02382舜宇光學科技 2011年中期报告.ppt

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1、Interim Report,2011 中期報告,）,Corporate ProfileSunny Optical Technology(Group)Company Limited(the“Company”or“Sunny Optical”,together with its subsidiaries,the“Group”)(Stock Code:2382)is a leading integrated optical components andproducts manufacturer in the Peoples Republic of China(the“PRC”or“China”).

2、The Group is principally engaged in the design,researchand development(“R&D”),manufacturing and sales of optical andoptical-related products.Such products include optical components(such as glass spherical and aspherical lenses,plates,prisms,handset lens sets,vehicle lens sets and other various lens

3、 sets),optoelectronic products(such as handset camera modules,securitycameras and other optoelectronic modules)and optical instruments(such as microscopes,optical measuring instruments and opticalanalytical instruments).We focus on the market of optoelectronicrelated products,such as handsets,digita

4、l cameras,vehicle imaging,公司簡介舜宇光學科技集團有限公司（本公司或舜宇光學，連同其附屬公司（本集團（股票代號：2382）為 一間中華人民共和國（中國）領先的綜合光學零件及產品生產商。本集團主要從事設計、研究與開發（研發）、生產及銷售光學及其相關產品。該等產品包括光學零件（例如玻璃球面或非球面鏡片、平面鏡片、棱鏡、手機鏡頭、車載鏡頭及其他各種鏡頭）、光電產品（例如手機相機模組、安防相機及其他光電模組）及光學儀器（例如顯微鏡、光學測量儀器及各種光學分析儀器）。本集團專注的市場領域為：手機、數碼相機、車載成像系統、安防監控系統、光學測量儀器及光學分析儀器等需綜合運用光學、

5、電子、機械技術的光電相關產品。,systems,security surveillance systems,optical surveying instrumentsand optical analytical instruments,which are combined with optical,electronic and mechanical technologies.Sunny Optical Technology(Group)Company Limited 舜宇光學科技（集團）有限公司/Interim Report 2011 中期報告,2,28,30,36,Contents,目錄,C

6、orporate ProfileManagement Discussion and Analysis,公司簡介管理層討論與分析,Other InformationReport on Review of Interim Financial InformationCondensed Consolidated Financial StatementsNotes to the Condensed Consolidated Financial StatementsCorporate Information,1855,其他資料中期財務資料審閱報告簡明綜合財務報表簡明綜合財務報表附註公司資料,Sunny O

7、ptical Technology(Group)Company Limited 舜宇光學科技（集團）有限公司/Interim Report 2011 中期報告,2,Management Discussion and Analysis 管理層討論與分析,The Group is a leading integrated optical components and productsmanufacturer in the Peoples Republic of China(the“PRC”or“China”).The Group is principally engaged in the desi

8、gn,researchand development(“R&D”),manufacturing and sales of optical andoptical-related products.Such products include optical components(such as glass spherical and aspherical lenses,plates,prisms,handset lens sets,vehicle lens sets and other various lens sets),optoelectronic products(such as hands

9、et camera modules,securitycameras and other optoelectronic modules)and optical instruments(such as microscopes,optical measuring instruments and opticalanalytical instruments).We focus on the market of optoelectronicrelated products,such as handsets,digital cameras,vehicleimaging systems,security su

10、rveillance systems,optical measuringinstruments and optical analytical instruments,which are combinedwith optical,electronic and mechanical technologies.Save as disclosed in this announcement,there has been no materialchange in the development or future developments of the Groupsbusiness and financi

11、al position,and no important events affectingthe Group has occurred since the publication of the annual report ofthe Company for the year ended 31 December 2010.A.FINANCIAL REVIEWRevenueThe Groups revenue for the six months ended 30 June 2011was approximately RMB1,102.7 million,representing anincrea

12、se of approximately 32.2%or approximately RMB268.7million compared with the corresponding period of the previousyear.The increase was mainly attributable to the benefitfrom business opportunities brought by the rapid growth ofsmartphones and 3G handsets and the increase in demand forconsumer DSLR.Re

13、venue generated from the optical components businesssegment increased by approximately 21.3%to approximatelyRMB494.3 million compared with the corresponding period ofthe previous year.The increase was mainly attributable to the,本集團為一間中華人民共和國（中國）領先的綜合光學零件及產品生產商。本集團主要從事設計、研究與開發（研發）、生產及銷售光學及其相關產品。該等產品包

14、括光學零件（例如玻璃球面或非球面鏡片、平面鏡片、棱鏡、手機鏡頭、車載鏡頭及其他各種鏡頭）、光電產品（例如手機相機模組、安防相機及其他光電模組）及光學儀器（例如顯微鏡、光學測量儀器及各種光學分析儀器）。本集團專注的市場領域為：手機、數碼相機、車載成像系統、安防監控系統、光學測量儀器及光學分析儀器等需綜合運用光學、電子、機械技術的光電相關產品。除本公佈所披露者外，本集團之業務及財務狀況之發展或未來發展並無出現重大變動，且自本公司刊發截至二零一零年十二月三十一日止年度之年報起亦無發生對本集團造成影響之重要事件。A.財務回顧銷售收入截 至 二 零 一 一 年 六 月 三 十 日 止 六 個 月，本集

15、團 的 收 入 約 為 人 民 幣1,102,700,000元，與去年同期比較增加約32.2%或約為人民幣268,700,000元。收入上升主要原因是受惠於智能手機與3G手機需求的快速增長，及消費型數碼單反相機的需求增長。光學零件事業的銷售收入較去年同期上升約21.3%增至約為人民幣494,300,000元。收入增長主要是由於產品結構改善，產品平均售價提升以及部份產品出貨量的增長。,improvement in product mix,the increase in average sellingprice and the considerable increase in shipment v

16、olume forcertain products.Sunny Optical Technology(Group)Company Limited 舜宇光學科技（集團）有限公司/Interim Report 2011 中期報告,3,Management Discussion and Analysis 管理層討論與分析,Revenue generated from the optoelectronic products businesssegment increased by approximately 55.1%to approximatelyRMB517.7 million compared

17、with the corresponding periodof the previous year.The increase in revenue was also mainlyattributable to the improvement in product mix and the increasein shipment volume.Revenue generated from the optical instruments businesssegment decreased by approximately 2.3%to approximatelyRMB90.7 million com

18、pared with the corresponding period of theprevious year.The decrease was mainly attributable to a specialfactor that there was a one-off bid-order from the JapaneseGovernment in the corresponding period of the previous year.Excluding this factor,revenue generated from the opticalinstruments business

19、 segment increased by approximately11.5%over the corresponding period of the previous year.Gross profit and marginThe gross profit for the first half of financial year 2011 wasapproximately RMB235.6 million,and the gross margin improvedto approximately 21.4%,which was 0.1 percentage point higherthan

20、 that of the corresponding period of the previous year.Thiswas mainly attributable to the improvement in product mix,higher capacity utilization rate of certain products as well asthe effective implementation of“Lean Production”.The grossmargin of optical components business segment,optoelectronicpr

21、oducts business segment and optical instruments businesssegment were approximately 23.2%,14.2%and 35.9%respectively(the corresponding period of 2010:22.3%,12.0%and 39.2%respectively).Selling and distribution expensesFor the six months ended 30 June 2011,selling and distributionexpenses increased by

22、approximately 25.7%or approximatelyRMB5.3 million to approximately RMB25.9 million for the periodunder review,accounting for approximately 2.4%of the Groupsrevenue,which was 0.1 percentage point lower than that ofthe corresponding period of the previous year.The increasein absolute value was primari

23、ly due to the increase in costs of,光電產品事業的銷售收入較去年同期上升約55.1%增至約為人民幣517,700,000元。收入增長主要是由於產品結構改善及出貨量上升。光學儀器事業的銷售收入較去年同期下降約2.3%減至約為人民幣90,700,000元。收入下降的原因主要是去年同期有日本政府的一次性標單的特殊因素。扣除標單因素，與去年同期相比上升約11.5%。毛利及毛利率二零一一年上半年財政年度的毛利約為人民幣235,600,000元，毛利率約為21.4%，較去年同期上升0.1個百分點，主要是由於產品結構改善，部份產品的產能利用率的提升，及加之有效推行精益生產所

24、致。其中光學零件 事 業 的 毛 利 率 約 為23.2%（二 零 一 零 年 同期：約為22.3%），光電產品事業的毛利率約為14.2%（二零一零年同期：約為12.0%）及光學儀器事業的毛利率約為35.9%（二零一零年同期：約為39.2%）。銷售及分銷費用截至二零一一年六月三十日止六個月銷售 及 分 銷 費 用 增 加 約25.7%或 約 為 人 民 幣5,300,000元，增 至 回 顧 期 內 約 為 人 民 幣25,900,000元，佔本集團收入約2.4%，其比例較去年同期下降0.1個百分點。絕對值的增加，主要由於營銷活動增加導致相關銷售、市場推廣及分銷人員成本增加。,selling,

25、marketing and distribution personnel arising from thegrowth in sales activities.Sunny Optical Technology(Group)Company Limited 舜宇光學科技（集團）有限公司/Interim Report 2011 中期報告,4,Management Discussion and Analysis 管理層討論與分析,R&D expenditureR&D expenditure,which was kept under effective control toaccount for app

26、roximately 4.7%of the Groups revenue duringthe period under review,increased from approximately RMB45.5million for the six months ended 30 June 2010 to approximatelyRMB51.7 million for the corresponding period of 2011.Theincrease was attributable to the continuous investment in R&Dactivities and bus

27、iness development,including the researchand development of high resolution handset lens sets andcamera modules,vehicle lens sets,infrared products,securitysurveillance systems,mid-to high-end optical instruments andthe R&D upgrading of existing product categories.Administrative expensesAdministrativ

28、e expenses,which reduced to account forapproximately 5.7%of the Groups revenue which was 1.4percentage points lower than that of the correspondingperiod of the previous year,increased from approximatelyRMB49.8 million during the six months ended 30 June 2010to approximately RMB63.1 million for the c

29、orresponding periodof 2011,representing an increase of approximately 26.9%.The increase in overall expenses was mainly attributable to theincrease in the headcount of administrative staff,the increasein remuneration,the grant of Restricted Shares and thecorresponding increase in relevant fringe bene

30、fits.Income tax expenseIncome tax charge for the six months ended 30 June 2011increased to approximately RMB22.7 million from approximatelyRMB16.0 million for the corresponding period of 2010.Suchincrease was mainly due to an increase in profits.The Groupseffective tax rate was approximately 20.6%fo

31、r the first halfof the year and 24.2%for the corresponding period of theprevious year.In order to keep the effective tax rate steady inthe future,the Group has successfully applied for the status ofhi-tech enterprises for several PRC subsidiaries.The income taxrate applicable to hi-tech enterprises

32、is 15%according to thenational policy.Sunny Optical Technology(Group)Company Limited 舜宇光學科技（集團）有限公司/Interim Report 2011 中期報告,研發費用研發費用由截至二零一零年六月三十日止六個月期間的約為人民幣45,500,000元升至二零一一年同期的約為人民幣51,700,000元，於 回 顧 期 內 佔 本 集 團 收 入 約4.7%，所 佔 比例得到有效控制。有關增長乃本集團繼續投放資金於研發項目及業務發展所致。主要用於研發高像素手機鏡頭及照相模組、車載鏡頭、紅外產品、安防監控系統、

33、中高階光學儀器及原有產品種類的升級研發。行政費用行政費用由截至二零一零年六月三十日止六個月期間的約為人民幣49,800,000元增至二零一一年同期的約為人民幣63,100,000元，增加約26.9%，於回顧期內佔本集團收入約5.7%，所佔比例較去年同期下降1.4個百分點。總體費用上升的主要原因為行政員工數量及薪資的上升，限制性股份的授出及相關福利成本相應提高所致。所得稅開支所得稅開支由截至二零一零年六月三十日止年度期間約人民幣16,000,000元增加到二零一一年同期的約為人民幣22,700,000元。增加的主要原因為盈利的擴大。於上半年內，本集團的有效稅率約為20.6%，去年同期約為24.2

34、%。目前本集團為使有效稅率在未來保持穩定，多家中國附屬公司成功申請成為高新技術企業。依國家政策，高新技術企業的所得稅率為15%。,#,#,N/A,*,*,#,#,5,Management Discussion and Analysis 管理層討論與分析,Tax rates applicable to the Groups subsidiaries in the PRC areshown as follows:,下表顯示本集團各中國附屬公司的適用稅率：,2010二零一零年,2011二零一一年,2012二零一二年,2013二零一三年,*Zhejiang Sunny Optics Co.,Ltd.(

35、“Sunny Optics”),*浙江舜宇光學有限公司（舜宇浙江光學）,15.0%,15.0%,15.0%,15.0%,*Ningbo Sunny Instruments Co.,Ltd.(“Sunny Instruments”),*寧波舜宇儀器有限公司（舜宇儀器）,15.0%,15.0%,15.0%,15.0%,*Sunny Optics(Zhongshan)Co.,Ltd.(“Sunny Zhongshan Optics”),*舜宇光學（中山）有限公司（舜宇中山光學）,12.5%,12.5%,15.0%,15.0%,*Ningbo Sunny Opotech Co.,Ltd.(“Sunny

36、 Opotech”),*寧波舜宇光電信息有限公司（舜宇光電）,12.5%,15.0%,15.0%,15.0%,Ningbo Sunny Infrared TechnologiesCompany Ltd.(“Sunny Infrared”),寧波舜宇紅外技術有限公司（舜宇紅外光學）,25.0%,25.0%,25.0%,25.0%,Shanghai Sunny Hengping ScientificInstrument Co.,Ltd.(“Sunny Hengping”),上海舜宇恒平科學儀器有限公司（舜宇恒平儀器）,15.0%,15.0%,15.0%,15.0%,Ningbo Sunny Aut

37、omotive Optech Co.,Ltd.(“Sunny Automotive Optech”),寧波舜宇車載光學技術有限公司（舜宇車載光學）,25.0%,25.0%,25.0%,25.0%,Suzhou Shun Xin Instruments Co.,Ltd.(“Suzhou Shun Xin Instruments”),蘇州舜新儀器有限公司（蘇州舜新儀器）,25.0%,25.0%,25.0%,25.0%,Jiangsu Sunny Medical Instruments Co.,Ltd.(“Sunny Medical”),江蘇舜宇醫療器械有限公司（舜宇江蘇醫療）,25.0%,25.0

38、%,25.0%,25.0%,Sunny Optics(Tianjin)Co.,Ltd.(“Sunny Tianjin Optics”),舜科光學（天津）有限公司（天津舜科）,25.0%,25.0%,25.0%,25.0%,Hangzhou Sunny Security TechnologyCo.,Ltd.(“Sunny Security”),杭州舜宇安防技術有限公司（舜宇安防）,25.0%,25.0%,25.0%,25.0%,Xinyang Sunny Optics Co.,Ltd.(“Sunny Xinyang”),信陽舜宇光學有限公司（舜宇信陽）,不適用,25.0%,25.0%,25.0%

39、,Companies recognized as hi-tech enterprises prior to the balancesheet dateThe Company was in the process of applying for a renewal of thequalification as a hi-tech enterprise as of 30 June 2011.,在資產負債表日前已獲認可為高新技術企業的公司。於二零一一年六月三十日，本公司正申請高新技術企業資格續期。,Sunny Optical Technology(Group)Company Limited 舜宇光學

40、科技（集團）有限公司/Interim Report 2011 中期報告,6,Management Discussion and Analysis 管理層討論與分析,Profit for the Period and MarginProfit for the period increased by approximately 74.9%fromapproximately RMB50.1 million for the six months ended 30June 2010 to approximately RMB87.6 million for the sameperiod of 2011.T

41、he increase in net profit was mainly due tothe increase in gross profit and effective control in operatingexpenses.The net profit margin was approximately 7.9%.Profit Attributable to Owners of the CompanyProfit attributable to owners of the Company amounted toapproximately RMB91.5 million,representi

42、ng an increaseof approximately RMB36.7 million or approximately 67.0%as compared with approximately RMB54.8 million for thecorresponding period of last year.Interim DividendFor the year ended 31 December 2010,the dividend proposedby the Board was approximately RMB0.0435(equivalent toHK$0.051)per sha

43、re,with payout ratio of approximately 30.2%of the profit attributable to Owners of the Company for the year.Such dividend was paid to shareholders in May 2011.The Board does not recommend the payment of any interimdividend for the six months ended 30 June 2011(correspondingperiod of 2010:nil).Sunny

44、Optical Technology(Group)Company Limited 舜宇光學科技（集團）有限公司/Interim Report 2011 中期報告,本期溢利及利潤率期內溢利由截至二零一零年六月三十日止六個月約為人民幣50,100,000元增加約74.9%至二零一一年約人民幣87,600,000元。純利的增加主要是因為毛利上升及營運費用的有效管控，純利率則約為7.9%。本公司股東應佔溢利本公司股東應佔溢利約為人民幣91,500,000元，較去年同期的約為人民幣54,800,000元增加約為人民幣36,700,000元或約67.0%。中期股息截 至 二 零 一 零 年 十 二 月 三

45、 十 一 日 止 年 度，董事會建議派發每股約人民幣0.0435元（為0.051港元）的股息，支付比例約為本公司股東應佔當年溢利的30.2%，並且已於二零一一年五月派付。截至二零一一年六月三十日止六個月，董事會建議不派發任何中期股息（二零一零年同期：無）。,7,Management Discussion and Analysis 管理層討論與分析,B.BUSINESS REVIEWIn the first half of 2011,demand for consumer goods revivedgradually along with the modest recovery in the g

46、lobal economy.Although the global consumer electronic market was hit tosome extent by the earthquake that struck northeastern Japanin March,thanks to the recovery in production ability of themanufacturers in the disaster-stricken area that was better thanexpected,the overall market recovered gradual

47、ly within a fewmonths after the calamity.So far as the Group is concerned,up to the publication date of this interim results,the earthquakein Japan has not caused any significant impact on the Groupdirectly.This was mainly due to the fact that neither the mainproduction areas of the Groups Japanese

48、customers nor theraw material suppliers are situated in the main earthquake-stricken area,and the Group had sufficient inventories.During the period under review,smartphones,3G mobilephones and Digital Single Lens Reflex(“DSLR”)camerasin the consumer electronic market saw a lively market andthus rec

49、orded a satisfactory growth.In the first half of 2011,global shipments of smartphones and DSLR camera wereapproximately 200 million units(source:IDC)and approximately6.75 million units(source:CIPA)respectively.During the period under review,the Group continued to followthe guidelines of“Speed Up Tra

50、nsformation and Upgrade”issued by the Board,by actively penetrating into new markets,improving internal management standards and strengtheningthe development of products and technologies continuously.During the period under review,all our initiatives achievedtheir intended effects.All of the Groups