TigerResearch/tigerbot-earning-plugin huggingface dataset:
The asset and liability items in the balance sheets shall be translated at a spot exchange rate on the balance sheet date. Among the owner’s equity items, except for the items as “retained earnings”, other items shall be translated at the spot exchange rate at the time when they are incurred. The income and expense items in the income statements shall be translated at the spot exchange rate at the time when they are incurred. The difference from translation of foreign currency financial statements thereof shall be recognized as comprehensive income.
10. Financial Instruments
1. Recognition and derecognition of financial instruments
When the Group becomes a party to a financial instrument contract, it recognizes relevant financial assets or financial liabilities.
All regular acquisition or sales of financial assets are recognized and derecognized on a trading day basis. Regular acquisition or sales of financial assets means delivering financial assets within the time limit of laws, regulations and usual market practices and in line with contract terms. The trading day refers to the date when the Group promises to acquire or sell financial assets.
Financial assets (or part of financial assets, or part of a set of similar financial assets) are derecognized, i.e., written off from its account and balance sheet, if the following conditions are met:
(1) The right to receive cash flows from financial assets has expired;
(2) The right to receive cash flows from the financial assets is transferred, or the obligation to pay the full amount of cash flows received to a third party in a timely manner is assumed under a "pass-through agreement"; and (a) substantially almost all the risks and rewards of its ownership of the financial assets are transferred, or (b) control over the financial asset is relinquished, although substantially all the risks and rewards of its ownership of the financial assets are neither transferred nor retained.
2. Classification and measurement of financial assets
At initial recognition, according to the business model of managing financial assets and the contractual cash flow characteristics of financial assets, financial assets of the Group are classified into the following categories: Financial assets measured at the amortized cost, financial assets measured at fair value through other comprehensive income of the current period, and financial assets measured at fair value through profit and loss for the current period. The subsequent measurement of financial assets depended on their categories.
The Group's classification of financial assets is based on the Group's business model for managing financial assets and the cash flow characteristics of the financial assets.
(1) Financial assets measured at amortized cost
Financial assets that meet both of the following conditions shall be classified as financial assets measured at amortized cost: The Group's business model of managing the financial assets aims at obtaining contractual cash flows; and, as stipulated by contract clauses of the financial assets, the cash flows generated on a specific date are merely for the payment of principal or interest from the unpaid principal. Such financial assets are subsequently measured at amortized cost using the effective interest method. Gain or loss arising from derecognition or amortization using the effective interest method is included in profit and loss for the current period.
(2) Debt instrument investment measured at fair value through other comprehensive income
Financial assets that meet all the following conditions shall be classified as financial assets measured at fair value through other comprehensive income: The Group's business model of managing the financial assets aims at obtaining contractual cash flows as well as selling financial assets; and, as stipulated by contract clauses of the financial assets, the cash flows generated on a specific date are merely for the payment of principal or interest from the unpaid principal. Such financial assets shall be subsequently measured at fair value. The discount or premium is amortized using the effective interest method and recognized as interest income or expense. Except for impairment losses or gains and exchange differences that are recognized as profit and loss for the current period, changes in the fair value of such financial assets shall be recognized as other comprehensive income, until the financial assets are derecognized when accumulative gains or losses shall be transferred to profit and loss for the current period. Interest income related to such financial assets is included in profit or loss for the current period.
(3) Equity instrument investment measured at fair value through other comprehensive income
For financial assets measured at fair value through other comprehensive income that are irrevocably chosen and designated by the Group from some non-trading equity instruments, the relevant dividend income shall be included in profit and loss for the current period and changes in the fair value shall be recognized as other comprehensive income, until the financial assets are derecognized when accumulative gains or losses shall be transferred to retained earnings.
(4) Financial assets measured at fair value through profit and loss for the current period
The aforementioned financial assets measured at amortized cost and financial assets other than those measured at fair value through other comprehensive income are classified as financial assets measured at fair value through profit and loss for the current period.At initial recognition, in order to eliminate or significantly reduce accounting mismatch, financial assets can be designated as financial assets measured at fair value through profit or loss for the current period. Such financial assets shall be measured at fair value, and all changes in fair value are included in the profit and loss for the current period.
When and only when the Group changes its business model of managing financial assets, all relevant financial assets affected will be re-classified.
For financial assets measured at fair value through profit and loss for the current period, transaction costs are directly included in profit and loss for the current period. For other types of financial assets, related transaction costs are included in their initial recognized amounts.
3. Classification and measurement of financial liabilities
At initial recognition, the financial liabilities of the Group are classified into the following categories: Financial liabilities measured at the amortized cost, and financial liabilities measured at fair value through profit and loss for the current period.
Financial liabilities can be designated as financial liabilities measured at fair value through profit or loss for the current period at initial measurement if one of the following conditions is met: (1) The designation can eliminate or significantly reduce accounting mismatch; (2) the management and performance evaluation of a portfolio of financial liabilities or a portfolio of financial assets and financial liabilities are based on fair value in accordance with the Group's risk management or investment strategy as set out in a formal written document, and are reported to key management personnel on this basis within the Group; (3) The financial liabilities contain embedded derivatives require splitting.
The Group determines the classification of financial liabilities at initial recognition. For financial liabilities measured at fair value through profit and loss for the current period, transaction costs are directly included in profit and loss for the current period. For other types of financial liabilities, related transaction costs are included in their initial recognized amounts.
The subsequent measurement of financial liabilities depended on their categories:
(1) Financial liabilities measured at amortized cost
Such financial liabilities shall be subsequently measured at amortized cost using the effective interest method.
(2) Financial liabilities measured at fair value through profit and loss for the current period
Financial liabilities measured at fair value through profit or loss for the current period include trading financial liabilities (including derivatives that are financial liabilities) and financial liabilities designated as at fair value through profit or loss at initial recognition.
4. Financial instrument offset
The net amount after financial assets and financial liabilities offset each other is reported in the balance sheet if both of the following conditions are met: The Group had a currently enforceable legal right to offset the recognized amounts; the Group planned to settle them on a net basis or to realize the financial assets and pay off the financial liabilities simultaneously.
5. Impairment of financial instrument
(1) Impairment measurement and accounting handling of financial instrument
Based on expected credit loss, the Company conducts impairment handling and confirms loss reserve for financial assets which is measured by amortized cost, debt instrument investment which is measured by fair value and whose change is calculated into other comprehensive profits, accounts receivable of rental, loan commitment which is beyond financial debt classified as the one which is measured by fair value and whose change is calculated into current profits and losses, financial debt which does not belong to the one which is measured by fair value and whose change is calculated into current profits or losses, or financial guarantee contract of financial debt which is formed when it does not belong to financial asset transfer and doesn’t conform to confirmation condition of termination or keeps on being involved in transferred financial asset.
Expected credit loss refers to weighted average of credit loss of financial instrument which takes the risk of contract breach occurrence as the weight. Credit loss refers to the difference between all contract cash flow which is converted into cash according to actual interest rate and receivable according to contract and all cash flow which to be charged as expected, i.e. current value of all cash shortage. Among it, as for financial asset purchased or original which has had credit impairment, it should be converted into cash according actual interest rate of this financial asset after credit adjustment.
As for financial asset purchased or original which has had credit impairment, the Company only confirms cumulative change of expected credit loss within the whole duration after initial confirmation on the balance sheet date as loss reserve.
As for accounts receivable which don’t include major financing contents or the Company does not consider financing contents in contract which is less than one year, the Company applies simplified measurement method, and measures loss reserve according to amount of expected credit loss within the whole duration.
As for account receivable of rental and accounts receivable including major financing contents, the Company applies simplified measurement method, and measure loss reserve according to amount of expected credit loss within the whole duration.
As for financial asset beyond above mentioned measurement methods, the Company evaluates whether its credit risk has increased obviously since the initial confirmation on each balance sheet date. In case credit risk has increased obviously, the Company measures the loss reserve according to amount of expected credit loss within the whole duration; in case the credit risk does not increase obviously, the Company measures loss reserve according to the amount of expected credit loss in next 12 months.
By utilizing obtainable rational and well grounded information, including forward-looking information, comparing the risk of contract breach on balance sheet date and risk of contract breach on initial confirmation date, the Company confirms whether the credit risk of financial instrument has increased obviously from initial confirmation.
On balance sheet date, in case the Company judges that the financial instrument just has relatively low credit risk, then it will be assumed that credit risk of the financial instrument has not increased obviously.
Based on single financial instrument or financial portfolio, the Company evaluates expected credit risk and measures expected credit loss.When based on financial instrument portfolio, the Company takes common risk characteristics as the basis, and divides financial instruments into different portfolios.
The Company measures expected credit loss again on each balance sheet date, the increase of loss reserve or amount which is transfer back generated by it is calculated into current profits and losses as impairment profits or losses. As for financial asset which is measured by amortized cost, loss reserve offsets the carrying value of the financial asset listed in the balance sheet; as for debt investment which is measured by fair value and whose change is calculated into other comprehensive profits, the Company confirms its loss reserve in other comprehensive profits and does not offset the carrying value of the financial asset.
(2) Financial instruments assessing expected credit risk by groups and measuring expected credit losses||||||||||
||| Item|||| Recognition basis| Method of measuring expected credit losses||
 Other  Consulting historical experience|receivables-intercourse||||funds|among| Accounts nature|in|credit|losses,
related|party|group|within|the|consolidation|||combining actual situation and prediction for future economic situation, the group’s expected credit loss rate shall be accounted through exposure at default||
scope||||||||||
 Other receivables-interest receivable group||||||||||
 Other months or the entire life|receivables-other|||intercourse||funds||and the expected credit loss rate within the next 12||
among related party group||||||||||
 Other  Consulting historical experience|receivables-credit|||risk|characteristics|| Aging group|in|credit|losses,
group||||||||combining actual situation and prediction for future economic situation, the group’s expected credit loss rate shall be accounted through exposure at default and the expected credit loss rate within the next 12 months or the entire life||
(3)Accounts receivable with expected credit losses measured by groups1Specific groups and method of measuring expected credit loss
Item| Recognition basis| Method of measuring expected credit losses|||||
 Bank’s acceptance bills receivable| Bill type| Consulting|historical|experience|in|credit|losses,
 Trade acceptance bills receivable||combining actual situation and prediction for future economic situation, the group’s expected credit loss|||||
|||||rate shall be accounted through exposure at default and the expected credit loss rate within the entire life||||||||
 Accounts|receivable-other|intercourse|funds| Account nature| Consulting||historical|||experience||in|credit
among related party group|||||combining actual situation and prediction for future economic situation, the group’s expected credit loss rate shall be accounted through exposure at default and the expected credit loss rate within the entire life||||||||
 Accounts receivable-credit||risk|characteristics| Aging group| Prepare||the|comparative|||list|between|aging
group|||||accounts receivable and expected|||||||credit|
|||||over|the|entire||life|by|consulting||
|||||experience||in||credit|losses,||combining|
|||||situation||and||prediction||for|future|
|||||situation||||||||
2Accounts receivable-the comparative list between aging of common customer group and expected credit loss rate over the entire life
Aging| Expected credit loss rate of accounts receivable (%)
 Within 1 year (inclusive, the same below)|3.00
1 to 2 years|10.00
2 to 3 years|30.00
3 to 4 years|50.00
4 to 5 years|80.00
 Over 5 years|100.00
6. Financial asset transfer
Financial assets are derecognized if the Group has transferred almost all the risks and rewards of its ownership transferred to the transferor; financial assets are not derecognized if the Group has retained almost all the risks and rewards of its ownership.
If the Group has neither transferred nor retained almost all the risks and rewards of its ownership of the transferred financial assets, it will be treated respectively according to the following circumstances: If the control over the financial assets is waived, relevant financial assets shall be derecognized, and the assets and liabilities arising from them shall be recognized; if the control over the financial assets is not waived, relevant financial assets shall be recognized based on the extent of continuing involvement with transferred financial assets, and related liabilities shall be recognized accordingly.
If continuing involvement is provided by way of financial guarantee for the transferred financial assets, the assets resulting from the continuing involvement are recognized at the lower of the carrying value of the financial assets and the financial guarantee amount. The financial guarantee amount refers to the maximum amount of the consideration received that will be required to be repaid.
11. Notes Receivable
Refer to Note V 10 Financial Instruments of the financial statements for details.
12. Accounts Receivable
13. Accounts Receivable Financing
14. Other Receivables
Recognition and accounting treatment methods regarding expected credit losses of other receivables Refer to Note V 10 Financial Instruments of the financial statements for details.
15. Inventory
(1) Inventories Classification
Inventories include development land held for sale or consumption in the process of development and operation, development products, temporarily leased development products which intended for sale, relocation housing, stock materials, inventory equipment, and low-value consumables, etc., as well as development costs in the process of development.
(2) Cost FlowAssumption
1) Send-out materials shall adopt the moving weighted average method.
2) During the development of the project, the development land shall be included in the development cost of the project by the floor area apportion of the developed products.
3) Send-out developed products shall be accounted by specific identification method.
4) The temporarily leased development products which intended for sale and relocation housing shall be amortized averagely by stages according to the expected useful life of the same kind of fixed assets of the Company.
5) If the public supporting facilities are completed earlier than the relevant development products, after the final account of the public supporting facilities,it shall be account into the development cost of the relevant development projects according to the building area; If the public supporting facilities are completed later than the relevant development products, the relevant development products shall withhold the public supporting facilities fees, and adjust the relevant development product costs according to the difference between the actual occurrence and the withhold amount after the completed public supporting facilities' final accounts.
(3) Recognition basis of Net Realizable Value of Inventory
On the balance sheet date, inventory shall be measured at the lower of cost or net realizable value, and provision shall be made for falling price of inventories on the ground of the difference between the cost of each item of inventories and the net realizable value. Inventories directly for sale, under normal producing process, to the amount after deducting the estimated sale expense and relevant taxes from the estimated sell price of the inventory, the net realizable value has been recognized; inventories which need to be processed, under normal producing process, to the amount after deducting the estimated cost of completion, estimated sale expense and relevant taxes from the estimated sale price of produced finished goods, the net realizable value has been recognized; on the balance sheet date, in the same item of inventories, if some have contractual price agreement while others do not, the net realizable value shall be recognized respectively and compared with their cost, and the amount of provision withdrawal or reversal for falling price of inventories shall be recognized respectively.
(4) Inventory System for Inventories
Inventory system: Perpetual inventory system
(5)AmortizationMethod of the Low-value Consumption Goods and PackingArticles
1) Low-value Consumption Goods One-off amortization method
2) PackingArticles
One-off amortization method
16. Contract Assets
The Company presents contract assets or contract liabilities on the balance sheet according to the relationship between the fulfillment of its contract performance obligations and its customers’payment. Considerations that the Company has the right to collect for commodities transferred or services provided to customers (except for accounts receivable) are presented as contract assets.
For contract assets that do not contain significant financing components, the Company uses the simplified model of expected credit loss, measuring the loss provision according to an amount that is equivalent to the amount of expected credit loss of the entire duration. The increased loss provision or reversed amount thereof shall be recorded into the current profit or loss as impairment losses or gains.
For contract assets that contain significant financing components, the Company has made the accounting policy choice and selected the simplified model of expected credit loss, measuring the loss provision according to an amount that is equivalent to the amount of expected credit loss of the entire duration. The increased loss provision or reversed amount thereof shall be recorded into the current profit or loss as impairment losses or gains.
17. Contract Costs
Contract costs comprise contract performance cost and contract acquisition cost.
The cost incurred by the Company from performing a contract is recognized into an asset as contract performance cost when it meets the following conditions:
This cost directly relates to an existing contract or a contract expected to be acquired. It consists of direct labor, direct materials, manufacture costs (or similar costs), costs specified to be borne by the customer and other costs incurred from this contract solely. This cost has increased the Company’s sources that are used to fulfill its contract performance obligations in the future.
This cost is expected to be recovered.
An incremental cost that is incurred by the Company for acquiring a contract and expected to be recovered is recognized into an asset as contract acquisition cost. However, for such asset with an amortization period of less than one year, the Company recognizes them into current profit/loss at their occurrence.
Assets related to contract costs are amortized on the same basis for recognizing the revenue from commodities or services related to such assets.
When the carrying value of an asset related to contract costs is higher than the difference between the following two items, the Company will withdraw impairment provision for the exceeded part and recognize it as asset impairment loss:
Residual consideration expected to be gained from transferring commodities and services related to this asset; Costs expected to be incurred from transferring such commodities or services.
When the aforementioned asset impairment provision is reversed later, the carrying value of the asset after the reversal should not exceed its carrying value on the reversal date under the assumption of no withdrawal of impairment provision.
18. Assets Held for Sale