飞亚达B:2019年第三季度报告正文(英文版)

FIYTA HOLDINGS LTD.                                                   2019 Third Quarterly Report, Summary




Stock Code: 000026   200026   Short Form of Stock: FIYTA A, FIYTA B           Announcement No: 2019 -054




                              FIYTA HOLDINGS LTD.


                2019 Third Quarterly Report, Summary




                                                                                                           1
FIYTA HOLDINGS LTD.                                                       2019 Third Quarterly Report, Summary



                                         Section 1 Important Notice



The Board of Directors, the Supervisor y Committee, directors, s upervisors 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 an y
statement misleading.

All the directors attended the board meeting for reviewing the Quarterly Report.

Huang Yongfeng, the Company leader, Chen Zhuo, chief financial officer, and Tian Hui, the manager of the
accounting department (treasurer) hereby confirm the authenticity and completeness of the financial report
enclosed in this Quarterly Report.




                                                                                                               2
FIYTA HOLDINGS LTD.                                                                                      2019 Third Quarterly Report, Summary




                                                        Section 2 Company Profile



I. Summary of Accounting/Financial Data


Does the Company need to make retroactive adjustment or restatement of the accounting data of the previous years
No

                                                                                                                          Increase/decrease at the end of
                                               End of the reporting period               End of the previous year              the year over the end of the
                                                                                                                                      previous year

Total assets (in CNY)                                       3,704,836,450.65                          3,599,691,650.26                                  2.92%

Net profit attributable to the Company’s
                                                            2,628,844,794.49                          2,570,134,782.90                                  2.28%
shareholders, in CNY

                                                                                                                                    Decrease/Increase of the
                                                                              Year-on-year             From the year beginning
                                                                                                                                       end of the reporting
                                               Reporting period        increase/decrease in the            to the end of the
                                                                                                                                      period over the end of
                                                                             reporting period              reporting period
                                                                                                                                        the previous year

Revenue     in CNY                                   954, 666,662.24                          9.88%           2,739,702,682.47                          6.82%

Net profit attributable to the Company’s
                                                      55,235,304.47                           9.83%             178, 730,765.38                         9.88%
shareholders, in CNY

Net profit attributable to the Company’s
shareholders less the non-recurring                   55,447,049.05                          14.51%             169, 074,195.74                       14.10%
items, in CNY

Net cash flows arising from operating
                                                       --                           --                          304, 727,914.51                         4.87%
activities, in CNY

Basic earning per share (CNY/share)                           0.1251                          9.16%                      0.4039                         8.96%

Diluted earning per share (CNY/share)                         0.1251                          9.16%                      0.4039                         8.96%

Return on equity, weighted average                            2.05%                          -2.06%                       6.74%                         2.90%



Non-recurring gain/loss items and the amount involved
                                                                                                                                                       In CNY

                                                                                Amount from the year beginning
                                   Items                                                                                                Note
                                                                               to the end of the reporting period

Gain/loss from disposal of non-current assets, including the part offset
                                                                                                        -883,236.65
from the provision for impairment of assets.

The government subsidies        included in the profits and losses of the
current period ( (excluding government grants which are closely related                               13,366,923.67
to the Company’s business and conform with the national standard



                                                                                                                                                                3
FIYTA HOLDINGS LTD.                                                                           2019 Third Quarterly Report, Summary


amount or quantity)

Other non-operating income and expenses other than the aforesaid
                                                                                            -194,635.08
items

Less: Amount affected by the income tax                                                     2,632,482.30

Total                                                                                       9,656,569.64               --



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 illus trated 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


II. Statement of total shareholders and shares held by the top 10 shareholders by the
end of the reporting period

1. Statement of total ordinary shareholders and the preferred shareholders with voting power
recovered and the shareholding by the top 10 shareholders

                                                                                                                                In shares

                                                                          Total preference
                                                                          shareholders with the
Total common shareholders at
                                                                   32,680 voting power recovered at                                    0
the end of the reporting period
                                                                          the end of the reporting
                                                                          period (if any)

                                                Shareholding by top 10 shareholders

                                                                                 Number of the              Pledging or freezing
 Names of the          Nature of the      Shareholding       Shareholding
                                                                                   restricted          Status of the
 Shareholders           shareholder        proportion              quantity                                                 Quantity
                                                                                  shares held              shares

AVIC
International         State corporate             36.79%           162,977,327                     0
Holding Limited

                      Domestic
#Yang Zugui                                        4.07%            18,013,506                     0
                      natural person

Chongqing
International
                      Domestic
Trust Co., Ltd. -                                  1.06%             4,695,982                     0
                      natural person
YU XIN No. 2
Trust

Jilin Risheng         Domestic
                                                   0.70%             3,113,430                     0
Investment            non-state-owne

                                                                                                                                           4
FIYTA HOLDINGS LTD.                                                                  2019 Third Quarterly Report, Summary


Management         d legal person
Co., Ltd. -
RISHENG
FEIYUE
DIANFENG
Phase I
Private-Placem
ent Securities
Investment
Fund

National Social
                   State-owned
Security Fund                                  0.62%         2,754,493                  0
                   legal person
114 Portfolio

Shenzhen Heli
                   Domestic
Fengyuan
                   non-state-owne              0.61%         2,704,000                  0
Commerce &
                   d legal person
Trade Co., Ltd.

                   Domestic
# Zhao Ce                                      0.30%         1,333,300                  0
                   natural person

Vanguard
Investment
Australia Ltd. -
Vanguard           Domestic
Emerging           non-state-owne              0.27%         1,190,485                  0
Market Stock       d legal person
Index Fund
(Stock
Exchange)

                   Domestic
Ma Xinting                                     0.26%         1,150,000                  0
                   natural person

CHINA
MERCHANTS          Overseas legal
                                               0.20%          904,371                   0
SECURITIES         person
HK CO. LTD.

                                  Shares held by top 10 shareholders of unrestricted shares

                                                                                                     Share type
   Names of the Shareholders                Quantity of unrestricted shares held a
                                                                                              Share type      Quantity

AVIC International Holding                                                                  CNY ordinary
                                                                           162,977,327                       162,977,327
Limited                                                                                     shares

                                                                                            CNY ordinary
#Yang Zugui                                                                  18,013,506                           18,013,506
                                                                                            shares


                                                                                                                               5
FIYTA HOLDINGS LTD.                                                         2019 Third Quarterly Report, Summary


Chongqing International Trust                                                       CNY ordinary
                                                                        4,695,982                        4,695,982
Co., Ltd. - YUXIN No. 2 Trust                                                       shares

Jilin Risheng Investment
Management Co., Ltd. -
                                                                                    CNY ordinary
RISHENG FEIYUE DIANFENG                                                 3,113,430                        3,113,430
                                                                                    shares
Phase I Private-Placement
Securities Investment Fund

National Social Security Fund                                                       CNY ordinary
                                                                        2,754,493                        2,754,493
114 Portfolio                                                                       shares

Shenzhen Heli Fengyuan                                                              CNY ordinary
                                                                        2,704,000                        2,704,000
Commerce & Trade Co., Ltd.                                                          shares

                                                                                    CNY ordinary
# Zhao Ce                                                               1,333,300                        1,333,300
                                                                                    shares

Vanguard Investment Australia
Ltd. - Vanguard Emerging Market                                                     CNY ordinary
                                                                        1,190,485                        1,190,485
Stock Index Fund (Stock                                                             shares
Exchange)

                                                                                    CNY ordinary
Ma Xinting                                                              1,150,000                        1,150,000
                                                                                    shares

                                                                                    Foreign
CHINA MERCHANTS                                                                     invested shares
                                                                          904,371                          904,371
SECURITIES HK CO. LTD.                                                              listed in
                                                                                    Mainland China

Explanation on associated
relationship or consistent action   Inapplicable
of the above shareholders

Note to the top 10 shareholders
involved in margin financing &      Inapplicable
securities lending (if any)

Did the top ten common shareholders or top ten shareholders of unrestricted common shares conduct contractual
repurchase during the reporting period?

No


2. Total preferred shareholders and the shares held by the top 10 preferred shareholders

Inapplicable




                                                                                                                     6
FIYTA HOLDINGS LTD.                                                                          2019 Third Quarterly Report, Summary




                                        Section 3 Significant Events

Changes of the major financial data and financial indicators during the reporting
period and the causes

I. Changes of the major financial data and fina ncial indicators during the reporting period and the causes


(I) Balance sheet items
            Items                 Ending balance       Opening balance      Variation                   Cause of the movement
                                                                            proportion
       Monetary capital            271, 288,310.87      164, 828,059.97      64.59%      Mainly due to net flow-in from operating activities
                                                                                         Mainly due to increase of advance payment for
     Advance payments              25,118, 168.82        13,666,816.33       83.79%
                                                                                         purchase of accessories
                                                                                         Mainly due to increase of the deposit for shopping
      Other receivables            63,638,680.84         45,870,582.26       38.74%
                                                                                         mail, etc.
                                                                                         Mainly due to increase of the advance payment
      Advance receipts             32,519,488.14         16,459,445.00       97.57%
                                                                                         received
                                                                                         Mainly due to the increase of the equity incentive
       Other payables              122, 637,010.50       71,819,930.30       70.76%      money payable to employees, refurbishment deposit
                                                                                         and the down payment for lease.
 Other comprehensive income         -1,354,800.31        -5,442,139.78       75.11%      Mainly due to movement of the translation reserve
(II) Items of the profit statement in the reporting period
            Items                Amount incurred in Amount incurred in      Variation                   Cause of the movement
                                    the reporting     the previous period   proportion
                                       period
                                                                                         Mainly due to the decrease of government subsidies
        Other income                 321, 181.31         2,360,867.19        -86.40%
                                                                                         received in the reporting period.
                                                                                         Mainly due to the increase of the provision for bad
Loss from impairment of credit      -5,221,223.17        -2,676,174.68       -95.10%
                                                                                         debt during the reporting period.
                                                                                         Mainly due to the partial inventory assets being
Loss from impairment of assets      -298,243.29          2,407,321.13       -112.39%
                                                                                         written off after clearing in the previous period.
                                                                                         Mainly due to increase of the loss arising from
Income from disposal of assets      -671,226.52           -12,324. 44       -5346.30%
                                                                                         disposal of equipment in the reporting period.
                                                                                         Mainly due to movement of the translation difference
  Net of other comprehensive
                                    2,338,089.70         9,644,276.18        -75.76%     of the foreign currency statements in the reporting
       income after tax
                                                                                         period.
(III) Items of the profit statement from the year beginning to the end of the repo rting period

                                 Amount incurred in
                                                      Amount incurred in    Variation
            Items                   the reporting                                                       Cause of the movement
                                                      the previous period   proportion
                                       period


                                                                                                                                               7
 FIYTA HOLDINGS LTD.                                                                          2019 Third Quarterly Report, Summary



                                                                                          Mainly due to the increase of the government
          Other income               13,366,923.67        8,857,885.99        50.90%
                                                                                          subsidies received in the reporting period

                                                                                          Mainly due to the influence from the profit increase of
     Return on investment             1,531,310.06         93,013.38         1546.33%
                                                                                          Shanghai Watch Industry in the current year.

                                                                                          Mainly due to increase of provision of the accounts
 Loss from impairment of credit      -8,302,992.06        2,502,625.73       -431.77%
                                                                                          receivable from some customers in the current year.

                                                                                          Mainly due to increase of partial inventory assets
Loss from impairment of assets        2,216,497.57         641, 520.83        245. 51%
                                                                                          written off after clearing in the current year.

                                                                                          Mainly due to the increase of the loss arising from the
Income from disposal of assets        -883,236.65          -66,731. 60       -1223.57%
                                                                                          disposal of equipment in the current year.

                                                                                          Mainly due to the movement of the translation
  Net of other comprehensive
                                      4,087,510.57        8,251,321.19        -50.46%     difference of the foreign currency statements in the
        income after tax
                                                                                          current year.

 (IV) Items of the cash flow statement from the year beginning to the end of the reporting period
                Items              Amount incurred in Amount incurred in     Variation                    Cause of the movement
                                     the reporting     the previous period   proportion
                                         period

                                                                                          Mainly due to the increase of the government subsidy
Other operation activity related
                                     62,653,660.31       34,995,312.97        79.03%      and down payment for lease received in the current
cash receipts
                                                                                          year.
Cash             paid        for
purchase/construction of fixed                                                            Mainly due to increase of the project payment of
                                     120, 991,258.41     88,993,938.27        35.95%
assets, intangible assets and                                                             FIYTA Watch Building in the current year.
other long term assets
Net cash flow arising from                                                                Mainly due to the decrease of the bank loans over the
                                     -77,815, 694.22    -191,101,925.83       59.28%
financing activities                                                                      same period of the previous year in the current year.
Net increase of cash and cash                                                             Mainly due to the decrease of the bank loans over the
                                     106, 460,250.90     11,243, 794.77       846. 84%
equivalents                                                                               same period of the previous year in the current year.


II. Progress of significant events, their effects and analysis on the solutions


1. Appointment of deputy GMs of the Company
The 11th session of the Ninth Board of Directors held on September 29, 2019 reviewed and approved the Proposal on
Appointment of Deputy GMs of the Company decided to appoint Mr. Tang Haiyuan and Mr. Xu Chuangyue as deputy GMs
of the Company with the tenure from the date when the said Board meeting to the date when the Ninth Board of Directors
ends. For the detail, refer to the Announcement on the Resolution of the 11th Session of the Ninth Board of Directors No.
2019-047 disclosed on the Securities Times, Hong Kong Commercial Daily and www.cninfo.com.cn.


2. Change of the controlling shareholder’s equity
On October 2, 2019, the Company received a notice from AVIC International Holdings Limited, the Company’s controlling
shareholder, according to which AVIC International Holding Corpo ration, AVIC International Shenzhen Company Limited


                                                                                                                                                  8
FIYTA HOLDINGS LTD.                                                                 2019 Third Quarterly Report, Summary


and AVIC International Holdings Limited are going to be merged. After the merging, AVIC International Holding
Corporation shall directly hold 162,977,327 shares in the Company (taking 36.79% of the Compan y's total shares) and
become the controlling shareholder of the Company. For the detail, refer to the Indicative Announcement on the
Mo vement of the Equity of the Controlling Shareholder No. 2019 -049 and the Acquisition Report, Summary 2019-050
published on the Securities Times, Hong Kong Commercial Daily and www.cninfo.com.cn.


3. Replacement of the Accounting Firm
The 12th session of the Ninth Board of Directors held on October 16, 2019 reviewed and approved the Propos al on the
Replacement of the Accounting Firm is going to appoint Grant Thornton Certified Public Accountants (Special General
Partnership) as the Company’s auditor of the Financial Report 2019 and the internal control to replace Ruihua Certified
Public Accountants (Special General Partnership) for a term of one year. The said proposal on the replacement of the
accounting firm is subject to review and approval of the General Meeting. For the detail, refer to the Announcement on the
Resolution of the 12th Session of the Ninth Board of Directors No. 2019-052 and the Announcement on the Replacement
of the Accounting Firm No. 2019-055 disclosed on the Securities Times, Hong Kong Commercial Daily and
www.cninfo.com.cn.

                                                                                        Inquiry index of the provisional reports
         General on Significant Events                         Date of disclosure
                                                                                               disclosed in the website.

Appointment of deputy GMs of the Company          October 8, 2019                   www.cninfo.com.cn

Change of the controlling shareholder’s equity   October 8, 2019                   www.cninfo.com.cn

Replacement of the Accounting Firm                October 18, 2019                  www.cninfo.com.cn



Progress of implementation of the stock repurchase
The 7th session of the Ninth Board of Directors held on April 4, 2019 and 2019 2nd Extraordinary General Meeting held on
April 23, 2019, reviewed and approved the “Proposal for the Repurchase of Partial Domestically Listed Foreign Shares in
the Company (B-shares), and subsequently the Company disclosed the repurchase report and published a series of
announcements on the progress in accordance with relevant regulations. For detail of the above, please refer to the
relevant announcements disclosed by the Company in the Securities Times, Hong Kong Commercial Daily and
www.cninfo.com.cn.


As at the end of the reporting period, the Company repurchased 7,420,000 shares in the Company by wa y of centralized
bidding, accounting for 1.68% of the Company's total capital stock; the highest transaction price of the repurchased
shares was HK$6.29 per share, and the lowest transaction price was HK$5.71/share, the total amount paid has been
HK$44,698,010.62 (excluding transaction fees such as stamp duty, commission, etc.) The Company’s repurchase of the
shares was in compliance with the relevant laws and regulations and in line with the Company's established repurchase
program.

Progress of implementation of reduction of the holding size of the shares repurchased by centralized bidding
Inapplicable


III. Commitments unfinished in implementation by the Company's actual controller, shareholde rs, related parties,
acquirer and the Company, etc. in the reporting period


Inapplicable



                                                                                                                                   9
FIYTA HOLDINGS LTD.                                                                  2019 Third Quarterly Report, Summary


IV. Portfolio investment


Inapplicable


V. Entrusted financial management


Inapplicable


VI. Investment in derivatives


Inapplicable


VII. Registration Form of Activities of Reception for Investigation and Sur vey, Communications, Interviews, etc.
in the Reporting Period


                                                                                              Index of Basic Information on the
      Time of Reception           Way of Reception      Types of Visitors Received
                                                                                                 Investigation and Survey

                                                                                       https://view.officeapps.live.com/op/view.aspx
                                                                                       ?src=http% 3A% 2F% 2Fstatic.cninfo.com.cn%
Friday, June 21, 2019      Field survey              Institution
                                                                                       2Ffinalpage% 2F2019-06-21% 2F1206378240
                                                                                       .doc


VIII. Outward guarantee against regulations


Inapplicable


IX. Non-operational Occupancy of the Company’s Capital b y the Controlling Shareholder and its Related Parties


Inapplicable




                                                                        The Board of Directors of FIYTA HOLDINGS LTD.

                                                                                              October 18,2019




                                                                                                                                       10

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