FIYTA HOLDINGS LTD.
2014 Annual Report
March, 2015
Chapter 1 Important Notice, Table of Contents and Definition
The Board of Directors, the Supervisory Committee, directors, supervisors and senior executives hereby
individually and collectively accept responsibility for the correctness, accuracy and completeness of the contents
of this report and confirm that there are neither material omissions nor errors which would render any statement
misleading.
Except the following directors, all the other directors personally attended the board meeting for reviewing the
Annual Report.
Names of the directors Titles of the directors Cause of failure in
failed in attending the failed in attending the attending the board Names of the attorneys
board meeting personally board meeting personally meeting personally
Huang Yongfeng Director Business trip Zhong Sijun
Liu Aiyi Director Health problem Wang Mingchuan
Zhang Hongguang Independent director Business trip Wang Yan
The profit distribution preplan reviewed and approved by the said board meeting is summarized as follows: With
the Company’s total share capital 392767870 as the base, the Company would distribute cash dividend at the rate
of CNY 1.00 for every 10 shares (with tax inclusive) and bonus share at the rate of ) 0 share to the whole
shareholders and no reserve would be converted into share capital.
Mr. Xu Dongsheng, the Company leader, Mr. Hu Xinglong, chief financial officer, and Mr. Hu Xinglong, the manager
of the accounting department (treasurer) hereby confirm the authenticity and completeness of the financial report
enclosed in this Annual Report.
Any perspective description, such as future plan, development strategy, etc. involved in the Annual Report shall
not constitute the Company’s substantial commitment to the investors and the investors should please pay
attention to their investment risks.
Table of Contents
2014 Annual Report
Chapter 1 Important Notice, Table of Contents and Definitions
Chapter 2 Company Profile
Chapter 3 Financial Highlights
Chapter 4 Report of the Board of Directors
Chapter 5 Significant Events 41
Chapter 6 Changes in Shares and Particulars about the Shareholders
Chapter 7 About the Preferred Shares
Chapter 8 Directors, Supervisors, Senior Executives and Staff
Chapter 9 Corporate Governance
Chapter 10 Internal Control
Chapter 11 Financial Report
Chapter 12 List of Documents Available for Inspection
Definition
Terms to be defined Refers to Definition
This Company, the Company or Fiyta Refers to FIYTA Holdings Ltd.
AVIC International Holdings Refers to AVIC International Holdings Limited
HARMONY Refers to Shenzhen Harmony World Watches Center Co., Ltd.
Rainbow Supermarket Refers to Rainbow Supermarket Co., Ltd.
CATIC Real Estate Refers to CATIC Real Estate Co., Ltd.
CATIC Property Refers to CATIC Property Management Co., Ltd.
Important Risk Notice
Securities Times, Hong Kong Commercial Daily and www.cninfo.com.cn are the media designated for disclosing
our information for the year 2014. All the Company’s information is subject to the information disclosed in the
aforesaid media as designated. Investors are requested to pay attention to the risks involved in your investment.
Chapter 2 Company Profile
I. Company Information
Short form of the stock: FIYTA A, FIYTA B Stock Codes: 000026 and 200026
Stock Exchange Listed
Shenzhen Stock Exchange
with
Company Name In
飞亚达（集团）股份有限公司
Chinese
Abbreviation of
Registered Company 飞亚达公司
Name in Chinese
Company name in foreign
FIYTA HOLDINGS LTD.
language (if any)
Short form of the
Company name in foreign FIYTA
language (if any)）
Legal Representative Xu Dongsheng
Registered address: FIYTA Technology Building, Gaoxin S. Road One, Nanshan District, Shenzhen
Postal Code of the
Registered Address
Office Address 20th Floor, FIYTA Technology Building, Gaoxin S. Road One, Nanshan District, Shenzhen
Postal Code of the Office
Address
Internet Web Site www.fiytagroup.com
E-mail investor@fiyta.com.cn
II. Liaison Persons and Communication Information
Secretary of the Board Securities Affairs Representative
Names Lu Wanjun Zhang Yong
th
20 Floor, FIYTA Technology 20th Floor, FIYTA Technology
Liaison Address Building, Gaoxin S. Road One, Building, Gaoxin S. Road One,
Nanshan District, Shenzhen Nanshan District, Shenzhen
Tel. 0755－86013198 0755－86013669
Fax 0755－83348369 0755－83348369
E-mail investor@fiyta.com.cn investor@fiyta.com.cn
III. Information Disclosure and Place of Regular Reports Prepared for Inquiry
Newspapers Designated for Disclosing the Securities Times
Information: and Hong Kong Commercial Daily
Internet Web Site Designated by China
www.cninfo.com.cn
Securities Regulatory Commission for
Publishing the Company’s semi-annual report:
Place of the Company’s Semi-annual Report
Office of the Board of Directors
Prepared for Inquiry
IV. Changes in Registration
Number of
Business
Date of Authority Taxation Organization
License of
Registration Registered with Registration No.: Code
Enterprise as
Legal Person
Shenzhen
Municipal l
Initial registration March 30, 1990 Administration 19218978-3 19218978-3
for Industry and
Commerce
Market
Registration at Supervision
4403011031960 4403011921897
the end of the April 03, 2013 Administration of 19218978-3
89
reporting period Shenzhen
Municipality
Changes in principal business
Nil
activities since listing (if any)
Changes in the controlling
Nil
shareholder in the past (if any)
V. Other Relevant Information
CPAs engaged
Name of the CPAs Grant Thornton Certified Public Accountants (Special General Partnership)
5th Floor, Scitech Tower, 22 Jianguomen Wai Avenue, Chaoyang District, Beijing
Office address
Names of the Certified Public
Su Yang and Chen Zhifang
Accountants as the signatories
The sponsor performing persistent supervision duties engaged by the Company in the reporting period
Inapplicable
The financial advisor performing persistent supervision duties engaged by the Company in the reporting period
Inapplicable
Chapter 3 Financial Highlights
I. Summary of Accounting/Financial Data
May the Company make retroactive adjustment or restatement of the accounting data of the previous years due to change
of the accounting policy and correction of accounting errors?
No
Year-on-year
2014 2013 increase/decrease
(%)
Turnover in CNY 3,278,142,785.87 3,103,496,962.22 5.63% 3,023,962,527.25
Net profit attributable to the
Company’s shareholders, in 145,591,136.39 130,125,124.48 11.89% 116,003,746.03
CNY
Net profit attributable to the
Company’s shareholders less
136,799,116.72 127,158,503.02 7.58% 113,231,625.62
the non-recurring items, in
CNY
Net cash flows arising from
289,189,630.97 79,047,490.92 265.84% 45,846,659.76
operating activities, in CNY
Basic earning per share
0.3710 0.3310 12.08% 0.295
(CNY/share)
Diluted earning per share
0.3710 0.3310 12.08% 0.295
(CNY/share)
Return on equity, weighted
8.62% 8.69% -0.07% 8.18%
average (%)
Increase/decrease
at the end of the
End of 2014 End of 2013 year over the end End of 2012
of the previous
year (%)
Total assets, in CNY 3,657,781,647.20 3,558,702,591.28 2.78% 3,326,763,824.86
Net assets attributable to the
Company’s shareholders
(owner’s equity attributable to 1,633,401,930.64 1,536,434,684.56 6.31% 1,446,677,625.13
the Company’s shareholders,
in CNY)
II. Difference in the Accounting Data based respectively on the Chinese Accounting Standards (CAS) and
International Accounting Standards (IAS)
(I) Differences in the net profit disclosed in the financial report & the net assets attributable to the Company’s shareholders
respectively according to the IAS and the CAS.
Inapplicable
(II) Didfferences in the net profit disclosed in the financial report & the net assets attributable to the Company’s
shareholders according to both the IAS and the CAS
Inapplicable
III. Non-recurring gain/loss items and the amount involved
In CNY
Items Amount in 2014 Amount in 2013 Amount in 2012 Notes
Gain/Loss from disposal of
non-current assets, including the part
-44,920.98 388,966.99 -236,304.20
offset with the provision for impairment
of assets
Tax rebate or reduction with approval
by overstepping authority, or without 0.00 0.00
formal approval document
For the detail,
refer to Note
Government subsidy recognized in VII.69:
current gain and loss (excluding those Non-operating
closely related to the Company’s income:
10,344,542.00 3,610,593.36 5,176,129.77
business and granted under the state’s Government
policies according to certain quota of subsidy
amount or volume) recognized in
current gain and
loss
Fund occupancy consideration
received from non-financial institution
0.00 0.00
counted to the current gains and
losses
Income from the costs of the
investments in the subsidiaries,
associates and joint ventures as
acquired less than the fair value of the
0.00 0.00
enjoyable recognizable net assets of
the investees at the time of investment
acquired.
Exchange gain/loss from
0.00 0.00
non-monetary assets
Gain/loss from entrusted investment or
0.00 0.00
asset management
Provision for impairment of various
assets arising from force majeure, 0.00 0.00
such as natural disaster
Gains and losses from debts
0.00 0.00
reorganization
Enterprise reorganization fee, such as
expenses for arrangement for 0.00 0.00
employees, integration fee, etc.
Gains/losses exceeding the fair value
arising from transactions with 0.00 0.00
obviously unfair prices
Net gain and loss of the subsidiary
under the common control and
produced from enterprise 0.00 -2,130,265.54
consolidation from the beginning of the
period to the consolidation date
Gain and loss arising from contingent
matters irrelevant with the Company’s 0.00 0.00
normal operation business
Gain and loss from change of the fair
value arising from transactional
monetary assets, transactional
financial liabilities as held as well as
the investment income arising from
disposal of the transactional monetary 0.00 0.00
assets, transactional financial liabilities
and financial assets available for sale
excluding the effective hedging
transaction in connection with the
Company’s normal business
Reverse of the provision for
impairment of accounts receivable
0.00 0.00
undergoing impairment test
individually
Gain/loss from external entrusted loan 0.00 0.00
Gain and loss arising from change in
the fair value of the investment based
0.00 0.00
real estate measured afterwards by
means of fair value model
Influence upon the current gains and
losses from the once-and-for-all
adjustment over the current gains and 0.00 0.00
losses according to the taxation and
accounting laws and regulations
Income from custodian charge
0.00 0.00
obtained from entrusted operation
Operating income and expenses other
-153,915.17 1,389,127.26
than the aforesaid items
Other gains/losses in compliance with
the definition of non-recurring 1,149,979.86 0.00 0.00
gain/loss
Less: Amount affected by the income
2,657,581.21 873,382.95 1,425,666.23
tax
Amount affected by minority equity
(after tax) 5,640.77 900.65
Total 8,792,019.67 2,966,621.46 2,772,120.41 --
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No. 1 on Information
Disclosure for Companies Offering their Securities to the Public – Non-recurring Gains and Losses and its non-recurring
gain/loss items as illustrated in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering
their Securities to the Public – Non-recurring Gains and Losses which have been defined as recurring gains and losses, it is
necessary to explain the reason.
Inapplicable
In the reporting period, there existed no item of recurring gain/loss defined as non-recurring gain/loss as defined and
illustrated according to the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering their
Securities to the Public – Non-recurring Gains and Losses.
Chapter 4 Report of the Board of Directors
I. General
During the reporting period, affected by the factors of domestic and foreign policies and economy, etc., the domestic market
maintained a cautious attitude towards the consumption of high-end famous brand watches and consumption of high-end
brands tended to be rational and mature day after day and develops towards a real and sustainable orientation. The
domestic consumers’ demand on medium and lower end watch brands was gradually discharging. As a result, the sales of
medium end Swiss watch brands and home-made watch brands grew significantly. There existed new opportunity in profit
growth in the industry. Meanwhile, such factors as the new urbanization, especially the rise of the third- and fourth-tier cities,
accelerated release of benefits from the reform, etc. led to bigger consumption growth expectation of the domestic watch
brand enterprises. Under such a background, the Company, focusing on the annual strategic theme of “deepening the
values, elevating the benefits and enhancing integration”, continued to improve the nation-wide channel operation platform
system, organized implementation of per-unit yield promotion work, persistently improved the sustaining power of the
resource service platform, and promoted integration and developmebnt of various businesses. In the reporting period, the
Company’s overall earning power, the assets struct
