深纺织Ｂ：2019年年度报告（英文版）.PDF

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1、 Shenzhen Textile (Holdings) Co., Ltd. 2019 Annual Report March 2020 I. Important Notice, Table of Contents and Definitions The Board of Directors , Supervisory Committee, All Directors, Supervisors and Senior executives of the Company hereby guarantees that there are no misstatement, misleading rep

2、resentation or important omissions in this report and shall assume joint and several liability for the authenticity, accuracy and completeness of the contents hereof. Mr.Zhu Jun, The Company leader, Mr. He Fei, Person in charge of accounting works, Ms. Mu Linying,the person in charge of the accounti

3、ng department (the person in charge of the accounting )hereby confirm the authenticity and completeness of the financial report enclosed in this annual report. All the directors attended the board meeting for the review of this Report. I. Concerning the forward-looking statements with future plannin

4、g involved in the Report, they do not constitute a substantial commitment for investors, investors should be cautious with investment risks . II. The company has the macroeconomic risks, market competition risks and raw material risks. Investors are advised to pay attention to investment risks. For

5、details, please refer to the possible risk factors that the company may face in the “IX Prospects for the future development of the company in the “Section IV Discussion and Analysis of Business Operation”. III. The company to remind the majority of investors，Securities Time, China Securities Journa

6、l, Securities Daily, Shanghai Securities News , Hongkong Commercial Daily and Juchao Website （http:/） are the media for information disclosure appointed by the Company, all information under the name of the Company disclosed on the above said media shall prevail, and investors are advised to exercis

7、e caution of investment risks. This Report has been prepared in both Chinese and English. In case of any discrepancy, the Chinese version shall prevail. The Company has no plan of cash dividends carried out, bonus issued and capitalizing of common reserves either. Table of Contents I.Important Notic

8、e, Table of contents and Definitions II. Basic Information of the Company and Financial index III. Outline of Company Business IV. Managements Discussion and Analysis V. Important Events VI. Change of share capital and shareholding of Principal Shareholders VII. Situation of the Preferred Shares VII

9、I. Information about convertible corporate bonds IX. Information about Directors, Supervisors and Senior Executives X. Administrative structure XI. Corporate Bond XII. Financial Report XIII. Documents available for inspection Definition Terms to be defined Refers to Definition Company/The Company/ S

10、hen Textile Refers to Shenzhen Textile (Holdings) Co., Ltd Articles of Association Refers to Articles of Association of Shenzhen Textile (Holdings) Co., Ltd Actual controller / National Assets Regulatory Commission of Shenzhen Municipal Peoples Government Refers to National Assets Regulatory Commiss

11、ion of Shenzhen Municipal Peoples Government The Controlling shareholder/ Shenzhen Investment Holding Co., Ltd. Refers to Shenzhen Investment Holding Co., Ltd. Shenchao Technology Refers to Shenzhen Shenchao Technology Investment Co., Ltd. SAPO Photoelectric Refers to Shenzhen SAPO Photoelectric Co.

12、, Ltd. Jinjiang Group Refers to Hangzhou Jinjiang Group Co., Ltd. Jinhang Investment Refers to Hangzhou Jinhang Equity Investment Fund Partnership (LP) Shenzhen City Consturction Group Refers to Shenzhen City Construction Development (Group) Co., Ltd. Nitto Denko Refers to Nitto Denko Corporation Ku

13、nshan Zhiqimei Refers to Kunshan Zhiqimei Material Technology Co., Ltd. Haohao Property Company Refers to Shenzhen Haohao Property Leasing Co., Ltd. Guanhua Company Refers to Shenzhen Guanhua Printing & Dyeing Co., Ltd. Line 6 Refers to TFT-LCD polarizer II phase Line 6 project Line 7 Refers to Indu

14、strialization project of polaroid for super large size TV “CSRC” Refers to China Securities Regulatory Commission Company Law Refers to Company Law of the Peoples Republic of China Securities Law Refers to Securities Law of the Peoples Republic of China The Report Refers to 2019 Annual Report II. Ba

15、sic Information of the Company and Financial index .Company Information Stock abbreviation Shen Textile A ,Shen Textile B Stock code 000045,200045 Stock exchange for listing Shenzhen Stock Exchange Name in Chinese 深圳市纺织(集团)股份有限公司 Chinese abbreviation (If any) 深纺织 English name (If any) SHENZHEN TEXTI

16、LE （HOLDINGS） CO.,LTD English abbreviation (If any) STHC Legal Representative Zhu Jun Registered address 6/F, Shenfang Building, No.3 Huaqiang North Road, Futian District, Shenzhen Postal code of the Registered Address 518031 Office Address 6/F, Shenfang Building, No.3 Huaqiang North Road, Futian Di

17、strict, Shenzhen Postal code of the office address 518031 Internet Web Site http:/ E-mail .Contact person and contact manner Board secretary Securities affairs Representative Name Jiang Peng Li Zhenyu Contact address 6/F, Shenfang Building, No.3 Huaqiang North Road, Futian District, Shenzhen 6/F, Sh

18、enfang Building, No.3 Huaqiang North Road, Futian District, Shenzhen Tel 0755-83776043 0755-83776043 Fax 0755-83776139 0755-83776139 E-mail . Information disclosure and placed Newspapers selected by the Company for information disclosure Securities Times, China Securities, Shanghai Securities Daily

19、,Securities Daily and Hongkong Commercial Daily. Internet website designated by CSRC for publishing the Annual report of the Company http:/ The place where the Annual report is prepared and placed Secretarial office of the Board .Changes in Registration Organization Code 19217374-9 Changes in princi

20、pal business activities since listing (if any) In July 2012, The business scope of the company is changed to production, textiles processing, knitwear, clothing, upholstery fabrics, belts, trademark bands, handicrafts (without restrictions); general merchandise, the special equipment of the textile

21、industry, textile equipment and accessories, instruments, standard parts, raw textile materials, dyes, electronic products, chemical products, mechanical and electrical equipment, light industrial products, office supplies and domestic trade (excluding the franchise, the control and the monopoly of

22、goods) ; operation of import and export business. after approval of Shenzhen Market Supervisory Authority . Changes is the controlling shareholder in the past (is any) In October 2004,In accordance with the Decision on Establishing Shenzhen Investment Holdings Co., Ltd. issued by State-owned Assets

23、Administration Committee of Shenzhen Municipal Peoples Government (Shen Guo Zi Wei (2004) No. 223 Document), Shenzhen Investment Management Co., Ltd., the controlling shareholder of the Company, and Shenzhen Construction Holding Company and Shenzhen Commerce and Trade Holding Company merged into She

24、nzhen Investment Holdings Co., Ltd. . Other Relevant Information CPAs engaged Name of the CPAs Peking Certified Public Accountants（Special Geneaal Partnership） Office address： 11/F, Zhongtang Building , No.110, Xihimen Street , Beijing Names of the Certified Public Accountants as the signatories Lon

25、g Zhe, Liu Ru The sponsor performing persist ant supervision duties engaged by the Company in the reporting period. Applicable Not applicable The sponsor performing persist ant supervision duties engaged by the Company in the reporting period. Applicable Not applicable VI.Summary of Accounting data

26、and Financial index May the Company make retroactive adjustment or restatement of the accounting data of the previous years Yes No 2019 2018 Changed over last year（） 2017 Operating income（RMB） 2,158,184,855.71 1,272,356,771.34 69.62% 1,475,545,719.72 Net profit attributable to the shareholders of th

27、e listed company（RMB） 19,679,910.43 -22,980,624.93 185.64% 52,776,101.46 Net profit after deducting of non-recurring gain/loss attributable to the shareholders of listed company（RMB） -41,179,849.56 -65,404,429.81 37.04% 3,140,446.26 Cash flow generated by business operation, net（RMB） 383,145,788.50

28、-460,494,321.15 183.20% -28,518,702.31 Basic earning per share(RMB/Share) 0.04 -0.04 200.00% 0.10 Diluted gains per share(RMB/Share)(RMB/Share) 0.04 -0.04 200.00% 0.10 Weighted average ROE(%) 0.75% -0.96% 1.71% 2.23% End of 2019 End of 2018 Changed over last year（） End of 2017 Gross assets（RMB） 4,53

29、1,399,885.99 4,619,203,416.79 -1.90% 4,195,746,507.56 Net assets attributable to shareholders of the listed company（RMB） 2,727,764,144.36 2,373,329,991.86 14.93% 2,397,474,603.79 VII.The differences between domestic and international accounting standards 1 Simultaneously pursuant to both Chinese acc

30、ounting standards and international accounting standards disclosed in the financial reports of differences in net income and net assets. Applicable Not applicable Nil 2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese accounting standards.

31、Applicable Not applicable Nil VIII.Main Financial Index by Quarters In RMB First quarter Second quarter Third quarter Fourth quarter Operating income 592,839,958.12 416,023,337.38 631,655,475.88 517,666,084.33 Net profit attributable to the shareholders of the listed company 10,381,938.06 -2,549,650

32、.08 9,061,067.98 2,786,554.47 Net profit after deducting of non-recurring gain/loss attributable to the shareholders of listed company 7,034,190.76 -17,582,772.96 -1,542,112.46 -29,089,154.90 Net Cash flow generated by business operation 23,567,172.13 259,190.22 262,706,321.30 96,613,104.85 Whether

33、significant variances exist between the above financial index or the index with its sum and the financial index of the quarterly report as well as semi-annual report index disclosed by the Company. Yes No IX.Items and amount of non-current gains and losses Applicable Not applicable In RMB Items Amou

34、nt (2019) Amount (2018) Amount (2017) Notes Non-current asset disposal gain/loss(including the write-off part for which assets impairment provision is made) 54,895,878.65 -97,477.14 -52,131.44 Mainly due to the disposal of long-term equity investments. Govemment subsidy recognized in current gain an

35、d loss(excluding those closely related to the Companys business and granted under the states policies) 27,547,902.92 17,228,202.21 12,567,426.98 Mainly due to recognize other income from government subsidies related to the main business. Gain/loss on entrusting others with investment or asset manage

36、ment 52,271,862.25 49,885,730.58 Gain/loss from change of fair value of transactional financial asset and liabilities, and investment gains from disposal of transactional financial assets and liabilities and sellable financial assets other than valid period value instruments related to the Companys

37、common businesses. Switch back of provision for depreciation of account receivable which was singly taken depreciation test. 469,470.61 332,073.93 Net amount of non-operating income and expense except the aforesaid items 4,582,973.27 1,143,552.02 -1,175,757.59 Mainly due to the return ofnew material

38、 Other non-recurring Gains/loss items 23,068,858.53 Less :Influenced amount of income tax 13,886,055.96 48,007.18 1,828,395.90 Influenced amount of minor shareholders equity (after tax) 12,750,409.50 28,074,327.28 33,162,149.89 Total 60,859,759.99 42,423,804.88 49,635,655.20 - For the Companys non-r

39、ecurring gain/loss items as defined in the Explanatory 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

40、for Companies offering their securities to the public-non-recurring Gains and losses which have been defined as recurring gains and losses, it is necessary to explain the reason. Applicable Not applicable None of Non-recurring gain /loss items recorgnized as recurring gain /loss/items as defined by

41、the information disclosure explanatory Announcement No.1- Non recurring gain/loss in the report period. III. Business Profile .Main Business the Company is Engaged in During the Report Period 1. Main Business the Company The companys main business covered such the high and new technology industry as

42、 represented by LCD polarizer, its own property management business and the retained business of high-end textile and garment. In the report period, no significant change happened to the main business of the Company. Firstly, driven by innovation, the company has continuously improved the production

43、 capacity and product quality of polarizer through a series of measures such as reforming the production line equipment, increasing the speed of the production line, optimizing the process by taking advantage of the production line, and prolonging the service life of liquid medicine. Secondly, it to

44、ok multiple measures to reduce costs and speed up the introduction of new customers. It has effectively reduced the comprehensive loss rate, completed the introduction and replacement of various protective films and chemical materials, and controlled the production cost by optimizing the process of

45、liquid replenishment concentration; Under the severe market environment and the situation that customer production reduction and inventory control, it has actively developed high margin orders and new panel customers such as LGD, SDP and HKC, which effectively improved the sales profit of products a

46、nd the stability of customer structure. Thirdly, the Company has actively promoted the construction of Line 7 project: it has further strengthened the monitoring and management of budget, progress, quality and other aspects, and actively promoted the technical exchange with Nitto Denko and Kunshan Z

47、hiqimei. The civil engineering construction of Line 7 started on April 18, 2019, and the main factory building has been capped on December 30, 2019 as planned. Fourthly, the property companies have strengthened its management services and improved their efficiency. Although the downturn in the real

48、economy has caused some pressure to property leasing, all property companies have increased their management efforts to improve service quality, and the rental situation is stable with a rental rate up to 100%. Fifthly, due to the impact of Sino-US trade friction, orders have decreased sharply. The

49、textile industry has stepped up its innovation efforts, actively explored new customers, exploited its potential in depth, and achieved sustained profits for two years. Sixthly, it has strengthened safety and environmental protection, maintained the harmony and stability of enterprises, always put s

50、afety and environmental protection production in a prominent position, implemented the responsibility system of work safety, pursued safe and green production, and actively fulfilled social responsibilities. As a type of upstream raw materials of LCD panels and one of essential and fundamental mater