[年报]闽灿坤Ｂ:2020年年度报告（英文版）
原标题:闽灿坤Ｂ:2020年年度报告（英文版） 2020AnnualReportofTsannKuen(China)EnterpriseCo.,Ltd. 1TSANNKUEN(CHINA)ENTERPRISECO.,LTD. 2020ANNUALREPORTMarch2021 2020AnnualReportofTsannKuen(China)EnterpriseCo.,Ltd. 2SectionI.ImportantStatements,Contents&TermsTheBoardofDirectors,theSupervisoryCommitteeaswellasalldirectors,supervisorsandseniormanagementstaffofTsannKuen(China)EnterpriseCo.,Ltd.(hereinafterreferredtoas“theCompany”)warrantthatthisReportisfactual,accurateandcompletewithoutanyfalseinformation, misleadingstatementsormaterialomissions.Andtheyshallbejointlyandseverallyliableforthat. AlldirectorsattendedtheboardmeetingforreviewingthisReport. TheCompany’sprofitdistributionpreplanuponreviewandapprovalofthisboardmeeting:Basedonthetotal185,391,680shares,acashdividendofRMB1.5(taxincluded)willbedistributedforevery10sharesheldbyshareholders.Nobonusshareswillbegrantedandnocapitalreservewillbeturnedintosharecapital. PanZhirong,companyprincipal,andWuJianhua,headoftheaccountingwork&theaccountingdivision(headofaccounting)jointlydeclarethatthefinancialstatementscarriedinthisReportarefactual,accurateandcomplete. Anyforward-lookingstatementsuchasthoseinvolvingthefutureoperationalplansinthisReportshallnotbeconsideredasvirtualpromisesoftheCompanytoinvstors.Andinvestorsarekindlyremindedtopayattentiontopossiblerisks. ThisReportispreparedinbothChineseandEnglish.Shouldtherebeanydiscrepancybetweenthetwoversions,theChineseversionshallprevail. 2020AnnualReportofTsannKuen(China)EnterpriseCo.,Ltd. 3ContentsSectionI.ImportantStatements,Contents&Terms................................................2SectionII.CompanyProfile&FinancialHighlights................................................5SectionIII.BusinessHighlights.................................................................................10SectionIV.PerformanceDiscussion&Analysis......................................................12SectionV.SignificantEvents......................................................................................30SectionVI.ChangeinShares&Shareholders........................................................43SectionVII.PreferenceShares..................................................................................47SectionVIII.Directors,Supervisors,SeniorManagementStaff&Employees...48SectionIX.CorporateGovernance...........................................................................59SectionX.CorporateBonds.......................................................................................65SectionXI.FinancialReport.....................................................................................65SectionXII.DocumentsAvailableforReference....................................................66 2020AnnualReportofTsannKuen (China) Enterprise Co.,Ltd. Terms Term Refers to Content Xiamen Tsann Kuen, MCKB, Company, the Company,TKC Refers to Tsann Kuen (China) Enterprise Co., Ltd. Tsann Kuen Zhangzhou, TKL Refers to Tsann Kuen (Zhangzhou) Enterprise Co., Ltd. Tsann Kuen Shanghai, TKS Refers to Tsann Kuen China (Shanghai) Enterprise Co., Ltd. South Port Electronics, TKN Refers to Tsann Kuen (Zhangzhou) South Port Electronics Enterprise Co., Ltd. STD Refers to Shanghai Canxing Trading Co., Ltd. East Sino Development Refers to East Sino Development Limited SCI Refers to Pt.Star Comgistic Indonesia Orient Star Investments Refers to Orient Star Investments Limited TKEI Refers to Tsannkuen Edge Intelligence Co., Ltd. SCPDI Refers to Pt.Star Comgistic Property Development Indonesia TKW Refers to Xiamen Tsannkuen Property Services Co., Ltd. Yuan Refers to RMBYuan MajorRiskWarning SecuritiesTimes,Ta Kung Pao (HK) and www.cninfo.com.cn are designated by the Company as the media for information disclosure. All information of the Company shall be subject to what is disclosed by the Company on the said media. And Investors are kindly reminded to pay attention to possibleinvestmentrisks. 4 2020AnnualReportofTsannKuen (China) Enterprise Co.,Ltd. Section II. Company Profile & Financial Highlights I. Basic information of the Company Stock name TKC-B Stock code 200512 Stock exchange Shenzhen Stock Exchange Company name in Chinese厦门灿坤实业股份有限公司 Abbr.闽灿坤 Company name in English TSANNKUEN(CHINA) ENTERPRISE CO. ,LTD. Abbr. TKC Legal representative Pan Zhirong Registered address No.88 Xinglong Road, Huli Industrial Park, Xiamen, Fujian Province, P.R. China Zip code 361006 Office address TSANN KUEN Industrial Park, Taiwanese Investment Zone, Zhangzhou, Fujian Province Zip code 363107 Internet website www.eupa.tw address [email protected] II. Contact us Board Secretary Securities Representative Name Sun Meimei DongYuanyuan Contact address TSANN KUEN Industrial Park, Taiwanese Investment Zone, Zhangzhou, Fujian Province TSANN KUEN Industrial Park, Taiwanese Investment Zone, Zhangzhou, Fujian Province Tel. 0596-6268161 0596-6268103 Fax 0596-6268104 0596-6268104 address [email protected] [email protected] 5 2020AnnualReportofTsannKuen(China)EnterpriseCo.,Ltd. 6III.AboutinformationdisclosureandwherethisReportisplacedNewspapersdesignatedbytheCompanyforinformationdisclosureSecuritiesTimes(domestic),TaKungPao(HK)(overseas) InternetwebsitedesignatedbyCSRCfordisclosingthisReportNewspapersdesignatedbytheCompanyforinformationdisclosureSecuritiesTimes(domestic),TaKungPao(HK)(overseas) InternetwebsitedesignatedbyCSRCfordisclosingthisReportwww.cninfo.com.cnWherethisReportisplacedTSANNKUENIndustrialPark, TaiwaneseInvestmentZone,Zhangzhou, FujianProvinceIV.ChangesintheregisteredinformationV.OtherinformationTheCPAsfirmhiredbytheCompany: SponsorengagedbytheCompanytoconductsustainedsupervisionduringthereportingperiod □Applicable√InapplicableFinancialconsultantengagedbytheCompanytoconductsustainedsupervisionduringthereportingperiod □Applicable√InapplicableVI.AccountingandfinancialhighlightsDoestheCompanyadjustretrospectivelyorrestateaccountingdataofpreviousyears? □Yes√No Credibilitycode91350200612002170LChangesofthemainbusinesssincelistingNochangesChangesofthecontrollingshareholderNochangesNameRSChinaOfficeaddress901-22to901-26,Tower1-WaiJingMaoBuilding,22FuchengmenWaiStreet,XichengDistrict,Beijing,ChinaSigningaccountantsChenLianwu,RenXiaochao 2020AnnualReportofTsannKuen (China) Enterprise Co.,Ltd. Unit: RMBYuan Item 2020 2019 Increase/decrease of current year over last year (%) 2018 Operating revenue 2,144,181,738.33 2,001,939,841.94 7.11 1,790,062,803.08 Net profit attributable to shareholders of the Company 139,522,190.75 105,233,212.02 32.58 11,831,622.78 Net profit attributable to shareholders of the Company before extraordinary gains and losses 94,686,086.28 57,267,985.97 65.34 -968,285.11 Net cash flows from operating activities 315,271,083.24 143,620,287.98 119.52 106,076,060.82 Basic EPS (RMBYuan/share) 0.75 0.57 31.58 0.06 Diluted EPS (RMB Yuan/share) 0.75 0.57 31.58 0.06 Weighted average ROE (%) 17.34 15.07 2.27 1.82 Item As at 31 Dec. 2020 As at 31 Dec. 2019 Increase/decrease of current year-end than last year-end (%) As at 31 Dec. 2018 Total assets 2,408,046,446.78 1,956,448,835.98 23.08 1,842,514,750.64 Net assets attributable to shareholders of the Company 864,030,127.11 748,738,791.34 15.40 648,801,684.35 Total sharesof the Company as at closureof the last trading daybeforethe disclosure of this Report: TotalsharesoftheCompanyasatclosureofthelasttradingdaybeforethedisclosureofthisReport(share)185,391,680 Fully diluted EPS basedon the latest total shares: FullydilutedEPSbasedonthelatesttotalshares(RMBYuan/share)0.75 VII. Differences between accounting data under domestic andoverseas accounting standards 1. Differencesof net profit and net assetsdisclosed in financial reports prepared under international and Chinese accounting standards □Applicable √ Inapplicable No differencein the Reporting Period. 7 2020AnnualReportofTsannKuen(China)EnterpriseCo.,Ltd. 82.DifferencesofnetprofitandnetassetsdisclosedinfinancialreportspreparedunderoverseasandChineseaccountingstandards □Applicable√InapplicableNodifferenceintheReportingPeriod. 3.Explainreasonsforthedifferencesbetweenaccountingdataunderdomesticandoverseasaccountingstandards □Applicable√InapplicableVIII.FinancialhighlightsbyquarterUnit:RMBYuanItemQ1Q2Q3Q4Operatingrevenue311,268,019.82481,746,564.54693,486,076.76657,681,077.21NetprofitattributabletoshareholdersotheCompany8,577,244.4330,643,458.7354,549,173.4645,752,314.13NetprofitattributabletoshareholdersoftheCompanybeforeextraordinaryainsandlosses7,008,708.4525,498,031.1938,474,618.7923,704,727.85Netcashflowsfromoperatingactivities-56,790,702.1428,778,826.00175,863,935.96167,419,023.42Anymaterialdifferencebetweenthefinancialindicatorsaboveortheirsummationsadthosewhichhavebeendisclosedinquarterlyorsemi-annualreports? □Yes√NoIX.Extraordinarygainsandlosses√Applicable□InapplicableUnit:RMBYuan Item202020192018NoteGain/lossonthedisposalofnon-currentassets(includingtheoffsetpartoftheassetimpairmentprovisions) 195,318.0363,688,086.21975,770.89Taxrebates,reductionsorexemptionsduetoapprovalbeyondauthorityorthelackofofficialapprovaldocumentsGovernmentgrantsrecognizedinthecurrentperod,exceptforthoseacquiredintheordinarycourseofbusinessorgrantedatcertainquotasoramountsaccordingtothegovernment’sunifiedstandards6241,497.9526,259,614.814,903,720.34ItemQ1Q2Q3Q4Operatingrevenue311,268,019.82481,746,564.54693,486,076.76657,681,077.21NetprofiattributabletoshareholdersoftheCompany8,577,244.4330,643,458.7354,549,173.4645,752,314.13NetprofitattributabletoshareholdersofteCompanybeforeextraordinarygainsandlosses7,008,708.4525,498,031.1938,474,618.7923,704,727.85Netcashflowsfromoperatingactivities56,790,702.1428,778,826.00175,863,935.96167,419,023.42Anymaterialdifferencebetweenthefinancialindicatorsaboveortheirsummationsadthosewhichhavebeendisclosedinquarterlyorsemi-annualreports? □Yes√NoIX.Extraordinarygainsandlosses√Applicable□InapplicableUnit:RMBYuan Item202020192018NoteGain/lossonthedisposalofnon-currentassets(includingtheoffsetpartoftheassetimpairmentprovisions) 195,318.0363,688,086.21975,770.89Taxrebates,reductionsorexemptionsduetoapprovalbeyondauthorityorthelackofofficialapprovaldocumentsGovernmentgrantsrecognizedinthecurrentperod,exceptforthoseacquiredintheordinarycourseofbusinessorgrantedatcertainquotasoramountsaccordingtothegovernment’sunifiedstandards6241,497.9526,259,614.814,903,720.34 2020AnnualReportofTsannKuen (China) Enterprise Co.,Ltd. Item 2020 2019 2018 Note Capital occupation charges on non-financial enterprises that are recorded into current gains and losses Gains due to that the investment costs for the Company to obtain subsidiaries, associates and joint ventures are lower than the enjoyable fair value of the identifiable net assets of the investees when making the investments Gain/loss on non-monetary asset swap Gain/loss on entrusting others with investments or asset management Asset impairment provisions due to acts of God such as natural disasters Gain/loss on debt restructuring Expenses on business reorganization, such as expenses on staff arrangements, integration, etc. Gain/loss on the part over the fair value due to transactions with distinctly unfair prices Current net gains and losses of subsidiaries acquired in business combination under the same control from period-begin to combination date Gain/loss on contingent events irrelevant to the Company’s normal business Gains and losses on change in fair value from tradable financial assets and tradable financial liabilities, as well as investment income from disposal of tradable financial assets and tradable financial liabilities and financial assets available for sales except for effective hedging related with normal businesses of the Company 61,211,756.54 19,610,630.54 10,464,696.66 Mainly gains on forward forex contracts sold, gains on changes in fair value and income from investments in wealth management products and other current assets Impairment provision reversal of accounts receivable on which the impairment test is carried out separately Gain/loss on entrustment loans Gain/loss on change of the fair value of investing real estate of which the subsequent measurement is carried out adopting the fair 9 2020AnnualReportofTsannKuen (China) Enterprise Co.,Ltd. Item 2020 2019 2018 Note value method Effect on current gains/losses when a one-off adjustment is made to current gains/losses according to requirements of taxation, accounting and other relevant laws and regulations Custody fee income when entrusted with operation Non-operating income and expense other than the above 4,668,961.96 5,303,835.25 3,563,106.86 Other gain and loss items that meet the definition of an extraordinary gain/loss Less: Income tax effects 11,395,313.47 26,185,728.82 3,099,747.35 Minority interests effects (after tax) 16,086,116.54 40,711,211.94 4,007,639.51 Total 44,836,104.47 47,965,226.05 12,799,907.89 Section III. Business Highlights I. Main business during the reporting period Developing, manufacturing household appliances, electronics, light industrial products, modern office supplies. Design and manufacture of molds associated with these products in domestic and international sales of the company's products and after-sales service. Wholesale and retail household appliances, electronic products, electrical equipment, office supplies, kitchen utensils, pre-packaged food (limited to branches), import and export related business and provide after-sales service (the above description do not involve state trading commodity goods, involving quota license management products are according to the relevant provisions of the State for the regulations application). No material changes occurred to the business model of the Company in the reporting period. 10 2020AnnualReportofTsannKuen (China) Enterprise Co.,Ltd. II. Material changes in main assets 1. Material changes in main assets Main assets Material change Monetary funds No material change Held-for-trading financial assets Up 19808.42% from the end of last year, mainly because of the reclassification of investments in wealth management products and the assessed gains on forward forex contracts in the current period Notes receivable Down 100.00% from the end of last year, mainly because of the settlement of notes receivable that were due Accounts receivable Up 50.70% from the end of last year, mainly because of an increase in the balance of accounts receivable along with the rising operating revenues Advances to suppliers No material change Other receivables No material change Other current assets Down 96.28% from the end of last year, mainly because of the reclassification of investments in wealth management products in the current period Investment properties No material change Fixed assets No material change Construction in progress Down 75.07% from the end of last year, mainly because of the check and acceptance of the rebuilt component plant of subsidiary SCI in the current period Intangible assets No material change Long-term deferred charge No material change Deferred tax assets No material change Other non-current assets Up 103.25% from the end of last year, mainly because of an increase in prepayments for equipment in the current period 2. Main assets overseas √Applicable □ Inapplicable 11 2020AnnualReportofTsannKuen(China)EnterpriseCo.,Ltd. 12Unit:RMBYuanAssetNatureValueLocationOperationstatusMeasurestakentoprotectassetsafetyEarningsIntheCompany’snetassets(%) AnymajorimpairmentriskornotSCIInvestment207,298,478.66IndonesiaNormalPeriodicreview1,578,916.6123.99NoTKEIEquityacquisition21,46,326.00TaiwanNormalPeriodicreview2,296,409.712.48NoIII.CorecompetitivenessanalysisNomaterialchangeoccurredtothecorecompetitivenessoftheCompanyduringthereportingperiod. Followingthecorporatecultureofresearchanddevelopment,theCompanyhasadiversifiedR&Dservicesystemandprovidesawell-establishedcustomerserviceandmanagementplatform,whicharewell-receivedamongmajorbrandcustomersacrosstheglobe.ThroughconstantcloseinteractionwithcustomersandinnovationinR&D,itcaterstocustomerneedsfromthedevelopmenttothemanufacturingofdifferentiatedproducts. TheCompanyhasbeenadheringtothetwodevelopmentpathsofinnovativeR&Dandtechnologicalapplication, aswellastothedualcirculationstrategyoffocusingonexportandboostingdomesticsales. Focusingonsmartcontrol,smarthouseholdappliances,theapplicationofIoT,etc.inproductdevelopment,theCompanysuppliessmart,qualityproductswithhighaddedvaluetocreatenewmarketdemandandcompeteintheindustry. Inthereportingperiod,theCompanyobtained73patentsinR&D,including36inventionpatents,25utilitymodelpatentsand12designpatents.Therearealsodozensofpatentsbeingappliedfor.ThesepatentscanhelpbetterprotecttheCompany’sintellectualpropertyrights,giveplaytoitscompetitiveedgeinindependentpropertyrights, keepaleadingpositionintechnologyandincreaseitscorecompetitiveness. AssetNatureValueLocationOperationstatusMeasurestakentoprotectassetsafetyEarningsIntheCompany’snetassets(%) AnymajorimpairmentriskornotSCIInvestment207,298,478.66IndonesiaNormalPeriodicreview1,578,916.6123.99NoTKEIEquityacquisition21,46,326.00TaiwanNormalPeriodicreview2,296,409.712.48NoIII.CorecompetitivenessanalysisNomaterialchangeoccurredtothecorecompetitivenessoftheCompanyduringthereportingperiod. Followingthecorporatecultureofresearchanddevelopment,theCompanyhasadiversifiedR&Dservicesystemandprovidesawell-establishedcustomerserviceandmanagementplatform,whicharewell-receivedamongmajorbrandcustomersacrosstheglobe.ThroughconstantcloseinteractionwithcustomersandinnovationinR&D,itcaterstocustomerneedsfromthedevelopmenttothemanufacturingofdifferentiatedproducts. TheCompanyhasbeenadheringtothetwodevelopmentpathsofinnovativeR&Dandtechnologicalapplication, aswellastothedualcirculationstrategyoffocusingonexportandboostingdomesticsales. Focusingonsmartcontrol,smarthouseholdappliances,theapplicationofIoT,etc.inproductdevelopment,theCompanysuppliessmart,qualityproductswithhighaddedvaluetocreatenewmarketdemandandcompeteintheindustry. Inthereportingperiod,theCompanyobtained73patentsinR&D,including36inventionpatents,25utilitymodelpatentsand12designpatents.Therearealsodozensofpatentsbeingappliedfor.ThesepatentscanhelpbetterprotecttheCompany’sintellectualpropertyrights,giveplaytoitscompetitiveedgeinindependentpropertyrights, keepaleadingpositionintechnologyandincreaseitscorecompetitiveness. 13SectionIV.PerformanceDiscussion&AnalysisI.BusinessreviewforthereportingperiodLookingbackto2020,theproductionandsalesactivitiesoftheCompanywereadverselyaffectedinthefirsthalfoftheyearbyfactorssuchasthewidespreadCOVID-19pandemicandtheongoingChina-U.S.tradewar.Inresponse,stringentanti-pandemicmeasureswereadoptedinthereportingperiod.Asaresult,weresumedwork/productioninasafeandorderlymanneraccordingtotheoverallarrangementsofgovernmentsatalllevelswhileensuringthesafetyofouremployeesaainstthepandemic. TheBoardofDirectorsandthemanagementoftheCompanyadheredtothedevelopmentstrategyoffocusingontheprincipalbusinessoperations,andcarriedonwiththesimplificationandtransformationstrategies.Newrawmaterials,techniquesandmanufacturingequipmentwerebroughtin,andmanufacturingplantswererefinedtoincreaseouryieldrateandproductionefficiency,simplifyingandimprovingourproduction.Upholdingthestrategyofinnovation-driventransformation,wedevelopandmanufacturedifferentiatedproductstocompeteintheindustry.Andweaimtoprovideproductswithmulti-functions,highaddedvalueandhighqualityforcustomers. Infaceofthevariousunfavorablefactorsforexport,weweremoreprudentinpurchasestocontrolstocksandcashflows.Ahierarchicalmanagementsystembasedoncustomers’creditlineswascarriedoutinrespectofaccountsreceivable,ordertakingandshipment,andtheircreditlineinsurancecoveragewasincreased.Inaddition, negotiationstobringdownprocurementcosts,expensecontrolandothermeasureswerecarriedout.Meanwhile, assetimpairmentallowanceswereestablisheduponassessmentofnetrealizablevalueofinventoriesandimpairmentsoffixedassets. ThroughbeingmoreintimatewithcustomersandinnovationinR&D,wecreatenewmarketdemandbydevelopingsmart-homeandlow-carbonproducts,whicheffectivelyexpandsourmarketshareandstrengthensouroperatingrevenueandprofitability. II.Mainbusinessanalysis1.OverviewFor2020,weachievedanetprofitattributabletoshareholdersoftheCompanyofRMB140million,up32.58% fromlastyear.Thechangewasprimarilydrivenby: (1)ThenetprofitattributabletoshareholdersoftheCompanyofRMB105millioninlastyearcomprisedthe effect of RMB29.54 million of an extraordinary gain (the asset disposal gain in respect of the relocation of controlled sub-subsidiary TKS’s phase II plant carried out according to the government policy), with no comparable gain in thereporting period. (2) The Company continued to enhance R&D and innovation and launch new products to the market, boosting consumer purchases. In addition, the market demand was also stimulated by the consumers who stayed at home due to the pandemic. As a result, the Company achieved operating revenues of RMB2.144 billion, up 7.11% from last year. Meanwhile, 2020 also saw an increase in profitability due to effective risk control, accurate match of supply and demand, supply chain upgrading measures including negotiations with raw material suppliers on lower costs, cost control andprocess refinement. 2. Revenues and costs (1) Breakdown ofoperating revenues Unit: RMBYuan Item 2020 2019 +/-% Amount In total operating revenues (%) Amount In total operating revenues (%) By segments Small home appliance manufacturing 2,066,576,833.78 96.38 1,919,745,046.46 95.89 7.65 Other services 77,604,904.55 3.62 82,194,795.48 4.11 -5.58 Total 2,144,181,738.33 100.00 2,001,939,841.94 100.00 7.11 By products Cooking utensils 1,470,116,469.53 68.57 1,271,637,191.29 63.52 15.61 Everyday home appliances 397,954,437.24 18.56 388,186,251.50 19.39 2.52 Tea and coffee makers 184,473,267.41 8.60 244,844,541.59 12.23 -24.66 Other products 14,032,659.60 0.65 15,077,062.08 0.75 -6.93 Other services 77,604,904.55 3.62 82,194,795.48 4.11 -5.58 Total 2,144,181,738.33 100.00 2,001,939,841.94 100.00 7.11 By areas Australia 75,243,660.83 3.51 83,031,966.00 4.15 -9.38 Africa 14,907,902.56 0.70 19,351,407.62 0.97 -22.96 America 1,118,127,377.12 52.15 906,460,709.85 45.28 23.35 14 Europe 440,214,124.77 20.53 492,289,796.35 24.59 -10.58 Asia 495,688,673.05 23.11 500,805,962.12 25.01 -1.02 Total 2,144,181,738.33 100.00 2,001,939,841.94 100.00 7.11 (2) Segments, products or areas contributing over10% of operating revenues orprofit √Applicable □ Inapplicable Unit: RMBYuan Item Operating revenue Cost of sales Gross profit margin (%) Operating revenue: +/-% from last year Cost of sales: +/-% from last year Gross profit margin: +/-% from last year By segments Small home appliance manufacturing 2,066,576,833.78 1,722,830,969.80 16.63 7.65 5.62 1.60 Other services 77,604,904.55 33,919,348.10 56.29 -5.58 -2.09 -1.56 Total 2,144,181,738.33 1,756,750,317.90 18.07 7.11 5.46 1.28 By products Cooking utensils 1,470,116,469.53 1,234,617,024.23 16.02 15.61 13.16 1.82 Everyday home appliances 397,954,437.24 335,387,964.40 15.72 2.52 -0.37 2.44 Tea and Coffee makers 184,473,267.41 147,236,293.39 20.19 -24.66 -24.43 -0.24 Other products 14,032,659.60 5,589,687.78 60.17 -6.93 -35.27 17.45 Other services 77,604,904.55 33,919,348.10 56.29 -5.58 -2.09 -1.56 Total 2,144,181,738.33 1,756,750,317.90 18.07 7.11 5.46 1.28 By areas Australia 75,243,660.83 59,851,012.52 20.46 -9.38 -9.85 0.42 Africa 14,907,902.56 11,863,723.39 20.42 -22.96 -20.38 -2.58 America 1,118,127,377.12 934,093,466.91 16.46 23.35 21.79 1.07 Europe 440,214,124.77 360,354,097.45 18.14 -10.58 -13.75 3.01 Asia 495,688,673.05 390,588,017.63 21.20 -1.02 -2.29 1.02 Total 2,144,181,738.33 1,756,750,317.90 18.07 7.11 5.46 1.28 (3) Are the Company’s goods selling revenue higher than the servicerevenue? √Yes□ No 15 Unit: Unit Industry Item 2020 2019 YoY+/-% Sales volume 23,975,250 22,450,713 6.79 Small home appliance manufacturing Output 23,998,870 22,585,389 6.26 Stock 1,769,267 1,745,647 1.35 Reasons for anyover-30%YoYmovement of the dataabove: □Applicable √ Inapplicable (4) Execution of signed significant sales contracts of the Company up tothe reporting period □Applicable √ Inapplicable (5) Breakdown ofcost of sales Unit: RMBYuan Item 2020 2019 YoY+/-% Amount In total cost of sales (%) Amount In total cost of sales (%) By segments Small home appliance manufacturing 1,722,830,969.80 98.07 1,631,156,891.41 97.92 5.62 Other services 33,919,348.10 1.93 34,644,195.77 2.08 -2.09 Total 1,756,750,317.90 100.00 1,665,801,087.18 100.00 5.46 By products Cooking utensils 1,234,617,024.23 70.28 1,091,065,894.00 65.49 13.16 Everyday home appliances 335,387,964.40 19.09 336,632,218.03 20.21 -0.37 Tea and Coffee makers 147,236,293.39 8.38 194,823,071.49 11.70 -24.43 Other products 5,589,687.78 0.32 8,635,707.89 0.52 -35.27 Other services 33,919,348.10 1.93 34,644,195.77 2.08 -2.09 Total 1,756,750,317.90 100.00 1,665,801,087.18 100.00 5.46 16 17(6)Whethertherewerechangesoftheconsolidationscopeduringthereportingperiod√Yes□NoSubsidiaryTsannKuen(Zhangzhou)InvestmentCo.,Ltd.(TKI)wasderegisteredinApril2020.Therefore,ithasbeenexcludedfromtheconsolidatedfinancialstatementssincethedateofderegistration,withitsrevenues, expensesandprofitsbeforethederegistrationincludedintheconsolidatedincomestatement,anditscashflowsbeforethederegistrationincludedintheconsolidatedcashflowstatement. (7)Listofthesignificantchangesoradjustmentoftheindustries,productsorservicesoftheCompanyduringthereportingperiod □Applicable√Inapplicable(8)ListofthemajortradedebtorsandmajorsuppliersListofthemajortradedebtorsoftheCompanyUnit:RMBYuanTotalsalesofthetop5customers1,316,814,003.65Ratioofthetotalsalesofthetop5customerstotheannualtotalsales(%)61.41Ratioofthetotalsalesofrelatedpartiesamongthetop5customerstotheannualtotalsales(%) 0.00Informationofthetop5customersoftheCompanySerialNo.NameofcustomerSalesamountProportioninannualtotalsales(%) 1No.1352,376,529.9216.432No.2299,457,921.8413.973No.3199,029,628.319.284No.4284,357,993.3213.265No.5181,591,930.268.47Total1,316,814,003.6561.41Notesoftheothersituationofthemajorcustomers □Applicable√InapplicableListofthemajorsuppliersoftheCompanyUnit:RMBYuan Totalsalesofthetop5customers1,316,814,003.65Ratioofthetotalsalesofthetop5customerstotheannualtotalsales(%)61.41Ratioofthetotalsalesofrelatedpartiesamongthetop5customerstotheannualtotalsales(%) 0.00Informationofthetop5customersoftheCompanySerialNo.NameofcustomerSalesamountProportioninannualtotalsales(%) 1No.1352,376,529.9216.432No.2299,457,921.8413.973No.3199,029,628.319.284No.4284,357,993.3213.265No.5181,591,930.268.47Total1,316,814,003.6561.41Notesoftheothersituationofthemajorcustomers □Applicable√InapplicableListofthemajorsuppliersoftheCompanyUnit:RMBYuan 18Totalpurchasefromthetop5suppliers254,819,356.91Ratioofthetotalpurchasefromthetop5supplierstotheannualtotalpurchase(%)17.23Ratioofthetotalpurchasefromrelatedpartiesamongthetop5supplierstotheannualtotalpurchase(%)2.90Informationofthetop5suppliersoftheCompanyUnit:RMBYuanNo.NameofsupplierPurchaseamountRatiototheannualpurchaseamount(%) 1No.176,870,398.145.202No.255,202,359.183.733No.345,721,437.283.094No.442,913,323.942.905No.534,111,838.372.31Total254,819,356.9117.23Notesoftheothersituationofthemajorsuppliers√Applicable□InapplicableTheNo.4supplieramongthetop5suppliersistherelatedpartyoftheCompany. 3.ExpensesUnit:RMBYuanItem20202019YoY+/-(%)NotesofthesignificantchangesSellingexpenses55,857,793.4163,389,947.24-11.88Administrativeexpenses82,381,345.4783,008,382.58-0.76R&Dexpenses61,944,782.4271,898,743.35-13.84Financecosts27,512,741.83-7,160,360.79484.24Mainlyduetotheincreaseinunrealizedassessedexchangelossesinthecurrentperiod4.R&Dinvestment√Applicable□InapplicableTheCompanyhasbeenadheringtoR&D,continuedtopromoteinnovationinR&Dtocreatemoreintimacywithcustomers,andcreatemarketdemandbydevelopingsmart-homeandlow-carbonproducts.Meanwhile, Totalpurchasefromthetop5suppliers254,819,356.91Ratioofthetotalpurchasefromthetop5supplierstotheannualtotalpurchase(%)17.23Ratioofthetotalpurchasefromrelatedpartiesamongthetop5supplierstotheannualtotalpurchase(%)2.90Informationofthetop5suppliersoftheCompanyUnit:RMBYuanNo.NameofsupplierPurchaseamountRatiototheannualpurchaseamount(%) 1No.176,870,398.145.202No.255,202,359.183.733No.345,721,437.283.094No.442,913,323.942.905No.534,111,838.372.31Total254,819,356.9117.23Notesoftheothersituationofthemajorsuppliers√Applicable□InapplicableTheNo.4supplieramongthetop5suppliersistherelatedpartyoftheCompany. 3.ExpensesUnit:RMBYuanItem20202019YoY+/-(%)NotesofthesignificantchangesSellingexpenses55,857,793.4163,389,947.24-11.88Administrativeexpenses82,381,345.4783,008,382.58-0.76R&Dexpenses61,944,782.4271,898,743.35-13.84Financecosts27,512,741.83-7,160,360.79484.24Mainlyduetotheincreaseinunrealizedassessedexchangelossesinthecurrentperiod4.R&Dinvestment√Applicable□InapplicableTheCompanyhasbeenadheringtoR&D,continuedtopromoteinnovationinR&Dtocreatemoreintimacywithcustomers,andcreatemarketdemandbydevelopingsmart-homeandlow-carbonproducts.Meanwhile, living-alone and sanitization products are developed as a response to the COVID-19 pandemic. These efforts help expand ourmarket share andstrengthenour operating revenues andprofitability. R&D investment of theCompany Item 2020 2019 +/-(%) Number of the R&D personnel (person) 337 390 -13.59 Ratio to the R&D personnel (%) 7.31 10.58 -3.27 Investment amount of the R&D (RMB Yuan) 61,944,782.42 71,898,743.35 -13.84 Ratio of the R&D investment to the operating revenue (%) 2.89 3.59 -0.70 Amount of the capitalized R&D investment (RMBYuan) 0.00 0.00 0.00 Ratio of the capitalized R&D investment to the R&D investment 0.00 0.00 0.00 Reason of remarkable changes over the last year of the ratio of the total R&D investment amount to the operating revenue □Applicable √ Inapplicable Reason of thegreatly change of theratio of the R&D investment capitalization andits reasonable explanation □Applicable √ Inapplicable 5. Cash flow Unit: RMBYuan Item 2020 2019 +/-(%) Subtotal of cash inflows from operating activities 2,141,042,251.53 2,203,247,739.72 -2.82 Subtotal of Cash outflows for operating activities 1,825,771,168.29 2,059,627,451.74 -11.35 Net cash flows from operating activities 315,271,083.24 143,620,287.98 119.52 Subtotal of cash inflows from investing activities 856,688,665.62 938,297,482.71 -8.70 Subtotal of cash outflows from investing activities 1,072,088,051.44 880,481,265.12 21.76 Net cash flows from investing activities -215,399,385.82 57,816,217.59 -472.56 Subtotal of cash inflows from financing activities 97,907,340.00 93,195,400.00 5.06 19 Subtotal of cash outflows from financing activities 160,602,021.04 99,593,204.12 61.26 Net cash flows from financing activities -62,694,681.04 -6,397,804.12 -879.94 Net increase of cash and cash equivalents 33,178,004.70 191,130,906.51 -82.64 Notes of the major effectson theYoYsignificant changes occurredof thedata above √Applicable □ Inapplicable 1. Net cash flows from operating activities increased by 119.52% from last year mainly due to the decrease of the payment of accounts receivable at the beginning of the reporting period in the reporting period compared with that of last year andthe extension of suppliers’payment terms for the reportingperiod. 2. Net cash flows from investing activities decreased by 472.56% from last year mainly due to the increase of finance products purchased for the reporting （未完）  |