证券代码（A/H）：000063/763 证券简称(A/H)：中兴通讯 公告编号：202142
中兴通讯股份有限公司
关于按照《香港上市规则》公布
2020 年年度报告
本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误
导性陈述或重大遗漏。
中兴通讯股份有限公司根据《香港联合交易所有限公司证券上市规则》（简
称 “《 香 港 上 市 规 则 》”） 规 定 ， 在 香 港 联 合 交 易 所 有 限 公 司 披 露 易 网 站
（www.hkexnews.hk）刊登了《2020 年年度报告》。
根据《深圳证券交易所股票上市规则（2020 年修订）》15.1 条关于境内外
同步披露的要求，特将有关公告同步披露如下，供参阅。
特此公告。
中兴通讯股份有限公司董事会
2021 年 4 月 9 日
: 000063.SZ 763.HK
2020
2020 12 31
2020
A H
10 2 2020
2020
A H
2021
(http://www.cninfo.com.cn)
2
4
7
8
11
13
17
20
48
82
89
97
114
120
272
278
376
571
2
二零二零年年度報告
ST
Enablence Technologies Enablence Technologies Inc.
2017 2016 2017 A
2017 H
2020 2020
3
4G ITU IMT-Advanced LTE-Advanced Wireless
MAN-Advanced (802.16m) 1Gbit/s 100Mbit/s
5G 4G 5G
1,000 100
10 1/5
ICT IT CT ICT
AI (Artificial Intelligence)
PON (Passive Optical Network)
MEC (Mobile Edge Computing) IT
CDN (Content Delivery Network)
4K/8K/VR/AR
4K
4,096
FOV (Field of Vision)
VR
SaaS PaaS IaaS
4
二零二零年年度報告
(Volume) (Variety) (Velocity)
(Value) 4V
Internet
5
二零二零年年度報告
公司簡介
1997 11 A 2004 12 H
A
ICT
160 1/4
1
ZTE Corporation
ZTE
2
3
55
+86 755 26770282
+86 755 26770286
IR@zte.com.cn
4
518057
http://www.zte.com.cn
IR@zte.com.cn
1 31
5
6
http://www.cninfo.com.cn
http://www.hkexnews.hk
55
7 A
000063
H
763
8
二零二零年年度報告
公司基本情況
8
183 17 1712–16
9
20
1 21–22
10
1 16
1 22
11
6003 B 22
2020 2 4 2021 12 31
12 √
9144030027939873X7
A
9
二零二零年年度報告
董事長報告書
2020 1,014.51
11.81%
42.60 0.92
2020 680.51
334.00
2020
5G
5G 240+ 5G
5G 500
5G
ICT
2020
2020 12
31
11
2021
toC
2021
2021 3
12
二零二零年年度報告
會計數據和財務指標摘要
√
1
2020 2019 2018
101,450.7 90,736.6 11.81% 85,513.2
5,470.7 7,552.2 (27.56%) (612.0)
5,064.2 7,161.7 (29.29%) (7,350.2)
4,259.8 5,147.9 (17.25%) (6,983.7)
1,035.6 484.7 113.66% (3,395.5)
10,232.7 7,446.6 37.41% (9,215.4)
2020 2019 2018
150,634.9 141,202.1 6.68% 129,350.7
104,512.4 103,247.8 1.22% 96,390.1
43,296.8 28,826.9 50.20% 22,897.6
4,613.4 4,227.5 9.13% 4,192.7
A 381,098,968 2017 4,806,061 A
4,227,529,869 4,613,434,898
2020 2020 2020 2020
21,484.5 25,714.9 26,930.1 27,321.2
780.0 1,077.3 854.8 1,547.7
160.2 741.9 543.7 (410.2)
372.4 1,668.4 1,828.1 6,363.8
13
2
2020 2019 2018
1
0.92 1.22 (24.59%) (1.67)
2
0.92 1.22 (24.59%) (1.67)
1
0.22 0.12 83.33% (0.81)
9.78
10.18% 19.96% (26.10%)
0.59
2.47% 1.88% (12.69%)
3
2.22 1.76 26.14% (2.20)
2020 2019 2018
3
9.39 6.82 37.68% 5.46
3.74
69.38% 73.12% 74.52%
1 2020 2019 2018
2 2020 2019 2018 21,153,000 18,349,000 0
3 2020 2019 2018 2020 2019 2018
3
2020 2019 2018
3,751.5 3,359.7 3,117.7
(108.5) (120.1) 51.8
854.1 170.9 668.7
— (2,688.0) 34.2
644.3 574.2 6,851.3
7.7 20.2 1,161.4
576.8 825.6 (631.3)
44.1 15.3 10.8
3,224.2 4,663.2 (3,588.2)
14
二零二零年年度報告
會計數據和財務指標摘要
1
12 31
2020 2019 2018 2017 2016
101,450.7 90,736.6 85,513.2 108,815.3 101,233.2
(69,888.9) (58,878.0) (58,638.3) (76,116.5) (71,312.5)
31,561.8 31,858.6 26,874.9 32,698.8 29,920.7
4,836.3 6,816.1 4,630.4 6,950.9 6,116.0
(14,797.0) (12,547.9) (10,905.6) (12,962.2) (11,689.2)
(7,578.8) (7,868.7) (9,084.5) (12,260.0) (12,622.4)
(5,463.5) (5,289.1) (4,106.2) (3,237.7) (2,731.0)
(503.4) (2,228.4) (3,654.9) — —
(187.5) (209.4) (320.3) — —
(887.5) (975.7) (8,978.3) (3,184.9) (8,651.0)
6,980.4 9,555.5 (5,544.5) 8,004.9 343.1
(1,495.7) (1,718.2) (1,008.4) (1,157.8) (1,156.1)
(420.5) (675.6) (797.3) (128.2) 45.2
5,064.2 7,161.7 (7,350.2) 6,718.9 (767.8)
(342.5) (1,385.0) 400.9 (1,332.6) (640.1)
4,721.7 5,776.7 (6,949.3) 5,386.3 (1,407.9)
(445.7) (280.2) 382.6 (316.8) (448.2)
(16.2) (348.6) (417.0) (501.3) (501.3)
4,259.8 5,147.9 (6,983.7) 4,568.2 (2,357.4)
12 31
2020 2019 2018 2017 2016
150,634.9 141,202.1 129,350.7 143,962.2 141,408.2
104,512.4 103,247.8 96,390.1 98,582.1 100,523.1
2,825.7 2,875.1 3,810.6 4,411.9 5,162.6
— 6,252.4 6,252.4 9,321.3 9,321.3
43,296.8 28,826.9 22,897.6 31,646.9 26,401.2
15
2
2020 2019 2018 2017 2016
1
0.92 1.22 (1.67) 1.09 (0.57)
2
9.39 6.82 5.46 7.55 6.31
9.84% 17.86% (30.50%) 14.43% (8.93%)
1
2
2020 2020
16
二零二零年年度報告
公司業務概要
ICT
7
5G 5G
5G
25
5G
GoldenDB ICT 20
100 GoldenDB
17
5G 5G
FAST
5G 5G
5G
3 240+ 5G 5G
5G 5G 9 300
5G 4 5G
5G AI 5G 20%
5G (TM Forum)
IP SRv6 IP 5G FlexE
Flex Shaping 100G
30% 100G 2020
(Best Enterprise Private Line Solution)
TITAN GlobalData leader PON
16 PON 2
OLT MEC Lay123 BBWF Wi-Fi6
HOL 10 PON OLT
FOV 2D
3D
uSmart
5G
5G
CDN 150
1.5
2020 12 31 160 386
300
5G
500 5G 5G 4
18
二零二零年年度報告
公司業務概要
5G 2020
8 3.6 4,270
1,800 IPLytics 2021 2 ETSI 5G
ITU 3GPP ETSI IEEE
NGMN CCSA 70
GSA ETSI 60
10
19
ICT
2020 12 31
123 278
2020 12 31
13–14
2020 12 31
15–16 12 31 2016 2017 2018
2019 2020
2020
1 2020
2020 2020
1.36 3.6% (DOU)
10.35GB/ 32% 2020
2020 5G 5G
5G 5G 70 5G
2 2020
2020 5G GSA 2020 12 59 140
5G 61 5G 5G 2020
5G 2 10
20
二零二零年年度報告
3 2020
2020
1,014.51 11.81%
2020
42.60 0.92
(1)
680.51 67.08% 2020
5G 5G 240+
5G 5G 500 5G
334.00 32.92% 2020
ICT
(2)
740.18 112.72
161.60
2020 5G
Dell’Oro Group 2020 5G
5G 5G
ROADM FTTx
2020 GoldenDB
3 5G 5G ICT 2020
4
2020
Axon 20 5G 5G
21
1
101,450.7 100.00% 69,379.2 31.61% 11.81% 21.70% (5.56)
101,450.7 100.00% 69,379.2 31.61% 11.81% 21.70% (5.56)
74,018.2 72.96% 49,005.8 33.79% 11.16% 28.25% (8.82)
11,272.2 11.11% 8,023.6 28.82% 23.13% 23.73% (0.34)
16,160.3 15.93% 12,349.8 23.58% 7.75% 0.30% 5.68
101,450.7 100.00% 69,379.2 31.61% 11.81% 21.70% (5.56)
68,051.2 67.08% 48,414.6 28.86% 16.89% 38.30% (11.01)
14,729.3 14.52% 8,348.2 43.32% 11.75% 2.54% 5.09
4,822.6 4.75% 2,492.0 48.33% (9.28%) (16.09%) 4.19
13,847.6 13.65% 10,124.4 26.89% (1.25%) (7.02%) 4.54
101,450.7 100.00% 69,379.2 31.61% 11.81% 21.70% (5.56)
(1)
2020 101,450.7 11.81% 68,051.2
16.89% 33,399.5 2.71%
2020
2020 11.16% 5G
2020 23.13%
2020
7.75%
22
二零二零年年度報告
(2)
2020 2019
101,450.7 69,379.2 31.61% 90,612.6 56,933.4 37.17% 11.96% 21.86% (5.56)
2019 2020
2020
1 6 2020 1 20 2020 2 27 2020 3 10 2020 5 9 2020 5 12 2020 7 17
2020 8 26 2020 10 27 2020 12 4
2020 3
5.1% 2020 3
2020 12 100% 2020 12
(3)
2
2020 2019
53,147.4 76.60% 42,500.1 74.55% 25.05%
12,799.0 18.45% 12,121.8 21.26% 5.59%
65,946.4 95.05% 54,621.9 95.81% 20.73%
23
3
2020 2019
7,578.8 7,868.7 (3.68%)
4,995.0 4,772.8 4.66%
420.5 966.0 (56.47%) 1
342.5 1,385.0 (75.27%) 2
1
2
4
2020 2019
31,747 28,301 12.18%
43.07% 40.39% 2.68
14,797.0 12,547.9 17.92%
14.59% 13.83% 0.76
2,242.4 2,272.6 (1.33%)
15.15% 18.11% 2.96
5
2020 2019
125,472.2 105,339.3 19.11%
115,239.6 97,892.7 17.72%
10,232.7 7,446.6 37.41% 1
7,044.8 4,563.2 54.38%
14,126.9 10,586.3 33.45%
(7,082.1) (6,023.1) (17.58%)
62,334.1 45,937.9 35.69%
62,624.0 40,216.2 55.72%
(289.9) 5,721.7 (105.07%) 2
2,897.3 7,371.7 (60.70%)
1
2
24
二零二零年年度報告
57
6
(1)
(2)
2020 5,470.7 27.56% 2019 7 11
27,791.3 6.25%
906.4 263.43%
(3)
2020 31.61% 5.56
7
(1)
2020 2019
150,634.9 100% 141,202.1 100% —
35,659.8 23.67% 33,309.3 23.59% 0.08
15,891.0 10.55% 19,778.3 14.01% (3.46)
33,689.3 22.36% 27,688.5 19.61% 2.75
2,035.2 1.35% 1,957.2 1.39% (0.04)
1,713.8 1.14% 2,327.3 1.65% (0.51)
11,913.9 7.91% 9,383.5 6.65% 1.26
1,039.9 0.69% 1,171.7 0.83% (0.14)
10,559.2 7.01% 26,646.0 18.87% (11.86)
2,104.7 1.40% 612.3 0.43% 0.97
22,614.3 15.01% 10,045.1 7.11% 7.90
25
(2)
1.
560,662 (16,364) — — 578,242 789,337 — 1,036,906
2. 106,065 (70,896) 949 — — — — 36,118
3. 2,430,389 — — (497) 14,688,992 15,149,254 — 1,970,624
4. 1,594,254 153,859 — — 1,344 223,257 — 1,536,741
4,691,370 66,599 949 (497) 15,268,578 16,161,848 — 4,580,389
1,957,242 1,758 — — — — 76,234 2,035,234
— — — — — — — —
— — — — — — — —
6,648,612 68,357 949 (497) 15,268,578 16,161,848 76,234 6,615,623
126,223 29,334 (1,596) — — — — 153,961
(3)
58
8
2020 31,153.9 30.71%
62,331.7 61.44%
5%
5%
26
二零二零年年度報告
2020 3,399.4 5.52%
10,734.2 17.43%
5%
9
(1)
171,380.3 2019 12 31 232,728.8
26.36% 257,364.7 2019 12 31 215,491.6 19.43%
(2)
(3)
18,905.64 (1,912.50) — 1,394.16 71,681.67 25,151.96 51,496.96
— (7,089.60) 94.90 — — (9,992.44) 3,611.82
162,618.32 15,661.91 — 1,525,463.63 1,544,503.11 5,479.03 402,930.16
181,523.96 6,659.81 94.90 1,526,857.79 1,616,184.78 20,638.55 458,038.94 —
27
(4)
A
002902 1
379.30 4,102.22 (3,722.92) — — 3,127.90 (1,123.53) —
300691 2
1,277.63 4,743.33 (3,465.70) — — 4,889.33 (158.76) —
002796 2
789.69 2,776.63 (1,986.94) — — 3,525.03 574.99 —
002579 2
1,382.31 — (174.23) — 1,382.31 — (163.59) 1,208.08
603068 3
2,175.99 9,097.11 (6,921.12) — — 7,962.49 (1,453.39) —
688019 3
4,350.00 27,512.92 1,767.23 — — 52,165.18 48,168.46 26,609.50
688300 3
1,000.83 4,090.50 592.50 — — — 642.50 4,683.00
688595 3
1,955.00 5,046.67 6,376.11 — — — 6,376.11 11,422.78
688135 3
1,999.78 946.98 5,911.75 — — — 5,911.75 6,858.73
601258 ST 4
11.85 — (0.11) — 11.85 11.74 (0.11) —
ENA Enablence 3,583.26 1,003.94 (289.07) — — — (289.07) 714.87
TSV Technologies 5
— — — — — — — — — — —
18,905.64 — 59,320.30 (1,912.50) — 1,394.16 71,681.67 58,485.36 51,496.96 — —
1 31%
2 31.79%
3 25.83%
4 ST 2020 ST ST ST
5 2015 1 6 Enablence Technologies 270 2015 1 31
1 5.15963 1,393.10 2016 2 2 Enablence Technologies
462 2016 2 29 1 4.74060 2,190.16
850.20 2020 12 31 1 0.84083 714.87
B
a
2020 176.82
28
二零二零年年度報告
b
2020 258.35
c
2020 77.13
d
2020
106.36 0.21%
e
2020 112.22
f
2020 142.10
89.35 1.68%
g
100
1.16%
h
2020 9 28
195.65 1.96%
i
2020 11 11
177.60 1.30%
j ST
2020 ST ST ST
10.89 ST
ST
29
k Enablence Technologies
2014 12 4 Enablence Technologies SUBSCRIPTION AGREEMENT
2015 1 6 Enablence Technologies 1,800 270
2016 1 27 Enablence Technologies SUBSCRIPTION AGREEMENT 2016 2 2
Enablence Technologies 7,700 462
Enablence Technologies9,500 Enablence Technologies 14.80%
l
3
1 2
(%)
— 2020/3/11 2021/12/30 1,449,815.20 1,531,660.16 2,301,693.02 — 679,782.34 15.70% (19,798.11)
— 2020/12/26 2022/12/26 4,471.13 — 1,490.38 — 2,980.75 0.07% (181.97)
— — — 1,454,286.33 1,531,660.16 2,303,183.40 — 682,763.09 15.77% (19,980.08)
2019 3 27
2019 2020 3 27
2020
2019 5 30 2018 2020 6 19
2019
30
二零二零年年度報告
2020
1.
2.
3.
4.
5.
1.00 1.00 2.00
1
2
3
31
(4)
a.
1
52,900 52,900 —
52,900 52,900 —
1
b.
√
(5)
√
2020 1,145,941.87 635,184.31 1,132,429.46 — — — — — —
— 1,145,941.87 635,184.31 1,132,429.46 — — — — — —
1,151,299.98 1,145,941.87
2020 1,132,429.46 2021 1 29
A 1.38
2021 2
13,816.06
1,151,299.98 1,145,941.87
32
二零二零年年度報告
√
(1) (2) (3) (2) (1)
5G 755,941.87 755,941.87 245,184.31 742,429.46 98.21% —
390,000.00 390,000.00 390,000.00 390,000.00 100.00% —
— 1,145,941.87 1,145,941.87 635,184.31 1,132,429.46 — — — — —
— — — — — — — — — —
— — — — — — — — — —
— — — — — — — — — —
— 1,145,941.87 1,145,941.87 635,184.31 1,132,429.46 — — — — —
2020 2 14
49.72
(2020) 60438556_H01
33
5G
5G
2020 7 28 2021 1 29
2020 1 1 2020 6 30
2020 7 1 2020 12 31 13.57
10.95
(2020)
60438556_H05
(2021) 60438556_H01
2020 2 14
25
25
12
2020 7 28
25
2020 7 28
12.80
2021 1 29
2021 1 28
12.20
25
12
34
二零二零年年度報告
2021 1 29
A
A 1.38
(1)
(2)
2021 2
13,816.06
2020 12 31 12.20
2021 1 28
12.20
12
√
10
11
5,108 9,383.2 1,774.0 16,600.9 1,611.4 1,688.6
3,000 1,416.0 1,302.7 — 623.1 608.8
13,157.8947 6,535.6 5,068.0 9,173.9 560.1 525.4
99,500 18,861.1 461.9 12,342.0 (480.6) (622.6)
100,000 11,686.2 2,268.0 30,329.1 1,317.6 970.2
35
30%
30%
4.
12 41 —
2020 2019
74,018.2 66,584.4
11,272.2 9,154.8
16,160.3 14,997.4
101,450.7 90,736.6
(69,888.9) (58,878.0)
31,561.8 31,858.6
4,836.3 6,816.1
(14,797.0) (12,547.9)
(7,578.8) (7,868.7)
(5,463.5) (5,289.1)
(503.4) (2,228.4)
(187.5) (209.4)
(887.5) (975.7)
6,980.4 9,555.5
(1,495.7) (1,718.2)
(420.5) (675.6)
5,064.2 7,161.7
(342.5) (1,385.0)
4,721.7 5,776.7
(445.7) (280.2)
(16.2) (348.6)
4,259.8 5,147.9
(295.3) 49.4
4,426.4 5,826.1
922.7 922.7
— 0.92 1.22
— 0.92 1.22
36
二零二零年年度報告
2020 2019
74,018.2 73.0% 66,584.4 73.4%
11,272.2 11.1% 9,154.8 10.1%
16,160.3 15.9% 14,997.4 16.5%
101,450.7 100.0% 90,736.6 100.0%
2020 2019
68,051.2 67.1% 58,217.0 64.2%
14,729.3 14.5% 13,180.3 14.5%
4,822.6 4.8% 5,316.1 5.9%
13,847.6 13.6% 14,023.2 15.4%
101,450.7 100.0% 90,736.6 100.0%
2020 101,450.7 11.8% 68,051.2
16.9% 33,399.5 2.7%
2020
2020 11.2% 5G
2020 23.1%
2020 7.8%
37
(1) (2)
2020 2019
49,443.5 66.8% 39,701.5 59.6%
8,055.1 71.5% 6,636.1 72.5%
12,390.3 76.7% 12,540.4 83.6%
69,888.9 68.9% 58,878.0 64.9%
2020 2019
24,574.7 33.2% 26,882.9 40.4%
3,217.1 28.5% 2,518.7 27.5%
3,770.0 23.3% 2,457.0 16.4%
31,561.8 31.1% 31,858.6 35.1%
2020 69,888.9 18.7%
2020 4.0
31.1%
2020 49,443.5 24.5% 33.2%
40.4%
2020 8,055.1 21.4% 28.5%
27.5%
2020 12,390.3 1.2% 23.3%
16.4%
2020 4,836.3 2019 6,816.1 29.0%
2019 7 11
38
二零二零年年度報告
2020 14,797.0 2019 12,547.9 17.9%
5G 14.6% 2019
13.8% 0.8
2020 7,578.8 2019 7,868.7 3.7%
7.5% 2019 8.7%
1.2
2020 5,463.5 2019 5,289.1 3.3%
5.4% 2019 5.8% 0.4
2020 503.4 2019 2,228.4
77.4%
2020 187.5 2019 209.4
10.5%
2020 887.5
2019 975.7 9.0%
2020 6,980.4 6.9% 2019 9,555.5
2019 7 11
2020 1,495.7 2019 1,718.2 12.9%
2020 342.5 2019 1,385.0 75.3%
39
2020 445.7 2019 280.2 165.5
2020 –295.3 2019 49.4
2020 44.2% 2019 50.3% 6.1
A
2020
2020 12 31 31,403.1
2020 2019
4,701.0 4,903.4
(4,501.4) (6,120.2)
2,661.0 8,362.0
2,860.6 7,145.2
31,403.1 28,505.8
2020 4,701.0 2019 4,903.4
19,157.6 423.6
15,697.1
3,190.0
40
二零二零年年度報告
2020 4,501.4 2019 6,120.2
2020 2,661.0 2019 8,362.0
60
2020 8,471.3 2019 5,501.7
12 31
2020 2019
452.4 252.2
34,372.6 36,530.9
12 31
2020 2019
12,210.7 26,738.0
22,614.3 10,045.1
2,137.8 653.7
493.2
2020 2019 1,958.1
41
2020 12 31
34,825.0 12,210.7 22,539.6 74.7
12 31
2020 2019
— —
12,832.3 13,559.3
12,832.3 13,559.3
12 31
2020 2019
2,837.2 3,097.0
13.0 48.7
2020 12 31 11
2020 12 31 19
20
2020
42
二零二零年年度報告
2020 12 31
2020 12 31 35
2020 12 31 9
2021
43
√
2020 4
2020 11
2020 1–12
2021
1 2021
5 5G
5G
5G ICT
5G
44
二零二零年年度報告
5G
5G
2021
2
(1)
100
GDPR General Data Protection Regulation
(2)
ZTE
ZTE
(3)
(4)
45
(5)
1
14
2
2020 12 31 35
3
41
54
4
5
39
6
7
8
622 470 2020 12 31
622 391(1)(a)
46
二零二零年年度報告
9
[1993]045
[2011]348
2019 35
H
10
11
12
53
47
1 2020
2020 2,723,601
4,208,836 2019 922,687
192,952 5,816,798
2020 3,132,041
3,315,404 2019 922,687
192,952 5,331,806
5,331,806
2020 A H 10 2
2020
2020 A H
2020 2021 8
31
2
2020 3 27 2019
A H 10 2 2020 6 19
2019 4,613,434,898 A
3,857,932,364 H 755,502,534 10 2 A 2020 8
11 A 2020 8 12 H 2020 6 30 2020 8 12 2019
2020 8 12
2018–2020 242.59%
48
二零二零年年度報告
3
2018 2018 2019 10
2 2019 2020 10 2
2020 92,268.70 1
425,975.20 21.66% 11,476.56 2 2.69% 103,745.26 24.35%
2019 92,268.70 514,787.70 17.92% — — 92,268.70 17.92%
2018 — (698,366.20) — — — — —
1 2020 2021 3 16 4,613,434,898
A H 2017 A 39,726,486 2021
7 6 2022 7 5 A 4,653,161,384
9.31
2 2020 A 2,973,900 A
11,476.56
49
1 2010 6 11 Universal Telephone Exchange, Inc. UTE
ZTE USA, Inc.
UTE UTE 2,000 UTE
UTE UTE 1,000
2,000
2012 2 23 UTE 2012 3 1
UTE
2012 5 1 UTE UTE
2014 9 19 2017 2 17 UTE
2017 2 21 2017 3
16 UTE 2017 6 19
UTE 2017
7 7 2018 11 19
2018
12 4 UTE 2019 1 4 UTE
2019 2 14 UTE
2019 4 1 UTE 2019 10 4
UTE 2020 1 2 UTE 2020 2 24
UTE
2 2011 7 26 InterDigital Communications,LLC InterDigital Technology Corporation IPR Licensing,Inc
InterDigital, Inc. (ITC)
Delaware 3G
ITC
2013 6 28 ITC
337 337
2013 12 19 ITC
337 2015 2 18
ITC
2013 1 2 InterDigital Holdings,Inc. InterDigital, Inc.
(ITC) Delaware 3G 4G
InterDigital Holdings,Inc. ITC
2014 6 13 ITC
337 2014 8 15 ITC
50
二零二零年年度報告
337 InterDigital Holdings,Inc.
2015 6 InterDigital Holdings,Inc. 2014 10 28 Delaware
2015 4 22 Delaware
Delaware
2017 11
2020 1 InterDigital
Holdings,Inc.
3 2012 11 3,135.37 3,934.26
2013 2 7
2013 7
3,122.43 3,918.03
2016 1
3,122.43 3,918.03 2016 4
2016 8 29
2016 11
3,122.43 3,918.03
2017 2 2016 10
2012 11 30 15
8,297.45
1.04
4 2017 7 12 (LCIA)
LCIA No. 173683 LCIA No. 173696
— (DIFC-LCIA)
DIFC-LCIA No. 17098
3,180
2017 8 10 LCIA DIFC-LCIA
2,271.19
2018 5 DIFC-LCIA
3,745
DIFC-LCIA
51
2018 10 LCIA
3,188
LCIA
2019 5 LCIA LCIA No. 173696
2020 1 31 LCIA LCIA No. 173683 30,060,326
4,209,877 260,095.20
2020 7 23 DIFC-LCIA DIFC-LCIA No.17098
6,678,111.29 1,562,796.50
5 2018 10 31
(1) 2 (2)
20
2019 4 9
2020 12 28
2021 1 25
6 2020 8
1,230.7
1,230.7
2020 9
1,795.8
2020 10 1.88
2020 12 1,586.5
52
二零二零年年度報告
2021 1
7,254.8
2020 12 31 1 1.2548
1
2
2020
2021 3 16
1 24% 18.8219%
24%
14
12
331,528.7671
2020
2020 9 10 24%
2020 9 25
24% 2020 9 30
2020 10 20
18.8219%
2020 10 20 18.8219%
53
2
18.8219%
261,082.70 35 261,000.00
100%
5G
50%
2020 2020 10 28 (1) —
18.8219% (2) A 2020 11 16 (1)
— 18.8219% (2) A 2020 9 14
2020 12 3
2020 11 24
2020
12 1
2021 1 4
2021 1 4
2021 1 20
2021 2 26
2021 3 16
3
4
2020
9 25
2020
12 22
4 90%
2021 1
11 10.35
90%
2021
1 11 90%
54
二零二零年年度報告
2021 1 11
2021 2 25
2021 1 11
2021 2 24
(1) 2017
2017
2017
5%
2016 2017 A 2017 H
2017 2017
15,000
2017 2017
2017 7 6 17
39.88 2,013
1,996 15,000 14,960.12
2019 7 1 2017
2017 2017
2017
2017
2017 1,996 1,687
14,960.12 11,911.5591 1,996 1,684
4,986.6471 3,966.4153
7,021.0561 2019 7 1
55
2017 2017
2017
2019 7 5 7,021.0561
2019 7 5
2020 8 28
2017 66
2017 16.86 2020 8
28 2017
2020 9 2 66
2020 9 2
A
2017
2017
A 1%
12
1%
2017 2017 7 6 5 1 A
23.52 2 2
24 36 1/3
36 48 1/3
48 60 1/3
2019 7 1 2017
2017 2017
2019 7 1
2017
2017
56
二零二零年年度報告
2017 2019 7 16 2020 7 5
1,684 3,966.4153 2019 7 14
2017
2017 A 17.06
a. 2017 1 2017 4 24 A
b. 2017 120 A
2017 A 17.06
2017 A
2019 2017 16.86
2017
2017 7 7 2017
(2)
2017 4,806,061 17.06
A 33.65 A 4,806,061
2017
126,000 0 42,000 42,000 0 0 84,000 39.16
133,434 0 45,966 45,966 0 0 87,468 37.00
79,600 0 26,800 26,800 0 0 52,800 39.16
112,468 0 0 0 0 0 112,468
33,160 0 0 0 0 0 33,160
— 44,047,951 0 4,691,361 4,691,295 66 0 39,356,590 41.76
— 44,532,613 0 4,806,127 4,806,061 66 0 39,726,486 41.68
A
2017 A 3,972.6486
0.86% A 1.03%
2017 2017
57
(3)
(Binomial Tree) 2017 2017 7 6
2017 A 10.40 A 44.73%
A 17.06
A 23.25 A
3 4 5
A 43.35%
42.20% 42.90%
1
0.18
2
3.50% 3.51% 3.52%
A 10.40
1
2
3
11 —
40
2 2020
(1) 2020
2020
2020
5%
58
二零二零年年度報告
2020 2020
2020 16,349.20
15,849.20 500
2020 2020
2020 11 6 1
2020 1
2 6,124 6,123
16,349.20 16,347.20 15,849.20 15,847.20
500
A
2020 2020
A 16,347.20 A 15,847.20 A
500 A
2020
A 1%
12
1%
2020 2020 11 6 4 1
A 34.80 1 1
12 1/3
24
24 1/3
36
36 1/3
48
2020 A 34.47
a. 2020 1 2020 10 12 A
b. 2020 20 A
2020 A 34.47
59
2020
2020
2020 11 6 2020
(2)
2020 15,847.20
180,000 0 0 0 0 180,000
180,000 0 0 0 0 180,000
50,000 0 0 0 0 50,000
180,000 0 0 0 0 180,000
50,000 0 0 0 0 50,000
50,000 0 0 0 0 50,000
180,000 0 0 0 0 180,000
180,000 0 0 0 0 180,000
180,000 0 0 0 0 180,000
120,000 0 0 0 0 120,000
— 157,122,000 0 0 0 0 157,122,000
— 158,472,000 0 0 0 0 158,472,000
2020 2020
60
二零二零年年度報告
(3)
(Binomial Tree) 2020 2020 11 6
2020 A 9.12 A 25.47%
A 34.47
A 35.80 A
2 3 4
A 34.40%
33.57% 30.33%
1
0.20
2
2.78% 2.85% 2.91%
A 9.12
1
2
3
11 —
40
A
2019 A
A 1%
A
2020 8 14 A
A
1.00 1.20
12
2020 9 1 A A
2,973,900 0.06% 38.85
38.40 A 114,765,557.00
61
2020 8 14
A 2020 9 1 A
2020 114,765,557.00
2,973,900 A 0.06%
27
114,765,557.00 1.00 1 11,476.6
6,260.6 1,200
1,200 900 302.6
1,000 800 700
158 5,216.0
2020 12 16 —
2,973,900
2020 12 18 2021 12 17
2020 10 12
2020 10 20 2020 11 6 2020
2020 11 30
2020
12 17
40
A
A 2018 1 31 2018 2 1 2018 3 28 2018 4
10 2018 10 29 2018 11 19 2019 1 17 2019 1 23 2019 2 25 2019 3 20
2019 8 5 2019 8 7 2019 8 22 2019 10 21 2018 3 2
2019 2 28
2020 1 15 10
A 30.21 381,098,968
11,512,999,823.28 11,459,418,724.31 (1) 5G
(2) A 381,098,968
A 30.07 A
2020 1 15 H 27.05 A 36.92 A
62
二零二零年年度報告
2020 2 4 2020 1 16
A 2020 1 23 A 2020 2 2
A
2020 2 3 A
2020 2 4
2021 1 29 A 13,816.06
2021 2
9.(5)
1 2015
2014
90 90
90 2014
12 16
2015 1 27 2015 60
5+N 2020 1 27
2020 1 31 2020 1 31
6,348,600,000
2 2020
2017
80 80
80 2019 10
10
100
80 2020 3 26 2020 4 22
2020 5 26 2020 6 12 2020 6 28 2020 8 31
2020 12 21 10,090,598,630.12
3
2019
80 80
63
80 2020 7 21
1
(1)
2020
(%)
1–300,000 1–15,000 33,028.02 0.45% 2018–12–25 2018104
30% 30% 1,000–100,000
1,000–50,000
(FPC) 200–2,000
(R-FPC)
1.3–30,000
0.5–50,000
0.01–5,000
(FPC) (R-FPC) 0.5–100
970–1,800 6,746.97 0.09% 2020–1–17 202004
830–1,300 520–1,150
440–750
350–550 320–500
970–1,800 3,061.91 0.04% 2020–1–17 202004
830–1,300 520–1,150
440–750
350–550 320–500
398–1,322 — — 2018–12–25 2018104
401–805 485–851
451–793
418–774 418–
735 418–735
433–1,197
491–958
2,855.87 0.04% 2018–12–25 2018104
2020 80 7,339.03 0.10% 2020–1–17 202004
62
84
53
1,370,000
83,557.62 0.82% 2020–1–17 202004
— — 136,589.42 — — — — —
64
二零二零年年度報告
2018 12 25 2020
30%
8
2020 1 17 2020
8,619 5,230
2018 12 25 2019
11 1 2020 10 31
100
2018 12 25 2020
3,650
2020 1 17 2020
7,340
2020 1 17 2020 6 19
2019 2020
8 3,557.62
65
(2)
(3)
(4)
(5)
2020 12 21 2021
— 2021
110,000 2020 12 21
2
14A
14A
(1)
14A 2018 12 26
30%
(FPC) (R-FPC)
30%
2020
330,280.2
66
二零二零年年度報告
2018 12 25
2018 12 25 30%
2019 1 1 2021 12 31
30% 2019–2021
7 8 9
30%
30%
2018 12 26
30%
30%
2020
8
30%
30%
30%
67
(2)
2020 48
14A 14A.76 14A.95
14A 14A.92(3)
2020 1,022.5
14A.76
2020
0.7
158.6 14A.76
2020 30% 619.8
14A.76
14A
14A
68
二零二零年年度報告
1
2
2016 12 1 21,019,250 2017 4 1 21,019,250
1
201678
(A1) — (A2) —
(A3) 2,101.93 (A4) 2,101.93
2011 12 14 1,000 — SMS
2
201152 PATES
2013 9 13 4,000 2013 10 23 4,000
3
201362
2013 9 13 1,500 2013 9 11 1,500 2017 3 5
3
201362
2014 9 24 6,000 2014 11 27 112.70 UM
4
201440 UM
2016 1 8
201605
2014 9 24 200 2015 1 4 —
4
201440
2016 1 8
201605
2017 9 30 330 2017 12 28 315.25
5
201765 30
2018 3 16 6 2020 6 1 3 2020 6 1 (1)2023 6 1
6
201822 (2)
2020 8 13 5,000 2020 8 13 (1)2025 8 13
(2)
2018 10 15 4,000 2018 10 25 4,000
7
201890
2018 10 15 3,000 2019 4 26 3,000
7
201890 3 6
(B1) 130,408.00 8
(B2) 228,214.00
(B3) 646,222.15 8
(B4) 305,076.18
69
6,000.5 2015 3 13 6,000.5
9
6,000 2015 12 29 —
10
2
3,000 2017 1 26 820.18
11
TSMC
Netas Biliim Teknolojileri 215.33 2012 11 14 —
A.. 12
Netas Biliim
BDH Biliim Destek 1,075.38 2017 5 5 1,075.38 2017 5 5 BDH
Hizmetleri Sanayi ve
Ticaret A.. 12
NetaBiliim Teknolojileri 2020 5 6 0.93 2020 5 7 738.78
A. 13
202036
2020 12 22 0.9 — —
2020112
BDH Biliim Destek 2020 5 6 0.18 2020 8 4 88.85
Hizmetleri Sanayi ve 202036
Ticaret.A.. 13
2020 12 22 0.2 — —
2020112
NETA TELEKOMN 2020 5 6 0.28 2020 8 25 369.78
KASYON A.. 13
202036
2020 12 22 0.3 — —
2020112
NetaTelecom Limited 2020 12 22 0.1 — —
Liability Partnership 13
2020112
14
2019 3 19 1,000 2019 3 20 1,000
201916
2019 5 27 8,000 2019 6 4 8,000
15
201937
2020 4 24 10,000 2020 5 7 10,000
16
202032 2023 1 3
(C1) 198,439.56 (C2) 23,155.49
(C3) 249,031.57 (C4) 32,781.76
(A1+B1+C1) 328,847.56 (A2+B2+C2) 251,369.49
(A3+B3+C3) 897,355.65 (A4+B4+C4) 339,959.87
A4+B4+C4 7.85%
(D) 0
70% (E) 318,783.67
50% (F) 0
(D+E+F) 318,783.67
70
二零二零年年度報告
1
21,019,250
2017 4 1
2 2010 SMS
SMS PATES-NG PATES 1,000
PATES
3 2013
4,000 1,500
4 2,000 200
70% 2014 2016
2,000 4,000 6,000
200 6,000
112.70
5
330
30
315.25
6
6
2017 2020 6 8
3
2020 8 13 3 5,000
7 4,000
3,000 2017 2
8 2019 7 2
2019
2020
(B1) (B3) 2
9
6,000.5
10
6,000
2
11
TSMC 3,000
TSMC
820.18
71
12 2017 7 28 Neta Neta Neta Netas Biliim Teknolojileri A..
Netas Biliim BDH Biliim Destek Hizmetleri Sanayi ve Ticaret A.. BDH (1) Netas Biliim
215.33 Netas Biliim
Netas Biliim 0 (2) BDH
1,075.38 2017 5 5 BDH
13 Netas Neta
1.39 2020 12 31 Neta
BDH Neta Biliim 738.78 Neta Neta Biliim BDH 88.85 Neta Biliim
Neta 369.78
Netas Neta
1.5
2021 1 1 2021 12 31
14
1,000
2019 3 20
15
8,000 2019 6 4
2020 6
16
10,000 2020 5
7
17 2020 12 31 1 6.5204 1 8.0216
1 0.000462276
3
2021 PT. Telekomunikasi Selular Telkomsel
New Telkomsel Ultimate Radio Solution Rollout Agreement New Telkomsel Radio Ultimate Solution
Technical Support Agreement Telkomsel 2018
Telkomsel Ultimate Radio Network Infrastructure Rollout Agreement Ultimate Radio Network
Infrastructure Technical Support Agreement Telkomsel 4G New
Telkomsel Ultimate Radio Solution Rollout Agreement Ultimate Radio Network Infrastructure Rollout
Agreement New Telkomsel Radio Ultimate Solution Technical Support Agreement
Ultimate Radio Network Infrastructure Technical Support Agreement
4,000
4,000 3 6
2021
2 18 2021
2 18
72
二零二零年年度報告
Telkomsel 2018 10 15
4
2021 3 16
5
9
6
√
1
(1)
a. 2004 11 19
b. 2018 1 31 2018 A
c. 2019 8 7 A
A
A 36
(2)
2007 12 10
5%
73
2 2018 A
2018 1 31 2018 A
3
(1)
1
2
3
4
5
74
二零二零年年度報告
1
2
3
1
2
1
2
75
3
4
5
6
7
1
2
3
76
二零二零年年度報告
(2)
1
12
36
12
12
2
3
4
5
6
(3)
1
2
3
4
5
77
(4)
1
2
3
4
(5)
1
2
3
4
5
6
(6)
2020 6 22
12
78
二零二零年年度報告
4
√
√
√
√
2020 12 28.43% 2020 12
2020 3
5.1% 2020 3
2020 12 100% 2020 12
1
2
A 2020
5,000
79
2020
√
5%
√
√
1
(1)
100 (2)
(3)
80
二零二零年年度報告
— —
1. 1,044
2. —
3. —
— —
1. — —
1.1 —
1.2 7
1.3 360
1.4 500
2. — —
2.1 335
2.2 996
3. — —
3.1 —
4. — —
4.1 —
5. — —
5.1. 18
5.2. 349
— —
2021
2
√
2021 3 16
81
2019 12 31 – 2020 12 31
493,522 0.01% +381,185,042 — — — +381,185,042 381,678,564 8.27%
1 — — — — — — — — —
2 — — +43,032,108 — — — +43,032,108 43,032,108 0.93%
3 — — +338,066,860 — — — +338,066,860 338,066,860 7.33%
— — +338,066,860 — — — +338,066,860 338,066,860 7.33%
— — — — — — — — —
4 — — — — — — — — —
— — — — — — — — —
— — — — — — — — —
5 493,522 0.01% +86,074 — — — +86,074 579,596 0.01%
4,227,036,347 99.99% +4,719,987 — — — +4,719,987 4,231,756,334 91.73%
1 3,471,533,813 82.12% +4,719,987 — — — +4,719,987 3,476,253,800 75.35%
2 — — — — — — — — —
3 H 755,502,534 17.87% — — — — — 755,502,534 16.38%
4 — — — — — — — — —
4,227,529,869 100.00% +385,905,029 — — — +385,905,029 4,613,434,898 100.00%
A 381,098,968 2017 4,806,061 A
A 385,905,029
2019 2020
12 31 A A A 12 31 A
1 — — 43,032,108 43,032,108
2 — — 43,032,108 43,032,108
3 — — 43,032,108 43,032,108
— 2
4 — — 43,032,108 43,032,108 2021
— 2 4 1
5 — — 43,032,108 43,032,108
—
6 — — 42,204,567 42,204,567
7 — — 18,205,892 18,205,892
8 — — 7,447,864 7,447,864
9 — — 6,620,324 6,620,324
10 — — 6,620,324 6,620,324
11 — — 84,839,457 84,839,457
12 493,522 — 86,074 579,596 2 —
— 493,522 — 381,185,042 381,678,564 — —
82
二零二零年年度報告
1 A 2020 2 4 2020 2 4 12
A 2021 2 4 2021 2 2
A
2 2017 A
75%
1 2017 7 6 1,996 14,960.12 A A
2017 7 20 037050 JLC2
2017
4,806,061 A 4,806,061
2 2020 1 15 10 A 30.21
381,098,968 11,512,999,823.28
11,459,418,724.31 A 2020 2 4
3 2020 11 6 6,123 15,847.20 A A
2020 11 30 037099 JLC3
4
83
1
2020 12 31 596,189 A 595,874 H 315
2021 2 28 606,664 A 606,351 H 313
5% 10
1 22.44% 1,033,442,200 A –113,369,400 — 2
2,038,000 1
H —
2 16.30% 752,209,308 H –102,078 —
3
3 1.22% 56,082,897 A –11,785,409 —
4
4 1.14% 52,519,600 A — —
5 1.10% 50,644,553 A 34,324,915 42,204,567
6 0.93% 43,032,108 A 43,032,108 43,032,108
7 0.93% 43,032,108 A 43,032,108 43,032,108
8 0.93% 43,032,108 A 43,032,108 43,032,108
—
2
9 0.93% 43,032,108 A 43,032,108 43,032,108
—
10 0.93% 43,032,108 A 43,032,108 43,032,108
—
84
二零二零年年度報告
10
1 1,033,442,200 A
2,038,000 H
2 752,209,308 H
3 56,082,897 A
4 52,519,600 A
5 41,516,065 A
6 — 5G 37,908,924 A
7 — 21,306,863 A
8 19,073,940 A
9 — 11,876,071 A
10 — — — 005L-FH002 11,789,965 A
1.
2.
10
1 2,038,000 H
2 2018 12 20 98,667,983 A 2020 3 25
2020 7 14 2020 3 26
2020 7 15
3 H
2,038,000 H
4 A
5
6 5% — 1,035,480,200 22.44%
–113,369,400 1,033,442,200 A 0 1,033,442,200
0 2,038,000 H 0 2,038,000
2020 4 2 2020 4 7 48,913,100 A 2020 6 22
20,366,800 A 2020 7 1 44,089,500 A
1,035,480,200 22.44% 2021 1 25
27,601,800 A 1,007,878,400 21.85%
85
10 10
√
2
1993 4 29
91440300192224518G
10,000
2020 12 30
688063
3
2017 4
2.5%
34% 14.5% 49% 2.5% 9 3 2
4 33.33% 22.22% 44.45%
1965
19,853 12100000H0420141X7
1989 8 17
1,795 91440300192175031U
86
二零二零年年度報告
1992 10 23 1,000
9144030027941498XF
2016 12 2
5 91440400MA4W1GHE5H
2020 12 31
34% 14.5% 49% 2.5%
22.44%
1,007,878,400 21.85%
4 10%
5
87
6
2020 12 31 336
5%
(%)
1,033,442,200 A (L) 22.40%(L) 26.79%(L)
1,033,442,200 A (L) 22.40%(L) 26.79%(L)
1,033,442,200 A (L) 22.40%(L) 26.79%(L)
1,033,442,200 A (L) 22.40%(L) 26.79%(L)
1,033,442,200 A (L) 22.40%(L) 26.79%(L)
BlackRock, Inc. 41,277,025 H (L) 0.89%(L) 5.46%(L)
8,080,680 H (S) 0.18%(S) 1.07%(S)
Capital Research and 38,410,000 H (L) 0.83%(L) 5.08%(L)
Management Company
(L) — (S) — (P) —
2020 12 31 4,613,434,898 A 3,857,932,364 H 755,502,534
2020 12 31
336
7
A
8
88
二零二零年年度報告
1
1964 1987
1987
1987 2010 2010 2014
2014 2015
2015 2019 1 2018 6
1972 1994
1998 1998 2011 GSM
PS 2011 2013 MKT
2014 2016 2016 2018 7
CCN 2018 7 2018 8
1972 1994
1994 2001 2001 2009
2009 2012 2011
2017 2015
2016 2018
6
1967 1989
2002
1989 2003 211 2003 2009
2009 2019 1
2017 2019
1 2018 6
2018 7
1966 1988
2003 1988 1991
1991 1993
1993 1997 1997 2000
2002 2003 2004 2013 2009
2015 2012 2008
2013 2018 2018
2018 6
1964 1987
1987 1995 1995 1997
1997 2009 1998 2009 2009
2018 6
89
1973 1998
2006
2002 2015
2015
2016
2018 11 2019 2
2019 6
2020 6 2020 12
2018 6
1964 1987 1988
2013 7
Dentons
2018 6
1965 1988 1991
2016 1
2020 6
2
1976
2003 2003 2019 3
2019 4 2019
7 2019 11
3
1963 1986
1994
1998 2004 CDMA CDMA 2004 2012
2013 3
1975 1998 7
1998 2016
3
1961 1989 1981
8 1989 10 691 1989 11 1993 9 1993 10
1997 10 1997 11
90
二零二零年年度報告
2018 5
2017 11 2018 5
1975 2001
2001 7 2002 9
2002 9 2011 3 2011 3 2017 5
2017 5 2020 6
2020 6
2019 3
1974 2000 6 2000 7
2009 2 2006 7 2009 2
2011 12 2019 3
4
1974 1995
1998
1998 1998 2007 CDMA
2008 2016
2016 2018 7 CTO 2018 7
1978 1999
2002 2002
2002 2018 1
2018 1 2018 7 2018 7
1975 1998 2001
2001 2001 2018
2001 2012
MKT 2013 2014 2018 7
MKT 2018 7 2019 9 2019 9
91
A A A A
1 1 2
1 56 3/2019 3/2022 — — — — — 850.1
2 48 3/2019 3/2022 42,000 42,000 — 84,000 4
1,118.3
4/2019 3/2022
3 48 3/2019 3/2022 — — — — — 10.0
4 53 3/2019 3/2022 — — — — — 755.7
4/2019 3/2022
5 55 3/2019 3/2022 — — — — — 10.0
6 56 3/2019 3/2022 — — — — — 10.0
7 47 3/2019 3/2022 — — — — — 25.0
8 56 3/2019 3/2022 — — — — — 25.0
9 3
55 6/2020 3/2022 — — — — — 13.2
10 Yuming Bao 3
48 3/2019 6/2020 — — — — — 11.8
11 57 3/2019 3/2022 495,803 — — 495,803 — 599.2
12 45 3/2019 3/2022 50,927 — — 50,927 — 136.4
13 59 3/2019 3/2022 — — — — — 167.5
14 45 3/2019 3/2022 — — — — — —
15 46 3/2019 3/2022 — — — — — —
16 46 4/2019 3/2022 41,500 45,966 18,900 68,566 4
973.0
17 42 4/2019 3/2022 27,800 26,800 — 54,600 4
780.1
18 45 9/2019 3/2022 — — — — — 768.5
19 44 7/2019 3/2022 — — — — — 267.9
— — — — — — — 658,030 114,766 18,900 753,896 — 6,521.7 —
1
2 10.1.3
3 Yuming Bao 2020 4 10 2019
2020 6 19 2019 2020 6 19
2022 3 29
4 A
5 H
6 2020 A 20,000
7
92
二零二零年年度報告
A
1 1
2018 8 2021 8
2018 8 2021 8
2018 8 2021 8
1
1
6
2
11
3
93
4
5
6
15
7
1 2020 6 2020 9
2 2020 1 2020 3
3 2020 1 2020 10
2020 6 2020 12
4 2020 1
5 2020 1 2020 6
2020 6
6 2020 4 2020 5
2020 9 2020 11
2020 12
7 2020 3 2020 6 2020
9 8 2020 10
2020 11 2020 12 2020 9
8 2020 9
9 2020 5
94
二零二零年年度報告
Yuming Bao 2020 4 10
Yuming Bao
Yuming Bao
2020 4 13
2020 6 19 2019
2022 3 29
2020 6 19 2019
73,709 65,898 33.16
173 142
1
31,747 43.1%
9,030 12.3%
8,953 12.1%
18,143 24.6%
1,198 1.6%
4,638 6.3%
73,709 100%
95
2
395 0.5%
25,791 35.0%
25,626 34.8%
21,897 29.7%
73,709 100%
3
PC
96
二零二零年年度報告
97
2020 6 19 2019 2020
6 19
2020 9 30 2020
2020 9 30
2020 11 6 2020
2020 11 6
2020 12 21 2020
2020 12 21
A 2017 2020
98
二零二零年年度報告
17 11 6 0 0 4 4
17 11 6 0 0 4 2
11 7 4 0 0 3 2
Yuming Bao
6 2 2 2 0 1 0
1
2
1
(1) 2020
2020
2020 2020
2020
2020
99
(2)
(3) 2020
2020 9 2021 3
7
2020 9 2021 3
2020
(4)
2
3
4
100
二零二零年年度報告
1
101
2
2020
1
2
3
4
5
6
3 2020
2020 12 31
92.73%
99.26%
2021 3 16 2020
102
二零二零年年度報告
4
2020 12 31
2021 3 16
2020 12 31
2020
4
2020
103
2020 12 31
3.10(1) (2) 3.10A
3.13
2020 6 19 2022 3 29
2019 3 30 2022 3 29
104
二零二零年年度報告
1 2020 17 2020
4
17 4
17 0 17/17 4 4/4
17 0 17/17 4 4/4
17 0 17/17 4 4/4
17 0 17/17 4 4/4
17 0 17/17 4 4/4
17 0 17/17 3 3/4
17 0 17/17 4 4/4
17 0 17/17 2 2/4
1
11 0 11/11 2 2 2/3 2
Yuming Bao
1
4 2 4/6 2
0 0/1 2
1
2
2 14 3
2020 4 15 2020 4 24
2020
3
3
4
105
1
2 2020
√ —
√ —
√ —
√ √
√ —
√ —
√ √
√ —
√ √
3
106
二零二零年年度報告
4 2019 3 20 2019
2020 9 25
1
2
2020 4
4/4 0/4
4/4 0/4
4/4 0/4
4/4 0/4
2/2 0/2
Yuming Bao 1/2 1/2
3
B.1.2(c)(ii)
107
4
2020 4 2019 2020
2020 2020
1
2
2020 1
1/1 0/1
1/1 0/1
1/1 0/1
1/1 0/1
0/0 0/0
Yuming Bao 0/1 1/1
3
(1)
(2)
108
二零二零年年度報告
(3)
4
2020 1
1
2
3.21
2020 7
7/7 0/7
6/7 1/7
6/7 1/7
7/7 0/7
3/3 0/3
Yuming Bao 3/4 1/4
3
2020 7
109
2020
1
2
2020 4
3/3 0/3
4/4 0/4
4/4 0/4
4/4 0/4
4/4 0/4
Yuming Bao 1/1 0/1
3
2020 4
1
2
3
4
5
110
二零二零年年度報告
2020 9
1
2
2020
3
2020 12 31
2020 12 31
XV
352
2020 12 31 18
4
2020
10
37
111
2005 2004
2020 810
2020 2020 120
2020 54.60
112.47
2020 A 110
8.04
2020 810
2020 120
2020 54.60
2020 112.47
2020 A 110
2020 8.04
2020 15
2020 12 31
272–277
112
二零二零年年度報告
2020 12 31
2020
113
(2021) 60438556_H01
2020 12 31 2020
2020 12 31 2020
114
二零二零年年度報告
(2021) 60438556_H01
2020
63,970,456 63%
67,612,135
72%
24
32 40
8
24
115
(2021) 60438556_H01
2020
12 31 27,497,009
18%
31,398,185 21%
22 —
2017
9
32
4A 9
8
116
二零二零年年度報告
(2021) 60438556_H01
2020 12 31
33,689,306 22%
18,444,527
12%
10
32 7
117
(2021) 60438556_H01
(1)
(2)
(3)
118
二零二零年年度報告
(2021) 60438556_H01
(4)
(5)
(6)
2021 3 16
119
2020 12 31
2020 12 31 2019 12 31
1 35,659,832 33,309,347
2 1,036,906 560,662
3 36,118 106,065
4A 15,891,020 19,778,280
4B 1,970,624 2,430,389
4A 199,872 308,710
5 321,792 402,525
6 1,152,479 1,023,271
7 33,689,306 27,688,508
8 8,926,411 9,537,850
20 8,092,915 7,421,567
106,977,275 102,567,174
9 2,679,578 2,819,606
9 347,920 200,671
10 1,713,803 2,327,288
11 1,536,741 1,594,254
12 2,035,234 1,957,242
13 11,913,942 9,383,488
14 1,039,900 1,171,716
15 1,047,210 1,063,781
16 9,367,282 7,718,820
17 2,072,857 1,876,409
18 186,206 186,206
19 3,437,101 2,511,372
20 6,279,857 5,824,108
43,657,631 38,634,961
150,634,906 141,202,135
120
二零二零年年度報告
2020 12 31
2020 12 31 2019 12 31
21 10,559,160 26,645,966
4A 201,484 310,024
22 153,961 126,223
23A 11,364,056 9,372,940
23B 17,151,733 18,355,610
24 14,998,172 14,517,057
25 10,545,495 8,954,005
26 878,201 888,848
27 4,352,802 4,621,118
28 2,085,234 1,966,464
29 2,104,677 612,261
74,394,975 86,370,516
30 22,614,304 10,045,093
9 353,446 200,858
31 718,186 645,294
25 144,250 144,505
2,228,313 2,656,024
19 134,317 172,060
32 3,924,609 3,013,487
30,117,425 16,877,321
104,512,400 103,247,837
121
2020 12 31
2020 12 31 2019 12 31
33 4,613,435 4,227,530
34 23,275,810 12,144,432
35 114,766 —
36 (2,270,622) (2,000,980)
37 2,968,473 2,775,521
38 14,824,478 11,680,365
43,296,808 28,826,868
39 — 6,252,364
2,825,698 2,875,066
46,122,506 37,954,298
150,634,906 141,202,135
122
二零二零年年度報告
2020 12 31
2020 2019
40 101,450,670 90,736,582
40 69,379,215 57,008,377
41 684,617 930,511
42 7,578,837 7,868,722
43 4,994,996 4,772,823
44 14,797,025 12,547,898
45 420,537 965,955
1,495,660 1,718,187
1,238,753 931,929
46 1,572,666 1,695,878
47 906,406 249,445
(420,515) (675,616)
(187,525) (209,387)
48 39,023 (213,992)
49 (433,103) (1,933,779)
50 (209,715) (1,575,702)
51 — 2,688,036
5,470,720 7,552,182
52 237,759 183,700
52 644,313 574,212
5,064,166 7,161,670
54 342,474 1,385,001
4,721,692 5,776,669
4,721,692 5,776,669
4,259,752 5,147,877
16,236 348,600
445,704 280,192
(295,330) 49,441
36 (269,642) 46,581
— —
350 (7,599)
350 (7,599)
(269,992) 54,180
(269,992) 54,180
(25,688) 2,860
4,426,362 5,826,110
3,990,110 5,194,458
16,236 348,600
420,016 283,052
55 0.92 1.22
55 0.92 1.22
123
2020 12 31
2020
4,227,530 12,144,432 — (2,000,980) 2,775,521 11,680,365 28,826,868 6,252,364 2,875,066 37,954,298
— — — (269,642) — 4,259,752 3,990,110 16,236 420,016 4,426,362
1. 385,905 11,206,155 — — — — 11,592,060 — 437,145 12,029,205
2. — 188,797 — — — — 188,797 — — 188,797
3. — — — — — — — — (384,274) (384,274)
4. — (458,009) — — — — (458,009) — (288,333) (746,342)
5. — (80,000) — — — — (80,000) (5,920,000) — (6,000,000)
6. — 274,435 (114,766) — — — 159,669 — — 159,669
1. — — — — 192,952 (192,952) — — — —
2. — — — — — (922,687) (922,687) (348,600) (233,922) (1,505,209)
4,613,435 23,275,810 (114,766) (2,270,622) 2,968,473 14,824,478 43,296,808 — 2,825,698 46,122,506
2019
4,192,672 11,444,456 (2,047,561) 2,324,748 6,983,261 22,897,576 6,252,364 3,810,735 32,960,675
— — — (1,441) 1,441 — — — —
4,192,672 11,444,456 (2,047,561) 2,323,307 6,984,702 22,897,576 6,252,364 3,810,735 32,960,675
— — 46,581 — 5,147,877 5,194,458 348,600 283,052 5,826,110
1. 34,858 943,559 — — — 978,417 — 112,167 1,090,584
2. — (148,435) — — — (148,435) — — (148,435)
3. — — — — — — (820,451) (820,451)
4. (95,148) — — — (95,148) — (29,856) (125,004)
1. — — — 452,214 (452,214) — — — —
2. — — — — — — (348,600) (480,581) (829,181)
4,227,530 12,144,432 (2,000,980) 2,775,521 11,680,365 28,826,868 6,252,364 2,875,066 37,954,298
124
二零二零年年度報告
2020 12 31
2020 2019
114,716,078 95,558,437
3,985,133 4,408,771
6,771,002 5,372,061
125,472,213 105,339,269
79,466,978 63,769,922
18,795,464 15,605,420
6,599,758 7,821,369
10,377,362 10,696,004
115,239,562 97,892,715
57 10,232,651 7,446,554
6,509,874 1,956,504
273,809 210,091
9,398 1,883,702
251,702 447,907
56 — 65,000
7,044,783 4,563,204
6,471,652 6,550,620
7,363,565 1,835,699
56 34,009 2,200,000
257,671 —
14,126,897 10,586,319
(7,082,114) (6,023,115)
14,166,524 590,720
2,612,000 4,570
48,160,989 45,320,925
56 6,540 26,280
62,334,053 45,937,925
49,454,964 36,301,498
6,000,000 —
2,950,970 2,640,253
259,200 480,581
56 4,218,024 1,274,456
62,623,958 40,216,207
(289,905) 5,721,718
36,624 226,532
2,897,256 7,371,689
28,505,800 21,134,111
57 31,403,056 28,505,800
125
2020 12 31
2020 12 31 2019 12 31
23,398,960 13,001,412
35,995 103,889
1 19,779,132 24,893,537
1,864,477 1,980,798
1 178,443 230,035
11,779 7,559
2 40,271,860 32,126,268
18,444,527 19,692,914
5,180,041 4,460,977
3,490,828 3,516,370
112,656,042 100,013,759
3 6,439,012 7,736,877
3 305,062 200,671
4 13,475,272 12,270,582
706,117 725,125
1,600,000 1,562,380
6,056,830 5,717,601
365,523 154,636
372,162 534,988
3,156,323 3,064,383
314,854 479,320
2,244,139 1,063,838
4,983,901 4,749,554
40,019,195 38,259,955
152,675,237 138,273,714
126
二零二零年年度報告
2020 12 31
2020 12 31 2019 12 31
7,590,608 11,729,902
180,055 230,323
140,982 115,811
12,884,302 19,363,815
44,970,734 29,734,983
10,202,939 9,347,162
5,782,275 5,223,312
131,279 97,735
13,871,716 21,362,474
1,568,818 1,786,167
747,843 309,489
98,071,551 99,301,173
16,931,479 7,550,990
310,588 200,858
218,235 337,764
144,250 144,505
293,675 849,320
1,798,324 2,393,468
19,696,551 11,476,905
117,768,102 110,778,078
4,613,435 4,227,530
21,583,815 9,996,674
114,766 —
701,136 696,467
2,306,717 2,113,765
5,816,798 4,208,836
34,907,135 21,243,272
— 6,252,364
34,907,135 27,495,636
152,675,237 138,273,714
127
2020 12 31
2020 2019
5 94,147,280 80,177,614
5 81,047,285 65,054,578
194,958 446,433
4,578,571 4,498,782
4,099,577 3,917,938
3,371,221 3,267,566
885,257 476,385
1,070,039 994,596
737,628 482,275
349,010 236,919
6 2,065,939 7,751,031
6 (408,440) (159,135)
(65,131) (95,861)
(41,334) (41,547)
65,556 (2,464,932)
139,396 (1,691,201)
— 2,662,740
2,548,978 8,968,942
96,955 109,566
543,741 430,876
2,102,192 8,647,632
(637,645) 523,153
2,739,837 8,124,479
2,739,837 8,124,479
2,723,601 7,775,879
16,236 348,600
4,669 (8,219)
— —
350 (7,599)
4,319 (620)
2,744,506 8,116,260
2,728,270 7,767,660
16,236 348,600
128
二零二零年年度報告
2020 12 31
2020
4,227,530 9,996,674 — 696,467 2,113,765 4,208,836 21,243,272 6,252,364 27,495,636
— — — 4,669 — 2,723,601 2,728,270 16,236 2,744,506
1. 385,905 11,203,909 — — — — 11,589,814 — 11,589,814
2.
— 188,797 — — — — 188,797 — 188,797
3. — (80,000) — — — — (80,000) (5,920,000) (6,000,000)
4. — 274,435 (114,766) — — — 159,669 — 159,669
1. — — — — 192,952 (192,952) — — —
2. — — — — — (922,687) (922,687) (348,600) (1,271,287)
4,613,435 21,583,815 (114,766) 701,136 2,306,717 5,816,798 34,907,135 — 34,907,135
2019
4,192,672 9,244,984 704,686 1,662,992 (3,101,864) 12,703,470 6,252,364 18,955,834
— — — (1,441) (12,965) (14,406) — (14,406)
4,192,672 9,244,984 704,686 1,661,551 (3,114,829) 12,689,064 6,252,364 18,941,428
— — (8,219) — 7,775,879 7,767,660 348,600 8,116,260
1. 34,858 900,125 — — — 934,983 — 934,983
2. — (148,435) — — — (148,435) — (148,435)
1. — — — 452,214 (452,214) — — —
2. — — — — — — (348,600) (348,600)
4,227,530 9,996,674 696,467 2,113,765 4,208,836 21,243,272 6,252,364 27,495,636
129
2020 12 31
2020 2019
106,663,870 87,512,224
2,360,236 3,059,581
1,591,760 1,678,287
110,615,866 92,250,092
94,158,730 80,621,791
5,930,104 4,587,041
1,410,785 2,690,912
5,852,676 6,890,651
107,352,295 94,790,395
3,263,571 (2,540,303)
3,028,230 750,421
4,332,809 4,152,616
6,749 1,869,598
— —
6,385,000 65,000
13,752,788 6,837,635
2,574,830 3,903,286
5,583,800 1,390,605
7,590,000 2,200,000
15,748,630 7,493,891
(1,995,842) (656,256)
11,554,524 586,150
37,216,367 25,305,218
48,770,891 25,891,368
31,024,267 21,438,566
6,000,000 —
2,354,201 1,329,965
305,692 243,716
39,684,160 23,012,247
9,086,731 2,879,121
(289,710) 202,184
10,064,750 (115,254)
10,032,692 10,147,946
20,097,442 10,032,692
130
二零二零年年度報告
2020 12 31
1997 10 6 1997 11 18
2021 3 16
—
1.
2020 12 31
2020
2.
1 1 12 31
131
2020 12 31
3.
4.
132
二零二零年年度報告
2020 12 31
5.
6.
7.
133
2020 12 31
8.
9.
(1)
(2)
(a) (b)
134
二零二零年年度報告
2020 12 31
9.
135
2020 12 31
9.
12
3
136
二零二零年年度報告
2020 12 31
9.
10.
137
2020 12 31
11.
7 —
12 —
138
二零二零年年度報告
2020 12 31
11.
12.
13.
—
30–50 5% 1.90%–3.17%
5–10 5% 9.5%–19%
5–10 5% 9.5%–19%
5–10 5% 9.5%–19%
5 5% 19%
14.
139
2020 12 31
15.
(1)
(2)
(3)
(1)
(2)
3
16.
20
140
二零二零年年度報告
2020 12 31
17.
2–5
2–10
30–70
2–10
3–5
141
2020 12 31
18.
142
二零二零年年度報告
2020 12 31
19.
143
2020 12 31
20.
21.
(1)
(2)
(3)
22.
144
二零二零年年度報告
2020 12 31
23.
24.
145
2020 12 31
24.
21
146
二零二零年年度報告
2020 12 31
24.
(1)
(2) (1)
(3) (1)
25.
9
147
2020 12 31
26.
(1)
(2)
(3)
(1)
(2)
(1) (2)
27.
148
二零二零年年度報告
2020 12 31
28.
(1)
(2)
(1)
(2)
149
2020 12 31
29.
150
二零二零年年度報告
2020 12 31
29.
(1)
(2)
(1)
(2)
12
30,000
151
2020 12 31
29.
(1)
(2)
(1)
(2) 20
30.
152
二零二零年年度報告
2020 12 31
31.
32.
(1)
(2)
(3)
153
2020 12 31
32.
154
二零二零年年度報告
2020 12 31
32.
—
—
—
1–5
155
2020 12 31
32.
156
二零二零年年度報告
2020 12 31
32.
157
2020 12 31
32.
2020 12 31 2,035,234 2019 12 31 1,957,242
EV/EBIT
P/B P/E
3
158
二零二零年年度報告
2020 12 31
1.
— 13%
5% 6% 9%
—
—
—
—
— 2008 1 1
2.
2020–2022 15%
2020 10%
2019 –2021
15%
2020 10%
2020 10%
2020 10%
2020 15%
2020 10%
159
2020 12 31
2.
2018–2020 15%
2020 12.5%
2020–2022 15%
2020 12.5%
2019–2021 15%
2020 10%
2020 –2022 15%
2020 –2022 15%
1.
2020 12 31 2019 12 31
1,655 2,269
33,974,444 29,963,567
1,683,733 3,343,511
35,659,832 33,309,347
2020 12 31 3,674,558 2019 12 31
3,902,219 60,697 2019 12 31
20,962
7 3
2,573,043 2019 12 31 1,460,036
160
二零二零年年度報告
2020 12 31
2.
2020 12 31 2019 12 31
507,821 523,227
529,085 37,435
1,036,906 560,662
3.
2020 12 31 2019 12 31
36,118 106,065
A—
100,230 2019
162,150
4A.
0–90
1
2020 12 31 2019 12 31
(%) (%) (%) (%)
4,002,648 16 4,002,648 100 7,001,590 21 7,001,590 100
21,442,801 84 5,551,781 26 25,876,940 79 6,098,660 24
25,445,449 100 9,554,429 38 32,878,530 100 13,100,250 40
2020 12 31
1* 437,501 437,501 100%
2* 275,245 275,245 100%
3* 242,243 242,243 100%
4* 234,235 234,235 100%
5* 126,316 126,316 100%
6 40 * 2,687,108 2,687,108 100%
4,002,648 4,002,648 100%
*
161
2020 12 31
4A.
2019 12 31
1* 597,986 597,986 100%
2* 578,775 578,775 100%
3* 563,352 563,352 100%
4* 428,987 428,987 100%
5* 426,086 426,086 100%
6* 299,436 299,436 100%
7* 285,746 285,746 100%
8* 280,176 280,176 100%
9* 226,802 226,802 100%
10* 155,666 155,666 100%
11* 140,761 140,761 100%
12* 121,161 121,161 100%
13 48 * 2,896,656 2,896,656 100%
7,001,590 7,001,590 100%
*
2020 12 31 2019 12 31
(%) (%)
0–6 13,794,187 2 334,348 16,601,910 4 582,539
6–12 1,359,046 19 252,669 2,581,096 10 249,165
1 2 1,798,892 34 606,115 1,637,217 36 581,713
2 3 917,238 86 785,211 1,653,697 78 1,282,223
3 3,573,438 100 3,573,438 3,403,020 100 3,403,020
21,442,801 5,551,781 25,876,940 6,098,660
2020 127,620 2019
67,171 2,627,392
2019 1,113,515 13 2019 4
162
二零二零年年度報告
2020 12 31
4A.
2020
13,100,538 182,221 (3,366,645) (360,780) 9,555,334
13,100,250 181,604 (3,366,645) (360,780) 9,554,429
288 617 — — 905
2019
12,384,836 1,777,598 (1,359,859) 297,963 13,100,538
12,381,983 1,780,163 (1,359,859) 297,963 13,100,250
2,853 (2,565) — — 288
2020 12 31
1 2,232,144 8.77% 26,232
2 1,408,616 5.54% 565,335
3 1,178,784 4.63% 23,841
4 711,336 2.80% 21,340
5 497,233 1.95% 13,352
6,028,113 23.69% 650,100
2019 12 31
1 2,690,494 8.18% 45,795
2 2,128,766 6.47% 37,671
3 1,885,589 5.74% 497,930
4 1,158,592 3.52% 28,178
5 727,206 2.21% 29,397
8,590,647 26.12% 638,971
7,183,099 2019 7,501,234 187,525 2019
209,387
2
163
2020 12 31
4B.
2020 12 31 2019 12 31
1,465,791 1,749,294
504,833 681,095
1,970,624 2,430,389
2020 12 31 2019 12 31
1,614,429 — 1,125,088 16,986
1,369,471 — 884,550 62,830
2,983,900 — 2,009,638 79,816
2020 1,936 (497) — 1,439
2019 2,455 (519) — 1,936
5.
2020 12 31 2019 12 31
1 321,792 100% 402,525 100%
2020 12 31
1 19,934 6.19%
2 17,005 5.28%
3 15,280 4.75%
4 10,000 3.11%
5 9,284 2.89%
71,503 22.22%
164
二零二零年年度報告
2020 12 31
5.
2019 12 31
1 25,526 6.34%
2 23,147 5.75%
3 13,966 3.47%
4 13,439 3.34%
5 12,433 3.09%
88,511 21.99%
6.
2020 12 31 2019 12 31
64,353 890
— 3,081
1,088,126 1,019,300
1,152,479 1,023,271
2020 12 31 2019 12 31
64,353 890
2020 12 31 2019 12 31
— 3,081
2020 12 31 2019 12 31
1 712,800 664,605
1 2 400,421 417,771
2 3 85,802 72,726
3 91,289 104,335
1,290,312 1,259,437
(202,186) (240,137)
1,088,126 1,019,300
165
2020 12 31
6.
2020 12 31 2019 12 31
296,171 192,992
791,955 826,308
1,088,126 1,019,300
2020 12 31
1 125,000 9.68% — —
2 56,646 4.39% (56,646) 100%
3 42,615 3.30% (42,615) 100%
4 36,000 2.79% — —
5 32,729 2.54% — —
292,990 22.70% (99,261)
2019 12 31
1 110,910 8.81% (110,910) 100%
2 56,834 4.51% (56,834) 100%
3 45,638 3.62% (45,638) 100%
4 33,715 2.68% — —
5 25,768 2.05% — —
272,865 21.67% (213,382)
0–36
994,141 12
12
827 — 239,310 240,137
— — 120,577 120,577
(34) — (189) (223)
— — (149,725) (149,725)
— — (8,580) (8,580)
2020 12 31 793 — 201,393 202,186
166
二零二零年年度報告
2020 12 31
7.
2020 12 31 2019 12 31
13,630,144 789,099 12,841,045 6,092,323 805,258 5,287,065
5,373 131 5,242 13,479 131 13,348
1,381,110 22,218 1,358,892 1,201,247 13,012 1,188,235
2,935,688 548,437 2,387,251 3,101,870 529,099 2,572,771
11,859,666 1,838,061 10,021,605 12,600,255 1,878,026 10,722,229
8,173,003 1,097,732 7,075,271 8,943,882 1,039,022 7,904,860
37,984,984 4,295,678 33,689,306 31,953,056 4,264,548 27,688,508
2020
805,258 25,939 (84,372) 42,274 789,099
131 — — — 131
13,012 5,154 (7,714) 11,766 22,218
529,099 50,182 (33,385) 2,541 548,437
2,917,048 31,152 (8,751) (3,656) 2,935,793
4,264,548 112,427 (134,222) 52,925 4,295,678
2019
1,151,577 (343,887) (2,432) — 805,258
131 — — — 131
31,703 (17,891) (674) (126) 13,012
767,829 (88,623) (107,968) (42,139) 529,099
1,248,032 1,711,266 (46,328) 4,078 2,917,048
3,199,272 1,260,865 (157,402) (38,187) 4,264,548
167
2020 12 31
8.
2020 12 31 2019 12 31
9,237,256 (310,845) 8,926,411 9,987,937 (450,087) 9,537,850
2020 450,087 70,300 (199,825) (9,717) 310,845
2019 152,485 294,632 — 2,970 450,087
2020 12 31 2019 12 31
(%) (%)
166,906 100.00 166,906 320,832 100.00 320,832
9,070,350 1.59 143,939 9,667,105 1.34 129,255
9,237,256 3.37 310,845 9,987,937 4.51 450,087
168
二零二零年年度報告
2020 12 31
9.
2020 12 31 2019 12 31
2,871,490 2,887,559
191,912 67,953
2,679,578 2,819,606
4.50%–7.81%
2.35%
2020
68,140 131,026 — (1,728) 197,438
67,953 125,687 — (1,728) 191,912
187 5,339 — — 5,526
2019
32,393 35,557 — 190 68,140
30,297 37,466 — 190 67,953
2,096 (1,909) — — 187
2
169
2020 12 31
10.
2020 12 31 2019 12 31
(1) 205,022 122,904
(2) 1,600,152 3,231,288
91,371 1,026,904
1,713,803 2,327,288
2020 12 31
(1)
Bestel Communications Ltd.* 50% — — (2,255) — — — — 2,255 — —
50% 45,706 — — (14,363) — — — — 31,343 —
PengzhongXingsheng* 50% — — (6,134) — — — — 6,134 — —
49% 21,809 — — 4,959 — — — — 26,768 —
10% 7,000 — — — — — — — 7,000 —
40% 40,000 — — — — — — — 40,000 —
33% — 100,000 — (89) — — — — 99,911 —
114,515 100,000 (8,389) (9,493) — — — 8,389 205,022 —
* Bestel Communications Ltd PengzhongXingsheng
170
二零二零年年度報告
2020 12 31
10.
2020 12 31
(2)
KAZNURTEL Limited Liability
Company 49% — — — — — — — — — (2,477)
23.26% 426,769 — — 25,264 — — (5,023) — 447,010 —
30% 3,764 — — (3,764) — — — — — —
Telecom Innovations 32.73% — — — — — — — — — (11,216)
18% 1,324 — — (1,324) — — — — — —
33% — — — — — — — — — (4,764)
30% 2,181 — — (2,181) — — — — — —
23% 2,862 — — (1,370) — — — — 1,492 —
INTLIVE TECHNOLOGIES
(PRIVATE) LIMITED 49% — — — — — — — — — (7,117)
* 35% 1,097 — (1,278) — — — — 181 — —
20% 2,000 — — — — — — — 2,000 —
30% 742 — — (172) — — — (570) — (570)
** 30% 12,192 — (7,853) (4,339) — — — — — —
39% 4,862 — — (175) — — — — 4,687 —
29% 26,782 — (20,700) (1,944) — — — — 4,138
New Idea Investment Pte. Ltd 20% 7,163 — — — 2 — — (7,165) — (14,551)
19% — — — — — — — — — (37,248)
21.26% 2,860 — — 952 — — — — 3,812 —
30% 52,446 — — — — — — — 52,446 —
9.31% 5,024 105 — (11) — — — — 5,118 —
12.5% 2,054 — — 98 — — — — 2,152 —
Laxense,lnc.** 18.7% 16,300 — (15,900) (7) (393) — — — — —
28% 1,935 — — (409) — — — — 1,526 —
Kron Telekomunikasyon
Hizmetleri A.S. 10% 10,560 — — 1,078 (765) — (1,155) — 9,718 —
10% 1,069 — — — — — — — 1,069 —
26.21% — — — — — — — — — (13,428)
*** 49.9% 644,000 — (1,484,868) (93,830) — — — 934,698 — —
25% 5,399 — — (985) — — — — 4,414 —
28.99% 901,674 — — (308,526) — 274,466 — — 867,614 —
12% 32,080 — — (15,908) — — — — 16,172 —
41% 45,634 — — (2,786) — — — — 42,848 —
15% — 1,500 — 71 — — — — 1,571 —
35% — 7,000 — (3,956) — — — — 3,044 —
45.9% — 34,748 — 3,202 — — — — 37,950 —
2,212,773 43,353 (1,530,599) (411,022) (1,156) 274,466 (6,178) 927,144 1,508,781 (91,371)
*
** Laxense,lnc.
*** 28.43% 78.33%
171
2020 12 31
10.
2019 12 31
(1)
Bestel Communications Ltd. — — — — — — — — — (2,255)
57,234 — (11,528) — — — — 45,706 —
PengzhongXingsheng 6,138 — — (4) — — — (6,134) — (6,134)
27,278 — (5,469) — — — — 21,809 —
7,000 — — — — — — — 7,000 —
— 40,000 — — — — — — 40,000 —
97,650 40,000 — (17,001) — — — (6,134) 114,515 (8,389)
(2)
KAZNURTEL Limited Liability
Company — — — — — — — — — (2,477)
426,995 — — (226) — — — — 426,769 —
3,947 — — (183) — — — — 3,764 —
Telecom Innovations — — — — — — — — — (11,216)
1,790 — — (466) — — — — 1,324 —
— — — — — — — — — (4,764)
4,360 — — (2,179) — — — — 2,181 —
2,927 — — (65) — — — — 2,862 —
INTLIVE TECHNOLOGIES
(PRIVATE) LIMITED — — — — — — — — — (7,117)
3,856 — — (2,578) — — — (181) 1,097 (181)
2,000 — — — — — — — 2,000 —
1,314 — — (572) — — — — 742 —
* 7,290 — (7,290) — — — — — — —
13,902 — — (1,710) — — — — 12,192 —
4,634 — — 228 — — — — 4,862 —
** 73,579 — (66,054) (7,907) 382 — — — — —
26,134 — — 648 — — — — 26,782 —
New Idea Investment Pte.Ltd 6,930 — — (53) 748 — — (462) 7,163 (7,386)
— — — — — — — — — (37,248)
3,876 — — (1,016) — — — — 2,860 —
52,446 — — — — — — — 52,446 —
4,133 1,198 — (307) — — — — 5,024 —
2,010 — — 44 — — — — 2,054 —
Laxense, lnc. 16,280 — — (276) 296 — — — 16,300 —
2,261 — — (326) — — — — 1,935 —
Kron Telekomunikasyon Hizmetleri
A.S. 9,485 — (376) 1,227 224 — — — 10,560 —
1,069 — — — — — — — 1,069 —
*** 14,697 — — (1,269) — — — (13,428) — (13,428)
1,281,524 — — (637,524) — — — — 644,000 (934,698)
8,587 — — (3,188) — — — — 5,399 —
893,341 — — 9,744 — (1,411) — — 901,674 —
48,278 — — (16,198) — — — — 32,080 —
— 45,634 — — — — — — 45,634 —
2,917,645 46,832 (73,720) (664,152) 1,650 (1,411) — (14,071) 2,212,773 (1,018,515)
172
二零二零年年度報告
2020 12 31
10.
2019 12 31
(2)
*
**
***
2020
Bestel Communications Ltd. 2,255 — (2,255) —
PengzhongXingsheng 6,134 — (6,134) —
KAZNURTEL Limited Liability
Company 2,477 — — 2,477
Telecom Innovations 11,216 — — 11,216
4,764 — — 4,764
INTLIVE ECHNOLOGIES
(PRIVATE) LIMITED 7,117 — — 7,117
181 — (181) —
New Idea Investment Pte.Ltd 7,386 7,165 — 14,551
37,248 — — 37,248
13,428 — — 13,428
— 570 — 570
934,698 — (934,698) —
1,026,904 7,735 (943,268) 91,371
2019
Bestel Communications Ltd. 2,255 — — 2,255
PengzhongXingsheng — 6,134 6,134
KAZNURTEL Limited Liability
Company 2,477 — — 2,477
Telecom Innovations 11,216 — — 11,216
4,764 — — 4,764
INTLIVE TECHNOLOGIES
(PRIVATE) LIMITED 7,117 — — 7,117
— 181 — 181
New Idea Investment Pte.Ltd 6,924 462 — 7,386
37,248 — — 37,248
— 13,428 — 13,428
934,698 — — 934,698
1,006,699 20,205 — 1,026,904
173
2020 12 31
11.
2020 12 31 2019 12 31
1,536,741 1,594,254
12.
2020 12 31
1,957,242
96,901
(20,667)
48 1,758
2,035,234
2019 12 31
2,011,999
(62,000)
48 7,243
1,957,242
2020 12 31 1,727,000 2019 12 31 1,717,567
174
二零二零年年度報告
2020 12 31
13.
2020 12 31
7,376,296 40,441 5,533,723 3,164,125 281,759 362,772 16,759,116
1,653,580 — 1,566,243 249,756 22,940 74,009 3,566,528
533,155 — 31,824 1,610 — 88 566,677
79,598 — 60,453 57,045 6,706 779 204,581
(35,617) — (818,322) (315,996) (31,234) (22,424) (1,223,593)
(22,900) (11,152) (6,629) (21,170) (4,741) (19,041) (85,633)
9,584,112 29,289 6,367,292 3,135,370 275,430 396,183 19,787,676
1,853,492 — 3,313,005 1,775,221 169,974 222,677 7,334,369
280,061 — 798,921 278,667 23,062 84,210 1,464,921
47,707 — 45,053 27,401 3,684 672 124,517
(18,557) — (695,099) (261,273) (28,446) (25,103) (1,028,478)
(12,538) — (4,477) (19,546) (2,571) (11,198) (50,330)
2,150,165 — 3,457,403 1,800,470 165,703 271,258 7,844,999
21,270 — 1,886 16,926 1,096 81 41,259
— — 426 10 — 21 457
— — (638) (11,415) (1,096) — (13,149)
— — 166 — — 2 168
21,270 — 1,840 5,521 — 104 28,735
7,412,677 29,289 2,908,049 1,329,379 109,727 124,821 11,913,942
5,501,534 40,441 2,218,832 1,371,978 110,689 140,014 9,383,488
175
2020 12 31
13.
2019 12 31
7,293,996 41,339 4,895,506 2,992,242 287,672 356,499 15,867,254
148,248 — 1,266,629 133,465 21,868 26,751 1,596,961
191,860 — 33,583 256,909 8 1,226 483,586
(259,479) — (661,791) (222,717) (27,809) (26,689) (1,198,485)
1,671 (898) (204) 4,226 20 4,985 9,800
7,376,296 40,441 5,533,723 3,164,125 281,759 362,772 16,759,116
1,686,740 — 3,120,285 1,744,448 166,323 210,037 6,927,833
307,307 — 673,970 235,886 25,143 25,111 1,267,417
(142,527) — (481,091) (208,930) (21,512) (14,012) (868,072)
1,972 — (159) 3,817 20 1,541 7,191
1,853,492 — 3,313,005 1,775,221 169,974 222,677 7,334,369
21,270 — 1,947 16,959 1,096 81 41,353
— — (41) (33) — — (74)
— — (20) — — — (20)
21,270 — 1,886 16,926 1,096 81 41,259
5,501,534 40,441 2,218,832 1,371,978 110,689 140,014 9,383,488
5,585,986 41,339 1,773,274 1,230,835 120,253 146,381 8,898,068
2020 12 31 2,033,892 2019
12 31 2,929,703
14.
2020 2019
361,161 — 361,161 261,568 — 261,568
6,356 — 6,356 526,795 — 526,795
182,031 — 182,031 75,810 — 75,810
3,061 — 3,061 3,957 — 3,957
84,520 — 84,520 50,712 — 50,712
194,464 — 194,464 129,471 — 129,471
214,898 6,591 208,307 123,403 — 123,403
1,046,491 6,591 1,039,900 1,171,716 — 1,171,716
176
二零二零年年度報告
2020 12 31
14.
2020 12 31
(%)
978,070 261,568 99,593 — — — 361,161 36.93%
578,333 526,796 5,317 525,757 — — 6,356 92.01%
478,000 75,810 106,221 — — — 182,031 49.49%
265,012 3,957 950 1,846 — — 3,061 99.48%
699,640 50,712 33,808 — — — 84,520 12.08%
774,200 129,471 64,993 — — — 194,464 25.12%
— 123,402 130,570 39,074 — 6,591 208,307
1,171,716 441,452 566,677 — 6,591 1,039,900
2019 12 31
(%)
1,017,932 11,357 19,915 31,272 — — — 100.00%
119,100 108,248 31,350 139,598 — — — 100.00%
978,070 224,488 37,080 — — — 261,568 26.74%
236,020 4,492 — 4,492 — — — 100.00%
892,530 391,436 135,359 — — — 526,795 59.02%
478,000 31,357 44,453 — — — 75,810 27.26%
518,460 220,896 41,793 258,732 — — 3,957 89.19%
699,640 59,240 33,808 — 42,336 — 50,712 7.25%
774,200 91,398 38,073 — — — 129,471 16.72%
153,132 80,527 49,492 60,764* — 123,403
1,296,044 462,358 483,586 103,100 — 1,171,716
* 2019 3 2019 5
177
2020 12 31
14.
2020
— 6,591 — 6,591
— 6,591 — 6,591
2020 12 31 2019 12 31
15.
2020 12 31
1,395,884 110,319 123,555 1,629,758
299,975 11,646 74,423 386,044
(127,650) (22,912) (53,907) (204,469)
46,881 30,574 (253) 77,202
1,615,090 129,627 143,818 1,888,535
437,127 32,804 96,046 565,977
274,565 59,628 71,909 406,103
(127,650) (22,912) (53,907) (204,469)
44,005 29,739 (29) 73,714
628,047 99,259 114,019 841,325
987,043 30,368 29,799 1,047,210
958,757 77,515 27,509 1,063,781
178
二零二零年年度報告
2020 12 31
15.
2019 12 31
902,642 40,736 8,886 952,264
427,607 80,424 114,356 622,387
65,635 (10,841) 313 55,107
1,395,884 110,319 123,555 1,629,758
385,208 43,621 96,039 524,868
51,919 (10,817) 7 41,109
437,127 32,804 96,046 565,977
958,757 77,515 27,509 1,063,781
902,642 40,736 8,886 952,264
179
2020 12 31
16.
2020 12 31
707,951 157,517 2,733,148 1,152,934 12,145,786 16,897,336
343,047 11,270 346,789 163,741 — 864,847
— — — — 2,045,902 2,045,902
37,024 304,415 1,640 735,132 — 1,078,211
(70,980) (8,943) (6,457) (65) — (86,445)
(22,328) — — 9,873 — (12,455)
994,714 464,259 3,075,120 2,061,615 14,191,688 20,787,396
206,494 149,587 321,658 746,349 7,676,568 9,100,656
230,393 22,552 71,513 214,581 1,595,042 2,134,081
28,667 158,679 260 572 — 188,178
(61,367) (3,113) (135) (34) — (64,649)
(14,850) — — (8,782) — (23,632)
389,337 327,705 393,296 952,686 9,271,610 11,334,634
14,300 — 6,322 57,238 — 77,860
— 12,205 — — — 12,205
— — (6,322) — — (6,322)
315 — — 1,422 — 1,737
14,615 12,205 — 58,660 — 85,480
590,762 124,349 2,681,824 1,050,269 4,920,078 9,367,282
487,157 7,930 2,405,168 349,347 4,469,218 7,718,820
180
二零二零年年度報告
2020 12 31
16.
2019 12 31
630,241 187,480 5,307,974 1,026,695 9,026,476 16,178,866
232,207 12,142 67,466 183,743 — 495,558
— — — — 3,128,526 3,128,526
(157,219) (42,105) (2,642,292) (56,310) (9,216) (2,907,142)
2,722 — — (1,194) — 1,528
707,951 157,517 2,733,148 1,152,934 12,145,786 16,897,336
206,007 116,867 281,096 597,531 6,340,979 7,542,480
144,556 48,905 93,333 204,191 1,337,372 1,828,357
(145,782) (16,185) (52,771) (56,283) (1,783) (272,804)
1,713 — — 910 — 2,623
206,494 149,587 321,658 746,349 7,676,568 9,100,656
14,338 — 6,322 57,238 — 77,898
(38) — — — — (38)
14,300 — 6,322 57,238 — 77,860
487,157 7,930 2,405,168 349,347 4,469,218 7,718,820
409,896 70,613 5,020,556 371,926 2,685,497 8,558,488
2020 12 31 1,032,215 2019 12
31 1,107,753
2020 12 31 53% 2019 12
31 58%)
181
2020 12 31
17.
2020 12 31
32,057 77,485 (107,272) 2,270
1,844,352 2,164,865 (1,938,630) 2,070,587
1,876,409 2,242,350 (2,045,902) 2,072,857
2019 12 31
29,448 64,191 (61,582) 32,057
2,702,908 2,208,388 (3,066,944) 1,844,352
2,732,356 2,272,579 (3,128,526) 1,876,409
18.
2020 12 31
186,206 — — 186,206
33,500 — — 33,500
NETAS TELEKOMUNIKASYON A.S. 89,763 — — 89,763
309,469 — — 309,469
2019 12 31
186,206 — — 186,206
33,500 — — 33,500
NETAS TELEKOMUNIKASYON A.S. 89,763 — — 89,763
309,469 — — 309,469
182
二零二零年年度報告
2020 12 31
18.
2020 12 31
— — — —
33,500 — — 33,500
NETAS TELEKOMUNIKASYON A.S. 89,763 — — 89,763
123,263 — — 123,263
2019 12 31
— — — —
33,500 — — 33,500
NETAS TELEKOMUNIKASYON A.S. 89,763 — — 89,763
123,263 — — 123,263
2019
NETAS TELEKOMUNIKASYON A.S.
NETAS TELEKOMUNIKASYON A.S.
2020 12 31 NETAS TELEKOMUNIKASYON A.S.
183
2020 12 31
18.
2020 12 31
1,025,138
2.62%
13.41%
184
二零二零年年度報告
2020 12 31
19.
2020 12 31 2019 12 31
2,281,961 464,969 1,932,855 423,705
1,295,712 266,314 1,177,002 241,636
1,424,193 213,629 1,598,838 239,826
2,572,554 279,142 2,532,673 284,946
245,741 40,938 276,374 43,957
175,954 29,277 205,509 32,635
10,369,097 1,599,119 4,884,984 738,940
4,118,262 545,809 3,475,772 464,503
1,747,971 262,196 864,384 129,658
496,504 74,476 320,130 48,019
1,162,649 165,721 1,107,399 166,110
25,890,598 3,941,590 18,375,920 2,813,935
2020 12 31 2019 12 31
1,090,898 163,635 1,087,549 163,132
513,699 99,174 308,760 63,757
1,073,769 161,065 268,223 40,233
1,047,210 157,082 1,042,607 156,391
385,670 57,850 340,726 51,110
4,111,246 638,806 3,047,865 474,623
185
2020 12 31
19.
2020 12 31 2019 12 31
504,489 3,437,101 302,563 2,511,372
504,489 134,317 302,563 172,060
2020 12 31 2019 12 31
5,008,396 4,286,930
140,840 10,189
5,149,236 4,297,119
2020 12 31 2019 12 31
2020 — 171,744
2021 103,206 373,813
2022 106,593 352,484
2023 372,143 285,530
2024 341,724 257,618
2025 4,084,730 2,845,741
5,008,396 4,286,930
186
二零二零年年度報告
2020 12 31
20.
2020 12 31 2019 12 31
8,024,888 7,359,670
68,027 61,897
8,092,915 7,421,567
2020 12 31 2019 12 31
967,600 714,225
261,394 59,285
351,623 359,281
1 2,692,163 2,869,525
241,137 173,269
1,765,940 1,648,523
6,279,857 5,824,108
1
2
187
2020 12 31
21.
2020 12 31 2019 12 31
4,631,452 4,631,452 10,928,990 10,928,990
531,948 3,468,509 740,240 5,169,096
125,817 1,009,251 128,000 1,001,869
266,000 236,282 354,915 417,220
748,180 748,180 4,195,791 4,195,791
300,000 300,000 4,783,000 4,783,000
30,000 30,000 75,000 75,000
20,000 20,000 10,000 10,000
115,486 115,486 65,000 65,000
10,559,160 26,645,966
2020 12 31 0.80%–19.50% 9.30%–
19.50% 2019 12 31 1.10%–27.66% 9.75%–
27.66%
58
2020 12 31 2019 12 31
22.
2020 12 31 2019 12 31
153,961 126,223
3
23A.
2020 12 31 2019 12 31
5,624,190 4,763,510
5,739,866 4,609,430
11,364,056 9,372,940
188
二零二零年年度報告
2020 12 31
23B.
2020 12 31 2019 12 31
0 6 16,404,105 17,555,506
6 12 371,996 398,107
1 2 181,788 194,548
2 3 155,278 166,176
3 38,566 41,273
17,151,733 18,355,610
6
2020 12 31 1 2019 12 31
24.
2020 12 31 2019 12 31
14,998,172 14,517,057
25.
2020 12 31
8,800,736 21,677,370 (20,094,184) 10,383,922
143,866 808,532 (826,003) 126,395
9,403 272,837 (247,062) 35,178
8,954,005 22,758,739 (21,167,249) 10,545,495
2019 12 31
6,100,580 19,223,455 (16,523,299) 8,800,736
155,195 1,236,623 (1,247,952) 143,866
3,864 215,810 (210,271) 9,403
6,259,639 20,675,888 (17,981,522) 8,954,005
189
2020 12 31
25.
2020 12 31
7,322,241 19,338,887 (18,217,884) 8,443,244
16,880 25,380 (27,287) 14,973
62,202 731,430 (731,964) 61,668
55,308 686,624 (683,511) 58,421
2,913 8,413 (9,953) 1,373
3,981 36,393 (38,500) 1,874
22,725 683,172 (672,492) 33,405
1,376,688 898,501 (444,557) 1,830,632
8,800,736 21,677,370 (20,094,184) 10,383,922
2019 12 31
4,823,725 17,413,442 (14,914,926) 7,322,241
19,233 34,168 (36,521) 16,880
67,792 715,507 (721,097) 62,202
60,291 653,638 (658,621) 55,308
3,044 14,407 (14,538) 2,913
4,457 47,462 (47,938) 3,981
20,032 559,663 (556,970) 22,725
1,169,798 500,675 (293,785) 1,376,688
6,100,580 19,223,455 (16,523,299) 8,800,736
190
二零二零年年度報告
2020 12 31
25.
2020 12 31
136,591 789,947 (802,594) 123,944
7,275 18,585 (23,409) 2,451
143,866 808,532 (826,003) 126,395
2019 12 31
147,602 1,203,191 (1,214,202) 136,591
7,593 33,432 (33,750) 7,275
155,195 1,236,623 (1,247,952) 143,866
2020 12 31 2019 12 31
144,250 144,505
0% 50%
2020 12
31
191
2020 12 31
25.
2020 12 31 2019 12 31
3.25% 3.25%
5.50% 5.50%
2020
0.25% (3,315) 0.25% 3,420
1.00% 14,425 1.00% (12,983)
2019
0.25% (3,773) 0.25% 3,554
1.00% 14,451 1.00% (13,005)
2020 12 31 2019 12 31
4,601 4,338
4,601 4,338
192
二零二零年年度報告
2020 12 31
25.
2020 12 31 2019 12 31
144,505 136,245
— —
— —
— —
4,601 4,338
— —
— —
— —
(4,506) (3,677)
(350) 7,599
144,250 144,505
2020 12 31 2019 12 31
144,505 136,245
4,601 4,338
— —
(350) 7,599
(4,506) (3,677)
144,250 144,505
26.
2020 12 31 2019 12 31
118,864 142,296
445,022 399,124
424,621 289,990
20,401 109,134
213,819 240,328
30,996 35,078
27,643 36,013
41,857 36,009
878,201 888,848
193
2020 12 31
27.
2020 12 31 2019 12 31
28,561 54,296
4,677 5,222
4,319,564 4,561,600
4,352,802 4,621,118
2020 12 31 2019 12 31
225 225
4,452 4,997
4,677 5,222
2020 12 31 2019 12 31
881,389 1,003,146
633,222 51,066
2,483,236 3,125,921
8,105 8,299
313,612 373,168
4,319,564 4,561,600
194
二零二零年年度報告
2020 12 31
28.
2020 12 31
1 1,619,216 1,185,309 (1,048,258) 1,756,267
2 166,491 60,538 (54,065) 172,964
180,757 127,260 (152,014) 156,003
1,966,464 1,373,107 (1,254,337) 2,085,234
2019 12 31
1 1,494,051 1,730,893 (1,605,728) 1,619,216
2 366,195 16,586 (216,290) 166,491
307,368 148,207 (274,818) 180,757
2,167,614 1,895,686 (2,096,836) 1,966,464
1
2
29.
2020 12 31 2019 12 31
1,651,543 92,053
453,134 520,208
2,104,677 612,261
195
2020 12 31
30.
2020 12 31 2019 12 31
16,269,550 16,269,550 5,999,823 5,999,823
572,500 3,732,929 530,000 3,700,990
363 2,909 363 2,839
23,502 20,876 195,000 229,232
350,000 2,282,140 — —
206,190 206,190 20,159 20,159
99,710 99,710 92,050 92,050
22,614,304 10,045,093
2020 12 31 0.75%–12.06% 9.00%–
12.06% 2019 12 31 0.75%–12.56% 10.00%–
12.56%)
58
31.
2020 12 31 2019 12 31
718,186 645,294
32.
2020 12 31 2019 12 31
236,408 857,398
3,668,911 2,117,396
19,290 38,693
3,924,609 3,013,487
196
二零二零年年度報告
2020 12 31
33.
2020 12 31
— 43,032 — — 43,032 43,032
— 338,067 — — 338,067 338,067
494 86 — — 86 580
494 381,185 — — 381,185 381,679
3,471,534 4,720 — — 4,720 3,476,254
755,502 — — — — 755,502
4,227,036 4,720 — — 4,720 4,231,756
4,227,530 385,905 — — 385,905 4,613,435
2019 12 31
3,601 82 — (3,189) (3,107) 494
3,601 82 — (3,189) (3,107) 494
3,433,569 34,776 — 3,189 37,965 3,471,534
755,502 — — — — 755,502
4,189,071 34,776 — 3,189 37,965 4,227,036
4,192,672 34,858 — — 34,858 4,227,530
A 381,098,968
(2020) 60438556_H02 2017
4,806,061 A
197
2020 12 31
34.
2020 12 31
1 11,774,076 11,480,688 (538,107) 22,716,657
2 290,356 235,705 (46,908) 479,153
80,000 — — 80,000
12,144,432 11,716,393 (585,015) 23,275,810
2019 12 31
1 10,925,665 943,559 (95,148) 11,774,076
2 438,791 191,790 (340,225) 290,356
80,000 — — 80,000
11,444,456 1,135,349 (435,373) 12,144,432
1 A 381,098,968 30.21
11,512,999,823.28 2020 1 14 50,000,000.00
11,462,999,823.28 3,581,098.97
11,459,418,724.31 381,098,968.00
3,032,892.39
11,462,451,616.70 381,098,968.00 11,081,352,648.70
122,556 47
80,000 455,808
274,466
31
2 2017 7
104,320 46,909 2020 11
128,336 2020 12
3,049
35.
2020 12 31
— 114,766 — 114,766
— 114,766 — 114,766
2020 A 2,973,900
114,765,557.00
198
二零二零年年度報告
2020 12 31
36.
2019 2019 2020
1 1 12 31 12 31
(65,678) (7,599) (73,277) 350 (72,927)
44,350 — 44,350 — 44,350
(67,982) — (67,982) — (67,982)
(2,751,020) 54,180 (2,696,840) (269,992) (2,966,832)
792,769 — 792,769 — 792,769
(2,047,561) 46,581 (2,000,980) (269,642) (2,270,622)
2020
350 — — 350 —
(295,680) — — (269,992) (25,688)
(295,330) — — (269,642) (25,688)
199
2020 12 31
36.
2019
(7,599) — — (7,599) —
54,180 — — 51,320 2,860
46,581 — — 43,721 2,860
37.
2020 12 31
2,775,521 — 192,952 — 2,968,473
2019 12 31
2,324,748 (1,441) 452,214 — 2,775,521
10%
50%
200
二零二零年年度報告
2020 12 31
38.
2020 12 31 2019 12 31
11,680,365 6,983,261
— 1,441
11,680,365 6,984,702
4,259,752 5,147,877
(192,952) (452,214)
(922,687) —
14,824,478 11,680,365
39.
(1)
2020 12 31
2019 12 31
2015.1.27 0.0581 100 6,000 6,252,364 2020.1.27
2015 1 27 2015 60
5
5 5.81%
6
300 5
(www.chinabond.com.cn)
5
0.01% 6 10 5
300 2020 1
27 2020 1 31
201
2020 12 31
39.
(2)
2020 12 31
6,000 6,000,000 — — 6,000 6,000,000 — —
2019 12 31
6,000 6,000,000 — — — — 6,000 6,000,000
40.
2020 2019
98,918,919 67,475,634 88,975,628 55,849,723
2,531,751 1,903,581 1,760,954 1,158,654
101,450,670 69,379,215 90,736,582 57,008,377
2020 2019
101,312,606 90,607,883
— 138,064 128,699
101,450,670 90,736,582
202
二零二零年年度報告
2020 12 31
40.
2020 2019
67,913,117 58,088,333
14,729,300 13,180,258
4,822,622 5,316,090
13,847,567 14,023,202
101,312,606 90,607,883
26,183,343 25,567,576
11,158,807 12,118,956
63,970,456 52,921,351
101,312,606 90,607,883
90,153,799 77,193,824
11,158,807 13,414,059
101,312,606 90,607,883
2020 2019
13,664,562 10,463,823
41.
2020 2019
225,489 344,902
171,736 265,776
85,445 66,162
18,539 18,670
162 51
88,868 76,073
94,378 158,877
684,617 930,511
203
2020 12 31
42.
2020 2019
4,686,431 4,425,933
689,508 689,219
536,690 636,966
170,330 242,190
256,010 279,895
777,779 878,488
462,089 716,031
7,578,837 7,868,722
43.
2020 2019
2,047,556 1,946,794
106,476 100,683
550,224 485,330
47,691 48,232
66,478 101,699
2,176,571 2,090,085
4,994,996 4,772,823
44.
2020 2019
9,633,362 8,082,720
584,068 472,094
2,103,338 1,799,585
296,306 274,205
997,171 794,119
1,182,780 1,125,175
14,797,025 12,547,898
204
二零二零年年度報告
2020 12 31
45.
2020 2019
1,495,660 1,718,187
72,545 81,261
26,169 25,920
90,599 —
1,238,753 931,929
(17,461) (16,736)
181,091 196,433
420,537 965,955
2020 2019
1,012,366 685,584
193,825 219,398
32,562 26,947
1,238,753 931,929
46.
2020 2019
1 943,399 1,244,781
15,348 13,194
613,919 437,903
1,572,666 1,695,878
1
205
2020 12 31
47.
2020 2019
(420,515) (675,616)
9,252 18,602
14,894 31,416
(99,570) 36,425
955,174 101,939
634,696 921,281
— 24,785
(187,525) (209,387)
906,406 249,445
48.
2020 2019
(16,364) (217,046)
153,859 157,961
(100,230) (162,150)
1,758 7,243
39,023 (213,992)
49.
2020 2019
181,604 1,780,163
(497) (519)
120,353 121,143
125,687 37,466
617 (2,565)
5,339 (1,909)
433,103 1,933,779
206
二零二零年年度報告
2020 12 31
50.
2020 2019
112,427 1,260,865
70,300 294,632
457 —
12,205 —
6,591 —
7,735 20,205
209,715 1,575,702
51.
2020 2019
— 25,296
— 2,662,740
— 2,688,036
52.
2020
2020 2019
35,795 26,026 35,795
201,964 157,674 201,964
237,759 183,700 237,759
2020
2020 2019
71,697 435,050 71,697
572,616 139,162 572,616
644,313 574,212 644,313
207
2020 12 31
53.
2020 2019
66,428,034 53,594,953
18,492,468 16,947,583
3,971,297 3,586,834
234,305 330,496
7,623,969 7,737,954
96,750,073 82,197,820
54.
2020 2019
1,177,799 1,091,564
(835,325) 293,437
342,474 1,385,001
2020 2019
5,064,166 7,161,670
1 1,266,042 1,790,418
(487,273) (544,938)
22,704 27,515
63,090 101,342
(8,814) (7,503)
(894,237) (64,372)
16,458 19,086
21,126 2,242
(34,359) (36,210)
377,737 97,421
342,474 1,385,001
1
208
二零二零年年度報告
2020 12 31
55.
(1)
(2) (3)
(1) (2)
2020 2019
4,259,752 5,147,877
4,612,335 4,205,702
— 1
21,153 18,349
4,633,488 4,224,051
1
209
2020 12 31
56.
2020 2019
948,477 685,584
3,095,475 3,536,898
3,892,727 3,312,175
182,551 196,433
— 89,298
— 65,000
— 2,200,000
34,009 —
6,540 26,280
3,315,287 —
297,420 787,460
114,766 —
490,551 474,490
210
二零二零年年度報告
2020 12 31
57.
(1)
2020 2019
4,721,692 5,776,669
433,103 1,933,779
209,715 1,575,702
1,464,921 1,267,417
406,103 524,868
2,100,273 1,794,549
— (2,688,036)
(39,023) 213,992
1,936,072 1,569,367
(906,406) (249,445)
(925,729) 276,418
(37,743) 17,019
(5,950,631) (3,861,583)
3,922,920 (2,901,656)
1,026,649 2,292,420
235,704 191,790
1,635,031 (286,716)
10,232,651 7,446,554
(2)
2020 2019
1,655 2,269
31,401,401 28,503,531
31,403,056 28,505,800
211
2020 12 31
58.
2020 12 31 2019 12 31
1,683,733 3,343,511 1
188,303 222,860 2
608,213 49,772 3
6,356 344,472 4
282,266 312,418 5
— 3,305,180 3,288,091 6
6,074,051 7,561,124
1 2020 12 31 1,683,733 2019 12 31 3,343,511
115,095 2019 12 31 556,146 421,498 2019
12 31 434,039 13,097 2019 12 31 185,796
2019 12 31 368,311 180,812 2019 12 31 887,492
767,435 2019 12 31 957,924 2019 12 31
139,599
2 2020 12 31 15,860 172,443
3 2020 12 31 608,213
2019 12 31
4 2020 12 31 6,356
5 2020 12 31
282,266 2019 12 31
6 2020 12 31 2,692,163 2019 12 31 2,869,525
2 351,623
2019 12 31 359,281 261,394 2019 12 31 59,285
212
二零二零年年度報告
2020 12 31
59.
2020 12 31 2019 12 31
144 6.5204 939 1,331 6.5325 8,697
— 1.7388 — 10 1.7420 18
1,054 0.0493 52 1,986 0.0569 113
635,033 6.9830 4,434,435 791,868 6.5325 5,172,878
20,127 0.8968 18,050 43,504 0.8347 36,313
15,514 1.7326 26,880 39,642 1.9749 78,289
2,713,750 0.0450 122,119 596,943 0.0592 35,339
110,864 0.4352 48,248 41,420 0.3671 15,207
128,779,835 0.0005 64,390 732,794,000 0.0005 366,397
167,128 7.8271 1,308,128 197,780 7.7926 1,541,220
577,232 0.0586 33,826 1,244,991 0.0569 70,840
18,701 1.6976 31,747 56,845 1.6082 91,418
244,354 0.2196 53,660 545,221 0.2402 130,962
6,632 5.3473 35,463 17,441 5.2073 90,822
1,698 9.1651 15,562 3,488 8.7665 30,575
158,926 0.2318 36,839 566,625 0.2000 113,325
995,793 0.1128 112,325 269,436 0.1134 30,554
1,612,927 0.0642 103,550 2,369,845 0.0579 137,214
— 0.0000 — 11,735,000 0.0020 23,470
3,696,697 0.0021 7,763 4,282,273 0.0022 9,421
307,507 0.0612 18,819 466,056 0.0639 29,781
431,037 0.0093 4,009 1,015,566 0.0106 10,765
21,773 6.9830 152,041 21,041 6.931 145,835
683,372 6.5204 4,455,859 734,961 6.983 5,132,233
180,735 8.0216 1,449,784 212,628 7.8271 1,664,261
34,430 1.2548 43,203 29,583 1.7326 51,256
308,237 0.2172 66,949 345,751 0.2318 80,145
10,581,764 0.0890 941,777 15,254,791 0.0979 1,493,444
39,587 6.5204 258,123 8,542 6.983 59,649
3,855,065 0.0172 66,307 443,658 0.1829 8,604
7,536 8.0216 60,451 19,781 7.8271 154,828
841,309 0.0406 34,157 458,385 0.045 20,638
578,757 0.0556 32,179 599,452 0.0612 36,684
703,148 6.5204 4,584,806 328,890 6.983 2,296,636
2,121,098,139 0.0005 1,060,549 2,744,341,671 0.0005 1,378,587
89,483 8.0216 717,797 95,342 7.8271 746,250
2,291,460 0.089 203,940 3,231,874 0.0979 316,325
1,299,128 0.1358 176,422 39,916 0.1379 5,505
85,214 8.0216 683,553 124,316 7.8271 973,031
103,414 6.5204 674,301 166,679 6.983 1,163,916
10,116 1.7388 17,590 408 1.8621 759
90,848 0.1358 12,337 27,639 0.1379 3,812
891 8.8931 7,924 1,290 9.1651 11,823
213
2020 12 31
59.
2020 12 31 2019 12 31
531,948 6.5204 3,468,507 740,240 6.983 5,169,096
125,817 8.0216 1,009,254 128,000 7.8271 1,001,869
412,174 0.8883 366,134 354,915 1.176 417,220
922,500 6.5204 6,015,069 530,000 6.9830 3,700,990
363 8.0216 2,912 363 7.8271 2,839
23,502 0.8883 20,877 195,000 1.1755 229,232
1
553,700,000 28.43%
2020 12 28 2020 12 28
78.33%
2020 12 28 2020 12 28
1,629,138 1,629,138
1,206,156 223,694
2,835,294 1,852,832
759,537 759,537
128,147 —
887,684 759,537
1,947,610 1,093,295
422,047 236,917
1,525,563 856,378
—
1,525,563
553,700
49.9% 971,863
214
二零二零年年度報告
2020 12 31
1
2020 12 28
12 31
33,557
(3,331)
289
2
1 51% 51%/100%
2 100% 100%/100%
1 2020 3 4
5.1% 2020 3 4
2 2020
3.
2020 1 6 2020 1 6
2020 1 20 2020 1 20
2020
2 27 2020 2 27
2020 3 10
2020 3 10
2020 5 9 2020 5 9
2020 5 12 2020 5 12
2020 7
17 17 2020 7
ZTE PORTUGAL — TELECOMMUNICATIONS PROJECTS,
UNIPERSONNEL LIMITED 2020 8 26 2020 8 26 ZTE
PORTUGAL — TELECOMMUNICATIONS PROJECTS, UNIPERSONNEL LIMITED
NXT NETCARE SERVICES S.R.L. 2020 10 27 2020 10
27 NXT NETCARE SERVICES S.R.L ZTE
BENIN Sarl 2020 12 4 2020 12 4 ZTE BENIN Sarl
215
2020 12 31
1.
(%)
175,500 100% —
99,500 100% —
5,108 100% —
30,000 100% —
60,000 100% —
20,000 90% 10%
3,000 55% —
2.
%
128,500,000 50% —
60,000,000 49% —
* 70,000,000 10% —
100,000,000 40% —
300,000,000 33% —
* 10% 5
2 3
216
二零二零年年度報告
2020 12 31
2.
%
KAZNURTEL Limited Liability 3,000,000 49% —
Company
1,290,000,000 23.26% —
15,000,000 30% —
Telecom Innovations 5,050,000 32.73% —
30,000,000 18% —
*
34,221,649 20% —
17,909,380 26.21% —
57,680,000 30% —
20,000,000 23% —
INTLIVE TECHNOLOGIES 500 49% —
(PRIVATE) LIMITED
10,000,000 20% —
20,000,000 30% —
30,000,000 39% —
1,894,100 29% —
25,487,370 21.26% —
New Idea Investment Pte.Ltd 10,200,000 20% —
+ 1
* 200,000,000 19% —
20,000,000 30% —
* 30,000,000 9.31% —
217
2020 12 31
2.
%
16,000,000 12.5% —
*
15,000,000 28% —
Kron Telekomunikasyon 14,268.513 10% —
Hizmetleri A.S.*
* 10,000,000 10% —
50,000,000 25% —
* 400,000,000 12% —
754,108,771 28.99% —
* 100,000,000 15% —
20,000,000 35% —
50,000,000 45.9% —
118,153,846 41.4% —
* 20%
218
二零二零年年度報告
2020 12 31
2.
2020 12 31 2019 12 31
205,022 114,515
2020 2019
(9,493) (17,001)
— —
(9,493) (17,001)
2020 12 31 2019 12 31
1,508,781 1,568,773
2020 2019
(411,022) (26,628)
(1,156) —
(412,178) (26,628)
2020 12 31 2019 12 31
219
2020 12 31
1.
2020 12 31
— 35,659,832 — 35,659,832
36,118 — — 36,118
1,036,906 — — 1,036,906
— 15,891,020 — 15,891,020
— 2,679,578 — 2,679,578
— 547,792 — 547,792
— 994,141 — 994,141
— — 1,970,624 1,970,624
— 3,305,180 — 3,305,180
1,536,741 — — 1,536,741
2,609,765 59,077,543 1,970,624 63,657,932
153,961 — 153,961
— 34,825,007 34,825,007
— 1,171,320 1,171,320
— 11,364,056 11,364,056
— 17,151,733 17,151,733
— 554,930 554,930
— 2,804,953 2,804,953
— 3,668,911 3,668,911
153,961 71,540,910 71,694,871
220
二零二零年年度報告
2020 12 31
1.
2019 12 31
— 33,309,347 — 33,309,347
106,065 — — 106,065
560,662 — — 560,662
— 19,778,280 — 19,778,280
— 2,819,606 — 2,819,606
— 509,381 — 509,381
— 826,308 — 826,308
— — 2,430,389 2,430,389
— 3,288,091 — 3,288,091
1,594,254 — — 1,594,254
2,260,981 60,531,013 2,430,389 65,222,383
126,223 — 126,223
— 36,783,112 36,783,112
— 1,165,502 1,165,502
— 9,372,940 9,372,940
— 18,355,610 18,355,610
— 510,882 510,882
— 3,507,388 3,507,388
— 2,117,396 2,117,396
126,223 71,812,830 71,939,053
221
2020 12 31
2.
2019 12 31 79,816
2020 12 31
2019 12 31 41,438
2020 12 31
22,950,261 2019 12 31 25,798,167
2020 12 31 2019 12 31
547,792 467,943
554,930 469,406
2020 12 31
547,792 2019 12 31 509,381
2020 12 31 554,930
2019 12 31 510,882
2,983,900
2019 12 31 2,009,638
44,285 2019 12 31 27,630
222
二零二零年年度報告
2020 12 31
3.
223
2020 12 31
3.
12
12
12
12
224
二零二零年年度報告
2020 12 31
3.
4A 8
2020 12 31
1 1–2 2–3 3
— 11,774,360 10,296,451 12,992,217 427,572 35,490,600
— 453,134 428,583 211,222 276,437 1,369,376
— 153,961 — — — 153,961
— 11,364,056 — — — 11,364,056
17,151,733 — — — — 17,151,733
— 239,672 150,365 63,440 102,182 555,659
2,804,953 — — — — 2,804,953
86,266 13,238 13,871 1,480,971 2,398,617 3,992,963
20,042,952 23,998,421 10,889,270 14,747,850 3,204,808 72,883,301
225
2020 12 31
3.
2019 12 31
1 1–2 2–3 3
— 27,337,474 2,254,612 7,894,790 40,753 37,527,629
— 520,208 105,225 238,741 553,593 1,417,767
— 126,223 — — — 126,223
— 9,372,940 — — — 9,372,940
18,355,610 — — — — 18,355,610
— 348,866 94,745 39,913 27,358 510,882
3,507,388 — — — — 3,507,388
— 86,266 13,238 13,871 2,340,987 2,454,362
21,862,998 37,791,977 2,467,820 8,187,315 2,962,691 73,272,801
2020 12 31 LIBOR
Euribor
0.75% 17.03% 1,444,040
2020 12 31 2019 12 31 9.50%
2019 12 31 67%)
2020 25 (67,023) — (67,023)
(25) 67,023 — 67,023
2019 25 (12,150) — (12,150)
(25) 12,150 — 12,150
226
二零二零年年度報告
2020 12 31
3.
2020
5% 87,787 — 87,787
(5%) (87,787) — (87,787)
2019
5% 264,451 — 264,451
(5%) (264,451) — (264,451)
2020
5% 81,539 — 81,539
(5%) (81,539) — (81,539)
2019
5% 103,228 — 103,228
(5%) (103,228) — (103,228)
227
2020 12 31
4.
2020 12 31
2020 12 31 2019 12 31
34,825,007 36,783,112
1,171,320 1,165,502
554,930 510,882
36,551,257 38,459,496
46,122,506 37,954,298
82,673,763 76,413,794
44.2% 50.3%
1.
2020 12 31
— 36,118 — 36,118
312,925 529,085 194,896 1,036,906
— — 1,536,741 1,536,741
— 1,970,624 — 1,970,624
— — 2,035,234 2,035,234
312,925 2,535,827 3,766,871 6,615,623
— (153,961) — (153,961)
312,925 2,381,866 3,766,871 6,461,662
228
二零二零年年度報告
2020 12 31
1.
2019 12 31
— 106,065 — 106,065
116,220 37,435 407,007 560,662
— — 1,594,254 1,594,254
— 2,430,389 — 2,430,389
— — 1,957,242 1,957,242
116,220 2,573,889 3,958,503 6,648,612
— (126,223) — (126,223)
116,220 2,447,666 3,958,503 6,522,389
2.
2020 12 31
229
2020 12 31
2.
EV/EBIT
EV/Revenue P/E
LIBOR
2020 12 31
(a)
(b)
(c)
2020 12 31 2,035,234
2019 12 31 1,957,242
230
二零二零年年度報告
2020 12 31
3.
2020 12 31
2,035,234 43 – 513
2%–5%
0.5%–5.9%
7.50%–8.25%
1,731,637 4%–30%
7–43
1–6
11–13
2019 12 31
1,957,242 51 – 513
2%–5%
0.5%–5.9%
7.50%–8.25%
2,001,261 4%–30%
13–67
2–6
11–14
231
2020 12 31
4.
2020 12 31
1,957,242 — — 1,758 76,234 — 2,035,234 1,758
407,007 182,815 (407,005) (4,743) 16,822 — 194,896 (4,743)
1,594,254 — (59,937) 177,638 11,018 (186,232) 1,536,741 150,263
3,958,503 182,815 (466,942) 174,653 104,074 (186,232) 3,766,871 147,278
2019 12 31
2,011,999 — (62,000) 7,243 — — 1,957,242 7,243
49,052 70,581 (49,052) 336,426 — — 407,007 336,426
1,502,499 60,000 (70,581) 209,295 4,793 (111,752) 1,594,254 157,961
3,563,550 130,581 (181,633) 552,964 4,793 (111,752) 3,958,503 501,630
2020 2019
1,758 7,243
1,758 7,243
5.
232
二零二零年年度報告
2020 12 31
1.
10,000 22.44% 22.44%
2.
1
3.
2
4.
*1
233
2020 12 31
4.
*1 2020 11 17
234
二零二零年年度報告
2020 12 31
5.
(1)
2020 2019
32 58
2,914 14,364
376 3
835,576 604,909
439 690
63 54
— 2,702
483,231 348,969
1,415 —
3,075 3,760
335 21,446
231 208
15,986 8,476
3 6
186 6,124
— 802
— 1
Telecom Innovations 285 —
7,451 —
1,281 —
5,749 —
3 —
11,321 —
1,369,952 1,012,572
235
2020 12 31
5.
(1)
2020 2019
— 1,970
145,452 79,519
20,542 30,200
67,470 56,768
30,619 24,288
10,852 22,959
7,884 4,366
5,147 3,717
4,676 4,461
36,359 105,668
281,234 91,383
127,111 185,356
6,799 4,580
583,601 498,583
816 40
1,925 —
2,957 —
4,296 —
2,052 —
10 —
1,339,802 1,113,858
236
二零二零年年度報告
2020 12 31
5.
(2)
2020 2019
— 521
176 176
— 6
336 342
421 416
17,914 17,475
8,406 8,278
20,005 19,547
27,065 26,729
367 369
1,586 1,112
7 19
600 —
76,883 74,990
2020 2019
10,225 9,809
1,791 1,571
8,432 8,117
14,823 12,512
3,390 4,066
4,428 4,595
— 48
27 9
43,116 40,727
237
2020 12 31
5.
(3)
2020 2019
59,985 42,642
(i)
(ii)
76,883 2019 74,990
43,116
2019 40,727
(iii)
59,985 2019 42,642
3,880 2019 1,926
6.
(1) 2018 12
5(1) 2021
9
(2) 2018 12
5(1)
2021 37,500
(3) 2020 1
5(1) 2021 –2022
91,650 98,380
(4) 2020 1
5(1) 2021–
2022 58,200 66,000
(5) 2020 12
5(1) 2021
11
238
二零二零年年度報告
2020 12 31
6.
(6) 2018 7
5(2)
(7) 2020 7
5(2)
(8) 2020 1
5(2)
(9) 2020 6
5(2) 2021 2022
1,106 553
(10) 2020 7
5(2) 2021 2022
937 703
(11) 2020 8
5(2) 2021 2022 184
122
(12) 2020 11
5(2) 2021 2022 2023
1,067 1,067 178
(13) 2018 4
5(2)
(14) 2020 1
5(2)
(15) 2019 4
5(2) 2021 2022 341
114
239
2020 12 31
6.
(16) 2019 7
5(2)
(17) 2018 1
5(2)
(18) 2019 4
5(2) 2021 3,039
(19) 2019 4
5(2) 2021 1,022
(20) 2018 4
5(2) 2021 833
(21) 2020 4
5(2) 2021 106
(22) 2018 4
5(2) 2021 402
(23) 2018 12
5(2) 2021 552
(24) 2019 3
5(2) 2021 2022 796
796
(25) 2020 3
5(2) 2021 2022 10,061 10,061
(26) 2020 3
5(2) 2021 2022 2,088
2,088
(27) 2020 12
5(2) 2021 2022 1,983
1,983
240
二零二零年年度報告
2020 12 31
7.
2020 2019
12 31 12 31
149,436 87,756
4,932 —
154,368 87,756
9,513 17,772
9 9
7,319 9,515
650 650
202 902
— 157,533
152,139 180,125
2,105 730
241 241
687 —
— 33
— 64
— 1
172,865 367,575
241
2020 12 31
7.
2020 2019
12 31 12 31
— 73
Laxense,lnc. — 3,842
— 3,915
10,438 4,172
14 14
17,821 7,124
24,340 7,276
— 445
20,591 21,761
45,024 30,086
— 640
77 —
760 —
119,065 71,518
312 43
59,822 39,408
57,225 —
117,359 39,451
— 6,494
1,778 4,323
1,116 424
183 183
327 327
1,729 2,915
192 192
135 —
— 91,282
94 200
9,051 12,062
907,612 260,844
217 30
Kron Telekomunikasyon Hizmetleri A.S. — 617
17,996 26,763
305 —
1,908 —
47,264 —
989,907 406,656
242
二零二零年年度報告
2020 12 31
7.
2020 2019
12 31 12 31
5,327 5,327
2,002 4,273
1,628 1,628
155 155
19,112 28,946
13 4
24,717 8,361
— 6
— 38
— 1,570
— 30
20 17
40 40
53,014 50,395
12 12
308 310
4 4
INTLIVE TECHNOLOGIES (PRIVATE) LIMITED 4,970 5,261
2,000 2,000
158 78
198 198
272 272
65 65
70,767 467,264
1,680 —
— 47,264
2,597 4,053
50 50
2,062 —
300 —
65 —
17 —
186 —
85,711 526,831
0–90 1
243
2020 12 31
8.
(1)
2020 12 31 2019 12 31
— 89
(2)
2020 2019
1 —
54 —
55 —
1.
2020 2019
479,153 290,356
(46,908) (340,225)
235,705 191,790
2.
2017
2017 7 6
2017 1,996 14,960.12
11 —
2017 7 6
5%
5 2
1/3
17.06
244
二零二零年年度報告
2020 12 31
2.
2017
(1) (ROE)
(2)
1/3 2019.7.6–2020.7.5 2017 ROE 10% 38.25
2017 10%
1/3 2020.7.6–2021.7.5 2018 ROE 10% 38.25
2018 20%
1/3 2021.7.6–2022.7.5 2019 ROE 10% 38.25
2019 30%
1,477,496 2020 7
2020 1–12 104,320
2020 2019
17.06 44,532 17.06 81,864
(4,806) (34,858)
— (2,474)
16.86 39,726 17.06 44,532
245
2020 12 31
2.
2017
2020 12 31
39,726 16.86 2021 7 6 2022 7 5
39,726
2019 12 31
4,806 17.06 2019 7 6 2020 7 5
39,726 17.06 2021 7 6 2022 7 5
44,532
2020 4,806,061 4,806,061 4,806
122,556 33 34
0.18 0.18 0.18
(%) 43.35 42.2 42.9
(%) 3.498 3.506 3.517
5% 5% 5%
5% 5% 5%
2020
2020 11 6
2020 6,123 15,847.20
11 —
2020 11 6
5%
4 1
1/3
246
二零二零年年度報告
2020 12 31
2.
2020
1/3 2021.11.6–2022.11.5 2020 30
1/3 2022.11.6–2023.11.5 2020 2021 64.7
1/3 2023.11.6–2024.11.5 2020 2021 2022
102.3
1,444,549
2020 128,336
2020 12 31
52,824 34.47 2021 11 6 2022 11 5
52,824 34.47 2022 11 6 2023 11 5
52,824 34.47 2023 11 6 2024 11 5
158,472
0.20 0.20 0.20
(%) 34.40 33.57 30.33
(%) 2.775 2.846 2.909
5% 5% 5%
5% 5% 5%
247
2020 12 31
3. 2020
2020 10 12 2020 11 6
2020
27 11,476.6
11,476.6 1.00 8
6,260.6 54.55% 5,216.0
45.45%
A
2020 9 1 A 2,973,900 0.06%
38.85 38.40
114,765,557.00
2020 12 17
2020 12 16 —
089925**** 2,973,900
0.06%
12
2020 12 18 2021 12 17
3
12
2020 30
2 12 50%
2020 3,049
248
二零二零年年度報告
2020 12 31
1.
2020 12 31 2019 12 31
2,837,222 3,097,021
28,272 68,246
2,865,494 3,165,267
2.
2.1. 2012 11 3,135.37 3,934.26
2013 2 7
2013 7
3,122.43 3,918.03 2016 1
3,122.43
3,918.03 2016 4
2016 8 29
2016 11
3,122.43 3,918.03
2017 2 2016
10
2012 11 30 15
8,297.45 1.04
2020 12 31 1 1.2548
249
2020 12 31
2.
2.2. 2018 10 31
(1) 2 (2)
20
2019 4 9
2020 12 28
2021 1 25
2.3. 2020 8
1,230.7 1,230.7
2020 9
1,795.8
2020 10
1.88
2020 12 1,586.5
2021 1
7,254.8
250
二零二零年年度報告
2020 12 31
2.
2.4. BIS 2018 4 15
2018 4 15 2025 3 13 2018 4 15
2018 4 15
EAR EAR 2018 4 15
2018 4 23 83 17644
2018 6 BIS 2018
2017 3 BIS 2017 2018
BIS 2018 6 8 2018 6 8
2018 14 10
2018 6 8 4
2018 2018 6 8
4 2018
BIS 2018 6 8
EAR
2018 2018 6 8
2018 6 12
2018 2017
2018 2017 (i)
EAR (ii)
4
SAP (GTS) ECCN
EAR ECCN
2021
2020 1 1
251
2020 12 31
2.
2.5. 2020 12 31 12,832,332 2019 12 31
13,559,281
1. 2021 1 11
10.35
90%
90% 7.74
2. 2021 3 16 A
H 10 2 2020
2020
A H
1.
2020 2019
72,545 81,261
234,305 330,496
490,551 474,490
1 10 1 5 1 2
1–9
2020 138,064
40 12
252
二零二零年年度報告
2020 12 31
1.
2020 2019
— 2,662,740
59,509 26,947
59,509 2,689,687
2020 12 31 182,996 2019 12 31 242,505
2020 2019
2 3 3 1,824,100 —
3 4 4 — 1,824,100
182,996 242,505
1,641,104 1,581,595
2020 2019
138,064 128,698
2020 2019
1 1 132,843 132,482
1 2 2 58,788 131,019
2 3 3 49,811 58,788
3 4 4 51,472 49,811
4 5 5 52,302 51,472
5 164,453 213,724
509,669 637,296
253
2020 12 31
2.
3
(1)
(2)
(3)
254
二零二零年年度報告
2020 12 31
2.
2020
74,018,198 16,160,267 11,134,141 101,312,606
— — 138,064 138,064
74,018,198 16,160,267 11,272,205 101,450,670
18,983,391 2,494,201 2,330,409 23,808,001
1,810,425
(19,752,231)
(420,537)
39,023
(420,515)
5,064,166
2020 12 31
47,217,457 9,296,544 7,190,730 63,704,731
86,930,175
150,634,906
11,852,008 1,896,156 1,804,938 15,553,102
88,959,298
104,512,400
2020
2,897,450 632,595 441,252 3,971,297
6,180,656 1,349,412 941,250 8,471,318
(153,008) (33,406) (23,301) (209,715)
(315,991) (68,990) (48,122) (433,103)
255
2020 12 31
2.
2019
66,584,394 14,997,407 9,026,082 90,607,883
— — 128,699 128,699
66,584,394 14,997,407 9,154,781 90,736,582
21,917,122 1,229,827 1,782,023 24,928,972
1,879,578
(17,791,317)
(965,955)
(213,992)
(675,616)
7,161,670
2019 12 31
46,843,989 9,479,379 6,440,646 62,764,014
78,438,121
141,202,135
11,511,610 1,933,582 1,582,747 15,027,939
88,219,898
103,247,837
2019
2,246,935 506,097 833,802 3,586,834
3,580,558 806,481 1,114,683 5,501,722
(1,156,283) (260,440) (158,979) (1,575,702)
(1,419,047) (319,625) (195,107) (1,933,779)
256
二零二零年年度報告
2020 12 31
2.
2020 2019
68,051,181 58,217,032
14,729,300 13,180,258
4,822,622 5,316,090
13,847,567 14,023,202
101,450,670 90,736,582
2020 12 31 2019 12 31
23,868,451 19,844,745
1,903,610 1,651,432
543,826 562,167
113,328 49,331
26,429,215 22,107,675
31,153,932 2019 26,285,650
257
2020 12 31
1.
2020 12 31 2019 12 31
1 12,342,423 13,772,606
1 2 2,519,343 7,173,545
2 3 1,837,180 3,636,401
3 11,273,053 11,285,660
27,971,999 35,868,212
8,192,867 10,974,675
19,779,132 24,893,537
2020 12 31 2019 12 31
(%) (%) (%) (%)
3,737,658 13 3,737,658 100 6,237,644 17 6,237,644 100
0–6 9,221,426 34 129,412 1 9,542,656 27 218,276 2
6–12 2,340,710 8 71,040 3 3,267,561 9 74,955 2
12–18 1,507,580 5 124,598 8 2,824,007 8 155,611 6
18–24 808,692 3 93,918 12 2,291,844 6 79,193 3
2–3 1,517,661 5 484,827 32 3,366,571 10 989,417 29
3 8,838,272 32 3,551,414 40 8,337,929 23 3,219,579 39
24,234,341 87 4,455,209 18 29,630,568 83 4,737,031 16
27,971,999 100 8,192,867 29 35,868,212 100 10,974,675 31
2020 12 31 10,974,675 (319,383) (2,462,425) 8,192,867
2019 12 31 9,557,940 2,638,857 (1,222,122) 10,974,675
2020 118,758 2019
2,048,437 2019 12 31
1,072,476 11 2019 4
258
二零二零年年度報告
2020 12 31
2.
2020 12 31 2019 12 31
62,806 —
1,752,847 3,912,671
38,456,207 28,213,597
40,271,860 32,126,268
2020 12 31 2019 12 31
1 30,724,995 21,143,846
1 2 3,442,527 3,374,021
2 3 2,850,118 2,793,401
3 1,457,698 1,023,092
38,475,338 28,334,360
(19,131) (120,763)
38,456,207 28,213,597
2020 12 31 2019 12 31
374,353 145,462
38,081,854 28,068,135
38,456,207 28,213,597
259
2020 12 31
3.
2020 12 31 2019 12 31
1 4,073,135 5,541,687
2,393,718 2,224,784
27,841 29,594
6,439,012 7,736,877
1
2020 12 31 29,594 (1,753) — 27,841
2019 12 31 2,571 27,023 — 29,594
4.50% — 6.16%
260
二零二零年年度報告
2020 12 31
4.
2020 12 31 2019 12 31
(1) 158,022 67,515
(2) 1,155,088 1,875,993
7,241 7,241
1,305,869 1,936,267
(3) 12,571,262 10,759,982
(4) 401,859 425,667
12,169,403 10,334,315
13,475,272 12,270,582
2020 12 31
(1)
45,706 — — (14,363) — — — — 31,343 —
21,809 — — 4,959 — — — — 26,768 —
— 100,000 — (89) — — — — 99,911 —
67,515 100,000 — (9,493) — — — — 158,022 —
261
2020 12 31
4.
2020 12 31
(2)
KAZNURTEL Limited
Liability Company — — — — — — — — — — (2,477)
3,763 — — (3,763) — — — — — — —
426,768 — — 25,264 — — (5,023) — — 447,009 —
1,324 — — (1,324) — — — — — — —
— — — — — — — — — — (4,764)
2,181 — — (2,181) — — — — — — —
2,862 — — (1,370) — — — — — 1,492 —
4,862 — — (175) — — — — — 4,687 —
26,782 — (20,700) (1,945) — — — — — 4,137 —
2,860 — — 951 — — — — — 3,811 —
665,048 553,700 — (94,347) — — — — (1,124,401) — —
679,373 — — (301,363) — 274,466 — — — 652,476 —
32,080 — — (15,908) — — — — — 16,172 —
20,849 — — (2,786) — — — — — 18,063 —
1,868,752 553,700 (20,700) (398,947) — 274,466 (5,023) — (1,124,401) 1,147,847 (7,241)
262
二零二零年年度報告
2020 12 31
4.
2020 12 31
(3)
263,293 263,293 — 263,293 100.0% 100.0% 1,060,000
37,382 37,382 — 37,382 90.0% 90.0% —
580,000 580,000 — 580,000 100.0% 100.0% —
91,957 91,957 — 91,957 68.4% 68.4% —
179,767 179,767 — 179,767 90.0% 90.0% 5,400
41,250 41,250 — 41,250 80.0% 80.0% —
45,000 45,000 — 45,000 100.0% 100.0% —
40,500 40,500 — 40,500 83.0% 83.0% —
13,110 13,110 — 13,110 90.0% 90.0% —
5,000 5,000 — 5,000 100.0% 100.0% —
600,000 600,000 — 600,000 100.0% 100.0% 500,000
157,019 157,019 — 157,019 90.0% 90.0% —
22,160 22,160 — 22,160 100.0% 100.0% —
— 29,700 (29,700) — *** — —
PT. ZTE Indonesia 15,275 15,275 — 15,275 100.0% 100.0% —
ZTE Wistron Telecom AB 2,137 2,137 — 2,137 100.0% 100.0% —
ZTE Holdings (Thailand) Co.,Ltd
10 10 — 10 100.0% 100.0% —
ZTE (Thailand) Co.,Ltd. 5,253 5,253 — 5,253 100.0% 100.0% —
ZTE (USA) Inc. 190,133 190,133 — 190,133 100.0% 100.0% —
ZTE Corporation Mexico
S.DER.LDEC.V. — 42 (42) — — — —
ZTE Do Brasil LTDA 18,573 18,573 — 18,573 100.0% 100.0% —
ZTE Romania S.R.L 827 827 — 827 100.0% 100.0% —
ZTE Telecom India PrivateLtd. 335,759 335,759 — 335,759 100.0% 100.0% —
ZTE-Communication Technologies,Ltd.
6,582 6,582 — 6,582 100.0% 100.0% —
Zhongxing Telecom Pakistan (Private)
Ltd. 5,279 5,279 — 5,279 93.0% 93.0% —
853,800 853,800 — 853,800 100.0% 100.0% —
16,500 16,500 — 16,500 55.0% 55.0% 41,250
500,000 500,000 — 500,000 100.0% 100.0% —
— — — — — ** 19,200
1,000,000 1,000,000 — 1,000,000 100.0% 100.0% —
16,000 16,000 — 16,000 100.0% 100.0% —
263
2020 12 31
4.
2020 12 31
(3)
289,341 289,341 — 289,341 100.0% 100.0% —
42,750 42,750 — 42,750 90.0% 90.0% —
50,000 50,000 — 50,000 100.0% 100.0% —
27,000 30,000 (3,000) 27,000 90.0% 90.0% —
47,500 47,500 — 47,500 95.0% 95.0% —
232,360 232,360 — 232,360 100.0% 100.0% —
300,000 300,000 — 300,000 100.0% 100.0% —
15,000 15,000 — 15,000 50.0% 50.0% —
15,000 15,000 — 15,000 100.0% 100.0% —
45,000 56,800 (11,800) 45,000 28.9% ** 18,400
51,530 51,530 — 51,530 100.0% 100.0% —
9,393 9,393 — 9,393 100.0% 100.0% —
19,500 19,500 — 19,500 65.0% 65.0% —
350,000 350,000 — 350,000 100.0% 100.0% —
31,400 35,400 (4,000) 31,400 44.0% * —
25,500 25,500 — 25,500 51.0% 51.0% 5,400
45,000 45,000 — 45,000 100.0% 100.0% —
50,000 50,000 — 50,000 100.0% 100.0% —
2,000 2,000 — 2,000 100.0% 100.0% —
400,000 400,000 — 400,000 100.0% 100.0% —
790,500 790,500 — 790,500 86.4% 86.4% —
1,000,000 1,000,000 — 1,000,000 100.0% 100.0% —
21,000 120,000 (99,000) 21,000 25.0% ** 36,000
— 10,000 (10,000) — — — —
41,650 44,100 (2,450) 41,650 90.0% 90.0% —
49,000 49,000 — 49,000 100.0% 100.0% —
500,000 500,000 — 500,000 100.0% 100.0% —
52,270 36,000 16,270 52,270 100.0% 100.0% —
45,000 45,000 — 45,000 100.0% 100.0% —
3,000 3,000 — 3,000 100.0% 100.0% —
10,000 10,000 — 10,000 100.0% 100.0% —
1,000,000 1,000,000 — 1,000,000 100.0% 100.0% 400,000
23,600 13,000 10,600 23,600 56.4% 56.4% —
1,124,402 — 1,124,402 1,124,402 78.3% 78.3% —
720,000 — 720,000 720,000 100% 100% —
100,000 — 100,000 100,000 100% 100% —
10,759,982 1,811,280 12,571,262 2,085,650
* 50%
5 5
** 50%
*** 2020
264
二零二零年年度報告
2020 12 31
4.
2020 12 31
(4)
ZTE(USA) Inc. 5,381 — 5,381
23,767 (23,767) —
ZTE DoBrasil LT DA 18,572 — 18,572
4,591 — 4,591
Wistron Telecom AB 2,030 — 2,030
ZTE Corporation Mexico
S.DER.LDEC.V. 41 (41) —
Zhongxing Telecom Pakistan (Private)
Ltd. 2,971 — 2,971
9,656 — 9,656
ZTE Holdings (Thailand) Co.,Ltd
10 — 10
ZTE(Thailand) Co.,Ltd. 205 — 205
ZTE Telecom India Private Ltd. 335,759 — 335,759
ZTE Romania S.R.L 827 — 827
PT ZTE Indonesia 15,275 — 15,275
ZTE-Communication Technologies,Ltd.
6,582 — 6,582
425,667 (23,808) 401,859
2019 12 31
(1)
57,234 — — (11,528) — — — — 45,706 —
27,278 — — (5,469) — — — — 21,809 —
84,512 — — (16,997) — — — — 67,515 —
265
2020 12 31
4.
2019 12 31
(2)
KAZNURTEL Limited Liability Company — — — — — — — — — (2,477)
3,947 — — (184) — — — — 3,763 —
426,995 — — (227) — — — — 426,768 —
1,790 — — (466) — — — — 1,324 —
— — — — — — — — — (4,764)
4,360 — — (2,179) — — — — 2,181 —
2,927 — — (65) — — — — 2,862 —
4,634 — — 228 — — — — 4,862 —
26,134 — — 648 — — — — 26,782 —
3,876 — — (1,016) — — — — 2,860 —
801,118 — — (136,070) — — — — 665,048 —
665,209 — — 15,575 — (1,411) — — 679,373 —
48,278 — — (16,198) — — — — 32,080 —
— 20,849 — — — — — — 20,849 —
1,989,268 20,849 — (139,954) — (1,411) — — 1,868,752 (7,241)
266
二零二零年年度報告
2020 12 31
4.
2019 12 31
(3)
263,293 263,293 — 263,293 100.0% 100.0% 4,690,000
37,382 37,382 — 37,382 90.0% 90.0% —
580,000 580,000 — 580,000 100.0% 100.0% —
91,957 91,957 — 91,957 68.0% 68.0% —
179,767 179,767 — 179,767 90.0% 90.0% 4,000
41,250 41,250 — 41,250 80.0% 80.0% —
45,000 45,000 — 45,000 100.0% 100.0% —
40,500 40,500 — 40,500 83.0% 83.0% —
13,110 13,110 — 13,110 90.0% 90.0% —
5,000 5,000 — 5,000 100.0% 100.0% —
— 2,100 (2,100) — — — —
600,000 600,000 — 600,000 100.0% 100.0% 1,200,000
157,019 157,019 — 157,019 90.0% 90.0% —
— 100,000 (100,000) — — — —
22,160 15,200 6,960 22,160 100.0% 100.0% —
29,700 29,700 — 29,700 100.0% 100.0% 2,752
PT. ZTE Indonesia 15,275 15,275 — 15,275 100.0% 100.0% —
ZTE Wistron Telecom AB 2,137 2,137 — 2,137 100.0% 100.0% —
ZTE Holdings (Thailand) Co.,Ltd
10 10 — 10 100.0% 100.0% —
ZTE (Thailand) Co.,Ltd. 5,253 5,253 — 5,253 100.0% 100.0% —
ZTE (USA) Inc. 190,133 190,133 — 190,133 100.0% 100.0% —
ZTE Corporation Mexico
S.DER.LDEC.V. 42 42 — 42 100.0% 100.0% —
ZTE Do Brasil LTDA 18,573 18,573 — 18,573 100.0% 100.0% —
ZTE Romania S.R.L 827 827 — 827 100.0% 100.0% —
ZTE Telecom India PrivateLtd. 335,759 335,759 — 335,759 100.0% 100.0% —
ZTE-Communication Technologies,Ltd.
6,582 6,582 — 6,582 100.0% 100.0% —
Zhongxing Telecom Pakistan (Private)
Ltd. 5,279 5,279 — 5,279 93.0% 93.0% —
853,800 853,800 — 853,800 100.0% 100.0% —
16,500 16,500 — 16,500 55.0% 55.0% 12,100
500,000 500,000 — 500,000 100.0% 100.0% 129,562
— — — — — * 186,000
1,000,000 1,000,000 — 1,000,000 100.0% 100.0% —
16,000 16,000 — 16,000 100.0% 100.0% —
289,341 289,341 — 289,341 100.0% 100.0% —
267
2020 12 31
4.
2019 12 31
(3)
42,750 42,750 — 42,750 100.0% 100.0% —
50,000 50,000 — 50,000 100.0% 100.0% —
30,000 30,000 — 30,000 100.0% 100.0% —
47,500 47,500 — 47,500 95.0% 95.0% —
232,360 218,240 14,120 232,360 100.0% 100.0% —
300,000 300,000 — 300,000 100.0% 100.0% 718,136
15,000 15,000 — 15,000 50.0% 50.0% —
15,000 15,000 — 15,000 100.0% 100.0% —
56,800 92,800 (36,000) 56,800 28.9% * 45,000
51,530 46,530 5,000 51,530 100.0% 100.0% —
— 30,000 (30,000) — — — —
9,393 9,393 — 9,393 100.0% 100.0% —
19,500 19,500 — 19,500 65.0% 65.0% —
350,000 350,000 — 350,000 100.0% 100.0% 128,504
35,400 35,400 — 35,400 100.0% 100.0% —
25,500 25,500 — 25,500 51.0% 51.0% —
45,000 45,000 — 45,000 100.0% 100.0% —
50,000 50,000 — 50,000 100.0% 100.0% —
— 31,620 (31,620) — 0.0% 0.0% —
2,000 2,000 — 2,000 100.0% 100.0% —
— 48,960 (48,960) — 0.0% 0.0% —
400,000 400,000 — 400,000 100.0% 100.0% —
— 2,550 (2,550) — 0.0% 0.0% —
790,500 790,500 — 790,500 100.0% 100.0% 127,034
— 2,000 (2,000) — 0.0% 0.0% —
1,000,000 1,000,000 — 1,000,000 100.0% 100.0% —
120,000 300,000 (180,000) 120,000 25.0% * 21,000
10,000 10,000 — 10,000 100.0% 100.0% —
44,100 44,100 — 44,100 90.0% 90.0% —
49,000 49,000 — 49,000 100.0% 100.0% —
500,000 500,000 — 500,000 100.0% 100.0% 100,230
36,000 36,000 — 36,000 75.0% 75.0% —
45,000 45,000 — 45,000 100.0% 100.0% —
3,000 3,000 — 3,000 100.0% 100.0% —
— 2,000 (2,000) — 0.0% 0.0% —
10,000 10,000 — 10,000 100.0% 100.0% —
1,000,000 1,000,000 — 1,000,000 100.0% 100.0% 623,260
13,000 — 13,000 13,000 45.2% ** —
11,156,132 (396,150) 10,759,982 7,987,578
* 50%
** 50%
5 3
268
二零二零年年度報告
2020 12 31
4.
2019 12 31
(4)
ZTE(USA) Inc. 5,381 — 5,381
23,767 — 23,767
ZTE DoBrasil LT DA 10,059 8,513 18,572
4,591 — 4,591
Wistron Telecom AB 2,030 — 2,030
ZTE Corporation Mexico S.DER.LDEC.V.
41 — 41
Zhongxing Telecom Pakistan (Private) Ltd.
2,971 — 2,971
9,656 — 9,656
ZTE Holdings (Thailand) Co.,Ltd 10 — 10
ZTE(Thailand) Co.,Ltd. 205 — 205
ZTE Telecom India Private Ltd. 1,654 334,105 335,759
ZTE Romania S.R.L 827 — 827
PT ZTE Indonesia — 15,275 15,275
ZTE-Communication Technologies,Ltd.
— 6,582 6,582
61,192 364,475 425,667
5.
2020 2019
81,181,914 80,626,523 66,022,132 64,882,345
12,965,366 420,762 14,155,482 172,233
94,147,280 81,047,285 80,177,614 65,054,578
6.
2020 2019
(408,440) (159,135)
2,085,650 7,987,576
14,894 31,416
501,713 15,146
(62,747) (28,111)
(65,131) (95,861)
2,065,939 7,751,031
269
2020 12 31
1
2020
—
955,174
(199,800)
127,620
1,758
(7,735)
613,919
(406,554)
2,760,747
3,845,129
(576,769)
(44,127)
3,224,233
1 1 — [2008]43
2020
943,399
15,348
783,649
2
2020
(%)
10.18% 0.92 0.92
2.47% 0.22 0.22
270
二零二零年年度報告
2020 12 31
2
2019
(%)
19.96% 1.22 1.22
1.88% 0.12 0.11
3
271
278 375
2020 12 31
2020 12 31
272
二零二零年年度報告
2020 12 31
63,970,456 63%
2.4
3 5
28 33
273
2020
12 31 27,497,009
18%
9
2.4
3 22
28
274
二零二零年年度報告
2020 12 31
33,689,306 22%
2.4
3 6
27
275
276
二零二零年年度報告
LAW KWOK KEE
2021 3 16
277
2020 12 31
2020 2019
5 101,450,670 90,736,582
(69,888,868) (58,877,974)
31,561,802 31,858,608
5 4,836,272 6,816,147
(14,797,025) (12,547,898)
(7,578,837) (7,868,722)
(5,463,478) (5,289,089)
(503,403) (2,228,411)
7 (187,525) (209,387)
(887,465) (975,775)
8 (1,495,660) (1,718,187)
(9,493) (17,001)
(411,022) (658,615)
6 5,064,166 7,161,670
11 (342,474) (1,385,001)
4,721,692 5,776,669
4,259,752 5,147,877
16,236 348,600
445,704 280,192
4,721,692 5,776,669
(295,680) 57,040
(295,680) 57,040
37 350 (7,599)
350 (7,599)
(295,330) 49,441
4,426,362 5,826,110
3,990,110 5,194,458
43 16,236 348,600
420,016 283,052
4,426,362 5,826,110
13
0.92 1.22
0.92 1.22
278
二零二零年年度報告
2020 12 31
2020 12 31 2019 12 31
14 12,953,842 10,555,204
15 2,035,234 1,957,242
16(a) 3,729,034 3,468,949
17 186,206 186,206
18 8,758,315 7,190,061
19 205,022 114,515
20 1,508,781 2,212,773
21 1,536,741 1,594,254
22 2,679,578 2,819,606
23 347,920 200,671
24 3,437,101 2,511,372
25 2,953,557 2,928,810
26 3,326,300 2,895,298
43,657,631 38,634,961
27 33,689,306 27,688,508
28 8,926,411 9,537,850
22 15,891,020 19,778,280
29 1,970,624 2,430,389
23 199,872 308,710
30 9,567,186 8,847,363
21 1,036,906 560,662
31 36,118 106,065
25 1,683,733 3,343,511
25 2,573,043 1,460,036
25 31,403,056 28,505,800
106,977,275 102,567,174
279
2020 12 31
2020 12 31 2019 12 31
32 28,515,789 27,728,550
33 14,998,172 14,517,057
34 15,326,799 14,059,625
31 153,961 126,223
35 12,210,703 26,738,019
16(b) 453,134 520,208
23 201,484 310,024
445,022 399,124
4,677 5,222
36 2,085,234 1,966,464
74,394,975 86,370,516
32,582,300 16,196,658
76,239,931 54,831,619
35 22,614,304 10,045,093
23 353,446 200,858
24 134,317 172,060
37 144,250 144,505
16(b) 718,186 645,294
38 6,152,922 5,669,511
30,117,425 16,877,321
46,122,506 37,954,298
39 4,613,435 4,227,530
(114,766) —
41 38,798,139 24,599,338
43,296,808 28,826,868
43 — 6,252,364
2,825,698 2,875,066
46,122,506 37,954,298
280
二零二零年年度報告
2020 12 31
2019 12 31 4,227,530 12,617,918* — (67,982)* 290,356* 2,775,521* (2,696,840)* 11,680,365* 28,826,868 6,252,364 2,875,066 37,954,298
— — — — — — — — — — — —
2020 1 1 4,227,530 12,617,918 — (67,982) 290,356 2,775,521 (2,696,840) 11,680,365 28,826,868 6,252,364 2,875,066 37,954,298
— — — — — — — 4,259,752 4,259,752 16,236 445,704 4,721,692
— — — — — — — — — — — —
— — — — — — (269,642) — (269,642) — (25,688) (295,330)
— — — — — — (269,642) 4,259,752 3,990,110 16,236 420,016 4,426,362
— — — — — — — — — — 437,145 437,145
— — — — — — — — — — (384,274) (384,274)
— (458,009) — — — — — — (458,009) — (288,333) (746,342)
— — — — — — — — — — (233,922) (233,922)
— — — — — — — (922,687) (922,687) — — (922,687)
— — — — — — — — — (348,600) — (348,600)
40
— — — — — 235,705 — — — 235,705 — — 235,705
— 4,806 122,556 — — (46,908) — — — 80,454 — — 80,454
381,099 11,083,599 — — — — — — 11,464,698 — — 11,464,698
— (80,000) — — — — — — (80,000) (5,920,000) — (6,000,000)
— 274,435 — — — — — — 274,435 — — 274,435
— — (114,766) — — — — — (114,766) — — (114,766)
— — — — — 192,952 — (192,952) — — — —
2020 12 31 4,613,435 23,560,499* (114,766)* (67,982)* 479,153* 2,968,473* (2,966,482)* 14,824,478* 43,296,808 — 2,825,698 46,122,506
* 38,798,139 2019 24,599,338
281
2020 12 31
2018 12 31 4,192,672 11,777,106 (67,982) 438,791 2,324,748 (2,751,020) 6,983,261 22,897,576 6,252,364 3,810,735 32,960,675
— — — — (1,441) — 1,441 — — — —
2019 1 1 4,192,672 11,777,106 (67,982) 438,791 2,323,307 (2,751,020) 6,984,702 22,897,576 6,252,364 3,810,735 32,960,675
5,147,877 5,147,877 348,600 280,192 5,776,669
— (7,599) — — — — — (7,599) — — (7,599)
— — — — — 54,180 — 54,180 — 2,860 57,040
— (7,599) — — — 54,180 5,147,877 5,194,458 348,600 283,052 5,826,110
— 42,023 — — — — — 42,023 — 112,167 154,190
— — — — — — — — — (820,451) (820,451)
— (95,148) — — — — — (95,148) — (29,856) (125,004)
— — — — — — — — — (480,581) (480,581)
— — — — — — — — (348,600) — (348,600)
40 — — — — — — — — — — —
— — — — 191,790 — — — 191,790 — — 191,790
— 34,858 901,536 — (340,225) — — — 596,169 — — 596,169
— — — — 452,214 — (452,214) — — — —
2019 12 31 4,227,530 12,617,918* (67,982)* 290,356* 2,775,521* (2,696,840)* 11,680,365* 28,826,868 6,252,364 2,875,066 37,954,298
282
二零二零年年度報告
2020 12 31
2020 2019
5,064,166 7,161,670
8 1,495,660 1,718,187
9,493 17,001
411,022 658,615
5 (1,012,366) (685,584)
5 (193,825) (219,398)
5 (32,562) (26,947)
5 (24,146) (50,018)
5 — (25,296)
5 (955,174) (126,724)
5 (634,696) (921,281)
5 — (2,662,740)
— 6 100,230 162,150
6 (137,625) 59,300
6 130 (215)
6 99,570 (36,425)
7 187,525 209,387
14 1,464,921 1,267,417
16 443,808 584,393
18 2,062,568 1,735,024
6 112,427 1,260,865
6 307,291 1,817,629
6 120,353 121,143
6 617 (2,565)
6 5,339 (1,909)
6 7,048 —
6 (497) (519)
6 7,735 14,071
6 — 6,134
6 70,300 294,632
6 12,205 —
6 235,705 191,790
(1,758) (7,243)
6 9,225,464 12,512,544
283
2020 12 31
2020 2019
(5,947,658) (3,943,014)
541,139 (1,370,256)
3,595,158 (199,167)
460,262 300,481
14,341 (459,318)
(44,367) 515,003
(819,284) (671,875)
621,283 303,489
454,795 37,702
(367,880) 846,773
(4,506) (3,677)
(306,002) (33,580)
7,422,745 7,835,105
1,302,216 933,228
(1,398,100) (1,811,072)
(422,386) (363,271)
(698,277) (861,449)
(922,687) —
(233,922) (480,581)
(348,600) (348,600)
4,700,989 4,903,360
— 1,843,640
(346,687) (1,838,466)
(2,346,436) (1,769,947)
(2,844,323) (2,752,550)
9,398 40,062
(100,000) (40,000)
(43,353) (1,198)
(12,362) (4,967)
285,711 447,907
284
二零二零年年度報告
2020 12 31
2020 2019
(257,671) —
31,100 29,730
(187,525) (209,387)
— (2,135,000)
6,178 —
24,146 50,018
844,558 1,162,806
(141,356) (218,339)
148,620 763,968
(93,444) 160,073
(1,113,007) (1,361,808)
1,635,031 (286,716)
(4,501,422) (6,120,174)
11,463,000 —
(3,581) —
80,423 587,310
2,618,638 29,690
(316,669) (787,460)
(3,315,287) (12,506)
52(b) (490,551) (474,490)
(114,766) —
(6,000,000) —
48,160,989 45,320,925
(49,465,179) (35,786,312)
44,048 (515,186)
2,661,065 8,361,971
2,860,632 7,145,157
28,505,800 21,134,111
36,624 226,532
25 31,403,056 28,505,800
25 30,702,536 23,657,550
25 700,520 4,848,250
31,403,056 28,505,800
285
2020 12 31
1.
518057
* 1,755,000,000 100% —
* 51,080,000 100% —
* 600,000,000 100% —
* 300,000,000 100% —
995,000,000 100% —
200,000,000 90% 10%
*
PT. ZTE INDONESIA 20,416,000,000 100% —
ZTE Do Brasil LTDA 6,500,000 100% —
ZTE (Thailand) Co., Ltd. 50,000,000 49% 51%
30,000,000 55% —
*
*
286
二零二零年年度報告
2020 12 31
2.1
2020 12 31
(a)
(b)
(c)
(i) (ii)
(iii) (i) (ii) (iii)
287
2020 12 31
2.2
2018
3
9 39
7
16
1 8
2018
(a) 2018
(b) 3
2020 1 1
(c) 9 39 7
(d) 16
(i)
(ii) 2021 6 30
(iii) 2020 6 1
(e) 1 8
288
二零二零年年度報告
2020 12 31
2.3
3 2
9 39 — 2 l
7 4
16
10 28
2011 4
17 3
17 3 6
1 3 5
16 2
37 2
2018 –2020 1 9
16
41 2
1
2021 1 1
2
2022 1 1
3
2023 1 1
4
5
1 5 — 2020 10
6
17 2020 10 4 39
9 2023 1 1
3 2018 6
3
37
— 21
3 37 —
21 2022
1 1
289
2020 12 31
2.3
9 39 7 4
16
2
9
24
2021 1 1
2020 12 31
10 28 2011 10
28 2011
2016 1
10 28 2011
1
2023 1 1
16
2022 1 1
37 37
2022 1 1
290
二零二零年年度報告
2020 12 31
2.3
2018–2020 1 9
16 41 2
9
2022 1 1
16 16 13
16
2.4
20%
291
2020 12 31
2.4
12 31
—
—
—
292
二零二零年年度報告
2020 12 31
2.4
(a)
(i)
(ii)
(iii)
(b)
(i)
(ii)
(iii)
(iv)
(v)
(vi) (a)
(vii) (a)(i)
(viii)
293
2020 12 31
2.4
30 50
10
5 10
5 10
294
二零二零年年度報告
2020 12 31
2.4
10
5
2 10
5
295
2020 12 31
2.4
(a)
18 63
1 10
1 5
1 2
(b)
(c)
12
296
二零二零年年度報告
2020 12 31
2.4
15
297
2020 12 31
2.4
(a) (b)
298
二零二零年年度報告
2020 12 31
2.4
12 12
30
90
1 — 12
2 —
3 —
299
2020 12 31
2.4
9
300
二零二零年年度報告
2020 12 31
2.4
12
301
2020 12 31
2.4
(i)
(ii)
302
二零二零年年度報告
2020 12 31
2.4
303
2020 12 31
2.4
15
(a)
(b)
15
304
二零二零年年度報告
2020 12 31
2.4
(a)
(b) (a)
(c) (a)
2.4
(a) (b) (c)
305
2020 12 31
2.4
(a)
(b)
(c)
2002 1 1
306
二零二零年年度報告
2020 12 31
2.4
40
307
2020 12 31
2.4
3.
(a)
(b)
(c)
308
二零二零年年度報告
2020 12 31
3.
(a) (b)
(c)
24
309
2020 12 31
3.
—
T208–0049
16
22
28
310
二零二零年年度報告
2020 12 31
3.
21
2020
12 31 186,206 2019 186,206 17
2020 12 31 1,508,781 2019 2,212,773
2020 12 31 205,022 2019 114,515 2020
12 31 12,953,842 2019 10,555,204 2020
12 31 8,758,315 2019 7,190,061 14
18 19 20
2020 12 31 1,599,119 2019
738,940 2020 12 31 5,243,883 2019
4,297,119 24
2.4
2020 12 31
6,992,935 2019 6,345,627
311
2020 12 31
3.
2020 12 31
33,689,306 2019 27,688,508
(a)
(b)
(c)
15 2020 12
31 2,035,234 2019 1,957,242
2020 12 31
156,003 2019 180,757 36
—
4.
3
(a)
(b)
(c)
312
二零二零年年度報告
2020 12 31
4.
2020 12 31
5
74,018,198 16,160,267 11,134,141 101,312,606
— — 138,064 138,064
74,018,198 16,160,267 11,272,205 101,450,670
18,983,391 2,494,201 2,330,409 23,808,001
1,238,753
3,597,519
(21,663,932)
(1,495,660)
(420,515)
5,064,166
47,217,457 9,296,544 7,190,730 63,704,731
205,022
1,508,781
85,216,372
150,634,906
11,852,008 1,896,156 1,804,938 15,553,102
88,959,298
104,512,400
(468,999) (102,396) (71,423) (642,818)
2,897,450 632,595 441,252 3,971,297
* 6,180,656 1,349,412 941,250 8,471,318
*
313
2020 12 31
4.
2019 12 31
5
66,584,394 14,997,407 9,026,082 90,607,883
— — 128,699 128,699
66,584,394 14,997,407 9,154,781 90,736,582
21,917,122 1,229,827 1,782,023 24,928,972
931,929
5,726,257
(22,031,685)
(1,718,187)
(675,616)
7,161,670
46,843,989 9,479,379 6,440,646 62,764,014
114,515
2,212,773
76,110,833
141,202,135
11,511,610 1,933,582 1,582,747 15,027,939
88,219,898
103,247,837
(2,575,330) (580,065) (354,086) (3,509,481)
2,246,935 506,097 833,802 3,586,834
* 3,580,558 806,481 1,114,683 5,501,722
*
(a)
2020 2019
68,051,181 58,217,032
14,729,300 13,180,258
4,822,622 5,316,090
13,847,567 14,023,202
101,450,670 90,736,582
314
二零二零年年度報告
2020 12 31
4.
(b)
2020 2019
23,868,451 19,844,745
1,903,610 1,651,432
543,826 562,167
113,328 49,331
26,429,215 22,107,675
2020 10%
31,153,932 2019 2019 10%
26,285,650
5.
2020 2019
101,312,606 90,607,883
138,064 128,699
101,450,670 90,736,582
315
2020 12 31
5.
(i)
2020 2019
26,183,343 25,567,576
11,158,807 12,118,956
63,970,456 52,921,351
101,312,606 90,607,883
67,913,117 58,088,333
14,729,300 13,180,258
4,822,622 5,316,090
13,847,567 14,023,202
101,312,606 90,607,883
90,153,799 77,193,824
11,158,807 13,414,059
101,312,606 90,607,883
2020 2019
13,664,562 10,463,823
(ii)
60 120
316
二零二零年年度報告
2020 12 31
5.
(ii)
2020 2019
1,012,366 685,584
193,825 219,398
32,562 26,947
#
958,747 1,257,975
24,146 50,018
##
851,678 621,604
3,073,324 2,861,526
634,696 921,281
— 36,425
955,174 126,724
— 25,296
— 2,662,740
153,859 157,961
— 215
1,758 7,243
17,461 16,736
1,762,948 3,954,621
4,836,272 6,816,147
#
3%
##
317
2020 12 31
6.
2020 2019
66,428,034 53,594,953
14 1,464,921 1,267,417
16(a) 443,808 584,393
467,526 397,652
18 1,595,042 1,337,372
15,444,333 13,483,105
(2,242,350) (2,272,579)
14,797,025 12,547,898
*
* 100,230 162,150
15 (1,758) (7,243)
* (137,625) 59,300
130 (215)
22 307,291 1,817,629
28 70,300 294,632
120,353 121,143
(497) (519)
617 (2,565)
5,339 (1,909)
(24,146) (50,018)
** 36 1,185,309 1,730,893
** 36 127,260 148,207
* 36 60,538 16,586
** 112,427 1,260,865
* 14 7,048 —
318
二零二零年年度報告
2020 12 31
6.
2020 2019
* 18 12,205 —
* 7,735 14,071
* — 6,134
16(c) 234,305 330,496
(1,367) (2,736)
12,138 11,202
— 9
17,462,215 15,548,264
235,705 191,790
37 4,601 4,338
789,947 1,203,191
18,492,468 16,947,583
(17,461) (16,736)
5 — (25,296)
5 — (2,662,740)
5 (955,174) (126,724)
* 5 99,570 (36,425)
5 (634,696) (921,281)
* 7 187,525 209,387
*
**
7.
2020 2019
187,525 209,387
319
2020 12 31
8.
2020 2019
1,172,229 1,280,980
26,169 25,920
72,545 81,261
1,270,943 1,388,161
224,717 330,026
1,495,660 1,718,187
9.
383(1)(a) (b) (c) (f) 2
2020 2019
7,963 7,125
* 29,193 19,823
163 223
37,319 27,171
*
(a)
2020 2019
250 250
250 250
* 132 —
(Yuming Bao)* 118 250
750 750
* 2020 4 10 2019
2020 6 19 2019
2020 6 19 2022 3 29
2019
320
二零二零年年度報告
2020 12 31
9.
(b)
*
2020
— 1,652 6,817 478 32 8,979
— 1,609 9,570 711 3 11,893
— 1,473 6,034 398 50 7,955
— 4,734 22,421 1,587 85 28,827
— 100 — 44 — 144
— 100 — 44 — 144
— 100 — 44 — 144
— 300 — 132 — 432
— 5,034 22,421 1,719 85 29,259
— 1,124 4,842 80 26 6,072
— 491 847 — 26 1,364
— 564 1,083 — 26 1,673
— — — — — —
— — — — — —
— 2,179 6,772 80 78 9,109
2017 7 6
2017
2017 7 6 1,996 14,960.12
1,477,496 2020 235,705
2019 191,790 232
2019 438 2017 42,000 2019 42,000
2020 11 6
2020
2020 11 6 6,123 15,847.20
1,444,549 2020
128,336 611
2020 10 12 2020 11 6
2020
27 11,476.6 11,476.6
1.00 2020 12 17
2020 12 16
— 089925****
2,973,900 0.06% 2020 3,049
95
321
2020 12 31
9.
(b)
*
2019
— 1,405 4,376 — 32 5,813
— 1,372 5,921 438 38 7,769
— 1,315 4,306 — 48 5,669
— 4,092 14,603 438 118 19,251
— 100 — — — 100
— 100 — — — 100
— 100 — — — 100
— 300 — — — 300
— 4,392 14,603 438 118 19,551
— 962 3,778 — 35 4,775
— 474 568 — 35 1,077
— 547 874 — 35 1,456
— — — — — —
— — — — — —
— — — — — —
— 1,983 5,220 — 105 7,308
10.
2019 2 9
2020 2019
6,907 5,966
38,689 28,000
1,856 1,725
112 175
47,564 35,866
322
二零二零年年度報告
2020 12 31
10.
2020 2019
6,500,001 7,000,000 — 1
7,000,001 7,500,000 — —
7,500,001 8,000,000 — 2
8,000,001 8,500,000 2 —
8,500,001 9,000,000 — —
9,000,001 9,500,000 — —
9,500,001 10,000,000 — —
10,000,001 10,500,000 1 —
3 3
11.
2020 2019
— 5,678 8,833
—
823,594 601,036
9,314 13,096
—
319,141 454,180
20,072 14,419
24 (835,325) 293,437
342,474 1,385,001
16.5% 2019 16.5%
2008 1 1 25%
2020 2022 15%
2019–
2021 15%
2020
10%
2020
15%
323
2020 12 31
11.
2018–2020 15%
2020 12.5%
2020 2022 15%
2020
12.5%
2020 2019
% %
5,064,166 7,161,670
1,266,042 25.0 1,790,418 25.0
(487,273) (9.6) (544,938) (7.6)
22,704 0.4 27,515 0.4
63,090 1.2 101,342 1.4
(8,814) (0.2) (7,503) (0.1)
(877,779) (17.3) (45,286) (0.6)
21,126 0.4 2,242 0.0
(34,359) (0.7) (36,210) (0.5)
377,737 7.5 97,421 1.4
342,474 6.8 1,385,001 19.3
9,266,941 2019 6,896,000
324
二零二零年年度報告
2020 12 31
12.
2020 2019
— 0.2
2019 0.2 922,687 922,687
13.
4,612,335
2019 4,205,702
2020 2019
4,259,752 5,147,877
2020 2019
4,612,335 4,205,702
—
21,153 18,349
4,633,488 4,224,051
2019 7 7
2020 12 31 4,806
3,706
325
2020 12 31
14.
2020 12 31
2019 12 31 2020 1 1
7,052,993 363,744 9,060,620 281,759 1,171,716 17,930,832
(1,725,645) (149,117) (5,329,796) (171,070) — (7,375,628)
5,327,348 214,627 3,730,824 110,689 1,171,716 10,555,204
2020 1 1 5,327,348 214,627 3,730,824 110,689 1,171,716 10,555,204
37,126 51,873 1,890,008 22,940 2,006,033 4,007,980
25,205 6,686 45,151 3,022 — 80,064
(2,930) (14,130) (163,214) (1,692) — (181,966)
(169,872) (110,189) (1,161,798) (23,062) — (1,464,921)
2,097,736 — 33,522 — (2,131,258) —
(20,071) (1,443) (11,787) (2,170) — (35,471)
— — (457) — (6,591) (7,048)
2020 12 31 7,294,542 147,424 4,362,249 109,727 1,039,900 12,953,842
2020 12 31
9,170,554 395,140 9,825,719 271,746 1,039,900 20,703,059
(1,876,012) (247,716) (5,463,470) (162,019) — (7,749,217)
7,294,542 147,424 4,362,249 109,727 1,039,900 12,953,842
326
二零二零年年度報告
2020 12 31
14.
2019 12 31
2018 12 31 2019 1 1
7,018,734 316,601 8,244,247 287,672 1,296,044 17,163,298
(1,564,633) (143,377) (5,093,757) (167,419) — (6,969,186)
5,454,101 173,224 3,150,490 120,253 1,296,044 10,194,112
2019 1 1 5,454,101 173,224 3,150,490 120,253 1,296,044 10,194,112
17,014 131,234 1,426,845 21,868 462,358 2,059,319
(108,765) (8,187) (207,090) (6,297) (103,100) (433,439)
(225,377) (81,930) (934,967) (25,143) — (1,267,417)
191,860 — 291,718 8 (483,586) —
(1,485) 286 3,828 — — 2,629
2019 12 31 5,327,348 214,627 3,730,824 110,689 1,171,716 10,555,204
2019 12 31
7,052,993 363,744 9,060,620 281,759 1,171,716 17,930,832
(1,725,645) (149,117) (5,329,796) (171,070) — (7,375,628)
5,327,348 214,627 3,730,824 110,689 1,171,716 10,555,204
2020 12 31 2,033,892 2019
2,929,703
15.
2020 2019
1 1 1,957,242 2,011,999
96,901 —
6 1,758 7,243
(20,667) (62,000)
12 31 2,035,234 1,957,242
5 2020 12 31
2,035,234
16
327
2020 12 31
15.
2020 12 31
— — 2,035,234 2,035,234
2019 12 31
— — 1,957,242 1,957,242
2019 1 1 2,011,999
7,243
(62,000)
2019 12 31 1,957,242
2020 1 1 1,957,242
96,901
1,758
(20,667)
2020 12 31 2,035,234
328
二零二零年年度報告
2020 12 31
15.
2020 2019
43 – 51 –
513 513
2% 5% 2% 5%
0.5% 30% 0.5% 5.9%
7.50% 8.25% 7.50% 8.25%
16.
18 63 1 10 1 5
1 2
329
2020 12 31
16.
(a)
2019 1 1 5,020,556 902,642 40,736 8,886 5,972,820
67,466 427,607 80,424 114,356 689,853
— 13,716 (24) 306 13,998
(2,589,521) — — — (2,589,521)
(33,808) — — — (33,808)
(59,525) (385,208) (43,621) (96,039) (584,393)
2019 12 31
2020 1 1 2,405,168 958,757 77,515 27,509 3,468,949
346,789 299,975 11,646 74,423 732,833
1,380 — — — 1,380
— 2,876 835 (224) 3,488
(33,808) — — — (33,808)
(37,705) (274,565) (59,628) (71,909) (443,808)
2020 12 31 2,681,824 987,043 30,368 29,799 3,729,034
(b)
2020 2019
1 1 1,165,502 952,264
732,731 622,387
37,780 (15,920)
72,545 81,261
(837,238) (474,490)
12 31 1,171,320 1,165,502
453,134 520,208
718,186 645,294
51
2.2 16
330
二零二零年年度報告
2020 12 31
16.
(c)
2020 2019
72,545 81,261
(443,808) (584,393)
(234,305) (330,496)
(605,568) (833,628)
(d) 52 51
(a)
15
138,064 2019 128,698 5
2020 12 31
2020 2019
132,843 132,482
212,373 291,090
164,453 213,724
509,669 637,296
(b)
2019 T208–0049 2,662,740
59,509 2019 26,947 5
2020 12 31
2020 2019
1,824,100 —
— 1,824,100
182,996 242,505
1,641,104 1,581,595
331
2020 12 31
17.
2020 1 1 186,206
—
—
2020 12 31 186,206
2020 12 31
309,469
(123,263)
186,206
NETAS
TELEKOMUNIKASYON A.S.
NETAS TELEKOMUNIKASYON A.S. Netas
NETAS TELEKOMUNIKASYON A.S. 2018
2019
13.41% 2.62%
Netas
2019 12 31 — — 186,206 186,206
2020 12 31 — — 186,206 186,206
332
二零二零年年度報告
2020 12 31
17.
Netas 2020 12 31 2019 12 31
—
—
18.
2020 12 31
2020 1 1
7,930 487,157 349,347 6,345,627 7,190,061
11,270 343,047 163,741 2,326,265 2,844,323
145,736 8,358 734,559 — 888,653
(5,830) (9,613) (31) (83,915) (99,389)
(22,552) (230,393) (214,581) (1,595,042) (2,062,568)
(12,205) — — — (12,205)
— (7,793) 17,233 — 9,440
2020 12 31 124,349 590,763 1,050,268 6,992,935 8,758,315
2020 12 31
305,580 966,048 2,061,042 16,264,545 19,597,215
(181,231) (375,285) (1,010,774) (9,271,610) (10,838,900)
124,349 590,763 1,050,268 6,992,935 8,758,315
2019 12 31
2019 1 1
70,613 409,896 371,926 5,417,853 6,270,288
12,142 232,207 183,743 2,324,458 2,752,550
(25,920) (11,437) (27) (59,312) (96,696)
(48,905) (144,556) (204,191) (1,337,372) (1,735,024)
— 1,047 (2,104) — (1,057)
2019 12 31 7,930 487,157 349,347 6,345,627 7,190,061
2019 12 31
157,517 707,951 1,152,934 14,022,195 16,040,597
(149,587) (220,794) (803,587) (7,676,568) (8,850,536)
7,930 487,157 349,347 6,345,627 7,190,061
333
2020 12 31
19.
2020 2019
178,430 96,312
26,592 26,592
— (8,389)
205,022 114,515
22
2020 2019
(9,493) (17,001)
(9,493) (17,001)
205,022 114,515
20.
2020 2019
1,027,276 2,015,173
572,876 1,216,115
1,600,152 3,231,288
(91,371) (1,018,515)
1,508,781 2,212,773
22 32
2020 2019
(411,022) (26,628)
(412,178) (26,628)
1,508,781 1,568,773
334
二零二零年年度報告
2020 12 31
21.
2020 2019
(i)
— 507,821 523,227
(ii) 529,085 37,435
1,036,906 560,662
(i)
— 1,536,741 1,594,254
1,536,741 1,594,254
2,573,647 2,154,916
(i) 2020 12 31
49
(ii) 2020 12 31
(iii)
2020
— (16,234)
— 153,859
(130)
137,495
335
2020 12 31
22.
2020 2019
28,316,939 35,766,089
(9,746,341) (13,168,203)
18,570,598 22,597,886
(15,891,020) (19,778,280)
2,679,578 2,819,606
90 1
2020 2019
6 16,139,416 18,838,561
6 12 1,106,378 2,331,934
1 2 1,192,777 1,061,611
2 3 132,027 365,780
18,570,598 22,597,886
(15,891,020) (19,778,280)
2,679,578 2,819,606
2020 2019
13,168,203 12,412,280
6 307,291 1,817,629
(3,366,645) (1,359,859)
(362,508) 298,153
9,746,341 13,168,203
2020 12 31 9
336
二零二零年年度報告
2020 12 31
22.
2020 12 31
6 6 12 1 2 2 3 3
7% 21% 41% 90% 100% 34%
17,435,771 1,398,525 2,030,116 1,372,649 6,079,878 28,316,939
1,296,354 292,148 837,339 1,240,622 6,079,878 9,746,341
2019 12 31
6 6 12 1 2 2 3 3
11% 13% 76% 81% 100% 37%
21,102,244 2,675,234 4,353,567 1,956,298 5,678,746 35,766,089
2,263,683 343,300 3,291,956 1,590,518 5,678,746 13,168,203
2020 2019
— 33
9,513 17,772
241 241
153,678 339,274
9,433 10,256
172,865 367,576
15,860 35 2019 67,852
23.
44
337
2020 12 31
24.
2020 2019
1 1 2,339,312 2,632,749
128,147 —
11 835,325 (293,437)
12 31 3,302,784 2,339,312
2020 2019
464,969 423,705
266,314 241,636
213,629 239,826
279,142 284,946
40,938 43,957
29,277 32,635
1,599,119 738,940
545,809 464,503
262,196 129,658
74,476 48,019
165,721 166,110
3,941,590 2,813,935
(163,635) (163,132)
(99,174) (63,757)
(161,065) (40,233)
(157,082) (156,391)
(57,850) (51,110)
(638,806) (474,623)
3,302,784 2,339,312
338
二零二零年年度報告
2020 12 31
24.
2020 2019
3,437,101 2,511,372
(134,317) (172,060)
3,302,784 2,339,312
2020 2019
5,103,043 4,286,930
140,840 10,189
5,243,883 4,297,119
2020 2019
2020 — 171,744
2021 103,206 373,813
2022 106,593 352,484
2023 372,143 285,530
2024 341,724 257,618
2025 4,179,377 2,845,741
5,103,043 4,286,930
339
2020 12 31
25.
2020 2019
38,613,389 36,238,157
— (2,953,557) (2,928,810)
— (1,683,733) (3,343,511)
(2,573,043) (1,460,036)
31,403,056 28,505,800
(700,520) (4,848,250)
30,702,536 23,657,550
27,401,032 2019 25,594,019
2020 12 31 180,812 2019
887,492 6% 2019 6%
26.
2020 2019
967,600 714,225
241,137 173,269
351,623 359,281
1,765,940 1,648,523
3,326,300 2,895,298
27.
2020 2019
12,846,287 5,300,413
1,358,892 1,188,235
2,387,251 2,572,771
7,075,271 7,904,860
10,021,605 10,722,229
33,689,306 27,688,508
340
二零二零年年度報告
2020 12 31
28.
2020 12 31 2019 12 31
9,237,256 9,987,937
(310,845) (450,087)
8,926,411 9,537,850
2020 12 31 310,845
22
12 31
2020 2019
8,926,411 9,537,850
2020 2019
450,087 152,485
6 70,300 294,632
(199,825) —
(9,717) 2,970
310,845 450,087
2020 2019
3.37% 4.51%
9,237,256 9,987,937
310,845 450,087
341
2020 12 31
29.
2020 2019
1,972,063 2,432,325
6 (1,439) (1,936)
1,970,624 2,430,389
9
30
30.
2020 2019
321,792 402,525
9,326,581 8,624,170
— 3,081
64,353 890
56,646 56,834
6 (202,186) (240,137)
9,567,186 8,847,363
2020 2019
— 73
119,065 74,991
— 459
119,065 75,523
342
二零二零年年度報告
2020 12 31
31.
2020 2019
36,118 (153,961) 106,065 (126,223)
36,118 (153,961) 106,065 (126,223)
A—
32.
2020 2019
6 27,768,161 26,928,446
6 12 371,996 398,107
1 2 181,788 194,548
2 3 155,278 166,176
3 38,566 41,273
28,515,789 27,728,550
2020 2019
— 6,494
217 30
147,788 83,206
909,655 352,743
49,606 3,634
1,107,266 446,107
180
343
2020 12 31
33.
2020 2019
14,998,172 14,517,057
34.
2020 2019
(a) 5,370,457 5,156,342
633,222 51,066
9,237,409 8,325,386
308 310
(b) 85,403 526,521
15,326,799 14,059,625
(a)
(b)
344
二零二零年年度報告
2020 12 31
35.
2020 2019
(%) (%)
— 0–18.2500 2021 2,131,055 0–18.2500 2020 18,642,749
— 20.7500–42.0000 2021 — 20.7500–42.0000 2020 224,530
— 3MLIBOR+1.3500–2.2000 2021 110,846 3MLIBOR+1.3500–2.2000 2020 1,305,821
— 6MLIBOR+0.7000–1.9000 2021 3,260,200 6MLIBOR+0.7000–1.9000 2020 2,444,050
— 12MLIBOR+1.8000 2021 29,603 12MLIBOR+1.8000 2020 156,542
— LPR+0.0500–0.9200 2021 5,198,000 LPR+0.0500–0.9200 2020 2,969,000
— 3MEURIBOR+1.1000 2021 866,333 3MEURIBOR+1.1000 2020 845,327
— 4.7500–5.7000 2021 50,000 4.7500–5.7000 2020 10,000
— 2.7800–18.0000 2021 563,666 2.7800–18.0000 2020 140,000
— LPR+1.10 2021 1,000 LPR+1.10 2020 —
12,210,703 26,738,019
— 3MLIBOR+1.6% 2023 1,956,120 — 2023 —
— 3MLIBOR+1.8% 2025 326,020 3MLIBOR+1.8% 2025 —
— 4.7500–6.9000 2022 83,341 4.7500–6.9000 2022 92,050
— 4.7500–6.9000 2023 85,323 4.7500–6.9000 2023 —
— 4.7500–6.9000 2027 — 4.7500–6.9000 2027 20,159
— LPR+90BP-6.9000 2022 58,515 LPR+90BP-6.9000 2022 —
— LPR+90BP-6.9000 2024 4,000 LPR+90BP-6.9000 2024 —
— LPR+90BP-6.9000 2027 74,719 LPR+90BP-6.9000 2027 —
— 6MLIBOR+1.4000–1.70000 2022 2,559,257 6MLIBOR+1.4000–1.70000 2022 3,700,990
— 6MLIBOR+1.4000–1.70000 2023 1,173,674 6MLIBOR+1.4000–1.70000 2023 —
— LPR+0.4400–0.6500 2021 — LPR+0.4400–0.6500 2021 185,000
— LPR+0.4400–0.6500 2022 6,765,900 LPR+0.4400–0.6500 2022 1,900,000
— LPR+0.4400–0.6500 2023 9,018,650 LPR+0.4400–0.6500 2023 —
— — — — 4.7500–12.5600 2021 2,061,499
— 4.7500–12.5600 2022 446,994 4.7500–12.5600 2022 2,082,556
— 4.7500–12.5600 2023 58,882 4.7500–12.5600 2023 —
— 0.7500 2023 2,909 0.7500 2023 2,839
22,614,304 10,045,093
34,825,007 36,783,112
345
2020 12 31
35.
2020 2019
12,210,703 26,738,019
9,914,007 2,246,499
12,625,578 7,778,435
74,719 20,159
34,825,007 36,783,112
23,943 2019 26,255
3,392 2019 24,710
2020 2019
282,267 312,418
3,869,855 2,444,871
608,213 394,244
188,303 222,860
4,948,638 3,374,393
2020 2019
20,000 10,000
346
二零二零年年度報告
2020 12 31
36.
* ** ***
2019 1 1 1,494,051 366,195 307,368 2,167,614
1,730,893 16,586 148,207 1,895,686
(1,605,728) (216,290) (274,818) (2,096,836)
2019 12 31 1,619,216 166,491 180,757 1,966,464
2020 1 1 1,619,216 166,491 180,757 1,966,464
1,185,309 60,538 127,260 1,373,107
(1,048,258) (54,065) (152,014) (1,254,337)
2020 12 31 1,756,267 172,964 156,003 2,085,234
*
**
***
37.
19 2019 12 31
2020 2019
(%) 3.25 3.25
(%) 5.50 5.50
2020 12 31
% %
0.25 (3,315) 0.25 3,420
1.00 14,425 1.00 (12,983)
347
2020 12 31
37.
2020 2019
4,601 4,338
4,601 4,338
4,601 4,338
2020 2019
1 1 144,505 136,245
4,601 4,338
(4,506) (3,677)
(350) 7,599
12 31 144,250 144,505
2020
2020 2020
1 1 12 31
144,505 4,601 4,601 (4,506) — (350) (350) 144,250
144,505 4,601 4,601 (4,506) — (350) (350) 144,250
2019
2019 2019
1 1 12 31
136,245 4,338 4,338 (3,677) — 7,599 7,599 144,505
136,245 4,338 4,338 (3,677) — 7,599 7,599 144,505
348
二零二零年年度報告
2020 12 31
38.
2020 2019
236,408 857,398
2,228,313 2,656,024
3,668,911 2,117,396
19,290 38,693
6,152,922 5,669,511
39.
2020 2019
43,032 —
338,067 —
580 494
381,679 494
3,476,254 3,471,534
755,502 755,502
4,231,756 4,227,036
4,613,435 4,227,530
40.
2017
2017 7 6 2017
1,996 14,960.12
11 —
2017 7 6
5%
5 2
1/3
17.06
349
2020 12 31
40.
2017
(1) (ROE)
(2)
1/3 2019 7 6 2020 7 5 2017 ROE 10%
38.25 2017
10%
1/3 2020 7 6 2021 7 5 2018 ROE 10%
38.25 2018
20%
1/3 2021 7 6 2022 7 5 2019 ROE 10%
38.25 2019
30%
1,477,496
2020 104,320
2020 4,806,061 4,806,061 4,806
122,556
2017
2020 2019
1 1 17.06 44,532 17.06 81,864
(4,806) (34,858)
— (2,474)
12 31 16.86 39,726 17.06 44,532
350
二零二零年年度報告
2020 12 31
40.
2017
2020
*
39,726 16.86 2021 7 6 2022 7 5
39,726
2019
*
4,806 17.06 2019 7 6 2020 7 5
39,726 17.06 2021 7 6 2022 7 5
44,532
0.18 0.18 0.18
(%) 43.35 42.2 42.9
(%) 3.498 3.506 3.517
5% 5% 5%
5% 5% 5%
351
2020 12 31
40.
2020
2020
2020 11 6 2020
6,123 15,847.20 2020
5%
4 12
1/3 34.47
2020
2020
34.47 158,472
12 31 158,472
1/3 2021.11.6–2022.11.5 2020 30
1/3 2022.11.6–2023.11.5 2020 2021
64.7
1/3 2023.11.6–2024.11.5 2020 2021 2022
102.3
1,444,549
2020 128,336
2020
*
52,824 34.47 2021 11 6 2022 11 5
52,824 34.47 2022 11 6 2023 11 5
52,824 34.47 2023 11 6 2024 11 5
158,472
352
二零二零年年度報告
2020 12 31
40.
0.20 0.20 0.20
(%) 34.40 33.57 30.33
(%) 2.775 2.846 2.909
5% 5% 5%
5% 5% 5%
2020
2020 10 12 2020 11 6
2020
27 11,476.6 11,476.6
1.00 8 6,260.6
54.55% 5,216.0
45.45%
A
2020 9 1 A 2,973,900 0.06%
114,765,557.00
2020 12 16 —
089925**** 2,973,900
0.06%
12
2 12
50%
2020 30
2
12 50%
2020 3,049
353
2020 12 31
41.
281–282
42.
2020 12 28 28.43% 78.33%
553,700
1,629,138
1,206,156
(759,537)
(128,147)
1,947,610
(422,047)
1,525,563
971,863
553,700
1,525,563
553,700
553,700
(296,029)
257,671
2020 12 31 33,557
3,331
102,662,375 4,832,705
354
二零二零年年度報告
2020 12 31
43.
(a)
2015 1 27 2015 60
5
5 5.81% 6
300 5 (www.chinabond.
com.cn)
5 0.01% 6 10
5 300
2020 1 27 2020 1 31 . 2020 1
31 6,348,600
(b)
6,000,000 1/27/2015 60,000,000 6,000,000 6,252,364 16,236 (5,920,000) (348,600) —
44.
2020 12 31 2,983,900 2019 2,009,638
2020 12 31 44,285 2019
27,630
2020 12 31 2019 41,438
355
2020 12 31
44.
0% 100%
180
2020 12 31 15,046,798
2019 25,798,167
547,792
554,930
45.
(a)
2020 2019
12,832,332 13,559,281
12,832,332 13,559,281
(b) 2012 11 ZTE Do Brasil LTDA 3,135.37
3,934.26 2013 2 7
2013 7
3,122.43 3,918.03 2016 1
3,122.43
3,918.03 2016 4
2016 8 29
2016 11
3,122.43 3,918.03
2017 2 2016 10
2012 11 30 15
8,297.45
1.04
2020 12 31 1 1.2548
356
二零二零年年度報告
2020 12 31
45.
(c) 2018 10 31
(1) 2 (2)
20
2019 4 9
2020 12 28
2021 1 25
(d) 2020 8
1,230.7
1,230.7
2020 9
1,795.8
2020 10
1.88
2020 12 1,586.5
2021 1
7,254.8
357
2020 12 31
45.
(e) BIS 2018 4 15
2018 4 15 2025 3 13 2018 4 15
2018 4 15
EAR
EAR 2018 4 15 2018 4
23 83 17644
2018 6 BIS 2018
2017 3 BIS 2017 2018 BIS 2018
6 8 2018 6 8 2018
14 10
2018 6 8 4
2018 2018 6 8 4
2018 BIS
2018 6 8
EAR
2018 2018 6 8
2018 6 12
2018 2017
2018 2017 (i)
EAR (ii)
4
SAP
(GTS) ECCN EAR
ECCN
2021
2020 1 1
46.
35
358
二零二零年年度報告
2020 12 31
47.
2020 2019
2,837,222 3,097,021
13,000 48,690
2,850,222 3,145,711
48.
(I)
2020 2019
(a) — 1,970
(b) 32 58
(c) 10,225 9,809
(a) 906,306 649,757
(b) 507,484 378,430
(e) 18,850 72,377
(f) 55 —
(b) 2,914 14,364
(e) — 521
(a) 330,280 400,783
(b) 6,166 6,332
(e) 1,593 1,131
(a) 103,216 61,348
(b) 853,356 613,388
(d) 32,891 30,918
(e) 56,440 961
(a)
(b)
(c) 46.5 200
(d) 14.13 80
(e) 34.50 152.08
(f)
359
2020 12 31
48.
(II)
(i)
3,039 — —
17,843 14,928 —
(ii)
900,000 — —
95,700 66,000 —
91,650 98,380 —
(iii)
3,294 2,445 178
341 114 —
(iv)
1,100,000 — —
(III)
(i)
22 32
(ii)
30 34
360
二零二零年年度報告
2020 12 31
48.
(IV)
2020 2019
55,996 40,426
189 290
3,800 1,926
59,985 42,642
330 2019 403 14A
(2)
49.
2020
2,044,562 — — 2,044,562
529,085 — — 529,085
— 1,970,624 — 1,970,624
— — 18,570,598 18,570,598
— — 547,792 547,792
— — 994,141 994,141
— — 351,623 351,623
— — 4,637,290 4,637,290
— — 2,573,043 2,573,043
— — 31,403,056 31,403,056
36,118 — — 36,118
2,609,765 1,970,624 59,077,543 63,657,932
361
2020 12 31
49.
2020
— 28,515,789 28,515,789
— 1,171,320 1,171,320
— 554,930 554,930
— 2,804,953 2,804,953
— 34,825,007 34,825,007
— 3,668,911 3,668,911
153,961 — 153,961
153,961 71,540,910 71,694,871
2019
2,117,481 — — 2,117,481
37,435 — — 37,435
— 2,430,389 — 2,430,389
— — 22,597,886 22,597,886
— — 509,381 509,381
— — 826,308 826,308
— — 359,281 359,281
— — 6,272,321 6,272,321
— — 1,460,036 1,460,036
— — 28,505,800 28,505,800
106,065 — — 106,065
2,260,981 2,430,389 60,531,013 65,222,383
362
二零二零年年度報告
2020 12 31
49.
2019
— 27,728,550 27,728,550
— 1,165,502 1,165,502
— 510,882 510,882
— 3,507,388 3,507,388
— 36,783,112 36,783,112
— 2,117,396 2,117,396
126,223 — 126,223
126,223 71,812,830 71,939,053
50.
2020 12 31
363
2020 12 31
50.
EV/EBIT P/E
A—
2020 2019 12 31
2020 2019
% 4 ~ 10 4 ~ 10
% 30 30
P/E 7–43 13–67
EV 1–6 2–6
11–13 11–14
EV/EBIT
EV
EV/EBIT 10%
2020 12 31
173,164
EV EV/EBIT 10% 2020 12
31 62,229
364
二零二零年年度報告
2020 12 31
50.
2020 12 31
— 312,925 — 194,896 507,821
— — — 1,536,741 1,536,741
— 529,085 — 529,085
— 36,118 — 36,118
— 1,970,624 — 1,970,624
312,925 2,535,827 1,731,637 4,580,389
2019 12 31
— 116,220 — 407,007 523,227
— — — 1,594,254 1,594,254
— 37,435 — 37,435
— 106,065 — 106,065
— 2,430,389 — 2,430,389
116,220 2,573,889 2,001,261 4,691,370
365
2020 12 31
50.
2020 12 31
— (153,961) — (153,961)
2019 12 31
— (126,223) — (126,223)
2019
2020 2019
1 1 2,001,261 1,551,551
182,815 130,581
(466,942) (119,633)
172,895 545,721
27,840 4,793
(186,232) (111,752)
12 31 1,731,637 2,001,261
366
二零二零年年度報告
2020 12 31
51.
2020 12 31
1,444,040 2019
954,000 2020 12 31 2019
9.50% 2019 67%
*
2020 25 (78,851) —
(25) 78,851 —
2019 25 (14,294) —
(25) 14,294 —
*
367
2020 12 31
51.
%
2020
5% 103,279
(5%) (103,279)
5% 95,928
(5%) (95,928)
利
%
2019
5% 311,119
(5%) (311,119)
5% 121,445
(5%) (121,445)
368
二零二零年年度報告
2020 12 31
51.
12
31
2020 12 31
12
1 2 3
529,085 — — — 529,085
* — — — 9,237,256 9,237,256
* — — — 28,316,939 28,316,939
— ** 792,748 — — — 792,748
— ** — — 201,393 — 201,393
351,623 — — — 351,623
— 4,637,290 — — — 4,637,290
— 2,573,043 — — — 2,573,043
— 31,403,056 — — — 31,403,056
40,286,845 — 201,393 37,554,195 78,042,433
2019 12 31
12
1 2 3
37,435 — — — 37,435
* — — — 9,987,937 9,987,937
* — — — 35,766,089 35,766,089
— ** 827,135 — — — 827,135
— ** — — 239,310 — 239,310
359,281 — — — 359,281
— 6,272,321 — — — 6,272,321
— 1,460,036 — — — 1,460,036
— 28,505,800 — — — 28,505,800
37,462,008 — 239,310 45,754,026 83,455,344
* 22 28
**
369
2020 12 31
51.
23.69% 2019 26.12%
22
2020
1 1–2 2–3 3
— 11,774,360 10,296,451 12,992,217 427,572 35,490,600
— 453,134 428,583 211,222 276,437 1,369,376
17,151,733 11,364,056 — — — 28,515,789
— 239,672 150,365 63,440 102,182 555,659
2,804,953 — — — — 2,804,953
— 153,961 — — — 153,961
86,266 13,238 13,871 1,480,971 2,398,617 3,992,963
20,042,952 23,998,421 10,889,270 14,747,850 3,204,808 72,883,301
2019
1 1–2 2–3 3
— 27,337,474 2,254,612 7,894,790 40,753 37,527,629
— 520,208 105,225 238,741 553,593 1,417,767
18,355,610 9,372,940 — — — 27,728,550
— 348,866 94,745 39,913 27,358 510,882
3,507,388 — — — — 3,507,388
— 126,223 — — — 126,223
— 86,266 13,238 13,871 2,340,987 2,454,362
21,862,998 37,791,977 2,467,820 8,187,315 2,962,691 73,272,801
370
二零二零年年度報告
2020 12 31
51.
2020 12 31
2019 12 31
2020 12 31 2019 12 31
34,825,007 36,783,112
1,171,320 1,165,502
554,930 510,882
36,551,257 38,459,496
46,122,506 37,954,298
82,673,763 76,413,794
44.2% 50.3%
52.
(a)
386,044
386,044 2019 622,387 622,387
(b)
2019 12 31 36,783,112 1,165,502 310,024 200,858
(1,304,190) (490,551) (108,540) 152,588
— 386,044 — —
(653,915) (21,641) — —
— 123,295 — —
2020 12 31 34,825,007 1,162,649 201,484 353,446
371
2020 12 31
52.
(b)
2019
2018 12 31 27,349,891 500,812 — 591,931 434,137
16 — — 952,264 — —
2019 1 1 27,349,891 500,812 952,264 591,931 434,137
9,033,801 (500,812) (474,490) (281,907) (233,279)
— — 622,387 — —
399,420 — (15,920) — —
— — 81,261 — —
2019 12 31 36,783,112 — 1,165,502 310,024 200,858
(c)
2020 2019
(234,304) (330,496)
(346,687) 1,843,640
(490,551) (474,490)
(1,071,542) 1,038,654
53.
1. 2021 1 11
10.35
90%
90% 7.74
2. 2021 3 16 A
H 10 2 2020
2020
A H
372
二零二零年年度報告
2020 12 31
54.
2020 12 31 2019 12 31
6,422,353 5,872,237
1,888,298 2,101,919
1,955,041 1,976,772
1,600,000 1,562,380
17,679,712 15,844,624
184,948 84,948
445,176 767,133
706,117 725,125
928,704 2,226,569
305,062 200,671
2,244,139 1,063,838
2,953,557 2,928,810
2,030,344 1,820,744
39,343,451 37,175,770
18,444,527 19,692,914
5,180,041 4,460,977
19,779,132 24,893,537
1,864,477 1,980,798
178,443 230,035
43,774,467 35,650,197
35,995 103,889
1,028,959 1,781,520
2,367,808 1,187,200
20,002,193 10,032,692
112,656,042 100,013,759
373
2020 12 31
54.
2020 12 31 2019 12 31
57,855,036 49,098,798
10,202,939 9,347,162
19,732,691 26,639,119
1,568,818 1,786,167
8,140,608 11,814,902
197,843 224,489
180,055 230,323
140,982 115,811
52,354 44,177
225 225
98,071,551 99,301,173
14,584,491 712,586
53,927,942 37,888,356
16,931,479 7,550,990
310,588 200,858
144,250 144,505
218,235 337,764
2,091,999 3,242,788
19,696,551 11,476,905
34,231,391 26,411,451
4,613,435 4,227,530
(114,766) —
29,732,722 15,931,557
— 6,252,364
34,231,391 26,411,451
374
二零二零年年度報告
2020 12 31
54.
2020 1 1 10,414,702 290,356 1,931,371 (20,276) 3,315,404 6,252,364 22,183,921
2019 — — — — (922,687) — (922,687)
— — — 4,669 3,132,041 16,236 3,152,946
11,081,354 — — — — — 11,081,354
— — 235,705 — — — — 235,705
— 122,556 (46,908) — — — — 75,648
— — 192,952 — (192,952) — —
— — — — — (348,600) (348,600)
(80,000) — — — — (5,920,000) (6,000,000)
274,435 — — — — — 274,435
2020 12 31 21,813,047 479,153 2,124,323 (15,607) 5,331,806 — 29,732,722
2018 12 31 9,520,765 438,791 1,480,598 (19,656) (4,168,837) 6,252,364 13,504,025
— — (1,441) — 1,441 — —
2019 1 1 9,520,765 438,791 1,479,157 (19,656) (4,167,396) 6,252,364 13,504,025
(7,599) — — (620) 7,935,014 348,600 8,275,395
— — 191,790 — — — — 191,790
— 901,536 (340,225) — — — — 561,311
— — 452,214 — (452,214) — —
— — — — — (348,600) (348,600)
2019 12 31 10,414,702 290,356 1,931,371 (20,276) 3,315,404 6,252,364 22,183,921
2.4
55.
2021 3 16
375
2020
2020 12 31
(http://www.cninfo.com.cn)
2021 3 17
376