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飞亚达B:2020年半年度报告摘要(英文版) 下载公告
公告日期:2020-07-30

Stock Code: 000026 200026 Short Form of Stock: FIYTA , FIYTA B Announcement No.: 2020-048

FIYTA Precision Technology Co., Ltd.

2020 Semi-annual Report, Summary

1. Important Notice

This summary of the Semi-annual Report is quoted out of the full text of the Semi-annual Report. Investors desirous tounderstand entirely the Company's operation results, financial position and future development planning are advised tocarefully read the full text of the Semi-annual Report which is published in the medium designated by CSRC.

All the directors attended the board meeting for reviewing the Annual Report.

Indication of qualified audit opinionInapplicable

The profit distribution preplan or the preplan for conversion of reserve into capital for the reporting period reviewed by theBoard of DirectorsInapplicable

Profit Distribution Preplan for Preferred Shares during the Reporting Period Approved by the Resolution of the Board ofDirectorsInapplicableIII. Company ProfileI. Company Information

Short form of the stock:FIYTA and FIYTA BStock Code000026 and 200026
Stock Exchange Listed withShenzhen Stock Exchange
Short form of the stock before the change (if any)FIYTA A
Liaison Persons and Communication InformationSecretary of the BoardSecurities Affairs Representative
NamePan BoZhang Yong
Office Address18th Floor, FIYTA Technology Building, Gaoxin S. Road One, Nanshan District, Shenzhen20th Floor, FIYTA Technology Building, Gaoxin S. Road One, Nanshan District, Shenzhen
Tel.0755-860136690755-86013669
E-mailinvestor@fiyta.com.cninvestor@fiyta.com.cn

2. Financial Highlights

Does the Company need to make retroactive adjustment or restatement of the accounting data of the previous yearsNo

Reporting periodSame period of the previous yearYear-on-year increase/decrease in the reporting period
Revenue in CNY1,581,834,715.031,785,036,020.23-11.38%
Net profit attributable to the Company’s shareholders, in CNY77,738,906.30123,495,460.90-37.05%
Net profit attributable to the Company’s shareholders less the non-recurring items, in CNY68,669,477.45113,627,146.69-39.57%
Net cash flows arising from operating activities, in CNY103,645,235.27159,014,650.37-34.82%
Basic earning per share (CNY/share)0.17750.2788-36.33%
Diluted earning per share (CNY/share)0.17750.2788-36.33%
Return on equity, weighted average2.91%4.69%-1.78%
End of the reporting periodEnd of the previous yearIncrease/decrease at the end of the year over the end of the previous year
Total assets (in CNY)3,837,627,638.423,760,923,285.372.04%
Net profit attributable to the Company’s shareholders, in CNY2,628,145,112.242,654,533,766.99-0.99%

3. Number of Shareholders and Shareholding

In shares

Total common shareholders at the end of the reporting period34,122Total preference shareholders with the voting power recovered at the end of the reporting period (if any)0
Shareholding by top 10 shareholders
Names of the ShareholdersNature of the shareholderShareholding proportionShareholding quantityNumber of the restricted shares heldPledging or freezing
Status of the sharesQuantity
AVIC International Holding LimitedState corporate38.06%162,977,3270
#Yang ZuguiDomestic natural person4.47%19,144,6210
Yang SancaiDomestic natural person2.34%9,999,9330
Zhang SufenDomestic natural person0.80%3,420,0000
Zhang HuamingDomestic natural person0.44%1,873,8000
Qiu HongDomestic natural person0.35%1,500,0000
Na ZhizhongDomestic natural person0.35%1,480,1630
# Li YueDomestic natural person0.23%1,000,0000
Penghua Fund - Minsheng Bank - Penghua Fund - Huili No. 1 Assets Management PlanDomestic non-state-owned legal person0.22%951,7000
# Shen XuewenDomestic natural person0.21%883,9200
Explanation on associated relationship or consistent action of the above shareholdersInapplicable
Note to the shareholder(s) involved in the securities margin trading (if any)Inapplicable

4. Change of the Controlling Shareholder or Actual Controller

Inapplicable

5. Total preferred shareholders and the shareholding by the top 10 preferred shareholdersInapplicable

6. Company Bond

Did there exist any company bonds which were issued to the public and listed with the stock exchange for trading and was

due by the date when the Semi-annual Report was approved for issuing or failed to be fully cashed by the end of thereporting period.NoIII. Discussion and Analysis on the Operation

1. Operation Summary in the Reporting Period

Does the Company need to comply with the disclosure requirements of special industryNo

At the beginning of 2020, a sudden outbreak of COVID-19 brought about an unprecedented impact on the economy.Being confronted with the severe challenge of the market situation, the Company resolutely implemented the strategicdeployment of the CPC Central Committee and the superior, started the wartime combat system, comprehensivelypromoted the epidemic prevention and control work, and ensured employees to be “zero suspected and zero confirmed”for the disease. At the same time, the Company actively carried forward the resumption of work and production; throughstrict cost control, seized the market opportunity; through WeChat, live broadcast and other ways, actively expandedcommunity marketing, social marketing and through continuous innovation, adapted to the market situation andcompetitive situation after the epidemic. In the first half of the year, in response to the progress of the epidemic, theCompany successively planned and promoted the “epidemic prevention and control war”, “market recovery war” and“operation counterattack war”, which have demonstrated the Company’s strong market recovery and adjustment andadaptation ability. Having experienced the test of the epidemic, the Company has continuously improved its team fightingability and profitability.

During the first half year, the Company achieved operating revenue amounting to CNY 1,581,834,700, a year-on-yeardecrease of 11.38%, and realized net profit attributable to the shareholders of the listed company amounting to CNY77,738,900, a year-on-year decrease of 37.05%. Where, the operating revenue in the second quarter was CNY 993.4737million, a year-on-year increase of 11.42%, and the net profit attributable to shareholders of the listed company was CNY

90.7137 million, a year-on-year increase of 53.40%, which set a new record in the single-quarter operating revenue andnet profit attributable to the shareholders of the listed company. During the reporting period, the Company achieved adeep V-shaped rebound trend in its business. This February was the month in which the Company was affected worst bythe COVID-19 - its revenue dropped by more than 70% year on year and recorded a significant loss in a single month.Since March, the operating revenue and profit rebounded rapidly, although the recovery of the offline customer volumewas still below that as expected. Since May and June, the Company has achieved a significant growth in its operatingrevenue and profit.

In terms of different businesses, the current revenue from the self-owned brands has recovered to more than 90% in thesame period of last year, and the current profit has achieved a sharp year-on-year growth in the second quarter. In termsof the business of the world brand watches, especially high-end Swiss watch brands, benefited from overseasconsumption backflow and the Company’s continuous optimization of the channels and brands in recent years, theCompany realized a high-speed growth in revenue and profit in the second quarter which have stimulated the Company inquick improvement of overall income and profitability. The Company has also a good performance in the growth ofprecision technology, has achieved an outstanding progress in accumulation of the technology and products of smartwears. The Company is optimistic about the follow-up business development and performance growth on overall basis.During the reporting period, the Company carried out the following key work:

I. Having started the "wartime" command system and launched the "epidemic prevention and control war"During the reporting period, the Company launched a “wartime system” and strictly followed the deployment of the centralgovernment and authorities of higher levels to do its best to prevent and control the epidemic. The Company's currentproduction and operations have returned to normal, and the employees’ operation and production resumption rate was100%, and there was no suspected or confirmed case. To cope with the impact of the epidemic on its business, theCompany quickly adjusted its business strategy, centered on supporting current sales, strictly controlled all non-essentialexpenses, and strengthened cash flow management. In the first half of 2020, the Company's overall expenses fell by 9.07%on year-on-year basis and a significant result was achieved.

II. Seizing the market opportunities and quickly launching the "market recovery war" and "market counterattack”Under the personal direction of General Secretary Xi Jinping, China has brought the epidemic under fundamental control.The Chinese government is trying every means to support the whole people to get through this tough time with variouspolicies and promote the economy recovery. The Company quickly adjusted its status in various businesses and carriedout the “market recovery war” and “operation counterattack”, and achieved rapid revenue rebound and profit overtaking,and further enhanced the competitive advantage of the principal businesses. During the reporting period, the new imageof the “FIYTA” brand channel was gradually spread across the country, and the special work of excellent channeloperation and sales excellence continued to be implemented; the Four-leaf Clover and Xtreme Series of new products

were launched as scheduled, and the Company won the 2020 IF Design Award for its “FIYTA” brand dual visual displaycustomization concept watch; the memorial watch of FIYTA fighting against the “epidemic” to pay tribute to the “heroes inharm’s way” in the battle against COVID-19; the brand-new image blockbuster of “FIYTA” Brand spokesperson GaoYuanyuan was officially released. The free public welfare promotion activities with “we always believe in love and thepower of time" as the promotion theme were launched in all regions of the country. The performance of HARMONYWorld Watches exceeded the expectations. Meanwhile, HARMONY World Watches is continuously carrying forward theimprovement of operational efficiency and keeping continuous improvement in gross margin, expense ratio, inventoryturnover and other indicators; and the profit growth is significantly higher than revenue growth.

III. Implementing innovation-driven development, and continuing to enhance the Company's new growthmomentumDuring the reporting period, the Company continued to promote business innovation and development, and supported toconstantly strengthen the new driving forces of the Company's future development. While carrying forward recovery andgrowth of the offline channel in the Company’s brand cluster and Harmony World Watches business, the Company at thesame time also speeded up investment in the online platform, accelerated the exploration of the new retail formatsincluding “live webcasting”, “community marketing”, etc. , by using informatization means, continuously innovated newretail formats and service models. Invited by the Ministry of Commerce, "FIYTA" was elected as the only clock brand asa “Made-in-China” brand of the Ministry of Commerce to participate in the first live events at Alibaba "Dual-brand OnlineShopping Festival" the Chinese first live events and achieved an extraordinary success; the Company accelerated thedigital transformation and continuously built a customer-oriented digital operation system. The construction of the CRMsystem of brand cluster business and the digital retail system of HARMONY watch business has been successfully carriedforward.

During the reporting period, the Company enjoyed a favorable growth trend in its precision technology innovationbusiness, continued to consolidate the optical communication and laser device market, constantly strengthened theopportunity recognition of military, medical and other fields, FIYTA Technology Co. participated in LASER World ofPHOTONICS CHINA and exhibited its powerful technology strength in precision parts and components with highdimensional accuracy and high design standard, and continuously developed new customer areas; the brand “Jeep” hasaccurately targeted urban women, and launched smart women's watch with fashionable appearance design andfemale-exclusive and body temperature monitoring features.

2. Matters in Connection with the Financial Report

(1) Explanation on the Changes in the Accounting Policy, Accounting Estimate, and Accounting Method inComparison with the Financial Report of the Previous YearOn July 5, 2017, the Ministry of Finance revised and promulgated the Accounting Standards for Enterprises No. 14 -Revenues, which, in accordance with the requirements of the Ministry of Finance, began to take effect from January 1,2020 for domestic listed enterprises. According to the regulations, the Company would implement the aforesaid new rulesand make change of the corresponding accounting policies. However, this would produce no significant impact on theCompany's current and previous net profit, total assets and net assets. For details, please refer to the “Announcement onChange of the Accounting Policies 2020-015” disclosed by the Company on the Securities Times, Hong KongCommercial Daily and http://www.cninfo.com.cn/ on Friday, March 20, 2020.

(2) Explanation on Serious Accounting Errors Occurred during the Reporting Period Necessary to be RestatedRetrospectivelyInapplicable

(3) Explanation on the Changes in the Scope of the Consolidated Statements in Comparison with the FinancialReport of the Previous Accounting PeriodInapplicable

FIYTA Precision Technology Co., Ltd.Board of DirectorsJuly 30, 2020


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