2023 Annual Report, Summary
of FIYTA Precision Technology Co., Ltd.
Stock Code: 000026;200026 Abbreviation of the Stock: FIYTA;FIYTA B Announcement No.: 2024-008
FIYTA Precision Technology Co., Ltd.
2023 Annual Report, Summary
I. Important Notice
This summary of the Annual Report is quoted out of the full text of the Annual Report. Investors desirous to understand entirely the
Company's operation results, financial position and future development planning are advised to carefully read the full text of the
Annual Report which is published in the medium designated by CSRC.
All the directors attended the board meeting for reviewing the Annual Report.
Indication of qualified audit opinion
Inapplicable
The profit distribution preplan or the preplan for conversion of reserve into capital for the reporting period reviewed by the Board of
Directors
Is there any public reserve converted into capital stock
No
Reviewed and approved by the Board of Directors , the Company's profit distribution preplan is summarized as follows: based on the
total share capital as at the date of record (with the shares in the special securities account for repurchase deducted) when the profit
distribution plan is implemented in the future, the Company is going to distribute dividend to all the shareholders at the rate of
CNY4.00 for every 10 shares (with the tax inclusive), 0 bonus shares (with the tax inclusive),and no public reserve shall be converted
into share capital.
Profit Distribution Preplan for Preferred Shares during the Reporting Period Approved by the Resolution of the Board of Directors
Inapplicable
This report is prepared in both Chinese and English versions. If there is any ambiguity in understanding the report, the Chinese
version shall prevail.
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2023 Annual Report, Summary
of FIYTA Precision Technology Co., Ltd.
II. Company Profile
1. Company Information
Short form of the stock: FIYTA and FIYTA B Stock Code 000026 and 200026
Stock Exchange Listed with Shenzhen Stock Exchange
Stock abbreviation before
None
change (if any)
Liaison Persons and
Secretary of the Board Securities Affairs Representative
Communication Information
Names Song Yaoming Xiong Yaojia
20th Floor, FIYTA Technology Building, 18th Floor, FIYTA Technology Building,
Office Address Gaoxin S. Road One, Nanshan District, Gaoxin S. Road One, Nanshan District,
Shenzhen Shenzhen
Fax 0755-83348369 0755-83348369
Tel. 0755-86013669 0755-86013669
Email investor@fiyta.com.cn investor@fiyta.com.cn
2. Summary of the Principal Business or Leading Products during the Reporting Period
（1）Main businesses engaged by the Company during the reporting period
The Company's establishment and development originated from aviation precision technology and material technology.
Adhering to the values of "brand leadership, customer orientation, value creation, cooperation and responsibility, and learning and
innovation", with the mission of "inheriting the spirit of serving the country by aviation and creating a quality life", it focuses on the
watch industry and forms a core business layout where its self-owned watch brand and the retail channel of famous watches promote
each other. In addition, the Company actively explores and cultivates new businesses such as precision technology and smart
wearables, and is in a stage of continuous development.
The Company is deeply committed to professional watchmaking capacity building and brand operation, and has multiple self-
owned brands such as "FIYTA" and "EMILE CHOORIET", covering different dimensions such as mid to high end, mass professional,
and fashion cool. Among them, the core self-owned brand positioning of "FIYTA" is "a high-quality Chinese watch brand with
aviation and aerospace watches as its characteristic", adhering to the concept of "nation" as the core and "trendy" as the form,
continuously creating differentiated characteristics, and upgrading to "youthfulness, high-end, and mainstream"; At the same time, it
continuously increases investment in technological innovation fields such as movement and aviation technology applications, relying
on the advantages of aviation technology and aerospace quality, and continuously provide professional timing watches for China's
aerospace industry, gradually establishing a leading position in the domestic industry and expanding our brand influence.
In order to seize the opportunities in the domestic watch market and promote the long-term development of its self-own brand,
the Company has established the "Harmony" watch retail channel. "Harmony" is committed to becoming the best comprehensive
service provider for luxury watches, and has long-term and in-depth cooperation with numerous watch groups and brands. It has
honed industry-leading operational management and customer service capabilities, and has become a leading professional
commercial brand in high-end chain for luxury watches in China.
In recent years, the Company has adhered to the development principle of "technology sharing the same origin, industry sharing
the same roots, and value sharing the same direction". With the strength of precision technology and industrial accumulation, the
Company has extended and expanded its precision technology business and smart wearable business, and has now begun to take
shape.
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2023 Annual Report, Summary
of FIYTA Precision Technology Co., Ltd.
（2）Industry conditions of the Company during the reporting period
In 2023, the National Bureau of Statistics announced a YoY GDP growth of 5.2%. Driven by policies such as expanding
domestic demand and promoting consumption, coupled with the growth of household income, the driving force of consumption on
economic growth continues to increase, gradually becoming the main driving force of economic growth.
The domestic watch consumption market is still under overall pressure due to the diversion of Hong Kong and some overseas
regions, as well as the rationalization of consumer preferences. Among them, the middle and high-end watch consumer market is
facing periodic fluctuations. According to the data released by the Swiss Watch Association, the cumulative amount of Swiss exports
to Chinese Mainland increased by about 8% YoY, and Chinese Mainland is still the second largest consumer market of Swiss watches;
The consumer market for mid to low-end watches is still sluggish, with fierce competition in segmented fields. In an uncertain
economic environment, the differentiation of watch brands is further highlighted. Brands with high reputation, differentiated
characteristics, and quality services have stronger consumer resilience.
The Company's main watch business covers medium, high, and fashion brands, with multiple types of channels complementing
each other. It continues to attach importance to investment in brand differentiation, channel operation, customer service, and other
aspects. Faced with market fluctuations, the main business maintains a healthy development trend as a whole.
3. Summary of Accounting/Financial Data
(1) Summary of Accounting/Financial Data in the Past Three Years
Does the Company need to make retroactive adjustment or restatement of the accounting data of the previous years
No
In CNY
Changes compared to
2023 2022 the previous year in 2021
this year
Operating revenue
4,569,690,002.99 4,354,096,880.36 4.95% 5,243,733,540.93
(RMB)
Net profit attributable
to shareholders of the 333,178,102.37 266,681,451.84 24.93% 387,840,282.95
listed company (RMB)
Net profit attributable
to shareholders of the
listed company after
316,806,208.13 249,791,455.73 26.83% 369,418,754.83
deducting non
recurring gains and
losses (RMB)
Net cash flows from
operating activities 632,401,487.98 476,228,776.52 32.79% 547,249,108.45
(RMB)
Basic earnings per
0.8082 0.6398 26.32% 0.9036
share (RMB/share)
Diluted earnings per
0.8075 0.6398 26.21% 0.9036
share (RMB/share)
Weighted average ROE 10.28% 8.68% 1.60% 13.39%
Changes at the end of
At the end of 2023 At the end of 2022 At the end of 2021
this year compared to
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2023 Annual Report, Summary
of FIYTA Precision Technology Co., Ltd.
the end of the previous
year
Total assets (RMB) 4,204,260,897.08 4,117,143,911.99 2.12% 4,110,579,952.49
Net assets attributable
to shareholders of the 3,333,805,752.19 3,136,423,492.15 6.29% 3,013,232,642.53
listed company (RMB)
(2) Major Accounting Data Based on Quarters
In CNY
Q1 Q2 Q3 Q4
Operating revenue 1,200,095,568.76 1,164,409,693.80 1,162,738,360.51 1,042,446,379.92
Net profit attributable
to shareholders of the 103,189,489.23 84,205,578.00 78,162,925.58 67,620,109.56
listed company
Net profit attributable
to shareholders of the
listed company after
95,484,229.79 81,868,313.87 75,522,620.72 63,931,043.75
deducting non
recurring gains and
losses
Net cash flows from
80,169,964.00 264,489,879.62 134,414,639.49 153,327,004.87
operating activities
Are the above financial indicators or their totals significantly different from the financial indicators disclosed by the Company in the
quarterly and semi-annual reports?
No
4. Capital Stock and Shareholders
(1) Number of the common shareholders and preferred shareholders whose voting rights are restored and shareholding by the
top 10 shareholders
In shares
Total
number of
common
Total number of
sharehold
preferred Total number of preferred
Total number ers at the
shareholders shareholders with restored
of common end of the
with voting rights at the end of
shareholders previous
28,145 28,183 restored voting 0 the previous month prior 0
at the end of month
rights at the end to the disclosure date of
the reporting prior to
of the reporting the annual report (if any)
period the
period (if any) (see Note 8)
disclosure
(see Note 8)
date of the
annual
report
Shareholdings of shareholders holding more than 5% or the top 10 shareholders (excluding shares lent through refinancing)
Number of Changes during Number Number of Situations of
Name of Nature of Holding
shares held at the reporting of shares held pledge, marking
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2023 Annual Report, Summary
of FIYTA Precision Technology Co., Ltd.
Shareholders shareholders ratio the end of the period shares with unlimited or freezing
reporting held sales
period with conditions
limited Quanti
sales Share
ty
conditio status
ns
AVIC
Not
International State-owned
39.25% 162,977,327 0 0 162,977,327 applicab 0
Holding legal person
le
Limited
Domestic Not
#Wu Jilin natural 4.35% 18,043,627 98,013 0 18,043,627 applicab 0
persons le
Domestic Not
#Xu Guoliang natural 1.74% 7,242,768 1,978,000 0 7,242,768 applicab 0
persons le
Domestic Not
Qiu Hong natural 0.59% 2,470,000 100,000 0 2,470,000 applicab 0
persons le
Domestic Not
#Zhu Rui natural 0.34% 1,407,100 -295,500 0 1,407,100 applicab 0
persons le
CITIC
Not
Securities State-owned
0.33% 1,368,078 1,248,109 0 1,368,078 applicab 0
Company legal person
le
Limited
Domestic Not
#Qu Yongjie natural 0.31% 1,286,800 20,000 0 1,286,800 applicab 0
persons le
Industrial and
Commercial
Bank of China
Not
Ltd. - GF CSI
Other 0.29% 1,212,700 1,212,700 0 1,212,700 applicab 0
Guoxin
le
Central-SOEs
Shareholder
Return ETF
Domestic Not
Chen Hao natural 0.27% 1,101,643 12,700 0 1,101,643 applicab 0
persons le
China
Construction
Bank
Corporation -
Not
China
Other 0.26% 1,071,900 1,071,900 0 1,071,900 applicab 0
Universal CSI
le
Guoxin
Central-SOEs
Shareholder
Return ETF
Explanation on associated relationship or consistent The Company is unaware of whether the 10 shareholders mentioned above
action of the above shareholders have any related relationships or are concerted actors.
1. In addition to holding 10,597,777 shares through the ordinary securities
Explanation of the participation of the top 10
account, shareholder Wu Jilin also holds 7,445,850 shares through the
common shareholders in the margin trading and
customer credit trading guarantee securities account of China CICC Wealth
securities lending business (if any)
Management Securities Company Limited, totaling 18,043,627 shares;
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2023 Annual Report, Summary
of FIYTA Precision Technology Co., Ltd.
2. In addition to holding 6,640,868 shares through the ordinary securities
account, shareholder Xu Guoliang also holds 601,900 shares through the
customer credit trading guarantee securities account of Guosen Securities Co.,
Ltd., totaling 7,242,768 shares;
3. In addition to holding 62,000 shares through the ordinary securities account,
shareholder Zhu Rui also holds 1,345,100 shares through the customer credit
trading guarantee securities account of First Capital Securities Co., Ltd.,
totaling 1,407,100 shares;
4. In addition to holding 42,800 shares through the ordinary securities account,
shareholder Qu Yongjie also holds 1,244,000 shares through the customer
credit trading guarantee securities account of Shanxi Securities Company
Limited, totaling 1,286,800 shares.
Top 10 shareholders participating in the lending of shares through refinancing business
Not applicable
Changes in the top 10 shareholders compared to the previous period
Unit: shares
Changes in the top 10 shareholders compared to the end of the previous period
New Number of shares held in the ordinary
addition Number of shares lent through account and credit account of
s/exits refinancing and not yet repaid at shareholders, as well as the shares
Name of Shareholders (Full Name) during the end of the period lent through refinancing and not yet
this repaid at the end of the period
reportin Total Proportion to the Proportion to the
g period Total quantity
quantity total share capital total share capital
New
CITIC Securities Company Limited 0 0.00% 1,368,078 0.33%
addition
Industrial and Commercial Bank of China
New
Ltd. - GF CSI Guoxin Central-SOEs 0 0.00% 1,212,700 0.29%
addition
Shareholder Return ETF
China Construction Bank Corporation -
New
China Universal CSI Guoxin Central- 0 0.00% 1,071,900 0.26%
addition
SOEs Shareholder Return ETF
Li Shuyuan Exit 0 0.00% 811,500 0.20%
Zhang Mingrong Exit 0 0.00% 0 0.00%
Lv Shaowen Exit 0 0.00% 0 0.00%
(2) Total Preference Shareholders and the Shareholding by the Top 10 Preference Shareholders
Inapplicable
(3) Block Diagram of the Ownership and Control Relations between the Company and the Actual Controller
Block diagram of property rights and control relationship between the Company and the actual controller
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2023 Annual Report, Summary
of FIYTA Precision Technology Co., Ltd.
5. Status of Bonds Existing on the Date of Approval of the Annual Report
Inapplicable
III. Significant Events
1. Repurchase some domestically listed foreign shares (B Shares)
At the 11th Meeting of the 10th Board of Directors and the 2022 Annual General Meeting, the Company approved the Program
on the Repurchase of Some Domestically Listed Foreign Shares (B Shares), and subsequently disclosed the repurchase report and a
series of progress announcements in accordance with relevant regulations. As of December 31, 2023, the Company has cumulatively
repurchased 9,355,763 shares of B shares through a special repurchase securities account through centralized bidding, with a total
amount paid of HKD 70,401,771.17 (excluding transaction fees). For details, please refer to the relevant progress announcements
disclosed by the Company on CNINF.
2. Change of business scope and revision of the Articles of Association
After deliberation and approval by the 13th Meeting of the 10th Board of Directors and the 1st Extraordinary General Meeting in
2023, the Company has decided to expand its business scope, adjust the standardized expression of the existing business scope, and
revise the corresponding provisions of the Articles of Association based on the changed business scope. For details, please refer to the
Announcement on the Resolutions of the 13th Meeting of the 10th Board of Directors 2023-025, Announcement on Changing the
Business Scope and Amending the Articles of Association 2023-027, and Announcement on Resolutions of the 1st Extraordinary
General Meeting 2023-031, which were disclosed by the Company on May 16, 2023 and June 1, 2023 on CNINF.
3. Capital increase to wholly-owned subsidiaries
At the 14th Meeting of the 10th Board of Directors, the Company approved the Proposal on Capital Increase to Wholly-owned
Subsidiary Shenzhen FIYTA Precision Technology Co., Ltd., and decided to increase the capital of its wholly-owned subsidiary
Shenzhen FIYTA Precision Technology Co., Ltd. by RMB 80 million. For details, please refer to the Announcement on Capital
Increase to Wholly-owned Subsidiary Shenzhen FIYTA Precision Technology Co., Ltd. 2023-047 and Announcement on Completion
of Industrial and Commercial Change Registration for Capital Increase of Wholly-owned Subsidiary 2023-059 disclosed by the
Company on August 23, 2023 and December 1, 2023 on CNINF.
FIYTA Precision Technology Co., Ltd.
Board of Directors
March 14, 2024
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