ࡱ > \ _ S T U V W X Y Z [ )` R J) bjbj $ { { x o # # # # # # # $ ; ; ; < @ $ J bI V K | 4L 4L 4L M v S qU $ I h N # gl M M gl gl # # 4L 4L gl ) # 4L # 4L gl # # 4L VI xوn ; G n е 2 T. 0 ص 6 # # iV p [ _ b iV iV iV iV iV iV gl gl gl gl $ $ $ ; $ $ $ ; $ $ $ # # # # # # DN1 N2m _SL7>kR\zfNOx:SWn|~9eib^yv2 0 1 8 t^"R6e/eTyv gbL`Q[bJT -NNSNlqQTVR\^[@\ Q i n g d a o M u n i c i p a l A u d i t O f f i c e o f t h e P e o p l e s R e p u b l i c o f C h i n a [ b JT A u d i t R e p o r t R[Yb02 0 1 9 01 8 S Q I N G D A O A U D I T R E P O R T 02 0 1 9 0N O . 1 8 yv Ty N2m _SL7>kR\zfNOx:SWn|~9eib^yv P r o j e c t N a m e : Q i n g d a o S m a r t L o w - C a r b o n D i s t r i c t E n e r g y P r o j e c t F i n a n c e d b y t h e A s i a n D e v e l o p m e n t B a n k 7 >k S 3 3 5 8 - P R C L o a n N o . : 3 3 5 8 - P R C yvgbLUSMOR\nƖV gPlQS P r o j e c t E n t i t y : Q i n g d a o E n e r g y G r o u p Ot^^ 2 0 1 8 A c c o u n t i n g Y e a r 2 0 1 8 v U_ C o n t e n t s T O C \ o " 1 - 3 " \ h \ z \ u H Y P E R L I N K \ l " _ T o c 1 1 9 3 7 4 3 9 " N0[^a P A G E R E F _ T o c 1 1 9 3 7 4 3 9 \ h 1 H Y P E R L I N K \ l " _ T o c 1 1 9 3 7 4 4 0 " I . A u d i t o r s O p i n i o n P A G E R E F _ T o c 1 1 9 3 7 4 4 0 \ h 3 H Y P E R L I N K \ l " _ T o c 1 1 9 3 7 4 4 1 " N0"RbhS"RbhDl P A G E R E F _ T o c 1 1 9 3 7 4 4 1 \ h 6 H Y P E R L I N K \ l " _ T o c 1 1 9 3 7 4 4 2 " a!. F i n a n c i a l S t a t e m e n t s a n d N o t e s t o t h e F i n a n c i a l S t a t e m e n t s P A G E R E F _ T o c 1 1 9 3 7 4 4 2 \ h 6 H Y P E R L I N K \ l " _ T o c 1 1 9 3 7 4 4 3 " N Dёs^ah P A G E R E F _ T o c 1 1 9 3 7 4 4 3 \ h 6 H Y P E R L I N K \ l " _ T o c 1 1 9 3 7 4 4 4 " i . B a l a n c e S h e e t P A G E R E F _ T o c 1 1 9 3 7 4 4 4 \ h 6 H Y P E R L I N K \ l " _ T o c 1 1 9 3 7 4 4 5 " N yvۏ^h P A G E R E F _ T o c 1 1 9 3 7 4 4 5 \ h 8 H Y P E R L I N K \ l " _ T o c 1 1 9 3 7 4 4 6 " i i . S u m m a r y o f S o u r c e s a n d U s e s o f F u n d s b y P r o j e c t C o m p o n e n t P A G E R E F _ T o c 1 1 9 3 7 4 4 6 \ h 8 H Y P E R L I N K \ l " _ T o c 1 1 9 3 7 4 4 7 " N 7>kOS[gbL`Qh P A G E R E F _ T o c 1 1 9 3 7 4 4 7 \ h 2 2 H Y P E R L I N K \ l " _ T o c 1 1 9 3 7 4 4 8 " i i i . S t a t e m e n t o f I m p l e m e n t a t i o n o f L o a n A g r e e m e n t P A G E R E F _ T o c 1 1 9 3 7 4 4 8 \ h 2 2 H Y P E R L I N K \ l " _ T o c 1 1 9 3 7 4 4 9 " V N(u&7bbh P A G E R E F _ T o c 1 1 9 3 7 4 4 9 \ h 2 3 H Y P E R L I N K \ l " _ T o c 1 1 9 3 7 4 5 0 " i v . S p e c i a l A c c o u n t S t a t e m e n t P A G E R E F _ T o c 1 1 9 3 7 4 5 0 \ h 2 3 H Y P E R L I N K \ l " _ T o c 1 1 9 3 7 4 5 1 " N "RbhDl P A G E R E F _ T o c 1 1 9 3 7 4 5 1 \ h 2 5 H Y P E R L I N K \ l " _ T o c 1 1 9 3 7 4 5 2 " v . N o t e s t o t h e F i n a n c i a l S t a t e m e n t s P A G E R E F _ T o c 1 1 9 3 7 4 5 2 \ h 2 9 H Y P E R L I N K \ l " _ T o c 1 1 9 3 7 4 5 3 " N0[SsvS^ P A G E R E F _ T o c 1 1 9 3 7 4 5 3 \ h 3 3 H Y P E R L I N K \ l " _ T o c 1 1 9 3 7 4 5 4 " I I I . A u d i t F i n d i n g s a n d R e c o m m e n d a t i o n s P A G E R E F _ T o c 1 1 9 3 7 4 5 4 \ h 3 7 N0[^a [^a R\nƖV gPlQS bN[NN2m _SL7>kR\zfNOx:SWn|~9eib^yv2 0 1 8 t^1 2 g3 1 evDёs^ahS*beTt^^vyvۏ^h07>kOS[gbL`QhTN(u&7bbhI{yr[vv"RbhS"RbhDl,{6 u,{3 2 u 0 N yvgbLUSMOSR\^"?e@\["Rbhv#N 6R N"Rbh-NvDёs^ah0yvۏ^hS7>kOS[gbL`Qh/f`OUSMOv#N6RN(u&7bbh/fR\^"?e@\v#Nُy#NSb 1 cgq-NVvOQR0O6R^T,gyv7>kOS[vBl6Ryv"Rbhv^OvQ[slQAQS f 2 0gbLT~b_vQ萧c6RNOyv"Rbh NX[(W1uN _b[v͑'Yb0 N [#N bNv#N/f(WgbL[]\OvW@x N["RbhSh[a0bN cgq-NVV[[QRTVE[QRvĉ[gbLN[]\O NQRBlbNu[[LNBlRTgbL[]\ON[yv"Rbh/f&T NX[(W͑'YbSTtO0 :NS gsQ"RbhёTb2Oo`v gsQncbN[eN_v[z^0bNЏ(uLN$Re b[z^ُNz^Sb[1uN _b[v"Rbh͑'YbΘivċ0O0(WۏLΘiċ0Oe:NNp`S_v[z^bNQNN"RbhvsQvQ萧c6RFOvvv^^[Q萧c6Rv gHe'`Sha0[]\O؏SbċN@b (uO?eV{vp`S_'`T\OQO0OvTt'`NSċN"Rbhv;`SORb0 bNvObNSv[nc/fS_v0EQRv:NSh[acONW@x0 N [a bN:N,{ Nk@bR"Rbh(W@b g͑'Yeb cgq-NVvOQR0O6R^T,gyv7>kOS[vBl6RlQAQS fNR\zfNOx:SWn|~9eib^yv2 0 1 8 t^1 2 g3 1 ev"RrQS*beTt^^v"R6e/e0yvgbLTN(u&7b6e/e`Q0 V vQNNy bN[gN,ggQ1uR\^"?e@\b~N2m _SLv,{0 2 0 4 Sc>k3ufNS@bDDe0bN:NُNDeGW&{T7>kOSvBlSN\O:N3uc>kvOnc0 ,g[^aKNTqQTgb[bJTv؏ g$NyQ["RbhS"RbhDlT[SsvS^0 -NNSNlqQTVR\^[@\ 2 0 1 9 t^6 g2 0 e 0W@W-NVq\NwR\^q\N1 2 S2u ?ex2 6 6 0 7 1 5u8 6 - 5 3 2 - 8 3 8 6 7 6 0 8 Ow8 6 - 5 3 2 - 8 3 8 8 3 4 4 8 I . A u d i t o r s O p i n i o n A u d i t o r s O p i n i o n T o Q i n g d a o E n ergy Group We have audited the special purpose financial statements (from page 6 to page 32) of Qingdao Smart Low-Carbon District Energy Project Financed by the Asian Development Bank, which comprise the Balance Sheet as of December 31, 2018, the Summary of Sources and Uses of Funds by Project Component, the Statement of Implementation of Loan Agreement and the Special Account Statement for the period then ended, and Notes to the Financial Statements. Project Entity and Qingdao Municipal Financial Bureau's Responsibility for the Financial Statements The preparation of the Balance Sheet, the Summary of Sources and Uses of Funds by Project Component and the Statement of Implementation of Loan Agreement is the responsibility of your entity, while the preparation of the Special Account Statement is the responsibility of Qingdao Municipal Financial Bureau, which includes: i. Preparing and fair presenting the accompanying financial statements in accordance with Chinese accounting standards and system, and the requirements of the project loan agreement; ii. Designing, implementing and maintaining necessary internal control to ensure that the financial statements are free from material misstatement, whether due to fraud or error. Auditors Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Government Auditing Standards of the Peoples Republic of China and International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entities preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entitys internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is appropriate and sufficient to provide a basis for our audit opinion. Opinion In our opinion, the financial statements identified in the first paragraph present fairly, in all material respects, financial position of Qingdao Smart Low-Carbon District Energy Project Financed by the Asian Development Bank as of December 31, 2018, its financial receipts and disbursements, the project implementation and the receipts and disbursements of the special account for the period then ended in accordance with Chinese accounting standards and system, and the requirements of the project loan agreement. Other Matter We also examined the withdrawal application from No.02 to No. 04 and the attached documents submitted to the Asia Development Bank during the period. In our opinion, those documents comply with the project loan agreement and can serve as basis for loan withdrawal. The audit report consists of the Auditors Opinion and two more parts hereinafter: Financial Statements and Notes to the Financial Statements, Audit Findings and Recommendations. Qingdao Municipal Audit Office of the Peoples Republic of China June 20, 2019 Address: No. 12 A, Shandong Road, Qingdao City, Shandong Province, P.R. China Postcode: 266071 Tel.: 86-532-83867608 Fax: 86-532-83883448 The English translation is for the convenience of report users; Please take the Chinese audit report as the only official version. N0"RbhS"RbhDl a!. F i n a n c i a l S t a t e m e n t s a n d N o t e s t o t h e F i n a n c i a l S t a t e m e n t s N Dёs^ah i . B a l a n c e S h e e t D ё s^ a h B A L A N C E S H E E T 2 0 1 8 t^1 2 g3 1 e ( A s o f D e c e m b e r 3 1 , 2 0 1 8 ) yv TyN2m _SL7>kR\zfNOx:SWn|~9eib^yv P r o j e c t N a m e : Q i n g d a o S m a r t L o w - C a r b o n D i s t r i c t E n e r g y P r o j e c t F i n a n c e d b y t h e A s i a n D e v e l o p m e n t B a n k bUSMOR\nƖV gPlQS '^USMONl^CQ P r e p a r e d b y : Q i n g d a o E n e r g y G r o u p C u r r e n c y U n i t : R M B Y u a n D ё `S (u A p p l i c a t i o n o f F u n d L!kL i n e N o . gRpe B e g i n n i n g B a l a n c e g+gpe E n d i n g B a l a n c e D ё eg n S o u r c e s o f F u n d L!kL i n e N o . gRpe B e g i n n i n g B a l a n c e g+gpe E n d i n g B a l a n c e N0yv/eQT T o t a l P r o j e c t E x p e n d i t u r e s 1 3 1 , 4 3 8 , 4 3 8 . 3 0 1 1 0 , 4 7 9 , 7 3 5 . 9 6 N0yvb>kT T o t a l P r o j e c t A p p r o p r i a t i o n F u n d s 2 8 1 6 , 1 8 0 , 2 6 2 . 5 0 9 3 , 7 2 7 , 2 3 5 . 9 8 1 . NNO(uDN F i x e d A s s e t s T r a n s f e r r e d 2 6 , 0 9 9 , 4 3 9 . 2 3 4 4 , 6 5 1 , 6 8 8 . 8 9 N0yvD,gNyvD,glQy P r o j e c t C a p i t a l a n d C a p i t a l S u r p l u s 2 9 0 . 0 0 0 . 0 0 2 . _8h yv/eQ C o n s t r u c t i o n E x p e n d i t u r e s t o b e D i s p o s e d 3 0 . 0 0 0 . 0 0 vQ-N: Pc`>k I n c l u d i n g : G r a n t s 3 0 0 . 0 0 0 . 0 0 3 . lQbD I n v e s t m e n t s T r a n s f e r r e d - o u t 4 0 . 0 0 0 . 0 0 N0yvP>kT T o t a l P r o j e c t L o a n 3 1 3 2 , 6 7 1 , 0 0 0 . 0 0 8 5 , 1 7 0 , 5 1 5 . 0 1 4 . (W^]z C o n s t r u c t i o n i n P r o g r e s s 5 2 5 , 3 3 8 , 9 9 9 . 0 7 6 5 , 8 2 8 , 0 4 7 . 0 7 1 . yvbDP>k T o t a l P r o j e c t I n v e s t m e n t L o a n 3 2 3 2 , 6 7 1 , 0 0 0 . 0 0 8 5 , 1 7 0 , 5 1 5 . 0 1 N0^6euNUSMObDP>k I n v e s t m e n t L o a n R e c e i v a b l e 6 0 . 0 0 0 . 0 0 ( 1 ) VYP>k F o r e i g n L o a n 3 3 3 2 , 6 7 1 , 0 0 0 . 0 0 8 5 , 1 7 0 , 5 1 5 . 0 1 vQ-N: ^6euNUSMONL7>k I n c l u d i n g : A D B I n v e s t m e n t L o a n R e c e i v a b l e 7 0 . 0 0 0 . 0 0 vQ-N: N2m _SL I n c l u d i n g : A D B 3 4 3 2 , 6 7 1 , 0 0 0 . 0 0 8 5 , 1 7 0 , 5 1 5 . 0 1 N0bN@b^\bDP>k A p p r o p r i a t i o n o f I n v e s t m e n t L o a n 8 0 . 0 0 0 . 0 0 VE YtQ _SL I B R D 3 5 0 . 0 0 0 . 0 0 vQ-N: bNNL7>k I n c l u d i n g : A p p r o p r i a t i o n o f A D B I n v e s t m e n t L o a n 9 0 . 0 0 0 . 0 0 b/gT\OO7 T e c h n i c a l C o o p e r a t i o n 3 6 0 . 0 0 0 . 0 0 V0hVPg E q u i p m e n t 1 0 0 . 0 0 1 2 , 2 7 8 , 5 9 0 . 4 9 TTD C o - F i n a n c i n g 3 7 0 . 0 0 0 . 0 0 vQ-N: _YthVPg_c1Y I n c l u d i n g : E q u i p m e n t L o s s e s i n S u s p e n s e 1 1 0 . 0 0 0 . 0 0 ( 2 ) VQP>k D o m e s t i c L o a n 3 8 0 . 0 0 0 . 0 0 N0'^DёT T o t a l C a s h a n d B a n k 1 2 2 0 , 6 0 4 , 3 7 2 . 2 5 4 4 , 6 8 9 , 9 9 6 . 9 0 2 . vQNP>k O t h e r L o a n 3 9 0 . 0 0 0 . 0 0 1 . LX[>k C a s h i n B a n k 1 3 2 0 , 6 0 4 , 3 7 2 . 2 5 4 4 , 6 8 9 , 9 9 6 . 9 0 V0 N~beQbDP>k A p p r o p r i a t i o n o f I n v e s t m e n t L o a n 4 0 0 . 0 0 0 . 0 0 vQ-N: N(u&7bX[>k I n c l u d i n g : S p e c i a l A c c o u n t 1 4 2 0 , 6 0 4 , 3 7 2 . 2 5 4 3 , 6 4 7 , 8 6 7 . 3 0 vQ-N: beQNL7>k I n c l u d i n g : A D B L o a n 4 1 0 . 0 0 0 . 0 0 2 . sё C a s h o n H a n d 1 5 0 . 0 0 0 . 0 0 N0ON:P8RDё B o n d F u n d 4 2 0 . 0 0 0 . 0 0 T~T o b e c o n t i n u e d mQ0NS^6e>kT T o t a l P r e p a i d a n d R e c e i v a b l e 1 6 2 , 3 4 4 , 0 4 3 . 3 3 2 1 , 8 9 1 , 7 8 2 . 0 7 mQ0_Qyv/eQ C o n s t r u c t i o n E x p e n d i t u r e s t o b e O f f s e t 4 3 0 . 0 0 0 . 0 0 vQ-N: ^6eNL7>k)Ro` I n c l u d i n g : A D B L o a n I n t e r e s t R e c e i v a b l e 1 7 0 . 0 0 0 . 0 0 N0^N>kT T o t a l P a y a b l e 4 4 8 , 8 3 5 , 6 1 8 . 9 4 2 2 , 4 0 8 , 0 2 2 . 1 5 ^6eNL7>kb9 A D B L o a n C o m m i t m e n t F e e R e c e i v a b l e 1 8 0 . 0 0 0 . 0 0 vQ-N: ^NNL7>k)Ro` I n c l u d i n g : A D B L o a n I n t e r e s t P a y a b l e 4 5 0 . 0 0 0 . 0 0 ^6eNL7>kDё`S(u9 A D B L o a n S e r v i c e - F e e R e c e i v a b l e 1 9 0 . 0 0 0 . 0 0 ^NNL7>kb9 A D B L o a n C o m m i t m e n t F e e P a y a b l e 4 6 0 . 0 0 0 . 0 0 N0 gN8R M a r k e t a b l e S e c u r i t i e s 2 0 0 . 0 0 0 . 0 0 ^NNL7>kDё`S(u9 A D B L o a n S e r v i c e F e e P a y a b l e 4 7 0 . 0 0 0 . 0 0 kQ0V[DNT T o t a l F i x e d A s s e t s 2 1 0 . 0 0 0 . 0 0 kQ0*gN>kT O t h e r P a y a b l e s 4 8 - 3 , 3 0 0 , 0 2 7 . 5 6 - 1 1 , 9 6 5 , 6 6 7 . 7 2 V[DNSN F i x e d A s s e t s , C o s t 2 2 0 . 0 0 0 . 0 0 ]N0 N~beQDё A p p r o p r i a t i o n o f F u n d 4 9 0 . 0 0 0 . 0 0 Q: /}be L e s s : A c c u m u l a t e d D e p r e c i a t i o n 2 3 0 . 0 0 0 . 0 0 AS0Yub6eeQ R e t a i n e d E a r n i n g s 5 0 0 . 0 0 0 . 0 0 V[DNQ