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神州长城(000018)公告正文

神州B:2016年半年度报告摘要(英文版)

公告日期:2016-08-27

                                                           Sino Great Wall Co., Ltd. Summary of the Semi-annual Report 2016



      Stock code: 000018 ,200018               Stock ID : Sino Great Wall ,Sino B                         Announcement No. 2016-




                Summary of 2016 Annual Report of Sino Great Wall Co., Ltd.




1 Important notes
The summary is abstract from full-text of summary of the semi-annual report, for more details information ,
investors should found in the full-text of summary of the semi-annual report that published on website of
Shenzhen Stock Exchange and other website appointed by CSRC.
Company Profile
Stock abbreviation                       Sino Great Wall ,Sino-B       Stock code:                       000018、200018
        Stock exchange for listing       Shenzhen Stock Exchange
Contact person and contact manner                       Board secretary                         Securities affairs Representative
Name                                     Yang Chunling                                   Liu Guofa
Tel                                      010-89045855                                    010-89045855
Fax                                      010-89045856                                    010-89045856
E-mail                                   1208806865@qq.com                               000018sz@sina.com


II. Financial data and change of shareholders.

(1)Financial data

Does the company adjust retrospectively or restate accounting data of previous years due to change of the
accounting policy or correction of any accounting error?
□ Yes√ No
                                                  Reporting period            Same period of last year            YoY+/-(%)
Operating income(RMB)                                  1,953,574,755.51              2,081,209,219.16                         -6.13%
Net profit attributable to the shareholders
                                                          202,299,416.64                 165,342,341.12                        22.35%
of the listed company(RMB)
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of             175,937,165.15                 165,020,064.04                             6.62%
listed company(RMB)
Cash flow generated by business operation,
                                                        -1,256,615,959.20               -243,795,872.83                       415.44%
net(RMB)
Basic earning per share(RMB/Share)                                     0.12                          0.10                      20.00%
Diluted gains per
                                                                       0.12                          0.10                      20.00%
share(RMB/Share)(RMB/Share)
Weighted average ROE(%)                                          14.47%                          12.84%                             1.63%
                                                As at the end of the
                                                                              As at the end of last year          YoY+/-(%)
                                                 reporting period
Gross assets (RMB)                                       5,781,742,089.91              4,017,462,824.63                        43.92%
Net assets attributable to shareholders of
                                                         1,514,525,228.17              1,282,256,738.74                         18.11%
the listed company (RMB)




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                                                        Sino Great Wall Co., Ltd. Summary of the Semi-annual Report 2016



(2)Statement of shares held by top 10 shareholders

                                                                                                                       In shares
Total Number of common
shareholders at the end of the                                                                                          54,275
reporting period
                                        Shareholdings of the top 10 common shareholders
                                                                                                       Frozen or pledged
    Name of the         Properties of       Share
                                                         Total shares      Conditional shares       Status of
    shareholder         shareholder      proportion %                                                              Amount
                                                                                                     shares
                      Domestic
Chen Lve                                       34.33%      582,944,556              582,109,696       Mortgage    431,760,594
                      Natural person
                    Domestic Non-
Union Holdings Co.,
                    State-owned                 6.79%      115,295,921                          0
 Ltd.
                    legal person
STYLE-SUCCESS         Foreign legal
                                                5.47%       92,970,910                          0
LIMITED               person
Shanghai Financial Domestic Non-
Development         State-owned                 4.49%       76,300,504                76,300,504
Investment Fund(LP) legal person
                      Domestic
He Feiyan                                       3.23%       54,800,458                54,800,458
                      Natural person
Jiutai Fund-Bank of
Communications-
Jiutai Huitong No.2 Other                       2.50%       42,479,672                42,479,672
specific customer
asset management
pla
Wuxi Hengtai          Domestic Non-
Jiuding Assets        legal person
                                                2.26%       38,330,615                38,330,615
Management Centre     State-owned
(LP)                legal person
Foshan Haihui
                      Domestic Non-
Heying Venture
                      legal person
Imvestment                                      2.25%       38,150,252                38,150,252
                      State-owned
Partnership(Limited
                      legal person
Partnership)
                      Domestic Non-
Jiangxi Taihao
                      legal person
Venture Investment                              1.87%       31,791,879                31,791,879
                      State-owned
Centre(LP)
                      legal person
Yantai
                      Domestic Non-
ZhaoxuanYuantai
                      legal person
Jiuding Venture                                 1.87%       31,742,745                31,742,745
                      State-owned
Investment
                      legal person
Centre(LP)
                                       Chen Lve and He Yanfei are consortium officers; Wuxi Hengtai Jiuding Assets
                                       Management Centre (LP)and Yantai Zhaoxuan Yuantai Jiuding Venture Investment Centre
Explanation on associated relationship (LP)are consortium officers; Union Development Group Ltd. is the controlling
among the aforesaid shareholders       shareholder of the above-mentioned shareholder Shenzhen Union Holdings Ltd. and third
                                       shareholder Rich Crown Investment Co., Ltd. The other tradable shareholders neither knew
                                       whether there exists associated relationship between them.
Notes to the shareholders involved in
                                        None
financing securities (if any)




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                                                      Sino Great Wall Co., Ltd. Summary of the Semi-annual Report 2016



(3)The top 10 preference share holders

□ Applicable √ Not applicable
The controlling no preference shareholders of the Company in the report period.

(4)Changing of controlling shareholder and practical controller of the Company.

Change of holding shareholder
□ Applicable √ Not applicable
No change of holding shareholder in the report period.
Change of substantial controller
□ Applicable √ Not applicable
No change of substantial controller in the report period.

III. Discussion and analysis by the management

    1. Business highlights
      Since 2015, SGW Co., LTD has shorten the interior fitting business in China , extensively developed the ove
rseas EPC projects and investment opportunity, and strengthen the Medical Care and PPP investment. Affected b
y the slowdown in the domestic construction market and so forth factors, the company’s domestic decoration busi
ness had got a slowdown in a certain extent, gross profit margin is low. As for the company's overseas business d
evelopment, , SGW successively signed a major construction contracts in southeast Asia and Africa, other countri
es and regions. SGW signed a memorandum of understanding about Ethiopia medical industrial park with China's
transportation construction Co.,Ltd. International engineering branch. The overseas business has kept good growth
 rate, overseas revenue grew by 103.64% year on year, which covers the rate of74.62% of total revenue of SGW
Co., LTD.
      For the Medical Care, SGW Co., LTD has acquired Wuhan Commercial & Vocational Hospital Co.,Ltd (here
inafter referred to as "Wuhan Commercial & Vocational Hospital ") . Moreover, SGW invested the PPP Project of
 the first Phase of Lu YI Xian Ren Ming Hospital Removal and Construction Works. SGW Co., Ltd won the bid o
f Guizhou Zhong Shan Liang DU Hong Qiao Third-Grade Class-A Hospital Project. And the medical care invest
ment and PPP project have a very good beginning.
      To look forward, based on the analysis to the Construction Market of domestic and Abroad and current state
and future development prospect, SGW Co., Ltd will go on strengthening the EPC Contracting and investment alo
ng the “ One Road, One Belt” Countries, enhance the investment of Medical Care and PPP business to keep the ra
pid growth of current business. Besides, in order to secure the stable growth of domestic business, the Company w
ill actively respond to the Government Policy, Seize the development opportunity , where Chinese Government an
d Social Capital work together, fully develop the PPP investment and construction opportunity. SGW Co. Ltd wi
ll improve its business scope and profitability so as to lay a solid foundation for the everlasting development.
      During the reporting period, the company realized the total revenue of RMB 1953.5748 million, a decrease
of 6.13% compared to the same period of last year; realized the operating profits of RMB 213.0631 million, a
decrease of 5.79% compared to the same period of last year; realized the net profits attributable to shareholders of
the listed company of RMB 202.2994 million, an increase of 22.35% compared to the same period of last year.
  (2)Year-on-year changes in major financial statistics
                                                                                                                  In RMB
                                                                         YOY
                          This report period    Same period last year                         Cause change
                                                                      change(%)
Operating income
                             1,953,574,755.51       2,081,209,219.16     -6.13% 。

Operating cost               1,460,727,131.33       1,690,684,183.21    -13.60%
Sale expenses                    9,259,264.24           7,502,905.30     23.41%
                                                                                Mainly due to the setting-up of overseas
Administrative expenses        112,993,754.29          64,838,318.67     74.27% group company and overseas regional
                                                                                companies in the second half year of 2015.
                                                                                Due to the increase of overseas



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                                                           Sino Great Wall Co., Ltd. Summary of the Semi-annual Report 2016



                                                                                         management personnel in the current
                                                                                         reporting period compared to the previous
                                                                                         period.
                                                                                         Due to the increase of borrowing from
Financial expenses                   70,024,674.60          17,908,021.84      291.02%
                                                                                         financial institutions in the current period
                                                                                         Due to the change of income tax rate of the
Income tax expenses                  37,862,759.83          61,167,289.27      -38.10%
                                                                                         company’s subsidiary
R&D investment                       64,858,681.88          64,725,606.72        0.21%
                                                                                        Due to the project cash deposit as
                                                                                       collateral and expenditure of advanced
Net cash flows from
                                  -1,256,615,959.20        -243,795,872.83     415.44% payment increased largely as the overseas
operating activities
                                                                                       business increased rapidly in the current
                                                                                       period
                                                                                       Due to the payable of Wuhan Commercial
Net cash flows from
                                    -100,287,677.86         -16,471,509.45     508.86% &Vocational Hospital Co.,Ltd in the
investing activities
                                                                                       current period.
Net cash flows from                                                                      Due to the borrowing from bank increased
                                  1,383,660,404.96         177,769,654.93      678.34%
financing activities                                                                     in the current period
Net increase in cash and
                                     28,377,720.07          -82,539,347.92    -134.38%
cash equivalents
(3) Composition of principal businesses
                                                                                                                             In RMB
                                                                                                Increase/decrease Increase/decrease
                                                                             Increase/decrease
                                                                                                   of principal     of gross profit
                                                                              of reverse in the
                        Operating                            Gross profit                       business cost over rate over the
                                         operating costs                       same period of
                         revenue                               rate(%)                           the same period same period of
                                                                                the previous
                                                                                                 of previous year the previous year
                                                                                  year(%)
                                                                                                       (%)               (%)
Industry
Decoration works      514,581,944.96      430,177,995.85            16.40%           -63.02%             -63.21%              0.42%
Engineering
                         2,861,377.29         989,075.00            65.43%           -44.58%             -68.76%             26.76%
design
EPC                  1,430,818,506.77 1,029,560,060.48              28.04%           113.63%            102.36%               4.01%
Product
None
Area
Domestic              495,748,253.47      409,999,729.35            17.30%           -63.69%             -64.17%              1.11%
Overseas             1,457,710,561.70 1,050,727,401.98              27.92%           103.64%             92.34%               4.23%


IV. Matters related to financial reporting

(1)Explain change of the accounting policies, accounting estimates and measurement methods as compared with
the financial reporting of last year.

□ Applicable √ Not applicable
The accounting policies, accounting estimates or measurement methods did not change in the reporting period.

(2)Explain retrospective restatement due to correction of significant accounting errors in the reporting period.

□ Applicable √ Not applicable
No correction of significant accounting errors in the reporting period.

(3) Explain change of the consolidation scope as compared with the financial reporting of last year.

√ Applicable □ Not applicable



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                                               Sino Great Wall Co., Ltd. Summary of the Semi-annual Report 2016



    In June 2016, the alteration of business registration of Wuhan Commercial & Vocational Hospital Co.,Ltd
which was purchased by the company and becoming a wholly-owned subsidiary of the company was completed.
Therefore, the company shall incorporate it into the 2016 semi-annual consolidated statements.


(4)Explanation of the Board of Directors and the Supervisor Committee concerning the “Non-standard audit
report ” issued by the CPAs firm for the reporting period

□ Applicable √ Not applicable




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