FIYTA(SZ:200026)2021-08-19 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥2,777,519,521.34, representing a 75.59% increase compared to ¥1,581,834,715.03 in the same period last year[21]. - The net profit attributable to shareholders was ¥233,544,726.55, a significant increase of 200.42% from ¥77,738,906.30 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥223,796,233.42, up 225.90% from ¥68,669,477.45 year-on-year[21]. - The net cash flow from operating activities reached ¥205,154,563.93, an increase of 97.94% compared to ¥103,645,235.27 in the previous year[21]. - The basic earnings per share rose to ¥0.5421, reflecting a 205.41% increase from ¥0.1775 in the same period last year[21]. - The profit for the period amounted to CNY 302,114,200, representing a 229.65% increase year-on-year[30]. - The company achieved a net asset return rate of 8.09%, an increase of 5.18 percentage points compared to the previous year[30]. - The total comprehensive income for the first half of 2021 was CNY 227,054,488.05, compared to CNY 82,068,880.13 in the first half of 2020, indicating an increase of 176.5%[115]. Revenue Sources - The company's revenue for the first half of 2021 reached CNY 2,777,519,521.34, a 75.59% increase compared to the same period last year, primarily driven by the growth in the retail business of luxury watches[36]. - The watch business generated ¥2,637,347,983.49, accounting for 94.95% of total revenue, with a year-on-year growth of 80.21%[38]. - The precision technology business saw significant growth, with revenue from smart wearable products increasing by 228% compared to the previous year[34]. - The leasing business revenue grew by 32.06% to ¥74,149,889.89, contributing 2.67% to total revenue[38]. Market Expansion and Strategy - The company plans to focus on expanding its brand resources and channel resources to enhance its market position in the luxury watch sector[25]. - The company has established a wholly-owned subsidiary in Hainan to further penetrate the duty-free market, indicating strategic market expansion efforts[32]. - The company is actively pursuing digital transformation, with a 10% increase in sales from potential customers and returning customers compared to the previous year[33]. - The company anticipates growth opportunities in the luxury goods market due to the return of overseas consumption and increased resource allocation by brands in China[51]. - The company aims to leverage the policy opportunities of the Hainan Free Trade Port and the development of the duty-free market for long-term growth[49]. Financial Position - The total assets at the end of the reporting period were ¥4,125,415,233.24, a 2.66% increase from ¥4,018,712,700.18 at the end of the previous year[21]. - The net assets attributable to shareholders increased to ¥2,857,159,599.38, up 2.04% from ¥2,799,948,388.09 at the end of the previous year[21]. - The company's inventory increased to ¥2,014,209,378.86, representing 48.82% of total assets, up from 46.86% at the end of the previous year[42]. - The company's cash and cash equivalents decreased to CNY 234,840,156.69 from CNY 353,057,285.71 at the end of 2020, representing a decline of approximately 33.5%[104]. Management and Governance - The company appointed Zhang Xuhua as a non-independent director and chairman of the board on July 1, 2021[55]. - The company elected several new directors and a supervisor on February 24, 2021, including Zhang Zhibiao, Xiao Yi, Li Peiyin, and Pan Bo[55]. - The company experienced changes in its management team, including the resignation of several directors and the chairman due to work reasons[56]. Environmental Responsibility - Shanghai Biao Industry Co., Ltd. is classified as a key pollutant discharge unit by the environmental protection department[64]. - The company has reduced its annual wastewater discharge by approximately 300 tons through recycling efforts[64]. - The company has passed the clean production audit and received the pollution discharge permit from the Yangpu District Environmental Protection Bureau[65]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[67]. Shareholder and Stock Information - The total number of shares increased from 428,091,881 to 435,550,522 due to the completion of the 2018 A-share restricted stock incentive plan (Phase II) with 7,660,000 shares granted[83]. - The company repurchased a total of 8,994,086 shares, accounting for 2.06% of the total share capital, with a total expenditure of 58,207,259.08 HKD[87]. - The total number of shareholders at the end of the reporting period was 27,860, indicating a stable shareholder base[94]. Research and Development - Research and development expenses rose by 27.37% to ¥26,370,064.68, reflecting the company's commitment to innovation[39]. - Research and development expenses for the first half of 2021 were CNY 26,370,064.68, compared to CNY 20,704,270.76 in the same period of 2020, marking an increase of about 27.4%[113]. Financial Instruments and Accounting Policies - The company’s financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance[149]. - The company will recognize foreign currency transactions at the spot exchange rate on the transaction date, impacting the financial results due to exchange rate fluctuations[165]. - The group measures expected credit losses based on the weighted average of credit losses of financial instruments, considering past events, current conditions, and future economic forecasts[178].