Stock Code: 000026;200026 Abbreviation of the Stock: FIYTA;FIYTAB Announcement No.: 2025-007
FIYTAPrecision Technology Co., Ltd.
2024Annual Report, Summary
I. Important Notice
This summary of the Annual Report is quoted out of the full text of theAnnual Report. Investors desirous to understand entirely the
Company's operation results, financial position and future development planning are advised to carefully read the full text of the
Annual Report which is published in the medium designated by CSRC.
All the directors attended the board meeting for reviewing theAnnual Report.
Indication of qualified audit opinion
Inapplicable
The profit distribution preplan or the preplan for conversion of reserve into capital for the reporting period reviewed by the Board of
Directors
Is there any public reserve converted into capital stock
No
Reviewed and approved by the Board of Directors , the Company's profit distribution preplan is summarized as follows: based on the
total share capital on the equity registration date when the profit distribution plan is implemented, cash dividends of RMB 4.00
(including tax) will be distributed to all shareholders for every 10 shares, without bonus share (including tax), and surplus funds will
not be converted into additional capital.
Profit Distribution Preplan for Preferred Shares during the Reporting PeriodApproved by the Resolution of the Board of Directors
Inapplicable
This report is prepared in both Chinese and English versions. If there is any ambiguity in understanding the report, the Chinese
version shall prevail.
II. Company Profile
1. Company Information
Short form of the stock: FIYTAand FIYTAB Stock Code 000026 and 200026
Stock Exchange Listed with Shenzhen Stock Exchange
Stock abbreviation before None
change (if any)
Liaison Persons and Secretary of the Board SecuritiesAffairs Representative
Communication Information
Names Song Yaoming Xiong Yaojia
20th Floor, FIYTATechnology Building, 18th Floor, FIYTATechnology Building,
Office Address Gaoxin S. Road One, Nanshan District, Gaoxin S. Road One, Nanshan District,
Shenzhen Shenzhen
Fax 0755-83348369 0755-83348369
Tel. 0755-86013669 0755-86013669
Email investor@fiyta.com.cn investor@fiyta.com.cn
2. Summary of the Principal Business or Leading Products during the Reporting Period
(1) Industry status during the reporting period
In 2024, according to the data of the National Bureau of Statistics, the total retail sales of domestic consumer goods increased by
3.5% year-on-year, the total consumer market grew steadily but differentiated significantly, and the traditional watch consumer
market faced multiple pressures such as demand contraction and intensified competition.
In terms of consumption structure, luxury goods and optional consumption continue to be under pressure, while experiential
consumption such as health and technology is on the rise. Bain's report indicated that the sales of personal luxury goods in mainland
China fell by 18%-20% year-on-year, among which the watch category was significantly affected by consumption outflow (the
proportion of overseas consumption rose to 40%) and preference shift. Data from the Federation of the Swiss Watch Industry showed
that the export value of Swiss watches to mainland China fell by 25.8% year-on-year throughout the year, and sales of watches in
various price ranges declined to varying degrees; Meanwhile, the PwC report revealed that the demand for sports equipment and
health monitoring equipment is rising, and IDC data showed that the shipments of wrist-worn devices (including smart watches and
bracelets) in China increased by 20.1% YoY in the first three quarters of this year, ranking first in the world.
In terms of consumption channels, fragmentation of offline channels has intensified, with discount stores and immersive
experience stores becoming the main growth drivers, while customer traffic to traditional department stores and specialty stores has
declined; The penetration rate of online channels has stabilized, and the proportion of refined operation modes such as livestream e-
commerce and member private domains has increased.
In terms of consumption preferences, young consumers are less loyal to brands and they are more concerned about cost-
effectiveness and consumption experience. Proactive healthcare, technological interaction, dedicated services and other models are
more popular.
In this context, the Company will insist on its own brand positioning, strengthen brand building and differentiation, and enhance
