XML 36 R22.htm IDEA: XBRL DOCUMENT

EQUITY

12 Months Ended

Dec. 31, 2018

Disclosure of classes of share capital [abstract]

EQUITY

16.

EQUITY

(a)

Issued capital


	December 31,
	2016		2017		2018		2018
	CNY		CNY		CNY		US$

Authorized:
10,000,000 preferred shares, no par		—		—		—		—
200,000,000 ordinary shares, no par		—		—		—		—

Issued and fully paid:
24,910,916 (2016 and 2017: 24,910,916) common shares, no par		312,081		312,081		312,081		45,371

(b)

Other capital reserves


	Other capital reserves
	CNY

At January 1, 2016		636,960
Deemed contribution from a related party*		55,558
At December 31, 2016, 2017 and 2018		692,518
At December 31, 2018 (US$)		100,679

———————

On December 23, 2016, Feishang Hesheng waived a payment of CNY55.56 million (US$8.00 million) indebtedness owed to it by Double Grow.

(c)

Dividend restrictions and reserves

Due to the Group's structure, the payment of dividends is subject to numerous controls imposed under PRC law, including foreign exchange control on the conversion of the local currency into United States dollars and other currencies.

In accordance with the relevant PRC regulations and the Articles of Association of Wuhu Feishang, appropriations of net income as reflected in its PRC statutory financial statements are to be allocated to each of the general reserve and enterprise expansion reserve, respectively, as determined by the resolution of the Board of Directors annually. No amounts were appropriated to the general reserve and enterprise expansion reserve in 2016, 2017 and 2018.