FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
FIYTA Precision Technology Co., Ltd.
2020 First Quarter Report
April, 2020
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FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Section 1 Important Notice
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.
All the directors attended the board meeting for reviewing the Quarter Report.
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 Quarter Report.
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FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Section 2 Company Profile
I. Summary of Accounting/Financial Data
Does the Company need to make retroactive adjustment or restatement of the accounting data of the previous year
No
Year-on-year
Same period of the previous
Reporting period increase/decrease in the
year
reporting period
Revenue in CNY 588,361,057.06 893,389,751.73 -34.14%
Net profit attributable to the Company’s
-12,974,795.53 64,359,084.45 -120.16%
shareholders, in CNY
Net profit attributable to the Company’s
shareholders less the non-recurring items, in -13,738,773.72 61,517,359.28 -122.33%
CNY
Net cash flows arising from operating activities,
-106,747,751.88 10,730,388.47 -1,094.82%
in CNY
Basic earning per share (CNY/share) -0.0294 0.1467 -120.04%
Diluted earning per share (CNY/share) -0.0294 0.1453 -120.23%
Return on equity, weighted average -0.49% 2.47% -2.96%
Increase/decrease at the end
End of the reporting period End of the previous year of the year over the end of the
previous year
Total assets (in CNY) 3,651,180,885.03 3,760,923,285.37 -2.92%
Net profit attributable to the Company’s
2,635,350,676.43 2,654,533,766.99 -0.72%
shareholders, in CNY
Non-recurring gain/loss items and the amount involved
In CNY
Amount from the year beginning
Items Note
to the end of the reporting period
Gain/loss from disposal of non-current assets, including the part offset
-62,305.15
from the 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
742,609.63
to the Company’s business and conform with the national standard
amount or quantity)
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FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Other non-operating income and expenses other than the aforesaid
268,428.02
items
Less: Amount affected by the income tax 184,754.31
Total 763,978.19 --
For the Company’s non-recurring 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 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.
Inapplicable
II. Statement of total shareholders and shares held by the top 10 shareholders by the end of the reporting period
1. Quantity of the shares held by the common shareholders and preferred shareholders whose voting rights are
restored and statement of shareholding by the top 10 shareholders
In shares
Total preference shareholders with the
Total common shareholders at the end
37,827 voting power recovered at the end of the 0
of the reporting period
reporting period (if any)
Shareholding by top 10 shareholders
Number of the Pledging or freezing
Names of the Nature of the Shareholding Shareholding
restricted shares Status of the
Shareholders shareholder proportion quantity Quantity
held shares
AVIC International
State corporate 36.79% 162,977,327 0
Holding Limited
Domestic natural
#Yang Zugui 3.84% 17,018,806 0
person
Domestic natural
Yang Sancai 1.17% 5,202,700 0
person
ZHONGYIN FUND
- ICBC - Shanghai
Domestic
Haitong Securities
non-state-owned 0.23% 999,200 0
& Assets
legal person
Management Co.,
Ltd.
Domestic natural
Zhang Xuewei 0.22% 958,000 0
person
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FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Penghua Fund -
Minsheng Bank - Domestic
Penghua Fund - non-state-owned 0.21% 951,700 0
Huili No. 1 Assets legal person
Management Plan
Domestic natural
Ma Xinting 0.20% 900,000 0
person
Domestic natural
# Li Enhai 0.20% 883,500 0
person
Domestic natural
# Shen Xuewen 0.20% 883,420 0
person
Domestic natural
Liang Shaoyun 0.18% 781,312 0
person
Shares held by top 10 shareholders of unrestricted shares
Share type
Names of the Shareholders Quantity of unrestricted shares held a
Share type Quantity
CNY ordinary
AVIC International Holding Limited 162,977,327 162,977,327
shares
CNY ordinary
#Yang Zugui 17,018,806 17,018,806
shares
CNY ordinary
Yang Sancai 5,202,700 5,202,700
shares
ZHONGYIN FUND - ICBC - Shanghai
CNY ordinary
Haitong Securities & Assets 999,200 999,200
shares
Management Co., Ltd.
CNY ordinary
Zhang Xuewei 958,000 958,000
shares
Penghua Fund - Minsheng Bank -
CNY ordinary
Penghua Fund - Huili No. 1 Assets 951,700 951,700
shares
Management Plan
CNY ordinary
Ma Xinting 900,000 900,000
shares
CNY ordinary
# Li Enhai 883,500 883,500
shares
CNY ordinary
# Shen Xuewen 883,420 883,420
shares
CNY ordinary
Liang Shaoyun 781,312 781,312
shares
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FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Explanation on associated relationship
or consistent action of the above Inapplicable
shareholders
Note to the top 10 shareholders involved
in margin financing & securities lending Inapplicable
(if any)
Did the top ten common shareholders or top ten shareholders of unrestricted common shares conduct contractual
repurchase during the reporting period?
No
2. Total preferred shareholders and the shareholding by the top 10 preferred shareholders
Inapplicable
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FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Section 3 Significant Events
I. Changes of the major financial data and financial indicators during the reporting period and the causes
(I) Balance sheet items
Items Amount at the end of the Amount at the year Variation proportion (%) Cause of the movement
reporting period beginning
It was mainly due to increase of
the advance payment during
Advance payments 17,670,023.88 10,847,962.28 62.89%
the reporting period over the
year beginning
It was mainly due to partial
Accounts payable 109,655,368.72 279,772,787.37 -60.81% payment for goods procured
during the reporting period
It was mainly due to decrease
of the advances on sales during
Advance receipts 11,669,963.64 23,433,463.57 -50.20%
the reporting period over the
year beginning
Mainly consists of the
commissions of the previous
Payroll payable 43,225,454.85 82,602,845.67 -47.67% year,the year-end bonus, etc.
payable to employees during
the reporting period
(II) Profit Statement Items
Items Reporting period Same period of the previous Variation proportion (%) Cause of the movement
year
Mainly due to the impact of
COVID-19 epidemic upon the
Operating revenue 588,361,057.06 893,389,751.73 -34.14%
revenue from the watch
industry
Mainly due to that affected by
the decline of the revenue in
Taxes and surcharges 3,674,419.66 7,967,226.11 -53.88%
the reporting period., the VAT,
etc. decreased.
Mainly due to decrease of the
Other income 742,609.63 3,807,765.25 -80.50% government subsidy received
during the reporting period
Mainly due to decrease of the
Operation profit -18,792,471.52 82,187,315.46 -122.87% operation revenue during the
reporting period
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FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
(III)Items of Cash Flow Statement
Items Reporting period Same period of the previous Variation proportion (%) Cause of the movement
year
It mainly refers to the decrease
of sales revenue collection
Net cash flows arising
-106,747,751.88 10,730,388.47 -1094.82% during the reporting period
from operating activities
affected by the decline in
operation revenue
It mainly refers to the decrease
of the capital input for store
improvement during the
reporting period compared with
Net cash flow arising from
-24,341,946.96 -50,729,730.85 -52.02% the same period of last year
investment activities
and the project payment paid
for FIYTA Clock Building in the
same period of the previous
year.
It was mainly due to the mild
Net cash flow arising from increase of the bank loans over
82,992,799.27 22,731,443.97 265.10%
financing activities the same period of the previous
year during the reporting period
It mainly refers to the decrease
of sales revenue collection
Net increase of cash and
-48,188,978.55 -17,400,331.36 176.94% during the reporting period
cash equivalents
affected by the decline in
operation revenue
FIYTA's principal business activities are watch brand management and watch retails. The sudden outbreak of COVID-19
at the beginning of 2020 resulted in a serious negative impact on the offline consumption. During the reporting period, the
company launched the "War System", strictly in accordance with the deployment of the central government and superiors,
and did its best to prevent and control the epidemic. In order to cope with the impact of the epidemic on the business, the
Company quickly adjusted its business strategy, made full efforts to promote cost control, and strengthened cash flow
management. While carrying forward the resumption of work and production of offline channels, the Company also
accelerated the investment in online platforms, and actively expanded community marketing and social marketing through
WeChat, live show, etc. Judging from the performance of the operating data in each month of the first quarter, the
Company showed a robust market recovery ability and strong adaptability to the adjustment. In February, the month
worst affected by the epidemic, the Company's business revenue fell by more than 70% year on year and recorded a
substantial loss.In march, with the operating environment still extremely difficult, the Company's revenue returned to about
70% of the level of the same period last year with only a slight deficit. It is expected that the Company as a whole may
achieve monthly profit in April and gradually turn to normal in the second quarter. After the baptism with the epidemic, our
team shall be further enhanced in its combat capability.
At present, it is still uncertain about the development trend of the epidemic both at home and abroad and its subsequent
impact on the consumer market. The Company shall pay close attention to and actively cope with the situation. Under the
personal direction of General Secretary Xi Jinping, China has brought the epidemic under fundamental control. The
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FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Chinese government is trying every means to support the whole people to get through this tough time with various policies
and promote the economy recovery. At present, the Company has restored its production and operation basically to
normal, the rate of employees’ return to work has exceeded 96%, and there is no confirmed COVID-19 case; the
Company's offline sales channels have been basically restored to operation, and the sales have been improved day by
day. The order delivery of the Company's precision technology and smart watches and other innovative business as well
as the launch of new smart watches are being carried out in an planned way and the Company is maintaining a good
momentum of growth in its business. The Company shall continue to take "brand power, product power and channel
power" as the core, speed up the digital transformation, strengthen the competitive superiority; shall increase investment
in precision technology to build hard core strength; accelerate innovation-driven development, and promote the
Company's overall business to smart retail and high-end precision technology transformation and upgrading. The
Company believes that all the above work shall provide the Company with continuous impetus to meet market
opportunities and sustainable development in the future.
II. Progress of significant events, their effects and analysis on the solutions
1. Repurchase and Cancellation of the Partially Restricted Shares Involved in 2018 A Share Restricted Stock
Incentive Plan (Phase 1)
The 3rd session of the Ninth Board of Directors held on November 12, 2018 and 2019 1st Extraordinary General Meeting
held on January 11, 2019 decided to start 2018 A-Share Restricted Stock Incentive Program (Phase I), which was later on
reviewed and approved at the 5th session of the Ninth Board of Directors held on January 11, 2019, and the Company
eventually granted 4.224 million restricted A-shares to 128 persons eligible for the incentive. For the detail, refer to the
relevant announcement disclosed in the Securities Times, Hong Kong Commercial Daily and www.cninfo.com.cn on
January 12, 2019. This part of A-share restricted shares was all granted and registered for listing by January 30, 2019.
As three original incentive objects of the above incentive plan, namely Wu Yue (27,000 shares granted), Yang Shuzhi
(20,000 shares granted), Lin Yichao (20,000 shares granted) have resigned, according to the 2018 A-Share Restricted
Stock Incentive Plan (Phase I) (Draft Revision), they have no longer met the incentive conditions. The 15th session of
the Ninth Board of Directors held on January 10, 2020 and the 16th Session of the Board of Directors held on March 18,
2020 reviewed and approved the "Proposal on the Repurchase and Cancellation of Partial Restricted Shares in the 2018
A-Share Restricted Stock Incentive Plan (Phase I), according to which the Company was going to repurchase and cancel
67,000 A-share restricted shares held by the aforesaid three incentive objects, already granted but not yet lifted. The said
proposal is still necessary to be submitted to 2020 1st Extraordinary General Meeting for approval before implementation.
Inquiry index of the provisional reports
General on Significant Events Date of disclosure
disclosed in the website.
Announcement on the Resolution of the 15th
Session of the Ninth Board of Directors, January 11, 2020 www.cninfo.com.cn
2020-003
Announcement on Repurchase and
Cancellation of the Partially Restricted
January 11, 2020 www.cninfo.com.cn
Shares Involved in 2018 A Share Restricted
Stock Incentive Plan (Phase I) 2020-005
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FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Announcement on the Resolution of the 16th
Session of the Ninth Board of Directors, March 20, 2020 www.cninfo.com.cn
2020-011
Announcement on Repurchase and
Cancellation of the Partially Restricted
March 20, 2020 www.cninfo.com.cn
Shares Involved in 2018 A Share Restricted
Stock Incentive Plan (Phase I) 2020-016
Notice on Holding 2020 1st Extraordinary
March 27, 2020 www.cninfo.com.cn
General Meeting 2020-018
Progress of implementation of the stock repurchase
The 7th session of the Ninth Board of Directors held on April 4, 2019 and 2019 2nd Extraordinary General Meeting held on
April 23, 2019, reviewed and approved the “Proposal for the Repurchase of Partial Domestically Listed Foreign Shares
(B-shares) in the Company, and subsequently the Company disclosed the repurchase report and published a series of
announcements on the progress in accordance with relevant regulations. For detail of the above, please refer to the
relevant announcements disclosed by the Company in the Securities Times, Hong Kong Commercial Daily and
www.cninfo.com.cn.
As of the end of the reporting period, the Company repurchased 13,730,000 shares in the Company by way of centralized
bidding, accounting for 3.10% of the Company's total capital stock; the highest transaction price of the repurchased
shares was HK$6.56 per share, and the lowest transaction price was HK$5.55/share, the total amount paid has been
HK$83,367,947.33 (excluding stamp duty, commission, and other transaction expenses.) The Company’s repurchase of
the shares was in compliance with the relevant laws and regulations and in line with the Company's established
repurchase program.
Progress of implementation of reduction of the holding size of the shares repurchased by centralized bidding
Inapplicable
III. Commitments unfinished in implementation by the Company's actual controller, shareholders, related parties,
acquirer and the Company, etc. in the reporting period
Inapplicable
IV. Portfolio investment
Inapplicable
V. Entrusted financial management
Inapplicable
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FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
VI. Investment in derivatives
Inapplicable
VII. Registration Form of Activities of Reception for Investigation and Survey, Communications, Interviews, etc.
in the Reporting Period
Index of Basic Information on the
Time of Reception Way of Reception Types of Visitors Received
Investigation and Survey
http://irm.cninfo.com.cn/ircs/company/compa
January 08, 2020 Field survey Institution nyDetail?stockcode=000026&orgId=gssz000
0026
VIII. Outward guarantee against regulations
Inapplicable
IX. Non-operational Occupancy of the Company’s Capital by the Controlling Shareholder and its Related Parties
Inapplicable
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FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Section 4. Financial Statements
I. Financial Statements
1. Consolidated Balance Sheet
Prepared by FIYTA Precision Technology Co., Ltd.
March 31, 2020
In CNY
Items March 31, 2020 December 31, 2019
Current assets:
Monetary capital 268,479,586.54 316,668,565.09
Settlement reserve
Inter-bank lending
Transactional financial assets
Derivative financial assets
Notes receivable 9,668,859.78 10,596,431.31
Accounts receivable 311,885,195.69 397,471,106.98
Financing with accounts receivable
Advance payment 17,670,023.88 10,847,962.28
Receivable premium
Reinsurance accounts receivable
Reserve for reinsurance contract
receivable
Other receivables 49,717,683.27 47,239,844.58
Including: Interest receivable
Dividends receivable
Redemptory monetary capital for sale
Inventories 1,843,415,903.86 1,808,820,089.92
Contract assets
Held-for-sale assets
Non-current assets due within a year
Other current assets 69,096,258.54 68,858,096.74
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FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Total current assets 2,569,933,511.56 2,660,502,096.90
Non-current assets:
Loan issuing and advance in cash
Equity investment
Other equity investment
Long term accounts receivable
Long-term equity investment 46,423,837.85 46,423,837.85
Investment in other equity instruments 85,000.00 85,000.00
Other non-current financial assets
Investment-oriented real estate 403,692,645.30 407,503,307.24
Fixed assets 358,386,829.56 363,997,098.94
Construction-in-process
Productive biological asset
Oil and gas assets
Use right assets
Intangible assets 38,829,425.07 38,711,821.26
Development expenses
Goodwill
Long-term expenses to be apportioned 140,138,381.10 152,587,491.33
Deferred income tax asset 87,494,206.01 83,739,383.37
Other non-current assets 6,197,048.58 7,373,248.48
Total non-current assets 1,081,247,373.47 1,100,421,188.47
Total assets 3,651,180,885.03 3,760,923,285.37
Current liabilities:
Short term borrowings 678,466,219.71 567,908,833.21
Borrowings from central bank
Loans from other banks
Transactional financial liabilities
Derivative financial liabilities
Notes payable
Accounts payable 109,655,368.72 279,772,787.37
Advance receipts 11,669,963.64 23,433,463.57
Contract liabilities
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FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Income from sale of the repurchased
financial assets
Deposits taking and interbank
placement
Acting trading securities
Income from securities underwriting on
commission
Payroll payable 43,225,454.85 82,602,845.67
Taxes payable 23,288,035.07 24,064,803.00
Other payables 140,620,055.32 119,616,721.63
Including: interest payable
Dividends payable 848,233.27 848,233.27
Service charge and commission
payable
Payable reinsurance
Held-for-sale liabilities
Non-current liabilities due within a year 360,530.00 360,140.00
Other current liabilities
Total current liabilities 1,007,285,627.31 1,097,759,594.45
Non-current liabilities:
Reserve for insurance contract
Long-term borrowings 4,236,227.50 4,321,680.00
Bonds payable
Including: preferred shares
Perpetual bond
Lease liabilities
Long-term accounts payable
Long-term payroll payable
Estimated liabilities
Deferred income 3,046,090.60 3,046,090.60
Deferred income tax liability 1,256,242.49 1,256,242.49
Other non-current liabilities
Total non-current liabilities 8,538,560.59 8,624,013.09
Total liabilities 1,015,824,187.90 1,106,383,607.54
Owner’s equity:
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FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Capital stock 442,968,881.00 442,968,881.00
Other equity instruments
Including: preferred shares
Perpetual bond
Capital Reserve 1,083,156,650.58 1,081,230,215.32
Less: shares in stock 91,957,211.65 71,267,118.78
Other comprehensive income -932,506.16 -940,209.09
Special reserve
Surplus Reserve 235,701,180.14 235,701,180.14
Reserve against general risks
Retained earnings 966,413,682.52 966,840,818.40
Total owners’ equity attributable to the
2,635,350,676.43 2,654,533,766.99
parent company
Minority shareholders’ equity 6,020.70 5,910.84
Total owner’s equity 2,635,356,697.13 2,654,539,677.83
Total liabilities and owners’ equity 3,651,180,885.03 3,760,923,285.37
Legal representative: Huang Yongfeng Chief Financial Officer: Chen Zhuo Person in charge of the
Accounting Department: Tian Hui
2. Balance Sheet (Parent Company)
In CNY
Items March 31, 2020 December 31, 2019
Current assets:
Monetary capital 225,509,931.03 270,673,346.02
Transactional financial assets
Derivative financial assets
Notes receivable
Accounts receivable 7,728,736.59 2,848,025.39
Financing with accounts receivable
Advance payment
Other receivables 878,915,557.85 783,647,732.22
Including: Interest receivable
Dividends receivable
Inventories
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FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Contract assets
Held-for-sale assets
Non-current assets due within a year
Other current assets 14,570,623.48 12,380,243.67
Total current assets 1,126,724,848.95 1,069,549,347.30
Non-current assets:
Equity investment
Other equity investment
Long term accounts receivable
Long-term equity investment 1,382,285,766.91 1,380,895,239.27
Investment in other equity instruments 85,000.00 85,000.00
Other non-current financial assets
Investment-oriented real estate 326,845,239.02 329,970,083.18
Fixed assets 235,429,318.87 238,594,698.50
Construction-in-process
Productive biological asset
Oil and gas assets
Use right assets
Intangible assets 29,842,987.17 30,925,974.54
Development expenses
Goodwill
Long-term expenses to be apportioned 11,267,085.29 12,106,759.98
Deferred income tax asset 1,125,840.75 1,125,840.75
Other non-current assets 5,246,834.86 4,707,236.86
Total non-current assets 1,992,128,072.87 1,998,410,833.08
Total assets 3,118,852,921.82 3,067,960,180.38
Current liabilities:
Short term borrowings 650,746,476.67 540,650,622.50
Transactional financial liabilities
Derivative financial liabilities
Notes payable
Accounts payable 1,484,563.53 12,952,934.93
Advance receipts 2,679,507.07 3,434,407.04
Contract liabilities
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FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Payroll payable 13,021,118.57 19,019,554.57
Taxes payable 1,835,031.11 1,713,130.68
Other payables 65,132,401.16 82,631,590.46
Including: interest payable
Dividends payable 848,233.27 848,233.27
Held-for-sale liabilities
Non-current liabilities due within a year
Other current liabilities
Total current liabilities 734,899,098.11 660,402,240.18
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: preferred shares
Perpetual bond
Lease liabilities
Long-term accounts payable
Long-term payroll payable
Estimated liabilities
Deferred income 3,046,090.60 3,046,090.60
Deferred income tax liability
Other non-current liabilities
Total non-current liabilities 3,046,090.60 3,046,090.60
Total liabilities 737,945,188.71 663,448,330.78
Owner’s equity:
Capital stock 442,968,881.00 442,968,881.00
Other equity instruments
Including: preferred shares
Perpetual bond
Capital Reserve 1,088,812,191.68 1,086,885,756.42
Less: shares in stock 91,957,211.65 71,267,118.78
Other comprehensive income
Special reserve
Surplus Reserve 235,701,180.14 235,701,180.14
Retained earnings 705,382,691.94 710,223,150.82
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FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Total owner’s equity 2,380,907,733.11 2,404,511,849.60
Total liabilities and owners’ equity 3,118,852,921.82 3,067,960,180.38
Legal representative: Huang Yongfeng Chief Financial Officer: Chen Zhuo Person in charge of the
Accounting Department: Tian Hui
3. Consolidated Profit Statement
In CNY
Items Amount incurred in the reporting period Amount incurred in the previous period
I. Turnover 588,361,057.06 893,389,751.73
Including: operating income 588,361,057.06 893,389,751.73
Interest income
Earned insurance premium
Service charge and commission
income
II. Total operating costs 608,046,690.52 815,055,386.73
Including: Operating costs 354,482,460.46 532,797,117.99
Interest payment
Service charge and commission
payment
Surrender Value
Compensation expenses, net
Appropriation of deposit for duty,
net
Payment of policy dividend
Reinsurance expenses
Taxes and surcharges 3,674,419.66 7,967,226.11
Sales costs 183,463,601.55 199,499,630.53
Administrative expenses 49,093,729.64 55,752,416.90
R & D expenditures 9,810,864.52 9,953,936.60
Financial expenses 7,521,614.69 9,085,058.60
Where: Interest cost 6,565,834.69 6,209,488.02
Interest income 710,713.51 429,095.38
Plus: Other income 742,609.63 3,807,765.25
Investment income (loss is stated
with “-”)
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FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Including: return on investment in
associate and joint venture
Income from the
derecognition of the financial assets
measured at amortised cost
Exchange income (loss stated with
“-“)
Net exposure hedge income (loss
stated with “-“)
Income from change of fair value
(loss is stated with “-”)
Loss from impairment of credit
212,857.46 95,827.25
(loss is stated with “-”)
Loss from impairment of assets
(loss is stated with “-”)
Income from disposal of assets
-62,305.15 -50,642.04
(loss is stated with “-“)
III. Operating Profit (loss is stated with “-“) -18,792,471.52 82,187,315.46
Plus: Non-operating income 273,393.02 32,398.46
Less: non-operating expenditures 4,965.00 224,800.40
IV. Total profit (total loss is stated with “-”) -18,524,043.50 81,994,913.52
Less: Income tax expense -5,549,247.97 17,635,829.07
V. Net Profit (net loss is stated with “-“) -12,974,795.53 64,359,084.45
(I) Classification based on operation
sustainability
1. Net Profit from sustainable operation
-12,974,795.53 64,359,084.45
(net loss is stated with “-”)
2. Net Profit from termination of
operation (net loss is stated with “-”)
(II) Classification by ownership
1. Net profit attributable to the parent
-12,974,795.53 64,359,084.45
company’s owner
2. Minority shareholders’ gain/loss
VI. Net of other comprehensive income after
7,812.79 -3,567,296.18
tax
Net of other comprehensive income after
tax attributable to the parent company’s 7,702.93 -3,567,150.95
owner
19
FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
(I) Other comprehensive income which
cannot be re-classified into gain and loss
1. Movement of the net liabilities
and net assets re-measured for setting the
beneficial plan
2. Other comprehensive income
which cannot be converted into gain and loss
based on the equity method
3. Movement of the fair value of
the investment in other equity instruments
4. Movement of the fair value of
the Company’s own credit risk
5. Others
(II) Other comprehensive income which
7,702.93 -3,567,150.95
shall be re-classified into gain and loss
1. Other comprehensive income
which can be converted into gain and loss
based on the equity method
2. Movement of the fair value of
the investment in other debt instruments
3. Amount of the reclassified
financial assets counted to the other
comprehensive income
4. Provision for impairment of
the credit of the other debt investment
5. Reserve for cash flow hedge
6. Conversion difference in
7,702.93 -3,567,150.95
foreign currency statements
7. Others
Net amount of other comprehensive
income after tax attributable to minority 109.86 -145.23
shareholders
VII. Total comprehensive income -12,966,982.74 60,791,788.27
Total comprehensive income attributable
-12,967,092.60 60,791,933.50
to the parent company’s owner
Total comprehensive income attributable
109.86 -145.23
to minority shareholders
VIII. Earnings per share:
20
FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
(I) Basic earnings per share -0.0294 0.1467
(II) Diluted earnings per share -0.0294 0.1453
Legal representative: Huang Yongfeng Chief Financial Officer: Chen Zhuo Person in charge of the
Accounting Department: Tian Hui
4. Statement of Profit, Parent Company
In CNY
Items Amount incurred in the reporting period Amount incurred in the previous period
I. Revenue 26,379,756.89 32,237,822.48
Less: Operating cost 8,821,367.61 5,353,494.43
Taxes and surcharges 727,419.42 1,101,258.73
Sales costs 262,850.91
Administrative expenses 15,775,264.67 17,701,057.40
R & D expenditures 3,807,693.17 4,976,563.54
Financial expenses 1,890,037.46 1,785,619.37
Where: Interest cost 2,556,955.67 2,092,544.95
Interest income 650,773.18 358,260.51
Plus: Other income 61,679.85 2,126,000.00
Investment income (loss is stated
with “-”)
Including: return on investment in
associate and joint venture
Gain from the derecognition
of the financial assets measured at
amortised cost (loss is stated with “-”)
Net exposure hedge income
(loss stated with “-“)
Income from change of fair value
(loss is stated with “-”)
Loss from impairment of credit
(loss is stated with “-”)
Loss from impairment of assets
(loss is stated with “-”)
Income from disposal of assets
-2,074.20
(loss is stated with “-“)
II. Operating Profit (loss is stated with “-“) -4,843,196.50 3,443,754.81
21
FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Plus: Non-operating income 2,737.62 12,000.00
Less: non-operating expenditures 200,000.00
III. Total profit (total loss is stated with “-“) -4,840,458.88 3,255,754.81
Less: Income tax expense
IV. Net Profit (net loss is stated with “-“) -4,840,458.88 3,255,754.81
(I) Net Profit from sustainable
-4,840,458.88 3,255,754.81
operation (net loss is stated with “-”)
(II) Net Profit from termination of
operation (net loss is stated with “-”)
V. Net of other comprehensive income after
tax
(I) Other comprehensive income which
cannot be re-classified into gain and loss
1. Movement of the net
liabilities and net assets re-measured for
setting the beneficial plan
2. Other comprehensive
income which cannot be converted into gain
and loss based on the equity method
3. Movement of the fair value
of the investment in other equity instruments
4. Movement of the fair value
of the Company’s own credit risk
5. Others
(II) Other comprehensive income
which shall be re-classified into gain and
loss
1. Other comprehensive
income which can be converted into gain
and loss based on the equity method
2. Movement of the fair value
of the investment in other debt instruments
3. Amount of the reclassified
financial assets counted to the other
comprehensive income
4. Provision for impairment of
the credit of the other debt investment
22
FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
5. Reserve for cash flow
hedge
6. Conversion difference in
foreign currency statements
7. Others
VI. Total comprehensive income -4,840,458.88 3,255,754.81
VII. Earnings per share:
(I) Basic earnings per share -0.0110 0.0074
(II) Diluted earnings per share -0.0110 0.0073
Legal representative: Huang Yongfeng Chief Financial Officer: Chen Zhuo Person in charge of the
Accounting Department: Tian Hui
5. Consolidated Cash Flow Statement
In CNY
Items Amount incurred in the reporting period Amount incurred in the previous period
I. Net cash flows arising from operating
activities:
Cash received from sales of goods
717,413,076.16 975,041,907.75
and supply of labor service
Net increase of customers’ deposit and
due from banks
Net increase of borrowings from the
central bank
Net increase of borrowings from other
financial institutions
Cash received from the premium of
the original insurance contract
Net cash received from the
reinsurance business
Net increase of the reserve from policy
holders and investment
Cash received from interest, service
charge and commission
Net increase of loan from other banks
Net increase of fund from repurchase
business
23
FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Net cash received from securities
trading on commission
Rebated taxes received 257,310.78 1,702,739.93
Other operation activity related cash
9,436,996.31 20,886,425.52
receipts
Subtotal of cash flow in from operating
727,107,383.25 997,631,073.20
activity
Cash paid for purchase of goods and
559,509,759.87 641,518,556.89
reception of labor services
Net increase of loans and advances to
customers
Net increase of due from central bank
and due from other banks
Cash from payment for settlement of
the original insurance contract
Net increase of the lending capital
Cash paid for interest, service charge
and commission
Cash for payment of policy dividend
Cash paid to and for staff 168,291,839.52 180,290,878.29
Taxes paid 36,992,378.49 62,198,665.36
Other business activity related cash
69,061,157.25 102,892,584.19
payments
Subtotal of cash flow out from operating
833,855,135.13 986,900,684.73
activity
Net cash flows arising from operating
-106,747,751.88 10,730,388.47
activities
II. Net cash flow arising from investment
activities:
Cash received from recovery of
investment
Cash received from investment
income
Net cash from disposal of fixed assets,
intangible assets and recovery of other long 2,912.82 36,918.89
term assets
Net cash received from disposal of
subsidiaries and other operating units
24
FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Other investment related cash receipts
Subtotal of cash flow in from investment
2,912.82 36,918.89
activity
Cash paid for purchase/construction of
fixed assets, intangible assets and other 24,344,859.78 50,766,649.74
long term assets
Cash paid for investment
Net increase of the pledged loan
Net cash paid for acquisition of
subsidiaries and other operation units
Other investment related cash
payments
Subtotal of cash flow out from investment
24,344,859.78 50,766,649.74
activity
Net cash flow arising from investment
-24,341,946.96 -50,729,730.85
activities
III. Net cash flow arising from financing
activities:
Cash received from absorbing
18,585,600.00
investment
Incl.: Cash received from the
subsidiaries’ absorption of minority
shareholders’ investment
Cash received from loans 200,000,000.00 210,000,000.00
Other fund-raising related cash
receipts
Subtotal of cash flow in from fund raising
200,000,000.00 228,585,600.00
activity
Cash paid for debt repayment 90,000,000.00 199,632,048.06
Cash paid for dividend/profit
6,304,375.08 6,222,107.97
distribution or repayment of interest
Including: Dividend and profit paid by
the subsidiaries to minority shareholders
Cash paid for other financing activities 20,702,825.65
Sub-total cash flow paid for financing
117,007,200.73 205,854,156.03
activities
Net cash flow arising from financing
82,992,799.27 22,731,443.97
activities
25
FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
IV. Influence of the change of exchange rate
-92,078.98 -132,432.95
on the cash and cash equivalents
V. Net increase of cash and cash
-48,188,978.55 -17,400,331.36
equivalents
Plus: Opening balance of cash and
315,093,565.09 162,623,059.97
cash equivalents
VI. Ending balance of cash and cash
266,904,586.54 145,222,728.61
equivalents
Legal representative: Huang Yongfeng Chief Financial Officer: Chen Zhuo Person in charge of the
Accounting Department: Tian Hui
6. Cash Flow Statement, Parent Company
In CNY
Items Amount incurred in the reporting period Amount incurred in the previous period
I. Net cash flows arising from operating
activities:
Cash received from sales of goods
21,432,068.81 34,539,681.84
and supply of labor service
Rebated taxes received
Other operation activity related cash
867,764,855.43 875,652,514.96
receipts
Subtotal of cash flow in from operating
889,196,924.24 910,192,196.80
activity
Cash paid for purchase of goods and
reception of labor services
Cash paid to and for staff 18,989,965.73 23,140,836.36
Taxes paid 4,030,582.74 2,725,897.25
Other business activity related cash
980,594,240.37 900,850,128.56
payments
Subtotal of cash flow out from operating
1,003,614,788.84 926,716,862.17
activity
Net cash flows arising from operating
-114,417,864.60 -16,524,665.37
activities
II. Net cash flow arising from investment
activities:
Cash received from recovery of
investment
26
FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Cash received from investment
income
Net cash from disposal of fixed assets,
intangible assets and recovery of other long 23,000.00
term assets
Net cash received from disposal of
subsidiaries and other operating units
Other investment related cash receipts
Subtotal of cash flow in from investment
23,000.00
activity
Cash paid for purchase/construction of
fixed assets, intangible assets and other 13,830,945.06 29,300,461.40
long term assets
Cash paid for investment
Net cash paid for acquisition of
subsidiaries and other operation units
Other investment related cash
payments
Subtotal of cash flow out from investment
13,830,945.06 29,300,461.40
activity
Net cash flow arising from investment
-13,830,945.06 -29,277,461.40
activities
III. Net cash flow arising from financing
activities:
Cash received from absorbing
18,585,600.00
investment
Cash received from loans 200,000,000.00 210,000,000.00
Other fund-raising related cash
receipts
Subtotal of cash flow in from fund raising
200,000,000.00 228,585,600.00
activity
Cash paid for debt repayment 90,000,000.00 195,000,000.00
Cash paid for dividend/profit
6,242,457.22 5,887,220.50
distribution or repayment of interest
Cash paid for other financing activities 20,702,825.65
Sub-total cash flow paid for financing
116,945,282.87 200,887,220.50
activities
27
FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Net cash flow arising from financing
83,054,717.13 27,698,379.50
activities
IV. Influence of the change of exchange rate
30,677.54 -40,167.58
on the cash and cash equivalents
V. Net increase of cash and cash
-45,163,414.99 -18,143,914.85
equivalents
Plus: Opening balance of cash and
269,098,346.02 134,970,466.27
cash equivalents
VI. Ending balance of cash and cash
223,934,931.03 116,826,551.42
equivalents
Legal representative: Huang Yongfeng Chief Financial Officer: Chen Zhuo Person in charge of the
Accounting Department: Tian Hui
II. Note to the Adjustment of the Financial Statements
1. Adjustment of the relevant financial statements at the current year beginning according to the new standards
for revenues and the new standards for lease initially implemented commencing from 2020
Consolidated Balance Sheet
In CNY
Items December 31, 2019 January 01, 2020 Amount involved in the adjustment
Current assets:
Monetary capital 316,668,565.09 316,668,565.09
Notes receivable 10,596,431.31 10,596,431.31
Accounts receivable 397,471,106.98 397,471,106.98
Advance payments 10,847,962.28 10,847,962.28
Other receivables 47,239,844.58 47,239,844.58
Inventories 1,808,820,089.92 1,808,820,089.92
Other current assets 68,858,096.74 68,858,096.74
Total current assets 2,660,502,096.90 2,660,502,096.90
Non-current assets:
Long-term equity
46,423,837.85 46,423,837.85
investment
Investment in other equity
85,000.00 85,000.00
instruments
Investment-oriented real
407,503,307.24 407,503,307.24
estate
28
FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Fixed assets 363,997,098.94 363,997,098.94
Intangible assets 38,711,821.26 38,711,821.26
Long-term expenses to be
152,587,491.33 152,587,491.33
apportioned
Deferred income tax asset 83,739,383.37 83,739,383.37
Other non-current assets 7,373,248.48 7,373,248.48
Total non-current assets 1,100,421,188.47 1,100,421,188.47
Total assets 3,760,923,285.37 3,760,923,285.37
Current liabilities:
Short term borrowings 567,908,833.21 567,908,833.21
Accounts payable 279,772,787.37 279,772,787.37
Advance receipts 23,433,463.57 3,434,407.04 -19,999,056.53
contract liability 19,999,056.53 19,999,056.53
Payroll payable 82,602,845.67 82,602,845.67
Taxes payable 24,064,803.00 24,064,803.00
Other payables 119,616,721.63 119,616,721.63
Dividends
848,233.27 848,233.27
payable
Non-current liabilities due
360,140.00 360,140.00
within a year
Total current liabilities 1,097,759,594.45 1,097,759,594.45
Non-current liabilities:
Long-term borrowings 4,321,680.00 4,321,680.00
Deferred income 3,046,090.60 3,046,090.60
Deferred income tax
1,256,242.49 1,256,242.49
liability
Total non-current liabilities 8,624,013.09 8,624,013.09
Total liabilities 1,106,383,607.54 1,106,383,607.54
Owner’s equity:
Capital stock 442,968,881.00 442,968,881.00
Capital reserve 1,081,230,215.32 1,081,230,215.32
Less: shares in stock 71,267,118.78 71,267,118.78
Other comprehensive
-940,209.09 -940,209.09
income
Surplus reserve 235,701,180.14 235,701,180.14
29
FIYTA Precision Technology Co., Ltd. 2020 First Quarter Report, Full Text
Retained earnings 966,840,818.40 966,840,818.40
Total owners’ equity attributable
2,654,533,766.99 2,654,533,766.99
to the parent company
Minority shareholders’
5,910.84 5,910.84
equity
Total owner’s equity 2,654,539,677.83 2,654,539,677.83
Total liabilities and owners’
3,760,923,285.37 3,760,923,285.37
equity
Note to the Adjustment
Inapplicable
2. Note to the retroactive adjustment of the previous comparative data according to the new standards for
revenue and the new standards for lease to be implemented commencing from year 2020
Inapplicable
III. Auditor’s Report
Has the first quarter report been audited
No
30
