香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。
Zhengzhou Coal Mining Machinery Group Company Limited鄭州煤礦機械集團股份有限公司
（在中華人民共和國註冊成立的股份有限公司）
（股份代碼：00564）
截至2014年6月30日止六個月中期業績公告
鄭州煤礦機械集團股份有限公司（「本公司」）之董事會（「董事會」）謹此宣佈本公 2014 6 30
司及其附屬公司截至 年月 日止六個月之未經審核中期業績。本公告列 2014
載本公司 年中期報告全文，並符合香港聯合交易所有限公司證券上市規則中有關中期業績初步公告附載的資料的要求。
刊載中期業績公告及中期報告
(www.hkexnews.hk)本中期業績公告將刊載於香港聯合交易所有限公司網站 及本 (www.zzmj.com)
公司網站 。
2014 H
本公司 年中期報告將於適當時間寄發予股持有人，並於本公司及香港聯合交易所有限公司網站登載。
承董事會命
鄭州煤礦機械集團股份有限公司主席
焦承堯
2014 8 21
中國，鄭州， 年月 日
於本公告日期，本公司執行董事為焦承堯先生、邵春生先生、向家雨先生、付祖岡先生及王新瑩先生；而獨立非執行董事為李斌先生、高國安先生、駱家駹先生及劉堯女士。
Unaudited Interim Results未經審核中期業績
The board of directors (the “Board”) of Zhengzhou Coal Mining Machinery Group Company Limited (the “Company”)
hereby announces the unaudited operating results of the Company and its subsidiaries (together, the “Group”) for
the six months ended 30 June 2014, together with the operating results for the six months ended 30 June 2013 for
comparison.
鄭州煤礦機械集團股份有限公司（「本公司」）董事會（「董事會」）在此宣佈本公司及其附屬公司（「本集團」）
截至二零一四年六月三十日止六個月期間未經審核的經營結果，連同與截至二零一三年六月三十日止六
個月的經營結果的比較。
Corporate Profile公司簡介
Zhengzhou Coal Mining Machinery Group Company Limited (the “Company”
or “ZMJ”) was incorporated in thePeople’s Republic of China (the “PRC”) on 28
December 2008 as a joint stock company with limited liability. TheCompany’s A Shares
were listed on the Shanghai Stock Exchange on 3 August 2010. The Company was listed
on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) on 5 December
2012.
The Company is a leading comprehensive coal mining and excavating equipment manufacturer
in the PRC. It focuses on the manufacturing and sales of hydraulic roof supports, and is the largest
hydraulic roof support manufacturer in the PRC. The Company is also engaged in the trading of steel
and other raw materials primarily through its wholly-owned subsidiaries. TheCompany’s established
operating history, high quality products, strong research and development capabilities, advanced
manufacturing processes and extensive sales and service network are the keys to its success and enable it
to maintain its leading position in the PRC coal mining and excavating equipment market.
鄭州煤礦機械集團股份有限公司（「本公司」或「公司」或「鄭煤機」）於2008年12月28日在中華人民共和
國（「中國」）註冊成立為股份制有限責任公司。本公司的A股於2010年8月3日在上海證券交易所上市。
本公司於2012年12月5日在香港聯合交易所有限公司（「聯交所」）上市。
本公司為中國領先的煤炭綜採綜掘設備製造商，致力於生產及銷售液壓支架，是中國最大的液壓支架製造
商。本公司亦透過附屬公司從事鋼鐵及其他原料貿易業務。本公司悠久的經營歷史、優質產品、強勁的研
發能力、先進的製造流程及龐大的銷售及服務網絡乃是公司達到成功的關鍵，並使公司能夠維持在中國煤炭
採掘設備市場的領導地位。
Contents目錄
Corporate Information 公司資料
2
Chairman’s Statement 董事長報告書
4
Management Discussion and Analysis 管理層討論與分析
8
Directors, Supervisors and Chief Executives 董事、監事及最高行政人員
14
Change of Share Capital and Shareholder Information 股本變動及股東情況
17
Material Events 重要事項
20
Report on Review of Condensed Consolidated 簡明綜合財務報表審閱報告
21
Financial Statements
Condensed Consolidated Statement of Profit or Loss 簡明綜合損益及其他全面
23
and Other Comprehensive Income 收益表
Condensed Consolidated Statement of Financial Position簡明綜合財務狀況表
24
Condensed Consolidated Statement of Changes in Equity簡明綜合權益變動表
26
Condensed Consolidated Statement of Cash Flows 簡明綜合現金流量表
27
Notes to the Condensed Consolidated Financial Statements簡明綜合財務報表附註
Corporate Information公司資料
Directors 董事
Mr. Jiao Chengyao (Chairman and Executive Director) 焦承堯先生（董事長兼執行董事）
Mr. Shao Chunsheng (Vice Chairman and Executive Director) 邵春生先生（副董事長兼執行董事）
Mr. Xiang Jiayu (Executive Director and General Manager) 向家雨先生（執行董事兼總經理）
Mr. Fu Zugang (Executive Director and Deputy General Manager) 付祖岡先生（執行董事兼副總經理）
Mr. Wang Xinying (Executive Director and Deputy General Manager) 王新瑩先生（執行董事兼副總經理）
Mr. Lin Zhijun (Independent non-executive Director) (resigned on 3 April 2014) 林志軍先生（獨立非執行董事）（於2014年4月3日離任） Mr. Li Bin (Independent non-executive Director) 李斌先生（獨立非執行董事）
Mr. Gao Guoan (Independent non-executive Director) 高國安先生（獨立非執行董事）
Mr. Luo Jiamang (Independent non-executive Director) 駱家駹先生（獨立非執行董事）
Ms. Liu Yao (Independent non-executive Director) (appointed on 5 June 2014) 劉堯女士（獨立非執行董事）（於2014年6月5日獲委任） Supervisors 監事
Mr. Wang Tiehan 王鐵漢先生
Mr. Xu Yongen (resigned on 5 June 2014) 徐永恩先生（於2014年6月5日離任）
Mr. Ding Hui 丁輝先生
Mr. Lv Yu 呂豫先生
Mr. Ni Heping 倪和平先生
Mr. Jia Jingcheng 賈景程先生
Ms. Xu Mingkai 徐明凱女士
Mr. Zhang Zhiqiang (appointed on 5 June 2014) 張志強先生（於2014年6月5日獲委任）
Company Secretary 公司秘書
Mr. Bao Xueliang 鮑雪良先生
Ms. Chan Yin Wah (Assistant to Company Secretary) 陳燕華女士（公司秘書助理）
Strategy Committee 戰略委員會
Mr. Jiao Chengyao (Chairman) 焦承堯先生（主席）
Mr. Shao Chunsheng 邵春生先生
Mr. Xiang Jiayu 向家雨先生
Mr. Wang Xinying 王新瑩先生
Mr. Luo Jiamang 駱家駹先生
Audit Committee 審計委員會
Mr. Li Bin (Chairman) 李斌先生（主席）
Mr. Luo Jiamang 駱家駹先生
Ms. Liu Yao 劉堯女士
Nomination Committee 提名委員會
Mr. Gao Guoan (Chairman) 高國安先生（主席）
Mr. Jiao Chengyao 焦承堯先生
Mr. Luo Jiamang 駱家駹先生
Remuneration and Assessment Committee 薪酬與考核委員會
Mr. Luo Jiamang (Chairman) 駱家駹先生（主席）
Mr. Shao Chunsheng 邵春生先生
Mr. Li Bin 李斌先生
Authorized Representatives 授權代表
Mr. Jiao Chengyao 焦承堯先生
Mr. Bao Xueliang 鮑雪良先生
Legal Advisers 法律顧問
As to Hong Kong and United States laws: 香港及美國法律：
Clifford Chance 高偉紳律師行
As to PRC law: 中國法律：
Zhong Lun Law Firm 中倫律師事務所
2
Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Corporate Information公司資料
Auditors 核數師
International auditors: 國際：
Deloitte Touche Tohmatsu 德勤•關黃陳方會計師行
35th Floor, One Pacific Place 香港
88 Queensway 金鐘道88號
Hong Kong 太古廣場一期35樓
Domestic auditors: 境內：
BDO CHINA SHU LUN PAN 立信會計師事務所（特殊普通合夥）
Certified Public Accountants LLP 上海市南京東路61號4樓
4th Floor, Nanjing East Road No. 61, Shanghai, 200002 郵編：200002
Principal Place of Business in Hong Kong 香港主要營業地點
18/F Tesbury Centre, 28Queen’s Road East, Wanchai, Hong Kong 香港灣仔皇后大道東28號金鐘匯中心18樓
Registered Office in the PRC 中國註冊辦事處
No. 105, Huashan Road, Zhengzhou 中國
Henan Province 河南省
PRC 鄭州市華山路105號
Headquarters in the PRC 中國總辦事處
No. 167, 9th Street 中國
Econ-Tech Development Zone, Zhengzhou 河南省
Henan Province 鄭州市經濟技術開發區
PRC 第九大街167號
Company’s Website 公司網站
www.zzmj.com www.zzmj.com
H Share Registrar H股股份登記處
Computershare Hong Kong Investor Services Limited 香港中央證券登記有限公司
Shops1712–1716, 17th Floor 香港灣仔
Hopewell Centre 皇后大道東183號
183Queen’s Road East 合和中心
Wanchai, Hong Kong 17樓1712–1716室
A Share Registrar A股股份登記處
Shanghai Branch of China 中國證券登記結算有限責任公司
Securities Depository and Clearing Corporation Limited 上海分公司
36/F, China Insurance Building 上海市
No. 166 Lujiazui East Road, Pudong New District 浦東新區陸家嘴東路166號
Shanghai 中國保險大廈36樓
Stock Code 股份代碼
H Share: 00564 H股00564
A Share: 601717 (Shanghai Stock Exchange) A股60171（7上海證券交易所）
Principal Banks 主要往來銀行
Industrial and Commercial Bank of China 中國工商銀行
Jianshe Road Branch, Zhengzhou 鄭州市建設路支行
No. 11 West Jianshe Road, Zhengzhou 中國
Henan Province 河南省
PRC 鄭州市建設西路11號
Bank of China 中國銀行
Longxi Branch, Zhengzhou 鄭州市隴西支行
No. 62 Huaihe Road, Zhengzhou 中國
Henan Province 河南省
PRC 鄭州市淮河路62號
Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Chairman’s Statement董事長報告書
Dear Shareholders, 各位股東：
Review of the First Half Year 上半年回顧
For the six months ended 30 June 2014, the Group realized revenue of 截至二零一四年六月三十日止六個月期間，本集團實 RMB3,182.58 million, representing a decrease of15.75% as compared with 現營業收入人民幣3,182.58百萬元，較上年度同期下降 the corresponding period of last year. Net profit was RMB247.73 million, 15.75%；實現淨利潤人民幣247.73百萬元，較上年度 representing a decrease of53.18% as compared with the corresponding 同期下降53.18%；實現每股盈利人民幣0.15元。於二 period of last year. Earnings per share was RMB0.15. As at 30 June 2014, the 零一四年六月三十日，本集團銀行貸款餘款為人民幣 outstanding bank borrowing of the Group amounted to RMB98.45 million. 98.45百萬元。
Major efforts made during the first half of 2014 二零一四年上半年的主要工作
(1) Promoting new mode of market development: In line with the market (1)推廣市場開發新模式：順應市場，本集團提出了 development, the Group proposed the operation target whereby the Group 「創新和引領煤機市場營銷模式，借助國內外合作 will “innovate and lead in the sales modes in coal mining machinery 夥伴、資本平台、金融機構的力量，延伸產業鏈， industry. With the support of domestic and overseas partners, as well as 由單一生產制造型企業向生產製造+生產服務型企 capital platform and financial institutions, the Group aims at transforming 業轉變」的經營方針。本集團在行業內率先提出並 itself from a production enterprise into an operation and production service 實踐、推廣了「全壽命管理、一體化服務模式」、 enterprise by extending its industry chain.” The Group was a pioneer in the 「煤礦工程總包、帶設備達產全過程服務模式」、 industry in proposing, implementing and promoting new business models 「融資租賃模式」等新的商業模式，收到良好效果。
including “life-long management and integrated service mode”, “coal- 二零一四年上半年，採用新模式運作的項目近20 mining project general contracting, full process service with equipment 個，不僅滿足了用戶多樣化需求，而且在異常嚴峻 delivery mode”, “finance lease mode”, and attained sound results. In the 的市場競爭情況下，穩固了市場地位。據統計，本 first half of 2014, nearly 20 projects were operated under the new modes. 集團上半年液壓支架中標噸位佔市場招議標總量的 Not only were the diversified customer requirements satisfied, the Group 42.9%，中標金額佔招議標總量的42.6%，居行業首 also consolidated its market position amid an exceptionally difficult market 位。
competition. Statistics showed that theGroup’s successful bidding in
respect of hydraulic roof supports in the first half of the year accounted for
42.9% of the total tendered production volume on the market, and42.6%
in terms of monetary amounts, ranking No. 1 on the market.
(2) In respect of technological research and development, the Group continued (2)技術研發方面：繼續秉承「技術創新引領市場，技 to adhere to the notion of “leading the market and creating the market 術創新創造市場」理念。報告期內，完成8米以上超 by means of technological innovations”. During the reporting period, 大採高、極薄煤層產品、沿空留巷充填等技術儲 the Group completed the technology reservation of ultra mining height 備；研發新一代智能化、自動化膏體充填技術領 hydraulic roof support of over eight meters, workplace equipment for 域，搶佔了充填液壓支架市場先機。
ultra-thin coal seam and filling by gob-side entry retention. Research and
development were conducted on new-generation intelligent and automated
paste backfilling technology and took the lead in tapping the market of
backfilling hydraulic roof supports.
(3) Operation and management: Starting from 2014, the Group implemented (3)經營管理方面：二零一四年開始，本集團對內部各 its internal simulated corporate management to the production units, by 生產單位實行模擬法人管理，推行內部市場化運作 enforcing market-driven internal operation and assessment, combining 考核方式，將成本管理與經濟效益考核相結合。通 the assessment of cost management and economic efficacy. Through the 過實行模擬法人管理方式，讓成本管控從「靜態控 implementation of simulated corporate management, cost control was 制」變為「動態控制」，形成全員、全過程、全方位 transformed from a “static control” to a “dynamic control” mode, forming 的成本管控格局，本集團上半年噸生產成本同比下 a cost control structure covering all staff, all processes and all aspects, 降5.95%。
thereby reducing the production costs of the Group for the first half of the
year by5.95% year-on-year.
4
Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Chairman’s Statement董事長報告書
(4) Mergers and acquisitions and transformation: During the reporting period, (4)併購轉型方面：報告期內，對工業自動化裝備製造 the Group made intensive study in three major aspects namely automated （中厚板焊接機器人）、LNG及其裝備、煤礦及煤機 industrial manufacturing (medium-thick robotic welding technology), 設備等三個主要領域進行深入調研，尋找合適的目 LNG and its related equipment, and coal-mining and coal machinery 標企業，洽談合作切入點，部分項目有望進入實質 equipment. It sought to identify suitable targeted enterprises for discussing 性談判階段。
areas of cooperation. Some of the projects are expected to enter the stage
of concrete negotiations.
Outlook 前景展望
As a state-owned enterprise of strong brand, the Company managed to flourish 作為一家老牌國有企業，在經過行業調整期後能夠再次 after the industrial adjustment period under the macroeconomic policies on 煥發青春，受宏觀政策的影響，更為重要的是找到了能 the one hand and more importantly riding on its ability to identify the vitalizing 夠激發企業活力的源泉，本公司的生命力源自順應潮 sources for the energetic operation of the corporation, which is theCompany’s 流、貼近市場、融入市場。當前，面對新一輪的行業調 ability in following market trend, keeping itself abreast of market development 整期，本公司依然不會沉淪，順勢深化體制機制改革、 and integrating market needs. At present, facing the new round of industrial 探索商業模式創新、主導行業格局調整、拓展新業務領 adjustment period, the Company is going to stand firmly and has already got 域、精益企業經營管理是已經繪就的發展路徑。
a roadmap for its development, namely following the trend in forging ahead
with its intensified reforms of structures, exploring innovative business models,
leading adjustment in industrial landscape, exploring new business areas and
refining corporate operation and management.
(1) Riding on the waves of reforms of state-owned （一）借力國企改革浪潮，深化企業體制機 enterprises to intensify the reform of corporate 制改革，釋放企業發展活力，實現國 structure, release the energy for corporate development, 有資產的保值增值
and achieve the preservation and appreciation of state-
owned assets
The Company has insisted on exploring and attempting to maintain a 本公司一直堅持探索和嘗試保持企業永續創新能力 system which enables the perpetual innovation capability of a corporation, 的體制，將股權多元化作為企業中長期發展戰略的 and has identified shareholding diversification as an important element of 重要環節。經過二零零二年、二零零六年的兩次改 the mid-term to long-term development strategies of the corporation. After 制和二零零八年轉讓職工股完成股份制改造，本公 the restructuring in 2002 and 2006 and the shareholding restructuring in 司優化完善了股權結構，並先後於二零一零年登陸 respect of transfer of employee-held shares in 2008, the Company has 上海交易所主板、二零一二年登陸香港聯交所主 optimized its shareholding structure and has become listed on the main 板，實現了國有股權的保值增值。
board of the Shanghai Stock Exchange in 2010, the main board of the
Hong Kong Stock Exchange in 2012, thereby achieving the preservation
and appreciation of state-owned shareholdings.
In future, the Company will conduct in-depth study on the new directions 未來，本公司將深入領會十八屆三中全會關於公有 of the Third Plenary Session of the Eighteenth Central Committee of the 制經濟和國有企業改革的新方向，借助國有資本、 Community Party of China regarding public sector of the economy and 國有企業改革的新浪潮，引進戰略合作夥伴，在產 state-owned enterprises reform. Leveraging on the new trend of state- 權制度改革、職業經理人制度推廣、激勵制度的完 owned capital and state-owned enterprises reform, the Company will 善等方面做更深入的探索和實踐。
seek to introduce strategic partners for cooperation, and conduct more
intensified exploration and implementation in the reform of the ownership
system, promotion of professional manager system, and improvement of
incentive system.
Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Chairman’s Statement董事長報告書
(2) Attaining alliance of strong players in the industry and （二）實現行業內強強聯合，主導行業格局 leading adjustment of industry landscape 調整
Under the current difficult conditions facing the coal industry, the coal 當前，煤炭行業形勢嚴峻，煤機市場萎縮且市場份 mining machinery industry is shrinking and market shares are shifting 額越來越集中到領軍企業手中。煤機市場由「單機 towards leading enterprises. It is gradually becoming clear that market 製造」轉向「成套裝備」的競爭態勢，大型化、智能 competition in the coal mining machinery industry will gradually shift from 化以及成套化裝備將成為未來發展趨勢日漸明朗。
“single machine manufacturing” to “comprehensive equipment”, and that
manufacturing large, intelligent and comprehensive equipment will become
the future trend of development.
Integration of the industry is bound to happen, and attaining alliance 行業整合勢在必行，實現強強聯合是推進行業發展 of strong players in the industry is an inevitable approach to fostering 的必然途徑。為在新的競爭格局中佔據主導地位及 industry development. In order to capture a leading position in a new 為下一輪經濟增長做好準備，本集團在二零一三年 competitive landscape, and to get well prepared for the next round of 即確定了通過資本途徑整合行業優勢企業，掌握行 economic growth, the Group has identified the development strategies 業話語權、定價權，主導行業格局調整的發展戰 of integrating advantageous enterprises in the industry through capital 略。立足國內煤機行業，瞄準國際煤機行業的優質 approach, grasping stronger rights of expression and pricing, and leading 資源整合，積極探索行業整合，是本集團洗牌煤機 adjustments of industry landscape in 2013. With its foothold set in the 行業、實現行業重組整合的良好機遇，未來本集團 domestic coal machinery industry, targeting high-quality resources of 將繼續關注、爭取和把握該方面的機會。
the international coal machinery industry for resources integration and
proactive exploration for potential sector integration represent good
opportunities for reshuffling, reorganization and integration of the industry.
Going forward, the Group will continue to pay attention to, seek for and
grasp opportunities in that aspect.
(3) Continuing to promote innovation of business models （三）繼續推廣商業模式創新
Since the second half of 2013 when the Group started to promote its 自二零一三年下半年本集團推廣新商業模式以來， new business models, strong responses have been received from the 受到了市場強烈的回應。到目前為止，本集團以新 market. To date, the total orders taken under the new model amount 模式收入囊中的訂單總額共計約人民幣1,240百萬 to approximately RMB1,240 million, those under negotiations amount 元，正在洽談的約有人民幣120百萬元，近期潛力 to RMB120 million, and those markets with recent potential amount to 市場約有人民幣900百萬元。推廣新的商業模式， approximately 900 million. The promotion of new business model has 對於本集團收穫的不僅是當下的市場，還緊密了與 not only captured market for the Group now, but also fostered closer 煤炭企業的合作關係，鎖定了未來5年內的備件、 working relationship with coal enterprises and secured the market of 大修服務市場，而且還開創了穩定的貨款回收方 spare part supplies and overhauling services in the next 5 years, but also 式，而對於煤炭企業也獲得了專業化的服務，大幅 innovated upon a stable approach to collecting trade receivables. For coal 降低運營成本，提高了效率。鑒於新模式擁有合作 enterprises, they have in turn enjoyed professional services, substantial 雙方雙贏的優點，本集團將再接再厲，在商業模式 drop in operating costs and uplifted efficiency. In light of the win-win 創新方面做好功夫、做足功夫。
situation offered under the new model, the Group will keep on striving for
better and more comprehensive innovations in business models.
6
Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Chairman’s Statement董事長報告書
(4) Continuing to strengthen exploration of areas other than （四）繼續強化煤機行業之外領域的探索 the coal machinery industry
To “expand from coal machinery industry to sectors such as new energy 「跨出煤機行業，向新能源裝備、智能化裝備領域 equipment and intelligent equipment so as to explore opportunities 拓展，尋找支撐企業發展的新機遇」是本集團現階 for supporting its corporate development” are important missions for 段的重要工作。過去一段時間，本集團在LNG及相 the Group at this stage. The Group has made intensive exploration 關技術與裝備、中厚板及特種鋼材的智能焊接機器 and practices in aspects such as LNG and its related technologies and 人技術、智能化工業生產綫等領域進行了深入探索 equipment, medium-thick and special steel robotic welding technology 和實踐，做了大量的調研和準備工作，並與目標企 and intelligent industrial production line technology over a period of time. 業進行了接洽，部分項目有望進入實質性談判階 The Group has conducted massive research and preparation work and 段。
contacted targeted enterprises. Some of the projects are expected to enter
the stage of concrete negotiations.
(5) Continuing to intensify corporate management and （五）繼續深化企業管理及內部改革 internal reform
There is always room for improvement in streamlined management. 精益管理永無止境，不斷探索、實踐、創造更加貼 Ongoing exploration, implementation and creation of notions of operations 近市場規律的運作管理理念和改革舉措是本集團做 and management and reform initiatives which are close to market 強做大的有力保證。未來，本集團將繼續堅持現有 development are all strong guarantee for theGroup’s growth in terms 的好的做法、持續管理創新：繼續優化產品設計方 of size and strength. In future, the Group will continue to adhere to the 案考核，優化工藝佈局、提升工藝手段；繼續創新 existing good practices and ongoing management innovations. It will 回款方式，加大回款力度；堅持中層幹部、高管的 continue to optimize the assessment of proposals of product designs, 「四制」管理；繼續實踐貼近市場運作規律的內部市 optimize deployment of processes and enhance approaches of processes. 場化考核機制，提升企業整體運營質量。
It will also continue to innovate upon approaches to collecting trade
receivables and step up efforts in such collection. The Group will stick to
the “four-level” management system of middle-level management staff
and senior management. It will also continue to implement market-driven
internal assessment mechanism close to market development to enhance
the overall quality of operation of the enterprise.
Regarding business development in the second half of 2014, the Group 在業務發展方面，本集團於2014年下半年將更加深 will conduct more intensive and more thorough internal assessment 入、全面地進行以「效益」為核心的內部考核管理方 management with “efficiency” as the core notion, optimize production 式，優化生產管理方式，嚴格管控成本，提高運營 management, strictly control costs and enhance quality of operation. With 質量。本集團將著力拓展國際市場，完成北美子公 a focus on expanding its international market, the Group will complete 司的註冊並投入運營，鞏固本集團在俄羅斯、土耳 registration and start operation of its subsidiaries in North America, 其、印度等市場的優勢地位，重點進軍美國、澳大 consolidate its advantageous position in markets including Russia, Turkey 利亞、越南等新市場，開辟新的利潤增長源。
and India, push ahead its expansion into targeted new markets including
the U.S., Australia and Vietnam, and exploring new areas for profit growth.
Jiao Chengyao 焦承堯
Chairman 董事長
Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Management Discussion and Analysis管理層討論與分析
Overview 概覽
The Group is a leading comprehensive coal mining and excavating equipment 作為中國領先的煤炭綜採綜掘設備製造商，本集團悠久 manufacturer in the PRC. Our established operating history, high quality 的經營歷史、優質產品、強勁的研發能力、先進的製造 products, strong in-house research and development capabilities, advanced 流程及龐大的銷售及服務網絡乃是我們達到成功的關 manufacturing processes and extensive sales and service network are the keys 鍵，並使我們能夠維持在中國煤炭採掘設備市場的領導 to our success and allow us to maintain our leading position in the PRC coal 地位。本集團的產品及業務主要包括：(i)液壓支架；(ii) mining and excavating equipment market. TheGroup’s products and businesses 鋼鐵及其他原料貿易；(iii)配件；及(iv)其他採煤設備。
primarily include: (i) hydraulic roof supports; (ii) steel and other raw materials
trading; (iii) spare parts; and (iv) other coal mining equipment.
Results of Operations 經營業績
The following table sets forth a summary, for the six months ended 30 June 下表載列本集團於二零一四年六月三十日止六個月的綜 2014 indicated, of our consolidated results of operations. 合經營業績摘要。
Six months ended 30 June截至六月三十日止六個月 2014 2013二零一四年 二零一三年RMB’million RMB’million人民幣百萬元 人民幣百萬元 Revenue 收入 3,182.58 3,777.64 Cost of sales 銷售成本 (2,569.45) (2,823.93) Gross profit 毛利 613.12 953.70 Other income 其他收入 48.84 48.06 Other gains and losses 其他收益及虧損 (90.88) (21.97) Selling and distribution expenses 銷售及分銷開支 (96.69) (123.29) Administrative expenses 行政開支 (148.11) (156.31) Research and development expenses 研發開支 (43.01) (68.64) Share of profit of associates 應佔聯營公司溢利 6.93 3.90 Share of loss of joint ventures 應佔合營企業虧損 (0.03) (0.01) Finance costs 融資成本 (0.99) (1.50) Profit before tax 除稅前溢利 289.19 633.94 Income tax expense 所得稅開支 (41.46) (104.83) Profit for the period 期內溢利 247.73 529.12 Other comprehensive income (expense) 其他全面收入（開支）
Items that may be reclassified subsequently to profit or loss: 可能於其後重新分類至損益
之項目：
Fair value loss on available-for-sale financial assets 可供出售之金融資產公平值虧損 (17.48) – Exchange differences arising on translation 換算產生之匯兌差額 0.03 – Other comprehensive expense for the period, 期內其他全面開支，扣除所得稅
net of income tax (17.45) –
Total comprehensive income for the period 期內全面收入總額 230.28 529.12
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Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Management Discussion and Analysis管理層討論與分析
Results of Operations
(Continued) 經營業績（續）
Six months ended 30 June截至六月三十日止六個月 2014 2013二零一四年 二零一三年RMB’million RMB’million人民幣百萬元 人民幣百萬元 Profit for the period attributable to: 以下人士應佔期內溢利：
Owners of the Company 本公司股東 247.96 535.70 Non-controlling interests 非控股權益 (0.22) (6.58) 247.73 529.12 Total comprehensive income for the period attributable to: 以下人士應佔期內全面收入總額：
Owners of the Company 本公司股東 230.50 535.70 Non-controlling interests 非控股權益 (0.22) (6.58) 230.28 529.12 EARNINGS PER SHARE 每股盈利
– Basic and diluted (RMB) －基本及攤薄（人民幣元） 0.15 0.33 Revenue 收入
During the six months ended 30 June 2014, theGroup’s revenue decreased by 本集團收入自截至二零一三年六月三十日止六個月的人15.75% to RMB3,182.58 million from RMB3,777.64 million for the six months 民幣3,777.64百萬元減少15.75%至截至二零一四年六月 ended 30 June 2013, mainly because the situation of supply and demand in 三十日止六個月的人民幣3,182.58百萬元，主要是二零 domestic coal market changed substantially in 2014, resulting in the decreased 一四年國內煤炭市場供需形勢發生較大變化，令國內市 demand for theGroup’s products in the domestic market and thus causing the 場對集團產品需求有所減少導致集團液壓支架的收入下 decline of revenue of theCompany’s hydraulic roof supports. 降所致。
Cost of Sales 銷售成本
Due to the decrease of theGroup’s revenue, our cost of sales decreased by 由於本集團收益有所下降，本集團銷售成本由截至二零9.01% from RMB2,823.93 million for the six months ended 30 June 2013 to 一三年六月三十日止六個月的人民幣2,823.93百萬元減 RMB2,569.45 million for the six months ended 30 June 2014. 少9.01%至截至二零一四年六月三十日止六個月的人民幣2,569.45百萬元。
Gross Profit 毛利
In light of the above factors, our gross profit decreased by35.71% from 基於上述原因，本集團的毛利由截至二零一三年六月 RMB953.70 million for the six months ended 30 June 2013 to RMB613.12 三十日止六個月的人民幣953.70百萬元減少35.71%至截 million for the six months ended 30 June 2014. 至二零一四年六月三十日止六個月的人民幣613.12百萬元。
Due to the increasing competition in the market, our gross profit margin 由於市場競爭繼續加劇，而本集團的毛利率由截至二零 decreased from25.25% for the six months ended 30 June 2013 to19.26% for 一三年六月三十日止六個月25.25%下降至截至二零一四 the six months ended 30 June 2014. 年六月三十日止六個月19.26%。
Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Management Discussion and Analysis管理層討論與分析
Staff Costs and Remuneration Policy 員工成本及員工薪酬政策
Our staff costs increased by3.23% from RMB223.67 million for six months 本集團員工成本自截至二零一三年六月三十日止六個月 ended 30 June 2013 to RMB230.89 million for six months ended 30 June 的人民幣223.67百萬元增加3.23%至截至二零一四年六 2014, primarily as a result of the slight increase of average staff salary, which 月三十日止六個月的人民幣230.89百萬元，主要由於僱 was in line with the increasing labour cost in China. The staff remuneration of 員的平均薪金略有增加，此與中國勞工成本上升相符。
the Group comprises of basic salary and bonus payment, which is determined 本集團員工薪酬由基本工資和獎勵工資兩部分組成，獎 with reference to the operating results of the Group and results of performance 勵工資依據本集團業績及績效考核情況確定。本集團堅 assessment on the employees. The Group insisted the orientation towards 持以效益和業績為導向，堅持向一綫員工傾斜，努力確 efficiency and results as well as the focus on front-line staff. It also strived to 保收入分配科學合理。
ensure scientific and reasonable allocation of income.
Profit Before Tax 除稅前溢利
In view of the combined effect of the above, our profit before tax decreased by 受前述因素之綜合影響，本集團的除稅前溢利自截至二54.38% from RMB633.94 million for the six months ended 30 June 2013 to 零一三年六月三十日止六個月的人民幣633.94百萬元減 RMB289.19 million for the six months ended 30 June 2014. 少54.38%至截至二零一四年六月三十日止六個月的人民幣289.19百萬元。
Income Tax Expense 所得稅開支
Our income tax expense decreased by60.45% from RMB104.83 million for 本集團的所得稅開支自截至二零一三年六月三十日止六 the six months ended 30 June 2013 to RMB41.46 million for the six months 個月的人民幣104.83百萬元減少60.45%至截至二零一四 ended 30 June 2014, primarily due to the decrease of our taxable revenue. Our 年六月三十日止六個月的人民幣41.46百萬元，主要是 effective tax rate decreased from16.54% for the six months ended 30 June 由於本集團的應課稅收入減少。本集團的實際所得稅率 2013 to14.34% for the six months ended 30 June 2014. 自截至二零一三年六月三十日止六個月的16.54%下降至截至二零一四年六月三十日止六個月的14.34%。
Profit for the Period 期內溢利
In view of the combined effect of the above, our profit for the period decreased 受前述因素之綜合影響，本集團年內溢利由截至二零 by53.18% from RMB529.12 million for the six months ended 30 June 2013 to 一三年六月三十日止六個月的人民幣529.12百萬元下降 RMB247.73 million for the six months ended 30 June 2014. 53.18%至截至二零一四年六月三十日止六個月的人民幣247.73百萬元。
Cash Flows and Capital Expenditures 現金流及資本支出
As at 30 June 2014, the Group had RMB1,563.48 million in cash and cash 於二零一四年六月三十日，本集團擁有現金及現金等價 equivalents. TheCompany’s cash and cash equivalents primarily consist of cash 物人民幣1,563.48百萬元。本集團現金及現金等價物主 and bank deposits. 要包括現金及銀行存款。
10
Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Management Discussion and Analysis管理層討論與分析
Cash Flows and Capital Expenditures
(Continued) 現金流及資本支出（續）
Six Months ended 30 June截至六月三十日止六個月 2014 2013二零一四年 二零一三年RMB’million RMB’million人民幣百萬元 人民幣百萬元 Net cash from (used in) operating activities 經營活動所得（所用）現金淨額 122.15 (352.62) Net cash (used in) from investing activities 投資活動（所用）所得現金淨額 (588.76) (415.55) Net cash (used in) from financing activities 融資活動（所用）所得現金淨額 (19.49) (286.96) Net (decrease) increase in cash and cash equivalents 現金及現金等價物（減少）增加
淨額 (486.10) (1,055.14) Effect of foreign exchange rate changes 滙率變動之影響 3.15 (16.72) Cash and cash equivalents at the beginning of period 期初的現金及現金等價物 2,046.43 3,598.82 Cash and cash equivalents at the end of period 期末的現金及現金等價物 1,563.48 2,526.96 Operating Activities 經營活動
Net cash from operating activities for the six months ended 30 June 2014 was 截至二零一四年六月三十日止六個月，經營活動收到現 RMB122.15 million, primarily from the deduction from or addition to profit before 金淨額為人民幣122.15百萬元，主要是從稅前利潤人民 tax of RMB289.19 million of the following items: (i) an increase in trade and other 幣289.19百萬元中扣減或增加以下項目所產生：(i)貿易 receivables of RMB392.11 million; and (ii) an increase in trade and other payables of 及其他應收款項增加人民幣392.11百萬元；(ii)貿易及其 RMB282.43 million. 他應付款項增加人民幣282.43百萬元。
Investing Activities 投資活動
Net cash used in investing activities for the six months ended 30 June 2014 was 截至二零一四年六月三十日止六個月，投資活動所用現 RMB588.76 million, comprising primarily: (i) payment of RMB905 million from 金淨額為人民幣588.76百萬元，主要包括：(i)因購買短 the purchase of short-term structured deposits with banks; (ii) receipt of proceeds 期結構性銀行存款而支付款項人民幣905百萬元；(ii)因 of RMB545.76 million from the disposal of short-term structured deposits; (iii) 出售短期結構性銀行存款而收取所得款項人民幣545.76 payment of RMB369.24 million for the purchase of bonds issued by Sun Hung Kai 百萬元；(iii)因購買Sun Hung KaiBVI發行的債券而支付款 BVI; (iv) withdrawal of bank deposits with an original maturity of over three months 項人民幣369.24百萬元；(iv)提取三個月以上的銀行存款 of RMB300 million; (v) payment for pledged bank deposits of RMB224.49 million, 而取得人民幣300百萬元；(v)支付已抵押銀行存款人民 for the issuance of bank notes that we used to purchase raw materials; and (vi) 幣224.49百萬元，藉以發出用作購買原料的銀行票據；
withdrawal of pledged bank deposits of RMB157.20 million. 及(vi)提取已抵押銀行存款人民幣157.20百萬元。
Financing Activities 融資活動
Net cash used in financing activities for the six months ended 30 June 2014 was 截至二零一四年六月三十日止六個月，融資活動所用現 RMB19.49 million, consisting primarily of partial payment for bank borrowings of 金淨額為人民幣19.49百萬元，主要系支付部分銀行借 RMB38.5 million, partially offset by the capital contribution in the amount of RMB20 款38.5百萬元，部分因取得河南省財政廳資本性投入20 million from Henan Finance Office. 百萬元而抵銷。
Capital Expenditures 資本支出
The Group incurred capital expenditures of RMB118.01 million during the six months 截至二零一四年六月三十日止六個月，本集團用於購買 ended 30 June 2014, for purchase of property, plant and equipment, intangible 物業、廠房及設備、無形資產以及預付租賃費的資本支 assets and lease prepayments. 出為人民幣118.01百萬元。
Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Management Discussion and Analysis管理層討論與分析
Commitments and Contingent Liabilities 承擔及或然負債
Capital Commitments 資本承擔
As at 30 June 2014, our capital commitments consisted of capital commitments 於二零一四年六月三十日，本集團承擔包括已授權且已 that had been authorized and contracted for in the amount of RMB23.81 million and 訂約的資本承擔人民幣23.81百萬元及已授權但未訂約 capital commitments that had been authorized but not contracted for in the amount 的資本承擔人民幣25.91百萬元。
of RMB25.91 million.
Contingent Liabilities 或然負債
The Group has endorsed and derecognized certain bills receivable for the settlement 本集團以背書及終止確認若干應收票據之方式結算具全 of trade and other payables with full recourse. In the opinion of the directors of the 面追索之貿易及其他應付款項。本公司董事認為，由於 Company, the risk of the default in payment of the endorsed bills receivable is low 所有背書之應收票據乃由聲譽良好之中國銀行發出及提 because all endorsed bills receivable are issued and guaranteed by the reputable 供擔保，故欠付背書之應收票據之風險不大。於二零 PRC banks. As at 30 June 2014, the maximum exposure to the Group that may 一四年六月三十日，本集團可能因欠付該等背書及取消 result from the default of these endorsed and derecognized bills receivable was 確認之應收票據而須承擔之最大風險為1,406.72百萬元。
RMB1,406.72 million.
Working Capital and Indebtedness 營運資金及負債
The following table sets forth details of our current assets and liabilities as at 30 下表載列於二零一四年六月三十日本集團流動資產及負 June 2014 (in RMB millions): 債詳情（單位：人民幣百萬元）：
30 June 2014 31 December 2013二零一四年 二零一三年六月三十日十二月三十一日 Current Assets 流動資產
Prepaid lease payments 預付土地租賃款項 8.66 8.66 Inventories 存貨 1,745.62 1,639.36 Loan receivables from an associate 應收聯營公司貸款 80.00 50.00 Trade and other receivables 貿易及其他應收款項 4,970.46 4,675.44 Other financial assets 其它金融資產 1,005.00 655.82 Tax recoverable 可收回稅項 16.15 9.80 Pledged bank deposits 已抵押銀行存款 361.71 294.41 Bank balances and cash 銀行結餘及現金 1,873.48 2,656.43 10,061.08 9,989.92 Current Liabilities 流動負債
Trade and other payables 貿易及其他應付款項 2,774.07 2,223.41 Advances from customers 客戶按金 566.25 562.49 Tax liabilities 稅項負債 2.26 26.82 Borrowings 借貸 98.45 136.05 3,441.02 2,948.77 Net Current Assets 流動資產淨值 6,620.06 7,041.16
12
Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Management Discussion and Analysis管理層討論與分析
Working Capital and Indebtedness
(Continued) 營運資金及負債（續）
TheGroup’s net current assets decreased from RMB7,041.16 million as at 31 本公司流動資產淨額自二零一三年十二月三十一日的人 December 2013 to RMB6,620.06 million as at 30 June 2014, primarily due to the 民幣7,041.16百萬元減少至二零一四年六月三十日的人 increase in account payable and other payables. 民幣6,620.06百萬元主要是由於應付賬款及其他應付款增加。
As at 30 June 2014, our outstanding borrowings, which wholly consist of short-term 於二零一四年六月三十日，本公司未償還借款（全部為 bank borrowings, amounted to RMB98.45 million. There are no material financial 短期銀行貸款）為人民幣98.45百萬元，無有關未償還借 covenants relating to our outstanding bank borrowings. 款的重大財務限制條款。
Capital Adequacy Ratio 資本充足比率
30 June 2014 31 December 2013二零一四年 二零一三年六月三十日十二月三十一日 Gearing ratio 資產負債比率 1.0% 1.4% Gearing ratio is calculated by dividing the total interest-bearing liabilities at 資產負債比率乃按期╱年末計息負債總額除以期╱年末 the end of the period/year by total equity at the end of the period/year and 權益總額，再乘100%計算。就我們的情況，計息負債 multiplying by100%. In our case, interest-bearing liabilities include only our 僅包括我們的計息借貸。
interest-bearing borrowings.
Our gearing ratio decreased from1.4% as of 31 December 2013 to1.0% as of 我們的資產負債比率由二零一三年十二月三十一日的 30 June 2014, primarily as a result of the partial repayment of borrowings. 1.4%下降至二零一四年六月三十日的1.0%，主要由於本年償還了部分借款所致。
Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Directors, Supervisors and Chief Executives董事、監事及最高行政人員 Change in information of Directors, Supervisors and 董事、監事及最高行政人員資料變化 Chief Executives
Change of Independent Non-executive Director 更換獨立非執行董事
Mr. Lin Zhijun tendered his resignation as an independent non-executive 林志軍先生因個人工作事務辭任本公司之獨立非執行董 director and a member of the audit committee of the Company with effect from 事及審核委員會成員之職務，自二零一四年四月三日起 3 April 2014 due to personal work commitments. Following the approval by the 生效。經股東於二零一四年六月五日舉行之股東周年大 Shareholders at the annual general meeting held on 5 June 2014 (the “AGM”), 會上（「股東周年大會」）批准後，劉堯女士於二零一四年 with effect from 5 June 2014, Ms. Liu Yao was appointed an independent non- 六月五日獲委任為本公司獨立非執行董事，並於二零 executive director of the Company. Ms. Liu Yao was appointed a member of the 一四年六月二十六日獲委任為審核委員會成員。
audit committee on 26 June 2014.
Change of Supervisor 更換監事
Mr. Xu Yongen tendered his resignation to the Supervisory Committee of the 徐永恩先生因個人工作事務向本公司監事會提出辭呈， Company due to personal work commitments and resigned as a supervisor 自二零一四年六月五日起生效。經股東於股東週年大會 of the Company with effect from 5 June 2014. Following the approval by the 上批准後，張志強先生於二零一四年六月五日獲委任為 Shareholders at the AGM, Mr. Zhang Zhiqiang was appointed a supervisor of 本公司監事。
the Company with effect from 5 June 2014.
Save as disclosed above, for the six months ended 30 June 2014 (the “Review 除上文所披露外，本公司於截至二零一四年六月三十日 Period”), there is no change in information of Directors, Supervisors and Chief 止六個月期間（「回顧期間」）概無董事、監事、最高行政 Executives of the Company. 人員資料變化。
Model Code for Securities Transactions by Directors 董事、監事進行證券交易的標準守則 and Supervisors
The Company has adopted the Model Code for Securities Transactions by 本公司已採納香港聯合交易所有限公司證券上市規則 Directors of Listed Companies (“Model Code”) set out in Appendix 10 of the （「聯交所上市規則」）附錄十所載《上市發行人董事進行 Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong 證券交易的標準守則》（「標準守則」），作為公司有關董 Limited (the “Listing Rules of the Stock Exchange”) as its code of conduct 事、監事證券交易的行為守則。經向所有董事和監事查 regarding securities transactions by the Directors and the Supervisors. Having 詢，其已確認，於回顧期間，彼等一直遵守標準守則。
made specific enquiry of all Directors and Supervisors, all of them confirmed
that they had complied with the Model Code during the Review Period.
Directors’,Supervisors’ and ChiefExecutives’ 董事、監事及最高行政人員於本公司及 Interests and Short Positions in Securities of the 其相聯法團的證券中之權益及淡倉 Company and its Associated Corporations
To the best knowledge of the Directors, as at 30 June 2014, the Directors, 據董事所知，於二零一四年六月三十日，本公司各董 the Supervisors and chief executives of the Company had interests and short 事、監事及本公司最高行政人員於本公司或其任何相聯 positions in the Shares, underlying shares or debentures of the Company or 法團（定義見香港《證券及期貨條例》）的股份、相關股份 any of its associated corporations (as defined in the Securities and Futures 及債券中擁有任何根據《證券及期貨條例》第XV部第7及 Ordinance (the “SFO”) of Hong Kong) which were required to be notified to the 第8分部須知會本公司及聯交所的權益及淡倉（包括彼根 Company and the Stock Exchange pursuant to the provisions of Divisions 7 據《證券及期貨條例》的有關條文而被當作或視作擁有的 and 8 of Part XV of the SFO (including interests and short positions which they 權益及淡倉），或根據《證券及期貨條例》第352條須載入 are taken or deemed to have under relevant provisions of the SFO); or were 該條例所述的登記冊的權益及淡倉（包括彼根據《證券及 required, pursuant to section 352 of the SFO, to be recorded in the register 期貨條例》的有關條文而被當作或視作擁有的權益及淡 referred to therein (including interests and short positions which they are taken 倉），或根據上市規則內上市公司董事進行證券交易的 or deemed to have under relevant provisions of the SFO); or were required to be 標準守則須知會本公司及聯交所的權益及淡倉如下： notified to the Company and the Stock Exchange pursuant to the Model Code
for Securities Transactions by Directors of Listed Companies under the Listing
Rules as follows:
14
Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Directors, Supervisors and Chief Executives董事、監事及最高行政人員
Directors’,Supervisors’ and ChiefExecutives’ 董事、監事及最高行政人員於本公司及 Interests and Short Positions in Securities of the 其相聯法團的證券中之權益及淡倉（續） Company and its Associated Corporations
(Continued)
Approximate Approximate
percentage of percentage of
Director/ the relevant the total Long position/ Supervisor/ Capacity/ Class of Number of class of number of Short position/ Name Chief Executive Nature of interest shares shares shares% shares% Lending pool佔有關
董事╱監事╱ 股本類別的 佔股份總數的好倉╱淡倉╱姓名 最高行政人員 身份╱權益性質 股份類別 股份數目 概約百分比% 概約百分比%可供借出的股份 Jiao Chengyao Director Beneficial owner A Share 3,591,840 0.26 0.22 Long position焦承堯 董事 實益擁有人 A股 好倉 Shao Chunsheng Director Beneficial owner A Share 3,591,840 0.26 0.22 Long position邵春生 董事 實益擁有人 A股 好倉 Xiang Jiayu Director Beneficial owner A Share 2,526,720 0.18 0.16 Long position向家雨 董事 實益擁有人 A股 好倉 Fu Zugang Director Beneficial owner A Share 2,526,720 0.18 0.16 Long position付祖岡 董事 實益擁有人 A股 好倉 Wang Xinying Director Beneficial owner A Share 2,526,720 0.18 0.16 Long position王新瑩 董事 實益擁有人 A股 好倉 Ding Hui Supervisor Beneficial owner A Share 2,394,000 0.17 0.15 Long position丁輝 監事 實益擁有人 A股 好倉 Ni Heping Supervisor Beneficial owner A Share 2,394,500 0.17 0.15 Long position倪和平 監事 實益擁有人 A股 好倉 Zhang Zhiqiang Supervisor Beneficial owner A Share 600 0.00 0.00 Long position張志強 監事 實益擁有人 A股 好倉 Guo Haofeng Chief Executive Beneficial owner A Share 2,526,720 0.18 0.16 Long position郭昊峰 最高行政人員 實益擁有人 A股 好倉 Gao Youjin Chief Executive Beneficial owner A Share 2,526,720 0.18 0.16 Long position高有進 最高行政人員 實益擁有人 A股 好倉 Zhang Minglin Chief Executive Beneficial owner A Share 2,526,720 0.18 0.16 Long position張命林 最高行政人員 實益擁有人 A股 好倉 Bao Xueliang Chief Executive Beneficial owner A Share 2,472,960 0.18 0.15 Long position鮑雪良 最高行政人員 實益擁有人 A股 好倉
Guo Desheng Chief Executive Beneficial owner A Share 2,394,000 0.17 0.15 Long position
郭德生 最高行政人員 實益擁有人 A股 好倉
Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Directors, Supervisors and Chief Executives董事、監事及最高行政人員
Directors’,Supervisors’ and ChiefExecutives’ 董事、監事及最高行政人員於本公司及 Interests and Short Positions in Securities of the 其相聯法團的證券中之權益及淡倉（續） Company and its Associated Corporations
(Continued)
Save as disclosed above, as at 30 June 2014, none of the Directors, the 除上文所披露者外，於二零一四年六月三十日，本公司 Supervisors or chief executives of the Company had any interest or short 各董事、監事或本公司最高行政人員概無於本公司或任 position in the shares, underlying shares or debentures of the Company or any 何相聯法團（定義見香港《證券及期貨條例》）的股份、相 of its associated corporations (as defined in the SFO of Hong Kong) which were 關股份或債券中，擁有任何根據《證券及期貨條例》第 required to be notified to the Company and the Stock Exchange pursuant to the XV部第7及第8分部須知會本公司及聯交所的權益或淡倉 provisions of Divisions 7 and 8 of Part XV of the SFO (including interests and （包括彼等視為擁有的權益或淡倉），或根據《證券及期 short positions which they are deemed to have); or were required, pursuant to 貨條例》第352條須載入該條例所述的登記冊的權益或淡 section 352 of the SFO, to be recorded in the register referred to therein; or 倉，或根據聯交所上市規則內上市公司董事進行證券交 were required to be notified to the Company and the Stock Exchange pursuant 易的標準守則須知會本公司和聯交所的權益或淡倉。
to the Model Code for Securities Transactions by Directors of Listed Companies
under the Listing Rules of the Stock Exchange.
Independent Non-executive Directors 獨立非執行董事
The Company had appointed enough number of independent non-executive 本公司已根據聯交所上市規則的規定委任足夠數目、並 Directors with appropriate professional qualifications or accounting or related 具備適當的專業資格、或具備適當的會計或相關財務管 financial management expertise as required under the Listing Rules of the Stock 理專長的獨立非執行董事。於二零一四年六月三十日， Exchange. As at 30 June 2014, the Company has appointed four Independent 本公司共委任四名獨立非執行董事，分別為李斌先生、 Non-executive Directors, namely Mr. Li Bin, Mr. Gao Guoan, Mr. Luo Jiamang 高國安先生、駱家駹先生及劉堯女士。
and Ms. Liu Yao.
16
Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Change of Share Capital and Shareholder Information股本變動及股東情況 Structure and Number of Shareholders 股東結構及股東人數
Details of the shareholders as recorded in the register of shareholders of the 於二零一四年六月三十日，本公司股東名冊所記錄的股 Company at 30 June 2014 are as follows: 東詳情如下：
Holders of A Shares 61,845 A股股東 61,845 Holders of H Shares 115 H股股東 115 Total number of shareholders 61,960 股東總數 61,960 SubstantialShareholders’ Interests and Short 主要股東於本公司所持股份、相關股份 Positions in Shares and Underlying Shares of the 之權益及淡倉
Company
As at 30 June 2014, so far as the Directors were aware, the following 據董事所知，於二零一四年六月三十日，下列股東（董 shareholders (other than the Directors, Supervisors or chief executives) had 事、監事或最高行政人員除外）於本公司的任何股份及 interests or short positions in any shares and the underlying shares of the 相關股份中，擁有根據《證券及期貨條例》第XV部第2及3 Company which were required to be notified to the Company pursuant to the 分部須知會本公司的權益或淡倉，或根據《證券及期貨 provisions of Divisions 2 and 3 of Part XV of the SFO, or which were required, 條例》第336條須記入本公司備存的登記冊的權益或淡 pursuant to section 336 of the SFO, to be recorded in the register kept by the 倉：
Company:
Approximate
Approximate percentage of
percentage of the total Long position/ Capacity/ Class of Number of the relevant number of Short position/ Name Nature of interest shares shares class of shares% shares% Lending pool佔有關
股本類別的 佔股份總數的好倉╱淡倉╱姓名╱名稱 身份╱權益性質 股份類別 股份數目 概約百分比% 概約百分比%可供借出的股份 State-owned Assets Supervision and Beneficial owner A Share 521,087,800 37.82 32.14 Long position Administration Commission of Henan 實益擁有人 A股 好倉 ProvincialPeople’s Government
河南省人民政府國有資產監督
管理委員會
National Council for Social Security Fund Beneficial owner H Share 23,709,400 9.75 1.46 Long position全國社會保障基金理事會 實益擁有人 H股 好倉 CITIC Securities Company Limited(1) Interest of controlled H Share 22,402,600 9.21 1.38 Long position corporation H股 好倉受控制的法團的權益
CITIC Securities International Interest of controlled H Share 22,402,600 9.21 1.38 Long position Company Limited(1) corporation H股 好倉受控制的法團的權益
CSI Capital Management Limited(1) Beneficial owner H Share 22,402,600 9.21 1.38 Long position實益擁有人 H股 好倉
Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Change of Share Capital and Shareholder Information股本變動及股東情況
SubstantialShareholders’ Interests and Short 主要股東於本公司所持股份、相關股份 Positions in Shares and Underlying Shares of the 之權益及淡倉（續）
Company
(Continued)
Approximate
Approximate percentage of
percentage of the total Long position/ Capacity/ Class of Number of the relevant number of Short position/ Name Nature of interest shares shares class of shares% shares% Lending pool佔有關
股本類別的 佔股份總數的好倉╱淡倉╱姓名╱名稱 身份╱權益性質 股份類別 股份數目 概約百分比% 概約百分比%可供借出的股份 Value Partners High-Dividend Stocks Fund Beneficial owner H Share 17,127,400 7.04 1.06 Long position實益擁有人 H股 好倉
Cheah Capital Management Limited(2) Interest of controlled H Share 17,959,000 7.38 1.11 Long position corporation H股 好倉
受控制的法團的權益
Cheah Company Limited(2) Interest of controlled H Share 17,959,000 7.38 1.11 Long position corporation H股 好倉
受控制的法團的權益
BNP Paribas Jersey Trust Corporation Nominee for another person H Share 17,959,000 7.38 1.11 Long position Limited(3) 另一人的代名人 H股 好倉
BNP Paribas Jersey Nominee Company Trustee H Share 17,959,000 7.38 1.11 Long position Limited(3) 受託人 H股 好倉
Value Partners Group Limited(4) Interest of controlled H Share 17,959,000 7.38 1.11 Long position corporation H股 好倉
受控制的法團的權益
To Hau Yin(5) Interest of the substantial H Share 17,959,000 7.38 1.11 Long position杜巧賢(5) shareholder’s spouse H股 好倉
大股東配偶的權益
Cheah Cheng Hye(6) Founder of a discretionary H Share 17,959,000 7.38 1.11 Long position謝清海(6) trust H股 好倉
酌情信託的成立人
18
Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Change of Share Capital and Shareholder Information股本變動及股東情況
SubstantialShareholders’ Interests and Short 主要股東於本公司所持股份、相關股份 Positions in Shares and Underlying Shares of the 之權益及淡倉（續）
Company
(Continued)
Notes: 附註：
(1) CSI Capital Management Limited directly held 22,402,600 shares in the H Shares (1) CSI Capital ManagementLimited直接持有22,402,600股本公司H of the Company. CSI Capital Management Limited was a wholly-owned subsidiary of 股。CSI Capital ManagementLimited為CITIC Securities International CITIC Securities International Company Limited, which was wholly-owned by CITIC CompanyLimited全資附屬公司。CITIC Securities Company Limited Securities Company Limited. By virtue of the SFO, CITIC Securities International 全資擁有CITIC Securities International CompanyLimited。根據證 Company Limited and CITIC Securities Company Limited were deemed to own 券及期貨條例，CITIC Securities International Company Limited 22,402,600 shares in the H Shares of the Company which were in the same block 及CITIC Securities CompanyLimited被視作擁有由CSI Capital directly held by CSI Capital Management Limited. ManagementLimited直接持有同一批22,402,600股本公司H股。
(2) Cheah Company Limited directly held 17,959,000 shares in the H Shares of (2) Cheah CompanyLimited直接持有17,959,000股本公司H股。
the Company. Cheah Capital Management Limited was wholly-owned by Cheah Cheah CompanyLimited全資擁有Cheah Capital Management Company Limited. By virtue of the SFO, Cheah Capital Management Limited was Limited。根據證券及期貨條例，Cheah Capital Management deemed to own 17,959,000 shares in the H Shares of the Company which were in Limited被視作擁有由Cheah CompanyLimited直接持有同一批 the same block directly held by Cheah Company Limited. 17,959,000股本公司H股。
(3) BNP Paribas Jersey Trust Corporation Limited directly held 17,959,000 shares in (3) BNP Paribas Jersey Trust CorporationLimited直接持有17,959,000 the H Shares of the Company. BNP Paribas Jersey Nominee Company Limited was 股本公司H股。BNP Paribas Jersey Trust CorporationLimited全 wholly-owned by BNP Paribas Jersey Trust Corporation Limited. Cheah Company 資擁有BNP Paribas Jersey Nominee CompanyLimited；而BNP Limited was wholly-owned by BNP Paribas Jersey Nominee Company Limited. By Paribas Jersey Nominee CompanyLimited全資擁有Cheah Company virtue of the SFO, Cheah Company Limited was deemed to own 17,959,000 shares Limited。根據證券及期貨條例，Cheah CompanyLimited被視 in the H Shares of the Company which were in the same block directly held by BNP 作擁有由BNP Paribas Jersey Trust CorporationLimited直接持有 Paribas Jersey Trust Corporation Limited. 同一批17,959,000股本公司H股。
(4) Value Partners Group Limited directly held 17,959,000 shares in the H Shares of the (4) Value Partners GroupLimited直接持有17,959,000股本公司H Company. Value Partners Hong Kong Limited was wholly-owned by Value Partners 股。Value Partners GroupLimited全資擁有Value Partners Hong Group Limited; and Value Partners Limited was wholly-owned by Value Partners KongLimited；而Value Partners Hong KongLimited全資擁有Value Hong Kong Limited. By virtue of the SFO, Value Partners Hong Kong Limited and PartnersLimited。根據證券及期貨條例，Value Partners Hong Value Partners Limited were deemed to own 17,959,000 shares in the H Shares of KongLimited及Value PartnersLimited被視作擁有由Value Partners the Company which were in the same block directly held by Value Partners Group GroupLimited直接持有同一批17,959,000股本公司H股。
Limited.
(5) To Hau Yin is the spouse of Cheah Cheng Hye. By virtue of the SFO, To Hau Yin was (5)杜巧賢是謝清海的配偶，根據證券及期貨條例，杜巧賢 deemed to own 17,959,000 shares in the H Shares of the Company which were in 被視作擁有由謝清海直接持有同一批17,959,000股本公司H the same block directly held by Cheah Cheng Hye. 股。
(6) Cheah Cheng Hye was the founder of a discretionary trust and the trustee of which (6)謝清海是受託人為C H Cheah FamilyTrust的酌情信託的成立 was C H Cheah Family Trust. By virtue of the SFO, Cheah Cheng Hye was deemed 人，根據證券及期貨條例，謝清海被視作擁有由C H Cheah to own 17,959,000 shares in the H Shares of the Company which were in the same FamilyTrust直接持有同一批17,959,000股本公司H股。
block directly held by C H Cheah Family Trust.
Save as disclosed above, as at 30 June 2014, so far as the Directors were 除上文所披露者外，據董事所知，於二零一四年六月 aware, no other person (other than the Directors, Supervisors or chief 三十日，概無任何其他人士（除董事、監事或最高行政 executives) had interests or short positions in the shares or underlying shares of 人員外）於本公司的股份及相關股份中擁有根據《證券及 the Company as recorded in the register required to be kept under section 336 期貨條例》第336條備存的登記冊的權益或淡倉。
of the SFO.
Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Material Events重要事項
Equity Interest 股本權益
As at 30 June 2014, the aggregate share capital of the H share of the Company 截至二零一四年六月三十日，本公司H股股本總數為 was RMB243,234,200, divided into 243,234,200 shares with RMB1.00 人民幣243,234,200元，分為243,234,200股，每股面值 each. The aggregate share capital of the A share of the Company was 人民幣1.00元的股份；本公司A股股本總數為人民幣 RMB1,377,887,800, divided into 1,377,887,800 shares with RMB1.00 each. 1,377,887,800元，分為1,377,887,800股，每股面值人民幣1.00元的股份。
Interim Dividend 中期股息
The board of the Company did not recommend the payment of interim dividend 本公司董事會並無建議派付截至二零一四年六月三十日 for the six months ended 30 June 2014. 止六個月之中期股息。
Corporate Governance 企業管治
The Board of the Company is committed to maintain a high standard of 本公司董事會致力維護高水平企業管治。董事會相信， corporate governance practices. The Board believes effective and reasonable 有效及合理的企業管治常規對本集團之發展至關重要， corporate governance practices are essential to the development of the Group 同時可保障及提升股東權益。
and can safeguard and enhance the interests of the shareholders.
The Company was listed on the Stock Exchange on 5 December 2012 (“Listing 本公司自二零一二年十二月五日（「上市日期」）在聯交所 Date”). The Company has adopted the code provisions of the Corporate 上市。本公司已採納聯交所上市規則附錄14所載企業管 Governance Code (the “CG Code”) (the “Code Provisions”) contained in 治守則（「企業管治守則」）之守則條文（「守則條文」）。自 Appendix 14 of the Listing Rules of the Stock Exchange. During the period from 二零一四年一月一日起至二零一四年六月三十日止期間 1 January 2014 and up to 30 June 2014 (the “Review Period”), the Code （「回顧期間」）守則條文適用於本公司。於回顧期間，本 Provisions were applied to the Company, and the Company has complied with 公司一直遵守企業管治守則的適用守則條文。
the applicable Code Provisions of the CG Code.
Purchase, Sale or Redemption of theCompany’s 購買、出售或贖回本公司上市證券 Listed Securities
During the Review Period, neither the Company nor any of its subsidiaries 本公司或其他任何附屬公司於回顧期間概無購買、出售 purchased, sold or redeemed any of theCompany’s listed securities. 或贖回本公司任何上市證券。
Acquisition and Disposal 收購與處置
During the Review Period, the Company was neither involved in any action of 於回顧期間，本公司概無涉及任何收購與處置資產行 acquisition nor disposal of assets. 為。
Material Litigation and Arbitration 重大訴訟及仲裁
During the Review Period, the Company was neither involved in any material 於回顧期間，本公司概無涉及任何重大訴訟或仲裁，亦 litigation or arbitration, nor any pending or may be brought up or accused of 無任何尚未了結或可能提出或被控的重大訴訟或索償。
material litigation or claims.
Audit Committee 審計委員會
The audit committee has reviewed the accounting standards and practices 審計委員會已審閱本公司所採納的會計準則及慣例，並 that the Company adopted, and discussed matters related to auditing, internal 討論有關審計、內部監控及財務申報事項。審計委員會 control and financial reporting. The audit committee has reviewed the unaudited 已審閱本公司截至二零一四年六月三十日止六個月未經 condensed consolidated interim financial information for the six months ended 審核簡明合併中期財務資料及二零一四年中期報告。
30 June 2014 and the interim report of 2014 of the Company.
20
Zhengzhou Coal Mining Machinery Group Co., Ltd. Interim Report 2014|鄭州煤礦機械集團股份有限公司2014中期報告
Report on Review of Condensed Consolidated Financial Statements簡明綜合財務報表審閱報告
TO THE BOARD OF DIRECTORS OF ZHENGZHOU COAL MINING 致鄭州煤礦機械集團股份有限公司董事會
MACHINERY GROUP COMPANY LIMITED
(Incorporated in thePeople’s Republic of China with limited liability) （在中華人民共和國註冊成立的股份有限公司） Introduction 引言
We have reviewed the condensed consolidated financial statements of 吾等已審閱列載於第23至48頁的鄭州煤礦機械集團股份 Zhengzhou Coal Mining Machinery Group Company Limited (the “Company”) 有限公司（「貴公司」）及其附屬公司（合稱「貴集團」）的簡 and its subsidiaries (collectively referred to as the “Group”) set out on pages 明綜合財務報表，其中包括於二零一四年六月三十日 23 to 48, which comprises the condensed consolidated statement of financial 的簡明綜合財務狀況表及截至該日止六個月期間的相 position as of 30 June 2014 and the related condensed consolidated statement 關簡明綜合損益及其他全面收益表、權益變動表及現金 of profit or loss and other comprehensive income, statement of changes in 流量表以及若干附註解釋。香港聯合交易所有限公司主 equity and statement of cash flows for the six-month period then ended, 板證券上市規則規定，編製中期財務資料的報告必須符 and certain explanatory notes. The Main Board Listing Rules Governing the 合上市規則有關條文及國際會計準則理事會頒佈的國 Listing of Securities on The Stock Exchange of Hong Kong Limited require the 際會計準則第34號「中期財務報告」（「國際會計準則第34 preparation of a report on interim financial information to be in compliance with 號」）。貴公司董事須負責根據國際會計準則第34號編 the relevant provisions thereof and International Accounting Standard 34 “Interim 製及列報該等簡明綜合財務報表。吾等的責任是根據吾 Financial Reporting” (“IAS 34”) issued by the International Accounting Standards 等的審閱對該等簡明綜合財務報表作出結論，並按照吾 Board. The directors of the Company are responsible for the preparation 等協定的應聘條款，僅向全體董事會報告，而不作其他 and presentation of these condensed consolidated financial statements in 用途。吾等概不就本報告的內容，對任何其他人士負責 accordance with IAS 34. Our responsibility is to express a conclusion on these 或承擔任何責任。
condensed consolidated financial statements based on our review, and to report
our conclusion solely to you, as a body, in accordance with our agreed terms
of engagement, and for no other purpose. We do not assume responsibility
towards or accept liability to any other person for the contents of this report.
Scope of review 審閱範圍
We conducted our review in accordance with Hong Kong Standard on Review 吾等已根據香港會計師公會頒佈的香港審閱委聘準則第 Engagements 2410 “Review of Interim Financial Information Performed by the 2410號「由實體之獨立核數師執行中期財務資料審閱」進 Independent Auditor of the Entity” issued by the Hong Kong Institute of Certified 行審閱。該等簡明綜合財務報表的審閱工作包括主要向 Public Accountants. A review of these condensed consolidated financial 負責財務及會計事務之人員作出查詢，並應用分析及其 statements consists of making inquiries, primarily of persons responsible for 他審閱程序。審閱的範圍遠較根據香港審計準則進行審 financial and accounting matters, and applying analytical and other review 核的範圍小，故吾等不能保證吾等會知悉於審核中可能 procedures. A review is substantially less in scope than an audit conducted in 發現的所有重大事項。因此，吾等不會發表審核意見。
accordance with Hong Kong Standards on Auditing and consequently does not
enable us to obtain assurance that we would become aware of all significant
matters that might be identified in an audit. Accordingly, we do not express an
audit opinion.
Report on Review of Condensed Consolidated Financial Statements
簡明綜合財務報表審閱報告
Conclusion 結論
Based on our review, nothing has come to our attention that causes us to 根據吾等的審閱，吾等並無發現任何事項，令吾等相信 believe that the condensed consolidated financial statements are not prepared, 簡明綜合財務報表在所有重大方面未有根據國際會計準 in all material respects, in accordance with IAS 34. 則第34號編製。
Deloitte Touche Tohmatsu 德勤•關黃陳方會計師行
Certified Public Accountants 執業會計師
Hong Kong 香港
21 August 2014 二零一四年八月二十一日
Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income簡明綜合損益及其他全面收益表
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
Six months ended 30 June截至六月三十日止六個月
||
|-|
|2014|
|二零一四年|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|3,182,575|
|(2,569,451)|
|613,124|
|48,841|
|(90,875)|
|(96,689)|
|(148,107)|
|(43,010)|
|6,927|
|(29)|
|(989)|
|289,193|
|(41,460)|
|247,733|
|(17,480)|
|26|
|(17,454)|
|230,279|
|247,955|
|(222)|
|247,733|
|230,501|
|(222)|
|230,279|
|0.15|

Condensed Consolidated Statement of Financial Position
簡明綜合財務狀況表
At 30 June 2014於二零一四年六月三十日
||
|-|
|At 30 June2014|
|於二零一四年六月三十日|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|1,714,868|
|393,210|
|10,395|
|6,175|
|407,010|
|3,532|
|57,802|
|101,515|
|369,237|
|3,063,744|
|8,660|
|1,745,617|
|80,000|
|4,970,460|
|1,005,000|
|16,151|
|361,709|
|1,873,482|
|10,061,079|
|2,774,067|
|566,246|
|2,260|
|98,445|
|3,441,018|
|6,620,061|
|9,683,805|

Condensed Consolidated Statement of Financial Position
簡明綜合財務狀況表
At 30 June 2014於二零一四年六月三十日
||
|-|
|At 30 June2014|
|於二零一四年六月三十日|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|1,621,122|
|3,409,354|
|4,471,388|
|9,501,864|
|163,114|
|9,664,978|
|18,827|

 The condensed consolidated financial statements on pages 23 to 48 were 第23至48頁的簡明綜合財務表報已由董事會於二零一四 approved and authorised for issue by the Board of Directors on 21 August 2014 年八月二十一日審批及授權刊發，並由下列董事代表簽 and are signed on its behalf by: 署：
DIRECTOR DIRECTOR
董事 董事
Jiao Chengyao Xiang Jiayu
焦承堯 向家雨
Condensed Consolidated Statement of Changes in Equity
簡明綜合權益變動表
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
Attributable
Statutory to owners Non-
Share Share Revaluation surplus Translation Other Retained of the controlling
capital premium reserve reserve reserve reserves earnings Company interests Total法定盈餘 本公司
股本股份溢價重估儲備 儲備匯兌儲備其他儲備保留盈利擁有人應佔非控股權益 合計RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000RMB’000人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元 At 1 January 2014 (audited) 於二零一四年一月一日
（經審核） 1,621,122 3,409,354 (22,418) 503,070 113 32,902 3,974,705 9,518,848 163,336 9,682,184 Profit and total comprehensive期內溢利及全面收入總額
income for the period (unaudited)（未經審核） – – (17,480) – 26 – 247,955 230,501 (222) 230,279 Contribution from the parent of本公司母公司出資
the Company (unaudited) （未經審核） – – – – – 20,000 – 20,000 – 20,000 Dividends (unaudited) (note 10)股息（未經審核（）附註10） – – – – – – (267,485) (267,485) – (267,485) At 30 June 2014 (unaudited)於二零一四年六月三十日
（未經審核） 1,621,122 3,409,354 (39,898) 503,070 139 52,902 3,955,175 9,501,864 163,114 9,664,978 At 1 January 2013 (audited) 於二零一三年一月一日
（經審核） 1,621,122 3,409,354 – 417,994 – 32,902 3,679,406 9,160,778 193,067 9,353,845 Profit and total comprehensive期內溢利及全面收入總額
income for the period (unaudited)（未經審核） – – – – – – 535,695 535,695 (6,579) 529,116 Dividends (unaudited) (note 10)股息（未經審核（）附註10） – – – – – – (486,337) (486,337) – (486,337) At 30 June 2013 (unaudited)於二零一三年六月三十日
（未經審核） 1,621,122 3,409,354 – 417,994 – 32,902 3,728,764 9,210,136 186,488 9,396,624 Note: 附註：
In accordance with the relevant PRC laws and regulations and the Articles of Association 根據中國相關法律及法規以及相關公司的章程細則，本公司及 of the relevant companies, the Company and its PRC subsidiaries are required to 其中國附屬公司需要將根據中國公認會計原則編製的法定財務 appropriate10% of their profit after taxation as reported in their statutory financial 報表所呈報的除稅後溢利撥出10%至法定盈餘儲備。當法定盈 statements prepared under the PRC generally accepted accounting principles to the 餘儲備已達相關公司的註冊資本50%時可不再撥款至法定盈餘 statutory surplus reserve. The appropriation to the statutory surplus reserve may cease if 儲備。
the balance of the statutory surplus reserve has reached50% of the registered capital of
the relevant companies.
The statutory surplus reserve can be used to make up prior year losses, if any, and can 法定盈餘儲備可用於彌補以前年度的虧損（如有），並可以資本 be applied in conversion into capital by means of a capitalisation issue. However, when 化發行之方式應用於資金轉換中。然而，若將本公司及其附屬 converting the statutory surplus reserve of the Company and its subsidiaries into capital, 公司的法定盈餘儲備轉為資本，剩餘的盈餘儲備不得少於相關 the remaining balance of such reserve must not be less than25% of the registered capital 公司註冊資本之25%。
of the relevant companies.
Condensed Consolidated Statement of Cash Flows
簡明綜合現金流量表
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
Six months ended 30 June截至六月三十日止六個月
||
|-|
|2014|
|二零一四年|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|289,193|
|989|
|(47,061)|
|(6,927)|
|29|
|82,845|
|199|
|1,166|
|4,401|
|97,091|
|518|
|(3,148)|
|419,295|
|(106,259)|
|(392,109)|
|282,431|
|3,752|
|207,110|
|(84,965)|
|122,145|

Condensed Consolidated Statement of Cash Flows
簡明綜合現金流量表
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
Six months ended 30 June截至六月三十日止六個月
||
|-|
|2014|
|二零一四年|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|57,112|
|–|
|1,914|
|(116,740)|
|–|
|(1,274)|
|(905,000)|
|545,764|
|(30,000)|
|–|
|300,000|
|(224,490)|
|157,195|
|(369,237)|
|(4,000)|
|(588,756)|
|–|
|20,000|
|(38,500)|
|(989)|
|–|
|(19,489)|
|(486,100)|
|2,046,434|
|3,148|
|1,563,482|

Notes to the Condensed Consolidated Financial Statements簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
1. General 1.一般資料
The Company was established in the PRC on 28 December 2008 as a 本公司於中國國有企業鄭煤機械重組後，根據中國 joint stock company with limited liability under the Company Law of the 公司法於二零零八年十二月二十八日在中國成立為 PRC after a reorganisation of ZCMM, a state owned enterprise in the PRC. 股份有限公司。本公司董事認為本公司母公司為中 In the opinion of the directors of the Company, the parent of the Company 國政府河南省人民政府國有資產監督管理委員會 is the State-owned Assets Supervision and Administration Commission （「河南省國資委」）。
of Henan ProvincialPeople’s Government (“Henan SASAC”) of the PRC
Government.
On 3 August 2010, the Company completed its initial public offering and 於二零一零年八月三日，本公司完成140,000,000股 listing of 140,000,000 A shares on the Shanghai Stock Exchange under A股首次公開發售並在上海證券交易所上市（股份代 the stock code 601717.SS. The Company was listed on the Main Board 號601717.SS）。本公司於二零一二年十二月五日在 of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) on 5 香港聯合交易所有限公司（「聯交所」）主板上市。
December 2012.
The respective addresses of the registered office and the principal place 本公司相關註冊辦事處地址及主要營業地點於中期 of business of the Company are disclosed in the corporate information 報告「公司資料」一節披露。本集團從事生產煤炭開 section of the interim report. The Group is engaged in the manufacturing 採機械。
of coal mining machinery.
The condensed consolidated financial statements are presented in 簡明綜合財務報表以人民幣（「人民幣」）呈列，與本 Renminbi (“RMB”), which is also the functional currency of the Company 公司及其主要附屬公司之功能貨幣相同。
and its principal subsidiaries.
2. Basis of preparation 2.編製基準
The condensed consolidated financial statements have been prepared in 簡明綜合財務報表乃根據國際會計準則理事會（「國 accordance with International Accounting Standard 34 (IAS 34) Interim 際會計準則理事會」）頒佈的國際會計準則第34號中 Financial Reporting issued by the International Accounting Standards 期財務報告及香港聯合交易所有限公司證券上市規 Board (the “IASB”) as well as with the applicable disclosure requirements 則（「上市規則」）附錄16之適用披露規定編製。
of Appendix 16 to the Rules Governing the Listing of Securities on The
Stock Exchange of Hong Kong Limited (the “Listing Rules”).
3. Principal accounting policies 3.主要會計政策
The condensed consolidated financial statements have been prepared on 簡明綜合財務報表按歷史成本法編製，惟按公平值 the historical cost basis except for certain financial instruments, which are 計量之若干金融工具（按適用情況）除外。
measured at fair values, as appropriate.
Except as described below, the accounting policies and methods of 除下文所述外，截至二零一四年六月三十日止六個 computation used in the condensed consolidated financial statements for 月之簡明綜合財務報表所用的會計政策及計算方 the six months ended 30 June 2014 are the same as those followed in the 法，與編製本集團截至二零一三年十二月三十一日 preparation of theGroup’s annual financial statements for the year ended 止年度之年度財務報表所用者一致。
31 December 2013.
In the current interim period, the Group has applied, for the first time, 於本中期期間，本集團首次應用由國際會計準則理 a new Interpretation and certain amendments to International Financial 事會頒佈且已於本中期期間強制生效的一項新註釋
Reporting Standards (“IFRSs”) issued by the IASB that are mandatorily 及國際財務報告準則的若干修訂。
effective for the current interim period.
Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
3. Principal accounting policies
(Continued)
3.主要會計政策（續）
The application of the above new Interpretation and amendments to IFRSs 於本中期期間應用上述新詮釋及國際財務報告準則 in the current interim period has had no material effect on the amounts 的修訂並無對此等簡明綜合財務報表所呈報的金額 reported in these condensed consolidated financial statements and/or 及╱或此等簡明綜合財務報表所載的披露資料有任 disclosures set out in these condensed consolidated financial statements. 何重大影響。
4. Segment information 4.分部資料
The Group has only one operating segment which is the manufacture of 本集團只有一個經營分部，即生產煤機設備。本集 coal mining machinery and theGroup’s profit before tax are reviewed 團的除稅前溢利定期由本集團的主要經營決策人所 regularly by theGroup’s chief operating decision maker to make decisions 覆核，以就資源分配及表現評估作出決策。
about resources allocation and performance assessment.
5. Other income 5.其他收入
Six months ended 30 June截至六月三十日止六個月
||
|-|
|2014|
|二零一四年|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|1,780|
|47,061|
|48,841|

 Note: Government grants mainly represent unconditional government grants 附註：政府補助主要指就補償所產生研究和開發費用而 received from the local government for compensation of research and 自地方政府獲取的無條件政府補助。
development expenses incurred.
Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
6. Other gains and losses 6.其他收益及虧損
Six months ended 30 June截至六月三十日止六個月
||
|-|
|2014|
|二零一四年|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|(518)|
|3,148|
|(97,091)|
|3,586|
|(90,875)|

 7. Finance cost 7.融資成本
Six months ended 30 June截至六月三十日止六個月
||
|-|
|2014|
|二零一四年|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|989|
|989|

Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
8. Income tax expense 8.所得稅開支
Six months ended 30 June截至六月三十日止六個月
||
|-|
|2014|
|二零一四年|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|56,045|
|194|
|(2,181)|
|(12,598)|
|41,460|

 The tax rates of the major group entities for the six months ended 30 June 截至二零一四年六月三十日及二零一三年六月三十 2014 and 30 June 2013 are as follows: 日止六個月主要集團實體稅率如下：
Six months ended 30 June截至六月三十日止六個月
||
|-|
|2014|
|二零一四年|
|RMB’000|
|人民幣千元|
|15%|
|15%|
|15%|
|25%|
|25%|
|15%|
|15%|

Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
8. Income tax expense
(Continued)
8.所得稅開支（續）
Note 1: The Company received the High and New Technology Enterprises 附註1：本公司於二零一一年十月二十八日取得「高新 Certificate on October 28, 2011, which entitles to a preferential tax rate 技術企業證書」，由二零一一年一月一日至二 of15% from January 1, 2011 to December 31, 2013. In the opinion of 零一三年十二月三十一日有權享有優惠稅率 the directors of the Company, the relevant certificate can be obtained 15%。董事認為，可於本年內在不招致重大成 within this year without incurring significant costs. 本情況下獲取相關證書。
Note 2: ZMJ Comprehensive Equipment received the “Technology Certificate” 附註2：鄭煤機綜機於二零一三年六月二十六日取得 on 26 June 2013 and is entitled to a preferential tax rate of15% from 1 「技術證書」，由二零一三年一月一日至二零 January 2013 to 31 December 2015. ZMJ Comprehensive Equipment 一五年十二月三十一日有權享有優惠稅率 previously was entitled to a preferential tax rate of15% from 1 January 15%。根據另一份證書，鄭煤機綜機之前由二 2010 to 31 December 2012 under a separate certificate. 零一零年一月一日至二零一二年十二月三十一日有權享有優惠稅率15%。
Note 3: ZMJ Hydraulic Control received the “Technology Certificate” on 26 June 附註3：鄭煤機液壓電控於二零一三年六月二十六日 2013 and is entitled to a preferential tax rate of15% from 1 January 取得「技術證書」，由二零一三年一月一日至 2013 to 31 December 2015. ZMJ Hydraulic Control previously was 二零一五年十二月三十一日有權享有優惠稅 entitled to a preferential tax rate of15% from 1 January 2010 to 31 率15%。根據另一份證書，鄭煤機液壓電控之 December 2012 under a separate certificate. 前由二零一零年一月一日至二零一二年十二月三十一日有權享有優惠稅率。
Note 4: ZMJ Lu An Xinjiang received the “Technology Certificate” on 9 June 附註4：鄭煤機潞安新疆於二零一四年六月九日取得 2014 and is entitled to a preferential tax rate of15% from 1 January 「技術證書」，由二零一四年一月一日至二零 2014 to 31 December 2016. 一六年十二月三十一日有權享有優惠稅率15%。
Note 5: ZMJ Shun Li Machinery received the “Technology Certificate” on 16 July 附註5：鄭煤機舜立機械於二零一三年七月十六日取得 2013 and is entitled to a preferential tax rate of15% from 1 January 「技術證書」，由二零一三年一月一日至二零 2013 to 31 December 2015. 一五年十二月三十一日有權享有優惠稅率15%。
Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
9. Profit for the period 9.期內溢利
Six months ended 30 June截至六月三十日止六個月
||
|-|
|2014|
|二零一四年|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|82,845|
|199|
|1,166|
|4,401|
|88,611|
|202,791|
|28,095|
|230,886|
|97,091|
|2,569,451|

 10. Dividends 10.股息
Six months ended 30 June截至六月三十日止六個月
||
|-|
|2014|
|二零一四年|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|–|
|267,485|

 During the current interim period, a final dividend of RMB0.165 per 於本中期期間內，本公司向股東宣派截至二零一三 share in respect of the year ended 31 December 2013 was declared to 年十二月三十一日止年度的末期股息每股人民幣 the owners of the Company. The aggregate amount of the final dividend 0.165元，中期期間宣派的末期股息總額為人民幣 declared in the interim period amounted to RMB267,485,000. The
267,485,000元。本公司董事已決定不會就中期期間
directors of the Company have determined that no dividend will be paid in
派付股息。
respect of the interim period.
Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
11. Earnings per share 11.每股盈利
The calculation of basic and diluted earnings per share for each of the six 截至二零一四年六月三十日及二零一三年六月三十 months ended 30 June 2014 and 30 June 2013 is based on the following 日止各六個月，每股基本及攤薄盈利按以下數據計 data: 算：
Six months ended 30 June截至六月三十日止六個月
||
|-|
|2014|
|二零一四年|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|247,955|
|1,621,122,000|

 The Company did not have any dilutive potential ordinary shares in issue 於截至二零一四年六月三十日及二零一三年六月 during each of the six months ended 30 June 2014 and 30 June 2013. 三十日止各六個月，本公司並無任何已發行具潛在攤薄作用的普通股。
Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
12. Movements in property, plant and equipment 12.物業、廠房及設備
Plant and Motor Other Construction
Buildings machinery vehicles equipment in progress Total樓宇廠房及機器 車輛 其他設備 在建工程 總計RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元 COST 成本
At 1 January 2013 (audited) 於二零一三年一月一日
（經審核） 880,162 890,340 48,601 86,437 156,137 2,061,677 Additions 添置 – 22,190 3,930 4,468 90,146 120,734 Transfer 轉讓 6,445 33,877 – – (40,322) – Disposals 處置 – (30,774) (4,057) (857) – (35,688) At 31 December 2013 (audited) 於二零一三年十二月三十一日
（經審核） 886,607 915,633 48,474 90,048 205,961 2,146,723 Additions 添置 430 25,248 1,957 72,500 16,605 116,740 Transfer 轉讓 78 3,739 – – (3,817) – Disposals 處置 – (4,104) (748) (351) – (5,203) At 30 June 2014 (unaudited) 於二零一四年六月三十日
（未經審核） 887,115 940,516 49,683 162,197 218,749 2,258,260 ACCUMULATED DEPRECIATION 累計折舊
At 1 January 2013 (audited) 於二零一三年一月一日
（經審核） 65,458 227,176 23,186 30,779 – 346,599 Provided for the period 期間折舊 32,945 94,232 7,132 14,194 – 148,503 Elimination on disposals 處置時對銷 – (28,980) (2,027) (777) – (31,784) At 31 December 2013 (audited) 於二零一三年十二月三十一日
（經審核） 98,403 292,428 28,291 44,196 – 463,318 Provided for the period 期間折舊 16,545 44,418 3,343 18,539 – 82,845 Elimination on disposals 處置時對銷 – (1,972) (482) (317) – (2,771) At 30 June 2014 (unaudited) 於二零一四年六月三十日
（未經審核） 114,948 334,874 31,152 62,418 – 543,392 CARRYING VALUES 賬面值
At 31 December 2013 (audited) 於二零一三年十二月三十一日
（經審核） 788,204 623,205 20,183 45,852 205,961 1,683,405 At 30 June 2014 (unaudited) 於二零一四年六月三十日
（未經審核） 772,167 605,642 18,531 99,779 218,749 1,714,868 All the buildings are located in the PRC. The Group was in process of 所有樓宇均座落在中國境內。本集團仍待獲取於二 obtaining the relevant property ownership certificates for buildings with 零一四年六月三十日賬面淨值為人民幣12,859,000 a net book value of RMB12,859,000 as at 30 June 2014 (31 December 元（二零一三年十二月三十一日：人民幣13,109,000 2013: RMB13,109,000). In the opinion of the directors of the Company, 元）的樓宇相關物業所有權證。本公司董事認為， the relevant property ownership certificates can be obtained in due time 可適時取得相關物業所有權證，而不會產生重大成
without incurring significant costs. 本。
Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
13. Prepaid lease payments 13.預付土地租賃款項
||
|-|
|At 30 June2014|
|於二零一四年六月三十日|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|8,660|
|393,210|
|401,870|

 The prepaid lease payments are all in respect of land use rights located in 預付土地租賃款項均為有關位於中國按50年中期租 the PRC held under a medium-term lease of 50 years. 賃持有的土地使用權。
14. Investments in associates 14.於聯營公司之投資
||
|-|
|At 30 June2014|
|於二零一四年六月三十日|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|394,392|
|12,618|
|407,010|

Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
15. Held to maturity investments 15.持至到期投資
||
|-|
|At 30 June2014|
|於二零一四年六月三十日|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|396,237|

 On 26 March 2014, the Company entered into the subscription agreement 於二零一四年三月二十六日，本公司與Sun Hung Kai with Sun Hung Kai& Co. (BVI) Limited and Sun Hung Kai& Co. Limited, & Co. (BVI)Limited及Sun Hung Kai& Co.Limited訂立認購 pursuant to which, the Company agreed to subscribe for the notes in the 協議，據此，本公司同意認購本金額為60,000,000 principal amount of USD60,000,000, with a coupon rate of3.0% per 美元的票據，年票息率為3.0%，每半年以後付方式 annum, semi-annually payable in arrears. The notes will expire on 28 支付。票據將於二零一七年十二月二十八日屆滿。
December 2017.
16. Trade and other receivables 16.貿易及其他應收款項
||
|-|
|At 30 June2014|
|於二零一四年六月三十日|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|829,088|
|4,488,565|
|(536,312)|
|4,781,341|
|163,728|
|11,828|
|6,772|
|13,784|
|(6,993)|
|189,119|
|4,970,460|

Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
16. Trade and other receivables
(Continued)
16.貿易及其他應收款項（續）
The following is an aged analysis of bills receivables and trade receivables 以下為各報告期末按發票日期呈列的應收票據及貿 net of allowance for doubtful debts presented based on the invoice date at 易應收款項扣除呆賬撥備後的賬齡分析： the end of each reporting period:
||
|-|
|At 30 June2014|
|於二零一四年六月三十日|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|2,707,475|
|1,049,112|
|882,762|
|141,992|
|4,781,341|

 17. Other financial assets 17.其他金融資產
||
|-|
|At 30 June2014|
|於二零一四年六月三十日|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|1,005,000|

 Other financial assets as at 30 June 2014 represented the structured 於二零一四年六月三十日的其他金融資產指於中國 deposits with banks in the PRC carrying variable expected interest rate 的銀行的結構性存款，按預期浮動年利率由3.60% ranging from3.60% to4.85% per annum and maturity period of three or 至4.85%及於3至6個月內到期。
six months.
Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
18. Bank balances and cash/pledged bank deposits 18.銀行結餘及現金╱已抵押銀行存款 Bank balances and cash of the Group comprise cash and short-term bank 本集團銀行結餘及現金包括現金及短期銀行存款。
deposits. The bank balances carry interest at market rates which range 銀行結餘按市場利率計息，於二零一四年六月三十 from0.35% to3.25% per annum (unaudited) as at 30 June 2014 (31 日，年利率分別介乎0.35%至3.25%（未經審核）（二 December 2013:0.35% to3.25% per annum). 零一三年十二月三十一日：年利率0.35%至3.25%）。
||
|-|
|At 30 June2014|
|於二零一四年六月三十日|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|299|
|1,563,183|
|1,563,482|
|310,000|
|1,873,482|

 Pledged bank deposits represent deposits pledged to banks to secure bank 已抵押銀行存款為銀行承兌匯票及保函之保證金， acceptance bills and letters of guarantee and are therefore classified as 因此被分類為流動資產。已抵押銀行存款按市場利 current assets. The pledged bank deposits carry interest at market rates 率計息，於二零一四年六月三十日，年利率介乎 which range from0.35% to3.25% per annum (unaudited) as at 30 June 0.35%至3.25%之範圍（未經審核）（二零一三年十二 2014 (31 December 2013:0.35% to3.25% per annum). 月三十一日：年利率0.35%至3.25%）。
Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
19. Trade and other payables 19.貿易及其他應付款項
||
|-|
|At 30 June2014|
|於二零一四年六月三十日|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|496,232|
|1,671,969|
|2,168,201|
|267,485|
|111,696|
|106,478|
|23,373|
|14,558|
|18,793|
|63,483|
|2,774,067|

 i) The following is an aged analysis of bills payables and trade payables i)以下為於各報告期末按發票日期呈列的應付票據及 presented based on invoice date at the end of each reporting period: 貿易應付款項的賬齡分析：
||
|-|
|At 30 June2014|
|於二零一四年六月三十日|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|989,009|
|933,033|
|246,159|
|2,168,201|

Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
19. Trade and other payables
(Continued)
19.貿易及其他應付款項（續）
ii) The balance represents the amount due to a non-controlling shareholder ii)該結餘指應付鄭煤機舜立機械一名非控股股東之款 of ZMJ Shun Li Machinery. The amount is unsecured, interest-free and 項。該款項為無抵押、免息且須按要求償還。
repayable on demand.
iii) Deposits represent the deposits received from suppliers for purchasing iii)訂金指從供應商所收到購買設備、建築物及其他服 equipment, construction and other services. 務之訂金。
iv) Deferred income to be recognised within one year represents the government iv)將於一年內確認之遞延收入指本集團就若干研究項 subsidies received by the Group towards certain research projects. The 目所收取政府補助。該款項被視作遞延收入且將轉 amount has been treated as deferred income and will be transferred to 撥至相關項目之收入。
income for the relevant projects.
v) Accruals and other payables mainly consist of payables for the acquisition v)預提及其他應付款項主要包括用於購置物業、廠房 of property, plant and equipment, rental payables and payables for other 及設備之應付款項、應付租金及其他服務之應付款 services. 項。
20. Share capital 20.股本
Listed A Shares Listed H Shares Total
上市A股 上市H股 總計
Number of Number of Number of
share Amount share Amount share Amount股份數目 金額 股份數目 金額 股份數目 金額’000 RMB’000 ’000 RMB’000 ’000 RMB’000人民幣 人民幣 人民幣千股 千元 千股 千元 千股 千元 At 1 January 2013, 於二零一三年一月一日、
31 December 2013 and 二零一三年
30 June 2014 十二月三十一日及
二零一四年
六月三十日 1,377,888 1,377,888 243,234 243,234 1,621,122 1,621,122 Except for the currency in which dividends are paid, H Shares and A 除所派股息之貨幣外，H股及A股在各方面均享有 Shares rank pari passu in all respects with each other. 同等地位。
Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
21. Capital commitments 21.資本承諾
||
|-|
|At 30 June2014|
|於二零一四年六月三十日|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|23,814|
|25,911|
|49,725|

 22. Related party transactions 22.關聯方交易
In the opinion of the directors of the Company, the parent of the Company 本公司董事認為，本公司之母公司為中國政府河南 is Henan SASAC of the PRC government and that the Group is subject to 省國資委，而本集團受中國政府控制。根據國際會 the control of the PRC government. In accordance with IAS 24, entities 計準則第24號，受中國政府控制、共同控制或重大 that are controlled, jointly controlled or significantly influenced by the PRC 影響之實體（「中國政府相關實體」）被視為本集團之 government (“PRC government related entities”) are regarded as related 關聯方。鑒於複雜之擁有權結構，中國政府可於多 parties of the Group. Due to the complex ownership structure, the PRC 家公司持有間接權益。若干該等權益當中或當其與 government may hold indirect interests in many companies. Some of 其他間接權益合併時，可能出現屬本集團未知悉之 these interests may, in themselves or when combined with other indirect 控股權益。然而，本集團表述，計及國際會計準則 interests, be controlling interests which may not be known to the Group. 第24號之豁免，下文載列有關重大關聯方。
Nevertheless, the Group represented that the following captures the
material related parties taking into account the exemption under IAS 24.
(1) The Group and Henan SASAC (1)本集團及河南省國資委
The Group has transactions with entities controlled, jointly controlled 本集團與受河南省國資委控制、共同控制或重 or significantly influenced by Henan SASAC (“Henan SASAC related 大影響之實體（「河南省國資委相關實體」）有交 entities”) and the transactions details are as follow: 易往來，該等交易之詳情如下：
Six months ended 30 June截至六月三十日止六個月
||
|-|
|2014|
|二零一四年|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|374,351|
|386,508|

Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
22. Related party transactions
(Continued)
22.關聯方交易（續）
(1) The Group and Henan SASAC
(Continued)
(1)本集團及河南省國資委（續）
For the six months ended 30 June 2014, revenue from Henan SASAC 截至二零一四年六月三十日止六個月，來自 related entities accounted for11.8% of total revenue (30 June 2013: 河南省國資委相關實體之收益分別佔總收益3.2%). Purchases from Henan SASAC related entities for the same 11.8%（二零一三年六月三十日：3.2%）。同 period accounted for15.1% of total cost of sales (30 June 2013: 期，來自河南省國資委相關實體之採購額分別16.2%). 佔總銷售成本15.1%（二零一三年六月三十日：16.2%）。
The directors are of the opinion that the above transactions with 董事認為上述與河南省國資委相關實體之交易 Henan SASAC related entities were conducted in the ordinary course 乃於日常業務過程中進行。
of business.
The details of outstanding balances with Henan SASAC and Henan 涉及河南省國資委及河南省國資委相關實體之 SASAC related entities are set as follow: 未償還結餘詳情載列如下：
||
|-|
|At 30 June2014|
|於二零一四年六月三十日|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|157,109|
|2,459|

 Except for the amount due to Henan SASAC which is unsecured, 除應付河南省國資委之款項為無抵押、免息及 interest-free and repayable on demand, all the amounts due from 須按要求償還外，應收河南省國資委相關實體 Henan SASAC related entities are from trade sales or purchases. The 之所有款項均來自貿易銷售或採購。與河南省 outstanding balances with Henan SASAC and Henan SASAC related 國資委及河南省國資委相關實體之未償還結餘 entities have been included in note 16 and note 19, respectively. 分別於附註16及附註19闡述。
(2) The Group and other PRC government related (2)本集團與其他中國政府相關實體 entities
Apart from the significant transactions with Henan SASAC related 除上文所載與河南省國資委相關實體進行之重 entities set out above, during the six months ended 30 June 2014 大交易外，於截至二零一四年六月三十日及二 and 30 June 2013, theGroup’s transactions with other PRC 零一三年六月三十日止六個月，本集團與其他 government related entities are collectively significant as a large 中國政府相關實體進行之交易全部均屬重大， portion of its sales of goods, purchases of materials, most of bank 因其於截至二零一四年六月三十日及二零一三 deposits, borrowings, other general banking facilities and the relevant 年六月三十日止六個月之大部分貨品銷售、物
interest income earned and expenses incurred during the six months 料採購、大部分銀行存款、借貸、其他一般銀
ended 30 June 2014 and 30 June 2013 are transacted with banks 行融資以及已賺取相關利息收入及已產生開支
owned/controlled by the PRC government. 均涉及與中國政府所擁有╱控制的銀行進行之
交易。
Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
22. Related party transactions
(Continued)
22.關聯方交易（續）
(2) The Group and other PRC government related (2)本集團與其他中國政府相關實體 entities
(Continued) （續）
In the opinion of the directors of the Company, the transactions with 本公司董事認為，該等與中國政府相關實體進 PRC government related entities are activities in the ordinary course 行之交易乃本集團之日常業務活動，並按一般 of theGroup’s business and entered into under normal commercial 商業條款及條件訂立，而本集團進行該等交易 terms and conditions, and that the dealings of the Group have not 並無因本集團與該等實體屬政府相關機構而 been significantly or unduly affected by the fact that the Group and 受到重大或不當影響。本集團亦就貨品銷售及 those entities are government related. The Group has also established 物料採購設立批核程序，並就借貸設定融資政 its approval process for sales of goods and purchases of materials 策，該等批核程序及融資政策並不取決於交易 and its financing policy for borrowings, such approval process and 對手是否屬中國政府相關實體。
financing policy do not depend on whether the counterparties are
government related entities or not.
(3) The Group and its associates and joint ventures (3)本集團與其聯營公司及合營企業 The Group had the following significant transactions with its associates 於截至二零一四年六月三十日及二零一三年六 and joint ventures during the six months ended 30 June 2014 and 月三十日止六個月，本集團曾與其聯營公司及 30 June 2013: 合營企業進行下列重要交易：
Six months ended 30 June截至六月三十日止六個月
||
|-|
|2014|
|二零一四年|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|21,055|
|5,864|
|26,919|
|52,487|
|5,771|
|58,258|

Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
22. Related party transactions
(Continued)
22.關聯方交易（續）
(3) The Group and its associates and joint ventures (3)本集團與其聯營公司及合營企業 (Continued) （續）
The Group had the following outstanding balances with its associates 於各報告期末，本集團與其聯營公司及合營企 and joint ventures at the end of each reporting period: 業有以下未償還結餘：
||
|-|
|At 30 June2014|
|於二零一四年六月三十日|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|233,926|
|2,182|
|236,108|
|34,777|
|2|
|34,779|

 The outstanding balances with theGroup’s associates and joint 與本集團聯營公司及合營企業之未償還結餘於 ventures have been included in note 16 and note 19, respectively. 附註16及附註19載述。
(4) Remuneration of key management personnel (4)主要管理人員酬金
The remuneration of directors and other members of key 董事及其他主要管理人員之酬金如下： management were as follows:
Six months ended 30 June截至六月三十日止六個月
||
|-|
|2014|
|二零一四年|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|8,057|
|745|
|8,802|

The remuneration of key management personnel is determined with
主要管理人員之酬金乃根據個人表現與市場趨
reference of the performance to individuals and market trends.
勢釐定。
Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
23. Fair value measurements of financial instruments 23.金融工具公平值計量
Some of theGroup’s financial assets and financial liabilities are measured 本集團部分金融資產及金融負債於各報告期末按公 at fair value at the end of each reporting period. The following table 平值計量。下表所載資料說明該等金融資產及金融 gives information about how the fair values of these financial assets and 負債公平值之釐定方式（尤其是所用之估值方法及 financial liabilities are determined (in particular, the valuation techniques 輸入數據），以及根據公平值計量輸入值可觀察程 and inputs used), as well as the level of the fair value hierarchy into which 度對公平值計量分級的公平值層級（1至3級）。
the fair value measurements are categproised (levels 1 to 3) based on the
degree to which the inputs to the fair value measurements is observable.
• Level 1 fair value measurements are those derived from quoted •第1級公平值計量是指相同資產及負債在活躍 prices (unadjusted) in active market for identical assets or liabilities; 市場所報價格（未經調整）；
• Level 2 fair value measurements are those derived from inputs other •第2級公平值計量是指就資產或負債直接（即作 than quoted prices included within Level 1 that are observable for the 為價格）或間接（即從價格衍生）可觀察之輸入 asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived 數據（包括於第一級內之報價除外）；及 from prices); and
• Level 3 fair value measurements are those derived from valuation •第3級公平值計量是指資產或負債輸入數據並 techniques that include inputs for the asset or liability that are not 非根據可觀察輸入數據（不可觀察輸入值）的估 based on observable market data (unobservable inputs). 值技巧中衍生。
Fair value Valuation technique Financial assets as at 30 June 2014 Fair value hierarchy and key input
於二零一四年
金融資產 六月三十日之公平值 公平值等級 估值方法及重要輸入數據 Listed AFS investments Listed equity securities in Hong Kong Level 1 Quoted bid prices in an active– Coal industry– market
– RMB49,467,000
上市可供出售投資 於香港的上市股本證券 第1級 於活躍市場所報之買盤價–煤炭行業
–人民幣49,467,000元
There were no transfers between Level 1 and 2 in the period. 期內第1級與第2級之間並無轉撥。
Fair value of financial assets and financial liabilities that 並非根據經常性基準按公平值計量之 are not measured at fair value on a recurring basis 金融資產及金融負債之公平值 The directors consider that the carrying amounts of financial assets and 董事認為，於綜合財務報表內按攤銷成本記錄之金 financial liabilities recorded at amortised cost in the consolidated financial 融資產及金融負債的賬面值與其公平值相若。
statements approximate their fair values.
Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
For the six months ended 30 June 2014截至二零一四年六月三十日止六個月
24. Contingent liabilities 24.或然負債
During the period, the Group has endorsed and derecognised certain bills 於期間，本集團以背書及終止確認若干應收票據之 receivable for the settlement of trade and other payables. In the opinion 方式結算貿易及其他應付款項。本公司董事認為， of the directors of the Company, the risk of the default in payment of the 由於所有背書及取消確認之應收票據乃由聲譽良好 endorsed and derecognized bills receivable is low because all endorsed 之中國銀行發出及提供擔保，故欠付背書及取消確 and derecognized bills receivable are issued and guaranteed by the 認之應收票據之風險不大。於各報告期末，本集團 reputable PRC banks. The maximum exposure to the Group that may result 可能因欠付該等背書及取消確認之應收票據而須承 from the default of these endorsed and derecognised bills receivable at the 擔之最大風險如下：
end of each of reporting period are as follows:
||
|-|
|At 30 June2014|
|於二零一四年六月三十日|
|RMB’000|
|人民幣千元|
|(unaudited)|
|（未經審核）|
|1,406,721|