Shenzhen Textile (Holdings) Co., Ltd. Summary of the Semi-Annual Report 2021
Stock code: 000045, 200045 Stock Abbreviation: Shen Textile A, Shen Textile B Announcement No.: 2021-51
Shenzhen Textile (Holdings) Co., Ltd.
Summary of the Semi-Annual Report 2021
I. Important notes
The summary is abstract from full-text of summary of the semi-annual report, for more details information,
investors should found in the full-text of annual report that published on website of Shenzhen Stock Exchange and
other website appointed by CSRC.
Non-standard auditor’s opinion
□ Applicable √Not applicable
Preliminary plan for profit distribution to the common shareholders or turning the capital reserve into the share
capital for the reporting period, which has been reviewed and approved at the board meeting
□ Applicable √Not applicable
The Company has no plan of cash dividends carried out, bonus issued and capitalizing of common reserves either.
Preliminary plan for profit distribution to the preference shareholders for the reporting period which has been
reviewed and approved at the board meeting
□ Applicable √Not applicable
II. Basic information about the company
1. Company profile
Stock abbreviation Shen Textile A, Shen Textile B Stock code 000045,200045
Stock exchange for listing Shenzhen Stock Exchange
Contact person and contact manner Board secretary Securities affairs Representative
Name Jiang Peng Li Zhenyu
6/F, Shenfang Building, No.3 Huaqiang 6/F, Shenfang Building, No.3 Huaqiang
Office Address
North Road, Futian District, Shenzhen North Road, Futian District, Shenzhen
Tel 0755-83776043 0755-83776043
E-mail jiangp@chinasthc.com lizy@chinasthc.com
2. Major accounting data and financial indicators
May the Company make retroactive adjustment or restatement of the accounting data of the previous years
□ Yes √ No
Reporting period Same period of last year YoY+/-（%）
Operating income（RMB） 1,101,536,407.38 856,313,348.74 28.64%
Net profit attributable to the shareholders
76,603,074.39 719,734.74 10,543.24%
of the listed company（RMB）
Net profit after deducting of non-recurring 61,814,528.89 -7,117,945.43 968.43%
gain/loss attributable to the shareholders of
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Shenzhen Textile (Holdings) Co., Ltd. Summary of the Semi-Annual Report 2021
listed company（RMB）
Cash flow generated by business operation,
-52,643,536.25 -135,619,475.23 61.18%
net（RMB）
Basic earning per share(RMB/Share) 0.1509 0.0014 10,678.57%
Diluted gains per
0.1509 0.0014 10,678.57%
share(RMB/Share)(RMB/Share)
Weighted average ROE(%) 2.74% 0.03% 2.71%
As at the end of the
As at the end of last year YoY+/-（%）
reporting period
Total assets（RMB） 5,181,566,725.34 4,969,547,552.23 4.27%
Net assets attributable to shareholder of
2,822,952,777.84 2,766,234,174.39 2.05%
listed company（RMB）
3.Shareholders and shareholding
In Shares
Total number of preferred
Total number of common
shareholders that had restored the voting
shareholders at the end of the 27,236 0
right at the end of the reporting period (if
reporting period
any) (note 8)
Particulars about shares held above 5% by shareholders or top ten shareholders
Number of share
Proportion Number of Amount of pledged/frozen
Shareholders
Nature of shareholder of shares shares held at restricted
held（%） period -end shares held State of
Amount
share
Shenzhen Investment Holdings Co.,
State-owned legal person 46.21% 234,069,436
Ltd.
Shenzhen Shenchao Technology State-owned
3.18% 16,129,032
Investment Co., Ltd. Legal person
Sun Huiming Domestic Nature person 1.03% 5,201,153
Shen Zhenxing Domestic Nature person 0.57% 2,888,400
Su Weipeng Domestic Nature person 0.56% 2,823,066 Pledge 2,800,000
Deng Yan Domestic Nature person 0.51% 2,590,600
Qi Jianhong Domestic Nature person 0.43% 2,188,800
Li Zengmao Domestic Nature person 0.36% 1,839,097
Wang Zhongjing Domestic Nature person 0.34% 1,747,000
Hou Xiulan Domestic Nature person 0.34% 1,717,991
Among the top 10 shareholders, Shenzhen Investment Holdings
Co., Ltd and Shenzhen Shenchao Technology Investment Co., Ltd.
do not constitute a concerted person relationship.Except this, the
Company did not know whether there is relationship between the
Explanation on shareholders participating in the margin trading top ten shareholders holding non-restricted negotiable shares and
business between the top ten shareholders holding non-restricted negotiable
shares and the top 10 shareholders or whether they are persons
taking concerted action defined in Regulations on Disclosure of
Information about Shareholding of Shareholders of Listed
Companies.
Explanation on shareholders participating in the margin trading The Company Shareholder Hou Xiulan holds 1,717,991 shares of
business(if any )(See Notes 4) the Company through stock account with credit transaction.
4.Changing of controlling shareholder and practical controller of the Company.
Change of holding shareholder
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Shenzhen Textile (Holdings) Co., Ltd. Summary of the Semi-Annual Report 2021
□ Applicable √ Not applicable
No change of holding shareholder in the report period.
Change of substantial controller
□ Applicable √ Not applicable
No change of substantial controller in the report period.
5.Number of preference shareholders and shareholdings of top 10 of them
□ Applicable √ Not applicable
No preference shareholders in the reporting period
6 The status of bonds remaining on the date of approval of the semiannual report
□ Applicable √ Not applicable
III. significant events
1.Progress of polarizer industrialization project for ultra-large TV (Line 7)
During the reporting period, the company strengthened the staffing and resource guarantee to overcome the
adverse effects caused by the epidemic situation. The chemical test run of the main product performance
indicators of Line 7 project has been completed, reaching the acceptance standard, Line 7 project was officially
put into production in July. As of the disclosure date of this report, the project of Line 7 has been consolidated and
entered the mass production stage.
On March 16, 2021, all the funds raised from the special account for raising funds of Line 7 project have
been used up according to regulations, and the company has canceled the special account for raising funds. For
details, please refer to Announcement No.2021-30 of cninfo (http://www.cninfo.com.cn).
As of June 30, 2021, the accumulated signed contract amount of Line 7 project was RMB 1,956,556,800, and
the actual payment was RMB 1,724,201,600 (with raised funds of RMB 409,953,500, and its own funds and
government funds of RMB 1,314,248,100).
2. Regarding the investment in the construction of the RTS rear cutting production line
During the reporting period, the company added investment in the construction of a cutting production line
for the rear end of the RTS after careful evaluation. The total investment was controlled at 30 million yuan, and
the source of funds was its own funds and bank loans. The main reasons for this investment: First, to meet the
needs of downstream panel customers, increase the depth of customer cooperation, and seize the market share of
high-margin large-size products; second, to improve the overall cutting capacity of the back end; third, to simplify
the production process and improve production efficiency. reduce manufacturing cost.
As of the disclosure date of this report, the company has been building 2 RTP production lines, and the RTP
equipment production and other work are proceeding in an orderly manner, and mass production is expected to be
realized by the end of 2021; 2 RTS production lines have been built, and 1 RTS production line is under
construction. It is expected to achieve mass production before the first quarter of 2022
3.The disposal of assets of the joint venture company Xieli Automobile Co., Ltd.
Shenzhen Xieli Automobile Enterprise Co., LTD. (hereinafter referred to as "Shenzhen Xieli") is a
sino-foreign joint venture invested by the company and Hong Kong Xieli Maintenance Company in 1981. The
registered capital is 3.12 million yuan, and the company holds 50% of the equity. The company's operating term
ended in 2008 and its business license was revoked in 2014. The company's main assets are real estate. The
company has received a payment of 25.76 million yuan in 2016, which has no impact on the company's profits
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Shenzhen Textile (Holdings) Co., Ltd. Summary of the Semi-Annual Report 2021
and losses. At present, the company is negotiating with other shareholders to deal with the real estate under The
name of Shenzhen Xili, and entrusts lawyers to conduct legal analysis of the dispute facts, issue legal opinions on
the design of rights protection scheme, and actively promote the solution of related problems. The Company shall
fulfill the information disclosure obligation in a timely manner according to the subsequent progress..
4.Matters concerning the company's compensation for arbitration and its subsidiaries' annual performance
commitments in 2019
On March 9, 2020, the company received the Notice of Arbitration (No.452 -2) from Shenzhen International
Arbitration Court and the Application for Arbitration submitted by Hangzhou Jinjiang Group Co., Ltd., which is
the applicant of this arbitration while the company is the respondent. Hangzhou Jinjiang Group Co., Ltd.
submitted the following arbitration requests: 1. The ruling made the following changes to the Cooperation
Agreement: (1) Delete the original Article 3.1 of the Cooperation Agreement and the relevant unfulfilled rights
and obligations will no longer be fulfilled (2) Delete the original Article 6.4 of the Cooperation Agreement, and
the relevant unfulfilled rights and obligations will no longer be fulfilled; 2. The respondent shall bear the
arbitration fee of the case and the actual expenses of the arbitral tribunal. The applicant reserves the right to
further modify the arbitration request. For details, please refer to the Announcement of 2020-07 on the website of
http://www.cninfo.com.cn.
On March 26, 2020, the company received the Notice on Extending the Time Limit Appointed by Arbitrators
(2020 SGZS No.452 -3) delivered by Shenzhen International Arbitration Court. Due to the complexity of the
dispute and the special epidemic background, the applicant needs extra time to negotiate and communicate the
procedural matters of the case with the respondent, so it applies to Shenzhen International Arbitration Court to
extend the time limit for appointing arbitrators in this case. Shenzhen International Arbitration Court believes that
the applicant's request is reasonable, and both parties are requested to notify Shenzhen International Arbitration
Court in writing of the arbitrator's appointment result before March 30, 2020. Therefore, the company shall
appoint an arbitrator before March 30, 2020 instead of within 15 days after receiving the arbitration notice on
March 9, 2020, and notify the Shenzhen International Arbitration Court of the results in writing. For details,
please refer to the Announcement of 2020-21 on the website of http://www.cninfo.com.cn.
On April 17, 2020, the company received the Notice of Arbitral Tribunal Composition (2020 SGZS No.452-4)
from Shenzhen International Arbitration Court. Both parties to the arbitration informed Shenzhen International
Arbitration Court in writing of the results of arbitrator selection according to the arbitration procedure before
March 30, 2020, and appointed 1 arbitrator respectively and 1 chief arbitrator together. On April 16, 2020, the
arbitration tribunal was formed to hear the case.
On December 1, 2020, the arbitration case was heard in the Seventh Arbitration Tribunal of the Court of
Arbitration located at the Shenzhen Stock Exchange.
On March 25, 2021, the company received the Award (2020 SGZC No.452) delivered by the arbitral tribunal,
and made a ruling on this case: 1. The applicant was exempted from fulfilling the 2019 annual performance
compensation obligation stipulated in Article 3.1 of the Cooperation Agreement, and does not need to pay SAPO
Photoelectric the compensation for the difference in performance in 2019 of RMB 244,783,800; 2. The arbitration
fee of RMB 2,682,011 and the actual expenses of the arbitrator of RMB 8,000 shall be borne by the applicant; 3.
The applicant's other arbitration requests are not supported. This award is final and shall come into force as of the
date of its making. This arbitration is the final award, and the award result will not affect the company's profit and
loss, nor will it affect the production and operation of SAPO Photoelectric. The company and Jinjiang Group will
continue to actively perform their shareholders' duties based on the principle of mutual benefit and win-win, and
effectively improve the production technology, management level and profitability of SAPO Photoelectric. For
details, please refer to the Announcement on Arbitration Results of the Company on Juchao Information Network
(http://www.cninfo.com.cn) (No.2021-29).
5.Progress in subsidiaries participating in the establishment of industrial funds
On November 16, 2017, the company's controlling subsidiary SAPO Photoelectric signed the Changxing
Junying Equity Investment Partnership (Limited Partnership) Agreement with the fund manager Huizhi
Investment Management Co., Ltd, general partner Jinxin Investment Co., Ltd and other limited partners, and
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Shenzhen Textile (Holdings) Co., Ltd. Summary of the Semi-Annual Report 2021
co-sponsored the establishment of an industrial fund, focusing on the optical film industry chain related projects
related to the company's main business, with a fund size of 50 million yuan. SAPO Photoelectric, as one of the
limited partners of the industrial fund, subscribed for a capital contribution of 28.5 million yuan.
For details Juchao Website:（http://www.cninfo.com.cn. (Announcement No.2017--55).
On February 10, 2018, Changxing Junying Equity Investment Partnership completed the industrial and
commercial registration and completed the private equity investment fund registration on February 8, 2018. For
details Juchao Website:（http://www.cninfo.com.cn. (Announcement No.2018--05).
As of December 31, 2019, Changxing Junying had accumulated 3 investment projects with a total investment
of 42 million yuan.
Fund contribution
No Name Investment
（RMB 10,000）
1 Shenzhen Kaichuang Shijia Technology Co., Ltd. Optical Film 1,400
2 Shenzhen Shenfuyu Electronic Technology Co., Ltd. Optical Film 1,300
3 Shenzhen Hengbaoshun Technology Development Co., Ltd. Optical Film 1,500
6.Matters on the listing and leasing of some properties in Block C of Shenzhen Textile Building
On July 13, 2021, the company held the fifth meeting of the eighth board of directors to review and approve
the Proposal on Listing and Leasing Some Properties in Block C of Shenzhen Textile Building, and agreed that the
company will publicly list and lease 6,100 square meters of properties of the 8F-10F and 1F lobby of Block C of
Shenzhen Textile Building through Shenzhen United Property and Share Rights Co., Ltd., with a lease term of 10
years (including a rent-free period of 6 months), and the rental price is not lower than 85 yuan/㎡/month
(including property management fee). The rent will increase by 5% every three years from the date of contract
conclusion, and the final transaction price will be determined according to the listing result. The listing and
leasing of some properties in Block C of Shenzhen Textile Building has shifted the market risk from self-operated
hotels to brand hotel operators through overall external leasing, which is conducive to improving the overall
operational efficiency of the company's assets, reducing operational risks, bringing stable rental income to the
company and helping to realize the preservation and appreciation of state-owned assets. For details, please refer to
the Announcement of Resolutions of the Fifth Meeting of the Eighth Board of Directors of the company
(No.2021-44) on Juchao Information Network (http://www.cninfo.com.cn).
7.Matters on liquidation and cancellation of Shenzhen Shenzhen Textile Import & Export Co., Ltd.
On July 13, 2021, the company held the fifth meeting of the eighth board of directors to review and approve
the Proposal on Liquidation and Cancellation of Shenzhen Shenzhen Textile Import & Export Co., Ltd., and
agreed on the Liquidation Report of Shenzhen Shenzhen Textile Import & Export Co., Ltd.. completed by the
liquidation group, and liquidated and distributed its assets in accordance with legal procedures, and completed
formalities such as industrial and commercial cancellation. The liquidation and cancellation of Shenzhen
Shenzhen Textile Import & Export Co., Ltd. (hereinafter referred to as "Shenzhen Textile Import & Export") will
change the scope of the company's consolidated financial statements, facilitate the disposal of inefficient assets,
reduce management costs, and will not affect the company's production and operation. The impact of the
cancellation of Shenzhen Textile Import & Export in this liquidation on the current profits and losses is estimated
to be RMB 7.64 million, and the actual amount is subject to the results confirmed by the annual audit of the audit
institution. For details, please refer to the Announcement on Liquidation and Cancellation of Shenzhen Textile
Import & Export. (No.2021-45) issued by Juchao Information Network (http://www.cninfo.com.cn).
8.Matters on waiver of preemption right and equity transfer of holding subsidiaries
On November 27, 2020, the company received the "Letter" sent by Jinjiang Group, informing the company in
writing that it intends to acquire the 40% equity of SAPO Photoelectric held by Hangzhou Jinhang Equity
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Shenzhen Textile (Holdings) Co., Ltd. Summary of the Semi-Annual Report 2021
Investment Fund Partnership (Limited Partnership) (hereinafter referred to as "Jinhang Investment"); On
December 21, 2020, the company received the Notice of Equity Transfer from Jinhang Investment, informing the
company in writing that Jinhang Investment intends to transfer its 40% equity of SAPO Photoelectric, and
according to the Company Law of the People's Republic of China and the Articles of Association of Shenzhen
SAPO Photoelectric Technology Co., Ltd., it specially sought the company's opinions on the transfer matters.
On December 25, 2020, after research and decision-making, the company formally replied to Jinhang
Investment, and the company gave up the preemptive right to exercise the 40% equity of SAPO Photoelectric, the
holding subsidiary of the company held by Jinhang Investment. For details, please refer to the Announcement on
Waiver of Preemptive Rights of Holding Subsidiaries (No.2020-57) on Juchao Information Network
(http://www.cninfo.com.cn) on December 26, 2020.
In July 2021, the company received the Letter from Jinjiang Group, informing the company about the
progress of the above-mentioned equity transfer: Jinhang Investment and the intended transferee Suzhou
Advantage Ford Investment Center (Limited Partnership) (hereinafter referred to as "Advantage Ford") have
completed their internal decision-making examination and approval, and the delivery conditions for Advantage
Ford to accept 100% of the partnership share of Jinhang Investment have been met, and both parties will promote
the transfer of the partnership share. After the completion of the transfer procedure, Advantage Ford will directly
hold 99.93333% of the partnership share of Jinhang Investment; Meanwhile, Zhejiang Hengjie Industrial Co., Ltd.
indirectly holds a partnership share of 0.06667% of Jinhang Investment. As of July 28, 2021, for the above equity
transfer, the industrial and commercial change registration procedures have been completed. After the completion
of this equity transfer, the shareholders and equity ratio of SAPO Photoelectric, the holding subsidiary of the
company, remain unchanged, and the scope of the consolidated statements of the company has not changed.
Advantage Ford holds 40% equity of SAPO Photoelectrics through Jinhang Investment, and the strategic investor
of SAPO Photoelectric will be changed from Jinjiang Group to Advantage Ford. Advantage Ford has rich
industrial resources, industrial investment and management experience, and both parties will give full play to their
respective advantages to further improve and strengthen the main business of polarizer. For details, please refer to
the Progress Announcement on Waiver of Preemptive Rights and Equity Transfer of Holding Subsidiaries
(No.2021-47) on Juchao Information Network (http://www.cninfo.com.cn).
The Board of Directors of Shenzhen Textile (Holdings) Co., Ltd.
August 28, 2021
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