Summary of 2025 Annual Report of FIYTA Precision Technology Co., Ltd.
Stock Codes: 000026, 200026 Stock Abbreviation: FIYTA, FIYTA B Announcement No.: 2026-007
Summary of 2025 Annual Report of
FIYTA Precision Technology Co., Ltd.
I. Important notes
This Annual Report Summary is excerpted from the full text of the Annual Report. For a comprehensive understanding
of the Company's operating results, financial position, and future development plans, investors should carefully read
the full Annual Report on the media designated by the CSRC.
All directors have attended the board meeting to review this report.
Notes on non-standard audit opinion
Not applicable
Profit distribution plan or plan for converting capital reserve into share capital for the reporting period as reviewed by
the Board of Directors
Whether to convert capital reserve into share capital
No
The profit distribution plan approved by the Board of Directors is as follows: based on the total share capital on the
record date for the future implementation of the profit distribution plan, a cash dividend of 1.20 yuan per 10 shares (tax
inclusive) will be distributed to all shareholders, with no bonus shares (tax inclusive) and no conversion of capital
reserve into share capital.
Profit distribution plan for preferred shares for this reporting period as approved by the Board of Directors
Not applicable
This report is prepared in both Chinese and English. In case of any discrepancy in the interpretation of this report, the
Chinese version shall prevail.
II. Company profile
Stock abbreviation FIYTA, FIYTA B Stock code 000026, 200026
Stock exchange
Shenzhen Stock Exchange
where the shares
Summary of 2025 Annual Report of FIYTA Precision Technology Co., Ltd.
are listed
Stock abbreviation
before change None
(If any)
Contact
Secretary to the Board of Directors Securities Affairs Representative
Information
Name Song Yaoming Xiong Yaojia
Office address
Fax 0755－83348369 0755－83348369
Tel 0755－86013669 0755－86013669
Email investor@fiyta.com.cn investor@fiyta.com.cn
(I) Industry landscape during the reporting period
Currently, the company faces an increasingly complex and severe external environment. While China's retail
market continues to expand, upgrade, and experience a marginal recovery in consumer confidence, there is notable
divergence in consumer product categories. The watch industry specifically is experiencing a downturn. According to
revenue of domestic timepiece enterprises above a designated size decreased by 9.70% year-on-year, and the value
of Swiss watch exports to Mainland China declined by 12.1% year-on-year. Conversely, the high-end manufacturing
industry benefits from demand driven by emerging sectors like embodied intelligence, and the low-altitude economy,
presenting a broader market prospect.In this context, the company will enhance the competitiveness and market share
of its watch business, thereby stabilizing its core watch segment. This will be achieved by strengthening customer
research and insights, deepening brand partnerships in the comprehensive watch service business, and fostering
product differentiation in its proprietary brand business. Simultaneously, the company will stay committed to the
transformation and upgrade of its precision technology sector, increasing investment in key talent and technology to
accelerate the development of its emerging industry business.
(II) Main business analysis
In 2025, the Company continued to deepen its presence in the watch business, consolidating its leading position
in the domestic watch market and enhancing its core competitiveness. It accelerated strategic transformation and
upgrading to strengthen its core functions. During the reporting period, amid a continuously challenging domestic
watch consumer market, the Company achieved an operating revenue of 3,508,487,911.40 yuan, a year-on-year
decrease of 10.96%. The total profit was 120,103,837.72 yuan, a year-on-year decrease of 58.02%. The Company
focused on refined management, quality improvement, and cost reduction, maintaining stable cash flow from operating
activities and keeping operational risks under control. Facing market challenges, the Company remains confident in its
development and values shareholder returns. It has now formulated the 2025 cash dividend plan, proposing to
distribute a cash dividend of 1.20 yuan (tax included) per 10 shares to all shareholders.
During the reporting period, the company’s key operational initiatives are as follows:
(I) Strengthening Brand Positioning and Enhancing Competitive Advantage through "Aviation Heritage +
Chinese Culture"
During the reporting period, adhering to its positioning as a "high-quality Chinese watch brand with aerospace-
themed timepieces as its hallmark," the "FIYTA" brand focused on its aviation heritage and delved deeper into its
brand essence. It launched aerospace-themed products such as the "Y-20" Fortune Edition, the "Small Spacecraft" 3D
Time Reading Edition, and the "J-10" Crossover Edition. Through innovations in craftsmanship and materials, the
Summary of 2025 Annual Report of FIYTA Precision Technology Co., Ltd.
brand integrated elements of Eastern aesthetics into product design, introducing new collections such as the "Little
Gold Watch" Butterfly Fortune Edition, the "Shishi Ruyi" Song Porcelain Edition, and the "Oriental Beauty" Su
Embroidery Edition. By deeply blending "Chinese design, Chinese storytelling, and Chinese craftsmanship," the brand
established differentiated product features. Collaborations with fashion brands at Shanghai and Paris Fashion Weeks,
as well as marketing campaigns around high-impact events such as the launches of "Shenzhou-20" and "Shenzhou-
build a brand communication matrix spanning fashion, technology, and culture, enhancing brand visibility and influence.
(II) Continuously Optimizing Channel Structure and Operating Systems to Promote Online-Offline Synergy
During the reporting period, the "FIYTA" brand further developed its offline proprietary channels. Through member
operations, new media engagement, and in-store livestreaming, its self-operated stores enhanced refined operational
capabilities. Online, leveraging the trend of women’s watches as fashion accessories, the brand strengthened its hit
product strategy, achieving growth against market trends during major promotional campaigns such as "618" and
"Double 11," with multiple products ranking high in sub-categories of major e-commerce platforms’ watch sections. By
building a distinctive livestreaming matrix and strengthening omni-channel marketing capabilities, the brand effectively
promoted synergy between online and offline channels, increasing its market share in the domestic watch segment.
"Harmony" continued to optimize its brand and channel structure, focusing on leading brands and core channels
while steadily advancing the integration of brand and channel resources and optimizing their layout. Through deep
cultivation of store operations and customer service, and the implementation of a refined "one store, one strategy"
operational approach, it gained high recognition from partner brands and strong customer satisfaction.
(III) Increasing Investment in Precision Technology Business to Accelerate Strategic Transformation and
Upgrading
During the reporting period, the company’s watch business increased R&D investment in the development of in-
house movements, key components, and the application of aerospace materials. Through the development of new
processes, equipment upgrades, and the recruitment of key talent, the company strengthened its technological
foundation, enhanced capabilities in product R&D, precision manufacturing, and customer service, and actively
expanded into new markets and client segments. The company plans to acquire a controlling stake in Shaanxi
Changkong Gear Co., Ltd. to enter the precision gear and precision reducer business sectors, thereby strengthening
the technological capabilities and industrial layout of its precision technology business and driving strategic
transformation and upgrading.
(IV) Advancing Digital Implementation and Strengthening the Application and Empowerment of Digital
Platforms
During the reporting period, the company focused on key areas such as digital retail and operational management,
promoting the integration and scenario-based application of platforms such as the digital retail system, CRM system,
and SAP system. It optimized management systems for manufacturing, finance, and operations, and launched tools
such as Excellent Digital Assistant to enhance operational efficiency.
(1) Key accounting data and financial indicators for the last three years
Whether the Company needs to retroactively adjust or restate its accounting data of previous years
No
Unit: yuan
Year-end-on-year-
End of 2025 End of 2024 End of 2023
end change
Summary of 2025 Annual Report of FIYTA Precision Technology Co., Ltd.
Total assets 3,733,401,610.34 4,007,690,717.02 -6.84% 4,204,260,897.08
Net assets
attributable to
shareholders of the
listed company
Operating revenue 3,508,487,911.40 3,940,530,934.07 -10.96% 4,569,690,002.99
Net profit attributable
to shareholders of 87,317,829.63 220,350,184.99 -60.37% 333,178,102.37
the listed company
Net profit attributable
to shareholders of
the listed company
after deducting non-
recurring gains and
losses
Net cash flow from
operating activities
Basic earnings per
share (yuan/share)
Diluted earnings per
share (yuan/share)
Weighted average
return on equity
(2) Key accounting data by quarter
Unit: yuan
First quarter Second quarter Third quarter Fourth quarter
Operating revenue 924,208,353.87 859,923,583.36 890,827,959.90 833,528,014.27
Net profit attributable
to shareholders of 45,306,381.34 37,139,118.69 42,572,778.28 -37,700,448.68
the listed company
Net profit attributable
to shareholders of
the listed company
after deducting non-
recurring gains and
losses
Net cash flow from
operating activities
Whether there are any material differences between the above financial indicators or their aggregates and the relevant
financial indicators in the Company's previously disclosed quarterly and semi-annual reports
No
Summary of 2025 Annual Report of FIYTA Precision Technology Co., Ltd.
(1) Number of common shareholders and preferred shareholders with restored voting rights, and
shareholdings of the top 10 shareholders
Unit: share
Total number of
Total number preferred
Total number of
of preferred shareholders
Total number of common
shareholders with restored
common shareholders at
with restored voting rights at
shareholders at the 34,494 the end of the 34,475 0 0
voting rights at the end of the
end of the month prior to
the end of the month prior to
reporting period the disclosure of
reporting the disclosure of
the annual report
period the annual
report
Shareholdings of the top 10 shareholders (excluding shares lent through securities refinancing)
Shareholdi Number of Pledge, mark, or freeze
Shareholde ng Number of shares held status
Shareholder name
r nature percentag shares held with restrictions Share
e on sale Quantity
status
State-
Shentian Technology
owned Not
Holdings (Shenzhen) Co., 40.17% 162,977,327 0 0
legal applicable
Ltd.
person
Domestic
Not
#Wu Jilin natural 4.15% 16,851,926 0 0
applicable
person
Qianhai Life Insurance Co.,
Not
Ltd. - Participating Others 3.99% 16,186,370 0 0
applicable
Insurance Product
Domestic
Not
#Zhu Rui natural 0.52% 2,096,600 0 0
applicable
person
China Merchants Bank
Co., Ltd. - Orient Red Not
Others 0.45% 1,838,100 0 0
Vision Value Hybrid applicable
Securities Investment Fund
Domestic
Not
#Wang Xing natural 0.45% 1,820,300 0 0
applicable
person
Overseas
Hong Kong Securities Not
legal 0.39% 1,563,501 0 0
Clearing Company Limited applicable
person
Bank of Communications -
Not
HuaAn Innovation Others 0.34% 1,374,700 0 0
applicable
Securities Investment Fund
Domestic
Not
Chen Fang natural 0.32% 1,290,500 0 0
applicable
person
Bank of China Limited -
Huashang Selected Return Not
Others 0.31% 1,264,300 0 0
Hybrid Securities applicable
Investment Fund
Explanation of related party relationships The Company is not aware of any related party relationships or concerted
Summary of 2025 Annual Report of FIYTA Precision Technology Co., Ltd.
or concerted action among the above action among the top 10 shareholders mentioned above.
shareholders
account, the Company's shareholder Wu Jilin also holds 12,721,422
shares through a client credit trading collateral securities account with
China CICC Wealth Management Securities Company Limited, holding a
total of 16,851,926 shares;
Explanation of shareholders' participation 2. In addition to holding 2,600 shares through a regular securities
in margin financing and securities lending account, the Company's shareholder Zhu Rui also holds 2,094,000
business (if any) shares through a client credit trading collateral securities account with
First Capital Securities Co., Ltd., holding a total of 2,096,600 shares;
account, the Company's shareholder Wang Xing also holds 490,000
shares through a client credit trading collateral securities account with
China Merchants Securities Co., Ltd., holding a total of 1,820,300 shares.
Share lending through securities refinancing by shareholders holding over 5% of shares, the top 10 shareholders, and
the top 10 non-restricted shareholders
Not applicable
Changes in the top 10 shareholders and the top 10 non-restricted shareholders compared to the previous period due
to lending/return of shares through securities refinancing
Not applicable
(2) Total number of the Company's preferred shareholders and shareholdings of the top 10 preferred
shareholders
Not applicable
(3) Block diagram illustrating the ownership and control relationship between the Company and its actual
controller
Not applicable
Summary of 2025 Annual Report of FIYTA Precision Technology Co., Ltd.
III. Significant Matters
(I) Proposed equity acquisition and related-party transaction
As reviewed and approved at the seventh meeting of the 11th Board of Directors, the Company signed an "Equity
Acquisition Intention Agreement" with Hanzhong Hanhang Electromechanical Co., Ltd. on June 4, 2025. The Company
intends to acquire all or part of the controlling stake in Shaanxi Changkong Gear Co., Ltd. in cash. This acquisition
constitutes a related-party transaction, and based on preliminary estimates, it is not expected to constitute a major
asset restructuring. For details, please refer to the "Announcement on Signing an Equity Acquisition Intention
Agreement and Related-Party Transaction 2025-018," "Progress Announcement on the Proposed Acquisition of Equity
in Shaanxi Changkong Gear Co., Ltd. and Related-Party Transaction 2025-022," and "Progress Announcement on the
Proposed Acquisition of Equity in Shaanxi Changkong Gear Co., Ltd. and Related-Party Transaction 2026-005,"
disclosed by the Company on Cninfo on June 5, 2025, July 12, 2025 and February 26, 2026 respectively.
As of the disclosure date of this report, all parties to the transaction are advancing the audit, valuation, and state-
owned asset valuation filing related to this acquisition. The final transaction plan has not yet been determined and is
still subject to the necessary decision-making and approval procedures by all parties. There remains uncertainty as to
whether this acquisition can be ultimately completed.
(II) Revision of the Articles of Association and other regulations
As reviewed and approved at the eighth meeting of the 11th Board of Directors and the first extraordinary general
meeting of 2025, the Company has revised certain clauses of the Articles of Association, the Rules of Procedure for
Shareholders' Meetings, and the Rules of Procedure for the Board of Directors. These revisions were made in
accordance with relevant regulations, including the Company Law, the Arrangements for the Transitional Period for the
Implementation of Supporting Systems and Rules for the New Company Law, the Guidelines for the Articles of
Association of Listed Companies, and the Rules Governing the Listing of Stocks on the Shenzhen Stock Exchange,
and were based on the Company's actual situation. For details, please refer to the relevant announcements disclosed
by the Company on Cninfo on August 23, 2025 and September 10, 2025 respectively.
FIYTA Precision Technology Co., Ltd.
The Board of Directors
March 14, 2026
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