年度報告 Annual Report （H股股份代號：0 5 5 3 ） (H Share Stock Code : 0 5 5 3 ) （A股股份代號：600775） (A Share Stock Code : 600775) Annual Report 2015 年 度 報 告 Contents Section I DEFINITION ................................................................ 2 Section II COMPANY PROFILE AND MAJOR FINANCIAL INDICATORS............................. 5 Section III AN OVERVIEW OF COMPANY’S BUSINESS ......................................... 11 Section IV MANAGEMENT DISCUSSION AND ANALYSIS....................................... 15 Section V SIGNIFICANT EVENTS......................................................... 51 Section VI CHANGES IN ORDINARY SHARE CAPITAL AND INFORMATION OF SHAREHOLDERS .......... 79 Section VII PROFILES OF DIRECTORS, SUPERVISORS, SENIOR MANAGEMENT AND STAFF .............. 90 Section VIII CORPORATE GOVERNANCE.................................................... 103 Section IX FINANCIAL REPORT .......................................................... 115 Section X DOCUMENTS AVAILABLE FOR INSPECTION ........................................ 352 Important Notice 1. The board of directors, the supervisory committee and the directors, supervisors and senior management of the Company confirm that the information contained in this annual report is true, accurate, and complete without any misrepresentation, misleading statements, or material omissions, and severally and jointly accept legal responsibility for the above. 2. All Directors of the Company attended the Board meeting held on 21 March 2016. 3. Both Baker Tilly Hong Kong Limited and Baker Tilly China (Special General Partnership), based on Hong Kong Financial Reporting Standards and PRC Accounting Standards for Business Enterprises, have issued an unqualified auditors’ report for the Company respectively. 4. Mr. Xia Dechuan, the Head of the Company, Mr. Shen Jianlong, the Chief Accountant, and Ms. Liu Xianfang, the Head of the Accounting Department (person in charge of accounting matters), declared that they confirmed the truthfulness, accuracy and completeness of the financial statements in the annual report. 5. Proposal of profit distribution or capitalisation of capital reserves of the Company for the Reporting Period considered by the Board: to distribute a cash dividend of RMB0.68 (tax inclusive) for every ten shares to all the shareholders on the basis of a total share capital of 913,838,529 shares as at 31 December 2015, with the total cash dividend to be distributed amounting to RMB62,141,019.97, and the remaining part to be carried forward to next year. The Company would not make any capitalization of capital reserve. 6. Forward looking statements, including future plans and development strategies, contained in this report do not constitute a substantive commitment to investors by the Company. Investors should be reminded of such investment risks. 7. Neither the Company’s controlling shareholder nor any of its related parties has misappropriated the Company’s funds for non-operating purposes. 8. The Company did not provide external guarantees in violation of any specified decision-making procedures. 9. Notice of significant risks: The Company has elaborated the potential risks in this annual report. For their details and the corresponding countermeasures, please refer to the paragraph headed “Potential Risks” under Section IV “Management Discussion and Analysis” in this annual report. 1 Definitions 1. Definitions Unless the context otherwise requires, the following terms should have the following meanings in this report: Company Nanjing Panda Electronics Company Limited (南京熊猫電子股份有限公司) Group Nanjing Panda Electronics Company Limited and its subsidiaries PEGL Panda Electronics Group Limited (熊猫電子集團有限公司) PEGL Group Panda Electronics Group Limited and its subsidiaries NEIIC Nanjing Electronics Information Industrial Corporation (南京中電熊猫信 息產業集團有限公司) NEIIC Group Nanjing Electronics Information Industrial Corporation and its subsidiaries CEC China Electronics Corporation (中國電子信息產業集團有限公司) CEC Group China Electronics Corporation and its subsidiaries Financial Company China Electronics Financial Co., Ltd. (中國電子財務有限責任公司) China Electronics Leasing Company China Electronics Commercial Financial Leasing Co., Ltd. (中電通商融資 租賃有限公司) ENC Nanjing Ericsson Panda Communication Co., Ltd. (南京愛立信熊猫通信 有限公司) BMC Beijing SE Putian Mobile Communication Co., Ltd. (北京索愛普天移動通 信有限公司) Shenzhen Jinghua Shenzhen Jinghua Electronics Co., Ltd. (深圳市京華電子股份有限公司) Electronics Equipment Company Nanjing Panda Electronics Equipment Co., Ltd. (南京熊猫電子裝備有限公 司) Information Industry Company Nanjing Panda Information Industry Co., Ltd. (南京熊猫信息產業有限公 司) Electronic Manufacture Company Nanjing Panda Electronic Manufacture Co., Ltd. (南京熊猫電子製造有限 公司) Communications Technology Nanjing Panda Communications Technology Co., Ltd. (南京熊猫通信科技 Company 有限公司) Huage Appliance Company Nanjing Huage Appliance and Plastic Industrial Co., Ltd. (南京華格電汽塑 業有限公司) 2 Definitions (Continued) Mechanical Manufacturing Company Nanjing Panda Mechanical Manufacturing Co., Ltd. (南京熊猫機電製造 有限公司) Technology Development Nanjing Panda Electronic Technology Development Company Limited (南 Company 京熊猫電子科技發展有限公司) China Huarong China Huarong Asset Management Co., Ltd. (中國華融資產管理股份有 限公司) China Great Wall China Great Wall Asset Management Corporation (中國長城資產管理公 司) CSRC China Securities Regulatory Commission SFC Securities and Futures Commission of Hong Kong (香港證券及期貨事務 監察委員會) Shanghai Stock Exchange Shanghai Stock Exchange Hong Kong Stock Exchange The Stock Exchange of Hong Kong Limited CSRC Jiangsu Bureau Jiangsu Securities Regulatory Bureau of China Securities Regulatory Commission China Securities China Securities Co., Ltd. Company Law Company Law of the People‘s Republic of China Securities Law Securities Law of the People‘s Republic of China Articles of Association Articles of Association of Nanjing Panda Electronics Company Limited AFC Auto Fare Collection ACC AFC Clearing Center SMT Surface Mounted Technology, the most commonly used technology and process in the electronics assembly industry EMS Electronic Manufacturing Services TD-LTE Time Division-Synchronous Code Division Multiple Access (TD-SCDMA) Long Term Evolution CIM Computer Integrated Manufacturing MESH Mesh Network, a multi-hop network and developed from ad hoc network, representing one of the critical technologies to solve the problem known as “The Last Kilometer” 3 Definitions (Continued) CNAS Certification China National Accreditation Service for Conformity Assessment MES system manufacturing execution system, namely Implementation System of Manufacturers Process serving as a management system of information- based production aiming at execution on plant floors of manufacturers ERP Information-based Systems Enterprise Resource Planning, based on ideas of systematic management and built on the basis of information technology which provides a management platform of decision-making for the decision-makers and employees TD trunking communication system TD-SCDMA trunking communication system, an advanced mobile system with commanding and distributing features, representing a development direction for exclusive mobile communication network in the communication system BPR technique Bottom Process Recombine is a bottom welding and recombining technique, a through-hole reflow (THR) technique 4 Company Profile and Major Financial Indicators I. Company Information Chinese name of the Company 南京熊猫電子股份有限公司 Abbreviation of the Chinese name 南京熊猫 English name of the Company Nanjing Panda Electronics Company Limited Abbreviation of the English name NPEC Legal Representative of the Company Xia Dechuan (Executive Director, General Manager) II. Contact Persons and Contacts Secretary to the Board Securities Affairs Representative Name Shen Jianlong Wang Dongdong Correspondence 7 Jingtian Road, Nanjing, the People’s 7 Jingtian Road, Nanjing, the People’s address Republic of China Republic of China Telephone (86 25) 84801144 (86 25) 84801144 Facsimile (86 25) 84820729 (86 25) 84820729 Email [email protected] [email protected] III. Basic Information Registered Address Level 1-2, Block 5, North Wing, Nanjing High and New Technology Development Zone, Nanjing, the People’s Republic of China Postal code of the registered address 210032 Office Address 7 Jingtian Road, Nanjing, the People’s Republic of China Postal code of the office address 210033 Website http://www.panda.cn Email [email protected] IV. Place for Information Disclosure and Inspection Designated Newspaper for information disclosure Shanghai Securities News, China Securities Journal International Websites for the publication of the Shanghai Stock Exchange: http://www.sse.com.cn Company’s Annual Report and information Hong Kong Stock Exchange: http://www.hkex.com.hk disclosure Place for Inspection of the Company’s Annual Office of Secretary to the Board of Directors, 7 Jingtian Road, Report Nanjing, the People’s Republic of China V. Information of the Company’s Shares Overview of the Company’s shares Type of Place of listing of Stock Abbreviation shares the Company’s shares Stock abbreviation Stock code before changes A shares Shanghai Stock Exchange Nanjing Panda 600775 N/A H shares Hong Kong Stock Exchange Nanjing Panda 00553 N/A 5 Company Profile and Major Financial Indicators (Continued) VI. Other Relevant Information Domestic auditors of the Name Baker Tilly China (Special General Partnership) Company Office address 2/F, Tower B, Huatong Building, No. 19 Chegongzhuang Road West Yi, Haidian District, Beijing, the PRC Name of signing accountants Wang Chuanbang, Zhou Weiying