深圳市飞亚达(集团)股份有限公司2010 年第一季度季度报告全文
1
SHENZHEN FIYTA HOLDINGS LTD.
2010 1st Quarterly Report – Full Text
§1 Important
1.1 The Board of Directors, the Supervisory Committee, directors, supervisors and senior
executives of the Company hereby confirm that there are no important omissions, fictitious statements or
serious misleading information carried in this report, and shall take all responsibilities, individually and/or
jointly, for the authenticity, accuracy and completion of the whole contents.
1.2 The financial report of the first quarter has not been audited by the CPAs.
1.3 Mr. Wu Guangquan, the Chairman of the Board, Mr. Li Dehua, Chief Financial Officer and Mr. Hu Xinglong,
Manager of the Financial Department, hereby ensure the accuracy and completeness of the financial report enclosed in
this quarterly report.
§2 Company Information
2.1 Financial Highlights
In RMB
End of report period End of the previous year Increase/decrease ％
Total assets (RMB) 1,618,096,265.08 1,523,936,983.79 6.18%
Owners’ equity attributable to the Company’s
shareholders (RMB) 735,045,319.54 714,808,466.77 2.83%
Capital stock (shares) 249,317,999.00 249,317,999.00
Net assets per share attributable to the
Company’s shareholders (RMB/share) 2.95 2.87 2.83%
Report period Same period of the
previous year Increase/decrease (%)
Total operating income (RMB) 407,994,496.90 282,119,256.95 44.62%
Net profit attributable to the Company’s
shareholders (RMB) 20,239,688.08 10,494,800.25 92.85%
Net cash flow arising from operating activities
(RMB) 19,022,130.42 81,714,990.56 -76.72%
Net cash flow per share arising from
operating activities (RMB/share) 0.08 0.33 -76.72%
Basic earning per share ( RMB/share) 0.08 0.04 92.85%
Diluted earning per share (RMB/share) 0.08 0.04 92.85%
Net asset-income ratio, weighted average
(%) 2.79% 1.53% 1.26%
Net asset-income ratio, weighted average,
less the non-recurring gain and loss (%) 2.79% 1.52% 1.27%
Non-recurring gain/loss items
Amount from year
beginning to the end of the
report period
Other operating income and expenditures excluding the aforesaid items 62,191.06
Total 62,191.06
Note to the significant non-recurring gains and losses深圳市飞亚达(集团)股份有限公司2010 年第一季度季度报告全文
2
-
2.2 Unrestricted shares held by the top ten shareholders at the end of the report period
In shares
Total shareholders at the end of the report
period 21,118
Shareholding of the top ten shareholders of unrestricted negotiable shares
Full names of shareholders Number of unrestricted negotiable
shares held at the end of report period Categories
Industrial and Commercial Bank of China – E
Fund Value Based Growth Mixed Securities
Investment Fund
6,501,772 RMB ordinary shares (A shares)
BBH BOS S/A FIDELITY FD - CHINA
FOCUS FD 4,775,113 Foreign shares listed domestically (B
shares)
Industrial and Commercial Bank of China –
Huitianfu Even Growth Stock Type Securities
Investment Fund
4,000,070 RMB ordinary shares (A shares)
Industrial and Commercial Bank of China –
Huitianfu Growth Focus Stock Type
Securities Investment Fund
3,800,000 RMB ordinary shares (A shares)
China Construction Bank - ABN AMRO
TEDA Market Value Selected Stock
Securities Investment Fund
2,549,459 RMB ordinary shares (A shares)
Shanghai Jiayue Commercial Consulting
Co., Ltd. 2,522,459 RMB ordinary shares (A shares)
Wuxi Xinbaolian Investment Co., Ltd. 1,759,935 RMB ordinary shares (A shares)
China Construction Bank - Penghua
Prosperous Innovation Stock Fund (LOF) 1,699,900 RMB ordinary shares (A shares)
FIRST SHANGHAI SECURITIES CO., LTD. 1,356,548 Foreign shares listed domestically (B
shares)
Industrial and Commercial Bank of China –
UBS SDIC Growth Selected Stock Type
Securities Co., Ltd.
1,299,865 RMB ordinary shares (A shares)
§3 Significant Events
3.1 Main Items of Accounting Statements and Big Change in Financial Indicators
√ Applicable □ Inapplicable
(1) The monetary fund increased by RMB 35.22 million over the year beginning; short term bank loan newly increased by
RMB 50 million in the report year; at the same time, payment for the investment, expenditures of opening HARMONY Chain
Shops and costs for advertisement and promotion of the business department increased somewhat.
(2) Increase of total operating income by RMB 125.87 million over the previous year with growth rate of 44.62% was mainly
due to growth of sales.
(3) Increase of the net profit attributable to the Company by RMB 9.75 million over the previous year with growth rate of
92.85% was mainly due to growth of sales.
3.2 Progress of Significant Events, its Impacts and the Solutions
□ Applicable √ Inapplicable深圳市飞亚达(集团)股份有限公司2010 年第一季度季度报告全文
3
3.3 Implementation of the Commitments of the Company, the Shareholders and the Eventual
Controller
√ applicable □ non-applicable
Events of Commitment Accepter Description Implementation
Commitments for Equity Separation
Reform
Shenzhen
CATIC Group
1) Shenzhen CATIC
Group committed that
upon completion of the
equity separation
reform of FIYTA, the
non-negotiable shares
held by Shenzhen
CATIC Group would
not be listed with
Shenzhen Stock
Exchange for trading
within 36 months after
the day when such
shares got approved
for listing. (2) Within 24
months after the 3-year
sales restriction term
expires, in case
Shenzhen CATIC
Group would sell the
non-negotiable FIYTA
shares it was holding
through listing with
Shenzhen Stock
Exchange, the sales
price must not be lower
than RMB 25.00 per
share.
The commitment is in process of
implementation. Commencing from the
date when the equity separation reform
was finished to the end of the report
period, Shenzhen CATIC Group has not
reduced or assigned any restricted shares
held by Shenzhen CATIC Group.
Commitments for restricted shares - - -
Commitments in the acquisition report
or equity change report. - - -
Commitments in reorganization of
significant assets - - -
Commitments at the time of issuing - - -
Other commitments (with
supplementary commitments
inclusive)
- - -
3.4 Prediction of the possibility of the accumulated net profit from the year beginning to the end
of the next report period being of loss; or warning for big changes in the net profit in comparison
with the same period of the previous year and the reasons
□ Applicable √ Inapplicable
3.5 Other Important Matters Necessary to be Clarified
3.5.1 Securities Investment
□ applicable √ inapplicable深圳市飞亚达(集团)股份有限公司2010 年第一季度季度报告全文
4
3.5.2 Statement of such activities as reception of survey, communications, interviews in the
report period
Reception time Reception place Way of reception Visitors received Topics and information furnished
March 1, 2010 Company On-site survey
Galaxy Fund
Management Co.,
Ltd., ABN AMRO
TEDA Fund
Management Co.,
Ltd., SYWG BNP
Paris Asset
Management Co.,
Ltd., UBS SDIC
Fund Management
Co., Ltd.
Development trend of the domestic
luxury goods sector, some measures
concerning the Company’s strategic
development, brand construction,
terminal management in the past
three years. Provision of the
Company’s public brochures in 2009.
March 19, 2010 Company On-site survey
Da Cheng Fund
Management Co.,
Ltd.
Development trend of the domestic
luxury goods sector, some measures
concerning the Company’s strategic
development, brand construction,
terminal management in the past
three years. Provision of the
Company’s public brochures in 2009.
3.5.3 Notes to Other Significant Events
□ applicable √ inapplicable
3.6 Investment in Derivatives
□ applicable √ inapplicable
3.6.1 Holdings of Derivatives Invested at the End of the Report Period
□ applicable √ inapplicable
§4 Appendix
4.1 Balance Sheet
Prepared by: SHENZHEN FIYTA HOLDINGS LTD. March 31, 2010 In RMB
Ending balance Opening balance
Items
Consolidated Parent company: Consolidated Parent company:
Current assets:
Monetary funds 130,916,657.26 51,687,105.73 95,701,580.19 46,560,890.55
Settlement Reserve
Loans to other parties
Transactional financial
assets
Notes receivable
Accounts receivable 134,099,886.03 26,609,757.25 121,982,162.66 35,388,589.40
Advances to suppliers 8,524,511.17 9,635,501.76
Insurance premium payable深圳市飞亚达(集团)股份有限公司2010 年第一季度季度报告全文
5
Accounts receivable
reinsurance
Reserve for accounts
receivable reinsurance
Interest receivable
Dividend receivable 52,881,874.21 52,881,874.21
Other receivables 20,294,823.38 355,363,895.40 17,788,978.11 311,998,322.20
Reverse repurchase
agreements
Inventories 797,328,819.23 83,222,277.05 761,181,955.71 73,836,464.73
Non-current assets due
within a Year
Other current assets 2,055,731.42 3,214,514.17
Total current assets 1,093,220,428.49 569,764,909.64 1,009,504,692.60 520,666,141.09
Non-Current Assets:
Loan provision and
advances
Available-for-sale financial
assets
Held-to-due investment
Long term accounts
receivable
Long-term equity investment 1,921,317.92 354,429,317.92 1,921,317.92 354,429,317.92
Investment based real estate 170,028,727.95 170,028,727.95 171,577,646.00 171,577,646.00
Fixed assets: 257,000,911.28 243,180,954.01 259,762,029.76 246,256,473.81
Construction-in-progress
Engineering supplies
Disposal of fixed assets
Production based biologic
assets
Oil and gas asset
Intangible assets 13,233,120.40 12,407,959.76 13,476,895.15 12,614,912.03
Development expenses
Goodwill 6,240,816.14
Long-term expenses to be
apportioned 63,412,469.83 20,579,080.96 54,969,153.37 14,079,756.40
Asset of deferred income tax 13,038,473.07 3,553,212.40 12,725,248.99 3,553,212.40
Other non-current assets
Total non-current assets 524,875,836.59 804,179,253.00 514,432,291.19 802,511,318.56
Total assets 1,618,096,265.08 1,373,944,162.64 1,523,936,983.79 1,323,177,459.65
Current liabilities
Short-term Loan: 605,000,000.00 535,000,000.00 555,000,000.00 495,000,000.00
Borrowing from the Central
Bank
Deposit taking and due from
banks
Loan from bank
Transactional financial
liabilities
Notes payable深圳市飞亚达(集团)股份有限公司2010 年第一季度季度报告全文
6
Accounts payable 91,442,743.56 42,814,569.27 82,618,423.24 27,685,998.17
Advance receipts 3,222,571.68 2,393,838.63 2,012,363.70 1,302,325.64
Payment from sale of the
repurchased financial assets
Service charge and
commission receivable
Salaries Payable to Staff 6,786,709.69 300,000.00 15,503,449.35 6,462,650.00
Taxes payable 17,237,884.97 10,674,330.45 7,825,840.81 10,287,916.08
Interest payable 860,498.61 860,498.61 860,498.61 860,498.61
Dividends payable 584,110.90 584,110.90
Other payables 30,621,246.50 22,944,393.41 23,025,452.89 22,697,269.81
Accounts receivable
reinsurance
Insurance contract reserve
Acting trading securities
Acting underwriting
securities
Non-current Liabilities due
within a Year
Other current liabilities 1,280,329.28
Total current liabilities 755,755,765.91 614,987,630.37 688,710,468.78 564,296,658.31
Non-Current Liabilities:
Long-term borrowings 90,000,000.00 90,000,000.00 90,000,000.00 90,000,000.00
Bonds payable
Long term accounts payable 10,302,782.22 3,500,000.00
Special accounts payable
Predicted liabilities
Liabilities of deferred income
tax 106,989.94 106,989.94 106,989.94 106,989.94
Other non-current liabilities 6,400,000.00 5,900,000.00 6,400,000.00 5,900,000.00
Total non-current liabilities 106,809,772.16 96,006,989.94 100,006,989.94 96,006,989.94
Total liabilities 862,565,538.07 710,994,620.31 788,717,458.72 660,303,648.25
Owners’ equity (or
shareholders’ equity):
Paid up capital (or capital
stock) 249,317,999.00 249,317,999.00 249,317,999.00 249,317,999.00
Capital reserve 191,847,232.65 191,847,232.65 191,847,232.65 191,847,232.65
Less: shares in stock
Special reserve
Surplus reserve 115,946,088.88 115,946,088.88 115,946,088.88 115,946,088.88
General provision for risk
Retained earnings 178,816,777.92 105,838,221.80 158,577,089.84 105,762,490.87
Cumulative translation
adjustments -882,778.91 -879,943.60
Total owner’s equity
attributable to the parent
company
735,045,319.54 662,949,542.33 714,808,466.77 662,873,811.40
Minority shareholders’ equity 20,485,407.47 20,411,058.30
Total owners’ equity 755,530,727.01 662,949,542.33 735,219,525.07 662,873,811.40深圳市飞亚达(集团)股份有限公司2010 年第一季度季度报告全文
7
Total liabilities and owners’
equity 1,618,096,265.08 1,373,944,162.64 1,523,936,983.79 1,323,177,459.65
4.2 Profit Statement
Prepared by: SHENZHEN FIYTA HOLDINGS LTD. Jan to Mar, 2010 In RMB
Amount in the report period Amount in the previous period
Items
Consolidated Parent company Consolidated Parent company
I. Total operating income 407,994,496.90 73,153,214.09 282,119,256.95 62,800,246.00
Including: Operating income 407,994,496.90 73,153,214.09 282,119,256.95 62,800,246.00
Interest income
Earned premium
Service charge and
commission income
II. Total operating costs 382,318,166.73 73,074,354.04 268,750,958.92 63,036,129.85
Including: Operating costs 287,270,260.71 34,603,451.01 190,048,990.92 27,055,069.99
Interest expense
Service charge and
commission
Surrender value
Net payment per claim
Net provision for
insurance contract
Expenditures dividend
policy
Reinsurance expense
Business tax and
surcharges 1,596,037.95 1,062,445.67 1,294,243.87 1,026,890.59
Sales expenses 53,803,594.56 23,020,404.68 42,383,888.56 18,916,052.79
Administrative expenses 29,383,814.09 10,581,363.18 24,866,199.10 11,482,605.18
Financial expenses 10,264,459.42 3,806,689.50 10,157,636.47 4,555,511.30
Loss from impairment of
assets
Plus: Income from change in
fair value (loss stated with “-“)
Return on investment
(loss stated with “-“)
Including: Investment
income in associates and joint
ventures
Exchange income (loss
stated with “-“)
III. Profit from businesses (loss
stated with “-“) 25,676,330.17 78,860.05 13,368,298.03 -235,883.85
Plus: Non-operating income 134,630.16 38,619.04 58,026.45 49,381.30
Less: Non-operating
expenses 72,439.10 17,863.66 2,617.47 1,617.47
Including: Loss from
disposal of non-current assets 17,527.99 17,527.99
IV. Total Profit (total loss stated
with “-“) 25,738,521.23 99,615.43 13,423,707.01 -188,120.02深圳市飞亚达(集团)股份有限公司2010 年第一季度季度报告全文
8
Less: Income tax expenses 5,427,673.16 23,884.50 2,729,646.34
V. Net Profit (loss stated with
“-“) 20,310,848.07 75,730.93 10,694,060.67 -188,120.02
Net profit attributable to
the owner of the parent
company
20,239,688.08 75,730.93 10,494,800.25 -188,120.02
Minority shareholders’
gain/loss 71,159.99 199,260.42
VI. Earnings per share:
(I) Basic earnings per
share 0.08 0.04
(II) Diluted earnings per
share 0.08 0.04
VII. Other comprehensive
earnings
VIII. Total comprehensive
earnings 20,310,848.07 75,730.93 10,694,060.67 -188,120.02
Total comprehensive
income attributable to the
parent company’s owner
20,239,688.08 75,730.93 10,494,800.25 -188,120.02
Total comprehensive
income attributable to the
minority shareholders
71,159.99 199,260.42
4.3 Cash Flow Statement
Prepared by: SHENZHEN FIYTA HOLDINGS LTD. Jan to Mar, 2010 In RMB
Amount in the report period Amount in the previous period
Items
Consolidated Parent company Consolidated Parent company
I. Net cash flows arising from
operating activities:
Cash received from sales
of goods and supply of labor 461,956,131.18 90,838,022.95 332,831,363.29 65,195,104.61
Net increase of the
customers’ deposit and amount
from banks
Net increase of borrowing
from the central bank
Net increase of borrowing
from other financial institutions
Cash received from the
premium of the original
insurance contract
Cash received from the
reinsurance business, net
Increase of the reserve
from policy holders and
investment, net
Increase from disposal of
transactional financial assets,
net
Cash from collection of
interest, service charge and
commission
Increase of loan from深圳市飞亚达(集团)股份有限公司2010 年第一季度季度报告全文
9
other banks, net
Increase of fund from
repurchase business, net
Rebated taxes received 623,119.27 623,119.27
Other cash in connection
with operation activities as
received
6,269,755.77 770,476.73 401,367.40 53,486,216.00
Subtotal of cash flow in
from operating activities 468,849,006.22 92,231,618.95 333,232,730.69 118,681,320.61
Cash paid for purchase of
goods and reception of labor
services
348,772,513.70 29,286,504.49 165,409,913.05 17,129,720.48
Net increase of loans and
advances to the customers
Net increase of amounts
due from the central bank and
other banks
Cash from payment for
settlement of the original
insurance contract
Cash for payment of
interest, service charge and
commission
Cash for payment of policy
dividend
Cash paid to and for staff 48,969,841.36 21,418,956.78 41,254,041.21 19,040,353.30
Taxes paid 20,732,539.37 5,353,308.84 12,583,507.26 6,548,138.76
Other operation related
cash payments 31,351,981.37 53,099,952.49 32,270,278.61 13,487,239.14
Subtotal of cash flow out
from operating activities 449,826,875.80 109,158,722.60 251,517,740.13 56,205,451.68
Net cash flow
generated from operating
activities
19,022,130.42 -16,927,103.65 81,714,990.56 62,475,868.93
II. Cash flows arising from
investment activities:
Cash received from
recovery of investment
Cash received from
investment income
Net amount of cash
received from disposal of fixed
assets, intangible assets and
other long term assets
1,800.00 1,700.00 1,700.00
Net cash received from
disposal of subsidiaries and
other operating units
Other investment related
cash receipts 331.45
Subtotal of cash flow in
from investment activities 1,800.00 1,700.00 2,031.45
Cash paid for
construction/purchase of fixed
assets, intangible assets and
other long term assets
17,588,296.63 10,568,253.67 11,099,313.86 474,719.00
Cash paid for investment 7,924,498.24深圳市飞亚达(集团)股份有限公司2010 年第一季度季度报告全文
10
Net increase of
hypothecated loans
Net cash paid by
subsidiaries and other
operating units
Other investment related
cash payments
Subtotal of cash flow out
from investment activities 25,512,794.87 10,568,253.67 11,099,313.86 474,719.00
Net cash flow arising
from investment activities -25,510,994.87 -10,566,553.67 -11,097,282.41 -474,719.00
III. Cash flows arising from
fund raising activities:
Cash received from
absorption of investment
Incl.: Cash received from
absorption of minority
shareholders’ investment
Cash received from
borrowings 355,000,000.00 345,000,000.00 140,000,000.00 140,000,000.00
Cash received from bond
issuing
Other fund raising related
cash receipts 30,000,000.00
Subtotal of cash flow in
from fund-raising activities 355,000,000.00 345,000,000.00 170,000,000.00 140,000,000.00
Cash paid for liabilities
repayment 305,000,000.00 305,000,000.00 180,000,000.00 180,000,000.00
Cash paid for
dividend/profit distribution or
repayment of interest
8,238,661.80 7,380,127.50 9,089,757.50 9,089,757.50
Incl.: Dividend and profit
paid by the subsidiaries to
minority shareholders
Other fund raising related
cash payments 307,666.66
Subtotal of cash flow out
from fund-raising activities 313,238,661.80 312,380,127.50 189,397,424.16 189,089,757.50
Net cash flow arising
from fund-raising activities 41,761,338.20 32,619,872.50 -19,397,424.16 -49,089,757.50
IV. Amount involved in change
of exchange rate influencing
the cash and cash equivalent
-57,396.68
V. Net increase of cash and
cash equivalents 35,215,077.07 5,126,215.18 51,220,283.99 12,911,392.43
Plus: Opening balance of
cash and cash equivalents 95,701,580.19 46,560,890.55 108,233,795.73 54,938,436.99
VI. Ending balance of cash and
cash equivalents 130,916,657.26 51,687,105.73 159,454,079.72 67,849,829.42
4.4 Auditor’s Report
Auditor’s Opinion: Unaudited.
