FIYTA(SZ:200026)2022-08-19 16:00Financial Performance - The company's operating revenue for the first half of 2022 was ¥2,183,570,749.11, a decrease of 21.38% compared to ¥2,777,519,521.34 in the same period last year[21]. - Net profit attributable to shareholders was ¥140,692,784.29, down 39.76% from ¥233,544,726.55 year-on-year[21]. - The net profit after deducting non-recurring gains and losses was ¥129,931,756.90, a decline of 41.94% compared to ¥223,796,233.42 in the previous year[21]. - Basic earnings per share decreased by 38.18% to ¥0.3351 from ¥0.5421 in the previous year[21]. - The total profit for the same period was 178.33 million yuan, down 40.97% year-on-year[33]. - The company's total revenue for the reporting period was ¥2,183,570,749.11, a decrease of 21.38% compared to ¥2,777,519,521.34 in the same period last year[39]. - The operating profit decreased to CNY 178,949,187.56, a decline of 40.9% from CNY 302,701,876.74 in the previous year[108]. - The company reported a total comprehensive income of CNY 141,117,640.01, compared to CNY 227,054,488.05 in the first half of 2021, reflecting a decrease of 37.9%[109]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 35.70% to ¥278,386,263.60, compared to ¥205,154,563.93 in the same period last year[21]. - Cash generated from operating activities increased by 35.70% to ¥278,386,263.60, primarily due to a decrease in inventory purchases[39]. - The company's cash and cash equivalents increased by 255.32% to ¥183,619,193.41, compared to a net decrease of ¥118,217,129.02 in the previous year[39]. - The ending balance of cash and cash equivalents increased to CNY 393,873,930.55 from CNY 234,840,156.69, marking a significant rise[114]. - The company reported a significant increase in cash flow, indicating improved liquidity and operational efficiency[100]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4,162,089,367.18, an increase of 1.25% from ¥4,110,579,952.49 at the end of the previous year[21]. - The company's total liabilities reached CNY 1,170,326,256.03, compared to CNY 1,097,347,309.96 at the beginning of the year, marking an increase of about 6.6%[102]. - The total owner's equity decreased to CNY 2,991,763,111.15 from CNY 3,013,232,642.53, reflecting a decrease of about 0.7%[102]. - Current liabilities rose to CNY 1,112,134,141.66, up from CNY 1,025,399,239.93 at the start of the year, indicating a growth of approximately 8.4%[102]. Business Operations and Strategy - The company has expanded its precision technology and smart wearable business, which has begun to take shape[26]. - The company continues to focus on the watch industry, integrating R&D, design, manufacturing, sales, and service[25]. - The precision technology business saw a revenue increase of over 40% year-on-year, driven by collaborations in optical communication and laser technology[37]. - The company has implemented a digital transformation strategy, launching a mini-program cloud store project to drive traffic to offline stores[36]. - The company aims to adapt to changing consumer preferences by leveraging digital retail systems and enhancing customer service experiences[52]. Market and Competition - The domestic watch market is experiencing strong growth, particularly in the mid-to-high-end segment, with Swiss watch exports to mainland China increasing steadily since 2016[27]. - Increased competition in the watch industry is noted, with a focus on optimizing brand and store structures to enhance single-store efficiency[51]. - The company plans to expand its market presence in Asia, targeting a 20% increase in market share by the end of 2023[119]. Research and Development - Research and development expenses were ¥25,026,713.85, down 5.09% from ¥26,370,064.68 in the previous year[39]. - The company is focusing on enhancing its research and development capabilities to innovate new technologies and products[128]. - Research and development expenses increased by 15%, totaling 275 million, to support innovation initiatives[119]. Environmental and Social Responsibility - The company is classified as a key pollutant discharge unit, with specific emissions standards being monitored[62]. - Shanghai Biao Ye's wastewater treatment facility has been operational since 2016, with an additional two sets added in 2018, ensuring compliance with the "Electroplating Pollutant Discharge Standards" for nickel and chromium wastewater[63]. - The company has been actively disclosing its social responsibility reports for the past fifteen years, with the latest report published in March 2022[68]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 34,677[90]. - The largest shareholder, AVIC International Holdings Limited, holds 38.25% of the shares, totaling 162,977,327 shares[91]. - The company completed the release of 1,244,421 restricted stock units during the reporting period, resulting in a total of 1,446,266 shares becoming tradable[85]. Financial Reporting and Compliance - The financial report for the first half of 2022 has not been audited[99]. - The financial statements are prepared in accordance with the accounting standards and reflect the company's financial position, operating results, and cash flows accurately[140]. - The company has assessed its ability to continue as a going concern and found no significant doubts regarding its ongoing viability[135].