FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, SUMMARY
Stock Code: 000026, 200026 Short Form of the Securities: FIYTA A, FIYTA B
Announcement No: 2016-015
FIYTA HOLDINGS LTD.
2015 ANNUAL REPORT, SUMMARY
1. Important Notice
This Annual Report Summary is taken from the full text of the Annual Report. Investors are advised to read carefully the
full text of the Annual Report published on the media designated by China Securities Regulatory Commission in order to
fully understand the Company’s operation results, financial position and future development plan.
With the exception of the following directors, all the other directors personally attended the
Board Meeting for reviewing the Annual Report
Names of the directors failed Posts of the directors Cause of failure in
Names of the
in attending the meeting failed in attending the attending the
attorneys
personally meeting personally meeting 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
Reminder of the qualified auditor’s opinions
Inapplicable
Preplan of Profit Distribution for Common Stock or Preplan for Capitalization of the Reserves in the
Reporting Period Reviewed by the Board Meeting
Preplan of profit distribution for common stock reviewed and approved by the said board meeting is
summarized as follows: With 438,744,881 shares as the base, the Company would distrbute cash
dividend to the whole shareholders at the rate for CNY1.00 (with tax inclusive) and 0 bonus share (with
tax inclusive) for every 10 shares; no reserve would be capitalized.
Preplan of Profit Distribution for Preferred Shares in the Reporting Period Approved by the Resolution of
the Board Meeting
Inapplicable
Company Profile
Short form of the stock: FIYTA A, FIYTA B Stock Code: 000026, 200026
Stock Exchange Listed with Shenzhen Stock Exchange
Liaison Person and the Way
Secretary of the Board Securities Affairs Representative
of Contact
Names Lu Wanjun Zhang Yong
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FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, SUMMARY
20th Floor, FIYTA Technology 20th Floor, FIYTA Technology
Office Address Building, Gaoxin S. Road One, Building, Gaoxin S. Road One,
Nanshan District, Shenzhen Nanshan District, Shenzhen
Fax 0755－83348369 0755－83348369
Tel 0755－86013198 0755－86013669
E-mail investor@fiyta.com.cn investor@fiyta.com.cn
II. Introduction to the Principal Businesses or Products 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.
III. 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
In CNY
Year-on-year
2015 2014 increase/decrea 2013
se
3,162,196,212.9 3,278,142,785.8 3,103,496,962.
Turnover in CNY -3.54%
0 7 22
Net profit attributable to
130,125,124.4
the Company’s 121,702,057.44 145,591,136.39 -16.41%
8
shareholders, in CNY
Net profit attributable to
the Company’s
127,158,503.0
shareholders less the 113,441,715.91 136,799,116.72 -17.07%
2
non-recurring items, in
CNY
Net cash flows arising
from operating activities, 396,236,992.41 289,189,630.97 37.02% 79,047,490.92
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,
7.24% 8.62% -1.38% 8.69%
weighted average (%)
Increase/decrea
se at the end of
End of 2015 End of 2014 the year over End of 2013
the end of the
previous year
4,246,670,045.0 3,657,781,647.2 3,558,702,591.
Total assets, in CNY 16.10%
2 0 28
Net assets attributable to
2,299,215,650.2 1,633,401,930.6 1,536,434,684.
the Company’s 40.76%
1 4 56
shareholders (owner’s
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FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, SUMMARY
equity attributable to the
Company’s shareholders,
in CNY)
2. Financial Data Summary based on Quarters
In CNY
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Operating revenue 894,056,260.25 789,736,987.34 784,087,458.61 694,315,506.70
Net profit attributable to
the Company’s 44,967,185.35 28,142,234.38 33,505,446.25 15,087,191.50
shareholders
Net profit attributable to
the Company’s
shareholders less the 44,409,083.60 27,549,001.67 31,372,100.25 10,142,734.20
non-recurring profit and
loss
Net cash flows arising
109,358,176.80 62,895,601.76 86,981,239.77 137,001,974.10
from 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
IV. Share Capital and Shareholders
1. Number of Common Shareholders and Preference Shareholders with the Voting Power
Recovered and Shareholding of the Top 10 Shareholders
In Shares
Total preference
Total common Total preference
shareholders
Total common shareholders at shareholders with
with the voting
shareholders the end of the the voting power not
power
in the 33,608 month before 34,695 0 recovered at the end 0
recovered at
reporting before the date of the month before
the end of the
period of disclosing the the day of disclosing
reporting
annual report the annual report
period
Shareholding of the Top 10 Shareholders
Pledging or freezing
Shareholding Number of
Names Nature Number of restricted shares held Status of the
proportion shares held Quantity
shares
AVIC
International State-owne 162,977,32
41.49% 0
Holdings d corporate 7
Limited
China Life Insu
rance Limited –
Domestic
Dividend –
non-state-o
Dividend to 1.06% 4,157,800 0
wned
Individuals
corporate
--005L-FH002
SHEN
ESSENCE
INTERNATION
AL Foreign
0.66% 2,610,000 0
SECURITIES corporate
(HONG KONG)
LIMITED
Domestic
Dai Wen natural 0.51% 2,009,321 0
person
Foreign
CMS (HK) 0.39% 1,522,341 0
corporate
Domestic
Zhou Weixian natural 0.36% 1,394,600 0
person
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FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, SUMMARY
Domestic
Li Yunming natural 0.33% 1,314,100 0
person
Yangzhou
State-owne
Municipal 0.30% 1,161,639 0
d corporate
Mining Bureau
Shanghai
Kewen
Investment
Domestic
Management
non-state-o
Co., Ltd. – 0.29% 1,138,000 0
wned
KEWEN T KE
corporate
No. 3
Investment
Fund
Domestic
Zeng Xialan natural 0.28% 1,099,080 0
person
Explanation on associated
The Company has found neither affiliation among the aforesaid shareholders nor concerted actor as
relationship or consistent
specified in the Measures for Administration of Information on the Shareholder Equity Change of Listed
action of the above Companies.
shareholders
Note to the shareholders
involved in securities margin Inapplicable
trading (if any)）
2. Total Preference Shareholders and the Shares Held by the Top 10 Preference Shareholders
Inapplicable
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FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, SUMMARY
Block Diagram of the Ownership and Control Relations between the Company and the Actual Controller
State-owned Assets Supervision and Administration
Commission of the State Council
100%
National Council Beijing Putuo Hanhua Aviation Industry AVIC CCB Aviation Industry Equity
for Social Security Investment Corporation of China Investment (Tianjin) Co., Ltd.
Fund Management Center
14.31% 14.31% 62.52% 8.86%
CATIC International Holdings Limited
100%
37.50% AVIC International Shenzhen Company Limited
33.93%
AVIC International Holdings Limited
37.15%
Fiyta Holdings Ltd.
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FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, SUMMARY
V. Discussion and Analysis of the Management
1. Business Operation Summary in the Reporting Period
In the reporting period, the development of China’s economy was slowing down and the consumption
market was not so flourishing. Such a situation has resulted in a big pressure upon the business of
watch industry. Being confonted with the extremely challenging market environment, the Company,
based on the idea of striving to be better and seeking improvement through innovation, took the brand
building strategy as the guidance, focused on the annual work theme of “values, innovation, adjustment
and profit”, further propelled construction of the business model of “products + channels”, and achieved
significant progress in brand building, quality service, product innovation, strategic human resources,
knowledge management, etc. Based on establishment of the innovation system of creating values for
customers, devoted great efforts to in carrying out the innovation practice work with whole employees
involved; keenly looked into the market changes, positively optimized and adjusted the channel structure,
devoted great efforts in research and development and timely launched new products; focused on
efficiency improvement, emphasized such management items as “per unit yield improvement”,
“invesntory turnover improvement” and “increasing revenue and reducing expenditure”; enthusiastically
made use of the Internet and energetically developed e-commerce and newly-developing business,
realized precision brand marketing and effective communication. In the reporting period, the whole
colleagues of FIYTA successfully overcomed all difficulties with their courage, passion, wisdom and
sweat and reduced unfavorable influences brought about by the rapid change of the environment, timely
adjusted the operation strategy and integrated cores and optmized the businesses, insisted on
sustainable development of the Company’s multiple brands and multi-channel business. As a result, the
Company realized sales revenue amounting to CNY 3,162,196,212.90 in the whole year, dropped by
3.54% over the previous year; realized net profit attributed to the shareholders amounting to CNY
121,702,057.44, dropped by 16.41% over the previous year; and net cash flow arising from the operating
activities amounting to CNY 396,236,992.41.
Under the circumstance of general declining of the domestic watch industry in the reporting period,
FIYTA carried out the work in such dimensions as “per unit yield improvement, channel expansion,
brand promotion, shopping guide team building” at deepened level, developed the market channels at
depth, integrated and optimized the business models, vigorously fostered dealers, reinforced the ability
of communication with customers. As a result, FIYTA watch channel quality and the customers’
satisfaction have been constantly improved; the celebrity endorsement validation and the reputation of
the brand have been continuously enhanced; the product R & D and design ability have been further
improved. In the reporting year, the Company once again honorably gained the title of “Industrial Design
Center at National Level” which keeps pace with the "Technology Center at National Level”, a title which
the Company has been enjoying, which has compacted the development platform supported with own
watch brands. The Company has kept developing e-commerce, BRAND GALLERY and repairing
services; and explored innovation in business models based on the customer experience upgrading and
the Internet based idealogy. With the unfavorable influence from the tremendous flactuation of the
domestic capital market and change of the consumption environment of the industrial market, growth of
the revenue from FIYTA watches significantly slowed down over the previous year. In the reporting year,
the Company realized operating revenue amounting to CNY 885,294,253.56, with a year-on-year growth
rate of 3.36%.
In the reporting period, being faced with the challenge from the persistent gliding of the market of
medium and high end watches, Shenzhen Harmony World Watches Center Co., Ltd. has been closely
centering on the annual work theme of “values, adjustment, foundation and profit” and taking efficiency
improvement as the objective, vigorously optimized the shops, brands and stock patterns; laid a solid
foundation in the management work, continuously carried out the special work of “per unit yield
improvement”, “stopping or reducing loss”, and “stock structure optimization” etc., improved the profit
making ability of the shops, greatly enforced stock consumption, timely closed deficit making shops;
vigorously developed repairing and technical service businesses, carried out various items of business
innovation work based on the Internet related ideas. However, as the consumption market of domestic
famous brand watches is depressed in general, HARMONY realized sales income from famous watches
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FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, SUMMARY
amounting to CNY 2,139,277,415.85, dropped by 6.92% on year-on-year basis.
In the reporting period, the income from the Company’s properties kept steady growth.
The Company has successfully finished the work of non-public issuing of A-shares, from which the
Company raised net proceeds amounting to CNY 582,924,373.62. The newly added 45,977,011 shares
were listed on January 15, 2016.
2. Did there exist any significant change in the principal business in the reporting period
No.
3. Products whose revenue or profit takes over 10% of the Company’s revenue or profit from the
principal businesses
Inapplicable
4. Did there exist seasonal or periodic charateristics necessary to pay special attention to
No.
5. Note to operating revenue, operation cost or total profit attributable to the Company’s
common shareholders in the reporting period or composition of significant change in the
previous reporting period
Inapplicable
6. Potential suspension and delisting
Inapplicable
VI. Matters concerning the Financial Report
1. Note to the change in the accounting policy, accounting estimate and accounting method in
comparison with the financial report of the previous year
Inapplicable
2. Note to the situation that it is necessary to make retrospective restatement to order to correct
the serious accounting errors in the reporting period
Inapplicable
3. Note to the change of the scope of the consolidated statements in comparison with the
previous year.
Inapplicable
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FIYTA HOLDINGS LTD. 2015 ANNUAL REPORT, SUMMARY
4. Explanation of the Board of Directors and the Supervisory Committee pm the Qualified
Auditor’s Report for the Reporting Period Issued by the CPAs
Inapplicable
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