飞亚达Ｂ：2022年半年度报告（英文版）.PDF

FIYTA Precision Technology Co., Ltd. 2022 Semi-annual Report, Full Text 1 FIYTA Precision Technology Co., Ltd. 2022 Semi-annual Report August 20, 2022 FIYTA Precision Technology Co., Ltd. 2022 Semi-annual Report, Full Text 2 Section 1 Important Notice, Table of Contents and Definition The Board of Directors, the Supervisory Committee, directors, supervisors and senior executives hereby individually and collectively accept responsibility for the correctness, accuracy and completeness of the contents of this report and confirm that there are neither material omissions nor errors which would render any statement misleading. Zhang Xuhua, the Company leader, Song Yaoming, chief financial officer, and Tian Hui, the manager of the accounting department (treasurer) hereby confirm the authenticity and completeness of the financial report enclosed in this Semi-annual Report. All the directors attended the board meeting for reviewing the Semi-annual Report. Any perspective description, such as future plan, development strategy, etc. involved in the Semi-Annual Report shall not constitute the Companys substantial commitment to the investors and the investors should please pay attention to their investment risks. In this report, the Company has described in detail the existing macro-economic risks as well as operation risks. Investors are advised to refer to the contents concerning risks possibly to be confronted with by the Company and the countermeasures to be taken in Section 3 Discussion and Analysis by the Management The Company intends neither to distribute any cash dividend or bonus shares nor to convert any reserve into share capital. FIYTA Precision Technology Co., Ltd. 2022 Semi-annual Report, Full Text 3 Table of Contents Section 1 Important Notice, Table of Contents and Definition Section 2 Company Profile and Financial Highlights Section 3 Discussion and Analysis by the Management Section 4 Corporate Governance Section 5 Environment and Social Responsibility Section 6 Significant Events Section 7 Change of the Shares and Particulars about Shareholders Section 8 About the Preferred Shares Section 9 About Bonds Section 10 Financial Report FIYTA Precision Technology Co., Ltd. 2022 Semi-annual Report, Full Text 4 Documents Available for Inspection I. Financial statements signed by and under the seal of the legal representative, the chief financial officer and the person in charge of the accounting office. II. Originals of all documents and manuscripts of all the Companys documents disclosed to the public on the media designated by China Securities Regulatory Commission during the reporting period. III. Full text of 2022 Semi-annual Report carrying the signature of the legal representative. FIYTA Precision Technology Co., Ltd. 2022 Semi-annual Report, Full Text 5 Definitions Terms to be defined Refers to Definition This Company, the Company or FIYTA Refers to FIYTA Precision Technology Co., Ltd. AVIC Refers to Aviation Industry Corporation of China AVIC International Refers to AVIC International Holding Corporation AVIC IHL Refers to AVIC International Holding Limited AVIC Finance Refers to AVIC Finance Co., Ltd. Restricted Stock Incentive Plan Phase I Refers to Restricted A-Share Incentive Plan 2018 (Phase I) Restricted Stock Incentive Plan Phase II Refers to Restricted A-Share Incentive Plan 2018 (Phase II) FIYTA Precision Technology Co., Ltd. 2022 Semi-annual Report, Full Text 6 Section 2 Company Profile and Financial Highlights I. Company Profile Short form of the stock: FIYTA and FIYTA B Stock Code 000026 and 200026 Stock short form before change None Stock Exchange Listed with Shenzhen Stock Exchange Company Name in Chinese FIYTA Precision Technology Co., Ltd. Abbreviation of Registered Company Name in Chinese FIYTA Company name in English (if any) FIYTA Precision Technology Co., Ltd. Abbreviation of the Company name in English (if any) FIYTA Legal Representative Zhang Xuhua II. Liaison Persons and Communication Information Secretary of the Board Securities Affairs Representative Names Song Yaoming Xiong Yaojia Liaison Address 20th Floor, FIYTA Technology Building, Gaoxin S. Road One, Nanshan District, Shenzhen 18th Floor, FIYTA Technology Building, Gaoxin S. Road One, Nanshan District, Shenzhen Tel. 0755-86013669 0755-86013669 Fax 0755-83348369 0755-83348369 Email III. Other Information 1. Way of Communication There is no change in the registered address, office address and post code, company website, email during the reporting period. For the detail, refer to 2021 Annual Report. 2. Information Disclosure and Place where the Regular Reports are Prepared There is no change in the newspapers designated for disclosing the information, the Internet website designated by China Securities Regulatory Commission for publishing the Semi-annual Report, and the place where the Companys Semi-annual Report is prepared and available for inquiry. For the detail, refer to 2021 Annual Report. 3. Other Relevant Information Is there any change in any other relevant information during the reporting period Inapplicable FIYTA Precision Technology Co., Ltd. 2022 Semi-annual Report, Full Text 7 IV. Summary of Accounting/Financial Data Does the Company need to make retroactive adjustment or restatement of the accounting data of the previous years No Reporting period Same period of the previous year Year-on-year increase/decrease in the reporting period Revenue in CNY 2,183,570,749.11 2,777,519,521.34 -21.38% Net profit attributable to the Companys shareholders, in CNY 140,692,784.29 233,544,726.55 -39.76% Net profit attributable to the Companys shareholders less the non-recurring items, in CNY 129,931,756.90 223,796,233.42 -41.94% Net cash flows arising from operating activities, in CNY 278,386,263.60 205,154,563.93 35.70% Basic earning per share (CNY/share) 0.3351 0.5421 -38.18% Diluted earning per share (CNY/share) 0.3351 0.5421 -38.18% Return on equity, weighted average 4.62% 8.09% -3.47% End of the reporting period End of the previous year Increase/decrease at the end of the year over the end of the previous year Total assets (in CNY) 4,162,089,367.18 4,110,579,952.49 1.25% Net profit attributable to the Companys shareholders, in CNY 2,991,763,111.15 3,013,232,642.53 -0.71% V. Difference in the Accounting Data based respectively on the Chinese Accounting Standards (CAS) and International Accounting Standards (IAS) 1. Differences in the net profit disclosed in the financial report & the net assets attributable to the Companys shareholders respectively according to the IAS and the CAS. Inapplicable 2. Differences in the net profit disclosed in the financial report & the net assets attributable to the Companys shareholders respectively according to the IAS and the CAS. Inapplicable VI. Non-recurring gain/loss items and the amount involved In CNY Items Amount Notes Gain/loss from disposal of non-current assets, including the part written-off with the -816,021.16 FIYTA Precision Technology Co., Ltd. 2022 Semi-annual Report, Full Text 8 provision for impairment of assets. The government subsidies included in the profits and losses of the current period ( (excluding government grants which are closely related to the Companys normal business and conform with the national standard amount or quantity) 13,369,782.95 Reversal of provision for impairment of accounts receivable that has been separately tested for impairment 2,130,784.84 Other non-operating income and expenses with the aforesaid items exclusive -617,309.48 Less: Amount affected by the income tax 3,306,209.76 Total 10,761,027.39 Details of other gains and losses in compliance with the definition of non-recurring gains and losses. Inapplicable Explanation of the non-recurring gains and losses listed in the Explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public as recurring gains and losses Inapplicable FIYTA Precision Technology Co., Ltd. 2022 Semi-annual Report, Full Text 9 Section 3 Discussion and Analysis by the Management I. Main business the Company operated during the reporting period (I) Main business the Company operated during the reporting period The Company bases its establishment and development on the aviation precision technology and material technology. Over the years, the Company has been adhering to the values of “the leading role of brand, customer orientation, value creation, cooperation and responsibility, learning and innovation, taking “inheriting of the spirit of aeronautical patriotism and creating a quality life” as its mission, adhering to the brand strategy and innovation drive, focusing on the watch industry, has formed a core business with integration of watch research and development, design, manufacturing, sales and services. Since its establishment, the Company has been deep plowed professional watch-making capability construction and brand operation, has successfully built the FIYTA brand and established the brand a leading position in the domestic industry by virtue of the advantages in technology and quality. Relying on its precision and advanced technology, the FIYTA Brand has provided professional timekeeping watches for Chinas aerospace industry for many times. Since 2003, the Company has successively fulfilled the tasks of developing aerospace watches for “Shenzhou V” to “Shenzhou XIV”. FIYTA has become one of the three major aerospace watch brands in the world. Since 1997, in order to seize the opportunities in the domestic famous watch market and accelerate the breakthrough of Chinas own brands, the Company has expanded the retail business of HARMONY World Watches, refined the industry-leading operational management and customer service capabilities, and continued to devote itself to building a high-end chain commercial brand specialized in the sales and services of famous watches. In recent years, the Company has relied on high-end precision manufacturing technology and industrial accumulation, based on the development principle of “technology being homologous, the industry being same-rooted and value being co-directional”, and extended the development of precision technology business and smart wears business. At present, these two businesses have begun to take shape. (II)Development of the Industry the Company is Engaged in during the Reporting Period The watch industry the Company is engaged in has a long history and profound cultural precipitation, and is one of the representative industries of high-precision manufacturing. The domestic watch industry closely follows the national industrial modernization progress, and is flourishing with the pragmatic spirit and self-improvement culture of “Made in China. Recently, five national administrative departments of China jointly issued the Guiding Opinions on the Development of Light Industry, which put forward specific requirements for scientific and technological innovation, brand promotion and other aspects of light industry, including the watch industry, to promote the continued high-quality development of the industry. Watches have multiple attributes of functions and art. With the arrival of the era of personalized consumption, it is no longer limited to the function of timekeeping, but integrates various needs of the new consumption era such as emotional value and aesthetic experience, and is gradually becoming the symbolic presentation of quality life consumers are pursuing. In recent years, with the improvement of national purchasing power, the change of consumption concept and the guidance of consumption policies, the powerful domestic consumption demand is driving the continuous expansion of the domestic FIYTA Precision Technology Co., Ltd. 2022 Semi-annual Report, Full Text 10 watch consumption market. The consumption of mid-to-high-end watches represented by the Swiss watch brands has shown a positive growth momentum. Since 2016, the amount of Swiss watch exports to mainland China has grown steadily for six consecutive years, and the market share of mainland China has jumped to the forefront of the world. The mid-end and fashion watch consumer market where domestic watch brands are located is confronted with many challenges such as the national consumption structure and the upgrading of consumer demand, and gradually seeks to transform and upgrade to quality and personalization. With the rise of national tide culture, domestic watch brands have ushered in new development opportunities and market space. At the same time, the domestic watch industry has experienced profound changes with the process of industrial digitalization. The innovation of digital technology has boosted the continuous improvement of the overall efficiency of the industrial chain, with increasingly rich varieties, improved quality, and continuous emergence of brands to meet the continuously upgraded consumer demand. In the future, digital concepts and digital technologies shall be further integrated into R&D, design, manufacturing, sales, service and other links, bringing us new opportunities and challenges. In general, the continuous improvement of Chinas manufacturing level, the increasingly segmented and diversified consumer demands have brought broad development prospects to the industry we are engaged in, and digital transformation and upgrading have brought huge potential for improving the efficiency of the industrial chain. Facing the future, the competitive advantage centered on brand power, product power, channel power and digitalization shall be always our confidence. II. Analysis on Core Competitiveness (I) Adhering to Brand Leadership and Having Accumulated Rich Experience in Brand Management The brand positioning of FIYTA is a high-quality Chinese watch brand with aerospace watch as the feature. The Company has achieved a number of industry firsts in brand building, marketing communication, product design, etc., and has a solid foundation in brand operation. At the same time, the Company enthusiastically promotes international development. By leading and participating in the compilation of a number of international standards, the Company has entered the BASELWORLD, etc. to strengthen exchanges and interactions with outstanding watch brands, and the brand force has been continuously improved. With the vision of becoming the most outstanding comprehensive service provider of famous watches, the retail channel of HARMONY World Watch maintains good cooperative relations with various group brands and independent brands by virtue of its industry-leading operational management capability and customer service levels and the proportion of the meddle and high end brands is continuously rising. (II) Construction of Deep Ploughed Channel and Creating Excellent Channel Management Ability FIYTA persistently constructed the deeply ploughed channel, and continuously provided a source of power for brand development with high-quality services and refined operat