飞亚达Ｂ：2020年年度报告（英文版）.PDF

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1、FIYTA Precision Technology Co., Ltd. 2020 Annual Report, Full Text 1 FIYTA Precision Technology Co., Ltd. 2020 Annual Report March, 2021 FIYTA Precision Technology Co., Ltd. 2020 Annual Report, Full Text 2 Section 1 Important Notice, Table of Contents and Definition The Board of Directors, the Super

2、visory 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 mi

3、sleading. Huang Yongfeng, the Company leader, Chen Zhuo, 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 Annual Report. All the directors attended the board meeting f

4、or reviewing the Annual Report. Any perspective description, such as the future plan, development strategy, etc. involved in the 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 re

5、port, 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 risk factors possibly to be confronted with and the countermeasures in the Companys future development prospect in Section 4 Discussion an

6、d Analysis of the Management The profit distribution preplan reviewed and approved by the Board of Directors is summarized as follows: With the total capital stock as at the date of record as the base, the Company would distribute cash dividend at the rate of CNY 4 for every 10 shares (with tax incl

7、usive), bonus share at the rate of 0 share for every 10 shares (with tax inclusive) to the whole shareholders and shall capitalize no reserve. FIYTA Precision Technology Co., Ltd. 2020 Annual Report, Full Text 3 Table of Contents Section 1 Important Notice, Table of Contents and Definition Section 2

8、 Company Profile and Financial Highlights Section 3 Business Summary Chapter 4 Discussion and Analysis of the Operation Section 5 Significant Events Section 6 Change of Shares and Particulars about Shareholders Section 7 About the Preferred Shares Section 8 About the Convertible Bonds Section 9 Dire

9、ctors, Supervisors, Senior Executives and Employees Chapter 10 Corporate Governance Section 11 Bond Related Information Section 12 Financial Report Section 13 Documents Available for Inspection FIYTA Precision Technology Co., Ltd. 2020 Annual Report, Full Text 4 Definitions Terms to be defined Refer

10、s to Definition This Company, the Company or FIYTA Refers to FIYTA Precision Technology Co., Ltd. AVIC Refers to Aviation Industry Corporation of China, Ltd. AVIC International Refers to AVIC International Holding Corporation AVIC International Shenzhen Refers to AVIC International Shenzhen Co., Ltd

11、. AVIC IHL Refers to AVIC International Holdings Limited The Sales Co. Refers to FIYTA Sales Co., Ltd. Harmony Refers to Shenzhen Harmony World Watches Center Co., Ltd. Precision Technology Co. Refers to Shenzhen FIYTA Precision Technology Co., Ltd. Science & Technology Development Co. Refers to She

12、nzhen FIYTA Technology Development Co., Ltd. the Hong Kong Co. Refers to FIYTA (Hong Kong) Limited SHIYUEHUI Refers to Shiyuehui Boutique (Shenzhen) Co., Ltd. Hengdarui Refers to Liaoning Hengdarui Commerce & Trade Co., Ltd. Harmony E-Commerce Limited Refers to Shenzhen Harmony E-Commerce Limited Sh

13、anghai Watch Industry Refers to Shanghai Watch Industry Co., Ltd. Rainbow Ltd. Refers to Rainbow Digital Commercial Co., Ltd. Shennan Circuit Refers to Shennan Circuit Co., Ltd. FIYTA Precision Technology Co., Ltd. 2020 Annual Report, Full Text 5 Section 2 Company Profile and Financial Highlights I.

14、 Company Information Short form of the stock FIYTA and FIYTA B Stock Code 000026 and 200026 Stock Exchange Listed with Shenzhen Stock Exchange Company Name in Chinese FIYTA Precision Technology Co., Ltd. Abbreviation of the Company Name in Chinese 飞亚达公司 Company name in English (if any) FIYTA Precisi

15、on Technology Co., Ltd. Abbreviation of the Company name in English (if any) FIYTA Legal Representative Huang Yongfeng Registered address: FIYTA Technology Building, Gaoxin S. Road One, Nanshan District, Shenzhen Postal Code of the Registered Address 518057 Office Address 20th Floor, FIYTA Technolog

16、y Building, Gaoxin S. Road One, Nanshan District, Shenzhen Postal Code of the Registered Address 518057 Website: E-mail: II. Liaison Persons and Communication Information Secretary of the Board Securities Affairs Representative Names Chen Zhuo Xiong Yaojia Liaison Address 20th Floor, FIYTA Technolog

17、y 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. Information Disclosure and Place where the Regular Reports are Prepared Names o

18、f the media chosen by the Company for disclosing information Securities Times and Hong Kong Commercial Daily Internet Web Site Designated by China Securities Regulatory Commission for Publishing the annual report: FIYTA Precision Technology Co., Ltd. 2020 Annual Report, Full Text 6 Place where the C

19、ompanys Annual Report was prepared and is placed for inquiry Company Planning & Operation Department IV. Changes in Registration Organization Code 91440300192189783K Changes in principal business activities since listing (if any) No change Changes in the controlling shareholder over the past years (

20、if any) No change V. Other Relevant Information The CPAs appointed by the Company Name of the CPAs Grant Thornton LLP Office address 5/F, SciTech Building, No.22 JianGuoMenWai Avenue, Chaoyang District, Beijing Names of the CPAs as the authorized signatories Dong Xu, Meng Junfeng The sponsor perform

21、ing persistent supervision duties engaged by the Company in the reporting period Inapplicable The financial advisor performing persistent supervision duties engaged by the Company in the reporting period Inapplicable VI. Summary of Accounting/Financial Data Does the Company need to make retroactive

22、adjustment or restatement of the accounting data of the previous years? No 2020 2019 Increase/decrease in the reporting year over the previous year 2018 Turnover in CNY 4,243,439,952.59 3,704,210,734.90 14.56% 3,400,450,599.90 Net profit attributable to the Companys shareholders, in CNY 294,115,156.

23、04 215,909,014.15 36.22% 183,835,095.29 Net profit attributable to the Companys shareholders less the non-recurring items, in CNY 269,095,012.41 199,678,661.09 34.76% 162,758,061.00 Net cash flows arising from operating activities, in CNY 378,210,505.87 444,820,768.61 -14.97% 331,627,789.62 Basic ea

24、rning per share (CNY/share) 0.6764 0.4943 36.84% 0.4190 Diluted earning per share (CNY/share) 0.6764 0.4943 36.84% 0.4190 Return on equity, weighted average (%) 10.78% 8.21% 2.57% 7.30% FIYTA Precision Technology Co., Ltd. 2020 Annual Report, Full Text 7 End of 2020 End of 2019 Increase/decrease of

25、the end of the reporting year over the end of the previous year End of 2018 Total assets, in CNY 4,018,712,700.18 3,760,923,285.37 6.85% 3,599,691,650.26 Net assets attributable to the Companys shareholders (owners equity attributable to the Companys shareholders, in CNY) 2,799,948,388.09 2,654,533,

26、766.99 5.48% 2,570,134,782.90 The lower of the companys net profit before and after the deduction of non-recurring gains and losses in the last three fiscal years is negative, and the auditors report of the previous year shows that the Companys going concern ability is uncertain. No The lower of the

27、 net profit before and after the deduction of the non-recurring gains and losses is negative. No VII. Discrepancy in accounting data between IAS and CAS 1. Differences in the net profit disclosed in the financial report & the net assets attributable to the Companys shareholders respectively accordin

28、g 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 according to both the IAS and the CAS Inapplicable VIII. Financial Data Summary based on Quarters In CNY The first quarter The second q

29、uarter The third quarter The fourth quarter Turnover 588,361,057.06 993,473,657.97 1,362,598,720.97 1,299,006,516.59 Net profit attributable to the Companys shareholders -12,974,795.53 90,713,701.83 137,048,377.83 79,327,871.91 Net profit less the non-recurring profit/loss attributable to the Compan

30、ys shareholders -13,738,773.72 82,408,251.17 129,723,577.01 70,701,957.95 Net cash flows arising from operating activities -106,747,751.88 210,392,987.15 112,503,592.52 162,061,678.08 Are the above financial indicators or their totals significantly different from the financial indicators disclosed b

31、y the Company in the quarterly and semi-annual reports? No FIYTA Precision Technology Co., Ltd. 2020 Annual Report, Full Text 8 IX. Extraordinary items and amount In CNY Items Amount in 2020 Amount in 2019 Amount in 2018 Note Gain/loss from disposal of non-current assets, including the part written-

32、off with the provision for impairment of assets. -369,857.30 -926,118.60 -180,302.24 The government subsidies included in the profits and losses of the current period ( (excluding government grants which are closely related to the Companys business and conform with the national standard amount or qu

33、antity) 30,634,128.57 18,428,906.18 19,375,618.48 Reversal of the impairment provision for receivables and contract assets which have been tested individually for impairment 163,925.30 0.00 7,533,121.86 Non-operating income and expenses other than the aforesaid items 1,556,300.78 3,353,916.43 792,84

34、2.56 Other gains and losses in compliance with the definition of non-recurring gains and losses. 0.00 Less: Amount affected by the income tax 6,964,353.72 4,626,350.95 6,444,246.37 Total 25,020,143.63 16,230,353.06 21,077,034.29 - For the Companys non-recurring gain/loss items as defined in the Expl

35、anatory Announcement No. 1 on Information Disclosure for Companies Offering their Securities to the Public Non-recurring Gains and Losses and its non-recurring gain/loss items as illustrated in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering their Securities to th

36、e Public Non-recurring Gains and Losses which have been defined as recurring gains and losses, it is necessary to explain the reason. Inapplicable FIYTA Precision Technology Co., Ltd. 2020 Annual Report, Full Text 9 Section 3 Business Summary I. Principal business the Company operated in the reporti

37、ng period (1) Principal Business and Operation Model With the establishment and development originated from aviation precision manufacturing and material technology, the Company is mainly carrying out the activities of watch brand management and luxurious watch retails. From the perspective of techn

38、ical characteristics, the Company is engaged in precision technology industry. Over the past three decades or more, relying on the advantages in precision manufacturing technology, material technology and talents of the aviation industry, the Company has been continuously devoting itself to the buil

39、ding of professional watch-making capability 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, and has cultivated brands of different styles such as Emile Chouriet ,

40、 JONAS&VERUS , Beijing and JEEP to meet the needs of market segments. In 1997, in order to grasp the opportunities in the domestic famous watch market and accelerate the breakthrough of its own brand, the Company developed the retail business of famous watches. As one of the first explorers of brand

41、 watch retail chain business, the Company has been focusing on strengthening the construction of both brand and channel resources, refining operations, and has established stable cooperation with international outstanding famous watch brands and domestic high-end channels, which is contributing to t

42、he companys revenue and profit while providing a source of growth, it has also established a stable base for the growth and development of its own brands. Under the general background of industrial upgrading and intelligent manufacturing, the Company relies on high-end precision manufacturing techno

43、logy and industrial accumulation, based on the development principle of “technology being homologous, the industry being same-rooted and value being co-directional”, and extends the development of precision technology business and smart wearable business. At present, these two businesses have begun

44、to take shape. (2) Development Status of the Industry and the Companys Position Therein Watches bear both characteristics of precision technology and fashion: high-end watch-making is supported by precision technology, material technology and craftsmanship as the core. In addition, it is necessary t

45、o meet consumers demands for brands, aesthetics and artistic and cultural connotation. The global watch industry has developed for more than two hundred years, and it has a long history. Technological innovation and design creativity have always pushed the brand forward. Globally, the high-end luxur

46、y watch market is mainly occupied by the Swiss watch brands. Middle-end and fashion watches mainly consist of European and American brands, Japanese brands and domestic brands. In recent years, smart watches are developing rapidly, and have won the favor of tech-savvy, sports-savvy and fashion-savvy

47、 citizens. Today, the increase in national disposable income, the peoples yearning for a better life, and the demand for high-quality life are driving consumption upgrading; in addition, with the effective advancement of tariff reduction, Chinas domestic watch consumer market is ushering in a new de

48、velopment opportunity and the Company keeps optimistic about the market development potential. In the past year 2020, affected by COVID-19, the global watch industry experienced a severe test of growth pressure. With Chinas effective control over the pandemic, the rapid growth of luxury goods consum

49、ption, and the rise of duty-free shopping on Hainan offshore island, China outshone all the other countries in the world in performance of the high-end luxury watch retail industry. According to the data disclosed by the Federation of the Swiss Watch Industry FH, the export volume of Swiss watches i

50、n 2020 dropped by 21.8% year-on-year, but the export to mainland China began to increase commencing from June, 2020 with a year-on-year growth by 20%. This was the first time for mainland China to be the worlds largest market of Swiss watches. These data are the best evidence of the strong consumpti