《舜宇光学科技(集团)有限公司2018年年度报告(307页).PDF》由会员分享,可在线阅读,更多相关《舜宇光学科技(集团)有限公司2018年年度报告(307页).PDF(307页珍藏版)》请在三个皮匠报告上搜索。
1、2018Annual Report年報Sunny Optical Technology(Group)Company Limited舜宇光學科技(集團)有限公司Sunny Optical Technology(Group)Company Limited(the“Company”or“Sunny Optical”,together with its subsidiaries,the“Group”)(Stock Code:2382.HK)is a leading integrated optical components and products manufacturer with more tha
2、n thirty years of history in the Peoples Republic of China(the“PRC”or“China”).The Group is principally engaged in the design,research and development(“R&D”),manufacture and sales of optical and optical-related products.Such products include optical components(such as glass spherical and aspherical l
3、enses,plane products,handset lens sets,vehicle lens sets and other various lens sets)(the“Optical Components”),optoelectronic products(such as handset camera modules,three dimensional(“3D”)optoelectronic products,security cameras and other optoelectronic modules)(the“Optoelectronic Products”)and opt
4、ical instruments(such as microscopes,optical measuring instruments and intelligent equipment for testing)(the“Optical Instruments”).The Group focuses on the application fields of optoelectronic-related products,such as handsets,digital cameras,vehicle imaging systems,security surveillance systems,op
5、tical measuring instruments and automated factories,which are combined with optical,electronic,software and mechanical technologies.舜宇光學科技(集團)有限公司(本公司 或 舜宇光學,連同其附屬公司 本集團)(股份代號:2382.HK)為一間中華人民共和國(中國)領先並擁有逾三十年歷史的綜合光學零件及產品生產商。本集團主要從事設計、研究與開發(研發)、生產及銷售光學及其相關產品。該等產品包括光學零件(例如玻璃球面及非球面鏡片、平面產品、手機鏡頭、車載鏡頭及其他各種
6、鏡頭)(光學零件)、光電產品(例如手機攝像模組、三維(3D)光電產品、安防相機及其他光電模組)(光電產品)及光學儀器(例如顯微鏡、光學測量儀器及智能檢測設備)(光學儀器)。本集團專注於需綜合運用光學、電子、軟件及機械技術的光電相關產品的應用領域:如手機、數碼相機、車載成像系統、安防監控系統、光學測量儀器及自動化工廠等。CORPORATE PROFILE公司簡介Corporate Profile公司簡介2Five-year Financial Summary五年財務概要6Chairmans Statement主席報告11Management Discussion and Analysis管理層討
7、論與分析45Directors and Senior Management董事及高級管理層53Corporate Governance Report企業管治報告84Environmental,Social and Governance Report環境、社會及管治報告119Directors Report董事會報告141Independent Auditors Report獨立核數師報告147Consolidated Statement of Profit or Loss and Other Comprehensive Income綜合損益及其他全面收益表148Consolidated Sta
8、tement of Financial Position綜合財務狀況表150Consolidated Statement of Changes in Equity綜合權益變動表152Consolidated Statement of Cash Flows綜合現金流量表155Notes to the Consolidated Financial Statements綜合財務報表附註303Corporate Information公司資料CONTENTS目錄(In Renminbi(“RMB”)millions,except per share amounts)(人民幣百萬元,每股金額除外)Fiv
9、e-year Financial Summary五年財務概要02 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 2018For the year ended 31 December截至十二月三十一日止年度200152014二零一八年二零一七年二零一六年二零一五年二零一四年Consolidated綜合 Operating results 經營業績Revenue 收入25,931.922,366.314,611.810,696.28,426.5 Gross profit 毛利4,913.14,802.
10、82,680.11,763.41,289.4Finance costs 融資成本(202.1)(48.8)(16.2)(16.0)(14.0)Profit before tax 除稅前溢利2,851.33,318.31,446.4862.3634.0Income tax expense 所得稅開支(338.6)(404.2)(174.8)(98.8)(72.7)Profit for the year 年內溢利2,512.72,914.11,271.6763.5561.3 Attributable to:歸屬:Owners of the Company 本公司股東2,490.92,901.61,
11、270.8761.6566.1 Non-controlling interests 非控股權益21.812.50.81.9(4.8)2,512.72,914.11,271.6763.5561.3 Earnings per share Basic(in RMB)每股盈利基本(人民幣)2.282.671.180.710.53 Assets and liabilities 資產及負債Non-current assets 非流動資產6,083.74,090.92,318.71,619.21,389.4Current assets 流動資產16,768.411,635.49,317.96,017.14,
12、204.4 Total assets 總資產22,852.115,726.311,636.67,636.35,593.8 Bank borrowings 銀行借貸1,482.41,347.9904.3683.2521.6Bonds payable 應付債券4,080.0Other liabilities 其他負債8,001.66,859.25,819.03,108.21,821.6 Total liabilities 總負債13,564.08,207.16,723.33,791.42,343.2 Net assets 資產淨值9,288.17,519.24,913.33,844.93,250.
13、6 Equity attributable to owners of the Company 本公司股東應佔權益9,234.17,488.54,895.33,831.03,247.7Non-controlling interests 非控股權益54.030.718.013.92.9 Total equity 權益總額9,288.17,519.24,913.33,844.93,250.6 Key Financial Ratio 主要財務比率 Gross profit margin(%)毛利率(%)18.921.518.316.515.3Net profit margin(%)淨利率(%)9.71
14、3.08.77.16.7Gearing ratio(%)負債比率(%)24.38.67.88.99.3Current ratio(times)流動比率(倍)1.91.51.41.61.8Quick ratio(times)速動比率(倍)1.61.21.01.41.4(In Renminbi(“RMB”)millions,except per share amounts)(人民幣百萬元,每股金額除外)Five-year Financial Summary五年財務概要舜宇光學科技(集團)有限公司 2018 年報 03 0.530.712.282015二零一五年2016二零一六年2017二零一七年2
15、014二零一四年二零一八年20182.671.180.00.51.01.52.02.53.0(人民幣元)TREND ChARTS OF MAIN FINANCIAl INDExES IN ThE RECENT FIvE YEARS主要財務指標近五年的變化趨勢圖Net Assets資產淨值Profit for the Year Attributable to Owners of the Company本公司股東應佔年內溢利Revenue收入Earnings Per Share Basic每股盈利基本9,288.1 million 百萬元2,490.9 million 百萬元25,931.9 mi
16、llion 百萬元2.28 RMB 人民幣元3,250.63,844.99,288.12015二零一五年2016二零一六年2017二零一七年2014二零一四年二零一八年20187,519.24,913.301,0002,0003,0004,0005,0006,0007,0008,0009,00010,00005,00025,00020,00015,00010,0002016二零一六年2017二零一七年2015二零一五年2018二零一八年2014二零一四年80.8%16.6%2.6%8,426.576.8%21.2%2.0%10,696.219.2%79.5%1.3%22,366.320.2%7
17、8.0%1.8%14,611.830,00075.6%23.2%1.2%25,931.9Optical ComponentsOptoelectronic ProductsOptical Instruments761.61,270.8566.12015二零一五年2016二零一六年2017二零一七年2014二零一四年二零一八年20182,490.92,901.605001,0001,5002,0002,5003,000共同創造CREATE TOgEThER06 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 2018Dear
18、 Shareholders,The Company is pleased to present to the shareholders the annual report for the year of 2018.Taking advantages of the favourable opportunities arising from the further upgrading of handset camera products used in the smartphone industry and the rapid development of the vehicle imaging
19、field,the Group delivered promising returns for our shareholders in 2018.致股東:本公司欣然向各位股東提呈二零一八年之全年業績報告。本集團繼續把握智能手機行業攝像頭產品升級換代及車載成像領域快速發展的良好機遇,於二零一八年為股東創造了理想的回報。Chairmans Statement主席報告Mr.YE Liaoning 葉遼寧先生舜宇光學科技(集團)有限公司 2018 年報 07 BUSINESS REvIEWLooking back to 2018,the world economy maintained a modes
20、t growth but its momentum has slowed down.The economic situation,inflation level and monetary policy of major economies have been greatly diverse.As the worlds second largest economy,Chinas economy was largely stable with uncertainties.Under the influence of multiple factors such as the heating up o
21、f trade tensions between China and the USA and the deleveraging in China,resulting in higher volatility in the financial market,the exchange rate of USD to RMB nearly reached“7”twice this year.The cooling down of macro environment further lowered the growth momentum of smartphones,which has already
22、shown a sign of saturation.The smartphone market of China has been continuously weak.However,Chinese domestic mobile brands seized opportunities amid crises in due time.They rapidly captured part of the mid-and high-end market by continuously increasing investment in technological innovation and pro
23、duct upgrade,with a special focus on perfecting product quality and customer experience.In terms of market position,they have turned from followers to innovators.Apart from the good performance in the Chinese market,they actively explored overseas markets and achieved rapid progress in the Indian an
24、d Southeast Asian markets.Meanwhile,with the promising prospect of the commercialization of 5G technology,smartphone manufacturers have made significant investment in such business,showing enormous potential in the future.Furthermore,affected by unstable macro environment,the growth rate of the gene
25、ral automobile market in 2018 slowed down compared to that for last year.Nevertheless,it is encouraging that intellectualization has become the development trend of the automobile industry.Various kinds of intelligent operating systems are no longer for luxury cars only and mid-end cars are increasi
26、ngly equipped with such systems.Currently,advanced driver assistance systems(“ADAS”)has become one of the fastest-growing sectors in the automotive electronic market.Cameras,mainly used for capturing images,identifying objects/people,real-time monitoring and intelligent interaction in the ADAS syste
27、m,are expected to see rapid growth.Being a leading handset lens sets and handset camera modules provider as well as the largest vehicle lens sets supplier in the world,the Group has benefited thereby.業務回顧回顧二零一八年,世界經濟繼續溫和增長,但動能有所放緩,且主要經濟體的經濟形勢、通脹水準和貨幣政策均發生明顯分化。中國作為世界第二大經濟體,經濟運行穩中有變,在中美貿易摩擦升級疊加國內去槓桿等多
28、重因素作用下,金融市場波動加劇,且美元兌人民幣匯率在年內兩度逼近 7的整數關口。大環境的遇冷進一步拉低原本就趨於飽和的智能手機行業的發展動力,中國智能手機市場持續低迷。然而,中國本土手機品牌卻在危險中適時抓住機會,不斷加大技術創新和產品升級,快速搶佔了部分中高端市場,對產品品質和客戶體驗更是精益求精。市場地位已從以往的跟隨者蛻變成創新者。除了在中國市場表現亮眼,他們也積極出海,在印度、東南亞市場獲得了長足的進步。同時,隨著5G技術商業化趨勢的明朗,智能手機廠商早已投入重金展開佈局,未來的潛力巨大。此外,受不穩定的宏觀環境的影響,二零一八年整體汽車市場的增速與去年相比有所趨緩。但可喜的是,智能化
29、成為了汽車行業的發展趨勢,各種智能化操控系統不再是豪華車的配置,而是逐漸擴展至中端車型。目前,高級駕駛輔助系統(ADAS)成為汽車電子市場增長最快的領域之一。而作為ADAS系統中主要用於影像捕捉、物體人像識別、實時監控、智能交互的攝像頭勢必增長迅速。作為全球領先的手機鏡頭和手機攝像模組供應商以及全球最大的車載鏡頭供應商,本集團因此受惠。Chairmans Statement主席報告08 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 2018In spite of the complex and changing ext
30、ernal environment,with strong R&D strengths,precise market distribution and persistence on the development strategy of“Improving and Expanding the Existing Advantageous Businesses”,the three major business segments of the Group,namely Optical Components,Optoelectronic Products and Optical Instrument
31、s,have a solid and stable development,which further consolidated the Groups leading position in the industry as an optical expert.Furthermore,in order to achieve the ambitious goal as soon as possible,the Group laid a solid foundation by means of continuing to base itself in the promising optoelectr
32、onic industry,promoting the implementation of new transformation and upgrade and pursuing the construction of new production base.OPERATIONAl PERFORMANCEIn 2018,all staff united as one and continued to actively adhere to the core value of the corporate culture of“Create Together”,under the leadershi
33、p of the passionate and experienced management team.With the motivation of R&D,enhancement of R&D team,increase of the investment in core technology,consolidation of the resources on core manufacturing and further optimization of the product structure and the client base,the Group ensured its compre
34、hensive competitive strengths of the products in the market and consolidated the leading market position.The Groups revenue for the year ended 31 December 2018 increased by approximately 15.9%to approximately RMB25,931.9 million.Profit for the year attributable to owners of the Company decreased by
35、approximately 14.2%to approximately RMB2,490.9 million.Besides,the basic earnings per share decreased by approximately 14.6%to approximately RMB227.92 cents.The Board has proposed an annual dividend of approximately RMB0.568(equivalent to HK$0.662)(2017:approximately RMB0.661)per share.儘管外部環境複雜多變,憑藉
36、強大的研發實力、精準的市場佈局、以及堅持 做精做透現有優勢業務的發展策略,本集團的光學零件、光電產品及光學儀器三大核心業務發展穩健,進一步鞏固了本集團作為光學專家在行業中的領先地位。此外,本集團將繼續立足於前景廣闊的光電產業,推進新的轉型升級的落地,推進新基地的工程建設,為早日實現宏偉目標夯實基礎。經營業績於二零一八年,全體員工萬眾一心,在充滿活力且富有經驗的管理層的帶領下繼續積極踐行 共同創造的核心價值觀的企業文化。本集團以研發投入為動力,加強研發組織建設,加大核心技術投入,鞏固核心製造資源,進一步優化了產品結構和客戶基礎,確保了各產品在市場中的綜合競爭實力並鞏固了其領先的市場地位。本集團截
37、至二零一八年十二月三十一日止年度的收 入 增 加 約15.9%至 約 人 民 幣25,931,900,000元。本公司股東應佔年內溢利則減少約14.2%至約人民幣2,490,900,000元。此外,每股基本盈利減少約14.6%至約人民幣227.92分。董事會建議派發全年股息每股約人民幣0.568元(相等於0.662港元)(二零一七年:約人民幣0.661元)。Chairmans Statement主席報告舜宇光學科技(集團)有限公司 2018 年報 09 AWARDS AND RECOGNITIONSIn 2018,the Group continued to deepen“Two Transf
38、ormations”,enhanced the added value of software and algorithm in products and services,deepened its existing advantageous businesses,increased the investment in new businesses,enhanced the management level,strengthened the supply chain management and constantly improved the operation quality.With th
39、e concerted effort of the staff,the Group received numerous honours and awards from its customers,industrial associations and institutions,local governments and the capital market.All these awards indicated that the quality of the products,technical capabilities,services,delivery time and other aspe
40、cts of the Group have been highly affirmed and recognised by the customers and the industry.It will encourage the Group to provide its customers with better products and services continuously,and confirm the Groups determination to carry on the strategy of“Transformation and Upgrade”.Please refer to
41、 the section headed“Management Discussion and Analysis Awards and Recognitions”for details of the awards and recognitions received by the Group in 2018.OUTlOOKEntering into 2019,the global economy will face a slowdown risk after experiencing a strong recovery in the last two years.Chinas economy is
42、still in a critical stage of adjustment and this process will be prolonged.Under the macro environment of weak growth and before the implementation of 5G technologies,the market of smartphones may continue to“hibernate”.However,as the market of handset replacement matures,the trend of brand consolid
43、ation will become more intense.Camera,which is one of the smartphone hardware mostly recognized by customers experience,becomes the focus of continuous upgrade for all smartphone manufacturers.In the long run,given the continuous strengthening of overseas markets as well as the successive commercial
44、ization of new applications such as 5G and artificial intelligence,the smartphone market and the optoelectronic-related sectors will usher new development opportunities.Therefore,leveraging on the broad development prospects of the optoelectronic industry where it bases and the advantages as an opti
45、cal expert,the Group will capture the historical opportunity of the restructuring of international industry and integrate into the core supply chain of international modern optoelectronic industry,create unique strengths in the international industrial specialization,become strategic partners of ren
46、owned domestic and international enterprises,spare no efforts to create advantages in technology and value,become a leader in segment markets and create a world renowned enterprise and product brand.獎項及嘉許於二零一八年,本集團繼續深化 兩個轉變,提升軟件算法在產品與服務中的附加值,做精現有優勢業務,加大新事業投入,提升管理水準,加強供應鏈管理並持續改善經營品質。經過全體員工的共同努力,本集團獲得
47、了來自客戶、行業協會和機構、地方政府及資本市場的多項榮譽和獎項。所有這些獎項的獲得均表明客戶及業內對本集團產品的質量、技術能力、服務、交期等方面的高度肯定與認可。這也將激勵本集團繼續為客戶提供更優質的產品和服務,也更加堅定了本集團繼續走 轉型升級之路的決心。有關本集團於二零一八年獲得的獎項及嘉許之詳情請參閱管理層討論與分析獎項與嘉許 一節。展望進入二零一九年,全球經濟在經歷了過去兩年的強勁復蘇後將面臨減速風險。中國經濟依然處在調整的關鍵時期,且此過程還將長時延續。在宏觀環境增長疲軟的大環境下及在5G技術真正落地之前,智能手機市場可能繼續保持 冬眠的狀態。但隨著換機市場的不斷成熟,品牌集中化的趨
48、勢愈演愈烈。作為最能讓消費者體驗智能手機差異化硬件之一的攝像頭成為了各大智能手機廠商不斷升級的重點對象。長遠來看,隨著海外市場的不斷發力,以及5G和人工智能等新興應用的相繼商用化,智能手機市場以及光電相關領域將迎來新的發展機遇。因此,憑借所立足的光電產業廣闊的發展前景以及作為光學專家的優勢,本集團將抓住國際產業結構調整的歷史性機遇,融入國際現代光電產業核心供應鏈,在國際產業分工中形成自己的獨特優勢,成為國內外知名企業的戰略合作夥伴,努力創造技術優勢和價值優勢,成為細分市場的領導者,創造馳譽全球的企業與產品品牌。Chairmans Statement主席報告10 Sunny Optical Te
49、chnology(Group)Company Limited ANNUAL REPORT 2018Looking forward,the Group will continue to adhere to its customer-oriented strategy led by technologies,three main goals of“High Technology,High Value and High Efficiency”and transformation and upgrade of production mode,profit mode and operation mode
50、,which will help to create a sophisticated optoelectronic production base with advantages in brands,systems and value.In addition,the Group will continue to boost the construction of the new production base in order to provide strong protection for high-speed growth in production capacity,assist the
51、 mid-to long-term rapid development,promote the innovation in internal mechanism and make multiple deployments in emerging businesses within the optical main channel actively.The Group believes that there are more opportunities than challenges in the future.All of the staff will continue to carry fo
52、rward pioneering spirit of hard work,progressive and innovative spirit and team spirit of working together with a vision of becoming a“Hundred-Year-Old Brand”.APPRECIATIONThe Group would like to express its appreciation to all of its staff for their long-term efforts and to the management for their
53、outstanding contribution.It is the unremitting efforts of each member that enable the Group to make great achievements.Also,the Group wishes to express its sincere gratitude towards its shareholders,customers and business partners for their long-standing support and recognition.The Group will contin
54、ue to deliver the sustainable development of the business,so as to meet its business objectives for the year of 2019 and realise higher values for its shareholders and other stakeholders.Ye liaoningChairman and Executive DirectorHong Kong19 March 2019展望未來,本集團將繼續堅持以客戶為中心,以技術為導向,堅持高科技、高價值、高效益三大目標,堅持生產
55、方式、贏利模式和經營方式的轉型升級,打造具有品牌優勢、系統優勢和價值優勢的先進光電製造業基地。另外,本集團將持續推進新基地工程建設,為產能的高速增長提供強大保障,助力本集團中長期的快速發展,推動內部機制創新,積極佈局光學主航道的新興業務。本集團相信未來機遇大於挑戰,全體員工將繼續發揚艱苦奮鬥的創業精神,與時俱進的創新精神,和衷共濟的團隊精神,最終實現 百年老字號 的企業願景。致謝本集團在此對全體員工的長期努力及管理層的傑出貢獻致以衷心謝意,正是每位成員的不懈努力才促使本集團取得了良好的成績。同時,本集團誠摯感謝各位股東、客戶及業務夥伴長期以來的支持與肯定。本集團將繼續致力於業務的可持續發展,為
56、實現二零一九年全年經營目標及為股東及其他持份者創造更多價值而努力!葉遼寧主席及執行董事香港二零一九年三月十九日Chairmans Statement主席報告舜宇光學科技(集團)有限公司 2018 年報 11 MARKET REvIEWLooking back to 2018,global economic growth has slowed down with the escalation of Sino-US trade frictions,leading to pessimistic domestic and foreign demand condition.Facing these in
57、ternal and external conditions,the economic growth in China slowed down continuously with downward pressure.The domestic smartphone market gradually revealed a multi-polar development trend while the demand was further weakened with the industry experiencing tremendous changes.The Chinese handset br
58、ands developed rapidly.Moreover,affected by the unstable macro environment,the global vehicle sales volume in 2018 was slightly decreased than that of last year.However,due to the implementation of global regulations and the introduction of new requirements,as well as the market demand for enhancing
59、 driving safety and intellectualization,the adoption rate and specification requirements of vehicle lens sets have been increasing.According to the report issued by International Data Corporation(“IDC”),the global shipment volume of smartphones in 2018 decreased by approximately 4.1%from that in 201
60、7 to approximately 1,400.0 million units.Among which,the shipment volume of Chinese smartphone brands reached approximately 360.0 million units in total,contributing to approximately 25.7%of the market share.The weak consumer market and the lack of innovation in mobile phone functions have led to a
61、weakening of consumers demand for replacement,further slowing down the Chinese smartphone market.Under this circumstance,industrial consolidation and market concentration is increasingly prevalent.The top four mobile phone manufacturers in China occupied the major market share firmly by virtue of th
62、eir technology accumulation,capital advantage and channel advantage,leaving niche brands with smaller room for survival.At the same time,the competition among handset brands was intense and the upgrade of camera specifications was still the key to gain market share.High-end and complex specification
63、s such as large-aperture,wide-angle,microminiaturization,multi-camera and 3D application have been applied to the smartphone brands in China.The Group took the market-driven technological innovation and the R&D investment as the driving force,and formulated plan in advance to seize the first opportu
64、nity in the market.Furthermore,the Group will undergo in-depth cooperation with many companies with core key technologies to further consolidate its leading advantages in the optical related industries.市場回顧回顧二零一八年,全球經濟增長趨緩,中美貿易摩擦持續升級,內、外需形勢不容樂觀。中國經濟在面對 內憂外困的情況下,增速持續放緩,面臨下行壓力。國內智能手機市場需求也進一步疲軟,而同時行業產生
65、巨變,逐步呈現出多極化的發展態勢,國產手機品牌發展迅速。此外,受宏觀環境不穩定的影響,二零一八年全球汽車銷量較去年相比略微下降,但是,受益於全球法規的實行和新規定的出台以及市場對於提高駕駛安全性及智能化的訴求,車載鏡頭的搭載率及規格要求都不斷提升。據國際數據公司(IDC)發佈的報告顯示,二零一八年全球智能手機的出貨量達到約14.0億部,較二零一七年下降約4.1%。中國智能手機品牌出貨量達到約3.6億部,貢獻了約25.7%的市場份額。消費者市場疲弱,手機功能創新匱乏導致消費者換機需求減弱,中國智能手機市場進一步低迷。在此情況下,行業整合、集中化趨勢日趨明顯,中國前四大手機品牌廠商憑藉技術優勢、資
66、本優勢和渠道優勢,牢牢佔據了較大的市場份額,而小眾品牌的生存空間越發狹小。與此同時,手機品牌之間競爭激烈,攝像頭規格升級仍是搶奪市場的不二法寶。大光圈、廣角、超小型化、多攝及3D應用等高端複雜的規格紛紛應用於中國智能手機品牌中。本集團憑藉市場驅動的技術創新,以研發投入為動力,提前佈局,搶佔行業先機並與多家擁有核心關鍵技術的公司進行深度合作,進一步鞏固了自身在光學相關行業中的領先優勢。Management Discussion and Analysis管理層討論與分析12 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 2
67、018Driven by the development of intellectualized driving and the regulations from the United States,the European Union,Japan and China,the demand for vehicle lens sets continues to show a steadily soaring trend.Since 2016,the United States,the European Union,Japan and other countries and regions lis
68、ted forward collision warning(“FCW”)system,lane departure warning(“lDW”)system,automatic emergency braking(“AEB”)system and blind spot detection(“BSD”)system into the mandatory loading in regulations or New Car Assessment Programme(“NCAP”).Among them,China NCAP initially included the evaluation indi
69、cators of active safety requirements in its Management Regulation in 2018 version.Other countries in Asia,such as Japan and India,have been formulating certain regulations to require the use of some special ADAS technologies.The development of artificial intelligence,communication and sensing techno
70、logies has made progress to the realization of automatic driving.Both high-tech giants and traditional car manufacturers have allocated a lot of R&D resources to promote the development of automatic driving.Before such realization,the increase in consumers demand for active safety will take the lead
71、 to drive the market demand for ADAS and a large number of sensors.Meanwhile,camera is the basis for implementing many early warning and recognition functions in ADAS.Over 80%of the ADAS technology functions have applied to the cameras,or even some technologies have taken the camera as major solutio
72、n.In addition,the development of the self-driving car market is gradually deepening and the demand for the application of LIDAR and infrared related products will continue to emerge.Taking advantage of the leading technological innovation abilities and the first-mover advantages in establishing mark
73、et presence as well as the excellent resource integration abilities,the Group will be comprehensively benefited from the continuous and rapid growth in the vehicle lens sets industry.隨著汽車駕駛的智能化發展,以及在美國、歐盟、日本及中國法規的帶動下,車載鏡頭需求仍然保持穩定且快速增長的態勢。自二零一六年起,美國、歐盟、日本等國家和地區陸續將前方碰撞預警系統(FCW)、車道維持系統(lDW)、自動緊急制動系統(AE
74、B)與盲點偵測系統(BSD)等列為法規強制裝載,或列入新車評價規程(NCAP)。其中,中國NCAP在二零一八年版本的 管理規程中首次列入多項主動安全需求的評價指標。而在亞洲其他地方,如日本、印度等國都在計劃制定一些法規,强制使用某些特殊的ADAS技術。人工智能、通訊與感測技術發展使自動駕駛的實現又更進一步,無論高科技巨頭還是傳統車廠都投入大量研發資源推動自動駕駛發展。在實現自動駕駛之前,消費者對於主動安全需求的提升將率先帶動ADAS與大量傳感器的市場需求。同時,在ADAS系統中,攝像頭是實現眾多預警、識別類功能的基礎,超過80%的ADAS技術都會運用到攝像頭,甚至部分技術將攝像頭作為主要的解決
75、方案。此外,無人駕駛汽車市場的發展正在逐步深入,激光雷達、紅外相關產品的應用需求不斷釋放。憑藉自身領先的技術創新優勢、提前佈局的先發優勢,以及優秀的資源整合能力,本集團將全面受益於車載鏡頭行業的持續高速增長。Management Discussion and Analysis管理層討論與分析舜宇光學科技(集團)有限公司 2018 年報 13 For the optical instruments market,driven by the optical imaging technology and the processing and application of big data,as we
76、ll as the growing demand for downstream applications,the optical instrument industry as a whole is developing positively in 2018.Meanwhile,more and more companies are considering the possibilities of using machinery vision to realize automatic identification and automatic detection of production lin
77、es to improve efficiency and reduce costs.Therefore,the Group will seize the advantages of industrial automation together with the optimization in internal resource allocation,increase investment in R&D and set up of layout in key markets to better response to the opportunities and challenges from v
78、arious segment markets.In addition,the Group has also made continuous efforts to expand other businesses,such as innovative applications in various kinds of mobile terminals such as unmanned aerial vehicle(“UAv”),security monitoring,augmented reality(“AR”),virtual reality(“vR”)and 3D.In addition to
79、enhancing its R&D capability and actively expanding the markets,the Group strengthened its in-depth cooperation with global top-tier hi-tech companies and laid a solid foundation for the Groups mid-to long-term development in the future.During the year under review,in spite of the various pressures
80、of the external environment,the Group adhered to be driven by R&D investment and increased the development and upgrade in core technologies,as well as consolidated core manufacturing resources.The Group also actively practiced its corporate culture with a core value of“Create Together”,strengthened
81、the training and recruitment of talents and accurately seized the market trend in the optoelectronic industry,focusing on innovation,optimizing in product portfolios and making full use of its advantages,which continued to enhance the comprehensive competitiveness of the Group.光學儀器市場方面,在光學影像技術、大數據處理
82、及應用的發展帶動下,並伴隨下游應用領域需求的日益增長,二零一八年光學儀器行業整體向好發展。同時,越來越多的企業考慮如何採用機器視覺來實現生產線的自動識別、檢測等功能,以提高效率並降低成本。因此,本集團將緊緊抓住工業自動化這一契機,進一步優化內部資源配置,加大研發投入,佈局重點市場,更好地應對了各細分市場的機遇與挑戰。此外,本集團亦在積極拓展其它業務,包括無人機(UAv)、安防監控、增強現實(AR)、虛擬現實(vR)及3D等其他各種移動終端的創新型應用。本集團除了提高自身的研發實力,積極開拓市場外,還強化與全球頂尖高科技公司的深度合作,為本集團未來的中長期發展奠定了堅實的基礎。於回顧年內,儘管面
83、臨外部環境的多重壓力,本集團仍堅持以研發投入為動力,加大核心技術的開發與升級,鞏固核心製造資源,積極踐行以共同創造 為核心價值觀的企業文化,加強人才培養及引進,且立足光電產業,精準把握市場趨勢,注重創新,優化產品組合,發揮各項優勢,使得本集團的綜合競爭實力得以繼續提升。Management Discussion and Analysis管理層討論與分析14 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 2018業務回顧本集團一方面持續深耕優勢業務,深化推進 加速轉型升級的發展策略,通過強化製造能力、推進精細化管理、突破
84、關鍵技術及加強成本管控,進一步提升了市場綜合競爭力和客戶滿意度。同時,本集團時刻樹立品質意識,加強品質管理,完善品質管控體系。另一方面,本集團進一步加強企業文化建設和人才培養,優化任職資格體系,完善培訓體系,健全人才管理方案,為本集團中長期的發展提供人才保障。於回顧年內,本集團的光學零件、光電產品及光學儀器三大事業皆取得了良好的成績。手機鏡頭全年出貨量獲得大幅增長,且在高端產品方面取得了業務和技術上的突破,市場佔有率和競爭力得以進一步提升;車載鏡頭業務繼續保持了好於行業的增長勢頭,且市場份額繼續穩步提升;在國內外市場競爭愈演愈烈,人民幣貶值等不利因素的影響下,手機攝像模組業務迎難而上,克服種種
85、困難,銷售收入取得了一定的增長。二零一八年,本集團實現銷售收入約人民幣25,931,900,000元,較去年上升約15.9%。BUSINESS REvIEWOn one hand,the Group continuously invested in its advantageous business and further implemented its development strategy of“Speeding Up Transformation and Upgrade”.Through strengthening manufacturing capabilities,promotin
86、g delicacy management,breakthrough in the key technologies,and strengthening cost control,the Group further improved its comprehensive market competitiveness and customer satisfaction.Meanwhile,the Group built up quality awareness all the time to enhance quality management and optimize the quality c
87、ontrol systems.On the other hand,the Group further strengthened the corporate culture construction and talent cultivation,optimized the qualification system,improved the training system,perfected the talent management plan,and secured talents for the development of the Group in mid-and long-term.Dur
88、ing the year under review,the three business segments of the Group,namely Optical Components,Optoelectronic Products and Optical Instruments,recorded satisfactory performance.The shipment volume for the whole year of the handset lens sets has significantly increased,and made breakthroughs in high-en
89、d products in terms of business and technology,which contributed to the further increases in market share and competitiveness.While the vehicle lens sets business continued to maintain a growth momentum better than its peers in the industry with its market share continued to increase steadily.Under
90、the influence of unfavourable factors such as the intensified competition in domestic and foreign markets and the depreciation of Renminbi,the handset camera modules business tackled the challenges,with sales revenue achieved a considerable increase.In 2018,the Group realised sales revenue of approx
91、imately RMB25,931.9 million,representing an increase of approximately 15.9%compared to that of last year.Management Discussion and Analysis管理層討論與分析舜宇光學科技(集團)有限公司 2018 年報 15 於回顧年內,本集團着眼未來,積極進行專利佈局,以更加有效的防範知識產權方面存在的經營風險。截至二零一八年十二月三十一日止,本集團擁有958項已獲授權專利,其中發明專利251項,實用新型專利661項,外觀設計專利46項。此外,另有1,853項待批核的專利。
92、光學零件受惠於中高端智能手機市場及車載攝像頭領域的持續發展,以及本集團積極應對市場變化,及時調整策略,再加上光學零件事業各項關鍵技術的突破及研發能力的加強,該事業取得了較為滿意的成績。於回顧年內,光學零件事業的收入約人民幣6,022,800,000元,較去年增長約40.0%。此業務部門佔本集團總收入約23.2%,而在去年則約佔19.2%。During the year under review,the Group focused on the future and actively made patent applications to avoid operational risk in te
93、rms of intellectual property rights more effectively.As of 31 December 2018,the Group had 958 granted patents,including 251 invention patents,661 utility model patents and 46 exterior design patents.In addition,approvals for another 1,853 patent applications are pending.OPTICAl COMPONENTSBenefiting
94、from the continuous development of the mid-to high-end smartphone market and the vehicle camera field,the Groups active response to market changes with its timely adjustment of strategies,and the breakthroughs of various key technologies and the enhancement of R&D ability,the Optical Components busi
95、ness segment has achieved satisfactory results.During the year under review,the revenue from the Optical Components business segment amounted to approximately RMB6,022.8 million,representing an increase of approximately 40.0%compared to that of last year.This business segment accounted for approxima
96、tely 23.2%of the Groups total revenue,compared to approximately 19.2%for last year.Management Discussion and Analysis管理層討論與分析16 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 2018於回顧年內,本集團的手機鏡頭出貨量較去年增長約56.4%。此外,本集團亦非常關注對於產品的研發投入及產品規格的提升,尤其是在大光圈、小型化、超廣角等新規格方面的投入。於回顧年內,本集團成功完成了多款產品的研發,主要
97、包括超大光圈(FNo.1.4)7片塑膠非球面鏡片(7P)手機鏡頭。同時,4,800萬像素手機鏡頭,3,200萬像素超小頭部手機鏡頭和可變光圈(7P)手機鏡頭已實現量產。於3D領域方面,用於3D的准直鏡頭已成功實現量產。此外,憑藉在光學領域的深厚積累及技術領先優勢,本集團積極推進半導體光學和微納米光學產品的設計與開發,同時也已開發出多款應用於新興領域的產品,如應用於VR/AR、生物識別、運動追蹤等領域的鏡片和鏡頭,且其中部分產品已實現量產且銷售進一步取得突破,產生了可觀的經濟效益。於回顧年內,本集團車載鏡頭的出貨量較去年增長約25.3%,亦繼續保持了全球第一的行業領先地位。During the
98、year under review,the shipment volume of handset lens sets of the Group increased by approximately 56.4%compared to that of last year.In addition,the Group also focused on R&D investment in products and the improvement of product specifications,especially investment in large-aperture,miniaturization
99、,ultra-wide angle and other new specifications.During the year under review,the Group successfully completed the development of a number of products,including ultra-large aperture(FNo.1.4)handset lens set with 7 pieces plastic aspherical lenses(“7P”).Meanwhile,48-mega pixel handset lens sets,32-mega
100、 pixel miniaturized head handset lens sets and variable aperture(7P)handset lens sets have achieved mass production.In respect of 3D field,the 3D collimating lens sets have successfully achieved mass production.Further,with its extensive experience and leading technological advantages in the optical
101、 field,the Group has actively promoted the design and development of semiconductor optics and micro/nano optical products,as well as developed a wide range of products applied in emerging fields such as lenses and lens sets used in VR/AR,biological recognition,motion tracking and so on.Some of such
102、products have commenced mass production and achieved further breakthroughs in sales,resulting in considerable economic benefits.During the year under review,the shipment volume of vehicle lens sets of the Group increased by approximately 25.3%compared to that of last year,maintaining its ranking as
103、the first in the industry globally.Management Discussion and Analysis管理層討論與分析舜宇光學科技(集團)有限公司 2018 年報 17 於回顧年內,本集團在車載鏡頭領域實現了一系列的技術突破。本集團完成了800萬像素車載鏡頭的研發,並獲得了多家國際一級供應商客戶的量產訂單。同時,本集團在未來新產品領域也取得了可喜的成績,不僅拓寬了車載光學產品的應用範圍,而且還為公司未來形成新的戰略增長點奠定基礎。於回顧年內,本集團成功實現了汽車抬頭顯示(hUD)核心光學器件的技術突破,成為了為數不多的能夠集設計、生產、製造於一體的HUD光學
104、方案解決商;同時,本集團抓住自動駕駛領域車載光學系統的市場契機快速推進車載激光雷達產品的技術研發與市場開拓,全面佈局車載激光雷達關鍵元器件的設計開發和車載像素式智能大燈領域,目前已和多家一級供應商客戶展開實質性的業務合作。本集團深知自主知識產權在構築競爭壁壘及加強自身綜合競爭力方面的重要性。於回顧年內,本集團申請了光學領域的諸多專利,其中包括多項國際專利。於回顧年內,本集團在光學零件事業領域中已獲授權專利共432項,其中158項為發明專利及271項為實用新型專利,餘下3項為外觀設計專利。此外,另有813項專利正在申請當中。During the year under review,the Gro
105、up achieved a series of technological breakthroughs in the field of vehicle lens sets.The Group has completed the R&D of 8-mega pixel vehicle lens sets and has received orders from a number of international tier-one clients.At the same time,the Group has achieved gratifying results in the field of n
106、ew future products.Not only did it extend the applications of automotive optical products,the Group also laid foundation for the Company to form new strategic growth points in the future.During the year under review,the Group has successfully achieved the technological breakthrough in the core optic
107、al device of vehicles head-up display(“hUD”)and became one of the few HUD optical system solution providers capable of integrating design and manufacturing.Meanwhile,the Group seized the market opportunity of the automotive optical system in the field of autonomous driving and quickly promoted the t
108、echnical R&D and market development of automotive LIDAR products,as well as comprehensively laid out the design and development of key components of automotive LIDAR and entered the automotive smart pixel headlight sector.Currently,the Group has conducted substantive business cooperation with severa
109、l tier-one clients.The Group knew well about the importance of the proprietary intellectual property rights to the building of barriers to competition and for the increase in its comprehensive competitiveness.During the year under review,the Group has applied for many patents in the optical field,in
110、cluding various international patents.During the year under review,a total of 432 granted patents have been obtained by the Group in the Optical Components business segment,among which 158 were invention patents,271 were utility model patents and the remaining 3 were exterior design patents.In addit
111、ion,813 patents are in the process of application.Management Discussion and Analysis管理層討論與分析18 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 2018光電產品在全球手機市場增速趨緩、市場競爭加劇、中美貿易摩擦升級及人民幣貶值等多重壓力下,光電產品事業部能夠較好地抓住中高端智能手機市場技術升級的浪潮,並通過市場拓展、技術革新及強化供應鏈的管理,使得該事業的銷售取得了一定的增長。於回顧年內,光電產品事業的收入約人民幣19,609,
112、200,000元,較去年增長約10.3%。此業務部門佔本集團的總銷售收入約75.6%,而在去年則佔約79.5%。於回顧年內,本集團手機攝像模組的出貨量較去年增長約30.3%。同時,雙攝滲透率不斷提高,但隨著演算法能力的提升,雙攝去支架化趨勢更加顯著,以單體供應的方式增加。但另一方面,消費者對於光學變焦倍數要求的逐步提高,三攝像頭及其他新的解決方案開始吸引人們的眼球。本集團已成功量產潛望式高倍率的超小光學變焦模組,且與主流客戶建立了良好及長遠的合作關係。此外,隨著應用的發展,3D深度相機產品的需求不斷提升,TOF模組和結構光模組在手機端的出貨數量增長較快,本集團同步開發出多樣化的3D深度相機產品
113、方案以應對新的市場需求。與此同時,本集團已成功開發出各種環視、前視及艙內車載攝像模組,其中部分產品已開始量產或即將量產。在技術創新方面,本集團在新型封裝技術上持續創新,研發出最新一代的封裝技術,使得模組高度可以得到進一步下降,符合更大的手機屏佔比需求。同時,本集團不斷優化生產工藝並加大對於產線自動化的投入,憑藉深厚的光學積累及各種創新型生產工藝和封裝技術,本集團已成功為某一韓國知名客戶量產中高端產品,客戶基礎進一步國際化。OPTOElECTRONIC PRODUCTSUnder the multiple pressures of slowing growth rate in the globa
114、l mobile phone market,intensified market competition,Sino-US trade friction escalation and RMB depreciation,the Optoelectronic Products business segment still could satisfactorily capture the wave of technology upgrades in the mid-to high-end smartphone market.Through the market expansion,technologi
115、cal innovation and the strengthening of the supply chain management,the sales of this business segment have achieved a considerable growth.During the year under review,the revenue from the Optoelectronic Products business segment amounted to approximately RMB19,609.2 million,representing an increase
116、 of approximately 10.3%compared to that of last year.This business segment accounted for approximately 75.6%of the Groups total revenue,compared with approximately 79.5%for last year.During the year under review,the shipment volume of handset camera modules of the Group increased by approximately 30
117、.3%compared to that of last year.Meanwhile,the dual-camera penetration rate continued to increase,but as the performance of the algorithm increased,the tendency to take away the stent for dual-camera became more obvious,and the form of monomer supply increased.However,with the gradual increased in c
118、onsumer demand for higher time optical zoom,triple-camera and other new solutions are beginning to attract peoples eyes.The Group has successfully mass produced the periscope type ultra-small optical zoom module with the establishment of a good and long-term relationship with mainstream customers.In
119、 addition,with the development of applications,the demand for 3D depth camera products continued to increase.It led to the relatively rapid increase in the shipment volume of the TOF modules and structured light modules on the mobile terminal.The Group simultaneously developed diverse 3D depth camer
120、a products so as to respond to the new market demands.At the same time,the Group has successfully developed various kinds of surround view,front view and in-car automotive camera modules,some of which are or will be put into mass production.In terms of technological innovation,the Group continued to
121、 innovate in new packaging technologies and has developed the latest generation of packaging technology to further reduce the module height,which will be in line with demand for higher screen-to-body ratio.Meanwhile,the Group continuously optimised the production process and increased investment in
122、production line automation.With extensive experience in the optical industry and various innovative production techniques and packaging technology,the Group has successfully carried out mass production of mid-and high-end products for a famous customer in Korea,further enhancing the internationaliza
123、tion of customer base.Management Discussion and Analysis管理層討論與分析舜宇光學科技(集團)有限公司 2018 年報 19 於回顧年內,本集團在深度視覺模組產品的業務方面取得了長足發展。基於3D數據的人臉、物體等對象識別的系統方案產品進入了批量化商用階段且在物流、智能零售等新興領域得以應用。此外,本集團成功開發了線性TOF產品,並已內置於知名客戶的掃地機器人中;同時,本集團也成功開發了廣角高像素面陣TOF產品,在AR/VR、機器人、無人機等大範圍探測與交互應用方面實現全覆蓋。除以上所述外,本集團對基於TOF、雙攝、結構光等3D類產品的自主
124、標定生產軟件完成升級與批量應用,奠定了本集團在相關產品的規模化高效率生產的優勢。於回顧年內,本集團在光電產品事業領域中已獲授權專利共440項,其中82項為發明專利,337項為實用新型專利,餘下21項為外觀設計專利。此外,另有936項專利正在申請當中。光學儀器於回顧年內,市場對於光學儀器的需求有所回暖,光學儀器事業的收入約人民幣299,900,000元,較去年增長約2.2%。此業務部門佔本集團的總銷售收入約1.2%,而在去年則約佔1.3%。During the year under review,the Groups business in deep vision module products
125、 has made rapid progress.The system solution products for target recognition such as face and object which based on 3D data have entered the mass commercial stage and have been applied to the new sectors of logistics,smart retail,etc.In addition,the Group has successfully developed linear TOF produc
126、ts and such products have been embedded sweeping robots for famous customers.At the same time,the Group has also successfully developed wide-angle high-profile area array TOF products for full coverage for large-scale probing and interactive applications in AR/VR,robots,drones and so on.Saved as men
127、tioned above,the Group has completed the upgrade and mass application of the self-developed software of 3D products such as TOF,dual-camera and structured light products,which has established the Groups advantages in the large-scale efficient production of the relevant products.During the year under
128、 review,a total of 440 granted patents have been obtained by the Group in the Optoelectronic Products business segment,among which 82 were invention patents,337 were utility model patents and the remaining 21 were exterior design patents.In addition,936 patents are in the process of application.OPTI
129、CAl INSTRUMENTSDuring the year under review,the demand for optical instruments has recovered,the revenue from the Optical Instruments business segment amounted to approximately RMB299.9 million,an increase of approximately 2.2%compared to that of last year.The business segment accounted for approxim
130、ately 1.2%of the Groups total sales revenue,compared to approximately 1.3%for last year.Management Discussion and Analysis管理層討論與分析20 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 2018於回顧年內,本集團在向儀器系統方案集成商的角色轉變上持續作出努力,顯微儀器和智能裝備兩大板塊均取得了不錯的進展。在顯微儀器板塊,本集團著力於產品的研發與市場的推廣,進一步強化市場營銷能力,產品結構得以改善
131、。全自動研究及倒置顯微鏡已實現小批量生產。在智能裝備板塊,本集團緊緊圍繞工業領域和醫療領域進行設備佈局,並積極推動深度學習在量產設備中的應用。在工業領域方面,自主開發的紅外截止濾光片(IRCF)元件檢測設備和異嚮導電膠膜(ACF)導電粒子檢測設備均已實現量產;在醫療領域方面,結核分枝桿菌顯微掃描系統已實現量產銷售。與此同時,本集團也將繼續加強對工業、教育、醫療領域高端光學儀器的研發及市場的投入,以推動本集團中長期的穩固發展。於回顧年內,本集團在光學儀器事業領域中已獲授權專利共86項,其中11項為發明專利,53項為實用新型專利,餘下22項為外觀設計專利。此外,另有104項專利正在申請當中。生產本
132、集團的產品主要由分別位於中國浙江省餘姚市、廣東省中山市、上海市及河南省信陽市的四個生產基地生產。同時,於二零一九年一月十日,本集團在印度設立了一家新的附屬公司,以滿足客戶在印度市場的需求。此外,本集團亦在美國加利福尼亞州矽谷設立了附屬公司,負責北美地區的技術支持、市場推廣及客戶開拓。During the year under review,the Group continued its efforts in transforming the role of instrument system solution integrators,and both the microscopic instr
133、ument and intelligent equipment sectors made good progress.In the microscopic instrument sector,the Group focused on product development and marketing,further strengthened its marketing capabilities and improved its product structure.Fully automated research and inverted microscopes have achieved pr
134、oduction in small batches.In the intelligent equipment sector,the Group was closely concentrating on the layout of equipment in the industrial and medical fields,and actively promoted the application of deep learning in mass production equipment.In the industrial field,infrared cut-off filter(“IRCF”
135、)defect inspection equipment and scanning detection equipment for anisotropic conductive film(“ACF”),which were all self-developed,have achieved mass production.In the medical field,the Mycobacterium tuberculosis microscopy scanning system has achieved mass production and sales.In addition,the Group
136、 will also continue to enhance the research&development and market investments of high-end optical instruments in the industrial,education and medical fields to promote the mid-to long-term stable development of the Group.During the year under review,a total of 86 granted patents have been obtained
137、by the Group in the Optical Instruments business segment,among which,11 were invention patents,53 were utility model patents and the remaining 22 were exterior design patents.In addition,104 patents are in the process of application.PRODUCTIONThe Groups products are mainly manufactured in four produ
138、ction bases in Yuyao of Zhejiang Province,Zhongshan of Guangdong Province,Shanghai and Xinyang of Henan Province in the PRC,respectively.Meanwhile,on 10 January 2019,the Group has established a new subsidiary in Indian to meet the customers demand in the Indian market.In addition,the Group has also
139、established a subsidiary in Silicon Valley,California,the United States,which is responsible for technical support,marketing and customer base expansion in North America.Management Discussion and Analysis管理層討論與分析舜宇光學科技(集團)有限公司 2018 年報 21 AWARDS AND RECOGNITIONS獎項與嘉許CORPORATE hONOURS RECEIvED IN 2018
140、於二零一八年取得的企業榮譽 Zhejiang Sunny Optics Co.,Ltd.was awarded the“Excellent Supplier Award”from Huaqin Communication Technology Co.,Ltd.浙江舜宇光學有限公司榮獲華勤通訊技術有限公司的 優秀供應商獎 Zhejiang Sunny Optics Co.,Ltd.was awarded the“Sixth Anniversary Commemoration of Cooperation”by Vivo Communication Technology Co.Ltd.浙江舜宇光學
141、有限公司榮獲維沃通信科技有限公司的 六周年合作紀念 Zhejiang Sunny Optics Co.,Ltd.was awarded the“Innovation Award”by Vivo Communication Technology Co.Ltd.浙江舜宇光學有限公司榮獲維沃通信科技有限公司的 創新獎 Zhejiang Sunny Optics Co.,Ltd.was awarded the“Quality Award”by Vivo Communication Technology Co.Ltd.浙江舜宇光學有限公司榮獲維沃通信科技有限公司的 品質獎 Xinyang Sunny O
142、ptics Co.,Ltd.was awarded the“Excellent Supplier Award”in 2017 by Panasonic Avc Networks Xiamen Co.,Ltd.信陽舜宇光學有限公司榮獲廈門松下 二零一七年度優秀供應商 Sunny Optics(Zhongshan)Co.,Ltd.was awarded the“Strategic Partner Award”by Hangzhou Hikvision Digital Technology Co.,Ltd.舜宇光學(中山)有限公司榮獲杭州海康威視數字技術有限公司 戰略合作夥伴 獎 Zhejiang
143、Sunny Optical Intelligence Technology Co.,Ltd.was awarded the“Top Partner Award”in 2017 by Company T浙江舜宇智能光學技術有限公司榮獲T公司二零一七年度 最佳合作夥伴獎 Zhejiang Sunny Optical Intelligence Technology Co.,Ltd.was awarded the“Best Collaboration Award”by Panasonic(Vietnam)System Technology Co.,Ltd.,a subsidiary of Panaso
144、nic in Japan浙江舜宇智能光學技術有限公司榮獲日本松下集團傘下公司松下(越南)系統科技有限公司 最佳合作獎Management Discussion and Analysis管理層討論與分析22 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 2018 Ningbo Sunny Opotech Co.,Ltd.was awarded the“Excellent Quality Award”by Huawei Technology Co.,Ltd.寧波舜宇光電信息有限公司榮獲華為技術有限公司 質量優秀獎 Ning
145、bo Sunny Opotech Co.,Ltd.was awarded the“Excellent Supplier Award”by LG Electronics寧波舜宇光電信息有限公司榮獲LG電子 優秀供應商獎 Ningbo Sunny Opotech Co.,Ltd.was awarded the“Global Gold Supplier Award”by Huawei Technology Co.,Ltd.寧波舜宇光電信息有限公司榮獲華為技術有限公司 全球金牌供應商 大獎 Ningbo Sunny Opotech Co.,Ltd.was awarded the“Best Strate
146、gy Partner Award”by Beijing Xiaomi Technology Co.,Ltd.寧波舜宇光電信息有限公司榮獲北京小米科技有限責任公司 最佳策略合作夥伴獎 The Group was included in“Hang Seng China(Hong Kong Listing)25 Index”本集團首次入選為 恒生中國(香港上市)25指數 The Group was listed in the“Top 500 Chinese Manufacturing Enterprises”for three consecutive years,ranking 333rd,whic
147、h has been improved by 79 places compared to last year本集團連續第三年入圍 中國民營企業500強 榜單,位列第333位,較去年上升79位 The Group ranked among the top 200 in the list of“Top 500 Chinese Private Enterprises”,ranked 191st,rising 48 places compared to last year本集團首次躋身 中國民營企業製造業500強 榜單的前200位,位列第191位,較去年上升48位 The Group was rank
148、ed top three among all-Asia technology/hardware companies by the US magazine,Institutional Investor,on its lists of“Best CEO”,“Best CFO”,“Best Investor Relations Program”,“Best IR Professional”and“Best Analyst Day”for the third consecutive year in 2018,and was awarded the title of“Most Respected Com
149、pany”.The Company was also ranked first in the new categories in 2018,namely“Best Corporate Governance”and“Best ESG SRI Metrics”本集團連續第三年榮登美國 機構投資者雜誌二零一八年 最佳行政總裁、最佳財務總監、最佳投資者關係、最佳投資者關係專才及 最佳分析師日的榜單,均位列亞洲科技硬件類前三甲,並榮獲 最受尊敬公司 的稱號;在二零一八年年新增的 最佳企業管治 和 最佳環境、社會及管治系列指標 評選中,公司也榮獲第一 The Group won the two award
150、s of“Most Valuable TMT Stocks Company”and“Best Investor Relations Management Listed Companies”at the 2018“Golden Hong Kong Stocks Awards”本集團榮獲2018 金港股 評選活動中 最具價值TMT股公司 和 最佳投資者關係管理上市公司 兩項大獎Management Discussion and Analysis管理層討論與分析舜宇光學科技(集團)有限公司 2018 年報 23 財務回顧收入截至二零一八年十二月三十一日止年度,本集團的收入約人民幣25,931,900
151、,000元,較去年增長約15.9%或約人民幣3,565,600,000元。收入增長的主要原因是受惠於本集團在智能手機相關業務及車載成像領域有較好的發展。光 學 零 件 事 業 的 收 入 較 去 年 增 加 約 人 民 幣1,721,000,000元至約人民幣6,022,800,000元。收入增長主要是因為手機鏡頭及車載鏡頭業務發展良好。光 電 產 品 事 業 的 收 入 較 去 年 增 加 約 人 民 幣1,838,100,000元 至 約 人 民 幣19,609,200,000元。收入增長主要是由於手機攝像模組出貨量的上升。光 學 儀 器 事 業 的 收 入 較 去 年 增 加 約 人 民
152、 幣6,400,000元至約人民幣299,900,000元。收入增長主要是因為光學儀器的市場需求有所增加。FINANCIAl REvIEWRevenueFor the year ended 31 December 2018,the Groups revenue was approximately RMB25,931.9 million,representing an increase of approximately 15.9%or approximately RMB3,565.6 million compared to that of last year.The increase in re
153、venue was mainly benefited from the Groups better development in the industry of smartphone related businesses and vehicle imaging field.Revenue generated from the Optical Components business segment increased by approximately RMB1,721.0 million to approximately RMB6,022.8 million compared to that o
154、f last year.The increase in revenue was mainly due to the sound development of handset lens sets and vehicle lens sets businesses.Revenue generated from the Optoelectronic Products business segment increased by approximately RMB1,838.1 million to approximately RMB19,609.2 million compared to that of
155、 last year.The increase in revenue was mainly attributable to the increase in the shipment volume of handset camera modules.Revenue generated from the Optical Instruments business segment increased by approximately RMB6.4 million to approximately RMB299.9 million compared to that of last year.The in
156、crease in revenue was mainly attributable to the increase in demand for optical instruments in the market.Management Discussion and Analysis管理層討論與分析24 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 2018毛利及毛利率截至二零一八年十二月三十一日止年度,本集團的毛利約人民幣4,913,100,000元,較去年上升約2.3%。毛利率則約18.9%(二零一七年:約21.5%)
157、,較去年下降約2.6個百分點。毛利率的下降主要是由於手機攝像模組業務的毛利率較去年下降約4.7個百分點,該業務毛利率下降主要是因為:(i)於截至二零一八年十二月三十一日止年度,新廠房的利用率尚在進一步提高中;(ii)人民幣於截至二零一八年十二月三十一日止年度貶值,導致材料成本增加;及(iii)手機攝像模組業務尚處於產線流程優化和自動化水準提高過程中,影響生產效率,導致生產成本增加。其中光學零件事業的毛利率約41.5%(二零一七年:約44.0%),光電產品事業的毛利率約8.4%(二零一七年:約13.1%)及光學儀器事業的毛利率約40.5%(二零一七年:約43.2%)。銷售及分銷費用截至二零一八年
158、十二月三十一日止年度,本集團的銷售及分銷費用較去年增加約人民幣4,800,000元,達 至 約 人 民 幣209,900,000元,於回顧年內佔本集團收入約0.8%,去年佔比約0.9%。有關絕對金額的增加主要是由於營銷活動增加導致相關銷售、市場推廣及分銷人員的成本增加。Gross Profit and MarginThe gross profit of the Group for the year ended 31 December 2018 was approximately RMB4,913.1 million,which was approximately 2.3%higher comp
159、ared to that of last year.The gross profit margin was approximately 18.9%(2017:approximately 21.5%),which was approximately 2.6 percentage points lower compared to that of last year.The decrease in gross profit margin was mainly attributable to the fact that the gross profit margin of handset camera
160、 modules business decreased by approximately 4.7 percentage points compared to that of last year,while the decline in gross profit margin of this business was mainly due to:(i)the utilisation rate of the new factory which remained in the course of improvement in the year ended 31 December 2018;(ii)t
161、he increased material costs due to the depreciation of Renminbi in the year ended 31 December 2018;and(iii)the handset camera modules business which was in the process of the production line optimisation and the automation level improvement,which hindered the production efficiency and led to an incr
162、ease in production costs.The gross profit margins of Optical Components business segment,Optoelectronic Products business segment and Optical Instruments business segment were approximately 41.5%,8.4%and 40.5%,respectively(2017:approximately 44.0%,13.1%and 43.2%respectively).Selling and Distribution
163、 ExpensesThe selling and distribution expenses of the Group for the year ended 31 December 2018 increased by approximately RMB4.8 million compared to that of last year to approximately RMB209.9 million.It accounted for approximately 0.8%of the Groups revenue during the year under review,compared to
164、approximately 0.9%for last year.The increase in absolute amount was primarily attributable to the increase in the costs of selling,marketing and distribution personnel resulted from the growth in sales activities.Management Discussion and Analysis管理層討論與分析舜宇光學科技(集團)有限公司 2018 年報 25 研發費用截至二零一八年十二月三十一日止
165、年度,本集團的研發費用較去年增加約人民幣194,200,000元,達至約人民幣1,362,300,000元,於回顧年內佔本集團收入約5.3%,去年佔比約5.2%。總體研發費用的增加乃本集團持續投放資金於研發項目及業務發展所致。研發費用主要用於高規格手機鏡頭及手機攝像模組、創新型移動終端光電產品、車載鏡頭及車載攝像模組、紅外產品、安防監控系統產品、中高端光學儀器、智能檢測設備的研發以及原有產品種類的升級。行政費用截至二零一八年十二月三十一日止年度,本集團的行政費用較去年增加約人民幣45,000,000元,達至約人民幣433,900,000元,於回顧年內佔本集團收入約1.7%,與去年佔比相同。有關
166、絕對金額的增加主要是因為行政員工數量及薪資的上升,受限制性股份的授出及相關福利成本相應提高。所得稅開支截至二零一八年十二月三十一日止年度,本集團的所得稅開支較去年減少約人民幣65,600,000元,達至約人民幣338,600,000元。所得稅開支下降的主要原因是研發費用稅前扣除比例提高。於回顧年內,本集團的實際有效稅率約11.9%,去年則約12.2%。R&D ExpenditureThe R&D expenditure of the Group for the year ended 31 December 2018 increased by approximately RMB194.2 mil
167、lion compared to that of last year to approximately RMB1,362.3 million.It accounted for approximately 5.3%of the Groups revenue during the year under review,compared to approximately 5.2%for last year.The increase in overall R&D expenditure was attributable to the Groups continuous investment in R&D
168、 activities and business development.The R&D expenditure was mainly used in the R&D of high-end handset lens sets and handset camera modules,innovative optoelectronic products for mobile terminals,vehicle lens sets and automotive camera modules,infrared products,security surveillance systems product
169、s,mid-to high-end optical instruments,intelligent equipment for testing and the upgrade of existing product categories.Administrative ExpensesThe administrative expenses of the Group for the year ended 31 December 2018 increased by approximately RMB45.0 million compared to that of last year to appro
170、ximately RMB433.9 million.It accounted for approximately 1.7%of the Groups revenue during the year under review,which was same compared to that of last year.The increase in absolute amount was mainly attributable to the increase in the headcount and remuneration of administrative staff,the grant of
171、restricted shares and the corresponding increase in relevant fringe benefits.Income Tax ExpenseThe income tax expense of the Group for the year ended 31 December 2018 decreased by approximately RMB65.6 million compared to that of last year to approximately RMB338.6 million.The decrease in income tax
172、 expense was mainly attributable to the increasing pre-tax deduction ratio of R&D expenses.The Groups actual effective tax rate was approximately 11.9%during the year under review,compared to approximately 12.2%for last year.Management Discussion and Analysis管理層討論與分析26 Sunny Optical Technology(Group
173、)Company Limited ANNUAL REPORT 2018下表顯示本集團各中國附屬公司的適用稅率:Name of SubsidiariesType of Subsidiaries20020附屬公司名稱附屬公司類型二零一七年二零一八年二零一九年二零二零年(Expected)(Expected)(預期)(預期)+*Zhejiang Sunny Optics Co.,Ltd.(“Sunny Zhejiang Optics”)+*浙江舜宇光學有限公司(舜宇浙江光學)Limited liability company (Taiwan,Hong Kong or Macau
174、 joint venture)有限責任公司(台港澳合資)15.0%15.0%15.0%15.0%+*Ningbo Sunny Instruments Co.,Ltd.(“Sunny Instruments”)+*寧波舜宇儀器有限公司(舜宇儀器)Limited liability company (Taiwan,Hong Kong or Macau joint venture)有限責任公司(台港澳合資)15.0%15.0%15.0%15.0%+*Sunny Optics(Zhongshan)Co.,Ltd.(“Sunny Zhongshan Optics”)+*舜宇光學(中山)有限公司(舜宇中山
175、光學)Limited liability company (Taiwan,Hong Kong or Macau and domestic joint venture)有限責任公司(台港澳與境內合資)15.0%15.0%15.0%15.0%+*Ningbo Sunny Opotech Co.,Ltd.(“Sunny Opotech”)+*寧波舜宇光電信息有限公司(舜宇光電)Limited liability company (Taiwan,Hong Kong or Macau and domestic joint venture)有限責任公司(台港澳與境內合資)15.0%15.0%15.0%15
176、.0%+*Ningbo Sunny Infrared Technologies Co.,Ltd.(“Sunny Infrared Optics”)+*寧波舜宇紅外技術有限公司(舜宇紅外光學)Limited liability company(investment by foreign investment company)有限責任公司(外商投資企業投資)15.0%15.0%15.0%15.0%The tax rates applicable to the Groups subsidiaries in the PRC are shown as follows:Management Discuss
177、ion and Analysis管理層討論與分析舜宇光學科技(集團)有限公司 2018 年報 27 Name of SubsidiariesType of Subsidiaries20020附屬公司名稱附屬公司類型二零一七年二零一八年二零一九年二零二零年(Expected)(Expected)(預期)(預期)#+*Shanghai Sunny Hengping Scientific Instrument Co.,Ltd.(“Sunny hengping Instrument”)#+*上海舜宇恒平科學儀器有限公司(舜宇恒平儀器)Limited liability compa
178、ny(domestic joint venture)有限責任公司(國內合資)15.0%N/A不適用N/A不適用N/A不適用+*Ningbo Sunny Automotive Optech Co.,Ltd.(“Sunny Automotive Optech”)+*寧波舜宇車載光學技術有限公司(舜宇車載光學)Limited liability company (legal person sole investment by foreign investment company)有限責任公司(外商投資 企業法人獨資)15.0%15.0%15.0%15.0%#Sifang Technology(Han
179、gzhou)Co.,Ltd.(“Sifang Technology”)#思方科技(杭州)有限公司(思方科技)Limited liability company(legal person sole investment)有限責任公司(法人獨資)25.0%N/A不適用N/A不適用N/A不適用+*Xinyang Sunny Optics Co.,Ltd.(“Sunny xinyang Optics”)+*信陽舜宇光學有限公司(舜宇信陽光學)Limited liability company(investment by foreign investment company)有限責任公司(外商投資企業投
180、資)25.0%15.0%15.0%15.0%Shanghai Sunny Yangming Precision Optics Co.,Ltd.(“Sunny Shanghai Optics”)上海舜宇陽明精密光學有限公司(舜宇上海光學)Limited liability company(legal person sole investment by foreign investment company)有限責任公司(外商投資 企業法人獨資)25.0%25.0%25.0%25.0%Ningbo Sunny Intelligent Technology Co.,Ltd.(“Sunny Intell
181、igent Technology”)寧波舜宇智能科技有限公司(舜宇智能科技)Limited liability company(legal person sole investment)有限責任公司(法人獨資)25.0%25.0%25.0%25.0%Management Discussion and Analysis管理層討論與分析28 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 2018Name of SubsidiariesType of Subsidiaries20020附屬公司名稱附屬公
182、司類型二零一七年二零一八年二零一九年二零二零年(Expected)(Expected)(預期)(預期)Sunny Group Co.,Ltd.(“Sunny Group”)舜宇集團有限公司(舜宇集團)Limited liability company (legal person sole investment by foreign investment company)有限責任公司(外商投資 企業法人獨資)25.0%25.0%25.0%25.0%-Zhejiang Sunny Optical Intelligence Technology Co.,Ltd.(“Sunny Optical Int
183、elligence”)-浙江舜宇智能光學技術有限公司(舜宇智能光學)Limited liability company有限責任公司0%0%12.5%12.5%#Qingdao Sunny Hengping Instrument Co.,Ltd.(“Sunny hengping Instrument(Qingdao)”)#青島舜宇恒平儀器有限公司(舜宇恒平儀器(青島)Other limited liability company其他有限責任公司25.0%N/A不適用N/A不適用N/A不適用Sunny Optics(Zhejiang)Research Institute Co.,Ltd.(“Sun
184、ny Research Institute”)舜宇光學(浙江)研究院有限公司(舜宇研究院)Limited liability company(legal person sole investment)有限責任公司(法人獨資)25.0%25.0%25.0%25.0%Yuyao Sunny Optical Intelligence Technology Co.,Ltd.(“Sunny Optical Intelligence Yuyao”)餘姚舜宇智能光學技術有限公司(舜宇智能光學(餘姚)Limited liability company(legal person sole investment)
185、有限責任公司(法人獨資)25.0%25.0%25.0%25.0%!Ningbo Mei Shan Bao Shui Gang Qu Sunxin Investment Partnership (Limited Partnership)(“Ningbo Sunxin”)!寧波梅山保稅港區舜鑫投資管理合夥 企業(有限合夥)(寧波舜鑫)Limited partnership company有限合夥企業N/A不適用N/A不適用N/A不適用N/A不適用Management Discussion and Analysis管理層討論與分析舜宇光學科技(集團)有限公司 2018 年報 29 Name of S
186、ubsidiariesType of Subsidiaries20020附屬公司名稱附屬公司類型二零一七年二零一八年二零一九年二零二零年(Expected)(Expected)(預期)(預期)Ningbo Mei Shan Bao Shui Gang Qu Sunyi Investment Co.,Ltd.(“Ningbo Sunyi”)寧波梅山保稅港區舜翌投資管理有限公司(寧波舜翌)Limited liability company有限責任公司25.0%25.0%25.0%25.0%Yuyao City Sunny Huitong Microcredit Co.,Ltd
187、.(“Sunny huitong”)餘姚市舜宇匯通小額貸款有限公司(舜宇匯通)Limited liability company(legal person sole investment)有限責任公司(法人獨資)25.0%25.0%25.0%25.0%*該等公司於結算日前被認定為高新技術企業。+該等公司的高新技術企業證明將於二零一九年十二月三十一日或二零二零年十二月三十一日屆滿。#該等公司已於年內進行出售註銷。!該公司為有限合夥企業,由合夥人自行承擔所得稅。-該公司於結算日前被認定為軟件企業,享受企業所得稅兩免三減半優惠政策。*Companies recognised as Hi-Tech E
188、nterprises prior to the balance sheet date.+The Hi-Tech Enterprise Certification of the companies will expire on 31 December 2019 or 31 December 2020.#These companies were disposed/deregistered during the year.!The partners of the Company shall be responsible for the income tax because it is a limit
189、ed partnership company.-The Company was recognized as a Software Company prior to the balance sheet date,and entitled preferential policies of exemption from enterprise income tax for the first two years and reduction half for the subsequent three years.Management Discussion and Analysis管理層討論與分析30 S
190、unny Optical Technology(Group)Company Limited ANNUAL REPORT 2018Profit for the Year and Net Profit MarginThe profit for the year of the Group for the year ended 31 December 2018 decreased by approximately RMB401.4 million compared to that of last year to approximately RMB2,512.7 million.The decrease
191、d in net profit was mainly attributable to:1)the depreciation of Renminbi in the year ended 31 December 2018 which caused a net foreign exchange loss amounting to approximately RMB377.5 million,in which an unrealised foreign exchange loss amounting to approximately RMB272.9million was caused by the
192、USD600.0 million bonds issued by the Company on 23 January 2018 and related accrued interest payable,which was a non-cash item;and2)The gross profit margin of the Group for the year ended 31 December 2018 was approximately 2.6 percentage points lower compared to the gross profit margin for the year
193、ended 31 December 2017.The net profit margin was approximately 9.7%compared to approximately 13.0%for last year.年度溢利及淨利率截至二零一八年十二月三十一日止年度,本集團的年度溢利較去年減少約人民幣401,400,000元,達至約人民幣2,512,700,000元。淨利的減少主要是因為:1)人民幣於截至二零一八年十二月三十一日止年度貶值,導致外匯虧損淨額約人民 幣377,500,000元,其 中 未 變 現 外 匯虧 損 約 人 民 幣272,900,000元 是 由 於 本公司於二
194、零一八年一月二十三日發行之600,000,000美元債券以及其相關的預提應付利息所造成,其為非現金項目;及2)本集團截至二零一八年十二月三十一日止年度之毛利率較截至二零一七年十二月三十一日止年度之毛利率下降約2.6個百分點。淨利率則約9.7%,去年約13.0%。Management Discussion and Analysis管理層討論與分析舜宇光學科技(集團)有限公司 2018 年報 31 本公司股東應佔年內溢利截至二零一八年十二月三十一日止年度,本公司股東應佔年內溢利較去年減少約人民幣410,700,000元,達至約人民幣2,490,900,000元。末期股息截至二零一八年十二月三十一日
195、止年度,董事會建議派發每股約人民幣0.568元(相等於0.662港元)的股息,支付比例約為本公司股東應佔年內溢利約25.0%。流動資金及財政來源現金流量下表載列本集團於截至二零一八年十二月三十一日及二零一七年十二月三十一日止年度的現金流量概要:For the year ended 31 December截至十二月三十一日止年度20182017二零一八年二零一七年RMB millionRMB million人民幣百萬元人民幣百萬元Net cash from operating activities 經營活動所得現金淨額3,567.92,436.3Net cash used in investin
196、g activities 投資活動所用現金淨額(5,499.3)(1,686.3)Net cash from financing activities 融資活動所得現金淨額2,956.812.2本集團營運資金主要來自手頭現金及經營活動所得之現金淨額。董事會預期本集團將依賴經營活動所得現金淨額、銀行借貸及債券融資以應付短期內的營運資金及其它資本開支需求。長遠而言,本集團主要會以經營活動所得之現金淨額以及額外銀行借貸、債券融資或股權融資(如有需要)所得資金經營。截至二零一八年十二月三十一日止年度,本集團的資金及財務政策並無重大變動。Profit for the Year Attributable
197、to Owners of the CompanyThe profit for the year attributable to owners of the Company for the year ended 31 December 2018 decreased by approximately RMB410.7 million compared to that of last year to approximately RMB2,490.9 million.Final DividendsFor the year ended 31 December 2018,the dividends pro
198、posed by the Board was approximately RMB0.568(equivalent to HK$0.662)per share,with payout ratio of approximately 25.0%of the profit attributable to owners of the Company for the year.lIQUIDITY AND FINANCIAl RESOURCESCash FlowsThe table below summarises the Groups cash flows for the years ended 31 D
199、ecember 2018 and 31 December 2017:The Group derives its working capital mainly from cash on hand and net cash generated from operating activities.The Board expects that the Group will rely on net cash from operating activities,bank borrowings and debt financing in the short run to meet the demand of
200、 working capital and other capital expenditure requirements.In the long run,the Group will be mainly funded by net cash from operating activities and,if necessary,by additional bank borrowings,debt financing or equity financing.There were no material changes in the funding and financial policy of th
201、e Group for the year ended 31 December 2018.Management Discussion and Analysis管理層討論與分析32 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 2018本集團於二零一八年十二月三十一日的現金及現金等值項目餘額約人民幣2,254,300,000元,比去年年底增加約人民幣1,027,400,000元。經營活動經營活動所得現金流入主要來自本集團產品銷售現金收入。經營活動所用現金流出主要用於購買原材料、員工成本、銷售和分銷支出、研發開支及行政開支。
202、二零一八年財政年度的經營活動所得現金淨額約人民幣3,567,900,000元,而二零一七年財政年度的經營活動所得現金淨額則約人民幣2,436,300,000元。經營活動所得現金淨額增加主要是由於貿易及其他應付款項的增加和貿易及其他應收款項及預付款項較去年減少。貿易應收款項周轉日數(貿易應收款項餘額收入365日)由二零一七年財政年度的約73日減少至二零一八年財政年度的約72日。這兩個財政年度的貿易應收款項周轉日數沒有顯著差異。貿易應付款項周轉日數(貿易應付款項餘額含應計採購額銷售成本365日)由二零一七年財政年度的約94日減少至二零一八年財政年度的約88日。供貨商授出的產品採購信貸期最長為180
203、日,貿易應付款項周轉日數減少主要是因為本集團加強了對原材料採購的管控。存貨周轉日數(存貨餘額銷售成本365日)由二零一七年財政年度的約54日減少至二零一八年財政年度的約53日。這兩個財政年度的存貨周轉日數沒有顯著差異。The Groups balance of cash and cash equivalents was approximately RMB2,254.3 million as at 31 December 2018,representing an increase of approximately RMB1,027.4 million compared to the balanc
204、e of the end of last year.Operating ActivitiesCash inflow from operating activities was mainly generated from cash receipt from sales of the Groups products.Cash outflow from operating activities was mainly due to the purchases of raw materials,staff costs,selling and distribution expenses,R&D expen
205、diture and administrative expenses.Net cash generated from operating activities was approximately RMB3,567.9 million for the financial year of 2018 and net cash generated from operating activities was approximately RMB2,436.3 million for the financial year of 2017.The increase in the net cash genera
206、ted from operating activities was mainly attributable to the increase in trade and other payables and the decrease in trade and other receivables and prepayment compared to those of last year.The trade receivable turnover days(balance of trade receivables/revenue 365 days)decreased from approximatel
207、y 73 days for the financial year of 2017 to approximately 72 days for the financial year of 2018.There was no significant difference in trade receivable turnover days in these two financial years.The trade payable turnover days(balance of trade payables including accrued purchases/cost of sales 365
208、days)decreased from approximately 94 days for the financial year of 2017 to approximately 88 days for the financial year of 2018.The credit terms on purchases of goods granted by suppliers are up to 180 days.The decrease in the trade payable turnover days was mainly due to the Groups improved contro
209、l on the procurement of raw materials.The inventory turnover days(balance of inventories/cost of sales 365 days)decreased from approximately 54 days for the financial year of 2017 to approximately 53 days for the financial year of 2018.There was no significant difference in inventory turnover days i
210、n these two financial years.Management Discussion and Analysis管理層討論與分析舜宇光學科技(集團)有限公司 2018 年報 33 投資活動本集團於二零一八年財政年度的投資活動所用現金淨額約人民幣5,499,300,000元,這主要是由於在年內分別購置及解除非上市金融產品約人民幣46,832,600,000元及約人民幣44,352,800,000元 及 本 集 團 於 年 內 的 資 本 開 支 約 人 民 幣2,617,400,000元。融資活動本集團於二零一八年財政年度的融資活動所得 現 金 淨 額 約 人 民 幣2,956,80
211、0,000元,流入現金主要來自發行債券所得款項約人民幣3,832,100,000元以及新籌得的銀行借貸約人民幣1,898,200,000元,而主要流出則是償還銀行借貸約人民幣1,810,400,000元及向股東派付去年所宣派的股息約人民幣725,100,000元。資本開支截至二零一八年十二月三十一日止年度,本集團的資本開支約人民幣2,617,400,000元,主要用作購置物業、機器及設備、購置無形資產、購買土地使用權和其他有形資產。所有資本開支均來源於內部資源、債券融資及銀行借貸撥付。資本結構債務銀行借貸於二零一八年十二月三十一日,本集團的銀行貸款約人民幣1,482,400,000元(二零一七
212、年:約人民幣1,347,900,000元)。於二零一八年及二零一七年十二月三十一日,本集團並未就借貸而抵押若干樓宇及土地。Investing ActivitiesThe Group recorded a net cash used in investing activities of approximately RMB5,499.3 million for the financial year of 2018,which was mainly attributable to purchases and release of unlisted financial products of appr
213、oximately RMB46,832.6 million and approximately RMB44,352.8 million during the year respectively,and the Groups capital expenditure amounting to approximately RMB2,617.4 million during the year.Financing ActivitiesThe Group recorded a net cash from financing activities of approximately RMB2,956.8 mi
214、llion for the financial year of 2018.The cash inflow mainly came from proceeds from bond issuance of approximately RMB3,832.1 million and new bank borrowings raised of approximately RMB1,898.2 million.Major outflows were the repayment of bank borrowings of approximately RMB1,810.4 million and divide
215、nds paid to shareholders of approximately RMB725.1 million declared last year.Capital ExpenditureFor the year ended 31 December 2018,the Groups capital expenditure amounted to approximately RMB2,617.4 million,which was mainly used for the purchases of property,plant and equipment,purchases of intang
216、ible assets,acquisition of land use right and other tangible assets.All of the capital expenditure was financed by internal resources,debt financing and bank borrowings.CAPITAl STRUCTUREIndebtednessBank borrowingsBank borrowings of the Group as at 31 December 2018 amounted to approximately RMB1,482.
217、4 million(2017:approximately RMB1,347.9 million).No borrowings were secured by certain buildings and land of the Group as at 31 December 2018 and 2017.Management Discussion and Analysis管理層討論與分析34 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 2018銀行授信於二零一八年十二月三十一日,本集團於中國農業銀行股份有限公司餘姚支行的
218、授信為人民幣2,613,000,000元,於 中 國 銀 行 股 份 有 限 公司餘姚分行的授信為人民幣901,000,000元,於中國進出口銀行寧波分行的授信為人民幣700,000,000元,於寧波銀行股份有限公司餘姚支行的授信為人民幣600,000,000元,於交通銀行股份有限公司餘姚支行的授信為人民幣200,000,000元,於華夏銀行股份有限公司寧波分行的授信為人民幣80,000,000元,於中國工商銀行股份有限公司信陽平中大街支行的授信為人民幣50,000,000元,於中國建設銀行股份有限公司中山市分行的授信為人民幣20,000,000元,於法國巴黎銀行香港分行的授信為90,000,
219、000美 元,於 法 國 巴 黎 銀 行 上 海 分 行 的 授 信 為30,000,000美元,於香港上海滙豐銀行有限公司香港分行的授信為60,000,000美元,於滙豐銀行(中國)有限公司寧波分行的授信為30,000,000美元,於華僑銀行香港分行的授信為50,000,000美元。債務證券於二零一八年十二月三十一日,本集團的債務證券約人民幣4,080,000,000元(二零一七年:無)。本 集 團 於 二 零 一 八 年 一 月 十 六 日 發 行600,000,000美元債券,有關詳情請參閱綜合財務報表附註34。本集團的負債比率是指總借款佔總資本的比例(總資本為總負債與股東權益之和)約2
220、4.3%,反應出本集團財務狀況處於穩健的水平。或然負債於二零一八年十二月三十一日,本集團並無任何重大或然負債或擔保。Bank facilitiesAs at 31 December 2018,the Group had bank facilities of RMB2,613.0 million with Yuyao Branch of Agricultural Bank of China Limited,RMB901.0 million with Yuyao Branch of Bank of China Limited,RMB700.0 million with Ningbo Branch
221、of The Export-Import Bank of China,RMB600.0 million with Yuyao Branch of Ningbo Bank Co.,Ltd.,RMB200.0 million with Yuyao Branch of Bank of Communication Co.,Ltd.,RMB80.0 million with Ningbo Branch of Huaxia Bank Co.,Ltd.,RMB50.0 million with Xinyang Pingzhong Street Branch of Industrial and Commerc
222、ial Bank of China Limited,RMB20.0 million with Zhongshan Branch of China Construction Bank Co.,Ltd.,USD90.0 million with BNP Paribas Hong Kong Branch,USD30.0 million with BNP Paribas Shanghai Branch,USD60.0 million with Hong Kong and Shanghai Banking Corporation Limited Hong Kong Branch,USD30.0 mill
223、ion with Ningbo Branch of HSBC Bank(China)Co.,Ltd.,and USD50.0 million with Overseas-Chinese Banking Corporation Limited Hong Kong Branch.Debt securitiesAs at 31 December 2018,the Group have approximately RMB4,080.0 million of debt securities(2017:Nil).On 16 January 2018,the Group issued the 600,000
224、,000 USD bonds.For details,please refer to Note 34 to the consolidated financial statements.The Groups gearing ratio of approximately 24.3%refers to the ratio of total borrowings to total capital(total capital is the sum of total liabilities and shareholders equity),reflecting the Groups stable fina
225、ncial position.Contingent liabilitiesAs at 31 December 2018,the Group did not have any material contingent liabilities or guarantees.Management Discussion and Analysis管理層討論與分析舜宇光學科技(集團)有限公司 2018 年報 35 融資及財政政策和目標本集團採納謹慎的融資及財政政策。本集團將於運營需求增長時尋求銀行借貸及債務融資,並定期審查其銀行借貸及債務證券情況以達致一個穩健的財務狀況。資產抵押於二零一八年十二月三十一日,除
226、已抵押銀行存款約人民幣214,700,000元外,本集團並無任何資產抵押或押記。有關已抵押銀行存款之詳情,請參閱綜合財務報表附註內的附註28。承擔於二零一八年十二月三十一日,本集團根據不可取消經營租約之相關物業的未來最低租金付款承擔約人民幣155,200,000元(二零一七年:約人民幣143,700,000元)。於二零一八年十二月三十一日,本集團就收購物業,機器及設備有已訂約但未於綜合財務報表撥備的資本開支約人民幣880,900,000元(二零一七年:約人民幣789,600,000元)。於二零一八年十二月三十一日,除上述披露外,本集團並無任何其他資本承擔。資產負債表以外交易於二零一八年十二月三
227、十一日,本集團並無訂立任何重大的資產負債表以外交易。Financing and fiscal policies and objectivesThe Group adopts prudent financing and fiscal policies.The Group will seek bank borrowings and debt financing when its operating demand grows,and will regularly review its bank lending and debt securities to achieve a sound financ
228、ial position.PlEDGE OF ASSETSThe Group did not have any pledge or charge on assets as at 31 December 2018,except for the pledged bank deposits of approximately RMB214.7 million.For details of the pledged bank deposits,please refer to Note 28 to the consolidated financial statements.COMMITMENTSAs at
229、31 December 2018,the commitments for future minimum lease payments under non-cancellable operating leases of the Group in respect of premises amounted to approximately RMB155.2 million(2017:approximately RMB143.7 million).As at 31 December 2018,the capital expenditure of the Group in respect of acqu
230、isition of property,plant and equipment contracted for but not provided in the consolidated financial statements amounted to approximately RMB880.9 million(2017:approximately RMB789.6 million).As at 31 December 2018,the Group had no other capital commitments save as disclosed above.OFF-BAlANCE ShEET
231、 TRANSACTIONSAs at 31 December 2018,the Group did not enter into any material off-balance sheet transactions.Management Discussion and Analysis管理層討論與分析36 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 2018投資表現及未來投資計劃本集團的投資活動主要包括購置及解除非上市金融產品、存放及解除已抵押銀行存款、存放及提取短期定期存款及購置物業、機器及設備。尤其是,該等按公允
232、價值計入損益的金融資產包括:債務投資、股權投資、基金投資及非上市金融產品。其中,基金投資由相關金融機構管理,主要投資於和相關優先債表現掛鈎的債務證券;非上市金融產品由中國相關銀行管理,主要投資於債券、信託及現金基金等若干金融資產,其投資收益則根據相關政府債務工具及國庫券的表現釐定。於回顧年內,該等非上市金融產品主要涉及寧波銀行股份有限公司及中國農業銀行股份有限公司的非上市金融產品,最高分別為約人民幣3,600,000,000元及約人民幣2,982,800,000元。該等投資活動的資金來源主要為本集團的閒置自有資金。截至二零一八年十二月三十一日止年度,本集團動用約人民幣2,617,400,000
233、元進行投資活動,主要用作購置物業、機器及設備、以及新產品之產能初始化設置、購買土地使用權、無形資產和新項目的必要設備配置。該等投資增強了本集團的研發及技術應用能力及生產效率,並拓闊了收入來源。本集團財務政策保持審慎原則,投資項目多為保本且帶來固定收益之項目,以求財務狀況穩健的同時,提高回報。本集團將考慮使用金融工具作對沖用途(如有需要),並將繼續以其自身的財務資源作為其未來投資之資金來源。展望未來,本集團擬進一步投資以加強競爭力。PERFORMANCE OF INvESTMENTS MADE AND FUTURE INvESTMENTS PlANThe Groups investing act
234、ivities primarily include the purchases and release of unlisted financial products,placement and release of pledged bank deposits,placement and withdrawal of short term fixed deposits and purchases of property,plant and equipment.In particular,such financial assets at fair value through profit or lo
235、ss include:debt investments,equity investments,fund investments and unlisted financial products.Among them,the fund investment is managed by relevant financial institutions,mainly investing in debt securities linked to the performance of related senior debts while unlisted financial products are man
236、aged by relevant banks in China,mainly investing in certain financial assets such as bonds,trusts and cash funds,and their investment incomes are determined based on the performance of relevant government debt instruments and treasury bills.During the year under review,such unlisted financial produc
237、ts mainly involved unlisted financial products with Bank of Ningbo Co.,Ltd.and Agriculture Bank of China Limited of a maximum of approximately RMB3,600.0 million and approximately RMB2,982.8 million,respectively.The source of funding for such investing activities are primarily the idle self-owned fu
238、nds of the Group.For the year ended 31 December 2018,the Groups investments amounted to approximately RMB2,617.4 million,mainly involving in the purchases of property,plant and equipment,as well as the initial production settings for new products,acquisition of land use right,intangible assets and t
239、he necessary equipment configurations for new projects.These investments enhanced the Groups R&D and technological application capability and production efficiency,and thus expanded the sources of revenue.The Group adopts prudent financial policies,having its investment projects mostly capital-prote
240、cted with fixed income,so as to strive for a stable and healthy financial position while improving returns.The Group will consider to use financial instruments for hedging purposes if necessary and will continue to fund its future investment from its own financial resources.Going forward,the Group i
241、ntends to further invest to enhance its competitiveness.Management Discussion and Analysis管理層討論與分析舜宇光學科技(集團)有限公司 2018 年報 37 市場風險的量化和質化披露利率風險本集團面對作為營運資金以及用於本集團拓展和其它用途的資本開支的銀行借貸利率風險。利率的上調會增加現有及新增債務之成本。截至二零一八年十二月三十一日止年度,可變利息銀行借貸的實際年利率約2.74%至3.70%。匯率波動風險本集團部分產品會出口銷售至國際市場,同時也從國際市場購買大量產品,以上交易均以美元或其它外幣計算。有
242、關本集團遠期外匯合約及外匯期權合約之詳情,請參閱綜合財務報表附註內的附註29。除就本集團業務所進行及以外幣列值的若干投資外,本集團並未及無計劃作出任何外幣投資。信貸風險本集團的金融資產包括衍生金融資產、銀行結餘及現金、已抵押銀行存款、短期定期存款、按公允價值計入損益之金融資產、貿易及其他應收款項、應收關連人士款項、可供出售投資、按公允值計入其他全面收益的權益工具及按攤銷成本計量的債務工具,為本集團所面對有關金融資產的最大信貸風險。QUANTITATIvE AND QUAlITATIvE DISClOSURE ABOUT MARKET RISKInterest Rate RiskThe Grou
243、p is exposed to interest rate risks on its bank borrowings for working capital and capital expenditures that are associated with the expansion of the Group and for other uses.Upward fluctuations in interest rates increase the costs of both existing and new debts.For the year ended 31 December 2018,t
244、he effective interest rates for variable-rate bank borrowings ranged approximately from 2.74%to 3.70%per annum.Foreign Exchange Rate Fluctuation RiskThe Group exports a portion of its products to and purchases a considerable amount of products from international markets where transactions are denomi
245、nated in USD or other foreign currencies.Please refer to the information of the Groups foreign currency forward contracts and foreign currency options contracts at Note 29 to the notes to the consolidated financial statements.Except certain investments which are in line with the Groups business and
246、which are denominated in foreign currencies,the Group did not and has no plan to make any foreign currency investment.Credit RiskThe Groups financial assets include derivative financial assets,bank balances and cash,pledged bank deposits,short term fixed deposits,financial assets at fair value throu
247、gh profit or loss,trade and other receivables,amounts due from related parties,available-for-sale investments,equity instruments that are included in other comprehensive income at fair value and debt instruments measured at amortised cost,which represent the Groups maximum exposure to credit risk in
248、 relation to financial assets.Management Discussion and Analysis管理層討論與分析38 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 2018為減低有關貿易應收款項的信貸風險,管理層已委派專責隊伍,負責釐定信貸限額、審批信貸及其他監察程序,以確保採取適當的跟進行動收回過期債務。本集團亦已購買有關貿易應收款項的相關保險。此外,本集團於每個報告期期末檢討各項貿易債務的可回收金額,確保已為不可收回的金額計提足夠減值虧損。因此,董事認為本集團的信貸風險已大大降低。綜
249、合財務狀況表所示金額已扣除呆壞賬撥備,乃管理層根據過往經驗、對當時經濟環境的評估及將於日後收取的現金流量貼現值估計。本集團的貿易應收款項分散於大量交易對手及客戶,故無重大信貸集中風險。由於本集團大部分交易對手為獲國際信貸評級機構評定有高信貸評級的銀行,故流動資金的信貸風險有限。現金流量利率風險本集團的現金流量利率風險主要與短期銀行存款的可變利率有關。因此,日後任何利率變化均不會對本集團業績有重大影響。流動資金風險本集團持續監察預測及實際的現金流量水平,並會配對各項金融資產與負債的到期狀況,以維持足夠的現金及現金等值項目,從而控制流動資金風險。In order to minimise the c
250、redit risk in relation to trade receivables,the management has delegated a team which is responsible for the determination of credit limits,credit approvals and other monitoring procedures to ensure that follow-up actions are taken to recover overdue debts.The Group also has insurance policies in pl
251、ace relating to trade receivables.In addition,the Group reviews the recoverable amount of each individual trade debt at the end of each reporting period to ensure that adequate impairment losses are made for irrecoverable amounts.Therefore,the Directors consider that the Groups credit risk is signif
252、icantly reduced.The amounts presented in the consolidated statement of financial position are net of allowance for bad and doubtful debts,estimated by the management based on prior experience,their assessment of the current economic environment and the discounted cash flows to be received in future.
253、The Group has no significant concentration of credit risk since its trade receivables are dispersed to a large number of counterparties and customers.The credit risk on liquidity is limited because a majority of the counterparties are banks with high credit-ratings as rated by international credit-r
254、ating agencies.Cash Flow Interest Rate RiskThe Groups cash flow interest rate risk relates primarily to variable rates applicable to short term bank deposits.Therefore,any future variations in interest rates will not have any significant impact on the results of the Group.liquidity RiskThe Group man
255、ages liquidity risk by maintaining an adequate level of cash and cash equivalents through continuously monitoring forecast and actual cash flows and matching the maturity profiles of financial assets and liabilities.Management Discussion and Analysis管理層討論與分析舜宇光學科技(集團)有限公司 2018 年報 39 僱員和薪酬政策於二零一八年十二月
256、三十一日,本集團擁有16,535名全職僱員,包括8,583名管理和行政人員,7,285名生產人員和667名營運支持人員。全職僱員人數相比二零一七年十二月三十一日的28,540名下降約42.1%,原因是本集團為加強生產僱員的管理,部分製造崗位採用了勞務外包,因此生產僱員人數相應減少。為挽留傑出人才,本集團根據集團整體及員工的個別表現,向僱員提供具競爭力之薪酬福利,包括薪資、醫療保險、酌情花紅、其他員工福利、強制性公積金計劃(香港)及國家管理退休福利計劃(國內)等。本集團亦採納受限制股份獎勵計劃(受限制股份獎勵計劃),旨在為對本集團有貢獻的合資格參與者提供鼓勵和獎勵,增強員工的主人翁精神。於截至二
257、零一八年十二月三十一日止年度內,1,085,215股股份根據受限制股份獎勵計劃獲授予合資格參與者。股息董事建議就截至二零一八年十二月三十一日止年度自本公司可分派儲備向二零一九年六月三日營業時間結束時名列本公司股東登記名冊之股東支付末期股息每股約人民幣0.568元(相等於0.662港元)。有關末期股息將於二零一九年六月二十四日支付,惟須於二零一九年五月二十八日舉行之應屆股東週年大會(股東週年大會)取得本公司股東批准。EMPlOYEE AND REMUNERATION POlICYThe Group had a total of 16,535 dedicated full-time employe
258、es as at 31 December 2018,including 8,583 management and administrative staff,7,285 production workers and 667 operation supporting staff.The number of full-time employees decreased by approximately 42.1%compared to 28,540 as at 31 December 2017.Such decrease was due to the outsourcing of labour wor
259、ks of certain manufacturing positions,in an effort to enhance management of production staff.Therefore,the number of production workers decreased accordingly.In line with the performance of the Group and individual employees,a competitive remuneration package is offered to retain talents,including s
260、alaries,medical insurance,discretionary bonuses,other fringe benefits as well as mandatory provident fund scheme for employees in Hong Kong and state-managed retirement benefit scheme for employees in the PRC.The Group has also adopted the Restricted Share Award Scheme(“Restricted Share Award Scheme
261、”),for the purposes of providing incentives and rewards to eligible participants to recognise their contribution to the Group and to enhance their ownership spirits.During the year ended 31 December 2018,an aggregate of 1,085,215 shares were granted to eligible participants in accordance with the te
262、rms of the Restricted Share Award Scheme.DIvIDENDSThe Directors proposed a payment from the distributable reserves of the Company of a final dividend of approximately RMB0.568(equivalent to HK$0.662)per share in respect of the year ended 31 December 2018 to the shareholders whose names appear on the
263、 register of members of the Company at the close of business on 3 June 2019.The final dividends payable on 24 June 2019 is subject to the approval of the shareholders of the Company at the forthcoming annual general meeting(the“AGM”)to be held on 28 May 2019.Management Discussion and Analysis管理層討論與分
264、析40 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 2018DIvIDEND POlICYThe Directors consider sustainable returns to shareholders to be one of the main objectives.The basic policy is to pay final dividends in each financial year.Retained surplus is effectively used by the Board to fund
265、the future development of the Group.The Directors currently intend to recommend a distribution to all the shareholders in an amount representing approximately 20%to 30%of the distributable net profit attributable to the equity holders of the Company in respect of each financial year by way of divide
266、nds.The recommendation for dividends is subject to the discretion of the Board.The Board takes into account the following factors when considering the declaration and payment of dividends:the Companys cash position and available distributable reserves;the Groups general business condition;the Groups
267、 financial results;the Groups capital requirements;the interests of the shareholders;applicable laws and regulations and Articles;and any other factors which the Board may deem relevant.Any dividend declared will be in Hong Kong dollars with respect to Shares on a per share basis and the Company wil
268、l pay such dividend in Hong Kong dollars.No dividend shall be declared in excess of the amount recommended by the Board.Any final dividend for a fiscal year will be subject to approval by the shareholders.股息政策董事認為可持續的股東回報是主要目標之一。基本政策是在每個財政年度支付末期股息。保留盈餘由董事會有效用於為本集團未來發展提供資金。董事目前擬建議向全體股東分派相當於各個財政年度本公司股
269、權持有人應佔純利約20%至30%的款項作為股息。建議股息須由董事會酌情決定。董事會在考慮宣派及派付股息時,會考慮以下因素:公司現金狀況及可分派儲備;本集團的整體業務狀況;本集團的財務業績;本集團的資本需求;本公司股東的利益;相關法律與規例及細則;及 董事會可能認為相關的任何其他因素。任何股息將以港元就股份按每股基準宣派,且本公司將以港元派付有關股息。所宣派的股息不得超逾董事會建議的金額。各財政年度的任何末期股息須獲股東批准,方可作實。Management Discussion and Analysis管理層討論與分析舜宇光學科技(集團)有限公司 2018 年報 41 ClOSURE OF RE
270、GISTER OF MEMBERSIn order to determine the eligibility of shareholders to attend the AGM,which is to be held on 28 May 2019,the register of members of the Company will be closed from 23 May 2019 to 28 May 2019,both days inclusive,during which no transfer of shares will be registered.All transfer of
271、shares accompanied by the relevant share certificates must be lodged with the Companys branch share registrar in Hong Kong,Computershare Hong Kong Investor Services Limited at Shops 1712-1716,17th Floor,Hopewell Centre,183 Queens Road East,Wan Chai,Hong Kong for registration no later than 4:30 p.m.o
272、n 22 May 2019.In order to determine the eligibility of shareholders to the dividends,the register of members of the Company will be closed from 4 June 2019 to 11 June 2019,both days inclusive,during which no transfer of shares will be registered.All transfer of shares accompanied by the relevant sha
273、re certificates must be lodged with the Companys branch share registrar in Hong Kong,Computershare Hong Kong Investor Services Limited at Shops 1712-1716,17th Floor,Hopewell Centre,183 Queens Road East,Wan Chai,Hong Kong for registration no later than 4:30 p.m.on 3 June 2019.OUTlOOK AND FUTURE STRAT
274、EGIESDuring the year under review,under the multiple pressures of the global economic downturn,intensified market competition and the escalation of Sino-US trade frictions,the leaders of the Group led all employees to work together,face the difficulties and achieve more so that the main businesses o
275、f the Group continued to develop steadily.Looking into 2019,the macro-economic condition seems pessimistic with unpredictable market trends,but the Group is confident about its future operations.In the view of the Directors,2019 is still a year with both challenges and opportunities.The Groups manag
276、ement will closely monitor the development in the markets and the industries,accelerate its business transformation and upgrade,continue to implement its development strategies and lead the Group to achieve a good result in 2019.暫停辦理證券登記手續為符合出席二零一九年五月二十八日舉行的股東週年大會資格,本公司將由二零一九年五月二十三日至二零一九年五月二十八日(包括首尾
277、兩天)暫停辦理股份過戶登記手續。所有股份過戶文件連同有關股票,必須於二零一九年五月二十二日下午四時三十分前,送呈本公司於香港之證券登記分處香港中央證券登記有限公司,地址為香港灣仔皇后大道東183號合和中心17樓1712至1716號舖。為符合資格收取股息,本公司將由二零一九年六月四日至二零一九年六月十一日(包括首尾兩天)暫停辦理股份過戶登記手續。所有股份過戶文件連同有關股票,必須於二零一九年六月三日下午四時三十分前,送呈本公司於香港之證券登記分處香港中央證券登記有限公司,地址為香港灣仔皇后大道東183號合和中心17樓1712至1716號舖。展望及未來策略於回顧年內,在全球經濟低迷、市場競爭加劇及
278、中美貿易摩擦升級等多重壓力下,本集團領導人帶領全體員工同舟共濟,迎難而上,開拓進取,使得本集團主要業務持續穩健發展。展望二零一九年,宏觀經濟形勢不容樂觀,市場態勢波譎雲詭,但本集團仍對未來的經營充滿信心。董事認為,二零一九年仍是挑戰與機遇並存的一年。本集團管理層將密切關注市場及行業發展動態,加速業務的轉型和升級,持續貫徹發展戰略,並帶領本集團在二零一九年取得良好的業績表現。Management Discussion and Analysis管理層討論與分析42 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 20181.
279、Increase R&D investment and increase the added value of products and servicesIn 2019,the Groups research institute will continue to unite every subsidiary to explore new markets,integrate new technologies,develop new products(especially products combining hardware and software)and develop new busine
280、sses.At the same time,the institute will further cooperate with its subsidiaries to develop key technical elements.These technical elements are important for the Group to meet customer needs,increase product added value and gain competitive advantage in the industry.In addition,the Group needs not o
281、nly increase investment in R&D,but also strives to have clear objectives,strict organization,perfect system for remarkable results.2.Strengthen manufacturing capabilities and increase manufacturing added valueThe Group is currently in the process of transition from the focus of manufacturing to R&D,
282、and the added value generated from manufacturing will still be an important protection of the relatively strong growth in results for a long period of time.Even if the transformation is completed,high-end manufacturing is indispensable.Strengthening manufacturing capabilities is an important guarant
283、ee for an enterprise to maintain industry competitiveness.Therefore,the Group will continue in 2019:Optimize manufacturing management processes and organizational architecture to further advance refined management;Innovative process technology to accelerate the implementation of automated manufactur
284、ing and automated inspection;Integrate Enterprise Resources Plan(“ERP”)system,Manufacturing Execution System(“MES”)and manufacturing management processes to control the manufacturing process timely and accurately;Through continuous efforts in the above aspects,the Group will further enhance the manu
285、facturing yield rate,improve manufacturing efficiency,ensure product quality and enhance manufacturing added value.1、加大研發投入,提升產品與服務附加值於二零一九年,本集團研究院將繼續聯合各附屬公司主動發現新市場、整合新技術、開發新產品(特別是軟硬件結合的產品),發展新事業。同時,研究院也將進一步聯合各附屬公司進行關鍵技術要素的研發。這些技術要素對本集團滿足客戶需求、提高產品附加值及獲得行業競爭優勢至關重要。此外,本集團在研發上既要加大投入,更要力求目標明確、組織嚴密、體制完善、
286、成果顯著。2、強化製造能力,提升製造附加值本集團目前正處於從製造型向研發型的轉型過程中,在相當長的時期內由製造產生的附加值仍是獲得業績較好增長的重要保障。即使是完成了轉型,高端製造也是不可或缺的。強化製造能力是企業保持行業競爭力的重要保障。因此,本集團於二零一九年將繼續:優化製造管理流程和組織架構體系,進一步推進精細化管理;革新工藝技術,加速自動化製造和自動化檢測的實施;把企業資源計劃(ERP)、製造企業生產過程執行系統(MES)與製造管理流程融為一體,及時、準確把握製造過程;通過以上幾個方面的持續努力,本集團將進一步提升製造良品率,提高製造效率,保證產品品質,提升製造附加值。Manageme
287、nt Discussion and Analysis管理層討論與分析舜宇光學科技(集團)有限公司 2018 年報 43 3.Strengthen cost awareness,reduce operating costs,and improve overall competitive strengthEven for high-tech products,the time for sale at a premium is getting shorter and shorter,and the cost-effective is still the key to determine the fi
288、nal result in the competition.Therefore,low cost is always an important competitive edge for enterprises.Therefore,the cost reduction must be carried out in every aspect of the companys operations,and is mainly reflected in the following aspects:1)The research and development of new products must co
289、nsider the cost of the products on the premise of meeting the needs of the market and customers.Otherwise,the added value of the technology will be offset by the high cost,thus losing market competitiveness;2)The development of new process technologies must be carried out for improving manufacturing
290、 efficiency,improving product quality and improving yield rate;3)The cost of raw materials,the purchase price of materials,auxiliary materials,parts and other materials are directly related to the cost of the product;Therefore,the Group must further strengthen the supply chain construction by contin
291、uing to optimize suppliers and supply channels,enhancing the Companys supply chain advantages.At the same time,the Group must continue to improve the ability of technical marketing and value marketing.Finally,the Group must also further simplify the standard management process,improve the management
292、 system and improve management efficiency.3、加強成本意識,降低經營成本,提高綜合競爭實力即使是高科技產品,能溢價銷售的時間也越來越短,最終競爭的依然是性價比。因此,低成本始終是企業的重要競爭力。所以,降低成本要貫穿於公司經營的每一個環節,且主要在以下幾方面得到體現:1)新產品的研發,在符合市場、客戶需求的前提下,必須考慮產品的成本,否則技術附加值被高成本所抵消,從而失去市場競爭力;2)新工藝技術的研發必須圍繞提高製造效率,提升產品品質,提高良品率而展開;3)原材料成本,材料、輔料、零部件等物料的採購價格更是直接關乎產品的成本;因此,本集團必須進一步強
293、化供應鏈建設:要持續優化供應商及供應渠道,提升本公司供應鏈優勢;同時,本集團定將繼續提高技術營銷和價值營銷的能力;最後,本集團亦會進一步簡化規範管理流程,健全管理制度,提高管理效率。Management Discussion and Analysis管理層討論與分析44 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 20184.Strengthen team building and cultural construction to provide important protection for future sus
294、tainable developmentThe Group will continue to enhance the introduction of high-level talents and enhance employment and reserve of fresh graduates to build a talent cultivation system.It will feature a smoother growth,more scientific mechanism and sounder management through the talent cultivation m
295、echanism to consolidate the talent base of the Group continuously.At the same time,every staff member must optimize and update their knowledge constantly,enrich and supplement relevant knowledge through various methods such as learning,training and practice.These will timely supplement and update th
296、e knowledge system,effectively enhance their knowledge reserves and work ability.Moreover,all staff will take further opportunity of in-depth study of“Practice and Exploration”to continue promoting the unified understanding of“Prevention of Slackness and Keeping Motivation”.By exchanging,understandi
297、ng,implementing and executing the Companys culture at a deeper level,deficiencies which are often associated with large enterprises such as organisational rigid and departmental estrangement bred in enterprise development will be effectively prevented and this can ensure the health and vitality of t
298、he Group.In coming years,the Group will continue to enjoy benefit from the broad development prospects of the optical and optoelectronic industry.By actively utilising the Groups leader advantages in the industry as an optical expert,maintaining innovation and adhering to enhancing its comprehensive
299、 competitive strength constantly with its customer-oriented strategy led by technologies,the Group will continue to provide the global top-tier hi-tech companies with more high-quality products and services,thereby promoting corporate growth and value enhancement to create more returns for the share
300、holders continuously.4、加強團隊建設和文化建設,為未來的可持續發展提供重要保障本集團將繼續加強高層次人才引進,同時要加大應屆大學生的招聘與儲備,通過建立人才培養機制,構建一個成長更通順、機制更科學、管理更健全的人才培養體系,不斷夯實本集團的人才基礎。同時,每一位員工都要不斷優化更新知識結構,通過學習、培訓、實踐等多種方式,充實、補充相關知識,做到知識體系的及時補充和更新,有效提升其知識儲備和工作能力。此外,全體員工將進一步以深入學習 實踐與探索為契機,持續推進 防止懈怠、保持鬥志 的統一認識,通過對本集團文化的深層次交流、理解、貫徹與執行,有效防止企業成長中滋生的組織僵化
301、、部門隔閡等大企業病,確保本集團肌體的健康與活力。在未來幾年,本集團將持續受益於光學光電產業廣闊的發展前景,積極發揮本集團作為光學專家的行業領先者優勢,不斷創新,堅持以客戶為中心,以技術為導向,不斷提高自身的綜合競爭實力,為全球頂尖的高新技術企業提供更多優質產品與服務,推動企業的成長與價值的提升,持續為股東創造更高的回報。Management Discussion and Analysis管理層討論與分析舜宇光學科技(集團)有限公司 2018 年報 45 董事會於二零一八年內,董事會由七名董事組成,其中包括三名執行董事、一名非執行董事及三名獨立非執行董事。董事資料載於下文。董事執行董事葉遼寧先
302、生,53歲,本集團創辦人之一、現任本公司執行董事、董事會主席兼策略及發展委員會主席,負責本集團政策制訂及決策。葉先生於一九八四年加入餘姚縣城北光學儀器廠,自一九九五年起在該公司擔任副總經理。葉先生於二零零八年獲浙江省人事廳頒發高級經濟師資格。高級經濟師為中國的認可職稱,一般授予通過必需考核及具備豐富管理經驗的人士。於一九九九年,葉先生取得浙江廣播電視大學頒發的文憑。葉先生自二零零七年五月起擔任執行董事,現時為本集團不同成員公司的董事。葉先生於二零一八年十一月獲評寧波市政府 改革開放40周年時代甬商之 傑出甬商及 浙江省非公有制經濟人士新時代優秀中國特色社會主義事業建設者 的稱號。BOARD O
303、F DIRECTORSDuring the year of 2018,the Board consisted of 7 Directors comprising 3 executive Directors,1 non-executive Director and 3 independent non-executive Directors.The information on the Directors is set forth below.DIRECTORSExecutive DirectorsMr.Ye Liaoning(葉遼寧),aged 53,is one of the founders
304、 of the Group,and currently is an executive Director,the chairman of the Board and the chairman of the Strategy and Development Committee of the Company.He is responsible for formulating the Groups policies and making decisions.Mr.Ye joined Yuyao County Chengbei Optical Instruments Factory in 1984 a
305、nd became its deputy general manager since 1995.Mr.Ye has obtained a qualification of senior economist issued by the Personnel Bureau of Zhejiang in 2008.Senior economist is a recognised qualification in the PRC and is normally granted to a person who has passed necessary examinations and has acquir
306、ed substantial management experience.Mr.Ye obtained a diploma from Zhejiang Radio&TV University in 1999.Mr.Ye has been an executive Director since May 2007 and is currently a director of various members of the Group.Mr.Ye was awarded the title of“Outstanding Entrepreneurs”(傑出甬商)and the title of“Zhej
307、iang Province Outstanding Builder of Socialism with Chinese characteristics(Non-public Economic Person)(浙江省非公有制經濟人士新時代優秀中國特色社會主義事業建設者)”in the“40th Anniversary of Reform and Opening,Entrepreneurs of Time(改革開放40周年時代甬商)”by the Ningbo City Government in November 2018.Directors and Senior Management董事及高級
308、管理層46 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 2018Mr.Sun Yang(孫泱),aged 46,currently is an executive Director and the Chief Executive Officer of the Company.He is responsible for the overall operation and management of the Group.Mr.Sun graduated from Ningbo University in 1995 wit
309、h a bachelors degree in economics.He then obtained a masters degree in economics from Shanghai University of Finance and Economics in 2005.He joined Zhejiang Sunny(Group)Joint Stock Company Limited,originally known as Yuyao County Chengbei Optical Instruments Factory,as a chief officer of its invest
310、ment management centre in 2002.Mr.Sun has obtained a qualification of senior economist issued by the Personnel Bureau of Zhejiang in 2008 and awarded a qualification of chief senior economist issued by Zhejiang Province Human Resources and Social Security Department in December 2018.Currently,chief
311、senior economist is the highest economics professional and technical title in the PRC,which is only granted to a person who has passed strict examinations and has acquired substantial management experience with major achievements.Mr.Sun has been an executive Director since May 2009 and is currently
312、a director of various members of the Group.Mr.Wang Wenjie(王文杰),aged 51,currently is an executive Director and standing vice president of the Company.He is responsible for the strategic planning,information management and Research Institute of the Group.Mr.Wang graduated from Zhejiang University with
313、 a bachelors degree in engineering in 1989 and joined the Group after his graduation.Mr.Wang obtained a qualification as a senior economist in 2008 from the Personnel Bureau of Zhejiang.Senior economist is a recognised qualification in the PRC and is normally granted to a person who has passed neces
314、sary examinations and has acquired substantial management experience.In 2012,he was awarded the titles of“Outstanding Entrepreneur of Ningbo City”,“2012 Top 10 Yong Shang of Ningbo City”and“2012 National Outstanding Young Entrepreneur of Electronic Engineering Industry”.He has been an executive Dire
315、ctor since December 2013.He was elected as the vice chairman of the Chinese Optical Society in 2017,responsible for advancing the development of optical industry in China.孫泱先生,46歲,現任本公司執行董事及行政總裁,負責本集團全面營運及管理。孫先生於一九九五年畢業於寧波大學,取得經濟學學士學位。於二零零五年獲取上海財經大學頒授經濟學碩士學位。孫先生於二零零二年加入浙江舜宇(集團)股份有限公司(原稱為餘姚縣城北光學儀器廠),
316、擔任投資管理中心總監。孫先生於二零零八年獲浙江省人事廳頒發高級經濟師資格,並於二零一八年十二月獲得浙江省人力資源和社會保障廳授予的正高級經濟師職務任職資格。正高級經濟師是目前國內最高級別的經濟類專業技術職稱,需要通過嚴格的評審,且只有極少數具有豐富的管理經驗和取得重大成就的人士才能獲得。孫先生自二零零九年五月起擔任執行董事,現時為本集團不同成員公司的董事。王文杰先生,51歲,現任本公司執行董事及常務副總裁,負責本集團戰略規劃、信息管理及集團研究院。王先生在一九八九年畢業於浙江大學,取得工學學士學位,並於畢業後加入本集團。王先生於二零零八年從浙江省人事廳取得高級經濟師資格。高級經濟師為中國的認可
317、職稱,一般授予通過必需考核及具備豐富管理經驗的人士。其於二零一二年獲頒 寧波市優秀企業家的頭銜,並榮獲 寧波市2012年十大風雲甬商及2012年全國電子信息行業優秀青年企業家的頭銜。其自二零一三年十二月起擔任執行董事。其於二零一七年被選舉為中國光學學會副理事長,負責推動中國光學行業發展。Directors and Senior Management董事及高級管理層舜宇光學科技(集團)有限公司 2018 年報 47 非執行董事王文鑒先生,71歲,前任董事會主席、執行董事兼行政總裁,為本集團的創辦人之一,現任非執行董事兼董事會名譽主席。王先生於一九八四年加入餘姚縣城北光學儀器廠,任職工廠廠長,自一
318、九九四年該公司轉制為股份有限公司後一直擔任總經理。王先生於二零零六年獲寧波市企業家協會與寧波市企業聯合會頒發 優秀創業企業家稱號,並於二零一五年獲寧波市委人才辦頒發的寧波市卓越企業家獎及於二零一八年十一月獲評寧波市政府 改革開放40周年時代甬商之 卓越甬商的稱號。王先生於二零零三年擔任餘姚市慈善總會榮譽會長,並於二零零五年擔任浙江大學信息科學與工程學院客席教授。其於一九九六年獲寧波市人民政府頒發高級經濟師資格。高級經濟師為中國的認可職稱,一般授予通過必需考核及具備豐富管理經驗的人士。王先生於二零一二年三月調任為非執行董事。獨立非執行董事張余慶先生,71歲,獨立非執行董事兼審核委員會主席。張先生
319、於二零一七年五月起出任招銀雲創(深圳)信息技術有限公司的財務負責人。張先生曾於上海港務局出任財務處及審計處處長,且於二零零一年至二零零三年間獲委任為上海華源企業發展股份有限公司董事,並出任財務總監。張先生於一九八二年畢業於上海海運學院,取得經濟學學士學位,為高級會計師,並為中國註冊會計師協會非職業委員。其自二零零七年五月起擔任本公司之獨立非執行董事。Non-executive DirectorMr.Wang Wenjian(王文鑒),aged 71,former Chairman of the Board,executive Director and Chief Executive Offic
320、er,is one of the founders of the Group,and currently is a non-executive Director and the Honorary Chairman of the Board.Mr.Wang joined the Yuyao County Chengbei Optical Instruments Factory in 1984 as factory manager and became its general manager since 1994 when it was transformed to a joint stock l
321、imited liability company.Mr.Wang obtained the title of“Outstanding Entrepreneur”from Ningbo Entrepreneurs Association and Ningbo Enterprise Unite League in 2006 and was granted the“Ningbo Excellent Entrepreneur Award”(寧波市卓越企業家獎)by the Personnel Office under Ningbo Municipal Party Committee in 2015.M
322、r.Wang was awarded the title of“Excellent Entrepreneurs(卓越甬商)”in the“40th Anniversary of Reform and Opening,Entrepreneurs of Time(改革開放40周年時代甬商)”by the Ningbo City Government in November 2018.Mr.Wang acted as the Honorary President of Yuyao Charity Federation in 2003 and as a guest professor of the C
323、ollege of Information Science and Engineering,Zhejiang University in 2005.He obtained a qualification as a senior economist in 1996 from Ningbo Municipal Government.Senior economist is a recognised qualification in the PRC and is normally granted to a person who has passed necessary examinations and
324、 has acquired substantial management experience.Mr.Wang was redesignated as a non-executive Director in March 2012.Independent Non-executive DirectorsMr.Zhang Yuqing(張余慶),aged 71,is an independent non-executive Director and the chairman of Audit Committee.Mr.Zhang has worked in MBCloud(Shenzhen)Info
325、rmation Technology Co.,Ltd.(招銀雲創(深圳)信息技術有限公司)as finance-in-charge since May 2017.Mr.Zhang worked in Shanghai Port Bureau as heads of the financial division as well as the auditing division.He was also appointed as a director of Shanghai Worldbest Industry Development Co.,Ltd.from 2001 to 2003 and ac
326、ted as its chief financial officer.Mr.Zhang graduated from Shanghai Maritime University in 1982 with a bachelors degree in economics and is a senior accountant and a non-practicing member of the Chinese Institute of Certified Public Accountants.He has been an independent non-executive Director of th
327、e Company since May 2007.Directors and Senior Management董事及高級管理層48 Sunny Optical Technology(Group)Company Limited ANNUAL REPORT 2018馮華君先生,55歲,獨立非執行董事兼提名委員會主席。馮先生自一九八六年八月開始於浙江大學任教,自一九九八年七月起晉升至教授及博士生導師,主要負責教學及科研工作。其於二零一五年六月至今擔任浙江大學光學成像工程研究所所長,在此之前曾擔任浙江大學光學工程研究所所長及光電信息工程系系主任。馮先生於一九八三年七月在浙江大學獲得光學儀器工程系學士
328、學位,並於一九八六年七月獲得光學儀器工程系碩士學位。馮先生自二零一五年八月起出任鳳凰光學股份有限公司(其已發行股份在上海證券交易所上市(股票代碼:600071)的獨立非執行董事,並自二零一六年五月起出任杭州遠方光電信息股份有限公司(股票代碼:300306)的獨立非執行董事。其自二零一六年四月起擔任本公司之獨立非執行董事。邵仰東先生,49歲,獨立非執行董事兼薪酬委員 會 主 席。邵 先 生 現 時 為Yuantai Investment Partners Evergreen Fund,L.P.的普通合夥人。邵先生自二零零五年五月至二零一零年九月出任舜宇浙江光學及舜宇儀器的董事,自二零零五年十月至
329、二零一零年九月出任舜宇中山光學的董事,自二零零五年十一月至二零一零年九月出任舜宇光電的董事及自二零零六年三月至二零一零年九月出任舜宇紅外光學的董事。邵先生曾為Chengwei Ventures Evergreen Fund,L.P.的普通合夥人,及先前於所羅門兄弟公司投資銀行部擔任金融分析師。邵先生於一九九三年五月於哥倫比亞大學以優異學業成績獲得經濟學學士學位。邵先生亦於斯坦福大學商學院(Graduate School of Business at Stanford University)學習,並於二零零零年六月獲得工商管理碩士學位。其自二零一六年四月起擔任本公司之獨立非執行董事。Mr.Fen
330、g Hua Jun(馮華君),aged 55,is an independent non-executive Director and the chairman of Nomination Committee.Mr.Feng has been teaching in the Zhejiang University since August 1986 and been promoted to his current positions of professor and doctoral supervisor in July 1998,mainly responsible for works in
331、volving teaching and scientific research.He has been the director for the Institute of Optical Imaging Engineering of Zhejiang University(浙江大學光學成像工程研究所)since June 2015,prior to which he was the director for the Institute of Optical Engineering and the head of Department of Optoelectronic Information
332、 Engineering of Zhejiang University.Mr.Feng obtained a bachelors degree in July 1983 from Zhejiang University in optical instrument engineering,and also obtained a masters degree in July 1986 in optical instrument engineering from the same university.Mr.Feng has currently been an independent non-exe
333、cutive Director of Phenix Optical Company Limited,the issued shares of which are listed on the Shanghai Stock Exchange(stock code:600071),since August 2015 and an independent non-executive Director of Hangzhou Everfine Photo-E-Info Co.,Ltd.(stock code:300306)since May 2016.He has been an independent Non-executive Director of the Company since April 2016.Mr.Shao Yang Dong(邵仰東),aged 49,is an indepen