深华发B:2019年年度报告摘要(英文版)

时间:2020-04-30 00:00:00

深圳中恒华发股份有限公司 2019 年年度报告摘要

Short Form of the Stock: SHEN HUAFA-A, SHEN HUAFA- B

Shenzhen Zhongheng Huafa Co., Ltd.

Summary of Annual Report 2019

I. Important Notice

The summary is abstract from full-text of annual report, for more details of operating results, financial condition and future development plan of the Company; investors should found in the full-text of annual report that published on media appointed by CSRC.

Objection statement of directors, supervisors and senior executives

Statement

Other directors attending the Meeting for annual report deliberation except for the followed

Prompt of non-standard audit opinion

□Applicable √ Not applicable

Profit distribution pre-plan of common stock or capitalizing of common reserves pre-plan deliberated by the Board in the reporting period

□Applicable √ Not applicable

The Company has no plan of cash dividends carried out, bonus issued and capitalizing of common reserves either. Profit distribution pre-plan of preferred stock deliberated and approved by the Board in the reporting period □Applicable □Not applicable

II. Basic information of the company

1. Company profile

Short form of the stock

Shen HuafaA, Shen HuafaB

Stock code

 

000020, 200020

 

 

 

 

 

 

 

 

 

Stock exchange for listing

Shenzhen Stock Exchange

 

 

 

 

 

Person/Way to contact

Secretary of the Board

Rep. of security affairs

 

 

 

 

 

Name

Niu Zhuo

 

 

 

 

 

 

 

 

 

Office add.

618, 6/F, East Tower, No.411 Building,

 

 

Huafa (N) Road, Futian District, Shenzhen

 

 

 

 

 

Fax.

0755-86360206

 

 

 

 

 

 

 

 

 

 

 

 

Tel.

0755-86360201

 

 

 

 

 

 

 

 

 

 

 

 

1深圳中恒华发股份有限公司 2019 年年度报告摘要

2. Main business or product introduction in the reporting period

After years of development, the company has gradually formed two main businesses in industry and property management. Among them, the industrial business mainly includes injection molding, polylon (light-weight packaging materials), and complete machine production and sales of liquid crystal display, property management business is mainly the lease of its own property.

3. Main accounting data and financial indexes

(I) Main accounting data and financial indexes for recently three years

Whether it has retroactive adjustment or re-statement on previous accounting data □Yes √ No

 

 

 

 

 

 

 

In RMB

 

 

 

 

 

 

 

 

 

 

 

 

 

2019

2018

Changes over last year

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

721,557,440.51

637,046,707.03

13.27%

858,040,132.74

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net

profit

attributable

to

 

 

 

 

 

shareholders of the listed company

5,460,049.15

3,295,022.72

65.71%

974,409.39

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net

profit

attributable

to

 

 

 

 

 

shareholders of the listed company

 

 

 

 

 

after deducting non-recurring gains

4,843,096.96

1,535,043.65

215.50%

2,079,588.86

 

 

 

 

 

 

and losses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net

cash

flow arising from

 

 

 

 

 

operating activities

 

74,463,707.01

-21,894,459.66

440.10%

11,723,254.36

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

 

 

 

 

 

(RMB/Share)

 

 

0.0193

0.0116

66.38%

0.0034

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share

 

 

 

 

 

 

(RMB/Share)

 

 

0.0193

0.0116

66.38%

0.0034

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average ROE

 

1.67%

1.02%

0.65%

0.30%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

End of 2019

End of 2018

Changes over end of

End of 2017

 

 

 

 

 

 

 

 

 

 

last year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

 

614,163,899.86

617,090,153.46

-0.47%

629,762,731.38

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net

assets

attributable

to

 

 

 

 

 

shareholder of listed company

 

329,428,049.89

323,968,000.74

1.69%

320,672,978.02

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2) Quarterly main financial index

 

 

 

 

In RMB

 

 

 

 

 

 

 

First quarter

Second quarter

Third quarter

Fourth quarter

 

Operating income

143,921,648.63

195,268,525.42

209,822,500.84

172,544,765.62

 

Net profit attributable to

258,233.98

2,322,177.15

796,282.59

2,083,355.43

 

shareholders of the listed company

 

 

 

 

 

 

 

 

 

 

 

 

2深圳中恒华发股份有限公司 2019 年年度报告摘要

Net profit attributable to

 

 

 

 

shareholders of the listed company

196,868.38

2,001,043.68

-207,411.34

2,757,615.61

after deducting non-recurring gains

 

 

 

 

and losses

 

 

 

 

Net cash flow arising from

19,403,902.99

20,584,093.18

8,608,010.36

25,867,700.48

operating activities

 

 

 

 

 

 

 

 

 

Whether there are significant differences between the above-mentioned financial index or its total number and the relevant financial index disclosed in the company’s quarterly report and semi-annual report

□Yes √ No

4. Shares and shareholders

(1)Particulars about common stock shareholders, preference shareholders with voting rights recovered and top ten shareholders

In Share

 

 

 

Total common

 

 

Total preference

 

Total preference

 

 

 

 

 

 

 

Total common

 

 

 

 

 

shareholders with

 

 

 

stock

 

 

shareholders

 

 

stock

 

 

 

 

 

voting rights

 

 

 

shareholders at

 

 

with voting

 

 

shareholders in

23,761

 

24,131

0

recovered at end of

0

end of last month

 

rights recovered

reporting

 

 

 

 

 

last month before

 

 

 

before annual

 

 

at end of

 

 

period-end

 

 

 

 

 

annual report

 

 

 

report disclosed

 

 

reporting period

 

 

 

 

 

 

 

 

disclosed

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Top ten shareholders

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full name of

 

Nature of

 

Proportion of

Amount of

 

 

 

 

Number of shares

 

 

 

 

 

 

 

Amount of restricted shares held

 

pledged/frozen

Shareholders

 

shareholder

shares held

shares held

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State of share

 

Amount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wuhan

 

Domestic

 

 

 

 

 

 

 

 

Pledged

 

116,100,000

 

non-state-ow

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Zhongheng

 

42.13%

119,289,894

 

 

 

0

 

 

 

 

 

 

 

Frozen

 

 

 

ned legal

 

 

 

 

 

119,289,894

Group

 

person

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SEG (HONG

 

Overseas

 

 

 

 

 

 

 

 

Pledged

 

0

KONG) CO.,

 

 

5.85%

16,569,560

 

 

 

0

 

 

 

 

legal person

 

 

 

 

Frozen

 

0

LTD.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GOOD HOPE

 

 

 

 

 

 

 

 

 

 

Pledged

 

0

CORNER

 

Overseas

 

 

 

 

 

 

 

 

 

 

 

 

4.40%

12,464,500

 

 

 

0

 

 

 

 

 

 

 

 

 

 

 

INVESTMENT

 

legal person

 

 

 

 

Frozen

 

0

S LTD.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Changjiang

 

 

 

 

 

 

 

 

 

 

Pledged

 

0

Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

Overseas

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Brokerage

 

 

1.89%

5,355,249

 

 

 

0

 

 

 

 

legal person

 

 

 

 

Frozen

 

0

(Hong Kong)

 

 

 

 

 

 

 

 

 

 

 

 

Co., Ltd.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Guoyuan

 

 

 

 

 

 

 

 

 

 

Pledged

 

0

Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

Overseas

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Brokerage

 

 

1.36%

3,870,117

 

 

 

0

 

 

 

 

legal person

 

 

 

 

Frozen

 

0

(Hong Kong)

 

 

 

 

 

 

 

 

 

 

 

 

Limited

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Overseas

 

 

 

 

 

 

 

 

Pledged

 

0

 

 

 

 

 

 

 

 

 

 

 

 

Li Zhongqiu

 

 

1.00%

2,830,000

 

 

 

0

 

 

 

 

legal person

 

 

 

 

Frozen

 

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3深圳中恒华发股份有限公司 2019 年年度报告摘要

 

 

 

Domestic

 

 

 

 

Pledged

 

0

Zhong Jiachao

 

nature

 

0.47%

1,329,602

0

 

 

 

 

Frozen

 

0

 

 

 

person

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LI SHERYN

 

 

Overseas

 

 

 

 

Pledged

 

0

 

 

 

 

 

 

 

 

 

 

 

0.36%

1,022,600

0

 

 

 

ZHAN MING

 

legal person

Frozen

 

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Domestic

 

 

 

 

Pledged

 

0

Li Senzhuang

 

nature

 

0.35%

989,350

0

 

 

 

 

Frozen

 

0

 

 

 

person

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Domestic

 

 

 

 

Pledged

 

0

Wang Jianxin

 

nature

 

0.34%

959,000

0

 

 

 

 

Frozen

 

0

 

 

 

person

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Explanation

 

on

associated

 

 

 

 

 

 

relationship

 

among

the

Among the top ten shareholders, Li Zhongqiu is the actual controller of Wuhan Zhongheng New

 

 

 

 

 

 

 

Science & Technology Industrial Group Co., Ltd. and is a party acting in concert.

 

aforesaid shareholders

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Explanation

 

on

involving

 

 

 

 

 

 

margin

business

(if

Among the top ten shareholders, Zhong Jiachao held 795,602 shares through ordinary accounts,

 

applicable)

 

 

 

 

 

534,000 shares through credit securities accounts, and total held 1,329,602 shares.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2)Total preferred stock shareholders of the Company and shares held by top ten shareholders with preferred stock held

□Applicable √ Not applicable

The Company had no shareholders with preferred stock held in the reporting.

(3)Property right and controlling relationships between the actual controllers of the Company and the Company is as follows:

Wuhan Zhongheng New Science & Technology Industrial Group

Co., Ltd.

42.21%

Shenzhen Zhongheng Huafa Co., Ltd.4

深圳中恒华发股份有限公司 2019 年年度报告摘要

5. Corporate bonds

Whether or not the Company public offering corporation bonds in stock exchange, which undue or without payment in full at maturity on the approval date for annual report disclosedNo

III. Discussion and analysis of business1. Introduction of operation in the reporting period

In 2019, affected by the Sino-US trade war, the downward pressure on China’s economy increased, and the economic growth slowed down. Facing the unfavorable market environment, the company has actively taken measures to adjust its management concept and operating strategies and expand its main business which were supplemented with assessment and incentive mechanism. At the same time, some assets were cleaned and disposed of to maximize the benefits of assets and achieve better returns. In 2019, the company achieved operating revenue of 721,557,400 Yuan, an increase of 13.27% on a year-on-year basis, total net profits of 7,750,800 Yuan, increased by 68.79% compared with the same period last year, net profit amounted to 5,460,000 yuan, a 65.71% up from a year earlier.●Video service business achieved annual operating income of 332,014,600 Yuan, an increase of 13.41% on a year-on-year basis, operation profit amounted as 2,786,900 Yuan with 17.73% down from a year earlier. During the reporting period, the Video Business Division adjusted the product structure and optimized the sales ratio of each brand of products. The sales ratio of AOC, VSCN and VSC series brands have increased, which opened online sales channels such as Jingdong while completing existing customer orders, and sold 820,000 LCD monitors in 2019, an increase of 16.5% over last year.●Injection molding business achieved annual operating income of 250,187,900 Yuan, an increase of 13.25% over the same period last year, operation profit amounted as 535,800 Yuan, an increase of 20.81% from a year earlier. With the unceasingly fierce competition in the market, the profit margin of injection molding was squeezed, but the new production line put into production by this business division at the end of 2018 gave full play to its automation advantages in 2019, which greatly improved production efficiency and reduced production costs. The injection molding division achieved annual sales volume of 10,800 tons, outperforming the annual sales target.●Polylon business achieved annual operating income of 64.33 million Yuan, a decrease of 3.39% over the same period last year, operating profit amounted as -1.08 million yuan, a decrease of 40.63% from a year earlier. The actual sales volume throughout the year was 3900 tons, basically reaching the sales target, but due to the fierce market competition, in order to improve market competitiveness, this business division made some sacrifices in profit. In order to better fulfill the sales target of 2020, the EPS business division maintained existing orders, increased the proportion of structural parts orders, developed new customer resources, and strive to accept more domestic and foreign large-scale household appliance customers’ orders.5

深圳中恒华发股份有限公司 2019 年年度报告摘要●The property rental business achieved annual operating income of 38.82 million yuan, an increase of 12.95% from a year earlier, operating profit amounted as 5.56 million yuan with major growth over that of lat year. In 2019, the company optimized the structural proportion of commercial tenants, and the occupancy rate was greatly improved, at the same time, the company strictly controlled costs and reduced unnecessary expenditures. Therefore, the company’s overall rental profits increased significantly compared with the previous year.

2. Whether the main business had major change in the reporting period

□Yes √ No

3.About the industries, products, or regions accounting for over 10% of the company’s operating income or operating profit

√Applicable □Not applicable

 

 

 

 

 

 

In RMB

 

 

 

 

 

 

 

 

Name

Operating

Operating cost

Gross profit ratio

Increase/decrease

Increase/decrease

Increase/decrease

 

of operating

of operating cost

of gross profit

 

 

revenue

 

 

 

 

revenue y-o-y

y-o-y

ratio y-o-y

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Monitor

332,014,645.59

310,508,719.13

6.48%

13.41%

13.05%

0.30%

 

 

 

 

 

 

 

 

 

Injection model

250,187,919.33

223,473,984.32

10.68%

13.25%

8.36%

4.03%

 

 

 

 

 

 

 

 

 

EPS products

64,330,319.24

62,186,951.52

3.33%

-5.90%

-3.39%

-2.52%

 

 

 

 

 

 

 

 

 

Property lease

38,819,374.89

2,478,432.62

93.62%

12.95%

78.22%

-2.33%

 

 

 

 

 

 

 

 

 

4. Whether the characteristics of management seasonal or cyclical need special attention

□Yes √ No

5.In the reporting period, note of major changes in operating income, operating cost, total net profit attributable to common stock shareholders of listed company or composing the previous reporting period

□Applicable √ Not applicable

6. Particular about suspended and delisting

□Applicable √ Not applicable

7. Related matters relating to financial reports(1)Particulars about the changes in aspect of accounting policy, estimates and calculation method compared with the financial report of last year

√Applicable □ Not applicableThe Ministry of Finance issued revised “Accounting Standards for Business Enterprises No. 22-Recognition and Measurement of Financial Instruments”, “Accounting Standards for Business Enterprises No. 23-Transfer of Financial Assets”, and “Accounting Standards for Business Enterprises No. 24- Hedge Accounting”, and6深圳中恒华发股份有限公司 2019 年年度报告摘要

“Accounting Standards for Business Enterprises No. 37-Presentation of Financial Instruments” in 2017 (the above four standards are hereinafter collectively referred to as “new financial instrument standards”). The Company has implemented the above revised standards from January 1, 2019, and adjusted the relevant content of accounting policies.

In April 2019, the Ministry of Finance issued the “Notice on the Revision and Issuance of the Format of General Enterprise Financial Statements for 2019” (CK [2019] No. 6) (hereinafter referred to as the “financial statement format”). An enterprise that implements accounting standards for business enterprises should prepare the 2019 interim financial statements and annual financial statements and financial statements for subsequent periods in accordance with the requirements of the accounting standards for business enterprises and the notice.

This accounting policy change was reviewed and approved by the 11th meeting of the Ninth Board of Directors.

The company will implement the relevant provisions of CK (2019) No. 6 issued by the Ministry of Finance, and adjust and change the presentation of the relevant financial statements. The items and amount of the balance sheet that were significantly affected on December 31, 2018 are as follows:

Item

Consolidated balance sheet

 

Before adjustment

After adjustment

Note receivable and Account

185,983,351.22

 

receivable

 

 

Note receivable

 

69,185,516.71

Account receivable

 

116,797,834.51

Notes payable and Account

88,617,663.09

 

payable

 

 

Notes payable

 

27,642,356.66

(2) Major accounting errors within reporting period that needs retrospective restatement

□Applicable √ Not applicable

No major accounting errors within reporting period that needs retrospective restatement for the Company in the period.

(3) Compare with last year’s financial report; explain changes in consolidation statement’s scope

□Applicable √ Not applicable

No changes in consolidation statement’s scope for the Company in the period.7

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