Q1 2024 Report of FIYTA Precision Technology Co., Ltd.
Stock codes: 000026, 200026 Stock abbreviations: FIYTA, FIYTA B Announcement No.: 2024-019
FIYTA Precision Technology Co., Ltd.
Q1 2024 Report
The Company and the Board of Directors ensure that the information disclosed is truthful, accurate, and complete,
with no false records, misleading statements, or significant omissions.
Key content tips:
1. The Board of Directors, the Board of Supervisors, and the directors, supervisors, and senior management
guarantee the truthfulness, accuracy, and completeness of the quarterly report, with no false records, misleading
statements, or significant omissions, and bear individual and joint legal responsibility.
2. The person in charge of the Company, the CFO, and the Financial Manager (Accounting Supervisor) declare to
ensure that the financial information in the quarterly report is truthful, accurate, and complete.
3. Whether the Q1 report has been audited
No
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Q1 2024 Report of FIYTA Precision Technology Co., Ltd.
I. Key Financial Data
(I) Main accounting data and financial indicators
Does the Company need to retrospectively adjust or restate previous years' accounting data?
No
Change in the current
The current reporting reporting period compared
Same period last year
period to the same period last
year
Operating revenue (RMB) 1,065,150,876.00 1,200,095,568.76 -11.24%
Net profit attributable to
shareholders of the listed 75,499,096.30 103,189,489.23 -26.83%
company (RMB)
Net profit attributable to
shareholders of the listed
company excluding non- 69,755,955.88 95,484,229.79 -26.95%
recurring gains and losses
(RMB)
Net cash flow from
-964,281.20 80,169,964.00 -101.20%
operating activities (RMB)
Basic earnings per share
0.1828 0.2505 -27.03%
(RMB/share)
Diluted earnings per share
0.1825 0.2505 -27.15%
(RMB/share)
Weighted average return
2.24% 3.23% -0.99%
on equity
Change at the end of the
End of the current reporting current reporting period
End of the previous year
period compared to the end of the
previous year
Total assets (RMB) 4,136,305,356.14 4,204,260,897.08 -1.62%
Owner's equity attributable
to shareholders of the 3,403,636,152.70 3,333,805,752.19 2.09%
listed company (RMB)
(II) Non-recurring gains and losses items and amounts
Unit: RMB
Amount for the current reporting
Item Explanation
period
Loss/gain on disposal of non-current
assets (including reversal of 2,949,209.65
provision for asset impairment)
Government grants recognized in
current profit and loss (excluding
those closely related to the
Company's normal operations, in
compliance with national policies, 1,066,372.66
entitled in accordance with set
standards, and having a sustained
impact on the Company's profit and
loss)
Reversal of provision for impairment 3,194,562.55
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Q1 2024 Report of FIYTA Precision Technology Co., Ltd.
of receivables subject to individual
impairment testing
Other operating incomes and
320,045.62
expenses excluding the above items
Less: Income tax impact 1,787,050.06
Total 5,743,140.42 --
Specific circumstances of other items that meet the definition of non-recurring gains and losses
Not applicable
Explanation of circumstances where items listed as non-recurring gains and losses in Explanatory Announcement No.
1 on Information Disclosure of Companies Issuing Securities Publicly - Non-recurring Gains and Losses are classified
as recurring
Not applicable
(III) Changes in main accounting data and financial indicators and reasons
1. Consolidated Balance sheet items
Ending Beginning Change
Item Reason for change
balance balance ratio
Mainly due to an increase in prepayments for
Prepayments
12,091,024.86 6,571,239.98 84.00% branded watches and movements during the
(RMB)
reporting period.
Other current Mainly due to a decrease in input VAT to be
48,674,518.61 72,249,391.81 -32.63%
assets (RMB) credited during the reporting period.
Contract Mainly due to an increase in advance receipts for
18,783,506.42 12,286,243.62 52.88%
liabilities (RMB) the watch business during the reporting period.
Accrued payroll Mainly due to the payment of year-end bonuses
67,971,231.21 120,084,810.60 -43.40%
(RMB) during the reporting period.
2. Consolidated cash flow statement items
Amount
Current
incurred in Change
Item amount Reason for change
the previous ratio
incurred
period
Net cash flow
Mainly due to decrease in sales revenue leading
from operating -964,281.20 80,169,964.00 -101.20%
to decrease in cash receipts.
activities (RMB)
II. Shareholder Information
(I) Total number of common shareholders and number of preferred shareholders with restored
voting rights, and the top ten shareholders' shareholding details
Unit: Shares
Total number of preferred shareholders with
Total number of common shareholders
28,557 restored voting rights at the end of the reporting 0
at the end of the reporting period
period (if any)
Top ten shareholders' shareholding details (excluding shares lent through refinancing)
Share Number of Pledge, marking or freezing
Nature of Number of
Shareholder name holdin restricted Status of
shareholder shares held Quantity
g ratio shares held shares
AVIC International State-owned 39.25
162,977,327 0 Not applicable 0
Holding Co., Ltd. legal person %
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Q1 2024 Report of FIYTA Precision Technology Co., Ltd.
Domestic
#Wu Jilin natural 4.10% 17,043,827 0 Not applicable 0
person
Domestic
Xu Guoliang natural 1.60% 6,623,168 0 Not applicable 0
person
Domestic
Qiu Hong natural 0.60% 2,510,000 0 Not applicable 0
person
Domestic
#Zhu Rui natural 0.47% 1,969,100 0 Not applicable 0
person
Domestic
#Qu Yongjie natural 0.32% 1,330,000 0 Not applicable 0
person
Domestic
#Ge Zhongwei natural 0.29% 1,195,700 0 Not applicable 0
person
Domestic
Chen Hao natural 0.27% 1,101,643 0 Not applicable 0
person
Industrial and
Commercial Bank of
China Ltd. - GF CSI
State-owned Other 0.26% 1,065,800 0 Not applicable 0
Enterprises Innovation
Shareholder Return
ETF
Domestic
#Zhu Xian natural 0.25% 1,032,540 0 Not applicable 0
person
Top 10 unrestricted shareholders
Type of shares
Shareholder name Number of unrestricted shares held Type of
Quantity
shares
Aviation Industry International Holdings RMB ordinary
162,977,327 162,977,327
Co., Ltd. shares
RMB ordinary
#Wu Jilin 17,043,827 17,043,827
shares
RMB ordinary
Xu Guoliang 6,623,168 6,623,168
shares
RMB ordinary
Qiu Hong 2,510,000 2,510,000
shares
RMB ordinary
#Zhu Rui 1,969,100 1,969,100
shares
RMB ordinary
#Qu Yongjie 1,330,000 1,330,000
shares
RMB ordinary
#Ge Zhongwei 1,195,700 1,195,700
shares
RMB ordinary
Chen Hao 1,101,643 1,101,643
shares
Industrial and Commercial Bank of
China Co., Ltd. - GF China Reform RMB ordinary
1,065,800 1,065,800
State-owned Enterprises Shareholder shares
Return ETF
RMB ordinary
#Zhu Xian 1,032,540 1,032,540
shares
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Q1 2024 Report of FIYTA Precision Technology Co., Ltd.
Explanation of the aforementioned shareholders' The Company is unaware of whether the aforementioned 10
association or concerted action shareholders are related or constitute concerted actors.
1. Shareholder Wu Jilin holds 10,363,377 shares through a
regular securities account and 6,680,450 shares through a margin
trading collateral securities account, totaling 17,043,827 shares;
2. Shareholder Zhu Rui holds 217,100 shares through a regular
securities account and 1,752,000 shares through a margin trading
collateral securities account, totaling 1,969,100 shares;
3. Shareholder Qu Yongjie holds 59,000 shares through a regular
Explanation of the top 10 shareholders'
securities account and 1,271,000 shares through a margin trading
participation in securities margin trading (if any)
collateral securities account, totaling 1,330,000 shares;
4. Shareholder Ge Zhongwei holds 695,700 shares through a
regular securities account and 500,000 shares through a margin
trading collateral securities account, totaling 1,195,700 shares;
5. Shareholder Zhu Xian holds 25,000 shares through a regular
securities account and 1,007,540 shares through a margin trading
collateral securities account, totaling 1,032,540 shares.
Note: The Company's B-share repurchase account 'Special Securities Account for Repurchase of FIYTA Precision
Technology Co., Ltd.' held 9,355,763 ordinary shares at the end of the reporting period, accounting for 2.25% of the
shares, mainly due to the Company's ongoing B-share repurchase. According to regulations, this repurchase account
is not included in the list of the top 10 shareholders.
Participation of shareholders holding more than 5%, the top 10 shareholders, and the top 10 shareholders of unlimited
outstanding shares in securities margin trading
Not applicable
Changes in the top 10 shareholders, and the top 10 shareholders of unlimited outstanding shares due to securities
margin trading compared to the previous period
Not applicable
(II) Total number of preferred shareholders and the top 10 preferred shareholders' holdings
Not applicable
III. Other Important Matters
1. Matters related to the 2018 A-share Restricted Stock Incentive Plan (Phase II)
Due to the resignation of one of the original incentive recipients of the 2018 A-share Restricted Stock Incentive
Plan (Phase II), the Company's 18th meeting of the 10th Board of Directors and 2023 Annual General Meeting of
Shareholders approved the repurchase and cancellation of 10,020 A-share restricted stocks that had been granted to
the above person but not yet lifted from restriction, and the creditors were notified as required. For details, please refer
to the announcements disclosed by the Company on the CNINFO website on March 14, 2024, and April 19, 2024,
titled Announcement on the Repurchase and Cancellation of Part of the Restricted Stocks in the 2018 A-share
Restricted Stock Incentive Plan (Phase II) (2024-012) and Announcement on the Notification to Creditors Regarding
the Repurchase and Cancellation of Part of the Restricted Stocks and Reduction of Registered Capital (2024-017).
2. Matters related to the repurchase of a portion of domestic listed foreign shares (B-shares)
The Company's 11th meeting of the 10th Board of Directors and the 2022 Annual General Meeting of
Shareholders approved the Plan for the Repurchase of a Portion of Domestic Listed Foreign Shares (B-shares), and
subsequently disclosed the repurchase report and a series of progress announcements in accordance with relevant
regulations. As of March 31, 2024, the Company has cumulatively repurchased 9,355,763 B-shares through a
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Q1 2024 Report of FIYTA Precision Technology Co., Ltd.
dedicated securities account via centralized bidding, with a total payment of HKD 70,401,771.17 (excluding transaction
fees). For detailed information, please refer to the relevant progress announcements disclosed on the CNINFO
network by the Company.
IV. Quarterly Financial Statements
(I) Financial statements
1. Consolidated balance sheet
Prepared by: FIYTA Precision Technology Co., Ltd.
As of March 31, 2024
Unit: RMB
Item Ending balance Beginning balance
Current assets:
Monetary funds 429,133,282.84 504,629,153.71
Settlement reserve funds
Lent funds
Trading financial assets
Derivative financial assets
Notes receivable 20,594,022.65 18,268,972.37
Accounts receivable 354,145,988.29 323,142,761.64
Financing receivables
Prepayments 12,091,024.86 6,571,239.98
Premiums receivables
Reinsurance receivables
Reinsurance contract reserves
receivable
Other receivables 60,537,703.59 57,725,792.00
Including: Interest receivable
Dividends receivable
Redemptory monetary capital for
sale
Inventories 2,105,364,158.13 2,100,666,175.28
Including: Data resources
Contractual assets
Held-for-sale assets
Non-current assets due within one
year
Other current assets 48,674,518.61 72,249,391.81
Total current assets 3,030,540,698.97 3,083,253,486.79
Non-current assets:
Loans and advances granted
Creditor's rights investments
Other creditor's rights investments
Long-term receivables
Long-term equity investments 51,862,607.30 51,862,607.30
Other equity instrument
investments
Other non-current financial assets
Investment properties 356,332,335.03 360,255,832.14
Fixed assets 350,300,461.08 355,785,354.68
Construction in progress
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Q1 2024 Report of FIYTA Precision Technology Co., Ltd.
Productive biological assets
Oil and gas assets
Right-of-use assets 117,158,264.76 109,452,481.64
Intangible assets 30,943,165.32 31,664,380.77
Including: Data resources
Development expenditure
Including: Data resources
Goodwill
Long-term deferred and prepaid
117,584,444.96 122,324,355.13
expenses
Deferred income tax assets 76,660,088.04 80,227,771.46
Other non-current assets 4,923,290.68 9,434,627.17
Total non-current assets 1,105,764,657.17 1,121,007,410.29
Total assets 4,136,305,356.14 4,204,260,897.08
Current liabilities:
Short-term borrowings 220,161,455.54 250,187,763.87
Borrowings from central bank
Borrowed funds
Trading financial liabilities
Derivative financial liabilities
Notes payable
Accounts payable 125,762,415.94 173,825,907.71
Advance receipts 10,666,111.71 10,267,758.31
Contract liabilities 18,783,506.42 12,286,243.62
Sale of repurchase financial assets
Deposits received and interbank
placements
Securities trading on behalf of
clients
Securities underwriting on behalf of
clients
Accrued payroll 67,971,231.21 120,084,810.60
Taxes payable 46,708,918.01 64,188,161.31
Other payables 116,997,760.78 121,937,801.07
Including: Interest payable
Dividends payable 2,058,352.24 2,058,352.24
Commissions and charges payable
Reinsurance payables
Held-for-sale liabilities
Non-current liabilities due within
73,110,348.05 66,399,004.20
one year
Other current liabilities 2,200,377.15 1,589,635.30
Total current liabilities 682,362,124.81 820,767,085.99
Non-current liabilities:
Insurance contract reserves
Long-term borrowings
Bonds payable
Including: preferred stock
Perpetual bonds
Lease liabilities 43,953,095.24 43,526,352.52
Long-term payables
Long-term payroll payable
Accrued liabilities
Deferred income 952,785.69 952,785.69
Deferred income tax liabilities 5,401,197.70 5,208,920.69
Other non-current liabilities
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Q1 2024 Report of FIYTA Precision Technology Co., Ltd.
Total non-current liabilities 50,307,078.63 49,688,058.90
Total liabilities 732,669,203.44 870,455,144.89
Owners' equity:
Share capital 415,219,970.00 415,219,970.00
Other equity instruments
Including: preferred stock
Perpetual bonds
Capital reserve 990,648,535.27 990,159,033.17
Less: Treasury stock 78,645,532.23 78,645,532.23
Other comprehensive incomes 12,860,627.91 19,325,335.93
Special reserve 3,529,668.19 3,223,158.06
Surplus reserve 275,010,401.50 275,010,401.50
General risk provision
Undistributed profits 1,785,012,482.06 1,709,513,385.76
Total owners' equity attributable to
3,403,636,152.70 3,333,805,752.19
the parent company
Minority equity
Total owners' equity 3,403,636,152.70 3,333,805,752.19
Total liabilities and owners' equity 4,136,305,356.14 4,204,260,897.08
Legal Representative: Zhang Xuhua CFO: Song Yaoming Financial Manager: Tian Hui
2. Consolidated income statement
Unit: RMB
Item Amount in the current period Amount in the previous period
I. Total operating revenue 1,065,150,876.00 1,200,095,568.76
Including: Operating revenue 1,065,150,876.00 1,200,095,568.76
Interest income
Earned premiums
Charge and commission
income
II. Total operating costs 974,432,726.28 1,070,094,479.27
Including: Operating costs 678,091,040.35 767,722,882.96
Interest expenses
Charge and commission
expenses
Surrender value
Net payments for insurance
claims
Net change in insurance
contract reserves
Policyholder dividend
expenses
Reinsurance expenses
Taxes and surcharges 6,383,389.41 7,087,405.97
Sales expenses 225,628,850.97 228,113,224.28
Management expenses 45,467,020.50 48,007,102.03
Research and development
14,435,086.78 13,175,703.59
expenses
Financial expenses 4,427,338.27 5,988,160.44
Including: Interest 2,503,202.83 2,990,967.60
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Q1 2024 Report of FIYTA Precision Technology Co., Ltd.
expenses
Interest income 1,021,252.43 873,024.53
Plus: Other income 1,740,510.64 2,825,263.25
Investment income (losses
indicated with "-")
Including: Income from
investments in associates and joint
ventures
Income from
derecognition of financial assets
measured at amortized cost
Foreign exchange gains
(losses indicated with "-")
Net exposure hedging gains
(losses indicated with "-")
Gains on changes in fair value
(losses indicated with "-")
Impairment loss on credit
2,979,316.13 -240,194.86
(losses indicated with "-")
Impairment loss on assets
(losses indicated with "-")
Gain on disposal of assets
2,949,209.65 -73,523.67
(losses indicated with "-")
III. Operating profit (losses indicated
98,387,186.14 132,512,634.21
with "-")
Plus: Non-operating income 340,407.61 480,647.98
Less: Non-operating expenses 20,361.99 221,408.98
IV. Total profit (total losses indicated
98,707,231.76 132,771,873.21
with "-")
Less: Income tax expense 23,208,135.46 29,582,383.98
V. Net profit (net losses indicated
75,499,096.30 103,189,489.23
with "-")
(I) Classified by business continuity
1. Net profit from continuing
operations (net loss indicated with "- 75,499,096.30 103,189,489.23
")
2. Net profit from discontinued
operations (net loss indicated with "-
")
(II) Classified by ownership
1. Net profit attributable to
75,499,096.30 103,189,489.23
owners of the parent company
2. Minority shareholders' gains
and losses
VI. Net amount of other
-6,464,708.02 -2,489,066.77
comprehensive income after tax
Net amount of other
comprehensive income after tax
-6,464,708.02 -2,489,066.77
attributable to owners of the parent
company
(I) Other comprehensive income
not to be reclassified to profit or loss
1. Changes in remeasurement
of defined benefit plan
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Q1 2024 Report of FIYTA Precision Technology Co., Ltd.
2. Other comprehensive
income from equity investments not
to be reclassified to profit or loss
3. Changes in fair value of
other equity instrument investments
4. Changes in fair value due to
own credit risk
5. Others
(II) Other comprehensive income
-6,464,708.02 -2,489,066.77
to be reclassified to profit or loss
1. Other comprehensive
income from equity investments to be
reclassified to profit or loss
2. Changes in fair value of
other creditor's rights investments
3. Amounts reclassified to
other comprehensive income from
reclassification of financial assets
4. Credit impairment
provisions for other creditor's rights
investments
5. Cash flow hedge reserves
6. Translation difference in
-6,464,708.02 -2,489,066.77
foreign currency financial statements
7. Other
Net amount of other
comprehensive income after tax
attributable to minority shareholders
VII. Total comprehensive income 69,034,388.28 100,700,422.46
Total comprehensive income
attributable to owners of the parent 69,034,388.28 100,700,422.46
company
Total comprehensive income
attributable to minority shareholders
VIII. Earnings per share:
(I) Basic earnings per share 0.1828 0.2505
(II) Diluted earnings per share 0.1825 0.2505
Legal Representative: Zhang Xuhua CFO: Song Yaoming Financial Manager: Tian Hui
3. Consolidated cash flow statement
Unit: RMB
Item Amount in the current period Amount in the previous period
I. Cash flows from operating
activities:
Cash received from sales of goods
1,147,315,290.57 1,268,572,542.49
and rendering of services
Net increase in customer deposits
and interbank placements
Net increase in borrowings from
the central bank
Net increase in funds borrowed
from other financial institutions
Cash received from premiums of
original insurance contracts
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Q1 2024 Report of FIYTA Precision Technology Co., Ltd.
Net cash received from
reinsurance business
Net increase in policyholder
deposits and investment funds
Cash received from interest,
charges, and commissions
Net increase in borrowed funds
Net increase in cash from
repurchase transactions
Net cash received from securities
brokerage
Tax refunds 837,925.87 612,797.28
Cash received from other
10,555,854.88 14,811,953.04
operating activities
Subtotal of cash inflows from
1,158,709,071.32 1,283,997,292.81
operating activities
Cash paid for goods and services 809,254,741.34 848,501,717.56
Net increase in loans and
advances to customers
Net increase in deposits with
central bank and other banks
Cash paid for claims under original
insurance contracts
Net increase in lent funds
Cash paid for interest, charges,
and commissions
Cash paid for policy dividends
Cash paid to employees and for
199,231,956.37 197,287,320.08
employees
Taxes paid 70,531,590.40 69,642,205.23
Other cash payments related to
80,655,064.41 88,396,085.94
operating activities
Subtotal of cash outflows from
1,159,673,352.52 1,203,827,328.81
operating activities
Net cash flow from operating
-964,281.20 80,169,964.00
activities
II. Cash flows from investment
activities:
Cash received from investment
recovery
Cash received from investment
income
Net cash received from disposal of
fixed assets, intangible assets, and 4,740,975.47 858.16
other long-term assets
Net cash received from disposal of
subsidiaries and other business units
Cash received related to other
investment activities
Subtotal of cash inflows from
4,740,975.47 858.16
investment activities
Cash paid for acquisition of fixed
assets, intangible assets, and other 19,071,569.91 13,729,006.77
long-term assets
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Q1 2024 Report of FIYTA Precision Technology Co., Ltd.
Cash paid for investments
Net increase in pledged loans
Net cash paid for acquisition of
subsidiaries and other business units
Cash paid related to other
investment activities
Subtotal of cash outflows from
19,071,569.91 13,729,006.77
investment activities
Net cash flow from investment
-14,330,594.44 -13,728,148.61
activities
III. Cash flows from financing
activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholders' investments in
subsidiaries
Cash received from borrowings 120,000,000.00 150,000,000.00
Cash received from other financing
activities
Subtotal of cash inflows from
120,000,000.00 150,000,000.00
financing activities
Cash paid for debt repayment 150,000,000.00 150,000,000.00
Cash paid for dividends and profits
1,442,427.78 4,779,458.02
distribution, or interest payments
Including: Dividends or profits
paid to minority shareholders of
subsidiaries
Cash paid for other financing
28,716,692.97 26,933,476.33
activities
Subtotal of cash outflows from
180,159,120.75 181,712,934.35
financing activities
Net cash flow from financing
-60,159,120.75 -31,712,934.35
activities
IV. Effect of exchange rate changes
-41,874.48 -380,351.54
on cash and cash equivalents
V. Net increase in cash and cash
-75,495,870.87 34,348,529.50
equivalents
Plus: Beginning balance of cash
504,629,153.71 313,747,463.64
and cash equivalents
VI. Ending balance of cash and cash
429,133,282.84 348,095,993.14
equivalents
Legal Representative: Zhang Xuhua CFO: Song Yaoming Financial Manager: Tian Hui
(II) Adjustment of items related to the financial statements at the beginning of
the year when the new accounting standards are implemented for the first time
since 2024
Not applicable
(III) Auditors' Report
Whether the Q1 report has been audited
No
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Q1 2024 Report of FIYTA Precision Technology Co., Ltd.
FIYTA Precision Technology Co., Ltd.
Board of Directors
April 25, 2024
13
