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个股公告正文

特 力B:2015年年度报告(英文版)

日期:2016-04-15附件下载

                      深圳市特力(集团)股份有限公司 2015 年年度报告全文




SHENZHEN TELLUS HOLDING CO., LTD


         Annual Report 2015




             April 2016




                 1
                                               深圳市特力(集团)股份有限公司 2015 年年度报告全文




         Section I. Important Notice, Contents and Paraphrase

Board of Directors, Supervisory Committee, all directors, supervisors and senior
executives of Shenzhen Tellus Holding 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.
Lv Hang, Principal of the Company, Yang Jianping, person in charger of
accounting works and Ke Wensheng, person in charge of accounting organ
(accounting principal) hereby confirm that the Financial Report of 2015 Annual
Report is authentic, accurate and complete.
All directors are attended the Board Meeting for report deliberation.
China Securities Journal, Hong Kong Commercial Daily and Juchao Website
(www.cninfo.com.cn) are the media for information disclosure appointed by the
Company, all information under the name of the Company disclosed on the
above said media shall prevail. Concerning the forward-looking statements with
future planning involved in the Report, they do not constitute a substantial
commitment for investors, and investors are advised to exercise caution of
investment risks.
The Company has no plan of cash dividends carried out, bonus issued and
capitalizing of common reserves either.




                                          2
                                                                              深圳市特力(集团)股份有限公司 2015 年年度报告全文




                                                           Contents




Section I Important Notice, Contents and Paraphrase ................................................................. 2

Section II Company Profile and Main Finnaical Indexes ............................................................. 9

Section III Summary of Company Business .................................................................................. 9

Section IV Discussion and Analysis by the Management Team ................................................. 11

Section V Important Events .......................................................................................................... 27

Section VI Changes in shares and particular about shareholders............................................... 36

Section VII Preferred Stock……………………………………………………………………….40

Section VIII Particulars about Directors, Supervisors,Senior Executives and Employees ...... 45

Section IX Corporate Governance ................................................................................................. 70

Section X Financial Report ............................................................................................................. 81

Section XI Documents available for reference .............................................................................. 81




                                                                    3
                                                                         深圳市特力(集团)股份有限公司 2015 年年度报告全文




                                                     Paraphrase


                      Items                     Refers to                                Contents

CSRC                                            Refers to China Securities Regulatory Commission

SZ Exchange                                     Refers to Shenzhen Stock Exchange

                                                            Shenzhen Branch of China Securities Depository & Clearing
Shenzhen Branch of SD&C                         Refers to
                                                            Corporation Limited

Company, the Company, our Company, Tellus
                                                Refers to Shenzhen Tellus Holding Co., Ltd.
Group

Reporting period, this reporting period, this
                                                Refers to Year of 2015
year

Auto Industry and Trade Co.,                    Refers to Shenzhen Auto Industry and Trade Corporation

Zhongtian Company                               Refers to Shenzhen Zhongtian Industrial Co,. Ltd.




                                                                4
                                                                            深圳市特力(集团)股份有限公司 2015 年年度报告全文




               Section II Company Profile and Main Finnaical Indexes

I. Company information

Short form of the stock        Tellus-A, Tellus-B                        Stock code                   000025, 200025

Stock exchange for listing     Shenzhen Stock Exchange

Name of the Company (in
                               深圳市特力(集团)股份有限公司
Chinese)

Short form of the Company
                               深特力
(in Chinese)

Foreign name of the Company
                               Shenzhen Tellus Holding Co.,Ltd
(if applicable)

Legal representative           Lv Hang

Registrations add.             3/F, Tellus Building, Shui Bei Er Road, Luohu District, Shenzhen

Code for registrations add     518020

Offices add.                   15/F, Zhonghe Building, Shennan Middle Road, Futian District, Shenzhen

Codes for office add.          518031

Company’s Internet Web Site www.tellus.cn

E-mail                         ir@tellus.cn


II. Person/Way to contact

                                                        Secretary of the Board                     Rep. of security affairs

Name                                          Qi Peng                                   Sun Bolun

                                              15/F, Zhonghe Building, Shennan Middle    15/F, Zhonghe Building, Shennan Middle
Contact add.
                                              Road, Futian District, Shenzhen           Road, Futian District, Shenzhen

Tel.                                          (0755)83989378                          (0755)83989339

Fax.                                          (0755)83989386                          (0755)83989386

E-mail                                        ir@tellus.cn                              sunbl@tellus.cn


III. Information disclosure and preparation place

Newspaper appointed for information disclosure          Securities Times (Shenzhen) and Hong Kong Commercial Daily(H.K.)

Website for annual report publish appointed by CSRC http://www.cninfo.com.cn

Preparation place for annual report                     Secretariat of the Board of Directors of Shenzhen Tellus Holding Co., Ltd.

IV. Registration changes of the Company

                                                                  5
                                                                           深圳市特力(集团)股份有限公司 2015 年年度报告全文


Organization code                            19219221-0

                                             Before 26 May 1993, business scope of the Company: engaged in metal working
                                             machinery, general equipment, general component, abrasive tools, abrasive materials,
                                             instrument, micro motor, home appliances, electronic component, electronic device,
                                             electronic computer and accessories, auto parts, rubber products and construction
                                             materials. Self-operated products manufacture by the Company and owned enterprises
                                             such as self-used production raw materials, metal working machinery and general
                                             equipment; import & export of general component. Business scope of the Company
                                             changed dated 26 May 1993 as: engaged in metal working machinery, general
                                             equipment, general component, abrasive tools, abrasive materials, instrument, micro
                                             motor, home appliances, electronic component, electronic device, electronic computer
                                             and accessories, auto parts, rubber products, construction materials, metal materials,
                                             chemical materials and products, plastic products, hardware tools, warehousing &
                                             transportation and general equipment; self-operated products manufacture by the
                                             Company and owned enterprises such as self-used production raw materials and metal
                                             working machinery; import & export of general component; import and export
                                             business complies with the approval certificate (Shen Mao Guan Shen Zheng Zi
                                             No.098). Business scope of the Company changed dated 22 January 1997 as: develop
                                             enterprises (specific projects needs application); warehousing & transportation,
                                             processing on giving materials for machinery component and mechanic assembly.
                                             Domestic business and supply & marketing industry of materials (excluding
Changes of main business since listing (if
                                             monopolized commodity and commodity under special government control).
applicable)
                                             Self-operated products manufacture by the Company and owned enterprises such as
                                             self-used production raw materials and metal working machinery; import & export of
                                             general component; import and export business complies with the approval certificate
                                             (Shen Mao Guan Shen Zheng Zi No.098). Business scope of the Company changed
                                             dated 3 December 2009 as: develop enterprises (specific projects needs application);
                                             develop and operate the real estate business on the land with usage rights obtained
                                             legally; domestic business and supply & marketing industry of materials (excluding
                                             monopolized commodity and commodity under special government control); rental and
                                             management for self-owned property. Self-operated products manufacture by the
                                             Company and owned enterprises such as self-used production raw materials and metal
                                             working machinery; import & export of general component; import and export
                                             business complies with the approval certificate (Shen Mao Guan Shen Zheng Zi
                                             No.098). On 2 July 2014, business scope changed as: investment industrial projects
                                             (specific project shall be declared upon separately); domestic commerce, supply and
                                             marketing of material (monopolized commodities, commodity under special
                                             government control and licensed commodity excluded ;) self-owned property lease and
                                             management. Self-running the home-grown products of the Company and owned
                                             enterprise, personal productive material, metal working machinery, import and export
                                             business of the parts common; import and export are handle in line with the
                                             Accreditation Certificate of Foreign Trade: Shen Mao Guan Zheng Zi No. 098

                                             1. On 31 March 1997, the 159,588,000 state shares held by Shenzhen Investment
Previous      changes   for    controlling
                                             Management Co., Ltd., the only non-circulation shareholder, were transfer to SDG;

                                                                  6
                                                                                     深圳市特力(集团)股份有限公司 2015 年年度报告全文


shareholders (if applicable)                        total share capital of the Company was 220,281,600 shares while 159,588,000 state
                                                    shares held by SDG, a 72.45% in total share capital. 2. On 4 January 2006, the
                                                    13,717,440 shares, as the consideration of share merger reform, were transfer to
                                                    account of A-shareholders from SDG. After share merger reform, SDG holds 66.22%
                                                    of the total share capital of the Company. 3. On March 27, 2015, the company has
                                                    completed the non-public offering of A shares of 77,000,000, of which 6,000,000
                                                    shares are issued to the controlling shareholder - SDG, and SDG holds 51.09% of the
                                                    Company's total shares after the issuance.


V. Other relevant information

CPA engaged by the Company

Name of CPA                                  Ruihua Certified Public Accountants (LLP)

                                             3-9/F, West Tower, China Oversea Property Plaza,7# Building, 8# Yard, Yongdingmen West
Offices add. for CPA
                                             Binhe Rd., Dongcheng District, Beijing

Signing Accountants                          Yuan Longping, Qin Changming
Sponsor engaged by the Company for performing continuous supervision duties in reporting period

√Applicable □Not applicable

        Name of the sponsor              Offices add. for the sponsor     Name of sponsor representative Continuous supervision period

HUAXI Securities Co,. Ltd                                                 Yu Chenguang, Huang Bin            Until 2016-12-31
Financial consultant engaged by the Company for performing continuous supervision duties in reporting period
□ Applicable       √ Not applicable


VI. 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

                                                     2015                     2014             Changes over last year           2013

Operating income (RMB)                             303,726,790.57            464,987,527.80                  -34.68%        486,729,308.18

Net      profit      attributable       to
shareholders        of    the       listed           42,768,789.52            10,345,217.67                 313.42%             7,185,944.01
company(RMB)

Net      profit      attributable       to
shareholders of the listed company
                                                     28,588,480.42             8,775,007.16                 225.79%         -15,228,791.55
after deducting non-recurring gains
and losses(RMB)

Net     cash      flow   arising    from
                                                     80,682,627.33             6,214,706.85               1,198.25%             -2,629,634.80
operating activities(RMB)

Basic      earnings       per       share                   0.1538                    0.0470                227.23%                    0.0326


                                                                         7
                                                                            深圳市特力(集团)股份有限公司 2015 年年度报告全文


(RMB/Share)

Diluted      earnings       per      share
                                                        0.1538               0.0470                227.23%                  0.0326
(RMB/Share)

Return on Equity                                         6.21%                5.53%                     0.68%                4.02%

                                                                                       Changes over end of
                                             End of 2015          End of 2014                                     End of 2013
                                                                                            last year

Total assets (RMB)                           1,168,667,927.49         806,324,777.80                44.94%          702,180,174.03

Net       assets      attributable      to
shareholder of listed company                  868,169,052.32         191,880,262.80               352.45%          182,370,970.80
(RMB)


VII. 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
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.


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
The Company had no difference of the net profit or net assets disclosed in financial report, under either foreign accounting rules or
Chinese GAAP (Generally Accepted Accounting Principles) in the period.


VIII. Quarterly main financial index

                                                                                                                            In RMB

                                             First quarter       Second quarter           Third quarter          Fourth quarter

Operating income                                81,285,344.52          77,206,437.32          73,318,969.97          71,916,038.76

Net       profit      attributable      to
                                                   788,018.17           6,862,337.85          11,044,774.84          24,073,658.66
shareholders of the listed company

Net       profit      attributable      to
shareholders of the listed company
                                                   768,943.67           6,747,596.04           2,578,864.40          18,493,076.31
after deducting non-recurring gains
and losses

Net   cash         flow   arising    from
                                                29,617,359.36           4,245,523.34           4,042,657.15          42,777,087.48
operating activities

Whether there are significant differences between the above-mentioned financial index or its total number and the relevant financial


                                                                  8
                                                                             深圳市特力(集团)股份有限公司 2015 年年度报告全文


index disclosed in the company’s quarterly report and semi-annual report
□Yes   √ No


IX. Items and amounts of extraordinary profit (gains)/loss

√Applicable    □ Not applicable
                                                                                                                              In RMB

                     Item                            2015                   2014             2013                      Note

Gains/losses from the disposal of
non-current asset (including the write-off             -34,345.09            148,486.49     32,501,637.93
that accrued for impairment of assets)

Governmental subsidy reckoned into current
gains/losses (not including the subsidy
enjoyed in quota or ration according to                371,850.00
national standards, which are closely
relevant to enterprise’s business)

Gains and losses of investment or                                                                           Proceeds of financial
                                                     5,740,301.35
management of assets                                                                                        products

Gains/losses from contingency without
                                                       -61,965.00            438,195.19     -2,130,200.00
routine business concerned

Held transaction financial asset, gains/losses
of changes of fair values from transaction
financial liabilities, and investment gains
from disposal of transaction financial asset,
                                                                            1,226,127.75
transaction financial liabilities and financial
asset available for sales, exclude the
effective hedging business relevant with
normal operations of the Company

Restoring       of   receivable       impairment
                                                        31,980.00             47,282.17
provision that tested individually

Other non-operating income and expenditure
                                                       118,638.89            248,824.36       -391,032.13
except for the aforementioned items

                                                                                                            Terminating the
                                                                                                            post-employment bene
other items (gain/loss) conformed to the                                                                    fit plans for retirees
definition of the extraordinary profit               9,722,688.86                                           caused the reduction
(gain)/loss                                                                                                 of the present value
                                                                                                            of the benefit plan
                                                                                                            obligation

Less: Impact on income tax                           1,576,392.95            506,161.39      7,495,101.45

Impact on minority shareholders’ equity               132,446.96             32,544.06        70,568.79


                                                                  9
                                                                             深圳市特力(集团)股份有限公司 2015 年年度报告全文


(post-tax)

Total                                                14,180,309.10          1,570,210.51        22,414,735.56              --

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, 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




                                                                   10
                                                                    深圳市特力(集团)股份有限公司 2015 年年度报告全文




                       Section III Summary of Company Business

I. Main businesses of the company in the reporting period
The company's main business is auto sales; automobile inspection, maintenance and accessories sales; property
leasing and services business. In 2014, the company developed the "Business Transformation Development
Program of Test Rite Group", defined the strategic development transformation direction to jewelry industry
comprehensive service provider, during the reporting period, the company has firmly promoted the company's
strategic transformation in accordance with the strategic plan, gone into in-depth study of the industry status after
multilateral research, formed the preliminary ideas for a new business model, and indicated directions for the
company’s transformation. Below shall introduce the company’s main business and market conditions:
1. Auto sales; automobile inspection, maintenance and accessories sales: influenced by the domestic economic
slowdown and weakness of end consumer market and other factors, in 2015, the domestic automobile production
and sales growth continued to decline, the market situation of auto sales is grim. By the end of 2014, Shenzhen
Municipal Government has started to regulate and control the increment of cars, which brings tremendous impact
on car sales business in Shenzhen City, affected by this, the company’s auto sales revenue during the reporting
period was 134,916,200 yuan, a decrease of 56.47% compared to the same period of last year. In face of the
unfavorable situation, the company has promptly adjusted the business strategy, on the one hand, adjusted the sales
mode, pursued the efficiency and quality sales, and strengthened the sales profit management. On the other hand,
the company has strictly controlled the costs, simplified the staff positions, significantly reduced the financial costs;
at the same time, utilized the company’s brand advantages in automobile maintenance to enlarge and refine the
vehicle maintenance and repair and enhance the profitability growth. During the reporting period, the company’s
business income in vehicle inspection and maintenance and accessories sales and the gross margin have increased
on a year-on-year basis, while the auto sales business has reduced.
2. Property leasing and services: affected by the jewelry market condition at the end of 2014, since 2015, the rental
prices at the distributing centers for jewelry enterprises in Shuibei, Buxin areas of Shenzhen have shown a
downward trend, the lessees in these areas have kept requiring for reducing the rents or terminating the contracts
ahead of schedule. In face of this unfavorable situation, the company has adhered to market-oriented operation, and
realized the promotion of rental unit price and market value by developing the rental price system close to the
market level; actively responded to declining rents, surrender of tenancy, and rent reduction, etc., improved the
service quality, strengthened the propagation, and properly resolved the customer appeals; actively explored the
market, integrated the resources, taken various measures to improve the lease area and rental prices, and finally
achieved the annual rent revenue with a year-on-year growth of 29.8%.
3. Property management business: currently, the property management industry has entered a new period of
development. With the popularity of mobile intelligent terminals, the Internet, Internet of Things and other
intelligent community have become a new trend in property development. In order to meet the new situation, the
company has taken various measures to actively face the market changes. On the one hand, the company tried to
stimulate the employees’ enthusiasm and sense of service through innovative management models, improved the
operational efficiency by establishing the service regulatory system and increasing the revenue and reducing the
expenditure, during the reporting period, the property management business has reduced 1.84 million yuan on a
year-on-year basis; on the other hand, the company shall take the property management project of Tellus Shuibei
Jewelry Building as an opportunity, learn from the outstanding enterprises, effectively improve the service
capabilities, lay a solid foundation for fully taking over Tellus Shuibei Jewelry Building, and transform to high-end

                                                           11
                                                                      深圳市特力(集团)股份有限公司 2015 年年度报告全文


property management services.
The company will strive to improve the business management and cost control levels, maintain the stability of
existing business, explore and promote the strategic landing program, and accelerate the pace of transformation in
accordance with the established strategic direction.

II. Major changes in main assets

1. Major changes in main assets


                Major assets                                          Note of major changes


Equity assets                         No major change

Fixed assets                          No major change

Intangible assets                     No major change

                                      Up to December 31,2015,the value of construction in progress is 27,905.67 Million Yuan,
Construction in progress              increases 15,650.52 Million Yuan compared with the early period,which comes from the
                                      continuous input of Shuibei building


2. Main overseas assets

□ Applicable √ Not applicable

III. Core Competitiveness Analysis
Shenzhen is the main gathering place of China's jewelry industry, Shuibei is the core gathering area of Shenzhen
jewelry industry, the company holds a large number of properties in Shuibei area, and has provided various stable
services for many leading enterprises in jewelry industry in Shenzhen and established good cooperative relations
with many jewelry enterprises over the years; the project of Tellus Jimeng Gold Jewelry Industrial Park located in
Shuibei core area has been listed as one of the 11 pilot projects in the transformation of old industrial zones of
Shenzhen City, the company shall become the largest owner of this industrial park through its wholly owned and
joint owned and associated enterprises. Currently all renovation projects in the industrial park have almost been
completed and will be put into use in 2016. The company can make use of leading enterprises in jewelry industry
that have strategic partnership with the company to gather the jewelry enterprises and attract talents to enter the
industrial park.
As a state-owned holding listed company, the company has good market credibility, and possesses diversified and
low-cost financing channels, by virtue of the identity of the third party jewelry operator,can attract distributors by
providing resources, financial services and capital operation to the jewelry manufacturers, and builds regional
channel platform. After the formation of regional channel platforms, the company can provide more services for the
jewelry manufacturers in industrial park. Meanwhile, with the help of channel resources and financial services, the
company can enhance the attractiveness to retailers and create a terminal platform for regional retails, and
eventually form an ecological circle for Tellus jewelry industry, therefore, the company can integrate each industry
chain in the ecological circle and generate preliminary market influence on the industry upstream and downstream
by gathering the manufacturers, distributors, terminal retailers resources with the identity of the third party jewelry
operator.


                                                            12
                                                                           深圳市特力(集团)股份有限公司 2015 年年度报告全文



        Section IV Discussion and Analysis by the Management Team
1. Introduction
(1) Introduction of the company
In 2015, the global economy has shown the profound adjustment, the overall economic recovery in developed
countries has been unstable, the economic growth rate of emerging economies has slowed down, affected by
optimization of economic structure, conversion of growth momentum, and deepening of reform, the domestic
economic growth has also slowed down and entered the new normal of turning from high-speed growth into
medium and high-speed growth. In face of the complex external environment, under the leadership of the board of
directors, the company has unswervingly promoted the strategic transformation of the company, developed a
third-party platform to focus on the jewelry industry, continued to promote the integration, transformation and
upgrading of jewelry industry, built an ecological circle for Tellus jewelry industry, and enhanced the industry
value chain.
During the reporting period, the company has achieved operating income of 303,730,000 yuan, reduced by
161,260,000 yuan compared with 464,990,000 yuan in the same period of last year, a decrease of 34.7%, which is
mainly because the auto revenue of Huari Company has greatly declined affected by the car-purchase restriction
policy. Total profits are 47,290,000 yuan, an increase of 37,260,000 yuan compared with 10,030,000 yuan in the
same period of last year, the net profit belonging to parent company is 42,770,000 yuan, an increase of 32,420,000
yuan compared with 10,350,000 yuan in the same period of last year. The main reasons for the increase in total
profit are: ①During the reporting period, due to the termination of relevant employee retirement benefit plan and
the release of long-term employee pay payable and period expenses of 9.72 million yuan, the total profit has
increased by 9.72 million yuan, and the net profit belonging to shareholders of listed company has increased by
8.49 million yuan; ② rental income has increased by 17,460,000 yuan; ③ financial expenses have decreased by
10.2 million yuan (excluding Huari Company), mainly because the interest on bank loans has decreased, and the
income of financial products preserving for interest and principle have increased; ④ operation income of Huari
Company has reduced by 3.39 million yuan on a year-on-year basis. Profit-cutting factors are mainly due to the
sharp decline in operating performance of shareholding enterprise - Zung Fu Company, the investment income has
reduced by 12 million yuan on a year-on-year basis. Net profit attributable to shareholders of listed companies
after deducting non-recurring gains and losses is 28,590,000 yuan, an increase of 19,810,000 yuan compared with
the same period of last year.
II. Main business analysis
1. Introduction

See the “I-Introduction” in “Discussion and Analysis by the Management Team”


2. Revenue and cost

(1) Constitute of operation revenue

                                                                                                                         In RMB

                                         2015                                      2014
                                                                                                            Increase/decrease
                                              Ratio in operation                       Ratio in operation
                            Amount                                      Amount                                   y-o-y
                                                   revenue                                  revenue


                                                                   13
                                                                              深圳市特力(集团)股份有限公司 2015 年年度报告全文


Total of operation
                             303,726,790.57                100%         464,987,527.80                   100%               -34.68%
revenue

According to industries

Auto sales                   134,916,197.98              44.42%         309,927,524.30                 66.65%               -56.47%

Auto inspection and
maintenance and               48,256,203.33              15.89%          45,604,870.24                  9.81%                  5.81%
accessories sales

Property rental and
                             107,533,087.06              35.40%          96,018,663.22                 20.65%                11.99%
service

Other                         13,021,302.20               4.29%          13,436,470.04                  2.89%                 -3.09%

According to products

Auto sales                   134,916,197.98              44.42%         309,927,524.30                 66.65%               -56.47%

Auto inspection and
maintenance and               48,256,203.33              15.89%          45,604,870.24                  9.81%                  5.81%
accessories sales

Property rental and
                             107,533,087.06              35.40%          96,018,663.22                 20.65%                11.99%
service

Other                         13,021,302.20               4.29%          13,436,470.04                  2.89%                 -3.09%

According to region

Shenzhen                     303,726,790.57                             464,987,527.80


(2) About the industries, products, or regions accounting for over 10% of the company’s operating income
or operating profit

√Applicable   □ Not applicable
                                                                                                                              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

Auto sales            134,916,197.98    128,438,474.70                4.80%            -56.47%            -57.97%              3.39%

Auto inspection
and maintenance
                        48,256,203.33    38,505,305.64             20.21%               5.81%               5.01%              0.61%
and accessories
sales

Property rental
                      107,533,087.06     46,464,850.80             56.79%              11.99%               3.82%              3.40%
and service

According to products



                                                                 14
                                                                                  深圳市特力(集团)股份有限公司 2015 年年度报告全文


Auto sales              134,916,197.98      128,438,474.70                4.80%           -56.47%            -57.97%                  3.39%

Auto inspection
and maintenance
                         48,256,203.33       38,505,305.64             20.21%               5.81%              5.01%                  0.61%
and accessories
sales

Property rental
                        107,533,087.06       46,464,850.80             56.79%              11.99%              3.82%                  3.40%
and service

According to region

Auto sales              134,916,197.98      128,438,474.70                4.80%           -56.47%            -57.97%                  3.39%

Auto inspection
and maintenance
                         48,256,203.33       38,505,305.64             20.21%               5.81%              5.01%                  0.61%
and accessories
sales

Property rental
                        107,533,087.06       46,464,850.80             56.79%              11.99%              3.82%                  3.40%
and service

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

(3) Income from physical sales larger than income from labors
√ Yes □ No

                                                                                                                     Increase/decrease
        Industries                 Item                  Unit                 2015                   2014
                                                                                                                             y-o-y

                        Sales volume           vehicle                                   882                 2,026                -56.47%
Auto sales (vehicle)
                        Storage                vehicle                                    87                   329                -73.56%

Reasons for y-o-y relevant data with over 30% changes
√Applicable     □ Not applicable

The current sales volume decrease is mainly due to the influence of car-purchase restriction policy in Shenzhen,
the vehicle sales number has reduced on a year-on-year basis; the decrease in inventory is mainly because the
suppliers have adjusted the annual targets and intensify efforts to clean up inventory at the beginning.

 (4) Fulfillment of the company’s signed significant sales contracts up to this reporting period

□ Applicable √ Not applicable


(5) Constitute of operation cost

Classification of industries and products
                                                                                                                                     In RMB

                                                          2015                                 2014                      Increase/decrease
    Industries              Item
                                              Amount         Ratio in operation       Amount        Ratio in operation        y-o-y


                                                                     15
                                                                                  深圳市特力(集团)股份有限公司 2015 年年度报告全文


                                                                   cost                                      cost

Auto sales            Auto products         128,438,474.70             58.92%       305,567,651.81              78.47%               -57.97%

Auto inspection
and maintenance
                      Raw materials          38,505,305.64             17.66%         36,668,260.73                 9.42%              5.01%
and accessories
sales

Property rental
                      Other                  46,464,850.80             21.31%         44,756,421.29             11.49%                 3.82%
and service

Other                 Other                   4,583,585.06                2.11%        2,431,285.86                 0.62%            88.53%

                                                                                                                                      In RMB

                                                        2015                                     2014
                                                                                                                            Increase/decrease
       Products               Item                           Ratio in operation                       Ratio in operation
                                              Amount                                   Amount                                    y-o-y
                                                                   cost                                      cost

Auto sales            Auto products         128,438,474.70             58.92%       305,567,651.81              78.47%               -57.97%

Auto inspection
and maintenance
                      Raw materials          38,505,305.64             17.66%         36,668,260.73                 9.42%              5.01%
and accessories
sales

Property rental
                      Other                  46,464,850.80             21.31%         44,756,421.29             11.49%                 3.82%
and service

Other                 Other                   4,583,585.06                2.11%        2,431,285.86                 0.62%            88.53%

Note

Operation cost for year of 2015 was RMB 217,992,216.20, a 44.02% decline y-o-y. Main business cost was RMB
213, 408,631.14, a 44.85% decline y-o-y.

(6) Whether the changes in the scope of consolidation in Reporting Period

□ Yes √ No


(7) Major changes or adjustment in business, product or service of the Company in Reporting Period

□ Applicable √ Not applicable

(8) Major sales and main suppliers
Major sales client of the Company

Total top five clients in sales (RMB)                                                                                          15,105,153.41

Proportion in total annual sales volume for top five clients                                                                           4.97%

Information of top five clients of the Company

    Serial                           Name                             Sales (RMB)                     Proportion in total annual sales

1              Shenzhen Renfu Tellus Automobile Service                           5,300,000.00                                         1.74%


                                                                     16
                                                                           深圳市特力(集团)股份有限公司 2015 年年度报告全文


             Co., Ltd.

             Shenzhen Yiquan Investment Consultants
2                                                                          3,528,000.00                                       1.16%
             Co., Ltd.

3            Shenzhen Branch of Ping An Bank Co., Ltd.                     2,215,037.00                                       0.73%

4            He Junyi                                                      2,101,733.08                                       0.69%

5            Shenzhen Power Supply Bureau Co. Ltd.                         1,960,383.33                                       0.65%

Total                             --                                      15,105,153.41                                       4.97%

Other situation of main clients
□ Applicable √ Not applicable
Main suppliers of the Company

Total purchase amount from top five suppliers (RMB)                                                                  131,539,531.75

Proportion in total annual purchase amount for top five
                                                                                                                             96.69%
suppliers

Information of top five suppliers of the Company

    Serial                        Name                           Sales (RMB)                   Proportion in total annual sales

1             FAW TOYOTA Motor Sales Co., Ltd.                           111,445,306.09                                      81.92%

2             Shenzhen Huatong Auto Parts Co., Ltd.                       15,970,557.66                                      11.74%

              TOYOTA Motor (China) Investment Co.,
3                                                                          2,161,130.00                                       1.59%
              Ltd.

              Guangzhou Xinju Enterprise Development
4                                                                            992,999.00                                       0.73%
              Co., Ltd.

              Shenzhen New Wanxing Industrial Co.
5                                                                            969,539.00                                       0.71%
              Ltd.

Total                              --                                    131,539,531.75                                      96.69%

Other notes of main suppliers of the Company
□ Applicable √ Not applicable


3. Expenses

                                                                                                                             In RMB

                                                                         Increase/decrease
                                       2015              2014                                        Note of major changes
                                                                              y-o-y

                                                                                             Mainly affected by the purchase limit
Sales expense                      14,718,877.28         21,073,376.98            -30.15% of the car policy, reduced car sales lead
                                                                                             to reduced car sales cost

                                                                                             Mainly due to the release of long-term
Management expense                 32,881,868.90         43,509,348.15            -24.43% employee pay payable and period
                                                                                             expenses


                                                                17
                                                                                 深圳市特力(集团)股份有限公司 2015 年年度报告全文


                                                                                                 Mainly due to the decrease in interest
Financial expense                        4,343,688.83          17,771,137.44           -75.56%
                                                                                                 expense and increase in interest income


4. R&D investment

□ Applicable √ Not applicable


5. Cash flow

                                                                                                                                    In RMB

                  Item                             2015                             2014                          Y-o-y changes

Subtotal of cash in-flow from
                                                        354,088,861.88                 524,941,895.67                             -32.55%
operation activity

Subtotal of cash out-flow from
                                                        273,406,234.55                 518,727,188.82                             -47.29%
operation activity

Net cash flow from operation
                                                         80,682,627.33                     6,214,706.85                       1,198.25%
activity

Subtotal of cash in-flow from
                                                        372,580,441.92                     6,803,919.00                       5,375.97%
investment activity

Subtotal of cash out-flow from
                                                        732,978,461.70                 103,733,506.30                             606.60%
investment activity

Net cash flow from investment
                                                        -360,398,019.78                -96,929,587.30                             275.97%
activity

Subtotal of cash in-flow from
                                                        660,198,215.03                 505,529,894.01                             30.60%
financing activity

Subtotal of cash out-flow from
                                                        361,209,488.42                 397,936,251.56                              -9.23%
financing activity

Net cash flow from financing
                                                        298,988,726.61                 107,593,642.45                             177.89%
activity

Net increased amount of cash
                                                         19,139,041.28                  16,879,221.55                             13.39%
and cash equivalent

Main reasons for y-o-y major changes in aspect of relevant data
√Applicable      □ Not applicable

           Item                       2015                      2014               Y-o-y changes                     Note

                                                                                                      Mainly because automobile sales
Cash inflows from                                                                                     revenue   declined    which     was
                                  354,088,861.88                524,941,895.67              -32.55%
operating activities                                                                                  affected by the purchase of the car
                                                                                                      policy

Cash       flow     from          273,406,234.55                518,727,188.82              -47.29% Mainly because the increase efforts



                                                                       18
                                                                            深圳市特力(集团)股份有限公司 2015 年年度报告全文


operating activities                                                                            to sell the beginning of inventory
                                                                                                and     the   reduction    in     vehicle
                                                                                                purchases

                                                                                                Mainly because the subsidiary
                                                                                                Huari Toyota Company has sold
Net cash flow from                                                                              the inventory vehicles of last year
                                     80,682,627.33           6,214,706.85           1,198.25%
operation activity                                                                              in current period resulting in an
                                                                                                increase in net operating cash
                                                                                                inflow

                                                                                                Mainly        because      the      bank
Subtotal    of     cash                                                                         guaranteed financial products are
in-flow            from          372,580,441.92              6,803,919.00           5,375.97% due and withdrawn in current
investment activity                                                                             period resulting in increase in cash
                                                                                                inflow

                                                                                                Mainly because the purchase of
                                                                                                bank guaranteed financial products
Subtotal    of     cash
                                                                                                and     continuous      investment     in
out-flow           from          732,978,461.70            103,733,506.30             606.60%
                                                                                                construction projects of Zhongtian
investment activity
                                                                                                Company in current period have
                                                                                                increased the cash outflow

                                                                                                Mainly because the purchase of
                                                                                                bank guaranteed financial products
                                                                                                in current period has increased the
Net cash flow from
                                -360,398,019.78            -96,929,587.30                       expenditures and the continuously
investment activity
                                                                                                investment of the construction
                                                                                                projects      increased     the      cash
                                                                                                expenditures

                                 660,198,215.03            505,529,894.01               30.60% Mainly because the directional
Subtotal    of     cash
                                                                                                issuance of additional placement in
in-flow            from
                                                                                                current period has increased the
financing activity
                                                                                                cash inflow

                                                                                                Mainly because the directional
                                                                                                issuance of additional placement in
Net cash flow from                                                                              current period has increased and
                                 298,988,726.61            107,593,642.45             177.89%
financing activity                                                                              the bank financing net expenditures
                                                                                                have increased on a year-on-year
                                                                                                basis

Reasons of major difference between the cash flow of operation activity in report period and net profit of the Company
√Applicable     □ Not applicable

In current period, the cash inflow increased by directional issuance of additional placement and the cash outflow
increased by credit repayment have increased the net cash flow of 298,988,726.61 yuan from the financial


                                                                 19
                                                                               深圳市特力(集团)股份有限公司 2015 年年度报告全文


activities; at the same time, net cash flow from the increase of financial products investment and the investing
activities for Shuibei Jewelry Building is - 360,398,019.78 yuan.

III. Analysis of the non-main business

□ Applicable √ Not applicable


IV. Assets and liability

1. Major changes of assets composition

                                                                                                                                  In RMB

                             End of 2015                    End of 2014
                                                                                        Ratio
                                      Ratio in total                  Ratio in total                     Notes of major changes
                       Amount                           Amount                         changes
                                         assets                          assets

                    159,184,710.9                                                                Private placement to raise funds to
Monetary fund                               13.62% 80,045,669.65             9.93%       3.69%
                                  3                                                              increase

Account
                        562,051.31           0.05%     1,373,257.89          0.17%      -0.12%
receivable

Inventory           16,151,336.61            1.38% 48,209,026.18             5.98%      -4.60% Automobile inventory reduction

Investment
                    82,100,133.48            7.03% 85,083,745.72            10.55%      -3.52%
property

Long-term equity 220,180,721.2
                                            18.84% 211,270,265.80           26.20%      -7.36%
investment                        9

                    136,583,565.0
Fix assets                                  11.69% 142,849,121.72           17.72%      -6.03%
                                  0

Construction     in 279,056,650.3                                                                Major transit companies in the
                                            23.88% 122,551,469.97           15.20%       8.68%
process                           5                                                              construction project continued to invest

                                                                                                 This issue is mainly due to the return of
                                                                                                 bank borrowings and loans to the
Short-term loans                             0.00% 74,719,672.00             9.27%      -9.27%
                                                                                                 parent company will be re classified to
                                                                                                 other payment

Long-term loans                              0.00% 178,597,550.55           22.15% -22.15%


2. Assets and liability measured by fair value

□ Applicable √ Not applicable




                                                                  20
                                                                            深圳市特力(集团)股份有限公司 2015 年年度报告全文


V. Investment

1. Overall situation

□ Applicable √ Not applicable


2. The major equity investment obtained in the reporting period

□ Applicable √ Not applicable


3. The major non-equity investment doing in the reporting period

□ Applicable √ Not applicable


4. Financial assets investment

(1) Securities investment
□ Applicable √ Not applicable
The company had no securities investment in the reporting period.


(2) Derivative investment

□ Applicable √ Not applicable
The Company has no derivatives investment in the Period


5. Application of raised proceeds

√Applicable □Not applicable


(1) Overall application of raised proceeds

√Applicable □Not applicable
                                                                                                                     In 10 thousand Yuan

                                                                                                                  Usage of
                                                                          Cumulativ     Ratio of                    the
                                                               Total
                                                                           e raised    cumulative                 retained
                                      Total        Total       raised                                 Total                     Raised
                                                                           capitals      raised                    raised
                            Total     raised     accumulati capital has                             accumulati                  capitals
                                                                             has        capitals                  capitals
   Year         Way        raised     capital    ve raised purpose of                               ve raised                   idle for
                                                                          purpose of      has                     and what
                          capitals     used       capitals      uses                                 capitals                  more than
                                                                             uses      purpose of                is expected
                                     in Period      used     changed in                              unused                    two years
                                                                          changed in      uses                   to invested
                                                               Period
                                                                            total       changed                  with those
                                                                                                                  capitals




                                                                 21
                                                                                      深圳市特力(集团)股份有限公司 2015 年年度报告全文


                                                                                                                           The
                                                                                                                           Company
                                                                                                                           used
                                                                                                                           temporaril
                                                                                                                           y idle
                                                                                                                           funds to
                                                                                                                           purchase
                                                                                                                           guaranteed
             Non -                                                                                                         financial
2015        Public       63,352.00 39,723.44 39,723.44                       0              0        0.00% 63,352.00 products                        0
            Offering                                                                                                       230
                                                                                                                           million
                                                                                                                           yuan, raise
                                                                                                                           funds
                                                                                                                           account
                                                                                                                           balances
                                                                                                                           for
                                                                                                                           12,221,500
                                                                                                                           yuan

Total            --      63,352.00 39,723.44 39,723.44                       0              0        0.00% 63,352.00              --                 0

                                            Explanation on General usage of raised capital

According to the “Proposal of the company’s plan for non-public offering of shares” and other related proposals deliberated and
approved by the company’s 19th extraordinary meeting of the seventh board of directors and the 4th extraordinary general meeting
of 2014, and the “Approval for non-public offering of shares of Shenzhen Test Rite (Group) Co., Ltd.” (CSRC license No.
[2015]173) approved by China Securities Regulatory Commission, the Company has adopted non-public offering of shares to issue
RMB ordinary shares (A shares) of 77 million shares, and the issue price is 8.40 yuan /share. The total raised funds of this issuance
are 646,800,000 yuan, the net amount of raised funds is 633,520,000 yuan after deducting the issuance costs of 13,280,000 yuan.
On March 12, 2015, Ruihua Certified Public Accountants (special general partnership) has verified the capital of this issuance and
issued "Capital Verification Report" RHYZ No. [2015]48330003. During the reporting period, the company has totally put into
raised funds of 397,234,400 yuan, and accumulated to put into raised funds of 397,234,400 yuan, including 205,734,400 yuan used
for Tellus Shuibei Jewelry Building, and 191,500,000 yuan used to supplement working capital.


(2) Situation of committed project of raised proceeds

√Applicable □Not applicable
                                                                                                                                 In 10 thousand Yuan
                                                                           Amount Investme
                         Projects     Total                                                          Predicted                             Project
                                                                                 of         nt
                         changed committe        Total     Amount                                    serviceab    Profit     Reach the feasibility
Committed investment      or not        d                                  accumula program
                                               investme invested                                        le       realized predicted         was
 projects &investment    (includin investme                                   ted         till the
                                                nt after    in this                                  condition   in this     interest or changed
     of raised fund             g     nt of                                investme period-en
                                               adjustme    period                                     date of     year              not   hugely or
                         changed     raised                                nt till the       d
                                                                                                      project                                not
                         partially) capitals                               period-en (3)=(2)/(1


                                                                      22
                                                                                深圳市特力(集团)股份有限公司 2015 年年度报告全文


                                                 nt (1)                 d (2)         )




Investment project commitment
Tellus Shuibei Jewelry
                         No            26,000     26,000 20,573.44 20,573.44        79.13% 2016.12.1           0 No         No
Building

Liquid assets
supplementation of the No           37,352.00 37,352.00      19,150     19,150      51.27%                     0 No         No
Company

Subtotal of
                              --    63,352.00 63,352.00 39,723.44 39,723.44           --       --              0      --         --
commitment projects

Investment orientation for fund arising out of plan

Not applicable

Total                         --    63,352.00 63,352.00 39,723.44 39,723.44           --       --              0      --         --

                         1. Tellus Shuibei Jewelry Building has currently completed the main construction, of which the office
                         building is expected to be put into use in November 2016 and the podium building is expected to be put
                         into use in December 2016. 2. In the investment projects of raised funds for supplementing the company's
                         working capital: (1) Repayment of bank loans of 191,500,000 yuan has been completed in the reporting
                         period. (2) The newly increased renovation costs of Tellus Shuibei project will be put into use as planned
                         according to the project implementation progress,Actual investment may be less than the original plan. (3)
                         Jewelry e-commerce business: the jewelry e-commerce business market is highly competitive, payback
                         period is long, the company needs to invest huge marketing costs and resources in the business incubation
                         period and withstand a certain operating risks and losses, which may bring adverse effects on the
                         company’s overall performance if investing the jewelry e-commerce platform according to the original
Situation about not      plan under the current market situation, so the company has decided to suspend the plan to use raised funds
coming up to schemed to invest in this project. So we decided not to use the funds raised to invest in the project. (4) Jewelry retail
progress or expected     market business: since 2015, affected by the decline of prosperity in jewelry industry and the raise of
revenue and the          property costs, large jewelry retail markets across the country have shrunk the business and reduced the
reason(In specific       income and profits, if the company continued to invest large funds into the jewelry retail market, the
project)                 business risks would be large, so the company has planned to reduce the investment scale in single retail
                         market, change to cooperate with the jewelry distributors and operators in some second and third tier cities,
                         establish the small jewelry retail stores with the help of their managerial experience and industry resources,
                         accumulate the industry experience, and train the management team so as to enlarge the investment scale
                         when the industry climate becomes better.     (5) Jewelry training business: this project has not yet been put
                         into use. The company has started to investigate some schools in early 2015 and found that there are
                         already many jewelry training schools in Shenzhen Shuibei area and the market competition is rather
                         intense; at the same time, affected by the decline of prosperity in jewelry industry, the demand for training
                         business has substantially reduced. If the company invests in the construction of jewelry training schools,
                         the return on investment is relatively low and the payback period is long, so the company has decided to
                         suspend the investment plan for this project, and wait to argue until the business of jewelry service industry

                                                                  23
                                                                             深圳市特力(集团)股份有限公司 2015 年年度报告全文


                          goes smoothly and enough resources are accumulated. The raised funds in the original plan shall be used
                          for other projects. (6) Automobile leasing business supporting the jewelry market: the project has not yet
                          been put into use. One main reason is that Shenzhen Municipal Government announced the
                          implementation of car-purchase restriction policy on December 29, 2014, the car purchase takes two
                          methods, i.e. lottery and bidding, this policy made the company unable to carry out this business as
                          planned; another reason is that the prosperity of jewelry industry has declined, the demand for automobile
                          leasing has greatly reduced in jewelry industry of Shuibei, and the business prospects are influenced, so the
                          company has decided to cancel the investment in this project. The raised funds in the original plan shall be
                          used for other projects.
Explanation on great
changes of feasibility    Not applicable
of project

Amount, usage and         Not applicable
progress of using for
fund raising out of the
plan

Change of                 Not applicable
implementation place
of investment project
of raised capitals

Adjustment of             Not applicable
implementation way
for investment project
of raised capitals

                          Applicable

                          On April 27, 2015, the company held the thirtieth interim meeting of the seventh board of directors which

Regulation of             deliberated and approved the motion about replacing the self-raised funds beforehand invested in

implementation ways       fundraising project with the raise funds, and agreed the company to replace the self-raised funds of

of investment project     114,162,000 Yuan invested in fundraising project with the raise funds, of which 15.6 million Yuan was

of raised capitals        used to replace and supplement the beforehand invested self-raised funds of the company’s circulating
                          funds and 98,562,000 Yuan was used to replace and supplement the beforehand invested self-raised funds
                          of Tellus Shuibei Jewelry Building project. The company’s independent director and sponsor institution
                          have expresses their agreement on this matter.
Temporarily               Not applicable
supplement for the
current capitals with
idle raised capitals

Temporarily               Not applicable
supplement for the
current capitals with
idle raised capitals

Invested in pre-phases On April 28, 2015, the company held the twelfth meeting of the seventh board of directors which


                                                                   24
                                                                              深圳市特力(集团)股份有限公司 2015 年年度报告全文


and replacement for        deliberated and approved the proposal on the use of some idle raised funds to buy guaranteed financial
raised fund projects       products, authorized the company and its subsidiary – Zhongtian Company to use the idle funds to
                           purchase guaranteed financial products, the total amount should not be more than 350 million yuan. As of
                           December 31, 2015, the balance of the company’s financial products is 230 million yuan. The remaining
                           unused raised funds and financial income of 12,221,500 yuan have been saved in special account
                           according to the regulations of "Raised-funds Management System" for subsequent construction of
                           investment projects.

Issues or other
conditions found in use
                           Not applicable
of fund raised and
disclosure


(3)The changed project of raised proceeds

□ Applicable √ Not applicable
The Company has no project of raised proceeds changed in the Period


VI. Sales of major assets and equity

1. Sales of major assets

□ Applicable √ Not applicable
The Company had no sales of major assets in the reporting period.


2. Sales of major equity

□ Applicable √ Not applicable


VII. Analysis of main holding company and stock-jointly companies

√Applicable □ Not applicable
Particular about main subsidiaries and stock-jointly companies net profit over 10%
                                                                                                                               In RMB

  Company                               Main        Register                                   Operating       Operating
                       Type                                    Total assets   Net Assets                                       Net profit
    name                            business         capital                                   revenue          profit

Shenzhen
Auto                              Sales of auto
                                                  RMB 58.96
Industry and Subsidiary           and                          294,288,382. 250,732,485. 18,563,825.4 19,925,371.4 17,846,264.7
                                                  million
Trade                             accessories                            93            52                  2               3                5
Corporation

Shenzhen SD                       Auto
                                                  US$ 5
Huari             Subsidiary      maintenance                  73,502,086.1 30,526,668.1 32,837,537.5 -3,024,915.9 -2,773,873.6
                                                  million
Automobile                        and                                     6                4               5               6                2


                                                                   25
                                                                            深圳市特力(集团)股份有限公司 2015 年年度报告全文


Enterprise                      production
Co.                             and sales of
Limited                         accessories

Shenzhen
Zhongtian                       Property        RMB 267.25
                Subsidiary                                   394,002,212. 284,052,220.
Industrial                      rental          million                                   4,955,918.04 4,284,793.54 3,217,472.27
                                                                      49             74
Co., Ltd

Shenzhen
Huari Toyota                    Sales of        RMB 2
                Subsidiary                                   38,009,203.4 -6,909,011.5 185,704,704.
Automobile                      automobile      million                                                  1,472,011.51 1,559,595.56
                                                                       6              0            44
Sales Co. Ltd

Shenzhen
                                Manufacture
Xinyongtong
                                of inspection
Auto Vehicle                                    RMB 19.61
                Subsidiary      equipment                    14,902,191.7                                               934,101.38
Inspection                                      million                     2,526,780.16 4,085,453.00 1,251,276.89
                                for motor                              9
Equipment
                                vehicle
Co., Ltd.

Shenzhen
Tellus                          Inspection
Xinyongtong                     and repair of RMB 32.90
                Subsidiary                                   83,371,768.3 45,271,182.8 12,820,360.5
Automobile                      motor           million                                                  2,261,995.35 1,660,758.33
                                                                       8              6             8
Development                     vehicle
Co. Ltd

Shenzhen SD                     Real estate
Tellus Real                     developmen RMB 31.15
                Subsidiary                                   28,643,517.1 11,983,974.3               -    113,178.46    113,178.46
Estate Co.,                     t and           million
                                                                       2              0
Ltd                             operation

Shenzhen SD
Tellus
                                Property        RMB
Property        Subsidiary                                   35,049,202.8 12,008,576.2 41,045,926.7
                                management 7.05million                                                   2,323,460.26 1,927,740.64
Management                                                             7              2             6
Co., Ltd

Shenzhen
Tellus Real                     Trading
                                                RMB 2
Estate          Subsidiary      agency of                                                   74,950.00      -32,021.16   -32,021.16
                                                million      2,577,341.06 2,450,205.81
Exchange                        real estate
Co. Ltd

Shenzhen
Zung Fu                         Sales of auto
                Stock jointly                   RMB 30
Tellus Auto                     and                          544,475,609. 206,547,850. 457,918,003. -39,304,240. 50,882,918.2
                company                         million
Service Co.,                    maintenance                           29             48            79             42            7
Ltd.


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                                  Manufacture
Shenzhen
                                  and
Dongfeng       Stock jointly                    RMB 100
                                  maintenance                 310,254,516. 207,850,195. 876,992,496.
Automobile     company                          million                                                2,618,933.00 5,242,659.00
                                  of                                   00           00           00
Co., Ltd.
                                  automobile

Particular about subsidiaries obtained or disposed in report period
□ Applicable √ Not applicable
Notes of holding and shareholding companies


VIII. Structured vehicle controlled by the Company

□ Applicable √ Not applicable

IX. Future Development Prospects
(I) The Company’s future development strategy
1. The status and tendency of jewelry industry
Affected by the economic environment, the 10-year golden development period for jewelry came to an end and the
jewelry industry had stagnation and decline in recent two years, the industrial shrink brought great impact on every
link of jewelry industry chain. The industrial competition made higher requirements for the capital, operations,
channels, technology, marketing of jewelry enterprises, and many jewelry enterprises actively or passively started
the transition from disordered competition to the request of more rational development approach.
In the long term, benefiting from the consumption upgrade, the jewelry industry still has huge room for
development. Compared to the United States, Japan, Britain, France and other countries, China's per capita
consumption of jewelry is significantly low, the consumption of diamonds and multicolored jewelries continue to
increase, which provides long-term source of profits for the jewelry industry.
2. The company’s strategic planning assumptions
Since the establishment of strategic development direction, the company has conducted in-depth research in the
jewelry market across the country, and constructed the design creativity and wechat entrepreneurial platform based
on the physical platform of Tellus Shuibei jewelry industrial park; established the regional channel platform and
regional retail terminal platform, created the whole industry chain trading service platform; taken financial services
as a link to achieve the interoperability across platforms, build large data centers for jewelry industry, and strive to
build the planning assumptions of Tellus jewelry industry ecosystem.
(1) Shuibei jewelry industrial park
Currently, Tellus Shuibei Jewelry Building project in Shuibei jewelry industrial park
is expected to put into use by the end of 2016, Golden Plaza constructed by joint venture – Shenzhen Tellus
Jimeng Investment Co., Ltd. is expected to put into use in August 2016, Xinglong Gold Jewelry Building
(formerly known as "Shenzhen Shuibei Xinglong R & D Center Building ") constructed by joint-stock company -
Shenzhen Xinglong Machinery Mould Co., Ltd. is expected to put into use in July 2016.
After the completion of above-mentioned key projects, the company can take the jewelry manufacturers gathered
by physical platform as the basis, connect the channels and manufacturers by taking financial services as a link to
meet the business development requirements of both sides and get mutual benefit. Meanwhile, the company can
integrate various elements of industry chain based on the industrial park, construct the design creativity and wechat
entrepreneurial platform, increase the attractiveness to manufacturers and channel partners, and cultivate the new
profit growth points.

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(2) Regional channel platform
Through the in-depth study to jewelry industry, the company thinks that channels are the core connecting link
between the preceding and the following of the entire jewelry industry chain. The regional channel platform has
wide development space and high profitability level, and can directly involve in the industrial chain management,
the company can take the construction of regional channel platform as the starting point and provide the whole
industry chain services to get more profits and make a certain impact on jewelry industry at the same time.
The company may create a regional channel platform, develop and expand the platform through the financial
services of supply chain, gradually form a national channel platform, obtain the main sources of profits through
financial and other additional services and get the future growth space by grafting e-commerce so as to make a
certain influence on the upstream and downstream of jewelry industry.
(3) Regional retail terminal platform
The company plans to extend the business to jewelry industrial chain terminals-- retail terminal platform.In virtue
of the resources of Shuibei manufacturers and channels in various regions, enhance the attractiveness to retailers
by providing financial services and e-commerce business, expand the scale of the terminal platform, and gradually
form a national jewelry retail terminal platform.
(4) Financial services of jewelry
According to the company's strategic framework and physical platform construction progress, the company plans to
establish a closed loop of finance industry included small loans, commercial factoring, guarantee business,
financial leasing, internet financing and other service items. As a link, the financial services platform will deeply
blend in physical platforms, regional channel platforms and regional retail terminal platforms business of Shuibei
jewelry industrial park, and become the important support for the company's future business.
(5) E-commerce business
After the steady development and expansion of regional trading platform, the company plans to cooperate with
e-commerce enterprises, merger and absorb the outstanding and mature e-commerce enterprises or establish the
industry funds incubation methods, make use of the advantages of e-commerce enterprises in e-commerce field
and business system, take advantage of the data and resources accumulated in physical platforms of Shuibei
industrial park, regional channel platforms and regional retail terminal platforms to complement the advantages of
virtual and physical platforms, build Tellus jewelry e-commerce platform, and complete the company’s initial
layout in e-commerce platform.
By the landing and implementation of above plans, the company will take financial service as a link to attract the
regional channels to cooperate with manufacturers of Shuibei physical platform, at the same time, the company
will develop the retail terminal business in virtue of the resources of channels, obtain the big data and develop
e-commerce business by physical platforms of Shuibei jewelry, regional channel platforms and regional retail
terminals, all section support each other and develop harmoniously, eventually form a closed loop and create
Tellus jewelry industry ecosystem, and make a wide range of market influence on the entire jewelry market.
(II) The company’s business plan in 2016
1. Complete the construction of key projects in the industrial park
Based on keeping the existing business steady , the company's focus of work in 2016 shall fully transfer to the
construction, investment and operations of Tellus Shuibei Jewelry Building (Phase I project), and timely advance
the development and construction of Tellus Gimeng Industrial Park No. 3 block (Phase II project).
2. Fully promote the transformation
In 2016, the company will fully promote the transformation and adopt multiple means to promote the landing and
implementation of business models. The company will focus on the strategic thinking of transforming to be a

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comprehensive service provider in jewelry industry, take full advantage of market resources and company
resources, make in-depth analysis, excavate the meeting point between the regional channel platforms and retail
terminal platform and the company's superior resources, refine the implementation program and path; seek for the
target companies that meet the company's strategies and own development characteristics through a variety of
channels, and make the company bigger and stronger in e-commerce, jewelry financial services and retail terminal
fields through a variety of ways including cooperation, mergers and acquisitions, and industry funds incubation, etc.
3. Continue to deepen the internal reform, improve the enterprise competitiveness
The company will strengthen internal control, control costs, reduce costs, and ensure the smooth completion of
annual management tasks; adhere to market-oriented operation, standardized operation, further marketize rental
prices, and improve property operating income; accelerate the marketization process of property companies, the
company will take the property management project of Tellus Shuibei Jewelry Building as an opportunity to
enhance the property management level and transform to high-end property management; strengthen the
supervision to shareholding enterprises, support the enterprises to improve management; explore the exit
approaches of automotive business in accordance with the smooth, orderly, and soon principle.
(III) Funds needed for the company’s future development
The company has completed the non-public offering of shares in March 2015, and the raised funds have been
credited into account. The company will regulate the expenditure of funds in strict accordance with the regulatory
measures of raised funds so as to maximize the utility of raised funds. At the same time, the company will furthest
use the temporarily idle funds, actively carry out the bank financing, and create the maximum benefits of funds.
The company will fully demonstrate the bank loans, capital market refinancing and other financing methods
according to its own operation and acquisition or investment demands, expand the financing channels, and raise the
funds; grasp the status of business environment and the variation trends of management environment of capital
structure, actively open up the new sources of capital, flexibly select the financing strategy selection, complete the
fund guarantee, and provide effective support for the company's future business development.
(IV) Risks may face
1. It is difficult for automobile to withdraw from the business
According to the company’s strategic positioning of withdrawing from automobile main business in 2014, the
company shall face personnel placement and related industry adjustment when implementing the plan for
smoothly and orderly withdrawing from automobile sales business, the withdrawing shall be rather difficult and
the progress will be a little later than the expectation.
The company will resolutely promote the plan to orderly withdraw from the car sales business, strengthen the
communication, enhance the coordination of all parties, and deal with the conflicts among all parties.
2. The development plan and completion plan of project construction may be affected by following force
majeure factors:
(1) Changes in regulations and policies may affect the development of the project;
(2) Procedures of certifications and licenses for development projects may have an impact on the development
progress of the project;
(3) The removing progress of project involving removing may have an impact on the progress of the project;
(4) Significant changes in the weather may have an impact on the progress of the project;
(5) Other unpredictable events may have an impact on the progress of the project.
3. The transformation road is arduous
The company faces uncertainties in the layout of jewelry market. From the external environment, the jewelry


                                                         29
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market has been rather sluggish in recent years, the overall industry shrinks, and the competition intensifies. From
the internal environment, after initially establishing the strategic planning assumptions, the company still faces
with the specific entry points, and the selection and exploration of implementation approaches.
Although the transformation road is difficult, the company will continue to promote the transformation of firm
belief.
X. Reception of research, communication and interview
1. In the report period, reception of research, communication and interview
√Applicable    □ Not applicable
               Time                       Way                         Type                Basic situation index of investigation

                                                                                        Panorama network has asked questions
                                                                                        about the reasons for revenue decrease
                                                                                        and profit increase in the mid-year
                                                                                        report, the company performance, the
                                                                                        progress of Tellus Shuibei Jewelry
2015-09-09                      Telephone Communication   Organization
                                                                                        Building, and the company's share price,
                                                                                        etc.; please see details on "Investor
                                                                                        relations activities log sheet" disclosed
                                                                                        on easy interactive platform of Shenzhen
                                                                                        Stock Exchange on September 9, 2015.

                                                                                        Shenzhen Special Zone Daily has asked
                                                                                        questions about the company's share
                                                                                        price, state-owned enterprise reform
                                                                                        policies, company performance, etc.;
2015-09-24                      Telephone Communication   organization
                                                                                        please see details on "Investor relations
                                                                                        activities log sheet" disclosed on easy
                                                                                        interactive platform of Shenzhen Stock
                                                                                        Exchange on September 24, 2015.

Reception (times)                                                                                                                  2

Number of hospitality                                                                                                              2

Number of individual reception                                                                                                     0

Number of other reception                                                                                                          0

Disclosed, released or let out major undisclosed
                                                 No disclosed, released or let out major undisclosed information
information




                                                               30
                                                                                深圳市特力(集团)股份有限公司 2015 年年度报告全文



                                       Section V. Iimportant Events

I. Profit distribution plan of common stock and capitalizing of common reserves plan

Formulation, Implementation and Adjustment of common stock Profit Distribution Policy Especially Cash Dividend policy during
the Reporting Period
√Applicable □ Not applicable
Profit distribution plan (pre-plan) of common stock and capitalizing of common reserves plan (pre-plan) in latest three years
(including the reporting period)

The accumulated retained profit of parent company ended as 2013, 2014 counted as -10,976.46 million Yuan,
-10,967.37 million Yuan respectively, has no profit distribution and cash bonus. Consolidated statements of the
company's 2015 annual net profit attributable to shareholders of the parent company is 4,276.88 million Yuan, the
consolidated statement of the non distribution of profits is 374.23 million Yuan, the accumulated retained profit of
parent company is -9,138.89 million Yuan. The Company has no profit distribution and cash bonus in 2015 due to
the negative value of the accumulated retained profit of parent company.


Cash dividend of common stock in latest three years (including the reporting period)
                                                                                                                                  In RMB

                                                  Net profit             Ratio in net profit
                                                attributable to            attributable to
                                                common stock              common stock
   Year for bonus        Amount for cash        shareholders of           shareholders of       Amount for cash      Proportion for cash
           shares      bonus (tax included)   listed company in           listed company       bonus by other ways bonus by other ways
                                                 consolidation             contained in
                                              statement for bonus          consolidation
                                                     year                    statement

2015                                   0.00        42,768,789.52                       0.00%                  0.00                0.00%

2014                                   0.00        10,345,217.67                       0.00%                  0.00                0.00%

2013                                   0.00          7,185,944.01                      0.00%                  0.00                0.00%

The Company gains profits in reporting period and the retained profit of common stock shareholders provided by parent company is
positive but no plan of cash dividend proposed of common stock
□ Applicable √ Not applicable


II. 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




                                                                    31
                                                                              深圳市特力(集团)股份有限公司 2015 年年度报告全文


III. Implementation of commitment

1. Commitments that the company, shareholders, actual controller, offeror, directors, supervisors, senior
management or other related parties have fulfilled during the reporting period and have not yet fulfilled by
the end of reporting period
√Applicable   □ Not applicable

                                      Type of                                                        Commitmen Commitm Implementa
 Commitments           Promise                             Content of commitments
                                   commitments                                                         t date   ent term  tion

                                                 (I) Commitments during the work of
                                                 Share Merger Reform of the Company:
                                                 1. Commitments on Lock-up period
                                                 (1) In accordance with the Measures for
                                                 the Administration of the Share Merger
                                                 Reform of Listed Companies, SDG
                                                 would abide by the various laws,
                                                 regulations and rules, and perform its
                                                 statutory commitment duty.
                                                 (2) Apart from the above-mentioned
                                                 statutory commitment, SDG also made
                                                 the following special commitment: with
                                                 36 months since the day the reform plan
                                                 starts to take effect, SDG would not list
                                                 at Shenzhen Stock Exchange and sell
                                                 the shares of Tellus it held (except for
                                                 the     shares        used   to   promote    the
Commitments                        Commitments administration level of Tellus).                                  Implementi
for share merger SDG               for      share                                           2005-12-25 Long-term
                                                  (3) The administration level would                             ng
reform                             merger reform
                                                  abide by the laws, regulations and rules,
                                                 and perform its statutory commitment
                                                 duty.
                                                 (4) SDG made the commitment: “The
                                                 Promiser hereby promises that, if the
                                                 Promiser failed to fulfill its commitment
                                                 or not fully fulfill its commitment, it
                                                 would compensate other shareholders
                                                 for their losses suffered thereafter”.
                                                 (5) SDG declared: “The Promiser would
                                                 dutifully fulfill its commitments and
                                                 shoulder              corresponding         legal
                                                 responsibilities. The Promiser would
                                                 transfer the shares held by it only if the
                                                 assignee agree and have the ability to
                                                 shoulder               the         commitment
                                                 responsibility.”


                                                                  32
                                            深圳市特力(集团)股份有限公司 2015 年年度报告全文


                   2. Special commitment concerning the
                   incentive mechanism
                   In order to effectively boost the core
                   management       level     and     business
                   backbones for long, SDG would take
                   out its shares, not exceeding 10% in
                   total number after the Share Merger
                   Reform, and apply them to the boost of
                   the administration level. The shares
                   would be sold to the Company’s
                   administrative level over 3 years, with
                   the selling price being the net asset
                   value per share audited during the
                   period nearest to the implementation.
                   Before the implementation of the
                   promoting plan by share selling each
                   year, the administration level must
                   prepay     the     Company         a     risk
                   responsibility fund, i.e. 20% of the
                   planned selling price; Should the work
                   of the performance examination set by
                   the Board failed to be finished, the paid
                   risk responsibility fund would not be
                   refunded and shall be owned by the
                   Company. Detailed rules concerning the
                   limitations on the administration level,
                   such as the subscription conditions and
                   risk responsibility fund, and boost plans
                   would be set by the Board and
                   submitted to relevant departments for
                   approval. The implementation of the
                   shares    for    promoting       would    be
                   conducted strictly according to relevant
                   laws and regulations, and the circulation
                   conditions of these shares would be in
                   conformity with relevant regulations set
                   by the Shenzhen Stock Exchange.

                   3. Relevant expenses of this Share
                   Merger Reform of Tellus would be paid
                   by SDG.

      Commitments SDG, the controlling shareholder of the
      for
                   Company, made a special commitment                          Implementi
SDG   Share Merger                                        2014-06-26 2016-6-30
                   of incentive mechanism in Share                             ng
      Reform
                   Merger Reform. After that SASAC and


                               33
                                                                               深圳市特力(集团)股份有限公司 2015 年年度报告全文


                                                 Ministry of Finance jointly issued a
                                                 “Trial Approach of Equity Incentive for
                                                 State-Owned Listed Companies”, and
                                                 CSRC          issued          the        “Incentive
                                                 Management         on    Shares of Listed
                                                 Companies (Trial)”, after comparison,
                                                 the above mentioned commitments
                                                 made by SDG are out of the relevant
                                                 regulations and requirement, relevant
                                                 commitments are not implemented as a
                                                 result. On 26 June 2014, the Company
                                                 actively communicating with SDG, and
                                                 promised that on the premise of
                                                 subjecting to applicable laws and
                                                 regulations             and             supervision
                                                 requirements, continues to support the
                                                 Company         promote             a     long-term
                                                 incentive plan as soon as possible in
                                                 stead of the commitments made in share
                                                 merger     reform,       and        complete    the
                                                 long-term incentive plan before 30 June
                                                 2016. At that time, the long-term
                                                 incentive plan shall be implemented
                                                 after submit for deliberation in General
                                                 Meeting.

Commitments in
report           of
acquisition      or
equity change

Commitments in
assets
reorganization

                      Shenzhen Capital           1. The commitments of the relevant

                      Fortune                    bodies on the timely arrival of funds of

                      Investment                 share subscription: On August 22, 2014,

                      Management Co.,            about the subscription to Test Rite
Commitments
                      Ltd.; Shenzhen             Group’s private placement of shares,
make in initial                                                                                           2015-3-27
                      Jiahe Investment   Other   Jewelry Industry Funds, SZ Capital, 2014-08-22                       Completed
public   offering
                      Management                 Capital    Fortune,       Jiahe         Investment,
or re-financing
                      Enterprise;                Wanbang Investment, and Test Rite

                      Shenzhen Wanban            Group have respectively issued the

                      Investment                 “commitment         letter”,          and    made

                      Management Co.,            commitments to the timely arrival of



                                                               34
                                           深圳市特力(集团)股份有限公司 2015 年年度报告全文


Ltd.; Shenzhen    funds of share subscription. The specific

Capital           contents of Jewelry Industry Funds’

Investment Co.,   commitment letter are that after this

Ltd.; Shenzhen    non-public offering of shares being

Zhiyuan Fuhai     approved by the China Securities

Jewlry Industry   Regulatory          Commission,         the

Investment        subscription funds of Test Rite Group’s

Enterprise;       non-public offering of shares have all

ShenZhen Tellus   been in place when reporting the issuing

Holding Co.,Ltd   scheme, and have been transferred to
                  the special account which was opened
                  by the sponsor institution (principal
                  underwriter) for this non-public offering
                  of shares at one time in accordance with
                  the requirements of the payment notice
                  issued by Test Rite Group and the
                  sponsor         institution       (principal
                  underwriter). The specific contents of
                  Test Rite Group’s commitment letter are
                  that after this non-public offering of
                  shares being approved by the China
                  Securities Regulatory Commission, the
                  Company should supervise and urge
                  Capital Fortune (limited partnership) to
                  put all subscription funds in place when
                  reporting the issuing scheme, and
                  transfer the subscription funds to the
                  special account which was opened by
                  the   sponsor       institution   (principal
                  underwriter) for this non-public offering
                  of shares at one time in accordance with
                  the requirements of the payment notice
                  issued by the Company and the sponsor
                  institution (principal underwriter).

                  2. The commitments to no undisclosed
                  related protocols of related bodies: On
                  August 22, 2014, Jewelry Industry
                  Funds, Jiahe Investment, and Wanbang
                  Investment    has     respectively     made
                  commitments that no other undisclosed
                  protocols exist in Test Rite Group and
                  its controlling shareholder SDG, the
                  actual controller Shenzhen SASAC and
                  the related parties except for the



                               35
                                                                                     深圳市特力(集团)股份有限公司 2015 年年度报告全文


                                                     publicly disclosed protocols.

                                                     The commitments to the fulfillment of
                                                     information        disclosure          about      the
                                                     company business development are as
                                                     follows: except for the information has
                                                     been disclosed publicly, the Company
                                                     has not had the disclosed information
                   ShenZhen Tellus                   about asset acquisition and business                                            Implementi
                                     Other                                                                    2014-10-17 Long-term
                   Holding Co.,Ltd                   development that has not been disclosed                                         ng
                                                     within one year. In the future, the
                                                     company shall timely, accurately and
                                                     adequately       disclose            the      relevant
                                                     information according to the progress of
                                                     new      business         and         the      related
                                                     requirements.

Equity incentive
commitment

                                                     In    order to          avoid     the horizontal
                                                     competition, the company’s controlling
                                                     shareholder, Shenzhen SDG Co., Ltd.,
                                                     has issued the “commitment letter about
                                                     the      avoidance              of          horizontal
                                                     competition” on May 26, 2014. The full
                                                     commitment letter is as follows: 1. The
                                     Horizontal                                                                                      Implementi
                   SDG                               Company        and         other           enterprises 2014-05-26 Long-term
                                     Competition                                                                                     ng
                                                     controlled by the Company except Test
                                                     Rite Group haven’t occupied in any
                                                     business      that       could        substantially

Other                                                compete with the main businesses of
commitments                                          Test Rite Group, and have no horizontal
for medium and
small                                                competition relationship with Test Rite
shareholders                                         Group.

                                                     The accumulative rate of deviation
                                                     value of the share price of the
                                                     Company's stock Tellus A (stock code:
                                                     000025) has reached 20% in three
                                     Not
                                                     consecutive trading days (March 19,
                   ShenZhen Tellus   implement
                                                     2015, March 20, 2015, March 23, 2015-03-23 2015-6-23 Completed
                   Holding Co.,Ltd   assets
                                                     2015).     According        to       the      relevant
                                     restructuring
                                                     provisions         of      Shenzhen             Stock
                                                     Exchange, it belongs to abnormal
                                                     fluctuations of shares. Verified by the
                                                     Company, in addition to the disclosed


                                                                   36
                                                         深圳市特力(集团)股份有限公司 2015 年年度报告全文


                                 non-public offering of shares (Please
                                 refer to the latest details on “Notice on
                                 non-public offering of shares obtaining
                                 the   approval     of   China     Securities
                                 Regulatory Commission” No. 2015-005
                                 published on "Securities Times", "Hong
                                 Kong Commercial Daily", and Juchao
                                 Website by the Company on February 3,
                                 2015, the Company, the controlling
                                 shareholders      and   actual    controller
                                 currently do not exist the major assets
                                 restructuring, acquisition, issuance of
                                 shares and other issues have significant
                                 impacts on the Company, and make
                                 commitments not to plan and prepare
                                 the      major     assets     restructuring,
                                 acquisition, issuance of shares in the
                                 next three months.

                                 From 2014 to 2016, the company’s
                                 profits will first be used to cover the
                                 losses of previous years; after making
                                 up for losses of previous years, in the
                                 premise that the company’s profits and
                                 cash flow can meet the company's
                                 normal     operations       and   long-term
                                 development, reward shareholders, the
                                 company will implement positive profit
                                 distribution approaches to reward the
                                 shareholders, details are as follows: 1.
                                 The company’s profit distribution can
ShenZhen Tellus   Commitments adopt cash, stock or the combination of                        2016-12-3 Implementi
                                                                                2014-06-03
Holding Co.,Ltd   for dividend   cash and stock or other methods                             1         ng
                                 permitted by law. The foreign currency
                                 conversion rates of domestically listed
                                 foreign shares dividend are calculated
                                 according to the standard price of HK
                                 dollar against RMB announced by
                                 People's Bank of China on the first
                                 working day after the resolution date of
                                 the shareholders' meeting. The company
                                 prefers to adopt the cash dividends to
                                 distribute profits. In order to maintain
                                 the   adaptability      between      capital
                                 expansion and performance growth, in


                                              37
                              深圳市特力(集团)股份有限公司 2015 年年度报告全文


the premise of ensuring the full cash
dividend        distributions            and    the
rationality of equity scale and equity
structure, the company can adopt the
stock dividend methods to distribute
profits. 2. According to the "Company
Law" and other relevant laws and the
provisions of the company’s "Articles of
Association",         following          conditions
should be satisfied when the company
implements cash dividends: (1) the
company's annual distributable profits
(i.e. the after-tax profits after making up
for      losses            and          withdrawing
accumulation funds) are positive value,
the implementation of cash dividends
will     not      affect          the    company's
subsequent continuing operations; (2)
the audit institution issues the standard
audit report with clean opinion to the
company's annual financial report; (3)
the    company         has         no    significant
investment plans or significant cash
outlay      (except          for        fund-raising
projects). Major investment plans or
significant cash outlay refer to: the
accumulated expenditures the company
plans to used for investments abroad,
acquisition of assets, or purchase of
equipments within the next 12 months
reach or exceed 30% of the net assets
audited in the latest period. 3. In the
premise of meeting the conditions of
cash     dividends          and     ensuring    the
company’s       normal           operation     and
long-term development, the company
makes cash dividends once a year in
principle, the company’s board of
directors can propose the company to
make      interim       cash        dividends     in
accordance           with        the     company's
profitability        and      capital       demand
conditions. The proportion of cash
dividends       in    profits       available    for


                38
                             深圳市特力(集团)股份有限公司 2015 年年度报告全文


distribution and in distribution of profits
should meet the following requirements:
(1) in principle, the company’s profits
distributed in cash every year should not
be less than 10% of profit available for
distribution realized in the same year,
and        the       company’s             profits
accumulatively distributed in cash in the
last three years should not be less than
30% of the annual average profit
available for distribution realized in the
last three years. (2) if the company’s
development stage belongs to mature
stage and there is no significant capital
expenditure         arrangement,             when
distributing      profits,    the    minimum
proportion of cash dividends in this
profit distribution should be 80%; (3) if
the   company’s       development           stage
belongs to mature stage and there are
significant         capital         expenditure
arrangements, when distributing profits,
the   minimum        proportion        of     cash
dividends in this profit distribution
should be 40%; (4) if the company’s
development stage belongs to growth
stage and there are significant capital
expenditure         arrangements,            when
distributing      profits,    the    minimum
proportion of cash dividends in this
profit distribution should be 20%; when
the company's development stage is not
easy to be differed but there are
significant         capital         expenditure
arrangements, please handle according
to the preceding provisions. 4. On the
condition of meeting the cash dividend
distribution, if the company's operation
revenue and net profit grow fast, and the
board of directors considers that the
company’s equity scale and equity
structure are reasonable, the company
can   propose        and      implement        the
dividend       distribution    plans        except


               39
                                                                            深圳市特力(集团)股份有限公司 2015 年年度报告全文


                                                     proposing the cash dividend distribution
                                                     plans. When allocating stock dividend
                                                     every time, the stock dividend per 10
                                                     shares should be no less than 1 share.
                                                     Stock allocation can be implemented
                                                     individually or in combination of cash
                                                     dividends. When confirming the exact
                                                     amount of profit distribution by stock,
                                                     the company should fully consider if the
                                                     general capital after profit distribution
                                                     by stock matches with the company’s
                                                     current operation scale and profit
                                                     growth rate and consider the impact on
                                                     future financing so as to make sure the
                                                     allocation   plans   meet    the   overall
                                                     interests of all shareholders.

Completed       on
                     Y
time(Y/N)


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

IV. 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.

V. Explanation from Board of Directors, Supervisory Committee and Independent Directors
(if applicable) for “Qualified Opinion” that issued by CPA
□ Applicable √ Not applicable

VI. Particulars about the changes in aspect of accounting policy, estimates and calculation
method compared with the financial report of last year
□ Applicable    √ Not applicable
No particulars about the changes in aspect of accounting policy, estimates or calculation method in Period.


VII. Major accounting errors within reporting period that needs retrospective restatement

□ Applicable    √ Not applicable
No major accounting errors within reporting period that needs retrospective restatement for the Company in the period.




                                                                  40
                                                                            深圳市特力(集团)股份有限公司 2015 年年度报告全文


VIII. Compare with last year’s financial report; explain changes in consolidation statement’s
scope

□ Applicable     √ Not applicable
No changes in consolidation statement’s scope of the Company in the period.


IX. Appointment and non-reappointment (dismissal) of CPA

Accounting firm appointed

Name of domestic accounting firm                       Ruihua Certified Public Accountants (LLP)

Remuneration for domestic accounting firm (in 10
                                                       55
thousand Yuan)

Continuous life of auditing service for domestic
                                                       2
accounting firm

Name of domestic CPA                                   Yuan Longping, Qin Changming
Re-appointed accounting firms in this period

□Yes √No
Appointment of internal control auditing accounting firm, financial consultant or sponsor

√Applicable □ Not applicable

In reporting period, Ruihua Certified Public Accountants (LLP) was engaged by the Company as audit institute
for internal control, remuneration amounting as RMB 240,000.
In 2014, The Company engaged Huaxi Securities Co., Ltd. as the sponsor due to private placement in the Period,
sponsor fee amounting as 2 million Yuan.

X. Particular about suspended and delisting after annual report disclosed

□ Applicable √ Not applicable


XI. Bankruptcy reorganization

□ Applicable     √ Not applicable
No bankruptcy reorganization for the Company in reporting period


XII. Significant lawsuits and arbitrations of the Company

□Applicable        √Not applicable
No significant lawsuits and arbitrations occurred in the reporting period


XIII. Penalty and rectification

□ Applicable √ Not applicable
No penalty and rectification for the Company in reporting period.



                                                                    41
                                                                                              深圳市特力(集团)股份有限公司 2015 年年度报告全文


XIV. Integrity of the company and its controlling shareholders and actual controllers

□ Applicable √ Not applicable


XV. Implementation of the company’s stock incentive plan, employee stock ownership plan or
other employee incentives

□ Applicable √ Not applicable
During the reporting period, the company has no stock incentive plan, employee stock ownership plan or other employee incentives
that have not been implemented.

XVI. Major related transaction
1. Related transaction with routine operation concerned
√Applicable       □ Not applicable

                                                                                                Approv
                                                                                                                       Settlem
                                               Pricing                Transact                  ed
                                   Content                                         Proporti                            ent
                       Type                    Principl               ion                       Transact Whethe
                                   of                                              on in                               method
                       of the                   e of                  amount                    ion         r exceed
                                   the                     Transact                same                                of              Similar              Disclos
Related     Relation related-                  the                    (RMB                      quota       the                                  Disclos
                                   relate                  ion                     kind                                the             market               ure
party       ship       party                   related-               Ten                       (RMB        approve                              ure date
                                   d-party                 price                   of                                  related- price                       index
                       transacti               party                  Thousa                    Ten         d
                                   transacti                                       transacti                           party
                       on                      transacti              nd                        Thousa quota
                                   on                                              ons                                 transacti
                                               on                     Yuan)                     nd
                                                                                                                       on
                                                                                                Yuan))

            Director Related                                                                                           Accordi
Shenzhen
            of the     transacti                                                                                       ng         to
Zung Fu                                        Referen
            compan on with                                                                                             the
Tellus                             house       ce
            y's        routine                             530              530         4.93%         530 no           contract 530
Auto                               renting; market
            board of concern                                                                                           or
Service                                        pricing
            director ed                                                                                                agreeme
Co., Ltd.
            s                                                                                                          nt

Total                                                --          --         530          --           530         --         --           --        --            --

Details of large amount of sales
                                               no
returns

As for the prediction on the total
amount of routine related-party
transactions to be occurred in the
                                               no
reporting period by relevant types,
the actual performance in the
reporting period (if any)




                                                                              42
                                                                                           深圳市特力(集团)股份有限公司 2015 年年度报告全文


Reason for significant difference
between the transaction price and            no
the market price

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 the Company had non-operating contact of related credit and debt
√ Yes   □ No
Claim receivable from related party:

                                                Whether                           Current
                                                              Balance at                        Current                         Current
                                                    has                           newly                                                        Balance at
                                                              period-begi                       recovery                        interest
  Related        Relationshi                 non-busines                          added                                                       period-end
                                 Causes                            n (10                          (10         Interest rate       (10
    party            p                          s capital                            (10                                                      (10 thousand
                                                               thousand                         thousand                       thousand
                                               occupying                       thousand                                                          Yuan)
                                                                   Yuan)                         Yuan)                           Yuan)
                                                  or not                          Yuan)

Influence on operation
results and financial
                               Not applicable
status from related credit
and debts

Debts payable to related party:

                                                      Balance at           Current          Current                           Current         Balance at
                                                     period-begin newly added               recovery                          interest        period-end
 Related party Relationship            Causes                                                              Interest rate
                                                     (10 thousand (10 thousand (10 thousand                                (10 thousand (10 thousand
                                                           Yuan)           Yuan)             Yuan)                            Yuan)             Yuan)

Shenzhen           Parent
                                   loans                      7,300                              1,000                               361            6,300
SDG Co., Ltd. company

                                   Current
Shenzhen           Parent
                                   account and                5,978                481           1,665                                   59         4,794
SDG Co., Ltd. company
                                   loans interest

Shenzhen           Parent          Huari Co.,
                                                              1,892                                    5                                 61         1,887
SDG Co., Ltd. company              Ltd.loans

Influence on operation
results and financial status       The increase in interest expense caused the total profit decreased 4.81 million yuan.
from related credit and debts




                                                                             43
                                                                           深圳市特力(集团)股份有限公司 2015 年年度报告全文


5. Other related transactions

□ Applicable   √ Not applicable
The company had no other significant related transactions in reporting period.


XVII. Significant contract and implementations

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
□ Applicable   √ Not applicable
No leasing for the Company in reporting period
2. Major guarantees
√Applicable □ Not applicable
(1) Guarantees
                                                                                                                   In 10 thousand Yuan

                  Particulars about the external guarantee of the Company (Barring the guarantee for subsidiaries)

                                                                                                                              Guarante
                     Related
                                                Actual date of                                                                    e for
                    Announce                                           Actual                                     Implemen
Name of the Company                  Guarantee happening (Date                     Guarantee       Guarantee
                       ment                                           guarantee                                                related
    guaranteed                         limit      of signing                         type            term         ted (Y/N)
                    disclosure                                          limit
                                                 agreement)                                                                       party
                       date
                                                                                                                                  (Y/N)

                                                                                                  To the expire
Shenzhen Zung Fu
                                                                                                  date of joint
Tellus Auto Service     2014-09-30         3,500 2007-04-17                 3,500 Pledged                         N           Y
                                                                                                  venture
Co., Ltd.
                                                                                                  contract
                                                                   Total    actual    occurred
Total approving external guarantee
                                                                 0 external guarantee in report                                    3,500
in report period (A1)
                                                                   period (A2)
                                                                   Total actual balance of
Total approved external guarantee
                                                             3,500 external guarantee at the                                       3,500
at the end of report period ( A3)
                                                                   end of report period (A4)
                                          Guarantee of the Company and the subsidiaries

                                                                                                                              Guarante
                     Related
                                                Actual date of                                                                    e for
                    Announce                                           Actual                                     Implemen
Name of the Company                  Guarantee happening (Date                     Guarantee       Guarantee
                       ment                                           guarantee                                                related
    guaranteed                         limit      of signing                         type            term         ted (Y/N)
                    disclosure                                          limit
                                                 agreement)                                                                       party
                       date
                                                                                                                                  (Y/N)


                                                                 44
                                                                          深圳市特力(集团)股份有限公司 2015 年年度报告全文


Shenzhen Zhongtian                                                                Joint liability 2014-6-24 To
                        2014-05-07      30,000 2014-06-24                30,000                                  N           Y
Industrial Co., Ltd.                                                              guaranty        2024-6-23

Shenzhen Zhongtian                                                                General
                        2014-03-17       4,140                            4,140                   To 2016-6-25 N             Y
Industrial Co., Ltd.                                                              guarantee

Shenzhen Auto
                                                                                  General
Industry and Trade      2014-08-20       1,000 2014-09-16                 1,000                   2015-9-16      Y           Y
                                                                                  guarantee
Corporation
                                                                 Total amount of actual
Total amount of approving
                                                                 occurred guarantee for
guarantee for subsidiaries in report                           0                                                                  35,140
                                                                 subsidiaries in report period
period (B1)
                                                                 (B2)
                                                                 Total balance of actual
Total    amount      of   approved
                                                                 guarantee for subsidiaries at
guarantee for subsidiaries at the                         35,140                                                                  34,140
                                                                 the end of reporting period
end of reporting period (B3)
                                                                 (B4)
                                        Guarantee of the subsidiaries and the subsidiaries

                                                                                                                             Guarante
                     Related
                                          Actual date of                                                                         e for
                    Announce                                          Actual                                     Implemen
Name of the Company            Guarantee happening (Date                           Guarantee       Guarantee
                       ment                                          guarantee                                                related
    guaranteed                   limit      of signing                               type            term        ted (Y/N)
                    disclosure                                         limit
                                           agreement)                                                                            party
                       date
                                                                                                                                 (Y/N)

                                                                                                  Two years
                                                                                                  since the
                                                                                                  expired date
Shenzhen Huari                                                                                    when debtor
Toyota Auto-Sales       2014-03-17       4,900 2014-06-26                 4,900 Pledged           of the main    Y           Y
Service Co., Ltd.                                                                                 contract
                                                                                                  completed
                                                                                                  debt
                                                                                                  maturities

Shenzhen Huari
Toyota Auto-Sales       2014-03-17       1,800 2014-10-13                 1,800 Pledged           2015-10-13     Y           Y
Service Co., Ltd.
                                                                  Total amount of actual
Total amount of approving
                                                                  occurred guarantee for
guarantee for subsidiaries in report                            0                                                                  6,700
                                                                  subsidiaries in report period
period (C1)
                                                                  (C2)
                                                                  Total balance of actual
Total    amount      of   approved
                                                                  guarantee for subsidiaries at
guarantee for subsidiaries at the                           6,700                                                                        0
                                                                  the end of reporting period
end of reporting period (C3)
                                                                  (C4)
                       Total amount of guarantee of the Company( total of three abovementioned guarantee)
Total amount of approving                                         Total amount of actual
guarantee in report period                                      0 occurred guarantee in report                                    45,340
(A1+B1+C1)                                                        period (A2+B2+C2)
Total amount of approved                                         Total balance of actual
guarantee at the end of report                            45,340 guarantee at the end of                                          37,640
period (A3+B3+C3)                                                report period (A4+B4+C4)



                                                                45
                                                                              深圳市特力(集团)股份有限公司 2015 年年度报告全文


The proportion of the total amount of actually guarantee in the net
                                                                                                                                   43.36%
assets of the Company (that is A4+ B4+C4)

Including:
Amount of guarantee for shareholders, actual controller and its
                                                                                                                                            0
related parties(D)
The debts guarantee amount provided for the guaranteed parties
                                                                                                                                            0
whose assets-liability ratio exceed 70% directly or indirectly(E)
Proportion of total amount of guarantee in net assets of the
                                                                                                                                            0
Company exceed 50%(F)
Total amount of the aforesaid three guarantees(D+E+F)                                                                                       0

Explanations on possibly bearing joint and several liquidating
                                                                      N/A
responsibilities for undue guarantees (if applicable)

Explanations on external guarantee against regulated procedures
                                                                      N/A
(if applicable)
Explanation on guarantee with composite way


(2)Guarantee outside against the regulation


□Applicable √Not applicable
No guarantee outside against the regulation in Period.


3. Entrust others to cash asset management

(1) Trust financing

□Applicable √Not applicable
                                                                                                                        In 10 thousand Yuan

                                                                                               Amount
                                                                                              of reserve                           Gains/l
                                                                                  Principal      for                               osses
             Whether                                                                                                      Actual
                                      Trust                            Criteria   actually    devaluati                            actuall
              related                                                                                       Anticipat gains/loss
  Name                    Type      financing Start date End date for fixing collected          on of                                y
             trade or                                                                                       ed income      es in
                                     amount                             reward     in the     withdrawi                            collect
                  not                                                                                                     period
                                                                                   Period      ng (if                               ed in
                                                                                              applicable                           period
                                                                                                  )

                                                                      Repayme
Shenzhen                                                              nt of
Tianan                                                                principal
Branch of               Floating                 2015-04- 2015-10- and
             No                          6,000                                        6,000             0      151.89      151.89 151.89
Industrial              proceeds                 30       15          interest
Bank Co.,                                                             payment
Ltd.                                                                  at
                                                                      maturity



                                                                 46
                                                                   深圳市特力(集团)股份有限公司 2015 年年度报告全文


Shenzhen                                                   Repayme
Branch of                                                  nt of
China                                                      principal
CITIC             Floating             2015-04- 2015-07- and
             No                3,000                                      3,000        0     32.91    32.91 32.91
Bank              proceeds             30       30         interest
Corporati                                                  payment
on                                                         at
Limited                                                    maturity

Shenzhen
Branch of
                                                           Contract
China             Structured           2015-04- 2015-07-
             No                4,000                       agreemen       4,000        0      40.5     40.5 40.50
Everbrigh         deposit              30       30
                                                           t
t Bank
Co., LTd.

Shenzhen                                                   Repayme
Branch of                                                  nt of
China                                                      principal
CITIC             Floating             2015-05- 2015-08- and
             No                4,000                                      4,000        0     43.88    43.88 43.88
Bank              proceeds             07       06         interest
Corporati                                                  payment
on                                                         at
Limited                                                    maturity

                                                           Repayme
Shenzhen                                                   nt of
Tianan                                                     principal
Branch of         Floating             2015-05- 2015-05- and
             No                5,000                                      5,000        0       2.4      2.4 2.40
Industrial        proceeds             07       12         interest
Bank Co.,                                                  payment
Ltd.                                                       at
                                                           maturity

                                                           Repayme
Shenzhen                                                   nt of
Tianan                                                     principal
Branch of         Floating             2015-05- 2015-08- and
             No                4,000                                      4,000        0      9.06     9.06 9.06
Industrial        proceeds             08       26         interest
Bank Co.,                                                  payment
Ltd.                                                       at
                                                           maturity

Shuibei
Jewellery                                                  Contract
                  Deposit              2015-05- 2015-07-
Branch of No                   3,000                       agreemen       3,000        0      6.21     6.21 6.21
                  products             08       29
China                                                      t
Construct


                                                      47
                                                                 深圳市特力(集团)股份有限公司 2015 年年度报告全文


ion Bank
Co., Ltd.

                                                         Repayme
Shenzhen                                                 nt of
Tianan                                                   principal
Branch of         Floating           2015-05- 2015-10- and
             No              5,000                                      5,000        0    126.58   126.58 126.58
Industrial        proceeds           14       29         interest
Bank Co.,                                                payment
Ltd.                                                     at
                                                         maturity

                                                         Repayme
Shenzhen                                                 nt of
Tianan                                                   principal
Branch of         Floating           2015-05- 2015-10- and
             No              3,000                                      3,000        0     75.95    75.95 75.95
Industrial        proceeds           14       29         interest
Bank Co.,                                                payment
Ltd.                                                     at
                                                         maturity

Shenzhen                                                 Repayme
Gold                                                     nt of
Jewelry                                                  principal
Branch of         Floating           2015-05- 2015-06- and
             No              5,000                                      5,000        0     21.95    21.95 21.95
China             proceeds           20       23         interest
Minsheng                                                 payment
Bank Co.,                                                at
Ltd.                                                     maturity

                                                         Repayme
Shenzhen                                                 nt of
Tianan                                                   principal
Branch of         Floating           2015-07- 2015-09- and
             No              2,000                                      2,000        0     15.97    15.97 15.97
Industrial        proceeds           03       28         interest
Bank Co.,                                                payment
Ltd.                                                     at
                                                         maturity

                                                         Repayme
Shenzhen                                                 nt of
Tianan                                                   principal
Branch of         Floating           2015-07- 2015-10- and
             No              1,500                                      1,500        0     12.53    12.53 12.53
Industrial        proceeds           24       23         interest
Bank Co.,                                                payment
Ltd.                                                     at
                                                         maturity



                                                    48
                                                                     深圳市特力(集团)股份有限公司 2015 年年度报告全文


                                                             Repayme
Shenzhen                                                     nt of
Tianan                                           Current     principal
Branch of         Floating              2015-07- financial and
             No                 4,000                                       2,000        0     31.94    31.94 31.94
Industrial        proceeds              31       managem interest
Bank Co.,                                        ent         payment
Ltd.                                                         at
                                                             maturity

Shenzhen                                                     Repayme
Branch of                                                    nt of
China                                                        principal
CITIC             Floating              2015-08- 2015-11-0 and
             No                 3,000                                       3,000        0     24.78    24.78 24.78
Bank              proceeds              07       5           interest
Corporati                                                    payment
on                                                           at
Limited                                                      maturity

                                                             Repayme
                                                             nt of
Shenzhen
                                                             principal
Branch of
                  Floating              2015-08- 2015-11-1 and
Bank of      No                 1,000                                       1,000        0     10.29    10.29 10.29
                  proceeds              07       3           interest
Jiangsu
                                                             payment
Co., Ltd
                                                             at
                                                             maturity

Shenzhen
Huali
                  Structured                                 Contract
Branch of                               2015-08- 2015-11-1
             No   deposit       3,000                        agreemen       3,000        0     26.25    26.25 26.25
Everbrigh                               10       0
                                                             t
t Bank
Co., Ltd.

                                                             Repayme
Shenzhen                                                     nt of
Huali             Guarantee                                  principal
Branch of         d principal           2015-10- 2016-01- and
             No                 3,000                                           0        0      26.3    21.82 0
Everbrigh         and                   16       16          interest
t Bank            income                                     payment
Co., Ltd.                                                    at
                                                             maturity

Shenzhen                                                     Repayme
Tianan                                                       nt of
                  Floating              2015-10- 2016-03-
Branch of No                    3,000                        principal          0        0     56.61       00
                  proceeds              15       31
Industrial                                                   and
Bank Co.,                                                    interest


                                                       49
                                                                     深圳市特力(集团)股份有限公司 2015 年年度报告全文


Ltd.                                                         payment
                                                             at
                                                             maturity

                                                             Repayme
                                                             nt of
Shenzhen
                                                             principal
Branch of
                  Floating              2015-10- 2015-11-2 and
Industrial No                   1,500                                       1,500        0      3.82     3.82 3.82
                  proceeds              26       5           interest
Bank Co.,
                                                             payment
Ltd.
                                                             at
                                                             maturity

                                                             Repayme
Shenzhen                                                     nt of
Tianan                                                       principal
Branch of         Floating              2015-10- 2016-04- and
             No                 5,000                                           0        0        0        00
Industrial        proceeds              29       14          interest
Bank Co.,                                                    payment
Ltd.                                                         at
                                                             maturity

                                                             Repayme
Shenzhen
                                                             nt of
Branch
                                                             principal
Sales
                  Floating              2015-11-0 2015-12- and
Departme No                     3,000                                       3,000        0      11.4     11.4 11.40
                  proceeds              4        16          interest
nt     of
                                                             payment
Jiangsu
                                                             at
Bank
                                                             maturity

Shenzhen                                                     Repayme
Branch of                                                    nt of
China                                                        principal
CITIC             Floating              2015-11-2 2016-02- and
             No                 3,000                                           0        0     24.21       00
Bank              proceeds              3        16          interest
Corporati                                                    payment
on                                                           at
Limited                                                      maturity

Shenzhen
Huali             Guarantee
                                                             Contract
Branch of         d principal           2015-11-1 2016-02-
             No                 3,000                        agreemen           0        0     24.03    13.07 0
Everbrigh         and                   3        13
                                                             t
t Bank            income
Co., Ltd.

Shenzhen No       Floating      1,000 2015-11-1 Current      Repayme            0        0        0        00



                                                        50
                                                                                        深圳市特力(集团)股份有限公司 2015 年年度报告全文


Branch                  proceeds                  8          financial nt of
Sales                                                        managem principal
Departme                                                     ent             and
nt   of                                                                      interest
Jiangsu                                                                      payment
Bank                                                                         at
                                                                             maturity

                                                                             Repayme
Shenzhen
                                                                             nt of
Branch
                                                             Current         principal
Sales
                        Floating                  2015-12- financial and
Departme No                               3,000                                                    0        0        0        00
                        proceeds                  18         managem interest
nt   of
                                                             ent             payment
Jiangsu
                                                                             at
Bank
                                                                             maturity

Total                                    82,000        --          --              --         59,000        0    779.46    683.2   --

Capital resource                     Idle fund-raising

Principal uncollected for overdue
                                                                                                                                        0
and accumulated earnings

Lawsuit involved (if applicable) N/A

Disclosure date for approval
from the Board for trust             2015-04-29
financing (if applicable)

Disclosure date for approval
from board of shareholders for
trust financing (if applicable)

                                     Yes, the decision-making process that the company uses idle raised funds to purchase financial
                                     products meets the "Articles of Association", "Raised Funds Management System" and other
                                     relevant provisions. Using idle raised funds to purchase financial products is implemented in the
Trust financing plan in the future
                                     premise of not affecting the main business. A certain amount of investment income can be
                                     obtained by properly investing in the low-risk financial products so as to improve the company's
                                     capital usage efficiency.

(2) Entrusted loans
□ Applicable    √ Not applicable
The company had no entrusted loans in the reporting period.

4. Other material contracts
□ Applicable    √ Not applicable
No other material contracts for the Company in reporting period




                                                                        51
                                                                          深圳市特力(集团)股份有限公司 2015 年年度报告全文


XVIII. Explanation on other significant events

□ Applicable √ Not applicable
The Company had no explanation on other significant events in the reporting period.


XIX. Significant event of subsidiary of the Company

□ Applicable √ Not applicable


XX. Social responsibility

□ Applicable √ Not applicable


XXI. Issuance of corporate bonds

Whether the company has corporate bonds that have been publicly issued and listed on the stock exchange, and not yet due or due but
not fully cashed on the approval date of annual report
No




                                                                52
                                                                                 深圳市特力(集团)股份有限公司 2015 年年度报告全文



    Section VI. Changes in Shares and Particulars about Shareholders
I. Changes in Share Capital
1. Changes in Share Capital
                                                                                                                                 In Share

                                    Before change               Increase/decrease in this time (+ , - )                 After change

                                                                                  Capitaliza
                                                                     Bonus         tion of
                                  Amount      Ratio     New issue                              Other      Subtotal   Amount       Ratio
                                                                         share     public
                                                                                   reserve

                                  14,587,05             77,000,00                                      77,000,00 91,587,05
I. Restricted shares                           6.62%                                                                              30.81%
                                         6                      0                                                0          6

2. State-owned corporation        14,587,05                                                                          20,587,05
                                               6.62% 6,000,000                                         6,000,000                   6.93%
shares                                   6                                                                                  6

                                                        71,000,00                                      71,000,00 71,000,00
3. Other domestic shares                                                                                                          23.88%
                                                                0                                                0          0

Including: domestic legal                               71,000,00                                      71,000,00 71,000,00
                                                                                                                                  23.88%
person’s shares                                                0                                                0          0

                                  205,694,5                                                                          205,694,5
II. Un-restricted shares                      93.38%                                                                              69.19%
                                        44                                                                                 44

                                  179,294,5                                                                          179,294,5
1. RMB ordinary shares                        81.39%                                                                              60.31%
                                        44                                                                                 44

2. Domestically listed foreign 26,400,00                                                                             26,400,00
                                               11.98%                                                                              8.88%
shares                                   0                                                                                  0

                                  220,281,6             77,000,00                                      77,000,00 297,281,6
III. Total shares                             100.00%                                                                            100.00%
                                        00                      0                                                0         00

Reasons for share changed
√ Applicable □ Not applicable

During the reporting period, the restricted shares has increased by 77 million Shares because the company issued
the non-public offering of shares to two specified objectives to raise funds, respectively issued RMB ordinary
shares of 6 million shares to Shenzhen Special Development Group Co., Ltd., and issued RMB ordinary shares of
71 million shares to Shenzhen Capital Fortune Jewelry Industry Investment Enterprise (limited partnership).


Approval of share changed
√ Applicable □ Not applicable

On April 21, 2014, the company held the nineteenth interim meeting of the seventh board of directors which
deliberated and passed the motions relevant to this offering, such as “Motion about the program of the company’s
non-public offering of shares”; on June 3, 2014, the company held the fourth extraordinary general meeting in
2014 which deliberated and passed the motions relevant to this offering, such as “Motion about the program of the
company’s non-public offering of shares”. On November 21, 2014, the company’s non-public offering of shares


                                                                    53
                                                                             深圳市特力(集团)股份有限公司 2015 年年度报告全文


has been checked and passed by the Issuance Examination Commission of China Securities Regulatory
Commission; on January 29, 2015, the company’s non-public offering of shares has been approved and obtained
“Reply about the approval of non-public offering of shares of Shenzhen Test Rite (Group) Co. Ltd.” (SFC license
[2015] No. 173).


Ownership transfer of share changes
√ Applicable □ Not applicable

On March 18, 2015, the Company has submitted the relevant registration materials of the newly increased 77
million shares of share to China Securities Depository and Clearing Co., Ltd. Shenzhen Branch, the newly
increased share this time has been registered to the account on the trading day (March 26, 2015) just one day
before its offering day (March 27, 2015), and has been officially included in stock transfer books of listed
companies.


Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common
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

                                                                Restricted
                                                                 Shares
                      Opening shares      Shares released       Increased       Ending shares     Restricted
   Shareholders                                                                                                 Date for released
                         restricted          in Period             In             restricted       reasons
                                                                   the
                                                                 Period

SHENZHEN SDG
                            14,587,056                      0       6,000,000       20,587,056 Additional issue 2018-3-36
CO., LTD.

Shenzhen Capital
Fortune Jewelry
Industry
                                      0                     0     71,000,000        71,000,000 Additional issue 2018-3-26
Investment
Enterprise (limited
partnership)

Total                       14,587,056                      0     77,000,000        91,587,056        --                  --




                                                                   54
                                                                              深圳市特力(集团)股份有限公司 2015 年年度报告全文


II. Securities issuance and listing

1. Security offering (without preferred stock) in Reporting Period

√ Applicable □ Not applicable

Name of stock and                                                                                  Number of
                                        Issue price (or                                                             Date of termination of
    derivative          Issue date                        Number of issue    Date of listing     permitted listed
                                         interest rate)                                                                the transaction
     securities                                                                                    transactions

Stock

Tellus A            2015-03-27         RMB 8.4                 77,000,000 2018-03-26                  77,000,000

Switching Company bonds, the separation transaction of switching company bonds, corporate bonds

Other derivative securities

Description of the issue of securities in the reporting period (excluding preferred shares)
In the reporting period, on January 29, 2015, the company’s non-public offering of shares has been approved and
obtained “Reply about the approval of non-public offering of shares of Shenzhen Test Rite (Group) Co. Ltd.” (SFC
license [2015] No. 173). On March 18, 2015, the Company has submitted the relevant registration materials of the
newly increased 77 million shares of share to China Securities Depository and Clearing Co., Ltd. Shenzhen Branch,
the newly increased share this time has been registered to the account on the trading day (March 26, 2015) just
one day before its offering day (March 27, 2015), and has been officially included in stock transfer books of listed
companies.


2. Changes of total shares and shareholders structure as well as explanation on changes of assets and
liability structure

√ Applicable □ Not applicable

The changes in the share capital structure of the issue are as follows:

              Type                             Before the issue                               After the issue

                                     Amount (share)             Ratio           Amount (share)               Ratio

I.Restricted          circulation          14,587,056                   6.62%         91,587,056                    30.81%
shares

RMB ordinary shares                        14,587,056                   6.62%         91,587,056                    30.81%

II.Un-restricted circulation              205,694,544                93.38%          205,694,544                    69.19%
          shares

1. RMB ordinary shares                    179,294,544                81.40%          179,294,544                    60.31%

2. Domestically listed                     26,400,000                11.98%           26,400,000                    8.88%
foreign shares

              Total                       220,281,600              100.00%           297,281,600                  100.00%


                                                                   55
                                                                                         深圳市特力(集团)股份有限公司 2015 年年度报告全文


During the reporting period, the company’s total raise funds amount of non-public offering of shares has reached
646,800,000 Yuan, and the net amount of raise funds was 633,520,000.00 Yuan after deducting the issuance costs
of 13,280,000.00 Yuan, the company’s share has increased from 220,281,600 shares to 297,281,600 shares, an
increase of 77,000,000 shares and increased the company’s share by 77,000,000.00 Yuan, and increased the
capital of the company - capital premium of 556,520,000.00 Yuan. On December 31, 2015, the company’s
asset-liability ratio was 24.82%, down 50.09% compared with the asset-liability ratio at the end of 2014 which
was 74.91%. After the non-public offering of shares, the company’s asset size has increased, financial risk has
reduced, and debt paying ability has greatly improved.

3. Existing internal staff shares

□ Applicable √ Not applicable

III. Particulars about shareholder and actual controller of the Company
1. Amount of shareholders of the Company and particulars about shares holding
                                                                                                                                          In Share

                                                                                                                   Total preference
                                                                                                                   shareholders
                                                                             Total       preference
                                    Total     common                                                               with          voting
Total common                                                                 shareholders with
                                    stock                                                                          rights recovered
stock                                                                        voting          rights
                                    shareholders     at                                                            at end of last
shareholders in            76,801                                   66,810 recovered at end of                 0                                0
                                    end of last month                                                              month         before
reporting                                                                    reporting period (if
                                    before      annual                                                             annual        report
period-end                                                                   applicable) (found
                                    report disclosed                                                               disclosed        (if
                                                                             in note8)
                                                                                                                   applicable)
                                                                                                                   (found in note8)

                           Particulars about shares held above 5% by shareholders or top ten shareholders

                                                            Total                                             Number of share pledged/frozen
                                                                                      Amount      Amount
                                                       sharehold
                                             Proportio           Changes       of         of
   Full name of           Nature of            n of      ers at
                                                                 in report restricted un-restrict
   Shareholders          shareholder          shares the end of
                                                                                                              State of share          Amount
                                               held               period     shares ed shares
                                                         report
                                                                              held       held
                                                         period

SHENZHEN SDG State-owned                                  151,870,5                   20,587,05 131,283,5
                                               51.09%                    6,000,000
CO., LTD.             corporation                                   60                        6         04

Shenzhen Capital
Fortune Jewelry
                      Domestic        non
Industry                                                  71,000,00 71,000,00 71,000,00
                      state-owned              23.88%
Investment                                                          00                        0
                      corporate
Enterprise (limited
partnership)

GUOTAI JUNAN Foreign
                                                0.39% 1,173,232 1,096,232                         1,173,232
SECURITIES(HO corporation


                                                                            56
                                                                              深圳市特力(集团)股份有限公司 2015 年年度报告全文


NGKONG)
LIMITED

KGI ASIA             Foreign
                                              0.27%     817,211                           817,211
LIMITED              corporation

                     Foreign nature
Weng Zhengwen                                 0.19%     563,000                           563,000
                     person

Guoyuan
Securities           Foreign
                                              0.16%     489,078 -402,504                  489,078
Brokerage (Hong      corporation
Kong) Co., Ltd.

                     Domestic nature
Chen Chujia                                   0.16%     471,090                           471,090
                     person

                     Domestic nature
Zeng Huiming                                  0.13%     400,000 50,000                    400,000
                     person

                     Domestic nature
Zhou Zhenbo                                   0.13%     380,000                           380,000
                     person

                     Domestic nature
Qin Yuyan                                     0.10%     301,227                           301,227
                     person

Strategy investors or general              Shenzhen     Capital    Fortune   Jewelry     Industry     Investment     Enterprise    (limited
corporation comes top 10 shareholders partnership)holds 71,000,000 RMB ordinary shares of the Company through private
due to rights issue (if applicable) (see   placement, the shares subscribe cannot be trade or transfer within 36 months since the
note3)                                     placement ended (27th March 2015)

                                           Among the top ten shareholders, there exists no associated relationship between the
                                           state-owned legal person’s shareholders Shenzhen SDG Co., Ltd and other shareholders,
Explanation on associated relationship
                                           and they do not belong to the consistent actionist regulated by the Management Measure of
among the top ten shareholders or
                                           Information Disclosure on Change of Shareholding for Listed Companies. For the other
consistent action
                                           shareholders of circulation share, the Company is unknown whether they belong to the
                                           consistent actionist.

                                    Particular about top ten shareholders with un-restrict shares held

                                                                                                                 Type of shares
          Shareholders’ name                 Amount of un-restrict shares held at Period-end
                                                                                                              Type           Amount

                                                                                                     RMB ordinary
SHENZHEN SDG CO., LTD.                                                                 131,283,504                           131,283,504
                                                                                                     shares

GUOTAI JUNAN                                                                                         Domestically
SECURITIES(HONGKONG)                                                                     1,173,232 listed foreign                 1,173,232
LIMITED                                                                                              shares

                                                                                                     Domestically
KGI ASIA LIMITED                                                                          817,211 listed foreign                   817,211
                                                                                                     shares




                                                                    57
                                                                            深圳市特力(集团)股份有限公司 2015 年年度报告全文


                                                                                               Domestically
Weng Zhengwen                                                                         563,000 listed foreign               563,000
                                                                                               shares

                                                                                               Domestically
Guoyuan Securities Brokerage (HK)
                                                                                      489,078 listed foreign               489,078
Co., Ltd.
                                                                                               shares

                                                                                               Domestically
Chen Chujia                                                                           471,090 listed foreign               471,090
                                                                                               shares

                                                                                               Domestically
Zeng Huiming                                                                          400,000 listed foreign               400,000
                                                                                               shares

                                                                                               Domestically
Zhou Zhenbo                                                                           380,000 listed foreign               380,000
                                                                                               shares

                                                                                               Domestically
Qin Yuyan                                                                             301,227 listed foreign               301,227
                                                                                               shares

                                                                                               Domestically
Lu Zhang                                                                              280,610 listed foreign               280,610
                                                                                               shares

                                          Among the top ten shareholders, there exists no associated relationship between the
Expiation on associated relationship or
                                          state-owned legal person’s shareholders Shenzhen SDG Co., Ltd and other shareholders,
consistent actors within the top 10
                                          and they do not belong to the consistent actionist regulated by the Management Measure of
un-restrict shareholders and between
                                          Information Disclosure on Change of Shareholding for Listed Companies. For the other
top 10 un-restrict shareholders and top
                                          shareholders of circulation share, the Company is unknown whether they belong to the
10 shareholders
                                          consistent actionist.

Explanation on shareholders involving
margin business about top ten common
                                          N/A
shareholders with un-restrict shares
held(if applicable) (see note4)

Whether top ten common stock shareholders or top ten common stock shareholders with un-restrict shares held have a buy-back
agreement dealing in reporting period
□ Yes √ No
The top ten common stock shareholders or top ten common stock shareholders with un-restrict shares held of the Company have no
buy-back agreement dealing in reporting period.


2. Controlling shareholder of the Company

Nature of controlling shareholders: local state-owned holding
Type of controlling shareholders: legal person


                                                                  58
                                                                                深圳市特力(集团)股份有限公司 2015 年年度报告全文


                                    Legal person/person
   Controlling shareholders                               Date of foundation     Organization code         Main operation business
                                    in charge of the unit
                                                                                                      Investment to set up industrial
                                                                                                      (specific items to be declared
                                                                                                      separately; Invest in tourism;
                                                                                                      development and operation of
                                                                                                      real estate; domestic business,
                                                                                                      material supply and marketing
SHENZHEN SDG CO., LTD. Zhang Junlin                       1982-06-20           192194195              industry (excluding monopolized
                                                                                                      commodity and commodity
                                                                                                      under special government
                                                                                                      control); economic
                                                                                                      information(excluding restricted
                                                                                                      projects); import & export
                                                                                                      business

Equity         of         other
foreign/domestic          listed
                                    Except for the equity of the Company hold by SDG, 39.18 percent equity of Shenzhen SDG
company that controlled by
                                    Information Co., Ltd. (short form”SDGI”, code: 000070) were held by SDG; and holds 1.31 percent
and have joint-stock from
                                    equity of Sichuan Jinlu Group Co., Ltd. (short form”Jinlu Group”, code: 000510)
controlling    shareholder     in
reporting period

Changes of controlling shareholders in reporting period
□ Applicable √ Not applicable
The Company had no changes of controlling shareholders in reporting period



3. Actual controller of the Company

Nature of actual controller: local state-owned assets management
Type of actual controller: legal person
                                     Legal
Actual controlling shareholders person/person in Date of foundation              Organization code         Main operation business
                                charge of the unit
Shenzhen Municipal People’s
Government State-owned
                                     Gao Zimin           2003-07-20            K31728067               Not applicable
Assets Supervision and
Administration Commission

Equity    of    domestic/oversea
listed   company     control      by Not applicable
actual controller in report period

Changes of actual controller in 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:


                                                                      59
                                                                         深圳市特力(集团)股份有限公司 2015 年年度报告全文




       Shenzhen Municipal People’s Government State-owned Assets Supervision and Administration Commission


                          100%


                Shenzhen Investment Holdings Co., Ltd.

                                                                    43.3%
                           19.49%



                                              Shenzhen SDG Co., Ltd.


                                             51.09%


                                         Shenzhen Tellus Holding Co., Ltd.




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

                                     Legal rep./person in                                              Main business or
      Corporate shareholders                                 Dated founded     Register capital
                                        charge of unit                                               management activity

Shenzhen Yuanzhi Fuhai Jewelry
Industry Investment enterprise      Cheng Houbo             2014-04-18       620,000,000 yuan     Equity investment
(limited partnership)


5. Limitation and reducing the holdings of shares of controlling shareholders, actual controllers,
restructuring side and other commitment subjects

□ Applicable √ Not applicable




                                                               60
                                                         深圳市特力(集团)股份有限公司 2015 年年度报告全文




                                      Section VII. Preferred Stock

□ Applicable   √ Not applicable
The Company had no preferred stock in the Period.




                                                    61
                                                                              深圳市特力(集团)股份有限公司 2015 年年度报告全文



          Section VIII. Particulars about Directors, Supervisors, Senior
                                              Executives and Employees

I. Changes of shares held by directors, supervisors and senior executives

                                                                                          Amount    Amount
                                                                                 Shares                                 Shares
                                                                                          of shares of shares
                                                            Start                 held at                       Other   held at
                        Working                                        End date            increased decreased
                                                           dated of
                Title                   Sex     Age                    of office period-be                     changes period-en
  Name                    status                            office                           in this  in this
                                                                         term
                                                            term                    gin                        (share)     d
                                                                                             period   period
                                                                                  (Share)                               (Share)
                                                                                            (Share) (Share)

                        Currently                          2015-05- 2018-05-
Lv Hang Chairman                    M                 55
                        in office                          20         19

                        Currently                          2015-05- 2018-05-
Yu Lei     Director                 F                 48
                        in office                          20         19

Zhang                   Currently                          2015-05- 2018-05-
           Director                 M                 43
Quanxun                 in office                          20         19

Chen                    Currently                          2015-05- 2018-05-
           Director                 M                 44
Gengsen                 in office                          20         19

           Director , Currently                            2015-05- 2018-05-
Ding Hui                            M                 43
           GM           in office                          20         19

Yang       Director , Currently                            2015-05- 2018-05-
                                    F                 44
Jianping   CFO          in office                          20         19

           Independ                                                   2018-05-
Wei                     Currently                          2015-05-
           ent                      M                 44              19
Shaohui                 in office                          20
           Director

           Independ                                                   2018-05-
                        Currently                          2015-05-
Ji Huibin ent                       M                 46              19
                        in office                          20
           Director

           Independ                                                   2018-05-
Li                      Currently                          2015-05-
           ent                      M                 54              19
Xiangjun                in office                          20
           Director

           Chairman                                                   2018-05-
           of                                                         19
           Superviso Currently                             2015-05-
Chen Hua                            F                 52
           ry           in office                          20
           Committe
           e

Li Miao    Superviso Currently M                      43 2015-05- 2018-05-


                                                                      62
                                                                                    深圳市特力(集团)股份有限公司 2015 年年度报告全文


           r           in office                             20           19

Fu         Superviso Currently                               2015-05- 2018-05-
                                   M                    43
Chunlong r             in office                             20           19

Li         Superviso Currently                               2015-05- 2018-05-
                                   F                    48
Xiaohong r             in office                             20           19

Ke                                                                        2018-05-
           Superviso Currently                               2015-05-
Wenshen                            F                    48                19
           r           in office                             20
g

Ren        Deputy      Currently                             2015-05- 2018-05-
                                   M                    53
Yongjian GM            in office                             20           19

           Deputy      Currently                             2015-05- 2018-05-
Feng Yu                            M                    49
           GM          in office                             20           19

           Deputy      Currently                             2015-05- 2018-05-
Li Ming                            M                    54
           GM          in office                             20           19

           Secretary                                                      2018-05-
                       Currently                             2015-12-
Qi Peng    of the                  M                    43                19
                       in office                             28
           board

Luo        Director, Office                                  2012-06- 2015-06-
                                   M                    54
Bojun      GM          leaving                               06           05

           Director, Office                                  2012-06- 2015-06-
Fu Bin                             M                    54
           CFO         leaving                               06           05

           Independ
Liu                    Office                                2012-06- 2015-06-
           ent                     F                    62
Hongling               leaving                               06           05
           Director

           Chairman
           of
Guan       Superviso Office                                  2012-06- 2015-06-
                                   M                    62
Zhicai     ry          leaving                               06           05
           Committe
           e

Wang       Superviso Office                                  2012-06- 2015-06-
                                   M                    58
Guangye r              leaving                               06           05

Yao        Deputy      Office                                2014-08- 2015-10-
                                   M                    53                                   0      500                        500
Xiongbin GM            leaving                               08           23

Total            --        --          --          --             --           --            0      500          0      0      500


II. Changes of directors, supervisors and senior executives

        Name              Title             Type                       Date                            Reasons




                                                                         63
                                                                          深圳市特力(集团)股份有限公司 2015 年年度报告全文


Luo Bojun          Director, GM       Office leaving    2015-04-01       Due to the work change

Fu Bin             Director, CFO      Office leaving    2015-04-01       Due to the work change

                                      Leave the post
                   Independent
Liu Hongling                          while office      2015-05-20       General election of the Board
                   Director
                                      terms expired

                   Chairman of        Leave the post
Guan Zhicai        Supervisory        while office      2015-05-20       General election of the Board
                   Committee          terms expired

                                      Leave the post
Wang Guangye       Supervisor         while office      2015-05-20       General election of the Board
                                      terms expired

Yao Xiongbin       Deputy GM          dismissal         2014-08-08       Due to the work change

Li Miao            Director           appointment       2015-05-20       General election of the Board


III. Post-holding

Professional background, major working experience and present main responsibilities in Company of directors, supervisors and
senior executive

     Name                                              Main work experience and holding the post

Lv Hang            Master degree, a senior political division. He successively served as chairman, GM and deputy secretary of the
                   general branch in Shenzhen SDG Xiaomeisha Tourism Center; Director and GM of Shenzhen Tellus Holding Co.,
                   Ltd.; GM of Shenzhen SDG Property Management Co., Ltd.; now he serves as chairman of the Company.
Yu Lei             Master degree, certified real estate appraiser and Real estate economist. She ever took the post of secretary of
                   international corporation dept. of Vocational Education Training Center of Chaoyang District, Beijing, the deputy
                   director, director and deputy chief of Luohu Branch of Shenzhen Home Land Planning Bureau, the vice director and
                   director of State-owned Assets Supervision and Administration Commission of People’s Government of Shenzhen;
                   now she is controlling shareholder of the company, and serves as deputy GM of SHENZHEN SDG CO., LTD. and
                   Director of the Company.
Zhang Quanxun Master. Served as auditor in audit department and project manager of Shenzhen Zhixin Accounting Firm; general
                   manager assistant of Xiamen Xingdao Feilu Investment Co., Ltd.; secretary of the board and general manager
                   assistant and worker director of Fujian Planning and Investing and Financing Co., Ltd.; deputy director of Xiamen
                   Productivity Promotion Center; director in plastic business department and strategic development department of
                   Shenzhen Tongchan Packaging Group; director in strategic research and merger department of Shenzhen Zhiyuan
                   Investment Co., Ltd.. Serves as the vice president of Shenzhen Capital Fortune Investment and Management Co.,
                   Ltd., and the director of the Company.
Chen Gengsen       Bachelor degree, intermediate economist, accountant. Served as accountant in financial department of Guangdong
                   Shanjian International Industry (Group) Co., Ltd.; financial manager of Guangdong Shanjian International Industry
                   (Group) Co., Ltd.; chief financial officer and director in accounting center of Guangdong Shanjian International
                   Industry (Group) Co., Ltd.; chief financial officer of Guangdong Longshan Environmental and Hi-tech Industry
                   Group Co., Ltd.; managing director of Shenzhen Qibang Investment Holdings Co., Ltd.; and serves as president of
                   Shenzhen Shengbang Trading Co., Ltd., and the director of the Company.



                                                                 64
                                                                         深圳市特力(集团)股份有限公司 2015 年年度报告全文


Ding Hui        Master degree, a senior political division. He successively served as GM and deputy chairman of Huali Company;
                chief of office of SDG and serves as Director and GM of the Company currently.
Yang Jianping   Graduate and CPA. Served as the manager in finance and accounting department of Shenzhen SDG Information Co.,
                Ltd., financial manager in Taike Branch, financial manager in Optical Cable Branch, deputy manager in finance and
                accounting department, manager in finance and accounting department, etc., and serves as Director,chief financial
                officer of the Company.
Wei Shaohui     Master degree. He ever took post of law assistant and full-time attorney of Guangdong Shu Jun Law Firm. Now he
                serves as senior partner of Guangdong Shu Jun Law Firm, and independent director of the Company; meanwhile
                serves as independent director of Longhao Tiandi Co., Ltd. and Shenzhen Click Technology Co., Ltd. respectively.
Ji Huibin       Master degree, senior engineer. He ever took the post of project manager, director of engineering dept. deputy GM
                and GM of Shenzhen Jianyi Municipal Engineering Co., Ltd; director of engineering dept. and director of operation
                dept. of Shenzhen Jianyi Industrial Co., Ltd. and deputy GM of Pang Yuan Real Estate Development Co., Ltd. Now
                he works in Shenzhen International Logistic Development Co., Ltd. and serves as independent director of the
                Company
Li Xiangjun     Master’s degree, economist, CPA, CTA. Served as the leader in Shenzhen Auditing Bureau, and serves as the senior
                partner of Zhongqin Wanxin Certified Public Accountants (special general partnership), and the independent
                directors of the Company.
Chen Hua        Bachelor's degree, economist. Served as deputy director in credit investment department of Guangdong International
                Trust and Investment Co., Ltd., Shenzhen Branch; deputy general manager of Guangdong International Trust and
                Investment (Hong Kong) Co., Ltd.; director in customer service center of Shenzhen Changjiang Xingye
                Development Co., Ltd.; director in human resources department of Shenzhen Shipping Corporation; office director
                of Shenzhen SDG Co., Ltd.; director and general manger of Shenzhen SDG Information Co., Ltd.; and serves as the
                chairman of the board of supervisors of the Company.
Li Miao         Graduate, senior accountant. Served as chief in audit office of Shenzhen Nanyou (Holdings) Ltd., deputy manager in
                finance department of Shenzhen Jujian Co., Ltd.; accounting manager in headquarters and director in financial center
                of Shenzhen Press Group, and chief financial officer in Shenzhen Jin Feng Fan Property Development Co., Ltd;
                Director of Shenzhen Tellus Holding Co., Ltd;Serves as the director and chief financial officer in the Company’s
                controlling shareholder - Shenzhen SDG Co., Ltd., the supervisor of the Company, and the supervisor of Shenzhen
                Investment Holdings Limited.
Fu Chunlong     Master degree. He ever took the Business Deputy General Manage of HR Department of Shenzhen SDG Co., Ltd.,
                Deputy Team Leader in Work Team of Shenzhen Tefa Huatong Packaging Co., Ltd. and Deputy Minister of HR
                Department of Shenzhen SDG Co., Ltd. Now, he is the Deputy Minister of HR Department of Shenzhen SDG Co.,
                Ltd. and Supervisor of the Company.
                Bachelor degree, an accountant. He ever acts as the teacher in School of Guangdong Foreign Trade, major
Ke Wensheng     accountant of Shenzhen SDG Co., Ltd. and deputy GM and GM of the Accounting and Financial Dept. of the
                Company. Now, he acts as the GM of Accounting and Financial Dept. and staff supervisor of the Company.
Li Xiao Hong    Bachelor, economists, enterprise human resource manager. Served as a section member in foreign-related business
                office of Hunan Computer Factory; manger in import and export department and marketing department of Shenzhen
                Changdao Computer Graphics United Co., Ltd.; staff and director in secretariat of the board of directors, office, the
                party and the masses personnel department of the Company; deputy manager of the Company’s automobile business
                division and integration division; deputy manager of the Company’s human resources department; and serves as the
                manger and employee supervisor of the Company’s human resources (the party and the masses) department;
Ren Yongjian    Bachelor degree, an accountant. He ever took the posts of Deputy Manager of Planning & Financial Dept. and


                                                               65
                                                                               深圳市特力(集团)股份有限公司 2015 年年度报告全文


                  Manager of Auditing Dept. in Shenzhen Special Economic Zone Development (Group) Company; Director and CFO
                  of the Company. He now acts as Deputy General Manager of the Company.
Feng Yu           Bachelor degree. He ever took the Deputy General Manger of Shenzhen Xianke Real-estate Co., Ltd., Manager of
                  Investment Department of China Sports Group Industry Co., Ltd.; Director to the Office of General Manger of
                  Shenzhen SDG Co., Ltd; and Supervisor of the Company. Now, he acts as Deputy General Manager of the Company.
Li Ming           Bachelor degree, engineer. Served as a teacher in Guangzhou Nonferrous Metals Industry School; director of
                  engineering and deputy general manager of Shenzhen South Tongfa Real Estate Development Co., Ltd.; director of
                  development department and property management department of Shenzhen South Tongfa Industry Co., Ltd.; deputy
                  general manager, director and chief engineer in enterprise development department of Shenzhen Jintong Property
                  Management Co., Ltd.,; manager in Swan project department and deputy general manger of Shenzhen SDG
                  Properties Co., Ltd., and serves as the deputy general manager of the Company.
Qi Peng           Master's degree, economist. Served as the secretary to the president and director in information center of Shenzhen
                  Special Economic Zone Development (Group) Co., Ltd.; deputy director in secretariat of the board, and deputy
                  manger in enterprise development department, and manager in automobile business department and management
                  department of Shenzhen Test Rite (Group) Co., Ltd.; general manager of Shenzhen Test Rite Automobile Service
                  Chain Co., Ltd.; general manager of Shenzhen Test Rite New Yongtong Automobile Development Co., Ltd.; director
                  secretariat of the board of Shenzhen Test Rite (Group) Co., Ltd.; and serves as secretary of the board of the Company
Post-holding in shareholder’s unit

√Applicable   □ Not applicable

                                                                                                                       Received
                                                                Position in
                                                                                 Start dated of   End date of     remuneration from
     Name                    Name of shareholder’s unit       shareholder’s
                                                                                  office term     office term     shareholder’s unit
                                                                   unit n
                                                                                                                        (Y/N)

Yu Lei           SHENZHEN SDG CO., LTD.                        Deputy GM                                         Y

Li Miao          SHENZHEN SDG CO., LTD.                        CFO                                               Y

                                                               Director of
Fu Chunlong      SHENZHEN SDG CO., LTD.                        H&R                                               Y
                                                               department

Zhang            Shenzhen Capital Fortune Jewelry Industry
                                                                                                                 Y
Quanxun          Investment Enterprise (limited partnership)

                 Shenzhen Capital Fortune Jewelry Industry
Chen Gengsen                                                                                                     N
                 Investment Enterprise (limited partnership)

Post-holding in other unit
√Applicable   □ Not applicable

                                                                                                                       Received
                                                                 Position in      Start dated of End date of office remuneration
     Name                        Name of other units
                                                                 other unit n      office term         term         from other unit
                                                                                                                         (Y/N)

Wei Shaohui       Guangdong Shu Jun Law Firm                   Senior partner                                      Y

Ji Huibin         Shenzhen International Logistic                                                                  Y



                                                                  66
                                                                             深圳市特力(集团)股份有限公司 2015 年年度报告全文


                 Development Co., Ltd.

                 Zhong Qin Wanxin Certified Public
Li Xiangjun                                                   Senior partner                                       Y
                 Accountants (LLP)

Punishment of securities regulatory authority in recent three years to the company’s current and outgoing directors, supervisors and
senior management during the reporting period
□ Applicable √ Not applicable


IV. Remuneration for directors, supervisors and senior executives

Decision-making procedures, recognition basis and payment for directors, supervisors and senior executives

The company executes in strict accordance with the "Salary Management System for Headquarters of Shenzhen
Test Rite (Group) Co., Ltd. (Trial)", "Staff Performance Management System for Headquarters of Shenzhen
Tellus (Group) Co., Ltd. (Trial)", "Implementing Rules of Remuneration and Appraisal Committee of the Board
of Shenzhen Test Rite (Group) Co., Ltd.", "Annual Performance Management Approaches for Leading Group
Members of Shenzhen Test Rite (Group) Co., Ltd." and other relevant system regulations, strictly implements the
performance appraisal, and pay the remuneration in accordance with the assessment results.
Remuneration for directors, supervisors and senior executives in reporting period
                                                                                                                   In 10 thousand Yuan

                                                                                                     Total               Whether
                                                                                                 remuneration          remuneration
                                                                               Post-holding
      Name                Title              Sex                Age                            obtained from the       obtained from
                                                                                      status
                                                                                               Company (before       related party of
                                                                                                    taxes)             the Company

                   Chairman, Party                                           Currently in
Lv Hang                               M                                 55                                     76 N
                   secretary                                                 office

                                                                             Currently in
Ding Hui           GM, Director       M                                 43                                   27.89 Y
                                                                             office

                                                                             Currently in
Yang Jianping      CFO, Director      F                                 44                                   23.21 Y
                                                                             office

                   Independent                                               Currently in
Wei Shaohui                           M                                 44                                      5N
                   Director                                                  office

                   Independent                                               Currently in
Ji Huibin                             M                                 46                                      5N
                   Director                                                  office

                   Independent                                               Currently in
Li Xiangjun                           M                                 54                                    2.92 N
                   Director                                                  office

                   Chairman of
                                                                             Currently in
Chen Hua           Supervisory        F                                 52                                   17.85 Y
                                                                             office
                   Committee

                                                                             Currently in
Ke Wensheng        Supervisor         F                                 48                                   33.82 N
                                                                             office



                                                                 67
                                                                               深圳市特力(集团)股份有限公司 2015 年年度报告全文


                                                                               Currently in
Li Xiaohong        Supervisor         F                                   48                                20.79 N
                                                                               office

                                                                               Currently in
Ren Yongjian       Deputy GM          M                                   53                                63.97 N
                                                                               office

                                                                               Currently in
Feng Yu            Deputy GM          M                                   49                                61.24 N
                                                                               office

                                                                               Currently in
Li Ming            Deputy GM          M                                   54                                23.21 Y
                                                                               office

Luo Bojun          Director, GM       M                                   54 Office leaving                 46.29 N

Fu Bin             Director, CFO      M                                   54 Office leaving                 45.28 N

                   Independent
Liu Hongling                          F                                   62 Office leaving                  2.08 N
                   Director

                   Chairman of
Guan Zhicai        supervisory        M                                   62 Office leaving                 41.39 N
                   committee

Wang Guangye       Supervisor         M                                   58 Office leaving                  12.9 N

Yao Xiongbin       Deputy GM          M                                   53 Office leaving                 47.08 N

Total                       --                 --                 --                    --                 555.92         --

Delegated equity incentive for directors, supervisors and senior executives in reporting period
□ Applicable √ Not applicable


V. Particulars of workforce

1. Number of Employees, Professional composition, Education background


Employee in-post   of the parent Company (people)                                                                               52

Employee in-post   of main Subsidiaries (people)                                                                               465

The total number of current employees (people)                                                                                 517

The total number of current employees to receive pay (people)                                                                  517

Retired employee’ s expenses borne by the parent Company and
                                                                                                                               217
main Subsidiaries (people)
                                                      Professional composition
               Category of professional composition                            Numbers of professional composition (people)
Production personnel                                                                                                            36

Sales personnel                                                                                                                 34

Technician                                                                                                                     105

Financial staff                                                                                                                 43

Administration staff                                                                                                           116


                                                                  68
                                                                   深圳市特力(集团)股份有限公司 2015 年年度报告全文


Others                                                                                                          183

Total                                                                                                           517

                                                 Education background
                  Type of education background                                 Numbers (people)
Master                                                                                                           13

Bachelor degree                                                                                                  93

Junior college                                                                                                  111

Technical secondary school                                                                                       50

Other                                                                                                           250

Total                                                                                                           517


2. Remuneration Policy

The company executes in strict accordance with the "Salary Management System for Headquarters of Shenzhen
Tellus (Group) Co., Ltd. (Trial)", "Staff Performance Management System for Headquarters of Shenzhen Tellus
(Group) Co., Ltd. (Trial)" and other relevant system regulations strictly implement.

3. Training programs

The Company always attaches importance to the training and development work for employees; create innovation
into part of the long-term development strategy of the Company. Combine with current situation of the Company,
and take annual planning, position requirement and responsibility as well as enterprise’s development needs into
consideration, the Company formulated a systematic training plans and talent cultivation projects; strengthen
training works in aspect of multi-tiered, multi-channel, multi-field and multi-form, including induction training for
new employees, business training for on-job employees, operation skill training for workers at the production line,
upgrade training for manager, project development and risk control training, continues to improve general quality
for employees in order to achieve a win-win situation for the Company and employees.

4. Labor outsourcing

□ Applicable√ Not applicable




                                                          69
                                                                          深圳市特力(集团)股份有限公司 2015 年年度报告全文



                                 Section IX. Corporate Governance
I. Corporate governance of the Company
During the reporting period, the Company has been observing the Company Law, Securities Law and relevant
rules issued by the CSRC, for the purpose of improving its legal person governance structure, setting
up and improving the internal control system, and standardizing its operation level. According to the Articles of
Association, Procedure Rules of General Meeting, Procedure Rules of Board of Directors, Procedure Rules of
Supervisory Committee, Working Rules of Independent Directors, Working Rules of General Manager and a
series of rules and regulations, the Company maintained formal procedures, clearly duties and obligations of its
general meeting, board of directors, supervisory committee, each specialized committee of the board and senior
manager. Each of its directors, supervisors and senior managers can perform their duties earnestly. Its corporate
governance conformed to the requirements of certain regulation documents issued by the CSRC concerning
corporate governance of listed company until the end of reporting period
During the reporting period, in order to improve the company’s internal control system, the company has revised
the "Articles of Association" in accordance with the requirements of internal controls and the company's share
capital and changes in registered capital, which has been deliberated and approved by the shareholders' meeting.
The company has developed the "Interim Management Measures for the Purchase of Financial Products", and
"Implementing Rules for Network Voting of Shareholders' Meeting", revised the "Implementing Rules of
Remuneration and Appraisal Committee of the Board", "Rules of Procedure of the Audit Committee of the Board",
"Working Rules of the Strategy Committee of the Board", and " Interim Provisions for Internal Audit ", which
have been considered and approved by the board of directors.
Is there any difference between the actual condition of corporate governance and relevant regulations about corporate governance for
listed company from CSRC?
□Yes √ No
There are no differences between the actual condition of corporate governance and relevant regulations about corporate governance
for listed company from CSRC.
II. Independency of the Company relative to controlling shareholders’ in aspect of businesses,
personnel, assets, organization and finance
The Company has been independent from the controlling shareholders in terms of business, personnel, asset,
institution and finance. The Company has independent and complete business and is able to operate
independently.
(I) Business: the Company belongs to independent legal person entity. Being completely independent from
controlling shareholders, it has independent and complete business system and is able to operate independently.
The Company has independent production, sales and service systems and its major business. There is no
inter-competition between the Company and its controlling shareholders and related parties.
(II) Personnel: the Company establishes complete labor, human resources and salary management systems. All the
senior management of the Company receives remuneration from the Company since they are employed by the
Company, and no one takes position in the enterprises owned by shareholders.
(III) Assets: the Company is completely independent from the controlling shareholder in terms of assets; each of
them is able to operate independently. The Company has complete and separate purchase system, production
system, sales system and relevant service system. Intangible assets including industry property, trademark and
non-proprietary technology are owned by the Company on separate basis.
(IV) Finance: the Company has independent financial accounting department which set independent accounting


                                                                70
                                                                 深圳市特力(集团)股份有限公司 2015 年年度报告全文


calculation system and finance management system. No controlling shareholder intervenes in the capital
application of the Company. The Company opens separate bank accounts. No capital is saved in the financial
company or settlement center account controlled by substantial shareholder or other related parties. The Company
pays taxes by law independently.
(V) Institution: the board, the supervisory committee and other internal institutions of the Company operate
independently. All the institutions of the Company are set according to the standards requirements applicable to
listed company and actual business natures of the Company. It has independent office location.

III. Horizontal competition

□ Applicable    √ Not applicable

IV. In the report period, the Company held annual shareholders’ general meeting and
extraordinary shareholders’ general meeting
1. Annual Shareholders’ General Meeting in the report period
                                        Ratio of investor
 Session of meeting            Type                              Date        Date of disclosure       Index of disclosure
                                          participation

                                                                                                      “Resolution Notice
                                                                                                  of Annual General
                                                                                                  Meeting of 2014”
                                                                                                  (No.: 2015-042)
                                                                                                  published on
Annual General        Annual General
                                                   74.97% 2015-05-20       2015-05-21             Securities Times,
Meeting of 2014       Meeting
                                                                                                  Hong Kong
                                                                                                  Commercial Daily
                                                                                                  and Juchao Website
                                                                                                  (www.cninfo.com.cn
                                                                                                  )

                                                                                                      “Resolution Notice
                                                                                                  of First
                                                                                                  Extraordinary
                                                                                                  General Meeting of
                                                                                                  2015” (No.:
First Extraordinary
                      Extraordinary                                                               2015-007) published
General Meeting of                                 66.23% 2015-02-13       2015-02-14
                      General Meeting                                                             on Securities Times,
2015
                                                                                                  Hong Kong
                                                                                                  Commercial Daily
                                                                                                  and Juchao Website
                                                                                                  (www.cninfo.com.cn
                                                                                                  )


2. Request for extraordinary general meeting by preferred stockholders whose voting rights restore

□ Applicable    √ Not applicable


                                                            71
                                                                                深圳市特力(集团)股份有限公司 2015 年年度报告全文


V. Responsibility performance of independent directors
1. The attending of independent directors to Board meetings and general meeting
                                         The attending of independent directors to Board Meeting

                        Times of Board
                                                                                                                     Absent the
                             meeting                              Times of           Times of
Name of independent                             Times of                                             Times of    Meeting for the
                          supposed to                            attending by        entrusted
       director                                 Presence                                             Absence     second time in a
                         attend in the                          communication        presence
                                                                                                                     row (Y/N)
                         report period

Liu Hongling                              5                 1                   4                0              0N

Li Xiangjun                               4                 2                   2                0              0N

Ji Huibin                                 9                 3                   6                0              0N

Wei Shaohui                               9                 3                   6                0              0N

Times for attending general meeting
                                                                                                                                  2
from independent directors

Explanation of absent the Board Meeting for the second time in a row


2. Objection for relevant events from independent directors

Independent directors come up with objection about Company’s relevant matters
□Yes √No
Independent directors has no objections for relevant events in reporting period

3. Other explanation about responsibility performance of independent directors
The opinions from independent directors have been adopted

√ Yes □ No
Explanation on advice that accepted/not accepted from independent directors

In accordance with relevant laws and regulation of “Company Law”, “Securities Laws”, “Listing Rules for Stocks”
and “System of Independent Directors”, independent directors focus on the normative of Company’s operation,
performed responsibility independently and carry out their duties diligently; issued independent and fair-ness
independent opinions on the audit institution, appointed in reporting period for non-public issue matters, financial
report and internal control of the Company, related transactions, capital contact with related parties and external
guarantee, profit distribution, amendment of article of association, director and senior executives changes as well
as other events needs independent opinions issued, which perfected supervision mechanism for the Company and
play a corresponding role in protecting legal interest of the Company and whole shareholders.
VI. Duty performance of the special committees under the board during the reporting period
The Company set three special committees under the board of directors, namely the strategic committee, the audit
committee as well as the remuneration and examination committee.
1. Duty performance of the strategic committee
The strategic committee of the board is specially set according to general meeting resolution and the Articles of
Association, responsible for study on the long term development strategy and material investment decisions and
raising its recommendations. The committee comprised of 5 directors, and the committee is chaired by chairman
of the board. During the reporting period, the committee performed its duties according to the Working Rules of

                                                                    72
                                                                          深圳市特力(集团)股份有限公司 2015 年年度报告全文


the Strategic Committee, with each of its members doing their best to perform the respective duties. The
Committee takes part in the discussion on the operation development planning and related investment projects.
Individual opinions and recommendations are encouraged. It emphasizes on legal person governance and
standardized operation. By raising measures to prevent operation risks, the committee plays an important role in
increasing the core competitiveness, strengthening scientific decisions and enhancing efficiency of material
investment decision as well as the quality of decisions.

2. The audit committee
During the reporting period, the committee performed its duties according to the Articles of Association and
Working Procedures of the Audit Committee. The committee pays close attention to the operation, finance and
implementation of standard internal control. It strengthens communications with the relevant responsible
departments within the Company, and reviews the effective appraisal on the internal control and corporate risk
management by means of telecommunication, investigation and reporting. It reviews that whether the operation,
finance and accounting policy of the Company follows relevant laws and rules, and provides management and
audit opinions.

During the annual audit, the audit committee took active attitude in relevant works. Prior to the official
involvement of Ruihua Certified Public Accountants (LLP) (hereinafter referred to as Ruihua) in the
annual audit, on 18 January 2016, the audit committee held meeting and determined the working arrangement for
2015 annual audit after negotiation with Ruihua, reviewed the financial statements prepared by the Company,
and believed that the preparation of such statements was in compliance with provisions of enterprise accounting
principles, reflecting the financial position as of the end of 2015 and operating results of 2015 on a truthful basis.
Thus, the committee agreed to submit the financial statements and related information to Ruihua for audit.

After the official audit by Ruihua, members of the audit committee made calls to enquire the audit progress, and
urged the accounting firm to complete audit as scheduled according to the working arrangement, so as to ensure
prompt disclosure of its annual report. Meanwhile, the committee conducted communications with the
accountants in respect of the issues found in audit works.

After the issuance of initial audit opinions by the accountants, the audit committee held meeting on 29 March
2016 to re-review the financial statements, and formed written opinions and resolutions in respect of the annual
financial statements, audit work summary report and reengagement of CPA, the reengagement of CPA was
submitted to the board for consideration.

3. Duty performance of the remuneration and examination committee

During the reporting period, the remuneration and examination committee reviewed the remuneration of directors,
supervisors and senior management of the Company. The entire members of the committee believed that the
remuneration payment in the reporting period complied with the Company’s performance examination system.
The remuneration of directors, supervisors and senior management were determined according to the relevant
systems of the Company.


VII. Works from Supervisory Committee
The Company has risks in reporting period that found in supervisory activity from supervisory committee
□ Yes √ No
Supervisory committee has no objection about supervision events in reporting period

VIII. Examination and incentives of senior management

                                                                73
                                                                                      深圳市特力(集团)股份有限公司 2015 年年度报告全文


Board of the Company evaluated senior executives based on relevant regulations at end of this reporting period.

IX. Internal Control

1. Details of major defects in IC appraisal report that found in reporting period

□Yes √ No


2. Appraisal Report of Internal Control


Disclosure date of full internal control
                                                2016-04-15
evaluation report

Disclosure index of full internal control http://www.cninfo.com.cn Juchao website http://www.cninfo.com.cn, the website for
evaluation report                               information disclosure appointed by Shenzhen Stock Exchange

Included in the scope of the evaluation unit
assets accounted for the proportion of the
                                                                                                                                       100.00%
total assets of the company's consolidated
financial statements

Included in the scope of evaluation unit
operating     income    accounted   for   the
                                                                                                                                       98.99%
proportion of the company's consolidated
financial statements operating income

                                                        Defects Evaluation Standards

                    Category                                  Financial Reports                               Non-financial Reports

                                                1.   Major    deficiencies:      a.    Fraud    of 1. Major deficiencies: a. Great decisions
                                                management         leading       to       material violate    the    company’s   established
                                                misstatements of financial results or false procedure, resulting in significant losses
                                                financial reports, which mislead users of to the company; b. Serious violation of
                                                financial    statements       and      result    in laws     and    regulations   results   in
                                                decision-making mistakes and litigation; b. significant losses to the company; c.
                                                Ineffective control environment; c. Major Important businesses are lack of system
                                                internal control deficiencies found and control or system control fails; d.
                                                reported to the management but haven’t Serious brain drain of core management
Qualitative criteria                            been corrected after a reasonable time; d. or core technical staff; e. Significant
                                                The decision-making of the company’s deficiencies in the internal evaluation
                                                major    matters    has    not      fulfilled   the results have not been corrected.
                                                corresponding decision-making             process,
                                                resulting in significant losses of the 2. Significant deficiencies: a. The
                                                company;    e.   Important    businesses company violates the enterprise internal
                                                involving the company’s production and regulations and causes significant
                                                management are lack of effective control; f. losses; b. Serious brain drain of
                                                Other correct judgments to the statement business personnel in the company’s
                                                users.                                       key positions; c. The company’s


                                                                      74
                                                                                            深圳市特力(集团)股份有限公司 2015 年年度报告全文


                                                                                                               significant    business     systems   have
                                              2. Significant deficiencies: a. The selection deficiencies;                        d.      The   significant
                                              and application of accounting policies do deficiencies in the internal control of
                                              not    follow         the        generally           accepted the company have not been corrected.
                                              accounting          principles;          b.        Anti-fraud
                                              programs and control measures have been 3. General deficiencies: Deficiencies
                                              not established; c. Corresponding control except for major and significant
                                              mechanism for accounts handling of deficiencies.
                                              unconventional or special transactions has
                                              not been established or implemented and
                                              has    no       there           is      no         appropriate
                                              compensatory controls; d. The controls to
                                              the period-end financial reporting process
                                              have one or more defects and cannot
                                              reasonably      ensure           that        the     financial
                                              statements prepared are true and accurate.


                                              3. General deficiencies: Deficiencies except
                                              for major and significant deficiencies.

                                                                                                               1. Major deficiencies: loss amount >
                                                                                                               1.5% of owner's equity attributable to
                                              1.    Major         deficiencies:             misstatement
                                                                                                               parent company, and absolute amount >
                                              amount > 10% of total profit, and absolute
                                                                                                               5 million yuan;
                                              amount          >           2        million            yuan;
                                                                                                               2. Significant deficiencies: 0.5% of
                                              2. Significant deficiencies: 5% of total
                                                                                                               owner's equity attributable to parent
                                              profit < misstatement amount ≤10% of total
                                                                                                               company < loss amount ≤ 1.5% of
                                              profit, and absolute amount > 1 million
Quantitative standard                                                                                          owner's equity attributable to parent
                                              yuan; or 1 million yuan < absolute amount
                                                                                                               company, or 1 million yuan < absolute
                                              ≤ 2 million yuan, and misstatement
                                                                                                               amount ≤ 5 million yuan;
                                              amount > 5% of total profit.
                                              3.    General        deficiencies:            misstatement
                                                                                                               3. General deficiencies: loss amount     ≤
                                              amount ≤ 5% of total profit, or absolute
                                                                                                               0.5% of owner's equity attributable to
                                              amount ≤ 1 million yuan
                                                                                                               parent company, or absolute amount ≤ 1
                                                                                                               million yuan

Amount of significant defects in financial
                                                                                                                                                             0
reports

Amount     of    significant   defects   in
                                                                                                                                                             0
non-financial reports

Amount of important defects in financial
                                                                                                                                                             0
reports

Amount     of    important     defects   in
                                                                                                                                                             0
non-financial reports



                                                                              75
                                                                             深圳市特力(集团)股份有限公司 2015 年年度报告全文


X. Auditing report of internal control

√Applicable   □ Not applicable

                                             Deliberations in Internal Control Audit Report

We consider that, according to relevant regulations and “Basic Rules of Internal Control for Enterprise”, Shenzhen Tellus Holding
Co., Ltd. maintained an efficiency internal control of financial report dated 31 December 2015, in all material aspects.

Disclosure details of audit report of
                                        Disclosure
internal control

Disclosure date of audit report of
                                        2016-04-15
internal control (full-text)

Index of audit report of internal Juchao website http://www.cninfo.com.cn, the website for information disclosure appointed by
control (full-text)                     Shenzhen Stock Exchange

Opinion type of auditing report of
                                        standard without reserved reports
IC

whether the non-financial report
                                        No
had major defects

Carried out modified opinion for internal control audit report from CPA
□Yes √ No
The internal control audit report, issued by CPA, has concerted opinion with self-evaluation report, issued from the Board
√ Yes □ No




                                                                   76
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                                 Section X. Financial Report

I. Audit report

Type of audit opinion                                     Standard unqualified

Date for audited report signed                            2016-04-14

Name of audit institution                                 Ruihua Certified Public Accountants (LLP)

Reference number                                          Ruihua Shen Zi [2016] No.48330005

CPA                                                       Yuan Longping, Qin Changming

                                               Text of Report


To the shareholders of Shenzhen Tellus Holding Company Limited:

We have audited the accompanying financial statements of Shenzhen Tellus Holding Company Limited
(“the Company”), which comprise the consolidated and company balance sheet as at 31 December 2015,
and the consolidated and company income statement, the consolidated and company cash flow statement,
the consolidated and company statements of changes in equity for the year then ended, and notes to these
financial statements
Management’s Responsibility for the Financial Statements
The Company’s management is responsible for the preparation of financial statements that give a true and
fair view. This responsibility includes: (1) Preparing financial statements in accordance with the
Accounting Standards for Business Enterprises. (2) Designing, implementing and maintaining internal
control relevant to the preparation of financial statements that are free from material misstatement,
whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We
conducted our audit in accordance with China’s Auditing Standards for the Certified Public Accountants.
Those standards require that we comply with ethical requirements and plan and perform the audit to
obtain reasonable assurance whether the financial statements are free from material misstatement.
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 judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the entity’s
preparation 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 Company’s
internal control. An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by management, as well as evaluating the overall


                                                    77
                                                                    深圳市特力(集团)股份有限公司 2015 年年度报告全文


       presentation of the financial statements.

       Audit Opinions
       In our opinion, the companys financial statements comply with the Accounting Standards for
       Business Enterprises and present fairly, in all material respects, the financial position of the
       Company as at 31 December 2015, and the results of operations and cash flows of the
       Company for the year then ended.

       II. Financial statements

       Units in Notes of Financial Statements is RMB


       1. Consolidated Balance Sheet

       Prepared by ShenZhen Tellus Holding Co.,Ltd
                                                           2015-12-31
                                                                                                               In RMB

                      Item                             Closing balance                       Opening balance

Current assets:

       Monetary funds                                               159,184,710.93                         80,045,669.65

       Settlement provisions

       Capital lent

       Financial liability measured by fair
value and with variation reckoned into
current gains/losses

       Derivative financial liability

       Notes receivable

       Accounts receivable                                                 562,051.31                          1,373,257.89

       Accounts paid in advance                                           6,454,769.40                         6,981,402.87

       Insurance receivable

       Reinsurance receivables
     Contract reserve of reinsurance
receivable
       Interest receivable                                                 348,833.33

       Dividend receivable

       Other receivables                                                 11,128,001.89                         7,904,999.44

       Purchase restituted finance asset

       Inventories                                                       16,151,336.61                     48,209,026.18

       Divided into assets held for sale
       Non-current asset due within one
year
       Other current assets                                         165,565,445.21                             8,968,278.77


                                                               78
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Total current assets                                  359,395,148.68                        153,482,634.80

Non-current assets:

     Loans and payments on behalf

     Finance asset available for sales                 10,478,985.77                         10,478,985.77

     Held-to-maturity investment                                                                100,000.00

     Long-term account receivable

     Long-term equity investment                      220,180,721.29                        211,270,265.80

     Investment property                               82,100,133.48                         85,083,745.72

     Fixed assets                                     136,583,565.00                        142,849,121.72

     Construction in progress                         279,056,650.35                        122,551,469.97

     Engineering material

     Disposal of fixed asset

     Productive biological asset

     Oil and gas asset

     Intangible assets                                 52,985,273.37                         53,924,233.96
    Expense         on    Research        and
Development
     Goodwill
    Long-term          expenses      to    be
                                                        1,499,006.24                            905,871.01
apportioned
     Deferred income tax asset                         24,488,443.31                         25,678,449.05

     Other non-current asset                            1,900,000.00

Total non-current asset                               809,272,778.81                        652,842,143.00

Total assets                                         1,168,667,927.49                       806,324,777.80

Current liabilities:

     Short-term loans                                                                        74,719,672.00

     Loan from central bank
    Absorbing deposit and interbank
deposit
     Capital borrowed

     Financial liability measured by fair
value and with variation reckoned into
current gains/losses

     Derivative financial liability

     Notes payable

     Accounts payable                                  27,417,068.61                         22,340,922.90

     Accounts received in advance                      11,460,807.66                          9,979,166.89
     Selling     financial        asset    of
repurchase



                                                79
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   Commission               charge       and
commission payable
       Wage payable                                  19,639,738.81                         17,164,185.03

       Taxes payable                                 10,043,901.26                          9,055,093.27

       Interest payable

       Dividend payable

       Other accounts payable                       193,797,786.68                        114,533,081.65

       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
                                                                                          120,700,000.00
year
Other current liabilities

Total current liabilities                           262,359,303.02                        368,492,121.74

Non-current liabilities:

       Long-term loans                                                                    178,597,550.55

       Bonds payable

         Including: preferred stock

                 Perpetual capital
securities

       Long-term account payable                     13,972,779.67                         13,657,490.94

       Long-term wages payable    &ensp