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Shenzhen Xinwei Communication Co., LTD
Shenzhen Xinwei Communication Co., LTD
Shenzhen Xinwei Communication Co., LTD
Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
Section Important, catalogs and Interpretation
The company’s board of directors, board of supervisors, directors, supervisors, and senior management ensure that the conten
True, accurate and complete, there are no false records, misleading statements or major omissions,
Legal liability
The person in charge Peng Hao, Chief Financial Officer Mao Dadong and accounting department ( accounting manager
Personnel ) Wang Li declares: guarantee the truthfulness, accuracy and completeness of the financial report in the annual report.
All directors have attended the board meeting for reviewing this report.
The company faces risks such as external economic fluctuations, industry development changes, and exchange rate fluctuatio
Investors pay attention to investment risks. For details, please refer to the " Discussion and Analysis of Business Conditions " sect
The company’s profit distribution plan approved by the board of directors this time is: based on 968,639,966 ,
All shareholders will distribute a cash dividend of RMB 0.5 (tax included) for every 10 shares , and 0 shares of bonus shares (tax i
The provident fund transfers 0 shares to all shareholders for every 10 shares.
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
table of Contents
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
Paraphrase
The company, company, Xinwei Communication Refers to Shenzhen Xinwei Communication Co., Ltd.
Xinwei Innovation Technology (Beijing) Refers to Weichuang Technology Communication Technology (Beijing) Co., Ltd.
Jingxin Tongfeng Refers to Shenzhen Jingxin Tongfeng Communication Technology Co., Ltd.
Deqing Huaying Refers to China Electronics Technology Deqing Huaying Electronics Co., Ltd.
MIMO technology Refers to Multiple-Input Mutiple-Output technology, antenna technology for multiple receiving and multiple transmission
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
1. Company Information
The foreign name of the company (if any) Shenzhen Sunway Communication Co., Ltd.
Registered address Building AB, No. 1013, Xihuan Road, Shajing Street, Baoan District, Shenzhen
office address Building AB, No. 1013, Xihuan Road, Shajing Street, Baoan District, Shenzhen
email ir@sz-sunway.com
Dong, 2nd Floor, North Block, Building A, SD Information Port Building, No. 2 Kefeng Road, Nanshan District, Shenzhen
Place where the company's annual report is prepared
Board office
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
Accounting firm name Lixin Certified Public Accountants (Special General Partnership)
Office address of accounting firm 4th Floor, No. 61 Nanjing East Road, Huangpu District, Shanghai
Sponsor institutions engaged by the company to perform continuous supervision duties during the reporting period
A financial consultant engaged by the company to perform continuous supervision duties during the reporting period
Does the company need to retrospectively adjust or restate the accounting data of previous years
□ Yes √ No
2019 year 2018 year Increase or decrease this year from 2017
the previous year
unit: yuan
the first season Second quarter the third quater Fourth quarter
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
Deductions attributable to shareholders of listed companies
226,014,508.63 60,662,504.21 456,348,465.45 182,869,541.07
Net profit
Net cash flow from operating activities 40,679,524.31 100,681,724.15 183,804,398.94 352,286,398.37
Whether the above financial indicators or their totals are significantly different from the company’s disclosed quarterly and semi-annual reports related financial indicators
□ Yes √ No
1. Differences in net profit and net assets in financial reports disclosed in accordance with both international accounting standards and Chinese accounting standards
During the reporting period of the company, there was no difference between the net profit and net assets in the financial reports disclosed in accordance with international accounting standards and Chinese accounting standar
2. Differences in net profit and net assets in financial reports disclosed in accordance with overseas accounting standards and Chinese accounting standards at the same time
During the reporting period, there was no difference in net profit and net assets in the financial reports disclosed in accordance with overseas accounting standards and Chinese accounting standards.
unit: yuan
Non-current assets disposal gains and losses (including accrued assets minus
-2,062,742.64 -1,634,953.92 387,292.17
Offset part of value preparation)
Government subsidies included in the current profit and loss (closed to corporate business
All relevant, according to the national unified standard for fixed or quantitative sharing 14,814,883.05
116,259,807.02 345,744,920.66
Except for government subsidies received)
Except for effective hedging related to the company’s normal business operations
Gains and losses arising from changes in fair value, and disposal 4,875,000.00
transactions 600,317.63 883,742.47
Financial assets, derivative financial assets, transactional finance
Investment income
Receivables and contract assets that are individually tested for impairment
20,000,000.00
Reversal of impairment provision
Other non-operating income and expenses other than the above -958,228.17 -2,963,125.18 -4,354,821.61
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
For the company’s non-recurring profit and loss items defined in the "Explanatory Announcement No. 1 on Information Disclosure of Companies Publicly Issuing Securities-Non-recurring Profit and Loss", and the
Development Bank Securities’ Corporate Information Disclosure Explanatory Announcement No. 1-Non-recurring Gains and Losses The non-recurring gains and losses listed in
During the reporting period, the company does not have non-recurring gains and losses that will be defined and listed in accordance with the "Explanatory Announcement No. 1 on Information Disclosure of Companies Public
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
EMI\EMC devices, RF connectors, audio/RF modules, etc., products can be widely used in mobile terminals, base stations and automobiles.
Through independent research and development, investment and mergers and acquisitions, the company cooperates with well-known domestic and foreign universities and scientific res
The research of materials, from materials-parts-modules, to provide customers with one-stop pan-RF solutions in an all-round way, maintaining the industry in the field of RF technology
leading position.
Equity assets There were no major changes during the reporting period.
The ending balance of fixed assets increased by 98.87% compared with the beginning of the period, which was mainly due to the construction
Fixed assets
And the newly-added equipment of the expansion plant reaches the predetermined usable state and turns into fixed assets.
Intangible assets There were no major changes during the reporting period.
The ending balance of construction in progress decreased by 12.72% compared with the beginning of the period, which was mainly due to the part of the new plant and
Construction in progress
And the newly-added equipment in the expansion plant has reached the expected usable state and turned into fixed assets.
The ending balance of monetary funds decreased by 52.59% from the beginning of the period, mainly due to the
Money funds
The company’s new plant investment expenditures and control of loan scale at the end of the year.
The ending balance of other current assets increased by 55.11% compared with the beginning of the period, mainly due to the increase in the expected amortization of mold
Other current assets
To.
The ending balance of long-term deferred expenses increased by 133.91% from the beginning of the period, mainly due to the company’s new project automation equipment
Long-term prepaid expenses
Due to increased investment.
The ending balance of other non-current assets increased by 49.30% compared with the beginning of the period, mainly because the company prepaid equipment for new pro
Other non-current assets
Due to the increase in purchases.
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
The company has always focused on the main business of radio frequency, and continued to deepen its work. It is based on customer satisfaction, result-oriented, pursuit of the ultimate,
Under the guidance of core values, the company's sustainability has been realized through years of good cooperative relations with customers and continuous new business development.
development of. With the expansion of the company's business scale, the company continues to strengthen its core competitiveness moat, which is mainly reflected in the following points:
1. Continuously innovative technology research and development capabilities
Company mission: Committed to creating trustworthy innovative products and solutions through the research of basic materials and basic technologies,
Our customers create value.
In order to better stay close to the market and meet customer product needs, the company has always attached great importance to technological research and development and advocate
The company has established a research and development platform with pan-RF technology as the core at home and abroad, and has built a research and development platform based on the A
Shenzhen, Changzhou, Beijing, Shanghai, etc. have a comprehensive R&D system with multiple technology research centers, and continue to deepen the cooperation with key research institu
Strategic cooperation in the future to form comprehensive technological advantages.
The company continues to maintain high R&D investment. In 2019, R&D investment accounted for 8.9% of revenue, especially research on basic materials and basic technologies.
And it has made a lot of technical investment in 5G antenna systems, radio frequency front-ends and other fields, including various antennas based on LCP and MPI, and Sub-6Ghz 5G
MIMO antennas, functional antenna modules, 5G millimeter wave antenna modules, and RF front-end devices. The company provides customers with customization and high added value
Innovative products, continue to maintain the technical position in the industry; continue to introduce high-end technical talents, enhance independent innovation capabilities, and help the com
Lay the foundation for rapid growth.
2. Have the qualification of testing and certification of international professional institutions
The company has a testing and certification laboratory with national CNAS and international CTIA certification, and Guangdong LCP 5G RF system engineering technology research
The research center and Shenzhen 5G millimeter wave antenna technology engineering laboratory, the company's testing capabilities have reached the international leading level.
In 2019, the company was awarded the "Shenzhen New Generation Information Technology Enterprise Technology Center" by the Shenzhen Municipal Bureau of Industry and Informa
Another key engineering laboratory project supported by the government. The company is a member of CTIA, the world’s most
One of two Chinese enterprise members in the authoritative wireless communication industry and mobile ecosystem association. In addition, the company is the world’s top Center for
Member of Electromagnetic Compatibility (Electromagnetic Compatibility Research Center), and only two Chinese companies in the world selected as members of the Center
one.
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
I. Overview
2019 is a year for the company’s strategic positioning of “enabling and re-growth”. The company’s management insists on being
Frequency is the main business, with a gross profit margin of 37.35% and a return on net assets of 24.28%. The operating quality has maintained a relatively high level and the company’s per
During the reporting period, the realized total operating income was 5,134,041,894.14 yuan, an increase of 9.07% over the same period last year; the total profit was 1,170,639,021.17 yuan,
An increase of 3.75% over the same period last year; the net profit attributable to shareholders of listed companies was 1,019,890,543.35 yuan, an increase of 3.25% over the same period last
Actively eliminated some product lines with low strategic synergy, but with the efforts of all Xinwei people, the company's revenue and net profit have maintained growth for 6 consecutive ye
In terms of R&D investment, the company's overall R&D investment accounted for 8.9% of revenue in 2019. As of the end of this reporting period, the company has applied for 5G
Antennas, wireless charging, LCP modules and other related patents, a total of 1,138 patents have been applied; according to a report issued by French research institute Yole in April 2019
According to the report, the number of 5G antenna patents granted by the company in China ranks first, and the number of 5G antenna patents granted globally ranks third;
The company established the North American Research Institute, responsible for the company’s 5G and 6G radio frequency materials, radio frequency technology, and radio frequency modul
Continue to lead and lay the technical foundation; the company is a member of CTIA, the most authoritative wireless communication industry in the world
And one of the two Chinese corporate members in the Mobile Ecosystem Association, and other well-known companies in the industry to jointly develop relevant standards, and actively unde
The role of technical consultants contributes Xinwei’s wisdom to the development of the wireless communications industry.
In terms of business development, the company’s product layout is clear, and some businesses have been selected. The main focus is on technical added value and
On products with higher strategic synergy. For example, the company's 5G antennas, wireless charging, LCP radio frequency devices, radio frequency front-end devices, high-performance pre
Many important product lines such as connectors, 5G base station antennas and key antenna components have achieved breakthroughs. Among them, 5G antennas, LCP radio frequency devic
After providing solutions for customers and achieving mass shipments; the wireless charging business has achieved product coverage of the world’s top three mobile phone customers, and the
After two years of hard work, we have become the world's number one wireless charging solution provider; the high-performance precision BTB connector business has been shipped in batch
The breakthrough of Chinese suppliers to domestic and foreign mainstream brand terminal manufacturers, and the technological level has reached the international lead.
In terms of capacity expansion, the company has completed the construction of important production bases in Changzhou, Jiangsu and Vietnam, and some of the production capacity is b
The company's future business development provides sufficient capacity guarantee.
In terms of team building, the company has increased the introduction and incentives of core talents, attracting global RF experts and engineers to join the company;
The company implemented the new option incentive plan, successfully achieved the incentive assessment target in 2019, and continued to promote the construction of partner culture.
1. Overview
unit: yuan
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
sector
By product
By area
( 2 ) The industry, product or region that accounts for more than 10% of the company’s operating income or operating profit
unit: yuan
sector
By product
By area
When the statistical caliber of the company's main business data is adjusted during the reporting period, the company's main business data adjusted according to the end of the reporting period in the most recent year
( 3 ) Whether the company's physical sales income is greater than the labor income
√ Yes □ No
Category project unit 2019 year 2018 year Year-on-year increase and decrease
Explanation of the reasons why relevant data has changed by more than 30% year-on-year
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
( 4 ) Implementation of major sales contracts signed by the company as of the reporting period
product category
unit: yuan
2019 year 2018 year
product category project Year-on-year increase and decrease
Amount Proportion of operating cost Amount Proportion of operating cost
Description
( 6 ) Whether the consolidation scope has changed during the reporting period
√ Yes □ No
On January 10, 2019, the company established Jiangsu Xinwei Intelligent Automobile Interconnection Technology Co., Ltd. with natural persons Tang Yanmin and Li Gan. The company holds 68% of the shares. Tang Yanmin
The shareholding ratio is 22%, and Li Gan's shareholding ratio is 10%, which was included in the scope of the consolidated statement during the reporting period.
The wholly-owned subsidiary Hong Kong Xinwei Communication Co., Ltd. established SUNWAY COMMUNICATION VIET NAM COMPANY LIMITED with 100% shareholding ratio.
( 7 ) Major changes or adjustments to the company’s business, products or services during the reporting period
The total sales amount of the top five customers accounted for the proportion of total annual sales 42.43%
Among the top five customer sales, the sales of related parties accounted for the total annual sales ratio
0.00%
example
Serial number client's name Sales (yuan) Percentage of total annual sales
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
The total purchase amount of the top five suppliers (yuan) 519,517,512.77
The proportion of the total purchase amount of the top five suppliers in the total annual purchase 20.56%
Among the top five suppliers, the purchase amount of related parties accounts for the total annual purchase amount
0.00%
proportion
Serial number Supplier name Purchase amount (yuan) Percentage of total annual purchases
3. Expenses
unit: yuan
2019 year 2018 year Year-on-year increase and decreaseExplanation of major changes
Mainly the company’s international sales talent ladder during the reporting period
sales expense 118,009,072.56 69,514,473.26 69.76% Increased labor costs for team construction and increased freight transportation costs
Add cause.
Mainly due to the expansion of the company’s scale during the reporting period,
Management fees 205,861,023.81 142,317,021.22 44.65%
Hiring management talents, management costs increase.
Financial expenses 64,471,760.08 45,562,858.31 41.50% was mainly due to the increase in bank loans during the reporting period.
R&D expenses 429,683,750.08 278,552,360.65 54.26% R&D investment in materials and new technologies has increased, including
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
4. R&D investment
The company has always attached great importance to R&D investment and technological innovation. It has not only the Academia Sinica, which is coordinating the overall situation, bu
China and domestic R&D branches in Shenzhen, Changzhou, Beijing, Shanghai and other places, as well as Guangdong LCP 5G RF System Engineering Technology Research Center,
Shenzhen 5G millimeter wave antenna technology engineering laboratory and Shenzhen new generation information technology enterprise technology center.
During the reporting period, the company invested 456,814,142.02 yuan in research and development, accounting for 8.90% of operating income. The company's investment in R&D tec
It continues to rise. In the past three years, the company has invested about 917 million yuan in R&D, which has helped the company maintain its leading position in the industry and continue
Long provides strong technical support. In the future, the company will continue to increase research on basic materials and basic technologies, and the proportion of R&D expenses will rema
Above 8%. During the reporting period, the company applied for 5G antennas, wireless charging, LCP modules and other related patents, such as 5G broadband millimeters based on LCP ma
Meter wave antenna array, dual-frequency dual-polarization MIMO antenna system and mobile terminal used in 5G communication, broadband multi-resonant 5G antenna system and base sta
A total of 216 patents have been applied for, including 60 invention patents; the company has obtained 253 patent authorizations. As of the end of the reporting period, the company has applie
item.
The company's R&D investment in the past three years and its percentage of operating income
Reasons for the significant change in the proportion of total R&D investment in operating income from the previous year
Reasons for the substantial change in the capitalization rate of R&D investment and its rationality
5. Cash flow
unit: yuan
15
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
Explanation of the main influencing factors of significant year-on-year changes in relevant data
During the reporting period, the net cash flow from investment activities increased by 39.83% over the same period of the previous year, mainly due to the
And the company's investment in production and R&D equipment decreased compared with the same period last year.
During the reporting period, the net cash flow from financing activities decreased by 114.89% compared with the same period of the previous year, mainly due to the company's investment in
Sexual cash outflow decreased, and financing needs decreased compared with the same period last year.
Explanation of the reason for the significant difference between the company’s net cash flow generated from operating activities during the reporting period and the net profit of the year
Mainly due to the expansion of the company’s sales scale during the reporting period, the peak sales season began in the third quarter, material and labor input increased significantly, and labo
The payment period for the purchase of goods is shorter than the period for the collection of the sales payment, resulting in the net cash flow generated by the company’s
There is a time difference in net profit, which is a manifestation of normal business operations.
unit: yuan
Mainly due to the decline in inventory provision during the reporting period
Asset impairment -20,787,770.15 -1.78% no
price.
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
The company has implemented the new financial instrument standards, new revenue standards or new lease standards for the first time since 2019, and adjusted and implemented relevant items in the financial statements at the
unit: yuan
2,785,394,295. 2,196,540,295.
accounts receivable 33.28% 30.44% 2.84% No major changes.
57 60
608,903,767.9
stock 7.28% 535,060,161.79 7.41% -0.13% No major changes.
8
124,898,192.1
Long-term equity investment 1.49% 117,395,091.75 1.63% -0.14% No major changes.
0
Mainly the new department of Jiangsu subsidiary during the reporting period
1,542,549,735.
Fixed assets 18.43% 775,666,337.79 10.75% 7.68% Sub-plant and expansion of new equipment reached the schedule
67
The usable status is converted to fixed assets.
733,667,926.1
Construction in progress 8.77% 840,615,046.55 11.65% -2.88% No major changes.
9
888,439,075.4
short-term loan 10.62% 715,896,000.00 9.92% 0.70% No major changes.
4
Mainly long-term loans due within one year of the reporting period
816,529,292.7 1,357,230,017.
Long term loan 9.76% 18.81% -9.05% Reclassified to non-current negative due within 1 year
8 63
debt.
Mainly due to the increase in capitalized R&D investment during the reporting period
Development expenditure
39,676,836.78 0.47% 12,546,444.84 0.17% 0.30%
Caused by.
185,311,016.9 Mainly the company’s new project automation design during the reporting period
Long-term prepaid expenses 2.21% 79,222,986.03 1.10% 1.11%
0 Due to the increase in equipment investment.
150,728,361.7 Mainly because the company prepaid for new projects during the reporting period
Other non-current assets 1.80% 100,954,382.22 1.40% 0.40%
6 Due to the increase in provision for purchases.
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
Mainly prepaid quarterly corporate income tax during the reporting period
Taxes payable 27,057,175.24 0.32% 89,165,461.77 1.24% -0.92%
Due to changes.
Mainly long-term loans due within one year of the reporting period
Non- 555,396,000.0
6.64% 99,584,266.80 1.38% 5.26% Reclassified to non-current negative due within 1 year
Current liabilities 0
debt.
Tired in equity
Current fair price Withdrawal for the current period Current sale gold
project Opening number Change in fair value Purchase amount for this period Other changes Ending number
Value change gains and losses Impairment of amount
move
monetary assets
1. Transactional gold
Financing property (not
27,579,486.9
4,875,000.00 1,155,857.97 33,610,344.93
Including derivative finance 6
assets)
27,579,486.9
Total of the above 4,875,000.00 1,155,857.97 33,610,344.93
6
Other changes
no
During the reporting period, whether the measurement attributes of the company’s main assets have changed significantly
□ Yes √ No
project Book value at the end of the period Reason for restriction
Money funds 4,743,185.25 Foreign exchange business margin
Money funds 210,000.00 Electricity deposit
total 4,953,185.25
1. Overall situation
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
unit: yuan
Tired in equity
Initial investment
Current fair price Purchased during the
Sales
reporting
duringperiod
the Cumulative
reporting period
investment income
Asset Class Change in fair value Funding source
cost Value change gains and losses Amount Amount beneficial
move
27,579,486 33,610,344.
other 4,875,000.00 1,155,857.97 private capital
.96 93
27,579,486 33,610,344.
total 4,875,000.00 0.00 1,155,857.97 0.00 0.00 -
.96 93
The company had no use of raised funds during the reporting period.
The company did not sell major assets during the reporting period.
Major subsidiaries and shareholding companies that have an impact on the company’s net profit by more than 10%
unit: yuan
company name Type of company Main business Registered capital Total assets Net assets Operating incomeoperating profit Net profit
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
RF front end
semiconductors
And microelectronics
Automated manufacturing
Equipment, antenna
Pieces, connectors,
Xinwei Communications (Jiang 100 million yuan 2,407,514,55 695,839,239. 2,689,578,22 202,455,994. 181,031,207.
Subsidiary Precision hardware
Su) Co., Ltd. RMB 9.02 52 4.33 08 43
Parts, precision electronics
Sub-product research
Sales; above
Product technology
Development Technology
Consulting; self-employed
Service
Technical development
Production, processing,
Sales
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
In 2020, the company will continue to actively face the extremely challenging external environment. As a technology-driven enterprise, it must continue to deepen its internal strength a
Investment in R&D and innovation of basic materials and basic technologies. On the basis of consolidating the advantages of the company’s original business areas, by providing customers w
Value new products to ensure the company’s competitiveness on the client side. At the same time, the company focuses on the improvement and improvement of financial indicators such as a
It is necessary to further strengthen internal operations and budget management capabilities, increase anti-risk capabilities, and achieve sustained growth in the company’s operating performan
1. In the face of 5G development opportunities, the company insists on focusing on the main business of radio frequency and fully grasps the business of 5G mobile terminals, base stati
Opportunities, do a pre-research on the technology path in advance, and do a good job of supporting products for large domestic and foreign customers;
2. In terms of product development and expansion, continue to increase the research of basic materials and basic technology, accelerate the construction of Japanese research institutes, a
Hold R&D investment to account for more than 8% of revenue; increase research on radio frequency materials such as LCP, ceramics, and magnetic materials; accelerate 5G millimeter wave
Product landing work of RF front-end devices such as filters; further expand 5G antennas, wireless charging, LCP RF devices, high-performance precision BTB
Customer coverage and market share of connectors, 5G base station antennas and key antenna components; preliminary research on 6G related technologies;
3. In terms of customer cooperation, it is necessary to enhance cooperation with customers at the strategic level, and further strengthen customer pain points, technology development tre
Collect and analyze the trends of competitors, strengthen the internal collaboration between the sales end-Academia Sinica-business unit, and accelerate the launch of new products and new te
Promotion landing;
4. In terms of capacity construction, on the basis of completing the relocation of wireless charging, cables and connectors to Changzhou in 2019, successively
Improve the production capacity layout of various product lines and make full use of the production capacity advantages of the Changzhou base;
5. In terms of team building, make great efforts to cultivate the ability of core positions and introduce talents to make more capable and motivated young people
People come to build and improve the organization; actively promote a partnership culture of consensus, co-creation, sharing, and sharing, and achieve the 2020 option incentive goal,
Increase incentives for strugglers and contributors;
6. The company strengthens the management and control of each business department through comprehensive budget management, strictly implements the cost budget, and realizes cost
Capital turnover speed, improve the efficiency of capital use, rationally arrange the use of capital, so as to ensure the company's steady and healthy development.
2020 is destined to be a year full of challenges, but also a year full of opportunities and expectations. The company does not forget its original intention,
Research on basic technologies, broaden the technological moat, and strive to bring good returns to all shareholders in the long term.
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
Prospects, but if the company fails to maintain a competitive advantage in production, management, marketing, technology, etc. in the process of industry integration, it will face
Certain market competition risks.
③The uncertainty of exchange rate fluctuations
The company’s export sales and imported raw materials are mainly settled in US dollars. As the instability of the international political and economic environment increases, the compan
The uncertainty of rate fluctuations. In the future, the company will strengthen foreign exchange management, make forward-looking forecasts of foreign exchange rate fluctuations, and prep
Hedging reserves to reduce the impact of exchange rate fluctuations on the company.
2. Manage risks
In recent years, with the continuous expansion of business, the company’s endogenous growth and extensional development have proceeded simultaneously, and the number of company
The product line has become more abundant, the number of employees in the company has grown correspondingly, and the existing management system and management system are facing m
The adjustment and improvement of the company’s current governance structure, internal management processes and personnel structure cannot meet the needs of the company’s rapid develo
The risk increases.
The company’s management has fully realized that certain management risks may exist in the process of rapid development, which requires the company to further
There is a management structure to improve and optimize, strengthen the promotion of the compliance operation philosophy of the management team of subsidiaries and joint-stock companie
Management training, strict implementation of internal control and budget management, and implementation of the company's overall strategic plan.
10. Registration form for reception of research, communication, interviews and other activities
1. Registration form for receiving research, communication, interviews and other activities during the reporting period
Reception time Reception Reception object type Index of the basic situation of the survey
September 18, 19, 2019 and Juchao Information Network, September 18, 2019, 19
Field research mechanism
23rd Records of Investor Relations Activities on Day and 23
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
1. Profit distribution of the company’s ordinary shares and capitalization of capital reserves
During the reporting period, the common stock profit distribution policy, especially the formulation, implementation or adjustment of the cash dividend policy
The company’s profit distribution plan for the reporting period and the capitalization of capital reserves are consistent with the company’s articles of association and dividend management measures.
The company’s profit distribution plan for the reporting period and the plan for capitalization of capital reserves are in compliance with the relevant provisions of the company’s articles of association.
Cash dividend amount in other ways (such as share repurchase) (yuan) 0.00
Total cash dividends (including other methods) (yuan) 48,431,998.30
If the company's development stage is not easy to distinguish but there are major capital expenditure arrangements, when the profit distribution is carried out, the proportion of cash dividends in this profit distribution should b
Based on the total share capital of 968,639,966 shares on April 16, 2020, a cash dividend of RMB 0.5 (tax included) is distributed for every 10 shares. Total cash dividends
48,431,998.30 yuan. The remaining undistributed profits are carried forward to subsequent years.
The company’s common stock dividend distribution plan (plan) and the capital reserve conversion plan (plan) for the past 3 years (including this reporting period)
The company’s cash dividends of ordinary shares in the past three years (including this reporting period)
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
unit: yuan
1,019,890,543.
2019 year 48,431,998.30 4.75% 0.00 0.00% 48,431,998.30 4.75%
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The company was profitable during the reporting period and the parent company’s profit available for distribution to ordinary shareholders was positive but did not propose a cash dividend distribution plan for ordinary shares
2. Implementation of Commitments
1. The company’s actual controllers, shareholders, related parties, acquirers, and the company’s commitments have been fulfilled during the reporting period and have not yet been fulfilled by the end of the r
Commitments completed
Commitment source Promise party Commitment type Promise content Committed time Commitment period
Performance
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
Any activities of
Or participate in or engage in
So far.
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
If it is found to exist
Compensation arrangements.
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
2. The company’s assets or projects have profit forecasts, and the reporting period is still in the profit forecast period, the company’s assets or projects reach the original profit forecast and the reasons
Make an explanation
3. Non-operating capital occupation of the listed company by the controlling shareholder and its related parties
During the reporting period, there was no non-operating capital occupation of the listed company by the controlling shareholder and its related parties.
4. Explanation of the board of directors on the latest " non-standard audit report "
6. Explanation of the board of directors on the accounting policy, accounting estimate changes or major accounting errors correction during the reporting period
7. Compared with the financial report of the previous year, the explanation of the changes in the scope of consolidated statements
On January 10, 2019, the company established Jiangsu Xinwei Intelligent Automobile Interconnection Technology Co., Ltd. with natural persons Tang Yanmin and Li Gan. The company holds 68% of the shares. Tang Yanmin
The shareholding ratio is 22%, and Li Gan's shareholding ratio is 10%, which was included in the scope of the consolidated statement during the reporting period.
The wholly-owned subsidiary Hong Kong Xinwei Communication Co., Ltd. established SUNWAY COMMUNICATION VIET NAM COMPANY LIMITED with 100% shareholding ratio.
Name of domestic accounting firm Lixin Certified Public Accountants (Special General Partnership)
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
Consecutive years of CPA audit services of overseas accounting firms (if any) None
□ Yes √ No
IX. After the disclosure of the annual report, it faces the suspension and termination of listing
No bankruptcy and reorganization related matters occurred during the reporting period.
13. The integrity of the company and its controlling shareholders and actual controllers
□ Applicable √ Not applicable
14. Implementation of the company’s equity incentive plan, employee stock ownership plan or other employee incentive measures
2. On December 2, 2016, the sixth meeting of the third board of directors of the company reviewed and approved the "Company <2016 Restricted Stock Incentive Plan (Draft)>
And its summary", the total number of incentive objects to be awarded is 241, including company directors, senior managers, middle-level managers, core
Technical (business) personnel, the number of restricted stocks to be granted is 20 million shares.
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3. On December 22, 2016, the company's 2016 first extraordinary general meeting of shareholders voted to pass the "Company <2016 Restricted Stock Incentive Plan (Draft)>
And its summary proposal" and agreed to authorize the board of directors to handle equity incentive related matters.
4. On February 23, 2017, the eighth meeting of the third board of directors of the company deliberated and approved the "Regarding the Adjustment of the 2016 Restricted Stock Incentive Pla
"The Proposal on the Whole" and "The Proposal on Granting Restricted Stocks to Incentive Objects." The company agreed to determine February 23, 2017 as the grant date, because
Part of the incentive objects identified in the "Shenzhen Xinwei Communication Co., Ltd. 2016 Restricted Stock Incentive Plan (Draft)" due to resignation, etc.
Other personal reasons voluntarily give up the incentive qualifications and do not meet the conditions of being an incentive object. Therefore, the number of incentive objects in this incentive
The name was adjusted to 231, and the total amount of restricted stock granted was adjusted from 20 million shares to 19,966,000 shares. The listing date of the shares granted by this equity i
It is March 10, 2017.
5. On April 17, 2018, the sixteenth meeting of the third board of directors of the company reviewed and approved the "Partial Incentive Share Repurchase of the Equity Incentive Plan"
"The Cancellation Proposal", because the company did not meet the first performance conditions for lifting sales restrictions stipulated in the equity incentive plan, the company’s board of dir
Restricted Stock Incentive Plan 231 incentive objects were granted the first 6,655334 restricted shares that have been released from the restricted period but have not yet been released
Cancellation of repurchase. Due to the resignation of 25 incentive objects of Huang Guangbin and Liu Liangping, they no longer meet the incentive conditions, except for the above-mentione
In addition to the first restricted stocks that have not been lifted during the restricted sale period, the company intends to grant the second and third
A total of 613,333 restricted stocks that were released from the restricted period were repurchased and cancelled. A total of 7,268,667 restricted shares were repurchased and cancelled this tim
6. On June 5, 2018, the eighteenth meeting of the third board of directors of the company reviewed and approved the "Regarding the adjustment of the equity incentive plan
"Repurchase and Cancellation Proposal", because the company did not meet the first performance condition for lifting sales restrictions as stipulated in the equity incentive plan, the company
In 2016, 231 incentive objects of the restricted stock incentive plan were granted the first 6.655334 million shares that have been released from the restricted period but have not yet been relea
Sexual shares are repurchased and cancelled. After the company’s active communication and retention, the Sixteenth Meeting of the Third
“Partially Incentives for Share Repurchase and Cancellation Proposal”, a resigned employee decided to revoke the resignation application after careful consideration, and therefore retain the e
The second and third 166,667 restricted stocks that were granted but not yet lifted from the restriction period. In addition, as of the third board of directors
Before the eighteenth meeting, 8 new leavers were added. For this reason, the incentive objects who no longer meet the incentive conditions due to resignation have been adjusted from 25 to 3
The second and third restricted stocks that have been granted but have not yet lifted the restricted stocks for the incentive objects that do not meet the incentive conditions due to resignation
613,333 shares were adjusted to 584,000 shares. Therefore, in addition to the above-mentioned repurchases and cancellations due to substandard performance, the
In addition to the restricted stocks, the company intends to grant a total of 58.4
Ten thousand restricted stocks were repurchased and cancelled, and a total of 7.239334 million restricted stocks were repurchased and cancelled this time.
On June 27, 2018, the company’s 2017 Annual General Meeting of Shareholders reviewed and approved the "Regarding the adjustment of the share incentive plan for partial incentive sh
Motion."
On September 19, 2018, the company completed the above 7,239,334 restricted shares in the Shenzhen branch of China Securities Depository and Clearing Co., Ltd.
Repurchase and cancellation of tickets.
7. On April 24, 2019, the 22nd meeting of the third session of the company’s
"Proposal on Restrictive Shares", because the company did not meet the second performance condition for lifting sales restrictions stipulated in the equity incentive plan, the company’s board
In 2016, 199 incentive objects of restricted stock incentive plan were granted the second 6.363334 million shares that have been released from the restricted period but have not yet been relea
Sexual shares are repurchased and cancelled. Because 24 incentive objects such as He Li and Liu Min left their jobs and no longer meet the incentive conditions, except for the above-mention
Except for the cancelled restricted stocks that have not yet been lifted during the second restricted sale period, the company has been granted but has not yet lifted the third restricted stocks.
A total of 594,400 restricted stocks in the sale period were repurchased and cancelled. A total of 6.955338 million restricted shares were repurchased and cancelled this time.
On May 22, 2019, the company’s 2018 Annual General Meeting of Shareholders reviewed and approved the “Regarding the Repurchase and Cancellation of Certain Restricted Shares of
motion".
On July 18, 2019, the company completed the above 6.955338 million restricted shares in the Shenzhen branch of China Securities Depository and Clearing Co., Ltd.
Repurchase and cancellation of tickets.
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On September 19, 2019, the company's first extraordinary general meeting of shareholders in 2019 voted and passed the "About the Company <The Third Equity Incentive Plan (Draft)>
And its summary", "Proposal on the Company's "Measures for the Evaluation and Management of the Implementation of the Third Phase of Equity Incentive Plan"", and agreed to authorize t
Manage issues related to equity incentives.
On September 26, 2019, the second meeting of the fourth board of directors of the company reviewed and approved the "Proposal on Granting Stock Options to Incentive Objects".
The company agreed to determine September 26, 2019 as the grant date and grant 30 million stock options to 12 incentive objects.
On October 23, 2019, the Shenzhen Stock Exchange and China Securities Depository and Clearing Co., Ltd. Shenzhen Branch reviewed and confirmed that the company completed
It became the registration of the stock options granted by the "Third Equity Incentive Plan".
(3) Implementation of the company's first phase of employee stock ownership plan
1. On December 2, 2016, the sixth meeting of the third term of the company’s board of directors reviewed and approved the "Company <2016 First Phase Employee Stock Ownership Plan (D
And its summary>, the total amount of funds raised by the employee stock ownership plan is 650 million yuan, and the upper limit of the asset management plan is 1.3 million yuan.
2. On December 22, 2016, the company's 2016 first extraordinary general meeting of shareholders voted and passed the "Company <2016 First Phase Employee Stock Ownership Plan (Draft)
And its summary> and agreed to authorize the board of directors to handle matters related to the employee stock ownership plan.
3. On January 23, 2017, the seventh meeting of the third board of directors of the company reviewed and approved the
The first phase of the employee stock ownership plan (draft)> and its summary proposal. The company entrusts Tibet Trust Co., Ltd. after the establishment of the first phase of employee stoc
Established Tibet Trust-Laiwo No. 15 Collective Funds Trust Plan for management, and Tibet Trust- Laiwo No. 15 Collective Funds Trust Plan passed Chuangjin Hexin
Fund Management Co., Ltd. established Chuangjin Hexin Fund-Xinwei Communication-Hengle No. 1 Asset Management Plan for management. Tibet Trust-Levo 15 Collection
The capital trust plan and Chuangjin Hexin Hengle No. 1 Asset Management Plan have an upper limit of 1.3 million yuan.
4. On February 28, 2017, the company announced that the first phase of the employee stock ownership plan will be approved by block transactions and plans from February 17, 2017 to Febru
The secondary market purchases a total of 44,552,168 shares of the company’s stock, and the number of shares purchased accounts for 4.53% of the company’s total share capital at the time o
The average price is 27.65 yuan/share, and the company's first phase of employee stock ownership plan completed the stock purchase.
5. On June 15, 2018, the company announced that the duration of the first phase of the employee stock ownership plan will expire soon. The company will implement the 2016 annual profit o
After the profit distribution plan, the company’s first phase of employee stock ownership plan received a cash bonus of RMB 2,227,608.4 (tax included), and the number of shares held was no
Changes.
6. On February 12, 2019, the company announced that the trust contract for the first phase of the employee stock ownership plan was two years old and expired on February 13, 2019.
On the announcement day, the 44,552,168 shares of the company’s stock held by the company’s first-phase employee stock ownership plan have all been sold, accounting for the total share ca
The ratio is 4.57%.
(4) Implementation of the company's second phase of employee stock ownership plan
1. On November 30, 2017, the 14th meeting of the third session of the company’s board of directors reviewed and approved the "Company <2017 Second Phase of Employee Stock Ownershi
Proposal) and its summary>", the second phase of the employee stock ownership plan intends to establish two collective fund trust plans and entrust a trust company to establish Xinwei
Communication Employee Stock Ownership Plan Collective Funds Trust Plan No. 1 and No. 2, of which the maximum size of employee share plan collective fund trust plans No. 1 and No. 2
They are respectively 260,000 million yuan (inclusive) and 7.0 billion yuan (inclusive). The upper limit of the total self-raised funds of the two employee stock ownership plans fund trust plan
The total amount is 1.65 million yuan, and the upper limit of the total asset management plan is 3300 million yuan.
2. On December 21, 2017, the company's 2017 first extraordinary general meeting of shareholders voted to pass the "Company <2017 Second Employee Stock Ownership Plan (Draft)
And its summary> and agreed to authorize the board of directors to handle matters related to the employee stock ownership plan.
3. On March 14, 2018, the Yunxin-Ruiyi No. 2017-1 Securities Investment Collective Fund Trust Plan in the second phase of the company’s employee stock ownership plan passed the block
A total of 17,501,366 shares of the company’s stock were purchased through trading and centralized bidding, with an average transaction price of approximately RMB 39.51 per share, and a t
691,249,347.66 yuan, the number of purchased shares accounted for 1.78% of the company’s total share capital at the time of the announcement. The above plan has completed the stock purc
4. On June 5, 2018, the eighteenth meeting of the third board of directors of the company reviewed and approved the
Announcement of Capital Trust No. 1", the collective capital trust plan No. 1 of the company's second phase of employee stock ownership plan with a capital scale of 2.6 billion yuan is not of
Established and terminated on June 5, 2018.
5. As of December 31, 2019, the Yunxin-Ruiyi No. 2017-1 Securities Investment Collective Fund Trust Plan in the company's second phase of employee stock ownership plan has been
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
Sold 17,471,366 shares of the company and still held 30,000 shares of the company, accounting for approximately 0.003% of the company's total share capital as of December 31, 2019.
During the reporting period, the company had no related transactions related to daily operations.
2. Related party transactions arising from the acquisition or sale of assets or equity
During the reporting period, there were no related transactions involving the acquisition or sale of assets or equity.
During the reporting period, the company did not have any connected transactions involving joint external investment.
During the reporting period, the company did not have related credit and debt transactions.
The company had no other significant related transactions during the reporting period.
( 1 ) Custody situation
( 2 ) Contracting situation
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
( 3 ) Lease situation
2. Major guarantee
( 1 ) Guarantee
The company and its subsidiaries’ external guarantees (excluding guarantees to subsidiaries)
Guarantee limit
Actual deposit Whether to perform
Is it off
Guarantee object name Related announcements
The actual date of the guarantee amount Type of guarantee Guarantee period
amount complete Joint guarantee
Disclosure date
Company guarantees to subsidiaries
Guarantee limit
Actual deposit Whether to perform
Is it off
Guarantee object name Related announcements
The actual date of the guarantee amount Type of guarantee Guarantee period
amount complete Joint guarantee
Disclosure date
Approval of guarantees to subsidiaries during the reporting period During the reporting period, guarantees to subsidiaries
214,405 151,524
Total (B1) Total inter-current amount (B2)
Guarantees to subsidiaries approved at the end of the reporting period Actual commitments to subsidiaries at the end of the reporting period
214,405 151,524
Total quota (B3) Total guaranteed balance (B4)
Guarantee limit
Actual deposit Whether to perform
Is it off
Guarantee object name Related announcements
The actual date of the guarantee amount Type of guarantee Guarantee period
amount complete Joint guarantee
Disclosure date
The total amount of company guarantees (ie the total of the first three items)
Total approved guarantee quota during the reporting period The actual amount of guarantee during the reporting period
214,405 151,524
(A1+B1+C1) Total (A2+B2+C2)
The total amount of approved guarantees at the end of the reporting period The actual guarantee balance at the end of the reporting period
214,405 151,524
(A3+B3+C3) Meter (A4+B4+C4)
The actual total guarantee amount (ie A4+B4+C4) as a percentage of the company’s net assets 32.13%
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
among them:
Note: The US dollar amount guaranteed by the company for Hong Kong Xinwei Communication Co., Ltd. will be converted into RMB at an exchange rate of 1:6.9762 on December 31, 2019.
During the reporting period, the company had no violations of external guarantees.
The company did not have entrusted financing during the reporting period.
( 2 ) Entrusted loans
The company did not have entrusted loans during the reporting period.
Whether the listed company and its subsidiaries belong to the key pollutant discharge units announced by the environmental protection department
Yes
Ecological by city
Yi Gaode surface treatment Total copper 0.2113 1.0 0.00156 0.031250
Bureau and Baoan
(Shenzhen) Limited Liability Intermittent discharge 1 no
Fluoride (as F- Environmental water
the company 3.8609 20 0.0285 /
meter) Bureau related
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Meter, flow
meter)
Yi Gao De Surface Treatment (Shenzhen) Co., Ltd. (hereinafter referred to as "Y Gao De") strictly complies with the environmental impact report and the construction project environment of Shenzhen Environmental an
The impact review approval [Shenhuan Batch (2009) 100471] requires the construction of pollutant prevention and treatment facilities according to the three simultaneous (simultaneous design, simultaneous construction, and
Use) for implementation and acceptance. Continue to strengthen investment in environmental protection and the operation and management of environmental protection facilities, and regularly maintain and maintain environm
The waste water and waste gas produced in the process are discharged after treatment. Hazardous waste generated in the production process is collected separately and related labels are posted. The solid waste is entrusted to q
The third party performed outsourcing treatment and signed a hazardous waste treatment agreement. Every year, a hazardous waste management plan is formulated and reported to the local environmental protection office, and
1: Wastewater treatment: In order to ensure that the wastewater generated in the production process every day is treated and discharged up to the standard, Yi Gaode invested in the construction of a large-scale wastewater treat
Of environmental protection companies. The total discharge outlet is equipped with automatic online monitoring equipment and is connected to the Shenzhen Environmental Monitoring Center. The discharge concentration of
Implement online monitoring. At the same time, the company has daily operating accounts for waste water and waste gas operating equipment (operating time, emission concentration of various pollution factors, dosage of che
Heavy volume, solid waste generation) signed a commissioned testing technology contract with a third party. The pollution factors of each tank and each treatment process are tested every day, and the third party every month
Detect waste water and issue relevant inspection reports to ensure that the waste water and waste gas generated during the production process meet the discharge standards.
2: Waste gas treatment: Yigaode has set up waste gas treatment facilities for waste gas generated in the production process, using neutralization spray, acid-base neutralization method, water mist spray method, etc.
The automatic dosing system is adopted and the dosing account is set up, and a third party is entrusted to conduct 4 to 5 inspections of exhaust gas every year, and the inspection results are all up to standard.
3: Solid hazardous waste treatment: Yigode strictly complies with the "Law of the People's Republic of China on the Prevention and Control of Environmental Pollution by Solid Waste" and relevant laws, regulations and relat
According to management requirements, Yigod has established a standardized solid waste generation and transfer process, has a separate solid hazardous waste storage site and posted relevant signs according to the types of ha
Signed an industrial solid hazardous waste treatment agreement with a third party, and drafted a hazardous waste management plan every year and reported it to the local environmental protection agency for the record.
4: Soil treatment: In 2019, Yigaode signed a soil prevention and control responsibility letter with the People’s Government of Baoan District, Shenzhen. The soil around Yigaode will be tested every year to strengthen
Soil governance work.
5: Others: Yigode commissions a qualified third party to inspect the noise and other exhaust gases at the factory boundary every year, conduct regular inspections and inspect and maintain related facilities to ensure
Meets environmental protection requirements.
Environmental impact assessment of construction projects and other environmental protection administrative permits
All environmental protection construction projects of Yigod have fulfilled the environmental impact assessment and other environmental protection administrative licensing procedures in accordance with the requiremen
The construction of facilities is in strict accordance with the requirements of the three simultaneous (simultaneous design, simultaneous construction, and simultaneous investment) of environmental protection and the main pro
camp.
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Address of production and business premises: Building 1, Gonghe Village Second Industrial Zone, Shajing Street, Baoan District, Shenzhen
Validity period of the pollution discharge permit: December 28, 2017 to December 27, 2020.
In order to establish a scientific and effective accident prevention and emergency response mechanism, focusing on prevention, once an accident occurs, timely and efficient handling of various sudden environmental pol
To protect the life and property safety of Egod’s employees and reduce the impact on the surrounding environment, Egod has formulated a corresponding "Emergency Plan for Environmental Incidents" and followed the regula
Report to the local environmental protection authority for record, record number: 440306—2017—ZQ075—C.
Yigode strictly abides by the environmental protection laws, regulations and relevant regulations of the national and local government departments, and regularly entrusts third-party testing agencies to check Yigode’s wa
Water, waste gas, and noise were tested, and the 2019 waste water, waste gas, and noise test results all met the discharge standards.
Ecoat builds its own environmental information disclosure website: www.ecoat.com.cn. Ecoat makes corresponding announcements about relevant environmental dynamics.
During the reporting period, there were no other major matters that needed to be explained.
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Section 6 Share Changes and Shareholders
1. Share changes
1. Share changes
Unit: share
Before this change Increase or decrease of this change (+, -) After this change
810,954,2 811,223,7
2. Unlimited shares 83.12% 269,510 269,510 83.75%
46 56
810,954,2 811,223,7
1. RMB ordinary shares 83.12% 269,510 269,510 83.75%
46 56
1. On April 24, 2019, the 22nd meeting of the third board of directors of the company deliberated and passed the "Proposal on Repurchase and Cancellation of Certain Restricted Shares in the Equity Incentive Plan",
Because the company did not meet the second performance condition for lifting sales restrictions as stipulated in the equity incentive plan, the company’s board of directors decided to give 199 incentive pairs to the 2016 restri
The 6.363334 million restricted stocks that Xiang was granted to release the second restriction period but have not yet been released were repurchased and cancelled. 24 incentive objects including He Li and Liu Min resigned
No longer meets the incentive conditions, except for the repurchase and cancellation of the second restricted stock that has not been lifted due to the above-mentioned performance failure, the company has been granted
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
However, a total of 594,400 restricted stocks that have not yet been lifted from the restricted sale period were repurchased and cancelled. A total of 6.955338 million restricted shares were repurchased and cancelled this time.
On May 22, 2019, the company's 2018 annual general meeting of shareholders reviewed and approved the "Proposal on Repurchase and Cancellation of Certain Restricted Shares in the Equity Incentive Plan." July 2019
On the 18th, the company has completed the repurchase and cancellation of the above 6.955338 million restricted stocks in the Shenzhen branch of China Securities Depository and Clearing Corporation Limited.
2. During the reporting period, the company held a general election for the board of supervisors. According to relevant regulations of the exchange, the original supervisor Mr. Wang Kefu held 269,510 shares of stocks with res
The ban will be lifted after half a year from the date of his resignation as a supervisor.
On April 24, 2019, the 22nd meeting of the third session of the company’s board of directors deliberated and approved the "Proposal on Repurchase and Cancellation of Certain Restricted Shares in the Equity Incentiv
According to the case, a total of 6,955,338 restricted stocks were repurchased and cancelled this time. On May 22, 2019, the company’s 2018 annual general meeting of shareholders reviewed and approved the
The Proposal on Certain Restricted Shares of the Right Incentive Plan. On July 18, 2019, the company completed the above in the Shenzhen branch of China Securities Depository and Clearing Co., Ltd.
The impact of share changes on financial indicators such as basic earnings per share and diluted earnings per share, net assets per share attributable to common shareholders of the company, etc.
Other content deemed necessary by the company or required by securities regulatory authorities
Unit: share
Peng Hao 148,425,300 148,425,300 executives lock shares Directors and supervisors high sales restriction regulations
set
Restricted shares
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Restricted shares
share
share
Restricted shares
Restricted shares
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
share
share
share
share
Note: The above-mentioned decrease in restricted shares of Wu Huilin, Han Tingtao, Du Min, Lian Huanhui, Zuo Jianbin, Mao Dadong, Wang Qiuhong, Li Aihua, Hu Shuzhou and other restricted shareholders is caused by
As a result of the repurchase and cancellation of restricted stocks for equity incentives, the details are as follows: On April 24, 2019, the
The Proposal on Repurchase and Cancellation of Part of the Restricted Shares of the Equity Incentive Plan", agreed to repurchase and cancel a total of 6.955338 million restricted shares. The repurchase has been completed du
Cancellation, please refer to the "Announcement on Completion of Repurchase and Cancellation of Certain Restricted Stocks" on www.cninfo.com.cn. (Announcement Number: 2019-034)
As the former supervisor Wang Kefu resigned after the expiration of his term, the 269,510 shares held by him were released from the executive sales restriction.
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2. Description of changes in the company’s total shares and shareholder structure, and changes in the company’s assets and liabilities structure
During the reporting period, the 22nd meeting of the third session of the company’s board of directors reviewed and approved the "Regarding the repurchase and cancellation of some restricte
"The Proposal", because the company did not meet the second performance condition for lifting sales restrictions stipulated in the equity incentive plan, the company’s board of directors decid
The 199 incentive objects of the stock incentive plan were granted the second 6.363334 restricted stocks that have been released from the restriction period but have not yet been released.
Purchase cancellation. Because 24 incentive objects such as He Li and Liu Min resigned, they no longer meet the incentive conditions, except for the second one that was repurchased and can
Except for restricted stocks that have not yet been
59.2004 million restricted stocks were repurchased and cancelled. A total of 6.955338 million restricted shares were repurchased and cancelled this time. On May 22, 2019, the company
The 2018 Annual General Meeting of Shareholders deliberated and passed the "Proposal on Repurchase and Cancellation of Certain Restricted Shares of the Equity Incentive Plan." In summa
The total share capital of the company has been reduced from 975,595,304 shares to 968,639,966 shares.
Unit: share
Peng Hao Domestic natural person 20.43% 197,900,400 148,425,300 49,475,100 pledge 45,000,000
Limited-Biography
System-General Insurance
other 1.36% 13,194,576 13,194,576
product
-022L-CT001
deep
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
ICBC
Company limited by shares
-CEIBS First
other 0.92% 8,901,436 8,901,436
Feng stock type launch
gold
ICBC
-E Fund Ventures
other 0.91% 8,808,080 8,808,080
Board trading open
Capital fund
Limited-Hua
ICBC
Types of shares
Shareholder name Number of unrestricted shares held at the end of the reporting period
Types of shares Quantity
RMB ordinary
Peng Hao 49,475,100 49,475,100
share
RMB ordinary
Hong Kong Securities Clearing Company Limited 24,125,108 24,125,108
share
RMB ordinary
Yu Wei 18,387,360 18,387,360
share
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RMB ordinary
Zhou Jin 9,073,694 9,073,694
share
RMB ordinary
National Social Security Fund 101 Portfolio 7,695,391 7,695,391
share
Bank of China Limited-China
RMB ordinary
CSI 5G Communication Theme Trading Opening 6,996,980 6,996,980
share
Index Securities Investment Fund
Time, and the top 10 unrestricted shares The aforementioned shareholder Peng Hao does not have an associated relationship with other shareholders, and it is unknown whether there is an associated relationship between other
Whether the company’s top 10 common stock shareholders and top 10 common stock shareholders with unrestricted sales conditions conducted agreed repurchase transactions during the reporting period
□ Yes √ No
The company's top 10 ordinary shareholders and the top 10 ordinary shareholders with unrestricted shares did not engage in agreed repurchase transactions during the reporting period.
The controlling shareholder of the company remained unchanged during the reporting period.
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
Main occupations and positions Chairman of Shenzhen Xinwei Communication Co., Ltd.
The actual controller of the company remained unchanged during the reporting period.
Block diagram of the property rights and control relationship between the company and the actual controller
The actual controller controls the company through trust or other asset management methods
5. Controlling shareholders, actual controllers, restructuring parties and other commitment subjects share restrictions on reductions
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During the reporting period, the company did not have preferred shares.
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
During the reporting period, the company did not have convertible corporate bonds.
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
Section 9 Directors, Supervisors, Senior Management and Employees
Overweight this
Reduction
period in this period
Start of term Term of officeBeginning
ends shareholding Other changesEnd of period holding
Name Position status gender age Number of shares
Number of shares
date date Number (shares) Changes (shares)
Number (shares)
(share) (share)
2016 2022
Director, Deputy
Du Min Incumbent Female 41 May 11 May 21 1,333,333 -666,667 666,666
General manager
day day
2017 2022
Director, Deputy
Yu Chengcheng Incumbent male 55 06 Feb May 21 0 0
General manager
day day
2017 2022
Gao Min Supervisor Incumbent Female 38 06 Feb May 21 66,667 -33,333 33,334
day day
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
2016 2022
Han Tingtao is currently the Deputy General
maleManager 62 07 04 May 21 2,205,333 -766,667 1,438,666
day day
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
3. Positions
The company’s current directors, supervisors, and senior executives’ professional background, main work experience and current main responsibilities in the company
1. Director
Peng Hao, male, born in 1967, bachelor degree. Served at China Shenzhen Color TV Corporation and Shenzhen International Business Data from 1989 to 2006
Co., Ltd., Shenzhen Songli Electronics Co., Ltd., Shenzhen United Yingjie Venture Capital Co., Ltd. Currently concurrently serving as Shenzhen United Yingjie Venture
Executive Director of Investment Co., Ltd., Supervisor of Shenzhen Yizheng Electronics Co., Ltd., Supervisor of Shenzhen Dinglifang Wireless Technology Co., Ltd., Xinweixiang
Chairman of the Hong Kong Board of Directors. From April 2006 to December 2011, he served as the general manager of the company. Since August 2019, he has been the general manager o
He is currently the chairman of the company.
Wu Huilin, male, born in 1968, PhD in mechanical engineering. From September 1986 to March 1996, he studied in Tianjin University majoring in mechanical manufacturing and won
Doctor of Engineering; from September 1996 to April 2008, served as the manager of the Supplier Management Department of Motorola China; from May 2008 to December 2011
Served as Director of Global Resources Development at PCTEL in October; served as General Manager of the company from January 2012 to present; Director of the company from March 2
Served as executive deputy general manager of the company.
Du Min, female, born in 1979, university degree. From March 2005 to December 2011, he served as deputy general manager of Shenzhen Proma Group; joined in January 2012
The company serves as assistant to the chairman. From September 2012 to February 2015, he served as director and secretary of the board of directors of the company; from February 2015 to
General manager. Since September 2016, he has served as director and secretary of the board of directors of the company.
Yu Chengcheng, male, born in 1964, graduate degree, senior engineer. From February 1989 to February 1992, he served as the director of the Konka Group Research Institute;
From March 1992 to July 1995, he was the manager of the teletext department of Shenye Group; from August 1995 to July 1999, he was the Songli Electronics Company of SDG
General Manager; from August 1999 to July 2007, he served as the general manager of Shenzhen Netlixin Information Technology Co., Ltd.; from August 2007 to present, he served in Shenz
General Manager of Titanium Cloud Technology Development Co., Ltd.; Director and Deputy General Manager of the company since June 2017.
Shan Lili, female, born in 1975, holds a Master of Laws from Zhejiang University. Former partner of Shanghai Jintiancheng Law Firm, August 2012 to October 2017
For five consecutive years, he served as a full-time member of the fourth, fifth and sixth sessions of the China Securities Regulatory Commission’s GEM Issuance Review Committee. Curren
(SZ300622) Independent director, partner of Zhong Lun Law Firm.
Li Gan, male, born in 1967, bachelor degree. From 1995 to 2003, successively in the United States Connaught Technology Company, Shenzhen SDG, Shenzhen
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Served as a senior management position in the Group; from 2013 to 2015, he served as the general manager of Shenzhen Xinjiahe Electronics Co., Ltd.; from 2015 to 2017, he served as Beiji
Deputy General Manager of Yi Technology Co., Ltd., presides over the development and promotion of the fourth-generation national ID card encryption chip. Served as Shenzhen Xinwei sin
Head of Automotive Division of Communications Co., Ltd.
Peng Jianhua, male, born in 1969, bachelor degree, senior accountant, certified public accountant, registered asset appraisal, current ShineWing Certified Public Accountants (special
(Special general partnership) financial business partner, independent director of Jiangxi Zhite New Materials Co., Ltd., former deputy director of Shenzhen Rongxin Certified Public Accounta
Partner of Daxin Certified Public Accountants Co., Ltd., partner of Lixin Certified Public Accountants (Special General Partnership).
Deng Lei, male, born in 1978, holds a PhD in Economic Law from the School of Law of Zhongnan University of Economics and Law, and a postdoctoral fellow in Financial Securities Law o
Served as the Deputy Director of the Corporate Legal Practice Committee of Shenzhen Lawyers Association, Chuangzhi Information Technology Co., Ltd., Shenzhen Pruto Supply Chain Ma
Co., Ltd., independent director of Guangdong Chaohua Technology Co., Ltd., has been working in Guangdong Huashang Law Firm since July 2004.
Senior partner of the firm; currently serving as Wuhan Gaode Infrared Co., Ltd., Fangda Group Co., Ltd., Shenzhen Huaqiang Industrial Co., Ltd.
Co., Ltd., independent director of Shenzhen Haimingrun Superhard Materials Co., Ltd.; member of the Political Consultative Conference of Futian District, Shenzhen.
Xu Jian, male, born in 1961, is a distinguished professor of Shenzhen University. Served as Deputy Director of the Institute of Chemistry, Chinese Academy of Sciences (Research/Finance/
Institute-local cooperation, etc.), 1998-2005 Deputy Director of the State Key Laboratory of Polymer Physics and Chemistry, 2008-2013 National Key Laboratory of Fiber Modified Materials
Laboratory director. 2001-2005 National 863 Program New Material Field High-Performance Structural Material Subject Expert Group and High-Performance Carbon Fiber Key Technology
Group leader. The chief expert of the new material field expert group of the National 863 Program from 2006 to 2010, and the expert of the National 863 Program Expert Committee from 201
The leader of the 863 plan high-performance fiber and composite material key special expert group; the chief expert of the national 973 plan carbon fiber project, the national basic science an
Office Director (Ministry of Science and Technology) of the Large-scale Scientific Instrument Center of the Software Platform 2009-2015 Vice Chairman of China Society for Materials Rese
Chairman of ISO/TC202. The current expert of the National New Materials Expert Committee, the expert of the National Strategic Emerging Industry Expert Advisory Committee (Developm
Expert of the new material major special expert group (Ministry of Science and Technology), expert of the National Key Science and Technology Plan Material Gene Expert Group (Ministry
Vice chairman. Associate editor of "Polymer Bulletin" and "New Chemical Materials", participated in, and was responsible for writing the National New Material Leadership
Regional development strategy planning.
2. Supervisors
Zhou Jinjun, male, born in 1982, university degree. From March 2003 to June 2006, he served as Senior Quality Director of Yamaichi Electronics (Shenzhen) Co., Ltd.,
From July 2006 to February 2017, he served as the purchasing manager for the Greater China region of Hirose Technology Shenzhen Co., Ltd. Served at Shenzhen Xinweitong since March 2
Xinxin Co., Ltd., is currently the deputy general manager of the connector division.
Gao Min, female, born in 1981, has a bachelor's degree in law from Wuhan University, an intermediate economist, and obtained a lawyer's qualification certificate. July 2003 to April 2012
In September, he served as the Chief of Legal Affairs of Shenzhen SEG Samsung Co., Ltd.; he joined the company in June 2012 and is currently the Chief Legal Officer of the company.
Song Zhe, male, Chinese citizen, no permanent residency abroad, born in 1988, doctoral degree, Shenzhen overseas high-level talent. July 2016
Until September 2017, he served as the head of LTCC material research and development in Guangdong Fenghua High-tech Co., Ltd. Joined Shenzhen Xinwei Communication since Septemb
Co., Ltd., is currently a material expert in the company's radio frequency materials department, and deputy director of Guangdong LCP5G radio frequency system engineering technology rese
3. Senior management
For the resumes of Peng Hao, Wu Huilin, Du Min, and Yu Chengcheng, please refer to "3. Positions" in this section.
Han Tingtao, male, born in 1957, bachelor degree. Graduated from Shanghai Fisheries University of Science and Technology in 1982, served as Yiyang Yukang Communication from 2007 to
Co., Ltd. director and general manager; from November 2013 to October 2014, he served as the director of the company’s new product development department; from October 2014 to presen
Assistant to the Chairman; served as a director of the company from March 2015 to May 2019; served as deputy general manager of the company since July 2016.
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Mao Dadong, male, born in 1973, bachelor degree, accounting. From March 2001 to May 2006, he served as the Cost Association of Shenzhen Petrochemical Electrical Appliance Industry C
Accounting, General Ledger Accounting, and Accounting Supervisor; from June 2006 to September 2009, he served as a subsidiary of Acorn International (ATV, listed on the NYSE), Shangh
Financial manager of the company; from September 2009 to May 2011, he was the financial manager of Yiyang Yukang Communication Equipment Co., Ltd. (Shenzhen) under ATV Internat
Manager; served as the company’s financial manager from May 2011 to August 2011; from June 2014 to September 2016, served as a director and secretary of the board of directors of the co
Since August 2011, he has been the chief financial officer of the company.
Zuo Jianbin, male, born in 1969, bachelor degree. From 1990 to 1993, he worked in the Electronic Transmission Department of Xi'an Valmet Paper Machinery Co., Ltd.; 1993
Years as an electronic engineer in Shenzhen Denri Electronics Co., Ltd.; in 1994 as a sales engineer in Qingcheng Company, a semiconductor agent; from 1995 to 2009, successively
Arrow Electronics (China) Co., Ltd. sales engineer, sales manager, and senior sales manager. Since October 2009, he has served as deputy general manager of the company.
Position in shareholder units
January 2004
Peng Hao Shenzhen Yizhenggao Electronics Co., Ltd. Supervisor no
30 days
April 2009
Peng Hao Shenzhen Ding Lifang Wireless Technology Co., Ltd. Shareholders and supervisors no
21st
December 2017
Yu Chengcheng CLP Deqing Huaying Electronics Co., Ltd. director no
26 days
December 2017
Han Tingtao CLP Deqing Huaying Electronics Co., Ltd. director no
26 days
January 2018
Shan Lili Beijing Zhonglun (Shenzhen) Law Firm partner Yes
02 days
January 2018
Shan Lili Doctor Glasses Chain Co., Ltd. Independent director Yes
11th
Financial businessAugust
cooperation
2017
Peng Jianhua ShineWing Certified Public Accountants (Special General Partnership) Yes
Fellow 31st
May 2017
Peng Jianhua Jiangxi Zhite New Materials Co., Ltd. Independent director Yes
04 days
April 2015
Deng Lei Wuhan Gaode Infrared Co., Ltd. Independent director Yes
23rd
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February 2016
Deng Lei Fangda Group Co., Ltd. Independent director Yes
16th
April 2018
Deng Lei Shenzhen Huaqiang Industrial Co., Ltd. Independent director Yes
13th
July 2004
Deng Lei Guangdong Huashang Law Firm Senior Partner Yes
01 day
May 2018
Xu Jian Shenzhen Zhongxing New Material Technology Co., Ltd.
Independent director Yes
23rd
May 2019
Xu Jian Guangdong Tianan New Materials Co., Ltd. Independent director Yes
14th
May 2019
Xu Jian Beijing Gaomeng New Materials Co., Ltd. Independent director Yes
07 days
September 2019
Xu Jian Liaoning Aoke Chemical Co., Ltd. Independent director Yes
10 days
January 2019
Xu Jian Shenzhen University Distinguished Professor Yes
01 day
The penalties of the current directors, supervisors and senior executives of the company during the reporting period and the securities regulatory agencies in the past three years
The decision-making procedures, basis for determination, and actual payment of directors, supervisors, and senior management personnel
Decision-making procedures for the remuneration of directors, supervisors, and senior management: According to the operating conditions of 2019, in accordance with relevant performance a
The remuneration and appraisal committee reviews the remuneration received by the company’s directors, supervisors and senior management from the company.
The basis for determining the remuneration of directors, supervisors and senior managers: the remuneration of directors, supervisors and senior
The assessment of business performance, work ability, and job level is determined and issued.
The actual payment of the remuneration of directors, supervisors and senior management personnel: The remuneration of directors, supervisors and senior management personnel was paid in
Remuneration of directors, supervisors and senior executives during the reporting period
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total - - - - 1,578.17 -
Company directors and senior executives' equity incentives granted during the reporting period
V. Company employees
Total number of employees receiving salary in the current period (person) 7,244
Number of retired employees whose parent company and major subsidiaries need to bear expenses (persons) 1
Professional composition
salesperson 174
Financial officer 81
total 7,244
education level
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Undergraduate 842
Specialist 1,262
total 7,244
2. Salary policy
The company strictly abides by the "Labor Contract Law" and other relevant laws and regulations, departmental rules and normative documents. At the same time, it takes into account the characteristics of the industry and the
Competitiveness, the total compensation of employees is divided into basic compensation and performance compensation. During the reporting period, the company continued to improve a fair and complete remuneration perf
Ministry of fairness and external competition. In order to effectively motivate employees, the company’s remuneration policy adheres to the basic principle of matching the value of the post and formulates different policies for
The performance management method determines the corresponding salary level according to the technical ability level in each salary grade system. The company’s performance is closely linked to the interests of employees,
So that all employees can fully enjoy the results of the company’s development, effectively enhance the employees’ executive ability and sense of responsibility, help retain and attract outstanding talents, and contribute to the
3. Training plan
The company attaches great importance to the construction of talent echelon and staff training, combined with the needs of corporate development strategies for organizational capabilities, job requirements, corporate culture a
Based on actual conditions such as path, continuously develop and improve training courses based on ability and development to provide employees with ample training opportunities. It has established a combination of on-the
The training mechanism that enhances employees' sustainable improvement ability has achieved the win-win goal of employees' own professional ability improvement and the company's sustainable development.
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During the reporting period, the company strictly followed the "Company Law", "Securities Law", "Listed Company Governance Guidelines", "Shenzhen Stock Exchange Innovation
Rules for the Listing of Stocks on the Industrial Stock Exchange, the Guidelines for the Standardized Operation of Companies Listed on the Shenzhen Stock Exchange’s Growth Enterprise M
As required by laws and regulations, continuously improve the company’s corporate governance structure, establish and improve the company’s internal management and control system, and
Governance activities, promote the company's standardized operation, and improve the level of corporate governance. As of the end of the reporting period, the actual status of corporate gove
"Governance Guidelines" and "Guidelines for the Normative Operation of Companies Listed on the Shenzhen Stock Exchange's Growth Enterprise Market".
(1) Regarding shareholders and general meetings: the company strictly follows the "Rules for Shareholders Meetings of Listed Companies", "Articles of Association", and "Sharehold
Rules and requirements such as the Rules of Procedure, convene and convene a general meeting of shareholders in a standardized manner, treat all shareholders equally, and participate as muc
It will provide convenience to enable it to fully exercise shareholder rights.
(2) Regarding the company and the largest shareholder: the largest shareholder of the company strictly regulates its own behavior, and does not directly or indirectly surpass the gener
Intervene in the company's decision-making and business activities. The company has independent and complete business and independent management capabilities, in business, personnel, as
In terms of affairs, it is independent of the largest shareholder, and the company’s board of directors, board of supervisors and internal institutions operate independently.
(3) About directors and the board of directors: The company’s board of directors has 9 directors, including 3 independent directors. The number and composition of the board of direc
The requirements of laws, regulations and the "Articles of Association". All directors can follow the "Guidelines for the Standardized Operation of Companies Listed on the Shenzhen Stock E
Carry out work such as the "Rules of Procedure for the Board of Directors" and "Work Rules for Independent Directors", attend the board of directors and the shareholders meeting, and perfo
At the same time, actively participate in relevant training and be familiar with relevant laws and regulations.
(4) About the supervisors and the board of supervisors: The board of supervisors of the company has 3 supervisors, including 1 employee supervisor. The number and composition of
The requirements of laws, regulations and the "Articles of Association". Supervisors can earnestly perform their duties in accordance with the requirements of the "Rules of Procedure of the B
Supervise the company's major matters, related transactions, financial status, and the legal compliance of directors and senior managers in performing their duties.
(5) Regarding performance evaluation and incentive and restraint mechanism: The company is improving the performance appraisal system and remuneration system for senior mana
Effective performance evaluation and incentive and restraint mechanism.
(6) Regarding information disclosure and transparency: the company strictly complies with relevant laws and regulations as well as the "Articles of Association" and "Administrative
And other requirements, to disclose relevant information truthfully, accurately, promptly, fairly and completely, appoint the secretary of the company’s board of directors to be responsible for
The relationship between the company and investors, receiving visits from shareholders, answering investor inquiries, and providing investors with information disclosed by the company; and
The Times, China Securities Journal, Securities Daily and Juchao Information Network (www.cninfo.com.cn) are designated newspapers for company information disclosure
And website to ensure that all shareholders of the company have equal opportunities to obtain information.
(7) Regarding stakeholders: The company fully respects and safeguards the legitimate rights and interests of stakeholders, and realizes shareholders, employees, society and other part
The coordination and balance of interests will jointly promote the company's sustainable and healthy development.
Whether there are significant differences between the actual status of corporate governance and the regulatory documents on listed company governance issued by the China Securities Regulatory Commission
□ Yes √ No
There is no major difference between the actual status of corporate governance and the regulatory documents on listed company governance issued by the China Securities Regulatory Commission.
2. The company's independence from the controlling shareholder in terms of business, personnel, assets, organization, and finance
Since its establishment and listing, the company has strictly followed the "Company Law", "Securities Law" and other relevant laws and regulations and the relevant requirements of the "Arti
Operation, independent of the company's largest shareholder in terms of business, assets, personnel, organization and finance.
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4. The relevant information of the annual general meeting and extraordinary general meeting held during the reporting period
Session Meeting type Investor participation ratio Date Disclosure date Disclosure Index
2019-031
2019-047
2. Preferred shareholders whose voting rights have been restored request an extraordinary general meeting
1. The attendance of independent directors at the board of directors and general meeting of shareholders
Peng Jianhua 5 3 2 0 0 No 1
Xu Jian 3 1 2 0 0 No 1
Deng Lei 3 1 2 0 0 No 0
Wang Hongbo 2 2 0 0 0 No 1
Deng Jiaming 2 2 0 0 0 No 1
Explanation of not attending the board of directors in person for two consecutive times
□ Yes √ No
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During the reporting period, independent directors raised no objections to the company's related matters.
Whether the independent director's suggestions on the company have been adopted
√ Yes □ No
Independent directors’ explanations on whether the company’s recommendations were adopted or not adopted
During the reporting period, the independent directors of the company based on the standpoint of independent judgment, in an attitude of being responsible to the company, all shareho
The principle of seeking truth from facts, serious and full due diligence, and active performance of duties, the specific matters of opinion are as follows:
6. The performance of duties by special committees under the board of directors during the reporting period
1. Remuneration and Appraisal Committee: 3 meetings were organized in 2019. Deliberated and passed the remuneration review of senior executives, the company has gradually
Establish effective performance evaluation standards and incentive and restraint mechanisms for senior managers; reviewed and approved the share incentive plan for partial incentive shares
Matters related to purchase and cancellation; reviewed and approved the 2019 option equity incentive plan.
2. Audit Committee: A total of 4 meetings were organized in 2019. Conducted the full text and summary of the company's 2018 annual report, and the 2018 internal audit
Situation, the first quarter report of 2019; the full text and summary of the 2019 semi-annual report; the third quarter report of 2019, etc. have been reviewed and participated in
The pre- and inter-communication and post-assessment work of the auditing accounting organization.
3. Strategy Committee: A total of 2 meetings were organized in 2019. Examined and approved the company's and various business units' strategic development plans for 2019 and the next thr
Plan, conducted in-depth analysis and research on the company’s industry, and proposed for the company’s business operation and new product development strategy planning and implement
Reasonable suggestions were made and important results were achieved.
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4. Nomination Committee: A total of 2 meetings were organized in 2019, and the company conducted a general election for the fourth board of directors, the board of supervisors and the seni
Perform duties in accordance with the "Working Rules of the Nomination Committee of the Board of Directors", conduct continuous review of personnel qualifications, and issue review opin
The board of supervisors discovered whether the company is at risk during the supervision activities during the reporting period
□ Yes √ No
The board of supervisors of the company has no objection to the supervision matters during the reporting period.
8. Evaluation and motivation of senior management
The company has formulated a salary management system in accordance with national laws and regulations and combined with actual conditions, established and improved the comp
Continuously improve the performance appraisal mechanism and incentive mechanism. The company’s senior management personnel are hired in strict accordance with the provisions and req
To ensure openness, transparency, and fairness. At the same time, the company’s board of directors has established a remuneration and evaluation committee, which is mainly responsible for
Performance appraisal.
1. Details of major deficiencies in internal control discovered during the reporting period
□ Yes √ No
The total assets of the units included in the evaluation scope account for the combined company
100.00%
Proportion of total financial statement assets
The operating income of the units included in the evaluation scope accounted for the combined company
100.00%
Percentage of financial statement operating income
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Not applicable
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Whether the company has publicly issued and listed on the stock exchange, and is not due on the date of approval of the annual report or cannot be fully redeemed at the due date
no
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1. Audit report
Audit institution name Lixin Certified Public Accountants (Special General Partnership)
1. Audit opinion
We audited the financial statements of Shenzhen Xinwei Communication Co., Ltd. (hereinafter referred to as Xinwei Communication), including the merger on December 31, 2019 and the parent company’s asset liability
Debt statement, 2019 consolidated and parent company income statement, consolidated and parent company cash flow statement, consolidated and parent company owner’s equity statement, and notes to relevant financial state
We believe that the attached financial statements are prepared in accordance with the Accounting Standards for Business Enterprises in all material aspects, and fairly reflect the merger of Xinwei Communication on Dece
And the financial status of the parent company, the merger in 2019 and the operating results and cash flow of the parent company.
We performed our audit in accordance with the Chinese Certified Public Accountants Auditing Standards. The "Certified Accountant’s Responsibility for the Audit of Financial Statements" section of the audit report furth
Explains our responsibilities under these guidelines. In accordance with the Code of Professional Ethics for Certified Public Accountants in China, we are independent of Xinwei Communications and have fulfilled other aspec
responsibility. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Key audit matters are matters that we consider to be the most important for the audit of the current financial statements based on professional judgment. These matters should be dealt with in the overall financial statemen
The audit and the formation of audit opinions are the background, and we do not express independent opinions on these matters. We determined that the following matters are key audit matters that need to be communicated in
Key audit matters How the matter was dealt with in the audit
Please refer to the attached note "V. Important Accounting Policies" 1. Understand and evaluate the relationship between management and the confirmation of bad debt provision for accounts receivable
And accounting estimates" (10) of the accounting policies and "7. Consolidated
Design effectiveness
financial of key internal controls of the
(5) Relevant content of "Notes to Report Items". The validity of the line;
2. Analyze the rationality of the accounting estimates for bad debt provision of accounts receivable, including
As of December 31, 2019, the accounts receivable in the consolidated financial
The basisstatements
for determining
of Xinwei
the combination
Communication
of accounts receivable, judgments of significant amounts, and provision
The original value was RMB 2,823,515,503.85, and the amount of badProportion,
debt provision
judgment
was of separate provision for bad debts, etc.;
RMB 38,121,208.28 yuan, the book balance is relatively high; if the accounts
3. Carryreceivable
out the account receivable letter certification procedure and the post-term payment check procedure, and evaluate
The bad debts that cannot be recovered on time or cannot be recoveredThe
willreasonableness
affect the financial
of provision
statements.
for bad debts of accounts receivable;
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The impact is relatively significant. For this reason, we determined that4.the provision
Calculate andforanalyze
bad debts of of the bad debt provision of accounts receivable to the balance of accounts receivable
the ratio
Key audit matters. For example, consider the industry and customer situation, and combine with Xinwei Communications in the previous years
Measure the actual amount and situation of bad debts of accounts receivable, and evaluate management
The reasonableness of the bad debt provision policy and provision ratio of accounts receivable;
Please refer to the attached note "V. Important Accounting Policies" 1. Understand and evaluate the key internal controls of management related to revenue recognition
And accounting estimates" (39) and "V. Consolidation Design effectiveness of the control system, and test the effectiveness of key control operations;
"Financial Statement Project Notes" (61) related content. 2. Select samples to check the sales contract and combine interviews with management,
Identify contracts related to the transfer of risks and rewards in product ownership
Analyze
5,032,533,082.45 yuan, because the income is the management of Xinwei and evaluate(with
Communication the time of risk and remuneration transfer, and evaluate when revenue is recognized
Accounting matters. 4. Select a sample of the income transactions recorded this year, perform inspection and collection
Enter the procedures for confirming relevant supporting documents, including sales contracts,
5. For the income transactions recorded before and after the balance sheet date, select samples
Support for checking outgoing orders, customer receipt orders, export declaration forms, etc.
period;
7. Evaluate the accuracy of income based on the correspondence of current payments and inventory
And completeness.
Revenue growth rate and discount rate used by the company. Goodwill c. Assess key parameters such as discount rate used by management;
Set up, especially for the long-term income growth rate and discount rate
Sex
May be affected by management’s bias, we will assess goodwill 4. Understand and evaluate the company's management using evaluation experts to reduce goodwill
The potential impairment of is identified as a key audit matter. Value test, obtain the goodwill impairment test report of the evaluation expert,
The combination of key assumptions and key parameters used in the evaluation report
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reason;
5. Check the company’s management’s disclosure of goodwill impairment in the financial report
Whether it meets the requirements of the Accounting Standards for Business Enterprises.
4. Other information
The management of Xinwei Communication (hereinafter referred to as the management) is responsible for other information. Other information includes the information covered in Xinwei Communication’s 2019 annual
Financial statements and our audit report.
Our audit opinions on the financial statements do not cover other information, and we do not issue any form of verification conclusions on other information.
Combined with our audit of the financial statements, our responsibility is to read other information. In this process, consider whether the other information is related to the financial statements or whether we have audited
There are major inconsistencies or major misstatements in the situation learned during the process.
Based on the work we have performed, if we determine that there is a material misstatement of other information, we should report that fact. In this regard, we have nothing to do
report.
The management is responsible for preparing financial statements in accordance with the provisions of the Accounting Standards for Business Enterprises to achieve fair reflection, and designing, implementing and maint
There are no major misstatements due to fraud or errors in the financial statements.
When preparing the financial statements, the management is responsible for assessing Xinwei Communication’s ability to continue operations, disclosing matters related to continuing operations (if applicable), and using
Operating assumptions, unless there is a plan to liquidate, terminate operations or have no other realistic options.
The governance layer is responsible for supervising the financial reporting process of Xinwei Communication.
Our goal is to obtain reasonable assurance as to whether there are no major misstatements due to fraud or errors in the overall financial statements, and to issue an audit report containing audit opinions.
Report. Reasonable assurance is a high-level assurance, but it does not guarantee that an audit performed in accordance with the auditing standards will always detect a major misstatement. Misreporting may be due to fraud
If it is reasonably expected that the misstatement, individually or collectively, may affect the financial statement users’ economic decisions based on the financial statements, the misstatement is generally considered
Considerable.
In the process of performing audit work in accordance with auditing standards, we use professional judgment and maintain professional skepticism. At the same time, we also perform the following tasks:
(1) Identify and assess the risk of material misstatement of financial statements due to fraud or errors, design and implement audit procedures to deal with these risks, and obtain adequate,
Appropriate audit evidence serves as the basis for the audit opinion. Since fraud may involve collusion, forgery, deliberate omission, false statement or overriding internal control,
The risk of failing to detect material misstatement due to fraud is higher than the risk of failing to detect material misstatement due to errors.
(2) Understand the internal control related to the audit to design appropriate audit procedures.
(3) Evaluate the appropriateness of the accounting policies used by the management and the reasonableness of accounting estimates and related disclosures.
(4) Draw conclusions on the appropriateness of management's use of going concern assumptions. At the same time, based on the obtained audit evidence, it may lead to
Force to reach a conclusion whether there are significant uncertainties in matters or circumstances that give rise to major doubts. If we conclude that there is significant uncertainty, the auditing standards require me
In the audit report, we remind report users to pay attention to the relevant disclosures in the financial statements; if the disclosure is not sufficient, we should issue a non-unqualified opinion. Our conclusion base
Information available as of the audit report date. However, future events or circumstances may cause Xinwei Communication to be unable to continue operations.
(5) Evaluate the overall presentation, structure and content of the financial statements, and evaluate whether the financial statements fairly reflect relevant transactions and events.
(6) Obtain sufficient and appropriate audit evidence on the financial information of entities or business activities in Xinwei Communication to express an audit opinion on the financial statements. We are responsible for
Guide, supervise and perform group audits, and assume full responsibility for the audit opinions.
We communicate with the management on the planned audit scope, timing and major audit findings, including communicating what we identified in the audit are worthy of attention
We also provide a statement to the governance that we have complied with the professional ethics requirements related to independence, and communicate with the governance that may be reasonably believed to affect ou
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Relations and other matters, and related preventive measures (if applicable).
From the matters communicated with the governance layer, we determine which matters are the most important to the audit of the financial statements of the current period, and thus constitute key audit matters. We are in
These matters are described in the report, unless laws and regulations prohibit public disclosure of these matters, or in rare cases, if it is reasonably expected that the communication of certain matters in the audit report will cau
The negative consequences outweigh the benefits in the public interest, and we determined that this matter should not be communicated in the audit report.
2. Financial statements
unit: yuan
Current assets:
Settlement provisions
Borrowed funds
Transactional financial assets
Measured at fair value and its changes are included in the current
Financial assets
Receivable financing
Premium receivable
Dividend receivable
Contract assets
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Non-current assets:
Debt investment
Long-term receivables
Right-of-use asset
Current liabilities:
Borrowed funds
Measured at fair value and its changes are included in the current
Financial liabilities
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Contract liabilities
Non-current liabilities:
Bonds payable
Perpetual bond
Lease liability
Long-term payables
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Owners' equity:
Perpetual bond
Special reserves
Legal representative: Peng Hao Person in charge of accounting work: Mao Dadong Person in charge of accounting department: Wang Li
unit: yuan
Current assets:
Measured at fair value and its changes are included in the current
Financial assets
Receivable financing
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Dividend receivable
Contract assets
Non-current assets:
Debt investment
Long-term receivables
Right-of-use asset
Goodwill
Current liabilities:
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Measured at fair value and its changes are included in the current
Financial liabilities
Contract liabilities
Non-current liabilities:
Bonds payable
Perpetual bond
Lease liability
Long-term payables
Owners' equity:
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Perpetual bond
Special reserves
unit: yuan
Interest income
Premiums earned
Interest expense
Surrender
Net payouts
Reinsurance costs
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Number)
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(1) Other comprehensives that cannot be reclassified into profit and loss
Combined income
2. Others that cannot be transferred to profit or loss under the equity method
His comprehensive income
5. Other
1. Others that can be transferred to profit and loss under the equity method
Comprehensive income
9. Other
In the current period of the merger of enterprises under the same control, the net profit realized by the merged party before the merger was RMB 0.00, and the net profit realized by the merged party in the previous period was R
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Legal representative: Peng Hao Person in charge of accounting work: Mao Dadong Person in charge of accounting department: Wang Li
Column)
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Comprehensive income
5. Other
Combined income
1. Others that can be converted to profit and loss under the equity method
His comprehensive income
9. Other
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unit: yuan
Cash received from selling goods and providing labor services 4,705,485,348.59 4,263,733,901.74
amount
amount
Cash paid for purchasing goods and receiving labor services 2,841,984,637.84 2,589,889,499.38
Net increase in loans and advances to customers
amount
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Net cash
Net cash
Dividends, profits
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Plus: the balance of cash and cash equivalents at the beginning of the period 935,301,658.28 1,214,190,935.89
6. Balance of cash and cash equivalents at the end of the period 439,222,778.97 935,301,658.28
unit: yuan
Cash received from selling goods and providing labor services 3,320,750,470.84 2,712,924,869.12
Cash paid for purchasing goods and receiving labor services 2,761,923,778.35 1,327,940,486.24
Net cash
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Plus: the balance of cash and cash equivalents at the beginning of the period 443,439,168.03 628,286,447.85
6. Balance of cash and cash equivalents at the end of the period 128,871,645.94 443,439,168.03
Current Amount
unit: yuan
2019 year
Policy change
Early stage
Error correction
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same
and
other
capital
4. other
55,131 -53,47
1,654, -300,0 1,354,
(3) Profit distribution ,597.4 7,130.
466.58 00.00 466.58
9 91
55,131 -55,13
1. Withdraw surplus
,597.4 1,597.
product
9 49
4. other
(4) Ownership
Internal carry-over
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this)
this)
3. Surplus reserve
Make up for losses
retained earnings
beneficial
6. other
1. Current withdrawal
unit: yuan
2018 year
Add: Accounting
Policy change
Early stage
Error correction
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same
and
other
capital
3. Share-based payment
Into owners' equity
Amount of
4. other
56,547 -56,54
1. Withdraw surplus
,194.1 7,194.
product
8 18
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(4) Owner
this)
this)
3. Surplus reserve
Make up for losses
retained earnings
beneficial
6. other
Prepare
1. Current withdrawal
(6) Other
Current Amount
unit: yuan
2019 year
975,59 1,305,2
1. The balance at the end of the previous year 297,960, 149,029, 168,397, 2,598,137,
5,304.0 13,111.
amount 782.68 258.86 144.03 083.45
0 60
Policy change
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Early stage
Error correction
other
975,59 1,305,2
2. The balance at the beginning of the year 297,960, 149,029, 168,397, 2,598,137,
5,304.0 13,111.
amount 782.68 258.86 144.03 083.45
0 60
551,31
(1) Comprehensive income 551,315,9
5,974.8
lump sum 74.85
5
capital
3. Share-based payment
14,064,8 14,064,86
Into owners' equity
63.00 3.00
Amount of
4. other
3. other
(4) Ownership
Internal carry-over
this)
this)
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3. Surplus reserve
Make up for losses
retained earnings
beneficial
6. other
1. Current withdrawal
968,63 1,803,0
Fourth, the balance at the end of the period 237,533, 67,582,2 223,528, 3,165,172,
9,966.0 51,955.
amount 975.70 50.88 741.52 387.88
0 54
unit: yuan
2018 year
982,83
1. The balance at the end of the previous year 375,494 233,801, 111,849 873,974,0 2,110,350,7
4,638.
amount ,049.82 860.00 ,949.85 21.65 99.32
00
Policy change
Early stage
Error correction
other
982,83
2. The balance at the beginning of the year 375,494 233,801, 111,849 873,974,0 2,110,350,7
4,638.
amount ,049.82 860.00 ,949.85 21.65 99.32
00
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capital
3. Share-based payment
Into owners' equity
Amount of
4. other
3. other
(4) Ownership
Internal carry-over
this)
this)
3. Surplus reserve
Make up for losses
retained earnings
beneficial
6. other
1. Current withdrawal
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(6) Other
975,59
Fourth, the balance at the end of the period 297,960 149,029, 168,397 1,305,213 2,598,137,0
5,304.
amount ,782.68 258.86 ,144.03 ,111.60 83.45
00
Shenzhen Xinwei Communication Co., Ltd. (hereinafter referred to as the "Company" or "Company") was registered and established on November 9, 2009 with the approval of the Shenzhen Municipal Market Supervisio
Co., Ltd., approved by the China Securities Regulatory Commission "Zheng Jian Li [2010] No. 1401" on October 12, 2010, the company’s first public development to the public
16.67 million shares of RMB common stocks were approved by the Shenzhen Stock Exchange "Notice on the Listing of RMB Common Stocks of Shenzhen Xinwei Communication Co., Ltd. on the Growth Enterprise Market
(Shenzhen Securities Shang [2010] No. 352) agreed that the RMB common stocks issued by the company are listed on the Growth Enterprise Market of the Shenzhen Stock Exchange. The stock abbreviation is "Xinwei Comm
Code "300136".
On April 29, 2011, after the eighth meeting of the first board of directors and the 2010 annual general meeting of shareholders, the company transferred capital reserves to all shareholders for every 10 shares.
10 shares, the total share capital increased from 66,670,000 shares to 133,340,000 shares.
On September 5, 2013, the fourth (temporary) meeting of the second board of directors, the fifth (temporary) meeting of the second board of directors, and the second extraordinary general meeting of shareholders in 2013
After deliberation, the company granted 3.685 million restricted shares, and the total share capital increased from the original 133,340,000 shares to 137,025,000 shares.
On April 14, 2014, after the eighth (temporary) meeting of the second board of directors and the second extraordinary general meeting of shareholders in 2013, the company granted restricted shares of 30.00
Million shares, the total share capital increased from 137,025,000 shares to 137,325,000 shares.
On July 8, 2014, after the ninth meeting of the second board of directors, the company repurchased and cancelled the previously granted 1,195,500 restricted shares. The total share capital was
The original 137,325,000 shares were reduced to 136,129,500 shares.
On July 17, 2014, after the ninth meeting of the second board of directors and the 2013 annual general meeting of shareholders, the company used capital reserves to transfer every 10 shares to all shareholders.
10 shares, the total share capital increased from 136,129,500 shares to 272,259,000 shares.
On June 3, 2015, after the sixteenth meeting of the second board of directors and the 2014 annual general meeting of shareholders, the company transferred capital reserves to all shareholders for every 10 shares
10 shares, the total share capital increased from the original 272,259,000 shares to 544,518,000 shares.
On August 6, 2015, after the 11th (temporary) meeting of the second board of directors, the 15th (temporary) meeting of the second board of directors, and the first temporary shareholder meeting in 2015
The meeting reviewed and approved that the company acquired Shenzhen Yalisheng Connector Co., Ltd., of which 41,884,816 additional shares were issued for the purchase of assets, non-publicly issued shares
It was 9,424,083 shares. A total of 51,308,899 shares, and the total share capital increased from the original 544,518,000 shares to 595,826,899 shares.
On November 6, 2015, after the eighteenth meeting of the second board of directors, the company exercised 2.286 million stock options, and the total share capital was changed from the original
On January 26, 2016, after the eighteenth meeting of the second board of directors, the company exercised 264,000 stock options, and the total share capital was increased from the original 598,112,899
The number of shares increased to 598,376,899 shares.
On May 24, 2016, after the 21st meeting of the second board of directors and the 2015 annual general meeting of shareholders, the company used the capital reserve to provide every 10 shares to all shareholders.
6 shares were transferred and the total share capital increased from 598,376,899 shares to 957,403,038 shares.
On November 29, 2016, after the first meeting of the third board of directors, the company exercised 3.4176 million stock options, and the total share capital was changed from the original
On March 10, 2017, after the sixth meeting of the third board of directors and the first extraordinary general meeting of shareholders in 2016, the company granted 19,966,000 restricted shares.
The total share capital increased from the original 960,820,638 shares to 980,786,638 shares.
On April 28, 2017, after the first meeting of the third board of directors, the company exercised 2.048 million stock options, and the total share capital was increased from the original 980,786,638
The number of shares increased to 982,834,638 shares.
On September 19, 2018, after the eighteenth meeting of the third board of directors and the 2017 annual general meeting of shareholders, the company repurchased and cancelled the 723.9334 previously granted
10,000 restricted shares, and the total share capital was reduced from 982,834,638 shares to 975,595,304 shares.
On July 17, 2019, after the 22nd meeting of the third board of directors and the 2018 annual general meeting of shareholders, the company repurchased and cancelled the previously granted
With 6,955,338 restricted shares, the total share capital was reduced from 975,595,304 shares to 968,639,966 shares.
As of December 31, 2019, the company has issued a total of 968,639,966.00 shares with a registered capital of 968,639,966.00 yuan, holding a unified social credit
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Corporate business license with code 914403007883357614, registered place: Building A and B, No. 1013, Xihuan Road, Shajing Street, Baoan District, Shenzhen .
The company’s main business activities are: mobile terminal antennas, 3G terminal antennas, module antennas, 3D precision molded antennas, high-performance antenna connectors, audio modules
Design, technology development, production and sales; domestic commerce, material supply and marketing, import and export of goods and technology. (The above items do not include laws, administrative regulations, and d
The controlling shareholder and actual controller of the company is Peng Hao, a natural person.
This financial statement was approved and reported by all directors of the company on April 16, 2020.
The scope of the company’s consolidated financial statements includes Xinwei Chuangke Communication Technology (Beijing) Co., Ltd., Hong Kong Xinwei Communication Co., Ltd., Shenzhen Yalisheng Connector Co
Company, Shenzhen Aliment Technology Co., Ltd., Yi Gaode Surface Treatment (Shenzhen) Co., Ltd., Shenzhen Jingxin Tongfeng Communication Technology Co., Ltd., Xinwei Communication (Jiangsu)
Su) Co., Ltd., Shenzhen Xinwei Microelectronics Co., Ltd., Mianyang Beidou Electronics Co., Ltd., Shenzhen Xinwei Precision Connector Co., Ltd., Xinwei Communication Japan Co., Ltd.
Club, Jiangsu Sunshine and Road Electronic Technology Co., Ltd., Jiangsu Xinwei Intelligent Automobile Interconnection Technology Co., Ltd. Hong Kong Xinwei Communications Limited includes Sunway
Communication AB, Sunway Communication INC, Sunway Communication Korea Co., LTD, SUNWAY COMMUNICATION
VIET NAM COMPANY LIMITED, Nuoying International Co., Ltd. Shenzhen Yalisheng Connector Co., Ltd. has a wholly-owned subsidiary named Yalisheng Technology (Hong Kong
Hong Kong) Limited.
Among them: Jiangsu Xinwei Intelligent Automobile Interconnection Technology Co., Ltd. is a newly established subsidiary company, SUNWAY COMMUNICATION VIET NAM COMPANY
1. Preparation basis
The company is based on continuous operations, based on actual transactions and events, in accordance with the "Accounting Standards for Business Enterprises-Basic Standards" promulgated by the Ministry of Finance
Accounting Standards, Guidelines for the Application of Accounting Standards for Business Enterprises, Interpretation of Accounting Standards for Business Enterprises and other relevant regulations (hereinafter collectively
The Committee prepares financial statements according to the disclosure requirements of the "Regulations No. 15 for the Information Disclosure and Reporting of Companies Offering Securities to the Public-General Provisio
2. Continuous operation
The company has the ability to continue operations within 12 months from the end of the reporting period, and there are no major events that affect the ability to continue operations.
The following disclosures have covered the specific accounting policies and accounting estimates formulated by the company based on actual production and operation characteristics.
This financial statement complies with the requirements of the Accounting Standards for Business Enterprises promulgated by the Ministry of Finance, and truly and completely reflects the company’s merger and parent c
Status, the merger and the operating results and cash flow of the parent company in 2019.
2. Accounting period
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3. Business cycle
5. Accounting treatment methods for business combinations under the same control and not under the same control
The assets and liabilities acquired by the merging party in a business combination are based on the assets and liabilities of the merged party on the merger date (including the goodwill formed by the ultimate controlling pa
The book value measurement in the consolidated financial statements of the ultimate controlling party. The book value of the net assets obtained in the merger and the book value of the combined consideration paid (or the
(Total value), adjust the equity premium in the capital reserve, if the equity premium in the capital reserve is not enough to offset, adjust the retained earnings.
The purchaser’s assets paid as consideration for the business combination, liabilities incurred or assumed on the purchase date are measured at fair value, and the difference between the fair value and its book value,
Included in the current profit and loss. The difference between the merger cost greater than the fair value of the acquiree’s identifiable net assets obtained in the merger is recognized as goodwill; the merger cost is less than the
The difference between the acquired fair value share of the identifiable net assets of the acquiree shall be included in the current profit and loss. The direct related expenses incurred for the business combination shall be includ
The transaction costs of issuing equity securities or debt securities for a business combination are included in the initial confirmation amount of equity securities or debt securities.
The directly related expenses incurred for a business combination are included in the current profit and loss when they occur; the transaction costs of issuing equity securities or debt securities for a business combination a
The consolidation scope of the consolidated financial statements is determined on the basis of control. The consolidation scope includes the company and all subsidiaries.
The company prepares consolidated financial statements based on the financial statements of itself and its subsidiaries and other relevant information. The company prepares consolidated financial statements and will
An enterprise group is regarded as an accounting entity, in accordance with the confirmation, measurement and presentation requirements of the relevant enterprise accounting standards, and in accordance with unified account
The accounting policies and accounting periods adopted by all subsidiaries included in the consolidation scope of the consolidated financial statements are consistent with those of the company, such as the accounting poli
If the period is inconsistent with the company, when preparing consolidated financial statements, necessary adjustments shall be made in accordance with the company's accounting policies and accounting period. For compani
Subsidiaries acquired through the merger shall adjust their financial statements on the basis of the fair value of the identifiable net assets on the purchase date. For subsidiaries acquired through a business combination under th
Based on the book value of its assets and liabilities (including the goodwill formed by the ultimate controlling party’s acquisition of the subsidiary) in the ultimate controlling party’s financial statements
Line adjustment.
The minority shareholders’ share of the subsidiary’s owner’s equity, current net profit and loss and current comprehensive income are listed under the owner’s equity item in the consolidated balance sheet, and
And separately listed under the net profit item and the total comprehensive income item in the income statement. The current loss shared by the minority shareholders of the subsidiary exceeds the
The balance formed by the share in the owner's equity is offset against the deductible shareholder's equity.
The income, expenses, and profits from the beginning of the period to the end of the reporting period are included in the consolidated income statement; the cash flow of the subsidiary or business combination from the beginn
At the same time, the relevant items of the comparative report are adjusted for the flow table, and it is deemed that the merged reporting entity has existed since the point when the ultimate controlling party began to control.
If it is possible to control the investee under the same control due to additional investment, etc., the parties involved in the merger shall be deemed to use the current
The state exists to adjust. The equity investment held before acquiring the control of the merged party is under the same control as the merging party and the merged party on the date of acquiring the original equity
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The relevant profit and loss, other comprehensive income and changes in other net assets have been confirmed between the later of the day and the date of consolidation, respectively, to offset the initial retained earnings or cur
During the reporting period, if a subsidiary or business is added due to a business combination not under the same control, the opening balance of the consolidated balance sheet shall not be adjusted;
The income, expenses, and profits from the purchase date to the end of the reporting period are included in the consolidated income statement; the cash flow of the subsidiary or business from the purchase date to the end of the
table.
If it is possible to exercise control over an investee who is not under the same control due to additional investment or other reasons, the company shall follow the
The fair value of the equity on the purchase date is remeasured, and the difference between the fair value and its book value is included in the current investment income. Shares of the purchased party held before the purchase
If the right involves other comprehensive income under the equity method, and other changes in owner’s equity other than net profit and loss, other comprehensive income and profit distribution, other related
Changes in other comprehensive income and other owners’ equity are converted into investment income for the current period on the purchase date, as the investee remeasures the net liabilities or net assets of the defined bene
When it loses control of the investee due to the disposal of part of the equity investment or other reasons, for the remaining equity investment after the disposal, the company shall follow its loss of control
The fair value on the date is remeasured. The sum of the consideration obtained from the disposal of the equity and the fair value of the remaining equity, minus the original shareholding ratio, shall enjoy the
The difference between the share of net assets and the sum of goodwill calculated continuously from the purchase date or the merger date is included in the investment income of the current period of loss of control. Equity in
Asset-related other comprehensive income or other changes in owner’s equity other than net profit and loss, other comprehensive income and profit distribution, shall be transferred to current investment when control is lost
Income, except for other comprehensive income arising from the investee's re-measurement of the defined benefit plan's net liabilities or changes in net assets.
If the company loses control due to the increase of capital by other investors in the subsidiary, the accounting treatment shall be conducted in accordance with the above principles.
If the equity investment in a subsidiary is disposed of step by step through multiple transactions until the loss of control, the terms, conditions and economics
The impact meets one or more of the following conditions, which usually indicate that multiple transactions should be accounted for as a package transaction:
Ⅰ. These transactions are concluded at the same time or taking into account the influence of each other;
Ⅲ. The occurrence of one transaction depends on the occurrence of at least one other transaction;
Ⅳ. A transaction alone is not economical, but it is economical when considered together with other transactions.
If the various transactions involving the disposal of equity investments in subsidiaries until the loss of control are a package transaction, the company treats each transaction as a disposal of the subsidiary and loses control
The transaction of control rights is subject to accounting treatment; however, the difference between each disposal price and the disposal investment corresponding to the share of the subsidiary’s net assets before the loss of co
It is recognized as other comprehensive income in the consolidated financial statements and transferred to the current profit and loss of the loss of control when the control is lost.
If the various transactions involving the disposal of equity investment in the subsidiary until the loss of control are not a package transaction, before the loss of control, it shall be subject to the condition of not losing contr
Partial disposals are accounted for in relation to the relevant policies of the equity investment of the subsidiary; when the control is lost, the accounting treatment is performed according to the general treatment of the disposal
The difference between the calculated shares of net assets shall be adjusted to the equity premium in the capital reserve in the consolidated balance sheet. If the equity premium in the capital reserve is not
Deposit income.
The difference between the company’s continuous calculation of the share of net assets since the purchase date or the merger date shall be adjusted for the equity premium in the capital reserve in the consolidated balance sheet
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7. Classification of joint arrangements and accounting treatment methods for joint operations
Joint venture arrangements are divided into joint operations and joint ventures.
When the company is a joint venture party of a joint arrangement, enjoys the related assets of the arrangement and assumes the related liabilities of the arrangement, it is a joint operation.
The company confirms the following items related to the share of interests in joint operations, and conducts accounting treatment in accordance with the relevant enterprise accounting standards:
(1) Confirm the assets held by the company alone, and confirm the assets held jointly by the company's shares;
(2) Confirm the liabilities borne by the company alone, and the liabilities jointly borne by the company's shares;
(3) Confirm the income generated by selling the share of joint operating output enjoyed by the company;
(4) Recognize the income from the sale of output from joint operations based on the company's share;
(5) Confirm the expenses incurred individually and the expenses incurred in joint operations based on the company's share.
When preparing the cash flow statement, the company’s cash on hand and deposits that can be used for payment at any time are recognized as cash. Will have a short period at the same time (from the date of purchase thre
The investment with the four conditions of maturity within a month), strong liquidity, easy conversion into known cash, and low risk of value changes shall be determined as cash equivalents.
Foreign currency business uses the spot exchange rate on the transaction date as the translation exchange rate to convert the foreign currency amount into RMB for bookkeeping.
The balance of monetary items in foreign currencies on the balance sheet date is converted at the spot exchange rate on the balance sheet date, and the resulting exchange differences, except for the purchase and constructi
Foreign currency exchange differences arising from special foreign currency borrowings related to assets are treated in accordance with the principle of capitalization of borrowing costs, and are included in the current profit an
The assets and liabilities items in the balance sheet are converted at the spot exchange rate on the balance sheet date; the owners’ equity items except for the "undistributed profit" items, other items
Projects are converted using the spot exchange rate at the time of occurrence. The income and expense items in the income statement use the spot exchange rate on the transaction date.
When disposing of an overseas operation, the foreign currency financial statement translation difference related to the overseas operation shall be transferred from the owner’s equity item to the current profit and loss of th
10. Financial instruments
Financial instruments include financial assets, financial liabilities and equity instruments.
According to the company’s business model for managing financial assets and the contractual cash flow characteristics of financial assets, financial assets are classified at the time of initial recognition: measured at amorti
Financial assets measured at fair value with changes included in other comprehensive income (debt instruments), and financial assets measured at fair value with changes included in current profit and loss
Of financial assets.
The business model is to collect contractual cash flow as the goal, and the contractual cash flow is only the payment of principal and interest based on the outstanding principal amount, classified as
Financial assets measured at amortized cost; the business model aims at both collecting contractual cash flow and selling the financial asset, and the contractual cash flow is only for the principal and
The payment of interest based on the amount of repayment of the principal is classified as financial assets (debt instruments) measured at fair value and whose changes are included in other comprehensive income; except for t
Other financial assets are classified as financial assets measured at fair value and whose changes are included in the current profit and loss.
For non-trading equity instrument investments, the company determines at the initial recognition whether to designate them as funds measured at fair value and whose changes are included in other comprehensive income
At the time of initial recognition, in order to eliminate or significantly reduce accounting mismatches, financial assets can be designated as financial assets that are measured at fair value and whose changes are included in
Financing property.
At the time of initial recognition, financial liabilities are classified into: financial liabilities measured at fair value and whose changes are included in the current profit and loss and financial liabilities measured at amortize
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Financial liabilities that meet one of the following conditions can be designated as financial liabilities that are measured at fair value and whose changes are included in current profits and losses at the time of initial measu
2) According to the corporate risk management or investment strategy stated in the formal written documents, the financial liability portfolio or the combination of financial assets and financial liabilities is based on fair v
Carry out management and performance evaluation, and report to key management personnel on this basis within the company.
3) The financial liabilities include embedded derivatives that need to be separated separately.
Financial assets or financial liabilities and directly designated as financial assets or financial liabilities that are measured at fair value and whose changes are included in the current profits and losses; held-to-maturity investme
Relevant transaction costs are included in the initial confirmation amount; accounts receivable that do not contain significant financing components and the company has decided not to consider receivables for financing compo
Accounts are initially measured at the contract transaction price. The interest calculated by the effective interest method during the holding period is included in the current profit and loss. At the time of recovery or disposal, th
The difference between the book value of the financial asset is included in the current profit and loss.
2) Financial assets (debt instruments) measured at fair value and whose changes are included in other comprehensive income
Financial assets (debt instruments) that are measured at fair value and whose changes are included in other comprehensive income include financing of receivables, other debt investments, etc., at fair value
Perform initial measurement, and related transaction costs are included in the initial confirmation amount. The financial assets are subsequently measured at fair value, and changes in fair value are calculated using the actual in
Except for calculated interest, impairment losses or gains and exchange gains and losses, they are all included in other comprehensive income. At the time of derecognition, the accumulated gains or losses previously included
The transfer from other comprehensive income shall be included in the current profit and loss.
3) Financial assets (equity instruments) measured at fair value and included in other comprehensive income
Financial assets (equity instruments) that are measured at fair value and whose changes are included in other comprehensive income, including investments in other equity instruments, are initially calculated at fair value
The related transaction costs are included in the initial confirmation amount. The financial assets are subsequently measured at fair value, and changes in fair value are included in other comprehensive income. Dividends
When the recognition is terminated, the accumulated gains or losses previously included in other comprehensive income are transferred from other comprehensive income and included in retained earnings.
4) Financial assets measured at fair value and whose changes are included in the current profit and loss
Financial assets that are measured at fair value and whose changes are included in the current profit and loss include transactional financial assets, derivative financial assets, and other non-current financial assets.
The fair value is initially measured, and related transaction costs are included in the current profit and loss. The financial assets are subsequently measured at fair value, and changes in fair value are included in the current prof
5) Financial liabilities measured at fair value and whose changes are included in the current profit and loss
Financial liabilities that are measured at fair value and whose changes are included in the current profit and loss include transactional financial liabilities, derivative financial liabilities, etc., and are initially measured at fai
Related transaction costs are included in the current profit and loss. The financial liabilities are subsequently measured at fair value, and changes in fair value are included in the current profit and loss. When the confirmation i
The difference between the payment and the consideration is included in the current profit and loss.
The fair value is initially measured, and related transaction costs are included in the initial confirmation amount. The interest calculated by the effective interest method during the holding period is included in the current profit
The difference between the consideration paid and the book value of the financial liability is included in the current profit and loss.
Accounting policies applicable before January 1, 2019
1) Financial assets (financial liabilities) measured at fair value and whose changes are included in the current profit and loss
The fair value (deducting cash dividends that have been declared but not yet paid or bond interest that has expired but has not been received) is used as the initial confirmation amount when it is obtained.
The transaction costs are included in the current profit and loss. Interest or cash dividends obtained during the holding period are recognized as investment income, and changes in fair value are included in the current profit an
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The difference between the fair value and the initial entry amount is recognized as investment income, and the gains and losses from changes in the fair value are adjusted at the same time.
2) Held-to-maturity investment
At the time of acquisition, the sum of the fair value (deducting the bond interest that has expired but has not been received) and the relevant transaction costs shall be used as the initial confirmation amount. During the ho
The remaining cost and the actual interest rate are calculated to confirm the interest income and included in the investment income. The actual interest rate is determined at the time of acquisition and maintained during the exp
constant. At the time of disposal, the difference between the price obtained and the book value of the investment is included in the investment income.
3) Accounts receivable
The debts receivable formed by the company’s external sales of goods or the provision of labor services, and the debts of other companies held by the company that do not include debt instruments that are quoted in the ac
Rights, including accounts receivable, other receivables, etc., with the contract or agreement price receivable from the purchaser as the initial confirmation amount; if it is of a financing nature, the current value
Initial confirmation. At the time of recovery or disposal, the difference between the acquired price and the book value of the receivable is included in the current profit and loss.
Initial confirmation amount. The interest or cash dividends obtained during the holding period are recognized as investment income. Measured at fair value at the end of the period and changes in fair value are included in othe
beneficial. However, equity instrument investments that do not have a quoted price in an active market and whose fair value cannot be reliably measured, and are linked to the equity instrument and must be delivered through
Derivative financial assets settled by instruments are measured at cost. At the time of disposal, the difference between the price obtained and the book value of the financial asset is included in the investment profit and loss; at
The accumulated amount of fair value changes originally directly included in other comprehensive income shall be transferred out of the amount corresponding to the disposal part and included in the current profit and loss.
When the company transfers financial assets, if almost all the risks and rewards in the ownership of the financial assets have been transferred to the transferee, the confirmation of the financial assets will be terminated;
If almost all the risks and rewards of the ownership of the financial asset are retained, the recognition of the financial asset will not be terminated. In determining whether the transfer of financial assets meets the above financia
When confirming the conditions for the termination of a property, the principle of substance over form is adopted. The company divides the transfer of financial assets into overall transfer and partial transfer of financial assets
If the transfer meets the conditions for termination of confirmation, the difference between the following two amounts shall be included in the current profit and loss:
2) The consideration received as a result of the transfer is compared with the accumulated amount of fair value changes that were directly included in the owner’s equity (the financial assets involved in the transfer are m
The changes are included in the sum of other comprehensive income financial assets (debt instruments) and available-for-sale financial assets.
If the partial transfer of financial assets meets the conditions for derecognition, the book value of the transferred financial assets as a whole is between the derecognized part and the unterminated confirmation part,
Apportion is made according to their respective relative fair values, and the difference between the following two amounts is included in the current profit and loss:
2) The consideration of the derecognized part is the same as the amount of the derecognized part in the accumulated amount of fair value changes originally directly included in the owner’s equity (involving the transferr
Financing assets are the sum of financial assets (debt instruments) and available-for-sale financial assets that are measured at fair value and whose changes are included in other comprehensive income.
If the transfer of financial assets does not meet the conditions for termination of recognition, the financial assets shall continue to be recognized, and the received consideration shall be recognized as a financial liability.
If the current obligations of financial liabilities have been discharged in whole or in part, the recognition of the financial liabilities or part of the financial liabilities shall be terminated; if the company signs an agreement w
If the new financial liability method replaces the existing financial liability, and the contract terms of the new financial liability and the existing financial liability are substantially different, the existing financial liability shall b
At the same time, new financial liabilities are confirmed. If a substantial modification is made to all or part of the existing financial liabilities, the confirmation of the existing financial liabilities or part of it shall be terminated,
The financial liability after the revised terms is recognized as a new financial liability. When financial liabilities are fully or partially derecognized, the book value of the derecognized financial liabilities and payment pair
The difference between the price (including non-cash assets transferred out or new financial liabilities assumed) is included in the current profit and loss. If the company repurchases part of the financial liabilities, the
According to the relative fair value of the continued confirmation part and the derecognized part, the overall book value of the financial liability is allocated. Book value allocated to derecognition
The difference between the payment and the consideration (including non-cash assets transferred out or new financial liabilities assumed) is included in the current profit and loss.
(5) Methods for determining the fair value of financial assets and financial liabilities
For financial instruments that have an active market, their fair value is determined based on the quoted prices in the active market. For financial instruments that do not have an active market, valuation techniques are used
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Fair value. At the time of valuation, the company adopts valuation techniques that are applicable under current circumstances and have sufficient data and other information to support, and choose to cooperate with market part
The input value that is consistent with the characteristics of the asset or liability considered in the transaction of the relevant asset or liability, and the relevant observable input value is preferentially used. Only relevant observa
The unobservable input value is used when the value cannot be obtained or is not feasible.
(6) Testing methods and accounting treatment methods for impairment of financial assets
The company considers all reasonable and evidence-based information, including forward-looking information, in a single item or a combination of financial assets measured at amortized cost and fair value
Estimate the expected credit losses of financial assets (debt instruments) whose value is measured and whose changes are included in other comprehensive income. The measurement of expected credit losses depends on financ
Whether there has been a significant increase in credit risk since the initial confirmation.
If the credit risk of the financial instrument has increased significantly since the initial confirmation, the company shall use the amount equivalent to the expected credit loss during the entire duration of the financial instru
Measure its loss reserves; if the credit risk of the financial instrument has not increased significantly since the initial confirmation, the company shall calculate the financial instrument’s expectations in the next 12 months
The amount of credit loss measures its loss reserve. The resulting increase in the loss reserve or the amount reversed shall be included in the current profit and loss as an impairment loss or gain.
Usually more than 90 days overdue, the company believes that the credit risk of the financial instrument has increased significantly, unless there is conclusive evidence that the credit risk of the financial instrument has be
If the credit risk of a financial instrument is low on the balance sheet date, the company believes that the credit risk of the financial instrument has not increased significantly since the initial recognition.
If there is objective evidence that a certain financial asset has been credit-impaired, the company will make provision for impairment of the financial asset on a single-item basis.
Regarding accounts receivable, regardless of whether it contains a major financing component, the company always measures its loss reserves at an amount equivalent to expected credit losses during the entire duration.
For lease receivables and long-term receivables formed by the company through sales of goods or services, the company always chooses to always follow the expected credit
If there is objective evidence that a certain financial asset is impaired, an impairment provision shall be made.
If it is determined that it has been impaired, the accumulated loss caused by the decline in the fair value that was directly included in the owner’s equity shall be transferred out, and the impairment loss shall be recognized.
For available-for-sale debt instruments for which impairment losses have been confirmed, the fair value has risen in the subsequent accounting period and has occurred objectively after the confirmation of the original im
If the event is related, the originally recognized impairment loss shall be reversed and included in the current profit and loss.
Impairment losses incurred from investments in available-for-sale equity instruments are not reversed through profit or loss.
Judgment basis or amount standard for a single significant amount: For a receivable with a single amount of RMB 5 million or more, it is recognized as a single significant amount.
The method of accruing a single significant amount and separately accruing bad debt provision: conduct a separate impairment test, and confirm the reduction based on the difference between its future cash flow and its b
②According to the combination of credit risk characteristics, bad debt provision accounts receivable:
The method of accruing bad debt provision according to the combination of credit risk characteristics
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In the portfolio, the provision for bad debts is made using the aging analysis method:
Aging Provision ratio of accounts receivable (%)Withdrawal ratio of other receivables (%)
Within 6 months
6 months to 1 year 10 10
1--2 years 30 30
2--3 years 50 50
Reasons for separate provision for bad debts: receivables such as litigation, bankruptcy or death of the debtor.
The method of accruing bad debt provision: conduct a separate impairment test, confirm the impairment loss based on the difference between the present value of its future cash flow and its book value, and accrue bad d
Account preparation.
The company’s determination method and accounting treatment method for the expected credit loss of bills receivable are detailed in this Note V. 10(6) Test method for impairment of financial assets and
When it is impossible to assess sufficient evidence of expected credit loss at a reasonable cost at the level of individual instruments, the company refers to historical credit loss experience, combined with current condition
To judge future economic conditions, divide the notes receivable into several combinations based on the characteristics of credit risk, and calculate expected credit losses on the basis of the combination. Determine the basis of
as follows:
Bank acceptance notes portfolioNote type The company believes that the credit risk of the portfolio has not increased significantly since the initial confirmation, and will not cause major losses due to default
For the determination method and accounting treatment method of the company's expected credit loss on accounts receivable, please refer to Note 5, 10(6), Financial Asset Impairment Test Method and Accounting Departmen
理method.
The company separately determines its credit losses for accounts receivable that are individually significant or insignificant, and credit impairment has occurred after initial recognition.
When it is impossible to assess sufficient evidence of expected credit losses at a reasonable cost at the level of individual instruments, the company refers to historical credit loss experience, combined with current conditions a
Based on the judgment of economic conditions, the accounts receivable are divided into several combinations based on the characteristics of credit risk, and expected credit losses are calculated on the basis of the combination
Combination 1: Aging combination Risk characteristics Comparison table of expected credit loss rate based on aging and entire duration
Accrual
Combination 2: Special risk combination Risk characteristics Refer to historical credit loss experience, combined with current conditions
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And the expected measurement of bad debts for future economic conditions
Prepare
For the determination method and accounting treatment method of the expected credit loss of the company's financing of receivables, please refer to this Note V. 10, (6) Test method and meeting for impairment of financial ass
Determination method and accounting treatment method of expected credit loss of other receivables
For the determination method and accounting treatment method of the company’s expected credit loss of other receivables, please refer to this Note V. 10(6), Financial Asset Impairment Test Method and Accounting
Approach.
The company separately determines its credit losses for other receivables that are individually significant and whose credit impairment has occurred after initial confirmation.
When sufficient evidence of expected credit loss cannot be assessed at a reasonable cost at the level of individual instruments, the company refers to historical credit loss experience, combined with current conditions and
To judge future economic conditions, other receivables are divided into several combinations based on credit risk characteristics, and expected credit losses are calculated on the basis of the combination. Determine the combin
Receivable Risk exposure and the next 12 months or the entire duration
Combination 2: Deposit combination The company believes that the credit risk of the portfolio has been
Combination 3: Export tax rebate combination No significant increase after confirmation, no production due to default
Heavy losses
Combination 4: Payment of Social Security Provident Fund and employee debits
15. Inventory
Inventory is classified into: raw materials, turnover materials, inventory goods, products in progress, goods dispatched, materials for entrusted processing, etc.
The inventory is priced according to the weighted average method when it is delivered.
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(3) The basis for determining the net realizable value of different types of inventories
In the normal production and operation process, the estimated selling price of the inventory shall be deducted from the estimated selling price of the finished goods, inventory, and materials used for sale.
The net realizable value is determined after the calculated sales expenses and related taxes and fees; the inventory of materials that need to be processed, in the normal production and operation process, is based on the products
The estimated selling price of the finished product minus the estimated cost, estimated sales expenses and related taxes and fees at the time of completion, to determine its net realizable value;
The net realizable value of inventory held under contract or labor service contract is calculated based on the contract price. If the quantity of inventory held is more than the quantity ordered by the sales contract, the
The net realizable value of part of the inventory is calculated based on the general sales price.
At the end of the period, provision for inventory depreciation is made based on a single inventory item; but for inventory with a large quantity and low unit price, provision for inventory depreciation is made based on the
Inventories that are related to product series produced and sold in the same area, have the same or similar end use or purpose, and are difficult to measure separately from other items, shall be combined
Except for clear evidence that the market price on the balance sheet date is abnormal, the net realizable value of inventory items is determined on the basis of the market price on the balance sheet date. Current period
The net realizable value of the final inventory items is based on the market price on the balance sheet date
The company classifies non-current assets or disposal groups that meet the following conditions as held for sale:
(1) According to the practice of selling such assets or disposal groups in similar transactions, they can be sold immediately under current conditions;
(2) The sale is very likely to happen, that is, the company has made a resolution on a sale plan and obtained a confirmed purchase commitment, and the sale is expected to be completed within one year. Have
Where relevant regulations require the company’s relevant authority or regulatory authority to approve the sale, approval has been obtained.
Joint ventures.
Significant influence refers to the power to participate in the financial and operating decision-making of an enterprise, but cannot control or jointly control these policies with other parties
The formulation. If the company is able to exert a significant influence on the investee, the investee is an associated company of the company.
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The initial investment cost of the long-term equity investment is based on the share of the book value of the acquired owner’s equity of the combined party in the ultimate controlling party’s consolidated financial statements on
If additional investment and other reasons can exercise control over the investee under the same control, the net assets of the combined party shall be enjoyed by the ultimate controlling party on the merger date after the merge
The share of book value in financial statements determines the initial investment cost of long-term equity investment. The initial investment cost of the long-term equity investment on the merger date is
The difference between the book value of the long-term equity investment and the sum of the book value of the new payment consideration for the shares obtained on the merger date is adjusted for the equity premium, and the
Business combination not under the same control: The company uses the combination cost determined on the purchase date as the initial investment cost of long-term equity investment. Can be due to additional investmen
If the investee is not under the same control, the sum of the book value of the equity investment originally held plus the cost of the new investment is used as the cost method.
For investment, the fair value of the equity securities issued is the initial investment cost. The exchange of non-monetary assets has commercial substance and the exchange of assets in and out of assets is fair
Under the premise that the value can be reliably measured, the long-term equity investment exchanged in non-monetary assets is determined by the fair value of the exchanged assets and the relevant taxes and fees payable.
The initial investment cost, unless there is conclusive evidence that the fair value of the assets exchanged in is more reliable; non-monetary asset exchanges that do not meet the above premises are exchanged for the book valu
The value and relevant taxes payable shall be used as the initial investment cost of the long-term equity investment. Long-term equity investment obtained through debt restructuring shall be based on the fairness of the
The value and other costs such as taxes that can be directly attributable to the asset determine its entry value, and the difference between the fair value of the waived creditor’s rights and the book value is included in the curren
In addition to golden dividends or profits, the company shall recognize the current investment income in accordance with the cash dividends or profits declared by the invested entity.
The difference in the fair value share does not adjust the initial investment cost of long-term equity investment; when the initial investment cost is less than the investment, the fair value of the investee’s identifiable net assets s
The difference in value share is included in the current profit and loss.
The company recognizes investment income and other comprehensive income according to the share of net profit and loss and other comprehensive income realized by the invested entity that it should enjoy or share, and
Adjust the book value of long-term equity investment; calculate the portion that should be enjoyed according to the declared profit or cash dividends of the invested entity, and reduce the account of long-term equity investmen
Face value; For other changes in the owner’s equity of the investee in addition to net profit and loss, other comprehensive income and profit distribution, the book value of long-term equity investment is adjusted and
When confirming the share of the net profit and loss of the investee, it shall be based on the fair value of the net assets of the investee when the investment is obtained, and in accordance with the company’s meeting
Accounting policy and accounting period, the net profit of the investee is adjusted and confirmed. During the holding period, if the investee prepares consolidated financial statements, the
The accounting is based on the amount attributable to the investee in the net profit, other comprehensive income and other changes in owner’s equity in the financial statement.
The unrealized internal transaction gains and losses between the company and its associates and joint ventures are calculated based on the proportion that is attributable to the company, and are offset.
Confirm the investment income on the basis. If the unrealized internal transaction loss with the investee is an asset impairment loss, it shall be fully recognized. Companies and associates, joint ventures
If the transaction of investment or sale of assets occurs between enterprises, if the assets constitute a business, the accounting treatment method and the merger of the business combination under the same control and not under
The relevant policies disclosed in the preparation method of financial statements are accounted for.
When the company confirms that it should share the losses incurred by the invested entity, it shall be processed in the following order: First, offset the book value of the long-term equity investment. Secondly, long
If the book value of the equity investment in the period is insufficient to offset, the investment loss shall continue to be recognized within the limit of the book value of other long-term equity that actually constitutes the net inv
Write down the book value of long-term receivable items. Finally, after the above treatment, if the enterprise still undertakes additional obligations according to the investment contract or agreement, the
The estimated liabilities shall be confirmed and included in the current investment loss.
For long-term equity investments accounted for by the equity method, when disposing of the investment, the same basis as the direct disposal of related assets or liabilities by the investee shall be adopted, and the correspo
Proportion of accounting treatment of the part originally included in other comprehensive income. Due to other owners' equity of the investee except net profit and loss, other comprehensive income and profit distribution
The owner’s equity confirmed by the change shall be carried forward to the current profit and loss on a pro rata basis. Others arising from changes in the net liabilities or net assets of the defined benefit plan by the investee
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If the joint control or significant influence on the investee is lost due to the disposal of part of the equity investment, the remaining equity after the disposal shall be recognized and measured by financial instruments
According to the standard accounting, the difference between the fair value and the book value on the day when the joint control or significant influence is lost is included in the current profit and loss. The original equity inves
Other comprehensive income recognized after calculation shall be accounted for on the same basis as the investee’s direct disposal of related assets or liabilities when the equity method is terminated.
Owner’s equity recognized as a result of changes in other owners’ equity other than net profit and loss, other comprehensive income and profit distribution of the investee, when the equity method is terminated
If the company loses control over the invested entity due to the disposal of part of the equity investment, the decrease in the company’s shareholding ratio due to the increase in capital of the subsidiary by other investors,
When preparing individual financial statements, if the remaining equity can exercise joint control or significant influence on the investee, it shall be accounted for by the equity method, and the remaining equity shall be deeme
The equity method will be used for adjustment when available; if the remaining equity cannot exercise joint control or exert significant influence on the invested entity, it shall be determined and measured based on financial in
The relevant provisions of the Rules shall be accounted for, and the difference between the fair value and the book value on the date when the control is lost is included in the current profit and loss.
The equity to be disposed of is obtained through a business combination due to additional investment and other reasons. When preparing individual financial statements, the remaining equity after disposal is taken using th
In the case of accounting, the equity investment held before the purchase date is carried forward in proportion to the other comprehensive income and other owner’s equity recognized by the equity method; the remaining after
If the equity is reformed according to the financial instrument recognition and measurement standards, all other comprehensive income and other owners' equity will be carried forward.
Not applicable
( 1 ) Confirmation conditions
Fixed assets refer to tangible assets held for the purpose of producing commodities, providing labor services, renting or operating management, and with a service life of more than one fiscal year. Fixed assets in
It is confirmed when the following conditions are met at the same time: 1) The economic benefits related to the fixed asset are likely to flow into the enterprise; 2) The cost of the fixed asset can be reliable
To measure.
( 2 ) Depreciation method
category Depreciation method Depreciation period Residual rate Annual depreciation rate
( 3 ) Recognition basis, valuation and depreciation method of fixed assets acquired by financing lease
If one of the following conditions is stipulated in the terms of the lease agreement signed by the company and the lessee, it shall be recognized as a financial leased asset: 1) The leased asset after the lease expires
The ownership of the property belongs to the company; 2) The company has the option to purchase the asset, and the purchase price is much lower than the fair value of the asset when the option is exercised;
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3) The lease term occupies most of the useful life of the leased asset; 4) The present value of the minimum lease payment on the lease commencement date is not significant to the fair value of the asset
The difference. The company uses the lower of the fair value of the leased asset and the present value of the minimum lease payment as the entry value of the leased asset on the start date of the lease.
The low lease payment is taken as the entry value of the long-term payable, and the difference is taken as the unrecognized financing fee.
Projects under construction shall be the recorded value of fixed assets based on the necessary expenditures incurred before the construction of the asset reaches the expected usable state. Fixed assets built
If the project has reached the expected usable status, but the final accounts for completion have not yet been processed, from the date of reaching the expected usable status, according to the project budget, cost or actual projec
Costs, etc., are transferred to fixed assets at the estimated value, and depreciation of fixed assets is accrued according to the company’s fixed asset depreciation policy. After the completion of the project, the actual cost will be
This adjusts the original provisional estimated value, but does not adjust the original depreciation amount.
Borrowing costs include borrowing interest, amortization of discounts or premiums, ancillary expenses, and exchange differences arising from foreign currency borrowings.
If the borrowing costs incurred by the company can be directly attributable to the acquisition, construction or production of assets that meet the capitalization conditions, they shall be capitalized and included in the cost o
Borrowing costs are recognized as expenses based on the amount incurred when they occur, and are included in the current profit and loss.
Assets that meet the conditions for capitalization refer to fixed assets that require a long period of construction or production activities to reach the intended use or sale status.
The capitalization of borrowing costs starts when the following conditions are met simultaneously:
1) Asset expenditure has occurred. Asset expenditure includes payment of cash, transfer of non-cash assets, or commitment for the purchase, construction or production of assets that meet the capitalization conditions
Expenses in the form of interest-bearing debt;
3) The purchase, construction or production activities necessary for the asset to reach the intended usable or saleable state have begun.
(2) Period of capitalization of borrowing costs
The period of capitalization refers to the period from the point when the capitalization of borrowing costs starts to the point when capitalization is stopped. The period during which the capitalization of borrowing costs is
When the acquisition, construction or production of assets that meet the capitalization conditions reaches the intended usable or saleable state, the capitalization of borrowing costs shall cease.
When some of the items in the acquisition, construction or production of assets that meet the capitalization conditions are completed and can be used independently, the capitalization of the borrowing costs of the part of th
If each part of the asset purchased, constructed or produced is completed separately, but cannot be used or sold until the entirety is completed, the borrowing shall be stopped when the entire asset is completed.
If an asset that meets the capitalization conditions is abnormally interrupted during the acquisition, construction or production process, and the interruption time exceeds 3 consecutive months, the capitalization of borrowi
If the interruption is a necessary procedure for the purchased, constructed or produced assets that meet the conditions of capitalization to reach the intended usable state or saleable state, the borrowing costs continue to be capit
化. The borrowing costs incurred during the interruption period shall be recognized as current profits and losses, and the borrowing costs shall continue to be capitalized until the acquisition, construction or production activitie
(4) Calculation method of capitalization rate and capitalization amount of borrowing costs
For special loans borrowed for the purchase, construction or production of assets that meet the capitalization conditions, the actual borrowing costs incurred in the current period of the special loans are used to deduct the u
The amount of interest income obtained by depositing borrowed funds in the bank or investment income obtained by making a temporary investment is used to determine the capitalized amount of borrowing costs.
For general borrowings used for the purchase, construction or production of assets that meet the capitalization conditions, the weighted average is based on the weighted average of the cumulative asset expenditure exceed
Multiply the average by the capitalization rate of the general borrowings used to calculate and determine the amount of borrowing costs that should be capitalized for the general borrowings. The capitalization rate is based on
Calculation is OK.
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Other expenditures incurred to reach the intended purpose. The purchase price of intangible assets exceeds the normal credit conditions and the payment is delayed, which is of financing nature.
This is determined on the basis of the current value of the purchase price. Debt restructuring obtains the intangible assets used by the debtor to repay the debt, with the fair value of the waived creditor’s rights and directly attrib
The tax and other costs incurred when the asset reaches its intended use determine its entry value, and the difference between the fair value of the waived creditor’s rights and the book value is included in the current period
profit and loss. On the premise that the exchange of non-monetary assets has commercial substance and the fair value of the assets exchanged in and out can be reliably measured, the exchange of non-monetary assets
The recorded value of the imported intangible assets shall be determined on the basis of the fair value of the exchanged assets, unless there is conclusive evidence that the fair value of the exchanged assets is more reliable;
For the non-monetary asset exchange under the above premise, the book value of the exchanged asset and the relevant taxes that should be paid are used as the cost of the exchange of intangible assets, and no profit or loss is re
Subsequent measurement: Analyze and judge the service life of intangible assets when they are obtained. For intangible assets with a limited service life, the
Straight-line amortization; if it is impossible to foresee the period of intangible assets that will bring economic benefits to the enterprise, it shall be regarded as intangible assets with uncertain service life and shall not be amort
At the end of each year, the service life and amortization method of intangible assets with a limited service life are reviewed.
After review, the useful life and amortization method of intangible assets at the end of the current period are not different from previous estimates.
1) Specific criteria for dividing the research phase and the development phase
The company's internal research and development project expenditure is divided into research phase expenditure and development phase expenditure.
Research stage: the stage of original planned investigations and research activities to acquire and understand new scientific or technical knowledge, etc.
Development stage: Before commercial production or use, apply research results or other knowledge to a certain plan or design to produce new or substantive changes
① It is technically feasible to complete the intangible asset so that it can be used or sold;
②The management has the intention to complete the intangible asset and use or sell it;
③It can prove how the intangible assets will generate economic benefits;
④Have sufficient technical, financial resources and other resource support to complete the development of the intangible asset and have the ability to use or sell the intangible asset;
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⑤ Expenditure attributable to the development stage of the intangible asset can be reliably measured.
Expenditures in the development stage, if the above conditions are not met, shall be included in the current profit and loss when incurred. Expenditures in the research phase are included in the current profits and losses w
Long-term equity investment, fixed assets, construction in progress, intangible assets with limited service life and other long-term assets that show signs of impairment on the balance sheet date shall be reduced
Value test. If the result of the impairment test shows that the recoverable amount of the asset is lower than its book value, the impairment provision shall be made based on the difference and included in the impairment loss. Th
The higher of the net value of the asset’s fair value minus the disposal expenses and the present value of the asset’s expected future cash flow. Asset impairment reserves are calculated on the basis of individual assets
If it is difficult to estimate the recoverable amount of a single asset, the asset group to which the asset belongs shall be used to determine the recoverable amount of the asset group. Asset group is able to
Goodwill, intangible assets with uncertain service life, and intangible assets that have not yet reached the usable state shall be tested for impairment at least at the end of each year.
The company conducts a goodwill impairment test, and the book value of the goodwill formed by the business combination is allocated to the relevant asset group according to a reasonable method from the date of purcha
If it is difficult to allocate to the relevant asset group, it shall be allocated to the relevant asset group combination. When the company allocates the book value of goodwill, according to the relevant asset group or asset group
The relative benefits that can be obtained from the synergies of the business combination are apportioned, and goodwill impairment tests are conducted on this basis.
When performing an impairment test on a related asset group or combination of asset groups that includes goodwill, if there are signs of impairment in an asset group or combination of asset groups related to goodwill,
First, perform an impairment test on the asset group or combination of asset groups that does not contain goodwill, calculate the recoverable amount, and compare it with the relevant book value to confirm the corresponding im
Then conduct an impairment test on the asset group or combination of asset groups containing goodwill, and compare the book value of these related asset groups or combination of asset groups (including the allocated goodw
If the recoverable amount of the relevant asset group or combination of asset groups is lower than its book value, the impairment loss of goodwill shall be recognized.
Once the above asset impairment loss is recognized, it will not be reversed in the subsequent accounting periods.
Long-term deferred expenses are all expenses that have been incurred but should be borne by the current period and subsequent periods with amortization period of more than one year. The company’s long-term prepaid e
Rented fixed assets improvement expenses, house decoration expenses, molds and automation equipment.
Long-term deferred expenses are amortized evenly during the benefit period
Expenditure on improvement of operating leased fixed assets The remaining lease term and the remaining useful life of the leased asset are shorter
During the accounting period when employees provide services to the company, the company recognizes the actual short-term compensation as a liability and includes it in the current profit and loss or the cost of related a
The social insurance premiums and housing provident fund paid by the company for employees, as well as the labor union funds and employee education funds drawn in accordance with regulations, provide services to th
During the accounting period, the corresponding amount of employee remuneration shall be calculated and determined based on the prescribed provision basis and provision ratio.
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If employee welfare is non-monetary, if it can be measured reliably, it shall be measured at fair value.
The payable amount is calculated based on the predetermined payment base and proportion, recognized as a liability, and included in the current profit and loss or the cost of related assets.
The deficit or surplus formed by the present value of the defined benefit plan’s obligations minus the fair value of the defined benefit plan’s assets is recognized as a defined benefit plan’s net liabilities or net assets.
If there is a surplus in the defined benefit plan, the company shall use the lower of the surplus of the defined benefit plan and the asset ceiling to measure the net assets of the defined benefit plan.
All defined benefit plan obligations, including obligations expected to be paid within twelve months after the end of the annual reporting period in which employees provide services, are based on the balance sheet date
The market yield of Treasury bonds or high-quality corporate bonds in an active market that matches the obligation period and currency of the defined benefit plan is discounted.
The service cost incurred by the defined benefit plan and the net interest of the defined benefit plan’s net liabilities or net assets are included in the current profit and loss or the cost of related assets; re-measurement
Changes in the net liabilities or net assets of the benefit plan are included in other comprehensive income, and will not be transferred back to profit or loss in the subsequent accounting period. When the original defined benefi
Within the scope of equity, the portion originally included in other comprehensive income shall be carried forward to undistributed profits.
In the settlement of the defined benefit plan, the difference between the present value of the obligation of the defined benefit plan and the settlement price determined on the settlement date is used to confirm the settlemen
When the company cannot unilaterally withdraw the dismissal benefits provided due to the termination of the labor relationship plan or reduction proposal, or confirm that it is related to the reorganization involving the pa
When the cost or expense is (which is earlier), the employee compensation liabilities arising from dismissal benefits are recognized and included in the current profit and loss.
When the obligations related to contingencies such as litigation, debt guarantees, loss contracts, restructuring matters, etc., meet the following conditions at the same time, the company recognizes as estimated liabilities:
2) Fulfilling this obligation is likely to cause economic benefits to flow out of the company;
The company's estimated liabilities are initially measured based on the best estimate of the expenditure required to perform the relevant current obligations. When determining the best estimate, the company considers and
Factors such as risks, uncertainties and time value of money related to contingencies. If the time value of money has a significant impact, discount the relevant future cash outflows
If there is a continuous range (or interval) for the required expenditure, and the possibility of various results within this range is the same, the best estimate is based on the middle value of the range
That is, the average of the upper and lower limits is determined.
The required expenditure does not have a continuous range (or interval), or although there is a continuous range, the possibility of various outcomes within the range is different, such as or
If something involves a single item, the best estimate is determined according to the most likely amount; if there is a contingency involving multiple items, the best estimate is determined according to various possibilities.
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If all or part of the expenditures required by the company to settle the estimated liabilities are expected to be compensated by a third party, the compensation amount shall be separately recognized as an asset when it is ba
The confirmed compensation amount does not exceed the book value of the estimated liability.
The company’s share-based payment is a transaction that grants equity instruments or assumes liabilities determined on the basis of equity instruments in order to obtain services provided by employees or other parties. th
The company’s share-based payment is divided into equity-settled share-based payment and cash-settled share-based payment.
Equity-settled share payment in exchange for services provided by employees shall be measured at the fair value of the equity instruments granted to employees. The company uses restricted stock for share-based paymen
If the employees subscribe for stocks with capital, the stocks shall not be listed for circulation or transfer until the unlocking conditions are met and unlocked; if the unlocking conditions specified in the final equity incentive p
Upon arrival, the company will repurchase the shares at the agreed price. When the company obtains payment from employees for subscription of restricted stocks, it shall confirm the share capital and
Capital reserve (share premium), and at the same time recognize a liability in full for the repurchase obligation and recognize treasury shares. On each balance sheet date during the waiting period, the company
Obtained follow-up information such as [Change in the number of vested employees], [whether it meets the specified performance conditions], etc., make the best estimate of the number of vested equity instruments, and on th
Based on the fair value on the grant date, the services obtained in the current period are included in the relevant costs or expenses, and the capital reserve is increased accordingly. After the vesting date, the relevant
The capital or expenses and the total owner's equity are adjusted. However, if the right can be exercised immediately after the grant, it shall be included in the relevant costs or expenses at fair value on the date of grant, and the
Provident.
For share-based payments that cannot be exercised in the end, costs or expenses are not recognized, unless the exercise conditions are market conditions or non-exercise conditions, regardless of whether the market is met
Conditions or non-vesting conditions, as long as all the non-market conditions of the vesting conditions are met, it is deemed as a vesting.
If the terms of equity-settled share-based payment are modified, at least the services obtained should be confirmed according to the unmodified terms. In addition, any increase in the
Modifications with fair value, or changes that are beneficial to employees on the modification date, are recognized as an increase in services received.
If the equity-settled share payment is cancelled, it will be treated as an accelerated exercise on the cancellation day, and the unconfirmed amount will be confirmed immediately. Employees or others can choose
If the non-exercising conditions are met but not met within the waiting period, it shall be treated as cancellation of equity-settled share-based payment. However, if new equity instruments are granted and the new rights
If it is determined that the new equity instrument granted is used to replace the cancelled equity instrument on the date of granting the beneficial instrument, it shall be treated in the same way as the modification of the original
Cash-settled share-based payments are measured at the fair value of the liabilities calculated and determined on the basis of shares or other equity instruments undertaken by the company. Initially adopt
It is measured according to the fair value on the grant date, taking into account the terms and conditions of the grant of equity instruments. If the right can be exercised immediately after the grant, the fair value of the liabilities
Costs or expenses, increase liabilities accordingly; if the service within the waiting period is completed or the specified performance conditions are met, the best estimate of the vesting situation shall be used during the waiting
Based on the fair value of the liabilities assumed, the services obtained in the current period are included in the relevant costs or expenses, and the corresponding liabilities are increased. Each asset before settlement of related
On the balance sheet date and settlement date, the fair value of the liability is re-measured, and the change is included in the current profit and loss.
39. Income
□ Yes √ No
(1) General principles for the recognition of income from sales of goods
①The company has transferred the main risks and rewards of the ownership of the goods to the purchaser;
②The company neither retains the right to continue management usually associated with ownership, nor does it effectively control the sold commodities;
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The company's product sales customers are divided into two categories: domestic customer sales and foreign customer sales.
The specific principle of domestic customer sales revenue recognition: the company sells products to domestic customers, and the settlement price is the order price confirmed by both parties every time an order is placed
After the customer's order requires the completion of product production, the warehouse will handle the product delivery procedures and deliver the product according to the shipping notice issued by the company's sales depar
Start to check and accept the product. After the customer acceptance is completed, the acceptance results will be summarized and a statement will be issued to the company. The finance department summarizes the shipment qu
After checking, issue an invoice to each customer. As the related risks and rewards of the company's products have been transferred and the right to receive payments has been obtained, the company recognizes revenue accord
The specific principles for the recognition of sales revenue for foreign customers: the company’s export sales settlement price is determined according to the contract or order signed with the customer, and the goods are d
The relevant risks and rewards of the product have been transferred, and relevant export declaration documents have been obtained, and the export sales income has been confirmed accordingly.
40. Government subsidies
(1) Type
Government grants are monetary and non-monetary assets obtained by the company from the government free of charge. Divided into government subsidies related to assets and government subsidies related to income
help.
Government subsidies related to assets refer to government subsidies obtained by the company for purchase and construction or to form long-term assets in other ways. Government grants related to income,
The company classifies government subsidies as asset-related specific standards: government subsidies obtained for the construction or formation of long-term assets in other ways are defined as capital
The company classifies government subsidies as income-related specific standards: government subsidies other than asset-related government subsidies are defined as income-related government subsidies
help.
For government documents that do not clearly specify the subsidy object, the company’s judgment basis for classifying the government subsidy as asset-related or income-related is: (1) The government
If the document clarifies the specific project targeted by the subsidy, it shall be calculated according to the relative proportion of the expenditure amount of the asset and the expenditure amount included in the expenditure in th
Bank division, the division ratio needs to be reviewed on each balance sheet date, and changed if necessary; (2) The use of the government documents is only a general statement, no
The company’s asset-related government subsidies are confirmed at the following: the actual receipt of government subsidies is included in deferred income, and the long-term assets are available for use.
For the expected useful life of the assets in the period, the deferred income is evenly allocated and transferred to the current profit and loss.
The company’s revenue-related government subsidies are confirmed at the following point: if government subsidies are actually received and used to compensate the company for related costs or losses in the future
Deferred income is considered and included in the current profit and loss during the period when the relevant costs or losses are recognized; if it is used to compensate for the relevant expenses or losses incurred by the enterpr
Government subsidies related to assets are used to offset the book value of related assets or be recognized as deferred income. If it is recognized as deferred income, it shall be
It shall be included in the current profit and loss in stages (related to the company’s daily activities, included in other income; not related to the company’s daily activities, included in non-operating income);
Government subsidies related to income that are used to compensate the company’s related costs or losses in subsequent periods shall be recognized as deferred income, and the relevant costs shall be recognized
Or the period of loss, included in the current profit and loss (related to the company's daily activities, included in other income; not related to the company's daily activities, included in non-operating income) or
To offset related costs, expenses or losses; those used to compensate related costs or losses that have occurred in the company are directly included in the current profit and loss (related to the company’s daily activities,
Including other income; those that have nothing to do with the company’s daily activities shall be included in non-operating income) or offset related costs or losses.
The policy-based preferential loan interest discount obtained by the company shall be accounted for separately in the following two situations:
1) The finance allocates interest discount funds to the lending bank, and the lending bank provides loans to the company at a preferential policy interest rate, and the company uses the actual loan
The amount is used as the entry value of the loan, and the relevant borrowing costs are calculated based on the loan principal and the policy preferential interest rate.
2) If the finance directly allocates interest discount funds to the company, the company will offset the corresponding interest discounts against related borrowing costs.
For deductible temporary differences to recognize deferred income tax assets, the taxable income that is likely to be obtained in the future to deduct the deductible temporary differences is
limit. For the deductible losses and tax credits that can be carried forward for subsequent years, the future taxable income that is likely to be used to deduct the deductible losses and tax credits is taken as
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For taxable temporary differences, except for special circumstances, deferred income tax liabilities are recognized.
Special circumstances that do not recognize deferred income tax assets or deferred income tax liabilities include: initial recognition of goodwill; except for business combinations that do not affect accounting profits
The profit also does not affect other transactions or matters on taxable income (or deductible losses).
When you have the statutory right to net settlement and intend to net settlement or obtain assets and pay off liabilities at the same time, current income tax assets and current income tax liabilities
When they have the legal right to settle current income tax assets and current income tax liabilities on a net basis, and the deferred income tax assets and deferred income tax liabilities are the same as the tax levy
The administrative department is related to the income tax levied on the same tax subject or related to different tax subjects, but in the future every important deferred income tax asset and liability
During the reversal period, when the taxpayer involved intends to settle the current income tax assets and liabilities on a net basis, or obtain assets and pay off the liabilities at the same time, deferred income tax assets and
Deferred income tax liabilities are presented as the net amount after offsetting.
42. Lease
The lease fee paid by the company for rented assets shall be amortized on a straight-line basis during the entire lease period without deducting the rent-free period and included in the current expenses. Company paid and
The initial direct expenses related to the lease transaction shall be included in the current expenses. When the asset lessor bears the lease-related expenses that should be borne by the company, the company shall deduct that pa
The total rent is deducted, and the deducted rent is amortized during the lease term and included in the current expenses.
The lease fee charged by the company for renting assets is amortized on a straight-line basis during the entire lease period without deducting the lease-free period and recognized as lease-related income. Company pay
The initial direct expenses related to the lease transaction shall be included in the current expenses; if the amount is large, it shall be capitalized, and the lease-related income shall be
Confirm that the same basic installment is included in the current income.
When the company bears the lease-related expenses that should be borne by the lessee, the company deducts this part of the expenses from the total rental income, and the deducted rental expenses are
Finance leased assets: The company uses the lower of the fair value of the leased asset and the present value of the minimum lease payment as the entry value of the leased asset on the start date of the lease.
The minimum lease payment is regarded as the recorded value of long-term payables, and the difference is regarded as unrecognized financing expenses. The company uses the actual interest rate method for unrecognized fina
Amortized during the asset lease period and included in financial expenses. The initial direct costs incurred by the company are included in the value of the leased assets.
Financing leased assets: The company recognizes the difference between the sum of the receivable financial lease receivables and the unguaranteed residual value and its present value as unrealized financing income on th
The rental income is recognized as rental income during each period when the rental is received. The initial direct expenses related to the lease transaction incurred by the company are included in the initial measurement of the
And reduce the amount of income recognized during the lease period.
The content and reason of accounting policy changes approval procedure Remarks
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The cumulative effect of retrospective adjustment is adjusted at the beginning of the year
(1) Implementation of "Accounting Standards for Business Enterprises No. 7-Exchange of Non-monetary Assets" (2019 revision)
The Ministry of Finance issued the "Accounting Standards for Business Enterprises No. 7-Exchange of Non-monetary Assets" (2019 Revision) (Cai Kuai [2019] No. 8) on May 9, 2019.
The standard will be implemented on June 10, 2019. The exchange of non-monetary assets between January 1, 2019 and the effective date of this standard shall be adjusted in accordance with this standard.
For non-monetary asset exchanges that occurred before January 1, 2019, there is no need to make retrospective adjustments in accordance with the provisions of this standard. The company implemented the above standards d
(2) Implementation of "Accounting Standards for Business Enterprises No. 12-Debt Restructuring" (2019 revision)
The Ministry of Finance issued the "Accounting Standards for Business Enterprises No. 12-Debt Restructuring" (2019 Revision) (Cai Kuai [2019] No. 9) on May 16, 2019.
Effective on June 17, 2019, the debt restructuring that occurred between January 1, 2019 and the effective date of this standard shall be adjusted in accordance with this standard. On January 1, 2019
The debt restructuring that occurred previously does not require retrospective adjustment in accordance with the provisions of this standard. The company's implementation of the above standards has no significant impact duri
(3) Other accounting policy changes
On January 1, 2019, the company adjusted the presentation of molds and automation equipment based on the nature of their products and actual usage. In-process, finished molds and automation equipment before adjustment
Prepared for presentation in inventory. After the adjustment, the molds in process are listed in the inventory account, and the finished molds are listed in other current assets. Report on the construction in progress of automati
Industrial automation equipment is reported in long-term deferred expenses. Generally, the amortization period of molds is within one year, and the amortization period of automation equipment is 3 years. According to its ser
For the role of automated equipment in the production process, the company believes that the adjusted accounting policy is more reasonable.
The above-mentioned adjusted policies are adopted in accordance with the relevant provisions of "Accounting Standards for Business Enterprises No. 28-Accounting Policies, Changes in Accounting Estimates and Error Corre
Retrospective adjustment method to adjust the presentation of previous years, of which the impact on December 31, 2018 is: long-term deferred expenses-amortized amount of automation equipment is 30,743,163.58
Yuan, the amount of construction in progress-automation equipment is 33,386,470.94 yuan, the inventory-the amount of molds in production is 55,827,216.75 yuan; other current assets molds to be amortized in 2019
The amount is 39,874,845.51 yuan, the long-term deferred expenses-automatic equipment amortization amount is 110,633,880.13 yuan, inventory-the amount of molds in production is 18,750,133.92 yuan.
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( 3 ) Implementation of the new financial instrument standards, new income standards or new lease standards from 2019 to adjust the implementation of relevant items in the financial statements at the beginn
unit: yuan
Current assets:
Settlement provisions
Borrowed funds
Financials whose changes are included in the current profit and loss
assets
Receivable financing
Premium receivable
Dividend receivable
Contract assets
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assets
Non-current assets:
Debt investment
Long-term receivables
Right-of-use asset
Current liabilities:
Borrowed funds
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Financials whose changes are included in the current profit and loss
Liabilities
Bills payable
accounts payable 858,134,308.81 858,134,308.81
Contract liabilities
Non-current liabilities:
Bonds payable
Perpetual bond
Lease liability
Long-term payables
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Owners' equity:
Perpetual bond
Special reserves
Adjustment description
Implement "Accounting Standards for Business Enterprises No. 22-Recognition and Measurement of Financial Instruments", "Accounting Standards for Business Enterprises No. 23-Transfer of Financial Assets", "Accounting
No.-Hedging Accounting" and "Accounting Standards for Business Enterprises No. 37-Presentation of Financial Instruments" (revised in 2017)
In 2017, the Ministry of Finance revised the "Accounting Standards for Business Enterprises No. 22-Recognition and Measurement of Financial Instruments", "Accounting Standards for Business Enterprises No. 23-Transfer o
"Accounting Standards for Business Enterprises No. 24-Hedging Accounting" and "Accounting Standards for Business Enterprises No. 37-Presentation of Financial Instruments." The revised guidelines stipulate that for the fir
For financial instruments that have not been derecognized, if the previous confirmation and measurement are inconsistent with the requirements of the revised standards, they shall be adjusted retrospectively. Involving the com
If the revised guidelines require inconsistencies, no adjustment is required. The company will adjust the retained earnings and other comprehensive income at the beginning of the year due to the cumulative impact of the retros
Based on the balance at the end of the previous year after adjustments in accordance with Caikuai [2019] No. 6 and Caikuai [2019] No. 16, the main impact of the implementation of the above new financial instrument standar
under:
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unit: yuan
Current assets:
Financials whose changes are included in the current profit and loss
assets
Receivable financing
Dividend receivable
Contract assets
assets
Non-current assets:
Debt investment
Long-term receivables
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Right-of-use asset
Goodwill
Current liabilities:
Financials whose changes are included in the current profit and loss
Liabilities
Bills payable
Contract liabilities
Dividend payable
Non-current liabilities:
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Bonds payable
Perpetual bond
Lease liability
Long-term payables
Owners' equity:
Perpetual bond
Special reserves
Adjustment description
Listed items Measurement categoryBook value Listed items Measurement category Book value
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( 4 ) The implementation of the new financial instrument standards or the new lease standards from 2019 retrospectively adjusts the previous comparative data description
In 2017, the Ministry of Finance revised the "Accounting Standards for Business Enterprises No. 22-Recognition and Measurement of Financial Instruments", "Accounting Standards for Business Enterprises No. 23-Tran
"Accounting Standards for Business Enterprises No. 24-Hedging Accounting" and "Accounting Standards for Business Enterprises No. 37-Presentation of Financial Instruments." The revised guidelines stipulate that for the fir
For financial instruments that have not been derecognized, if the previous confirmation and measurement are inconsistent with the requirements of the revised standards, they shall be adjusted retrospectively. Involving the com
If the revised guidelines require inconsistencies, no adjustment is required. The company will adjust the retained earnings and other comprehensive income at the beginning of the year due to the cumulative impact of the retros
Based on the balance at the end of the previous year after adjustments in accordance with Caikuai [2019] No. 6 and Caikuai [2019] No. 16, the main impact of the implementation of the above new financial instrument sta
The response is as follows: Available-for-sale equity instrument investments are reclassified as "financial assets measured at fair value and whose changes are included in current profits and losses." Consolidated statement leve
Financial assets increased by RMB 27,579,486.96, and available-for-sale financial assets decreased by RMB 27,579,486.96; at the parent company’s statement level, other non-current financial assets increased
45. Other
(1) Implementation of "Accounting Standards for Business Enterprises No. 7-Exchange of Non-monetary Assets" (2019 revision)
The Ministry of Finance issued the "Accounting Standards for Business Enterprises No. 7-Exchange of Non-monetary Assets" (2019 Revision) (Cai Kuai [2019] No. 8) on May 9, 2019.
The standard will be implemented on June 10, 2019. The exchange of non-monetary assets between January 1, 2019 and the effective date of this standard shall be adjusted in accordance with this standard.
For non-monetary asset exchanges that occurred before January 1, 2019, there is no need to make retrospective adjustments in accordance with the provisions of this standard. The company implemented the above standards d
(2) Implementation of "Accounting Standards for Business Enterprises No. 12-Debt Restructuring" (2019 revision)
The Ministry of Finance issued the "Accounting Standards for Business Enterprises No. 12-Debt Restructuring" (2019 Revision) (Cai Kuai [2019] No. 9), the revised standard on May 16, 2019
Effective on June 17, 2019, the debt restructuring that occurred between January 1, 2019 and the effective date of this standard shall be adjusted in accordance with this standard. On January 1, 2019
Debt restructuring that occurred before the date does not require retrospective adjustment in accordance with the provisions of this standard. The company's implementation of the above standards has no significant impact du
On January 1, 2019, the company adjusted the presentation of molds and automation equipment based on the nature of their products and actual usage. In-process, finished molds and automation equipment before adjustment
Prepared for presentation in inventory. After the adjustment, the molds in process are listed in the inventory account, and the finished molds are listed in other current assets. Report on the construction in progress of automati
Industrial automation equipment is reported in long-term deferred expenses. Generally, the amortization period of molds is within one year, and the amortization period of automation equipment is 3 years. According to its ser
For the role of automated equipment in the production process, the company believes that the adjusted accounting policy is more reasonable.
The above-mentioned adjusted policies are adopted in accordance with the relevant provisions of "Accounting Standards for Business Enterprises No. 28-Accounting Policies, Changes in Accounting Estimates and Error Cor
Retrospective adjustment method to adjust the presentation of previous years, of which the impact on December 31, 2018 is: long-term deferred expenses-amortized amount of automation equipment is 30,743,163.58
Yuan, the amount of construction in progress-automation equipment is 33,386,470.94 yuan, the inventory-the amount of molds in production is 55,827,216.75 yuan; other current assets molds to be amortized in 2019
The amount is 39,874,845.51 yuan, the long-term deferred expenses-automatic equipment amortization amount is 110,633,880.13 yuan, inventory-the amount of molds in production is 18,750,133.92.
6. Taxation
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Sales of goods and taxable services calculated in accordance with tax laws
Calculate the output tax based on income, after deducting the current period
VAT 16%, 13%
After the input tax is allowed to be deducted, the difference is due
Pay VAT
Urban maintenance and construction tax Calculated and paid according to the actual value-added
7%tax paid
corporate income tax Calculated and paid according to taxable income 25%, 15%, 16.5%, 35%, 29.84%
Local education surcharges Calculated and paid according to the actual value-added
2%tax paid
If there are taxpayers with different corporate income tax rates, explanations of disclosure
2. Tax incentives
Xinwei Chuangke Communication Technology (Beijing) Co., Ltd. 15% high-tech enterprises
Note: 1. Shenzhen Xinwei Communication Co., Ltd. passed the re-inspection of the high-tech enterprise certificate on October 7, 2017, the certificate number: GR201744202656, valid
For a period of three years, in accordance with the tax law, a preferential corporate income tax rate of 15% will be implemented in 2019.
2. Xinwei Chuangke Communication Technology (Beijing) Co., Ltd. passed the high-tech enterprise certificate re-inspection on November 30, 2018, the certificate number: GR201811007066, valid
For a period of three years, in accordance with the tax law, a preferential corporate income tax rate of 15% will be implemented in 2019.
3. Shenzhen Yalisheng Connector Co., Ltd. obtained the high-tech enterprise certificate on December 9, 2019, the certificate number: GR201944201563, valid for three years, according to
The tax law stipulates that a preferential corporate income tax rate of 15% will be implemented in 2019.
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4. Shenzhen Aliment Technology Co., Ltd. obtained the high-tech enterprise certificate on December 9, 2019, the certificate number: GR201944203144, valid for three years, according to
The tax law stipulates that a preferential corporate income tax rate of 15% will be implemented in 2019.
5. Xinwei Communication (Jiangsu) Co., Ltd. obtained the high-tech enterprise certificate on November 28, 2018, the certificate number: GR201832003298, valid for three years, according to
The tax law stipulates that a preferential corporate income tax rate of 15% will be implemented in 2019.
6. Mianyang Beidou Electronics Co., Ltd. received the document "Chuanjingxin Industry Letter [2015] No.303" issued by the Sichuan Economic and Information Technology Commission on May 14, 2015, confirming that the
The owner-operated business is the approval of the state-encouraged industrial projects and enjoys the 15% corporate income tax preferential policy for the country’s western development.
3. Other
1. Monetary funds
unit: yuan
other instructions
The details of monetary funds that are restricted for use due to mortgage, pledge or freezing, and are placed overseas and restricted on the repatriation of funds are as follows:
unit: yuan
among them:
among them:
other
total
other instructions:
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unit: yuan
other instructions:
4. Notes receivable
unit: yuan
unit: yuan
Book balance Bad debt provision Book balance Bad debt provision
category
Book value
Accrual ratio Book value
Amount proportion Amount Amount proportion Amount Withdrawal ratio
example
among them:
among them:
unit: yuan
Ending balance
name
Book balance Bad debt provision Withdrawal ratio Reason for provision
unit: yuan
Ending balance
name
Book balance Bad debt provision Withdrawal ratio Reason for provision
unit: yuan
Ending balance
name
Book balance Bad debt provision Withdrawal ratio Reason for provision
unit: yuan
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If the provision for bad debts for bills receivable is accrued according to the general expected credit loss model, please refer to the disclosure methods of other receivables to disclose the relevant information about the provisio
( 2 ) Provision for bad debts accrued, recovered or reversed in the current period
unit: yuan
Among them, the amount of bad debt provision for the current period to be recovered or reversed is important:
( 3 ) At the end of the period the company has pledged notes receivable
unit: yuan
( 4 ) At the end of the period, the company has endorsed or discounted notes receivable that are not yet due on the balance sheet date
unit: yuan
project Term-end termination confirmation amount Unterminated confirmation amount at the end of the period
( 5 ) At the end of the period, the company transferred the bill to the accounts receivable due to the failure of the drawer to perform the contract
unit: yuan
other instructions
unit: yuan
unit: yuan
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5. Accounts receivable
Book balance Bad debt provision Book balance Bad debt provision
category
Book value
Accrual ratio Book value
Amount proportion Amount Amount proportion Amount provision ratio
example
among them:
among them:
Combination 1: Aging2,770,28
group 12,364,3 2,757,921 2,216,527 19,987,15 2,196,540,2
98.61% 0.45% 100.00% 0.90%
Combine 5,376.70 05.90 ,070.80 , 452.25 6.65 95.60
unit: yuan
Ending balance
name
Book balance Bad debt provision Withdrawal ratio Reason for provision
unit: yuan
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Book balance Bad debt provision Withdrawal ratio Reason for provision
unit: yuan
Ending balance
name
Book balance Bad debt provision Withdrawal ratio
Combination by age
Ending balance
name
Book balance Bad debt provision Withdrawal ratio
unit: yuan
Ending balance
name
Book balance Bad debt provision Withdrawal ratio
If the provision for bad debts of accounts receivable is accrued in accordance with the general model of expected credit losses, please refer to the disclosure of other accounts receivable to disclose the relevant information of b
Disclosure by age
unit: yuan
1 to 2 years 121,068,087.99
2 to 3 years 13,214,697.00
3 to 4 years 1,491,577.26
total 2,823,515,503.85
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( 2 ) Provision for bad debts accrued, recovered or reversed in the current period
unit: yuan
unit: yuan
unit: yuan
( 4 ) The top five accounts receivable of the ending balance collected by the owing party
unit: yuan
Of the total balance of accounts receivable
company name Ending balance of accounts receivable Ending balance of bad debt provision
proportion
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( 6 ) The amount of assets and liabilities formed by the transfer of accounts receivable and continued involvement
other instructions:
6. Receivables financing
unit: yuan
Changes in receivable financing during the current period and changes in fair value
If the provision for financing impairment of receivables is accrued in accordance with the general expected credit loss model, please refer to the disclosure of other receivables to disclose the relevant information of the impairm
other instructions:
7. Advance payment
unit: yuan
Explanation of the reason why prepayments with an aging of more than 1 year and an important amount were not settled in time:
( 2 ) The top five prepayments of the ending balance grouped by prepayment objects
Prepaid object Ending balance Accounted for the total balance of prepayments at the end of the period
123
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8. Other receivables
unit: yuan
( 1 ) Interest receivable
unit: yuan
other
total 74,682.74
unit: yuan
other instructions:
( 2 ) Dividends receivable
unit: yuan
unit: yuan
124
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other instructions:
( 3 ) Other receivables
unit: yuan
unit: yuan
Use loss (No credit impairment occurred) (Credit impairment has occurred)
Changes in the book balance with significant changes in the loss provision for the current period
Disclosure by age
unit: yuan
1 to 2 years 1,675,350.42
2 to 3 years 13,924,095.03
3 to 4 years 6,248,401.87
125
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total 128,279,976.47
3 ) The provision for bad debts accrued, recovered or reversed in the current period
unit: yuan
Among them, the reversal or recovery of bad debt provision for the current period is important:
unit: yuan
unit: yuan
unit: yuan
5 ) Other receivables of the top five ending balances collected by the owing party
unit: yuan
Of which 10,000,000.00
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over 3 years;
unit: yuan
8 ) The amount of assets and liabilities formed by the transfer of other receivables and continued involvement
other instructions:
9. Inventory
□ Yes √ No
( 1 ) Inventory classification
unit: yuan
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unit: yuan
( 3 ) The ending balance of inventory contains an explanation of the capitalized amount of borrowing costs
( 4 ) Situation of completed and unsettled assets formed from construction contracts at the end of the period
unit: yuan
project Amount
other instructions:
unit: yuan
The amount and reasons for major changes in the book value of contract assets during the current period:
unit: yuan
If the provision for bad debts of contract assets is accrued according to the general model of expected credit losses, please refer to the disclosure of other receivables to disclose the relevant information of the provision for bad
unit: yuan
other instructions:
other instructions:
128
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unit: yuan
unit: yuan
other instructions:
□ Yes √ No
unit: yuan
other instructions:
unit: yuan
unit: yuan
unit: yuan
Use loss (No credit impairment occurred) (Credit impairment has occurred)
129
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The balance on January 1, 2019
—— —— —— ——
This period
Changes in the book balance with significant changes in the loss provision for the current period
other instructions:
unit: yuan
Accumulated in other
ready
unit: yuan
unit: yuan
Use loss (No credit impairment occurred) (Credit impairment has occurred)
Changes in the book balance with significant changes in the loss provision for the current period
other instructions:
unit: yuan
unit: yuan
Bad debt provision The first stage second stage The third phase total
130
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Use loss (No credit impairment occurred) (Credit impairment has occurred)
Changes in the book balance with significant changes in the loss provision for the current period
( 3 ) The amount of assets and liabilities formed by the transfer of long-term receivables and continued involvement
other instructions
17. Long-term equity investment
unit: yuan
1. Joint venture
2. Joint ventures
Deqing Huaying
117,395,0 9,456,820 1,953,720 124,898,1
Electronic Limited 91.75 .35 .00 92.10
the company
other instructions
unit: yuan
Itemized disclosure of investment in non-trading equity instruments for the current period
unit: yuan
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other instructions:
unit: yuan
Measured at fair value and its changes are included in the current profit and loss
33,610,344.93 27,579,486.96
Of financial assets
other instructions:
unit: yuan
project Book value Reasons for not getting the title certificate
other instructions
unit: yuan
unit: yuan
132
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project houses and buildings Production equipment Test Equipment Transportation Equipment
Office and other equipment total
And increase
(4) more
51,224,163.60 51,224,163.60
New transformation transferred in
(5) Exchange
551,934.99 -163,168.43 -5,338.33 17,632.23 401,060.46
Impact of rate changes
(1) Disposal or
95,393.40 45,004,469.92 6,740,701.36 361,136.36 916,505.79 53,118,206.83
scrapped
(2) more
65,211,315.89 65,211,315.89
New transformation transfer out
2. Accumulated depreciation
(2) Its
he
(3) Exchange
976,581.96 -5,332.24 14,988.05 986,237.77
Impact of rate changes
(1) Disposal or
28,354,532.36 3,508,170.00 313,345.86 1,851,470.14 34,027,518.36
scrapped
(2) more
15,137,445.73 15,137,445.73
New transformation transfer out
133
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1. Opening balance
(1) Provision
(1) Disposal or
scrapped
4. Ending balance
4. Book value
unit: yuan
project Original book value Accumulated depreciation Provision for impairment Book value Remarks
unit: yuan
project Original book value Accumulated depreciation Provision for impairment Book value
unit: yuan
( 5 ) Situation of fixed assets that have not completed the property right certificate
unit: yuan
project Book value Reasons for not getting the title certificate
134
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Purchased a house in Hainan for meeting rooms and housing; December 2017
Obtain a house purchase invoice monthly and transfer from construction in progress to fixed capital
Buildings (Hainan) 8,072,238.73
Produce. 700 jobs required to apply for a certificate after paying taxes
Buildings (Jiangsu) 206,937,439.98 has been renewed, the property right certificate has not yet been processed
other instructions
unit: yuan
other instructions
unit: yuan
( 1 ) Construction in progress
unit: yuan
Factory/building
658,191.25 658,191.25 3,914,768.02 3,914,768.02
Decoration
unit: yuan
135
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Mobile Young
90,841,9 10,536,7 72,975,5 28,403,1
Sound from
34.06 54.11 25.29 62.88
Moving line
Xinweitong
Xinweitong
Mold and
33,386,4 33,386,4
automation
70.94 70.94
equipment
Equipment installation
89,258,3 221,255, 222,572, 55,884,4 32,057,3
Installation and debugging-
67.53 983.34 601.08 46.95 02.84
other
Plant/Room
3,914,76 32,562,0 19,443,3 16,375,2 658,191.
House building
8.02 25.01 77.15 24.63 25
Decoration
Software and
300,000. 5,866,63 5,803,25 363,375.
R&D, office
00 2.62 7.04 58
Public system
unit: yuan
project Withdrawal amount for the current period Reason for provision
other instructions
( 4 ) Engineering materials
unit: yuan
136
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other instructions:
unit: yuan
project total
other instructions:
26. Intangible assets
unit: yuan
hair
And increase
(4) in
5,850,690.80 5,850,690.80
Construction transfer
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(5) Exchange
-12,911.24 213,135.72 200,224.48
Impact of rate changes
(1) Disposal
2. Accumulated amortization
(2) Exchange
-12,911.24 -10,439.16 -23,350.40
Impact of rate changes
(1) Disposal
1. Opening balance
(1) Provision
(1) Disposal
4. Ending balance
4. Book value
1. Book price at the end of the period
812,499,834.08 2,313,330.20 8,456,095.31 823,269,259.59
value
At the end of the period, intangible assets formed through the company's internal research and development accounted for 0.00% of the balance of intangible assets.
138
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( 2 ) The situation of land use rights that have not completed the ownership certificate
unit: yuan
project Book value Reasons for not getting the title certificate
total 780,203,572.52
other instructions:
unit: yuan
High-power car
other instructions
28. Goodwill
unit: yuan
139
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Elliment
2,592,408.13 2,592,408.13
Technology Co., Ltd
unit: yuan
Information about the asset group or combination of asset groups where the goodwill is located
On August 6, 2015, the company passed the 11th (temporary) meeting of the second board of directors, the 15th (temporary) meeting of the second board of directors, and the first temporary meeting in 2015.
At that time, the general meeting of shareholders approved that the company acquired Shenzhen Yalisheng Connector Co., Ltd., of which 41,884,816 shares were issued for the purchase of assets. The combined cost exceeds
The difference in the fair value of the identifiable assets and liabilities obtained in proportion to RMB 532,102,278.86 was confirmed as the related goodwill of Shenzhen Yalisheng Connector Co., Ltd.
The scope of the company’s evaluation on the evaluation base date is that the company’s acquisition of Shenzhen Yalisheng Connector Co., Ltd. will form a goodwill-related asset group, which is less than the goodwill on
The asset group determined during the value test is consistent. The scope of assessment includes assets related to goodwill.
Explain the process of goodwill impairment testing and key parameters (such as the growth rate of the forecast period when the present value of future cash flows are expected, the growth rate of the stable period, the profit rat
On the balance sheet date, the company conducted an impairment test on the goodwill formed by mergers and acquisitions of companies not under the same control. When predicting the recoverable amount,
The relevant asset group is used to predict the present value of its future cash flow. The company’s management prepares cash flow forecasts for the next 5 years (budget period) based on the latest financial budget.
It also extrapolates the cash flow of the following year, and assumes that the cash flow of the year beyond the five-year financial budget remains stable. When predicting future cash flows, according to the asset
Group future strategic goals, business development and business planning, by combining historical annual sales data and expected market demand changes, product expected price changes and other factors
Perform calculations to determine. When determining the discount rate used for the recoverable amount, the company considers the industry asset return rate of the asset group and the expected external capital risk interest rate
140
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Factors such as chemistry, etc., are adjusted and determined by analyzing relevant data of selected comparable companies.
At the end of the period, the company conducted an impairment test on the goodwill formed by the acquisition of Shenzhen Yalisheng Connector Co., Ltd., and hired Yinxin Asset Appraisal Co., Ltd. for its recoverable pr
We evaluated the value and issued Yinxin Financial Report (2020) Hu No. 065 "Shenzhen Xinwei Communication Co., Ltd.’s proposed goodwill impairment test involves Shenzhen Yalisheng Connection
The recoverable value of the asset group where the goodwill of the instrument company is located." After testing, the goodwill formed by the acquisition of the above-mentioned subsidiaries was not impaired at the end of the p
other instructions
other instructions
unit: yuan
unit: yuan
141
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( 3 ) Deferred income tax assets or liabilities listed as net amount after offset
unit: yuan
Deferred tax assets and liabilitiesDeferred income tax assets after Deferred
offset tax assets and liabilitiesDeferred income tax assets after offset
project
End-of-period offset amount Or debt ending balance Beginning offset amount Or the beginning balance of the liability
unit: yuan
total 3,089,758.16
( 5 ) The deductible losses of unrecognized deferred income tax assets will expire in the following years
unit: yuan
years Amount at the end of the period Opening amount Remarks
other instructions:
□ Yes √ No
unit: yuan
other instructions:
unit: yuan
142
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( 2 ) Situation of short-term loans that have been overdue and not repaid
The total amount of short-term loans that have been overdue and not repaid at the end of the period is RMB 0.00. The important short-term loans that have been overdue and have not been repaid are as follows:
unit: yuan
Borrower Ending balance Borrowing rate Overdue time Overdue interest rate
other instructions:
unit: yuan
among them:
among them:
other instructions:
unit: yuan
other instructions:
unit: yuan
total 137,546,990.98
At the end of the current period, the total amount of notes payable due and not paid is 0.00 yuan.
unit: yuan
143
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unit: yuan
other instructions:
□ Yes √ No
unit: yuan
unit: yuan
( 3 ) Situation of settled and unfinished projects formed by construction contracts at the end of the period
unit: yuan
project Amount
other instructions:
144
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unit: yuan
The amount and reason for the significant change in the book value during the reporting period
unit: yuan
unit: yuan
project Opening Balance Increase in this period Decrease in current period Ending balance
2. Post-employment benefits-set up
3,365,569.62 39,910,330.23 39,159,467.36 4,116,432.49
Save plan
unit: yuan
project Opening Balance Increase in this period Decrease in current period Ending balance
unit: yuan
145
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project Opening Balance Increase in this period Decrease in current period Ending balance
other instructions:
40. Taxes payable
unit: yuan
other instructions:
unit: yuan
( 1 ) Interest payable
unit: yuan
146
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unit: yuan
other instructions:
( 2 ) Dividends payable
unit: yuan
total 1,654,466.58
Other explanations, including important dividends payable that have not been paid for more than 1 year, should disclose the reasons for non-payment:
In February 2017, the restricted stock equity incentive plan granted employees 19,966,000 shares. In July 2017, based on the total share capital of 982,834,63.00 shares, to all shareholders
For every 10 shares, RMB 0.50 in cash was distributed, and the total dividends granted to restricted stocks amounted to RMB 998,300.00. 7,239,334.00 restricted shares were cancelled in June 2018, August 2018
Using 982,834,638.00 shares as the base number, RMB 0.80 in cash was distributed to all shareholders for every 10 shares. The remaining restricted shares at the end of the period were 12,726,666.00 shares.
Restricted stock dividends totaled 1,654,466.58 yuan. In 2019, because the company's performance did not meet the restrictions on the sale of restricted stock stipulated in the equity incentive plan, it was announced
unit: yuan
unit: yuan
other instructions
147
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unit: yuan
other instructions:
unit: yuan
other instructions:
□ Yes √ No
unit: yuan
unit: yuan
other instructions:
148
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( 1 ) Bonds payable
unit: yuan
( 2 ) Changes in the increase or decrease of bonds payable (excluding preferred stocks, perpetual bonds and other financial instruments classified as financial liabilities)
unit: yuan
total - - -
Basic information of other financial instruments such as preferred stocks and perpetual bonds issued at the end of the period
Changes in financial instruments such as preferred stocks and perpetual bonds issued at the end of the period
unit: yuan
Issued Beginning of period Increase in this period Decrease in current period End of term
Financial tool Quantity Book value Quantity Book value Quantity Book value Quantity Book value
Explanation of the basis for classifying other financial instruments as financial liabilities
other instructions
unit:
other instructions
unit: yuan
total
149
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unit: yuan
other instructions:
unit: yuan
project Opening Balance Increase in this period Decrease in current period Ending balance Cause
other instructions:
unit: yuan
unit: yuan
Plan assets:
unit: yuan
unit: yuan
Description of the content of the defined benefit plan and related risks, the impact on the company's future cash flow, time and uncertainty:
Explanation of major actuarial assumptions and sensitivity analysis results of defined benefit plans:
other instructions:
□ Yes √ No
unit: yuan
150
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Other explanations, including important assumptions and estimation explanations related to important estimated liabilities:
project Opening Balance Increase in this period Decrease in current period Ending balance Cause
unit: yuan
Shenzhen fifth
Process laboratory
5G antenna
Meepo Phased Sky
3,700,854.57 613,048.81 3,087,805.76 related to income
Line array key
technology R & D
5GMIMO days
Line system key 2,250,000.00 29,415.49 2,220,584.51 Related to assets
technology R & D
5G communication base
Dielectric material for station 2,500,000.00 2,500,000.00 related to income
Project subsidy
151
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Hua Luogeng
Management Committee
5,919,666.67 900,894.81 1,204,000.00 5,616,561.48 Related to assets
Fixed asset investment
Capital incentive
For 5G communication
High quality magnetoelectric
other instructions:
unit: yuan
other instructions:
53. Equity
unit: yuan
other instructions:
According to the ``Proposal on the Company's Reduction of Registered Capital'' and the ``Regarding the Repurchase and Cancellation'' reviewed and approved by the company's 2018 annual shareholders meeting held on
The Proposal on Certain Restricted Shares of the Equity Incentive Plan, and the “Regarding the Company’s Reduction of Registered Capital”, which was reviewed and approved at the 22nd meeting of the third board of directo
"Proposal", "Proposal on Repurchase and Cancellation of Certain Restricted Shares of Equity Incentive Plans", and "Proposal on Amending Part of the Articles of Association"
The decision was made to repurchase and cancel some 6,955,338.00 restricted stocks that have been granted but not yet unlocked by incentive objects that do not meet the incentive conditions, at a repurchase price of 11.71 yu
The company reduced its registered capital by RMB 6,955,338.00, and the registered capital after the change was RMB 968,639,966.00. It was approved by Lixin Certified Public Accountants (special general
(Partnership) On June 18, 2019, the capital verification report [2019] No. ZE10643 was verified.
152
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( 1 ) Basic information of other financial instruments such as preferred stocks and perpetual bonds issued at the end of the period
( 2 ) Changes in financial instruments such as preferred stocks and perpetual bonds issued at the end of the period
unit: yuan
Issued Beginning of period Increase in this period Decrease in current period End of term
Financial tool Quantity Book value Quantity Book value Quantity Book value Quantity Book value
Other equity instruments' changes in the current period, explanations of the reasons for the changes, and the basis for related accounting treatments:
other instructions:
unit: yuan
project Opening Balance Increase in this period Decrease in current period Ending balance
Other explanations, including changes in the current period and explanations of the reasons for the changes:
According to the ``Proposal on the Company's Reduction of Registered Capital'' and the ``Regarding the Repurchase and Cancellation'' reviewed and approved by the company's 2018 annual shareholders meeting held on
The Proposal on Certain Restricted Shares of the Equity Incentive Plan, and the “Regarding the Company’s Reduction of Registered Capital”, which was reviewed and approved at the 22nd meeting of the third board of directo
"Proposal", "Proposal on Repurchase and Cancellation of Certain Restricted Shares of Equity Incentive Plans", and "Proposal on Amending Part of the Articles of Association"
The decision was made to repurchase and cancel some 6,955,338.00 restricted stocks that have been granted but not yet unlocked by incentive objects that do not meet the incentive conditions, at a repurchase price of 11.71 yu
The company reduced its registered capital by RMB 6,955,338.00 and its capital reserve by RMB 74,491,669.98. The company has been operating Lixin Certified Public Accountants (special general partnership) in 2019
The capital verification report No. ZE10643 was verified on June 18, 2016.
In February 2019, the company paid RMB 1 million to purchase the minority shareholders' equity of Shenzhen Xinwei Precision Connector Co., Ltd., a holding subsidiary. After the purchase, the company held Shenzhen
100% equity of Shenzhen Xinwei Precision Connector Co., Ltd. The company's purchase of this item reduces the capital reserve by RMB 6,104,771.52;
For the equity incentive plan implemented in 2019, the accrued equity incentive cost was 33,904,763.00 yuan; the third batch of performance of the equity incentive plan implemented in 2017 did not meet the target.
The previously accrued equity incentive cost expense was RMB 19,839,900.00.
56. Treasury stocks
unit: yuan
project Opening Balance Increase in this period Decrease in current period Ending balance
Other explanations, including changes in the current period and explanations of the reasons for the changes:
According to the ``Proposal on the Company's Reduction of Registered Capital'' and the ``Regarding the Repurchase and Cancellation'' reviewed and approved by the company's 2018 annual shareholders meeting held on
153
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The Proposal on Certain Restricted Shares of the Equity Incentive Plan, and the “Regarding the Company’s Reduction of Registered Capital”, which was reviewed and approved at the 22nd meeting of the third board of directo
"Proposal", "Proposal on Repurchase and Cancellation of Certain Restricted Shares of Equity Incentive Plans", and "Proposal on Amending Part of the Articles of Association"
The decision was made to repurchase and cancel some 6,955,338.00 restricted stocks that have been granted but not yet unlocked by incentive objects that do not meet the incentive conditions, at a repurchase price of 11.71 yu
The company reduced its registered capital by RMB 6,955,338.00, reduced capital reserve by RMB 74,491,669.98, and reduced treasury shares by RMB 81,447,007.98.
The firm (special general partnership) issued a letter to the teacher’s report [2019] No. ZE10643 for verification of the capital verification report on June 18, 2019.
unit: yuan
Current period
Less: Early
Less: included in the previous period
Income from this period Included in other At the end of the period
Vesting after tax
project Opening Balance Other comprehensive income Less: income Vesting after tax
Before tax Comprehensive income In minority sharesamount
Current transfer in Tax expense At the parent company
amount Transfer in east
profit and loss
retained earnings
Other explanations, including the adjustment of the effective part of the cash flow hedge gains and losses into the initial confirmation amount of the hedged item:
unit: yuan
project Opening Balance Increase in this period Decrease in current period Ending balance
Other explanations, including changes in the current period and explanations of the reasons for the changes:
unit: yuan
project Opening Balance Increase in this period Decrease in current period Ending balance
The explanation of the surplus reserve, including the changes in the current period and the reasons for the changes:
unit: yuan
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Undistributed profit at the end of the previous period before adjustment 2,391,870,153.14 1,538,302,639.31
Plus: net profit attributable to owners of the parent company for the current period 1,019,890,543.35 987,800,365.63
1). Due to the retrospective adjustment of the "Accounting Standards for Business Enterprises" and related new regulations, the undistributed profit at the beginning of the period was affected by RMB 0.00.
2) Due to changes in accounting policies, the undistributed profit at the beginning of the period was affected by RMB 0.00.
3) Due to the correction of major accounting errors, the undistributed profit at the beginning of the period was affected by RMB 0.00.
4) The change in the scope of consolidation due to the same control affects the undistributed profit at the beginning of the period by RMB 0.00.
5) Other adjustments affect the undistributed profit at the beginning of the period by RMB yuan.
unit: yuan
□ Yes √ No
other instructions
unit: yuan
155
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other instructions:
other instructions:
unit: yuan
156
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other instructions:
unit: yuan
other instructions:
unit: yuan
other instructions:
unit: yuan
157
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unit: yuan
Long-term equity investment income calculated by the equity method 9,456,820.35 7,322,450.24
other instructions:
unit: yuan
other instructions:
unit: yuan
Sources of income from changes in fair value Current period Previous period
total 4,875,000.00
other instructions:
unit: yuan
total -5,565,725.49
other instructions:
□ Yes √ No
unit: yuan
158
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
other instructions:
unit: yuan
total 14,669.88
unit: yuan
unit: yuan
other instructions:
unit: yuan
159
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unit: yuan
unit: yuan
The effect of using deductible losses of deferred income tax assets not recognized in the previous period -3,089,758.16
other instructions
unit: yuan
160
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unit: yuan
unit: yuan
unit: yuan
unit: yuan
The currency that received the deposit certificate and the pledged loan pledge
556,999,971.33
funds
161
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unit: yuan
unit: yuan
162
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
2. Major investment and fundraising activities that do not involve cash receipts and expenditures
- -
move:
unit: yuan
Amount
among them: -
among them: -
among them: -
other instructions:
unit: yuan
Amount
among them: -
among them: -
among them: -
other instructions:
unit: yuan
163
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3. Balance of cash and cash equivalents at the end of the period 439,222,778.97 935,301,658.28
Among them: the parent company or its subsidiaries are restricted in use
4,953,185.25 1,634,629.50
Cash and cash equivalents
other instructions:
Explain the name of the "other" item and the amount of the adjustment to adjust the balance at the end of the previous year:
unit: yuan
project Book value at the end of the period Reason for restriction
total 4,953,185.25 -
other instructions:
unit: yuan
EUR
164
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Of which: USD
EUR
EUR 7.8155
other instructions:
( 2 ) Description of overseas operating entities, including for important overseas operating entities, their main overseas operating locations, accounting currency and selection basis should be disclosed,
165
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Hong Kong Xinwei Communication Co., Ltd. Hong Kong USD Business revenue and expenditure are mainly in U.S. dollars
Sunway Communication AB Sweden Swedish Krona Local currency
Nuoying International Co., Ltd. Hong Kong Hong Kong dollar Local currency
Alex Technology (Hong Kong) Co., Ltd. Hong Kong Hong Kong dollar Local currency
83. Hedging
Disclosure of qualitative and quantitative information about hedged items, related hedging tools, and hedged risks according to hedge categories:
unit: yuan
species Amount Listed items Amount included in current profit and loss
The fifth generation mobile communication terminal mm 4,938,294.50 Deferred income 69,219.05
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other instructions:
85 , other
( 1 ) Business combinations not under the same control that occurred in the current period
unit: yuan
other instructions:
unit: yuan
Combined cost
The method of determining the fair value of the merger cost, or the explanation of the consideration and its changes:
other instructions:
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unit: yuan
Method for determining the fair value of identifiable assets and liabilities:
other instructions:
( 4 ) Gains or losses arising from re-measurement of equity held before the purchase date at fair value
Whether there is a transaction that realizes business integration step by step through multiple transactions and obtains control during the reporting period
□ Yes √ No
( 5 ) Relevant explanations about the inability to reasonably determine the merger consideration or the fair value of the identifiable assets and liabilities of the purchased party on the purchase date or at the en
( 6 ) Other instructions
( 1 ) Business combinations under the same control that occurred in the current period
unit: yuan
Consolidation period
Consolidation period
Business combination
Constitute the same control The comparison period
The comparison
was period was
Name of merged party Merger date First Arrival Date First Arrival Date
Acquired rights Under the system Merger date Merger's receipt Merger's net
Weigh Basis Of the merged partyOf the merged party
proportion The basis of the merger Enter profit
income Net profit
other instructions:
( 2 ) Combination cost
unit: yuan
Combined cost
other instructions:
( 3 ) Book value of assets and liabilities of the merged party on the merger date
unit: yuan
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The contingent liabilities of the combined party assumed in the business combination:
other instructions:
3. Reverse purchase
Basic information of the transaction, the basis for the transaction to constitute a reverse purchase, whether the assets and liabilities retained by the listed company constitute a business and its basis, the determination of the mer
Adjust the amount of equity and its calculation when dealing with sex transactions:
4. Disposal of subsidiaries
Whether there is a situation where a single disposal of the investment in the subsidiary will lose control
□ Yes √ No
Whether there is a situation where the investment in the subsidiary is disposed of step by step through multiple transactions and the control is lost in the current period
□ Yes √ No
Explain the changes in the scope of consolidation caused by other reasons (for example, new subsidiaries, liquidation subsidiaries, etc.) and related conditions:
On January 10, 2019, the company established Jiangsu Xinwei Intelligent Automobile Interconnection Technology Co., Ltd. with natural persons Tang Yanmin and Li Gan. The company holds 68% of shares. Tang Yanmi
The shareholding ratio is 22%, and Li Gan's shareholding ratio is 10%, which was included in the scope of the consolidated statement during the reporting period.
The wholly-owned subsidiary Hong Kong Xinwei Communication Co., Ltd. established SUNWAY COMMUNICATION VIET NAM COMPANY LIMITED. Shareholding ratio
100%, included in the scope of consolidated statements during the reporting period.
6. Other
1. Interests in subsidiaries
Shareholding ratio
Subsidiary name Principal place of businessRegistration Business nature How to get
direct indirect
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RM.508, 5F.
Guanhua Center,
No.61. East
Alex Technology (Fragrant Enterprises not under the same control
Hong Kong Mody Road, R&D and sales platform 100.00%
Hong Kong) Limited Business merger
Tsim Sha Tsai,
Kowloon,
HongKong.
Export business
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Room
D,10/F,Tower
A,Billion Centre,I
Hong Kong Xinwei Communications has R&D, sales, investment
Hong Kong Wang Kwong 100.00% set up
Limited company Investment, purchase and sale platform
Road,Kowloon
Bay,Kowloon ,H
ongKong.
SunwayCommuni 07,
Sweden R&D and sales platform 100.00% established
cation AB Kista, Stockholm,
Sweden
20045 Stevens,
014-2356, USA.
(Sin-dong), Di
gital Empire 2,
Sin-dong,
cation Korea Co., Korea Sinwon-ro, R&D and sales platform 100.00% established
LTD Yeongtong-gu,
Suwon-si,
Gyeonggi-do,
Korea.
Calibration repair
Room
D,10/F,Tower
A,Billion Centre,I
Nuoying International Co., Ltd. Enterprises not under the same control
Hong Kong WangKwongRoa Investment platform 100.00%
Division Business merger
d,Kowloon
Bay,Kowloon ,H
ongKong
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Cable, automation
Production system
Make
3rd-Floor
A,Intellex-Shinyo
kohama
Shineway Communications Japan Building1-17-12,
Japan R&D and sales platform 100.00% set up
Style club Shinyokohama,
Kohoku-Ku, Yoko
hama-shi,Kanaga
wa,Japan.
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mouth
Approved range)
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Cover etc.
Note that the proportion of shares held in subsidiaries is different from the proportion of voting rights:
Basis for holding half or less of the voting rights but still controlling the investee, and holding more than half of the voting rights but not controlling the investee:
The company holds a 50% stake in Mianyang Beidou Electronics Co., Ltd., but still controls it. Mianyang Beidou Electronics Co., Ltd. is jointly owned by the company and Mianyang Ximag Technology Co., Ltd.
The company holds 50% of the shares and is mainly engaged in the research and development and production of wireless charging materials. It has established a board of directors of 3 people, including 2 directors appointed b
The company appoints 1 director, and the company is mainly responsible for the production and operation activities of the investee. Therefore, it is confirmed that the company has control over Mianyang Beidou Electronics C
The company holds 51.83% of Shanghai Guangguang New Material Technology Co., Ltd., but does not control the investee and is not included in the scope of consolidation this year.
For important structured entities included in the scope of consolidation, the basis for control:
other instructions:
unit: yuan
Note that the minority shareholder’s shareholding ratio is different from the voting rights ratio:
other instructions:
unit: yuan
unit: yuan
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other instructions:
( 4 ) Significant restrictions on the use of corporate group assets and repayment of corporate group debts
( 5 ) Financial support or other support provided to structured entities included in the scope of consolidated financial statements
other instructions:
2. The share of owner's equity in the subsidiary changes and the subsidiary still controls the transaction
In February 2019, the company paid RMB 1 million to purchase the minority shareholders' equity of Shenzhen Xinwei Precision Connector Co., Ltd., a holding subsidiary. After the purchase, the company held Shenzhen
100% equity of Shenzhen Xinwei Precision Connector Co., Ltd.
( 2 ) The impact of the transaction on minority shareholders’ equity and the owner’s equity attributable to the parent company
unit: yuan
--cash 1,000,000.00
Less: Subsidiary's share of net assets calculated based on the proportion of acquired/disposed equity -5,104,771.52
difference 6,104,771.52
other instructions
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Note that the shareholding ratio in a joint venture or joint venture is different from the voting rights ratio:
Basis for holding less than 20% of the voting rights but having significant influence, or holding 20% or more of the voting rights but not having significant influence:
unit: yuan
other instructions
unit: yuan
CLP Deqing Huaying Electronics Co., Ltd. CLP Deqing Huaying Electronics Co., Ltd.
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other instructions
unit: yuan
Joint ventures: - -
The total of the following items calculated according to the shareholding ratio - -
Associates: - -
The total of the following items calculated according to the shareholding ratio
- -
other instructions
( 5 ) Explanation of significant restrictions on the ability of joint ventures or joint ventures to transfer funds to the company
unit: yuan
Accumulative unrecognized loss Unrecognized loss in the current period (or current period
Name of joint venture or joint venture Accumulated unrecognized loss at the end of the period
Lose Shared net profit)
other instructions
Note that the shareholding ratio or the share enjoyed in joint operations is different from the voting rights ratio:
If a joint operation is a separate entity, the basis for classification as a joint operation:
other instructions
5. Equity in structured entities not included in the scope of consolidated financial statements
Relevant explanations for structured entities not included in the scope of consolidated financial statements:
6. Other
The company faces various financial risks in the course of its operations: credit risk, market risk and liquidity risk. The company’s overall risk management plan targets the
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Predictability, and strive to reduce the potential adverse effects on the company's financial performance.
1. Credit risk
Credit risk refers to the risk of the company's financial losses due to the failure of the counterparty to perform its contractual obligations. The company’s credit risk mainly comes from monetary funds,
Receivable bills, accounts receivable and other receivables. The management has formulated appropriate credit policies and continuously monitors these credit risk exposures.
The monetary funds held by the company are mainly deposited in financial institutions such as state-controlled banks and other large and medium-sized commercial banks. The management believes that these commercia
High reputation and asset status, there is no major credit risk, and there will be no major losses caused by the counterparty’s default.
For accounts receivable, other receivables and notes receivable, the company sets relevant policies to control credit risk exposure. The company is based on the financial status of customers, from
The possibility of obtaining a guarantee by a third party, credit history and other factors such as current market conditions, etc., evaluate the credit qualification of the customer and set the corresponding credit period.
The company will regularly monitor customer credit records. For customers with poor credit records, the company will use written reminders, shorten the credit period or cancel the credit period
Etc. to ensure that the company’s overall credit risk is within the controllable range.
As of the end of the reporting period, the accounts receivable of the company’s top five customers accounted for 52.42% of the company’s total accounts receivable.
The company's maximum credit risk exposure is the book value of each financial asset (including derivative financial instruments) in the balance sheet.
As of the end of the period, the company did not provide any guarantee that might expose the company to credit risk.
2. Market risk
The market risk of financial instruments refers to the risk of fluctuations in the fair value or future cash flow of financial instruments due to changes in market prices, including exchange rate risk, interest rate
The company's interest rate risk mainly arises from bank loans. Financial liabilities with floating interest rates make the company face cash flow interest rate risk, financial liabilities with fixed interest rates
The company faces fair value interest rate risk. The company determines the relative proportions of fixed-rate and floating-rate contracts based on the prevailing market environment.
The company's main business is located in China, and its main business is settled in RMB. However, the company’s confirmed foreign currency assets and liabilities and future foreign currency transactions (foreign curren
Assets and liabilities and foreign currency transactions are mainly denominated in US dollars and euros) exchange rate risk still exists. The company’s financial department is responsible for monitoring the company’s foreign
The scale of assets and liabilities to minimize the exchange rate risk faced; for this reason, the company may sign forward foreign exchange contracts or currency swap contracts to avoid foreign exchange
USD Other foreign currencies total USD Other foreign currencies total
Non-current liabilities
The company does not hold equity investments in other listed companies, and there is no price risk that should be disclosed.
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3. Liquidity risk
Liquidity risk refers to the risk that the company cannot obtain sufficient funds in a timely manner to meet the needs of business development or repay due debts and other payment obligations.
The company’s asset management team continues to monitor the company’s short-term and long-term funding needs to ensure that sufficient cash reserves are maintained; at the same time, it continues to monitor complia
The agreement stipulates that major financial institutions obtain commitments to provide sufficient reserve funds to meet short-term and long-term funding needs.
1. The ending fair value of assets and liabilities measured at fair value
unit: yuan
2. The basis for determining the market price of continuous and non-continuous first-level fair value measurement projects
3. Qualitative and quantitative information on the valuation techniques used and important parameters for continuous and non-continuous second-level fair value measurement projects
4. Continuous and non-continuous third-level fair value measurement projects, qualitative and quantitative information on valuation techniques and important parameters used
project Fair value at the end of the period Valuation techniques Important parameters
Equity instrument investment 33,610,344.93 Listed Companies Comparative Method Liquidity discount
Control premium
1. Investment in Shenzhen Well Vision Media Co., Ltd., with a shareholding ratio of 14.43%. The fair value is determined by valuation based on the comparison method of listed companies. The company 2019
The equity transfer occurred in December of 2010, and the transfer price was 1.25 yuan per share, which was used as the basis for fair value measurement to determine its fair value of 24,375,000.00 yuan.
2. Invest in Shenzhen Yichong Wireless Technology Co., Ltd., with a shareholding ratio of 1.23%. The valuation is based on the comparison method of listed companies, which has a low impact on the shareholding ratio of the
The book value approximates the fair value, and the fair value is determined to be RMB 7,200,000.00.
3. The investment in China Renewable Energy Fund, LP, with a 0.40% shareholding ratio, is evaluated according to the comparison method of listed companies, which has a low impact on the shareholding ratio of the invested
The book value is similar to the fair value, and its fair value is determined to be RMB 2,035,344.93.
5. Continuous third-level fair value measurement items, adjustment information between the beginning and end of the book value and sensitivity analysis of unobservable parameters
Gain or change
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6. Continuous fair value measurement items, if there is a conversion between various levels in the current period, the reasons for the conversion and the policy for determining the timing of the conversion
7. Changes in valuation technology during the current period and reasons for the changes
8. The fair value of financial assets and financial liabilities not measured by fair value
In addition to the above financial assets measured at fair value, other financial assets and financial liabilities held by the company that are not measured at fair value, such as accounts receivable, accounts payable, etc.,
Measure according to the measurement attributes specified in the company’s accounting policies.
9. Other
other instructions:
For details of the company's subsidiaries, please refer to the note "9. (1) Equity in subsidiaries".
For important joint ventures or associates of the company, see Note 9 (3) Equity in joint arrangements or associates.
The situation of other joint ventures or associates that have related party transactions with the company during the current period or the balance of the related party transactions with the company in the previous period is as fol
other instructions
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Other related party names Relationship between other related parties and the company
Shenzhen Yizhenggao Electronics Co., Ltd. Peng Hao, the actual controller of the company, serves as supervisor
Shenzhen United Yingjie Venture Capital Co., Ltd. Peng Hao, the actual controller of the company, serves as shareholder and executive director
Shenzhen Ding Lifang Wireless Technology Co., Ltd. Peng Hao, the actual controller of the company, serves as shareholder and supervisor
Xinwei Investment Management Co., Ltd. Peng Hao, the actual controller of the company, served as legal person and executive director
Shenzhen Tilianyun Technology Development Co., Ltd. Director Yu Chengcheng of the company served as shareholder, general manager and executive director
Shenzhen Huaqiang Industrial Co., Ltd. Deng Lei, an independent director of the company, serves as an independent director
ShineWing Certified Public Accountants (Special General Partnership) Peng Jianhua, the independent director of the company, is appointed as the financial business partner
Jiangxi Zhite New Materials Co., Ltd. Peng Jianhua, an independent director of the company, served as independent director
Shenzhen Weir Vision Media Co., Ltd. The company’s shareholding is 14.43%, and the actual controller of the company Peng Hao takes 9.57%
Beijing Zhonglun (Shenzhen) Law Firm Director Shan Lili of the company as a partner
Doctor Glasses Chain Co., Ltd. Director Shan Lili of the company serves as independent director
Guangdong Huashang Law Firm Deng Lei, an independent director of the company, serves as a senior partner
Wuhan Gaode Infrared Co., Ltd. Deng Lei, an independent director of the company, serves as an independent director
Fangda Group Co., Ltd. Deng Lei, an independent director of the company, serves as an independent director
Shenzhen University Xu Jian, independent director of the company, is appointed as a special professor
Shenzhen Zhongxing New Material Technology Co., Ltd. Independent director Xu Jian of the company as independent director
Guangdong Tianan New Materials Co., Ltd. Independent director Xu Jian of the company as independent director
Beijing Gaomeng New Materials Co., Ltd. Independent director Xu Jian of the company as independent director
Liaoning Aoke Chemical Co., Ltd. Independent director Xu Jian of the company as independent director
other instructions
5. Related transactions
( 1 ) Related transactions of purchasing and selling commodities, providing and receiving labor services
unit: yuan
Related party Related transaction contentCurrent period Approved transaction limit Whether it exceeds the transactionPrevious
limit period
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unit: yuan
Description of related transactions in the purchase and sale of goods, provision and acceptance of labor services
( 2 ) associated with the trustee / contracting and commissioned by the management / the pack case
The company's entrusted management/contracting situation table:
unit: yuan
Principal/Outsourcer Name
Name of Trustee/Contractor
Entrusted/contracted assets Custody income/contract
Escrow
income
confirmed in this period
Entrusted/contracted start date Entrusted/contracted end date
Weigh Weigh type Pricing basis Income/contracting income
unit: yuan
Principal/Outsourcer Name
Name of Trustee/Contractor
Entrusted/Outsourced Assets Custody fee/package feeEscrow
fixed confirmed in this period
Commission/Package start date Commission/Package end date
Weigh Weigh type Price basis Fee/Package Fee
( 3 ) Related leases
unit: yuan
Name of Lessee Types of leased assets Rental income recognized in the current period
Rental income recognized in the previous period
unit: yuan
Name of Lessor Types of leased assets Rental fee confirmed in the current periodRental fee confirmed in the previous period
( 4 ) Related guarantees
unit: yuan
Guaranteed party Guarantee amount Guarantee start date Guarantee expiry date Whether the guarantee has been fulfilled
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unit: yuan
guarantor Guarantee amount Guarantee start date Guarantee expiry date Whether the guarantee has been fulfilled
unit: yuan
Pull in
Take out
unit: yuan
( 1 ) Items receivable
unit: yuan
( 2 ) Payable items
unit: yuan
project name Related party Ending book balance Beginning book balance
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8. Other
unit: yuan
The total amount of equity instruments granted by the company in the current period 30,000,000.00
The total amount of equity instruments exercised by the company in the current period 0.00
The total amount of all equity instruments invalidated by the company in the current period 19,966,000.00
The scope of the exercise price of the stock options issued by the company at the end of the period
no and the remaining period of the contract
The scope of the exercise price of other equity instruments issued by the company at the end of the period and the remaining period of the contract are not
other instructions
unit: yuan
The company uses the Black-Scholes option pricing model to determine stock options and restrictions
Method for determining the fair value of equity instruments on the grant date
The fair value of the stock on the grant date.
The company’s balance sheet date during the waiting period will be based on the latest available
The basis for determining the number of exercisable equity instruments Follow-up information such as changes in the number of exercisers, completion of performance indicators, etc., can be revised
Reasons for the significant difference between the current estimate and the previous estimate
no
The cumulative amount of equity-settled share-based payment included in the capital reserve 344,023,986.00
The total amount of expenses confirmed by equity-settled share payments in the current period 33,904,762.00
other instructions
On September 19, 2019, the company's first extraordinary general meeting of shareholders in 2019 voted and passed the "Proposal on the Company's "Phase 3 Equity Incentive Plan (Draft)" and its summary",
"Proposal on the Company's "Measures for the Evaluation and Management of the Implementation of the Third Phase of Equity Incentive Plan". Accordingly, the total number of incentives granted to 12 people, including dire
It is planned to grant 30 million stock options to employees and other incentive objects. The right of stock options can be exercised one year from the date of grant and can be exercised within three years from the date of exerc
To subscribe for the company’s shares. Each share option gives the holder the right to subscribe for one common share of the company.
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According to the “About the Company <2016 Restricted Stock Incentive Plan (Draft)> and its extracts approved by the sixth meeting of the third board of directors on December 2, 2016
Important Proposals" and "About the Company <2016 Restricted Stock Incentive Plan (Draft)> which was reviewed and approved by the company's first extraordinary general meeting of shareholders on December 22, 2016
And its summary proposal", the company implemented the second phase of equity incentive plan on March 8, 2017, and depending on the completion of performance commitments, 36 months from the end of the share issuanc
In three phases, the equity incentive restricted shares were lifted. Because the performance of the current year did not meet the conditions for the third period of restricted stocks to be released from the restricted stocks as stipu
Back to the amount of equity incentive costs confirmed in the previous year: 19,839,900.00 yuan.
5. Other
1. Important commitments
As of December 31, 2019, the company has no important commitments that need to be disclosed.
2. Contingencies
As of December 31, 2019, the company has no important contingencies that need to be disclosed.
( 2 ) The company has no important contingencies that need to be disclosed, which should also be explained
3. Other
unit: yuan
2. Profit distribution
unit: yuan
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3. Sales returns
As of the reporting date, significant sales returns that do not need to be disclosed.
The outbreak of pneumonia caused by the new type of coronavirus broke out across the country in January 2020. The novel coronavirus infection pneumonia epidemic has had varying degrees of impact on the company's upstr
This will have a certain impact on the company’s production and sales in the first quarter. The company resumed work on February 10, 2020, and the company took active countermeasures to protect the annual
The production and sales plan ensures that market supply can be quickly restored after the epidemic is over.
unit: yuan
Correction of accounting errors Approval procedure Reasons for adopting future applicable law
2. Debt restructuring
3. Asset replacement
4. Annuity plan
5. Termination of operation
unit: yuan
project income cost The total profit Income tax expense Net profit Termination of business
profit
other instructions
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6. Branch information
unit: yuan
( 4 ) Other instructions
7. Other important transactions and matters that have an impact on investors' decision-making
8. Other
17. Notes on main items of the financial statements of the parent company
1. Accounts receivable
unit: yuan
Book balance Bad debt provision Book balance Bad debt provision
category
Book value
Accrual ratio Book value
Amount proportion Amount Amount proportion Amount provision ratio
example
among them:
among them:
Combination 2: Special29,808,8
wind 8,942,64 20,866,17
1.02% 30.00%
Risk portfolio 15.96 4.80 1.16
Combination 3: Related840,978,
parties 840,978,2 177,226,4 177,226,42
28.85% 10.64%
combination 273.59 73.59 28.21 8.21
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unit: yuan
Ending balance
name
Book balance Bad debt provision Withdrawal ratio Reason for provision
unit: yuan
Ending balance
name
Book balance Bad debt provision Withdrawal ratio Reason for provision
unit: yuan
Ending balance
name
Book balance Bad debt provision Withdrawal ratio
Combination by age
unit: yuan
Ending balance
name
Book balance Bad debt provision Withdrawal ratio
unit: yuan
Ending balance
name
Book balance Bad debt provision Withdrawal ratio
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If the provision for bad debts of accounts receivable is accrued in accordance with the general model of expected credit losses, please refer to the disclosure of other accounts receivable to disclose the relevant information of b
Disclosure by age
unit: yuan
1 to 2 years 119,620,853.44
2 to 3 years 10,884,643.71
total 2,927,148,906.57
( 2 ) Provision for bad debts accrued, recovered or reversed in the current period
unit: yuan
Among them, the amount of bad debt provision for the current period to be recovered or reversed is important:
unit: yuan
unit: yuan
unit: yuan
( 4 ) The top five accounts receivable of the ending balance collected by the owing party
unit: yuan
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( 6 ) The amount of assets and liabilities formed by the transfer of accounts receivable and continued involvement
other instructions:
2. Other receivables
unit: yuan
( 1 ) Interest receivable
unit: yuan
other instructions:
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( 2 ) Dividends receivable
unit: yuan
unit: yuan
other instructions:
( 3 ) Other receivables
unit: yuan
unit: yuan
Use loss (No credit impairment occurred) (Credit impairment has occurred)
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Changes in the book balance with significant changes in the loss provision for the current period
□ Applicable √ Not applicable
Disclosure by age
unit: yuan
1 to 2 years 956,730.42
2 to 3 years 2,887,245.03
3 to 4 years 4,996,539.34
total 1,547,458,668.66
3 ) The provision for bad debts accrued, recovered or reversed in the current period
unit: yuan
Among them, the reversal or recovery of bad debt provision for the current period is important:
unit: yuan
unit: yuan
unit: yuan
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5 ) Other receivables of the top five ending balances collected by the owing party
unit: yuan
unit: yuan
8 ) The amount of assets and liabilities formed by the transfer of other receivables and continued involvement
other instructions:
unit: yuan
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( 1 ) Investment in subsidiaries
unit: yuan
Opening balance (account Changes in the current period Ending balance (bookEnd of impairment provision
Investee
Face value) Additional investment
Reduce investment
Provision for impairment other value) Balance
Shenzhen Yalishenglian573,160,532.3
573,160,532.38
Connector Co., Ltd. 8
Shenzhen Xinweiwei
10,000,000.00 4,000,000.00 14,000,000.00
Electronic Co., Ltd
Elliment
63,023,420.61 63,023,420.61
Technology Co., Ltd
Management (Shenzhen)6,799,891.20
Co., Ltd. 6,799,891.20
Liability company
Shenzhen Jingxintong
Shenzhen Xinweijing
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1,073,490,094. 1,112,490,094.
total 39,000,000.00 25,000,000.00
19 19
unit: yuan
1. Joint venture
2. Joint ventures
Deqing Huaying
117,395,0 9,456,820 1,953,720 124,898,1
Electronic Limited 91.75 .35 .00 92.10
the company
( 3 ) Other instructions
unit: yuan
□ Yes √ No
other instructions:
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5. Investment income
unit: yuan
Long-term equity investment income calculated by the equity method 9,456,820.35 7,322,450.24
6. Other
unit: yuan
Government subsidies included in the current profit and loss (closed to corporate business
All relevant, according to the national unified standard for fixed or quantitative sharing 116,259,807.02
Except for effective hedging related to the company’s normal business operations
Gains and losses arising from changes in fair value, and disposal transactions 4,875,000.00
Financial assets, derivative financial assets, transactional finance
Investment income
Other non-operating income and expenses other than the above -958,228.17
total 93,995,523.99 -
For the company’s non-recurring profit and loss items defined in the "Explanatory Announcement No. 1 on Information Disclosure of Companies Publicly Issuing Securities-Non-recurring Profit and Loss", and the
Development Bank Securities’ Corporate Information Disclosure Explanatory Announcement No. 1-Non-recurring Gains and Losses The non-recurring gains and losses listed in
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( 1 ) Differences in net profit and net assets in financial reports disclosed in accordance with both international accounting standards and Chinese accounting standards
( 2 ) Differences in net profit and net assets in financial reports disclosed in accordance with overseas accounting standards and Chinese accounting standards
( 3 ) Explanation of the reasons for the differences in accounting data under domestic and foreign accounting standards. If the data that has been audited by overseas audit institutions is adjusted for difference
4. Other
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Shenzhen Xinwei Communication Co., Ltd. 2019 Annual Report Full Text
1. Financial statements with the company's seal, the legal representative, the person in charge of accounting work, and the person in charge of accounting signed and sealed.
2. The original audit report with the seal of the accounting firm and the signature and seal of the certified public accountant.
3. The originals of all company documents and announcements publicly disclosed on the website designated by the China Securities Regulatory Commission during the reporting period.
4. Other relevant information.
The place where the above reference documents are prepared: the office of the company's board of directors.
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