ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
LuxsharePrecisionIndustryCo.,Ltd.
AnnualReportFortheyearendedDecember31,2020
2021-032
April2021
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
SectionI.ImportantNote,TableofContentsandDefinitions
TheBoardofDirectors,theBoardofSupervisors,directors,supervisorsandexecutivesoftheCompanyherebywarrantthattheinformationcontainedinthisAnnualReportistrue,accurateandcompleteandthisAnnualReportisfreefromanymisrepresentation,misleadingstatementormaterialomission,andagreetoassumejointandseveralliabilityforthisAnnualReport.WANGLaichun,PrincipaloftheCompany,CFOWUTiansongandAccountingSupervisorXIAONaherebyrepresentthatthefinancialstatementscontainedinthisAnnualReportaretrue,accurateandcomplete.AlldirectorsoftheCompanyattendedthemeetingoftheBoardofDirectorsreviewingthisReport.TherelevantrisksfacingtheCompanyaresetoutin“SectionIVDiscussionandAnalysisofBusinessSituations-IX.ProspectsforfuturedevelopmentoftheCompany”.AccordingtotheprofitdistributionproposalapprovedbytheBoardofDirectors,theCompanywilldistributeacashdividendsofRMB1.1and0bonusshare(bothinclusiveoftax)per10sharestoallshareholdersonthebasisof7,035,426,367shares,andwillnottransferanycapitalreservetothesharecapitalforthereportingperiod.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
TableofContents
SectionI.ImportantNote,TableofContentsandDefinitions.............................................................................................................2
SectionIICompanyProfileandFinancialHighlights ...... 5
SectionIIIBusiness ...... 9
SectionIV.DiscussionandAnalysisofBusinessSituations................................................................................................................24
SectionVSignificantMatters ...... 51
SectionVIChangesinSharesandShareholders ...... 71
SectionVIIPreferredShares ...... 79
SectionVIIIConvertibleCorporateBonds ...... 80
SectionIXDirectors,Supervisors,SeniorManagementandEmployees ...... 82
SectionXCorporateGovernance ...... 93
SectionXICorporateBonds ...... 105
SectionXIIFinancialReport ...... 106
SectionXIIIListofDocumentsAvailableforInspection ...... 294
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Definitions
Terms | Definition | |
Luxshare-ICT | means | LuxsharePrecisionIndustryCo.,Ltd. |
LuxshareHK | means | LuxsharePrecisionLimited(HK),founderandcontrollingshareholderofLuxshare-ICT |
XuntaoDongguan | means | DongguanXuntaoElectronicCo.,Ltd. |
LuxshareDongguan | means | DongguanLuxsharePrecisionIndustryCo.,Ltd. |
LeaderDongguan | means | DongguanLeaderPrecisionIndustryCo.,Ltd. |
XiexunJi’an | means | XiexunElectronic(Ji’an)Co.,Ltd. |
IntelligentManufactureJiangxi | means | JiangxiLuxshareIntelligentManufactureCo.,Ltd. |
ASAPJiangxi | means | ASAPTechnology(Jiangxi)Co.,Ltd. |
XiexunWan’an | means | Wan’anXiexunElectronicCo.,Ltd. |
XiexunXinyu | means | XinyuXiexunElectronicCo.,Ltd. |
LuxshareKunshan | means | KunshanLuxsharePrecisionIndustryCo.,Ltd. |
LantoKunshan | means | LantoElectronicLimited |
LuxshareElectronicKunshan | means | LuxshareElectronicTechnology(Kunshan)Co.,Ltd. |
LuxshareIntelligentManufacture | means | LuxshareIntelligentManufacture(Zhejiang)Co.,Ltd. |
LuxshareSuzhou | means | LuxsharePrecisionIndustry(Suzhou)Co.,Ltd. |
LuxshareChangshu | means | LuxshareIntelligentManufactureTechnology(Changshu)Co.,Ltd. |
LuxshareAutomationJiangsu | means | LuxshareAutomation(Jiangsu)Ltd. |
LantoBozhou | means | BozhouLantoElectronicLimited |
LuxshareChuzhou | means | LuxsharePrecisionIndustry(Chuzhou)Ltd. |
LuxshareFengshun | means | FengshunLuxsharePrecisionIndustryCo.,Ltd. |
RikaiComputer | means | RikaiComputerAccessoriesCo.,Ltd. |
LuxshareVietnam | means | Luxshare-ICT(Vietnam)Limited |
LuxshareVanTrung | means | Luxshare-ICT(VanTrung)CompanyLimited |
LuxshareNgheAn | means | Luxshare-ICT(NgheAn)Limited |
LuxsharePrecision | means | LuxsharePrecisionLimited |
ICT-Lanto | means | ICT-LantoLimited |
SuK | means | SuKKunststofftechnikGmbH |
MeiteSuzhou | means | MeiteTechnology(Suzhou)Co.,Ltd. |
WeichuangJiangsu | means | WeichuangInvestment(Jiangsu)Co.,Ltd. |
WeixinKunshan | means | WeixinZitong(Kunshan)Co.,Ltd. |
ShenzhenMSA | means | ShenzhenAdministrationforIndustryandCommerce,whichwasintegratedintotheMarketSupervisionAdministrationofShenzhenMunicipality |
AOA | means | ArticlesofAssociationofLuxsharePrecisionIndustryCo.,Ltd. |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
SectionIICompanyProfileandFinancialHighlights
I.Companyprofile
Stockshortname | Luxshare-ICT | Stockcode | 002475 |
Stockexchange | ShenzhenStockExchange | ||
Chinesename | 立讯精密工业股份有限公司 | ||
Chineseshortname | 立讯精密 | ||
Englishname(ifany) | LuxsharePrecisionIndustryCo.,Ltd. | ||
Englishshortname(ifany) | Luxshare-ICT | ||
Legalrepresentative | WANGLaichun | ||
Registeredaddress | 2/F,BlockA,SanyangNewIndustrialZone,WestHaoyi,ShajingStreet,BaoanDistrict,Shenzhen | ||
Postalcodeofregisteredaddress | 518104 | ||
Officeaddress | No.313BeihuanRoad,QingxiTown,Dongguan,Guangdong | ||
Postalcodeofofficeaddress | 523642 | ||
Companywebsite | www.luxshare-ict.com | ||
Public@luxshare-ict.com |
II.Contactpersonandcontactinformation
BoardSecretary | SecuritiesAffairsRepresentative | |
Name | HUANGDawei | LIRuihao |
Address | No.313BeihuanRoad,QingxiTown,Dongguan,Guangdong | No.313BeihuanRoad,QingxiTown,Dongguan,Guangdong |
Telephone | 0769-87892475 | 0769-87892475 |
Fax | 0769-87732475 | 0769-87732475 |
David.Huang@luxshare-ict.com | Ray.Li@luxshare-ict.com |
III.Mediaforinformationdisclosureandplaceforkeepingannualreport
Designatednewspapersforinformationdisclosure | SecuritiesTimes |
WebsitesdesignatedbytheChinaSecuritiesRegulationCommissionforpublishingannualreport | www.cninfo.com.cn |
Placeforkeepingannualreport | SecuritiesAffairsOfficeoftheCompany |
IV.Changesinregistrationparticulars
Changeinorganizationcode | No |
ChangesinmainbusinesssincethelistingoftheCompany(ifany) | No |
Changesincontrollingshareholder(ifany) | No |
V.Otherrelatedinformation
AccountingfirmengagedbytheCompany
Nameofaccountingfirm | BDOChinaShuLunPanCertifiedPublicAccountantsLLP |
Officeaddressofaccountingfirm | Rooms1,2&3,4/F,No.61EastNanjingRoad,HuangpuDistrict,Shanghai |
Nameofaccountantssigningthisreport | LIJingandWEIGang |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
SponsorengagedbytheCompanythatperformsthedutiesofongoingsupervisionovertheCompanyduringthereportingperiod
√Applicable□N/A
Nameofsponsor | Officeaddressofsponsor | Namesofsponsorrepresentatives | Periodofongoingsupervision |
CITICSecuritiesCo.,Ltd. | 19/F,NorthTower,ExcellenceTimesPlaza(PhaseII),No.83rdCentralRoad,FutianDistrict,Shenzhen | HEFengandLIUGuanzhong | FromDecember2,2020toDecember31,2021 |
FinancialadvisorengagedbytheCompanythatperformsthedutiesofongoingsupervisionovertheCompanyduringthereportingperiod
□Applicable√N/A
VI.Keyaccountingdataandfinancialindicators
DidtheCompanyneedtoretrospectivelyadjustorre-stateanyaccountingdataofprioraccountingyears?
□Yes√No
2020 | 2019 | Y/Y%Change | 2018 | |
Operatingrevenue(RMB) | 92,501,259,211.54 | 62,516,314,588.42 | 47.96% | 35,849,964,160.13 |
Netprofitattributabletoshareholdersofthelistedcompany(RMB) | 7,225,462,752.58 | 4,713,820,644.90 | 53.28% | 2,722,631,125.23 |
Netprofitattributabletoshareholdersofthelistedcompanyafterdeductionofextraordinarygainorloss(RMB) | 6,088,901,850.86 | 4,435,974,109.41 | 37.26% | 2,553,973,258.82 |
Netcashflowsfromoperatingactivities(RMB) | 6,873,211,486.05 | 7,465,988,174.33 | -7.94% | 3,142,307,168.34 |
Basicearningspershare(RMB/share) | 1.03 | 0.68 | 51.47% | 0.37 |
Dilutedearningspershare(RMB/share) | 1.01 | 0.67 | 50.75% | 0.37 |
Weightedaveragereturnonnetassets | 30.29% | 26.55% | 3.74% | 17.95% |
December31,2020 | December31,2019 | Y/Y%Change | December31,2018 | |
Totalassets(RMB) | 70,012,753,551.75 | 49,377,910,671.23 | 41.79% | 36,441,441,236.44 |
Netassetsattributabletoshareholdersofthelistedcompany(RMB) | 28,101,816,234.56 | 20,296,618,968.52 | 38.46% | 15,497,944,981.18 |
Whetherthelowerofthenetprofitbeforeandafterdeductionofextraordinarygainorlossinthepastthreeaccountingyearshasbeennegativeandthemostrecentannualauditor’sreportindicatesthattheCompany’sabilitytocontinueasagoingconcernisuncertain?
□Yes√NoWhetherthelowerofthenetprofitbeforeandafterdeductionofextraordinarygainorlossisnegative?
□Yes√No
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
VII.DifferencesinaccountingdataarisingfromadoptionofforeignandChineseaccountingstandardsconcurrently
1.DifferencesinnetprofitandnetassetsdisclosedonthefinancialstatementsaccordingtotheinternationalaccountingstandardsandtheChineseaccountingstandards
□Applicable√N/ATherewasn’tanydifferenceinnetprofitandnetassetsdisclosedonthefinancialstatementsforthereportingperiodduetoadoptionoftheinternationalaccountingstandardsandtheChineseaccountingstandardsbyusconcurrently.
2.DifferencesinnetprofitandnetassetsdisclosedonthefinancialstatementsaccordingtotheforeignaccountingstandardsandtheChineseaccountingstandards
□Applicable√N/ATherewasn’tanydifferenceinnetprofitandnetassetsdisclosedonthefinancialstatementsforthereportingperiodduetoadoptionoftheforeignaccountingstandardsandtheChineseaccountingstandardsbyusconcurrently.
VIII.Mainquarterlyfinancialindicators
InRMB
Firstquarter | Secondquarter | Thirdquarter | Fourthquarter | |
Operatingrevenue | 16,513,283,460.66 | 19,938,342,688.20 | 23,076,494,141.40 | 32,973,138,921.28 |
Netprofitattributabletoshareholdersofthelistedcompany | 981,870,190.71 | 1,555,904,567.75 | 2,141,839,306.57 | 2,545,848,687.55 |
Netprofitattributabletoshareholdersofthelistedcompanyafterdeductionofextraordinarygainorloss | 896,806,034.69 | 1,441,507,176.13 | 1,872,789,269.22 | 1,877,799,370.82 |
Netcashflowsfromoperatingactivities | 1,319,173,417.54 | 1,862,770,924.91 | -441,882,109.67 | 4,133,149,253.27 |
Whetherthere’sanysignificantdifferencebetweenthefinancialindicatorssetforthaboveoraggregateamountsthereofandthecorrespondingfinancialindicatorscontainedinanyquarterlyorsemi-annualreportalreadydisclosed?
□Yes√No
IX.Itemsandamountsofextraordinarygainsorlosses
√Applicable□N/A
InRMB
Item | 2020 | 2019 | 2018 | Remark |
Gainorlossondisposalofnon-currentassets(includingallowanceforimpairmentofassetsthathasbeenwrittenoff) | -35,503,173.93 | -110,085,527.48 | -17,424,350.63 | |
Governmentgrantsrecognizedinprofitorloss(excludinggovernmentgrantsthatarecloselyrelatedtothebusinessoftheCompanyandareprovidedinfixedamountorquantitycontinuouslyaccordingtotheapplicablepolicesofthecountry) | 450,749,695.89 | 232,311,428.35 | 123,984,003.37 | |
Gainorlossonassetsunderentrustedinvestmentormanagement | 113,778,335.78 | 89,722,710.32 | 78,134,882.23 | |
Gainorlossonchangesinfairvalueoffinancialassetsheldfortrading,derivativefinancialassetsandfinancialliabilitiesheldfortrading,andgainondisposaloffinancialassetsheldfortrading,derivative | 837,100,369.42 | 131,736,631.37 | 49,088,345.36 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
financialassets,financialliabilitiesheldfortradingandotherdebtinstruments,exceptforeffectivehedgesheldintheordinarycourseofbusiness | ||||
Othernon-operatingincomeandexpenses | 30,554,498.37 | -999,739.32 | 10,263,319.96 | |
Othergainorlosswithinthemeaningofextraordinarygainorloss | -45,901,431.11 | |||
Less:Effectofincometax | 214,489,873.68 | 55,533,801.99 | 22,195,598.91 | |
Effectofminorityinterest(exclusiveoftax) | 45,628,950.13 | 9,305,165.76 | 7,291,303.86 | |
Total | 1,136,560,901.72 | 277,846,535.49 | 168,657,866.41 | -- |
IftheCompanyclassifiesanyitemofextraordinarygainorlossdefinedbyorlistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesPubliclyOfferingSecurities-ExtraordinaryGainorLossasrecurrentprofitorloss,pleaseexplainthereason.
□Applicable√N/AWehavenotclassifiedanyitemofextraordinarygainorlossdefinedbyorlistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesPubliclyOfferingSecurities-ExtraordinaryGainorLossasrecurrentprofitorlossinthereportingperiod.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
SectionIIIBusiness
I.Mainbusinessinthereportingperiod
1.OverviewWeareengagedintheresearch,development,manufacturingandsalesofproductsinthefieldsofconsumerelectronics,communication,autoelectronicsandhealthcare,amongothers.In2020,inlightofthecomplicatedexternalenvironment,weefficientlyimplementedthedevelopmentplansandobjectivesestablishedbythemanagement,cautiouslyandflexiblycopedwiththeexternalenvironment,andrealizedrapidgrowthofallscopesofbusiness.Ourkeymanagementhascontinuouslymadedeploymentsforfuturedevelopmentcenteredonourmainbusiness,andfocusedonmaximizingbenefitsandrealizingsustainabledevelopment.Ourproductsandscopesofbusinessarediversifiedandverticallyintegrated,andweprovidecomponents,modulesandsystemassembly.Thebusinessofprecisioncomponentsisafieldinwhichwehavesetfootearliestandaccumulatedrichestexperience.Wehavecomprehensiveproductionprocesses,includingdesignandprocessingofprecisionmolds,designandrealizationofintelligentautomation,CNC,SMT,SiP,stamping,molding,electroplating,conductorextractionandbarewireextrusion,enablingustoensurethequalityofourproductsandtimelydeliveryofproductstocustomers.Inaddition,wemasterallbasicprocesses,whichhelpusmakecontinuousinnovationsinnewtechnologiesandnewprocesses.Ourmoduleproductsfocusonacoustic,radiofrequency,touchcontrol,powerandfunctionalfields,andmainlyincludeacousticmodules,antennas,wirelesschargingandvibrationmotors.Inthefieldofcommunicationanddatacenter,ourproductsmainlyincludehigh-speedconnectivity,opticmodule,coolingmodule,basestationantennaandbasestationfilter.Throughfocusingontechnologydevelopmentandcombiningtheeffortsofenterprises,universitiesandresearchinstitutes,weareleadingthewayincertainmarketsegmentsintheworld.Inthefieldofautomotives,wefocusonthe“bloodvesselsandnervoussystem”ofautomotives,andofferautomotivewireharness,specialwireharness,high-voltagewireharnessfornewenergyvehicles,connector,smartelectricbox,road-sideunit(RSU),telematicscontrolunit(TCU),centralgatewayandotherproducts.Inthecommunicationandautomotivebusiness,wegreatlybenefitfromourstrongprocess,research,development,quality,operationandothercomprehensivecapabilitiesaccumulatedinthefieldofconsumerelectronicsinourearlystageofdevelopment.Thematureexperiencesandavarietyofresourcesownedbyusindifferentfieldshaveproducedasynergyeffectandformedavirtuouscyclefeaturingmutualnourishmentandmutualpromotion.Weconcentrateoureffortsonthespecializationinandoptimizationofunderlyingtechnologies,madein-depthdeploymentsinacoustic,visual,power(wired/wireless),wirelesscommunicationandotherfieldstomeetfuturedemands.Ourproductshavebeenwidelyappliedinthefieldsofconsumerelectronicsandautomotives.Bycomprehensivelymasteringthetechnologiesrelatingtovariouscomponentsandmodules,andsuper-precisionmanufacturingtechnologiesaccumulatedovertheyears,wegivefullplaytoouradvantagesinverticalintegration.Inrecentyears,wehavecontinuouslyrestructuredthesupplychaininthefieldofsystemassembly,tocreatemorevalueforourcustomers,therebygainingcustomers’supportandconfidence.Ourmainproductsinthefieldofsystemassemblyincludesmartwearable,smarthomeandsmartdisplayproducts.Inlaunchinganewproduct,wefocusontheproductquality,yieldrateandoptimizationofproductioncostonthebasisofinnovativeproductiontechnology,intelligentautomationanddigitalplatform,therebyenablingustomakecontinuousandsubstantialbreakthroughsinnewmarkets,newcustomersandnewproducts.Intheimplementationofrelatedcontrols,thereisnodoubtthattheautomationtechnologieslaythestrongfoundationforourcorecompetencies.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Therefore,weattachgreatimportancetothecontinuousexplorationofautomaticandintelligentmanufacturing.Ourcoreteam’sspiritofin-depthexplorationofprocessesanddeterminationtoaccomplishalltasksassignedguaranteethesuccessinthedevelopmentanddesignofautomationtechnologies.Accordingtotherequirementsforcosmetic,size,functionsandreliabilityofproducts,wedisassembleandstudyallmanufacturingprocesses,andmakeeffortstosolveprocesschallengeswithreferencetoourpastexperienceandadvancedtechnologiesavailableonthemarket.Withthegoalofzerolossandzerodefect,westrivetorealizethereasonableness,standardizationandautomationofdesignsinteremsofyieldrate,efficiency,cost,etc.
Afterthecompletionofprocessstudy,werealizeprocessdesignthroughautomation,includingautomationofworkstations,handlingandpositioning,testing,warehousing,logisticsandproductionprocess.Standardizationistheprerequisiteforautomation,becausestandardizedproductscannotbemadewithouttheuseofstandardizedequipmentandprocesses.Withrespecttotheproductsthathavealowdemandandchangefrequently,wemainlyuseman-machineflexibleautomationtechnologies.Inthedesignofautomaticequipment,wemakeplansforMESsystem,IoTaccessandkeyworkstationinformationflowsneedingtobecontrolledsimultaneously,andbuildamodelofdigitalfactoryonthatbasis.Thereafter,weconvertallproblemsandphenomenonintodata,andthenprocessandjudgethedatasystematically,andpresentthesameintheformofvisualreports,torealizewhole-processtraceabilityofproducts,materials,people,equipment,fixtures,processtechnologyandqualityinformation,amongothers,implementclose-endcontrol,andensuretheeffectiverealizationofautomation.
Onthatbasis,weintroducedigitalmodels,usemodelingapproachestoconnectproductionwithdataflows,andthroughtheuseofbigdata,cloudcomputing,artificialintelligence,digitaltwinandothertechnologies,deeplyexploretheinformationandtrendsonthebackofdata,seekbenefitsfromdata,andfinallyrealizeintelligentization,andself-judgment,selfdecision-making,self-adjustmentandself-executionbymachines,sothatthemachinesareabletosolvetangibleproblemsandpredictintangibleproblemsontheirown,therebyachievingthelong-termgoalofintelligentmanufacturing.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
1.精益化?工艺的深度拆解和前瞻研究?设计的合理化、标准化和简单化?产线的精益布局规划 | 3.数字化?IOT、制造数字化集成?可视化控制中心和管理?运营流程自动化贯通 | ||||
1.Improvement?In-depthdisassemblyofandforward-lookingresearchonprocesses?Reasonableness,standardizationandsimplificationofdesign?Improvedlayoutofproductionlines | 3.Digitalization?DigitalintegrationofIoTandmanufacturing?Visualcontrolcenterandmanagement?Automationofthewholeoperationprocess | ||||
2.自动化?搬运-加工-检测-物流-仓储的全流程自动化?柔性自动化系统分析 | 4.智能化?机器自感知、自学习、自决策、自执行?解决有形的问题和预测无形的问题?数据驱动管理决策 | ||||
2.Automation?Whole-processautomationofhandling,processing,testing,logisticsandwarehousing?Analysisofflexibleautomationsystem | 4.Intelligentization?Self-sensing,self-learning,selfdecision-makingandself-executionofmachines?Solvetangibleproblemsandpredictintangibleproblems?Data-drivenmanagementdecision-making | ||||
物理域 | 精益生产布局 | 精益工艺研究 | 工艺数字化 | 流程数字化 | |
Physicalfield | Improvedproductionlayout | Improvedprocessstudy | Technologicaldigitalization | Processdigitalization | |
精益化 | 数字化 | 智能制造 | 信息域 | 制成自动化 | |
Improvement | Digitalization | Intelligentmanufacturing | Informationfield | Manufacturingautomation |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
自动化 | 智能化 | 预测性分析 | 物流自动化 | 高级决策支持 |
Automation | Intelligentization | Predictiveanalysis | Logisticsautomation | Advanceddecision-makingsupport |
2.ConsumerelectronicsbusinessFromtheperspectiveofapplications,consumerelectronics,communicationandautomotivesareourmainproductandbusinesssegments.Inthefieldofconsumerelectronics,weofferawiderangeofproducts,centeringonfuture5Gsmartlife,whileutilizingourexistingresources,andgraduallydiversifyourproductofferings.Ourproductsincludeacousticproducts,suchasTWSearphone,bluetoothheadphone,high-endgamingheadsetandsmall-sizedhigh-qualitystereospeaker,smarthomeproducts,suchas5GrouterandWi-Fi6portablerouter,smartterminalproducts,suchaswearablewatchandwristband,tracker,gamecontrollerandAR/VR,computeraccessories,suchasDockandintelligentstylus,andwiredandwirelesschargingaccessoriesforvariousPC/NB/mobilephonebrandsforretailsale.Inadditiontotraditionalproducts,wewilllaunchavarietyofcustomizedsmartproductsinconjunctionwithdifferentplatformcustomers,toenrichourproductofferings.
智能音箱 | 智能手机 | VR眼镜 | 5G路由器 | 智能穿戴 | 无人机 |
Smartspeaker | Samrtphone | VReyeglasses | 5Grouter | Smartwearable | Drone |
电子烟 | 无线充模组 | 声学模组 | 震动马达 | 5G模组 | 天线 |
Electroniccigarette | Wirelesschargingmodule | Acousticmodule | Vibrationmotor | 5Gmodule | Antenna |
机壳 | 射频 | 线材线缆 | 机构件 | 连接器 | 核心工艺智能制造 |
Casing | Radiofrequency | Wireandcable | Mechanicalcomponents | Connector | CoretechnologyIntelligentmanufacturing |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
3.CommunicationbusinessDrivenby5G,bigdataandedgecomputingtechnologies,theICTindustryhasbeengrowingvigorously,andthehardwareequipmentshowsatendencytowardsgradualopeningofinterfacesandhighintegrationoffunctions.Inlightofsuchbackground,wehavecontinuouslyextendedthemixofourhardwarecommunicationproducts.Atpresent,ourwhole-machineproductsincludebasestationantenna,basestationfilter,towermountedamplifier,duplexer,combiner,RRU,AAU,smallbasestation,etc.,andcorecomponentproductsincludehigh-speedconnector,high-speedcableassembly,photoelectricconversionandoptictransmissionapplicationproducts,coolingmodule,transmissionmodule,RCU,etc.Throughsuchproductmix,ourstrategyofdevelopingbothwholemachineproductsandcorecomponentproducts(electricconnector,opticalconnectorandthermalmanagement)hasbeguntoshowresults.
Wehavefocusedonthedevelopmentofcoretechnologicalcapabilitiesandbasicresearchanddevelopment(R&D)capabilitiesthroughresearchofsimulationtechnology,newmaterialsandnewprocessesandapplicationoftestingtechnologies,sothatwecanprovidestrongtechnicalsupportregardlessofanychangeinproductforms.Withrespecttosystemproducts,throughdisassemblyofmodulesandcomponentscontainedintheproducts,andsingle-pointmanufacturingprocessesandtechnologies,weareabletorealizehighlyorwhollyautomated,efficientandhigh-qualityproductionandmanufacturingforlargeandsmallbatchesofproducts.
ICT系统产品家族 | 天线系统 | 滤波器 | 射频模块 |
ICTsystemproductfamily | Antennasystem | Filter | Radiofrequencymodule |
Withrespecttocorecomponentproducts,werelyontheapplicationindatacenters,servers,switchesandmemories,enhanceourinnovationandR&Dcapabilitiesinrespectofelectricalconnectionproducts,establishacompleteinterfacesystem,andcreateadual-coreenginecombiningstandardsandpatents,soastotaketheleadonthemarket.Withrespecttoopticalconnectionproducts,wehaveengagedinthedevelopmentoftechnologiesthatareexpectedtobeappliedinthenextthreetofiveyears,tolaythefoundationfortheintegrationofelectricalconnectiontechnologiesinthefuture,andrealizecornerovertakinginkeyareas.Withrespecttothermalmanagementproducts,inlightofstrongdemands,wewilldevelopoutstandingproductandtechnicalcapabilitieswithintwotothreeyears,tooccupyafavorablepositiononthefuturemarket.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
核心零部件——数据中心产品家族 | 汇聚交换机 | 接入交换机 | 数据中心机架群 | 机架内服务器群 | |
Corecomponents–datacenterproductfamily | Aggregationswitch | Accessswitch | Datacenterrackcluster | Serverclusterinsiderack | |
应用:数据中心机架内/机架间互连服务器与交换机互连:单口速率:传输距离: | 应用:数据中心机架内互连服务器与接入交换机互连:单口速率:传输距离: | ||||
Application:Intra-rack/inter-rackconnectionatdatacenterServer-switchconnectionSingle-portrate:Transmissiondistance: | Application:Intra-rackconnectionatdatacenterServer-accessswitchconnectionSingle-portrate:Transmissiondistance: |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
核心零部件——服务器/存储/交换机产品家族 | 电连解决方案 | 散热解决方案 | 轴流风扇 | |
Corecomponents–server/memory/switchproductfamily | Electricalconnectionsolution | Coolingsolution | Axialfan | |
光模块散热器 | 服务器CPU散热器 | 800G应用(功率12-24W) | ||
Opticalmodulecooler | ServerCPUcooler | 800Gapplication(Power:12-24W) | ||
应用:服务器/存储/交换机高速互连解决方案单口速率外部IO/背板:内部IO: | 自研界面:轩猿平台高速背板:服务器互连界面:下一代互连形态: | |||
Application:Server/memory/switchhigh-speedconnectivitysolutionSingleportrate:ExteriorIO/backboardInteriorIO: | Self-developedinterface:XuanYuanplatformHigh-speedbackboard:Serverconnectioninterface:Next-generationconnectivityform: |
Our“wholemachine+corecomponents”double-linestrategylaysthefoundationfortheprovisionofone-stopandcomprehensiveservicestoourcustomers.Inaddition,theincreasinghighceilingofthemarketandincreasinglargespaceforgrowthwillgivestrongsupporttoourlong-termgrowthinthenextfivetotenyears.
4.Automotivebusiness
Atpresent,theautomotiveindustryistransitingfromtraditionalmanufacturingtoscientificandtechnologicalmanufacturing.Vehiclesaregraduallydevelopingfrompureridingtoolstoaninterconnectedspaceonwheelsintegratingentertainment,officeandconsumption.Thedemandsofvehicleconsumersforintelligentizationandpersonalizationdrivethetransitionofvehiclestowardssuper-smartterminals.LedbyTesla,smartcabinbecomesanareaofbreakthrough,whichcreatesawholly-newexperienceofman-vehicleinteractionthroughtheprovisionofLCDpanel,centralcontrolscreenandotherfunctions,extendsthefunctionsofsmartphonestovehicles,andrealizesseamlessconnectionwithmobilephones.TheincreasinglywideapplicationofADASandtheInternetofVehicleswill
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
alsopromotetheintelligentizationofvehiclesandacceleratetheentryintoaneraofsmartvehicles.
汽车向智能终端演进的过程中将迎来黄金十年 | |||
Wewillenterintoagoldendecadeduringthetransitionofvehiclestowardssmartterminals | |||
电动化 | 智能化 | 网联化 | 共享化 |
Motorization | Intelligentization | Networking | Sharing |
行业趋势 | 智能座舱、智能驾驶 | 无人网约车服务 | 零部件/软件服务 |
Industrialtrend | Smartcabin,smartdrive | Unmannedcarhailingservice | Components/softwareservice |
整车制造 | 整车品牌/主要玩家 | 电池/电子电气架构 | FOTA升级及服务 |
Vehiclemaking | Vehiclebrands/mainplayers | Battery/electricalandelectronicarchitecture | FOTAupgradingandservice |
品牌群雄并起、百花齐放 | 特斯拉、新势力 | ||
Alotofbrandsenterthemarket | Telsa,newplayers | ||
传统车企拥抱新趋势 | 百度等自动驾驶方案 | ||
Traditionalcarmanufacturersfollowthenewtrend | Auto-drivesolutionsofferedbyBaiduandotherentities | ||
小米等手机巨头 | 软件升级+服务变现 | ||
Xiaomiandothermobilephonetycoons | Softwareupgrading+servicemonetization | ||
?平台型汽车企业?市场份额更加走向集中化 | ?自动驾驶能力?硬件整合能力?跨平台软件、服务变现能力?无人车运营能力 | ||
?Platform-stylecarmanufacturers?Marketsharesareincreasinglyconcentrated | ?Auto-drivecapability?Hardwareintegrationcapability?Trans-platformsoftwareandservicemonetizationcapability?Unmannedvehicleoperationcapability | ||
硬件快速迭代(硬件成本下行、品牌厂积极创新、快速 | 基于传统汽车设计的硬件迭代 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
迭代以实现差异化) | |
Hardwareisupgradingquickly(decreaseincostsofhardware,activeinnovationofbrands,quickupgradingtoachievedifferentiation) | Hardwareupgradingbasedontraditionalvehicledesign |
?硬件设计趋于标准化,通过软件及服务寻求差异?提升车企利润率和客户粘性 | ?整车百花齐放,同时创新动能提升,带动零部件机会?电动化、智能化ASP提升 |
?Hardwaredesigntendstowardsstandardization,withtheintentiontoachievedifferentiationthroughsoftwareandservices?Increasethegrossmarginandcustomeradhesionofcarmanufacturers | ?Alotofcarmanufacturersenterthemarketandshowenthusiasmforinnovation,bringinginmoreopportunitiesforcomponents?MoremotorizedandsmartASP |
车的形态变化(标准化、模块化设计) | 硬件格局走向集中,软件及服务生态建立 |
Changeinformofvehicle(standardizedandmodulardesign) | Hardwaretendstowardsconcentrationandtheecosystemofsoftwareandserviceisestablished |
Wehavebeenengagedinautomotivebusinessformanyyears,atpresent,focusonautomotiveelectricsandsmartnetworking,orthe“bloodvesselsandnervoussystem”ofautomotives,andofferlow-voltageautomotivewireharness,specialwireharness,high-voltagewireharnessfornewenergyvehicles,high-speedconnector,smartelectricbox,road-sideunit(RSU),telematicscontrolunit(TCU),centralgatewayandotherproducts.Wireharnessisanessentialsystem-levelcomponentforavehicle,isflexible,importantandwidelyused,coversallconfigurationsofavehicle,andprovidesreliablepowersupply,signalsanddatatoallelectricappliances,sotheyserveas“arteries”ofthe“neuralnetwork”ofavehicle.Automotivewireharnessisamainarterysupplyingnutrientsthroughoutthevehicle,whilespecialwireharnessisan“umbilicalcord”or“nerveending”,whichobtainspowerandsignalsfromtheautomotivewireharnessandeffectsswitchesandconnectionsamongdifferentsensors,actuatorsorothercomponents.Throughverticalintegration,wehavegrownintoacomprehensivesuppliercoveringdesign,manufacturingandvalidationofautomotivewireharness,specialwireharnessandsmartelectricbox.
Alongwiththerapidgrowthofsmartelectricvehiclesthroughouttheworld,high-voltagewireharnessesandconnectorswillconstituteanincreasinglyhighproportiononfuturevehicles.Wehavedesignedanddevelopedallkindsofhigh-voltagewireharnessesandconnectorsusedonavehicle,includinghigh-voltagewireharness,charging
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
connector,high-voltageconnector,busbar,etc.
高压连接器 | 母排 | 充电枪、充电座、充电线束总成 | 母排系统总成 |
High-voltageconnector | Busbar | Charginggun,chargingdock&chargingwireharnessassembly | Busbarsystemassembly |
Duetotheconcentrationofautomotiveelectronicarchitecture,inordertorealizemorerapidandaccuratecommunication,thedemandsforvariousautomotivedatacommunicationmodulesandinterfacesaregrowingcontinuously,suchasgateway,remorecommunicationandothermodulesrelatedtoLIN,CANand100M/gigabitethernettransmission.However,thetransmissionofsuchhigh-speedsignalsfacesnewchallegnes.Ourproprietarygigabitethernetconnectoradoptsawhollyshieldeddoublecableconnectionstructure,andcanbewidelyusedoninfotainment,ADAS,domaincontrollerandotherproducts.
高速连接器应用 | 物理接口及连接类型 |
High-speedconnectorapplication | Physicalinterfaceandtypeofconnection |
TheInternetofVehiclesreliesonthenew-generationinformationcommunicationtechnology,receives
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
informationfromandtransmitsinformationtomovingvehicles,soastorealizenetworkingbetweenvehicles,betweenvehiclesandpeople,betweenvehiclesandroads,andbetweenvehiclesandserviceplatforms,andcanplayanimportantroleinvehiclesafety,trafficcontrol,informationservice,smartcityandintelligenttransportation.Atpresent,theInternetofVehiclesapplicationsarekeyprojectsofgovernmentandOEMs,andrequirecoordinationamongmultipledevices,suchasroad-sideunit(RSU)whichcollectsenvironment,trafficcondition,trafficsignandotherinformationandsendsthesametovehicles,telematicscontrolunit(TCU)whicheffectstwo-waycommunicationbetweenvehiclesandexternalnetworks,centralgateway(CGW)whichconnectsallelectronicdevicesonavehicle,andotherproducts.Wefocusonthedevelopmentofwirelesscommunicationandautomotiveelectronicproducts,andcurrentlyofferRSU,TCUandCGW,amongothers.
Byleveragingourprecisionmanufacturingplatformandoutstandingcustomerchannels,ourlow-voltage,high-voltageandhigh-speedwireharness,connector,smartnetworkingandotherproductshaverapidlyenteredthesupplychainsofmajordomesticandforeigncustomers,accumulatedrichcasesofapplicationandbeenwidelyrecognizedbyourcustomers.Meanwhile,wekeeppacewithourpremiumcustomersathomeandabroad,accuratelygraspthedevelopmentdirectionoftechnologiesandtheindustry,andactivelypromotethetechnologicalupgradingofproductsandreductionofcoststhroughtechnology,tocontinuouslyprovideourcustomerswithproductsandsolutionsthatarecompetitiveinbothtechnologyandbusiness.
5.Mainmarketandbusinessdevelopment
Eachmainfieldinwhichweoperatehasahugemarket.Wehavesubstantiallythesameresolutionandpersistenceinpursuinggrowthineachfield.Fromtheperspectiveofsustainabledevelopment,ourtoppriorityistoinvestinthefuture.In2020,ourR&DexpensestotaledRMB5.745billion.Inthefuture,wewillcontinuetoinvestinallmainfieldsofproductsandbusiness,makeforward-lookingdeployments,andpreventandcontrolrisks,torealizehealthydevelopment.
Growthofmainbusiness | ||||
Areaofbusiness | Typeofbusiness/products | Marketsizein2020(inRMB100million) | Compoundannualgrowthrateofmarketsize | Source |
Consumerelectronics | Smartphone | 27?915 | 3.60% | IDS,Statista |
PC | 11?010 | 0.20% | Gartner,IDS,Statista | |
AR/VR | 782 | 56.90% | IDC |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
TWS | 3?731 | 18.60% | MarketsandMarkets | |
Smartwatch | 1?605 | 19.60% | AlliedMarketResearch | |
Wirelesscharging | 820 | 14.50% | GlobalMarketInsights | |
UAV | 668 | 14% | EastMoney,InteractiveAnalysis | |
Dock/Dongle | 434 | 2.50% | Industryreport,internalanalysis | |
Subtotal | 46?964 | |||
Communication | ICTequipment | 11?137 | 5% | IDC |
Cable/connector | 2?110 | 8% | Bishop | |
Opticalproducts | 716 | 10% | LightCounting | |
Subtotal | 13?964 | |||
Automotive | Wireharness | 2?908 | 3.10% | MarketsandMarkets |
Connector | 1?265 | 5% | ResearchandMarkets | |
ADAS | 2?358 | 20.7% | MarketsandMarkets | |
Smartcabin | 3?486 | 11% | AlliedMarketResearch,Stratreview,StatistaResearchDepartment | |
Smartconnectivity | 45 | 44.20% | MarketsandMarkets | |
Subtotal | 10?061 | |||
Total | 70?990 |
Duringthereportingperiod,werankedthesecondonthe33
rd
listoftop100electroniccomponentmanufacturersofChina(2020)publishedbytheChinaElectronicComponentsAssociation,andwereawardedthehonorabletitlesof“top500privateenterprisesofChina”,“top500privatemanufacturersofChina”,“top100electronicinformationmanufacturersofGuangdong”and“40mostrespectedlistedcompaniesoftheShenzhenSpecialEconomicZoneinthepast40years”,amongothers.II.Materialchangesinmajorassets
1.Materialchangesinmajorassets
Majorassets | Reasonofmaterialchanges |
Equityassets | Nomaterialchange |
Fixedassets | A44.16%increaseyearonyear,primarilyduetoanincreaseininvestmentinfactorybuildings,dormitoriesandequipment |
Intangibleassets | Nomaterialchange |
Constructioninprogress | A84.40%increaseyearonyear,primarilyduetoanincreaseininvestmentinuncompletedfactorybuildinganddormitoryconstructionprojectsandequipment |
Short-termborrowings | A81.87%increaseyearonyear,primarilyduetoanincreaseinborrowingsforworkingcapitalpurpose |
inventories | A71.55%increaseyearonyear,primarilyduetoanincreaseininventorystoragelevelalongwithourbusinessgrowth |
Notespayable | A37.74%decreaseyearonyear,primarilyduetoadecreaseinnotetransactions |
Deferredincome | A66.11%increaseyearonyear,primarilyduetoanincreaseingovernmentgrantsascapitalcontribution |
Accountspayable | A33.49%increaseyearonyear,primarilyduetoanincreaseininventorystoragelevelalongwithourbusinessgrowth |
2.Majoroverseasassets
□Applicable√N/A
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
III.Analysisofcorecompetencies
Sinceourestablishment,wehaveadheredtoouroriginalintention,focusedonprecisionmanufacturing,perseveredinsystematicthoughtandprocessinnovation,keptpacewiththetimes,continuouslyinnovatedintraditionalsolutions,andbeencommittedtoprovidingourcustomerswithcompleteandperfectcomprehensivesolutions.Afteryearsofforward-lookingdeployment,deepploughingandintensivecultivation,wehaveachievedcontinuousandrapidgrowth,andgainedcorecompetitiveadvantagesinhumanresources,strategicdeployment,technologicalinnovation,qualityassurance,customerserviceandotherareas.Ourcorecompetenciesarereflectedinthefollowingaspects:
1.Talentselection,training,useandretentionmechanismsdeeplyintegratedwithcorporateculture
Thecorecompetenciesofacompanywillbeultimatelyreflectedinthesoftpowerarisingfromin-depthintegrationandmutualnourishmentoftalentsandcorporateculture.Coretalentsarethebasisforthesustainabledevelopmentofacompanyandthecornerstoneforcultivatingthetalentsrequiredbyacompany.Wehaveadheredtothestrategyofinvigoratingthebusinessthroughtalents,andcontinuouslyimprovedourtalentechelonbuildingsystemandtalentpoolmechanism.Wevigorouslyrecruitoutstandingtalentsrequiredinourdevelopmentwhorecognizeandconformtothedistinctivecharacteristicsofourcorporateculture,tocontinuouslyaugmentourteamofcoretalents.Ontheotherhand,wecontinuouslyimproveourtalenttrainingsystemandtalentselectionsystem.Alongwiththegrowthofourbusiness,wecontinuouslyputforwardnewandreasonablerequirementsforouremployees,encouragethemtomakeselfbreak-throughintheboundaryoftheircapabilities,andcontinuouslyimprovetheirpersonalcompetencesandmanagementcapabilities,tocontributenewenergytoourdevelopment.Underthenurtureofourcorporatecultureofbeingpragmaticandenterprising,constantlystrivingforperfection,andfulfillingthemissions,weprovidedthekeyemployeeswithavastspacetoexercisetheirtalents,effectivelystimulatedtheirsenseofmission,senseofachievementandsenseofcollectivehonor.Atpresent,wehaverecruitedoutstandingtalentsinmaterials,automation,electronicinformation,molds,businessmanagementandotherfieldsthroughouttheworld,tocreateatalentpoolforoursustainabledevelopment.
Weclearlyknowhowtoattractandretaintalents.Todevelopavirtuouscircleofpeoplecreatingtheenvironmentandtheenvironmentcreatingpeoplethroughin-depthintegrationoftalentsandcorporatecultureisourstrongestcorecompetency.Througheffectivetalentmechanisms,wehavesufficienttalentsinourtraditionalsuperiorfields,andhavelaidthefoundationforourrapiddevelopmentinnewareasandscopesofbusiness.
2.Combinationofforward-lookingdeploymentwithR&Dandtechnologicalinnovation
Ourmanagementcloselyfollowsuponmarkettrendsanddevelopmentsoftheindustry,throughindustrialresearchesandinternalseminars,reviewsourdevelopmentsituations,analyzestheboundariesofourbusiness,enhancestheimplementationofthe“twofive-year”strategicplan,andcontinuouslyexploresthewaysofdiversifiedinnovationsanddevelopment.Ourdevelopmenttowardsnewproductsandnewareasisbasedonmulti-dimensionalanalysisofcustomerdemands,competitors,thevaluewecanprovide,thespacewecanplay,profitabilityandotheraspectsoftheindustryandcustomers,anddetailedsandtableexercisebyourcoremanagement.Withrespecttothevaluethatwecanprovidetoourcustomers,inadditiontoourverticallyintegratedone-stopservicecapabilities,wealsoattachgreatimportancetomasteringthetechnologiesofandintegratingrelatedmodules,tominimizerepeatedinputofresources,increasetheyieldrate,andproduceamultiplyingeffect,soastoreducetheoverallcostsofcustomersandensureourreturnoninvestment.
WefirmlybelievethatR&Dandtechnologicalinnovationareanimportantmeanstorealizeforward-lookingdeployment,andwilldriveourdevelopment.Sinceourlisting,wehaveplacedR&Dandinnovationonanimportantpositioninourdevelopment,madecontinuousinvestmentsintechnologyR&D,vigorouslyupgradedtraditionalmanufacturingprocesses,continuouslyimprovedthelevelofautomaticproduction,andrealizedplatformizationofallprecisionmanufacturingprocesses.Wealsoattachgreatimportancetothelong-termdevelopmentofunderlyingmaterialsandinnovativeproductiontechnologies.OurR&Dteamhas
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
continuouslylearnedandexploredadvancedprecisionmanufacturingtechnologiesandproductapplicationsinthecountriesandregionsmasteringfrontiertechnologies,andestablishedanumberofadvancedtechnologydevelopmentlabswithcertaincorecustomers,tojointlydevelopfrontiertechnologies,suchastheform-in-placetechnology,AOIappearanceinspectionandlaserwelding.WehaveestablishedadvancedproductiontechnologyandmanufacturingprocessR&DplatformsinDongguan,Kunshan,TaiwanandtheUnitedStates,andownaR&Dandintelligentmanufacturingteamtakingtheleadintheindustry.
OurR&DexpensesaremainlyclassifiedintoearlystageR&Dexpensesandproductupgradingexpenses.EarlystageR&Dexpensesareincurredinconnectionwithmedium-to-longtermproductandbusinessplanninganddeployment,andcompriseinvestmentsinnewproductsandnewareasandR&Dexpensesrelatingtounderlyingtechnologies,accountingforabout30%ofourtotalR&Dexpenses.ProductupgradingexpensesareincurredintheprocessfromconcepttoNPI(newproductintroduction)ofnewsolutionsandnewproducts.AllearlystageR&Dexpensesandproductupgradingexpensesareexpensedasincurredtoreducethepressureofassetamortizationcostsinthefuture.OurR&Dexpenseshavebeencontinuouslyincreasing,andtotaledRMB12.636billioninthepastthreeyears.Inthereportingperiod,ourR&DexpensestotaledRMB5.745billion,representing6.21%ofoperatingrevenue.Asoftheendofthereportingperiod,weowned2?139validpatents.ThecontinuousandsteadyR&Dinvestmentswillnotonlyconsolidateourleadingpositionandadvantagesintheindustry,butalsoenhanceourriskbearingcapabilityinanever-changingmacroenvironment,andlayasolidfoundationforourcontinuousandrapiddevelopmentinthefuture.
3.Advancedmanufacturingandqualitymanagementsystem
Qualityisthefootholdofacompany,andoneofthemostimportantcorevaluesprovidedbyacompanytoitscustomers.Sinceourestablishment,wehaveadopted“qualityfirst”asoneofourcorporatevalues,establishedandimprovedthequalitymanagementsystemusingscientificandeffectivequalitymanagementapproaches,andintegratedqualityassuranceintothewholeprocessfromdesign,manufacturingtoinspectionofproducts.Duetoourexcellentqualityassurancecapability,wehavereceivedpraisefromourcustomerscontinuously,andenhancedcustomeradhesion.
WehaveafullsetofadvancedNPI(newproductintroduction)managementprocess,andcontrolqualityfromthedevelopmentanddesignofproducts,tolayasolidbasisforsuccessfulmassproductionoftheproducts.Intheeachstageofdevelopmentofanewproduct,suchasPOC(proofofconcept),Proto(modelverification),EVT(engineeringverificationtest),DVT(designverificationtest),PVT(processverificationtest)andMP(massproduction),etc.,wetakethehighestrequirementformassproductionthateachstageshouldsatisfyasthecriteriaforapprovalofentryintothenextstage.Weattachgreatimportancetoqualityprecautions,andimplementdesignqualitycontrolsfocusingonquality,cost,manufacturingandautomation,toshortentheperiodfromengineeringdevelopmenttomassproduction.
Asagloballeadingproviderofdiversifiedcomponentsolutions,high-qualityprecisionmanufacturinghasalwaysbeenoneofourcorecompetencies.Sinceourlisting,ourprecisionmanufacturingcapabilityhasdevelopedfrom“automationwithpassivepositioning”to“automationwithactivepositioning”andfinallyto“fullautomaticandintelligent”super-precisionmodularizedmanufacturingtoday.Intheautomaticmanufacturingofproducts,weconnectproductdesignwiththedesignofautomaticmanufacturingprocessseamlessly,andonthebasisofensuringourprocesscapabilityatkeyworkstationstakestheleadintheindustry,haveintroducedvisualrobotstoconductAOI(automaticopticalinspection),torealizeactiveandmutualpositioningbetweencomponentsandfixtures.Inaddition,weusebigdataandAItechnologies,inconjunctionwithourproprietaryalgorithms,tofeedbackreal-timemeasuringandtestingdata,therebyensuringthereliablequalityassuranceandfulltraceabilityofproducts,andenablingtheautomaticproductionlinestohavethedeeplearningcapability,torealizeclose-endcontrolovertheautomationtechnology.Throughtheintroductionofintelligentlogisticsandwarehousing,wehaveformallyenteredintothestageof“intelligentprecisionmanufacturing”from“precisionmanufacturing”intheearlystageand“qualityassuredprecisionmanufacturing”inthemiddlestage.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
4.All-roundcustomer-orientedculture
Sinceourestablishment,wehaveadheredtothephilosophyof“customerfirst”,andbeencommittedtoprovidingourcustomerswithcompleteandperfectcomprehensivesolutions,takingintocomprehensiveconsiderationresponsespeed,engineeringcooperation,servicequality,flexibledelivery,costcontrolandotherfactors.Ourleadingtechnologiesandexcellentqualityassurancecapabilityhavehelpedusbuildagoodbrandimageandreputationintheindustry,andbroughthigh-qualitycustomerstous.Afteryearsofcultivation,wehaveestablishedstablecooperationrelationshipswithalotofgloballeadingbrandsandmanufacturersinthefieldsofconsumerelectronics,communicationandautomotive.Overtheyears,wehavekeptpacewiththestrategicstepsmadebyourmajorcustomers,cautiouslyassessedthedevelopmenttrendsoftheindustryfromtheperspectiveofbrandcustomersandendconsumers,andmadeforward-lookingdeploymentstooccupythenewmarketsandnewchannels,toensurethatwemaintainthelead.Thinkwhatcustomersthinkandbeeagertohelpthecustomersinneed.Undertheguidanceoftheservicephilosophyof“customerfirst”,inadditiontofulfillingthetasksassignedbythecustomers,wehavealsocontinuouslyidentifiedthepainpointsofthecustomersintheirapplications,givenfullplaytoourresourceandplatformadvantages,andtakentheinitiativetoprovidethecustomerswithoptimizationproposalsandsuggestions,tohighlightourcompetencies.Inaddition,thehighstandardsandstrictrequirementsofourcorecustomershavepromotedcontinuousimprovementofourperformanceinproductionandmanufacturing,productR&D,internalmanagementandsocialresponsibility.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
SectionIV.DiscussionandAnalysisofBusinessSituations
I.Summary
Theyearof2020isayearinwhichopportunitiescoexistedwithchallenges.Thoughweweregreatlyaffectedbymanyexternalfactors,suchastheoutbreakofCOVID-19throughouttheworld,deeprecessionofglobaleconomy,increasinglyfiercetradefrictionsbetweenChinaandtheUnitedStates,increasinglycomplicatedglobalpoliticenvironment,challengesfromcompetitorsatthestageofourrapiddevelopment,andfluctuationsinforeignexchangerates,wefocusedonR&Dinvestment,intelligentmanufacturing,systemoptimizationandcustomerserviceinrespectofourmainbusiness,furtherimprovedanddefinedour“twofive-year”strategicplan,activelyimplementedthestrategicplanfromindustrialdeployment,talentpooling,technologyaccumulation,corporategovernanceandotheraspects,continuouslyimprovedthefeasibilityofthestrategicplanandourcorecompetencies,therebylayingasolidfoundationforourrapidgrowthin2020andlong-termsustainabledevelopmentinthefuture.
Duringthereportingperiod,oursalesrevenuestotaledRMB92.501billion,a47.96%increaseyearonyear;profittotaledRMB8.136billion,a44.37%increaseyearonyear;andnetprofitattributabletotheownersoftheparentcompanytotaledRMB7.225billion,a53.28%increaseyearonyear.
II.Analysisofmainbusiness
1.SummarySee“DiscussionandAnalysisofBusinessSituations-I.Summary”.
2.Revenueandcost
(1)Componentsofoperatingrevenue
InRMB
2020 | 2019 | Y/Y%Change | |||
Amount | %ofoperatingrevenue | Amount | %ofoperatingrevenue | ||
Totaloperatingrevenue | 92,501,259,211.54 | 100% | 62,516,314,588.42 | 100% | 47.96% |
Bysegment | |||||
Computerconnectivityproductsandprecisioncomponents | 3,521,361,712.58 | 3.81% | 4,113,230,173.74 | 6.58% | -14.39% |
Automotiveconnectivityproductsandprecisioncomponents | 2,844,031,362.75 | 3.07% | 2,361,411,620.89 | 3.78% | 20.44% |
Communicationconnectivityproductsandprecisioncomponents | 2,265,420,000.59 | 2.45% | 2,237,143,681.55 | 3.58% | 1.26% |
Consumerelectronics | 81,818,160,358.88 | 88.45% | 51,990,381,762.58 | 83.16% | 57.37% |
Otherconnectorsandotherbusiness | 2,052,285,776.74 | 2.22% | 1,814,147,349.66 | 2.90% | 13.13% |
Byproduct | |||||
Computerconnectivityproductsandprecisioncomponents | 3,521,361,712.58 | 3.81% | 4,113,230,173.74 | 6.58% | -14.39% |
Automotiveconnectivityproductsandprecisioncomponents | 2,844,031,362.75 | 3.07% | 2,361,411,620.89 | 3.78% | 20.44% |
Communicationconnectivityproductsandprecisioncomponents | 2,265,420,000.59 | 2.45% | 2,237,143,681.55 | 3.58% | 1.26% |
Consumerelectronics | 81,818,160,358.88 | 88.45% | 51,990,381,762.58 | 83.16% | 57.37% |
Otherconnectorsandotherbusiness | 2,052,285,776.74 | 2.22% | 1,814,147,349.66 | 2.90% | 13.13% |
Byregion | |||||
Domesticmarket | 7,454,978,348.07 | 8.06% | 5,050,930,778.32 | 8.08% | 47.60% |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Overseasmarket | 85,046,280,863.47 | 91.94% | 57,465,383,810.10 | 91.92% | 48.00% |
(2)Segments,productsorregionsrepresentingmorethan10%ofoperatingrevenueorprofit
√Applicable□N/A
InRMB
Operatingrevenue | Operatingcost | Grossmargin | Y/Y%Changeinoperatingrevenue | Y/Y%Changeinoperatingcost | Y/Y%Changeingrossmargin | |
Bysegment | ||||||
Computerconnectivityproductsandprecisioncomponents | 3,521,361,712.58 | 2,765,866,774.16 | 21.45% | -14.39% | -14.63% | 0.22% |
Automotiveconnectivityproductsandprecisioncomponents | 2,844,031,362.75 | 2,374,148,439.75 | 16.52% | 20.44% | 20.35% | 0.06% |
Communicationconnectivityproductsandprecisioncomponents | 2,265,420,000.59 | 1,818,503,189.96 | 19.73% | 1.26% | -1.67% | 2.39% |
Consumerelectronics | 81,818,160,358.88 | 67,217,502,600.73 | 17.85% | 57.37% | 61.60% | -2.15% |
Otherconnectorsandotherbusiness | 2,052,285,776.74 | 1,593,986,044.98 | 22.33% | 13.13% | 13.05% | 0.05% |
Byproduct | ||||||
Computerconnectivityproductsandprecisioncomponents | 3,521,361,712.58 | 2,765,866,774.16 | 21.45% | -14.39% | -14.63% | 0.22% |
Automotiveconnectivityproductsandprecisioncomponents | 2,844,031,362.75 | 2,374,148,439.75 | 16.52% | 20.44% | 20.35% | 0.06% |
Communicationconnectivityproductsandprecisioncomponents | 2,265,420,000.59 | 1,818,503,189.96 | 19.73% | 1.26% | -1.67% | 2.39% |
Consumerelectronics | 81,818,160,358.88 | 67,217,502,600.73 | 17.85% | 57.37% | 61.60% | -2.15% |
Otherconnectorsandotherbusiness | 2,052,285,776.74 | 1,593,986,044.98 | 22.33% | 13.13% | 13.05% | 0.05% |
Byregion | ||||||
Domesticmarket | 7,454,978,348.07 | 5,829,458,046.38 | 21.80% | 47.60% | 47.93% | -0.18% |
Overseasmarket | 85,046,280,863.47 | 69,940,549,003.20 | 17.76% | 48.00% | 51.63% | -1.97% |
Incaseofanyadjustmenttothestatisticscaleformainbusinessdata,themainbusinessdataofthemostrecentreportingperiodasadjustedaccordingtothestatisticscaleappliedattheendofthecurrentreportingperiod:
□Applicable√N/A
(3)WhethertheCompany’srevenuefromsalesoftangiblegoodsishigherthantherevenuefromlaborservice?
√Yes□No
Segment | Item | Unit | 2020 | 2019 | Y/Y%Change |
Computerconnectivityproductsandprecisioncomponents | Salesvolume | KPCS | 510,910 | 622,717 | -17.95% |
Output | KPCS | 537,997 | 650,147 | -17.25% | |
Inventories | KPCS | 27,087 | 27,430 | -1.25% | |
Automotiveconnectivityproductsandprecisioncomponents | Salesvolume | 1?000sets | 172,912 | 147,558 | 17.18% |
Output | 1?000sets | 184,502 | 157,518 | 17.13% | |
Inventories | 1?000sets | 11,590 | 9,960 | 16.37% |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Communicationconnectivityproductsandprecisioncomponents | Salesvolume | KPCS | 470,565 | 459,153 | 2.49% |
Output | KPCS | 514,389 | 500,872 | 2.70% | |
Inventories | KPCS | 43,824 | 41,719 | 5.05% | |
Consumerelectronics | Salesvolume | KPCS | 3,299,993 | 2,241,313 | 47.23% |
Output | KPCS | 3,661,402 | 2,412,810 | 51.75% | |
Inventories | KPCS | 361,409 | 171,497 | 110.74% | |
Otherconnectorsandotherbusiness | Salesvolume | KPCS | 312,258 | 287,716 | 8.53% |
Output | KPCS | 348,814 | 319,340 | 9.23% | |
Inventories | KPCS | 36,556 | 31,624 | 15.60% |
Analysisofchangesintherelevantdataover30%yearonyear:
□Applicable√N/A
(4)PerformanceofmaterialsalescontractsoftheCompanyasoftheendofthereportingperiod
□Applicable√N/A
(5)Componentsofoperatingcost
Classificationofsegmentsandproducts:
InRMB
Segment | Item | 2020 | 2019 | Y/Y%Change | ||
Amount | %ofoperatingcost | Amount | %ofoperatingcost | |||
Computerconnectivityproductsandprecisioncomponents | 2,765,866,774.16 | 3.65% | 3,239,777,227.31 | 6.47% | -14.63% | |
Automotiveconnectivityproductsandprecisioncomponents | 2,374,148,439.75 | 3.13% | 1,972,707,309.13 | 3.94% | 20.35% | |
Communicationconnectivityproductsandprecisioncomponents | 1,818,503,189.96 | 2.40% | 1,849,369,458.98 | 3.69% | -1.67% | |
Consumerelectronics | 67,217,502,600.73 | 88.72% | 41,595,999,770.77 | 83.08% | 61.60% | |
Otherconnectorsandotherbusiness | 1,593,986,044.98 | 2.10% | 1,409,976,187.77 | 2.82% | 13.05% |
InRMB
Product | Item | 2020 | 2019 | Y/Y%Change | ||
Amount | %ofoperatingcost | Amount | %ofoperatingcost | |||
Computerconnectivityproductsandprecisioncomponents | 2,765,866,774.16 | 3.65% | 3,239,777,227.31 | 6.47% | -14.63% | |
Automotiveconnectivityproductsandprecisioncomponents | 2,374,148,439.75 | 3.13% | 1,972,707,309.13 | 3.94% | 20.35% | |
Communicationconnectivityproductsandprecisioncomponents | 1,818,503,189.96 | 2.40% | 1,849,369,458.98 | 3.69% | -1.67% | |
Consumerelectronics | 67,217,502,600.73 | 88.72% | 41,595,999,770.77 | 83.08% | 61.60% | |
Otherconnectorsandotherbusiness | 1,593,986,044.98 | 2.10% | 1,409,976,187.77 | 2.82% | 13.05% |
Analysis:
None.
(6)Changeinthescopeofconsolidationduringthereportingperiod
√Yes□NoElevennewlyestablishedoracquiredsubsidiariesorsub-subsidiariesduringthereportingperiod,namelySuzhouLanto
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
ElectronicLimited,LuxsharePrecisionIndustry(Jiangsu)Co.,Ltd.,LuxshareElectronic(Xingning)Co.,Ltd.,LuxshareLanto(India)Limited,ChangshuLuxshareIndustrialInvestmentManagementCo.,Ltd.,KunshanLuxshareBusinessManagementDevelopmentCo.,Ltd.,KunshanLuxshareBusinessManagementServicePartnership(L.P.),LuxshareIntelligentEquipment(Kunshan)Co.,Ltd.LuxshareIntelligentManufactureTechnology(Rugao)Co.,Ltd.,CyberAcoustics,LLC(USA)(acquiredbysharepurchase)andTaiqiaoInvestmentCo.,Ltd.,areincludedinthescopeofconsolidation.SincewehavetransferredthesharesheldinLuxsharePrecisionIndustry(Xi’an)Ltd.duringthereportingperiod,itisremovedfromthescopeofconsolidation.
(7)Materialchangesoradjustmentsinrespectofbusiness,productsorservicesoftheCompanyduringthereportingperiod
□Applicable√N/A
(8)MajorcustomersandsuppliersMajorcustomersoftheCompany:
Aggregatesalesrevenuefromtop5customers(RMB) | 75,879,315,144.78 |
Proportionofaggregatesalesrevenuefromtop5customerstoannualsalesrevenue | 82.03% |
Proportionofaggregatesalesrevenuefromrelatedpartiesamongtop5customerstoannualsalesrevenue | 0.00% |
Particularsoftop5customers:
No. | Nameofcustomer | Salesrevenue(RMB) | %ofannualsalesrevenue |
1 | Customer1 | 63,842,579,978.12 | 69.02% |
2 | Customer2 | 4,233,870,465.51 | 4.58% |
3 | Customer3 | 3,919,586,381.66 | 4.24% |
4 | Customer4 | 2,499,522,718.90 | 2.70% |
5 | Customer5 | 1,383,755,600.58 | 1.50% |
Total | -- | 75,879,315,144.78 | 82.03% |
Otherinformationofmajorcustomers:
□Applicable√N/AMajorsuppliersoftheCompany:
Aggregatepurchaseamountfromtop5suppliers(RMB) | 28,624,009,739.41 |
Proportionofaggregatepurchaseamountfromtop5supplierstoannualpurchasecost | 39.54% |
Proportionofaggregatepurchaseamountfromrelatedpartiesamongtop5supplierstoannualpurchasecost | 0.00% |
Particularsoftop5suppliers:
No. | Nameofsupplier | Purchaseamount(RMB) | %ofannualpurchasecost |
1 | Supplier1 | 14,163,172,484.10 | 19.56% |
2 | Supplier2 | 8,330,757,002.45 | 11.51% |
3 | Supplier3 | 2,640,184,299.13 | 3.65% |
4 | Supplier4 | 1,893,165,690.84 | 2.62% |
5 | Supplier5 | 1,596,730,262.89 | 2.21% |
Total | -- | 28,624,009,739.41 | 39.54% |
Otherinformationofmajorsuppliers:
□Applicable√N/A
3.Expenses
InRMB
2020 | 2019 | Y/Y%Change | Reasonofmaterialchanges |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Salesexpenses | 477,047,875.58 | 498,274,838.05 | -4.26% | Primarilyduetotransferofthefreightoriginallyincludedinthe“salesexpenses”to“costofgoodssold”uponadoptionofthenewrevenueaccountingstandard |
Generalexpenses | 2,463,953,208.63 | 1,524,835,061.38 | 61.59% | Primarilyduetoanincreaseinmanagementpersonnelalongwithourbusinessgrowth |
Financialexpenses | 904,828,142.89 | 330,073,445.45 | 174.13% | Primarilyduetofluctuationsinforeignexchangerates |
R&Dexpenses | 5,744,805,136.33 | 4,375,970,646.47 | 31.28% | PrimarilyduetoinvestmentinnewR&Dprojectsandupgradingofproducts |
4.R&Dexpenses
√Applicable□N/AWefirmlybelievethatR&Dandtechnologicalinnovationareanimportantmeanstorealizeforward-lookingdeployment,andwilldriveourdevelopment.Sinceourlisting,wehaveplacedR&Dandinnovationonanimportantpositioninourdevelopment,madecontinuousinvestmentsintechnologyR&D,vigorouslyupgradedtraditionalmanufacturingprocesses,continuouslyimprovedthelevelofautomaticproduction,andrealizedplatformizationofallprecisionmanufacturingprocesses.Wealsoattachgreatimportancetothelong-termdevelopmentofunderlyingmaterialsandinnovativeproductiontechnologies.OurR&Dteamhascontinuouslylearnedandexploredadvancedprecisionmanufacturingtechnologiesandproductapplicationsinthecountriesandregionsmasteringfrontiertechnologies,andestablishedanumberofadvancedtechnologydevelopmentlabswithcertaincorecustomers,tojointlydevelopfrontiertechnologies,suchastheform-in-placetechnology,AOIappearanceinspectionandlaserwelding.WehaveestablishedadvancedproductiontechnologyandmanufacturingprocessR&DplatformsinDongguan,Kunshan,TaiwanandtheUnitedStates,andownaR&Dandintelligentmanufacturingteamtakingtheleadintheindustry.
OurR&DexpensesaremainlyclassifiedintoearlystageR&Dexpensesandproductupgradingexpenses.EarlystageR&Dexpensesareincurredinconnectionwithmedium-to-longtermproductandbusinessplanninganddeployment,andcompriseinvestmentsinnewproductsandnewareasandR&Dexpensesrelatingtounderlyingtechnologies,accountingforabout30%ofourtotalR&Dexpenses.ProductupgradingexpensesareincurredintheprocessfromconcepttoNPI(newproductintroduction)ofnewsolutionsandnewproducts.AllearlystageR&Dexpensesandproductupgradingexpensesareexpensedasincurredtoreducethepressureofassetamortizationcostsinthefuture.OurR&Dexpenseshavebeencontinuouslyincreasing,andtotaledRMB12.636billioninthepastthreeyears.Inthereportingperiod,ourR&DexpensestotaledRMB5.745billion,representing6.21%ofoperatingrevenue.Asoftheendofthereportingperiod,weowned2?139validpatents.ThecontinuousandsteadyR&Dinvestmentswillnotonlyconsolidateourleadingpositionandadvantagesintheindustry,butalsoenhanceourriskbearingcapabilityinanever-changingmacroenvironment,andlayasolidfoundationforourcontinuousandrapiddevelopmentinthefuture.ParticularsofR&Dexpenses:
2020 | 2019 | Y/Y%Change | |
NumberofR&Dpersonnel | 15,154 | 12,809 | 18.31% |
ProportionofR&Dpersonneltototalnumberofemployees | 8.79% | 9.33% | -0.54% |
AmountofR&Dexpenses(RMB) | 5,744,805,136.33 | 4,375,970,646.47 | 31.28% |
ProportionofR&Dexpensestooperatingrevenue | 6.21% | 7.00% | -0.79% |
AmountofR&Dexpensescapitalized(RMB) | 0.00 | 0.00 | 0.00% |
ProportionofcapitalizedR&DexpensestototalR&Dexpenses | 0.00% | 0.00% | 0.00% |
AnalysisofsignificantchangeintheproportionofR&Dexpensestooperatingrevenuecomparedwith2019:
□Applicable√N/AAnalysisandreasonablenessofsignificantchangeintheproportionofR&Dexpensescapitalized:
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
□Applicable√N/A
5.Cashflows
InRMB
Item | 2020 | 2019 | Y/Y%Change |
Cashprovidedbyoperatingactivities | 101,344,544,382.43 | 62,199,885,398.20 | 62.93% |
Cashusedinoperatingactivities | 94,471,332,896.38 | 54,733,897,223.87 | 72.60% |
Newcashflowsfromoperatingactivities | 6,873,211,486.05 | 7,465,988,174.33 | -7.94% |
Cashprovidedbyinvestmentactivities | 56,134,501,620.87 | 80,442,800,512.34 | -30.22% |
Cashusedininvestmentactivities | 65,282,235,798.95 | 86,740,415,996.54 | -24.74% |
Newcashflowsfrominvestmentactivities | -9,147,734,178.08 | -6,297,615,484.20 | 45.26% |
Cashprovidedbyfinancingactivities | 31,843,182,893.74 | 22,531,435,875.30 | 41.33% |
Cashusedinfinancingactivities | 25,056,689,251.71 | 21,459,077,099.60 | 16.76% |
Newcashflowsfromfinancingactivities | 6,786,493,642.03 | 1,072,358,775.70 | 532.86% |
Netincreaseincashandcashequivalents | 4,317,464,527.08 | 2,337,819,815.93 | 84.68% |
Analysisofmaincausesofmaterialchangesintherelateddata:
√Applicable□N/A
1.Thecashprovidedbyoperatingactivitiesincreasedby62.93%yearonyear,primarilyduetoanincreaseincustomerorders,andthetaxrebatesandgovernmentgrantsreceived;
2.Thecashusedinoperatingactivitiesincreasedby72.6%yearonyear,primarilyduetoanincreaseininventorystoragelevelandemployeebenefitspayablealongwithourbusinessgrowth;
3.Thecashprovidedbyinvestmentactivitiesdecreasedby30.22%yearonyear,primarilyduetoadecreaseincashprovidedbyforwardexchangehedgingandwealthmanagementproducts;
4.Thecashusedininvestmentactivitiesdecreasedby24.74%yearonyear,primarilyduetoadecreaseininvestmentinwealthmanagementproducts;
5.Thecashprovidedbyfinancingactivitiesincreasedby41.33%yearonyear,primarilyduetoanincreaseinborrowings;
6.Thecashusedinfinancingactivitiesincreasedby16.76%yearonyear,primarilyduetoanincreaseinrepaymentofloansandinterestexpenses.Analysisofsignificantdifferencebetweennetcashflowsfromoperatingactivitiesduringthereportingperiodandnetprofitincurrentyear:
□Applicable√N/A
III.Analysisofnon-mainbusiness
√Applicable□N/A
InRMB
Amount | %oftotalprofit | Reason | Whetherornotsustainable | |
Investmentincome | 648,357,066.36 | 7.97% | Revenuefrominvestmentsandwealthmanagementproductsclassifiedasfinancialassetsatfairvaluethroughprofitorloss | No |
Gainorlossonchangesinfairvalue | 329,044,852.43 | 4.04% | Revenuefrominvestmentsclassifiedasfinancialassetsatfairvaluethroughprofitorloss | No |
Impairmentlossonassets | -139,288,911.05 | -1.71% | Allowanceforimpairmentofinventoriesand | No |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
fixedassets | ||||
Non-operatingincome | 21,932,288.24 | 0.27% | Revenuefromretirementofassets | No |
Non-operatingexpenses | 53,956,792.78 | 0.66% | Lossondisposaloffixedassets | No |
Gainondisposalofassets | -2,309,694.02 | -0.03% | Disposalofproductionequipment | No |
Othergains | 450,748,795.89 | 5.54% | Governmentgrantsrelatedtoincome | No |
Creditloss | -8,590,000.67 | -0.11% | Impairmentlossonaccountsreceivableandotherreceivables | No |
IV.Analysisofassetsandliabilities
1.MaterialchangesincomponentsofassetsSinceJanuary1,2020,weinitiallyadoptedthenewrevenueaccountingstandardorthenewleaseaccountingstandardandadjustedthebeginningbalancesofrelatedfinancialstatementitems.Applicable
InRMB
December31,2020 | January1,2020 | Y/Y%Change | Reasonofmaterialchange | |||
Amount | %oftotalassets | Amount | %oftotalassets | |||
Cashandbankbalances | 10,528,245,765.93 | 15.04% | 6,180,466,259.01 | 12.52% | 2.52% | |
Accountsreceivable | 13,839,155,340.47 | 19.77% | 13,243,625,572.22 | 26.82% | -7.05% | Primarilyduetoanincreaseintheaccountsreceivablerecoveredduetooptimizationofcredittermstocustomers |
Inventories | 13,211,009,381.15 | 18.87% | 7,700,857,888.16 | 15.60% | 3.27% | Primarilyduetoanincreaseininventorystoragelevelalongwithourbusinessgrowth |
Investmentproperties | 47,592,110.24 | 0.07% | 52,656,477.74 | 0.11% | -0.04% | |
Long-termequityinvestment | 1,208,540,333.29 | 1.73% | 303,050,580.10 | 0.61% | 1.12% | Primarilyduetoanincreaseininvestmentinassociates |
Fixedassets | 19,761,012,854.95 | 28.22% | 13,707,298,535.36 | 27.76% | 0.46% | Primarilyduetotransferoffactorybuildinganddormitoryconstructionprojectsofsubsidiariestofixedassetsandanincreaseininvestmentinequipment |
Constructioninprogress | 1,596,064,894.58 | 2.28% | 865,549,438.56 | 1.75% | 0.53% | Primarilyduetoanincreaseinnewfactorybuildinganddormitoryconstructionprojectsofsubsidiariesandequipmentthathasnotyetbeenaccepted |
Short-termborrowings | 7,577,068,798.49 | 10.82% | 4,166,302,223.17 | 8.44% | 2.38% | Primarilyduetoanincreaseinborrowings |
Long-termloans | 1,495,199,238.41 | 2.14% | 1,562,908,824.30 | 3.17% | -1.03% | |
Advancestosuppliers | 183,886,937.70 | 0.26% | 212,018,611.91 | 0.43% | -0.17% | Primarilyconsistingofacquisitionofmoldsandfixturesandpaymentofsecuritydeposit |
Otherreceivables | 407,990,780.79 | 0.58% | 338,237,923.96 | 0.68% | -0.10% | Primarilyduetoanincreaseinadvancesforcustomers |
Othercurrentassets | 1,804,485,645.49 | 2.58% | 1,484,451,151.73 | 3.01% | -0.43% | Primarilyduetoanincreaseinprepaidincometaxand |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
deductibleinputtax | ||||||
Long-termdeferredexpenses | 488,087,044.97 | 0.70% | 352,042,451.40 | 0.71% | -0.01% | Primarilyconsistingofroutinerenovationexpensesoffactorybuildingsandworkshops |
Othernon-currentassets | 1,223,199,642.61 | 1.75% | 1,432,566,528.37 | 2.90% | -1.15% | Primarilyconsistingofequipment,projectandlandcostsprepaid |
Notespayable | 128,572,111.54 | 0.18% | 206,496,660.20 | 0.42% | -0.24% | Primarilyduetoadecreaseinnotetransactions |
Accountspayable | 23,051,557,603.83 | 32.92% | 17,268,223,180.16 | 34.97% | -2.05% | Primarilyduetoanincreaseininventorystoragelevelalongwithourbusinessgrowth |
Otherpayables | 146,162,097.14 | 0.21% | 352,390,271.77 | 0.71% | -0.50% | |
Othercurrentliabilities | 623,257,555.89 | 0.89% | 646,115,152.49 | 1.31% | -0.42% | Issuanceofshort-termbonds |
Deferredincome | 425,345,982.64 | 0.61% | 256,059,554.91 | 0.52% | 0.09% | Primarilyduetoanincreaseingovernmentgrantsascapitalcontribution |
Deferredtaxliabilities | 966,092,212.95 | 1.38% | 598,184,393.00 | 1.21% | 0.17% |
2.Assetsandliabilitiesatfairvalue
□Applicable√N/A
3.Encumbrancesonassetsasoftheendofthereportingperiod
Asoftheendofthereportingperiod,ourmainassetsarefreeandclearofanysequestration,attachment,freeze,mortgageorpledge,oranyconditionforandprohibitiononliquidation,andcouldbeusedtosetoffliabilities.
V.Analysisofinvestments
1.Overallsituation
√Applicable□N/A
Amountofinvestmentin2020(RMB) | Amountofinvestmentin2019(RMB) | Y/Y%Change |
3,122,574,000.00 | 1,302,756,044.42 | 139.69% |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
2.Majorequityinvestmentsacquiredinthereportingperiod
√Applicable□N/A
InRMB
Investee | Mainbusiness | Methodofinvestment | Amountofinvestment | Shareholdingpercentage | Sourceoffunds | Partner | Termofinvestment | Producttype | Statusasofthebalancesheetdate | Expectedincome | Investmentincome/lossinthereportingperiod | Whetherornotinvolvedinanylitigation | Dateofdisclosure(ifany) | Reference(ifany) |
LuxshareChangshu | Businesssubjecttolicensing:importandexportofgoods;importandexportoftechnologies.Businessnotsubjecttolicensing:manufacturingofelectroniccomponentsandelectro-mechanicalcomponents;salesofelectroniccomponentsandelectro-mechanicalcomponents;salesofpowerelectroniccomponents;manufacturingofwearablesmartequipment;salesofwearablesmartequipment;manufacturingofcommunicationequipment;salesofcommunicationequipment;manufacturingofopto-electroniccomponents;salesofopto-electroniccomponents;manufacturingofspecialrubberprocessingequipment;salesofspecial | Capitalinjection | 615,000,000.00 | 100.00% | Self-ownedfunds | N/A | Long-term | Electroniccomponents | Paidinfull | 0.00 | 0.00 | No | April21,2020 | AnnouncementNo.2020-028 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
rubberprocessingequipment;manufacturingofcomputersoftware,hardwareandperipherals;technicalservices,technologydevelopment,technicalconsulting,technicalexchanges,technologytransferandtechnologypromotion;leaseofnon-residentialproperties. | ||||||||||||||
LantoKunshan | Computerperipherals,connectionlinesandconnectors;new-typeelectroniccomponents(electronicdevices),instrumentsandaccessoriesforcommunicationandITpurpose,plastic,rubberandhardwareproducts;research,development,productionandsalesofspecialelectronicequipment,testinginstruments,tools,molds,remotecontroldynamicmodelsandrelatedsuppliesandcomponents;productionandsalesofpowersupplyunitsandwirelesstransmissionproducts;developmentofsoftware;importandexportofgoodsandtechnology(exceptany | Capitalinjection | 1?100,000,000.00 | 100.00% | Offeringproceeds | N/A | Long-term | Smartmobileterminalmodules | Paidinfull | 0.00 | 0.00 | No | December3,2020 | AnnouncementNo.2020-101 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
businessthatissubjecttolicensing,restrictedorprohibitedpursuanttotheapplicablelawsandadministrativeregulations)(anybusinesssubjecttoapprovalaccordingtolawmayonlybeoperatedwiththeapprovalofthecompetentauthorities).Businessnotsubjecttolicensing:manufacturingofautomotivecomponentsandaccessories;researchanddevelopmentofautomotivecomponents;wholesaleofautomotivecomponentsandaccessories;salesofmechanicalpartsandcomponents;manufacturingofopto-electroniccomponents;salesofopto-electroniccomponents;researchanddevelopmentofspecialelectronicmaterials;researchanddevelopmentofhouseholdappliances. | ||||||||||||||
LuxshareKunshan | Developmentandproductionofopto-electronicswitches,smartsensors,new-typeinstrumentcomponents,opto-electronicdevices,ITandcommunication | Capitalinjection | 600,000,000.00 | 100.00% | Offeringproceeds | N/A | Long-term | Smartwearableequipmentcomponents | Paidinfull | 0.00 | 0.00 | No | December3,2020 | AnnouncementNo.2020-101 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
integratedcircuitchipsandproducts;salesofintegratedcircuitchipsandproducts;manufacturingofsmarthomedevices;salesofsmarthomedevices;technicalservices,technologydevelopment,technicalconsulting,technicalexchanges,technologytransferandtechnologypromotion;technologypromotionandapplicationservices;dataprocessingandstoragesupportservices;informationtechnologyconsultingservices. | ||||||||||||||
Total | -- | -- | 2?315,000,000.00 | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | -- | -- | -- |
3.Majornon-equityinvestmentsthathavenotyetbeencompletedinthereportingperiod
□Applicable√N/A
4.Investmentinfinancialassets
(1)Investmentinsecurities
√Applicable□N/A
InRMB
Typeofsecurity | Securitycode | Shortname | Initialinvestmentcost | Methodofmeasurement | Beginningcarryingamount | Gainorlossonchangesinfairvalueinthereportingperiod | Aggregatechangesinfairvaluerecordedinequity | Amountacquiredinthereportingperiod | Amountsoldinthereportingperiod | Gainorlossinthereportingperiod | Endingcarryingamount | Accountingitem | Sourceoffunds |
Stocklistedondomesticoroverseasmarket | 603595 | TonyElectronic | 22,500,000.00 | Fairvalue | 170,733,150.00 | -26,855,115.76 | 80,625,922.54 | 0.00 | 29,656,715.20 | -21,944,054.56 | 114,221,319.04 | Investmentinotherequityinstruments | Self-ownedfunds |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Total | 22,500,000.00 | -- | 170,733,150.00 | -26,855,115.76 | 80,625,922.54 | 0.00 | 29,656,715.20 | -21,944,054.56 | 114,221,319.04 |
Disclosuredateoftheannouncementoftheboardofdirectorsapprovingtheinvestmentinsecurities | |||||||||
Disclosuredateoftheannouncementoftheshareholders’meetingapprovingtheinvestmentinsecurities(ifany) |
(2)Investmentinderivatives
√Applicable□N/A
InRMB0’000
Counterparty | Affiliation | Whetherornotarelated-partytransaction | Typeofderivative | Initialinvestmentcost | Dateofcommencement | Dateoftermination | Beginningbalance | Amountacquiredinthereportingperiod | Amountsoldinthereportingperiod | Allowanceforimpairmentloss(ifany) | Endingbalance | Ratioofendingbalancetothenetassetasattheendofthereportingperiod | Actualgainorlossinthereportingperiod |
Bank | Non-affiliate | No | Forwardexchangecontract | 2,263,77.69 | 226,377.69 | 1,363,352.75 | 1,541,185.19 | 48,545.26 | 1.73% | 22,221.35 | |||
Bank | Non-affiliate | No | Foreignexchangeoption | 1,203,39.45 | 120,339.45 | 1,623,068.88 | 1,279,487.94 | 463,920.39 | 16.51% | 28,584.2 | |||
Total | 3,467,17.14 | -- | -- | 346,717.14 | 2,986,421.63 | 2,820,673.13 | 512,465.65 | 18.24% | 50,805.55 | ||||
Sourceoffunds | Self-ownedfunds | ||||||||||||
Whetherornotinvolvedinanylitigation | N/A | ||||||||||||
Disclosuredateoftheannouncementoftheboardofdirectorsapprovingtheinvestmentinderivatives(ifany) | August20,2019 | ||||||||||||
April20,2020 | |||||||||||||
Disclosuredateoftheannouncementoftheshareholders’meetingapprovingtheinvestmentinderivatives(ifany) | May13,2020 | ||||||||||||
Analysisofrisksassociatedwiththederivativesheldinthereportingperiod(includingwithoutlimitationmarketrisk,liquidityrisk,creditrisk,operationalriskandlegalrisk)andrelatedriskcontrolmeasures | 1.Weconductforeignexchangederivativetransactionsforthepurposeoffixingcosts,andavoidingandpreventingforeignexchangeandinterestraterisks,andprohibitanyspeculation.2.Wehaveestablishedstrictbusinessmanagementpolicyregardingfinancialderivativetransactions,whichcontainexplicitprovisionsontheprincipleofoperation,approvingpower,internaloperatingprocess,informationsegregationmeasures,internalriskcontrols,informationdisclosureandotherissuesrelatingtofinancialderivativetransactions,tocontroltherisksassociatedwithsuchtransactions.3.Wecarefullyexaminethetermsofcontractsenteredintowiththerelevantbanks,andstrictlyimplementtheriskmanagementpolicytopreventlegalrisks. |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
4.OurFinanceDepartmentcontinuouslyfollowsuponthechangesinthemarketpriceorfairvalueoftherelevantforeignexchangederivatives,promptlyassessesthechangesinriskexposuresofsuchforeignexchangederivatives,reportstothemanagementonaregularbasis,promptlyreportstheabnormalsituationsdiscovered,callsattentiontotherelevantrisks,andtakestheappropriateemergencymeasures.5.Inordertopreventanydelayinthedeliveryofforwardexchangecontracts,weattachgreatimportancetothemanagementofaccountsreceivable,andhaveestablishedsafetymanagementmeasurestopreventanydelayinthepaymentofaccountsreceivable.6.OurInternalAuditDepartmentisresponsibleforsupervisingandauditingthedecision-making,management,executionandotherissuesinrespectofforeignexchangederivativetransactions. | |
Changesinthemarketpriceorfairvalueofthederivativesheldinthereportingperiod(intheanalysisofthefairvalueofderivatives,thespecificapproaches,assumptionsandparametersusedshallbedisclosed) | ChangeinthefairvalueofaforeignexchangederivativeisthedifferencebetweenitsfairmarketpriceinthemonthinwhichthedeliverydatedeterminedbytheCompanyfallsanditscontractprice. |
Whetherthere’sanymaterialchangeintheaccountingpoliciesandaccountingprinciplesforthemeasurementofderivativesinthereportingperiodascomparedwiththeprecedingreportingperiod | Nomaterialchange |
SpecialopinionissuedbytheindependentdirectorsregardingtheCompany’sinvestmentinderivativesandrelatedriskcontrolmeasures | WeconductforeignexchangederivativetransactionsforthepurposeofavoidingforeignexchangeriskarisingfromfluctuationsintheforeignexchangeratesofRMB,andeffectivelycontrollingtheuncertaintiesofcostscausedbyforeignexchangerisk.WehaveestablishedtheBusinessManagementPolicyRegardingFinancialDerivativeTransactions,toenhanceriskmanagementandcontroloverforeignexchangederivativetransactions.Inaddition,weonlyprovideself-ownedfunds,ratherthananyofferingproceeds,asdepositforderivativetransactions.Thereview,votingandotherproceduresrelatingtosuchtransactionshavecompliedwiththeCompanyLaw,theAOAandotherapplicableregulations. |
5.Useofofferingproceeds
√Applicable□N/A
(1)Descriptionofuseofofferingproceeds
√Applicable□N/A
InRMB0’000
Yearofoffering | Methodofoffering | Totalofferingproceeds | Totalamountofofferingproceedsusedinthereportingperiod | Aggregateamountofofferingproceedsthathasbeenused | Totalamountofofferingproceedswhosepurposewaschangedinthereportingperiod | Aggregateamountofofferingproceedswhosepurposehasbeenchanged | Percentageofofferingproceedswhosepurposehasbeenchanged | Totalamountofunusedofferingproceeds | Purposeandwhereaboutsofunusedofferingproceeds | Totalamountofofferingproceedsthathasremainedunusedformorethantwoyears |
2020 | Publicofferingofconvertiblecorporatebonds | 300?000 | 274?402.76 | 274?402.76 | 0 | 0 | 0.00% | 24?412.95 | Tocontinuetobeusedintheinvestmentprojectsforwhichthefundswereraised | 0 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Total | -- | 300?000 | 274?402.76 | 274?402.76 | 0 | 0 | 0.00% | 24?412.95 | -- | 0 |
Descriptionofuseofofferingproceeds | ||||||||||
PursuanttotheReplyonApprovalofPublicOfferingofConvertibleCorporateBondsbyLuxsharePrecisionIndustryCo.,Ltd.fromtheChinaSecuritiesRegulatoryCommission,wepubliclyissued30?000?000convertiblecorporatebondsofparvalueofRMB100.00each,andraisedRMB3?000?000?000.00intotal.AfterdeductionoftheunderwriterfeeandsponsorfeeofRMB14,400,000.00(inclusiveoftax)paidtoourunderwriter,CITICSecuritiesCo.,Ltd.,thetotalsubscriptionamountreceivedwasRMB2?985?600?000.00,andafterdeductionoflegalfee,auditandcapitalverificationfee,creditratingfee,informationdisclosureandothercosts,thenetproceedsfromthisofferingwereRMB2?984?743?424.52.WehavealreadyinvestedRMB2?001?653?153.13ofself-raisedfundsintheprojectsforwhichthispublicofferingwasmadepriortothecompletionthereof,asverifiedbyBDOChinaShuLunPanCertifiedPublicAccountantsLLPinitsReportXinKuaiShiBaoZi[2020]No.ZB11783datedDecember1,2020.OnDecember2,2020,the27thmeetingofthe4thBoardofDirectorsreviewedandadoptedtheProposalonReplacementoftheSelf-raisedFundsInvestedinAdvancewiththeOfferingProceeds,approvingthereplacementoftheself-raisedfundsinvestedintherelevantprojectswiththeofferingproceeds.Asoftheendofthereportingperiod,RMB2?744?027?590.66oftheofferingproceedshavebeenused,andtheremainingRMB244?129?528.55willcontinuetobeusedintheinvestmentprojectsforwhichthefundswereraised. |
(2)Projectsinwhichtheofferingproceedswereproposedtobeinvested
√Applicable□N/A
InRMB0’000
Committedinvestmentprojectanduseofover-raisedfunds | Whethertheprojecthasbeenchangedorpartiallychanged | Totalcommittedinvestmentamount | Totalinvestmentamountasadjusted(1) | Amountinvestedinthereportingperiod | Aggregateamountalreadyinvestedasoftheendofthereportingperiod(2) | Progressofinvestmentasoftheendofthereportingperiod(3)=(2)/(1) | Datethattheprojectisreadyforitsintendeduse | Profitearnedinthereportingperiod | Whethertheprojecthasproducedthedesiredresult | Whetherthere’sanysignificantchangeinthefeasibilityoftheproject |
Committedinvestmentproject | ||||||||||
Smartmobileterminalmoduleproductionlineupgradingandexpansionproject | No | 110,000 | 110,000 | 85,895.31 | 85,895.31 | 78.09% | March1,2021 | N/A | No | |
Smartwearableequipmentcomponentsproductionlineupgradingandexpansionproject | No | 60,000 | 60,000 | 60,006.53 | 60,006.53 | 100.01% | May1,2021 | 24,284.19 | Yes | No |
Newsmartwearableequipmentprojectwithanannualproductioncapacityof4millionsets | No | 60,000 | 60,000 | 60,026.57 | 60,026.57 | 100.04% | August1,2020 | 28,149.55 | Yes | No |
Replenishmentofworkingcapital | No | 70,000 | 70,000 | 68,474.34 | 68,474.34 | 97.82% | N/A | No | ||
Subtotal | - | 300,000 | 300,000 | 274,402.75 | 274,402.75 | - | - | 52,433.74 | - | - |
Useofover-raisedfunds | ||||||||||
N/A | ||||||||||
Total | - | 300,000 | 300,000 | 274,402.75 | 274,402.75 | - | - | 52,433.74 | - | - |
Failuretomeetthescheduledprogressandproducethedesiredresultandreason | None |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
thereof(pleasedescribeonaprojectbyprojectbasis) | |
Reasonofsignificantchangeinthefeasibilityoftheproject | None |
Amountanduseofover-raisedfundsandprogressofusethereof | N/A |
Changeintheplaceoftheprojectinwhichtheofferingproceedswereproposedtobeinvested | N/A |
Adjustmentofthemethodofimplementationoftheprojectinwhichtheofferingproceedswereproposedtobeinvested | N/A |
Fundsalreadyinvestedintheprojectinwhichtheofferingproceedswereproposedtobeusedandreplacementthereof | Applicable |
WehavealreadyinvestedRMB2?001?653?153.13ofself-raisedfundsintheprojectsforwhichthepublicofferingofconvertiblecorporatebondswasmadein2020priortothecompletionthereof,asverifiedbyBDOChinaShuLunPanCertifiedPublicAccountantsLLPinitsReportXinKuaiShiBaoZi[2020]No.ZB11783datedDecember1,2020. | |
Temporaryreplenishmentofworkingcapitalwiththeunusedofferingproceeds | N/A |
Amountofunusedofferingproceedsandreasonthereof | Applicable |
AsofDecember31,2020,theamountofunusedofferingproceedswasRMB244?129?528.55,becausetheprojectsforwhichthefundswereraisedhavenotyetbeencompleted. | |
Purposeandwhereaboutsofunusedofferingproceeds | AsofDecember31,2020,theamountofunusedofferingproceedswasRMB244?129?528.55,whichwillcontinuetobeusedintheinvestmentprojectsforwhichthefundswereraised. |
Problemsandothermattersexistingintheuseanddiscloseofofferingproceeds | None |
(3)Changesintheprojectsinwhichtheofferingproceedswereproposedtobeinvested
□Applicable√N/AThere’snochangeintheprojectsinwhichtheofferingproceedswereproposedtobeinvestedduringthereportingperiod.
VI.Salesofmaterialassetsandequities
1.Salesofmaterialassets
□Applicable√N/ANomaterialassethasbeensoldduringthereportingperiod.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
2.Salesofmaterialequities
□Applicable√N/A
VII.Analysisofmajorsubsidiariesandassociates
√Applicable□N/AMajorsubsidiariesandassociatesrepresentingmorethan10%ofthenetprofitoftheCompany:
InRMB
Companyname | Type | Mainbusiness | Registeredcapital | Totalassets | Netassets | Operatingrevenue | Operatingprofit | Netprofit |
LuxsharePrecision | Subsidiary | Purchaseandsalesofelectronicproducts,datalines,connectionlines,connectors,computerandperipherals,plasticandhardwareproducts. | USD5,000,000 | 32,284,326,513.88 | 2,323,353,125.61 | 109,759,456,057.38 | 1,615,400,931.36 | 1,609,358,980.43 |
ICT-Lanto | Subsidiary | SalesandservicesinrespectofinternalandexternalconnectionlinesforIT,communicationandconsumerelectronicapplications,andprecisionconnectors. | USD83?290?323 | 19,811,980,244.41 | 2,295,968,956.16 | 18,661,017,270.17 | 723,565,414.13 | 623,838,824.25 |
LuxshareChuzhou | Subsidiary | Productionandsalesofconnectorsandconnectionlinesforcomputers,mobilephones,videogameplayerandTVsets,componentsandaccessoriesofcommunicationelectronicproducts(includingelectroplating);importandexportofgoodsandtechnologiesproducedorownedbythecompanyorothers. | RMB758,000,000 | 4,150,155,423.19 | 1,278,729,481.97 | 6,784,222,671.10 | 472,207,421.00 | 419,408,183.61 |
LuxshareSuzhou | Subsidiary | Production,research,development,salesandafter-saleserviceinrespectofelectroniccomponents,communicationequipment,computerequipmentandaccessories,moldsandsmartequipment;salesofelectro-mechanicalequipment,mechanicalequipment,electricequipment,testingequipment,automaticequipmentandaccessories,molds,plasticproducts,metalproductsandfixtures;importandexportofgoodsandtechnologiesproducedorownedbythecompanyorothers;computersoftwaretechnologydevelopmentandtechnicalservice. | RMB130,000,000 | 4,333,258,665.17 | 150,418,237.90 | 5,054,378,359.97 | 34,721,128.06 | 35,446,246.97 |
LuxshareElectronicKunshan | Subsidiary | Developmentandproductionofopto-electronicswitches,smartsensors,new-typeinstrumentcomponents,opto-electronicdevices,ITandcommunicationproductsandconnectors,keyboards,keys,casings,new-typesiliconrubberelectroniccomponents,precisioncavitymolds,stampingmolds,connectionlinesandstereosystems;processingofwatchbands;salesofself-madeproductsandprovisionofafter-saleservicesinrespectofself-madeproducts;importand | RMB2?200?000?000 | 12,001,133,317.33 | 3,481,250,205.24 | 16,150,294,698.99 | 508,925,982.59 | 471,294,537.90 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
exportofgoodsandtechnologies(exceptanybusinessthatissubjecttolicensing,restrictedorprohibitedpursuanttotheapplicablelawsandadministrativeregulations).Businesssubjecttolicensing:productionofClassIImedicaldevices;productionofClassIIImedicaldevices;operationofClassIIImedicaldevices(anybusinesssubjecttoapprovalaccordingtolawmayonlybeoperatedwiththeapprovalofthecompetentauthorities,andonlythebusinessapprovedmaybeoperated);salesofClassIImedicaldevices;manufacturingofhardwareproducts;manufacturingofmetalfittingsforconstructionpurpose;manufacturingofmolds;manufacturingofsmartwearableequipment;salesofsmartwearableequipment(exceptanybusinesssubjecttoapprovalaccordingtolaw,allbusinessessetforthinthebusinesslicensemaybeoperatedaccordingtolaw);ClassIIvalue-addedtelecommunicationsbusiness(anybusinesssubjecttoapprovalaccordingtolawmayonlybeoperatedwiththeapprovalofthecompetentauthorities,andonlythebusinessapprovedmaybeoperated).Businessnotsubjecttolicensing:productionofClassImedicaldevices;salesofClassImedicaldevices;manufacturingofspecialelectronicequipment;salesofspecialelectronicequipment;developmentofsoftware;salesofsoftware;salesofelectronicproducts;manufacturingofindustrialrobots;salesofindustrialrobots;manufacturingofintegratedcircuitchipsandproducts;salesofintegratedcircuitchipsandproducts;manufacturingofsmarthomedevices;salesofsmarthomedevices;technicalservices,technologydevelopment,technicalconsulting,technicalexchanges,technologytransferandtechnologypromotion;technologypromotionandapplicationservices;dataprocessingandstoragesupportservices;informationtechnologyconsultingservices. | ||||||||
XiexunWan’an | Subsidiary | Productionandsalesofcomputerplugs,socketsconnectionlines,connectorsandperipherals,andprecisionmolds;importandexport;leaseofpersonalproperties,leaseofrealproperties. | RMB40,000,000 | 91,606,422.79 | 55,793,778.37 | 110,551,627.34 | 17,102,734.80 | 13,432,097.44 |
IntelligentManufactureJiangxi | Subsidiary | Businesssubjecttolicensing:importandexportofgoods;labordispatchagency.Businessnotsubjecttolicensing:productionofelectronicproducts;productionandsalesofmolds;engineeringandtechnologicalresearchandtestdevelopment;leaseofmachineryandequipment;leaseofhousing. | RMB1,000,000,000 | 12,402,377,058.98 | 3,873,240,094.92 | 30,782,037,561.69 | 1,817,153,947.59 | 1,601,025,929.37 |
XiexunJi’an | Subsidiary | Productionandsalesofcomputerplugs,sockets,connectionlines, | RMB114,718,979.44 | 1,033,316,723.64 | 605,537,980.23 | 1,555,954,367.44 | 212,026,774.51 | 184,486,502.75 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
connectorsandperipherals,precisionmolds,equipmentandcomponents,robotandprecisionmetalmolds,automaticequipment,metalfixturecomponents,andelectro-mechanicalequipment,processingofprecisionmachinery;leaseofpersonalproperties(equipmentonly),leaseofrealproperties;importandexport;medicalappliances,medicalequipment,personalprotectiveequipment,digitalelectronicsandnon-medicalmasks. | ||||||||
ShenzhenLuxshareAcousticsTechnologyLtd. | Subsidiary | Research,developmentandsalesofacousticequipment,connectionlines,connectors,electronicproductcomponents,plasticandhardwareproducts,moldsandantennas;domestictrade,importandexportofgoodsandtechnologies.Businesssubjecttolicensing:productionofacousticequipment,connectionlines,connectors,electronicproductcomponents,plasticandhardwareproducts,moldsandantennas. | RMB28,000,000 | 372,042,543.42 | 111,677,229.66 | 503,359,153.19 | 59,055,768.54 | 57,351,041.51 |
ASAPJiangxi | Subsidiary | Design,productionandsalesofelectricwiresandcables,plasticpellets,plasticandhardwareproducts,precisionmolds,digitalelectronicandelectronicITproductsystemassembly,high/lowfrequencydatatransmissionlines,connectors,computerperipherals,new-typeelectroniccomponents,dataandsignaltransmissionproducts,medicalappliances,medicalsupplies,smarthomeproducts;importandexport;leaseofrealproperties,leaseandsalesoftangiblepersonalproperties. | RMB100,924,134 | 2,576,102,683.61 | 1,151,641,604.13 | 3,754,815,702.92 | 329,181,986.13 | 289,120,853.13 |
LuxshareKunshan | Subsidiary | Production,processing,sale,developmentandtechnicalservicesinrespectofconnectionlines,connectors,computerperipherals,plasticandhardwareproducts,electroniccomponents,electronicproducts,autopartsandmolds;generalroadfreighttransport;importandexportofgoodsandtechnologies.Businessnotsubjecttolicensing:manufacturingofpowertransmission,distributionandcontrolequipment. | RMB508,000,000 | 1,810,081,314.95 | 872,544,352.85 | 1,964,407,964.66 | 150,975,911.60 | 143,239,129.03 |
LuxshareIntelligentManufacture | Subsidiary | Production,research,development,salesandafter-saleserviceinrespectofelectroniccomponents,communicationequipment,computerequipmentandaccessories,moldsandsmartequipment;importandexportofgoodsandtechnologiesproducedorownedbythecompanyorothers;computersoftwaretechnologydevelopmentandtechnicalservice. | RMB730?000?000 | 9,000,069,089.29 | 791,362,285.74 | 14,710,254,860.43 | 213,745,484.21 | 219,849,726.77 |
LantoKunshan | Subsidiary | Computerperipherals,connectionlinesandconnectors;new-typeelectroniccomponents(electronicdevices),instrumentsand | RMB2?320?000?000 | 14,619,086,843.05 | 6,894,362,002.01 | 17,722,033,259.25 | 1,759,503,741.45 | 1,573,288,589.26 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
accessoriesforcommunicationandITpurpose,plastic,rubberandhardwareproducts;research,development,productionandsalesofspecialelectronicequipment,testinginstruments,tools,molds,remotecontroldynamicmodelsandrelatedsuppliesandcomponents;productionandsalesofpowersupplyunitsandwirelesstransmissionproducts;developmentofsoftware;importandexportofgoodsandtechnology(exceptanybusinessthatissubjecttolicensing,restrictedorprohibitedpursuanttotheapplicablelawsandadministrativeregulations)(anybusinesssubjecttoapprovalaccordingtolawmayonlybeoperatedwiththeapprovalofthecompetentauthorities).Businessnotsubjecttolicensing:manufacturingofautomotivecomponentsandaccessories;researchanddevelopmentofautomotivecomponents;wholesaleofautomotivecomponentsandaccessories;salesofmechanicalpartsandcomponents;manufacturingofopto-electroniccomponents;salesofopto-electroniccomponents;researchanddevelopmentofspecialelectronicmaterials;researchanddevelopmentofhouseholdappliances. | ||||||||
LuxshareAutomationJiangsu | Subsidiary | Productionandsalesofrobots,precisionmetalmolds,automaticequipment,componentsofmetalfixturesandelectro-mechanicalequipment;processingofprecisionmachinery;importandexportofgoodsandtechnologiesproducedorownedbythecompany. | RMB30,000,000 | 658,138,687.34 | 323,667,889.00 | 766,700,321.47 | 86,580,029.79 | 82,205,745.40 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Subsidiariesacquiredanddisposedofduringthereportingperiod:
√Applicable□N/A
Companyname | Methodofacquisitionordisposalofsubsidiaryduringthereportingperiod | Effectontheproduction,operationandresultsoftheCompanytakenasawhole |
SuzhouLantoElectronicLimited | Newlyestablished | Nosignificanteffectontheproduction,operationandresultsoftheCompanytakenasawhole |
LuxsharePrecisionIndustry(Jiangsu)Co.,Ltd. | Newlyestablished | Nosignificanteffectontheproduction,operationandresultsoftheCompanytakenasawhole |
Luxshare-ICT(Vietnam)Limited | Purchaseofpartofshares | Nosignificanteffectontheproduction,operationandresultsoftheCompanytakenasawhole |
LuxshareElectronic(Xingning)Co.,Ltd. | Newlyestablished | Nosignificanteffectontheproduction,operationandresultsoftheCompanytakenasawhole |
LuxshareLanto(India)Limited | Newlyestablished | Nosignificanteffectontheproduction,operationandresultsoftheCompanytakenasawhole |
ChangshuLuxshareIndustrialInvestmentManagementCo.,Ltd. | Newlyestablished | Nosignificanteffectontheproduction,operationandresultsoftheCompanytakenasawhole |
KunshanLuxshareBusinessManagementDevelopmentCo.,Ltd. | Newlyestablished | Nosignificanteffectontheproduction,operationandresultsoftheCompanytakenasawhole |
LuxsharePrecisionAssemblies(Suzhou)Co.,Ltd. | Purchaseofpartofshares | Nosignificanteffectontheproduction,operationandresultsoftheCompanytakenasawhole |
ChangshuLizhenIntelligentManufactureTechnologyPartnership(L.P.) | Purchaseofpartofshares | Nosignificanteffectontheproduction,operationandresultsoftheCompanytakenasawhole |
KunshanLuxshareBusinessManagementServicePartnership(L.P.) | Newlyestablished | Nosignificanteffectontheproduction,operationandresultsoftheCompanytakenasawhole |
LuxshareIntelligentManufactureTechnology(Rugao)Co.,Ltd. | Newlyestablished | Nosignificanteffectontheproduction,operationandresultsoftheCompanytakenasawhole |
LuxshareIntelligentEquipment(Kunshan)Co.,Ltd. | Newlyestablished | Nosignificanteffectontheproduction,operationandresultsoftheCompanytakenasawhole |
DongguanLuxshareTechnologyLimitedQingxiBranch | Deregistered | Nosignificanteffectontheproduction,operationandresultsoftheCompanytakenasawhole |
LuxsharePrecisionIndustry(Xingning)Co.,Ltd.HuafengBranch | Deregistered | Nosignificanteffectontheproduction,operationandresultsoftheCompanytakenasawhole |
CyberAcoustics,LLC(USA) | Purchaseofshares | Nosignificanteffectontheproduction,operationandresultsoftheCompanytakenasawhole |
TaiqiaoInvestmentCo.,Ltd. | Purchaseofshares | Nosignificanteffectontheproduction,operationandresultsoftheCompanytakenasawhole |
LuxsharePrecisionIndustry(Xi’an)Co., | Salesofshares | Nosignificanteffectontheproduction, |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Ltd. | operationandresultsoftheCompanytakenasawhole |
Particularsofmajorcontrolledsubsidiariesandassociates:
VIII.StructuredentitiescontrolledbytheCompany
□Applicable√N/AIX.ProspectsforfuturedevelopmentoftheCompany
1.SituationsoftheindustryInrecentyears,thetraditionalconsumerelectronicterminalshavegraduallyadvancedfromthegrowthstageintothestageofcompetitionovertheexistingconsumers.AccordingtoIDC,afterthetotalshipmentshavebeendecreasingforthreeconsecutiveyears,drivenbythecontinuousrecoveryofmarketdemandsandincreaseintheproductioncapacityof5Gequipment,theglobalshipmentsofsmartphonesareexpectedtoincreaseby5.5%yearonyearin2021,andthecompoundannualgrowthrateoftheglobalshipmentsofsmartphonesisexpectedtoreach3.6%between2020and2025.Inaddition,alongwiththeadvancementof5GandAItechnologies,avarietyofsmartmobile,smartwearable,smarthome,smartdisplayandotherIoTequipmentisexpectedtobedeveloped.DrivenbytheIoTecologicsystemandmarkettrends,theterminalproductshavingsmartconnectivity,healthcheckandotherfunctionswilldeeplyaffectthehabitsandcustomsofpeople,andbewidelyacceptedbyconsumersofallagegroups.One-stopsolutionprovidersmasteringbetterprocesses,havingahigherdegreeofintegrationandrequiringlessresourcesaremorelikelytogetbusinessopportunitiesinrespectofrelatedcomponentsandfinishedproducts.Fromtheperspectiveofproducttechnology,thedevelopmentcourseofthecommunicationindustryissimilartothatoftheindustryofconsumerelectronics,withthehardwaredevelopingtowardsintegrationandsmallsize.Inthetechnologyevolutionfrom4Gto5G,basestationstendtohavemoreportsandmorewavenumbers.Smallsizeandweatherresistanceputforwardincreasinglyhighrequirementsforprecisionmanufacturing.Comparedwithmanufacturersoftraditionalcommunicationproducts,manufacturershavingexperienceintheprecisionmanufacturingofconsumerelectronicproductswilloccupyagoodpositionwhentheyshifttothenewcommunicationindustry.Thecommunicationconnectivitymarketiswitnessingrapidupgradingofproducts,andentersaneraoftremendousdata.Alongwiththesharpincreaseindatavolume,thedemandsforconnectivityproductsresponsiblefordataprocessingwillgrowsharply.Theautomotiveindustrywillcontinuetoadvancetowardsfourdirectionsoftechnologicalrevolution,namelysmartdrive,theInternetofVehicles,electricvehiclesandsharemobility.Facingsuchtrendsoftechnologicaldevelopment,moreandmoretraditionalcarmanufacturers,newplayersandsolutionprovidersbravethisnewwaveoftheprogressoftechnology.Theexistenceofavarietyofplayersontheautomotivemarketwillpromotetheindustrytomakeinnovations,bringmoreopportunitiesandchallengestocomponentmanufacturers,andputforwardconcentrationofhardware.Wehavebuiltacompletedevelopmentframeworkcoveringcomponents,modules,sub-systemsandwholesystems,andmadecompletedeploymentsforcoreproducts.
2.FuturegrowthstrategyOnthebasisofourcoremanagement’sforward-lookingplansinrespectofmarket,productsandcustomers,andthroughouremployees’unremittingeffortstoworkconscientiously,fulfillalltasksandmakeinnovations,wehavemadediversified,integratedandcoordinatedstrategicdeploymentsinthefieldsofconsumerelectronics,communicationandautomotive.Inlightofthenewmarketsituations,weclearlyknowthatopportunitiescoexistwithchallenges,andwillkeepinvestinginthefuture,andgivefullplaytoourstrongcorecompetenciesandadvantagesinvariousareas,toprovidemorecorevaluefortheindustryandourcustomers.
Inthenextfewyears,theconsumerelectronicsbusinesswillcontinuetooccupyanimportantpositioninourCompany.Wewillcontinuetoimplementanddeepentheconceptofverticalintegrationfromcomponents,modulestosystem,andstrivetochangethetraditionalsupplyideasandapproaches,restructurethesupplychainandmaximizethesynergyeffect,tocontinuetoimprove
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
ourcapabilitytocreatevalueforourcustomers.Meanwhile,withrespecttocertaincoremodulesandprocesses,wewillfollowthestrategicprincipleof“oldproducts,newcustomersandnewmarket”,strivetoextendanddeepentheapplicationofproducts,andincreasetheirsharesondifferentmarketsandindifferentcustomers,tofurtherimproveourabilitytopreventoperatingrisks.Inlightofthegeneraleconomicdevelopmenttrendofenhancinginternalcirculation,andthegeneralbackgroundthathugedemandsforconsumerelectronicproductsonthedomesticmarketwillbestimulated,thesmartconsumerelectronicproductsthatchangelifewithtechnologywillgrowvigorously.Byleveragingourremarkableadvantagesintechnologicalintegrationofdifferentplatformsandfunctionalmodules,onthebasisofadequateassessmentofreturnoninvestmentandrisks,wewilllaunchavarietyofcustomizedsmartproductsincooperationwithdifferentplatformcustomers,toenrichourproductofferings.Inthefieldofcommunicationconnectivity,throughfocusingontechnologydevelopmentandcombiningtheeffortsofenterprises,universitiesandresearchinstitutes,weareleadingthewayincertainmarketsegmentsintheworld.Inthefuture,wewilladheretothestrategicprincipleofintegrating“application,developmentandearlyresearch”,closelyfollowthemarkettrendsandfrontiertechnologies,andstrivetomakeall-roundbreakthroughonmoremarketsegments.Withrespecttotheradiofrequencycommunicationbusiness,wewillfocusonthestrategicplanof“corecomponents+modules+system”,makecontinuousinvestmentsindesignandR&D,improvethecapabilitytoproducecorecomponentsonourown,andimproveourinternaloperationefficiencythroughtransformationandupgradingtowardsdigitalization.Facingthebusinessopportunitiesintheautomotivefieldbroughtbysmartdrive,theInternetofVehicles,electricvehiclesandsharemobility,wewillcontinuetopaycloseattentiontoandmakeappropriatedeploymentsinthisfield,leverageourtechnologiesandexperienceaccumulatedinthefieldsofconsumerelectronicsandcommunicationconnectivity,anduseourmatureexperienceinprecisionmanufacturinganddevelopmentcapabilityinrespectofcommunicationlevelhigh-speedtransmission,aswellasthesmartandconvenientwirelesspowersupplytechnologyofconsumerelectronicproductsintheautomotivebusiness.Meanwhile,wewilldevelopmedium/high-powerautomotivewirelesschargingmoduletechnology,tograsptheopportunitiesthatwillbebroughtbytheliberalizationofpowersupplyonthefutureunmannedvehiclemarket.
3.BusinessplanforthenextyearIn2020,thoughwefacedallsortsofchallengesfromtheexternalenvironmentandarisinginthecourseofourdevelopment,wealwaysstoodinaweofmarketopportunities,andrealizedhealthygrowthofallscopesofbusinesswithouremployeesactingwithonemindandworkingroundtheclock.In2021,wewillcontinuetofocusonourstrategiccustomers,adheretotheprincipleofcustomerorientation,andmakedeploymentsinproductsandbusinessesaccordingtothestrategicdemandsofkeycustomers.Onthebasisofservingtheexistingcustomersandprovidingtheexistingproducts,wewillimplementthebusinessdevelopmentpolicyestablishedbytheBoardofDirectors,explorenewmarketsandnewfieldsbyleveragingourrichexperiencesandresources,furtherdiversifyourproducts,businessesandcustomers,andimproveourprofitability.Inlightofrapidgrowth,wewillcontinuetomakein-depthexplorationsandstudiesinrespectoforganizationmanagement,officialmanagementandperformanceincentive,updateandoptimizethecurrentmanagementmode,throughcontinuousimprovementofthemechanisms,effectivelyarousetheenthusiasmofofficers,poolthewisdomandeffortsofeveryone,andmakeconcertedeffortstogivefullplaytotheeffectivenessofourorganization,tomeetthedemandsofourrapidbusinessgrowth.In2021,wewillcontinuetoadvancetheplatformbuildingforautomationtechnologies,upgradetheautomationresourcestoaplatformsharedbytheentiregroup,effecttheirswitchesamongdifferentfields,productsandmodules,throughintensivemanagement,improveoperatingefficiencyandreducerepeatedinputofresources.Meanwhile,intermsofproductioncapacityplanning,theyearof2021willbeanotherimportantyearforustomakeglobaldeployments.Wewillcautiouslyassessthestrategicvalueofallproducts,businessesandregions,pourreasonableresourcesintotheprojectsthatcanproducelong-termandstablebenefitsorproduceasynergyeffectandprovidehighadded-valuetoourexistingbusiness,tomakepre-deploymentsandhelpusachieveourshort,mediumandlong-termgoals.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
4.CapitalrequiredforfuturedevelopmentstrategyandcapitalutilizationplanAsofDecember31,2020,ourequity-debtratiowas55.86%.In2021,ourbusinessisexpectedtomaintainrapidgrowth,andtheexploitationofnewmarketsandentryofproductionofnewprojectsrequireenormouscapital.Alongwiththeimprovementofourpositionintheindustryandstabilizationofourrelationshipwithcustomers,weobtaincertainadvantagesintransactions.Wewillcontinuetostrictlycontrolcapitalexpendituresineachproject,regularlyanalysisandreviewthereturnoninvestmentineachcapitalexpenditureproject,andcontinuetoimproveourmanagementoveraccountsreceivable,inventoriesandotherareas,tomaximizetheefficiencyofcapitalutilization.Wewillconsiderallavailablesourcesoffinancingatdifferentperiodsaccordingtotherequirementsofourdevelopmentstrategy,tocreatemorevalueforourshareholders.
5.Futurerisks
(1)RiskoffluctuationofmacroeconomyThenumerousuncertaintiesexistinginthedomesticandforeignmacroenvironmentatpresent,suchasthespreadoftheepidemicsituationthroughouttheworld,thetradefrictionsbetweenChinaandtheUnitedStatesandthecomplicatedandgraveglobalpoliticalsituation,mightresultinslowdownofglobaleconomy,andaffectpeople’sincome,purchasingpowerandwillingnesstospend.Iftheuncertaintiesofthemacroenvironmentcontinueforalongtime,theindustrywillbeimpactedandfacecertainchallenges.
(2)RiskofforeignexchangerateAtpresent,ourrevenuefromtheoverseasmarketconstitutesalargeproportioninourtotaloperatingrevenue,andouroverseastransactionsaremainlysettledinUSDollars.OursalesontheoverseasmarkettotaledRMB32?010?761?900,RMB57?465?383?800andRMB85?046?280?900in2018,2019and2020,representing89.29%,91.92%and91.94%oftherevenuefrommainbusinessrespectively.Becauseourcountryimplementsthemanagedfloatingratesystem,theforeignexchangeratesfluctuatealongwiththechangesindomesticandforeignpoliticalandeconomicenvironment.Iftheforeignexchangeratesfluctuategreatly,theexchangegainsorlossesmayaffectouroperatingresults.Inordertoreducetheuncertaintiescausedbyfluctuationsofforeignexchangeratesonouroperatingresults,wewillstrivetokeepabreastofthemovementofforeignexchangerates,strictlycontroltheproportionofforeigncurrencydenominatedassetsinournetassets,andthroughforeignexchangederivativetransactions,reducetheeffectofthefluctuationofforeignexchangerates.
(3)ManagementriskWehavebeengrowingrapidlyinrecentyears,andcontinuouslyexpandedourbusinessinconsumerelectronics,communication,automotiveandotherfields.Wehaveagreatnumberofoperatingentitieswhicharerelativelydecentralized.DuetotheimpactofthetradefrictionsbetweenChinaandtheUnitedStatesandthespreadoftheepidemicsituationthroughouttheworld,ourcustomerswillputforwardincreasinglyhighrequirementsfortheinternationalizedlevelofthedeploymentofourproductioncapacity,whichwillinturnputforwardhigherrequirementsforouroperationandmanagementcapabilityandpoolofoutstandingtalents.Ifourmanagementlevelcannotsatisfytherequirementsoftherapidgrowthofourscaleofoperation,wemayfacecertainmanagementrisks.
(4)RiskofrelativeconcentrationofcustomersWeattachgreatimportancetomaintaininglong-termandstablecooperationrelationshipswithourmajorcustomers.Atpresent,ourcustomersarerelativelyconcentrated,mostofwhomareengagedinconsumerelectronics.Thoughtherelevantcustomersarefirst-classcustomersintheindustry,havestrongandleadingcompetenciesonthemarket,andhavemaintainedyearsofstablecooperationrelationshipwithus,ifanymajorcustomerfallsintoseriousdifficultiesinitsoperation,wemayfacecertainoperating
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
risk.
X.Investigation,research,communication,interviewandotheractivities
1.Registrationformofinvestigation,research,communication,interviewandotheractivitiesoccurredduringthereportingperiod
√Applicable□N/A
Date | Place | Methodofcommunication | Typeofguest | Guest | Maintopicofdiscussionandinformationprovided | Particularsoftheinvestigationandresearchactivityavailableat |
March20,2020 | CompanymeetingroomatNo.17KuiqingRoad,QinghuangIndustrialZone,QingxiTown,Dongguan,Guangdong | Communicationbytelephone | Institution | Institutionalinvestors | EffectoftheoutbreakofCOVID-19ontheCompanyandtheCompany’sfuturedevelopmentplan | RefertotheRecordofInvestorRelationsActivityonMarch20,2020publishedonwww.cninfo.com.cnonMarch22,2020 |
August25,2020 | CompanymeetingroomatNo.333BeihuanRoad,QingxiTown,Dongguan,Guangdong | Communicationbytelephone | Institution | Institutionalinvestors | IntroductionoftheCompany’soperatingresultsinthefirsthalfof2020andtheCompany’sgeneralsituation | RefertoLuxshare-ICT(stockcode:002475)InformationaboutInvestigationandResearchActivity(20200827)publishedonwww.cninfo.com.cnonAugust27,2020 |
September16,2020 | CompanymeetingroomatNo.399BaishengRoad,JinxiTown,Kunshan,Jiangsu | On-siteinvestigationandresearch | Institution | Institutionalinvestors | IntroductionoftheCompany’sgeneralsituationandfuturedevelopmentplananddeployments | RefertoLuxshare-ICT(stockcode:002475)InvestorRelationsManagementFile(20200919)publishedonwww.cninfo.com.cnonSeptember19,2020 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
SectionVSignificantMattersI.Profitdistributiononordinarysharesandtransferofcapitalreservetothesharecapital
Adoption,implementationoradjustmentoftheprofitdistributionpolicy,inparticular,cashdividendpolicy,inrespectofordinarysharesduringthereportingperiod
√Applicable□N/APursuanttotheresolutionsadoptedbythe17
th
meetingofthe4
thBoardofDirectorsandthe2019annualshareholders’meeting,weproposedtodistributetoallshareholdersacashdividendofRMB1.2(inclusiveoftax)per10sharesonthebasisofthetotalsharecapitalof5,371,812,030shares,orRMB644,617,443.60(inclusiveoftax)intotal,andissue3additionalsharesper10sharethroughtransferofcapitalreservetothesharecapital,asaresultofwhich,ourtotalsharecapitalwouldbecome6,983,355,639shares.Incaseofanychangeinourtotalsharecapitalduetoanysharerepurchase,exerciseofshareincentives,materialassetrestructuring,cancellationofrepurchasedshareorotherwisepriortotherecorddatefortherelevantequitydistribution,wewouldadjustthedistributionpayablepershareaccordinglyontheprinciplethatthetotalamountdistributableshouldremainthesame.Duringtheperiodfromthedisclosureofsuchprofitdistributionproposaltotheimplementationthereof,ourtotalsharecapitalincreasedby515,928shares,from5,371,812,030sharesatthetimeofdisclosureoftheproposalto5,372,327,958sharesduetotheimplementationofourstockoptionincentiveplan.Ontheprinciplethatthetotalamountdistributableshouldremainthesame,ourprofitdistributionproposalfor2019wasadjustedasfollows:todistributetoallshareholdersacashdividendofRMB1.199884(inclusiveoftax)per10sharesonthebasisofthetotalsharecapitalof5,372,327,958shares,orRMB644,617,035.9556870(inclusiveoftax)intotal,andissue2.999711additionalsharesper10sharethroughtransferofcapitalreservetothesharecapital,asaresultofwhich,ourtotalsharecapitalbecame6,983,871,085shares.
Specialexplanationaboutthecashdividendpolicy | |
Whethercomplywiththeprovisionsofthearticlesofassociationorrequirementsofresolutionsoftheshareholders’meetingoftheCompany? | Yes |
Whetherthestandardandratioofcashdividenddistributionareclearanddefinite? | Yes |
Whethertherelevantdecision-makingprocessandmechanismaresound? | Yes |
Whethertheindependentdirectorshaveperformedtheirdutiesandexercisedtheirfunctions? | Yes |
Whethertheminorityshareholdershavesufficientopportunitiestoexpresstheiropinionsandrequestsandtheirlegitimaterightsandinterestsarefullyprotected? | Yes |
Whethertheconditionsandproceduresinrespectofanyadjustmentoramendmentofthecashdividendpolicycomplywiththeapplicableregulationsandaretransparent? | Yes |
Proposalsfordistributionofdividendsonordinarysharesandfortransferofcapitalreservetosharecapitalinthepastthreeyears(includingthereportingperiod):
2018:Pursuanttotheresolutionsadoptedbythe8
th
meetingofthe4
th
BoardofDirectorsandthe2018annualshareholders’meeting,wedistributedtoallshareholdersacashdividendof
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
RMB0.50(inclusiveoftax)per10sharesonthebasisofthetotalsharecapitalof4,114,616,722shares,orRMB205,730,836.10(inclusiveoftax)intotal,andissued3additionalsharesper10sharethroughtransferofcapitalreservetothesharecapital,asaresultofwhich,ourtotalsharecapitalbecame5,349,001,738shares.2019:Pursuanttotheresolutionsadoptedbythe17
th
meetingofthe4
thBoardofDirectorsandthe2019annualshareholders’meeting,weproposedtodistributetoallshareholdersacashdividendofRMB1.2(inclusiveoftax)per10sharesonthebasisofthetotalsharecapitalof5,371,812,030shares,orRMB644,617,443.60(inclusiveoftax)intotal,andissue3additionalsharesper10sharethroughtransferofcapitalreservetothesharecapital,asaresultofwhich,ourtotalsharecapitalwouldbecome6,983,355,639shares.Incaseofanychangeinourtotalsharecapitalduetoanysharerepurchase,exerciseofshareincentives,materialassetrestructuring,cancellationofrepurchasedshareorotherwisepriortotherecorddatefortherelevantequitydistribution,wewouldadjustthedistributionpayablepershareaccordinglyontheprinciplethatthetotalamountdistributableshouldremainthesame.Duringtheperiodfromthedisclosureofsuchprofitdistributionproposaltotheimplementationthereof,ourtotalsharecapitalincreasedby515,928shares,from5,371,812,030sharesatthetimeofdisclosureoftheproposalto5,372,327,958sharesduetotheimplementationofourstockoptionincentiveplan.Ontheprinciplethatthetotalamountdistributableshouldremainthesame,ourprofitdistributionproposalfor2019wasadjustedasfollows:todistributetoallshareholdersacashdividendofRMB1.199884(inclusiveoftax)per10sharesonthebasisofthetotalsharecapitalof5,372,327,958shares,orRMB644,617,035.9556870(inclusiveoftax)intotal,andissue2.999711additionalsharesper10sharethroughtransferofcapitalreservetothesharecapital,asaresultofwhich,ourtotalsharecapitalbecame6,983,871,085shares.2020:Pursuanttothe2020ProfitDistributionProposalapprovedbythe31
stmeetingofthe4
th
BoardofDirectors,weproposetodistributetoallshareholdersacashdividendofRMB1.1(inclusiveoftax)per10sharesonthebasisofthetotalsharecapitalof7,035,426,367shares,orRMB773,896,900.37(inclusiveoftax)intotal,andtocarryforwardtheretainedprofitsfordistributioninsubsequentyears.Incaseofanychangeinourtotalsharecapitalduetoanysharerepurchase,exerciseofshareincentives,materialassetrestructuring,cancellationofrepurchasedshareorotherwisepriortotherecorddatefortherelevantequitydistribution,wewilladjustthedistributionpayablepershareaccordinglyontheprinciplethatthetotalamountdistributableshouldremainthesame.The2020ProfitDistributionProposalissubjecttoapprovalbyourannualshareholders’meeting.Cashdividendsdistributedonordinarysharesinthepastthreeyears(includingthereportingperiod):
InRMB
Yearofdistribution | Amountofcashdividends(inclusiveoftax) | Netprofitattributabletotheholdersofordinarysharesofthelistedcompanyontheconsolidatedfinancialstatementsfortheyearofdistribution | Proportionofcashdividendstothenetprofitattributabletotheholdersofordinarysharesofthelistedcompanyontheconsolidatedfinancialstatements | Amountofcashdividendsdistributedinotherways(suchassharerepurchase) | Proportionofcashdividendsdistributedinotherwaystothenetprofitattributabletotheholdersofordinarysharesofthelistedcompanyontheconsolidatedfinancialstatements | Totalamountofcashdividends | Proportionoftotalcashdividendstothenetprofitattributabletotheholdersofordinarysharesofthelistedcompanyontheconsolidatedfinancialstatements |
2020 | 773,896,900.37 | 7,225,462,752.58 | 10.71% | 0.00 | 0.00% | 773,896,900.37 | 10.71% |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
2019 | 644,617,443.60 | 4,713,820,644.90 | 13.68% | 0.00 | 0.00% | 644,617,443.60 | 13.68% |
2018 | 205,730,836.10 | 2,722,631,125.23 | 7.56% | 0.00 | 0.00% | 205,730,836.10 | 7.56% |
WhethertheCompanydidnotproposetodistributecashdividendsonordinarysharesthoughtheCompanymadeaprofitinthereportingperiodandtheparentcompanyhasapositiveprofitattributabletotheholdersofitsordinaryshares?
□Applicable√N/A
II.Profitdistributiononordinarysharesandtransferofcapitalreservetothesharecapitalforthereportingperiod
√Applicable□N/A
Numberofbonussharesper10shares | 0 |
Amountofcashdividendsper10shares(inclusiveoftax) | 1.1 |
Sharecapitalbasedonwhichthedistributionproposalwasmade | 7,035,426,367 |
Amountofcashdividends(inclusiveoftax) | 773,896,900.37 |
Amountofcashdividendsdistributedinotherways(suchassharerepurchase)(RMB) | 0.00 |
Totalamountofcashdividends(RMB) | 773,896,900.37 |
Distributableprofit(RMB) | 5,031,699,596.69 |
Proportionoftotalcashdividendstothedistributableprofit | 100 |
Particularsofcashdividendsdistributedforthereportingperiod | |
Others | |
Particularsoftheprofitdistributionproposalorfortransferofcapitalreservetosharecapital | |
Our2020ProfitDistributionProposalisasfollows:todistributetoallshareholdersacashdividendofRMB1.1(inclusiveoftax)per10sharesonthebasisofthetotalsharecapitalof7,035,426,367shares,orRMB773,896,900.37(inclusiveoftax)intotal,andtocarryforwardtheretainedprofitsfordistributioninsubsequentyears.Incaseofanychangeinourtotalsharecapitalduetoanysharerepurchase,exerciseofshareincentives,materialassetrestructuring,cancellationofrepurchasedshareorotherwisepriortotherecorddatefortherelevantequitydistribution,wewilladjustthedistributionpayablepershareaccordinglyontheprinciplethatthetotalamountdistributableshouldremainthesame.The2020ProfitDistributionProposalissubjecttoapprovalbyourannualshareholders’meeting. |
III.Fulfillmentofcovenants
1.Covenantsmadebytheactualcontrollers,shareholders,affiliatesandacquireroftheCompany,theCompanyitselfandotherrelatedpartiesthathavebeenfulfilledduringthereportingperiodorfailedtobefulfilledasattheendofthereportingperiod
√Applicable□N/A
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Backgroundofcovenant | Covenantor | Typeofcovenant | Contentofcovenant | Timeofcovenant | Validityperiod/expirydateofcovenant | Statusoffulfillment |
Covenantrelatingtothetransformationintoshareholdingsystem | ||||||
Covenantmadeinanyacquisitionreportorreportonchangesinequity | ||||||
Covenantrelatingtoanyassetrestructuring | ||||||
Covenantrelatingtoanyinitialpublicofferingorsubsequentfundraising | HUANGDawei,LIBin,LINYifei,WANGLaichun,WANGLaisheng,WUTiansong,XIONGTengfang,XUHuaibin,XUEHaigao,YEYiling,ZHANGYing | Othercovenants | PursuanttotheapplicableregulationsoftheChinaSecuritiesRegulatoryCommission,inordertoensuretheimplementationoftheremedialmeasuresfordilutedearningsoftheCompany,eachofthedirectorsandexecutivesoftheCompanyherebycovenantsasfollows:1.Iwillnottransferbenefitstoanyotherentityorindividualwithoutcompensationoronunfairterms,orotherwisedamagetheinterestoftheCompany.2.Iwillexerciseself-disciplineinconsumptioninperformingmyduties.3.IwillnotusetheassetsoftheCompanytoengageinanyinvestmentorconsumptionactivitynotinconnectionwithmyduties.4.Iwill,withinmypowers,procurethelinkagebetweenthecompensationsystemadoptedbytheBoardofDirectorsortheCompensationandPerformanceAppraisalCommitteeandtheimplementationoftheCompany’sremedialmeasuresfordilutedearnings.5.Iwill,withinmypowers,procurethelinkagebetweenthevestingconditionsinrespectofanyshareincentivesgrantedbytheCompanyandtheimplementationoftheCompany’sremedialmeasuresfordilutedearnings.6.Iundertaketostrictlyfulfillthecovenantssetforthabove,toensuretheimplementationoftheremedialmeasuresfordilutedearningsoftheCompany.IfIbreachorrefusetofulfillany | July11,2019 | Permanent | Thecovenantshavebeenfulfilledstrictly |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
covenantsetforthabove,Iwillmakeexplanationsandapologiesandperformotherobligationsrequiredbytheapplicableregulations,andagreetoacceptanypunishmentorregulatoryactionthatmaybeimposedonortakenagainstmebytheChinaSecuritiesRegulatoryCommission,theShenzhenStockExchangeoranyothercompetentsecuritiesregulatoryauthoritypursuanttotheapplicablerulesandregulationsestablishedorpromulgatedbysuchregulatoryauthorities,andindemnifytheCompanyoritsshareholdersforthelosses(ifany)arisingtherefromaccordingtolaw. | |||||
LuxsharePrecisionLimited(HK),WANGLaichun,WANGLaisheng | Othercovenants | InordertoseriouslyprotectthelegitimaterightsandinterestsoftheCompanyandallofitsshareholders,eachofthecontrollingshareholderandactualcontrollersoftheCompanyherebycovenantsasfollows:1.We/IwillnotinterferewithmanagementandoperationoftheCompanybeyondour/mypowers,orinfringeontheinterestoftheCompany.2.We/IwillprocuretheimplementationoftheremedialmeasuresfordilutedearningsoftheCompany,andfulfillour/mycovenantsinconnectiontherewith.IfWe/Ibreachorrefusetofulfillanycovenantsetforthabove,We/Iagreetoacceptanypunishmentorregulatoryactionthatmaybeimposedonortakenagainstus/mebytheChinaSecuritiesRegulatoryCommission,theShenzhenStockExchangeoranyothercompetentsecuritiesregulatoryauthoritypursuanttotheapplicablerulesandregulationsestablishedorpromulgatedbysuchregulatoryauthorities,andindemnifytheCompanyortheinvestorsforthelosses(ifany)arisingtherefromaccordingtolaw.3.Fromthedateofthiscovenanttillthedateofcompletionofthisoffering,iftheChinaSecuritiesRegulatoryCommissionoranyothercompetentsecuritiesregulatoryauthorityadoptsanynewregulationregardingtheremedialmeasuresfordilutedearningsandcovenantsinconnectiontherewith,andthecovenantssetforthabovedonotsatisfytherequirementsofsuchnewregulation,We/Iwillmakesupplementarycovenantspursuanttothenewregulation. | July11,2019 | Permanent | Thecovenantshavebeenfulfilledstrictly |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
LuxsharePrecisionLimited(HK),WANGLaichun,WANGLaisheng | Othercovenants | LuxsharePrecisionLimited(HK),asthecontrollingshareholderoftheCompany,andWANGLaichunandWANGLaisheng,astheactualcontrollersoftheCompany,herebycovenantasfollows:1.We,LuxsharePrecisionLimited(HK),asthecontrollingshareholderoftheCompany,undertakenottointerferewithmanagementandoperationoftheCompanybeyondourpowers,orinfringeontheinterestoftheCompany.2.I,WANGLaichun,astheactualcontroller,ChairmanandGeneralManageroftheCompany,undertaketoperformmydutiesinaccordancewiththeapplicablelawsandregulationsandthearticlesofassociationoftheCompany,andnottointerferewithmanagementandoperationoftheCompanybeyondmypowers,orinfringeontheinterestoftheCompany.3.I,WANGLaisheng,astheactualcontrollerandViceChairmanoftheCompany,undertaketoperformmydutiesinaccordancewiththeapplicablelawsandregulationsandthearticlesofassociationoftheCompany,andnottointerferewithmanagementandoperationoftheCompanybeyondmypowers,orinfringeontheinterestoftheCompany. | March11,2016 | Permanent | Thecovenantshavebeenfulfilledstrictly |
BAIRujing,CHENChaofei,DONGJianhai,LIBin,LIJing,LIXiongwei,LINYifei,WANGJi,WANGLaichun,WANGLaisheng,XUHuaibin,YEYiling,ZHANGLihua | Othercovenants | EachofthedirectorsandexecutivesoftheCompanyherebycovenantsasfollows:1.Iwillnottransferbenefitstoanyotherentityorindividualwithoutcompensationoronunfairterms,orotherwisedamagetheinterestoftheCompany.2.Iwillexerciseself-disciplineinconsumptioninperformingmyduties.3.IwillnotusetheassetsoftheCompanytoengageinanyinvestmentorconsumptionactivitynotinconnectionwithmyduties.4.IwillprocurethelinkagebetweenthecompensationsystemadoptedbytheBoardofDirectorsortheCompensationandPerformanceAppraisalCommitteeandtheimplementationoftheCompany’sremedialmeasuresfordilutedearnings.5.IftheCompanyestablishesanyshareincentiveplaninthefuture,IwillprocurethelinkagebetweenthevestingconditionsinrespectofanyshareincentivesgrantedbytheCompanyandtheimplementationoftheCompany’sremedial | March11,2016 | Permanent | Thecovenantshavebeenfulfilledstrictly |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
measuresfordilutedearnings. | |||||
LuxsharePrecisionLimited(HK) | Covenantsrelatingtohorizontalcompetition,related-partytransactionsandoccupationoffunds | 1.Weandallotherentitiescontrolledbyusatpresentorinthefuturewillnot,directlyorindirectly,engageinanybusinessoractivitythatcompetesormightcompeteorpotentiallycompetewiththemainbusinessoftheCompany.2.IfanyamendmentofanyapplicablelaworchangeinanyapplicablepolicyofthecountryresultsinanyactualorpotentialhorizontalcompetitionbetweenusoranyotherentitycontrolledbyusandtheCompanyinanybusiness,theCompanyshallhavethepreemptiverightonthesametermsinrespectofanyentrustedmanagement(ormanagementundercontractorlease)oracquisitioninconnectionwithsuchbusiness.3.SolongasweremainthecontrollingshareholderoftheCompany,thecovenantssetforthaboveshallbeunconditionalandirrevocable.Ifwebreachanycovenantsetforthabove,wewill,jointlyandseverally,fully,timelyandadequatelyindemnifythelossesoftheCompanyarisingtherefrom. | October15,2014 | Permanent | Thecovenantshavebeenfulfilledstrictly |
LuxsharePrecisionLimited(HK) | Covenantsrelatingtohorizontalcompetition,related-partytransactionsandoccupationoffunds | 1.Weandotherentitiescontrolledbyuswillreducerelated-partytransactionswiththeCompanytothemaximumextentpracticable.2.Withrespecttoanyrelated-partytransactionbetweenusoranyotherentitycontrolledbyusandtheCompanythatisunavoidableorexistsreasonably,wewillcarryoutsuchtransactiononanarm’slengthbasisandcustomarycommercialterms,ensurethefairnessofthetransactionprice,performtherelevantdecision-makingprocessaccordingtolaw,andguaranteethatthelegitimaterightsandinterestsoftheCompanyanditsshareholderswillnotbedamagedasaresultofsuchtransaction.3.WeoranyotherentitycontrolledbyuswillnotrequesttheCompanytoofferanytermsmorefavorablethanthetermsthatmaybeofferedbyanythirdpartyinanarm’slengthtransaction,oracceptanysuchtermsofferedbytheCompany.4.SolongasweremainthecontrollingshareholderoftheCompany,thecovenantssetforthaboveshallbeunconditionalandirrevocable.Ifwebreachanycovenantsetforthabove,we | October15,2014 | Permanent | Thecovenantshavebeenfulfilledstrictly |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
will,jointlyandseverally,fully,timelyandadequatelyindemnifythelossesoftheCompanyarisingtherefrom. | |||||
WANGLaichun,WANGLaisheng | Covenantsrelatingtohorizontalcompetition,related-partytransactionsandoccupationoffunds | IandotherentitiescontrolledbymearenotengagedinanybusinessthatisthesameasorsimilartothebusinessoftheIssueroranyentitycontrolledbytheIssuer.SolongasIretaincontrolovertheIssuerdirectlyorindirectly,Iwillstrictlycomplywiththeapplicablelaws,regulationsandcodesofthecountry,andwillnot,directlyorindirectly,engageinanybusinessthatisthesameas,similartoorsubstantiallyincompetitionwiththebusinessoftheIssueroranyentitycontrolledbytheIssuer,orhavesubstantialorrelativecontroloveranyothercompany,organizationoreconomicentityengaginginanybusinessthatisthesameas,similartoorsubstantiallyincompetitionwiththebusinessoftheIssueroranyentitycontrolledbytheIssuerinoroutsideChina.Iwillusemycontrolovertheotherentitiescontrolledbymetocausesuchentitiestofulfillthecovenantssetforthaboveinthesamemanner.IfIbreachanycovenantsetforthabove,Iagreetoassumetherelevantlegalliabilities,includingwithoutlimitation,toindemnifytheIssueranditsminorityshareholdersforalllossesarisingtherefrom. | July30,2010 | Permanent | Thecovenantshavebeenfulfilledstrictly |
LuxsharePrecisionLimited(HK),ShenzhenZixinInvestmentCo.,Ltd. | Covenantsrelatingtohorizontalcompetition,related-partytransactionsandoccupationoffunds | WearenotengagedinanybusinessthatisthesameasorsimilartothebusinessoftheIssueroranyentitycontrolledbytheIssuer.SolongasweretaincontrolovertheIssuerdirectlyorindirectly,wewillstrictlycomplywiththeapplicablelaws,regulationsandcodesofthecountry,andwillnot,directlyorindirectly,engageinanybusinessthatisthesameas,similartoorsubstantiallyincompetitionwiththebusinessoftheIssueroranyentitycontrolledbytheIssuer,orhavesubstantialorrelativecontroloveranyothercompany,organizationoreconomicentityengaginginanybusinessthatisthesameas,similartoorsubstantiallyincompetitionwiththebusinessoftheIssueroranyentitycontrolledbytheIssuerinoroutsideChina.Wewilluseourcontrolovertheotherentitiescontrolledbyustocausesuchentitiestofulfillthecovenantssetforthaboveinthesamemanner.Ifwebreachanycovenantsetforthabove,weagreetoassumetherelevantlegalliabilities,includingwithoutlimitation,toindemnifytheIssueranditsminorityshareholdersforalllossesarisingtherefrom. | July30,2010 | Permanent | Thecovenantshavebeenfulfilledstrictly |
LuxsharePrecision | Covenantsrelating | We/Iwillnottakeadvantageofour/mypositionasthecontrolling | July30, | Permanent | The |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Limited(HK),ShenzhenZixinInvestmentCo.,Ltd.,WANGLaichun,WANGLaisheng | tohorizontalcompetition,related-partytransactionsandoccupationoffunds | shareholder,actualcontrollerorshareholder(asapplicable)andour/myaffiliationwiththeIssuertoengageinanyacttothedetrimentoftheinterestoftheIssueroritsothershareholders.Withrespecttoanyrelated-partytransactionbetweenus/meoranyotherentitycontrolledbyus/meandtheIssuer,we/Iwillcarryoutsuchtransactiononanarm’slengthbasisandcustomarycommercialterms,andwillnotrequesttheIssuertoofferanytermsmorefavorablethanthetermsthatmaybeofferedbyanythirdpartyinanarm’slengthtransaction,oracceptanysuchtermsofferedbytheIssuer.We/Iwillstrictlyperformallrelated-partytransactionagreements(ifany)enteredintowiththeIssueringoodfaith,andwillnotseekanyinterestorbenefitincontraventionofthecovenantssetforthabove.Ifwe/Ibreachanycovenantsetforthabove,we/IagreetoindemnifytheIssueranditsminorityshareholdersforalllossesarisingtherefrom. | 2010 | covenantshavebeenfulfilledstrictly | ||
Covenantsrelatingtoshareincentives | ||||||
CovenantsmadetotheminorityshareholdersoftheCompany | LuxsharePrecisionLimited(HK) | Othercovenants | LuxsharePrecisionLimited(HK),asthecontrollingshareholderoftheCompany,herebyundertakesnottosellanyshareoftheCompanythroughthestocktradingsystemwithin12monthsafterthecompletionofthisdisposal. | February3,2021 | February2,2022 | Thecovenantshavebeenfulfilledstrictly |
LuxsharePrecisionLimited(HK) | Othercovenants | LuxsharePrecisionLimited(HK),asthecontrollingshareholderoftheCompany,herebyundertakesnottosellanyshareoftheCompanythroughthestocktradingsystemwithin6monthsafterthecompletionofthisdisposal. | July22,2020 | January21?2021 | Thecovenantshavebeenfulfilledstrictly | |
LuxsharePrecisionLimited(HK) | Covenantsrelatingtohorizontalcompetition,related-partytransactionsandoccupationoffunds | Afterthecompletionofthetransactionscontemplatedbytheannouncementonexternalinvestmentandrelated-partytransactionsdisclosedbytheCompanyonNovember13,2020,weandouraffiliateswillnotengageinanybusinessthatisthesameasorsubstantiallyincompetitionwiththebusinessoftheCompanyoranyentitycontrolledbytheCompanyinanymanner. | November13,2020 | Permanent | Thecovenantshavebeenfulfilledstrictly | |
Whetherthecovenantshavebeenfulfilledontime? | Yes |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Ifanycovenantfailstobefulfilledontime,pleasestatethespecificreasonandtherelevantactionplan | N/A |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
2.IftheCompanyhasmadeanyprofitforecastonitsassetsorprojectandthereportingperiodfallswithintheperiodofsuchprofitforecast,explanationaboutwhetherthegoalhasbeenachievedandtherelevantreasons
□Applicable√N/A
IV.OccupationbythecontrollingshareholderanditsaffiliatesofthefundsofCompanyfornon-operatingpurpose
□Applicable√N/AOurcontrollingshareholderanditsaffiliateshavenotoccupiedourfundsfornon-operatingpurposeduringthereportingperiod.V.ExplanationbytheBoardofDirectors,theBoardofSupervisorsandtheindependentdirectors(ifany)aboutthemodifiedauditor’sreportissuedbytheaccountingfirmforthereportingperiod
□Applicable√N/A
VI.Changesinaccountingpolicies,accountingestimatesandaccountingmethodscomparedwiththefinancialreportfortheprecedingyear
√Applicable□N/APursuanttotheNoticeontheAmendmentandPublicationoftheAccountingStandardsforBusinessEnterprisesNo.14:Revenue(CaiKuai[2017]No.22)issuedbytheMinistryofFinanceonJuly5,2017,thenewrevenueaccountingstandardiseffectivefromJanuary1,2018foranyentitythatislistedbothondomesticandforeignstockexchanges,andanyentitythatislistedonaforeignstockexchangeandpreparesitsfinancialstatementsinaccordancewiththeInternationalFinancialReportingStandardsortheAccountingStandardsforBusinessEnterprises,andfromJanuary1,2020forotherentitieslistedondomesticstockexchanges,andfromJanuary1,2021forunlistedentitiesadoptingtheAccountingStandardsforBusinessEnterprises.The18
th
meetingofthe4
th
BoardofDirectorsreviewedandapprovedtheProposalontheAmendmentoftheAccountingPoliciesonApril27,2020.Pursuanttotheprovisionsregardingthetransitionfromtheoldstandardtothenewstandard,weadoptedthenewrevenueaccountingstandardfromJanuary1,2020,withoutadjustingtheinformationofcomparativeperiodsorretrospectivelyadjustingtheinformationofprioryears.Therefore,thischangeinaccountingpoliciesdoesnotaffectourfinancialindicatorsin2019.Thischangeinaccountingpolicieswasmadepursuanttotherequirementsoftheapplicablelawsandadministrativeregulationsorunifiedaccountingsystemofthecountry,andisexpectedtohavenosignificanteffectonourfinancialposition,operatingresultsorcashflows.
VII.Explanationaboutanymaterialaccountingerroroccurredduringthereportingperiodthatrequiresanyretrospectiverestatement
□Applicable√N/ATherehasbeennomaterialaccountingerroroccurredduringthereportingperiodthatrequiresanyretrospectiverestatement.
VIII.Explanationaboutchangesinthescopeofconsolidationcomparedwiththefinancialreportfortheprecedingyear
√Applicable□N/A
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Elevennewlyestablishedoracquiredsubsidiariesorsub-subsidiariesduringthereportingperiod,namelySuzhouLantoElectronicLimited,LuxsharePrecisionIndustry(Jiangsu)Co.,Ltd.,LuxshareElectronic(Xingning)Co.,Ltd.,LuxshareLanto(India)Limited,ChangshuLuxshareIndustrialInvestmentManagementCo.,Ltd.,KunshanLuxshareBusinessManagementDevelopmentCo.,Ltd.,KunshanLuxshareBusinessManagementServicePartnership(L.P.),LuxshareIntelligentEquipment(Kunshan)Co.,Ltd.LuxshareIntelligentManufactureTechnology(Rugao)Co.,Ltd.,CyberAcoustics,LLC(USA)(acquiredbysharepurchase)andTaiqiaoInvestmentCo.,Ltd.,areincludedinthescopeofconsolidation.SincewehavetransferredthesharesheldinLuxsharePrecisionIndustry(Xi’an)Ltd.duringthereportingperiod,itisremovedfromthescopeofconsolidation.
IV.Engagementandterminationofengagementofaccountingfirm
Accountingfirmcurrentlyengaged:
Nameofdomesticaccountingfirm | BDOChinaShuLunPanCertifiedPublicAccountantsLLP |
Remunerationofdomesticaccountingfirm(inRMB0’000) | 220 |
Consecutiveyearsinwhichthedomesticaccountingfirmhasprovidedauditingservice | 13 |
Certifiedpublicaccountantofthedomesticaccountingfirm | LIJingandWEIGang |
Consecutiveyearsinwhichthecertifiedpublicaccountantofthedomesticaccountingfirmhasprovidedauditingservice | 4 |
Nameofforeignaccountingfirm(ifany) | N/A |
Remunerationofforeignaccountingfirm(inRMB0’000)(ifany) | 0 |
Consecutiveyearsinwhichtheforeignaccountingfirmhasprovidedauditingservice(ifany) | N/A |
Certifiedpublicaccountantoftheforeignaccountingfirm(ifany) | N/A |
Consecutiveyearsinwhichthecertifiedpublicaccountantoftheforeignaccountingfirmhasprovidedauditingservice(ifany) | N/A |
Whetheranewaccountingfirmwasengagedduringthereportingperiod?
□Yes√NoEngagementofaccountingfirmforauditinginternalcontrols,financialadvisororsponsor:
√Applicable□N/ADuringthereportingperiod,weengagedCITICSecuritiesCo.,Ltd.asthesponsorforthepublicofferingofourconvertiblecorporatebonds,andpaidthesponsorRMB13?584?900ofsponsorfeeandunderwriterfeeintotal.
X.Riskofdelistingafterdisclosureoftheannualreport
□Applicable√N/A
XI.Mattersrelatingtobankruptcyandreorganization
□Applicable√N/AWehavenotbeeninvolvedinanybankruptcyorreorganizationproceedingsduringthereportingperiod.
XII.Materiallitigationsandarbitrations
√Applicable□N/A
Background | Amountclaimed(RMB0’000) | Whetheraprovisionisrecognized | Status | Resultandeffect | Enforcementofjudgment/award | Dateofdisclosure | Informationdisclosureavailableat |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Otherlitigationoccurredduringthereportingperiod | 59.04 | No | Closed | Thecasehasbeensettled/closedbymediationorwon,anddoesnothaveamaterialeffectonus. | Closedbymediationorenforced | N/A | |
Otherlitigationoccurredduringthereportingperiod | 45,834.2 | No | Pending | Thecaseispending,andwillnothaveamaterialeffectonus. | Pending | N/A |
XIII.Punishmentsandrectifications
□Applicable√N/AWehavenotbeensubjecttoanypunishmentorrequiredtomakeanyrectificationduringthereportingperiod.XI.CreditstandingoftheCompanyanditscontrollingshareholderandactualcontrollers
√Applicable□N/ATherewasn’tanyoutstandingcourtjudgmentoroverduedebtofalargeamountinvolvingusorourcontrollingshareholderoractualcontrollersduringthereportingperiod.
XV.Implementationofshareincentiveplans,employeestockownershipplansandotheremployeeincentivesgrantedbytheCompany
√Applicable□N/A
1.2018stockoptionincentiveplanOnNovember27,2019,the13
thmeetingofthe4
thBoardofDirectorsandthe13
thmeetingofthe4
thBoardofSupervisorsreviewedandapprovedtheProposalontheSatisfactionoftheVestingConditionsfortheFirstVestingPeriodofthe2018StockOptionIncentivePlan,pursuanttowhich,theawardeeswhohavesatisfiedthevestingconditionsmayexercisethestockoptionsvestedinthefirstvestingperiodintheirsolediscretionfromDecember18,2019toSeptember24,2020.RefertotheCautionaryAnnouncementonAdoptionoftheDiscretionaryExerciseMethodfortheFirstVestingPeriodofthe2018StockOptionIncentivePlan(AnnouncementNo.2019-082)fordetails.
OnJune22,2020,duetotheequitydistributionfor2019,weadjustedtheexercisepriceandnumberofstockoptionsunderthe2018stockoptionincentiveplanaccordingly.RefertotheAnnouncementonAdjustmentoftheExercisePriceandNumberofStockOptionsunderthe2018and2019StockOptionIncentivePlanandCancellationofCertainStockOptions(AnnouncementNo.2020-047)fordetails.
OnDecember2,2020,the27
thmeetingofthe4
th
BoardofDirectorsandthe27
th
meetingofthe4
th
BoardofSupervisorsreviewedandapprovedtheProposalontheSatisfactionoftheVestingConditionsfortheSecondVestingPeriodofthe2018StockOptionIncentivePlan,pursuanttowhich,theawardeeswhohavesatisfiedthevestingconditionsmayexercisethestockoptionsvestedinthesecondvestingperiodintheirsolediscretionfromDecember21,2020toSeptember24,2021.RefertotheCautionaryAnnouncementonAdoptionoftheDiscretionaryExerciseMethodfortheSecondVestingPeriodofthe2018StockOptionIncentivePlan(AnnouncementNo.2020-108)fordetails.
2.2019stockoptionincentiveplan
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
OnJanuary21,2020,thegrantof16,274,700stockoptionsreservedunderthe2019stockoptionincentiveplanto263awardeesatanexercisepriceofRMB17.93persharewasdulyregistered.RefertotheAnnouncementontheRegistrationofGrantofStockOptionsReservedunderthe2019StockOptionIncentivePlan(AnnouncementNo.2020-008)fordetails.OnJune22,2020,duetotheequitydistributionfor2019,weadjustedtheexercisepriceandnumberofstockoptionsunderthe2019stockoptionincentiveplanaccordingly.RefertotheAnnouncementonAdjustmentoftheExercisePriceandNumberofStockOptionsunderthe2018and2019StockOptionIncentivePlanandCancellationofCertainStockOptions(AnnouncementNo.2020-047)fordetails.
OnJune22,2020,the19
thmeetingofthe4
thBoardofDirectorsandthe19
thmeetingofthe4
thBoardofSupervisorsreviewedandapprovedtheProposalontheSatisfactionoftheVestingConditionsfortheFirstVestingPeriodofthe2019StockOptionIncentivePlan,pursuanttowhich,theawardeeswhohavesatisfiedthevestingconditionsmayexercisethestockoptionsvestedinthefirstvestingperiodintheirsolediscretionfromJuly6,2020toApril21,2021.RefertotheCautionaryAnnouncementonAdoptionoftheDiscretionaryExerciseMethodfortheFirstVestingPeriodofthe2019StockOptionIncentivePlan(AnnouncementNo.2020-049)fordetails.
3.Exerciseofstockoptionsduringthereportingperiod
Duringthereportingperiod,weissued41,175,071additionalsharesasaresultofexerciseofstockoptionsbytheawardeesunderourstockoptionincentiveplans.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
XVI.Materialrelated-partytransactions
1.Related-partytransactionsrelatingtoday-to-dayoperation
√Applicable□N/A
Counterparty | Relationship | Type | Subjectmatter | Pricingprinciple | Transactionprice | Amount(inRMB0’000) | %ofthetotalamountofthesametypeoftransactions | Approvedlimitoftransactionamount(inRMB0’000) | Whetherornotexceedtheapprovedlimit | Methodofsettlement | Marketpriceavailableforthesametypeoftransactions | Dateofdisclosure | Informationdisclosureavailableat |
LishengAutomotiveTechnology(Suzhou)Co.,Ltd. | Affiliateofthecontrollingshareholder | Purchaseofgoodsfromrelatedparty | Purchaseofgoods | Fairmarketprice | Fairmarketprice | 67.69 | 0.00% | 600 | No | Banktransfer | Fairmarketprice | April21?2020 | AnnouncementonEstimatedDailyRelated-partyTransactionsin2020publishedonwww.cninfo.com.cn(AnnouncementNo.2020-027) |
LishengAutomotiveTechnology(Suzhou)Co.,Ltd. | Affiliateofthecontrollingshareholder | Salesofgoodsandproductstorelatedparty | Salesofgoods | Fairmarketprice | Fairmarketprice | 10?691.87 | 0.04% | 15?000 | No | Banktransfer | Fairmarketprice | April21?2020 | AnnouncementonEstimatedDailyRelated-partyTransactionsin2020publishedonwww.cninfo.com.cn(AnnouncementNo.2020-027) |
Total | -- | -- | 10,759.56 | -- | 15,600 | -- | -- | -- | -- | -- | |||
Particularsofhuge-amountsalesreturns | None | ||||||||||||
Ifthetotalamountofdailyrelated-partytransactionsthatareexpectedtooccurduringthereportingperiodisestimatedbytype,theactualtransactionsoccurredduringthereportingperiod(ifany) | None | ||||||||||||
Reasonofanygreatdifferencebetweentransactionpriceandreferencemarketprice(ifapplicable) | None |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
2.Related-partytransactionsinvolvingacquisitionorsalesofassetsorequities
□Applicable√N/AWehavenotconductedanyrelated-partytransactioninvolvingacquisitionorsalesofassetsorequitiesduringthereportingperiod.
3.Related-partytransactionsinvolvingjointexternalinvestment
√Applicable□N/A
Co-investor | Relationship | Investee | Mainbusinessofinvestee | Registeredcapitalofinvestee(inRMB0’000) | Totalassetsofinvestee(inRMB0’000) | Netassetsofinvestee(inRMB0’000) | Netprofitofinvestee(inRMB0’000) |
ChangshuLuxshareBusinessManagementServicePartnership(L.P.) | Affiliateofthecontrollingshareholder | ChangshuLizhenIntelligentManufactureTechnologyPartnership(L.P.) | Businessmanagementconsulting;informationtechnologyconsultingservice;technicalservices,technologydevelopment,technicalconsulting,technicalexchanges,technologytransferandtechnologypromotion. | 600,000 | 599,953.53 | 599,954.22 | 4.22 |
Progressofmaterialconstructioninprogressoftheinvestee(ifany) | None |
4.Accountsreceivablefromandpayabletorelatedparties
□Applicable√N/AWedidnothaveanyaccountsreceivablefromorpayabletoanyrelatedpartyduringthereportingperiod.
5.Othermaterialrelated-partytransactions
□Applicable√N/AWehavenotconductedanyothermaterialrelated-partytransactionduringthereportingperiod.XVII.Materialcontractsandperformance
1.Trusteeship,contractingandleases
(1)Trusteeship
□Applicable√N/A
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Nosuchcaseduringthereportingperiod.
(2)Contracting
□Applicable√N/ANosuchcaseduringthereportingperiod.
(3)Leases
□Applicable√N/ANosuchcaseduringthereportingperiod.
2.Materialguarantees
√Applicable□N/A
(1)Guarantees
InRMB0’000
ExternalguaranteesprovidedbytheCompanyanditssubsidiaries(excludingthoseprovidedforthesubsidiaries) | ||||||||
Obligor | Disclosuredateofannouncementonthemaximumamountguaranteed | Maximumamountguaranteed | Effectivedateofguarantee | Actualamountguaranteed | Typeofguarantee | Termofguarantee | Whetherornotexpired | Whetherornotprovidedforarelatedparty |
GuaranteesprovidedbytheCompanyforitssubsidiaries | ||||||||
Obligor | Disclosuredateofannouncementonthemaximumamountguaranteed | Maximumamountguaranteed | Effectivedateofguarantee | Actualamountguaranteed | Typeofguarantee | Termofguarantee | Whetherornotexpired | Whetherornotprovidedforarelatedparty |
ICT-Lanto | April20,2020 | 18?922.21 | June23,2020 | Jointandseveralguarantee | Oneyear | No | Yes | |
ICT-Lanto | April20,2020 | 19?574.7 | August1,2020 | Jointandseveralguarantee | Oneyear | No | Yes | |
LuxsharePrecision | April20,2020 | 7?717.39 | June23,2020 | Jointandseveralguarantee | Oneyear | No | Yes | |
LuxsharePrecision | April20,2020 | 32?624.5 | June1,2020 | Jointandseveralguarantee | Oneyear | No | Yes | |
LuxsharePrecision | April20,2020 | 32?624.5 | Jointandseveralguarantee | Oneyear | No | Yes | ||
LuxsharePrecision | April20,2020 | 52?199.2 | Jointandseveralguarantee | Oneyear | No | Yes | ||
LuxsharePrecision | April20,2020 | 521?992 | July20,2020 | Jointandseveralguarantee | Fiveyears | No | Yes | |
LuxsharePrecision | April20,2020 | 7?829.88 | June12,2020 | 7?813.57 | Jointandseveralguarantee | Oneyear | No | Yes |
LuxsharePrecision | April20,2020 | 17?617.23 | July15,2020 | 17?551.98 | Jointandseveralguarantee | Oneyear | No | Yes |
LuxsharePrecision | April20,2020 | 33?929.48 | October21,2020 | 32?624.5 | Jointandseveral | Oneyear | No | Yes |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
guarantee | ||||||||
LuxsharePrecision | April20,2020 | 18?152.27 | May21,2020 | 17?878.23 | Jointandseveralguarantee | Oneyear | No | Yes |
LuxsharePrecision | April20,2020 | 52?969.14 | Jointandseveralguarantee | Oneyear | No | Yes | ||
Totalamountofguaranteeapprovedtobeprovidedforsubsidiariesduringthereportingperiod(B1) | 815?612.5 | Totalamountofguaranteeactuallyprovidedforsubsidiariesduringthereportingperiod(B2) | 75?868.27 | |||||
Totalamountofguaranteeapprovedtobeprovidedforsubsidiariesasattheendofthereportingperiod(B3) | 815?612.5 | Totalamountofguaranteeactuallyprovidedforsubsidiariesasattheendofthereportingperiod(B4) | 75?868.27 | |||||
Guaranteesprovidedbysubsidiariesforeachother | ||||||||
Obligor | Disclosuredateofannouncementonthemaximumamountguaranteed | Maximumamountguaranteed | Effectivedateofguarantee | Actualamountguaranteed | Typeofguarantee | Termofguarantee | Whetherornotexpired | Whetherornotprovidedforarelatedparty |
TotalamountofguaranteeprovidedbytheCompany | ||||||||
Totalamountofguaranteeapprovedduringthereportingperiod(A1+B1+C1) | 815?612.5 | Totalamountofguaranteeactuallyprovidedduringthereportingperiod(A2+B2+C2) | 75?868.27 | |||||
Totalamountofguaranteeapprovedasattheendofthereportingperiod(A3+B3+C3) | 815?612.5 | Totalamountofguaranteeactuallyprovidedasattheendofthereportingperiod(A4+B4+C4) | 75?868.27 | |||||
Ratiooftotalamountofguaranteeactuallyprovided(A4+B4+C4)tothenetassetsoftheCompany | 2.70% | |||||||
Where: | ||||||||
Outstandingguaranteesprovidedforshareholders,actualcontrollerandtheiraffiliates(D) | 0 | |||||||
Outstandingguaranteesdirectlyorindirectlyprovidedforobligorswhosedebt-to-assetsratioexceeds70%(E) | 75?868.27 | |||||||
Portionoftotalamountofguaranteeinexcessof50%ofthenetassets(F) | 0 | |||||||
Total(D+E+F) | 75?868.27 | |||||||
Explanationaboutthejointandseveralliabilitythathasbeenormightbeincurredinrespectofoutstandingguaranteesduringthereportingperiod(ifany) | None | |||||||
Explanationaboutexternalguaranteesprovidedincontraventionoftheestablishedprocedures(ifany) | None |
Particularsoftheguaranteesprovidedusingcomplexmethod:
(2)Externalguaranteesincontraventionoftheregulations
□Applicable√N/AWehavenotprovidedanyexternalguaranteeincontraventionoftheapplicableregulationsduringthereportingperiod.
3.Entrustedmanagementofcashassets
(1)Entrustedwealthmanagement
√Applicable□N/AEntrustedwealthmanagementduringthereportingperiod:
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
InRMB0’000
Type | Sourceoffunds | Totalamount | Outstandingamount | Overdueamount |
Bankwealthmanagementamount | Self-ownedfunds | 285,467.61 | 285,467.61 | 0 |
Total | 285,467.61 | 285,467.61 | 0 |
High-riskentrustedwealthmanagementproductsthataresignificantindividually,illiquidornotprincipalprotected:
□Applicable√N/AEntrustedwealthmanagementproductstheprincipalofwhichmaybeunrecoverableorwhichmayotherwisebeimpaired:
□Applicable√N/A
(2)Entrustedloans
√Applicable□N/AEntrustedloansduringthereportingperiod:
InRMB0’000
Totalamount | Sourceoffunds | Outstandingamount | Overdueamount |
320,949 | Self-ownedfunds | 320,949 | 0 |
High-riskentrustedloansthataresignificantindividually,illiquidornotprincipalprotected:
□Applicable√N/AEntrustedloanstheprincipalofwhichmaybeunrecoverableorwhichmayotherwisebeimpaired:
□Applicable√N/A
4.Materialcontractsrelatingtoday-to-dayoperation
□Applicable√N/A
5.Othermaterialcontracts
□Applicable√N/AWehavenotenteredintoanyothermaterialcontractduringthereportingperiod.XVIII.Socialresponsibility
1.PerformanceofsocialresponsibilityPleaserefertoour2020ReportonSustainableDevelopmentthathasbeenfullypublishedonourdesignatedwebsiteforinformationdisclosure,http://www.cninfo.com.cn,onthedateofthisAnnualReport.
2.Performanceofsocialresponsibilityfortargetedpovertyalleviation
Wehavenotcarriedoutanytargetedpovertyalleviationprogramduringthereportingperiodanddonothaveanytargetedpovertyalleviationprogramforthetimebeing.
3.Environmentalprotection
WhethertheCompanyoranyofitssubsidiariesisindentifiedasamajorpolluterbytheenvironmentalprotectionauthority?
□Yes√No
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
NoNeitherwenoranyofoursubsidiarieshasbeenidentifiedasamajorpolluterbytheenvironmentalprotectionauthorityduringthereportingperiod.
XIX.Othersignificantmatters
√Applicable□N/AInFebruary2020,wereceivedtheReplyonApprovingthePublicIssuanceofConvertibleCorporateBondsbyLuxsharePrecisionIndustryCo.,Ltd.(ZhengJianXuKe[2020]No.247)fromtheChinaSecuritiesRegulatoryCommission,whichapproveduspubliclyissuingconvertiblecorporatebondsinanaggregateamountofRMB3billionwithatermofsixyears.OnNovember3,2020,wepubliclyissued30?000?000convertiblecorporatebondsofparvalueofRMB100each,andraisedRMB3?000?000?000.00intotal.Thecouponrateofsuchconvertiblecorporatebondsis0.10%forthefirstyear,0.20%forthesecondyear,0.30%forthethirdyear,1.50%forthefourthyear,1.80%forthefifthyearand2.00%forthesixthyear.UponapprovalbytheShenzhenStockExchange,suchconvertiblecorporatebondswerelistedandtradedontheShenzhenStockExchangeonDecember2,2020undertheshortname“LuxshareConvertibleBonds”andbondcode“128136”.
XX.SignificantmattersconcerningthesubsidiariesoftheCompany
□Applicable√N/A
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
SectionVIChangesinSharesandShareholders
I.Changesinshares
1.Changesinshares
Unit:Share
Beforethechange | +,- | Afterthechange | |||||||
Number | % | Newshares | Bonusshares | Capitalizationofcapitalreserves | Others | Subtotal | Number | % | |
I.Non-tradableshares | 6,560,918 | 0.12% | 2,028,919 | 2,418,084 | 4,447,003 | 11,007,921 | 0.16% | ||
1.SharesheldbytheState | |||||||||
2.SharesheldbyState-ownedcorporations | |||||||||
3.Sharesheldbyotherdomesticinvestors | 887,250 | 0.02% | 304,170 | 1,660,388 | 1,964,558 | 2,851,808 | 0.04% | ||
Incl.:Sharesheldbydomesticnon-State-ownedcorporations | 0 | 0.00% | |||||||
Sharesheldbydomesticnaturalpersons | 887,250 | 0.02% | 304,170 | 1,660,388 | 1,964,558 | 2,851,808 | 0.04% | ||
4.Sharesheldbyforeigninvestors | 5,673,668 | 0.11% | 1,724,749 | 757,696 | 2,482,445 | 8,156,113 | 0.12% | ||
Incl.:Sharesheldbyforeigncorporations | |||||||||
Sharesheldbyforeignnaturalpersons | 5,673,668 | 0.11% | 1,724,749 | 757,696 | 2,482,445 | 8,156,113 | 0.12% | ||
II.Tradableshares | 5,358,554,675 | 99.88% | 1,609,514,208 | 38,756,987 | 1,648,271,195 | 7,006,825,870 | 99.84% | ||
1.RMB-denominatedordinaryshares | 5,358,554,675 | 99.88% | 1,609,514,208 | 38,756,987 | 1,648,271,195 | 7,006,825,870 | 99.84% | ||
2.Foreigncurrency-denominatedshareslisteddomestically | |||||||||
3.Foreigncurrency-denominatedshareslistedoverseas | |||||||||
4.Others | |||||||||
III.Totalshares | 5,365,115,593 | 100.00% | 1,611,543,127 | 41,175,071 | 1,652,718,198 | 7,017,833,791 | 100.00% |
Reasonsofchangesinshares:
√Applicable□N/A
1.Uponapprovalbythe17
thmeetingofthe4
thBoardofDirectorsandthe2019annualshareholders’meeting,onJune17,2019,weimplementedtheproposalsforprofitdistributionandtransferofcapitalreservetosharecapitalfor2019,pursuanttowhich,onthebasisofthetotalsharecapitalof5,372,327,958sharesasofJune16,2020,wedistributedtoallshareholdersacashdividendofRMB1.199884(inclusiveoftax)per10shares,orRMB644,617,443.60intotal,andissued2.999711additionalsharesper10shares,or1,611,543,127sharesintotal,throughtransferofcapitalreservetosharecapital,asaresultofwhich,ourtotalsharecapitalbecame6,983,871,085shares.
2.The13
th
,27
th
and19
th
meetingsofthe4
th
BoardofDirectorsdeterminedthatthevestingconditionsforthefirstandsecondvestingperiodsofthe2018stockoptionincentiveplanandthefirstvestingperiodofthe2019stockoptionincentiveplanhadbeensatisfiedrespectively,andapprovedthattheawardeesmayexercisetherelevantstockoptionsvestedthereunderintheirsolediscretion.Duringthereportingperiod,weissued41,175,071additionalsharesasaresultofexerciseofstockoptionsbytheawardeesunderourstockoptionincentiveplans.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Approvalofchangesinshares:
√Applicable□N/A
1.Approvalbythe17
thmeetingofthe4
thBoardofDirectorsandthe2019annualshareholders’meeting.
2.Approvalbythe13
th,27thand19thmeetingsofthe4
thBoardofDirectors.Transferofshareownership:
√Applicable□N/A
1.Ex-rightsdateoftheequitydistributionfortheyearof2019:June17,2020.
2.Periodinwhichthestockoptionsvestedinthefirstvestingperiodofthe2018stockoptionincentiveplanmaybeexercisedbytherelevantawardeesintheirsolediscretion:FromDecember18,2019toSeptember24,2020.Periodinwhichthestockoptionsvestedinthesecondvestingperiodofthe2018stockoptionincentiveplanmaybeexercisedbytherelevantawardeesintheirsolediscretion:FromDecember21,2020toSeptember24,2021.Periodinwhichthestockoptionsvestedinthefirstvestingperiodofthe2019stockoptionincentiveplanmaybeexercisedbytherelevantawardeesintheirsolediscretion:FromJuly7,2020toApril21,2021.Progressofsharerepurchase:
□Applicable√N/AProgressofsalesofrepurchasedsharesthroughcallauction:
□Applicable√N/AEffectofchangesinsharesonthebasicearningspershare,dilutedearningspershare,netassetspershareattributabletoordinaryshareholdersandotherfinancialindicatorsoftheCompanyintheprecedingyearandthemostrecentreportingperiod:
□Applicable√N/AOtherinformationdisclosedastheCompanydeemsnecessaryorrequiredbythesecuritiesregulatoryauthorities:
□Applicable√N/A
2.Changesinnon-tradableshares
√Applicable□N/A
Unit:Share
Shareholder | Balanceofnon-tradablesharesasatJanuary1,2020 | Numberofnon-tradablesharesunlockedinthereportingperiod | Numberofnon-tradablesharesincreasedinthereportingperiod | Balanceofnon-tradablesharesasatDecember31,2020 | Reasonforrestriction | Unlockdate |
XUEHaigao | 253,500 | 659,078 | 0 | 912,578 | Non-tradablesharesheldbyaretiredexecutive(withrespecttothesharesheldbytheretired | Withrespecttothesharesheldbytheretiredexecutivepriortotheexpirationofhistermofoffice, |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
executivepriortotheexpirationofhistermofoffice,100%ofsuchsharesshallbelockedupwithinsixmonthsafterheleavestheCompany;andduringhisoriginaltermofoffice,75%ofthenon-tradablesharesheldbyhimattheendofeachyearshallbelockedupinthefollowingyear.) | 100%ofsuchsharesshallbelockedupwithinsixmonthsafterheleavestheCompany;andduringhisoriginaltermofoffice,thenon-tradablesharesheldbyhimatthebeginningofeachyearshallbeunlockedinsuchproportionasprescribed. | |||||
LIBin | 507,000 | 1,064,664 | 0 | 1,571,664 | Non-tradablesharesheldbyadirectororexecutive(75%ofthenon-tradablesharesheldbyhimattheendofeachyearshallbelockedupinthefollowingyear.) | Thenon-tradablesharesheldbyhimatthebeginningofeachyearshallbeunlockedinsuchproportionasprescribed. |
XIONGTengfang | 126,750 | 240,816 | 0 | 367,566 | Non-tradablesharesheldbyaretiredexecutive(withrespecttothesharesheldbytheretiredexecutivepriortotheexpirationofhistermofoffice,100%ofsuchsharesshallbelockedupwithinsixmonthsafterheleavestheCompany;andduringhisoriginaltermofoffice,75%ofthenon-tradablesharesheldbyhimattheendofeachyearshallbelockedupinthefollowingyear.) | Withrespecttothesharesheldbytheretiredexecutivepriortotheexpirationofhistermofoffice,100%ofsuchsharesshallbelockedupwithinsixmonthsafterheleavestheCompany;andduringhisoriginaltermofoffice,thenon-tradablesharesheldbyhimatthebeginningofeachyearshallbeunlockedinsuchproportionasprescribed. |
HUANGDawei | 126,750 | 202,792 | 0 | 329,542 | Non-tradablesharesheldbyanexecutive(75% | Thenon-tradablesharesheldbyhimatthe |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
ofthenon-tradablesharesheldbyhimattheendofeachyearshallbelockedupinthefollowingyear.) | beginningofeachyearshallbeunlockedinsuchproportionasprescribed. | |||||
YEYiling | 185,055 | 397,473 | 0 | 582,528 | Non-tradablesharesheldbyadirectororexecutive(75%ofthenon-tradablesharesheldbyhimattheendofeachyearshallbelockedupinthefollowingyear.) | Thenon-tradablesharesheldbyhimatthebeginningofeachyearshallbeunlockedinsuchproportionasprescribed. |
WUTiansong | 0 | 273,776 | 0 | 273,776 | Non-tradablesharesheldbyanexecutive(75%ofthenon-tradablesharesheldbyhimattheendofeachyearshallbelockedupinthefollowingyear.) | Thenon-tradablesharesheldbyhimatthebeginningofeachyearshallbeunlockedinsuchproportionasprescribed. |
WANGLaisheng | 5,361,863 | 1,608,404 | 0 | 6,970,267 | Non-tradablesharesheldbyadirector(75%ofthenon-tradablesharesheldbyhimattheendofeachyearshallbelockedupinthefollowingyear.) | Thenon-tradablesharesheldbyhimatthebeginningofeachyearshallbeunlockedinsuchproportionasprescribed. |
Total | 6,560,918 | 4,447,003 | 0 | 11,007,921 | -- | -- |
II.Offeringandlistingofsecurities
1.Offeringofsecurities(otherthanpreferredshares)duringthereportingperiod
√Applicable□N/A
Nameofstockanditsderivativesecurities | Offeringdate | Offeringprice(orrate) | Numberoffered | Dateoflisting | Numberapprovedtobelisted | Expirydate | Informationdisclosureavailableat | Dateofdisclosure |
Stock | ||||||||
Convertiblecorporatebonds,separatelytradedconvertiblecorporatebondsandcorporatebonds | ||||||||
LuxshareConvertibleBonds | November3,2020 | RMB100perbond | 30,000,000 | December2,2020 | 30,000,000 | November2,2026 | ||
Otherderivativesecurities |
Explanationabouttheofferingofsecurities(otherthanpreferredshares)duringthereportingperiod:
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
UponapprovalbytheChinaSecuritiesRegulatoryCommissionundertheDocumentZhengJianXuKe[2020]No.247,onNovember3,2020,wepubliclyissued30?000?000convertiblecorporatebondsofparvalueofRMB100each,andraisedRMB3?000?000?000.00intotal.Thecouponrateofsuchconvertiblecorporatebondsis0.10%forthefirstyear,0.20%forthesecondyear,0.30%forthethirdyear,1.50%forthefourthyear,1.80%forthefifthyearand2.00%forthesixthyear.UponapprovalbytheShenzhenStockExchangeundertheDocumentShenZhengShang[2020]No.1170,suchconvertiblecorporatebondswerelistedandtradedontheShenzhenStockExchangeonDecember2,2020undertheshortname“LuxshareConvertibleBonds”andbondcode“128136”.
2.Changesintotalnumberofshares,shareholdingstructure,andstructureofassetsandliabilitiesoftheCompany
√Applicable□N/A
1.Uponapprovalbythe17
thmeetingofthe4
thBoardofDirectorsandthe2019annualshareholders’meeting,onJune17,2019,weimplementedtheproposalsforprofitdistributionandtransferofcapitalreservetosharecapitalfor2019,pursuanttowhich,onthebasisofthetotalsharecapitalof5,372,327,958sharesasofJune16,2020,wedistributedtoallshareholdersacashdividendofRMB1.199884(inclusiveoftax)per10shares,orRMB644,617,443.60intotal,andissued2.999711additionalsharesper10shares,or1,611,543,127sharesintotal,throughtransferofcapitalreservetosharecapital,asaresultofwhich,ourtotalsharecapitalbecame6,983,871,085shares.
2.The13
th,27thand19thmeetingsofthe4
thBoardofDirectorsdeterminedthatthevestingconditionsforthefirstandsecondvestingperiodsofthe2018stockoptionincentiveplanandthefirstvestingperiodofthe2019stockoptionincentiveplanhadbeensatisfiedrespectively,andapprovedthattheawardeesmayexercisetherelevantstockoptionsvestedintheirsolediscretion.Duringthereportingperiod,weissued41,175,071additionalsharesasaresultofexerciseofstockoptionsbytheawardeesunderourstockoptionincentiveplans.
3.Outstandingemployeeshares
□Applicable√N/A
III.Shareholdersandactualcontrollers
1.NumberofshareholdersandshareholdingstructureoftheCompany
Unit:Share
Totalnumberofordinaryshareholdersattheendofthereportingperiod | 322,623 | Totalnumberofordinaryshareholdersattheendofthemonthimmediatelyprecedingthedateofthisannualreport | 478,840 | Totalnumberofpreferredshareholderswhosevotingrightshadbeenrestitutedattheendofthereportingperiod(ifany)(Note8) | 0 | Totalnumberofpreferredshareholderswhosevotingrightshadbeenrestitutedattheendofthemonthimmediatelyprecedingthedateofthisannualreport(ifany)(Note8) | 0 | ||||||||
Shareholdingofordinaryshareholdersholdingmorethan5%ofthesharesortop10ordinaryshareholders | |||||||||||||||
Nameofshareholder | Statusofshareholder | Shareholdingpercentage | No.ofordinarysharesheldattheendofthereportingperiod | Changesinshareholdingduringthereportingperiod | No.ofnon-tradableordinarysharesheld | No.oftradableordinarysharesheld | Pledgeorfreeze | ||||||||
Statusofshares | Number | ||||||||||||||
LuxsharePrecisionLimited(HK) | Foreigncorporation | 40.90% | 2,870,246,069 | -266?482?693 | 0 | 2,870,246,069 | Pledged | 623,072,952 | |||||||
HongKongSecuritiesClearingCompanyLimited | Foreigncorporation | 6.92% | 485,552,880 | 78?241?205 | 0 | 485,552,880 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
CentralHuijinAssetManagementCo.,Ltd. | Statedownedcorporation | 1.38% | 96,584,014 | 0 | 96,584,014 | |||||
ChinaSecuritiesFinanceCorporationLimited | Domesticnon-statedownedcorporation | 1.20% | 84,428,888 | 0 | 84,428,888 | |||||
PegatronTechnology(Shanghai)CoLtd | Domesticnon-statedownedcorporation | 0.57% | 39,845,105 | 11?070?199 | 0 | 39,845,105 | ||||
EFund-AgriculturalBankofChina-EFundZhongzhengFinancialAssetManagementPlan | Domesticnon-statedownedcorporation | 0.55% | 38,656,343 | 0 | 38,656,343 | |||||
ChinaAMC-AgriculturalBankofChina-ChinaAMCZhongzhengFinancialAssetManagementPlan | Domesticnon-statedownedcorporation | 0.55% | 38,576,831 | 0 | 38,576,831 | |||||
ZhongOuFund-AgriculturalBankofChina-ZhongOuZhongzhengFinancialAssetManagementPlan | Domesticnon-statedownedcorporation | 0.55% | 38,557,184 | 0 | 38,557,184 | |||||
YinhuaFund-AgriculturalBankofChina-YinhuaZhongzhengFinancialAssetManagementPlan | Domesticnon-statedownedcorporation | 0.55% | 38,508,814 | 0 | 38,508,814 | |||||
CollateralsecuritiesaccountforcustomermargintradingofHuataiSecuritiesCo.,Ltd. | Domesticnon-statedownedcorporation | 0.52% | 36,747,171 | 0 | 36,747,171 | |||||
Strategicinvestorsorgeneralcorporationsbecomingtop10ordinaryshareholdersasaresultofrightsissues(ifany)(Note3) | N/A | |||||||||
Affiliatesorconcertpartiesamongtheshareholderslistedabove | 1.LuxsharePrecisionLimited(HK)isourcontrollingshareholder.2.WearenotawarewhetherthereareaffiliatesorconcertpartiesasdefinedintheAdministrativeMeasuresforInformationDisclosurebytheListedCompaniesRelatingtoChangesinSharesHeldbyShareholdersamongtheshareholderslistedabove. | |||||||||
Delegationorwaiverofvotingrightsorownershipofvotingrightsasaproxyinrespectoftheshareholderslistedabove | N/A | |||||||||
Sharesheldbytop10holdersoftradableshares | ||||||||||
Shareholder | Numberoftradablesharesheldattheendofthereportingperiod | Typeandnumberofshares | ||||||||
Type | Number | |||||||||
LuxsharePrecisionLimited(HK) | 2,870,246,069 | RMB-denominatedordinaryshare | 2,870,246,069 | |||||||
HongKongSecuritiesClearingCompanyLimited | 485,552,880 | RMB-denominatedordinaryshare | 485,552,880 | |||||||
CentralHuijinAssetManagementCo.,Ltd. | 96,584,014 | RMB-denominatedordinaryshare | 96,584,014 | |||||||
ChinaSecuritiesFinanceCorporationLimited | 84,428,888 | RMB-denominatedordinaryshare | 84,428,888 | |||||||
PegatronTechnology(Shanghai)CoLtd | 39,845,105 | RMB-denominatedordinaryshare | 39,845,105 | |||||||
EFund-AgriculturalBankofChina-EFundZhongzhengFinancialAssetManagementPlan | 38,656,343 | RMB-denominatedordinaryshare | 38,656,343 | |||||||
ChinaAMC-AgriculturalBankofChina-ChinaAMCZhongzhengFinancialAssetManagementPlan | 38,576,831 | RMB-denominatedordinaryshare | 38,576,831 | |||||||
ZhongOuFund-AgriculturalBankofChina-ZhongOuZhongzhengFinancialAssetManagementPlan | 38,557,184 | RMB-denominatedordinaryshare | 38,557,184 | |||||||
YinhuaFund-AgriculturalBankofChina-YinhuaZhongzhengFinancialAssetManagementPlan | 38,508,814 | RMB-denominatedordinaryshare | 38,508,814 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
CollateralsecuritiesaccountforcustomermargintradingofHuataiSecuritiesCo.,Ltd. | 36,747,171 | RMB-denominatedordinaryshare | 36,747,171 |
Affiliatesorconcertpartiesamongtop10holdersoftradableordinaryshares,andamongtop10holdersoftradableordinarysharesandtop10ordinaryshareholders | N/A | ||
Engagementbytop10ordinaryshareholdersinmargintrading(ifany)(Note4) | N/A |
Didanytop10ordinaryshareholderortop10holderoftradableordinarysharesconductanytransactionunderrepurchaseagreementduringthereportingperiod?
□Yes√NoNotop10ordinaryshareholderortop10holderoftradableordinaryshareshasconductedanytransactionunderrepurchaseagreementduringthereportingperiod
2.ControllingshareholderoftheCompany
Natureofcontrollingshareholder:ControlledbyforeigninvestorTypeofcontrollingshareholder:Corporation
Nameofcontrollingshareholder | Legalrepresentative/principal | Dateofincorporation | Organizationcode | Mainbusiness |
LuxsharePrecisionLimited(HK) | WANGLaichun | August27,1999 | Investmentandshareholding | |
Sharesheldbythecontrollingshareholderinothercompanieslistedondomesticorforeignstockexchangesduringthereportingperiod | None |
Changeinthecontrollingshareholderduringthereportingperiod:
□Applicable√N/AOurcontrollingshareholderhasremainedunchangedduringthereportingperiod.
3.ActualcontrollersoftheCompanyandtheirconcertedpartiesNatureofactualcontrollers:NaturalpersonTypeofactualcontrollers:Naturalperson
Nameofactualcontroller | Relationshipwiththeactualcontroller | Nationality | Whetherornotholdaresidencepermitinanyothercountryorregion |
WANGLaichun | Herself | HongKong | No |
WANGLaisheng | Himself | HongKong | No |
Mainoccupationsandtitles | Ms.WANGLaichun,ChairmanandGeneralManagerofourCompany,formerdirectorofShenzhenHigh-techIndustryAssociationandViceChairmanofShenzhenElectronicsIndustryAssociation,purchasedsharesofLuxshareHKjointlywithMr.WANGLaishengin1999,andfoundedandservedasChairmanofLuxsharePrecisionIndustry(Shenzhen)Co.,Ltd.in2004throughLuxshareHK.Mr.WANGLaisheng,ViceChairmanofourCompanyandchairmanofXiexunElectronic(Ji’an)Co.,Ltd.,DongguanLuxsharePrecisionIndustryCo.,Ltd.andDongguanLeaderPrecisionIndustryCo.,Ltd.,formermanagingdirectorofShenzhenQualityAssociationanddirectorofGuangdongLaboratoryFederation,purchasedsharesofLuxshareHKjointlywithMs.WANGLaichunin1999,andfoundedLuxsharePrecisionIndustry(Shenzhen)Co.,Ltd.jointlywithMs.WANGLaichunin2004 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
throughLuxshareHK. | |
Whetherornotcontrolanyothercompanylistedonadomesticorforeignstockexchangeinthepasttenyears | None |
Changeintheactualcontrollersduringthereportingperiod:
□Applicable√N/AOuractualcontrollershaveremainedunchangedduringthereportingperiod.DiagramofownershipandcontrolrelationshipbetweentheCompanyanditsactualcontrollers:
WhethertheactualcontrollerscontroltheCompanythroughanytrustorotherwaysofassetmanagement?
□Applicable√N/A
4.Othercorporateshareholdersowningmorethan10%oftheshares
□Applicable√N/A
5.Restrictionsonthesalesofsharesbythecontrollingshareholder,actualcontrollers,partiestoreorganizationandothercovenantors
□Applicable√N/A
WANGLaichun | WANGLaisheng |
LuxshareHKLuxshare-ICT
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SectionVIIPreferredShares
□Applicable√N/AWedidnothaveanypreferredshareduringthereportingperiod.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
SectionVIIIConvertibleCorporateBonds
√Applicable□N/A
I.HistoricadjustmentsofconversionpriceTheinitialconversionpriceofourconvertiblecorporatebondswasRMB58.62pershare.Sinceweissued3,281,228additionalsharesasaresultofexerciseofstockoptionsbytherelevantawardeesunderourshareincentiveplansbetweenNovember3,2020(theofferingdateofourconvertiblecorporatebonds),theconversionpricewasadjustedfromRMB58.62persharetoRMB58.60pershare,effectivefromDecember14,2020.Sinceweissued17,765,322additionalsharesasaresultofexerciseofstockoptionsbytherelevantawardeesunderourshareincentiveplansonDecember25,2020,theconversionpricewasfurtheradjustedfromRMB58.60persharetoRMB58.48pershare,effectivefromDecember30,2020.Asattheendofthereportingperiod,theconversionpriceofourconvertiblecorporatebondswasRMB58.48pershare.II.Aggregatenumberofconvertiblecorporatebondsconverted
□Applicable√N/A
III.Top10holdersofconvertiblecorporatebonds
Unit:Share
No. | Nameofholderofconvertiblecorporatebonds | Natureofholderofconvertiblecorporatebonds | Numberofconvertiblecorporatebondsheldattheendofthereportingperiod | Amountofconvertiblecorporatebondsheldattheendofthereportingperiod(RMB) | Percentageofconvertiblecorporatebondsheldattheendofthereportingperiod |
1 | PingAnBankCo.,Ltd.–ChangxinConvertibleBonds-typeSecuritiesInvestmentFund | Others | 1,743,029 | 174,302,900.00 | 5.81% |
2 | PingAnSelectedValue-addedNo.1MixedEndowmentProduct-IndustrialandCommercialBankofChinaLimited | Others | 831,717 | 83,171,700.00 | 2.77% |
3 | NortheastSecuritiesCo.,Ltd. | Statedownedcorporation | 550,303 | 55,030,300.00 | 1.83% |
4 | NationalSocialSecurityFundPortfolioNo.1005 | Others | 500,515 | 50,051,500.00 | 1.67% |
5 | ShanxiSecuritiesCo.,Ltd. | Statedownedcorporation | 500,070 | 50,007,000.00 | 1.67% |
6 | GuohaiSecuritiesCo.,Ltd. | Statedownedcorporation | 404,499 | 40,449,900.00 | 1.35% |
7 | IndustrialandCommercialBankofChinaLimited–ZhongOuConvertibleBonds-typeSecuritiesInvestmentFund | Others | 402,106 | 40,210,600.00 | 1.34% |
8 | IndustrialandCommercialBankofChinaLimited-99FundConvertibleBonds-typeSecuritiesInvestmentFund | Others | 400,000 | 40,000,000.00 | 1.33% |
9 | ICBCCreditSuisseMixedEndowmentProduct-IndustrialandCommercialBankofChinaLimited | Others | 365,776 | 36,577,600.00 | 1.22% |
10 | ChinaEverbrightBankCo.,Ltd.-BoseraEnhancedConvertibleBonds-typeSecuritiesInvestmentFund | Others | 351,333 | 35,133,300.00 | 1.17% |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
IV.Materialchangesintheprofitability,assetsandcreditstandingoftheguarantor
□Applicable√N/A
V.Changesintheassets,liabilitiesandcreditstandingoftheCompanyattheendofthereportingperiodandcasharrangementforrepaymentinsubsequentyearsMainaccountingdataandfinancialindicatorsoftheCompanyasattheendofthereportingperiodandtheendoftheprecedingyear:
Item | December31,2020 | December31,2019 | Y/Y%Change |
Currentratio | 1.29 | 1.24 | 0.05 |
Equity-debtratio | 55.86 | 55.95 | -0.09 |
Quickratio | 0.9 | 0.93 | -0.03 |
2020 | 2019 | Y/Y%Change | |
EBITDA-to-interestcoverageratio | 27.23 | 20.53 | 6.69 |
Rateofloansdueandrepaid | 100% | 100% | 0% |
Rateofinterestdueandpaid | 100% | 100% | 0% |
TheY/Ychangeofalloftheindictorssetforthaboveisbelow30%.Duringthereportingperiod,weappointedUnitedCreditRatingsCo.,Ltd.toanalyzeandrateourlong-termcreditstandingandtheconvertiblecorporatebondspubliclyissuedbyus,whichratedourlong-termcreditstandingas“AA+”,determinedourratingoutlooktobestable,andratedtheconvertiblecorporatebondspubliclyissuedbyusas“AA+”,andisoftheopinionthattheriskthatwebecomeunabletorepayourconvertiblecorporatebondsuponmaturitythereofisverylow.Refertoourdesignatedwebsiteforinformationdisclosure,http://www.cninfo.com.cn,fortheCreditRatingReportonthePublicOfferingofConvertibleCorporateBondsin2020(LianHe[2020]No.2436).Duringthereportingperiod,theratingofourconvertiblecorporatebondshasremainedunchanged.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
SectionIXDirectors,Supervisors,SeniorManagementandEmployeesI.Changesinsharesheldbydirectors,supervisorsandseniormanagement
Name | Position | Status | Gender | Age | Officetermfrom | Officetermto | Numberofsharesheldatthebeginningoftheperiod:(unit:share) | Numberofincreasedsharesforthecurrentperiod(unit:share) | Numberofreducedsharesforthecurrentperiod(unit:share) | Otherincreasesordecreases(unit:share) | Numberofsharesheldattheendoftheperiod(unit:share) |
WANGLaichun | BoardChairmanandGeneralManager | Current | Female | 54 | February22,2009 | May21,2021 | 0 | 0 | 0 | 0 | 0 |
WANGLaisheng | ViceChairmanoftheBoard | Current | Male | 57 | February22,2009 | May21,2021 | 7,149,151 | 0 | 2,323,422 | 2,144,538 | 6,970,267 |
LIBin | DirectorandDeputyGeneralManager | Current | Male | 44 | April18,2012 | May21,2021 | 676,000 | 1,216,772 | 0 | 202,780 | 2,095,552 |
YEYiling | DirectorandDeputyGeneralManager | Current | Female | 50 | November3,2011 | May21,2021 | 246,740 | 455,950 | 0 | 74,015 | 776,705 |
XUHuaibin | Independentdirector | Current | Male | 64 | May6,2015 | May21,2021 | 0 | 0 | 0 | 0 | 0 |
LINYifei | Independentdirector | Current | Male | 46 | May6,2015 | May21,2021 | 0 | 0 | 0 | 0 | 0 |
ZHANGYing | Independentdirector | Current | Female | 58 | May22,2018 | May21,2021 | 0 | 0 | 0 | 0 | 0 |
XIAYanrong | Supervisor | Current | Female | 40 | December19,2017 | May21,2021 | 0 | 0 | 0 | 0 | 0 |
MORongying | Supervisor | Current | Female | 41 | May22,2018 | May21,2021 | 0 | 0 | 0 | 0 | 0 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
YIPeizan | Supervisor | Current | Female | 36 | February22,2009 | May21,2021 | 0 | 0 | 0 | 0 | 0 |
HUANGDawei | DeputyGeneralManagerandBoardSecretary | Current | Male | 49 | May25,2018 | May21,2021 | 169,000 | 219,695 | 0 | 50,695 | 439,390 |
WUTiansong | CFO | Current | Male | 51 | April15,2019 | May21,2021 | 0 | 334,617 | 0 | 30,417 | 365,034 |
XUEHaigao | DeputyGeneralManager | Resigned | Male | 42 | May25,2018 | April20,2020 | 338,000 | 777,382 | 0 | 101,390 | 1,216,772 |
XIONGTengfang | DeputyGeneralManager | Resigned | Male | 39 | May25,2018 | April21,2020 | 169,000 | 270,393 | 0 | 50,695 | 490,088 |
Total | -- | -- | -- | -- | -- | -- | 8,747,891 | 3,274,809 | 2,323,422 | 2,654,530 | 12,353,808 |
II.ChangesofDirectors,SupervisorsandSeniorManagementoftheCompany
√Applicable□N/A
Name | Position | Type | Date | Reason |
XIONGTengfang | SeniorManagement | Dismissal | April20,2020 | BasedontherelevantdevelopmentneedsoftheCompany’scommunicationbusiness,Mr.XIONGTengfangresignedasthedeputygeneralmanageroftheCompanyandafterresignation,continuedtoworkintheCompanywithfocusontheoperationandmanagementoftheCompany’scommunicationbusiness. |
XUEHaigao | SeniorManagement | Dismissal | April20,2020 | BasedontherelevantdevelopmentneedsoftheCompany’scommunicationbusiness,Mr.XUEHaigaoresignedasthedeputygeneralmanageroftheCompanyandafterresignation,continuedtoworkintheCompanywiththefocusontheoperationandmanagementoftheCompany’scommunicationbusiness. |
III.JobTitles
Abouttheeducationbackgroundsandmainworkexperiencesoftheexistingdirectors,supervisorsandseniormanagementoftheCompanyandtheircurrentjobdutiesintheCompany
(I)DirectorsMs.WANGLaichun,54yearsold,fromHongKong,China,holdstheEMBAfromShenzhenGraduateSchoolofTsinghua
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
University,andworksastheChairmanoftheBoardandGeneralManageroftheCompany.SheservedasaDirectorofShenzhenHigh-techIndustryAssociationandViceChairmanofShenzhenElectronicsIndustryAssociation.Ms.WANGhadworkedintheWiringDivisionofFoxconnunderTaiwanHonHaifornearlytenyears,andleftFoxconnin1997tostartherownbusiness.In1999,Ms.WANGLaichunandMr.WANGLaishengjointlypurchasedtheequityinLuxshareLimited.TheyfoundedLuxsharePrecisionIndustry(Shenzhen)Co.,Ltd.in2004throughinvestmentbyLuxshareLimitedandworkedastheBoardChairman.Ms.WANGLaichunisthememberofthe1st,2ndand3rdsessionsoftheboardofdirectors.Mr.WANGLaisheng,57yearsold,fromHongKong,China,worksasViceChairmanoftheBoardoftheCompanyandtheBoardChairmanofXiexunElectronic(Ji’an)Co.,Ltd.andofXiechuangPrecisionIndustry(Shenzhen)Co.,Ltd..HeservedastheManagingDirectorofShenzhenQualityAssociationandaDirectorofGuangdongLaboratoryFederation.Mr.WANGLaishengventuredintoindividualbusinesssincethemid-1980sandhasmorethantenyearsofbusinessexperience;Mr.WANGLaishengandMs.WANGLaichunjointlypurchasetheequityinLuxshareLimitedin1999andin2004hefoundedLuxsharePrecisionIndustry(Shenzhen)Co.,Ltd.withMs.WANGLaichun.Mr.WANGLaishengisamemberofthe1st,2ndand3rdsessionsoftheboardofdirectors.
Mr.LIBin,44yearsold,Chinesenationality,hasamaster’sdegreeinIndustrialEngineeringfromShanghaiJiaotongUniversity,andworksasadirector,deputygeneralmanagerandcoretechnicianoftheCompany.HejoinedFuhongPrecisionCompanyinJuly2000,responsiblefortechnicaldevelopmentandmanagementofhigh-frequencydatacableconnectioncomponents,andjoinedLantoElectronicLimitedin2009,responsibleforproductdevelopmentandmanagement.
YEYiling,50yearsold,acitizenofTaiwan,China,hasabachelor’sdegreeinAccountingfromSoochowUniversity,andworksasadirector,deputygeneralmanagerandCFOoftheCompany.Ms.YEYilinghadworkedasaseniorauditorintheAuditorDepartmentinPricewaterhouseCoopersfromJuly1996toJune2000,andfromJuly2000toNovember2008,successivelyworkedastheFinancialDirectorinWalsinLihuaCorp.,UltraSourceTechnologyCorp.andSYNMOSABIOPHARMACOPORATION,listedcompaniesinTaiwan.ShejoinedtheCompanyin2011.Ms.YEYilingobtainedthequalificationtoworkinChinesemainlandinNovember2011.
Mr.XUHuaibin,64yearsold,Chinesenationality,holdsamaster’sdegree.HeworksastheDeputySecretary-GeneraloftheEquityFinancingandListingProfessionalCommitteeofChinaSecuritiesLawResearchAssociation.HeiscurrentlyanIndependentDirectoroftheCompany.Mr.XUHuaibinwassenttoaHongKongaccountingfirmtostudythewesternindependentauditpracticewithoutchargeintheearly1990s.Afterthat,heworkedinaccountingfirmsbothatMainlandandHongKongandtheiraccountingcompaniesastheVicePresident,DeputyGeneralManager,ManagingDirectorandamongothers.Hehasobtainedthequalificationsasacertifiedpublicaccountantandcertifiedtaxagent,andthequalificationasanIndependentDirectoroftheShenzhenStockExchange.Mr.XUHuaibinisamemberofthe3rdsessionsoftheboardofdirectorsoftheCompany.
Mr.LINYifei,46yearsold,Chinesenationality,hasamaster’sdegreeintheLawsfromtheUniversityofAberdeenUnitedKingdomanddoctoraldegreeinLawsfromXiamenuniversity.HeiscurrentlytheChiefConsultantofYI&PARTNERSandanIndependentDirectorofLuxsharePrecision.Mr.LINYifeihasspecializedinlegalpracticeandresearchforabout20years,andhandledalargenumberofinternationalanddomesticarbitrationcasesinvolvingvariousfieldsofcommercialaffairs.Meanwhile,hehascompiledandtranslatedmanybooksandhasrichexperienceincommercialdisputeresolutionpracticeandresearch.Mr.LINworksasanarbitratorinmanyarbitrationinstitutionsbothathomeandabroadincludingtheInternationalArbitrationCourtoftheInternationalChamberofCommerce(ICC),HongKongInternationalArbitrationCenter(HKIAC),ShanghaiInternationalEconomicandTradeArbitrationCommission,SouthChinaInternationalEconomicandTradeArbitrationCommission,WuhanArbitration
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Commission,XiamenArbitrationCommission,ZhengzhouArbitrationCommission,andisalsoaDrectorinChinaSocietyofPrivateInternationalLawandtheManagingDirectoroftheArbitrationLawResearchAssociationofGuangdongProvinceLawSociety.Mr.LINYifeihasobtainedthequalificationtoworkasanIndependentDirectoroftheShenzhenStockExchange,andisamemberofthe3rdsessionoftheboardofdirectorsoftheCompany.Ms.ZHANGYing,58yearsold,Chinesenationality,hasadoctoraldegreeintheLawsfromWuhanUniversityandpostdoctoraldegreeintheLawsfromtheChineseAcademyofSocialSciences.SheworksasanAssociatedProfessorintheLawSchoolofShenzhenUniversityandanIndependentDirectorofLuxsharePrecision.Ms.ZHANGYingworkedasalecturerinChinaUniversityofGeosciencesin1984andin1994,anassistantresearchintheInstituteofPoliticalScienceandLawofWuhanAcademyofSocialSciences.ShehasservedastheManagingDirectoroftheChinaEuropeanLawResearchAssociationandanarbitratoroftheShenzhenArbitrationCommissionsince2009.Ms.ZHANGYinghasobtainedthequalificationtoworkasanIndependentDirectoroftheShenzhenStockExchange.(II)SupervisorsMs.XIAYanrong,40yearsold,Chinesenationality,hasabachelor’sdegreeinFinanceManagement.SheworksasasupervisoroftheCompany.Ms.XIAworkedattheFinanceDepartmentin3CEMSGroupPRIMETechnology(Guangzhou)Co.,Ltd.fromJanuary2003toApril2006,andfromApril2006toApril2009,attheFinanceDepartmentinDachangElectronicTechnology(Suzhou)Co.,Ltd.ofP-TWO.ShehasservedtheCompanysinceApril2009.Specifically,shesuccessivelyworkedastheHeadofFinanceDepartmentinLantoElectronicLimited,theHeadofFinanceDepartmentinLuxsharePrecision,andtheHeadofCreditManagementDepartmentinLuxsharePrecision.Currently,sheworksastheDirectorofCentralFinanceDepartmentandCreditManagementDepartmentoftheCompany.
Ms.MORongying,41yearsold,Chinesenationality,hasadegreeinBusinessAdministration.SheworksasasupervisoroftheCompany.Ms.MOworkedintheHeadofPlanningDepartmentinThomsonMultimedia(Dongguan)Co.,Ltd.,andhasservedLuxsharePrecisionfromJune2007.Currently,sheworksastheHeadofCentralCustomsDepartmentoftheCompany.
Ms.YIPeizan,36yearsold,Chinesenationality,joinedintheCompanyin2004andworkedatFinanceDepartmentoftheCompany.Currently,sheworksasasupervisoroftheCompany.Ms.YIPeizanisamemberofthe1st,2ndand3rdsessionsoftheboardofsupervisors.
(III)SeniorManagement
TheresumeofMs.WANGLaichunisseeninthe“Directors”ofthisSection.
TheresumeofMs.LIBinisseeninthe“Directors”ofthisSection.
TheresumeofMs.YEYilingisseeninthe“Directors”ofthisSection.
Mr.HUANGDawei,49yearsold,acitizenofTaiwan,China,hasamaster’sdegreeinIndustrialEngineeringfromNationalTsingHuaUniversity.Currently,heworksastheDeputyGeneralManagerandtheBoardSecretaryoftheCompany.HehadworkedinaFortune500company,responsibleformarketdevelopmentandoperationmanagementandinJune2013,joinedLuxshareElectronicTechnology(Kunshan)Co.,Ltd.underLuxsharePrecisionastheLegalRepresentative,adirectorandGeneralManager.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Mr.HUANGhasobtainedtheQualificationCertificateforBoardSecretaryissuedbytheShenzhenStockExchange,andhisqualificationmeetstherequirementsofRulesGoverningtheListingofSharesonShenzhenStockExchangeandotherrelevantlawsandregulationsaswellastheArticlesofAssociation.
Mr.WUTiansong,51yearsold,acitizenofTaiwan,China,hasabachelor’sdegreefromNationalTaiwanUniversityofScienceandTechnology.Currently,heworksastheHeadofFinanceDepartmentofLuxsharePrecisionIndustryCo.,Ltd..Ms.WUTiansonghadworkedasaseniorauditorintheAuditorDepartmentinDeloitteToucheTohmatsuLimitedfromAugust1996toAugust1999,andfromSeptember1999toMarch2009,successivelyworkedinUnderwritingDepartmentofTaiwanYuandaSecuritiesCorp.,andinthelistedcompanyTaiwanP-TWOINDUSTRIESINCandUNIWILLCOMPUTERCORP.astheFinanceDirector,andinIchinaTechnologies,Inc.astheFinanceDirector.HejoinedtheCompanyin2011.Positionsheldintheshareholders
√Applicable□N/A
Nameofpersonnel | Nameofshareholder | Positionsheldintheshareholder | Officetermfrom | Officetermto | Receiveremunerationsorallowancesfromshareholders? |
WANGLaichun | LuxshareLimited | Director | August27,1999 | No | |
WANGLaisheng | LuxshareLimited | Director | August27,1999 | No |
Explanationsonthepositionsheldinotherentities
√Applicable□N/A
Nameofpersonnel | Nameofotherentities | Positionsheldinotherentities | Officetermfrom | Officetermto | Receiveremunerationsorallowancesfromotherentities? |
WANGLaichun | XiexunElectronic(Ji’an)Co.,Ltd. | ViceChairmanoftheBoard | November21.2005 | No | |
WANGLaichun | FujianJKWiringSystemsCo.,Ltd. | BoardChairman | June18,2012 | No | |
WANGLaichun | BodyControlSystems | BoardChairman | July18,2018 | No | |
WANGLaisheng | XiexunElectronic(Ji’an)Co.,Ltd. | BoardChairman | November12,2005 | No | |
WANGLaisheng | LantoElectronicLimited | ViceChairmanoftheBoard | May12,2011 | No |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
WANGLaisheng | KunshanLuxsharePrecisionIndustryCo.,Ltd. | Director | October25,2011 | No | |
WANGLaisheng | DonguanXuntaoElectronicCo.,Ltd. | ViceChairmanoftheBoard | July10,2012 | No | |
WANGLaisheng | DongguanLidePrecisionIndustryCo.,Ltd. | BoardChairman | August16,2012 | No | |
WANGLaisheng | KunshanLuxsharePrecisionIndustryCo.,Ltd. | ViceChairmanoftheBoard | October25,2011 | No | |
WANGLaisheng | SuiningLuxsharePrecisionIndustryCo.,Ltd. | ExecutiveDirector | January11,2013 | No | |
WANGLaisheng | XingningLuxsharePrecisionIndustryCo.,Ltd. | ExecutiveDirector | November19,2013 | No | |
WANGLaisheng | LuxsharePrecisionIndustry(Chuzhou),Ltd. | ExecutiveDirector | March24,2014 | No | |
WANGLaisheng | FengshunLuxsharePrecisionIndustryCo.,Ltd. | ExecutiveDirector | July4,2014 | No | |
WANGLaisheng | DongguanLuxsharePrecisionIndustryCo.,Ltd. | BoardChairman | November27,2015 | No | |
WANGLaisheng | JiangxiLuxshareIntelligentManufactureCo.,Ltd. | Director | December25,2015 | No | |
Explanationsonthepositionsheldinotherentities | None |
PenaltybyregulatorsontheCompany’scurrentdirectors,supervisorsandseniormanagement,includingthoseresignedinthereportingperiodandinrecentthreeyears
□Applicable√N/A
IV.Remunerationofdirectors,supervisorsandseniormanagement
Decision-makingprocess,determinationbasisandactualpaymentofremunerationofdirectors,supervisorsandseniormanagementDuringthereportingperiod,theCompanyimplementedtheperformanceassessmentforitsdirectors,supervisorsandseniormanagement,andpaidthemtheannualincomeunderthe“monthlysalary+year-endbonus”model.TheCompanyassessedthedirectors,supervisorsandseniormanagementattheendoftheyearbasedonthebusinessconditionsoftheCompanyandworkperformanceofindividuals,anddeterminedtheirannualincomedependingontheassessmentresults.TheallowanceforanindependentdirectorisRMB80,000peryear,andthecostsfortravellingandofficeincurredbyperformanceofhisdutiesarebornebytheCompany.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Remunerationofdirectors,supervisorsandseniormanagementduringthereportingperiod
In:RMB’0000
Name | Position | Gender | Age | Status | TotalremunerationreceivedfromtheCompany(includingtax) | ReceivetheremunerationfromtheCompany’srelatedparties? |
WANGLaichun | BoardChairmanandGeneralManager | Female | 54 | Current | 240 | No |
WANGLaisheng | ViceChairmanoftheBoard | Male | 57 | Current | 240 | No |
LIBin | DirectorandDeputyGeneralManager | Male | 44 | Current | 180 | No |
YEYiling | DirectorandDeputyGeneralManager | Female | 50 | Current | 141.79 | No |
XUHuaibin | IndependentDirector | Male | 64 | Current | 8 | No |
LINYifei | IndependentDirector | Male | 46 | Current | 8 | No |
ZHANGYing | IndependentDirector | Female | 58 | Current | 8 | No |
XIAYanrong | Supervisor | Female | 40 | Current | 48 | No |
MORongying | Supervisor | Female | 41 | Current | 42 | No |
YIPeizan | Supervisor | Female | 36 | Current | 9 | No |
HUANGDawei | DeputyGeneralManagerandBoardSecretary | Male | 49 | Current | 97.15 | No |
WUTiansong | CFO | Male | 51 | Current | 119.52 | No |
XUEHaigao | DeputyGeneralManager | Male | 42 | Resigned | 98.71 | No |
XIONGTengfang | DeputyGeneralManager | Male | 39 | Resigned | 95.68 | No |
Total | -- | -- | -- | -- | 1,335.85 | -- |
EquityincentivesawardedtotheCompany’sdirectorsandseniormanagement
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
√Applicable□N/A
Unit:shares
Name | Position | Numberofexercisablesharesduringthereportingperiod | Numberofsharesexercisedduringthereportingperiod | Exercisepriceofthesharesexercisedduringthereportingperiod(RMB/share) | Marketpriceattheendofthereportingperiod(RMB/share) | Numberofrestrictedstocksheldatthebeginningoftheperiod | Numberofsharesunlockedintheperiod | Numberofrestrictedstocksnewlygrantedduringthereportingperiod | Grantpriceofrestrictedstocks(RMB/share) | Numberofrestrictedstocksheldattheendoftheperiod |
LIBin | DirectorandDeputyGeneralManager | 337,992 | 337,992 | 13.70 | 56.12 | |||||
LIBin | DirectorandDeputyGeneralManager | 878,780 | 878,780 | 10.28 | 56.12 | |||||
YEYiling | DirectorandDeputyGeneralManager | 135,196 | 135,196 | 13.70 | 56.12 | |||||
YEYiling | DirectorandDeputyGeneralManager | 320,754 | 320,754 | 10.28 | 56.12 | |||||
HUANGDawei | DeputyGeneralManagerandBoardSecretary | 219,695 | 219,695 | 10.28 | 56.12 | |||||
WUTiansong | CFO | 101,400 | 101,400 | 13.48 | 56.12 | |||||
WUTiansong | CFO | 131,817 | 131,817 | 10.28 | 56.12 | |||||
WUTiansong | CFO | 135,196 | 101,400 | 13.70 | 56.12 | |||||
XIONGTengfang | DeputyGeneralManager | 490,088 | 270,393 | 13.70 | 56.12 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
XUEHaigao | DeputyGeneralManager | 337,992 | 337,992 | 13.70 | 56.12 | |||||
XUEHaigao | DeputyGeneralManager | 439,390 | 439,390 | 10.28 | 56.12 | |||||
Total | -- | 3,528,300 | 3,274,809 | -- | -- | 0 | 0 | 0 | -- | 0 |
Remarks(ifany) | Duringthereportingperiod,thenumberofexercisablesharesfordirectorsandseniormanagementoftheCompanytotals3,528,300,representing0.05%oftotalsharecapitaloftheCompanyattheendofthereportingperiod.ThedirectorsorseniormanagementotherthanWUTiansongasaseniorofficerandXIONGTengfangasaresignedseniorofficerhaveexercisedalltheshares,withthenumberoftotalexercisedsharesbeing3,274,809.Thevestingconditionsweremetinthefirstvestingperiodof2018StockOptionIncentivePlanoftheCompany,andtheseniormanagementexercised101,400sharesatthepriceofRMB13.48pershare;thevestingconditionsweremetinthesecondvestingperiodof2018StockOptionIncentivePlan,andthedirectorsandseniormanagementexercised1,990,436sharesintheaggregateatthepriceofRMB10.28pershare;andthevestingconditionsweremetinthefirstvestingperiodof2019StockOptionIncentivePlanoftheCompany,andthedirectorsandseniormanagementexercised1,182,937sharesintheaggregateatthepriceofRMB13.7pershare. |
V.EmployeesoftheCompany
1.Numberofemployees,roletypeandeducationalbackground
Numberofcurrentemployeesintheparentcompany(person) | 515 |
Numberofcurrentemployeesinmajorsubsidiaries(person) | 171,895 |
Totalnumberofcurrentemployees(person) | 172,410 |
Totalnumberofemployeesreceivingasalaryduringthereportingperiod(person) | 172,410 |
Numberofretiredemployeesforwhichtheparentcompanyandmajorsubsidiarieshavetobearexpenses(person) | 0 |
Roletype | |
Category | Number(person) |
Productionpersonnel | 143,902 |
Salespersonnel | 2,300 |
Professionalpersonnel | 15,154 |
Financialpersonnel | 211 |
Administrativepersonnel | 10,843 |
Total | 172,410 |
Educationalbackground |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Category | Number(person) |
Bachelor’sdegreeandabove | 9,190 |
Associate’sdegree | 16,034 |
Highschool,technicalsecondaryschoolandbelow | 147,186 |
Total | 172,410 |
2.Remunerationpolicy
TheCompanyhasformulatedthemanagementmethodsonemployeesalary,performanceandyea-endbonus,providedemployeeswithcompetitivesalaryguaranteeinascientificanreasonablemanner,andsetupthecompleteemployeesalarymanagementsystem,contributedto“fiveinsurancesandonehousingfund”foremployees,andtimelypaidemployeessalariesinstrictaccordancewiththerelevantlawsandregulations,andresolutelyeliminatedtheoccurrenceofbondedlabor.Tohelpemployeesbetterunderstandthedegreeofmatchingbetweenjobresponsibilitiesandtheirowncapabilities,theCompanyhasbuiltamulti-dimensionalperformanceevaluationsystemthatincludesemployeeself-evaluationandsuperiorevaluation,soastoobjectivelyandcomprehensivelyreflectemployees’annualperformance.TheCompanyconductedtheemployeeperformancecommunicationactivitiesannuallytoensurethateachemployeecanreceivesufficientsupportandresourcesrelatedtothecareerdevelopmentinLuxsharePrecision,andtoenhanceandoptimizetheworkexperienceofeveryemployee.Wehaveestablishedvariousemployeecompensationstructures,includingyear-endbonuses,projectawards,equityincentiveforcorecadresandoutstandingemployees.Duringthereportingperiod,theCompanycontinuedtooptimizetheperformanceappraisalandfullyevaluatedtheworkperformanceoftheteamandindividuals,effectivelyimprovingtheexecutionabilityandresponsibilityawarenessofemployees.ThisisconducivetoretainingandattractingoutstandingtalentstoprovidehumanresourcesguaranteeforthegrowthoftheCompany.
3.Trainingplan
TheCompanywascommittedtostaffcareerplanningandtalentcultivation.IthasestablishedaperfecttalenttrainingsystemtoattractandmotivatemoreexcellenttalentsandpromotethecommongrowthofemployeesandtheGroup.Also,theCompanyhassetupanonlineandofflinelearningplatformtoconductthemulti-dimensionalspecialtrainingthatisdirectedtowarddifferenttypesofemployeesandnewprojects.Withthisplatform,theCompanyprovidedhierarchicalanddistincttargetedtrainingforallemployees,andoffereddifferenttrainingseriesfordifferentgroupsofpeopleandneeds.Forexample,forsenior,middleandgrassrootsmanagersandkeyhigh-potentialreservetalents,theCompanyfocusedonthe“TalentCultivationSeries”training,aimingtocreateanefficientanddynamicstaffteam;andregardingthetalentsinkeyfieldssuchasmanufacturing,R&Dtechnology,marketingandsupplychain,wefocusedonthe“AbilityImprovementSeries”training,continuouslyenhancingprofessionalcapabilitiesofemployeesindifferentpositions.Furthermore,theCompanycarriedouttheschool-enterprisecooperationandencouragedtheemployeestoobtaintheprofessionalqualificationrecognitionfromtheCompanyandsociety,soastoimprovetheproductionlevelandsocialrecognitionoftheCompanyasawhole.Meanwhile,westrivedtocreatethe“JushiSeries”trainingandbuildthelearningandcommunicationplatformsincluding“LuxshareClassroom”and“ManagementForum”,offeringopportunitiestoexcellentLuxshareemployeesforshowingthemselves.Withtheseefforts,wecreatedagoodlearningenvironmentandpromotedtheintegrationandcommunicationsbetweenthepersonnel.Inaddition,toassisttheCompanyintheimplementationofkeystrategiesandchangesinacertainperiodoftime,weofferthe“ChangeSeries”trainingbasedonthebusinessneeds.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Inordertostandardizetheemployeetrainingmanagement,theCompanyhasformulatedtheEducationandTrainingManagementMeasures,EducationandTrainingOperatingProcedures,andInternalLecturerManagementMeasuresandupdatesthem,whichclearlycovertrainingsystemsfromemployeeinduction,orientation,in-service,transfertopromotion;andeachfactoryhasformulatedtheEducationandTrainingManagementProceduresandcorrespondingmanagementmeasuresinaccordancewiththeGroup’smanagementstandards,andalsoestablishedtheannualtrainingplansforthefactoryanditsvariousdepartmentsbasedonitsannualdevelopmentplanning,effectivelyenhancingthecorecompetitivenessofemployeesandtheCompanyandachievingthewin-wingoalofimprovingemployees’professionalabilityandrealizingthesustainablegrowthoftheCompany.
4.Laboroutsourcing
□Applicable√N/A
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
SectionXCorporateGovernance
I.BasicIntroduction
TheCompanyhasalwaysbeencommittedtopromotingtheestablishmentandimprovementofamoderncorporatesystem,regulatingtheoperationofthelistedcompanyandperfectingthecorporategovernancestructure.Duringthereportingperiod,theCompanykeptonperfectingthecorporategovernancestructure,establishedasoundcorporatesystem,regulatedcorporateoperation,strengthenedinformationdisclosure,activelyconductedinvestorrelationshipmanagementandimprovedcorporategovernancelevelinstrictaccordancewiththerequirementsoftheCompaniesLaw,theSecuritiesLaw,theRulesGoverningListingofStocksonShenzhenStockExchange,theGuidelinesforArticlesofAssociationofListedCompanies,theCodeofCorporateGovernanceofListedCompanies,theGuidelinesoftheShenzhenStockExchangeforCompliantOperationoftheListedCompaniesandotherlaws,regulationsandregulatorydocuments.
(I)ShareholdersandShareholders’GeneralMeeting:TheCompanystandardizedtheconvening,holdingandvotingproceduresofshareholders’generalmeetingsinstrictaccordancewiththeCompaniesLaws,theArticlesofAssociation,theRulesofProcedurefortheShareholders’GeneralMeetingandotherprovisionsandrequirementstoequallytreatallshareholderssothatshareholders,especiallysmallandmediumshareholders,canfullyexercisetheirrightsbyusingacombinationofon-siteandonlinevoting.Whentheshareholders’generalmeetingreviewstherelatedpartytransactions,therelatedshareholderswererecusedfromvoting,whichdoesnotdamagetheinterestsofshareholders;whenvotingonproposalsthataffecttheinterestsofsmallandmediuminvestors,thevotesofsmallandmediuminvestorsarecountedseparately.Theshareholders’generalmeetingswereconvenedandheldbytheboardofdirectorsoftheCompanyandwitnessedbythelawyersonsite.
(II)ControllingShareholdersandtheCompany:TheCompanyisindependentofcontrollingshareholdersintermsofbusiness,assets,personnel,bodyandfinance,etc.,andtheCompany’sboardofdirectors,boardofsupervisorsandotherinternalbodiesoperatedindependently.ThecontrollingshareholdersoftheCompanycanstrictlyregulatetheirownbehavior,neitherinterfereintheCompany’sdecision-makingandbusinessactivitiesdirectlyorindirectlybypassingtheshareholders’generalmeeting,norusedcapitalofthelistedcompanyfornon-operatingpurposes.
(III)DirectorsandtheBoardofDirectors:TheCompanyelecteddirectorsandengagedindependentdirectorsinstrictaccordancewiththeCompaniesLawandtheArticlesofAssociation.TheCompanyhassevendirectors,includingthreeindependentdirectors,whoallaretheexpertsinthefieldsofcorporatemanagementandfinancialaccounting.ThenumberofdirectorsandcompositionoftheboardofdirectorscomplywiththerequirementsofthelawsandregulationsaswellastheArticlesofAssociation.TheCompany’sboardofdirectorshasfourspecialcommittees,includingAuditCommittee,StrategyCommittee,NominationCommitteeandRemunerationandAppraisalCommittee,withreasonablememberstructure,providingscientificandprofessionalopinionsandreferencesforthedecision-makingoftheboardofdirectors.TheboardofdirectorsconvenedandheldthemeetingsoftheboardofdirectorsinstrictwiththeArticlesofAssociationandtheRulesofProcedurefortheBoardofDirectorstoimplementtheresolutionsadoptedbytheshareholders’generalmeeting;alldirectorscanfulfilltheirdutiesdiligently,scrupulouslyattendedthemeetingsoftheboardofdirectorsandtheshareholders’generalmeetings,andsafeguardedthelegitimaterightsandinterestsoftheCompanyandtheshareholders.
(IV)SupervisorsandtheBoardofSupervisors:TheCompany’sboardofsupervisorselectedsupervisorsinstrictaccordance
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
withtheelectionproceduresprovidedintheCompaniesLawandtheArticlesofAssociation.TheCompanyhasthreesupervisors,includingthechairmanoftheboardofsupervisors.ThenumberofsupervisorsandcompositionoftheboardofsupervisorscomplywiththerequirementsofthelawsandregulationsaswellastheArticlesofAssociation.TheboardofsupervisorsconvenedandheldthemeetingsoftheboardofsupervisorsinstrictwiththeArticlesofAssociationandtheRulesofProcedurefortheBoardofSupervisors;allsupervisorsseriouslyfulfilledtheirduties,effectivelymonitoredthelegalityandcomplianceofperformanceofdutiesastheCompany’sfinancepersonnel,directorsandseniormanagementingoodfaithandwithduediligenceandexpressedindependentopinions,andsafeguardedthelegitimaterightsandinterestsoftheCompanyandtheshareholders.
(V)PerformanceAppraisalandIncentiveRestraintMechanism:TofurtherestablishasoundincentivemechanismoftheCompany,strengthentheconceptofsustainabledevelopmentbetweentheCompanyandthemanagementandthecoreemployees,theCompanyimplementedtheequityincentiveplantostrengthenthebenefitsharingandrestrainmechanismbetweenshareholdersandcorebusinesspersonnel,maintainthestabilityofthemanagementteamandkeybusinesspersonnel,ensurethetherealizationoftheCompany’sdevelopmentstrategyandbusinessobjectivesandlong-termstablegrowthoftheCompany.TheappointmentoftheCompany’sseniormanagementisopenandtransparent,whichcomplieswiththeprovisionsofthelawsandregulations.
(VI)Stakeholders:TheCompanyfullyrespectedthelegitimaterightsandinterestsofstakeholdersandrealizedthecoordinationandbalanceofinterestsofthesociety,shareholders,theCompanyandemployeestojointlypromotethesustainableandstabledevelopmentoftheCompany.
(VII)InformationDisclosureandTransparency:TheCompanyperformedinformationdisclosureobligationsinatrue,accurate,timelyandcompletemannerinstrictaccordancewiththeprovisionsoftherelevantlaws,regulationsandtheInformationDisclosureManagementMeasuresoftheCompany,anddesignatedtheSecuritiesTimesandCninfo(www.cninfo.com.cn)todisclosetheCompany’sinformation;theCompanystrictlyprotectedtheconfidentialityofundisclosedinformationandearnestlyregisteredandfiledtheinsiderswhohaveaccesstoinsideinformation,establishedafilingsystemforinsiderswhohaveaccesstoinsideinformation,andtimelysubmittedthesametotheregulatorsforfilingasrequired.Meanwhile,theCompanystrictlyregulatedthereportingoftheinformationoftheCompanytoexternalinformationusers.Whenreceivingspecificvisitors,theCompanyseriouslydidsoinstrictaccordancewiththerelevantrequirements,requiredvisitorstosigntheLetterofCommitment,andtimelyuploadedtherelevantresearchrecordstothe“e-interaction”platformoftheShenzhenStockExchangefordisclosure.Duringthereportingperiod,theCompanydidnotuseinsideinformationtotradeitsstocks.Meanwhile,theCompanysetupthespecialcolumnofinvestorphoneandinvestorrelationshipmanagementanddesignatedapersontoberesponsiblefortimelycommunicationwithinvestors.Furthermore,theCompanykeptcontactandcommunicationwithregulatorsinanactiveandtimelymanner,reportedtheCompany’srelevantmatterssoastoaccuratelygainanunderstandingofregulatoryrequirementsofinformationdisclosureandfurtherimprovetheCompany’stransparencyandqualityofinformationdisclosure.TheCompanydisclosedtheinformationinatrue,accurate,completeandtimelymannerinstrictcompliancewiththerequirementsontherelevantcontentsandformat,andensuredthatallshareholderscanfullyobtaintheinformationoftheCompanythroughvariouschannels.ArethereanysignificantdifferencesbetweentheCompany’sactualgovernancestatusandtheregulatorydocumentsongovernanceoflistedcompaniesissuedbytheCSRC?
□Yes√NoThereisnosignificantdifferencebetweentheCompany’sactualgovernancestatusandtheregulatorydocumentsongovernanceoflistedcompaniesissuedbytheCSRC.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
II.DetailsoftheCompany’sSeparationfromControllingShareholderswithrespecttoBusiness,Personnel,Assets,OrganizationandFinancialAffairsDuringthereportingperiod,theCompanyregulateditsoperationinstrictaccordancewiththeCompaniesLawandtheArticlesofAssociation,andgraduallyimproveditscorporategovernancestructure,wasindependentfromcontrollingshareholdersintermsofbusiness,assets,personnel,bodyandfinancetorealizeindependentbusinessandself-management,andhadindependentresearchanddevelopment,productionandsalessystems.Duringthereportingperiod,theCompany’sproductionandoperationwasstableanditsinternalbodywasperfect,andtheCompanycan,therefore,operateinanindependentandcompliantmanner:
(1)BusinessTheCompanyhadcompletecorporatepropertyrightsandindependentR&D,productionandsalessystems,conductedthebusiness,accountinganddecision-makingindependently,assumedliabilitiesandrisksindependentlyandcarriedoutproductionandoperationactivitiesindependentofshareholdersandotherrelatedparties.
(II)AssetsTheCompanyisacompanylimitedbysharesestablishedthroughoverallchangeaccordingtolaw,andhasindependentandcompleteassets.TheCompanywentthroughtheformalitiesforchangesinrelatedassetsandequityaccordingtolaw.TheCompanyneitherprovidedtheguaranteesforthedebtsofshareholderswithitsassetsorreputation,norlenttheborrowingsandcreditlinesinthenameoftheCompanytoeachshareholder.TheCompanyhascompletecontroloverallassets,andtherewasnoanyappropriationofassetsorcapitalbythecontrollingshareholders,therebyharmingtheinterestsoftheCompany.(III)PersonnelTheCompany’sdirectors,supervisorsandseniormanagementwerelegallyelectedandgeneratedinaccordancewiththeCompaniesLaws,theArticlesofAssociationandotherrelevantlaws,regulationsandrules;theCompany’sseniormanagement(excludingindependentdirectors)allworkedintheCompanyasfull-timeofficersandreceivedremunerationformtheCompany,anddidnotholdanypositionsotherthandirectorandsupervisorintherelatedshareholdersandotherentitieswithsameorsimilarbusiness.TheCompanyhadindependentemployees,managedtheirremunerationandsocialsecurityindependently,andhadacompletemanagementsystemandmechanism.
(IV)BodyTheCompanyestablishedacompletegovernancestructureincludingtheshareholders’generalmeeting,theboardofdirectorsandtheboardofsupervisors,andanindependentandcompleteoperationandmanagementbodythatmeetstheneedsoftheCompany’sowndevelopmentandactualsituation.SuchbodiesexercisedtheirpowersindependentlyinaccordancewiththeArticlesofAssociationandinternalmanagementsystem.Sinceitsestablishment,theCompany’sproduction,operationandofficebodiesoperatedindependentofshareholders.
(V)FinanceTheCompanysetupanindependentfinancialaccountingdepartmentandaninternalauditdepartment,establishedan
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
independentaccountingsystemandacompliantfinancialmanagementsystem,whichindependentlymadefinancialdecisions.Sinceitsinception,theCompanyopenedaccountsinthebankindependently,madetaxdeclarationsandperformedtaxobligationsindependentofshareholdersaccordingtolaw,andsignedcontractswithexternalpartiesindependently.
III.HorizontalCompetition
□Applicable√N/A
IV.DetailsAbouttheAnnualShareholders’GeneralMeetingandExtraordinaryShareholders’GeneralMeetingHeldDuringtheReportingPeriod
1.Detailsabouttheshareholders’generalmeetingduringthereportingperiod
Meeting | Meetingtype | Investorparticipation% | Dateconvened | Disclosuredate | Disclosureindex |
2019AnnualShareholders’GeneralMeeting | AnnualShareholders’GeneralMeeting | 52.64% | May13,2020 | May14,2020 | AnnouncementofResolutionsof2019AnnualShareholders’GeneralMeetingofLuxsharePrecision(AnnouncementNo.:2020-041)disclosedatSecuritiesTimesandCninfo(www.cninfo.com.cn) |
2020FirstExtraordinaryShareholders’GeneralMeeting | AnnualShareholders’GeneralMeeting | 50.88% | July27,2020 | July28,2020 | AnnouncementofResolutionsof2020FirstExtraordinaryShareholders’GeneralMeetingofLuxsharePrecision(AnnouncementNo.:2020-060)disclosedatSecuritiesTimesandCninfo(www.cninfo.com.cn) |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
2.Extraordinaryshareholders’generalmeetingrequestedbythepreferredshareholderwithrestitutionofvotingright
□Applicable√N/A
V.PerformanceofIndependentDirectorsDuringtheReportingPeriod
1.Detailsofindependentdirectors’attendanceatmeetingsofboardofdirectorsandshareholders’generalmeetings
DetailsofIndependentDirectors’AttendanceatMeetingsofBoardofDirectorsandShareholders’GeneralMeetings | |||||||
Independentdirector | Themeetingsoftheboardofdirectorsrequiredtoattendduringthereportingperiod(times) | Attendanceinperson(times) | Attendancebywayoftelecommunication(times) | Entrustedpresence(times) | Absence(times) | Nonattendanceinpersonfortwoconsecutivetimes | Attendanceinshareholders’generalmeeting |
XUHuaibin | 13 | 2 | 11 | 0 | 0 | No | 2 |
LINYifei | 13 | 2 | 11 | 0 | 0 | No | 2 |
ZHANGYing | 13 | 2 | 11 | 0 | 0 | No | 2 |
Explanationsondirectorswhodonotattendin-persontwoboardmeetingsinarow.N/A
2.Detailsonindependentdirectorsobjectingtorelevantevents
Didindependentdirectorsobjecttorelevantevents?
□Yes√NoDuringthereportingperiod,noindependentdirectorsobjectedtorelevanteventsoftheCompany.
3.OtherdetailsabouttheperformanceofindependentdirectorsWasadvicetotheCompanyfromindependentdirectorsadopted?
√Yes□NoExplanationsofadviceofindependentdirectorsfortheCompanybeingadoptedDuringthereportingperiod,theindependentdirectorsoftheCompanyseriouslyandfullyconductedtheirduediligenceandactivelyperformedtheirdutiesbasedonthestandpointofindependentjudgment,inamannerresponsibletotheCompany,allshareholdersandinvestorsandinlightoftheprincipleofseekingtruthfromfacts,andsuccessivelyexpressedindependentopinionsonthefollowing28significantmatters:
1.IndependentOptionsonGrantofStockOptionstoReservedGranteesof2019StockOptionIncentivePlanofLuxsharePrecision
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
IndustryCo.,Ltd.(changeofname);
2.IndependentOpinionson2019InternalControlSelf-EvaluationReportoftheCompany;
3.IndependentOpinionsonRenewalofAppointmentofAccountingFirm;
4.IndependentOpinionsConcerningtheSpecialExplanationsonAppropriationofFundsbytheRelatedPartiesoftheCompanyandProvisionofGuarantees;
5.IndependentOpinionsConcerningtheSpecialReportontheDepositandActualUseoftheFundRaisedbytheCompany;
6.IndependentOpinionsonRelatedPartyTransactionsIncurredbytheCompanyin2019
7.IndependentOpinionson2019ProfitDistributionPlanoftheCompany;
8.IndependentOpinionsontheApplicationbytheCompanyforaComprehensiveCreditLinetotheBank;
9.IndependentOpinionsontheOfferbytheCompanyofGuaranteestoWholly-ownedSubsidiaries;
10.IndependentOpinionsontheConductofForeignExchangeDerivativesTradingBusiness;
11.IndependentOpinionsonthePurchaseofWealthManagementProductswithIdleSelf-ownedFunds;
12.IndependentOpinionsontheApplicationforIssuanceofUltra-short-termFinancingBondsandMedium-termNotes;
13.IndependentOpinionsontheForecastsofRoutineRelatedPartyTransactionsin2020;
14.IndependentOpinionsonChangesinAccountingPolicies;
15.IndependentOpinionsontheApplicationforaComprehensiveCreditLinetotheBank;
16.IndependentOpinionsontheAdjustmenttoExercisePricesandQuantityof2018and2019StockOptionIncentivePlansandtheCancellationofSomeStockOptions;
17.IndependentOpinionsontheAchievementofVestingConditionsfortheFirstVestingPeriodGrantedunder2019StockOptionIncentivePlan;
18.IndependentOpinionsonExtendingtheValidTermoftheResolutionsofShareholders’GeneralMeetinginrespectofPublicIssuanceofConvertibleCorporateBondsandValidTermofAuthorization;
19.IndependentOpinionsonSigningofAcquisitionFrameworkAgreementandRelatedPartyTransactions;
20.IndependentOpinionsConcerningtheSpecialExplanationsonAppropriationofFundsbytheControllingShareholdersandOtherRelatedPartiesoftheCompanyandProvisionofGuaranteesbytheCompany;
21.IndependentOpinionsontheApplicationforaComprehensiveCreditLinetotheBank;
22.IndependentOpinionsontheOfferofGuaranteestoWholly-ownedSubsidiaries;
23.IndependentOpinionsConcerningtheProposalonFurtherClarifyingtheSpecificPlanforPublicIssuanceofConvertibleCorporateBondsoftheCompany;
24.IndependentOpinionsConcerningtheProposalontheCompany’sPublicIssuanceofConvertibleCorporateBondsforListing;
25.IndependentOpinionsonSigningofAcquisitionFrameworkAgreementandRelatedPartyTransactions;
26.IndependentOpinionsConcerningtheProposalontheUseofRaisedFundstoIncreasetheCapitaloftheWholly-ownedSubsidiaryLantoElectronicLimitedandtheProposalontheUseofRaisedFundstoIncreasetheCapitalofLuxshareElectronicTechnology(Kunshan)Co.,Ltd.;
27.IndependentOpinionsontheAdjustmenttoExerciseQuantityof2018StockOptionIncentivePlanandtheCancellationofSomeStockOptions;and
28.IndependentOpinionsontheAchievementofVestingConditionsfortheSecondVestingPeriodGrantedunder2018StockOptionIncentivePlan;
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
TheindependentopinionsgivenbytheindependentdirectorsoftheCompanyfortheabovemattersprovidedanimportantbasisfortheboardofdirectorsoftheCompanytomakecomprehensive,objectiveandfairdecision,whichnotonlysafeguardstheoverallinterestsoftheCompany,butalsoreflectsandsafeguardsthelegitimaterightsandinterestsofsmallandmediumshareholders.VI.PerformanceofSpecialCommitteeAffiliatedtotheBoardofDirectorsDuringtheReportingPeriod
1.PerformanceofAuditCommittee
(1)Duringthereportingperiod,theAuditCommitteeactivelyperformeditsduties,monitoredtheCompany’sinternalauditsystemandimplementationthereof,reviewedthefinancialinformationandprovidedtheguidancefortheCompany’sauditdepartmentinaccordancewiththeprovisionsoftheCompaniesLaw,theCodeofCorporateGovernanceofListedCompaniesandtheWorkRulesforAuditCommitteeoftheBoardofDirectors,supervisedtheauditbytheaccountingform,andplayeditsduerole.UponcarefullycheckingtheCompany’sinternalcontrol,theappropriationoffundsbytheCompany’scontrollingshareholdersandotherrelatedpartiesandthedepositandactualuseoftheCompany’sraisedfunds,etc.,theAuditCommitteebelievesthattheinternalcontrolsystemtheCompanyhasestablishedcomplieswiththerelevantregulationsandcaneffectivelycontrolrelevantrisks,andfurtherbelievesthatthefinancialinformationcompiledbytheCompanywerepreparedinallmaterialrespectsinaccordancewiththerelevantprovisionsofregulators,andrecognizesthattheCompanystrictlyimplementedthedepositsystemofthespecialaccountforraisedfunds,andeffectivelyexecutedtheescrowagreementoftheraisedfunds.
(2)AuditCommittee’sSummaryontheAuditoftheCompanybyBDOChinaShuLunPanCertifiedPublicAccountantsLLPin2020
WhenprovidingtheauditservicefortheCompanyin2020,BDOChinaShuLunPanCertifiedPublicAccountantsLLPfollowedtheindependent,objectiveandfairprofessionalstandards,andwascompetentformakinganobjectiveandfairevaluationontheCompany’sfinancialstatementsandoperatingconditionswithsufficientaudittime,throughreasonableallocationofauditorsandinarigorousandresponsiblemanner,andsuccessfullycompletedtheauditworkentrustedbytheCompany.
(3)ResponsibilitiesoftheAuditCommitteeinAuditof2020AnnualReport
Intheprocessoftheauditof2020FinancialReport,theAuditCommitteedeterminedtheauditschedulethroughnegotiatingwithBDOChinaShuLunPanCertifiedPublicAccountantsLLP,reviewedthefinancialstatementspreliminarilypreparedbytheCompanybeforetheCPAsbegantoconducttheauditandgavewrittenopinionsthereon;whenreviewingtheauditconductedbytheCPAsannually,itsupervisedtheauditprogress,maintainedthecontactandcommunicationswithauditaccountantsandexchangedopinionsontheproblemsidentifiedintheauditsoastoensuretheindependenceandon-timecompletionoftheaudit.Theaccountingfirmcompletedthefinalizedauditor’sreportontimeaccordingtotheoverallauditplanandissuedtherelevantspecialauditreport.
(4)TheAuditCommitteeplayedanactiveroleintheprocessofforeigninvestment.Duringthereportingperiod,theCompanyinvestedomaproject,andtheAuditCommitteeprovidedprofessionalopinionsfortheboardofdirectorstomakedecisionsintheearlystageoftheproject,andplayedaprominentpartinthesmoothprogressoftheprojectandthepreventionofprojectrisks.
2.PerformanceofStrategyCommittee
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
TheStrategyCommitteeactivelyperformeditsdutiesinaccordancewiththeprovisionsoftheCompaniesLaw,theCodeofCorporateGovernanceofListedCompanies,theDetailedWorkingRulesforStrategyCommitteeoftheBoardofDirectorsandotherrelevantregulations.Duringthereportingperiod,theStrategyCommitteeheldtherelevantmeetings,conductedanin-depthanalysisandresearchoftheindustryinwhichtheCompanyoperatesandraisedthereasonableopinionsfortheCompany’splanningondevelopmentstrategyofbusiness,R&Dandnewproducts,etc.andimplementationthereof,achievinggoodsresults.
3.PerformanceofRemunerationandAppraisalCommittee
Duringthereportingperiod,theRemunerationandAppraisalCommitteeactivelyperformeditsdutiesinaccordancewiththeprovisionsoftheCompaniesLaw,theCodeofCorporateGovernanceofListedCompanies,theArticlesofAssociation,theDetailedWorkingRulesforRemunerationandAppraisalCommitteeoftheBoardofDirectorsandotherrelevantregulations.Uponreviewingtheremunerationofdirectors,supervisorsandseniormanagementoftheCompany,theRemunerationandAppraisalCommitteebelievesthattheCompanyisgraduallyestablishingfairandeffectiveperformanceevaluationstandardsandincentiverestraintmechanismsforseniormanagement,andimplementstheremunerationsystemthatcombinesbasicmonthlysalarywiththeyear-endperformanceappraisalresultsforseniormanagement.Basedontheunderstandingandplanabove,theCompanymadeproperadjustmentstobasicmonthlysalaryofsomedirectorsandseniorofficers,reflectingandrealizingtheeffectofmotivationandjustice.Theremunerationofdirectors,supervisorsandseniormanagementoftheCompanywastrueduringthereportingperiod,whichcomplieswiththeperformanceappraisalindicatorsoftheCompany.
4.PerformanceofNominationCommittee
Duringthereportingperiod,theNominationCommitteeperformeditsdutiesinaccordancewiththeDetailedWorkingRulesforNominationCommitteeoftheBoardofDirectors,continuouslyreviewedthequalificationsofpersonnelandissuedtheauditopinionsandsuggestions.
VII.DetailsontheWorkoftheBoardofSupervisors
WherethererisksintheCompanyaccordingtothesupervisoroftheboardofsupervisorsduringthereportingperiod?
□Yes√NoTheboardofsupervisorsraisednoobjectiontomattersundersupervisionduringthereportingperiod.
VIII.AssessmentandIncentiveMechanismsforSeniorManagement
Duringthereportingperiod,theCompanyimplementedtheperformanceassessmentforitsseniormanagement,andpaidthemtheannualincomeunderthe“monthlysalary+year-endbonus”model.TheCompanyassessedtheseniormanagementattheendoftheyearbasedonthebusinessconditionsoftheCompanyandworkperformanceofindividuals,anddeterminedtheirannualincomedependingontheassessmentresults.TheCompanyformulatedasystematicandscientificassessmentandmanagementmethodtoprovideanevaluationbasisforpaymentofremunerationofdirectors,supervisorsandseniormanagement.TheRemunerationandAppraisalManagementCommitteewasresponsiblefororganizingandimplementingtheperformanceappraisal.Totheextentauthorizedbytheboardofdirectors,theRemunerationandAppraisalManagementCommitteemadetheevaluationinthelightofprinciplesoffairness,impartialityandopennessandbasedontheperformanceindicatorssetbytheCompanyandtheassessmentindicatorsorworkperformanceestablishedineachstage,andensuredthattheperformanceappraisalandevaluationresultsfullyreflectthetrueperformanceandabilityofemployeesandguaranteedthetransparencyoftheappraisal.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
IX.EvaluationReportofInternalControls
1.DetailsonmaterialdeficienciesfoundintheCompany’sinternalcontrolsduringthereportingperiod
□Yes√No
2.Self-appraisalreportoninternalcontrols
DisclosuredateoftheReportonInternalControls | April21,2021 | |
DisclosureindexoftheReportonInternalControls | LuxsharePrecisionIndustryCo.,Ltd.designatedtheinformationdisclosurewebsiteCninfo(www.cninfo.com.cn)todisclosethe2020AuthenticationReportonInternalControlsofLuxsharePrecisionIndustryCo.,Ltd.. | |
ProportionoftotalassetsofentitiesincludedinevaluationscopetothetotalassetsintheCompany’sconsolidatedfinancialstatements | 70.91% | |
ProportionofoperatingrevenueofentitiesincludedinevaluationscopetotheoperatingrevenueintheCompany’sconsolidatedfinancialstatements | 81.85% | |
DeficiencyStandards | ||
Category | FinancialReport | Non-financialReport |
Qualitativecriteria | I.Signsthatinternalcontrolsofthefinancialreporthavematerialdeficienciesinclude:A.fraudonthepartofdirectors,supervisorsandseniormanagement;B.failureofmaterialdeficienciesininternalcontrolsthathavebeendiscoveredandreportedtothemanagementtobecorrectedafterareasonableperiodoftime;C.ineffectiveinternalenvironment;D.identificationbytheexternalauditorofamaterialmisstatementoffinancialreportinthecurrentperiodincircumstancesthatindicatethatthemisstatementwouldnothavebeendetectedbytheCompany’sinternalcontrol;E.materialviolationsoflawsandregulationsaremorematerial;F.exceptfor | I.Signsthatinternalcontrolsofthenonfinancialreporthavematerialdeficienciesinclude:A.seriousviolationsofimportantnationallawsandregulations;B.seriouslossofmanagementandtechnicalpersonnelinkeypositions;C.lackofsystemcontrolorfailureofsystemcontrolforimportantbusinessinvolvingtheproductionandoperationoftheCompany;D.failureoftheinternalcontrolsofinformationdisclosure,causingtheCompanytobepubliclycondemned;E.failureoftheresultsofinternalcontrolappraisal,especiallymaterialorsignificantdeficiencies,toberectified.II.Signsthat |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
policy-relatedlosses,theCompanyhassufferedlossesforconsecutiveyearsanditsgo-concerningabilityischallenged;G.ineffectiveoversightofinternalcontrolsbytheCompany’smanagementandrelevantfunctionaldepartments.II.Signsthatinternalcontrolsofthefinancialreporthavesignificantdeficienciesinclude:A.failuretofollowgenerallyacceptedaccountingstandardstoselectandapplyaccountingpolicies;B.failuretoestablishanti-fraudproceduresandcontrolmeasures;C.lackofinstitutionalcontrolorfailureofthesystemforimportantbusiness;D.lackofinternalcontrolbuilding,andmanagementinsubsidiariesscattered;E.resignationbyorfrequentchangesofseniorofficers(especiallythoseinchargeofinternalcontrolbody,financeandhumanresources),orseriousemployeeturnover.III.Signsthatinternalcontrolsofthefinancialreporthavegeneraldeficienciesinclude:Controldeficienciesotherthanmaterialandsignificantdeficiencies. | internalcontrolsofthenonfinancialreporthavesignificantdeficienciesinclude:A.deficienciesintheimportantbusinessmechanismorsystem,andincompleteinternalcontrolmechanism;B.informationdisclosurenotreviewedandcontentsuntrue.III.Signsthatinternalcontrolsofthefinancialreporthavegeneraldeficienciesinclude:Controldeficienciesotherthanmaterialandsignificantdeficiencies. | |
Qualitativecriteria | I.Materialdeficiency:(1)Potentialmisstatementofoperatingrevenue:0.5%oftotaloperatingrevenue≤misstatement;(2)potentialmisstatementoftotalprofits:5%oftotalprofits≤misstatement;(3)potentialmisstatementoftotalassets:0.5%oftotalassets≤misstatement;(4)potentialmisstatementofowners’equity:0.5%oftotalowners’equity≤misstatement;II.Significantdeficiency:(1)Potentialmisstatementofoperatingrevenue:0.2%oftotaloperatingrevenue≤misstatement<0.5%oftotaloperatingrevenue;(2)potentialmisstatementoftotalprofits:2%oftotalprofits≤misstatement<5%oftotalprofits;(3)potentialmisstatementoftotalassets:0.2%oftotalassets≤misstatement<0.5%oftotalassets;(4)potentialmisstatementof | I.Materialdeficiency:DirectlossofpropertyamountstonotlessthanRMB12million,causingarelativelylargenativeimpactontheCompany;II.Significantdeficiency:DirectlossofpropertyamountstoRMB3million-12million,subjecttothepenaltyimposedbythenationalgovernmentdepartmentbutnotcausinganativeimpactontheCompany;III.Generaldeficiency:DirectlossofpropertyamountstonotmorethanRMB3million,subjecttothepenaltyimposedbythegovernmentdepartmentsattheprovinciallevelorbelowbutnotcausinganativeimpactontheCompany. |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
owners’equity:0.2%oftotalowners’equity≤misstatement<0.5%oftotalowners’equity;III.Generaldeficiency:(1)Potentialmisstatementofoperatingrevenue:misstatement<0.2%oftotaloperatingrevenue;(2)potentialmisstatementoftotalprofits:misstatement<2%oftotalprofits;(3)potentialmisstatementoftotalassets:misstatement<0.2%oftotalassets;(4)potentialmisstatementofowners’equity:misstatement<0.2%oftotalowners’equity. | ||
Numberofmaterialdeficienciesinthefinancialreport | 0 | |
Numberofmaterialdeficienciesinthenonfinancialreport | 0 | |
Numberofsignificantdeficienciesinthefinancialreport | 0 | |
Numberofsignificantdeficienciesinthenonfinancialreport | 0 |
X.AuditReportorAuthenticationReportonInternalControls
AuthenticationReportonInternalControls
AuditOpinionintheAuditReportonInternalControls | |
TheCompanymaintainedeffectiveinternalcontrolsrelatedtofinancialstatementsinallmaterialrespectsasatDecember31,2021inaccordancewiththeBasicInternalControlNormsforEnterprisespromulgatedbytheMinistryofFinance; | |
ParticularsabouttheDisclosureofAuthenticationReportonInternalControls | Disclosure |
DisclosuredateoftheAuthenticationReportonInternalControls | April21,2021 |
DisclosureindexoftheAuthenticationReportonInternalControls | TheCompanydesignatedtheinformationdisclosurewebsiteCninfo(www.cninfo.com.cn)todisclosethe2020AuthenticationReportonInternalControlsofLuxsharePrecisionIndustryCo.,Ltd.. |
TypeofAuthenticationOpinion | UnqualifiedOpinion |
Isthereamaterialdeficiencyinthenonfinancialreport? | No |
DidtheaccountingfirmissueanAuthenticationReportonInternalControlswithanon-standardopinion?
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
□Yes√NoIstheAuthenticationReportonInternalControlsfromtheaccountingformconsistentwiththeSelf-assessmentReportfromtheboardofdirectors?
√Yes□No
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
SectionXICorporateBonds
Wheretherebondspubliclyissuedandlistedonanexchange,eitheratornotatmaturity,andarenotfullypaidontheapprovalreportdateoftheannualreport?No
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
SectionXIIFinancialReport
I.Auditor’sReport
Auditopinion | StandardUnqualifiedOpinion |
Signingdateofauditreport | April20,2021 |
Auditor | BDOChinaShuLunPanCertifiedPublicAccountantsLLP |
Auditorreportdocumentnumber | XinKuaiShiBaoZi[2021]No.ZB10516 |
Nameofcertifiedpublicaccountants | LIJingandWEIGang |
Auditor’sReport
I.Auditopinion
WehaveauditedthefinancialstatementsofLuxsharePrecisionIndustryCo.,Ltd.(“LuxsharePrecision”),whichcomprisetheconsolidatedandparentcompany’sbalancesheetsasatDecember31,2020,andtheconsolidatedandparentcompany’sincomestatements,theconsolidatedandparentcompany’sstatementsofcashflowandtheconsolidatedandparentcompany'sstatementsofchangesinowners’equityfortheyearthenended,andthenotestothefinancialstatements.
Inouropinion,theaccompanyingfinancialstatementsarepreparedinallmaterialrespectsinaccordancewiththeAccountingStandardsforBusinessEnterprisesandfairlypresenttheconsolidatedandparentcompany’sfinancialpositionasofDecember31,2020,andtheconsolidatedandparentcompany’soperatingresultsandcashflowsfortheyearthenended.
II.BasisforOpinion
WeconductedourauditinaccordancewiththeAuditingStandardsforCertifiedPublicAccountantsofChina.Ourresponsibilitiesunderthosestandardsarefurtherdescribedinthe“Auditor’sResponsibilitiesfortheAuditoftheFinancialStatements”sectionofourreport.WeareindependentofLuxsharePrecisionwiththeCodeofEthicsforChineseCertifiedPublicAccountants,andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeCode.Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforouropinion.
III.CriticalAuditMatters
Criticalauditmattersarethosemattersthat,inourprofessionaljudgment,areofmostsignificanceinourauditofthefinancialstatementsforthecurrentperiod.Thesematterswereaddressedinthecontextofourauditofthefinancialstatementsasawhole,andinformingouropinionthereon,andwedonotexpressaseparateopiniononthesematters.Wedeterminethatthefollowingmattersarecriticalauditmattersthatneedtobecommunicatedintheauditreport.
CriticalAuditMatters | HowWeAddressedtheMatterinOurAudit |
(I)Revenuerecognition |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Fordetailsoftheaccountingpolicyforandanalysisonrevenuerecognition,pleaseseetheaccountingpoliciesdescribedintheItem(XXVI)undertheNote“III.SignificantAccountingPoliciesandAccountingEstimates”andtheItem(XXXXI)underthe“V.NotestoConsolidatedFinancialStatements”tothefinancialstatements.In2020,LuxsharePrecision’soperatingincomewasRMB92,501,259,200.00.LuxsharePrecisionhasalargenumberofcustomersathomeandabroad.Underdifferentdeliverymethods,theCompanyrecognizesrevenueuponthetransferofcontrolofarelatedproducttoacustomer.Ifacustomerisalsothesupplierofsomerawmaterials,theCompanyrecognizesthepurchaseofrawmaterialsandsalesofproductsrespectivelybasedonthetransferofinventoryrisksandrewards,productliability,creditriskbearersandbusinessnature,thatis,thesalesrevenueisrecognizedbasedonthegrossamount.TherevenueisoneoftheCompany’skeyperformanceindicatorsandthemainsourceoftheCompany’sprofits,soweidentifytherevenuefromproductsalesasthecriticalauditmatterbasedontheimportanceoftheaccountingpolicyforrevenuerecognitionandtheamountinvolved. | 1.Understand,evaluateandtestthedesignofthekeyinternalcontrolsofthemanagementrelatedtorevenuerecognitionandtheoperationaleffectivenessofthosecontrols;2.Sampletheproductsalesrevenuetomaketestthereofaccordingtodifferentregionsandcustomers;checksupportingdocumentsrelatedtorevenuerecognition;3.Implementtheanalyticalproceduresonincomeandgrossprofitanddeterminewhetherthereareabnormalfluctuationsintheamountofrevenueforthecurrentperiod;4.UnderthemodesofcooperationbetweentheCompanyandcustomersandsuppliers,andevaluatetheproductliabilityshareandthetransferofcontrol;5.Evaluatetheaccuracyandcompletenessofrevenueinconjunctionwiththeconfirmationproceduresforreceivables&payablesandinventories;and6.Analyzethepost-periodrecoveryofaccountsreceivable. |
(II)Provisionfordeclineinvalueofinventories | |
PleaseseetheaccountingpoliciesdescribedintheItem(XXI)undertheNote“III.SignificantAccountingPoliciesandAccountingEstimates”andtheItem(VII)undertheNote“V.NotestoConsolidatedFinancialStatements”tothefinancialstatements.AsatDecember31,2020,LuxsharePrecision’sinventoriesandprovisionfordeclineinvalueofinventoriespresentedinitsconsolidatedfinancialstatementswereRMB13,340,555,000.00andRMB129,545,600.00respectively.InventoriesoftheCompanyarestatedatthelowerofcostornetrealisablevalue.Forfinishedproducts,theirnetrealizablevalueisdeterminedattheestimatedsellingpriceoftheseinventorieslesstheestimatedcostsnecessarytomakethesaleandrelevanttaxes;fortheinventoriesthatneedtobeprocessed,intheordinaryproductionandoperationprocess,theirnetrealisablevalueisdeterminedattheestimatedsellingpriceoffinishedproductslesstheestimatedcostsofcompletionandtheestimatedcosts | 1.Understand,evaluateandtestthedesignofthekeyinternalcontrolsofthemanagementrelatedtotheprovisionfordeclineinvalueofinventoriesandtheoperationaleffectivenessofthosecontrols;2.ObtaintheCompany’scalculationsheetoftheprovisionfordeclineinvalueofinventories,reviewthenetrealisablevalueofinventoriesandtheprovisionfordeclineinvalueofinventories,andevaluatewhetherthejudgmentmadebythemanagementindeterminingthenetrealizablevalueofinventoriesisreasonable;3.Checkthequantityandconditionsofinventories,focusoninspectingthelong-terminventories,andanalyzetheadequacyoftheprovisionfordeclineinvalueofinventoriesifanyindicationexiststhatsuchinventoriesmaybeimpaired,inconjunctionwithroll-forwardprocedures;and4.Checkthecurrentchangesoftheprovisionfordeclineinvalueofinventoriesmadeinpreviousyearsandanalyzetherationalityofthechangesinthe |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
necessarytomakethesaleandrelevanttaxes.Thedeterminationofthenetrealisablevalueofinventoriesinvolvesthemanagement’suseofsignificantaccountingestimatesandjudgments,andtheprovisionfordeclineinvalueofinventoriesisofsignificancetotheconsolidatedfinancialstatements,soweidentifytheprovisionfordeclineinvalueofinventoriesasthecriticalauditmatter. | provisionfordeclineinvalueofinventories. |
IV.OtherInformation
ThemanagementofLuxsharePrecision(“management”)isresponsibleforotherinformation.Otherinformationcomprisestheinformationincludedinthe2020AnnualReportofLuxsharePrecision,butdoesnotincludethefinancialstatementsandourauditor'sreportthereon.
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationandwedonotexpressanyformofassuranceconclusionthereon.
Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadotherinformationand,indoingso,considerwhetherotherinformationismateriallyinconsistentwiththefinancialstatementsorourknowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.
If,basedontheworkwehaveperformed,weconcludethatthereisanymaterialmisstatementofotherinformation,wearerequiredtoreportthatfact.Wehavenothingtoreportinthisregard.V.ResponsibilitiesoftheManagementandThoseChargedwithGovernancefortheFinancialStatements
ThemanagementisresponsibleforthepreparationandfairpresentationofthefinancialstatementsinaccordancewiththeAccountingStandardsforBusinessEnterprises,anddesigning,implementingandmaintaininginternalcontrolthatisnecessarytoenablethefinancialstatementsthatarefreefrommaterialmisstatement,whetherduetofraudorerror.
Inpreparingthefinancialstatements,themanagementisresponsibleforassessingLuxsharePrecision’sabilitytocontinueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasisofaccountingunlessthemanagementeitherintendstoliquidateLuxsharePrecisionortoceaseoperations,orhavenorealisticalternativebuttodoso.
ThosechargedwithgovernanceofLuxsharePrecision(hereinafterreferredtoas“thosechargedwithgovernance”)areresponsibleforoverseeingLuxsharePrecision’sfinancialreportingprocess.
VI.Auditor’sResponsibilitiesfortheAuditoftheFinancialStatements
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditor’sreportthatincludesouropinionsolelytoyou.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordancewithChinaStandardsonAuditingwillalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencethe
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
economicdecisionsofuserstakenonthebasisofthesefinancialstatements.
AspartofanauditinaccordancewithChinaStandardsonAuditing,weexerciseprofessionaljudgmentandmaintainprofessionalskepticismthroughouttheaudit.Wealso:
(1)Identifyandassesstherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror,designandperformauditproceduresresponsivetothoserisks,andobtainauditevidencethatissufficientandappropriatetoprovideabasisforouropinion.Theriskofnotdetectingamaterialmisstatementresultingfromfraudishigherthanthatresultingfromerror,asfraudmayinvolvecollusion,forgery,intentionalomissions,misrepresentations,ortheoverrideofinternalcontrol;
(2)Obtainanunderstandingofinternalcontrolrelevanttotheauditinordertodesignauditproceduresthatareappropriateinthecircumstances,butnotforthepurposetoexpressopinionsontheeffectivenessofinternalcontrol.
(3)Evaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesandrelateddisclosuresmadebythemanagement.
(4)Concludeontheappropriatenessofthemanagement’suseofthegoingconcernbasisofaccounting,andmeanwhile,basedontheauditevidenceobtained,onwhetheramaterialuncertaintyexistsrelatedtoeventsorconditionsthatmaycastsignificantdoubtonLuxsharePrecision’sabilitytocontinueasagoingconcern.Ifweconcludethatamaterialuncertaintyexists,wearerequiredtodrawattentioninourauditor’sreporttotherelateddisclosuresinthefinancialstatementsor,ifsuchdisclosuresareinadequate,tomodifyouropinion.Ourconclusionsarebasedontheauditevidenceobtaineduptothedateofourauditor’sreport.However,futureeventsorconditionsmaycauseLuxsharePrecisiontoceasetocontinueasagoingconcern.
(5)Evaluatetheoverallpresentation(includingdisclosure),structureandcontentofthefinancialstatementsandwhetherthefinancialstatementsrepresenttheunderlyingtransactionsandeventsinamannerthatachievesfairpresentation;
(6)ObtainsufficientandappropriateauditevidenceregardingthefinancialinformationoftheentitiesorbusinessactivitieswithinLuxsharePrecisiontoexpressanopiniononthefinancialstatements.Weareresponsibleforthedirection,supervisionandperformanceofthegroupaudit.Weremainsolelyresponsibleforourauditopinion.
Wecommunicatewiththosechargedwithgovernanceregarding,amongothermatters,theplannedscopeandtimingoftheauditandsignificantauditfindings,includinganysignificantdeficienciesininternalcontrolthatweidentifyduringouraudit.
Wealsoprovidethosechargedwithgovernancewithastatementthatwehavecompliedwithrelevantethicalrequirementsregardingindependence,andcommunicatewiththemallrelationshipsandothermattersthatmayreasonablybethoughttobearonourindependence,andwhereapplicable,relatedsafeguards.
Fromthematterscommunicatedwiththosechargedwithgovernance,wedeterminethosemattersthatwereofmostsignificanceintheauditofthefinancialstatementsforthecurrentperiodandarethereforecriticalauditmatters.Wedescribethesemattersinourauditreportunlesslawsorregulationsprecludepublicdisclosureofthematterorwhen,in
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
extremelyrarecircumstances,wedeterminethatamattershouldnotbecommunicatedinourreportbecausetheadverseconsequencesofdoingsowouldreasonablybeexpectedtooutweighthepublicinterestbenefitsofsuchcommunication.II.FinancialStatements
StatementsinnotestothefinancialstatementsaredominatedinRMB.
1.Consolidatedbalancesheet
Preparedby:LuxsharePrecisionIndustryCo.,Ltd.
December31,2020
In:RMB
Item | December31,2020 | December31,2019 |
CurrentAssets: | ||
Cashandbankbalances | 10,528,245,765.93 | 6,180,466,259.01 |
Balanceswithclearingagencies | ||
Placementswithbanksandotherfinancialinstitutions | ||
Held-for-tradingfinancialassets | 3,160,064,470.41 | 1,524,366,132.75 |
Derivativefinancialassets | ||
Notesreceivable | 261,208,601.50 | 66,873,926.97 |
Accountsreceivable | 13,839,155,340.47 | 13,243,625,572.22 |
Receivablefinancing | ||
Prepayments | 183,886,937.70 | 212,018,611.91 |
Premiumsreceivable | ||
Amountsreceivableunderreinsurancecontracts | ||
Reinsurer’sshareofinsurancecontractreserves | ||
Otherreceivables | 407,990,780.79 | 338,237,923.96 |
Including:Interestreceivable | ||
Dividendsreceivable | ||
Financialassetspurchasedunderresaleagreements | ||
Inventories | 13,211,009,381.15 | 7,700,857,888.16 |
Contractassets | ||
Held-for-saleassets | ||
Non-currentassetsduewithinone |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
year | ||
Othercurrentassets | 1,804,485,645.49 | 1,484,451,151.73 |
Totalcurrentassets | 43,396,046,923.44 | 30,750,897,466.71 |
Non-currentAssets: | ||
Loansandadvancestocustomers | ||
Debtinvestments | ||
Otherdebtinvestments | ||
Long-termreceivables | ||
Long-termequityinvestments | 1,208,540,333.29 | 303,050,580.10 |
Otherinvestmentsinequityinstruments | 138,074,571.56 | 193,950,220.77 |
Othernon-currentfinancialassets | ||
Investmentproperties | 47,592,110.24 | 52,656,477.74 |
Fixedassets | 19,761,012,854.95 | 13,707,298,535.36 |
Constructioninprogress | 1,596,064,894.58 | 865,549,438.56 |
Bearerbiologicalassets | ||
Oilandgasassets | ||
Useofrightassets | ||
Intangibleassets | 1,265,161,209.65 | 1,047,725,845.53 |
Developmentexpenditure | ||
Goodwill | 533,139,532.25 | 532,697,936.32 |
Long-termprepaidexpenses | 488,087,044.97 | 352,042,451.40 |
Deferredincometaxassets | 355,834,434.21 | 139,475,190.37 |
Othernon-currentAssets | 1,223,199,642.61 | 1,432,566,528.37 |
Totalnon-currentassets | 26,616,706,628.31 | 18,627,013,204.52 |
Totalassets | 70,012,753,551.75 | 49,377,910,671.23 |
Currentliabilities: | ||
Short-termborrowings | 7,577,068,798.49 | 4,166,302,223.17 |
Loansfromthecentralbank | ||
Takingfrombanksandotherfinancialinstitutions | ||
Held-for-tradingfinancialliabilities | 1,001,553.00 | |
Derivativefinancialliabilities | ||
Notespayable | 128,572,111.54 | 206,496,660.20 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Accountspayable | 23,051,557,603.83 | 17,268,223,180.16 |
Receiptsinadvance | 101,609,379.21 | |
Contractliabilities | 152,512,971.36 | |
Financialassetssoldunderrepurchaseagreements | ||
Customerdepositsanddepositsfrombanksandotherfinancialinstitutions | ||
Fundsfromsecuritiestradingagency | ||
Fundsfromunderwritingsecuritiesagency | ||
Employeebenefitspayable | 1,397,632,139.23 | 1,423,417,352.66 |
Taxespayable | 237,421,491.63 | 327,633,322.68 |
Otherpayables | 146,162,097.14 | 352,390,271.77 |
Including:Interestpayable | 6,097,484.73 | |
Dividendspayable | ||
Feesandcommissionspayable | ||
Amountspayableunderreinsurancecontracts | ||
Held-for-saleliabilities | ||
Non-currentliabilitiesduewithinoneyears | 278,527,714.63 | 366,537,115.41 |
Othercurrentliabilities | 623,257,555.89 | 646,115,152.49 |
Totalcurrentliabilities | 33,592,712,483.74 | 24,859,726,210.75 |
Non-currentliabilities: | ||
Insurancecontractreserves | ||
Long-termborrowings | 1,495,199,238.41 | 1,562,908,824.30 |
Bondspayable | 2,475,423,249.98 | |
Including:Preferredshares | ||
Perpetualbonds | ||
Leaseliabilities | ||
Long-termpayables | ||
Long-termemployeebenefitspayable | ||
Provisions | 1,360,598.63 | 1,317,263.45 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Deferredincome | 425,345,982.64 | 256,059,554.91 |
Deferredincometaxliabilities | 966,092,212.95 | 598,184,393.00 |
Othernon-currentliabilities | 150,019,923.33 | 350,011,130.10 |
TotalNon-currentLiabilities | 5,513,441,205.94 | 2,768,481,165.76 |
Totalliabilities | 39,106,153,689.68 | 27,628,207,376.51 |
Owner’sequity: | ||
Sharecapital | 6,999,768,186.00 | 5,349,001,738.00 |
Otherequityinstruments | 527,449,226.56 | |
Including:Preferredshares | ||
Perpetualbonds | ||
Capitalreserve | 1,890,099,569.60 | 2,654,692,874.21 |
Less:Treasuryshares | ||
Othercomprehensiveincome | -44,717,803.06 | 165,602,152.74 |
Specialreserve | ||
Surplusreserve | 733,067,797.73 | 362,335,031.18 |
Generalriskreserve | ||
Unappropriatedprofit | 17,996,149,257.73 | 11,764,987,172.39 |
Totalowners’equityattributabletoequityholdersoftheparentcompany | 28,101,816,234.56 | 20,296,618,968.52 |
Minorityinterests | 2,804,783,627.51 | 1,453,084,326.20 |
Totalowners’equity | 30,906,599,862.07 | 21,749,703,294.72 |
Totalliabilitiesandowners’equity | 70,012,753,551.75 | 49,377,910,671.23 |
Legalrepresentative:WANGLaichunChieffinancialofficer:WUTiansongHeadofaccountingdepartment:XIAONa
2.Balancesheetoftheparentcompany
In:RMB
Item | December31,2020 | December31,2019 |
CurrentAssets: | ||
Cashandbankbalances | 1,890,655,455.45 | 1,261,246,519.90 |
Held-for-tradingfinancialassets | 2,238,600,282.87 | 564,979,683.89 |
Derivativefinancialassets | ||
Notesreceivable | 147,912,632.85 | 7,452,736.02 |
Accountsreceivable | 6,923,152,599.31 | 1,561,792,817.49 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Receivablefinancing | ||
Prepayments | 295,993,095.73 | 41,033,974.02 |
Otherreceivables | 554,707,729.13 | 524,425,779.85 |
Including:Interestreceivable | ||
Dividendsreceivable | 11,543,626.19 | |
Inventories | 151,961,355.37 | 254,966,939.98 |
Contractassets | ||
Held-for-saleassets | ||
Non-currentassetsduewithinoneyear | ||
Othercurrentassets | 143,001,991.83 | 59,577,562.10 |
Totalcurrentassets | 12,345,985,142.54 | 4,275,476,013.25 |
Non-currentAssets: | ||
Debtinvestments | ||
Otherdebtinvestments | ||
Long-termreceivables | ||
Long-termequityinvestments | 13,603,581,726.93 | 10,169,630,940.26 |
Otherinvestmentsinequityinstruments | 704,349,663.13 | 190,275,176.76 |
Othernon-currentfinancialassets | ||
Investmentproperties | ||
Fixedassets | 142,429,101.80 | 96,298,416.94 |
Constructioninprogress | 5,938,197.42 | 2,779,186.32 |
Bearerbiologicalassets | ||
Oilandgasassets | ||
Useofrightassets | ||
Intangibleassets | 52,410,346.09 | 24,590,128.29 |
Developmentexpenditure | ||
Goodwill | 53,174,339.31 | 53,174,339.31 |
Long-termprepaidexpenses | 727,403.48 | 1,818,508.31 |
Deferredincometaxassets | 7,715,791.60 | 13,804,913.52 |
Othernon-currentAssets | 164,700.00 | 6,162,851.80 |
Totalnon-currentassets | 14,570,491,269.76 | 10,558,534,461.51 |
Totalassets | 26,916,476,412.30 | 14,834,010,474.76 |
Currentliabilities: |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Short-termborrowings | 1,038,298,216.05 | 82,450,000.00 |
Held-for-tradingfinancialliabilities | ||
Derivativefinancialliabilities | ||
Notespayable | 918,494,979.38 | 1,210,846,167.41 |
Accountspayable | 6,005,518,269.37 | 1,190,614,614.64 |
Receiptsinadvance | 19,692,593.36 | |
Contractliabilities | 28,872,712.52 | |
Employeebenefitspayable | 10,262,304.62 | 46,817,340.23 |
Taxespayable | 21,244,602.02 | 15,259,960.69 |
Otherpayables | 1,565,708.61 | 509,173,095.52 |
Including:Interestpayable | ||
Dividendspayable | ||
Held-for-saleliabilities | ||
Non-currentliabilitiesduewithinoneyears | 20,029,777.78 | |
Othercurrentliabilities | 512,468,730.41 | 500,000,000.00 |
Totalcurrentliabilities | 8,556,755,300.76 | 3,574,853,771.85 |
Non-currentliabilities: | ||
Long-termborrowings | 180,268,000.00 | |
Bondspayable | 2,475,423,249.98 | |
Including:Preferredshares | ||
Perpetualbonds | ||
Leaseliabilities | ||
Long-termpayables | ||
Long-termemployeebenefitspayable | ||
Provisions | ||
Deferredincome | 8,397,770.66 | 10,941,542.77 |
Deferredtaxliabilities | 19,714,831.53 | 22,367,576.60 |
Othernon-currentliabilities | ||
TotalNon-currentLiabilities | 2,683,803,852.17 | 33,309,119.37 |
Totalliabilities | 11,240,559,152.93 | 3,608,162,891.22 |
Owner’sequity: | ||
Sharecapital | 6,999,768,186.00 | 5,349,001,738.00 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Otherequityinstruments | 527,449,226.56 | |
Including:Preferredshares | ||
Perpetualbonds | ||
Capitalreserve | 2,303,197,437.38 | 3,070,397,725.31 |
Less:Treasuryshares | ||
Othercomprehensiveincome | 80,735,015.01 | 125,608,900.24 |
Specialreserve | ||
Surplusreserve | 733,067,797.73 | 362,335,031.18 |
Unappropriatedprofit | 5,031,699,596.69 | 2,318,504,188.81 |
Totalowners’equity | 15,675,917,259.37 | 11,225,847,583.54 |
Totalliabilitiesandowners’Equity | 26,916,476,412.30 | 14,834,010,474.76 |
3.Consolidatedincomestatement
In:RMB
Item | 2020 | 2019 |
I.Totaloperatingincome | 92,501,259,211.54 | 62,516,314,588.42 |
Including:Operatingincome | 92,501,259,211.54 | 62,516,314,588.42 |
Interestincome | ||
Premiumsearned | ||
Feeandcommissionincome | ||
II.Totaloperatingcosts | 85,611,417,151.82 | 57,100,176,904.83 |
Including:Operatingcosts | 75,770,007,049.58 | 50,067,829,953.96 |
Interestexpenses | ||
Feeandcommissionexpenses | ||
Surrenders | ||
Claimsandpolicyholderbenefits(netofmountsrecoverablefromreinsurers) | ||
Changesininsurancecontractreserves(netofreinsurers’share) | ||
Insurancepolicyholderdividends | ||
Expensesforreinsuranceaccepted |
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Taxesandlevies | 250,775,738.81 | 303,192,959.52 |
Sellingexpenses | 477,047,875.58 | 498,274,838.05 |
Generalexpenses | 2,463,953,208.63 | 1,524,835,061.38 |
R&Dexpenses | 5,744,805,136.33 | 4,375,970,646.47 |
Financialexpenses | 904,828,142.89 | 330,073,445.45 |
Including:Interestexpenses | 394,589,818.16 | 364,595,633.11 |
Interestincome | 144,116,091.77 | 100,065,571.29 |
Add:Otherincome | 450,748,795.89 | 232,311,428.35 |
Investmentincome(Lossisindicatedby“-”) | 648,357,066.36 | 172,816,640.61 |
Including:Incomefrominvestmentsinassociatesandjointventures | 24,799,841.42 | -36,548,318.18 |
Incomefromderecognitionoffinancialassetsmeasuredatamortizedcost | ||
Foreignexchangegains(Lossisindicatedby“-”) | ||
Netexposurehedgingincome(Lossisindicatedby“-”) | ||
Incomefromchangesinfairvalue(Lossisindicatedby“-”) | 329,044,852.43 | 801,205.01 |
Impairmentlossesofcredit(Lossisindicatedby“-”) | -8,590,000.67 | -6,452,972.96 |
Impairmentlossesofassets(Lossisindicatedby“-”) | -139,288,911.05 | -80,643,093.84 |
Incomefromdisposalofassets(Lossisindicatedby“-”) | -2,309,694.02 | 9,716,496.38 |
III.Operatingprofit(Lossisindicatedby“-”) | 8,167,804,168.66 | 5,744,687,387.14 |
Add:Non-operatingincome | 21,932,288.24 | 18,115,772.58 |
Less:Non-operatingexpenses | 53,956,792.78 | 127,624,357.87 |
IV.Totalprofit(Totallossesareindicatedby“-”) | 8,135,779,664.12 | 5,635,178,801.85 |
Less:Incometaxexpenses | 644,764,928.70 | 707,753,874.65 |
V.Netprofit(Netlossisindicatedby“-”) | 7,491,014,735.42 | 4,927,424,927.20 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
(I)Categorizedbythenatureofcontinuingoperation | ||
1.Netprofitfromcontinuingoperations(Netlossisindicatedby“-”) | 7,491,014,735.42 | 4,927,424,927.20 |
2.Netprofitfromdiscontinuedoperations(Netlossisindicatedby“-”) | ||
(II)Categorizedbyownership | ||
1.Netprofitattributabletoshareholdersoftheparentcompany | 7,225,462,752.58 | 4,713,820,644.90 |
2.Non-controllinginterests | 265,551,982.84 | 213,604,282.30 |
VI.Othercomprehensiveincome,netoftax | -214,366,575.46 | 20,334,650.77 |
Othercomprehensiveincomeattributabletoownersoftheparentcompany,netoftax | -210,319,955.80 | 4,510,959.61 |
(I)Othercomprehensiveincomethatcannotbesubsequentlyreclassifiedtoprofitorloss | -44,824,020.81 | 21,551,080.01 |
1.Changesfromre-measurementofdefinedbenefitplans | ||
2.Othercomprehensiveincomethatcannotbereclassifiedtoprofitorlossundertheequitymethod | ||
3.Changesinfairvalueofotherinvestmentsinequityinstruments | -44,824,020.81 | 21,551,080.01 |
4.Changesinfairvalueofenterprises’owncreditrisks | ||
5.Others | ||
(II)Othercomprehensiveincomethatwillbereclassifiedtoprofitorloss | -165,495,934.99 | -17,040,120.40 |
1.Othercomprehensiveincomethatwillbereclassifiedtoprofitorlossundertheequitymethod | ||
2.Changesinfairvalueofotherdebtinvestments | ||
3.Amountsoffinancialassetsreclassifiedintoothercomprehensiveincome | ||
4.Provisionforcredit |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
impairmentofotherdebtinvestments | ||
5.Reserveforcashflowhedges | ||
6.Translationdifferencesoffinancialstatementsdenominatedinforeigncurrencies | -165,495,934.99 | -17,040,120.40 |
7.Others | ||
Othercomprehensiveincomeattributabletominorityinterests,netoftax | -4,046,619.66 | 15,823,691.16 |
VII.Totalcomprehensiveincome | 7,276,648,159.96 | 4,947,759,577.97 |
Totalcomprehensiveincomeattributabletoownersoftheparentcompany | 7,015,142,796.78 | 4,718,331,604.51 |
Totalcomprehensiveincomeattributabletominorityinterests | 261,505,363.18 | 229,427,973.46 |
VIII.Earningspershare: | ||
(I)Basicearningspershare | 1.03 | 0.68 |
(II)Dilutedearningspershare | 1.01 | 0.67 |
Foranybusinesscombinationinvolvingenterprisesundercommoncontrolforthecurrentperiod,thenetprofitsoftheabsorbedpartypriortothecombinationareRMBinthecurrentperiod,andwereRMBinpriorperiod.Legalrepresentative:WANGLaichunChieffinancialofficer:WUTiansongHeadofaccountingdepartment:XIAONa
4.Incomestatementoftheparentcompany
In:RMB
Item | 2020 | 2019 |
I.Totaloperatingincome | 11,565,103,529.27 | 4,373,597,656.26 |
Less:Operatingcosts | 10,781,197,082.67 | 3,954,659,940.48 |
Taxesandlevies | 18,261,507.97 | 9,675,842.17 |
Sellingexpenses | 35,063,571.34 | 56,805,073.90 |
Generalexpenses | 56,228,389.80 | 159,777,425.20 |
R&Dexpenses | 378,120,159.26 | 151,259,405.54 |
Financialexpenses | 96,281,059.07 | 19,712,919.87 |
Including:Interestexpenses | 75,305,134.45 | 14,615,914.41 |
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Interestincome | 16,540,879.08 | 1,915,078.95 |
Add:Otherincome | 79,872,863.79 | 24,792,367.07 |
Investmentincome(Lossisindicatedby“-”) | 3,409,929,279.99 | 690,975,860.47 |
Including:Incomefrominvestmentsinassociatesandjointventures | 452,498.12 | -59,092,453.94 |
Incomefromderecognitionoffinancialassetsmeasuredatamortizedcost(Lossisindicatedby“-”) | ||
Netexposurehedgingincome(Lossisindicatedby“-”) | ||
Incomefromchangesinfairvalue(Lossisindicatedby“-”) | 35,468,629.87 | 504,180.50 |
Impairmentlossesofcredit(Lossisindicatedby“-”) | -1,815,106.23 | -1,614,173.72 |
Impairmentlossesofassets(Lossisindicatedby“-”) | 146,637.49 | -1,839,050.41 |
Incomefromdisposalofassets(Lossisindicatedby“-”) | 93,414.42 | 44,093.10 |
II.Operatingprofit(Lossisindicatedby“-”) | 3,723,647,478.49 | 734,570,326.11 |
Add:Non-operatingincome | 36,922.70 | 67,107.37 |
Less:Non-operatingexpenses | 2,523,203.41 | 9,934,373.14 |
III.Totalprofit(Totallossesareindicatedby“-”) | 3,721,161,197.78 | 724,703,060.34 |
Less:Incometaxexpenses | 13,833,532.26 | -9,759,786.32 |
Ⅳ.Netprofit((Netlossisindicatedby“-”) | 3,707,327,665.52 | 734,462,846.66 |
(I)Netprofitfromcontinuingoperation(Netlossisindicatedby“-”) | 3,707,327,665.52 | 734,462,846.66 |
(II)Netprofitfromdiscontinuedoperations(Netlossisindicatedby“-”) | ||
V.Othercomprehensiveincome,netoftax | -44,873,885.23 | 21,137,812.87 |
(I)Othercomprehensiveincomethatcannotbesubsequentlyreclassified | -44,873,885.23 | 21,137,812.87 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
toprofitorloss | ||
1.Changesfromre-measurementofdefinedbenefitplans | ||
2.Othercomprehensiveincomethatcannotbereclassifiedtoprofitorlossundertheequitymethod | ||
3.Changesinfairvalueofotherinvestmentsinequityinstruments | -44,873,885.23 | 21,137,812.87 |
4.Changesinfairvalueofenterprises’owncreditrisks | ||
5.Others | ||
(II)Othercomprehensiveincomethatwillbereclassifiedtoprofitorloss | ||
1.Othercomprehensiveincomethatwillbereclassifiedtoprofitorlossundertheequitymethod | ||
2.Changesinfairvalueofotherdebtinvestments | ||
3.Amountsoffinancialassetsreclassifiedintoothercomprehensiveincome | ||
4.Provisionforcreditimpairmentofotherdebtinvestments | ||
5.Reserveforcashflowhedges | ||
6.Translationdifferencesoffinancialstatementsdenominatedinforeigncurrencies | ||
7.Others | ||
VI.Totalcomprehensiveincome | 3,662,453,780.29 | 755,600,659.53 |
VII.Earningspershare: | ||
(I)Basicearningspershare | ||
(II)Dilutedearningspershare |
5.Consolidatedstatementsofcashflows
In:RMB
Item | 2020 | 2019 |
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I.CashFlowsfromOperatingActivities: | ||
Cashreceiptsfromthesalesofgoodsandtherenderingofservices; | 97,065,870,437.67 | 58,859,762,272.15 |
Netincreaseincustomerdepositsanddepositsfrombanksandotherfinancialinstitutions | ||
Netincreaseinloansfromthecentralbank | ||
Netincreaseintakingfromotherfinancialinstitutions | ||
Cashpaymentsforclaimsandpolicyholders’benefitsunderdirectinsurancecontracts | ||
Netcashreceiptsfromreinsurancebusiness | ||
Netcashreceiptsfrompolicyholders’depositsandinvestmentcontractliabilities | ||
Cashreceiptsfrominterest,feesandcommissions | ||
Netincreaseintakingfrombanksandotherfinancialinstitutions | ||
Netincreaseinfinancialassetssoldunderrepurchasearrangements | ||
Netcashreceivedfromsecuritiestradingagency | ||
Receiptsoftaxrefunds | 3,100,093,905.89 | 2,611,921,580.42 |
Othercashreceiptsrelatingtooperatingactivities | 1,178,580,038.87 | 728,201,545.63 |
Sub-totalofcashinflowsfromoperatingactivities | 101,344,544,382.43 | 62,199,885,398.20 |
Cashpaymentsforgoodspurchasedandservicesreceived | 78,908,490,079.24 | 42,488,386,509.36 |
Netincreaseinloansandadvancestocustomers | ||
Netincreaseinbalancewiththecentralbankandduefrombanksandotherfinancialinstitution |
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Cashpaymentsforclaimsandpolicyholders’benefitsunderdirectinsurancecontracts | ||
Netincreaseinplacementswithbanksandotherfinancialinstitutions | ||
Cashpaymentsforinterest,feesandcommissions | ||
Cashpaymentsforinsurancepolicyholderdividends | ||
Cashpaymentstoandonbehalfofemployees | 11,976,189,826.48 | 8,201,521,329.49 |
Paymentsofvarioustypesoftaxes | 1,462,211,616.65 | 1,294,566,177.19 |
Othercashpaymentsrelatingtooperatingactivities | 2,124,441,374.01 | 2,749,423,207.83 |
Sub-totalofcashoutflowsfromoperatingactivities | 94,471,332,896.38 | 54,733,897,223.87 |
Netcashflowfromoperatingactivities | 6,873,211,486.05 | 7,465,988,174.33 |
II.CashFlowsfromInvestingActivities: | ||
Cashreceiptsfromdisposalsandrecoveryofinvestments | 55,479,505,473.33 | 80,206,416,647.61 |
Cashreceiptsfrominvestmentincome | 487,104,548.83 | 88,715,608.23 |
Netcashreceiptsfromdisposalsoffixedassets,intangibleassetsandotherlong-termassets | 105,209,975.47 | 140,428,894.26 |
Netcashreceiptsfromdisposalsofsubsidiariesandotherbusinessentities | 62,681,623.24 | 7,239,362.24 |
Othercashreceiptsrelatingtoinvestingactivities | ||
Sub-totalofcashinflowsfrominvestingactivities | 56,134,501,620.87 | 80,442,800,512.34 |
Cashpaymentstoacquireorconstructfixedassets,intangibleassetsandotherlong-termassets | 7,502,140,356.20 | 6,362,579,306.81 |
Cashpaymentstoacquireinvestments | 57,696,197,909.00 | 80,341,719,000.94 |
Netincreaseinpledgedloansreceivables |
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Netcashpaymentsforacquisitionsofsubsidiariesandotherbusinessunits; | 83,897,533.75 | 36,117,688.79 |
Othercashpaymentsrelatingtoinvestingactivities. | ||
Sub-totalofcashoutflowsfrominvestingactivities | 65,282,235,798.95 | 86,740,415,996.54 |
Netcashflowfrominvestingactivities | -9,147,734,178.08 | -6,297,615,484.20 |
III.CashFlowsfromFinancingActivities: | ||
Cashreceiptsfromcapitalcontributions | 1,610,278,326.76 | |
Including:Cashreceiptsfromcapitalcontributionsfromminorityownersofsubsidiaries | 1,091,126,000.00 | |
Cashreceiptsfromborrowings | 25,747,304,566.98 | 22,031,435,875.30 |
Othercashreceiptsrelatingtofinancingactivities | 4,485,600,000.00 | 500,000,000.00 |
Sub-totalofcashinflowsfromfinancingactivities | 31,843,182,893.74 | 22,531,435,875.30 |
Cashrepaymentsofborrowings | 23,976,420,698.67 | 20,910,702,273.13 |
Cashpaymentsfordistributionofdividendsorprofitsorsettlementofinterestexpenses | 1,065,757,282.54 | 536,308,613.00 |
Including:Paymentsfordistributionofdividendsorprofitstominorityownersofsubsidiaries | 12,150,000.00 | |
Othercashpaymentsrelatingtofinancingactivities | 14,511,270.50 | 12,066,213.47 |
Sub-totalofcashoutflowsfromfinancingactivities | 25,056,689,251.71 | 21,459,077,099.60 |
Netcashflowfromfinancingactivities | 6,786,493,642.03 | 1,072,358,775.70 |
IV.EffectofForeignExchangeRateChangesonCashandCashEquivalents | -194,506,422.92 | 97,088,350.10 |
V.NetIncreaseinCashandCashEquivalents | 4,317,464,527.08 | 2,337,819,815.93 |
Add:Openingbalanceofcashandcashequivalents | 6,147,339,924.26 | 3,809,520,108.33 |
VI.ClosingBalanceofCashandCash | 10,464,804,451.34 | 6,147,339,924.26 |
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6.Statementofcashflowsoftheparentcompany
In:RMB
EquivalentsItem
Item | 2020 | 2019 |
I.CashFlowsfromOperatingActivities: | ||
Cashreceiptsfromthesalesofgoodsandtherenderingofservices; | 7,317,370,785.47 | 4,494,254,381.92 |
Receiptsoftaxrefunds | 138,658,293.85 | 138,903,885.43 |
Othercashreceiptsrelatingtooperatingactivities | 1,643,814,995.33 | 559,380,122.12 |
Sub-totalofcashinflowsfromoperatingactivities | 9,099,844,074.65 | 5,192,538,389.47 |
Cashpaymentsforgoodspurchasedandservicesreceived | 8,120,664,222.33 | 3,397,695,203.62 |
Cashpaymentstoandonbehalfofemployees | 135,105,794.86 | 111,095,822.27 |
Paymentsofvarioustypesoftaxes | 105,195,119.59 | 87,707,937.86 |
Othercashpaymentsrelatingtooperatingactivities | 1,963,131,078.26 | 434,734,580.72 |
Sub-totalofcashoutflowsfromoperatingactivities | 10,324,096,215.04 | 4,031,233,544.47 |
Netcashflowfromoperatingactivities | -1,224,252,140.39 | 1,161,304,845.00 |
II.CashFlowsfromInvestingActivities: | ||
Cashreceiptsfromdisposalsandrecoveryofinvestments | 13,929,048,580.41 | 12,486,000,000.00 |
Cashreceiptsfrominvestmentincome | 3,416,407,362.80 | 843,790,277.09 |
Netcashreceiptsfromdisposalsoffixedassets,intangibleassetsandotherlong-termassets | 27,330,856.05 | 8,172,506.42 |
Netcashreceiptsfromdisposalsofsubsidiariesandotherbusinessentities | 63,942,000.00 | 7,239,163.89 |
Othercashreceiptsrelatingtoinvestingactivities |
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Sub-totalofcashinflowsfrominvestingactivities | 17,436,728,799.26 | 13,345,201,947.40 |
Cashpaymentstoacquireorconstructfixedassets,intangibleassetsandotherlong-termassets | 125,735,695.16 | 41,821,786.87 |
Cashpaymentstoacquireinvestments | 19,459,676,016.32 | 13,325,246,977.28 |
Netcashpaymentsforacquisitionsofsubsidiariesandotherbusinessunits; | ||
Othercashpaymentsrelatingtoinvestingactivities. | ||
Sub-totalofcashoutflowsfrominvestingactivities | 19,585,411,711.48 | 13,367,068,764.15 |
Netcashflowfrominvestingactivities | -2,148,682,912.22 | -21,866,816.75 |
III.CashFlowsfromFinancingActivities: | ||
Cashreceiptsfromcapitalcontributions | 527,162,579.34 | |
Cashreceiptsfromborrowings | 1,543,324,080.00 | 96,229,200.00 |
Othercashreceiptsrelatingtofinancingactivities | 4,485,600,000.00 | 500,000,000.00 |
Sub-totalofcashinflowsfromfinancingactivities | 6,556,086,659.34 | 596,229,200.00 |
Cashrepaymentsofborrowings | 1,882,450,000.00 | 523,510,176.00 |
Cashpaymentsfordistributionofdividendsorprofitsorsettlementofinterestexpenses | 662,016,221.81 | 219,909,951.40 |
Othercashpaymentsrelatingtofinancingactivities | 11,364,675.69 | 10,279,415.46 |
Sub-totalofcashoutflowsfromfinancingactivities | 2,555,830,897.50 | 753,699,542.86 |
Netcashflowfromfinancingactivities | 4,000,255,761.84 | -157,470,342.86 |
IV.EffectofForeignExchangeRateChangesonCashandCashEquivalents | -7,911,773.68 | 4,522,010.88 |
V.NetIncreaseinCashandCashEquivalents | 619,408,935.55 | 986,489,696.27 |
Add:Openingbalanceofcashandcashequivalents | 1,261,246,519.90 | 274,756,823.63 |
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VI.ClosingBalanceofCashandCashEquivalents | 1,880,655,455.45 | 1,261,246,519.90 |
7.Consolidatedstatementofchangesinowners’equity
Amountsinthecurrentperiod
In:RMB
Item | 2020 | ||||||||||||||
Equityattributabletoownersoftheparentcompany | Minorityinterests | Totalowners’equity | |||||||||||||
Sharecapital | Otherequityinstruments | Capitalreserve | Less:Treasuryshares | Othercomprehensiveincome | Specialreserve | Surplusreserve | Generalriskreserve | Unappropriatedprofit | Others | Sub-total | |||||
Preferredshares | Perpetualbonds | Others | |||||||||||||
I.Closingbalanceoftheprecedingyear | 5,349,001,738.00 | 2,654,692,874.21 | 165,602,152.74 | 362,335,031.18 | 11,764,987,172.39 | 20,296,618,968.52 | 1,453,084,326.20 | 21,749,703,294.72 | |||||||
Add:Changesinaccountingpolicies | |||||||||||||||
Correctionsofpriorperioderrors | |||||||||||||||
Businesscombinationinvolvingenterprisesundercommoncontrol | |||||||||||||||
Others | |||||||||||||||
II.Openingbalanceofthecurrentyear | 5,349,001,738.00 | 2,654,692,874.21 | 165,602,152.74 | 362,335,031.18 | 11,764,987,172.39 | 20,296,618,968.52 | 1,453,084,326.20 | 21,749,703,294.72 | |||||||
III.Changesfortheyear | 1,650,766, | 527,449,22 | -764,593,304 | -210,319,955 | 370,732,766. | 6,231,162,08 | 7,805,197,26 | 1,351,699,30 | 9,156,896,56 |
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(Decreaseisindicatedby“-”) | 448.00 | 6.56 | .61 | .80 | 55 | 5.34 | 6.04 | 1.31 | 7.35 | |||||
(I)Totalcomprehensiveincome | -187,749,263.28 | 7,225,462,752.58 | 7,037,713,489.30 | 265,551,982.84 | 7,303,265,472.14 | |||||||||
(II)Owners’contributionsandreductionincapital | 39,223,321.00 | 527,449,226.56 | 846,949,822.39 | 1,413,622,369.95 | 1,099,647,318.47 | 2,513,269,688.42 | ||||||||
1.Ordinarysharescontributedbyowners | 39,223,321.00 | 487,939,258.34 | 527,162,579.34 | 1,091,126,000.00 | 1,618,288,579.34 | |||||||||
2.Capitalcontributionfromholdersofotherequityinstruments | 527,449,226.56 | 527,449,226.56 | 527,449,226.56 | |||||||||||
3.Share-basedpaymentrecognizedinowners’equity | 347,403,580.73 | 347,403,580.73 | 4,517,074.25 | 351,920,654.98 | ||||||||||
4.Others | 11,606,983.32 | 11,606,983.32 | 4,004,244.22 | 15,611,227.54 | ||||||||||
(III)Profitdistribution | 370,732,766.55 | -1,015,517,118.21 | -644,784,351.66 | -13,500,000.00 | -658,284,351.66 | |||||||||
1.Transfertosurplusreserve | 370,732,766.55 | -370,732,766.55 | ||||||||||||
2.Transfertogeneralriskreserve | ||||||||||||||
3.Distributionstoowners(orshareholders) | -644,615,942.06 | -644,615,942.06 | -13,500,000.00 | -658,115,942.06 | ||||||||||
4.Others | -168,409.60 | -168,409.60 | -168,409.60 | |||||||||||
(IV)Transfers | 1,611 | -1,611, | -22,57 | 21,216 | -1,354, | -1,354, |
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withinowners’equity | ,543,127.00 | 543,127.00 | 0,692.52 | ,450.97 | 241.55 | 241.55 | ||||||||
1.Capitalizationofcapitalreserve | 1,611,543,127.00 | -1,611,543,127.00 | ||||||||||||
2.Capitalizationofsurplusreserve | ||||||||||||||
3.Lossoffsetbysurplusreserve | ||||||||||||||
4.Retainedearningscarriedforwardfromchangesindefinedbenefitplans | ||||||||||||||
5.Retainedearningscarriedforwardfromothercomprehensiveincome | -22,570,692.52 | 21,216,450.97 | -1,354,241.55 | -1,354,241.55 | ||||||||||
6.Others | ||||||||||||||
(V)Specialreserve | ||||||||||||||
1.Transfertospecialreserveinthecurrentperiod | ||||||||||||||
2.Amountutilizedinthecurrentperiod | ||||||||||||||
(VI)Others | ||||||||||||||
VI.Closingbalanceofthecurrentperiod | 6,999,768,186.00 | 527,449,226.56 | 1,890,099,569.60 | -44,717,803.06 | 733,067,797.73 | 17,996,149,257.73 | 28,101,816,234.56 | 2,804,783,627.51 | 30,906,599,862.07 |
Amountforpriorperiod
In:RMB
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Item | 2019 | ||||||||||||||
Equityattributabletoownersoftheparentcompany | Minorityinterests | Totalowners’equity | |||||||||||||
Sharecapital | Otherequityinstruments | Capitalreserve | Less:Treasuryshares | Othercomprehensiveincome | Specialreserve | Surplusreserve | Generalriskreserve | Unappropriatedprofit | Others | Sub-total | |||||
Preferredshares | Perpetualbonds | Others | |||||||||||||
I.Closingbalanceoftheprecedingyear | 4,114,616,722.00 | 3,595,441,323.19 | 163,263,253.88 | 288,526,845.75 | 7,336,096,836.36 | 15,497,944,981.18 | 1,176,891,982.34 | 16,674,836,963.52 | |||||||
Add:Changesinaccountingpolicies | -2,172,060.75 | 361,900.76 | -5,571,942.46 | -7,382,102.45 | -171,957.25 | -7,554,059.70 | |||||||||
Correctionsofpriorperioderrors | |||||||||||||||
Businesscombinationinvolvingenterprisesundercommoncontrol | |||||||||||||||
Others | |||||||||||||||
II.Openingbalanceofthecurrentyear | 4,114,616,722.00 | 3,595,441,323.19 | 161,091,193.13 | 288,888,746.51 | 7,330,524,893.90 | 15,490,562,878.73 | 1,176,720,025.09 | 16,667,282,903.82 | |||||||
III.Changesfortheyear(decreaseisindicatedby“-”) | 1,234,385,016.00 | -940,748,448.98 | 4,510,959.61 | 73,446,284.67 | 4,434,462,278.49 | 4,806,056,089.79 | 276,364,301.11 | 5,082,420,390.90 | |||||||
(I)Totalcomprehensiveincome | 4,510,959.61 | 4,713,820,644.90 | 4,718,331,604.51 | 229,427,973.46 | 4,947,759,577.97 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
(II)Owners’contributionsandreductionincapital | 293,636,567.02 | 293,636,567.02 | 46,936,327.65 | 340,572,894.67 | |||||||
1.Ordinarysharescontributedbyowners | |||||||||||
2.Capitalcontributionfromholdersofotherequityinstruments | |||||||||||
3.Share-basedpaymentrecognizedinowners’equity | 298,563,259.38 | 298,563,259.38 | 9,815,848.19 | 308,379,107.57 | |||||||
4.Others | -4,926,692.36 | -4,926,692.36 | 37,120,479.46 | 32,193,787.10 | |||||||
(III)Profitdistribution | 73,446,284.67 | -279,358,366.41 | -205,912,081.74 | -205,912,081.74 | |||||||
1.Transfertosurplusreserve | 73,446,284.67 | -73,446,284.67 | |||||||||
2.Transfertogeneralriskreserve | |||||||||||
3.Distributionstoowners(orshareholders) | -205,730,836.10 | -205,730,836.10 | -205,730,836.10 | ||||||||
4.Others | -181,245.64 | -181,245.64 | -181,245.64 | ||||||||
(IV)Transferswithinowners’equity | 1,234,385,016.00 | -1,234,385,016.00 | |||||||||
1.Capitalizationofcapitalreserve | 1,234,385,016.00 | -1,234,385,016.00 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
2.Capitalizationofsurplusreserve | |||||||||||||
3.Lossoffsetbysurplusreserve | |||||||||||||
4.Retainedearningscarriedforwardfromchangesindefinedbenefitplans | |||||||||||||
5.Retainedearningscarriedforwardfromothercomprehensiveincome | |||||||||||||
6.Others | |||||||||||||
(V)Specialreserve | |||||||||||||
1.Transfertospecialreserveinthecurrentperiod | |||||||||||||
2.Amountutilizedinthecurrentperiod | |||||||||||||
(VI)Others | |||||||||||||
IV.Closingbalanceofthecurrentperiod | 5,349,001,738.00 | 2,654,692,874.21 | 165,602,152.74 | 362,335,031.18 | 11,764,987,172.39 | 20,296,618,968.52 | 1,453,084,326.20 | 21,749,703,294.72 |
8.Statementofchangesinowners’equityoftheparentcompany
Amountsinthecurrentperiod
In:RMB
Item | 2020 | |||||||||
Share | Otherequity | Capital | Less: | Other | Special | Surplus | Unappr | Others | Total |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
capital | instruments | reserve | Treasuryshares | comprehensiveincome | reserve | reserve | opriatedprofit | owners’equity | ||||
Preferredshares | Perpetualbonds | Others | ||||||||||
I.Closingbalanceoftheprecedingyear | 5,349,001,738.00 | 3,070,397,725.31 | 125,608,900.24 | 362,335,031.18 | 2,318,504,188.81 | 11,225,847,583.54 | ||||||
Add:Changesinaccountingpolicies | ||||||||||||
Correctionsofpriorperioderrors | ||||||||||||
Others | ||||||||||||
II.Openingbalanceofthecurrentyear | 5,349,001,738.00 | 3,070,397,725.31 | 125,608,900.24 | 362,335,031.18 | 2,318,504,188.81 | 11,225,847,583.54 | ||||||
III.Changesfortheyear(Decreaseisindicatedby“-”) | 1,650,766,448.00 | 527,449,226.56 | -767,200,287.93 | -44,873,885.23 | 370,732,766.55 | 2,713,195,407.88 | 4,450,069,675.83 | |||||
(I)Totalcomprehensiveincome | -22,303,192.71 | 3,707,327,665.52 | 3,685,024,472.81 | |||||||||
(II)Owners’contributionsandreductionincapital | 39,223,321.00 | 527,449,226.56 | 844,342,839.07 | 1,411,015,386.63 | ||||||||
1.Ordinarysharescontributedbyowners | 39,223,321.00 | 487,939,258.34 | 527,162,579.34 | |||||||||
2.Capitalcontributionfromholdersofotherequityinstruments | 527,449,226.56 | 527,449,226.56 | ||||||||||
3.Share-basedpayment | 347,403,580.73 | 347,403,580.73 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
recognizedinowners’equity | ||||||||||
4.Others | 9,000,000.00 | 9,000,000.00 | ||||||||
(III)Profitdistribution | 370,732,766.55 | -1,015,348,708.61 | -644,615,942.06 | |||||||
1.Transfertosurplusreserve | 370,732,766.55 | -370,732,766.55 | ||||||||
2.Distributionstoowners(orshareholders) | -644,615,942.06 | -644,615,942.06 | ||||||||
3.Others | ||||||||||
(IV)Transferswithinowners’equity | 1,611,543,127.00 | -1,611,543,127.00 | -22,570,692.52 | 21,216,450.97 | -1,354,241.55 | |||||
1.Capitalizationofcapitalreserve | 1,611,543,127.00 | -1,611,543,127.00 | ||||||||
2.Capitalizationofsurplusreserve | ||||||||||
3.Lossoffsetbysurplusreserve | ||||||||||
4.Retainedearningscarriedforwardfromchangesindefinedbenefitplans | ||||||||||
5.Retainedearningscarriedforwardfromothercomprehensiveincome | -22,570,692.52 | 21,216,450.97 | -1,354,241.55 | |||||||
6.Others | ||||||||||
(V)Specialreserve |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
1.Transfertospecialreserveinthecurrentperiod | |||||||||||
2.Amountutilizedinthecurrentperiod | |||||||||||
(VI)Others | |||||||||||
VI.Closingbalanceofthecurrentperiod | 6,999,768,186.00 | 527,449,226.56 | 2,303,197,437.38 | 80,735,015.01 | 733,067,797.73 | 5,031,699,596.69 | 15,675,917,259.37 |
Amountforpriorperiod
In:RMB
Item | 2019 | |||||||||||
Sharecapital | Otherequityinstruments | Capitalreserve | Less:Treasuryshares | Othercomprehensiveincome | Specialreserve | Surplusreserve | Unappropriatedprofit | Others | Totalowners’equity | |||
Preferredshares | Perpetualbonds | Others | ||||||||||
I.Closingbalanceoftheprecedingyear | 4,114,616,722.00 | 4,006,219,481.93 | 106,904,925.00 | 288,526,845.75 | 1,859,961,356.05 | 10,376,229,330.73 | ||||||
Add:Changesinaccountingpolicies | -2,433,837.63 | 361,900.76 | 3,257,106.87 | 1,185,170.00 | ||||||||
Correctionsofpriorperioderrors | ||||||||||||
Others | ||||||||||||
II.Openingbalanceofthecurrentyear | 4,114,616,722.00 | 4,006,219,481.93 | 104,471,087.37 | 288,888,746.51 | 1,863,218,462.92 | 10,377,414,500.73 | ||||||
III.Changesfortheyear(decreaseisindicatedby“-”) | 1,234,385,016.00 | -935,821,756.62 | 21,137,812.87 | 73,446,284.67 | 455,285,725.89 | 848,433,082.81 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
(I)Totalcomprehensiveincome | 21,137,812.87 | 734,462,846.66 | 755,600,659.53 | |||||||
(II)Owners’contributionsandreductionincapital | 298,563,259.38 | 298,563,259.38 | ||||||||
1.Ordinarysharescontributedbyowners | ||||||||||
2.Capitalcontributionfromholdersofotherequityinstruments | ||||||||||
3.Share-basedpaymentrecognizedinowners’equity | 298,563,259.38 | 298,563,259.38 | ||||||||
4.Others | ||||||||||
(III)Profitdistribution | 73,446,284.67 | -279,177,120.77 | -205,730,836.10 | |||||||
1.Transfertosurplusreserve | 73,446,284.67 | -73,446,284.67 | ||||||||
2.Distributionstoowners(orshareholders) | -205,730,836.10 | -205,730,836.10 | ||||||||
3.Others | ||||||||||
(IV)Transferswithinowners’equity | 1,234,385,016.00 | -1,234,385,016.00 | ||||||||
1.Capitalizationofcapitalreserve | 1,234,385,016.00 | -1,234,385,016.00 | ||||||||
2.Capitalizationofsurplusreserve |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
3.Lossoffsetbysurplusreserve | ||||||||||
4.Retainedearningscarriedforwardfromchangesindefinedbenefitplans | ||||||||||
5.Retainedearningscarriedforwardfromothercomprehensiveincome | ||||||||||
6.Others | ||||||||||
(V)Specialreserve | ||||||||||
1.Transfertospecialreserveinthecurrentperiod | ||||||||||
2.Amountutilizedinthecurrentperiod | ||||||||||
(VI)Others | ||||||||||
IV.Closingbalanceofthecurrentperiod | 5,349,001,738.00 | 3,070,397,725.31 | 125,608,900.24 | 362,335,031.18 | 2,318,504,188.81 | 11,225,847,583.54 |
III.BasicInformation
LuxsharePrecisionIndustryCo.,Ltd.(“Company”or“theCompany”)isacompanylimitedbysharesestablishedbyShenzhenZixinInvestmentCo.,Ltd.(“ZixinInvestment”)andLuxshareLimitedasfoundersafterbeingapprovedbyShenzhenPeople’sGovernmentandShenzhenBureauofTradeandIndustryinFebruary2009.Company’sUniformSocialCreditCode:
91440300760482233Q.TheCompanywaslistedonShenzhenStockExchangeinSeptember2010.TheCompanypertainstothecommunicationequipmentindustry.AsofDecember31,2020,theCompanyissued6,999,768,186sharesintotal,withitsregisteredcapitalamountingtoRMB6,999,768,186anditsregisteredofficelocatedat:2/F,BlockA,SanyoNewIndustrialZone,WestHaoyiCommunity,ShajingStreet,BaoanDistrict,Shenzhen,
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
China.ItsplaceofbusinesswaschangedinAugust2020,andtheplacebeforechangeisNo.17KuiqingRoad,QinghuangVillage,QinghuangIndustrialZone,QingxiTown,DongguanCity,Guangdong,China,andtheplaceafterchangeisNo.313NorthRingRoad,QingxiTown,DongguanCity,Guangdong,China.ThemainbusinessactivitiesoftheCompanyinclude:
productionandoperationofconnectingwires,connectors,computerperipherals,plastichardwareproducts.TheCompany’sparentcompanyisLuxshareLimited,anditsdefactorcontrollersareWANGLaichunandWANGLaisheng.ThesefinancialstatementswereapprovedbytheCompany’sboardofdirectorsonApril20,2021forissuance.TherelevantinformationofsubsidiariesoftheCompanyisseenintheNote“VII.InterestsinOtherEntities”.ThechangesinscopeofconsolidationforthisreportingperiodisseenintheNote“VI.ChangesinScopeofConsolidation”IV.BasisofPreparationofFinancialStatements
1.Basisofpreparation
TheCompanyhaveprepareditsfinancialstatementsinaccordancewiththerequirementsoftheAccountingStandardsforBusinessEnterprises—BasicStandardpromulgatedbytheMinistryofFinanceofthePRC,specificaccountingstandards,guidelinesforapplicationofaccountingstandardsforenterprises,interpretationofaccountingstandardsforenterprisesandotherrelevantregulationssuccessivelypromulgated(collectively,“AccountingStandardsforBusinessEnterprises”)andthePreparationRulesforInformationDisclosurebyCompaniesOfferingSecuritiestothePublicNo.15—GeneralProvisionsonFinancialReportsissuedbyChinaSecuritiesRegulatoryCommission.
2.Goingconcern
TheCompanypreparesitsfinancialstatementsonagoingconcernbasis.TheCompanyhastheabilitytocontinueasagoingconcernwithin12monthsfromtheendofthereportingperiod,anddetectednomajoreventsthatmayaffectsuchability.V.ImportantAccountingPoliciesandAccountingEstimatesRemindersonspecificaccountingpoliciesandaccountingestimates:
Thedetailsareseeninthefollowingstatements:
1.StatementofcompliancewiththeAccountingStandardsforBusinessEnterprises
ThesefinancialstatementscomplywiththerequirementsoftheAccountingStandardsforBusinessEnterprisespromulgatedbytheMinistryofFinanceofthePRC,andtrulyand
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
completelyreflecttheconsolidatedandparentcompany’sfinancialpositionoftheCompanyasofDecember31,2020,andtheconsolidatedandparentcompany’soperatingresultsandcashflowsfortheyearthenended.
2.Accountingperiod
TheCompany’saccountingyearisfromJanuary1toDecember31ofeachcalendaryear.
3.Operatingcycle
TheCompany’soperatingcycleis12months.
4.Functionalcurrency
TheCompanyusesRMBasitsfunctionalcurrency.ThesubsidiariesoftheCompanydetermineitsfunctionalcurrencybasedontheprimaryeconomicenvironmentinwhichsuchsubsidiariesoperate.ThesefinancialstatementsarepresentedinRMB.
5.Accountingtreatmentofbusinesscombinationsinvolvingenterprisesundercommoncontrolandbusinesscombinationsnotinvolvingenterprisesundercommoncontrol
Businesscombinationinvolvingenterprisesundercommoncontrol:Theassetsandliabilitiesacquiredbytheabsorbingpartyinabusinesscombination(includinggoodwillformedthroughtheacquisitionbytheultimatecontrolleroftheabsorbedparty)aremeasuredaccordingtothecarryingamountoftheassetsandliabilitiesoftheabsorbedpartyinthefinancialstatementsofultimatecontrolleronthecombinationdate.Thedifferencebetweenthecarryingamountofthenetassetsobtainedinabusinesscombinationandthecarryingamountoftheconsiderationpaidforthecombination(ortheaggregatefacevalueofsharesissuedasconsideration)isadjustedtotheequitypremiuminthecapitalreserve.Iftheequitypremiuminthecapitalreserveisnotsufficienttoabsorbthedifference,anyexcessshallbeadjustedagainstretainedearnings.Businesscombinationnotinvolvingenterprisesundercommoncontrol:Thecostofcombinationistheaggregateofthefairvalues,attheacquisitiondate,oftheassetsgiven,liabilitiesincurredorassumed,andequitysecuritiesissuedbytheacquirer,inexchangeforcontroloftheacquiree.Wherethecostofabusinesscombinationexceedstheacquirer’sinterestinthefairvalueoftheacquiree’sidentifiablenetassets,thedifferenceisrecognizedasgoodwill;wherethecostofabusinesscombinationislowerthantheacquirer’sinterestinthefairvalueoftheacquiree’sidentifiablenetassets,thedifferenceisrecognizedinprofitorlossforthecurrentperiod.Theacquiree’sidentifiableassets,liabilitiesandcontingentliabilitiesthatareacquiredinthecombinationmeettherecognitioncriteriaaremeasuredatthefairvalueonthedateofacquisition.Thecostsincurreddirectlyattributabletothebusinesscombinationarerecognizedinprofitorlossforthecurrentperiodwhenincurred;thetransactioncostsforissueofequitysecuritiesordebtsecuritiesarerecognizedintheamountinitiallyrecognizedofequitysecuritiesordebtsecurities.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
6.Methodofpreparationofconsolidatedfinancialstatements
1.Scopeofconsolidation
Thescopeofconsolidatedfinancialstatementsisdeterminedonthebasisofcontrol,andincludesthoseoftheCompanyandallofitssubsidiaries.“Control”meansthepoweroftheCompanyovertheinvestee,throughwhichtheCompanywillenjoyvariablereturnsbyparticipatingintherelevantactivitiesandhastheabilitytousethepowerovertheinvesteetoaffecttheCompany’sreturnamount.
2.Consolidationprocedures
TheCompanyregardstheentireenterprisegroupasanaccountingentityandpreparestheconsolidatedfinancialstatementsaccordingtotheuniformedaccountingpolicies,reflectingtheoverallfinancialstatus,operatingresultsandcashflowsofthisenterprisegroup.Theeffectsofotherintragrouptransactions(betweentheCompanyanditssubsidiariesorbetweensubsidiaries)areeliminated.Wheretheintragrouptransactionsshowthatrelevantassetshavesufferedimpairmentlosses,thoselossesarerecognizedfully.WheretheaccountingpoliciesandperiodsadoptedbyallsubsidiariesarenotinlinewiththoseoftheCompany,thenecessaryadjustmentsaremadetothefinancialstatementsofthesesubsidiariesbasedontheaccountingpoliciesandperiodsoftheCompanywhenpreparingtheconsolidatedfinancialstatements.Thatportionofowner’sequities,netprofitsorlossesandcomprehensiveincomeofsubsidiariesfortheperiodattributabletominorityinterestsareseparatelypresentedintheconsolidatedbalancesheetbelowthe“owner’sequity”lineitem,intheconsolidatedincomestatementbelowthe“netprofit”and“totalcomprehensiveincome”as“minorityinterests”.Whentheamountoflossforthecurrentperiodattributabletotheminorityshareholdersofasubsidiaryexceedstheminorityshareholders’shareoftheopeningbalanceofowner’sequityofthesubsidiary,theexcessisallocatedagainstminorityinterests.
(1)IncreaseinsubsidiesorbusinessWhereasubsidiaryorbusinessisacquiredduringthereportingperiodthroughabusinesscombinationinvolvingenterprisesundercommoncontrol,operatingresultsandcashflowsofthissubsidiaryorbusinessfromthebeginningoftheperiodinwhichthecombinationtakesplacetotheendofthereportingperiodareincludedintheconsolidatedfinancialstatements.Meanwhile,theadjustmentsaremadetotheopeningbalancesoftheconsolidatedfinancialstatementsandtherelevantitemsofthecomparativestatement,andthecombinedreportingentityisdeemedtohaveexistedsincethetimewhentheultimatecontrollerbeginstoexercisecontrol.WheretheCompanybecomescapabletoexercisecontroloveraninvesteeunderthe
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
commoncontrolduetoadditionalinvestmentorotherreasons,forequityinvestmentsheldbeforeacquiringcontroloftheabsorbedparty,therelevantgainsorlosses,othercomprehensiveincomeandotherchangesinnetassetsrecognizedduringtheperiodfromtheearlierofthedateofacquisitionoforiginalequityorthedatewhentheabsorbingpartyandtheabsorbedpartyareunderthecommoncontroluntilthecombinationdatearerespectivelyoffsetagainstopeningbalancesofretainedearningsduringthecomparativereportingperiodorprofitorlossforthecurrentperiod.Whereasubsidiaryorbusinessisacquiredduringthereportingperiodthroughabusinesscombinationnotinvolvingenterprisesundercommoncontrol,itisincludedintheconsolidatedfinancialstatementsfromthedateofacquisitionbasedonthefairvalueofidentifiablenetassets,liabilitiesandcontingentliabilitiesdeterminedonthedateofacquisition.WheretheCompanybecomescapabletoexercisecontroloveraninvesteenotundercommoncontrolduetoadditionalinvestmentorotherreasons,fortheacquiree’sequityheldpriortothedateofacquisition,theCompanyremeasuresthefairvalueoftheequityonthedateofacquisition,andthedifferencebetweenthefairvalueoftheequityanditscarryingamountisrecognizedinprofitorlossforthecurrentperiod.Wheretheacquiree’sequityheldpriortothedateofacquisitioninvolvesothercomprehensiveincomethatcanbereclassifiedtoprofitorlossandchangesinotherowners’equityunderequitymethod,suchothercomprehensiveincomeandchangesaretransferredtotheincomeoftheperiodinwhichthedateofacquisitionfalls.
(2)Disposalofsubsidiaries
①GeneraldisposalWhentheCompanylosescontrolovertheinvesteeduetodisposalofpartialequityinvestmentsorotherreasons,fortheremainingequityinvestmentsafterdisposal,theCompanyremeasurestheremainingequityinvestmentsafterdisposalatthefairvalueonthedatewhentheCompanylosesitscontrol.Thedifferencebetweenthesumoftheconsiderationfromdisposalofequityandthefairvalueofremainingequitylessthesumofanoriginalsubsidiary’sshareofnetassetsandgoodwillcontinuouslycalculatedfromthedateofacquisitionorcombinationaccordingtooriginalshareholdingratioisrecognizedastheinvestmentreturnfortheperiodinwhichthecontrolislost.Othercomprehensiveincomerelatingtotheoriginalsubsidiary’sequityinvestmentsthatwillbereclassifiedtoprofitorlossandchangesinotherowners’equityundertheequitymethodistransferredintotheinvestmentincomeforthecurrentperiodwhenthecontrolislost.
②DisposalofsubsidiariesbystepsWherethesubsidiary’sequityinvestmentsaredisposedbystepsthroughmultipletransactionsuntilthecontrolislost,andthetermsandconditionsofalltransactionson
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
disposalofthesubsidiary’sequityinvestmentsandtheeconomicimpactthereoffallwithinoneormoreofthefollowingcircumstances,thenitusuallyindicatesthatmultipletransactioneventsbelongasinglepackage:
i.thesestransactionsareconcludedsimultaneouslyoraftertheinfluenceoneachotherisconsidered;ⅱ.thesetransactionsaawholecanachieveacompletecommercialresult;iii.theoccurrenceofonetransactiondependsonthatofatleastoneothertransaction;ⅳ.atransactionisnoteconomicalalone,buteconomicalwhenconsideredtogetherwithothertransactions.Wherealltransactionsbelongtoasinglepackage,theCompanyaccountsforsuchtransactionsasonetransactiontodisposeofandloseitscontroloverthesubsidiary;however,thedifferencebetweentheproceedsfromeachdisposalbeforelossofcontrolandtheshareownedbytheCompanyinthenetassetsofthesubsidiaryinrelationtotheinvestmentdisposedofisrecognizedinothercomprehensiveincomeintheconsolidatedfinancialstatements,whichiswhollytransferredtotheprofitorlossintheperiodinwhichthecontrolislost.Wherealltransactionsdonotbelongtoasinglepackage,priortothelossofcontrol,theCompanyaccountsforsuchtransactionsaspartialdisposalofasubsidiary’sequityinvestmentsintheeventthatthecontrolisnotlost;andwhenthecontrolislost,theCompanyaccountsforsuchtransactionsinaccordancewiththegeneralmethodsofdisposalofsubsidiaries.
(3)Acquisitionofasubsidiary’sminorityequityThedifferencebetweenthelong-termequityinvestmentsnewlyobtainedbytheCompanyduetoacquisitionofminorityequityanditsshareofthesubsidiary’snetassetscontinuouslycalculatedfromthedateofacquisitionorcombinationaccordingtonewshareholdingratioisadjustedagainstthecapitalreserve(capitalpremium)intheconsolidatedbalancesheet.Iftheequitypremiuminthecapitalreserveisnotsufficienttoabsorbthedifference,anyexcessshallbeadjustedagainstretainedearnings.
(4)Partialdisposalofthesubsidiary’slong-termequityinvestmentsintheeventthatthecontrolisnotlostThedifferencebetweentheproceedsfromdisposalandtheshareownedbytheCompanyinthenetassetsofthesubsidiaryinrelationtothelong-termequityinvestmentdisposedofthatiscalculatedcontinuouslyfromthedateofacquisitionorcombinationisadjustedagainstthecapitalreserve(capitalpremium).Incasethecapitalpremiumisnotsufficient
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
toabsorbthedifference,theremainingbalanceisadjustedagainsttheretainedearnings.
7.Classificationofjointarrangementsandaccountingtreatmentofjointoperations
Jointarrangementsareclassifiedintojointoperationsandjointventures.Whereapartytoajointarrangementenjoysrelevantassetsandassumesrelevantliabilitiesofsuchanarrangement,thiscasebelongstoajointoperation.TheCompanyrecognizesthefollowingitemsrelatingtoitsinterestinthejointoperation:
(1)theassetsheldindividuallybytheCompany,andtheCompany’sshareoftheassetsheldjointly;
(2)theliabilitiesincurredindividuallybytheCompany,andtheCompany’sshareoftheliabilitiesincurredjointly;
(3)theCompany’srevenuefromthesalesofitsshareofoutputofthejointoperation;
(4)theCompany’sshareofrevenuefromthesalesofassetsbythejointoperation;and
(5)theexpensesincurredindividuallybytheCompany,andtheCompany’sshareoftheexpensesincurredjointlybythejointoperation.TheCompanyaccountsforinvestmentsinjointventuresusingtheequitymethodandthedetailsareseeninNote“III.(XIV)Long-termEquityInvestments”
8.Recognitionofcashandcashequivalents
CashcomprisescashonhandanddepositsoftheCompanythatcanbereadilywithdrawnondemand.Cashequivalentscompriseshort-term,highlyliquidinvestmentsheldbytheCompanythatarereadilyconvertibleintoknownamountsofcashandwhicharesubjecttoaninsignificantriskofchangesinvalue.
9.Foreigncurrencytransactionsandtranslationofforeigncurrencyfinancialstatements
1.Foreigncurrencytransactions
TheforeigncurrencytransactionsarerecordedbytranslatingtheamountofaforeigncurrencyintoRMBatthespotexchangerateprevailingonthe1stofeachmonth.Thebalancesofforeigncurrencymonetaryitemsaretranslatedusingthespotexchangerateatthebalancesheetdate.Exchangedifferencesarisingtherefromarerecognizedinprofitorlossforthecurrentperiod,exceptforexchangedifferencesgeneratedbyspecific-purposeborrowingsinaforeigncurrencyrelatedtoacquisitionofqualifyingassets,whichshouldbeaccountedforaccordingtothecapitalizationprinciplesofborrowingcosts.
2.TranslationoffinancialstatementsdenominatedinforeigncurrenciesAssetsandliabilitiesinthebalancesheetaretranslatedatthespotexchangerateprevailingatthebalancesheetdate.Anitemofowners’equityexceptfor“unappropriatedprofit”aretranslatedatthespotexchangeratesatthedatesonwhichsuchitemsarose.
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Incomeandexpensesintheincomestatementaretranslatedatthespotexchangeratesorsimilarratesatthedatesofthetransactions.WhentheCompanydisposesofaforeignoperation,ittransfersthetranslationdifferencesrelatingtotranslationofthefinancialstatementsofthatforeignoperationfromtheowner’sentitytoprofitorlossforthecurrentperiod.
10.Financialinstruments
WhentheCompanybecomesapartytoafinancialinstrumentcontract,afinancialasset,liabilityorequityinstrumentisrecognized.
1.Classificationoffinancialinstruments
BasedontheCompany’sbusinessmodelformanagingfinancialassetsandthecashflowcharacteristicsoffinancialassets,thefinancialassetsareclassifiedintooninitialrecognition:financialassetsmeasuredatitsamortizedcost,financialassetsatfairvaluethroughothercomprehensiveincome,andfinancialassetsatfairvaluethroughprofitorloss.TheCompanyclassifiesfinancialassetsthatmeetthefollowingcriteriaatthesametimeandarenotdesignatedasatfairvaluethroughprofitorlossasthefinancialassetsmeasuredatamortizedcost:
-thebusinessmodelaimstocollectcontractualcashflows;and-thecontractualcashflowsaregeneratedonlyfrompaymentofprincipalandinterestontheoutstandingprincipal;TheCompanyclassifiesfinancialassetsthatmeetthefollowingcriteriaatthesametimeandarenotdesignatedasatfairvaluethroughprofitorlossasthefinancialassets(debtinstruments)atfairvaluethroughothercomprehensiveincome:
-thebusinessmodelaimstocollectcontractualcashflowsandsellsuchfinancialassets;and-thecontractualcashflowsaregeneratedonlyfrompaymentofprincipalandinterestontheoutstandingprincipal;TheCompanyirrevocablydesignatesthenon-tradingequityinstrumentsasfinancialassets(equityinstruments)atfairvaluethroughothercomprehensiveincomeoninitialrecognition.Suchdesignationismadeonthebasisofasingleinvestment,andtherelevantinvestmentsmeetthedefinitionofanequityinstrumentfromtheissuer’sperspective.Exceptforthefinancialassetsmeasuredatamortizedcostandthefinancialassetsatfairvaluethroughothercomprehensiveincome,theCompanyclassifiesallofotherremainingfinancialassetsasthefinancialassetsatfairvaluethroughprofitorloss.Iftheaccountingmismatchcanbeeliminatedorsignificantlyreducedoninitialrecognition,theCompanymayirrevocablydesignatethefinancialassetsthatshouldhavebeenclassifiedasthosemeasuredatamortizedcostorthoseatfairvaluethroughothercomprehensiveincomeasthefinancialassetsatfairvaluethroughprofitorloss.Oninitialrecognition,financialliabilitiesareclassifiedintothefollowingtwocategories:
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financialliabilitiesatfairvaluethroughprofitorlossandfinancialliabilitiesmeasuredatamortizedcost.Afinancialliabilitymaybedesignatedasatfairvaluethroughprofitorlossoninitialmeasurementifoneofthefollowingconditionsismet:
1)thedesignationeliminatesorsignificantlyreducesaccountingmismatch.
2)agroupoffinancialliabilitiesoragroupoffinancialliabilitiesandfinancialassetsismanagedanditsperformanceisevaluatedonafairvaluebasis,andinformationaboutthegroupisreportedonthatbasistotheenterprise’skeymanagementpersonnelaccordingtosuchriskmanagementorinvestmentstrategysetoutinofficialwrittendocuments.
3)thisfinancialliabilitycontainsembeddedderivativesthatneedtobesplitseparately.
2.Recognitionandmeasurementoffinancialinstruments
(1)FinancialassetsmeasuredatamortizedcostThefinancialassetsmeasuredatamortizedcost,includingnotesreceivable,accountsreceivable,otherreceivables,long-termreceivablesanddebtinvestments,etc.,areinitiallymeasuredatfairvalue,andtherelevanttransactioncostsarechargedtotheinitiallyrecognizedamount;theaccountsreceivablethatdonotcontainanysignificantfinancingcomponentorarerecognizedbytheCompanywithouttakingintoconsiderationthesignificantfinancingcomponentsunderthecontractswithatermoflessthanoneyearareinitiallymeasuredatthecontractualtradingprice.Theinterestcalculatedusingtheeffectiveinterestmethodduringtheholdingperiodisrecognizedintheprofitorlossforthecurrentperiod.Onrecoveryordisposalofafinancialasset,thedifferencebetweentheproceedsandthecarryingamountofthefinancialassetisrecognizedinprofitorlossforthecurrentperiod.
(2)Financialassets(debtinstruments)atfairvaluethroughothercomprehensiveincome.Financialassets(debtinstruments)atfairvaluethroughothercomprehensiveincome,includingreceivablefinancingandotherdebtinvestments,areinitiallymeasuredatfairvalue,andtherelevanttransactioncostsarerecognizedininitiallyrecognizedamount.Thesefinancialassetsaresubsequentlymeasuredatfairvalue,changesinfairvalueotherthantheinterestcalculatedusingtheeffectiveinterestmethod,impairmentlossorgainandprofitorlossonexchangearerecognizedinothercomprehensiveincome.Onderecognition,thecumulativegainorlosspreviouslyincludedinothercomprehensiveincomeisremovedoutfromothercomprehensiveincomeandrecognizedinprofitorlossforthecurrentperiod.
(3)Financialassets(equityinstruments)atfairvaluethroughothercomprehensiveincomeFinancialassets(equityinstruments)atfairvaluethroughothercomprehensiveincome,
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includingotherequityinvestments,areinitiallymeasuredatfairvalue,andtherelevanttransactioncostsarerecognizedininitiallyrecognizedamount.Thesefinancialassetsaresubsequentlymeasuredatfairvalue,andchangesinfairvaluearerecognizedinothercomprehensiveincome.Thedividendsreceivedarerecognizedinprofitorlossforthecurrentperiod.Onderecognition,thecumulativegainorlosspreviouslyincludedinothercomprehensiveincomeisremovedoutfromothercomprehensiveincomeandincludedinretainedearnings.
(4)FinancialassetsatfairvaluethroughprofitorlossFinancialassetsatfairvaluethroughprofitorloss,includingheld-for-tradingfinancialassets,derivativefinancialassetsandothernon-currentfinancialassets,areinitiallymeasuredatfairvalue,andtherelevanttransactioncostsareincludedinprofitorlossforthecurrentperiod.Thesefinancialassetsaresubsequentlymeasuredatfairvalue,andchangesinfairvalueareincludedinprofitorlossforthecurrentperiod.
(5)FinancialliabilitiesatfairvaluethroughprofitorlossFinancialliabilitiesatfairvaluethroughprofitorloss,includingheld-for-tradingfinancialliabilitiesandderivativefinancialliabilities,areinitiallymeasuredatfairvalue,andtherelevanttransactioncostsarerecognizedinprofitorlossforthecurrentperiod.Thesefinancialliabilitiesaresubsequentlymeasuredatfairvalue,andchangesinfairvaluearerecognizedinprofitorlossforthecurrentperiod.Onderecognition,thedifferencebetweentheircarryingamountandtheconsiderationpaidisincludedinprofitorlossforthecurrentperiod.
(6)FinancialliabilitiesmeasuredattheamortizedcostThefinancialliabilitiesmeasuredattheamortizedcost,includingshort-termborrowings,notespayable,accountspayable,otherpayables,long-termborrowings,bondspayable,long-termpayables,areinitiallymeasuredatfairvalue,andtherelevanttransactioncostsarechargedtotheinitiallyrecognizedamount.Theinterestcalculatedusingtheeffectiveinterestmethodduringtheholdingperiodisrecognizedintheprofitorlossforthecurrentperiod.Onderecognition,thedifferencebetweentheconsiderationpaidandthecarryingamountofthesefinancialliabilitiesisrecognizedinprofitorlossforthecurrentperiod.
3.Derecognitionandtransferoffinancialassets
TheCompanyderecognizesafinancialassetwhenoneofthefollowingconditionsismet:
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-thecontractualrighttoreceivecashflowsfromthefinancialassetshasexpired;-thefinancialassethasbeentransferredandalltherisksandrewardsofownershipofthefinancialassetaresubstantiallytransferredtothetransferee;-thefinancialassethasbeentransfer,andtheCompanyneithertransferrednorretainedasubstantialportionofallrisksandrewardsincidentaltotheownershipofthefinancialasset,butdidnotretaincontroloverthefinancialasset.Whenafinancialassetistransferred,iftheCompanyretainssubstantiallyalltherisksandrewardsofownershipofafinancialasset,itdoesnotderecognizethefinancialasset.WhentheCompanydetermineswhetheratransferofafinancialassetsatisfiesthederecognizingcriteriaprescribedabove,itgivesweighttothesubstanceratherthanform.TheCompanydividesatransferofafinancialassetintoatransferofthefinancialassetinitsentiretyoratransferofapartofthefinancialasset.Foratransferofafinancialassetinitsentiretythatsatisfiesthederecognizingcriteria,thedifferencebetweenthefollowingtwoamountsisrecognizedinprofitorlossforthecurrentperiod:
(1)thecarryingamountofthefinancialassettransferred;and
(2)thesumoftheconsiderationreceivedfromthetransferand(ifthefinancialassettransferredisafinancialasset(debtinstrument)measuredatfairvaluethroughothercomprehensiveincome)anycumulativechangesinfairvaluethatwasoriginallyrecognizedinowners’equity.Ifapartofthetransferredfinancialassetqualifiesforderecognizing,thecarryingamountofthetransferredfinancialassetinitsentiretyisallocatedbetweenthepartthatcontinuestoberecognizedandthepartthatisderecognized,basedontherelativefairvaluesofthoseparts.Thedifferencebetweenthefollowingtwoamountsisrecognizedinprofitorlossforthecurrentperiod:
(1)thecarryingamountallocatedtothepartderecognized;and
(2)thesumoftheconsiderationreceivedforthepartderecognizedand(ifthefinancialassettransferredisafinancialasset(debtinstrument)measuredatfairvaluethroughothercomprehensiveincome)theamountofthepartderecognizedcorrespondingtothecumulativechangesinfairvaluethatwasoriginallyrecognizedinowner’sequity.Afinancialassetthatdoesnotqualifyforderecognitioncontinuestoberecognized,andtheconsiderationreceivedisrecognizedasafinancialliability.
4.Derecognitionoffinancialliabilities
Ifthepresentobligationsofafinancialliabilityaredischargedinpartorwhole,thefinancialliabilityoranypartthereofisdisrecognized;anagreementbetweentheCompanyandthecreditortoreplacetheexistingfinancialliabilitywithanewfinancialliabilitywithsubstantiallydifferenttermsisaccountedforasanextinguishmentoftheexistingfinancialliabilityandtherecognitionofanewfinancialliability.Asubstantialmodificationtothetermsofanexistingfinancialliabilityorapartthereofisaccountedforasanextinguishmentoftheexistingfinancialliabilityorapartthereof,and
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thefinancialliabilitywithmodifiedtermsisrecognizedasanewfinancialliabilityatthesametime.WhentheCompanyderecognizesafinancialliabilityorapartthereof,itrecognizesthedifferencebetweenthecarryingamountofthefinancialliabilityderecognizedandtheconsiderationpaid(includinganynon-cashassetstransferredornewfinancialliabilitiesassumed)inprofitorlossforthecurrentperiod.IftheCompanyrepurchasesapartofafinancialliability,itallocatesthecarryingamountofthefinancialliabilityinitsentiretybetweenthepartthatcontinuestoberecognizedandthepartthatisderecognizedbasedontherelativefairvaluesofthosepartsonthedateoftherepurchase.Thedifferencebetweenthecarryingamountofthefinancialliabilityderecognizedandtheconsiderationpaid(includinganynon-cashassetstransferredornewfinancialliabilitiesassumed)isrecognizedinprofitorlossfortheperiod.
5.Methodofdeterminationofthefairvalueoffinancialassetsandfinancialliabilities
Ifthereisanactivemarketforafinancialinstrument,thequotedpriceintheactivemarketisusedtoestablishthefairvalueofthefinancialinstrument.Ifthereisnoactivemarketforafinancialinstrument,avaluationtechniqueisusedtoestablishthefairvalueofthefinancialinstrument.Onvaluation,theCompanyadoptsthevaluationtechniquewhichappliestothecurrentcircumstancesandissupportedbysufficientdataavailableandotherinformation,selectstheinputvalueconsistentwiththecharacteristicsoftheassetorliabilityconsideredbythemarketparticipantsinthetransactionoftherelevantassetorliability,andprioritizesusingtherelevantobservableinputvalue.Theunobservableinputvaluecanbeusedonlywhentherelevantobservableinputvaluecannotbeobtainedorit’simpracticabletoobtaintherelevantobservableinputvalue.
6.Testandaccountingtreatmentofimpairmentoffinancialassets
TheCompanyestimatestheexpectedcreditlossesoffinancialassetsmeasuredatamortizedcostandfinancialassets(debtinstruments)atfairvaluethroughothercomprehensiveincomeonasingleorjointbasis.TheCompanycomprehensivelyconsidersreasonableandwell-foundedinformationaboutpastevents,currentconditions,andpredictionsoffutureeconomicconditionsaswellasthepossibilityofdefaulttocalculatetheprobability-weightedamountofthepresentvalueofthedifferencebetweencashflowsreceivablefromcontractsandcashflowsexpectedtoberecoveredandincludeitintheexpectedcreditloss.TheCompanyrecognizesalossallowanceequaltothelifetimeexpectedcreditlossesifthecreditriskhasincreasedsignificantlysinceinitialrecognition,ortotheexpectedcreditlosseswithinthenext12monthsifthecreditriskhasnotincreasedsignificantlysinceinitialrecognition.Theaddedorreversedlossreservesarisingtherefromarerecognizedinprofitorlossforthecurrentperiodasimpairmentlossesorgains.
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TheCompanycomparesthepossibilityofdefaultatthebalancesheetdatewiththepossibilityofdefaultuponinitialrecognition,todeterminetherelativechangeinthedefaultrisksoffinancialinstrumentduringtheexpectedlifetime,andassessdeterminewhetherthecreditriskofthefinancialinstrumentshasincreasedsignificantlysinceinitialrecognition.Ifafinancialinstrumentispastdueformorethan30days,theCompanyusuallybelievesthatcreditriskofthefinancialinstrumenthasincreasedsignificantly,unlessthereisclearevidencethatcreditriskofthefinancialinstrumenthasnotincreasedsignificantlysinceinitialrecognition.Ifafinancialinstrumenthaslowcreditriskonthebalancesheetdate,theCompanybelievesthatcreditriskofthefinancialinstrumenthasnotincreasedsignificantlysinceinitialrecognition.Ifthereisobjectiveevidenceindicatingthatafinancialassethasbeenimpairedforitscredit,theCompanymakesaprovisionforimpairmentofthefinancialassetonanindividualbasis.WithrespecttoaccountsreceivableandcontractassetsthatarisefromthetransactionsregulatedundertheAccountingStandardforBusinessEnterprisesNo.14—Revenue(2017),whethertoincludesignificantfinancingcomponents,theCompanyalwaysmeasuresitslossreservesbasedonanamountequaltotheexpectedcreditlossduringtheentirelifeofaccountsreceivable.Forleasereceivables,theCompanyalwaysmeasuresitslossreservesbasedonanamountequaltotheexpectedcreditlossduringtheentirelifeofthesereceivables.IftheCompanynolongerreasonablyexpectsthatthecontractualcashflowsofafinancialassetcanberecoveredinwholeorinpart,itdirectlyreducesthecarryingamountofsuchfinancialasset.
11.Notesreceivable
12.Accountsreceivable
13.Receivablefinancing
14.OtherreceivablesDeterminationandaccountingtreatmentofexpectedcreditlossesofotherreceivables
15.Inventories
1.Classificationandcostofinventories
Inventoriesareclassifiedinto:materialsintransit,rawmaterials,revolvingmaterials,goodsonhand,productsinprocess,goodssold,workinprocess-outsourced,etc.
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Inventoriesareinitiallymeasuredatcost.Costofinventoriescomprisesallcostsofpurchase,costsofconversionandotherexpendituresincurredinbringingtheinventoriestotheirpresentlocationandcondition.
2.Pricingmethodsofinventoriestransferredout
TheCompanydeliversinventoriesatthepricecalculatedusingtheweighted-averagesystemmonthlyinarrears.
3.DeterminationbasisofnetrealisablevalueofdifferenttypesofinventoriesAtthebalancesheetdate,inventoriesaremeasuredatthelowerofcostandnetrealisablevalue.Ifthecostofinventoriesishigherthanthenetrealisablevalue,aprovisionfordeclineinvalueofinventoriesismade.Netrealisablevalueistheestimatedsellingpriceintheordinarycourseofbusinesslesscostsexpectedtobeincurreduntilcompletionandtheestimatedcostsnecessarytomakethesaleandrelevanttaxes.Forfinishedproducts,goodsonhand,materialsavailableforsalesandothermerchandiseinventoriesavailableforsales,intheordinaryproductionandoperationprocess,theirrealisablenetvalueisdeterminedattheestimatedsellingpriceoftheseinventorieslesstheestimatedcostsnecessarytomakethesaleandrelevanttaxes;fortheinventoriesthatneedtobeprocessed,intheordinaryproductionandoperationprocess,theirrealisablenetvalueisdeterminedattheestimatedsellingpriceoffinishedproductslessthecoststobeincurreduntilcompletionandtheestimatedcostsnecessarytomakethesaleandrelevanttaxes.Thenetrealisablevalueofthequantityofinventoriesheldtosatisfysalesorservicecontractsisbasedonthecontractprice.Ifthequantityofinventoriesheldismorethanthequantityorderedinthesalescontracts,thenetrealisablevalueoftheexcessportionofinventoriesisbasedongeneralsellingprices.Aftertheprovisionfordeclineinvalueofinventoriesismade,ifthecircumstancesthatpreviouslycausedinventoriestobewrittendownbelowcostnolongerexistsothatthenetrealizablevalueishigherthanthecarryingamountofinventories,thereversalismadetotheextentoftheamountoriginallyprovidedforthedeclineinvalueofinventories.Theamountofthereversalisrecognizedinprofitorlossforthecurrentperiod.
4.Inventorysystemsforinventories
Aperpetualinventorysystemisadopted.
5.Amortizationoflow-valueconsumablesandpackingmaterials
(1)Thelow-valueconsumablesareamortizedusingimmediatewrite-offmethod.
(2)Thepackingmaterialsareamortizedusingimmediatewrite-offmethod.
16.Contractassets
1.Recognitionmethodsandstandardsofcontractassets
TheCompanypresentsthecontractassetsorliabilitiesinthebalancesheetbasedonthe
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relationshipbetweenperformanceobligationsandcustomerpayments.TheCompanypresentstherighttoreceivetheconsiderationforthegoodsorservicesthathavebeentransferredorofferedtocustomers(thatis,dependingonfactorsotherthanthepassageoftime)asthecontractassets.TheCompanyliststhecontractassetsandliabilitiesunderthesamecontractasnetamount.TheCompanyseparatelypresentsitsownedrighttounconditionally(thatis,onlydependingonthepassageoftime)receiveconsiderationfromcustomersastheaccountsreceivable.
2.Determinationandaccountingtreatmentofexpectedcreditlossesofcontractassets
DeterminationandaccountingtreatmentofexpectedcreditlossesofcontractassetsareseenintheNote“(X)VI.TestandAccountingMethodsofImpairmentofFinancialAssets”.
17.Contractcosts
AccountingpoliciesadoptedfromJanuary1,2020Contractcostsincludecontractperformancecostandcontractacquisitioncosts.ThecostincurredbytheCompanytoperformacontractisnotbegovernedbythestandardsoninventories,fixedassetsorintangibleassets,andifmeetingthefollowingcriteria,isrecognizedasanassetasthecontractperformancecost:
?suchcostisdirectlyrelatedtoanexistingorexpectedcontract.?SuchcostincreasesthetheCompany’sfutureresourcesforfulfillingitsperformanceobligations.?Suchcostisexpectedtoberecovered.IftheincrementalcostincurredbytheCompanytoobtainacontractisexpectedtoberecovered,itisrecognizedasanassetasthecostforcontractacquisition.TheCompanyamortizestheassetrelatedtothecontractcostonthesamebasisastherecognitionoftherevenueofthegoodsorservicesrelatedtotheasset;providedthatifthecostforcontractacquisitionisamortizedfornotmorethanoneyear,theCompanyincludesitintotheprofitorcostforthecurrentperiodinwhichitisincurred.Ifthecarryingamountoftheassetrelatedtothecontractcostishigherthanthedifferencebetweenthefollowingtwoamounts,thentheCompanymakesaprovisionforimpairmentoftheexcessandrecognizesitasanimpairmentlossfortheasset:
1.theremainingconsiderationexpectedtobeobtainedduetothetransferofthegoods;and
2.thecosttobeincurredduetothetransferoftherelevantgoodsorservices.
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Iftheimpairmentfactorsforpriorperiodshavechangedafterwardssothattheabovedifferenceishigherthanthecarryingamountoftheasset,thentheCompanyreversesaprovisionforimpairmentoriginallymadeandincludesitintheprofitorlossforthecurrentperiod,providedthatthecarryingamountafterreverseshouldnotexceedthecarryingamounttheassetwouldhavereachedonthedateofreversehadtheprovisionforimpairmentbeennotmade.
18.Held-for-saleassets
Theassetsofwhichcarryingamountisrecoveredmainlythroughsales(includingthroughexchangeofnon-monetaryassetswithcommercialsubstance)ratherthancontinuoususeofnon-currentassetsordisposalgroupsareclassifiedastheheld-for-saleassets.TheCompanyclassifiesthenon-currentassetsordisposalgroupswhichmeetallthefollowingconditionsastheheld-for-saleassets:
(1)theycanbesoldimmediatelyundercurrentconditionsaccordingtothepracticeofsalesofsuchassetsordisposalgroupsinsimilartransactions;and
(2)thesaleisverylikelytohappen,thatis,theCompanyhasmadearesolutiononasaleplanandobtainedaconfirmedpurchasecommitment,andsuchsaleisexpectedtobecompletedwithinoneyear.ThesalehasbeenapprovedbytherelevantauthorityorregulatorydepartmentoftheCompanyifitisrequiredtobesoapprovedbytherelevantprovisions.Forthenon-currentassets(excludingfinancialassets,deferredtaxassets,assetsformedbytheemployeebenefits)ordisposalgroupsclassifiedastheheld-for-saleassets,iftheircarryingamountishigherthanthefairvaluenetofsaleexpenses,thenthecarryingamountisreducedtothefairvaluenetofsaleexpenses.Thatreductioninamountisrecognizedasanimpairmentlossoftheassetsandchargedtoprofitorlossforthecurrentperiod.Aprovisionforimpairmentoftheheld-for-saleassetsisrecognizedaccordingly.
19.Debtinvestments
20.Otherdebtinvestments
21.Long-termreceivables
22.Long-termequityinvestments
1.JudgmentcriteriaofjointcontrolandsignificantinfluenceJointcontrolistheagreedsharingofcontroloveranarrangement,andtherelevantactivitiesofsucharrangementmustbedecidedupontheunanimousconsentofthepartiessharingcontrol.IftheCompanycanexercisejointcontrolovertheinvesteealongwithotherpartiestojointventuresandenjoyrightsovernetassetsoftheinvestee,theinvesteeisajointventureoftheCompany.
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Significantinfluenceisthepowertoparticipateinthefinancialandoperatingpolicydecisionsofaninvestee,butisnotcontrolorjointcontrolwithotherpartiesovertheestablishmentofthosepolicies.IftheCompanycanhavesignificantinfluenceovertheinvestee,theinvesteeisanassociateoftheCompany.
2.Determinationofinitialinvestmentcost
(1)Long-termequityinvestmentsformedbybusinesscombinationIncaseofalong-termequityinvestmentofasubsidiaryacquiredthroughabusinesscombinationinvolvingentitiesundercommoncontrol,theinitialinvestmentcostofthelong-termequityinvestmentistheCompany’sshareofthecarryingamountoftheowners’equityoftheabsorbedpartyintheconsolidatedfinancialstatementsoftheultimatecontrolleratthedateofcombination.Thedifferencebetweentheinitialinvestmentcostofthelong-termequityinvestmentandthecarryingamountoftheconsiderationpaidforthecombinationistreatedasanadjustmenttothecapitalreserve.Incasethecapitalreserveisnotsufficienttoabsorbthedifference,theremainingbalanceisadjustedagainsttheretainedearnings.WheretheCompanybecomescapabletoexercisecontroloveraninvesteeunderthecommoncontrolduetoadditionalinvestmentorotherreasons,thedifferencebetweentheinitialinvestmentcostofthelong-termequityinvestmentrecognizedinthelightofaboveprinciplesandthesumofthecarryingamountofthelong-termequityinvestmentpriortocombinationplusthecarryingamountofnewconsiderationpaidforfurtheracquisitionofsharesoncombinationdateisadjustedtotheequitypremium.Iftheequitypremiumisnotsufficienttoabsorbthedifference,anyexcessisadjustedagainstretainedearnings.Incaseofalongequityinvestmentacquiredthroughabusinesscombinationnotinvolvingenterprisesundercommoncontrol,theCompanyregardsthecostofcombinationdeterminedonthedateofacquisitionastheinitialinvestmentcostofthelong-termequityinvestment.IftheCompanybecomescapabletoexercisecontroloveraninvesteenotundercommoncontrolduetoadditionalinvestmentorotherreasons,theinitialinvestmentcostisthesumofthecarryingamountoftheequityinvestmentoriginallyheldandthenewinvestmentcost.
(2)Long-termequityinvestmentsobtainedthroughformsotherthanbusinesscombinationForalong-termequityinvestmentacquiredbypayingcash,theinitialinvestmentcostistheactualpurchaseprice.Foralong-termequityinvestmentacquiredbytheissueofequitysecurities,theinitialinvestmentcostisthefairvalueofequitysecuritiesissued.
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3.Subsequentmeasurementanddeterminationofprofitorloss
(1)Long-termequityinvestmentsaccountedforusingthecostmethodTheCompanyaccountsforthelong-termequityinvestmentsofthesubsidiariesusingthecostmethod,unlesstheseinvestmentsmeettheheld-for-saleconditions.Exceptforcashdividendsorprofitdistributionsdeclaredbutundistributedincludedinthepriceorconsiderationactuallypaidonacquisitionofinvestments,theCompanyrecognizesitscashdividendsorprofitdistributionsdeclaredbytheinvesteeasinvestmentincomeinthecurrentperiod.
(2)Long-termequityinvestmentsaccountedforusingtheequitymethodThelong-termequityinvestmentsofassociatesandjointventuresareaccountedforusingtheequitymethod.Wheretheinitialinvestmentcostofalong-termequityinvestmentexceedstheCompany’sinterestinthefairvaluesoftheinvestee’sidentifiablenetassetsattheacquisitiondate,noadjustmentismadetotheinitialinvestmentcostofthelong-termequityinvestment.WheretheinitialinvestmentcostislessthantheCompany’sinterestinthefairvaluesoftheinvestee’sidentifiablenetassetsattheacquisitiondate,thedifferenceischargedtoprofitorlossforthecurrentperiod,andthecostofthelong-termequityinvestmentisadjustedaccordingly.TheCompanyrespectivelyrecognizesitsshareofthenetprofitsorlossesandothercomprehensiveincomemadebytheinvesteeasinvestmentincomeorlossesandothercomprehensiveincome,andadjuststhecarryingamountofthelong-termequityinvestmentaccordingly.Thecarryingamountofthelong-termequityinvestmentisreducedbytheportionofanyprofitdistributionsorcashdividendsdeclaredbytheinvesteethatisattributedtotheCompany.TheCompanyadjuststhecarryingamountofthelong-termequityinvestmentforotherchangesinowner’sequityoftheinvesteeotherthannetprofitsorlosses,othercomprehensiveincomeandprofitdistributions(“changesinotherowners’equity”),andincludesthecorrespondingadjustmentinowner’sequity.TheCompanyrecognizesitsshareoftheinvestee’snetprofitsorothercomprehensiveincomeandchangesinotherowners’equityaftermakingappropriateadjustmentsbasedonthefairvalueoftheinvestee’sidentifiableassetsatthedateacquisitioninaccordancewithitsaccountingpoliciesandperiod.ForunrealizedprofitsorlossesresultingfromintragrouptransactionsbetweentheCompanyandassociatesorjointventures,theportionattributabletotheCompanyiseliminated,andbasedonthis,theinvestmentincomeisrecognized,unlesstheinvestedorsoldassetsconstitutethebusiness.TheimpairmentlossofassetsintheunrealizedlossesresultingfromintragrouptransactionsbetweentheCompanyandtheinvesteeisfully
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recognized.TheCompanydiscontinuesrecognizingitsshareofnetlossesoftheassociateorjointventureafterthecarryingamountofthelong-termequityinvestmenttogetherwithanylong-termintereststhatinsubstanceformpartoftheCompany’snetinvestmentintheassociateorjointventurearereducedtozero,excepttotheextentthattheCompanyhasincurredobligationstoassumeadditionallosses.Wheretheassociateorjointventuremakesnetprofitssubsequently,theCompanyresumesrecognizingitsshareofthoseprofitsonlyafteritsshareoftheprofitsequalstheshareoflossesnotrecognized.
(3)Disposaloflong-termequityinvestmentsOndisposalofalongtermequityinvestment,thedifferencebetweentheproceedsactuallyreceivedandthecarryingamountisrecognizedinprofitorlossforthecurrentperiod.If,onpartialdisposaloflong-termequityinvestmentsaccountedforusingtheequitymethod,theremainingequityisstillaccountedforusingtheequitymethod,theportionpreviouslyincludedinothercomprehensiveincomeisaccountedforonapro-ratabasis,withthesamebasisastherelevantassetsorliabilitiesdirectlydisposedofbytheinvestee,andchangesinotherowners’equityaretransferredtoprofitorlossforthecurrentperiodonapro-ratabasis.WhentheCompanylosesjointcontrolorsignificantinfluenceontheinvesteeduetodisposalofequityinvestmentsorotherreasons,theoriginalequityinvestmentincludedinothercomprehensiveincomeduetotheuseofequitymethodisaccountedforonsamebasisastherelevantassetsorliabilitiesdirectlydisposedofbytheinvesteewhentheequitymethoddiscontinues,andthechangesinotherowners’equityarefullytransferredtoprofitorlossforthecurrentperiodwhentheequitymethoddiscontinues.WheretheCompanylosescontrolovertheinvesteeduetodisposalofpartialequityinvestments,ifinpreparingseparatefinancialstatements,theCompanycanexercisejointcontrolorsignificantinfluenceontheinvesteebyvirtueofitsremainingequity,theremainingequityswitchestotheequitymethodforaccounting,andisadjustedasifitisaccountedforusingtheequitymethodsinceacquisition.Othercomprehensiveincomerecognizedpriortoacquisitionofthecontrolontheinvesteeiscarriedforwardproportionallyonthesamebasisastheinvestee’sdirectdisposalofrelatedassetsorliabilities,andchangesinotherowners’equityrecognizedusingtheequitymethodaretransferredtoprofitorlossforthecurrentperiodonapro-ratabasis;iftheCompanycannotexercisejointcontrolorsignificantinfluenceontheinvesteebyvirtueofitsremainingequity,theremainingequityisrecognizedasfinancialassets,andthedifferencebetweenthefairvalueandthecarryingamountonthedatewhentheCompanylosescontrolisrecognizedinprofitorlossforthecurrentperiod,andothercomprehensiveincomeandchangesinotherowners’equityrecognizedpriortoacquisitionofthecontrolontheinvesteearefullycarriedforward.
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Wherealltransactionsfromdisposalofequityinvestmentsinasubsidiarythroughmultipletransactionsbystepsuntilthelossofcontrolbelongtoasinglepackage,theCompanyshallaccountsforeachtransactionasadisposalofequityinvestmentsinasubsidiaryandthelossofcontrol;however,thedifferencebetweentheproceedsfromeachdisposalbeforelossofcontrolandthecarryingamountofthelong-termequityinvestmentscorrespondingtotheequitydisposedofisfirstrecognizedinothercomprehensiveincomeinseparatefinancialstatementsandthentransferredtotheprofitorlossintheperiodinwhichthecontrolislost.Wherealltransactionsdoesnotbelongtoasinglepackage,theCompanyaccountsforeachtransactionrespectively.
23.Investmentproperties
MeasurementofinvestmentpropertiesMeasuredatcostDepreciationoramortizationmethods
TheCompany’sinvestmentpropertyispropertyheldtoearnrentalsorforcapitalappreciationorboth,includinglanduserightsthathavebeenleasedout,landuserightsthatareheldandreadtobetransferredafterappreciation,andbuildingsthathavebeenleasedout(includingthosethatareavailableforletafterbeingbuiltbytheCompanyitselforcompletionofdevelopmentactivities,andarebeingbuiltorinprogressforletinthefuture).TheCompanymeasurestheexistinginvestmentpropertiesusingthecostmodel.SubsequentcostsincurredforaninvestmentpropertyareincludedinthecostoftheinvestmentpropertywhenitisprobablethattheassociatedeconomicbenefitswillflowtotheCompanyandthecostoftheassetcanbemeasuredreliably.Subsequentcoststhatfailtomeettherecognitioncriteriaabovearerecognizedinprofitorlossintheperiodinwhichtheyareincurred.Forinvestmentpropertiesmeasuredusingcostmodelformeasurement-thebuildingsavailableforletfollowsthesamedepreciationpoliciesasthoseoftheCompany’sfixedassets,andlanduserightsavailableforletfollowthesameamortizationpoliciesasthoseofintangibleassets.
24.Fixedassets
(1)RecognitionoffixedassetsFixedassetsareheldforuseintheproductionorsupplyofgoodsorservices,forrentaltoothers,orforadministrativepurposes,andhaveusefullivesmorethanoneaccountingyear.Anfixedassetisrecognizedonlywhenbothofthefollowingconditionsaremet:(1)itisprobablethateconomicbenefitsassociatedwiththefixedassetwillflowtotheenterprise;and(2)thecostoffixedassetscanbemeasuredreliably.AfixedassetoftheCompanyisinitiallymeasuredatitscost,andindeterminingthecostofafixedasset,theCompanyconsiderstheeffectofanyexpectedcostsofabandoningtheassetattheendofitsuse.SubsequentexpendituresincurredforafixedassetareincludedinthecostofthefixedassetwhenitisprobablethattheassociatedeconomicbenefitswillflowtotheCompanyandthecostoftheassetcan
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bemeasuredreliably;thecarryingamountoftheparttobereplacedisderecognized;allofothersubsequentexpendituresarerecognizedinprofitorlossintheperiodinwhichtheyareincurred.
(2)MethodofDepreciation
Category | Methodofdepreciation | Estimatedusefullife(years) | Residualvaluerate | Annualdepreciationrate(%) |
Buildings | Straight-linemethod | 20 | 10 | 4.50 |
Machineryequipment | Straight-linemethod | 5-10 | 10 | 9-18 |
Auxiliaryproductionequipment | Straight-linemethod | 5-10 | 10 | 9-18 |
Transportationequipment | Straight-linemethod | 5 | 10 | 18 |
Mouldequipment | Straight-linemethod | 3 | 10 | 30 |
Officeequipment | Straight-linemethod | 3-5 | 10 | 18-30 |
Computerequipment | Straight-linemethod | 3-5 | 10 | 18-30 |
Otherequipment | Straight-linemethod | 5 | 10 | 18 |
TheCompanyprovidesfordepreciationoffixedassetsbycategoryusingthestraight-linemethod,anddeterminesthedepreciationrateonthecategory,estimatedusefullifeandestimatednetresidualvalueoffixedassets.Forfixedassetswiththeprovisionforimpairment,thedepreciationamountwillbedeterminedinthefuturebasedonthecarryingamountafterdeductionoftheprovisionforimpairmentandremainingusefullife.Whereindividualcomponentpartsofanitemoffixedassethavedifferentusefullivesorprovidebenefitstotheenterpriseindifferentmannersthusnecessitatinguseofdifferentdepreciationratesormethods,thedepreciationofthefixedassetisrespectivelyprovided.TheCompanyadoptsadepreciationpolicyforthefixedassetsleasedinunderfinancingleaseswhichisconsistentwiththatforitsownedfixedassets.Ifthereisreasonablecertaintythatthelesseewillobtainownershipoftheleasedasset,theleasedassetisdepreciatedoveritsusefullife;ifthereisnoreasonablecertaintythatthelesseewillobtainownershipoftheleasedassetbytheendoftheleaseterm,theleasedassetisdepreciatedovertheshorteroftheleasetermanditsusefullife.Depreciationmethods,periods,residualvaluerateandannualdepreciationratesoffixesassetsareasfollows:
(3)Identificationbasis,pricinganddepreciationmethodsoffixedassetsleasedinunderfinancingleasesIftheclausesoftheleaseagreementmadeandenteredintobyandbetweentheCompanyandthelessorstipulateoneofthefollowingconditions,therelevantassetwillberecognizedastheassetleasedinunderfinancinglease:(1)theownershipoftheleasedassetbelongstotheCompanyaftertheleasetermexpires;
(2)theCompanyhastheoptiontopurchasetheassetatthepricemuchlowerthanthefairvalueoftheassetatthetimeofexerciseofoption;(3)theleasetermisforthemajorpartoftheusefullifeofthe
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leasedasset;(4)thepresentvalueoftheminimumleasepaymentattheinceptionoftheleaseisnotsignificantlydifferentfromthefairvalueoftheasset;or(5)theleasedassetisofaspecializednaturesuchthatonlythelesseecanusethemwithoutmajormodificationsbeingmade.Attheinceptionofthelease,theCompanyrecordstheleasedassetatanamountequaltothelowerofthefairvalueoftheleasedassetandthepresentvalueoftheminimumleasepayments,andrecognizesalong-termpayableatanamountequaltotheminimumleasepayments.Thedifferencebetweentherecordedamountoftheleasedassetandtherecordedamountofthepayableisaccountedforasunrecognizedfinancecharge.
(4)Disposaloffixedassets
Afixedassetisderecognizedwhenitisdisposedorwhennofutureeconomicbenefitsareexpectedtobegeneratedfromitsuseordisposal.Whenafixedassetissold,transferred,retiredordamaged,theCompanyrecognizestheamountofanyproceedsondisposalnetofthecarryingamountandrelatedtaxesandfeeinprofitorlossforthecurrentperiod.
25.Constructioninprogress
Aconstructioninprogressismeasuredattheactualcostincurred.Actualcostincludesconstructionandinstallationfees,qualifyingborrowingcostsandothernecessaryexpensesnecessarilyincurredforbringingtheassettoworkingconditionforitsintendeduse.TheconstructioninprogressistransferredtofixedassetswhenmeetingworkingconditionsforitsintendeduseandtheCompanybeginstomakeprovisionfromnextmonth.
26.Borrowingcosts
1.RecognitionofcapitalizationofborrowingcostsBorrowingcostsincurredbytheCompanythataredirectlyattributabletotheacquisition,constructionorproductionofaqualifyingassetarecapitalizedaspartofthecostoftherelevantasset.Theamountsofotherborrowingcostsincurredarerecognizedasanexpenseintheperiodinwhichtheyareincurred.Qualifyingassetsareassets(fixedassets,investmentproperty,inventories,etc.)thatnecessarilytakeasubstantialperiodoftimeforacquisition,constructionorproductiontogetreadyfortheirintendeduseorsale.
2.CapitalizationperiodofborrowingcostsCapitalizationperiodistheperiodfromthedateofcommencementofcapitalizationofborrowingcoststothedateofcessationofcapitalization,excludinganyperiodoverwhichcapitalizationissuspended.Thecapitalizationofborrowingcostscancommenceonlywhenallofthefollowingconditionsaresatisfied:
(1)expendituresfortheassetarebeingincurred,andsuchexpendituresincludethoseexpendituresincurredfortheacquisition,constructionorproductionofthequalifying
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assetthathaveresultedinpaymentsofcash,transferofnon-cashassets,ortheassumptionofinterest-bearingliabilities;
(2)borrowingcostsarebeingincurred;and
(3)activitiesrelatingtotheacquisition,constructionorproductionoftheassetthatarenecessarytopreparetheassetforitsintendeduseorsalehavecommenced.Whenthequalifyingassetbeingacquired,constructedorproducedhasbecomereadyforitsintendeduseorsale,thecapitalizationceases.
3.Periodoverwhichcapitalizationissuspended
Capitalizationofborrowingcostsissuspendedduringperiodsinwhichtheacquisition,constructionorproductionofaqualifyingassetisinterruptedabnormally,whentheinterruptionisforacontinuousperiodofmorethan3months.However,capitalizationofborrowingcostscontinueswhentheinterruptionisanecessarypartoftheprocessofpreparingthatassetforitsintendeduseorsale.Theborrowingcostsincurredduringtheseperiodsofinterruptionarerecognizedasanexpenseforthecurrentperiod,andthecapitalizationofborrowingcostscontinuesuntiltheacquisition,constructionorproductionofthatassetisresumed.
4.CalculationmethodsofrateandamountofcapitalizationofborrowingcostsWherefundsareborrowedunderaspecific-purposeborrowingfortheacquisition,constructionorproductionofaqualifyingasset,theamountofborrowingcoststobecapitalizedistheactualborrowingcostsincurredforthecurrentperiodlessanybankinterestearnedfromdepositingtheborrowedfundsbeforebeingusedontheassetoranyinvestmentincomeonthetemporaryinvestmentofthosefunds.Wherefundsareborrowedundergeneral-purposeborrowingsandareutilizedfortheacquisition,constructionorproductionofaqualifyingasset,theCompanydeterminestheamountofborrowingcoststobecapitalizedonsuchborrowingsbymultiplyingacapitalizationrateoftheutilizedgeneral-purposeborrowingsbytheweightedaverageoftheexcessamountsofcumulativeexpendituresontheassetoverandabovetheamountsofspecific-purposeborrowings.Thecapitalizationrateistheweightedaverageoftheactualinterestratesapplicabletothegeneral-purposeborrowings.Duringthecapitalizationperiod,exchangedifferencesrelatedtotheprincipalandinterestonaspecific-purposeborrowingdenominatedinforeigncurrencyarecapitalizedaspartofthecostofthequalifyingasset.Theexchangedifferencesarisingfromforeigncurrencyborrowingsandinterestthereonotherthanspecific-purposeborrowingsdenominatedinforeigncurrencyarerecognizedinprofitorlossforthecurrentperiod.
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27.Biologicalassets
28.Oilandgasassets
29.Useofrightassets
30.Intangibleassets
(1)Pricingmethods,usefullivesandimpairmenttests
1.Pricingmethodsofintangibleassets
(1)TheCompanyinitiallymeasuresanintangibleassetatcostofacquisition;Thecostofaseparatelyacquiredintangibleassetcomprisesitspurchaseprice,relatedtaxesandanydirectlyattributableexpenditureforpreparingtheassetforitsintendeduse.
(2)SubsequentmeasurementTheCompanyanalyzesandassessestheusefullifeofanintangibleassetonitsacquisition.Afinite-livedintangibleassetisamortizedduringtheperiodoverwhichtheassetgenerateseconomicbenefitsfortheenterprise;anintangibleassetisregardedashavinganindefiniteusefullifewhenthereisnoforeseeablelimittotheperiodoverwhichtheassetisexpectedtogenerateeconomicbenefitsfortheenterprise,andisnotbeamortized.
2.Estimatedusefullivesoffinite-livedintangibleassets
Item | Estimatedusefullife | Amortizationmethods | Residualvaluerate | Basis |
Software | 5-10 | straight-line | None | Estimatedperiodofbenefit |
Landuserights | 50 | straight-line | None | Certificateoflanduserights |
Patentrights | 10 | straight-line | None | Rightterm |
Nonpatentedtechnology | 10 | straight-line | None | Estimatedperiodofbenefit |
3.Basisforjudgementofanintangibleassetwithindefiniteusefullifeandproceduresfor
reviewofusefullifeTheCompanyreviewstheusefullifeoftheindefiniteintangibleassetsattheendofeachperiod.Uponreview,theusefullifeofintangibleassetsisstillindefinite.
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(2)Accountingpoliciesforinternalresearchanddevelopmentexpenditure
1.SpecificcriteriaforaninternalresearchanddevelopmentprojectthatareclassifiedintotheresearchphaseandthedevelopmentphaseExpenditureonaninternalresearchanddevelopmentprojectisclassifiedintoexpenditureontheresearchphaseandexpenditureonthedevelopmentphase.Researchphase:isthestageoforiginalandplannedinvestigationandactivityundertakenwiththeprospectofgainingnewscientificortechnicalknowledgeandunderstanding.Developmentphase:isthestageoftheapplicationofresearchfindingsorotherknowledgetoaplanordesignfortheproductionofneworsubstantiallyimprovedmaterials,devicesorproductsetc.beforethestartofcommercialproductionoruse.
2.Specificcriteriaofexpenditureonthedevelopmentphasequalifyingforcapitalization
Expenditureontheresearchphaseisrecognizedinprofitorlossfortheperiodinwhichitisincurred.ExpenditureonthedevelopmentphaseisrecognizedasanintangibleassetonlywhentheCompanydemonstratesallofthefollowing;otherwise,itisrecognizedinprofitorlossforthecurrentperiod:
(1)thetechnicalfeasibilityofcompletingtheintangibleassetsothatitwillbeavailableforuseorsale;
(2)theintentiontocompletetheintangibleassetanduseorsellit;
(3)howtheintangibleassetwillgenerateeconomicbenefits.Amongotherthings,theCompanycandemonstratetheexistenceofamarketfortheoutputoftheintangibleassetortheintangibleassetitselfor,ifitistobeusedinternally,theusefulnessoftheintangibleasset;
(4)theavailabilityofadequatetechnical,financialandotherresourcestocompletethedevelopmentandtheabilitytouseorselltheintangibleasset;and
(5)itsabilitytomeasurereliablytheexpenditureattributabletotheintangibleassetduringitsdevelopmentphase.IftheCompanyfailstodiscriminatebetweenexpenditureontheresearchphaseandexpenditureonthedevelopmentphase,allexpendituresonresearchanddevelopmentarerecognizedintheprofitforthecurrentperiod.
31.Impairmentoflong-termassets
Whereanyindicationexiststhatlong-termequityinvestments,investmentpropertiesmeasuredatthecostmodel,fixedassets,constructioninprogress,intangibleassetswithfiniteusefullifeandotherlong-termassetsmaybeimpairedatthebalancesheetdate,theCompanyperformsanimpairmenttestthereon.Theresultoftheimpairmenttestshowsthattherecoverableamountofanassetislowerthanitscarryingamount,thedifferenceismadetheprovisionforimpairmentandincludedintheimpairmentloss.Therecoverableamountofanassetisthehigherofitsfairvaluelesscoststosellandthepresentvalueofthefuturecashflowsexpectedtobederivedfrom
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theasset.Theprovisionforimpairmentofassetsiscalculatedandrecognizedforanindividualasset,andifitisnotpossibletoestimatetherecoverableamountoftheindividualasset,theCompanydeterminestherecoverableamountoftheassetgrouptowhichtheassetbelongs.Anassetgroupisthesmallestidentifiablegroupofassetsthatgeneratescashinflows.Goodwill,indefinite-livedintangibleassetsandintangibleassetswhichdonotmeettheworkingconditionsforitsusearetestedforimpairmentatleastattheendofeachyear,irrespectiveofwhetherthereisanyindicationthattheassetmaybeimpaired.ForthepurposeofimpairmenttestingoftheCompany,thecarryingamountofgoodwillgeneratedinabusinesscombinationis,fromtheacquisitiondate,allocatedonareasonablebasistoeachoftherelatedassetgroups.Ifitisnotpossibletoallocatetotherelatedassetgroups,itisallocatedtoeachoftherelatedsetsofassetgroups.Eachoftherelatedassetgroupsorsetsofassetgroupsshallbeanassetgrouporsetofassetgroupthatisabletobenefitfromthesynergiesofthebusinesscombination.Intestinganassetgrouporasetofassetgroupstowhichgoodwillhasbeenallocatedforimpairment,theremaybeanindicationthatarelatedassetgrouporsetofassetgroupsmaybeimpaired.Insuchcircumstances,theCompanyfirstlyteststheassetgrouporthesetofassetgroupsexcludingtheamountofgoodwillallocatedforimpairment,calculatesitsrecoverableamount,comparesanimpairmentlossrecoverableamountwiththerelatedcarryingamountandrecognizesanyimpairmentloss.Then,theCompanyteststheassetgrouporasetofassetgroupstowhichgoodwillhasbeenallocatedforimpairmentandcomparesitscarryingamountandrecoverableamount.Whentherecoverableamountislessthanitscarryingamount,theamountofimpairmentlossfirstreducesthecarryingamountofanygoodwillallocatedtotheassetgrouporsetofassetgroups,andthenreducesthecarryingamountofotherassets(otherthangoodwill)withintheassetgrouporsetofassetgroups,prorataonthebasisofthecarryingamountofeachasset.Onceanimpairmentlossontheassetaboveisrecognized,itwillnotbereversedinasubsequentperiod.
32.Long-termprepaidexpenses
Long-termprepaidexpensesmeanthosewhichhavebeenincurredbutshouldbeamortizedinthecurrentperiodandthesubsequentperiodsofmorethanoneyear.Theamortizationperiodandmethodsofexpensesareshownasfollows:
Item | Amortizationmethods | Amortizationperiod |
Decorationfees | straight-line | Periodofbenefit |
Others | straight-line | Periodofbenefit |
33.Contractliabilities
AccountingpoliciesadoptedfromJanuary1,2020
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TheCompanypresentsthecontractassetsorliabilitiesinthebalancesheetbasedontherelationshipbetweenperformanceobligationsandcustomerpayments.TheCompanypresentstheobligationstotransfergoodsorofferservicestocustomersastheconsiderationreceivedorreceivablefromcustomersthecontractliabilities.TheCompanyliststhecontractassetsandliabilitiesunderthesamecontractasnetamount.
34.Employeebenefits
(1)Accountingtreatmentofshort-termbenefits
TheCompanyrecognizestheshort-termbenefitsactuallyincurredduringtheaccountingperiodwhentheemployeesservetheCompanyasliabilities,andincludesameaspartofthecostofrelatedassetsorinprofitorlossforthecurrentperiod.TheemployeebenefitscorrespondingtopaymentsofsocialsecuritycontributionsandhousingfundsforemployeesbytheCompanyandtheappropriationtolaborunionfundsandemployeeeducationfeesaredeterminedonsuchprovisionbasisandatsuchprovisionrateasstipulatedduringtheperiodwhentheemployeesprovideservicesfortheCompany.ThestaffwelfareincurredbytheCompanyisstatedastheamountactuallyincurredandrecordedintoprofitorlossorcostofrelatedassetsintheperiodinwhichtheyareactuallyincurred;non-monetarybenefitsaremeasuredatfairvalue.
(2)Accountingtreatmentofpost-employmentbenefits
(1)DefinedcontributionplansTheCompanypaysbasicendowmentinsuranceandunemploymentinsuranceforemployeespursuanttotherelevantregulationsofthelocalgovernment.Theamountspayabletherefor,duringtheaccountingperiodwhentheemployeesservetheCompany,arecalculatedaccordingtothepaymentbaseandproportionstipulatedbythelocalregulations,whicharerecognizedinprofitorlossforthecurrentperiodorthecostofrelatedassetsasliabilities.TheCompanypaysacertainproportionofthetotalwagesofanemployeetotheannuityplan/localsocialinsuranceinstitution,andthecorrespondingexpensesarerecognizedinprofitorlossforthecurrentperiodorthecostofrelatedassets.
(2)DefinedbenefitplansTheCompany,accordingtotheformuladeterminedbytheexpectedcumulativebenefitunitmethod,attributesthebenefitobligationsarisingfromthedefinedbenefitplantotheserviceperiodoftheemployees,andrecognizesthemintheprofitorlossforthecurrentperiodorthecostofrelatedassets.Thedeficitorsurplusformedbythepresentvalueofobligationsinthedefinedbenefit
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planminusthefairvalueofassetsthereinisrecognizedasthenetliabilitiesornetassetsofthedefinedbenefitplan.Ifthedefinedbenefitplanhassurplus,theCompanymeasuresthenetassetsofthedefinedbenefitplanaccordingtothelowerofthesurplusandtheupperlimitofassetsinthedefinedbenefitplan.Allobligationsinthedefinedbenefitplan,includingobligationsexpectedtobepaidwithin12monthsaftertheendoftheannualreportingperiodforemployeeservices,arediscountedbasedonthemarketyieldoftreasurybondsorhigh-qualitycorporatebondsinactivemarketsthatmatchthetermandcurrencyoftheobligationsinthedefinedbenefitplanonthebalancesheetdate.Theservicecostgeneratedbythedefinedbenefitplanandthenetinterestofthenetliabilitiesornetassetsofthedefinedbenefitplanarerecognizedintheprofitorlossforthecurrentperiodorthecostofrelatedassets;changesarisingfromthere-measurementofnetliabilitiesornetassetsofthedefinedbenefitplanareincludedinothercomprehensiveincomes,andarenotbeconvertedbacktoprofitorlossinsubsequentaccountingperiods.Attheendoftheoriginaldefinedbenefitplan,thepartoriginallyincludedinothercomprehensiveincomesisfullycarriedforwardtounappropriatedprofitwithinthescopeofequity.Inthesettlementofthedefinedbenefitplan,thegainorlossofsettlementisrecognizedaccordingtothedifferencebetweenthepresentvalueoftheobligationsinthedefinedbenefitplanandthesettlementpricedeterminedonthesettlementdate.
(3)Accountingtreatmentofterminationbenefits
TheCompanyrecognizestheemploymentcompensationliabilitiesgeneratedbyterminationbenefitsandrecordsthemintotheprofitorlossforthecurrentperiodontheearlierof:whentheCompanycannotunilaterallywithdrawtheseverancebenefitsprovidedasaresultofthelaborrelationshipterminationplanorlayoffproposal,orwhenitrecognizesthecostsorexpensesrelatedtotherestructuringoftheseverancebenefitspayment,
(4)Accountingtreatmentofotherlong-termemployeebenefits
35.Leaseliabilities
36.Provisions
TheCompanyrecognizesanobligationrelatedtoacontingencyaprovisionwhenallofthefollowingconditionsaresatisfied:
(1)theobligationisapresentobligationoftheCompany;
(2)itisprobablethatanoutflowofeconomicbenefitsfromtheCompanywillberequiredtosettletheobligation;and
(3)theamountoftheobligationcanbemeasuredreliably.
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Provisionsareinitiallymeasuredatthebestestimateoftheexpenditurerequiredtosettletherelatedpresentobligation.Factorspertainingtoacontingencysuchastherisks,uncertaintiesandtimevalueofmoneyaretakenintoaccountasawholewhentheCompanyreachesthebestestimate.Wheretheeffectofthetimevalueofmoneyismaterial,thebestestimateisdeterminedbydiscountingtherelatedfuturecashoutflows.Wherethereisacontinuousrangeof[possibleoutcomesfor]theexpenditurerequired,andeachpossibleoutcomeinthatrangeisaslikelyasanyother,thebestestimateisthemid-pointofthatrange.Underanyothercircumstances,thebestestimateisaccountedforasfollows:
?wherethecontingencyinvolvesasingleitem,thebestestimateisthemostlikelyoutcome.?wherethecontingencyinvolvesalargepopulationofitems,thebestestimateisdeterminedbyweightingallpossibleoutcomesbytheirassociatedprobabilities.Whereallorsomeoftheexpenditurerequiredtosettleanestimatedliabilityisexpectedtobereimbursedbyathirdparty,thereimbursementisrecognizedasaseparateassetwhenitisvirtuallycertainthatreimbursementwillbereceived.Theamountrecognizedforthereimbursementdoesnotexceedthecarryingamountoftheestimatedliability.TheCompanyreviewsthecarryingamountofaprovisionatthebalancesheetdate.Wherethereisclearevidencethatthecarryingamountofaprovisiondoesnotreflectthecurrentbestestimate,thecarryingamountisadjustedtothecurrentbestestimate.
37.Share-basedpayment
Ashare-basedpaymentoftheCompanyisatransactioninwhichtheCompanygrantsequityinstruments,orincursliabilitiesforamountsthataredeterminedbasedonthepriceofequityinstruments,inreturnforservicesrenderedbyemployeesorotherparties.Ashare-basedpaymentoftheCompanyisclassifiedaseitheranequity-settledshare-basedpaymentoracash-settledshare-basedpayment.
1.Equity-settledshare-basedpaymentandequityinstruments
Anequity-settledshare-basedpaymentinexchangeforservicesreceivedfromtheemployeesismeasuredatthefairvalueofequityinstrumentsgrantedtotheemployees.Iftherightundertheshare-basedpaymentvestsimmediatelyfollowingthegrant,theCompany,ongrantdate,recognizesrelatedcostsorexpensesatanamountequaltothefairvalueoftheequityinstruments,withacorrespondingincreaseincapitalreserve.Iftherightsunderashare-basedpaymentdonotvestuntilthecompletionofservicesforavestingperiod,oruntiltheachievementofaspecifiedperformancecondition,ateachbalancesheetdateduringthevestingperiod,theCompanymakesthebestestimateofthe
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numberofequityinstrumentsexpectedtovest,andbasedonthis,recognizestheservicesreceivedinthecurrentperiodintherelatedcostsorexpensesatanamountequaltothefairvalueonthegrantdate,withacorrespondingincreaseincapitalreserve.Ifthetermsofequity-settledshare-basedpaymentaremodified,theservicesreceivedarerecognizedatleastpursuanttotheunmodifiedterms.Inaddition,anymodificationsthatincreasethefairvalueoftheequityinstruments,orchangesthatarebeneficialtoemployeesonthemodificationdatearerecognizedasanincreaseinservices.Ifthegrantedequityinstrumentiscancelledwithinthevestingperiod,theCompanytreatsthecancellationofequityinstrumentgrantedastheacceleratedexercise,andtheamounttoberecognizedduringtheremainingvestingperiodisimmediatelychargedtoprofitorlossforthecurrentperiod,andthecapitalreserveisrecognizedatthesametime.However,ifanewequityinstrumentisgranted,andonthegrantdatethereof,isdeemedtoreplacethecancelledequityinstrument,thenthesubstituteequityinstrumentgrantisaccountedforpursuanttothetermsandconditionsforaccountingfororiginalequityinstrument.
2.Cash-settledshare-basedPaymentandequityinstrumentsAcash-settledshare-basedpaymentismeasuredatthefairvalueoftheliabilityincurred,beingaliabilitywhichisdeterminedbasedonthepriceoftheCompany’ssharesorotherequityinstruments.Iftherightundertheshare-basedpaymentvestsimmediatelyfollowingthegrant,theCompany,ongrantdate,recognizesrelatedcostsorexpensesatanamountequaltothefairvalueoftheliabilitiesassumedwithacorrespondingincreaseinliabilities.Iftherightsunderashare-basedpaymentdonotvestuntilthecompletionofservicesforavestingperiod,oruntiltheachievementofaspecifiedperformancecondition,ateachbalancesheetdateduringthevestingperiod,theCompanymakesthebestestimateofthenumberofequityinstrumentsexpectedtovest,andbasedonthis,recognizestheservicesreceivedinthecurrentperiodintherelatedcostsorexpensesatanamountequaltothefairvalueoftheliabilitiesassumedbytheCompany,andincludesameintheliabilitiesaccordingly.Untiltheliabilityissettled,theCompanyremeasuresthefairvalueoftheliabilityateachbalancesheetdateandatthedateofsettlement,withchangesrecognizedinprofitorlossforthecurrentperiod.
38.Preferredshares,perpetualbondsandothersfinancialinstruments
39.RevenueTheaccountingpoliciesadoptedfortherecognitionandmeasurementofrevenue
AccountingpoliciesadoptedfromJanuary1,2020
1.Theaccountingpoliciesadoptedfortherecognitionandmeasurementofrevenue
TherevenueisrecognizedatthetimewhentheCompanyhasdischargedtheperformanceobligationsinthecontract,thatis,whenthecustomerobtainsthecontroloftherelatedgoodsorservices.Obtainmentofthecontroloftherelatedgoodsorservicesmeanstheabilitytodirecttheuseofsuchgoodsandservicesandobtainsubstantiallyallofeconomic
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benefitsfromthem.Ifthecontracthastwoormultipleperformanceobligations,theCompanyallocatesthetransactionpricetoeachindividualperformanceobligationontheinceptionofthecontractbyreferencetorelativestandalonesellingpricesofgoodsorservicespromisedthereby.TheCompanymeasuresrevenuebasedonthetransactionpriceallocatedtoeachindividualperformanceobligation.ThetransactionpriceistheamountofconsiderationtowhichtheCompanyisentitledarisingfromthetransferofgoodsorservicestothecustomer,excludingtheamountcollectedonbehalfofathirdpartyandexpectedtobereturnedtothecustomer.TheCompanydeterminesthetransactionpricewithreferencetothecontracttermsandinconjunctionwithpastcustomarypractices,andindoingso,considersvariableconsiderationandsignificantfinancingcomponents,non-cashconsideration,considerationpayabletocustomersandotherfactors.TheCompanydeterminesthetransactionpriceincludingvariableconsiderationtotheextentthat,itishighlyprobablethatitsinclusionwillnotresultinasignificantrevenuereversalofaccumulativelyrecognizedrevenueinthefuturewhentheuncertaintyhasbeensubsequentlyresolved.Ifthereisasignificantfinancingcomponentinthecontract,theCompanydeterminesthetransactionpricebasedonthepresumedamountpayableincashwhenthecustomerobtainsthecontrolofgoodsorservices,andamortizesthedifferencesbetweenthetransactionpriceandthecontractconsiderationusingtheactualinterestmethodwithinthetermofthecontract.Whenmeetingoneofthefollowingcriteria,itbelongstotheobligationperformedovertime,otherwiseitconstitutestheobligationperformedatapointintime:
?thecustomerobtainsandconsumestheeconomicbenefitsgeneratedbytheCompany’sperformancewhentheCompanyperformsthecontract.?thecustomercancontroltheproductsinprogressintheperformanceofthecontractbytheCompany.?theproductsproducedintheprocessoftheCompany’sperformancehaveirresplaceableuses,andtheCompanyhastherighttocollectpaymentforthecumulativeperformancethathasbeencompleteduptodatethroughoutthetermofthecontract.Fortheobligationperformedovertime,theCompanyrecognizestherevenuebasedontheperformanceprogressovertime,unlesstheperformanceprogresscannotbereasonablydetermined.TheCompanydeterminestheprogressofperformanceobligationbytakingthenatureofgoodsorservicesandusingtheoutput/inputmethod.Whentheperformanceprogresscannotbereasonablydetermined,andthecostsincurredareexpectedtoberecoverable,theCompanyrecognizesrevenuetotheextentofcostsincurreduntiltheperformanceprogresscanbereasonablydetermined.
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Fortheobligationperformedatapointintime,theCompanyrecognizestherevenueatthepointintimewhenthecustomerobtainsthecontroloftherelatedgoodsandservices.Whenjudgingwhetherthecustomerhasobtainedthecontrolofgoods,theCompanyconsidersthefollowingssigns:
?theCompanyhasthecurrentrighttoreceivepaymentforsuchgoodsorservices,thatis,thecustomerhasthecurrentobligationtomakepaymentforsuchgoodsorservices;?theCompanyhastransferredthelegalownershipofsuchgoodstothecustomer,thatis,thecustomerhasthelegalownershipofsuchgoods;?theCompanyhastransferredsuchgoodstothecustomerphysically,thatis,thecustomerhastakenpossessionofsuchgoodsphysically.?theCompanyhastransferredmajorrisksandrewardsofsuchgoodstothecustomer,thatis,thecustomerhasobtainedmajorrisksandrewardsofsuchgoods;and?thecustomerhasacceptedsuchgoodsorservices.
2.Specificmethodsofrevenuerecognition
TheCompanyorganizestheproductionaccordingtothesalescontractssignedwithortheordersplacedbycustomers,andidentifiesthefollowingmodelsbasedondifferentgeographicallocationsofcustomersandinventorymanagementmethods:
(1)GeneralsalesFordomesticsales,theCompanyshipsgoodstothedeliverylocationdesignatedbyacustomer,andrecognizesrevenueafterthecustomerhassignedthereceiptoftheproducts;andforforeignsales,thegoodsaredeliveredaccordingtospecifictradeterms,andtherevenueisrecognizedatapointintimewhenthecontrolistransferred.
(2)SuppliermanagementinventoryUnderthismodel,theCompanyshipsthegoodstothedesignatedwarehouse,thecustomerpicksupthegoodsfromthewarehouse,andtherevenueisrecognizedatapointintimewhenthecontrolistransferred.AccountingpoliciesadoptedpriortoJanuary1,2020
1.Generalprinciplesofrecognitionofrevenuefromthesalesofgoods
(1)theCompanyhastransferredtothebuyerthesignificantrisksandrewardsofownershipofthegoods;
(2)theCompanyretainsneithercontinuingmanagerialinvolvementtothedegreeusuallyassociatedwithownershipnoreffectivecontroloverthegoodssold;
(3)theamountoftherevenuecanbemeasuredreliably;
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(4)itisprobablethattheassociatedeconomicbenefitswillflowtotheCompany;and
(5)theassociatedcostsincurredortobeincurredcanbemeasuredreliably.
2.Specificprinciples
Inadditiontomeetingtheabovecriteria,theCompany’srevenuefromsalesofgoodsisrecognizedwhenmeetingthefollowingconditionsinrespectofdifferentmethodsofdeliverytocustomersandacceptancecheck:
(1)thegoodshavebeendeliveredandpassedtheacceptancecheckofthecustomer;and
(2)theCompanyandthecustomerhavecheckedthegoodsbasedonpurchaseorder,andthecustomeragreestomakepaymenttherefor.DifferenceintheaccountingpolicyforrevenuerecognitionarisingfromadoptionofdifferentmodesofoperationforthesamekindofbusinessNone
40.Governmentgrants
1.CategoryGovernmentgrantsaretransferofmonetaryassetsornon-monetaryassetsfromthegovernmenttotheCompanyatnoconsideration.Governmentgrantsareclassifiedintogovernmentgrantsrelatedtoassetsandgovernmentgrantsrelatedtoincome.GovernmentgrantsrelatedtoassetsaregovernmentgrantswhoseprimaryconditionisthattheCompanyshouldpurchase,constructorotherwiseacquirelong-termassets.Governmentgrantsrelatedtoincomearegovernmentgrantsotherthanthoserelatedtoassets.ThespecificstandardbasedonwhichtheCompanyclassifiesagrantasagovernmentgrantrelatedtoassetsisthat:thegrantobtainedbytheCompanyisusedtopurchase,constructorotherwiseacquirelong-termassets.ThespecificstandardbasedonwhichtheCompanyclassifiesagrantasagovernmentgrantrelatedtoincomeisthat:governmentgrantsrelatedtoincomearegovernmentgrantsotherthanthoserelatedtoassets.Whenclassifyingagrantwhosesubsidyobjectisnotclearlyspecifiedinthegovernmentdocumentsasagovernmentgrantrelatedtoassetsoragovernmentgrantrelatedtoincome,theCompanyjudgeswhetherthegrantisusedtopurchase,constructorotherwiseacquirelong-termassets.
2.Recognitiontime
WhentheCompanyactuallyreceivesthegovernmentgrant,agovernmentgrantrelatedtoassetsoftheCompanyisrecognized,andsincethelong-termassetsareavailableforuse,theCompanyequallyamortizesthedeferredincomebasedontheestimatedusefullifeoflong-termassetsandthentransferssametotheprofitorlossforthecurrentperiod.
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WhentheCompanyactuallyreceivesthegovernmentgrant,agovernmentgrantrelatedtoincomeoftheCompanyisrecognized,andtheCompanyrecognizesitinthenon-operatingincomeorotherincomeovertheperiodsinwhichtherelatedcostsarerecognizedifthegrantisacompensationforrelatedexpensesorlossestobeincurredbytheCompanyinsubsequentperiods,anddirectlyrecognizesitinthenon-operatingincomeorotherincomeforthecurrentperiodonacquisitionifthegrantisacompensationforrelatedexpensesorlossesincurredbytheCompany.ThegovernmentgrantisrecognizedwhentheCompanymeetstheconditionsattachingtothegovernmentgrantandcanreceivethegovernmentgrant.
3.Accountingtreatment
Thegovernmentgrantsrelatedtoassetsareoffsetagainstthecarryingamountoftherelatedassetsorrecognizedasdeferredincome.Ifagrantisrecognizedasdeferredincome,itischargedtoprofitorlossforthecurrentperiodinareasonableandsystematicmannerwithintheusefullifeofrelatedassets(thegrantrelatedtothedailyactivitiesoftheCompanyisrecognizedinotherincome,otherwiseitisrecognizedinnon-operatingincome);ThegovernmentgrantrelatedtoincomewhichisacompensationforrelatedexpensesorlossestobeincurredbytheCompanyinsubsequentperiodsisrecognizedasthedeferredincomeandchargedtotheprofitorlossesovertheperiodwhenrelatedcostsorlossesarerecognized(thegrantrelatedtothedailyactivitiesoftheCompanyisrecognizedinotherincome,otherwiseitisrecognizedinnon-operatingincome)oroffsetagainstrelatedcostsorlosses;andthegovernmentgrantrelatedtoincomewhichisacompensationforrelatedexpensesorlossestobeincurredbytheCompanyinsubsequentperiodsisdirectlyrecognizedinprofitorlossforthecurrentperiod(thegrantrelatedtothedailyactivitiesoftheCompanyisrecognizedinotherincome,otherwiseitisrecognizedinnon-operatingincome)oroffsetagainstrelatedcostsorlosses.Thepolicy-relatedpreferentialloaninterestdiscountsobtainedbytheCompanyareaccountedforseparatelyaccordingtothefollowingtwocircumstances:
(1)Ifthefinancedepartmentallocatestheinterestdiscountfundstothelendingbank,andthenthelendingbankoffersaloantotheCompanyatthepolicy-basedpreferentialinterestrate,theCompanyrecognizestheloanamountactuallyreceivedastherecordedamountoftheloan,andcalculatestheborrowingcostsaccordingtotheloanprincipalandsuchpolicy-basedpreferentialinterestrate.
(2)IfthefinancedepartmentdirectlyallocatestheinterestdiscountfundstotheCompany,theCompanyoffsetsthecorrespondinginterestsubsidyagainsttherelatedborrowingcosts.
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41.Deferredtaxassets/deferredtaxliabilities
Incometaxincludecurrentanddeferredtax.Exceptfortheincometaxarisingfrombusinesscombinationsandtransactionsoreventsrecognizeddirectlyinowners’equity(includingothercomprehensiveincome),theCompanyrecognizescurrenttaxanddeferredtaxinprofitorlossforthecurrentperiod.Thedeferredtaxassetsanddeferredtaxliabilitiesarecalculatedandrecognizedbasedonthedifference(temporarydifference)betweenthetaxbaseofassetsandliabilitiesandthecarryingamountofassetsandliabilities.AdeferredincometaxassetisrecognizedforthedeductibletemporarydifferencetotheextentthatitisprobablethatfuturetaxableprofitswillbeavailableagainstwhichthetemporarydifferencecanbeutilizedAdeferredtaxassetisrecognizedforthecarryforwardofunuseddeductiblelossesandtaxcreditstotheextentthatitisprobablethatfuturetaxableprofitswillbeavailableagainstwhichthedeductiblelossesandtaxcreditscanbeutilized.Adeferredtaxliabilityisrecognizedfortaxabletemporarydifference,exceptforspecialcircumstances.Specialcircumstancesunderwhichthedeferredtaxassetsordeferredtaxliabilitiesarenotrecognizedforthetaxabletemporarydifferenceinclude:
?theinitialrecognitionofgoodwill.?thetransactionoreventthatisnotbusinesscombination,andatthetimeoftheoccurrence,doesnotaffectaccountingprofitortaxableprofit(ordeductibleloss).Adeferredtaxliabilityisrecognizedforthetaxabletemporarydifferencerelatedtoinvestmentsinsubsidiaries,associatesandjointventures,unlesstheCompanyisabletocontrolthetimingofthereversalofthetemporarydifferenceanditisprobablethatthetemporarydifferencewillnotreverseintheforeseeablefuture.Adeferredtaxassetisrecognizedforthetaxabletemporarydifferencerelatedtoinvestmentsinsubsidiaries,associatesandjointventureswhenthetemporarydifferencewillreverseintheforeseeablefutureandtaxableprofitswillbeavailableinthefutureagainstwhichthetemporarydifferencecanbeutilized.Atthebalancesheetdate,deferredtaxassetsanddeferredtaxliabilitiesaremeasuredatthetaxratesthatareexpectedtoapplytotheperiodwhentheassetisrealizedortheliabilityissettled,accordingtotherequirementsoftaxlaws.TheCompanyreviewsthecarryingamountofthedeferredtaxassetsatthebalancesheetdate.TheCompanyreducesthecarryingamountofadeferredtaxassettotheextentthatitisnolongerprobablethatsufficienttaxableprofitswillbeavailableinfutureperiodstoallowthebenefitofthedeferredtaxassettobeutilized.Anysuchreductioninamountisreversedtotheextentthatit
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becomesprobablethatsufficienttaxableprofitswillbeavailable.ThecurrenttaxassetsandcurrenttaxliabilitiesareoffsetandpresentedwhentheCompanyhasthestatutoryrighttosettleonanetbasis,intendstosettleonanetbasisortoobtainassetsandsettleliabilitiessimultaneously.Atthebalancesheetdate,deferredtaxassetsanddeferredtaxliabilitiesareoffsetandpresentedwhenbothofthefollowingconditionsaresatisfied:
?thetaxpayerhasthestatutoryrighttosettlethecurrenttaxassetsandcurrenttaxliabilitiesona
netbasis;and?thedeferredtaxassetsanddeferredtaxliabilitiesarerelatedtoincometaxesleviedbythesametaxauthorityonthesametaxpayerordifferenttaxpayers,providedthatduringtheperiodinwhicheachmaterialdeferredtaxassetandliabilitywillbereversed,thetaxpayerinvolvedintendstosettlethecurrenttaxassetsandliabilitiesonanetbasisorobtainassetsandsettleliabilitiessimultaneously.
42.Leases
(1)Accountingtreatmentofoperatingleases
(1)LeaseexpensespaidbytheCompanyforleasingintheassetisamortizedusingastraight-linemethodthroughouttheleasetermincludingtherent-freeperiod,andrecognizedinexpensesforthecurrentperiod.TheinitialdirectexpensespaidbytheCompanyinconnectionwiththeleasetransactionisrecognizedinexpensesforthecurrentperiod.Whentheassetlessorbearsthelease-relatedexpensestobeassumedbytheCompany,theCompanydeductstheseexpensesfromtotalrentandthenamortizessuchdeductedrentduringtheleaseterm,andrecognizedthesameinexpensesforthecurrentperiod.
(2)LeaseexpensesreceivedbytheCompanyforleasingouttheassetisallocatedusingastraight-linemethodthroughouttheleasetermincludingtherent-freeperiod,andrecognizedasthelease-relatedincome.TheinitialdirectexpensespaidbytheCompanyinconnectionwiththeleasetransactionisrecognizedinexpensesforthecurrentperiod;ifsuchinitialdirectexpensesareofalargeamount,theinitialdirectcostsarecapitalizedandrecognizedinprofitorlossbyinstallmentsonthesamebasisastherecognitionofthelease-relatedincomethroughouttheleaseterm.WhentheCompanybearsthelease-relatedexpensestobeassumedbythelessee,theCompanydeductstheseexpensesfromtotalrentandthenallocatessuchdeductedrentduringtheleaseterm.
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(2)Accountingtreatmentoffinancingleases
(1)AssetsleasedinunderfinancingleasesAttheinceptionofthelease,theCompanyrecordstheleasedassetatanamountequaltothelowerofthefairvalueoftheleasedassetandthepresentvalueoftheminimumleasepayments,andrecognizesalong-termpayableatanamountequaltotheminimumleasepayments.Thedifferencebetweentherecordedamountoftheleasedassetandtherecordedamountofthepayableisaccountedforasunrecognizedfinancecharge.TheCompanyamortizesunrecognizedfinancechargeduringtheleasetermusingtheeffectiveinterestmethod,andrecognizessameinfinancialexpenses.TheinitialdirectexpensesincurredbytheCompanyisrecognizedinthevalueofleased-inasset.
(2)Assetsleasedoutunderfinancingleases:Attheinceptionofthelease,theCompanyrecognizesthedifferencebetweenthesumoffinanceleasereceivablesandunguaranteedresidualvalueandtheirpresentvalueasunearnedfinanceincome,andrecognizessameasleaserevenueineachperiodoverwhichtherentwillbereceived.TheinitialdirectexpensesincurredbytheCompanyinconnectionwiththeleasetransactionsarerecognizedinthefinanceleasereceivableinitiallymeasuredandreducestheamountofincomerecognizedduringtheleaseterm.
43.Othersignificantaccountingpoliciesandaccountingestimates
44.Changesinsignificantaccountingpoliciesandaccountingestimates
(1)Changesinsignificantaccountingpolicies
√Applicable□N/A
Changesinaccountingpoliciesandassociatedreasons | Approvalprocedure | Note: |
Receiptsinadvancerelatedtoperformanceobligationsreclassifiedtocontractliabilities | Examinationandapprovalbytheboardofdirectors | ImplementtheAccountingStandardforBusinessEnterprisesNo.14—Revenue(revisedin2017)(“NewRevenueStandard”) |
(1)ImplementtheAccountingStandardforBusinessEnterprisesNo.14—Revenue(revisedin2017)(“NewRevenueStandard”)TheMinistryofFinancerevisedtheAccountingStandardforBusinessEnterprisesNo.14—Revenuein2017.Inaccordancewiththerevisedstandards,thecumulativeeffectsarisingfromthefirstimplementationofnewstandardsisadjustedtotheamountofretainedearningsandotherrelateditemsinthefinancialstatementsatthebeginningofthecurrentperiodandtheinformationforthecomparableperiodisnotadjusted.
(2)ImplementtheInterpretationNo.13oftheAccountingStandardsforBusinessEnterprisesTheMinistryofFinanceissuedtheInterpretationNo.13oftheAccountingStandardsforBusinessEnterprises(CaiKuai[2019]No.21)(“InterpretationNo.13”)onDecember10,
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2019,whichshallbeimplementedfromJanuary1,2020anddonotrequireretrospectiveadjustment.
1Identificationofrelatedparties
TheInterpretationNo.13clarifiesthatthefollowingcircumstancesconstitutearelatedparty:theenterpriseandassociatesorjointventuresofanyothermembers(includingparentcompanyandsubsidiaries)withintheenterprisegrouptowhichtheenterprisebelongs;thejointventuresoftheenterpriseandotherjointventuresorassociatesoftheenterprise.Inaddition,theInterpretationNo.13alsodefinesthattwoormoreenterprisesthataresignificantlyaffectedbyonlyonepartyshallnotconstituterelatedparties,andadditionallyprovidesthatassociatesincludeassociatesandtheirsubsidiaries,andjointventuresincludejointventuresandtheirsubsidiaries.
2Definitionofbusiness
TheInterpretationNo.13improvesthreeelementsofbusinesscomposition,refinesthejudgmentconditionsofbusinesscomposition,introducesthe“concentrationtest”option,whichsimplifiesthejudgmenttoacertainextentonwhetherthecombinationnotinvolvingenterprisesundercommoncontrolobtainedconstitutesthebusiness.TheCompanyimplementedtheInterpretationNo.13fromJanuary1,2020,andmadenoadjustmenttothecomparativefinancialstatements.TheimplementationoftheInterpretationNo.13hasnothadmaterialimpactontheCompany’sfinancialpositionandoperatingresults.
(3)ImplementtheInterimProvisionsontheAccountingTreatmentRegardingCarbonEmissionsRightTradingTheMinistryofFinanceissuedtheInterimProvisionsontheAccountingTreatmentRegardingCarbonEmissionsRightTrading(CaiKuai[2019]No.22)onDecember16,2019,whichshallapplytotherelevantenterprisesamongkeyemissionenterprises(“keyemissionenterprises”)thatconductcarbonemissiontradingbusinessinaccordancewiththeInterimMeasuresfortheAdministrationofCarbonEmissionPermitTradingandotherrelevantprovisions.TheseprovisionswereimplementedfromJanuary1,2020andkeyemissionenterprisesshallapplytheseprovisionsprospectively.TheCompanyimplementedtheseProvisionsfromJanuary1,2020,andmadenoadjustmenttothecomparativefinancialstatements.TheimplementationoftheseprovisionshasnothadmaterialimpactontheCompany’sfinancialpositionandoperatingresults.
(4)ImplementtheProvisionsontheAccountingTreatmentoftheCOVID-19Pandemic-relatedRentalConcessions
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
TheMinistryofFinanceissuedtheProvisionsontheAccountingTreatmentoftheCOVID-19Pandemic-relatedRentalConcessions(CaiKuai[2020]No.10),whichshallbeimplementedfromJune19,2020andallowenterprisestomakeadjustmentstotherelatedrentalconcessionsincurredfromJanuary1,2020tothedateofimplementationoftheseprovisions.Inaccordancewiththeseprovisions,iftherentreduction,exemption,deferredpaymentandotherrentalconcessions,which,directlycausedbytheCOVID-19pandemic,meetallofthefollowingconditions,anenterprisemayconductaccountingtreatmentbychoosingtoadoptthesimplifiedmethod.TheimplementationoftheseprovisionshasnothadmaterialimpactontheCompany’sfinancialpositionandoperatingresults.
(2)Changesinsignificantaccountingestimates
□Applicable√N/A
(3)Descriptionofadjustmentsinopeningbalancesoflineitemsinfinancialstatementsoftheyearduetofirstimplementationofnewincomestandardandnewleasestandardsince2020ApplicableDidthelineitemsoftheopeningassetsandliabilitiesrequireadjustment?
□Yes√NoThereasonwhythelineitemsoftheopeningassetsandliabilitiesrequirenoadjustment
TheCompanyimplementednewincomestandardfromJanuary1,2020.Inaccordancewithnewstandards,theCompanyadjuststheamountofretainedearningsandotherrelateditemsinthefinancialstatementsatthebeginningofthecurrentperiodonlyforthecumulativeeffectsofthecontractsuncompletedonthedateoffirstimplementation,andtheinformationforthecomparableperiodisnotadjusted.Themainimpactsarisingfromimplementationofthesestandardsaredescribedasfollows:
Changesinaccountingpoliciesandassociatedreasons | Approvalprocedure | Affecteditemsofthestatements | EffectsofthebalanceasatJanuary1,2020 | |
Combination | Parentcompany | |||
Receiptsinadvancerelatedtoperformanceobligationsreclassifiedtocontractliabilities | Examinationandapprovalbytheboardofdirectors | Receiptsinadvance | -101,609,379.21 | -19,692,593.36 |
Contractliabilities | 95,586,087.42 | 17,427,073.77 | ||
Othercurrentliabilities | 6,023,291.79 | 2,265,519.59 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
(4)Descriptionofretrospectiveadjustmentsincomparativedatainpriorperiodsduetofirstimplementationofnewfinancialinstrumentstandardsandnewleasestandardin2020
□Applicable√N/A
45.Others
None
VI.Taxes
1.Majorcategoriesoftaxesandtaxrates
Taxcategory | Taxationbasis | Taxrate |
Value-addedtax(VAT) | VATpayableistheoutputtaxbasedonthesalesofgoodsandtaxablelaborincomecalculatedpursuanttothetaxlaw,netoftheinputtaxthatisallowedtobedeductedinthecurrentperiod | 13%,9%,6%,5%,3%,0% |
Urbanmaintenanceandconstructiontax | SubjecttotheactualpaymentofVATandconsumptiontax | 7%,5% |
Enterpriseincometax | Subjecttothetaxableincomeamount | 25%,20%,19%,16.5%,15%,0% |
Disclosureoftaxpayers(ifany)withdifferentratesofenterpriseincometax:
Taxpayer | Rateofenterpriseincometax |
LuxsharePrecisionIndustryCo.,Ltd. | 15 |
XiexunElectronic(Ji’an)Co.,Ltd. | 15 |
ASAPTechnology(Jiangxi)Co.,Ltd. | 15 |
LantoElectronicLimited | 15 |
BozhouLantoElectronicLimited | 15 |
HuzhouJiudingElectronicCo.,Ltd. | 15 |
LuxshareAutomation(Jiangsu)Ltd. | 15 |
MeiteTechnology(Suzhou)Co.,Ltd. | 15 |
LuxshareElectronicTechnology(Kunshan)Co.,Ltd. | 15 |
YongxinCountyBoshuoElectronicsCo.,Ltd. | 15 |
LuxsharePrecisionIndustry(Chuzhou),Ltd. | 15 |
MeilvElectronic(Huizhou)Co.,Ltd. | 15 |
FujianJKWiringSystemsCo.,Ltd. | 15 |
JiangxiLuxshareIntelligentManufactureCo.,Ltd. | 15 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
JiangxiASAPElectronicCo.,Ltd. | 15 |
Kunshan-LuxshareRFTechnologyCo.,Ltd. | 15 |
SuiningLuxsharePrecisionIndustryCo.,Ltd. | 15 |
LuxsharePrecisionIndustry(Baoding)Co.,Ltd. | 15 |
LuxsharePrecisionIndustry(Shanxi)Co.,Ltd. | 15 |
DonguanXuntaoElectronicCo.,Ltd. | 15 |
KunshanLuxsharePrecisionIndustryCo.,Ltd. | 15 |
LuxshareIntelligentManufacture(Zhejiang)Co.,Ltd. | 15 |
ShenzhenLuxshareAcousticsTechnologyLtd. | 15 |
LuxsharePrecisionLimited(HK) | Note1 |
LuxsharePrecisionTechnologyCo.,Ltd. | 16.5 |
TaiwanLuxsharePrecisionLimited | 20 |
ICTLANTOLIMITED(HK) | Note1 |
LuxshareStandardLimited(HK) | Note1 |
LuxshareTechnologiesLimited | Note1 |
Luxshare-ICT(Japan) | Note2 |
YundingTechnologyCo.,Ltd. | Note1 |
SpeedTechCorp. | 20 |
Luxshare-ICT(India) | 25 |
LuxshareLanto(India)Co.,Ltd. | 25 |
LuxshareICT,Inc. | Note3 |
Luxshare-ICTIndustryEuropeLimited | 19 |
SukkunststofftechnikGmbH | 15 |
KoreaLuxshareICTCo.,Ltd | Note4 |
LUXSHARE-ICTINTERNATIONALB.V. | Note5 |
Luxshare-ICT(Vietnam)Limited | 20 |
LuxsharePrecision(Yunzhong)Co.,Ltd. | 20 |
LuxsharePrecision(Yi’an)Co.,Ltd. | 20 |
Othersubsidiaries | 25 |
2.Taxincentives
1.TheCompanywasidentifiedasahigh-techenterprisebyShenzhenScienceandTechnologyInnovationCommission,ShenzhenFinanceCommittee,andShenzhenTaxService,StateTaxationAdministrationonNovember9,2018,withtheHigh-techEnterpriseCertificateNo.GF201844203584whichisvalidforthreeyears.AsprovidedforintheNoticebytheMinistryof
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
FinanceandtheStateAdministrationofTaxationonPreferentialPoliciesforEnterpriseIncomeTaxesRelatedtoEnterprises’TechnologicalInnovationandtheNoticebytheStateAdministrationofTaxationonIssuesConcerningtheImplementationofPreferentialIncomeTaxesforHigh-techEnterprises,theCompanyenjoysanenterpriseincometaxof15%for2020.
2.Thesubsidiary,XiexunElectronic(Ji’an)Co.,Ltd.(“Ji’anXiexun”),wasidentifiedasahigh-techenterprisebyScienceandTechnologyDepartmentofJiangxiProvince,JiangxiProvincialFinanceBureau,andJiangxiProvincialTaxService,StateTaxationAdministrationonSeptember14,2019,withtheHigh-techEnterpriseCertificateNo.GR202036001325whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
3.Thesubsidiary,ASAPTechnology(Jiangxi)Co.,Ltd.(“ASAPJiangxi”),wasidentifiedasahigh-techenterprisebyScienceandTechnologyDepartmentofJiangxiProvince,JiangxiProvincialFinanceBureau,andJiangxiProvincialTaxService,StateTaxationAdministrationonSeptember16,2019,withtheHigh-techEnterpriseCertificateNo.GR201936000710whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
4.Thesubsidiary,LantoElectronicLimited(“LantoKunshan”),wasidentifiedasahigh-techenterprisebytheJiangsuProvincialDepartmentofScienceandTechnology,JiangsuProvincialDepartmentofFinance,JiangsuProvincialTaxService,StateTaxationAdministrationandLocalTaxationBureauofJiangsuProvinceonDecember2,2020andobtainedtheCertificateNo.GF2020320037377whichisvalidforthreeyears.Inaccordancewithrelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
5.Thesub-subsidiary,BozhouLantoElectronicLimited(“BozhouLanto”),wasidentifiedasahigh-techenterprisebyAnhuiProvincialDepartmentofScienceandTechnology,AnhuiProvincialDepartmentofFinance,andAnhuiProvincialTaxService,StateTaxationAdministrationonJuly24,2018,andobtainedtheCertificateNo.GR201834001191whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
6.Thesub-subsidiary,HuzhouJiudingElectronicCo.,Ltd.(“HuzhouJiuding”),wasidentifiedasahigh-techenterprisebytheZhejiangProvincialDepartmentofScienceandTechnology,ZhejiangProvincialDepartmentofFinance,ZhejiangProvincialTaxService,StateTaxationAdministrationandLocalTaxationBureauofZhejiangProvinceonDecember1,2020,andobtainedtheHigh-techEnterpriseCertificateNo.GR202033002604whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
7.Thesubsidiary,LuxshareAutomation(Jiangsu)Ltd.(“JiangsuAutomation”),wasidentifiedasahigh-techenterprisebyJiangsuProvincialDepartmentofScienceandTechnology,Jiangsu
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
ProvincialDepartmentofFinance,andJiangsuProvincialTaxService,StateTaxationAdministrationonNovember30,2018,withtheHigh-techEnterpriseCertificateNo.GR201832005137whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
8.Thesub-subsidiary,MeiteTechnology(Suzhou)Co.,Ltd.(“SuzhouMeite”)wasidentifiedasahigh-techenterprisebyJiangsuProvincialDepartmentofScienceandTechnology,JiangsuProvincialDepartmentofFinance,JiangsuProvincialTaxService,StateTaxationAdministrationandLocalTaxationBureauofJiangsuProvinceonDecember2,2020,withtheHigh-techEnterpriseCertificateNo.GR202032005557whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
9.Thesubsidiary,LuxshareElectronicTechnology(Kunshan)Co.,Ltd.(“LuxshareElectronicKunshan”),wasidentifiedasahigh-techenterprisebyJiangsuProvincialDepartmentofScienceandTechnology,JiangsuProvincialDepartmentofFinance,andJiangsuProvincialTaxService,StateTaxationAdministrationonNovember28,2018,withtheHigh-techEnterpriseCertificateNo.GR201832003780,whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
10.Thesub-subsidiary,YongxinCountyBoshuoElectronicsCo.,Ltd.(“YongxinBoshuo”),wasidentifiedasahigh-techenterprisebyScienceandTechnologyDepartmentofJiangxiProvince,JiangxiProvincialFinanceBureau,JiangxiProvincialTaxService,StateTaxationAdministrationandLocalTaxationBureauofJiangxiProvinceonDecember2,2020,withtheHigh-techEnterpriseCertificateNo.GR202036001897whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
11.Thesubsidiary,LuxsharePrecisionIndustry(Chuzhou),Ltd.(“LuxshareChuzhou”),wasidentifiedasahigh-techenterprisebyAnhuiProvincialDepartmentofScienceandTechnology,AnhuiProvincialDepartmentofFinance,andAnhuiProvincialTaxService,StateTaxationAdministrationonSeptember9,2019,withtheHigh-techEnterpriseCertificateNo.GR201934001733whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
12.Thesub-subsidiary,MeilvElectronic(Huizhou)Co.,Ltd.(“HuizhouMeilv”),wasidentifiedasahigh-techenterprisebyDepartmentofScienceandTechnologyofGuangdongProvince,DepartmentofFinanceofGuangdongProvince,andGuangdongProvincialTaxService,StateTaxationAdministrationin2018,withtheHigh-techEnterpriseCertificateNo.GR201844010193whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometax
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
rateof15%for2020.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
13.Thesubsidiary,FujianJKWiringSystemsCo.,Ltd.(“FujianJK”),wasidentifiedasahigh-techenterprisebytheFujianProvincialDepartmentofScienceandTechnology,FujianProvincialDepartmentofFinance,FujianProvincialTaxService,StateTaxationAdministrationandLocalTaxationBureauofFujianProvinceonDecember1,2020,withtheHigh-techEnterpriseCertificateNo.GR202035000014whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
14.Thesubsidiary,JiangxiLuxshareIntelligentManufactureCo.,Ltd.(“IntelligentManufactureJiangxi”),wasidentifiedasahigh-techenterprisebyJiangsuProvincialDepartmentofScienceandTechnology,JiangsuProvincialDepartmentofFinance,andJiangsuProvincialTaxService,StateTaxationAdministrationonAugust13,2018,withtheHigh-techEnterpriseCertificateNo.GR201836000417whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
15.Thesub-subsidiary,JiangxiASAPElectronicCo.,Ltd.(“BoshuoElectronics”),wasidentifiedasahigh-techenterprisebyScienceandTechnologyDepartmentofJiangxiProvince,JiangxiProvincialFinanceBureau,andJiangxiProvincialTaxService,StateTaxationAdministrationonDecember4,2018,withtheHigh-techEnterpriseCertificateNo.GR201836001774whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
16.Thesub-subsidiary,Kunshan-LuxshareRFTechnologyCo.,Ltd.(“KunshanRF”),wasidentifiedasahigh-techenterprisebyJiangsuProvincialDepartmentofScienceandTechnology,JiangsuProvincialDepartmentofFinance,andJiangsuProvincialTaxService,StateTaxationAdministrationonNovember28,2018,withtheHigh-techEnterpriseCertificateNo.GR201832003391whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
17.Thesub-subsidiary,SuiningLuxsharePrecisionIndustryCo.,Ltd.(“SuiningLuxshare”)wasidentifiedasahigh-techenterprisebyScience&TechnologyDepartmentofSichuanProvince,SichuanProvincialFinanceDepartment,andSichuanProvincialTaxService,StateTaxationAdministrationonDecember3,2018,withtheHigh-techEnterpriseCertificateNo.GR201851001013whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
18.Thesub-subsidiary,LuxsharePrecisionIndustry(Baoding)Co.,Ltd.(“BaodingLuxshare”),wasidentifiedasahigh-techenterprisebyHebeiProvincialDepartmentofScienceandTechnology,HebeiProvincialFinanceBureau,andHebeiProvincialTaxService,StateTaxationAdministrationonSeptember10,2019,withtheHigh-techEnterpriseCertificateNo.GR201913000851whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
19.Thesub-subsidiary,LuxsharePrecisionIndustry(Shanxi)Co.,Ltd.(“ShanxiLuxshare”),wasidentifiedasahigh-techenterprisebyShanxiScienceandTechnologyDepartment,ShanxiProvincialDepartmentofFinance,andShanxiProvincialTaxService,StateTaxationAdministrationonSeptember16,2019,withtheHigh-techEnterpriseCertificateNo.GR201914000049whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
20.Thesub-subsidiary,DonguanXuntaoElectronicCo.,Ltd.(“DonguanXuntao”),wasidentifiedasahigh-techenterprisebytheDepartmentofScienceandTechnologyofGuangdongProvince,DepartmentofFinanceofGuangdongProvince,andGuangdongProvincialTaxService,StateTaxationAdministrationonDecember2,2019,withtheCertificateNo.GR201944005411whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
21.Thesubsidiary,KunshanLuxsharePrecisionIndustryCo.,Ltd.(“KunshanLuxshare”),wasidentifiedasahigh-techenterprisebyJiangsuProvincialDepartmentofScienceandTechnology,JiangsuProvincialDepartmentofFinance,andJiangsuProvincialTaxService,StateTaxationAdministrationonDecember2,2020,withtheHigh-techEnterpriseCertificateNo.GR202032002892,whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
22.Thesubsidiary,LuxshareIntelligentManufacture(Zhejiang)Co.,Ltd.(“ZhejiangIntelligentManufacture”),wasidentifiedasahigh-techenterprisebyZhejiangProvincialDepartmentofScienceandTechnology,ZhejiangProvincialDepartmentofFinance,andZhejiangProvincialTaxService,StateTaxationAdministrationonDecember1,2020,withtheHigh-techEnterpriseCertificateNo.GR202033001987,whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
23.Thesubsidiary,ShenzhenLuxshareAcousticsTechnologyLtd.(“LuxshareAcoustics”),wasidentifiedasahigh-techenterprisebyJiangsuProvincialDepartmentofScienceandTechnology,JiangsuProvincialDepartmentofFinance,andJiangsuProvincialTaxService,StateTaxationAdministrationonDecember11,2020,withtheHigh-techEnterpriseCertificateNo.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
GR202044204060,whichisvalidforthreeyears.Accordingtorelevantprovisionsofthenationalhigh-techenterpriseincometaxpreferentialpoliciesinChina,itenjoysanenterpriseincometaxrateof15%for2020.
3.Others
Note1.AsperthetaxlawinHongKong,HongKongadoptsaterritorialsourceprincipleoftaxation,underwhichonlyprofitswhichhaveasourceinHongKongaretaxablethere,whileprofitssourcedelsewherearenotsubjecttoHongKonggaintax.LuxshareTechnologiesLimited,LuxshareStandardLimited(HK),ICTLANTOLIMITED(HK),LuxsharePrecisionLimited(HK)andYundingTechnologyCo.,Ltd.arenotsubjecttoHongKonggaintax.Note2.Luxshare-ICT(Japan)isentitledtothegradedtaxrateforthecapitalamountingtonotmorethanJPY100million.Corporateincometax(nationaltax):at15%fortheportionoftaxableincomewithinJPY8million(inclusive),andat23.2%fortheportioninexcessthereof.Localcorporateincometax(nationaltax):at10.3%oftotalcorporatetaxableincome(nationaltax).Note3.TheapplicabletaxrateofLuxshareICT,Incisshownasfollows:
Applicabletaxrate | |
Incometax(federal) | 21% |
Localtax(state) | 8.84% |
Note4.TheapplicabletaxrateofKoreaLuxshareICTCo.,Ltdisshownasfollows:
Totalprofits | Corporatetax | Localtax |
LessthanKRW200million | 10% | 10%ofcorporatetaxableincome |
KWR200million~KWR20billion | 20% | |
KWR20billion~KWR300billion | 22% | |
AboveKWR300billion | 25% |
Note5.LUXSHARE-ICTINTERNATIONALB.V.isincorporatedintheNetherlands,towhomtheapplicabletaxrateis16.5%fortheportionofincomewithinEUR200,000and25%fortheportioninexcessthereof.VII.NotestoItemsinConsolidatedFinancialStatements
1.Cashandbankbalances
InRMB
Item | ClosingBalance | OpeningBalance |
Cashonhand | 9,919,560.76 | 594,825.70 |
Bankdeposit | 10,454,884,890.58 | 6,146,745,098.56 |
Othercashandbankbalances | 63,441,314.59 | 33,126,334.75 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Total | 10,528,245,765.93 | 6,180,466,259.01 |
Including:Totalamountoffundsdepositedabroad | 3,867,118,934.25 | 2,593,531,992.70 |
Totalamountoffundswhicharerestrictedinusebymortgage,pledgeorfreezing,etc. | 63,441,314.59 | 33,126,334.75 |
OtherdescriptionsBankdepositsincludeinterestincurredfromfixed-termdepositsamountingtoRMB11,810,808.21Thebreakdownofcashandbankbalanceswhicharerestrictedinusebymortgage,pledgeorfreezing,etc.,andwhicharedepositedabroadwithrestrictedrepatriationareasfollows:
Item | ClosingBalance | ClosingBalanceofPreviousYear |
Securitydepositofbankacceptancebills | 10,678,394.18 | 3,078,831.30 |
Creditdeposits | 13,933,745.95 | 13,254,298.15 |
Performancedeposit | 21,291,516.86 | |
TermdepositorCallDepositusedforguarantee | 17,537,657.60 | 16,793,205.30 |
Total | 63,441,314.59 | 33,126,334.75 |
2.Held-for-tradingfinancialassets
InRMB
Item | ClosingBalance | OpeningBalance |
Financialassetsatfairvaluethroughprofitorloss | 3,160,064,470.41 | 1,524,366,132.75 |
Including: | ||
Derivativefinancialassets | 305,388,419.95 | 16,591,708.18 |
Bankwealthmanagement | 2,854,676,050.46 | 1,507,774,424.57 |
Including: | ||
Total | 3,160,064,470.41 | 1,524,366,132.75 |
Otherdescriptions:
3.Derivativefinancialassets
InRMB
Item | ClosingBalance | OpeningBalance |
Otherdescriptions:
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
4.Notesreceivable
(1)Categorizedpresentationofnotesreceivable
InRMB
Item | ClosingBalance | OpeningBalance |
Bankacceptancebill | 251,899,317.40 | 47,511,878.70 |
Commercialacceptancebill | 9,309,284.10 | 19,362,048.27 |
Total | 261,208,601.50 | 66,873,926.97 |
InRMB
Category | ClosingBalance | OpeningBalance | ||||||||
Bookbalance | Bad-debtprovision | Bookvalue | Bookbalance | Bad-debtprovision | Bookvalue | |||||
Amount | Proportion | Amount | Provisionproportion | Amount | Proportion | Amount | Provisionproportion | |||
Including: | ||||||||||
Including: |
Provisionforbaddebtsmadeindividually:
InRMB
Description | ClosingBalance | |||
Bookbalance | Bad-debtprovision | Provisionproportion | Reasonforprovision |
Provisionforbaddebtsmadebygroup:
InRMB
Description | ClosingBalance | ||
Bookbalance | Bad-debtprovision | Provisionproportion |
Descriptionsonthebasisfordeterminationofthegroup:
Ifthebad-debtprovisionofnotesreceivableismadeaccordingtothegeneralmodelofexpectedcreditloss,pleasedisclosetherelevantinformationofbad-debtprovisionwithreferencetothedisclosuremethodofotherreceivables:
?Applicable√N/A
(2)Bad-debtprovisionmade,recoveredorreversedinthecurrentperiodBad-debtprovisionmadeinthecurrentperiod:
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
InRMB
Category | OpeningBalance | Amountofchangeinthecurrentperiod | ClosingBalance | |||
Provision | Recoverorreversal | Writeoff | Other |
Includingsignificantamountsrecoveredorreversedfromthecurrentprovisionforbaddebts:
?Applicable√N/A
(3)NotesreceivablepledgedbytheCompanyattheendoftheperiod
InRMB
Item | Pledgedamountattheendoftheperiod |
Bankacceptancebill | 22,490,383.01 |
Total | 22,490,383.01 |
(4)NotesreceivablethathavebeenendorsedordiscountedbytheCompanyattheendoftheperiodandhavenotyetmaturedonthebalancesheetdate
InRMB
Item | Derecognizedamountattheendoftheperiod | Amountnotderecognizedattheendoftheperiod |
Bankacceptancebill | 2,091,917,564.86 | |
Total | 2,091,917,564.86 |
(5)NoteswhichtheCompanytransfersintoaccountsreceivableattheendoftheperiodbecauseofdrawers’non-performance
InRMB
Item | Amounttransferredtoaccountsreceivableattheendoftheperiod |
Otherdescriptions
(6)Notesreceivableactuallywrittenoffinthecurrentperiod
InRMB
Item | Write-offamount |
Includingthewrite-offofsignificantnotesreceivable:
InRMB
Entityname | Natureofnotesreceivable | Write-offamount | Reasonsforwriteoff | Proceduresforwriteoff | Whetherthefundsaregeneratedbyrelated-party |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Instructionsonthewrite-offofnotesreceivable:
5.Accountsreceivable
(1)Categorizeddisclosureofaccountsreceivable
InRMB
transactionsCategory
Category | ClosingBalance | OpeningBalance | ||||||||
Bookbalance | Bad-debtprovision | Bookvalue | Bookbalance | Bad-debtprovision | Bookvalue | |||||
Amount | Proportion | Amount | Provisionproportion | Amount | Proportion | Amount | Provisionproportion | |||
Accountsreceivableforwhichbad-debtprovisionismadeindividually | 37,656,321.38 | 0.27% | 37,527,221.68 | 99.66% | 129,099.70 | 38,880,180.69 | 0.29% | 38,617,539.76 | 99.32% | 262,640.93 |
Including: | ||||||||||
Accountsreceivableforwhichbad-debtprovisionismadebygroup | 13,862,652,924.95 | 99.73% | 23,626,684.18 | 0.17% | 13,839,026,240.77 | 13,268,942,471.16 | 99.71% | 25,579,539.87 | 0.19% | 13,243,362,931.29 |
Including: | ||||||||||
Groupbyaging | 13,862,652,924.95 | 99.73% | 23,626,684.18 | 0.17% | 13,839,026,240.77 | 13,268,942,471.16 | 99.71% | 25,579,539.87 | 0.19% | 13,243,362,931.29 |
Total | 13,900,309,246.33 | 100.00% | 61,153,905.86 | 13,839,155,340.47 | 13,307,822,651.85 | 100.00% | 64,197,079.63 | 13,243,625,572.22 |
Provisionforbaddebtsmadeindividually:RMB37,527,221.68
InRMB
Description | ClosingBalance | |||
Bookbalance | Bad-debtprovision | Provisionproportion | Reasonforprovision | |
Entity1 | 30,988,680.56 | 30,988,680.56 | 100.00% | Unrecoverable |
Entity2 | 3,884,072.10 | 3,884,072.10 | 100.00% | Unrecoverable |
Entity3 | 2,542,165.36 | 2,413,065.66 | 94.92% | Unrecoverable |
Entity4 | 241,403.36 | 241,403.36 | 100.00% | Unrecoverable |
Total | 37,656,321.38 | 37,527,221.68 | -- | -- |
Provisionforbaddebtsmadeindividually:
InRMB
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Description | ClosingBalance | |||
Bookbalance | Bad-debtprovision | Provisionproportion | Reasonforprovision |
Provisionforbaddebtsmadebygroup:RMB23,626,684.18
InRMB
Description | ClosingBalance | ||
Bookbalance | Bad-debtprovision | Provisionproportion | |
Undue | 13,718,412,121.82 | 6,878,063.42 | 0.05% |
1to60daysoverdue | 120,007,255.07 | 6,000,362.74 | 5.00% |
61to120daysoverdue | 9,261,165.60 | 2,778,349.68 | 30.00% |
121to180daysoverdue | 7,927,945.22 | 3,171,178.08 | 40.00% |
181to365daysoverdue | 4,484,906.74 | 2,242,453.37 | 50.00% |
1(excluding1)to2yearsoverdue | 32,538.23 | 29,284.62 | 90.00% |
Morethan2yearsoverdue | 2,526,992.27 | 2,526,992.27 | 100.00% |
Total | 13,862,652,924.95 | 23,626,684.18 | -- |
Descriptiononthebasisfordeterminationofthegroup:
Provisionforbaddebtsmadebygroup:
InRMB
Description | ClosingBalance | ||
Bookbalance | Bad-debtprovision | Provisionproportion |
Descriptiononthebasisfordeterminationofthegroup:
Ifthebad-debtprovisionofaccountsreceivableismadeaccordingtothegeneralmodelofexpectedcreditloss,pleaserefertothedisclosuremethodofotherreceivablestodisclosetherelevantinformationofbaddebtprovision:
√Applicable□N/ADisclosurebyaging
InRMB
Aging | Bookbalance |
Within1year(including1year) | 13,861,439,232.22 |
Undue | 13,718,412,121.83 |
1to60daysoverdue | 120,007,255.07 |
61to120daysoverdue | 9,261,165.60 |
121to180daysoverdue | 8,449,126.92 |
181to365daysoverdue | 5,309,562.80 |
1to2years | 4,379,393.94 |
2to3years | 34,490,620.17 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Total | 13,900,309,246.33 |
(2)Bad-debtprovisionmade,recoveredorreversedinthecurrentperiod
Bad-debtprovisioninthecurrentperiod:
InRMB
Category | OpeningBalance | Amountofchangeinthecurrentperiod | ClosingBalance | |||
Provision | Recoverorreversal | Writeoff | Other | |||
Accountsreceivable | 64,197,079.63 | 7,737,455.44 | 8,486,030.92 | -2,294,598.29 | 61,153,905.86 | |
Total | 64,197,079.63 | 7,737,455.44 | 8,486,030.92 | -2,294,598.29 | 61,153,905.86 |
Includingsignificantamountsrecoveredorreversedfromthecurrentprovisionforbaddebts:
InRMB
Entityname | Amountrecoveredorreversed | Recoverymethod |
(3)Accountsreceivableactuallywrittenoffinthecurrentperiod
InRMB
Item | Write-offamount |
Accountsreceivableactuallywrittenoff | 8,486,030.92 |
Includingthewrite-offofsignificantaccountsreceivable:
InRMB
Entityname | Natureofaccountsreceivable | Write-offamount | Reasonsforwriteoff | Proceduresforwriteoff | Whetherthefundsaregeneratedbyrelated-partytransactions |
Descriptiononthewrite-offofaccountsreceivable:
(4)Accountsreceivablewithtopfiveclosingbalance-bydebtor
InRMB
Entityname | Closingbalanceofaccountsreceivable | Proportionintotalclosingbalanceofaccountsreceivable | Closingbalanceofbad-debtprovision |
Entity1 | 3,835,859,879.62 | 27.60% | 1,917,929.94 |
Entity2 | 1,993,686,757.88 | 14.34% | 996,843.38 |
Entity3 | 959,284,250.83 | 6.90% | 479,642.13 |
Entity4 | 610,371,562.51 | 4.39% | 305,185.78 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Entity5 | 542,396,461.86 | 3.90% | 271,198.23 |
Total | 7,941,598,912.70 | 57.13% |
(5)Accountsreceivablederecognizedduetotransferoffinancialassets
Item | Amountofderecognition | Waysoffinancialassetstransfer | Gainsorlossesrelatedtoderecognition |
Entity1 | 7,430,587,022.91 | Sale | -31,529,890.44 |
Total | 7,430,587,022.91 | -31,529,890.44 |
In2020,theCompanysoldtheaccountsreceivableofspecificcustomerstobanksandfinancialinstitutions.AsofDecember31,2020,theaccountsreceivablederecognizedforthespecificcustomersamounttoRMB7,430,587,022.91.
(6)Amountofassetsandliabilitiesformedbytransferringaccountsreceivableandcontinuinginvolvement
Otherdescriptions:
6.Receivablesfinancing
InRMB
Item | ClosingBalance | OpeningBalance |
Increaseanddecreaseaswellasfairvaluechangesofreceivablesfinancinginthecurrentperiod
□Applicable√N/AIftheprovisionforimpairmentofreceivablesfinancingismadeaccordingtothegeneralmodelofexpectedcreditloss,pleaserefertothedisclosuremethodofotherreceivablestodisclosetherelevantinformationofimpairmentprovision:
□Applicable√N/AOtherdescriptions:
7.Prepayments
(1)Presentationofprepaymentsbyaging
InRMB
Aging | ClosingBalance | OpeningBalance | ||
Amount | Proportion | Amount | Proportion | |
Within1year | 182,183,707.73 | 99.07% | 210,286,780.20 | 99.19% |
1to2years | 1,264,401.36 | 0.69% | 1,133,221.56 | 0.53% |
2to3years | 172,178.32 | 0.09% | 191,954.70 | 0.09% |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Over3years | 266,650.29 | 0.15% | 406,655.45 | 0.19% |
Total | 183,886,937.70 | -- | 212,018,611.91 | -- |
Reasonsforuntimelysettlementofprepaymentsinsignificantamountwithagingover1year:
(2)Prepaymentswithtopfiveclosingbalance-byprepaymentbeneficiary
Prepaymentreceiver | ClosingBalance | Proportionintotalclosingbalanceofprepayments(%) |
Entity1 | 45,755,861.25 | 24.88 |
Entity2 | 30,460,372.91 | 16.56 |
Entity3 | 10,155,255.63 | 5.52 |
Entity4 | 8,679,875.60 | 4.72 |
Entity5 | 5,161,011.87 | 2.81 |
Total | 100,212,377.26 | 54.49 |
Otherdescriptions:
8.Otherreceivables
InRMB
Item | ClosingBalance | OpeningBalance |
Otherreceivables | 407,990,780.79 | 338,237,923.96 |
Total | 407,990,780.79 | 338,237,923.96 |
(1)Interestreceivable
1)Classificationofinterestreceivable
InRMB
Item | ClosingBalance | OpeningBalance |
2)Significantoverdueinterest
InRMB
Borrower | Closingbalance | Overduetime | Reasonsfordelay | Whetherthereisimpairmentanditsjudgmentbasis |
Otherdescriptions:
3)Bad-debtprovision
□Applicable√N/A
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
(2)Dividendsreceivable
1)Classificationofdividendsreceivable
InRMB
Item(orInvestee) | ClosingBalance | OpeningBalance |
2)Significantdividendsreceivablewithagingover1year
InRMB
Item(orInvestee) | ClosingBalance | Aging | Reasonsfornon-recovery | Whetherthereisimpairmentanditsjudgmentbasis |
3)Bad-debtprovision
□Applicable√N/AOtherdescriptions:
(3)Otherreceivables
1)Classificationofotherreceivablesbynature
InRMB
Natureofreceivables | Closingbookbalance | Openingbookbalance |
Reservefund | 2,150,958.86 | 9,489,186.52 |
Securitydeposit | 82,843,142.41 | 39,474,865.66 |
Importtaxrebatereceivable | 52,519,780.76 | 25,871,375.64 |
Disbursement | 61,811,236.98 | 2,156,089.51 |
Transferfundsoffixedassets | 15,068,375.17 | 66,256,604.46 |
Other | 195,784,468.71 | 196,384,767.00 |
Total | 410,177,962.89 | 339,632,888.79 |
2)Bad-debtprovision
InRMB
Bad-debtprovision | StageI | StageII | StageIII | Total |
12-monthECL | LifetimeECL(withcreditimpaired) | LifetimeECL(withcreditunimpaired) | ||
BalanceasatJanuary1,2020 | 1,394,964.83 | 1,394,964.83 | ||
BalanceasatJanuary1, | —— | —— | —— | —— |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
2020inthecurrentperiod | |||
Provision | 852,545.23 | 852,545.23 | |
Write-off | 68,961.70 | 68,961.70 | |
Otherchanges | 8,633.74 | 8,633.74 | |
BalanceasatDecember31,2020 | 2,187,182.10 | 2,187,182.10 |
Changesinthebookbalanceoftheprovisionforlosswithsignificantamountofchangesinthecurrentperiod
□Applicable√N/ADisclosurebyaging
InRMB
Aging | Bookbalance |
Within1year(including1year) | 409,648,448.73 |
Undue | 407,198,678.37 |
1to60daysoverdue | 1,661,132.43 |
61to120daysoverdue | 495,439.79 |
121to180daysoverdue | 5,305.30 |
181to365daysoverdue | 287,892.84 |
1to2years | 529,514.16 |
Total | 410,177,962.89 |
3)Bad-debtprovisionmade,recoveredorreversedinthecurrentperiod
Bad-debtprovisionmadeinthecurrentperiod:
InRMB
Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance | |||
Provision | Recoverorreversal | Writeoff | Other | |||
Groupbyaging | 1,394,964.83 | 852,545.23 | 68,961.70 | 8,633.74 | 2,187,182.10 | |
Total | 1,394,964.83 | 852,545.23 | 68,961.70 | 8,633.74 | 2,187,182.10 |
Includingsignificantamountsreversedorrecoveredfromthecurrentprovisionforbaddebts:
InRMB
Entityname | Amountreversedorrecovered | Recoverymethod |
4)Otherreceivablesactuallywrittenoffinthecurrentperiod
InRMB
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Item | Write-offamount |
Includingthewrite-offofsignificantotherreceivables:
InRMB
Entityname | Natureofotherreceivables | Write-offamount | Reasonsforwriteoff | Proceduresforwriteoff | Whetherthefundsaregeneratedbyrelated-partytransactions |
Descriptionsonthewrite-offofotherreceivables:
5)Otherreceivableswithtopfiveclosingbalance-bydebtor
InRMB
Entityname | Natureofreceivables | Closingbalance | Aging | Proportionintotalclosingbalanceofotherreceivables | Closingbalanceofbad-debtprovision |
Entity1 | Equitytransferfunds | 190,000,000.00 | Undue | 46.32% | 950,000.00 |
Entity2 | Exporttaxrebate | 52,519,780.76 | Undue | 12.80% | 262,598.90 |
Entity3 | Securitydeposit | 17,447,194.83 | Undue | 4.25% | 87,235.97 |
Entity4 | Securitydeposit | 13,704,698.01 | Undue | 3.34% | 68,523.49 |
Entity5 | Transferfundsoffixedassets | 12,189,828.69 | Undue | 2.97% | 60,949.14 |
Total | -- | 285,861,502.29 | -- | 69.68% | 1,429,307.50 |
6)Receivablesinvolvinggovernmentgrants
InRMB
Entityname | Nameofgovernmentgrant | Closingbalance | Agingattheendoftheperiod | Estimatedtime,amountandbasisofcollection |
7)Otherreceivablesderecognizedduetotransferoffinancialassets
8)Amountofassetsandliabilitiesformedbytransferringotherreceivablesandcontinuinginvolvement
Otherdescriptions:
9.Inventories
WheretheCompanyneedtocomplywiththedisclosurerequirementsfortherealestateindustryNo
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
(1)Classificationofinventories
InRMB
Item | ClosingBalance | OpeningBalance | ||||
Bookbalance | Provisionfordeclineinvalueofinventoriesorprovisionforimpairmentofcontractperformancecost | Bookvalue | Bookbalance | Provisionfordeclineinvalueofinventoriesorprovisionforimpairmentofcontractperformancecost | Bookvalue | |
Rawmaterial | 3,139,313,968.65 | 30,816,233.39 | 3,108,497,735.26 | 2,394,527,722.87 | 20,450,891.52 | 2,374,076,831.35 |
Productsinprocess | 2,047,580,192.49 | 31,348,190.65 | 2,016,232,001.84 | 1,329,809,441.89 | 5,410,657.68 | 1,324,398,784.21 |
Goodsonhand | 8,023,281,968.11 | 67,217,791.93 | 7,956,064,176.18 | 3,843,140,662.09 | 61,496,691.86 | 3,781,643,970.23 |
Revolvingmaterials | 57,309,755.00 | 2,374.56 | 57,307,380.44 | 49,272,045.90 | 15,000.03 | 49,257,045.87 |
Goodssold | 29,388,057.62 | 160,985.17 | 29,227,072.45 | 154,254,852.98 | 2,690,065.64 | 151,564,787.34 |
Materialsintransit | 42,757,516.88 | 0.00 | 42,757,516.88 | 1,567,293.31 | 0.00 | 1,567,293.31 |
Workinprocess-outsourced | 923,498.10 | 0.00 | 923,498.10 | 18,349,175.85 | 0.00 | 18,349,175.85 |
Total | 13,340,554,956.85 | 129,545,575.70 | 13,211,009,381.15 | 7,790,921,194.89 | 90,063,306.73 | 7,700,857,888.16 |
(2)Provisionfordeclineinvalueofinventoriesandprovisionforimpairmentofcontractperformancecost
InRMB
Item | OpeningBalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | ClosingBalance | ||
Provision | Other | Reversalorwriteoff | Other | |||
Rawmaterial | 20,450,891.52 | 13,458,112.74 | 0.00 | 3,020,592.33 | 72,178.54 | 30,816,233.39 |
Productsinprocess | 5,410,657.68 | 25,569,567.59 | 0.00 | 38,763.03 | -406,728.41 | 31,348,190.65 |
Goodsonhand | 61,496,691.86 | 23,877,877.36 | -143,411.45 | 17,145,550.61 | 867,815.23 | 67,217,791.93 |
Revolvingmaterials | 15,000.03 | -12,625.47 | 0.00 | 0.00 | 0.00 | 2,374.56 |
Goodssold | 2,690,065.64 | -2,529,080.47 | 0.00 | 0.00 | 0.00 | 160,985.17 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Total | 90,063,306.73 | 60,363,851.75 | -143,411.45 | 20,204,905.97 | 533,265.36 | 129,545,575.70 |
(3)Descriptionsonclosingbalanceofinventoriescontainingcapitalizedamountofborrowingcosts
(4)Descriptionsoncurrentamortizationamountofcontractperformancecosts
10.Contractassets
InRMB
Item | ClosingBalance | OpeningBalance | ||||
Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue |
Theamountofandreasonsforsignificantchangesinthebookvalueofcontractassetsinthecurrentperiod:
InRMB
Item | Changeamount | Reasonforchange |
Ifthebad-debtprovisionofcontractassetsismadeaccordingtothegeneralmodelofexpectedcreditloss,pleaserefertothedisclosuremethodofotherreceivablestodisclosetherelevantinformationofbaddebtprovision:
?Applicable√N/AProvisionforimpairmentofcontractassetsinthecurrentperiod
InRMB
Item | Provision | Reversal | Writeoff/cancellation | Reason |
Otherdescriptions:
11.Held-for-saleassets
InRMB
Item | Closingbookbalance | Provisionforimpairment | Closingbookvalue | Fairvalue | Estimateddisposalcosts | Estimateddisposaltime |
Otherdescriptions:
12.Currentportionofnon-currentassets
InRMB
Item | ClosingBalance | OpeningBalance |
Significantdebtinvestments/otherdebtinvestments
InRMB
Debtitem | ClosingBalance | OpeningBalance | ||||||
Facevalue | Couponrate | Effectiveinterestrate | Maturedate | Facevalue | Couponrate | Effectiveinterestrate | Maturedate |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Otherdescriptions:
13.Othercurrentassets
InRMB
Item | ClosingBalance | OpeningBalance |
Inputtaxtobededucted | 1,540,111,512.16 | 1,176,940,503.21 |
Incometaxprepaid | 257,446,420.71 | 286,319,473.87 |
Other | 6,927,712.62 | 21,191,174.65 |
Total | 1,804,485,645.49 | 1,484,451,151.73 |
Otherdescriptions:
14.Debtinvestments
InRMB
Item | ClosingBalance | OpeningBalance | ||||
Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue |
Significantdebtinvestments
InRMB
Debtitem | ClosingBalance | OpeningBalance | ||||||
Facevalue | Couponrate | Effectiveinterestrate | Maturedate | Facevalue | Couponrate | Effectiveinterestrate | Maturedate |
Provisionforimpairment
InRMB
Bad-debtprovision | StageI | StageII | StageIII | Total |
12-monthECL | LifetimeECL(withoutcreditimpaired) | LifetimeECL(withcreditunimpaired) | ||
BalanceasatJanuary1,2020inthecurrentperiod | —— | —— | —— | —— |
Changesinthebookbalanceoftheprovisionforlosswithsignificantamountofchangesinthecurrentperiod
□Applicable√N/AOtherdescriptions:
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
15.Otherdebtinvestments
InRMB
Item | Openingbalance | Accruedinterest | Changesinfairvalueinthecurrentperiod | Closingbalance | Cost | Cumulativechangesinfairvalue | Cumulativeprovisionforlossrecognizedinothercomprehensiveincome | Remarks |
Othersignificantdebtinvestments
InRMB
Otherdebtitem | ClosingBalance | OpeningBalance | ||||||
Facevalue | Couponrate | Effectiveinterestrate | Maturedate | Facevalue | Couponrate | Effectiveinterestrate | Maturedate |
Provisionforimpairment
InRMB
Bad-debtprovision | StageI | StageII | StageIII | Total |
12-monthECL | LifetimeECL(withcreditimpaired) | LifetimeECL(withcreditunimpaired) | ||
BalanceasatJanuary1,2020inthecurrentperiod | —— | —— | —— | —— |
Changesinthebookbalanceoftheprovisionforlosswithsignificantamountofchangesinthecurrentperiod
□Applicable√N/AOtherdescriptions:
16.Long-termreceivables
(1)Long-termreceivables
InRMB
Item | ClosingBalance | OpeningBalance | Discountraterange | ||||
Bookbalance | Bad-debtprovision | Bookvalue | Bookbalance | Bad-debtprovision | Bookvalue |
Impairmentofbad-debtprovision
InRMB
Bad-debtprovision | StageI | StageII | StageIII | Total |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
12-monthECL | LifetimeECL(withcreditimpaired) | LifetimeECL(withcreditunimpaired) | ||
BalanceasatJanuary1,2020inthecurrentperiod | —— | —— | —— | —— |
Changesinbookbalanceofprovisionforlosswithsignificantchangesinthecurrentperiod
□Applicable√N/A
(2)Long-termreceivablesderecognizedduetotransferoffinancialassets
(3)Amountofassetsandliabilitiesformedbytransferringlong-termreceivablesandcontinuinginvolvement
Otherdescriptions
17.Long-termequityinvestments
InRMB
Investee | Openingbalance(bookvalue) | Increaseanddecreaseinthecurrentperiod | Closingbalance(bookvalue) | Closingbalanceofprovisionforimpairment | |||||||
Additionalinvestment | Reducedinvestment | Investmentprofitorlossrecognizedunderequitymethod | Othercomprehensiveincomeadjustment | Otherchangesinequity | Declaredcashdividendsorprofits | Provisionforimpairment | Other | ||||
I.Jointventure | |||||||||||
RiyimaoIndustrialCo.,Ltd. | 77,160,654.68 | 18,394,906.69 | -374,657.21 | -8,758,307.43 | -185,657.72 | 86,236,939.01 | |||||
XuandeEnergyCo.,Ltd. | 454,220.23 | -453,732.03 | -488.20 | ||||||||
Subtotal | 77,614,874.91 | 17,941,174.66 | -374,657.21 | -8,758,307.43 | -186,145.92 | 86,236,939.01 | |||||
II.Associates | |||||||||||
SILICONCHSYSTEMSPRIVATELIMITED | 25,502,902.88 | -2,839,396.33 | 22,663,506.55 | ||||||||
ZhuhaiKinwongFlexibleCircuitCo.,Ltd. | 234,305,410.77 | 3,291,894.45 | 237,597,305.22 | 34,372,608.46 | |||||||
CaldigitHoldingLimited | 55,510,273.80 | 5,295,883.15 | -679,239.68 | -892,336.71 | 59,234,580.56 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
AssemTechnologyCo.,Ltd. | 55,251,818.12 | -1,405,798.82 | -18,304.30 | 26,148.20 | -57,944.76 | 53,795,918.44 | |||||
TaihanPrecisionCo.,Ltd. | 97,442,171.83 | -104,844.17 | 97,337,327.66 | ||||||||
ChangshuLizhenSmartTechnologyPartnership(LimitedPartnership) | 600,000,000.00 | 600,000,000.00 | |||||||||
VietnamMeilvLuxshareCo.,Ltd. | 83,531,280.00 | 2,516,084.31 | 86,047,364.31 | ||||||||
Subtotal | 259,808,313.65 | 891,735,543.75 | 6,858,666.76 | -697,543.98 | 26,148.20 | -1,055,125.64 | 1,156,676,002.74 | 34,372,608.46 | |||
Total | 337,423,188.56 | 891,735,543.75 | 24,799,841.41 | -1,072,201.19 | 26,148.20 | -8,758,307.43 | -1,241,271.56 | 1,242,912,941.75 | 34,372,608.46 |
Otherdescriptions
ChangshuLizhenSmartTechnologyPartnership(LimitedPartnership)wasjointlyestablishedbytheCompanyanditssubsidiaries,ChangshuLuxshareIndustrialInvestmentManagementCo.,Ltd.,andChangshuLuxshareCorporateManagementServicesPartnership(LimitedPartnership),inwhichtheCompanyandChangshuLuxshareCorporateManagementServicesPartnership(LimitedPartnership)arelimitedpartners,contributingRMB570millionandRMB5.4billionrespectively;theCompany’ssubsidiaryisageneralpartner,contributingRMB30million.Accordingtothepartnershipagreement,thepurposeofthepartnershipistoinvestinandacquiretargetsinthefieldofsystemassembly,caseassembly,andconsumerelectronics,orotherprojectsinChangshu;inrespectofpartnershipaffairpractice,themanagingpartnershallberesponsibleforday-to-dayaffairsofthepartnership,andhavetherighttoconcludecontractsandotheragreementsandcommitmentsonbehalfofthepartnershipinordertoachievethepartnershippurpose.Forprofitdistribution,exceptfortheagreeddistributionproportion,allinvestmentincomeobtainedbythepartnershipmaynotbereinvestedwithouttheconsentofallpartners,andtheoperatinglossesofthepartnershipshallbebornebyallpartnersinproportiontotheircapitalcontributions.Fortheabovereasons,theCompanydoesnotactuallycontroloverChangshuLizhenSmartTechnologyPartnership(LimitedPartnership),andthereforedoesnotincludeitinthescopeofconsolidation.
18.Otherinvestmentsinequityinstruments
InRMB
Item | ClosingBalance | OpeningBalance |
BeijingXloongTechnologiesCo.,Ltd. | 10,977,900.79 | 10,752,374.31 |
BeijingWiparkingTechnologyCo.,Ltd. | 9,150,443.30 | 8,789,652.45 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
JingtuoLiyinTechnology(Beijing)Co.,Ltd. | 3,724,908.43 | 3,675,044.01 |
ZhejiangTonyElectronicCo.,Ltd | 114,221,319.04 | 170,733,150.00 |
Total | 138,074,571.56 | 193,950,220.77 |
Itemizeddisclosureofnon-tradingequityinstrumentinvestmentsinthecurrentperiod
InRMB
Projectname | Recognizeddividendincome | Cumulativegains | Cumulativelosses | Amountofothercomprehensiveincomecarriedovertoretainedearnings | Reasonsforbeingdesignatedasequityinstrumentsatfairvaluethroughothercomprehensiveincome | Reasonsforcarry-overofothercomprehensiveincometoretainedearnings |
BeijingXloongTechnologiesCo.,Ltd. | 977,900.79 | Notforshort-termtradingpurposes | ||||
BeijingWiparkingTechnologyCo.,Ltd. | -849,556.70 | Notforshort-termtradingpurposes | ||||
JingtuoLiyinTechnology(Beijing)Co.,Ltd. | 724,908.43 | Notforshort-termtradingpurposes | ||||
ZhejiangTonyElectronicCo.,Ltd | 94,854,026.52 | 22,570,692.52 | Notforshort-termtradingpurposes | Disposalofpartialequities |
Otherdescriptions:
19.Othernon-currentfinancialassets
InRMB
Item | ClosingBalance | OpeningBalance |
Otherdescriptions:
20.Investmentproperties
(1)Investmentpropertiesmeasuredatcost
√Applicable□N/A
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
InRMB
Item | Buildings | Landuseright | Constructioninprogress | Total |
I.Originalcarryingamount | ||||
1.Openingbalance | 48,092,587.77 | 16,462,696.47 | 64,555,284.24 | |
2.Increaseinthecurrentperiod | 416,874.16 | 416,874.16 | ||
(1)Purchase | ||||
(2)Transferfrominventories\fixedassets\constructioninprogress | 416,874.16 | 416,874.16 | ||
(3)Increaseinbusinesscombination |
3.Decreaseinthecurrentperiod | 1,657,313.52 | 2,479,861.45 | 4,137,174.97 | |
(1)Disposal | 1,635,786.91 | 2,447,106.02 | 4,082,892.93 | |
(2)Othertransferout | 21,526.61 | 32,755.43 | 54,282.04 | |
Otherdecrease | ||||
4.Closingbalance | 46,852,148.41 | 13,982,835.02 | 60,834,983.43 | |
II.Accumulateddepreciationandamortization | ||||
1.Openingbalance | 11,898,806.50 | 11,898,806.50 | ||
2.Increaseinthecurrentperiod | 1,937,521.84 | 1,937,521.84 | ||
(1)Provisionoramortization | 1,937,521.84 | 1,937,521.84 |
3.Decreaseinthecurrentperiod | 593,455.15 | 593,455.15 | |
(1)Disposal | 586,057.33 | 586,057.33 | |
(2)Othertransferout | 7,397.82 | 7,397.82 |
4.Closingbalance | 13,242,873.19 | 13,242,873.19 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
III.Provisionforimpairment |
1.OpeningBalance |
2.Increaseinthecurrentperiod |
(1)Provision |
3.Decreaseinthecurrentperiod |
(1)Disposal |
(2)Othertransferout |
4.Closingbalance | ||||
IV.Bookvalue | ||||
1.Closingbalance | 33,609,275.22 | 13,982,835.02 | 47,592,110.24 | |
2.Openingbalance | 36,193,781.27 | 16,462,696.47 | 52,656,477.74 |
((2)Investmentpropertiesmeasuredatfairvalue
?Applicable√N/A
(3)Investmentpropertieswithouttitlecertificate
InRMB
Item | Bookvalue | Reasonsfornotobtainingthetitlecertificate |
Othernotes
21.Fixedassets
InRMB
Item | ClosingBalance | OpeningBalance |
Fixedassets | 19,761,012,854.95 | 13,707,298,535.36 |
Total | 19,761,012,854.95 | 13,707,298,535.36 |
(1)Fixedassets
InRMB
Item | Buildings | Officeequipment | Machineryequipment | Computerequipment | Auxiliaryproduction | Transportation | Otherequipment | Mouldequipment | Total |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
equipment | equipment | ||||||||
I.Originalcarryingamount | |||||||||
1.OpeningBalance | 4,544,013,678.10 | 156,341,023.99 | 8,181,591,674.43 | 125,793,925.18 | 1,454,366,545.86 | 43,266,776.57 | 1,553,202,096.75 | 1,250,190,928.04 | 17,308,766,648.92 |
2.Increaseinthecurrentperiod | 2,492,192,167.48 | 48,347,866.40 | 4,314,086,470.71 | 40,443,707.53 | 569,707,147.67 | 7,934,264.41 | 1,406,352,642.72 | 1,160,993,026.63 | 10,040,057,293.55 |
(1)Purchase | 1,376,914,445.58 | 47,371,263.44 | 3,710,468,499.89 | 39,983,029.14 | 504,361,471.28 | 7,926,608.05 | 1,402,523,140.31 | 1,104,246,919.00 | 8,329,831,867.42 |
(2)Transferinfromconstructioninprogress | 1,104,725,605.43 | 76,610.52 | 600,513,202.51 | 461,794.41 | 65,394,619.23 | 2,637,529.78 | 56,744,583.48 | 1,694,517,454.63 | |
(3)Increaseinbusinesscombination | 1,192,403.53 | 1,192,403.53 | |||||||
Other | 10,552,116.47 | 899,992.44 | 3,104,768.31 | -1,116.02 | -48,942.84 | 7,656.36 | -430.90 | 1,524.15 | 14,515,567.97 |
3.Decreaseinthecurrentperiod | 14,574,834.24 | 8,129,332.62 | 1,789,988,570.25 | 15,504,093.64 | 207,991,692.00 | 3,017,838.40 | 179,030,360.83 | 187,522,202.07 | 2,405,758,924.05 |
(1)Disposalorscrap | 4,734,995.24 | 6,993,109.39 | 1,287,833,063.55 | 15,388,508.94 | 207,846,950.28 | 2,905,349.27 | 178,244,446.32 | 187,451,181.22 | 1,891,397,604.21 |
Other | 9,839,839.00 | 1,136,223.23 | 502,155,506.70 | 115,584.70 | 144,741.72 | 112,489.13 | 785,914.51 | 71,020.85 | 514,361,319.84 |
4.ClosingBalance | 7,021,631,011.34 | 196,559,557.77 | 10,705,689,574.89 | 150,733,539.07 | 1,816,082,001.53 | 48,183,202.58 | 2,780,524,378.64 | 2,223,661,752.60 | 24,943,065,018.42 |
II.Accumulateddepreciation | |||||||||
1. | 699,447,771 | 63,593,544. | 1,430,353,1 | 40,297,931. | 374,257,195 | 20,728,806. | 473,785,977 | 431,843,198 | 3,534,307,5 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Openingbalance | .71 | 06 | 21.23 | 56 | .19 | 43 | .54 | .93 | 46.65 |
2.Increaseinthecurrentperiod | 259,995,232.86 | 28,329,216.99 | 895,638,952.13 | 20,651,189.65 | 247,118,761.61 | 4,987,517.73 | 378,515,628.73 | 388,140,993.58 | 2,223,377,493.28 |
(1)Provision | 253,562,583.58 | 27,590,506.72 | 890,016,029.45 | 20,749,387.24 | 247,192,980.04 | 4,979,361.94 | 378,280,200.82 | 388,139,528.62 | 2,210,510,578.41 |
Other | 6,432,649.28 | 738,710.27 | 5,622,922.68 | -98,197.59 | -74,218.43 | 8,155.79 | 235,427.91 | 1,464.96 | 12,866,914.87 |
3.Decreaseinthecurrentperiod | 3,060,287.77 | 4,845,104.83 | 399,134,860.42 | 5,409,087.04 | 70,251,075.09 | 1,624,321.34 | 79,177,957.74 | 89,489,851.58 | 652,992,545.81 |
(1)Disposalorscrap | 1,779,929.69 | 4,599,344.73 | 336,142,693.31 | 5,372,392.83 | 35,677,962.98 | 1,607,891.93 | 79,112,373.52 | 86,344,097.74 | 550,636,686.73 |
Other | 1,280,358.08 | 245,760.10 | 62,992,167.11 | 36,694.21 | 34,573,112.11 | 16,429.41 | 65,584.22 | 3,145,753.84 | 102,355,859.08 |
4.ClosingBalance | 956,382,716.80 | 87,077,656.22 | 1,926,857,212.94 | 55,540,034.17 | 551,124,881.71 | 24,092,002.82 | 773,123,648.53 | 730,494,340.93 | 5,104,692,494.12 |
III.Provisionforimpairment | |||||||||
1.OpeningBalance | 1,832,839.19 | 23,065,704.76 | 24,706.94 | 2,857,463.43 | 42,534.87 | 16,267,714.79 | 23,069,602.93 | 67,160,566.91 | |
2.Increaseinthecurrentperiod | 8,390.80 | 81,189,350.05 | 17,490.44 | 524,635.23 | -42,534.87 | -4,462,197.74 | 1,689,925.38 | 78,925,059.29 | |
(1)Provision | 8,390.80 | 80,987,860.48 | 17,490.44 | 524,635.23 | -42,534.87 | -4,462,197.74 | 1,689,925.38 | 78,723,569.72 | |
Other | 201,489.57 | 201,489.57 | |||||||
3.Decreaseinthecurrentperiod | 34,548.67 | 56,283,660.26 | 11,041.09 | 818,658.55 | 11,191,869.73 | 386,178.55 | 68,725,956.85 | ||
(1)Disposalor | 34,548.67 | 56,283,660.26 | 11,041.09 | 818,658.55 | 11,191,869.73 | 386,178.55 | 68,725,956.85 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
scrap | |||||||||
Other | |||||||||
4.Closingbalance | 1,806,681.32 | 47,971,394.55 | 31,156.29 | 2,563,440.11 | 613,647.32 | 24,373,349.76 | 77,359,669.35 | ||
IV.Bookvalue | |||||||||
1.Closingbalance | 6,065,248,294.54 | 107,675,220.23 | 8,730,860,967.40 | 95,162,348.61 | 1,262,393,679.71 | 24,091,199.76 | 2,006,787,082.79 | 1,468,794,061.91 | 19,761,012,854.95 |
2.Openingbalance | 3,844,565,906.39 | 90,914,640.74 | 6,728,172,848.44 | 85,471,286.68 | 1,077,251,887.24 | 22,495,435.27 | 1,063,148,404.42 | 795,278,126.18 | 13,707,298,535.36 |
(2)Temporarilyidlefixedassets
InRMB
Item | Originalcarryingamount | Accumulateddepreciation | Provisionforimpairment | Bookvalue | Remarks |
(3)Fixedassetsleasedinthroughfinancelease
InRMB
Item | Originalcarryingamount | Accumulateddepreciation | Provisionforimpairment | bookvalue |
(4)Fixedassetsleasedoutthroughoperatinglease
(5)Fixedassetswithouttitlecertificate
InRMB
Item | Bookvalue | Reasonsfornotobtainingthetitlecertificate |
Workshop,officeanddormitorybuildingsofFujianJK | 10,115,951.99 | Note1 |
PrecisionmachineryworkshopofBoshuoElectronics | 6,089,484.25 | Newlybuilt;thecertificateisinprocess |
NewhousesandbuildingsofLuxshareElectronicKunshan | 385,256,993.67 | Newlybuilt;thecertificateisinprocess |
ChangshuLuxshareFactoryandAuxiliaryBuildingProject | 313,734,239.12 | Newlybuilt;thecertificateisinprocess |
Item | Closingbookvalue |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
NewDormitoryofZhejiangIntelligentManufacture | 133,995,943.37 | Newlybuilt;thecertificateisinprocess |
CadreTrainingCenterofMeiteTechnology(Suzhou)Co.,Ltd. | 1,443,777.51 | Newlybuilt;thecertificateisinprocess |
PlantandDormitoryforJiangxiIntelligentManufacture | 427,715,309.33 | Newlybuilt;thecertificateisinprocess |
ComplexBuildingandDormitoryofDongguanLuxshare | 151,693,631.20 | Newlybuilt;thecertificateisinprocess |
Otherdescriptions
Note1:Thelandoccupiedbythestaffdormitoryisinnatureanallottedland,theuserightofwhichwasacquiredbytheCompanybymeansoftransferthroughagreementinlinewithrelevantregulationsatthattime.Thepropertytitleformedbasedontheallottedlanduserightisnotallowedtobetransferredunlesstheallocatedlanduserightisconvertedtopaidlanduseright.However,theexistinglanduserightcannotbetransferredbyagreement,asaresultofwhichthepropertytitletothestaffdormitorybuildinghasnotbeentransferredtoFujianJK.
(6)Disposaloffixedassets
InRMB
Item | ClosingBalance | OpeningBalance |
Otherdescriptions
22.Constructioninprogress
InRMB
Item | ClosingBalance | OpeningBalance |
Constructioninprogress | 1,596,064,894.58 | 865,549,438.56 |
Total | 1,596,064,894.58 | 865,549,438.56 |
(1)Constructioninprogress
InRMB
Item | ClosingBalance | OpeningBalance | ||||
Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
Workshopconstruction | 1,311,923,496.51 | 1,311,923,496.51 | 646,783,362.29 | 646,783,362.29 | ||
Mouldimprovement | 4,759,515.63 | 4,759,515.63 | 32,471,966.51 | 32,471,966.51 | ||
Equipment | 145,475,258.95 | 145,475,258.95 | 184,343,732.88 | 184,343,732.88 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
installationengineering | ||||||
Other | 133,906,623.49 | 133,906,623.49 | 1,950,376.88 | 1,950,376.88 | ||
Total | 1,596,064,894.58 | 1,596,064,894.58 | 865,549,438.56 | 865,549,438.56 |
(2)Changesinsignificantconstructionsinprogressforthecurrentperiod
InRMB
Projectname | Budget | Openingbalance | Increaseinthecurrentperiod | Amounttransferredtofixedassetsinthecurrentperiod | Otherdecreaseinthecurrentperiod | Closingbalance | Proportionofaccumulatedprojectinvestmentinbudget | Projectprogress | Amountofaccumulatedcapitalizedinterest | Including:Amountofcurrentcapitalizedinterest | Currentinterestcapitalizationrate | Sourceoffunds |
ChangshuLuxshareworkshopconstruction | 786,917,140.87 | 643,399,268.56 | 277,048,598.87 | 2,175,096.00 | 364,175,573.69 | 81.76% | 81.76 | |||||
DongguanLuxshareworkshopconstruction | 1,000,000,000.00 | 168,993,660.03 | 101,006,322.64 | 197,298,704.82 | 72,701,277.85 | 95.00% | 95.00 | Fundsfromequityfinancing | ||||
WorkshopProject | 500,000,000.00 | 83,849,433.44 | 207,418,190.22 | 5,615,836.45 | 5,807,816.60 | 279,843,970.61 | 58.25% | 58.25 | ||||
IntelligentManufactureJiangxiworkshopconstruction | 1,082,665,773.12 | 189,572,791.91 | 1,204,150.95 | 101,233,151.33 | 89,543,791.53 | 75.00% | 80.00 | Fundsfromequityfinancing | ||||
Zhejiangintelligentmanufacturingworkshopconstruction | 144,730,000.00 | 15,602,124.80 | 226,829,927.62 | 242,432,052.42 | 100.00% | 100.00 | ||||||
YunzhongphaseI | 1,700,000,000.00 | 87,679,914.12 | 28,170,000.00 | 87,679,914.12 | 28,170,000.00 | 80.00% | 80.00 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
andphaseIIworkshopconstruction | ||||||||||
Yi’anprojectconstruction | 660,786,440.65 | 80,220,457.42 | 424,517,985.48 | 138,057,144.69 | 5,193,555.51 | 361,487,742.70 | 76.38% | 76.38 | ||
Total | 5,875,099,354.64 | 625,918,381.72 | 1,632,545,845.47 | 1,049,365,402.70 | 13,176,468.11 | 1,195,922,356.38 | -- | -- | -- |
(3)Provisionforimpairmentofconstructioninprogressforthecurrentperiod
InRMB
Item | Currentprovisionamount | Reasonsforprovision |
Otherdescriptions
(4)Engineeringmaterials
InRMB
Item | ClosingBalance | OpeningBalance | ||||
Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue |
Otherdescriptions:
23.Bearerbiologicalassets
(1)Bearerbiologicalassetsmeasuredatcost?Applicable√N/A
(2)Bearerbiologicalassetsmeasuredatfairvalue?Applicable√N/A
24.Oilandgasassets?Applicable√N/A
25.Right-of-useassets
InRMB
Item | Total |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Othernotes:
26.Intangibleassets
(1)Intangibleassets
InRMB
Item | Landuseright | Patentright | Non-patenttechnology | Software | Other | Total |
I.Originalcarryingamount | ||||||
1.Openingbalance | 1,022,608,330.65 | 1,771,459.90 | 71,902,729.82 | 16,318,959.18 | 42,059,231.19 | 1,154,660,710.74 |
2.Increaseinthecurrentperiod | 257,568,074.66 | 77,940.05 | 17,144,353.16 | 109,894,112.81 | 384,684,480.68 | |
(1)Purchase | 257,442,863.77 | 66,981.13 | 17,073,890.16 | 109,889,559.91 | 384,473,294.97 | |
(2)InternalR&D | ||||||
(3)Increaseinbusinesscombination | ||||||
Other | 125,210.89 | 10,958.92 | 70,463.00 | 4,552.90 | 211,185.71 | |
3.Decreaseinthecurrentperiod | 101,574,187.62 | 921,331.82 | 2,140,160.48 | -341,853.96 | 21,388.19 | 104,315,214.15 |
(1)Disposal | 14,198,228.54 | 486,066.04 | 1,276,656.56 | 60,344.86 | 16,021,296.00 | |
Decreaseinbusinesscombination | 62,418,000.00 | 62,418,000.00 | ||||
Other | 24,957,959.08 | 435,265.78 | 863,503.92 | -402,198.82 | 21,388.19 | 25,875,918.15 |
4.ClosingBalance | 1,178,602,217.69 | 928,068.13 | 86,906,922.50 | 126,554,925.95 | 42,037,843.00 | 1,435,029,977.27 |
II.Accumulatedamortization | ||||||
1.OpeningBalance | 66,801,559.21 | 717,432.77 | 31,090,251.01 | 6,196,585.34 | 2,129,036.88 | 106,934,865.21 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
2.Increaseinthecurrentperiod | 22,720,572.80 | 84,456.51 | 18,392,710.88 | 22,013,583.55 | 3,645,854.39 | 66,857,178.13 |
(1)Provision | 22,720,572.80 | 74,790.68 | 18,328,216.88 | 22,011,767.67 | 3,645,854.39 | 66,781,202.42 |
Other | 9,665.83 | 64,494.00 | 1,815.88 | 75,975.71 | ||
3.Decreaseinthecurrentperiod | 2,073,254.46 | 203,138.67 | 1,764,307.81 | -125,490.23 | 8,065.01 | 3,923,275.72 |
(1)Disposal | 287,912.59 | 20,252.80 | 1,241,156.17 | 10,057.49 | 1,559,379.05 | |
Decreaseinbusinesscombination | 1,456,420.00 | 1,456,420.00 | ||||
Other | 328,921.87 | 182,885.87 | 523,151.64 | -135,547.72 | 8,065.01 | 907,476.67 |
4.ClosingBalance | 87,448,877.55 | 598,750.61 | 47,718,654.08 | 28,335,659.12 | 5,766,826.26 | 169,868,767.62 |
III.Provisionforimpairment | ||||||
1.OpeningBalance | ||||||
2.Increaseinthecurrentperiod | ||||||
(1)Provision | ||||||
Other | ||||||
3.Decreaseinthecurrentperiod | ||||||
(1)Disposal | ||||||
Other | ||||||
4.ClosingBalance | ||||||
IV.Bookvalue | ||||||
1.Closingbalance | 1,091,153,340.14 | 329,317.52 | 39,188,268.42 | 98,219,266.83 | 36,271,016.74 | 1,265,161,209.65 |
2.Opening | 955,806,771.44 | 1,054,027.13 | 40,812,478.81 | 10,122,373.84 | 39,930,194.31 | 1,047,725,845.53 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
TheproportionofintangibleassetsformedthroughinternalR&Dinthebalanceofintangibleassetsattheendofthisperiod.
(2)Landuserightwithouttitlecertificate
InRMB
balance
Item
Item | Bookvalue | Reasonsfornotobtainingthetitlecertificate |
Otherdescriptions:
27.Developmentexpenditure
InRMB
Item | OpeningBalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | ClosingBalance | ||||
Internaldevelopmentexpenditure | Other | Recognizedasintangibleassets | Convertedtocurrentprofitorloss |
Otherdescriptions
28.Goodwill
(1)Originalcarryingamountofgoodwill
InRMB
TotalInvesteenameoreventforminggoodwill
Investeenameoreventforminggoodwill | OpeningBalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | ClosingBalance | ||
Formedbybusinesscombination | Other | Disposal | Other | |||
ASAPTechnology(Jiangxi)Co.,Ltd. | 42,325,745.85 | 42,325,745.85 | ||||
LantoElectronicLimited | 376,682,429.24 | 376,682,429.24 | ||||
BozhouLantoElectronicLimited | 9,564,372.61 | 9,564,372.61 | ||||
M&Aof | 53,174,339.31 | 53,174,339.31 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
KERTONGgoodwill | ||||
FujianJKWiringSystemsCo.,Ltd. | 17,717,209.29 | 17,717,209.29 | ||
HuzhouJiudingElectronicCo.,Ltd. | 1,730,318.45 | 1,730,318.45 | ||
SpeedTechCorp. | 26,656,146.69 | 26,656,146.69 | ||
LuxshareElectronicTechnology(Kunshan)Co.,Ltd. | 4,582,880.91 | 4,582,880.91 | ||
SukkunststofftechnikGmbH | 9,552,894.63 | 9,552,894.63 | ||
MeiteTechnology(Suzhou)Co.,Ltd. | 8,570,588.06 | 8,570,588.06 | ||
MeilvElectronic(Huizhou)Co.,Ltd. | 6,575,713.14 | 6,575,713.14 | ||
MeilvElectronics(Shanghai)Co.,Ltd. | 454,304.97 | 454,304.97 | ||
WuxiHuihongElectronicCo.,Ltd. | 3,102,735.14 | 3,102,735.14 | ||
CastleRock,Inc. | 8,303,254.98 | 8,303,254.98 | ||
TaiqiaoInvestmentCo.,Ltd. | 441,595.93 | 441,595.93 | ||
Total | 568,992,933.27 | 441,595.93 | 569,434,529.20 |
(2)Provisionforimpairmentofgoodwill
InRMB
Investeenameoreventforming | OpeningBalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | ClosingBalance | ||
Provision | Other | Disposal | Other |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
goodwill | |||
MeiteTechnology(Suzhou)Co.,Ltd. | 8,570,588.06 | 8,570,588.06 | |
SukkunststofftechnikGmbH | 9,552,894.63 | 9,552,894.63 | |
MeilvElectronics(Shanghai)Co.,Ltd. | 454,304.97 | 454,304.97 | |
FujianJKWiringSystemsCo.,Ltd. | 17,717,209.29 | 17,717,209.29 | |
Total | 36,294,996.95 | 36,294,996.95 |
RelevantinformationonassetgrouporsetofassetgroupstowhichthegoodwillbelongsDescriptionsonthegoodwillimpairmenttestprocess,keyparameters(suchasthegrowthrateintheforecastperiod,thegrowthrateinthestableperiod,theprofitrate,thediscountrate,theforecastperiod,etc.,whenforecastingthepresentvalueoffuturecashflow)andtherecognitionmethodofgoodwillimpairmentloss
ThegoodwilloftheCompanyisformedbybusinesscombinationsnotinvolvingenterprisesundercommoncontrolinpreviousyearsandthisyear.Onthebalancesheetdate,theCompanyconductedimpairmenttestsongoodwill.Therecoverableamountoftheassetgroupinvolvedingoodwillisdeterminedaccordingtothepresentvalueofthefuturecashflowoftheassetgroupandthenetrealizablevalue.Themanagementdeterminesthegrowthrateandgrossmarginbasedonthemacromarketenvironment,historicalexperienceandthedevelopmentstageforecastofproductsegmentsinvolvedindifferentassetgroups.Dependingonthedifferentassetgroupsinvolved,thegrowthrateusedintheforecastforthecurrentyearis1.00%-25.00%,thegrossmarginis13.00%-23.81%,andthediscountrateis10.75%-12.01%.Theparametersusedingoodwillimpairmenttestofmajorassetgroupsareasfollows:
Assetgroupname | Grossmargin | Growthrate | Discountrate |
ASAPTechnology(Jiangxi)Co.,Ltd. | 18%-19.48% | 1.4%-1.6% | 10.75% |
LantoElectronicLimited | 22.00%-23.81% | 10.00%-10.82% | 11.25% |
ShenzhenKertongIndustrialCo.,Ltd. | 22%-23% | 23.00%-24.9% | 12.01% |
InfluenceofgoodwillimpairmenttestOtherdescriptions
29.Long-termprepaidexpenses
InRMB
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Item | OpeningBalance | Increaseinthecurrentperiod | Amortizationamountinthecurrentperiod | Otherreducedamount | ClosingBalance |
Houserepairfee | 301,886,866.87 | 228,173,592.60 | 105,277,059.74 | 424,783,399.73 | |
Other | 50,155,584.53 | 45,458,799.06 | 32,310,738.35 | 63,303,645.24 | |
Total | 352,042,451.40 | 273,632,391.66 | 137,587,798.09 | 488,087,044.97 |
Otherdescriptions
30.Deferredincometaxassets/deferredincometaxliabilities
(1)Deferredincometaxassetsthatarenotoffset
InRMB
Item | ClosingBalance | OpeningBalance | ||
Deductibletemporarydifferences | Deferredincometaxassets | Deductibletemporarydifferences | Deferredincometaxassets | |
Provisionforimpairmentofassets | 178,973,738.82 | 27,259,356.59 | 106,187,235.36 | 16,759,791.66 |
Deductiblelosses | 1,093,128,995.53 | 151,850,386.35 | 157,932,162.92 | 15,959,512.69 |
Exchangedifferencesofforeignoperations | 27,288,912.60 | 5,457,782.50 | 26,415,900.11 | 5,283,180.10 |
Unrealizedprofitofinternaltransaction | 197,095,777.59 | 29,564,366.64 | 170,180,940.60 | 25,527,141.08 |
Non-leavebonus | 1,773,724.21 | 354,744.89 | 1,749,973.08 | 349,994.62 |
Valuationofderivativefinancialinstruments | 960,650.06 | 144,097.51 | ||
Governmentgrants | 396,003,023.27 | 70,194,455.38 | 232,487,846.06 | 35,768,155.06 |
Share-basedpayment | 390,170,003.29 | 67,974,211.12 | 241,604,404.52 | 38,422,671.30 |
Other | 15,122,457.21 | 3,179,130.74 | 5,732,001.17 | 1,260,646.35 |
Total | 2,299,556,632.52 | 355,834,434.21 | 943,251,113.88 | 139,475,190.37 |
(2)Deferredincometaxliabilitiesthatarenotoffset
InRMB
Item | ClosingBalance | OpeningBalance | ||
Taxabletemporarydifference | Deferredtaxincomeliabilities | Taxabletemporarydifference | Deferredtaxincomeliabilities | |
Assetsvaluationappreciationofbusiness | 93,903,990.20 | 16,054,921.33 | 99,810,634.68 | 16,786,151.78 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
combinationnotinvolvingenterprisesundercommoncontrol | ||||
Changesinfairvalueofotherinvestmentsinequityinstruments | 95,831,927.34 | 14,374,789.10 | 148,985,524.31 | 22,234,972.50 |
Accelerateddepreciationoffixedassets | 5,363,997,971.61 | 806,120,054.47 | 3,405,624,697.88 | 511,670,187.93 |
Supportfundsallocatedbythegovernment | 15,046,630.73 | 2,256,994.61 | 15,434,326.67 | 2,315,149.00 |
Accumulativerecognitionofoverseasinvestmentinterestsbyequitymethod | 342,518,297.34 | 68,503,659.35 | 205,334,910.98 | 41,066,982.12 |
Prepaidpension | 4,849,056.41 | 969,811.28 | 4,606,433.66 | 921,286.73 |
Allowanceforbaddebtoverrun | 682,946.59 | 136,589.23 | 663,432.19 | 132,686.44 |
Valuationofderivativefinancialinstruments | 320,117,316.21 | 48,017,597.53 | 14,537,134.42 | 2,311,933.44 |
Other | 51,621,287.35 | 9,657,796.05 | 3,129,960.92 | 745,043.06 |
Total | 6,288,569,423.78 | 966,092,212.95 | 3,898,127,055.71 | 598,184,393.00 |
(3)Deferredincometaxassetsorliabilitiespresentedinnetamountafteroffsetting
InRMB
Item | Offsetamountbetweendeferredtaxassetsandliabilitiesattheendoftheperiod | Closingbalanceofdeferredtaxassetsorliabilitiesafteroffset | Offsetamountbetweendeferredtaxassetsandliabilitiesatthebeginningoftheperiod | Openingbalanceofdeferredtaxassetsorliabilitiesafteroffset |
Deferredtaxassets | 355,834,434.21 | 139,475,190.37 | ||
Deferredtaxliabilities | 966,092,212.95 | 598,184,393.00 |
(4)Detailsofunrecognizeddeferredincometaxassets
InRMB
Item | ClosingBalance | OpeningBalance |
(5)Thedeductiblelossesofunrecognizeddeferredincometaxassetswillbedueinthefollowingyears
InRMB
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Particularyear | Closingamount | Openingamount | Remarks |
Otherdescriptions:
31.Othernon-currentassets
InRMB
Item | ClosingBalance | OpeningBalance | ||||
Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
Prepaymentsforequipment,projectandland | 1,212,186,290.84 | 1,212,186,290.84 | 1,422,892,638.91 | 1,422,892,638.91 | ||
Prepaidpension | 4,849,056.41 | 4,849,056.41 | 4,606,433.66 | 4,606,433.66 | ||
Other | 6,164,295.36 | 6,164,295.36 | 5,067,455.80 | 5,067,455.80 | ||
Total | 1,223,199,642.61 | 1,223,199,642.61 | 1,432,566,528.37 | 1,432,566,528.37 |
Otherdescriptions:
32.Short-termborrowings
(1)ClassificationofShort-termborrowings
InRMB
Item | ClosingBalance | OpeningBalance |
Pledgeloans | 5,382,006,847.47 | 2,231,288,461.26 |
Mortgageloans | 80,950,818.66 | 41,868,000.00 |
Guaranteedloans | 871,234,184.03 | 844,714,453.79 |
Creditloans | 1,242,876,948.33 | 1,048,431,308.12 |
Total | 7,577,068,798.49 | 4,166,302,223.17 |
Descriptionsonclassificationofshort-termborrowings:
(2)Overduebutunpaidshort-termborrowings
Thetotalamountofoverduebutunpaidshort-termborrowingsattheendoftheperiodisRMB,ofwhichthesignificantoverdueandoutstandingshort-termborrowingsareasfollows:
InRMB
Borrower | ClosingBalance | Loaninterestrate | Overduetime | Overdueinterestrate |
Otherdescriptions:
33.Held-for-tradingfinancialliabilities
InRMB
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Item | ClosingBalance | OpeningBalance |
Held-for-tradingfinancialliabilities | 1,001,553.00 | |
Including: | ||
Derivativefinancialliabilities | 1,001,553.00 | |
Including: | ||
Total | 1,001,553.00 |
Otherdescriptions:
34.Derivativefinancialliabilities
InRMB
Item | ClosingBalance | OpeningBalance |
Otherdescriptions:
35.Notespayable
InRMB
Category | ClosingBalance | OpeningBalance |
Commercialacceptancebill | 280,012.21 | |
Bankacceptancebill | 128,292,099.33 | 206,496,660.20 |
Total | 128,572,111.54 | 206,496,660.20 |
ThetotalamountofnotespayableduebutunpaidattheendofthisperiodisRMB.
36.Accountspayable
(1)Presentationofaccountspayable
InRMB
Item | ClosingBalance | OpeningBalance |
Withinoneyear | 23,001,670,496.95 | 17,254,624,115.62 |
Onetotwoyears | 48,074,585.64 | 6,716,724.96 |
Twotothreeyears | 777,315.18 | 5,634,282.62 |
Morethanthreeyears | 1,035,206.06 | 1,248,056.96 |
Total | 23,051,557,603.83 | 17,268,223,180.16 |
(2)Significantaccountspayablewithagingover1year
InRMB
Item | ClosingBalance | Reasonsfornon-paymentorcarryingforward |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Entity1 | 7,060,756.36 | Unsettled |
Entity2 | 5,047,010.15 | Unsettled |
Entity3 | 3,607,807.50 | Unsettled |
Entity4 | 3,262,450.00 | Unsettled |
Entity5 | 1,213,928.00 | Unsettled |
Total | 20,191,952.01 | -- |
Otherdescriptions:
37.Receiptsinadvance
(1)Presentationofreceiptsinadvance
InRMB
Item | ClosingBalance | OpeningBalance |
Withinoneyear | 100,037,449.20 | |
Onetotwoyears | 1,511,930.01 | |
Twotothreeyears | 60,000.00 | |
Total | 101,609,379.21 |
(2)Significantreceiptsinadvancewithagingover1year
InRMB
Item | ClosingBalance | Reasonsfornon-paymentorcarryingforward |
38Contractliabilities
InRMB
Item | ClosingBalance | OpeningBalance |
Goodspaymentsreceivedinadvance | 152,512,971.36 | 0.00 |
Total | 152,512,971.36 |
Amountofandreasonforsignificantchangesinbookvalueduringthereportingperiod
InRMB
Item | Changeamount | Reasonforchange |
39.Employeebenefitspayable
(1)Presentationofemployeebenefitspayable
InRMB
Item | OpeningBalance | Increase | Decrease | ClosingBalance |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
I.Short-termcompensation | 1,390,049,933.20 | 11,477,740,914.72 | 11,505,531,953.21 | 1,362,258,894.71 |
II.Postemploymentbenefits-definedcontributionplan | 33,268,964.54 | 485,266,194.82 | 483,260,369.76 | 35,274,789.60 |
III.Terminationbenefits | 98,454.92 | 591,254.58 | 591,254.58 | 98,454.92 |
Total | 1,423,417,352.66 | 11,963,598,364.12 | 11,989,383,577.55 | 1,397,632,139.23 |
(2)Presentationofshort-termcompensation
InRMB
Item | OpeningBalance | Increase | Decrease | ClosingBalance |
1.Salary,bonus,allowanceandsubsidy | 1,365,911,504.54 | 10,958,962,160.01 | 10,994,429,770.55 | 1,330,443,894.00 |
2.Employeewelfare | 3,907,968.78 | 34,061,821.66 | 34,340,075.18 | 3,629,715.26 |
3.Socialinsurancepremium | 17,649,747.03 | 282,229,522.08 | 276,586,215.52 | 23,293,053.59 |
Including:Medicalinsurancepremium | 14,227,803.13 | 248,781,884.09 | 243,271,856.50 | 19,737,830.72 |
Employmentinjuryinsurancepremium | 2,199,252.97 | 14,298,209.61 | 14,300,381.86 | 2,197,080.72 |
Maternityinsurancepremium | 1,222,690.93 | 19,149,428.38 | 19,013,977.16 | 1,358,142.15 |
4.Housingprovidentfund | 653,763.92 | 195,028,615.11 | 194,709,518.91 | 972,860.12 |
5.Tradeunionfundsandstaffeducationfunds | 914,416.01 | 5,858,895.26 | 5,225,816.10 | 1,547,495.17 |
6.Othershort-termcompensation | 1,012,532.92 | 1,599,900.60 | 240,556.95 | 2,371,876.57 |
Total | 1,390,049,933.20 | 11,477,740,914.72 | 11,505,531,953.21 | 1,362,258,894.71 |
(3)Presentationofdefinedcontributionplan
InRMB
Item | OpeningBalance | Increase | Decrease | ClosingBalance |
1.Basicendowmentinsurancepremium | 32,460,745.49 | 459,483,031.72 | 457,500,084.73 | 34,443,692.48 |
2.Unemployment | 808,219.05 | 25,783,163.10 | 25,760,285.03 | 831,097.12 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
insurancepremium | ||||
Total | 33,268,964.54 | 485,266,194.82 | 483,260,369.76 | 35,274,789.60 |
Otherdescriptions:
40.Taxespayable
InRMB
Item | ClosingBalance | OpeningBalance |
Valueaddedtax | 51,405,224.41 | 22,190,181.00 |
Enterpriseincometax | 61,775,887.49 | 123,745,112.07 |
Individualincometax | 21,229,322.95 | 70,495,128.22 |
Urbanmaintenanceandconstructiontax | 39,628,090.50 | 49,444,922.13 |
Propertytax | 9,463,498.94 | 6,764,746.33 |
Educationsurcharges | 24,409,566.22 | 29,750,942.00 |
Landusetax | 2,197,387.91 | 1,632,262.33 |
Localeducationsurcharges | 15,752,322.98 | 19,851,689.12 |
Stampduty | 6,904,466.32 | 2,724,640.80 |
Other | 4,655,723.91 | 1,033,698.68 |
Total | 237,421,491.63 | 327,633,322.68 |
Otherdescriptions:
41.Otherpayables
InRMB
Item | ClosingBalance | OpeningBalance |
Interestpayable | 6,097,484.73 | |
Otherpayables | 146,162,097.14 | 346,292,787.04 |
Total | 146,162,097.14 | 352,390,271.77 |
(1)Interestpayable
InRMB
Item | ClosingBalance | OpeningBalance |
Interestonlong-termborrowingswithinterestpaidininstallmentsandprincipalrepayableatmaturity | 624,916.67 | |
Corporatebondinterest | 290,958.90 | |
Interestpayableonshort-termborrowings | 5,181,609.16 |
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Total | 6,097,484.73 |
Significantoverduebutunpaidinterest:
InRMB
Borrower | Overdueamount | Reasonsfordelay |
Otherdescriptions:
(2)Dividendspayable
InRMB
Item | ClosingBalance | OpeningBalance |
Otherdescriptions:itisrequiredtodisclosethereasonsiftherearekeydividendspayablethathavenotbeenpaidformorethan1year.
(3)Otherpayables
1)Presentationofotherpayablesbynature
InRMB
Item | ClosingBalance | OpeningBalance |
Within1year | 144,334,594.60 | 324,372,366.62 |
1-2years | 622,251.94 | 20,753,622.69 |
2-3years | 410,000.00 | 966,797.73 |
Over3years | 795,250.60 | 200,000.00 |
Total | 146,162,097.14 | 346,292,787.04 |
2)Othersignificantaccountspayableagedover1year
InRMB
Item | ClosingBalance | Reasonsfornon-paymentorcarryingforward |
Otherdescriptions
42.Held-for-saleliabilities
InRMB
Item | ClosingBalance | OpeningBalance |
Otherdescriptions:
43.Non-currentliabilitiesduewithinoneyear
InRMB
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Item | ClosingBalance | OpeningBalance |
Long-termborrowingsduewithinoneyear | 278,527,714.63 | 366,537,115.41 |
Total | 278,527,714.63 | 366,537,115.41 |
Otherdescriptions:
44.Othercurrentliabilities
InRMB
Item | ClosingBalance | OpeningBalance |
Short-termbondspayable | 508,715,277.78 | 500,000,000.00 |
Government-backedfund | 57,000,000.00 | 115,000,000.00 |
OutputVATtobelevied | 17,673,149.75 | |
Other | 39,869,128.36 | 31,115,152.49 |
Total | 623,257,555.89 | 646,115,152.49 |
Increaseanddecreaseinshort-termbondspayable:
InRMB
Bondname | Facevalue | Issuedate | Bondmaturity | Amountofissue | Openingbalance | Currentissue | Interestaccruedatfacevalue | Amortizationofpremiumanddiscount | Currentrepayment | ClosingBalance | |
Short-termbondspayable | 100.00 | December26,2019 | 270days | 500,000,000.00 | 500,000,000.00 | 13,057,377.05 | 513,057,377.05 | ||||
Short-termbondspayable | 100.00 | March05,2020 | 270days | 1,000,000,000.00 | 1,000,000,000.00 | 21,452,054.79 | 1,021,452,054.79 | ||||
Short-termbondspayable | 100.00 | April24,2020 | 270days | 500,000,000.00 | 500,000,000.00 | 8,715,277.78 | 508,715,277.78 | ||||
Total | -- | -- | -- | 2,000,000,000.00 | 500,000,000.00 | 1,500,000,000.00 | 43,224,709.62 | 1,534,509,431.84 | 508,715,277.78 |
Otherdescriptions:
45.Long-termborrowings
(1)Classificationoflong-termborrowings
InRMB
Item | ClosingBalance | OpeningBalance |
Pledgeloans | 1,878,341.29 | 1,949,694.88 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Mortgageloans | 1,301,034,722.05 | 1,527,173,950.10 |
Creditloans | 192,286,175.07 | 33,785,179.32 |
Total | 1,495,199,238.41 | 1,562,908,824.30 |
Descriptionsonclassificationoflong-termborrowings:
Otherdescriptions,includinginterestraterange:
46.Bondspayable
(1)Bondspayable
InRMB
Item | ClosingBalance | OpeningBalance |
Convertiblebonds | 2,475,423,249.98 | |
Total | 2,475,423,249.98 |
(2)Increaseanddecreaseinbondspayable(excludingpreferredshares,perpetualbondsandotherfinancialinstrumentsclassifiedasfinancialliabilities)
InRMB
Bondname | Facevalue | Issuedate | Bondmaturity | Amountofissue | Openingbalance | Currentissue | Interestaccruedatfacevalue | Amortizationofpremiumanddiscount | Currentrepayment | ClosingBalance | |
ConvertiblebondsofLuxshare | 3,000,000,000.00 | November3,2020 | 6years | 3,000,000,000.00 | 3,000,000,000.00 | 500,000.00 | -17,629,052.02 | 2,475,423,249.98 | |||
Total | -- | -- | -- | 3,000,000,000.00 | 3,000,000,000.00 | 500,000.00 | -17,629,052.02 | 2,475,423,249.98 |
(3)Descriptionsonconditionsandtimeforconversionofconvertiblebonds
1.DescriptiononconditionsandtimeoftheconvertiblebondsTheconversionperiodoftheconvertiblebondsissuedthistimecommencesonthefirsttradingdaysixmonthsaftertheendoftheissueoftheconvertiblebonds(November9,2020,i.e.thedatewhentheproceedsaretransferredtotheissuer'saccount)andendsonthematuritydateoftheconvertiblebonds.(i.e.fromMay10,2021(asthedateofMay09,2021isanon-tradingday,itdeferstoMay10,2021)toNovember2,2026(itdeferstothefirsttradingdaythereafterincaseoflegalholidaysorrestdays;noadditionalinterestwillbechargedtothepaymentduringthedeferredperiod)).
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
(4)DescriptionsonotherfinancialinstrumentsclassifiedasfinancialliabilitiesBasicinformationonpreferredshares,perpetualbondsandotherfinancialinstrumentsoutstandingattheendoftheperiodChangesinpreferredshares,perpetualbondsandotherfinancialinstrumentsoutstandingattheendoftheperiod
InRMB
Outstandingfinancialinstruments | Opening | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Closing | ||||
Quantity | Bookvalue | Quantity | Bookvalue | Quantity | Bookvalue | Quantity | Bookvalue |
DescriptionsonthebasisforclassifyingotherfinancialinstrumentsintofinancialliabilitiesOtherdescriptions
47.Leaseliabilities
InRMB
Item | ClosingBalance | OpeningBalance |
Otherdescriptions
48.Long-termpayables
InRMB
Item | ClosingBalance | OpeningBalance |
(1)Presentationoflong-termpayablesbynature
InRMB
Item | ClosingBalance | OpeningBalance |
Otherdescriptions:
(2)Specialaccountspayable
InRMB
Item | OpeningBalance | Increase | Decrease | ClosingBalance | Reason |
Otherdescriptions:
49.Long-termemployeebenefitspayable
(1)BreakdownofLong-termemployeebenefitspayable
InRMB
Item | ClosingBalance | OpeningBalance |
(2)Changesindefinedbenefitplans
Presentvalueofobligationsindefinedbenefitplans:
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Planassets:
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Netliabilities(netassets)ofdefinedbenefitplans
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Descriptionsonthecontentofthedefinedbenefitplans,therelatedrisks,andtheimpactontheCompany’sfuturecashflow,timeanduncertainty:
Descriptionsonthemajoractuarialassumptionsandsensitivityanalysisresultsconcerningthedefinedbenefitplans:
Otherdescriptions:
50.Provisions
InRMB
Item | ClosingBalance | OpeningBalance | Reason |
Productqualitywarranty | 1,360,598.63 | 1,317,263.45 | |
Total | 1,360,598.63 | 1,317,263.45 | -- |
Otherdescriptions,includingmajorassumptionsandestimationdescriptionsrelatedtosignificantprovisions
51.Deferredincome
InRMB
Item | OpeningBalance | Increase | Decrease | ClosingBalance | Reason |
Governmentgrants | 256,059,554.91 | 212,686,653.09 | 43,400,225.36 | 425,345,982.64 | |
Total | 256,059,554.91 | 212,686,653.09 | 43,400,225.36 | 425,345,982.64 | -- |
Projectsinvolvinggovernmentgrants:
InRMB
Liabilities | Openingbalance | Newsubsidyamountinthecurrentperiod | Amountincludedinnon-operatingincomeinthecurrentperiod | Amountincludedinotherincomesinthecurrentperiod | Amountofcostoffsetinthecurrentperiod | Otherchanges | Closingbalance | Relatedtoasset/income |
Specialfundsfortechnologicaltransformation | 244,004,302.41 | 212,686,653.09 | 42,856,630.76 | 413,834,324.74 | Relatedtoasset |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
andindustrialupgrading | ||||||
Land-relatedrefund | 12,055,252.50 | 543,594.60 | 11,511,657.90 | Relatedtoasset |
Otherdescriptions:
52.Othernon-currentliabilities
InRMB
Item | ClosingBalance | OpeningBalance |
Depositforleaseofplantbuildings | 19,923.33 | 11,130.10 |
Government-backedfund | 150,000,000.00 | 350,000,000.00 |
Total | 150,019,923.33 | 350,011,130.10 |
Otherdescriptions:
OnMay7,2016,JiangxiLuxshareIntelligentManufactureCo.,Ltd.(formallynamedasJi’anCityLuxshareRadioFrequencyTechnologyCo.,Ltd.,“Ji’anRF”),asubsidiaryoftheCompany,enteredintoaninvestmentagreementwiththeManagementCommitteeofJiangxiJi’anHigh-techIndustrialPark,wherebyitisagreedthatJi’anRFwillsetupaLuxshare-basedRFprojectinthehigh-techpark,mainlyplanningtheproductionofbasestations,high-frequencyantennas,cordlesschargingmodulesandotherelectronicproducts.Inordertopromotethepaceofprojectconstruction,Ji’anRFwasgrantedaloanfundsupportofuptoRMB500millionforcivilengineering.Thespecificfundpaymentshallbemadedependingontheprojectprogressandprojectfunddemand.AsofDecember31,2020,thebalanceoffundsactuallydisbursedisRMB150million.
53.Sharecapital
InRMB
OpeningBalance | Increaseanddecrease(+,-) | ClosingBalance | |||||
Newsharesissued | Stockdividend | Sharesconvertedfromcapitalreserve | Other | Subtotal | |||
Totalshares | 5,349,001,738.00 | 39,223,321.00 | 1,611,543,127.00 | 1,650,766,448.00 | 6,999,768,186.00 |
Otherdescriptions:
TheCompany’ssharecapitalincreasedbyRMB1,650,766,448.00inthecurrentperiod.Indetails,after22,810,292shareswereexercisedindependentlybythestockoptionincentiverecipientsin2018,theCompany’ssharesincreasedto5,371,812,030shares;accordingtothe17thsessionofits4thboardofdirectorsheldonApril20,2020,theCompanymadeprofitdistributionbydistributingcashdividendsofRMB644,617,443.60intotalbasedonthegeneralsharecapitalof5,371,812,030sharestoallshareholdersaccordingtoRMB1.2(tax-inclusive)per10shares,and
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
atthesametime,thecapitalreservewascapitalizedbyconvertingper10sharesinto3shares,afterwhich,thegeneralsharecapitaloftheCompanyhasbeenchangedto6,983,355,157shares;afterthecapitalizationofcapitalreserve,16,413,029shareswereexercisedindependentlybythestockoptionincentiverecipients,afterwhichtheCompany’ssharesincreasedto6,999,768,186shares.
54.Otherequityinstruments
(1)Basicinformationonpreferredshares,perpetualbondsandotherfinancialinstrumentsoutstandingattheendoftheperiod
(2)Changesinpreferredshares,perpetualbondsandotherfinancialinstrumentsoutstandingattheendoftheperiod
InRMB
Outstandingfinancialinstruments | Opening | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Closing | ||||
Quantity | Bookvalue | Quantity | Bookvalue | Quantity | Bookvalue | Quantity | Bookvalue | |
Convertiblebonds | 527,449,226.56 | 527,449,226.56 | ||||||
Total | 527,449,226.56 | 527,449,226.56 |
Descriptionsontheincreaseanddecreaseinotherequityinstrumentsinthecurrentperiod,thereasonsforthechanges,andthebasisforrelevantaccountingtreatment:
AccordingtotheProposalontheSpecificPlanforthePublicIssueofConvertibleBonddeliberatedandapprovedatthetenthsecessionofthefourthBoardofDirectorsoftheCompany,andtheReplyforApprovalofPublicIssueofConvertibleBondsbyLuxsharePrecisionIndustryCo.Ltd.receivedbytheCompanyfromChinaSecuritiesRegulatoryCommission(ZhengJianXuKe[2020]No.247)onFebruary19,2020,theCompanywasapprovedtopubliclyissueconvertiblebondswithatotalfacevalueofRMB3billionandatermof6years.TheCompany’sconvertiblebondsofRMB3billionwerelistedfortradingonShenzhenStockExchangeonNovember3,2020,withanabbreviationnameof"LuxshareConvertibleBonds"andthebondcodeof“128136”.TheequityamountofconvertiblebondswasincreasedbyRMB527,449,226.56inthecurrentperiod.
Otherdescriptions:
55.Capitalreserve
InRMB
Item | OpeningBalance | Increase | Decrease | ClosingBalance |
Capitalpremium(sharecapitalpremium) | 2,350,369,599.00 | 628,237,652.74 | 1,611,543,127.00 | 1,367,064,124.74 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Othercapitalreserve | 304,323,275.21 | 347,403,580.73 | 128,691,411.08 | 523,035,444.86 |
Total | 2,654,692,874.21 | 975,641,233.47 | 1,740,234,538.08 | 1,890,099,569.60 |
Otherdescriptionsincludingthoseontheincreaseanddecreaseforthecurrentperiodandthereasonsforthechange:
Capitalsurplus-equitypremiumincreasedbyRMB628,237,652.74inthecurrentperiod,includinganincreaseofRMB487,939,258.34fromstockoptionexercise,atransferofRMB128,691,411.08fromothercapitalreservethroughstockoptionexercise,andanincreaseofRMB11,606,983.32byotherways;capitalreserve-equitypremiumdecreasedbyRMB1,611,543,127.00inthecurrentperiod,whichwasduetothecapitalizationofcapitalreserve.Capitalreserve-theincreaseinothercapitalreserveinthecurrentperiodisduetothecostofshare-basedpaymentincreasedbyRMB347,403,580.73,andthedecreasethereinisduetothetransferofothercapitalreservetoequitypremium.
56.Treasurystock
InRMB
Item | OpeningBalance | Increase | Decrease | ClosingBalance |
Otherdescriptions,includingthoseontheincreaseanddecreaseforthecurrentperiodandthereasonsforthechange:
57.Othercomprehensiveincome
InRMB
Item | OpeningBalance | Amountrecognizedinthecurrentperiod | ClosingBalance | |||||
Amountofincomebeforetaxinthecurrentperiod | Less:amountpreviouslyincludedinothercomprehensiveincomeandtransferredtoprofitorlossforthecurrentperiod | Less:amountpreviouslyincludedinothercomprehensiveincomeandtransferredtoretainedearningsforthecurrentperiod | Less:incometaxexpenses | Attributabletotheparentcompanyaftertax | Attributabletominorityshareholdersaftertax | |||
I.Othercomprehensiveincomethatcannotbereclassifiedintoprofitorloss | 126,283,944.26 | -30,172,249.21 | 22,570,692.52 | -7,918,920.92 | -44,824,020.81 | 81,459,923.45 | ||
Changesinfairvalueofotherinvestmentsinequityinstruments | 126,283,944.26 | -30,172,249.21 | 22,570,692.52 | -7,918,920.92 | -44,824,020.81 | 81,459,923.45 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
II.Othercomprehensiveincometobereclassifiedintoprofitorloss | 39,318,208.48 | -169,542,554.65 | -165,495,934.99 | -4,046,619.66 | -126,177,726.51 | |||
Translationdifferenceofforeigncurrencyfinancialstatements | 39,318,208.48 | -169,542,554.65 | -165,495,934.99 | -4,046,619.66 | -126,177,726.51 | |||
Totalothercomprehensiveincome | 165,602,152.74 | -199,714,803.86 | 22,570,692.52 | -7,918,920.92 | -210,319,955.80 | -4,046,619.66 | -44,717,803.06 |
Otherdescriptions,includingthoseontheadjustmentforconversionoftheeffectivepartofprofitorlossofcashflowhedgingintotheinitialrecognitionamountofthehedgeditem:
58.Specialreserve
InRMB
Item | OpeningBalance | Increase | Decrease | ClosingBalance |
Otherdescriptions,includingthoseontheincreaseanddecreaseforthecurrentperiodandthereasonsforthechange:
59.Surplusreserve
InRMB
Item | OpeningBalance | Increase | Decrease | ClosingBalance |
Statutorysurplusreserve | 362,335,031.18 | 370,732,766.55 | 733,067,797.73 | |
Total | 362,335,031.18 | 370,732,766.55 | 733,067,797.73 |
Descriptionofsurplusreserve,includingthoseonincreaseanddecreaseforthecurrentperiodandthereasonsforthechange:
60.Undistributedprofits
InRMB
Item | CurrentPeriod | PriorPeriod |
Undistributedprofitsattheendoflastyearbeforeadjustment | 11,764,987,172.39 | 7,336,096,836.36 |
Totaladjustmentoftheundistributedprofitsatthebeginningoftheperiod(increase+,decrease-) | -5,571,942.46 | |
Undistributedprofitsatthebeginningoftheperiodafteradjustment | 11,764,987,172.39 | 7,330,524,893.90 |
Add:Netprofitsattributabletotheownersoftheparentcompanyinthecurrentperiod | 7,225,462,752.58 | 4,713,820,644.90 |
Less:Apportiontostatutorysurplusreserve | 370,732,766.55 | 73,446,284.67 |
Commonstockdividendspayable | 644,615,942.06 | 205,730,836.10 |
Other | -21,048,041.37 | 181,245.64 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Undistributedprofitsattheendoftheperiod | 17,996,149,257.73 | 11,764,987,172.39 |
Detailsofadjustmentofundistributedprofitsatthebeginningoftheperiod:
1)TheundistributedprofitsatthebeginningoftheperiodaffectedbytheretroactiveadjustmentasstipulatedintheAccountingStandardsforBusinessEnterprisesandnewregulationsnewlypromulgatedrelatingtheretoamounttoRMB.
2)TheundistributedprofitsatthebeginningoftheperiodaffectedbythechangesinaccountingpoliciesamounttoRMB.
3)TheundistributedprofitsatthebeginningoftheperiodaffectedbythecorrectionofmajoraccountingerrorsamounttoRMB.
4)TheundistributedprofitsatthebeginningoftheperiodaffectedbychangesinthescopeofconsolidationduetobusinesscombinationinvolvingenterprisesundercontrolamounttoRMB.
5)TheundistributedprofitsatthebeginningoftheperiodaffectedbyotheradjustmentsamounttoRMB.
61.Operatingincomeandoperatingcosts
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod | ||
Income | Cost | Income | Cost | |
Principalbusiness | 91,793,434,304.26 | 75,153,299,514.88 | 62,099,166,625.21 | 49,775,493,325.62 |
Otherbusiness | 707,824,907.28 | 616,707,534.70 | 417,147,963.21 | 292,336,628.34 |
Total | 92,501,259,211.54 | 75,770,007,049.58 | 62,516,314,588.42 | 50,067,829,953.96 |
Ifthelowerofauditednetsprofitsincludingandexcludingnon-recurringprofitorlossisnegative
□Yes√NoIncome-relatedinformation:
InRMB
Contractclassification | Division1 | Division2 | Total | |
Including: | ||||
Including: | ||||
Including: | ||||
Including: | ||||
Including: | ||||
Including: | ||||
Including: |
Informationrelatedtoperformanceobligations:
PerformanceobligationsspecifiedintheCompany’scontractsinclude:todeliverproductstocustomers,todeliverproductstocustomersaccordingtothedeliverydatesagreedincontractorders,andmakepaymentsbycustomersaccordingtothepaymentdatesagreedintheordersafterthecontrolhasbeentransferredtothecustomersuponinspectionandacceptance.TheCompanyisobligatedtodelivertocustomersproductswhichcanbeacceptedbythecustomers.The
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Companypurchasesrawmaterialsfromsuppliers,andcombinestherawmaterialsintocertainproductsfordeliverytothecustomersthroughsignificantproductionandprocessingactivities.yConsideringitassumesthemajorresponsibilitiesfordeliveringproductstothecustomers,theCompanyisdeemedastheprimaryresponsibleparty.TheCompanyisnotobligatedtoreturnthereceivedcustomers’goodspaymentsinanticipation,butithasaqualitywarrantyresponsibilityfortheproductsdeliveredtothecustomers.SincethisresponsibilityisanaffirmativewarrantywhichisrequiredtoensurethattheCompany'sproductsshallmeetthetechnicalparameters,quality,appearanceandotherrequirementsofthecustomers,ratherthanaservicewarranty,thisqualitywarrantydoesnotconstituteaseparateperformanceobligation.Informationrelatingtothetransactionpriceallocatedtotheremainingperformanceobligations:
Attheendofthereportingperiod,theincomescorrespondingtothecontractssignedwhoseperformancehasnotbeencommencedorcompletedamounttoRMB0.00,ofwhichRMBisexpectedtoberecognizedin,RMBisexpectedtoberecognizedin,andRMBisexpectedtoberecognizedin.Otherdescriptions
62.Taxesandsurcharges
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Urbanmaintenanceandconstructiontax | 81,906,708.52 | 121,700,496.38 |
Educationsurcharges | 75,957,575.51 | 117,804,967.10 |
Propertytax | 39,872,407.36 | 29,065,746.96 |
Landusetax | 6,222,537.93 | 6,418,612.42 |
Vehicleandvesselusetax | 1,594,540.33 | 56,029.89 |
Stampduty | 38,224,811.62 | 21,969,936.43 |
Other | 6,997,157.54 | 6,177,170.34 |
Total | 250,775,738.81 | 303,192,959.52 |
Otherdescriptions:
63.Sellingexpenses
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Employeebenefits | 299,604,855.35 | 275,535,165.34 |
Storage,freightandleaseexpenses | 25,954,501.83 | 84,047,142.56 |
Travelexpenses | 10,523,347.33 | 23,191,081.26 |
Businessentertainmentexpenses | 20,355,079.41 | 18,139,485.77 |
Materialexpenditure | 1,095,021.52 | 17,833,112.34 |
Transportationexpenses | 3,366,341.74 | 4,340,175.59 |
Consumablesandmiscellaneouspurchases | 5,583,719.60 | 2,113,323.15 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Depreciationandamortization | 5,752,130.91 | 4,215,792.99 |
Consultingfees | 2,383,695.21 | 1,513,311.78 |
Officeexpenses | 322,246.46 | 2,495,149.63 |
Other | 102,106,936.22 | 64,851,097.64 |
Total | 477,047,875.58 | 498,274,838.05 |
Otherdescriptions:
64.Generalexpenses
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Personnelbenefits | 1,460,800,684.09 | 986,091,683.77 |
Depreciationandamortization | 251,028,760.61 | 212,114,923.53 |
Leasefee | 62,104,694.48 | 43,856,074.86 |
Repaircost,miscellaneouspurchase | 125,433,880.08 | 55,785,837.56 |
Waterandelectricity | 36,346,709.92 | 20,450,376.73 |
Travelandtransportationexpenses | 26,568,577.76 | 20,501,589.95 |
Officeexpenses | 115,440,868.62 | 82,546,812.45 |
Materialsandconsumption | 164,759,105.43 | 20,562,087.63 |
Otherexpenses | 221,469,927.64 | 82,925,674.90 |
Total | 2,463,953,208.63 | 1,524,835,061.38 |
Otherdescriptions:
65.R&Dexpenses
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Personnelbenefits | 2,908,511,305.08 | 2,134,314,807.66 |
Mouldandmaterialcost | 1,412,859,366.51 | 954,586,000.29 |
Consumablesandmiscellaneous | 427,092,914.15 | 565,667,039.05 |
Depreciationandamortization | 434,765,917.47 | 283,777,931.21 |
Repairandinspection | 171,099,556.49 | 63,104,300.74 |
Servicefees | 73,318,711.87 | 65,564,310.79 |
Waterandelectricity | 72,911,702.75 | 57,562,150.17 |
Transportationandtravelexpenses | 29,788,220.49 | 43,929,904.57 |
Commercialinsurance | 4,911,888.67 | 14,371,174.40 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Leasefee | 47,239,062.80 | 28,253,209.91 |
Otherexpenses | 162,306,490.05 | 164,839,817.68 |
Total | 5,744,805,136.33 | 4,375,970,646.47 |
Otherdescriptions:
66.Financialexpenses
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Interestexpenses | 394,589,818.16 | 364,595,633.11 |
Less:Interestincome | 144,116,091.77 | 100,065,571.29 |
Foreignexchangegainsorlosses | 614,733,760.74 | 37,682,810.65 |
Other | 39,620,655.76 | 27,860,572.98 |
Total | 904,828,142.89 | 330,073,445.45 |
Otherdescriptions:
67.Otherincomes
InRMB
Sourcesofotherincomes | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Specialfundsfortechnologicaltransformationandindustrialupgrading | 42,856,630.76 | 35,692,547.35 |
Financialincentives,grantsandsupportfunds | 209,265,296.05 | 129,859,190.43 |
Patentgrants | 1,196,950.00 | 1,358,580.00 |
R&Dgrants | 8,816,360.00 | 4,904,499.67 |
Enterprisedevelopmentsupportfunds | 20,325,926.50 | 4,522,500.00 |
Jobsecuritygrants | 8,612,979.89 | 24,049,601.68 |
Exportincentives | 83,961,688.97 | 7,801,607.77 |
Land-relatedrefund | 543,594.60 | 543,594.60 |
Taxrebate | 62,702,274.58 | 16,848,851.19 |
Other | 12,467,094.54 | 6,730,455.66 |
68.Investmentincome
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Long-termequityinvestmentincomeaccountedforusingtheequitymethod | 24,799,841.42 | -36,548,318.18 |
Investmentincomefromdisposaloflong-termequityinvestment | 1,723,373.00 | -11,293,177.89 |
Investmentincomefromheld-for-tradingfinancialassetsduringholdingperiod | 508,055,516.99 | 129,978,951.36 |
Investmentincomefromdisposalofheld-for-tradingfinancialassets | 956,475.00 | |
Incomefromwealthmanagement | 113,778,334.95 | 89,722,710.32 |
Total | 648,357,066.36 | 172,816,640.61 |
Otherdescriptions:
69.Netexposurehedgingincome
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Otherdescriptions:
70.Incomefromchangesinfairvalue
InRMB
Sourcesofincomefromchangesinfairvalue | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Held-for-tradingfinancialassets | 329,044,852.43 | 801,205.01 |
Including:Incomefromchangesinfairvalueofderivativefinancialinstruments | 329,044,852.43 | 801,205.01 |
Total | 329,044,852.43 | 801,205.01 |
Otherdescriptions:
71.Impairmentlossesofcredit
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Baddebtlossofotherreceivables | -852,545.23 | 176,788.76 |
Baddebtlossofaccountsreceivable | -7,737,455.44 | -6,629,761.72 |
Total | -8,590,000.67 | -6,452,972.96 |
Otherdescriptions:
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
72.Impairmentlossesofassets
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
II.Lossofinventorydepreciationandimpairmentlossofcontractperformancecost | -60,363,851.75 | -23,067,157.13 |
V.Impairmentlossoffixedassets | -78,925,059.30 | -57,575,936.71 |
Total | -139,288,911.05 | -80,643,093.84 |
Otherdescriptions:
73.Incomefromdisposalofassets
InRMB
Sourcesofincomefromassetdisposal | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Lossondisposaloffixedassets | -2,309,694.02 | 9,716,496.38 |
74.Non-operatingincome
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod | Amountincludedinnon-recurringprofitorlossfortheperiod |
Incomefromcompensationforbreachofcontract | 4,109,194.81 | 121,971.25 | 4,109,194.81 |
Incomefromassetretirement | 7,173,590.23 | 1,161,945.28 | 7,173,590.23 |
Other | 10,649,503.20 | 16,831,856.05 | 10,649,503.20 |
Total | 21,932,288.24 | 18,115,772.58 | 21,932,288.24 |
Governmentgrantsincludedincurrentprofitorloss:
InRMB
Grantitem | Granter | Reasonsforgrant | Natureandtype | Whetherthesubsidyaffecttheprofitorlossofthecurrentyear | Whetheritisaspecialgrant | Amountinthecurrentperiod | Amountinthepriorperiod | Relatedtoasset/income |
Otherdescriptions:
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
75.Non-operatingexpenses
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod | Amountincludedinnon-recurringprofitorlossfortheperiod |
Externaldonation | 8,826,883.90 | 1,290,000.00 | 8,826,883.90 |
Assetretirementloss | 42,346,561.68 | 119,223,122.31 | 42,346,561.68 |
Compensation,liquidateddamagesandfines | 368,635.63 | 1,007,227.02 | 368,635.63 |
Other | 2,414,711.57 | 6,104,008.54 | 2,414,711.57 |
Total | 53,956,792.78 | 127,624,357.87 | 53,956,792.78 |
Otherdescriptions:
76.Incometaxexpenses
(1)Incometaxexpenses
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Currentincometaxexpense | 486,267,875.03 | 603,245,275.25 |
Deferredincometaxexpense | 158,497,053.67 | 104,508,599.40 |
Total | 644,764,928.70 | 707,753,874.65 |
(2)Reconciliationofincometaxexpensestotheaccountingprofit
InRMB
Item | Amountrecognizedinthecurrentperiod |
Totalprofit | 8,135,779,664.12 |
Incometaxexpensecalculatedbasedonstatutory/applicabletaxrate | 1,220,366,949.59 |
Effectofdifferenttaxratesofsubsidiariesoperatinginotherjurisdictions | -233,899,728.11 |
Effectofadjustmentonincometaxforpriorperiod | -23,616,326.73 |
Effectofnon-taxableincome | -4,206,425.06 |
Effectofnon-deductiblecost,expenseandloss | 36,490,531.87 |
Effectofutilizingdeductiblelossnotrecognizedfordeferredtaxassetsforpriorperiod | -36,678,455.90 |
Effectofdeductibletemporarydifferenceordeductiblelossnot | 130,186,654.90 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
recognizedfordeferredtaxassetsforthecurrentperiod | |
Changesinthebalanceofdeferredincometaxassets/liabilitiesatthebeginningoftheperiodduetotaxrateadjustment | -4,851,247.48 |
AdditionaldeductionofR&Dexpenses | -252,505,793.73 |
Other | -186,521,230.65 |
Incometaxexpenses | 644,764,928.70 |
Otherdescriptions
77.OthercomprehensiveincomeSeethenotesfordetails.
78.Itemsinthecashflowstatement
(1)Othercashreceivedrelatedtooperatingactivities
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Specialsubsidiesandgrants | 620,035,223.62 | 276,807,077.07 |
Leaseincome | 58,450,087.37 | 14,527,054.49 |
Interestincome | 144,116,091.77 | 100,065,571.29 |
Non-operatingincome | 14,757,798.01 | 16,953,827.30 |
Recoveryofcurrentaccountsanddisbursements | 341,220,838.10 | 319,848,015.48 |
Total | 1,178,580,038.87 | 728,201,545.63 |
Descriptionsonothercashreceivedrelatedtooperatingactivities:
(2)Othercashpaidrelatedtooperatingactivities
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Sellingexpenses | 171,690,889.32 | 218,523,879.72 |
Generalexpenses | 812,592,804.46 | 414,496,105.23 |
R&Dexpenses | 971,330,641.74 | 2,032,615,354.97 |
Non-operatingexpenses | 11,610,231.10 | 8,401,235.56 |
Inter-companytransactions | 70,545,074.10 | 47,526,059.37 |
Handlingcharges | 39,620,655.76 | 27,860,572.98 |
Other | 47,051,077.53 | |
Total | 2,124,441,374.01 | 2,749,423,207.83 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Descriptionsonothercashpaidrelatedtooperatingactivities:
(3)Othercashreceivedrelatedtoinvestingactivities
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Descriptionsonothercashreceivedrelatedtoinvestingactivities:
(4)Othercashpaidrelatedtoinvestingactivities
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Descriptionsonothercashpaidrelatingtoinvestingactivities:
(5)Othercashreceivedrelatedtofinancingactivities
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Short-termfinancingbonds | 1,500,000,000.00 | 500,000,000.00 |
Convertiblebonds | 2,985,600,000.00 | |
Total | 4,485,600,000.00 | 500,000,000.00 |
Descriptionsonothercashreceivedrelatedtofinancingactivities:
(6)Othercashpaidrelatedtofinancingactivities
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Financingcharges | 14,511,270.50 | 12,066,213.47 |
Total | 14,511,270.50 | 12,066,213.47 |
Descriptionsonothercashpaidrelatedtofinancingactivities:
79.Supplementaryinformationtocashflowstatement
(1)Supplementaryinformationtocashflowstatement
InRMB
Supplementaryinformation | Currentperiod | Priorperiod |
1.Reconciliationofnetprofittocashflowfromoperatingactivities: | -- | -- |
Netprofit | 7,491,014,735.42 | 4,927,424,927.20 |
Add:Provisionforimpairmentlossesof | 147,878,911.72 | 87,096,066.80 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
assets | ||
Depreciationoffixedassets,depletionofoilandgasassets,depreciationofbearerbiologicalassets | 2,212,448,100.25 | 1,485,838,229.86 |
Depreciationofrightofuseassets | 0.00 | 0.00 |
Amortizationofintangibleassets | 66,781,202.42 | 32,620,359.24 |
Amortizationoflong-termprepaidexpenses | 137,587,798.08 | 152,561,855.90 |
Lossfromdisposaloffixedassets,intangibleassetsandotherlong-termassets(“-”meansincome) | 2,309,694.02 | -9,716,496.38 |
Lossfromfixedassetsretirement(“-”meansincome) | 34,858,852.91 | 108,508,845.97 |
Lossfromchangesinfairvalue(“-”meansincome) | -329,044,852.43 | -801,205.01 |
Financialexpenses(“-”meansincome) | 394,589,818.16 | 364,595,633.11 |
Investmentloss(“-”meansincome) | -648,357,066.36 | -172,816,640.61 |
Decreaseindeferredincometaxassets(“-”meansincrease) | -216,359,243.84 | -47,784,054.83 |
Increaseindeferredincometaxliabilities(“-”meansdecrease) | 367,907,819.95 | 172,570,861.10 |
Decreaseininventories(“-”meansincrease) | -5,549,633,761.96 | -2,974,217,328.29 |
Decreaseinoperatingreceivables(“-”meansincrease) | -1,149,269,162.66 | -2,538,757,065.48 |
Increaseinoperatingaccountspayable(“-”meansdecrease) | 3,910,498,640.37 | 5,878,864,185.75 |
Other | ||
Netcashflowfromoperatingactivities | 6,873,211,486.05 | 7,465,988,174.33 |
2.Significantinvestingandfinancingactivitiesthatdonotinvolvecashreceiptsandpayments: | -- | -- |
Conversionofdebtintocapital | ||
Convertiblebondsduewithinoneyear |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Fixedassetsacquiredunderfinanceleases | ||
3.Netchangesincashandcashequivalents: | -- | -- |
Closingbalanceofcash | 10,464,804,451.34 | 6,147,339,924.26 |
Less:Openingbalanceofcash | 6,147,339,924.26 | 3,809,520,108.33 |
Add:Closingbalanceofcashequivalents | ||
Less:Openingbalanceofcashequivalents | ||
Netincreaseincashandcashequivalents | 4,317,464,527.08 | 2,337,819,815.93 |
(2)Netcashpaidtoacquiresubsidiariesfortheperiod
InRMB
Amount | |
Cashorcashequivalentspaidincurrentperiodforbusinesscombinationincurredincurrentperiod | 92,936,975.09 |
Including: | -- |
CyberAcoustics,LLC(USA) | 29,259,430.49 |
TaiqiaoInvestmentCo.,Ltd. | 63,677,544.60 |
Less:Cashandcashequivalentsheldbysubsidiariesatthedateofpurchase | 9,039,441.34 |
Including: | -- |
CyberAcoustics,LLC(USA) | 8,202,381.74 |
TaiqiaoInvestmentCo.,Ltd. | 837,059.60 |
Including: | -- |
Netcashpaidtoacquiresubsidiaries | 83,897,533.75 |
Otherdescriptions:
(3)Netcashreceivedfromdisposalofsubsidiariesinthecurrentperiod
InRMB
Amount | |
Cashorcashequivalentsreceivedfromdisposalofsubsidiariesinthecurrentperiod | 63,942,000.00 |
Including: | -- |
LuxsharePrecisionIndustry(Xi’an)Co.,Ltd. | 63,942,000.00 |
Less:Cashandcashequivalentsheldbysubsidiariesonthedateoflossofcontrol | 1,260,376.76 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Including: | -- |
LuxsharePrecisionIndustry(Xi’an)Co.,Ltd. | 1,260,376.76 |
Including: | -- |
LuxsharePrecisionIndustry(Xi’an)Co.,Ltd. | 62,681,623.24 |
Otherdescriptions:
(4)Compositionofcashandcashequivalents
InRMB
Item | ClosingBalance | OpeningBalance |
I.Cash | 10,464,804,451.34 | 6,147,339,924.26 |
Including:Cashonhand | 9,919,560.76 | 594,825.70 |
Bankdepositsavailableforpaymentatanytime | 10,454,884,890.58 | 6,146,745,098.56 |
III.Closingbalanceofcashandcashequivalents | 10,464,804,451.34 | 6,147,339,924.26 |
Otherdescriptions:
80.Notestoitemsinstatementofchangesinowners’equityDescriptionsonthenameof“other”itemsandtheamountofadjustmentforclosingbalanceinthepreviousyear
81.Assetswithrestrictedownershiporrightofuse
InRMB
Item | Closingbookvalue | Reasonsforrestriction |
Cashandbankbalances | 63,441,314.59 | Issueofnotesandletterofcredit |
Notesreceivable | 22,490,383.01 | FinancingfromPledgeofaccountsreceivable |
Fixedassets | 1,290,093,659.89 | Financingfrommortgageoffixedassets |
Intangibleassets | 472,877,041.20 | Financingfrommortgageofland |
Accountsreceivable | 786,934,477.55 | Financingfrommortgageofaccountsreceivable |
Total | 2,635,836,876.24 | -- |
Otherdescriptions:
82.Foreigncurrencymonetaryitems
(1)Foreigncurrencymonetaryitems
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
InRMB
Item | Closingbalanceinforeigncurrency | Exchangerate | ClosingbalanceinRMB |
Cashandbankbalances | -- | -- | 3,592,636,569.44 |
Including:USD | 523,048,082.79 | 6.5249 | 3,412,836,335.19 |
EUR | 351,596.39 | 8.025 | 2,821,561.04 |
HKD | 205,300.65 | 0.8416 | 172,781.03 |
JPY | 112,221,068.01 | 0.0632 | 7,096,411.50 |
TWD | 554,351,920.00 | 0.2321 | 128,665,080.63 |
VND | 113,027,017,856.68 | 0.0003 | 31,839,710.93 |
KRW | 1,495,890,687.00 | 0.006 | 8,970,856.45 |
GBP | 26,302.00 | 8.8903 | 233,832.67 |
Accountsreceivable | -- | -- | 10,818,877,593.73 |
Including:USD | 1,646,938,579.60 | 6.5249 | 10,746,109,538.03 |
EUR | 2,516,946.45 | 8.025 | 20,198,495.26 |
HKD | |||
JPY | 45,994,723.00 | 0.0632 | 2,908,522.30 |
TWD | 178,612,530.00 | 0.2321 | 41,455,968.21 |
VND | 27,988,067,376.64 | 0.0003 | 7,884,238.58 |
KRW | 10,368,010.00 | 0.006 | 62,176.96 |
GBP | 29,094.00 | 8.8903 | 258,654.39 |
Long-termborrowings | -- | -- | 76,010,982.77 |
Including:USD | 9,474,331.41 | 6.5249 | 61,819,065.00 |
EUR | |||
HKD | |||
JPY | 224,427,822.00 | 0.0632 | 14,191,917.77 |
Otherreceivables | 143,903,073.15 | ||
Including:USD | 20,485,851.57 | 6.5249 | 133,668,132.91 |
EUR | 86,092.19 | 8.025 | 690,889.82 |
JPY | 48,484,617.00 | 0.0632 | 3,065,973.24 |
TWD | 11,488,729.00 | 0.2321 | 2,666,534.00 |
VND | 113,380,803,265.88 | 0.0003 | 2,012,287.54 |
KRW | 167,218,480.00 | 0.006 | 1,002,809.22 |
GBP | 89,586.00 | 8.8903 | 796,446.42 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Accountspayable | 12,177,427,079.61 | ||
Including:USD | 1,778,736,848.60 | 6.5249 | 11,606,080,063.63 |
EUR | 4,005,846.60 | 8.025 | 32,146,919.00 |
HKD | 435,732.59 | 0.8416 | 366,729.44 |
JPY | 347,175,945.00 | 0.0632 | 21,955,392.12 |
TWD | 45,361,741.00 | 0.2321 | 10,528,460.07 |
VND | 1,793,945,485,481.00 | 0.0003 | 505,354,443.26 |
KRW | 164,450,302.00 | 0.006 | 986,208.46 |
GBP | 997.00 | 8.8903 | 8,863.63 |
Otherpayables | 9,156,091.02 | ||
Including:USD | 460,290.32 | 6.5249 | 3,003,348.32 |
EUR | 37,645.77 | 8.025 | 302,107.30 |
JPY | 18,338,046.00 | 0.0632 | 1,159,624.68 |
TWD | 17,543,598.00 | 0.2321 | 4,071,869.10 |
VND | 1,969,478,558.75 | 0.0003 | 554,802.11 |
KRW | 10,728,616.00 | 0.006 | 64,339.51 |
Short-termborrowings | 2,278,637,441.95 | ||
Including:USD | 342,815,372.39 | 6.5249 | 2,236,836,023.29 |
TWD | 180,100,899.00 | 0.2321 | 41,801,418.66 |
Otherdescriptions:
(2)Descriptionsonoverseasbusinessentities,including,withrespecttosignificantoverseasbusinessentities,disclosureoftheiroverseasmainbusinessplace,functionalcurrencyandselectionbasis,andthereasonsforchangesinfunctionalcurrency(ifany).
□Applicable√N/A
83.Hedging
Disclosureofthequalitativeandquantitativeinformationofthehedgeditems,relevanthedginginstrumentsandhedgedrisksaccordingtothehedgingcategories:
84.Governmentgrants
(1)Basicinformationofgovernmentgrants
InRMB
Category | Amount | Presentationitem | Amountincludedincurrentprofitorloss |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Specialfundsfortechnologicaltransformationandindustrialupgrading | 413,834,324.74 | Deferredincome | 42,856,630.76 |
Land-relatedrefund | 11,511,657.90 | Deferredincome | 543,594.60 |
Financialincentives,grantsandsupportfunds | 209,265,296.05 | Otherincome | 209,265,296.05 |
Exportincentives | 83,961,688.97 | Otherincome | 83,961,688.97 |
Taxrebate | 62,702,274.58 | Otherincome | 62,702,274.58 |
Enterprisedevelopmentsupportfunds | 20,325,926.50 | Otherincome | 20,325,926.50 |
R&Dgrants | 8,816,360.00 | Otherincome | 8,816,360.00 |
Jobsecuritygrants | 8,612,979.89 | Otherincome | 8,612,979.89 |
Patentgrants | 1,196,950.00 | Otherincome | 1,196,950.00 |
Others | 12,467,094.54 | Otherincome | 12,467,094.54 |
(2)Returnofgovernmentgrants
□Applicable√N/AOtherdescriptions:
85.OthersVIII.Changesinscopeofconsolidation
1.Businesscombinationnotinvolvingenterprisesundercommoncontrol
(1)Businesscombinationnotinvolvingenterprisesundercommoncontrolinthecurrentperiod
InRMB
Nameofacquiree | Timepointofequityacquisition | Costofequityacquisition | Equityacquisitionratio | Methodofequityacquisition | Acquisitiondate | Basisfordeterminationofacquisitiondate | Incomeoftheacquireefromtheacquisitiondatetotheendoftheperiod | Netprofitoftheacquireefromtheacquisitiondatetotheendoftheperiod |
CyberAcoustics,LLC(USA) | Sep.29,2020 | 29,259,430.49 | 70.00% | Businesscombinationnotinvolvingenterprisesundercommon | September29,2020 | Obtainmentofcontrol | 65,789,078.35 | 19,672,242.22 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
control | ||||||
TaiqiaoInvestmentCo.,Ltd. | Dec.28,2020 | 63,677,544.60 | 100.00% | Businesscombinationnotinvolvingenterprisesundercommoncontrol | December28,2020 | Obtainmentofcontrol |
Otherdescriptions:
(2)Combinationcostsandgoodwill
InRMB
Combinationcosts | CyberAcoustics,LLC(USA) | TaiqiaoInvestmentCo.,Ltd. |
--Cash | 29,259,430.49 | 63,746,133.08 |
Totalofcombinationcost | 29,259,430.49 | 63,746,133.08 |
Less:Fairvalueofidentifiablenetassetsacquired | 29,771,405.57 | 63,304,537.15 |
Amountofgoodwill/combinationcostlessthantheshareoffairvalueofidentifiablenetassetsacquired | -511,975.08 | 441,595.93 |
Descriptionsonmethodsfordeterminingthefairvalueofcombinationcosts,contingentconsiderationsandchangestherein:
Mainreasonsfortheformationoflargegoodwill:
Otherdescriptions:
(3)Identifiableassetsandliabilitiesoftheacquireeontheacquisitiondate
InRMB
CyberAcoustics,LLC(USA) | TaiqiaoInvestmentCo.,Ltd. | |||
Fairvalueatacquisitiondate | Bookvalueatacquisitiondate | Fairvalueatacquisitiondate | Bookvalueatacquisitiondate | |
Assets: | 60,732,634.74 | 60,732,634.74 | 86,376,261.26 | 52,512,226.02 |
Cashandbankbalances | 8,202,381.74 | 8,202,381.74 | 837,059.60 | 837,059.60 |
Accountsreceivable | 41,310,619.30 | 41,310,619.30 | ||
Inventories | 9,300,395.08 | 9,300,395.08 | ||
Fixedassets | 704,232.02 | 704,232.02 | ||
Prepayments | 1,215,006.60 | 1,215,006.60 | ||
Long-termequityinvestment | 85,539,201.66 | 51,675,166.42 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Liabilities: | 18,202,055.36 | 18,202,055.36 | 23,071,724.11 | 23,071,724.11 |
Borrowings | 18,568,000.00 | 18,568,000.00 | ||
Accountspayable | 11,801,245.19 | 11,801,245.19 | ||
Deferredtaxliabilities | 807,503.29 | 807,503.29 | ||
Notespayable | 3,689,302.38 | 3,689,302.38 | ||
Otherpayables | 5,039,783.89 | 5,039,783.89 | 6,918.44 | 6,918.44 |
Othercurrentliabilities | 1,361,026.28 | 1,361,026.28 | ||
Netassets | 42,530,579.38 | 42,530,579.38 | 63,304,537.15 | 29,440,501.91 |
Less:minorityinterest | 12,759,173.81 | 12,759,173.81 | ||
Netassetsacquired | 29,771,405.57 | 29,771,405.57 | 63,304,537.15 | 29,440,501.91 |
Methodsfordeterminingthefairvalueofidentifiableassetsandliabilities:
Contingentliabilitiesoftheacquireeinbusinesscombination:
Otherdescriptions:
(4)Gainsorlossesarisingfromthere-measurementofequityheldbeforetheacquisitiondateatfairvalueWherethereisanytransactionthatrealizesbusinesscombinationstepbystepthroughmultipletransactionsandobtainscontrolrightinthereportingperiod
?Yes√No
(5)RelevantDescriptionsonthecombinationconsiderationorthefairvalueoftheidentifiableassetsandliabilitiesoftheacquireethatcannotbereasonablydeterminedontheacquisitiondateorattheendofthecurrentperiod
(6)Otherdescriptions
2.Businesscombinationinvolvingenterprisesundercommoncontrol
(1)Businesscombinationinvolvingenterprisesundercommoncontrolinthecurrentperiod
InRMB
Nameofcombinedparty | Equityratioobtainedinbusinesscombination | Basisforbusinesscombinationinvolvingenterprisesundercommoncontrol | Combiningdate | Basisfordeterminingthecombinationdate | Incomeofthecombinedpartyfromthebeginningofthecurrentperiodtothecombination | Netprofitofthecombinedpartyfromthebeginningofthecurrentperiodtothecombination | Incomeofthecombinedpartyduringthecomparisonperiod | Netprofitofthecombinedpartyduringthecomparisonperiod |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
date | date |
Otherdescriptions:
(2)Combinationcosts
InRMB
Descriptionsoncontingentconsiderationsandchangestherein:
Otherdescriptions:
(3)Bookvalueofassetsandliabilitiesoftheacquireeatthecombinationdate
InRMB
CombinationcostsCombinationdate
Combinationdate | Endoflastperiod |
Contingentliabilitiesassumedbyacquireeinbusinesscombinations:
Otherdescriptions:
3.CounterpurchaseBasicinformationoftransactions,basisforformingareversepurchase,ifassetsandliabilitiesretainedbylistedcompanyconstituteabusinessanditsbasis,determinationofcombinationcost,adjustmentsonandcalculationofequitytreatedasequitytransactions:
4.Disposalofsubsidiaries
Singledisposalofinvestmentsinsubsidiaries,i.e.thelossofcontrol
√Yes□No
InRMB
Nameofsubsidiary | Equitydisposalprice | Equitydisposalratio | Equitydisposalmethod | Timepointoflosingcontrol | Basisfordeterminingthetimepointoflosingcontrol | Differencebetweenthedisposalpriceandtheshareofnetassetsofthesubsidiaryattheconsolidatedfinancialstatementlevelcorrespondingtothedisposal | Proportionofresidualequityonthedateoflosingcontrol | Bookvalueoftheresidualequityonthedateoflosingcontrol | Fairvalueofresidualequityonthedateoflosingcontrol | Gainorlossfromre-measurementofresidualequityatfairvalue | Determinationmethodandmainassumptionforfairvalueofresidualequityonthedateoflosingcontrol | Amountofothercomprehensiveincomerelatedtoequityinvestmentofthesubsidiarytransferredintoinvestmentprofitorloss |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
ofinvestment | ||||||
LuxsharePrecisionIndustry(Xi’an)Co.,Ltd. | 63,942,000.00 | 100% | Sold | May1,2020 | Re-electionoftheboardofdirectors | -58,000.00 |
Otherdescriptions:
Whetherthereisanysituationwheretheinvestmentinsubsidiariesisdisposedstepbystepthroughmultipletransactionsandthecontrolislostinthecurrentperiod
□Yes√No
5.ChangesinconsolidationscopeforotherreasonsDescriptionsonchangesinthescopeofconsolidationforotherreasons(suchastheestablishmentofnewsubsidiaries,liquidationofsubsidiaries,etc.)andrelatedsituations:
TheCompany’sscopeofconsolidationwhichischangedduetonewlyestablishedsubsidiariesin2020isasfollows:
Company | Dateofestablishment |
LuxshareLiantao(India)Co.,Ltd. | August31,2020 |
LuxsharePrecisionIndustry(Jiangsu)Co.,Ltd. | April29,2020 |
SuzhouLiantaoElectronicCo.,Ltd. | March24,2020 |
XingningLuxshareElectronicCo.,Ltd. | May13,2020 |
ChangshuLuxshareIndustrialInvestmentManagementCo.,Ltd. | September30,2020 |
KunshanLuxshareEnterpriseManagementDevelopmentCo.,Ltd. | November4,2020 |
KunshanLuxshareCorporateManagementServicesPartnership(LimitedPartnership) | November25,2020 |
LuxshareIntelligentEquipment(Kunshan)Co.,Ltd. | December29,2020 |
LuxshareSmartTechnology(Rugao)Co.,Ltd. | December1,2020 |
6.Others
IX.EquityinOtherEntities
1.Equityinsubsidiaries
(1)Compositionoftheenterprisegroup
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Nameofsubsidiary | Mainplaceofbusiness | Placeofregistration | Natureofbusiness | Shareholdingratio | Methodofacquisition | |
Direct | Indirect | |||||
LuxsharePrecisionTechnologyCo.,Ltd. | HongKong | HongKong | Investmentconsulting | 100% | Establishment | |
TaiwanLuxsharePrecisionLimited | Taiwan | Taiwan | Marketingbusiness | 100% | Establishment | |
LuxshareICT,Inc. | USA | USA | Marketingbusiness | 100% | Establishment | |
Luxshare-ICTEuropeLimited | UK | UK | Marketingbusiness | 100% | Establishment | |
LUXSHAREICTINTERNATIONALB.V. | Netherlands | Netherlands | Marketingbusiness | 100% | Establishment | |
LuxsharePrecisionLimited | HongKong | HongKong | Trade | 100% | Establishment | |
YundingTechnologyCo.,Ltd. | HongKong | HongKong | Investmentconsulting | 100% | Establishment | |
HuzhouJiudingElectronicCo.,Ltd. | Huzhou | Huzhou | Processingandmanufacturing | 100% | Businesscombinationnotinvolvingenterprisesundercommoncontrol | |
Luxshare-ICT(Japan) | Japan | Japan | Marketingbusiness | 80% | Establishment | |
KoreaLuxshareICTCo.,Ltd | Korea | Korea | Marketingbusiness | 100% | Establishment | |
Luxshare-ICT(India) | India | Chennai | Processingandmanufacturing | 100% | Establishment | |
ICT-LANTOLIMITED(HK) | HongKong | HongKong | Trade | 100% | Businesscombinationnotinvolvingenterprisesundercommoncontrol | |
SpeedTechCorp. | Taiwan | Taiwan | Processingand | 30.65% | Business |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
manufacturing | combinationnotinvolvingenterprisesundercommoncontrol | |||||
CastleRock,Inc. | Taiwan | XinbeiCity | Processingandmanufacturing | 12.26% | Businesscombinationnotinvolvingenterprisesundercommoncontrol | |
CyberAcoustics,LLC(USA) | Taiwan | Taiwan | Processingandmanufacturing | 21.46% | Businesscombinationnotinvolvingenterprisesundercommoncontrol | |
TaiqiaoInvestmentCo.,Ltd. | Taiwan | Taiwan | Investmentconsulting | 30.65% | Businesscombinationnotinvolvingenterprisesundercommoncontrol | |
Luxshare-ICT(Vietnam)Limited | Vietnam | Vietnam | Processingandmanufacturing | 100% | Establishment | |
LuxsharePrecision(Yunzhong)Co.,Ltd. | Vietnam | Vietnam | Processingandmanufacturing | 100% | Establishment | |
LuxsharePrecision(Yi’an)Co.,Ltd. | Vietnam | Vietnam | Processingandmanufacturing | 100% | Establishment | |
KunshanLuxsharePrecisionIndustryCo.,Ltd. | Kunshan | Kunshan | Processingandmanufacturing | 100% | Establishment | |
KunshanLuxsharePrecisionMouldCo.,Ltd. | Kunshan | Kunshan | Processingandmanufacturing | 100% | Establishment | |
LuxsharePrecisionIndustry | Baoding | Baoding | Processingandmanufacturing | 100% | Establishment |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
(Baoding)Co.,Ltd. | ||||||
DongguanLuxshareSmart-LinkElectronicTechnologyCo.,Ltd. | Dongguan | Dongguan | Processingandmanufacturing | 100% | Establishment | |
XuanchengLuxsharePrecisionIndustryCo.,Ltd. | Anhui | Xuancheng | Processingandmanufacturing | 100% | Establishment | |
LuxsahreElectronic(Shanghai)Co.,Ltd. | Shanghai | Shanghai | Processingandmanufacturing | 88% | Establishment | |
KunshanLantoElectronicLimited | Kunshan | Kunshan | Processingandmanufacturing | 100% | Businesscombinationnotinvolvingenterprisesundercommoncontrol | |
BozhouLantoElectronicLimited | Bozhou | Bozhou | Processingandmanufacturing | 100% | Businesscombinationnotinvolvingenterprisesundercommoncontrol | |
BozhouXuntaoElectronicLimited | Bozhou | Bozhou | Processingandmanufacturing | 100% | Establishment | |
SuiningLuxsharePrecisionIndustryCo.,Ltd. | Suining | Suining | Processingandmanufacturing | 100% | Establishment | |
MeiteTechnology(Suzhou)Co.,Ltd. | Suzhou | Suzhou | Processingandmanufacturing | 51% | Businesscombinationnotinvolvingenterprisesundercommoncontrol | |
BeijingLuxshareAcoustic | Beijing | Beijing | Processingandmanufacturing | 100% | Establishment |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
TechnologyCo.,Ltd. | ||||||
LuxsharePrecisionIndustry(Shanxi)Co.,Ltd. | Changzhi | Changzhi | Processingandmanufacturing | 100% | Establishment | |
Wan’anXiexunElectronicCo.,Ltd. | Wan’an | Wan’an | Processingandmanufacturing | 100% | Establishment | |
Ji’anJizhoudistrictLuxshareElectronicCo.,Ltd. | Ji’an | Ji’an | Processingandmanufacturing | 100% | Establishment | |
XiexunElectronic(Ji’an)Co.,Ltd. | Ji’an | Ji’an | Processingandmanufacturing | 100% | Businesscombinationinvolvingenterprisesundercommoncontrol | |
ASAPTechnology(Jiangxi)Co.,Ltd. | Ji’an | Ji’an | Processingandmanufacturing | 100% | Establishment | |
YongxinCountyBoshuoElectronicsCo.,Ltd. | YongxinCounty | YongxinCounty | Processingandmanufacturing | 100% | Businesscombinationnotinvolvingenterprisesundercommoncontrol | |
XinyuXiexunElectronicCo.,Ltd. | Xinyu | Xinyu | Processingandmanufacturing | 100% | Establishment | |
JiangxiASAPElectronicCo.,Ltd. | Ji’an | Ji’an | Processingandmanufacturing | 100% | Establishment | |
FujianJKWiringSystemsCo.,Ltd.. | Fuzhou | Fuzhou | Processingandmanufacturing | 55% | Businesscombinationnotinvolvingenterprisesundercommoncontrol | |
JianouJKWiringSystemsCo.,Ltd. | Jian’ou | Jian’ou | Processingandmanufacturing | 55% | Establishment |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
XingningLuxshareTechnologyCo.,Ltd. | Xingning | Xingning | Processingandmanufacturing | 90.00% | Establishment | |
LuxshareElectronicTechnology(Kunshan)Co.,Ltd. | Kunshan | Kunshan | Processingandmanufacturing | 100% | Businesscombinationnotinvolvingenterprisesundercommoncontrol | |
ShenzhenLuxshareAcousticsTechnologyLtd. | Shenzhen | Shenzhen | Processingandmanufacturing | 100% | Establishment | |
FengshunLuxsharePrecisionIndustryCo.,Ltd. | Fengshun | Fengshun | Processingandmanufacturing | 100% | Establishment | |
LuxsharePrecisionIndustry(Chuzhou),Ltd. | Chuzhou | Chuzhou | Processingandmanufacturing | 100% | Establishment | |
SuKKunststofftechnikGmbH | Germany | Germany | Processingandmanufacturing | 100% | Businesscombinationnotinvolvingenterprisesundercommoncontrol | |
SUKPLASTICS | Romania | Romania | Processingandmanufacturing | 100% | Establishment | |
LuxshareAutomation(Jiangsu)Ltd. | Kunshan | Kunshan | Processingandmanufacturing | 70.00% | Businesscombinationnotinvolvingenterprisesundercommoncontrol | |
DongguanLuxsharePrecisionIndustryCo.,Ltd. | Dongguan | Dongguan | Processingandmanufacturing | 100% | Establishment | |
GuangdongLuxshareMerryElectronicCo., | Dongguan | Dongguan | Processingandmanufacturing | 51% | Establishment |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Ltd. | ||||||
MeilvElectronic(Huizhou)Co.,Ltd. | Huizhou | Huizhou | Processingandmanufacturing | 51% | Businesscombinationnotinvolvingenterprisesundercommoncontrol | |
MeilvElectronics(Shanghai)Co.,Ltd. | Shanghai | Shanghai | Trade | 51% | Businesscombinationnotinvolvingenterprisesundercommoncontrol | |
JiangxiLuxshareIntelligentManufactureCo.,Ltd. | Ji’an | Ji’an | Processingandmanufacturing | 100.00% | Establishment | |
LuxshareTechnologiesLimited | HongKong | HongKong | Processingandmanufacturing | 90.00% | Establishment | |
ShenzhenLuxshareStandardCo.,Ltd. | Shenzhen | Shenzhen | Processingandmanufacturing | 70% | Establishment | |
LuxshareStandardLimited(HK) | HongKong | HongKong | Processingandmanufacturing | 70% | Establishment | |
LuxsharePrecisionIndustry(Enshi)Co.,Ltd. | Enshi | Enshi | Processingandmanufacturing | 100% | Establishment | |
LuxsharePrecisionIndustry(Suzhou)Co.,Ltd. | Suzhou | Suzhou | Processingandmanufacturing | 100% | Establishment | |
LuxshareIntelligentManufacture(Zhejiang)Co.,Ltd. | Jiashan | Jiashan | Processingandmanufacturing | 100% | Establishment | |
LuxshareIntelligent | Changshu | Changshu | Processingandmanufacturing | 100% | Establishment |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
ManufactureTechnology(Changshu)Co.,Ltd. | ||||||
DongguanLuxshareTechnologyCo.,Ltd. | Dongguan | Dongguan | Processingandmanufacturing | 90% | Establishment | |
DonguanXuntaoElectronicCo.,Ltd. | Dongguan | Dongguan | Processingandmanufacturing | 90.00% | Businesscombinationnotinvolvingenterprisesundercommoncontrol | |
Luxshare-ICTInternationalCable,Inc.(USA) | USA | USA | Processingandmanufacturing | 90.00% | Establishment | |
Kunshan-LuxshareRFTechnologyCo.,Ltd. | Kunshan | Kunshan | Processingandmanufacturing | 90.00% | Establishment | |
WuxiHuihongElectronicCo.,Ltd. | Wuxi | Wuxi | Processingandmanufacturing | 62.07% | Businesscombinationnotinvolvingenterprisesundercommoncontrol | |
LuxshareLiantao(India)Co.,Ltd. | India | India | Processingandmanufacturing | 100.00% | Establishment | |
LuxsharePrecisionIndustry(Jiangsu)Co.,Ltd. | Liyang | Liyang | Processingandmanufacturing | 100.00% | Establishment | |
SuzhouLiantaoElectronicCo.,Ltd. | Suzhou | Suzhou | Processingandmanufacturing | 100% | Establishment | |
XingningLuxshareTechnologyCo.,Ltd. | Xingning | Xingning | Processingandmanufacturing | 100% | Establishment | |
ChangshuLuxshare | Changshu | Changshu | Investmentconsulting | 100.00% | Establishment |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
IndustrialInvestmentManagementCo.,Ltd. | ||||||
KunshanLuxshareEnterpriseManagementDevelopmentCo.,Ltd. | Kunshan | Kunshan | Investmentconsulting | 100.00% | Establishment | |
KunshanLuxshareCorporateManagementServicesPartnership(LimitedPartnership) | Kunshan | Kunshan | Investmentconsulting | 9.09% | Establishment | |
LuxshareIntelligentEquipment(Kunshan)Co.,Ltd. | Kunshan | Kunshan | Processingandmanufacturing | 9.46% | Establishment | |
LuxshareSmartTechnology(Rugao)Co.,Ltd. | Rugao | Rugao | Processingandmanufacturing | 100.00% | Establishment |
Descriptionsonthedifferencebetweentheshareholdingratioandthevotingrightratiointhesubsidiary:
(1)KunshanLuxshareCorporateManagementServicesPartnership(LimitedPartnership)wasjointlyestablishedbyKunshanLuxshareEnterpriseManagementDevelopmentCo.,Ltd.,asubsidiaryoftheCompany,andKunshanJinhongUrban-RuralIntegrationConstructionCo.,Ltd.Accordingtothepartnershipagreement,KunshanLuxshareEnterpriseManagementDevelopmentCo.,Ltd.actedasthegeneralpartner,subscribingacapitalofRMB200millionwhileKunshanJinhongUrban-RuralIntegrationConstructionCo.,Ltd.actedasthelimitedpartner,subscribingacapitalofRMB2billion.Thegeneralpartneristhemanagingpartnerofthepartnership.Inrespectofpartnershipaffairpractice,themanagingpartnerhastheexclusiverighttomanageandcontrolthepartnership'soperation,investmentbusinessandotheraffairs.Forprofitdistribution,thesubsidiaryoftheCompanyisentitledtoenjoy80%oftheincomedistributionwhilethelimitedpartnerhastherighttoenjoytheremainingproportion.SincethesubsidiaryoftheCompanycancontrolthepartnership,KunshanLuxshareCorporateManagementServicesPartnership(LimitedPartnership)isincludedinthescopeofconsolidation.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
(2)LuxshareIntelligentEquipment(Kunshan)Co.,Ltd.wasestablishedonDecember29,2020,whosesharesweredirectlyheldbyKunshanLuxshareCorporateManagementServicesPartnership(LimitedPartnership)ataproportionof99.59%andKunshanLuxshareEnterpriseManagementDevelopmentCo.,Ltd.Ataproportionof0.41%.Therefore,astheCompanyindirectlycontrolsLuxshareIntelligentEquipment(Kunshan)Co.,Ltd.throughitssubsidiary,LuxshareIntelligentEquipmentisincludedinthescopeofconsolidation.
Basisforholdinghalforlessvotingrightsbutstillcontrollingtheinvestee,andholdingmorethanhalfofthevotingrightsbutnotcontrollingtheinvestee:
Basisforthecontrolofsignificantstructuredentitiesincludedintheconsolidationscope:
Basisfordeterminingwhetheracompanyisanagentoraprincipal:
Otherdescriptions:
(2)Significantnon-wholly-ownedsubsidiaries
InRMB
Nameofsubsidiary | Shareholdingratioofminorityshareholders | Profitorlossattributabletominorityshareholdersinthecurrentperiod | Dividendsdeclaredanddistributedtominorityshareholdersinthecurrentperiod | Balanceofminorityinterestattheendoftheperiod |
FujianJKWiringSystemsCo.,Ltd.. | 45.00% | 1,310,180.65 | 64,904,247.88 | |
LuxshareAutomation(Jiangsu)Ltd. | 30.00% | 24,661,723.62 | 97,100,366.71 | |
MeilvElectronic(Huizhou)Co.,Ltd. | 49.00% | 56,336,040.40 | 208,696,572.30 | |
MeiteTechnology(Suzhou)Co.,Ltd. | 49.00% | 51,217,417.28 | 718,973,436.87 | |
SpeedTechCorp. | 69.35% | 114,917,157.75 | 503,825,923.38 |
Descriptionsonthedifferencebetweentheshareholdingratioofminorityshareholdersandtheirvotingrightratiointhesubsidiary:
Otherdescriptions:
(3)Mainfinancialinformationofsignificantnon-wholly-ownedsubsidiaries
InRMB
Nameofsubsidiary | ClosingBalance | OpeningBalance | ||||||||||
Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
FujianJKWiringSystemsCo.,Ltd.. | 163,428,973.90 | 37,881,649.81 | 201,310,623.71 | 56,639,528.54 | 439,433.25 | 57,078,961.79 | 195,911,115.77 | 45,070,000.83 | 240,981,116.60 | 69,373,435.60 | 421,469.85 | 69,794,905.45 |
LuxshareAutomation(Jiangsu)Ltd. | 632,811,583.17 | 25,327,104.17 | 658,138,687.34 | 334,035,875.87 | 434,922.47 | 334,470,798.34 | 365,699,394.70 | 20,156,759.83 | 385,856,154.53 | 147,209,913.17 | 512,243.75 | 147,722,156.92 |
MeilvElectronic(Huizhou)Co.,Ltd. | 922,468,906.46 | 91,289,271.11 | 1,013,758,177.57 | 580,109,436.01 | 7,737,369.47 | 587,846,805.48 | 555,228,066.65 | 101,357,640.18 | 656,585,706.83 | 339,621,169.30 | 5,870,256.47 | 345,491,425.77 |
MeiteTechnology(Suzhou)Co.,Ltd. | 1,181,697,694.14 | 1,409,645,063.39 | 2,591,342,757.53 | 1,092,806,110.91 | 31,243,918.32 | 1,124,050,029.23 | 1,039,072,803.07 | 1,467,179,953.72 | 2,506,252,756.79 | 1,082,678,769.48 | 61,727,275.55 | 1,144,406,045.03 |
SpeedTechCorp. | 2,162,130,004.28 | 1,160,247,787.78 | 3,322,377,792.06 | 1,950,655,927.00 | 145,273,694.52 | 2,095,929,621.52 | 1,420,474,318.85 | 808,337,644.36 | 2,228,811,963.21 | 1,255,943,210.02 | 111,971,150.25 | 1,367,914,360.27 |
InRMB
Nameofsubsidiary | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod | ||||||
Operatingincome | Netprofits | Totalcomprehensiveincomes | Cashflowfromoperatingactivities | Operatingincome | Netprofits | Totalcomprehensiveincomes | Cashflowfromoperatingactivities | |
FujianJKWiringSystemsCo.,Ltd.. | 250,073,562.76 | 2,911,512.54 | -26,954,549.23 | 16,729,734.42 | 435,843,684.40 | 14,072,412.76 | 15,066,877.44 | 11,309,541.52 |
LuxshareAutomation(Jiangsu)Ltd. | 766,700,321.47 | 82,205,745.40 | 85,533,891.39 | -31,470,651.03 | 427,622,084.75 | 21,901,190.33 | 30,898,872.88 | 39,812,300.80 |
MeilvElectronic(Huizhou)Co.,Ltd. | 1,352,111,265.87 | 114,971,511.03 | 114,817,091.01 | 196,105,592.33 | 904,734,269.95 | 73,548,747.03 | 74,051,973.77 | 166,955,738.11 |
MeiteTechnology(Suzhou)Co.,Ltd. | 2,510,006,534.54 | 104,525,341.39 | 105,446,016.56 | 413,323,812.87 | 2,794,200,149.66 | 239,415,414.34 | 240,169,329.08 | 118,033,727.51 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
SpeedTechCorp. | 3,463,332,781.62 | 327,841,387.24 | 365,550,567.60 | 437,331,860.62 | 2,585,053,555.74 | 150,745,551.92 | 115,397,822.61 | 165,028,772.02 |
Otherdescriptions:
(4)Majorrestrictionsontheuseofenterprisegroupassetsandrepaymentofenterprisegroupdebts
(5)Financialsupportorothersupportprovidedtostructuredentitiesincludedinthescopeofconsolidatedfinancialstatements
Otherdescriptions:
2.Transactionsinwhichtheshareofowners’equityinthesubsidiarychangesandstillcontrolsthesubsidiary
(1)Descriptionsonchangesinthesharesofowners’equityinsubsidiaries
(2)Impactoftransactionsonminorityinterestandowners’equityattributabletotheparentcompany
InRMBOtherdescriptions
3.Equityinjointventuresorassociates
(1)Significantjointventuresorassociates
Nameofjointventureorassociate | Mainplaceofbusiness | Placeofregistration | Natureofbusiness | Shareholdingratio | Accountingtreatmentofinvestmentinjointventureorassociate | |
Direct | Indirect |
Descriptionsonthedifferencebetweentheshareholdingratioandthevotingrightratiointhejointventureorassociate:
Basisforholdinglessthan20%ofthevotingrightsbuthavingsignificantinfluence,orholding20%ormoreofthevotingrightsbutwithoutsignificantinfluence:
(2)Mainfinancialinformationofsignificantjointventures
InRMB
ClosingBalance/Amountrecognizedinthecurrentperiod | OpeningBalance/Amountrecognizedinthepriorperiod |
Otherdescriptions
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
(3)Mainfinancialinformationofsignificantassociates
InRMB
ClosingBalance/Amountrecognizedinthecurrentperiod | OpeningBalance/Amountrecognizedinthepriorperiod |
Otherdescriptions
(4)Summaryfinancialinformationofinsignificantjointventuresandassociates
InRMB
ClosingBalance/Amountrecognizedinthecurrentperiod | OpeningBalance/Amountrecognizedinthepriorperiod | |
Jointventures: | -- | -- |
Totalbookvalueofinvestment | 86,236,939.01 | 77,614,874.91 |
Totalamountofthefollowingitemscalculatedaccordingtoshareholdingratio | -- | -- |
--Netprofits | 17,941,174.66 | 22,544,135.76 |
--Othercomprehensiveincome | -374,657.21 | -2,266,528.48 |
--Totalcomprehensiveincomes | 17,566,517.45 | 20,277,607.28 |
Associates: | -- | -- |
Totalbookvalueofinvestment | 1,122,303,394.28 | 225,435,705.19 |
Totalamountofthefollowingitemscalculatedaccordingtoshareholdingratio | -- | -- |
--Netprofits | 6,858,666.76 | -59,092,453.94 |
--Othercomprehensiveincome | -697,543.98 | |
--Totalcomprehensiveincomes | 6,161,122.78 | -59,092,453.94 |
Otherdescriptions
(5)DescriptionsonsignificantrestrictionsontheabilityofjointventuresorassociatestotransferfundstotheCompany
(6)Excesslossofjointventuresorassociates
InRMB
Nameofjointventureorassociate | Cumulativeunrecognizedlossesaccumulatedinpreviousperiod | Unrecognizedlossesinthecurrentperiod(ornetprofitsharedinthecurrentperiod) | Cumulativeunrecognizedlossesattheendoftheperiod |
Otherdescriptions
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
(7)Unconfirmedcommitmentsrelatedtoinvestmentinjointventures
(8)Contingentliabilitiesrelatedtoinvestmentinjointventuresorassociates
4.Significantjointoperations
Nameofjointoperation | Mainplaceofbusiness | Placeofregistration | Natureofbusiness | Shareholdingratio/share | |
Direct | Indirect |
Descriptionsonthedifferencebetweentheshareholdingratioorshareandthevotingrightsratiointhejointoperation:
Basisforclassifyingaseparateentityintojointoperation:
Otherdescriptions
5.EquityinstructuredentitiesnotincludedintheconsolidatedfinancialstatementsDescriptionsonstructuredentitiesnotincludedintheconsolidatedfinancialstatements:
6.OthersX.RisksAssociatedwithFinancialInstruments
1.CreditrisksCreditrisksrefertotherisksthatonepartytoafinancialinstrumentsuffersfinanciallossesduetothefailureoftheotherpartytoperformitsobligations.ThecustomercreditrisksmainlyfacedbytheCompanycomefromcreditsale.Beforesigninganewcontract,theCompanywillassessthecreditrisksgeneratedbynewcustomersfromperspectivessuchasexternalcreditratingand,insomecases,bankcreditcertification(whenthesameisavailable).TheCompanyhasacreditlimit,whichisthemaximumamountwithoutadditionalapproval,foreachcustomer.TheCompanyensuresthatitsoverallcreditriskiswithinthecontrollablerangethroughquarterlymonitoringofcreditratingofexistingcustomersandmonthlyreviewofaginganalysisofaccountsreceivable.Customersaregroupedaccordingtotheircreditcharacteristicswhenthecreditrisksfromthemaremonitored.Customersratedas“highrisk”willbeplacedontherestrictedcustomerlist,andonlywithadditionalapprovalcantheCompanysellthemoncreditinthefutureperiod,otherwisetheymustberequiredtopaythecorrespondingamountinadvance.
2.MarketrisksMarketrisksoffinancialinstrumentsrefertotherisksthatthefairvalueorfuturecashflowoffinancialinstrumentswillfluctuateduetomarketpricechanges,includingexchangeraterisk,interestrateriskandotherpricerisks.
(1)Interestraterisk
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Interestrateriskreferstotheriskthatthefairvalueorfuturecashflowoffinancialinstrumentswillfluctuateduetothechangeinmarketinterestrate.TheinterestrateriskfacedbytheCompanymainlycomesfromthelong-termandshort-termborrowingsfrombanks.TheCompany,underitscurrentpolicy,seekstoborrowinUSDwithalowerloaninterestrate.Inordertoobtainloans,theCompanyhasprovidedguaranteeforitswholly-ownedoverseassubsidiariesICT-LantoLimitedandICT-LantoLimitedforoverseasfinancing.
(2)ExchangerateriskExchangerateriskreferstotheriskthatthefairvalueoffinancialinstrumentsorfuturecashflowwillfluctuateduetothechangeinforeignexchangerate.TheCompanytriestomatchforeigncurrencyincomewithforeigncurrencyexpendituretoreduceexchangeraterisk.Inaddition,theCompanyhassignedforwardforeignexchangecontractstoavoidexchangeraterisk.
(3)OtherpricerisksTheCompanyholdsequityinvestmentsofotherlistedcompanies,andthemanagementbelievesthatthemarketpricerisksfacedbytheseinvestmentactivitiesisacceptable.TheequityinvestmentsoflistedcompaniesheldbytheCompanyarepresentedasfollows:
3.LiquidityrisksLiquidityrisksreferto,withrespecttoanenterprise,therisksofcapitalshortagetotheenterprisewhenitfulfillsitsobligationofsettlementbycashorotherfinancialassets.ItistheCompany’spolicytoensurethatthereissufficientcashtopayitsdebtsastheyfalldue.TheliquidityrisksarecontrolledbythefinancialdepartmentoftheCompanyinaunifiedmanner.Bymonitoringthecashbalance,marketablesecuritiesthatcanberealizedatanytimeandrollingforecastofcashflowinthenext12months,thefinancialdepartmentensuresthattheCompanyhassufficientfundstorepaydebtsunderallreasonableforecasts.
XI.DisclosureofFairValue
1.Closingfairvalueofassetsandliabilitiesmeasuredatfairvalue
InRMB
Item | Closingbalance | Balanceattheendoflastyear |
Otherinvestmentsinequityinstruments | 114,221,319.04 | 170,733,150.00 |
Total | 114,221,319.04 | 170,733,150.00 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Item | Closingbalanceoffairvalue | |||
LevelI | LevelII | LevelIII | Total | |
I.Continuousfairvaluemeasurement | -- | -- | -- | -- |
(I)Held-for-tradingfinancialassets | 305,388,419.95 | 2,854,676,050.46 | 3,160,064,470.41 | |
1.Financialassetsatfairvaluethroughprofitorloss | 305,388,419.95 | 2,854,676,050.46 | 3,160,064,470.41 | |
(3)Derivativefinancialassets | 305,388,419.95 | 305,388,419.95 | ||
(III)Otherequityinstrumentinvestments | 114,221,319.04 | 23,853,252.52 | 138,074,571.56 | |
Wealthmanagementproducts | 2,854,676,050.46 | 2,854,676,050.46 | ||
Totalassetscontinuouslymeasuredatfairvalue | 114,221,319.04 | 305,388,419.95 | 2,878,529,302.98 | 3,298,139,041.97 |
II.Non-continuousfairvaluemeasurement | -- | -- | -- | -- |
2.BasisfordeterminingthemarketpriceoftheitemscontinuouslyandnotcontinuouslymeasuredatfairvalueatlevelILevelIinputsarequotedmarketprice(unadjusted)inanactivemarketforanidenticalassetorliabilityavailableatthedateofmeasurement.
3.ValuationtechnologyandqualitativeandquantitativeinformationofimportantparametersusedintheitemscontinuouslyandnotcontinuouslymeasuredatfairvalueatlevelII.LevelIIinputsareinputs,otherthaninputswithinLevelI,thatareobservablefortheassetorliability.
4.ValuationtechnologyandqualitativeandquantitativeinformationofimportantparametersusedintheitemscontinuouslyandnotcontinuouslymeasuredatfairvalueatthethirdlevelLevelIIIinputsareunobservableinputsfortheassetorliability.
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
5.Adjustmentinformationbetweentheopeningbookvalueandtheclosingbookvalue,andthesensitivityanalysisofunobservableparametersforitemscontinuouslymeasuredatfairvalueatthethirdlevel
6.Foritemscontinuouslymeasuredatfairvalue,ifthereisconversionbetweendifferentlevelsinthecurrentperiod,thereasonsfortheconversionandthepolicyfordeterminingtheconversiontimepointThefairvaluelevelforthemeasurementresultsisdeterminedbythelowestleveloftheinputsthataresignificanttothefairvaluemeasurementasawhole.
7.Changesinvaluationtechnologyinthecurrentperiodandreasonsforchanges
8.Fairvalueoffinancialassetsandfinancialliabilitiesnotmeasuredatfairvalue
9.Others
XII.RelatedPartiesandRelated-partyTransactions
1.TheparentcompanyoftheCompany
Nameofparentcompany | Placeofregistration | Natureofbusiness | Registeredcapital | ShareholdingratiooftheparentcompanyintheCompany | VotingrightsratiooftheparentcompanyintheCompany |
LuxsharePrecisionLimited | HongKong | Industry | HKD10,000 | 40.90% | 40.90% |
DescriptionsontheparentcompanyoftheCompanyTheultimatecontrolleroftheCompanyisWANGLaichunandWANGLaisheng.Otherdescriptions:
2.SubsidiariesoftheCompanyFordetailsoftheCompany’ssubsidiaries,pleaserefertoNoteVII.EquityinOtherEntities.
3.JointventuresandassociatesoftheCompanyFordetailsofthesignificantjointventuresorassociatesoftheCompany,pleaserefertoNoteVII.EquityinOtherEntities.Otherjointventuresorassociatesthathaverelated-partytransactionswiththeCompanyinthecurrentperiodorformedabalanceduetorelated-partytransactionswiththeCompanyinthepriorperiodareasfollows:
Nameofjointventureorassociate | RelationshipwiththeCompany |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
RiyimaoIndustrialCo.,Ltd. | Joint-stockcompanyofamajority-ownedsub-subsidiaryoftheCompany |
XuandeEnergyCo.,Ltd. | Joint-stockcompanyofamajority-ownedsub-subsidiaryoftheCompany |
AyalaDesignCo.,Ltd.(Japan) | Subsidiaryofjoint-stockcompanyofamajority-ownedsub-subsidiaryoftheCompany |
Caldigit(UK)Limited | Subsidiaryofjoint-stockcompanyofamajority-ownedsub-subsidiaryoftheCompany |
CaldigitAmericanInc. | Subsidiaryofjoint-stockcompanyofamajority-ownedsub-subsidiaryoftheCompany |
AssemTechnologyCo.,Ltd. | Joint-stockcompanyofamajority-ownedsub-subsidiaryoftheCompany |
ZhuhaiKinwongFlexibleCircuitCo.,Ltd. | AssociatesoftheCompany |
ShangraoCityLijingInnovationTechnologyCo.,Ltd. | OtherrelatedpartyoftheCompany |
GuangzhouLuxvisionsInnovationTechnologyLimited | OtherrelatedpartyoftheCompany |
BisaisiAutomotiveTechnology(Suzhou)Co.,Ltd. | AnenterprisecontrolledbytheCompany’sparentcompany |
Otherdescriptions
4.Otherrelatedparties
Nameofotherrelatedparties | RelationshipbetweenotherrelatedpartiesandtheCompany |
Otherdescriptions
5.Related-partytransactions
(1)Related-partytransactionsofpurchasingandsellinggoods,renderingandacceptingservicesPurchasinggoods/acceptingservices
InRMB
Relatedparties | Related-partytransactions | Amountrecognizedinthecurrentperiod | Approvedtransactionlimit | Whetherthetransactionlimitisexceeded | Amountrecognizedinthepriorperiod |
RiyimaoIndustrialCo.,Ltd. | Purchasinggoods | 8,030,338.04 | No | 6,497,433.42 | |
AssemTechnologyCo.,Ltd. | Purchasingfixedassets | 1,742,625.00 | No | ||
AssemTechnologyCo.,Ltd. | Otherservices | 7,133.15 | No | ||
ZhuhaiKinwong | Purchasinggoods | 40,830,964.42 | No | 125,594,269.72 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
FlexibleCircuitCo.,Ltd. | |||||
BisaisiAutomotiveTechnology(Suzhou)Co.,Ltd. | Purchasinggoods | 676,913.53 | No | 183,291.36 | |
GuangzhouLuxvisionsInnovationTechnologyLimited | Purchasinggoods | 11,134.40 | No |
Sellinggoods/renderingservices
InRMB
Relatedparties | Related-partytransactions | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
RiyimaoIndustrialCo.,Ltd. | Processinggoodspurchased | 6,691.91 | 13,312.01 |
RiyimaoIndustrialCo.,Ltd. | Otherservices | 1,842.54 | 39,133.92 |
AyalaDesignCo.,Ltd.(Japan) | Sellingproducts | 4,495,492.93 | |
Caldigit(UK)Limited | Sellingproducts | 31,496,213.08 | |
CaldigitAmericanInc. | Sellingproducts | 135,401,289.61 | |
AssemTechnologyCo.,Ltd. | Otherservices | 7,133.15 | |
ZhuhaiKinwongFlexibleCircuitCo.,Ltd. | Sellingproducts | 20,714.40 | 84,292.81 |
ShangraoCityLijingInnovationTechnologyCo.,Ltd. | Sellingproducts | 1,383,434.92 | 49,473.00 |
GuangzhouLuxvisionsInnovationTechnologyLimited | Equipmentandapparatus | 43,045,170.20 | 62,286,745.18 |
BisaisiAutomotiveTechnology(Suzhou)Co.,Ltd. | Sellingproducts | 106,918,653.51 | 496,575.04 |
Descriptionsonrelated-partytransactionsofpurchasingandsellinggoods,andprovidingandacceptingservices
(2)Related-partyentrustedmanagement/contractingandentrustedmanagement/outsourcing
Entrustedmanagement/contractingoftheCompany:
InRMB
Nameofprincipal/owner | Nameoftrustee/contractor | Typesofentrusted/contractedassets | Commencementdateofentrustment/contract | Terminationdateofentrustment/contract | Pricingbasisoftrusteeshipincome/contractincome | Trusteeshipincome/contractincomerecognizedinthecurrentperiod |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Descriptionsonrelated-partytrusteeship/contractStatementofentrustedmanagement/outsourcingoftheCompany:
InRMB
Nameofprincipal/owner | Nameoftrustee/contractor | Typesofentrusted/contractedassets | Commencementdateofentrustment/contract | Terminationdateofentrustment/contract | Pricingbasisoftrusteeshipincome/contractincome | Trusteeshipincome/contractincomerecognizedinthecurrentperiod |
Descriptionsonrelated-partymanagement/outsourcing
(3)Related-partylease
TheCompanyactsasthelessor:
InRMB
Nameoflessee | Typesofleasedassets | Leaseincomerecognizedinthecurrentperiod | Leaseincomerecognizedinthepreviousperiod |
RiyimaoIndustrialCo.,Ltd. | Fixedassets | 21,117.59 | |
XuandeEnergyCo.,Ltd. | Fixedassets | 108,412.88 | 544,555.20 |
TheCompanyactsasthelessee:
InRMB
Nameoflessor | Typesofleasedassets | Leaseincomerecognizedinthecurrentperiod | Leaseincomerecognizedinthepreviousperiod |
Descriptionsonrelated-partyleases
(4)Related-partyguaranteeTheCompanyactsastheguarantor
InRMB
Guaranteedparty | Amountofguarantee | Commencementdateofguarantee | Maturitydateofguarantee | Whethertheguaranteehasbeenfulfilled |
ICT-LANTOLIMITED | 189,222,100.00 | June23,2020 | June22,2021 | No |
ICT-LANTOLIMITED | 195,747,000.00 | August1,2019 | July31,2020 | No |
LuxsharePrecisionCo.,Ltd | 71,773,900.00 | June23,2020 | June22,2021 | No |
LuxsharePrecisionCo.,Ltd | 5,219,920,000.00 | July20,2020 | July19,2025 | No |
LuxsharePrecisionCo.,Ltd | 326,245,000.00 | December15,2019 | June1,2021 | No |
LuxsharePrecisionCo., | 326,245,000.00 | March9,2020 | March24,2023 | No |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
TheCompanyactsastheguaranteedparty
InRMB
Ltd
Guarantor
Guarantor | Amountofguarantee | Commencementdateofguarantee | Maturitydateofguarantee | Whethertheguaranteehasbeenfulfilled |
Descriptionsonrelated-partyguarantee
(5)Related-partyloans
InRMB
Relatedparty | Loanamount | Commencementdate | Maturitydate | Remarks |
Borrow | ||||
Lend |
(6)Assettransferanddebtrestructuringofrelatedparties
InRMB
Relatedparty | Related-partytransactions | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
(7)Remunerationofkeymanagers
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Compensationofkeymanagers | 11,414,640.00 | 9,765,724.53 |
Share-basedpaymentofkeymanagers | 9,586,952.73 | 11,682,249.90 |
(8)Otherrelated-partytransactions
6.Accountsreceivableandpayableofrelatedparties
(1)Receivables
InRMB
Item | Relatedparty | ClosingBalance | OpeningBalance | ||
Bookbalance | Bad-debtprovision | Bookbalance | Bad-debtprovision | ||
Accountsreceivable | XuandeEnergyCo.,Ltd. | 107,582.38 | 53.79 | ||
Accountsreceivable | ZhuhaiKinwongFlexibleCircuitCo., | 38,420.00 | 19.21 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Ltd. | |||||
Accountsreceivable | ShangraoCityLijingInnovationTechnologyCo.,Ltd. | 324,853.80 | 162.43 | 13,503.50 | 6.75 |
Accountsreceivable | GuangzhouLuxvisionsInnovationTechnologyLimited | 14,398,489.55 | 7,199.24 | 59,986,632.21 | 29,993.32 |
Accountsreceivable | BisaisiAutomotiveTechnology(Suzhou)Co.,Ltd. | 59,654,508.75 | 29,827.25 | 542,719.17 | 271.36 |
Accountsreceivable | AyalaDesignCo.,Ltd.(Japan) | 890,628.97 | 445.31 | ||
Accountsreceivable | Caldigit(UK)Limited | 17,773,116.02 | 8,886.56 | ||
Accountsreceivable | CaldigitAmericanInc. | 38,290,629.44 | 19,145.31 | ||
Otherreceivables | GuangzhouLuxvisionsInnovationTechnologyLimited | 69,933.44 | 349.67 | 5,087,557.78 | 25,437.79 |
Otherreceivables | BisaisiAutomotiveTechnology(Suzhou)Co.,Ltd. | 4,200.00 | 21.00 | ||
Otherreceivables | XuandeEnergyCo.,Ltd. | 168,480.23 | 842.40 |
(2)Payables
InRMB
Item | Relatedparty | 期末Bookbalance | 期初Bookbalance |
Accountspayable | RiyimaoIndustrialCo.,Ltd. | 3,195,766.80 | 2,788,491.37 |
Accountspayable | ZhuhaiKinwongFlexibleCircuitCo.,Ltd. | 36,129,173.65 | |
Accountspayable | GuangzhouLuxvisionsInnovationTechnologyLimited | 12,581.87 | 38,157.90 |
Accountspayable | BisaisiAutomotiveTechnology(Suzhou)Co.,Ltd. | 447,157.67 | 28,406.07 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Receiptsinadvance | XuandeEnergyCo.,Ltd. | 232,600.00 |
7.Commitmentofrelatedparties
8.Others
XIII.Share-basedpayment
1.Generalsituationofshare-basedpayment
√Applicable□N/A
InRMB
TotalamountoftheCompany’sequityinstrumentsgrantedinthecurrentperiod | 0.00 |
TotalamountoftheCompany’sequityinstrumentsexercisedinthecurrentperiod | 42,488,500.00 |
TotalamountoftheCompany’sequityinstrumentsinvalidinthecurrentperiod | 4,353,900.00 |
Otherdescriptions
RangeofexercisepricesandremainingcontractualtermsoftheCompany’soutstandingstockoptionsattheendoftheperiod:(1)OnSeptember25,2018,theProposalonGrantingStockOptionstoGranteesunderthe2018StockOptionIncentivePlanofLuxsharePrecisionIndustryCo.,Ltd.wasapprovedupondeliberationatthe5thsessionofthe4thboardofdirectorsoftheCompany.Accordingly,theCompanygranted97.50millionofstockoptionsto1,899eligiblegranteesattheexercisepriceofRMB17.58pershare.After12monthsfromthedateonwhichthegrantregistrationiscompleted,granteesmeetingtheexerciseconditionscanexercisetheoptionsinfiveperiods,withaproportionof20%foreachperiod,inthefollowing60months;AccordingtotheProposalonSatisfyingtheExerciseConditionsfortheSecondExercisePeriodunderthe2018StockOptionIncentivePlanapprovedupondeliberationatthe27
th
sessionofthe4thboardofdirectorsoftheCompanyonDecember2,2020,giventhattheexerciseconditionforthesecondexerciseperiodoptionsunderthe2018StockOptionIncentivePlanhadbeenmatured,itwasagreedthat1,718granteesofthe2018StockOptionIncentivePlancanindependentlyexercisetheiroptionsattheexercisepriceofRMB10.28pershare,withtheestimatedstockoptionstobeexercisednumbering31,212,577(theactualnumberofstockoptionstobeexercisedshallbesubjecttoregisterednumberbyShenzhenBranchofChinaSecuritiesDepositoryandClearingCo.,Ltd.)(2)OnApril22,2019,theProposalonGrantingStockOptionstoInitialGranteesunderthe2019StockOptionIncentivePlanofLuxsharePrecisionIndustryCo.,Ltd.wasapprovedafterdeliberationatthe9thsessionofthe4thboardofdirectors.Accordingly,theCompanygranted50.076millionstockoptionsto348eligiblegranteesatthegrantedpriceofthefirststockoptionsofRMB23.36pershare,with12.519millionstockoptionsusedasreserve.OnNovember27,2019,the13thsessionofthe4thboardofdirectorsdeliberatedandpassedtheProposalonGrantingStockOptionstoGranteesReservedunderthe2019StockOptionIncentivePlanonNovember27,2019,asperwhichthe
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Companygranted16,274,700to263eligiblegranteesatanexercisepriceofRMB17.93pershare,andafter12monthsfromthedateonwhichtheregistrationofstockoptionsgrantforshare-basepaymentiscompleted,granteeswhomeettheexerciseconditionscanexercisethestockoptionsinfiveperiods,withaproportionof20%foreachperiod,inthefollowing60months.OnJune22,2020,atthe19
thsessionofthe4
thboardofdirectors,theProposalonSatisfyingtheExerciseConditionsfortheInitialExercisePeriodunderthe2019StockOptionIncentivePlanwasapprovedupondeliberation,pursuanttowhichtheexerciseconditionforthefirstexerciseperiodoptionsunderthe2019StockOptionIncentivePlanwasmatured.Therefore,itwasagreedthat339initialgranteesofthe2019StockOptionIncentivePlancanindependentlyexercisetheiroptionsattheexercisepriceofRMB13.17pershare,withtheestimatedstockoptionstobeexercisednumbering16,456,708(theactualnumberofstockoptionstobeexercisedissubjecttoregisterednumberbyShenzhenBranchofChinaSecuritiesDepositoryandClearingCo.,Ltd.).
2.Share-basedpaymentsettledinequity
√Applicable□N/A
InRMB
Methodofdeterminingthefairvalueofequityinstrumentsonthegrantdate | Black-Scholesmodel |
Basisfordeterminingthenumberofexercisableequityinstruments | ThedeterminationismadebytheCompanyaccordingtotheequityinstrumentscorrespondingtotheon-the-jobgranteesandtheCompany’sperformanceforecastinthefuture. |
Reasonsforsignificantdifferencesbetweencurrentandpriorestimates | None |
Cumulativeamountofshare-basedpaymentsettledinequityincludedinthecapitalreserve | 697,082,140.17 |
Totalamountofshare-basedpaymentsettledinequityrecognizedinthecurrentperiod | 347,403,580.73 |
Otherdescriptions
(1)OnSeptember25,2018,theCompanyheldthe5
thsessionofthe4
th
boardofdirectorsandthe5
th
sessionofthe4
th
boardofsupervisors,deliberatingandapprovingtheProposalonGrantingStockOptionstoGranteesunderthe2018StockOptionIncentivePlanofLuxsharePrecisionIndustryCo.,Ltd.,wherebyitwasdeterminedthat97,500,000stockoptionswouldbegrantedto1,899eligiblegranteesonSeptember25,2018asthegrantdateoftheincentiveplan.OnNovember27,2019,theCompanyheldthe13
th
sessionofthe4
th
boardofdirectorsandthe13
th
sessionofthe4
th
boardofsupervisors,deliberatingandapprovingtheProposalonAdjustingtheExercisePriceandQuantityunderthe2018StockOptionIncentivePlanandCancelingSomeStockOptionsaswellastheProposalonSatisfyingtheExerciseConditionsfortheInitialExercisePeriodofthe2018StockOptionIncentivePlan.AccordingtorelevantprovisionsoftheMeasuresforManaging
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
EquityIncentivesofListedCompanies,theCompany’s2018StockOptionIncentivePlan(Draft)andtheAdministrativeMeasuresfortheImplementationandAssessmentofthe2018StockOptionIncentivePlan,andasauthorizedbytheCompany’ssecondextraordinarygeneralmeetingofshareholdersin2018,theadjustmentoftheexercisepriceandquantityunderthestockoptionincentiveplanandthecancellationofsomeoptionswasratifiedinresponsetotheimplementationbytheCompanyoftheannualequitydistributionplanin2018andtheresignationofgrantees,etc..Aftertheadjustment,thenumberofgranteeswaschangedfrom1,870to1,762,thequantityofstockoptionsgrantedwaschangedfrom97,300,000to122,327,530,andtheexercisepriceofstockoptionswaschangedfromRMB17.58persharetoRMB13.48pershare.OnJune22,2020,theCompanyheldthe19
th
sessionofthe4
th
boardofdirectorsandthe19
th
sessionofthe4
th
boardofsupervisors,deliberatingandapprovingtheProposalonAdjustingtheExercisePriceandQuantityundertheStockOptionIncentivePlansin2018and2019,andCancelingSomeStockOptions.Aftertheadjustment,thequantityofstockoptionsthatwasnotexercisedwaschangedfrom99,001,310to128,698,841,andtheexercisepriceofstockoptionsthatwasnotexercisedwaschangedfromRMB13.48persharetoRMB10.28pershare.
(2)OnApril22,2019,theCompanyheldthe9
thsessionofthe4
th
boardofdirectorsandthe9
th
sessionofthe4
th
boardofsupervisors,atwhichitdeliberatedandapprovedtheProposalonGrantingStockOptionstoSubordinatedGranteesunderthe2019StockOptionIncentivePlanofLuxsharePrecisionIndustryCo.,Ltd.,determiningthat50,076,000stockoptionswouldbegrantedto348eligibleinitialgranteesonApril22,2019asthegrantdateoftheincentiveplan.OnNovember27,2019,theCompanyheldthe13
th
sessionofthe4
th
boardofdirectorsandthe13
th
sessionofthe4
th
boardofsupervisors,deliberatingandapprovingtheProposalonAdjustingtheExercisePriceandQuantityunderthe2019StockOptionIncentivePlanandtheProposalonGrantingStockOptionstoGranteesReservedunderthe2019StockOptionIncentivePlan.DuetotheimplementationbytheCompanyoftheannualequitydistributionplanin2018,theexercisepriceandquantityunderthe2019stockoptionincentiveplanwereadjusted.Afteradjustment,theexercisepriceofthestockoptioninitiallygrantedwaschangedfromRMB23.36persharetoRMB17.93pershare,thequantityofstockoptionsinitiallygrantedwaschangedfrom50,076,000to65,098,800,andthequantityofreservedstockoptionsgrantedwaschangedfrom12,519,000to16,274700.Atthesametime,theboardofdirectorsconsideredthattheCompanyandthegranteeshadmettheconditionsforthegrantofreservedstockoptionsundertheCompany’s2019incentiveplan,andconsentedtogrant16,274,700stockoptionsto263granteesonNovember27,2019asthegrantdateofreservedstockoptionsattheexercisepriceofRMB17.93pershare.OnJune22,2020,theCompanyheldthe19
th
sessionofthe4
th
boardofdirectorsandthe19
th
sessionofthe4
th
boardofsupervisors,deliberatingandapprovingtheProposalonAdjustingtheExercisePriceandQuantityundertheStockOptionIncentivePlansin2018and2019,andCancelingSomeStockOptions,andtheProposalonSatisfyingtheExerciseConditionsfortheInitialExercisePeriodofthe2018StockOptionIncentivePlan.Afterthisadjustment,thenumberofinitialgranteesunderthe
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
2019stockoptionincentiveplanwasadjustedfrom348to340,thequantityofstockoptionsinitiallygrantedwasadjustedfrom65,098,800to84,626,558,andtheexercisepriceofthestockoptionsinitiallygrantedwasadjustedfromRMB17.93persharetoRMB13.70pershare;thequantityofreservedstockoptionsgrantedwasadjustedfrom16,241,700to21,113,740,andtheexercisepricethereofwasadjustedfromRMB17.93persharetoRMB13.70pershare.
3.Share-basedpaymentsettledincash
□Applicable√N/A
4.Modificationandterminationofshare-basedpayment
5.Others
XIV.CommitmentsandContingencies
1.SignificantcommitmentsSignificantcommitmentsonthebalancesheetdateTheCompanyhasnosignificantcommitmentstobedisclosed.
2.Contingencies
(1)SignificantcontingenciesonthebalancesheetdateTheCompanyhasnosignificantcontingenciestobedisclosed.
(2)NotesshallbemadeiftheCompanyhasnosignificantcontingenciesthatneedtobedisclosed
TheCompanyhasnosignificantcontingenciestobedisclosed.
3.Others
XV.EventsaftertheBalanceSheetDate
1.Significantnon-adjustingitems
InRMB
Item | Content | Effectedquantumonfinancialstatusandoperatingresults | Reasonswhytheeffectedquantumcannotbeestimated |
2.Profitdistribution
InRMB
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
3.Salesreturn
4.Descriptiononeventsafterthebalancesheetdate
1.TheUSAlaunchedthe337investigationagainstLuxsharePrecision.OnJanuary22,2021,theCompanywasinformedoftwonoticesregardingthisinvestigationfromtheUnitedStatesInternationalTradeCommission(USITC),whichtoldthecasenumberandthedesignatedpresidingadministrativejudge.Atpresent,theCompanyhasbeeninvolvedinthe337investigationprocess,withalltreatmentssubjecttoproceduresandregulationsofthe337investigation.
2.InordertofurtherimprovethestrategiclayoutoftheCompanyinthefieldofcomputerandprecisionstructuralcomponentsmodulesofconsumerelectronics,andenhancethesynergybenefitsofverticalintegrationandsimultaneousdevelopmentincomputerandconsumerelectronicsproducts,theCompanyanditswholly-ownedsubsidiary,namely,LuxsharePrecisionTechnologyCo.,Ltd.,enteredintotheCapitalIncrementAgreementofRikaiComputerAccessoryCo.,Ltd.andtheShareholderAgreementwithCasetekHoldingsLimited,RihLiInternationalLimited,ChangshuLikaiCorporateManagementPartnership(LimitedPartnership)andRikaiComputerAccessoryCo.,Ltd.(hereinafterreferredtoas“RikaiComputer”),pursuanttowhichtheCompanyanditswholly-ownedsubsidiary,namely,LuxsharePrecisionTechnologyCo.,Ltd.,togetherwithChangshuLikaiCorporateManagementPartnership(LimitedPartnership),jointlyinvestedinRikaiComputerbytheirownfunds,inwhichtheCompanyinvestedRMB5,760,062,200whileitssubsidiaryinvestedRMB239,937,800.Uponcompletionofthisinvestment,theCompany,asholding50.013%equityinterestinRikaiComputer,controlledRikkaComputer;ChangshuLikka,throughtheinvestmentofRMB125,967,400,held3.5%equityinterestinRikaiComputer;andRikkaComputer'soriginalshareholder,RihLiInternationalLimited,held46.487%equityinterestinRikaiComputer.
3.OnJanuary15,2021,theCompanycompleteditsissueofthefirstultra-short-termfinancingbondsfortheyearof2021,whichwasnamedastheFirstUltra-short-termFinancingBondsofLuxsharePrecisionIndustryCo.Ltd.In2021,withthecodeof21011112.IBandatermof270days.ThevaluedateofsuchbondsisJanuary15,2021andthepaymentdateisOctober12,2021.ThebondshasbeenissuedatanamountofRMB800millionintotalwithanissueinterestrateof3.3%.
XVI.OtherSignificantEvents
1.Correctionofpreviousaccountingerrors
(1)Retrospectiverestatement
InRMB
Accountingerrorcorrected | Processingprocedure | Nameoftheaffectediteminthestatementsofthecomparisonperiod | Cumulativequantumaffected |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
(2)ProspectiveApplication
Accountingerrorcorrected | Approvalprocedure | Reasonsforadoptingmethodofprospectiveapplication |
2.Debtrestructuring
3.Assetreplacement
(1)Exchangeofnon-monetaryassets
(2)Replacementofotherassets
4.Annuityplan
5.Terminationofoperation
InRMB
Item | Incomes | Costs | Totalprofits | Incometaxexpenses | Netprofits | Profitsfromterminationofoperationattributabletotheownersoftheparentcompany |
Otherdescriptions
6.Segmentinformation
(1)Determinationbasisandaccountingpolicyofreportingsegment
(2)Financialinformationofreportingsegment
InRMB
Item | Inter-segmentoffset | Total |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
(3)DescriptionsonreasonswhytheCompanyhasnoreportingsegmentorcannotdisclosethetotalassetsandliabilitiesofeachreportingsegment,ifany
(4)Otherdescriptions
7.Otherimportanttransactionsandeventsthathaveanimpactoninvestors’decision-making
8.Others
XVII.NotestoKeyItemsinFinancialStatementsoftheCompany
1.Accountsreceivable
(1)Categorizeddisclosureofaccountsreceivable
InRMB
Category | ClosingBalance | OpeningBalance | ||||||||
Bookbalance | Bad-debtprovision | Bookvalue | Bookbalance | Bad-debtprovision | Bookvalue | |||||
Amount | Proportion | Amount | Provisionproportion | Amount | Proportion | Amount | Provisionproportion | |||
Accountsreceivableforwhichbad-debtprovisionismadeindividually | 241,403.36 | 0.01% | 241,403.36 | 100.00% | 241,403.36 | 0.02% | 241,403.36 | 100.00% | ||
Including: | ||||||||||
Entity1 | 241,403.36 | 0.01% | 241,403.36 | 100.00% | 241,403.36 | 0.02% | 241,403.36 | 100.00% | ||
Accountsreceivableforwhichbad-debtprovisionismadebygroup | 6,927,999,417.25 | 99.99% | 4,846,817.94 | 0.07% | 6,923,152,599.31 | 1,564,941,516.13 | 99.98% | 3,148,698.64 | 0.20% | 1,561,792,817.49 |
Including: | ||||||||||
Groupbyaging | 1,023,149,566.63 | 14.76% | 4,846,817.94 | 0.47% | 1,018,302,748.69 | 1,087,700,095.39 | 69.49% | 3,148,698.64 | 0.29% | 1,084,551,396.75 |
Relatedpartygroupinthescopeofconsolidation | 5,904,849,850.62 | 85.23% | 5,904,849,850.62 | 477,241,420.74 | 30.49% | 477,241,420.74 | ||||
Total | 6,928,240,820.61 | 100.00% | 5,088,221.30 | 6,923,152,599.31 | 1,565,182,919.49 | 100.00% | 3,390,102.00 | 1,561,792,817.49 |
Provisionforbaddebtsmadeindividually:RMB241,403.36
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
InRMB
Description | ClosingBalance | |||
Bookbalance | Bad-debtprovision | Provisionproportion | Reasonforprovision | |
Entity1 | 241,403.36 | 241,403.36 | 100.00% | Itcannotberecovered |
Total | 241,403.36 | 241,403.36 | -- | -- |
Provisionforbaddebtsmadeindividually:
InRMB
Description | ClosingBalance | |||
Bookbalance | Bad-debtprovision | Provisionproportion | Reasonforprovision |
Provisionforbaddebtsmadebygroup:RMB4,846,817.94
InRMB
Description | ClosingBalance | ||
Bookbalance | Bad-debtprovision | Provisionproportion | |
Undue | 1,004,331,583.99 | 501,763.97 | 0.05% |
1to60daysoverdue | 12,296,156.94 | 614,807.85 | 5.00% |
61to120daysoverdue | 3,978,537.27 | 1,193,561.18 | 30.00% |
121to180daysoverdue | 9,948.16 | 3,979.26 | 40.00% |
181to365daysoverdue | 50.00% | ||
1to2years(excluding1year) | 6,348.00 | 5,713.41 | 90.00% |
Over2years | 2,526,992.27 | 2,526,992.27 | 100.00% |
Relatedpartygroupinthescopeofconsolidation | 5,904,849,850.62 | 0.00 | 0.00% |
Total | 6,928,240,820.61 | 4,846,817.94 | -- |
Descriptiononbasisfordeterminingthegroup:
Provisionforbaddebtsmadebygroup:
InRMB
Description | ClosingBalance | ||
Bookbalance | Bad-debtprovision | Provisionproportion |
Descriptionsonbasisfordeterminingthegroup:
Ifthebad-debtprovisionforaccountsreceivableismadeaccordingtothegeneralmodelofexpectedcreditloss,pleaserefertothedisclosuremethodofotherreceivablestodisclosetherelevantinformationofbaddebtprovision:
?Applicable√N/ADisclosurebyaging
InRMB
Aging | Bookbalance |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Within1year(including1year) | 6,925,466,076.98 |
Undue | 1,004,331,583.99 |
1to60daysoverdue | 12,296,156.94 |
61to120daysoverdue | 3,978,537.27 |
121to180daysoverdue | 9,948.16 |
181to365daysoverdue | |
Relatedpartygroupinthescopeofconsolidation | 5,904,849,850.62 |
1to2years | 6,348.00 |
2to3years | 2,768,395.63 |
Total | 6,928,240,820.61 |
(2)Bad-debtprovisionmade,recoveredorreversedinthecurrentperiod
Bad-debtprovisionmadeinthecurrentperiod:
InRMB
Category | OpeningBalance | Amountofchangeinthecurrentperiod | ClosingBalance | |||
Provision | Recoverorreversal | Writeoff | Other | |||
Provisiononanindividualbasis | 241,403.36 | 241,403.36 | ||||
Provisiononagroupbasis | 3,148,698.64 | 1,699,043.64 | 924.34 | 4,846,817.94 | ||
Total | 3,390,102.00 | 1,699,043.64 | 924.34 | 5,088,221.30 |
Includingsignificantamountsreversedorrecoveredfromthecurrentprovisionforbaddebts:
InRMB
Entityname | Amountrecoveredorreversed | Recoverymethod |
(3)Accountsreceivableactuallywrittenoffinthecurrentperiod
InRMB
Item | Write-offamount |
Includingthewrite-offofsignificantaccountsreceivable:
InRMB
Entityname | Natureofaccountsreceivable | Write-offamount | Reasonsforwriteoff | Proceduresforwriteoff | Whetherthefundsaregeneratedbyrelatedpartytransactions |
Descriptionsonthewrite-offofotherreceivables:
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
(4)Accountsreceivablewithtopfiveclosingbalance-bydebtor
InRMB
Entityname | Closingbalanceofaccountsreceivable | Proportionintotalclosingbalanceofaccountsreceivable | Closingbalanceofbad-debtprovision |
Entity1 | 2,394,402,100.00 | 34.56% | |
Entity2 | 2,172,821,630.20 | 31.36% | |
Entity3 | 630,415,700.00 | 9.10% | |
Entity4 | 354,887,300.48 | 5.12% | |
Entity5 | 280,847,249.98 | 4.05% | 140,423.62 |
Total | 5,833,373,980.66 | 84.19% |
(5)Accountsreceivablederecognizedduetotransferoffinancialassets
(6)Amountofassetsandliabilitiesformedbytransferringaccountsreceivableandcontinuinginvolvement
Otherdescriptions:
2.Otherreceivables
InRMB
Item | ClosingBalance | OpeningBalance |
Dividendsreceivable | 11,543,626.19 | |
Otherreceivables | 543,164,102.94 | 524,425,779.85 |
Total | 554,707,729.13 | 524,425,779.85 |
(1)Interestreceivable
1)Classificationofinterestreceivable
InRMB
Item | ClosingBalance | OpeningBalance |
2)Significantoverdueinterest
Borrower | Closingbalance | Overduetime | Reasonsfordelay | Whetherthereisimpairmentanditsjudgmentbasis |
Otherdescriptions:
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
3)Bad-debtprovision
□Applicable√N/A
(2)Dividendsreceivable
1)Classificationofdividendsreceivable
InRMB
Item(orInvestee) | ClosingBalance | OpeningBalance |
Wan’anXiexunElectronicCo.,Ltd. | 11,543,626.19 | |
Total | 11,543,626.19 |
2)Significantdividendsreceivablewithagingover1year
InRMB
Item(orInvestee) | ClosingBalance | Aging | Reasonsfornon-recovery | Whetherthereisimpairmentanditsjudgmentbasis |
3)Bad-debtprovision
□Applicable√N/AOtherdescriptions:
(3)Otherreceivables
1)Classificationofotherreceivablesbynature
InRMB
Natureofreceivables | Closingbookbalance | Openingbookbalance |
Reservefund | 49,663.76 | 99,209.99 |
Securitydeposit | 221,000.00 | |
Importtaxrebatereceivable | 20,052,713.03 | |
Other | 191,697,001.27 | 191,539,338.72 |
Currentaccount | 332,444,406.04 | 333,529,849.71 |
Total | 544,243,784.10 | 525,389,398.42 |
2)Bad-debtprovision
InRMB
Bad-debtprovision | StageI | StageII | StageIII | Total |
12-monthECL | LifetimeECL(without | LifetimeECL(withcredit |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
creditimpaired) | unimpaired) | |||
BalanceasatJanuary1,2020 | 963,618.57 | 963,618.57 | ||
BalanceasatJanuary1,2020inthecurrentperiod | —— | —— | —— | —— |
Provisioninthecurrentperiod | 116,062.59 | 116,062.59 | ||
BalanceasatDecember31,2020 | 1,079,681.16 | 1,079,681.16 |
Changesinbookbalanceofprovisionforlosswithsignificantchangesinthecurrentperiod
?Applicable√N/ADisclosurebyaging
InRMB
Aging | Bookbalance |
Within1year(including1year) | 544,241,438.94 |
Undue | 210,503,376.79 |
1to60daysoverdue | 973,910.51 |
61to120daysoverdue | 314,440.30 |
121to180daysoverdue | 5,305.30 |
181to365daysoverdue | |
Relatedpartygroupinthescopeofconsolidation | 332,444,406.04 |
1to2years | 2,345.16 |
Total | 544,243,784.10 |
3)Bad-debtprovisionmade,recoveredorreversedinthecurrentperiod
Bad-debtprovisioninthecurrentperiod:
InRMB
Category | OpeningBalance | Amountofchangeinthecurrentperiod | ClosingBalance | |||
Provision | Recoverorreversal | Writeoff | Other | |||
Groupbyaging | 963,618.57 | 116,062.59 | 1,079,681.16 | |||
Total | 963,618.57 | 116,062.59 | 1,079,681.16 |
Includingsignificantamountsreversedorrecoveredfromthecurrentprovisionforbaddebts:
InRMB
Entityname | Amountreservedorrecovered | Recoverymethod |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
4)Otherreceivablesactuallywrittenoffinthecurrentperiod
InRMB
Item | Write-offamount |
Includingthewrite-offofsignificantotherreceivables:
InRMB
Entityname | Natureofotherreceivables | Write-offamount | Reasonsforwriteoff | Proceduresforwriteoff | Whetherthefundsaregeneratedbyrelated-partytransactions |
Descriptionsonthewrite-offofotherreceivables
5)Otherreceivableswithtopfiveclosingbalance-bydebtor
InRMB
Entityname | Natureofreceivables | Closingbalance | Aging | Proportionintotalclosingbalanceofotherreceivables | Closingbalanceofbad-debtprovision |
Entity1 | Currentaccount | 200,000,000.00 | Undue | 36.75% | |
Entity2 | Equitytransferfunds | 190,000,000.00 | Undue | 34.91% | 950,000.00 |
Entity3 | Currentaccount | 130,498,000.00 | Undue | 23.98% | |
Entity4 | Currentaccount | 20,052,713.03 | Undue | 3.68% | 100,263.57 |
Entity5 | Currentaccount | 949,127.17 | Undue | 0.17% | |
Total | -- | 541,499,840.20 | -- | 99.49% | 1,050,263.57 |
6)Receivablesinvolvinggovernmentgrants
InRMB
Entityname | Nameofgovernmentgrant | Closingbalance | Agingattheendoftheperiod | Estimatedtime,amountandbasisofcollection |
7)Otherreceivablesderecognizedduetotransferoffinancialassets
8)Amountofassetsandliabilitiesformedbytransferringotherreceivablesandcontinuinginvolvement
Otherdescriptions:
3.Long-termequityinvestments
InRMB
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Item | ClosingBalance | OpeningBalance | ||||
Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
Investmentinsubsidiaries | 13,406,253,703.42 | 28,560,179.80 | 13,377,693,523.62 | 9,972,755,414.87 | 28,560,179.80 | 9,944,195,235.07 |
Investmentinjointventuresandassociates | 260,260,811.77 | 34,372,608.46 | 225,888,203.31 | 259,808,313.65 | 34,372,608.46 | 225,435,705.19 |
Total | 13,666,514,515.19 | 62,932,788.26 | 13,603,581,726.93 | 10,232,563,728.52 | 62,932,788.26 | 10,169,630,940.26 |
(1)Investmentinsubsidiaries
InRMB
Investee | Openingbalance(bookvalue) | Increaseanddecreaseinthecurrentperiod | Closingbalance(bookvalue) | Closingbalanceofprovisionforimpairment | ||||
Additionalinvestment | Reducedinvestment | Provisionforimpairment | Other | |||||
ASAPTechnology(Jiangxi)Co.,Ltd. | 269,252,401.16 | 2,190,371.05 | 271,442,772.21 | |||||
XiexunElectronic(Ji'an)Co.,Ltd. | 242,137,662.88 | 1,651,816.82 | 243,789,479.70 | |||||
SuiningLuxsharePrecisionIndustryCo.,Ltd. | 1,779,965.55 | 511,479.35 | 2,291,444.90 | |||||
LuxsharePrecisionTechnologyCo.,Ltd. | 58,059,935.32 | 100,000,000.00 | 158,059,935.32 | |||||
ICT-LANTOLIMITED | 534,084,500.26 | 534,084,500.26 | ||||||
LuxsharePrecisionLimited | 32,708,137.68 | -284,307.78 | 32,423,829.90 | |||||
LantoElectronic | 2,192,820,238. | 1,095,998,647. | 3,288,818,885. |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Limited | 44 | 12 | 56 | ||
DongguanLeaderPrecisionIndustryCo.,Ltd. | 63,493,794.31 | 1,200,894.57 | 64,694,688.88 | ||
KunshanLuxsharePrecisionIndustryCo.,Ltd. | 430,091,772.36 | 92,853,142.31 | 522,944,914.67 | ||
Wan’anXiexunElectronicCo.,Ltd. | 40,164,974.04 | 83,521.15 | 40,248,495.19 | ||
FujianJKWiringSystemsCo.,Ltd.. | 96,964,062.97 | 133,938.23 | 97,098,001.20 | ||
Ji’anJizhoudistrictLuxshareElectronicCo.,Ltd. | 8,112,772.81 | -62,671.86 | 8,050,100.95 | ||
XingningLuxshareTechnologyCo.,Ltd. | 215,943.92 | 215,943.92 | |||
LuxsharePrecisionIndustry(Chuzhou),Ltd. | 761,318,025.91 | 7,066,532.95 | 768,384,558.86 | ||
SuKKunststofftechnikGmbH | 33,746,516.14 | 33,746,516.14 | |||
FengshunLuxsharePrecisionIndustryCo.,Ltd. | 10,076,141.87 | 38,549.00 | 10,114,690.87 | ||
ShenzhenLuxshare | 4,081,506.28 | -156,512.01 | 3,924,994.27 | 28,560,179.80 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
AcousticsTechnologyLtd. | ||||
DongguanLuxsharePrecisionIndustryCo.,Ltd. | 1,001,329,142.07 | 22,668,525.46 | 1,023,997,667.53 | |
LuxshareAutomation(Jiangsu)Ltd. | 38,027,834.69 | 3,328,145.99 | 41,355,980.68 | |
ShenzhenLuxshareStandardCo.,Ltd. | 21,000,000.00 | 21,000,000.00 | ||
JiangxiLuxshareIntelligentManufactureCo.,Ltd. | 995,790,836.43 | 63,489,154.64 | 1,059,279,991.07 | |
DonguanXuntaoElectronicCo.,Ltd. | 1,561,134.02 | -10,933,958.18 | -9,372,824.16 | |
LuxshareElectronicTechnology(Kunshan)Co.,Ltd. | 1,604,961,044.49 | 641,949,758.70 | 2,246,910,803.19 | |
LuxsharePrecisionComponents(Kunshan)Co.,Ltd. | 79,543,166.18 | 21,848,053.86 | 101,391,220.04 | |
LuxsharePrecisionIndustry(Enshi)Co.,Ltd. | 63,000,000.00 | 37,975,752.97 | 100,975,752.97 | |
YongxinCountyBoshuo | 263,449.36 | 349,933.26 | 613,382.62 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
ElectronicsCo.,Ltd. | ||||
Luxshare-ICT(Japan) | 742,801.20 | 1,491,127.38 | 2,233,928.58 | |
TaiwanLuxsharePrecisionLimited | 31,180,665.86 | 72,432,574.07 | 103,613,239.93 | |
Luxshare-ICT,inc. | 11,429,601.78 | 14,722,997.63 | 26,152,599.41 | |
KoreaLuxshare-ICTCo.,Ltd. | 2,431,448.58 | 1,638,515.07 | 4,069,963.65 | |
LUXSHARE-ICTEUROPELIMITED | 304,567.47 | 154,194.82 | 458,762.29 | |
MeiteTechnology(Suzhou)Co.,Ltd. | 2,576,133.16 | 920,675.17 | 3,496,808.33 | |
Kunshan-LuxshareRFTechnologyCo.,Ltd. | 1,730,833.09 | 20,589,815.84 | 22,320,648.93 | |
MeilvElectronic(Huizhou)Co.,Ltd. | 571,900.00 | -154,420.02 | 417,479.98 | |
Ji’anCountyBranchofLuxshareAutomation(Jiangsu)Ltd. | ||||
JiangxiASAPElectronicCo.,Ltd. | 1,022,839.08 | 485,876.34 | 1,508,715.42 | |
LuxsharePrecisionIndustry | 241,115.91 | 441,712.25 | 682,828.16 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
(Baoding)Co.,Ltd. | |||||
LuxsharePrecisionIndustry(Shanxi)Co.,Ltd. | 837,894.93 | 532,879.24 | 1,370,774.17 | ||
GuangdongLuxshareMerryElectronicCo.,Ltd. | |||||
GuangdongLuxshareMerryElectronicCo.,Ltd. | 3,199,193.61 | -2,141,089.88 | 1,058,103.73 | ||
BozhouLantoElectronicLimited | 2,523,662.33 | 1,399,658.70 | 3,923,321.03 | ||
KunshanLuxsharePrecisionMouldCo.,Ltd. | 2,555,423.16 | -503,108.45 | 2,052,314.71 | ||
HuzhouJiudingElectronicCo.,Ltd. | 626,901.37 | 317,384.94 | 944,286.31 | ||
XinyuXiexunElectronicCo.,Ltd. | 212,688.11 | 7,073,830.88 | 7,286,518.99 | ||
LuxsharePrecisionIndustry(Xi’an)Co.,Ltd. | 64,000,000.00 | 64,000,000.00 | |||
LuxsharePrecisionIndustry(Suzhou)Co.,Ltd. | 111,000,000.00 | 19,000,000.00 | 130,000,000.00 | ||
LuxshareIntelligent | 403,156,886.94 | 344,363,709.71 | 747,520,596.65 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Manufacture(Zhejiang)Co.,Ltd. | ||||
luxshareGlobalCableInc. | ||||
BozhouXuntaoElectronicLimited | 85,785.00 | 84,183.40 | 169,968.40 | |
DongguanLuxshareTechnologyCo.,Ltd. | 696,027,859.24 | 187,657,696.61 | 883,685,555.85 | |
XuanchengLuxsharePrecisionIndustryCo.,Ltd. | 177,664.36 | 3,234,157.92 | 3,411,822.28 | |
BeijingLuxshareAcousticTechnologyCo.,Ltd. | 190,354.67 | 3,373,288.87 | 3,563,643.54 | |
LuxshareIntelligentManufactureTechnology(Changshu)Co.,Ltd. | 23,000,000.00 | 693,342,959.97 | 716,342,959.97 | |
XingningLuxshareElectronicCo.,Ltd. | 143,840.32 | 143,840.32 | ||
SpeedTechCorp. | 906,496.72 | 906,496.72 | ||
LuxshareTechnologiesLimited | 1,872,619.53 | 1,872,619.53 | ||
LuxshareSmartTechnology(Rugao)Co., | 12,000,000.00 | 12,000,000.00 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Ltd. | ||||||
ChangshuLuxshareIndustrialInvestmentManagementCo.,Ltd. | 30,000,000.00 | 30,000,000.00 | ||||
Total | 9,944,195,235.07 | 3,497,498,288.55 | 64,000,000.00 | 13,377,693,523.62 | 28,560,179.80 |
(2)Investmentinjointventuresandassociates
InRMB
Investee | Openingbalance(bookvalue) | Increaseanddecreaseinthecurrentperiod | Closingbalance(bookvalue) | Closingbalanceofprovisionforimpairment | |||||||||
Additionalinvestment | Reducedinvestment | Investmentprofitorlossrecognizedunderequitymethod | Othercomprehensiveincomeadjustment | Otherchangesinequity | Declaredcashdividendsorprofits | Provisionforimpairment | Other | ||||||
I.Jointventures | |||||||||||||
II.Associates | |||||||||||||
Siliconch | 25,502,902.88 | -2,839,396.33 | 22,663,506.55 | ||||||||||
ZhuhaiKinwongFlexibleCircuitCo.,Ltd. | 199,932,802.31 | 3,291,894.45 | 203,224,696.76 | 34,372,608.46 | |||||||||
Subtotal | 225,435,705.19 | 452,498.12 | 225,888,203.31 | 34,372,608.46 | |||||||||
Total | 225,435,705.19 | 452,498.12 | 225,888,203.31 | 34,372,608.46 |
(3)Otherdescriptions
4.Operatingincomeandoperatingcosts
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod | ||
Income | Cost | Income | Cost |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
Principalbusiness | 11,464,276,490.11 | 10,754,493,607.05 | 4,311,003,122.10 | 3,931,734,512.43 |
Otherbusiness | 100,827,039.16 | 26,703,475.62 | 62,594,534.16 | 22,925,428.05 |
Total | 11,565,103,529.27 | 10,781,197,082.67 | 4,373,597,656.26 | 3,954,659,940.48 |
Incomerelatedtoinformation:
InRMB
Contractclassification | Segment1 | Segment2 | Total | |
Including: | ||||
Including: | ||||
Including: | ||||
Including: | ||||
Including: | ||||
Including: | ||||
Including: |
Informationrelatedtoperformanceobligations:
PerformanceobligationsspecifiedintheCompany’scontractsinclude:todeliverproductstocustomers,todeliverproductstocustomersaccordingtothedeliverydatesagreedincontractorders,andmakepaymentsbycustomersaccordingtothepaymentdatesagreedintheordersafterthecontrolhasbeentransferredtothecustomersuponinspectionandacceptance.TheCompanyisobligatedtodelivertocustomersproductswhichcanbeacceptedbythecustomers.TheCompanypurchasesrawmaterialsfromsuppliers,andcombinestherawmaterialsintocertainproductsfordeliverytothecustomersthroughsignificantproductionandprocessingactivities.yConsideringitassumesthemajorresponsibilitiesfordeliveringproductstothecustomers,theCompanyisdeemedastheprimaryresponsibleparty.TheCompanyisnotobligatedtoreturnthereceivedcustomers’goodspaymentsinanticipation,butithasaqualitywarrantyresponsibilityfortheproductsdeliveredtothecustomers.SincethisresponsibilityisanaffirmativewarrantywhichisrequiredtoensurethattheCompany’sproductsshallmeetthetechnicalparameters,quality,appearanceandotherrequirementsofthecustomers,ratherthanaservicewarranty,thisqualitywarrantydoesnotconstituteaseparateperformanceobligation.Informationrelatingtothetransactionpriceallocatedtotheremainingperformanceobligations:
Attheendofthereportingperiod,theincomescorrespondingtothecontractssignedwhoseperformancehasnotbeencommencedorcompletedamounttoRMB0.00,ofwhichRMBisexpectedtoberecognizedin,RMBisexpectedtoberecognizedin,andRMBisexpectedtoberecognizedin.Otherdescriptions:
5.Investmentincome
InRMB
Item | Amountrecognizedinthecurrentperiod | Amountrecognizedinthepriorperiod |
Long-termequityinvestmentincome | 3,325,246,159.60 | 792,348,017.08 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
accountedforusingthecostmethod | ||
Long-termequityinvestmentincomeaccountedforusingtheequitymethod | 452,498.12 | -59,092,453.94 |
Investmentincomefromdisposaloflong-termequityinvestment | -58,000.00 | -86,909,611.82 |
Investmentincomefromheld-for-tradingfinancialassetsduringholdingperiod | 14,791,876.12 | -772,350.00 |
Dividendincomefromotherequityinstrumentinvestmentsduringtheholdingperiod | 956,475.00 | |
Incomefromwealthmanagementproducts | 69,496,746.15 | 44,445,784.15 |
Total | 3,409,929,279.99 | 690,975,860.47 |
6.Others
XVIII.SupplementaryInformation
1.Breakdownofnon-recurringprofitorlossforthecurrentperiod
√Applicable□N/A
InRMB
Item | Amount | Remarks |
Profitorlossfromdisposalofnon-currentassets | -35,503,173.93 | |
Governmentgrantsrecognizedinthecurrentprofitorloss(exceptforthegovernmentgrantswhicharecloselyrelatedtothebusinessoftheenterpriseandenjoyedinaccordancewiththenationalunifiedstandardquota) | 450,749,695.89 | |
Profitorlossonassetsunderentrustedinvestmentormanagement | 113,778,335.78 | |
Exceptforeffectivehedgingbusinessrelatedtothecompany’snormalbusinessoperations,profitorlossfromchangesinfairvaluearisingfromtheholdingofheld-for-tradingfinancialassets,derivativefinancialassets,held-for-tradingfinancialliabilities,derivativefinancialliabilities,and | 837,100,369.42 |
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
investmentincomefromdisposalofheld-for-tradingfinancialassets,derivativefinancialassets,held-for-tradingfinancialliabilities,derivativefinancialliabilitiesandotherdebtinvestments | ||
Othernon-operatingincomeandexpensesexcepttheaboveitems | 30,554,498.37 | |
Less:Affectedquantumofincometax | 214,489,873.68 | |
Affectedquantumofminorityinterest | 45,628,950.13 | |
Total | 1,136,560,901.72 | -- |
Itisrequiredtospecifythereasonfordefiningitemsasnon-recurringprofitorlossitemsaccordingtoInformationDisclosureandPresentationRulesforCompaniesMakingPublicOfferingofSecuritiesNo.1-Non-recurringProfitorLoss,andreasonsfordefiningnon-recurringprofitorlossitemsillustratedinInformationDisclosureandPresentationRulesforCompaniesMakingPublicOfferingofSecuritiesNo.1-Non-recurringProfitorLossasrecurringprofitorlossitems.
□Applicable√N/A
2.Returnonequityandearningspershare
Profitinthereportingperiod | Weightedaveragereturnonequity | Earningspershare | |
Basicearningspershare(RMB/share) | Dilutedearningsper(RMB/share) | ||
NetprofitattributabletoordinaryshareholdersoftheCompany | 30.29% | 1.03 | 1.01 |
Netprofitafterdeductionofnon-recurringprofitsorlossesattributabletoordinaryshareholdersoftheCompany | 26.15% | 0.87 | 0.85 |
3.Accountingdatadifferencesunderdomesticandforeignaccountingstandards
(1)DifferencesofnetprofitandnetassetsinfinancialreportsdisclosedaccordingtooverseasaccountingstandardsandChineseaccountingstandardsatthesametime
□Applicable√N/A
(2)DifferenceofnetprofitandnetassetinfinancialreportsdisclosedaccordingtooverseasaccountingstandardsandChineseaccountingstandardsatthesametime
□Applicable√N/A
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
(3)Descriptionsonthereasonsforthedifferencesofaccountingdataundertheaccountingstandardsathomeandabroad,andthenameoftheoverseasinstitutionifdifferenceadjustmentismadetothedataauditedbyanoverseasauditinstitution
4.Others
ThisdocumentisatranslatedversionoftheChineseversionAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.(“《立讯精密2020年年度报告》”),andthepublishedAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.intheChineseversionshallprevail.ThecompletepublishedChineseAnnualReport2020ofLuxsharePrecisionIndustryCo.,Ltd.maybeobtainedatwww.cninfo.com.cn.
SectionXIIIListofDocumentsAvailableforInspection
1.Financialstatementswithsealsandsignaturesoflegalrepresentative,thechieffinancialofficerandtheheadofaccountingdepartment(thepersoninchargeofaccounting).
2.Theoriginalauditor’sreportwithsealsoftheaccountingfirmandsealsandsignaturesofthecertifiedpublicaccountants.
3.AlloriginaldocumentsandannouncementsoftheCompanypubliclydisclosedinthewebsitesdesignatedbytheCSRCwithintheReportingPeriod.
4.Otherrelevantmaterials.
LuxsharePrecisionIndustryCo.,Ltd.
Chairman:WANGLaichun
April20,2021