FIYTA Precision Technology Co., Ltd. 2023 First Quarter Report
Stock Code: 000026; 200026 Abbreviation of the Stock: FIYTA; FIYTA B Announcement No.: 2023-023
FIYTA Precision Technology Co., Ltd.
2023 First Quarter Report
The Company and all members of the Board of Directors ensure that the information disclosed is authentic, accurate
and complete, and there are no false records, misleading statements or significant omissions.
Important Notice:
1. The Board of Directors, the Supervisory Committee, directors, supervisors and senior executives hereby individually
and collectively accept responsibility for the correctness, accuracy and completeness of the contents of this Report
and confirm that there are neither material omissions nor errors which would render any statement misleading.
2. The Company leader, the chief financial officer, and the manager of the accounting department (treasurer) hereby
confirm the authenticity, accuracy and completeness of the financial report enclosed in this Quarter Report.
3. Has the First Quarter Report been audited
No
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FIYTA Precision Technology Co., Ltd. 2023 First Quarter Report
I. Financial Highlights
(I) Summary of Accounting/Financial Data
Does the Company need to make retroactive adjustment or restatement of the accounting data of the previous year
No
Year-on-year increase/decrease in the
Same period of the previous
Reporting period reporting period over the same period
year
of the previous year (%)
Revenue in CNY 1,200,095,568.76 1,173,700,720.94 2.25%
Net profit attributable to the
Company’s shareholders, in 103,189,489.23 86,354,073.76 19.50%
CNY
Net profit attributable to the
Company’s shareholders less 95,484,229.79 84,104,404.06 13.53%
the non-recurring items, in CNY
Net cash flows arising from
80,169,964.00 16,020,422.02 400.42%
operating activities, in CNY
Basic earning per share
0.2505 0.2083 20.26%
(CNY/share)
Diluted earning per share
0.2505 0.2083 20.26%
(CNY/share)
Return on equity, weighted
3.23% 2.84% 0.39%
average
Increase/decrease at the end of the
End of the reporting
End of the previous year year over the end of the previous year
period
(%)
Total assets (in CNY) 4,100,025,213.23 4,117,143,911.99 -0.42%
Owner’s equity attributable to
the Company’s shareholders, in 3,252,796,335.91 3,136,423,492.15 3.71%
CNY
(II) Non-recurring gain/loss items and the amounts involved
In CNY
Amount in the
Items Notes
reporting period
Gain/loss from disposal of non-current assets, including the part
-73,523.67
written-off with the provision for impairment of assets.
The government subsidies included in the profits and losses of the
current period ( (excluding government grants which are closely
2,825,263.25
related to the Company’s normal business and conform with the
national standard amount or quantity)
Reversal of provision for impairment of accounts receivable that
968,041.01
has been separately tested for impairment
Other non-operating income and expenses with the aforesaid items
259,239.00
exclusive
Other gains and losses in compliance with the definition of non- Offsetting of the equity incentive expense
5,904,091.45
recurring gains and losses. with the unlocking condition unsatisfied.
Less: Amount affected by the income tax 2,177,851.60
Total 7,705,259.44
Details of other gains and losses in compliance with the definition of non-recurring gains and losses.
Inapplicable
Explanation on defining the non-recurring gains and losses listed in the Explanatory Announcement No.1 on
Information Disclosure for Companies Offering their Securities to the Public as recurring gains and losses
Inapplicable
(III) Statement of Change in the Major Accounting Data and Financial Indicators and the Causes
1.Balance sheet items
Percentage of
Items Ending balance Opening balance Cause of the change
change
Advance Mainly due to increase of the advance payment for purchase of
12,511,922.87 8,039,794.97 55.62%
payments drive units and raw materials during the reporting period.
Mainly due to decrease in advance receipts from the property
Advance receipts 10,651,706.80 16,960,128.83 -37.20%
business.
Payroll payable to Mainly due to the year-end bonus paid already during the
95,190,163.89 136,587,939.38 -30.31%
employees reporting period.
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FIYTA Precision Technology Co., Ltd. 2023 First Quarter Report
2. Profit Statement Items
Amount incurred in Amount incurred in the Percentage of
Items Cause of the change
the reporting period previous period change
Interest Mainly due to a decrease in loan interest and amortization interest
2,990,967.60 5,184,394.84 -42.31%
expenses on lease liabilities.
Other income 2,825,263.25 4,320,020.38 -34.60% Mainly due to the decrease of government subsidies received.
II. Information of the Shareholders
(I) Total number of the common shareholders and preferred shareholders whose voting rights are restored
and shares held by the top 10 shareholders
In shares
Total common shareholders at the Total preference shareholders with the voting power recovered at
34,163 0
end of the reporting period the end of the reporting period (if any)
Shareholding by top 10 shareholders
Shareholdin Number of the Pledging, marking or freezing
Names of the Nature of the Number of shares
g proportion restricted shares
Shareholders shareholder held Status of the shares Quantity
(%) held
AVIC
International State corporate 39.02% 162,977,327 0.00
Holding Limited
Domestic natural
# Wu Jilin 3.99% 16,657,976 0.00
person
Domestic natural
Xu Guoliang 1.04% 4,333,668 0.00
person
Domestic natural
Qiu Hong 0.59% 2,470,000 0.00
person
Guoxin
Investment Co., State legal entity 0.58% 2,441,500 0.00
Ltd.
China Merchants
Foreign legal
Securities (HK) 0.31% 1,294,817 0.00
entity
Co., Limited
Domestic natural
# Qu Yongjie 0.30% 1,266,800 0.00
person
Domestic natural
#Zhu Rui 0.29% 1,229,700 0.00
person
Domestic natural
Chen Hao 0.26% 1,079,243 0.00
person
# Zhang Domestic natural
0.24% 1,022,200 0.00
Mingrong person
Shares held by top 10 shareholders of unrestricted shares
Share type
Names of the Shareholders Quantity of unrestricted shares held
Share type Quantity
CNY ordinary
AVIC International Holding Limited 162,977,327 162,977,327
shares
CNY ordinary
# Wu Jilin 16,657,976 16,657,976
shares
CNY ordinary
Xu Guoliang 4,333,668 4,333,668
shares
CNY ordinary
Qiu Hong 2,470,000 2,470,000
shares
CNY ordinary
Guoxin Investment Co., Ltd. 2,441,500 2,441,500
shares
Domestic listed
China Merchants Securities (HK) Co.,
1,294,817 foreign investment 1,294,817
Limited
shares
CNY ordinary
# Qu Yongjie 1,266,800 1,266,800
shares
CNY ordinary
#Zhu Rui 1,229,700 1,229,700
shares
CNY ordinary
Chen Hao 1,079,243 1,079,243
shares
CNY ordinary
# Zhang Mingrong 1,022,200 1,022,200
shares
Explanation on associated relationship or consistent The Company has no idea on whether the above 10 shareholders are associated or
action of the above shareholders are acting in concert.
1. In addition to the 9,825,624 shares held through the ordinary securities account,
Wu Jilin, one of the shareholders of the Company, also holds 6,832,352 shares
through the credit transaction guarantee securities account. Therefore, Wu Jilin is
Note to the top 10 shareholders involved in margin actually holding 16,657,976 shares;
financing & securities lending (if any) 2. In addition to the 22,800 shares held through the ordinary securities account, Qu
Yongjie, one of the shareholders of the Company, also holds 1,244,000 shares
through the credit transaction guarantee securities account. Therefore, Qu Yongjie is
actually holding 1,266,800 shares;
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FIYTA Precision Technology Co., Ltd. 2023 First Quarter Report
3. In addition to the 92,000 shares held through the ordinary securities account, Zhu
Rui, one of the shareholders of the Company, also holds 1,137,700 shares through
the credit transaction guarantee securities account. Therefore, Zhu Rui is actually
holding 1,229,700 shares;
4. In addition to the 0 shares held through the ordinary securities account, Zhang
Mingrong, one of the shareholders of the Company, also holds 1,022,200 shares
through the credit transaction guarantee securities account. Therefore, Zhang
Mingrong is actually holding 1,022,200 shares;
(II) Total Preference Shareholders and the Shareholding by the Top 10 Preference Shareholders
Inapplicable
III. Note to other significant events
1. Matters in Connection with 2018 Restricted A-Share Incentive Scheme (Phase I)
Reviewed and approved at the 10th session of the Tenth Board of Directors, the Company satisfied the conditions for
releasing the trading restriction in the third trading restriction release period of the Company's 2018 Restricted Stock
Incentive Scheme (Phase I) and the 1.16232 million restricted A-shares involved were listed for trading on January 31,
2023. For the details, please refer to the "Indicative Announcement on the Listing of the Restricted Shares for Trading
of the Third Trading Restriction Release Period in the 2018 A-Share Restricted Stock Incentive Scheme (Phase I)
2023-002” disclosed in http://www.cninfo.com.cn.
2. Matters in Connection with 2018 Restricted A-Share Incentive Scheme (Phase II)
Reviewed and approved at the 10th session of the Tenth Board of Directors, the Company satisfied the conditions for
releasing the trading restriction in the first trading restriction release period of the Company's 2018 A-Share Restricted
Stock Incentive Scheme (Phase II) and the 2.27439 million restricted A-shares involved were listed for trading on
January 31, 2023. For the details, please refer to the "Indicative Announcement on the Listing of the Restricted Shares
for Trading of the First Trading Restriction Release Period in the 2018 A-Share Restricted Stock Incentive Scheme
(Phase II) 2023-001” disclosed in http://www.cninfo.com.cn.
Reviewed and approved at the 11th session of the Tenth Board of Directors, as four of the incentive grantees in the
incentive scheme left their offices, the Company intended to repurchase and cancel a total of 146,740 restricted A-
shares in their hands which had been granted to them but had not been released from the trading restrictions; as the
conditions for releasing the trading restriction in the second trading restriction release period of the Incentive Scheme
had not yet been satisfied, the Company intended to handle the repurchase and cancellation of the shares with the
conditions for releasing the trading restriction unsatisfied held by 120 incentive grantees with a total of 2,201,130
shares involved. The above matter still need to be submitted to 2022 Annual General Meeting for review and approval.
For the details, please refer to the "Indicative Announcement on Repurchase and Cancellation of Partial Restricted
Shares in the 2018 A-Share Restricted Stock Incentive Scheme (Phase II) 2023-013” and the “Announcement on the
Conditions for Releasing the Trading Restriction of the Second Trading Restriction Release Period in the 2018 A-
Share Restricted Stock Incentive Scheme (Phase II) Unsatisfied and Repurchase and Cancellation of Partial
Restricted Shares 2023-014” disclosed in http://www.cninfo.com.cn.
3. Repurchase of Partial Domestically Listed Foreign Investment Shares (B-Shares)
Reviewed and approved at the 11th session of the Tenth Board of Directors, the Company intended to use its own
funds of no less than CNY 50 million but no more than CNY 100 million to repurchase 6.66 million to 13.32 million B-
shares by means of the centralized bidding transaction for deregistration and reduction of the registered capital. This
matter still needs to be submitted to the 2022 Annual General Meeting for review and approval. For the detail, please
refer to the “Proposal for Repurchasing Partial Domestically Listed Foreign Investment Shares (B-Shares) as
Repurchased and the Change of the Company’s Shares 2023-015”disclosed in http://www.cninfo.com.cn on March 18,
2023.
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FIYTA Precision Technology Co., Ltd. 2023 First Quarter Report
IV. Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by FIYTA Precision Technology Co., Ltd.
March 31, 2023
In CNY
Items Ending balance Opening balance
Current assets:
Monetary capital 348,095,993.14 313,747,463.64
Settlement reserve
Inter-bank lending
Transactional financial assets
Derivative financial assets
Notes receivable 23,746,911.51 32,214,912.10
Accounts receivable 368,140,156.62 305,290,959.68
Financing with accounts receivable
Advance payment 12,511,922.87 8,039,794.97
Receivable premium
Reinsurance accounts receivable
Reserve for reinsurance contract
receivable
Other receivables 58,383,934.76 56,918,019.48
Including: Interest receivable
Dividends receivable
Redemptory monetary capital for
sale
Inventories 2,090,175,263.42 2,141,320,373.67
Contract assets
Held-for-sale assets
Non-current assets due within a
year
Other current assets 51,062,882.89 66,339,505.32
Total current assets 2,952,117,065.21 2,923,871,028.86
Non-current assets:
Loan issuing and advance in cash
Equity investment
Other equity investment
Long term accounts receivable
Long-term equity investments 58,182,086.90 58,182,086.90
Investment in other equity
85,000.00 85,000.00
instruments
Other non-current financial assets
Investment-oriented real estate 371,059,873.30 374,979,494.71
Fixed assets 359,287,572.07 364,628,765.17
Construction-in-progress
Productive biological asset
Oil and Gas Assets
Use right assets 92,504,408.52 110,330,512.03
Intangible assets 32,251,415.40 33,200,218.63
Development expenses
Goodwill
Long term expenses to be
129,941,028.99 144,488,452.18
apportioned
Deferred income tax asset 92,849,263.82 95,784,611.94
Other non-current assets 11,747,499.02 11,593,741.57
Total non-current assets 1,147,908,148.02 1,193,272,883.13
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FIYTA Precision Technology Co., Ltd. 2023 First Quarter Report
Total assets 4,100,025,213.23 4,117,143,911.99
Current liabilities:
Short term borrowings 290,224,736.11 290,237,111.11
Borrowings from the central bank
Loans from other banks
Transactional financial liabilities
Derivative financial liabilities
Notes payable 2,000,600.00 2,000,600.00
Accounts payable 124,137,573.10 170,589,456.67
Advance receipts 10,651,706.80 16,960,128.83
Contract liabilities 14,956,720.71 16,844,437.47
Money from sale of the
repurchased financial assets
Deposits taking and interbank
placement
Acting trading securities
Income from securities
underwriting on commission
Payroll payable to employees 95,190,163.89 136,587,939.38
Taxes payable 64,283,879.12 60,770,168.30
Other payables 142,432,724.66 165,060,122.58
Including: interest payable
Dividends payable 3,423,458.72 6,324,013.97
Service charge and commission
payable
Payable reinsurance
Held-for-sale liabilities
Non-current liabilities due within a
60,494,208.97 71,546,316.16
year
Other current liabilities 1,902,319.63 1,686,806.01
Total current liabilities 806,274,632.99 932,283,086.51
Non-current liabilities:
Reserve for insurance contract
Long-term borrowings
Bonds payable
Including: preferred shares
Perpetual bond
Lease liabilities 34,335,209.12 41,642,561.58
Long-term accounts payable
Long term payroll payable to
employees
Estimated liabilities
Deferred income 1,295,926.80 1,295,926.80
Deferred income tax liability 5,323,108.41 5,498,844.95
Other non-current liabilities
Total non-current liabilities 40,954,244.33 48,437,333.33
Total liabilities 847,228,877.32 980,720,419.84
Owner’s equity:
Capital stock 417,627,960.00 417,627,960.00
Other equity instruments
Including: preferred shares
Perpetual bond
Capital reserve 1,002,934,806.10 1,007,086,643.48
Less: shares in stock 31,260,789.45 50,759,806.16
Other comprehensive income 3,250,523.12 5,739,589.89
Special reserve 2,337,306.88 2,012,064.91
Surplus reserve 275,010,401.50 275,010,401.50
Reserve against general risks
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FIYTA Precision Technology Co., Ltd. 2023 First Quarter Report
Retained earnings 1,582,896,127.76 1,479,706,638.53
Total owners’ equity attributable to
3,252,796,335.91 3,136,423,492.15
the parent company
Minority shareholders’ equity
Total owner’s equity 3,252,796,335.91 3,136,423,492.15
Total liabilities and owners’ equity 4,100,025,213.23 4,117,143,911.99
Legal representative: Zhang Xuhua Chief Financial Officer: Song Yaoming Person in charge of the Accounting
Department: Tian Hui
2. Consolidated Profit Statement
In CNY
Amount incurred in the reporting Amount incurred in the previous
Items
period period
I. Turnover 1,200,095,568.76 1,173,700,720.94
Including: operating income 1,200,095,568.76 1,173,700,720.94
Interest income
Earned insurance premium
Service charge and
commission income
II. Total operating costs 1,070,094,479.27 1,065,454,948.14
Including: Operating costs 767,722,882.96 725,288,861.90
Interest payment
Service charge and
commission payment
Surrender Value
Compensation expenses,
net
Provision of reserve for
insurance liabilities, net
Payment of policy dividend
Reinsurance expenses
Taxes and surcharges 7,087,405.97 6,623,183.80
Sales costs 228,113,224.28 257,444,571.92
Administrative expenses 48,007,102.03 55,399,290.60
R & D expenditures 13,175,703.59 12,984,545.64
Financial expenses 5,988,160.44 7,714,494.28
Where: Interest cost 2,990,967.60 5,184,394.84
Interest income 873,024.53 750,842.75
Plus: Other income 2,825,263.25 4,320,020.38
Investment income (loss is
stated with “-”)
Including: return on
investment in associate and joint
venture
Gain from the
derecognition of the financial assets
measured at amortised cost
Exchange income (loss stated
with “-“)
Net exposure hedge income
(loss stated with “-“)
Income from change of fair
value (loss is stated with “-”)
Loss from impairment of credit
-240,194.86 29,964.40
(loss is stated with “-”)
Loss from impairment of
assets (loss is stated with “-”)
Income from disposal of -73,523.67 -729,742.09
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FIYTA Precision Technology Co., Ltd. 2023 First Quarter Report
assets (loss is stated with “-“)
III. Operating Profit (loss is stated
132,512,634.21 111,866,015.49
with “-”)
Plus: Non-operating income 480,647.98 73,317.70
Less: Non-operating expenses 221,408.98 769,784.25
IV. Total profit (total loss is stated with
132,771,873.21 111,169,548.94
“-”)
Less: Income tax expense 29,582,383.98 24,815,475.18
V. Net Profit (net loss is stated with “-
103,189,489.23 86,354,073.76
”)
(I) Classification based on
operation sustainability
1. Net Profit from sustainable
103,189,489.23 86,354,073.76
operation (net loss is stated with “-”)
2. Net Profit from termination of
operation (net loss is stated with “-”)
(II) Classification by ownership
1. Net profit attributable to the
103,189,489.23 86,354,073.76
parent company’s owner
2. Minority shareholders’
gain/loss
VI. Net of other comprehensive
-2,489,066.77 -48,552.58
income after tax
Net of other comprehensive
income after tax attributable to the -2,489,066.77 -48,552.58
parent company’s owner
(I) Other comprehensive income
which cannot be re-classified into
gain and loss
1. Remeasurement of the
change amount in the defined benefit
plan
2. Other comprehensive
income which cannot be converted
into gain and loss based on the
equity method
3. Movement of the fair value
of the investment in other equity
instruments
4. Movement of the fair value
of the Company’s own credit risk
5. Others
(II) Other comprehensive income
which shall be re-classified into gain -2,489,066.77 -48,552.58
and loss
1. Other comprehensive
income which can be converted into
gain and loss based on the equity
method
2. Movement of the fair value
of other creditor’s right investment
3. Amount of the reclassified
financial assets counted to the other
comprehensive income
4. Provision for impairment of
the credit of the other creditor's right
investment
5. Reserve for cash flow
hedge
6. Conversion difference in
-2,489,066.77 -48,552.58
foreign currency statements
7. Others
Net amount of other
comprehensive income after tax
attributable to minority shareholders
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FIYTA Precision Technology Co., Ltd. 2023 First Quarter Report
VII. Total comprehensive income 100,700,422.46 86,305,521.18
Total comprehensive income
attributable to the parent company’s 100,700,422.46 86,305,521.18
owner
Total comprehensive income
attributable to minority shareholders
VIII. Earnings per share:
(I) Basic earnings per share 0.2505 0.2083
(II) Diluted earnings per share 0.2505 0.2083
Legal representative: Zhang Xuhua Chief Financial Officer: Song Yaoming Person in charge of the Accounting
Department: Tian Hui
3. Consolidated Cash Flow Statement
In CNY
Amount incurred in the reporting Amount incurred in the previous
Items
period period
I. Cash flows arising from operating
activities:
Cash received from sales of goods
1,268,572,542.49 1,341,476,147.74
and supply of services
Net increase of customers’ deposit
and due from banks
Net increase of borrowings from
the central bank
Net increase of borrowings from
other financial institutions
Cash received from the premium of
the original insurance contract
Net cash received from the
reinsurance business
Net increase of the reserve from
policy holders and investment
Cash received from interest,
service charge and commission
Net increase of loan from other
banks
Net increase of fund from
repurchase business
Net cash received from securities
trading on commission
Rebated taxes received 612,797.28 448,081.85
Other operation activity related
14,811,953.04 13,508,738.54
cash receipts
Subtotal of cash flow in from
1,283,997,292.81 1,355,432,968.13
operating activity
Cash paid for purchase of goods 848,501,717.56 950,732,002.36
and reception of labor services
Net increase of loans and
advances to customers
Net increase of due from central
bank and due from other banks
Cash from payment for settlement
of the original insurance contract
Net increase of the lending capital
Cash paid for interest, service
charge and commission
Cash for payment of policy
dividend
Cash paid to and for staff 197,287,320.08 234,412,020.13
Taxes paid 69,642,205.23 69,645,546.92
Other business activity related 88,396,085.94 84,622,976.70
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FIYTA Precision Technology Co., Ltd. 2023 First Quarter Report
cash payments
Subtotal of cash flow out from
1,203,827,328.81 1,339,412,546.11
operating activity
Net cash flows arising from operating
80,169,964.00 16,020,422.02
activities
II. Cash flow arising from investment
activities:
Cash received from recovery of
investment
Cash received from investment
income
Net cash from disposal of fixed
assets,intangible assets and 858.16 3,705.21
recovery of other long term assets
Net cash received from disposal of
subsidiaries and other operating units
Other investment activity related
cash receipts
Subtotal of cash flow in from
858.16 3,705.21
investment activity
Cash paid for
construction/purchase of fixed 13,729,006.77 29,038,120.17
assets, intangible assets and other
long term assets
Cash paid for investment
Net increase of the pledged loan
Net cash paid for acquisition of
subsidiaries and other operation units
Other investment activity related
cash payments
Subtotal of cash flow out from
13,729,006.77 29,038,120.17
investment activity
Net cash flow arising from investment
-13,728,148.61 -29,034,414.96
activities:
III. Cash flow arising from fund-
raising activities:
Cash received from absorbing
investment
Incl.: Cash received from the
subsidiaries’ absorption of minority
shareholders’ investment
Cash received from loans 150,000,000.00 593,052,257.18
Other fund raising activity related
cash receipts
Subtotal of cash flow in from fund
150,000,000.00 593,052,257.18
raising activity
Cash paid for debt repayment 150,000,000.00 500,000,000.00
Cash paid for dividend/profit
4,779,458.02 4,471,210.32
distribution or repayment of interest
Including: Dividend and profit
paid by the subsidiaries to minority
shareholders
Other investment activity related
26,933,476.33 67,053,433.45
cash payments
Sub-total cash flow paid for financing
181,712,934.35 571,524,643.77
activities
Net cash flow arising from fund-
-31,712,934.35 21,527,613.41
raising activities
IV. Change of exchange rate
influencing the cash and cash -380,351.54 -463,710.47
equivalent
V. Net increase of cash and cash
34,348,529.50 8,049,910.00
equivalents
Plus: Opening balance of cash and
313,747,463.64 210,254,737.14
cash equivalents
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FIYTA Precision Technology Co., Ltd. 2023 First Quarter Report
VI. Ending balance of cash and cash
348,095,993.14 218,304,647.14
equivalents
Legal representative: Zhang Xuhua Chief Financial Officer: Song Yaoming Person in charge of the Accounting
Department: Tian Hui
(II) Auditor’s Report
Has the First Quarter Report been audited
No
FIYTA Precision Technology Co., Ltd.
Board of Directors
April 25, 2023
11
