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    600775   CNE000000NB7

NANJING PANDA ELECTRONICS COMPANY LIMITED

(600775)
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Nanjing Panda Electronics : 2020 Annual Report 2021-04-29

04/28/2021 | 09:39pm EDT

Annual Report

(H Share Stock Code: 0 5 5 3)

(A Share Stock Code: 600775)

Contents

SECTION I

DEFINITIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2

SECTION II

COMPANY PROFILE AND MAJOR FINANCIAL INDICATORS. . . . . . . . . . . . . . . . . . . . . . . . .

5

SECTION III

AN OVERVIEW OF COMPANY'S BUSINESS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11

SECTION IV

DISCUSSION AND ANALYSIS OF THE OPERATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

15

SECTION V

SIGNIFICANT EVENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

52

SECTION VI

CHANGES IN ORDINARY SHARES AND INFORMATION OF SHAREHOLDERS. . . . . . . . . . . . .

87

SECTION VII

PROFILES OF DIRECTORS, SUPERVISORS, SENIOR MANAGEMENT AND STAFF . . . . . . . . . . .

98

SECTION VIII

CORPORATE GOVERNANCE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

114

SECTION IX

FINANCIAL REPORT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

133

SECTION X

DOCUMENTS AVAILABLE FOR INSPECTION. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

360

IMPORTANT NOTICE

  1. The board of directors (the "Board"), the supervisory committee and the directors, supervisors and senior management of the Company confirm that the information contained in this annual report is true, accurate and complete without any misrepresentation, misleading statements, or material omissions, and severally and jointly accept legal responsibility for the contents herein.
  2. All directors of the Company attended the eighteenth meeting of the ninth session of the Board of the Company held on 26 March 2021.
  3. BDO China Shu Lun Pan Certified Public Accountants LLP issued an unqualified auditors' report for the Company. The Company's financial statements for the year were prepared in accordance with the PRC Accounting Standards for Business Enterprises, and complied with the Hong Kong Companies Ordinance and the disclosure requirements of the Hong Kong Stock Exchange Listing Rules.
  4. Mr. Xia Dechuan, the Company representative, Mr. Hu Dali, the chief accountant, and Ms. Liu Xianfang, the accounting supervisor (person in charge of accounting matters) of the Company, declared that they confirmed the truthfulness, accuracy and completeness of the financial report contained in this annual report.
  5. Proposal for profit distribution or capitalization of capital reserves of the Company for the reporting period as considered by the Board: to distribute a cash dividend of RMB0.26 (tax inclusive) for every ten shares to all the shareholders on the basis of a total share capital of 913,838,529 shares as at 31 December 2020, with the total cash dividend to be distributed amounting to RMB23,759,801.75, and the balance to be carried forward to next year. The Company would not make any capitalization of capital reserve.
  6. Forward looking statements, including future plans and development strategies, contained in this annual report do not constitute a substantive commitment to investors by the Company. Investors are advised to pay attention to investment risks.
  7. Neither the Company's controlling shareholder nor any of its related parties have misappropriated the Company's funds for non-operating purposes.
  8. The Company did not provide external guarantees in violation of any specified decision-making procedures.
  9. The situation where the majority of the directors cannot warrant the authenticity, accuracy and completeness of the information contained in the annual report does not exist.
  10. Major risk warning: The Company has elaborated the potential risks in this annual report. For their details and the corresponding countermeasures, please refer to the paragraph headed "Potential Risks" under Section IV "Discussion and Analysis of the Operation" in this annual report.

1

Definitions

  1. Definitions

Unless the context otherwise requires, the following terms should have the following meanings in this report:

Definitions of frequently-used terms

Company/Nanjing Panda

Nanjing Panda Electronics Company Limited (南京熊猫電子股份有限公司)

Group

Nanjing Panda Electronics Company Limited and its subsidiaries

PEGL

Panda Electronics Group Limited (熊猫電子集團有限公司)

PEGL Group

Panda Electronics Group Limited and its subsidiaries

NEIIC

Nanjing Electronics Information Industrial Corporation (南京中電熊猫信

息產業集團有限公司)

NEIIC Group

Nanjing Electronics Information Industrial Corporation and its subsidiaries

CEC

China Electronics Corporation (中國電子信息產業集團有限公司)

CEC Group

China Electronics Corporation and its subsidiaries

Financial Company

China Electronics Financial Co., Ltd. (中國電子財務有限責任公司)

CEC Home Appliances

Nanjing CEC-Panda Home Appliances Co., Ltd. (南京中電熊猫家電有限

公司)

ENC

Nanjing Ericsson Panda Communication Co., Ltd. (南京愛立信熊猫通信有

限公司)

Shenzhen Jinghua

Shenzhen Jinghua Electronics Co., Ltd. (深圳市京華電子股份有限公司)

Electronics Equipment

Nanjing Panda Electronics Equipment Co., Ltd. (南京熊猫電子裝備有限公

Company

)

Information Industry

Nanjing Panda Information Industry Co., Ltd. (南京熊猫信息產業有限公

Company

)

2

Definitions (Continued)

Electronic Manufacture

Nanjing Panda Electronic Manufacture Co., Ltd. (南京熊猫電子製造有限

Company

公司)

Communications Technology

Nanjing Panda Communications Technology Co., Ltd. (南京熊猫通信科技

Company

有限公司)

Technology Development

Nanjing Panda Electronic Technology Development Company Limited (

Company

京熊猫電子科技發展有限公司)

Network Energy Company

an internal unincorporated entity under Nanjing Panda Electronics

Company Limited

Huage Plastic

Nanjing Huage Appliance and Plastic Industrial Co., Ltd. (南京華格電汽

塑業有限公司)

China Huarong

China Huarong Asset Management Co., Ltd. (中國華融資產管理股份有限

公司)

the Ministry of Finance

the Ministry of Finance of the People's Republic of China

CSRC

China Securities Regulatory Commission

SFC

Securities and Futures Commission of Hong Kong

Shanghai Stock Exchange

Shanghai Stock Exchange

Hong Kong Stock Exchange

The Stock Exchange of Hong Kong Limited

CSRC Jiangsu Bureau

Jiangsu Securities Regulatory Bureau of China Securities Regulatory

Commission

Company Law

Company Law of the People's Republic of China

Securities Law

Securities Law of the People's Republic of China

Articles of Association

Articles of Association of Nanjing Panda Electronics Company Limited

AFC

Auto Fare Collection

ACC

AFC Clearing Center

NCC

Network Control Center

EMS

Electronic Manufacturing Services

3

Definitions (Continued)

ODM

Original Design Manufacturer

MES system

Manufacturing Execution System, a management system of information

based production aiming at execution on plant floors of manufacturers

LTE/Tetra

LTE: Long Term Evolution, the standard for 4G wireless broadband

technology

Tetra: Terrestrial Trunked Radio

ERP

Enterprise Resource Planning, providing a management platform of

decision-making operation solutions for enterprise management team

and employees with systematic management idea on the basis of the

information technology

SAP-ERP

SAP (System Applications and Products), a software company in

Germany; SAP-ERP, generally referring to the ERP products under SAP

4

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Nanjing Panda Electronics Company Ltd. published this content on 29 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2021 01:38:05 UTC.


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Financials
Sales 2020 3 952 M 608 M 608 M
Net income 2020 77,3 M 11,9 M 11,9 M
Net cash 2020 1 801 M 277 M 277 M
P/E ratio 2020 88,5x
Yield 2020 0,35%
Capitalization 5 154 M 792 M 793 M
EV / Sales 2019 1,39x
EV / Sales 2020 1,09x
Nbr of Employees 3 247
Free-Float 64,6%
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Managers and Directors
De Chuan Xia General Manager & Executive Director
Dali Hu Chief Financial Officer & Chief Accountant
Gui Xiang Zhou Chairman
Ji Zhao Chairman-Supervisory Board
Wai Tsun Chu Independent Non-Executive Director