FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, Full Text
FIYTA HOLDINGS LTD.
2015 Annual Report
March, 2016
FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, Full Text
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.
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.
With the exception of the following directors, all the other directors personally attended the Board Meeting for
reviewing the Annual Report
Posts of the directors Cause of failure in
Names of the directors failed in
failed in attending the attending the meeting Names of the attorneys
attending the meeting personally
meeting personally personally
Diao Weicheng Chairman Business trip Xu Dongsheng
Liu Aiyi Director Business trip Cao Zhen
Zhong Sijun Director Business trip Wang Mingchuan
Zhang Hong Guang Independent director Business trip Wang Yan
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.
In the Report, the Company has presented in detail the potential risks existing in the macro economy and
operation. Investors are advised to read carefully the contents concerning risk factors possibly to be confronted
with in the Company’s future development prospects and the countermeasures in Chapter 4 Management
Discussion and Analysis.
The profit distribution preplan reviewed and approved by the said board meeting is summarized as follows: With
the Company’s total share capital 438,744,881 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 (with tax inclusive)
to the whole shareholders and no reserves would be converted into share capital.
FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, Full Text
Table of Contents
Chapter 1 Important Notice, Table of Contents and Definitions
Chapter 2 Company Profile and Financial Highlights
Chapter 3 Business Summary
Chapter 4 Discussion and Analysis of the Management
Chapter 5 Significant Events
Chapter 6 Changes in Shares and Particulars about the Shareholders
Chapter 7 About the Preferred Shares
Chapter 8 Directors, Supervisors, Officers and Employees
Chapter 9 Corporate Governance
Chapter 10 Financial Report
Chapter 11 List of Documents Available for Inspection
FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, Full Text
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.
FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, Full Text
Chapter 2 Company Profile and Financial Highlights
I. Company Profile
Short form of the stock: FIYTA A, FIYTA B Stock Codes: 000026 and 200026
Stock Exchange Listed with Shenzhen Stock Exchange
Company Name In Chinese 飞亚达（集团）股份有限公司
Abbreviation of Registered
飞亚达公司
Company Name in Chinese
Company name in foreign
FIYTA HOLDINGS LTD.
language (if any)
Short form of the Company
name in foreign language (if FIYTA
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
20th Floor, FIYTA Technology Building, 20th Floor, FIYTA Technology Building,
Liaison Address Gaoxin S. Road One, Nanshan District, Gaoxin S. Road One, Nanshan District,
Shenzhen Shenzhen
Tel. 0755－86013198 0755－86013669
Fax 0755－83348369 0755－83348369
E-mail investor@fiyta.com.cn investor@fiyta.com.cn
FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, Full Text
III. Information Disclosure and Place where the Regular Reports are Prepared
Newspapers Designated for Disclosing the Securities Times
Information: and Hong Kong Commercial Daily
Internet Web Site Designated by China Securities
Regulatory Commission for Publishing the www.cninfo.com.cn
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
Organization Code 19218978-3
Changes in principal business activities
No change
since listing (if any)
Changes in the controlling shareholder
No change
in the past (if any)
V. Other Relevant Information
CPAs engaged
Name of the CPAs Grant Thornton Certified Public Accountants (Special General Partnership)
Office address 5th Floor, Scitech Tower, 22 Jianguomen Wai Avenue, Chaoyang District, Beijing
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
Duration of persistent
Name of the Sponsor Office Address Representatives
supervision
Huachuang Building, 216
Huachuang Securities Co., January 15, 2016 to
Zhonghua N. Road, Guiyang, Li Xiumin and Huang Junyi
Ltd. December 31, 2017
Guizhou Province
The financial advisor performing persistent supervision duties engaged by the Company in the reporting period
Inapplicable
VI. 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
FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, Full Text
Year-on-year
2015 2014
increase/decrease
Turnover in CNY 3,162,196,212.90 3,278,142,785.87 -3.54% 3,103,496,962.22
Net profit attributable to the
Company’s shareholders, in 121,702,057.44 145,591,136.39 -16.41% 130,125,124.48
CNY
Net profit attributable to the
Company’s shareholders less 113,441,715.91 136,799,116.72 -17.07% 127,158,503.02
the non-recurring items, in CNY
Net cash flows arising from
396,236,992.41 289,189,630.97 37.02% 79,047,490.92
operating activities, in CNY
Basic earning per share
0.3099 0.3707 -16.40% 0.3310
(CNY/share)
Diluted earning per share
0.3099 0.3707 -16.40% 0.3310
(CNY/share)
Return on equity, weighted
7.24% 8.62% -1.38% 8.69%
average (%)
Increase/decrease at
the end of the year
End of 2015 End of 2014 End of 2013
over the end of the
previous year
Total assets, in CNY 4,246,670,045.02 3,657,781,647.20 16.10% 3,558,702,591.28
Net assets attributable to the
Company’s shareholders
(owner’s equity attributable to 2,299,215,650.21 1,633,401,930.64 40.76% 1,536,434,684.56
the Company’s shareholders, in
CNY)
VII. Difference in the Accounting Data based respectively on the Chinese Accounting Standards
(CAS) and International Accounting Standards (IAS)
1. Differences in the net profit disclosed in the financial report & the net assets respectively according to the IAS
and the CAS.
Inapplicable
2. 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
VIII. Financial Data Summary based on Quarters
In CNY
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, Full Text
Operating revenue 894,056,260.25 789,736,987.34 784,087,458.61 694,315,506.70
Net profit attributable to the
44,967,185.35 28,142,234.38 33,505,446.25 15,087,191.50
Company’s shareholders
Net profit attributable to the
Company’s shareholders less 44,409,083.60 27,549,001.67 31,372,100.25 10,142,734.20
the non-recurring profit and loss
Net cash flows arising from
109,358,176.80 62,895,601.76 86,981,239.77 137,001,974.10
operating activities
Does there exist significant difference in the foregoing financial data or their total sum from the relevant financial data as
disclosed in the quarterly reports and/or semi-annual report.
No
IX. Non-recurring gain/loss items and amount involved
in CNY
Amount in 2015
Items Amount in 2014 Amount in 2013 Note
Gain/loss from disposal of non-current
assets, including the part offset from the 34,435.32 -44,920.98 388,966.99
provision for impairment of assets.
Tax rebate, exemption or reduction
approved by overstepping the authority 0.00 0.00
or without official approval document
Government subsidy credited to the
current gain and loss (except the
government subsidies closely related
with the Company’s business and 10,889,579.23 10,344,542.00 3,610,593.36
enjoyable according to the unified
standard quota or fixed amount specified
by the central government).
Fund occupancy fee collected by
non-financial enterprises stated in the 0.00 0.00
gains and losses in the very period
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 non-monetary 0.00 0.00
FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, Full Text
assets
Gain/loss from entrusted investment or
0.00 0.00
asset management
Provision for impairment of various
assets arising from force majeure, such 0.00 0.00
as natural disaster
Gains/Losses from debts reorganization 0.00 0.00
Enterprise reorganization fees, such as
expenses for arrangement for 0.00 0.00
employees, integration fee, etc.
Gains/losses exceeding the fair value
arising from transactions with obviously 0.00 0.00
unfair prices
Net gain and loss of the subsidiary under
the common control and produced from
enterprise consolidation from the 0.00 0.00
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 assets, 0.00 0.00
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 undergoing 0.00 0.00
impairment test individually
Gain/loss from external entrustd loan 0.00 0.00
Gain and loss arising from change in the
fair value of the investment based real
0.00 0.00
estate measured afterwards by means of
fair value model
Influence upon the current gains and 0.00 0.00
FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, Full Text
losses from the once-and-for-all
adjustment over the current gains and
losses according to the taxation and
accounting laws and regulations
Income from custodian charge obtained
0.00 0.00
from entrusted operation
Operating income and expenses other
-17,790.06 0.00 -153,915.17
than the aforesaid items
Other gains/losses in compliance with
1,149,979.86 0.00
the definition of non-recurring gain/loss
Less: Amount affected by the income tax 2,645,882.96 2,657,581.21 873,382.95
Amount affected by minority equity (after
0.00 5,640.77
tax)
Total 8,260,341.53 8,792,019.67 2,966,621.46 --
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
FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, Full Text
Chapter 3 Business Summary
I. Principal Businesses in the Reporting Period
FIYTA has been concentrating itself in watch industry under the strategy of brand building, carrying forward integration
and upgrading of the key value chain, successfully constructed commercial retail network channels of seamless coverage
consisting of HARMONY, HENGLIANDA, the Sales Company (including BRAND GALLERY), e-commerce platform, etc.,,
provided the consumers with extremely thoughtful top quality services; improved R & D, design and manufacture platform
of watches, formed our own brand group with the high-end brands, FIYTA watches and fashion brands as the principal
and both the brands and products have been well upgraded.
II. Significant Changes in the Prime Assets
1. Significant Changes in the Prime Assets
Prime Assets Notes to Significant Changes
On November 11, 2015 China Securities Regulatory Commission issued the
Official Reply to FIYTA Holdings Ltd. on Approval for Non-public Issuing ( ZHENG
JIAN XU KE [2015] No. 2588 which authorized the Company to issue no more
than 46,911,649 new shares in non-public way. Ended December 22, 2015, the
Company completed the work of non-public
