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1、1 Shenzhen China Bicycle Company (Holdings) Limited Semi-Annual Report 2021 August 2021 2 Section I. Important Notice, Contents and Interpretation Board of Directors, Supervisory Committee, all directors, supervisors and senior executives of Shenzhen China Bicycle Company (Holdings) Limited (hereina
2、fter 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. Li Hai, Pri
3、ncipal of the Company, Sun Longlong, person in charge of accounting works and Zhong Xiaojin, person in charge of accounting organ (accounting principal) hereby confirm that the Financial Report of 2021 Semi-Annual Report is authentic, accurate and complete. All directors are attended the Board Meeti
4、ng for report deliberation. The Company shall comply with the disclosure requirement of “Guidelines on Industry Information Disclosure of Shenzhen Stock Exchange No. 11- Listed Company Engaged in Jewelry-related Business” The Company plans not to distribute cash dividends, not to send bonus shares,
5、and no reserve capitalizing. 3 Contents Section I. Important Notice, Contents and Interpretation . 2 Section III Management Discussion and Analysis . 9 Section IV Corporate Governance . 23 Section V Environmental and Social Responsibility . 24 Section VI Important Events . 27 Section VII. Changes in
6、 Shares and Particulars about Shareholders . 33 Section VIII. Preferred Stock . 38 Section IX. Corporate Bonds . 39 Section X. Financial Report . 40 4 Documents Available for Reference 1. Accounting statement carrying the signatures and seals of the legal representative, person in charge of accounti
7、ng and person in charge of accounting organ. 2. Originals documents of the Company and manuscripts of public notices that disclosed in the newspaper designated by CSRC in the report period. 3. English version of the Semi-Annual Report 2021 5 Interpretation Items Refers to Contents 6 Section II. Comp
8、any Profile and Main Financial Indexes I. Company profile Short form of the stock Zhonghua-A, Zhonghua-B Code for share 000017, 200017 The abbreviation of the changed stock (if applicable) N/A Stock exchange for listing Shenzhen Stock Exchange Name of the Company (in Chinese) 深圳中华自行车(集团)股份有限公司 Short
9、 form of the Company (in Chinese) (if applicable) 深中华 Foreign name of the Company (if applicable) Shenzhen China Bicycle Company (Holdings) Limited Short form of foreign name of the Company (if applicable) CBC Legal representative Li Hai II. Person/Way to contact Secretary of the Board Rep. of secur
10、ity affairs Name Sun Longlong Yu Xiaomin, Zhong Xiaojin Contact add. 501 Zhongxin Technology Building, No.31 Bagua Rd., Bagualing, Futian District, Shenzhen 501 Zhongxin Technology Building, No.31 Bagua Rd., Bagualing, Futian District, Shenzhen Tel. 0755-25516998,28181666 0755-25516998,28181666 Fax.
11、 0755-28181009 0755-28181009 E-mail III. Others 1. Way of contact Whether registrations address, offices address and codes as well as website and email of the Company changed in reporting period or not Applicable Not applicable The registrations address, offices address and codes as well as website
12、and email of the Company have no changes in the Period, found more in Annual Report 2020. 7 2. Information disclosure and preparation place Whether information disclosure and preparation place changed in reporting period or not Applicable Not applicable The newspaper appointed for information disclo
13、sure, website for semi-annual report publish appointed by CSRC and preparation place for semi-annual report have no change in reporting period, found more details in Annual Report 2020. IV. Main accounting data and financial indexes Whether it has retroactive adjustment or re-statement on previous a
14、ccounting data or not Yes No Current period Same period of last year Increase/decrease in this report y-o-y Operating revenue (RMB) 54,130,317.60 42,656,355.21 26.90% Net profit attributable to shareholders of the listed company (RMB) 1,365,493.34 2,797,643.50 -51.19% Net profit attributable to shar
15、eholders of the listed company after deducting non-recurring gains and losses (RMB) -416,594.29 2,197,907.57 -118.95% Net cash flow arising from operating activities (RMB) -2,447,126.82 1,350,395.94 -281.22% Basic earnings per share (RMB/Share) 0.0025 0.0051 -50.98% Diluted earnings per share (RMB/S
16、hare) 0.0025 0.0051 -50.98% Weighted average ROE 11.78% 32.84% -21.06% End of current period End of last year Increase/decrease in this report-end over that of last period-end Total assets (RMB) 94,505,866.40 91,742,769.99 3.01% Net assets attributable to shareholder of listed company (RMB) 12,270,7
17、24.32 10,905,230.98 12.52% V. Difference of the accounting data under accounting rules in and out of China 1. Difference of the net profit and net assets disclosed in financial report, under both IAS (International Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles) App
18、licable Not applicable The Company had no difference of the net profit or net assets disclosed in financial report, under either IAS (International Accounting Standards) or Chinese GAAP (Generally Accepted Accounting Principles) in the period. 8 2. Difference of the net profit and net assets disclos
19、ed in financial report, under both foreign accounting rules and Chinese GAAP (Generally Accepted Accounting Principles) Applicable Not applicable The Company had no difference of the net profit or net assets disclosed in financial report, under either foreign accounting rules or Chinese GAAP (Genera
20、lly Accepted Accounting Principles) in the period. VI. Items and amounts of extraordinary profit (gains)/loss Applicable Not applicable In RMB Item Amount Note Governmental subsidy reckoned into current gains/losses (not including the subsidy enjoyed in quota or ration according to national standard
21、s, which are closely relevant to enterprises business) 300,000.00 Switch-back of provision of impairment of account receivable and contract assets which are treated with separate depreciation test 1,357,466.13 Other non-operating income and expenditure except for the aforementioned items 157,664.40
22、Less: Impact on income tax - Impact on minority shareholders equity (post-tax) 33,042.90 Total 1,782,087.63 - Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public - Extraordinary Profit/loss,
23、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 reportin
24、g 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/loss9 Section III Man
25、agement Discussion and Analysis I. Main businesses of the company in the reporting period During the reporting period, the companys main businesses were bicycles and lithium battery materials business, and jewelry gold business. (1) Bicycles and lithium battery materials business included the produc
26、tion, assembly, procurement, and sales of bicycles and electric bicycles, and purchase, sales, and commissioned processing of lithium battery materials, etc.; (2) The gold jewelry business mainly provided supply chain management and services in the vertical field of gold jewelry. The company connect
27、ed with downstream gold jewelry brands, purchased gold and diamonds according to their product needs, and then commissioned gold jewelry processing plants for processing, made product certification for the processed finished products after passing the inspection, and delivered them to downstream cus
28、tomers. Through the integration of upstream supplier resources and downstream customer resources, the turnover rate of gold jewelry products in the upstream and downstream was improved, the cost of circulation links was reduced, and the overall competitive advantage of the upstream and downstream wa
29、s formed. The Company shall comply with the disclosure requirement of “Guidelines on Industry Information Disclosure of Shenzhen Stock Exchange No. 11- Listed Company Engaged in Jewelry-related Business” i. Industry trends and competitive landscape of the industry the Company operates In terms of th
30、e jewelry and gold industry, due to the impact of the pandemic and other factors, the global economic development is still facing many uncertainties in 2021, but the domestic economy shows a rapid recovery, the growth in retail industry is in prospect, and the development trend of the gold and jewel
31、ry industry is still positive. In recent years, with the growth of the middle class and the continuous rising of residents income, the constantly advancing of the domestic residents consumption upgrading, the popularity of the Internet and the rise of social media, a young generation of consumers is
32、 becoming a new force of consumption, the jewelry industry is evolving from the traditional “push supply chain” to the “demand pull”, and there is an obvious transition trend from material consumption to brand and design consumption, the integration of jewelry into the Internet, innovation and indiv
33、iduality are becoming the trend of the industry. The jewelry industry is facing an opportunity period of income growth and consumption upgrading, and the middle and high-end consumer markets represented by jewelry has entered a stage of rapid development. 1. Industry development trend (1) The per ca
34、pital disposable income continues to rise, and the consumer group shifts to young consumers Benefiting from the continuous development of Chinas economy, the per capital disposable income of residents has been growing steadily. With the continuous increase of per capital disposable income of residen
35、ts, consumers 10 consumption ability and willingness to consume jewelry are expected to increase accordingly. At the same time, according to the age group of consumers, the young millennials aged between 21 and 25 and the older millennials aged between 26 and 39 are the absolute main force of global
36、 diamond jewelry consumption. According to the data, Chinas older millennials and younger millennials respectively contribute 69% and 10% of the diamond jewelry market, accounting for about 79% of the total market share. In terms of retail sales of diamond jewelry, older millennials and younger mill
37、ennials contribute 70% and 8% respectively, accounting for about 78% of the market share in total. (2) Jewelry consumption concept tends to become daily Unlike the consumption habits of the middle-aged people who pursue the maintenance of value, with the improvement of peoples living standards and t
38、he transformation of ideology, young consumers are more likely to consume jewelry as their daily wear, but not as traditional wealth or wear for important occasions. The demand for life oriented jewelry is increasing year by year. The younger generation pays more attention to the personalized design
39、 Goods in process selection, wearing jewelry is more used to meet the daily life requirements, reflects the personal style and personal taste, and jewelry consumption is becoming more daily. In addition, consumption reason expands from wedding to all kinds of Chinese and foreign festivals, love, fri
40、endship, family, and self-reward, which effectively improves the repurchase rate of jewelry products. (3) The demand for wedding market is stable, and the jewelry industry will remain sustainable in the future. Jewelry consumption in wedding market occupies an important position in the whole jewelry
41、 market. As of December 31, 2020, a total of 10,035,000 newborns had been registered with public security organs in 2020. In terms of marriage, 3,879,000 marriage couples registered in the first half of 2020, an increase of 149.1% on a month-over-month basis and a decrease of 22.1% on a year-over-ye
42、ar basis. In the first quarter of 2021, a total of 2,132,000 marriage couples registered nationwide, an increase of 575,000 couples compared with the same period last year. In the long run, Chinas consumption upgrading is still continuing, the jewelry industry and diamond jewelry markets will still
43、maintain long-term prosperity and large space for growth in the future. (4) The specific needs of consumers drive the industry to gradually subdivide At present, Chinas jewelry industry is still in the period of broad brands, and enterprises provide more suitable products and services to core groups
44、 by studying the needs of segments. In the future, it will gradually move towards the era of brand segmentation, the jewelry enterprises need to constantly adapt to the new market environment and adapt to the development needs of the era of segmentation. (5) Form online and offline linkage channel s
45、ales The development of sharing platforms and e-commerce platforms has changed the consumption habits of consumers, especially the younger generation. Consumers can more easily understand the features of products and share the use experience through online, which has become an important trend of pro
46、duct promotion and future sales. 11 (6) Supply chain management has become an important means of operation for jewelry enterprises From the perspective of the supply chain of the jewelry industry, it mainly involves raw material mining, processing and smelting, blank processing, jewelry production,
47、warehousing, distribution and sales. In recent years, more and more well-known domestic jewelry brands have outsourced part or all of the intermediate processing links with low profit and large investment, and focused on the front-end design, brand operation and back-end marketing network constructi
48、on with high premium. Supply chain management has become an important means to improve the operation efficiency of jewelry enterprises. 2. Future development prospects (1) National industrial policy support In order to encourage and develop the jewelry and jade jewelry industry, the Chinese governme
49、nt has introduced many favorable policies and measures. In terms of macro policies, Shanghai Diamond Exchange and Shanghai Gold Exchange have been launched successively, and the markets of gold, silver and other precious metals and their products have been fully opened up. The Ministry of Commerce h
50、as issued the Guiding Opinions on Promoting Consumption in the 13th Five-Year Plan Period. The General Office of the State Council issued the Opinions of the General Office of the State Council on Promoting the Innovation and Transformation of Entity Retail and the Opinions of The General Office of