司公限有份股心中游旅海东大南海 2014 文全告报度年
Short Form of the Stock: Donghai-A, Donghai-B Stock Code: 000613, 200613
Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
Annual Report 2014
(Full Text)
Disclosure Date: 31 January 2015
司公限有份股心中游旅海东大南海 2014 文全告报度年
Section I. Important Notice, Contents and Paraphrase
Important Notice:
Board of Directors, Supervisory Committee, all directors, supervisors and senior executives of
Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd. (hereinafter referred to as the
Company) hereby confirm that there are no any fictitious statements, misleading statements, or
important omissions carried in this report, and shall take all responsibilities, individual and/or
joint, for the reality, accuracy and completion of the whole contents.
All directors are attending the Board Meeting for Report deliberation.
The Company has no plan of cash dividends carried out, bonus issued and capitalizing of
common reserves either.
Li Yuanbin, Principal of the Company, Chen Zhen, person in charger of accounting works and
Liu Xianghai, person in charge of accounting organ (accounting principal) hereby confirm that
the Financial Report of 2014 Annual Report is authentic, accurate and complete.
Concerning the forward-looking statements with future planning involved in the Report, they
do not constitute a substantial commitment for investors. Investors are advised to exercise
caution of investment risks.
Contents
Annual Report 2014 ...........................................................................................................................2
Section I Important Notice, Contents and Paraphrase .................................................................2
Section II Company Profile...............................................................................................................6
Section III Accounting data and summary of finnaical indexes ..................................................9
司公限有份股心中游旅海东大南海 2014 文全告报度年
Section IV Report of the Board of Directors ................................................................................ 11
Section V Important Events ..........................................................................................................27
Section VI Changes in shares and particular about shareholders...............错误！未定义书签。
Section VII Preferred Stock………………………………………………………………………..
Section VIII Particulars about Directors, Supervisors,Senior Executives and Employees ......35
Section IX Corporate Governance .................................................................错误！未定义书签。
Section X Internal Control ..............................................................................................................49
Section XI Financial Report............................................................................................................51
Section XII Documents available for reference.............................................................................51
司公限有份股心中游旅海东大南海 2014 文全告报度年
Paraphrase
Items Refers to Contents
CSRC Refers to China Securities Regulation Commission
SSE Refers to Shenzhen Stock Exchange
Company Law Refers to Company Law of The People’s Republic of China
Securities Law Refers to Securities Law of The People’s Republic of China
Rules of Listing Refers to Rules of Shenzhen Stock Exchange for the Listing of Stocks
Company/the Company Refers to Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
Article of Association of Hainan Dadonghai Tourism Centre (Holdings)
Article of Association Refers to
Co., Ltd.
Shareholders’ General Meeting of Hainan Dadonghai Tourism Centre
Shareholders’ General Meeting Refers to
(Holdings) Co., Ltd.
Board Refers to Board of Hainan Dadonghai Tourism Centre (Holdings) Co., Ltd.
Supervisory Committee of Hainan Dadonghai Tourism Centre
Supervisory Committee Refers to
(Holdings) Co., Ltd.
Yuan Refers to RMB
Major Risk Warning
Risk factors that probably occurred and countermeasures are well-described in the section of Report
of the Board of Directors in this Report; investors are advice to pay attention to relevant contents.
Securities Times, Hong Kong Commercial Daily and Juchao Website (www.cninfo.com.cn) are the
media for information disclosure appointed by the Company for year of 2015, all information under
the name of the Company disclosed on the above said media shall prevail
The report is prepared in bilingual versions of Chinese and English respectively, in the event of any
discrepancy in understanding the two aforementioned versions, the Chinese version shall prevail.
Investors are advised to exercise caution of investment risks.
司公限有份股心中游旅海东大南海 2014 文全告报度年
Section II Company profile
I. Company information
Short form of the stock Donghai-A , Donghai-B Stock code 000613 、 200613
Short form of the Stock after
N/A
changed
Stock exchange for listing Shenzhen Stock Exchange
Name of the Company (in
Chinese)
司公限有份股心中游旅海东大南海
Short form of the Company
(in Chinese)
海东大
Foreign name of the Company Hainan Dadonghai Tourism Centre (Holdings) Co.,Ltd.
Foreign name of short form of
DADONGHAI
the Company
Legal representative Li Yuanbin
Registrations add. Dadonghai Sanya
Code for registrations add 572021
Offices add. Dadonghai Sanya
Codes for office add.
Company website http://www.cninfo.com.cn
Email hnddhhn@21cn.com
II. Person/Way to contact
Secretary of the Board Rep. of security affairs
Name Wang Hongjuan
Contacts add. Dadonghai Sanya
Tel. 0898-88219921
Fax. 0898-88214998
Email hnddhhn@21cn.com
III. Information disclosure and preparation place
Newspaper appointed for information disclosure Securities Times, Hong Kong Commercial Daily
Website for annual report publish appointed by CSRC http://www.cninfo.com.cn
司公限有份股心中游旅海东大南海 2014 文全告报度年
Preparation place for annual report Security department of the Company
IV. Registration changes of the Company
Registration NO. for
No. of taxation
Date for registration Place for registration enterprise legal Organization code
registration
license
Dadonghai, Hedong
Initial registration 1993-04-26 20135718-8 460200201357188 20135718-8
District, Sanya
Registration at end Dadonghai, Hedong
2009-05-13 460000000145145 460200201357188 20135718-8
of report period District, Sanya
Changes of main business since listing No changes
1. The Company listed A-stock in January 1997, and 96.327 million A-stock shares are
held by Hainan Dadonghai Tourism Centre Group Co., ltd., a 26.46% in total share
capital of the Company and is the first majority shareholder of the Company also.
2. On 25 December 1998, the shares held by Hainan Dadonghai Tourism Centre Group
Co., ltd were transfer to Sanya ABC through the courts of justice, and after obtained the
shares in December 1998, Sanya ABC entrust wholly-owned subordinate enterprise
Sanya Bank-Agriculture Industrial Development Corp. to hold the aforesaid shares, than
the first majority shareholder of the Company comes to Sanya Bank-Agriculture
Industrial Development Corp.
3. On 12 December 2000, the aforesaid equity was stripped to name of China Greatwall
Previous changes for controlling Assets Management Corporation, the first majority shareholder of the Company.
shareholders 4. On 19 September 2001, China Greatwall Assets Management Corporation entered
into “Equity Transfer Agreement” with Haikou Food Co., Ltd for 60 million shares
transfer; and gained approval of [2002] No.: 430 from Ministry of Finance dated 18
October 2002, than the first majority shareholder of the Company comes to Haikou Food
Co., Ltd.
5. On 24 April 2008, Haikou Agriculture & Industry & Trade Luoniushan Co., Ltd.
entered into the “Statement”, confirmed that the 60 million shares held by Haikou Food
Co., Ltd. were under the name of Haikou Agriculture & Industry & Trade Luoniushan
Co., Ltd., the shares’ ownership have been transfer dated 29 January 2010. Therefore,
Haikou Agriculture & Industry & Trade Luoniushan Co., Ltd. comes to the first majority
shareholder of the Company.
V. Other relevant information
CPA engaged by the Company
Name of CPA BDO CHINA Shu Lun Pan Certified Public Accountants LLP
Offices add. for CPA 4# Building, No. 61, Nanjing Rd.(E), Shanghai
Signing Accountants Liu Zebo, Zhu Meirong
Sponsor engaged by the Company for performing continuous supervision duties in reporting period
司公限有份股心中游旅海东大南海 2014 文全告报度年
□ Applicable √ Not applicable
Financial consultant engaged by the Company for performing continuous supervision duties in reporting period
□ Applicable √ Not applicable
司公限有份股心中游旅海东大南海 2014 文全告报度年
Section III. Accounting data and summary of financial indexes
I. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not
□Yes √ No
2014 2013 Changes over last year
Operating income (RMB) 20,202,134.10 23,660,779.80 -14.62% 32,184,700.50
Net profit attributable to shareholders
2,503,486.47 -2,199,319.96 213.83% 2,126,042.00
of the listed company(RMB)
Net profit attributable to shareholders
of the listed company after deducting -2,709,988.03 -2,283,020.26 -18.70% -68,230.26
non-recurring gains and losses(RMB)
Net cash flow arising from operating
2,432,068.08 2,615,368.77 -7.01% 1,392,506.26
activities(RMB)
Basic earnings per share (RMB/Share) 0.0069 -0.0060 215.00% 0.0058
Diluted earnings per share
0.0069 -0.0060 215.00% 0.0058
(RMB/Share)
Weighted average ROE 3.01% -2.65% 5.66% 2.56%
Changes over end of
End of 2014 End of 2013 End of 2012
last year
Total assets (RMB) 114,080,998.28 113,960,862.69 0.11% 115,785,974.55
Net assets attributable to shareholder
84,415,334.33 81,911,847.86 3.06% 84,111,167.82
of listed company (RMB)
II. Difference of the accounting data under accounting rules in and out of China
1. Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
√ Applicable □ Not applicable
In RMB
Net profit attributable to shareholders of listed Net assets attributable to shareholders of listed
company company
Amount at
Amount in this period Amount in last period Amount at period-end
period-begin
司公限有份股心中游旅海东大南海 2014 文全告报度年
Chinese GAAP 2,503,486.47 -2,199,319.96 84,415,334.33 81,911,847.86
Items and amount adjusted by IAS
IAS 2,503,486.47 -2,199,319.96 84,415,334.33 81,911,847.86
2. Difference of the net profit and net assets disclosed in financial report, under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
√ Applicable □ Not applicable
In RMB
Net profit attributable to shareholders of listed Net assets attributable to shareholders of listed
company company
Amount at
Amount in this period Amount in last period Amount at period-end
period-begin
Chinese GAAP 2,503,486.47 -2,199,319.96 84,415,334.33 81,911,847.86
Items and amount adjusted by foreign accounting rules
By foreign accounting rules 2,503,486.47 -2,199,319.96 84,415,334.33 81,911,847.86
No differences
3. Reasons for the differences of accounting data under accounting rules in and out of China
□ Applicable √ Not applicable
III. Items and amounts of extraordinary profit (gains)/loss
√ Applicable □ Not applicable
In RMB
Item 2014 2013 2012 Note
Gains/losses from the disposal of non-current asset
(including the write-off that accrued for impairment of 5,119,583.45 -39,699.50 894,927.42 -
assets)
Gains arising from investment cost, obtained from
subsidiaries, affiliated enterprises and joint ventures,
which is less than fair value of identifiable net assets, that 38,166.20 -
deserves to enjoy in invested units while investment
obtained
Gains/losses of debt restructure 349,581.69 -
Other non-operating income and expenditure except for
93,891.05 123,399.80 911,596.95 -
the aforementioned items
Total 5,213,474.50 83,700.30 2,194,272.26 --
Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
司公限有份股心中游旅海东大南海 2014 文全告报度年
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable
In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to the lists of
extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to
the Public --- Extraordinary Profit/loss
司公限有份股心中游旅海东大南海 2014 文全告报度年
Section IV. Report of the Board of Directors
I. Introduction
During the reporting period, the Company achieved main business income of 20,202,100 Yuan, reduced by
3,458,700 Yuan compared to the same period of last year, a decrease of 14.62%; operating profit was -709,900
Yuan, reduce losses of 1,573,100 Yuan compared to the same period of last year, an increase of 68.90%; net
amount of non-operating revenue and expenditure was 3,213,400 Yuan, increased by 3,129,800 Yuan compared to
the same period of last year with increase of 3739.30%; net profit was 2,503,500 Yuan, increased by 4,702,800
Yuan compared to the same period of last year, an increase of 213.83 %.
In reporting period, the Company took various measurements positively with market oriented, building effective
mechanism of internal control management, reducing risk and consumption as well as strives for diversified
operation. We curb the decline in business and making up the deficits and get surpluses in the Year even facing
national macro regulation, overseas tourism market transfer, and imbalance between supply and demand in hotel
industry as well as the influence of bad operation environment. We basically achieved the operation goal the
Company planed at year-beginning. Main work conducted as the following:
1. Maintaining stability, try every means to stabilize and grab the market share with market orientation
In reporting period, affected by cumulated influence of deep slump in tourism market, downward pressure on
hotel operation still not decreased. Facing the complex changeable market and serious operation situation in hotel
industry, operation team of the Company adhere to operation strategy of “market-oriented and maintaining
stability”, continues to strengthening cooperation with traditional business groups, travel agents and tourist
attractions, and reaching mutual benefit and all-win by resource sharing, carrying out special tourism package for
convenient services to all tourists.
At the same time, reinforcing official website maintenance and cooperated with the leading travel websites in
China so far as Ctrip, eLong and Qunar; internet channel and e-commerce platform were fully made use of where
a series of discounted packages were promoted, and consolidate regular customs, develop new clients and try
every means to stabilize and grab the market share. In the Period, the Company hit an income of 20,202,100 Yuan
in main business with 3,458,700 Yuan down compared with same period of last year, a 14.62% declined.
2. Improve the establishment of internal control (IC) management mechanism; reduce risk and consumption,
further enhancing hotel service quality
The Company formulated the Enterprise Risk Management and Internal Control Manual pursuit to regulations and
requirement of Basic Norm of Internal Control for Enterprise and supporting guidelines and in combination with
practical situation of the Company and hotel. The Company established a more complete IC mechanism,
effectively strengthen risk management in IC and improve risk prevention ability for enterprise. In addition, we
司公限有份股心中游旅海东大南海 2014 文全告报度年
vigorously advocated energy-saving principle, pursued principles of sources enlarging and losses dwindling
strictly control cost and expenditure, put an end to extravagance and waste. During the Period, staff salary and
welfare in management expenses declined 3.09% compare to last year, and the expenditure of management
expenses down 8.35% compare with same period of last year. Meanwhile, hotel administration and staff training
were further strengthened to improve the service and administration quality as well as competitiveness.
3. Revitalize stock assets, looking for diversification
The Company''s main business is single and small-scaled, which cannot effectively resist the business risk and it
always being a “bottleneck” that restricted the development. In the reporting period, the Company disposes equity
of Haikou Luoniushan Microcredit Co., Ltd., and part of the fixed assets are invested in Sanya Xiangyu
E-Commerce Co., Ltd. Strive for liquidize remnant assets and looking for diversify operation, reduce operation
risk and maximize interests.
In 2015, the Company will continue to forge ahead, makes the core business refined, continuously explore and
innovate, raise quality and efficiency, improve the overall competitiveness and continuing viability, to achieve
sustainable, healthy, stable and rapid development.
II. Main business analysis
1. Introduction
The Company’s review and summarization to the progress of development strategy and operating plan disclosed
in early days during the report period
In reporting period, the Company took various measurements positively with market oriented, building effective
mechanism of internal control management, reducing risk and consumption as well as strives for diversified
operation. We curb the decline in business and making up the deficits and get surpluses in the Year even facing
national macro regulation, overseas tourism market transfer, and imbalance between supply and demand in hotel
industry as well as the influence of bad operation environment. We basically achieved the operation goal the
Company planed at year-beginning. In 2015, the Company will continue to forge ahead, makes the core business
refined, continuously explore and innovate, raise quality and efficiency, improve the overall competitiveness and
continuing viability, to achieve sustainable, healthy, stable and rapid development.
Reasons for difference of actual operation performance has 20% lower or higher than profit forecast of the Year disclosed
□ Applicable √ Not applicable
Changes of main operation mode
□ Applicable √ Not applicable
2. Revenue
Notes
In the reporting period, main business achieved revenue of 20.2021 million Yuan, a y-o-y down of 3.4587 million
Yuan with 14.62% down, mainly due to the declined of hotel occupancy rate and average room price drops.
In ten thousand Yuan
Product category 2014 2013 Increase/decrease y-o-y (%)
司公限有份股心中游旅海东大南海 2014 文全告报度年
Guest room 1,955.02 2,366.08 -17.37%
Food & beverage 65.19 0.00 100%
Total 2,020.21 2,366.08 -14.62%
Whether income from physical sales larger than income from labors or not
□Yes √No
Material orders in hands
□ Applicable √ Not applicable
Material changes or adjustment for products or services of the Company in reporting period
□ Applicable √ Not applicable
Major sales of the Company
Total top five clients in sales (RMB) 6,440,571.00
Proportion in total annual sales volume for top five clients 31.88%
Information of top five clients of the Company
√ Applicable □ Not applicable
Serial Clients Sales (RMB) Ratio in annual sales
1 PGS INTERNATIONAL LIMITED 3,388,408.00 16.77%
Sanya branch of Guangzhou South Holiday
2 1,585,756.00 7.85%
International Travel Service Co., Ltd.
3 Li Fei (Xinghai Holiday Travel Agency Co., Ltd. ) 563,464.00 2.79%
Ji Jinjun (Sanya Shengda International Tourism
4 522,070.00 2.58%
Ltd.)
5 Sanya Baishun International Tourism Ltd. 380,873.00 1.89%
Total -- 6,440,571.00 31.88%
Other situation of main clients
□ Applicable √ Not applicable
3. Cost
Industry classification
In RMB
2014
Industry
Item Ratio in operation Ratio in operation Y-o-y changes
classification Amount Amount
cost cost
Tourism & Clients, Food &
337,785.89 100.00% 7,841.74 100.00% 4,207.54%
catering beverage
Product classification
In RMB
Product 2014
Item Y-o-y changes
classification Amount Ratio in operation Amount Ratio in operation
司公限有份股心中游旅海东大南海 2014 文全告报度年
cost cost
Guest room Guest room 8,464.71 2.51% 7,841.74 100.00% 7.94%
Food & beverage Food & beverage 329,321.18 97.49% 0 0 100%
Note
Operating cost increased 329,944.15 Yuan with 4,207.54% up, main because the breakfast managerial authority in
Chinese restaurant was taking back in the Year and food service costs increased
Main suppliers of the Company
Total purchase amount from top five suppliers (RMB) 1,517,284.04
Proportion in total annual purchase amount for top five
70.45%
suppliers
Information of top five suppliers of the Company
□ Applicable √ Not applicable
Other situation of main suppliers
□ Applicable √ Not applicable
4. Expenses
Item 2014 2013 y-o-y Ratio
changes changed
(%)
Sales expenses 11,783,411.89 11,896,106.61 -112,694.72 -0.95%
Administration 11,423,202.87 12,463,470.06 -1,040,267.19 -8.35%
expenses
Financial 39,516.35 54,758.44 -15,242.09 -27.84%
expenses
Assets 212,606.59 187,419.68 25,186.91 13.44%
impairment
loss
Investment 4,020,000.00 4,020,000.00 100.00%
income
Non-operating 3,220,345.27 125,394.92 3,094,950.35 2468.16%
revenue
Non-operating 6,870.77 41,694.62 -34,823.85 -83.51%
司公限有份股心中游旅海东大南海 2014 文全告报度年
expenditure
Income tax 0.00 0.00 0.00 0.00%
1. Investment gains mainly due to collect cash dividend by Haikou Luoniushan Petty Loan Co., Ltd. and equity transfer income;
2. Increase of non-operating revenue mainly due to the Company contributed houses and land use rights as investment to establish
Sanya Xiangyu E-business Ltd., the value increased when valuation.
3. Decrease of non-operating expenditure mainly due to fixed assets disposal loss decrease
5. R&D expenses
Main business of the Company is hotel service, no independent R & D department and no new R&D projects
invested in reporting period.
6. Cash flow
In RMB
Item 2014 2013 Y-o-y changes
Subtotal of cash in-flow from
23,049,988.56 23,247,225.60 -0.85%
operation activity
Subtotal of cash out-flow from
20,617,920.48 20,631,856.83 -0.07%
operation activity
Net cash flow from operation
2,432,068.08 2,615,368.77 -7.01%
activity
Subtotal of cash in-flow from
14,024,200.00 51,700.00 27,026.11%
investment activity
Subtotal of cash out-flow from
741,664.00 11,026,052.00 -93.27%
investment activity
Subtotal of cash flow from
13,282,536.00 -10,974,352.00 221.03%
investment activity
Net increased amount of cash and
15,714,604.08 -8,358,983.23 288.00%
cash equivalent
The reason why the relevant figures changed more than 30% on a year-on-year basis:
√ Applicable □ Not applicable
1. Cash in-flow from investment activity has a y-o-y increased, mainly because investment was taken back from equity transfer and
bonus received;
2. Cash out-flow from investment activity has a y-o-y decreased, mainly because monetary investment in the Year decrease over
same period of last year;
3. Increase of cash flow from investment activity, mainly because investment was taken back from equity transfer and bonus received
and the monetary investment in the Year decrease over same period of last year;
4. Increase of cash and cash equivalent, mainly due to transfer shares to recoup the capital outlay and received dividends as well as
current account of Sanya Haiyuan Hotel Management Ltd. had been collected back.
司公限有份股心中游旅海东大南海 2014 文全告报度年
The reason why there was significant difference between the cash flow of the Company’s business activities and
the net profit of this year during the report period
□ Applicable √ Not applicable
III. Composition of main business
In RMB
Increase/decrease Increase/decrease Increase/decrease
Operating
Operating cost Gross profit ratio of operating of operating cost of gross profit
revenue
revenue y-o-y y-o-y ratio y-o-y
According to industries
Tourism &
20,202,134.10 337,785.89 98.33% -14.62% 4,207.54% -1.64%
catering
According to products
Guest room 19,550,223.60 8,464.71 99.96% -17.37% 7.94% -0.01%
Food & beverage 651,910.50 329,321.18 49.48% 100.00% 100.00% 49.48%
According to region
Hainan 20,202,134.10 337,785.89 98.33% -14.62% 4,207.54% -1.64%
Under circumstances of adjustment in reporting period for statistic scope of main business data, adjusted main business based on
latest one year’s scope of period-end
□ Applicable √ Not applicable
IV. Assets and liability analysis
1. Major changes of assets
In RMB
End of 2014 End of 2013
Ratio Notes of major
Ratio in total Ratio in total
Amount Amount changes changes
assets assets
Monetary fund 22,550,289.54 19.77% 6,835,685.46 6.00% 13.77% -
Account receivable 2,632,379.02 2.31% 3,509,377.76 3.08% -0.77% -
Inventory 307,057.29 0.27% 317,334.23 0.28% -0.01% -
Fix assets 56,301,360.07 49.35% 60,628,905.47 53.20% -3.85% -
Account paid in advance 40,778.52 0.04% 201,053.21 0.18% -0.14% -
Other account receivable 332,661.26 0.29% 3,299,051.36 2.89% -2.60% -
Non-current assets due 196,354.90 0.17% 386,191.87 0.34% -0.17% -
司公限有份股心中游旅海东大南海 2014 文全告报度年
within one year
Financial assets available for
4,500,000.00 3.94% 10,000,000.00 8.77% -4.83% -
Sale
Intangible assets 27,220,117.68 23.86% 28,586,908.43 25.08% -1.22% -
Long-term unamortized
0.00% 196,354.90 0.17% -0.17% -
expenses
2. Major changes of liability
In RMB
2014
Ratio
Ratio in total Ratio in total Notes of major changes
Amount Amount changes
assets assets
Account
2,390,345.19 2.10% 2,171,955.96 1.91% 0.19% -
payable
Account
received in 1,360,245.91 1.19% 1,599,994.81 1.40% -0.21% -
advance
Wages payable 3,451,674.05 3.03% 3,549,851.04 3.11% -0.08% -
Taxes payable -1,155,972.31 -1.01% -1,164,999.99 -1.02% 0.01% -
Other payables 23,619,371.11 20.70% 25,892,213.01 22.72% -2.02% -
3. Assets and liability measure by fair value
□ Applicable √ Not applicable
4. Main overseas assets
□ Applicable √ Not applicable
V. Core competitive-ness analysis
Hotels the Company runs are located at Sanya East Bay, just being few dozens of meters from the sea surface.
Facing the ocean, the Company operates with tourism as main business, enjoying a favorable environment taking
advantage of remarkable geographic and nature with seasonal flowers and birds surrounding. This site was ranked
as one of the 40 Fantastic Sceneries awarded by National Tourism Bureau. The hotel has lasted for more than 20
years since its construction, being one of most ancient hotels. It ever receipted couples of domestic and foreign
national leaders. It’s member of nationwide famous hotel with deep and rich cultural background. During these
years, the hotel conducted overall upgrading over soft and hard wares to further perfect internal and external
atmosphere and effectively reinforced competitiveness. Presently, our hotel business ranked top among hotels
司公限有份股心中游旅海东大南海 2014 文全告报度年
sited in this region with same scale and same class. For the following years, the Company is bound to complete
internal and external atmosphere and strengthen sales ability to further improve the operating capability.
VI. Investment analysis
1. Equity investment outside
(1) Investment outside
√ Applicable □ Not applicable
Investment outside
Investment in the same period of last year
Investment in the reporting period (RMB) Changes
(RMB)
4,500,000.00 10,000,000.00 -55.00%
Invested company
Proportion of equity in invested company
Name Main business
for listed company
Sanya Xiangyu E-Business Co., Ltd. E-business, software etc. 18.00%
(2) Holding the equity of financial enterprise
□ Applicable √ Not applicable
The company had not held the equity of financial enterprise in the reporting period-end.
(3) Securities investment
□ Applicable √ Not applicable
The company had no securities investment in the reporting period.
(4)Explanation on equity of other listed company held
□ Applicable √ Not applicable
The Company had no equity of other listed company held in Period.
2. Trust financing, derivative investment and entrusted loans
(1)Trust financing
□ Applicable √ Not applicable
The company had no trust financing in the reporting period.
(2) Derivative investment
司公限有份股心中游旅海东大南海 2014 文全告报度年
□ Applicable √ Not applicable
The company had no derivative investment in the reporting period.
(3) Entrusted loans
□ Applicable √ Not applicable
The company had no entrusted loans in the reporting period.
3. Application of raised proceeds
□ Applicable √ Not applicable
The company had no application of raised proceeds in the reporting period.
4. Main subsidiaries and stock-jointly company analysis
□ Applicable √ Not applicable
The Company had no main subsidiaries or stock-jointly company analysis to be disclosed in the reporting
5. Major projects invested by non-raised fund
□ Applicable √ Not applicable
The company had no major projects invested by non-raised fund in the reporting period.
VII. Prediction of business performance from January –March 2015
Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss probably or the
warning of its material change compared with the corresponding period of the last year and explanation on reason
□ Applicable √ Not applicable
VIII. Special purpose vehicle controlled by the Company
□ Applicable √ Not applicable
IX. Prospect for future development of the Company
1. Industrial development trend and competition facing the Company
With the recovery of world’s economy, the improvement of people’s income and increased awareness of the
tourism consumption, tourist market requirements in and out of China expanding continuously, and with the
Hainan International Tourism Island’s well-known unique climatic conditions, ocean resource and natural
enviornment both at home and abroad, the development prospects of Hainan tourism market looks good. However,
under the influence of State’s macro-economic policies and the Party’s stayle honesty building has been promoted,
and with the external market’s increasingly fierce competition, tourists are split frequently. The blind expansions
of local family inn and hotel is much more about supply than demand, which including top, middle and low-grade;
the normalization of malignant price competitions and more and more serious external operation enviornment, the
hotle industry, as a whole, has great downward pressure.
司公限有份股心中游旅海东大南海 2014 文全告报度年
In recent years, the Company has invested much in upgrading and renewing equipment and facilities of the hotel.
It is paid off that South China Hotel as our sole main business made a certain progress in operating
competitiveness. But it is still difficult to adapt to the increasingly fierce in hotel industry of Sanya. The Company
needs to continuously complete and improve both soft and hard equipment of the hotel as well as internal and
external atmosphere, to normalize administration. We should fully make use of modern information and
technology, become public and expand sales network to boost market share. We need go on exploring to further
improve administration level and competitiveness of the hotel.
2. The Company’s future development planning and 2015 annual business plan
(1)Further to strengthen the quality control for hard and soft equipments and facilities, promote the brand image of
the hotel, centered on enterprise benefit, take the innovation as the driving force and make the brand of major
business bigger and stronger.
(2) Continue to expand the financing channels, combine the actual situation of the Company and look for the
projects and opportunities in favor of the Company’s development, enrich the industrial structure and enlarge the
enterprise scale.
(3) Continue to strengthen the standard management of internal control, perfect the corporate governance structure,
standardize the management and operation, and effectively control the risks.
3. Fund demands and use plan required for the future development of the Company
The Company utilizes owned funds or financing methods to raise the funds demanded for development, and
completes the development planning of the Company.
4. The risks may cause adverse effects on the future development strategy and realization of operation target of
the Company
(1) Marco Policy risks
In order to normalize and optimize tourism market or further to promote clear-party construction, related
departments may further issue some relative policies. While these polices may cause restrain and effect on
regional tourism development. Main business income may be affected since we are engaged in tourism service.
Countermeasures: The Company will further to improve the hard and soft equipments and facilities of the hotel
while expanding the business scope, and win more market shares via high-class service and comfortable
environment so as to ensure the main business income level.
(2) Natural disaster risks
In recent years, various natural disasters take place frequently, Hainan Island belongs to oceanic climate, where
has high incidence of disastrous weather in summer. If Sanya becomes the landing place of typhoon, it may cause
great damages to the facilities of the Company and affect the Company’s normal operation.
Countermeasures: The Company will strengthen the construction and maintenance for infrastructure, continue to
司公限有份股心中游旅海东大南海 2014 文全告报度年
buy property insurances, positively adopt effective prevention measures, and improve the ability of resisting
natural disasters.
(3) Human resource risks
The ceaseless rising and rapid development of the same industry make the demands for marketing and
management talents of the hotel industry grow with each passing day, and the talent flow of the hotel is rather
strong, so the human resource strategy of the Company appears to be very important. Though the Company has
rather perfect human resources mechanism construction, the Company will still confronting the risks of
development restriction caused by the brain drain.
Countermeasures: The Company will keep consummating the talent introduction, training and motivation system,
and improving the employee''s remuneration, welfare and insurance benefits, and strive to attract the talents, foster
the talents and retain the talents. At the same time, the Company will strengthen the training to the quality, skill
and management ability of existing staff. Furthermore, the Company will further enhance the enterprise culture
construction, strengthen the cohesive force, and ensure the stability of core management staff and technical staff.
(4) Operational risks of main business
With the ceaseless development of global tourist industry constantly and ceaseless rising of high-class,
middle-class and low-class hotels, the tourist sources keep shunting, and the competition of tourism service
industry in Sanya becomes increasingly fierce. While the main business of the Company is just a small-scale hotel,
as the main business is single and the business scope is limited, the tourist market conditions and tourist quantity
directly make significant affects on the company performance.
Countermeasures: The Company will keep striving to be better, devote to macroscopic project, carry out scientific
management and scientific decision-making, strengthen the risk consciousness, and establish and consummate the
corresponding systems so as to avoid the risks. Expand the business scope based on the original selling network,
take the advantage of superior geographical environment, constantly develop the high-end tourist markets at home
and abroad, and improve the occupancy rate. Besides, the Company will positively look for the projects and
opportunities in favor of the Company’s development, expand the operating items, and enlarge the enterprise
scale.
X. Explanation on “Modified Auditor’s Report” from the Board and Supervisory Committee
□ Applicable √ Not applicable
XI. Comparing with last year’s financial report, explain changes in aspect of accounting
policy, accounting estimates and calculation measures
√ Applicable □ Not applicable
1. Changes of accounting policies
Ministry of Finance issued and revised the “Accounting Standard for Business Enterprises – Basic
Standards” (amendment), “Accounting Standard for Business Enterprises No. 2 – Long-Term Equity
Investment”(amendment), “Accounting Standard for Business Enterprises No. 9 – Employee
司公限有份股心中游旅海东大南海 2014 文全告报度年
Benefits”(amendment), “Accounting Standard for Business Enterprises No. 30 – Presentation of Financial
Statements”(amendment), “Accounting Standard for Business Enterprises No. 33 – Consolidated Financial
Statements”(amendment), “Accounting Standard for Business Enterprises No. 37 – Presentation of Financial
Instruments”(amendment), “Accounting Standard for Business Enterprises No. 39 – Fair Value
Measurements”(amendment), “Accounting Standard for Business Enterprises No. 40 – Joint
Arrangements”(amendment), “Accounting Standard for Business Enterprises No. 41- Disclosure of Interests
in Other Entities”(amendment) etc. in 2014. The Company had made adjustments according to the
Accounting Standard for Business Enterprise issued and revised. The Company had changed the relevant
accounting policies according to the recent issued and revised Accounting Standards for Business Enterprises,
the influence of the amount during the reporting period due to the retrospective adjustment of changes of
accounting policies are as follows:
In RMB
The names of the affected items 2013-12-31
The contents and reasons for the changes of accounting policies
in the financial statements
According to the revised “Accounting Standard for Business Enterprises Long-term deferred expenses -386,191.87
No. 30 – Presentation of Financial Statements”, the amount needed to be
Non-current assets maturing
amortized within a year of long-term deferred expenses is adjusted to 386,191.87
within one year
non-current assets maturing within one year.
According to the revised “Accounting Standard for Business Enterprises Long-term equity investment -10,000,000.00
No. 2 – Long-Term Equity Investment”, the investments which are no
quoted price on an active market and whose fair value cannot be measured
Available-for-sale financial assets 10,000,000.00
reliably as well as the Company cannot exercise significant influence over
the investee are adjusted to available-for-sale financial assets.
2. Changes of accounting estimate
Main accounting estimate of the Company has no change in the Period
XII. Particular about major accounting errors correction that needs retroactive re-statement
in reporting period
□ Applicable √ Not applicable
No particular about major accounting errors correction that needs retroactive re-statement for the Company in the reporting.
XIII. Compare with last year’s financial report; explain changes in consolidation statement’s
scope
□ Applicable √ Not applicable
No changes in consolidation statement’s scope for the Company in the reporting.
司公限有份股心中游旅海东大南海 2014 文全告报度年
XIV. Profit and dividend distribution
Formulation, Implementation and Adjustment of Profit Distribution Policy Especially Cash Dividend policy
during the Reporting Period
□Applicable √Not applicable
Statement on Plan or Program of Profit Distribution and Capitalization of capital reserve in nearly Three Years (including the
reporting period)
According to the auditing reports issued by certified public accountants, the net income realized in nearly three
years (including the reporting period) was used to make up the losses in the previous year; the undistributed profit
during this reporting remained a minus. The Company did not take profit allocation nor capitalization of capital
reserve during the reporting period.
Cash dividend in latest three years
In RMB
Net profit Ratio in net profit
attributable to attributable to
Proportion of the
shareholders of shareholders of Amount reckoned amount reckoned
Year for bonus Amount for cash
listed company in listed company into cash bonus from into cash bonus
shares bonus (tax included)
consolidation contained in cash repurchase from cash
repurchase
statement for bonus consolidation
year statement
2014 0.00 2,503,486.47 0.00% 0.00 0.00%
2013 0.00 -2,199,319.96 0.00% 0.00 0.00%
2012 0.00 2,126,042.00 0.00% 0.00 0.00%
The Company gains profits in reporting period and the retained profit of parent company is positive but no plan of cash dividend
proposed
□ Applicable √ Not applicable
XV. Profit distribution plan and capitalizing of common reserves plan for the Period
□ Applicable √ Not applicable
The Company has no plans of cash dividend distributed, no bonus shares and has no share converted from capital reserve either for
the year
XVI. Social responsibility
√ Applicable □ Not applicable
The Company sets effectively fulfilling social responsibility as the core of its sustainable development, which is
the highest mission of the Company. In the process of operation and business development, The Company purists
its principle of energy saving, pollution minimization and cost effectiveness, conforms to the development of
nation and society in an all-around way, makes efforts to achieve the intercoordination of economic benefit and
social benefit, short-term interests and long-term interests, the Company’s development and social development to
realize a healthy and harmonious development of the Company and its employees, the Company and the society,
and the Company and its environment.
司公限有份股心中游旅海东大南海 2014 文全告报度年
The listed company and subsidiaries is in the range of heavy pollution industry that regulated by State environment protection
departments
□Yes √ No □Not applicable
The listed company and subsidiaries owes other major social safety issues
□Yes √ No □Not applicable
Problems and rectification
Administrative penalty occurred in reporting period
□Yes √ No □Not applicable
XVII. In the report period, reception of research, communication and interview
√ Applicable □ Not applicable
Main information discussed and
Date Place Way Type objects
material provided
Form January to Telephone
Sanya Individual Individual investor Operation situation of the
December in 2014 communication
Company, financial state, no
On-line group
2014-5-21 Haikou Individual Individual investor material provided
reception day
Reception (times)
Number of hospitality
Number of individual reception
Number of other reception
Disclosed, released or let out major undisclosed
No
information
司公限有份股心中游旅海东大南海 2014 文全告报度年
Section V. Important Events
I. Significant lawsuits and arbitrations of the Company
□Applicable √Not applicable
The Company has no significant lawsuits and arbitration in this year.
II. Questioned from media
□ Applicable √ Not applicable
No media questioned for the Company in reporting period
III. Non-operational fund occupation from controlling shareholders and its related party
□ Applicable √ Not applicable
No non-operational fund occupation from controlling shareholders and its related party in period period.
IV. Bankruptcy reorganization
□ Applicable √ Not applicable
No bankruptcy reorganization for the Company in reporting period
V. Assets transaction
1. Purchase of assets
□ Applicable √ Not applicable
No purchase of assets for the Company in reporting period
2. Assets sold
√ Applicable □ Not applicable
Net
profit
The Assets
contributed Ratio of net Credit
Tradin related rights
to the listed profit and
g Relat relations concern
Company Impact contributed liability Date
price Pricing ed hip(appl ed
Coun Assets Sales from the on by the sold concern of
terpar sold (in 10 princip transa icable transferr Index of disclosure
ty date begin of the Compa assets for ed disclo
thousa al ction for ed
reporting ny listed shifted sure
nd or not related ownersh
to the sales company in fully or
Yuan) transacti ip fully
date(in 10 total profit not
on) or not
thousand
Yuan)
司公限有份股心中游旅海东大南海 2014 文全告报度年
9.09 Resolution No.:
Hain percent 2014-045; Notice
an equity Gains 2 name “Announcement
Shen of million of Equity Transfer”;
gyan Haikou 2014 Yuan Market Not 2014- released on Securities
Inves Luonius -12-8 1,200 200 investm 79.89% price No applicab Yes Yes 12-09 Times, Hong Kong
tment han ent le Commercial Daily
Co., Petty earning and Juchao Website
Ltd. Loan s (http://www.cninfo.co
Co., m.cn) dated 9
Ltd. December 2014
3. Enterprise merger
□ Applicable √ Not applicable
No enterprise merger for the Company in reporting period
VI. Implementation and its influence of equity incentive plan
□ Applicable √ Not applicable
No implementation of equity incentive plan for the Company in reporting period
VII. Material related transactions
1. Related transaction with daily operation concerned
√ Applicable □ Not applicable
Market
Amount Proportio Settlemen
Pricing price of Index
Type of Price of of related n to t method Disclo
Related Content of principles of
Related related related transactio amount of similar
relationsh related of related of related sure
party transactio transactio n (10 transactio transactio disclos
ip transaction transactio transactio date
n n thousand n or the
n n ure
Yuan) same type n
available
Same as
First the
Luoniush
majority Consumpt Accommodatio Market Market transactio
an Co., 7.66 0.38% - - -
sharehold ion n and catering price price n with
Ltd.
er non-relate
d party
Total -- -- 7.66 -- -- -- -- --
Details of returned large sales N/A
Essentiality and persistence of related trade, as
well as reason for choosing trading with related N/A
parties (not other traders in market)
Impact on individuality of listed companies from The daily relate transaction belongs to normal transaction in market, and has no
related trade influence on the Company
Dependence on related parties from the
N/A
Company, as well as related measurements
Predict on total amount of daily related trade on No differences
司公限有份股心中游旅海东大南海 2014 文全告报度年
the way in this period according to classification,
as well as actual implementation in reporting
period
2. Related transactions by assets acquisition and sold
□ Applicable √ Not applicable
No related transactions by assets acquisition and sold for the Company in reporting period
3. Main related transactions of mutual investment outside
□ Applicable √ Not applicable
No main related transactions of mutual investment outside for the Company in reporting period
4. Contact of related credit and debt
√ Applicable □ Not applicable
Whether exist non-operating contact of related credit and debt or not
√Yes □No
Balance of Amount of the
Whether exist Balance at
period-begin period
Related Type of credit and Resulted non-operation period-end (in
Related party (in 10 occurrence (in
relationship debt reason al capital 10 thousand
thousand 10 thousand
occupying Yuan)
Yuan) Yuan)
First
Debt payable to Current
Luoniushan Co., Ltd majority Yes 80 80
related party account
shareholder
Influence on operation result and
financial statue of the Company from N/A
related credit and debts
5. Other related transactions
□ Applicable √ Not applicable
No other related transactions for the Company in reporting period
VIII. Major contract and implantation
1. Trusteeship, contract and leasing
(1) Trusteeship
□ Applicable √ Not applicable
No trusteeship for the Company in reporting period
(2) Contract
□ Applicable √ Not applicable
No contract for the Company in reporting period
(3) Leasing
司公限有份股心中游旅海东大南海 2014 文全告报度年
□ Applicable √ Not applicable
No leasing for the Company in reporting period
2. Guarantee
□ Applicable √ Not applicable
No guarantee for the Company in reporting period
3. Other material contracts
□ Applicable √ Not applicable
No other material contracts for the Company in reporting period
4. Other material transaction
□ Applicable √ Not applicable
No other material transactions for the Company in reporting period
IX. Implementation of commitment
1. Commitments from the Company or shareholder with over 5% share held in reporting period or
continues to reporting period
√ Applicable □ Not applicable
Commitment Commitment
Commitments Accepter Contents Implementation
time period
The largest seeking Till now,
shareholder of acquisition appropriate
Commitments for Within 3
the Company partners to take 2014-06-27 acquisitions
Share Merger Reform years
Luoniushan Co., asset partner hasn’t
Ltd restructuring been found.
Commitments in report of acquisition or
equity change
Commitments in assets reorganization
Commitments make in Initial public offering
or re-financing
Other commitments for minority shareholders
Implemented commitments on time (yes or
No
no)
Detail reasons for un-complement and further
plan N/A
司公限有份股心中游旅海东大南海 2014 文全告报度年
2. Concerning assts or project of the Company, which has profit forecast, and reporting period still in
forecasting period, explain reasons of reaching the original profit forecast
□ Applicable √ Not applicable
X. Appointment and non-reappointment (dismissal) of CPA
Accounting firm appointed
Name of domestic accounting firm BDO CHINA Shu Lun Pan Certified Public Accountants LLP
Remuneration for domestic accounting firm (in 10
thousand Yuan)
Continuous life of auditing service for domestic
accounting firm
Name of domestic CPA Liu Zebo, Zhu Meirong
Whether re-appointed accounting firms in this period or not
□Yes √No
Appointment of internal control auditing accounting firm, financial consultant or sponsor
√ Applicable □ Not applicable
On 21 May 2014, the Company holding the fist meeting of 8th session of the Board, and decided to appointed
BDO CHINA Shu Lun Pan Certified Public Accountants LLP as the auditing institute of the internal control for
year of 2014 and the decision has been deliberated and approved in first extraordinary general meeting of 2014.
During the period, auditing fee 80,000 Yuan in total has been paid to the institute for internal control auditing
XI. Explanation from Supervisory Committee and Independent Directors (if applicable) for
“Qualified Opinion” from the CPA
□ Applicable √ Not applicable
XII. Penalty and rectification
□ Applicable √ Not applicable
No penalty and rectification for the Company in reporting period.
XIII. Suspension and delisting after disclosure of annual report
□ Applicable √ Not applicable
XIV. Explanation on other significant events
□ Applicable √ Not applicable
No explanation on other significant events for the Company in reporting period.
司公限有份股心中游旅海东大南海 2014 文全告报度年
XV. Significant events of the subsidiaries
□ Applicable √ Not applicable
XVI. Corporate bond offering
□ Applicable √ Not applicable
司公限有份股心中游旅海东大南海 2014 文全告报度年
Section VI. Changes in Shares and Particulars about Shareholders
I. Changes in shares
1. Changes in shares
In shares
Before change Increase/decrease in this time (+ , - ) After change
Capitali
Bonu zation
New
Amount Ratio s of Other Subtotal Amount Ratio
issue
share public
reserve
I. Restricted shares 16,529,200 4.54% -994,000 -994,000 15,535,200 4.27%
1. State-owned shares
2. State-owned corporate
3,953,400 1.09% -924,000 -924,000 3,029,400 0.83%
shares
3. Other domestic shares 12,575,800 3.45% -70,000 -70,000 12,505,800 3.43%
Including: Domestic legal
12,373,800 3.40% 0 0 12,373,800 3.40%
person shares
Domestic natural person
202,000 0.06% -70,000 -70,000 132,000 0.04%
shares
II. Unrestricted shares 347,570,800 95.46% 994,000 994,000 348,564,800 95.73%
1. RMB common shares 259,570,800 71.29% 994,000 994,000 260,564,800 71.56%
2.Domestically listed
88,000,000 24.17% 0 0 88,000,000 24.17%
foreign shares
III. Total shares 364,100,000 100.00% 364,100,000 100.00%
Reasons for share changed
√ Applicable □ Not applicable
In the process of subsequent work of share-trading reform of the Company, according to relevant regulations the
release procedures were in process and part of the shareholders handling the payment of account paid in advance.
Thus, the share structure changes in the report period but retained the same in total share capital.
Approval of share changed
□ Applicable √ Not applicable
Ownership transfer of share changed
□ Applicable √ Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common
司公限有份股心中游旅海东大南海 2014 文全告报度年
shareholders of Company in latest year and period
□ Applicable √ Not applicable
Other information necessary to disclose for the Company or need to disclosed under requirement from security regulators
□ Applicable √ Not applicable
2. Changes of restricted shares
√ Applicable □ Not applicable
In Share
Number of
shares Number of Number of Number of
restricted shares new shares shares Restriction
Shareholders’ name Released date
at released in restricted in restricted at reasons
Period-beg the Year the Year Period-end
in
Legal
Yangpu Tongrong Investment After remove restricted
4,420,800 0 0 4,420,800 commitment in
Management Consultation Co., Ltd. procedures complete
share reform
Legal
Sanya Zhongxing Development Co., After remove restricted
2,541,000 0 0 2,541,000 commitment in
Ltd. procedures complete
share reform
Legal
After remove restricted
Sanya Real Estate Valuation Agent 924,000 0 0 924,000 commitment in
procedures complete
share reform
Hainan Hong Kong-Macao Legal
After remove restricted
International Trade Development Co., 924,000 0 0 924,000 commitment in
procedures complete
Ltd. share reform
Legal
Haikou Dongfang Urban credit After remove restricted
924,000 0 0 924,000 commitment in
Cooperative procedures complete
share reform
Legal
Hainan Branch of Bank of After remove restricted
924,000 0 0 924,000 commitment in
Communications Co., Ltd. procedures complete
share reform
Legal
Guangzhou Dongzhan Industrial Co. After remove restricted
924,000 0 0 924,000 commitment in
LTD procedures complete
share reform
Legal
Shenyang Jin’an Industrial After remove restricted
831,600 0 0 831,600 commitment in
Corporation procedures complete
share reform
Legal
After remove restricted
Hainan Dadonghai Tourism Co. 739,200 0 0 739,200 commitment in
procedures complete
share reform
司公限有份股心中游旅海东大南海 2014 文全告报度年
Legal
Hainan Dongda Ocean Transport After remove restricted
660,000 0 0 660,000 commitment in
Company procedures complete
share reform
Legal
Guangzhou Company of Hainan After remove restricted
660,000 0 0 660,000 commitment in
International Investment Co., Ltd. procedures complete
share reform
Legal
Southern Industrial and Trading After remove restricted
660,000 0 0 660,000 commitment in
Corporation procedures complete
share reform
Legal
Beijing Xueli Clothing Accessories After remove restricted
132,000 0 0 132,000 commitment in
Co., Lt.d procedures complete
share reform
Legal
After remove restricted
Xiao Tiefeng 132,000 0 0 132,000 commitment in
procedures complete
share reform
Legal
Sanya Wangli Building Materials After remove restricted
92,400 0 0 92,400 commitment in
Sales procedures complete
share reform
Legal
After remove restricted
Hainan Nongkeng Sanya Timber Mill 46,200 0 0 46,200 commitment in
procedures complete
share reform
Tao Fumin 70,000 70,000 0 0 - -
Haina Zhongjin Industry&Trade
924,000 924,000 0 0 - -
Company
Total 16,529,200 994,000 0 15,535,200 -- --
II. Securities issue and listing
1. Previous security offering in latest three years at period-end
□ Applicable √ Not applicable
2. Changes of total shares and shareholders structure as well as explanation on changes of assets and
liability structure
□ Applicable √ Not applicable
3. Existing internal staff shares
□ Applicable √ Not applicable
司公限有份股心中游旅海东大南海 2014 文全告报度年
III. Shareholders and actual controller
1. Number of shareholders of the Company and share-holding
In shares
Total preference
Total common
shareholders with
shareholders at end of
Total common shareholders in
20,901 the 5th trading day 21,150 voting rights
reporting period-end
before annual report
disclosed recovered at end of
reporting period
Particulars about shares held above 5% by shareholders or top ten shareholders
Total Number of shares
Amount
shareholder pledged/frozen
Proportio Changes of Amount of
Nature of n of s at the
Full name of Shareholders in report restricted unrestricted
shareholder shares end of State of
held period shares shares held Amount
report share
held
period
Domestic non
Luoniushan Co., Ltd. state-owned 16.81% 61,190,270 0 0 61,190,270
corporate
Domestic nature
Pan Guoping 8.26% 30,079,791 -2949792 0 30,079,791 Pledged 30,000,000
person
China Everbright Securities (HK)
Foreign corporate 7.28% 26,502,424 18294740 0 26,502,424
Limited
Domestic non
Construction Investment CITIC
state-owned 1.27% 4,620,000 0 0 4,620,000
Assets Management Co., Ltd.
corporate
Domestic non
Yangpu Tongrong Investment
state-owned 1.21% 4,420,800 -5729282 4,420,800
Management Consultation Co., Ltd.
corporate
CITRINE CAPITAL LIMITED Foreign corporate 0.90% 3,265,200 0 0 3,265,200
Domestic non
Sanya Yongli Investment Co., Ltd. state-owned 0.75% 2,714,110 -4215890 0 2,714,110
corporate
Domestic non
Sanya Zhongxing Development Co.,
state-owned 0.70% 2,541,000 0 2,541,000
Ltd.
corporate
Domestic non
Sanya Rural Credit Cooperative state-owned 0.63% 2,310,000 0 0 2,310,000
corporate
司公限有份股心中游旅海东大南海 2014 文全告报度年
Yunnan International Trust Co., Ltd.
– Yuxin Grouth No. 2014-10 Group Other 0.58% 2,100,000 0 0 2,100,000
Capital Trust Plan
Strategy investors or general legal person becomes top
N/A
10 shareholders due to rights issued
The Company is unknown whether there exists associated relationship or belongs
Explanation on associated relationship or accordant to the consistent actor regulated by the Management Measure of Information
action among the aforesaid shareholders Disclosure on Change of Shareholding for Listed Company among the other
shareholders.
Particular about top ten shareholders with un-restrict shares held
Type of shares
Shareholders’ name Amount of unrestricted shares held at period-end
Type Amount
RMB common
Luoniushan Co., Ltd. 61,190,270 61,190,270
share
Domestically listed
Pan Guoping 30,079,791 30,079,791
foreign share
Domestically listed
China Everbright Securities (HK) Limited 26,502,424 26,502,424
foreign share
Domestically listed
CITRINE CAPITAL LIMITED 3,265,200 3,265,200
foreign share
RMB common
Sanya Yongli Investment Co., Ltd. 2,714,110 2,714,110
share
RMB common
Sanya Rural Credit Cooperative 2,310,000 2,310,000
share
Yunnan International Trust Co., Ltd. – Yuxin Grouth RMB common
2,100,000 2,100,000
No. 2014-10 Group Capital Trust Plan share
Domestically listed
JP MORGAN INTERNATIONAL BANK LIMITED 2,039,071 2,039,071
foreign share
RMB common
FOTIC 1,850,101 1,850,101
share
RMB common
Zhongshan Industrial Group Co., Ltd. 1,848,000 1,848,000
share
Expiation on associated relationship or consistent actors The Company is unknown whether there exists associated relationship or belongs
to the consistent actor regulated by the Management Measure of Information
within the top 10 un-restrict shareholders and between
Disclosure on Change of Shareholding for Listed Company among the other
top 10 un-restrict shareholders and top 10 shareholders
shareholders.
Explanation on shareholders involving margin business
about top ten common shareholders with un-restrict N/A
shares held
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement
司公限有份股心中游旅海东大南海 2014 文全告报度年
dealing in reporting period
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy-back
agreement dealing in reporting period.
2. Controlling shareholder of the Company
Corporation
Legal
Date Organization
Controlling shareholder rep./person in Register capital Main business
established code
charge of unit
Plantation and cultivation industry;
industrial investment; real estate
development and management; decoration;
processing and sales of agricultural products,
animal products, aquatic products as well as
fodder(branch of the Company operates with
certificate only); sales of parts of cars and
motorcycles, electronics, metallic materials
(franchised excluded), chemical products
(franchised excluded), household appliances,
Luoniushan Co., Ltd. Xu Zili 1987-12-19 28408974-7 880,132,000.00 modern office supplies, sporting goods,
general merchandise, building material,
agricultural and sideline products;
development and construction of trading
market; rental service and warehouse
service. ( self-employed the general
business, relevant license or approval license
should prevail for the licensing projects)(as
for the approval projects that pursuant to the
law, operation activities should be carried
out after relevant authorities approved)
Future development Found more details in full text of Annual Report 2014 of Luoniushan Co., Ltd.(Short form of the stock:
strategy Luoniushan, Stock code: 000735)
Operation result,
Found more details in full text of Annual Report 2014 of Luoniushan Co., Ltd.(Short form of the stock:
financial status, cash flow
Luoniushan, Stock code: 000735)
etc.
Equity of other
domestic/foreign listed
company with share
Found more details in full text of Annual Report 2014 of Luoniushan Co., Ltd.(Short form of the stock:
controlling and share
Luoniushan, Stock code: 000735)
participation by
controlling shareholder in
reporting period
Changes of controlling shareholder in reporting period
□ Applicable √ Not applicable
No changes of controlling shareholder for the Company in reporting period
司公限有份股心中游旅海东大南海 2014 文全告报度年
3. Actual controller of the Company
Natural person
Whether obtained right of residence of other countries
Name of actual controller Nationality
or regions or not
Xu Zili P.R.C No
Xu Zili, male, was born in 1966, is a senior engineer with a master degree. He
successively served as Vice President of Hubei Huangshi Mine Bureau Machinery;
General Manager of Haikou Animal Husbandry Machinery Engineering Co., Ltd.;
Chairman of Tianjin Baodi Agricultural Technology Co., Ltd.; Vice Chairman and
Profession and title in latest five years General Manager of the Company from August 2006 to November 2011; serves as
Chairman of the Company since November 2011; he took as the 6th CPPCC member
of Hainan Province, the 13th session of the standing committee of CPPCC of Haikou
City, the deputy chairman of national federation of industry and agriculture industry
chamber of commerce and the deputy chairman of Hainan Entrepreneur Society.
Listed company in and out of China
N/A
controlled in past decades
Changes of actual controllers reporting period
□ Applicable √ Not applicable
No changes of actual controllers for the Company in reporting period
Property right and controlling relationship between the actual controller and the Company is as follow:
Xu Zili
90%
Hainan Huijia Investment Development Co., Ltd.
71.84%
Hainan Liqin Investment Co., Ltd
24.78% 62.85% 50.83% 80% 45%
20%
Luoniushan Haikou Yongsheng Livestock Hainan Shengxing Hainan Guangxiang
Group Co., Ltd. Machinery Engineering Co., Ltd. Trade Co., Ltd. Trade Co., Ltd.
55%
10.92% 3.14% 1.64% 0.82%
Luoniushan Co., Ltd.
16.81%
Hainan Dadonghai Tourism Center (Holding) Co., Ltd.
司公限有份股心中游旅海东大南海 2014 文全告报度年
Actual controller controlling the Company by entrust or other assets management
□ Applicable √ Not applicable
4. Particulars about other legal person shareholders with over 10% shares held
□ Applicable √ Not applicable
IV. Share holding increasing plan proposed or implemented in reporting period from
shareholder of the Company and its concerted action person
□ Applicable √ Not applicable
As far as the Company known, there are no shareholders of the Company and their concerted action people propose or implement
overweight in the Period
司公限有份股心中游旅海东大南海 2014 文全告报度年
Section VII. Preferred Stock
□ Applicable √ Not applicable
The Company had no preferred stock in the reporting.
司公限有份股心中游旅海东大南海 2014 文全告报度年
Section VIII. Particulars about Directors, Supervisors and Senior
Executives and Employees
I. Changes of shares held by directors, supervisors and senior executives
Shares Increasing Decreasing
Shares
Worki held at shares shares held
Start dated of office End date of office held at
Title ng Sex Age period-be held in in this
Name term term period-en
status gin this period period
d(Share)
(Share) (Share) (Share)
Curre
Li Chairman, General ntly
M 64 2001-10-25 2017-05-22 0 0 0
Yuanbin Manager in
office
Curre
Zhao ntly
Independent Director F 62 2014-05-22 2017-05-22 0 0 0
Man in
office
Curre
Tang ntly
Independent Director M 50 2014-05-22 2017-05-22 0 0 0
Guoping in
office
Curre
Leng
ntly
Mingqua Independent Director M 59 2014-05-22 2017-05-22 0 0 0
in
n
office
Curre
ntly
Li Wei Director M 53 2002-06-16 2017-05-22 0 0 0
in
office
Curre
Liu ntly
Director M 46 2002-06-16 2017-05-22 0 0 0
Juntao in
office
Curre
Chairman of
Huang ntly
supervisory M 45 2002-06-16 2017-05-22 0 0 0
Wencai in
committee
office
Curre
Wang Supervisor F 48 2011-06-16 2017-05-22 0 0 0
ntly
司公限有份股心中游旅海东大南海 2014 文全告报度年
Jialing in
office
Curre
Liu ntly
Supervisor M 38 2014-05-22 2017-05-22 0 0 0 0
Xianghai in
office
Curre
Chen ntly
CFO F 50 2014-10-18 2017-05-22 0 0 0 0
Zhen in
office
Curre
Vice president &
Wang ntly
Hongjua secretary of the F 38 2008-04-27 2017-05-22 0 0 0 0
n in
Board
office
Leave
Chen
Independent Director the M 69 2009-05-21 2014-05-22 0 0 0 0
Rijin
post
Li Leave
Guangzh Independent Director the M 68 2008-06-05 2014-05-22 0 0 0 0
ong post
Leave
Feng
Independent Director the M 67 2008-06-05 2014-05-22 0 0 0 0
Daan
post
Leave
Li Zhi Supervisor the M 34 2008-06-05 2014-05-22 0 0 0 0
post
Vice president & Leave
Chen
person in charge of the M 50 2001-06-01 2014-09-02 0 0 0 0
Liurong
fianace post
Total -- -- -- -- -- -- 0 0 0 0
II. Post-holding
Major working experience of directors, supervisors and senior executive at the present in latest five years
Directors
Mr. Li Yuanbin: born in June 1950, Han nationality, Master degree, MBA degree, senior engineer. He once held
the position of Chairman of Board of Haikou Haiyuan Co. Ltd and Yangpu Tiandi Sunshine Industry Co., Ltd,
director and general manager of the Company, now he is chairman of the Board and general manager, vice
chairman of Hainan Entrepreneurs’ Association, and permanent member of Hainan Federation of Industry
Chamber of Industry & Commerce and Vice-president of Hainan Provincial Association for Beverages Hotels and
Food, and Vice-president of Hubei Commerce Association in Hainan Province.
Mr. Liu Juntao: born in Oct. 1968, Han nationality, undergraduate degree, economist. Mr. Liu once held the
司公限有份股心中游旅海东大南海 2014 文全告报度年
position of deputy director of Construction Bank branch, secretary of the Board of Director of Luoniushan Co.
Ltd., Deputy General Manager of the Company and Deputy General Manager of Softto Co., Ltd., Secretary of the
Board of Tianmao Industry Group Co., Ltd., currently hold the post of Assistant of GM and secretary of the Board
of Tianping Auto Insurance Co., Ltd. Serve as the director of the Company since 2002.
Mr. Li Wei: born in Sep. 1961, Master Degree, CPA, Party member. Mr. Li once held the position of finance
director of Yingshan County Silk Making Plant, director and vice director of Yingshan county auditing office,
bailiff of Yingshan county Chengguan county, supervisor of Hainan Province Internal Auditing Institute, he held
the position of deputy general manager and finance officer. Now, he serves as GM of Sanya Haiya Toutism Co.,
Ltd. right now; he held the position of director of the Company since 2002.
Independent Directors
Ms. Zhao Man, born in Feburary 1952, member of the CPC, Doctor of Economic, a professor and doctorial tutor.
Professional affiliations so far: member of social sciences commission of the Ministry of Education, committee
of experts member of the MHRSS, committee of experts member of the Ministry of Civil Affairs, director of
academic council of the Center for Social Security Study of Wuhan University, the key research center for social
sciences by CECC, standing director of The China Association for Labor Studies, standing director of China
Social Insurance Association, member of Advisory Committee of Hubei Provincial Peoples Government,
decision-support expert of CPC Hubei Provincial Committee, consultant expert of budget expert group for the
Wuhan People’s Congress Standarding Committee and member of Expert Consultation Committee of CPC
Hubei Provincial Committee Organization Department. Now she serves as independent director of hubei Kaile
Technology Co., Ltd. and she took post as independent director of the Company since May 2014.
Mr. Leng Mingquan, born in April 1955, on-job graduate and Master of Administration. He was secretary and
section chief of CPC Suizhou Municipal propaganda Department and director of Haikou Office of the Suizhou
Government. Now he serves as executive vice president, secretary and legal representative of the Confederation
of Hainan Enterprise and Hainan Association of Enterpreneurs; executive chairman of Hainan labor relations
tripartie meeting; inspector of Hainan Procuratorate; police-style inspector of Hainan Provincial Public Security
Department; specially-invited inspector of Hainan Provincial Supervision Department; member of Hainan
Provincial Literature Dederation; member of Hainan Federation of Social Science; member of Hainan Provincial
Arbitration Committee; director of Hainan Enterprise Credit Evaluation Administration; Chairman of Hainan
Dashun Movie & TV Cultrual Communication Co., Ltd.; independent director of Hainan Yedao Group and
independent director of Haima Automobile Gourp Co., Ltd. He serves as independent directors of the Company
since May 2014.
Mr. Tang Guoping,born in August 1964, hold Doctor degree, a professor, Chinese CPA and member of CPC.
Now he serves as dean of the MBA school of Zhongnan University of Economics and Law, and he took
member of a council of China Accounting Society, standing director of Hubei Provincial Accounting Society,
and also took independent directos of Boai NKY Pharmaceuticals Ltd, Tongling Trinity Technology Co., Ltd.
and Wuhan Boiler Company Limited. He serves as independent directors of the Company since May 2014.
司公限有份股心中游旅海东大南海 2014 文全告报度年
Supervisors
Mr. Huang Wencai: was born in Jan. 1969, undergraduate degree, Mr. Huang once held the position of vice
director of Haikou meat association factory, director of Haikou food Co. Ltd. and assistant of general manager of
Haikou food Co. Ltd., deputy GM of Haikou Luoniushan Food Processing Co., Ltd. and currently held the post of
deputy GM of Hainan Luoniushan Meat Co., Ltd.; he held the position of Chairman of Supervisory Committee of
the Company since 2002.
Ms. Wang Jialing: was born in Feb. 1966, once served as accountant of financial dept of the Company; she serves
as staff supervisor of the Company since 2011.
Mr. Liu Xianghai, born in April 1976, member of CPC, a senior accountant and senior economist; he was the
manager of finance department ( finance manager) of Shandong Highway & Bridge Construction Co., Ltd., and
CFO of the Haikou Xinxi Trading Co., Ltd. He serves as employee supervisor of the Company since May 2014.
Ms. Chen Zhen, born in July 1964, hold Master’s degree, NBA, senior accountant, served as cashier, accountant,
chief of financial office of Hainan Port Authority, Haikou Port; vice director of finance department and
accountant of Haikou Port Group Co., Ltd.; deputy chief accountant, senior accountant of head office of Hainan
Harbore & Shiping Holding Co., Ltd. She serves as CFO of the Company since October 2014.
Ms. Wang Hongjuan, was born in Feb. 1976, Undergraduate Degree, an attorney; she serves as supervisor of the
Company and Office Director, now she serves as vice president and secretary of the Board of the Company.
Post-holding in shareholder’s unit
□Applicable √Not applicable
Post-holding in other unit
□Applicable √Not applicable
III. Remuneration for directors, supervisors and senior executives
Decision-making procedures, determine basis and actual payment of remuneration for directors, supervisors and senior executives
1. Pursuant to the Company''s Articles of Association, the pay of directors, supervisor personnel are approved by
general meeting after the review of the board of directors and board of supervisors respectively; the pay of senior
management is approved by the board. Directors, supervisors and senior managers get their payment
corresponding to their post provided by the general meeting and the board meeting.
2. In line with performance of their duties, directors, independent directors and supervisors should receive the
reimbursement from the Company on travel expense and Articles of Association implementation expense.
Remuneration for directors, supervisors and senior executives in reporting period
In ten thousand Yuan
Post-holdin Total remuneration Total remuneration Remuneration actually
Name Title Sex Age
g status obtained from the obtained from obtained at period-end
司公限有份股心中游旅海东大南海 2014 文全告报度年
Company shareholder’s unit
Li Chairman, General Currently
M 64 31.09 0 31.09
Yuanbin Manager in office
Zhao Independent Currently
F 62 2.4 0 2.4
Man Director in office
Tang
Independent Currently
Guopin M 50 2.4 0 2.4
Director in office
g
Leng
Independent Currently
Mingqu M 59 2.4 0 2.4
Director in office
an
Currently
Li Wei Director M 53 3.6 0 3.6
in office
Liu Currently
Director M 46 3.6 0 3.6
Juntao in office
Chairman of
Huang Currently
supervisory M 45 1.8 0 1.8
Wencai in office
committee
Wang Currently
Supervisor F 48 7.85 0 7.85
Jialing in office
Liu
Currently
Xiangha Supervisor M 38 5.29 0 5.29
in office
i
Chen Currently
CFO F 50 3.19 0 3.19
Zhen in office
Wang Vice president and
Currently
Hongju Secretary of the F 38 21.3 0 21.3
in office
an Board
Deputy GM and
Chen Leave the
person in charge of M 50 17.88 0 17.88
Liurong post
the Financial
Chen Independent Leave the
M 69 1.2 0 1.2
Rijin Director post
Li
Independent Leave the
Guangz M 68 1.2 0 1.2
Director post
hong
Feng Independent Leave the
M 67 1.2 0 1.2
Daan Director post
Li Zhi Supervisor M 32 Leave the 3.46 0 3.46
司公限有份股心中游旅海东大南海 2014 文全告报度年
post
Total -- -- -- -- 109.86 0 109.86
Delegated equity incentive for directors, supervisors and senior executives in reporting period
□ Applicable √ Not applicable
IV. Post-leaving and dismissals for directors, supervisors and senior executives
Name Title Type Date Reasons
Leave the post
Chen Rijin Independent Director while office 2014-05-22 Terms of office expired
terms expired
Leave the post
Feng Daan Independent Director while office 2014-05-22 Terms of office expired
terms expired
Leave the post
Li
Independent Director while office 2014-05-22 Terms of office expired
Guangzhong
terms expired
Leave the post
Li Zhi Supervisor while office 2014-05-22 Terms of office expired
terms expired
Deputy GM and
Chen Liurong person in charge of Leave the post 2014-09-02 Leave the post for personal reason
the Financial
V. Changes of core technology team or key technicians in reporting period (not including
directors, supervisors and senior executives)
Nil
VI. Employees of the Company
In reporting period, the Company owes 162 personnel in total, including 97 service staff, 18 financial staff, 20
technician, 7 sales personnel and 20 administration staff.
1. Education background of employees:
Category of education degree Educational background
Master 2 people
Undergraduate 10 people
Junior college 26 people
Junior college below 124 people
Total 162 people
司公限有份股心中游旅海东大南海 2014 文全告报度年
2. Pie chart of educational background:
3. Employee Pay Policy: The Company sets up a pay system compatible with the post and promotion system,
adopting post wage system. Wages are decided to post for personnel in service, technology, marketing,
management, administration, etc, and rewards given to departments’ and individual performance at the end of the
year.
4.Training Program: Pursuant to business and management need, the Company made staff recruitment and
training plan at the beginning of this year, scheduled to organize relevant personnel to take department training
and internal professional training, put special emphasis on job skills training through which special post operators
got relevant certificates to ensure production and operation safety and good running.
5. The company does not need to bear the cost of personnel retiring from positions.
司公限有份股心中游旅海东大南海 2014 文全告报度年
Section IX. Corporate Governance
I. Brief introduction about corporate governance
During reporting period, the Company further completed governance structure and system, perfected internal
control mechanism and system construction and normalized corporate operation, strictly in accordance with
relative rules and regulations of the Company Law, Securities Law and Listing Rules. Till end of reporting period,
governance structure of the Company is basically in line with requirement of the Governance Rules of Listed
Company.
1. During the reporting period, the Company’s general meeting, board meeting and supervisors meeting exercised
the decision rights, execution rights and supervision rights respectively with clear responsibilities, mutual restrict,
operation specification and effective operation. The procedures of meeting holding, proposal review, and
decision-making in these three meetings were in compliance with relevant provisions. The board meeting
comprises strategy and development committee, audit committee, nomination committee, remuneration and
appraisal committee, who carry out smoothly their duties accordingly to their working conditions, providing a
strong support for the board meeting’s major scientific management decision.
2. In strict accordance with the requirements of Rules Governing the Listing of Stock, directors performed its
duties with honest, trust, diligence and independence, protected the legitimate rights and interests of minority
shareholders with loyalty to their interests; Supervisors effectively supervised and checked independent directors,
senior management and their financial situations.
Whether there are differences between the corporate governance and the \"Company Law\" and the relevant provisions of China
Securities Regulatory Commission
□ Yes √ No
There were no significant differences in corporate governance and the \"Company Law\" and the relevant provisions of China
Securities Regulatory Commission.
Developing Conditions of Special Corporate Governance Activities & Formulation and Implementation of Insider
Registration Management System
During the reporting period, the Company strictly observed relevant provisions such as Company Law, Securities
Law, and Information Disclosure Regulation for Listed Companies, and CSRC Rules on Establishment of Insider
Registration Management System for Listed companies, the Company amended Insider Registration Management
System, which was carried out and implemented strictly. According to the requirements of CSRC Notice [2010]
no. 37, the company self-inspected the implementation of Insider Registration Management System. During the
reporting period, no case of investigation or rectification by supervision department on insider’s buying and
selling stocks prior to the disclosure major sensitive information which significantly influences the Company''s
share price.
司公限有份股心中游旅海东大南海 2014 文全告报度年
II. Annual shareholders’ general meeting and extraordinary shareholders’ general meeting
held in reporting period
1. Annual Shareholders’ General Meeting in the report period
Session of Name of Date of
Date Resolution Index of disclosure
meeting meeting motion disclosure
1. “work report of the Board for year of
2013”;
2. “work report of Supervisory
Committee for year of 2013”
3. “Annual report of 2013 and summary” The “Resolution Notice of
Annual Shareholders’ General
4. “Financial Statement for year of
Annual Meeting of 2013” (No.:
Annual 2013”;
shareholders 2014-016) published on
2014-05-2 shareholders’ 5. “Profit distribution plan for year of
’ general 2014-05-22 Securities Times, Hong Kong
1 general meeting 2013”;
meeting of Commercial Daily and Juchao
of 2013 6. “Accrual and charge off of Assets for
2013 website
impairment ”;
(http://www.cninfo.com.cn) dated
7. “proposal of re-engaged financial 22 May 2014 respectively
auditing institution”;
8. “general election of the Board”;
9. “general election of supervisory
committee”
2. Extraordinary shareholders’ general meeting in the report period
Session of Name of meeting
Date Situation Date of disclosure Index of disclosure
meeting motion
The resolution Notice ”resolution of 1st
1. “Proposal of
1st extraordinary general meeting for year of
re-engaged financial
extraordinary 1st extraordinary 2014” (No.: 2014-024) published on
auditing institution” ;
general 2014-06-10 general meeting 2014-06-11 Securities Times, Hong Kong
2. “proposal of
meeting for for year of 2014 Commercial Daily and Juchao website
revised Article of
year of 2014 (http://www.cninfo.com.cn) dated 11
Association”
June 2014
The resolution Notice ”resolution of 2nd
2nd ”proposal of extraordinary general meeting for year of
extraordinary 2nd extraordinary commitment changed 2014” (No.: 2014-031) published on
general 2014-06-27 general meeting by majority 2014-06-28 Securities Times, Hong Kong
meeting for for year of 2014 shareholder of the Commercial Daily and Juchao website
year of 2014 Company” (http://www.cninfo.com.cn) dated 28
June 2014
司公限有份股心中游旅海东大南海 2014 文全告报度年
3. Request for extraordinary general meeting by preferred stockholders whose voting rights restore
□ Applicable √ Not applicable
III. Responsibility performance of independent directors in report period
1. The attendance of Board meetings and shareholders’ general meeting for independent directors
Attendance of Board meetings for independent directors
Times of Board
Whether absent
meeting Times of Times of
Name of independent Times of present Times of the Meeting for
supposed to attending by entrusted
director in person Absence the second time
attend in the communication presence
in a row or not
report period
Zhao Man 7 0 7 0 0 No
Tang Guoping 7 0 7 0 0 No
Leng Mingquan 7 0 7 0 0 No
Times presented in shareholders’
general meeting by independent
directors
Explanation of absent the Board Meeting for the second time in a row
Nil
2. Objection for relevant events from independent directors
Whether independent directors come up with objection about company’s relevant matters or not
□ Yes √ No
Independent directors has no objections for relevant events in reporting period
3. Other explanation about responsibility performance of independent directors
Whether the opinions from independent directors have been adopted or not
√Yes □ No
Explanation on advice that accepted/not accepted from independent directors
Suggestion of re-enforce foreign capital introduction and good assets while operated currently main business with
purpose of change the single operation in main business; The Company has been working on it and no results
come at present.
IV. Responsibility performance of subordinate special committee of the Board in report
period
The board meeting comprises four special committees, who carry out smoothly their duties accordingly to their
working conditions, providing a strong support for the board meeting’s major scientific management decision.
Each special committee performed their duties as follows:
1. Audit Committee
During the reporting period, in the process of annual financial report auditing 2014 process, audit committee
司公限有份股心中游旅海东大南海 2014 文全告报度年
members worked in accordance with the relevant requirements by faithfully performing audit committee’s
responsibilities:
Before the entrance of annual examination certified public accountants, the audit committee members listened to
the management statements of the Company''s operating condition in 2014 and the financial status as well as the
report on annual financial report audit work arrangement of 2014, communicated with annual examination
certified public accountants about issues such as personnel structure of the working group, audit plan, risk
judgment, annual audit focus and so on; In early January 2015, in annual report audit process, audit committee
members listened to the work report by annual examination certified public accountants and the company
management; At the middle of January 2015, audit committee members reviewed submitted financial and
accounting reports. The financial and accounting reports audited was formatted strictly to Accounting Standards for
Business Enterprises and Accounting System for Business Enterprises, and this report fairly reflected the Company’s assets,
liabilities, rights and interests and operating situation without significant errors and omissions. The annual audit
report of 2014 by audit institutions was agreed to be submitted to the board.
The Company''s board of directors regarded that the external auditors Lixin Certified Public Accountants (special
ordinary partnership) faithfully performed the audit responsibility, and suggested to renew as the Company’s
annual financial audit of 2015.
2. Remuneration committee
During the reporting period, the remuneration committee members of the Company board carried out their duties
strictly to relevant regulations, inspected remuneration policies and programs for directors, supervisors and senior
managers, led the company to perfect the remuneration system, and appraised the performance of directors,
supervisors and senior management according to senior manager remuneration appraisal. By the end of the
reporting period, the Company has not implemented option scheme.
3. Strategy committee
During the reporting period, the board strategy committee put forward valuable opinions on decision-making such
as development planning and investment decisions, thus enhanced the scientific decision-making and core
competitiveness of the Company, improved the Company’s efficiency of major investment decisions and decision
quality.
4. Nomination committee
During the reporting period, the Company continue to hired Mr. Li Yuanbin as the GM of the Company, Mr.
Chen Liurong as deputy GM and financial administrator and Ms. Wang Hongjuan was engaged as deputy GM of
the Company as well as secretary of the Board with the same term as to 8th session of the Board. On 2 September
2014, former deputy GM and financial administrator Mr. Chen Liurong requested from the deputy GM and
financial administrator due to personal reasons, and Ms. Chen Zhen was engaged as CFO of the Company with
the same term as to 8th session of the Board.
V. Works from Supervisory Committee
Whether the Company has risks or not in reporting period that found in supervisory activity from supervisory committee
□ Yes √ No
Supervisory committee has no objections for the supervise matters in reporting period
VI. Independency of the Company relative to controlling shareholders’ in aspect of businesses,
personnel, assets, institution and finance
司公限有份股心中游旅海东大南海 2014 文全告报度年
Statement of Five Independences between the Company and the Controlling Shareholders
1. Business Independence: the Company business operates independently with integrated structure, and is free
from horizontal competition with controlling shareholders. The controlling shareholders do not intervene the
Company’s operation either directly or indirectly.
2. Personnel Independence, the Company is independent on controlling shareholders in the aspects of labor,
personnel and Remuneration management.
3. Assets Independence: the Company has proprietary rights and control rights on its assets. Controlling
shareholders occupy no assets or funds of the listed company.
4. Institution Independence: the company''s board of directors and board of supervisors, managers and other
internal institutions operate independently and manage independently with integrated structures.
5. Financial Independence: the Company has an independent financial sector, and sets up independent accounting
system and financial management system. The Company opens independent bank accounts and pay independent
taxes to laws without controlling shareholders’ intervention.
VII. Horizontal competition
□ Applicable √ Not applicable
VIII. Appraisal and incentive mechanism for senior executives
1. Pursuant to People-oriented Principle, the Company employs outstanding persons in long-term, and admits the
best candidates on the premise of openness, fairness, justice. Those who pass trial comprehensive appraisal and be
nominated by general managers and approved by the board meeting can be employed as senior management of the
Company.
2. The Company adopts a clear appraisal system in which assessment methods are made to the performance and
duty fulfillment of senior management. Assessments are carried out monthly and annually by the same level and
higher level and the results are taken as factors for post lift and rewards and punishment of senior management.
3. The company sets up effective incentive mechanism, including material incentives and spiritual incentives. The
clear rewards and punishments, balance between remuneration and work performance, survival of fittest
encourage senior management to make constantly progress and improve their own comprehensive ability which in
turn help the Company develop rapidly.
司公限有份股心中游旅海东大南海 2014 文全告报度年
Section X. Internal control
I. Construction of internal control
During the reporting period, in strictly accordance with Company Law, Securities Law, Rules Governing the
Listing of Stocks and other relevant laws, regulations and other normative documents requirements, the Company
has established a relatively perfect internal organization framework, and formulated some internal control systems,
formulated the Enterprise Risk Management and Internal Control Manual and established a more complete IC
mechanism. In the Articles of Association, the rights and obligations of general meeting, board of directors, board
of supervisors and managers are well-defined, which are executed strictly in the actual work. These are largely in
line with relevant provisions of Basic Norms of Enterprises Internal Control, Supporting Guidelines for Enterprise
Internal Control and Internal Control Guidelines for Listed Companies issued by Shenzhen stock exchange.
The Self-evaluation Report of IC for year of 2014 has been deliberated and approved by 4th meeting of 8th
session of the Board, more details can be found in Juchao Website.
II. Statement of the Board on responsibility for internal control
In line with the regulation mechanism of enterprise’ internal control, Board of the Company has responsibility to
established and improve its internal control and implemented internal control effectively, evaluate the
effectiveness and release the evaluation report of internal control strictly according to the facts. Supervisory
committee kept eyes on the implementation and establishment of internal control from the Board. Managers are
responsible for organizing and leading the daily running of the Company’s internal control. Board of the Company,
Supervisory Committee, Directors, Supervisors and Senior Executives guarantee that there are no any fictitious
statements, misleading statements or important omissions carried in the Report, and shall take all responsibilities,
individual and/or joint, for the reality, accuracy and completion of the whole contents.
The Company’s internal control aims at guarantee a legal operation management reasonably, assets safety, the real
and completion of the financial report and relevant information, improve the business results and achieve the
development strategy. Because of the inherent feature of internal control, reasonable assurance only can be
provided for the realization of the above mentioned targets. Furthermore, inappropriate internal control may be
resulted by the changes of conditions, or failure of controlling policy and procedures implementation, the validity
of internal control that calculated according to evaluation results of internal control has a certain risks.
III. Bases for establishment of financial report internal control
Pursuant to relevant state laws and regulations such as Accounting Law, Accounting Standard for Business
Enterprises, Norms of Enterprises Internal Control and supporting guidelines, the Company, combined with its
actual situation developed several systems such as Accounting System of the Company, Financial Management
System and Internal Audit System, and strictly implemented these systems. During the reporting period, no major
defect of internal control has been found in the financial report.
IV. Appraisal report of internal control
Details of major defects in appraisal report of internal control that found in reporting period
司公限有份股心中游旅海东大南海 2014 文全告报度年
No major defects being found in Internal Control during the Period
Date of appraisal report of internal
2015-01-31
control (full-text) disclosed
Index of appraisal report of internal Relevant information found in Self-evaluation Report of Internal Control for 2014 published
control (full-text) disclosed on Juchao Website dated 31 January 2015
V. Auditing report and authentication report of internal control
Auditing report of IC
Deliberation section of auditing report of IC
To All Shareholders of Hainan Dadonghai Tourism Center (Holdings) Co., Ltd.:
In accordance with Audit Guideline for Enterprise Internal Control and relevant requirement of the
practicing standards of Chinese Certified Public Accountant, we audited the effective-ness of the financial
report’s internal control for Hainan Dadonghai Tourism Center (Holdings) Co., Ltd. (the Company) dated 31
December 2014.
I. As for responsibility of internal control, the Company established and improved and implemented internal
control effectively pursuit to Basic Norms of Enterprises Internal Control, Supporting Guidelines for Enterprise
Internal Control and Evaluation Guild lines for Enterprises Internal Control, and board of the director is
responsible for evaluating its effectiveness.
II. Auditor’s responsibilities: Our responsibility is to express an opinion on the effectiveness of internal
control for the financial statements based on our audit. And disclosed major deficits of noted internal control
without financial statement concerned.
III. Inherent feature of internal control: the internal control has an inherent limitation, and exist mistakes
that can not prevent and being discovered. Moreover, the internal control might be inappropriate due to the
changes of conditions, or fails to follow the controlling policies and procedures, to speculate future effectiveness
of the internal control in line with the auditing result has a certain risks.
IV. Auditing opinion: in our opinion, the Company, in line with Basic Norms of Enterprises Internal Control
and relevant regulations, shows an effectiveness internal control of financial report in all major aspects dated 31
December 2014.
BDO CHINA Shu Lun Pan Certified Public Accountant of China:Liu Zebo
Certified Public Accountants LLP
Certified Public Accountant of China:Zhu Meirong
Shanghai, China January 29, 2015
Disclosure date of audit report
2015-01-31
of internal control (full-text)
Index of audit report of Relevant information found in Audit Report of Internal Control for 2014
internal control (full-text) published on Juchao Website dated 31 January 2015
Issued a modified audit opinions for internal control
司公限有份股心中游旅海东大南海 2014 文全告报度年
□Y √N
Auditing report of internal control issued by CPA shows the same opinion as self-evaluation report issued by the Board
√Y □N
VI. Establishment and enforcement of Accountability Mechanism for Major Errors in Annual
Report
The Company strictly enforced the Annual Report Disclosure Major Mistake Responsibility System. During the
reporting period, the Company has made no major accounting errors correction, no major information omissions
supplement or no earnings forecast correction.
司 公 限 有 份 股 心 中 游 旅 海 东 大 南 海
2014 文全告报度年
Section XI. Financial Report
I. Audit report
Type of audit opinion Standard unqualified opinion
Signing date of audit report 2015-01-29
Name of audit institute BDO CHINA Shu Lun Pan Certified Public Accountants LLP
Document serial of audit report PCPAR [2015] No.110108
Name of the CPA Liu Zebo, Zhu Meirong
Auditor’s Report
To All Shareholders of Hainan Dadonghai Tourism Center (Holdings) Co., Ltd.:
We have audited the accompanying financial statements of Hainan Dadonghai Tourism Center
(Holdings) Co., Ltd. (hereinafter referred to as “the Company”), which comprise the balance sheet
as at December 31, 2014, and the income statement, statement of cash flows and statement of
changes in owners’ equity for the year then ended, and notes to the financial statements.
(I) Management’s Responsibilities for the Financial Statements
Management of the Company is responsible for the preparation and fair presentation of these
financial statements. This responsibility includes: (1) preparing the financial statements in
accordance with the requirements of Accounting Standards for Business Enterprises to achieve a
fair presentation; (2) designing, implementing and maintaining internal control that is necessary to
ensure that the financial statements are free from material misstatements, whether due to frauds or
errors.
(II) Auditor’s Responsibilities
Our responsibility is to express an opinion on these financial statements based on our audit. We
conducted our audit in accordance with Auditing Standards for Certified Public Accountants in
China. Those standards require that we comply with professional and ethical requirements of
Chinese certified public accountants, and plan and perform the audit to obtain reasonable
assurance whether the financial statements are free from material misstatements.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor’s judgments,
including the assessment of the risks of material misstatements of the financial statements,
whether due to fraud or error. In making those risk assessments, we consider the internal control
relevant to the preparation and fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the internal control. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of accounting estimates made
by the management, as well as evaluating the overall presentation of the financial statements.
司 公 限 有 份 股 心 中 游 旅 海 东 大 南 海
2014 文全告报度年
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion.
(III) Opinion
In our opinion, the financial statements of the Company are prepared, in all material respects, in
accordance with Accounting Standards for Business Enterprises and present fairly the financial
position of the Company as at December 31, 2014 and its operating results and cash flows for the
year then ended.
BDO CHINA Shu Lun Pan Certified Public Accountant of China:Liu Zebo
Certified Public Accountants LLP
Certified Public Accountant of China:Zhu Meirong
Shanghai, China January 29, 2015
II. Financial Statement
Expressed in Renminbi unless otherwise stated
1. BALANCE SHEET
Prepared by HAINAN DADONGHAI TOURISM CENTER (HOLDINGS) CO., LTD.
2014-12-31 In RMB
Item Closing Balance Opening Balance
Current assets:
Monetary funds 22,550,289.54 6,835,685.46
Settlement funds
Lending funds
Financial liability measured by fair value and with variation
reckoned into current gains/losses
Derivative financial liability
Notes receivable
Accounts receivable 2,632,379.02 3,509,377.76
Prepayments 40,778.52 201,053.21
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance receivable
Interest receivable
司 公 限 有 份 股 心 中 游 旅 海 东 大 南 海
2014 文全告报度年
Dividends receivable
Other receivables 332,661.26 3,299,051.36
Purchase restituted finance asset
Inventories 307,057.29 317,334.23
Divided into assets held for sale
Non-current assets maturing within one year 196,354.90 386,191.87
Other current assets
Total current assets 26,059,520.53 14,548,693.89
Non-current assets:
Loans and payments on behalf
Available-for-sale financial assets 4,500,000.00 10,000,000.00
Held-to-maturity investments
Long-term receivables
Long-term equity investments
Investment real estate
Fixed assets 56,301,360.07 60,628,905.47
Construction in progress
Project materials
Disposal of fixed assets
Productive biological assets
Oil and natural gas assets
Intangible assets 27,220,117.68 28,586,908.43
Research and development costs
Goodwill
Long-term deferred expenses 196,354.90
Deferred tax assets
Other non-current assets
Total non-current assets 88,021,477.75 99,412,168.80
Total assets 114,080,998.28 113,960,862.69
Current liabilities
Short-term borrowings
Loan from central bank
Absorbing deposit and interbank deposit
Capital borrowed
Financial liability measured by fair value and with variation
司 公 限 有 份 股 心 中 游 旅 海 东 大 南 海
2014 文全告报度年
reckoned into current gains/losses
Derivative financial liability
Notes payable
Accounts payable 2,390,345.19 2,171,955.96
Accounts received in advance 1,360,245.91 1,599,994.81
Selling financial asset of repurchase
Commission charge and commission payable
Wage payable 3,451,674.05 3,549,851.04
Taxes payable -1,155,972.31 -1,164,999.99
Interest payable
Dividend payable
Other accounts payable 23,619,371.11 25,892,213.01
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Divided into liability held for sale
Non-current liabilities due within 1 year
Other current liabilities
Total current liabilities 29,665,663.95 32,049,014.83
Non-current liabilities:
Long-term loans
Bonds payable
Including: preferred stock
Perpetual capital securities
Long-term account payable
Long-term wages payable
Special accounts payable
Projected liabilities
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities
Total liabilities 29,665,663.95 32,049,014.83
Owners’ equity:
Share capita 364,100,000.00 364,100,000.00
Other equity instrument
司 公 限 有 份 股 心 中 游 旅 海 东 大 南 海
2014 文全告报度年
Including: preferred stock
Perpetual capital securities
Capital public reserve 54,142,850.01 54,142,850.01
Less: Inventory shares
Other comprehensive income
Reasonable reserve
Surplus reserve
Provision of general risk
Retained profit -333,827,515.68 -336,331,002.15
Total owner’s equity attributable to parent Company 84,415,334.33 81,911,847.86
Minority interests
Total owner’s equity 84,415,334.33 81,911,847.86
Total liabilities and owner’s equity 114,080,998.28 113,960,862.69
Legal Representative: Li Yuanbin Accounting Principal: Chen Zhen
Accounting Firm’s Principal: Liu Xianghai
2. Profit statement
In RMB
Item Current Period Last Period
I. Total operating income 20,202,134.10 23,660,779.80
Including: Operating income 20,202,134.10 23,660,779.80
Interest income
Insurance gained
Commission charge and commission income
II. Total operating cost 24,932,122.13 25,943,800.06
Including: Operating cost 337,785.89 7,841.74
Interest expense
Commission charge and commission expense
Cash surrender value
Net amount of expense of compensation
Net amount of withdrawal of insurance contract reserve
Bonus expense of guarantee slip
Reinsurance expense
司 公 限 有 份 股 心 中 游 旅 海 东 大 南 海
2014 文全告报度年
Operating tax and extras 1,135,598.54 1,334,203.53
Sales expenses 11,783,411.89 11,896,106.61
Administration expenses 11,423,202.87 12,463,470.06
Financial expenses 39,516.35 54,758.44
Losses of devaluation of asset 212,606.59 187,419.68
Add: Changing income of fair value(Loss is listed with “-”)
Investment income (Loss is listed with “-”) 4,020,000.00
Including: Investment income on affiliated Company and
joint venture
Exchange income (Loss is listed with “-”)
III. Operating profit (Loss is listed with “-”) -709,988.03 -2,283,020.26
Add: Non-operating income 3,220,345.27 125,394.92
Including: Disposal earnings of non-current asset 3,126,454.22 795.12
Less: Non-operating expense 6,870.77 41,694.62
Including: Disposal loss of non-current asset 6,870.77 40,494.62
IV. Total Profit (Loss is listed with “-”) 2,503,486.47 -2,199,319.96
Less: Income tax
V. Net profit (Net loss is listed with “-”) 2,503,486.47 -2,199,319.96
Net profit attributable to owner’s equity of parent Company 2,503,486.47 -2,199,319.96
Minority shareholders’ gains and losses
VI. Net after-tax of other comprehensive income
Net after-tax of other comprehensive income attributable to owners
of parent company
(I) Other comprehensive income items which will not be
reclassified subsequently to profit of loss
1. Changes as a result of re-measurement of net defined
benefit plan liability or asset
2. Share of the other comprehensive income of the
investee accounted for using equity method which will not be
reclassified subsequently to profit and loss
(II) Other comprehensive income items which will be
reclassified subsequently to profit or loss
1. Share of the other comprehensive income of the
investee accounted for using equity method which will be reclassified
subsequently to profit or loss
2. Gains or losses arising from changes in fair value of
available-for-sale financial assets
司 公 限 有 份 股 心 中 游 旅 海 东 大 南 海
2014 文全告报度年
3. Gains or losses arising from reclassification of
held-to-maturity investment as available-for-sale financial assets
4. The effect hedging portion of gains or losses arising
from cash flow hedging instruments
5. Translation differences arising on translation of foreign
currency financial statements
6. Other
Net after-tax of other comprehensive income attributable to minority
shareholders
VII. Total comprehensive income 2,503,486.47 -2,199,319.96
Total comprehensive income attributable to owners of parent
2,503,486.47 -2,199,319.96
Company
Total comprehensive income attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.0069 -0.0060
(ii) Diluted earnings per share 0.0069 -0.0060
Enterprise combine under the same control in the Period, the combined party realized net profit of 0 Yuan before
combination, and realized 0 Yuan at last period for combined party
Legal Representative: Li Yuanbin Accounting Principal: Chen Zhen
Accounting Firm’s Principal: Liu Xianghai
3. Cash flow statement
In RMB
Item Current Period Last Period
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor services 19,224,101.23 22,389,511.92
Net increase of customer deposit and interbank deposit
Net increase of loan from central bank
Net increase of capital borrowed from other financial institution
Cash received from original insurance contract fee
Net cash received from reinsurance business
Insured savings and net increase of investment
Net increase of amount from disposal financial assets that measured by fair value
and with variation reckoned into current gains/losses
Cash received from interest, commission charge and commission
司 公 限 有 份 股 心 中 游 旅 海 东 大 南 海
2014 文全告报度年
Net increase of capital borrowed
Net increase of returned business capital
Write-back of tax received
Other cash received concerning operating activities 3,825,887.33 857,713.68
Subtotal of cash inflow arising from operating activities 23,049,988.56 23,247,225.60
Cash paid for purchasing commodities and receiving labor service 4,327,919.22 5,186,782.24
Net increase of customer loans and advances
Net increase of deposits in central bank and interbank
Cash paid for original insurance contract compensation
Cash paid for interest, commission charge and commission
Cash paid for bonus of guarantee slip
Cash paid to/for staff and workers 8,787,810.43 7,479,198.86
Taxes paid 2,575,932.59 3,189,361.65
Other cash paid concerning operating activities 4,926,258.24 4,776,514.08
Subtotal of cash outflow arising from operating activities 20,617,920.48 20,631,856.83
Net cash flows arising from operating activities 2,432,068.08 2,615,368.77
II. Cash flows arising from investing activities:
Cash received from recovering investment 10,000,000.00
Cash received from investment income 4,020,000.00
Net cash received from disposal of fixed, intangible and other long-term assets 4,200.00 51,700.00
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities
Subtotal of cash inflow from investing activities 14,024,200.00 51,700.00
Cash paid for purchasing fixed, intangible and other long-term assets 167,410.00 1,026,052.00
Cash paid for investment 574,254.00 10,000,000.00
Net increase of mortgaged loans
Net cash received from subsidiaries and other units
Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities 741,664.00 11,026,052.00
Net cash flows arising from investing activities 13,282,536.00 -10,974,352.00
III. Cash flows arising from financing activities:
Cash received from absorbing investment
Including: Cash received from absorbing minority shareholders’ investment by
subsidiaries
Cash received from loans
司 公 限 有 份 股 心 中 游 旅 海 东 大 南 海
2014 文全告报度年
Cash received from issuing bonds
Other cash received concerning financing activities
Subtotal of cash inflow from financing activities
Cash paid for settling debts
Cash paid for dividend and profit distributing or interest paying
Including: Dividend and profit of minority shareholder paid by subsidiaries
Other cash paid concerning financing activities
Subtotal of cash outflow from financing activities
Net cash flows arising from financing activities
IV. Influence on cash due to fluctuation in exchange rate
V. Net increase of cash and cash equivalents 15,714,604.08 -8,358,983.23
Add: Balance of cash and cash equivalents at the period -begin 6,835,685.46 15,194,668.69
VI. Balance of cash and cash equivalents at the period -end 22,550,289.54 6,835,685.46
Legal Representative: Li Yuanbin Accounting Principal: Chen Zhen
Accounting Firm’s Principal: Liu Xianghai
司公限有份股心中游旅海东大南海 2014 文全告报度年
4. Statement on Changes of Owners’ Equity
Current Period
In RMB
Current Period
Owners’ equity attributable to the parent Company
Other
Provision
Item equity instrument Less: Other Minority Total owners’
Capital Reasonable Surplus of
Share capital Perpetual Inventory comprehensive Retained profit interests equity
Preferred reserve reserve reserve general
capital Other shares income
stock risk
securities
I. Balance at the end of the last year 364,100,000.00 54,142,850.01 -336,331,002.15 81,911,847.86
Add: Changes of accounting
policy
Error correction of the
last period
Enterprise combine under
the same control
Other
II. Balance at the beginning of this
364,100,000.00 54,142,850.01 -336,331,002.15 81,911,847.86
year
III. Increase/ Decrease in this year
2,503,486.47 2,503,486.47
(Decrease is listed with “-”)
(i) Total comprehensive income 2,503,486.47 2,503,486.47
(ii) Owners’ devoted and
decreased capital
1.Common shares invested by
shareholders
2. Capital invested by holders of
other equity instruments
3. Amount reckoned into owners
equity with share-based payment
4. Other
(III) Profit distribution
1. Withdrawal of surplus reserves
司公限有份股心中游旅海东大南海 2014 文全告报度年
2. Withdrawal of general risk
provisions
3. Distribution for owners (or
shareholders)
4. Other
(IV) Carrying forward internal
owners’ equity
1. Capital reserves conversed to
capital (share capital)
2. Surplus reserves conversed to
capital (share capital)
3. Remedying loss with surplus
reserve
4. Other
(V) Reasonable reserve
1. Withdrawal in the report period
2. Usage in the report period
(VI)Others
IV. Balance at the end of the report
364,100,000.00 54,142,850.01 -333,827,515.68 84,415,334.33
period
Last Period
In RMB
Last Period
Owners’ equity attributable to the parent Company
Other
Item Provision
equity instrument Less: Other Minority Total owners’
Capital Reasonable Surplus of
Share capital Perpetual Inventory comprehensive Retained profit interests equity
Preferred reserve reserve reserve general
capital Other shares income
stock risk
securities
I. Balance at the end of the last year 364,100,000.00 54,142,850.01 -334,131,682.19 84,111,167.82
Add: Changes of accounting
policy
Error correction of the
last period
司公限有份股心中游旅海东大南海 2014 文全告报度年
Enterprise combine under
the same control
Other
II. Balance at the beginning of this
364,100,000.00 54,142,850.01 -334,131,682.19 84,111,167.82
year
III. Increase/ Decrease in this year
-2,199,319.96 -2,199,319.96
(Decrease is listed with “-”)
(i) Total comprehensive income -2,199,319.96 -2,199,319.96
(ii) Owners’ devoted and
decreased capital
1.Common shares invested by
shareholders
2. Capital invested by holders of
other equity instruments
3. Amount reckoned into owners
equity with share-based payment
4 Other
(III) Profit distribution
1. Withdrawal of surplus reserves
2. Withdrawal of general risk
provisions
3. Distribution for owners (or
shareholders)
4. Other
(IV) Carrying forward internal
owners’ equity
1. Capital reserves conversed to
capital (share capital)
2. Surplus reserves conversed to
capital (share capital)
3. Remedying loss with surplus
reserve
4. Other
(V) Reasonable reserve
司公限有份股心中游旅海东大南海 2014 文全告报度年
1. Withdrawal in the report period
2. Usage in the report period
(VI)Others
IV. Balance at the end of the report
364,100,000.00 54,142,850.01 -336,331,002.15 81,911,847.86
period
司公限有份股心中游旅海东大南海 2014 文全告报度年
III. Company profile
Hainan Dadonghai Tourism Center (Holdings) Co., Ltd. (hereinafter referred to as “the Company”), was founded
as a standardized LLC on April 26, 1993, reorganized and incorporated on the basis of the former Hainan Sanya
Dadonghai Tourism Center Development Ltd. and approved by the Hainan Provincial Stock System
Experimentation Leading Team Office with a document of Qiong Gu Ban Zi [1993] No. 11. On May 6, 1996, the
Company underwent a restructuring and a corresponding division under the approval of the Hainan Provincial
Securities Administration Office with a document of Qiong Zheng Ban [1996] No. 58. On October 8, 1996 and
January 28, 1997, the Company, with duly approval, went public by issuing 80 million shares of B stock and 14
million shares of A stock respectively on Shenzhen Security Exchange. On June 20, 2007, the Company
experienced a reform of non-tradable shares, through which non-tradable share holders of the Company got
circulating right of their shares by paying shares to tradable share holders, and tradable share holders got paid
three shares for every ten of their shares. The Company operates business in the industry of tourism and catering
services.
As of December 31, 2014, the Company’s total capital stock is 364,100,000 shares. The Company’s registered
capital is RMB 364.1 million. The legal representative is Li Yuanbin. The registration number of its Business
License for Enterprise Legal Person (Duplicate) is 4600001003983. The legal registered residence is Dadonghai,
Hedong District, Sanya. Its scope of business includes: accommodation and catering industry (limited to those
operated by branches); photography; operation of ornamental plant bonsai, knitwear and textiles, general
merchandise, hardware and electrical equipment, chemical products (excluding those require specialized licenses),
daily necessities, industrial means of production (excluding those require specialized licenses), metal materials
and machinery equipment; commission sale of plane, bus, train and ship tickets (items in require of administrative
permission shall be operated under license).
The scope of consolidated financial statements include the Company headquarter and South China Grand Hotel
with Independent accountability.
IV. Basis of preparation for financial statements
1. Basis of preparation
Based on going concern, according to actually occurred transactions and events, the Company prepares its
financial statements in accordance with the Accounting Standards for Business Enterprises – Basic Standards and
concrete accounting standards, Accounting Standards for Business Enterprises – Application Guidelines,
Accounting Standards for Business Enterprises – Interpretations and other relevant provisions (collectively known
as “Accounting Standards for Business Enterprises”), as well as the disclosure requirements of Regulation on the
Preparation of Information Disclosure of Companies Issuing Public Shares No.15 - General Requirements for
司公限有份股心中游旅海东大南海 2014 文全告报度年
Financial Reports (as revised in 2014) by the China Securities Regulatory Commission.
2 Going concern
The Company is currently operating normal, net cash flows from operating activities is positive, the Company is
expected to continue operate as going concern in the next twelve months.
V. Principal accounting policies and estimates
Tips of accounting policies and estimates:
Nil
1. Statement on compliance with Accounting Standards for Business Enterprises
The financial statements prepared by the Company meet the requirements of the Accounting Standards for
Business Enterprises and truly and completely reflect the Company’s financial position as at December 31, 2014,
and its operating results, cash flows and other related information for the year then ended.
2. Accounting period
The accounting year is from January 1 to December 31 in calendar year.
3. Operating cycle
The operating cycle of the Company is twelve months.
4. Functional currency
RMB is adopted as the functional currency.
5. Accounting treatment for business combinations under the same control and those not under the same
control
Nil
6. Methods for preparation of consolidated financial statements
Nil
7. Accounting treatment for joint venture and joint operation
Nil
8. Recognition criteria of cash and cash equivalents
For the purpose of preparing the statement of cash flows, the term “cash” refers to the cash on hand and the
unrestricted deposit. The term “cash equivalents” refers to short-term (maturing within three months from
司公限有份股心中游旅海东大南海 2014 文全告报度年
acquisition) and highly liquid investments that are readily convertible to known amounts of cash and which are
subject to an insignificant risk of change in value.
9. Foreign business and foreign currency transactions
Foreign currency transactions are converted into RMB for recording purpose at the spot exchange rate on the date
when the transaction occurs.
Balances of foreign currency monetary items are measured at the spot exchange rate on the balance sheet date.
The exchange difference arising therefrom shall be included in the current profit and loss, except that those
exchange differences arising from the special borrowings of foreign currency related to the acquired and
constructed assets qualified for capitalization shall be dealt with according to the principle of borrowing cost
capitalization. Foreign currency non-monetary items measured at historical costs shall still be converted at the
spot exchange rates on the date when the transactions occur, and the amount in functional currency shall remain
unchanged. Foreign currency non-monetary items measured at fair value shall be translated at the spot exchange
rates on the date when the fair value is determined. The exchange difference arising therefrom shall be included in
the current profit and loss or capital reserves.
10. Financial instruments
Financial instruments include financial assets, financial liabilities and equity instruments.
1. Classification of financial instruments
Financial assets and liabilities are classified into the following categories according to the purpose of acquisition:
financial assets or financial liabilities measured at fair value and whose variation is included in the current profit
and loss, including financial assets or financial liabilities held for trading and financial assets or financial
liabilities directly designated to be measured at fair value through current profit and loss, held-to-maturity
investments, accounts receivables, available-for-sale financial assets and other financial liabilities, etc.
2. Recognition basis and measurement method of financial instruments
(1) Financial assets (financial liabilities) measured at fair value and whose variation is included in the current
profit and loss
Financial assets (financial liabilities) are initially recorded at fair values when acquired (deducting cash dividends
that have been declared but not distributed and bond interests that have matured but not been drawn). Relevant
transaction expenses are included in the current profit and loss.
The interests or cash dividends to be received during the holding period are recognized as investment income.
Change in fair values is included in the current profit and loss at the end of the period.
Difference between the fair value and initial book-entry value is recognized as investment income upon disposal;
meanwhile, adjustment is made to gains or losses from changes in fair values.
司公限有份股心中游旅海东大南海 2014 文全告报度年
(2) Held-to-maturity investments
Held-to-maturity investments are initially recorded at fair values plus the related trade expenses when acquired
(deducting bond interests that have matured but not been drawn). The interest revenue calculated at amortization
cost and effective interest rate (nominal interest rate is adopted when the difference between the actual interest
rate and the nominal interest rate is minor) during the holding period is recognized as investment income.
Effective interest is recognized when obtained, and remains unchanged in the predictable holding period or
applicable shorter period.
The difference between the amount received and the book value of the investment is included in the investment
profit and loss upon disposal.
(3) Accounts receivable
For creditor’s rights receivable arising from external sales of goods or rendering of service by the Company and
other creditor''s rights of other enterprises (excluding liability instruments quoted in an active market) held by the
Company, including accounts receivable, other receivables, notes receivable and prepayments, etc., the initial
recognition amount shall be the contract price or agreement price receivable from purchasing party. Accounts
receivable with financing nature are initially recognized at their present values.
The difference between the amount received and the book value of the accounts receivable is included in the
current profit and loss upon recovery or disposal.
(4) Available-for-sale financial assets
Available-for-sale financial assets are initially recorded at fair values plus the related trade expenses when
acquired (deducting cash dividends that have been declared but not been paid or bond interests that have matured
but not been drawn).
The interests or cash dividends to be received during the holding period are recognized as investment income. It is
measured in fair value at the end of the period and change in fair values is included in other comprehensive
income at the end of the period. However, the equity instrument investments unquoted in an active market and
whose fair value cannot be measured reliably, and the derivative financial assets which are connected with the said
equity instrument and must be settled by delivering the said equity instrument shall be measured on the costs
basis.
The difference between the amount received and the book value of the financial asset is included in the investment
profit and loss upon disposal. Meanwhile, the corresponding part of fair value accumulated change accounted as
other comprehensive income is transferred into investment profit or loss.
(5) Other financial liabilities
Other financial liabilities are initially recognized at the sum of fair value and transaction expenses and
subsequently measured at amortized costs.
司公限有份股心中游旅海东大南海 2014 文全告报度年
3. Recognition basis and measurement method of transfer of financial assets
When transfer of financial assets occurs, if nearly all of the risks and rewards of ownership of the financial assets
have been transferred to the transferee, the Company derecognizes the financial assets; if nearly all of the risks
and rewards of ownership of the financial assets are retained, the Company shall not derecognize the financial
assets.
The principle of substance over form is adopted to determine whether the transfer of a financial asset satisfies the
criteria as described above for derecognition of a financial asset. The Company shall classify the transfer of a
financial asset into the entire transfer and the partial transfer of financial asset. If the entire transfer of financial
asset satisfies the criteria for derecognition, the difference between the amounts of the following two items shall
be included in the current profit and loss:
(1) The book value of the transferred financial asset;
(2) The sum of the consideration received from the transfer and the accumulated amount of the changes in fair
value originally and directly included in owners’ equity (the situation where the financial asset transferred is an
available-for-sale financial asset is involved in)
If the partial transfer of financial asset satisfies the criteria for derecognition, the entire book value of the
transferred financial asset shall be split into the derecognized and recognized part according to their respective fair
value and the difference between the amounts of the following two items shall be included in the current profit
and loss:
(1) The book value of derecognized part;
(2) The sum of the consideration for the derecognized part and the portion of derecognition corresponding to the
accumulated amount of the changes in fair value originally and directly included in owners’ equity (the situation
where the financial asset transferred is an available-for-sale financial asset is involved in).
If the transfer of financial assets does not meet the derecognition criteria, the financial assets shall continue to be
recognized, and the consideration received will be recognized as a financial liability.
4. Derecognition criteria of financial liabilities
A financial liability shall be totally or partly derecognized if its present obligations are totally or partly dissolved.
Where the Company enters into an agreement with a creditor so as to substitute the existing financial liabilities
with any new financial liability, and the new financial liability is substantially different from the contractual
stipulations regarding the existing financial liability, it shall derecognize the existing financial liability, and shall at
the same time recognize a new financial liability.
Where substantial revisions are made to some or all of the contractual stipulations of the existing financial liability,
the Company shall derecognize the existing financial liability totally or partly, and at the same time recognize the
financial liability with revised contractual stipulations as a new financial liability.
Upon total or partial derecognition of financial liabilities, the difference between the book value of the financial
司公限有份股心中游旅海东大南海 2014 文全告报度年
liabilities derecognized and the consideration paid (including non-cash assets surrendered or new financial
liabilities assumed) shall be included in the current profit and loss.
Where the Company redeems part of its financial liabilities, it shall, on the redemption date, allocate the entire
book value of whole financial liabilities according to the comparative fair value of the part that continues to be
recognized and the de-recognized part. The difference between the book value allocated to the derecognized part
and the considerations paid (including non-cash assets surrendered and the new financial liabilities assumed) shall
be included in the current profit and loss.
5. Method of determining the fair value of financial assets and financial liabilities
For financial instruments with active market, their fair values are determined with quoted market price. For
financial instruments without active market, their fair values are determined by using valuation technique. During
the valuation, the company use valuation techniques that are appropriate in the circumstances and for which
sufficient data and other information are available to measure fair value, select inputs that are consistent with the
characteristics of the asset or liability that market participants would take into account in a transaction for the asset
or liability, and give priority to the use of relevant ovservable inputs. Unobservable inputs are only adopted when
relevant observable inputs cannot be obtained or are impracticable to obtain.
6. Providing of impairment provision on financial assets (exclude receivable accounts)
The Company performs inspection on the book value of financial assets apart from those financial assets
measured at fair value through current profit and loss on the balance sheet date. Impairment provision is required
if objective evidences of impairment occurs to the financial assets.
(1) Impairment provision of available-for-sale financial assets:
If there is a serious decline in fair value of the available-for-sale financial assets at the end of the period, or such
decline is not temporary after considering various factors, the impairment shall be confirmed, the accumulated
losses due to decreases in fair value previously included in owner’s equity shall be reversed, the impairment loss
shall be recognized.
If, in a subsequent period, the carrying amount of available-for-sale debt instruments investments increases and
the increase can be related objectively to an event occurring after the impairment was recognized, the previously
recognized impairment losses are reversed, included in current profit or loss.
The impairment losses of available-for-sale equity instruments cannot be reversed through profit or loss.
(2) Impairment provision of held-to-maturity investment:
Measurement of held-to-maturity investment impairment loss is governed by measurement of account receivables
impairment loss.
司公限有份股心中游旅海东大南海 2014 文全告报度年
11. Accounts receivable
(1) Provision for bad debts of account receivables that are individually significant
Assessment basis or standard of amount individually Top five accounts receivable and other receivables in terms of individual
significant amount at the end of the year.
After separate impairment test, provision for bad debts shall be made at
the difference of present value of estimated future cash flows in short of
their book values, and shall be include in current profit and loss. For
Method of provision for bad debts of accounts accounts receivable with no impairment found after separate tests, they
receivable that are individually significant
shall be included in corresponding portfolios for provisions for bad debts.
For accounts receivable with confirmed impairment losses after separate
tests, they shall not be included in portfolios of accounts receivable with
similar credit risk features for impairment tests.
(2) Provision for bad debts of accounts receivable made on the basis of portfolio
Portfolio Provision for bad debts
Aging portfolio Aging analysis method
Proportions of provision for bad debts on the basis of aging analysis in portfolios:
√Applicable □Not applicable
Proportion of provision for account Proportion of provision for other
Aging
receivable receivables
Within 1 year (including 1 year) 0.00% 0.00%
1 － 2 years 5.00% 5.00%
2 － 3 years 15.00% 15.00%
3 － 4 years 25.00% 25.00%
4 － 5 years 50.00% 50.00%
More than five years 100.00% 100.00%
In portfolio, adopting balance percentage method for bad debt provision
□ Applicable √Not applicable
In portfolio, adopting other method for bad debt provision
□ Applicable √Not applicable
(3) Accounts receivable that are individually insignificant but with bad debt provision provided on an
individual basis
For account receivable with an individual balance lower than the top five at the end of the year and with
Reason for bad debt objective evidence showing it may be impaired, and for uncollectible accounts receivable arising from
provision provided on an
individual basis repeal and liquidation of debtor after taking legal clearance procedures, their provision for bad debts
shall be provided on an individual basis.
Method of provision for bad For accounts receivable with objective evidence showing they may be impaired, they shall be separate
debt from relevant portfolios and separately tested for impairment to recognize the impairment losses.
司公限有份股心中游旅海东大南海 2014 文全告报度年
12. Inventories
1. Classification of inventories
Inventories are classified into raw materials, stock commodities, low-cost consumables, food materials, fuels, etc.
2. Measurement method of dispatched inventories
Stock commodities are measured at selling price and their purchase and sale price differential are amortized over
every month at the method of comprehensive differential. The purchasing and storage of stock materials are
measured at actual cost, and at the first-in-first-out method when fetched for use. Low-cost consumables are
amortized in full when fetched for use.
3. Determination basis of net realizable values of inventories and provision method of inventory depreciation
reserve
After the comprehensive inventory count at the end of the period, provisions for inventory depreciation reserve are
made or adjusted at the lower of their costs or net realizable values.
In normal operation process, for merchandise inventories for direct sale, including stock commodities and
materials for sale, their net realizable values are determined at the estimated selling prices minus the estimated
selling expenses and relevant taxes and surcharges; for inventories held to execute sales contract or service
contract, their net realizable values are calculated on the basis of contract price. If the quantities of inventories
specified in sales contracts are less than the quantities held by the Company, the net realizable value of the excess
portion of inventories shall be based on general selling prices.
At the end of the period, provisions for inventory depreciation reserve are made on an individual basis. For
inventories with large quantity and low unit price, the provisions for inventory depreciation reserve are made on a
category basis. For inventories related to the product portfolios manufactured and sold in the same area, and of
which the final usage or purpose is identical or similar thereto, and which is difficult to separate from other items
for measurement purposes, the provisions for inventory depreciation reserve shall be made on a portfolio basis.
If any factor rendering write-downs of the inventories has been eliminated, the amounts written down are
recovered and reversed from the inventory depreciation reserve, which has been provided for. The reversed
amounts are included into the current profit and loss.
4. Inventory system
Perpetual inventory system is adopted.
5. Amortization method of low-cost consumables and packaging materials
(1) Low-cost consumables are amortized at lump-sum method;
(2) Packaging materials are amortized at lump-sum method.
13. Divided into assets held for sale
Nil
司公限有份股心中游旅海东大南海 2014 文全告报度年
14. Long-term equity investments
1. Determination basis of joint control or significant influence over the investee
Joint control is the relevant agreed sharing of control over an arrangement, and the arranged relevant activity must
be decided under unanimous consent of the parties sharing control. When the company and other joint parties do
joint control and have rights to the net assets over an investee, the investee shall be the company’s joint venture.
Significant influence is the power to participate in the financial and operating policy decisions of the investee but
is not control or joint control over those polices. When an investing enterprise is able to have significant
influences on an investee, the investee shall be its associate.
2. Determination of initial investment cost
(1) Long-term equity investments acquired from business combinations
For business combination under common control: if the company makes payment in cash, transfer non-cash assets
or bear debts and issues equity securities as the consideration for the business combination, the book value of the
owners’ equity of the combinee obtained is recognized as the initial cost of the long-term equity investment on the
combination date. The difference between the initial investment cost and the carrying amount of cash paid,
non-cash assets transferred, liabilities assumed and par value of share issued shall be adjusted to the stock
premium in the capital reserved; if there is no sufficient premium in the capital reserve for write-downs, the
retained earnings are adjusted.
When exercising control over an investee under common control due to additional investment or other reasons,
the initial investment cost of the long-term equity investment shall be determined by the absorbing party’s share of
the net assets of the party being absorbed in the consolidated financial statements of the ultimate controlling party
at combination date. The difference between the initial investment cost of the long-term equity investment at
combination date and the sum of the total of the carrying amount of equity investment held by the acquirer before
the combination date and the newly increased investment on the combination date shall be adjusted to share
premium. If the balance of share premium is not sufficient, any excess shall be adjusted to retained earnings.
For business combination not under common control, the Company recognizes the combination cost determined
on the combination date as the initial cost of long-term equity investment.
When exercising control over an investee not under common control due to additional investment or other reasons,
in stand-alone financial statements, the investor shall change to the cost method and use the carrying amount of
the previously-held equity investment, together with the additional investment cost, as the initial investment cost
under the cost method. The audit, legal, valuation and consulting fees, other intermediary fees, and related
administrative fees paid by the absorbing party or acquirer for the business combination, shall be recognized in
profit or loss as invurred; the cost of issuing equity securities or debt securities as the combination consideration
shall be included in the initial cost of the equity securities or debt securities.
司公限有份股心中游旅海东大南海 2014 文全告报度年
(2) Long-term equity investments acquired by other means
For long-term equity investments acquired from making payments in cash, the initial cost is the actually paid
purchase cost.
For long-term equity investments acquired from issuance of equity securities, the initial cost is the fair value of
the issued equity securities.
If the exchange of non-monetary assets has commercial substance, and the fair values of assets traded out and
traded in can be measured reliably, the initial cost of long-term equity investment traded in with non-monetary
assets are determined based on the fair values of the assets traded out together with relevant taxes unless there is
any conclusive evidence that the fair values of the assets traded in are more reliable. If the exchange of
non-monetary assets does not meet the above criteria, the book value of the assets traded out and relevant taxes
are recognized as the initial cost of long-term equity investment traded in.
For long-term equity investment acquired from debt restructuring, the initial cost is determined based on the fair
value.
3. Subsequent measurement and recognition of profit or loss
(1) Long-term equity investment adopting cost method
Long-term equity investments of the Company in its subsidiaries are accounted for at cost method, except for the
actual price paid for acquisition of investment or the cash dividends or profits contained in the consideration
which have been declared but not yet distributed, the Company recognizes the proportion it shall enjoy in the cash
dividends or profits declared by the investee as current investment income.
(2) Long-term equity investment adopting equity method
A long-term equity investment in an associate or a joint venture shall be accounted for using the equity method. If
the cost of initial investment is in excess of the proportion of the fair value of the net identifiable assets in the
investee when the investment is made, the difference will not be adjusted to the initial cost of long-term equity
investment; if the cost of initial investment is in short of the proportion of the fair value of the net identifiable
assets in the investee when the investment is made, the difference will be included in the current profit and loss.
The Company recognizes the share of the investee’s net profits or losses, as well as its share of the investee’s other
comprehensive income, as investment income or losses and other comprehensive income, and adjusts the carrying
amount of the investment accordingly. The carrying amount of the investment shall be reduced by the portion of
any profit distributions or cash dividends declared by the investee that is attributable to the investor. The
investor’s share of the investee’s owners’ equity changes, other than those arising from the investee’s net profit or
loss, other comprehensive income or profit distribution, would be recognized in the investor’s equity, and the
carrying amount of the long-term equity investment shall be adjusted accordingly.
司公限有份股心中游旅海东大南海 2014 文全告报度年
The Company recognizes its share of the investee’s net profits or losses after making appropriate adjustments
based on the fair values of the investee’s identifiable net assets at the acquisition date according to the Company’s
accounting policies and accounting period. When holding the investment, if the investee is capable of providing
consolidated financial statements, the profit or loss shall be measured based on the net profit , other
comprehensive income and other changes in owners’ equity attributed to the company recorded in the
consolidated financial statements.
The unrealized profits or losses resulting from transactions between the company and its associate or joint venture
are eliminated in proportion to the company’s equity interest in the investee, based on which investment income or
losses shall be recognized. Any losses resulting from transactions between the investor and the investee, which are
attributable to asset impairment shall be recognized in full. The transactions of investing or selling assets between
the company and its associate or joint venture are accounted for under relevant accounting policies when the asset
constitutes a business.
When the Company confirms that it should share losses of the investee, treatment shall be done in following
sequence: firstly, the book value of the long-term equity investment shall be reduced; secondly, where the book
value is insufficient to cover the share of losses, investment losses are recognized to the extent of book value of
long-term equity which form net investment in the investee in substance and the book value of long-term equity
shall be reduced; finally, after all the above treatments, if the Company is still responsible for any additional
liabilities in accordance with the provisions stipulated in the investment contracts or agreements, estimated
liabilities are recognized and included into current investment loss according to the obligations estimated to
undertake. If the investee achieves profit in subsequent periods, the treatment is in the reversed sequence
described above, i.e. after deduct any unrecognized investment losses, reduce book value of estimated liabilities
recognized, restore book values of other long-term equity which form net investment in the investee in substance,
and of long-term equity investment, and recognize investment income at the same time.
(3) Disposal of long-term equity investment
On disposal of a long-term equity investment, the difference between the proceeds actually received and the
carrying amount shall be recognized in profit or loss for the current period.
For a long-term equity investment accounted for using the equity method, any other comprehensive income
previously recognized shall be accounted for on the same basis as would have been required if the investee had
directly disposed of the related assets or liabilities on a por-rata basis upon the disposal of the equity investment.
The owners’ equity recognized due to the investor’s share of the investee’s owners’ equity changes, other than
those arising from the investee’s net profit or loss, other comprehensive income or profit distribution, is included
in current profit or loss on a pro-rata basis.
When the Company can no longer exercise joint control of or significant influence over an investee due to partial
disposal of equity investment or other reasons, the remaining equity investment shall be accounted for in
司公限有份股心中游旅海东大南海 2014 文全告报度年
accordance with “Accounting Standard for Business Enterprises No.22-Financial Instruments: Recognition and
Measurement”. The difference between the fair value and the carrying amount at the date of the loss of joint
control or significant influence shall be charged to profit or loss for the current period. When the previously-held
equity investment is accounted for under the equity method, any other comprehensive income previously
recognized shall be accounted for on the same basis as would have been required if the investee had directly
disposed of the related assets or liabilities for the current period upon dis-countinuation of the equity method. The
owners’ equity recognized due to the investor’s share of the investee’s owners’ equity changes, other than those
arising from the investee’s net profit or loss, other comprehensive income or profit distribution, is transferred to
current profit or loss upon discontinuation of the equity method.
When no longer exercise control over an investee due to partial disposal of equity investment or other reasons,
and with the retained interest, still has joint control of , or significant influence over, the investee, when preparing
the individual financial statements, the Company shall change to the equity method and adjust the remaining
equity investment as if the equity method had been applied from the date of the first acquisition. If the Company
can not exercise joint control of or significant influence over the investee after partial disposal of equity
investment, the remaining equity investment shall be accounted for in accordance with “Accounting Standard for
Business Enterprises No.22-Financial Instruments: Recognition and Measurement”, and the difference between
the fair value and carrying amount at the date of the loss of control shall be chared to profit or loss for the current
period.
The equity investment disposed was obtained over additional investment or other reasons through business
combination, when preparing the individual financial statements, and the remaining equity investment accounted
on cost method or equity method, the other comprehensive income and other owner’s equity recognized due to the
equity investment held before acquisition date was accounted for under the equity method are carried forward on a
pro-rata basis; when the remaining equity investment is accounted for in accordance with “Accounting Standard
for Business Enterprises No. 22 – Financial Instruments: Recognition and Measurement”, the other
comprehensive income and other owner’s equity are totally carried forward.
15. Investment real estate
Measurement model of investment real estate
Not applicable
16. Fixed assets
(1) Recognition criteria of fixed assets
Fixed assets refer to the tangible assets held for the purpose of producing commodities, rendering services, renting
司公限有份股心中游旅海东大南海 2014 文全告报度年
or business management with useful lives exceeding one year. Fixed assets will only be recognized when all the
following criteria are satisfied: (1) it is probable that the economic benefits relating to the fixed assets will flow
into the Company; (2)the costs of the fixed assets can be measured reliably.
Classification of fixed assets: Fixed assets are classified into buildings and constructions, machinery equipment,
transportation equipment, electronic entertainment equipment, other equipment and Improvement. Fixed assets are
initially measured at their actual cost when acquired. The costs of a purchased fixed asset are determined at the
purchase price, the relevant taxes, and the traffic expenses, loading and unloading fees, installation fees and
professional service fees arising from preparing the fixed asset for its intended use. If the payment for a fixed asset
is delayed beyond the normal credit conditions and it is of financing nature in effect, the costs of the fixed asset
shall be determined based on the present value of the purchase price. The cost of a self-constructed fixed asset
shall be formed by the necessary expenses incurred for preparing the asset for its intended use. The fixed assets
which the debtor uses to pay back the debt in debt restructuring should be recognized at the fair value of the fixed
assets. The difference between the book value of restructured debts and the fair value of fixed assets used to pay
back the debt should be recorded into current profit and loss; On the premise that non-monetary asset trade is of
commercial nature and the fair value of the asset traded in or out can be measured reliably, the fixed asset traded
in with non-monetary asset should be recognized at the fair value of the asset traded out, unless any unambiguous
evidence indicates that the fair value of the asset traded in is more reliable; as to the non-monetary asset trade not
meeting the aforesaid premise, the book value of the asset traded out and related taxes and surcharges payable
should be recognized as the cost of the fixed asset, with gains or losses not recognized. As for the book-entry
value, the fixed assets acquired from the absorption and merger of an enterprise under common control are
recognized at the book value of the merged enterprise; the fixed assets acquired from the absorption and merger of
an enterprise not under common control are recognized at the fair value. The book-entry value of a fixed asset
acquired under financing lease is measured at the asset’s fair value on the commencement date of the lease or the
present value of the minimum lease payment, whichever is lower.
(2) Method of provision for impairment of fixed assets
Estimated useful life Estimated net residual
Category Depreciated Annual depreciation rate
(Year) rate
Buildings and
straight-line-method 20-40 5.00% 4.75-2.37
constructions
Machinery equipment straight-line-method 8-20 5.00% 8-20
Electronic entertainment
straight-line-method 5-16 5.00% 19-5.93
equipment
Transportation
straight-line-method 7-12 5.00% 13.57-7.91
equipment
Other equipment straight-line-method 8 5.00% 11.87
Improvement straight-line-method 5 5.00% 19
司公限有份股心中游旅海东大南海 2014 文全告报度年
(3) Recognition basis, pricing and depreciation method for fixed assets under financing lease
17. Construction in progress
The initial book values of the fixed assets are stated at total expenditures incurred before construction in
progress reaches the working condition for their intended use. For construction in progress that has reached
working conditions for its intended use but for which the completion of settlement has not been handled, it
shall be transferred into fixed assets at the estimated value according to the project budget, construction price
or actual cost, etc. from the date when it reaches the working conditions for its intended use. And the fixed
assets shall be depreciated in accordance with the Company’s policy on fixed asset depreciation. Adjustment
shall be made to the originally and provisionally estimated value based on the actual cost after the
completion of settlement is handled, but depreciation already provided will not be adjusted.
18. Borrowing costs
The initial book values of the fixed assets are stated at total expenditures incurred before reaching working
condition for their intended use. For construction in progress that has reached working condition for intended use
but relevant budgets for the completion of projects have not been completed, the estimated values of project
budgets, prices, or actual costs should be included in the costs of relevant fixed assets, and depreciation should be
provided according to relevant policies of the Company when working condition is reached. After the completion
of budgets needed for the completion of projects, the estimated values should be substituted by actual costs, but
depreciation already provided is not adjusted.
19. Biological assets
Nil
20. Oil-and-gas assets
Nil
21. Intangible assets
(1) Measurement, service life and impairment test
1. Measurement method of intangible assets
(1) The Company initially measures intangible assets at cost on acquisition;
The cost of an externally acquired intangible asset comprises its purchase price, related taxes and surcharges
and any other directly attributable expenditure of preparing the asset for its intended use. If the deferred
payment of purchase price of intangible assets exceeding normal credit terms is substantially of financial
司公限有份股心中游旅海东大南海 2014 文全告报度年
nature, the cost of intangible assets should be recognized at the present value of the purchase price.
The intangible assets which the debtor uses to pay back the debt in debt restructuring should be recognized at
the fair value of the intangible assets. The difference between the book value of restructured debts and the
fair value of intangible assets used to pay back the debt should be recorded into the current profit and loss;
On the premise that non-monetary assets trade is of commercial nature and the fair value of the assets traded
in or out can be measured reliably, the intangible assets traded in by the trade of non-monetary assets should
be recognized at the fair value of the assets traded out, unless any unambiguous evidence indicates that the
fair value of the assets traded in is more reliable; as to the non-monetary assets trade not meeting the
aforesaid premise, the book value of the assets traded out and related taxes payable should be recognized as
the cost of the intangible assets traded in, with gains or losses not recognized.
The intangible assets obtained by the absorption and merger of an enterprise under common control are
recognized at the book value of the merged enterprise; the intangible assets obtained by the absorption and
merger of an enterprise not under common control are recognized at the fair value.
Costs of intangible assets developed internally and independently include: the costs of materials and labor
services used to develop the intangible assets, the registration fee, the amortization of other patents and
franchise used in the process of development, the interest of capitalization, and other direct expenses for
preparing the intangible assets for their intended use.
(2) Subsequent measurement
The useful life of intangible asset is analyzed on acquisition.
As for intangible assets with limited useful lives, straight-line amortization method is adopted in the period
when the intangible assets generate economic benefit for enterprise; if the period when the intangible assets
generate economic benefit for enterprise cannot be forecasted, the intangible assets should be deemed as those
with indefinite useful lives and should not be amortized.
2. Estimation of useful life of intangible assets with limited useful life
Item Estimated useful life Basis
Land use right 50 years Validity term of land use certificate
The useful lives and amortization method of intangible assets with limited useful lives are reviewed at the
end of each period.
Upon review, the useful lives and amortization method of the intangible assets as at the end of the year are
not different from those estimated before.
3. Determination basis of intangible assets with indefinite useful lives
As at the balance sheet date, the Company has no intangible assets with indefinite useful lives.
司公限有份股心中游旅海东大南海 2014 文全告报度年
(2) Accounting policy for internal research and development spending
22. Impairment of long-term assets
If there is any indication that the long-term assets such as long-term equity investment, investment properties
accounted through cost pattern, fixed assets, construction in progress, intangible assets etc. may be impaired
at the balance sheet date, an impairment test would be implemented. If the result of impairment test indicates
the recoverable amounts of the long-term assets are lower than their book values, the difference between the
recoverable amounts and book values is recognized as impairment loss, provisions for impairment of the
long-term assets are made. The recoverable amounts of the long-term assets are the higher of their fair values
less costs to disposal and the present values of the estimated future cash flows of the long-term assets. The
provision for impairment is recognized and calculated on the individual basis. If it is difficult to estimate the
recoverable amount of the individual asset, the Company estimates the recoverable amount of the asset group
that the individual asset belongs to. The asset group is the minimum asset group which can generate cash
flows independently.
The mentioned impairment loss will not be reversed in subsequent accounting period once it had been
recognized.
23. Long-term deferred expenses
Long-term deferred expenses are various expenses already incurred, which shall be amortized over current and
subsequent periods with the amortization period exceeding one year.
1. Amortization method
Long-term deferred expenses are evenly amortized over the beneficial period.
2. Amortization period
Item Amortization period
Hotel exterior wall decoration 4 years
24. Employee compensation
(1) Short-term employee benefits
The Company recognizes, in the accounting period in which an employee provides service, actually occurred
short-term employee benefits as a liability, with a corresponding charge to current profit or loss or relevant
cost of assets.
Payments made by the Company of social security contributions for employees, and union running costs and
employee education costs provided in accordance with relevant requirements, in the accounting period in
司公限有份股心中游旅海东大南海 2014 文全告报度年
which employees provide services, is calculated according to prescribed bases and percentages of provision
in determining the amount of employee benefits.
Employee benefits which are non-monetary benefits are measured at fair value.
(2) Post-employment benefits
Payments made by the Company of basic endowment insurance and unemployment insurance in accordance
with relevant requirements of local government, in the accounting period in which employees provide
services, is calculated according to prescribed bases and percentages of provision of local requirements in
determining the amount payable, is recognized as a liability, with a corresponding charge to current profit or
loss or relevant cost of assets.
(3) Termination benefits
When the Company cannot unilaterally withdraw the offer of termination benefits because of an employment
termination plan or a curtailment proposal, or when the Company recognizes costs or expenses related to a
restructuring that involves the payment of termination benefits (the earlier is adopted), the employee benefits
liabilities caused by termination benefits are recognized and included in current profit or loss.
(4) Accounting method for other long-term employee benefits
Nil
25. Estimated liabilities
When the Company is involved in proceedings, debt guarantees, onerous contracts and reorganization events, if
such events may require delivery of assets or rendering of services in the future and the amounts of such events
can be reliably measured, estimated liabilities are recognized.
1. Recognition criteria of estimated liabilities
The Company recognizes the estimated liabilities when obligations related to contingencies satisfy all the
following conditions:
(1) the obligation is a present obligation of the Company;
(2) the performance of the obligation is likely to result in outflow of economic benefits from the Company;
and
(3) the amount of the obligation can be measured reliably.
2. Measurement method of estimated liabilities
司公限有份股心中游旅海东大南海 2014 文全告报度年
The estimated liabilities of the Company are initially measured as the best estimate of expenses required for
the performance of relevant present obligations.
The Company, when determining the best estimate, has had a comprehensive consideration of risks with
respect to contingencies, uncertainties and the time value of money. If the time value of money is significant,
the best estimate shall be determined after discounting the relevant future outflow of cash.
The best estimate shall be accounted as follows in different circumstances:
If there is continuous range (or interval) for the necessary expenses, and probabilities of occurrence of all the
outcomes within this range are equal, the best estimate shall be determined at the average amount of upper
and lower limits within the range.
If there is no continuous range (or interval) for the necessary expenses, or probabilities of occurrence of all
the outcomes within this range are unequal despite such a range exists, the outcomes within this range are
unequally likely to occur, in case that the contingency involves a single item, the best estimate shall be
determined at the most likely outcome; if the contingency involves two or more items, the best estimate
should be determined according to all the possible outcomes with their relevant probabilities.
When all or part of the expenses necessary for the settlement of an estimated liability of the Company is
expected to be compensated by a third party, the compensation should be separately recognized as an asset
only when it is virtually certain that the compensation will be received. The amount recognized for the
compensation should not exceed the book value of the estimated liability.
26. Share-based payment
Nil
27. Other financial instrument as preferred stock and perpetual capital securities
Nil
28. Revenue
1. Recognition and measurement principles of revenue from sales of goods
(1) Overall recognition and measurement principles of revenue from sales of goods
When the Company has transferred significant risks and rewards of ownership of the goods to the buyer; the
Company retains neither continuous management rights associated with ownership of the goods sold nor
effective control over the goods sold; the relevant amount of revenue can be measured reliably; it is highly
likely that the economic benefits associated with the transaction will flow into the enterprise; and the
relevant amount of cost incurred or to be incurred can be measured reliably, revenue from sales of goods
shall be recognized.
司公限有份股心中游旅海东大南海 2014 文全告报度年
(2) Recognition criteria of revenue from selling goods and specific recognition timing criteria of revenue of
the Company
The Company provides hotel accommodation service as well as goods. After the recognition of both
housekeeping department and hotel reception desk, the daily business report is established. The accounting
department makes sure the significant risks and rewards of ownership of the goods have been transferred to
the client, the selling revenue is recognized.
2. Recognition and measurement principles of revenue from providing labor services
(1) The hotel room service, catering (breakfast) service etc. of the Company, after the hotel room service,
catering (breakfast) service etc. had provided, and each consumption department had checked with the
receptionist, the daily business report and detailed report of account receivables are established, and the
reports are submitted to accounting department, which recognizes the revenue after examining the daily
reports.
(2) Revenue from outsourced restaurant and site rental is recognized according to contract or agreement
time period and time of collecting.
3. Recognition basis of revenue from transferring the use right of assets
The economic benefits related to the transaction may flow into entities and the amount of revenue can be
reliably measured. The amount of revenue from transferring use right of assets is recognized as follows in
different circumstances:
(1) The amount of interest income is determined by the time and effective interest rate for others to use the
monetary funds of the Company.
(2) The amount of revenue from usage is determined according to the charging time and method as agreed
in relevant contract or agreement.
29. Government subsidies
(1) Recognition basis and accounting treatment for government subsidies related to assets
Government subsidies related to acquisition and construction of fixed assets, intangible assets and other long-term
assets are recognized as deferred income, and included in non-operating income by stages within the useful life of
the assets acquired and constructed
(2) Recognition basis and accounting treatment for government subsidies related to income
If government subsidies related to income are used to compensate the enterprise’s relevant expenses or losses
in future periods, such government subsidies should be recognized as deferred income on acquisition and be
included into the current non-operating income in the period of recognizing relevant expenses; if government
subsidies related to income are used to compensate the enterprise’s relevant expenses or losses incurred, such
司公限有份股心中游旅海东大南海 2014 文全告报度年
government subsidies are directly included into the current non-operating income on acquisition.
30. Deferred income tax assets and deferred income tax liabilities
Deductible temporary differences are recognized as deferred income tax assets to the extent that it shall not exceed
future taxable income possibly available to be against the deductible temporary difference.
Deductible temporary differences are recognized as deferred income tax liabilities except in special
circumstances.
Special circumstances in which deferred income tax assets or deferred income tax liabilities shall not be
recognized include: the initial recognition of goodwill; other transactions or matters excluding business
combinations, which affect neither accounting profits nor the taxable income (or deductible losses) when
occurred.
If the Company has the legal right of netting and intends to settle in net amount or to obtain assets and discharge
liabilities simultaneously, the income tax assets and income tax liabilities of the Company for the current period
shall be presented based on the net amount after offset.
When the Company has the legal rights to balance income tax assets and income tax liabilities in current period
with net settlement, and deferred income tax assets and deferred income tax liabilities are related to the income
tax which imposed on the same taxpaying subject by the same tax collection authority or to different tax paying
subjects, but, in each important future period in connection with the reverse of deferred income tax assets and
liabilities, the involved tax paying subject intends to balance income tax assets and liabilities in current period
with net settlement at the time of obtaining assets and discharging liabilities, deferred income tax assets and
deferred income tax liabilities of the Company shall be presented based on the net amount after offset.
31. Leasing
(1) Accounting of operating lease
1. Accounting of leased assets
Lease fees paid by the Company for leased asset shall be amortized at straight-line method over the whole
lease period (including rent-free period) and shall be included in the current expenses. Initial direct costs
related to lease transactions paid by the Company shall be included in the current expenses.
If the expense related to the lease which shall be paid by the Company is assumed by the lessor of the asset,
such expenses shall be deducted from total lease fees, and residual lease fees shall be amortized over the
lease period and included in the current expenses.
2. Accounting of leasing assets
Lease fees received by the Company from leasing assets shall be amortized at straight-line method over the
司公限有份股心中游旅海东大南海 2014 文全告报度年
whole lease period (including rent-free period), and shall be recognized as lease income. Initial direct costs
related to lease transactions paid by the Company shall be included in the current expenses; if the amount is
large, it shall be capitalized, and shall be included in the current income by stages within the whole lease
period on same basis for recognition of lease income.
If the expenses related to the lease which shall be paid by the lessee are borne by the Company, such
expenses shall be deducted from total lease income by the Company, and residual lease fees shall be
amortized over the lease period.
(2) Accounting treatment of finance lease
32. Other significant accounting policies and estimate
Nil
33. Significant accounting policies and changes of accounting estimate
(1) Changes of major accounting policies
□Applicable √ Not applicable
(2) Changes of major accounting estimate
□Applicable √ Not applicable
34. Other
VI. Taxation
1. Major tax types and tax rates
Taxation type Basis of tax assessment Tax rate
Value added tax (VAT) Revenue from sale of goods 3%
Business tax Operating income 5%
Urban maintenance and construction tax Turnover tax 7%
Enterprise income tax Income tax payable 25%
Education surcharge Turnover tax 3%
Local education surcharge Turnover tax 2%
Remaining value after deducting 30% of
Property tax the original value of houses (including land 1.2%
price)
Land use tax Land area RMB 18/m2
As for the taxpaying body with different tax rate for enterprise income tax, disclosed explanations: Nil
司公限有份股心中游旅海东大南海 2014 文全告报度年
2. Tax preference
Nil
3. Other
VII. Notes to the main items of financial statements
1. Monetary funds
In RMB
Item Ending balance Beginning balance
Cash 346,943.61 613,560.04
Bank deposit 22,203,345.93 6,209,144.39
Other monetary funds 12,981.03
Total 22,550,289.54 6,835,685.46
Other explanation
Nil
2. Financial assets measured by fair value and with variations reckoned into current gains/losses
Nil
3. Derivative financial assets
□Applicable √Not applicable
4. Notes receivables
Nil
5. Accounts receivable
(1) Accounts receivable by type
In RMB
Ending balance Beginning balance
Book balance Provision for bad debts Book balance Provision for bad debts
Type
Proporti Provision Book value Proportio Provisio Book value
Amount Amount Amount Amount
ratio n ratio
on (%) n (%)
Accounts
receivable
with large
single amount
1,464,505.49 29.36% 1,464,505.49 100.00% 0.00 1,339,625.51 24.14% 1,339,625.51 100.00% 0.00
and accrued
for provision
of bad debt on
a single basis
Accounts
receivable
3,523,141.14 70.64% 890,762.12 25.28% 2,632,379.02 4,208,809.28 75.86% 699,431.52 16.62% 3,509,377.76
accrued for
provision of
司公限有份股心中游旅海东大南海 2014 文全告报度年
bad debt by
portfolio
Total 4,987,646.63 100.00% 2,355,267.61 2,632,379.02 5,548,434.79 100.00% 2,039,057.03 3,509,377.76
Accounts receivable with large single amount and accrued for provision of bad debt on a single basis at period-end:
√ Applicable□ Not applicable
In RMB
Ending balance
Content of accounts receivable
Accounts receivable Provision for bad debts Provision ratio Reason for provision
Expected
Sanya Power Supply Company 773,409.98 773,409.98 100.00% unrecoverable due to
long account age
Expected
Hainan Hong Kong & Macao
464,563.21 464,563.21 100.00% unrecoverable due to
International Tourism Ltd.
long account age
Expected
Sanya City Council reception 101,652.32 101,652.32 100.00% unrecoverable due to
long account age
LLC SOUTH CROSS Had declared
124,879.98 124,879.98 100.00%
TRAVELINN bankruptcy
Total 1,464,505.49 1,464,505.49 -- --
Accounts receivable accrued for provision of bad debt by aging analysis method in portfolio:
√ Applicable□ Not applicable
In RMB
Ending balance
Aging
Accounts receivable Provision for bad debts Provision ratio
Within 1 year
Subtotal within one year 238,732.56 0.00
1-2 years 2,031,831.46 101,591.57 5.00%
2-3 years 461,782.20 69,267.33 15.00%
3-4 years 22,459.00 5,614.75 25.00%
4-5 years 108,094.91 54,047.46 50.00%
More than five years 660,241.01 660,241.01 100.00%
Total 3,523,141.14 890,762.12
Portfolio recognized:
Based on aging
Accounts receivable accrued for provision of bad debt by percentage of balance in portfolio:
□ Applicable√ Not applicable
Accounts receivable accrued for provision of bad debt by other methods in portfolio:
Nil
(2) Provision for bad debts accrued, regain or switch back in the Period
In the Period, 316,210.58 Yuan accrued for provision of bad debts; no provision for bad debts regains or switch back in the Period.
Nil
(3) Account receivables actually cancel after verification in Period
Nil
司公限有份股心中游旅海东大南海 2014 文全告报度年
(4) Top five account receivables collected by arrears party at ending balance
Top five accounts receivable
Book balance
Relationship with the Proportion in total accounts receivable
Name Aging
Company (%)
Sanya Haiyuan Hotel Management Ltd. Non-related 2,602,716.62 Within 3 years 52.18
party
Sanya Power Supply Company Non-related 775,304.98 More than five 15.54
party years
Hainan Hong Kong & Macao International Non-related 464,563.21 More than five 9.31
Tourism Ltd. party years
LLC SOUTH CROSS TRAVELINN Non-related 124,879.98 Within 1 year 2.50
party
Sanya City Council reception Non-related 101,652.32 More than five 2.04
party years
Total 4,069,117.11 81.57
(5) Account receivables recognition terminated due to transfer of financial assets
Nil
(6) Account receivables transferred and assets & liability formed by its continuous involvement
Nil
6. Prepayments
(1) Aging analysis of repayment
In RMB
Ending balance Beginning balance
Aging
Amount Proportion (%) Amount Proportion (%)
Within 1 year 40,778.52 100.00% 201,053.21 100.00%
Total 40,778.52 -- 201,053.21 --
Reasons for significant repayment with over one year age without settle:
(2) Top five prepayment collected by objects at ending balance
Other explanation:
The prepayments are prepaid insurance fees, newspapers and books fees, etc.
7. Interest receivables
Nil
8. Dividend receivables
Nil
司公限有份股心中游旅海东大南海 2014 文全告报度年
9. Other receivables
(1) Other receivables by type:
In RMB
Ending balance Beginning balance
Book balance Provision for bad debts Book balance Provision for bad debts
Type
Proportio Provision Book value Proporti Provisio Book value
Amount Amount Amount Amount
ratio n ratio
n (%) on (%)
Other
receivable
s with
large
single
amount
and
77,363,143.31 98.64% 77,363,143.31 100.00% 0.00 77,363,143.31 94.93% 77,363,143.31 100.00% 0.00
accrued
for
provision
of bad
debt on a
single
basis
Other
receivable
s accrued
for
1,064,685.19 1.36% 732,023.93 68.75% 332,661.26 4,134,679.28 5.07% 835,627.92 20.21% 3,299,051.36
provision
of bad
debt by
portfolio
Total 78,427,828.50 100.00% 78,095,167.24 332,661.26 81,497,822.59 100.00% 78,198,771.23 3,299,051.36
Other receivables with large single amount and accrued for provision of bad debt on a single basis at period-end:
√ Applicable□ Not applicable
In RMB
Ending balance
Content of other receivables
Other receivables Provision for bad debts Provision ratio Reason for provision
Hainan Dadonghai Hotel Co., 54,767,945.15 54,767,945.15 100.00% Unrecoverable
司公限有份股心中游旅海东大南海 2014 文全告报度年
Ltd.
Cash dividends distributed in
16,899,000.00 16,899,000.00 100.00% Unrecoverable
1994-1996
Hainan Hong Kong & Macao
4,145,704.16 4,145,704.16 100.00% Unrecoverable
International Tourism Ltd.
Guangdong Jinma Tourism
1,200,494.00 1,200,494.00 100.00% Unrecoverable
Ltd.
Shareholder custody fee 350,000.00 350,000.00 100.00% Unrecoverable
Total 77,363,143.31 77,363,143.31 -- --
Other receivables accrued for provision of bad debt by aging analysis method in portfolio:
√ Applicable□ Not applicable
In RMB
Ending balance
Aging
Other receivables Provision for bad debts Provision ratio
Within 1 year
Subtotal within one year 308,799.04
1-2 years 21,000.00 1,050.00 5.00%
2-3 years 4,235.61 635.34 15.00%
3-4 years 288.70 72.17 25.00%
4-5 years 190.85 95.43 50.00%
More than five years 730,170.99 730,170.99 100.00%
Total 1,064,685.19 732,023.93
Portfolio recognized:
Based on aging
Other accounts receivable accrued for provision of bad debt by percentage of balance in portfolio:
□ Applicable√ Not applicable
Other accounts receivable accrued for provision of bad debt by other methods in portfolio:
□ Applicable√ Not applicable
(2) Provision for bad debts accrued, regain or switch back in the Period
There is no provision for bad debts accrued in the Period; and 103,603.99 Yuan regains or switch back in the Period. Including the
followed significant amount:
In RMB
Company Regains or switch back Way of regain
Sanya Haiyuan Hotel Management Ltd. 2,808,368.63 Monetary fund
Total 2,808,368.63 --
The commission sale of guest rooms collected from Sanya Haiyuan Hotel Management Ltd., and withdrwal bad debt provision by
aging analysis originally.
(3) Other account receivables actually cancel after verification in Period
Nil
(4) Other account receivables category by nature of money
In RMB
司公限有份股心中游旅海东大南海 2014 文全告报度年
Nature of money Ending book balance Beginning book balance
With hotel management concerned 764,685.19 3,773,053.82
Without hotel management concerned 77,663,143.31 77,724,768.77
Total 78,427,828.50 81,497,822.59
(5) Top five other account receivables collected by arrears party at ending balance
In RMB
Nature of Proportion in total Ending balance of
Company name Ending balance Aging
money other receivables bad debt provision
Hainan Dadonghai Hotel Co., More than five
54,767,945.15 69.83% 54,767,945.15
Ltd. years
Cash dividends distributed in More than five
16,899,000.00 21.55% 16,899,000.00
1994-1996 years
Hainan Hong Kong & Macao More than five
4,145,704.16 5.29% 4,145,704.16
International Tourism Ltd. years
Guangdong Jinma Tourism More than five
1,200,494.00 1.53% 1,200,494.00
Ltd. years
More than five
Shareholder custody fee 350,000.00 0.45% 350,000.00
years
Total -- 77,363,143.31 -- 98.65% 77,363,143.31
(6) Account receivables with government subsidies involved
Nil
(7) Other account receivables recognition terminated due to transfer of financial assets
Nil
(8) Other account receivables transferred and assets & liability formed by its continuous involvement
Nil
10. Inventories
(1) Classification of inventories
In RMB
Ending balance Beginning balance
Item Depreciation Depreciation
Book balance Book value Book balance Book value
reserve reserve
Raw materials 1,042,431.89 747,043.57 295,388.32 1,053,761.59 748,096.33 305,665.26
Stock
22,771.38 11,102.41 11,668.97 22,771.38 11,102.41 11,668.97
commodities
Total 1,065,203.27 758,145.98 307,057.29 1,076,532.97 759,198.74 317,334.23
(2) Inventory depreciation reserve
In RMB
司公限有份股心中游旅海东大南海 2014 文全告报度年
Increased in 2014 Decreased in 2014
Beginning
Item Reversing or Ending balance
balance Accrual Other Other
write-off
Raw materials 748,096.33 1,052.76 747,043.57
Stock
11,102.41 11,102.41
commodities
Total 759,198.74 1,052.76 758,145.98
Write-off with the stock mateirals delivery
(3) Explanation on inventories with capitalization of borrowing costs included at ending balance
Nil
(4) Assets unsettled formed by construction contract which has completed at period-end
Nil
11. Divided into assets held for sale
Nil
12. Non-current assets maturing within one year
In RMB
Item Ending balance Beginning balance
Long-term differed expenses needed to be
196,354.90 386,191.87
amortized within one year
Total 196,354.90 386,191.87
13. Other non-current assets
Nil
14. Available-for-sale financial assets
(1) Available-for-sale financial assets
In RMB
Ending balance Beginning balance
Item Provision for Provision for
Book balance Book value Book balance Book value
impairment impairment
Available-for-sale equity
9,500,000.00 5,000,000.00 4,500,000.00 15,000,000.00 5,000,000.00 10,000,000.00
instruments:
Measured at cost 9,500,000.00 5,000,000.00 4,500,000.00 15,000,000.00 5,000,000.00 10,000,000.00
Total 9,500,000.00 5,000,000.00 4,500,000.00 15,000,000.00 5,000,000.00 10,000,000.00
(2) Available-for-sale financial assets measured at fair value at period-end
Nil
司公限有份股心中游旅海东大南海 2014 文全告报度年
(3) Available-for-sale financial assets measured at cost at the end of the period
In RMB
Book balance Provision for impairment
Incr Decr Shareholdin Cash
Item Beginning Increase in Decrease in Ending Beginning ease ease Ending g ratio in dividends in
balance balance
2014 2014 balance in in balance investee (%) 2014
2014 2014
Shenzhen
Difu
Investment
5,000,000.00 5,000,000.00 5,000,000.00 5,000,000.00 14.28%
&
Developm
ent Ltd
Haikou
Luoniusha
n Petty 10,000,000.00 10,000,000.00 9.09% 2,020,000.00
Loan Co.,
Ltd.
Sanya
Xiangyu
4,500,000.00 4,500,000.00 18.00%
E-business
Ltd.
Total 15,000,000.00 4,500,000.00 10,000,000.00 9,500,000.00 5,000,000.00 5,000,000.00 -- 2,020,000.00
(4) Changes of impairment of available-for-sale financial assets in Period
In RMB
Incl: transfer-in Incl: switch-back
Impairment Impairment
from other Decreased in due to fair value
Type opening balance Accrued in 2014 ending balance
comprehensive 2014 increased after
accrued accrued
income period
Equity instrument
5,000,000.00 5,000,000.00
available for sale
Total 5,000,000.00 5,000,000.00
(5) Fair value of the available-for-sale equity instrument drops significantly or not contemporarily without
depreciation reserves accrued
Nil
15. Held-to-maturity investment
Nil
16. Long-term account receivables
Nil
17. Long-term equity investments
In RMB
Investee Beginnin Changes in 2014 Ending Impairme
司公限有份股心中游旅海东大南海 2014 文全告报度年
g balance Investme balance nt
nt Adjustme provision
Cash at ending
Additiona gains/loss nt of Provision
Other dividend balance
l Capital es other for
equity or profit Other
investmen reduction recognize comprehe impairme
changes declare to
t d by nsive nt losses
issue
equity income
method
I. Joint venture
Subtotal
II. Associated enterprise
Subtotal
Total 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other explanation
Investee Beginning Changes in 2014 Ending Impairment
balance balance provision at
Investmen ending
t balance
Adjustme Cash Provisi
gains/loss
Additional nt of other Other dividend on for
Capital es Oth
investmen comprehe equity or profit impair
reduction recognize er
t nsive changes declare to ment
d by
income issue losses
equity
method
Hubei Jingsha 4,566,207.42 4,566,207.42 4,566,207.42
Dadonghai Club
Ltd.
Sanya Shun’an 5,150,166.84 5,150,166.84 5,150,166.84
Casino
Subtotal 9,716,374.26 9,716,374.26 9,716,374.26
18. Investment real estate
Nil
19. Fixed assets
(1) Fixed assets
In RMB
Buildings and Machinery Electronic Transportation
Item Others Total
Constructions equipment Equipments equipment
1.Beginning balance 156,679,569.41 13,858,617.00 2,895,261.78 1,635,734.77 12,363,198.98 187,432,381.94
2. Increase in 2014 107,910.00 455,588.00 563,498.00
(1) Purchase 107,910.00 455,588.00 563,498.00
3. Decrease in 2014 1,258,281.82 87,220.00 4,200.00 1,349,701.82
(1) Disposal or
1,258,281.82 87,220.00 4,200.00 1,349,701.82
scrap
4.Ending balance 155,421,287.59 13,858,617.00 2,915,951.78 2,091,322.77 12,358,998.98 186,646,178.12
1.Beginning balance 68,907,346.70 8,832,534.14 1,979,777.20 762,866.36 11,121,811.38 91,604,335.78
2. Increase in 2014 3,377,906.64 339,745.68 328,455.12 166,742.06 339,681.06 4,552,530.56
(1) Withdraw 3,377,906.64 339,745.68 328,455.12 166,742.06 339,681.06 4,552,530.56
司公限有份股心中游旅海东大南海 2014 文全告报度年
3. Decrease in 2014 166,345.70 77,356.73 2,992.50 246,694.93
(1) Disposal or scrap 166,345.70 77,356.73 2,992.50 246,694.93
4.Ending balance 72,118,907.64 9,172,279.82 2,230,875.59 929,608.42 11,458,499.94 95,910,171.41
1.Beginning balance 32,449,653.81 2,527,851.26 21,643.05 199,992.57 35,199,140.69
3. Decrease in 2014 764,494.05 764,494.05
(1) Disposal or scrap 764,494.05 764,494.05
4.Ending balance 31,685,159.76 2,527,851.26 21,643.05 199,992.57 34,434,646.64
1. Ending book value 51,617,220.19 2,158,485.92 663,433.14 1,161,714.35 700,506.47 56,301,360.07
2 Beginning book
55,322,568.90 2,498,231.60 893,841.53 872,868.41 1,041,395.03 60,628,905.47
value
(2) Fixed assets temporarily idled
In RMB
Accumulated Provision for
Item Original book value Book value Remark
depreciation impairment
24 inches Shanrui cup 153,919.64 5,433.83 140,788.83 7,696.98 -
Furniture cleaning
20,322.04 5,434.94 13,871.00 1,016.10 -
machine
Four heads coffee
7,758.14 2,070.23 5,300.00 387.91 -
machine
Thermal cabinet 26,202.02 6,917.92 17,974.00 1,310.10 -
Milk shaker 9,221.94 184.00 9,037.94 -
VIP card stamping and
13,286.80 266.00 13,020.80 -
coloring machine
(3) Fixed assets rented by finance leases
Nil
(4) Fixed assets leased in the operating leases
Nil
(5) Fixed assets without certificate of title completed
Nil
Other explanation
No fixed assets were mortgaged or guaranted at end of the Period
20. Construction in process
Nil
21. Engineering materials
Nil
司公限有份股心中游旅海东大南海 2014 文全告报度年
22. Disposal of fixed assets
Nil
23. Productive biological assets
(1) Measured by cost
□ Applicable√ Not applicable
(2) Measured by fair value
□ Applicable√ Not applicable
24. Oil-and-gas assets
□ Applicable√ Not applicable
25. Intangible assets
(1) Intangible assets
In RMB
Non-patent
Item Land use right Patent right Others Total
technology
I. Original book value
1. Beginning balance 87,833,001.74 87,833,001.74
2. Increase in the period
(1) Purchase
(2) Internal R&D
(3) Increase in enterprise
merger
3. Decrease in the period 517,724.00 517,724.00
(1) Disposal 517,724.00 517,724.00
4. Ending balance 87,315,277.74 87,315,277.74
II. Accumulated amortization
1. Beginning balance 29,902,202.33 29,902,202.33
2. Increase in the period 894,941.04 894,941.04
(1) Withdraw 894,941.04 894,941.04
3. Decrease in the period 45,874.29 45,874.29
(1) Disposal 45,874.29 45,874.29
4. Ending balance 30,751,269.08 30,751,269.08
III. Depreciation reserve
1. Beginning balance 29,343,890.98 29,343,890.98
2. Increase in the period
司公限有份股心中游旅海东大南海 2014 文全告报度年
(1) Withdraw
3. Decrease in the period
(1) Disposal
4. Ending balance 29,343,890.98 29,343,890.98
IV. Booking value
1. Ending book value 27,220,117.68 27,220,117.68
2. Beginning book value 28,586,908.43 28,586,908.43
(2) Land use right without certificate of title completed
Nil
26. Development expenditure
Nil
27. Goodwill
Nil
28. Long-term deferred expenses
In RMB
Increase in the Amortization in the
Item Beginning balance Other decreases Ending balance
period period
Hotel exterior wall
196,354.90 196,354.90
coating project
Total 196,354.90 196,354.90
Nil
30 .Other non-current assets
Nil
31 .Short-term loans
Nil
32. Financial liabilities measured at fair value through current profit and loss
Nil
33. Derivative financial liabilities
□ Applicable√ Not applicable
司公限有份股心中游旅海东大南海 2014 文全告报度年
34. Note payable
Nil
35. Accounts payable
(1) Details of accounts payable are as follows
In RMB
Item Ending balance Beginning balance
Within 1 year (including 1 year) 798,580.05 1,142,768.65
1-2 years (including 2 years) 562,577.83 145,272.00
2-3 years (including 3 years) 145,272.00 376,032.38
Over 3 years 883,915.31 507,882.93
Total 2,390,345.19 2,171,955.96
）））） （（（（
2 Accounts payable with major amount and aging of over one year
Nil
36.Accounts received in advance
(1)Accounts received in advance
In RMB
Item Ending balance Beginning balance
Within 1 year (including 1 year) 861,565.30 1,010,172.16
1-2 years (including 2 years) 48,544.76 185,737.68
2-3 years (including 3 years) 77,206.88 232,497.38
Over 3 years 372,928.97 171,587.59
Total 1,360,245.91 1,599,994.81
）））） （（（（
2 Accounts received in advance with major amount and aging of over one year Nil
(3) Assets settled formed by construction contract which has un-completed at period-end
Nil
37.Employee compensation payable
(1)Classification of employee compensation payable
In RMB
Item Beginning balance Increase in the period Decrease in the period Ending balance
司公限有份股心中游旅海东大南海 2014 文全告报度年
I. Short-term employee benefits 3,549,851.04 8,422,822.78 8,520,999.77 3,451,674.05
II. Post-employment benefits -
751,297.97 751,297.97
defined contribution plans
Total 3,549,851.04 9,174,120.75 9,272,297.74 3,451,674.05
(2) Short-term employee benefits
In RMB
Item Beginning balance Increase in the period Decrease in the period Ending balance
1.Salary, bonus, allowance and
2,852,036.47 6,537,600.63 6,750,324.46 2,639,312.64
subsidy
2.Employee welfare 1,179,780.97 1,179,780.97
3.Social insurance premium 367,991.27 367,991.27
Of which ： including: medical
323,511.74 323,511.74
insurance expenses
Work injury insurance
20,215.58 20,215.58
expenses
Maternity insurance 24,263.95 24,263.95
4.Housing provident funds 108,450.30 108,450.30
5.Labor union expenditures
and employee education 697,814.57 228,999.61 114,452.77 812,361.41
expenses
Total 3,549,851.04 8,422,822.78 8,520,999.77 3,451,674.05
(3) Details of defined contribution plans
In RMB
Item Beginning balance Increase in the period Decrease in the period Ending balance
1.Basic endowment
710,856.40 710,856.40
insurance expenses
2.Unemployment
40,441.57 40,441.57
insurance expenses
Total 751,297.97 751,297.97
38 .Taxes and surcharges payable
In RMB
司公限有份股心中游旅海东大南海 2014 文全告报度年
Item Ending balance Beginning balance
VAT 135,982.62 135,982.62
Business tax 86,744.38 111,018.40
Enterprise income tax -1,702,702.80 -1,702,702.80
Individual income tax 16.52
Urban maintenance and construction tax 6,072.11 7,771.29
Educational surtax 4,337.22 5,550.92
Property tax 204,986.70 204,986.58
Land use tax 108,590.94 72,393.00
Total -1,155,972.31 -1,164,999.99
39. Interest payable
Nil
40. Dividend payable
Nil
41 .Other payables
）））） （（（（
1 Other payables by items
In RMB
Item Ending balance Beginning balance
Within 1 year (including 1 year) 860,464.13 2,458,050.52
1-2 years (including 2 years) 142,349.99 308,551.68
2-3 years (including 3 years) 299,546.18 122,605.47
Over 3 years 22,317,010.81 23,003,005.34
Total 23,619,371.11 25,892,213.01
(2) Other payables with large amount and aging of over one year
In RMB
Company name Ending balance Reason for non-repayment or carryover
China Securities Regulatory Commission 19,810,000.00 Financial difficulty
Sun Hongjie 1,000,000.00 Guarantee deposit
司公限有份股心中游旅海东大南海 2014 文全告报度年
Hong Kong Deloitte & Touche LLP 285,003.21 Audit fees
Fu Yumei 215,780.23 Rental expenses
Total 21,310,783.44 --
Other notes
42. Divided into liability held for sale
Nil
43. Non-current liability due within one year Nil
44. Other current liability
Nil
45. Long-term loans
Nil
46. Bond payable
Nil
47. Long-term payable
Nil
48. Long-term employee salary payable
Nil
49. Specific payable
Nil
50. Estimates liabilities
Nil
51. Deferred income
Nil
52. Other non-current liability
Nil
53 .Share capital
In RMB
司公限有份股心中游旅海东大南海 2014 文全告报度年
Increase or decrease (+, － )
Beginning Share capital
balance Ending balance
New issue Shares granted converted from Others Sub-total
reserve fund
Total shares 364,100,000.00 364,100,000.00
54. Other equity instruments
Nil
55 .Capital reserves
In RMB
Item Beginning balance Increase in the period Decrease in the period Ending balance
Capital (share capital)
33,336,215.58 33,336,215.58
premium
Other capital reserves 20,806,634.43 20,806,634.43
Total 54,142,850.01 54,142,850.01
56. Treasury stock
Nil
57. Other comprehensive income
Nil
58. Reasonable reserves
Nil
59. Surplus reserves
Nil
60 .Undistributed profits
In RMB
Item The period Last period
Undistributed profit of period-begin after
-336,331,002.15 -334,131,682.19
adjustment
Plus: net profit attributable to owner of parent
2,503,486.47 -2,199,319.96
company in the period
Undistributed profits of period-end -333,827,515.68 -336,331,002.15
Adjustment of undistributed profit at period-begin:
1) For the retroactive adjustment based on Accounting Standards for Business Enterprises and other relevant regulations, affected
司公限有份股心中游旅海东大南海 2014 文全告报度年
undistributed profit at period-begin of 0 Yuan
2) For changes of accounting policies, affected undistributed profit at period-begin of 0 Yuan
3) For correction on major accounting errors, affected undistributed profit at period-begin of 0 Yuan
4) For changes of consolidation scope from same controlling, affected undistributed profit at period-begin of 0 Yuan
5) Other adjustment totally affected undistributed profit at period-begin of 0 Yuan
61 .Operating income and operating cost
In RMB
Amount as the period Amount as last period
Item
Income Cost Income Cost
Main business 20,202,134.10 337,785.89 23,660,779.80 7,841.74
Total 20,202,134.10 337,785.89 23,660,779.80 7,841.74
62 .Business tax and surcharges
In RMB
Item Amount as the period Amount as last period
Business tax 1,013,927.25 1,191,253.16
Urban maintenance and construction tax 70,974.91 83,387.72
Educational surtax 50,696.38 59,562.65
Total 1,135,598.54 1,334,203.53
63 .Selling expenses
In RMB
Item Amount as the period Amount as last period
Salary 3,148,970.88 2,770,875.24
Depreciation 4,219,719.22 4,663,061.63
Water and electricity fee 1,323,395.39 1,149,023.73
Repair charges 615,830.33 682,104.08
Other expenses 2,475,496.07 2,631,041.93
Total 11,783,411.89 11,896,106.61
64 .Administrative expenses
In RMB
Item Amount as the period Amount as last period
Staff salary and welfare 4,088,037.72 4,218,227.29
Taxes 1,265,633.31 1,619,469.82
司公限有份股心中游旅海东大南海 2014 文全告报度年
Business entertainment 941,322.90 1,040,314.30
Labor insurance expenses 1,116,266.44 911,398.77
Amortization of site use right 868,727.16 868,727.16
Other expenses 3,143,215.34 3,805,332.72
Total 11,423,202.87 12,463,470.06
65 .Financial expenses
In RMB
Item Amount as the period Amount as last period
Interest expenses
Less: interest income 71,232.46 96,292.99
Handling charges 110,748.81 151,051.43
Total 39,516.35 54,758.44
66. Losses on assets impairment
In RMB
Item Amount as the period Amount as last period
I. Losses on bad debt 212,606.59 187,419.68
Total 212,606.59 187,419.68
6. Gains from changes of fair value
In RMB
Source of gains from changes of fair value Amount as the period Amount as last period
68. Gains on investment
In RMB
Item Amount as the period Amount as last period
Investment income of available-for-sale
2,020,000.00
financial assets in holding period
Investment income obtained from disposal of
2,000,000.00
available-for-sale financial assets
Total 4,020,000.00
69 .Non-operating incomes
In RMB
Amount included in current
Item Amount as the period Amount as last period
non-recurring profits or losses
Total gains on disposal of
3,126,454.22 795.12 3,126,454.22
non-current assets
司公限有份股心中游旅海东大南海 2014 文全告报度年
Including: gain on disposal of
3,126,454.22 795.12 3,126,454.22
fixed assets
Income from compensation 91,123.01 84,448.70 91,123.01
Others 2,768.04 40,151.10 2,768.04
Total 3,220,345.27 125,394.92 3,220,345.27
Government subsidy reckoned into current gains/losses Nil ：
70. Non-operating expenses
In RMB
Amount included in current
Item Amount as the period Amount as last period
non-recurring profits or losses
Total losses on disposal of
6,870.77 40,494.62 6,870.77
non-current assets
Including: loss on disposal of
6,870.77 40,494.62 6,870.77
fixed assets
Other 1,200.00
Total 6,870.77 41,694.62 6,870.77
71 .Income tax expenses
）））） （（（（
1 Income tax expense table
Nil
）））） （（（（
2 Adjustment process of accounting profit and income tax expense
In RMB
Item Amount as the period
Total profit 2,503,486.47
72 .Other comprehensive income
More details can be seen in Note.
73. Notes to statement of cash flows
）））） （（（（
1 Other cash receipts related to operating activities
In RMB
Item Amount as the period Amount as last period
Receive current account of Sanya Haiyuan Hotel
2,808,368.63
Management Ltd.
司公限有份股心中游旅海东大南海 2014 文全告报度年
Handling charges for price adjustment fund 343,404.00 24,379.10
Individual social insurance 307,260.55 582,304.76
Compensation for articles in the guest rooms 91,123.01 114,210.05
Interest income 71,232.46 96,292.99
Electricity fee 40,547.95 40,526.78
Others 163,950.73
Total 3,825,887.33 857,713.68
）））） （（（（
2 Cash paid for other operating activities
In RMB
Item Amount as the period Amount as last period
Business entertainment expenses 1,017,733.30 1,804,532.20
Traveling expenses 906,196.32 477,298.08
Current account of Luoniushan Co., Ltd. 800,000.00
Audit fee 352,000.00 342,756.00
Price adjustment fund 342,036.00
Individual social insurance 307,260.55
Announcement fee (A/B shares
280,000.00 490,428.17
information disclosure)
Directors and supervisors membership
278,437.35 270,499.50
dues
Fuel fee 114,961.00 168,048.60
Listing fee 80,000.00 80,000.00
Postage 38,624.99 65,201.21
Office expenses 11,557.60 19,752.20
Other expenses 377,626.63 233,962.19
Repair charge 19,824.50 119,415.30
Personal loans 553,569.20
Financial handling charge 151,051.43
Total 4,926,258.24 4,776,514.08
(3) Cash received with other investment activities concerned
Nil
司公限有份股心中游旅海东大南海 2014 文全告报度年
(4) Cash paid for other investment activities
Nil
(5) Cash received with other financing activities concerned
Nil
(6) Cash paid for other financing activities
Nil
74 .Supplementary information to statement of cash flows
）））） （（（（
1 Supplementary information to statement of cash flows
In RMB
Supplementary information Amount as the period Amount as last period
1.Net profit adjusted to cash flows from operating
-- --
activities
Net profit 2,503,486.47 -2,199,319.96
Plus: provision for asset impairment 212,606.59 187,419.68
Depreciation of fixed assets, gas and oil assets and
4,552,530.56 4,925,210.05
productive biological assets
Amortization of intangible assets 894,941.04 888,387.57
Amortization of long-term deferred expenses 386,191.87 394,528.08
Loss on disposals of fixed assets, intangible assets and
-3,119,583.45 39,699.50
other long-term assets (\"-\" for gains)
Investments loss (\"-\" for gains) -4,020,000.00
Decrease in inventories (\"-\" for increases) 11,329.70 -25,809.51
Decrease in operating receivables