income tax at the tax rate of 15%.In 2022 WFLD (Wuhan) meets the standards of small and low-profit enterprises and the part of the taxable income
not exceeding one million yuan shall be included in the taxable income at a reduced rate of 12.5% and the corporate
income tax shall be paid at the tax rate of 20%; the part of the taxable income exceeding one million yuan but not
more than three million yuan shall be included in the taxable income at a reduced rate of 25% and the corporate
income tax shall be paid at the tax rate of 20%.VII. Notes to major items in consolidated financial statements
1. Monetary fund
Unit: RMB/CNY
Item Ending balance Opening balance
Cash on hand 97884.43 150438.79
Cash in bank 2311600835.40 1864868497.94
Other monetary funds 46256476.74 31044328.96
Total 2357955196.57 1896063265.69
Including: Total amount saving aboard 165582379.20 69969414.25
Total amount with restriction on use for mortgage pledge or freeze 46256476.74 31044328.96
Other explanation
The ending balance of other monetary funds includes bank acceptance bill deposit 41882720.34 yuan Mastercard
deposit188440.00yuan frozen dividends 4185316.40 yuan. The frozen dividend of 4185316.40 yuan represents the part of dividends
distributed by SNAT (stock code:600841) and Miracle Automation (stock code:002009) from 2017 to 2022held by the Company as
trading financial assets. According to the notices numbered Yue 03MC [2016]2490 and Yue 03MC [2016]2492 served by Guangdong
Shenzhen Intermediate People’s Court these dividends were frozen.
2. Trading financial asset
Unit: RMB/CNY
Item Ending balance Opening balance
Financial assets measured at fair value and whose changes are included in current
3783299041.486076436069.42
profit or loss
Including:
SNAT 112472616.00 153643308.00
Miracle Automation 87135000.00 113793600.00
Lifan Technology 69757.95 77802.11
ST Zotye 540488.96
Forex contracts 22219323.17 74734940.30
Investment in other debt instruments and equity instrument 3560861855.40 5734186419.01
Including:
Total 3783299041.48 6076436069.42
61无锡威孚高科技集团股份有限公司2022年半年度财务报告
3. Note receivable
(1) Note receivable
Unit: RMB/CNY
Item Ending balance Opening balance
Bank acceptance bill 884440280.49 968022652.08
Trade acceptance bill 105956992.13 148527534.13
Total 990397272.62 1116550186.21
Unit: RMB/CNY
Ending balance Opening balance
Bad debt Bad debt
Book balance Book balance
provision provision
Category A A
m Provis Book value Provis Book value
m
Amount Ratio o ion Amount Ratio ion
ou
u ratio ratio
nt
nt
Including
:
Note
receivable
with bad
100.001116550186.2100.001116550186.2
debt 990397272.62 990397272.62
%1%1
provision
accrual on
portfolio
Including:
Portfolio 1:
bank
884440280.4989.30%884440280.49968022652.0886.70%968022652.08
acceptance
bill
Portfolio 2:
trade
105956992.1310.70%105956992.13148527534.1313.30%148527534.13
acceptance
bill
100.001116550186.2100.001116550186.2
Total 990397272.62 990397272.62
%1%1
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 receivables to disclose related information about bad-debt provisions:
□Applicable□Not applicable
(2) Bad debt provision accrual collected or switch back
Provision for bad debts in the current period:
□Applicable□Not applicable
(3) Notes receivable already pledged by the Company at the end of the period
Unit: RMB/CNY
Item Amount pledge at period-end
Bank acceptance bill 287986479.97
Trade acceptance bill 47980000.00
Total 335966479.97
62无锡威孚高科技集团股份有限公司2022年半年度财务报告
(4) Notes endorsement or discount and undue on balance sheet date
Unit: RMB/CNY
Item Amount derecognized at period-end Amount not derecognized at period-end
Bank acceptance bill 382416632.87
Trade acceptance bill 16226900.00
Total 398643532.87
(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
Trade acceptance bill 7201691.00
Total 7201691.00
(6) Note receivable actually written-off in the period
Nil
4. Account receivable
(1) Classification of account receivable
Unit: RMB/CNY
Ending balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Provis Book
Provision Book value
Amount Ratio Amount ion value Amount Ratio Amount
ratio
ratio
Account
receivable
with bad
debt 60762293. 100.0 613611 613611
60762293.061.31%2.87%100.00%
provision 06 0% 42.44 42.44
accrual on
a single
basis
Including:
Account
receivable
with bad
456611377198.6920703011.454541020769897.1323186520538002
debt 0.45% 1.12%.52%64759.886857.82%64.0593.77
provision
accrual on
portfolio
Includi
ng:
4626876064100.081465304.4545410213834100.084547720538002
Total 1.76% 3.95%.580%70759.888000.260%06.4993.77
Bad debt provision accrual on single basis: 60762293.06 yuan
Unit: RMB/CNY
Ending balance
Name
Book balance Bad debt provision Provision ratio Accrual causes
Hubei Meiyang Auto Industry Co. Ltd. 20139669.45 20139669.45 100.00% Have difficulty in collection
63无锡威孚高科技集团股份有限公司2022年半年度财务报告
Hunan Leopaard Auto Co. Ltd. 8910778.54 8910778.54 100.00% Have difficulty in collection
BD bills 7201691.00 7201691.00 100.00% Have difficulty in collection
Linyi Zotye Automobile components
6193466.77 6193466.77 100.00% Have difficulty in collection
Manufacturing Co. Ltd.Tongling Ruineng Purchasing Co. Ltd. 4320454.34 4320454.34 100.00% Have difficulty in collection
Brilliance Automotive Group Holdings Co.
3469091.33 3469091.33 100.00% Have difficulty in collection
Ltd.Zhejiang Zotye Auto Manufacturing Co. Ltd. 3117763.27 3117763.27 100.00% Have difficulty in collection
Dongfeng Chaoyang Diesel Co. Ltd. 1951447.02 1951447.02 100.00% Have difficulty in collection
Jiangsu Kawei Auto Industrial Group Co. Ltd. 1932476.26 1932476.26 100.00% Have difficulty in collection
Jiangsu Jintan Automobile Industry Co. Ltd. 1059798.43 1059798.43 100.00% Have difficulty in collection
Tianjin Leiwo Engine Co. Ltd. 1018054.89 1018054.89 100.00% Have difficulty in collection
Other custom 1447601.76 1447601.76 100.00% Have difficulty in collection
Total 60762293.06 60762293.06
Bad debt provision accrual on portfolio: 20703011.64 yuan
Unit: RMB/CNY
Ending balance
Name
Book balance Bad debt provision Provision ratio
Within 6 months 4455951901.25 0.00
6 months to 1 year 76568582.83 7656858.28 10.00%
1-2 years 22502280.54 4500456.10 20.00%
2-3 years 4242182.75 1696873.11 40.00%
Over 3 years 6848824.15 6848824.15 100.00%
Total 4566113771.52 20703011.64
If the provision for bad debts of accounts receivable is made in accordance with the general model of expected credit losses please
refer to the disclosure of other receivables to disclose related information about bad-debt provisions:
□Applicable□Not applicable
By account age
Unit: RMB/CNY
Account age Ending balance
Within 1 year (including 1 year) 4532520484.08
Including: Within 6 months 4455951901.25
6 months to 1 year 76568582.83
1-2 years 24066284.61
2-3 years 11551531.34
Over 3 years 58737764.55
3-4 years 58737764.55
Total 4626876064.58
(2) Bad debt provision accrual collected or switch back
Bad debt provision accrual in the period:
Unit: RMB/CNY
Amount changed in the period
Opening
Category Ending balance
balance Collected or Accrual Written-off Other
reversal
Bad debt
84547706.491028126.003168519.71935642.25-6365.8381465304.70
provision
Total 84547706.49 1028126.00 3168519.71 935642.25 -6365.83 81465304.70
Important bad debt provision collected or switch back: nil
64无锡威孚高科技集团股份有限公司2022年半年度财务报告
(3) Account receivable actual charge off in the Period
Unit: RMB/CNY
Item Amount charge off
Hunan Jiangnan Automobile Manufacturing Co. Ltd. Chongqing Branch 935638.55
Jiangxi Jiangling Motors Group Industrial Co. Ltd. 2.86
Longgong (Shanghai) Forklift Co. Ltd. 0.81
Weimar Agricultural Machinery Co. Ltd. 0.01
Changzhou Wujin Suochuan Electromechanical Co. Ltd. 0.02
Total 935642.25
Major charge-off for the major receivable: Nil
(4) Top 5 receivables at ending balance by arrears party
Unit: RMB/CNY
Ending balance of Ratio in total ending balance of account Ending balance of bad
Name
account receivable receivables debt reserve
Customer 1 396779123.91 8.58% 87832.18
RBCD 385798620.85 8.34% 56890.49
Robert Bosch Company 328749828.77 7.11% 845939.26
Customer 2 208242386.56 4.50% 1889958.00
Customer 3 135513111.82 2.93% 1162713.93
Total 1455083071.91 31.46%
(5) Account receivable derecognition due to financial assets transfer
Nil
(6) Assets and liabilities resulted by account receivable transfer and continues involvement
Nil
5. Account receivable financing
Unit: RMB/CNY
Item Ending balance Opening balance
Note receivable - Bank acceptance bill 875577584.80 713017014.50
Total 875577584.80 713017014.50
Increase and decrease in current period and changes in fair value of receivables financing
□Applicable□Not applicable
If the bad debt provision for account receivable is calculated and withdrawn according to the general model of expected credit loss
please refer to the disclosure method of other account receivables in aspect of impairment provision:
□Applicable□Not applicable
Other explanation:
During the management of enterprise liquidity the company will discount or endorse transfers before the maturity of some bills the
business model for managing bills receivable is to collect contractual cash flows and sell the financial asset so it is classified as
financial assets measured at fair value and whose changes are included in other comprehensive income which is listed in rece ivables
financing.
6. Account paid in advance
(1) Account age of account paid in advance
Unit: RMB/CNY
65无锡威孚高科技集团股份有限公司2022年半年度财务报告
Ending balance Opening balance
Account age
Amount Ratio Amount Ratio
Within 1 year 3124211770.74 99.86% 172019278.72 96.61%
1-2 years 3479238.57 0.11% 3318636.20 1.86%
2-3 years 573262.44 0.02% 1140843.34 0.64%
Over 3 years 244798.83 0.01% 1580491.73 0.89%
Total 3128509070.58 178059249.99
Explanation on reasons of failure to settle on important advance payment with age over one year: NA
(2) Top 5 account paid in advance at ending balance by prepayment object
Total period-end balance of top five account paid in advance by prepayment object amounted to 2794379522.02 Yuan takes 89.32
percent of the total advance payment at period-end.
7. Other account receivables
Unit: RMB/CNY
Item Ending balance Opening balance
Dividend receivable 577318855.11
Other account receivables 26434177.38 17908078.54
Total 603753032.49 17908078.54
(1) Interest receivable
1) Category of interest receivable
Nil
2) Significant overdue interest
Nil
3) Accrual of bad debt provision
□Applicable□Not applicable
(2) Dividend receivable
1) Category of dividend receivable
Unit: RMB/CNY
Item (or invested enterprise) Ending balance Opening balance
RBCD 382918855.11
Zhonglian Automobile Electronics Co. Ltd. 194400000.00
Total 577318855.11
2) Important dividend receivable with account age over one year
Nil
3) Accrual of bad debt provision
□Applicable□Not applicable
(3) Other account receivables
1) Other account receivables classification by nature
Unit: RMB/CNY
Nature Ending book balance Opening book balance
Intercourse funds from units 1878156.54 1991247.85
66无锡威孚高科技集团股份有限公司2022年半年度财务报告
Cash deposit 7938583.18 6212842.61
Staff loans and petty cash 2211482.29 555076.61
Social security and provident fund paid 10858487.31 10547050.70
Other 6954976.36 1952403.17
Total 29841685.68 21258620.94
2) Accrual of bad debt provision
Unit: RMB/CNY
Phase I Phase II Phase III Total
Expected credit losses Expected credit losses
Bad debt provision Expected credit for the entire duration for the entire duration
losses over next
(without credit (with credit
12 months
impairment occurred) impairment occurred)
Balance on Jan. 1 2022 3318719.00 31823.40 3350542.40
Balance of Jan. 1 2022 in the period
Current accrual 58372.50 58372.50
Current reversal 1310.00 96.60 1406.60
Balance on Jun. 30 2022 3375781.50 31726.80 3407508.30
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 1 year (including 1 year) 24074333.88
Including: Within 6 months 23490608.88
6 months to 1 year 583725.00
1-2 years 3022710.00
2-3 years 31806.80
Over 3 years 2712835.00
3-4 years 2712835.00
Total 29841685.68
3) Bad debt provision accrual collected or switch back
Bad debt provision accrual in the period:
Unit: RMB/CNY
Amount changed in the period
Opening
Category Ending balance
balance
Accrual Collected or reversal Written-off Other
Bad debt provision 3350542.40 58372.50 1406.60 3407508.30
Total 3350542.40 58372.50 1406.60 3407508.30
Including the important bad debt provision switch back or collected in the period: nil
4) Other receivables actually written-off during the reporting period
Nil
67无锡威孚高科技集团股份有限公司2022年半年度财务报告
5) Top 5 other receivables at ending balance by arrears party
Unit: RMB/CNY
Ratio in total
Ending
ending
Ending balance of
Enterprise Nature Account age balance of
balance bad debt
other
reserve
receivables
Ningbo Jiangbei High-Tech Industry
Deposit margin 1767000.00 Over 3 years 5.92% 1767000.00
Park Development Construction Co. Ltd.
7-12 months
Wuxi China Resources Gas Co. Ltd. Deposit margin 1364750.00 4.57% 245555.00
1-2 years
Zhenkunxing Industrial Supermarket
Deposit margin 1000000.00 1-2 years 3.35% 200000.00
(Shanghai) Co. Ltd.Within 6
Wuxi Youlian Thermal Power Co. Ltd. Deposit margin 750000.00 2.51%
months
Chongqing Airport Group Co. Ltd. Deposit margin 636710.00 1-2 years 2.13% 127342.00
Total 5518460.00 18.48% 2339897.00
6) Other account receivables related to government grants
Nil
7) Other receivable for termination of confirmation due to the transfer of financial assets
Nil
8) The amount of assets and liabilities that are transferred other receivable and continued to be involved
Nil
8. Inventory
Whether the Company needs to comply with the disclosure requirement of real estate industry
No
(1) Category of inventory
Unit: RMB/CNY
Ending balance Opening balance
Inventory Inventory
depreciation depreciation
Item reserve or reserve or
Provision for Provision for
Book balance Book value Book balance Book value
impairment of impairment of
contract contract
performance performance
costs costs
Materials
in stock 709886475.14 116703542.91 593182932.23 693636748.61 84791307.00 608845441.61
Goods in
process 387987399.81 16123840.68 371863559.13 406224039.14 18593866.28 387630172.86
Cash on 1315360360.4 1202707857.2 2578635721.7 2448920760.6
hand 112652503.24 129714961.12 9 5 4 2
68无锡威孚高科技集团股份有限公司2022年半年度财务报告
2413234235.42167754348.63678496509.43445396375.0
Total 245479886.83 233100134.40
4199
(2) Inventory depreciation reserve or provision for impairment of contract performance costs
Unit: RMB/CNY
Current increased Current decreased
Item Opening balance Switch back or Ending balance
Accrual Other Other
write-off
Materials in
84791307.0053801807.54-152390.7021737180.93116703542.91
stock
Goods in
18593866.289140454.4411610480.0416123840.68
process
Cash on
129714961.1241277522.00-89942.7358250037.15112652503.24
hand
Total 233100134.40 104219783.98 -242333.43 91597698.12 245479886.83
* Net realizable value of the inventory refers to: During the day-to-day activities results of the estimated sale price less costs which
are going to happen by estimation till works completed sales price estimated and relevant taxes.* Accrual basis for inventory depreciation reserve:
Item Accrual basis for inventory impairment Specific basis for recognition
provision
The materials sold due to finished goods Results from the estimated sale price of such inventory less the cost
Materials in stock manufactured its net realizable value is what will happen estimated sales expenses and relevant taxes till the
lower than the book value goods completed
The goods in process sold due to finished Results from the estimated sale price of such inventory less the cost
Goods in process goods manufactured its net realizable what will happen estimated sales expenses and relevant taxes till the
value is lower than the book value goods completed
Accrual basis for inventory impairment
Cash on hand Specific basis for recognition
provision
* Reasons of write-off for inventory falling price reserves:
Item Reasons of write-off
Materials in stock Used for production and the finished goods are realized sales
Goods in process Goods in process completed in the Period and corresponding finished goods are realized sales in the Period
Finished goods Sales in the Period
(3) Explanation on capitalization of borrowing costs at ending balance of inventory
Nil
(4) Assets completed without settlement from construction contract at period-end
Nil
9. Other current assets
Unit: RMB/CNY
Item Ending balance Opening balance
Receivable export tax rebates 8308752.40 6457803.72
VAT refund receivable 2799449.30 3985115.26
Prepaid taxes and VAT retained 35320464.57 204700549.12
Input tax to be deducted and certification 24779.13 6274.43
Other 5772397.33 5171179.97
Total 52225842.73 220320922.50
69无锡威孚高科技集团股份有限公司2022年半年度财务报告
10. Long-term equity investment
Unit: RMB/CNY
Current changes (+ -)
Ad Other Ending
dit Ca comp Cash balance
Opening ion pit Investment rehen dividend of
The invested Other Impair Ending balance
balance (book al al gain/loss sive or profit depreci
entity equity ment Other (book value)
value) inv red recognized inco announce ation
change accrual
est uct under equity me d to reserve
me ion adjust issued s
nt ment
I. Joint venture
II. Associated enterprise
Wuxi Weifu
Environmenta 71742990.2
794489840.10866232830.35
l Catalysts. 5
Co. Ltd.
3340114235.4583991385.7658373158267911.0
RBCD
586710.238
Zhonglian
Automobile 1378575785.7 168241541. 194400 1352417327.7
Electronics 7 93 000.00 0
Co. Ltd.Wuxi Weifu
Precision
Machinery 46014272.27 5377634.71 51391906.98
Manufacturin
g Co. Ltd.Changchun
Xuyang
Weifu
Automobile 10348819.93 -325008.02 10023811.91
components
Technology
Co. Ltd.Precors
5345878.98-47224.13-87222.055211432.80
GmbH
Wuxi Chelian
Tianxia
Information 143055955.62 -4365778.01 138690177.61
Technology
Co. Ltd.
5717944788.1824615542.9602375582235398.4
Subtotal -87222.05
259710.233
5717944788.1824615542.9602375582235398.4
Total -87222.05
259710.233
Other explanation
Explanation on those holding less than 20% of the voting rights but with significant influence:
(1) Precors GmbH:
Wholly-owned subsidiary of the Company - Borit holds 8.11% equity of Precors GmbH Borit appointed a director to Precors GmbH.Though the representative Borit can participate in the operation policies formulation of Precors GmbH and thus exercise a significant
influence over Precors GmbH.
(2) Wuxi Chelian Tianxia Information Technology Co. Ltd. (Hereinafter referred to as "Chelian Tianxia"):
The Company holds 8.8295% equity of Chelian Tianxia and appointed a director to Chelian Tianxia. Though the representative the
Company can participate in the operation policies formulation of Chelian Tianxi and thus exercise a significant influence over Chelian
Tianxi.
11. Other equity instrument investment
Unit: RMB/CNY
Item Ending balance Opening balance
70无锡威孚高科技集团股份有限公司2022年半年度财务报告
Wuxi Xidong Science & Technology Industrial Park 5000000.00 5000000.00
Beijing Zhike Industry Investment Holding Group Co. Ltd. 75940000.00 75940000.00
Rare earth Catalysis Innovation Research Institute (Dongying) Co. Ltd. 4108000.00 4108000.00
Wuxi Xichang Microchip Semi-Conductor 592742690.00 200000000.00
Total 677790690.00 285048000.00
Disclosure of the non-trading equity instrument investment item by item Nil
12. Other non-current financial assets
Unit: RMB/CNY
Item Ending balance Opening balance
Guolian Securities 198981411.00 208795178.00
Investments in other debt instruments and equity instruments held for more than
1605500000.001482000000.00
one year
Total 1804481411.00 1690795178.00
13. Investment real estate
(1) Investment real estate measured by cost
□Applicable □Not applicable
Unit: RMB/CNY
House and Land use Construction
Item Total
Building right in progress
I. original book value
1.Opening balance 65524052.61 65524052.61
2.Current increased
(1) outsourcing
(2) Inventory\fixed assets\construction in process
transfer-in
(3) increased by combination
3.Current decreased
(1) disposal
(2) other transfer-out
4.Ending balance 65524052.61 65524052.61
II. Accumulated depreciation and accumulated amortization
1.Opening balance 46136306.05 46136306.05
2.Current increased 734547.24 734547.24
(1) accrual or amortization 734547.24 734547.24
3.Current decreased
(1) disposal
(2) other transfer-out
4.Ending balance 46870853.29 46870853.29
III. Depreciation reserves
1.Opening balance
2.Current increased
(1) accrual
3. Current decreased
(1) disposal
(2) other transfer-out
4.Ending balance
71无锡威孚高科技集团股份有限公司2022年半年度财务报告
IV. Book value
1.Ending Book value 18653199.32 18653199.32
2.Opening Book value 19387746.56 19387746.56
(2) Investment real estate measured at fair value
□Applicable□Not applicable
(3) Investment real estate without property certification held
Nil
14. Fix assets
Unit: RMB/CNY
Item Ending balance Opening balance
Fix assets 2954329704.27 2932210452.51
Total 2954329704.27 2932210452.51
(1) Fixed assets
Unit: RMB/CNY
Machinery Transportation Electronic and
Item House and Building Total
equipment equipment other equipment
I. original book value:
1.Opening balance 1570238484.44 3540288690.19 32772506.07 714328321.31 5857628002.01
2.Current increased 3968861.62 150134593.58 1775227.26 77453375.33 233332057.79
(1) Purchase 11421478.97 280518.40 11701997.37
(2) Construction in
3968861.62138648414.761775227.2677172856.93221565360.57
progress transfer-in
(3) increased by
combination
(4) Financial lease
64699.8564699.85
transfer in
3.Current decreased 488813.38 55801683.90 541608.87 25693634.93 82525741.08
(1) disposal or
488813.3855801683.90541608.8725693634.9382525741.08
scrapping
4. Conversion of
foreign currency -1570653.76 -78182.36 -1648836.12
financial statement
5.Ending balance 1573718532.68 3633050946.11 34006124.46 766009879.35 6006785482.60
II. Accumulated
depreciation
1.Opening balance 439825229.29 1952082761.65 20404183.79 422378184.50 2834690359.23
2.Current increased 23668718.78 108449548.80 1094042.89 69868820.45 203081130.92
(1) accrual 23668718.78 108384848.95 1094042.89 69868820.45 203016431.07
(2) Financial lease
64699.8564699.85
transfer in
3.Current decreased 108540.49 44673027.09 440849.62 12955989.77 58178406.97
(1) disposal or
108540.4944673027.09440849.6212955989.7758178406.97
scrapping
4. Conversion of
foreign currency -1476090.66 -282881.62 -1758972.28
financial statement
5.Ending balance 463385407.58 2014383192.70 21057377.06 479008133.56 2977834110.90
III. Depreciation
reserves
1.Opening balance 84541933.61 73319.90 6111936.76 90727190.27
2.Current increased
72无锡威孚高科技集团股份有限公司2022年半年度财务报告
(1) accrual
3.Current decreased 15865748.28 239774.56 16105522.84
(1) disposal or
15865748.28239774.5616105522.84
scrapping
4.Ending balance 68676185.33 73319.90 5872162.20 74621667.43
IV. Book value
1.Ending Book value 1110333125.10 1549991568.08 12875427.50 281129583.59 2954329704.27
2.Opening Book
1130413255.151503663994.9312295002.38285838200.052932210452.51
value
(2) Temporarily idle fixed assets
Nil
(3) Fixed assets acquired by operating lease
Nil
(4) Fixed assets without property certification held
Unit: RMB/CNY
Item Book value Reasons for without the property certification
Plant and office building of Weifu Chang’an 33030126.18 Still in process of relevant property procedures
(5) Disposal of fixed assets
Nil
15. Construction in progress
Unit: RMB/CNY
Item Ending balance Opening balance
Construction in progress 500684157.53 387429933.08
Total 500684157.53 387429933.08
(1) Construction in progress
Unit: RMB/CNY
Ending balance Opening balance
Item Depreci Depreci
Book balance ation Book value Book balance ation Book value
reserves reserves
Technical transformation of
122449644.48122449644.4888688772.8588688772.85
parent company
Lot 103 phase V of the
112555657.23112555657.2389599174.4289599174.42
parent company
WFMS rebuilding of the
18686136.0618686136.0612185858.7412185858.74
parent company
Technical transformation of
102610702.98102610702.9872318870.7972318870.79
WFAM
Technical transformation of
10851400.1110851400.1113368288.8113368288.81
WFLD
Technical transformation of
28868788.1728868788.1723293601.3923293601.39
Denmark RID
Other project 104661828.50 104661828.50 87975366.08 87975366.08
Total 500684157.53 500684157.53 387429933.08 387429933.08
73无锡威孚高科技集团股份有限公司2022年半年度财务报告
(2) Changes of major projects under construction
Unit: RMB/CNY
includin
Accumu Interes
Other Proporti g:
Fixed lated t
Curren decre on of interest
assets amount capital
Bud Opening t ased Ending project Progre capitaliz
Item transfer- of ization Source of funds
get balance increas in the balance investm ss ed
in in the interest rate of
ed Perio ent in amount
Period capitaliz the
d budget of the
ation year
year
Technical
14637 Accumulate
transformation 886887 112610 122449
0931. funds of the
of parent 72.85 059.96 644.48
59 company
company
Lot 103 phase
22956 Accumulate
V of the 895991 112555
482.8 funds of the
parent 74.42 657.23
1 company
company
WFMS
Accumulate
rebuilding of 121858 6500 186861
funds of the
the parent 58.74 277.32 36.06
company
company
Technical 58916 Accumulate
72318828624102610
transformation 712.1 funds of the
70.79879.99702.98
of WFAM 8 company
Technical 22804 Accumulate
13368225321108514
transformation 206.3 funds of the
88.81095.0800.11
of WFLD 8 company
Technical
Accumulate
transformation 232936 5575 288687
funds of the
of Denmark 01.39 186.78 88.17
company
RID
26312
299454166556396022
Total 3797.
567.00035.03329.03
06
(3) The provision for impairment of construction projects
Nil
(4) Engineering materials
Nil
16. Right-of-use assets
Unit: RMB/CNY
Item House and Building Machinery equipment Total
I. Original book value:
1.Opening balance 17604684.01 21763912.85 39368596.86
2.Current increased 4586742.66 3286519.32 7873261.98
3.Current decreased 98126.31 98126.31
4. Conversion of foreign currency financial statement 164389.00 -543333.15 -378944.15
5.Ending balance 22355815.67 24408972.71 46764788.38
II. Accumulated depreciation
1.Opening balance 4140756.41 12079434.87 16220191.28
2.Current increased 1991793.85 133186.57 2124980.42
(1) Accrual 1991793.85 133186.57 2124980.42
3.Current decreased 38678.12 38678.12
74无锡威孚高科技集团股份有限公司2022年半年度财务报告
(1) Disposal
(2) Other 38678.12 38678.12
4. Conversion of foreign currency financial statement 35156.28 -334712.08 -299555.80
5.Ending balance 6167706.54 11839231.24 18006937.78
III. Depreciation reserves
1.Opening balance
2.Current increased
(1) Accrual
3.Current decreased
(1) Disposal
4.Ending balance
IV. Book value
1.Ending Book value 16188109.13 12569741.47 28757850.60
2.Opening Book value 13463927.60 9684477.98 23148405.58
17. Intangible assets
(1) Intangible assets
Unit: RMB/CNY
Trademark and
Non-patent Computer
Item Land use right Patent trademark Total
technology software
license
I. original book value
1.Opening balance 381012520.44 181889330.47 123152207.22 41597126.47 727651184.60
2.Current increased 0.00 0.00 0.00 13164056.03 0.00 13164056.03
(1) Purchase 13164056.03 13164056.03
(2) internal R&D
(3) increased by
combination
3.Current decreased 0.00 0.00 0.00 0.00 0.00 0.00
(1) disposal 0.00 0.00
3. Conversion of
foreign currency -4737184.37 -75126.18 -4812310.55
financial statement
5.Ending balance 381012520.44 0.00 177152146.10 136241137.07 41597126.47 736002930.08
II. accumulated
amortization
1.Opening balance 103617738.03 64204353.94 92880072.81 9709000.00 270411164.78
2.Current increased 4182399.21 0.00 7274384.09 10186855.50 0.00 21643638.80
(1) accrual 4182399.21 7274384.09 10186855.50 21643638.80
3.Current decreased
(1) disposal
4. Conversion of
foreign currency -1814061.02 -63232.04 -1877293.06
financial statement
5.Ending balance 107800137.24 0.00 69664677.01 103003696.27 9709000.00 290177510.52
III. Depreciation
reserves
1.Opening balance 16646900.00 16646900.00
2.Current increased
(1) accrual
75无锡威孚高科技集团股份有限公司2022年半年度财务报告
3.Current decreased
(1) disposal
4.Ending balance 16646900.00 16646900.00
IV. Book value
1.Ending Book value 273212383.20 0.00 107487469.09 33237440.80 15241226.47 429178519.56
2.Opening Book value 277394782.41 0.00 117684976.53 30272134.41 15241226.47 440593119.82
(2) Land use right without property certification held
Nil
18. Goodwill
(1) Original book value of goodwill
Unit: RMB/CNY
The invested
entity or
Opening balance Current increased Current decreased Ending balance
matters forming
goodwill
The invested
Formed by Translation of
entity or
Opening balance business foreign currency Disposal Ending balance
matters forming
combination statements
goodwill
Merged with
1784086.791784086.79
WFTT
Merged with
229470928.96-6829069.97222641858.99
Borit
Total 231255015.75 -6829069.97 224425945.78
(2) Goodwill depreciation reserves
Other explanation
1) Goodwill formed by the merger of WFTT:
In 2010 the Company controlling and combine WFTT by increasing the capital the goodwill is the number that combination cost
greater than the fair value of identical net assets of WFTT.
2) Goodwill formed by the merger of Borit:
In 2020 the company acquired 100.00% equity of Borit in the form of cash purchase the goodwill was the part that the cost of the
merger was greater than the fair value share of the identifiable net assets of Borit.
19. Long-term deferred expenses
Unit: RMB/CNY
Amortized in
Item Opening balance Current increased Other decrease Ending balance
the Period
Remodeling costs etc. 15304783.57 802773.19 4160293.14 0.00 11947263.62
Total 15304783.57 802773.19 4160293.14 0.00 11947263.62
20. Deferred income tax assets/Deferred income tax liabilities
(1) Deferred income tax assets that are not offset
Unit: RMB/CNY
Ending balance Opening balance
Item Deductible Deferred income tax Deductible temporary Deferred income tax
temporary difference assets difference assets
Unrealized profit from
42228033.406334205.0165251129.5510531677.19
insider transactions
76无锡威孚高科技集团股份有限公司2022年半年度财务报告
Bad debt provision 84662196.11 13027934.23 87681266.17 13383420.21
Inventory depreciation
237577309.8037278710.01224955223.9437688819.01
reserve
Depreciation reserves of
48551677.367319013.5757218038.148677481.50
fixed assets
Depreciation reserves of
16646900.002497035.0016646900.002497035.00
intangible assets
Deferred income 279305258.43 42180462.93 295502674.12 44620545.44
Payable salary accrued
1184211558.45180370131.321236037621.62188472847.67
expenses etc.Depreciation assets
46993667.627648746.4454047597.498868412.34
amortization difference
Deductible loss of
79414078.5217898035.1653658338.0511465129.69
subsidiary
Equity incentive 115567627.28 17856586.29 80742533.73 12498678.30
Fiscal and tax differences
378997.8472554.36378997.8472554.36
for leasing business
Total 2135537304.81 332483414.32 2172120320.65 338776600.71
(2) Deferred income tax liabilities that are not offset
Unit: RMB/CNY
Ending balance Opening balance
Item Taxable temporary Deferred income Taxable temporary Deferred income
differences tax liabilities differences tax liabilities
The difference between the fair value
and taxation basis of WFTT assets in a 10426145.95 1563921.87 10660027.75 1599004.14
merger not under the same control
The difference between the fair value
and taxation basis of IRD assets in a 62262316.74 13697709.68 68854748.78 15148044.73
merger not under the same control
The difference between the fair value
and taxation basis of Borit assets in a 22049472.63 5512368.16 25246551.70 6311637.91
merger not under the same control
Change of fair value of transaction
243001104.4336494552.16318337329.7447794985.96
financial asset
Accelerated depreciation of fixed assets 312152327.81 48772268.58 294934456.08 48772268.60
Total 649891367.56 106040820.45 718033114.05 119625941.34
(3) Deferred income tax assets and deferred income tax liabilities listed after off-set
Unit: RMB/CNY
Trade-off between Ending balance of Trade-off between the Opening balance of
the deferred deferred income tax deferred income tax deferred income tax
Item
income tax assets assets or liabilities after assets and liabilities at assets or liabilities after
and liabilities off-set period-begin off-set
Deferred income tax assets -85235107.64 247248306.68 -96528406.14 242248194.57
Deferred income tax
-85235107.6420805712.81-96528406.1423097535.20
liabilities
(4) Details of unrecognized deferred income tax assets
Unit: RMB/CNY
Item Ending balance Opening balance
Bad debt reserve 210616.89 216982.72
Inventory depreciation reserve 7902577.03 8144910.46
Loss from subsidiary 307204498.81 279247744.04
Depreciation reserves of fixed assets 26069990.07 33509152.13
Other equity instrument investment 13600000.00 13600000.00
77无锡威孚高科技集团股份有限公司2022年半年度财务报告
Equity incentive 3299059.19 2304871.81
Total 358286741.99 337023661.16
(5) Deductible losses of un-recognized deferred income tax assets expired on the followed year
Unit: RMB/CNY
Maturity year Ending amount Opening amount Note
2022 3781066.93 Subsidiaries have operating losses
2023 485532.04 1171973.53 Subsidiaries have operating losses
2024 18520699.71 18520699.71 Subsidiaries have operating losses
2025 12151503.80 12151503.80 Subsidiaries have operating losses
2026 22596818.84 22596818.84 Subsidiaries have operating losses
2027 8082125.62 Subsidiaries have operating losses
Overseas subsidiaries have
No expiration period 245367818.80 221025681.23
operating losses
Total 307204498.81 279247744.04
21. Other non-current assets
Unit: RMB/CNY
Ending balance Opening balance
Item Provision Provision
Book balance for Book value Book balance for Book value
impairment impairment
Engineering
equipment paid in 417664761.50 417664761.50 267941354.57 267941354.57
advance
Total 417664761.50 0.00 417664761.50 267941354.57 0.00 267941354.57
22. Short-term loans
(1) Category of short-term borrowings
Unit: RMB/CNY
Item Ending balance Opening balance
Guaranteed Loan 72197000.00
Credit loan 4084272713.42 1264241086.57
Bill financing 100000000.00 100000000.00
Accrued interest 3410087.52 1520119.98
Total 4187682800.94 1437958206.55
(2) Overdue short-term loans without payment
Nil
23. Note payable
Unit: RMB/CNY
Category Ending balance Opening balance
Bank acceptance bill 1603408581.52 1760032216.30
Total 1603408581.52 1760032216.30
Notes expired at year-end without paid was 0.00 Yuan.
78无锡威孚高科技集团股份有限公司2022年半年度财务报告
Other instructions: The deposit paid for issuing the above bank acceptance bill was 41882720.34 yuan and the
pledged bills receivable was 478145099.57 yuan.
24. Account payable
(1) Account payable
Unit: RMB/CNY
Item Ending balance Opening balance
Within 1 year 4175265277.10 3066299727.36
1-2 years 35697326.45 64962570.18
2-3 years 15537530.83 52067026.49
Over three years 18494438.39 23324378.56
Total 4244994572.77 3206653702.59
(2) Important account payable with account age over one year
Nil
25. Accounts received in advance
(1) Accounts received in advance
Unit: RMB/CNY
Item Ending balance Opening balance
Within 1 year 6950948.17 2854518.96
Total 6950948.17 2854518.96
(2) Important accounts received in advance with account age over one year
Nil
26. Contractual liability
Unit: RMB/CNY
Item Ending balance Opening balance
Within 1 year 83891206.70 132406102.56
1-2 years 6993861.44 2681086.39
2-3 years 980715.77 132196.85
Over three years 1238881.37 1208250.59
Total 93104665.28 136427636.39
27. Wage payable
(1) Wage payable
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
I. Short-term compensation 207822331.67 563755117.95 629587546.74 141989902.88
II. Post-employment welfare- defined 20279307.31 77575291.02 77050211.90 20804386.43
79无锡威孚高科技集团股份有限公司2022年半年度财务报告
contribution plans
III. Dismissed welfare 1245327.09 65317.00 793904.69 516739.40
IV. Other welfare due within one year 93880000.00 28789384.41 65090615.59
V. Other short-term welfare-Housing
subsidies employee benefits and 16661536.63 50202.00 676827.00 16034911.63
welfare funds
Total 339888502.70 641445927.97 736897874.74 244436555.93
(2) Short-term compensation
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
1. Wages bonuses allowances
197176934.90427946015.89494611467.55130511483.24
and subsidies
2. Welfare for workers and staff 72058.92 53435111.58 53196916.36 310254.14
3. Social insurance 192691.73 35139421.94 35127823.25 204290.42
Including: Medical insurance 172605.50 28881038.83 28872696.66 180947.67
Work injury insurance 16653.30 3352037.11 3350742.65 17947.76
Maternity insurance 3432.93 2906346.00 2904383.94 5394.99
4. Housing accumulation fund 656874.00 39725051.00 39655442.00 726483.00
5. Labor union expenditure and
9611229.936924420.006405696.5610129953.37
personnel education expense
6.Other short-term salary-social
112542.19585097.54590201.02107438.71
security
Total 207822331.67 563755117.95 629587546.74 141989902.88
(3) Defined contribution plans
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
1. Basic endowment insurance 416445.06 60492393.14 60534131.19 374707.01
2. Unemployment insurance 25533.44 2004087.85 2015564.79 14056.50
3. Enterprise annuity 19837328.81 15078810.03 14500515.92 20415622.92
Total 20279307.31 77575291.02 77050211.90 20804386.43
28. Taxes payable
Unit: RMB/CNY
Item Ending balance Opening balance
Value-added tax 41776505.38 24533584.80
Corporation income tax 57082502.91 2317331.81
Individual income tax 510802.49 3528037.22
City maintaining & construction tax 2937740.31 1750188.23
Educational surtax 2099999.44 1250134.44
Other (including stamp tax and local
6423508.346726372.38
funds)
Total 110831058.87 40105648.88
80无锡威孚高科技集团股份有限公司2022年半年度财务报告
29. Other account payable
Unit: RMB/CNY
Item Ending balance Opening balance
Interest payable 5621.94 6184.14
Dividend payable 165975264.00 25671100.00
Other accounts payable 302282740.42 334228033.32
Total 468263626.36 359905317.46
(1) Interest payable
Unit: RMB/CNY
Item Ending balance Opening balance
Other 5621.94 6184.14
Total 5621.94 6184.14
Major overdue interest: nil
(2) Dividend payable
Unit: RMB/CNY
Item Ending balance Opening balance
Common stock dividend 165975264.00 25671100.00
Total 165975264.00 25671100.00
Other explanation including important dividends payable that have not been paid for more than 1 year and the reasons for non-
payment should be disclosed: Nil
(3) Other account payable
1) Classification of other accounts payable according to nature of account
Unit: RMB/CNY
Item Ending balance Opening balance
Deposit and margin 27357681.81 24601774.89
Social insurance and reserves funds that withholding 1504143.84 1695074.09
Intercourse funds of unit 30982145.98 33562145.98
Restricted Share repurchases obligations 238302620.00 269101020.00
Other 4136148.79 5268018.36
Total 302282740.42 334228033.32
2) Significant other payable with over one year age
Unit: RMB/CNY
Item Ending balance Reasons for non-repayment or carry-over
Nanjing Jidian Industrial Group Co. Ltd. 4500000.00 Intercourse funds
Restricted share repurchase obligation 238302620.00 Restricted stock repurchase business
Total 242802620.00
81无锡威孚高科技集团股份有限公司2022年半年度财务报告
30. Non-current liabilities due within one year
Unit: RMB/CNY
Item Ending balance Opening balance
Long-term borrowings due within one
27101755.7027744527.80
year
Lease payments due within one year 4571288.34 6318273.66
Interest payable 23516.67 25972.22
Total 31696560.71 34088773.68
31. Other current liabilities
Unit: RMB/CNY
Item Ending balance Opening balance
Rebate payable 160130711.03 198936922.68
Pending sales tax 9022910.40 14032348.87
Total 169153621.43 212969271.55
32. Long-term loans
(1) Category of Long-term loans
Unit: RMB/CNY
Item Ending balance Opening balance
Guaranteed loan 200000000.00
Total 200000000.00
33. Lease liability
Unit: RMB/CNY
Item Ending balance Opening balance
Lease Payments 21504518.33 15795469.25
Total 21504518.33 15795469.25
34. Long-term account payable
Unit: RMB/CNY
Item Ending balance Opening balance
Long-term account payable 13750000.00 13750000.00
Special accounts payable 18265082.11 18265082.11
Total 32015082.11 32015082.11
(1) Long-term account payable listed by nature
Unit: RMB/CNY
Item Ending balance Opening balance
Hi-tech Branch of Nanjing Finance Bureau (note * ) Financial support funds (2007) 1230000.00 1230000.00
Hi-tech Branch of Nanjing Finance Bureau (note * ) Financial support funds (2008) 2750000.00 2750000.00
Hi-tech Branch of Nanjing Finance Bureau (note * ) Financial support funds (2009) 1030000.00 1030000.00
Hi-tech Branch of Nanjing Finance Bureau (note * ) Financial support funds (2010) 960000.00 960000.00
Hi-tech Branch of Nanjing Finance Bureau (note * ) Financial support funds (2011) 5040000.00 5040000.00
Hi-tech Branch of Nanjing Finance Bureau (note * ) Financial support funds (2013) 2740000.00 2740000.00
Total 13750000.00 13750000.00
Other explanation:
82无锡威孚高科技集团股份有限公司2022年半年度财务报告
Note * : To encourage WFJN to enter Nanjing High-tech Technology Industry Development Zone financial supporting capital is
allotted by High-tech branch of Finance Bureau of Nanjing for supporting use the term is from 17 September 2007 to 17 September
2022. Provided that the operation period in the zone is less than 15 years financial supporting capital will be reimbursed.
Note * : To encourage WFJN to enter Nanjing High-tech Technology Industry Development Zone financial supporting capital is
allotted by High-tech branch of Finance Bureau of Nanjing for supporting use the term is from 10 November 2008 to 10 November
2023. Provided that the operation period in the zone is less than 15 years financial supporting capital will be reimbursed.
Note * : To encourage WFJN to enter Nanjing High-tech Technology Industry Development Zone financial supporting capital is
allotted by High-tech branch of Finance Bureau of Nanjing for supporting use the term is from 27 October 2009 to 27 October 2024.Provided that the operation period in the zone is less than 15 years financial supporting capital will be reimbursed.Note * : To encourage WFJN to enter Nanjing High-tech Technology Industry Development Zone financial supporting capital is
allotted by High-tech branch of Finance Bureau of Nanjing for supporting use the term is from 27 December 2010 to 27 December
2025. Provided that the operation period in the zone is less than 15 years financial supporting capital will be reimbursed.
Note * : To encourage WFJN to enter Nanjing High-tech Technology Industry Development Zone financial supporting capital is
allotted by High-tech branch of Finance Bureau of Nanjing for supporting use the term is from 28 December 2011 to 28 December
2026. Provided that the operation period in the zone is less than 15 years financial supporting capital will be reimbursed.
Note * : To encourage WFJN to enter Nanjing High-tech Technology Industry Development Zone financial supporting capital is
allotted by High-tech branch of Finance Bureau of Nanjing for supporting use the term is from 18 December 2013 to 18 December
2028. Provided that the operation period in the zone is less than 15 years financial supporting capital will be reimbursed.
(2) Special accounts payable
Unit: RMB/CNY
Opening Current Current Ending Cause of
Item
balance increased decreased balance formation
Removal compensation of subsidiary WFJN 18265082.11 18265082.11
Total 18265082.11 18265082.11
Other explanation:
In line with regulation of the house acquisition decision of People’s government of Xuanwu District Nanjing City Ning Xuan Fu
Zheng Zi (2012) No.001 part of the lands and property of WFJN needs expropriation in order to carry out the comprehensively
improvement of Ming Great Wall. According to the house expropriation and compensation agreement in state-owned lands signed
between WFJN and House Expropriation Management Office of Xuanwu District Nanjing City 19.7067 million yuan in total are
compensate including operation losses from lessee 1.4416 million yuan in total. The above compensation was received in last period
and is making up for the losses from lessee and the above lands and property have not been collected up to 30 June 2022.
35. Long-term wages payable
(1) Long-term wages payable
Unit: RMB/CNY
Item Ending balance Opening balance
1. Termination benefits 4829589.69 4829589.69
2. Other long-term benefits 103482333.50 103482333.50
Total 108311923.19 108311923.19
(2) Changes in defined benefit plans
Nil
83无锡威孚高科技集团股份有限公司2022年半年度财务报告
36. Deferred income
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance Cause of formation
Government grants 298052867.56 685099.46 18721634.94 280016332.08
Total 298052867.56 685099.46 18721634.94 280016332.08
Item with government grants involved:
Unit: RMB/CNY
Amount Cost
New Amount
reckoned reduct Assets
Opening grants reckoned into Other
Item in non- ion in Ending balance related/Inco
balance in the other income changes
operation the me related
Period in the period
revenue period
Industrialization
project for injection
VE pump system with Assets
electronically 721000.26 721000.26 0.00 related/Inco
controlled high me related
pressure for less-
emission diesel used
Appropriation on
reforming of
production line
technology and R&D Assets
6318348.62390825.705927522.92
ability of common rail related
system for diesel by
distributive high-
voltage
Fund of industry Income
60520000.0060520000.00
upgrade (2013) related
R&D and
industrialization of
the high-pressure
Assets
variable pump of the 3817474.67 555205.50 3262269.17
related
common rail system
of diesel engine for
automobile
Research institute of
motor vehicle exhaust Assets
648660.17262398.42386261.75
aftertreatment related
technology
Fund of industry Income
36831000.0036831000.00
upgrade (2014) related
New-built assets
compensation after Assets
83134428.949245732.7673888696.18
the removal of parent related
company
Fund of industry Income
40000000.0040000000.00
upgrade (2016) related
Guiding capital for
the technical reform
Assets
from State Hi-Tech 5057667.33 635276.68 4422390.65
related
Technical
Commission
84无锡威孚高科技集团股份有限公司2022年半年度财务报告
Implementation of the
variable cross-section Assets
5882788.71777352.105105436.61
turbocharger for related
diesel engine
Demonstration project
Assets
for intelligent 652381.50 97052.14 555329.36
related
manufacturing
The 2nd batch of
provincial special
funds for industry Assets
3446350.12580448.742865901.38
transformation of related
industrial and
information in 2019
Municipal
technological reform Assets
4143406.07302165.363841240.71
fund allocation in related
2020
Strategic cooperation
agreement funding for
Assets
key enterprise of 4450869.59 319883.18 4130986.41
related
smart manufacturing
in high-tech zone
The 3rd batch of
provincial special
funds for industry Assets
13500000.0013500000.00
transformation of related
industrial and
information in 2021
Assets
7322
Other 28928491.58 4834294.10 -47163.42 24779296.94 related/Inco
62.88
me related
298052867.57322
Total 0.00 18721634.94 0.00 -47163.42 280016332.08
662.88
Other explanation:
(1) Appropriation on industrialization project of electrical control and high voltage jet VE system of low emissions diesel: in September
2009 WFJN signed “Project Contract of Technology Outcome Transferring Special Capital in Jiangsu Province” with Nanjing
Technical Bureau according to which WFJN received appropriation 6.35 million Yuan in 2009 4.775 million Yuan received in 2010
and 0.875 million Yuan received in 2011. According to the contract the attendance date of this project was: from October 2009 to
March 2012. This contract agreed 62% of newly increased investment in project would be spent in fixed assets investment which are
belongs to the government grand with assets/income concerned. In 2013 accepted by the science & technology agency of Jiangsu
Province and 4789997.04 Yuan with income related was reckoned into current operation revenue directly; the 7210002.96 Yuan
with assets related was amortized during the predicted service period of the assets and 721000.26 Yuan amortized in the Period.
(2) The appropriation for research and development ability of distributive high-pressure common rail system for diesel engine use and
production line technological transformation project: according to XCJ No. [2010] 59 the Company has received special funds of 7.1
million yuan appropriated by Finance Bureau of Wuxi New District in 2011 and used for the Company’s research and development
ability of distributive high-pressure common rail system for diesel engine use and production line technological transformation project;
this appropriation belongs to government grants related to assets amount of 390825.70 yuan was reversed based on the depreciation
schedule of the related assets during the period.
(3) Industry upgrading funds (2013): In accordance with the document Xi Xin Guan Jing Fa [2013] No.379 Xi Xin Guan Jing Fa
[2013] No.455 Xi Xin Guan Cai Fa [2013] No.128 and Xi Xin Guan Cai Fa [2013] No.153 the Company received funds of 60.52
million yuan appropriated for industry upgrading in 2013.
(4) R&D and industrialization of the high pressure variable pump of the common rail system of diesel engine for automobile: the
Company received appropriated for the project in 2013 with 8.05 million yuan in line with documents of Xi Ke Ji [2013] No.186 Xi
Ke Ji [2013] No.208 Xi Cai Gong Mao [2013] No.104 Xi Cai Gong Mao [2013] No.138 Xi Ke Ji [2014] No.125 Xi Cai Gong Mao
[2014] No.58 Xi Ke Ji [2014] No. 246 and Xi Cai Gong Mao [2014] No.162. Received 3 million yuan in 2014 and 0.45 million yuan
85无锡威孚高科技集团股份有限公司2022年半年度财务报告
in 2015; and belongs to government grant with assets concerned and shall be amortized according to the depreciation process amount
of 555205.50 yuan amortizes in the year.
(5) Vehicle exhaust after-treatment technology research institute project: in 2012 the subsidiary WFLD has applied for equipment
purchase assisting funds to Wuxi Huishan Science and Technology Bureau and Wuxi Science and Technology Bureau for the vehicle
exhaust after-treatment technology research institute project. This declaration has been approved by Wuxi Huishan Science and
Technology Bureau and Wuxi Science and Technology Bureau in 2012 and the company has received appropriation of 2.4 million
yuan in 2012 and received appropriation of 1.6 million yuan in 2013. This appropriation belongs to government grants related to assets
and will be amortized according to the depreciation process amount of 262398.42 yuan amortizes in the year.
(6) Industry upgrading funds (2014): In accordance with the document Xi Xin Guan Jing Fa [2014] No.427 and Xi Xin Guan Cai Fa
[2014] No.143 the Company received funds of 36.831 million yuan appropriated for industry upgrading in 2014.
(7) New-built assets compensation after the removal of parent company: policy relocation compensation received by the Company
and will be amortized according to the depreciation of new-built assets amount of 9245732.76 yuan amortizes in the year.
(8) Fund of industry upgrade (2016): In accordance with the document Xi Xin Guan Jing Fa [2016] No.585 and Xi Xin Fa [2016]
No.70 the Company received funds of 40 million yuan appropriated for industry upgrading in 2016.
(9) Guiding capital for the technical reform from State Hi-Tech Technical Commission: In accordance with the document Xi Jing Xin
ZH [2016] No.9 and Xi Cai GM [2016] No.56 the Company received a 9.74 million yuan for the guiding capital of technical reform
(1st batch) from Wuxi for year of 2016 and belongs to government grant with assets concerned and shall be amortized according to
the depreciation process amount of 635276.68 yuan amortize in the year.
(10) Implementation of the variable cross-section turbocharger for diesel engine: In accordance with the document YCZ Fa[2016]
NO.623 and “Strong Industrial Base Project Contract for year of 2016” subsidiary WFTT received a specific subsidy of 16.97 million
yuan (760000 yuan received in the period) the fund supporting strong industrial base project (made-in-China 2025) of central industrial
transformation and upgrading 2016 from Ministry of Industry and Information Technology; and belongs to government grant with
assets concerned and shall be amortized according to the depreciation process amount of 777352.10 yuan amortize in the year.
(11) Demonstration project for intelligent manufacturing: under the Notice Relating to Selection of the Intelligent Manufacturing Model
Project in Huishan District in 2016 (HJXF[2016]No.36) a fiscal subsidy of 3000000 yuan was granted by relevant government
authority in Huishan district to our subsidiary WFLD in 2017 to be utilized for transformation and upgrade of WFLD’s intellige nt
manufacturing facilities. This subsidy belongs to government grant related to assets which shall be amortized based on the depreciation
progress of the assets. Amortization for the year amounts to 97052.14 yuan.
(12) The 2nd batch of provincial special funds for industry transformation of industrial and information in 2019: according to XCGM
[2019] No. 121 the Company received a special fund of 5 million yuan in 2020 this subsidy was related to the "Weifu High-Technology
New Factory Internet Construction" projects and belonged to government grants related to assets. and shall be amortized according to
the depreciation process amount of 580448.74 yuan amortize in the year.
(13) Municipal technological reform fund allocation in 2020: according to XGXZH [2020] No. 16 the Company received 4.77 million
yuan of municipal technological transformation fund project allocation in 2020 which was related to key technological transformation
projects and belonged to government grants related to assets. and shall be amortized according to the depreciation process amount of
302165.36 yuan amortize in the year.
(14) Strategic cooperation agreement funding for key enterprise of smart manufacturing in high-tech zone: according to XXGXF [2020]
No. 61 the Company received a related grant of 4.06 million yuan in 2020 0.7 million yuan received in the Period this grant was
related to the intelligent transformation project and belonged to the government grants related to assets. and shall be amortized
according to the depreciation process amount of 319883.18 yuan amortize in the year.
(15) The 3rd batch of provincial special funds for industry transformation of industrial and information in 2021: according to the SCGM
[2021] No.92 the government grant 13.5 million yuan received in 2021 was for the research development and industrialization of
membrane electrodes for high-performance automotive proton exchange membrane fuel cells which was an assets related government
grants.
37. Share capital
Unit: RMB/CNY
86无锡威孚高科技集团股份有限公司2022年半年度财务报告
Change during the period (+ -)
Opening balance Shares transferred New shares Bonus Ending balance
from capital Other Subtotal
issued share
reserve
Total shares 1008659570.00 1008659570.00
38. Capital reserve
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
Capital premium (Share
3238990188.723238990188.72
capital premium)
Other Capital reserve 132353984.10 34733141.01 167087125.11
Total 3371344172.82 34733141.01 3406077313.83
Other explanation including changes in the period and reasons for changes;
Other capital reserves have 34733141.01 yuan increased in the current period which is the net amount after deducting the
35819280.93 yuan amount attributable to shareholders from share-based payment fee 1086139.92 yuan settled by equity.
39. Treasury stock
Unit: RMB/CNY
Current
Item Opening balance Current increased Ending balance
decreased
Share repurchases 1148777.74 100001057.07 101149834.81
Repurchase obligation of
269101020.0030798400.00238302620.00
restricted stock incentive plan
Total 270249797.74 100001057.07 30798400.00 339452454.81
Other explanations including changes in the current period and explanations of the reasons for the changes:
Share repurchase: shares increased due to the repurchase of 4982800.00 shares by way of centralized bidding in 2022
Repurchase obligation of restricted stock incentive plan：The decrease of 30798400.00 yuan in the current period is the cash
dividend received by the restricted stock incentive object in the current period.
40. Other comprehensive income
Unit: RMB/CNY
Current period
Less:
Less:
written
written
in other
in other
compreh
compreh
ensive
ensive
income
income
in
in Belong to
Account previous Less:
Opening previous Belong to minority Ending
Item before period income
balance period parent company sharehold balance
income tax in and tax
and after tax ers after
the year carried expense
carried tax
forward
forward
to
to gains
retained
and
earnings
losses in
in
current
current
period
period
87无锡威孚高科技集团股份有限公司2022年半年度财务报告
I. Other
comprehensive
income that
16008.8016008.80
cannot be
reclassified to
profit or loss
Other
comprehensive
income that
cannot be
16008.8016008.80
transferred to
profit or loss
under the equity
method
II. Other
comprehensive
income items -
---
which will be 12679652.
36762353.4012679652.1649442005.56
reclassified 16
subsequently to
profit or loss
Conversion
difference of -
---
foreign currency 12679652.
36762353.4012679652.1649442005.56
financial 16
statement
Total other -
---
comprehensive 12679652.
36746344.6012679652.1649425996.76
income 16
Other explanation including the adjustment on initial recognition for arbitrage items that transfer from the effective part of cash flow
hedge profit/loss: nil
41. Reasonable reserve
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
Safety production costs 712215.31 13239465.25 12236215.31 1715465.25
Total 712215.31 13239465.25 12236215.31 1715465.25
Other explanation including changes and reasons for changes:
(1) Instructions for the withdrawing of special reserves (safe production cost): According to the CQ [2012] No. 16 - Administrative
Measures on the Withdrawing and Use of Enterprise Safety Production Expenses jointly issued by the Ministry of Finance and the
State Administration of Work Safety in the current period the Company adopted excess retreat method for quarterly withdrawal by
taking the actual operating income of the previous period as the withdrawing basis.
(2) Among the above safety production costs including the safety production costs accrual by the Company in line with regula tions
and the parts enjoy by shareholders of the Company in safety production costs accrual by subsidiary in line with regulations.
42. Surplus reserve
Unit: RMB/CNY
Item Opening balance Current increased Current decreased Ending balance
Statutory surplus reserves 510100496.00 510100496.00
Total 510100496.00 510100496.00
43. Retained profit
Unit: RMB/CNY
Item Current period Last period
88无锡威孚高科技集团股份有限公司2022年半年度财务报告
Retained profits at the end of last year before adjustment 14814787377.86 13756102424.62
Retained profits at the beginning of the year after adjustment 14814787377.86 13756102424.62
Add: The net profits belong to owners of patent company of this period 1232762710.95 2575371419.80
Less: cash dividends payable 1609059668.80 1513341439.50
Less: Withdraw employee rewards and welfare funds 4081359.92
Add: Net effect of disposal other equity instrument investment 736332.86
Retained profit at period-end 14438490420.01 14814787377.86
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
44. Operating income and cost
Unit: RMB/CNY
Current period Last Period
Item
Income Cost Income Cost
Main operating 7112804273.14 5858547460.17 8767778890.21 7264238382.73
Other business 209031087.84 166024282.54 269912866.03 233678774.34
Total 7321835360.98 6024571742.71 9037691756.24 7497917157.07
Information on the top five items of revenue recognized during the reporting period:
Unit: RMB/CNY
Serial Name Income amount
1 RBCD 1633269280.49
2 Customer 1 777256393.13
3 Robert Bosch Company 724668201.55
4 Customer 2 678105449.94
5 Customer 3 269171662.59
45. Operating tax and extras
Unit: RMB/CNY
Item Current period Last Period
City maintaining & construction tax 8634987.02 14341221.75
Educational surtax 6170777.25 10225750.57
Property tax 8897091.90 8796684.97
Land use tax 2253305.65 2254956.27
Vehicle use tax 3985.52 4723.44
Stamp duty 2394141.59 2318539.73
Other taxes 523132.85 267617.59
Total 28877421.78 38209494.32
46. Sales expenses
Unit: RMB/CNY
89无锡威孚高科技集团股份有限公司2022年半年度财务报告
Item Current period Last Period
Salary and fringe benefit 24952862.28 26304864.83
Consumption of office materials and
3302587.074474074.11
business travel charge
Warehouse charge 1044900.83 3451305.60
Three guarantees and quality cost 30734960.85 41751346.64
Business entertainment fee 9087067.46 12819753.95
Other 9898213.94 22392270.43
Total 79020592.43 111193615.56
47. Administration expenses
Unit: RMB/CNY
Item Current period Last Period
Salary and fringe benefit 151774582.74 150875422.64
Depreciation charger and long-term
37588034.1035267896.09
assets amortization
Consumption of office materials and
6085675.947618286.05
business travel charge
Share-based payment 22799516.92 24256881.94
Other 58964445.09 48207891.60
Total 277212254.79 266226378.32
48. R&D expenses
Unit: RMB/CNY
Item Current period Last Period
Technological development expenses 289631376.50 249583255.99
Total 289631376.50 249583255.99
49. Financial expenses
Unit: RMB/CNY
Item Current period Last Period
Interest expenses 34275262.65 14244003.27
Note discount interest expenses 3052594.14 13128344.93
Less: interest income 13927929.36 16673615.70
Gains/losses from exchange 4316196.05 928280.82
Handling charges 2057941.09 4308059.74
Total 29774064.57 15935073.06
50. Other income
Unit: RMB/CNY
Sources of income generated Current period Last Period
Government grants with routine
26095621.9323433211.68
operation activity concerned
Total 26095621.93 23433211.68
90无锡威孚高科技集团股份有限公司2022年半年度财务报告
51. Investment income
Unit: RMB/CNY
Item Current period Last Period
Income of long-term equity investment
823400731.10962736510.68
calculated based on equity
Investment income from holding financial
964645.903468760.80
assets available for sales
Investment income of financial products 105107324.41 140176231.37
Other -680357.44 -609970.51
Total 928792343.97 1105771532.34
52. Income from change of fair value
Unit: RMB/CNY
Sources Current period Last Period
Changes in the fair value of wealth management products 3290951.54 5597561.64
Changes in the fair value of the stocks of listed companies held-excluding the stocks
-77723879.68-91729334.10
of listed companies that are included in other equity instrument investments
Total -74432928.14 -86131772.46
53. Credit impairment loss
Unit: RMB/CNY
Item Current period Last Period
Bad debt loss 2083427.81 6750336.12
Total 2083427.81 6750336.12
54. Assets impairment loss
Unit: RMB/CNY
Item Current period Last Period
Loss of inventory falling price and loss of
-104219783.98-103997387.44
contract performance cost impairment
Total -104219783.98 -103997387.44
55. Income from assets disposal
Unit: RMB/CNY
Sources Current period Last Period
Income from disposal of non-current
3597231.293076178.86
assets
Losses from disposal of non-current
-1706951.34-149592.04
assets
Total 1890279.95 2926586.82
91无锡威孚高科技集团股份有限公司2022年半年度财务报告
56. Non-operating income
Unit: RMB/CNY
Amount reckoned into current
Item Current period Last Period
non-recurring gains/losses
Other 218285.29 488184.66 218285.29
Total 218285.29 488184.66 218285.29
Government subsidies included in the current profit and loss: nil
57. Non-operating expense
Unit: RMB/CNY
Amount reckoned into current
Item Current period Last Period
non-recurring gains/losses
Donation 160000.00
Total non-current asset
2175378.87625271.192175378.87
retirement losses
Including: loss of fixed assets
2175378.87625271.192175378.87
scrap
Other 21187.00 66356.11 21187.00
Total 2196565.87 851627.30 2196565.87
58. Income tax expense
(1) Income tax expense
Unit: RMB/CNY
Item Current period Last Period
Payable tax in current period 106918042.74 248833342.25
Adjusted the previous income tax 281934.62 1167902.15
Increase/decrease of deferred income tax
6279057.80-131973066.28
assets
Increase/decrease of deferred income tax
-12925247.95-55516.90
liability
Total 100553787.21 117972661.22
(2) Adjustment on accounting profit and income tax expenses
Unit: RMB/CNY
Item Current period
Total profit 1370978589.16
Income tax measured by statutory/applicable tax rate 205646788.37
Impact by different tax rate applied by subsidies 13053639.86
Adjusted the previous income tax 281934.62
Impact by non-taxable revenue -112982994.62
92无锡威孚高科技集团股份有限公司2022年半年度财务报告
Impact on cost expenses and losses that unable to deducted -9390248.84
Impact by the deductible losses of the un-recognized previous deferred
-6429812.52
income tax
The deductible temporary differences or deductible losses of the un-
5235274.07
recognized deferred income tax assets in the Period
Other 5139206.27
Income tax expense 100553787.21
59. Other comprehensive income
See Note VII. 40 “Other comprehensive income”
60. Items of ash flow statement
(1) Other cash received in relation to operation activities
Unit: RMB/CNY
Item Current period Last Period
Interest income 13927929.36 16673615.70
Government grants 8106249.87 6670613.29
Other 404502.49 493488.03
Total 22438681.72 23837717.02
(2) Other cash paid in relation to operation activities
Unit: RMB/CNY
Item Current period Last Period
Cash cost 254434197.77 250964650.29
Other 18468018.35 9252217.76
Total 272902216.12 260216868.05
(3) Cash received from other investment activities
Unit: RMB/CNY
Item Current period Last Period
Borit acquisition money returned 1108314.69
Total 1108314.69
(4) Cash paid related with investment activities
Nil
(5) Other cash received in relation to financing activities
Nil
(6) Cash paid related with financing activities
Unit: RMB/CNY
Item Current period Last Period
Loans of Wuxi Industry Group are paid 5470000.00
93无锡威孚高科技集团股份有限公司2022年半年度财务报告
by WFLD
National debt paid transfer to loans 345194.00
Lease payments 865486.76 1104682.01
Share repurchase 100001057.07
Total 100866543.83 6919876.01
61. Supplementary information to statement of cash flow
(1) Supplementary information to statement of cash flow
Unit: RMB/CNY
Supplementary information Current period Last Period
1. Net profit adjusted to cash flow of operation activities:
Net profit 1270424801.95 1689043185.12
Add: Assets impairment provision 102136356.17 97247051.32
Depreciation of fixed assets consumption of oil assets and depreciation
203750978.31188585414.05
of productive biology assets
Depreciation of right-of-use assets 2124980.42 3246652.07
Amortization of intangible assets 21643638.80 22053152.82
Amortization of long-term deferred expenses 4160293.14 10464905.27
Loss from disposal of fixed assets intangible assets and other long-
-1890279.95-2926586.82
term assets (gain is listed with “-”)
Losses on scrapping of fixed assets (gain is listed with “-”) 2175378.87 625271.19
Gain/loss of fair value changes (gain is listed with “-”) 74432928.14 86131772.46
Financial expenses (gain is listed with “-”) 36972909.58 14026658.93
Investment loss (gain is listed with “-”) -929472701.41 -1105771532.34
Decrease of deferred income tax asset ((increase is listed with “-”) 6279057.80 -134106651.78
Increase of deferred income tax liability (decrease is listed with “-”) -12925247.95 -2907134.81
Decrease of inventory (increase is listed with “-”) 1265262274.11 622604921.62
Decrease of operating receivable accounts (increase is listed with “-”) -5235236937.97 -44866280.95
Increase of operating payable accounts (decrease is listed with “-”) 659261306.91 -1402007014.29
Other 36918218.19 38747825.31
Net cash flows arising from operating activities -2493982044.89 80191609.17
2. Material investment and financing not involved in cash flow
Conversion of debt into capital
Switching Company bonds due within one year
financing lease of fixed assets
3. Net change of cash and cash equivalents:
Balance of cash at period end 1490785302.80 1476008228.28
Less: Balance of cash equivalent at period-begin 1094018936.73 944946018.70
Add: Balance at period-end of cash equivalents
Less: Balance at period-begin of cash equivalents
Net increase of cash and cash equivalents 396766366.07 531062209.58
(2) Net cash payment for the acquisition of a subsidiary in the period
Nil
94无锡威孚高科技集团股份有限公司2022年半年度财务报告
(3) Net cash received from the disposal of subsidiaries
Nil
(4) Constitution of cash and cash equivalent
Unit: RMB/CNY
Item Ending balance Opening balance
I. Cash 1490785302.80 1094018936.73
Including: Cash on hand 97884.43 150438.79
Bank deposit available for payment at any time 1490687418.37 1093868497.94
III. Balance of cash and cash equivalents at the period-
1490785302.801094018936.73
end
Other explanation:
The difference between bank deposits available for payment at any time and the bank deposits in Note VII. 1 "Monetary Funds" is
the company's fixed deposits in the bank.
62. Note of the changes of owners’ equity
Explain the items and amount at period-end adjusted for “Other” at end of the last year: nil
63. Assets with ownership or use right restricted
Unit: RMB/CNY
Book value at
Item Restriction reason
period-end
Monetary fund 41882720.34 Cash deposit paid for bank acceptance
Note receivable 335966479.97 Notes pledge for bank acceptance
Monetary fund 188440.00 Cash deposit for Mastercard
Monetary fund 4185316.40 Court freeze
Account
receivable 142178619.60 Notes pledge for bank acceptance
financing
In accordance with the civil ruling No.(2016)Y03MC2490 and No.(2016)
Y03MC2492 of Guangdong Shenzhen Intermediate People's Court the property with
the value of 217 million yuan under the name of the Company and other seven
Trading financial
188795623.32 respondents and the third party Shenzhen Hejun Chuangye Holdings Co. Ltd.
asset
(Hereinafter referred to as Hejun Company) was frozen. As of the end of the reporting
period 4.71 million shares of Miracle Automation and 11739102 shares of SDEC
held by the Company were frozen.Total 713197199.63
64. Item of foreign currency
(1) Item of foreign currency
Unit: RMB/CNY
Closing balance of foreign Ending RMB balance
Item Rate of conversion
currency converted
Monetary fund
Including: USD 6306874.16 6.7114 42327959.18
95无锡威孚高科技集团股份有限公司2022年半年度财务报告
EUR 20343256.77 7.0084 142573634.99
HKD 16555587.57 0.8552 14158338.49
JPY 361309032.00 0.049136 17753280.60
DKK 5875093.79 0.9422 5535513.37
Account receivable
Including: USD 5703570.03 6.7114 38278939.90
EUR 1123220.09 7.0084 7871975.68
JPY 7091196.00 0.049136 348433.01
DKK 19264105.05 0.9422 18150639.78
Long-term loans
Including: USD
EUR
HKD
Other account receivables
Including: DKK 3183888.87 0.9422 2999860.09
Short-term loans
Including: USD 1106598.36 6.7114 7426824.23
EUR 27373707.15 7.0084 191845889.19
Account payable
Including: USD 770313.72 6.7114 5169883.50
EUR 2403640.58 7.0084 16845674.64
JPY 24899918.00 0.049136 1223482.37
CHF 209442.70 7.0299 1472361.24
DKK 12537073.02 0.9422 11812430.20
GBP 2450.00 8.1365 19934.43
Other account payable
Including: USD 1087.90 6.7114 7301.33
DKK 140969.52 0.9422 132821.48
Non-current liabilities due
within one year
Including: EUR 460417.53 7.0084 3226790.22
DKK 1114977.70 0.9422 1050531.99
(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
Subsidiary of the Company IRD was established in Denmark in 1996. The 66% equity of IRD were required by the Company in cash
in April 2019 and in October 2020 increasing the shareholding to 34.00% by cash purchase. After the increase in holdings the
company acquired 100.00% of the company's equity. Book-keeping currency of IRD was Danish krone and IRD mainly engaged in
the R&D production and sales of fuel cell components.Subsidiary Borit was established in Belgium in 2010. the Company acquired 100% equity of Borit by cash acquisition in November
2020. Borit is denominated in Euro and engaged in the R&D production and sales of fuel cell components.
96无锡威孚高科技集团股份有限公司2022年半年度财务报告
65. Government grants
(1) Government grants
Unit: RMB/CNY
Amount reckoned in
Category Amount Item
current gain/loss
Construction of the R&D center for fuel cells in Denmark 800000.00 Other income 800000.00
Job stabilization subsidy 2310744.62 Other income 2310744.62
2021 the 28th batch of grants for Enterprise Technology Center
1000000.00 Other income 1000000.00
of Zhejiang Province
Subsidy funds for manufacturing individual champions
500000.00 Other income 500000.00
specializing in new small giants
2020 the financial support funds for introduce investment
583329.00 Other income 583329.00
enterprise Tong Cai (2016) No. 187
Construction of innovation pilot benchmark 90000.00 Other income 90000.00
Funding of talent training 330000.00 Other income 330000.00
Service charge for three agencies 993890.43 Other income 993890.43
Other 1498285.82 Other income 1498285.82
Total 8106249.87
(2) Government grants rebate
□Applicable□Not applicable
66. Other
Nil
VIII. Changes of consolidation scope
1. Enterprise combined under the different control
(1) Enterprise combines not under the same control occurred in the period
Nil
(2) Combination cost and goodwill
Nil
(3) Identifiable assets and liability on purchasing date under the purchaser
Nil
(4) Gains or losses arising from re-measured by fair value for the equity held before purchasing date
Whether it is a business combination realized by two or more transactions of exchange and a transaction of
obtained control rights in the Period or not
□Yes □No
97无锡威孚高科技集团股份有限公司2022年半年度财务报告
(5) Notes relating to the purchase date or the end of the period in which the merger consideration or the fair
value of the purchasee’s identifiable assets and liabilities cannot be reasonable determined
Nil
(6) Other explanation
Nil
2. Enterprise combines under the same control
(1) Business combinations under the same control that occurred in the current period
Nil
(2) Consolidation cost
Nil
(3) Book value of assets and liabilities of the merged party on the merger date
Nil
3. Reverse purchase
Basic information of the transaction the basis on which the transaction constitutes a reverse purchase whether the
assets and liabilities retained by the listed company constitute a business and the basis thereof the determination of
the merger cost the amount of the adjusted equity according to the equity transactions and its calculation: NA
4. Disposal of subsidiaries
Whether there is a single disposal of an investment in a subsidiary that resulted in a loss of control
□Yes □No
Whether there is a step-by-step disposal of investment in a subsidiary through multiple transactions and loss of
control during the period
□Yes □No
5. Other reasons for consolidation range changed
Explanation on changes in the scope of consolidation due to other reasons (e.g. new establishment of a subsidiary subsidiary
liquidation etc.) and related information:
On June 30 2022 a Japanese company co-invested in the Wuxi Weifu Qinglong Power Technology Co. Ltd with IRD FUEL CELLS
A/S BORIT NV ROBERT BOSCH INTERNATIONALE BETEILIGUNGEN AG and Wuxi High-Tech Zone New Dynamic
Industrial Development Fund (Limited Partnership) the Company holds 45% equity directly and 30% equity indirectly.
6. Other
Nil
98无锡威孚高科技集团股份有限公司2022年半年度财务报告
IX. Equity in other entity
1. Equity in subsidiary
(1) Constitute of enterprise group
Main Share-holding ratio
Registered
Subsidiary operation Business nature Acquired way
place Directly Indirectly
place
Spare parts of internal- Enterprise combines under
WFJN Nanjing Nanjing 80.00%
combustion engine the same control
Automobile exhaust Enterprise combines under
WFLD Wuxi Wuxi 94.81%
purifier muffler the same control
Spare parts of internal-
WFMA Wuxi Wuxi 100.00% Investment
combustion engine
Spare parts of internal-
WFCA Wuxi Wuxi 100.00% Investment
combustion engine
Enterprise combines under
WFTR Wuxi Wuxi Trading 100.00%
the same control
Spare parts of internal-
WFSC Wuxi Wuxi 66.00% Investment
combustion engine
Spare parts of internal- Enterprise combined under
WFTT Ningbo Ningbo 98.83% 1.17%
combustion engine the different control
Spare parts of internal- Enterprise combined under
WFAM Wuxi Wuxi 51.00%
combustion engine the different control
WFLD Automobile exhaust
Wuhan Wuhan 60.00% Investment
(WUHAN) purifier muffler
WFLD Chongqin Automobile exhaust
Chongqing 100.00% Investment
(Chongqing) g purifier muffler
WFLD Automobile exhaust
Nanchang Nanchang 100.00% Investment
(Nanchang) purifier muffler
WFAS Wuxi Wuxi Smart car device 66.00% Investment
Enterprise combined under
WFDT Wuxi Wuxi Wheel motor 80.00%
the different control
WFFC Wuxi Wuxi Fuel cell components 45.00% 30.00% Investment
SPV Denmark Denmark Investment 100.00% Investment
Enterprise combined under
IRD Denmark Denmark Fuel cell components 100.00%
the different control
Enterprise combined under
IRD America America America Fuel cell components 100.00%
the different control
Enterprise combined under
Borit Belgium Belgium Fuel cell components 100.00%
the different control
Enterprise combined under
Borit America America America Fuel cell components 100.00%
the different control
Explanation on share-holding ratio in subsidiary different from ratio of voting right: nil
(2) Important non-wholly-owned subsidiary
Unit: RMB/CNY
Dividend announced to
Share-holding ratio Gains/losses attributable to Ending equity of
Subsidiary distribute for minority in
of minority minority in the Period minority the Period
WFJN 20.00% 13647361.87 220264640.74
WFSC 34.00% 3558197.18 24614948.50
WFLD 5.19% 4689571.65 139655362.58
WFAM 49.00% 15808199.77 205837114.54
Total 37703330.47 590372066.36
Explanation on holding ratio different from the voting right ratio for minority shareholders: nil
99无锡威孚高科技集团股份有限公司2022年半年度财务报告
(3) Main finance of the important non-wholly-owned subsidiary
Unit: RMB/CNY
Ending balance
Subsidiary Non -current Current Non-current
Current assets Total assets Total liabilities
assets liabilities liabilities
1472348435.9
WFJN 1158547830.40 313800605.52 332967393.67 36844671.80 369812065.47
2
WFSC 194100650.20 49340187.51 243440837.71 170649693.14 170649693.14
1419720518.76271286452.43631534169.63851176983.2
WFLD 4851565933.64 219642813.61
9334
WFAM 411355529.72 524911152.62 936266682.34 452201892.87 64732998.05 516934890.92
2307772464.48923342408.44587353149.34908573632.7
Total 6615569943.96 321220483.46
4017
Unit: RMB/CNY
Opening balance
Subsidi
Non -current Non-current
ary Current assets Total assets Current liabilities Total liabilities
assets liabilities
WFJN 1163244507.43 312639160.97 1475883668.40 403140636.22 39065672.06 442206308.28
WFSC 216066879.24 46302741.60 262369620.84 200467446.49 200467446.49
WFLD 4503223903.30 1354614615.10 5857838518.40 3558321743.41 21480042.25 3579801785.66
WFAM 413380063.83 483832825.41 897212889.24 450194211.90 59932162.99 510126374.89
Total 6295915353.80 2197389343.08 8493304696.88 4612124038.02 120477877.30 4732601915.32
Unit: RMB/CNY
Current period
Subsidiary Total comprehensive Cash flow from operation
Operation Income Net profit
income activity
WFJN 447804363.41 65145897.60 65145897.60 -51110746.71
WFSC 226170484.98 10460851.26 10460851.26 -33350047.74
WFLD 3287233284.58 138297551.67 138297551.67 397683438.88
WFAM 330358273.12 32245277.07 32245277.07 92627392.88
Total 4291566406.09 246149577.60 246149577.60 405850037.31
Unit: RMB/CNY
Last Period
Subsidiary Total comprehensive Cash flow from operation
Operation Income Net profit
income activity
WFJN 541395186.39 88001445.49 88001445.49 -11789938.06
WFSC 206427800.85 10430300.86 10430300.86 45758253.85
WFLD 4394119908.54 139109362.55 139109362.55 -670433668.67
WFAM 308180892.75 34874756.04 34874756.04 25574054.82
Total 5450123788.53 272415864.94 272415864.94 -610891298.06
(4) Significant restrictions on the use of enterprise group assets and pay off debts of the enterprise group
Nil
(5) Financial or other supporting offers to the structured entity included in consolidated financial statement
range
Nil
100无锡威孚高科技集团股份有限公司2022年半年度财务报告
2. Transaction that has owners’ equity shares changed in subsidiary but still with controlling rights
(1) Owners’ equity shares changed in subsidiary
Nil
(2) Impact on minority’s interest and owners’ equity attributable to parent company
Nil
3. Equity in joint venture and associated enterprise
(1) Important joint venture and associated enterprise
Share-holding ratio Accounting
Main treatment on
Regist
operat investment for
Joint venture or associated enterprise ered Business nature
ion Directly Indirectly joint venture and place
place associated
enterprise
Wuxi Weifu Environmental Catalysts. Co.Wuxi Wuxi Catalyst 49.00% Equity method
Ltd.Internal-combustion
RBCD Wuxi Wuxi 32.50% 1.50% Equity method
engine accessories
Zhonglian Automobile Electronics Co. Shang Shang Internal-combustion
20.00% Equity method
Ltd. hai hai engine accessories
Wuxi Weifu Precision Machinery Internal-combustion
Wuxi Wuxi 20.00% Equity method
Manufacturing Co. Ltd. engine accessories
Changchun Xuyang Weifu Automobile Chang Chang Automobile
34.00% Equity method
Components Technology Co. Ltd. chun chun components
Germa Germa Fuel cell
PrecorsGmbH 8.11% Equity method
ny ny components
Wuxi ChelianTianxia Information
Wuxi Wuxi Telematics services 8.83% Equity method
Technology Co. Ltd.Holding shares ratio different from the voting right ratio: nil
Has major influence with less 20% voting rights hold or has minor influence with over 20% (20% included) voting rights hold:
(1)Precors GmbH:
Wholly-owned subsidiary of the Company - Borit holds 8.11% equity of Precors Borit appointed a director to Precors. Though the
representative Borit can participate in the operation policies formulation of Precors and thus exercise a significant influence over
Precors.
(2)ChelianTianxia:
The Company holds 8.8295% equity of Chelian Tianxia and appointed a director to Chelian Tianxia. Though the representative the
Company can participate in the operation policies formulation of Chelian Tianxi and thus exercise a significant influence over Chelian
Tianxi.
(2) Main financial information of the important joint venture
Nil
(3) Main financial information of the important associated enterprise
Unit: RMB/CNY
Ending balance/Current period Opening balance/Last Period
Zhonglian Zhonglian
WFEC RBCD WFEC RBCD
Electronics Electronics
3102810812.315083675405.61201826767.84359756878.814697384325.8
Current assets 71871241.06
05087
Non -current 6530286742.4 6819520183.8
337992109.462903051707.73344385727.943080929311.51
assets 7 9
3440802921.717986727113.37732113510.24704142606.817778313637.36891391424.9
Total assets
687285
Current 1176624832.7 2858118635.5
9397043991.47974515296.058623318592.842970685.68
liabilities 6 1
101无锡威孚高科技集团股份有限公司2022年半年度财务报告
Non-current
496355986.252547905.48224616134.382578140.19
liabilities
1672980819.03082734769.8
Total liabilities 9397043991.47 977063201.53 8623318592.84 5548825.87
19
Minority
shareholders’
equity
Attributable to
parent company 1767822102.7 6755050308.7 1621407836.9 6885842599.0
8589683121.919154995044.54
shareholders’ 5 4 3 8
equity
Share of net
assets calculated 1351010061.7 1377168519.8
866232830.352920492261.44794489840.103112698315.15
by shareholding 5 2
ratio
Adjustment
items
--Goodwill 267788761.35 1407265.96 267788761.35 1407265.96
--Unrealized
profit of internal -30013111.43 -40372840.77
trading
--other -0.28 -0.01 -0.28 -0.01
Book value of
equity
1352417327.71378575785.7
investment in 866232830.35 3158267911.08 794489840.10 3340114235.45
07
associated
enterprise e
Fair value of the
equity
investment of
associated
enterprise with
public offers
concerned
Operation 2448287999.5 4268529267.9 10208920776.8
8322989203.329460906.8211255332.80
income 4 7 1
Net profit 142874508.54 1687151931.01 841207709.66 184342978.45 1988551544.06 891476084.86
Net profit of the
termination of
operation
Other
comprehensive
income
Total
comprehensive 142874508.54 1687151931.01 841207709.66 184342978.45 1988551544.06 891476084.86
income
Dividends
received from
382918855.1249000000.00279062772.15
joint venture in
the year
(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 205317329.30 204764926.80
Amount based on share-holding ratio
102无锡威孚高科技集团股份有限公司2022年半年度财务报告
--Net profit 639624.55 19892865.88
--Total comprehensive income 639624.55 19892865.88
(5) Major limitation on capital transfer ability to the Company from joint venture or associated enterprise
Nil
(6) Excess loss occurred in joint venture or associated enterprise
Nil
(7) Unconfirmed commitment with joint venture investment concerned
Nil
(8) Intangible liability with joint venture or associated enterprise investment concerned
Nil
4. Major conduct joint operation
Nil
5. Structured body excluding in consolidate financial statement
Ni
6. Other
Nil
X. Risk related with financial instrument
Main financial instrument of the Company including monetary funds structured deposits account receivable equity
instrument investment financial products loans and account payable etc. more details of the financial instrument
can be found in relevant items of Note VII. Risks concerned with the above-mentioned financial instrument and
the risk management policy takes for lower the risks are as follow:
Aims of engaging in the risk management is to achieve equilibrium between the risk and benefit lower the adverse
impact on performance of the Company to minimum standards and maximized the benefit for shareholders and
other investors. Base on the risk management targets the basic tactics of the risk management is to recognized and
analyzed the vary risks that the Company counted established an appropriate risk exposure baseline and caring risk
management supervise the vary risks timely and reliably in order to control the risk in a limited range.In business process the risks with financial instrument concerned happen in front of the Company mainly including
credit exposure market risk and liquidity risk. BOD of the Company takes full charge of the risk management target
and policy-making and takes ultimate responsibility for the target of risk management and policy. Compliance
department and financial control department manager and monitor those risk exposures to ensuring the risks are
control in a limited range.
1. Credit Risk
Credit risk refers to the risk that one party of a financial instrument fails to perform its obligations and resulting in
103无锡威孚高科技集团股份有限公司2022年半年度财务报告
the financial loss of other party. The company's credit risk mainly comes from monetary funds structured deposits
note receivable account receivable and other account receivables etc. The management has established an
appropriate credit policy and continuously monitors the exposure to these credit risks.The monetary funds and structured deposits held by the Company are mainly deposited in financial institutions such
as commercial banks the management believes that these commercial banks have higher credit and asset status and
have lower credit risks. The Company adopts quota policies to avoid credit risks to any financial institutions.For accounts receivable other receivables and bills receivable the Company sets relevant policies to control the
credit risk exposure. To prevent the risks the company has formulated a new customer credit evaluation system and
an existing customer credit sales balance analysis system. The new customer credit evaluation system aims at new
customers the company will investigate a customer’s background according to the established process to determine
whether to give the customer a credit line and the credit line size and credit period. Accordingly the company has
set a credit limit and a credit period for each customer which is the maximum amount that does not require additional
approval. The analysis system for credit sales balance of existing customers means that after receiving a purchase
order from an existing customer the company will check the order amount and the balance of the accounts owed
by the customer so far if the total of the two exceeds the credit limit of the customer the company can only sell to
the customer on the premise of additional approval otherwise the customer must be required to pay the
corresponding amount in advance. In addition for the credit sales that have occurred the company analyzes and
audits the monthly statements for risk warning of accounts receivable to ensure that the company’s overall credit
risk is within a controllable range.The maximum credit risk exposure of the Company is the carrying amount of each financial asset on the balance
sheet.
2. Market risk
Market risk of the financial instrument refers to the fair value of financial instrument or future cash flow due to
fluctuations in the market price changes and produce mainly includes the IRR FX risk and other price risk.
(1) Interest rate risk (IRR)
IRR refers to the fluctuate risks on Company’s financial status and cash flow arising from rates changes in market.IRR of the Company mainly related with the bank loans. In order to lower the fluctuate of IRR the Company in
line with the anticipative change orientation choose floating rate or fixed rate that is the rate in future period will
goes up prospectively than choose fixed rate; if the rate in future period will decline prospectively than choose the
floating rate. In order to minor the bad impact from difference between the expectation and real condition loans for
liquid funds of the Company are choose the short-term period and agreed the terms of prepayment in particular.
(2) Foreign exchange (FX) risk
FX risks refer to the losses arising from exchange rate movement. The FX risk sustain by the Company mainly
related with the USD EUR CHF JPY HKD and DKK except for the USD EUR CHF JPY HKD and DKK
carried out for the machinery equipment purchasing of parent company and WFAM material purchasing of parent
company technical service and trademark usage costs of parent company the import and export of WFTR
operation of IRD and operation of Borit other main business of the Company are pricing and settle with RMB
(CNY). In consequence of the foreign financial assets and liabilities takes minor ratio in total assets the Company
has small FX risk of the financial instrument considered by management of the Company.As of June 30 2022 except for the follow assets or liabilities listed with foreign currency assets and liabilities of
104无锡威孚高科技集团股份有限公司2022年半年度财务报告
the Company are carried with CNY/RMB
* Foreign currency assets of the Company as of June 30 2022
Item Ending foreign currency Convert rate Ending CNY balance Share of assets(%)
balance converted
Monetary fund
Including: USD 6306874.16 6.7114 42327959.18 0.13
EUR 20343256.77 7.0084 142573634.99 0.45
HKD 16555587.57 0.8552 14158338.49 0.05
JPY 361309032.00 0.049136 17753280.60 0.06
DKK 5875093.79 0.9422 5535513.37 0.02
Account receivable
Including: USD 5703570.03 6.7114 38278939.90 0.12
EUR 1123220.09 7.0084 7871975.68 0.03
JPY 7091196.00 0.049136 348433.01 0.00
DKK 19264105.05 0.9422 18150639.78 0.06
Other account receivable
Including: DKK 3183888.87 0.9422 2999860.09 0.01
Total share of assets 0.93
* Foreign currency liability of the Company as of 30 June 2022:
Ending foreign currency Ending CNY balance
Item Convert rate Share of liabilities(%)
balance converted
Short-term loans
Including: USD 1106598.36 6.7114 7426824.23 0.06
EUR 27373707.15 7.0084 191845889.19 1.62
Account payable
Including: USD 770313.72 6.7114 5169883.50 0.04
EUR 2403640.58 7.0084 16845674.64 0.14
JPY 24899918.00 0.049136 1223482.37 0.01
CHF 209442.70 7.0299 1472361.24 0.01
DKK 12537073.02 0.9422 11812430.20 0.10
GBP 2450.00 8.1365 19934.43 0.00
Other account payable
Including: USD 1087.90 6.7114 7301.33 0.00
DKK 140969.52 0.9422 132821.48 0.00
Non-current liabilities due
within one year
Including: EUR 460417.53 7.0084 3226790.22 0.03
DKK 1114977.70 0.9422 1050531.99 0.01
Total ratio in liabilities 2.02
* Other pricing risk
The equity instrument investment held by the Company with classification as trading financial asset and other non-
current financial assets are measured on fair value of the balance sheet date. The fluctuation of expected price for
these investments will affect the gains/losses of fair value changes for the Company.Furthermore on the premise of deliberated and approved in 5th session of 9th BOD the Company exercise entrust
financing with the self-owned idle capital; therefore the Company has the risks of collecting no principal due toentrust financial products default. Aims at such risk the Company formulated a “Management Mechanism ofCapital Financing” and well-defined the authority approval investment decision-making calculation management
and risk controls for the entrust financing in order to guarantee a security funds and prevent investment risk
105无锡威孚高科技集团股份有限公司2022年半年度财务报告
efficiently. In order to lower the adverse impact from unpredictable factors the Company choose short-term and
medium period for investment and investment product’s term is up to 3 years in principle; in variety of investment
the Company did not invest for the stocks derivative products security investment fund and the entrust financial
products aims at security investment as well as other investment with securities concerned.
3. Liquidity risk
Liquidity risk refers to the capital shortage risk occurred during the clearing obligation implemented by the
enterprise in way of cash paid or other financial assets. The Company aims at guarantee the Company has rich
capital to pay the due debts therefore a financial control department is established for collectively controlling such
risks. On the one hand the financial control department monitoring the cash balance the marketable securities
which can be converted into cash at any time and the rolling forecast on cash flow in future 12 months ensuring the
Company on condition of reasonable prediction owes rich capital to paid the debts; on the other hand building a
favorable relationship with the banks rationally design the line of credit credit products and credit terms guarantee
a sufficient limit for bank credits in order to satisfy vary short-term financing requirements.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 asset 200217862.91 22219323.17 3560861855.40 3783299041.48
1.Financial assets measured at fair value and whose
200217862.9122219323.173560861855.403783299041.48
changes are included in current profit or loss
(1) Investment in debt instruments 3560861855.40 3560861855.40
(2) Investment in equity instruments 200217862.91 200217862.91
(3)Forex contracts 22219323.17 22219323.17
(ii)Other equity instrument investment 677790690.00 677790690.00
(iii)Account receivable financing 875577584.80 875577584.80
(iv)Other non-current assets-equity instrument
198981411.00198981411.00
investment
(v)Other non-current assets-Other debt instrument
1605500000.001605500000.00
and equity instrument investment
Total assets sustaining measured by fair value 200217862.91 221200734.17 6719730130.20 7141148727.28
II. Non-persistent measure -- -- -- --
2. Recognized basis for the market price sustaining and non-persistent measured by fair value on first-order
On 30 June 2022 the trading financial asset-equity instrument investment held by the Company refers to the
SNAT (stock code: 600841) Miracle Automation (Stock code: 002009) Lifan Technology (Stock code: 601777)
and ST Zotye (Stock code: 000980) determining basis of the market price at period-end refers to the closing price
of 30 June 2022.
3. The qualitative and quantitative information for the valuation technique and critical parameter that
sustaining and non-persistent measured by fair value on second-order
On 30 June 2022 other non-current financial assets-equity instrument investment held by the Company refers to
the Guolian Securities (stock code: 601456) determining basis of the market price at period-end refers to the
106无锡威孚高科技集团股份有限公司2022年半年度财务报告
closing price and liquidity discounts of 30 June 2022.The trading financial assets that are continuously measured at the second level of fair value are swap contracts and
forward foreign exchange settlement and sale contracts. The fair value measurement is based on the fair value of
the swap contracts and forward foreign exchange settlement and sale contracts provided by the bank that signed the
contract.
4. The qualitative and quantitative information for the valuation technique and critical parameter that
sustaining and non-persistent measured by fair value on third-order
(1) Account receivable financing
For this part of financial assets the Company uses discounted cash flow valuation techniques to determine its fair
value. Among them important unobservable input values mainly include discount rate and contractual cash flow
maturity period. The cash flow with a contract expiration period of 12 months (inclusive) shall not be discounted
and the cost shall be regarded as its fair value.
(2) Fair value of other equity instrument investment-Changes in fair value included in other comprehensive income
Due to the lack of market liquidity for this part of financial assets the Company uses the replacement cost method
to determine its fair value. Among them the important unobservable input values mainly include the financial data
of the invested company etc.
(3) Fair value of other debt instrument and equity instrument investment
The fair value of wealth management products is determined by the Company using discounted cash flow valuation
techniques. Among them the important unobservable input values are mainly the expected annualized rate of return
and the risk factor of wealth management products.
5. Continuous third-level fair value measurement items adjustment information between the opening and
closing book value and sensitivity analysis of unobservable parameters
Nil
6. Continuous fair value measurement items if there is a conversion between various levels in the current
period the reasons for the conversion and the policy for determining the timing of the conversion
Nil
7. Changes in valuation technology during the current period and reasons for the changes
Nil
8. The fair value of financial assets and financial liabilities not measured by fair value
Nil
9. Other
Nil
XII. Related party and related party transactions
1. Parent company of the enterprise
Share-holding ratio Voting right
Registration
Parent company Business nature Registered capital on the enterprise for ratio on the
place
parent company enterprise
Operation of
Wuxi Industry Group Wuxi RMB 5289262000.00 20.23% 20.23%
state-owned assets
107无锡威孚高科技集团股份有限公司2022年半年度财务报告
Explanation on parent company of the enterprise
Wuxi Industry Group is an enterprise controlled by the State-owned Assets Management Committee of Wuxi Municipal People’s
Government. Its business scope includes foreign investment by using its own assets house leasing services self-operating and acting
as an agent for the import and export business of various commodities and technologies (Except for goods and technologies that are
restricted by the state or prohibited for import and export) domestic trade (excluding national restricted and prohibited items). (Projects
that are subject to approval in accordance with the law can be operated only after being approved by relevant departments).Ultimate controller of the Company is State-owned Assets Supervision & Administration Commission of Wuxi Municipality of Jiangsu
Province.Other explanation
Nil
2. Subsidiary of the enterpriseFound more in Note IX. 1.” Equity in subsidiary”
3. Joint venture and associated enterprise
Found more in Note IX.3. “Equity in joint venture and associated enterprise”
Other associated enterprise or joint ventures which has related transaction with the Company in the period or occurred previous: Nil
4. Other Related party
Other Related party Relationship with the Enterprise
Robert Bosch Company Second largest shareholder of the Company
Guokai Metal The enterprise controlled by parent company
Hebei Machinery The actual controller is the related natural person of the company
Key executive Director supervisor and senior executive of the Company
5. Related transaction
(1) Goods purchasing labor service providing and receiving
Goods purchasing/labor service receiving
Unit: RMB/CNY
Whether more than
Content of related Approved
Related party Current period the transaction limit Last Period
transaction transaction limit
(Y/N)
WFPM Goods and labor 16947881.11 40000000.00 N 18852456.91
RBCD Goods and labor 174508017.89 450000000.00 N 218444783.58
WFEC Goods 246646895.23 700000000.00 N 905770785.87
Robert Bosch
Goods and labor 93906096.78 300000000.00 N 115666003.14
Company
Changchun
Goods 342520.00 1500000.00 N
Xuyang
Goods sold/labor service providing
Unit: RMB/CNY
Related party Content of related transaction Current period Last Period
WFPM Goods and labor 522692.40 19742012.48
RBCD Goods and labor 1633269280.49 2250967590.73
WFEC Goods and labor 158613.70 3581524.21
Robert Bosch Company Goods and labor 724668201.55 649193996.57
108无锡威孚高科技集团股份有限公司2022年半年度财务报告
Changchun Xuyang Goods 181484.70
Hebei Machinery Goods 77607431.74
Description of related transactions in the purchase and sale of goods provision and acceptance of labor services:
Nil
(2) Related trusteeship management/contract & entrust management/ outsourcing
Nil
(3) Related lease
As a lessor for the Company:
Unit: RMB/CNY
Lessee Assets type Lease income recognized in the Period Lease income recognized at last Period
WFEC Workshop 1190379.04
As a lessee for the Company:nil
(4) Related guarantee
Nil
(5) Related party’s borrowed/lending funds
Unit: RMB/CNY
Related party Amount of loan Starting date Expiry date Note
Borrowing
Wuxi Industry Group 5470000.00 2021-07-29 2022-07-21
Lending
(6) Related party’s assets transfer and debt reorganization
Nil
(7) Remuneration of key manager
Unit: RMB/CNY
Item Current period Last Period
Remuneration of key manager 4400000.00 6230000.00
(8) Other related transactions
Unit: RMB/CNY
Related party Item Current period Last Period
RBCD Payment of technical commission fee etc. 312038.48 -
RBCD Purchasing fixed assets 1314941.34 528378.37
109无锡威孚高科技集团股份有限公司2022年半年度财务报告
Robert Bosch Company Payment of technical commission fee etc. 130459.36 4123940.70
Robert Bosch Company Sales of fix assets - 272339.98
Robert Bosch Company Purchasing fixed assets 54716.98 599549.16
WFEC Sales of fix assets - 414601.77
WFEC Energy payable- utilities 614493.68 -
6. Receivable/payable items of related parties
(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 WFPM 4660960.64 10925.29 1233084.39
Account receivable RBCD 385798620.85 56890.49 48954455.60 56805.74
Robert Bosch
Account receivable 328749828.77 845939.26 236685486.17 426203.85
Company
Other account Robert Bosch
692995.30
receivable Company
Account paid in Robert Bosch
539263.12
advance Company
Other non-current Robert Bosch
37057941.009932547.00
assets Company
Account receivable WFEC 64400.00 6440.00 6212780.39
Account receivable Changchun Xuyang 227321.23 2224.35 995215.93
Account receivable Hebei Machinery 86362016.99
Account paid in
Guokai Metal 793600.00
advance
(2) Payable item
Unit: RMB/CNY
Item Related party Ending book balance Opening book balance
Account payable WFPM 9711292.58 11634159.55
Other account payable WFPM 29000.00 29000.00
Account payable WFEC 302317621.63 299939408.63
Account payable RBCD 25567164.72 33418536.50
Account payable Robert Bosch Company 3316768.42 16412385.58
Account payable Guokai Metal 2.86
Other current liabilities RBCD 0.05 120466375.78
Other current liabilities Robert Bosch Company 3170.62 39165.98
Other current liabilities WFEC 1415.05
Other account payable Wuxi Industry Group 5475621.94 5476184.14
Contractual liability RBCD 0.36 0.36
Contractual liability Robert Bosch Company 113046.28 796325.77
Contractual liability WFEC 10884.98
Other account payable Guokai Metal 2717849.00 2717849.00
110无锡威孚高科技集团股份有限公司2022年半年度财务报告
7. Undertakings of related party
Nil
8. Other
Nil
XIII. Share-based payment
1. Overall situation of share-based payment
□Applicable □Not applicable
Unit: RMB/CNY
Total amount of various equity instruments granted
0.00
by the company in the current period
Total amount of various equity instruments
0.00
exercised by the company in the current period
Total amount of various equity instruments
0.00
invalidated by the company in the current period
The grant price is 15.48 Yuan per share; the exercise time is from the first
trading day 24 months after the completion of the registration of the restricted
The scope of the exercise price of the stock options
stocks granted in the first tranche to the last trading day within 60 months
issued by the company at the end of the period and
from the date of completion of the registration of the restricted stock granted
the remaining period of the contract
in the first tranche so the remaining period of the contract is 3 years and 5
months.
2. Share-based payment settled by equity
□Applicable □Not applicable
Unit: RMB/CNY
Determine based on the closing price of the
Method for determining the fair value of equity instruments on the grant date
restricted stock on the grant date
Basis for determining the number of vesting equity instruments Unlocking conditions
Reasons for the significant difference between estimate in the current period and
N/A
estimate in the prior period
Cumulative amount of equity-settled share-based payments included in the
118866686.47
capital reserve
Total amount of expenses confirmed by equity-settled share-based payments in
35819280.93
the current period
Other explanation
This restricted stock incentive plan has been reviewed and approved by the company's second extraordinary general meeting of
shareholders in 2020. The overview of this restricted stock incentive plan is as follows:
(1) Stock source: the company's A-share common Share repurchased from the secondary market.
(2) Grant date: November 12 2020.
(3) Grant objects and number of grants: 19540000 restricted stocks were granted to 601 incentive objects of the company and its
subsidiaries.
(4) Grant price: 15.48 Yuan/share.
(5) Grant registration completion date: December 4 2020.
(6) Lifting the restrictions on sales:
111无锡威孚高科技集团股份有限公司2022年半年度财务报告
Ratio of unlocked
Unlock period Unlock time quantity to granted
quantity
Starting from the first trading day 24 months after the completion of the registration
Phase I unlocked 4/10
of the first grant and ending on the last trading day within 36 months
Starting from the first trading day 36 months after the completion of the registration
Phase II unlocked 3/10
of the first grant and ending on the last trading day within 48 months
Starting from the first trading day 48 months after the completion of the registration
Phase III unlocked 3/10
of the first grant and ending on the last trading day within 60 months
(7)Performance appraisal requirements at the company level:
Unlock conditions Performance appraisal requirements
1. the weighted average ROE for year of 2021 is not less than 10%;
2. the growth rate of self-operating profit in 2021 will not be less than 6% compared with the year of
The first batch of unlock
2019 the absolute amount will not be less than 845 million Yuan;
conditions
3. the cash dividends for year of 2021 shall be no less than 50% of the profit available for distribution of
the current year.
1. the weighted average ROE for year of 2022 is not less than 10%;
2. the growth rate of self-operating profit in 2022 will not be less than 12% compared with the year of
The second batch of
2019 the absolute amount will not be less than 892 million Yuan;
unlocking conditions
3. the cash dividends for year of 2022 shall be no less than 50% of the profit available for distribution of
the current year.
1. the weighted average ROE for year of 2023 is not less than 10%;
2. the growth rate of self-operating profit in 2023 will not be less than 20% compared with the year of
The third batch of unlocking
2019 the absolute amount will not be less than 958 million Yuan;
conditions
3. the cash dividends for year of 2023 shall be no less than 50% of the profit available for distribution of
the current year.Other explanation: self-operating profit refers to the net profit attributable to the owners of the parent company after deducting non-
recurring gains and losses and deducting the investment income from RBCD and Zhonglian Electronics.
3. Share-based payment settled by cash
□Applicable □Not applicable
4. Modification and termination of share-based payment
Nil
5. Other
Nil
XIV. Undertakings or contingency
1. Important undertakings
Important undertakings on balance sheet date : Nil
2. Contingency
(1) Contingency on balance sheet date
Nil
(2) For the important contingency not necessary to disclosed by the Company explained reasons
The Company has no important contingency that need to disclosed
3. Other
Nil
112无锡威孚高科技集团股份有限公司2022年半年度财务报告
XV. Events after balance sheet date
1. Important non adjustment matters
Nil
2. Profit distribution
Nil
3. Sales return
Nil
4. Other events after balance sheet dateOn February 7 2022 the Company held the 7th session of 10th BOD to deliberated and approved the “Proposal onEquity Acquisition and Related Transactions”. The Company intends to pay a cash with consideration of
approximately € 60 million to Robert Bosch S.p.A. Società Unipersonale for the 100% equity acquisition of
VHIT S.p.A. ocietàUnipersonale and its wholly-owned subsidiary VHIT Automotive Systems(Wuxi) Co. Ltd held
by Robert Bosch S.p.A. Società Unipersonale. After the transaction VHIT and VHCN will include in the scope of
consolidate statement.XVI. Other important events
1. Previous accounting errors collection
Nil
2. Debt restructuring
Nil
3. Assets replacement
Nil
4. Pension plan
The Enterprise Annuity Plan under the name of WFHT has deliberated and approved by 8th session of 7th BOD: in
order to mobilize the initiative and creativity of the employees established a talent long-term incentive mechanism
enhance the cohesive force and competitiveness in enterprise the Company carried out the above-mentioned annuity
plan since the date of reply of plans reporting received from labor security administration department. Annuity plans
are: the annuity fund are paid by the enterprise and employees together; the enterprise’s contribution shall not exceed
8% of the gross salary of the employees of the enterprise per year the combined contribution of the enterprise and
the individual employee shall not exceed 12% of the total salary of the employees of the enterprise. In accordance
with the State’s annuity policy the Company will adjusted the economic benefits in due time in principle of
responding to the economic strength of the enterprise the amount paid by the enterprise at current period control in
the 8 percent of the total salary of last year the maximum annual allocation to employees shall not exceed five times
the average allocation to employees and the excess shall not be counted towards the allocation. The individual
113无锡威孚高科技集团股份有限公司2022年半年度财务报告
contribution is limited to 1% of one’s total salary for the previous year. Specific paying ratio later shall be adjusted
correspondingly in line with the operation condition of the Company.In December 2012 the Company received the Reply on annuity plans reporting under the name of WFHT from
labor security administration department later the Company entered into the Entrusted Management Contract of
the Annuity Plan of WFHT with PICC.
5. Termination of operation
Not applicable
6. Segment
(1) Recognition basis and accounting policy for reportable segment
Determine the operating segments in line with the internal organization structure management requirement and
internal reporting system. Operating segment of the Company refers to the followed components that have been
satisfied at the same time:
* The component is able to generate revenues and expenses in routine activities;
* Management of the Company is able to assess the operation results regularly and determine resources allocation
and performance evaluation for the component;
* Being analyzed financial status operation results and cash flow of the components are able to require by the
Company
The Company mainly engaged in the manufacture of fuel system of internal combustion engine and fuel cell
components products auto components muffler and purifier etc. based on the product segment the Company
determine 4 reporting segments as auto fuel injection system and fuel cell components air management system and
exhaust gas treatment system and platform trading business. Accounting policy for the 4 reporting segments are
shares the same policy state in Note V
Segment assets exclude trading financial asset other account receivables-dividend receivable other non-current
financial assets other equity instrument investment long term equity investment and other retained assets since
these assets are not related to products operation.
(2) Financial information for reportable segment
Unit: RMB/CNY
Add:
investment/inco
me measured by
Fuel injection equity debt
Exhaust Gas Auto air instrument &
system & Fuel
Treatment management Platform trading instrument Offset of
Item cell components Total
System products system products business investment or segment
products
division division retained assets
division and
income/losses
on holdings and
disposals etc.Operating 3624502718.3 3303183248.8 7321835360.9
revenue 264983477.58 184662503.01 55496586.76 3 2 8
Operating 2840070534.1 3007896515.6 6024571742.7
cost 205014212.18 28409519.28 7 4 1
114无锡威孚高科技集团股份有限公司2022年半年度财务报告
Total 1370978589.1
285746385.7064188537.725203744.82161466407.39854359415.83-14097.70
Profit 6
1270424801.9
Net profit 241136739.90 55819933.05 2147505.09 121099805.54 850210281.10 -10537.27
5
Total 9444092186.3 5284615141.2 4701883464.0 12388798458. 1318556132.8 31402279358.assets 901446241.17 5 5 0 11 3 05
Total 2940523194.0 3878743245.8 4580783658.4 11823176560.liabilities 452454237.45 -344716.26 28983058.99 3 1 6 50
(3) If the company has no reportable segments or is unable to disclose the total assets and liabilities of each
reportable segment it should state the reasons
Not applicable
(4) Other explanation
Nil
7. Major transaction and events makes influence on investor’s decision
Nil
8. Other
Nil
XVII. Principal notes of financial statements of parent company
1. Account receivable
(1) Classification of account receivable
Unit: RMB/CNY
Ending balance
Category Book balance Bad debt provision
Provision Book value
Amount Ratio Amount
ratio
Account receivable with bad debt
7705639.710.82%7705639.71100.00%
provision accrual on a single basis
Including:
Account receivable with bad debt
928422567.5599.18%3062064.170.33%925360503.38
provision accrual on portfolio
Including:
Receivables from clients 742137856.93 79.28% 3062064.17 0.41% 739075792.76
Receivables from internal related
186284710.6219.90%186284710.62
parties
Total 936128207.26 100.00% 10767703.88 1.15% 925360503.38
Unit: RMB/CNY
Opening balance
Category Book balance Bad debt provision
Provision Book value
Amount Ratio Amount
ratio
Account receivable with bad debt
7803945.241.42%7803945.24100.00%
provision accrual on a single basis
115无锡威孚高科技集团股份有限公司2022年半年度财务报告
Including:
Account receivable with bad debt
540453844.9798.58%3495954.750.65%536957890.22
provision accrual on portfolio
Including:
Receivables from clients 324001494.50 59.10% 3495954.75 1.08% 320505539.75
Receivables from internal related
216452350.4739.48%216452350.47
parties
Total 548257790.21 100.00% 11299899.99 2.06% 536957890.22
Bad debt provision accrual on single basis: 7705639.71 yuan
Unit: RMB/CNY
Ending balance
Name Bad debt
Book balance Provision ratio Accrual causes
provision
BD bills 7201691.00 7201691.00 100.00% Have difficulty in collection
Tianjin LOVOL Engines Co. Ltd. 503945.24 503945.24 100.00% Have difficulty in collection
Quanchai Engine Co. Ltd. 3.47 3.47 100.00% Have difficulty in collection
Total 7705639.71 7705639.71
Bad debt provision accrual on portfolio:3062064.17 yuan
Unit: RMB/CNY
Ending balance
Name
Book balance Bad debt provision Provision ratio
Within 6 months 729344451.43
6 months to 1 year 8379147.23 837914.72 10.00%
1-2 years 2039943.17 407988.63 20.00%
2-3 years 930257.13 372102.85 40.00%
Over 3 years 1444057.97 1444057.97 100.00%
Total 742137856.93 3062064.17
If the provision for bad debts of accounts receivable is made in accordance with the general model of expected credit losses please
refer to the disclosure of other receivables to disclose related information about bad-debt provisions:
□Applicable □Not applicable
By account age
Unit: RMB/CNY
Account age Ending balance
Within 1 year (including 1 year) 924008309.28
Including: Within 6 months 915629162.05
6 months to 1 year 8379147.23
1-2 years 2543888.41
2-3 years 930257.13
Over 3 years 8645752.44
3-4 years 8645752.44
Total 936128207.26
(2) Bad debt provision accrual collected or switch back
Bad debt provision accrual in the period:
Unit: RMB/CNY
116无锡威孚高科技集团股份有限公司2022年半年度财务报告
Amount changed in the period Ending balance
Category Opening balance Collected or
Accrual Charge off Other
reversal
Bad debt provision 11299899.99 532196.11 10767703.88
Total 11299899.99 532196.11 10767703.88
Important bad debt provision collected or switch back: nil
(3) Account receivable actual charge off in the Period
Nil
(4) Top 5 receivables at ending balance by arrears party
Unit: RMB/CNY
Ending balance of Ratio in total ending balance of Ending balance of bad debt
Name
account receivable account receivables reserve
RBCD 385781400.37 41.21% 56890.49
Custom 2 132064675.11 14.11% 331649.87
WFTR 80332439.40 8.58%
WFCA 63975039.80 6.83%
Robert Bosch Company 48039920.31 5.13% 2717.43
Total 710193474.99 75.86%
(5) Account receivable derecognition due to financial assets transfer
Nil
(6) Assets and liabilities resulted by account receivable transfer and continues involvement
Nil
2. Other account receivable
Unit: RMB/CNY
Item Ending balance Opening balance
Interest receivable 102777.78 113055.56
Dividend receivable 560425376.21 26718900.00
Other account receivable 3276834556.22 177293562.07
Total 3837362710.21 204125517.63
(1) Interest receivable
1) Category of interest receivable
Unit: RMB/CNY
Item Ending balance Opening balance
Interest receivable of unified-borrowing & unified-lending 102777.78 113055.56
Total 102777.78 113055.56
117无锡威孚高科技集团股份有限公司2022年半年度财务报告
2) Significant overdue interest
Nil
3) Accrual of bad debt provision
□Applicable □Not applicable
(2) Dividend receivable
1) Category of dividend receivable
Unit: RMB/CNY
Item (or invested enterprise) Ending balance Opening balance
Zhonglian Automobile Electronics Co. Ltd. 194400000.00
RBCD 366025376.21
WFAM 26718900.00
Total 560425376.21 26718900.00
2) Important dividend receivable with account age over one year
Nil
3) Accrual of bad debt provision
□Applicable □Not applicable
(3) Other account receivable
1) Other account receivables classification by nature
Unit: RMB/CNY
Nature Ending book balance Opening book balance
Staff loans and petty cash 1041780.00 400080.00
Balance of related party in the consolidate scope 3266686521.72 169746521.72
Security deposit 3259262.41 1518640.00
Withholding the social security provident funds 6202190.99 5926527.66
Other 7328.10 9364.69
Total 3277197083.22 177601134.07
2) Accrual of bad debt provision
Unit: RMB/CNY
Phase I Phase II Phase III
Expected Expected credit losses for Expected credit losses for
Bad debt provision credit losses the entire duration the entire duration (with Total
over next 12 (without credit credit impairment
months impairment occurred) occurred)
Balance on Jan. 1 2022 307572.00 307572.00
Balance of Jan. 1 2022 in the period
Current accrual 54955.00 54955.00
Balance on Jun. 30 2022 362527.00 362527.00
Change of book balance of loss provision with amount has major changes in the period
□Applicable □Not applicable
118无锡威孚高科技集团股份有限公司2022年半年度财务报告
By account age
Unit: RMB/CNY
Account age Ending balance
Within 1 year (including 1 year) 3240762941.50
Including: Within 6 months 3226513391.50
6 months to 1 year 14249550.00
1-2 years 21843906.00
2-3 years 14552695.72
Over 3 years 37540.00
3-4 years 37540.00
Total 3277197083.22
3) Bad debt provision accrual collected or switch back
Bad debt provision accrual in the period:
Unit: RMB/CNY
Amount changed in the period
Opening
Category
balance Collected or
Ending balance
Accrual Charge off Other
reversal
Bad debt provision 307572.00 54955.00 362527.00
Total 307572.00 54955.00 362527.00
4) Other receivables actually Charge off during the reporting period
Nil
5) Top 5 other receivables at ending balance by arrears party
Unit: RMB/CNY
Ratio in
Ending
total ending
balance of
Enterprise Nature Account age balance of Account age
bad debt
other
reserve
receivables
Balance of related party in Within 6
WFTR 3214940000.00 98.10%
the consolidate scope months
Balance of related party in Within 2
WFCA 36193906.00 1.10%
the consolidate scope years
Balance of related party in Within 3
WFMA 15552615.72 0.47%
the consolidate scope years
ZKH Industrial Supermarket
Security deposit 1000000.00 1-2 years 0.03% 200000.00
(Shanghai) Co. Ltd.Within 6
Wuxi Youlian Power Co. Ltd. Security deposit 750000.00 0.02%
months
Total 3268436521.72 99.72% 200000.00
6) Other account receivables related to government grants
Nil
7) Other receivable for termination of confirmation due to the transfer of financial assets
Nil
119无锡威孚高科技集团股份有限公司2022年半年度财务报告
8) The amount of assets and liabilities that are transferred other receivable and continued to be involved
Nil
3. Long-term equity investment
Unit: RMB/CNY
Ending balance Opening balance
Depreciati Depreciati
Item
Book balance on Book value Book balance on Book value
reserves reserves
Investment for
2271500668.512271500668.512106415908.372106415908.37
subsidiary
Investment for
associates and 4568844855.75 4568844855.75 4760866320.19 4760866320.19
joint venture
Total 6840345524.26 6840345524.26 6867282228.56 6867282228.56
(1) Investment for subsidiary
Unit: RMB/CNY
Current changes (+ -) Ending
The invested Opening balance Negative Ending balance balance of
Additional Provision for
entity (book value) Investmen Other (book value) depreciation
Investment impairment loss
t reserves
WFJN 185974031.01 3234676.26 189208707.27
WFLD 468968346.39 3775184.78 472743531.17
WFMA 170998252.32 994187.38 171992439.70
WFCA 222778790.43 708774.70 223487565.13
WFTR 33924529.85 318710.84 34243240.69
WFSC 51150646.86 428118.96 51578765.82
WFTT 238112165.62 1398521.94 239510687.56
WFAM 82454467.99 82454467.99
WFDT 54116034.53 28541.28 54144575.81
SPV 597938643.37 154198044.00 752136687.37
Total 2106415908.37 165084760.14 2271500668.51
(2) Investment for associates and joint venture
Unit: RMB/CNY
Current changes (+ -)
A Othe Endi
dd r Ot ng
iti Ca com he bala
on pit preh r Impa nce
Investment Cash dividend
Opening balance al al ensi eq irme Ot Ending balance of
Enterprise gain/loss or profit
(book value) in re ve ui nt he (book value) depr
recognized announced to
ve du inco ty accr r eciat
under equity issued
st cti me ch ual ion
m on adju an reser
en stme ge ves
t nt
I. Joint venture
II. Associated enterprise
565073831.0732050752.4
RBCD 3193389537.44 3026412616.04
33
Zhonglian 168241541.9 194400000.0
1378575785.771352417327.70
Automobile 3 0
WFPM 45845041.36 5479693.04 51324734.40
ChelianTian
143055955.62-4365778.01138690177.61
xia
120无锡威孚高科技集团股份有限公司2022年半年度财务报告
734429287.9926450752.4
Subtotal 4760866320.19 4568844855.75
93
734429287.9926450752.4
Total 4760866320.19 4568844855.75
93
(3) Other explanation
Nil
4. Operating income and cost
Unit: RMB/CNY
Current period Last Period
Item
Income Cost Income Cost
Main business 2262029970.36 1784089964.47 3010827415.47 2214544926.38
Other business 149159237.68 135896195.07 210116060.96 188982608.49
Total 2411189208.04 1919986159.54 3220943476.43 2403527534.87
Information related to performance obligations: N/A
5. Investment income
Unit: RMB/CNY
Item Current period Last Period
Investment income from holding trading financial asset 100780374.04 3468760.80
Investment income in subsidiaries 55881129.25
Investment income in joint ventures and associated enterprises 734429287.99 831855487.43
Investment income of financial products 137428400.49
Total 835209662.03 1028633777.97
6. Other
Nil
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 -285098.92
Governmental grants reckoned into current gains/losses (except for those with normal operation
business concerned and conform to the national policies & regulations and are continuously enjoyed 26095621.93
at a fixed or quantitative basis according to certain standards)
Profit and loss of assets delegation on others’ investment or management 508215.09
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
-69141331.87
liabilities and the investment earnings obtained from disposing the trading financial asset trading
financial liability and financial assets available for sale
Switch back of provision for depreciation of account receivable which was singly taken
593396.00
depreciation test
Other non-operating income and expenditure except for the aforementioned items 197098.29
Less: Impact on income tax -6602079.68
121无锡威孚高科技集团股份有限公司2022年半年度财务报告
Impact on minority shareholders’ equity 852439.65
Total -36282459.45 --
Specific information on other items of profits/losses that qualified the definition of non-recurring profit(gain)/loss
□Applicable □Not applicable
The Company does not have other items of profits/losses that qualified the definition of non-recurring profit(gain)/loss
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
2. ROE and earnings per share(EPS)
Earnings per share(EPS)
Weighted
Profits during report period
average ROE Basic earnings per Diluted earnings per
share (RMB/Share) share (RMB/Share)
Net profits belong to common stock stockholders of the
6.24%1.251.25
Company
Net profits belong to common stock stockholders of the
6.43%1.281.28
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
(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
Nil
122
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