[年报]深华发Ｂ(200020):2021年年度报告（英文版）
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时间：2022年04月25日 20:12:01 中财网 |
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原标题:深华发Ｂ:2021年年度报告（英文版）
SHENZHEN ZHONGHENG HUAFA CO., LTD.
ANNUAL REPORT 2021
April 2022
ANNUAL REPORT 2021
Section I. Important Notice, Contents and Interpretation
Board of Directors, Supervisory Committee, all directors, supervisors and senior executives of Shenzhen Zhongheng HUAFA Co., Ltd. (hereinafter referred to as the Company) hereby confirm that there are no any fictitious statements, misleading statements, or important omissions carried in this report, and shall take all responsibilities, individual and/or joint, for the reality, accuracy and completion of the whole contents.
Li Zhongqiu, Principal of the Company, Chen Zhigang, person in charger of accounting works and Chuai Guoxu, person in charge of accounting organ (accounting principal) hereby confirm that the Financial Report of 2021 Annual Report is authentic, accurate and complete.
All directors are attended the Board Meeting for Report deliberation.
Concerning the forward-looking statements with future planning involved in the Report, they do not constitute a substantial commitment for investors. Majority investors are advised to exercise caution of investment risks.
Risks factors are being well-described in the Report, found more in risks factors and countermeasures disclosed in Prospects for Future Development of the Board of Directors’ Report.
The Company has no plan of cash dividends carried out, bonus issued and capitalizing of common reserves either.
ANNUAL REPORT 2021
Contents
Section I Important Notice, Contents and Interpretation ........................................................... 2
Section II Company Profile and Main Financial Indexes ............................................................ 6
Section III Management Discussion and Analysis ......................................................................................... 11
Section IV Corporate Governance ........................................................................................................... 23
Section V Enviornmental and Social Responsibility ....................................................................................... 41
Section VI Important Events ...................................................................................................... 42
Section VII Changes in shares and particular about shareholders ........................................... 60
Section VIII Preferred Stock ...................................................................................................... 68
Section IX Corporate Bonds ....................................................................................................... 69
Section X Financial Report ......................................................................................................... 70
ANNUAL REPORT 2021
Documents Available for Reference
I. Text of the Annual Report with signature of the Chairman; II. Financial statement carrying the signatures and seals of the person in charge of the Company, principal of the
accounting works and person in charge of accounting organ;
III. All documents of the Company and manuscripts of public notices that disclosed in the China Securities
Journal, Securities Times and Hong Kong Commercial Daily designated by CSRC during the reporting period;
IV. Article of Association
V. Other relevant files.
| Items | Refers to | Contents | | Company, Shen HUAFA | Refers to | SHENZHEN ZHONGHENG HUAFA CO., LTD. | | Hengfa Technology | Refers to | Wuhan Hengfa Technology Co., Ltd. | | HUAFA Property | Refers to | Shenzhen Zhongheng HUAFA Property Co., Ltd | | HUAFA Lease | Refers to | Shenzhen HUAFA Property Lease Management Co., Ltd | | Wuhan Zhongheng Group | Refers to | Wuhan Zhongheng New Science & Technology Industrial Group Co.,
Ltd | | HK Yutian | Refers to | Hong Kong Yutian International Investment Co., Ltd. | | Hengsheng Photo-electricity | Refers to | Wuhan Hengsheng Photo-electricity Industry Co., Ltd. | | Hengsheng Yutian | Refers to | Wuhan Hengsheng Yutian Industrial Co., Ltd. | | Yutian Henghua | Refers to | Shenzhen Yutian Henghua Co., Ltd. | | HUAFA Hengtian | Refers to | Shenzhen HUAFA Hengtian Co., Ltd. | | HUAFA Hengtai | Refers to | Shenzhen HUAFA Hengtai Co., Ltd. | | Shenzhen Vanke | Refers to | Shenzhen Vanke Real Estate Co., Ltd， 现改名为“ Shenzhen Vanke
Development Co., Ltd.” | | Vanke Guangming | Refers to | Shenzhen Vanke Guangming Real Estate Development Co., Ltd | | V& T Law Firm | Refers to | Shenzhen V& T Law Firm | | Zhongheng Semiconductor (former
Huafa Technology) | Refers to | Shenzhen Zhongheng Semiconductor Co., Ltd. (former Zhongheng
Huafa Technology Co., Ltd) |
| Short form of the stock | Shen HUAFA -A, Shen HUAFA- B | Stock code | 000020, 200020 | | Stock exchange for listing | Shenzhen Stock Exchange | | | | Name of the Company (in
Chinese) | 深圳中恒华发股份有限公司 | | | | Short form of the Company
(in Chinese) | 深华发 | | | | Foreign name of the
Company (if applicable) | SHENZHEN ZHONGHENG HUAFA CO., LTD. | | | | Legal representative | Li Zhongqiu | | | | Registrations add. | 411 Bldg., Huafa (N) Road, Futian District, Shenzhen | | | | Code for registrations add | 518031 | | | | Historical changes of
registered address | N/A | | | | Offices add. | 6/F East Tower, Huafa Building, 411 Bldg., Huafa (N) Road, Futian District, Shenzhen | | | | Codes for office add. | 518031 | | | | Company’s Internet Web
Site | http://www.hwafa.com.cn | | | | E-mail | [email protected] | | |
II. Person/Way to contact
| | Secretary of the Board | Rep. of security affairs | | Name | Niu Zhuo | | | Contact add. | 618, 6/F East Tower, Huafa Building,
411 Bldg., Huafa (N) Road, Futian
District, Shenzhen | | | Tel. | 0755-86360201 | | | Fax. | 0755-86360201 | | | E-mail | [email protected] | |
| Website of the Stock Exchange where the annual
report of the Company disclosed | Securities Times; Hong Kong Commercial Daily | | Media and Website where the annual report of the
Company disclosed | http://www.cninfo.com.cn | | Preparation place for annual report | Office of the Board of SHENZHEN ZHONGHENG HUAFA CO., LTD. |
IV. Registration changes of the Company
| Organization code | Before change: 61883037-2, after changed: 91440300618830372G | | Changes of main business since listing
(if applicable) | Before the change of controlling shareholders: the main business was production and
sales of color TV, printed circuit board and injection molded parts etc. After the
change of controlling shareholders: the main business gradually adjusted to
production and sales of injection molded parts, foam part (light packaging materials)
and LCD whole machine. | | Previous changes for controlling
shareholders (if applicable) | The Company’s predecessor was Shenzhen Huafa Electronic Co., LTD, which was
founded in 1981, initiated and established by three legal persons-- Shenzhen SEG
Group Co., Ltd., China Zhenhua Electronic Group Co., LTD and Hong Kong Luks
Industrial Co., LTD. In June 2005, Wuhan Zhongheng Group transferred the 44.12%
equity of company, held by original first and second largest shareholder of the
Company Shenzhen SEG Group Co., Ltd and China Zhenhua Electronic Group Co.,
LTD, and equity transfer formalities completed in April 2007; Wuhan Zhongheng
Group became the controlling shareholder of the Company. In September 2007, the
company officially changed its name to “Shenzhen Zhongheng HUAFA Co., Ltd”. |
V. Other relevant information
CPA engaged by the Company
| Name of CPA | WUYIGE Certified Public Accountants LLP | | Offices add. for CPA | 22/F College International Mansion, No.1 Zhi Chun Road, Haidian District, Beijing | | Signing Accountants | Yao Cuiling, Yang Ting |
Sponsor engaged by the Company for performing continuous supervision duties in reporting period □ Applicable √ Not applicable
Financial consultant engaged by the Company for performing continuous supervision duties in reporting period
□ Applicable √ Not applicable
VI. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data □ Yes √ No
| | 2021 | 2020 | Changes in the
current year over the
previous year (+,-) | 2019 | | Operating income (RMB) | 765,611,248.70 | 691,742,269.12 | 10.68% | 721,557,440.51 | | Net profit attributable to
shareholders of the listed
company (RMB) | 7,201,902.02 | 6,830,187.40 | 5.44% | 5,460,049.15 | | Net profit attributable to
shareholders of the listed
company after deducting
non-recurring gains and
losses(RMB) | 6,379,384.96 | 4,103,393.55 | 55.47% | 4,843,096.96 | | Net cash flow arising from
operating activities (RMB) | -12,323,760.07 | 59,719,269.60 | -120.64% | 74,463,707.01 | | Basic earnings per
share(RMB/Share) | 0.0254 | 0.0241 | 5.39% | 0.0193 | | Diluted earnings per
share(RMB/Share) | 0.0254 | 0.0241 | 5.39% | 0.0193 | | Weighted average ROE | 2.07% | 2.03% | 0.04% | 1.67% | | | Year-end of 2021 | Year-end of 2020 | Changes at end of
the current year
compared with the
end of previous year
(+,-) | Year-end of 2019 | | Total assets (RMB) | 659,933,225.57 | 627,779,621.06 | 5.12% | 614,163,899.86 | | Net assets attributable to
shareholder of listed company
(RMB) | 343,450,639.31 | 336,248,737.29 | 2.14% | 329,428,049.89 |
The lower of the company’s net profit before or after deduction of non-recurring profit (gain)/loss for the last three financial years is
negative, and the audit report for the latest year indicates that there is uncertainty about the company’s ability to continue as a going
concern
□Yes √No
The lower of the net profit before or after deduction of non-recurring profit (gain)/loss is negative
□Yes √No
VII. Difference of the accounting data under accounting rules in and out of China 1. Difference of the net profit and net assets disclosed in financial report, under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
| | Q 1 | Q 2 | Q 3 | Q 4 | | Operating income | 190,936,203.57 | 200,697,604.98 | 211,898,917.91 | 162,084,471.53 | | Net profit attributable to
shareholders of the listed
company | 5,557,677.31 | 1,431,685.17 | 1,123,649.15 | -1,014,695.49 | | Net profit attributable to
shareholders of the listed
company after deducting
non-recurring gains and losses | 5,476,703.89 | 1,557,494.89 | 572,226.97 | -1,438,157.57 | | Net cash flow arising from
operating activities | -5,125,776.38 | -16,692,593.21 | -2,235,279.99 | 40,890,272.74 |
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
IX. Items and amounts of extraordinary profit (gains)/loss √Applicable □ Not applicable
Unit: RMB/CNY
| Item | 2021 | 2020 | 2019 | Note | | Gains/losses from the disposal of
non-current asset (including the write-off
that accrued for impairment of assets) | 7,871.56 | 817,533.49 | 9,298.34 | | | Governmental subsidy reckoned into
current gains/losses (except for those with
normal operation business concerned, and
conform to the national policies & | 1,297,733.35 | 2,728,618.05 | 534,380.00 | | | regulations and are continuously enjoyed
at a fixed or quantitative basis according
to certain standards) | | | | | | Gain/loss of entrusted investment or assets
management | | 165,317.73 | 180,964.60 | | | Gains/losses arising from contingencies
not related to Company’s normal
operating business | -736,748.18 | | | | | Except for the effective hedging
operations related to normal business
operation of the Company, the
gains/losses of fair value changes from
holding the trading financial assets and
trading financial liabilities, and the
investment earnings obtained from
disposing the trading financial asset,
trading financial liability | 163,562.36 | | | | | Switch back of provision for depreciation
of account receivable which was singly
taken depreciation test | | | 553,901.68 | | | Other non-operating income and
expenditure except for the aforementioned
items | 417,245.81 | -385,232.40 | -424,941.86 | | | Less: Impact on income tax | 327,147.84 | 599,443.02 | 236,650.57 | | | Total | 822,517.06 | 2,726,793.85 | 616,952.19 | -- |
Specific information on other items of profits/losses that qualified the definition of non-recurring profit(gain)/loss
□Applicable √Not applicable
The Company does not have other items of profits/losses that qualified the definition of non-recurring profit(gain)/loss
Information on the definition of non-recurring profit(gain)/loss that listed in the Q&A Announcement No.1 on Information Disclosure
for Companies Offering Their Securities to the Public --- Extraordinary (non-recurring) Profit(gain)/loss as the recurring
profit(gain)/loss
□Applicable √Not applicable
The Company does not have any non-recurring profit(gain)/loss listed under the Q&A Announcement No.1 on Information Disclosure
for Companies Offering Their Securities to the Public --- Extraordinary (non-recurring) Profit(gain)/loss defined as recurring
profit(gain)/loss
ANNUAL REPORT 2021
Section III Management Discussion and Analysis
I. Industry of the Company during the reporting period
With the arrival of the era of artificial intelligence, intelligence has become a major trend of the development of
the home appliance industry, in the main electrical products, the intelligent rate of color TV is the highest, the
intelligent permeability of air conditioning, washing machine is also accelerating, as the home appliance industry
supporting manufacturers will benefit from the great development. II. Main businesses of the Company during 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, polygon (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.
III. Core competitiveness analysis
All industrial lands of the Company located in Shenzhen were taken into the first batch of plan under 2010
Shenzhen urban upgrade planning. In the future, development and operation of self-owned land resources would
become the income source of the Company on a long-term and stable basis.
IV. Main business analysis
1.Overview
In 2021, due to the adverse impact of THE COVID-19 epidemic on the macro economy, the impact brought by the
sharp rise in the price of upstream raw materials in the industry, as well as the "dual control of energy
consumption" and other measures introduced by some localities, the production and operation environment of the
company is facing great challenges. Under the leadership of the company's leaders, all staff have basically
completed the economic targets set at the beginning of the period, showing a benign development trend of stable
growth.
In 2021, the Company achieved operating income of 765.6112 million yuan, an increase of 10.68% over the same
period of previous year; total profit amounted to 11.9506 million yuan, an increase of 35.54% over the same
period of previous year, and the net profit was 7.2019 million yuan, 5.44% up over the same period last year.
●Video service business achieved operating income of 415.4231 million yuan for the whole year, an increase of
| | 2021 | | 2020 | | Increase/decrease
y-o-y (+,-) | | | Amount | Ratio in operation
income | Amount | Ratio in operation
income | | | Total operation
income | 765,611,248.70 | 100% | 691,742,269.12 | 100% | 10.68% | | According to industries | | | | | | | Display | 415,423,079.69 | 54.26% | 396,060,015.82 | 57.26% | 19.29% | | Plastic injection
hardware | 224,947,682.55 | 29.38% | 185,491,674.08 | 26.82% | -25.86% | | Foam pieces | 43,421,169.27 | 5.67% | 35,833,322.61 | 5.18% | -44.30% | | Property leasing | 50,347,102.73 | 6.58% | 40,587,453.21 | 5.87% | 4.55% | | Material income | 26,693,866.77 | 3.49% | 29,728,400.10 | 4.30% | -98.60% | | Utilities and others | 4,778,347.69 | 0.62% | 4,041,403.30 | 0.58% | 476.03% | | According to products | | | | | | | Display | 415,423,079.69 | 54.26% | 396,060,015.82 | 57.26% | 4.89% | | Plastic injection
hardware | 224,947,682.55 | 29.38% | 185,491,674.08 | 26.82% | -3.82% | | Foam pieces | 43,421,169.27 | 5.67% | 35,833,322.61 | 5.18% | 21.18% | | Property leasing | 50,347,102.73 | 6.58% | 40,587,453.21 | 5.87% | 24.05% | | Material income | 26,693,866.77 | 3.49% | 29,728,400.10 | 4.30% | 146.35% | | Utilities and others | 4,778,347.69 | 0.62% | 4,041,403.30 | 0.58% | 18.23% | | According to region | | | | | | | Domestic | 509,999,596.18 | 66.61% | 89,452,347.92 | 12.93% | 94.40% | | Overseas | 255,611,652.52 | 33.39% | 602,289,921.20 | 87.07% | -11.55% | | According to sales model | | | | | | | Direct sales | 765,611,248.70 | 100.00% | 691,742,269.12 | 100.00% | 10.68% |
(2) The industries, products, regions or sales model accounting for over 10% of the Company’s operation
revenue or operation profit
√Applicable □ Not applicable
Unit: RMB/CNY
| | Operating
income | Operating cost | Gross profit
ratio | Increase/decrea
se of operating
income y-o-y | Increase/decrea
se of operating
cost y-o-y | Increase/decrea
se of gross
profit ratio
y-o-y | | According to industries | | | | | | | | Display | 415,423,079.69 | 391,846,657.69 | 5.68% | 4.89% | -2.92% | -0.95% | | Plastic
injection
hardware | 178,411,171.56 | 168,078,526.96 | 5.79% | -3.82% | -2.79% | -2.96% | | According to products | | | | | | | | Display | 415,423,079.69 | 391,846,657.69 | 5.68% | 4.89% | -2.92% | -0.95% | | Plastic
injection
hardware | 178,411,171.56 | 168,078,526.96 | 5.79% | -3.82% | -2.79% | -2.96% | | According to region | | | | | | | | According to sales model | | | | | | | | Direct sales | 593,834,251.25 | 559,925,184.65 | 5.71% | 2.11% | 4.10% | -1.81% |
Under circumstances of adjustment in reporting period for statistic scope of main business data, adjusted main business based on
latest one year’s scope of period-end
□ Applicable √ Not applicable
(3) Income from physical sales larger than income from labors √ Yes □ No
| According to
industries | Item | Unit | 2021 | 2020 | Increase/decrease
y-o-y (+,-) | | Display | Sales volume | Set | 712,137 | 900,704 | -20.94% | | | Output | Set | 712,857 | 876,231 | -18.65% | | | Storage | Set | 17,275 | 16,555 | 4.35% | | Plastic injection
hardware | Sales volume | Ton | 9,464.96 | 9,902.24 | -4.42% | | | Output | Ton | 11,181.58 | 10,272.97 | 8.84% | | | Storage | Ton | 2,634.87 | 918.25 | 186.94% | | Foam pieces | Sales volume | Ton | 2,880 | 2,511.02 | 14.69% | | | Output | Ton | 2,831.64 | 2,508.54 | 12.88% | | | Storage | Ton | 166.05 | 214.41 | -22.55% |
Reasons for y-o-y relevant data with over 30% changes
√Applicable □ Not applicable
In 2021, the plastic injection hardware increase Zhengzhou Division, the inventory increased. (4) Performance of significant sales contracts, major procurement contract entered into by the company up
to the current reporting period
□ Applicable √ Not applicable
(5)Composition of operation cost
Classification of industries and products
Unit: RMB/CNY
| Industries | Item | 2021 | | 2020 | | Increase/decrea
se y-o-y (+,-) | | | | Amount | Ratio in
operation cost | Amount | Ratio in
operation cost | | | Display | | 391,846,657.69 | 57.38% | 369,785,369.91 | 60.30% | -2.92% | | Plastic
injection
hardware | | 168,078,526.96 | 24.61% | 168,053,472.02 | 27.40% | -2.79% | | Foam pieces | | 45,040,644.84 | 6.60% | 37,890,056.81 | 6.18% | 0.42% | | Property
leasing | | 7,620,827.32 | 1.12% | 5,329,922.72 | 0.87% | 0.25% | | Material
income | | 65,440,257.86 | 9.58% | 28,254,317.78 | 4.61% | 4.97% | | Utilities and
others | | 4,858,092.80 | 0.71% | 3,915,555.27 | 0.64% | 0.07% |
Unit: RMB/CNY
| Products | Item | 2021 | | 2020 | | Increase/decrea
se y-o-y (+,-) | | | | Amount | Ratio in
operation cost | Amount | Ratio in
operation cost | | | Display | | 391,846,657.69 | 57.38% | 369,785,369.91 | 60.30% | -2.92% | | Plastic
injection
hardware | | 168,078,526.96 | 24.61% | 168,053,472.02 | 27.40% | -2.79% | | Foam pieces | | 45,040,644.84 | 6.60% | 37,890,056.81 | 6.18% | 0.42% | | Property
leasing | | 7,620,827.32 | 1.12% | 5,329,922.72 | 0.87% | 0.25% | | Material
income | | 65,440,257.86 | 9.58% | 28,254,317.78 | 4.61% | 4.97% | | Utilities and
others | | 4,858,092.80 | 0.71% | 3,915,555.27 | 0.64% | 0.07% |
Explanation
Nil
(6) Whether the changes in the scope of consolidation in Reporting Period □Yes √No
(7) Major changes or adjustment in business, product or service of the Company in Reporting Period
□ Applicable √ Not applicable
(8) Major sales and main suppliers
Major sales client of the Company
| Total top five clients in sales (RMB) | 513,936,870.10 | | Proportion in total annual sales volume for top five
clients | 67.13% | | Ratio of related parties in annual total sales among the
top five clients | 13.08% |
Information of top five clients of the Company
| Serial | Clients | Sales (RMB) | Proportion in total annual sales | | 1 | No.1 | 189,532,652.51 | 24.76% | | 2 | No.2 | 100,111,660.49 | 13.08% | | 3 | No.3 | 111,017,090.11 | 14.50% | | 4 | No.4 | 62,326,226.30 | 8.14% | | 5 | No.5 | 50,949,240.69 | 6.65% | | Total | -- | 513,936,870.10 | 67.13% |
Other situation of main clients
□ Applicable √ Not applicable
Main suppliers of the Company
| Total purchase amount from top five suppliers (RMB) | 92,047,329.20 | | Proportion in total annual purchase amount for top five
suppliers | 13.18% | | Ratio of related parties in annual total sales among the
top five suppliers | 11.42% |
Information of top five suppliers of the Company
| Serial | Supplier | Purchase (RMB) | Proportion in total purchase | | 1 | No.1 | 79,714,655.46 | 11.42% | | 2 | No.2 | 4,362,455.47 | 0.62% | | 3 | No.3 | 2,897,420.76 | 0.41% | | 4 | No.4 | 3,531,828.12 | 0.51% | | 5 | No.5 | 1,540,969.40 | 0.22% | | Total | -- | 92,047,329.20 | 13.18% |
Other explanation on main suppliers
□ Applicable √ Not applicable
3. Expenses
Unit: RMB/CNY
| | 2021 | 2020 | Increase/decreas | Note of major changes | | | | | e y-o-y (+,-) | | | Sales expense | 8,440,486.05 | 15,417,760.60 | -45.25% | Reduced commodity losses | | Administrative
expense | 41,484,831.93 | 34,481,219.11 | 20.31% | | | Financial expense | 7,795,478.74 | 12,640,702.89 | -38.33% | Decrease in foreign exchange
gain/loss | | R&D expenses | 10,794,872.74 | 7,285,833.84 | 48.16% | Increase in R&D projects |
4. R&D investment
√Applicable □Not applicable
| Projects | Purpose | Progress | Goals to be achieved | Expected impact on the
future development of the
Company | | R&D of the new
piano curved
surface display | Research on new
display | Completed | Obtained a patent | New display | | R&D of the back
shell structure for
new display | R&D of new display
and back shell snap | Completed | Obtained a patent | New display and snap | | R&D of new
display and
chassis | R&D of new display
and chassis | Completed | Obtained a patent | New display and chassis | | Development and
application of the
intelligent new
process for home
appliance panels | New processes | Completed | Obtained a patent | Access to new processes | | Development and
application of the
new oiling and
installation
devices for
domestic AC | New processes | Completed | Obtained a patent | Access to new processes | | R&D and
application of the
heating system | New processes | Completed | Obtained a patent | Access to new processes |
Personnel of R&D
| | 2021 | 2020 | Change ratio(+,-) | | Number of R&D (people) | 96 | 76 | 26.32% | | Ratio of number of R&D | 8.57% | 9.07% | -0.50% | | Educational background | —— | —— | —— | | Undergraduate | 52 | 45 | 15.56% | | Master | 0 | 0 | 0.00% | | Age composition | —— | —— | —— |
Investment of R&D （未完）
|
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