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1、1Shenzhen Textile (Holdings) Co., Ltd.The Semi-Annual Report 2022August 2022Shenzhen Textile (Holdings) Co., Ltd.The Semi-Annual Report 20222I. Important Notice, Table of Contents and DefinitionsThe Board of Directors ， the Supervisory Committee, the directors, the supervisors, and executives of the
2、Company guarantee that there are no significant omissions, fictitious or misleading statements carried in theReport and we will accept individual and joint responsibilities for the truthfulness, accuracy and completeness ofthe Report.Mr.Yin Kefei, The Company leader, Mr. He Fei, Chief financial offi
3、cer and the Ms.Zhu Jingjing, the person incharge of the accounting department (the person in charge of the accounting )hereby confirm the authenticity andcompleteness of the financial report enclosed in the semi-report.All the directors attended the board meeting for the review of this Report.Concer
4、ning the forward-looking statements with future planning involved in the Report, they do not constitute asubstantial commitment for investors, Investors and related persons shall keep sufficient risk awareness, and shallunderstand the differences between plans, forecasts and commitments, and remind
5、investors of investment risks.The company has the macroeconomic risks, market competition risks and raw material risks. Investors are advisedto pay attention to investment risks. For details, please refer to the possible risk factors that the company may facein the X Risks facing the Company and cou
6、ntermeasures in the Section III Management Discussion &Analysis.The Company has no plan of cash dividends carried out, bonus issued and capitalizing of common reserves either.This Report has been prepared in both Chinese and English. In case of any discrepancy, the Chinese version shallprevail.Shenz
7、hen Textile (Holdings) Co., Ltd.The Semi-Annual Report 20223Table of ContentsI.Important Notice, Table of contents and DefinitionsII. Company Profile & Financial Highlights.III. Management Discussion &AnalysisIV. Corporate GovernanceV. Environmental & Social ResponsibilityVI. Important EventsVII. Ch
8、ange of share capital and shareholding of Principal ShareholdersVIII. Situation of the Preferred SharesIX. Corporate BondX. Financial ReportShenzhen Textile (Holdings) Co., Ltd.The Semi-Annual Report 20224Documents available for inspectionI. Accounting statements carried with personal signatures and
9、 seals of legal representative, General Manager,Chief Financial officer.II. The texts of all the Companys documents publicly disclosed on the newspapers and periodicals designated byChina Securities Regulatory Commission in the report period.III. Other relative documents.The above documents were com
10、pletely placed at the Office of Secretaries of the Board of Directors of theCompany.Shenzhen Textile (Holdings) Co., Ltd.The Semi-Annual Report 20225DefinitionTerms to be definedRefers toDefinitionCompany/The Company/ Shen TextileRefers toShenzhen Textile (Holdings) Co., LtdArticles ofAssociationRef
11、ers toArticles ofAssociation of Shenzhen Textile (Holdings) Co.,LtdActual controller / National AssetsRegulatory Commission of ShenzhenMunicipal Peoples GovernmentRefers toNationalAssets Regulatory Commission of ShenzhenMunicipal Peoples GovernmentThe Controlling shareholder/ ShenzhenInvestment Hold
12、ing Co., Ltd.Refers toShenzhen Investment Holding Co., Ltd.Shenchao TechnologyRefers toShenzhen Shenchao Technology Investment Co., Ltd.SAPO PhotoelectricRefers toShenzhen Shengbo Photoelectric Technology Co., Ltd.Jinjiang GroupRefers toHangzhou Jinjiang Group Co., Ltd.Nitto DenkoRefers toNitto Denk
13、o CorporationBeauty CenturyRefers toShenzhen Beauty Century Garment Co., Ltd.Shenzhen XieliRefers toShenzhen XieliAuto Co., Ltd.Jinxin InvestmentRefers toLanxi Jinxin Investment Management Co., Ltd.Changxing JunyingRefers toChangxing Junying Eqkuity Investment Partnership（LP）Huaiji InvestmentRefers
14、toHangzhou Huaiji Investment Management Co., Ltd.Jinhang InvestmentRefers toHangzhou Jinhang Investment Fund Partnership（LP）Line 4Refers toT TFT-LCD polarizer II phase Line 4 projectLine 5Refers toTFT-LCD polarizer II phase Line 5 projectLine 6Refers toTFT-LCD polarizer II phase Line 6 projectLine 7
15、Refers toIndustrialization project of polaroid for super large size TV“CSRC”Refers toChina Securities Regulatory CommissionCompany LawRefers toCompany Law of the Peoples Republic of ChinaSecurities LawRefers toSecurities Law of the Peoples Republic of ChinaThe ReportRefers toThe Semi-annual Report 2
16、022Shenzhen Textile (Holdings) Co., Ltd.The Semi-Annual Report 20226II. Company Profile & Financial HighlightsI. Company ProfileStock abbreviationShen TextileA,Shen Textile BStock code000045,200045Stock exchange for listingShenzhen Stock ExchangeName in Chinese深圳市纺织(集团)股份有限公司Chinese abbreviation (If
17、 any)深纺织English name (If any)SHENZHEN TEXTILE (HOLDINGS) CO., LTDEnglish abbreviation (If any)STHCLegal RepresentativeYin KefeiNote: Zhang Jian, the former Chairman of the Company, resigned on August 2, 2022. For details, please refer tothe Companys Announcement on the Resignation of the Chairman of
18、 the Company (No.2022-23) on CNINF(http:/). After the election of the 14th Meeting of the Eighth Board of Directors, Yin Kefeiwas elected as the Chairman of the Eighth Board of Directors and the legal representative of the Company. Fordetails, please refer to the Companys Announcement on Resolution
19、of the Fourteenth Meeting of the EighthBoard of Directors (No.:2022-24) on CNINF (http:/).II. Contact person and contact mannerBoard secretarySecurities affairs RepresentativeNameJiang PengLi ZhenyuContact address6/F, Shenfang Building, No.3 Huaqiang NorthRoad, Futian District, Shenzhen6/F, Shenfang
20、 Building, No.3 Huaqiang NorthRoad, Futian District, ShenzhenTel0755-837760430755-83776043Fax0755-837761390755-83776139E-III. Other1.Way to contact the CompanyWhether registrations address, offices address and codes as well as website and email of the Company changed inreporting period or notApplica
21、ble NotApplicableThe registered address, office address and their postal codes, website address and email address of the Companydid not change during the reporting period. The said information can be found in the 2021Annual Report.2.Information inquiryWhether information disclosure and preparation p
22、lace changed in reporting period or not Applicable Not applicableNone of the official presses, website, and place of enquiry has been changed in the semi report period. For detailsplease find the Annual Report 2021.Shenzhen Textile (Holdings) Co., Ltd.The Semi-Annual Report 202273. Other relevant in
23、formationDid any change occur to other relevant information during the reporting period?Applicable Not applicableIV. Summary of Accounting data and Financial indexMay the Company make retroactive adjustment or restatement of the accounting data of the previous years Yes NoReporting periodSame period
24、 of last yearYoY+/-（%）Operating income（RMB）1,445,137,309.091,101,536,407.3831.19%Net profit attributable to theshareholders of the listed company（RMB）42,433,525.1076,603,074.39-44.61%Net profit after deducting of non-recurring gain/loss attributable to theshareholders of listed company（RMB）34,970,97
25、5.4761,814,528.89-43.43%Cash flow generated by businessoperation, net（RMB）79,438,234.59-52,643,536.25250.90%Basic earning per share(RMB/Share)0.08380.1509-44.47%Diluted gains pershare(RMB/Share)(RMB/Share)0.08380.1509-44.47%Weighted average ROE(%)1.50%2.74%-1.24%As at the end of thereporting periodA
26、s at the end of last yearYoY+/-（%）Total assets（RMB）5,690,609,337.035,496,647,107.833.53%Net assets attributable to shareholder oflisted company（RMB）2,833,979,078.562,816,795,889.890.61%V. Differences between accounting data under domestic and overseas accounting standards1. Differences of net profit
27、 and net assets disclosed in financial reports prepared under international and Chineseaccounting standards.Applicable Not applicableNo difference.2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and Chineseaccounting standards.Applicable Not applica
28、bleThe Company had no difference of the net profit or net assets disclosed in financial report, under either foreignaccounting rules or Chinese GAAP(Generally AcceptedAccounting Principles) in the period.VI.Items and amount of deducted non-current gains and lossesApplicable Not applicableShenzhen Te
29、xtile (Holdings) Co., Ltd.The Semi-Annual Report 20228In RMBItemsAmountNotesNon-current asset disposal gain/loss(including the write-off part forwhich assets impairment provision is made)-11,114.72Govemment subsidy recognized in current gain and loss(excluding thoseclosely related to the Companys bu
30、siness and granted under the statespolicies)10,780,654.48Other benefits ofgovernment subsidies thatare confirmed related to themain business.Other non-business income and expenditures other than the above1,555,024.76It is mainly due to thecompensation for losses.Less :Influenced amount of income tax
31、113,018.21Influenced amount of minor shareholdersequity (after tax)4,748,996.68Total7,462,549.63Details of other profit and loss items that meet the non-recurring profit and loss definitionApplicable Not applicableFor the Companys non-recurring gain/loss items as defined in the Explanatory Announcem
32、ent No.1 oninformation disclosure for Compaines Offering their Securities to the Public-Non-recurring Gains and Losses andits non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosurefor Companies offering their securities to the public-non-recurring
33、 Gains and losses which have been defined asrecurring gains and losses, it is necessary to explain the reason.Applicable Not applicableNone of Non-recurring gain /loss items recorgnized as recurring gain /loss/items as defined by the informationdisclosure explanatory Announcement No.1- Non recurring
34、 gain/loss in the report period.Shenzhen Textile (Holdings) Co., Ltd. The Semi-Annual Report 20229III. Management Discussion & AnalysisI.Main Business the Company is Engaged in During the Report Period(I)Main Business the Company is Engaged in During the Report PeriodThe companys main business cover
35、ed such the high and new technology industry as represented by LCDpolarizer, its own property management business and the retained business of high-end textile and garment.During the reporting period, the Companys main business has not changed significantly. First, theCompany continuously optimized
36、the product structure. Since 2022, it has continuously optimized the productstructure and increased the market share of high-margin products through the adjustment of internal orderstructure and flexible production; Second, it continued to introduce new projects. Facing the downward marketexpectatio
37、n, the Company mobilized resources to actively promote the implementation of new projects; Third, itcontinuously promoted lean management, strictly controlled manufacturing costs, reduced material loss,strengthened material recycling, and achieved all-round cost reduction and efficiency improvement;
38、 Fourth, itfully promoted the project construction and ramp up of Line 7. At the end of last year, it adjusted the operationstrategy of Line 7. In the first half of the year, Line 7 was optimized and improved in terms of quality, processand equipment, the product yield was greatly improved, and the
39、unit consumption of membrane materials andchemicals gradually decreased; Fifth, it focused on the safety guarantee of raw material supply chain and therisk of price increase of chemical raw materials, and sped up the evaluation and use of chemical alternative rawmaterials; Sixth, it strengthened the
40、 management of inventory and accounts receivable, improved asset turnoverand reduced capital occupation; Seventh, it jointly tackled with the pandemic, actively fulfilled socialresponsibilities, and formulated the implementation plan of rent reduction and exemption for the Company andits wholly-owne
41、d enterprises in combination with the actual business situation, so as to tide over the difficultieswith the market subjects.During the reporting period, the Company achieved operating income of RMB 1.445 billion, with a year-on-year increase of 31.19%; Realized a total profit of RMB 70,445,600, wit
42、h a year-on-year decrease of 41.93%;And achieved a net profit attributable to shareholders of listed companies of RMB 42,433,500, with a year-on-year decrease of 44.61%. The main reasons for the decrease in net profit attributable to shareholders of listedcompanies in this reporting period compared
43、with the same period of last year are as follows: First, theCompanys Line 7 was not put into production in the same period of last year, and Line 7 entered the ramp upstage after it was put into production in the second half of 2021. Higher depreciation and amortization of fixedassets led to higher
44、unit cost of products, and the interest of project loans after Line 7 was transferred to fixedassets was included in the profit and loss in this reporting period; Second, this year, in order to jointly cope withthe COVID-19 and actively fulfill their social responsibilities, the Company and its whol
45、ly-owned enterprisesreduced or exempted the rental of eligible properties from March 1, 2022 to August 31, 2022, and the rentalincome in this period decreased significantly year on year. During the reporting period, technical indicatorssuch as yield and loss rate of Line 7 were further improved, veh
46、icle speed, production and sales volume werefurther enhanced, and the business performance improved month by month. Excluding the incomparable factorssuch as ramp up of Line 7, and rent reduction and exemption, the Company overcame the adverse factors suchas the downward market and rising raw materi
47、al prices, further optimized the product and customer structure,and improved the lean management level. Compared with the same period of last year, it maintained a stableoperating performance this reporting period.(II)Main products and their purposesShenzhen Textile (Holdings) Co., Ltd. The Semi-Ann
48、ual Report 202210Currently, the Company has 7 mass production lines for polarizers, covering TN, STN, TFT, OLED, 3D, dyesheet, optical film for touch screen and other fields, mainly used in TV, NB, navigator, Monitor, vehicle,industrial control, instruments, smart phones, wearable devices, 3D glasse
49、s, sunglasses and other products，thecompany has become a mainstream panel company such as Huaxing Optoelectronics, BOE, Sharp, LGD,Shenzhen Tianma, Huike, etc. by continuously strengthening sales channel expansion and building its ownbrand. Qualified suppliers.The Companys main products made in each
50、 polarizer production line and their application are as follows:LinePlaceProduct breadthPlanned capacityMain projuctLine 1Pingshan500mm600，000 m2TN/STN/ Dye pieceLine 2Pingshan500mm1.2 million m2TN/STN/CSTNLine 3Pingshan650mm1 million m2TFTLine 4Pingshan1490mm6 million m2TFTLine 5Pingshan650mm2 mill