上海95后夜猫子报告

2003年半年度报告海立股份2003年半年度报告1上海海立(集团)股份有限公司2003年半年度报告重要提示公司董事会及董事保证本报告所载资料不存在虚假记载、误导性陈述或者重大遗漏,并对其内容的真实性、准确性和完整性承担个别及连带责任.
董事王方华先生、黄辉先生因工作原因未能参加本次董事会会议,分别委托顾惠龙先生、沈建芳先生出席会议并代行表决权.
本公司董事长顾惠龙先生、总经理沈建芳先生、副总会计师兼财务部部长刘惠诚先生保证年度报告中财务报告的真实、完整.
公司半年度财务报告未经审计.
目录第一节公司基本情况…2第二节股本变动和主要股东持股情况…3第三节董事、监事、高级管理人员情况…4第四节管理层讨论与分析…4第五节重要事项…6第六节财务报告…8备查文件…34海立股份2003年半年度报告2第一节公司基本情况一、公司概况(一)公司法定中文名称:上海海立(集团)股份有限公司公司法定英文名称:SHANGHAIHIGHLY(GROUP)CO.
,LTD.
公司名称英文缩写:HIGHLY(二)公司股票上市交易所:上海证券交易所股票简称:海立股份(A股)海立B股(B股)股票代码:600619(A股)900910(B股)(三)公司注册地址:中国上海浦东金桥出口加工区26号地块公司办公地址:中国上海长阳路2555号邮政编码:200090公司国际互联网网址:http://www.
highly.
cc电子信箱:heartfelt@highly.
cc(四)公司法定代表人:顾惠龙(五)公司董事会秘书:钟磊联系地址:中国上海长阳路2555号联系电话:021-65660000传真:021-65670941电子信箱:zhonglei@highly.
cc(六)公司选定的信息披露报纸名称:《上海证券报》、香港《南华早报》登载公司半年度报告的中国证监会指定国际互联网网址:http://www.
sse.
com.
cn公司半年度报告备置地点:公司办公地二、主要财务数据和指标截止2003年6月30日公司合并的主要财务数据和指标(单位:元)本报告期末上年度期末本报告期末比年初数增减(%)流动资产1,695,078,544.
631,241,502,503.
6336.
53流动负债2,032,561,234.
651,736,108,965.
5417.
08总资产3,603,621,504.
443,288,768,694.
059.
57股东权益(不含少数股东权益)1.
042,448,467.
45989,187,780.
595.
38每股净资产2.
742.
605.
38调整后的每股净资产2.
642.
543.
94海立股份2003年半年度报告3报告期(1-6月)上年同期本报告期比上年同期增减(%)净利润33,060,852.
48107,929,371.
29-69.
37扣除非经常性损益后的净利润28,940,002.
24107,856,851.
61-73.
17每股收益0.
0870.
284-69.
37净资产收益率3.
17%9.
99%-68.
27经营活动产生的现金流量净额337,801,777.
7715,132,829.
322132.
24非经常性损益项目金额营业外收入166,883.
35营业外支出-3,953,966.
89合计-3,787,083.
54第二节股本变动和主要股东持股情况一、报告期内公司股份总数及股本结构未发生变化.
二、截止2003年6月30日,公司股东总数为39,320户,其中A股流通股14,690户,B股24,533户.
三、主要股东持股情况(一)、前十名股东持股情况单位:股股东名称年度内增减年末持股数量比例(%)股份类别质押或冻结的股份数量股东性质上海轻工控股(集团)公司-120,000,00031.
53未流通股-国家股上海久事公司-16,963,2064.
46未流通股-社会法人股上海国际信托投资公司-6,692,4001.
76未流通股-社会法人股中国工商银行上海市第二支行-5,772,7021.
52未流通股-社会法人股上海新工联(集团)有限公司-4,035,7201.
06未流通股-社会法人股上海上立实业发展合作公司-3,301,8000.
87未流通股-社会法人股上海电气(集团)总公司-3,102,8400.
82未流通股-社会法人股上海仪阳企业发展有限公司-2,100,0000.
55未流通股-社会法人股交通银行上海分行-2,028,0000.
53未流通股-社会法人股中国工商银行上海市浦东分行-2,028,0000.
53未流通股-社会法人股(二)、前十名股东中中国工商银行上海市第二支行与中国工商银行上海市浦东分行为关联企业.
上海久事公司持有上海国际信托投资公司20%股权.
其余不存在关联关系或一致行动情况.
(三)、截止2003年6月30日,持有公司5%以上股份的股东为上海轻工控股(集团)公司,共持股120,000,000股国家股,占公司股份总数的31.
53%,报告期内其所持股份未有增减,亦无质押或冻结情况.
海立股份2003年半年度报告4第三节董事、监事、高级管理人员情况一、报告期内公司董事、监事、高级管理人员所持公司股票发生变动情况姓名职务年初持股数年末持股数变动原因施亚龙监事1150015400二级市场购入其他公司董事、监事、高级管理人员报告期内所持公司股票未发生变动.
新任董事未持有本公司股票.
二、报告期内公司董事、监事、高级管理人员变动情况.
(一)、2003年5月23日,公司董事会临时会议通过决议,同意孙华林先生辞去公司总会计师职务.
总经理沈建芳先生兼任财务负责人.
(二)、2003年6月27日,公司2002年年度股东大会通过决议,选举罗伟德、徐辉为独立董事;免去冯国栋、董晓青、郑建东等3人董事职务.
第四节管理层讨论与分析一、报告期内经营情况(一)、公司主要经营范围为生产销售空调压缩机、冰箱压缩机以及除湿机压缩机等.
属电器机械及器材制造业.
(二)、2003年公司经营遭遇了压缩机售价大幅下降和原材料价格大幅上涨以及突如其来的"SARS"疫情的严峻挑战,但通过采取积极的应对措施,压缩机产销与上年同期相比都有较大的增长.
2003年上半年生产压缩机429.
91万台,其中空调压缩机422.
22万台,与上年同期相比增长26.
96%;销售压缩机469.
56万台,其中空调压缩机461.
64万台,与上年同期相比增长37.
45%;上半年销售已超过全年计划的70%,为完成全年计划打下坚实基础.
据中国家用电器协会统计,2003年上半年本公司空调压缩机销售占全国市场份额的21.
58%,其中出口35.
52万台,占全国空调压缩机出口的42.
52%,销售和出口均居全国行业之首.
实现主营业务收入164,943万元,与上年同期基本持平;净利润3,306万元,比上年同期相比下降69.
37%.
主营业务收入和主营业务成本构成情况:主营业务收入主营业务成本毛利率(%)主营业务收入比上年同期增减(%)主营业务成本比上年同期增减(%)毛利率比上年同期增减(%)制造业1,592,344,372.
021,402,314,690.
3911.
93-2.
1212.
60-11.
51房地产87,950,000.
0094,429,144.
59-7.
3719809.
7545037.
37-60.
01海立股份2003年半年度报告5主营业务分地区情况地区主营业务收入主营业务收入比上年增减(%)华北282,175,179.
69-39.
62华南568,217,363.
5513.
34华东621,825,277.
5812.
12外销166,549,470.
0560.
20其他41,527,081.
15(三)、报告期内公司主营业务及结构未发生变化,主营业务收入、主营业务利润均来自于压缩机生产销售.
由于压缩机销售价格与上年同期相比有较大的下降,而钢材、漆包线等原材料价格有较大的上涨,导致压缩机的毛利率下降.
(四)、对公司净利润影响达10%以上的参股公司经营情况参股公司名称上海海立中野冷机有限公司本期贡献的投资收益522.
66万元占上市公司净利润的比重15.
78%经营范围生产冷冻、冷藏陈列柜、冷冻、冷藏库,陈列用货架及冷冻机,冷凝装置等相关设施,销售自产产品以及上述设备的施工、安装、维修和技术咨询服务.
参股公司净利润1215.
48万元(五)、经营中的问题和困难2003年公司经营碰到了压缩机降价、原材料价格大幅上涨以及"SARS"疫情给销售带来影响等诸多困难,为了最大限度地降低不利因素对公司经营的影响,公司审时度势,应对挑战:①以科技为本,积极调整产品结构,扩大国内外销售量.
不断研发适应日本市场的变频机种、美国市场的高效节能机种、欧洲市场的环保机种,扩大出口量,今年上半年出口35.
52万台,与上年同期相比增长82.
72%.
同时根据市场需求,积极增加竞争力强、附加值高的3匹双转子压缩机的销售,去年全年销售11万台,今年1~6月已经完成25万台;同时将去年底新形成50万台能力的高效1.
5HPSL/TL系列压缩机快速推向市场,今年1~6月也已完成32.
6万台销售;②最大限度降低成本,控制各项费用.
通过细分降成本目标,对单台各项费用分别进行考核,从而降低产品的成本;加紧产品低成本化设计改进,在努力使产品性能不降低的前提下,采用低成本结构设计,并探索采用成本更低的加工工艺,今年上半年平均单台成本比上年同期下降17%.
③加强应收账款的回笼力度,有效控制期间费用.
今年上半年销售同比增长37.
45%,应收款与上年同期相比有所下降.
④强化营销体系.
推行以顾客为中心的客户经理制,并建立国际营业部,进一步完善对客户的服务功能,增强了市场拓展能力.
二、投资情况(一)、报告期内没有用募集资金或以前年度募集资金投资项目,亦无报告期之前募集资海立股份2003年半年度报告6金的使用延续到本报告期内.
(二)、报告期内非募集资金投资项目情况1、根据董事会二届十三次会议决议,公司对上海日立电器有限公司进行增资,实施KU/MU系列空调压缩机项目.
按照项目的实施进度,双方股东第一次增资882万美元,本公司于2003年3月20日完成出资661.
5万美元.
目前项目正在建设中.
2、上海海立铸造有限公司扩大机加工生产能力项目已于2003年5月全面竣工,新增1.
5HPSL/TL系列空调压缩机零件年产100万套生产能力.
三、对本年至下一报告期期末的净利润预测由于压缩机销售价格与去年同期相比有较大的下降,而钢材、漆包线等原材料价格有较大的上涨,导致压缩机的毛利率下降,因此预测本年至下一报告期期末的净利润可能比去年同期下降50%以上.
第五节重要事项一、公司治理状况报告期内,对照《上市公司治理准则》的要求,对公司实际治理状况中存在的差异进行了改进.
公司已按照《上市公司治理准则》,修改了公司章程,对董事会结构进行调整,增补罗伟德、徐辉两位为第三届董事会独立董事,使董事会成员中独立董事达到三分之一.
下半年将调整完善董事会专门委员会,并按董事会专门委员会实施细则开展工作.
二、本公司上一年度未进行现金股利分配.
2003年中期不进行利润分配.
三、报告期内公司没有发生及以前期间发生但持续到本报告期的重大诉讼、仲裁事项.
四、报告期内公司未发生重大资产收购事项五、报告期内公司重大关联交易事项(一)、报告期内没有因购销商品、提供劳务而发生的重大关联交易事项.
(二)、报告期内没有因资产收购、出售而发生的重大关联交易事项(三)、公司与关联方存在的债权、债务往来或担保事项1、公司与关联方存在的债权、债务往来事项公司全资子公司上海金旋房地产开发经营公司因开发房产需要,报告期内向公司借款3000万元,截止6月30日,借款余额为2300万元.
该项借款按银行相同利率计算并支付利息.
2、截止本报告期末,公司为下述公司向金融机构提供连带责任担保:上海扎努西电气机械有限公司15,175万元人民币上海金旋铸造有限公司1,600万元人民币上海海立特种制冷设备有限公司600万元人民币形成原因:上述公司均为公司控股或参股子公司.
按照投资各方协议,各投资方需按投资比例为上述公司的银行贷款提供担保.
清偿情况:对于上述担保,未发生逾期现象,因此对公司未来的经营成果与财务状海立股份2003年半年度报告7况不会产生影响.
六、重大合同及履行情况(一)、报告期内,公司没有发生或以前期间发生但延续到报告期的重大托管、承包、租赁其他公司资产或其他公司托管、承包、租赁公司资产的事项.
(二)、重大担保合同1、公司与上海上菱电器股份有限公司签订的互为对方的银行贷款申请提供信用保证协议已到期,最后一笔1000万元贷款的担保义务已于2003年2月履行完毕.
2、公司与上海申达股份有限公司签订互为对方的银行贷款申请提供信用保证协议书于2003年6月到期,报告期内本公司为其担保4,990万元.
截止2003年6月30日公司为其提供担保余额为人民币0.
(三)、报告期内,公司没有发生或以前期间发生但延续到报告期的重大委托他人进行现金资产管理的事项.
七、报告期内,公司或持有公司股份5%以上(含5%)的股东没有发生或以前期间发生但持续到报告期的对公司经营成果、财务状况可能产生重要影响的承诺事项.
八、公司2002年年度股东大会决议,为了更有利于公司作好信息披露工作,同时提高境内外审计独立性,改聘毕马威会计师事务所为2003年度境外财务审计机构.
九、报告期内已批露的信息索引项目披露的报刊名称及互连网网址日期董事会关于收购海立中野股权的关联交易实施情况公告2003年1月4日董事会三届四次会议决议公告2003年4月8日监事会三届四次会议决议公告2003年4月8日董事会三届五次会议决议公告2003年4月29日董事会临时会议决议公告2003年5月27日召开2002年度股东大会的公告2003年5月27日2002年年度股东大会决议公告2003年6月28日董事会关于终止实施增发A股的公告《上海证券报》、香港《南华早报》http://www.
sse.
com.
cn2003年6月28日十、其他公司重要信息(一)、上海日立电器有限公司荣获"全国五一劳动奖章".
(二)、2003年4月公司董事会决议公告披露,公司拟收购上海实创塑料有限公司30%股权,现因出让方原因,暂停此项收购.
(三)、2003年4月,公司控股子公司上海海立铸造有限公司的另一方股东——上海金教实业有限公司将其持有上海海立铸造有限公司20%股权中的7%转让给上海上立实业发展合作公司.
股权转让后,本公司、上海金教实业有限公司及上海上立实业发展合作公司分别持有上海海立铸造有限公司股权为80%、13%及7%.
海立股份2003年半年度报告8第六节财务报告(未经审计)一、资产负债表(附后)二、利润及利润分配表(附后)三、现金流量表(附后)四、会计报表附注(一)公司的基本情况1、公司的历史沿革:上海海立(集团)股份有限公司(以下简称"公司")经上海市经济委员会沪经企(1992)299号文批准设立,在中国上海注册登记的股份有限公司(上海市工商行政管理局颁发法人营业执照).
现公司法定代表人为顾惠龙,注册地址为上海市浦东新区金桥出口加工区26号地块,办公地址为上海长阳路2555号.
公司注册资本为38,052万元,其中公司发行的境内上市人民币普通股(A股)2,208万股、境内上市外资股(B股)17,940万股、境内上市外资股(B股)在中国上海证券交易所上市.
2、公司所属行业性质和业务范围:公司所属行业为电器机械及器材制造业.
经营范围:公司主要从事研发、生产制冷设备及零部件、汽车零部件、家用电器及相关的材料、机械、电子产品,销售自产产品,投资举办其他企业(涉及许可经营的凭许可证经营).
3、主要产品或提供的劳务:空调压缩机、除湿压缩机、汽车零部件、冰箱压缩机、制冷设备及其他.
4、季节性特征:公司主营业务主要是空调压缩机的,由于空调器行业的销售有季节性,本公司的产品销售大部分集中在上半年.
(二)、公司主要会计政策、会计估计和合并财务报表的编制方法1、会计准则和会计制度:公司及子公司执行《企业会计准则》、《企业会计制度》及其补充规定.
2、会计年度:自公历1月1日至12月31日.
3、记帐本位币:人民币.
4、记帐基础:权责发生制;计价原则:历史成本.
5、外币业务核算方法:会计期间内涉及外币的经济业务,按发生当月月初中国人民银行公布的市场汇价(中间价)折合人民币入帐.
月末将外币帐户中的外币余额按月末市场汇价(中间价)进行调整,发生的差额(损益),与购建固定资产有关的外币专门借款的本金及利息发生的部分予以资本化,属于筹建期间的部分计入长期待摊费用,其他部分计入当期费用.
6、现金等价物的确定标准:母公司及子公司持有的期限短、流动性强、易于转换为已知金额现金,价值变动风险很小的投资,确认为现金等价物.
7、应收款项坏帐损失核算方法:(1)坏帐的确认标准①因债务人破产或死亡,以其破产财产或遗产清偿后,仍不能收回的应收款项;海立股份2003年半年度报告9②因债务人逾期未履行偿债义务并且具有明显特征表明无法收回的应收款项.
以上确实不能收回的应收款项,按经批准的审批核销权限分级批准后,进行坏帐转销.
坏帐损失核算方法采用备抵法.
(2)坏帐准备的计提范围为全部应收帐款和其他应收款.
其中:①公司对应收帐款的坏帐损失核算采用以个别认定结合帐龄分析方法计提,即对能个别认定的先依据其可回收性予以计提,其余按帐龄分析法计提,提取比例为:帐龄计提比例半年以内0%半年~1年2%1年~2年20%2年~3年40%3年~5年70%5年以上95%②其他应收款坏帐损失核算采用个别认定法计提.
8、待摊费用摊销方法:待摊费用明细项目摊销期限摊销方式财产保险费2002年按受益期平均摊销9、存货核算方法:(1)公司存货的分类存货是指企业在正常生产经营过程中持有以备出售的产成品、开发成本或商品,或者为了出售仍然处在生产过程中的在产品,或者将在生产过程或提供劳务过程中耗用的材料物料等.
公司存货分类为:原材料、在产品、产成品、开发成本、开发产品、委托加工材料、低值易耗品、物料用品.
(2)取得存货入帐价值的确定方法:各种存货按取得时的实际成本记帐.
(3)发出存货的计价方法:存货日常核算采用计划成本方法,月末按当月材料成本差异率,将发出存货的计划成本调整为实际成本.
存货发出采用加权平均法计价.
(4)低值易耗品和包装物的摊销方法:低值易耗品按一次转销法摊销;包装物按一次转销法摊销.
(5)存货的盘存制度:公司的存货盘存制度采用永续盘存制.
(6)存货跌价准备的确认标准和计提方法公司期末存货按成本与可变现净值孰低计价.
由于存货遭受毁损、全部或部分陈旧过时和销售价格低于成本等原因造成的存货成本不可收回的部分,按单个存货项目的成本与可变现净值的差额计提存货跌价准备.
对于数量繁多,单价较低的存货,按存货类别计量成本与可变现净值.
存货可变现净值按企业在正常生产经营过程中,以估计售价减去估计完工成本及销售所必需的估计费用后的价值确定.
10、长期投资的核算方法:(1)长期股权投资计价和收益确认方法:长期股权投资包括股票投资和其他股权投资.
长期股权投资按其初始投资成本入账,即投资时实际支付的全部价款.
公司对被投资单位无控制、无共同控制且无重大影响的,长期股权投资采用成本法核海立股份2003年半年度报告10算;投资企业对被投资单位具有控制、共同控制或者重大影响的,长期股权投资采用权益法核算.
(2)股权投资差额的摊销方法和期限:对外长期股权投资采用权益法核算时,其取得成本与其在被投资单位所有者权益中所占份额之间的差额,计入长期股权投资差额,并按10年平均摊销计入损益.
(3)长期投资减值准备的确认标准和计提方法:采用逐项计提的方法.
公司对被投资单位由于市价持续下跌或被投资单位经营情况变化等原因,导致其可收回金额低于长期股权投资帐面价值时,按可收回金额低于长期股权投资帐面价值的差额,计提长期投资减值准备,计入当年度损益.
11、固定资产计价与折旧政策及固定资产减值准备的计提方法:(1)固定资产标准为:固定资产是指同时具有以下特征的有形资产:①为生产商品、提供劳务、出租或经营管理而持有;②使用期限超过1年;③单位价值较高.
具体标准为:①使用期限超过一年的房屋、建筑物、机器、机械、运输工具以及其他与生产、经营有关的设备、器具、工具等;②单位价值在2,000元以上,并且使用期超过2年的,不属于生产、经营设备的物品.
(2)固定资产分类为:房屋建筑物、机器设备、运输设备、办公设备、其他设备.
(3)固定资产计价和减值准备的确认标准、计提方法:固定资产按实际成本或确定的价值入帐.
每年期末,对固定资产逐项进行检查,将由于市价持续下跌、技术陈旧、损坏或长期闲置等原因导致的可收回金额低于其账面价值的差额作为固定资产减值准备,计入当期损益.
固定资产减值准备按单项资产计提.
(4)固定资产的折旧方法:固定资产折旧采用直线法平均计算,并按各类固定资产的原值和估计的经济使用年限扣除残值(原值的4~10%)制定其折旧率.
各类固定资产折旧率如下:资产类别估计经济使用年限年折旧率房屋及建筑物204.
5%-4.
8%机器设备109%-9.
6%运输设备518%-19.
2%办公设备518%-19.
2%其他设备518%-19.
2%对于房屋、建筑物的账面成本中所包含的土地使用权价值,如果土地使用权的预计使用年限高于房屋、建筑物的预计使用年限的,在预计该项房屋、建筑物的净残值时,考虑该项因素,并作为净残值预留,相应调整折旧率和净残值.
已计提减值准备的固定资产在计提折旧时,按照该项固定资产的帐面价值,以及尚可使用年限重新计算确定折旧率和折旧额;如果已计提减值准备的固定资产价值又得以恢复,则按照该项固定资产恢复后的帐面价值,以及尚可使用年限重新计算确定折旧率和折旧额.
12、在建工程核算方法:在建工程按实际发生的支出入帐,并在达到预定可使用状态时,按工程的实际成本确认为固定资产.
每年期末,对在建工程进行全面检查,如果有证据表明在建工程已经发生了减值,则计提减值准备,计入当期损益.
在建工程减值准备按单项资产计提.
海立股份2003年半年度报告1113、借款费用的核算方法:(1)借款费用资本化的确认原则和资本化期间依照《企业会计准则-借款费用》的规定,为购建固定资产所借入的专门借款,发生的利息、折价或溢价的摊销费用和汇兑差额,在同时符合以下条件时予以资本化,计入该项资产的成本:①资产支出已经发生;②借款费用已经发生;③为使资产达到预定可使用状态所必要的购建活动已经开始.
其他的借款利息、折价或溢价的摊销和汇兑差额,计入发生当期的损益.
若固定资产的购建活动发生非正常中断,并且中断时间连续超过3个月,暂停借款费用的资本化,将其确认为当期费用,直至资产的购建活动重新开始.
当所购建的固定资产达到预定可使用状态时,停止其借款费用的资本化;以后发生的借款费用于发生当期确认为费用.
因安排专门借款而发生的辅助费用,属于在所购建固定资产达到预定可使用状态之前发生的,在发生时予以资本化;其他辅助费用于发生当期确认为费用.
若辅助费用的金额较小,于发生当期确认为费用.
(2)借款费用资本化金额的计算方法每一会计期间的利息资本化金额根据至当期末止购建固定资产累计支出加权平均数和资本化率计算确定.
但是利息和折价或溢价摊销的资本化金额不超过当期专门借款实际发生的利息和折价或溢价的摊销金额.
14、无形资产计价及摊销方法:(1)无形资产的计价:按购入时实际支付的价款计价.
(2)无形资产的摊销方法和摊销年限自取得当月起按预计使用年限、合同规定的受益年限与法律规定的有效年限三者中的最短者平均摊销,各项无形资产的摊销年限如下表所示:无形资产类别摊销年限场地使用权46-50年工业产权和专有技术7年(3)无形资产减值准备的确认标准和计提方法于每年期末,检查各项无形资产预计给企业带来未来经济利益的能力,对预计可收回金额低于其账面价值的,应当计提减值准备,计入当期损益.
无形资产减值准备按单项项目计提.
15、长期待摊费用的摊销方法:(1)水电增容费按10年平均摊销;(2)一次性领用模具量具按受益期在3~5年内平均摊销;16、收入确认方法:(1)销售商品公司已将商品所有权上的重要风险和报酬转移给买方,公司不再对该商品实施管理权和实际控制权,与交易相关的经济利益能够流入企业,并且相关的收入和成本能够可靠地计量时,确认营业收入的实现.
转让、销售土地和商品房,在土地和商品房已经移交,已将发票结算帐单提交买方,并且符合上述收入确认的各项条件时,确认销售收入实现.
海立股份2003年半年度报告12(2)提供劳务在同一年度内开始并完成的,在劳务已经提供,收到价款或取得收取价款的证据时,确认劳务收入.
按完工百分比法,在劳务合同的总收入、劳务的完成程度能够可靠地确定,与交易相关的价款能够流入,已经发生的成本和完成劳务将要发生的成本能够可靠地计量时,确认劳务收入.
(3)让渡资产使用权利息收入按使用现金的时间和适用利率计算确定;发生的使用费收入按有关合同或协议规定的收费时间和方法计算确定.
上述收入的确定并应同时满足:①与交易相关的经济利益能够流入公司,②收入的金额能够可靠地计量.
17、所得税的会计处理方法:采用应付税款法.
18、主要会计政策、会计估计的变更及重大会计差错更正的说明:本期会计政策、会计估计无变化,也无重大会计差错.
19、合并财务报表编制方法:合并范围的确定原则和合并所采用的会计方法:根据财政部财会字(1995)11号《关于印发〈合并财务报表暂行规定〉的通知》和财会二字(96)2号《关于合并报表合并范围请示的复函》等文件的规定,以公司本部和纳入合并范围的子公司本年度的财务报表以及其他有关资料为依据,合并各项目数额编制而成.
合并时,公司的重大内部交易和资金往来均相互抵消.
公司在编制合并财务报表时,对原按行业会计制度编制的2002年度财务报表,已按《企业会计制度》及其有关补充规定的规定进行了调整及重新表述.
(三)、税项公司适用的税种与税率:税种税率计税基数企业所得税*15-33%应纳税所得额增值税17%按销项税额扣除当期允许抵扣的进项税额后的差额营业税3-5%营业额城建税7%应纳营业税额和增值税额*母公司注册地为浦东新区,企业所得税税率为15%;公司下属合并范围内的子公司上海日立电器有限公司作为外商投资技术先进企业,本年度企业所得税税率为15%;公司下属合并范围内的子公司上海森林电器有限公司作为外商投资企业享受15%的企业所得税税率;公司下属合并范围子公司上海金旋房地产开发经营公司企业所得税税率为33%.
本公司适用的费种与费率:费种费率计费基数教育费附加3%应纳营业税额、增值税额和消费税额河道工程维检费1%应纳营业税额、增值税额和消费税额海立股份2003年半年度报告13(四)、控股子公司及合营企业1、公司所控制的境内外所有子公司和合营企业情况以及公司合并报表的合并范围被投资单位全称业务性质注册资本经营范围本公司实际投资额本公司所占权益比例(%)是否合并合并或不合并的原因⑴上海日立电器有限公司工业美元15,904万生产房间用空调压缩机及其他家电产品,销售自产产品人民币93,297.
80万75是⑵上海森林电器有限公司工业美元6,000万开发制造制冷压缩机及相关产品,销售自产产品人民币27,207.
20万69是⑶上海金旋房地产开发经营公司房地产业人民币1,730万房地产经营、开发、房地产咨询等人民币1,730万100是⑷上海求精实业公司工业人民币200万建材、家电等人民币200万100否*1⑸上海海韵人造花有限公司工业人民币100万塑料花、涤纶花、塑料制品人民币80万80否*1⑹上海海立铸造有限公司工业人民币2,470万铸造件、五金加工、热处理、机械加工人民币1,976万80否*1⑺上海海立特种制冷设备有限公司工业人民币240万制冷、温度调节控制设备及相关产品的制造、安装等人民币145万60.
42否*1⑻上海海立置业有限公司房地产业人民币1,000万房地产开发、经营,物业管理,室内装潢,建筑材料,金属材料,通讯器材,批发另售人民币800万80是*2*1上海求精实业公司、上海海韵人造花、上海海立铸造有限公司和上海海立特种制冷设备有限公司四家子公司因其资产总额和销售收入占合并报表的比例,以及当期净利润占母公司净利润的比例单独计算或合并计算均在10%以下,对财务状况影响较小,根据重要性原则,不纳入合并报表范围.
*2上海海立置业有限公司是由本公司的控股子公司投资80%控股的子公司,并纳入子公司的合并范围.
该公司于2003年4月4日经上海市工商行政管理局批准成立,注册号为3102271009399.
2、本期公司合并范围未发生变动.
(五)、合并财务报表主要项目附注1、货币资金:项目币种期末数年初数原币汇率本位币原币汇率本位币现金人民币162,722.
2318,490.
24美元9,275.
528.
277476,777.
196,485.
378.
277353,681.
35日元380,506.
000.
06928026,361.
461,678,638.
000.
069035115,884.
77马克--4.
4155-银行存款人民币177,912,894.
61113,611,019.
64美元1,641,330.
108.
277413,585,945.
761,067,127.
578.
27738,832,935.
05日元795,427.
000.
06928055,107.
196,814,553.
000.
069035470,442.
67其他货币资金人民币25,253,500.
001,448,000.
00美元日元合计217,073,308.
44124,550,453.
72海立股份2003年半年度报告142、应收票据:票据种类期末数年初数银行承兑汇票235,839,029.
73115,216,483.
60商业承兑汇票12,076,102.
44合计247,915,132.
17115,216,483.
60截至报告期末,无已用于质押的商业承兑汇票.
3、应收股利:单位期末数年初数上海海立中野冷机有限公司2,985,529.
00-上海海韵人造花有限公司-94,602.
40合计2,985,529.
0094,602.
404、应收帐款:期末数年初数帐龄金额占应收帐款总额比例(%)坏帐准备计提比例(%)坏帐准备金额占应收帐款总额比例(%)坏帐准备计提比例(%)坏帐准备6个月以内838,784,364.
9395.
61402,987,306.
5872.
98--6个月至1年8,961,156.
491.
0238.
843,480,304.
39119,766,897.
2121.
693.
063,670,168.
341-2年15,305,512.
931.
7413.
782,109,532.
5121,421,679.
783.
8829.
546,327,982.
562-3年12,004,722.
441.
3752.
266,273,333.
976,274,712.
371.
1499.
986,273,333.
973年-5年1,308,070.
110.
1549.
39645,996.
97723,757.
740.
1396.
45698,076.
975年以上964,969.
870.
1183.
25803,383.
06991,455.
770.
1895.
00941,882.
98合计877,328,796.
77100.
001.
5213,312,550.
90552,165,809.
45100.
003.
2417,911,444.
82期末坏帐准备余额占应收帐款余额的比例小于5%的原因,系公司6个月以内的应收帐款余额为838,784,364.
93元,占总余额的95.
61%.
根据公司坏账准备计提政策,该账龄段的计提比例为0.
本帐户期末余额中无持本公司5%(含5%)以上表决权股份的股东单位欠款.
本项目期末余额中欠款金额前五名的欠款金额合计为347,982,698.
97元,占应收帐款总额的比例为39.
66%.
5、其他应收款:期末数年初数帐龄金额占其他应收款总额比例(%)坏帐准备计提比例(%)坏帐准备金额占其他应收款总额比例(%)坏帐准备计提比例(%)坏帐准备1年以内43,765,783.
3577.
0310.
744,698,686.
0815,880,074.
0848.
860.
2743,086.
621-2年1,752,353.
023.
08--12,289,342.
0437.
8110.
271,262,000.
00海立股份2003年半年度报告152-3年3,982,000.
007.
0131.
691,262,000.
0012,000.
000.
04--3-5年7,291,350.
5812.
8330.
582,229,902.
073,307,127.
0710.
1767.
432,229,902.
075年以上21,688.
000.
04100.
0021,688.
001,014,477.
763.
1232.
72331,977.
76合计56,813,174.
95100.
0014.
458,212,279.
1532,503,020.
95100.
0011.
903,866,966.
45本帐户年末余额中无持本公司5%(含5%)以上表决权股份的股东单位的欠款.
其他应收款年末余额中金额较大的债务人情况:债务人名称期末欠款余额性质或内容欠款时间(帐龄)上海上立实业发展合作公司18,359,951.
45往来款半年以内上海日立电器有限公司员工15,248,236.
58员工住房补贴及购车款1年以内浙江绍兴市虹太电器厂8,650,000.
00出售固定资产应收款半年以内上海东兴置业有限公司4,480,641.
62往来款1至2年上海联宁房地产开发建设有限公司3,710,000.
00往来款1至2年本项目期末余额中欠款金额前五名的欠款金额合计为50,448,829.
65元,占其他应收款总额的比例为88.
80%.
6、预付货款:期末数年初数帐龄金额占总额比例(%)金额占总额比例(%)1年以内5,028,350.
32100.
007,556,657.
1699.
811-2年-14,302.
510.
192-3年---3年以上---合计5,028,350.
32100.
007,570,959.
67100.
00本帐户年末余额中无持本公司5%(含5%)以上表决权股份的股东单位的欠款.
7、存货:存货跌价准备期末数年初数年初数本期计提本期转回期末数产成品131,707,854.
93262,157,885.
8748,575,552.
6228,076,773.
1820,498,779.
44原材料130,453,465.
15113,775,784.
0316,253,609.
645,473,291.
0010,780,318.
64开发成本31,143,648.
3288,535,051.
259,212,600.
009,212,600.
000.
00低值易耗品19,322,394.
4022,349,317.
95---在产品26,881,100.
7817,855,626.
88903,338.
20810,889.
6092,448.
60委托加工材料1,183,314.
941,025,601.
18---物料用品138,851.
19109,039.
08---开发产品合计340,830,629.
71505,808,306.
2474,945,100.
4643,573,553.
7831,371,546.
68其中开发成本明细如下:海立股份2003年半年度报告16项目名称开工时间预计竣工时间预计总投资期末余额年初余额海立华亭公寓2003年10月2004年12月16,800万元31,143,648.
32元-本公司上述存货期末余额中所包含的存货项目的取得方式有:外购、自制及委托加工等.
原开发建设的金旋大厦已于2003年5月实施整体转让.
8、待摊费用:费用类别期末数年初数年末余额结存原因财产保险费0.
00316,379.
339、长期投资:(1)明细项目如下:金额减值准备项目年初数本期增加本期减少期末数年初数本期计提本期转回期末数一、长期股权投资(权益法)112,539,214.
049,291,096.
4315,918,025.
20105,912,285.
27其中:对子公司投资-3,466,368.
624,011,862.
735,957,180.
96-5,411,686.
85对联营企业投资116,005,582.
665,279,233.
709,960,844.
24111,333,972.
12二、长期股权投资(成本法)18,473,216.
5518,473,216.
551,107,967.
401,107,967.
40其中:股票投资18,285,216.
5518,285,216.
551,019,967.
401,019,967.
40其他长期股权投资188,000.
00188,000.
0088,000.
0088,000.
00合计131,012,430.
599,291,096.
4315,918,025.
20124,385,501.
821,107,967.
401,107,967.
40(2)长期股权投资(权益法)①长期股权投资(权益法):损益调整额投资准备被投资公司名称(1)与母公司关系(2)投资期限(3)占被投资公司注册资本的比例(4)初始投资额(5)累计追加投资额(6)本期增减额(7)分得现金红利额(8)累计增减额(9)本期增加额(10)累计增加额(11)期末余额(12)=(5)+(6)+(9)+(11)①上海扎努西电气机械有限公司联营公司50年35%79,690,078.
30-3,989,786.
24-37,570,181.
8842,119,896.
42②上海海立铸造有限公司子公司18年80%6,160,000.
0013,600,000.
002,117,683.
142,387,146.
665,314,702.
381,241,560.
7226,316,263.
10③上海海立特种制冷设备有限公司子公司20年60.
42%1,450,000.
000.
00702,499.
43216,388.
61986,170.
692,436,170.
69④上海求精实业公司子公司10年100%2,000,000.
000.
00-2,000,000.
00-⑤上海海立中野冷机有限公司联营公司43%70,949,674.
920.
005,226,544.
965,971,058.
00-744,513.
0470,205,161.
88⑥上海海韵人造花有限公司子公司10年100%800,000.
000.
006,040.
7029,691.
29829691.
29小计161,049,753.
2213,600,000.
004,062,999.
998,574,563.
27-33,984,130.
561,241,560.
72141,907,183.
38公司本年度未发生被投资单位可收回金额低于长期股权投资帐面价值的事项,故未计提长期投资减值准备.
投资变现不存在重大限制.
②股权投资差额:被投资单位名称股权投资差额初始金额形成原因摊销期限本期摊销额摊余金额⑴上海日立电器有限公司36,940,777.
70注110年1,847,038.
9020,188,902.
38海立股份2003年半年度报告17⑵上海森林电器有限公司-64,920,840.
37注210年--55,182,714.
31⑶上海海立中野冷机有限公司-1,053,774.
92投资额与净资产对应份额的差额10年-52,688.
74-1,001,086.
18小计-29,033,837.
591,794,350.
16-35,994,898.
11注1:包括初始投资时汇兑差额(人民币29,300,308.
24元),及②2002年收购国投机轻有限公司在上海日立电器有限公司的8%股权时,所支付的价款与购买日上海日立电器有限公司所有者权益中公司所占8%份额的差额(人民币7,640,469.
46元),计入本科目.
注2:包括2001年1月收购日本三菱电机株式会社在上海森林电器有限公司的50%股权时,所支付的价款与购买日上海森林电器有限公司所有者权益中公司所占50%份额的差额(人民币-71,811,459.
33元),及②因会计政策变更追溯调减公司下属子公司上海森林电器有限公司以前年度净资产,致使公司重新确认中的股权投资差额所形成的补记差额(人民币6,890,618.
96元),计入本科目.
(3)长期股权投资(成本法):①股票投资:股票投资:被投资公司名称股份类别股票数量占被投资公司注册资本的比例(%)初始投资成本长期投资减值准备年初余额长期投资减值准备本期计提长期投资减值准备期末余额上海丰华圆珠笔股份有限公司法人股475,200小于5%1,650,000.
00长江经济联合发展有限公司法人股2,000,000小于5%2,694,162.
00福州大通机电股份有限公司法人股332,800小于5%295,454.
55上海新锦江大酒店股份有限公司法人股1,881,792小于5%4,622,000.
00上海第一食品商店股份有限公司法人股1,443,227小于5%1,640,000.
00上海轮胎橡胶(集团)股份有限公司法人股71,500小于5%340,000.
00253,485.
00253,485.
00上海嘉宝实业(集团)股份有限公司法人股74,880小于5%182,000.
0079,414.
4079,414.
40上海原水股份有限公司法人股220,000小于5%600,000.
000.
000.
00上海沪昌特殊钢铁股份有限公司法人股198,000小于5%554,400.
00207,900.
00207,900.
00上海华联商厦股份有限公司法人股1,760,912小于5%4,547,200.
000.
000.
00上海三毛纺织股份有限公司法人股147,840小于5%440,000.
00130,768.
00130,768.
00上海棱光实业股份有限公司法人股136,620小于5%110,000.
00110,000.
00110,000.
00上海电器股份有限公司法人股120,000小于5%440,000.
00238,400.
00238,400.
00上海三爱富新材料股份有限公司法人股131,976小于5%170,000.
00小计18,285,216.
551,019,967.
401,019,967.
40②其他长期股权投资(成本法):被投资公司名称投资期限投资金额占被投资单位注册资本的比例①二轻销售公司24年100,000.
000.
36%②上海联森实业有限公司10年88,000.
0010%小计188,000.
00被投资公司名称减值准备年初余额减值准备本期计提额减值准备本期转回额减值准备期末余额减值准备计提原因上海联森实业有限公司88,000.
000.
000.
0088,000.
00预计无法收回且在可预计的未来期间内不可能恢复累计投资期末余额占期末净资产的比例为15.
74%.
海立股份2003年半年度报告1810、固定资产及累计折旧:固定资产分类年初数本期增加本期减少期末数备注(1)固定资产原值房屋建筑物371,241,042.
52856,309.
751,979,749.
20370,117,603.
07机器设备2,101,859,618.
54191,742,844.
0321,127,885.
792,272,474,576.
78运输设备37,201,685.
532,220,221.
682,143,569.
3337,278,337.
88办公设备7,392,267.
71269,821.
12601,516.
807,060,572.
03其他163,605,620.
1418,372,734.
91670,619.
42181,307,735.
63合计2,681,300,234.
44213,461,931.
4926,523,340.
542,868,238,825.
39(2)累计折旧房屋建筑物105,004,759.
799,130,914.
089,732.
25114,125,941.
62机器设备925,754,635.
81124,581,159.
098,794,633.
381,041,541,161.
52运输设备22,206,770.
192,182,586.
681,921,966.
2922,467,390.
58办公设备5,815,912.
92380,283.
52793,483.
325,402,713.
12其他87,349,614.
4912,458,472.
73241,621.
5099,566,465.
72合计1,146,131,693.
20148,733,416.
1011,761,436.
741,283,103,672.
56(3)净值房屋建筑物266,236,282.
73255,991,661.
45机器设备1,176,104,982.
731,230,933,415.
26运输设备14,994,915.
3414,810,947.
30办公设备1,576,354.
791,657,858.
91其他76,256,005.
6581,741,269.
91合计1,535,168,541.
241,585,135,152.
83(4)固定资产减值准备计提原因房屋建筑物---机器设备23,307,613.
684,655,602.
4618,652,011.
22运输设备---办公设备132,806.
17-132,806.
17其他9,616,415.
82-9,616,415.
82合计33,056,835.
674,655,602.
4628,401,233.
21(5)固定资产净额房屋建筑物266,236,282.
73255,991,661.
45机器设备1,152,797,369.
051,212,281,404.
04运输设备14,994,915.
3414,810,947.
30办公设备1,443,548.
621,525,052.
74其他66,639,589.
8372,124,854.
09合计1,502,111,705.
571,556,733,919.
62(6)固定资产及累计折旧本期增减变动原因分析①固定资产原值:年初余额2,681,300,234.
44本期增加:外购18,559,715.
21自行建造(在建工程转入)194,902,216.
28其他(盘盈)海立股份2003年半年度报告19本期增加小计213,461,931.
49本期减少:报废和出售26,523,340.
54本期减少小计26,523,340.
54期末余额2,868,238,825.
39②累计折旧:年初余额1,146,131,693.
20本期增加:计提148,733,416.
1本期增加小计148,733,416.
1本期减少:报废和出售11,761,436.
74本期减少小计11,761,436.
74期末余额1,283,103,672.
56(7)期末固定资产的帐面价值中,暂时闲置的固定资产为34,833,968.
26元;已提足折旧仍继续使用的固定资产为55,288,578.
73元;无已退废和准备处置的固定资产.
其中公司的下属子公司上海森林电器有限公司以价值18,583.
53万元的建筑物及土地使用权作抵押,获得贷款8,400万元.
11、在建工程:年初数本期增加本期转入固定资产其他减少工程名称金额其中:借款费用资本化数金额其中:借款费用资本化数金额其中:借款费用资本化数金额其中:借款费用资本化数SL/TL工程一期231,287,959.
755,573,679.
83191,317,898.
793,107,610.
35森林电器二期工程28,396,215.
90-2,202,850.
354,475,913.
0035KV变电站4,683,126.
715,910.
79--3,636,185.
00求精住宅办813,932.
16--KH增产工程137,174.
39-133,441.
39KU/MU项目-4,913,447.
33-其他1,348,025.
75684,582.
641,248,025.
75合计266,666,434.
6611,177,620.
59194,902,216.
2811,219,708.
35期末数金额其中:借款费用资本化数预算数资金来源资本化率(%)工程投入占预算的比例(%)SL/TL工程一期42,436,130.
44USD2,750万美元自筹99.
65森林电器二期工程21,717,452.
55USD2,850万元自筹9035KV变电站1,052,852.
501,328万元自筹90求精住宅办813,932.
16-自筹KH增产工程3,733.
006,028万元自筹KU/MU项目4,913,447.
33自筹其他784,582.
64自筹合计71,722,130.
62在建工程减值准备:工程名称年初余额本期计提本期转回期末数计提原因①求精住宅办360,000.
00--360,000.
00成本价高于市价②森林电器二期工程21,056,701.
65--21,056,701.
65产品转型不适用合计21,416,701.
6521,416,701.
65海立股份2003年半年度报告2012、无形资产:类别取得方式原始金额年初数本期增加额本期摊销额累计摊销额本期转出期末数剩余摊销年限①场地使用权购入170,175,120.
90146,934,375.
73-1,679,913.
1824,920,658.
35-145,254,462.
5540.
25年②工业产权及专有技术购入12,716,804.
502,096,604.
951,191,347.
51802,767.
8911,422,967.
44-2,485,184.
572.
5年合计182,891,925.
40149,030,980.
681,191,347.
512,482,681.
0736,343,625.
79-147,739,647.
12本期未计提无形资产减值准备.
13、长期待摊费用:类别原始发生额年初数本期增加本期摊销额累计摊销额本期转出期末数剩余摊销年限35KV电缆费--3,636,185.
00363,600.
00363,600.
00-3,272,585.
0054个月模具38,984,172.
1615,332,100.
0213,555,942.
366,675,405.
6530,327,477.
79-22,212,636.
7317个月水电征容费12,633,207.
955,637,207.
950.
00636,000.
007,632,000.
00-5,001,207.
9548个月合计51,617,380.
1120,969,307.
9717,192,127.
367,675,005.
6538,323,077.
79-30,486,429.
6814、短期借款:借款类别期末数年初数币种原币金额汇率折人民币折人民币信用人民币450,000,000.
00607,250,000.
00美元7,000,000.
008.
277457,941,800.
0046,352,880.
00抵押人民币84,000,000.
00130,000,000.
00保证人民币49,000,000.
00169,000,000.
00美元5,600,000.
008.
277446,353,440.
00合计12,600,000.
00687,295,240.
00952,602,880.
0015、应付票据:票据种类期末数年初数银行承兑汇票60,332,000.
0019,112,710.
22商业承兑汇票457,985,328.
8968,699,997.
00合计518,317,328.
8987,812,707.
22上述期末余额均将于年内到期.
其中无应付给持本公司5%(含5%)以上表决权股份的股东的票据.
16、应付帐款:本项目期末余额中无应付给持本公司5%(含5%)以上表决权股份的股东单位的款项.
无帐龄超过3年的大额应付帐款17、预收货款:海立股份2003年半年度报告21本项目年末余额中无预收持本公司5%(含5%)以上表决权股份的股东单位的款项.
无帐龄超过1年的预收帐款.
18、应付股利:主要投资者期末数年初数社会公众股国家股法人股1,610,910.
051,699,518.
05合计1,610,910.
051,699,518.
0519、应交税金:税种期末欠(溢)交额年初欠(溢)交额增值税10,182,028.
4215,322,999.
52营业税-188,489.
7348,095.
88消费税--城建税710.
38710.
38所得税4,731,646.
972,296,442.
41房产税--个调税448,468.
36130,442.
80其他--合计15,174,364.
4017,798,690.
9920、其他应交款:费种期末欠(溢)交额年初欠(溢)交额教育费附加304.
45304.
45河道管理费157.
29157.
29义优金提防费合计461.
74461.
7421、其他应付款:本项目期末余额中无应付给持本公司5%(含5%)以上表决权股份的股东单位的款项.
无帐龄超过3年的大额应付帐款.
期末余额中金额较大的明细项目的说明:债权人名称期末余额性质或内容国投机轻有限公司30,000,000.
00未付股权受让款余额质量风险准备金21,320,667.
94产品质量基金株式会社日立制作所28,606,593.
36商标提成费上海森林电器有限公司员工3,860,519.
00职工住房补贴海立股份2003年半年度报告2222、预提费用:费用类别期末数年初数结存原因短期借款利息763,331.
411,603,327.
29属应付未付费用动力、加工费3,375,000.
00-属应付未付费用合计4,138,331.
411,603,327.
2923、一年内到期的长期负债:一年内到期的长期借款借款类别币种期末数年初数保证人民币134,000,000.
00140,000,000.
00信用人民币0.
000.
00合计134,000,000.
00140,000,000.
0024、长期借款:借款类别币种期末数年初数保证人民币112,300,000.
00151,395,991.
50信用合计112,300,000.
00151,395,991.
5025、其他长期负债:类别期末数年初数待转销汇兑收益61,228,220.
9061,228,220.
9026、股本:期末数年初数一、尚未上市流通股份1.
发起人股份其中:国家拥有股份120,000,000.
00120,000,000.
002.
募集法人股份60,840,000.
0060,840,000.
00未上市流通股份合计180,840,000.
00180,840,000.
00二、已上市流通股份1.
人民币普通股20,280,000.
0020,280,000.
002.
境内上市的外资股179,400,000.
00179,400,000.
00已上市流通股份合计199,680,000.
00199,680,000.
00三、股份总数380,520.
000.
00380,520.
000.
00海立股份2003年半年度报告2327、资本公积:项目年初数本期增加本期减少期末数股本溢价311,101,921.
10--311,101,921.
10其他资本公积57,490,488.
2427,880,000.
00-85,370,488.
24合计368,592,409.
3427,880,000.
00-396,472,409.
34资本公积-其他资本公积的本期增加27,880,000元是本期收到由国家经贸委、国家计委、财政部联合下发的国经贸投资[2000]931号批准由上海市财政局下拨的国债专项资金项目投资补助金.
28、盈余公积:项目年初数本期增加数本期减少数期末数法定盈余公积141,071,129.
1911,520,248.
42-152,591,377.
61公益金60,521,968.
65--60,521,968.
65任意盈余公积22,814,278.
8311,520,248.
42-34,334,527.
25小计224,407,376.
6723,040,496.
84-247,447,873.
51上述法定盈余公积是合并报表范围内子公司提取的储备基金,任意盈余公积是合并报表范围内子公司提取的企业发展基金.
29、未分配利润:2003年上半年度(1)年初未分配利润额15,667,994.
58(2)加:当年度合并净利润33,060,852.
48(3)盈余公积转入数(4)减:提取法定盈余公积金11,520,248.
42(5)提取法定公益金(6)提取任意盈余公积11,520,248.
42(7)外商投资子公司提取的奖福基金7,680,165.
62(8)减:分配(预分)当年度股利(9)减:转作股本的普通股股利(10)年末未分配利润余额18,008,184.
602002年利润实际分配情况:根据2002年度股东大会决议,按2002年度税后利润分别提取10%法定盈余公积和10%公益金后,不提取任意盈余公积,也不派发现金红利.
30、主营业务收入和主营业务成本:①行业分部报表行业种类营业收入营业成本营业毛利本期数上年同期数本期数上年同期数本期数上年同期数制造业1,592,344,372.
021,626,800,171.
5694,429,144.
591,245,435,129.
42190,029,681.
63381,365,042.
14房地产业87,950,000.
00441,743.
441,402,314,690.
39209,203.
90-6,479,144.
59232,539.
54小计1,680,294,372.
021,627,241,915.
001,496,743,834.
981,245,644,333.
32183,550,537.
04381,597,581.
68海立股份2003年半年度报告24减:公司内各业务分部间互相抵减30,864,295.
5310,897,207.
3530,864,295.
5310,897,207.
35合计1,649,430,076.
491,616,344,707.
651,465,879,539.
451,234,747,125.
97183,550,537.
04381,597,581.
68地区分部报表营业收入营业成本营业毛利地区本期数上年同期数本期数上年同期数本期数上年同期数华北282,175,179.
69467,355,823.
54257,769,895.
76351,382,854.
6324,405,283.
93115,972,968.
91华南568,217,363.
55501,330,989.
72481,238,760.
37369,626,118.
9686,978,603.
18131,704,870.
76华东621,825,277.
58554,592,281.
02571,650,088.
65447,933,694.
1450,175,188.
93106,658,586.
88外销166,549,470.
05103,962,820.
72145,490,449.
7376,701,665.
5921,059,020.
3227,261,155.
13…其他41,527,081.
15-40,594,640.
47-932,440.
68-小计1,680,294,372.
021,627,241,915.
001,496,743,834.
981,245,644,333.
32183,550,537.
04381,597,581.
68减:公司内各业务分部间互相抵减30,864,295.
5310,897,207.
3530,864,295.
5310,897,207.
35合计1,649,430,076.
491,616,344,707.
651,465,879,539.
451,234,747,125.
97183,550,537.
04381,597,581.
68本期公司向前五名客户的收入总额为524,920,982.
73元,占公司全部销售收入比例的31.
82%.
31、其他业务利润:业务种类本期数上年同期数备注收入成本收入成本租赁2,763,479.
991,101,352.
152,348,542.
331,271,025.
14废料及边料出售15,470,417.
965,805,920.
635,600,804.
3015,288,404.
92代加工1,447,846.
501,644,582.
8713,589,171.
8111,020,222.
20其他703,227.
84114,146.
922,065,820.
6622,000.
00合计20,384,972.
298,660,002.
5723,604,339.
1027,601,652.
2632、财务费用费用项目本期数上年同期数①利息支出36,942,697.
4039,015,293.
11减:利息收入615,227.
82991,624.
21②汇兑损失3,426,587.
006,736,573.
21减:汇兑收益3,331,382.
620.
00③其他878,320.
10815,569.
63合计37,300,994.
0645,575,811.
7433、主营业务税金及附加:税费种类本期数上年同期数营业税4,397,500.
0022,077.
18城市维护建设税307,825.
001,546.
10海立股份2003年半年度报告25消费税--教育费附加131,925.
00662.
63其他10.
00合计4,837,250.
0024,295.
9134、投资收益:本期数上年同期数股票投资收益211,309.
44376,059.
60在按权益法核算的被投资公司的净损益中所占的份额3,741,984.
664,270,104.
49股权投资差额摊销-1,794,350.
161,632,545.
07股权投资转让损益--长期投资减值准备--其他投资收益--137,813.
57合计2,158,943.
946,140,895.
59投资收益的汇回不存在重大限制.
35、营业外支出业务种类本期数上年同期数①固定资产减值准备-4,655,602.
46-98,757.
36②在建工程减值准备0.
00-100,000.
00③捐款500,000.
000.
00④固定资产清理246,882.
11213,887.
28⑤其他58,313.
00554,879.
44合计-3,850,407.
35570,009.
36公司于2003年4月转让了已计提减值准备的生产设备,未收回的部分设备款转入其他应收款,原已计提的减值准备4,655,602.
46元冲减营业外支出.
36、收到的其他与经营活动有关的现金:其中价值较大的项目情况如下:项目名称本期发生额上海上立实业发展合作公司往来款10,000,000.
00上海工业技术发展基金会往来款4,500,000.
00上海联宁房地产开发建设有限公司往来款2,600,000.
0037、支付的其他与经营活动有关的现金:其中价值较大的项目情况如下:海立股份2003年半年度报告26项目名称本期发生额上海上立实业发展合作公司往来款10,000,000.
00贴现利息及手续费7,790,680.
90员工就餐费1,469,182.
43运输费1,037,328.
3138、收到的其他与投资活动有关的现金:其中价值较大的项目情况如下:项目名称本期发生额国债专项资金补助收入27,880,000.
0039、收到的其他与筹资活动有关的现金:其中价值较大的项目情况如下:项目名称本期发生额商业承兑汇票贴现收到的款项130,000,000.
00(六)、母公司财务报表主要项目附注1、应收帐款:期末数年初数帐龄金额占应收帐款总额比例(%)坏帐准备计提比例(%)坏帐准备金额占应收帐款总额比例(%)坏帐准备计提比例(%)坏帐准备6个月以内1,912,118.
9560.
111,269,638.
6643.
256个月-1年303,900.
009.
553.
9512,000.
00600,000.
0020.
442.
0012,000.
001-2年2-3年3年-5年74,400.
002.
5370.
0052,080.
005年以上964,969.
8730.
3483.
25803,383.
06991,455.
7733.
7895.
00941,882.
98合计3,180,988.
82100.
0025.
63815,383.
062,935,494.
43100.
0034.
271,005,962.
98本项目期末余额中欠款金额前五名的欠款金额合计为2,791,295.
67元,占应收帐款总额的比例为87.
75%.
2、其他应收款:期末数年初数帐龄金额占其他应收款总额比例(%)坏帐准备计提比例(%)坏帐准备金额占其他应收款总额比例(%)坏帐准备计提比例(%)坏帐准备1年以内34,579,810.
6090.
3613.
594,698,689.
088,563,082.
889.
740.
5043,086.
621-2年1,075,383.
792.
81438,584.
000.
502-3年3-5年2,251,950.
076.
7786.
052,229,902.
072,591,502.
072.
9486.
052,229,902.
075年以上21,68.
000.
06100.
0021,688.
0076,351,419.
1386.
820.
43331,977.
76合计38,268,384.
46100.
0018.
166,950,279.
1587,944,588.
08100.
002.
962,604,966.
45海立股份2003年半年度报告27其他应收款期末余额中金额较大的债务人情况:债务人名称期末欠款余额性质或内容欠款时间(帐龄)上海金旋房地产开发经营公司23,000,000.
00暂借款1年以下浙江绍兴市虹太电器厂8,650,000.
00出售固定资产应收款上海求精实业公司2,231,856.
00暂借款3-5年2,229,902.
07元,1年以内1,953.
93元上海海立特种制冷设备有限公司1,244,034.
67往来款1年以下增发费用1,075,383.
79暂借款1年以内636,799.
79元,1-2年438,584.
00元本项目期末余额中欠款金额前五名的欠款金额合计为36,201,274.
46元,占其他应收款总额的比例为94.
607%.
3、长期投资:明细项目如下:金额减值准备项目年初数本期增加本期减少期末数年初数本期计提本期转回期末数一、长期股权投资(权益法)1,219,839,300.
81112,165,384.
52109,226,299.
071,222,778,386.
26其中:对子公司投资1,103,833,718.
15106,886,150.
8299,265,454.
831,111,454,414.
14对联营企业投资116,005,582.
665,279,233.
709,960,844.
24111,323,972.
12二、长期股权投资(成本法)18,385,216.
5518,385,216.
551,019,967.
401,019,967.
40其中:股票投资18,285,216.
5518,285,216.
551,019,967.
401,019,967.
40其他长期股权投资100,000.
00100,000.
00合计1,238,224,517.
36112,165,384.
52109,226,299.
071,241,163,602.
811,019,967.
401,019,967.
40长期股权投资(权益法):损益调整额投资准备期末余额被投资公司名称(1)与母公司关系(2)投资期限(3)占被投资公司注册资本的比例(4)初始投资额(5)累计追加投资额(6)本期增减额(7)分得现金红利额(8)累计增减额(9)本期增加额(10)累计增加额(11)(12)=(5)+(6)+(9)+(11)①上海日立电器有限公司子公司不约定75%641,822,523.
70254,214,734.
5443,785,096.
6686,400,000.
00157,214,699.
691,053,251,957.
93②上海森林电器有限公司子公司不约定69%336,992,845.
47-281,895,099.
6484,968.
4855,182,714.
21③上海金旋房地产开发经营有限公司子公司不约定100%17,300,000.
00-2,654,786.
44-8,868,571.
258,431,428.
75④上海扎努西电气机械有限公司联营公司50年35%79,690,078.
30-3,989,786.
24-37,570,181.
8842,119,896.
42⑤上海海立铸造有限公司子公司18年80%6,160,000.
0013,600,000.
002,117,683.
142,387,146.
6653,314,702.
381,241,560.
7226,316,263.
10⑥上海海立特种制冷设备有限公司子公司20年60.
42%1,450,000.
00702,499.
43216,358.
61986,170.
692,436,170.
69⑦上海求精实业公司子公司10年100%2,000,000.
00-2,000,000.
000.
00⑧上海海立中野冷机有限公司联营公司43%70,949,674.
925,226,544.
965,971,058.
00-744,513.
0470,205,161.
88⑨上海海韵人造花有限公司子公司10年80%800,000.
006,040.
729,691.
29829,691.
29小计1,157,165,122.
39267,814,734.
5445,193,310.
2194,974,563.
27-167,533,101.
761,326,529.
201,258,773,284.
37②股权投资差额:被投资单位名称股权投资差额初始金额形成原因摊销期限本期摊销额摊余金额⑴上海日立电器有限公司36,940,777.
70注110年1,847,038.
9020,188,902.
38⑵上海森林电器有限公司-64,920,840.
37注210年-55,182,714.
31⑶上海海立中野冷机有限公司-1,053,774.
92投资额与净资产对应份额的差额10年-52,688.
74-1,001,086.
18小计-29,033,837.
591,794,350.
16-35,994,898.
11海立股份2003年半年度报告28注1:包括初始投资时汇兑差额(人民币29,300,308.
24元),及②本期收购国投机轻有限公司在上海日立电器有限公司的8%股权时,所支付的价款与购买日上海日立电器有限公司所有者权益中公司所占8%份额的差额(人民币7,640,469.
46元)计入本科目.
注2:包括2001年1月收购日本三菱电机株式会社在上海森林电器有限公司的50%股权时,所支付的价款与购买日上海森林电器有限公司所有者权益中公司所占50%份额的差额(人民币-71,811,459.
33元),及②因会计政策变更追溯调减公司下属子公司上海森林电器有限公司以前年度净资产,致使公司重新确认中的股权投资差额所形成的补记差额(人民币6,890,618.
96元),计入本科目.
(3)长期股权投资(成本法):①股票投资:被投资公司名称股份类别股票数量占被投资公司注册资本的比例初始投资成本长期投资减值准备年初余额长期投资减值准备本期计提长期投资减值准备期末余额上海丰华圆珠笔股份有限公司法人股475,200小于5%1,650,000.
00长江经济联合发展有限公司法人股2,000,000小于5%2,694,162.
00福州大通机电股份有限公司法人股332,800小于5%295,454.
55上海新锦江大酒店股份有限公司法人股1,881,792小于5%4,622,000.
00上海第一食品商店股份有限公司法人股1,443,227小于5%1,640,000.
00上海轮胎橡胶(集团)股份有限公司法人股71,500小于5%340,000.
00253,485.
00253,485.
00上海嘉宝实业(集团)股份有限公司法人股74,880小于5%182,000.
0079,414.
4079,414.
4上海原水股份有限公司法人股220,000小于5%600,000.
00上海沪昌特殊钢铁股份有限公司法人股198,000小于5%554,400.
00207,900.
00207,900.
00上海华联商厦股份有限公司法人股1,760,912小于5%4,547,200.
00上海三毛纺织股份有限公司法人股147,840小于5%440,000.
00130,768.
00130,768.
00上海棱光实业股份有限公司法人股136,620小于5%110,000.
00110,000.
00110,000.
00上海电器股份有限公司法人股120,000小于5%440,000.
00238,400.
00238,400.
00上海三爱富新材料股份有限公司法人股131,976小于5%170,000.
00小计18,285,216.
551,019,967.
401,019,967.
40②其他长期股权投资(成本法):被投资公司名称投资期限投资金额占被投资单位注册资本的比例(%)二轻销售公司24年100,000.
000.
36小计100,000.
00投资变现不存在重大限制.
累计投资年末数占期末净资产的比例为:127.
83%.
4、投资收益:本期数上年同期数股票投资收益211,309.
44376,059.
60在按权益法核算的被投资公司的净损益中所占的份额43,852,327.
48105,720,807.
59股权投资差额摊销-1,794,350.
161,632,545.
07股权投资转让损益长期投资减值准备1,019,967.
40其他投资收益-137,813.
37合计43,289,254.
16107,591,598.
89海立股份2003年半年度报告29投资收益的汇回不存在重大限制.
(七)、子公司与母公司会计政策不一致对合并财务报表的影响子公司在合并报表时已按母公司会计政策进行调整一致.
(八)、关联方交易的披露1、存在控制关系的关联方情况①存在控制关系的关联方情况企业名称注册地址主营业务与本企业关系经济性质或类型法定代表人上海轻工控股集团公司中国上海市国资委授权范围内的国有资产经营与管理、实业投资、国内贸易(除专项规定)母公司国有企业(非公司法人)张立平上海日立电器有限公司中国上海生产房间用空调压缩机及其他家电产品,销售自产产品子公司有限责任公司顾惠龙上海森林电器有限公司中国上海开发制造制冷压缩机及相关产品,销售自产产品子公司有限责任公司朱蜀东上海金旋房地产开发经营公司中国上海房地产经营、开发、房地产咨询等子公司全资子公司邵一本上海求精实业公司中国上海建材、家电等子公司全资子公司冯家伟上海海韵人造花有限公司中国上海塑料花、涤纶花、塑料制品子公司有限责任公司胡伟建上海海立铸造有限公司中国上海铸造件、五金加工、热处理、机械加工子公司有限责任公司冯家伟上海海立特种制冷设备有限公司中国上海制冷、温度调节控制设备及相关产品的制造、安装等子公司有限责任公司沈建芳上海海立置业有限公司中国上海房地产开发、经营、物业管理,室内装潢,建筑材料,金属材料,通讯器材,批发零售子公司有限责任公司姚恒新②存在控制关系的关联方的注册资本及其变化情况企业名称年初数本期增加数本期减少数期末数上海轻工控股集团公司人民币365,330万人民币365,330万上海日立电器有限公司USD14,575万USD1,329万USD15,904万上海森林电器有限公司USD6,000万USD6,000万上海金旋房地产开发经营公司1,730万1,730万上海求精实业公司200万200万上海海韵人造花有限公司100万100万上海海立铸造有限公司2,470万2,470万上海海立特种制冷设备有限公司240万240万上海海立置业有限公司-1,000万1,000万③存在控制关系的关联方所持股份或权益及其变化情况年初数本期增加本期减少期末数企业名称金额%金额%金额%金额%上海日立电器有限公司USD10,421.
25万75USD661.
5万75USD11,082.
75万75上海森林电器有限公司USD4,140万69USD4,140万69上海金旋房地产开发经营公司1,730万1001,730万100上海求精实业公司200万100200万100上海海立铸造有限公司1,976万801,976万80上海海立特种制冷设备有限公司145万60.
42145万60.
42上海海韵人造花有限公司80万8080万80上海海立置业有限公司--800万80800万80海立股份2003年半年度报告302、不存在控制关系的关联方情况企业名称与本企业的关系上海海立中野冷机有限公司联营企业上海扎努西电气机械有限公司联营企业3、关联方交易①采购货物公司2003年上半年度及2002年上半年度向关联方采购货物的有关明细资料如下(单位:元):2003年1-6月2002年1-6月企业名称金额占年度购货百分比(%)计价标准企业名称金额占年度购货百分比(%)计价标准上海海立铸造有限公司52,132,131.
245.
05市价上海海立铸造有限公司28,160,178.
113.
89市价公司向关联方采购货物的价格由市场价格决定.
2003年上半年度及2002年上半年度公司向关联方采购货物的价格与非关联方的交易价格相一致,由市场价格决定.
其中,关联方交易金额超过3,000万元的交易情况如下:2003年1~6月关联方名称交易内容交易价格交易金额占同类交易金额的比例(%)定价原则结算方式对公司利润的影响市场参考价格上海海立铸造有限公司铸造件、机械加工-52,132,131.
2483.
34市场价现金―-2002年1~6月关联方名称交易内容交易价格交易金额占同类交易金额的比例(%)定价原则结算方式对公司利润的影响市场参考价格上海海立铸造有限公司铸造件、机械加工-28,160,178.
1171.
84市场价现金--②销售货物公司2003年上半年度及2002年上半年度向关联方销售货物有关明细资料如下(单位:元):2003年1-6月2002年1-6月企业名称金额占年度销货百分比(%)计价标准企业名称金额占年度销货百分比(%)计价标准上海特种制冷设备有限公司708,628.
210.
04市价----③公司与关联方应收应付款项余额2003年上半年度及2002年上半年度关联方应收应付款项(单位:元):期末余额(金额)占全部应收(付)款项余额的比重(%)项目2003年6月2002年6月2003年6月2002年6月应收票据应收帐款上海海立特种制冷设备有限公司386,975.
00211,680.
000.
040.
02上海海韵人造花有限公司4,857.
070.
00应付票据上海海立铸造有限公司3,018,000.
000.
58应付帐款上海海立铸造有限公司23,809,153.
275,934,240.
235.
131.
52海立股份2003年半年度报告31④公司与关联方其他应收款、其他应付款余额2003年上半年和2002年上半年与关联方其他应收款和其他应付款余额(单位:元):项目期末余额(金额)占全部其他应收(付)款金额的比重(%)计息标准2003年6月2002年6月2003年6月2002年6月2003年6月2002年6月其他应收款上海海立铸造有限公司63,373.
97220,049.
340.
130.
69人行同期利率上海海立特种制冷设备有限公司1,244,034.
672,237,907.
242.
586.
97-上海求精实业有限公司2,231,856.
002,403,838.
994.
637.
49-上海联宁房地产开发有限公司7,500,000.
0023.
37其他应付款根据公司与下属各子公司和联营企业签订的协议,公司给各子公司和联营企业提供资金,按季计息,利率参照中国人民银行公布的同期利率执行,遇利率变动的一年调整一次.
公司本期向关联方收取利息款项为:企业名称2003年上半年发生数2002年上半年发生数上海海立铸造有限公司-79,959.
63上海扎努西电气机械有限公司-20,556.
25⑤其他应披露事项a公司为以下公司的银行借款提供担保:企业名称本期发生数上年同期发生数上海海立铸造有限公司26,000,000.
0016,000,000.
00上海扎努西电气机械有限公司151,750,000.
00144,750,000.
00上海海立特种制冷设备有限公司6,000,000.
003,000,000.
00b关键管理人员报酬:报告期内关键管理人员报酬总金额为人民币53.
63万元.
(九)、或有事项1、本期末为下述单位向金融机构借款提供信用担保,金额共计18,375万元.
企业名称本期末余额上年同期末余额上海海立铸造有限公司26,000,000.
0016,000,000.
00上海扎努西电气机械有限公司151,750,000.
00144,750,000.
00上海海立特种制冷设备有限公司6,000,000.
003,000,000.
00上海上菱电器股份有限公司-88,000,000.
00上海申达股份有限公司-79,900,000.
00上海三毛股份有限公司-50,000,000.
00上海工业技术发展基金会-9,000,000.
00合计183,750,000.
00390,650,000.
00海立股份2003年半年度报告322、已背书未到期、已贴现未到期银行承兑汇票、商业承兑汇票情况:2003年上半年发生数2002年上半年发生数已贴现未到期银行承兑汇票594,210,386.
92386,153,771.
00已背书未到期银行承兑汇票221,674,231.
6816,980,830.
00已贴现未到期商业承兑汇票15,945,495.
31-合计831,830,113.
91403,134,601.
00(十)、承诺事项无需披露的承诺事项(十一)、资产负债表日后事项无需披露的资产负债表日后事项中的非调整事项.
(十二)、其他重要事项无需披露的其他重要事项.
补充资料:一、利润表附表利润表附表净资产收益率(%)每股收益(元/股)报告期利润全面摊薄法加权平均法全面摊薄法加权平均法主营业务利润17.
14%17.
37%0.
4700.
470营业利润4.
92%4.
98%0.
1350.
135净利润3.
17%3.
21%0.
0870.
087扣除非经常性损益后的净利润2.
78%2.
81%0.
0760.
076二、变动异常的报表项目说明:1、货币资金期末比期初增长了74.
29%,主要是本期销售货款回笼率有所提高而现增加了货币资金.
2、应收票据期末比期初增长了115.
17%,主要是本期销售货款的结算方式增加了银行票据结算所致.
3、应收帐款期末比期初增长了61.
72%,主要是由于产品季节性特点,销售集中在上半年,货款收回有一定周期,产品赊销增加了应收帐款.
4、在建工程期末比期初减少了79.
49%,主要是子公司上海日立电器有限公司实施的SL/TL高效、节能系列空调压缩机扩产项目一期工程完工转入固定资产.
5、应付票据期末比期初增长了490.
25%,主要是本期增加了用银行、商业票据支付的原材料采购款.
6、应付帐款期末比期初增长了85.
38%,主要是本期产销量上升加大原材料采购及付款政策的调整,增加了应付帐款.
海立股份2003年半年度报告337、本期主营业务利润比上年同期下降了53.
16%,主要是由于2002年下半年以来空调压缩机市场价格急剧下降,而产品成本因原材料中钢材、铜材价格上涨而下降速度慢、幅度小,从而减少了产品毛利,导致主营业务利润减少.
8、本期其他业务利润比上年同期有较大增长,主要是本报告期因增加产销量而增加废(边角)料处置收入所致.
9、本期管理费用比上年同期下降了58.
90%,主要是本期收回以前年度应收帐款及销售上年度库存成品,本期冲回对应的已计提的坏帐准备及跌价准备,减少了当期管理费用.
10、本期利润总额、净利润分别比上年同期下降了67.
87%和69.
37%,主要是由于主营业务利润比上年同期下降所致.
11、本期所得税、少数股东权益分别比上年同期下降了39.
14%、75.
38%,主要是由于利润总额比上年同期下降所致.
三、资产减值准备明细表资产减值准备明细表2003年1—6月编制单位:上海海立(集团)股份有限公司单位:元项目行次年初余额本期增加数本期转回(减少)数年末余额一、坏账准备合计121,778,411.
27-253,581.
2221,524,830.
05其中:应收账款217,911,444.
82-4,598,893.
9213,312,550.
90其他应收款33,866,966.
454,655,602.
46310,289.
768,212,279.
15二、短期投资跌价准备合计4----其中:股票投资5-债券投资6-三、存货跌价准备合计774,945,100.
46-43,573,553.
7831,371,546.
68其中:库存商品848,575,552.
6228,076,773.
1820,498,779.
44原材料916,253,609.
64-5,473,291.
0010,780,318.
64四、长期投资减值准备合计10----其中:长期股权投资11-长期债券投资12-五、固定资产减值准备合计1333,056,835.
67-4,655,602.
4628,401,233.
21其中:房屋、建筑物14-机器设备1533,056,835.
674,655,602.
4628,401,233.
21六、无形资产减值准备16----其中:专利权17-商标权18-七、在建工程减值准备1921,416,701.
65--21,416,701.
65八、委托贷款减值准备20---海立股份2003年半年度报告34备查文件一、载有董事长签名的半年度报告文本;二、载有单位负责人、财务负责人、会计机构负责人签名并盖章的财务报告文本;三、报告期内在中国证监会指定报刊上公开披露过的所有文件文本;四、公司章程文本;五、在香港《南华早报》上披露的公司半年度报告文本;六、其他有关资料.
上海海立(集团)股份有限公司董事长:顾惠龙2003年8月12日股份有限公司二三年半年度会计报表资产负债表会股地年01表编制单位:2003年6月30日金额单位:元母公司合并母公司合并母公司合并母公司合并流动资产:流动负债:货币资金194,231,347.
09217,073,308.
4418,211,092.
50124,550,453.
72短期借款61254,000,000.
00687,295,240.
00264,000,000.
00952,602,880.
00短期投资2应付票据62518,317,328.
8987,812,707.
22应收票据3770,500.
00247,915,132.
17115,216,483.
60应付帐款63284,565.
02464,009,139.
221,331,605.
02250,297,588.
50应收股利42,985,529.
002,985,529.
0094,602.
4094,602.
40预收帐款6453,264,124.
95应收利息5应付工资6552,975,771.
4547,107,245.
45应收帐款62,365,605.
76864,016,245.
871,929,531.
45534,254,364.
63应付福利费667,121,888.
8663,125,220.
267,163,408.
8659,829,986.
33其他应收款731,318,105.
3148,600,895.
8085,339,621.
6328,636,054.
50应付股利671,610,910.
051,610,910.
051,699,518.
051,699,518.
05预付帐款85,028,350.
327,570,959.
67应交税金68-1,709,294.
0015,174,364.
40-1,863,448.
4317,798,690.
99应收补贴款9其他应交款69461.
74461.
74存货1044,469.
98309,459,083.
03430,863,205.
78其他应付款7032,478,148.
0791,914,467.
2360,903,721.
65124,015,710.
02待摊费用11316,379.
33预提费用714,138,331.
41348,117.
291,603,327.
29预计负债72一年内到期的长期债权投资21应付利息76,725.
00其他流动资产24一年内到期的长期负债78134,000,000.
00140,000,000.
00流动资产合计30131,715,557.
141,695,078,544.
63105,574,847.
981,241,502,503.
63其他流动负债79流动负债合计80293,786,218.
002,032,561,234.
65333,582,922.
441,736,108,965.
54长期投资:长期负债:长期股权投资311,240,143,635.
41123,277,534.
421,237,204,549.
96129,904,463.
19长期借款81112,300,000.
00151,395,991.
50长期债权投资32应付债券82长期投资合计331,240,143,635.
41123,277,534.
421,237,204,549.
96129,904,463.
19长期应付款83其中:合并价差(贷差以"-"号表示,合并报表填列)34-34,993,811.
93-33,146,773.
03专项应付款8435其他长期负债8561,228,220.
9061,228,220.
90固定资产:87173,528,220.
90212,624,212.
40固定资产原值3947,461,840.
322,868,238,825.
3968,591,256.
112,681,300,234.
44递延税项:减:累计折旧4016,096,772.
321,283,103,672.
5623,440,193.
271,146,131,693.
20递延税款贷项89固定资产净值4131,365,068.
001,585,135,152.
8345,151,062.
841,535,168,541.
24负债合计90293,786,218.
002,206,089,455.
55333,582,922.
441,948,733,177.
94减:固定资产减值准备423,451,701.
5628,401,233.
218,107,304.
0233,056,835.
67固定资产净额4327,913,366.
441,556,733,919.
6237,043,758.
821,502,111,705.
57少数股东权益(合并报表填列)91355,083,581.
44350,847,735.
52工程物资44在建工程45453,932.
1650,305,428.
97453,932.
16245,249,733.
01股东权益:固定资产清理46股本92380,520,000.
00380,520,000.
00380,520,000.
00380,520,000.
005028,367,298.
601,607,039,348.
5937,497,690.
981,747,361,438.
58资本公积93396,472,409.
34396,472,409.
34368,592,409.
34368,592,409.
34无形资产及其他资产:盈余公积94121,043,937.
30247,447,873.
51121,043,937.
30224,407,376.
67无形资产51147,739,647.
12149,030,980.
68其中:法定公益金9560,521,968.
6560,521,968.
6560,521,968.
6560,521,968.
65长期待摊费用5230,486,429.
6820,969,307.
97减:未确认的投资损失(合并报表填列)96其他长期资产53未分配利润97208,403,926.
5118,008,184.
60176,537,819.
8415,667,994.
58无形资产及其他资产合计54178,226,076.
80170,000,288.
65递延税项:外币报表折算差额(合并报表填列)98递延税款借项56991,106,440,273.
151,042,448,467.
451,046,694,166.
48989,187,780.
59601,400,226,491.
153,603,621,504.
441,380,277,088.
923,288,768,694.
051001,400,226,491.
153,603,621,504.
441,380,277,088.
923,288,768,694.
05所附附注为本会计报表的组成部分法定代表人:顾惠龙总会计师:(签名并盖章)主管会计工作负责人:沈建芳会计机构负责人:刘惠诚长期负债合计资产总计固定资产合计负债和股东权益总计股东权益合计资产注释号行次期末数年初数期末数年初数负债和股东权益注释号行次股份有限公司二三年半年度会计报表利润及利润分配表会股地年02表编制单位:2003年1~6月金额单位:元母公司合并母公司合并母公司合并母公司合并一、主营业务收入111,914,464.
961,649,430,076.
491,501,555.
561,616,344,707.
65六、可供分配的利润25208,403,926.
5148,728,847.
06229,367,620.
55170,863,301.
28减:主营业务成本29,954,813.
221,465,879,539.
4514,223,173.
571,234,747,125.
97减:提取法定盈余公积2611,520,248.
4219,519,908.
44主营业务税金及附加34,837,250.
0024,295.
91提取法定公益金27二、主营业务利润(亏损以"-"号填列)41,959,651.
74178,713,287.
04-12,721,618.
01381,573,285.
77提取职工奖励及福利基金(合并报表填列.
子公司为外商投资企业的项目)287,680,165.
6214,567,095.
85加:其他业务利润(亏损以"-"号填列)51,658,447.
8411,718,969.
72-11,218,730.
50-3,997,313.
16减:营业费用6244,540.
1670,984,456.
04219,061.
1984,697,039.
69管理费用713,930,466.
1130,880,937.
88-13,876,587.
5675,128,641.
16财务费用85,475,687.
8137,300,994.
064,097,020.
1845,069,537.
31七、可供股东分配的利润35208,403,926.
5129,528,433.
02229,367,620.
55136,776,296.
99三、营业利润(亏损以"-"号填列)10-16,032,594.
5051,265,868.
78-14,379,842.
32172,680,754.
45减:应付优先股股利36加:投资收益(亏损以"-"号填列)1143,289,254.
162,158,943.
94107,591,598.
896,140,895.
59提取任意盈余公积3711,520,248.
4219,519,908.
44补贴收入12应付普通股股利38营业外收入1311,395.
55200,609.
36293,692.
13641,035.
73转作股本的普通股股利39减:营业外支出14-4,598,051.
46-3,850,407.
35-29,903.
35570,009.
36八、未分配利润(未弥补亏损以"-"号填列)40208,403,926.
5118,008,184.
60229,367,620.
55117,256,388.
55四、利润总额(亏损以"-"号填列)1531,866,106.
6757,475,829.
4393,535,352.
05178,892,676.
41减:所得税1611,657,699.
0319,154,641.
09补充资料:少数股东损益(合并报表填列)1712,757,277.
9251,808,664.
031.
出售、处置部门或被投资单位所得收益41加:未确认的投资损失(合并报表填列)182.
自然灾害发生的损失423.
会计政策变更增加(或减少)利润总额43五、净利润(亏损以"-"号表示)2031,866,106.
6733,060,852.
4893,535,352.
05107,929,371.
294.
会计估计变更增加(或减少)利润总额44加:年初未分配利润21176,537,819.
8415,667,994.
58135,832,268.
5062,933,929.
995.
债务重组损失45其他转入226.
其他46所附附注为本会计报表的组成部分法定代表人:顾惠龙总会计师:(签名并盖章)主管会计工作负责人:沈建芳会计机构负责人:刘惠诚项目注释号行次本期实际数上年同期实际数本期实际数上年同期实际数项目注释号行次会股地年03表编制单位:2003年1~6月金额单位:元母公司金额合并金额母公司金额合并金额母公司金额合并金额母公司金额合并金额母公司金额合并金额母公司金额合并金额一、经营活动产生的现金流量:三、筹资活动产生的现金流量:1.
将净利润调节为经营活动现金流量:销售商品、提供劳务收到的现金115,656,162.
851,263,284,084.
183,120,525.
54960,897,282.
36吸收投资所收到的现金2620,278,568.
00净利润(亏损以"-"号填列)4331,866,106.
6733,060,852.
4893,535,352.
05107,929,371.
29收到的税费返还2204.
5045,700.
00其中:子公司吸收少数股东权益性投资收到的现金2720,278,568.
00加:少数股东本期损益(亏损以"-"号表示)4412,757,277.
9251,808,664.
03收到的其他与经营活动有关的现金399,402,214.
5619,605,086.
8929,725,713.
9938,203,841.
28借款所收到的现金28210,000,000.
00653,155,500.
0080,000,000.
00985,636,500.
00减:未确认的投资损失45经营活动现金流入小计5115,058,377.
411,282,889,375.
5732,846,239.
53999,146,823.
64收到的其他与筹资活动有关的现金29130,000,000.
00加:计提的资产减值准备46-500,869.
68-48,482,737.
46-25,843,089.
52-21,254,415.
36筹资活动现金流入小计30210,000,000.
00803,434,068.
0080,000,000.
00985,636,500.
00固定资产折旧471,445,640.
39148,733,416.
102,758,089.
73169,167,637.
31购买商品、接受劳务支付的现金613,187,582.
35712,703,030.
34792,933.
85770,652,006.
60无形资产摊销482,482,681.
072,425,151.
88支付给职工以及为职工支付的现金75,444,270.
43112,844,802.
495,807,635.
69107,390,046.
98偿还债务所支付的现金31220,000,000.
00963,466,500.
00210,766,000.
00952,185,260.
00长期待摊费用摊销497,675,005.
658,112,191.
71支付的各项税费8259,976.
0190,740,509.
97198,193.
3882,290,799.
35分配股利、利润或偿付利息所支付的现金326,150,753.
9258,270,910.
895,301,545.
49106,178,729.
79待摊费用减少(减:增加)50316,379.
33-26,372.
42484,349.
24支付的其他与经营活动有关的现金945,522,351.
6628,799,255.
0011,896,577.
0323,681,141.
39其中:支付少数股东的股利3328,800,000.
00预提费用增加(减:减少)513,740,704.
91-784,586.
6417,570,046.
87经营活动现金流出小计1064,414,180.
45945,087,597.
8018,695,339.
95984,013,994.
32支付的其他与筹资活动有关的现金3448,937.
0048,937.
00处置固定资产、无形资产和其他长期资产的损失(减:收益)52-11,395.
55239,042.
90162627.
9228500.
55其中:子公司依法减资支付给少数股东的现金35固定资产报废损失53247,523.
35经营活动现金流量净额1150,644,196.
96337,801,777.
7714,150,899.
5815,132,829.
32筹资活动现金流出小计36226,150,753.
921,021,737,410.
89216,116,482.
491,058,412,926.
79财务费用545,694,135.
7332,380,238.
414,677,291.
5434,390,894.
59筹资活动产生的现金流量净额40-16,150,753.
92-218,303,342.
89-136,116,482.
49-72,776,426.
79投资损失(减:收益)55-43,289,254.
16-2,158,943.
94-107,591,598.
89-6,140,895.
59递延税款贷项(减:借项)56存货的减少(减:增加)57-44,469.
98164,977,676.
5327,067,000.
6879,305,222.
57四、汇率变动对现金的影响41169.
44-176,759.
815,689.
38-334,434.
01经营性应收项目的减少(减:增加)5857,388,967.
12-526,589,600.
163,030,495.
29-789,425,833.
66二、投资活动产生的现金流量:经营性应付项目的增加(减:减少)59-1,904,663.
58508,669,784.
0317,165,689.
84360,484,420.
54收回投资所收到的现金12403,635.
06403,635.
06五、现金及现金等价物净增加额4276,020,254.
5992,522,854.
7225,116,287.
79-91,663,036.
86其他60取得投资收益所收到的现金1392,294,946.
115,894,946.
11146,607,524.
54经营活动产生的现金流量净额6550,644,196.
96337,801,777.
7714,150,899.
5815,132,829.
32处置固定资产、无形资产和其他长期资产所收回的现金143,758,000.
004,288,662.
3287,000.
003,296,772.
702.
不涉及现金收支的投资和筹资活动:收到的其他与投资活动有关的现金1527,880,000.
0027,880,000.
0014,486.
4314,486.
43债务转为资本66投资活动现金流入小计16123,932,946.
1138,063,608.
43147,112,646.
033,714,894.
19一年内到期的可转换公司债券67融资租入固定资产68购建固定资产、无形资产其他长期资产所支付的现金182,650.
0037,294,478.
7836,464.
7137,399,899.
573.
现金及现金等价物净增加情况:投资所支付的现金1982,403,654.
0027,567,950.
00现金的期末余额6994,231,347.
09217,073,308.
44170,628,431.
17254,718,495.
03支付的其他与投资活动有关的现金20减:现金的期初余额7018,211,092.
50124,550,453.
72145,512,143.
38346,381,531.
89投资活动现金流出小计2282,406,304.
0064,862,428.
7836,464.
7137,399,899.
57加:现金等价物的期末余额71减:现金等价物的期初余额72投资活动产生的现金流量净额2541,526,642.
11-26,798,820.
35147,076,181.
32-33,685,005.
38现金及现金等价物净增加额7376,020,254.
5992,522,854.
7225,116,287.
79-91,663,036.
86所附附注为本会计报表的组成部分法定代表人:顾惠龙总会计师:(签名并盖章)会计机构负责人:刘惠诚主管会计工作负责人:沈建芳上年同期实际数现金流量表股份有限公司二三年半年度会计报表注释号行次本期实际数上年同期实际数上年同期实际数项目注释号行次本期实际数补充资料行次本期实际数项目注释号2003Semi-AnnualReportShanghaiHighly(Group)Co.
Ltd.
2003Semi-AnnualReportIMPORTANTNOTESMembersoftheboardofdirectorsofShanghaiHighly(Group)Co.
Ltd.
(hereinafterreferredtoasthe"Company")herebyensurethatthereisnofalseentry,misrepresentation,ormaterialomissioninthisReport,andtheyshallbeliable,whetherindividuallyorjointlyandseverally,fortheauthenticity,accuracyandcompletenessofthecontentofthisReport.
The2directors,Mr.
WangFanghuaandMr.
Huanghui,werenotpresentpersonallyatthesixthmeetingofthethirdsessionoftheboardofdirectorsduetoreasonsofworkbutauthorizedMr.
GuHuilongandMr.
ShenJianfangtobeproxyandexercisevotingrightsforthem.
Thechairmanoftheboard,Mr.
GuHuilong,theGeneralManager,MrShenJianfang,theDeputyChiefAccountantandFinancialController,Mr.
LiuHuichengherebyensuretheauthenticityandcompletenessofthefinancialreportherein.
Thesemi-annualfinancialreportofthecompanyisunaudited.
ThisReportismadeinbothChineseandEnglish.
Incaseofanyinterpretativeinconsistencebetweenthetwoversions,theChineseversionshallprevail.
ContentsCHAPTER1COMPANYBASICINFORMATION…1CHAPTER2CHANGESINSTOCKANDINFORMATIONOFSHAREHOLDERS.
.
…2CHAPTER3IMFORMATIONOFDIRECTORS,SUPERVISORS,ANDSENIORMANAGEMENTSTAFF…3CHAPTER4DISCUSSIONANDANALYSISOFMANAGEMENT…4CHAPTER5IMPORTANTEVENTS…7CHAPTER6FINANCIALREPORTS.
10INDEXOFDOCUMENTFORINSPECTION…461CHAPTER1COMPANYBASICINFORMATIONA.
GeneralInformation1.
LegalNameinChinese:上海海立(集团)股份有限公司LegalNameinEnglish:SHANGHAIHIGHLY(GROUP)CO.
,LTD.
AbbreviationoftheLegalNameinEnglish:HIGHLY2.
Exchange:ShanghaiStockExchangeStockName:HaiLiGuFen(AShare)HaiLiBGu(BShare)StockCode:600619(AShare)990910(BShare)3TheCompany'sRegisteredAddress:Plot26,JinQiaoExportProcessingZone,PudongNewArea,Shanghai,P.
R.
C.
PrincipalBusinessAddress:2555ChangYangRoad,Shanghai,P.
R.
C.
ZipCode:200090Website:http://www.
highly.
ccE-mail:heartfelt@highly.
cc4LegalRepresentative:Mr.
GuHuilong5SecretaryoftheBoardofDirector:Ms.
ZhongLeiContactAddress:2555ChangYangRoad,Shanghai,P.
R.
C.
Tel:(021)65660000Fax:(021)65670941E-mail:zhonglei@highly.
cc6NewspapersdesignatedbytheCompanyforinformationdisclosure:ShanghaiSecuritiesNewsandSouthChinaMorningPost(HongKong)ThewebsiteselectedbyChinaSecuritiesRegulatoryCommissionfortheCompany'Semi-AnnualReport:http://www.
sse.
com.
cnTheSemi-AnnualReportisavailableforinspectionattheCompanyOfficeB.
MainAccountingDataandFinancialIndicesConsolidatedaccountingdataandfinancialindicesoftheCompanyasofJune30,2003(inRMB)BytheendofthisReportperiodYearend2002Difference(by%)Currentassets1,695,078,544.
631,241,502,503.
6334.
78Currentliabilities2,032,561,234.
651,736,108,965.
5415.
82Totalassets3,603,621,504.
443,288,768,694.
058.
91Shareholdersequity(excludingminorityshareholdersinterest)1,042,448,467.
45989,187,780.
595.
38Netassetspershare2.
742.
605.
38Adjustednetassetspershare2.
642.
543.
942Reportperiod(January-June,2003)January-June,2003Differences(by%)Netprofit33,060,852.
48107,929,371.
29-69.
37Netprofitafterdeductionofexceptionallosses&incomeEarningspershare0.
0870.
284-67.
86Rateofreturnonnetassets3.
1710.
91-70.
94Netcashflowsfromoperatingactivities337,801,777.
7715,132,829.
322132.
24Exceptionallosses&incomeAmountNon-operationincome166,883.
35Non-operationexpenses-3,953,966.
89Total-3,787,083.
54CHAPTER2CHANGESINSTOCKANDINFORMATIONOFSHAREHOLDERS1.
ThetotalnumberofsharesandequitystructureoftheCompanyremainedunchangedwithinthereportperiod.
2.
ByJune30,2003,thetotalnumberoftheCompany'sshareholderswas39,320,ofwhich14,690wereAshareshareholdersand24,533Bshareshareholders.
3.
InformationofthemajorshareholdersholdingtheCompany'sstock(1)Informationofthetoptenshareholder(Oneshare)ShareholdersnameChangesduringthereportperiodNo.
ofsharesheldattheendofthereportperiodPercentage(%)TypeofsharesNo.
ofstockssubjecttopledgeorfreezeNatureofshareholderShanghaiLightIndustryHoldingCo.
(Group).
------120,000,00031.
53Non-tradable------State-ownedShanghaiJiushiCorporation------16,963,2064.
46Non-tradable------DomesticlegalentityShanghaiInternationalTrust&InvestmentCorp.
------6,692,4001.
76Non-tradable------DomesticlegalentityTheIndustry&CommercialBankofChina,No.
2ShanghaiBranch------5,772,7021.
52Non-tradable------DomesticlegalentityShanghaiNewIndustryUnionCo.
------4,035,7201.
06Non-tradable------DomesticlegalentityShanghaiShangliGoodsandMaterialTradingCo.
------3,301,8000.
87Non-tradable------Domesticlegalentity3ShanghaiElectricalCo.
(Group)------3,102,8400.
82Non-tradable------DomesticlegalentityShanghaiYiyangCo.
------2,100,0000.
55Non-tradable------DomesticlegalentityBankofCommunications,ShanghaiBranch------2,028,0000.
53Non-tradable------DomesticlegalentityTheIndustry&CommercialBankofChina,PudongBranch------2,028,0000.
53Non-tradable------Domesticlegalentity(2)Amongthetoptenshareholders,theIndustry&CommercialBankofChina,No.
2ShanghaiBranchandtheIndustry&CommercialBankofChina,PudongBranchwereaffiliatedenterprises.
ShanghaiJiushiCorporationheld20%ofShanghaiInternationalTrust&InvestmentCorp.
'sstock.
Therewerenootheraffiliatedrelationshiporconcertedactionsamongthetoptenshareholders.
(3)AsofJune30th,2003,ShanghaiLightIndustryholdingCo.
(Group).
wastheonlyshareholderholdingmorethan5%oftheCompany'sstock.
Itheld120,000,000state-ownedshares,accountingfor31.
53%oftheCompany'stotalsharecapital.
Withinthereportperiod,therewasnochangetothenumberofsharesheldbyShanghaiLightIndustryHoldingCo.
(Group),norwasthereanypledgeorfreezeunderjudicialordertothesaidequity.
CHAPTER3IMFORMATIONOFDIRECTORS,SUPERVISORS,ANDSENIORMANAGEMENTSTAFF1.
ChangesinshareholdingsoftheCompany'ssharesofdirectors,supervisorsandseniormanagementNamePositionSharesheldatbeginningofyearSharesheldattheendofreportperiodReasonsofchangesShiYalongSupervisor1150015400PurchasedfromsecondarymarketTherewasnootherchangetotheshareholdingsoftheCompany'ssharesofthedirectors,supervisorsandseniormanagementwithinthereportperiod.
ThenewlyelecteddirectorsheldnosharesoftheCompany.
2.
Changesofdirectors,supervisors,andseniormanagementwithinthereportperiod(1)AninterimmeetingoftheboardofdirectorswasheldonMay23,2003whichapprovedMr.
SunHualin'sresignationfromhispositionastheCompany'schiefaccountant.
TheGeneralManager,Mr.
ShenJianfang,temporarilyservedastheCompany'schiefaccountant.
4(2)The2002ShareholderGeneralMeetingwasconvenedonJune27,2003.
Atthemeetingthefollowingresolutionswereadopted:LuoWeideandXuHuiwereelectedasindependentdirectors;FenGuodong,DongXiaoqingandZhenJiandongnolongerservedasmembersoftheboard.
CHAPTER4DISCUSSIONANDANALYSISOFMANAGEMENT1.
Operationduringreportperiod(1)TheprincipalbusinessscopeoftheCompanyconsistsofthemanufacturingandsalesofair-conditionercompressors,refrigeratorcompressorsanddehumidifiercompressors,whichbelongtotheindustryofelectricalmachineryandequipmentmanufacturing.
(2)TheCompanyfacedgreatchallengesduetoseverepricedecreaseofcompressorsandpriceincreaseofrawmaterialsinthefourthquarterof2002aswellastheoutbreakof"SARSin2003".
However,bytakingactivecounter-measures,bothoftheCompany'smanufactureandsalesvolumesofcompressorshadachievedmajorgrowthincomparisonwiththesameperiodofthepreviousyear.
Duringfirsthalfof2003,thecompressorsmanufacturedwere4,299,100sets,amongwhich4,222,200setsareair-conditionercompressors.
TheCompany'sproductionrealizeda26.
96%increaseincomparisonwiththesameperiodofthepreviousyear.
Thesalesvolumeofcompressorsreached4,695,600,including4,616,400setsofair-conditionercompressors,whichsawanincreaseby37.
45%overthesameperiodofthepreviousyear.
TheCompanyhasaccomplished70%itssalestargetforthewholeyearof2003,andthuslaidasolidfoundationforfulfillingtheplanofthewholeyear.
ThestatisticsprovidedbyChinaHouseholdElectricalAppliancesAssociationshowedthatthesalesoftheair-conditionercompressorsoftheCompanyhadaccountedfor21.
58%ofnationwidemarketsharesinthefirsthalfof2003and355,200setsofair-conditionercompressorshadbeenexported,accountingfor42.
52%ofthetotalair-conditionercompressorexportsofChina.
BoththesalesandexportvolumesoftheCompany'sair-conditionercompressorsrankedthetoponeinthedomesticindustry.
TheCompanyrealizedanincomeofRMB1,649,430,000fromprincipalbusiness,andkeptanequalpacewiththesameperiodofpreviousyear.
However,itsnetprofitwasRMB33,060,000,adropby69.
37%incomparisonwiththesameperiodofthepreviousyear.
PrincipleBusinessRevenueandPrincipalBusinessExpenses(Breakdownbasedondifferentindustrysector)5PrincipalusinessrevenuePrincipalusinessexpensesgrossprofitrate(%)Differenceinprincipalbusinessrevenuecomparedwiththatofthesameperiodoflastyear(%)Differenceinprincipalbusinesscostscomparedwiththatofthesameperiodoflastyear(%)Differenceingrossprofitratecomparedwiththatofthesameperiodoflastyear(%)Manufacturing1,592,344,372.
021,402,314,690.
3911.
93-2.
1212.
60-11.
51Realestate87,950,000.
0094,429,144.
59-7.
3719809.
7545037.
37-60.
01PrincipalBusiness(Breakdownbasedonregionalsector)RegionPrincipalbusinessrevenueDifferenceinprincipalbusinessrevenuecomparedwiththatofthesameperiodoflastyear(%)NorthChina282,175,179.
69-39.
62SouthChina568,217,363.
5513.
34EastChina621,825,277.
5812.
12Abroad166,549,470.
0560.
20Others41,527,081.
15(3)TherewasnochangetotheprincipalbusinessandbusinessstructureoftheCompany.
Theprincipalbusinessrevenueaswellastheprincipalbusinessprofitsolelycamefromthemanufacturingandsalesofcompressors.
Thedropofgrossprofitrateofcompressormanufacturingwasduetothefollowingreasons:theseveredropofpricesatthesalesendpluspricesoaringofrawmaterials,suchasenameledwire,steel,etc.
(4)TheoperationoftheCompanysubsidiarythathadaneffectofover10%oftheCompany'snetprofit:NameShanghaiHighlyNakanoRefrigeratorCo.
Ltd.
InvestmentreturnwithinreportperiodRMB5,226,600ProportionintheCompany'snetprofit15.
78%BusinessscopeManufactureoffreezingandrefrigeratingcases,stores,shelvesusedfordisplayingandrefrigeratorandcondensationdeviceandotherrelevantequipments;Salesofself-manufacturedproductsandtheconstruction,installation,maintenanceofandtechnicalconsultingservicesfortheabove-mentionedequipments.
EquityheldCompanyNetprofitRMB12,154,800(5)ProblemsanddifficultyinBusinessOperation:In2003,theCompanyencounteredmuchdifficultyincludinglowpricecompetitionofcompressormanufacturer,thesoaringofpriceinrawmaterialsand"SARS"pneumoniathataffectedtheCompany'ssales.
InordertodiminishthenegativeinfluencesontheCompanytotheutmostextent,theCompanyhadfacedthechallengeandtakeneffectivemeasureswithaclearunderstandingofthesituations:①Onthebasisoftechnology,theCompanyadjustedtheproductstructuretoexpandthesalesvolumesinbothdomesticandoverseasmarket.
Inorderto6enlargeexportvolumes,theCompanycontinuouslyresearchedonanddevelopedfrequencyconversionmachines,energy-efficientmachinesandenvironmentalprotectionmachinestorespectivelycaterforthemarketsinJapan,U.
S.
A.
andEurope.
Asaresult,theexportvolumeactuallyreached355,200setsinthefirstsixmonthsoftheyearwithanincreaserateof82.
72%comparedwiththatofthesameperiodoflastyear.
Atthesametime,theCompanyendeavoredtoincreasethesalesofthehighlycompetitiveandhighvalueaddedTHdoublerollingmachinestorespondtomarketdemands,andsold250,000setsinthefirsthalfofthisyearcomparedwithasalesresultof110,000setsinthewholepreviousyear.
Meanwhile,theCompanypromptlyintroducedtothemarketthe1.
5HPSL/TLhigh-efficiencycompressors.
Theproductioncapacityinthenumberof500,000high-efficiencycompressorswasfirstintroducedbeforetheendofpreviousyearandhadachievedasalesvolumeof326,000setsinthefirsthalfofthisyear.
②TheCompanycurbeditsexpensestotheutmostextentandcontrolledvariousexpenses.
Bylistinggoalsofcostsavingindetailandexaminingparticularexpensesofasingleunit,theCompanysuccessfullyreducedthecostofproduction;TheCompanyoptimizedandimprovedthedesignstolowerthecostsandtookgreateffortstoadoptlow-costdesignswhileensuringtheefficiencyandthefunctionsoftheproductsandalsotriedtoadoptnewprocessingtechnologywithlowercosts.
Asaresult,theaveragecostofeachsetinthefirsthalfofthisyeardroppedby17%comparedwiththesameperiodofthepreviousyear.
③TheCompanyactedrigorouslyoncollectionofaccountsreceivableandefficientlycontrolleditsintervalexpenses.
Thesalesamountofthefirstsixmonthsofthisyearincreasedby37.
45%comparedwiththesameperiodofthepreviousyear,whilethereceivablesdroppedtosomeextentcomparedtothatofthesameperiodinlastyear.
④TheCompanystrengthenedthemarketingsystem.
ItimplementedacustomermanagersystemwhichputthecustomertothecenterofthebusinessandsetupadepartmentofinternationalsalestofurtheroptimizetheservicestothecustomersandstrengthentheCompany'scapabilityofmarketexploration.
2.
TheCompany'sInvestments(1)Duringthereportperiod,nofundscollectedfrompublicofferingofsharesinsuchperiodandinpreviousyearshadbeenusedforprojectinvestments,andnosuchuseofpublic-collectedfundsbeforethereportperiodlastedinthereportperiod.
(2)Nopublicly-collectedfundswereusedfortheCompany'sinvestment.
①Asreviewedandapprovedbythethirteenthmeetingofthesecondsessionoftheboardofdirectors,theCompanydeterminedtomakeacapitalincreasetoShanghaiHitachiElectricalAppliancesCo.
,Ltd.
,toimplementtheKU/MUseriesairconditionercompressorproject.
Accordingtothescheduleoftheproject,bothshareholdersofShanghaiHitachiElectricalAppliancesCo.
,Ltd.
shallputinanadditionalregisteredcapitalofUSD8,820,000asfirstinstallment,andtheCompanycompleteditscontributionofUSD6,615,000onMarch20,2003.
At7presenttheprojectisunderconstruction.
②TheprojectofincreasingtheproductionabilityofcastingandmechanicalprocessingofShanghaiHighlyFoundryCompanywascompletedinMay2003,whichincreasedtheannualproductioncapacityof1.
5HPSL/TLseriescompressorcomponentsby1millionsets.
3.
ThepredictionofthenetprofittobeachievedfromthisyeartotheendofthenextreportperiodBecausethesellingpriceofcompressorsdeclineddramaticallycomparedtothatduringthesameperiodoflastyearwhilethepricesofrawmaterialssuchassteelandenameledwirehadgreatlyrisen,whichresultedinthedropoftherateofgrossprofitofcompressors,wepredictedthatthenetprofitfromthisyeartotheendofthenextreportperiodmaydropmorethan50%comparedwiththatduringthesameperiodoflastyear.
CHAPTER5IMPORTANTEVENTS1.
CorporateGovernanceDuringthereportperiod,theCompanyhadbeenimprovedbyeliminatingthedrawbacksthatexistedinitsactualcorporategovernancepursuanttoThePrinciplesofCorporateGovernanceofListingCompanies.
TheCompanyhadreviseditsarticlesofassociationaccordingtoThePrinciplesofCorporateGovernanceofListingCompanies,adjustedthestructureoftheboardofdirectorsandappointedLuoWeideandXuhuiastheindependentdirectorsofthethirdboardofdirectors,makingthenumberofindependentdirectorsontheboardreachingone-thirdofboardmembers.
TheCompanywilladjustandperfectthespecialcommissionofboardofdirectorsinthesecondhalfoftheyear,andoperateaccordingtotheimplementingregulationsofspecialcommissionofboardofdirectors.
2.
Thecompanydidnotcarriedoutdistributionincashdividenddistributionforthepreviousyear,andwillnotdistributetheprofitintheinterimof2003.
3.
Therewerenomajorlegalactionsorarbitrationduringthereportperiod.
Norwasthereanysuchlegalactionorarbitrationtakenplacebeforethereportperiodandlastingduringthisreportperiod.
4.
TherewasnoassetpurchaseinsubstantiveamountbytheCompanyduringreportperiod.
5.
Majoraffiliatedtransactionswithinthereportperiod:(1)Duringthereportperiod,therewerenomajoraffiliatedtransactionsarisingfromcommoditiespurchaseandprovisionoflabourservices.
8(2)Duringthereportperiod,therewerenomajoraffiliatedtransactionsarisingfromassetspurchaseandselling.
(3)Thecredits,debtsandguaranteesbetweentheCompanyanditsaffiliatedpartiesareasfollows:①ThecreditsanddebtsbetweentheCompanyanditsaffiliates.
ShanghaiJinXuanRealestateDevelopmentCo.
,Ltd,awhollyownedsubsidiaryoftheCompanyborrowedRMB30,000,000fromtheCompanytoinvestinrealestateduringthereportperiod.
byJune30,theoutstandingamountyet-to-berepaidbytheborrowerhadbeenRMB23,000,000.
Theinterestoftheloaniscalculatedandpayableasthesameinterestrateofbanks.
②Asoftheendofthereportperiod,theCompanyhadprovidedfinancialinstitutionswithjointandseveralliabilityguaranteesforthefollowingcompanies:ShanghaiZanussiElectromechanicCo.
,Ltd.
RMB151,750,000ShanghaiJinxuanFoundryCompanyRMB16,000,000ShanghaiHighlySpecialTypeRefrigerationEquipmentCo.
,Ltd.
RMB6,000,000Thereasons:above-mentionedcompaniesaresubsidiariescontrolledbythecompanyorinwhichtheCompanyholdsequities.
TheCompanyprovideditsguaranteesfortheinvestedsubsidiariesinproportiontotheequityheldbytheCompanyandinaccordancewiththerelevantagreementsbetweentheshareholdersofsuchsubsidiaries.
Thesituationofdischarge:PrepaymentsofalltheloansguaranteedbytheCompanyareconductedduly.
ThereforetheoperationandfinancialsituationoftheCompanywillnotbeaffectedinthefuture.
6.
Importantcontractsandperformance(1)Duringthereportperiod,theCompanyhadnotbeenengagedasatrustee,contractororlesseeofanyassetsofthirdpartycompanies.
FurthertherewerenoCompanyassetstrusted,contractedorleasedtoanythirdpartycompanies.
Andnosuchsituationthattookplacebeforethereportperiodcontinuedtoexitinsuchperiod.
(2)ImportantGuarantees①TheCompany'sagreementwithShanghaiShanglingElectricalApplianceJointStockCompanyofferingmutualguaranteeforeachother'sbankloanshadalreadyexpiredandthelastsumoftheloanguaranteedbytheCompanyamountingRMB10,000,000hasbeenprepaidinfullinFebruary2003.
②TheCompany'sagreementwithShanghaiShendaJointStockCompanyoffering9mutualguaranteeforeachother'sbankloanshadalreadyexpiredinJune2003.
TheCompanyhadprovidedguaranteesforloansamountingRMB49,900,000withinthereportperiod.
TheoutstandingsumofloansguaranteedbytheCompanywasRMB0asofJune30,2003.
(3)Duringthereportperiod,theCompanydidnotengageanythirdpartyforitsfundmanagement,nordidsuchmanagementtakeplacepriortothereportperiodlastwithinthereportperiod.
7.
Duringthereportperiod,theCompanyanditsshareholdersholdingmorethan5%(including5%)sharesintheCompanydidnottakeanysuchactionthatmayexertanimportantinfluenceontheperformanceandfinancialsituationofthecompany.
Andtherewerenosuchactionsmadepriortothereportperiodlastedwithinthereportperiod.
8.
Theannualgeneralshareholders'meetingoftheCompanyin2002passedtheresolutionofemployingKPMGAccountingFirmasitsoverseasauditorfor2003.
Thepurposewasforabetterdisclosureoftheinformationandpromotingtheindependenceofdomesticandoverseasaudits.
9.
TheindexoftheinformationdisclosedwithinthereportperiodItemsThenameofthenewspaperandwebsiteforinformationdisclosureDateTheannouncementregardingtheimplementationoftheaffiliatedtransactionofpurchasingthestocksofHighlyNakanobytheboardofdirectorsJanuary4,2003ResolutionannouncementofthefourthmeetingofthethirdsessionofboardofdirectorsApril8,2003ResolutionannouncementofthefourthmeetingofthethirdsessionofthesupervisoryboardApril8,2003ResolutionannouncementofthefifthmeetingofthethirdsessionofboardofdirectorsApril29,2003ResolutionannouncementoftheinterimmeetingsoftheboardMay27,2003Theannouncementofcallingthe2002generalshareholders'meetingMay27,2003Resolutionannouncementofthe2002generalshareholders'meetingJune28,2003TheannouncementonceasingtoissueadditionalAsharesoftheboardofdirectorsShanghaiSecuritiesNewsandSouthChinaMorningPost(HongKong)http://www.
sse.
com.
cnJune28,20031010.
OtherimportantinformationoftheCompany(1)ShanghaiHitachiElectricalAppliancesCo.
,Ltd.
wasawardedtheNationalMay1stLabourMedal.
(2)TheannouncementofboardofdirectorsoftheCompanypublishedthattheCompanyoriginallyplannedtopurchase30%ofthesharesinShanghaiShichuangPlasticCo.
,Ltd.
butsuspendedthedealatpresentduetoreasonsoftheseller.
(3)InAprilof2003,ShanghaiJinjiaoIndustrialCo.
,Ltd.
,anothershareholderofaCompanysubsidiaryShanghaiHighlyFoundryCompany("HighlyFoundry"),transferred7%ofitstotal20%equityheldinHighlyFoundrytoShanghaiShangliGoodsandMaterialTradingCo.
Afterthisequitytransfer,theCompany,ShanghaiJinjiaoCo.
,Ltd.
andShanghaiHighlyFoundryCompanyrespectivelyheld80%,13%and7%ofthetotalequityofHighlyFoundry.
CHAPTER6FINANCIALREPORTS(Un-audited)Ⅰ.
Generalsituation1.
BackgroundinformationUpontheapprovaldocumentHJQ(1992)299issuedbyShanghaiMunicipalityEconomicCommittee,ShanghaiHighly(Group)Co.
,Ltd.
('theCompany')wasestablishedasajointstockcompanyinShanghai,thePeople'sRepublicofChina('thePRC')(thelegalpersonbusinesslicensewasissuedbyShanghaiMunicipalityAdministrationofIndustryandCommerce).
ThelegalrepresentativeisGuHuiLong.
TheCompanyisregisteredatNo.
26Area,PudongJinqiaoExportProcessingZone,ShanghaiandtheofficeaddressisNo.
2555ChangYangRoad,Shanghai.
TheCompany'ssharecapitalwasRMB380,520,000.
00yuan,forwhichtheCompanyissuedAshare22.
08millionsharesandBshare179.
4millionshares,whicharetradedontheShanghaiStockExchange.
2.
ThenatureoftheindustrytowhichtheCompanybelongandbusinessscopeTheCompanyisintheindustryofthemanufacturingofelectronicmachineryandappliances.
TheCompanyareprincipallyengagedintheresearchanddevelopmentandmanufactureofrefrigerationequipmentandthecomponentsandpartsrelatedthereto,compressorsusedinhouseholdequipmentandtherelevantmaterialsandinstruments,saleofself-madeproducts;investmentinotherenterprises(thosethatneedlicensetorunareoperatedunderlicense).
3.
Mainproductsandservicesprovided:air-conditioncompressors,dehumidificationcompressors,componentandpartsofautomobiles,refrigeratorcompressors,refrigerationequipmentandsoon.
4.
Seasonalnature:Sincethesaleoftheair-conditioncompressorsproducedbytheCompanyis11seasonal,mostofthesalesismadeinthefirsthalfyear.
ⅡSignificantAccountingPoliciesandAccountingEstimatesAdoptedbytheCompany1.
Theapplicableaccountingregulation:TheAccountingStandardforChineseEnterprisesandAccountingRegulationforChineseEnterprisesisadoptedbytheCompany.
2.
Thefiscalyear:ThefiscalyearoftheCompanyrunsfrom1Januaryto31Decemberofeachcalendaryear3.
Recordingcurrency:Renminbi4.
Bookkeepingandvaluationbasis:Theaccrualbasisandhistoricalcostbasedvaluationisadopted.
5.
ForeigncurrencytransactionsTheamountoftransactionsinforeigncurrenciesoccurredinthereportingyearweretranslatedintoRMBatthemid-exchangeratequotedbyPeople'sBankofChinaandtheexchangeratequotedbyNewYorkForeignExchangeMarketonthefirstdayofthemonthinwhichthesetransactionsareenteredinto.
AdjustmentsaremadetotheRenminbibalanceoftheaccountsinforeigncurrenciesattheendofeachmonthtoreflecttheexchangerateprevailingonthatdate.
Theresultingexchangegainsorlosseswhichwererelatedtoborrowingsspeciallyforconstructionandacquisitionoffixedassets(includinginterestsaccrued)wascapitalized;thoseoccurredduringthestart-upperiodwerechargedtothedeferreddebits;andthoseoccurredduringtheoperationwerechargedtotheprofitandlossaccount.
6.
CashequivalentsThecashequivalentsaredefinedasthoseitemsheldbytheCompanyanditssubsidiariesmeetingallofthe4criterialistedbelow:(1)short-lived(duewithin3monthssincepurchased);(2)withstrongliquidity;(3)canbeeasilyconvertedintoknownamountofcash;and(4)bearslowriskoffluctuationinvalue.
7.
Accountingforbaddebts(1)Thebaddebtsarewrittenoffwhena.
Thedebtorsconcernedhavegoneliquidationorpassedaway,andthebankrupt'sestateortheheritagearenotenoughtomakethefullrecovery.
Thentheamountoutstandingisrecognizedasthebaddebts;orb.
Theaccounthasbeenoverdueandthereisstrongevidenceregardingitsuncollectibility.
Thebaddebtsarewrittenoffafterbeingapprovedbytheappropriatelevelofmanagement.
(2)Provisionisregularlymadeforbaddebts,whichmayhappenonaccountreceivablesandotherreceivables.
a.
Theprovisionforbaddebtsismadeonthebasisofacombinationofspecificidentificationandaginganalysis.
Forthosethatcanbespecificallyidentified,theprovisionforbaddebtsismadebasedonthecollectibility.
Theratesofprovisionis12listedasfollows:AgeofaccountsProvisionRate(%)Within6months0%6monthsto1year2%1-2years(including2years)20%2-3years(including3years)40%3-5years(including5years)70%Over5years95%b.
Theprovisionforbaddebtsofotherreceivablesismadeusingspecificidentificationmethod.
8.
AmortizationofprepaidexpensesItemTermofamortizationAmortizationMethodPropertyinsurance2003Onstraight-linebasis9.
Accountingforinventories(1)ClassificationofinventoriesInventoriesareassets(a)heldforsaleintheordinarycourseofbusiness;(b)intheprocessofproductionforsuchsale;or(c)intheformofmaterialsorsuppliestobeconsumedintheproductionprocessorintherenderingofservices.
TheinventoriesoftheCompanyareclassifiedintothefollowinggroups:rawmaterials,work-in-process,finishedproducts,developmentcost,developedproducts,materialssentoutforprocessing,low-costandshort-livedarticles,consumables.
(2)InitialmeasurementofinventoriesonacquisitionInventoriesarevaluedattheactualcostwhenacquired.
(3)Determinationofcostofinventoriesdispatched/consumedTheplannedcostmethodisadoptedinroutinedataprocessing.
Attheendofeachmonth,thedifferencesbetweentheplannedcostandtheactualcostareadjustedfortoarriveattheactualcostusingthecostvarianceratesforthatmonth.
Weightedaverageisadoptedindeterminationofcostofinventoriesdispatched/consumed.
(4)Amortizationoflowcostandshort-livedarticlesandpackagesOne-offwritingoffmethodisadoptedinamortizationoflowcostandshort-livedarticlesOne-offwritingoffmethodisadoptedinamortizationofpackaging.
(5)InventorytakingsystemTheCompanyappliedaperpetualinventorysystem.
13(6)RecognitioncriteriaandpolicyofprovisionsforimpairmentofinventoriesTheinventoriesarestatedatthelowerofcostandnetrealizablevalue.
Provisionismadeforthecostofinventorieswhichsufferfromspoilage,orbecomeentirelyorpartiallyobsolescent,orthesellingpricesofwhicharelowerthanthecostsetc.
TheprovisionismadeonanitembyitembasisatthedifferencebywhichthecostofinventoriesishigherthantheNRV.
Formiscellaneousandlowcostitems,theprovisionismadeonacategorybycategorybasis.
Netrealizablevalueistheestimatedsellingpriceintheordinarycourseofbusinesslesstheestimatedcostsofcompletionandtheestimatedcostsnecessarytomakethesale.
10.
Long-terminvestments(1)Thevaluationoflong-termequityinvestmentsandrecognitionofincomethereonLong-terminvestmentinsharesandotherlong-terminvestmentarecollectivelycalledlong-termequityinvestment.
Thelong-termequityinvestmentsarerecordedatitsinitialcostonacquisition,i.
e.
,thetotalpricepaidonacquisition.
Costmethodisusedtoaccountforlong-termequityinvestmentswhentheCompanydoesnothavecontrol,jointcontrolorsignificantinfluenceovertheinvesteeenterprise.
Theequitymethodisusedtoaccountforlong-termequityinvestmentswhentheCompanycancontrol,jointlycontrolorhassignificantinfluenceovertheinvesteeenterprise.
(2)AccountingforequityinvestmentdifferencesThedifferencebetweentheinitialinvestmentcostoftheCompanyandtheCompany'sshareofowners'equityoftheinvesteeenterpriseischargedorcreditedtoequityinvestmentdifferenceaccountandamortizedevenly10years.
(3)Provisionforimpairmentoflong-terminvestments—criteriaforrecognitionanddeterminationofamounttobeprovidedforIftherecoverableamountofanyinvestmentislowerthanthecarryingamountofthatinvestmentasaresultofacontinuingdeclineinmarketvalueorchangesinoperatingconditionsoftheinvesteeenterprise,thedifferencebywhichtherecoverableamountislowerthanthecarryingamountoftheinvestmentshouldberecognizedasaninvestmentlossinthereportingperiod.
11.
Accountingforfixedassetsandaccumulateddepreciation(1)DefinitionandrecognitioncriteriaoffixedassetsFixedassetsaredefinedastangibleassetsthat(a)areheldforuseintheproductionorsupplyofgoodsorservices,forrentaltoothers,orforadministrativepurposes;(b)haveusefullifeofmorethanoneyear;and(c)haverelativelyhighunitprice.
Specifically,thefollowingitemsarerecognizedasfixedassets:(a)buildingsandconstructions,machinery,transportationfacilitiesandotherequipmentandappliancesusedintheoperationoftheCompany,ofwhichtheusefullivesareover1year;and(b)thoseitemswhoseusefullivesareover2yearsandtheunitpriceexceedRMB$2,000,whichdonotfallwithinthescopeofkeyoperationfacilities.
14(2)Fixedassetsareclassifiedintothefollowingcategories:buildingsandconstructions,machineryequipment,transportationfacilities,officeequipment,andothers.
(3)ThevaluationoffixedassetsandprovisionforimpairmentthereofTheinitialmeasurementoffixedassetsuponacquisitionismadeattheiractualcostoramountdeterminedotherwise.
Attheendofeachyear,recoverableamountoffixedassetsisexaminedonanindividualitembasis.
Thedifferencebywhichtherecoverableamountislowerthanthecarryingamountofthefixedassetsshouldbeprovidedfor.
Theimpairmentlossshouldberecognizedintheincomestatementforthecurrentperiod.
Theprovisionforimpairmentoffixedassetsismadeonanindividualitembasis.
(4)AccountingforaccumulateddepreciationThefixedassetsaredepreciatedonstraight-linebasisovertheirestimatedusefullivesbasedontheoriginalcostandestimatedusefullives.
Thedepreciableamountofafixedassetequalsitsoriginalcostlessestimatedresidualvalue.
Theresidualvalueisestimatedat4-10%oftheoriginalcost.
Thedepreciationratesforeachcategoryoffixedassetsareasfollows:ItemEstimatedusefullife(inyears)Depreciationratep.
a.
(%)Buildingsandconstructions204.
5%-4.
8%Machineryequipment109%-9.
6%Transportationfacilities518%-19.
2%Officeequipment518%-19.
2%Others518%-19.
2%Forthevalueoflanduserightsincludedintheoriginalcostofbuildingsandconstructions,iftheestimatedusefullifeofthatlanduserightislongerthanthatofthebuildingandconstruction,thisfactorshouldbetakenintoaccountinestimationofresidualvalueofthatbuildingandconstruction.
Thatis,theestimatedwrittendownvalueoflanduserightattheendoftheusefullifeofthebuildingandconstructionshouldbeaddedtoitsestimatedresidualvalue,anditsestimatedresidualvalueanddepreciationrateshouldbeadjustedaccordingly.
Whenaprovisionforimpairmenthasbeenmadeforafixedasset,thedepreciationrateanddepreciationchargeforthefixedassetshouldberecalculatedbasedontheasset'scarryingamountanditsremainingusefullife.
Ifthevalueofafixedassetforwhichimpairmentprovisionhaspreviouslybeenmadeisrecovered,thedepreciationrateanddepreciationchargeforthefixedassetshouldberecalculatedbasedontheasset'srevisedcarryingamountanditsremainingusefullife.
Whilethedepreciationchargeisadjustedasaresultoftheprovisionforimpairment,noadjustmentismadetothefixedasset'saccumulateddepreciationpreviouslyprovided.
1512.
AccountingforconstructioninprogressTheactualconstructionexpendituresincurredarechargedtotheconstructioninprogressaccount.
Whenthefixedassetbeingacquiredorconstructedhasreacheditsexpectedusablecondition,thetotalconstructioncostinthataccountiscapitalizedasfixedassets.
Attheendofeachfiscalyear,therecoverableamountofalltheconstructionsinprogressisreviewedforimpairmentpurposesand,ifthereissuchevidenceonoccurrenceofimpairmentlossesofconstructioninprogress,provisionshouldbemadeandrecognizedintheincomestatementforthecurrentperiod.
Theprovisionforimpairmentofconstructioninprogressismadeonanindividualitembasis.
13.
Accountingforborrowingcosts(1)CriteriaforcapitalizationofborrowingcostsandcapitalizationperiodAsspecifiedintheAccountingStandardforBusinessEnterprises–BorrowingCosts,interestsincurredinconnectionwithspecificborrowings,andamortizationofdiscountsorpremiumsrelatingtoandexchangedifferencesarisingfromthosespecificborrowings,shouldbecapitalizedaspartofthecostoftherelatedassetif(a)expendituresfortheassetarebeingincurred;(b)borrowingcostsarebeingincurred;and(c)acquisitionandconstructionthatarenecessarytopreparetheassetforitsintendedusehavebeencommenced.
Interestsincurredinconnectionwith,amortizationofdiscountsorpremiumsrelatingto,andexchangedifferencesarisingfromotherborrowingsshouldberecognizedasanexpenseintheperiodinwhichtheyareincurred.
Capitalisationofborrowingcostsshouldbesuspendedduringperiodsinwhichtheacquisitionorconstructionofafixedassetisinterruptedabnormally,andtheinterruptionperiodismorethan3months.
Thesecostsshouldberecognisedasexpensesforthecurrentperioduntiltheacquisitionorconstructionisresumed.
Capitalizationofborrowingcostsshouldceasewhenthefixedassetbeingacquiredorconstructedhasreacheditsexpectedusablecondition.
Borrowingcostsincurredthereaftershouldberecognizedasanexpenseintheperiodinwhichtheyareincurred.
Ancillarycostsincurredinconnectionwiththearrangementofspecificborrowingsbeforetherelevantfixedassetbeingacquiredorconstructedisreadyforitsintendeduseshouldbecapitalisedintheperiodinwhichtheyareincurred.
Ancillarycostsincurredthereaftershouldberecognisedasanexpenseintheperiodinwhichtheyareincurred.
Iftheamountofancillarycostsisinsignificant,theymayberecognisedasanexpenseintheperiodinwhichtheyareincurred.
(2)DeterminationofthecapitalizationamountIneachcapitalizationperiod,theamountofinterestcoststobecapitalizedshouldbedeterminedonthebasisof(a)theweightedaverageamountofaccumulatedexpendituresincurredfortheacquisitionorconstructionofafixedassetuptotheendofthecurrentperiod,and(b)thecapitalizationrate.
Theamountofinterestandamortizationofdiscountorpremiumcapitalizedforeachcapitalizationperiodshallnotexceedtheactualamountofinterestincurredandtheactualamountofdiscountorpremiumamortizedduringthatperiod.
1614.
Accountingforintangibleassets(1)InitialmeasurementofintangibleassetsIntangibleassetsshouldberecordedbasedontheactualpurchasepricepaid.
(2)AmortizationofintangibleassetsThecostofanintangibleassetshouldbeamortizedevenlyoveritsexpectedusefullifeortheeffectiveperiodstipulatedbythecontractorthelaw(whicheverisshorter)startinginthemonthinwhichitisobtained.
Thedetailsareasfollows:ItemsAmortizationperiod(inyears)Landuseright46-50Industrypropertyrightandproprietarytechnology7(3)Provisionforimpairmentofintangibleassets—criteriaforrecognitionanddeterminationofamounttobeprovidedforTheCompanyreviewsthecarryingamountofitsintangibleassetsattheendofeachyearforthefutureeconomicbenefitsassociatedwiththemthatwillflowtotheenterprise.
Thedifferencebywhichtherecoverableamountislowerthanthecarryingamountoftheintangibleassetsshouldbeprovidedforandrecognizedintheincomestatementforthecurrentperiod.
Theprovisionforimpairmentofintangibleassetsismadeonanindividualitembasis.
15.
Accountingforlong-termdeferredcharges(1)Waterandelectricityincrementfeeisamortizedonstraightlinebasisover10years.
(2)Themouldandmeasuredispatchedisamortizedonstraightlinebasisover3-5years.
16.
Recognitionofrevenue(1)SalesofgoodsRevenuefromthesaleofgoodsshouldberecognizedwhenallthefollowingconditionshavebeensatisfied:(a)theCompanyhastransferredtothebuyerthesignificantrisksandrewardsofownershipofthegoods;(b)theCompanyretainsneithercontinuingmanagerialinvolvementtothedegreeusuallyassociatedwithownershipnoreffectivecontroloverthegoodssold;(c)itisprobablethattheeconomicbenefitsassociatedwiththetransactionwillflowtotheCompany;and(d)therelevantamountofrevenueandcostscanbemeasuredreliably.
(2)RenderingofservicesWhentheprovisionofservicesisstartedandcompletedwithinthesamefiscalyear,revenueisrecognizedatthetimeofcompletionoftheserviceswhenthemoneyortherighttocollectthemoneyisreceived.
Whentheoutcomeofatransactioninvolvingtherenderingofservicescannotbeestimatedreliably,anenterpriseshouldrecogniserevenueatthebalancesheetdatetotheextentofcostsincurredthatareexpectedtoberecoverableandchargeanequivalentamountofcosttotheprofitand1ossaccount.
Whenthecostsincurredarenotexpectedtoberecovered,revenueshouldnotberecognisedandthecostsincurredarerecognisedasanexpenseinthecurrentperiod.
17(3)UsebyothersofenterpriseassetsInterestincomeshouldbemeasuredbasedonthelengthoftimeforwhichtheCompany'scashisusedbyothersandtheapplicableinterestrate(s),androyaltyshouldbemeasuredaccordingtotheperiodandmethodofchargingasstipulatedintherelevantcontractoragreement.
Therevenueisrecognizedwhenbothofthefollowingconditionsaresatisfied:(a)itisprobablethattheeconomicbenefitsassociatedwiththetransactionwillflowtotheenterprise;and(b)theamountoftherevenuecanbemeasuredreliably.
17.
AccountingforcorporateincometaxTaxpayablemethodisadoptedinaccountingforcorporateincometax.
18.
Explanationoncorrectionofaccountingpolicies,accountingestimateandsignificantaccountingerrorTherearenosignificantchangesinaccountingpolicies,accountingestimate,andnosignificanterrorsinthereportingperiod.
19.
ConsolidationAccordingtotheNotificationontheInterimRegulationontheConsolidationofFinancialStatements(documentNo.
CKZ(1995)11)andtheReplytotheAskforInstructionontheConsolidationScope(documentNo.
CKEZ(96)2)etc.
promulgatedbytheMinistryofFinance,theconsolidatedfinancialstatementsarepreparedonthebasisofthefinancialdataoftheparentcompanyandthesubsidiarieswithinthescopeofconsolidationandotherrelateddataforthereportingyear.
Thesignificantinter-companytransactionsareeliminateduponconsolidation.
Whenpreparingtheconsolidatedfinancialstatements,theCompanyrestatedthefinancialstatementsfortheperiodendedJune30,2003(originallypreparedinaccordancewiththeAccountingRegulationsforFIEsandvariousindustries)inaccordancewiththeAccountingRegulationforChineseEnterprisesforthepurposeofconsolidation.
III.
TaxesandsurchargesTheapplicabletaxratesTaxesCorporateincometaxVATBusinesstaxCitymaintenanceandconstructiontaxTaxrate15-33%17%3-5%7%BaseoftaxationTaxableincomeOutputVAT-deductibleinputVATTurnoverBusinesstaxpayable,VATpayableandconsumptiontaxpayable*ThestatutoryrateofcorporateincometaxapplicabletotheCompanyis15%becauseitisregisteredinPudongNewArea.
ThatapplicabletothesubsidiarieswithintheconsolidationscopeShanghaiHitachiElectricalAppliancesCo.
,Ltd.
,asaadvanced-technologyFIE,is15%;ShanghaiSenlinElectricalAppliancesCo.
,Ltd.
,asaFIE,is15%;ShanghaiJinxuanRealEstateDevelopmentCo.
,Ltd.
is33%.
18Theapplicablesur-chargesratesItemRateBaseEducationalsur-charge3%Businesstax,VATandconsumptiontaxpayableRivercourseworkmaintenancesur-charge1%Businesstax,VATandconsumptiontaxpayableIV.
Subsidiariesundercontrolandassociates1.
Situationofallthesubsidiariesundercontrolandassociates,andconsolidationscope(RMB$'0000orUS$'000)NameBusinessnatureRegisteredcapitalBusinessscopeActualcontributionTheCompany'sshareintheequityinterest(%)WhetherconsolidatedReasonShanghaiHitachiElectricalAppliancesCo.
,Ltd.
IndustryUSD159,040Manufactureandsaleofhouseholdair-conditionercompressorsRMB93,297.
8075YesShanghaiSenlinElectricalApplianceCo.
,Ltd.
IndustryUSD60,000ManufactureandsaleofrefrigerationcompressorsRMB27,207.
2069YesShanghaiJinXuanRealEstateDevelopmentCo.
RealestateRMB1,730RealestatedevelopmentRMB1,730100YesShanghaiQiuJingIndustryCo.
IndustryRMB200SaleofconstructivematerialsandhouseholdelectricequipmentsRMB200100No*1ShanghaiHaiyunFlowerCo.
,Ltd.
IndustryRMB100ManufactureandsaleofartificialflowersRMB8080No*1ShanghaiHighlyForgingCo.
,Ltd.
IndustryRMB2,470Forgingparts,metalsprocessing,heattreatment,mechanicalprocessingRMB1,97680No*1ShanghaiHighlySpecialRefrigerationEquipmentCo.
,Ltd.
IndustryRMB240Refrigeration,temperaturecontrolequipmentandrelatedproductsRMB14560.
42No*1ShanghaiHighlyEstateCo.
,Ltd.
RealestateRMB1,000Realestatedevelopment,management,decorationconstructionmaterials,communicationequipment,wholesaleandretailRMB800800Yes*2*1.
Sincetheproportionoftotalassets,salesrevenueofShanghaiQiuJingIndustryCo.
,ShanghaiHaiyunFlowerCo.
,Ltd.
,ShanghaiHighlyForgingCo.
,Ltd.
andShanghaiHighlySpecialRefrigerationEquipmentCo.
,Ltd.
tothatoftheconsolidatedfinancialstatementsandtheproportionofthenetprofitofthesaidcompaniestothatoftheparentcompanyareallbelow10%,whetherindividuallyorcollectively,thefinancialimpactofthecompaniesareimmaterial,thesaidcompaniesarenotincludedintheconsolidationscopebasedonmaterialityprinciple.
*2.
TheCompanyholds80%ofShanghaiHighlyEstateCo.
,Ltd.
,whichisthereforewithintheconsolidationscope.
ThecompanywasestablishedonApril4,2003upontheapprovalofShanghaiAdministrationofIndustryandCommerce,registeredNo.
being3102271009399.
2.
Therearenochangesintheconsolidationscopeinthereportingperiod.
19Ⅴ.
MajorItemsintheFinancialStatements1.
CashCurrencyClosingbalanceOpeningbalanceInoriginalcurrencyExchangerateInrecordingcurrencyInoriginalcurrencyExchangerateInrecordingcurrencyCashRMB162,722.
2318,490.
24USD9,275.
528.
277476,777.
196,485.
378.
277353,681.
35JPY380,506.
000.
06928026,361.
461,678,638.
000.
069035115,884.
77DEM--4.
4155-CashinbankRMB177,912,894.
61113,611,019.
64USD1,641,330.
108.
277413,585,945.
761,067,127.
578.
27738,832,935.
05JPY795,427.
000.
06928055,107.
196,814,553.
000.
069035470,442.
67OthercashRMB25,253,500.
001,448,000.
00USDJPYTotal217,073,308.
44124,550,453.
722.
NotesreceivableItemClosingbalanceOpeningbalanceBankacceptance235,839,029.
73115,216,483.
60Tradecceptance12,076,102.
44Total247,915,132.
17115,216,483.
60Asattheendoftheperiod,thereisnopledgedtradeacceptance.
3.
DividendsreceivableNameClosingbalanceOpeningbalanceShanghaiHighlyNakanoRefrigeratorsCo.
,Ltd.
2,985,529.
00-ShanghaiHaiyunFlowerCo.
,Ltd.
-94,602.
40Total2,985,529.
0094,602.
404.
AccountsreceivableClosingbalanceOpeningbalanceAgingAccountsreceivableProportiontototalaccountsreceivable(%)Rateofprovisionforbaddebts(%)ProvisionforbaddebtsAccountsreceivableProportiontototalaccountsreceivable(%)Rateofprovisionforbaddebts(%)ProvisionforbaddebtsWithin6months838,784,364.
9395.
61-402,987,306.
5872.
98--6monthsto1year8,961,156.
491.
0238.
843,480,304.
39119,766,897.
2121.
693.
063,670,168.
341-2years(including2years)15,305,512.
931.
7413.
782,109,532.
5121,421,679.
783.
8829.
546,327,982.
562-3years(including3years)12,004,722.
441.
3752.
266,273,333.
976,274,712.
371.
1499.
986,273,333.
973-5years(including5years)1,308,070.
110.
1549.
39645,996.
97723,757.
740.
1396.
45698,076.
97Over5years964,969.
870.
1183.
25803,383.
06991,455.
770.
1895.
00941,882.
98Total877,328,796.
77100.
001.
5213,312,550.
90552,165,809.
45100.
003.
2417,911,444.
8220Thebaddebtsprovisionislessthan5%oftheclosingbalanceofaccountsreceivable.
Thereasonforthatisthattheaccountswhoseagingarewithin6monthsamountstoRMB838,784,364.
93,accountingfor95.
61%.
AccordingtotheCompany'spolicy,noprovisionismadeforthesaidaccounts.
Withintheaforesaidbalance,thereisnoamountduefromshareholdersthathold5%ormoreoftheCompany'svotingshares.
ThetopfivedebtorsowingRMB347,982,698.
97,accountingfor39.
66%.
5.
OtherreceivablesClosingbalanceOpeningbalanceAgingOtherreceivablesProportiontototalotherreceivables(%)Rateofprovisionforbaddebts(%)ProvisionforbaddebtsOtherreceivablesProportiontototalotherreceivables(%)Rateofprovisionforbaddebts(%)ProvisionforbaddebtsWithin1year43,765,783.
3577.
0310.
744,698,689.
0815,880,074.
0848.
860.
2743,086.
621~2years1,752,353.
023.
08--12,289,342.
0437.
8110.
271,262,000.
002~3years3,982,000.
007.
0131.
691,262,000.
0012,000.
000.
04--3~5years7,291,350.
5812.
8330.
582,229,902.
073,307,127.
0710.
1767.
432,229,902.
07Over5years21,688.
000.
04100.
0021,688.
001,014,477.
763.
1232.
72331,977.
76Total56,813,174.
95100.
0014.
458,212,279.
1532,503,020.
95100.
0011.
903,866,966.
45Withintheaforesaidbalance,thereisnoamountduefromshareholdersthathold5%ormoreoftheCompany'svotingshares.
Topfivedebtors:NameAmountDescriptionsAgingShanghaiShangliIndustryDevelopmentCooperationCompany18,359,951.
45BusinessWithin6monthsStaffofShanghaiHitachiElectricalAppliancesCo.
,Ltd.
15,248,236.
58HousingallowanceandcarallowanceWithin1yearZhejiangShaoxinHongtaiElectricalEquipmentPlant8,650,000.
00AmountsreceivableforfixedassetssoldWithin6monthsShanghaiDongxingEstateCo.
,Ltd.
4,480,641.
62Business1-2yearsShanghaiLianningRealEstateDevelopmentConstructionCompany3,710,000.
00Business1-2yearsThetopfivedebtorsowingRMB50,448,829.
65,accountingfor88.
80%.
216.
AdvancestosuppliersClosingbalanceOpeningbalanceAgingAmountProportiontototal(%)AmountProportiontototal(%)Within1year5,028,350.
32100.
007,556,657.
1699.
811-2years-14,302.
510.
192-3years---Morethan3years---Total5,028,350.
32100.
007,570,959.
67100.
00Withintheaforesaidbalance,thereisnoamountduefromshareholdersthathold5%ormoreoftheCompany'svotingshares.
7.
InventoryInventoryProvisionforimpairmentofinventoriesJan1,2003Jun30,2003Jan1,2003ProvisionsmadeProvisionsreversed/written-offJun30,2003Finishedgoods131,707,854.
93262,157,885.
8748,575,552.
6228,076,773.
1820,498,779.
44RM130,453,465.
15113,775,784.
0316,253,609.
645,473,291.
0010,780,318.
64Developmentcost31,143,648.
3288,535,051.
259,212,600.
009,212,600.
000.
00Lowcostandshort-livedarticles19,322,394.
4022,349,317.
95---WIP26,881,100.
7817,855,626.
88903,338.
20810,889.
6092,448.
60Materialssentoutforprocessing1,183,314.
941,025,601.
18--Consumables138,851.
19109,039.
08--Developedproducts---Total340,830,629.
71505,808,306.
2474,945,100.
4643,573,553.
7831,371,546.
68Detailsfordevelopmentcosts:ProjectStartingdateEstimatedcompletionEstimatedtotalinvestmentClosingbalanceOpeningbalanceHighlyHuatingmansionOct2003Dec2004168,000,00031,143,648.
32-Theinventoryitemsincludedinthebalanceasatperiodendwereacquiredbythefollowingways:purchasefromoutsideparties,manufactureoftheCompanyitself,outsideprocessing,etc.
TheJinxuanMansiondevelopedbytheCompanywastransferredoutinentiretyinMay2003.
8.
PrepaidexpensesItemclosingbalanceOpeningbalanceReasonPropertyinsurance0.
00316,379.
33229.
Long-terminvestment(1)thedetails:AmountProvisionforimpairmentItemJan1,2003IncreaseDecreaseJun30,2003Jan1,2003ProvisionsmadeProvisionsreversed/Written-offJun30,2003I.
Long-termequityinvestmentsaccountedforusingequitymethod112,539,214.
049,291,096.
4315,918,025.
20105,912,285.
27Including:Investmentsinsubsidiaries-3,466,368.
624,011,862.
735,957,180.
96-5,411,686.
85Investmentsinassociatedundertakings116,005,582.
665,279,233.
709,960,844.
24111,333,972.
12II.
Long-termequityinvestmentsaccountedforusingcostmethod18,473,216.
5518,473,216.
551,107,967.
401,107,967.
40Including:Investmentsinshares18,285,216.
5518,285,216.
551,019,967.
401,019,967.
40Otherlong-termequityinvestments188,000.
00188,000.
0088,000.
0088,000.
00Total131,012,430.
599,291,096.
4315,918,025.
20124,385,501.
821,107,967.
401,107,967.
40(2)Long-terminvestmentsinshares(equitymethod)①Long-terminvestmentsinshares(equitymethod)AdjustmentfortheCompany'sshareintheprofit/lossoftheinvesteeReservesonequityinvestmentClosingbalanceNameofInvesteeRelationshipwiththeparentcompanyTermofinvestment(inyears)ProportionofsharesheldbyparentcompanyOriginalinvestmentcostAccumulatedincreaseordecreaseofinvestmentcostIncreaseincurrentperiodCashdividendreceivedAccumulatedIncreaseincurrentyearAccumulated1234567891011(12)=(5)+(6)+(9)+(11)①ShanghaiZanussiElectromeccanicaCo.
,Ltd.
Associate5035%79,690,078.
30-3,989,786.
24-37,570,181.
8842,119,896.
42②ShanghaiHighlyForgingCo.
,Ltd.
Subsidiary1880%6,160,000.
0013,600,000.
002,117,683.
142,387,146.
665,314,702.
381,241,560.
7226,316,263.
10③ShanghaiHighlySpecialRefrigerationEquipmentCo.
,Ltd.
Subsidiary2060.
42%1,450,000.
000.
00702,499.
43216,388.
61986,170.
692,436,170.
69④ShanghaiQiuJingIndustryCo.
Subsidiary10100%2,000,000.
000.
00-2,000,000.
00-⑤ShanghaiHighlyNakanoRefrigeratorsCo.
,Ltd.
Associate43%70,949,674.
920.
005,226,544.
965,971,058.
00-744,513.
0470,205,161.
88⑥ShanghaiHaiyunFlowerCo.
,Ltd.
Subsidiary1080%800,000.
000.
006,040.
7029,691.
29829691.
29Sub-total161,049,753.
2213,600,000.
004,062,999.
998,574,563.
27-33,984,130.
561,241,560.
72141,907,183.
38Inthereportingperiod,therearenosuchmattersastherecoverableamountoftheinvesteesbeinglowerthanthecarryingvalue,thereforenoprovisionismadeforimpairment.
Thereisnosuchsituationassignificantrestrictionimposedontherealizationofinvestment.
23②Long-termshareholder'sequityinvestmentdifferenceLong-termshareholder'sequityinvestmentdifferenceNameOriginalcostDescriptionTermofamortization(inyears)AmountamortizedincurrentyearEndingbalance⑴ShanghaiHitachiElectricalAppliancesCo.
,Ltd.
36,940,777.
70Note1101,847,038.
9020,188,902.
38⑵ShanghaiSenlinElectricalAppliancesCo.
,Ltd.
-64,920,840.
37Note210--55,182,714.
31⑶ShanghaiHighlyNakanoRefrigeratorsCo.
,Ltd.
-1,053,774.
92Thedifferencebetweentheinvestmentamountandthecorrespondingshareinnetassets10-52,688.
74-1,001,086.
18Sub-total-29,033,837.
591,794,350.
16-35,994,898.
11Note1:thebalanceincludesExchangedifferenceoftheinitialinvestment(RMB29,300,308.
24),and②thedifferencebetweentheamountpaidforthe8%equityinterestinShanghaiHitachiElectricalAppliancesCo.
,Ltd.
acquiredfromGuoTouJiQinCo.
,Ltd.
in2002andtheCompany'sshareintheowner'sequityofShanghaiHitachiElectricalAppliancesCo.
,Ltd.
(RMB7,640,469.
46).
Note2:thebalanceincludesthedifferencebetweentheamountpaidforthe50%equityinterestinShanghaiSenlinElectricalAppliancesCo.
,Ltd.
acquiredfromMitsubishiElectricCo.
,Ltd.
inJan2001andtheCompany'sshareintheowner'sequityofShanghaiSenlinElectricalAppliancesCo.
,Ltd.
(RMB-71,811,459.
33),and②theCompanyrecalculatedtheLong-termshareholder'sequityinvestmentdifferenceduetochangesinaccountingpoliciesandretrospectiveadjustmentsmadetothenetassetsofShanghaiSenlinElectricalAppliancesCo.
,Ltd.
(theadjustmentbeingRMB6,890,618.
96).
(3)Long-termequityinvestmentsaccountedforusingcostmethod①Long-terminvestmentsinsharesLong-terminvestmentsinsharesInvesteesTypeofsharesNumberofsharesProportionofcapitalcontributionInitialinvestmentcostOpeningbalanceofprovisionforimpairmentProvisionmadeClosingbalanceofprovisionforimpairmentShanghaiFenghuaBallpenCo.
,Ltd.
Sharesholdbylegalperson475,200lessthan5%1,650,000.
00ChangjiangEconomicsUnionDevelopmentCo.
,Ltd.
Sharesholdbylegalperson2,000,000lessthan5%2,694,162.
00FuzhouDatongElectromechanicalCo.
,Ltd.
Sharesholdbylegalperson332,800lessthan5%295,454.
55ShanghaiNewJinjiangHotelCo.
,Ltd.
Sharesholdbylegalperson1,881,792lessthan5%4,622,000.
0024ShanghaiNo.
1FoodDepartmentCo.
,Ltd.
Sharesholdbylegalperson1,443,227lessthan5%1,640,000.
00ShanghaiTyreRubber(Group)Co.
,Ltd.
Sharesholdbylegalperson71,500lessthan5%340,000.
00253,485.
00253,485.
00ShanghaiJiabaoIndustry(Group)Co.
,Ltd.
Sharesholdbylegalperson74,880lessthan5%182,000.
0079,414.
4079,414.
40ShanghaiYuanshuiCo.
,Ltd.
Sharesholdbylegalperson220,000lessthan5%600,000.
000.
000.
00ShanghaiHuchangSpecialSteel&IronCo.
,Ltd.
Sharesholdbylegalperson198,000lessthan5%554,400.
00207,900.
00207,900.
00ShanghaiHualianDepartmentCo.
,Ltd.
Sharesholdbylegalperson1,760,912lessthan5%4,547,200.
000.
000.
00ShanghaiSanmaoTextileCo.
,Ltd.
Sharesholdbylegalperson147,840lessthan5%440,000.
00130,768.
00130,768.
00ShanghaiLinguangIndustryCo.
,Ltd.
Sharesholdbylegalperson136,620lessthan5%110,000.
00110,000.
00110,000.
00ShanghaiElectricApplianceCo.
,Ltd.
Sharesholdbylegalperson120,000lessthan5%440,000.
00238,400.
00238,400.
00Shanghai3FNewMaterialsCo.
,Ltde.
Sharesholdbylegalperson131,976lessthan5%170,000.
00Sub-total18,285,216.
551,019,967.
401,019,967.
40②Otherlong-termequityinvestmentsaccountedforusingcostmethodInvesteesTermofinvestment(inyears)InvestmentProportionofcapitalcontribution①ErQingsalescompany24100,000.
000.
36%②ShanghaiLiansenIndustryCo.
1088,000.
0010%Sub-total188,000.
00InvesteesOpeningbalanceofprovisionforimpairmentProvisionmadeProvisionrecoveredClosingbalanceofprovisionforimpairmentReasonShanghaiLiansenIndustryCo.
88,000.
000.
000.
0088,000.
00Itisestimatedthattheinvestmentcannotberealizedandcannotberecoveredintheforeseeablefuture.
25Theaccumulatedclosingbalanceofinvestmentaccountedfor15.
74%oftheclosingnetassets.
10.
FixedassetsandaccumulateddepreciationCategoryJan1,2003IncreaseDecreaseJun30,2003Remarks(1)Fixedassets—costBuildings&constructions371,241,042.
52856,309.
751,979,749.
20370,117,603.
07Machinery&equipment2,101,859,618.
54191,742,844.
0321,127,885.
792,272,474,576.
78Transportationfacilities37,201,685.
532,220,221.
682,143,569.
3337,278,337.
88Officeequipment7,392,267.
71269,821.
12601,516.
807,060,572.
03Others163,605,620.
1418,372,734.
91670,619.
42181,307,735.
63Total2,681,300,234.
44213,461,931.
4926,523,340.
542,868,238,825.
39(2)Fixedassets—accumulateddepreciationBuildings&constructions105,004,759.
799,130,914.
089,732.
25114,125,941.
62Machinery&equipment925,754,635.
81124,581,159.
098,794,633.
381,041,541,161.
52Transportationfacilities22,206,770.
192,182,586.
681,921,966.
2922,467,390.
58Officeequipment5,815,912.
92380,283.
52793,483.
325,402,713.
12Others87,349,614.
4912,458,472.
73241,621.
5099,566,465.
72Total1,146,131,693.
20148,733,416.
1011,761,436.
741,283,103,672.
56(3)NetvalueBuildings&constructions266,236,282.
73255,991,661.
45Machinery&equipment1,176,104,982.
731,230,933,415.
26Transportationfacilities14,994,915.
3414,810,947.
30Officeequipment1,576,354.
791,657,858.
91Others76,256,005.
6581,741,269.
91Total1,535,168,541.
241,585,135,152.
83(4)ProvisionforimpairmentoffixedassetsReasonsformakingprovisionBuildings&constructions---Machinery&equipment23,307,613.
684,655,602.
4618,652,011.
22Transportationfacilities---26Officeequipment132,806.
17-132,806.
17Others9,616,415.
82-9,616,415.
82Total33,056,835.
674,655,602.
4628,401,233.
21(5)Fixedassets—writtendownvalueBuildings&constructions266,236,282.
73255,991,661.
45Machinery&equipment1,152,797,369.
051,212,281,404.
04Transportationfacilities14,994,915.
3414,810,947.
30Officeequipment1,443,548.
621,525,052.
74Others66,639,589.
8372,124,854.
09Total1,502,111,705.
571,556,733,919.
62(6)Reconciliationofthecarryingamountoffixedassets①OriginalcostoffixedassetsBalanceasatJan1,20032,681,300,234.
44Add:Purchases18,559,715.
21Transferfromconstructioninprogressaccount194,902,216.
28Others(overage)Subtotalofincrease213,461,931.
49Less:Retirementanddisposal26,523,340.
54Subtotalofdecrease26,523,340.
54BalanceasatJun30,20032,868,238,825.
39②AccumulateddepreciationBalanceasatJan1,20031,146,131,693.
20Add:Depreciationprovided148,733,416.
1Subtotalofincrease148,733,416.
1Less:Retirementanddisposal11,761,436.
74Subtotalofdecrease11,761,436.
74BalanceasatJun30,20031,283,103,672.
56(7)IncludedinthecarryingamountoffixedassetsasatJune30,2003thereare:lcarryingamountoftemporarilyidlefixedassets,RMB34,833,968.
26;lgrosscarryingamountofanyfullydepreciatedfixedassetsthatarestillinuse,RMB55,288,578.
73;lthereisnoproperty,plantandequipmentthatisretiredfromactiveuseandheldfordisposal.
ShanghaiSenlinElectricalAppliancesCo.
,Ltd.
gotaloanRMB84millionsecuredbythebuildingandconstructionandlanduserightvaluingatRMB185,835,300.
11.
Constructioninprogress27Jan1,2003IncreaseTransfertofixedassetsOtherdecreasesName/categoryofconstructionprojectsAmountIncluding:borrowingcostcapitalizedAmountIncluding:borrowingcostcapitalizedAmountIncluding:borrowingcostcapitalizedAmountIncluding:borrowingcostcapitalizedSL/TLprojectFirststage231,287,959.
755,573,679.
83191,317,898.
793,107,610.
35SenlinSecondstage28,396,215.
902,202,850.
354,475,913.
0035KVtransformersubstation4,683,126.
715,910.
7903,636,185.
00QiujinHousing813,932.
160KHproductioncapacityincrementproject137,174.
39133,441.
39KU/MUproject-4,913,447.
330Others1,348,025.
75684,582.
641,248,025.
75Total266,666,434.
6611,177,620.
59194,902,216.
2811,219,708.
35AsatJun30,2003AmountIncluding:borrowingcostcapitalizedBudgetFinancingCapitalization(%)Proportionofinjectiontobudget(%)SL/TLprojectFirststage42,436,130.
44USD2,750Selfraisedfund99.
65SenlinSecondstage21,717,452.
55USD2,850Selfraisedfund9035KVtransformersubstation1,052,852.
501,328Selfraisedfund90QiujinHousing813,932.
16-SelfraisedfundKHproductioncapacityincrementproject3,733.
006,028SelfraisedfundKU/MUproject4,913,447.
33SelfraisedfundOthers784,582.
64SelfraisedfundTotal71,722,130.
62ProvisionforimpairmentofconstructioninprogressName/categoryofconstructionprojectsJan1,2003ProvisionmadeProvisionreversed/written-offJune30,2003Reasonsformakingprovision①QiujinHousing360,000.
00--360,000.
00Costishigherthanmarketvalue②SenlinSecondstage21,056,701.
65--21,056,701.
65OutofuseTotal21,416,701.
6521,416,701.
6512.
IntangibleassetsItemsMethodofacquisitionOriginalcostJan1,2003IncreaseAmortizationAccumulatedamortizationTransfersoutJun30,2003Remainingusefulyear①LanguserightPurchased170,175,120.
90146,934,375.
73-1,679,913.
1824,920,658.
35-145,254,462.
5540.
25②IndustrypropertyrightandproprietarytechnologyPurchased12,716,804.
502,096,604.
951,191,347.
51802,767.
8911,422,967.
44-2,485,184.
572.
5Total182,891,925.
40149,030,980.
681,191,347.
512,482,681.
0736,343,625.
79-147,739,647.
12Noprovisionforimpairmentismade.
13.
Long-termdeferredcharges28ItemOriginalcostJan1,2003IncreaseAmortizationAccumulatedamortizationTransfersoutJun30,2003Remainingusefulyear35KVcables--3,636,185.
00363,600.
00363,600.
00-3,272,585.
0054monthsMoulds38,984,172.
1615,332,100.
0213,555,942.
366,675,405.
6530,327,477.
79-22,212,636.
7317monthsWaterandelectricityincrementfee12,633,207.
955,637,207.
950.
00636,000.
007,632,000.
00-5,001,207.
9548monthsTotal51,617,380.
1120,969,307.
9717,192,127.
367,675,005.
6538,323,077.
79-30,486,429.
6814.
Short-termloansClosingbalanceOpeningbalancecurrencyInoriginalcurrencyExchangerateEquivalentofRMBEquivalentofRMBUnsecuredRMB450,000,000.
00607,250,000.
00USD7,000,000.
008.
277457,941,800.
0046,352,880.
00MortgageRMB84,000,000.
00130,000,000.
00GuaranteeRMB49,000,000.
00169,000,000.
00USD5,600,000.
008.
277446,353,440.
00Total12,600,000.
00687,295,240.
00952,602,880.
0015.
NotespayableItemClosingbalancepeningbalanceBankacceptance60,332,000.
0019,112,710.
22Tradeacceptance457,985,328.
8968,699,997.
00Total518,317,328.
8987,812,707.
22Alltheaforesaidbalancewillbeduewithin2003.
Withintheaforesaidbalance,thereisnoamountduetoshareholdersthathold5%ormoreoftheCompany'svotingshares.
16.
AccountspayableWithintheaforesaidbalance,thereisnoamountduetoshareholdersthathold5%ormoreoftheCompany'svotingshares.
Thereisnosignificantaccountswhoseagingisover3years.
17.
AdvancesfromcustomersWithinthebalanceofadvancesfromcustomers,thereisnoamountduetotoshareholdersthathold5%ormoreoftheCompany'svotingshares.
Thereisnoaccountswhoseagingisover1year.
18.
Dividendspayable29InvestorsClosingbalanceOpeningbalancePubliclyofferedsharesSharesownedbythestateSharesownedbylegalpersons1,610,910.
051,699,518.
05Total1,610,910.
051,699,518.
0519.
TaxespayableClosingbalanceOpeningbalanceVAT10,182,028.
4215,322,999.
52BT-188,489.
7348,095.
88Consumptiontax--Cityconstructionandmaintenancesur-tax710.
38710.
38Incometax4,731,646.
972,296,442.
41Realestatetax--Individualincometax448,468.
36130,442.
80Others--Total15,174,364.
4017,798,690.
9920.
OtheramountspayabletotheauthorityItemClosingbalanceOpeningbalanceEducationalsur-charge304.
45304.
45Channelmaintenancesurcharge157.
29157.
29CompensationforcompulsorysoldiersDikemaintenancefeeTotal461.
74461.
7421.
OtherpayablesWithintheaforesaidbalance,thereisnoamountduetoshareholdersthathold5%ormoreoftheCompany'svotingshares.
Thereisnosignificantaccountswhoseagingisover3years.
Thetopcreditors:30CreditorsClosingbalanceDescriptionsGuoTouJiQingCo.
,Ltd.
30,000,000.
00OutstandingamountforequityinteresttransferredProvisionforqualitywarranty21,320,667.
94QualitywarrantyfundHitachi,Ltd.
,Japan28,606,593.
36TrademarkusefeeStaffofShanghaiSenlinElectricalAppliancesCo.
,Ltd.
3,860,519.
00Housingallowance22.
AccruedexpensesItemClosingbalanceOpeningbalanceReasonShort-termloaninterest763,331.
411,603,327.
29AmountsyettobepaidPower,processing3,375,000.
00-AmountsyettobepaidTotal4,138,331.
411,603,327.
2923.
Long-termdebtsduewithinoneyearLong-termborrowingsduewithinoneyearItemCurrencyClosingbalanceOpeningbalanceSecuredRMB134,000,000.
00140,000,000.
00UnsecuredRMB0.
000.
00Total134,000,000.
00140,000,000.
0024.
Long-termborrowingsItemCurrencyClosingbalanceOpeningbalanceSecuredRMB112,300,000.
00151,395,991.
50UnsecuredTotal112,300,000.
00151,395,991.
5025.
Otherlong-termdebtsItemClosingbalanceOpeningbalanceExchangegaintobewrittenoff61,228,220.
9061,228,220.
903126.
SharecapitalClosingbalanceOpeningbalanceI.
Non-marketableportion1.
Sharesownedbysponsors(1)SharesownedbytheState120,000,000.
00120,000,000.
00(2)Sharesownedbydomesticlegalperson60,840,000.
0060,840,000.
00TotalNon-marketableportion180,840,000.
00180,840,000.
00II.
Marketableportion1.
CommonsharesquotedinRenminbiinPRCstockmarkets(ShareA)20,280,000.
0020,280,000.
002.
CommonsharesquotedinforeigncurrenciesinPRCstockmarkets(ShareB)179,400,000.
00179,400,000.
00TotalMarketableportion199,680,000.
00199,680,000.
00III.
Total380,520,000.
00380,520,000.
0027.
CapitalreserveItemOpeningbalanceIncreaseDecreaseClosingbalanceContributedcapitalinexcessofpar311,101,921.
10--311,101,921.
10Others57,490,488.
2427,880,000.
00-85,370,488.
24Total368,592,409.
3427,880,000.
00-396,472,409.
34Theincreaseofcapitalreserve-othersRMB27,880,000representsthespecial-purposesubsidygrantedbytheShanghaiMunicipalityBureauoffinanceasapprovedbythedocumentGJMTZ(2000)931jointlyissuedbyEconomicTradeCommission,PlanningCommissionandMinistryofFinance.
28.
RevenuereservesItemOpeningbalanceIncreaseDecreaseClosingalanceStatutoryrevenuereserve141,071,129.
1911,520,248.
42-152,591,377.
61Publicwelfarefund60,521,968.
65--60,521,968.
65Discretionaryrevenuereserve22,814,278.
8311,520,248.
42-34,334,527.
25Total224,407,376.
6723,040,496.
84247,447,873.
51Statutoryrevenuereserverepresentsthereserveappropriatedbythesubsidiarieswithintheconsolidationscope.
Discretionaryrevenuereserverepresentstheenterpriseexpansionfund32appropriatedbythesubsidiarieswithintheconsolidationscope.
29.
UndistributedprofitsFortheperiodendedJune30,2003(1)ThebalanceofundistributedprofitasofJanuary1,200315,667,994.
58(2)Add:ConsolidatednetincomefortheperiodendedJune30,200333,060,852.
48(3)Revenuereservetransferred-in(4)Less:Appropriationstostatutoryrevenuereserve11,520,248.
42(5)AppropriationstoPublicwelfarefund(6)Appropriationstodiscretionaryrevenuereserve11,520,248.
42(7)Appropriationstostaffandworkers'bonusandwelfarefund(applicabletoFIEs)7,680,165.
62(8)Less:Dividendsdeclared(9)Less:Dividendsofcommonsharesreinvested(10)ThebalanceofundistributedprofitasofJune30,200318,008,184.
60Distributionandappropriationoftheprofitsfortheyear2002:Aspassedattheshareholdersmeetingfortheyear2002,thefollowingappropriationismade:Statutoryrevenuereserve10%oftheafter-taxprofitfortheyear2002Publicwelfarefund10%oftheafter-taxprofitfortheyear2002DiscretionaryrevenuereserveNilCashdividendsNil30.
Revenuefrommainbusinessandcostthereof①Segmentinformation-industryIndustryRevenuefrombusinessCostofbusinessGrossprofitReportingperiodCorrespondingperiodoflastyearReportingperiodCorrespondingperiodoflastyearReportingperiodCorrespondingperiodoflastyearManufacture1,592,344,372.
021,626,800,171.
561,402,314,690.
391,245,435,129.
42190,029,681.
63381,365,042.
14Realestate87,950,000.
00441,743.
4494,429,144.
59209,203.
90-6,479,144.
59232,539.
54Sub-total1,680,294,372.
021,627,241,915.
001,496,743,834.
981,245,644,333.
32183,550,537.
04381,597,581.
68Less:Eliminationoftheinter-segmenttransactions30,864,295.
5310,897,207.
3530,864,295.
5310,897,207.
35Total1,649,430,076.
491,616,344,707.
651,465,879,539.
451,234,747,125.
97183,550,537.
04381,597,581.
6833②Segmentinformation-regionRevenuefrombusinessCostofbusinessGrossprofitRegionReportingperiodCorrespondingperiodoflastyearReportingperiodCorrespondingperiodoflastyearReportingperiodCorrespondingperiodoflastyearNorthChina282,175,179.
69467,355,823.
54257,769,895.
76351,382,854.
6324,405,283.
93115,972,968.
91SouthChina568,217,363.
55501,330,989.
72481,238,760.
37369,626,118.
9686,978,603.
18131,704,870.
76EastChina621,825,277.
58554,592,281.
02571,650,088.
65447,933,694.
1450,175,188.
93106,658,586.
88Export166,549,470.
05103,962,820.
72145,490,449.
7376,701,665.
5921,059,020.
3227,261,155.
13…Others41,527,081.
15-40,594,640.
47-932,440.
68-Sub-total1,680,294,372.
021,627,241,915.
001,496,743,834.
981,245,644,333.
32183,550,537.
04381,597,581.
68Less:Eliminationoftheinter-segmenttransactions30,864,295.
5310,897,207.
3530,864,295.
5310,897,207.
35Total1,649,430,076.
491,616,344,707.
651,465,879,539.
451,234,747,125.
97183,550,537.
04381,597,581.
68InthereportingperiodthetotalrevenuefromthetopfiveclientsoftheCompanyamountedtoRMB524,920,982.
73,accountingfor31.
82%ofthetotalsalesrevenue.
31.
ProfitfromotheroperationCategoryofbusinessReportingperiodCorrespondingperiodoflastyearRemarksRevenueCostRevenueCostRental2,763,479.
991,101,352.
152,348,542.
331,271,025.
14Saleofscrapsandscrapmaterials15,470,417.
965,805,920.
635,600,804.
3015,288,404.
92Processingforothers1,447,846.
501,644,582.
8713,589,171.
8111,020,222.
20Others703,227.
84114,146.
922,065,820.
6622,000.
00Total20,384,972.
298,660,002.
5723,604,339.
1027,601,652.
2632.
FinancialexpensesItemReportingperiodCorrespondingperiodoflastyearInterestexpenses36,942,697.
4039,015,293.
11Less:interestincome615,227.
82991,624.
21Exchangelosses3,426,587.
006,736,573.
21Less:exchangegains3,331,382.
620.
00Others878,320.
10815,569.
63Total37,300,994.
0645,575,811.
7433.
Mainbusinesstaxesandsur-taxItemReportingperiodCorrespondingperiodoflastyearBT4,397,500.
0022,077.
18Cityconstructionandmaintenancesur-tax307,825.
001,546.
10Consumptiontax--34Educationalsurcharge131,925.
00662.
63Others10.
00Total4,837,250.
0024,295.
9134.
InvestmentincomeReportingperiodCorrespondingperiodoflastyearIncomefrominvestmentsinshares211,309.
44376,059.
60TheCompany'sshareinthenetprofits/lossesoftheinvesteeaccountedforusingequitymethod3,741,984.
664,270,104.
49Amortizationofequityinvestmentdifferences-1,794,350.
161,632,545.
07Gain/lossontransferofequityinterest--Provisionforimpairmentoflong-terminvestment--Otherinvestmentincome--137,813.
57Total2,158,943.
946,140,895.
59Thereisnosignificantrestrictionontheremittanceofinvestmentincome.
35.
Non-operatingexpenditureItemReportingperiodCorrespondingperiodoflastyear①Provisionforimpairmentoffixedassets-4,655,602.
46-98,757.
36②Provisionforimpairmentofconstructioninprogress0.
00-100,000.
00③Donation500,000.
000.
00④Disposaloffixedassets246,882.
11213,887.
28⑤Others58,313.
00554,879.
44Total-3,850,407.
35570,009.
36InApril,2003theCompanytransferredsomeproductionequipment,forwhichtheprovisionforimpairmenthasbeenprovided.
Theamountstobecollectedforthetransferiscreditedtotheotherreceivablesaccount;theprovisionforimpairmentprovidedRMB4,655,602.
46ischargedtonon-operatingexpenditure.
36.
OthercashreceivedrelatingtooperatingactivitiesThisitemmainlyconsistsofthefollowing:ItemFortheperiodfromJan.
toJun.
2003BusinessamountsduefromShanghaiShangliIndustryDevelopmentCooperationCompany10,000,000.
00BusinessamountsduefromShanghaiIndustryTechnologyDevelopmentFoundation4,500,000.
0035BusinessamountsduefromShanghaiLianningRealEstateDevelopmentConstructionCo.
,Ltd.
2,600,000.
0037.
CashpaidrelatingtootheroperatingactivitiesThisitemmainlyconsistsofthefollowing:ItemFortheperiodfromJan.
toJun.
2003BusinessamountsduetoShanghaiShangliIndustryDevelopmentCooperationCompany10,000,000.
00Interestofdiscountandhandlingcharge7,790,680.
90Staff'smeals1,469,182.
43Transportationfee1,037,328.
3138.
CashreceivedrelatingtootherinvestingactivitiesThisitemmainlyconsistsofthefollowing:ItemFortheperiodfromJan.
toJun.
2003Special-purposesubsidygranted27,880,000.
0039.
CashreceivedrelatingtootherfinancingactivitiesThisitemmainlyconsistsofthefollowing:ItemFortheperiodfromJan.
toJun.
2003Tradeacceptancediscounted130,000,000.
00VI.
Majoritemsinthefinancialstatementsofparentcompany1.
AccountsreceivableClosingbalanceOpeningbalanceAgingmountProportiontototalaccountsreceivable(%)Provisionforbaddebts(%)ProvisionforbaddebtsmountProportiontototalaccountsreceivable(%)Provisionforbaddebts(%)ProvisionforbaddebtsWithin6months1,912,118.
9560.
111,269,638.
6643.
256monthsto1year303,900.
009.
553.
9512,000.
00600,000.
0020.
442.
0012,000.
001-2years(including2years)2-3years(including3years)3-5years(including5years)74,400.
002.
5370.
0052,080.
00Over5years964,969.
8730.
3483.
25803,383.
06991,455.
7733.
7895.
00941,882.
98Total3,180,988.
82100.
0025.
63815,383.
062,935,494.
43100.
0034.
271,005,962.
9836TheamountsreceivablefromthetopfivedebtorsamountedtoRMB2,791,295.
76,accountingfor87.
75%.
2.
OtherreceivablesClosingbalanceOpeningbalanceAgingmountProportiontototalotherreceivables(%)Provisionforbaddebts(%)ProvisionforbaddebtsmountProportiontototalotherreceivables(%)Provisionforbaddebts(%)ProvisionforbaddebtsWithin1year34,579,810.
6090.
3613.
594,698,689.
088,563,082.
889.
740.
5043,086.
621-2years(including2years)1,075,383.
792.
81438,584.
000.
502-3years(including3years)3-5years(including5years)2,591,502.
076.
7786.
052,229,902.
072,591,502.
072.
9486.
052,229,902.
07Over5years21,688.
000.
06100.
0021,688.
0076,351,419.
1386.
820.
43331,977.
76Total38,268,384.
46100.
0018.
166,950,279.
1587,944,588.
08100.
002.
962,604,966.
45Thisitemmainlyconsistsofthefollowing:DebtorsClosingbalanceDescriptionsAgingJinxuanRealEstateDevelopmentCo.
,Ltd.
23,000,000.
00MoneytemporarilylentWithin1yearZhejiangShaoxingHongtaiEquipmentPlant8,650,000.
00DisposaloffixedassetsWithin6monthsShanghaiQiuJingIndustryCo.
2,231,856.
00Moneytemporarilylent3-5yearsRMB2,229,902.
07;within1yearRMB1,953.
93ShanghaiHighlySpecialRefrigerationEquipmentCo.
,Ltd.
1,244,034.
67AmountsWithin1yearExpensesincurredinadditionalissue1,075,383.
79MoneytemporarilylentWithin1yearRMB636,799.
79;1-2yearRMB438,584.
00TheamountsreceivablefromthetopfivedebtorsamountedtoRMB36,201,274.
46,accountingfor94.
60%.
3.
Long-terminvestment(1)Thedetailsareasfollows:AmountProvisionforimpairmentoflong-terminvestmentItem0peningbalanceIncreaseDecreaseClosingbalanceOpeningbalanceProvisionmadeReversedClosingbalanceI.
Long-termequityinvestmentsaccountedforusingequitymethod1,219,839,300.
81112,165,384.
52109,226,299.
071,222,778,386.
26Including:Investmentsinsubsidiaries1,103,833,718.
15106,886,150.
8299,265,454.
831,111,454,414.
14Investmentsinassociatedundertakings116,005,582.
665,279,233.
709,960,844.
24111,323,972.
12II.
Long-termequityinvestmentsaccountedforusingcostmethod18,385,216.
5518,385,216.
551,019,967.
401,019,967.
40Including:Investmentsinshares18,285,216.
5518,285,216.
551,019,967.
401,019,967.
40Otherlong-termequityinvestments100,000.
00100,000.
00Total1,238,224,517.
36112,165,384.
52109,226,299.
071,241,163,602.
811,019,967.
401,019,967.
4037(2)Long-termequityinvestment(equitymethod)①Long-termequityinvestment(equitymethod)AdjustmentfortheCompany'sshareintheprofit/lossoftheinvesteeReservesonequityinvestmentClosingbalanceNameofInvesteeRelationshipwiththeparentcompanyTermofinvestment(inyears)ProportionofsharesheldbyparentcompanyOriginalinvestmentcostAccumulatedincreaseordecreaseofinvestmentcostIncreaseincurrentperiodCashdividendreceivedAccumulatedIncreaseincurrentyearAccumulated123456789101112=5+6+9+11①ShanghaiHitachiElectricalAppliancesCo.
,Ltd.
SubsidiaryUnlimited75%641,822,523.
70254,214,734.
5443,785,096.
6686,400,000.
00157,214,699.
691,053,251,957.
93②ShanghaiSenlinElectricalAppliancesCo.
,Ltd.
SubsidiaryUnlimited69%336,992,845.
47-281,895,099.
6484,968.
4855,182,714.
31③ShanghaiJinxuanRealEstateDevelopmentCo.
,Ltd.
SubsidiaryUnlimited100%17,300,000.
00-2,654,786.
44-8,868,571.
258,431,428.
75④ShanghaiZanussiElectromeccanicaCo.
,Ltd.
Associate5035%79,690,078.
30-3,989,768.
24-37,570,181.
8842,119,896.
42⑤ShanghaiHighlyForgingCo.
,Ltd.
Subsidiary1880%6,160,000.
0013,600,000.
002,117,683.
142,387,146.
665,314,702.
381,241,560.
7226,316,263.
10⑥ShanghaiHighlySpecialRefrigerationEquipmentCo.
,Ltd.
Subsidiary2060.
42%1,450,000.
00702,499.
43216,358.
61986,170.
692,436,170.
69⑦ShanghaiQiuJingIndustryCo.
Subsidiary10100%2,000,000.
00-2,000,000.
000.
00⑧ShanghaiHighlyNakanoRefrigeratorsCo.
,Ltd.
Associate43%70,949,674.
925,226,544.
965,971,058.
00-744,513.
0470,205,161.
88⑨ShanghaiHaiyunFlowerCo.
,Ltd.
Subsidiary1080%800,000.
006,040.
729,691.
29829,691.
29Sub-total1,157,165,122.
39267,814,734.
5445,193,310.
2194,974,563.
27-167,533,101.
761,326,529.
201,258,773,284.
37②Long-termshareholder'sequityinvestmentdifferenceLong-termshareholder'sequityinvestmentdifferenceNameOriginalcostDescriptionTermofamortization(inyears)AmountamortizedincurrentyearEndingbalance⑴ShanghaiHitachiElectricalAppliancesCo.
,Ltd.
36,940,777.
70Note1101,847,038.
9020,188,902.
38⑵ShanghaiSenlinElectricalAppliancesCo.
,Ltd.
-64,920,840.
37Note210-55,182,714.
31⑶ShanghaiHighlyNakanoRefrigeratorsCo.
,Ltd.
-1,053,774.
92Differencebetweentheinvestmentcostandthecorrespondingnetassets10-52,688.
74-1,001,086.
18Sub-total-29,033,837.
591,794,350.
16-35,994,898.
11Note1:thebalanceincludesExchangedifferenceoftheinitialinvestment(RMB3829,300,308.
24)and②thedifferencebetweentheamountpaidforthe8%equityinterestinShanghaiHitachiElectricalAppliancesCo.
,Ltd.
acquiredfromGuoTouJiQinCo.
,Ltd.
in2002andtheCompany'sshareintheowner'sequityofShanghaiHitachiElectricalAppliancesCo.
,Ltd.
ontheacquisitionday(RMB7,640,469.
46).
Note2:thebalanceincludesthedifferencebetweentheamountpaidforthe50%equityinterestinShanghaiSenlinElectricalAppliancesCo.
,Ltd.
acquiredfromMitsubishiElectricCo.
,Ltd.
inJan2001andtheCompany'sshareintheowner'sequityofShanghaiSenlinElectricalAppliancesCo.
,Ltd.
ontheacquisitionday(RMB-71,811,459.
33)and②theCompanyrecalculatedtheLong-termshareholder'sequityinvestmentdifferenceduetochangesinaccountingpoliciesandretrospectiveadjustmentsmadetothenetassetsofShanghaiSenlinElectricalAppliancesCo.
,Ltd.
(theadjustmentbeingRMB6,890,618.
96).
(3)Long-termequityinvestmentsaccountedforusingcostmethod①Long-terminvestmentsinsharesInvesteesTypeofsharesNumberofsharesProportionofcapitalcontribution(%)InitialinvestmentcostOpeningbalanceofprovisionforimpairmentProvisionmadeClosingbalanceofprovisionforimpairmentShanghaiFenghuaBallpenCo.
,Ltd.
Sharesheldbylegalperson475,200Lessthan5%1,650,000.
00ChangjiangEconomicsUnionDevelopmentCo.
,Ltd.
Sharesheldbylegalperson2,000,000Lessthan5%2,694,162.
00FuzhouDatongElectromechanicalCo.
,Ltd.
Sharesheldbylegalperson332,800Lessthan5%295,454.
55ShanghaiNewJinjiangHotelCo.
,Ltd.
Sharesheldbylegalperson1,881,792Lessthan5%4,622,000.
00ShanghaiNo.
1FoodDepartmentCo.
,Ltd.
Sharesheldbylegalperson1,443,227Lessthan5%1,640,000.
00ShanghaiTyreRubber(Group)Co.
,Ltd.
Sharesheldbylegalperson71,500Lessthan5%340,000.
00253,485.
00253,485.
00ShanghaiJiabaoIndustry(Group)Co.
,Ltd.
Sharesheldbylegalperson74,880Lessthan5%182,000.
0079,414.
4079,414.
40ShanghaiYuanshuiCo.
,Ltd.
Sharesheldbylegalperson220,000Lessthan5%600,000.
00ShanghaiHuchangSpecialSteel&IronCo.
,Ltd.
Sharesheldbylegalperson198,000Lessthan5%554,400.
00207,900.
00207,900.
00ShanghaiHualianDepartmentCo.
,Ltd.
Sharesheldbylegalperson1,760,912Lessthan5%4,547,200.
00ShanghaiSanmaoTextileCo.
,Ltd.
Sharesheldbylegalperson147,840Lessthan5%440,000.
00130,768.
00130,768.
0039personShanghaiLinguangIndustryCo.
,Ltd.
Sharesheldbylegalperson136,620Lessthan5%110,000.
00110,000.
00110,000.
00ShanghaiElectricApplianceCo.
,Ltd.
Sharesheldbylegalperson120,000Lessthan5%440,000.
00238,400.
00238,400.
00Shanghai3FNewMaterialsCo.
,Ltde.
Sharesheldbylegalperson131,976Lessthan5%170,000.
00Sub-total18,285,216.
551,019,967.
401,019,967.
40②Otherlong-termequityinvestmentsaccountedforusingcostmethodInvesteesTermofinvestment(inyears)InvestmentProportionofcapitalcontribution(%)①ErQingsalescompany24100,000.
000.
36%Sub-total100,000.
00Thereisnosuchsituationassignificantrestrictionimposedontherealizationofinvestment.
Theclosingbalanceoftheaccumulatedinvestmentaccountsfor127.
83%oftheclosingnetassets.
4.
InvestmentincomeReportingperiodCorrespondingperiodoflastyearIncomefrominvestmentsinshares211,309.
44376,059.
60TheCompany'sshareinthenetprofits/lossesoftheinvesteeaccountedforusingequitymethod43,852,327.
48105,720,807.
59Amortizationofequityinvestmentdifferences-1,794,350.
161,632,545.
07Gain/lossontransferofequityinterestProvisionforimpairmentoflong-terminvestment1,019,967.
40Otherinvestmentincome-137,813.
37Total43,289,254.
16107,591,598.
89Thereisnosuchsituationassignificantrestrictionimposedontheremittanceofinvestmentincome.
VII.
ImpactontheconsolidatedfinancialstatementsduetotheinconsistencyoftheaccountingpoliciesadoptedbythesubsidiariesandtheCompanyNecessaryadjustmentshavebeenmadebythesubsidiaries.
VIII.
DisclosureofrelatedpartytransactionsA.
Relatedpartyrelationshipwherecontrolexists401.
RelatedpartieswitheffectivecontrolNameofcompaniesRegisteredaddressPrimarybusinessesRelationshipwiththeCompanyNature/TypeofbusinessLegalrepresentativeShanghaiLightIndustryHoldingsGroupCo.
Shanghai,ChinaManagementofstate-ownedassetswithintheauthorizationParentcompanyState-ownedenterpriseZhangLiPingShanghaiHitachiElectricalAppliancesCo.
,Ltd.
Shanghai,ChinaManufactureandsaleofhouseholdair-conditionercompressorssubsidiarylimitedliabilitycompanyGuHuiLongShanghaiSenlinElectricalAppliancesCo.
,Ltd.
Shanghai,ChinaManufactureandsaleofrefrigerationcompressorssubsidiarylimitedliabilitycompanyZhuShuDong③ShanghaiJinxuanRealEstateDevelopmentCo.
,Ltd.
Shanghai,ChinaRealestatedevelopmentsubsidiarySubsidiary(holding100%)ShaoYiBenShanghaiQiuJingIndustryCo.
Shanghai,ChinaSaleofconstructivematerialsandhouseholdelectricequipmentssubsidiarysubsidiary(holding100%)FenJiaWeiShanghaiHaiyunFlowerCo.
,Ltd.
Shanghai,ChinaManufactureandsaleofartificialflowerssubsidiarylimitedliabilitycompanyHuJianWeiShanghaiHighlyForgingCo.
,Ltd.
Shanghai,ChinaForgingparts,metalsprocessing,heattreatment,mechanicalprocessingsubsidiarylimitedliabilitycompanyFenJiaWeiShanghaiHighlySpecialRefrigerationEquipmentCo.
,Ltd.
Shanghai,ChinaRefrigeration,temperaturecontrolequipmentandrelatedproductssubsidiarylimitedliabilitycompanyShenJianFangShanghaiHighlyEstateCo.
,Ltd.
Shanghai,ChinaRealestatedevelopment,management,decorationconstructionmaterials,communicationequipment,wholesaleandretailSubsidiaryofthesubsidiarylimitedliabilitycompanyYaoHengXin2.
Registeredcapitalofrelatedpartieswitheffectivecontrolandchangestherein(RMB'0000,USD'0000)NameOpeningbalanceIncreaseDecreaseClosingbalanceShanghaiLightIndustryHoldingsGroupCo.
RMB365,330RMB365,330ShanghaiHitachiElectricalAppliancesCo.
,Ltd.
USD14,575USD1,329USD15,904ShanghaiSenlinElectricalAppliancesCo.
,Ltd.
USD6,000USD6,000③ShanghaiJinxuanRealEstateDevelopmentCo.
,Ltd.
1,7301,730ShanghaiQiuJingIndustryCo.
200200ShanghaiHaiyunFlowerCo.
,Ltd.
100100ShanghaiHighlyForgingCo.
,Ltd.
2,4702,470ShanghaiHighlySpecialRefrigerationEquipmentCo.
,Ltd.
240240ShanghaiHighlyEstateCo.
,Ltd.
-1,0001,0003.
EquityoftherelatedpartieswitheffectivecontrolattributabletotheCompanyandchangestherein(RMB'0000,USD'0000)OpeningbalanceIncreaseDecreaseClosingbalanceAmount%Amount%Amount%Amount%ShanghaiHitachiElectricalAppliancesCo.
,Ltd.
USD10,421.
2575USD661.
575USD11,082.
7575ShanghaiSenlinElectricalAppliancesCo.
,Ltd.
USD4,14069USD4,1406941Co.
,Ltd.
③ShanghaiJinxuanRealEstateDevelopmentCo.
,Ltd.
1,7301001,730100ShanghaiQiuJingIndustryCo.
200100200100ShanghaiHaiyunFlowerCo.
,Ltd.
1,976801,97680ShanghaiHighlyForgingCo.
,Ltd.
14560.
4214560.
42ShanghaiHighlySpecialRefrigerationEquipmentCo.
,Ltd.
80808080ShanghaiHighlyEstateCo.
,Ltd.
--8008080080B.
RelatedpartyrelationshipwherecontroldoesnotexistNameRelationshipwiththeCompanyShanghaiHighlyNakanoRefrigeratorsCo.
,LtdAssociateShanghaiZanussiElectromeccanicaCo.
,Ltd.
AssociateC.
Relatedpartytransactions1.
Purchasea.
PurchasesfromrelatedpartiesThedetailsareasfollows:FortheperiodfromJan.
toJun.
2003FortheperiodfromJan.
toJun.
2003NameAmountProportiontototalsalesoftheyear(%)PricingNameAmountProportiontototalsalesoftheyear(%)PricingShanghaiHighlyForgingCo.
,Ltd.
52,132,131.
245.
05MarketpriceShanghaiHighlyForgingCo.
,Ltd.
28,160,178.
113.
89MarketpriceThepricesatwhichtheCompanymakespurchasesfromrelatedpartiesaredeterminedbymarketprices.
Infirsthalfyearof2002and2003,thepricesatwhichtheCompanymadepurchasesfromrelatedpartiesarethesameasthoseavailabletotheCompanyintransactionswithexternalparties,i.
e.
theprevailingmarketprices.
TheRPTsthatexceedRMB30millionareasfollows:FortheperiodfromJan.
toJun.
2003NameofrelatedpartyDescriptionofthetransactionsPriceAmountProportiontotheamountsofsimilartransactions(%)PricingcriteriaSettlementImpactontheprofitoftheCompanyMarketpriceforreferenceShanghaiHighlyForgingCo.
,Ltd.
Forgingpartsandmechanicprocessing-52,132,131.
2483.
34MarketpriceInCash―-FortheperiodfromJan.
toJun.
2002NameofrelatedpartyDescriptionofthetransactionsPriceAmountProportiontotheamountsofsimilartransactions(%)PricingcriteriaSettlementImpactontheprofitoftheCompanyMarketpriceforreferenceShanghaiHighlyForgingCo.
,Ltd.
Forgingpartsandmechanicprocessing-28,160,178.
1171.
84MarketpriceInCash--2.
SalesThedetailsareasfollows:42FortheperiodfromJan.
toJun.
2003FortheperiodfromJan.
toJun.
2002NameAmountProportiontototalsalesoftheyear(%)PricingNameAmountProportiontototalsalesoftheyear(%)PricingShanghaiHighlySpecialRefrigerationEquipmentCo.
,Ltd.
708,628.
210.
04Marketprice----3.
AccountsreceivablefromorpayabletorelatedpartiesThedetailsareasfollows:ClosingbalanceProportiontothetotal(%)ItemJune2003June2002June2003June2002NotesreceivableAccountsreceivableShanghaiHighlySpecialRefrigerationEquipmentCo.
,Ltd.
386,975.
00211,680.
000.
040.
02ShanghaiHaiyunFlowerCo.
,Ltd.
4,857.
070.
00NotespayableShanghaiHighlyForgingCo.
,Ltd.
3,018,000.
000.
58AccountspayableShanghaiHighlyForgingCo.
,Ltd.
23,809,153.
275,934,240.
235.
131.
524.
OtherreceivablefromorpayabletorelatedpartiesThedetailsareasfollows:ItemClosingbalanceProportiontothetotal(%)CriteriaforCharginginterestJune2003June2002June2003June2002June2003June2002OtherreceivablesShanghaiHighlyForgingCo.
,Ltd.
63,373.
97220,049.
340.
130.
69TheinterestrateforthecorrespondingperiodquotedbyPeople'sbankShanghaiHighlySpecialRefrigerationEquipmentCo.
,Ltd.
1,244,034.
672,237,907.
242.
586.
97-ShanghaiQiuJingIndustryCo.
2,231,856.
002,403,838.
994.
637.
49-ShanghaiLianningRealEstateDevelopmentCo.
,Ltd.
7,500,000.
0023.
37Otherpayables-AccordingtotheagreementssignedbetweentheCompanyandthesubsidiaries,theinterestratesforthefundsprovidedbytheCompanytothesubsidiariesaremadequarterly,byreferencetotheinterestquotedbythePeople'sBankforthecorrespondingperiod.
Incasethattheinterestratechange,theadjustmentismadeannually.
Inthereportingperiod,theinterestreceivedfromtherelatedpartiesareasfollows:NameFortheperiodfromJan.
toJun.
2003FortheperiodfromJan.
toJun.
2002ShanghaiHighlyForgingCo.
,Ltd.
-79,959.
63ShanghaiZanussiElectromeccanicaCo.
,Ltd.
-20,556.
25435.
Otherrelatedpartytransactionsthatneeddisclosure①ThefollowingloansareguaranteedbytheCompanyNameAsatJune30,2003AsatJune30,2002ShanghaiHighlyForgingCo.
,Ltd.
26,000,000.
0016,000,000.
00ShanghaiZanussiElectromeccanicaCo.
,Ltd.
151,750,000.
00144,750,000.
00ShanghaiHighlySpecialRefrigerationEquipmentCo.
,Ltd.
6,000,000.
003,000,000.
00②Rewardofthekeymanagement:inthereportingperiodthetotalrewardofthekeymanagementamountedtoRMB0.
5363million.
IX.
Contingencies1.
TheloansofthefollowingcompaniesareguaranteedbytheCompany,whichamountedtoRMB183,750,000.
NameAsatJune30,2003AsatJune30,2002ShanghaiHighlyForgingCo.
,Ltd.
26,000,000.
0016,000,000.
00ShanghaiZanussiElectromeccanicaCo.
,Ltd.
151,750,000.
00144,750,000.
00ShanghaiHighlySpecialRefrigerationEquipmentCo.
,Ltd.
6,000,000.
003,000,000.
00ShanghaiShanglinElectricalEquipmentCo.
,Ltd.
-88,000,000.
00ShanghaiShendaCo.
,Ltd.
-79,900,000.
00ShanghaiSanmaoCo.
,Ltd.
-50,000,000.
00ShanghaiIndustryTechnologyDevelopmentFoundation-9,000,000.
00Total183,750,000.
00390,650,000.
002.
DetailsofthedraftsAsatJune30,2003AsatDecember,2002Discountedbankacceptance,notdue594,210,386.
92386,153,771.
00Discountedbankacceptance,notdue221,674,231.
6816,980,830.
00Discountedtradeacceptance,notdue15,945,495.
31-Total831,830,113.
91403,134,601.
00X.
CommitmentsThereexistnocommitmentsthatneeddisclosure.
XI.
PostBalanceSheetDateEventsThereexistnopostbalancesheetdateeventsthatneeddisclosure.
44XII.
OtherImportantMattersThereexistnootherimportantmattersthatneeddisclosure.
Supplements:Ⅰ.
AttachmenttotheIncomeStatementReturnonnetassets(%)EPS(RMByuan/share)ProfitmadeinthereportingperiodDilutedWeightedaverageDilutedWeightedaverageProfitsfrommainbusiness17.
14%17.
37%0.
46970.
4697Profitsfromoperatingactivities4.
92%4.
98%0.
13470.
1347Netprofits3.
17%3.
21%0.
08690.
0869Netprofitsbeforeextraordinarygain/loss2.
78%2.
81%0.
07610.
0761Ⅱ.
Explanationonextraordinarychangesinthefinancialstatements:1.
Theclosingbalanceofcashincreasedby74.
29%overtheopeningbalance,mainlyduetothebettercollectionofsalesreceivablemadeinthereportingperiod.
2.
Theclosingbalanceofnotesreceivableincreasedby115.
17%overtheopeningbalance,mainlyduetothenewwayofsettlementinnotes.
3.
Theclosingbalanceofaccountsreceivableincreasedby61.
72%overtheopeningbalance,mainlyduetotheseasonalnatureofproducts,asaresultofwhichmostofthesalesaremadeinthefirsthalfoftheyear,whiletheamountshaven'tbeencollected.
4.
Theclosingbalanceofconstructioninprogressdecreasedby79.
49%overtheopeningbalance,mainlyduetothefirststageimplementationofSL/TLair-conditioncompressorswhichisofhighefficiencyandenergy-saving.
Theprojectistransferredintofixedassetsaccountinthereportingperiod.
5.
Theclosingbalanceofnotespayableincreasedby490.
25%overtheopeningbalance,mainlyduetotheadoptionofpaymentsforrawmaterialsinbanknotesandtradenotes.
6.
Theclosingbalanceofaccountspayableincreasedby85.
38%overtheopeningbalance,mainlyduetotheincreaseinsalesandthechangeinrawmaterialspurchaseandpayments.
7.
Theprofitfrommainbusinessinthereportingperioddecreasedby53.
16%overthe45correspondingperiodoflastyear,mainlyduetothesharpdropofthepricesofair-conditioncompressors,andthefactthatthepriceofsteelandcopperasrawmaterialshaveinflated,asaresultofwhichthemarginandtheprofitfrommainbusinessdecreased.
8.
Theprofitfromotherbusinessinthereportingperiodincreasedgreatlyoverthecorrespondingperiodoflastyear,mainlyduetotheincreaseinrevenuefromdisposalofscrapsastheresultofincreaseofproductionandsales.
9.
Theadministrativeexpensesinthereportingperioddecreasedby58.
90%overthecorrespondingperiodoflastyear,mainlyduetothecollectionoftheamountswrittenoffandthereverseofprovisionforbaddebtsandimpairment.
10.
Thetotalprofitandnetprofitinthereportingperioddecreasedby5367.
87%and69.
37%respectivelyoverthecorrespondingperiodoflastyear,mainlyduetothedecreaseinprofitfrommainbusiness.
11.
Theincometax,minorityinterestdecreasedby39.
14%and75.
38%respectivelyoverthecorrespondingperiodoflastyear,mainlyduetothedecreaseintotalprofits.
Ⅲ.
ScheduleofprovisionforimpairmentofassetsScheduleofprovisionforimpairmentofassetsFortheperiodfromJan.
ToJun.
2003Preparedby:ShanghaiHighly(Group)Co.
,Ltd.
RMByuanItemLineOpeningbal.
IncreaseReversed(decreased)Closingbal.
1.
Provisionforbaddebts–total121,778,411.
274,655,602.
464,909,183.
6821,524,830.
05Incl:Accountseceivable217,911,444.
82-4,598,893.
9213,312,550.
90Otherreceivables33,866,966.
454,655,602.
46310,289.
768,212,279.
152.
Provisionforimpairmentofhort-terminvestment-total4----Incl:investmentinshares5-Investmentsinbonds6-3.
Provisionforimpairmentofinventory-total774,945,100.
46-43,573,553.
7831,371,546.
68Incl:goodsinstock848,575,552.
6228,076,773.
1820,498,779.
44Rawmaterials916,253,609.
64-5,473,291.
0010,780,318.
64464.
Provisionforimpairmentoflong-terminvestment-total10----Incl:long-termequityinvestment11-Long-terminvestmentinbonds12-5.
Provisionforimpairmentoffixedassets-total1333,056,835.
67-4,655,602.
4628,401,233.
21Incl:buildingsandconstructions14-Machineryandequipment1533,056,835.
674,655,602.
4628,401,233.
216.
Provisionforimpairmentofintangibleassets16----Incl:patents17-Trademark18-7.
Provisionforimpairmentofconstructioninprogress1921,416,701.
65--21,416,701.
658.
Provisionforimpairmentofdesignatedloan20----INDEXOFDOCUMENTS1.
TheSemi-AnnualReportwiththesignatureofthechairmanoftheboardofdirectors.
2.
ThefinancialreportsignedandsealedbytheCompany'srepresentative,chiefaccountantandtheheadoftheaccountinginstitution.
3.
AlldocumentspubliclydisclosedonthenewspapersandperiodicalsdesignatedbyChineseSecuritiesRegulatoryCommissioninthereportperiod.
4.
TheArticlesofAssociationoftheCompany5.
TheSemi-AnnualReportoftheCompanypublishedonSouthChinaMorningPost(HongKong)6.
OtherrelevantmaterialsSHANGHAIHIGHLY(GROUP)CO.
LTD.
ChairmanoftheboardofdirectorsAugust8,2003