深纺织Ｂ：报告摘要（英文版） .ppt

1,2,Tel,Fax,Stock code:000045,200045,Stock Abbreviation:Shen Textile A，Shen Textile B,Announcement No.:2012-010,Summary of 2011 Annual Report of Shenzhen Textile(Holdings)Co.,Ltd.Important notes1.1 The Board of Directors of the Company hereby guarantees that there are no misstatement,misleading representation or important omissions in this report and shall assume joint and severalliability for the authenticity,accuracy and completeness of the contents hereof.This semi-annual report is extracted from the full text of the semi-annual report.The full text of thereport was published on simultaneously.Investors should read the full text ofthe semi-annual report carefully to know the details.1.2 Peking Certified Public Accountants issued standard unqualified Auditors Report For theCompany.1.3.Mr.Wang Bin,Chairman of the board,Mr.Zhu Jun,General Manager，Mr.Liu Yi,Manager ofaccounting represent and warrant the financial and accounting report in the annual report is true andcomplete.Basic Information2.1 Basic information,Stock abbreviationStock codeStock exchange for listing,Shen Textile A，Shen Textile B000045、200045Shenzhen Stock Exchange,2.2 Contact person and contact manner,Board secretary,Securities affairs Representative,NameContact addressE-mail,Chao Jin6/F,Shenfang Building,No.3 Huaqiang NorthRoad,Futian District,Shenzhen0755-837760430755-,Jiang Peng6/F,Shenfang Building,No.3 Huaqiang NorthRoad,Futian District,Shenzhen0755-837760430755-,3 Highlights of Accounting Data and Financial Indicators3.1 Main accounting dataUnit:RMB,2011,2010,Changed over last year（）,2009,Operating GrossincomeOperating incomeTotal profitNet profit attributableto the shareholders of,712,893,557.2636,757,319.0761,066,948.5448,915,594.47,637,801,565.4037,412,783.1547,917,862.6140,709,271.22,11.77%-1.75%27.44%20.16%,488,073,309.5341,619,777.6943,030,992.3438,015,487.14,1,the listed companyNet profit afterdeducting of,non-recurringgain/loss attributable,28,195,007.31,22,279,756.15,26.55%,19,156,072.72,to the shareholders oflisted companyCash flow generated,by business operation,27,750,962.45,56,893,780.45,-51.22%,47,339,654.25,net,End of 2011,End of 2010,Changed over last year（）,End of 2009,Gross AssetsGross liabilities,1,808,226,905.67438,598,312.06,1,655,422,298.41309,453,073.44,9.23%41.73%,802,562,856.93309,316,559.66,Shareholders equity,attributable toshareholders of the,1,369,628,593.61,1,345,969,224.97,1.76%,493,246,297.27,listed company,Capital stock,336,521,849.00,336,521,849.00,0.00%,245,124,000.00,3.2 Main financial indicesUnit：RMB,2011,2010,Changed over last（）,2009,Basic gains pershare(RMB/Share)Diluted gains pershare(RMB/Share),0.150.15,0.140.14,7.14%7.14%,0.160.16,Basic earning per share after,deducting of non-recurring,0.08,0.08,0.00%,0.08,gains/losses(RMB/Share),Net income on asset,Weighted(%),3.60%,4.74%,Decreased by 1.14%,8.88%,Net income on asset,weighted,and deducted non-recurring,2.08%,2.59%,Decreased by 0.51%,4.48%,gain/loss(%)Net cash flow per share,generated by business,0.08,0.17,-52.94%,0.19,operation(RMB/Share),End of 2011,End of 2010,Changed over last（）,End of 2009,Net asset per share attributable,to shareholders of the listed,4.07,4.00,1.75%,2.01,company(RMB/Share),Assets liabilities ratio,24.26%,18.69%,5.57%,38.54%,3.3.Items of non-recurring gains and losses applicable not applicableUnit：RMB,Items of non-recurringgains and losses,Amount(2011),Notes（If applicable）,Amount(2010)Amount(2009),2,of,-,0,0,0,0,0,0,The,gains,from,disposal,186,017.76,-13,674.29,-74,185.24,non-current assets,Governmental Subsidyaccounted as currentgain/loss,except forthose subsidies at withamount or quantityfixed by the nationalgovernment andclosely related to theCompanys businessoperation.Thedisposal,The governmental subsidy accounted for as profits orlosses for current period mainly includes major financialaid of RMB 800,000.00 for technological developmentgranted by Futian Science and Technology Bureau,fund13,258,252.62 of RMB 1,800,000.00 supporting independent innovationof enterprise for phase-I project of polarizer sheet forTFT-LCD and amortized national financial aid of RMB1,000,000.00 for special industrialization project ofnew-type panel display devices;The investment income from financial assets available,10,201,057.17,642,857.14,available-for-salefinancial assets gains,1,482,128.46,for sale is the investment income from selling shares ofShenzhen Victor Onward Textile Industrial Co.,Ltd.,12,252,760.25,22,163,053.37,return on investment,through secondary market.“Other non-operating income and expenditure exceptthe above-mentioned items”mainly due to receipt of1.085,733 A shares of Guangdong Sunrise Group Co.,Other amount ofnon-operating incomeand expense except theaforesaid items,Ltd.(According to the closing price of A shares of*STSunrise On May 17,2010(the last trading day before10,868,359.09 suspension of listing),i.e.,RMB 9.07 per share)andcash of RMB 702,694.14(RMB 10,550,292.45 in totalas recognized non-operating income)according to,317,696.58,842,542.75,(2010)Shen Zhong Zhen Zhi No.5-5 Civil Award andthe plan for Reorganization of Guangdong Sun RiseGroup Co.,Ltd.,Amount of influenceof income taxTotal,-5,074,170.7720,720,587.16,-4,328,324.6418,429,515.07,-4,714,853.6018,859,414.42,4.Number of shareholders and Particulars shareholders and Control diagram.4.1 Top 10 shareholders and top 10 holders of unconditional sharesUnit：Share,Total number of shareholders on,By the end of the last month of,the end,of the report,22,078,the announcement date of the,22,953,period of 2011.,annual report period,Particulars about the shareholding of the top ten shareholders,Name of shareholderShenzhen InvestmentManagement Co.,Ltd.,Nature ofshareholderState-ownedlegal person,Proportion(%)54.26%,Quantity ofshares held182,611,460,Conditional shares37,634,408,Pledged or frozen,Shenzhen Shenchao Technology State-ownedInvestment Co.,Ltd.legal personZhejiang Silicon ValleyDomestic non-,4.79%,16,129,032,16,129,032,Tiantang Kuncheng ChuangyeInvestment Co.,Ltd.Huabao Intrust Co.,Ltd.,State-ownedlegal personDomestic non-,2.59%0.43%,8,707,0971,457,000,3,0,0,0,0,0,0,0,0,953,617,State-ownedlegal person,CHINA OPPORTUNITIES H-B ForeignFUND person,Legal,0.38%,1,271,367,0,0,Domestic,Zheng BangN,nature,person,0.35%,1,169,000,shares,China Merchants Securities(HK)Co.,Ltd.Shenzhen Zhongnan LiankangTechnology Co.,Ltd.Cai Zhihao,State-ownedlegal personDomestic non-State-ownedlegal personState shares,0.28%0.27%0.24%,953,617916,603795,428,Domestic,Xu Ruijiang,nature,person,0.24%,791,688,0,0,sharesTop 10 holders of unconditional shares,Name of the shareholder,Unconditional shares,Type of shares,Shenzhen Investment Management Co.,Ltd.Zhejiang Silicon Valley Tiantang KunchengChuangye Investment Co.,Ltd.Huabao Intrust Co.,Ltd.,144,977,052 RMB Common shares8,707,097 RMB Common shares1,457,000 RMB Common shares,CHINA OPPORTUNITIES H-B FUNDZheng BangN,1,271,3671,169,000,Foreign shares placed in domesticexchangeForeign shares placed in domesticexchange,China Merchants Securities(HK)Co.,Ltd.Shenzhen Zhongnan Liankang Technology Co.,Ltd.Cai Zhihao,Foreign shares placed in domesticexchange916,603 RMB Common shares795,428 RMB Common shares,Xu RuijiangLiu Hong,791,688710,000,Foreign shares placed in domesticexchangeForeign shares placed in domesticexchange,The Chinese legal person Shenzhen Shenchao Technology Investment Co.,Ltd.is a,Notes to the related relationshipbetween the top tenshareholders or their concertedaction,100%subsidiary of Shenzhen Investment Holding Co.,Ltd,which thus is a personacting in concert.There is no affiliation among the other state-owned legal persons as ashareholder.Except this,the Company does not know whether there is relation betweensocial public shareholders or whether they are persons taking concerted action definedin Regulations on Disclosure of Information about Shareholding of Shareholders of,Listed Companies.4.2 The block diagram of the title and control relationship between the Company and actualcontroller is as follows:4,5 Report of the Board of Directors,5.1 Discussion and analysis by the management,1.Summary of Overall Operation during the Report Period,In 2011,is the key year of the strategic transformation implemented by the company.Facing the complex andchangeable economic situation,the company promotes the projects construction of polarizer film and theproduction management,based on the industry transformation upgrade and focus on the technological innovationand standard management to vigorously develop new markets and improve the operation efficiency,in order toachieve the synchronized and coordinated development between the industry transformation upgrade and theproduction operation.The achieved corporate income is RMB 712.8936 million in 2011 which increased for11.77%comparing with the same period in last year.The achieved net profit attributable to the owner of parentcompany is 48.916 million which Increased for 20.16%comparing with the same period in last year.2.The scope of main operation and its operating status,The Company is mainly engaged in the production and trading of textile products,garments,Polarizer sheet for,LCD and relevant products and in the lease and management of properties.,Manufacturing industry:The corporate income from manufacturing industry is RMB308.0995 million whichincreased for 5.89%comparing with the same period of prior year and the achieved total profit is RMB 31.5036million which increased for 50.38%comparing with the same period of prior year.It is primarily from profitsincrease of the polaroid business;,Trade:In the report period,The corporate income from trading industrial is RMB 321.8709 million whichincreased for 18.83%comparing with the same period of prior year and the achieved total profit is RMB 0.9626million which increased for 16.33%comparing with the same period of prior year.,The management of property:Company has lots of properties for leasing including Shenzhen textile mansionand many business shops,factory buildings,office buildings,warehouse etc.The achieved income from propertyreleasing,warehousing and hotel industry is RMB78.3044 million which increased for 9.77%comparing with the,5,same period of prior year.It is primarily because the company overcame the negative effects of the metroconstruction project,had been trying to enhance the value of property services and thus,secured steady increase ofthe leasing income.,3.Development environment,The Company is mainly engaged in the business of optoelectronic materials,textile,garment and property,management.,Based on the Display Search,which predicts that TFT-LCD industry in China Mainland will be raised to 27.3%share of the global in 2012,and will become the third largest production place of plat panel display.TFT-LCDindustry will still occupy the dominant position in the flat panel display market in the next decade.At present,allthe midsize largesize domestic TFT-LCD polarizer films are dependent on imports,so it is urgent for the panelcompanies to ask for the accomplishment of localization of the polarizer films.As one of national strategicemerging industries,Chinese TFT-LCD industry competitiveness is really improved,but needs to realize thelocalization of the key raw material to support,and it is very obvious for the government to promote the localization,of the key raw material of the TFT-LCD panel.During the reporting period,“Development Planning onRevitalization of New Materials Industry in Shenzhen(Year 2011 to 2015)”is announced,the polarizer film is,listed into the key raw and auxiliary materials that needs the support and construction in the flat panel display field,and the TFT-LCD polarizer film project of Shenbo Ophotoelectric has been listed a key project of the new materials,industry in Shenzhen.“Implementation Program on Perfection of Flat Panel Display Industry Chain in Shenzhen(Year 2011 to 2013)”clearly formulates that the scale of flat panel display industry in Shenzhen will reach to RMB,100 billion in 2013,the production capacity and technology of the advanced generation of TFT-LCD panel willcome up to an international advanced level,and a distinctive and influential flat panel industry chain will be formedthroughout the country even the global,then the supporting production capacity of the polarizer films and other raw,materials is mainly improved.In Column 5 of advanced manufacturing in“The 12th Five-Year Plan Outline forNational Economic and Social Development in Shenzhen”,TFT-LCD production using the polarizer film in SAPOPhotoelectric is listed as a priority project.The companys wide line of TFT-LCD using polarizer film(Line 4),project has gained the special funds RMB10 million supported by the strategic transformation industrialization ofthe color TV industry of National Development and Reform Committee(Shenzhen DRC Hi-tech 2011 No.1205)and the planning funds of RMB 3 million supported by 2011 government investment program of Shenzhen hi-techindustrialization demonstration project(Shenzhen DRC 2012 No.3),and the narrow line of TFT-LCD usingpolarizer film(Line 5)project has obtained the special and planning funds of RMB 5 million supported by thebiology,Internet,new energy and new materials industry development in Shenzhen and the second batch of supportprogram in 2011(Shenzhen DRC 2011 No.1782),so the polarizer film industry development has a goodprospect.Meanwhile,due to the advanced generation panel lines gathering to transfer to the mainland of China,which enhances the overseas polarizer film manufacturers to set up the post-stage processing enterprises in themainland,so,the competition in the domestic polarizer film market may be sharpened.,In 2012,due to the impact of European debt crisis,decline of the market confidence and obviously increase ofvarious uncertain factors,the economy may remains downturn in the longer term,and the company will face thepressure of the reduction of clothing order in the export market,the increase of labor costs,then the profit space onthe clothing products will be squeezed.Shenzhen Metro of Line 7 is scheduled to start the construction in 2012,andthe north-south direction road in Huaqiang North area will be constructed with segmental enclosure,which will,bring the new pressure to the companys property and hotel business.,4.Main advantages and existing difficulties,6,Shengbo Optoelectronic,a wholly-owned subsidiary of the Company,is a national high-tech enterprise and alsoan enterprise that entered the field of polarizer sheet R the project,of“Engineering Technology of TFT-LCD with Polarizer Film”has passed the acceptance of“863 Program”expert,group of the National Department of Science and Technology.Shengbo Ophotoelectric is an experiencedmanagement team and technical staff team with strong technology and international views,and provides themultiple technical supports for the projects construction.During the report period,the wide TFT production line hasbeen put into production o