长飞光纤光缆年报2023

2Corporate Profile3Financial Highlights7Chairman’s Statement9President’s Statement13Major Products and Solutions15Key Milestones in 2023202316Management Discussion and Analysis32Directors’, Supervisors’ and Senior Management’s Profiles47Report of the Board of Directors63Corporate Governance Report113Report of the Board of Supervisors115Auditor’s Report124Consolidated Balance Sheet127Balance Sheet130Consolidated Income Statement132Income Statement134Consolidated Statement of Cash Flow137Statement of Cash Flow139Consolidated Statement of Changes in Shareholders’ Equity141Statement of Changes in Shareholders’ Equity143Notes to the Financial Statements391Corporate Information393Definitions and Glossary of Technical Terms CONTENTS 90 Yangtze Optical Fibre and Cable Joint Stock Limited Company* is a globalleading supplier of optical fibre preforms, optical fibres, optical fibre cables andother relevant products in telecommunication industry. The Company primarilymanufactures and sells optical fibre preforms, optical fibres, optical fibre cables,optical components and modules and other relevant products with variousstandard specifications that are widely used in the telecommunications industry.The Company also designs and produces specialty optical fibres and cables,integration systems, engineering design and service that are customised tocustomers’ specifications. The Company has comprehensive product portfoliosand provides a wide range of products with relevant solutions for the globaltelecommunications industry and other sectors, including utilities, transportation,petrochemical and healthcare. The Company provides high-quality productsand services in more than 90 countries and regions. 479,592,5981.00Draka The Company, formerly known as Yangtze Optical Fibre and Cable CompanyLtd.* was established in Wuhan, Hubei Province in May 1988 as a sino-foreignequity joint venture. On 27 December 2013, the Company was convertedinto a foreign invested joint stock limited liability company, and was renamedas Yangtze Optical Fibre and Cable Joint Stock Limited Company*. On thesame date, the Company’s equity was converted into 479,592,598 ordinaryshares with a par value of RMB1.00 each. The substantial shareholders of theCompany include China Huaxin, Draka and Yangtze Communications. HHH7.39159,870,0001.00H The Company’s H shares were listed on the Main Board of The StockExchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) on 10December 2014. On the same date, the Company issued a total number of159,870,000 H shares with a par value of RMB1.00 each at a price of HK$7.39per H share by way of public offering of the Company’s H shares to HongKong and overseas investors. HH7.1542,652,000H1.00 On 18 December 2015, the Company completed the issuance of domesticshares and H shares to certain directors and selected employees and theprivate placement of H shares to four independent professional institutionalinvestors. A total number of 42,652,000 shares (including H shares anddomestic shares) with a par value of RMB1.00 each were issued at asubscription price of HK$7.15 per share. AA75,790,510AA26.71330,547,804AA757,905,108351,566,794H406,338,314AA2,024,364,5221,894,337,174 The China Securities Regulatory Commission approved the initial publicoffering of A shares by the Company and the A shares of the Company werelisted on the Shanghai Stock Exchange on 20 July 2018. The Company issued75,790,510 A shares to the public at the issue price of RMB26.71 per A shareand 330,547,804 domestic shares were converted into A shares. Upon theissue of A shares, the total number of issued shares of the Company became757,905,108 shares (comprising 351,566,794 H shares and 406,338,314 Ashares). The total proceeds from the issue of the A shares amounted toRMB2,024,364,522 and the net proceeds (after deducting issue expenses)amounted to RMB1,894,337,174. For the year ended 31 December 2023, the Group’s operating results were asfollows: •Total revenue was approximately RMB13,352.8 million, decreased byapproximately 3.5%.•Gross profit and gross profit margin were approximately RMB3,272.0million and 24.5%, respectively.•Profit for the year attributable to equity shareholders of the Company wasapproximately RMB1,297.4 million, increased by approximately 11.2%.•The Group’s revenue from domestic business decreased by approximately1.9%, when compared with the prior year. The Group’s overseas revenuedecreased by approximately 6.5%, when compared with the prior year.•The Board recommended the payment of a final dividend of RMB0.514per share (before tax) for the year ended 31 December 2023. •13,352.83.5% Financial Highlights Financial Highlights (1)100% (1)Calculated using the profit for the year divided by average total equity onan annualised basis, multiplied by 100%. (2)365 (2)Average trade and bills receivables turnover days are based on theaverage balance of trade and bills receivables divided by revenue for therelevant year and