长飞光纤光缆年报2024

2Corporate Profile3Financial Highlights7Chairman’s Statement9President’s Statement13Major Products and Solutions15Key Milestones in 2024202416Management Discussion and Analysis32Directors’, Supervisors’ and Senior Management’s Profiles44Report of the Board of Directors59Corporate Governance Report110Report of the Board of Supervisors112Auditor’s Report121Consolidated Balance Sheet124Balance Sheet127Consolidated Income Statement129Income Statement131Consolidated Statement of Cash Flow134Statement of Cash Flow136Consolidated Statement of Changes in Shareholders’ Equity138Statement of Changes in Shareholders’ Equity140Notes to the Financial Statements387Corporate Information389Definitions and Glossary of Technical Terms CONTENTS 100 Yangtze Optical Fibre and Cable Joint Stock Limited Company* is a globalleading supplier of optical fibre preforms, optical fibres, optical fibre cablesand other relevant products in telecommunication industry. The Companyprimarily manufactures and sells optical fibre preforms, optical fibres, opticalfibre cables, optical components and modules and other relevant products withvarious standard specifications that are widely used in the telecommunicationsindustry. The Company also designs and produces specialty optical fibres andcables, integration systems, engineering design and service that are customisedto customers’ specifications. The Company has comprehensive productportfolios and provides a wide range of products with relevant solutions forthe global telecommunications industry and other sectors, including utilities,transportation, petrochemical and healthcare. The Company provides high-quality products and services in more than 100 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 2024, the Group’s operating results were asfollows: •12,197.48.7% •Total revenue was approximately RMB12,197.4 million, decreased byapproximately 8.7%.•Gross profit and gross profit margin were approximately RMB3,330.1million and 27.3%, respectively.•Profit for the year attributable to equity shareholders of the Companywas approximately RMB675.9 million, decreased by approximately 47.9%.•The Group’s revenue from domestic business decreased by approximately10.4%, when compared with the prior year. The Group’s overseasrevenue decreased by approximately 5.1%, when compared with the prioryear.•The Board recommended the payment of a final dividend of RMB0.268per share (before tax) for the year ended 31 December 2024. •0.268 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(3)365(4)365(5) (2)Average trade and bills receivables turnover days are based on theaverage balance of trade and bills receivables divided by revenue