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+81,377
+Li Qian
+Wang Chuan-fu
+Authorized Representatives
+Zou Fei
+Wang Zi-dong
+Xia Zuo-quan
+Lv Xiang-yang
+Strategy Committee
+Wang Chuan-fu (Chairman)
+Zhang Ran
+Zou Fei
+Wang Zi-dong (Chairman)
+Lv Xiang-yang
+Wang Chuan-fu
+Nomination Committee
+Li Qian
+Company Secretary
+Huang Jiang-feng
+Executive Director
+Wang Chuan-fu
+Non-executive Directors
+Lv Xiang-yang
+Xia Zuo-quan
+Independent Non-executive Directors
+Legal Address
+Wang Zi-dong
+Zhang Ran
+Supervisors
+Dong Jun-qing
+Li Yong-zhao
+Wang Zhen
+Yan Chen
+Zou Fei
+Corporate Information
+No. 1, Yan' an Road
+Kuichong Street
+Shenzhen
+Hopewell Centre
+17th Floor
+Shops 1712-1716
+Computershare Hong Kong Investor Services Limited
+Hong Kong Share Registrar and Transfer Office
+Hong Kong
+New Territories
+1
+No. 138 Shatin Rural Committee Road
+Tower 2 Grand Central Plaza
+Unit 1712, 17th Floor
+Place of Business in Hong Kong
+Corporate Information
+BYD Company Limited Annual Report 2016
+Zhang Ran
+Ernst & Young Hua Ming (LLP)
+Domestic Auditors
+Guangdong Province
+The PRC
+Audit Committee
+Lv Xiang-yang
+Wang Zi-dong
+Zou Fei
+Dapeng New District
+Zhang Ran (Chairman)
+Wang Chuan-fu
+Xia Zuo-quan
+Wang Zi-dong
+Zou Fei (Chairman)
+International Auditors
+Ernst & Young
+Remuneration Committee
+BYD Company Limited Annual Report 2016
+4
+%7*06
+116
+132
+0.63
+0.69
+0.77
+0.82
+1.00
+71
+94
+103
+109
+74
+70,007,807
+78,014,834
+94,008,855
+115,485,755
+145,070,778
+Current ratio (times)
+Gearing ratio (%) (Note)
+Total assets
+Net assets (less minority interests)
+0.2
+2016
+RMB'000
+118
+2015
+RMB'000
+RMB'000
+2013
+RMB'000
+51,255,929 32,294,404
+25,365,597
+21,709,764
+2012
+RMB'000
+21,196,984
+As at 31 December
+2014
+86
+83
+76
+BYD Company Limited Annual Report 2016
+3
+Financial Highlights
+7%
+2015
+2015
+Others
+2016
+3.7%
+OO
+2016
+%8*76
+2015
+2015
+1.8%
+183 Queen's Road East
+Europe
+China
+73
+71
+68
+67
+Note: Gearing ratio = Total borrowings net of cash and cash equivalents/net assets (less minority interests)
+Turnover Breakdown by Product Categories
+U.S.A.
+Rechargeable Battery and Photovoltaic
+Handset and Assembly Services
+Automobiles
+2016
+2016
+Turnover Breakdown by Locations of Customers
+·
+7%
+Wanchai
+Hong Kong
+Investor and Media Relations Consultant
+55 Notes to Financial Statements
+53 Consolidated Statement of Cash Flows
+51 Consolidated Statement of Changes in Equity
+49 Consolidated Statement of Financial Position
+48 Consolidated Statement of Comprehensive Income
+47 Consolidated Statement of Profit or Loss
+42 Independent Auditor's Report
+41 Report of the Supervisory Committee
+34 Report of the Directors
+27 Corporate Governance Report
+20 Directors, Supervisors and Senior Management
+10 Management Discussion and Analysis
+6 Chairman's Statement
+4 Corporate Information
+Financial Highlights
+2
+Contents
+Company Profile
+公司簡介
+BYD Company Limited (“BYD” or “the Company" together with its subsidiaries, “the Group"; stock code: H Shares: 01211; A Shares: 002594) is principally engaged in rechargeable
+battery and photovoltaic business, handset components and assembly services, as well as automobile business which includes traditional fuel-engined vehicles and new energy
+vehicles while taking advantage of its technological superiority to actively develop business relating to the area of new energy products.
+BYD is one of the leading rechargeable battery manufacturers in the global arena. Major clients include leading handset manufacturers such as Samsung and Huawei, as well as
+global electric power tools and other portable electronic equipment manufacturers such as Bosch and Cooper. Lithium-ion and nickel batteries produced by the Group are widely
+applied on handsets, digital cameras, power tools, electric toys and other portable electronic devices and electric products.
+As one of the world's leading suppliers for handset components and assembly operations, the Group can provide customers with vertically integrated one-stop services from whole
+product design, components manufacturing to whole product assembly services, with the product portfolio covering handsets, tablets, notebook computers and other consumer
+electronic products, but the Group does not produce its own brand of whole products. Main customers of the business include Samsung, Apple, Huawei, Lenovo, Vivo, Asus and other
+intelligent mobile terminal leaders.
+Since tapping into the automobile business in 2003, by leveraging on its advanced technology and cost advantages and international quality products, the Group has achieved
+remarkable growth in automobile business and has rapidly grown into a leading automobile manufacturer in China with domestic self-owned brand. As a pioneer in the research and
+development and promotion of new energy vehicles in the world, the Group has accelerated extensive skills and gained leading market share in the new energy vehicles area, which
+has established the leading position of BYD in the global new energy vehicles sector.
+132 Five Year Financial Summary
+In September 2008, MidAmerican Energy Holdings Company (now renamed as Berkshire Hathaway Energy), a subsidiary of Berkshire Hathaway, entered into an agreement with
+the Company, pursuant to which MidAmerican Energy Holdings Company acquired 225 million H Shares of the Company, representing approximately 8.25% of the Company's total
+capital at present, to become the Group's long term strategic partner. In February 2011, the joint venture of the Group and Daimler AG was formally established for the joint research
+and development of electric vehicles. In June 2011, the Company made an IPO of 79 million RMB ordinary shares (A shares) which were listed on the SME Board of Shenzhen Stock
+Exchange ("the Shenzhen Stock Exchange").
+比亞迪股份有限公司(「比亞迪」或「本公司」,連同其附屬公司統稱「本集團」;股份代號:(H股:01211:A股:002594)主要從事二次充電電池及光伏業務、
+手機部件及組裝業務,以及包含傳統燃油汽車及新能源汽車在內的汽車業務,同時利用自身的技術優勢積極拓展新能源產品領域的相關業務。
+比亞迪為全球領先的二次充電電池製造商之一,主要客戶包括三星、華為等手機領導廠商,以及博世、庫柏等全球性的電動工具及其他便攜式電子設備廠
+商。本集團生產的鋰離子電池及鎳電池廣泛應用於手機、數碼相機、電動工具、電動玩具等各種便攜式電子設備和電動產品。
+作為全球領先的手機部件及組裝業務的供應商之一,本集團可以為客戶提供從整機設計、部件生產到整機組裝的垂直整合的一站式服務,產品覆蓋手機、平
+板電腦、筆記本電腦及其他消費類電子產品等領域,但不生產自有品牌的整機產品。該業務的主要客戶包括三星、蘋果、華為、聯想、vivo、華碩等智能移動
+終端領導廠商。
+自二零零三年拓展汽車業務以來,憑藉集團產品領先的技術及成本優勢及具備國際標準的卓越質量,集團的汽車業務實現高速增長,迅速成長為領先的中國
+自主品牌汽車廠商。作為全球新能源汽車研發和推廣的先驅,集團於新能源汽車領域擁有雄厚的技術積累、領先的市場份額,奠定了比亞迪於全球新能源汽
+車領域的行業領導地位。
+二零零八年九月,Berkshire Hathaway旗下附屬公司MidAmerican Energy Holdings Company(中美能源控股公司,現更名為Berkshire Hathaway Energy)與本公司簽署協議,
+認購本公司2.25億股H股(佔目前本公司總股本的約8.25%),成為集團的長期投資戰略夥伴。二零一一年二月,集團與Daimler AG(戴姆勒)的合資公司正式成
+立,以共同研究及開發電動車。二零一一年六月,公司首次向中國社會公眾公開發行人民幣普通股(A股)7,900萬股並在深圳證券交易所(「深交所」)中小企業
+板上市。
+新能源業務是比亞迪未來發展的重要範疇,憑藉自身在新能源業務領域的技術和品質優勢,集團將積極拓展新能源產品領域的相關業務,推動業務長遠及可
+持續發展。
+New energy business is an important area for BYD's future development. By leveraging its technology and quality advantages in the new energy sector, the Group will actively develop
+business relating to the area of new energy products to facilitate its long-term and sustainable development.
+2
+BYD Company Limited Annual Report 2016
+Financial Highlights
+5,126,328
+Gross profit margin (%)
+19
+15
+14
+13
+6,516,314
+12
+5,052,154
+2,823,441
+Net profit margin (%)
+5.0
+3.6
+433,525
+0.8
+Profit attributable to equity holders of the parent
+The Board of Directors of the Company (the "Board") is pleased to announce the audited results
+of the Company and its subsidiaries for the twelve months period ended 31 December 2016. This
+announcement, containing the full text of the 2016 Annual Report of the Company, is prepared
+with reference to the relevant requirements of the Rules Governing the Listing of Securities on
+The Stock Exchange of Hong Kong Limited in relation to preliminary announcements of annual
+results. Printed version of the Company's 2016 Annual Report will be delivered to the Company's
+shareholders and will also be available for viewing on the websites of Hong Kong Exchanges and
+Clearing Limited at http://www.hkex.com.hk and of the Company at http://www.byd.com.cn.
+7,623,458
+49,767,887
+Five-Year Comparison of Key Financial Figures
+For the year ended 31 December
+2016
+RMB'000
+2015
+RMB'000
+2014
+RMB'000
+44,380,858
+2013
+RMB'000
+Turnover
+Gross profit
+100,207,703
+19,018,263
+77,611,985
+11,859,244
+55,366,384
+2012
+RMB'000
+Trade and bills receivables turnover (days)
+2016 ANNUAL RESULTS ANNOUNCEMENT
+(Stock Code: 1211)
+F
+Shenzhen, the PRC, 28 March 2017
+Chairman
+Wang Chuan-fu
+New energy automobiles and "Skyrail" are the key strategic
+development directions of BYD in the future, and through new
+energy automobiles and "Skyrail", BYD will provide cities with a
+comprehensive solution from addressing pollution to traffic congestion.
+BYD is committed to solving the problem of air pollution and traffic
+congestion commonly found in cities, with an aim to keep improving
+the living environment of cities while achieving continuous growth of
+BYD. On behalf of BYD, I would like to express sincere gratitude to our
+customers, business partners, investors and shareholders for their
+support and trust in the Group. I also give my heartful thanks to all the
+staff members for their loyalty, hard work and professionalism in the
+past year. BYD will continue to expedite the development of all of its
+businesses and focus on maximizing returns for shareholders.
+photovoltaic and energy storage markets, with a view to promoting the
+development of photovoltaic business and energy storage business, and
+striving to increase the revenue and profitability.
+In the handset component and assembly business, the Group will
+continue to make efforts to develop its metal parts business and also
+actively seek business from new customers at home and abroad to
+establish a more diverse customers base. In respect of the application
+of new materials, the Group will focus on developing technology
+and techniques related to 3D glass, enhancing product yield rate
+and expanding product capacity, in order to be well-prepared for
+the customers' diversified product needs in the future and achieve
+sustainable development of its handset component and assembly
+business. For the business of rechargeable batteries, the Group will
+continue to maintain the stable development of its traditional battery
+business, while actively expanding the domestic and international
+Looking into 2017, BYD will make additional investments to expand
+production capacity, improve product competitiveness, accelerate
+research and development and launch more new models with the
+aim of satisfying the market's growing demand. Currently, as the
+construction of rail transportation has been included into major
+development projects by the "13th Five-year Plan" in several provinces
+and municipalities, the Group will focus on developing low-carbon and
+green "Skyrail" and strive to cooperate with more cities in China to cope
+with the increasingly severe traffic problems in cities.
+Chairman's Statement
+7
+BYD Company Limited Annual Report 2016
+During the Year, the Group completed the non-public offering of A
+shares and raised total funds of about RMB14.473 billion with strategic
+investment from SDIC Advanced Manufacturing Industry Investment
+Fund (¸£À¤¤¤¥1) and Samsung Group, thus
+the capital strength of the Group was greatly enhanced, and sufficient
+fund was provided for the Group's future development. Meanwhile,
+in order to protect the upstream supply of key resources for new
+energy automobile power batteries, the Group signed a "Cooperative
+Framework Agreement on the Exploitation of Lithium Resources in Salt
+Lake" with Qinghai Salt Lake Industry Co., Ltd. (I☀
+1) during the Year, pursuant to which, the parties have
+agreed to set up a joint venture in Qinghai engaging in the development,
+processing and sales of lithium resources in the Salt Lake, by which the
+Group realized its layout regarding the upstream industry chain of its
+new energy automobiles.
+As for the handset component and assembly business, leveraging on
+rich experience, leading technology and well-developed techniques
+accumulated in metal parts area, the Group continued to maintain close
+cooperation with leading handset manufacturers at home and abroad
+and actively sought business from new clients. The metal parts business
+maintained its fast growth during the Year, making a decent contribution
+to the profit of the Group. In the rechargeable battery business,
+traditional battery business maintained stable development, while
+photovoltaic business achieved rapid growth in revenue but continued
+certain losses.
+During the Year, the straddle monorail "Skyrail” for which the Group
+spent 5 years for its research and development was officially launched.
+In addition, the first "Skyrail” line with proprietary intellectual property
+right, was completed and commenced operation, which marked BYD's
+official entry into the urban rail transportation industry. "Skyrail", as
+part of the multilevel transportation system, has an exclusive road
+right similar to metro and is capable for high-speed mass transit with
+construction cost and conditions significantly lower than metro, and
+therefore, it can bring good social and economic benefits, and play
+a significant role in improving urban traffic situation. The launch of
+"Skyrail" not only can solve the growing urban traffic problem, but also
+help the Group realize a layout of public transportation with a multilevel
+coverage from the ground to the air, thus bringing the Group to a new
+blue ocean and creating new opportunities for the long-term growth of
+the Group.
+During the Year, BYD proactively rushed forward the development of the
+new energy automobile business, and maintained its leading position in the
+world's new energy automobiles field, topping the global market again in
+terms of sales volume. Of which, the Group's plug-in hybrid vehicle model
+"Tang" ranked first in terms of sales of China's new energy automobiles.
+The vehicle models "Qin EV300" and "e5" received overwhelming response
+from consumers once launched and became the leading models in Beijing
+market. In respect of traditional automobile business, the Group's first
+small-sized SUV model "Yuan" which was launched in April, improved the
+Group's SUV product line. The "matchless edition" of "Song", launched in
+September 2016, has recorded monthly sales of over 10,000 units for three
+consecutive months. The impressive sales of SUV models, provided driving
+force for the continuous improvement in the Group's traditional automobile
+product structure.
+Against this backdrop, turnover of the Group increased by 29.11% to
+RMB100,208 million during the Year. Profit attributable to owners of the
+parent company increased by 78.94% to RMB5,052 million. Earnings
+per share were RMB1.88. The Board recommended the payment of
+final dividends of RMBO.178 per share (tax inclusive) for the year ended
+31 December 2016.
+2016 is the first year of China's "13th Five-Year Plan" and China's
+economic development entered the "new_normal". Focusing on
+promoting the supply-side structural reforms, the Central Government
+put fostering strategic emerging industries in a more outstanding
+position in economic and social development. During the Year,
+benefiting from purchase tax concessions policy, the production and
+sales of passenger vehicles hit record high again and SUV is still the
+main growth driver for China's automobile market. Affected by the
+fraud investigations and changes of policies, growth of new energy
+automobile industry slowed down during the Year, and nevertheless, it
+still attained relatively rapid growth. As for the handset industry, China's
+branded smartphone shipments remained strong. With an increasingly
+mature manufacturing technology of metal parts, its cost was declining
+and remained to lead the trend of the industry. As for the rechargeable
+battery industry, the market for traditional batteries is still developing
+steadily. With a declining module cost, the development pace of
+distributed photovoltaic industry clearly accelerated and photovoltaic
+industry showed a continuous recovery, but the market competition is
+still fierce.
+iPR Ogilvy Ltd.
+Tel: (852) 2136 6185
+Fax: (852) 3170 6606
+Website
+www.byd.com.cn
+Stock Code
+E
+H Shares: 01211 (The Stock Exchange of Hong Kong Limited) ("Hong Kong Stock Exchange")
+5
+6
+BYD Company Limited Annual Report 2016
+Chairman's Statement
+Dear shareholders,
+On behalf of the Board of Directors of BYD Company Limited ("BYD"
+or the "Company") and its subsidiaries (collectively referred to as the
+"Group"), I hereby present the annual report of the Group for the year
+ended 31 December 2016 (the "Year").
+A Shares: 002594 (Shenzhen Stock Exchange)
+*****
+HE
+553,059
+(A joint stock company incorporated in the People's Republic of China with limited liability)
+BYD COMPANY LIMITED
+比亞迪股份有限公司
+BYD
+Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for
+the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim
+any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents
+of this announcement.
+Website: http://www.byd.com.cn
+Inventory turnover (days)
+484,020
+65,476
+103,518
+66,514
+151,365
+5,659
+Reconciliation to the Group's interest in the joint venture:
+Proportion of the Group's ownership
+50%
+50%
+Group's share of net assets of the joint venture, excluding goodwill
+19,600
+758,108
+669,358
+(19,600)
+(80,138)
+14,476
+589,220
+Revenue
+Other expense
+Interest income
+Depreciation and amortisation
+Interest expenses
+Total comprehensive loss for the year
+432,059
+Unrealised gain arising from transactions with the Group
+Carrying amount of the investment
+363,384
+(569,447)
+30%
+30%
+Power equipment maintenance;
+Electric vehicle charging
+infrastructure design;
+New energy, charging
+equipment technology
+development, consultation,
+transfer, and services
+30% Computer network platform
+software development and
+e-commerce; Network
+business services, database
+services, database
+RMB10,000,000 PRC/Mainland China
+management; Development of
+information consulting,
+technology transfer,
+technical services
+The following table illustrates the aggregate financial information of the Group's associates that are not individually material:
+2016
+RMB'000
+2015
+RMB'000
+Share of the associates' profit for the year
+Share of the associates' total comprehensive income
+Elimination of unrealised profit
+19,366
+(19,612)
+new energy charging
+technology, technology
+Shenzhen Yichong Technology
+Co., Ltd ("Yichong")
+20%
+20%
+RMB50,000,000
+PRC/Mainland China
+29%
+20%
+29%
+Operation Co., Ltd.
+("Hangzhou Xihu Operation”)
+Taxi service Electric vehicle
+rental Electric vehicle charging
+infrastructure
+Shenzhen Qianhai Green
+RMB20,000,000
+PRC/Mainland China
+19%
+29%
+19%
+Car rental Public transportation
+Transportation Co., Ltd.
+vehicle maintenance and repair
+("Qianhai Green Transportation")
+Shenzhen Chongdian Easy Co., Ltd
+("Chongdian Easy")
+RMB50,000,000 PRC/Mainland China
+19,366
+(19,612)
+(737)
+3,648
+Additions
+At 31 December
+2016
+RMB'000
+2015
+RMB'000
+684,950
+684,950
+684,950
+684,950
+229,611
+150,851
+6,682
+78,760
+236,293
+229,611
+921,243
+914,561
+Property under development expected to be recovered:
+After more than one year
+921,243
+914,561
+At the beginning of year
+Hangzhou Xihu New Energy Auto
+Development expenditure, at cost:
+At the beginning of year
+Aggregate carrying amount of the Group's investments in the associates
+493,599
+359,879
+98
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+20. Available-for-sale investments
+Listed equity investments, at fair value:
+Unlisted equity investments, at cost:
+2016
+RMB'000
+2015
+RMB'000
+3,206,386
+18,852
+3,036,215
+35,142
+3,225,238
+3,071,357
+As at 31 December 2016, certain unlisted equity investments with a carrying amount of RMB18,852,000 (2015: RMB35,142,000) were stated
+at cost less impairment because the range of reasonable fair value estimates is so significant that the directors are of the opinion that their fair
+value cannot be measured reliably. The Group does not intend to dispose of them in the near future.
+During the year, the gain in respect of the Group's available-for-sale investments recognised in other comprehensive income amounted to
+RMB127,629,000 (2015: RMB983,411,000), of which Nil (2015: Nil) was reclassified from other comprehensive income to the statement of
+profit or loss for the year.
+The above investments consist of investments in equity securities which were designated as available-for-sale financial assets and have no fixed
+maturity date or coupon rate.
+21. Property under development and completed property held for sale
+Land in Mainland China held under medium term leases, at cost:
+At 31 December
+sharing Principal activities
+power
+interest
+Goodwill on acquisition
+Provision for impairment
+Particulars of the Group's associates are as follows:
+2016
+2015
+RMB'000
+RMB'000
+1,338,714
+235,460
+131,238
+131,238
+(1,023)
+493,599
+366,698
+Name
+Particulars of
+registered
+capital held
+Place of
+registration
+and business
+Percentage of
+Ownership
+Voting
+Profit
+Shares of net assets
+interest
+19. Investments in associates
+1,751,159
+95
+96
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+18. Investments in joint ventures (continued)
+The following table illustrates the summarised aggregate financial information of the Group's joint ventures that are not individually material:
+2016
+2015
+RMB'000
+RMB'000
+Share of joint ventures' profit for the year
+(10,602)
+(29,588)
+Share of the joint ventures' total comprehensive income
+(10,602)
+(29,588)
+Elimination of unrealised profit
+1,285
+58,672
+Aggregate carrying amount of the Group's investments in the joint ventures
+819,179
+(1,299,514)
+power
+Tibet Zabuye Lithium Industry Co. Ltd
+("Zabuye Lithium")
+40%
+20%
+40%
+("Shenzhen Electric Power Sales")
+Electric power engineering Design,
+install, operation of electric
+vehicle charging infrastructure,
+and electricity selling
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+19. Investments in associates (Continued)
+31 December 2016
+97
+97
+Name
+Particulars of
+registered
+capital held
+Place of
+registration
+and business
+Percentage of
+Ownership
+Voting
+Profit
+Shenzhen Electric Power Sales Co., Ltd. RMB200,000,000 PRC/Mainland China
+sharing Principal activities
+("International Financial Lease")
+products
+RMB930,000,000 PRC/Mainland China
+18%
+18%
+18%
+Products of Lithium and Boron
+Mineral salt
+Shan Mei Ling Qiu Bi Xing Industry
+Development Co., Ltd.
+RMB10,000,000
+PRC/Mainland China
+20%
+20%
+20%
+Solar power Ecosystem
+remediation Agricultural
+("Shan Mei Ling Qiu Bi Xing")
+Shenzhen BYD International
+RMB400,000,000
+PRC/Mainland China
+30%
+33%
+30%
+Financial Lease Co., Ltd.
+Financial lease Financial lease
+advisory service
+39,201
+25%
+1,338,714
+6,561,350
+At 31 December 2016
+(1,607,975)
+(169,854)
+9
+9
+Exchange realignment
+(169,854)
+Impairment*
+(58,496)
+(736)
+(1,533)
+(1,547,210)
+Amortisation provided during the year
+84,195
+84,077
+11
+1,643
+1,985
+194,133
+6,759,111
+1,643
+6,561,350
+Net carrying amount at 31 December 2016
+(4,645,412)
+(275,942)
+(3,512)
+(170,463)
+107
+(4,195,495)
+11,404,523
+470,075
+5,497
+172,106
+10,756,845
+Cost
+At 31 December 2016:
+Accumulated amortisation and impairment
+1,985
+Additions acquired
+1,349,920
+Industrial
+17. Other intangible assets
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+92
+91
+The values assigned to key assumptions are consistent with external information sources.
+Raw materials price inflation - The basis used to determine the value assigned to raw materials price inflation is the forecast price index during
+the budget year.
+Discount rate - The discount rate used is before tax and reflects specific risks relating to the relevant unit.
+Budgeted gross margins – The basis used to determine the value assigned to the budgeted gross margins is the average gross margins
+achieved in the year immediately before the budget year, increased for expected efficiency improvements and expected market development.
+Assumptions were used in the value in use calculation of the automobiles and related products cash-generating unit for 31 December 2016
+and 31 December 2015. The following describes each key assumption on which management has based its cash flow projections to undertake
+impairment testing of goodwill.
+65,914
+65,914
+2015
+RMB'000
+Development
+proprietary
+costs
+RMB'000
+Additions internal development
+-
+7,102,816
+168,543
+2,710
+3,069
+6,928,494
+1,349,920
+amortisation and impairment
+31 December 2016
+Total
+RMB'000
+RMB'000
+RMB'000
+Software
+Know-how
+rights
+RMB'000
+Cost at 1 January 2016, net of accumulated
+194,133
+6,759,111
+31 December 2015
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+Shares of net assets
+18. Investments in joint ventures
+Deferred development costs are stated at cost less any impairment losses. The development costs are amortised using the straight-line basis
+over the commercial lives of the underlying products not exceeding five years, except for those of new energy vehicles which are amortised using
+the unit of production method, commencing from the date when the products are put into commercial production.
+An impairment provision of RMB169,854,000 was made to development costs related to the reportable segment of automobiles and related products in the year
+ended 31 December 2016. The economic performance of the item of development cost is worse than expected. The recoverable amount of the development costs in
+relation to particular projects is the value in use determined by the present value of the cash generating unit's estimated future cash flows. The discount rate used in
+the current estimate of value in use is 13%.
+7,102,816
+168,543
+2,710
+3,069
+6,928,494
+Net carrying amount at 31 December 2015
+(2,809,284)
+(264,374)
+9,912,100
+31 December 2016
+2016
+RMB'000
+2015
+RMB'000
+1,751,159
+RMB20,000,000 PRC/Mainland China
+Shenzhen Pengcheng Electric Car
+Principal activities
+Profit
+sharing
+power
+interest
+Percentage of
+Voting
+432,917
+Ownership
+Particulars of
+registered
+capital held
+Name
+Particulars of the Group's joint ventures are as follows:
+The Group's trade receivable balances due from and due to the joint ventures are disclosed in note 39(c) to the financial statements.
+1,522,017
+1,751,159
+1,522,017
+Place of
+registration
+and business
+8,963
+(6,253)
+(60,226)
+(2,478,431)
+63,897
+○ - 300 - 63,597
+6,306,965
+1,676,864
+150,544
+3,445
+6,620
+At 31 December 2015
+(56)
+Exchange realignment
+Disposal of a subsidiary
+Additions acquired
+1,676,864
+Additions - internal development
+6,146,356
+amortisation and impairment
+Cost at 1 January 2015, net of accumulated
+Amortisation provided during the year
+Impairment*
+RMB'000
+(56)
+(3,851)
+Accumulated amortisation and impairment
+63,295
+9,406,925
+Cost
+At 31 December 2015:
+7,102,816
+168,543
+(777,855)
+(116,871)
+2,710
+6,928,494
+13
+13
+(116,871)
+(827,996)
+(45,555)
+(735)
+3,069
+Automobiles and related products
+2016
+Carrying amount of goodwill
+The carrying amount of goodwill allocated to the cash-generating unit is as follows:
+853,152
+Transfers
+(4,485,620)
+(702,629)
+(65,100)
+(3,373,221)
+(5,989)
+(338,681)
+Depreciation provided during the year
+(218,232)
+(38,765)
+(19)
+(179,448)
+Disposals of a subsidiary
+(1,749,363)
+Exchange realignment
+582
+2,951,731
+(1,767)
+38,045
+Accumulated depreciation and impairment
+12,949,368
+Cost
+At 31 December 2015:
+38,126,333
+2,206,900 5,757,798
+314,019
+(81,904) (12,119)
+18,756,518
+11,082,131
+depreciation and impairment
+At 31 December 2015, net of accumulated
+184
+(316)
+1,685
+418,686 (4,261,614)
+8,967
+8,199,942
+6,364,617 36,379,422
+1,950,059
+661,769 3,666,914
+At 31 December 2014 and at 1 January 2015:
+Cost
+Total
+RMB'000
+Construction
+in progress
+RMB'000
+equipment
+and fixtures
+RMB'000
+vehicles
+RMB'000
+Motor
+Office
+12,062,597
+Machinery
+and
+equipment
+RMB'000
+31 December 2015
+As in 2014, the Group entered into sale and leaseback arrangement contracts with third-party leasing companies totalling RMB4,790,000,000,
+with contract terms ranging from three to five years. The substance of the arrangement is that the lessors provide finance to the Group with
+the asset as security. The Group continues to account for the assets in its consolidated statement of financial position. The sales proceeds are
+recorded as other borrowings in the consolidated statement of financial position. As at 31 December 2016, the aggregate book value of the
+assets is RMB3,207,115,000 and the balance of other borrowings amounted to RMB1,858,010,000, of which RMB971,848,000 is recorded
+as a current liability and RMB886,162,000 is recorded as a non-current liability on the Group's consolidated statement of financial position (note
+29(g)).
+At 31 December 2016, certain items of the Group's land and buildings with a net carrying amount of approximately RMB79,509,000 (2015:
+RMB75,506,000) were pledged to secure general banking facilities granted to the Group; and certain items of the Group's construction in
+progress with a net carrying amount of approximately RMB9,778,000 (2015: RMB9,153,000) were pledged to secure general banking facilities
+granted to the Group (note 29(a)).
+14. Property, plant and equipment (continued)
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+Freehold
+land and Leasehold
+buildings* improvements
+RMB'000 RMB'000
+(1,867,237)
+Accumulated depreciation and impairment
+61,785 30,354,982
+(21,791) (13,042,486)
+178,609
+170,629
+(9,830)
+39,994 17,312,496
+6,714 3,660,485
+(31,752) (1,613,758)
+Disposals
+33,431
+Additions
+10,533,647
+depreciation and impairment
+(1,528,950)
+At 1 January 2015, net of accumulated
+178,609 1,950,059
+17,312,496
+39,994
+10,533,647
+Net carrying amount
+6,364,617 53,857,034
+(17,477,612)
+306,145 4,706,908
+(127,536) (2,756,849)
+6,364,617 36,379,422
+45%
+27,622 33,550,787
+(18,655) (14,794,269)
+(20,146,561)
+Cost at 1 January 2016, net of accumulated impairment
+Impairment during the year
+Net carrying amount
+Accumulated impairment
+At 31 December 2015:
+Cost
+65,914
+Cost and net carrying amount at 31 December 2015
+65,914
+Cost at 1 January 2015, net of accumulated impairment
+Impairment during the year
+65,914
+Net carrying amount
+(9,671)
+75,585
+Accumulated impairment
+Cost
+At 1 January 2015:
+Cost and net carrying amount at 31 December 2016
+At 31 December 2016:
+Cost
+Accumulated impairment
+The recoverable amount of the automobiles and related products cash-generating unit has been determined based on a value in use calculation
+using cash flow projections based on financial budgets covering a five-year period approved by senior management. The discount rate applied to
+the cash flow projections is 13% (2015: 13%). The growth rate used to extrapolate the cash flows of the automobiles and related products cash
+- generating unit beyond the five-year period is 3% (2015: 3%), which is less than the long term average growth rate of the automobile industry.
+Goodwill acquired through business combinations is allocated to the automobiles and related products cash-generating unit, which is a
+reportable segment, for impairment testing:
+Impairment testing of goodwill
+16. Goodwill (continued)
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+RMB'000
+65,914
+75,585
+65,914
+65,914
+65,914
+(9,671)
+75,585
+Net carrying amount
+(9,671)
+16. Goodwill
+As at 31 December 2016, the Group was still in the process of obtaining the land use right certificates for certain parcels of leasehold land with
+a carrying amount of RMB503,049,000 (2015: RMB71,629,000). In the opinion of the directors, there is no major barrier for the Group to obtain
+the land use right certificates.
+4,655,610
+Disposal
+Additions
+Carrying amount at 1 January
+15. Prepaid land lease payments
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+Recognised during the year
+90
+38,126,333
+5,757,798
+314,019 2,206,900
+18,756,518
+8,967
+11,082,131
+Net carrying amount
+89
+470,540 5,516,779 5,757,798 58,272,894
+(156,521) (3,309,879)
+Exchange realignment
+Current portion included in prepayments, deposits and other receivables
+5,182,739
+(107,476)
+(113,721)
+4,763,086
+5,296,460
+(190)
+1,057
+Carrying amount at 31 December
+(103,001)
+(4,745)
+321,843
+4,549,179
+4,763,086
+643,086
+2015
+RMB'000
+2016
+RMB'000
+Non-current portion
+(110,769)
+40%
+45%
+Taxi business, advertising and
+development,technical
+services and advice
+Auto financing lease, auto loan,
+issuance of financial bonds,
+car finance consulting
+agency
+Hubei Energy Storage Co. Ltd.
+("Hubei Energy Storage")
+RMB100,000,000
+internet technology
+PRC/Mainland China
+60%
+55%
+storage
+Xi'an Infrastructure Yadi Automobile
+service Co., Ltd
+RMB10,000,000 PRC/Mainland China
+40%
+40%
+55%*
+New energy vehicle technology,
+and agency
+export storage, technologies
+49%
+Production and sale for special-
+Hangzhou BYD Xihu New Energy Auto
+RMB100,000,000
+PRC/Mainland China
+49%
+40%
+39,201
+49%
+Co., Ltd. ("Hangzhou BYD Xihu Auto")
+BYD Auto Finance Company Limited
+("BYD Auto Finance")
+RMB1,500,000,000
+PRC/Mainland China
+80%*
+80%
+80%
+used vehicles, import and
+40%
+Automobile and parts sales;
+Automobile maintenance
+("Xi'an Infrastructure")
+1,724,043
+Other current liabilities
+Financial liabilities, excluding trade and other payables
+Non-current assets, excluding goodwill
+1,468,813
+1,390,108
+843,195
+1,062,012
+625,618
+Net assets, excluding goodwill
+328,096
+2015
+RMB'000
+RMB'000
+2016
+Current assets
+Other current assets
+Cash and cash equivalents
+2,402,268
+40%
+337,716
+1,252,234
+**
+According to the articles of association of these investees, board resolution requires unanimous consent of two-thirds majority all board of directors. Thus, the Group
+does not have control even though the Group's ownership interests in these investees are greater than 50%.
+At 7 November 2016, Shenzhen BYD Daimler New Technology Co., Ltd, officially changed its name to Shenzhen Denza New Energy Automotive Co., Ltd.
+DENZA, which is considered a material joint venture of the Group, is a strategic partner of the Group primarily engaged in the research and
+development and sales of automobile products and is accounted for using the equity method.
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+18. Investments in joint ventures (continued)
+31 December 2016
+The following table illustrates the summarised financial information in respect of DENZA adjusted for any differences in accounting policies, and
+reconciled to the carrying amount in the consolidated financial statements.
+Net assets
+1,324,161
+1,485,000
+Non-current financial liabilities, excluding trade and other payables
+1,208,206
+1,589,950
+Current liabilities
+996,806
+211,400
+49%
+Investment, operation of energy
+RMB100,000,000
+RMB20,000,000
+PRC/Mainland China
+60%*
+60%
+60%
+Taxi business and rental of
+Rental Company Limited
+electric vehicles
+("Jiangnan Chuzu")
+Shenzhen BYD Electric Car
+RMB10,000,000
+PRC/Mainland China
+50%
+60%
+50%
+New energy investment and the
+Investment Co., Ltd.
+Nanjing Jiangnan Electric Car
+("BYD Electric Car")
+automobiles and coaches
+50%
+Rental Company Limited
+rental of electric vehicles
+("Pengcheng Chuzu")
+Shenzhen Denza New Energy
+RMB2,360,000,000
+PRC/Mainland China
+50%
+50%
+50%
+Research, development and
+Automotive Co., Ltd. ("DENZA")**
+PRC/Mainland China
+Tianjin BYD Automobile Company
+Limited ("Tianjin BYD")
+RMB350,000,000
+PRC/Mainland China
+50%
+50%
+Assembly and sale of
+establishment of industrial
+sale of automobiles
+Guangzhou Guang Qi BYD New
+94
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+18. Investments in joint ventures (continued)
+Name
+Particulars of
+registered
+capital held
+Place of
+registration
+Ownership
+Percentage of
+Voting
+and business
+interest
+power
+sharing
+Principal activities
+electric vehicle industry
+Beijing Hualin Loading Co., Ltd
+("Beijing Hualin")
+93
+and sales
+Profit
+automobiles
+PRC/Mainland China
+Electric car and fuel car rental
+51%*
+50%
+Manufacturing and design of
+Energy Bus Co., Ltd.
+("Guang Qi BYD")
+Shenzhen Didi New Energy Auto
+51%
+PRC/Mainland China
+and manufacture of
+auto parts and accessories
+RMB140,000,000
+Lease Co.,Ltd. ("Shenzhen Didi")
+60%
+RMB300,000,000
+66.67%
+60%*
+RMB'000
+Fair value adjustments
+arising from available-
+for-sale investments
+The movements in deferred tax liabilities and assets during the year are as follows:
+31. Deferred tax
+Fair value adjustment
+arising from derivative
+financial instruments
+RMB'000
+The Group provides warranties on automobiles and the undertaking to repair or replace items that fail to perform satisfactorily. The amount of the
+provision for the warranties is estimated based on sales volumes and past experience of the level of repairs and returns. The estimation basis is
+reviewed on an ongoing basis and revised where appropriate.
+778,577
+1,292,666
+(351,932)
+Deferred tax payment
+arising from disposal
+of a subsidiary
+(599,002)
+722,128
+Deferred tax liabilities
+Additional provision
+778,577
+2015
+RMB'000
+Product warranties
+2016
+RMB'000
+At 31 December
+Amounts utilised during the year
+At 1 January
+Group
+30. Provision
+As in 2014, the Group entered into sale and leaseback arrangement contracts with third-party leasing companies totalling RMB4,790,000,000, with contract terms
+ranging from three to five years. The substance of the arrangement is that the lessors provide finance to the Group with the asset as security. The Group continues
+to account for the assets in its consolidated statement of financial position. The sales proceeds are recorded as other borrowings in the consolidated statement
+of financial position. As at 31 December 2016, the aggregate book value of the assets is RMB3,207,115,000 and the balance of other borrowings amounted
+to RMB1,858,010,000, of which RMB971,848,000 is recorded as a current liability and RMB886,162,000 is recorded as a non-current liability on the Group's
+consolidated statement of financial position.
+On 12 August 2015, the Company issued RMB denominated 1,500,000,000 corporate bonds. The bonds have a maturity of three years due in 2018, and bear a fixed
+interest rate of 4.1% per annum from and including 12 August 2015 payable annually. In addition, the bonds were unsecured with simple interest rate. The bonds
+were listed on the Shenzhen Stock Exchange on 10 August 2015.
+Total
+On 23 September 2013, the Company issued RMB denominated 3,000,000,000 corporate bonds. The bonds have a maturity of five years due in 2018, and bear a
+fixed interest rate of 6.35% per annum from and including 23 September 2013 payable annually. Investors have the right to sell back all or part of their bonds at par
+value to the Company on the third interest payment date (23 September 2016), or release the investor sell-back option. On 23 September 2016 certain investors sell
+back 700,000 corporate bonds to the company, and the maturity of the bonds is fixed to 23 September 2018. The bonds were listed on the Shenzhen Stock Exchange
+on 15 November 2013.
+408,381
+RMB'000
+108
+At 1 January 2016
+(g)
+Accruals and
+profits from
+in excess of
+Unrealised
+Depreciation
+Deferred tax assets
+31. Deferred tax (continued)
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+107
+549,903
+179,557
+370,346
+At 31 December 2016
+Gross deferred tax liabilities
+42,542
+42,542
+(60,788)
+(59,852)
+(936)
+Deferred tax debited to the statement of profit or loss during the year
+Deferred tax debited to equity during the year
+568,149
+239,409
+936
+327,804
+RMB'000
+(f)
+4.1-6.35
+Notes (continued):
+4,490,584
+4.1-5.25
+(d) & (f)
+4,483,946
+9,338,520
+11,229,901
+42,266,961
+37,642,761
+(d) & (f)
+106
+Notes to Financial Statements
+31 December 2016
+29. Interest-bearing bank and other borrowings (continued)
+Analysed into:
+Bank loans repayable:
+Within one year
+In the second year
+In the third to fifth years, inclusive
+BYD Company Limited Annual Report 2016
+Corporate bonds-unsecured
+6,745,955
+4,847,936
+depreciation
+Bank loans unsecured
+3.35-4.75
+2019
+986,284
+2.65-6.3
+2025
+1,825,669
+LIBOR+280-350bps
+2018
+200,000 LIBOR+280-350bps
+2018
+1,111,773
+Other borrowings-secured
+5.44-5.84
+886,163
+5.44-5.84
+(g)
+1,862,684
+Beyond five years
+Corporate bonds
+Within one year (note (d))
+In the second year (note (e)&(f))
+7,487,364
+7,477,227
+42,266,961
+37,642,761
+mortgages over certain of the Group's land and buildings, which had an aggregate carrying value at the end of the reporting period of approximately
+RMB79,509,000 (2015: RMB75,506,000) (note 14);
+mortgages over certain of the Group's construction in progress, which had an aggregate carrying value at the end of the reporting period of approximately
+RMB9,778,000 (2015: RMB9,153,000) (note 14);
+(iii)
+floating charges over certain of the Group's inventory bills totalling Nil (2015: RMB89,878,000) (note 22);
+In addition, the Company has guaranteed certain of the Group's bank loans of up to RMB24,365,908,000 (2015: RMB16,047,517,000) as at the end of the reporting
+period.
+(b)
+The carrying amounts of the Group's and the Company's bank borrowings approximate to their fair values.
+(c)
+(d)
+Except for bank loans of RMB873,277,000 (2015: RMB2,956,233,000) and RMB153,264,000 (2015: RMB148,826,000) which are denominated in United States
+dollars and Euro respectively, all borrowings are in RMB.
+On 19 June 2012, the company issued RMB denominated 3,000,000,000 corporate bonds. The bonds have a maturity of five years due in 2017, and bear a fixed
+interest rate of 5.25% per annum from and including 19 June 2012 payable annually. Investors have the right to sell back all or part of their bonds at par value to
+the Company on the third interest payment date (19 June 2015), or release the investor sell-back option. Due to investors did not exercise the option to sell back the
+bonds after the third interest payment date, the maturity date of the bonds is fixed to 19 June 2017, therefore, the bonds were reclassified as bonds payable due in
+one year on 31 December 2016. The bonds were listed on the Shenzhen Stock Exchange on 16 July 2012.
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+29. Interest-bearing bank and other borrowings (continued)
+31 December 2016
+1,493,265
+(e)
+2,990,681
+2,993,281
+In the third to fifth years
+Notes:
+(a)
+Certain of the Group's bank loans are secured by:
+(i)
+(ii)
+2016
+RMB'000
+2015
+RMB'000
+29,931,661
+23,419,579
+2,941,380
+4,576,911
+943,380
+1,854,611
+963,176
+314,433
+34,779,597
+30,165,534
+2,996,780
+4,490,584
+1,113,091
+2015
+RMB'000
+2019
+The individually impaired trade receivables relate to customers that were in financial difficulties or were in default in both interest and/or principal
+payments and only a portion of the receivables is expected to be recovered.
+The aged analysis of the trade and bills receivables that are not individually nor collectively considered to be impaired is as follows:
+Neither past due nor impaired
+Less than one years past due
+One to two years past due
+2016
+RMB'000
+2015
+Included in the above provision for impairment of trade receivables is a provision for individually impaired trade receivables of RMB505,556,000
+(2015: RMB486,100,000) with a carrying amount before provision of RMB783,061,000 (2015: RMB800,016,000).
+RMB'000
+24,572,076
+1,691,008
+101,639
+45,455,380
+26,364,723
+Receivables that were neither past due nor impaired relate to a large number of diversified customers for whom there was no recent history of
+default.
+Receivables that were past due but not impaired relate to a number of independent customers that have a good track record with the Group.
+Based on past experience, the directors of the Company are of the opinion that no provision for impairment is necessary in respect of these
+balances as there has not been any significant change in credit quality and the balances are still considered fully recoverable.
+101
+102
+43,635,353
+1,702,560
+117,467
+486,100
+505,556
+(81)
+At the beginning of year
+Completed property held for sale, at cost:
+2015
+RMB'000
+2016
+RMB'000
+21. Property under development and completed property held for sale (continued)
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+486,100
+291,660
+124,083
+234,658
+(86,108)
+(35,208)
+(18,636)
+(4,929)
+117
+BYD Company Limited Annual Report 2016
+56,038
+Notes to Financial Statements
+24. PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES
+83,546
+54,392
+4,635,440
+3,280,091
+At 31 December 2016, an impairment loss of RMB149,478,000 (2015: RMB149,635,000) has been provided against deposits of RMB149,478,000 paid to two
+suppliers (2015: RMB149,635,000).
+Expect for the two suppliers aforementioned, none of the financial assets included in the above balances is past due. The financial
+assets included in the above balances relate to receivables for which there was no recent history of default, except for the two suppliers
+aforementioned.
+BYD Company Limited Annual Report 2016
+334,438
+Notes to Financial Statements
+25. Cash and cash equivalents, restricted bank deposits and short term deposits
+Notes
+2016
+RMB'000
+2015
+RMB'000
+Cash and bank balances
+Time deposits
+Less: Restricted bank deposits
+31 December 2016
+319,666
+2,891,261
+4,232,228
+2016
+RMB'000
+2015
+RMB'000
+Non-current portion
+Prepayment for items of property, plant and equipment
+4,567,407
+3,997,044
+4,567,407
+3,997,044
+Current portion
+Deposits and other receivables
+Impairment*
+Prepayments
+Loans to staff
+4,381,706
+3,040,896
+(149,478)
+(149,635)
+31 December 2016
+Short-term deposits
+67,729
+6,783
+2015
+RMB'000
+2016
+RMB'000
+The government subsidies of new energy automobiles sales are included in the above trade receivables.
+Over one year
+Seven months to one year
+Four to six months
+Within three months
+21,630,073
+The aged analysis of the trade and bills receivables as at the end of the reporting period, based on the invoice date and net of provisions, is as
+follows:
+For sales under other segments, the Group's trading terms with its customers are mainly on credit, except for new customers, where payment in
+advance is normally required. The credit period is generally one to three months. Each customer has a maximum credit limit.
+For sales of traditional fuel-engined automobiles, payment in advance, mainly in the form of bank bills, is normally required. For sales of
+new energy automobiles, the Group generally provides the customers with a credit period of one to twelve months or allow the customers to
+make instalment payment in twelve to twenty-four months. For retention receivables, the due date usually ranges from one to five years after
+acceptance of the vehicles by the customers.
+26,678,639
+45,732,885
+(486,100)
+(505,556)
+6,798,810
+The Group seeks to maintain strict control over its outstanding receivables and has a credit control department to minimise credit risk. Overdue
+balances are reviewed regularly by senior management. At the end of the reporting period, the Group had certain concentrations of credit
+risk as 8% (2015: 18%) and 24% (2015: 31%) of the Group's trade receivables were due from the Group's largest customer and the five
+largest customers respectively. The Group does not hold any collateral or other credit enhancements over its trade receivable balances. Trade
+receivables are non-interest-bearing.
+22,185,206
+9,066,113
+2,268,121
+2016
+RMB'000
+31 December 2016
+At 31 December
+Amount written off as uncollectible
+Exchange realignments
+Impairment losses recognized (note 6)
+Impairment losses reversed (note 6)
+At 1 January
+The movements in provision for impairment of trade and bills receivables are as follows:
+At 31 December 2016, there were no bills receivable pledged to secure the Group's bank loans (2015: Nil).
+23. Trade and bills receivables (continued)
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+26,678,639
+45,732,885
+905,073
+6,448,179
+1,320,239
+8,588,520
+6,362,378
+Additions
+20,365,929
+2015
+RMB'000
+2016
+RMB'000
+Moulds held for production
+Finished goods
+Work in progress
+Raw materials
+22. Inventories
+56,038
+2015
+RMB'000
+33,840
+(9,509)
+(19,558)
+Recognised in the statement of profit or loss (note 5)
+(64,047)
+(9,423)
+Other transfers
+61,865
+At 31 December
+3,429,247
+3,694,244
+6,350,115
+2016
+RMB'000
+Bills receivable
+Impairment
+Trade receivables
+23. Trade and bills receivables
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+100
+99
+15,750,550
+At 31 December 2016, there were no inventories (2015: RMB89,878,000) of the Group pledged as security for Group's bank loans.
+17,378,439
+856,363
+535,385
+5,264,831
+7,063,692
+5,935,112
+39,876,063
+Pledged deposits
+Cash and cash equivalents
+7,446,306
+247,360
+13,209,248
+Bank loans - unsecured
+4.09-4.35
+2017
+4,642,389
+4.35-5.6
+2016
+2016
+4,870,752
+2017
+577,611 LIBOR+100-280bps
+2016
+1,863,800
+Current portion of long term
+bank loans - secured
+3.60-4.89
+LIBOR+100-170bps
+3.92-5.88
+19,789,611
+2017
+BYD Company Limited Annual Report 2016 105
+Notes to Financial Statements
+29. Interest-bearing bank and other borrowings
+31 December 2016
+2016
+2015
+Effective
+interest rate
+Effective
+interest rate
+(%)
+Maturity
+RMB'000
+(%)
+Maturity
+RMB'000
+Current
+Bank loans - secured
+3.92-4.35
+2017
+Various government grants have been received for basic research and development activities. Government grants received for which related
+expenditure has not yet been undertaken are included in deferred income in the statement of financial position. A certain grant received relates
+to an asset is also credited to deferred income and is released to the statement of profit or loss over the expected useful life of the relevant asset
+by equal annual instalments.
+2,066,888
+2016
+6.35
+2,993,281
+Non-current
+32,928,441
+26,412,860
+Bank loans secured
+4.28-4.90
+2,996,780
+2030
+3.25-6.3
+2030
+1,816,343
+LIBOR+550bps
+2018
+26,667
+LIBOR+550bps
+2,748,822
+5.25
+Corporate bonds-unsecured
+23,419,579
+1,034,011
+Current portion of long term
+bank loans - unsecured
+2.65-4.75
+2017
+1,883,314
+3.38-6.45
+2016
+1,345,210
+Current portion of other
+borrowings - secured
+5.44-5.84
+(g)
+971,848
+5.44-5.84
+1,096,558
+29,931,661
+3.25-6.3
+1,546,108
+1,454,710
+(155,629)
+104
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+26. Trade and bills payables
+An aged analysis of the trade and bills payables as at the end of the reporting period, based on the invoice date, is as follows:
+Within three months
+103
+Three to six months
+One to two years
+Two to three years
+Over three years
+The trade payables are non-interest-bearing and are normally settled within terms of 30 to 120 days.
+27. Other payables
+Other payables
+Accrued payroll
+Six months to one year
+Cash at banks earns interest at floating rates based on daily bank deposit rates. Most of the bank balances and pledged deposits are deposited with creditworthy
+banks with no recent history of default.
+The weighted average effective interest rate for the short-term deposits of the Group with an initial term of three to six months for the year ended 31 December 2016
+was 1.92% (2015: 1.61%). The carrying value of the short term deposits with an initial term of three to six months approximated to their fair value as at 31 December
+2016. Short-term deposits with an initial term of three to six months were denominated in RMB and were neither past due nor impaired.
+At the end of the reporting period, cash and cash equivalents of the Group denominated in Renminbi ("RMB") amounted to RMB4,748,662,000 (2015:
+RMB4,814,745,000). The RMB is not freely convertible into other currencies. However, under Mainland China's Foreign Exchange Control Regulations and
+Administration of Settlement, Sale and Payment of Foreign Exchange Regulations, the Group is permitted to exchange RMB for other currencies through banks
+authorised to conduct foreign exchange business.
+6,249,709
+346,717
+7,693,666
+6,596,426
+(247,360)
+(268,600)
+(i)
+(335,072)
+(316,895)
+(ii)
+7,111,234
+6,010,931
+Notes:
+(i)
+(ii)
+(iv)
+At 31 December 2016, the pledged bank deposit of RMB335,072,000 (2015: RMB316,895,000) was pledged for bank acceptance bills of RMB217,836,000 (2015:
+RMB226,876,000), letter of credit of RMB51,016,000 (2015: RMB8,021,000) and various projects as required of RMB66,220,000 (2015: RMB81,998,000).
+Other payables are non-interest-bearing and have an average term of three months.
+28. Deferred income
+At 1 January
+Received during the year
+2,950,439
+2,438,661
+2,978,565
+2,118,495
+5,929,004
+4,557,156
+2016
+RMB'000
+2015
+RMB'000
+1,701,737
+1,256,427
+767,302
+604,592
+(595,061)
+(159,282)
+1,873,978
+1,701,737
+(419,268)
+2015
+RMB'000
+129,486
+2016
+RMB'000
+34,663,130
+Released to the statement of profit or loss
+At 31 December
+Less: Portion classified as current liabilities
+Non-current portion
+2016
+RMB'000
+Impairment
+allowance of inventories
+25,797,936
+8,138,114
+23,008,789
+7,353,079
+528,055
+114,698
+97,624
+67,591
+15,776
+36,156
+85,625
+75,517
+30,655,830
+Government intercompany
+RMB'000
+Unpaid
+payable not
+(5,432)
+(46)
+(1,494)
+(332)
+(3,560)
+2015
+Disposal of subsidiary in year
+120,362
+1,947
+357,900
+29,569
+79,399
+55,721
+685
+(4,015)
+during the year
+to the statement of profit or loss
+Deferred tax credited/(debited)
+965,486
+14,632
+(42,944)
+66,857
+43,084
+121,705
+provision for
+2015
+Deferred tax assets have not been recognised in respect of the above items as it is not considered probable that taxable profits will be available
+against which the above items can be utilised.
+2,803,841
+3,781,493
+1,722,015
+2,516,994
+1,081,826
+1,264,499
+227,362
+2015
+RMB'000
+Deductible temporary differences
+Tax losses
+Deferred tax assets have not been recognised in respect of the following items:
+The Group has accumulated tax losses arising in Mainland China of RMB1,139,989,000 (2015: RMB1,030,274,000) that will expire in one
+to five years for offsetting against future taxable profits. The Group has a tax loss of RMB124,510,000 (2015: RMB51,552,000) arising from
+other jurisdictions that will expire in one to eight years for offsetting against future taxable profits. Deferred tax assets have not been recognised
+in respect of these losses as they have arisen in subsidiaries that have been loss-making for some time and it is not considered probable that
+taxable profits will be available against which the tax losses can be utilised.
+The Group has recognised the deferred tax assets related to tax losses arising in Mainland China of RMB309,046,000 (2015: RMB522,213,000)
+that will expire in one to five years for offsetting against future taxable profits.
+1,080,416
+16,533
+96,426
+217,406
+2016
+RMB'000
+261,844
+At 31 December 2015
+171,641
+16,533
+96,426
+217,406
+121,705
+227,362
+43,084
+357,900
+RMB'000
+RMB'000
+1,080,416
+RMB'000
+RMB'000
+RMB'000
+RMB'000
+RMB'000
+Total
+reversed
+Tax losses
+42,306
+warranties
+RMB'000
+Deferred tax credited/(debited)
+At 1 January 2016
+grants transactions
+365,475
+to the statement of profit or loss
+At 1 January 2015
+1,448,262
+49,347
+342,740
+209,505
+51,181
+532,275
+At 31 December 2016
+263,214
+(16,533)
+367,846
+174,375
+8,097
+(17,857)
+during the year
+125,334
+(47,079)
+141,509
+42,731
+282
+645,555
+(viii)
+Purchase of products and service from Electronic Components
+Purchase of products and service from Beijing Easpring Technology
+128,804
+65,354
+(xii)
+Purchase of products and service from Cangzhou Mingzhu
+103
+249,664
+4,991
+(xi)
+(x)
+(ix)
+Purchase of products and service from Northern Qinchuan
+Sales of products and service to Saidi New Energy
+419,601
+259,500
+2,125
+(xiii)
+The sales of products to Shenzhen Ramos Digital Technology Co., LTD ("Ramos Digital"), a company of which an Non-executive Director of the Company was
+the chairman of the board in the past twelve months, were made according to the published prices offered by Ramos Digital to its other customers;
+65,133
+(viii)
+BYD Company Limited Annual Report 2016
+(vii)
+The purchase of products and service from the joint ventures and associates were made according to the published prices offered by the joint ventures to their
+other customers;
+(vi)
+The rental expense was charged at prices mutually agreed between the Group and the associate;
+(v)
+The service income was received at prices mutually agreed between the Group and the joint ventures and associates;
+(iv)
+The sales of raw materials to the joint ventures and associates were made according to the published prices offered to other customers of the Group;
+(iii)
+The sales of machinery and equipment to an associate were charged at prices mutually agreed between the Group and the associate;
+(ii)
+The sales of products to the joint ventures and associates were made according to the published prices offered to other customers of the Group;
+(i)
+Notes:
+145,559
+(xiv)
+14,468
+(x)
+Purchase of products and service from Saidi New Energy
+Purchase of products and service from Mingzhu Plastics
+2,241
+71,773
+Contracted, but not provided for:
+(vii)
+Joint ventures and associates:
+2015
+RMB'000
+2016
+RMB'000
+Notes
+(a) In addition to the transactions detailed elsewhere in these financial statements, the Group had the following transactions with related
+parties during the year:
+39. Related party transactions
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+Sales of products
+116
+44,000
+162,520
+44,000
+47,395
+2015
+RMB'000
+2016
+RMB'000
+Capital contribution payable to joint ventures
+Notes to Financial Statements
+In addition, the Group's share of the joint ventures' own capital commitments, which are not included in the above, is as follows:
+209,915
+Sales of machinery and equipment
+Sales of raw materials
+Service income
+72,556
+240,171
+(vi)
+319,642
+299,824
+(v)
+151,012
+47,789
+(iv)
+8,118
+14,761
+171,149
+(ii)
+2,287,819
+3,185,362
+(i)
+Sales of products and service to Zhongbei Didi
+Sales of products and service to Electronic Component
+Sales of products to Romos Digital
+Purchases of products and service
+Rental expense
+7,331
+31 December 2016
+Jiangnan Chuzu
+(a) In addition to the transactions detailed elsewhere in these financial statements, the Group had the following transactions with related
+parties during the year: (continued)
+Shenzhen Didi
+19,985
+516,117
+Guang Qi BYD
+629,356
+141,749
+Hangzhou BYD Xihu Auto
+56
+114
+46,956
+3
+123,827
+6,083
+10,000
+10,000
+BYD Auto Finance
+Qianhai Green Transportation
+International Financial Lease
+BYD Electric Car
+Shan Mei Ling Qiu Bi Xing
+89,992
+1,850
+Beijing Hualin
+2,299
+21,418
+8,165
+308,749
+6111
+249
+RMB'000
+2016
+Yinghe Technology
+Holitech
+Ramos Digital
+Electronic Components
+The amounts due from other related parties:
+1,800,859
+2,879,284
+825,000
+Xi'an Infrastructure
+2,988
+Adrastea Cars Ltd
+4,716
+Shenzhen Electric Power Sales
+17,670
+4,247
+39. Related party transactions (continued)
+5,500
+71
+Repurchase Guarantee
+(ii) As at 31 December 2016, the Company provided a guarantee to the bank for the borrowing of BYD Auto Finance amounting to
+RMB2,560,000,000 (31 December 2015: 360,000,000).
+As at 31 December 2016, the Company provided a guarantee to the bank for the borrowing of DENZA New Energy amounting to
+RMB742,500,000 (31 December 2015: 662,080,000).
+(i)
+Loan Guarantees
+Guarantees provided to related parties:
+The purchase of products and service from Mingzhu Plastics, a company of which an independent non-executive director of the Company is the independent
+director of the board, was made according to the published prices offered by Mingzhu Plastics to its other customers;
+The purchase of products and service from Beijing Easpring Material Technology Co., Ltd. ("Easpring Technology"), a company of which an independent
+non-executive director of the Company is the independent director of the board, was made according to the published prices offered by Easpring Technology to
+its other customers;
+The purchase of products and service from Cangzhou Mingzhu Company Ltd. ("Cangzhou Mingzhu"), which is the subsidiary of the related party "Mingzhu
+Plastics", was made according to the published prices offered by Cangzhou Mingzhu to its other customers;
+The Group entered into a tri-lateral finance lease cooperation contract ("Lease Cooperation Contract") with related parties and International
+Finance Lease. Under the leasing arrangement, the Group provides a repurchase guarantee to International Finance Lease. The term of the
+repurchase guarantee coincides with the tenure of the lease contract. In the event of the default of related parties, the Group is required
+to make payment to International Finance Lease for its share of the outstanding lease payment due from related parties. Management
+believes that the repossessed vehicles will be able to be sold for proceeds that are not significantly different from the amount of guarantee
+payments. At the same time, the Group is entitled to repossess and sell the leased new energy vehicle, and retain any net proceeds in
+excess of the guarantee payments made to International Finance Lease. As of 31 December 2016, there was no default of payments from
+end-user customers which required the Group to make any payment.
+The purchase of products and service from Xi'an Northern Qinchuan Company Ltd. ("Northern Qinchuan"), a company of which a supervisor of the Company is
+the chairman of the board, was made according to the published prices offered by Northern Qinchuan to its other customers;
+(xiv)
+(xiii)
+(xii)
+(xi)
+(x)
+The sales of products and service to Zhongbei Didi, a company of which an executive of the Company is the chairman of the board, were made according to
+the published prices offered by Zhongbei Didi to its other customers;
+(ix)
+The sales of products and service from Electronic Components, a company of which executives of the Company were the chairman and director of the board in
+the past twelve months, were made according to the published prices offered to the other customers of the Group; the purchase of products and service from
+Electronic Components was made according to the published prices offered by Electronic Components to its other customers;
+(viii)
+The sales of products and service to Saidi New Energy, a company of which an executive of the Company is the director of the board, were made according to
+the published prices offered by Shenzhen Saidi to its other customers; the purchase of products and service from Saidi New Energy was made according to the
+published prices offered by Saidi New Energy;
+(iii) As at 31 December 2016, the Group's maximum exposure of guarantees to Shenzhen Didi and its subsidiary was RMB433,716,000
+(31 December 2015: nil).
+(iv) As at 31 December 2016, the Group's maximum exposure of guarantees to Jiangnan Chuzu was RMB45,057,000 (31 December
+2015: 56,896,000).
+117
+2,239
+In November 2015, LDK PV and LDK Solar commenced restructuring procedures and the Company has filed claims under the restructuring procedures of
+the two companies in accordance with law. On 30 September 2016, the Intermediate People's Court of Xinyu City, Jiangxi Province, approved the draft of
+composition plan for LDK Photovoltaic Silicon Technology and LDK Solar Energy, and the composition plan formally entered a stage of implementation. The
+settlement percentage of the Company's debt as one of LDK Photovoltaic Silicon Technology's ordinary creditors amounted to 11.49% by way of conversion
+of debts into equity, while that of the Company's debt as one of LDK Solar Energy's ordinary creditors amounted to 6.62% by way of conversion of debts into
+equity, pending on the approval from China Securities Regulatory Commission. As of 31 December, 2016, the Company provided the receivers of LDKPV and
+LDK Solar with relevant information according to requirements of the composition plan, and the Company's debt will be settled according to the composition
+plan after implementation of such plan.
+7,396
+Pengcheng Chuzu
+581,269
+646,385
+Tianjin BYD
+440,280
+543,995
+DENZA
+The amount due from joint ventures and associates:
+RMB'000
+RMB'000
+2015
+2016
+(c) Outstanding balances with related parties:
+39. Related party transactions (continued)
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+118
+Hangzhou Xihu Operation
+In December 2012, Shangluo BYD entered into a supplemental agreement I to the Supply Contract with LDKPV and LDK Solar. The supplemental agreement I
+provides that the performance period under the Supply Contract will be extended for a period of one year to 31 December 2013. In February 2015, Shangluo
+BYD, BYD Lithium Batteries Co., Ltd ("BYD Lithium Batteries") and BYD Supply Chain Management Co., Ltd ("BYD Supply Chain Management") entered into a
+supplemental agreement II to the Supply Contract with the Vendors. The supplemental agreement II provides that the contracting parties agree to extend the
+performance period under the original Supply Contract for a period of five years to 31 December 2018; the parties of the Supply Contract were expanded as
+follows: the Purchasers include Shangluo BYD, BYD Lithium Batteries and BYD Supply Chain Management, the Vendors include LDKPV and LDK Solar; the
+original deposits payable by Shangluo BYD under the Supply Contract (namely RMB97,500,000) will be changed to prepayments payable by all Purchasers to
+all Vendors, and when the Purchasers buy from the Vendors, the payables to the Vendors could be deducted from the prepayment already paid by Shangluo
+BYD. According to both supplemental agreement I and the supplemental agreement II, the Purchaser shall not pursue a claim against the Vendors for
+unfulfilled and unfinished delivery obligations and the Vendors shall not pursue a claim against the Purchaser for unfinished purchases or payment obligations
+during the term of the agreement.
+As lessor (continued)
+Long-term purchase commitments for polysilicon materials
+Accruals and other payables
+Trade and bills payables
+Other non-current assets
+Prepayments, deposits and other receivables
+Property, plant and equipment
+Net assets disposed of:
+35. Disposal of a subsidiary
+These perpetual loans do not have specific maturity. The Company has the right to defer interests or to redeem the notes. The Company does
+not have the contractual obligation to deliver cash or other financial assets to other parties. So the perpetual loans are recognised as an equity.
+The interest paid on the perpetual loans in 2016 was RMB185,155,000 (note 12).
+the borrower reduces registered capital.
+Loss on disposal of a subsidiary
+.
+•
+The issuer shall not defer the interest payment of the interest accrual period and all the interest and the underlying yields that were deferred
+according to the Investment Agreement and the contractual agreement if any of the followings occurs within 12 months before the interest
+payment date:
+34. Perpetual loans (continued)
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+Unless mandatory interest payment event happens, before each of the interest payment date of medium-term notes, the issuer can choose to
+have the current interest and all the deferred interest to be paid at the next interest payment date, which is not subject to any restrictions on the
+number of deferred interest payments. The foregoing deferred interest payment does not constitute the issuer's default to pay the interest in full
+according to the contract. In the event that the issuer decides to defer the interest payments, the issuer and the related agency shall disclose
+such arrangement in an announcement of deferred interest payments five days before the interest payment date.
+In 2016, the Company issued medium term notes at par of RMB200 million and RMB400 million on 24 February 2016 and 26 February 2016,
+respectively, with a total amount of RMB600 million (RMB595.8 million after deducting listing expenses). The current medium term notes have
+a term of 5+N years. On or after the fifth interest payment date, the issuer has the right to redeem the current medium-term notes at par plus
+accrued interest (including any deferred interest payments). If the issuer decides to exercise the redemption rights at the time provided in the
+above mentioned terms of redemption rights, the issuer shall publish the Announcement of Early Redemption through media designated by the
+competent department according to related provisions one month before the redemption and the redemption process shall be completed by the
+Shanghai Clearing House as the agent. Reset the fixed interest rate: For the current medium term notes, the coupon interest rate of the first 5
+years for which interest is accruable is 5.1% per annum. If the issuer does not exercise the redemption rights, the coupon interest rate will be
+adjusted to the then base rate plus initial spread and 300 basis points from the 6th year, and remains unchanged from the 6th year to the 10th
+year for which interest is accruable. The coupon interest rate is reset every 5 years.
+to decrease share capital.
+the borrower declares dividend to the holders of ordinary shares;
+to pay any financial instruments that has priority lower than the perpetual loans;
+2016
+RMB'000
+15,754
+BYD Company Limited Annual Report 2016
+112
+111
+10,000
+Net inflow of cash and cash equivalents in respect of the disposal of a subsidiary
+Cash and bank balances disposed of
+10,000
+2016
+RMB'000
+Cash consideration
+122,323
+Satisfied by
+An analysis of the net inflow of cash and cash equivalents in respect of the disposal of a subsidiary is as follows:
+Satisfied by
+Cash
+2016
+RMB'000
+10,000
+174,600
+184,600
+(27,064)
+(63,983)
+137,570
+10,000
+•
+to declare and pay dividend to ordinary shareholders;
+.
+Notes:
+Non-public offering (Note (a))
+At 31 December 2015 and 1 January 2016
+At 1 January 2015
+A summary of movements in the Company's share capital is as follows:
+2,476,000
+2,728,143
+2,728,142,855 (2015: 2,476,000,000) ordinary shares of RMB1 each
+Authorised, issued and fully paid:
+(a)
+2015
+RMB'000
+Shares
+32. Share capital
+At 31 December 2016, no provision has been made to recognise deferred tax liabilities arising on the future distribution of retained profits
+from these subsidiaries as the Company controls the dividend policy of these subsidiaries and in the opinion of the directors, it is not probable
+that these subsidiaries will distribute such earnings in the foreseeable future. The aggregate amount of temporary differences associated
+with investments in subsidiaries in Mainland China for which deferred tax liabilities have not been recognised totalled approximately
+RMB9,289,855,000 at 31 December 2016 (2015: RMB7,642,956,000).
+Pursuant to the PRC Corporate Income Tax Law, a 10% withholding tax is levied on dividends declared to foreign investors from the foreign
+investment enterprises established in Mainland China. The requirement is effective from 1 January 2008 and applies to earnings after 31
+December 2007. A lower withholding tax rate may be applied if there is a tax treaty between Mainland China and the jurisdiction of the foreign
+investors. For the Group, the applicable rate is 10%. The Group is therefore liable for withholding taxes on dividends distributed by those
+subsidiaries established in Mainland China in respect of earnings generated from 1 January 2008.
+Deferred tax assets (continued)
+31. Deferred tax (continued)
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+2016
+RMB'000
+Number of
+shares in issue
+Share capital
+RMB'000
+The Company could not defer current interests and all deferred interests before 12 months of the interest payment date when below compulsory
+interest payment events occur:
+As long as the compulsory interest payment events have not occurred, the Company has the right to choose to defer the interests payment at
+each interest payment date to the next without time limit of deferral, which does not cause the Company for breach of contract. The compound
+interests will be charged to the deferred interests by the interest rate of the deferred period.
+The Company issued three tranches of perpetual loans on 9 August 2015, 23 September 2015 and 25 December 2015, respectively, with a
+total principal amount of RMB3.2 billion. The loans will have a perpetual term until redemption by the Company in accordance with the terms
+of issuance, and will mature at the redemption by the Company. At the third maturity date and each maturity date thereafter, the Company
+has the right to redeem the notes with a principal amount plus all deferred interests. The interest rate for the first three years is 6.25%-6.50%
+per annum. In 2016, the company signed a supplementary agreement with the borrower to change the interest rate of the first three years to
+Shibor 3M+2.408%, Shibor 3M+2.503%, and Shibor 3M+2.4998% respectively, effecting on 17 May 2016. On 31 December 2016, the latest
+interest is 5.28%, 5.74%, and 5.76%. If the Company will not redeem the loans, the interest rate will be reset every year after the first three
+years. The interest rate for the first extended year will be reset to that the last effective interest rate plus 300 basis points per annum. Thereafter,
+the interest rate for each year will be reset to that period benchmark interest rate plus 300 basis points per annum until the interest rate is 18%.
+34. Perpetual loans
+Pursuant to the relevant laws and regulations for business enterprises, a portion of the profits of the Group's entities which are registered in
+the PRC has been transferred to the statutory surplus reserve fund which is restricted as to use. When the balance of the reserve fund reaches
+50% of the Group's capital, any further appropriation is optional. The statutory surplus reserve can be utilised to offset prior year's losses or to
+increase capital. However, the balance of the statutory surplus reserve must be maintained at least 25% of capital after this usage.
+The amounts of the Group's reserves and the movements therein for the current and prior years are presented in the consolidated statement of
+changes in equity on pages 51 to 52 of the financial statements.
+33. Reserves
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+110
+109
+In July 2016, 252,142,855 A shares which were issued at an issue price of RMB57.40 per share which have been listed on the Shenzhen Stock Exchange
+since 25 July 2016. The A shares were issued to six subscribers who were professional, institutional and/or other investors. The Company raised net proceeds
+of RMB14,369,070,026 (being the balance of the total proceeds of RMB14,472,999,877 after the deduction of issue expenses of RMB103,929,851 but before
+deduction of tax) from the non-public offering. The registered capital of the Company was increased by RMB252,142,855 (being the aggregate nominal value of the A
+shares issued under the non-public offering) to RMB2,728,142,855 following the completion of the non-public offering, with all the new capital being monetary capital
+contribution.
+2,728,143
+2,728,142,855
+252,143
+252,142,855
+2,476,000
+2,476,000,000
+2,476,000
+2,476,000,000
+Notes to Financial Statements
+In October 2010, Shangluo BYD Co., Ltd ("Shangluo BYD" or the "Purchaser") entered into the Material Supply Contract (the "Supply Contract") with Jiangxi
+LDK PV Silicon Technology Co., Ltd. ("LDKPV" or the "Vendor") and Jiangxi LDK Solar Hi-Tech Co., Ltd. ("LDK Solar" or the "Guarantor"), both of which are
+silicon material suppliers. LDK Solar as the Guarantor provides the Purchaser with guarantee of several liability for all debts incurred from the Supply Contract
+by the Vendor. The Supply Contract provides that during the contract term from January 2011 to December 2012, the Purchaser shall purchase 3,000 tonnes
+of polysilicon materials from the Vendor at a price of RMB650,000/tonne (the "Initial Purchase Price") for a total contract value of RMB1.95 billion. The Supply
+Contract provides that Shangluo BYD shall pay deposits of RMB97,500,000 to the Vendor. The Supply Contract also provides that if the prevailing market price
+fluctuates more than 5% over the Initial Purchase Price, the parties shall negotiate about adjusting the purchase price by reference to the market price.
+31 December 2016
+(a) Action against Foxconn
+Land and buildings (i)
+Contracted, but not provided for:
+In addition to the operating lease commitments detailed in note 37 above, the Group had the following capital commitments at the end of the
+reporting period:
+38. Commitments
+As at 31 December 2016, the Group had a leaseback agreement with a leasing company and BYD International Lease Finance Corp (the
+lessor). According to the leaseback agreement, the Group sold certain machinery and equipment (the "Asset") with a net book value of
+RMB1,281,969,000 for the transaction price equivalent to the net book value and subsequently leased back for lease term of three years (March
+2015 to March 2018) during which the Group is requested to pay a rental fee of RMB286,531,000 per annum. The Group has been granted
+the option to buy back the Asset at 30% of original transaction price, return the equipment to the leasing company or renew the rent based on
+renegotiation between the Group and the leasing company by the end of the lease term. The Group has defined the process of purchasing and
+selling the Assets as purchasing and selling items of property, plant and equipment under this bargaining condition.
+1,146,202
+894,399
+6,112
+71,912
+Plant and machinery
+650,814
+489,276
+435,506
+2015
+RMB'000
+2016
+RMB'000
+In the second to fifth years, inclusive
+After five years
+Within one year
+At 31 December 2016, the Group had total future minimum lease payments under non-cancellable operating leases falling due as follows:
+There were no contingent rentals, renewal or purchase options, escalation clauses or any restrictions imposed on dividends, additional debt and
+further leasing within the lease arrangements.
+The Group leases certain of its office properties and office equipment under operating lease arrangements. Leases for properties are negotiated
+for terms ranging from three to five years.
+386,981
+37. Operating lease arrangements (continued)
+Authorised but not contracted for
+2015
+RMB'000
+(b)
+BYD Auto, a subsidiary of the Company, will invest in the construction of the "BYD Automobile Plant II Project" in the Xi'an High-Tech Zone. The investment
+amount of the project, which is for the production of vehicles and automobile components, is RMB4.46 billion.
+BYD Automobile Plant II Project
+(a)
+(i) Included in the above capital commitment is a commitment with regard to the BYD Automobile Plant II Project mentioned below with the amount of RMB101,328,000
+(2015: RMB169,092,000):
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016 115
+Notes:
+2016
+RMB'000
+38. Commitments (continued)
+5,158,375
+900,207
+679,644
+4,260,102
+4,478,731
+3,418,080
+3,972,449
+788,022
+506,282
+5,106,309
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+The Company and Holitech Technology Co., Ltd. ("Holitech") (the "transferee") entered into the strategic cooperation, asset transfer in
+consideration of Non-public Offering shares and cash consideration asset transport framework agreement (
+(d) Contingent liabilities arising from the profit compensation agreement relating to Shenzhen BYD
+Electronic Components Co., Ltd ("Electronic Components")
+36. Contingent liabilities (continued)
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+The Group entered into tri-lateral finance lease arrangement contracts with certain end-user customers and third-party or related leasing
+companies. Under the joint leasing arrangement, the Group provides a guarantee to the third-party or related leasing companies that in
+the event of end-user customer default, the Group is required to make payment to the leasing companies for its share of the outstanding
+lease payments due from the end-user customer. Management believes that the repossessed vehicles will be able to be sold for proceeds
+that are not significantly different from the amount of guarantee payments. At the same time, the Group is entitled to repossess and
+sell the leased new energy vehicle, and retain any net proceeds in excess of the guarantee payments made to the leasing companies.
+As at 31 December 2016, the Group's maximum exposure to this guarantee was RMB4,180,316,000 (2015: RMB1,561,754,000).
+The term of these guarantees coincides with the tenure of the lease contracts. For the year ended 31 December 2016, there was no
+default of payments from end-user customers which required the Group to make guarantee payments to the third-party or related leasing
+companies.
+(c) Financial guarantee issued
+As at 31 December 2016, the banking facilities granted to subsidiaries and joint ventures subject to guarantees given to banks by the
+Company were utilised to the extent of approximately RMB24,365,908,000 (2015: RMB16,047,517,000) and RMB3,302,500,000 (2015:
+RMB1,022,080,000) respectively.
+BB&ŹH¸à¤¤ÈERB¥) on 3 April 2015, pursuant to which, the Company sold to the transferee 100% equity interests
+in Electronic Components, a subsidiary of the Company. On 30 September 2015, the transfer of 100% equity interests in Electronic
+Components has been duly registered with the industrial and commercial authorities.
+54,088,970
+RMB'000
+RMB'000
+2015
+2016
+Guarantees given to banks in connection with facilities granted to subsidiaries
+(b) At the end of the reporting period, contingent liabilities not provided for in the financial statements were
+as follows:
+As at reporting date, the case remains in the process of legal proceedings. With assistance from the Company's legal counsel representing
+the Company for the case, the directors are of the view that the estimate of ultimate outcome and amount to settle the obligation, if any, of
+the litigation cannot be made reliably up to date.
+On 2 October 2009 the Defendants instituted a counter-action against Foxconn International Holdings Limited and certain of its affiliates
+for their intervention, by means of illegal measures, in the operations involving the Company and certain of its subsidiaries, collusions,
+written and verbal defamation, and the economic loss as a result of the said activities.
+On 11 June 2007, a Hong Kong High Court action (the "June 2007 Action") was commenced by a subsidiary and an affiliate of Foxconn
+International Holdings Limited (the "Plaintiffs") against the Company and certain subsidiaries of the Group (the "Defendants") for using
+confidential information alleged to have been obtained improperly from the Plaintiffs. The Plaintiffs discontinued the June 2007 Action on
+5 October 2007 with the effect that the June 2007 Action has been wholly discontinued against all the Defendants named in the action
+and this finally disposed of the June 2007 Action without any liability to the Defendants. On the same day, the Plaintiffs initiated a new
+set of legal proceedings in the Court (the "October 2007 Action"). The Defendants named in the October 2007 Action are the same as
+the Defendants in the June 2007 Action, and the claims made by the Plaintiffs in the October 2007 Action are based on the same facts
+and the same grounds in the June 2007 Action. The remedies sought by the Plaintiffs in the October 2007 Action include an injunction
+restraining the Defendants from using the alleged confidential information, an order for the disgorgement of profit made by the Defendants
+through the use of the confidential information, damages based on the loss suffered by the Plaintiffs and exemplary damages. The total
+damages sought by the Plaintiffs in the October 2007 Action have not been quantified.
+74,586,430
+Pursuant to the profit compensation agreement and its supplemental agreement entered into between the Company and Holitech in
+respect of Electronic Components, the terms of profit compensation mainly comprises of two parts:
+(i)
+The company guaranteed that the three-year accumulated profit of Electronic Components shall not be less than RMB714,066,600.
+Any shortfall of the three-year accumulated profit shall be compensated by the shares of Holitech held by the Company with any
+shortfall being compensated by cash.
+114
+113
+219,872
+265,450
+32,010
+25,659
+136,195
+150,143
+51,667
+89,648
+2015
+RMB'000
+2016
+RMB'000
+After five years
+In the second to fifth years, inclusive
+Within one year
+At 31 December 2016, the Group had total future minimum lease receivables under non-cancellable operating leases with its tenants falling due
+as follows:
+The Group leases certain of its properties and vehicles under operating lease arrangements, with leases negotiated for terms ranging from one to
+ten years. The terms of the leases generally also require the tenants to pay security deposits and provide for periodic rent adjustments according
+to the then prevailing market conditions.
+As lessor
+37. Operating lease arrangements
+As of the date of disposal and as at the end of current Period, the profit compensation agreement constitutes a contingent liability and the
+management considered the amount of fair value of financial liability arising from the contingent event is immaterial.
+After the expiry of the profit compensation period of 2015, 2016 and 2017 as agreed in the agreement, Holitech shall conduct
+impairment tests on the target assets. Where the impairment amount of the target assets as at the end of the profit compensation
+period exceeds the total amount of compensation, the Company shall provide further compensation.
+36. Contingent liabilities
+2015
+RMB'000
+338,332
+249
+44. Events after the reporting period
+deposits and other receivables
+344,908
+344,908
+Pledged deposits
+316,895
+316,895
+Short-term deposits
+268,600
+268,600
+6,010,931
+6,010,931
+Financial liabilities
+35,824,937
+Financial assets included in prepayments,
+18,207
+38,914,501
+Financial
+liabilities at
+amortised cost
+RMB'000
+Total
+RMB'000
+Trade and bills payables
+30,655,830
+30,655,830
+Due to joint ventures and associates
+393,428
+393,428
+Due to related parties
+429,429
+429,429
+Financial liabilities included in other payables
+3,071,357
+2,075,959
+338,332
+Due from related parties
+80,036,235
+80,036,235
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+40. Financial instruments by category (continued)
+The carrying amounts of each of the categories of financial instruments as at the end of the reporting period are as follows (continued):
+At 31 December 2016, the Group endorsed certain bills receivable accepted by banks in the PRC (the "Endorsed Bills") with a carrying amount of
+RMB6,569,000 (31 December 2015: RMB27,190,000) to certain of its suppliers in order to settle the trade payables due to those suppliers (the
+"Endorsement"). In the opinion of the directors, the Group has retained the substantial risks and rewards, which include default risks relating to
+such Endorsed Bills, and accordingly, it continued to recognise the full carrying amounts of the Endorsed Bills and the associated trade payables
+settled. Subsequent to the Endorsement, the Group does not retain any rights on the use of the Endorsed Bills, including sale, transfer or pledge
+of the Endorsed Bills to any other third parties. The aggregate carrying amount of the trade payables settled by the Endorsed Bills during the year
+to which the suppliers have recourse was RMB6,569,000 (31 December 2015: RMB27,190,000) as at 31 December 2016.
+2015
+Financial assets
+Available-
+Loans and
+receivables
+RMB'000
+Held for
+trading
+RMB'000
+for-sale
+investments
+RMB'000
+338,332
+Total
+RMB'000
+65,773
+-
+Available-for-sale investments
+3,071,357
+65,773
+3,071,357
+Derivative financial instruments
+18,207
+18,207
+Trade and bills receivables
+26,678,639
+26,678,639
+Due from joint ventures and associates
+1,800,859
+1,800,859
+Long-term receivable
+42,266,961
+2,075,959
+37,642,761
+3,155,337
+Carrying amounts
+Fair values
+2016
+RMB'000
+2015
+RMB'000
+2016
+RMB'000
+2015
+RMB'000
+42,266,961
+37,642,761
+42,266,961
+37,642,761
+Management has assessed that the fair values of short term deposits, cash and cash equivalents, pledged deposits, trade and bills receivables,
+trade and bills payables, financial assets included in prepayments, deposits and other receivables, financial liabilities included in other payables,
+amounts due from the joint ventures and amounts due from/to subsidiaries approximate to their carrying amounts largely due to the short - term
+maturities of these instruments.
+The Group's corporate finance team headed by the finance manager is responsible for determining the policies and procedures for the fair value
+measurement of financial instruments. The corporate finance team reports directly to the chief financial officer and the audit committee. At
+each reporting date, the corporate finance team analyses the movements in the values of financial instruments and determines the major inputs
+applied in the valuation. The valuation is reviewed and approved by the chief financial officer. The valuation process and results are discussed
+with the audit committee twice a year for interim and annual financial reporting.
+3,460,054
+The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current
+transaction between willing parties, other than in a forced or liquidation sale. The following methods and assumptions were used to estimate the
+fair values:
+The fair values of listed equity investments are based on quoted market prices.
+The Group enters into derivative financial instruments with various counterparties, principally financial institutions with AAA credit ratings.
+Derivative financial instruments, including forward currency contracts are measured using valuation techniques similar to forward pricing
+and swap models, using present value calculations. The models incorporate various market observable inputs including the credit quality of
+counterparties, foreign exchange spot and forward rates. The carrying amounts of forward currency contracts are the same as their fair values.
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+41. Fair value and fair value hierarchy of financial instruments (continued)
+Fair value hierarchy
+The following tables illustrate the fair value measurement hierarchy of the Group's and the Company's financial instruments:
+Assets measured at fair value:
+As at 31 December 2016
+Fair value measurement using
+Quoted prices
+in active
+Significant
+observable
+The fair values of the interest-bearing bank and other borrowings have been calculated by discounting the expected future cash flows using
+rates currently available for instruments with similar terms, credit risk and remaining maturities. The Group's own non-performance risk for
+interest-bearing bank and other borrowings as at 31 December 2016 was assessed to be insignificant.
+Interest-bearing bank and other borrowings
+3,155,337
+Interest-bearing bank and other borrowings
+37,642,761
+71,197,407
+71,197,407
+121
+122
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+41. Fair value and fair value hierarchy of financial instruments
+The carrying amounts and fair values of the Group's and the Company's financial instruments, other than those with carrying amounts that
+reasonably approximate to fair values, are as follows:
+Carrying amounts
+2016
+RMB'000
+Fair values
+2015
+RMB'000
+2016
+RMB'000
+3,460,054
+2015
+RMB'000
+Long-term receivable
+253,668
+65,773
+253,668
+65,773
+Derivative financial instruments
+18,207
+18,207
+Available-for-sale investments - listed equity investments
+3,206,386
+3,071,357
+3,206,386
+3,071,357
+Financial liabilities
+Financial assets
+Significant
+unobservable
+42,266,961
+2,525,664
+The amounts due to other related parties:
+Cangzhou Mingzhu
+Electronic Components
+Saidi New Energy
+Northern Qinchuan
+Romos Digital
+Zhongbei Didi
+Mingzhu Plastics
+Easpring Technology
+The balances are unsecured, interest-free and have no fixed terms of repayment.
+Compensation of key management personnel of the Group:
+Short term employee benefits
+Pension scheme contributions
+2016
+RMB'000
+393,428
+2015
+RMB'000
+77,927
+315,464
+12,011
+19
+2,760
+35
+101,212
+470
+36,038
+116,624
+429,429
+2016
+RMB'000
+2015
+RMB'000
+45,063
+328
+A final dividend in respect of the ended 31 December 2016 of RMBO.178 per share (tax inclusive) was proposed pursuant to a resolution passed
+by the Board of Directors on 28 March 2017. This intended to distribute cash dividends of RMB485,609,000 in aggregate based on the total
+share capital of 2,728,142,855 shares of the Company as at 28 March 2017. The proposal of the final dividend is subject to consideration and
+approval at the Company's forthcoming general meeting. This proposed dividend is not reflected as dividend payable in the consolidated financial
+statements.
+37,135
+326
+45,391
+37,461
+Further details of directors' emoluments are included in note 9 to the financial statements.
+117
+The related party transactions in respect of the items set out in note 39(a) do not constitute connected transactions as defined in Chapter
+14A of the Listing Rules.
+463,856
+Shenzhen Chongdian Easy Company Limited ("Chongdian Easy")
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+39. Related party transactions (continued)
+(c) Outstanding balances with related parties (continued):
+31 December 2016
+2016
+RMB'000
+2015
+RMB'000
+The amounts due to joint ventures and associates:
+DENZA
+443,686
+296,097
+International Financial Lease
+4,962
+14
+28,424
+187
+Tianjin BYD
+63,956
+Hangzhou BYD Xihu Auto
+540
+Qianhai Green Transportation
+12
+12
+Guang Qi BYD
+4,981
+199
+Shenzhen Electric Power Sales
+9,474
+4,740
+Jiangnan Chuzu
+Interest-bearing bank and other borrowings
+119
+BYD Company Limited Annual Report 2016
+56,850,321
+Financial liabilities
+||||
+253,668
+3,206,386
+3,206,386
+45,732,885
+2,879,284
+249
+290,569
+335,072
+247,360
+7,111,234
+3,206,386
+7,111,234
+60,056,707
+liabilities at
+amortised cost
+RMB'000
+Total
+RMB'000
+Trade and bills payables
+34,663,130
+34,663,130
+Due to joint ventures and associates
+463,856
+463,856
+Due to related parties
+116,624
+116,624
+Financial liabilities included in other payables
+2,525,664
+Financial
+120
+Cash and cash equivalents
+Short-term deposits
+Notes to Financial Statements
+31 December 2016
+40. Financial instruments by category
+The carrying amounts of each of the categories of financial instruments as at the end of the reporting period are as follows:
+2016
+Financial assets
+Long-term receivable
+Available-for-sale investments
+Available-
+Loans and
+receivables
+Held for
+trading
+for-sale
+investments
+Total
+RMB'000
+247,360
+RMB'000
+RMB'000
+253,668
+Derivative financial instruments
+Trade and bills receivables
+45,732,885
+Due from joint ventures and associates
+2,879,284
+Due from related parties
+249
+Financial assets included in prepayments,
+deposits and other receivables
+290,569
+Pledged deposits
+335,072
+RMB'000
+markets
+Cash and cash equivalents
+inputs
+Maximum amount guaranteed
+Interest-bearing bank and other borrowings
+Trade and bills payables
+Due to joint ventures
+Due to related parties
+Other payables
+Corporate bonds
+Financial guarantee issued (note 36(c))
+Maximum amount guaranteed
+2016
+Less than
+3 to
+less than
+On demand
+RMB'000
+3 months
+Financial guarantee issued (note 36(c))
+RMB'000
+1 to 5 years
+RMB'000
+Over
+5 years
+RMB'000
+Total
+RMB'000
+199,024
+5,627,748 25,123,318
+25,217,456
+463,856
+116,624
+464,016 1,080,447
+4,956,595
+88,525
+9,246,651
+35,796,186
+34,663,131
+463,856
+116,624
+981,202
+2,525,665
+12 months
+RMB'000
+3,406,235 4,755,177
+Corporate bonds
+Due to related parties
+in owners' equity*
+RMB'000
+2016
+If RMB weakens against US$
+If RMB strengthens against US$
+2015
+If RMB weakens against US$
+If RMB strengthens against US$
+Excluding retained profits and exchange fluctuation reserve.
+Credit risk
+55
+55
+146,523
+(146,523)
+(43,932)
+43,932
+The Group trades only with recognised and creditworthy third parties. It is the Group's policy that all customers who wish to trade on credit terms
+are subject to credit verification procedures. In addition, receivable balances are monitored on an ongoing basis and the Group's exposure to bad
+debts is not significant.
+Other payables
+The credit risk of the Group's other financial assets, which comprise cash and cash equivalents and other receivables, arises from default of the
+counterparty, with a maximum exposure equal to the carrying amounts of these instruments.
+Further quantitative data in respect of the Group's exposure to credit risk arising from trade receivables are disclosed in note 23 to the financial
+statements.
+Liquidity risk
+The Group monitors its risk to a shortage of funds using a recurring liquidity planning tool. This tool considers the maturity of both its financial
+instruments and financial assets (e.g., trade receivables) and projected cash flows from operations.
+The Group's objective is to maintain a balance between continuity of funding and flexibility through the use of bank borrowings and corporate
+bonds. In addition, banking facilities have been put in place for contingency purposes. Except for the non-current portion of interest-bearing bank
+borrowings and certain corporate bonds, all borrowings would mature in less than one year at the end of the reporting period.
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+42. Financial risk management objectives and policies (continued)
+Liquidity risk (continued)
+The maturity profile of the Group's financial liabilities as at the end of the reporting period, based on the contractual undiscounted payments, is
+as follows:
+Financial liabilities
+Interest-bearing bank and other borrowings
+Trade and bills payables
+Due to joint ventures
+Since the Group trades only with recognised and creditworthy third parties, there is no requirement for collateral. Concentrations of credit risk are
+managed by analyses by customer. At the end of the reporting period, the Group had certain concentrations of credit risk as 8% (2015: 18%)
+and 24% (2015: 31%) the Group's trade receivables were due from the Group's largest customer and the five largest customers, respectively.
+Increase/(decrease)
+8,161,412
+38,757,406 9,711,772
+128
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+42. Financial risk management objectives and policies (continued)
+Capital management
+The primary objectives of the Group's capital management are to safeguard the Group's ability to continue as a going concern and to maintain a
+healthy capital ratio in order to support its business and maximise shareholders' value.
+The Group manages its capital structure and makes adjustments to it in light of changes in economic conditions. To maintain or adjust the
+capital structure, the Group may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The Group is
+not subject to any externally imposed capital requirements. No changes were made in the objectives, policies or processes for managing capital
+during the years ended 31 December 2016 and 31 December 2015.
+The Group monitors capital using a gearing ratio, which is net debt divided by equity. The Group's policy is to maintain the gearing ratio as low as
+possible. Net debt includes interest-bearing bank and other borrowings less cash and cash equivalents. Equity represents equity attributable to
+owners of the parent. The gearing ratios as at the end of the reporting periods were as follows:
+2016
+RMB'000
+2015
+RMB'000
+Interest-bearing bank and other borrowings
+Less: Cash and cash equivalents
+Net debt
+127
+Equity attributable to owners of the parent
+42,266,961
+37,642,761
+(7,111,234)
+(6,010,931)
+35,155,727
+31,631,830
+47,460,129*
+29,094,404*
+74%
+109%
+Equity attributable to owners of the parent has deducted the amount of perpetual loan of RMB3,795,800,000 (2015: RMB3,200,000,000).
+43. Transferred financial assets that are derecognised in their entirety
+At 31 December 2016, the Group endorsed certain bills receivable accepted by certain banks in Mainland China (the "Derecognised Bills") to
+certain of its suppliers in order to settle the trade payables due to these suppliers with a carrying amount in aggregate of RMB3,063,070,000.
+The Derecognised Bills had a maturity of one to twelve months at the end of the reporting period. In accordance with the Law of Negotiable
+Instruments in the PRC, the holders of the Derecognised Bills have a right of recourse against the Group if the PRC banks default (the
+"Continuing Involvement”). In the opinion of the directors, the Group has transferred substantially all risks and rewards relating to the
+Derecognised Bills. Accordingly, it has derecognised the full carrying amounts of the Derecognised Bills and the associated trade payables. The
+maximum exposure to loss from the Group's Continuing Involvement in the Derecognised Bills and the undiscounted cash flows to repurchase
+these Derecognised Bills is equal to their carrying amounts. In the opinion of the directors, the fair values of the Group's Continuing Involvement
+in the Derecognised Bills are not significant.
+During the year ended 31 December 2016, the Group has not recognised any gain or loss on the date of transfer of the Derecognised Bills. No
+gains or losses were recognised from the Continuing Involvement, both during the year or cumulatively.
+Gearing ratio
+663,040 32,506,131
+1,561,754
+214,433 70,293,795
+88,525
+81,726,874
+4,180,316
+4,180,316
+2015
+Less than
+3 to
+less than
+On demand
+RMB'000
+3 months
+RMB'000
+12 months
+RMB'000
+1 to 5 years
+RMB'000
+Over
+5 years
+RMB'000
+Total
+RMB'000
+3,550,890 19,567,407 4,835,419
+1,561,754
+214,433
+179,265
+22,185,931
+393,428
+8,290,634
+30,655,830
+393,428
+inputs
+645,119
+936,886
+493,954
+409,500 8,161,500
+429,429
+2,075,959
+8,571,000
+824,384 27,496,564 28,761,495 12,996,919
+28,168,149
+Increase/(decrease)
+in profit before tax
+RMB'000
+429,429
+in US$ rate
+inputs
+inputs
+markets
+Significant
+unobservable
+Significant
+observable
+in active
+Quoted prices
+- 3,206,386
+3,206,386
+Fair value measurement using
+3,206,386
+As at 31 December 2015
+Derivative financial instruments
+3,206,386
+(Level 1)
+Available-for-sale investments - listed equity investments
+RMB'000
+RMB'000
+RMB'000
+Total
+(Level 3)
+(Level 2)
+(Level 1)
+%
+in active
+inputs
+inputs
+(Level 1)
+(Level 2)
+(Level 3)
+RMB'000
+Total
+(Level 2)
+RMB'000
+Fair value measurement using
+Significant
+observable
+Significant
+unobservable
+markets
+Interest-bearing bank and other borrowings
+Long-term receivable
+As at 31 December 2015
+Interest-bearing bank and other borrowings
+Long-term receivable
+As at 31 December 2016
+Assets for which fair values are disclosed:
+Fair value hierarchy (continued)
+41. Fair value and fair value hierarchy of financial instruments (continued)
+31 December 2016
+Notes to Financial Statements
+(Level 3)
+BYD Company Limited Annual Report 2016
+123
+Nil).
+During the year, there were no transfers of fair value measurements between Level 1 and Level 2 and no transfers into or out of Level 3 (2015:
+3,054,422
+18,207
+3,036,215
+18,207
+3,036,215
+18,207
+3,036,215
+Available-for-sale investments - listed equity investments
+Derivative financial instruments
+Total
+RMB'000
+RMB'000
+RMB'000
+124
+RMB'000
+Quoted prices
+RMB'000
+The main risks arising from the Group's financial instruments are interest rate risk, foreign currency risk, credit risk and liquidity risk. The
+Group's accounting policies in relation to derivatives are set out in note 2.4 to the financial statements.
+The Group's principal financial instruments, other than derivatives, comprise bank loans, restricted bank deposits, and cash and short term
+deposits. The main purpose of these financial instruments is to raise finance for the Group's operations. The Group has various other financial
+assets and liabilities such as trade receivables and trade payables, which arise directly from its operations.
+42. Financial risk management objectives and policies
+31 December 2016
+BYD Company Limited Annual Report 2016
+37,708,534
+253,668
+65,773
+37,642,761
+65,773
+37,642,761
+37,642,761
+65,773
+Total
+RMB'000
+RMB'000
+Interest rate risk
+RMB'000
+(Level 3)
+(Level 2)
+(Level 1)
+inputs
+inputs
+markets
+Significant
+unobservable
+observable
+in active
+Significant
+Quoted prices
+Fair value measurement using
+42,520,629
+RMB'000
+RMB'000
+The Group's exposure to the risk of changes in market interest rates relates primarily to the Group's long term debt obligations with floating
+interest rates.
+Notes to Financial Statements
+The following table demonstrates the sensitivity to a reasonably possible change in interest rates, with all other variables held constant, of the
+Group's and the Company's profit before tax (through the impact on floating rate borrowings) and the Group's and the Company's equity.
+RMB'000
+253,668
+42,266,961
+253,668
+42,266,961
+Increase/(decrease)
+The following table demonstrates the sensitivity at the end of the reporting period to a reasonably possible change in the US$ exchange rate,
+with all other variables held constant, of the Group's profit before tax (due to changes in the fair value of monetary assets and liabilities) and the
+Group's equity.
+The Group has transactional currency exposures. Those exposures arise from sales or purchases by operating units in currencies other than the
+units' functional currencies, where the revenue is predominately in US$ and RMB and a certain portion of the bank loans is denominated in US$.
+The Group takes rolling forecast on foreign currency revenue and expenses and matches the currency and amount incurred, so as to alleviate the
+impact on business due to exchange rate fluctuation.
+Foreign currency risk
+42. Financial risk management objectives and policies (continued)
+The Group's policy is to manage its interest cost using a mix of fixed and variable rate debts. At 31 December 2016, approximately 66% (2015:
+52%) of the Group's interest-bearing borrowings bore interest at fixed rates.
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+126
+125
+Excluding retained profits and exchange fluctuation reserve.
+31 December 2016
+(25)
+23,525
+Increase/(decrease)
+in basis points
+Increase/(decrease)
+in profit before tax
+RMB'000
+Increase/(decrease)
+in equity*
+42,266,961
+2016
+RMB
+RMB'000
+2015
+RMB
+RMB
+25
+(25)
+(16,946)
+16,946
+225
+(23,525)
+RMB
+8,341,302
+986,876 3,200,000 5,170,287
+(101,564)
+5,863,563
+758,004
+601,028
+127,629
+14,220,857
+(103,930)
+225,597
+225,597
+127,629
+--595,800
+101,564
+3,088,994 3,200,000 13,511,589
+983,411
+Total
+RMB'000
+499,464
+7,303,656
+568,149
+1,295
+6,227,211
+7,873,100
+30,119,302
+15,987,589
+549,903
+440
+EQUITY
+Share capital
+2,728,143
+2,476,000
+Reserves
+23,595,359
+10,311,589
+Equity attributable to equity holders of the Company
+5,676,868
+2015
+RMB'000
+2016
+RMB'000
+TOTAL ASSETS LESS CURRENT LIABILITIES
+36,346,513
+23,860,689
+continued/...
+130
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+45. Statement of financial position of the company (continued)
+NON-CURRENT LIABILITIES
+Interest-bearing bank and other borrowings
+Deferred tax liabilities
+Other non-current liabilities
+Total non-current liabilities
+Net assets
+Perpetual loan
+2,203,682
+Total equity
+30,119,302
+31 December 2016
+Share
+premium
+Statutory
+Capital
+Note
+account
+Interim 2016 dividend
+RMB'000
+surplus
+reserve fund
+RMB'000
+Retained
+profits
+RMB'000
+Perpetual
+loans
+RMB'000
+5,863,563
+(225,407)
+reserve
+RMB'000
+Perpetual loan interest paid (note 12)
+Share issue expenses
+Issue of shares
+15,987,589
+Note:
+A summary of the Company's reserves is as follows:
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+45. Statement of financial position of the company (continued)
+At 1 January 2015
+Total comprehensive income for the year
+Appropriate to statutory surplus reserve fund
+At 31 December 2015
+Profit for the year
+Other comprehensive income for the year:
+Change in fair value of available-for-sale
+investments, net of tax
+Issue of perpetual loans (note 34)
+3,795,800
+3,200,000
+2013
+RMB'000
+14,220,857
+(1,113)
+(12,099)
+206
+PROFIT BEFORE TAX
+6,568,410
+3,794,986
+3,003
+873,952
+290,725
+Income tax expense
+(1,088,398)
+(656,790)
+(134,082)
+(56,215)
+832,081
+(77,835)
+(24,709)
+(121,276)
+(257,330)
+(387,556)
+(205,148)
+Finance costs
+(1,799,609)
+(1,517,003)
+(36,309)
+(1,396,828)
+(862,439)
+Share of profits and losses of:
+Joint ventures
+Associates
+(619,528)
+19,704
+(245,802)
+(1,017,318)
+(581,505)
+PROFIT FOR THE YEAR
+3,138,196
+739,870
+775,866
+212,890
+TOTAL ASSETS
+TOTAL LIABILITIES
+NON-CONTROLLING INTERESTS
+3,138,196
+NET ASSETS (EXCLUDING NON-CONTROLLING
+INTERESTS)
+51,255,929
+32,294,404 25,365,597 21,709,764 21,196,984
+By Order of the Board
+BYD Company Limited
+Wang Chuan-fu
+Chairman
+28 March 2017, Shenzhen, PRC
+As at the date of this announcement, the board of directors of the Company comprises Mr. Wang Chuan-fu being the
+executive director of the Company, Mr. Lv Xiang-yang and Mr. Xia Zuo-quan being the non-executive directors of the
+Company, Mr. Wang Zi-dong, Mr. Zou Fei and Ms. Zhang Ran being the independent non-executive directors of the
+Company.
+145,070,778 115,485,755 94,008,855 78,014,834 70,007,807
+(89,661,415) (79,456,514) (65,114,418) (53,158,393) (45,863,436)
+(4,153,434) (3,734,837) (3,528,840) (3,146,677) (2,947,387)
+5,480,012
+5,480,012
+222,807
+739,870
+775,866
+212,890
+Attributable to:
+Equity holders of the parent
+5,052,154
+131,513
+2,823,441
+553,059
+81,377
+Minority interests
+427,858
+314,755
+306,345
+433,525
+(629,203)
+Other expenses
+(2,055,016)
+46. Approval of the financial statements
+The financial statements were approved and authorised for issue by the board of directors on 28 March 2017.
+131
+132
+BYD Company Limited Annual Report 2016
+Five Year Financial Summary
+3,795,800 27,391,159
+As 31 December 2016
+REVENUE
+Cost of sales
+2016
+RMB'000
+2015
+RMB'000
+2014
+RMB'000
+11,417,136
+A summary of the results and of the assets, liabilities and minority interests of the Group for the last five financial years, as extracted from the
+published audited financial statements and restated/reclassified as appropriate, is set out below.
+2012
+RMB'000
+2,104,902
+885,633
+(103,930)
+(185,155)
+(1,001,228)
+(185,155)
+(1,001,228)
+Total comprehensive income for the year
+14,116,927
+624,334
+127,629
+23,306
+(960,786)
+(23,306)
+595,800
+13,879,570
+At 31 December 2016
+19,980,490
+Appropriate to statutory surplus reserve fund
+44,380,858
+100,207,703 77,611,985 55,366,384 49,767,887
+(81,189,440) (65,752,741) (47,742,926) (43,251,573) (39,254,530)
+Gross profit
+(2,867,992)
+(2,228,758)
+(2,011,845)
+(1,511,797)
+Research and development costs
+(3,171,694)
+(4,196,339)
+(1,998,499)
+(1,278,910)
+(1,150,419)
+Administrative expenses
+(3,690,339) (3,428,963)
+(2,600,600)
+(2,073,516)
+(1,864,695)
+Selling and distribution costs
+550,387
+677,121
+19,018,263
+11,859,244
+7,623,458
+6,516,314
+5,126,328
+Other income and gains
+926,216
+1,991,326
+922,648
+456,199
+423,332
+Government grants and subsidies
+710,939
+581,177
+798,446
+595,800
+11,831,007
+126,376
+15,690,953
+23,525
+24,207
+115,469
+38,831
+35,668
+54,590
+80,935
+14,840
+14,840
+3,211,386
+3,041,215
+24,515,506
+12,443,553
+CURRENT ASSETS
+Inventories
+79,198
+79,497
+Trade and bills receivables
+267,663
+311,825
+273,424
+371,825
+1,353,000
+NET CURRENT ASSETS
+BYD Company Limited Annual Report 2016 129
+Notes to Financial Statements
+31 December 2016
+45. Statement of financial position of the company
+Information about the statement of financial position of the Company at the end of the reporting period is as follows:
+NON-CURRENT ASSETS
+Property, plant and equipment
+Investments in subsidiaries
+Investments in joint ventures
+Long term receivable
+Available-for-sale investments
+Total non-current assets
+2016
+RMB'000
+2015
+RMB'000
+1,735,189
+1,681,450
+17,585,944
+6,584,944
+553,000
+Tax recoverable
+Investments in associates
+Prepaid land lease payments
+Other intangible assets
+Non-current prepayments
+Deferred tax assets
+3,039
+Other payables
+348,948
+97,390
+380,249
+Advances from customers
+5,378
+8,282
+Interest-bearing bank and other borrowings
+10,189,084
+11,274,135
+Due to the related parties
+107,789
+Due to the jointly-controlled entities
+4,962
+Due to subsidiaries
+2,905,002
+3,799,647
+Total current liabilities
+3,039
+13,697,187
+243,813
+Trade and bills payables
+23,461
+27,108,089
+291,144
+CURRENT LIABILITIES
+Prepayments, deposits and other receivables
+38,607
+Due from subsidiaries
+25,227,787
+Due from the jointly-controlled entities
+55,559
+93,250
+Due from the related parties
+24,767,583
+39,199
+25,528,194
+1,347,846
+200
+63,808
+3,746
+1,694
+Restricted bank deposits
+Derivative financial instruments
+Cash and cash equivalents
+Total current assets
+Automobile business
+), which emphasizes to highlight the strategic emerging industry
+in economic and social development with an aim to drive the low carbon
+industries such as new energy automobile, new energy and energy
+saving and environmental protection to become pillar industries. As a
+leader of new energy vehicles industry, BYD will continue to uphold the
+development philosophy of "Technology, Quality and Responsibility".
+With its technological advantages in the industries of automobiles and
+batteries and its three core technologies, namely batteries, motors
+and electric control, BYD will focus on the development of new energy
+automobiles and skyrail businesses and promote long-term and
+sustainable development of the Group.
+Looking ahead to 2017, the global economy is expected to remain
+complicated with additional uncertainties. At the end of November
+2016, State Council published a notice on issuing the "Guideline on
+Emerging Sectors of Strategic Importance during the 13th Five-year
+Plan Period (2016-20)"( +R®®¢¥ªÀ¤¾®µ
+Prospect and Strategy
+In July 2016, the Group issued 252,142,855 A shares at RMB57.40
+per share through non-public offering with an aim to raise total funds of
+approximately RMB14.473 billion. Such issued shares have been listed
+on the Shenzhen Stock Exchange. The raised funds will be used for
+expansion of production capacity for lithium ferrous phosphate batteries
+and for research and development of new energy vehicles, as well as
+supplement of working capital and repayment of bank borrowings. As
+the non-public offering successfully attracted the investments from
+SDIC Advanced Manufacturing Industry Investment Fund (
+£X£À¤KA) and Samsung Group, their involvement in
+this additional issuance has fully demonstrated the recognition for
+BYD's technical strength and industrial leading position from national
+and industrial level, which will accelerate the communication and
+collaboration between each parties in the future. The completion of
+the non-public offering has significantly enhanced our capital strength,
+which has provided sufficient financial support for the continuous
+development of our new energy automobile business, and laid a solid
+foundation for achieving our strategic targets. Meanwhile, the non-
+public offering has also optimized our capital structure, and lowered
+the debt level and finance costs of the Group, which made a significant
+contribution to reduce our financial burdens.
+Management Discussion and Analysis
+According to the "Guideline on Emerging Sectors of Strategic
+Importance during the 13th Five-year Plan Period (2016-20)"( <+
+=*£¥¥¥\\), China advocated for
+strengthening of technological innovation, improvement of industry
+chain, optimization of matching environment, and implementation
+and improvement of the supporting policies, so as to increase the
+industrialization level of pure electric vehicles and plug-in hybrid
+electric vehicles, and realize large-scale application of new energy
+automobiles. As a leader in new energy vehicles industry, BYD will grasp
+the opportunities for development and will make additional investments
+to expand production capacity, improve product competitiveness,
+accelerate research and development and launch of more new models
+with the aim of satisfying the market's fast growing demand.
+14
+Rechargeable batteries and photovoltaic business
+13
+Optimization of Business Structure and Capital Structure
+In June 2016, the Group signed a "Cooperative Framework Agreement
+on the Exploitation of Lithium Resources in Salt Lake" with Qinghai Salt
+Lake Industry Co., Ltd. (), pursuant
+to which, the parties have agreed to set up a joint venture in Qinghai
+engaging in the development, processing and sales of products with
+lithium resources in the Salt Lake, Qinghai. Through the cooperation,
+the Group achieved its strategic planning for upstream core resources
+in new energy automobile industry and optimized its new energy
+automobile industry chain, thus securing an abundant supply of lithium
+resources for the Group's new energy automobiles in the future and
+enhancing its ability to control the cost of raw materials.
+During the year, the Group's rechargeable battery business remained
+stable, with the photovoltaic business growing rapidly but continued
+certain losses. The Group actively developed the international market to
+develop "photovoltaic + energy storage" pattern, and launched products
+in the new household and grid-connection concept. During the year, the
+86 MW project fully using the BYD solar modules in South Africa was
+fully completed, which marked the largest single solar power plant with
+local module in Africa was formally completed.
+The Group's rechargeable batteries mainly include lithium-ion batteries
+and nickel batteries, which are widely used in portable electronic
+devices, including handsets, digital cameras, power tools and electrical
+toys. In addition, the Group has also been actively expanding into the
+field businesses such as energy storage stations and solar power
+stations. In 2016, the Group's rechargeable battery and photovoltaic
+business recorded revenue of approximately RMB7,103 million,
+representing a year-on-year increase of 23.53%.
+BYD Company Limited Annual Report 2016
+In the field of passenger vehicles, “Qin 100" and "Tang 100", the
+upgraded versions of plug-in hybrid vehicles “Qin” and “Tang” have
+been launched at the end of February 2017, with emphasis on
+improving performance of power system and electronic equipment,
+making the driving range under pure electric mode reaching up to 100
+km and the core competitiveness of products further enhanced. In
+addition, more vehicles including “Song PHEV" and "Yuan PHEV" will be
+launched successively, which will provide more diversified options for
+consumers and consolidate the Group's leading position for new energy
+vehicles industry.
+For the business of rechargeable batteries, the Group will continue to widen the range of applications of lithium-ion batteries and nickel batteries in
+order to consolidate its leading market position. For the photovoltaic businesses, the Group will continue to expand both the domestic and overseas
+markets in 2017, improve capacity utilization and sales volume, actively control costs and enhance the revenue and profitability of this business.
+7
+55,000
+During the year, the market share and sales of domestic smartphone
+manufacturers with self-owned brands increased constantly, and the
+penetration of metal parts continued to increase. Leveraging on the
+longtime experiences, leading technologies and mature processes
+accumulated in the metal parts field, the Group continues to maintain
+close cooperation with leading handset brands manufacturers in
+domestic and overseas, and is actively seeking for new clients. During
+the year, the metal parts business developed strongly and its income
+increased by over 50% year-on-year. During the Year, the assembly
+business achieved sound development with continuous smartphone
+EMS orders from the leading brands.
+Range of net profit attributable to shareholders of the listed company
+(RMB10,000) for January to March 2017
+-23.59%
+to
+-35.35%
+Change (in percentage) of net profit attributable to shareholders of the
+listed company for January to March 2017
+Forecasted operating results for January to March 2017
+Estimated operating results for January to March 2017:
+Rechargeable battery and photovoltaic business
+As a leading manufacturer in the handset components and assembly industry, the Group will continue to make effort to develop its metal parts
+business and widen the range of applications of metal casings and metal structural components in 2017. As for application of new materials, the
+Group will actively expand new businesses including glass and porcelain, and provide more comprehensive solutions to our customers. The Group
+will also actively seek business from new customers at home and abroad to establish a broader client network with the aim of achieving sustainable
+development of its handset component and assembly business. In the future, the Group will actively expand new businesses including automotive
+electronics, unmanned plane and consumer electronic products to create new growth point for the continuous development of the Group.
+Handset components and assembly business
+The National Ministry of Finance, the Ministry of Science and Technology, the Ministry of Industry and Information Technology, and the Development
+and Reform Commission launched new subsidy policies on new energy automobiles at the end of 2016, which would have a significant effect on
+new energy automobile industry. Since the subsidies of the central government of 2017 decreased by 20% as compared to that of 2016 and local
+financial subsidy shall not exceed 50% of central government's subsidies to each automobile, some manufacturers with smaller size and no effective
+competitiveness might withdraw from the market gradually, and the overall market concentration would be further intensified. Leading enterprises will
+be benefited a lot, and the continued and healthy development of new energy industry will be ultimately promoted.
+In the field of public transportation, the Group devotes to increasing its penetration and market share in domestic and overseas markets, enhancing
+its brand recognition and influence, and building an international brand. The urban rail transit in China will come to a development peak in the "13th
+Five-year Plan" period. Currently, the construction of rail transit has been brought into the list of key development projects in the "13th Five-year Plan"
+of a number of provinces and cities. The Group will focus on the development of low-carbon and green "Skyrail" products, and strive to cooperate with
+more medium and small-sized cities of the country to solve the increasingly serious traffic congestion problems. In the field of traditional fuel vehicles,
+the Group will continue to promote the sales of SUV models actively to boost the development of the traditional fuel vehicle business.
+Management Discussion and Analysis
+BYD Company Limited Annual Report 2016
+11
+As one of the most competitive handset component and assembly
+service suppliers in the world, BYD provides one-stop services from
+design, component manufacturing to complete handset assembly
+services for both domestic and overseas handset manufacturers
+through a one-stop business model which features vertical integration.
+In 2016, the revenue from the handset components and assembly
+business of the Group amounted to RMB38,083 million, up by 15.65%
+year-on-year.
+Handset components and assembly business
+In the international market, the Group took the public transportation as
+a breakthrough point, and continued to advance the development and
+application for new energy automobiles in the field of urban buses and
+taxis. Currently, our new energy automobiles have been successfully
+operated in over 200 cities of more than 50 global countries and
+regions in six continents, including America, Japan, the United Kingdom,
+Brazil, Netherlands and Australia.
+To promote the sustainable and healthy development of the new energy
+automobile industry, the National Ministry of Finance, the Ministry
+of Science and Technology, the Ministry of Industry and Information
+Technology, and the Development and Reform Commission jointly
+released the Notice on Adjusting the Financial Subsidy Policies for the
+Promotion and Application of New Energy Vehicles ( KAJ*
+新能源汽車推廣應用財政補貼政策的通知》) in December
+2016, which improved the access threshold for financial subsidies
+from vehicle energy consumption, driving range, battery performance
+and safety requirements, etc. Under the premise of maintaining the
+overall continuity of the subsidy policy from 2016 to 2020, the notice
+improved the subsidy-use efficiency by adjusting and improving the
+forms of subsidies and formulating reduction plans. At the same time,
+the construction of charging facilities in China has accelerated rapidly,
+and a large-scale charging service network has been built in Beijing,
+Shanghai and Shenzhen, which has steadily pushed forward the
+charging infrastructure construction to meet the rapid development of
+new energy vehicles. According to the data disclosed by the Ministry
+of Industry and Information Technology, the number of new built public
+charging piles in China in 2016 reached 100,000, representing 10
+times as compared to that of 2015.
+Management Discussion and Analysis
+BYD Company Limited Annual Report 2016
+Affected by fraud investigations and policy changes, the new
+energy vehicles market slowed its growth. However, it still realized
+a fast development. According to statistics from China Association
+of Automobile Manufacturers, the production and sales of new
+energy vehicles in China reached 517,000 units and 507,000 units
+respectively, representing an increase of 51.7% and 53% year-on-year
+respectively, ranking first in the world for two consecutive years. In
+which, sales of pure electric vehicles increased by 65.1% year-on-year
+to 409,000 units, while sales of plug-in hybrid vehicle rose by 17.1%
+year-on-year to 98,000 units.
+Specifically, sport utility vehicles ("SUVS"), the sales of which rose
+by 44.59% year-on-year to 9,047,000 units, remained an important
+growth engine of China's automobile market. At the same time, sales
+of Chinese branded passenger vehicles exceeded ten million for the
+first time, increasing by 20.5% year-on-year to 10,529,000 units,
+accounting for 43.2% of the total sales of passenger vehicles, up by 2
+percentage points as compared to last year.
+Driven by the policy stimulus, China's automobile market has recovered
+strongly during the year. According to statistics from China Association
+of Automobile Manufacturers, the production and sales of automobiles
+in China reached a record high in 2016, and the production and sales
+for the whole year reached 28,119,000 units and 28,028,000 units
+respectively, increasing by 14.5% and 13.7% year-on-year respectively,
+ranking first globally for eight consecutive years.
+According to the report from IDC the global smartphone market
+shipments was 1.47 billion units, which grew by only 2.3%
+year-on-year. The historical rapid growth trend in China, the United
+States, Brazil and other major markets was terminated.
+Looking back on 2016, the global situation was complex and volatile.
+The economic growth of developed economies remained sluggish and
+the economic growth of emerging countries was slow but tended to
+be stable. As for China, its economic growth further slowed down to
+6.7%. Facing on-going economic downward pressure, the Chinese
+government stepped up the optimization and transformation of industrial
+structure by mainly promoting the supply-side structural reforms and
+continued to expand strategic emerging industries, with a view to
+creating a new engine for economic and social development.
+Industry analysis and review
+Management Discussion and Analysis
+BYD Company Limited Annual Report 2016
+10
+New Energy
+New Future
+to
+Automobile business
+According to the latest data released by China Academy of
+Telecommunication Research, domestic handset shipments grew by
+8.0% year-on-year to 560 million units in 2016, including 522 million
+units of smartphones, which represented a year-on-year increase of
+14.0%, accounting for 93.2% of domestic handset shipments for the
+same period. China's smartphone brands maintained strong growth in
+sales. Domestic smartphone manufacturers have improved the brand
+positioning and increased the market share of domestic high-end
+smartphones through technical innovation. The slowdown in the market
+growth has resulted in increasingly fierce competition between domestic
+and overseas manufacturers of smartphones and the focus on the
+pursuit for difference in exterior design to attract consumers, continually
+heading up the demand for metal casings and metal middle frames.
+The penetration rate of metal parts, with manufacturing technology and
+scale gaining rapid achievements and maturing, increased constantly
+during the year, with costs continually decreasing, and continued to lead
+the industrial trend. During the year, metal parts are being widely used
+in more mobile intelligent devices and consumer electronic products
+with market scale continuing to expand.
+Rechargeable batteries and photovoltaic business
+During the year, the global sales volume of consumer electronic
+products remained stable. Along with the intense competition, market
+demand for lithium batteries and nickel batteries was weak. In the
+photovoltaic industry, global newly installed capacity of solar power
+reached 76 gigawatts with a year-on-year growth of 48%, in 2016,
+based on the statistics provided by SolarPower Europe (the European
+Photovoltaic Industry Association). In particular, China ranked first in
+the world with newly installed capacity amounting to 34.2 gigawatts,
+representing a year-on-year growth of 125%. With the strong support of
+national and local policies, the photovoltaic industry recovery has been
+driven by notably accelerated development of distributed photovoltaic
+power generation and the decreased cost of modules, and however, the
+market competition remained fierce.
+Management Discussion and Analysis
+BYD Company Limited Annual Report 2016
+As for rail transportation, the "Skyrail” monorail train on which the Group
+spent 5 years for research and development was launched in Shenzhen
+in October, marking the Group's official entrance into the emerging rail
+transit industry. "Skyrail" uses lightweight material and technology, and
+is equipped with energy recycling system. Its costs and construction
+period are far below that of metro, largely applicable to market demand
+in small and medium-sized cities. Since development of rail transit is
+specially mentioned in the 13th Five Year Plan of China, "Skyrail" is
+expected to have a rapid development. Up to now, there are a lot of
+cities planning to construct rail transit, and the market size may reach
+trillions. As the strategic product of the Group, "Skyrail” can effectively
+solve the urban traffic congestion problem, and realize the multi-level
+layout, from the ground to the air, in public transportation of the Group,
+which pioneers a new ground for the long-term development of the
+Group.
+While focusing on new energy vehicle market, the Group also promoted
+the development of traditional fuel vehicle business. During the year,
+the Group's sales of traditional fuel vehicles increased by approximately
+1.78% year-on-year to approximately 326 thousand units. In particular,
+SUV remained to be a key growth driver, particularly, the sales of
+"Song" matchless Version recorded more than 10 thousand units each
+month since its launch in September 2016 for three months in a row.
+During the year, the Group continued to improve its products layout and
+launched small SUV model in April 2016, so as to further enrich the
+product line of SUV and promote continual improvement in our product
+structure and continual increase in average selling price per unit.
+During the year, the overall revenue generated from new energy
+automobile business rose by approximately 80.97% year-on-year
+to approximately RMB34,095 million, accounting for approximately
+34.02% of the Group's total revenue, becoming a major source of
+revenue and profit of the Group.
+On the other hand, the Group continued to promote the development
+strategy of electrification of public transport. Pure electric buses and
+taxis maintained a strong development in both domestic and overseas
+markets. According to the statistics released by the Ministry of Industry
+and Information Technology, the rank of pure electric buses of the
+Group in the industry rose from the fifth in 2015 to the second in 2016.
+According to the statistics released by www.ChinaBus.Info, the sales
+of pure electric buses with the length over 10 meters ranked first in
+the industry for three consecutive years. As of the end of December
+2016, "e6" pure electric taxis and "K9" pure electric buses which were
+put into operation in Shenzhen, reached accumulated mileages of 420
+million km and 140 million km respectively. The maximum mileage for
+a single "e6" pure electric taxi vehicle reached 927,000 km while that
+of a single "K9" pure electric bus reached 370,000 km, continuing to
+maintain the world record for the longest ride in public transportation.
+As for passenger vehicles, plug-in hybrid vehicle model "Tang" topped
+the sales of Chinese new energy automobiles in 2016, with sales
+of approximately 25 thousand units and a significant year-on-year
+increase of 44.54%. Plug-in hybrid passenger vehicle "Qin" and
+pure electric passenger vehicle "e6" ranked the second and third
+respectively. As for pure electric passenger vehicles, the model "Qin
+EV300" and "e5", launched in the end of March by the Group received
+overwhelming response from consumers since its introduction and
+rapidly expanded the Group's market in Beijing. Furthermore, e5
+became a new growth driver for the Group with a sales of approximately
+13 thousand units.
+increased by 120.68% year-on-year over 10 thousand units, with its
+market share substantially increased. According to the data released by
+www.d1ev.com, the global market share of BYD new energy vehicles
+reached 13% and its market share in China reached 23%, thereby
+making its industry position consolidated.
+Management Discussion and Analysis
+12
+11
+In 2016, with the continuous policy support from governments at all
+levels and the continuous rapid growth of the industry, BYD vigorously
+took landmark opportunities and enhanced the development of new
+energy automobile business, which helped maintain the Company's
+global leading position in the new energy automobile industry. Sales of
+the Group's new energy automobile surged by 69.85% year-on-year
+to 96 thousand units during the year, ranking No. 1 in the world.
+In particular, sales of new energy passenger vehicles increased by
+65.41% to approximately 86 thousand units, leading the new energy
+passenger vehicle market once again. Sales of pure electric buses
+Automobile business
+BYD Company Limited ("BYD" or the "Company") and its subsidiaries
+(collectively referred to as the "Group") are principally engaged in the
+automobile business, including new energy automobiles and traditional
+fuel vehicles, and handset components and assembly business, as
+well as rechargeable battery and photovoltaic business. During the
+year, the Group's revenue was approximately RMB100,208 million,
+representing a year-on-year increase of 29.11%. Revenue generated
+by the business of automobiles and related products rose by 41.32%
+year-on-year to approximately RMB55,022 million. The revenue
+from the handset components and assembly business amounted to
+approximately RMB38,083 million, up by 15.65% year-on-year. The
+revenue from the rechargeable battery and photovoltaic businesses
+was approximately RMB7, 103 million, up by 23.53% year-on-year. The
+automobile business, handset components and assembly business and
+rechargeable battery and photovoltaic business accounted for 54.91%,
+38.00% and 7.09% of the Group's total revenue, respectively.
+Business review
+Handset components and assembly business
+65,000
+The Group completed the issue of 2016 Tranche | Medium Term Notes
+("Tranche | Notes") and 2016 Tranche II Medium Term Notes ("Tranche
+Il Notes") on 24 February 2016 and 26 February 2016, respectively.
+The tranche | Notes and Tranche II Notes were issued at par of RMB100
+each for a term of 5+N years (due upon redemption by the Company
+pursuant to the terms of the issue) to raise RMB200 million and
+RMB400 million, respectively for funding bank loan repayments. A total
+of RMB595.8 million (after deducting listing expenses) was raised. The
+coupon interest rate for the first 5 years for which interest is accruable
+is 5.1% per annum. Starting from the 6th year for which interest is
+accruable, the coupon interest rate is reset every 5 years.
+15
+Reasons for changes in results
+Number of
+shares issued
+As at 31 December 2016, the share capital of the Company was as
+follows:
+Share Capital
+As at 31 December 2016, the Group had approximately 194,000
+employees. During the period, total staff cost accounted for
+approximately 15.81% of the Group's turnover. Employees'
+remuneration was determined based on performance, experience and
+prevailing industry practices, with compensation policies being reviewed
+on a regular basis. Bonuses and commission were also awarded to
+employees, based on their annual performance evaluation. Incentives
+were offered to encourage personal motivation.
+Employment, Training and Development
+significant difficulties in or impacts on its operations or liquidity due to
+fluctuations in currency exchange rates. The directors believe that the
+Group has sufficient foreign exchange to meet its own foreign exchange
+requirements and will adopt practical measures to prevent exposure to
+exchange rate risk.
+Percentage
+Most of the Group's income and expenditure are settled in RMB
+and US dollar. During the period, the Group did not experience any
+At 31 December 2016, certain items of the Group's land and buildings
+with a net carrying amount of approximately RMB79,509,000 (2015:
+RMB75,506,000) were pledged to secure general banking facilities
+granted to the Group; and certain items of the Group's construction in
+progress with a net carrying amount of approximately RMB9,778,000
+(2015: RMB9,153,000) were pledged to secure general banking
+facilities granted to the Group. Further, at 31 December 2016, a
+pledged bank deposit of RMB335,072,000 (2015: RMB316,895,000)
+was pledged for bank acceptance bills of RMB217,836,000 (2015:
+RMB226,876,000), letter of credit of RMB51,016,000 (2015:
+RMB8,021,000) and various projects as required of RMB66,220,000
+(2015: RMB81,998,000).
+The Group monitors its capital by using gearing ratio, which is net debt
+divided by equity. The Group's policy is to maintain the gearing ratio
+as low as possible. Net debt includes interest-bearing bank and other
+borrowings less cash and cash equivalents. Equity represents equity
+attributable to owners of the parent. Therefore, the gearing ratios of the
+Group was 74% and 109% as at 31 December 2016 and 31 December
+2015, respectively.
+The Group's Financial Division is responsible for the Group's financial
+risk management which operates according to policies implemented
+and approved by senior management. As at 31 December 2016,
+borrowings were primarily settled in RMB, while cash and cash
+equivalents were primarily held in RMB and US dollar. The Group plans
+to maintain an appropriate mix of equity and debt to ensure an efficient
+capital structure during the period. As at 31 December 2016, the
+Group's outstanding loans included RMB loans and foreign currency
+loans and approximately 66% (31 December 2015: 52%) of such
+outstanding loans were at fixed interest rates, with the remaining at
+floating interest rates.
+Capital Structure
+Management Discussion and Analysis
+BYD Company Limited Annual Report 2016
+Exposure to Foreign Exchange Risk
+For the year ended 31 December 2016, turnover period of accounts and bills receivables was approximately 132 days, as compared to approximately
+116 days for the same period in 2015. The increase in trade and bill receivables turnover days is mainly due to the increase in the new energy
+automobile business which has a longer account receivable turnover period. The inventory turnover period was approximately 76 days for the year
+ended 31 December 2016 as compared to about 73 days for the same period in 2015 without significant change.
+(%)
+1,813,142,855
+17
+During the reporting period, the Company had no significant
+environmental protection or social security issues.
+Environmental Protection and Social Security
+Please refer to note 36 to the financial statements for details of
+contingent liabilities.
+Contingent Liabilities
+Please refer to note 38 to the financial statements for details of capital
+commitments.
+Domestic shares
+H shares
+Total
+Capital Commitment
+Purchase, Sale or Redemption of Shares
+100.00
+2,728,142,855
+33.54
+915,000,000
+66.46
+The Company did not redeem any of its shares during the period from
+1 January 2016 to 31 December 2016. During the period, neither
+the Company nor any of its subsidiaries purchased or sold any of the
+Company's shares.
+Net profit attributable to shareholders of the listed company (RMB10,000)
+for January to March 2016
+During the Year, BYD generated operating cash outflow of approximately RMB1,846 million, compared with operating cash inflow of approximately
+RMB3,842 million in 2015. Cash outflow of the Group during the period was mainly arising from the increase in purchase of goods and services during
+operating activities and slow return payment of subsidies receivables of new energy automobiles. Total borrowings as at 31 December 2016, including
+all bank loans and bonds, were approximately RMB42,267 million, compared with approximately RMB37,643 million as at 31 December 2015. The
+maturity profile of the bank loans and bonds thereof spread over a period of fourteen years, with approximately RMB32,928 million repayable within
+one year, approximately RMB7,432 million in the second year, approximately RMB2,943 million within the third to the fifth years and approximately
+RMB964 million over five years. The Group had adequate liquidity to meet its daily management and capital expenditure requirements and control
+internal operating cash flows.
+During the Year, the Group's gross profit increased by approximately 60.37% to approximately RMB19,018 million. Gross profit margin increased from
+approximately 15.28% in 2015 to approximately 18.98% during the year. The increase in gross profit margin was mainly due to higher percentage of
+revenue from new energy automobile business to total revenue and the increased gross profit margin of new energy automobile business.
+7%
+Turnover Breakdown by Locations of Customers
+Turnover Breakdown by Product Categories
+The charts below set out comparisons of the Group's turnover by product category for the years ended 31 December 2016 and 2015:
+Segmental Information
+During the Year, turnover increased by 29.11% as compared to that of 2015, which was mainly driven by significant growth in sales of new energy
+automobiles and strong performance of metal components and assembly business. Profit attributable to equity holders of the parent company
+increased by 78.94% as compared to the same period of the previous year, mainly attributable to expansion of the new energy automobile business.
+2016
+Turnover and Profit attributable to Owners of the Parent Company
+Management Discussion and Analysis
+BYD Company Limited Annual Report 2016
+16
+15
+During the first quarter of 2017, it is expected that adjustments will be made in new energy
+vehicle in short period influenced by the changes in grants polices of new energy vehicle. The new
+energy vehicle business of the Group will also suffer pressure, so it is expected that the sales and
+gains of new energy vehicle will decrease. Traditional automobile business is expected to maintain
+steady progress. In terms of handset components and assembly business, the penetration of
+metal parts continues to increase. The Group continues to secure the orders for high-end flagship
+handset models from global leading smartphones manufactures, which is expected to promote
+the rapid growth of the Group's handset components business. In terms of solar business, market
+competition remains fierce and the price pressure of products is still high.
+85,071
+Financial Review
+Liquidity and Financial Resources
+2015
+Rechargeable Battery and Photovoltaic
+Gross Profit and Margin
+%7*06
+2015
+Others
+Europe
+U.S.A.
+2016
+2015
+%Є*76
+2016
+2016
+China
+2015
+Automobiles
+Handset and Assembly Services
+3.7%
+BYD Company Limited Annual Report 2016
+the Strategy Committee.
+Each Committee reports regularly to the Board of Directors, addressing
+major issues and findings with valuable recommendations for the
+decision making of the Board of Directors. The particulars of these
+Committees are set out hereunder.
+Mr. Dong Jun-qing, born in 1934, Chinese national with no right of
+abode overseas, bachelor's degree holder, and a senior engineer at
+professor level. Mr. Dong graduated from Non-Ferrous Metal and Gold
+Faculty in Moscow, USSR in 1959, with a bachelor's degree majoring
+in aluminium and magnesium metallurgy, and obtained the title of
+USSR engineer. Mr. Dong lectured at Non-Ferrous Metallurgy Faculty
+of the Northeast University (東北大學有色冶金系) in the PRC and
+researched at Beijing Non-Ferrous Research Institute (¤¤Â
+Incumbent
+150
+Xia Zuo-quan
+Non-executive director
+Incumbent
+Wang Zi-dong
+Independent non-executive Director
+Incumbent
+150
+Zou Fei
+Independent non-executive Director
+Incumbent
+150
+Zhang Ran
+Dong Jun-qing
+Independent non-executive Director
+Incumbent
+150
+Supervisor and chairman of
+Incumbent
+50
+the supervisory committee
+Li Yong-zhao
+Vice-chairman and non-executive director
+Lv Xiang-yang
+4,106
+Incumbent
+Luo Hong-bin
+Mr. Luo Hong-bin, born in 1966, Chinese national with no right of abode
+overseas, master's degree holder. Mr. Luo graduated from Air Force
+Engineering University in 1990, with a master's degree in computer
+application. Mr. Luo joined the Company in October 2003. He served
+various posts including manager of the third Electronics Sub-division of
+Division 15 and director of the Institute of Electric vehicles. He currently
+is a Vice President of the Company, general manager of Division 14,
+president of the Electric Power Research Institute and a director of BYD
+Charity Foundation.
+Wang Chuan-fang
+Mr. Wang Chuan-fang, born in 1961, Chinese national with no right
+of abode overseas, who is the elder brother of Mr. Wang Chuan-fu.
+Mr. Wang joined BYD Industries in August 1996 and held positions
+including Personnel Manager and Logistics Manager. He currently is
+general manager of Logistics Division and general manager of Rail
+Engineering Department.
+Ren Lin
+Mr. Ren Lin, born in 1967, Chinese national with no right of abode
+overseas, bachelor's degree holder, and a senior engineer. Mr.
+Ren graduated from Beijing Institute of Technology in 1989, with a
+bachelor's degree majoring in mechanical design, manufacturing and
+automation. He went to Suzuki Motor Corporation in Japan, Department
+of Automotive Engineering of Tsinghua University (#★¾¾
+I) and School of Automotive Studies of Beijing Institute of
+Technology (北京理工大學汽車學院) for multiple times for further
+study in automotive design and manufacturing during his terms of
+office. Mr. Ren once worked in Shanxi Qinchuan Motor Co., Ltd. (
+#). He joined the Company in January 2003
+and held positions as manager of Overall Department of Automotive
+Engineering Institute (), manager of vehicle
+model project and executive Vice President. He is also a member of
+Guangdong Standardization Technical Committee (
+*¶¯), and now serves as dean of Light Rail Research
+Institute () of the Company.
+Li Qian
+Mr. Li Qian, born in 1973, Chinese national with no right of abode
+overseas, master's degree holder. Mr. Li graduated from Jiangxi
+University of Finance and Economics (I) in 1997, with a
+bachelor's degree in economics. He graduated from Guanghua School
+of Management of the Peking University (北京大學光華管理學院)
+with an MBA in July 2016. Mr. Li was the auditor and business adviser
+of PwC China and Arthur Andersen, respectively, and the securities
+business representative of ZTE Corporation (ĦRA
+). Mr. Li joined the Company in August 2005 and is the secretary to
+the Board and Company Secretary of the Company. He is also a joint
+company secretary of BYD Electronic (International) Company Limited
+(stock code: 0285) and a supervisor of Tibet Shigatse Zhabuye Lithium
+High-Tech Co., Ltd ().
+Zhou Ya-lin
+Supervisor
+Ms. Zhou Ya-lin, born in 1977, Chinese national with no right of abode
+overseas, bachelor's degree holder. Ms. Zhou graduated from Jiangxi
+University of Finance and Economics () in 1999, with
+a bachelor's degree in economics. Ms. Zhou joined BYD Industries in
+March 1999 and is the Chief Accountant of the Company. She is also
+the chief financial officer of BYD Electronic (International) Company
+Limited, a director of Shenzhen BYD Electric Car Investment Co., Ltd.
+(深圳市比亞迪電動汽車投資有限公司), a director of Shenzhen
+26
+BYD Company Limited Annual Report 2016
+Directors, Supervisors and Senior Management
+Dicheng New Energy Co., Ltd () and a director of Shenzhen Qianhai Green Transportation Co., Ltd. (e
+交通有限公司), a supervisor of Shenzhen BYD International Financial Leasing Co., Ltd (深圳比亞迪國際融資租賃有限公司), a director of BYD
+Auto Finance Company Limited (X2), a supervisor of Hangzhou West Lake BYD New Energy Automobile Co., Ltd. (N
+湖比亞迪新能源汽車有限公司), a supervisor of Beijing Hualin Special Vehicle Co., Ltd. (北京華林特裝車有限公司), a supervisor of Xi'an
+Urban Investment Yadi Automobile Service Limited Liability Company), a supervisor of Shenzhen East Rail
+Transit Co., Ltd. (¥Â¥¤ˆ), a director of Qinghai Salt Lake BYD Resources Development Co., Ltd. (ÐA
+) and a supervisor of BYD Charity Foundation.
+Directors', supervisors' and senior management's remuneration during the reporting period
+Name
+Position
+Status of employment
+Total remuneration
+received from
+the Company
+(Unit: RMB'000)
+Wang Chuan-fu
+Chairman, Executive Director and President
+25
+Incumbent
+Huang Jiang-feng
+Supervisor
+Incumbent
+4,268
+Zhang Jin-tao
+Vice president
+Incumbent
+4,008
+Luo Hong-bin
+Vice president
+Incumbent
+4,331
+Li Qian
+Zhou Ya-lin
+Vice president
+Secretary to the Board and Company Secretary
+1,870
+Chief Accountant
+Incumbent
+1,859
+Total
+45,391
+BYD Company Limited Annual Report 2016
+27
+Corporate Governance Report
+The Board of Directors believes that good corporate governance is
+an essential element in enhancing the confidence of current and
+potential shareholders, investors, employees, business partners and the
+community as a whole. To this end, we strive to promote and uphold the
+highest standard of corporate governance.
+The Company has put in place corporate governance practices to
+comply with all the provisions and most of the recommended best
+practices of the Corporate Governance Code (the "Code") except for the
+deviation from the code provisions A.2.1 and A.6.7.
+Incumbent
+Manufacturing Technology Association (湖北省機械製造工藝協會).
+Mr. Zhang joined BYD Industries in February 2000, holding posts such
+as manager of Engineering Department, manager of Electric Vehicle
+Project Department, and general manager of Division 14 and Division
+8. He currently is a Vice President of the Company, general manager
+of Division 17, president of the Truck and Specialized Vehicle Research
+Institute () and director of Hangzhou West Lake
+BYD_New Energy Automobile Co., Ltd. (杭州西湖比亞迪新能源汽
+), director of Beijing Hualin Special Vehicle Co., Ltd. (
+#MEER) and chairman of BYD Charity Foundation.
+Liu Huan-ming
+Incumbent
+Incumbent
+550
+Wang Zhen
+Supervisor
+Incumbent
+1,859
+Yan Chen
+Supervisor
+Incumbent
+1,859
+Wu Jing-sheng
+4,378
+Vice president and Chief Financial Officer
+5,254
+Li Ke
+Vice president
+Incumbent
+4,569
+Lian Yu-bo
+Vice president
+Incumbent
+6,130
+He Long
+Vice president
+Incumbent
+Code provision A.2.1 provides that the roles of chairman and chief
+executive officer should be separate and should not be performed by
+the same individual. Mr. Wang Chuan-fu is the Chairman and Chief
+Executive Officer of the Company. The Board considers that this
+structure will not impair the balance of power and authority between the
+Board and the management of the Company. The balance of power and
+authority is ensured by the operations of the Board, which comprises
+experienced and high caliber individuals and meets regularly to discuss
+issues affecting operations of the Group. The Board believes that this
+structure is conducive to strong and consistent leadership, enabling
+the Group to make and implement decisions promptly and efficiently.
+The Board has full confidence in Mr. Wang and believes that this
+appointment to the posts of Chairman and Chief Executive Officer is
+beneficial to the business prospects of the Company.
+and Monkey King Group Company (), and was a
+member of National Welding Committee for Standardization (
+標準化委員會) and Welding Slice Technology Committee (電焊條
+✯), and the vice-chairman of Hubei Province Machinery
+BYD Company Limited Annual Report 2016
+Technology Company Limited (NR), chairman
+of Wuhu Youngy Ark Intelligence Material Company Limited (
+融捷方舟智能材料有限公司), chairman of Wuhu Youngy Ark Wise
+Technology Company Limited (蕪湖市融捷方舟智慧科技有限公
+), chairman of Shenzhen Manqian Network Technology Limited(
+圳市慢錢網絡科技有限公司),chairman of Wuhu Taihezhi
+Information System Company Limited (蕪湖泰賀知信息系統有限
+A), chairman of Wuhu Youngy Optoelectronic Material Technology
+Company Limited(蕪湖融捷光電材料科技有限公司), chairman
+of Chengdu Jieyi Electronic Technology Limited (RTN
+), vice chairman of Guangzhou Shengguang Microelectronics
+Technology Limited (廣州盛光微電子科技有限公司), chairman
+of Onyx International Inc. (廣州文石信息科技有限公司), honorary
+chairman of Anhui Chamber of Commerce in Guangdong province (
+). and vice chairman of BYD Charity Foundation.
+Xia Zuo-quan
+Mr. Xia Zuo-quan, born in 1963, Chinese national with no right of abode
+overseas, master's degree holder. Mr. Xia studied computer science in
+Beijing Institute of Iron and Steel Engineering ()(now
+known as University of Science & Technology of Beijing (ÀĦĦA
+)) from 1985 to 1987 and he graduated from Guanghua School of
+Management of Peking University (±ˆ‡‡) with
+an MBA in 2007. Mr. Xia worked in the Hubei branch of The People's
+Insurance Company (+) and joined BYD Industries
+in 1997 and held positions as an executive Director and Vice President
+of the Company. He is a non-executive Director of the Company and
+chairman of Shenzhen Zhengxuan Investment (Holdings) Co., Ltd (
+Œ&&) and Beijing Zhengxuan Investment Co.,
+Ltd (北京正軒投資有限責任公司), a director of Sinocompound
+Catalysts Co. Ltd. (formerly known as Zhangjiagang Applica Technology
+Co., Ltd.) (江蘇欣諾科催化劑有限公司, 前稱張家港雅普利
+A), a director of Shenzhen UniFortune Supply
+Chain Service Co., Ltd.(深圳市聯合利豐供應鏈管理有限公
+), chairman of Shenzhen Zhengxuan Venture Capital Co. Ltd. (
+圳市正軒創業投資有限公司), chairman of Annuo Youda Gene
+Technology (Beijing) Co. Ltd. (C)
+]), a director of Guangdong Beizhi Cepin Network Technology Co., Ltd.
+(廣東倍智測聘網路科技股份有限公司), independent director of
+China Baofeng (International) Limited (formerly known as Mastercraft
+International_Holdings Limited) (中國寶豐國際有限公司,前稱馬
+仕達國際控股有限公司), a director of Shenzhen Joint Factoring
+Co., Ltd. (深圳聯合保理有限公司) managing partner of Shenzhen
+Zhengxuan Space IT Development Partnership (Limited Partnership) (
+圳正軒空間信息技術開發合夥企業(有限合夥)),chairman
+of Shenzhen Zhengxuan Qianhai Equity Investment Fund Management
+Co., Ltd (深圳正軒前海股權投資基金管理有限公司),executive
+(managing) director of Shenzhen Zhengxuan Makerspace Technology
+Limited (深圳市正軒創客空間科技有限公司), chairman of
+Shenzhen Dichuanghui Technology Limited (深圳市迪創會科技有
+A) and vice chairman of BYD Charity Foundation.
+Independent Non-executive Directors
+Wang Zi-dong
+Mr. Wang Zi-dong, born in 1958, Chinese national with no right of
+abode overseas, bachelor's degree holder and a senior engineer. Mr.
+Wang graduated from Beijing Industrial Institute (currently known as
+Beijing Institute of Technology) (北京工業學院(現北京理工大
+)) in 1982 with a bachelor's degree in engineering. Mr. Wang has
+been an independent Director of the Company since September 2014
+and now serves as a researcher in China North Vehicle Research
+Institute (t), a director of China North Vehicle
+Research Institute (Battery Test Center of National 863 Electric Vehicle)
+(中國北方車輛研究所(國家863電動車動力電池測試中
+C)), an independent non-executive director of Cangzhou Mingzhu
+Plastic Material Co., Ltd (滄州明珠塑料股份有限公司) and
+Shenzhen Yinghe Polytron Technologies Inc. (AN
+), and an independent director of Beijing Easpring Material
+Technology Co., Ltd (北京當升材料科技股份有限公司).
+Zou Fei
+Mr. Zou Fei, born in 1973, Chinese national, doctoral degree holder,
+chartered financial analyst, member of Chinese Finance Association
+of America, and expert listed in "Thousand Talents Program" of the
+Organisation Department of the CPC Central Committee. Mr. Zou
+graduated from University of Texas in the United States with a master's
+degree in economics and a doctorate in finance. Mr. Zou served as a
+fund manager of American Century Investments and was managing
+director of the special investment department of China Investment
+Corporation (¶¶¶¯). He has also served in other
+capacities including as the former chairman of the board of Chinese
+Finance Association of America and the former board observer of Noble
+Group of Singapore. He has been as an independent Director of the
+Company since September 2014 and now serves as the president of
+Synergy Capital and an independent director of Delta Dunia Makmur
+TBK PT in Indonesia. He is also an independent director of China
+Modern Dairy Holdings Ltd. (中國現代牧業控股有限公司).
+22
+BYD Company Limited Annual Report 2016
+Directors, Supervisors and Senior Management
+Zhang Ran
+Ms. Zhang Ran, born in 1977, Chinese national with no right of abode
+overseas, doctoral degree holder and associate professor. Ms. Zhang
+graduated from Beijing Jiao Tong University () in 2002 with
+a bachelor degree of accountancy and a master degree in economics. She
+obtained a doctoral degree in accountancy from Leeds School of Business,
+University of Colorado at Boulder. Ms. Zhang held positions as a part-time
+lecturer in Leeds School of Business, University of Colorado at Boulder, and
+as an accounting and auditing tax commissioner in Bill Brooks CPA, Boulder,
+CO, USA. She has been an independent director of the Company since
+September 2014 and now serves as an associate professor of accounting
+and doctoral tutor in Guanghua School of Management of Peking University
+(北京大學光華管理學院), an independent director of Beijing Novogene
+Technology Co., Ltd. (北京諾禾致源科技股份有限公司) and an
+independent director of DMG Entertainment and Media Co., Ltd. (
+樂傳媒股份有限公司).
+(安華農業保險股份有限公司), chairman of Youngy Education
+A), director of Anhua Agricultural Insurance Company Limited
+Guangdong Rongda Financial Trading Limited (
+Directors, Supervisors and Senior Management
+6
+Continuous Development
+Move Ahead
+Steadily
+20
+BYD Company Limited Annual Report 2016
+Directors, Supervisors and Senior Management
+Executive Director
+Wang Chuan-fu
+Mr. Wang Chuan-fu, born in 1966, Chinese national with no right of
+abode overseas, master's degree holder, senior engineer, younger
+brother of Mr. Wang Chuan-fang and younger cousin of Mr. Lv
+Xiang-yang. Mr. Wang graduated from Central South University of
+Technology (*) (currently Central South University)
+in 1987 with a bachelor's degree majoring in metallurgy physical
+chemistry, and then graduated from Beijing Non-Ferrous Research
+Institute (¿ÂƒÀ¼À) in the PRC in 1990 with a
+master's degree majoring in metallurgy physical chemistry. Mr. Wang
+held positions as vice supervisor in Beijing Non-Ferrous Research
+Institute, general manager in Shenzhen Bi Ge Battery Co. Limited (
+). In February 1995, he founded Shenzhen
+BYD Battery Company Limited (深圳市比亞迪實業有限公司)
+("BYD Industries", became BYD Company Limited on 11 June 2002)
+with Mr. Lv Xiang-yang and took the position of general manager. He is
+the Chairman, an Executive Director and the President of the Company
+and is responsible for the general operations of the Group and the
+development of business strategies for the Group. He is a non-executive
+director and the chairman of BYD Electronic (International) Company
+Limited, a director of Shenzhen DENZA New Energy Automotive Co., Ltd.
+(深圳騰勢新能源汽車有限公司) (formerly known as Shenzhen
+BYD Daimler New Technology Co., Ltd.MOD
+vice chairman of Shenzhen Pengcheng Electric
+Automobiles Renting Co. Ltd. (深圳市鵬程電動汽車出租有限公
+]), a director of Tianjin BYD Auto Co., Ltd. (XOR
+A), chairman of Sheng Shi Xin Di Electric Automobile Service Co.,
+Ltd (盛世新迪電動汽車服務有限公司), an independent director
+of Renren Inc., a director of South University of Science and Technology
+of China () and a director of BYD Charity Foundation.
+Mr. Wang, being a technology expert, enjoyed special allowances
+Supervisors
+from the State Council. In June 2003, he was awarded Star of Asia
+by BusinessWeek. He was awarded with Mayor award of Shenzhen in
+2004 (E), "The 2008 CCTV Man of the
+Year China Economy Innovation Award" (=\CCTV+
+濟年度人物年度創新獎), Southern Guangdong Meritorious Service
+Award (in 2011, and Zayed Future Energy Prize Lifetime
+Achievement Award (扎耶德未來能源獎個人終身成就獎) in
+2014 and Best Business Leader in China (+) in
+Non-executive Directors
+Lv Xiang-yang
+Mr. Lv Xiang-yang, born in 1962, Chinese national with no right of
+abode overseas, bachelor's degree holder, economist and elder cousin
+of Mr. Wang Chuan-fu. Mr. Lv worked at Chaohu Centre Branch of the
+People's Bank of China (+ŒÙÍ). In February
+1995, he founded BYD Industries with Mr. Wang Chuan-fu. He is the
+Vice Chairman and a Non-Executive Director of the Company and also
+the chairman of Youngy Investment Holding Group Co., Ltd.
+投資控股集團有限公司), Youngy Co., Ltd (融捷股份有限公
+), and Guangdong Youngy Financing Guarantee Company Limited
+(RAIA), executive director of Shenzhen
+Youngy Guarantee Company Limited (
+B), executive director of Guangdong Youngy Financing Service
+Company Limited (廣東融捷融資服務有限公司),chairman of
+Guangdong Youngy Financing Renting Company Limited (
+R), executive director of Guangdong Youngy
+Optoelectronics Technology Co., Ltd (AIN),
+chairman of Hefei Youngy Technology Industrial Company Limited (A
+), executive director of Guangdong Youngy
+Supply Chain Management Co., Ltd (
+]), chairman of Shenzhen Youngy Asset Management Co., Ltd (
+A), executive director of Shenzhen Qianhai
+Youngy Financial Services Company Limited
+WÊR
+), executive director of Shenzhen Youngy Internet Financial
+Services Company Limited (深圳融捷互聯網金融服務有限公
+), executive director of Shenzhen Qianhai Youngy High Technology
+Investment Company Limited (深圳前海融捷高新技術投資有限
+公司), chairman of Huaxun Fangzhou Co., Ltd (華訊方舟股份有限
+A), chairman of Hainan Shiyin Energy Technology Co., Ltd (
+世銀能源科技有限公司), chairman of Shenzhen Huaxun Fangzhou
+Technology Co.,Ltd (深圳市華訊方舟科技有限公司), director
+of Xinjiang Tianhai Tenghui Technology Co., Ltd (OKEN
+技股份有限公司),vice chairman of Guangzhou OED Technologies
+Co., Ltd (廣州奧翼電子科技有限公司), chairman of Anhui
+Youngy Investment Co., Ltd (), executive
+director of Guangdong Youngy Asset Management Co., Ltd (
+#Ẫ¥ÁRA), executive director of Guangzhou Youngy
+Venture Capital Co., Ltd (ĦRAƑ]), executive
+director of Shenzhen Qianhai Youngy Supply Chain Factoring Services
+Co., Ltd (深圳前海融捷供應鏈保理服務有限公司),executive
+director of Guangzhou Youngy Equity Investment Co., Ltd (
+捷股權投資有限公司),vice chairman of Guangzhou Shengguang
+Microelectronics Limited (廣州盛光微電子有限公司),director of
+BYD Company Limited Annual Report 2016
+21
+24
+2015 etc.
+Dong Jun-qing
+) and was engaged in research and development work
+in our Company. He has been a Supervisor and the chairman of the
+Supervisory Committee since July 2002.
+Li Yong-zhao
+23
+24
+BYD Company Limited Annual Report 2016
+Directors, Supervisors and Senior Management
+(Shenzhen) Co., Ltd. (+(
+]), the chairman of Shenzhen BYD International Financial Leasing Co.,
+Ltd (深圳比亞迪國際融資租賃有限公司), a director of Shenzhen
+Shendianneng Electricity Co., Ltd. (TÆTTARA),
+chairman of Shenzhen Didi New Energy Vehicle Rental Co., Ltd. (
+市迪滴新能源汽車租賃有限公司), chairman of BYD Auto Finance
+Company Limited (比亞迪汽車金融有限公司), chairman of Energy
+Storage Power Station (Hubei) Co., Ltd. ()
+A), a director of Shenzhen Easy Charging Technology Co., Ltd. (
+圳充電易科技有限公司), chairman of Nanjing Zhongbei Didi New
+Energy Vehicle Rental Service Co., Ltd. (
+A), executive director and general manager of
+Hangzhou BYD Vehicle Rental Co., Ltd. (
+A), a director of BYD Charity Foundation.
+Li Ke
+Ms. Li Ke, born in 1970, Chinese national with the right of abode in the
+US, bachelor's degree holder. Ms. Li graduated from Fudan University
+in 1992 with a bachelor's degree in statistics. Ms. Li worked at Asia
+Resources () and joined BYD Industries in September 1996.
+She served various positions including Marketing Manager and General
+Sales Manager, executive director and chief executive officer of BYD
+Electronic (International) Company Limited and is a Vice President of the
+Company and a director of BYD Charity Foundation.
+), a Supervisor of Qianhai Insurance Exchange Centre
+Lian Yu-bo
+) in July 1986, with a bachelor's degree majoring
+in aircraft manufacturing engineering. In September 2000, he obtained
+a professional MBA degree from Nanjing University. Mr. Lian joined the
+Company in February 2004 and is a Vice President of the Company,
+chief engineer of the automobile business. He is also a director of
+Shenzhen DENZA New Energy Automotive Co., Ltd. (KÆ
+2) (formerly known as Shenzhen BYD Daimler New
+Technology Co., Ltd. (深圳比亞迪戴姆勒新技術有限公司)) and a
+director of BYD Charity Foundation.
+He Long
+Mr. He Long, born in 1972, Chinese national with no right of abode
+overseas, master's degree holder. Mr. He graduated from Peking
+University in 1999 and obtained a bachelor's degree of science in
+applied chemistry, an LLB and a master's degree in inorganic chemistry.
+Mr. He joined BYD Industries in July 1999 and held positions as quality
+control manager of Division 1 and Division 2, deputy general manager
+of Division 2 and vice-chairman of Foshan Jinhui Hi-Tech Optoelectronic
+Material Co., Ltd. (U¾¾XIMHARA). He is
+a Vice President of the Company, general manager of Division 2, a
+director of Tibet Shigatse Zhabuye Lithium High-Tech Co., Ltd. (
+喀則紮布耶鋰業高科技有限公司), a director of Qinghai Salt Lake
+BYD Resources Development Co., Ltd. (OILEDƑH¾
+A) and a director of BYD Charity Foundation.
+Liu Huan-ming
+Mr. Liu Huan-ming, born in 1963, Chinese national with no right of
+abode overseas, master's degree holder, and a senior engineer. Mr.
+Liu graduated from Northeastern Institute of Technology (I
+) (currently known as "Northeastern University") in 1988 with a
+bachelor's degree and later a master's degree in Metallurgical physics.
+Mr. Liu worked for the Iron and Steel Institute of Panzhihua Iron and
+Steel Company in Sichuan (四川攀枝花鋼鐵公司鋼鐵研究院) and
+Benxi Iron and Steel Company in Liaoning (). He
+joined BYD Industries in March 1997, currently being a Vice-President
+of the Company, general manager of Human Resources Office and
+Department of New Energy Vehicle Direct Sale Management, and a
+director of BYD Charity Foundation.
+Zhang Jin-tao
+Mr. Zhang Jin-tao, born in 1958, Chinese national with no right of
+abode overseas, bachelor's degree holder, and a senior engineer. Mr.
+Zhang graduated from Wuhan Institute of Technology (I
+E) (currently known as "Wuhan University of Technology") in 1982,
+majoring in casting process and equipment, with a bachelor's degree in
+engineering. From April 1997 to February 1998, he went to Fukushima
+Hightech Center in Japan for further study. Mr. Zhang worked for
+several companies, including state-owned Factory 612, Factory 446
+Mr. Lian Yu-bo, born in 1964, Chinese national with no right of abode
+overseas, master's degree holder, and a senior engineer. Mr. Lian
+graduated from Nanjing University of Aeronautics and Astronautics (
+Directors, Supervisors and Senior Management
+) and obtained qualification as a PRC Certified Public
+Accountant in 1995. In July 2006, he graduated from Guanghua School
+of Management of the Peking University (¥*#*!!
+E) with an MBA. Mr. Wu worked at Guangzhou Youngy Management
+& Investment Group Company Limited (4£!
+A) and was responsible for finance and related duties. He
+joined BYD Industries in September 1995 as its financial manager. He
+is the Senior Vice President and Chief Financial Officer of the Company,
+and held various positions including a non-executive director of BYD
+Electronic (International) Company Limited, a director of Tibet Shigatse
+Zhabuye Lithium High-Tech Co., Ltd. (*
+Wu Jing-sheng
+Mr. Li Yong-zhao, born in 1961, Chinese national with no right of abode
+overseas, bachelor's degree holder, and a researcher level senior
+engineer. Mr. Li graduated from Xi'an Institute of Technology (
+I) in August 1982 with a bachelor's degree in Mechanical
+Manufacturing Technology and Equipment. Mr. Li worked as technician,
+office head, deputy director, director, deputy plant manager and held
+other posts in state-owned, 615 Factory, China Industries Group
+Corporation (中國兵器工業集團公司). He also acted as the
+general manager of the Sino-foreign joint venture named Baoji Xingbao
+Machinery & Electric Co., Ltd. (), plant manager
+of state-owned Factory 843 since May 2002, director and general
+Imanager of Xi'an Northern Qinchuan Machinery Corporation Co., Ltd.
+(西安北方秦川機械工業有限公司), director and the general
+manager of Xi'an Northern Qinchuan Company Ltd. (ŁÑ¾)||
+). He has been a Supervisor of the Company since June
+2008 and now serves as the deputy general manager of China North
+Industries Group Corporation (中國兵器西北工業集團有限公司)
+and the chairman of Xi'an Northern Qinchuan Company Ltd. (
+方秦川集團有限公司).
+Wang Zhen
+Ms. Wang Zhen, born in 1976, Chinese national with no right of
+abode overseas, bachelor's degree holder. Ms. Wang graduated from
+Guangdong University of Foreign Studies (廣東外語外貿大學)
+(formerly known as Guangzhou Institute of Foreign Languages (
+)) in the PRC in 1998, majoring in Spanish language and
+obtained a bachelor degree. Ms. Wang joined BYD Industries in 1998
+and has been working in the President's office. She is a Supervisor
+of the Company and officer of the President's office, a supervisor of
+Shenzhen Qianhai Green Transportation Co., Ltd. (
+), a supervisor of Shenzhen Shendianneng Electricity
+Co., Ltd (深圳市深電能售電有限公司),supervisor of East
+Shenzhen Rail Transportation Company Limited, supervisor of Qinghai
+Salt Lake BYD Resources Development Co., Ltd. (
+) and Secretary-General of BYD Charity Foundation.
+BYD Company Limited Annual Report 2016
+Mr. Wu Jing-sheng, born in 1963, Chinese national with no right of
+abode overseas, master's degree holder. Mr. Wu graduated from Anhui
+Normal University (9), majoring in Chinese language.
+He took part in National Examination for Lawyers (A)
+and obtained qualification as a lawyer from the Department of Justice
+of Anhui Province () in 1992. Mr. Wu also passed
+the National Examination for Certified Public Accountants (ỀÌ
+Directors, Supervisors and Senior Management
+Ms. Yan Chen, born in 1977, Chinese national with no right of abode
+overseas, bachelor's degree holder. Ms. Yan graduated from Beijing
+University of Aeronautics & Astronautics) in
+July 2000 with a bachelor's degree. Ms. Yan joined BYD Industries in
+2000 and held positions as system engineer, secretary to the president,
+chief office director of the management department of Shanghai BYD
+Company Limited(上海比亞迪有限公司), manager of the regional
+administration department for Shanghai and Xi'an. She is a Supervisor
+of the Company and the chief executive officer of Shenzhen DENZA
+New Energy Automotive Co., Ltd. (深圳比亞迪戴姆勒新技術有限
+A) (formerly known as Shenzhen BYD Daimler New Technology Co.,
+Ltd. (深圳比亞迪戴姆勒新技術有限公司)) and also a supervisor
+of BYD Charity Foundation.
+Huang Jiang-feng
+Mr. Huang Jiang-feng, born in 1980, Chinese national with no right
+of abode overseas, bachelor's degree holder. Mr. Huang graduated
+from Zhongnan University of Economics and Law (+UKE
+) in 2003 with a bachelor's degree in administration. Mr. Huang
+held positions in Sinopec Chenzhou Petroleum Branch in Hunan (+
+), Dongguan Hsu Fu Chi Foods Co.,
+Ltd. () and Guangzhou Office of Guosen
+Securities (N). He has been working in Youngy
+Investment Holding Group Co., Ltd. (RA
+) since August 2008, and has been a supervisor of the Company
+since September 2014 and now serves as a director and vice president
+of Youngy Investment Holding Group Co., Ltd. (#R
+), general manager of Shenzhen Qianhai Youngy Financial
+Services Company Limited (深圳前海融捷金融服務有限公司),
+a supervisor of Shenzhen Qianhai Youngy High Technology Investment
+Company Limited (深圳前海融捷高新技術投資有限公司), a
+supervisor of Shenzhen Youngy Internet Financial Services Company
+Limited (深圳融捷互聯網金融服務有限公司),director and
+manager of Guangdong Youngy Financing Renting Company Limited (
+東融捷融資租賃有限公司), general manager of Shenzhen Qianhai
+Youngy Supply Chain Factoring Services Co., Ltd (
+), manager of Guangdong Youngy Equity
+Investment Co., Ltd (), manager of
+Guangdong Youngy Financing Service Company Limited (
+RA), manager of Guangdong Youngy Supply Chain
+Management Co., Ltd (IR).
+Senior Management
+Yan Chen
+Code provision A.6.7 stipulates that independent non-executive
+Directors and non-executive Directors should attend general meetings.
+Due to important business engagements and logistics reasons at
+the relevant time, not all independent non-executive Directors and
+non-executive Directors attended the annual general meeting of the
+Company held on 6 June 2016 and the extraordinary general meeting
+held on 1 November 2016.
+150
+Board of Directors
+Training/seminars
+participated Reading materials
+Independent
+Non-executive Director
+WANG Zi-dong
+12/12
+0/1
+0/1
+ZOU Fei
+12/12
+0/1
+1/1
+ZHANG Ran
+12/12
+0/1
+Executive Director
+Mr. Wang Chuan-fu
+Non-executive Director
+During the reporting period, except for the deviation from code
+provisions A.2.1 and A.6.7 as explained above, the Directors are of the
+opinion that the Company had complied with all applicable provisions of
+the Code.
+the Nomination Committee; and
+the Remuneration Committee;
+the Audit Committee;
+In furtherance of good corporate governance, the Board has set up a
+number of committees, including:
+✓
+0/1
+✓
+Mr. Zou Fei
+Mr. Wang Zi-dong
+Non-executive Director
+Independent
+Mr. Xia Zuo-quan
+Mr. Lv Xiang-yang
+Ms. Zhang Ran
+1/1
+0/1
+0/1
+Newly appointed Directors of the Company will be provided with
+relevant induction materials to assist them to fully understand their
+duties as a director under the requirements of the relevant laws
+and regulations, such as the Listing Rules. This will also help the
+directors to gain insights in the Company's business and operation. In
+order to ensure adequate performance of duties by the independent
+non-executive Directors, the Company will also arrange on-site
+visits and sufficient communication with the management for the
+independent non-executive Directors. Pursuant to the corporate
+governance requirements, the Directors should participate in continuous
+professional development programme to develop and update their
+knowledge and skills. The particulars of the trainings of each Director
+are as follow:
+Continuous Professional Development of
+Directors
+In accordance with the Company's Articles of Association and related
+Board resolutions, each Board member and each member of the
+Supervisory Committee is appointed for a term of 3 years, being the
+period from 10 September 2014 to 10 September 2017.
+Corporate Governance Report
+28
+The Directors decide on corporate strategies, approve overall business
+plans and supervise the Group's financial performance, management
+and organization on behalf of the shareholders. Specific tasks that the
+Board delegates to the Group's management included the preparation
+of annual and interim accounts for the Board's approval before public
+reporting; implementation of strategies approved by the Board; the
+implementation of internal control procedures; and the ensuring of
+compliance with relevant statutory requirements and other regulations
+and rules.
+Name of Director
+The Board met twelve times this year to discuss the Group's overall
+strategy, operation, financial performance and review the status of
+regulatory compliance. The Board also ensures that it is supplied
+in a timely manner with all necessary information in a form and of
+a quality appropriate to enable it to discharge its duties. All Board
+meetings adhere to a formal agenda in which a schedule of matter is
+specifically addressed to the Board for its decision. Topics discussed
+at these Board meetings include quarterly, interim and annual results;
+recommendations on the remuneration of Directors and supervisors,
+recommendations of auditors, approval of major capital project;
+dividend policies; and other significant operational and financial matters.
+The Company has received from each of the independent non-executive
+Directors an annual confirmation of his independence as required under
+the Rules Governing the Listing of Securities on the Hong Kong Stock
+Exchange (the "Listing Rules"). The Company considers all independent
+non-executive Directors to be independent.
+The Group believes that its non-executive and independent
+non-executive Directors composition are well balanced with each
+Director having sound knowledge, experience and/or expertise
+relevant to the business operations and development of the Group. All
+Directors are aware of their collective and individual responsibilities to
+the Shareholders and have exercised their duties with care, skill and
+diligence, contributing to the successful performance of the Group for
+the Year under review.
+As of the date of this report, the Board comprises six Directors. There
+is one executive Director who is the President, two non-executive
+Directors and three independent non-executive Directors. Detailed
+biographies outlining each individual Director's range of specialist
+experience and suitability of the successful long-term running of the
+Group are set out on page 20 to page 22 of this annual report.
+The Directors
+12/12
+Accountable to the Shareholders, the Board of Directors is collectively
+responsible for formulating the strategic business direction of the Group
+and setting objectives for management, overseeing its performance and
+assessing the effectiveness of management strategies. The Board is
+also responsible for, and has during the Year performed the corporate
+governance duties set out in code provision D.3.1 of the Code (including
+the determining of the corporate governance policy of the Company).
+The Company has arranged appropriate insurance cover in respect
+of legal actions against its Directors and senior management with the
+extent of this insurance being reviewed each year.
+Board Meetings
+BYD Company Limited Annual Report 2016
+To ensure the highest attendance of Directors, written notices are sent
+to all Directors 14 days before a regular board meeting; written notices
+are sent to all Directors 2 days before a provisional board meeting.
+The meeting agenda is set in consultation with members of the Board.
+The Board held twelve meetings in 2016. The attendance of individual
+Director at the Board meetings as well as general meetings in 2016 is
+set out below:
+12/12
+Non-executive Director
+LV Xiang-yang
+XIA Zuo-quan
+등등
+0/1
+1/1
+12/12
+Executive Director
+WANG Chuan-fu
+1/1
+Meeting
+Board Meeting
+Members of the Board
+Extraordinary
+General
+General
+Annual
+Meeting
+RMB3 million to RMB6.5 million
+The selection of candidate will be based on a range of diversity
+elements. The final decision will be made according to the strengths of
+the candidate and his/her contribution that would bring to the Board.
+RMBO to RMB3 million
+Remuneration by bands
+Remuneration of Senior Management During the Year
+The Nomination Committee has performed the above duties during the
+Year.
+The Board has adopted the Diversity Policy, which sets out the approach
+to diversity of Board members. In determining the Board composition,
+the Board and Nomination Committee consider a range of diversity
+elements, including but not limited to gender, age, cultural and
+education background, professional experience, skills and knowledge.
+All appointments of the Board will be made based on merit and
+objective criteria while taking into full account of the interest of Board's
+diversity.
+Corporate Governance Report
+The emoluments paid to each Director of the Company for the year
+ended 31 December 2016 are set out in note 9 to the financial
+statements.
+Directors do not participate in decisions on their own remuneration.
+The primary goal of the Group's remuneration policy for executive
+Directors is to enable the Company to retain and motivate executive
+Directors by linking their compensation with their individual
+performance as measured against the corporate objectives and the
+Group's operating results and taking into account of comparable market
+conditions. The principal elements of the remuneration package of
+executive Directors include basic salary and discretionary bonus. The
+remuneration of non-executive Directors includes mainly the Director's
+fee. The Company reimburses reasonable expenses incurred by
+Directors in the course of their carrying out of duties as Directors.
+Remuneration Policy for Directors
+BYD Company Limited Annual Report 2016
+Number of
+The Board's Diversity Policy
+senior
+2015
+2 8
+30
+RMB1,050,000
+RMB100,000
+2016
+Item
+For the year ended 31 December 2016, the total remuneration paid
+to the international auditors, Ernst & Young and the domestic auditors,
+Ernst & Young Hua Ming (LLP), was RMB7,000,000 for audit services
+and non-audit services provided for the Company and its subsidiaries.
+The audit fee was approved by the Board. During the reporting period,
+the total remuneration in respect of the non-audit services provided was
+RMB1,150,000.
+Independent Auditors and their Remuneration
+Corporate Governance Report
+management
+31
+Mr. Li Qian, Company Secretary of the Company, is a full-time staff
+of the Group, and is familiar with the daily affairs of the Company.
+During the financial year, the Company Secretary had complied with
+the relevant professional training requirements under Rule 3.29 of the
+Listing Rules. The biographical details of the Company Secretary are set
+out in the section "Directors, Supervisors and Senior Management" in
+this annual report.
+Company Secretary
+The Group established the Strategy Committee on 20 March 2008. As
+at 31 December 2016, the Strategy Committee comprised Mr. Wang
+Chuan-fu, Mr. Lv Xiang-yang, Mr. Xia Zuo-quan, Mr. Wang Zi-dong and
+Mr. Zou Fei, with Mr. Wang Chuan-fu as the chairman. The main duty of
+the Strategy Committee is to consider and make recommendations on
+the Company's long-term development strategy and major investment
+decisions.
+Strategy Committee
+The Group has established the Nomination Committee. As at 31
+December 2016, the Nomination Committee comprises Mr. Wang
+Chuan-fu, Mr. Lv Xiang-yang, Mr. Wang Zi-dong, Mr. Zou Fei and Ms.
+Zhang Ran, with Mr. Wang Zi-dong as the chairman. The Nomination
+Committee has been delegated with the powers and authorities
+to review the structure, size and composition of the Board, make
+recommendation to the Board on selection of individuals nominated for
+directorships and senior management, appointment and reappointment
+of Directors and succession planning for Directors and assess the
+independence of independent non-executive Directors and determine
+the policy for the nomination of Directors.
+Nomination Committee
+The above table has included Mr. Wang Chuan-fu, the executive Director,
+who is also a senior management of the Company, but has not included
+Mr. Wang Chuan-fang and Mr. Ren Lin who became senior management
+of the Group after the Year from 3 January 2017.
+BYD Company Limited Annual Report 2016
+100%
+percentage of
+ZOU Fei
+500,000 (L)
+(Note 1)
+Mr. Xia Zuo-quan
+(Director)
+0.04%
+0.11%
+1,000,000 (L)
+Mr. Wang Chuan-fu
+(Director)
+share capital (%)
+total issued
+shareholding in
+shareholding in
+percentage of
+RMB1,003,000
+RMB48,000
+Approximate
+Approximate
+total issued
+A shares (%)
+0.05%
+4
+0.02%
+162,681,860 (L)
+100%
+4
+WANG Zi-dong
+100%
+4
+ZHANG Ran
+100%
+4
+LV Xiang-yan
+Attendance Rate
+Attended
+the Audit Committee
+Meetings
+Member of
+Committee
+Youngy Investment
+(Note 1)
+The Directors have acknowledged their responsibilities for preparing the
+consolidated financial statements of the Company for the year ended 31
+December 2016.
+Annual Review
+The Board has proposed to re-appoint Ernst & Young as the
+international auditor of the Company for 2017 and Ernst & Young
+Hua Ming (LLP) as the domestic auditors for 2017, which is subject
+to approval by shareholders at the forthcoming annual general
+meeting. There was no disagreement between the Board and the Audit
+Committee on the selection and reappointment of the external auditor
+during the year under review.
+The directors of the Company ("Board") submit their report together
+with the audited consolidated accounts of BYD Company Limited (the
+"Company") and its subsidiaries (together with the Company hereinafter
+collectively referred to as the "Group") for the year ended 31 December
+2016.
+Report of the Directors
+BYD Company Limited Annual Report 2016
+34
+On 30 September 2016, the Company adopted a new set of Articles of
+Association which mainly updated the business scope and registered
+capital of the Company.
+The Company believes that effective communication with investors is
+essential for enhancing investors' knowledge and understanding of the
+Company. To achieve this, the Company pursues a proactive policy of
+promoting investor relations and communications. The main purpose
+of the Company's investor relations policy, therefore, is to enable
+investors to have access, on a fair and timely basis, to information that
+is reasonably required for making the best investment decisions.
+Investor Relations
+Shareholders may send their requisitions and enquiries requiring
+the Board's attention to the Company Secretary at the Company's
+principal place of business in Hong Kong. Other general enquiries can
+be directed to the Company through our Investor and Media Relations
+Consultant, whose contact information is disclosed in "Corporate
+Information" of this annual report.
+Further, pursuant to the Company's Articles of Association, Shareholders
+individually or jointly holding no less than 3% of the Company's shares
+may submit an extempore proposal to the convener of a general
+meeting in writing ten days prior to date of the meeting. The convener
+shall dispatch a supplementary notice of general meeting and announce
+the contents of such extempore proposal within two days upon receipt
+of the proposal.
+Under the Company's Articles of Association, any one or more
+Shareholders holding not less than one-tenth of the paid up capital of
+the Company carrying the right of voting at general meetings of the
+Company shall at all times have the right, by written requisition to the
+Board to require an extraordinary general meeting to be called by the
+Board for considering any matters specified in such requisition.
+Shareholders' Rights
+Specified employees who are likely to be in possession of inside
+information of the Group are also subject to compliance with the Model
+Code. No incident of non-compliance was noted by the Company in
+2016.
+The Company has adopted the Model Code for Securities Transactions
+by Directors of Listed Issuers (the "Model Code") contained in Appendix
+10 of the Listing Rules as the Company's code of conduct regarding
+securities transactions by its Directors. Having made specific enquiry
+of all Directors, the Company confirmed all Directors have complied
+with their obligations under the Model Code regarding their securities
+transactions during the Year.
+Directors' Securities Transactions
+The Group has put in place a set of policy for the disclosure of inside
+information which sets out the procedures and internal controls for the
+handling and dissemination of inside information in a timely manner and
+in compliance with the Securities and Futures Ordinance. The policy and
+its effectiveness are subject to review on a regular basis.
+Principal Activities and Geographical Analysis
+of Operations
+The principal activities of the Group are rechargeable battery and
+photovoltaic business, handset components and assembly business as
+well as automobile business (including traditional fuel-powered vehicles
+and new energy vehicles). The activities of the Company's subsidiaries
+are set out in note 1 to the financial statements. There were no
+significant changes in the nature of the Group's principal activities for
+the year ended 31 December 2016. Further discussion and analysis
+of principal activities are set out in the Management Discussion and
+Analysis on pages 10 to 15 of the annual report.
+An analysis of the Group's performance for the year ended 31
+December 2016 by business and geographical segments is set out in
+Note 4 to the financial statements.
+Results and Appropriations
+2.
+Saved as disclosed above, as at 31 December 2016, none of the
+Directors, supervisors or chief executives of the Company had an
+interest or short position in the shares, underlying shares or debentures
+of the Company or any of its associated corporations (within the
+meaning of Part XV of the SFO) which was required to be (a) recorded in
+the register to be kept by the Company pursuant to Section 352 of the
+SFO; or (b) notified to the Company and the Hong Kong Stock Exchange
+pursuant to the Model Code for Securities Transactions by Directors of
+Listed Issuers.
+Of the 500,000 H shares, 195,000 H shares were held by Mr. Xia as a
+beneficial owner and 305,000 H shares were held by Sign Investments
+Limited, which was wholly-owned by Mr. Xia.
+1.
+1.
+Note:
+Note:
+Disclosure of Inside Information
+(L) - Long Position
+5.96%
+8.97%
+The final dividend will be denominated and declared in RMB. The
+holders of A shares will be paid in RMB and the holders of H shares will
+be paid in Hong Kong dollars. The exchange rate for the dividend to be
+paid in Hong Kong dollars will be the mean of the exchange rates of
+Hong Kong dollars to RMB as announced by the People's Bank of China
+during the five business days prior to the date of declaration of the
+dividend at the AGM.
+The Company will publish announcement, circular and notice of general
+meeting regarding the AGM in accordance with the Listing Rules and
+the articles of association of the Company. The Company will also
+make separate announcement regarding the record date and date of
+closure of register of members for the payment of the final dividend
+to the holders of H shares. It is expected that the final dividend will be
+distributed before 31 August 2017.
+The Board has resolved to recommend the payment of final dividend of
+RMBO.178 per share (including tax) for the year ended 31 December
+2016 (for the year ended 31 December 2015: nil). The proposed
+final dividend is subject to the consideration and approval of the
+shareholders at the forthcoming annual general meeting (the "AGM") of
+the Company.
+The Company paid an interim cash dividend of RMBO.367 per share
+(including tax) to shareholders during the year (for the six months ended
+30 June 2015: nil), with its total dividends amounting to approximately
+RMB1,001,228,000.
+The results of the Group for the year ended 31 December 2016 are set
+out in the consolidated financial statements and their notes on page 47
+to page 131 of this annual report.
+(L) - Long Position
+The statement of external auditor of the Company about his reporting
+responsibilities on the Company's consolidated financial statements
+for the year ended 31 December 2016 is set out in the section headed
+"Independent Auditor's Report" in this annual report.
+The Group has an Internal Audit Department which, equipped with
+independent internal audit system, plays an important role in the
+Group's risk management and internal control framework. The Internal
+Audit Department reports directly to the Audit Committee. The annual
+and quarterly work plans of the Internal Audit Department are reviewed
+by the Audit Committee and reported to the Audit Committee regularly.
+Major audit findings will be reported on timely basis. Based on its
+consideration, the Audit Committee will provide advices to the Board
+and the Senior Management, with subsequent measures taken to
+review the implementation of the rectification and improvement plans.
+Corporate Governance Report
+Assisting the Board in performing its duties of risk management
+and internal control systems;
+•
+Audit Committee
+Corporate Governance Report
+BYD Company Limited Annual Report 2016
+In accordance with the Enterprise Income Tax Law of the People's
+Republic of China (中華人民共和國企業所得稅法) and its
+implementation regulations which came into effect on 1 January 2008,
+the Company is required to withhold and pay enterprise income tax at
+the rate of 10% on behalf of the non-resident enterprise shareholders
+whose names appear on the register of members for H shares when
+distributing the cash dividends. Any H shares not registered under the
+name of an individual shareholder, including HKSCC Nominees Limited,
+other nominees, agents or trustees, or other organisations or groups,
+will be deemed as shares held by non-resident enterprise shareholders.
+Therefore, enterprise income tax will be withheld from dividends
+payable to such shareholders. If holders of H shares intend to change its
+shareholder status, please enquire about the relevant procedures with
+your agents or trustees. The Company will strictly comply with the law
+or the requirements of the relevant government authority and withhold
+and pay enterprise income tax on behalf of the relevant shareholders
+based on the register of members for H shares as at the record date of
+the proposed final dividend.
+32
+Supervising the designing, implementation and inspection of the
+risk management and internal control system by the management
+team.
+Ensuring that the Company has established and maintained
+appropriate and effective risk management and internal control
+system;
+Evaluating and determining the nature and magnitude of the
+risks to be assumed by the Company, to achieve its business and
+strategic goals;
+Board of Directors
+Risk Management and Internal Control Framework
+The Company's risk management system is composed of
+well-established organizational structure as well as all-rounded policies
+and procedures. Responsibilities of each business and functional
+department are clearly defined to ensure effective balance. The
+Company's risk management and internal control structure comprises
+of:
+Various measures have been designed for safeguarding assets against
+unauthorized use or disposition; for maintaining proper accounting
+records and for the reliability of financial information used within
+the business or for publication. The Company's systems of risk
+management and internal control are designed to manage rather than
+eliminate the risk of failure to achieve business objectives, and can
+only provide reasonable but not absolute assurance against material
+errors, losses or fraud. The Board considers that the Company is fully
+compliant with the provisions of risk management and internal control
+as set forth in the Corporate Governance Code.
+The Board confirms its responsibility for risk management and
+internal control, and for reviewing their effectiveness through the Audit
+Committee at least annually. The Audit Committee assists the Board in
+performing its responsibilities for supervision and corporate governance,
+covering financial, operational, compliance, risk management and
+internal control functions of the Company.
+Risk Management and Internal Control
+Supervising the Company's risk management and internal control
+system on an ongoing basis, to provide opinions and suggestions
+with regard to the improvement of the risk management and
+internal control systems;
+Reviewing the effectiveness of the Company's risk management
+and internal control systems at least once a year;
+Ensuring that the Company has sufficient resources, staff
+qualifications and experiences in accounting, internal audit and
+financial reporting functions.
+Management Team
+33
+BYD Company Limited Annual Report 2016
+In 2016, the Board reviewed the soundness and effectiveness of
+the Group's risk management and internal control systems, with an
+self-evaluation report issued on the internal control. In addition, the
+Company retained an auditor to audit the effectiveness of the internal
+control related to the Company's financial reports, and to provide
+independent and objective assessment and suggestions in the form
+of auditor's report. The Board considers that the Company's risk
+managements and internal control systems are effective and adequate.
+Number of
+A shares
+Major risks and related control measures are reviewed and upgraded on
+an ongoing basis to ensure proper internal control procedures in place.
+Based on the testing results, persons in charge confirm with the Senior
+Management that internal control measures have played their roles as
+expected, their weakness identified in the control have been corrected,
+and risk management policies and internal control procedures have
+been revised, in the event of any major changes. The Board and the
+Audit Committee supervise the control activities of the management
+team to ensure the effectiveness of the control measures.
+The management team and relevant staff identify risks that may exert
+potential impacts on the Company and its operation, and evaluate risks
+in environment and process of the control. Through comparison of the
+risk appraisal results and risk prioritization, risk management strategies
+and internal control procedures are determined to prevent, avoid or
+reduce risks.
+Identification, Evaluation and Management of
+Major Risks
+Internal Audit
+Reporting the audit results and making suggestions to the Audit
+Committee, to improve major drawbacks of the systems or finding
+the deficiency of the control.
+•
+Internal Audit Department
+Providing opinions to the Board and the Audit Committee on the
+acknowledgment of the effectiveness of the risk management and
+internal control systems.
+Responding to and following up with in a timely manner with
+regard to the investigation results of risk management and
+internal control issues raised by the Internal Audit Department;
+Identifying, evaluating and managing risks that may exert
+potential impacts on major operational procedures;
+Designing, implementing and inspecting the risk management
+and internal control systems;
+.
+Reviewing the due effectiveness of the Company's risk
+management and internal control systems;
+Name
+401,910,480 (L)
+H shares (%)
+Donations
+Details of movements in the reserves of the Group and the Company
+during the Year are set out in the Consolidated Statement of Changes in
+Equity and note 33 to the financial statements, respectively.
+Reserves
+The Group strives to build and maintain long term and strong
+relationships with customers. BYD has established a customer
+satisfaction management system with a view to understand and
+fulfil customers' demands and enhance their satisfaction. In terms
+of suppliers, the Group's objective is to keep mutually beneficial and
+win-win partnerships with all suppliers. At the same time, the Group
+regularly evaluate the performance of our suppliers including suppliers'
+social responsibility.
+Relationship with customers and suppliers
+Since employees are the foundation for development, the Group
+adheres to the "people-oriented” principle in its human resources
+management and practice equal employment opportunities and
+prohibit any career discrimination. The Group reviews its employees
+compensation policies on a regular basis and bonuses and commission
+may be awarded to employees based on their annual performance
+evaluation. Efforts have also been made to help employees in the
+aspects of housing, transportation and children education, etc.
+Relationship with employees
+BYD requires stringent compliance with laws, social norms, professional
+ethics and internal regulations in its worldwide operations. The Group
+has established a Law and Regulation Management Committee which
+monitors, supervises and inspects, regularly and from time to time, the
+management and implementation of laws and regulations in various
+departments, and evaluates their implementation and compliance in
+such areas. During the year of 2016, as far as the Company is aware,
+there was no material breach of or non-compliance with applicable
+laws and regulations by the Group that has a significant impact on the
+business and operations of the Group.
+Regulatory compliance
+The Group has been a positive respondent to environmental protection.
+While helping reduce energy consumption through green products,
+the Group also focuses on reducing the direct impacts of its operation
+on the environment. By introducing an energy management system,
+promoting the replacement of traditional energy with renewable energy
+and saving energy through technical and management means, BYD
+continues to reduce its own energy consumption and carbon dioxide
+emissions.
+Environmental policies
+Please refer to note 42 to the financial statements for details of the
+main financial risks facing the Group and the Group's management
+objectives and policies regarding such risks. In addition to such financial
+risks, the Directors are of the view that any material change in relevant
+government policies (such as the Chinese Government's policies on
+economic development and environmental protection) is also one of the
+principal risks and uncertainties that may affect the Group's business.
+Principal risks and uncertainties facing the Group
+The business review set out on page 11 to 14 of the annual report shall
+form an integral part of this Report of the Directors.
+Business Review
+Charitable and other donations made by the Group during the year
+ended 31 December 2016 amounted to RMB17,626,000 (2015:
+RMB12,440,000).
+Shareholders are recommended to consult their tax advisor regarding
+the ownership and disposal of H shares of the Company in the PRC and
+in Hong Kong and other tax effects.
+Property, Plant and Equipment
+36
+During the reporting period, there was no material acquisition and
+disposal of subsidiaries and associates.
+Material Acquisitions and Disposals of
+Subsidiaries and Associates
+As at 31 December 2016, details of bank loans of the Group are set out
+in note 29 to the financial statements.
+Bank Loans
+Distributable reserves of the Company as at 31 December 2016,
+calculated under the relevant legislation applicable in the PRC,
+the Company's place of incorporation, amounted to approximately
+RMB2,053,252,000 (2015: RMB3,056,839,000).
+Distributable Reserves
+For details, please refer to the announcements of the Company dated
+4 June 2015, 21 July 2015, 17 September 2015, 29 October 2015,
+23 December 2015 and 2 February 2016; and (ii) the circular of the
+Company dated 3 July 2015.
+After deduction of fees of sponsor and underwriters (and the relevant
+tax), approximately RMB6,000,000,000, RMB5,000,000,000 and
+RMB3,369,070,000 of the proceeds raised are intended to be applied
+to the specified uses described in the Company's circular dated 3
+July 2015, namely, (i) the expansion project for production of Li-ion
+ferrous power batteries; (ii) research and development project of new
+energy vehicles; and (iii) additional working capital and repayment
+of bank loans, respectively. As at 31 December 2016, approximately
+RMB2,824,814,900, RMB1,050,515,400 and RMB3,372,141,700
+have been applied to the above specified uses, respectively. The
+Company currently expects to continue to apply the remaining net
+proceeds raised in accordance with the aforesaid specified uses.
+In July 2016, the Company completed a non-public issuance of A
+shares and raised a total proceeds of RMB14,472,999,877.00 (net
+proceeds at RMB14,369,070,026.11 after deduction of relevant
+issue expenses but before deduction of tax) mainly to (i) facilitate the
+Company in expanding its production of Li-ion ferrous power batteries;
+(ii) further meet the needs for the new energy vehicle business; and (ii)
+provide additional working capital with a view to benefit the Company
+in reducing financial risks and optimising its overall financial position.
+A total of 252,142,855 A shares were issued at RMB57.40 each to six
+subscribers.
+Issue of shares
+During the Year, neither the Company nor any of its subsidiaries
+purchased, sold or redeemed any of the listed securities of the
+Company.
+Details of the movements in share capital of the Company are set out in
+note 32 to the financial statements.
+Share Capital
+Report of the Directors
+BYD Company Limited Annual Report 2016
+Details of the movements in property, plant and equipment of the Group
+and the Company are set out in note 14 to the financial statements.
+Report of the Directors
+35
+BYD Company Limited Annual Report 2016
+Committee
+Member of
+Number of
+The Remuneration Committee held one meeting in 2016 to review the
+remuneration of Directors, supervisors and senior management of the
+Group. The individual attendance of its members of the meetings is set
+out as follows:
+The Remuneration Committee has reviewed its terms of reference in
+2016 to comply with the Code.
+The Board of Directors established a Remuneration Committee on
+27 June 2005. The primary role of the Remuneration Committee
+is to regularly review human resource management policies, make
+recommendations on the remuneration packages, compensation and
+benefit plans of Directors and senior management, as well as setting
+performance goals for senior management of the Group. As at 31
+December 2016, the Remuneration Committee comprises Mr. Wang
+Chuan-fu, Mr. Xia Zuo-quan, Mr. Wang Zi-dong, Mr. Zou Fei and Ms.
+Zhang Ran, with Mr. Zou Fei as the chairman.
+Name
+Remuneration Committee
+The Audit Committee held four meetings in 2016 to review the internal
+and external audit findings, the accounting principles and practices
+adopted by the Group, Listing Rules and statutory compliance,
+deliberate its relationship, remuneration and appointment terms
+and independence with the external auditor with reference to its
+work performance and to make recommendations to the Board of
+Directors regarding the reappointment of the external auditor, as
+well as to discuss auditing, internal controls, risk management and
+financial reporting matters including financial statements for the year
+ended 31 December 2015, the three months ended 31 March 2016,
+the six months ended 30 June 2016 and the nine months ended
+30 September 2016, before recommending them to the Board for
+approval, and performed its other duties under the Code. The individual
+attendance of its members of the meetings is set out as follows:
+The terms of reference of the Audit Committee follow the guidelines set
+out by the Hong Kong Institute of Certified Public Accountants and the
+provisions of the Code.
+One of the primary duties of the Audit Committee is to review the
+financial reporting process and the risk management and internal
+control systems of the Group. As at 31 December 2016, Audit
+Committee consists of three independent non-executive Directors,
+namely Mr. Wang Zi-dong, Mr. Zou Fei and Ms. Zhang Ran, and a
+non-executive Director, Mr. Lv Xiang-yang, with Ms. Zhang Ran as the
+chairman. Meetings were convened by the Company's Audit Committee
+and the Company's auditors to review the accounting policies and
+practices adopted by the Group and to discuss auditing, internal control,
+risk management and financial reporting matters before recommending
+them to the Board for approval.
+Audit Committee
+Corporate Governance Report
+29
+BYD Company Limited Annual Report 2016
+Meetings
+Attended
+Attendance Rate
+the Remuneration
+籍個人持有中國境內上市公司股票所取得的股息有關稅
+收問題的函》 (國稅函發[1994]440號)) as promulgated by the
+State Administration of Taxation on 26 July 1994, dividends (capital
+bonuses) received by foreign individuals holding B shares or overseas
+shares (including H shares) from Chinese enterprises issuing such B
+shares or overseas shares are temporarily exempted from individual
+income tax. Accordingly, in the payment of final dividend, the Company
+will not withhold and pay the individual income tax on behalf of
+individual Shareholders when the Company distributes the final dividend
+to individual Shareholders whose names appear on the register of
+members of H shares of the Company.
+Number of
+100%
+1
+ZHANG Ran
+100%
+1
+Pre-Emptive Rights
+WANG Zi-dong
+1
+100%
+1
+100%
+1
+WANG Chuan-fu
+XIA Zuo-quan
+ZOU Fei
+Committee
+100%
+share capital
+There is no provision for pre-emptive rights under the Company's Article
+of Association and there is no similar restriction against such rights
+under the laws of the PRC in respect of joint stock limited company,
+which would oblige the Company to offer new shares on a pro-rata
+basis to existing shareholders.
+A summary of the results and of the assets and liabilities of the Group
+for the last five financial years is set out on page 2 and page 132 of this
+annual report.
+Report of the Directors
+BYD Company Limited Annual Report 2016
+38
+The 512,623,820 A shares did not include the 3,727,700 A shares held
+by Mr. Wang in No.1 Assets Management Plan through E Fund BYD;
+1.
+Notes:
+(L) - Long Position
+4.25%
+6.40%
+(Note 2)
+115,977,060 (L)
+14.73%
+22.17%
+(Note 1)
+18.79%
+28.27%
+2.
+512,623,820 (L)
+Of the 401,910,480 A shares, 239,228,620 A shares were held by Mr.
+Lv in his personal capacity and 162,681,860 A shares were held by
+Youngy Investment Holding Group Co., Ltd. (K¶¶Ð
+H shares of RMB1.00 each
+H shares
+Name
+total issued
+total issued
+Number of
+shareholding in
+shareholding in
+percentage of
+percentage of
+1.
+Approximate
+Approximate
+A shares of RMB1.00 each
+As at 31 December 2016, to the best knowledge of the Directors of the
+Company, the following persons (other than the Directors, supervisors
+and chief executives of the Company) had interests or short positions in
+the shares and underlying shares of the Company which were required
+to be disclosed to the Company and the Hong Kong Stock Exchange
+under the provisions of Divisions 2 and 3 of Part XV of the SFO, or were
+required to be entered in the register kept by the Company pursuant to
+Section 336 of the SFO:
+Shareholders with Notifiable Interests
+A) ("Youngy Investment", formerly known as Guangzhou Youngy
+Management & Investment Group Company Limited). Youngy Investment
+was in turn held by Mr. Lv and his spouse as to 89.5% and 10.5%
+of equity interests, respectively. Mr. Lv was therefore deemed to be
+interested in the 162,681,860 A shares under the SFO.
+Mr. Wang Chuan-fu
+(Director)
+Mr.Lv Xiang-yang
+(Director)
+Mr. Xia Zuo-quan
+(Director)
+share capital (%)
+total issued
+None of the above mentioned contracts and letters of appointment are
+not determinable within one year without payment of compensation
+(other than statutory compensation).
+All existing supervisors had signed or renewed their service or
+employment contracts with the Company for a term of three years
+commencing on 10 September 2014.
+All existing Directors had signed or renewed their service contracts
+or letters of appointment with the Company for a term of three years
+commencing on 10 September 2014.
+Directors' and Supervisors' Service Contracts
+Report of the Directors
+37
+BYD Company Limited Annual Report 2016
+Ms. Zhang Ran
+Mr. Zou Fei
+Independent non-executive directors:
+Mr. Wang Zi-dong
+Non-executive directors:
+Mr. Lv Xiang-yang
+Mr. Xia Zuo-quan
+Mr. Wang Chuan-fu
+Executive director:
+The Directors who held office during the year ended 31 December
+2016 and up to the date of this report are:
+Directors
+Directors' Interests in Contracts
+No transactions, arrangement or contracts of significance in relation to
+the Group's business to which the Group was a party and in which a
+Director or supervisor and an entity related to a Director or supervisor
+of the Company had a material interest, whether directly or indirectly,
+subsisted at the end of the Year or at any time during the Year.
+Directors Remuneration
+The emolument payable to each Executive Director is based on (i) his
+duties and responsibilities; (ii) prevailing market conditions; and (iii)
+performance and profitability of the Company.
+total issued
+A shares (%)
+Number of
+A shares
+shareholding in
+shareholding in
+percentage of
+percentage of
+Approximate
+Five-Year Financial Summary
+Approximate
+A shares of RMB1.00 each
+As at 31 December 2016, the interests and short positions of each
+of the directors, supervisors and chief executives of the Company in
+the shares, underlying shares and debentures of the Company or any
+associated corporation (within the meaning of Part XV of the Securities
+and Futures Ordinance (Cap 571) ("SFO")) which were required to be
+notified to the Company and The Stock Exchange of Hong Kong Limited
+(the "Hong Kong Stock Exchange") pursuant to Divisions 7 and 8 of
+Part XV of the SFO (including interests which he is taken or deemed
+to have under such provisions of the SFO) or were required, pursuant
+to section 352 of the SFO, to be entered into the register referred
+to therein, or which were required, pursuant to the Model Code for
+Securities Transactions by Directors of Listed Issuers under the Rules
+Governing the Listing of Securities on the Hong Kong Stock Exchange to
+be notified to the Company and the Hong Kong Stock Exchange (for this
+purpose, the relevant provisions of the SFO will be interpreted as if they
+applied to the supervisors) were as follows:
+Directors', Supervisors' and Chief Executives'
+Interests
+Brief biographical details of Directors, supervisors and senior
+management of the Company are set out on pages 20 to 26 of this
+annual report.
+Biographical Details of Directors, Supervisors
+and Senior Management
+Details of the remuneration of the Directors are set out in note 9 to the
+financial statements.
+The emolument payable to each Non-Executive Director (including
+Independent Non-Executive Director) is based on the responsibilities
+and undertaking to the Board taking into account his experience and
+market practice for such post.
+Name
+Youngy Investment is owned by Mr. Lv Xiang-yang, a non-executive
+director of the Company, as to 89.5%. Mr. Lv is therefore deemed to be
+interested in the 162,681,860 A shares held by Youngy Investment under
+the SFO.
+Review of interim results
+Other non-audit services
+Number of
+H shares
+Berkshire Hathaway
+225,000,000 (L)
+24.59%
+8.25%
+Energy (note 1)
+Li Lu (note 2)
+75,387,200 (L)
+8.24%
+3.04%
+LL Group, LLC (note 2)
+75,387,200 (L)
+8.24%
+3.04%
+Morgan Stanley (note 3)
+51,286,006 (L)
+5.60%
+1.88%
+46,600,197 (S)
+5.09%
+1.71%
+H shares of RMB1.00 each
+8.25%
+24.59%
+In accordance with the "Circular on Certain Issues Concerning the
+Policies of Individual Income Tax” (Cai Shui Zi [1994] No.020) (
+於個人所得稅若干政策問題的通知》(財稅字[1994]020號))
+promulgated by the Ministry of Finance and the State Administration
+of Taxation on 13 May 1994, overseas individuals are, temporarily,
+exempted from the PRC individual income tax for dividend or bonuses
+received from foreign invested enterprises. In accordance with the
+"Letter of the State Administration of Taxation concerning Taxation
+Issues of Dividends Received by Foreign Individuals Holding Shares of
+Companies Listed in China" (Guo Shui Han Fa [1994] No. 440) (<
+total issued
+share capital (%)
+Approximate
+total issued
+H shares (%)
+shareholding in
+shareholding in
+percentage of
+percentage of
+Approximate
+Berkshire Hathaway Inc
+(note 1)
+225,000,000 (L)
+(3,428,963)
+(619,528)
+Joint ventures
+(81,189,440)
+Share of profits and losses of:
+(1,517,003)
+(1,799,609)
+8
+Finance costs
+(581,505)
+(65,752,741)
+19,018,263
+11,859,244
+Other expenses
+Research and development costs
+CO
+926,216
+1,991,326
+710,939
+(629,203)
+(4,196,339)
+(2,867,992)
+6
+(3,171,694)
+(1,998,499)
+Administrative expenses
+(3,690,339)
+57
+581,177
+EQUITY HOLDERS OF THE PARENT
+Selling and distribution expenses
+Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the
+consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
+Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express
+an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We
+remain solely responsible for our audit opinion.
+46
+BYD Company Limited Annual Report 2016
+Independent Auditor's Report
+We communicate with the Audit Committee regarding, among other matters, the planned scope and timing of the audit and significant audit findings,
+including any significant deficiencies in internal control that we identify during our audit.
+We also provide the Audit Committee with a statement that we have complied with relevant ethical requirements regarding independence and to
+communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related
+safeguards.
+From the matters communicated with the Audit Committee, we determine those matters that were of most significance in the audit of the consolidated
+financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law
+or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be
+communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of
+such communication.
+The engagement partner on the audit resulting in this independent auditor's report is Chan Yuen Tao.
+Ernst & Young
+Certified Public Accountants
+Hong Kong
+28 March 2017
+BYD Company Limited Annual Report 2016
+Consolidated Statement of Profit or Loss
+Year ended 31 December 2016
+Notes
+2016
+RMB'000
+2015
+RMB'000
+REVENUE
+5
+100,207,703
+77,611,985
+Cost of sales
+Gross profit
+Other income and gains
+Government grants and subsidies
+(245,802)
+Associates
+19,704
+3,003
+983,411
+127,629
+(327,804)
+(42,542)
+31
+1,311,215
+45,684
+170,171
+5,480,012
+2015
+RMB'000
+2016
+RMB'000
+Note
+Exchange differences on translation of foreign operations
+Income tax effect
+3,138,196
+Available-for-sale investments:
+Changes in fair value
+(19,589)
+963,822
+305,997
+470,287
+3,796,021
+5,183,038
+Non-controlling interests
+Owners of the parent
+173,313
+Attributable to:
+5,653,325
+TOTAL COMPREHENSIVE INCOME FOR THE YEAR
+963,822
+173,313
+OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF TAX
+Net other comprehensive income to be reclassified to
+profit or loss in subsequent periods
+4,102,018
+Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained,
+whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going
+concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures
+in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit
+evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a
+going concern.
+in subsequent periods:
+PROFIT FOR THE YEAR
+3,138,196
+5,480,012
+(656,790)
+(1,088,398)
+11
+3,794,986
+13
+6,568,410
+Non-controlling interests
+Owners of the parent
+Attributable to:
+PROFIT FOR THE YEAR
+Income tax expense
+PROFIT BEFORE TAX
+6
+Other comprehensive income to be reclassified to profit or loss
+5,052,154
+427,858
+Year ended 31 December 2016
+Consolidated Statement of Comprehensive Income
+BYD Company Limited Annual Report 2016
+48
+47
+RMB1.12
+2,823,441
+RMB1.88
+Basic and diluted
+13
+EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY
+3,138,196
+5,480,012
+314,755
+- For profit for the year
+Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the
+directors.
+Auditor's responsibilities for the audit of the consolidated financial statements
+Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and
+perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.
+The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion,
+forgery, intentional omissions, misrepresentations, or the override of internal control.
+BYD Company Limited Annual Report 2016
+Report of the Directors
+Related Party Transactions and Connected
+Transactions
+A summary of the related party transactions undertaken by the Group
+during the year are set out in note 39 to the financial statements. Such
+related party transactions did not constitute connected transactions of
+the Group under Chapter 14 A of the Listing Rules.
+There was no connected transaction entered into by the Group during
+the year ended 31 December 2016 which is required to be disclosed
+under the Listing Rules.
+Sufficiency of Public Float
+Based on information which is publicly available to the Company and
+within the knowledge of its directors as at the date of this report,
+the directors confirm that the Company had sufficient public float as
+required by the Listing Rules.
+Confirmation of Independence
+Each Independent Non-Executive Director has provided a written
+statement confirming his independence to the Company pursuant
+to Rule 3.13 of the Listing Rules. The Company assessed that each
+Independent Non-Executive Director continues to be independent.
+Auditors
+Ernst & Young, the Company's international auditor, and Ernst & Young
+Hua Ming (LLP), the Company's domestic accountant, will retire. A
+resolution will be proposed at the forthcoming AGM to appoint Ernst &
+Young as the international auditor of the Company for 2017 and Ernst &
+Young Hua Ming (LLP) as the domestic accountant for 2017.
+On behalf of the Board
+Wang Chuan-fu
+Chairman
+Shenzhen, the PRC, 28 March 2017
+BYD Company Limited Annual Report 2016 41
+Report of the Supervisory Committee
+In 2016, in accordance with the principle of being accountable to all
+shareholders, the Supervisory Committee of the Company fully complied
+with the duties to supervise and ensure that the resolutions as passed
+in the Shareholders' General Meetings were consistently implemented,
+the legal interest of shareholders was protected and the duties
+conferred under the Articles of Association and in the Shareholders'
+General Meetings were completed in accordance with the Company
+Law, the Articles of Association and the relevant provisions, in order to
+facilitate a disciplined operation and sustainable development of the
+Company.
+1. Meetings of the Supervisory Committee
+during the Reporting Period and
+Resolutions Passed in Such Meetings
+On 28 March 2016, the Supervisory Committee convened its
+meeting at the office of the Company, where the annual report of
+the Company for 2015 was considered and approved accordingly.
+On 28 April 2016, the Supervisory Committee convened its
+meeting at the office of the Company, where the first quarterly
+report of the Company for 2016 was considered and approved
+accordingly.
+On 15 August 2016, the Supervisory Committee convened its
+meeting at the office of the Company, where the resolution on
+replacement of self-raised funds invested in advance in proceeds
+investment projects with raised proceeds and the resolution on
+utilisation of idle proceeds to temporarily supplement working
+capital by two wholly-owned subsidiaries were considered and
+approved accordingly.
+On 26 August 2016, the Supervisory Committee convened its
+meeting at the office of the Company, where the interim report of
+the Company for 2016 was considered and approved accordingly.
+On 28 October 2016, the Supervisory Committee convened its
+meeting at the office of the Company, where the third quarterly
+report of the Company for 2016 was considered and approved
+accordingly.
+2. Progress of the Work of the Supervisory
+Committee during the Reporting Period
+During the reporting period, the Supervisory Committee
+of the Company performed its supervisory functions in a
+fiduciary manner. The Supervisory Committee duly supervised
+and examined the Company's financial situation, the Board
+of Directors' execution of the resolutions passed in the
+Shareholders' General Meeting, operational decisions of the
+management, the operations of the Company in compliance
+with the laws, the acts of the Directors, supervisors and senior
+management, and the connected transactions entered into
+with its controlling shareholder. The Supervisory Committee
+considered that:
+(1)
+The operating activities of the Company and its subsidiaries
+in 2016 did not violate the Company Law, the Articles of
+Association, financial accounting procedures and the laws
+and regulations of the PRC.
+(2) During the discharge of their duties in 2016, the directors,
+supervisors and senior management of the Company
+fulfilled their fiduciary duties by acting lawfully, regularized
+management, explored for innovation, with discipline
+to protect the interests of all the shareholders of the
+Company. None of the parties named above was found in
+breach of the Company Law, the Articles of Association or
+the laws and regulations of the PRC.
+(3) The auditors presented an unqualified auditors' report. The
+report indicates the financial statements give a true and fair
+view of the financial results and operations of the Company.
+40
+None of the directors, their close associates or any shareholder (which
+to the knowledge of the Directors owns more than 5% of the Company's
+issued share capital) had an interest in any of the major suppliers or
+customers noted above.
+15.30%
+35.65%
+― the five largest customers combined
+BYD Company Limited Annual Report 2016
+39
+Report of the Directors
+(L)-Long Position, (S)- Short Position
+Notes:
+1.
+2.
+3.
+Berkshire Hathaway Inc. was deemed to be interested in 225,000,000 H
+shares (L) through its controlled corporation, Berkshire Hathaway Energy
+(formerly known as MidAmerican Energy Holdings Company) for the
+225,000,000 H shares directly held by it.
+LL Group, LLC was deemed to be interested in 75,387,200 H shares
+(L) through its controlled corporation, Himalaya Capital Investors, L.P.
+(formerly known as LL Investment Partners, L.P.). Li Lu, being the
+controlling shareholder of Capital Investors, L.P. (formerly known as LL
+Group, LLC), was also deemed to be interested in 75,387,200 H shares.
+Morgan Stanley was deemed to be interested in a total of 51,286,006
+H shares (L) and had a short position in 46,600,197 H shares through
+its controlled corporations. Of these shares, 34,542,844 H shares
+(L) and 25,211,246 H shares (S) were held by Morgan Stanley & Co.
+International plc; 9,821,663 H shares (L) and 570,945 H shares (S) were
+held by Morgan Stanley Capital Services LLC; 5,174,447 H shares (L)
+and 20,818,006 H shares (S) were held by Morgan Stanley & Co. LLC;
+1,580,552 H shares (L) were held by Morgan Stanley Smith Barney LLC;
+and 166,500 H shares (L) were held by FUNDLOGIC SAS. All of these
+entities are indirectly controlled by Morgan Stanley.
+Among the 51,286,006 H shares (L) held by Morgan Stanley, 21,832,892
+H shares (L) were held through derivatives. Among the 46,600,197 H
+shares(S) held by Morgan Stanley, 4,219,571 H shares (S) were held
+through derivatives.
+The total issued share capital of the Company as at 31 December 2016
+was RMB2,728,142,855, divided into 1,813,142,855 A shares of
+RMB1.00 each and 915,000,000 H shares of RMB1.00 each, all fully
+paid up.
+Management Contracts
+The Supervisory Committee is confident in the prospects of the
+Company and will proceed to carry out effective supervision on
+the operation of the Company to safeguard the interests of the
+Shareholders and the Company as a whole.
+No contract concerning the management and administration of the
+whole or any substantial part of the business of the Company were
+entered into or existed during the year ended 31 December 2016.
+During the financial year, no director acquired benefits by engaging in
+business that competes with that of the Company or its subsidiaries.
+In September 2009, Mr. Wang Chuan-fu, controlling shareholder of the
+Group, signed the Non-competition Undertakings to confirm with the
+Company that he would abide by the undertaking of not engaging in
+business that competes with that of the Company. Directors, including
+independent non-executive directors, have examined its compliance
+and confirmed that the controlling shareholder has abided by all the
+undertakings.
+Retirement Scheme
+Currently, all PRC subsidiaries of the Group participate in defined
+contribution retirement schemes (the “Schemes") launched by local
+provincial and municipal governments in China, pursuant to which the
+Group makes contributions to the Schemes in accordance with the
+applicable percentage of the salary of eligible staff. Local government
+authorities assume the obligation in respect of all the pensions payable
+to retired staff.
+Save for the above contributions, the Group does not have any other
+major payment obligation in respect of pension benefits.
+Major Customers and Suppliers
+The percentage of purchases and sales for the year ended 31
+December 2016 attributable to the Group's major suppliers and
+customers are as follows:
+Purchases
+-the largest supplier
+8.01%
+- the five largest suppliers combined
+16.70%
+Sales
+- the largest customer
+Competing Business
+Dong Jun-qing
+Chairman of the Supervisory Committee
+28 March 2017
+Reviewed the sufficiency and completeness of disclosure included in
+the footnotes to the financial statements.
+44
+BYD Company Limited Annual Report 2016
+Independent Auditor's Report
+Key audit matter
+How our audit addressed the key audit matter
+Recoverability of trade receivables
+The balance of trade receivables are significant to the total assets of the We performed the following procedures in related to trade receivables:
+Group. Trade receivables relating to sales of new energy automobiles are
+long aged or under long credit period.
+The determination of the recoverability of trade receivables involves
+management judgement including the aging, existence of disputes,
+historical payment record and any other available information that may ⚫
+impact the creditworthiness of the debtors.
+Details of trade receivables are disclosed in note 2.4, 3 and 23 to the
+financial statements.
+Obtained an understanding of the management's process of
+recoverability assessment in respect of trade receivables and its
+design and operating effectiveness;
+Obtained confirmations and reviewed whether the balances were
+agreed by both parties;
+Tested the information used to determine the impairment of trade
+receivables by reviewing the calculation of aging, industry index,
+customers' financial condition, historic payment pattern, subsequent
+settlement and retrospectively review of historical bad debts
+provision;
+For the trade receivables due from government arising from
+subsidies on sales of new energy automobiles, we have re-
+performed the computation of trade receivables arising from
+subsidies in accordance with government policies, obtained the list
+of long aged trade receivables arising from subsidies and evaluated
+the recoverability and obtained the management's estimation over
+government's settlement schedule of such subsidy.
+Evaluated the assumptions and parameters used by retrospectively
+reviewing the accuracy of management's forecasts made
+historically, reviewing the forecasted future economic trend and
+corroborating the assumptions with current market trend;
+Other information included in the Annual Report
+Our opinion on the consolidated financial statements does not cover the other information and we do not express any form of assurance conclusion
+thereon.
+In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in doing so, consider
+whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit or otherwise
+appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other
+information, we are required to report that fact. We have nothing to report in this regard.
+Responsibilities of the directors for the consolidated financial statements
+The directors of the Company are responsible for the preparation of the consolidated financial statements that give a true and fair view in accordance
+with HKFRSS issued by the HKICPA and the disclosure requirements of Hong Kong Companies Ordinance, and for such internal control as the directors
+determine is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or
+error.
+BYD Company Limited Annual Report 2016
+45
+Independent Auditor's Report
+In preparing the consolidated financial statements, the directors of the Company are responsible for assessing the Group's ability to continue as a
+going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors of the
+Company either intend to liquidate the Company or to cease operations or have no realistic alternative but to do so.
+The directors of the Company are assisted by the Audit Committee in discharging their responsibilities for overseeing the Group's financial reporting
+process.
+5,653,325
+Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material
+misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Our report is made solely to you, as a body, and
+for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report.
+Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with HKSAS will always detect a
+material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they
+could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.
+As part of an audit in accordance with HKSAs, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
+The directors of the Company are responsible for the other information. The other information comprises the information included in the Annual Report,
+other than the consolidated financial statements and our auditor's report thereon.
+Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances,
+but not for the purpose of expressing an opinion on the effectiveness of the Group's internal control.
+Involved internal valuation experts to evaluate the reasonableness
+of assumptions and parameters, including discount rates, terminal
+growth rates and etc., used in the valuation model;
+Obtained an understanding of the management's process of
+impairment assessment in respect of other intangible assets and its
+design and operating effectiveness;
+42
+BYD Company Limited Annual Report 2016
+Independent Auditor's Report
+EY安永
+Ernst & Young
+22/F, CITIC Tower
+1 Tim Mei Avenue
+Central, Hong Kong
+安永會計師事務所
+香港中環添美道1號
+中信大廈22樓
+Tel 電話: +852 2846 9888
+Fax: +852 2868 4432
+www.ey.com
+To the shareholders of BYD Company Limited
+(Registered in the People's Republic of China with limited liability)
+Opinion
+We have audited the consolidated financial statements of BYD Company Limited (the "Company") and its subsidiaries (the "Group") set out on pages
+47 to 131 which comprise the consolidated statement of financial position as at 31 December 2016, and the consolidated statement of profit or loss,
+the consolidated statement of comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows
+for the year then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies.
+In our opinion, the consolidated financial statements give a true and fair view of the consolidated financial position of the Group as at 31 December
+2016, and of its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with Hong Kong Financial
+Reporting Standards ("HKFRSS”) issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA") and have been properly prepared in
+compliance with the disclosure requirements of Hong Kong Companies Ordinance.
+Basis for opinion
+We conducted our audit in accordance with Hong Kong Standards on Auditing ("HKSAS") issued by the HKICPA. Our responsibilities under those
+standards are further described in the Auditor's responsibilities for the audit of the consolidated financial statements section of our report. We are
+independent of the Group in accordance with the HKICPA's Code of Ethics for Professional Accountants (the "Code"), and we have fulfilled our other
+ethical responsibilities in accordance with the Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
+basis for our opinion.
+Assessed the appropriateness of the management's assumptions
+used in the valuation model;
+Key audit matters
+We have fulfilled the responsibilities described in the Auditor's responsibilities for the audit of the consolidated financial statements section of our
+report, including in relation to these matters. Accordingly, our audit included the performance of procedures designed to respond to our assessment of
+the risks of material misstatement of the consolidated financial statements. The results of our audit procedures, including the procedures performed to
+address the matters below, provide the basis for our audit opinion on the accompanying consolidated financial statements.
+BYD Company Limited Annual Report 2016
+43
+Independent Auditor's Report
+Key audit matter
+Amortisation and impairment assessment of other intangible assets
+How our audit addressed the key audit matter
+Obtained an understanding of the amortisation model and
+assumptions used by the Group;
+Industrial property, proprietary technology and capitalised development We performed the following audit procedures in related to other intangible
+cost are significant to the total assets of the Company and the Group. assets:
+The capitalised development cost for new energy vehicles is amortized
+using the unit of production method of which the estimated total units
+of production are relevant and important input. Due to the uncertainty
+of estimation, adjustment is necessarily to be made to the amount of
+amortization if there is significant difference between estimated and •
+actual units of production.
+The Group also need to perform annual impairment test on capitalised
+development cost that is not yet available for use. For the rest of other
+intangible assets, impairment test is only performed when impairment
+indicator exists. Estimation of recoverable amount of other intangible
+assets is based on management's judgements and assumptions including
+projected sales volume, gross margin, working capital, terminal growth
+rates, discount rate and etc.
+The assessment process is complex and requires significant estimation,
+including the prediction for future market trend and macro-economy •
+situation. Therefore we identify it as a key audit matter.
+Details of the Group's other intangible assets are disclosed in note 2.4, 3
+and 17 to the financial statements.
+Tested the reasonableness of estimated useful life and annual units
+of production applied in calculating the amortization method and
+performed sensitivity analysis;
+Compared the differences between the estimated and actual
+amount of units of production and inquired with management the
+reason of variance;
+Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the consolidated financial statements
+of the current period. These matters were addressed in the context of our audit of the consolidated financial statements as a whole and in forming our
+opinion thereon, and we do not provide a separate opinion on these matters. For each matter below, our description of how our audit addressed the
+matter is provided in that context.
+4,102,018
+OTHER COMPREHENSIVE INCOME
+(200,000)
+Total comprehensive income for the year
+(10,831)
+of foreign operations
+Exchange differences on translation
+983,411
+for-sale investments, net of tax
+Change in fair value of available-
+for the year:
+Other comprehensive income
+314,755 3,138,196
+2,823,441
+2,823,441
+Profit for the year
+3,528,840 28,894,437
+25,365,597
+983,411
+(10,831) 2,823,441
+Disposal of a subsidiary
+(30,543)
+3,200,000
+(30,543) (100,000) (130,543)
+305,997 4,102,018
+3,796,021
+(8,758) (19,589)
+(10,831)
+983,411
+(153,624)* 10,637,614*
+983,411
+reserve fund
+Appropriation to statutory surplus
+15,652
+increase the capital reserve
+Government subsidies designated to
+Perpetual loan interest paid
+Issue of a perpetual loan (note 34)
+305,888
+2,109,406*
+5,863,563* 4,432,638*
+2,476,000
+controlling
+Perpetual
+Retained
+fluctuation
+surplus
+Capital
+premium
+capital account
+Share
+Exchange
+Statutory
+Share
+Attributable to owners of the parent
+Year ended 31 December 2016
+Consolidated Statement of Changes in Equity
+BYD Company Limited Annual Report 2016
+Non-
+(36,671)
+reserve
+reserve
+At 1 January 2015
+RMB'000
+RMB'000
+RMB'000
+RMB'000
+RMB'000
+RMB'000
+reserve fund
+RMB'000
+(note 33)
+RMB'000 RMB'000
+RMB'000
+Total equity
+interests
+Total
+loans
+profits
+(note 32)
+36,029,241
+3,200,000
+(36,671)
+(15,652)
+470,287
+5,183,038
+5,052,154
+3,255
+127,629
+Total comprehensive income for the year
+45,684
+3,255 42,429
+3,255
+of foreign operations
+127,629
+127,629
+- - 127,629 - - -
+Exchange differences on translation
+for-sale investments, net of tax
+5,653,325
+Issue of shares (note 32)
+252,143
+Share issue expenses
+At 31 December 2016
+reserve fund
+Appropriation to statutory surplus
+increase the capital reserve
+Government subsidies designated to
+Interim 2016 dividend
+(185,155)
+Change in fair value of available-
+Perpetual loan interest paid (note 12)
+595,800 595,800
+Issue of a perpetual loan (note 34)
+(103,930)
+(103,930)
+14,473,000
+14,473,000
+14,220,857
+(103,930)
+595,800
+for the year:
+3,200,000 32,294,404 3,734,837 36,029,241
+5,052,154 427,858 5,480,012
+(164,455)* 13,102,844*
+5,052,154
+premium
+Share
+Share
+Attributable to owners of the parent
+Other comprehensive income
+Profit for the year
+At 1 January 2016
+Capital
+Year ended 31 December 2016
+BYD Company Limited Annual Report 2016
+52
+51
+(164,455)* 13,102,844* 3,200,000 32,294,404 3,734,837 36,029,241
+2,476,000 5,863,563* 5,431,701* 2,384,751*
+At 31 December 2015
+(305,888)
+Consolidated Statement of Changes in Equity
+3,200,000
+(36,671)
+capital account
+Statutory
+surplus
+reserve fund
+2,476,000 5,863,563* 5,431,701* 2,384,751*
+RMB'000 RMB'000
+RMB'000
+equity
+interests
+Total
+loans
+RMB'000
+reserve
+Total
+Retained Perpetual
+Non-
+Exchange
+fluctuation
+reserve profits
+RMB'000 RMB'000
+RMB'000
+(note 33)
+(note 32)
+RMB'000 RMB'000
+RMB'000
+controlling
+55,409,363
+Lv Xiang-yang
+Director
+58
+410
+57
+(iv) that the share of other comprehensive income of associates and joint ventures accounted for using the equity method must be
+presented in aggregate as a single line item, and classified between those items that will or will not be subsequently reclassified to
+profit or loss.
+that entities have flexibility as to the order in which they present the notes to financial statements; and
+that specific line items in the statement of profit or loss and the statement of financial position may be disaggregated;
+(ii)
+the materiality requirements in HKAS 1;
+(i)
+Amendments to HKAS 1 include narrow-focus improvements in respect of the presentation and disclosure in financial statements. The
+amendments clarify:
+Except for the amendments to HKFRS 10, HKFRS 12 and HKAS 28 (2011), and certain amendments included in the Annual Improvements
+2012-2014 Cycle, which are not relevant to the preparation of the Group's financial statements, the nature and the impact of the amendments
+are described below:
+Amendments to a number of HKFRSS
+Equity Method in Separate Financial Statements
+Clarification of Acceptable Methods of Depreciation and Amortisation
+Disclosure Initiative
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+2.2 Changes in accounting policies and disclosures (continued)
+Sale or Contribution of Assets between an Investor and its Associate or Joint Venture
+Revenue from Contracts with Customers²
+Classification and Measurement of Share-based Payment Transactions²
+Applying HKFRS 9 Financial Instruments with HKFRS 4 Insurance Contracts²
+Financial Instruments²
+Amendments to HKAS 12
+Amendments to HKAS 7
+HKFRS 16
+Amendments to HKFRS 15
+HKFRS 15
+Investment Entities: Applying the Consolidation Exception
+Amendments to HKFRS 10 and HKAS 28 (2011)
+Amendments to HKFRS 4
+Amendments to HKFRS 2
+The Group has not applied the following revised HKFRSS, that have been issued but are not yet effective, in these financial statements.
+2.3 Issued but not yet effective Hong Kong financial reporting standards
+Amendments to HKAS 16 and HKAS 38 clarify the principle in HKAS 16 and HKAS 38 that revenue reflects a pattern of economic benefits
+that are generated from operating a business (of which the asset is part) rather than the economic benefits that are consumed through
+the use of the asset. As a result, a revenue-based method cannot be used to depreciate property, plant and equipment and may only be
+used in very limited circumstances to amortise intangible assets. The amendments are applied prospectively. The amendments have had
+no impact on the financial position or performance of the Group as the Group has not used a revenue-based method for the calculation of
+depreciation of its non-current assets.
+(b)
+Furthermore, the amendments clarify the requirements that apply when additional subtotals are presented in the statement of financial position
+and the statement of profit or loss. The amendments have had no significant impact on the Group's financial statements.
+HKFRS 9
+Annual Improvements 2012-2014 Cycle
+Amendments to HKAS 27 (2011)
+Amendments to HKAS 16 and HKAS 38
+The consolidated financial statements include the financial statements of the Group for the year ended 31 December 2016. A subsidiary is an
+entity (including a structured entity), directly or indirectly, controlled by the Company. Control is achieved when the Group is exposed, or has
+rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee
+(i.e., existing rights that give the Group the current ability to direct the relevant activities of the investee).
+Basis of consolidation
+These financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards ("HKFRSS") (which include all
+Hong Kong Financial Reporting Standards, Hong Kong Accounting Standards ("HKASS") and Interpretations) issued by the Hong Kong Institute
+of Certified Public Accountants ("HKICPA"), accounting principles generally accepted in Hong Kong and the disclosure requirements of the Hong
+Kong Companies Ordinance. They have been prepared under the historical cost convention, except for certain available-for-sale investment and
+derivative financial instruments, which has been measured at fair value. These financial statements are presented in Renminbi ("RMB") and all
+values are rounded to the nearest thousand except when otherwise indicated.
+2.1 Basis of preparation
+Λ These subsidiaries were wholly owned by BYD Int'l, one of the Company's subsidiaries.
+These subsidiaries are registered as wholly-foreign-owned enterprises under PRC law.
+****
+2.1 Basis of preparation (continued)
+These subsidiaries are registered as Sino-foreign joint ventures under PRC law.
+Research and development of
+auto mobiles and components
+Sale and distribution of
+automobiles; provision of
+related after-sales services
+These subsidiaries are registered as limited liability companies under PRC law.
+BYD Int'l is a subsidiary incorporated in Hong Kong and with its shares listed on the Stock Exchange of Hong Kong limited.
+2,600,000,000
+("Shangluo BYD")***
+60.92%
+Research, development,
+manufacture and sale of solar
+batteries and solar arrays
+Clarifications to HKFRS 15 Revenue from Contracts with Customers²
+BYD Company Limited Annual Report 2016
+31 December 2016
+Amendments to HKAS 1
+HKFRS 12 and HKAS 28 (2011)
+Amendments to HKFRS 10,
+The Group has adopted the following new and revised HKFRSS for the first time for the current year's financial statements.
+2.2 Changes in accounting policies and disclosures
+If the Group loses control over a subsidiary, it derecognises (i) the assets (including goodwill) and liabilities of the subsidiary, (ii) the carrying
+amount of any non-controlling interest and (iii) the cumulative translation differences recorded in equity; and recognises (i) the fair value of the
+consideration received, (ii) the fair value of any investment retained and (iii) any resulting surplus or deficit in profit or loss. The Group's share of
+components previously recognised in other comprehensive income is reclassified to profit or loss or retained profits, as appropriate, on the same
+basis as would be required if the Group had directly disposed of the related assets or liabilities.
+The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the
+three elements of control described above. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an
+equity transaction.
+Notes to Financial Statements
+Profit or loss and each component of other comprehensive income are attributed to the owners of the parent of the Group and to the
+non-controlling interests, even if this results in the non-controlling interests having a deficit balance. All intra-group assets and liabilities, equity,
+income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation.
+the Group's voting rights and potential voting rights.
+(c)
+(b) rights arising from other contractual arrangements; and
+the contractual arrangement with the other vote holders of the investee;
+(a)
+When the Company has, directly or indirectly, less than a majority of the voting or similar rights of an investee, the Group considers all relevant
+facts and circumstances in assessing whether it has power over an investee, including:
+Basis of consolidation (continued)
+The financial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies.
+The results of subsidiaries are consolidated from the date on which the Group obtains control, and continue to be consolidated until the date that
+such control ceases.
+Leases³
+Disclosure Initiative¹
+Recognition of Deferred Tax Assets for Unrealised Losses¹
+Issued ordinary/
+Name
+business
+registered
+share capital
+Percentage of
+equity attributable
+to the Company
+Direct
+Indirect
+Place of
+incorporation/
+registration and
+Principal activities
+Hong Kong
+HK$440,000,000
+65.76%
+Investment holding
+Huizhou BYD Electronic Co., Ltd
+("Huizhou Electronic”)***^
+PRC/
+US$110,000,000
+BYD Electronic (International) Co., Ltd
+("BYD Int'l")*
+65.76%
+Information about subsidiaries (continued)
+31 December 2016
+Director
+Wang Chuan-fu
+3,734,837
+4,153,434
+Research, development, sale and
+manufacture of Li-ion batteries
+and accessories
+BYD Auto Industry Co., Ltd
+("BYD Auto Industry")***
+PRC/ US$1,207,654,387
+1. Corporate and Group information (continued)
+89.57%
+Mainland China
+Research, development, sale and
+manufacture of automobiles
+continued/...
+55
+56
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+10.00%
+(1,001,228)
+High-level assembly
+Xi'an BYD Electronic Co., Ltd
+("Xi'an Electronic")****^
+BYD (Wuhan) Electronic Co., Ltd
+("Wuhan Electronic”)****^
+PRC/Mainland China
+RMB
+("Changsha Auto")**
+1,000,000,000
+BYD (Shangluo) Industrial Company Limited PRC/Mainland China
+The Group does not expect that the adoption of HKFRS 9 will have a significant impact on the classification and measurement of its
+financial assets. It expects to continue measuring at fair value all financial assets currently held at fair value. Equity investments currently
+held as available for sale will be measured at fair value through other comprehensive income as the investments are intended to be held
+for the foreseeable future and the Group expects to apply the option to present fair value changes in other comprehensive income. Gains
+and losses recorded in other comprehensive income for the equity investments cannot be recycled to profit or loss when the investments
+are derecognised.
+(a) Classification and measurement
+Changsha BYD Auto Co., Ltd
+In September 2014, the HKICPA issued the final version of HKFRS 9, bringing together all phases of the financial instruments project to replace
+HKAS 39 and all previous versions of HKFRS 9. The standard introduces new requirements for classification and measurement, impairment and
+hedge accounting. The Group expects to adopt HKFRS 9 from 1 January 2018. During 2016, the Group performed a high-level assessment of
+the impact of the adoption of HKFRS 9. This preliminary assessment is based on currently available information and may be subject to changes
+arising from further detailed analyses or additional reasonable and supportable information being made available to the Group in the future. The
+expected impacts arising from the adoption of HKFRS 9 are summarised as follows:
+No mandatory effective date yet determined but available for adoption.
+4
+Effective for annual periods beginning on or after 1 January 2019.
+3
+Effective for annual periods beginning on or after 1 January 2018.
+2
+1 Effective for annual periods beginning on or after 1 January 2017.
+Further information about those HKFRSS that are expected to be applicable to the Group is as follows:
+Mainland China
+("BYD Auto Sales")**
+1,050,000,000
+PRC/Mainland China
+RMB100,000,000
+65.76%
+Manufacture and sale of mobile
+handset components
+PRC/Mainland China
+RMB10,000,000
+65.76%
+99.88%
+Manufacture and sale of mobile
+BYD Auto Sales Co., Ltd
+PRC/
+RMB
+4.29%
+94.76%
+32,294,404
+Mainland China
+handset components
+Capital contributions to associates
+(185,155)
+(1,001,228)
+(51,690) (1,052,918)
+(Increase)/decrease in a long-term receivable
+Increase in amounts due from joint ventures and associates
+(Increase)/decrease in prepayments, deposits and other receivables
+Increase in trade and bills receivables
+Increase in inventories
+9,893,232
+16,484,670
+827,996
+1,607,975
+17
+103,001
+110,769
+15
+57
+Amortisation of other intangible assets
+Increase in property under development
+(1,984,925)
+(6,223,543)
+(19,086,431)
+11,691
+22,198
+Decrease in a completed property held for sale
+(1,139,340)
+(587,217)
+Decrease in advances from customers
+(18,207)
+Recognition of prepaid land lease payments
+Increase in derivative financial instrument
+(8,608)
+249,538
+(187,895)
+289,809
+(1,162,299)
+(740,342)
+(75,817)
+(5,282,230)
+(41,301)
+1,023
+Impairment of investment in associate
+116,871
+34
+44
+Proceeds from issue of corporate bonds
+Corporate bond issue expenses
+Proceeds from issue of shares
+Shares issue expenses
+New borrowings
+Proceeds from issue of a perpetual loan
+Repayment of borrowings
+Perpetual loan interest distributed
+Dividends paid to a non-controlling shareholder
+Dividends paid to owners of the parent
+(Increase)/decrease in pledged deposits
+Net cash flows from financing activities
+595,800
+3,200,000
+1,500,000
+Interest paid
+Increase in trade and bills payables
+CASH FLOWS FROM FINANCING ACTIVITIES
+(10,735,989)
+169,854
+17
+Impairment of other intangible assets
+(157)
+Impairment losses of prepayments, deposits and other receivables reversed
+(35,208)
+(86,108)
+Net cash flows used in investing activities
+23
+(76,213)
+Capital contributions to joint ventures
+(912,893)
+(709,780)
+Prepayment of shareholding in a subsidiary
+(284,600)
+(13,421,402)
+(14,012)
+(7,898)
+3,734,088
+Increase in other payables
+Disposal of a jointly-controlled entity
+526,182
+9,971
+35
+604,592
+75,993
+505,799
+273,921
+(635,348)
+(252,681)
+Disposal of a subsidiary
+Receipt of government grants
+Withdrawal of short-term deposits
+Investment in short-term deposits
+(321,843)
+420
+Disposal of associates
+5,700
+500
+201,376
+Decrease/(increase) in financial product
+16,290
+Withdrawal of available-for-sale investments
+1,808,561
+196,641
+other intangibles assets
+(643,086)
+Proceeds from disposal of items of property, plant and equipment and
+5,254
+Dividend income from available-for-sale investments
+13,012
+(1,659,651)
+(1,377,278)
+26,068
+Receipt of disposal of derivative financial instrument
+Additions to other intangible assets
+1,466
+Increase in prepaid land lease payments
+(6,217,655)
+(6,193,790)
+152,701
+Interest received
+4,188,113
+(846,291)
+Cash (used in)/generated from operations
+370,196
+514,089
+53,419
+Increase in provision for warranties
+(238,301)
+(Decrease)/increase in amounts due to related parties
+369,480
+70,428
+Increase in amounts due to joint ventures and associates
+903,680
+1,237,772
+367,896
+5,599,511
+Taxes paid
+(399,438)
+(4,091,011)
+(4,839,296)
+Increase in non-current prepayments
+CASH FLOWS USED IN INVESTING ACTIVITIES
+Purchases of items of property, plant and equipment
+2015
+RMB'000
+2016
+RMB'000
+Notes
+(1,151,981)
+Year ended 31 December 2016
+BYD Company Limited Annual Report 2016
+54
+53
+continued/...
+3,842,094
+(1,845,571)
+Net cash flows (used in)/from operating activities
+Consolidated Statement of Cash Flows
+32
+32
+32
+Loss on disposal of investment in a jointly-controlled entity
+Depreciation
+(526)
+Gain on disposal of investment in associates
+(1,376)
+Gain on disposal of finance product
+(13,012)
+(26,068)
+Gain on disposal of derivative financial instrument
+18,207
+Available-for-sale investments (transfer from equity on disposal)
+Fair value gains, net:
+(1,438,165)
+158,341
+Loss/(gain) on disposal of subsidiaries
+36,051
+560
+Impairment of inventories
+Impairment of trade receivables
+Impairment of prepayments, deposits and other receivables
+Mainland China
+manufacture and sale of
+components of mobile
+handsets and other consumer
+electronics; Development,
+sale and leasing of residential
+properties and property
+management (provided only to
+employees of the Company);
+54,748
+24
+234,660
+136,717
+124,083
+180,577
+357,036
+4,485,620
+5,308,825
+14
+16222
+Impairment losses of trade receivables reversed
+23
+6
+Loss on disposal of items of non-current assets
+(159,282)
+2015
+RMB'000
+2016
+RMB'000
+Notes
+CASH FLOWS FROM OPERATING ACTIVITIES
+Year ended 31 December 2016
+Consolidated Statement of Cash Flows
+BYD Company Limited Annual Report 2016
+Profit before tax
+These reserve accounts comprise the consolidated reserves of RMB44,731,986,000 (2015: RMB26,618,404,000) in the consolidated statement of financial position.
+3,795,800 51,255,929
+(161,200)* 16,236,960*
+2,728,143 19,980,490* 5,602,363* 3,073,373*
+(688,622)
+688,622
+(43,033)
+43,033
+4,153,434 55,409,363
+90%
+6,568,410
+Adjustments for:
+(204,899)
+Government grants and subsidies
+(1,466)
+(5,254)
+Dividend income from available-for-sale investments
+(53,421)
+(152,701)
+3,794,986
+5
+242,799
+599,824
+Share of profits and losses of joint ventures and associates
+1,517,003
+1,799,609
+8
+Finance costs
+Bank interest income
+10%
+PRC/ US$150,000,000
+Huizhou BYD Battery Co., Ltd
+("BYD HZ Battery")***
+Cash and cash equivalents at beginning of year
+6,010,931
+3,950,415
+Effect of foreign exchange rate changes, net
+97,059
+204,626
+CASH AND CASH EQUIVALENTS AT END OF YEAR
+1,855,890
+7,111,234
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+1. Corporate and Group information
+BYD Company Limited (the "Company") is a joint stock limited liability company registered in the People's Republic of China (the "PRC"). The
+Company's H shares have been listed on The Stock Exchange of Hong Kong Limited since 31 July 2002. The registered office of the Company is
+located at Yan An Road, Kuichong, Dapeng New District, Shenzhen, Guangdong Province, the PRC.
+The principal activities of the Company and its subsidiaries (collectively referred to as the "Group") are the research, development, manufacture
+and sale of rechargeable battery and photovoltaic business, automobiles and related products, handset components and other electronic
+products.
+Information about subsidiaries
+6,010,931
+Particulars of the Company's principal subsidiaries are as follows:
+1,003,244
+NET INCREASE IN CASH AND CASH EQUIVALENTS
+14,473,000
+(103,930)
+31,223,339
+24,534,345
+(26,691,182)
+(18,760,798)
+(1,970,560)
+RMB
+(1,725,996)
+(36,671)
+(51,690)
+(1,001,228)
+(18,177)
+46,803
+16,270,217
+8,749,785
+(185,155)
+(185,155)
+Place of
+incorporation/
+registration and
+business
+PRC/ RMB1,351,010,101
+99%
+Mainland China
+BYD Precision Manufacture Co., Ltd
+("BYD Precision")***^
+PRC/ US$145,000,000
+65.76%
+Mainland China
+BYD Auto Co., Ltd ("BYD Auto")***
+Research, development, sale and
+manufacture of automobiles
+of mobile handset components
+and modules
+BYD (Huizhou) Co., Ltd ("BYD HZ")***
+PRC/ US$150,000,000
+55%
+45%
+Research, development,
+Mainland China
+Manufacture, assembly and sale
+Name
+Research, development, sale and
+manufacture of Li-ion batteries
+("BYD SH")***
+Issued ordinary/
+registered
+share capital
+Percentage of
+equity attributable
+to the Company
+Direct
+Indirect
+Principal activities
+BYD Lithium Batteries Co., Ltd.
+("BYD Li-ion")***
+PRC/
+Mainland China
+RMB6,160,000,000
+Mainland China
+Research, development, sale and
+manufacture of Li-ion batteries
+Shanghai BYD Co., Ltd
+PRC/
+US$63,500,000
+75%
+25%
+100%
+38.5%
+51,255,929
+Trade and bills payables
+49,375,631
+66,753,174
+2015
+RMB'000
+2016
+RMB'000
+Notes
+Total equity
+Non-controlling interests
+Perpetual loans
+29
+Reserves
+EQUITY
+Net assets
+Total non-current liabilities
+Other liabilities
+Deferred income
+Deferred tax liabilities
+Interest-bearing bank and other borrowings
+NON-CURRENT LIABILITIES
+Equity attributable to owners of the parent
+Share capital
+31
+22
+9,338,520
+3,795,800
+34
+26,618,404
+44,731,986
+33
+2,476,000
+2,728,143
+32
+333
+36,029,241
+55,409,363
+13,346,390
+11,343,811
+2,232
+1,546,108
+568,149
+549,903
+1,454,710
+678
+28
+11,229,901
+TOTAL ASSETS LESS CURRENT LIABILITIES
+31 December 2016
+Consolidated Statement of Financial Position
+BYD Company Limited Annual Report 2016
+463,856
+39(b)
+Due to joint ventures and associates
+26,412,860
+32,928,441
+29
+Interest-bearing bank and other borrowings
+155,629
+419,268
+28
+Deferred income
+2,438,009
+1,850,792
+Advances from customers
+4,557,156
+5,929,004
+27
+30,655,830
+34,663,130
+393,428
+3,200,000
+Due to related parties
+116,624
+50
+continued/...
+49,375,631
+66,753,174
+(11,590,982)
+36,199
+TOTAL ASSETS LESS CURRENT LIABILITIES
+NET CURRENT ASSETS/(LIABILITIES)
+66,110,124
+78,317,604
+Total current liabilities
+778,577
+1,292,666
+30
+30
+289,206
+653,823
+Tax payable
+429,429
+39(b)
+CURRENT LIABILITIES
+54,519,142
+78,353,803
+65,773
+Investments in joint ventures
+18
+Investments in associates
+Available-for-sale investments
+20
+Deferred tax assets
+31
+Property under development
+21
+8222
+1,751,159
+1,522,017
+19
+493,599
+366,698
+3,225,238
+3,071,357
+1,448,262
+253,668
+1,080,416
+Long-term receivable
+4,567,407
+Other payables
+BYD Company Limited Annual Report 2016 49
+Consolidated Statement of Financial Position
+31 December 2016
+Notes
+2016
+RMB'000
+2015
+RMB'000
+NON-CURRENT ASSETS
+Property, plant and equipment
+Prepaid land lease payments
+Goodwill
+Other intangible assets
+1567
+14
+42,048,635
+5,182,739
+38,126,333
+4,655,610
+65,914
+6,759,111
+Non-current prepayments
+24
+65,914
+7,102,816
+3,997,044
+26
+921,243
+Total non-current assets
+Short-term deposits
+Cash and cash equivalents
+39(b)
+249
+338,332
+21
+33,840
+56,038
+18,207
+25
+335,072
+316,895
+25
+247,360
+268,600
+25
+7,111,234
+6,010,931
+Total current assets
+Pledged deposits
+912,635
+Derivative financial instruments
+Due from the related parties
+66,716,975
+60,966,613
+CURRENT ASSETS
+Inventories
+22
+17,378,439
+15,750,550
+Trade and bills receivables
+23
+45,732,885
+26,678,639
+Prepayments, deposits and other receivables
+24
+4,635,440
+3,280,091
+Due from the joint ventures and associates
+39(b)
+2,879,284
+1,800,859
+Completed property held for sale
+22
+Provision
+After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is tested for impairment annually or more
+frequently if events or changes in circumstances indicate that the carrying value may be impaired. The Group performs its annual impairment
+test of goodwill as at 31 December. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition
+date, allocated to each of the Group's cash-generating units, or groups of cash-generating units, that are expected to benefit from the synergies
+of the combination, irrespective of whether other assets or liabilities of the Group are assigned to those units or groups of units.
+31 December 2016
+Leases (continued)
+Assets acquired through hire purchase contracts of a financing nature are accounted for as finance leases, but are depreciated over their
+estimated useful lives.
+Leases where substantially all the rewards and risks of ownership of assets remain with the lessor are accounted for as operating leases. Where
+the Group is the lessor, assets leased by the Group under operating leases are included in non-current assets, and rentals receivable under the
+operating leases are credited to the statement of profit or loss on the straight-line basis over the lease terms. Where the Group is the lessee,
+rentals payable under operating leases net of any incentives received from the lessor are charged to the statement of profit or loss on the
+straight-line basis over the lease terms.
+Prepaid land lease payments under operating leases are initially stated at cost and subsequently recognised on the straight-line basis over the
+lease terms.
+When the lease payments cannot be allocated reliably between the land and buildings elements, the entire lease payments are included in the
+cost of the land and buildings as a finance lease in property, plant and equipment.
+Sale and leaseback
+When a sale and leaseback transaction results in a finance lease, the transaction in substance is a mean whereby the lessor provides finance to
+the lessee, with the asset as security. An excess of sales proceeds over the carrying amount is deferred and amortised over the lease term. The
+previous carrying value of the asset is left unchanged, with the sales proceeds being shown as a liability. The creditor balance is recorded as
+other borrowings on the consolidated statement of financial position.
+Investments and other financial assets
+Initial recognition and measurement
+Financial assets are classified, at initial recognition, as financial assets at fair value through profit or loss and loans, receivables and available-for
+sale financial investments, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. When financial assets are
+recognised initially, they are measured at fair value plus transaction costs that are attributable to the acquisition of the financial assets, except in
+the case of financial assets recorded at fair value through profit or loss.
+All regular way purchases and sales of financial assets are recognised on the trade date, that is, the date that the Group commits to purchase
+or sell the asset. Regular way purchases or sales are purchases or sales of financial assets that require delivery of assets within the period
+generally established by regulation or convention in the marketplace.
+Subsequent measurement
+The subsequent measurement of financial assets depends on their classification as follows:
+Loans and receivables
+Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. After
+initial measurement, such assets are subsequently measured at amortised cost using the effective interest rate method less any allowance for
+impairment. Amortised cost is calculated by taking into account any discount or premium on acquisition and includes fees or costs that are an
+integral part of the effective interest rate. The effective interest rate amortisation is included in other income and gains in the statement of profit
+or loss. The loss arising from impairment is recognised in the statement of profit or loss in finance costs for loans and in other expenses for
+receivables.
+Available-for-sale financial investments
+Available-for-sale financial investments are non-derivative financial assets in listed and unlisted equity investments and debt securities. Equity
+investments classified as available for sale are those which are neither classified as held for trading nor designated as at fair value through
+profit or loss. Debt securities in this category are those which are intended to be held for an indefinite period of time and which may be sold in
+response to needs for liquidity or in response to changes in market conditions.
+Impairment is determined by assessing the recoverable amount of the cash-generating unit (group of cash-generating units) to which the
+goodwill relates. Where the recoverable amount of the cash-generating unit (group of cash-generating units) is less than the carrying amount, an
+impairment loss is recognised. An impairment loss recognised for goodwill is not reversed in a subsequent period.
+66
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+2.4 Summary of significant accounting policies (continued)
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+Leases that transfer substantially all the rewards and risks of ownership of assets to the Group, other than legal title, are accounted for as
+finance leases. At the inception of a finance lease, the cost of the leased asset is capitalised at the present value of the minimum lease
+payments and recorded together with the obligation, excluding the interest element, to reflect the purchase and financing. Assets held under
+capitalised finance leases, including prepaid land lease payments under finance leases, are included in property, plant and equipment, and
+depreciated over the shorter of the lease terms and the estimated useful lives of the assets. The finance costs of such leases are charged to the
+statement of profit or loss so as to provide a constant periodic rate of charge over the lease terms.
+The unit of production method is used to write off the cost of moulds.
+63
+64
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+2.4 Summary of significant accounting policies (continued)
+Property, plant and equipment and depreciation (continued)
+Where parts of an item of property, plant and equipment have different useful lives, the cost of that item is allocated on a reasonable basis
+among the parts and each part is depreciated separately. Residual values, useful lives and depreciation methods are reviewed, and adjusted if
+appropriate, at least at each financial year end.
+An item of property, plant and equipment including any significant part initially recognised is derecognised upon disposal or when no future
+economic benefits are expected from its use or disposal. Any gain or loss on disposal or retirement recognised in the statement of profit or loss
+in the year the asset is derecognised is the difference between the net sales proceeds and the carrying amount of the relevant asset.
+Construction in progress representing property and plant under construction is stated at cost less any impairment losses, and is not depreciated.
+Cost comprises the direct costs of construction and capitalised borrowing costs on related borrowed funds during the period of construction.
+Construction in progress is reclassified to the appropriate category of property, plant and equipment when completed and ready for use.
+2.4 Summary of significant accounting policies (continued)
+Intangible assets (other than goodwill)
+Research and development costs
+All research costs are charged to the statement of profit or loss as incurred.
+Expenditure incurred on projects to develop new products is capitalised and deferred only when the Group can demonstrate the technical
+feasibility of completing the intangible asset so that it will be available for use or sale, its intention to complete and its ability to use or sell the
+asset, how the asset will generate future economic benefits, the availability of resources to complete the project and the ability to measure
+reliably the expenditure during the development. Product development expenditure which does not meet these criteria is expensed when
+incurred.
+Deferred development costs are stated at cost less any impairment losses. The development costs are amortised using the straight-line basis
+over the commercial lives of the underlying products not exceeding five years, except for those of new energy vehicles which are amortised using
+the unit of production method, commencing from the date when the products are put into commercial production.
+Industrial proprietary rights
+Industrial proprietary rights are stated at cost less any impairment losses and are amortised on the straight-line basis over their estimated useful
+lives of five to ten years.
+Know-how
+Know-how is stated at cost less any impairment losses and is amortised on the straight-line basis over its estimated useful life of five years.
+Software
+Software is stated at cost less any impairment losses and is amortised on the straight-line basis over its estimated useful life of five years.
+Leases
+Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business
+combination is the fair value at the date of acquisition. The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible
+assets with finite lives are subsequently amortised over the useful economic life and assessed for impairment whenever there is an indication
+that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are
+reviewed at least at each financial year end.
+Investments and other financial assets (continued)
+Available-for-sale financial investments (continued)
+After initial recognition, available-for-sale financial investments are subsequently measured at fair value, with unrealised gains or losses
+recognised as other comprehensive income in the available-for-sale investment revaluation reserve until the investment is derecognised, at
+which time the cumulative gain or loss is recognised in the statement of profit or loss in other income, or until the investment is determined to
+be impaired, when the cumulative gain or loss is reclassified from the available-for-sale investment revaluation reserve to the statement of profit
+or loss in other gains or losses. Interest and dividends earned whilst holding the available-for-sale financial investments are reported as interest
+income and dividend income, respectively and are recognised in the statement of profit or loss as other income in accordance with the policies
+set out for “Revenue recognition" below.
+67
+68
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+2.4 Summary of significant accounting policies (continued)
+Financial liabilities and financial instruments
+Initial recognition and measurement
+Financial liabilities and equity instruments issued by a group entity are classified as either financial liabilities or as equity in accordance with the
+substance of the contractual arrangements and the definitions of a financial liability and an equity instrument.
+An equity instrument is any contract that evidences a residual interest in the assets of the Group after deducting all of its liabilities. Equity
+instruments issued by the Group are recognised at the proceeds received net of direct issue costs.
+Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, or as
+derivatives designated as hedging instruments in an effective hedge, as appropriate.
+The determination of what is "significant" or "prolonged" requires judgement. In making this judgement, the Group evaluates, among other
+factors, the duration or extent to which the fair value of an investment is less than its cost.
+All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings, net of directly attributable transaction costs.
+Subsequent measurement
+The subsequent measurement of financial liabilities depends on their classification as follows:
+Financial liabilities at fair value through profit or loss
+Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial
+recognition as at fair value through profit or loss.
+Financial liabilities are classified as held for trading if they are acquired for the purpose of repurchasing in the near term. This category includes
+derivative financial instruments entered into by the Group that are not designated as hedging instruments in hedge relationships as defined by
+HKAS 39. Separated embedded derivatives are also classified as held for trading unless they are designated as effective hedging instruments.
+Gains or losses on liabilities held for trading are recognised in the statement of profit or loss. The net fair value gain or loss recognised in the
+statement of profit or loss does not include any interest charged on these financial liabilities.
+Financial liabilities designated upon initial recognition as at fair value through profit or loss are designated at the date of initial recognition and
+only if the criteria in HKAS 39 are satisfied.
+Loans and borrowings
+After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost, using the effective interest rate
+method unless the effect of discounting would be immaterial, in which case they are stated at cost. Gains and losses are recognised in the
+statement of profit or loss when the liabilities are derecognised as well as through the effective interest rate amortisation process.
+Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the
+effective interest rate. The effective interest rate amortisation is included in finance costs in the statement of profit or loss.
+Financial guarantee contracts
+Financial guarantee contracts issued by the Group are those contracts that require a payment to be made to reimburse the holder for a loss it
+incurs because the specified debtor fails to make a payment when due in accordance with the terms of a debt instrument. A financial guarantee
+contract is recognised initially as a liability at its fair value, adjusted for transaction costs that are directly attributable to the issuance of the
+guarantee. Subsequent to initial recognition, the Group measures the financial guarantee contract at the higher of: (i) the amount of the best
+estimate of the expenditure required to settle the present obligation at the end of the reporting period; and (ii) the amount initially recognised
+less, when appropriate, cumulative amortisation.
+The Group's financial liabilities include trade and other payables, and interest-bearing bank and other borrowings.
+5%
+In the case of equity investments classified as available for sale, objective evidence would include a significant or prolonged decline in the fair
+value of an investment below its cost. "Significant" is evaluated against the original cost of the investment and "prolonged" against the period in
+which the fair value has been below its original cost. Where there is evidence of impairment, the cumulative loss – measured as the difference
+between the acquisition cost and the current fair value, less any impairment loss on that investment previously recognised in the statement of
+profit or loss is removed from other comprehensive income and recognised in the statement of profit or loss. Impairment losses on equity
+instruments classified as available for sale are not reversed through the statement of profit or loss. Increases in their fair value after impairment
+are recognised directly in other comprehensive income.
+For available-for-sale financial investments, the Group assesses at the end of each reporting period whether there is objective evidence that an
+investment or a group of investments is impaired.
+When the fair value of unlisted equity investments cannot be reliably measured because (a) the variability in the range of reasonable fair value
+estimates is significant for that investment or (b) the probabilities of the various estimates within the range cannot be reasonably assessed and
+used in estimating fair value, such investments are stated at cost less any impairment losses.
+The Group evaluates whether the ability and intention to sell its available-for-sale financial assets in the near term are still appropriate. When, in
+rare circumstances, the Group is unable to trade these financial assets due to inactive markets, the Group may elect to reclassify these financial
+assets if management has the ability and intention to hold the assets for the foreseeable future or until maturity.
+For a financial asset reclassified from the available-for-sale category, the fair value carrying amount at the date of reclassification becomes
+its new amortised cost and any previous gain or loss on that asset that has been recognised in equity is amortised to profit or loss over the
+remaining life of the investment using the effective interest rate. Any difference between the new amortised cost and the maturity amount is also
+amortised over the remaining life of the asset using the effective interest rate. If the asset is subsequently determined to be impaired, then the
+amount recorded in equity is reclassified to the statement of profit or loss.
+Derecognition of financial assets
+A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognised (i.e.,
+removed from the Group's consolidated statement of financial position) when:
+•
+the rights to receive cash flows from the asset have expired; or
+the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full
+without material delay to a third party under a "pass-through" arrangement; and either (a) the Group has transferred substantially all the
+risks and rewards of the asset, or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but
+has transferred control of the asset.
+When the Group has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if
+and to what extent it has retained the risk and rewards of ownership of the asset. When it has neither transferred nor retained substantially all
+the risks and rewards of the asset nor transferred control of the asset, the Group continues to recognise the transferred asset to the extent of the
+Group's continuing involvement. In that case, the Group also recognises an associated liability. The transferred asset and the associated liability
+are measured on a basis that reflects the rights and obligations that the Group has retained.
+Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of
+the asset and the maximum amount of consideration that the Group could be required to repay.
+Impairment of financial assets
+If an available-for-sale asset is impaired, an amount comprising the difference between its cost (net of any principal payment and amortisation)
+and its current fair value, less any impairment loss previously recognised in the statement of profit or loss, is removed from other comprehensive
+income and recognised in the statement of profit or loss.
+The Group assesses at the end of each reporting period whether there is objective evidence that a financial asset or a group of financial
+assets is impaired. An impairment exists if one or more events that occurred after the initial recognition of the asset have an impact on the
+estimated future cash flows of the financial asset or the group of financial assets that can be reliably estimated. Evidence of impairment
+may include indications that a debtor or a group of debtors is experiencing significant financial difficulty, default or delinquency in interest or
+principal payments, the probability that they will enter bankruptcy or other financial reorganisation and observable data indicating that there is a
+measurable decrease in the estimated future cash flows, such as changes in arrears or economic conditions that correlate with defaults.
+Notes to Financial Statements
+31 December 2016
+2.4 Summary of significant accounting policies (continued)
+Impairment of financial assets (continued)
+Financial assets carried at amortised cost
+For financial assets carried at amortised cost, the Group first assesses whether impairment exists individually for financial assets that are
+individually significant, or collectively for financial assets that are not individually significant. If the Group determines that no objective evidence
+of impairment exists for an individually assessed financial asset, whether significant or not, it includes the asset in a group of financial assets
+with similar credit risk characteristics and collectively assesses them for impairment. Assets that are individually assessed for impairment and for
+which an impairment loss is, or continues to be, recognised are not included in a collective assessment of impairment.
+The amount of any impairment loss identified is measured as the difference between the asset's carrying amount and the present value of
+estimated future cash flows (excluding future credit losses that have not yet been incurred). The present value of the estimated future cash flows
+is discounted at the financial asset's original effective interest rate (i.e., the effective interest rate computed at initial recognition).
+The carrying amount of the asset is reduced or through the use of an allowance account and the loss is recognised in the statement of profit or
+loss. Interest income continues to be accrued on the reduced carrying amount using the rate of interest used to discount the future cash flows
+for the purpose of measuring the impairment loss. Loans and receivables together with any associated allowance are written off when there is no
+realistic prospect of future recovery and all collateral has been realised or has been transferred to the Group.
+If, in a subsequent period, the amount of the estimated impairment loss increases or decreases because of an event occurring after the
+impairment was recognised, the previously recognised impairment loss is increased or reduced by adjusting the allowance account. If a write-off
+is later recovered, the recovery is credited to the statement of profit or loss.
+Financial assets carried at cost
+If there is objective evidence that an impairment loss has been incurred on an unquoted equity instrument that is not carried at fair value
+because its fair value cannot be reliably measured, the amount of the loss is measured as the difference between the asset's carrying amount
+and the present value of estimated future cash flows discounted at the current market rate of return for a similar financial asset. Impairment
+losses on these assets are not reversed.
+Available-for-sale financial investments
+BYD Company Limited Annual Report 2016
+years and below
+65
+Office equipment and fixtures
+HKFRS 15 establishes a new five-step model to account for revenue arising from contracts with customers. Under HKFRS 15, revenue
+is recognised at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring goods or
+services to a customer. The principles in HKFRS 15 provide a more structured approach for measuring and recognising revenue. The standard
+also introduces extensive qualitative and quantitative disclosure requirements, including disaggregation of total revenue, information about
+performance obligations, changes in contract asset and liability account balances between periods and key judgements and estimates. The
+standard will supersede all current revenue recognition requirements under HKFRSS. In June 2016, the HKICPA issued amendments to HKFRS
+15 to address the implementation issues on identifying performance obligations, application guidance on principal versus agent and licences of
+intellectual property, and transition. The amendments are also intended to help ensure a more consistent application when entities adopt HKFRS
+15 and decrease the cost and complexity of applying the standard. The Group expects to adopt HKFRS 15 on 1 January 2018. The Group is
+currently assessing the impact of the adoption of HKFRS 15.
+The amendments to HKFRS 10 and HKAS 28 (2011) address an inconsistency between the requirements in HKFRS 10 and in HKAS 28 (2011) in
+dealing with the sale or contribution of assets between an investor and its associate or joint venture. The amendments require a full recognition
+of a gain or loss when the sale or contribution of assets between an investor and its associate or joint venture constitutes a business. For a
+transaction involving assets that do not constitute a business, a gain or loss resulting from the transaction is recognised in the investor's profit or
+loss only to the extent of the unrelated investor's interest in that associate or joint venture. The amendments are to be applied prospectively. The
+previous mandatory effective date of amendments to HKFRS 10 and HKAS 28 (2011) was removed by the HKICPA in January 2016 and a new
+mandatory effective date will be determined after the completion of a broader review of accounting for associates and joint ventures. However,
+the amendments are available for application now.
+HKFRS 9 requires an impairment on debt instruments recorded at amortised cost or at fair value through other comprehensive income,
+lease receivables, loan commitments and financial guarantee contracts that are not accounted for at fair value through profit or loss under
+HKFRS 9, to be recorded based on an expected credit loss model either on a twelve-month basis or a lifetime basis. The Group expects to
+apply the simplified approach and record lifetime expected losses that are estimated based on the present value of all cash shortfalls over
+the remaining life of all of its trade and other receivables. The Group will perform a more detailed analysis which considers all reasonable
+and supportable information, including forward-looking elements, for estimation of expected credit losses on its trade and other receivable
+upon the adoption of HKFRS 9.
+(b) Impairment
+2.3 Issued but not yet effective Hong Kong financial reporting standards (continued)
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+Where goodwill has been allocated to a cash-generating unit (or group of cash-generating units) and part of the operation within that unit is
+disposed of, the goodwill associated with the operation disposed of is included in the carrying amount of the operation when determining the gain
+or loss on the disposal. Goodwill disposed of in these circumstances is measured based on the relative value of the operation disposed of and the
+portion of the cash-generating unit retained.
+61
+62
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+2.4 Summary of significant accounting policies (continued)
+Fair value measurement
+The Group measures its available-for-sale investment at fair value at the end of each reporting period. Fair value is the price that would be
+received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair
+value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either in the principal
+market for the asset or liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. The principal or
+the most advantageous market must be accessible by the Group. The fair value of an asset or a liability is measured using the assumptions that
+market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.
+A fair value measurement of a non-financial asset takes into account a market participant's ability to generate economic benefits by using the
+asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.
+The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value,
+maximising the use of relevant observable inputs and minimising the use of unobservable inputs.
+All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy,
+described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:
+Level 1
+based on quoted prices (unadjusted) in active markets for identical assets or liabilities
+Level 2
+HKFRS 16 replaces HKAS 17 Leases, HK(IFRIC)-Int 4 Determining whether an Arrangement contains a Lease, HK(SIC)-Int 15 Operating Leases
+Incentives and HK(SIC)-Int 27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease. The standard sets out the principles
+for the recognition, measurement, presentation and disclosure of leases and requires lessees to recognise assets and liabilities for most leases.
+The standard includes two recognition exemptions for lessees leases of low-value assets and short-term leases. At the commencement
+-
+date of a lease, a lessee will recognise a liability to make lease payments (i.e., the lease liability) and an asset representing the right to use the
+underlying asset during the lease term (i.e., the right-of-use asset). The right-of-use asset is subsequently measured at cost less accumulated
+depreciation and any impairment losses unless the right-of-use asset meets the definition of investment property in HKAS 40. The lease
+liability is subsequently increased to reflect the interest on the lease liability and reduced for the lease payments. Lessees will be required to
+separately recognise the interest expense on the lease liability and the depreciation expense on the right-of-use asset. Lessees will also be
+required to remeasure the lease liability upon the occurrence of certain events, such as change in the lease term and change in future lease
+payments resulting from a change in an index or rate used to determine those payments. Lessees will generally recognise the amount of the
+remeasurement of the lease liability as an adjustment to the right-of-use asset. Lessor accounting under HKFRS 16 is substantially unchanged
+from the accounting under HKAS 17. Lessors will continue to classify all leases using the same classification principle as in HKAS 17 and
+distinguish between operating leases and finance leases. The Group expects to adopt HKFRS 16 on 1 January 2019 and is currently assessing
+the impact of HKFRS 16 upon adoption.
+59
+Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred, the amount recognised for
+non-controlling interests and any fair value of the Group's previously held equity interests in the acquiree over the identifiable net assets acquired
+and liabilities assumed. If the sum of this consideration and other items is lower than the fair value of the net assets acquired, the difference is,
+after reassessment, recognised in profit or loss as a gain on bargain purchase.
+Any contingent consideration to be transferred by the acquirer is recognised at fair value at the acquisition date. Contingent consideration
+classified as an asset or liability is measured at fair value with changes in fair value recognised in profit or loss. Contingent consideration that is
+classified as equity is not remeasured and subsequent settlement is accounted for within equity.
+If the business combination is achieved in stages, the previously held equity interest is remeasured at its acquisition date fair value and any
+resulting gain or loss is recognised in profit or loss.
+When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in
+accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. This includes the separation
+of embedded derivatives in host contracts of the acquiree.
+Business combinations are accounted for using the acquisition method. The consideration transferred is measured at the acquisition date fair
+value which is the sum of the acquisition date fair values of assets transferred by the Group, liabilities assumed by the Group to the former
+owners of the acquiree and the equity interests issued by the Group in exchange for control of the acquiree. For each business combination, the
+Group elects whether to measure the non-controlling interests in the acquiree that are present ownership interests and entitle their holders to a
+proportionate share of net assets in the event of liquidation at fair value or at the proportionate share of the acquiree's identifiable net assets. All
+other components of non-controlling interests are measured at fair value. Acquisition-related costs are expensed as incurred.
+5
+2.4 Summary of significant accounting policies (continued)
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+When an investment in an associate or a joint venture is classified as held for sale, it is accounted for in accordance with HKFRS 5 Non-current
+Assets Held for Sale and Discontinued Operations.
+Level 3
+If an investment in an associate becomes an investment in a joint venture or vice versa, the retained interest is not remeasured. Instead, the
+investment continues to be accounted for under the equity method. In all other cases, upon loss of significant influence over the associate or joint
+control over the joint venture, the Group measures and recognises any retained investment at its fair value. Any difference between the carrying
+amount of the associate or joint venture upon loss of significant influence or joint control and the fair value of the retained investment and
+proceeds from disposal is recognised in profit or loss.
+The Group's investments in associates and joint ventures are stated in the consolidated statement of financial position at the Group's share of
+net assets under the equity method of accounting, less any impairment losses.
+A joint venture is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the
+joint venture. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant
+activities require the unanimous consent of the parties sharing control.
+An associate is an entity in which the Group has a long term interest of generally not less than 20% of the equity voting rights and over which it
+is in a position to exercise significant influence. Significant influence is the power to participate in the financial and operating policy decisions of
+the investee, but is not control or joint control over those policies.
+Investments in associates and joint ventures
+2.4 Summary of significant accounting policies
+Amendments to HKAS 7 require an entity to provide disclosures that enable users of financial statements to evaluate changes in liabilities arising
+from financing activities, including both changes arising from cash flows and non-cash changes. The amendments will result in additional
+disclosure to be provided in the financial statements. The Group expects to adopt the amendments from 1 January 2017.
+2.3 Issued but not yet effective Hong Kong financial reporting standards (continued)
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+60
+The Group's share of the post-acquisition results and other comprehensive income of associates and joint ventures is included in the
+consolidated statement of profit or loss and consolidated other comprehensive income, respectively. In addition, when there has been a change
+recognised directly in the equity of the associate or joint venture, the Group recognises its share of any changes, when applicable, in the
+consolidated statement of changes in equity. Unrealised gains and losses resulting from transactions between the Group and its associates or
+joint ventures are eliminated to the extent of the Group's investments in the associates or joint ventures, except where unrealised losses provide
+evidence of an impairment of the asset transferred. Goodwill arising from the acquisition of associates or joint ventures is included as part of the
+Group's investments in associates or joint ventures.
+-
+Business combinations and goodwill
+based on valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable
+(v)
+the entity is a post-employment benefit plan for the benefit of employees of either the Group or an entity related to the Group;
+(vi)
+the entity is controlled or jointly controlled by a person identified in (a);
+(vii) a person identified in (a)(i) has significant influence over the entity or is a member of the key management personnel of the entity (or
+of a parent of the entity); and
+(viii) the entity, or any member of a group of which it is a part, provides key management personnel services to the Group or to the parent
+of the Group.
+Property, plant and equipment and depreciation
+Property, plant and equipment, other than construction in progress, are stated at cost less accumulated depreciation and any impairment
+losses. The cost of an item of property, plant and equipment comprises its purchase price and any directly attributable costs of bringing the
+asset to its working condition and location for its intended use. Expenditure incurred after items of property, plant and equipment have been put
+into operation, such as repairs and maintenance, is normally charged to the statement of profit or loss in the period in which it is incurred. In
+situations where the recognition criteria are satisfied, the expenditure for a major inspection is capitalised in the carrying amount of the asset
+as a replacement. Where significant parts of property, plant and equipment are required to be replaced at intervals, the Group recognises such
+parts as individual assets with specific useful lives and depreciates them accordingly.
+Except for moulds, depreciation is calculated on the straight-line basis to write off the cost of each item of property, plant and equipment to its
+residual value over its estimated useful life. The estimated useful lives and residual value are as follows:
+Estimated useful lives
+Residual value
+one entity is a joint venture of a third entity and the other entity is an associate of the third entity;
+Freehold land
+Leasehold improvements
+Machinery and equipment
+Motor vehicles
+Not depreciated
+10 to 50 years
+5%
+Over the shorter of the lease terms and 5 years
+5 to 10 years
+5 years
+based on valuation techniques for which the lowest level input that is significant to the fair value measurement is observable,
+either directly or indirectly
+5%
+Buildings
+(iv)
+5%
+one entity is an associate or joint venture of the other entity (or of a parent, subsidiary or fellow subsidiary of the other entity);
+the entity and the Group are joint ventures of the same third party;
+For assets and liabilities that are recognised in the financial statements on a recurring basis, the Group determines whether transfers have
+occurred between levels in the hierarchy by reassessing categorisation (based on the lowest level input that is significant to the fair value
+measurement as a whole) at the end of each reporting period.
+An impairment loss is recognised only if the carrying amount of an asset exceeds its recoverable amount. In assessing value in use, the
+estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the
+time value of money and the risks specific to the asset. An impairment loss is charged to the statement of profit or loss in the period in which it
+arises in those expense categories consistent with the function of the impaired asset.
+An assessment is made at the end of each reporting period as to whether there is an indication that previously recognised impairment losses
+may no longer exist or may have decreased. If such an indication exists, the recoverable amount is estimated. A previously recognised
+impairment loss of an asset other than goodwill is reversed only if there has been a change in the estimates used to determine the recoverable
+amount of that asset, but not to an amount higher than the carrying amount that would have been determined (net of any depreciation/
+amortisation) had no impairment loss been recognised for the asset in prior years. A reversal of such an impairment loss is credited to the
+statement of profit or loss in the period in which it arises, unless the asset is carried at a revalued amount, in which case the reversal of the
+impairment loss is accounted for in accordance with the relevant accounting policy for that revalued asset.
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+2.4 Summary of significant accounting policies (continued)
+Related parties
+A party is considered to be related to the Group if:
+(a)
+the party is a person or a close member of that person's family and that person,
+Where an indication of impairment exists, or when annual impairment testing for an asset is required (other than inventories, completed property
+held-for-sale, financial assets, goodwill and non-current assets), the asset's recoverable amount is estimated. An asset's recoverable amount is
+the higher of the asset's or cash-generating unit's value in use and its fair value less costs of disposal, and is determined for an individual asset,
+unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets, in which case the
+recoverable amount is determined for the cash-generating unit to which the asset belongs.
+has control or joint control over the Group;
+31 December 2016
+the entity and the Group are members of the same group;
+(i)
+(i)
+the party is an entity where any of the following conditions applies:
+Impairment of non-financial assets
+is a member of the key management personnel of the Group or of a parent of the Group;
+(iii)
+has significant influence over the Group; or
+(ii)
+or
+service
+RMB'000
+Automobiles
+and related
+products
+RMB'000
+Corporate
+and others
+RMB'000
+Total
+RMB'000
+Segment revenue
+Sales to external customers
+Intersegment sales
+552,307
+1,169,037
+7,938,761
+38,933,859
+489,354
+77,611,985
+9,684,716
+Others including other gross income from
+and disposal of scrap materials
+316,376
+262,754
+Taxes and surcharges
+25,510
+and assembly
+72,115
+32,928,119
+1,256,601
+sales of properties and raw materials
+77
+RMB'000
+2,062,095
+10,038
+664
+4,014,507
+7,027,569
+Investments in joint ventures
+Investments in associates
+Capital expenditure
+11,020
+282,087
+2,749,552
+1,740,139
+1,751,159
+211,512
+Mobile handset
+components
+493,599
+7,858,327
+12,384,399
+78
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+4. Operating segment information (continued)
+Rechargeable
+batteries and
+Year ended 31 December 2015
+photovoltaic
+business
+1,776,520
+1,141,475
+Corporate and other unallocated assets
+14,030,654
+(1,267,326)
+77,611,985
+987,745
+1,276,502
+3,691,052
+529
+5,955,828
+(1,880,012)
+53,421
+1,931,812
+(749,060)
+(1,517,003)
+3,794,986
+16,768,931
+25,953,481
+67,188,915
+109,911,327
+(1,203,526)
+(457,475)
+7,235,429
+115,485,755
+950,967
+(1,141,475)
+1,267,326
+(9,684,716)
+intersegment sales
+34,519,589
+41,144,557
+10,702
+89,705,502
+Reconciliation:
+Elimination of intersegment sales
+Elimination of other gross income
+Elimination of taxes and surcharges
+Revenue sales to external customers
+Segment results
+Reconciliation:
+Elimination of intersegment results
+Interest income
+Dividend income and unallocated gains
+Corporate and other unallocated expenses
+Finance costs
+Profit before tax
+Segment assets
+Reconciliation:
+Elimination of intersegment receivables
+Elimination unrealised profit of
+Total assets
+Depreciation and amortisation
+5,750,007
+235,743
+Notes to Financial Statements
+31 December 2016
+3. Significant accounting judgements and estimates (continued)
+Estimation uncertainty
+The key assumptions concerning the future and other key sources of estimation uncertainty at the end of the reporting period, that have a
+significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described
+below.
+Impairment of goodwill
+The Group determines whether goodwill is impaired at least on an annual basis. This requires an estimation of the value in use of the
+cash-generating units to which the goodwill is allocated. Estimating the value in use requires the Group to make an estimate of the expected
+future cash flows from the cash-generating unit and also to choose a suitable discount rate in order to calculate the present value of those cash
+flows. The carrying amount of goodwill at 31 December 2016 was RMB65,914,000 (2015: RMB65,914,000). Further details are given in note
+16 to the financial statements.
+Impairment of non-financial assets (other than goodwill)
+The Group assesses whether there are any indicators of impairment for all non-financial assets at the end of each reporting period. Indefinite
+life intangible assets are tested for impairment annually and at other times when such an indicator exists. Other non-financial assets are tested
+for impairment when there are indicators that the carrying amounts may not be recoverable. Impairment exists when the carrying value of
+an asset or a cash-generating unit exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use.
+The calculation of the fair value less costs to sell is based on available data from binding sales transactions in an arm's length transaction of
+similar assets or observable market prices less incremental costs for disposing of the asset. When value in use calculations are undertaken,
+management must estimate the expected future cash flows from the asset or cash-generating unit and choose a suitable discount rate in order
+to calculate the present value of those cash flows.
+Depreciation and amortisation
+The Group calculates the depreciation of items of property, plant and equipment and amortisation of intangible assets on the straight-line basis
+over their estimated useful lives or on the unit of production basis and after taking into account their estimated residual value, estimated useful
+lives or estimated total production quantities, commencing from the date the items of property, plant and equipment and intangible assets are
+placed into use. The estimated useful lives or the total production quantities reflect the directors' estimate of the period that the Group intends to
+derive future economic benefits from the use of the Group's items of property, plant and equipment or intangible assets.
+Deferred tax assets
+Deferred tax assets are recognised for unused tax losses to the extent that it is probable that taxable profit will be available against which the
+losses can be utilised. Significant management judgement is required to determine the amount of deferred tax assets that can be recognised,
+based upon the likely timing and level of future taxable profits together with future tax planning strategies. The carrying value of deferred tax
+assets relating to recognised tax losses at 31 December 2016 was RMB49,347,000 (2015: RMB96,426,000). The amount of unrecognised tax
+losses at 31 December 2016 was RMB1,264,499,000 (2015: RMB1,081,826,000). Further details are contained in note 31 to the financial
+statements.
+Development costs
+Development costs are capitalised in accordance with the accounting policy for research and development costs in note 2.4 to the financial
+statements. Determining the amounts to be capitalised requires management to make assumptions regarding the expected future cash
+generation of the assets, discount rates to be applied and the expected period of benefits. At 31 December 2016, the best estimate of the
+carrying amount of capitalised development costs was RMB6,561,350,000 (2015: RMB6,928,494,000). Further details are contained in note 17
+to the financial statements.
+Warranty provisions
+Provisions for product warranties granted by the Group are recognised based on sales volume and past experience of the level of repairs and
+returns, discounted to their present values as appropriate. Management reviews and adjusts the provision to recognise the best estimate at the
+end of the each reporting period.
+BYD Company Limited Annual Report 2016 75
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+74
+73
+The Group's determination as to whether to accrue for withholding taxes arising from the distributions of dividends from certain subsidiaries
+levied in the relevant tax jurisdiction is subject to judgement on the timing of the payment of the dividends. The Group considers that if the
+earnings will not be probable to be distributed in the foreseeable future, then no deferred tax liabilities on such withholding tax should be
+provided. Further details are included in note 31 to the financial statements.
+Foreign currencies
+These financial statements are presented in RMB, which is the Company's functional and presentation currency. Each entity in the Group
+determines its own functional currency and items included in the financial statements of each entity are measured using that functional
+currency. Foreign currency transactions recorded by the entities in the Group are initially recorded using their respective functional currency
+rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the functional
+currency rates of exchange ruling at the end of the reporting period. Differences arising on settlement or translation of monetary items are
+recognised in the statement of profit or loss.
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+2.4 Summary of significant accounting policies (continued)
+Foreign currencies (continued)
+Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of
+the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date
+when the fair value was measured. The gain or loss arising on translation of a non-monetary item measured at fair value is treated in line with
+the recognition of the gain or loss on change in fair value of the item (i.e., translation difference on the item whose fair value gain or loss is
+recognised in other comprehensive income or profit or loss is also recognised in other comprehensive income or profit or loss, respectively).
+The functional currencies of certain overseas subsidiaries are currencies other than the RMB. As at the end of the reporting period, the assets
+and liabilities of these entities are translated into RMB at the exchange rates prevailing at the end of the reporting period and their statements of
+profit or loss are translated into RMB at the weighted average exchange rates for the year.
+31 December 2016
+The resulting exchange differences are recognised in other comprehensive income and accumulated in the exchange fluctuation reserve. On
+disposal of a foreign operation, the component of other comprehensive income relating to that particular foreign operation is recognised in the
+statement of profit or loss.
+The Group treats specific inter-company loan balances, which are not intended to be repaid in the foreseeable future, as part of its net
+investment. When a foreign operation is sold, such exchange differences are recognised in the statement of profit or loss as part of the gain or
+loss on sale.
+3. Significant accounting judgements and estimates
+The preparation of the Group's financial statements requires management to make judgements, estimates and assumptions that affect the
+reported amounts of revenues, expenses, assets and liabilities, and their accompanying disclosures, and the disclosure of contingent liabilities.
+Uncertainty about these assumptions and estimates could result in outcomes that could require a material adjustment to the carrying amounts of
+the assets or liabilities affected in the future.
+Judgements
+In the process of applying the Group's accounting policies, management has made the following judgements, apart from those involving
+estimations, which have the most significant effect on the amounts recognised in the financial statements:
+Lease classification
+The Group has entered into contractual operating contracts on certain land and buildings. As a lessee, the Group has determined, based on
+evaluation of terms and conditions of the agreements, as all the rewards and risks of ownership of these assets have not been transferred to the
+Group, they are accounted for as operating leases.
+In 2013, the Group has entered into a sale and leaseback agreement as a lessee with a third party lease company regarding certain machinery
+and equipment (the "Assets"). The fair value of the Assets was determined using the replacement cost approach. The Group compares the
+fair value of the Assets with the present value of minimum lease payments and considers whether it is reasonably certain that the option to
+purchase the Assets will be exercised at the inception of the lease, as well as other terms and conditions of the sale and leaseback agreement,
+to determine the classification of the lease.
+Deferred tax on withholding tax arising from the distributions of dividends
+Any goodwill arising on the acquisition of a foreign operation and any fair value adjustments to the carrying amounts of assets and liabilities
+arising on acquisition are treated as assets and liabilities of the foreign operation and translated at the closing rate.
+Final dividends are recognised as a liability when they are approved by the shareholders in a general meeting.
+3. Significant accounting judgements and estimates (continued)
+Allowance for doubtful receivables
+RMB'000
+service
+RMB'000
+and related
+products
+RMB'000
+Corporate
+and others
+RMB'000
+Total
+RMB'000
+Segment revenue
+Sales to external customers
+7,103,045
+Intersegment sales
+10,764,415
+38,082,566
+983,803
+55,022,092
+806,285
+100,207,703
+12,554,503
+Others including other gross income from
+sales of properties and raw materials
+and disposal of scrap materials
+179,472
+842,514
+and assembly
+photovoltaic
+business
+Year ended 31 December 2016
+Automobiles
+Management makes provision for doubtful accounts by determining whether there is any objective evidence affecting collectability, like the
+insolvency of the debtor or the possibility of serious financial difficulties. Management re-estimates the allowance for doubtful receivables at the
+end of each reporting period.
+Write-down of inventories based on the lower of cost and net realisable value
+The Group, pursuant to the accounting policy for inventories, writes down inventories from cost to net realisable value and makes reserves for
+slow-moving items and obsolescence by using the lower of cost and net realisable value rule. The Group re-estimates the allowance to reduce
+the valuation of inventories to net realisable value item by item at the end of each reporting period.
+4. Operating segment information
+For management purposes, the Group is organised into business units based on their products and services and has three reportable operating
+segments as follows:
+(a)
+the rechargeable battery and photovoltaic business segment comprises the manufacture and sale of lithium-ion batteries and nickel
+batteries, photovoltaic products and iron batteries products (including energy storage stations and iron battery pack), principally for mobile
+phones, electric tools and other portable electronic instruments, photovoltaic products, energy storage products and electric vehicles;
+the mobile handset components and assembly service segment comprises the manufacture and sale of mobile handset components such
+as housings, keypads and the provision of assembly services; and
+(c) the automobiles and related products segment comprises the manufacture and sale of automobiles and auto-related moulds and
+components and automobiles leasing and after sales service.
+Estimation uncertainty (continued)
+Management monitors the results of the Group's operating segments separately for the purpose of making decisions about resources allocation
+and performance assessment. Segment performance is evaluated based on reportable segment profit, which is a measure of adjusted profit
+before tax. The adjusted profit before tax is measured consistently with the Group's profit before tax except that finance costs, interest income,
+government grants and subsidies, as well as head office and corporate expenses and gains are excluded from such measurement.
+Segment liabilities exclude deferred tax liability, tax payable, interest-bearing bank and other borrowings and other unallocated head office and
+corporate liabilities as these liabilities are managed on a group basis.
+Transfer pricing in operating segment is determined with reference to the agreed price among operation segments.
+76
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+4. Operating segment information (continued)
+Rechargeable
+batteries and
+Mobile handset
+components
+Segment assets exclude deferred tax assets, goodwill, available-for-sale investments and other unallocated head office and corporate assets, as
+these assets are managed on a group basis.
+Dividends
+Where funds have been borrowed generally, and used for the purpose of obtaining qualifying assets, a capitalisation rate ranging between
+4.12% and 5.57% has been applied to the expenditure on the individual assets.
+Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, i.e., assets that necessarily take a
+substantial period of time to get ready for their intended use or sale, are capitalised as part of the cost of those assets. The capitalisation of
+such borrowing costs ceases when the assets are substantially ready for their intended use or sale. Investment income earned on the temporary
+investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs capitalised. All other
+borrowing costs are expensed in the period in which they are incurred. Borrowing costs consist of interest and other costs that an entity incurs in
+connection with the borrowing of funds.
+69
+70
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+2.4 Summary of significant accounting policies (continued)
+Short-term deposits
+Term deposits with an initial term of over three months but less than one year were classified as short-term deposits on the consolidated
+statement of financial position.
+Provisions
+A provision is recognised when a present obligation (legal or constructive) has arisen as a result of a past event and it is probable that a future
+outflow of resources will be required to settle the obligation, provided that a reliable estimate can be made of the amount of the obligation.
+When the effect of discounting is material, the amount recognised for a provision is the present value at the end of the reporting period of
+the future expenditures expected to be required to settle the obligation. The increase in the discounted present value amount arising from the
+passage of time is included in finance costs in the statement of profit or loss.
+Provisions for product warranties granted by the Group on certain products are recognised based on sales volume and past experience of the
+level of repairs and returns, discounted to their present values as appropriate.
+Income tax
+Income tax comprises current and deferred tax. Income tax relating to items recognised outside profit or loss is recognised outside profit or loss,
+either in other comprehensive income or directly in equity.
+Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based on tax
+rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period, taking into consideration interpretations
+and practices prevailing in the countries in which the Group operates.
+Deferred tax is provided, using the liability method, on all temporary differences at the end of the reporting period between the tax bases of
+assets and liabilities and their carrying amounts for financial reporting purposes.
+Deferred tax liabilities are recognised for all taxable temporary differences, except:
+when the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business
+combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and
+in respect of taxable temporary differences associated with investments in subsidiaries, joint ventures and associates, when the timing
+of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the
+foreseeable future.
+For the purpose of the consolidated statement of financial position, cash and cash equivalents comprise cash on hand and at banks, including
+term deposits and assets similar in nature to cash, which are not restricted as to use.
+For the purpose of the consolidated statement of cash flows, cash and cash equivalents comprise cash on hand and demand deposits, and short
+term highly liquid investments that are readily convertible into known amounts of cash, are subject to an insignificant risk of changes in value,
+and have a short maturity of generally within three months when acquired, less bank overdrafts which are repayable on demand and form an
+integral part of the Group's cash management.
+Cash and cash equivalents
+Inventories are stated at the lower of cost and net realisable value. Cost is determined on the weighted average basis and, in the case of work in
+progress and finished goods, comprises direct materials, direct labour and an appropriate proportion of overheads. Cost of moulds is determined
+at the actual cost incurred in the production process. Net realisable value is based on estimated selling prices less any estimated costs to be
+incurred to completion and disposal.
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+2.4 Summary of significant accounting policies (continued)
+Derecognition of financial liabilities
+31 December 2016
+A financial liability is derecognised when the obligation under the liability is discharged or cancelled, or expires.
+When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability
+are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and a recognition of a new
+liability, and the difference between the respective carrying amounts is recognised in the statement of profit or loss.
+Offsetting of financial instruments
+Financial assets and financial liabilities are offset and the net amount is reported in the statement of financial position if there is a currently
+enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, or to realise the assets and settle the
+liabilities simultaneously.
+Deferred tax assets are recognised for all deductible temporary differences, the carryforward of unused tax credits and any unused tax losses.
+Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary
+differences, and the carryforward of unused tax credits and unused tax losses can be utilised, except:
+Derivative financial instruments
+The Group uses derivative financial instruments, such as forward currency contracts, to hedge its foreign currency risk. Those derivative financial
+instruments are initially recognised at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at
+fair value. Derivatives are carried as assets when the fair value is positive and as liabilities when the fair value is negative.
+Any gains or losses arising from changes in fair value of derivatives are taken directly to the statement of profit or loss, except for the effective
+portion of cash flow hedges, which is recognised in other comprehensive income and later reclassified to profit or loss when the hedged item
+affects profit or loss.
+Properties under development
+Properties under development are intended to be held for sale after completion.
+Properties under development are stated at the lower of cost and net realisable value and comprise land costs, construction costs, borrowing
+costs, professional fees and other costs directly attributable to such properties incurred during the development period.
+Properties under development are classified as current assets unless the construction period of the relevant property development project is
+expected to complete beyond the normal operating cycle. On completion, the properties are transferred to completed properties held for sale.
+Completed properties held for sale
+Completed properties held for sale are stated at the lower of cost and net realisable value. Cost is determined by an apportionment of the total
+land and buildings costs attributable to unsold properties. Net realisable value is estimated by the directors based on the prevailing market
+prices, on an individual property basis.
+Inventories
+Initial recognition and subsequent measurement
+.
+when the deferred tax asset relating to the deductible temporary differences arises from the initial recognition of an asset or liability in a
+transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or
+loss; and
+in respect of deductible temporary differences associated with investments in subsidiaries, joint ventures and associate, deferred tax
+assets are only recognised to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable
+profit will be available against which the temporary differences can be utilised.
+Provision is made for foreseeable losses as soon as they are anticipated by management. Where contract costs incurred to date plus recognised
+profits less recognised losses exceed progress billings, the surplus is treated as an amount due from contract customers. Where progress billings
+exceed contract costs incurred to date plus recognised profits less recognised losses, the surplus is treated as an amount due to contract customers.
+71
+72
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+2.4 Summary of significant accounting policies (continued)
+Employee benefits
+Employees' leave entitlements
+Revenue from the rendering of services is recognised based on the percentage of completion of the transaction, provided that the revenue, the
+costs incurred and the estimated costs to completion can be measured reliably. The percentage of completion is established by reference to the
+costs incurred to date as compared to the total costs to be incurred under the transaction. Where the outcome of a contract cannot be measured
+reliably, revenue is recognised only to the extent that the expenses incurred are eligible to be recovered.
+Employees' entitlements to annual leave and long service leave are recognised when they accrue to employees. A provision is made for the
+estimated liability for annual leave and long service leave as a result of services rendered by employees up to the end of the reporting period.
+Medical benefits
+The Group's contributions to various defined contribution medical benefit plans organised by the relevant municipal and provincial governments
+in the PRC are expensed as incurred.
+Pension schemes - Mainland China
+The employees of the Group's subsidiaries, which operate in Mainland China, are required to participate in a central pension scheme operated
+by the local municipal government. These subsidiaries are required to contribute a certain percentage of their payroll costs to the central pension
+scheme. The contributions are charged to the statement of profit or loss as they become payable in accordance with the rules of the central
+pension scheme.
+Pension schemes - non-Mainland China
+The Group contributes on a monthly basis to various defined contribution plans organised by the relevant governmental authorities in various
+areas other than Mainland China. The Group's liability in respect of these plans is limited to the contributions payable at the end of each period.
+Contributions to these plans are expensed as incurred.
+Housing fund - Mainland China
+The Group contributes on a monthly basis to a defined contribution housing fund plan operated by the local municipal government. Contributions
+to this plan by the Group are expensed as incurred.
+Borrowing costs
+Employees' entitlements to sick leave and maternity leave are not recognised until the time of leave.
+Taxes and surcharges
+Contract revenue on the rendering of services comprises the agreed contract amount. Costs of rendering services comprise labour and other
+costs of personnel directly engaged in providing the services and attributable overheads.
+(f) subcontracting income and assembly service income, when the relevant services have been rendered.
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+2.4 Summary of significant accounting policies (continued)
+Income tax (continued)
+The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable
+that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are
+reassessed at the end of each reporting period and are recognised to the extent that it has become probable that sufficient taxable profit will be
+available to allow all or part of the deferred tax asset to be recovered.
+Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realised or the liability
+is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
+Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax
+liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.
+Government grants
+Contracts for services
+Government grants are recognised at their fair value where there is reasonable assurance that the grant will be received and all attaching
+conditions will be complied with. When the grant relates to an expense item, it is recognised as income on a systematic basis over the periods
+that the costs, which it is intended to compensate, are expensed.
+Revenue recognition
+Revenue is recognised when it is probable that the economic benefits will flow to the Group and when the revenue can be measured reliably, on
+the following bases:
+(a)
+from the sale of goods, when the significant risks and rewards of ownership have been transferred to the buyer, provided that the Group
+maintains neither managerial involvement to the degree usually associated with ownership, nor effective control over the goods sold;
+from the rendering of services, on the percentage of completion basis, as further explained in the accounting policy for "Contracts for
+services" below;
+(c)
+rental income, on a time proportion basis over the lease terms;
+(d) interest income, on an accrual basis using the effective interest method by applying the rate that exactly discounts the estimated future
+cash receipts over the expected life of the financial instrument or a shorter period, when appropriate, to the net carrying amount of the
+financial asset;
+dividend income, when the shareholders' right to receive payment has been established and;
+Where the grant relates to an asset, the fair value is credited to a deferred income account and is released to the statement of profit or loss over
+the expected useful life of the relevant asset by equal annual instalments or deducted from the carrying amount of the asset and released to the
+statement of profit or loss by way of a reduced depreciation charge.
+565,731
+61,374
+707,719
+1,280,537
+(1,326,293)
+138,051,999
+Total
+RMB'000
+Corporate
+and others
+RMB'000
+92,021,966
+25,981,418
+20,048,615
+and related
+products
+RMB'000
+service
+RMB'000
+Automobiles
+Mobile handset
+components
+and assembly
+Other segment information
+Total liabilities
+Corporate and other unallocated liabilities
+Elimination of intersegment payables
+Reconciliation:
+Segment liabilities
+Total assets
+Corporate and other unallocated assets
+(1,445,102)
+intersegment sales
+9,790,174
+6,841,527
+155,879
+174,109
+statement of profit or loss
+Impairment losses recognised in the
+(19,704)
+(12,096)
+619,528
+619,548
+(20)
+(7,608)
+Associates
+Joint ventures
+Share of (profits)/losses of:
+169,010
+89,661,415
+43,792,299
+(1,326,293)
+47,195,409
+27,828,626
+12,525,256
+145,070,778
+Elimination unrealised profit of
+9,109,473
+Reconciliation:
+Corporate and other unallocated expenses
+Dividend income and unallocated gains
+Interest income
+Elimination of intersegment results
+Reconciliation:
+Segment results
+20,873
+796
+1,750,578
+1,511,717
+18,108,306
+40,077,893
+57,816,633
+21,669
+116,024,501
+Reconciliation:
+Elimination of intersegment sales
+Elimination of other gross income
+Revenue sales to external customers
+Elimination of intersegment receivables
+Finance costs
+Profit before tax
+Elimination of taxes and surcharges
+(1,750,578)
+Rechargeable
+batteries and
+photovoltaic
+business
+RMB'000
+(12,554,503)
+Segment assets
+Year ended 31 December 2016
+4. Operating segment information (continued)
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+(1,799,609)
+(631,240)
+6,568,410
+152,701
+(363,009)
+1,315
+6,074,412
+1,745,929
+1,287,817
+100,207,703
+(1,511,717)
+100,094
+79,456,514
+RMB'000
+Total
+RMB'000
+41,451,769
+(1,203,526)
+39,208,271
+Share of (profits)/losses of:
+Depreciation and amortisation
+245,802
+Associates
+51
+(3,054)
+| |
+Impairment losses recognised in the
+statement of profit or loss
+Corporate
+and others
+Investments in joint ventures
+Joint ventures
+22,839,680
+Elimination of intersegment payables
+5,904,615
+1,333
+Investments in associates
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+4. Operating segment information (continued)
+Rechargeable
+batteries and
+photovoltaic
+Year ended 31 December 2015
+business
+RMB'000
+Segment liabilities
+Reconciliation:
+Corporate and other unallocated liabilities
+Total liabilities
+Other segment information
+Mobile handset
+components
+and assembly
+service
+RMB'000
+Automobiles
+and related
+products
+RMB'000
+12,707,474
+Capital expenditure
+Geographical information
+694,581
+1,363,431
+3,557,967
+3,391,475
+100,207,703
+77,611,985
+2016
+RMB'000
+60,947,437
+157,886
+618,570
+56,219,731
+152,481
+310,941
+61,723,893
+1,429,896
+56,683,153
+79
+80
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+4. Operating segment information (continued)
+Information about a major customer
+Revenue of approximately RMB15,329,793,000 (2015: RMB9,266,135,000) was derived from sales made by the rechargeable batteries and
+photovoltaic products segment and the mobile handset components and assembly service segment to a single customer and a group of entities
+which are under common control with that customer.
+5. Revenue, other income and gains
+Revenue represents the net invoiced value of goods sold, after allowances for returns and trade discounts and the value of assembly services
+rendered.
+An analysis of revenue, other income and gains is as follows:
+The non-current asset information above is based on the locations of the assets and excludes goodwill, financial instruments and deferred
+tax assets.
+2,888,867
+2,717,577
+69,968,212
+66,328
+1,451,779
+231,601
+3,270,257
+5,500
+1,516,517
+245,802
+(3,003)
+551,648
+5,416,617
+1,522,017
+274,480
+2,084,818
+3,136,717
+92,218
+6,119,184
+366,698
+11,340,719
+(a)
+Revenue from external customers
+PRC
+United States of America
+Europe
+Others
+The revenue information above is based on the locations of the customers.
+(b) Non-current assets
+PRC
+India
+Others
+2016
+RMB'000
+2015
+RMB'000
+92,502,263
+253,719
+2015
+RMB'000
+26
+Sale of goods
+Fees
+RMB'000
+Salaries,
+allowances and
+benefits in kind
+RMB'000
+Pension scheme
+contributions
+RMB'000
+Total
+remuneration
+RMB'000
+Mr. Wang Chuan-fu
+Non-executive directors:
+Mr. Lv Xiang-yang
+Mr. Xia Zuo-quan
+31 December 2016
+150
+150
+Ms. Yan Chen
+Ms. Wang Zhen
+Mr. Dong Jun-qing
+Mr. Li Yong-zhao
+Mr. Huang Jiang-feng
+10. Five highest paid employees
+4,090
+24
+4,114
+Supervisors:
+Executive director:
+2015
+(b) Executive director, non-executive directors and the supervisors (continued)
+4,106
+150
+150
+1,833
+26
+1,859
+1,833
+26
+1,859
+50
+50
+50
+5550
+7,898
+76
+There was no arrangement under which a director waived or agreed to waive any remuneration during the year (2015: Nil).
+8,274
+BYD Company Limited Annual Report 2016
+85
+Notes to Financial Statements
+9. Directors' and supervisors' remuneration (continued)
+150
+24
+150
+As at 31 December 2016, the Group was still in the process of obtaining the property ownership certificates for certain buildings with a net
+carrying amount of RMB5,008,819,000 (2015: RMB3,952,360,000). In the opinion of the directors, there is no major barrier for the Group to
+obtain the property ownership certificates.
+1,304
+26
+1,330
+50
+50
+50
+50
+50
+50
+Revenue
+300
+76
+7,227
+The five highest paid employees during the year included five non-directors (2015: one director and four non-directors). Details of the
+remuneration for the year of five (2015: four) non-director and highest paid employees are as follows:
+Salaries, allowances and benefits in kind
+Pension scheme contributions
+2016
+RMB'000
+2015
+RMB'000
+28,670
+146
+16,492
+119
+28,816
+6,851
+(843)
+11,485
+1,834
+42,048,635
+2,827,895 4,565,424
+574,727
+6,816 21,188,698
+12,885,075
+Net carrying amount
+823,025 6,487,784 4,565,424 65,397,657
+(248,298) (3,659,889)
+(23,349,022)
+17,824 38,393,523
+(11,008) (17,204,825)
+(2,225,002)
+Accumulated depreciation and impairment
+15,110,077
+Cost
+At 31 December 2016:
+2,827,895 4,565,424 42,048,635
+574,727
+21,188,698
+6,816
+12,885,075
+depreciation and impairment
+At 31 December 2016, net of accumulated
+31,131
+1,307
+16,611
+4,082
+| | | |
+1,923,874
+1,765,092
+(124,265)
+(248,089)
+1,799,609
+1,517,003
+The average capitalisation rate for the year used to determine the amount of borrowing costs eligible for capitalisation was 4.88% (2015:
+5.49%).
+9. Directors' and supervisors' remuneration
+Directors' and supervisors' remuneration for the year, disclosed pursuant to the Listing Rules, section 383(1)(a), (b), (c) and (f) of the Hong Kong
+Companies Ordinance and Part 2 of the Companies (Disclosure of Information about Benefits of Directors) Regulation, is as follows:
+47,243
+Fees
+RMB4,000,001 to RMB4,500,000
+Pension scheme contributions
+2016
+RMB'000
+2015
+RMB'000
+750
+750
+7,898
+6,851
+76
+Other emoluments:
+1,717,849
+1,820,453
+103,421
+2015
+RMB'000
+(a)
+(b)
+(c)
+(d)
+(e)
+(f)
+In 2008, BYD Auto Industry Co., Ltd. ("BYD Auto Industry"), a subsidiary of the Company, received government grants with an aggregate amount of RMB864,647,000
+which were provided by the local government to support automotive research and development activities. The government grants did not specify any repayment terms
+or other conditions that are required to be met. The amount had been recognized as deferred income when received from government, and would be recognized as
+government grant income year by year according to the depreciation of relevant assets. The amount recognised in the statement of profit or loss for the year ended 31
+December 2016 is RMB13,045,000 (2015: RMB20,417,000).
+In 2010 and 2012, Changsha BYD Automobile Co., Ltd. ("Changsha Auto"), a subsidiary of the Company, received government grants with an aggregate amount
+of RMB874,184,000 which were provided by the Changsha Yuhua District Development Zone Committee (H¾&¥¥¥¸ª) to support
+the industry development for the Changsha Automobile Zone. The amount recognised in the statement of profit or loss for the year ended 31 December 2016 is
+RMB79,780,000 (2015: RMB83,850,000).
+In 2014 and 2015, the BYD Lithium Batteries Co., Ltd., a subsidiary of the Company, received government grants with an aggregate amount of RMB205,000,000
+from National Development and Reform Commission () and Ministry of Industry and Information Technology of PRC (I) for research and development
+for battery of electronic vehicle (). The amount recognised in the statement of profit or loss for the year ended 31 December 2016 is
+RMB22,887,000 (2015: RMB2,275,000).
+Changsha Automobile, a subsidiary of the Company, received government grants from the Changsha Yuhua District Development Zone Committee (A
+H¾&¥¥¥Q®) to support automotive research and development activities. For the year ended 31 December 2016, RMB213,950,000 was recognised as
+government grant income (2015: RMB80,000,000).
+In 2016, Shanwei Automobile, a subsidiary of the Company, received government grants with an amount of RMB50,376,000 from local government to accelerate
+research and development activities in that area. Since related expenditure has been incurred, RMB50,376,000 has been fully recognised as government grant
+income this year.
+In 2016, the BYD group received government grants with an aggregate amount of RMB32,065,000 as subsidies on employee benefit expense. Since related
+expenditure has been incurred, RMB32,065,000 has been fully recognised as government grant income this year.
+8. Finance costs
+An analysis of finance costs is as follows:
+Interest on bank and other loans
+Bank charges for discounted notes
+Less: Interest capitalised
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+2016
+RMB'000
+76
+300
+7,974
+8,724
+Executive director:
+Mr. Wang Chuan-fu
+Non-executive directors:
+Mr. Lv Xiang-yang
+Mr. Xia Zuo-quan
+Supervisors:
+Ms. Yan Chen
+Ms. Wang Zhen
+Mr. Dong Jun-qing
+2016
+Mr. Li Yong-zhao
+450
+450
+Fees
+RMB'000
+Salaries,
+allowances and
+benefits in kind
+RMB'000
+Pension scheme
+contributions
+RMB'000
+Total
+remuneration
+RMB'000
+150
+150
+Mr. Huang Jiang-feng
+(b) Executive director, non-executive directors and the supervisors
+There was no other emolument payable to the independent non-executive directors during the year (2015: Nil).
+150
+7,677
+83
+84
+BYD Company Limited Annual Report 2016
+Notes to Financial Statements
+31 December 2016
+9. Directors' and supervisors' remuneration (continued)
+(a) Independent non-executive directors
+The fees paid to independent non-executive directors during the year were as follows:
+Mr. Zhang Ran
+Mr. Wang Zi-dong
+Mr. Zou Fei
+2016
+2015
+RMB'000
+RMB'000
+150
+150
+150
+150
+150
+6,927
+The number of non-director and highest paid employees whose remuneration fell within the following bands is as follows:
+Number of employees
+2016
+2015
+Tax losses and deductible temporary differences not recognised
+0.7
+28,241
+1.1
+74,897
+Expenses not deductible for tax
+1.2
+44,729
+1.4
+316,193
+93,320
+(9.0)
+(343,138)
+(11.0)
+(726,057)
+Lower tax rate for specific provinces or enacted by local authority
+25.0
+948,329
+25.0
+1,642,101
+Losses attributable to joint ventures and associates
+4.8
+272,026
+7.2
+The calculation of the basic earnings per share amount is based on the profit for the year attributable to ordinary equity holders of the parent
+adjusted for interest paid or payable for perpetual loans, and the weighted average number of ordinary shares of 2,581,060,000 (2015:
+2,476,000,000) in issue during this year.
+The interests paid on perpetual loans in 2016 is RMB185,155,000. The group's perpetual loan is disclosed in note 34 to the financial statement.
+13. Earnings per share attributable to ordinary equity holders of the parent
+12. Perpetual loan interest paid
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+17.3
+656,790
+16.6
+1,088,398
+Tax charge at the Group's effective rate
+(4.1)
+(157,297)
+(3.8)
+(252,820)
+Super-deduction of research and development costs
+(3.6)
+(136,100)
+(0.9)
+(59,236)
+Tax losses utilised from previous periods
+Tax at the statutory tax rate
+No adjustment has been made to the basic earnings per share amounts presented for the years ended 31 December 2016 and 2015 in respect
+of a dilution as the Group had no potentially dilutive ordinary shares in issue during those years.
+3,794,986
+%
+Current Hong Kong
+Charge for the year
+Certain subsidiaries operating in Mainland China are entitled to enjoy a reduced enterprise income tax rate of 15% of the estimated assessable
+profits for the year pursuant to the Western Development Policy. These subsidiaries need to file the relevant document to the in-charge tax
+bureau for record every year so as to be entitled to the reduced rate of 15%.
+Certain subsidiaries operating in Mainland China are approved to be high and new technology enterprises ("HNTE”) and are entitled to enjoy a
+reduced enterprise income tax rate of 15% of the estimated assessable profits for the year. The HNTE certificates need to be renewed every
+three years so as to enable those subsidiaries to enjoy the reduced tax rate of 15%.
+Under the relevant income tax law, the PRC subsidiaries are subject to corporate income tax ("CIT") at a statutory rate of 25% on their respective
+taxable income during the year.
+Hong Kong profits tax has been provided at the rate of 16.5% (2015: 16.5%) on the estimated assessable profits arising in Hong Kong during
+the year. Taxes on profits assessable elsewhere have been calculated at the rates of tax prevailing in the countries in which the Group operates.
+11. Income tax
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+Current Mainland China
+86
+5
+1
+RMB8,000,001 to RMB8,500,000
+RMB6,500,001 to RMB8,000,000
+1
+RMB6,000,001 to RMB6,500,000
+RMB5,500,001 to RMB6,000,000
+RMB5,000,001 to RMB5,500,000
+RMB4,500,001 to RMB5,000,000
+4
+-
+Charge for the year
+Current - Elsewhere
+RMB'000
+%
+RMB'000
+2015
+2016
+Profit before tax
+A reconciliation of the tax expense applicable to profit before tax at the statutory rate for the jurisdiction in which the Company and the majority of
+its subsidiaries are domiciled to the tax expense at the effective tax rate, and a reconciliation of the applicable rate (i.e., the statutory tax rate) to
+the effective tax rate, are as follows:
+656,790
+1,088,398
+119,983
+(428,634)
+6,363
+536,604
+1,504,305
+203
+6,364
+2015
+RMB'000
+2016
+RMB'000
+Total tax charge for the year
+Deferred
+Charge for the year
+6,568,410
+The calculation of basic earnings per share is based on:
+Earnings
+2016
+(18,198)
+Disposals
+120,228
+Additions
+11,082,131
+depreciation and impairment
+At 1 January 2016, net of accumulated
+38,126,333
+5,757,798
+Depreciation provided during the year
+314,019 2,206,900
+11,082,131
+Net carrying amount
+58,272,894
+(20,146,561)
+(3,309,879)
+5,757,798
+5,516,779
+470,540
+(156,521)
+27,622 33,550,787
+(18,655) (14,794,269)
+(1,867,237)
+8,967 18,756,518
+(372,244)
+8,967 18,756,518
+2,768 4,456,772
+(449) (277,687)
+(4,470) (4,020,418)
+314,019 2,206,900
+329,562 857,324
+(8,214) (37,903)
+2
+1
+- |2|
+1
+1
+RMB3,000,001 to RMB3,500,000
+18,655
+Exchange realignment
+(4,968,167)
+592,551
+46,757
+2,274,356
+2,054,503
+Transfers
+(5,308,825)
+(792,811)
+(118,882)
+(364,815)
+(22,364)
+9,564,811
+5,757,798 38,126,333
+3,798,157
+Accumulated depreciation and impairment
+12,949,368
+Cost
+Total
+RMB'000
+2,476,000,000
+2,581,060,000
+2015
+Number of shares
+2016
+Weighted average number of ordinary shares in issue during the year, used in
+the basic earnings per share calculation
+Shares
+2,782,612
+4,840,032
+Profit used in the basic earnings per share calculation
+(4,158)
+(31,125)
+Accumulated unpaid interests attributable to perpetual loans for the year
+(36,671)
+(180,997)
+Interests paid for perpetual loans for the year
+2,823,441
+5,052,154
+Profit attributable to ordinary equity holders of the parent
+RMB'000
+RMB'000
+2015
+87
+Notes:
+88
+Notes to Financial Statements
+Construction
+in progress
+RMB'000
+and fixtures
+RMB'000
+RMB'000
+RMB'000
+RMB'000
+RMB'000
+vehicles
+equipment
+equipment
+Motor
+and
+Leasehold
+land and
+buildings*_improvements
+Office
+Machinery
+Freehold
+At 31 December 2015 and at 1 January 2016:
+31 December 2016
+Group
+14. Property, plant and equipment
+31 December 2016
+BYD Company Limited Annual Report 2016
+581,177
+Salaries, allowances and benefits in kind
+73,113
+390,151
+472,679
+Auditors' remuneration
+Minimum lease payments under operating leases
+2,776,352
+4,718,904
+1,998,499
+3,171,694
+Current year expenditure
+777,853
+1,547,210
+17
+Deferred expenditure amortised
+Research and development costs:
+50,143
+60,765
+17
+116,871
+169,854
+17
+4,485,620
+5,308,825
+14
+#77
+Amortisation of other intangible assets other than development costs***
+Impairment of other intangible assets*
+Depreciation
+7,000
+19,001,578
+6,395
+senior executive officers' remuneration (note 39d)):
+Impairment losses of trade receivables reversed*
+54,749
+Impairment of other receivables*
+234,658
+124,083
+23
+Impairment of trade receivables*
+126,220
+(222,280)
+36,051
+136,717
+103,001
+110,769
+15
+Foreign exchange differences, net****
+Loss on disposal of items of non-current assets
+Amortisation of land lease payments
+12,635,123
+14,765,881
+749,251
+84,213
+122,156
+948,991
+11,801,659
+13,694,734
+Pension scheme contributions
+Welfare
+Wages and salaries
+Employee benefit expense (excluding directors', supervisors' and
+21,898,869
+Cost of services provided
+46,570,585
+256,029
+280,981
+Gain on disposal of scrap and materials
+57,831
+72,899
+Gross service income
+21,717
+37,615
+Gross rental income
+222,280
+Foreign exchange gain, net
+53,421
+152,701
+Bank interest income
+77,611,985
+100,207,703
+22,758
+25,767
+58,209,904
+19,379,323
+78,107,416
+22,074,520
+RMB'000
+2015
+2016
+RMB'000
+Note
+Other income and gains
+Others
+Assembly service income
+Penalty from suppliers
+76,352
+77,890
+Gain on sales of properties (i)
+58,933,535
+Cost of inventories sold
+2015
+RMB'000
+2016
+RMB'000
+Notes
+The Group's profit before tax is arrived at after charging/(crediting):
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+6. Profit before tax
+The Group develops properties for sale to its employees. The gain on sales of properties related to revenue from the sales of properties to the employees during the
+year after deduction of property cost of RMB19,558,000 (note 21) and business tax of RMB796,000. The sales amount has been fully paid by the employees as at the
+year end.
+1,991,326
+926,216
+23
+(i)
+70,738
+50,751
+13,012
+26,068
+Derivative financial instruments
+Others
+1,992
+5,254
+1,438,165
+Available-for-sale investment
+Fair value gains, net:
+Gain on disposal of subsidiaries
+531
+1,315
+Note:
+710,939
+RMB3,500,001 to RMB4,000,000
+(86,108)
+Related to assets
+7. Government grants and subsidies
+31 December 2016
+Notes to Financial Statements
+BYD Company Limited Annual Report 2016
+82
+81
+The foreign exchange differences is included in "other income and gains" and "other Expenses" in the consolidated statement of profit or loss for the current year and
+the prior year respectively
+The amortisation of other intangible assets other than development costs for the year is included in "Administrative expenses" in the consolidated statement of profit or
+loss.
+The impairment of inventories for the year is included in "Cost of sales" in the consolidated statement of profit or loss.
+The impairment of trade receivables, impairment of other receivables, impairment losses of trade receivables reversed, impairment losses of prepayments, deposits
+and other receivables reversed, loss on disposal of a subsidiary, impairment of other intangible assets and impairment of investment in joint ventures and associates
+for the year are included in "Other expenses" in the consolidated statement of profit or loss.
+722,128
+1,113,091
+158,341
+35
+30
+Additional product warranty provision
+Loss on disposal of subsidiaries*
+180,578
+357,036
+Impairment of inventories**
+1,023
+Impairment of investment in joint ventures and associates*
+(157)
+Impairment losses of prepayments, deposits and other receivables reversed*
+(35,208)
+2016
+RMB'000
+***
+Subsidies on research and development activities for automobile and
+related products (note (a))
+2015
+RMB'000
+12,207
+33,437
+1,594
+46,650
+32,065
+288,330
+264,326
+Others
+Subsidies on tax refund
+Subsidies on interest
+Subsidies on operating expense
+Subsidies on employee benefit expense (note (f))
+176,212
+79,780
+Subsidies on research and development activities for automobiles and
+Related to income
+52,741
+89,187
+2,275
+22,887
+83,850
+related products (notes (d), (e))
+Subsidies on industry development fund for Changsha Automobile Zone (note (b))
+Subsidies on research and development for battery of electronic vehicle (note (c))
+Others
+20,417
+13,045
+55,198,289
+195,641,593
+人民幣千元
+人民幣千元
+55,004,194
+201,017,321
+(扣除非控股權益)
+Total assets
+資產總值
+295,780,147
+RMB'000
+controlling interests)
+RMB'000
+2019
+二零一八年
+二零一九年
+RMB'000
+人民幣千元
+56,762,289
+2017
+2018
+呂向陽
+夏佐全
+獨立非執行董事
+蔡洪平
+張敏
+蔣岩波
+監事
+二零一七年
+194,571,077 178,099,430
+執行董事
+Current ratio (times)
+董俊卿
+李永釗
+王珍
+92
+83
+74
+存貨週轉天數(日)
+Inventory turnover (days)
+(日)(附註)
+(days) (Note)
+192
+189
+190
+141
+Gearing ratio (%) (Note)
+100
+Receivables turnover
+0.98
+0.99
+0.99
+1.05
+0.97
+93
+104
+124
+69
+-15
+資本負債比率(%)(附註)
+流動比率(倍)
+應收款項轉天數
+楊冬生(自二零二一年三月二十五日辭任)
+唐梅(自二零二一年三月二十五日獲委任)
+黃江鋒
+公司資料
+李黔
+授權代表
+王傳福
+李黔
+法定地址
+LEGAL ADDRESS
+No. 1 Yan'an Road
+Kuichong Sub-district
+Dapeng New District
+Shenzhen
+Guangdong Province
+The PRC
+INTERNATIONAL AUDITORS
+Ernst & Young
+DOMESTIC AUDITORS
+Ernst & Young Hua Ming (LLP)
+PLACE OF BUSINESS IN HONG KONG
+Unit 1712, 17th Floor
+Tower 2 Grand Central Plaza
+No. 138 Shatin Rural Committee Road
+New Territories
+Hong Kong
+HONG KONG SHARE REGISTRAR AND TRANSFER
+OFFICE
+Computershare Hong Kong Investor Services Limited
+Shops 1712-1716
+17th Floor
+Hopewell Centre
+Li Qian
+Wang Chuan-fu
+AUTHORISED REPRESENTATIVES
+82
+審核委員會
+呂向陽
+張敏(主席)
+蔡洪平
+蔣岩波
+薪酬委員會
+王傳福
+夏佐全
+蔡洪平(主席)
+張敏
+蔣岩波
+提名委員會
+公司秘書
+王傳福
+蔣岩波(主席)
+蔡洪平
+張敏
+戰略委員會
+王傳福(主席)
+呂向陽
+夏佐全
+蔡洪平
+張敏
+Annual Report 2021
+二零二一年年報
+7
+Corporate Information
+呂向陽
+81
+Note: Gearing ratio = Total borrowings net of cash and cash
+equivalents/net assets (less minority interests)
+Receivables include trade receivables, receivables financing,
+中國
+A Shares: 002594 (Shenzhen Stock Exchange (“SZSE”))
+(“Hong Kong Stock Exchange”))
+H Shares: 01211 (The Stock Exchange of Hong Kong Limited
+STOCK CODE
+www.byd.com
+WEBSITE
+Email: byd@iprogilvy.com
+Fax: (852) 3170 6606
+Tel: (852) 2136 6185
+iPR Ogilvy Ltd.
+INVESTOR AND MEDIA RELATIONS CONSULTANT
+Hong Kong
+Wanchai
+183 Queen's Road East
+BYD Company Limited
+6
+廣東省
+深圳市
+大鵬新區
+葵湧街道
+延安路一號
+合和中心
+皇后大道東183號
+灣仔
+香港
+香港中央證券登記有限公司
+香港股份過戶登記處
+17樓1712室
+新城市中央廣場二期
+比亞迪股份有限公司
+以夢為馬
+逐光前行
+新界
+香港
+香港營業地點
+安永華明會計師事務所(特殊普通合夥)
+境內核數師
+安永會計師事務所
+國際核數師
+沙田鄉事會路138號
+Corporate Information
+公司資料
+EXECUTIVE DIRECTOR
+REMUNERATION COMMITTEE
+Wang Chuan-fu
+Xia Zuo-quan
+Cai Hong-ping (Chairman)
+Zhang Min
+Jiang Yan-bo
+NOMINATION COMMITTEE
+Wang Chuan-fu
+Jiang Yan-bo
+Jiang Yan-bo (Chairman)
+Cai Hong-ping
+Zhang Min
+STRATEGY COMMITTEE
+Wang Chuan-fu (Chairman)
+Lv Xiang-yang
+Xia Zuo-quan
+Cai Hong-ping
+Zhang Min
+Lv Xiang-yang
+17樓
+Cai Hong-ping
+Lv Xiang-yang
+Wang Chuan-fu
+NON-EXECUTIVE DIRECTORS
+Lv Xiang-yang
+Xia Zuo-quan
+INDEPENDENT NON-EXECUTIVE DIRECTORS
+Cai Hong-ping
+Zhang Min
+Jiang Yan-bo
+Zhang Min (Chairman)
+SUPERVISORS
+Li Yong-zhao
+Wang Zhen
+Yang Dong-sheng (resigned with effect from 25 March 2021)
+Tang Mei (appointed with effect from 25 March 2021)
+Huang Jiang-feng
+COMPANY SECRETARY
+Li Qian
+AUDIT COMMITTEE
+Dong Jun-qing
+王傳福
+1712-1716號鋪
+iPR奧美公關
+2020
+二零二零年
+二零二一年
+按客戶所在地劃分的營業額
+REVENUE BREAKDOWN BY LOCATIONS OF
+CUSTOMERS
+PRC (including Hong Kong, Macau and Taiwan)
+中國(包括港澳台地區)
+Overseas
+境外
+30.24%
+2021
+2021
+二零二一年
+69.76%
+38.52%
+2020
+2020
+53.40%
+40.49%
+2021
+contract assets, accounts due from associates and joint
+ventures, accounts due from related parties.
+附註: 資本負債比率=總借貸扣除現金及現金等價值
+物/淨資產值(扣除少數股東權益)
+應收類款項包含應收貿易賬款、應收款項融
+資、合同資產、應收聯營及合營公司、應收關
+聯方款項。
+Annual Report 2021
+二零二一年年報
+Financial Highlights
+財務摘要
+REVENUE BREAKDOWN BY PRODUCT CATEGORIES 按產品類別劃分的營業額
+2020
+17.29%
+Rechargeable Batteries and Photovoltaic
+二次充電電池及光伏
+Mobile handset components, assembly service and
+other products
+手機部件、組裝及其他產品
+Automobiles and related products, and other products
+汽車、汽車相關產品及其他產品
+51.90%
+2021
+7.63%
+二零二零年
+38.68%
+61.48%
+本人謹代表比亞迪股份有限公司(「比亞迪」或「本公
+司」)及其附屬公司(統稱「本集團」或「集團」)董事
+會向各位股東提呈本集團截至二零二一年十二月三
+十一日止年度(「年內」或「期內」)之年報。
+致各位股東:
+In the automobile industry, against the backdrop of recurring
+COVID-19 outbreaks, insufficient domestic demand and tight
+supply chain, China's automobile industry achieved positive
+growth against the headwind. In the year, China recorded an
+automobile sales volume of 26.275 million units, up slightly
+by 3.8% year on year, ending a three-year downtrend since
+2018.Specifically, the new energy vehicle market achieved
+explosive growth, with annual sales reaching 3.521 million units,
+up about 1.6 times year on year, and the annual penetration
+rate climbed 8 percentage points to 13.4%. The domestic new
+energy vehicle industry has ushered in a new stage in which
+growth is driven by demands instead of policies, showing a
+good development momentum featuring increased market size
+and improved quality. In respect of the smart terminal segment,
+the shipments of smartphones and laptops continued to rise on
+a global scale. The tablet market has huge potential and the
+smart home devices sector is also developing rapidly. In terms
+of rechargeable batteries, growth in sales of global consumer
+electronics has driven up demands for upstream batteries. In
+the field of photovoltaics business, energy saving and emission
+reduction has become a global consensus, building a favorable
+environment for the development of photovoltaics industry. Under
+the general background of the “Dual-Carbon”strategic target,
+the photovoltaics application has been scaled out, which also
+contributed to the development of energy storage industry.
+In_2021, the COVID-19 pandemic continuously recurred globally.
+The international environment became more complex and severe,
+but China's economic development has shown greater resilience
+and vitality. Foreign investment and trade continued to boom, the
+transition from old economic engines to new has accelerated, and
+the hightech industry has continued to progress well, representing
+a good beginning of the “14th Five-Year Plan”. However,
+affected by the recurrence of the COVID-19, the rising prices
+of commodities and other aspects, the downward pressure on
+China's macro economy had enhanced since the second quarter.
+In general, the economy of the whole year is characterized by
+“high-to-low declining trend”, “structural differentiation" and
+“intensified pressure”. In 2021, China realized a Gross Domestic
+Product (GDP) growth rate of 8.1% year on year.
+On behalf of the board (the “Board") of directors (the “Directors”)
+of BYD Company Limited (“BYD”or the “Company") and its
+subsidiaries(collectively referred to as the “Group”), I hereby
+present the annual report of the Group for the year ended 31
+December 2021 (the “Year” or the “Period") to you.
+Dear Shareholders,
+主席報告書
+Chairman's Statement
+二零二一年,全球疫情持續反覆,國際環境更趨複
+雜嚴峻,但中國經濟發展展現出強大的韌���及活
+力,外資外貿持續景氣,新舊動能轉換加速,高新
+技術產業持續向好,實現了「十四五」的良好開局。
+但受疫情反覆、大宗商品價格上漲等多方面因素影
+響,宏觀經濟下行的壓力自二季度起開始加大,全
+年經濟呈現出「前高後低」、「結構分化」和「壓力加
+劇」的運行特徵,全年國內生產總值同比增長8.1%。
+比亞迪股份有限公司
+BYD Company Limited
+A 股:002594(深圳證券交易所(「深交所」))
+(「香港聯交所」))
+H股:01211(香港聯合交易所有限公司
+股票代碼
+www.byd.com
+公司網址
+電話:(852) 2136 6185
+傳真:(852) 3170 6606
+電郵:byd@iprogilvy.com
+8
+投資者及傳媒關係顧問
+汽車行業,在疫情反覆、內需不足和供應鏈緊張的
+背景下,中國汽車工業逆勢實現了正增長。全年汽
+車銷量達2,627.5萬輛,同比小幅上升3.8%,結束
+了自2018年以來三年的下降局面。其中,新能源
+汽車市場呈現出爆發式增長,全年銷量達352.1萬
+輛,同比增長約1.6倍,全年滲透率大幅攀升八個百
+分點至13.4%。國內新能源汽車行業從政策驅動轉
+向市場拉動的新階段,呈現出市場規模和品質雙提
+升的良好發展態勢。智能終端領域,全球智能手機
+及筆記本電腦出貨量保持增長,平板電腦市場規模
+龐大,智能家居設備正快速發展。二次充電電池領
+域,全球消費類電子產品銷量的增長帶動了市場對
+上游電池需求增加。光伏領域,節能減排成為全球
+共識,為光伏行業發展營造良好環境,在「雙碳」戰
+略目標大背景下,光伏應用規模擴大,亦帶動儲能
+行業發展。
+Net assets (less non-
+3
+母公司擁有人
+3,045,188
+4,234,267
+1,614,450
+2,780,194
+4,066,478
+of the parent
+淨資產值
+應佔溢利
+淨利潤率(%)
+1.4
+2.8
+1.3
+2.3
+4.0
+As at 31 December
+非執行董事
+Net profit margin (%)
+於十二月三十一日
+6
+17
+Financial Highlights
+Corporate Information
+8
+Chairman's Statement
+14
+Management Discussion and Analysis
+39
+Directors, Supervisors and Senior Management
+53
+Corporate Governance Report
+71
+2
+Report of the Directors
+Report of the Supervisory Committee
+92
+Independent Auditor's Report
+101
+Consolidated Statement of Profit or Loss
+102
+Consolidated Statement of Comprehensive Income
+103
+Consolidated Statement of Financial Position
+財務摘要
+公司資料
+主席報告書
+90
+管理層討論與分析
+目錄
+新能源汽車和城市軌道交通業務是比亞迪未來發展的重要
+範疇,憑藉自身在相關業務領域的技術和品質優勢,集團
+將積極拓展新能源汽車及城市軌道交通產品於國內外的應
+用,推動集團的長遠及可持續發展。
+2020
+二零二零年
+RMB'000
+人民幣千元
+56,874,274
+Profit attributable to owners
+BWD 比亞迪股份有限公司
+BYD COMPANY LIMITED
+Stock Code 股份代號:1211
+以夢為馬
+逐光前行
+Annual Report 2021
+年報
+Company Profile
+公司簡介
+H
+Contents
+BYD Company Limited ("BYD" or "the Company" together with its
+subsidiaries, “the Group"; stock code: 01211.HK, 002594.SZ) is principally
+engaged in automobile business which includes new energy vehicles
+and traditional fuel-engined vehicles, handset components and assembly
+services, as well as rechargeable battery and photovoltaics business.
+Meanwhile, with its technological superiority, the Group actively develops
+urban rail transportation business segment.
+BYD is a high efficient, intelligent and integrated semiconductor provider,
+mainly engaged in the research and development, manufacturing and
+sales of power semiconductor, intelligent control IC, intelligent sensor and
+photoelectric semiconductor, which have wide market applications. BYD
+empowers Chinese auto level semiconductor industry to rapidly develop
+with independency and controllabililty.
+As a global leading total solution provider with high-end manufacturing
+abilities, the Group provides world renowned customers with innovative
+materials development, product design, research and development, parts
+and components, as well as manufacturing, supply chain management,
+logistics and after-sales and other one-stop services. Its products cover
+four major areas including smartphone and laptop, new intelligent product,
+automotive intelligent system and medical and health, but the Group does
+not have the product of its own brand. Its main customers include Huawei,
+Samsung, Apple, vivo, Xiaomi, iRobot and other intelligent mobile terminal
+leaders.
+BYD is one of the leading rechargeable battery manufacturers in the global
+arena. As to the field of consumer batteries, the Group's li-ion batteries are
+widely used in various consumer electronic products and new intelligent
+products, major clients of which include leading consumer electronics
+manufacturers such as Samsung and Dell, as well as global leading
+professional robot brands such as Ecovacs. As to the field of power
+batteries, the Group has developed highly safe power batteries to better
+meet the urgent demand of safety in the market.
+In September 2008, MidAmerican Energy Holdings Company (now
+renamed as Berkshire Hathaway Energy), a subsidiary of Berkshire
+Hathaway, reached agreement with the Company, pursuant to which,
+MidAmerican Energy Holdings Company acquired 225 million H Shares
+of the Company, (representing approximately 7.73% of the Company's
+total capital as of 31 December 2021), becoming the Group's long term
+investment strategic partner. In June 2011, the Company made an IPO of
+79 million RMB ordinary shares (A shares) which were listed on the SME
+Board of Shenzhen Stock Exchange ("the Shenzhen Stock Exchange").
+New energy vehicles and urban rail transportation businesses are
+important areas for BYD's future development. With its strong technology
+accumulations and superior quality standard in related business areas,
+the Group will actively develop the application of new energy vehicles
+and urban rail transportation products at home and abroad to facilitate the
+Group's long-term and sustainable development.
+比亞迪股份有限公司(「比亞迪」或「本公司」,連同其附屬
+公司統稱「本集團」或「集團」;股份代號:H股:01211;A
+股:002594)主要從事包含新能源汽車及傳統燃油車在內
+的汽車業務、手機部件及組裝業務,二次充電電池及光伏
+業務,同時利用自身的技術優勢積極拓展城市軌道交通業
+務領域。
+自二零零三年拓展汽車業務以來,憑藉集團產品領先的技
+術及具備國際標準的卓越質量,集團的汽車業務實現高速
+增長,迅速成長為領先的中國自主品牌汽車廠商。作為全
+球新能源汽車研發和推廣的引領者,集團於新能源汽車領
+域擁有雄厚的技術積累、領先的市場份額,並具備了在新
+能源汽車核心零部件如動力電池、功率半導體等領域的技
+術研發優勢,奠定了比亞迪於全球新能源汽車領域的行業
+領導地位。
+比亞迪是高效、智能、集成的半導體供應商,主要從事功
+率半導體、智能控制IC、智能傳感器及光電半導體的研
+發、生產及銷售,產品市場應用廣闊,助力實現中國車規
+級半導體產業的自主安全可控和全面快速發展。
+作為全球領先的平台型高端製造龍頭廠商,本集團為全球
+知名客戶提供新材料開發、產品設計與研發、零組件及整
+機製造、供應鏈管理、物流及售後等一站式服務,產品覆
+蓋智能手機及筆電、新型智能產品、汽車智能系統、醫療
+健康四大領域,但不生產自有品牌的整機產品。該業務的
+主要客戶包括華為、三星、蘋果、vivo、小米、iRobot等
+智能移動終端領導廠商。
+比亞迪為全球領先的二次充電電池製造商之一。消費類電
+池領域,本集團生產的鋰離子電池廣泛應用於各類消費類
+電子產品及新型智能產品領域,主要客戶包括三星、Dell
+等消費類電子產品領導廠商,以及科沃斯等全球領先的機
+器人專業智造品牌廠商。動力電池領域,本集團開發了高
+度安全的動力電池,更好解決市場安全痛點。
+二零零八年九月,Berkshire Hathaway旗下附屬公司
+MidAmerican Energy Holdings Company(中美能源控股
+公司,現更名為Berkshire Hathaway Energy)與本公司簽
+署協議,認購本公司2.25億股H股(佔截至二零二一年十二
+月三十一日本公司總股本約7.73%),成為集團的長期投資
+戰略夥伴。二零一一年六月,公司首次向中國社會公眾公
+開發行人民幣普通股(A股)7,900萬股並在深圳證券交易所
+(「深交所」)中小企業板上市。
+Since the expansion of automobile business in 2003, by force of sheer
+advantages in technology accumulation and product quality control,
+the Group has achieved remarkable growth in automobile business and
+has rapidly grown into a leading manufacturer in China with self-owned
+brand. As a world pioneer in the technology innovation and promotion
+of new energy vehicles, the Group has accumulated extensive skills
+and gained leading market share in the industry as well as having the
+technology research and development advantage in the fields of the core
+components of new energy vehicles such as power batteries and power
+semiconductors, which have further strengthen the leading position of BYD
+globally.
+董事、監事及高級管理層
+2021
+二零二一年
+RMB'000
+人民幣千元
+95,069,671
+董事會報告
+營業額
+211,299,918
+2020
+二零二零年
+RMB'000
+人民幣千元
+153,469,184
+2019
+2018
+2017
+二零一九年
+RMB'000
+人民幣千元
+二零一八年
+RMB'000
+人民幣千元
+二零一七年
+RMB'000
+人民幣千元
+121,778,117
+Gross profit
+121,790,925
+毛利
+23,632,561
+27,243,591
+18,075,993
+18,066,764
+17,935,074
+Gross profit margin (%)
+毛利率(%)
+11
+企業管治報告
+15
+102,650,614
+Revenue
+18
+15
+2021
+二零二一年
+RMB'000
+人民幣千元
+監事會報告
+獨立核數師報告書
+合併損益表
+合併���合收益表
+合併財務狀況表
+106
+Consolidated Statement of Changes in Equity
+108
+Consolidated Statement of Cash Flows
+112
+Notes to Financial Statements
+合併權益變動表
+Five Year Financial Summary
+合併現金流量表
+財務報表附註
+五年主要財務數據之比較
+For the year ended 31 December
+截至十二月三十一日止年度
+五年財務摘要
+2
+BYD Company Limited
+比亞迪股份有限公司
+Financial Highlights
+財務摘要
+312
+FIVE-YEAR COMPARISON OF KEY FINANCIAL FIGURES
+reviewing the forecasted future economic trend
+and corroborating the assumptions with current
+market trend;
+management's forecasts made historically,
+Evaluated the assumptions and parameters
+by retrospectively reviewing the accuracy of
+減值評估的詳情披露於合併財務報表附註2.4、3、14、18。
+Involved internal valuation experts to assist in
+evaluating the appropriateness of assumptions
+and parameters, including discount rates,
+terminal growth rates, etc.;
+How our audit addressed the key audit matter
+該事項在審核中是如何應對
+通過追溯審閱過往管理層預測的準確性及預測未來的
+經濟形勢,及現時市場表現的吻合度來評估所使用的
+假設及參數:
+通過引入內部估值專家,評估假設以及參數的恰當
+性,其中包括:折現率、可持續增長率等;
+Reviewed the sufficiency and completeness of
+How our audit addressed the key audit matter
+該事項在審核中是如何應對
+覆核合併財務報表中相關披露的充分性和完整性。
+BYD Company Limited
+96
+比亞迪股份有限公司
+Independent auditor's report
+獨立核數師報告書
+Key audit matter
+關鍵審核事項
+Provision for expected credit losses on trade
+receivables, contract assets and long-term
+receivables
+Details of the impairment assessment are disclosed in
+notes 2.4,3,14 and 18 to the consolidated financial
+statements.
+應收貿易賬款、合同資產及長期應收賬款的預期信貸虧
+損撥備
+disclosures included in the consolidated financial
+statements.
+由於評估的過程比較複雜並且涉及重大估計,或會受非預期未
+來市場狀況以及經濟狀況的影響,故非金融非流動資產減值
+評估被視為本年的關鍵審核事項。
+比亞迪股份有限公司
+Key audit matter
+關鍵審核事項
+As at 31 December 2021, trade receivables amounted
+to_RMB35,593,138,000,long-term receivables amounted
+to RMB1,168,475,000 and contract assets amounted to
+RMB8,493,382,000,which accounted for a significant
+portion of the consolidated financial statements.
+Independent auditor's report
+獨立核數師報告書
+Key audit matter
+關鍵審核事項
+Impairment assessment of non-financial non-current
+assets
+How our audit addressed the key audit matter
+該事項在審核中是如何應對
+非金融非流動資產減值評估
+The Group recorded property, plant and equipment
+of RMB75,545,128,000 and other intangible assets
+of RMB10,049,904,000,which included capitalised
+development costs of RMB9,644,705,000 as at 31
+December 2021 in the consolidated financial statements.
+The management assessed whether there were any
+indicators of impairment for all non-financial non-current
+assets at 31 December 2021. Non-current assets with
+impairment indicators and development costs were tested
+for impairment. Management calculated the recoverable
+amounts of cash-generating units (CGUs),which are the
+higher of the fair value less costs of disposal and the
+value in use in the impairment test. The calculation of the
+recoverable amounts involved significant judgements and
+assumptions, such as revenue from future sales, gross
+profit margin, operational costs, terminal growth rates,
+discount rates, etc.
+截至二零二一年十二月三十一日, 貴集團於合併財務報表中錄
+得物業、廠房及設備金額人民幣75,545,128,000元及其他無形
+資產人民幣10,049,904,000元(其中包括資本化開發成本人民
+幣9,644,705,000元)。管理層對於二零二一年十二月三十一日
+所有非金融非流動資產評估是否存在任何發生減值的跡象。存
+在減值跡象的非流動資產以及開發成本已進行減值測試。管理
+層計算減值測試中現金產生單位的可收回金額,即公允價值減
+出售成本與使用價值之較高者。可回收金額的計算涉及重大判
+斷及假設,如未來銷售收入、毛利率、運營成本、可持續增長
+率及折現率等。
+We performed the following audit procedures, among
+others, in relation to the impairment assessment of non-
+financial non-current assets:
+我們對非金融非流動資產減值評估執行(其中包括)以下審
+核程序:
+Obtained an understanding of key internal
+controls of impairment assessment and their
+design and operating effectiveness;
+了解減值評估的關鍵內部控制及其設計和運行有效
+性;
+indicators of non-financial non-current assets and
+checked the reasonableness of identification of
+CGUS and impairment test model;
+與管理層討論非金融非流動資產減值跡象並審查現
+金產生單位識別及減值測試模型的合理性;
+Evaluated the appropriateness of management's
+assumptions used in the impairment test
+(including revenue growth, profit margin, forecast
+periods, etc);
+評估減值測試中管理層使用的假設的恰當性(包括收
+入增長、利潤率、預測期等);
+Annual Report 2021
+二零二一年年報
+95
+Independent auditor's report
+獨立核數師報告書
+As the assessment process is relatively complicated and
+involves significant estimates, which may be affected
+by unexpected future market and economic conditions,
+impairment assessment of non-financial non-current assets
+was considered as a key audit matter during the year.
+Discussed with management on the impairment
+Recalculated and checked management's
+provision for expected credit losses on trade
+receivables, contract assets and long-term
+receivables to ensure mathematical accuracy.
+Management uses a provision matrix to calculate the
+expected credit losses for trade receivables, long-term
+receivables and contract assets. The application of the
+provision matrix requires to consider all reasonable and
+reliable information, including customers' credit risks,
+aging of receivables, existence of disputes and historic
+payments, as well as forecasts of future economic
+conditions. The groupings of various customer segments
+and the estimation of expected credit loss rate involve
+significant judgements and estimates.
+Our opinion on the consolidated financial statements does not
+cover the other information and we do not express any form of
+assurance conclusion thereon.
+In connection with our audit of the consolidated financial
+statements, our responsibility is to read the other information and,
+in doing so, consider whether the other information is materially
+inconsistent with the consolidated financial statements or our
+knowledge obtained in the audit or otherwise appears to be
+materially misstated. If, based on the work we have performed,
+we conclude that there is a material misstatement of this other
+information, we are required to report that fact. We have nothing
+to report in this regard.
+我們對合併財務報表作出的意見並未涵蓋其他信
+息,且我們不對其他信息發表任何形式的核證結論。
+就審核合併財務報表而言,我們的責任是閱讀其他
+信息,從而考慮其他信息是否與合併財務報表或我
+們在審核過程中獲悉的情況存在重大不符,或似乎
+存在重大錯誤陳述。倘我們基於已完成的工作,認
+為其他信息出現重大錯誤陳述,我們須報告該事
+實。我們就此並無任何事項須予報告。
+BYD Company Limited
+98
+比亞迪股份有限公司
+Independent auditor's report
+獨立核數師報告書
+RESPONSIBILITIES OF THE DIRECTORS FOR THE
+CONSOLIDATED FINANCIAL STATEMENTS
+The directors of the Company are responsible for the preparation
+of the consolidated financial statements that give a true and fair
+view in accordance with HKFRSS issued by the HKICPA and the
+disclosure requirements of the Hong Kong Companies Ordinance,
+and for such internal control as the directors determine is
+necessary to enable the preparation of consolidated financial
+statements that are free from material misstatement, whether due
+to fraud or error.
+In preparing the consolidated financial statements, the directors
+of the Company are responsible for assessing the Group's ability
+to continue as a going concern, disclosing, as applicable, matters
+related to going concern and using the going concern basis of
+accounting unless the directors of the Company either intend to
+liquidate the Group or to cease operations or have no realistic
+alternative but to do so.
+The directors of the Company are assisted by the Audit Committee
+in discharging their responsibilities for overseeing the Group's
+financial reporting process.
+AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF
+THE CONSOLIDATED FINANCIAL STATEMENTS
+Our objectives are to obtain reasonable assurance about whether
+the consolidated financial statements as a whole are free from
+material misstatement, whether due to fraud or error, and to
+issue an auditor's report that includes our opinion. Our report is
+made solely to you, as a body and for no other purpose. We do
+not assume responsibility towards or accept liability to any other
+person for the contents of this report.
+Reasonable assurance is a high level of assurance, but is
+not a guarantee that an audit conducted in accordance with
+HKSAS will always detect a material misstatement when it exists.
+Misstatements can arise from fraud or error and are considered
+material if, individually or in the aggregate, they could reasonably
+be expected to influence the economic decisions of users taken
+on the basis of these consolidated financial statements.
+董事就合併財務報表須承擔的責任
+貴公司董事須負責根據香港會計師公會頒佈的《香港
+財務報告準則》及《香港公司條例》的披露規定真實
+公允地編製合併財務報表,以及維持董事認為必要
+的有關內部控制,以確保編製合併財務報表時不存
+在由於欺詐或錯誤而導致的重大錯誤陳述。
+於編製合併財務報表時, 貴公司董事須負責評
+估 貴集團持續經營的能力,並披露與持續經營有
+關的事項(如適用),以及使用以持續經營為基礎的
+會計法,除非貴公司董事有意將貴集團清盤或
+停止營運,或並無其他實際可行的替代方案。
+審核委員會協助貴公司董事履行監督貴集團的
+財務報告過程的責任。
+核數師就審核合併財務報表須承擔的責任
+我們的目標是對整體合併財務報表是否不存在由於
+欺詐或錯誤而導致的重大錯誤陳述取得合理核證,
+並出具包含我們意見的核數師報告。我們的報告僅
+為全體股東編製,而並不可作其他目的。我們不會
+就本報告的內容向任何其他人士負責或承擔責任。
+合理核證屬高層次的核證,但不能保證按《香港審核
+準則》進行的審核始終能夠發現所有存在的重大錯誤
+陳述。錯誤陳述可源於欺詐或錯誤,倘合理預期其
+個別或整體影響合併財務報表使用者作出的經濟決
+定,則有關的錯誤陳述可視為重大。
+貴公司董事對其他信息承擔責任。其他信息包括年
+度報告中除合併財務報表及本核數師報告之外的信
+息。
+於二零二一年十二月三十一日,應收貿易賬款人民幣
+35,593,138,000元、長期應收賬款人民幣1,168,475,000元及
+合同資產人民幣8,493,382,000元,對合併財務報表而言屬重
+大部分。
+The directors of the Company are responsible for the other
+information. The other information comprises the information
+included in the Annual Report, other than the consolidated
+financial statements and our auditor's report thereon.
+重新計算及核查管理層對應收貿易賬款、合同資產及
+長期應收賬款的預期信貸虧損所作的撥備以確保算術
+準確性。
+管理層採用撥備矩陣計算應收貿易賬款、長期應收賬款及合同
+資產的預期信貸虧損。應用撥備矩陣需要考慮所有合理且有依
+據的資料,包括客戶信貸風險、應收賬款賬齡、是否存在回款
+糾紛、以往付款歷史,以及對未來經濟狀況的預測。各個客戶
+分部的分組及對預期信貸虧損率的估計涉及重大判斷及估計。
+Details of the provision for expected credit losses on trade
+receivables, contract assets and long-term receivables are
+disclosed in notes 2.4, 3, 25, 28 and 29 to the consolidated
+financial statements.
+應收貿易賬款、合同資產及長期應收賬款的預期信貸虧損撥備
+詳情披露於合併財務報表附註2.4、3、25、28及29。
+We performed the following procedures, among others,
+in relation to the provision for expected credit losses:
+我們對預期信貸虧損撥備執行(其中包括)以下程序:
+Obtained an understanding of key internal
+controls of the provision for expected
+credit losses and its design and operating
+effectiveness;
+了解預期信貸虧損撥備的關鍵內部控制及其設計和運
+行有效性;
+Discussed with management on the identification
+of customer segments and estimates on expected
+credit losses, reviewed their accuracy based
+on historical incurred losses, and evaluated
+the reasonableness of management's expected
+credit loss model considering current economic
+conditions;
+與管理層就識別客戶分組及對預期信貸虧損的估計進
+行討論,根據過往產生的虧損檢討其準確性,並鑒於
+當前經濟狀況評估管理層預期信貸虧損模型的合理
+性;
+For trade receivables with individually assessed
+credit risk exposure, discussed with management
+on the reasonableness of identification and
+analysed the recoverability of such receivables;
+就個別評估信貸風險的應收貿易賬款而言,與管理層
+討論識別的合理性及分析有關應收賬款的可收回性;
+Annual Report 2021
+二零二一年年報
+97
+Independent auditor's report
+獨立核數師報告書
+Key audit matter
+關鍵審核事項
+How our audit addressed the key audit matter
+該事項在審核中是如何應對
+OTHER INFORMATION INCLUDED IN THE ANNUAL
+REPORT
+For trade receivables with credit risk exposure
+assessed based on provision matrix, evaluated
+the reasonableness of estimates on the expected
+credit loss model based on type of customers
+and historical incurred losses;
+就按撥備矩陣評估信貸風險的應收貿易賬款而言,評
+估對根據客戶類型及過往產生的虧損得出的預期信貸
+虧損模型的估計的合理性;
+BYD Company Limited
+年度報告所包含的其他信息
+94
+比亞迪股份有限公司
+根據我們的專業判斷,關鍵審核事項為我們審核本
+年度合併財務報表中最重要的事項。這些事項的應
+對以審核整體合併財務報表及形成意見為背景,我
+們不會就此等事項單獨發表意見。我們就以下各��
+項在審核中是如何處理的描述也以此為背景。
+比亞迪股份有限公司
+Report of the Supervisory Committee
+監事會報告
+In 2021, in accordance with the principle of being accountable
+to all shareholders, the Supervisory Committee of the Company
+fully complied with the duties to supervise and ensure that the
+resolutions as passed in general meetings were consistently
+implemented, the legal interest of shareholders was protected
+and the duties conferred under the Articles of Association and
+in the general meetings were completed in accordance with
+the Company Law, the Articles of Association and the relevant
+provisions, facilitating a disciplined operation and sustainable
+development of the Company.
+1. MEETINGS OF THE SUPERVISORY COMMITTEE
+DURING THE REPORTING PERIOD AND
+RESOLUTIONS PASSED IN SUCH MEETINGS
+On 29 March 2021, the Supervisory Committee convened
+its meeting at the office of the Company, where the annual
+report of the Company for 2020 was considered and
+approved accordingly.
+On 28 April 2021, the Supervisory Committee convened
+its meeting at the office of the Company, where the first
+quarterly report of the Company for 2021 was considered
+and approved accordingly.
+On 10 May 2021, the Supervisory Committee convened its
+meeting at the office of the Company, where the Matter on
+Spin-off and Listing of BYD Semiconductor on the ChiNext
+Board was considered and approved accordingly.
+On 27 August 2020, the Supervisory Committee convened
+its meeting at the office of the Company, where the interim
+report of the Company for 2021 was considered and
+approved accordingly.
+90
+On 28 October 2020, the Supervisory Committee convened
+二零二一年度公司監事會根據《公司法》、《公司章
+程》及有關法規的規定,本著對全體股東負責的精
+神,認真履行了監督的職責,確保股東大會決議的
+貫徹落實,維護了股東的合法權益,完成了《公司章
+程》和股東大會賦予的任務,對公司規範運作和持續
+發展發揮了較好的作用。
+1.
+報告期內監事會的會議情況和決議內
+容
+二零二一年三月二十九日,在公司召開監事
+會會議,會議審議通過公司二零二零年年度
+報告。
+二零二一年四月二十八日,在公司召開監事
+會會議,會議審議通過公司二零二一年第一
+季度報告。
+二零二一年五月十日,在公司召開監事會會
+議,會議審議通過關於分拆比亞迪半導體至
+創業板上市的相關事宜。
+二零二零年八月二十七日,在公司召開監事
+會會議,會議審議通過公司二零二一年中期
+報告。
+二零二零年十月二十八日,在公司召開監事
+會會議,會議審議通過公司二零二一年第三
+季度報告。
+Annual Report 2021
+二零二一年年報
+Report of the Supervisory Committee
+its meeting at the office of the Company, where the third
+quarterly report of the Company for 2021 was considered
+and approved accordingly.
+BYD Company Limited
+89
+中國深圳,二零二二年三月二十九日
+Annual Report 2021
+二零二一年年報
+Report of the Directors
+董事會報告
+The aggregate gross proceeds from the 2nd Placing are
+approximately HK$13,800 million and the net proceeds (after
+deduction of the commissions and estimated expenses) from the
+2nd Placing are approximately HK$13,744 million; the net_price
+(after deduction of the commissions and estimated expenses)
+raised per H Share is approximately HK$274.9. The net proceeds
+from the 2nd Placing are intended to be used by the Group to
+supplement its working capital, repay interest-bearing debt, invest
+in research and development and as general corporate purpose.
+As at 31 December 2021,the Group has fully utilised the net
+proceeds of approximately RMB11,297 million from the 2nd
+Placing (excluding the investment income from exchange rate
+fluctuation and interest of deposits), of which (i) approximately
+RMB10,877 million was used in investment in research
+and development and general corporate purpose; and (ii)
+approximately RMB420 million was used for repayment of interest-
+bearing debt.
+As at 31 December 2021, the net proceeds from the 2nd Placing
+I have been fully utilised as intended and there is no material
+change between the intended and actual use of proceeds.
+Accordingly, as at 31 December 2021, the Group has fully utilized
+the net proceeds of approximately RMB36,232 million from the two
+Placings for the year as intended, among which (i) approximately
+RMB22,370 million was used for research and development
+investment and general corporate purposes; (ii) approximately
+RMB9,216_million was used to repay interest-bearing debt; and
+(iii) approximately RMB4,646 million was used by the Group to
+supplement its working capital.
+The aforementioned two rounds of placing offers the Company
+a good opportunity to optimise its capital structure and financial
+structure for its business. Further, the Company will be able to
+enrich its shareholder base by attracting a number of high calibre
+investors to participate in the Placing.
+Save as disclosed in this annual report, the Company did not have
+any other fund-raising activity during the year ended 31 December
+2021 and up to the date of this report.
+配售所得款項總額約為13,800百萬港元,於扣除
+佣金和估計費用後,配售所得款項淨額預計約為
+13,744百萬港元;每股H股所籌集之淨額(扣除佣金
+和估計費用後)約為274.9港元。配售所得款項淨額
+擬用作本集團補充營運資金、償還帶息債務、研發
+投入以及一般企業用途。
+截至二零二一年十二月三十一日止,本集團已悉數
+動用第二輪配售事項所得款項淨額約人民幣11,297
+百萬元,不包含匯率波動造成的投資收益及存款利
+息,其中(i)約人民幣10,877百萬元用於研發投入及
+一般企業用途;(ii)約人民幣420百萬元用於償還帶
+息債務。
+截至二零二一年十二月三十一日,第二輪配售事項
+所得款項淨額已全部按計劃使用完畢,實際用途與
+計劃不存在重大差異。
+因此,截至二零二一年十二月三十一日止,本集團
+已悉數動用年內兩次配售事項所得款項淨額約人民
+幣36,232百萬元,其中(i)約人民幣22,370百萬元用
+於研發投入及一般企業用途;(ii)約人民幣9,216百
+萬元用於償還帶息債務;及(iii)約人民幣4,646百萬
+元用於補充本集團營運資金。
+上述兩輪配售為本公司在業務機會中提供優化資本
+結構和財務結構的良機,亦通過吸引若干高品質機
+構投資者參與配售,進一步豐富本公司股東基礎。
+除本年度報告所披露者外,於截至二零二一年十二
+月三十一日止年度及截至本報告日期內,本公司並
+無進行任何其他集資活動。
+On behalf of the Board
+承董事會命
+Wang Chuan-fu
+Chairman
+Shenzhen, PRC, 29 March 2022
+主席
+王傳福
+91
+我們已履行本報告之核數師就審核合併財務報表
+須承擔的責任一節中所述的責任(包括有關該等事
+項)。相應地,我們審核中包括執行有關程序,旨在
+對合併財務報表的重大錯誤陳述的風險評估作出反
+應。審核程序的結果(包括用於處理以下事項的程
+序)為隨附合併財務報表的審核意見提供基礎。
+監事會報告
+2.
+獨立核數師報告書
+To the shareholders of BYD Company Limited
+(Registered in the People's Republic of China with limited liability)
+OPINION
+We have audited the consolidated financial statements of
+BYD Company Limited (the “Company") and its subsidiaries
+(the “Group”) set out on pages 101 to 311,which comprise
+the consolidated statement of financial position as at 31
+December 2021, and the consolidated statement of profit or
+loss, the consolidated statement of comprehensive income, the
+consolidated statement of changes in equity and the consolidated
+statement of cash flows for the year then ended, and notes to
+the consolidated financial statements, including a summary of
+significant accounting policies.
+In our opinion, the consolidated financial statements give a
+true and fair view of the consolidated financial position of the
+Group as at 31 December 2021, and of its consolidated financial
+performance and its consolidated cash flows for the year then
+ended in accordance with Hong Kong Financial Reporting
+Standards ("HKFRSS") issued by the Hong Kong Institute of
+Certified Public Accountants ("HKICPA") and have been properly
+prepared in compliance with the disclosure requirements of the
+Hong Kong Companies Ordinance.
+致比亞迪股份有限公司股東
+(於中華人民共和國註冊成立的股份有限公司)
+意見
+本核數師已完成審核比亞迪股份有限公司(「貴公
+司」)及其附屬公司(「貴集團」)載於第101頁至第
+311頁的合併財務報表,此合併財務報表包括二零
+二一年十二月三十一日的合併財務狀況表、截至該
+日止年度的合併損益表、合併綜合收益表、合併權
+益變動表及合併現金流量表,以及合併財務報表附
+註,包括主要會計政策概要。
+我們認為,合併財務報表已按照香港會計師公會頒
+佈的《香港財務報告準則》真實公允地反映貴集團
+於二零二一年十二月三十一日的合併財務狀況,以
+及 貴集團截至該日止年度的合併財務業績及合併
+現金流量,並根據《香港公司條例》的披露要求妥為
+編製。
+Annual Report 2021
+二零二一年年報
+93
+Independent auditor's report
+獨立核數師報告書
+BASIS FOR OPINION
+We conducted our audit in accordance with Hong Kong
+Standards on Auditing (“HKSAs") issued by the HKICPA. Our
+responsibilities under those standards are further described in the
+Auditor's responsibilities for the audit of the consolidated financial
+statements section of our report. We are independent of the Group
+in accordance with the HKICPA's Code of Ethics for Professional
+Accountants (the “Code”), and we have fulfilled our other ethical
+responsibilities in accordance with the Code. We believe that the
+audit evidence we have obtained is sufficient and appropriate to
+provide a basis for our opinion.
+KEY AUDIT MATTERS
+Key audit matters are those matters that, in our professional
+judgement, were of most significance in our audit of the
+consolidated financial statements of the current year. These
+matters were addressed in the context of our audit of the
+consolidated financial statements as a whole, and in forming our
+opinion thereon, and we do not provide a separate opinion on
+these matters. For each matter below, our description of how our
+audit addressed the matter is provided in that context.
+We have fulfilled the responsibilities described in the Auditor's
+responsibilities for the audit of the consolidated financial
+statements section of our report, including in relation to these
+matters. Accordingly, our audit included the performance of
+procedures designed to respond to our assessment of the risks
+of material misstatement of the consolidated financial statements.
+The results of our audit procedures, including the procedures
+performed to address the matters below, provide the basis for
+our audit opinion on the accompanying consolidated financial
+statements.
+意見基礎
+我們乃根據香港會計師公會頒佈的《香港審核準則》
+進行審核。我們就該等準則須承擔的責任在本報告
+之核數師就審核合併財務報表須承擔的責任一節中
+詳述。根據香港會計師公會的《專業會計師職業道德
+守則》(「《守則》」),我們獨立於貴集團,並已根據
+《守則》履行其他道德責任。我們相信,我們已取得
+充分而恰當的審核憑證,足以為我們的審核意見提
+供基礎。
+關鍵審核事項
+Independent auditor's report
+2.
+BYD Company Limited
+二零二二年三月二十九日
+報告期內監事會的工作情況
+SUPERVISORY COMMITTEE DURING THE
+REPORTING PERIOD
+During the reporting period, the Supervisory Committee
+of the Company performed its supervisory functions in
+a fiduciary manner. The Supervisory Committee duly
+supervised and examined the Company's financial
+situation, the Board of Directors' execution of the
+resolutions passed in general meetings, operational
+decisions of the management, the operations of the
+Company in compliance with the laws, the acts of the
+Directors, supervisors and senior management of the
+Company, and the related party transactions entered into
+with its controlling shareholder. The Supervisory Committee
+considered that:
+(1) The operating activities of the Company and its
+controlling subsidiaries in 2021 did not violate the
+Company Law, the Articles of Association, financial
+accounting procedures and the laws and regulations
+of the PRC.
+(2)
+During the discharge of their duties in 2021,the
+Directors, supervisors and senior management of
+the Company fulfilled their fiduciary duties by acting
+lawfully, regularized management, explored for
+innovation, with discipline to protect the interests of
+all the shareholders of the Company. None of the
+parties named above was found in breach of the
+Company Law, the Articles of Association or the
+laws and regulations of the PRC.
+在本報告期内,公司監事會忠實履行了監督
+職能,對公司的財務、董事會執行股東大會
+決議的情況、管理層的經營決策、公司的依
+法運作、公司董事、監事及高級管理人員的
+經營行為與控股股東的關聯交易進行了認真
+的監督和檢查,公司監事會認為:
+(1)
+公司及其控股子公司在二零二一年度
+的經營活動中不存在違反《公司法》、
+《公司章程》、財務會計制度及國家法
+律、法規的行為。
+(2)
+92
+公司董事、監事及高級管理人員在二
+零二一年度行使職責時,能忠於職
+守、守法經營、規範管理、開拓創
+新、尊重和維護了全體股東的利益,
+不存在違反《公司法》、《公司章程》
+及國家法律、法規的行為。
+The auditor presented an unqualified auditor's
+report. The report indicates that the financial
+statements give a true and fair view of the financial
+status and operating results of the Company.
+(3)
+會計師事務所出具了無保留意見的審
+計報告。該報告認為本公司的財務報
+表真實、公允地反映公司財務狀況及
+經營成果。
+The Supervisory Committee is confident in the prospect of the
+Company and will proceed to carry out effective supervision on
+the operation of the Company to safeguard the interests of the
+shareholders and the Company as a whole.
+監事會對本公司的前景充滿信心,同時將一如既往
+地對本公司運作實施有效監督,維護股東及本公司
+的整體利益。
+Chairman of the Supervisory Committee
+Dong Jun-qing
+29 March 2022
+監事會主席
+董俊卿
+(3)
+PROGRESS OF THE WORK OF THE
+應收貿易賬款
+25
+55
+(5,742,242) (4,395,630)
+(444,553) (1,166,268)
+Loss on derecognition of financial assets
+(88,765)
+(299,523)
+measured at amortised cost
+Other expenses
+金融資產的虧損
+其他開支
+(1,986,631) (2,056,691)
+Finance costs
+融資成本
+(7,990,974) (7,464,861)
+8
+Share of profits and losses of:
+Joint ventures
+Associates
+分佔溢利及虧損:
+合營公司
+(211,276) (198,955)
+65,981
+12,118
+聯營公司
+PROFIT BEFORE TAX
+除稅前溢利
+6
+(1,907,642) (3,123,801)
+(6,081,678) (5,055,613)
+1,700,078
+1,688,142
+2,263,485
+2020
+二零二一年
+二零二零年
+Notes
+附註
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+5
+211,299,918 153,469,184
+(187,667,357) (126,225,593)
+Gross profit
+Other income and gains
+Government grants and subsidies
+Selling and distribution expenses
+Research and development costs
+Administrative expenses
+Impairment losses on financial and
+其他收入及收益
+政府補助及補貼
+銷售及分銷成本
+研究與開發成本
+行政開支
+金融及合同資產的減值虧損
+終止確認以攤銷成本計量的
+57
+23,632,561 27,243,591
+3,009,737
+4,518,003
+6,882,587
+Income tax expense
+所得稅開支
+1.06
+1.47
+BYD Company Limited
+102
+比亞迪股份有限公司
+Consolidated Statement of Comprehensive Income
+合併綜合收益表
+Year ended 31 December 2021
+截至二零二一年十二月三十一日止年度
+PROFIT FOR THE YEAR
+年度溢利
+OTHER COMPREHENSIVE INCOME/(LOSS)
+其他綜合收益/(虧損)
+Other comprehensive income/(loss)
+that may be reclassified to profit or loss in
+subsequent periods:
+Receivables financing:
+Changes in fair value
+Impairment losses
+其後期間可能重新分類
+至損益的其他綜合
+收益/(虧損):
+應收款項融資:
+公允價值變動
+減值虧損
+Notes
+附註
+2021
+二零二一年
+RMB'000
+人民幣千元
+2020
+6,013,963
+2021
+3,967,266
+基本及攤薄
+11
+(550,737)
+(868,624)
+PROFIT FOR THE YEAR
+年度溢利
+3,967,266
+6,013,963
+Attributable to:
+Owners of the parent
+Non-controlling interests
+EARNINGS PER SHARE ATTRIBUTABLE
+TO ORDINARY EQUITY HOLDERS OF
+THE PARENT
+Basic and diluted
+- For profit for the year
+應佔:
+母公司擁有人
+13
+3,045,188
+4,234,267
+非控股權益
+922,078
+1,779,696
+母公司的普通股
+13
+權益持有人
+應佔每股盈利
+- 年度溢利
+毛利
+銷售成本
+收入
+Impairment of trade receivables, net
+Depreciation of right-of-use assets
+6,882,587
+4,518,003
+除稅前溢利
+Profit before tax
+經營活動產生的現金流量
+(446,911)*
+4,086*
+4,449,500*
+(242,049)* 24,455,356* 1,094,592 56,874,274
+3,045,188
+7,579,638
+64,453,912
+3,045,188
+922,078 3,967,266
+應收款項融資公允價值
+變動
+36,814
+459,222
+36,814
+36,814
+459,222
+459,222
+Consolidated Statement of Changes in Equity
+截至二零二一年十二月三十一日止年度
+Year ended 31 December 2021
+合併權益變動表
+Adjustments for:
+Other comprehensive income/(loss) for the year: 年度其他綜合收益/(虧損):
+Finance costs
+Bank interest income
+新冠肺炎相關的出租人
+虧損/(收益)
+出售於合營公司的投資
+終止確認金融產品及金融工具
+的收益
+公允價值(收益)/虧損淨值
+出售附屬公司的虧損
+出售非流動資產項目的虧損
+政府補助及補貼
+權益投資的股息收入
+來自以公允價值計量的
+銀行利息收入
+溢利及虧損
+融資成本
+調整:
+Depreciation of investment properties
+Write-down of inventories to net realisable value
+Amortisation of other intangible assets
+Depreciation of property, plant and equipment
+from lessors
+Covid-19-related rent concessions
+Loss/(gain) on disposal of investments in joint ventures
+Gain on derecognition of financial products and
+financial instruments
+Fair value (gains)/losses, net
+Loss on disposal of subsidiaries
+Loss on disposal of items of non-current assets
+Government grants and subsidies
+Dividend income from equity investments at
+fair value
+Share of profits and losses of joint ventures
+and associates
+二零二零年
+RMB'000
+人民幣千元
+Change in fair value of receivables
+financing
+at fair value through other comprehensive
+獨立核數師報告書
+Evaluate the overall presentation, structure and content
+of the consolidated financial statements, including the
+disclosures, and whether the consolidated financial
+statements represent the underlying transactions and
+events in a manner that achieves fair presentation.
+Obtain sufficient appropriate audit evidence regarding the
+financial information of the entities or business activities
+within the Group to express an opinion on the consolidated
+financial statements. We are responsible for the direction,
+supervision and performance of the group audit. We remain
+solely responsible for our audit opinion.
+We communicate with the Audit Committee regarding, among
+other matters, the planned scope and timing of the audit and
+significant audit findings, including any significant deficiencies in
+internal control that we identify during our audit.
+We also provide the Audit Committee with a statement that we
+have complied with relevant ethical requirements regarding
+independence and to communicate with them all relationships
+and other matters that may reasonably be thought to bear on our
+independence, and where applicable, actions taken to eliminate
+threats or safeguards applied.
+From the matters communicated with the Audit Committee, we
+determine those matters that were of most significance in the
+audit of the consolidated financial statements of the current
+year and are therefore the key audit matters. We describe these
+matters in our auditor's report unless law or regulation precludes
+public disclosure about the matter or when, in extremely rare
+circumstances, we determine that a matter should not be
+communicated in our report because the adverse consequences
+of doing so would reasonably be expected to outweigh the public
+interest benefits of such communication.
+The engagement partner on the audit resulting in this independent
+auditor's report is M.L. Chau.
+評估合併財務報表(包括資料披露)的整體列
+報方式、架構及內容,以及合併財務報表是
+否已公允地反映及列報相關交易及事項。
+就貴集團內各實體或業務活動的財務資料
+獲得充足適當的審核憑證,以就合併財務報
+表發表意見。我們須負責指導、監督和執
+行 貴集團的審核工作。我們須為我們的審
+核意見承擔全部責任。
+我們就審核工作的計劃範圍和時間及審核過程中識
+別的重大審核發現(包括任何內部控制的重大缺失)
+及其他事項與審核委員會進行溝通。
+我們亦向審核委員會作出聲明,確認我們已遵守有
+關獨立性的道德要求,並就所有被合理認為可能影
+響核數師獨立性的關係和其他事宜以及所採取的消
+除威脅的行動或所應用的保障措施(如適用)與審核
+委員會進行溝通。
+我們通過與審核委員會溝通,確定哪些是本年度合
+併財務報表審核工作的最重要事項,即關鍵審核事
+項。除非法律或法規不容許公開披露此等事項或在
+極罕有的情況下,我們認為披露此等事項可合理預
+期的不良後果將超過公眾知悉此等事項的利益而不
+應在報告中予以披露,否則我們會在核數師報告中
+描述此等事項。
+本獨立核數師報告的審核項目合夥人是周文樂。
+Certified Public Accountants
+Hong Kong
+29 March 2022
+執業會計師
+香港
+二零二二年三月二十九日
+REVENUE
+Cost of sales
+Annual Report 2021
+二零二一年年報
+101
+Consolidated Statement of Profit or Loss
+合併損益表
+Year ended 31 December 2021
+截至二零二一年十二月三十一日止年度
+Independent auditor's report
+Change in fair value of equity investments
+比亞迪股份有限公司
+BYD Company Limited
+income, net of tax
+Exchange differences on translation of
+foreign operations
+Total comprehensive income for the year
+Issue of shares (note 40)
+Addition of non-controlling interests
+Repayment of perpetual loan (note 43(b))
+以公允價值計量並計入其他
+綜合收益的權益投資的
+公允價值變動,扣除稅項
+換算海外業務的匯兌
+差額
+年度綜合收益總額
+發行股份(附註40)
+Annual Report 2021
+二零二一年年報
+99
+Independent auditor's report
+獨立核數師報告書
+As part of an audit in accordance with HKSAS, we exercise
+professional judgement and maintain professional scepticism
+throughout the audit. We also:
+Identify and assess the risks of material misstatement of
+the consolidated financial statements, whether due to fraud
+or error, design and perform audit procedures responsive
+to those risks, and obtain audit evidence that is sufficient
+and appropriate to provide a basis for our opinion. The
+risk of not detecting a material misstatement resulting
+from fraud is higher than for one resulting from error, as
+fraud may involve collusion, forgery, intentional omissions,
+misrepresentations, or the override of internal control.
+Obtain an understanding of internal control relevant to
+the audit in order to design audit procedures that are
+appropriate in the circumstances, but not for the purpose
+of expressing an opinion on the effectiveness of the
+Group's internal control.
+Evaluate the appropriateness of accounting policies used
+and the reasonableness of accounting estimates and
+related disclosures made by the directors.
+Conclude on the appropriateness of the directors' use of
+the going concern basis of accounting and, based on the
+audit evidence obtained, whether a material uncertainty
+exists related to events or conditions that may cast
+significant doubt on the Group's ability to continue as a
+going concern. If we conclude that a material uncertainty
+exists, we are required to draw attention in our auditor's
+report to the related disclosures in the consolidated
+financial statements or, if such disclosures are inadequate,
+to modify our opinion. Our conclusions are based on the
+audit evidence obtained up to the date of our auditor's
+report. However, future events or conditions may cause the
+Group to cease to continue as a going concern.
+作為我們根據《香港審核準則》進行審核的��部分,
+我們在整個審核過程中作出專業判斷並抱持職業懷
+疑態度。我們亦:
+•
+識別及評估由於欺詐或錯誤而導致合併財務
+報表存在重大錯誤陳述的風險,設計及執行
+審核程序以應對該等風險,以及獲得充足及
+適當的審核憑證,以為我們的意見提供基
+礎。由於欺詐可能涉及串謀、偽造、故意遺
+漏、虛假陳述或凌駕於內部控制之上,因此
+未能發現由此造成的重大錯誤陳述比未能發
+現因錯誤而導致的重大錯誤陳述的風險更
+高
+•
+了解與審核有關的內部控制,以設計適當的
+審核程序,但並非旨在對貴集團內部控制的
+有效性發表意見。
+評估董事採用會計政策的恰當性,以及作出
+會計估計及相關披露的合理性。
+對董事採用以持續經營為基礎的會計法的恰
+當性作出結論,並根據已獲取的審核憑證,
+就可能導致對貴集團持續經營能力產生重大
+疑慮的事項或情況是否存在重大不確定因素
+得出結論。倘我們認為存在重大不確定因
+素,則我們須在核數師報告中注意合併財務
+報表的相關資料披露,或倘相關資料披露不
+足,則修訂我們的意見。我們的結論是基於
+截至核數師報告日止所取得的審核憑證。然
+而,未來事件或情況可能導致貴集團不再持
+續經營。
+100
+3,967,266
+6,013,963
+183,000 36,048,731
+(185,931)
+(423,449)
+(423,449)
+(61,600)
+(61,600)
+(61,600)
+116,389
+32,240
+84,149
+(10,518)
+10,518
+(1,100,000)
+(1,094,592) (1,100,000)
+941,928
+941,928
+6666
+-
+36,231,731
+36,231,731
+4,395,032
+917,833
+3,477,199
+3,045,188
+(64,025)
+496,036
+(68,270)
+(4,245)
+(609,380)
+(64,025)
+560,788
+6,283
+使用權資產
+16(a)
+11,233,301
+7,527,852
+商譽
+其他無形資產
+17
+預付款項、其他應收賬款及
+18 27
+65,914
+10,049,904
+65,914
+10,107,776
+18,378,849
+2,670,118
+其他資產
+Due from joint ventures and associates
+應收合營公司及聯營公司款項
+47(C)
+174,762
+Long-term receivables
+長期應收賬款
+29
+10,369* 5,010,288* (306,074)* 26,454,707*
+RMB92,158,528,000 (2020: RMB53,051,539,000) in the consolidated statement
+of financial position.
+These reserve accounts comprise the consolidated reserves of
+於二零二一年十二月三十一日 2,911,143 56,066,812* 4,873,301*
+At 31 December 2021
+Others
+(560,788)
+other assets
+(64,025)
+轉撥至儲備金
+綜合收益的權益投資
+comprehensive income
+Other non-current financial assets
+Deferred tax assets
+Total non-current assets
+其他非流動金融資產
+遞延稅項資產
+非流動資產總值
+22
+39
+233,972
+1,913,316
+284,896
+1,768,975
+129,669,958 89,412,211
+CURRENT ASSETS
+Inventories
+流動資產
+存貨
+24
+43,354,782 31,396,358
+Contract assets
+合同資產
+28
+8,493,382
+5,346,105
+Trade receivables
+添置非控股權益
+1,420,080
+其他
+2,913,836
+以公允價值計量並計入其他
+Appropriation to reserve funds
+Appropriation to statutory surplus reserve fund 轉撥至法定盈餘公積金
+二零二零年末期股息
+2020 final dividend
+已付永續債利息
+Perpetual loan interest paid
+Equity-settled share option arrangements
+Acquisition of non-controlling interests
+以權益結算的購股權安排
+收購非控股權益
+84,149
+10,518
+(5,408)
+償還永續債(附註43(b))
+1,168,475
+1,804,913
+Investments in joint ventures
+於合營公司的投資
+19
+6,814,229
+4,442,807
+Investments in associates
+於聯營公司的投資
+20
+1,090,772
+1,022,781
+Equity investments at fair value through other
+21
+租金優惠
+Prepayments, other receivables and
+Goodwill
+(100,652)
+6,283
+6,283
+(29,434)
+49,125*
+(29,434)
+Exchange differences on translation of
+foreign operations
+換算境外業務產生的匯兌差額
+(68,270)
+(57,989)
+Net other comprehensive loss that
+其後期間可能重新分類至
+(31,456)
+(70,340)
+may be reclassified to profit or loss in
+損益的其他綜合虧損淨額
+subsequent periods
+Other comprehensive income/(loss) that
+will not be reclassified to profit or loss in
+subsequent periods:
+Equity investments at fair value through other
+comprehensive income:
+Changes in fair value
+Income tax effect
+其後期間不會重新分類至
+損益的其他綜合
+收益/(虧損):
+以公允價值計量並計入其他
+(130,086)
+21
+95,069,671
+該等儲備賬包括合併財務狀況表的合併儲備人民幣
+92,158,528,000元(二零二零年:人民幣53,051,539,000元)
+26
+42,702
+(12,680)
+(5,888)
+329
+36,814
+(12,351)
+Exchange differences:
+匯兌差額:
+CASH FLOWS FROM OPERATING ACTIVITIES
+人民幣千元
+二零二零年
+RMB'000
+二零二一年
+RMB'000
+人民幣千元
+附註
+Notes
+2020
+2021
+二零二一年十二月三十一日
+31 December 2021
+合併現金流量表
+Consolidated Statement of Cash Flows
+比亞迪股份有限公司
+108
+BYD Company Limited
+107
+Annual Report 2021
+二零二一年年報
+о
+9,174,538 104,244,209
+Other intangible assets
+綜合收益的權益投資:
+所得稅影響
+Annual Report 2021
+二零二一年年報
+103
+Consolidated Statement of Financial Position
+合併財務狀況表
+31 December 2021
+二零二一年十二月三十一日
+2021
+2020
+二零二一年
+二零二零年
+Notes
+附註
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+NON-CURRENT ASSETS
+非流動資產
+Property, plant and equipment
+物業、廠房及設備
+14
+Investment properties
+投資物業
+15
+75,545,128
+87,500
+58,201,882
+94,217
+Right-of-use assets
+5,505,044
+公允價值變動
+4,395,032
+917,833
+533,089
+(73,867)
+(502,223)
+63,644
+459,222
+(438,579)
+Net other comprehensive income/(loss) that
+其後期間不會重新分類至
+459,222
+(438,579)
+will not be reclassified to profit or loss in
+subsequent periods
+損益的其他綜合
+收益/(虧損)淨額
+OTHER COMPREHENSIVE INCOME/(LOSS)
+FOR THE YEAR, NET OF TAX
+年度其他綜合收益/(虧損)
+扣除稅項
+427,766
+(508,919)
+TOTAL COMPREHENSIVE INCOME FOR
+THE YEAR
+年度綜合收益總額
+4,395,032
+5,505,044
+Attributable to:
+Owners of the parent
+Non-controlling interests
+應佔:
+母公司擁有人
+3,477,199
+3,724,860
+非控股權益
+1,780,184
+使用權資產折舊
+contract assets
+撇減存貨至可變現淨值
+Consolidated Statement of Financial Position
+合併財務狀況表
+31 December 2021
+二零二一年十二月三十一日
+EQUITY
+權益
+Equity attributable to owners of the parent
+母公司擁有人應佔權益
+股本
+Share capital
+Reserves
+Perpetual loans
+Non-controlling interests
+Total equity
+儲備
+永續債
+非控股權益
+權益總額
+Wang Chuan-fu
+王傳福
+Lv Xiang-yang
+呂向陽
+2021
+2020
+Notes
+附註
+二零二一年
+RMB'000
+人民幣千元
+二零二零年
+105
+RMB'000
+Annual Report 2021
+二零二一年年報
+104,244,209
+35
+10,789,958 23,625,954
+Lease liabilities
+租賃負債
+16(b)
+1,415,291
+843,286
+Deferred tax liabilities
+遞延稅項負債
+39
+609,566
+393,150
+Deferred income
+遞延收入
+38
+4,481,036
+2,269,176
+Other liabilities
+其他負債
+37
+2,936,143
+3,001,147
+Total non-current liabilities
+非流動負債總額
+20,231,994 30,132,713
+Net assets
+資產淨值
+64,453,912
+計息銀行及其他借款
+人民幣千元
+2,911,143
+capital account
+reserve
+income
+funds
+fund
+reserve
+profits
+loans
+Total
+Total
+interests
+equity
+以公允價值
+計量並計入
+其他綜合收益
+股本
+RMB'000
+股份溢價賬
+資本儲備
+RMB'000
+RMB'000
+人民幣千元
+人民幣千元人民幣千元
+的金融資產的
+公允價值儲備
+RMB'000
+人民幣千元
+法定
+外匯
+儲備金
+RMB'000
+人民幣千元
+盈餘公積金
+波動儲備
+保留溢利
+Non-controlling
+40 42 43
+Retained Perpetual
+Reserve
+2,728,143
+92,158,528 53,051,539
+1,094,592
+95,069,671 56,874,274
+9,174,538
+7,579,638
+104,244,209 64,453,912
+Attributable to owners of the parent
+母公司擁有人應佔
+Fair value
+reserve of
+financial
+assets
+106
+比亞迪股份有限公司
+BYD Company Limited
+合併權益變動表
+Year ended 31 December 2021
+截至二零二一年十二月三十一日止年度
+Consolidated Statement of Changes in Equity
+at fair value
+Statutory
+Share
+through other
+surplus Exchange
+Share
+premium
+Capital comprehensive
+reserve fluctuation
+永續債
+Interest-bearing bank and other borrowings
+NON-CURRENT LIABILITIES
+2,137,183
+49,006
+2,211,967
+3,434,820
+2,900,852
+30
+31,600
+528,128
+24
+429,041
+30
+30
+109,109
+49,819,860
+277,491
+13,738,498
+166,110,189
+111,605,110
+BYD Company Limited
+104
+比亞迪股份有限公司
+Consolidated Statement of Financial Position
+合併財務狀況表
+31 December 2021
+二零二一年十二月三十一日
+CURRENT LIABILITIES
+流動負債
+2021
+2020
+二零二一年
+Notes
+23333
+附註
+現金及現金等價物
+流動資產總值
+35,593,138
+39,307,896
+Receivables financing
+應收款項融資
+26
+8,743,126
+8,862,340
+Prepayments, other receivables and
+other assets
+預付款項、其他應收賬款及
+其他資產
+27
+15,038,908
+5,911,685
+Due from joint ventures and associates
+應收合營公司及聯營公司款項
+47(c)
+Due from other related parties
+應收其他關聯方款項
+Completed property held for sale
+持作出售已竣工物業
+Derivative financial instruments
+衍生金融工具
+Pledged deposits
+已抵押存款
+Restricted bank deposits
+Cash and cash equivalents
+Total current assets
+受限制銀行存款
+非流動負債
+RMB'000
+人民幣千元
+Trade and bills payables
+Due to other related parties
+Tax payable
+Provision
+應付合營公司及聯營公司款項
+47(c)
+1,636,828
+2,398,177
+應付其他關聯方款項
+47(C)
+84,150
+137,566
+應付稅項
+862,531
+564,498
+撥備
+36
+2,355,564
+1,938,689
+Total current liabilities
+流動負債總額
+171,303,944 106,430,696
+NET CURRENT (LIABILITIES)/ASSETS
+流動(負債)/資產淨額
+(5,193,755) 5,174,414
+TOTAL ASSETS LESS CURRENT LIABILITIES 資產總值減流動負債
+124,476,203
+94,586,625
+Due to joint ventures and associates
+二零二零年
+RMB'000
+人民幣千元
+27,644,643
+35
+應付貿易賬款及票據
+31
+Other payables and accruals
+其他應付款項及應計費用
+32
+79,043,879 49,791,630
+49,410,880
+15,536,057
+Lease liabilities
+租賃負債
+16(b)
+248,428
+168,507
+Derivative financial instruments
+衍生金融工具
+33
+57,541
+Advances from customers
+預收客戶賬款
+1,300
+7,500
+Contract liabilities
+合同負債
+34
+14,721,038
+8,185,888
+其他無形資產攤銷
+計息銀行及其他借款
+22,939,346
+總計
+Interest-bearing bank and other borrowings
+權益總額
+人民幣千元 人民幣千元人民幣千元 人民幣千元 人民幣千元
+非控股權益
+RMB'000
+人民幣千元
+權益總額
+RMB'000
+(note 40)
+(note 42)
+(附註40)
+(附註42)
+於二零二一年一月一日
+年度溢利
+2,728,143 20,018,081* 4,813,476*
+(631,841)
+(214,613)
+(2,233)
+(90,792)
+(374,511)
+112,802
+(394,438)
+375,662
+1,191
+(47,356)
+(176,344)
+9,076
+51,267
+(131,786)
+460
+(48)
+(3,065)
+物業、廠房及設備折舊
+4618615
+10,904,635
+441,051
+2,760,122
+RMB'000
+9,272,924
+328,265
+2,914,802
+總額
+保留溢利
+RMB'000
+through other
+Capital comprehensive
+surplus Exchange
+Reserve
+reserve fluctuation Retained Perpetual
+capital
+account
+reserve
+股本
+RMB'000
+人民幣千元
+股份溢價帳
+RMB'000
+人民幣千元
+資本儲備
+RMB'000
+人民幣千元
+income
+以公允價值
+計量並計入
+其他綜合收益
+的金融資產的
+公允價值儲備
+RMB'000
+人民幣千元
+funds
+fund reserve profits
+loans
+Total
+Non-controlling
+interests equity
+Total
+法定
+外匯
+儲備金
+盈餘公積金
+RMB'000
+人民幣千元
+RMB'000
+波動儲備
+RMB'000
+永續債
+RMB'000
+premium
+707,703
+2,574
+2,685
+44
+191,932
+應收賬款減值淨額
+Impairment of property, plant and equipment
+物業、廠房及設備減值
+6
+212
+5,885
+Equity-settled share option expense
+Changes in reserve funds
+以權益結算的購股開支
+116,389
+74,297
+儲備金變動
+42
+6,283
+4,086
+20,929,711
+24,241,706
+186,837
+3,123,801
+1,907,642
+145,295
+分佔合營公司及聯營公司
+8
+貿易應收款項減值淨額
+非控股權益
+投資性房地產折舊
+預付款項、按金及其他
+499,218
+Impairment of prepayments, deposits and
+other receivables, net
+93,081
+408,122
+648,770
+(Reversal)/impairment losses on receivables
+financing, net
+應收款項融資減值(轉回)/
+虧損淨額
+(5,888)
+329
+Impairment of amounts due from joint ventures and
+associates, net
+應收合營公司及聯營公司
+款項減值淨額
+40,490
+35,366
+(Reversal)/impairment of financial guarantee, net
+財務擔保減值(轉回)/
+虧損淨額
+6
+(22,144)
+17,324
+Impairment of long-term receivables, net
+應收長期賬款減值淨額
+(32,550)
+49,907
+Impairment of contract assets, net
+合同資產減值淨額
+56,479
+214,366
+Impairment of other intangible assets
+其他無形資產減值
+6
+187,061
+Share
+人民幣千元
+Statutory
+At 1 January 2020
+Profit for the year
+Other comprehensive income/(loss) for the year: 年度其他綜合收益/(虧損):
+Change in fair value of receivables
+financing
+Change in fair value of equity investments
+at fair value through other comprehensive
+income, net of tax
+Exchange differences on translation of
+foreign operations
+Total comprehensive income for the year
+換算海外業務的
+匯兌差額
+(58,477)
+Share
+RMB'000
+(58,477)
+488 (57,989)
+年度綜合收益總額
+Repayment of perpetual loan (note 43(b))
+償還永續債(附註43(b))
+Addition to non-controlling interests
+添置非控股權益
+63,622
+Acquisition of non-controlling interests
+收購非控股權益
+16,427
+Disposal of a subsidiary
+出售附屬公司
+(438,579)
+Equity-settled share option arrangements
+(438,579)
+(12,351)
+RMB'000
+RMB'000
+RMB'000
+人民幣千元 人民幣千元
+人民幣千元 人民幣千元
+人民幣千元
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+(note 40)
+(note 42)
+(附註40)
+(附註42)
+於二零二零年一月一日
+年度溢利
+2,728,143 20,018,081 4,645,479
+4,019
+4,100,513
+(183,572) 21,055,034 4,394,592 56,762,289
+4,234,267
+5,839,131 62,601,420
+4,234,267
+1,779,696 6,013,963
+應收款項融資公允
+價值變動
+以公允價值計量並計入其他
+綜合收益的權益投資的
+公允價值變動,扣除稅項
+(12,351)
+(438,579)
+(12,351)
+以權益結算的購股權安排
+RMB'000
+Perpetual loan interest paid
+At 31 December 2020
+Others
+4,086
+4,086
+4,086
+轉撥至儲備金
+Appropriation to reserve funds
+其他
+(378,184)
+Appropriation to statutory surplus reserve fund 轉撥至法定盈餘公積金
+(54,776) (218,465)
+(163,689)
+53,718
+(222,987)
+(222,987)
+(222,987)
+378,184
+20,580 74,298
+34,230
+(69,085)
+at fair value
+financial
+assets
+reserve of
+Fair value
+母公司擁有人應佔
+Attributable to owners of the parent
+Profit for the year
+(16,704)
+At 1 January 2021
+(242,049)* 24,455,356* 1,094,592 56,874,274
+4,086* 4,449,500*
+(446,911)*
+2,728,143 20,018,081* 4,813,476*
+於二零二零年十二月三十一日
+(21,170) (72,729)
+(51,559)
+7,579,638 64,453,912
+53,718
+(163,689)
+(12,493)
+已付永續債利息
+2019 final dividend
+二零一九年末期股息
+(450,930)
+(58,477) 4,234,267
+3,724,860
+1,780,184
+5,505,044
+(3,300,000) (3,300,000)
+(3,300,000)
+63,622
+36,378
+(12,493)
+16,427
+100,000
+(4,262)
+(12,493)
+(20,689)
+Dividends paid to non-controlling shareholders
+償還債券
+償還永續債
+Investment from a non-controlling shareholder
+Perpetual loan interest paid
+Interest paid
+Repayment of bond
+(45,878,805) (59,925,239)
+(1,100,000) (3,300,000)
+Repayment of perpetual loans
+償還銀行貸款及其他借款
+Repayment of bank loans and other borrowings
+40,633,747
+32,872,379
+新增銀行貸款及其他借款
+(5,000,000)
+已付利息
+(111,605)
+已付永續債利息
+(73,321)
+已付非控股股東股息
+(185,931)
+(54,776)
+Dividends paid to owners of the parent
+已付母公司擁有人股息
+(423,449)
+(163,689)
+941,928
+償還超短期融資券
+(222,987)
+(61,600)
+(3,244,577)
+(1,948,323)
+(2,198,416)
+(4,000,000)
+非控股股東投資
+受限制銀行存款及已抵押存款增加
+Increase in restricted bank deposits and pledged deposits
+Lease payments
+2020
+2,000,000
+二零二一年十二月三十一日
+31 December 2021
+合併現金流量表
+Consolidated Statement of Cash Flows
+Annual Report 2021
+二零二一年年報
+(14,444,248)
+(45,403,992)
+111
+投資活動所用現金流量淨額
+(62,500)
+(1,597,014)
+(2,673,460)
+向合營公司及聯營公司出資
+購買指定以公允價值計量並計入
+損益的權益投資
+Capital contributions to joint ventures and associates
+支付的租賃款項
+77,666
+131,786
+(239,800)
+(4,283)
+CASH FLOWS FROM FINANCING ACTIVITIES
+融資活動產生的現金流量
+(140,060)
+公司債券發行開支
+公司債券發行所得款項
+New bank loans and other borrowings
+Repayment of super short-term debentures
+Corporate bond issue expenses
+Proceeds from issue of corporate bonds
+Proceeds from issue of shares
+Share issue expense
+人民幣千元
+RMB'000
+二零二零年
+二零二一年
+RMB'000
+人民幣千元
+2021
+股份發行開支
+發行股份所得款項
+36,371,791
+(270,762)
+Mainland China
+Receipt of shares transfer to non controlling investors
+Principal activities
+本公司應佔
+權益百分比
+Direct
+直接
+註冊股本
+已發行普通/
+註冊成立/登記及
+業務地點
+名稱
+Name
+主要業務
+to the Company
+Percentage of
+share capital
+registered
+Issued ordinary/
+business
+registration and
+incorporation/
+equity attributable
+Place of
+Indirect
+間接
+PRC/
+63,500,000美元
+148,362
+25%
+75%
+US$63,500,000
+PRC/
+中國內地
+BYD Lithium Batteries Co., Ltd.
+(“BYD Li-ion”)**
+中國/
+(“BYD SH”)***
+Shanghai BYD Co., Ltd.
+(「比亞迪鋰電池」)**
+深圳市比亞迪鋰電池公司
+Mainland China 人民幣6,160,000,000元
+100%
+RMB6,160,000,000
+上海比亞迪有限公司
+本公司主要附屬公司的詳情如下:
+有關附屬公司的資料
+本公司及其附屬公司(統稱「本集團」)主要從
+事二次充電電池及光伏產品、汽車及相關產
+品、手機部件及其他電子產品、軌道設備及
+抗疫物資的研究、開發、製造及銷售。
+11,674,297
+13,738,498
+(43,845)
+2,041,002
+36,125,207
+現金及現金等價物增加淨額
+年初現金及現金等價物
+匯率變動影響淨額
+Effect of foreign exchange rate changes, net
+Cash and cash equivalents at beginning of year
+23,199
+NET INCREASE IN CASH AND CASH EQUIVALENTS
+16,062,517
+融資活動產生/(所用)的
+現金流量凈額
+Net cash flows from/(used in) financing activities
+(3,046)
+2,800,000
+收取轉讓予非控股投資者的股份
+收購非控股權益
+Acquisition of non-controlling interests
+(28,907,418)
+CASH AND CASH EQUIVALENTS AT END OF YEAR
+年末現金及現金等價物
+49,819,860
+比亞迪股份有限公司(「本公司」)為一間在中
+華人民共和國(「中國」)註冊成立的股份有
+限公司。本公司的H股股份自二零零二年七
+月三十一日起在香港聯合交易所有限公司上
+市。本公司的註冊辦事處位於中國廣東省深
+圳市大鵬新區葵涌鎮延安路。
+公司及集團資料
+1.
+Particulars of the Company's principal subsidiaries are as
+follows:
+Information about subsidiaries
+products, rail transit equipment and medical protection
+products.
+The principal activities of the Company and its subsidiaries
+(collectively referred to as the “Group") are the research,
+development, manufacture and sale of rechargeable
+batteries and photovoltaic products, automobiles and
+related products, handset components and other electronic
+CORPORATE AND GROUP INFORMATION
+BYD Company Limited (the “Company") is a joint stock
+limited liability company registered in the People's
+Republic of China (the “PRC”). The Company's H shares
+have been listed on The Stock Exchange of Hong Kong
+Limited since 31 July 2002. The registered office of the
+Company is located at Yan An Road, Kuichong, Dapeng
+District, Shenzhen, Guangdong Province, the PRC.
+1.
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+112
+BYD Company Limited
+13,738,498
+(153,877)
+25,960
+(Decrease)/increase in advances from customers
+購買指定以公允價值計量並計入
+其他綜合收益的權益投資
+以公允價值計量的權益投資減少
+終止確認金融產品的收益
+465,064
+688,885
+持作出售已竣工物業減少
+預收客戶款項(減少)/增加
+應付貿易賬款及票據增加
+(614,479)
+668,988
+長期應收賬款減少/(增加)
+(49,006)
+(6,200)
+應收關聯方款項增加
+1,082,385
+應收合營公司及聯營公司款項減少
+1,426,148
+(3,203,756)
+合同資產(增加)/減少
+其他資產(增加)/減少
+Increase in accruals and deferred income
+1,665,513
+Increase in other payables and accruals
+5,500
+16,997,459
+Increase in provision for warranties
+(Decrease)/increase in amounts due to related parties
+3,683,961
+6,535,150
+合同負債增加
+Increase in contract liabilities
+(減少)/增加
+29,148,874
+1,151,578
+應付合營公司及聯營公司款項
+(Decrease)/increase in amounts due to joint ventures
+and associates
+433,573
+2,587,885
+2,631,298
+19,265,980
+其他應付款項及應計費用增加
+應計款項遞延收入增加
+(468,656)
+應付關聯方款項(減少)/增加
+擔保撥備增加
+Increase in trade and bills payables
+Decrease/(increase) in long-term receivables
+存貨增加
+Decrease in trade receivables
+Decrease in restricted bank deposits
+Increase in inventories
+人民幣千元
+RMB'000
+二零二零年
+(12,892,770)
+二零二一年
+RMB'000
+人民幣千元
+2021
+二零二一年十二月三十一日
+31 December 2021
+Consolidated Statement of Cash Flows
+合併現金流量表
+109
+Annual Report 2021
+二零二一年年報
+中國/
+2020
+Decrease in a completed property held for sale
+(6,701,761)
+180,900
+Increase in amounts due from related parties
+joint ventures and associates
+Decrease in amounts due from
+other assets
+(Increase)/decrease in contract assets
+1,521,832
+(3,215,632)
+受限制銀行存款減少
+應收貿易賬款減少
+預付款項、其他應收賬款及
+(1,874,187)
+156,911
+應收款項融資減少/(增加)
+Decrease/(increase) in receivables financing
+110,391
+3,316,228
+342,575
+(Increase)/decrease in prepayments, other receivables and
+(53,416)
+26,709
+416,875
+(1,435,461)
+(5,786,159)
+金融產品增加
+(1,322,671)
+(2,798,668)
+其他無形資產增加
+97,828
+48
+Dividend received from equity investments
+出售合營公司及聯營公司
+出售附屬公司
+租賃費增加
+Increase in financial products
+Additions to other intangible assets
+Disposal of joint ventures and associates
+Disposal of subsidiaries
+in right-of-use assets
+222,329
+(239,359)
+已收權益投資股息
+13,126
+Decrease in equity investments designated at fair value
+Net cash flows used in investing activities
+fair value through profit or loss
+Purchases of equity investments designated at
+Gain on derecognition of financial products
+fair value through other comprehensive income
+Purchases of equity investments designated at
+2,233
+258,977
+出售物業、廠房及設備項目及
+其他無形資產所得款項
+plant and equipment and other intangibles assets
+Proceeds from disposal of items of property,
+22,690
+27,331
+已收合營公司及聯營公司股息
+Dividend received from joint ventures and associates
+826,389
+(3,273,197)
+計入使用權資產的預付土地
+Additions in prepaid land lease payments include
+45,392,668
+65,466,682
+經營活動產生的現金流量淨額
+Net cash flows from operating activities
+(449,320)
+214,613
+631,841
+(254,495)
+BYD Company Limited
+已付稅項
+已收利息
+Interest received
+45,627,375
+65,089,336
+經營產生的現金
+Cash generated from operations
+114,495
+Tax paid
+110
+比亞迪股份有限公司
+Consolidated Statement of Cash Flows
+(4,247,600)
+(21,410,143)
+非流動預付款項增加
+Increase in non-current prepayments
+(5,964,464)
+(9,861,601)
+購入物業、廠房及設備項目
+Purchases of items of property, plant and equipment
+投資活動產生的現金流量
+CASH FLOWS FROM INVESTING ACTIVITIES
+二零二零年
+RMB'000
+人民幣千元
+二零二一年
+RMB'000
+人民幣千元
+2020
+2021
+二零二一年十二月三十一日
+31 December 2021
+合併現金流量表
+(790,868)
+(「比亞迪上海」)***
+高水平組裝
+BYD Auto Co., Ltd.
+編製基準
+2.1
+The consolidated financial statements include the financial
+statements of the Group for the year ended 31 December
+2021. A subsidiary is an entity (including a structured
+entity),directly or indirectly,controlled by the Company.
+Control is achieved when the Group is exposed, or has
+rights, to variable returns from its involvement with the
+investee and has the ability to affect those returns through
+its power over the investee (i.e., existing rights that give
+the Group the current ability to direct the relevant activities
+of the investee).
+Basis of consolidation
+Despite the Group's net current liabilities of approximately
+RMB5,193,755,000 as at 31 December 2021, the
+consolidated financial statements have been prepared on
+a going concern basis because the directors are of the
+view that the Group has sufficient cash flows and credit
+facilities in the foreseeable future to enable it to continue
+its operations and meet its liabilities as and when they fall
+due.
+These financial statements have been prepared in
+accordance with Hong Kong Financial Reporting Standards
+(“HKFRSs”)(which include all Hong Kong Financial
+Reporting Standards, Hong Kong Accounting Standards
+(“HKASs”) and Interpretations) issued by the Hong Kong
+Institute of Certified Public Accountants ("HKICPA"),
+accounting principles generally accepted in Hong Kong
+and the disclosure requirements of the Hong Kong
+Companies Ordinance. They have been prepared under
+the historical cost convention, except for certain equity
+investments at fair value through other comprehensive
+income, other non-current financial assets, receivables
+financing and derivative financial instruments, which have
+been measured at fair value. These financial statements are
+presented in Renminbi ("RMB") and all values are rounded
+to the nearest thousand except when otherwise indicated.
+此等財務報表乃按照由香港會計師公會(「香
+港會計師公會」)頒佈的《香港財務報告準則》
+(「《香港財務報告準則》」)(包括所有《香港財
+務報告準則》、《香港會計準則》(「《香港會計
+準則》」)及詮釋)、香港公認會計原則及香港
+公司條例的披露規定而編製。此等財務報表
+乃按照歷史成本法編製,惟若干以公允價值
+計量並計入其他綜合收益的權益投資、其他
+非流動金融資產、應收款項融資及衍生金融
+工具除外,其乃以公允價值計量。此等財務
+報表以人民幣(「人民幣」)呈列,除另有指明
+外,所有價值乃約整至最接近的千位。
+2.1 BASIS OF PREPARATION
+財務報表附註
+Notes to Financial Statements
+115
+Annual Report 2021
+二零二一年年報
+該等附屬公司均由比亞迪國際(本公司
+附屬公司之一)全資擁有。
+^
+31 December 2021
+二零二一年十二月三十一日
+儘管截至 2021年12月31日,本集團的淨流
+動負債約為人民幣5,193,755,000元,本合
+併財務報表仍以持續經營為基礎編制,因為
+董事認為本集團在可預見的將來有足夠的現
+金流量和信貸額度,使其能夠繼續經營,並
+在負債到期時償付。
+合併基準
+合併財務報表包括本集團截至二零二一年十
+二月三十一日止年度之財務報表。附屬公司
+乃一間由本公司直接或間接控制的實體(包
+括結構性實體)。當本集團對參與投資對像
+業務的浮動回報承擔風險或享有權利以及能
+透過對投資對象的權力(即本集團獲賦予現
+有能力以主導投資對像相關活動的既存權
+利)影響該等回報時,即取得控制權。
+倘本公司直接或間接擁有少於投資對像大多
+數投票權或類似權利,則本集團於評估其是
+否擁有對投資對象的權力時會考慮一切相關
+事實及情況,包括:
+合併基準(續)
+編製基準(續)
+2.1
+majority of the voting or similar rights of an investee, the
+When the Company has, directly or indirectly, less than a
+Basis of consolidation (continued)
+2.1 BASIS OF PREPARATION (CONTINUED)
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+116
+BYD Company Limited
+These subsidiaries were wholly owned by BYD Int'l, one
+of the Company's subsidiaries.
+^
+該等附屬公司根據中國法律註冊為外商
+獨資企業。
+****
+中國內地
+automobiles and components
+研究及開發汽車及部件
+Mainland China _ _ _ 人民幣1,000,000,000元
+中國/
+長沙市比亞迪汽車有限公司
+(「長沙汽車」)**
+("Changsha Auto")**
+Research and development of
+99.88%
+RMB1,000,000,000
+PRC/
+Changsha BYD Auto Co., Ltd.
+銷售及分銷汽車;提供相關售後服務
+provision of related after-sales
+services
+Sale and distribution of automobiles;
+中國內地
+Mainland China _ _
+_ 
+人民幣1,050,000,000元
+中國/
+BYD (Shangluo) Industrial Co., Ltd. PRC/
+Group considers all relevant facts and circumstances in
+RMB2,600,000,000
+(“Shangluo BYD")***
+商洛比亞迪實業有限公司
+These subsidiaries are registered as wholly-foreign-
+owned enterprises under PRC law.
+These subsidiaries are registered as Sino-foreign joint
+ventures under PRC law.
+該等附屬公司根據中國法律註冊為中外
+合營公司。
+該等附屬公司均根據中國法律註冊為有
+限公司。
+比亞迪國際為一間於香港註冊成立的附
+屬公司,其股份於香港聯合交易所有限
+公司上市。
+研究、開發、製造及銷售太陽能電池及
+太陽能陣列
+batteries and solar arrays
+manufacture and sale of solar
+Research, development,
+These subsidiaries are registered as limited liability
+companies under PRC law.
+with its shares listed on The Stock Exchange of Hong
+Kong Limited.
+BYD Int'l is a subsidiary incorporated in Hong Kong
+中國內地
+(「商洛比亞迪」)***
+Mainland China 人民幣2,600,000,000元
+中國/
+38.50% 60.92%
+(“BYD Auto Sales")**
+比亞迪汽車銷售有限公司
+(「比亞迪汽車銷售])**
+assessing whether it has power over an investee, including:
+the contractual arrangement with the other vote
+holders of the investee;
+比亞迪股份有限公司
+118
+BYD Company Limited
+炎相關的租金
+優惠(提早採
+納)
+日之後新冠肺
+號的修訂
+Notes to Financial Statements
+《香港財務報告準則》第16在2021年6月30
+《香港財務報告準則》
+第9號、《香港會計準則》
+第39號、《香港財務報告
+準則》第7號、《香港財務
+報告準則》第4號及《香港
+財務報告準則》第16號的
+修訂
+本集團已就本年度的財務報表首次採納下列
+經修訂《香港財務報告準則》。
+30 June 2021 (early adopted)
+Covid-19-Related Rent
+Concessions beyond
+Amendment to HKFRS 16
+Interest Rate Benchmark
+Reform- Phase 2
+利率基準改革-
+第二階段
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+當現有利率基準被替代無風險利率替
+代時,《香港財務報告準則》第9號、
+《香港會計準則》第39號、《香港財務
+報告準則》第7號、《香港財務報告準
+則》第4號及《香港財務報告準則》第
+16號的修訂解決先前影響財務報告之
+修訂未處理的問題。修訂提供對於釐
+定金融資產及負債之合約現金流量之
+基準之變動進行會計處理時無需調整
+金融資產及負債賬面值而更新實際利
+率的可行權宜方法,前提為該變動為
+利率基準改革之直接後果且釐定合約
+現金流量的新基準於經濟上等同於緊
+接變動前的先前基準。此外,該等修
+訂允許利率基準改革所規定對指定對
+沖及對沖文件進行更改,而不會中斷
+對沖關係。過渡期間可能產生的任何
+損益均通過《香港財務報告準則》第9
+號的正常規定進行處理,以衡量及確
+認對沖無效性。倘無風險利率被指定
+為風險組成部分時,該等修訂亦暫時
+減輕了實體必須滿足可單獨識別的要
+求。倘實體合理地預期無風險利率風
+險組成部分於未來24個月內將變得
+可單獨識別,則該減免允許實體於指
+定對沖後假定已滿足可單獨識別之規
+定。此外,該等修訂亦規定實體須披
+露額外資料,以使財務報表的使用者
+能夠了解利率基準改革對實體的金融
+工具及風險管理策略的影響。
+(a)
+經修訂《香港財務報告準則》的性質及影響於
+下文概述:
+separately identifiable requirement when an RFR is
+designated as a risk component. The relief allows
+an entity, upon designation of the hedge, to assume
+that the separately identifiable requirement is met,
+provided the entity reasonably expects the RFR risk
+component to become separately identifiable within
+the next 24 months. Furthermore, the amendments
+require an entity to disclose additional information to
+enable users of financial statements to understand
+the effect of interest rate benchmark reform on an
+entity's financial instruments and risk management
+strategy.
+temporary relief to entities from having to meet the
+without the hedging relationship being discontinued.
+Any gains or losses that could arise on transition
+are dealt with through the normal requirements
+of HKFRS 9 to measure and recognise hedge
+ineffectiveness. The amendments also provide a
+the amendments permit changes required by the
+interest rate benchmark reform to be made to
+hedge designations and hedge documentation
+the contractual cash flows of financial assets and
+liabilities, if the change is a direct consequence
+of the interest rate benchmark reform and the new
+basis for determining the contractual cash flows
+is economically equivalent to the previous basis
+immediately preceding the change. In addition,
+accounting for changes in the basis for determining
+Amendments to HKFRS 9, HKAS 39,HKFRS 7,
+HKFRS 4 and HKFRS 16 address issues not dealt
+with in the previous amendments which affect
+financial reporting when an existing interest rate
+benchmark is replaced with an alternative risk-
+free rate (“RFR”). The amendments provide a
+practical expedient to allow the effective interest
+rate to be updated without adjusting the carrying
+amount of financial assets and liabilities when
+(a)
+The nature and the impact of the revised HKFRSS are
+described below:
+會計政策及披露的變動(續)
+2.2
+2.2 CHANGES IN ACCOUNTING POLICIES AND
+DISCLOSURES (CONTINUED)
+9, HKAS 39, HKFRS 7,
+HKFRS 4 and HKFRS 16
+Amendments to HKFRS
+The Group has adopted the following revised HKFRSS for
+the first time for the current year's financial statements.
+中國內地
+Annual Report 2021
+二零二一年年報
+損益���其他綜合收益各組成部分乃歸屬於本
+集團母公司擁有人及非控股權益,即使此舉
+引致非控股權益結餘為負數。有關本集團成
+員公司之間交易的所有集團內公司間資產及
+負債、權益、收入、開支及現金流量均於合
+併賬目時全數抵銷。
+附屬公司與本公司的財務報表的報告期間相
+同,並採用一致會計政策編製。附屬公司的
+業績由本集團取得控制權之日起計合併入
+賬,並繼續合併入賬至該等控制權終止之時
+為止。
+Profit or loss and each component of other comprehensive
+income are attributed to the owners of the parent of the
+Group and to the non-controlling interests, even if this
+results in the non-controlling interests having a deficit
+balance. All intra-group assets and liabilities, equity,
+income, expenses and cash flows relating to transactions
+between members of the Group are eliminated in full on
+consolidation.
+The financial statements of the subsidiaries are prepared
+for the same reporting period as the Company, using
+consistent accounting policies. The results of subsidiaries
+are consolidated from the date on which the Group obtains
+control, and continue to be consolidated until the date that
+such control ceases.
+本集團的投票權及潛在投票權。
+(C)
+the Group's voting rights and potential voting rights.
+(c)
+其他合同安排所產生的權利;及
+(b)
+rights arising from other contractual arrangements;
+and
+(b)
+與投資對像其他投票持有人的合同安
+排;
+(a)
+117
+(a)
+Notes to Financial Statements
+31 December 2021
+二零二一年十二月三十一日
+2.2
+CHANGES IN ACCOUNTING POLICIES AND
+DISCLOSURES
+2.2
+倘本集團失去對附屬公司的控制權,則其撤
+銷確認(i)該附屬公司的資產(包括商譽)及負
+債;(ii)任何非控股權益的賬面值;及(iii)於
+權益內記錄的累計交易差額;並於損益確認
+(i)所收代價的公允價值;(ii)所保留任何投資
+的公允價值;及(iii)任何因此產生的盈餘或
+虧損。先前於其他綜合收益內確認的本集團
+應佔部分重新分類為損益或留存溢利(如適
+用),所依據的基準與倘本集團直接出售相
+關資產或負債所需依據者相同。
+倘有事實及情況顯示上述的三個控制因素中
+有一個或以上出現變動,則本集團將重新評
+估是否仍控制投資對象。附屬公司的所有權
+權益發生變動(控制權並未發生變動),則按
+權益交易入賬。
+合併基準(續)
+編製基準(續)
+2.1
+consideration received, (ii) the fair value of any investment
+retained and (iii) any resulting surplus or deficit in profit
+or loss. The Group's share of components previously
+recognised in other comprehensive income is reclassified
+to profit or loss or retained profits, as appropriate, on the
+same basis as would be required if the Group had directly
+disposed of the related assets or liabilities.
+recorded in equity; and recognises (i) the fair value of the
+interest and (iii) the cumulative translation differences
+If the Group loses control over a subsidiary, it derecognises
+(i) the assets (including goodwill) and liabilities of the
+subsidiary,(ii) the carrying amount of any non-controlling
+The Group reassesses whether or not it controls an
+investee if facts and circumstances indicate that there are
+changes to one or more of the three elements of control
+described above. A change in the ownership interest of a
+subsidiary, without a loss of control, is accounted for as an
+equity transaction.
+Basis of consolidation (continued)
+2.1 BASIS OF PREPARATION (CONTINUED)
+財務報表附註
+4.29% 94.76%
+會計政策及披露的變動
+PRC/
+(「比亞迪精密製造」) ****^
+中國/
+145,000,000美元
+Mainland China
+Ltd. ("BYD Precision”)****人
+比亞迪精密製造有限公司
+US$145,000,000
+中國內地
+PRC/
+Indirect
+間接
+主要業務
+權益百分比
+Direct
+直接
+註冊股本
+Principal activities
+本公司應佔
+BYD Precision Manufacture Co.,
+Huizhou BYD Battery Co., Ltd.
+(“BYD HZ Battery")***
+比亞迪惠州電池有限公司
+(「比亞迪惠州電池」)**
+PRC/
+研究、開發、銷售及製造汽車及輕鐵運
+輸設備
+light rail transit equipment
+Research, development, sale and
+manufacture of automobiles and
+研究、開發、銷售及製造鋰離子電池及
+附件
+Research, development, sale and
+manufacture of li-ion batteries and
+accessories
+製造、組裝及銷售手機部件、模組及其
+他產品
+Manufacture, assembly and sale
+of mobile handset components,
+modules and other products
+65.76%
+中國內地
+中國/
+150,000,000美元
+Mainland China
+90%
+10%
+US$150,000,000
+已發行普通/
+註冊成立/登記及
+業務地點
+名稱
+Name
+研究、開發、銷售及製造汽車
+manufacture of automobiles
+Research, development, sale and
+Research, development, sale and
+manufacture of li-ion batteries,
+solar batteries and solar arrays
+研究、開發、銷售及製造鋰離子電池、
+太陽能電池及太陽能���列
+manufacture of li-ion batteries
+研究、開發、銷售及製造鋰離子電池
+Research, development, sale and
+中國內地
+(「比亞迪汽車」)***
+Mainland China 人民幣4,381,313,131元
+中國/
+比亞迪汽車有限公司
+(“BYD Auto")***
+99%
+RMB4,381,313,131
+PRC/
+RMB1,050,000,000
+Annual Report 2021
+二零二一年年報
+Investment holding
+113
+31 December 2021
+二零二一年十二月三十一日
+to the Company
+equity attributable
+Percentage of
+share capital
+registered
+Issued ordinary/
+business
+registration and
+incorporation/
+有關附屬公司的資料(續)
+Place of
+Information about subsidiaries (continued)
+(CONTINUED)
+1.
+CORPORATE AND GROUP INFORMATION 1. 公司及集團資料(續)
+Notes to Financial Statements
+BYD Auto Industry Co., Ltd.
+財務報表附註
+US$3,757,654,524 96.79%
+有關附屬公司的資料(續)
+公司及集團資料 (續)
+Place of
+Information about subsidiaries (continued)
+(CONTINUED)
+1. CORPORATE AND GROUP INFORMATION 1.
+incorporation/
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+114
+BYD Company Limited
+中國內地
+31 December 2021
+registration and
+business
+Issued ordinary/
+BYD Auto Sales Co., Ltd.
+PRC/
+間接
+Indirect
+主要業務
+Principal activities
+本公司應佔
+權益百分比
+Direct
+直接
+已發行普通/
+註冊股本
+註冊成立/登記及
+業務地點
+名稱
+to the Company
+equity attributable
+Percentage of
+share capital
+registered
+(「西安電子」) ****/
+製造及銷售手機零部件
+Name
+handset components
+(「比亞迪國際」)*
+比亞迪電子(國際)有限公司
+投資控股
+440,000,000港元
+香港
+Ltd. ("BYD Int'l")*
+65.76%
+HK$440,000,000
+中國內地
+中國/
+3,757,654,524美元
+Mainland China
+中國/
+3.21%
+(“BYD Auto Industry")***
+比亞迪汽車工業有限公司
+(「比亞迪汽車工業])**
+Huizhou BYD Electronic Co., Ltd.
+PRC/
+BYD Electronic (International) Co., Hong Kong
+RMB100,000,000
+Manufacture and sale of mobile
+(“Xi'an Electronic”)****人
+西安比亞迪電子有限公司
+65.76%
+人民幣100,000,000元
+PRC/
+中國/
+110,000,000美元
+中國內地
+Mainland China
+Xi'an BYD Electronic Co., Ltd.
+([惠州電子」)***
+(“Huizhou Electronic")***人
+惠州比亞迪電子有限公司
+High-level assembly
+65.76%
+Mainland China
+US$110,000,000
+《香港會計準則》第37號之修訂澄清,就根據
+《香港會計準則》第37號評估合同是否屬虧損
+性而言,履行合同的成本包括與合同直接相
+關的成本。與合同直接相關的成本包括履行
+該合同的增量成本(例如直接勞工及材料)及
+與履行該合同直接相關的其他成本分配(例
+如分配履行合所用物業、廠房及設備項目的
+折舊開支以及合同管理及監督成本)。一般
+及行政成本與合同並無直接關連,除非根據
+合同明確向對手方收取費用,否則不包括在
+內。該修訂於二零二二年一月一日或之後開
+始的的年度期間生效,並適用於實體於其首
+次應用修訂的年度報告期初尚未履行其所有
+責任的合同。允許提早採用。初步應用該等
+修訂的任何累積影響將確認為首次應用日期
+的期初權益的調整,而無須重列比較資料。
+預期該修訂不會對本集團的財務報告產生任
+何重大影響。
+比亞迪股份有限公司
+BYD Company Limited
+126
+of the annual reporting period in which the entity
+first applies the amendment. The amendment is
+effective for annual periods beginning on or after 1
+January 2022. Earlier application is permitted. The
+amendment is not expected to have a significant
+impact on the Group's financial statements.
+(CONTINUED)
+已頒佈惟未生效的《香港財務報告準
+則》(續)
+2.3
+2.3 ISSUED BUT NOT YET EFFECTIVE HONG
+KONG FINANCIAL REPORTING STANDARDS
+Amendments to HKAS 37 clarify that for the purpose of
+assessing whether a contract is onerous under HKAS 37,
+the cost of fulfilling the contract comprises the costs that
+relate directly to the contract. Costs that relate directly to
+a contract include both the incremental costs of fulfilling
+that contract(e.g., direct labour and materials) and an
+allocation of other costs that relate directly to fulfilling that
+contract (e.g., an allocation of the depreciation charge
+for an item of property, plant and equipment used in
+fulfilling the contract as well as contract management and
+supervision costs). General and administrative costs do
+not relate directly to a contract and are excluded unless
+they are explicitly chargeable to the counterparty under the
+contract. The amendments are effective for annual periods
+beginning on or after 1 January 2022 and shall be applied
+to contracts for which an entity has not yet fulfilled all its
+obligations at the beginning of the annual reporting period
+in which it first applies the amendments. Earlier application
+is permitted. Any cumulative effect of initially applying the
+amendments shall be recognised as an adjustment to the
+opening equity at the date of initial application without
+restating the comparative information. The amendments are
+not expected to have any significant impact on the Group's
+financial statements.
+Notes to Financial Statements
+(CONTINUED)
+31 December 2021
+二零二一年十二月三十一日
+2.3 ISSUED BUT NOT YET EFFECTIVE HONG
+KONG FINANCIAL REPORTING STANDARDS
+2.3
+已頒佈惟未生效的《香港財務報告準
+則》(續)
+Annual Improvements to HKFRSs 2018-2020 sets out
+amendments to HKFRS 1, HKFRS 9, Illustrative Examples
+accompanying HKFRS 16,and HKAS 41. Details of the
+amendments that are expected to be applicable to the
+Group are as follows:
+HKFRS 9 Financial Instruments: clarifies the fees
+that an entity includes when assessing whether the
+terms of a new or modified financial liability are
+substantially different from the terms of the original
+financial liability. These fees include only those
+paid or received between the borrower and the
+31 December 2021
+二零二一年十二月三十一日
+lender, including fees paid or received by either the
+borrower or lender on the other's behalf. An entity
+applies the amendment to financial liabilities that
+are modified or exchanged on or after the beginning
+財務報表附註
+財務報表附註
+124
+125
+31 December 2021
+二零二一年十二月三十一日
+HKFRS 16 Leases: removes the illustration of
+payments from the lessor relating to leasehold
+improvements in Illustrative Example 13
+accompanying HKFRS 16. This removes potential
+confusion regarding the treatment of lease
+incentives when applying HKFRS 16.
+2.3 ISSUED BUT NOT YET EFFECTIVE HONG
+KONG FINANCIAL REPORTING STANDARDS
+2.3
+已頒佈惟未生效的《香港財務報告準
+則》(續)
+(CONTINUED)
+Amendments to HKAS 1 Disclosure of Accounting Policies
+require entities to disclose their material accounting
+policy information rather than their significant accounting
+policies. Accounting policy information is material if,
+when considered together with other information included
+in an entity's financial statements, it can reasonably be
+expected to influence decisions that the primary users of
+general purpose financial statements make on the basis
+of those financial statements. Amendments to HKFRS
+Practice Statement 2 provide non-mandatory guidance
+on how to apply the concept of materiality to accounting
+policy disclosures. Amendments to HKAS 1 are effective
+for annual periods beginning on or after 1 January
+2023 and earlier application is permitted. Since the
+guidance provided in the amendments to HKFRS Practice
+Statement 2 is non-mandatory, an effective date for these
+amendments is not necessary. The amendments are not
+expected to have any significant impact on the Group's
+financial statements.
+Amendments to HKAS 8 clarify the distinction between
+changes in accounting estimates and changes in
+accounting policies. Accounting estimates are defined as
+monetary amounts in financial statements that are subject
+to measurement uncertainty. The amendments also clarify
+how entities use measurement techniques and inputs
+to develop accounting estimates. The amendments are
+effective for annual reporting periods beginning on or
+after 1 January 2023 and apply to changes in accounting
+policies and changes in accounting estimates that occur
+on or after the start of that period. Earlier application is
+permitted. The amendments are not expected to have any
+significant impact on the Group's financial statements.
+《香港會計準則》第1號之修訂「會計政策的披
+露」要求實體披露其重大會計政策資料而非
+其重要的會計政策。倘會計政策資料與實體
+財務報表中包含的其他資料一併考慮時,可
+以合理地預期會影響一般目的財務報表的主
+要使用者根據這些財務報表所做的決定,則
+該資料屬重要。《香港財務報告準則》實務公
+告第2號之修訂就如何將重要性的概念應用
+於會計政策披露提供非強制性指引。《香港
+會計準則》第1號的修訂於二零二三年一月一
+日或之後開始的年度期間生效並允許提前採
+用。由於在《香港財務報告準則》實務公告第
+2號之修訂中所提供的指引並非非強制性,
+故該等修訂的生效日期並無必要。這些修訂
+預期對本集團的財務報表沒有任何重大影
+《香港會計準則》第8號的修訂澄清了在會計
+估計變動與會計政策變動之間的區別。會計
+估計是受計量不確定性影響的財務報表中的
+貨幣金額。該修訂亦闡明了實體如何使用計
+量技術及輸入值來編製會計估計。該修訂於
+二零二三年一月一日或之後開始的年度報告
+期間生效,並適用於該期間開始時或之後的
+會計政策變更及會計估計變更。允許提前採
+用。預期該修訂不會對本集團的財務報表產
+生任何重大影響。
+BYD Company Limited
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+2.3 ISSUED BUT NOT YET EFFECTIVE HONG
+KONG FINANCIAL REPORTING STANDARDS
+2.3
+已頒佈惟未生效的《香港財務報告準
+則》(續)
+(CONTINUED)
+Amendments to HKAS 12 narrow the scope of the
+initial recognition exception so that it no longer applies
+to transactions that give rise to equal taxable and
+deductible temporary differences, such as leases and
+decommissioning obligations. Therefore, entities are
+required to recognise a deferred tax asset and a deferred
+tax liability for temporary differences arising from these
+transactions. The amendments are effective for annual
+reporting periods beginning on or after 1 January 2023
+and shall be applied to transactions related to leases
+and decommissioning obligations at the beginning of the
+earliest comparative period presented, with any cumulative
+effect recognised as an adjustment to the opening
+balance of retained profits or other component of equity as
+appropriate at that date. In addition, the amendments shall
+be applied prospectively to transactions other than leases
+and decommissioning obligations. Earlier application is
+permitted. The amendments are not expected to have any
+significant impact on the Group's financial statements.
+Amendments to HKAS 16 prohibit an entity from deducting
+from the cost of an item of property, plant and equipment
+any proceeds from selling items produced while bringing
+that asset to the location and condition necessary for it.
+to be capable of operating in the manner intended by
+management. Instead, an entity recognises the proceeds
+from selling any such items, and the cost of those items,
+in profit or loss. The amendments are effective for annual
+periods beginning on or after 1 January 2022 and shall be
+applied retrospectively only to items of property, plant and
+equipment made available for use on or after the beginning
+of the earliest period presented in the financial statements
+in which the entity first applies the amendments. Earlier
+application is permitted. The amendments are not expected
+to have any significant impact on the Group's financial
+statements.
+《香港會計準則》第12號之修訂縮小了初始
+確認的豁免範圍,故其不再適用於產生相等
+應課稅及可抵扣暫時差異的交易,例如租賃
+及棄置義務。因此,實體被要求確認這些交
+易中產生的暫時差異的延遲稅項資產及延遲
+稅項負債。該修訂於二零二三年一月一日或
+之後開始的年度報告期間生效,並將在所提
+出的最早的比較時期初期開始應用於與租賃
+及棄置義務有關的交易,任何累積效應被確
+認為於該日對保留溢利或其他權益成分的期
+初餘額的調整(如適用)。此外,該修訂將可
+能被提前應用於除租賃及棄置義務以外的交
+易。允許提前採用該修訂。預期該修訂不會
+對本集團財務報表產生任何重大影響。
+《香港會計準則》第16號的修訂禁止實體從
+物業、廠房及設備的成本中扣除資產達到管
+理層預定的可使用狀態(包括位置與條件)過
+程中產生的任何出售項目所得款項。相反,
+實體必須將任何該等項目的出售所得款項及
+該等項目的成本於損益確認。該等修訂於二
+零二二年一月一日或之後開始的年度期間生
+效,並僅追溯應用實體於首次採用該等修訂
+的財務報表所呈列的最早期間的期初或之後
+可供使用的物業、廠房及設備項目。允許提
+前應用。該等修訂預期不會對本集團的財務
+報表造成任何重大影響。
+Annual Report 2021
+二零二一年年報
+Notes to Financial Statements
+《香港財務報告準則》二零一八年至二零二零
+年之年度改進載列《香港財務報告準則》第1
+號、《香港財務報告準則》第9號、《香港財務
+報告準則》第16號相應闡釋範例及《香港會計
+準則》第41號的修訂。預期將適用於本集團
+的修訂的詳情如下:
+Notes to Financial Statements
+《香港財務報告準則》第16號租賃:
+於《香港財務報告準則》第16號隨附
+闡釋範例13中刪除出租人與租賃物
+業裝修有關的付款闡釋。此消除應用
+《香港財務報告準則》第16號時對租
+賃激勵處理的潛在混淆。
+倘於聯營公司的投資變成於合營公司的投
+資,則保留權益不會重新計量,反之亦然。
+投資繼續以權益法入賬。在所有其他情況
+下,於失去對聯營公司的重大影響力或失去
+對合營公司的共同控制權後,本集團以公允
+價值計量及確認任何保留投資。於失去重大
+影響力或共同控制權後聯營公司或合營公司
+的賬面值與保留投資公允價值及出售所得款
+項之間的任何差額,於損益確認。
+BYD Company Limited
+128
+比亞迪股份有限公司
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+業務合併及商譽
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+重要會計政策摘要(��)
+control and the fair value of the retained investment and
+proceeds from disposal is recognised in profit or loss.
+Business combinations and goodwill
+whether to measure the non-controlling interests in the
+acquiree that are present ownership interests and entitle
+their holders to a proportionate share of net assets in the
+event of liquidation at fair value or at the proportionate
+share of the acquiree's identifiable net assets. All other
+components of non-controlling interests are measured
+at fair value. Acquisition-related costs are expensed as
+incurred.
+The Group determines that it has acquired a business
+when the acquired set of activities and assets includes an
+input and a substantive process that together significantly
+contribute to the ability to create outputs.
+When the Group acquires a business, it assesses the
+financial assets and liabilities assumed for appropriate
+classification and designation in accordance with the
+contractual terms, economic circumstances and pertinent
+conditions as at the acquisition date. This includes the
+separation of embedded derivatives in host contracts of
+the acquiree.
+If the business combination is achieved in stages, the
+previously held equity interest is remeasured at its
+acquisition date fair value and any resulting gain or loss is
+recognised in profit or loss.
+Any contingent consideration to be transferred by the
+acquirer is recognised at fair value at the acquisition
+date. Contingent consideration classified as an asset or
+liability is measured at fair value with changes in fair value
+recognised in profit or loss. Contingent consideration that
+is classified as equity is not remeasured and subsequent
+settlement is accounted for within equity.
+業務合併乃以收購法入賬。轉讓的代價乃以
+收購日期的公允價值計算,該公允價值為本
+集團轉讓的資產、本集團自被收購方的前擁
+有人承擔的負債及本集團發行以換取被收購
+方控制權的股本權益於收購日期的公允價值
+總和。於各業務合併中,本集團選擇是否以
+公允價值或被收購方可識別資產淨值的應佔
+比例,計量於被收購方的非控股權益(屬現
+時擁有人權益並賦予擁有人權利於清盤時按
+比例分佔其資產淨值)。非控股權益的所有
+其他組成部分乃以公允價值計量。收購相關
+成本於產生時列為開支。
+當所購入的一系列業務及資產包括一項投入
+及一項實質性流程,共同對創造產出的能力
+作出重大貢獻時,本集團確定其已收購一項
+業務。
+當本集團收購一項業務時,會根據合同條
+款、於收購日期的經濟環境及相關條件,評
+估將承擔的金融資產及負債,以作出適合的
+分類及指定。此包括將被收購方主合同中的
+嵌入式衍生工具進行分離。
+倘業務合併分階段進行,先前持有的股權按
+收購日期的公允價值重新計量,而任何所得
+收益或虧損則於損益中確認。
+收購方所轉讓的或有代價按於收購日期的公
+允價值確認。分類為資產或負債的或有代價
+以公允價值計量,公允價值變動確認於損
+益。分類為權益的或有代價並無重新計量,
+而其後結算於權益中入賬。
+財務報表附註
+Business combinations are accounted for using the
+acquisition method. The consideration transferred is
+measured at the acquisition date fair value which is the
+sum of the acquisition date fair values of assets transferred
+by the Group, liabilities assumed by the Group to the
+former owners of the acquiree and the equity interests
+issued by the Group in exchange for control of the
+acquiree. For each business combination, the Group elects
+or joint venture upon loss of significant influence or joint
+If an investment in an associate becomes an investment
+in a joint venture or vice versa, the retained interest is
+not remeasured. Instead, the investment continues to be
+accounted for under the equity method. In all other cases,
+upon loss of significant influence over the associate or joint
+control over the joint venture, the Group measures and
+recognises any retained investment at its fair value. Any
+difference between the carrying amount of the associate
+本集團應佔聯營公司及合營公司的收購後業
+績及其他綜合收益乃分別計入合併損益表及
+合併其他綜合收益。此外,當聯營公司或合
+營公司的權益內直接確認一項變動,則本集
+團在適當情況下會在合併權益變動表確認其
+應佔的變動金額。本集團與其聯營公司或合
+營公司間交易的未變現盈利及虧損按本集團
+應佔該等聯營公司或合營公司的投資撇銷,
+惟未變現虧損提供已轉讓資產減值的憑證則
+除外。收購聯營公司或合營公司所產生的商
+譽列為本集團於聯營公司或合營公司的投資
+之一部分。
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES
+2.4
+重要會計政策摘要
+Investments in associates and joint ventures
+An associate is an entity in which the Group has a long-
+term interest of generally not less than 20% of the equity
+voting rights and over which it is in a position to exercise
+significant influence. Significant influence is the power to
+participate in the financial and operating policy decisions
+of the investee, but is not control or joint control over those
+policies.
+於聯營公司及合營公司的投資
+聯營公司是指本集團擁有一般不少於20%股
+份投票權之長期權益且本集團對其可行使重
+大影響力的實體。重大影響力為參與投資對
+象的財務及營運政策決策的權力,惟並非控
+制或共同控制該等政策。
+Annual Report 2021
+二零二一年年報
+127
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+重要會計政策摘要(續)
+Investments in associates and joint ventures
+(continued)
+A joint venture is a type of joint arrangement whereby
+the parties that have joint control of the arrangement
+have rights to the net assets of the joint venture. Joint
+control is the contractually agreed sharing of control of an
+arrangement, which exists only when decisions about the
+relevant activities require the unanimous consent of the
+parties sharing control.
+The Group's investments in associates and joint ventures
+are stated in the consolidated statement of financial
+position at the Group's share of net assets under the equity
+method of accounting, less any impairment losses.
+The Group's share of the post-acquisition results and
+other comprehensive income of associates and joint
+ventures is included in the consolidated statement of
+profit or loss and consolidated other comprehensive
+income,respectively. In addition, when there has been a
+change recognised directly in the equity of the associate
+or joint venture, the Group recognises its share of any
+changes, when applicable, in the consolidated statement
+of changes in equity. Unrealised gains and losses resulting
+from transactions between the Group and its associates
+or joint ventures are eliminated to the extent of the
+Group's investments in the associates or joint ventures,
+except where unrealised losses provide evidence of an
+impairment of the asset transferred. Goodwill arising from
+the acquisition of associates or joint ventures is included
+as part of the Group's investments in associates or joint
+ventures.
+於聯營公司及合營公司的投資(續)
+合營公司指一種合營安排,對安排擁有共同
+控制權的訂約方據此對合營公司的資產淨值
+擁有權利。共同控制指按照合同協定對一項
+安排所共有的控制,共同控制僅在有關活動
+要求享有控制權的訂約方作出一致同意的決
+定時存在。
+本集團於聯營公司及合營公司的投資乃採用
+權益會計法按本集團應佔的資產淨值減任何
+減值虧損後,在合併財務狀況表中列賬。
+《香港財務報告準則》第9號金融工
+具:澄清實體在評估新的或修改的金
+融負債的條款與原始金融負債的條款
+是否存在實質性差異時所包含的費
+用。該等費用僅包括在借款人與貸
+方之間支付或收取的費用,包括由借
+款人或貸方代表對方支付或收取的費
+用。實體將修訂應用於在實體首次應
+用修訂的年度報告期開始日或之後修
+改或交換的金融負債。該等修訂自二
+零二二年一月一日或之後開始之年度
+期間生效,允許提前應用。該等修訂
+預期不會對本集團的財務報表產生重
+大影響。
+Notes to Financial Statements
+Amendments to HKAS 12
+Annual Report 2021
+二零二一年年報
+2.3 ISSUED BUT NOT YET EFFECTIVE HONG KONG
+FINANCIAL REPORTING STANDARDS
+2.3
+已頒佈惟未生效的《香港財務報告準
+則》
+The Group has not applied the following revised HKFRSS,
+that have been issued but are not yet effective, in these
+financial statements.
+Amendments to HKFRS 3
+Amendments to HKFRS 10
+and HKAS 28 (2011)
+Amendments to HKAS 1
+Amendments to HKAS 1
+and HKFRS Practice
+Statement 2
+Amendments to HKAS 8
+Amendments to HKAS 16
+二零二一年十二月三十一日
+Reference to the Conceptual
+Framework¹
+Classification of Liabilities as
+Current or Non-current2.4
+Disclosure of Accounting
+Policies²
+Definition of Accounting
+Estimates²
+本集團並無於本財務報表應用下列已頒佈但
+尚未生效的經修訂《香港財務報告準則》。
+《香港財務報告準則》 引用概念框架
+第3號的修訂
+《香港財務報告準則》
+第10號及《香港
+會計準則》第28號
+(二零一一年)
+的修訂
+《香港會計準則》
+第1號的修訂
+《香港會計準則》
+投資者與其聯營
+公司或合營公司之
+間的資產出售或注
+資3
+將負債分類為流動或
+非流動2.4
+會計政策的披露²
+會計估計的定義?
+《香港會計準則》
+第12號的修訂
+Sale or Contribution of Assets
+between an Investor and its
+Associate or Joint Venture³
+《香���會計準則》
+第16號的修訂
+31 December 2021
+Notes to Financial Statements
+Annual Report 2021
+二零二一年年報
+119
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+2.2 CHANGES IN ACCOUNTING POLICIES AND 2.2 會計政策及披露的變動(續)
+DISCLOSURES (CONTINUED)
+(a)
+(continued)
+(a)
+(續)
+財務報表附註
+The Group had certain interest-bearing bank
+borrowings denominated in United States dollars
+(b)
+(“LIBOR”) as at 31 December 2021. The Group
+expects that LIBOR will continue to exist and the
+interest rate benchmark reform has not had an
+impact on the Group's LIBOR-based borrowings. If
+the interest rates of these borrowings are replaced
+by RFRs in a future period, the Group will apply
+the above-mentioned practical expedient upon
+the modification of these instruments provided.
+that the “economically equivalent" criterion is met.
+No significant modification gain or loss arises
+as a result of applying the amendments to these
+changes.
+Amendment to HKFRS 16 issued in April 2021
+extends the availability of the practical expedient
+for lessees to elect not to apply lease modification
+accounting for rent concessions arising as a
+direct consequence of the covid-19 pandemic by
+12 months. Accordingly, the practical expedient
+applies to rent concessions for which any reduction
+in lease payments affects only payments originally
+due on or before 30 June 2022, provided the other
+conditions for applying the practical expedient are
+met. The amendment is effective retrospectively for
+annual periods beginning on or after 1 April 2021
+with any cumulative effect of initially applying the
+amendment recognised as an adjustment to the
+opening balance of retained profits at the beginning
+of the current accounting period. Earlier application
+is permitted.
+The Group has early adopted the amendment on 1
+January 2021. However, the Group has not received
+covid-19-related rent concessions and plans to
+apply the practical expedient when it becomes
+applicable within the allowed period of application.
+(b)
+於二零二一年十二月三十一日,本集
+團根據倫敦銀行同業拆息(「倫敦銀行
+同業拆息」),擁有以美元計值的若干
+計息銀行借款。本集團預計倫敦銀行
+同行拆息將會存續,且利率基準改革
+不會對本集團基於倫敦銀行同業拆息
+的借款造成影響。倘該等借款的利率
+在未來期間被無風險利率所替代,本
+集團將在該等工具修訂後採用上述實
+際權宜方法,惟須滿足「經濟等價」
+標準。並無因應用該等變動之修訂而
+產生重大修訂損益。
+於二零二一年四月頒佈的《香港財務
+報告準則》第16號的修訂將承租人可
+選擇就新冠肺炎疫情的直接後果產生
+的租金減免不應用租賃修改會計處理
+的可行權宜方法延期12個月。因此,
+該可行權宜方法適用於租金減免,其
+租賃付款的任何減讓僅影響原先於二
+零二二年六月三十日或之前到期的付
+款,但須滿足適用可行權宜方法的其
+他條件。該修訂於二零二一年四月一
+日或之後開始的年度期間追溯生效,
+最初應用該修訂的任何累積影響在當
+前會計期間開始時確認為對留存溢利
+期初結餘的調整。該準則允許提前應
+用。
+本集團已於二零二一年一月一日提早
+採納該修訂。然而,本集團並未收到
+與新冠肺炎相關的租金減免,並計劃
+於允許應用的期間內,在可行情況下
+應用該可行權宜方法。
+BYD Company Limited
+120
+比亞迪股份有限公司
+based on the London Interbank Offered Rate
+Onerous Contracts - Cost of
+Fulfilling a Contract'
+《香港會計準則》
+第37號的修訂
+31 December 2021
+二零二一年十二月三十一日
+2.3 ISSUED BUT NOT YET EFFECTIVE HONG 2.3
+KONG FINANCIAL REPORTING STANDARDS
+(CONTINUED)
+Further information about those HKFRSS that are expected
+to be applicable to the Group is described below.
+Amendments to HKFRS 3 are intended to replace a
+reference to the previous Framework for the Preparation
+and Presentation of Financial Statements with a reference
+to the Conceptual Framework for Financial Reporting
+issued in June 2018 without significantly changing its
+requirements. The amendments also add to HKFRS 3 an
+exception to its recognition principle for an entity to refer to
+the Conceptual Framework to determine what constitutes
+an asset or a liability. The exception specifies that, for
+liabilities and contingent liabilities that would be within
+the scope of HKAS 37 or HK(IFRIC)-Int_21 if they were
+incurred separately rather than assumed in a business
+combination, an entity applying HKFRS 3 should refer to
+HKAS_37_or_HK(IFRIC)-Int_21 respectively instead of the
+Conceptual Framework. Furthermore, the amendments
+clarify that contingent assets do not qualify for recognition
+at the acquisition date. The Group expects to adopt the
+amendments prospectively from 1 January 2022. Since the
+amendments apply prospectively to business combinations
+for which the acquisition date is on or after the date of
+first application, the Group will not be affected by these
+amendments on the date of transition.
+已頒佈惟未生效的《香港財務報告準
+則》(續)
+有關預期將適用於本集團的該等《香港財務
+報告準則》的進一步資料說明如下。
+《香港財務報告準則》第3號的修訂旨在以二
+零一八年六月頒佈的引用財務報告概念框架
+取代引用先前財務報表編製及呈列框架,而
+毋須大幅度改變其規定。該等修訂亦就《香
+港財務報告準則》第3號就實體引用概念框架
+以釐定構成資產或負債之內容之確認原則增
+設一項例外情況。該例外情況規定,對於可
+能屬於《香港會計準則》第37號或《香港(國
+際財務報告詮釋委員會)-詮釋》第21號範圍
+內的負債及或有負債而言,倘該等負債屬單
+獨產生而非於業務合併中產生,則應用《香
+港財務報告準則》第3號的實體應分別參考
+《香港會計準則》第37號或《香港(國際財務
+報告詮釋委員會)- 詮釋》第21號,而非概念
+框架。此外,該等修訂澄清或有資產於收購
+日期不符合確認條件。本集團預計自二零二
+二年一月一日起提前採納該等修訂。由於該
+等修訂提前適用於收購日期為首次應用日期
+或之後的業務合併,因此本集團於過渡日期
+將不會受該等修訂的影響。
+BYD Company Limited
+122
+財務報表附註
+比亞迪股份有限公司
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+2.3 ISSUED BUT NOT YET EFFECTIVE HONG
+KONG FINANCIAL REPORTING STANDARDS
+2.3
+已頒佈惟未生效的《香港財務報告準
+則》(續)
+(CONTINUED)
+Amendments to HKFRS 10 and HKAS 28 (2011) address an
+inconsistency between the requirements in HKFRS 10 and
+in HKAS 28 (2011) in dealing with the sale or contribution
+of assets between an investor and its associate or joint
+venture. The amendments require a full recognition of a
+gain or loss resulting from a downstream transaction when
+the sale or contribution of assets between an investor
+and its associate or joint venture constitutes a business.
+For a transaction involving assets that do not constitute a
+business, a gain or loss resulting from the transaction is
+recognised in the investor's profit or loss only to the extent
+of the unrelated investor's interest in that associate or joint
+venture. The amendments are to be applied prospectively.
+The previous mandatory effective date of amendments
+to HKFRS 10 and HKAS 28 (2011) was removed by the
+HKICPA in January 2016 and a new mandatory effective
+date will be determined after the completion of a broader
+review of accounting for associates and joint ventures.
+However, the amendments are available for adoption now.
+Amendments to HKAS 1 Classification of Liabilities
+as Current or Non-current clarify the requirements for
+classifying liabilities as current or non-current. The
+amendments specify that if an entity's right to defer
+settlement of a liability is subject to the entity complying
+with specified conditions, the entity has a right to defer
+settlement of the liability at the end of the reporting
+period if it complies with those conditions at that date.
+Classification of a liability is unaffected by the likelihood
+that the entity will exercise its right to defer settlement of
+the liability. The amendments also clarify the situations that
+are considered a settlement of a liability. The amendments
+are effective for annual periods beginning on or after 1
+January 2023 and shall be applied retrospectively. Earlier
+application is permitted. The amendments are not expected
+to have any significant impact on the Group's financial
+statements.
+《香港財務報告準則》第10號及《香港會計準
+則》第28號(二零一一年)的修訂針對《香港
+財務報告準則》第10號與《香港會計準則》第
+28號(二零一一年)之間有關投資者與其聯
+營公司或合營公司之間的資產出售或注資兩
+者規定的不一致性。該等修訂規定,當投資
+者與其聯營公司或合營公司之間的資產出售
+或注資構成一項業務時,須悉數確認下游交
+易的產生的收益或虧損。當交易涉及不構成
+一項業務的資產時,由該交易產生的收益或
+虧損於該投資者的損益內確認,惟僅以不相
+關投資者於該聯營公司或合營公司的權益為
+限。該等修訂即將應用。香港會計師公會已
+於二零一六年一月剔除以往對《香港財務報
+告準則》第10號及《香港會計準則》第28號
+(二零一一年)的修訂的強制生效日期,新的
+強制生效日期將於聯營公司及合營公司會計
+的進一步審閱完成後釐定。然而,該等修訂
+目前可採納。
+《香港會計準則》第1號之修訂「將負債分類
+為流動或非流動」澄清將負債分類為流動或
+非流動的規定。該等修訂指明,倘實體延遲
+償還負債的權利受限於實體符合特定條件,
+則倘該實體符合當日之條件,其有權於報告
+期末延遲償還負債。負債的分類不受該實體
+行使其延遲償還負債權利的可能性的影響。
+該等修訂亦澄清被視為償還負債的情況。該
+等修訂於二零二三年一月一日或之後開始的
+年度期間生效,並應追溯應用。允許提早應
+用。該等修訂預期不會對本集團的財務報表
+產生任何重大影響。
+Notes to Financial Statements
+Notes to Financial Statements
+121
+Annual Report 2021
+二零二一年年報
+虧損性合約 - 履行合
+約的成本
+Amendments to HKFRS 1,
+Deferred Tax related to Assets
+and Liabilities arising from a
+Single Transaction²
+Property, Plant and Equipment:
+Proceeds before Intended
+Use¹
+與單一交易所產生的
+資產及負債有關的
+遞延稅項2
+物業、廠房及設備:
+作擬定用途前之所
+得款項
+Amendments to HKAS 37
+Annual Improvements to
+HKFRSs 2018-2020
+HKFRS 9, Illustrative
+Examples accompanying
+HKFRS 16, and HKAS 411
+《香港財務報告準則》《香港財務報告準則》
+二零一八年至
+二零二零年之
+年度改進
+第1號、《香港財務
+報告準則》第9號、
+《香港財務報告準
+則》第16號相應闡
+釋範例及《香港會
+計準則》第41號的
+修訂
+1
+Effective for annual periods beginning on or after 1
+January 2022
+1
+於二零二二年一月一日或之後開始之年
+度期間生效
+2
+Effective for annual periods beginning on or after 1
+January 2023
+2
+於二零二三年一月一日或之後開始之年
+度期間生效
+3
+No mandatory effective date yet determined but
+available for adoption
+3
+並無釐定強制生效日期,惟可採用
+4
+As a consequence of the amendments to HKAS 1,
+Hong Kong Interpretation 5 Presentation of Financial
+Statements - Classification by the Borrower of a Term
+Loan that Contains a Repayment on Demand Clause
+was revised in October 2020 to align the corresponding
+wording with no change in conclusion
+4
+由於《香港會計準則》第1號、香港詮釋
+第5號財務報表的呈報-借款人對載有
+按要求償還條款的定期貸款的分類於二
+零二零年十月修訂,以使相應的措詞保
+持一致,結論不變
+123
+第1號及《香港財務
+報告準則實務聲明》
+第2號的修訂
+《香港會計準則》
+第8號的修訂
+- 根據估值方法(對公允價值計量
+屬重要的最低水平輸入數據可
+直接或間接觀察)進行計量
+Except for moulds, depreciation is calculated on the
+straight-line basis to write off the cost of each item of
+property, plant and equipment to its residual value over
+"
+或
+Annual Report 2021
+二零二一年年報
+133
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+2.4
+重要會計政策摘要(續)
+POLICIES (CONTINUED)
+Related parties (continued)
+關聯方(續)
+(b) the party is an entity where any of the following
+conditions applies:
+(b)
+該方屬於符合下列任何條件的實體:
+or
+為本集團或本集團母公司的主
+要管理成員;
+(iii)
+is a member of the key management
+personnel of the Group or of a parent of the
+Group;
+減值虧損僅於資產賬面價值超逾可收回金額
+時確認。於評估使用價值時,估計未來現金
+流量按可反映現時市場對貨幣時間價值的評
+估及資產特定風險的税前折現率折現至現
+值。減值虧損於產生期間於損益表內與減值
+資產功能一致的開支類別中扣除。
+於每個報告期末會就是否有任何跡象顯示過
+往確認的減值虧損不再存在或已可能減少作
+出評估。倘存有一種該等跡象,便估計可收
+回金額。除商譽外,僅於釐定資產的可收回
+金額的估計出現變動時,於過往確認的資產
+減值虧損方予以撥回。估計之可收回金額不
+得高於假定過往年度並無就該資產確認任何
+減值虧損所釐定的賬面值(扣除任何折舊/
+攤銷)。減值虧損撥回於產生期間計入損益
+表內。
+Related parties
+A party is considered to be related to the Group if:
+關聯方
+任何一方如屬以下情況,即視為本集團的關
+聯方:
+(a)
+the party is a person or a close member of that
+person's family and that person,
+(i)
+(a)
+(i) has control or joint control over the Group;
+(i)
+控制或共同控制本集團;
+(ii)
+has significant influence over the Group; or
+(ii)
+對本集團有重大影響力;或
+(iii)
+該方為一名人士或該名人士家族的近
+親,而該名人士
+非金融資產減值(續)
+the entity and the Group are members of the
+same group;
+該實體與本集團屬同一集團之
+成員公司;
+(viii)
+a person identified in (a)(i) has significant
+influence over the entity or is a member of
+the key management personnel of the entity
+(or of a parent of the entity); and
+the entity, or any member of a group of
+which it is a part, provides key management
+personnel services to the Group or to the
+parent of the Group.
+(viii) 實體或一間集團之任何成員公
+司(為集團之一部分)向本集
+團或本集團的母公司提供主要
+管理人員服務。
+(vii)
+於(a)(i)項所述人士對該實體
+有重大影響或屬該實體(或該
+實體的母公司)主要管理成
+員;及
+BYD Company Limited
+134
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+重要會計政策摘要(續)
+Property, plant and equipment and depreciation
+(vii)
+該實體由(a)項所述人士控制
+或共同控制;
+(vi)
+the entity is controlled or jointly controlled by
+a person identified in (a);
+(ii)
+one entity is an associate or joint venture of
+the other entity (or of a parent, subsidiary or
+fellow subsidiary of the other entity);
+(ii)
+一間實體為另一實體(或另一
+實體的母公司、附屬公司或同
+系附屬公司)的聯營公司或合
+營公司;
+(iii)
+the entity and the Group are joint ventures of
+the same third party;
+(iii)
+(i)
+該實體及本集團均為同一第三
+方的合營公司;
+one entity is a joint venture of a third entity
+and the other entity is an associate of the
+third entity;
+(iv)
+一間實體為第三方實體的合營
+公司,而另一實體為該第三方
+實體的聯營公司;
+(v)
+the entity is a post-employment benefit plan
+for the benefit of employees of either the
+Group or an entity related to the Group;
+(v)
+該實體為離職後福利計劃,該
+計劃的受益人為本集團或與本
+集團有關聯的實體的僱員;
+(vi)
+(iv)
+An assessment is made at the end of each reporting
+period as to whether there is an indication that previously
+recognised impairment losses may no longer exist or
+I may have decreased. If such an indication exists, the
+recoverable amount is estimated. A previously recognised
+impairment loss of an asset other than goodwill is reversed
+only if there has been a change in the estimates used to
+determine the recoverable amount of that asset, but not to
+an amount higher than the carrying amount that would have
+been determined (net of any depreciation/amortisation) had
+no impairment loss been recognised for the asset in prior
+years. A reversal of such an impairment loss is credited
+to the statement of profit or loss in the period in which it
+arises.
+An impairment loss is recognised only if the carrying
+amount of an asset exceeds its recoverable amount. In
+assessing value in use, the estimated future cash flows are
+discounted to their present value using a pre-tax discount
+rate that reflects current market assessments of the time
+value of money and the risks specific to the asset. An
+impairment loss is charged to the statement of profit or loss
+in the period in which it arises in those expense categories
+consistent with the function of the impaired asset.
+Impairment of non-financial assets (continued)
+31 December 2021
+二零二一年十二月三十一日
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+重要會計政策摘要(續)
+Fair value measurement
+The Group measures its listed equity investments and
+derivative financial instruments at fair value at the end of
+each reporting period. Fair value is the price that would
+be received to sell an asset or paid to transfer a liability in
+an orderly transaction between market participants at the
+measurement date. The fair value measurement is based
+on the presumption that the transaction to sell the asset
+or transfer the liability takes place either in the principal
+market for the asset or liability, or in the absence of a
+principal market, in the most advantageous market for the
+asset or liability. The principal or the most advantageous
+market must be accessible by the Group. The fair value of
+an asset or a liability is measured using the assumptions
+that market participants would use when pricing the asset
+or liability, assuming that market participants act in their
+economic best interest.
+公允價值計量
+本集團於各報告期末以公允價值計量其上市
+權益投資及衍生金融工具。公允價值指市場
+參與者於計量日期在有序交易中出售資產所
+收取或轉讓負債所支付的價格。公允價值計
+量所依據的假設為,出售資產或轉讓負債的
+交易乃於該資產或負債的主要市場進行,或
+如無主要市場,則於對該資產或負債最為有
+利的市場進行。本集團必須可進入該主要或
+最為有利的市場。計量資產或負債的公允價
+值使用市場參與者於為該資產或負債定價時
+所依據的假設,即假設市場參與者按其最佳
+經濟利益行事。
+A fair value measurement of a non-financial asset takes into
+account a market participant's ability to generate economic
+benefits by using the asset in its highest and best use or
+by selling it to another market participant that would use
+the asset in its highest and best use.
+The Group uses valuation techniques that are appropriate
+in the circumstances and for which sufficient data are
+available to measure fair value, maximising the use of
+relevant observable inputs and minimising the use of
+unobservable inputs.
+非金融資產公允價值的計量參考市場參與者
+可從使用該資產得到的最高及最佳效用,或
+把該資產售予另一可從使用該資產得到最高
+及最佳效用的市場參與者所產生的經濟效
+益。
+本集團使用適用於不同情況的估值方法,而
+其有足夠數據計量公允價值,並盡量利用相
+關可觀察輸入數據及盡量減少使用不可觀察
+輸入數據。
+Annual Report 2021
+二零二一年年報
+131
+Notes to Financial Statements
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+130
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+129
+Annual Report 2021
+二零二一年年報
+財務報表附註
+Goodwill is initially measured at cost, being the excess
+of the aggregate of the consideration transferred, the
+amount recognised for non-controlling interests and any
+fair value of the Group's previously held equity interests
+in the acquiree over the identifiable net assets acquired
+and liabilities assumed. If the sum of this consideration
+and other items is lower than the fair value of the assets
+acquired, the difference is, after reassessment, recognised
+in profit or loss as a gain on bargain purchase.
+Impairment is determined by assessing the recoverable
+amount of the cash-generating unit (group of cash-
+generating units) to which the goodwill relates. Where the
+recoverable amount of the cash-generating unit (group of
+cash-generating units) is less than the carrying amount,
+an impairment loss is recognised. An impairment loss
+recognised for goodwill is not reversed in a subsequent
+period.
+Where goodwill has been allocated to a cash-generating
+unit (or group of cash-generating units) and part of the
+operation within that unit is disposed of, the goodwill
+associated with the operation disposed of is included in
+the carrying amount of the operation when determining the
+gain or loss on the disposal. Goodwill disposed of in these
+circumstances is measured based on the relative value
+of the operation disposed of and the portion of the cash-
+generating unit retained.
+業務合併及商譽 (續)
+商譽初步按成本計量,即已轉讓總代價、已
+確認非控股權益及本集團過往持有的被收購
+方股權的公允價值總額,超逾所收購可識別
+資產淨值及所承擔負債的數額。如總代價及
+其他項目的總額低於所收購資產的公允價
+值,於評估後其差額將於損益內確認為議價
+購買收益。
+於初步確認後,商譽按成本減任何累計減值
+虧損計量。商譽須每年作減值測試,若有事
+件發生或情況改變顯示賬面值有可能減值
+時,則會更頻密地進行測試。本集團每年於
+十二月三十一日對商譽進行年度減值測試。
+就減值測試而言,於業務合併所收購的商
+譽,乃自收購日期起分配至預期於合併的協
+同效益中受惠的本集團每個現金產生單位或
+各現金產生單位組,而不論本集團其他資產
+或負債有否轉撥至該等單位或單位組。
+減值按與商譽有關的現金產生單位(現金產
+生單位組)可收回款額進行評估釐定。倘現
+金產生單位(現金產生單位組)的可收回款額
+低於賬面值,則確認減值虧損。就商譽確認
+的減值虧損不會於其後撥回。
+商譽分配至現金產生單位(或現金產生單位
+組),且該單位部分業務出售時,與售出業
+務有關的商譽將計入業務賬面值以釐定出售
+盈虧。於該等情況售出的商譽,按售出業務
+及保留的現金產生單位部分相對價值基準計
+量。
+BYD Company Limited
+After initial recognition, goodwill is measured at cost less
+any accumulated impairment losses. Goodwill is tested
+for impairment annually or more frequently if events or
+changes in circumstances indicate that the carrying
+value may be impaired. The Group performs its annual
+impairment test of goodwill as at 31 December. For the
+purpose of impairment testing, goodwill acquired in
+a business combination is, from the acquisition date,
+allocated to each of the Group's cash-generating units,
+or groups of cash-generating units, that are expected to
+benefit from the synergies of the combination, irrespective
+of whether other assets or liabilities of the Group are
+assigned to those units or groups of units.
+31 December 2021
+二零二一年十二月三十一日
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+consistent basis or, otherwise, to the smallest group of
+cash-generating units.
+第二級
+第三級
+以相同資產或負債的活躍市場
+報價(未經調整)為基礎進行計
+量
+-根據估值方法(對公允價值計量
+屬重要的最低���平輸入數據不
+可觀察)進行計量
+就按經常性基準於財務報表確認的資產及負
+債而言,本集團於各報告期末透過重新評估
+分類(基於對整體公允價值計量屬重要的最
+低水平輸入數據)而確定各等級之間是否已
+進行轉撥。
+非金融資產減值
+倘有跡象顯示出現減值或須就資產進行年
+度減值測試(存貨、合同資產、遞延稅項資
+產、金融資產、投資物業及持作出售已竣工
+物業除外),則會估計資產的可收回金額。
+資產的可收回金額按資產或現金產生單位的
+使用價值與公允價值減出售成本二者之間的
+較高者計算,並就個別資產而釐定,除非有
+關資產並無產生大致獨立於其他資產或資產
+類別的現金流入,在此情況下,可收回金額
+就資產所屬的現金產生單位而釐定。對現金
+產生單位進行減值測試時,倘若公司資產賬
+面值的一部分(例如總部大樓)能夠以合理
+及一致的基準分配,則將其分配至個別現金
+產生單位,或分配至最小組別的現金產生單
+位。
+Where an indication of impairment exists, or when annual
+impairment testing for an asset is required (other than
+inventories, contract assets, deferred tax assets, financial
+assets, investment properties and completed property held
+for sale), the asset's recoverable amount is estimated. An
+asset's recoverable amount is the higher of the asset's
+or cash-generating unit's value in use and its fair value
+less costs of disposal, and is determined for an individual
+asset, unless the asset does not generate cash inflows
+that are largely independent of those from other assets or
+groups of assets, in which case the recoverable amount is
+determined for the cash-generating unit to which the asset
+belongs. In testing a cash-generating unit for impairment,
+a portion of the carrying amount of a corporate asset (e.g.,
+a headquarters building) is allocated to an individual cash-
+generating unit if it can be allocated on a reasonable and
+BYD Company Limited
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+重要會計政策摘要(續)
+132
+Property, plant and equipment, other than construction in
+progress, are stated at cost less accumulated depreciation
+and any impairment losses. The cost of an item of property,
+plant and equipment comprises its purchase price and
+any directly attributable costs of bringing the asset to
+its working condition and location for its intended use.
+Expenditure incurred after items of property, plant and
+equipment have been put into operation, such as repairs
+and maintenance, is normally charged to the statement
+of profit or loss in the period in which it is incurred. In
+situations where the recognition criteria are satisfied, the
+expenditure for a major inspection is capitalised in the
+carrying amount of the asset as a replacement. Where
+significant parts of property, plant and equipment are
+required to be replaced at intervals, the Group recognises
+such parts as individual assets with specific useful lives
+and depreciates them accordingly.
+Impairment of non-financial assets
+lowest level input that is significant to the fair value
+2.4
+重要會計政策摘要(續)
+Fair value measurement (continued)
+All assets and liabilities for which fair value is measured
+or disclosed in the financial statements are categorised
+within the fair value hierarchy, described as follows, based
+on the lowest level input that is significant to the fair value
+measurement as a whole:
+Level 1
+-
+based on quoted prices (unadjusted) in active
+markets for identical assets or liabilities
+公允價值計量(續)
+measurement as a whole) at the end of each reporting
+period.
+於財務報表中以公允價值確認或披露的所有
+資產及負債,均以對整體公允價值計量屬重
+要的最低水平輸入數據為基礎以公允價值等
+級分類如下:
+-
+Level 2
+-
+Level 3
+-
+based on valuation techniques for which the
+lowest level input that is significant to the
+fair value measurement is observable, either
+directly or indirectly
+based on valuation techniques for which the
+lowest level input that is significant to the fair
+value measurement is unobservable
+For assets and liabilities that are recognised in the financial
+statements on a recurring basis, the Group determines
+whether transfers have occurred between levels in the
+hierarchy by reassessing categorisation (based on the
+第一級
+重要會計政策摘要(續)
+Business combinations and goodwill (continued)
+物業、廠房及設備和折舊
+開發新產品項目所產生的開支僅在下列情況
+下資本化並作遞延處理:本集團可確定完成
+該項無形資產以作使用或出售用途在技術上
+為可行;本集團有意完成該項無形資產,並
+能夠使用或出售該項資產;本集團可證明該
+項資產日後將如何產生經濟利益;完成該項
+目的可用資源充足;以及有能力在開發過程
+中可靠地計量開支。不符合此等標準的產品
+開發開支在產生時支銷。
+遞延開發成本按成本減任何減值虧損列賬。
+開發成本採用直線法在相關產品投入商業生
+產之日起不超過十年的使用年限內攤銷,惟
+新能源汽車自產品投入商業生產日期開始採
+用單位生產法攤銷。
+工業產權
+工業產權按成本減任何減值虧損列賬,並按
+直線法於其估計可使用年限二至十年內攤
+銷。
+技術
+技術按成本減任何減值虧損列賬,並按直線
+法於其估計可使用年期一到五年內攤銷。
+軟件
+軟件按成本減任何減值虧損列賬,並按直線
+法於其估計可使用年期一到五年內攤銷。
+BYD Company Limited
+138
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+所有研究成本均於產生時自損益表扣除。
+研究與開發成本
+無形資產(商譽除外)(續)
+Software is stated at cost less any impairment losses and
+is amortised on the straight-line basis over its estimated
+useful life of one to five years.
+31 December 2021
+二零二一年十二月三十一日
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+重要會計政策摘要(續)
+Intangible assets (other than goodwill) (continued)
+its estimated useful life. The estimated useful lives and
+residual value are as follows:
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+All research costs are charged to the statement of profit or
+loss as incurred.
+Deferred development costs are stated at cost less any
+impairment losses. The development costs are amortised
+using the straight-line basis over the commercial lives of
+the underlying products not exceeding ten years, except
+for those of new energy vehicles which are amortised using
+the unit-of-production method, commencing from the date
+when the products are put into commercial production.
+Industrial proprietary rights
+Industrial proprietary rights are stated at cost less any
+impairment losses and are amortised on the straight-line
+basis over their estimated useful lives of two to ten years.
+Know-how
+Know-how is stated at cost less any impairment losses and
+is amortised on the straight-line basis over its estimated
+useful life of one to five years.
+Software
+Expenditure incurred on projects to develop new products
+is capitalised and deferred only when the Group can
+demonstrate the technical feasibility of completing the
+intangible asset so that it will be available for use or sale,
+its intention to complete and its ability to use or sell the
+asset, how the asset will generate future economic benefits,
+the availability of resources to complete the project and
+the ability to measure reliably the expenditure during the
+development. Product development expenditure which
+does not meet these criteria is expensed when incurred.
+財務報表附註
+2.4
+Leases
+樓宇
+1 to 5 years
+機器及其他設備
+1至20年
+1至5年
+If ownership of the leased asset transfers to
+the Group by the end of the lease term or the
+cost reflects the exercise of a purchase option,
+depreciation is calculated using the estimated
+useful life of the asset.
+倘租賃資產的所有權於租賃期結束前
+轉移至本集團或成本反映購買選擇權
+的行使,折舊則以資產的估計可使用
+年期計算。
+31 December 2021
+二零二一年十二月三十一日
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+重要會計政策摘要(續)
+Property, plant and equipment and depreciation
+(continued)
+物業、廠房及設備和折舊(續)
+The unit of production method is used to write off the cost
+of moulds.
+1 to 20 years
+30至99年
+租賃土地
+30 to 99 years
+The Group assesses at contract inception whether a
+contract is, or contains, a lease. A contract is, or contains,
+a lease if the contract conveys the right to control the use
+of an identified asset for a period of time in exchange for
+consideration.
+Group as a lessee
+The Group applies a single recognition and measurement
+approach for all leases, except for short-term leases and
+leases of low-value assets. The Group recognises lease
+liabilities to make lease payments and right-of-use assets
+representing the right to use the underlying assets.
+(a) Right-of-use assets
+Right-of-use assets are recognised at the
+commencement date of the lease (that is the date
+the underlying asset is available for use). Right-
+of-use assets are measured at cost, less any
+accumulated depreciation and any impairment
+losses, and adjusted for any remeasurement of
+lease liabilities. The cost of right-of-use assets
+includes the amount of lease liabilities recognised,
+initial direct costs incurred, and lease payments
+made at or before the commencement date less any
+lease incentives received. Right-of-use assets are
+depreciated on a straight-line basis over the shorter
+of the lease terms and the estimated useful lives of
+the assets as follows:
+Leasehold land
+重要會計政策摘要(續)
+Buildings
+租賃
+本集團於合同開始時評估合同是否屬於或包
+含租賃。倘合同為換取代價而給予可在一段
+時間內控制使用可識別資產的權利,則該合
+同屬於或包含租賃。
+本集團作為承租人
+本集團就所有租賃採用單一確認及計量方
+法,惟短期租賃及低價值資產租賃除外。本
+集團確認租賃付款的租賃負債及使用權資產
+(即使用相關資產的權利)。
+(a)
+使用權資產
+於租賃開始日期(即相關資產可供使
+用的日期)確認使用權資產。使用權
+資產按成本計量,扣除任何累計折舊
+及任何減值虧損,並就重新計量租賃
+負債作出調整。使用權資產的成本包
+括已確認的租賃負債金額、已發生的
+初始直接成本、以及於開始日期或之
+前作出的租賃款項付款減已收取的租
+賃優惠。使用權資產按直線基準於租
+賃期及該資產的估計可使用年期兩者
+中較短者折舊如下:
+Machinery and other equipment
+Notes to Financial Statements
+Research and development costs
+Annual Report 2021
+二零二一年年報
+10至70年
+Over the shorter of the lease terms and
+5 years
+5 to 12 years
+0%-5%
+0%至5%
+於租賃年期內或5年(以較短者為準)
+10 to 70 years
+0%-5%
+137
+0%至5%
+5至12年
+3 to 5 years
+3至5年
+5 years and below
+5年及以下
+0%-5%
+0%至5%
+0%至5%
+並無折舊
+Office equipment and fixtures
+物業、廠房及設備(在建工程除外)乃按成本
+值減累計折舊及任何減值虧損列賬。物業、
+廠房及設備項目的成本指其購買價及使資產
+達到可使用狀況及運送至其計劃中使用地點
+的任何直接應佔成本。物業、廠房及設備項
+目開始運作後產生的開支,例如維修保養的
+成本,一般於產生期內在損益表中列支。在
+達到確認標準的情況下,主要檢測所產生的
+開支在資產賬面值中資本化為重置。倘大部
+分物業、廠房及設備須不時重置,則本集團
+會將有關部分確認為具特定使用年期的個別
+資產並會作出相應折舊。
+除模具外,每項物業、廠房及設備項目的折
+舊乃以直線法按其估計可使用年期攤銷其成
+本至其剩餘價值計算。估計可使用年期及剩
+餘價值如下:
+Estimated useful lives
+估計可使用年期
+Not depreciated
+Residual value
+剩餘價值
+辦公室設備及傢俱
+Freehold land
+Buildings
+樓宇
+Leasehold improvements
+租賃物業裝修
+Machinery and equipment (except moulds)
+機器及設備(模具除外)
+Motor vehicles
+車輛
+永久業權土地
+Annual Report 2021
+二零二一年年報
+0%-5%
+Notes to Financial Statements
+Investment properties
+Investment properties are interests in land and buildings
+held to earn rental income and/or for capital appreciation,
+rather than for use in the production or supply of goods or
+services or for administrative purposes; or for sale in the
+ordinary course of business. Such properties are measured
+at cost, including transaction costs, less any depreciation
+and any losses.
+Depreciation is calculated on the straight-line basis to write
+off the cost of each item of investment properties to its
+residual value over its estimated useful life. The principal
+annual rates used for this purpose as follows:
+投資性房地產
+投資性房地產乃為賺取租金收入及/或資本
+增值而持有的土地及樓宇權益,而非用於生
+產或供應貨品或服務或用作行政用途;或用
+作在日常業務過程中銷售。投資性房地產按
+照扣除任何折舊及任何虧損的成本(包括交
+易成本)計量。
+各項投資性房地產的折舊乃以直線法按其估
+計可使用年期攤銷其成本至其剩餘價值計
+算。就此採用的主要年率如下:
+135
+重要會計政策摘要(續)
+1.4% to 9.5%
+1.4% 9.5%
+Any gains or losses on the retirement or disposal of an
+investment property are recognised in the statement of
+profit or loss in the year of the retirement or disposal.
+Intangible assets (other than goodwill)
+Intangible assets acquired separately are measured on
+initial recognition at cost. The cost of intangible assets
+acquired in a business combination is the fair value at the
+date of acquisition. The useful lives of intangible assets are
+assessed to be either finite or indefinite. Intangible assets
+with finite lives are subsequently amortised over the useful
+economic life and assessed for impairment whenever there
+is an indication that the intangible asset may be impaired.
+The amortisation period and the amortisation method for an
+intangible asset with a finite useful life are reviewed at least
+at each financial year end.
+因投資性房地產報廢或出售而產生的任何收
+益或虧損於報廢或出售年度的損益表內確
+認。
+無形資產(商譽除外)
+單獨收購的無形資產於初步確認時按成本計
+量。業務合併中所收購無形資產的成本為收
+購日期的公允價值。無形資產的可使用年期
+乃評估為有限或無限。具有限年期的無形資
+產其後於可使用經濟年期攤銷,並於該無形
+資產出現減值跡象時作減值評估。具有限可
+使用年期的無形資產的攤銷年期及攤銷方法
+須至少於每個財政年度年底審核。
+樓宇
+2.4
+Buildings
+二零二一年十二月三十一日
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+Where parts of an item of property, plant and equipment
+have different useful lives, the cost of that item is allocated
+on a reasonable basis among the parts and each part
+is depreciated separately. Residual values, useful lives
+and depreciation methods are reviewed, and adjusted if
+appropriate, at least at each financial year end.
+財務報表附註
+An item of property, plant and equipment including any
+significant part initially recognised is derecognised upon
+disposal or when no future economic benefits are expected
+from its use or disposal. Any gain or loss on disposal or
+retirement recognised in the statement of profit or loss
+in the year the asset is derecognised is the difference
+between the net sales proceeds and the carrying amount
+of the relevant asset.
+模具成本以生產單位法攤銷。
+包括已初步確認的任何重要部分的物業、廠
+房及設備項目於被出售或預計其使用或出售
+不再產生未來經濟利益時終止確認。於資產
+終止確認年度因其出售或報廢並在損益表確
+認的任何盈虧乃有關資產的出售所得款項淨
+額與賬面值的差額。
+Construction in progress representing property and plant
+under construction is stated at cost less any impairment
+losses, and is not depreciated. Cost comprises the direct
+costs of construction and capitalised borrowing costs on
+related borrowed funds during the period of construction.
+Construction in progress is reclassified to the appropriate
+category of property, plant and equipment when completed
+and ready for use.
+倘物業、廠房及設備項目各部分的可使用年
+期並不相同,該項目各部分的成本將按合理
+基礎分配,而每部分將個別折舊。剩餘價
+值、可使用年期及折舊方法至少於各財政年
+度年底審核,並在適當情況下加以調整。
+BYD Company Limited
+136
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+在建工程指在建中的物業及廠房,以成本減
+任何減值虧損列賬,且並未計算折舊。成本
+包括於興建期間的直接建築成本及有關借款
+的資本化借款成本。在建工程在竣工及達到
+可使用狀況時重新歸類至適當的物業、廠房
+及設備類別。
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+146
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+2.4
+increase in credit risk since initial recognition, a loss.
+allowance is required for credit losses expected over the
+remaining life of the exposure, irrespective of the timing of
+the default (a lifetime ECL).
+Impairment of financial assets
+The Group recognises an allowance for expected credit
+losses ("ECLS") for all debt instruments not held at fair
+value through profit or loss. ECLs are based on the
+difference between the contractual cash flows due in
+accordance with the contract and all the cash flows that the
+Group expects to receive, discounted at an approximation
+of the original effective interest rate. The expected cash
+flows will include cash flows from the sale of collateral
+held or other credit enhancements that are integral to the
+contractual terms.
+金融資產減值
+本集團確認對並非持作以公允價值計量並計
+入損益的所有債務工具的預期信貸虧損(「預
+期信貸虧損」)的一項撥備。預期信貸虧損
+乃基於根據合同到期的合同現金流量與本集
+團預期收取的所有現金流量之間的差額而釐
+定,並以原實際利率的近似值折現。預期現
+金流量將包括出售所持抵押的現金流量或組
+成合同條款的其他信貸提升措施的現金流
+量
+。
+General approach
+ECLS are recognised in two stages. For credit exposures
+for which there has not been a significant increase in credit
+risk since initial recognition, ECLs are provided for credit
+losses that result from default events that are possible
+within the next 12 months (a 12-month ECL). For those
+credit exposures for which there has been a significant
+At each reporting date, the Group assesses whether
+the credit risk on a financial instrument has increased
+significantly since initial recognition. When making the
+assessment, the Group compares the risk of a default
+occurring on the financial instrument as at the reporting
+date with the risk of a default occurring on the financial
+instrument as at the date of initial recognition and
+considers reasonable and supportable information that is
+available without undue cost or effort, including historical
+and forward-looking information.
+重要會計政策摘要(續)
+Stage 2
+於初步確認時,本集團可選擇於股本投資符
+合《香港會計準則》第32號金融工具:呈列項
+下股本的定義及並非持作買賣時,將其股本
+投資不可撤回地分類為以公允價值計量並計
+入其他綜合收益的股本投資。分類乃按個別
+工具基準釐定。
+本集團已轉讓其收取來自該資產的現
+金流量的權利,或已根據「轉遞」安
+排就向第三者承擔責任全數支付已
+收取現金流量,且無重大延誤,並
+且(a)本集團已轉讓該資產的絕大部
+分風險及回報,或(b)本集團並無轉
+讓或保留該資產的絕大部分風險及回
+報,惟已轉讓該資產的控制權。
+比亞迪股份有限公司
+140
+BYD Company Limited
+計算租賃付款的現值時,由於租賃中
+所隱含的利率不易釐定,故本集團於
+租賃開始日期使用其遞增借貸利率。
+於開始日期後,租賃負債金額增加,
+以反映利息的增加及所作出的租賃付
+款減少。此外,倘存在修改、租期變
+動、租賃付款變動(例如:由指數或
+比率變動引起的未來租賃付款變動)
+或購買相關資產的選擇權的評估變
+動,則重新計量租賃負債的賬面值。
+於租賃開始日期按租賃期內將予作出
+的租賃付款現值確認租賃負債。租賃
+付款包括固定付款(包括實質固定付
+款)減任何應收租賃優惠,取決於指
+數或比率的可變租賃付款及預期根據
+剩餘價值擔保將予支付的金額。租賃
+付款亦包括本集團合理確定行使的購
+買選擇權的行使價,並且倘租賃期反
+映本集團行使終止租賃選擇權,則須
+就終止租賃支付罰款。不取決於某一
+指數或比率的可變租賃付款於觸發付
+款的事件或狀況出現期間確認為開
+支。
+租賃負債
+(b)
+from a change in an index or rate) or a change in
+assessment of an option to purchase the underlying
+asset.
+In calculating the present value of lease payments,
+the Group uses its incremental borrowing rate at
+the lease commencement date because the interest
+rate implicit in the lease is not readily determinable.
+After the commencement date, the amount of lease
+liabilities is increased to reflect the accretion of
+interest and reduced for the lease payments made.
+In addition, the carrying amount of lease liabilities
+is remeasured if there is a modification, a change
+in the lease term, a change in lease payments
+(e.g., a change to future lease payments resulting
+Lease liabilities are recognised at the
+commencement date of the lease at the present
+value of lease payments to be made over the lease
+term. The lease payments include fixed payments
+(including in-substance fixed payments) less
+any lease incentives receivable, variable lease
+payments that depend on an index or a rate, and
+amounts expected to be paid under residual value
+guarantees. The lease payments also include the
+exercise price of a purchase option reasonably
+certain to be exercised by the Group and payments
+of penalties for termination of a lease, if the lease
+term reflects the Group exercising the option to
+terminate the lease. The variable lease payments
+that do not depend on an index or a rate are
+recognised as an expense in the period in which the
+event or condition that triggers the payment occurs.
+(b) Lease liabilities
+Group as a lessee (continued)
+本集團作為承租人(續)
+租賃(續)
+Leases (continued)
+POLICIES (CONTINUED)
+重要會計政策摘要(續)
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+2.4
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+一般方式
+預期信貸虧損分兩個階段確認。就初始確認
+以來信貸風險並無大幅增加的信貸敞口而
+言,會為未來12個月內(12個月預期信貸虧
+損)可能發生的違約事件所產生的信貸虧損
+計提預期信貸虧損撥備。就初始確認以來信
+貸風險大幅增加的信貸敞口而言,須就預期
+於敞口的餘下年期產生的信貸虧損計提減值
+撥備,不論違約的時間(年限內預期信貸虧
+損)。
+Notes to Financial Statements
+於各報告日期,本集團評估於初始確認時金
+融工具的信貸風險是否顯著增加。於進行評
+估時,本集團將金融工具於報告日期發生的
+違約風險與金融工具於初始確認日期發生的
+違約風險進行比較,並考慮無需過多成本或
+努力即可得之合理且可證明的資料,包括歷
+史及前瞻性資料。
+財務報表附註
+二零二一年十二月三十一日
+短期租賃及低價值資產租賃的租賃付
+款於租期內按直線法確認為開支。
+本集團將短期租賃(即租期自開始日
+期起計為期12個月或以內並不包含購
+買選擇權的租賃)應用短期租賃確認
+豁免。其亦對被認為屬低價值的辦公
+設備及筆記本電腦的租賃應用低價值
+資產租賃確認豁免。
+incidental to ownership of an underlying asset to the lessee
+are accounted for as finance leases.
+Leases that transfer substantially all the risks and rewards
+in the period in which they are earned.
+rental income. Contingent rents are recognised as revenue
+Leases in which the Group does not transfer substantially
+all the risks and rewards incidental to ownership of
+an asset are classified as operating leases. When a
+contract contains lease and non-lease components, the
+Group allocates the consideration in the contract to each
+component on a relative stand-alone selling price basis.
+Rental income is accounted for on a straight-line basis over
+the lease terms and is included in revenue in the statement
+of profit or loss due to its operating nature. Initial direct
+costs incurred in negotiating and arranging an operating
+lease are added to the carrying amount of the leased asset
+and recognised over the lease term on the same basis as
+When the Group acts as a lessor, it classifies at lease
+inception (or when there is a lease modification) each of its
+leases as either an operating lease or a finance lease.
+Group as a lessor
+a straight-line basis over the lease term.
+low-value assets are recognised as an expense on
+Lease payments on short-term leases and leases of
+The Group applies the short-term lease recognition
+exemption to its short-term leases (that is those
+leases that have a lease term of 12 months or less
+from the commencement date and do not contain
+a purchase option). It also applies the recognition
+exemption for leases of low-value assets to leases
+of office equipment and laptop computers that are
+considered to be of low value.
+(c)
+短期租賃及低價值資產租賃
+(c)
+Short-term leases and leases of low-value assets
+本集團作為承租人(續)
+Group as a lessee (continued)
+租賃(續)
+Leases (continued)
+POLICIES (CONTINUED)
+重要會計政策摘要(續)
+2.4
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+31 December 2021
+Annual Report 2021
+二零二一年年報
+147
+Notes to Financial Statements
+就包含重大融資成分的應收貿易賬款及合同
+資產以及應收租賃款項而言,本集團所選擇
+之會計政策為採用簡化方法按上述政策計算
+預期信貸虧損。
+就不包含顯著融資組成部分或倘本集團應用
+不調整顯著融資組成部分影響的實際權宜方
+法的應收貿易賬款,本集團應用簡化法計算
+預期信貸虧損。根據簡化法,本集團並無追
+蹤信貸風險的變動,反而於各報告日期根據
+年限內預期信貸虧損確認虧損撥備。本集團
+已根據其以往信貸虧損經驗,建立撥備矩
+陣,並就債務人及經濟環境的特定前瞻性因
+素作出調整。
+·金融資產於報告日期為信貸減
+值(惟其並非購買或原已發生信
+貸減值的金融工具),且虧損撥
+備按相等於年限內預期信貸虧
+損金額計量
+·金融工具的信貸風險自初步確
+認後顯著增加,惟其並非已發
+生信貸減值的金融資產,且虧
+損撥備按相等於年限內預期信
+貸虧損金額計量
+-
+簡化法
+階段3
+階段2
+-金融工具的信貸風險自初步確
+認後並未顯著增加,且虧損撥
+備按相等於12個月預期信貸虧
+損金額計量
+階段1
+一般方式(續)
+金融資產減值(續)
+simplified approach in calculating ECLs with policies as
+described above.
+the Group chooses as its accounting policy to adopt the
+significant financing component and lease receivables,
+For trade receivables and contract assets that contain a
+the simplified approach in calculating ECLs. Under the
+simplified approach, the Group does not track changes in
+credit risk, but instead recognises a loss allowance based
+on lifetime ECLs at each reporting date. The Group has
+established a provision matrix that is based on its historical
+credit loss experience, adjusted for forward-looking factors
+specific to the debtors and the economic environment.
+significant financing component, the Group applies
+For trade receivables that do not contain a significant
+financing component or when the Group applies the
+practical expedient of not adjusting the effect of a
+Simplified approach
+Financial assets that are credit-impaired at
+the reporting date (but that are not purchased
+or originated credit-impaired) and for which
+the loss allowance is measured at an amount
+equal to lifetime ECLS
+Financial instruments for which credit risk has
+increased significantly since initial recognition
+but that are not credit-impaired financial
+assets and for which the loss allowance is
+measured at an amount equal to lifetime ECLS
+Financial instruments for which credit risk
+has not increased significantly since initial
+recognition and for which the loss allowance
+is measured at an amount equal to 12-month
+ECLS
+-
+Stage 3
+持續參與指就已轉讓資產作出的一項擔保,
+按該項資產的原賬面值與本集團或須償還的
+最高代價的較低者計量。
+General approach (continued)
+Impairment of financial assets (continued)
+重要會計政策摘要(續)
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+重要會計政策摘要(續)
+Impairment of financial assets (continued)
+General approach (continued)
+For receivables financing, the Group applies the low credit
+risk simplification. At each reporting date, the Group
+evaluates whether the receivables financing is considered
+to have low credit risk using all reasonable and supportable
+information that is available without undue cost or effort. In
+making that evaluation, the Group reassesses the external
+credit ratings of the receivables financing. In addition, the
+Group considers that there has been a significant increase
+in credit risk when contractual payments are past due.
+The Group considers a financial asset in default when
+contractual payments are 90 days past due. However, in
+certain cases, the Group may also consider a financial
+asset to be in default when internal or external information
+indicates that the Group is unlikely to receive the
+outstanding contractual amounts in full before taking into
+account any credit enhancements held by the Group. A
+financial asset is written off when there is no reasonable
+expectation of recovering the contractual cash flows.
+Receivables financing and financial assets at amortised
+cost are subject to impairment under the general approach
+and they are classified within the following stages for
+measurement of ECLs except for trade receivables and
+contract assets which apply the simplified approach as
+detailed below.
+本集團作為出租人
+金融資產減值(續)
+就應收款項融資而言,本集團應用低信貸風
+險簡化法。於各報告日期,本集團運用一切
+毋須花費不必要成本或精力即可得之合理且
+可證明的資料,評估應收款項融資是否被視
+為具有低信貸風險。於評估時,本集團重新
+評估應收款項融資的外部信貸評級。此外,
+倘合同款項逾期未還款,則本集團認為信貸
+風險大幅上升。
+倘合同款項已逾90日未還款,則本集團認為
+金融資產違約。然而,在若干情況下,倘內
+部或外部資料反映,在計及本集團持有的任
+何信貸提升措施前,本集團不大可能悉數收
+取未償還合同款項,則本集團亦可認為金融
+資產違約。倘無法合理預期收回合同現金流
+量,則撇銷金融資產。
+應收款項融資及以攤銷成本計量的金融資產
+根據一般方式須予減值,並按以下為計量預
+期信貸虧損的階段分類,惟應用簡化法(於
+下文詳述)的應收貿易賬款及合同資產除外。
+BYD Company Limited
+148
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+一般方式(續)
+倘若已轉讓其自資產收取現金流量的權利或
+訂立轉遞安排,本集團會評估其有否保留該
+資產所有權的風險及回報以及其程度。當並
+無轉讓或保留該資產的絕大部分風險及回
+報,亦無轉讓該資產的控制權,則本集團繼
+續按其持續參與該資產的程度確認已轉讓資
+產。就此而言,本集團亦將確認相關負債。
+已轉讓資產及相關負債的計量基準反映本集
+團保留的權利及責任。
+當本集團作為出租人時,於租賃開始時(或
+發生租賃修改時)將其各項租賃分類為經營
+租賃或融資租賃。
+將相關資產所有權所附帶的絕大部分風險及
+回報轉讓予承租人的租賃入賬列作融資租
+賃。
+This category includes derivative instruments and equity
+investments which the Group had not irrevocably elected
+to classify at fair value through other comprehensive
+income. Dividends on equity investments classified as
+financial assets at fair value through profit or loss are also
+recognised as other income in the statement of profit or
+loss when the right of payment has been established, it
+is probable that the economic benefits associated with
+the dividend will flow to the Group and the amount of the
+dividend can be measured reliably.
+Financial assets at fair value through profit or loss are
+carried in the statement of financial position at fair value
+with net changes in fair value recognised in the statement
+of profit or loss.
+Financial assets at fair value through profit or loss
+Investments and other financial assets (continued)
+重要會計政策摘要(續)
+2.4
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+144
+BYD Company Limited
+該等金融資產的收益及虧損概不會被重新計
+入損益表。當支付權確立、與股息有關之經
+濟利益可能流入本集團且股息金額能夠可靠
+計量時,股息於損益表中確認為其他收入,
+惟當本集團於作為收回金融資產一部分成本
+的所得款項中獲益時則除外,於此等情況
+下,該等收益於其他綜合收益入賬。以公允
+價值計入其他綜合收益的股本投資不受減值
+評估影響。
+Stage 1
+指定以公允價值計量並計入其他綜合收益的
+金融資產(股本工具)
+就應收款項融資而言,利息收入、匯兌重估
+及減值虧損或撥回於損益表中確認,並按與
+以攤銷成本計量的金融資產相同的方式計
+量。其餘公允價值變動於其他綜合收益中確
+認。終止確認時,於其他綜合收益中確認的
+累計公允價值變動將重新計入損益表。
+以公允價值計量並計入其他綜合收益的金融
+資產(債務工具)
+投資及其他金融資產 (續)
+Gains and losses on these financial assets are never
+recycled to the statement of profit or loss. Dividends are
+recognised as other income in the statement of profit or
+loss when the right of payment has been established, it
+is probable that the economic benefits associated with
+the dividend will flow to the Group and the amount of
+the dividend can be measured reliably, except when the
+Group benefits from such proceeds as a recovery of part
+of the cost of the financial asset, in which case such gains
+are recorded in other comprehensive income. Equity
+investments at fair value through other comprehensive
+income are not subject to impairment assessment.
+Upon initial recognition, the Group can elect to classify
+irrevocably its equity investments as equity investments
+at fair value through other comprehensive income when
+they meet the definition of equity under HKAS 32 Financial
+Instruments: Presentation and are not held for trading. The
+classification is determined on an instrument-by-instrument
+basis.
+Financial assets designated at fair value through other
+comprehensive income (equity investments)
+For receivables financing, interest income, foreign
+exchange revaluation and impairment losses or reversals
+are recognised in the statement of profit or loss and
+computed in the same manner as for financial assets
+measured at amortised cost. The remaining fair value
+changes are recognised in other comprehensive income.
+Upon derecognition, the cumulative fair value change
+recognised in other comprehensive income is recycled to
+the statement of profit or loss.
+Financial assets at fair value through other comprehensive
+income (debt instruments)
+A derivative embedded in a hybrid contract, with a
+financial liability or non-financial host, is separated from
+the host and accounted for as a separate derivative if the
+economic characteristics and risks are not closely related
+to the host; a separate instrument with the same terms
+as the embedded derivative would meet the definition of
+a derivative; and the hybrid contract is not measured at
+fair value through profit or loss. Embedded derivatives
+are measured at fair value with changes in fair value
+recognised in the statement of profit or loss. Reassessment
+only occurs if there is either a change in the terms of the
+contract that significantly modifies the cash flows that
+would otherwise be required or a reclassification of a
+financial asset out of the fair value through profit or loss
+category.
+Investments and other financial assets (continued)
+A derivative embedded within a hybrid contract containing
+a financial asset host is not accounted for separately. The
+financial asset host together with the embedded derivative
+投資及其他金融資產(續)
+自該資產收取現金流量的權利已屆
+滿;或
+金融資產(或如適用,金融資產其中一部分
+或一組類近金融資產其中部分)主要在下列
+情況下終止確認(即自本集團的合併財務狀
+況表移除):
+終止確認金融資產
+Continuing involvement that takes the form of a guarantee
+over the transferred asset is measured at the lower of the
+original carrying amount of the asset and the maximum
+amount of consideration that the Group could be required
+to repay.
+When the Group has transferred its rights to receive cash
+flows from an asset or has entered into a pass-through
+arrangement, it evaluates if, and to what extent, it has
+retained the risk and rewards of ownership of the asset.
+When it has neither transferred nor retained substantially all
+the risks and rewards of the asset nor transferred control of
+the asset, the Group continues to recognise the transferred
+asset to the extent of the Group's continuing involvement.
+In that case, the Group also recognises an associated
+liability. The transferred asset and the associated liability
+are measured on a basis that reflects the rights and
+obligations that the Group has retained.
+the Group has transferred its rights to receive cash
+flows from the asset or has assumed an obligation.
+to pay the received cash flows in full without
+material delay to a third party under a "pass-
+through”arrangement; and either (a) the Group has
+transferred substantially all the risks and rewards of
+the asset, or (b) the Group has neither transferred
+nor retained substantially all the risks and rewards
+of the asset, but has transferred control of the asset.
+the rights to receive cash flows from the asset have
+expired; or
+consolidated statement of financial position) when:
+primarily derecognised (i.e.,removed from the Group's
+A financial asset (or, where applicable, a part of a financial
+asset or part of a group of similar financial assets) is
+Derecognition of financial assets
+重要會計政策摘要(續)
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+145
+Annual Report 2021
+二零二一年年報
+混合合同內之含有金融資產主體的嵌入式衍
+生工具並不會獨立列賬。金融資產主體連同
+嵌入式衍生工具整體須分類為以公允價值計
+量並計入損益的金融資產。
+倘經濟特點及風險並無密切與主體關連,混
+合合同內之含有金融負債或非金融主體的嵌
+入式衍生工具可與主體分開處理及入賬作獨
+立衍生工具;另一項與該嵌入式衍生工具的
+條款相同的獨立工具符合衍生工具的定義;
+及混合合同並不是以公允價值計量並計入損
+益計量。嵌入式衍生工具以公允價值計量,
+而公允價值變動則於損益表確認。重新評估
+僅在合同條款出現變動致使現金流量出現大
+幅修改或重新分類後金融資產不再屬於以公
+允價值計量並計入損益類別時作出。
+該類別包括本集團並無不可撤銷地選擇以公
+允價值計量並計入其他綜合收益進行分類的
+衍生工具及股本投資。分類為以公允價值計
+量並計入損益之股本投資的股息在支付權確
+立、與股息有關之經濟利益可能流入本集團
+且股息金額能夠可靠計量時,亦於損益表中
+確認為其他收入。
+以公允價值計量並計入損益的金融資產乃以
+公允價值於財務狀況表列賬,並將公允價值
+的變動淨額於損益表確認。
+以公允價值計量並計入損益的金融資產
+is required to be classified in its entirety as a financial
+asset at fair value through profit or loss.
+重要會計政策摘要(續)
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+142
+BYD Company Limited
+為使金融資產以攤銷成本或以公允價值計量
+並計入其他綜合收益進行分類及計量,需產
+生僅為支付本金及未償還本金利息(「SPPI」)
+的現金流量。現金流量並非SPPI的金融資產
+以公允價值計量並計入損益分類及計量,不
+論其業務模式如何。
+金融資產於初始確認時之分類乃視乎該等金
+融資產的合同現金流量特點及本集團管理該
+等金融資產的業務模式而定。除並不包含重
+大融資成分或本集團已就此應用不調整重大
+融資成分影響的實際權宜方法之應收貿易賬
+款外,本集團初始以公允價值加上(倘金融
+資產並非以公允價值計量並計入損益)交易
+成本計量金融資產。並不包含重大融資成分
+或本集團已應用實際權宜方法之應收貿易賬
+款,乃按根據《香港財務報告準則》第15號按
+下文「收入確認」所載政策釐定之交易價格計
+量。
+金融資產於初步確認時分類為其後以攤銷成
+本、以公允價值計量並計入其他綜合收益及
+以公允價值計量並計入損益計量。
+初步確認及計量
+In order for a financial asset to be classified and measured
+at amortised cost or fair value through other comprehensive
+income, it needs to give rise to cash flows that are solely
+payments of principal and interest ("SPPI") on the principal
+amount outstanding. Financial assets with cash flows that
+are not SPPI are classified and measured at fair value
+through profit or loss, irrespective of the business model.
+The classification of financial assets at initial recognition
+depends on the financial asset's contractual cash flow
+characteristics and the Group's business model for
+managing them. With the exception of trade receivables
+that do not contain a significant financing component or for
+which the Group has applied the practical expedient of not
+adjusting the effect of a significant financing component,
+the Group initially measures a financial asset at its fair
+value, plus in the case of a financial asset not at fair value
+through profit or loss, transaction costs. Trade receivables
+that do not contain a significant financing component or
+for which the Group has applied the practical expedient
+are measured at the transaction price determined under
+HKFRS 15 in accordance with the policies set out for
+“Revenue recognition” below.
+Financial assets are classified, at initial recognition, as
+subsequently measured at amortised cost, fair value
+through other comprehensive income, and fair value
+through profit or loss.
+Initial recognition and measurement
+投資及其他金融資產
+Investments and other financial assets
+重要會計政策摘要(續)
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+141
+Annual Report 2021
+二零二一年年報
+二零二一年十二月三十一日
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+2.4
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+143
+Annual Report 2021
+二零二一年年報
+以攤銷成本計量的金融資產其後使用實際利
+率法計量,並受限於減值。當資產終止確
+認、修訂或減值時,收益及虧損於損益表中
+確認。
+以攤銷成本計量的金融資產(債務工具)
+in the statement of profit or loss when the asset is
+derecognised, modified or impaired.
+measured using the effective interest method and are
+subject to impairment. Gains and losses are recognised
+Financial assets at amortised cost are subsequently
+金融資產的後續計量視乎其以下分類而定:
+本集團並無轉讓資產所有權所附帶的絕大部
+分風險及回報的租賃分類為經營租賃。倘合
+同包括租賃及非租賃部分,本集團根據相對
+獨立的售價基準將合同代價分配予各部分。
+租金收入於租期內按直線法入賬,並根據其
+經營性質計入損益表內的收入。協商及安排
+經營租賃的初始直接成本計入租賃資產的賬
+面值,並按與租金收入相同之基準於租期內
+確認。或然租金於賺取期間確認為收入。
+後續計量
+Financial assets at amortised cost (debt instruments)
+The subsequent measurement of financial assets depends
+on their classification as follows:
+Subsequent measurement
+All regular way purchases and sales of financial assets
+are recognised on the trade date, that is, the date that
+the Group commits to purchase or sell the asset. Regular
+way purchases or sales are purchases or sales of financial
+assets that require delivery of assets within the period
+generally established by regulation or convention in the
+marketplace.
+本集團管理金融資產的業務模式指其管理其
+金融資產以產生現金流量的方式。業務模式
+釐定現金流量是否來自收集合同現金流量、
+出售金融資產,或兩者兼有。以攤銷成本分
+類及計量的金融資產於旨在持有金融資產於
+以收取合同現金流量的業務模式中持有,而
+以公允價值分類及計量並計入其他綜合收益
+分類及計量的金融資產於旨在持有以收取合
+同現金流量及銷售的的業務模式中持有。並
+非於上述業務模式持有的金融資產以公允價
+值分類及計量並計入損益。
+初步確認及計量(續)
+投資及其他金融資產(續)
+cash flows, selling the financial assets, or both. Financial
+assets classified and measured at amortised cost are
+held within a business model with the objective to hold
+financial assets in order to collect contractual cash flows,
+while financial assets classified and measured at fair value
+through other comprehensive income are held within a
+business model with the objective of both holding to collect
+contractual cash flows and selling. Financial assets which
+are not held within the aforementioned business models
+are classified and measured at fair value through profit or
+loss.
+The Group's business model for managing financial assets
+refers to how it manages its financial assets in order to
+generate cash flows. The business model determines
+whether cash flows will result from collecting contractual
+Initial recognition and measurement (continued)
+Investments and other financial assets (continued)
+重要會計政策摘要(續)
+所有一般買賣的金融資產概於交易日(即本
+集團承諾買賣該資產的日期)予以確認。
+般買賣乃指按照一般市場規定或慣例須在一
+定期間內交付資產的金融資產買賣。
+BYD Company Limited
+Annual Report 2021
+二零二一年年報
+139
+31 December 2021
+二零二一年十二月三十一日
+Income tax comprises current and deferred tax. Income
+tax relating to items recognised outside profit or loss
+is recognised outside profit or loss, either in other
+comprehensive income or directly in equity.
+Current tax assets and liabilities are measured at the
+amount expected to be recovered from or paid to the
+taxation authorities, based on tax rates (and tax laws)
+that have been enacted or substantively enacted by the
+end of the reporting period, taking into consideration
+interpretations and practices prevailing in the countries in
+which the Group operates.
+Deferred tax is provided, using the liability method, on all
+temporary differences at the end of the reporting period
+between the tax bases of assets and liabilities and their
+carrying amounts for financial reporting purposes.
+Deferred tax liabilities are recognised for all taxable
+temporary differences, except:
+when the deferred tax liability arises from the initial
+recognition of goodwill or an asset or liability in a
+transaction that is not a business combination and,
+at the time of the transaction, affects neither the
+accounting profit nor taxable profit or loss; and
+in respect of taxable temporary differences
+associated with investments in subsidiaries, joint
+ventures and associates, when the timing of the
+reversal of the temporary differences can be
+controlled and it is probable that the temporary
+differences will not reverse in the foreseeable future.
+所得稅
+所得稅包括本期及遞延稅項。損益外確認項
+目相關的所得稅於損益外確認,或於其他綜
+合收益內確認,或直接於權益確認。
+本期稅項資產及負債乃根據報告期末已實施
+或大致上已實施的税率(及稅法),並計及本
+集團經營所在國家現行詮釋及慣例,按預期
+可自稅務機關收回或向稅務機關繳付的金額
+計量。
+於報告期末的資產及負債的稅基與其在財務
+報告賬面值之間的所有暫時性差異,須按負
+債法計提遞延稅項撥備。
+除下述者外,本集團均會就所有應課稅暫時
+性差異確認遞延稅項負債:
+倘若遞延稅項負債產生自一項交易
+(並非業務合併)初始確認的商譽或
+資產或負債,而於該項交易進行時對
+會計溢利或應課稅溢利或虧損均無影
+響;及
+就有關於附屬公司、合營公司及聯營
+公司的投資的應課稅暫時性差異而
+言,倘若撥回暫時性差異的時間可以
+控制,以及暫時性差異不大可能在可
+見將來撥回。
+BYD Company Limited
+158
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+二零二一年十二月三十一日
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+重要會計政策摘要(續)
+Income tax (continued)
+Deferred tax assets are recognised for all deductible
+temporary differences, and the carryforward of unused
+tax credits and any unused tax losses. Deferred tax
+assets are recognised to the extent that it is probable that
+taxable profit will be available against which the deductible
+temporary differences, and the carryforward of unused tax
+credits and unused tax losses can be utilised, except:
+when the deferred tax asset relating to the
+deductible temporary differences arises from
+the initial recognition of an asset or liability in a
+transaction that is not a business combination and,
+at the time of the transaction, affects neither the
+accounting profit nor taxable profit or loss; and
+in respect of deductible temporary differences
+associated with investments in subsidiaries, joint
+ventures and associate, deferred tax assets are only
+recognised to the extent that it is probable that the
+temporary differences will reverse in the foreseeable
+future and taxable profit will be available against
+which the temporary differences can be utilised.
+Income tax
+重要會計政策摘要(續)
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+31 December 2021
+二零二一年十二月三十一日
+現金及現金等價物
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+重要會計政策摘要(續)
+Cash and cash equivalents
+For the purpose of the consolidated statement of cash
+flows, cash and cash equivalents comprise cash on
+hand and demand deposits, and short term highly liquid
+investments that are readily convertible into known amounts
+of cash, are subject to an insignificant risk of changes in
+value, and have a short maturity of generally within three
+months when acquired, less bank overdrafts which are
+repayable on demand and form an integral part of the
+Group's cash management.
+For the purpose of the consolidated statement of financial
+position, cash and cash equivalents comprise cash on
+hand and at banks, including term deposits and assets
+similar in nature to cash, which are not restricted as to use.
+Short-term deposits
+Term deposits with an initial term of over three months but
+less than one year were classified as short-term deposits
+on the consolidated statement of financial position.
+Provisions
+A provision is recognised when a present obligation (legal
+or constructive) has arisen as a result of a past event and
+it is probable that a future outflow of resources will be
+required to settle the obligation, provided that a reliable
+estimate can be made of the amount of the obligation.
+The carrying amount of deferred tax assets is reviewed
+at the end of each reporting period and reduced to the
+extent that it is no longer probable that sufficient taxable
+profit will be available to allow all or part of the deferred
+tax asset to be utilised. Unrecognised deferred tax assets
+are reassessed at the end of each reporting period and are
+recognised to the extent that it has become probable that
+sufficient taxable profit will be available to allow all or part
+of the deferred tax asset to be recovered.
+When the effect of discounting is material, the amount
+recognised for a provision is the present value at the end
+of the reporting period of the future expenditures expected
+to be required to settle the obligation. The increase in the
+discounted present value amount arising from the passage
+of time is included in finance costs in the statement of
+profit or loss.
+就合併現金流量表而言,現金及現金等價物
+包括手頭現金及活期存款及一般於購入後三
+個月內到期,可隨時轉換為已知金額現金但
+價值變動風險不大的短期高變現能力投資,
+減須按要求償還的銀行透支,為本集團現金
+管理的組成部分。
+就合併財務狀況表而言,現金及現金等價物
+包括手頭現金及銀行存款(包括定期存款及
+性質與現金相似而其使用不受限制的資產)。
+短期定期存款
+初始期限為三個月以上及一年以下的定期存
+款於合併財務狀況表內分類為短期定期存
+款。
+撥備
+倘因過去事件而須承擔現有責任(法定或推
+定),且很可能須以日後資源流出清償此等
+責任時,則會確認撥備,惟責任金額可作出
+可靠估計。
+當折現的影響重大時,確認撥備的數額為於
+報告期末預期需要清償責任的未來開支的現
+值。因時間流逝而增加的折現值計入損益表
+中的融資成本內。
+本集團就銷售特定商品及擔保期間產生瑕疵
+的一般性維修提供建築服務提供擔保。本集
+團所提供的保證型擔保計提的撥備乃按銷量
+及過往的維修及退回情況確認入賬,並折現
+至其現值(倘適用)。
+Annual Report 2021
+二零二一年年報
+157
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+2.4
+The Group provides for warranties in relation to the sale of
+certain goods and the provision of construction services
+for general repairs of defects occurring during the warranty
+period. Provisions for these assurance-type warranties
+granted by the Group are recognised based on sales
+volume and past experience of the level of repairs and
+returns, discounted to their present values as appropriate.
+所得稅(續)
+除下述者外,本集團均會就所有可扣稅暫時
+性差異、承前未用税收抵免及未用稅項虧損
+確認遞延稅項資產。遞延稅項資產僅限於日
+後很大可能出現應課稅溢利,用作抵銷該等
+可扣稅暫時性差異,以及可動用承前未用稅
+收抵免及未用稅項虧損時,方會確認:
+倘若有關可扣稅暫時性差異的遞延税
+項資產產生自一項交易(並非業務合
+併)初始確認的資產或負債,而於該
+項交易進行時對會計溢利或應課稅溢
+利或虧損均無影響;及
+Financial liabilities are classified as held for trading if
+they are incurred for the purpose of repurchasing in the
+near term. This category also includes derivative financial
+instruments entered into by the Group that are not
+designated as hedging instruments in hedge relationships
+as defined by HKFRS 9. Separated embedded derivatives
+are also classified as held for trading unless they are
+designated as effective hedging instruments. Gains or
+losses on liabilities held for trading are recognised in the
+statement of profit or loss. The net fair value gain or loss
+recognised in the statement of profit or loss does not
+include any interest charged on these financial liabilities.
+以公允價值計量並計入損益的金融負債
+以公允價值計量並計入損益的金融負債包括
+持作買賣金融負債及於初步確認時被指定為
+以公允價值計量並計入損益的金融負債。
+倘為於短期購回而產生金融負債,則有關金
+融負債分類為持作買賣。此分類亦包括由本
+集團訂立的衍生金融工具,並非《香港財務
+報告準則》第9號界定對沖關係所指定的對沖
+工具。個別嵌入式衍生工具亦分類為持作買
+賣,惟其被指定為有效對沖工具則除外。持
+作買賣負債的收益或虧損於損益表中確認。
+於損益表中確認的公允價值盈虧淨額並不包
+括該等金融負債的任何已收取利息。
+BYD Company Limited
+150
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+重要會計政策摘要(續)
+Financial liabilities and equity instruments
+(continued)
+Financial liabilities at fair value through profit or loss
+(continued)
+Financial liabilities designated upon initial recognition as at
+fair value through profit or loss are designated at the initial
+date of recognition, and only if the criteria in HKFRS 9 are
+satisfied. Gains or losses on liabilities designated at fair
+value through profit or loss are recognised in the statement
+of profit or loss, except for the gains or losses arising from
+the Group's own credit risk which are presented in other
+comprehensive income with no subsequent reclassification
+to the statement of profit or loss. The net fair value gain or
+loss recognised in the statement of profit or loss does not
+include any interest charged on these financial liabilities.
+Financial liabilities at amortised cost (loans and
+borrowings)
+After initial recognition, interest-bearing loans and
+borrowings are subsequently measured at amortised
+cost, using the effective interest rate method unless the
+effect of discounting would be immaterial, in which case
+they are stated at cost. Gains and losses are recognised
+in the statement of profit or loss when the liabilities are
+derecognised as well as through the effective interest rate
+amortisation process.
+Amortised cost is calculated by taking into account any
+discount or premium on acquisition and fees or costs
+that are an integral part of the effective interest rate. The
+effective interest rate amortisation is included in finance
+costs in the statement of profit or loss.
+金融負債及股本工具(續)
+以公允價值計量並計入損益的金融負債(續)
+於初步確認時指定以公允價值計量並計入損
+益的金融負債,僅當《香港財務報告準則》第
+9號的標準達成後,方會於初步確認當日予
+以指定。指定以公允價值計量並計入損益的
+負債之收益或虧損於損益表確認,惟產生自
+本集團本身呈列於其他綜合收益且其後並無
+重新分類至損益表的信貸風險的收益或虧損
+除外。於損益表中確認的公允價值盈虧淨額
+並不包括該等金融負債的任何已收取利息。
+以攤銷成本計量的金融負債(貸款及借貸)
+初步確認後,計息貸款及借貸其後採用實際
+利率法以攤銷成本計量,惟折現影響甚微,
+就此而言則按成本列賬。收益及虧損於負債
+終止確認時採用實際利率攤銷程序於損益表
+內予以確認。
+計量攤銷成本時,計及收購的任何折讓或溢
+價及屬實際利率不可分割部分的費用或成
+本。實際利率攤銷入賬損益表內融資成本。
+Annual Report 2021
+二零二一年年報
+151
+Notes to Financial Statements
+include financial liabilities held for trading and financial
+liabilities designated upon initial recognition as at fair value
+through profit or loss.
+財務報表附註
+Financial liabilities at fair value through profit or loss
+後續計量
+就有關於附屬公司、合營公司及聯營
+公司的投資的可扣稅暫時性差異而
+言,僅會在暫時性差異很有可能在可
+見將來撥回,以及出現應課稅溢利可
+對銷該等暫時性差異時,方會確認遞
+延稅項資產。
+遞延稅項資產的賬面值於各報告期末進行審
+閱,倘不再可能有足夠應課稅溢利用作抵銷
+全部或部分遞延稅項資產,則減少遞延稅項
+資產的賬面值。倘應課稅溢利可能有足夠令
+全部或部分遞延稅項資產回收時,則於各報
+告期末重新評估未確認的遞延稅項資產並予
+以確認。
+Deferred tax assets and liabilities are measured at the
+tax rates that are expected to apply to the period when
+the asset is realised or the liability is settled, based
+on tax rates (and tax laws) that have been enacted or
+substantively enacted by the end of the reporting period.
+遞延稅項資產及負債按變現資產或償還負債
+期間的預期適用稅率,以於報告期末已實施
+或大致上已實施的稅率(及稅法)為基準計
+算。
+財務報表附註
+Annual Report 2021
+二零二一年年報
+149
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+重要會計政策摘要(續)
+Financial liabilities and equity instruments
+Initial recognition and measurement
+Financial liabilities and equity instruments issued by a
+group entity are classified as either financial liabilities or as
+equity in accordance with the substance of the contractual
+arrangements and the definitions of a financial liability and
+an equity instrument.
+All financial liabilities are recognised initially at fair value
+and, in the case of loans and borrowings and payable, net
+of directly attributable transaction costs.
+The Group's financial liabilities include trade and other
+payables, interest-bearing bank and other borrowings, and
+derivative financial instruments.
+Subsequent measurement
+The subsequent measurement of financial liabilities
+depends on their classification as follows:
+Financial liabilities at fair value through profit or loss
+金融負債及股本工具
+初步確認及計量
+集團實體發行的金融負債及股本工具根據合
+同安排的內容以及金融負債及股本工具的釋
+義分類為金融負債或股本工具。
+所有金融負債於初步確認時以公允價值確
+認,而貸款及借貸及應付賬款則於扣除直接
+應佔交易成本後確認。
+本集團的金融負債包括應付貿易賬款及其他
+應付賬款、計息銀行及其他借款,以及衍生
+金融工具。
+金融負債的後續計量視乎其以下分類而定:
+Notes to Financial Statements
+31 December 2021
+156
+management objective and its strategy for undertaking the
+hedge.
+衍生工具公允價值變動產生的任何��虧直接
+計入損益表,而現金流對沖的實際部分則除
+外,其乃於其他綜合收益確認及其後於對沖
+項目影響損益時重新分類至損益。
+就對沖會計而言,若現金流量變動風險源於
+和已確認資產或負債或很可能發生的預期交
+易有關的某類特定風險,或源於一項未確認
+的確定承諾包含的外匯風險,則對此類風險
+進行的對沖被分類為現金流量對沖。
+在對沖關係開始時,本集團正式指定並記錄
+本集團希望對其應用對沖會計的對沖關係、
+風險管理目標及其進行對沖的策略。
+Annual Report 2021
+二零二一年年報
+153
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+重要會計政策摘要(續)
+Derivative financial instruments and hedge
+accounting (continued)
+衍生金融工具及對沖會計處理方法(續)
+金融負債及股本工具(續)
+Financial liabilities and equity instruments
+(continued)
+重要會計政策摘要(續)
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+比亞迪股份有限公司
+Financial guarantee contracts issued by the Group are
+those contracts that require a payment to be made to
+reimburse the holder for a loss it incurs because the
+specified debtor fails to make a payment when due in
+accordance with the terms of a debt instrument. A financial
+guarantee contract is recognised initially as a liability at its
+fair value, adjusted for transaction costs that are directly
+attributable to the issuance of the guarantee. Subsequent
+to initial recognition, the Group measures the financial
+guarantee contracts at the higher of: (i) the ECL allowance
+determined in accordance with the policy as set out in
+“Impairment of financial assets”; and (ii) the amount initially
+Initial recognition and subsequent measurement
+(continued)
+The documentation includes identification of the hedging
+instrument, the hedged item, the nature of the risk being
+hedged and how the Group will assess whether the
+hedging relationship meets the hedge effectiveness
+requirements (including the analysis of sources of hedge
+ineffectiveness and how the hedge ratio is determined).
+A hedging relationship qualifies for hedge accounting if it
+meets all of the following effectiveness requirements:
+There is "an economic relationship" between the
+hedged item and the hedging instrument.
+The effect of credit risk does not "dominate the
+value changes" that result from that economic
+relationship.
+The hedge ratio of the hedging relationship is the
+same as that resulting from the quantity of the
+hedged item that the Group actually hedges and the
+the Group wishes to apply hedge accounting, the risk
+At the inception of a hedge relationship, the Group formally
+designates and documents the hedge relationship to which
+For the purpose of hedge accounting, hedges are
+classified as cash flow hedges when hedging the exposure
+to variability in cash flows that is either attributable to
+a particular risk associated with a recognised asset or
+liability or a highly probable forecast transaction, or a
+foreign currency risk in an unrecognised firm commitment;
+Any gains or losses arising from changes in fair value of
+derivatives are taken directly to the statement of profit or
+loss, except for the effective portion of cash flow hedges,
+which is recognised in other comprehensive income and
+later reclassified to profit or loss when the hedged item
+affects profit or loss.
+recognised less, when appropriate, the cumulative amount
+of income recognised.
+Derecognition of financial liabilities
+A financial liability is derecognised when the obligation
+under the liability is discharged or cancelled, or expires.
+When an existing financial liability is replaced by another
+from the same lender on substantially different terms,
+or the terms of an existing liability are substantially
+modified, such an exchange or modification is treated as
+a derecognition of the original liability and a recognition of
+a new liability, and the difference between the respective
+carrying amounts is recognised in the statement of profit or
+loss.
+Offsetting of financial instruments
+Financial assets and financial liabilities are offset, and the
+net amount is reported in the statement of financial position
+if there is a currently enforceable legal right to offset the
+recognised amounts and there is an intention to settle on
+a net basis, or to realise the assets and settle the liabilities
+simultaneously.
+財務擔保合同
+本集團發行的財務擔保合同乃為由於特定債
+務人未能根據債務工具條款於債務到期時償
+付,而須本集團作出付款以就產生的損失賠
+償持有人的合同。財務擔保合同初步按其公
+允價值確認為負債,並就發行擔保直接產生
+的交易成本作出調整。初步確認後,本集團
+以下列兩者較高者計算財務擔保合同:(i)根
+據「金融資產減值」所載政策釐定的預期信貸
+虧損撥備;及(ii)初步確認金額減(如適用)
+已確認收益的累計金額。
+終止確認金融負債
+金融負債於負債的責任已解除或註銷或屆滿
+時終止確認。
+當現有金融負債為同一貸款人以實質上不同
+條款的負債取代時,或現有負債的條款有重
+大修改時,有關交換或修改則被視為終止確
+認原有負債及確認一項新負債,而有關賬面
+值的差額乃於損益表確認。
+抵銷金融工具
+倘於現時具有可強制執行的法定權利可抵銷
+已確認金額及有意按淨額基準結算,或同時
+變現資產及清償負債時,金融資產及金融負
+債方會予以抵銷並於財務狀況表內呈報淨
+額。
+BYD Company Limited
+quantity of the hedging instrument that the Group
+152
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+重要會計政策摘要(續)
+Derivative financial instruments and hedge
+accounting
+Initial recognition and subsequent measurement
+The Group uses derivative financial instruments, such as
+foreign currency forward contracts, to hedge its foreign
+currency risk. Those derivative financial instruments are
+initially recognised at fair value on the date on which a
+derivative contract is entered into and are subsequently
+remeasured at fair value. Derivatives are carried as assets
+when the fair value is positive and as liabilities when the
+fair value is negative.
+衍生金融工具及對沖會計處理方法
+初步確認及後續計量
+本集團使用外匯遠期貨幣合同等衍生金融工
+具對沖其外幣風險。該等衍生金融工具初步
+按訂立衍生合同當日的公允價值確認,其後
+以公允價值計量。衍生工具在公允價值為正
+數時以資產列賬,而為負數時則以負債列
+賬。
+比亞迪股份有限公司
+actually uses to hedge that quantity of hedged item.
+Financial guarantee contracts
+The effective portion of the gain or loss on the hedging
+instrument is recognised directly in other comprehensive
+income in the cash flow hedge reserve, while any
+ineffective portion is recognised immediately in the
+statement of profit or loss. The cash flow hedge reserve is
+adjusted to the lower of the cumulative gain or loss on the
+hedging instrument and the cumulative change in fair value
+of the hedged item.
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+155
+Annual Report 2021
+二零二一年年報
+倘終止使用現金流量對沖會計法,如預期被
+對沖的未來現金流量仍然會發生,則已在其
+他綜合收益中累計之金額必須保留在累計其
+他綜合收益中。否則,有關金額將即時重新
+分類至損益表作為重新分類調整。在終止使
+用現金流量對沖會計法後,當被對沖的現金
+流量發生時,任何保留在累計其他綜合收益
+之金額按上述相關交易之性質進行會計處
+理。
+就任何其他現金流量對沖而言,在其他綜合
+收益累計之金額會於對沖現金流量影響損益
+表之同一期間或各個期間重新分類至損益表
+作為重新分類調整。
+If cash flow hedge accounting is discontinued, the amount
+that has been accumulated in other comprehensive income
+must remain in accumulated other comprehensive income
+if the hedged future cash flows are still expected to occur.
+Otherwise, the amount will be immediately reclassified
+to the statement of profit or loss as a reclassification
+adjustment. After the discontinuation, once the hedged
+cash flow occurs, any amount remaining in accumulated
+other comprehensive income is accounted for depending
+on the nature of the underlying transaction as described
+above.
+For any other cash flow hedges, the amount accumulated
+in other comprehensive income is reclassified to the
+statement of profit or loss as a reclassification adjustment
+in the same period or periods during which the hedged
+cash flows affect the statement of profit or loss.
+subsequently becomes a firm commitment to which fair
+value hedge accounting is applied.
+在其他綜合收益累計之金額按相關對沖交易
+之性質進行會計處理。如對沖交易其後導致
+確認一項非金融項目,則權益中之累計金額
+將自權益的獨立部分中轉出,並計入被對沖
+資產或負債之初始成本或其他賬面值。此並
+非重新分類調整,故不會在期內其他綜合收
+益中確認。此亦適用於非金融資產或非金融
+負債之預期對沖交易其後成為確定承諾,並
+應用公允價值對沖會計法之情況。
+2.4
+現金流量對沖(續)
+subsequently results in the recognition of a non-financial
+item, the amount accumulated in equity is removed from
+the separate component of equity and included in the
+initial cost or other carrying amount of the hedged asset
+or liability. This is not a reclassification adjustment and
+will not be recognised in other comprehensive income for
+the period. This also applies where the hedged forecast
+transaction of a non-financial asset or non-financial liability
+The amounts accumulated in other comprehensive
+income are accounted for, depending on the nature of the
+underlying hedged transaction. If the hedged transaction
+Cash flow hedges (continued)
+Derivative financial instruments and hedge
+accounting (continued)
+BYD Company Limited
+重要會計政策摘要(續)
+2.4
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+Cash flow hedges
+154
+比亞迪股份有限公司
+二零二一年十二月三十一日
+Notes to Financial Statements
+衍生金融工具及對沖會計處理方法(續)
+重要會計政策摘要(續)
+Derivative financial instruments and hedge
+accounting (continued)
+衍生金融工具及對沖會計處理方法(續)
+初步確認及後續計量(續)
+記錄文件應包含對沖工具、對沖項目的識
+別、被對沖風險的性質及本集團如何評估
+對沖關係是否符合對沖有效性規定(包括其
+對沖有效性來源的分析及對沖比率如何釐
+定)。對沖關係於達成以下全部有效性規定
+時,方可合資格採用對沖會計處理:
+對沖項目與對沖工具之間有「經濟關
+係」。
+信貸風險的影響不會「主導」經濟關
+係引致的「價值變動」。
+對沖關係之對沖比率與本集團實際對
+沖之所對沖項目數量与本集團實際用
+作對沖該數量所對沖項目之對沖工具
+數量相同。
+現金流量對沖
+BYD Company Limited
+存貨按成本與可變現淨值兩者中的較低者列
+賬。成本按加權平均基準釐定,而倘為在製
+品及製成品,則包括直接原料、直接人工及
+適當比例的經常費用。模具成本按生產過程
+產生的實際成本釐定。可變現淨值根據估計
+售價減完成及出售所產生的任何估計成本釐
+定。
+存貨
+持作出售已竣工物業按成本與可變現淨值兩
+者中的較低者列賬,成本按未銷售物業應佔
+土地及建築總成本的比例而釐定。可變現淨
+值乃由董事按個別物業基準根據當時市價而
+估計。
+持作出售已竣工物業
+被指定為且為有效對沖工具的衍生工
+具分類與相關對沖項目一致。衍生工
+具僅在作出可靠分配情況下被分為流
+動部分及非流動部分。
+與主合同並無密切關連的嵌入式衍生
+工具分類與主合同現金流一致。
+當本集團預期持有衍生工具作為經濟
+對沖(而並無應用對沖會計處理方法)
+至超過報告期末後十二個月期間,該
+衍生工具乃與相關項目之分類一致分
+類為非流動(或分開為流動及非流動
+部分)。
+並非指定為有效對沖工具之衍生工具乃分類
+為流動或非流動,或根據對事實及情況之評
+估(即相關合約現金流)分開為流動或非流動
+部分。
+流動與非流動分類對比
+estimated selling prices less any estimated costs to be
+incurred to completion and disposal.
+and an appropriate proportion of overheads. Cost of
+moulds is determined at the actual cost incurred in the
+production process. Net realisable value is based on
+Inventories are stated at the lower of cost and net
+realisable value. Cost is determined on the weighted
+average basis and, in the case of work in progress and
+finished goods, comprises direct materials, direct labour
+Inventories
+Completed properties held for sale are stated at the lower
+of cost and net realisable value. Cost is determined by
+an apportionment of the total land and buildings costs
+attributable to unsold properties. Net realisable value is
+estimated by the directors based on the prevailing market
+prices, on an individual property basis.
+Completed properties held for sale
+對沖工具收益或虧損的有效部分在現金流量
+對沖儲備內的其他綜合收益中直接確認,而
+任何非有效部份即時在損益表內確認。現金
+流量對沖儲備調整至對沖工具累計收益或虧
+損與對沖項目公允價值累計變動之間的較低
+者。
+Derivative instruments that are designated as, and
+are effective hedging instruments, are classified
+consistently with the classification of the underlying
+hedged item. The derivative instruments are
+separated into current portions and non-current
+portions only if a reliable allocation can be made.
+Embedded derivatives that are not closely related to
+the host contract are classified consistently with the
+cash flows of the host contract.
+and non-current portions) consistently with the
+classification of the underlying item.
+Where the Group expects to hold a derivative as
+an economic hedge (and does not apply hedge
+accounting) for a period beyond 12 months after
+the end of the reporting period, the derivative is
+classified as non-current (or separated into current
+Derivative instruments that are not designated as effective
+hedging instruments are classified as current or non-
+current or separated into current and non-current portions
+based on an assessment of the facts and circumstances
+(i.e., the underlying contracted cash flows).
+Current versus non-current classification
+財務報表附註
+31 December 2021
+僱員福利
+如果取消了以權益結算的股份支付,則於取
+消日作為加速行權處理,立即確認尚未確認
+的金額。職工或其他方能夠選擇滿足非可行
+權條件但在等待期內未滿足的,作為取消以
+權益結算的股份支付處理。但是,如果授予
+新的權益工具,並在新權益工具授予日認定
+所授予的新權益工具是用於替代被取消的權
+益工具的,則以與處理原權益工具條款和條
+件修改相同的方式,對所授予的替代權益工
+具進行處理。
+conditions are measured by recognising services rendered
+during the period in relevant costs or expenses and
+crediting the capital reserve accordingly at the fair value
+on the date of grant according to the best estimates
+conducted by the Group at each balance sheet date during
+the pending period. The fair value of equity instruments is
+determined using the binomial option pricing model. For
+details see Note 41.Share-based payment.
+Equity-settled share-based payments made in exchange
+for services rendered by employees are measured at the
+fair value of equity instruments granted to employees.
+Instruments which are vested immediately upon the grant
+are charged to relevant costs or expenses at the fair value
+on the date of grant and the capital reserve is credited
+accordingly. Instruments of which vesting is conditional
+upon completion of services or fulfillment of performance
+Share-based payments (continued)
+重要會計政策摘要(續)
+2.4
+2.4
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+165
+Annual Report 2021
+二零二一年年報
+股份支付,分為以權益結算的股份支付和以
+現金結算的股份支付。以權益結算的股份支
+付,是指本集團為獲取服務以股份或其他權
+益工具作為對價進行結算的交易。
+股份支付
+資本化合同成本按與向客戶轉讓資產相關的
+商品或服務一致的系統基礎攤銷及計入損益
+表。其他合同成本於產生時列為開支。
+Share-based payments can be distinguished into equity-
+settled share-based payments and cash-settled share-
+based payments. Equity-settled share-based payments
+are transactions of the Group settled through the payment
+of shares or other equity instruments in consideration for
+receiving services.
+Share-based payments
+The capitalised contract costs are amortised and charged
+to the statement of profit or loss on a systematic basis that
+is consistent with the transfer to the customer of the goods
+or services to which the asset relates. Other contract costs
+are expensed as incurred.
+預計該成本將可收回。
+(c)
+The costs are expected to be recovered.
+(c)
+No expense is recognised for awards that do not ultimately
+vest due to non-fulfillment of non-market conditions and/or
+vesting conditions. For the market or non-vesting condition
+under the share-based payments agreement, it should
+be treated as vesting irrespective of whether or not the
+market or non-vesting condition is satisfied, provided that
+other performance condition and/or vesting conditions are
+satisfied.
+股份支付(續)
+以權益結算的股份支付換取職工提供服務
+的,以授予職工權益工具的公允價值計量。
+授予後立即可行權的,在授予日按照公允價
+值計入相關成本或費用,相應增加資本公
+積;完成等待期內的服務或達到規定業績條
+件才可行權的,在等待期內每個資產負債表
+日,本集團根據最新取得的可行權職工人數
+變動、是否達到規定業績條件等後續信息對
+可行權權益工具數量作出最佳估計,以此為
+基礎,按照授予日的公允價值,將當期取得
+的服務計入相關成本或費用,相應增加資本
+公積。權益工具的公允價值採用二叉樹期權
+定價模型確定,參見附註41、股份支付。
+對由於未滿足非市場條件和/或歸屬條件而
+最終未能行權的股份支付,不確認費用。股
+份支付協議中規定了市場條件或非可行權條
+件的,無論是否滿足市場條件或非可行權條
+件,只要滿足其他業績條件和/或歸屬條
+件,即視為可行權。
+股份支付(續)
+Employees' entitlements to sick leave and maternity leave
+are not recognised until the time of leave.
+leave are recognised when they accrue to employees.
+Employees' entitlements to annual leave and long service
+Employees' leave entitlements
+Employee benefits
+Where an equity-settled award is cancelled, it is treated
+as if it had vested on the date of cancellation, and any
+expense not yet recognised for the award is recognized
+immediately. Where employees or other parties are
+permitted to choose to fulfill non-vesting conditions but
+have not fulfilled during the pending period, equity-settled
+share-based payments are deemed cancelled. However,
+if a new award is substituted for the cancelled award, and
+designated as a replacement award on the date that it
+is granted, the new awards are treated as if they were a
+modification of the original award.
+Share-based payments (continued)
+重要會計政策摘要(續)
+2.4
+該成本產生或增強將用於滿足(或繼
+續滿足)未來履約義務的實體資源。
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+166
+BYD Company Limited
+如果修改了以權益結算的股份支付的條款,
+至少按照未修改條款的情況確認取得的服
+務。此外,增加所授予權益工具公允價值的
+修改,或在修改日對職工有利的變更,均確
+認取得服務的增加。
+or is otherwise beneficial to the employee as measured at
+the date of modification.
+which increases the total fair value of the instrument ranted,
+Where the terms of an equity-settled share-based
+payment are modified, as a minimum, services obtained
+are recognised as if the terms had not been modified. In
+addition, an expense is recognised for any modification
+二零二一年十二月三十一日
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+本集團於中國內地經營的附屬公司的僱員須
+參與由當地市政府設立的中央退休金計劃。
+該等附屬公司須按其工資成本若干比例向中
+央退休金計劃供款。根據中央退休金計劃規
+則,有關供款將於支付時在損益表中扣除。
+僱員享有的年假及長期服務假期於應計予僱
+員時確認。
+construction or production of qualifying assets, i.e., assets
+that necessarily take a substantial period of time to get
+ready for their intended use or sale, are capitalised as
+part of the cost of those assets. The capitalisation of such
+borrowing costs ceases when the assets are substantially
+ready for their intended use or sale. Investment income
+earned on the temporary investment of specific borrowings
+pending their expenditure on qualifying assets is deducted
+from the borrowing costs capitalised. All other borrowing
+costs are expensed in the period in which they are
+incurred. Borrowing costs consist of interest and other
+costs that an entity incurs in connection with the borrowing
+of funds.
+Where funds have been borrowed generally, and used for
+the purpose of obtaining qualifying assets, a capitalisation
+rate ranging between 3.87% and 4.93% has been applied
+to the expenditure on the individual assets.
+借款成本
+收購、建造或生產合資格資產(即有需要投
+入大量時間準備其擬定用途或出售的資產)
+直接應佔的借款成本撥作資本,作為該等資
+產的部分成本。該等借款成本在資產大致可
+用作其擬定用途或出售時不再撥作資本。擬
+用作合資格資產開支的特定借款作暫時投資
+所賺取的投資收益自撥作資本的借款成本
+中扣除。全部其他借款成本於其產生期間支
+銷。借款成本包括實體因借款資金產生的利
+息及其他費用。
+倘資金屬一般借貸並用於取得合資格資產,
+則個別資產之開支將按介乎3.87%至4.93%
+的比率撥作資本。
+BYD Company Limited
+168
+比亞迪股份有限公司
+Notes to Financial Statements
+31 December 2021
+二零二一年十二月三十一日
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+重要會計政策摘要(續)
+Dividends
+Final dividends are recognised as a liability when they
+are approved by the shareholders in a general meeting.
+Proposed final dividends are disclosed in the notes to the
+financial statements.
+Foreign currencies
+These financial statements are presented in RMB, which is
+the Company's functional and presentation currency. Each
+entity in the Group determines its own functional currency
+and items included in the financial statements of each
+entity are measured using that functional currency. Foreign
+currency transactions recorded by the entities in the Group
+are initially recorded using their respective functional
+currency rates prevailing at the dates of the transactions.
+Monetary assets and liabilities denominated in foreign
+currencies are translated at the functional currency rates
+of exchange ruling at the end of the reporting period.
+Differences arising on settlement or translation of monetary
+items are recognised in the statement of profit or loss.
+Non-monetary items that are measured in terms of
+historical cost in a foreign currency are translated using
+the exchange rates at the dates of the initial transactions.
+Non-monetary items measured at fair value in a foreign
+currency are translated using the exchange rates at the
+date when the fair value was measured. The gain or loss
+arising on translation of a non-monetary item measured at
+fair value is treated in line with the recognition of the gain
+or loss on change in fair value of the item (i.e., translation
+difference on the item whose fair value gain or loss is
+recognised in other comprehensive income or profit or loss
+is also recognised in other comprehensive income or profit
+or loss, respectively).
+股息
+末期股息獲股東於股東大會批准宣派後確認
+為負債。建議末期股息披露於財務報表附
+註。
+外幣
+(b)
+Borrowing costs directly attributable to the acquisition,
+本集團以每月供款形式參與當地市政府所設
+立的定額供款住房公積金計劃。本集團的計
+劃供款乃於產生時支銷。
+住房公積金 - 中國內地
+本集團每月向中國內地以外各地區的相關政
+府機構設立的各定額供款計劃供款。本集團
+有關該等計劃的責任僅限於各期末的應付供
+款。該等計劃的供款乃於產生時支銷。
+僱員享有的病假及產假於休假時始行確認。
+Medical benefits
+The Group's contributions to various defined contribution
+medical benefit plans organised by the relevant municipal
+and provincial governments in the PRC are expensed as
+incurred.
+Pension scheme - Mainland China
+The employees of the Group's subsidiaries, which operate
+in Mainland China, are required to participate in a
+central pension scheme operated by the local municipal
+government. These subsidiaries are required to contribute
+a certain percentage of their payroll costs to the central
+pension scheme. The contributions are charged to the
+statement of profit or loss as they become payable in
+accordance with the rules of the central pension scheme.
+醫療福利
+本集團向多個中國有關市級及省級政府安排
+的定額供款醫療福利計劃供款,有關供款於
+產生時支銷。
+退休金計劃-中國內地
+Annual Report 2021
+二零二一年年報
+167
+Notes to Financial Statements
+財務報表附註
+僱員假期權利
+31 December 2021
+二零二一年十二月三十一日
+SUMMARY OF SIGNIFICANT ACCOUNTING
+2.4
+重要會計政策摘要(續)
+POLICIES (CONTINUED)
+Employee benefits (continued)
+Pension scheme - outside Mainland China
+The Group contributes on a monthly basis to various
+defined contribution plans organised by the relevant
+governmental authorities in various areas other than
+Mainland China. The Group's liability in respect of these
+plans is limited to the contributions payable at the end of
+each period. Contributions to these plans are expensed as
+incurred.
+Housing fund - Mainland China
+The Group contributes on a monthly basis to a defined
+contribution housing fund plan operated by the local
+municipal government. Contributions to this plan by the
+Group are expensed as incurred.
+Borrowing costs
+僱員福利(續)
+退休金計劃-中國內地以外地區
+2.4
+The costs generate or enhance resources of the
+entity that will be used in satisfying (or in continuing
+to satisfy) performance obligations in the future.
+收入確認(續)
+該成本直接與合同或實體可以明確識
+別的預期合同相關。
+Revenue recognition (continued)
+POLICIES (CONTINUED)
+重要會計政策摘要(續)
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+2.4
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+161
+Annual Report 2021
+二零二一年年報
+倘承諾代價與貨品或服務的現金銷售價格的
+差額因融資撥備以外的原因而產生,則不存
+在重大融資成分。
+倘合同包括向客戶提供一年以上有關向客戶
+轉讓貨品或服務之重大融資利益的融資成
+分,則收入按應收金額的現值計量,並於合
+同開始時運用將於本集團與客戶之間的獨立
+融資交易中反映的折現率折讓。倘合同包括
+提供本集團一年以上重大財務利益的融資成
+分,則根據該合同確認的收入包括根據實際
+利率法合同責任附有的利息開支。對於客戶
+付款與承諾貨品或服務轉移期間為一年或以
+下的合同,乃不就重大融資成分的影響運用
+《香港財務報告準則》第15號的實際權宜方法
+對交易價格進行調整。
+倘合同代價包括可變金額時,則代價金額估
+計為本集團就交換向客戶轉讓貨品或服務而
+有權收取的代價金額。可變代價於合同開始
+時估計並加以限制,直至已確認累計收入金
+額的重大收入撥回不太可能發生(倘可變代
+價的相關不確定因素其後得以解決)為止。
+當貨品或服務控制權按反映本集團預期有權
+獲得以交換該等貨品或服務的代價金額轉移
+至客戶時,確認客戶合同收入。
+客戶合同收入
+收入確認
+Revenue from contracts with customers (continued)
+A significant financing component does not exist if the
+difference between the promised consideration and the
+cash selling price of the good or service arises for reasons
+other than the provision of finance.
+The Group sells products to a customer who is also the
+purchased from the customer and provides significant
+services to integrate materials with other goods and
+services into a portfolio of outputs. The Group considered
+(i)
+該等折讓產生可變代價。
+部分銷售商品的合同提供客戶折讓。
+customers with rebates. The rebates give rise to
+variable consideration.
+Some contracts for the sale of goods provide
+來自銷售商品的收入在資產控制權轉
+移至客戶時(一般為交接該等商品時)
+確認。
+transferred to the customer, generally on delivery
+and acceptance of the goods.
+at the point in time when control of the asset is
+Revenue from the sale of goods is recognised
+銷售商品
+(a)
+Sale of goods
+(a)
+本集團向特定客戶銷售商品,該客戶同時也
+是商品製造過程中使用的關鍵材料的供應
+商。本集團取得自客戶採購的材料的控制權
+並提供重要服務,從而將材料與其他商品及
+服務綜合為一個產出組合。本集團在該安排
+中視其為主要責任人,因此按總額基準確認
+收入。否則,本集團為代理人,將收入列為
+就代理服務而保留的淨額(倘其責任為安排
+提供商品)。
+客戶合同收入(續)
+此等財務報表乃以本公司的功能及呈報貨幣
+人民幣列報。本集團內各實體均自行決定其
+功能貨幣,而各實體的財務報表所包含的項
+目均採用該功能貨幣計量。本集團內各實體
+所錄得外幣結算交易最初以交易當日各自的
+功能貨幣匯率記錄。以外幣計算的貨幣資產
+及負債按報告期末的功能貨幣匯率換算。結
+算或換算貨幣項目時產生的差額於損益表中
+確認。
+itself as a principal in the arrangement and accordingly
+recognizes revenue on a gross basis. Otherwise, the Group
+is an agent and records as revenue the net amount that
+it retains for its agency services if its role is to arrange to
+provide the goods.
+supplier of key materials used in the manufacturing of
+products. The Group obtains the control of the materials
+Rebates
+effects of a significant financing component, using the
+practical expedient in HKFRS 15.
+When the contract contains a financing component which
+provides the customer with a significant benefit of financing
+the transfer of goods or services to the customer for more
+than one year, revenue is measured at the present value of
+the amount receivable, discounted using the discount rate
+that would be reflected in a separate financing transaction
+between the Group and the customer at contract inception.
+所得稅(續)
+Where the Group receives government loans granted with
+no or at a below-market rate of interest for the construction
+of a qualifying asset, the initial carrying amount of the
+government loans is determined using the effective interest
+rate method, as further explained in the accounting
+policy for "Financial liabilities" above. The benefit of the
+government loans granted with no or at a below-market
+rate of interest, which is the difference between the initial
+carrying value of the loans and the proceeds received,
+is treated as a government grant and released to the
+statement of profit or loss over the expected useful life of
+the relevant asset by equal annual instalments.
+Where the grant relates to an asset, the fair value is
+credited to a deferred income account and is released to
+the statement of profit or loss over the expected useful
+life of the relevant asset by equal annual instalments
+or deducted from the carrying amount of the asset and
+released to the statement of profit or loss by way of a
+reduced depreciation charge.
+Government grants are recognised at their fair value
+where there is reasonable assurance that the grant will be
+received and all attaching conditions will be complied with.
+When the grant relates to an expense item, it is recognised
+as income on a systematic basis over the periods that
+the costs, for which it is intended to compensate, are
+expensed.
+Government grants
+Deferred tax assets and deferred tax liabilities are offset
+if and only if the Group has a legally enforceable right to
+set off current tax assets and current tax liabilities and
+the deferred tax assets and deferred tax liabilities relate
+to income taxes levied by the same taxation authority on
+either the same taxable entity or different taxable entities
+which intend either to settle current tax liabilities and
+assets on a net basis, or to realise the assets and settle
+the liabilities simultaneously, in each future period in which
+significant amounts of deferred tax liabilities or assets are
+expected to be settled or recovered.
+Income tax (continued)
+POLICIES (CONTINUED)
+重要會計政策摘要(續)
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+2.4
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+159
+Annual Report 2021
+二零二一年年報
+僅於本集團擁有依法執行權利,可抵銷本期
+稅項資產、本期稅項負債與遞延稅項資產及
+遞延稅項負債,而有關所得稅由同一稅務機
+關就同一稅務實體或不同稅務實體徵收,且
+該不同稅務實體計劃在日後每個預計有大額
+遞延稅項負債需清償或有大額遞延稅項資產
+可以收回的期���內,按淨額基準結算本期稅
+項負債及資產,或同時變現資產及清償負債
+時,遞延稅項資產及遞延稅項負債予以對
+銷
+When the contract contains a financing component which
+provides the Group with a significant financial benefit for
+more than one year, revenue recognised under the contract
+includes the interest expense accreted on the contract
+liability under the effective interest method. For a contract
+where the period between the payment by the customer
+and the transfer of the promised goods or services is one
+year or less, the transaction price is not adjusted for the
+°
+政府補貼是在合理確保將可收取補貼及符合
+所有附帶條件時按其公允價值予以確認。倘
+補貼與一項開支項目有關,則該等補貼於擬
+用作補償的成本支出期間內按系統基礎確認
+為收入。
+When the consideration in a contract includes a variable
+amount, the amount of consideration is estimated to which
+the Group will be entitled in exchange for transferring
+the goods or services to the customer. The variable
+consideration is estimated at contract inception and
+constrained until it is highly probable that a significant
+revenue reversal in the amount of cumulative revenue
+recognised will not occur when the associated uncertainty
+with the variable consideration is subsequently resolved.
+control of goods or services is transferred to the customers
+at an amount that reflects the consideration to which the
+Group expects to be entitled in exchange for those goods
+or services.
+Revenue from contracts with customers is recognised when
+Revenue from contracts with customers
+Revenue recognition
+重要會計政策摘要(續)
+2.4
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+BYD Company Limited
+160
+倘本集團就建造合資格資產而收取的政府貸
+款不附息或按低於市場利率計息,則政府貸
+款的初始賬面值使用實際利率法釐定,進一
+步詳情載述於上文「金融負債」的會計政策。
+授出的不附息或按低於市場利率計息的政府
+貸款收益(為貸款的初始賬面值與所收取的
+所得款項的差額)視作政府補貼,該收益於
+有關資產的預期可使用年期內逐年按等額分
+期調撥至損益表。
+倘補貼與一項資產有關,則其公允價值會計
+入遞延損益賬,並按均等年度分期,於有關
+資產的預期可使用年期調撥至損益表,或自
+該項資產的賬面值中扣除並透過減少折舊開
+支方式調撥至損益表。
+政府補貼
+(i)
+折讓
+Retrospective rebates may be provided to
+certain customers according to the Group's
+business policy. Rebates are offset against
+amounts payable by the customer. The Group
+利息收入按應計基準以實際利率方法將金融
+工具在預期可使用年期或較短期間(倘適用)
+的估計未來現金收入準確折現至金融資產的
+賬面淨值的利率確認。
+其他收入
+收入確認(續)
+A contract liability is recognised when a payment is
+received or a payment is due (whichever is earlier) from
+a customer before the Group transfers the related goods
+or services. Contract liabilities are recognised as revenue
+when the Group performs under the contract (i.e., transfers
+control of the related goods or services to the customer).
+Contract liabilities
+A contract asset is the right to consideration in exchange
+for goods or services transferred to the customer. If the
+Group performs by transferring goods or services to a
+customer before the customer pays consideration or before
+payment is due, a contract asset is recognised for the
+earned consideration that is conditional. Contract assets
+are subject to impairment assessment, details of which
+are included in the accounting policies for impairment of
+financial assets.
+Contract assets
+Dividend income is recognised when the shareholders'
+right to receive payment has been established, it is
+probable that the economic benefits associated with the
+dividend will flow to the Group and the amount of the
+dividend can be measured reliably.
+Interest income is recognised on an accrual basis using
+the effective interest method by applying the rate that
+exactly discounts the estimated future cash receipts over
+the expected life of the financial instrument or a shorter
+period, when appropriate, to the net carrying amount of the
+financial asset.
+Other income
+Revenue recognition (continued)
+重要會計政策摘要(續)
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+當股東收取付款的權利獲確立,本集團可能
+有與股息相關的經濟利益並能可靠計量股息
+金額時,股息收入予以確認。
+Notes to Financial Statements
+合同資產
+合同負債
+(a)
+除作為存貨、物業、廠房及設備以及無形資
+產資本化的成本外,履���與客戶的合同所產
+生的成本,倘符合以下所有條件,則資本化
+為資產:
+(a) The costs relate directly to a contract or to an
+anticipated contract that the entity can specifically
+identify.
+Other than the costs which are capitalised as inventories,
+property, plant and equipment and intangible assets, costs
+incurred to fulfil a contract with a customer are capitalised
+as an asset if all the following criteria are met:
+Contract costs
+重要會計政策摘要(續)
+2.4
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+合同成本
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+164
+BYD Company Limited
+合同負債於本集團轉讓相關貨品或服務前在
+收到客戶付款或付款到期時(以較早者為準)
+確認。合同負債於本集團履行合同(即向客
+戶轉讓相關貨品或服務的控制權)時確認為
+收入。
+合同資產乃就換取已向客戶轉讓的貨品或服
+務而收取代價的權利。倘本集團於客戶支付
+代價或付款到期前將貨品或服務轉讓予客
+戶,則就附帶條件的已賺取代價確認合同資
+產。合同資產須進行減值評估,其詳情載於
+金融資產減值的會計政策。
+163
+Annual Report 2021
+二零二一年年報
+租金收入按租賃年期的時間比例基準確認。
+Revenue from contracts with customers (continued)
+Revenue recognition (continued)
+重要會計政策摘要(續)
+2.4
+2.4 SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+162
+BYD Company Limited
+基於本集團商業政策,可向特
+定客戶提供可追溯折讓。折讓
+由客戶應付金額抵銷。本集團
+須使用預期價值法或最可能金
+額法兩者中最能準確預測其將
+有權收取的代價之方法。
+entitled.
+based on which method better predicts the
+amount of consideration to which it will be
+method or the most likely amount method
+is required to use either the expected value
+(b)
+Construction services
+收入確認(續)
+客戶合同收入(續)
+其他來源收入
+由於客戶同時接收及消耗本集團提供
+的利益,提供服務所得收入在預定期
+間內乃以投入法確認。
+Rental income is recognised on a time proportion basis
+over the lease terms.
+Revenue from other sources
+receives and consumes the benefits provided by the
+Group.
+method because the customer simultaneously
+Revenue from the provision of services is
+recognised over the scheduled period on an input
+提供服務
+(b)
+(C)
+(C)
+本集團與客戶之間的建造合同通常包
+含建造服務等履約義務,由於本集團
+履約過程中所提供的服務具有不可替
+代用途,且本集團在整個合同期間內
+有權就累計至今已完成的履約部分收
+入款項,本集團將其作為在某一時段
+內履行的履約義務,按照履約進度確
+認收入,履約進度不能合理確定的除
+外。本集團按照產出法,根據實際測
+量的完工進度確定提供服務的履約進
+度。對於履約進度不能合理確定時,
+本集團已經發生的成本預計能夠得到
+補償的,按照已經發生的成本金額確
+認收入,直到履約進度能夠合理確定
+為止。
+cannot be reasonably determined. The Group
+determines the performance progress for the
+services provided in accordance with the output
+method. When the performance progress cannot
+be reasonably determined, if the costs incurred by
+the Group are expected to be compensated, the
+revenue will be recognised based on the amount of
+costs incurred, until the performance progress can
+be reasonably determined.
+progress, except where the performance progress
+period, the Group considers them as performance
+obligations within a certain period of time, and
+recognises the revenue based on the performance
+The construction contract entered into between
+the Group and its customers usually includes
+performance obligations such as construction
+services. As the irreplaceable use of the services
+provided by the Group, and the Group has the right
+to receive payment for the performance part that
+has been completed so far in the whole contract
+建造服務
+(b)
+Provision for services
+以外幣歷史成本計算的非貨幣項目按首次交
+易當日的匯率換算。以外幣公允價值計算的
+非貨幣項目按計量公允價值當日的匯率換
+算。換算非貨幣項目而產生的收益或虧損以
+公允價值計量,按確認該項目的公允價值變
+動的收益或虧損一致的方法處理(即其他綜
+合收益或損益已確認的項目的公允價值收益
+或虧損,其匯兌差額亦分別於其他綜合收益
+或損益確認)。
+財務報表附註
+保用撥備
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+174
+BYD Company Limited
+對過往觀察違約率、預測經濟狀況及預��信
+貸虧損之間相關性的評估乃為一項重要估
+計。預期信貸虧損的數量對環境變化及預測
+經濟條件較為敏感。本集團的過往信貸虧損
+經驗及經濟狀況預測亦可能無法代表客戶未
+來的實際違約情況。有關本集團應收貿易賬
+款的預期信貸虧損及合同資產的資料分別於
+合併財務報表附註25及28中披露。
+撥備矩陣初步基於本集團的過往觀察違約率
+作出。本集團將使用前瞻性信息校準該矩陣
+以調整過往信貸虧損經歷。例如,倘預測經
+濟狀況(即國內生產總值)預計將於下一年惡
+化(其可能導致製造行業違約數量增加),則
+將調整過往違約率。於各報告日期,本集團
+會更新過往觀察違約率並分析前瞻性估計值
+的變化。
+本集團使用撥備矩陣來計算應收貿易賬款的
+預期信貸虧損。撥備率乃基於具有類似虧損
+模式產品類型的各個客戶群的分組的發票日
+期。
+應收貿易賬款及合同資產的預期信貸虧損撥
+備
+本集團最少每年一次釐定商譽有否減值,此
+須估計獲分配商譽之現金產生單位之使用價
+值。本集團估計使用價值,須要估計現金產
+生單位之預期未來現金流量,以及須要選出
+合適之折現率,以計算現金流量之現值。於
+二零二一年十二月三十一日,商譽的賬面值
+為人民幣65,914,000元(二零二零年:人民
+幣65,914,000元)。進一步詳情載於合併財
+務報表附註17。
+商譽減值
+The assessment of the correlation among historical
+observed default rates, forecast economic conditions
+and ECLS is a significant estimate. The amount of ECLS
+is sensitive to changes in circumstances and forecast
+economic conditions. The Group's historical credit loss
+experience and forecast of economic conditions may also
+not be representative of a customer's actual default in the
+future. The information about the ECLs on the Group's
+trade receivables and contract assets is disclosed in notes
+25 and 28 to the consolidated financial statements.
+The provision matrix is initially based on the Group's
+historical observed default rates. The Group will calibrate
+the matrix to adjust the historical credit loss experience
+with forward-looking information. For instance, if forecast
+economic conditions (i.e., gross domestic products) are
+expected to deteriorate over the next year which can lead
+to an increased number of defaults in the manufacturing
+sector, the historical default rates are adjusted. At each
+reporting date, the historical observed default rates are
+updated and changes in the forward-looking estimates are
+analysed.
+The Group uses a provision matrix to calculate ECLs for
+trade receivables. The provision rates are based on the
+invoice date for groupings of various customer segments
+that have similar loss patterns by product type.
+Provision for expected credit losses on trade receivables
+and contract assets
+RMB65,914,000). Further details are given in note 17 to the
+consolidated financial statements.
+二零二一年十二月三十一日
+3. SIGNIFICANT ACCOUNTING JUDGEMENTS AND
+ESTIMATES (CONTINUED)
+Estimation uncertainty (continued)
+-
+Transfer pricing in operating segments is determined with
+reference to the agreed price among operating segments.
+管理層獨立監控本集團的經營分部業績,以
+便就資源配置及表現評估制定決策。評估分
+部表現時,乃按可呈報分部溢利得出,即計
+量除稅前經調整溢利。計量除稅前經調整溢
+利時,與本集團的除稅前溢利一致,惟非租
+賃相關融資成本、利息收入、匯兌損益、政
+府補助及補貼、連同營業總部及公司開支以
+及收益則不按該法計量。
+分部資產並無包括遞延稅項資產、商譽、以
+公允價值計量並計入其他綜合收益的權益投
+資、其他非流動金融資產、衍生金融工具、
+投資物業及其他未分配營業總部及企業資
+產,乃因該等資產按集團層面管理。
+分部負債並無包括遞延稅項負債、應付稅
+項、以公允價值計量並計入損益的金融負
+債、計息銀行及其他借款、衍生金融工具、
+應付利息、應付股息及其他未分配營業總部
+以及企業負債,乃因該等負債按集團層面管
+理。
+經營分部間的轉讓定價,參考經營分部間的
+協議價格制定。
+非金融資產(商譽除外)減值
+Indefinite life intangible assets are tested for impairment
+annually and at other times when such an indicator exists.
+Other non-financial assets are tested for impairment when
+there are indicators that the carrying amounts may not
+be recoverable. An impairment exists when the carrying
+value of an asset or a cash-generating unit exceeds its
+recoverable amount, which is the higher of its fair value
+less costs of disposal and its value in use. The calculation
+of the fair value less costs of disposal is based on available
+data from binding sales transactions in an arm's length
+transaction of similar assets or observable market prices
+less incremental costs for disposing of the asset. When
+value in use calculations are undertaken, management
+must estimate the expected future cash flows from the
+asset or cash-generating unit and choose a suitable
+discount rate in order to calculate the present value of
+those cash flows.
+The Group assesses whether there are any indicators
+of impairment for all non-financial assets (including the
+right-of-use assets) at the end of each reporting period.
+The Group determines whether goodwill is impaired at
+least on an annual basis. This requires an estimation of
+the value in use of the cash-generating units to which the
+goodwill is allocated. Estimating the value in use requires
+the Group to make an estimate of the expected future
+cash flows from the cash-generating unit and also to
+choose a suitable discount rate in order to calculate the
+present value of those cash flows. The carrying amount of
+goodwill at 31 December 2021 was RMB65,914,000 (2020:
+本集團無法輕易釐定租賃內所隱含的利率,
+因此,使用增量借款利率(「增量借款利率」)
+計量租賃負債。增量借款利率為本集團於類
+似經濟環境中為取得與使用權資產價值相近
+之資產,而以類似抵押品於類似期間借入所
+需資金應支付之利率。因此,增量借款利率
+反映了本集團「應支付」的利率,當無可觀察
+的利率時(如就並無訂立融資交易之附屬公
+司而言)或當須對利率進行調整以反映租賃
+之條款及條件時(如當租賃並非以附屬公司
+的功能貨幣計價時),則須作出估計。當可
+觀察輸入數據可用時,本集團使用可觀察輸
+入數據(如市場利率)估算增量借款利率,並
+須針對不同實體作出若干估計(例如附屬公
+司的單獨信貸評級)。
+估計不確定因素 (續)
+主要會計判斷及估計(續)
+3.
+Impairment of non-financial assets (other than goodwill)
+the subsidiary's stand-alone credit rating).
+required to make certain entity-specific estimates (such as
+The Group cannot readily determine the interest rate
+implicit in a lease, and therefore, it uses an incremental
+borrowing rate ("IBR") to measure lease liabilities. The IBR
+is the rate of interest that the Group would have to pay to
+borrow over a similar term, and with a similar security, the
+funds necessary to obtain an asset of a similar value to
+the right-of-use asset in a similar economic environment.
+The IBR therefore reflects what the Group "would have
+to pay", which requires estimation when no observable
+rates are available (such as for subsidiaries that do not
+enter into financing transactions) or when it needs to be
+adjusted to reflect the terms and conditions of the lease (for
+example, when leases are not in the subsidiary's functional
+currency). The Group estimates the IBR using observable
+inputs (such as market interest rates) when available and is
+Leases Estimating the incremental borrowing rate
+租賃- 估計增量借貸利率
+Segment liabilities exclude deferred tax liabilities, tax
+payable, financial liabilities at fair value through profit or
+loss, interest-bearing bank and other borrowings, derivative
+financial instruments, interest payable, dividend payable
+and other unallocated head office and corporate liabilities
+as these liabilities are managed on a group basis.
+Impairment of goodwill
+Estimation uncertainty (continued)
+172
+BYD Company Limited
+171
+有關未來之主要假設以及於報告期末其他主
+要估計項目不確定因素之來源(其具導致下
+個財政年度內資產及負債賬面值須作出重大
+調整之重大風險)闡述如下。
+估計不確定因素
+本集團乃根據派付股息的時間判斷釐定是否
+應計若干附屬公司分派的股息產生的預扣稅
+(由相關稅務司法權區徵收)。進一步詳情載
+於合併財務報表附註39。
+分派股息產生的預扣稅遞延稅
+本集團向特定客戶銷售商品,該客戶同時也
+是商品製造過程中使用的關鍵材料的供應
+商。本集團需要通過評估其對客戶的承諾的
+性質來判斷其在該類交易中是主要責任人還
+是代理人。倘本集團於向客戶轉讓商品前控
+制所承諾商品,則為主要責任人,故須按總
+額基準記錄收入。否則,本集團為代理人,
+將收入列為就代理服務而保留的淨額(倘其
+責任為安排提供商品)。為評估本集團是否
+在商品轉移給客戶之前控制商品,本集團已
+考慮各種因素,包括但不限於本集團是否(i)
+是安排中的主要責任人,(ii)承擔存貨的一般
+風險,(iii)有權自主決定售價及(iv)極大參與
+釐定產品及服務規格。
+主要責任人與代理人考慮事項
+判斷(續)
+主要會計判斷及估計(續)
+3.
+within the next financial year, are described below.
+adjustment to the carrying amounts of assets and liabilities
+period, that have a significant risk of causing a material
+The key assumptions concerning the future and other key
+sources of estimation uncertainty at the end of the reporting
+Estimation uncertainty
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+主要會計判斷及估計(續)
+3.
+3. SIGNIFICANT ACCOUNTING JUDGEMENTS AND
+ESTIMATES (CONTINUED)
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+173
+Annual Report 2021
+二零二一年年報
+估計不確定因素 (續)
+實體對不確定因素對實體有權獲得的可變代
+價的影響進行估計時,須考慮能夠合理獲得
+的所有信息,包括歷史信息、當前信息以及
+預測信息,在合理的數量範圍內估計各種可
+能發生的對價金額。倘實體具有大量具有相
+似特徵的合同,則預期價值可能是可變代價
+金額的適當估計。當合同僅有兩個可能結果
+時,實體按照最可能發生金額估計可變代價
+金額。倘實體釐定若其將所有可變代價納入
+交易價格後,其極有可能無法符合門檻,則
+須納入交易價格的可變代價金額則受限於不
+會導致重大收入轉回的金額。亦即,與可變
+代價有關的不確定性於其後得到解決時,實
+體須於交易價格納入將不會導致重大收入轉
+回的可變代價部分。於納入交易價格時,倘
+不會導致已確認的累計收入發生重大轉回,
+可變代價的最低金額須納入交易價格內。於
+各報告期末,實體須重新評估可變代價,包
+括可變代價的限制,以反映於報告期間內的
+任何變動。
+估計不確定因素 (續)
+主要會計判斷及估計(續)
+3.
+When estimating the effect of an uncertainty on an amount
+of variable consideration to which the entity will be entitled,
+the entity is required to consider all information (historical,
+current and forecast) that is reasonably available to the
+entity and to estimate variable amount of consideration in
+a range of possible consideration amounts. An expected
+value may be an appropriate estimate of the amount of
+variable considerations if an entity has a large number
+of contracts with similar characteristics. The most likely
+amount may be an appropriate estimate of the amount of
+variable consideration if contract has only two possible
+amounts. When an entity determines that it cannot meet
+the highly probable threshold if it includes all of the
+variable consideration in the transaction price, the amount
+of variable consideration that must be included in the
+transaction price is limited to the amount that would not
+result in a significant revenue reversal. That is, an entity
+is required to include in the transaction price the portion
+of variable consideration that will not result in a significant
+revenue reversal when the uncertainty associated with
+the variable consideration is subsequently resolved. A
+minimum amount of variable consideration should be
+included in the transaction price when doing so would
+not result in a significant reversal of cumulative revenue
+recognised. At the end of each reporting period, the entity
+would be required to revaluate variable consideration,
+including constraints on variable consideration to reflect
+any changes during the reporting period.
+Estimation of constraint on variable consideration
+Estimation uncertainty (continued)
+3. SIGNIFICANT ACCOUNTING JUDGEMENTS AND
+ESTIMATES (CONTINUED)
+二零二一年十二月三十一日
+評估可變代價的限制
+The Group's determination as to whether to accrue
+for withholding taxes arising from the distributions of
+dividends from certain subsidiaries levied in the relevant
+tax jurisdiction is subject to judgement on the timing of the
+payment of the dividends. Further details are included in
+note 39 to the consolidated financial statements.
+Segment assets exclude deferred tax assets, goodwill,
+equity investments at fair value through other
+comprehensive income, other non-current financial assets,
+derivative financial instruments, investment properties and
+other unallocated head office and corporate assets, as
+these assets are managed on a group basis.
+經營分部資料(續)
+176
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+3.
+SIGNIFICANT ACCOUNTING JUDGEMENTS AND
+ESTIMATES (CONTINUED)
+3.
+主要會計判斷及估計(續)
+Estimation uncertainty (continued)
+Development costs
+Development costs are capitalised in accordance with
+the accounting policy for research and development
+costs in note 2.4 to the consolidated financial statements.
+Determining the amounts to be capitalised requires
+management to make assumptions regarding the expected
+future cash generation of the assets, discount rates to
+be applied and the expected period of benefits. At 31
+December 2021, the best estimate of the carrying amount
+of capitalised development costs was RMB9,644,705,000
+(2020: RMB9,688,588,000). Further details are disclosed in
+note 18 to the consolidated financial statements.
+Warranty provisions
+Provisions for product warranties granted by the Group are
+recognised based on sales volume and past experience of
+the level of repairs and returns, discounted to their present
+values as appropriate. Management reviews and adjusts
+the provision to recognise the best estimate at the end of
+each of the reporting periods. Further details are disclosed
+in note 36 to the consolidated financial statements.
+Write-down of inventories based on the lower of cost and
+net realisable value
+The Group, pursuant to the accounting policy for
+inventories, writes down inventories from cost to net
+realisable value and makes reserves for slow-moving items
+and obsolescence by using the lower of cost and net
+realisable value rule. The Group re-estimates the allowance
+to reduce the valuation of inventories to net realisable value
+item by item at the end of each reporting period.
+BYD Company Limited
+僅在可能取得未來應課稅溢利作扣減虧損的
+情況下,方確認由未動用稅項虧損產生之遞
+延稅項資產。在釐定可予確認之遞延稅項資
+產的金額時,須根據可能的時間、未來應課
+税溢利水平連同未來稅項計劃策略作出重大
+管理層判斷。與已確認稅項虧損有關的遞延
+稅項資產於二零二一年十二月三十一日的賬
+面值為人民幣539,785,000元(二零二零年:
+人民幣201,320,000元)。於二零二一年十
+二月三十一日的未確認稅項虧損金額為人民
+幣5,824,945,000元(二零二零年:人民幣
+3,862,193,000元)。進一步詳情於合併財務
+報表附註39中披露。
+遞延稅項資產
+details are disclosed in note 39 to the consolidated
+financial statements.
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+3. SIGNIFICANT ACCOUNTING JUDGEMENTS AND
+ESTIMATES (CONTINUED)
+Estimation uncertainty (continued)
+Depreciation and amortisation
+The Group calculates the depreciation of items of property,
+Fair values of unlisted equity investments
+plant and equipment and amortisation of intangible assets
+on the straight-line basis over their estimated useful lives
+or on the unit-of-production basis and after taking into
+account their estimated residual value, estimated useful
+lives or estimated total production quantities, commencing
+from the date the items of property, plant and equipment
+and intangible assets are placed into use. The estimated
+useful lives or the total production quantities reflect the
+directors' estimate of the period that the Group intends to
+derive future economic benefits from the use of the Group's
+items of property, plant and equipment or intangible
+assets.
+主要會計判斷及估計(續)
+估計不確定因素 (續)
+折舊及攤銷
+本集團計量物業、廠房及設備項目的折舊及
+攤銷無形資產時,乃於物業、廠房及設備及
+無形資產項目投入使用當日起計,根據其估
+計可使用年期按直線法基準計算,並計及其
+估計剩餘價值、估計可使用年期或估計總產
+量後按生產單位基準計算而得出。估計可使
+用年期或總產量反映董事期內估計本集團擬
+將透過其使用物業、廠房及設備或無形資產
+而獲取未來經濟利益。
+Deferred tax assets
+Deferred tax assets are recognised for unused tax
+losses to the extent that it is probable that taxable
+profit will be available against which the losses can be
+utilised. Significant management judgement is required
+to determine the amount of deferred tax assets that can
+be recognised, based upon the likely timing and level
+of future taxable profits together with future tax planning
+strategies. The carrying value of deferred tax assets
+relating to recognised tax losses at 31 December 2021 was
+RMB539,785,000 (2020:RMB201,320,000). The amount
+of unrecognised tax losses at 31 December 2021 was
+RMB5,824,945,000 (2020:RMB3,862,193,000). Further
+3.
+Management monitors the results of the Group's operating
+segments separately for the purpose of making decisions
+about resource allocation and performance assessment.
+Segment performance is evaluated based on reportable
+segment profit, which is a measure of adjusted profit before
+tax. The adjusted profit before tax is measured consistently
+with the Group's profit before tax except that non-lease-
+related finance costs, interest income, exchange gains and
+losses, government grants and subsidies, as well as head
+office and corporate expenses and gains are excluded
+from such measurement.
+For unlisted equity investments, the Group adopts
+recent transaction method or the valuation techniques to
+determine the fair values. Valuation techniques include
+market multiples and option pricing model, etc. The fair
+value measurement of these financial instruments may
+involve important unobservable inputs such as enterprise
+value to revenue (“EV/Revenue") multiple and liquidity
+discount. The Group believes that the estimated fair values
+resulting from the valuation technique and the related
+changes in fair values are reasonable, and they were the
+most appropriate values at the end of the reporting period.
+開發成本
+the rechargeable batteries and photovoltaic
+products segment comprises the manufacture and
+sale of lithium-ion batteries and nickel batteries,
+photovoltaic products and iron batteries products
+(including energy storage stations and iron battery
+packs), principally for mobile phones, electric
+tools and other portable electronic instruments,
+photovoltaic products, energy storage products and
+electric vehicles;
+the mobile handset components, assembly
+service and other products segment comprises
+the manufacture and sale of mobile handset
+components such as housings, electronic
+components, the provision of assembly services and
+medical protection products; and
+the automobiles and related products and other
+products segment comprises the manufacture and
+sale of automobiles and auto-related moulds and
+components and automobile leasing and after sales
+services, rail transport related business and medical
+protection products.
+二次充電電池及光伏產品分部包括製
+造和銷售鋰離子及鎳電池,光伏產品
+及鐵電池產品(包括儲能電站及鐵電
+池組),主要應用於手機、電動工具
+及其他便攜式電子工具、光伏和儲能
+產品以及電動汽車等;
+(b) 手機部件、組裝及其他產品分部包括
+製造和銷售外殼等手機及電子產品部
+件並提供整機組裝服務,防疫物資產
+品;及
+(C)
+汽車、汽車相關產品及其他產品分部
+包括製造和銷售汽車、汽車相關的模
+具及零部件、汽車租賃和汽車的售後
+服務、軌道交通相關業務及防疫物資
+產品。
+BYD Company Limited
+178
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+4. OPERATING SEGMENT INFORMATION
+(CONTINUED)
+4.
+(C)
+(b)
+(a)
+(a)
+開發成本乃根據於合併財務報表附註2.4中
+研究及開發成本的會計政策撥充資本。在釐
+定撥充資本的款項時,管理層須就資產產生
+的預期未來現金、適用的折現率及所得利益
+的預計期限作出假設。於二零二一年十二月
+三十一日,撥充資本開發成本的賬面值的最
+佳估計為人民幣9,644,705,000元(二零二零
+年:人民幣9,688,588,000元)。進一步詳情
+於合併財務報表附註18中披露。
+本集團會於各報告期末評估所有非金融資
+產(包括使用權資產)有否出現任何減值跡
+象。年期無限的無形資產將於每年及出現該
+跡象時進行減值測試。其他非金融資產則於
+出現賬面值可能不可收回的跡象時進行減值
+測試。資產或現金產生單位的賬面值超逾可
+收回金額(即其公允價值減出售成本及使用
+價值兩者中之較高者)時,則出現減值。計
+量公允價值減出售成本時,按約束銷售交易
+根據公平合理基準交易類似資產可得數據,
+或可得市價減出售資產所產生的應計費用而
+得出。當計算使用價值時,管理層必須估計
+來自資產或現金產生單位的預期未來現金流
+量,並選擇合適的折現率以計算該等現金流
+量的現值。
+本集團作出的產品保用撥備乃根據銷量及維
+修及退貨水平方面的過往經驗確認,並適當
+折現至其現值。管理層於各報告期末檢討及
+調整撥備以確認最佳估計。進一步詳情於合
+併財務報表附註36中披露。
+根據成本及可變現淨值兩者中之較低者撇銷
+存貨
+根據存貨會計政策,本集團自成本中將存貨
+撇銷至變現淨值,並利用成本及變現淨值兩
+者中較低者對滯銷及廢棄產品作出撥備。本
+集團重新評估撥備,以於各報告期末逐項將
+存貨價值減至變現淨值項目。
+非上市權益投資的公允價值
+非上市股權投資之公允價值利用近期交易法
+或採用估值技術估算,估值技術包括市場乘
+數法、期權定價模型等。所依據的假設為不
+可觀察輸入值,比如企業價值/收入(「EV/
+Revenue」)比率、流動性折扣等。本集團相
+信,以上述估值方法得出的估計公允價值及
+相關的公允價值變動屬合理,且於報告期末
+為最恰當的價值。
+Annual Report 2021
+二零二一年年報
+估計不確定因素 (續)
+177
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+4.
+OPERATING SEGMENT INFORMATION
+4.
+經營分部資料
+For management purposes, the Group is organised into
+business units based on their products and services and
+has three reportable operating segments as follows:
+就管理而言,本集團按其產品及服務設立業
+務部門,並擁有以下三個可呈報經營分部:
+Notes to Financial Statements
+Deferred tax on withholding tax arising from the
+distributions of dividends
+The Group sells products to a customer who is also the
+supplier of key materials used in the manufacturing of
+products. The Group needs to determine whether it is a
+principal or an agent in these transactions by evaluating
+the nature of its promise to the customer. The Group is
+a principal and therefore records revenue on a gross
+basis if it controls promised goods before transferring the
+goods to the customer. Otherwise, the Group is an agent
+and records as revenue the net amount that it retains for
+its agency services if its role is to arrange to provide the
+goods. To assess whether the Group controls the goods
+before they are transferred to the customer, the Group
+has considered various factors, including but not limited
+to whether the Group is (i) the primary obligor in the
+arrangement, (ii) has general inventory risk, (iii) has latitude
+in establishing the selling price and (iv) has significant
+involvement in the determination of product and service
+specifications.
+Principal versus agent considerations
+BYD Company Limited
+收購境外業務產生的任何商譽及對因收購產
+生的資產及負債賬面值作出的任何公允價值
+調整,均視作境外業務的資產及負債,並按
+結算匯率換算。
+換算產生的匯兌差額於其他綜合收益確認,
+並累計入匯兌波動儲備。出售境外業務時,
+有關該特定境外業務的其他綜合收益部分已
+於損益表確認。
+treated as assets and liabilities of the foreign operation and
+translated at the closing rate.
+amounts of assets and liabilities arising on acquisition are
+Any goodwill arising on the acquisition of a foreign
+operation and any fair value adjustments to the carrying
+The resulting exchange differences are recognised in other
+comprehensive income and accumulated in the exchange
+fluctuation reserve. On disposal of a foreign operation, the
+component of other comprehensive income relating to that
+particular foreign operation is recognised in the statement
+of profit or loss.
+若干境外附屬公司的功能貨幣為人民幣以外
+之貨幣。於報告期末,該等實體的資產與負
+債按報告期末的匯率換算為人民幣,而其損
+益表則按交易日期的概約現行匯率換算為人
+民幣。
+transactions.
+The functional currencies of certain overseas subsidiaries
+are currencies other than the RMB. As at the end of the
+reporting period, the assets and liabilities of these entities
+are translated into RMB at the exchange rates prevailing
+at the end of the reporting period and their statements of
+profit or loss are translated into RMB at the exchange rates
+that approximate to those prevailing at the dates of the
+為釐定初步確認有關資產的匯率、終止確認
+非貨幣性資產或與預收代價相關的非貨幣性
+負債時的開支或收入,初步交易日期是指本
+集團初步確認非貨幣性資產或預收代價產生
+的非貨幣性負債的日期。如有多個預付或預
+收款項,則本集團須釐定各支付預付款項或
+收到預收款項的交易日期。
+170
+外幣(續)
+Foreign currencies (continued)
+重要會計政策摘要(續)
+2.4
+SUMMARY OF SIGNIFICANT ACCOUNTING
+POLICIES (CONTINUED)
+2.4
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+169
+175
+Annual Report 2021
+二零二一年年報
+In determining the exchange rate on initial recognition of
+the related asset, expense or income on the derecognition
+of a non-monetary asset or non-monetary liability relating
+to an advance consideration, the date of initial transaction
+is the date on which the Group initially recognises the non-
+monetary asset or non-monetary liability arising from the
+advance consideration. If there are multiple payments or
+receipts in advance, the Group determines the transaction
+date for each payment or receipt of the advance
+consideration.
+比亞迪股份有限公司
+Annual Report 2021
+二零二一年年報
+財務報表附註
+Notes to Financial Statements
+3. SIGNIFICANT ACCOUNTING JUDGEMENTS AND
+ESTIMATES (CONTINUED)
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+Annual Report 2021
+二零二一年年報
+Judgements (continued)
+業務模式
+contractual cash flows, selling the financial assets, or both.
+financial assets refers to how it manages its financial
+assets in order to generate cash flows. The business model
+determines whether cash flows will result from collecting
+The classification of financial assets at initial recognition
+depends on the financial asset's contractual cash flow
+characteristics and the Group's business model for
+managing them. The Group's business model for managing
+Business model
+金融資產於初步確認時之分類乃視乎該等金
+融資產的合同現金流量特點及本集團管理該
+等金融資產的業務模式而定。本集團管理金
+融資產的業務模式指其管理其金融資產以產
+生現金流量的方式。業務模式釐定現金流量
+是否來自收集合同現金流量、出售金融資
+產,或兩者兼有。
+判斷
+編製本集團的財務報表要求管理層作出影響
+收入、開支、資產及負債的報告金額及其附
+帶披露以及或有負債披露的判斷、估計及假
+���。該等假設及估計並不明確,可能會導致
+出現需要對將來受影響的資產或負債的賬面
+值作出重大調整。
+In the process of applying the Group's accounting policies,
+management has made the following judgements, apart
+from those involving estimations, which have the most
+significant effect on the amounts recognised in the financial
+statements:
+Judgements
+disclosures, and the disclosure of contingent liabilities.
+Uncertainty about these assumptions and estimates could
+result in outcomes that could require a material adjustment
+to the carrying amounts of the assets or liabilities affected
+in the future.
+The preparation of the Group's financial statements
+requires management to make judgements, estimates and
+assumptions that affect the reported amounts of revenues,
+expenses, assets and liabilities, and their accompanying
+主要會計判斷及估計
+3.
+3. SIGNIFICANT ACCOUNTING JUDGEMENTS AND
+ESTIMATES
+於應用本集團會計政策的過程中,除涉及對
+財務報表內已確認金額構成最重大影響的估
+計項目外,管理層已作出以下判斷:
+二零二一年十二月三十一日
+31 December 2021
+合營公司
+Joint ventures
+分佔(溢利)/虧損:
+Share of (profits)/losses of:
+負債總額
+Other segment information:
+136,563,409
+Total liabilities
+58,805,325
+其他分部資料:
+(2,211)
+3,440
+198,955
+Associates
+聯營公司
+27,943
+(40,061)
+(12,118)
+Impairment losses recognised in the
+損益表中確認的減值虧損淨額
+221,690
+(3,711,632)
+467,034
+692,164
+201,166
+企業及其他未分配負債
+Segment liabilities
+各分部間應付款項撇銷
+Elimination of intersegment receivables
+Elimination of unrealised profit from
+intersegment sales
+分部資產
+對賬:
+各分部間應收款項撇銷
+各分部間銷售未變現溢利撇銷
+37,472,382
+37,340,874
+121,710,398
+196,523,654
+(3,711,632)
+(2,026,657)
+10,231,956
+Corporate and other unallocated assets
+企業及其他未分配資產
+Total assets
+資產總值
+201,017,321
+statement of profit or loss, net
+Reconciliation:
+Elimination of intersegment payables
+分部負債
+17,754,593
+20,628,730
+43,086,393
+81,469,716
+對賬:
+Corporate and other unallocated liabilities
+Impairment losses/(losses reversed) on
+12,518,675
+201,005
+31 December 2021
+二零二一年十二月三十一日
+OPERATING SEGMENT INFORMATION 4. 經營分部資料(續)
+4.
+(CONTINUED)
+Geographical information
+(a) Revenue from external customers
+地區資料
+(a) 來自外界客戶的收入
+2021
+二零二一年
+RMB’000
+人民幣千元
+2020
+二零二零年
+RMB'000
+人民幣千元
+財務報表附註
+PRC (including Hong Kong, Macau
+and Taiwan)
+147,404,959 94,345,873
+Overseas
+海外
+63,894,959 59,123,311
+211,299,918
+153,469,184
+The revenue information above is based on the
+locations of customers.
+上述收入資料乃根據客戶所在地獲
+取。
+。
+(b)
+Non-current assets
+中國(包括香港、澳門及台灣)
+Notes to Financial Statements
+183
+Annual Report 2021
+二零二一年年報
+(10,679)
+975,942
+1,166,268
+financial and contract assets
+虧損╱(虧損轉回)
+Depreciation and amortisation
+折舊及攤銷
+3,053,540
+2,137,464
+7,327,671
+Investments in joint ventures
+於合營公司的投資
+306,611
+4,136,196
+4,442,807
+Investments in associates
+Capital expenditure
+於聯營公司的投資
+資本開支*
+410,473
+4,736,572
+612,308
+1,022,781
+3,436,447
+4,392,564
+Capital expenditure consists of additions to property,
+plant and equipment, investment properties, right-of-
+資本開支包含添置物業、廠房及設備、
+投資物業、使用權資產、其他無形資產
+use assets, other intangible assets and prepayment for
+items of property, plant and equipment.
+及物業、廠房及設備項目的預付款項。
+金融及合同資產的減值
+12,565,583
+233,092
+(b)
+客戶合同收入(續)
+(i) 分類收入資料(續)
+Mobile handset
+components,
+assembly
+Automobiles
+service
+and related
+and other
+products, and
+截至二零二零年
+products
+For the year ended 31 December 2020
+Segments
+十二月三十一日止年度
+分部
+二次充電電池
+及光伏產品
+RMB'000
+人民幣千元
+products* other products*
+手機部件、組裝 汽車、汽車相關
+及其他產品* 產品及其他產品*
+Others
+Total
+其他
+總計
+RMB'000
+RMB'000
+人民幣千元
+人民幣千元
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+photovoltaic
+batteries and
+Rechargeable
+Disaggregated revenue information (continued)
+收入確認時間
+Goods transferred at a point in time
+於某一時間點轉移的貨品
+Services transferred over time
+隨時間轉移的服務
+15,391,154
+10,888
+85,271,646 107,444,411
+274,026 2,215,047
+692,746
+208,799,957
+2,499,961
+Total revenue from contracts with customers 客戶合同收入總額
+15,402,042
+85,545,672
+109,659,458
+Types of goods or services
+692,746 211,299,918
+手機部件、組裝及其他產品和
+汽車、汽車相關產品及其他產
+品的銷售金額包括���售防疫物
+資產品。
+BYD Company Limited
+186
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+5. REVENUE, OTHER INCOME AND GAINS
+(CONTINUED)
+5.
+收入、其他收入及收益(續)
+Revenue from contracts with customers (continued)
+(i)
+Sales of medical protection products are
+included in the sales of Mobile handset
+components, assembly service and other
+products and Automobiles and related products
+and other products.
+Timing of revenue recognition
+貨品或服務類別
+Rendering of services
+59,354,468
+81,957,889
+452,195
+153,469,184
+Timing of revenue recognition
+收入確認時間
+Goods transferred at a point in time
+於某一時間點轉移的貨品
+11,673,278
+Services transferred over time
+隨時間轉移的服務
+31,354
+59,339,624
+14,844
+79,671,491
+2,286,398
+452,195 151,136,588
+2,332,596
+Total revenue from contracts with customers 客戶合同收入總額
+11,704,632
+59,354,468
+81,957,889
+452,195
+153,469,184
+Annual Report 2021
+二零二一年年報
+187
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+11,704,632
+Total revenue from contracts with customers 客戶合同收入總額
+59,123,311
+30,039,086
+銷售商品及建造服務
+提供服務
+11,673,278
+59,339,624
+81,534,303
+452,195
+31,354
+14,844
+423,586
+152,999,400
+469,784
+Total revenue from contracts with customers 客戶合同收入總額
+11,704,632
+59,354,468
+81,957,889
+Sale of goods and construction services
+452,195
+地區市場
+PRC (including Hong Kong, Macau
+中國(包括香港、澳門及台灣)
+4,152,450
+37,822,425
+51,918,803
+452,195
+94,345,873
+and Taiwan)
+Overseas
+海外
+7,552,182
+21,532,043
+153,469,184
+Reconciliation:
+211,299,918
+85,545,672 109,659,458
+收入約人民幣34,852,102,000元(二零二零
+年:人民幣19,412,775,000元),來自手機
+部件、組裝服務及其他產品分部及二次充電
+電池及光伏產品分部對單一客戶以及處於該
+客戶共同控制下的集團實體的銷售。
+5.
+REVENUE, OTHER INCOME AND GAINS
+An analysis of revenue is as follows:
+5.
+收入、其他收入及收益
+收入的分析如下:
+Revenue from contracts with customers
+Sale of goods and construction services
+Rendering of services
+客戶合同收入
+2021
+2020
+二零二一年
+RMB'000
+人民幣千元
+二零二零年
+RMB'000
+人民幣千元
+銷售商品及建造服務
+提供服務
+210,161,229
+152,999,400
+1,138,689
+469,784
+211,299,918
+153,469,184
+Annual Report 2021
+二零二一年年報
+185
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+5. REVENUE, OTHER INCOME AND GAINS 5. 收入、其他收入及收益(續)
+(CONTINUED)
+主要客戶的資料
+Revenue of approximately RMB34,852,102,000 (2020:
+RMB19,412,775,000) was derived from sales made by the
+Mobile handset components, assembly service and other
+products segment and the rechargeable batteries and
+photovoltaic products segment to a single customer and a
+group of entities which are under common control with that
+customer.
+Information about a major customer
+經營分部資料(續)
+非流動資產
+2021
+2020
+二零二一年
+RMB'000
+人民幣千元
+二零二零年
+RMB'000
+人民幣千元
+PRC (including Hong Kong, Macau
+中國(包括香港、澳門及台灣)
+121,102,905 82,344,444
+and Taiwan)
+Overseas
+海外
+2,269,957
+Revenue from contracts with customers
+1,722,989
+84,067,433
+The non-current asset information above is based on
+the locations of the assets and excludes goodwill,
+financial instruments and deferred tax assets.
+上述非流動資產資料乃根據資產所在
+地獲取,惟未計及商譽、金融工具及
+遞延稅項資產。
+BYD Company Limited
+184
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+4. OPERATING SEGMENT INFORMATION
+(CONTINUED)
+4.
+123,372,862
+692,746
+(i)
+客戶合同收入
+15,391,154
+10,888
+85,271,646
+274,026
+108,805,683
+692,746 210,161,229
+853,775
+1,138,689
+Total revenue from contracts with customers 客戶合同收入總額
+15,402,042
+85,545,672 109,659,458
+692,746
+211,299,918
+Geographical markets
+地區市場
+PRC (including Hong Kong, Macau
+中國(包括香港、澳門及台灣)
+7,268,523
+37,537,914 101,905,776
+692,746
+147,404,959
+and Taiwan)
+Overseas
+海外
+8,133,519 48,007,758
+7,753,682
+63,894,959
+Total revenue from contracts with customers 客戶合同收入總額
+15,402,042
+銷售商品及建造服務
+提供服務
+Rendering of services
+Sale of goods and construction services
+貨品或服務類別
+(i)
+分類收入資料
+Mobile handset
+Rechargeable
+components,
+Automobiles
+batteries and
+assembly
+and related
+photovoltaic
+service and
+products, and
+截至二零二一年
+Disaggregated revenue information
+For the year ended 31 December 2021
+十二月三十一日止年度
+分部
+products other products* other products*
+二次充電電池 手機部件、組裝 汽車、汽車相關
+及光伏產品 及其他產品* 產品及其他產品*
+RMB’000
+人民幣千元
+Others
+Total
+其他
+總計
+RMB'000
+RMB'000
+人民幣千元
+人民幣千元
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+Types of goods or services
+Segments
+Segment assets
+Automobiles
+合計
+156,654,865
+對賬:
+各分部間應付款項撇銷
+(6,670,777)
+Corporate and other unallocated liabilities
+企業及其他未分配負債
+41,551,850
+Total liabilities
+負債總額
+191,535,938
+Other segment information:
+其他分部資料:
+Share of (profits)/losses of:
+分佔(溢利)/虧損:
+Joint ventures
+合營公司
+Associates
+聯營公司
+Impairment losses recognised in the statement 損益表中確認的減值虧損淨額
+90,437,555
+(9,193)
+18,884,526
+分部負債
+43,371,219 169,766,113
+284,792,863
+Reconciliation:
+對賬:
+Elimination of intersegment receivables
+各分部間應收款項撇銷
+Elimination of unrealised profit from
+intersegment sales
+各分部間銷售未變現溢利撇銷
+Corporate and other unallocated assets
+企業及其他未分配資產
+(6,670,777)
+(1,880,508)
+19,538,569
+Total assets
+資產總值
+295,780,147
+Segment liabilities
+Reconciliation:
+Elimination of intersegment payables
+47,332,784
+220,469
+211,276
+(38,550)
+6,498,425
+6,814,229
+Investments in associates
+Capital expenditure
+於聯營公司的投資
+454,023
+636,749
+1,090,772
+資本開支*
+23,940,746
+5,413,421
+21,999,747
+51,353,914
+Annual Report 2021
+二零二一年年報
+181
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+OPERATING SEGMENT INFORMATION 4. 經營分部資料(續)
+4.
+315,804
+於合營公司的投資
+Investments in joint ventures
+14,108,382
+(27,431)
+(65,981)
+102,824
+320,736
+377,436
+800,996
+of profit or loss, net
+Impairment losses/(losses reversed) on
+金融及合同資產的減值
+71,655,531
+100,112
+359,060
+444,553
+financial and contract assets
+虧損(虧損轉回)
+Depreciation and amortisation
+折舊及攤銷
+3,988,747
+2,884,899
+7,234,736
+(14,619)
+(CONTINUED)
+分部資產
+人民幣千元
+245,692,519
+(29,550,124)
+(1,807,599)
+(3,034,878)
+211,299,918
+Segment results
+分部業績
+432,509
+1,853,047
+3,187,865
+35,434
+5,508,855
+Reconciliation:
+Elimination of intersegment results
+Interest income
+Dividend income and unallocated gains
+Corporate and other unallocated expenses
+Finance costs (other than interest on
+lease liabilities)
+股息收入及未分配收益
+727,493
+企業及其他未分配開支
+89,816,913 115,751,091
+收入 - 向外界客戶銷售
+2,443
+1,807,599
+scrap materials, lease and others
+的其他收入)
+Taxes and surcharges
+税金及附加費
+26,162
+379,718
+2,596,694
+32,304
+3,034,878
+Reconciliation:
+Elimination of intersegment sales
+Elimination of other gross income
+Elimination of taxes and surcharges
+對賬:
+各分部間的銷售撇銷
+其他總收入撇銷
+稅金及附加費撇銷
+Revenue sales to external customers
+39,397,022
+融資成本(不包括租賃負債利息)
+對賬:
+各分部間的業績撇銷
+assembly
+products
+photovoltaic
+service and
+and other
+products other products
+products
+Corporate
+and others
+Total
+截至二零二一年
+Year ended 31 December 2021
+十二月三十一日止年度
+二次充電電池
+及光伏產品
+RMB’000
+人民幣千元
+手機部件、組裝
+及其他產品
+RMB’000
+人民幣千元
+汽車、汽車相關
+產品及其他產品
+RMB'000
+人民幣千元
+企業
+及其他
+RMB'000
+人民幣千元
+合計
+RMB'000
+batteries and
+and related
+components,
+Rechargeable
+利息收入
+(1,529,009)
+631,841
+2,820,434
+(1,074,858)
+(1,839,260)
+Profit before tax
+除稅前溢利
+4,518,003
+Segment assets
+BYD Company Limited
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+4. OPERATING SEGMENT INFORMATION 4. 經營分部資料(續)
+(CONTINUED)
+Mobile handset
+Automobiles
+180
+RMB'000
+人民幣千元
+Mobile handset
+batteries and
+473,871
+184,013,830
+(27,416,139)
+(974,092)
+(2,154,415)
+Revenue sales to external customers
+收入 - 向外界客戶銷售
+153,469,184
+Segment results
+分部業績
+809,900
+6,260,670
+2,906,979
+1,410
+9,978,959
+Reconciliation:
+Elimination of intersegment results
+Interest income
+Dividend income and unallocated gains
+Corporate and other unallocated expenses
+74,887,896 86,180,214
+Finance costs (other than interest on
+22,471,849
+其他總收入撇銷
+356,288
+254,445
+1,142
+974,092
+scrap materials, lease and others
+的其他收入)
+Taxes and surcharges
+稅金及附加費
+20,679
+332,211
+1,780,991
+20,534
+2,154,415
+Reconciliation:
+Elimination of intersegment sales
+Elimination of other gross income
+Elimination of taxes and surcharges
+對賬:
+各分部間的銷售撇銷
+稅金及附加費撇銷
+lease liabilities)
+股息收入及未分配收益
+企業及其他未分配開支
+Automobiles
+batteries and
+photovoltaic
+assembly
+service and
+and related
+截至二零二零年
+Year ended 31 December 2020
+十二月三十一日止年度
+products
+二次充電電池
+及光伏產品
+RMB'000
+人民幣千元
+other products
+手機部件、組裝
+及其他產品
+RMB'000
+人民幣千元
+other products
+汽車、汽車相關
+產品及其他產品
+products and
+Corporate
+and others
+Total
+企業
+RMB'000
+人民幣千元
+及其他
+RMB'000
+人民幣千元
+components,
+Rechargeable
+Mobile handset
+(CONTINUED)
+融資成本(不包括租賃負債利息)
+對賬:
+各分部間的業績撇銷
+(910,416)
+利息收入
+214,613
+2,190,437
+(1,523,627)
+(3,067,379)
+362,217
+Profit before tax
+6,882,587
+BYD Company Limited
+182
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+4. OPERATING SEGMENT INFORMATION 4. 經營分部資料(續)
+除稅前溢利
+Rechargeable
+其他(包括來自出售廢料、租賃等
+27,416,139
+分部收入(附註5)
+5. REVENUE, OTHER INCOME AND GAINS 5. 收入、其他收入及收益(續)
+Segment revenue (note 5)
+人民幣千元
+RMB'000
+合計
+及其他
+RMB'000
+人民幣千元
+RMB’000
+人民幣千元
+企業
+汽車、汽車相關
+產品及其他產品
+手機部件、組裝
+及其他產品
+RMB'000
+人民幣千元
+人民幣千元
+及光伏產品
+RMB’000
+十二月三十一日止年度
+Year ended 31 December 2021
+二次充電電池
+截至二零二一年
+Total
+and others
+Sales to external customers
+Corporate
+向外界客戶銷售
+85,545,672 109,659,458
+photovoltaic
+截至二零二零年
+Year ended 31 December 2020
+十二月三十一日止年度
+products
+二次充電電池
+及光伏產品
+RMB'000
+人民幣千元
+other products
+手機部件、組裝
+及其他產品
+RMB'000
+人民幣千元
+other products
+汽車、汽車相關
+產品及其他產品
+1,043,002
+其他(包括來自出售廢料、租賃等
+Others including other income from sales of
+29,550,124
+3,261,847
+3,362,461
+22,925,816
+各分部間的銷售
+Intersegment sales
+211,299,918
+692,746
+15,402,042
+products
+products other products
+and other
+and others
+529,062
+Total
+RMB'000
+人民幣千元
+企業
+及其他
+RMB'000
+人民幣千元
+合計
+RMB 000
+人民幣千元
+Segment revenue (note 5)
+分部收入(附註5)
+Sales to external customers
+向外界客戶銷售
+11,704,632
+Intersegment sales
+各分部間的銷售
+10,384,321
+59,354,468 81,957,889
+14,844,929
+452,195
+153,469,184
+2,186,889
+Corporate
+products and
+and related
+service and
+service and
+photovoltaic
+products
+assembly
+batteries and
+and related
+components,
+Rechargeable
+Automobiles
+Others including other income from sales of
+Mobile handset
+4.
+OPERATING SEGMENT INFORMATION 4. 經營分部資料(續)
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+179
+Annual Report 2021
+二零二一年年報
+components,
+assembly
+(CONTINUED)
+(CONTINUED)
+Geographical markets
+客戶合同收入(續)
+Revenue from contracts with customers
+人民幣千元
+RMB'000
+總計
+企業及其他
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+Total
+and others
+other products
+汽車、汽車相關
+產品及其他產品
+other products
+手機部件、組裝
+及其他產品
+RMB'000
+人民幣千元
+products
+二次充電電池
+及光伏產品
+RMB'000
+人民幣千元
+分部
+Segment
+十二月三十一日止年度
+Year ended 31 December 2020
+Corporate
+products and
+service and
+photovoltaic
+截至二零二零年
+and related
+assembly
+batteries and
+Automobiles
+components,
+Rechargeable
+Mobile handset
+客戶合同收入
+(i) 分類收入資料(續)
+外界客戶
+59,354,468
+Revenue from contracts with customers (continued)
+3,645,439
+6,375,288
+銷售商品及建造服務
+Sale of goods and construction services
+計入報告期初合同負債確認
+的收入:
+Revenue recognised that was included
+in contract liabilities at the beginning
+of the reporting period:
+人民幣千元
+RMB'000
+二零二零年
+2020
+2021
+二零二一年
+RMB'000
+人民幣千元
+下表呈列於本報告期間確認並計入報
+告期初合同負債及就於過往期間達成
+的履約責任確認的收入金額:
+from performance obligations satisfied in previous
+periods:
+The following table shows the amounts of revenue
+recognised in the current reporting period that
+were included in the contract liabilities at the
+beginning of the reporting period and recognised
+153,469,184
+(27,416,139)
+Total revenue from contracts with customers 客戶合同收入總額
+Intersegment adjustments and eliminations 各分部間的調整及撇銷
+27,416,139
+153,469,184
+452,195
+81,957,889
+2,186,889
+14,844,929
+10,384,321
+各分部間的銷售
+Intersegment sales
+11,704,632
+客戶合同收入(續)
+External customers
+(i)
+二次充電電池
+十二月三十一日止年度
+分部
+Segment
+Year ended 31 December 2021
+Total
+and others
+other products
+products other products
+截至二零二一年
+Corporate
+products and
+service and
+and related
+及光伏產品
+RMB'000
+人民幣千元
+assembly
+Automobiles
+components,
+Rechargeable
+Mobile handset
+disclosed in the segment information:
+以下載列客戶合同收入與分部資料披
+露金額的對賬:
+from contracts with customers to the amounts
+Set out below is the reconciliation of the revenue
+分類收入資料(續)
+(i)
+Disaggregated revenue information (continued)
+Disaggregated revenue information (continued)
+(i)
+batteries and
+手機部件、組裝
+及其他產品
+RMB'000
+人民幣千元
+photovoltaic
+汽車、汽車相關
+產品及其他產品
+Revenue from contracts with customers (continued)
+5.
+5. REVENUE, OTHER INCOME AND GAINS
+(CONTINUED)
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+188
+BYD Company Limited
+211,299,918
+(29,550,124)
+29,550,124
+211,299,918
+收入、其他收入及收益(續)
+Revenue from contracts with customers 客戶合同收入
+15,402,042 85,545,672 109,659,458
+22,925,816 3,362,461 3,261,847
+Total revenue from contracts with customers 客戶合同收入總額
+Intersegment adjustments and eliminations 各分部間的調整及撇銷
+各分部間的銷售
+外界客戶
+Intersegment sales
+External customers
+692,746
+RMB'000
+人民幣千元
+總計
+企業及其他
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+在疫情反覆、內需不足和供應鏈緊張的背景下,中
+國汽車工業逆勢實現了正增長。根據中國汽車工業
+協會的數據,二零二一年全年中國汽車產銷量分別
+為2,608.2萬輛和2,627.5萬輛,結束了自2018年
+以來連續三年的下降局面,同比小幅增長3.4%和
+3.8%。其中,新能源汽車市場呈現出爆發式增長,
+全年產銷量分別為354.5萬輛和352.1萬輛,同比
+均增長約1.6倍,全年滲透率大幅攀升八個百分點
+至13.4%,十二月單月滲透率更高達19.1%。中國
+新能源汽車行業已經從政策驅動轉向市場拉動的新
+階段,呈現出市場規模和質量雙提升的良好發展態
+勢。此外,中國新能源汽車產業快速發展,逐步成
+為全球汽車產業電動化進程的重要引擎及創新高
+地。自主品牌強勢崛起,產品供給豐富多樣,市場
+份額顯著增加,供應鏈和產業鏈亦進一步完善並形
+成優勢,重塑汽車工業發展新格局。同期,歐洲新
+能源汽車市場出現了井噴式增長,而美國作為新能
+源汽車的主要市場之一也表現了極強的發展潛質。
+BYD Company Limited
+Annual Report 2021
+二零二一年年報
+二零二一年全球疫情持續反覆,國際環境更趨複雜
+嚴峻,全球經濟在風險與挑戰下艱難復蘇。其中,
+中國疫情常態化防控處於全球領先地位,經濟發展
+展現出更強的韌性及活力,外資外貿持續景氣,新
+舊動能轉換加速,高新技術產業持續向好,實現了
+「十四五」的良好開局。但受疫情反覆、大宗商品價
+格上漲等多方面影響,中國宏觀經濟下行的壓力自
+二季度開始加大,消費和投資均表現疲弱,經濟復
+蘇進程放緩。據國家統計局公布的數據顯示,二零
+二一年全年國內生產總值同比增長8.1%。總體上,
+全年經濟呈現出「前高後低」、「結構分化」和「壓力
+加劇」的運行特徵。
+15
+手機部件及組裝業務
+In order to further promote the sustainable and high quality
+development of the new energy vehicle industry, the "Notice on
+Further Improving the Financial Subsidies for the Promotion and
+Application of New Energy Vehicles", which was jointly issued by
+four ministries and commissions has been formally implemented
+in January. Steady decline of subsidies has been realized with
+transparency, predictability and continuity, creating a stable
+policy environment for the development of the new energy
+vehicle industry; At the same time, the "Decision on Revising the
+Measures for the Parallel Management of the Scores of Average
+Fuel Consumption of Passenger Car Enterprises and New Energy
+Vehicles", jointly issued by five ministries and commissions has
+also been formally implemented. The new dual-scores policy
+has become more stringent, which further accelerated the
+adjustment of industrial structure, help to facilitate transformation
+and upgrading; Under the objectives of the "peak carbon
+dioxide emissions in 2030 and carbon neutrality in 2060", at the
+conference of the Political Bureau of the CPC Central Committee
+in July, it was requested to fully develop the potential of the
+domestic market and support the accelerated development of
+new energy vehicles; In September, the National Development
+and Reform Commission issued the Plan for Improving the Dual
+Control System of Energy Consumption Intensity and Volume,
+which clearly defined the guidelines of the promotion of clean,
+low-carbon, safe and efficient utilization of energy.
+Handset Components and Assembly Business
+In 2021,the year-on-year growth rate of quarterly shipment of
+global smart phones moved from high to low, and 5G continued
+to be the growth driver of the mobile phone market. According
+to the statistics from IDC, a market research institute, in 2021,
+the shipment of global smart phones increased by 5.7% to
+1,350 million units year on year. However, the overall rise was
+slower than the growth rate of 19.4% in the first half of the
+year. According to the data released by the China Academy
+of Information and Communications Technology,in 2021,the
+shipment of domestic smart phones reached 351 million units,
+representing a fast year-on-year growth of 13.9%; in particular, the
+shipment of 5G smart phones was 266 million units, representing
+為了進一步推動新能源汽車產業的可持續和高質量
+發展,一月,四部委聯合發佈的《關於進一步完善新
+能源汽車推廣應用財政補貼政策的通知》正式實施,
+補貼平穩退坡繼續得到落實,保持了透明性、可預
+見性和延續性,為新能源汽車行業的發展創造了穩
+定的政策環境;同時,五部委聯合發佈的《關於修改
+〈乘用車企業平均燃料消耗量與新能源汽車積分並行
+管理辦法>的决定》亦正式施行,新版雙積分政策趨
+嚴,進一步加速產業結構調整及轉型升級;在「二零
+三零年碳達峰,二零六零年碳中和」目標下,七月,
+中央政治局會議要求,要挖掘國內市場潛力,支持
+新能源汽車加快發展;九月,國家發改委印發《完善
+能源消費強度和總量雙控制度方案》,明確了推動能
+源清潔低碳安全高效利用的方針。
+汽車業務
+二零二一年,全球智能手機季度出貨量同比增速呈
+現前高後低的形態,5G繼續成為手機市場的拉動力
+量。根據市場研究機構IDC統計,二零二一年全球
+智能手機出貨量同比增長5.7%至13.5億部,但整體
+漲勢較上半年19.4%的增速有所放緩。中國信息通
+信研究院發表的數據顯示,二零二一年國內手機市
+場整體出貨量保持快速增長達3.51億部,同比增長
+13.9%,其中5G手機出貨量為2.66億部,同比增長
+63.5%。遠程辦工趨勢持續,在線娛樂需求不減,
+筆記本電腦、平板電腦、遊戲硬件等智能產品銷量
+維持一定熱度。根據IDC公布的最新資料,二零二
+Management Discussion and Analysis
+管理層討論與分析
+行業分析及回顧
+管理層討論與分析
+Against the background of repeated pandemic, insufficient
+domestic demand and constrained supply chain, China's
+automobile industry has achieved positive growth. According
+to the statistics from the China Association of Automobile
+Manufacturers, China's automobile production and sales volume
+in 2021 were 26.082 million units and 26.275 million units,
+respectively, put an end to the three-year decline since 2018, with
+a slight year-on-year increase of 3.4% and 3.8%. Among them, the
+market of new energy vehicle showed explosive growth. In 2021,
+the annual production and sales volume of new energy vehicle
+were 3.545 million units and 3.521 million units respectively,with
+a year-on-year increase of approximately 1.6 times. The annual
+penetration rate rose significantly by 8 percentage to 13.4%,and
+the penetration rate in December was as high as 19.1%. China's
+new energy vehicle industry has developed from policy-driven
+to the new stage of market-driven, showing a good developing
+trend of both market scale and quality. In addition, China's
+new energy vehicle industry developed rapidly and gradually
+became an important engine and innovation highland in the
+electrification progress of the global automobile industry. With
+strong rise of self-owned brands, product supply has become
+rich and diverse, therefore promote the market share increased
+significantly. Moreover, the supply chain and industrial chain also
+further improved, which has become the advantage for the whole
+industry, hence reshaped the automobile industry structure.
+In 2021, the COVID-19 pandemic continuously recurred globally.
+The international environment became more complex and severe,
+and the global economy struggled to recover under risk and
+challenge. Among them, China's normalized pandemic prevention
+and control was in a leading position over the world, and its
+economic development has shown greater resilience and vitality.
+Foreign investment and trade continued to boom, the transition
+from old economic engines to new has accelerated, and the high-
+tech industry has continued to progress well, representing a good
+beginning of the “14th Five-Year Plan”. However, affected by the
+recurrence of the COVID-19, the rising prices of commodities and
+other aspects, the downward pressure on China's macro economy
+had enhanced since the second quarter. Both consumption and
+investment were weak, and the process of economic recovery
+slowed down. According to the data released by the National
+Bureau of Statistics, the annual GDP in 2021 increased by
+8.1% year-on-year. In general, the economy of the whole year
+is characterized by “high-to-low declining trend”,“structural
+differentiation” and “intensified pressure”.
+Automobile Business
+INDUSTRY ANALYSIS AND REVIEW
+Management Discussion and Analysis
+比亞迪股份有限公司
+14
+BYD Company Limited
+13
+中國深圳,二零二二年三月二十九日
+Shenzhen, the PRC, 29 March 2022
+主席
+王傳福
+In the same period, the European new energy vehicle market
+experienced a blowout growth, while the United States, one
+of the main new energy vehicle markets, also showed strong
+development potential.
+16
+At the same time, the Group insists on developing Plug-in Hybrid
+Electric vehicles and Battery Electric vehicle at the same time.
+By improving and iterating the innovation of technology, BYD
+realized the joint development of "DM-i Super Hybrid", "Blade
+Batteries” and “e-Platform 3.0” technologies, which contributed
+to the important milestone of the Group's 1,000,000th new energy
+vehicle getting off the assembly line during the year.
+Management Discussion and Analysis
+管理層討論與分析
+最後,本人謹代表本集團感謝各位忠誠客戶一直以
+來的支持及厚愛,同時亦感激各位業務夥伴、投資
+者及股東的信任,並對全體員工在過去一年堅守崗
+位,默默耕耘和奉獻致以衷心感謝。本集團將繼往
+開來,與時俱進,把握行業機遇,發揮自身優勢,
+致力推進本集團的長期可持續發展,為股東創優增
+值。
+在新能源乘用車領域,本集團為展現與時俱進的品
+牌理念,於二零二一年之始發佈比亞迪汽車全新標
+識,以更加開放的姿態擁抱汽車工業百年變革,努
+力走出一條從自主創新到全面開放創新之路,打造
+全新價值的汽車品牌。
+large sedan in China's automobile industry to exceed 10,000
+units. It is also the first self-owned brand of new energy vehicle
+to sell more than 100,000 medium/large sedan per year, and the
+first to break the glass ceiling of new energy vehicles of domestic
+brands that priced higher than RMB200,000, successfully filling
+the gap of self-owned brands in the hot selling models in the field
+of medium/large sedan. During the period,through continuous
+OTA(Over-The-Air technology)upgrading,“Han”has added
+practical functions such as RPA (Remote Parking Assist) external
+automatic parking assist and power saving mode, realizing
+vehicle self-evolution and providing consumers with a richer and
+more convenient driving experience. The continuous hot sales of
+"Han" reflect the Group's excellent product strength and help the
+Group's brand influence continue to expand.
+During the year, “Han”, as the Group's high-end flagship
+product, leaded a new round of model cycle. "Han" integrates
+the characteristics of “safety,performance and luxury”. Since
+its launch in July 2020, the sales volume has repeatedly hit all-
+time highs, creating a precedent for the monthly sales of medium/
+In the field of new energy passenger vehicles, to show the brand
+concept of advance with the times, the Group released a brand-
+new logo of BYD automobile at the beginning of 2021 to embrace
+the once-in-a-century reforms of the automobile industry in a more
+open attitude, embark on a path from independent innovation to
+comprehensive open innovation, and build an automobile brand of
+brand-new value.
+管理層討論與分析
+Management Discussion and Analysis
+比亞迪股份有限公司
+18
+BYD Company Limited
+比亞迪作為新能源汽車行業的先行者和引領者,秉
+持着「技術為王、創新為本」的發展理念,精準定位
+市場、持續深耕技術,加速集團全面電動化發展進
+程,為新能源汽車產業進入高質量發展新階段不斷
+加碼,也為實現中國品牌和中國製造的崛起助力。
+二零二一年,比亞迪新能源汽車通過技術創新與應
+用,銷量節節攀升,十二月雖受疫情影響,單月銷
+量仍創下歷史新高。根據中國汽車工業協會公佈的
+數據,二零二一年本集團新能源汽車市場佔有率達
+17.1%,年內增長近8%,銷量遙遙領跑國內新能源
+汽車市場,並穩居全球前列,全系產品贏得了消費
+者的青睞,品牌影響力持續擴大。
+汽車業務
+比亞迪股份有限公司(「比亞迪」或「本公司」及其附
+屬公司統稱「本集團」或「集團」)主要經營包括新能
+源汽車、傳統燃油汽車在內的汽車業務,手機部件
+及組裝業務,二次充電電池及光伏業務,並積極利
+用自身技術優勢拓展城市軌道交通及其他業務。於
+二零二一年,本集團實現收入約人民幣211,300百
+萬元,同比增長37.68%,其中汽車、汽車相關產品
+及其他產品業務的收入約人民幣109,659百萬元,
+同比增長33.80%;手機部件、組裝及其他產品業務
+的收入約人民幣85,546百萬元,同比增長44.13%;
+二次充電電池及光伏業務的收入約人民幣15,402百
+萬元,同比增長31.59%。三大業務佔本集團總收入
+的比例���別為51.90%、40.49%和7.29%。
+業務回顧
+As a pioneer and leader in the new energy vehicle industry, BYD
+adheres to the development concept of "Technology-focused
+and Innovation-oriented", accurately locates the target market
+continuously deepen technology development accelerates the
+Group's electrification development process in an all-round
+manner and boosts the new energy vehicle industry enters a
+high-quality developing stage. In 2021, through technological
+innovation and application, the sales volume of BYD's new
+energy vehicle increased continuously. Although affected by the
+COIVD-19 in December, the per month sales still hit a record
+high. According to the statistics from the China Association of
+Automobile Manufacturers, the Group's market share of new
+energy vehicles amounted to 17.1% in 2021, representing an
+increase of nearly 8% within the year. The sales volume of BYD is
+in the leading position of the domestic new energy vehicle market,
+and tops the global rankings. The consumers have demonstrated
+strong preference toward the Group's whole series of products,
+which further enhanced the brand influence.
+Automobiles Business
+BYD Company Limited (“BYD” or “the Company”together with its
+subsidiaries, "the Group") is principally engaged in automobile
+business which includes new energy vehicles and traditional fuel-
+engined vehicles, handset components and assembly services,
+as well as rechargeable battery and photovoltaics business.
+Meanwhile, with its technological superiority, the Group actively
+develops urban rail transportation business segment. In 2021, the
+Group recorded a revenue of approximately RMB211,300 million,
+representing a year-on-year increase of 37.68%,among which,
+the revenue from the automobiles and related products, and
+other products amounted to approximately RMB109,659 million,
+representing a year-on-year increase of 33.80%; the revenue from
+the handset components, assembly service and other products
+amounted to approximately RMB85,546 million, representing
+a year-on-year increase of 44.13%;and the revenue from the
+rechargeable batteries and photovoltaics business amounted to
+approximately RMB15,402 million, representing a year-on year
+increase of 31.59%.These three business segments accounted
+for approximately 51.90%,40.49% and 7.29% of the Group's total
+revenue, respectively.
+BUSINESS REVIEW
+17
+管理層討論與分析
+Management Discussion and Analysis
+Annual Report 2021
+二零二一年年報
+二零二一年,伴隨全球經濟的復蘇趨勢,全球消費
+類電子產品銷量同比略有提升,帶動市場對上游電
+池需求增加。光伏領域,節能減排成為全球共識,
+為行業發展營造良好環境,二零二一年全球光伏装
+機量穩步提升。其中,在國內「雙碳」戰略目標大背
+景下,政策層面持續助力,光伏應用規模擴大。同
+時,儲能行業乘借新能源大發展的勢頭亦增速明顯。
+二次充電電池及光伏業務
+一年,全球PC市場出貨量超過3.49億台,創下二零
+一二年以來的新高,同比增長14.8%;全球平板計
+算機出貨量為1.69億台,整體市場規模依然龐大。
+在國內尚處於發展起步階段的智能家居設備市場,
+目前滲透率較低,但正以快速步伐發展。IDC的數
+據顯示,二零二一年中國出貨量將達2.3億台,同比
+增長14.6%。
+In 2021, along with the recovery of the global economy, the global
+consumer electronic sales recorded a slight increase year-on-
+year, boosting the demand for upstream batteries on the market.
+In the field of photovoltaics, energy saving and emission reduction
+has become a global consensus, building a favorable environment
+for the industry development therefore promote a steady increment
+of global photovoltaics installation in 2021. In particular, under the
+general background of the “dual-carbon” strategic target in China,
+benefit from the continuous policy support, the photovoltaics
+application has been scaled out. Meanwhile, leveraging on the
+upwind of great development of new energy, the energy storage
+industry achieved a significant growth.
+Rechargeable Batteries and Photovoltaic Business
+a year-on-year increase of 63.5%. With the trend of remote work
+continued, the demand for online entertainment remained robust,
+and the sales of intelligent products such as notebook computers,
+tablet computers and game hardware remained brisk. According
+to the latest data from IDC, in 2021, the shipment of the global
+PC market exceeded 349 million units, scaling a new high since
+2012 and representing a year-on-year increase of 14.8%; and that
+of the global tablet computers reached 169 million units, pointing
+to a huge scale of the overall market. With respect to domestic
+smart home equipment market, which is still in its infancy, the
+penetration rate, though being low for the moment, is growing at
+a rapid pace. According to the statistics from IDC in 2021,the
+shipment of China's PC market would reach_230 million_units, a
+14.6% increase over the same period of last year.
+REV
+比亞迪股份有限公司
+未來,本集團將繼續深耕,堅持技術創新和核心技
+術自主可控,推出更多優質產品,助力「雙碳」目標
+的推進,為城市發展提供多元化的綠色整體解決方
+案,促進低碳社會發展。同時,積極推進本集團市
+場化戰略,構建產業合作共贏生態,實現集團的長
+久繁榮和基業長青,將本集團打造成中國工業的百
+年企業。
+主席報告書
+Wang Chuan-fu
+Annual Report 2021
+二零二一年年報
+年內,伴隨著新能源汽車行業的爆發,本集團精準
+把握發行窗口期,成功完成合計近438億港元的新H
+股閃電配售,吸引了全球眾多頂級長線、主權基金
+參與,為本集團資本結構和財務結構進一步優化提
+供良機。
+對外合作方面,本集團繼續以戰略投資為紐帶實現
+產業賦能,加速打造產業生態,實現合作共贏。
+二零二一年,本集團繼續積極推進市場化發展進
+程,旗下子公司比亞迪半導體分拆上市進程穩步推
+進。分拆上市將為比亞迪半導體成為高效、智能、
+集成的新型半導體供應商打下堅實基礎。
+在不斷鞏固國內新能源乘用車市場地位的同時,本
+集團國際化戰略再提速。年內,本集團新能源乘用
+車正式佈局歐洲市場並於全球範圍內多次亮相,為
+本集團全球化佈局打下基礎。
+為順應市場發展趨勢,滿足消費者多元化的消費需
+求,十一月,「海洋網」正式發佈,作為本集團旗下
+的綜合型銷售網絡,從年輕消費者的習慣出發,主
+動延伸用戶觸點,以滿足目標客群更加多元化的消
+費需求。
+During the year, with the burst of new energy vehicle industry, the
+Group successfully completed lightning placements which raised
+an aggregate gross proceeds of nearly HK$43.8 billion of new
+H shares by accurately grasping the window period of issuance,
+attracting many top long-term and sovereign funds in the world,
+and providing a good opportunity to further optimize the Group's
+capital and financial structure.
+In terms of external cooperation, the Group continued to use
+strategic investment as an approach to achieve industrial
+empowerment, therefore, accelerate the development of industry's
+ecosystem, which help to forge a win-win cooperation.
+In 2021, the Group continued to actively promote the
+market-oriented development process. Its subsidiary BYD
+Semiconductor's spin-off underwent steady progress. The spin-
+off will help BYD Semiconductor form a solid foundation for
+its becoming of an efficient, intelligent, and integrated new
+semiconductor supplier.
+While the Group continued consolidating its position in the
+domestic new energy passenger vehicle market, it further sped
+up_its internationalization strategy. During the year, the Group's
+new energy vehicles formally entered the European market and
+unveiled around the world, laying a foundation for the Group's
+global strategy.
+In order to meet the market trend and satisfy the diversified needs
+of consumers, in November, the“Marine”was officially launched.
+Centered with the consumption habits of younger generations, the
+Group reaches more customers as an integrated sales network,
+therefore to satisfy more diversified consumption needs of the
+targeted customer base.
+主席報告書
+Chairman's Statement
+比亞迪股份有限公司
+10
+BYD Company Limited
+9
+本集團堅持插電式混動和純電動共同發展,實現了
+「DM-i超級混動」、「刀片電池」和「e平台3.0」技術
+共同發力,助力本集團於年內迎來第100萬輛新能
+源汽車的下線。插電式混動汽車領域,「DM-i超級
+混動」車型「秦PLUS DM-i」、「宋PLUS DM-i」、「唐
+DM-i」和「宋Pro DM-i」等車型一經發佈即迎來訂單
+火爆、供不應求的良好局面,銷量逐月攀升,累計
+未交付訂單屢創出新高。純電動汽車領域,四月,
+本集團旗下新能源純電動乘用車全系換裝具有超級
+安全、超級續航、超級強度等技術創新的「刀片電
+池」,進一步提升產品的獨特競爭力,助力本集團純
+電動乘用車銷量屢創新高。此外,搭載「e平台3.0」
+的「海豚」正式上市,銷量一路攀升。
+在乘用車領域,本集團於二零二一年之始發佈比亞
+迪汽車全新標識,以更加開放的姿態擁抱汽車工業
+百年變革。高端旗艦車型「漢」打破中國自主品牌中
+大型轎車的多項紀錄,月銷量屢創新高,並通過持
+續OTA升級,為消費者提供了更加豐富便捷的駕乘
+體驗,助力本集團品牌影響力持續擴大。
+本集團作為新能源汽車行業的先行者和引領者,年
+內,通過技術創新與應用,新能源汽車銷量節節攀
+升,全年銷量創下歷史新高,遙遙領跑國內新能源
+汽車市場,並穩居全球前列。
+The Group insists on developing Plug-in Hybrid Electric vehicles
+and Battery Electric vehicle at the same time, it realized the
+joint_development of“DM-i Super Hybrid”,“Blade Batteries” and
+“e- Platform 3.0”technologies, which contributed to the important
+milestone of the Group's 1,000,000th new energy vehicle getting
+off the assembly line during the year. In the field of plug-in hybrid
+vehicles,“DM-i super hybrid" models, including “Qin PLUS DM-
+i”,“Song PLUS DM-i”,“Tang DM-i” and “Song Pro DM-i”,were
+launched together and once released, the orders boomed with the
+demand exceeded the supply. The deliver unites rising month by
+month, while cumulative undelivered orders kept hitting new highs.
+In the field of battery electric vehicles, in April, the full series of
+the Group's new energy battery electric passenger vehicles were
+equipped with "blade batteries", which features the technology
+innovations such as super safety, super traveling range and super
+strength, further enhanced the unique competitiveness of the
+products, hence promote the sales of battery electric vehicles
+of the Group recording new highs. In addition, the “Dolphin”
+equipped with “e-platform 3.0” was officially launched, and its
+sales volume had been on the rise.
+In the passenger vehicle sector, with an open attitude, the Group
+released a brand-new logo of BYD automobile at the beginning
+of 2021, to embrace the once-in-a-century reformation of the
+automobile industry. The high-end flagship model of “Han”has
+broken many records for medium and large sedans of Chinese
+brands, with monthly sales repeatedly setting new highs. Through
+continuous OTA upgrade, it has provided consumers with richer
+and more convenient driving experience and contributed to on-
+going expansion of the brand influence of the Group.
+As a pioneer and leader in the new energy vehicle sector,
+throughout the year, the Group has recorded a steady rise in its
+sales of new energy vehicles based on technological innovation
+and application, with annual sales hit a record high. The sales far
+outpaced others in the domestic new energy passenger vehicle
+market, and ranked among the top in the world.
+Board suggested to distribute an ending dividend of RMB0.105
+per share (tax-inclusive).
+截至二零二一年十二月三十一日止年度,本集團營
+業額為人民幣211,300百萬元。母公司擁有人應佔
+溢利為人民幣3,045百萬元,下滑28%,每股盈利為
+人民幣1.06元。董事會建議派發末期股息每股人民
+幣0.105元(含稅)。
+年內,「漢」作為本集團引領新一輪車型周期的高端
+旗艦產品,集「安全、性能、豪華」三大標桿於一
+體,自二零二零年七月上市以來銷量屢創新高,開
+創了中國汽車工業中大型轎車月銷破萬的先河,也
+是中國品牌首款年銷破10萬的中大型轎車,並最先
+打破售價20萬以上新能源自主品牌轎車的銷量天花
+板,成功填補了自主品牌在中大型轎車領域熱銷車
+型的空白。期間,「漢」通過持續OTA(Over-The-Air
+technology)升級,增加了RPA(Remote Parking
+Assist)車外自動泊車輔助及保電模式等實用功能,
+實現了車輛自我進化,為消費者提供了更加豐富便
+捷的駕乘體驗。「漢」的持續熱銷體現了本集團優異
+的產品力,並助力本集團品牌影響力持續擴大。
+Chairman's Statement
+Annual Report 2021
+二零二一年年報
+For the year ended 31 December 2021, the Group realized
+an operating revenue of RMB211,300 million. The earnings
+attributable to the owners of the parent company were RMB3,045
+million,down 28%, with the earnings per share of RMB1.06. The
+11
+Chairman
+Chairman's Statement
+Responded positively to "Dual-Carbon" by giving full play to
+its unique advantages in the field of new energy, the Group
+launched comprehensive green solutions including new energy
+vehicle,photovoltaics, energy storage, SkyRail and SkyShuttle,
+continuously explored its own potentials of energy saving and
+emission reduction, therefore, strived to become the benchmark
+enterprise in green manufacturing. In addition, Facing with the
+natural disaster and recurring pandemic, BYD actively shoulders
+the social responsibility, not only did it make contribution by
+funding and donating epidemic prevention materials, but it also
+combine its business feature, open all the Automobile Sales
+Servicshop(the “4S shop") in Zhengzhou as emergency shelters
+during heavy rainfall at the hard times. Moreover, it integrated
+technologies into healthcare services to provide more reliable,
+powerful and green support for the prevention and control of the
+pandemic.
+Lastly, on behalf of the Group, I would like to express sincere
+gratitude to our loyal customers for their persistent support. I
+also give my heartfelt thanks to all business partners, investors
+and shareholders for their trust. Besides, I would like to present
+my heartfelt gratitude to all staff for their consistent hard work,
+sacrifice and contribution in the past year. the Group will build on
+past achievements and keep pace with the times, seize market
+opportunities and leverage its own advantages to promote the
+long-term healthy development of the Group, therefore, maximize
+returns for shareholders.
+In the future, BYD will dive deeper in technology innovation,
+so as to increase the independency and controllability over
+core technologies, launch more high-quality products, help
+achieve the goal of “Dual-Carbon", provide diversified green
+integrated solutions for urban development as well as promote
+the development of a low-carbon society. Meanwhile, BYD will
+actively promote the market-oriented strategy, build an ecosystem
+of industry win-win cooperation, and realize prolonged prosperity
+and sustainable growth of the Group, therefore, make the Group a
+century-old industrial enterprise in China.
+主席報告書
+Chairman's Statement
+Annual Report 2021
+二零二一年年報
+二次充電電池方面,本集團將積極推進新技術應
+用,拓展客戶基礎,推動相關產品市場份額的持續
+提升。光伏業務方面,本集團將緊抓行業發展契
+機,着力推動產品轉型升級及技術突破,以全新起
+點來迎接全新爆發性增長機遇。
+手機部件及組裝業務方面,本集團繼續技術積累為
+遠期成長空間提供持久驅動力,穩居安卓領域龍頭
+地位的同時,繼續深挖北美大客戶核心產品業務機
+會,為未來的營收增長爆發奠定堅實的基礎。另一
+方面,5G及人工智能技術融合為新型智能產品及汽
+車智能系統市場迎來跨越發展窗口期,本集團前期
+佈局的智能家居、物聯網、無人機、機器人、電子
+霧化等多個領域將借勢突破,預期實現持續高速增
+長。隨著汽車行業加速革新,利好政策接連出台,
+汽車智能系統業務規模未來成長可期。
+本集團將結合自身業務特點,持續通過戰略投資在
+產業鏈上下游核心領域進行佈局,與產業鏈上下游
+合作夥伴相互賦能,助力本集團市場化進程。
+本集團持續深化市場化佈局,一方面將穩步推進比
+亞迪半導體上市相關工作,另一方面將著手培育更
+多具有市場競爭力的業務板塊,實現市場化運營,
+進一步釋放各業務的發展潛力,提升集團整體價值。
+In terms of rechargeable batteries, the Group will actively promote
+the application of the new technologies, expand its customer
+base and promote continuous increments of market shares of
+relevant products. In terms of photovoltaics business, the Group
+will seize the opportunities brought by industry development
+and concentrate on product transformation, upgrades as well
+as technological breakthroughs, to embrace the new explosive
+growth opportunities at a new starting point.
+In terms of handset components and assembly business,
+the Group continues to accumulate technology to provide a
+sustainable driver for the long-term growth potential. While
+maintaining its leading position in the Android field, the Group will
+continue to go deep into the core product business opportunities
+from major customers in North America to lay a solid foundation
+for the explosive revenue growth in the future. On the other hand,
+the integration of 5G and artificial intelligence technology has
+ushered in a window phase of span development for the market
+of new intelligent products and the automotive intelligent system.
+The Group will take advantage from the momentum to make
+breakthroughs in various segments such as smart homes, Internet
+of Things, unmanned aerial vehicles, robots and electronic
+atomization arranged in the early stage. It is expected to achieve
+sustained and rapid growth. With the automotive industry
+accelerating its innovation and the successive introduction of
+favorable policies, the business scale of automotive intelligent
+system promises potential growth in the future.
+Combined with its own business characteristics, the Group
+will continue to develop in the core areas of the upstream and
+downstream of the industrial chain through strategic investment,
+empower each other, and help to accelerate the Group's
+marketization process.
+competitiveness to realize marketization operation. Therefore,
+further release the development potential of each business, and
+enhance the overall value of the Group.
+The Group continues to deepen its marketization strategy. On
+the one hand, the Group will steadily promote the work related
+to the listing of BYD Semiconductor, on the other hand, it will
+embark on incubating more business segments with strong market
+主席報告書
+Chairman's Statement
+比亞迪股份有限公司
+BYD Company Limited
+在汽車領域,本集團將積極把握發展機遇,堅持技
+術創新,積極探索智能化,推出具有市場競爭力的
+產品並穩步提升品牌影響力,肩負起中國新能源汽
+車品牌向上發展的責任與使命。
+展望二零二二年,根據中央經濟工作會議要求,「穩
+字當頭、穩中求進」將是貫穿全年的主旋律,助力經
+濟逐步從外需拉動向內需驅動轉換,從而對汽車消
+費起到良好的支撐作用。
+二次充電電池業務於年內穩步增長。同時,本集團
+積��整合光伏業務,為行業快速發展做好準備。
+and mission of driving the upward development of Chinese new
+energy vehicle brands.
+In terms of automobile, the Group will actively seize the
+developing opportunities, insist on technological innovation,
+actively explore intellectualization, launch competitive products
+and enhance its brand influence, thus fulfilling the responsibility
+Looking forward to 2022, as required by the Central Economic
+Work Conference "make economic stability our top priority and
+pursue progress while ensuring stability" will be the theme
+throughout the year, pave the way for economy to transform from
+external demand driven to domestic demand driven, so as to
+provide strong support for automobile consumption.
+The rechargeable battery business grew steadily during the year.
+At the same time, the Group actively integrates the photovoltaics
+business to prepare for the rapid development of the industry.
+手機部件及組裝領域,本集團是全球領先的智能手
+機及其他智能終端的領導者,依托於業界領先的研
+發實力、積累快速規模化生產及客戶優勢,以及多
+元的產品組合,實現業務持續穩步發展。年內,新
+型智能產品板塊業務蓬勃發展,汽車智能系統持
+續突破,儘管在行業芯片短缺及內需疲軟的大環境
+下,本集團的銷售規模仍實現高速增長。
+本集團積極響應國家「雙碳」政策,充分發揮在新
+能源領域的獨特優勢,推出新能源汽車、光伏、儲
+能、「雲軌」及「雲巴」等綜合綠色解決方案並不斷挖
+掘本集團自身節能減排潛力,爭做綠色製造的標桿
+企業。此外,本集團積極承擔社會責任,面對自然
+災害及反覆的疫情,本集團不僅通過捐款、捐贈防
+疫物資的方式進行助力,更是結合自身業務特點,
+開放鄭州市4S店作為強降雨時的應急避難場所,還
+將綠色科技融入醫療服務,支持疫情防控工作。
+research and development capabilities, accumulated advantages
+in rapid and mass production and customer resources, as well
+as a diversified product portfolio. During the year, the Group
+achieved flourishing development in the new intelligent product
+business segment and continued to make breakthroughs in
+automotive intelligent systems. Despite the shortage of chips in
+the industry and weak domestic demand, the Group achieved
+rapid growth in sales volume.
+In the area of handset components and assemblies, the Group is
+a global leader in smart phones and other smart terminals, and
+achieves steady business growth based on its industry-leading
+主席報告書
+同時,本集團堅持插電式混動和純電動共同發展,
+「兩條腿、齊步走」的戰略定力和技術實力,並通過
+加大技術創新與迭代,實現了「DM-i超級混動」、
+「刀片電池」和「e平台3.0」技術共同發力,助力本集
+團於年內迎來第100萬輛新能源汽車的下線。
+12
+11,817
+Research and development subsidies
+(note (d))
+Support fund for industrial co-construction
+與收入相關
+研發補貼(附註(d))
+77,863
+140,093
+產業共建扶持基金(附註(c))
+10,191
+(note (c))
+Subsidies on industry development (note (c)) 行業發展補貼(附註(c))
+869,281
+94,755
+Subsidies on employee stability and
+穩崗及培訓補貼(附註(e))
+87,466
+Related to income
+189,319
+395,977
+254,731
+與資產相關
+Subsidies from the industry development
+fund for Changsha Automobile Zone
+(note (a))
+長沙汽車園區行業發展基金補貼
+(附註(a))
+60,878
+74,631
+Subsidies on research and development
+for batteries of electronic vehicles
+(note (b))
+電動汽車電池研發補貼(附註(b))
+21,099
+39,567
+Full hybrid engine system of plug-in vehicle
+projects (note (a))
+Others
+插電式乘用車全混合動力系統
+項目(附註(a))
+其他
+32,690
+27,048
+261,616
+376,283
+training (note (e))
+New energy vehicle production increase
+新能源汽車增產促銷獎勵
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+GOVERNMENT GRANTS AND SUBSIDIES 7.
+(CONTINUED)
+政府補助及補貼(續)
+Notes:
+(a) The items represent subsidies obtained by subsidiaries
+of the Group from the government for the development
+of automobile projects, and the subsidy income is
+released to profit over the expected useful life of
+relevant assets.
+(b)
+(c)
+(d)
+The items represent subsidies obtained by subsidiaries
+of the Group from the government for the construction
+of iron-powered lithium battery production lines, and the
+subsidy income is released to profit over the expected
+useful life of relevant assets.
+The items represent subsidies obtained by subsidiaries
+of the Group from the government for boosting the
+industry development. The same amounts as relevant
+expenditures incurred during the reporting periods
+were recognised as government subsidies in the
+consolidated statement of profit or loss.
+The items represent corporate R&D subsidies obtained
+by subsidiaries of the Group from the government. The
+same amounts as relevant expenditures incurred during
+the reporting periods were recognised as government
+subsidies in the consolidated statement of profit or
+loss.
+附註:
+(a)
+此項指本集團附屬公司就開發汽車項目
+自政府獲得的補貼,補貼收入於相關資
+產的預計可使用年期轉撥至溢利。
+Notes to Financial Statements
+195
+Annual Report 2021
+二零二一年年報
+7.
+113,000
+and promotion reward (note (f))
+(附註(f))
+Shantou BYD's Quality Enterprises from
+汕頭比亞迪珠三角優質企業轉移
+84,000
+PRD Transfer and Support Funds (note (c))
+Related to assets
+扶持資金(附註(c))
+其他
+768,592
+744,807
+1,887,202
+1,292,165
+2,263,485
+1,688,142
+Others
+二零二零年
+RMB'000
+人民幣千元
+2020
+2021
+二零二一年
+RMB'000
+人民幣千元
+40,490
+35,366
+財務擔保減值(轉回)/
+(22,144)
+17,324
+虧損淨額*
+Loss on derecognition of financial assets
+終止確認以攤銷成本計量
+88,765
+299,523
+measured at amortised cost
+的金融資產的虧損
+Write-down of inventories to net
+撇減存貨至可變現淨值**
+707,703
+應收合營公司及聯營公司
+款項減值淨額*
+(Reversal)/impairment of financial guarantee,
+*
+Impairment of amounts due from joint
+ventures and associates, net
+應收長期賬款減值淨額*
+(32,550)
+49,907
+Impairment of trade receivables, net*
+應收貿易賬款減值淨額*
+408,122
+648,770
+499,218
+(Reversal)/impairment losses on receivables
+financing, net*
+應收款項融資減值
+(轉回)/虧損淨額*
+預付款項、按金及其他
+(5,888)
+330
+44
+191,932
+應收賬款的減值淨額*
+Impairment of prepayments, deposits and
+other receivables, net*
+(b)
+realisable value**
+*****
+計入合併損益表中的「銷售成本」。
+計入合併損益表中的「行政開支」。
+Included in "Other expenses" in the consolidated
+statement of profit or loss.
+Included in “Other income and gains” in the
+consolidated statement of profit or loss.
+計入合併損益表中的「其他開支」。
+計入合併損益表中的「其他收入及收
+益」。
+BYD Company Limited
+194
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+7. GOVERNMENT GRANTS AND SUBSIDIES
+7. 政府補助及補貼
+Included in "Administrative expenses" in the
+consolidated statement of profit or loss.
+***
+Included in "Cost of sales" in the consolidated
+statement of profit or loss.
+812,806
+Fair value (gain)/losses, net:
+出售附屬公司的損失*
+公允價值(收益)/虧損
+淨額:
+1,191
+9,076
+Financial assets at fair value through
+profit or loss
+以公允價值計量並計入
+損益的金融資產
+Loss on disposal of subsidiaries*
+Provision
+Included in "Impairment losses on financial and
+contract assets" in the consolidated statement of profit
+or loss.
+(47,356)
+51,267
+36
+1,228,609
+計入合併損益表中的「金融及合同資產
+減值虧損」。
+撥備
+Impairment of long-term receivables, net*
+此項指本集團附屬公司就建設鐵鋰電池
+生產線自政府獲得的補貼,補貼收入於
+相關資產的預計可使用年期轉撥至溢
+利。
+此項指本集團附屬公司就推動行業發展
+自政府獲得的補貼。與報告期間產生的
+在合併損益表中確認為政府補貼的相關
+開支相若。
+RMB'000
+人民幣千元
+Ms. Zhang Ran*
+Mr. Wang Zi-dong**
+張然女士*
+138
+Mr. Zou Fei***
+王子冬先生**
+鄒飛先生***
+138
+138
+Mr. Cai Hong Ping****
+蔡洪平先生**
+****
+200
+Mr. Zhang Min*****
+張敏先生*
+二零二零年
+*****
+2020
+於本年度支付予獨立非執行董事的袍
+金如下:
+197
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+9. DIRECTORS' AND SUPERVISORS' 9.
+REMUNERATION (CONTINUED)
+There were no discretionary bonuses or compensation paid
+for loss of office or as inducement to join the Company for
+directors and supervisors during the year (2020: Nil).
+董事及監事薪酬(續)
+於本年度,概無向董事及監事支付款項,以
+作為彼等離職或吸引彼等加入本公司之酌情
+花紅或補償(二零二零年:無)。
+(a)
+Independent non-executive directors
+(a)
+獨立非執行董事
+The fees paid to independent non-executive
+directors during the year are as follows:
+2021
+二零二一年
+RMB'000
+人民幣千元
+200
+Mr. Jiang Yan Bo*******
+蔣岩波先生
+Mr. Wang Zi-dong resigned as the director
+on 8 September 2020. His remuneration of
+2020 covered the period from 1 January to 8
+September.
+Mr.Zou Fei resigned as the director on 8
+September 2020.His remuneration of 2020
+covered the period from 1 January to 8
+September.
+Mr. Cai Hong Ping was appointed as the
+director on 8 September 2020. His remuneration
+of 2020 covered the period from 9 September to
+31 December.
+Mr. Zhang Min was appointed as the director
+on 8 September 2020. His remuneration of 2020
+covered the period from 9 September to 31
+December.
+Mr. Jiang Yan Bo was appointed as the director
+on 8 September 2020. His remuneration of 2020
+covered the period from 9 September to 31
+December.
+(a) 獨立非執行董事(續)
+***
+張然女士於二零二零年九月八
+日離任董事一職。其二零二零
+年的薪酬涵蓋一月一日至九月
+八日期間。
+王子冬先生於二零二零年九月
+八日離任董事一職。其二零二
+零年的薪酬涵蓋一月一日至九
+月八日期間。
+鄒飛先生於二零二零年九月八
+日離任董事一職。其二零二零
+年的薪酬涵蓋一月一日至九月
+八日期間。
+蔡洪平先生於二零二零年九月
+八日獲委任為董事。其二零二
+零年的薪酬涵蓋九月九日至十
+二月三十一日期間。
+張敏先生於二零二零年九月八
+日獲委任為董事。其二零二零
+年的薪酬涵蓋九月九日至十二
+月三十一日期間。
+蔣岩波先生於二零二零年九月
+八日獲委任為董事。其二零二
+零年的薪酬涵蓋九月九日至十
+二月三十一日期間。
+2020 covered the period from 1 January to 8
+September.
+on 8 September 2020. Her remuneration of
+Ms. Zhang Ran resigned as the director
+Independent non-executive directors
+(continued)
+200
+62 62 62
+There were no other emoluments payable to the
+independent non-executive directors during the year
+(2020: Nil).
+600
+600
+於本年度概無其他支付予獨立非執行
+董事的酬金(二零二零年:無)。
+Annual Report 2021
+二零二一年年報
+BYD Company Limited
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+9. DIRECTORS' AND SUPERVISORS' 9. 董事及監事薪酬(續)
+REMUNERATION (CONTINUED)
+(a)
+198
+12,656
+11,656
+10,817
+融資成本
+An analysis of finance costs is as follows:
+融資成本分析如下:
+2021
+二零二一年
+RMB'000
+人民幣千元
+2020
+二零二零年
+RMB'000
+人民幣千元
+Interest on bank and other borrowings
+Interest on lease liabilities
+銀行及其他借款利息
+租賃負債利息
+1,627,106
+2,596,300
+68,382
+56,422
+Bank charges for discounted notes
+票據折現的銀行開支
+8.
+FINANCE COSTS
+8.
+二零二一年十二月三十一日
+(d)
+此項指本集團附屬公司取得政府撥付的
+企業研發資助補貼,與報告期間產生的
+在合併損益表中確認為政府補貼的相關
+開支相若。
+(e)
+(f)
+The items represent subsidies obtained by subsidiaries
+of the Group from the government for maintaining
+employee stability and conducting training. The same
+amounts as relevant expenditures incurred during the
+reporting periods were recognised as government
+subsidies in the consolidated statement of profit or
+loss.
+(e)
+此項指本集團附屬公司取得政府撥付的
+穩崗及開展培訓的補貼,與報告期間產
+生的在合併損益表中確認為政府補貼的
+相關開支相若。
+219,869
+The items represent subsidies obtained by subsidiaries
+of the Group from the provincial government for
+increasing the production and promotion of new energy
+vehicles. The same amounts as relevant expenditures
+incurred during the reporting periods were recognised
+as government subsidies in the consolidated statement
+of profit or loss.
+此項指本集團附屬公司取得省政府撥付
+的新能源汽車增產促銷的補貼,與報告
+期間產生的在合併損益表中確認為政府
+補貼的相關開支相若。
+BYD Company Limited
+196
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+(f)
+(C)
+523,867
+Less: Interest capitalised
+人民幣千元
+Fees
+袍金
+1,000
+1,000
+Other emoluments:
+其他酬金:
+Salaries, allowances and benefits in kind
+薪金、津貼及非現金利益
+10,755
+11,595
+Pension scheme contributions
+退休金計劃供款
+62
+61
+RMB'000
+二零二零年
+二零二一年
+RMB'000
+人民幣千元
+2020
+減:資本化利息
+1,915,357
+3,176,589
+(7,715)
+(52,788)
+1,907,642
+3,123,801
+9.
+The average capitalisation rate for the year used to
+年內用於釐定借款費用符合資本化的平均資
+本化率為4.09%(二零二零年:4.93%)。
+DIRECTORS' AND SUPERVISORS'
+REMUNERATION
+9.
+董事及監事薪酬
+Directors' and supervisors' remuneration for the year,
+disclosed pursuant to the Listing Rules, section 383(1)(a),
+(b),(c) and (f) of the Hong Kong Companies Ordinance
+and Part 2 of the Companies (Disclosure of Information
+about Benefits of Directors) Regulation, is as follows:
+根據上市規則、香港公司條例第383(1)(a)、
+(b)、(c)及(f)條及公司(披露董事利益資料)
+規例第2部,本年度董事及監事的薪酬披露
+如下:
+2021
+determine the amount of borrowing costs eligible for
+capitalisation was 4.09% (2020: 4.93%).
+214,366
+net*
+合同資產減值淨額*
+214,613
+175,920
+209,830
+Penalty from suppliers
+來自供應商的罰金
+274,377
+170,220
+Rental income from leases:
+租賃租金收入:
+Rental income from operating leases
+of investment properties
+來自投資物業經營租賃的租金收入
+23,448
+26,122
+Other rental income from operating
+leases
+來自經營租賃的其他租金收入
+631,841
+服務收入
+銀行利息收入
+其他收入
+Revenue from contracts with customers (continued)
+客戶合同收入(續)
+(ii)
+Performance obligations (continued)
+(ii)
+履約責任(續)
+The amounts of transaction prices allocated to the
+remaining performance obligations (unsatisfied
+128,243
+or partially unsatisfied) as at 31 December are as
+follows:
+2021
+二零二一年
+RMB'000
+人民幣千元
+2020
+二零二零年
+RMB'000
+人民幣千元
+Other income
+Bank interest income
+Service income
+於十二月三十一日分配予餘下履約責
+任(未達成或部分未達成)的交易價
+金額如下:
+(CONTINUED)
+116,995
+143,117
+1,419,429
+593,445
+and materials
+Gain on disposal of joint ventures
+出售合營公司的收益
+48
+1,419,429
+593,493
+BYD Company Limited
+192
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+出售廢料及物料收益
+Gain on disposal of scrap
+收益
+Gains
+Dividend income from equity
+investments at fair value through
+以公允價值計量並計入其他綜合
+收益的權益投資的股息收入
+2,233
+13,126
+other comprehensive income
+Income from the disposal of derivative 處置衍生金融工具收入
+151,691
+financial instruments
+56,479
+25,960
+77,666
+328,286
+278,013
+1,590,308
+1,106,585
+Others
+6.
+5. REVENUE, OTHER INCOME AND GAINS 5. 收入、其他收入及收益(續)
+財務報表附註
+The performance obligation is satisfied over time
+as services are rendered and are billed based on
+construction progress. A certain percentage of
+payment is retained by customers until the end of
+the retention period as the Group's entitlement to
+the final payment is conditional on the satisfaction of
+the service quality by the customers over a certain
+period as stipulated in the contracts.
+Rendering of services
+The performance obligation is satisfied over time as
+services are rendered and are billed based on the
+agreements of contracts.
+建造服務
+在提供服務的時間內履行履約義務,
+合同價款通常隨工程進度支付。通常
+客戶保留一定比例的質保金,質保金
+通常在質保期滿後支付,因根據合同
+規定,本集團有權於一定期間內客戶
+信納服務質量後方支付尾款。
+提供服務
+在提供服務的時間內履行履約義務,
+合同價款結算以合同約定為準。
+BYD Company Limited
+190
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+Construction services
+履約責任於交付商品後達成。部分合
+同向客戶提供回扣,因而導致可變代
+價(須受限制)。
+銷售商品
+The performance obligation is satisfied upon
+delivery of goods. Some contracts provide
+customers with rebates which give rise to variable
+consideration subject to constraint.
+Annual Report 2021
+二零二一年年報
+189
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+5. REVENUE, OTHER INCOME AND GAINS 5. 收入、其他收入及收益(續)
+(CONTINUED)
+5. REVENUE, OTHER INCOME AND GAINS
+(CONTINUED)
+Revenue from contracts with customers (continued)
+(ii)
+Performance obligations
+(ii)
+履約責任
+Information about the Group's performance
+obligations is summarised below:
+有關本集團履約責任的資料概述如
+下:
+Sale of goods
+客戶合同收入(續)
+31 December 2021
+二零二一年十二月三十一日
+5.
+(ii)
+tax
+(不含税)
+(不含税)
+預期將確認為收入的金額:
+一年內
+12,955,401
+7,489,885
+一年以上
+1,765,637
+696,003
+14,721,038
+8,185,888
+Annual Report 2021
+二零二一年年報
+191
+Notes to Financial Statements
+tax
+excluding
+excluding
+Price
+Revenue from contracts with customers (continued)
+Performance obligations (continued)
+客戶合同收入(續)
+(ii)
+履約責任(續)
+The amounts of transaction prices allocated to the
+remaining performance obligations (unsatisfied
+or partially unsatisfied) as at 31 December are as
+follows:
+於十二月三十一日分配予餘下履約責
+任(未達成或部分未達成)的交易價
+金額如下:
+收入、其他收入及收益(續)
+Amounts expected to be recognised
+Within one year
+More than one year
+2021
+二零二一年
+RMB'000
+人民幣千元
+2020
+二零二零年
+Price
+RMB'000
+人民幣千元
+as revenue:
+PROFIT BEFORE TAX
+其他
+除稅前溢利
+1,806,407
+退休金計劃供款
+Pension scheme contributions
+145,841
+405,266
+福利
+74,297
+116,389
+以權益結算的購股開支
+Equity-settled share option expense
+Welfare
+21,210,900
+26,965,490
+工資及薪酬
+1,093,541
+Wages and salaries
+6.
+及監事酬金(附註9)):
+僱員福利開支(不包括董事
+6,350
+6,350
+核數師酬金
+1,270,066
+1,237,105
+16(c)
+未計入租賃負債計量的
+租賃付款
+10,225,969
+10,577,389
+Auditors' remuneration
+directors' and supervisors' remuneration
+(note 9):
+measurement of lease liabilities.
+29,293,552
+Annual Report 2021
+二零二一年年報
+Impairment of contract assets, net*
+805,547
+533,324
+匯兌差異淨額
+*****
+和金融工具*
+(131,786)
+(176,344)
+375,662
+112,802
+Foreign exchange differences, net
+and financial instruments**
+*****
+22,524,580
+Receipt of derecognition of financial products 收取終止確認金融產品
+RMB'000
+人民幣千元
+二零二零年
+二零二一年
+RMB'000
+人民幣千元
+Notes
+附註
+2020
+2021
+6. 除稅前溢利(續)
+PROFIT BEFORE TAX (CONTINUED)
+6.
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+193
+Loss on disposal of items of non-current 出售非流動資產項目的虧損
+assets
+Lease payments not included in the
+Employee benefit expense (excluding
+7,990,974
+and equipment
+Depreciation of investment properties
+投資物業折舊
+Impairment of property, plant
+物業、廠房及設備減值**
+****
+15 14
+2,574
+9,272,924
+2,685
+5,885
+Amortisation of other intangible assets
+and equipment****
+Depreciation of right-of-use assets
+other than development costs***
+Impairment of other intangible assets****
+使用權資產折舊
+16(a)
+212
+89,748
+75,289
+10,904,635
+14
+The Group's profit before tax is arrived at after charging/
+(crediting):
+本集團除稅前溢利乃扣除/(計入)下列各項
+後計算:
+Cost of inventories sold
+Cost of services provided
+Depreciation of property, plant
+2021
+2020
+二零二一年
+二零二零年
+Notes
+附註
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+銷售存貨的成本
+186,884,365
+2,761,108
+7,464,861
+提供服務的成本
+物業、廠房及設備折舊
+441,051
+328,265
+125,636,627
+18
+研究及開發成本:
+Current year expenditure
+本年度開支
+18
+2,586,415
+Deferred expenditure amortised
+攤銷非開發成本的其他
+無形資產*,
+Research and development costs:
+93,081
+****
+其他無形資產減值**
+***
+153,694
+173,707
+187,061
+遞延開支攤銷
+7,527,852
+添置
+3,273,197
+943,570
+(26,355)
+4,234,358
+Disposals
+出售
+9,442
+(53,813)
+(162)
+(80,330)
+Depreciation charge
+折舊開支
+17,591
+936,303
+As at 31 December 2020 and
+於二零二零年十二月三十一日及
+二零二一年一月一日
+Disposals
+Depreciation charge
+Exchange realignment
+出售
+(7,519)
+(97,349)
+(15,348)
+(120,216)
+(158,295)
+(167,819)
+(2,151)
+(328,265)
+(1,961)
+(8,745)
+138
+(10,568)
+折舊開支
+匯兌調整
+(168,122)
+1 January 2021
+Additions
+6,582,107
+(267,371)
+(7,528)
+(441,051)
+99,383
+109,814
+Deferred (note 39)
+遞延(附註39)
+(1,792)
+99,890
+Total tax charge for the year
+本年度稅項支出總額
+550,737
+745,888
+868,624
+11.
+12.
+Annual Report 2021
+二零二一年年報
+203
+Notes to Financial Statements
+財務報表附註
+本年度支出
+本年度 - 其他地區
+658,920
+438,360
+Exchange realignment
+匯兌調整
+(758)
+(6,392)
+(378)
+As at 31 December 2021
+於二零二一年十二月三十一日
+9,660,069
+(5,558)
+1,552,297
+11,233,301
+Charge for the year
+本年度 - 香港
+本年度支出
+14,786
+Current Mainland China
+本年度-中國內地
+本年度支出
+20,935
+5,275
+Profit attributable to ordinary equity holders
+of the parent
+239,359
+扣除累計折舊及減值
+depreciation and impairment
+4,657,379 5,721,076 55,296,009
+997,740
+131,573 26,437,192
+17,351,049
+==-A-B
+At 1 January 2020, net of accumulated
+4,657,379 5,721,076 55,296,009
+997,740
+131,573 26,437,192
+17,351,049
+賬面淨值
+Net carrying amount
+impairment
+(40,226,811)
+199,310 57,314,868 1,690,428 9,419,899 5,721,076 95,522,820
+(67,737) (30,877,676) (692,688) (4,762,520)
+Additions
+(3,826,190)
+添置
+出售
+於中國內地經營的若干附屬公司均確認屬高
+新技術企業(「高新技術企業」),並有權於年
+內享有15%的企業所得稅扣減。高新技術企
+業證書須每三年續期,以使該等附屬公司有
+權享有15%的企業所得稅扣減。
+於中國內地經營的若干附屬公司均獲准遵循
+西部大開發政策而有權於年內享有15%的企
+業所得稅扣減。該等附屬公司須每年根據國
+家稅務總局規定保留資料作記錄,以享有經
+調減企業所得稅率。
+2021
+二零二一年
+RMB'000
+人民幣千元
+2020
+二零二零年
+RMB'000
+人民幣千元
+Current Hong Kong
+-
+Charge for the year
+Charge for the year
+Current Elsewhere
+-
+(5,885)
+減值
+Impairment
+404,789
+17,267 6,006,840 333,353 2,652,203 3,474,644 12,889,096
+(6,677) (50,824) (422,720) (65,929) (47,325) (12,758) (606,233)
+(677,112) (30,821) (6,655,209) (303,360) (1,606,422)
+(9,272,924)
+Depreciation provided during the year ⠀⠀
+Disposals
+根據相關所得稅法,年內,中國附屬公司須
+就其各自的應課稅收入按法定税率25%繳納
+企業所得稅(「企業所得稅」)。
+累計折舊及減值
+於二零一九年十二月三十一日
+及於二零二零年一月一日:
+成本
+equipment Construction
+and fixtures
+in progress
+Office
+vehicles
+equipment
+buildings improvements
+Motor
+and
+land and Leasehold
+Machinery
+於二零二一年十二月三十一日,賬面淨值約
+人民幣182,646,000元(二零二零年:人民幣
+191,209,000元)的本集團若干永久業權土地
+及樓宇項目、賬面淨值約人民幣0元(二零二
+零年:人民幣1,781,000元)的本集團若干汽
+車項目已作為抵押以取得授予本集團的一般
+銀行融資(附註35(a))。
+Freehold
+As at 31 December 2021, certain items of the Group's
+freehold land and buildings with a net carrying amount of
+approximately RMB182,646,000 (2020: RMB191,209,000)
+were pledged to secure general banking facilities granted
+to the Group, certain items of the Group's motor vehicles
+with a net carrying amount of approximately RMBO (2020:
+RMB1,781,000) were pledged to secure general banking
+facilities granted to the Group (note 35(a)).
+物業、廠房及設備(續)
+14.
+14. PROPERTY, PLANT AND EQUIPMENT
+(CONTINUED)
+二零二一年十二月三十一日
+31 December 2021
+Total
+21,177,239
+永久業權
+本集團
+Accumulated depreciation and
+Cost
+1 January 2020:
+At 31 December 2019 and
+二零二零年十二月三十一日
+31 December 2020
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+總計
+在建工程
+辦公室
+設備及傢俱
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+車輛
+機器及設備
+租賃物業裝修
+RMB'000
+人民幣千元
+土地及樓宇
+RMB'000
+人民幣千元
+Group
+除本集團內部轉讓中國附屬公司股份的收益
+按10%的稅率計算的預扣稅外,年內於香港
+產生的估計應課稅溢利已按16.5%的税率作
+出香港利得稅撥備。其他地區的應繳利得稅
+已按本集團經營業務所在國家的適用稅率計
+算。
+所得税
+11.
+Mr. Yang Dong-sheng was changed from a
+supervisor to the vice president on 29 March
+2021. His remuneration as the supervisor of
+2021 covered the period from 1 January to 29
+March.
+本年度並無董事或監事放棄或同意
+放棄任何薪酬之安排(二零二零年:
+無)。
+楊冬生先生於2021年3月29
+日由監事晉升為副總裁。其於
+2021年擔任監事的薪酬涵蓋1
+月1日至3月29日期間。
+Ms. Tang Mei was appointed as the supervisor
+on 25 March 2021. Her remuneration of 2021
+covered the period from 25 March to 31
+December.
+唐梅女士於2021年3月25日獲
+委任為監事。其於2021年的薪
+酬涵蓋3月25日至12月31日期
+間
+。
+10. FIVE HIGHEST PAID EMPLOYEES
+Annual Report 2021
+二零二一年年報
+201
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+10.
+or a supervisor waived or agreed to waive any
+remuneration during the year (2020: Nil).
+五名最高薪酬僱員
+There was no arrangement under which a director
+61
+楊冬生先生
+Mr. Li Yong-zhao
+李永釗先生
+Mr. Huang Jiang-feng
+黃江鋒先生
+3,499
+100
+2,481
+100
+100
+22 - 8 -
+3,521
+100
+2,499
+100
+100
+400
+11,595
+12,056
+The five highest paid employees during the year included
+one (2020:nil) director, details of whose remuneration are
+set out in note 9 above. Details of the remuneration for the
+year of the remaining four (2020: five) non-director and
+highest paid employees are as follows:
+年內五名最高薪酬僱員包含一名(二零二零
+年:零名)董事,其薪酬詳情載於上文附註
+9。年內餘下四名(二零二零年:五名)最高
+薪酬僱員均為非董事,其薪酬詳情如下:
+2021
+||21||-||
+4
+21||-|||-
+LO
+5
+BYD Company Limited
+202
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+11. INCOME TAX
+Hong Kong profits tax has been provided at the rate
+of 16.5% on the estimated assessable profits arising in
+Hong Kong during the year, except for the withholding tax
+derived at a tax rate of 10% on the gains from transferring
+shares of a PRC subsidiary within the Group. Taxes on
+profits assessable elsewhere have been calculated at the
+tax rates prevailing in the countries in which the Group
+operates.
+Under the relevant income tax law, the PRC subsidiaries
+are subject to corporate income tax ("CIT") at a statutory
+rate of 25% on their respective taxable income during the
+year.
+Certain subsidiaries operating in Mainland China were
+approved to be high and new technology enterprises
+(“HNTE”) and were entitled to a reduced CIT rate of 15%.
+The HNTE certificates need to be renewed every three
+years so as to enable those subsidiaries to enjoy the
+reduced CIT rate of 15%.
+Certain subsidiaries operating in Mainland China were
+entitled to a reduced CIT rate of 15% for the year pursuant
+to the Western Development Policy. These subsidiaries
+retained records pursuant to the policies by the State
+Taxation Administration so as to be entitled to the reduced
+CIT rate.
+二零二零年
+二零二一年
+2020
+2021
+二零二一年
+RMB'000
+人民幣千元
+2020
+二零二零年
+RMB'000
+人民幣千元
+Salaries, allowances and benefits in kind
+Pension scheme contributions
+薪金、津貼及非現金利益
+退休金計劃供款
+33,313
+40,144
+114
+87
+財務報表附註
+There were no discretionary bonuses or compensation paid
+for loss of office or as inducement to join the Company for
+the above highest paid employees during the year (2020:
+Nil).
+33,427
+40,231
+於本年度,概無向上述最高薪酬僱員支付款
+項,以作為彼等離職或吸引彼等加入本公司
+之酌情花紅或補償(二零二零年:無)。
+屬以下薪酬範圍的非董事最高薪酬僱員人數
+如下:
+RMB6,500,001 to RMB7,000,000
+RMB7,000,001 to RMB7,500,000
+RMB7,500,001 to RMB8,000,000
+RMB8,000,001 to RMB8,500,000
+RMB8,500,001 to RMB9,000,000
+RMB9,000,001 to RMB9,500,000
+RMB9,500,001 to RMB10,000,000
+RMB10,000,001 to RMB10,500,000
+RMB10,500,001 to RMB11,000,000
+人民幣6,500,001元至人民幣7,000,000元
+人民幣7,000,001元至人民幣7,500,000元
+人民幣7,500,001元至人民幣8,000,000元
+人民幣8,000,001元至人民幣8,500,000元
+人民幣8,500,001元至人民幣9,000,000元
+人民幣9,000,001元至人民幣9,500,000元
+人民幣9,500,001元至人民幣10,000,000元
+人民幣10,000,001元至人民幣10,500,000元
+人民幣10,500,001元至人民幣11,000,000元
+The number of non-director highest paid employees whose
+remuneration fell within the following bands is as follows:
+Notes to Financial Statements
+比亞迪股份有限公司
+206
+RMB'000
+總計
+在建工程
+設備及傢俱
+車輛
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+機器及設備
+租賃物業裝修
+土地及樓宇
+RMB'000
+人民幣千元
+本集團
+Group
+Total
+and fixtures in progress
+辦公室
+永久業權
+vehicles
+equipment
+RMB'000
+buildings improvements
+RMB'000
+人民幣千元 人民幣千元
+18,128,669
+賬面淨值
+Net carrying amount
+impairment
+3,550,067 104,383,848
+(46,181,966)
+1,857,535 11,649,451
+(895,943) (5,905,922)
+130,447 64,586,063
+(63,252) (34,835,233)
+(4,481,616)
+累計折舊及減值
+22,610,285
+於二零二零年十二月三十一日
+及於二零二一年一月一日:
+成本
+Accumulated depreciation and
+Cost
+1 January 2021:
+At 31 December 2020 and
+二零二一年十二月三十一日
+31 December 2021
+人民幣千元
+equipment Construction
+Motor
+and
+Weighted average number of ordinary shares in
+issue during the year, used in the basic
+earnings per share calculation
+Shares
+4,017,633
+3,025,914
+用於計算每股基本盈利的
+溢利
+Profit used in the basic earnings per
+share calculation
+(42,326)
+永續債應佔累計未付的
+本年利息
+Accumulated unpaid interest attributable to
+perpetual loans for the year
+(174,308)
+(19,274)
+已付永續債的本年利息
+Interest paid for perpetual loans for the year
+4,234,267
+3,045,188
+母公司普通股權益持有人
+應佔溢利
+盈利
+股份
+Number of shares
+股份數目
+2021
+Leasehold
+land and
+Office
+Machinery
+Freehold
+14. 物業、廠房及設備
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+67,195 29,750,830
+Notes to Financial Statements
+Annual Report 2021
+二零二一年年報
+14. PROPERTY, PLANT AND EQUIPMENT
+已發行普通股加權平均數
+2,854,226,188 2,728,142,855
+用於計算每股基本盈利的年內
+二零二零年
+二零二一年
+2020
+205
+Mr. Yang Dong-sheng
+961,592
+At 1 January 2021, net of accumulated
+995,466 6,880,296 14,246,331 75,545,128
+33,544,308
+77,432
+於二零二一年十二月三十一日, 19,801,295
+扣除累計折舊及減值
+accumulated depreciation and
+impairment
+At 31 December 2021, net of
+(57,682)
+(10,983) (15,297) (3,014)
+(28,388)
+匯兌調整
+Exchange realignment
+(3,524)
+(3,524)
+轉撥投資物業
+Transfer to investment properties
+(7,392,393)
+357,901
+At 31 December 2021:
+38,295
+於二零二一年十二月三十一日:
+成本
+BYD Company Limited
+於二零二一年十二月三十一日,本集團仍在
+就賬面淨值為人民幣2,536,395,000元(二零
+二零年:人民幣2,917,879,000元)的若干樓
+宇辦理房屋所有權證。董事認為,本集團在
+取得房屋所有權證方面並無重大障礙。
+there is no major barrier for the Group to obtain the
+property ownership certificates.
+As at 31 December 2021, the Group was still in the process
+of obtaining property ownership certificates for certain
+buildings with a net carrying amount of RMB2,536,395,000
+(2020: RMB2,917,879,000). In the opinion of the directors,
+995,466 6,880,296 14,246,331 75,545,128
+33,544,308
+77,432
+19,801,295
+賬面淨值
+Net carrying amount
+impairment
+(51,315,039)
+152,196 71,406,278 2,013,686 14,196,595 14,246,331 126,860,167
+(74,764) (37,861,970) (1,018,220) (7,316,299)
+(5,043,786)
+累計折舊及減值
+Accumulated depreciation and
+24,845,081
+Cost
+(212)
+(212)
+5,575,596
+1,420,601
+Transfers from investment properties
+29,233,955
+2,658,008 18,109,409
+448,263
+6,900,119
+49,060
+1,069,096
+扣除累計折舊及減值
+添��
+Additions
+depreciation and impairment
+58,201,882
+5,743,529 3,550,067
+961,592
+29,750,830
+67,195
+18,128,669
+==---
+轉自投資物業
+7,667
+7,667
+Disposals
+轉撥
+Transfers
+減值
+Impairment
+(10,904,635)
+(932,323)
+(20,752)
+(37,600)
+(1,838,528)
+5,743,529 3,550,067 58,201,882
+(284,272)
+(27,283)
+(678,311)
+Depreciation provided during the year ⠀⠀
+(153,115)
+(594,801)
+(11,540)
+(114,515)
+出售
+(8,076,241)
+Earnings
+董俊卿先生
+監事:
+Transfers
+31 December 2021
+二零二一年十二月三十一日
+INCOME TAX (CONTINUED)
+A reconciliation of the tax expense applicable to profit
+before tax at the statutory tax rate for the jurisdiction in
+which the Company and the majority of its subsidiaries are
+domiciled to the tax expense at the effective tax rate, and
+a reconciliation of the statutory tax rate to the effective tax
+rate, are as follows:
+11.
+所得稅(續)
+按本公司及其大部分附屬公司所在司法權區
+法定税率計算的除稅前溢利適用稅項開支與
+按實際稅率計算的稅項開支的對賬,以及法
+定稅率與實際稅率的對賬如下:
+Profit before tax
+除稅前溢利
+2021
+二零二一年
+RMB'000
+人民幣千元
+4,518,003
+2020
+二零二零年
+RMB'000
+%
+轉撥
+人民幣千元
+1,099,181
+匯兌調整
+累計折舊及減值
+22,610,285
+成本
+於二零二零年十二月三十一日:
+Accumulated depreciation and
+impairment
+Cost
+At 31 December 2020:
+impairment
+58,201,882
+961,592 5,743,529 3,550,067
+67,195 29,750,830
+於二零二零年十二月三十一日, 18,128,669
+扣除累計折舊及減值
+accumulated depreciation and
+At 31 December 2020, net of
+(98,181)
+4,407,390 34,745 91,579 (5,632,895)
+(16,778) (34,957) (3,885)
+(42,561)
+Exchange realignment
+(4,481,616)
+6,882,587
+Tax at the statutory tax rate
+0.9
+66,457
+1.0
+Tax losses and deductible temporary
+differences not recognised
+未確認的稅務虧損及可扣稅
+1,063,538
+23.5
+796,723
+11.6
+暫時性差異
+Tax losses utilised from previous periods
+利用以前期間稅務虧損
+(399,502)
+(8.8)
+(349,062)
+(5.1)
+Effect on opening deferred tax of
+change in rates
+40,142
+%
+無須納稅的開支
+虧損
+按法定税率計算的稅項
+1,129,501
+25.0
+1,720,647
+25.0
+Lower tax rate for specific provinces or
+enacted by local authority
+個別省份或地方機構頒佈的
+較低稅率
+(418,028)
+(9.3)
+(739,900)
+(10.9)
+Losses attributable to joint ventures
+and associates
+應佔合營公司及聯營公司的
+30,268
+0.7
+15,673
+0.2
+Expenses not deductible for tax
+130,447 64,586,063 1,857,535 11,649,451 3,550,067
+(63,252) (34,835,233) (895,943) (5,905,922)
+104,383,848
+(46,181,966)
+使用權資產
+(a)
+本集團作為承租人(續)
+租賃(續)
+16.
+assets and the movements during the year are as
+follows:
+The carrying amounts of the Group's right-of-use
+Right-of-use assets
+(a)
+The Group as a lessee (continued)
+LEASES (CONTINUED)
+16.
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+於年內,本集團使用權資產的賬面值
+及變動如下:
+208
+Machinery
+and other
+添置
+7,241,013
+21,528
+708,962
+6,510,523
+於二零二零年一月一日
+As at 1 January 2020
+Additions
+RMB'000
+人民幣千元
+總計
+其他設備
+RMB'000
+人民幣千元
+樓宇
+RMB'000
+人民幣千元
+租賃土地
+RMB’000
+人民幣千元
+Total
+機器及
+equipment
+Buildings
+land
+Leasehold
+BYD Company Limited
+本集團就其經營中使用的各種租賃土地、樓
+宇、機器及其經營中所用的其他設備簽訂了
+租賃合同。根據該等土地租賃條款,於向業
+主收購租賃土地(租期為30至99年)前已作
+出一次性付款,並無正在進行的付款。樓宇
+租賃的租期一般為1至20年。機器及其他設
+備的租期一般為1至5年,及/或個別價值
+較低。一般而言,本集團不得在本集團以外
+轉讓及轉租租賃資產。若干租賃合同包含續
+租選擇權,其進一步載述如下。
+equipment used in its operations. Lump sum payments
+were made upfront to acquire the leased land from the
+owners with lease periods of 30 to 99 years, and no
+ongoing payments will be made under the terms of these
+land leases. Leases of buildings generally have lease terms
+between 1 and 20 years. Machinery and other equipment
+generally have lease terms of 1 to 5 years and/or are
+individually of low value. Generally, the Group is restricted
+from assigning and subleasing the leased assets outside
+the Group. There are several lease contracts that include
+extension options, which are further discussed below.
+二零二零年
+2020
+2021
+二零二一年
+RMB'000
+人民幣千元
+31 December 2021
+二零二一年十二月三十一日
+投資物業
+15.
+15. INVESTMENT PROPERTIES
+財務報表附註
+Notes to Financial Statements
+207
+Annual Report 2021
+二零二一年年報
+58,201,882
+961,592 5,743,529 3,550,067
+67,195 29,750,830
+18,128,669
+賬面淨值
+Net carrying amount
+RMB'000
+人��幣千元
+Carrying amount at 1 January
+於一月一日的賬面值
+94,217
+The Group has lease contracts for various items of
+leasehold land, buildings and machinery and other
+本集團作為承租人
+The Group as a lessee
+租賃
+16.
+LEASES
+16.
+94,217
+稅率變動對期初遞延所得稅的
+87,500
+Carrying amount at 31 December
+(2,685)
+(2,574)
+(4,143)
+轉撥自物業、廠房及設備
+年內折舊撥備
+Depreciation provided during the year
+Transfer from property, plant and equipment
+96,902
+於十二月三十一日的賬面值
+(9,704)
+(0.2)
+影響
+100
+100
+100
+100
+892
+21
+913
+400
+10,734
+83
+11,217
+BYD Company Limited
+200
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+632
+二零二一年十二月三十一日
+626
+100
+Ms. Wang Zhen
+Mr. Dong Jun-qing
+監事:
+王珍女士
+董俊卿先生
+Mr. Yang Dong-sheng*
+楊冬生先生*
+Mr. Li Yong-zhao
+李永釗先生
+Mr. Huang Jiang-feng
+黃江鋒先生
+Ms. Tang Mei**
+唐梅女士**
+││││
+3,146
+28
+3,174
+100
+9. DIRECTORS' AND SUPERVISORS' 9.
+REMUNERATION (CONTINUED)
+董事及監事薪酬(續)
+(b)
+王傳福先生
+5,315
+21
+5,336
+Non-executive directors:
+非執行董事:
+Mr. Lv Xiang-yang
+呂向陽先生
+200
+Mr. Xia Zuo-quan
+Supervisors:
+Ms. Wang Zhen
+Mr. Dong Jun-qing
+夏佐全先生
+200
+200
+200
+Mr. Wang Chuan-fu
+執行董事:
+Executive director:
+RMB'000
+人民幣千元
+Executive director, non-executive directors
+and supervisors (continued)
+(b)
+執行董事、非執行董事及監事(續)
+Salaries,
+allowances
+Pension
+and benefits
+scheme
+Supervisors:
+Total
+2020
+二零二零年
+袍金
+RMB'000
+人民幣千元
+in kind
+薪金、津貼
+及非現金利益
+RMB'000
+人民幣千元
+contributions
+remuneration
+退休金
+計劃供款
+RMB'000
+人民幣千元
+酬金總額
+Fees
+王珍女士
+Mr. Xia Zuo-quan
+200
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+13. EARNINGS PER SHARE ATTRIBUTABLE TO
+ORDINARY EQUITY HOLDERS OF THE PARENT
+13.
+母公司的普通股權益持有人應佔每股
+盈利
+The calculation of the basic earnings per share amount is
+based on profit for the year attributable to ordinary equity
+holders of the parent adjusted for interest paid or payable
+for perpetual loans, and the weighted average number of
+ordinary shares of 2,854,226,188 (2020:2,728,142,855) in
+issue during the year.
+No adjustment has been made to the basic earnings
+per share amounts presented for the years ended 31
+December 2021 and 2020 in respect of a dilution as the
+Group had no potentially dilutive ordinary shares in issue
+during those years.
+The calculation of basic earnings per share is based on:
+每股基本盈利乃按母公司普通股權益持有
+人應佔本年度溢利(就已付利息或應付永續
+債作出調整)及本年度已發行普通股加權
+平均數目2,854,226,188股(二零二零年:
+2,728,142,855股)計算。
+截至二零二一年及二零二零年十二月三十一
+日止年度,就攤薄事件而言,所呈報的每股
+基本盈利概無作出任何調整,乃因本集團於
+該等年度內的已發行普通股並無任何潛在攤
+薄影響。
+每股基本盈利乃按以下基準計算:
+2021
+二零二一年
+RMB'000
+人民幣千元
+204
+2020
+二零二零年
+BYD Company Limited
+於二零二一年已付的永續債利息為人民
+幣61,600,000元(二零二零年:人民幣
+Super-deduction of research and
+development costs
+研究與開發成本的加計扣除
+(885,478)
+(19.6)
+(641,914)
+(9.3)
+Tax charge at the Group's effective
+tax rate
+按本集團實際稅率計算的
+稅項支出
+550,737
+12.2
+868,624
+12.6
+PERPETUAL LOAN INTEREST
+The interest of perpetual loans paid in 2021 was
+RMB61,600,000 (2020:RMB222,987,000). The Group's
+perpetual loans are disclosed in note 43 to the
+consolidated financial statements.
+12.
+永續債利息
+222,987,000元)。本集團的永續債披露於合
+併財務報表附註43內。
+RMB'000
+人民幣千元
+(5,885)
+remuneration
+酬金總額
+RMB'000
+人民幣千元
+Executive director:
+執行董事:
+Mr. Wang Chuan-fu
+王傳福先生
+5,770
+28
+5,798
+Non-executive directors:
+非執行董事:
+Mr. Lv Xiang-yang
+呂向陽先生
+200
+夏佐全先生
+200
+contributions
+退休金
+計劃供款
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+in kind
+薪金、津貼
+及非現金利益
+袍金
+RMB'000
+人民幣千元
+Annual Report 2021
+二零二一年年報
+199
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+9. DIRECTORS' AND SUPERVISORS' 9. 董事及監事薪酬(續)
+REMUNERATION (CONTINUED)
+(b)
+Executive director, non-executive directors
+and supervisors
+200
+(b) 執行董事、非執行董事及監事
+allowances
+Pension
+and benefits
+scheme
+Total
+Fees
+2021
+二零二一年
+Salaries,
+501,254
+人民幣 中國/中國內地
+(136,453)
+Total
+Software
+Know-how
+rights
+工業產權
+RMB'000
+人民幣千元
+開發成本
+RMB’000
+人民幣千元
+costs
+proprietary
+Industrial
+Development
+18. 其他無形資產
+18. OTHER INTANGIBLE ASSETS
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+214
+BYD Company Limited
+主要假設的價值與外界資料來源一致。
+的基準乃預算年度的預測物價指數。
+技術
+RMB’000
+人民幣千元
+軟件
+總計
+RMB'000
+人民幣千元
+398
+1,178
+添置 - 收購
+Additions - acquired
+2,635,613
+2,635,613
+添置 - 內部開發
+Additions internal development
+扣除累計攤銷及減值
+原材料價格通脹 - 用作釐定原材料價格通賬
+amortisation and impairment
+405,802
+3,343
+10,043
+9,688,588
+於二零二一年一月一日的成本,
+Cost at 1 January 2021, net of accumulated
+二零二一年十二月三十一日
+31 December 2021
+RMB'000
+人民幣千元
+10,107,776
+161,479
+折現率 - 折現率乃未考慮稅務費用,並反映
+有關單位的特定風險。
+計算二零二一年及二零二零年十二月三十一
+日汽車及相關產品現金產生單位的使用價值
+時採用了假設。管理層根據下列各項主要假
+設預測現金流量,以進行商譽減值測試。
+related products
+汽車及相關產品
+Automobiles and
+分配予現金產生單位的商譽的賬面值如下:
+The carrying amount of goodwill allocated to the cash-
+generating unit is as follows:
+商譽減值測試(續)
+Impairment testing of goodwill (continued)
+商譽(續)
+17.
+GOODWILL (CONTINUED)
+17.
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+213
+Annual Report 2021
+二零二一年年報
+汽車及相關產品現金產生單位的可收回金額
+乃按照使用價值計算法而釐定,其中以根據
+涵蓋五年期間的財政預算作出並經高級管理
+層批准的現金流量預測為基準。現金流量預
+測的折現率為13%(二零二零年:13%)。用
+於推算汽車及相關產品現金產生單位五年以
+上期間的現金流量的增長率為3%(二零二零
+年:3%),低於汽車行業的長期平均增長率。
+因業務合併而產生的商譽獲分配至汽車及相
+關產品現金產生單位(其為可呈報分部),以
+進行減值測試:
+商譽減值測試
+The recoverable amount of the automobiles and related
+products cash-generating unit has been determined based
+on a value-in-use calculation using cash flow projections
+based on financial budgets covering a five-year period
+approved by senior management. The discount rate
+applied to the cash flow projections is 13%(2020:13%).
+The growth rate used to extrapolate the cash flows of the
+automobiles and related products cash-generating unit
+beyond the five-year period is 3% (2020: 3%), which is less
+than the long-term average growth rate of the automobile
+industry.
+2021
+二零二一年
+RMB'000
+人民幣千元
+2020
+二零二零年
+RMB'000
+65,914
+65,914
+with external information sources.
+The values assigned to key assumptions are consistent
+forecast price index during the budget year.
+the value assigned to raw materials price inflation is the
+The basis used to determine
+-
+Raw materials price inflation
+預算毛利率 - 預算毛利率的價值乃根據緊
+接預算年度前的年度內已達到的平均毛利率
+(預期效率改善後有所增長)及預期市場發展
+釐定。
+Discount rate The discount rate used is before tax and
+reflects specific risks relating to the relevant unit.
+before the budget year, increased for expected efficiency
+improvements and expected market development.
+average gross margins achieved in the year immediately
+the value assigned to the budgeted gross margins is the
+The basis used to determine
+Budgeted gross margins
+Assumptions were used in the value-in-use calculation of
+the automobiles and related products cash-generating unit
+for 31 December 2021 and 2020. The following_describes
+each key assumption on which management has based its
+cash flow projections to undertake impairment testing of
+goodwill.
+商譽的賬面值
+Carrying amount of goodwill
+人民幣千元
+-
+163,055
+Disposal
+出售
+(“Meihao Chuxing”)
+500,000,000
+RMB1,285,000,000
+PRC/
+65%*
+60%
+65%
+Automotive Technology Co., Ltd.
+Mainland China
+美好出行(杭州)汽車科技有限公司
+(「美好出行」)
+人民幣 中國/中國內地
+1,285,000,000
+BYD TOYOTA EV Technology
+RMB345,000,000 PRC/
+50%
+50%
+Co., Ltd.("BTET")
+Mainland China
+比亞迪豐田電動車科技有限公司
+Meihao Chuxing (Hangzhou)
+(「青海鹽湖」)
+人民幣 中國/中國內地
+青海鹽湖比亞迪資源開發有限公司
+RMB400,000,000 PRC/
+30%
+33%
+30%
+Financial lease and financial lease
+Mainland China
+advisory service
+(“International Financial Lease")
+深圳比亞迪國際融資租賃有限公司
+(「國際融資租賃」)
+人民幣 中國/中國內地
+400,000,000
+人民幣 中國/中國內地
+融資租賃及融資租賃顧問服務
+RMB500,000,000
+PRC/
+49%
+40%
+49%
+Development of lithium resources in
+Development Co., Ltd.
+Mainland China
+("Qinghai Salt Lake")
+Qinghai Salt Lake BYD Resources
+(「比亞迪豐田電動車科技」)
+345,000,000元
+Salt Lake and the production and
+於二零二一年十二月三十一日
+At 31 December 2021
+(399)
+(175)
+(224)
+匯兌調整
+Exchange realignment
+(93,081)
+(93,081)
+9,644,705
+減值
+(2,760,122)
+(165,680)
+(33)
+(7,994)
+(2,586,415)
+年內攤銷撥備
+Amortisation provided during the year
+(2,938)
+(2,938)
+Impairment
+Goodwill acquired through business combinations is
+allocated to the automobiles and related products cash-
+generating unit, which is a reportable segment, for
+impairment testing:
+3,227
+398,488
+sale of lithium carbonate
+鹽湖鋰資源的開發及碳酸鋰的生產、
+銷售
+Automobile R&D, automobile leasing
+and operational management; and
+new energy technology
+汽車研發、汽車租賃及經營管理、
+新能源技術
+50% Design and development of electric
+vehicles and their derivatives and
+the parts of electric vehicles and
+their derivatives; import and export,
+sales and after-sales service
+3,484
+電動汽車及其衍生產品以及電動汽車
+零部件及其衍生產品的設計及開發;
+進出口、銷售及售後服務
+累計攤銷及減值
+Accumulated amortisation and impairment
+4,930
+139,680
+23,292,577
+於二零二一年十二月三十一日:
+成本
+Cost
+At 31 December 2021:
+10,049,904
+(13,647,872)
+Impairment testing of goodwill
+65,914
+(9,671)
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+210
+BYD Company Limited
+表附註50中披露。
+租賃負債的到期日分析於合併財務報
+The maturity analysis of lease liabilities is disclosed
+in note 50 to the consolidated financial statements.
+843,286
+1,415,291
+168,507
+248,428
+非流動部分
+Non-current portion
+流動部分
+Current portion
+分析為:
+16.
+LEASES (CONTINUED)
+16.
+租賃(續)
+68,382
+租賃負債利息
+from lessors
+Covid-19-related rent concessions
+assets
+Expense relating to leases of low-value
+Expense relating to short-term leases
+Interest on lease liabilities
+RMB'000
+人民幣千元
+Analysed into:
+二零二零年
+2020
+2021
+於損益表確認的有關租賃的款項如
+下:
+loss in relation to leases are as follows:
+(C)
+The amounts recognised in the statement of profit or
+(c)
+本集團作為承租人(續)
+The Group as a lessee (continued)
+二零二一年
+RMB'000
+人民幣千元
+1,011,793
+1,663,719
+於十二月三十一日的賬面值
+2021
+二零二一年
+RMB'000
+人民幣千元
+下:
+movements during the year are as follows:
+於年內,租賃負債的賬面值及變動如
+The carrying amount of lease liabilities and the
+租賃負債
+(b)
+Lease liabilities
+(b)
+2020
+本集團作為承租人(續)
+租賃(續)
+16.
+LEASES (CONTINUED)
+16.
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+209
+Annual Report 2021
+二零二一年年報
+The Group as a lessee (continued)
+56,422
+二零二零年
+Carrying amount at 1 January
+Carrying amount at 31 December
+(153,877)
+(270,762)
+付款
+(3,065)
+新冠肺炎相關的出租人
+租金優惠
+Payments
+from lessors
+Covid-19-related rent concessions
+RMB'000
+人民幣千元
+the year
+68,382
+年內確認的利息增加
+Accretion of interest recognised during
+344,593
+854,306
+767,720
+1,011,793
+於一月一日的賬面值
+新租賃
+New leases
+56,422
+Financial Lease Co., Ltd.
+Depreciation charge of right-of-use assets
+441,051
+89,122
+32,139
+五年後
+9,070
+24,358
+四年後但五年內
+13,419
+29,174
+三年後但四年內
+After three years but within four years
+After four years but within five years
+After five years
+32,160
+36,098
+兩年後但三年內
+After two years but within three years
+62,442
+40,436
+一年後但兩年內
+After one year but within two years
+109,020
+253,795
+315,233
+BYD Company Limited
+212
+75,585
+人民幣千元
+RMB'000
+賬面淨值
+累計減值
+成本
+於二零二零年十二月三十一日及
+二零二一年十二月三十一日:
+Net carrying amount
+Accumulated impairment
+91,590
+Cost
+At 31 December 2020 and
+商譽
+17.
+17. GOODWILL
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+31 December 2021:
+一年內
+Within one year
+二零二零年
+RMB'000
+人民幣千元
+leased-asset portfolio and they are aligned with the
+The Group has several lease contracts that include
+extension options. These options are negotiated by
+Group's business needs. These extension options
+are expected to be exercised.
+management to provide flexibility in managing the
+續租選擇權
+(d)
+Extension options
+(d)
+1,651,688
+本集團擁有多項包括續租選擇權的租
+賃合同。該等選擇權乃經管理層協商
+釐定,使租賃資產組合管理具有靈活
+性,符合本集團業務需求���該等續租
+選擇權預期將予行使。
+1,746,538
+Total amount recognised in the statement
+of profit or loss
+(3,065)
+新冠肺炎相關的出租人
+租金優惠
+開支
+2,317
+3,303
+1,267,749
+1,233,802
+328,265
+於損益表確認的總金額
+使用權資產的折舊開支
+與短期租賃有關的開支
+與低價值租賃資產有關的
+(e)
+(e)
+2020
+2021
+二零二一年
+RMB'000
+人民幣千元
+於二零二一年十二月三十一日,本集團根據
+與其租戶不可撤銷經營租賃於未來期間應收
+的未折現租賃款項如下:
+本集團根據經營租賃安排出租其若干物業及
+車輛。租賃條款一般要求租戶繳付押金,
+並根據當時現行市場狀況提供定期租金調
+整。本集團於年內確認的租金收入為人民
+幣 151,691,000元(二零二零年:人民幣
+143,117,000).
+本集團作為出租人
+租賃(續)
+16.
+At 31 December 2021, the undiscounted lease payments
+receivable by the Group in future periods under non-
+cancellable operating leases with its tenants are as follows:
+according to the then prevailing market conditions. Rental
+income recognised by the Group during the year was
+RMB151,691,000 (2020: RMB143,117,000).
+The total cash outflow for leases is disclosed in note
+45 to the consolidated financial statements.
+deposits and provide for periodic rent adjustments
+The Group as a lessor
+LEASES (CONTINUED)
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+211
+Annual Report 2021
+二零二一年年報
+16.
+租賃的現金流出總額於合併財務報表
+附註45中披露。
+The Group leases certain of its properties and vehicles
+under operating lease arrangements. The terms of the
+leases generally require the tenants to pay security
+Shenzhen BYD International
+31 December 2021
+人民幣 中國/中國內地
+100,000,000
+50%
+50%
+Limited (“Tianjin BYD")
+Mainland China
+and coaches.
+天津比亞迪汽車有限公司
+(「天津比亞迪」)
+人民幣 中國/中國內地
+50% Assembly and sale of automobiles
+組裝及銷售汽車及客車
+350,000,000
+Xi'an Infrastructure Yadi
+RMB10,000,000
+PRC/
+40%
+40%
+40%
+Automobile Service Co., Ltd.
+Mainland China
+Sale of Automobiles and parts and
+automobile maintenance
+(“Xi'an Infrastructure")
+西安城投亞迪汽車服務有限責任公司
+(「西安城投」)
+人民幣 中國/中國內地
+10,000,000元
+銷售汽車及零部件以及汽車維修
+Shenzhen BYD Electric Car
+RMB300,000,000 PRC/
+PRC/
+60%*
+RMB350,000,000
+5,760,000,000
+registered
+registration
+Ownership
+Voting
+Profit
+Name
+名稱
+capital held
+所持註冊資本詳情
+and business
+登記及業務地點
+interest
+所有權權益
+power
+sharing
+Principal activities
+投票權
+分佔溢利
+主要業務
+Shenzhen Denza New Energy
+RMB5,760,000,000
+PRC/
+50%
+50%
+50%
+Automotive Co., Ltd. (“DENZA")
+深圳騰勢新能源汽車有限公司
+(「騰勢」)
+Mainland China
+人民幣 中國/中國內地
+Research, development and sale of
+automobiles
+研究、開發及銷售汽車
+Tianjin BYD Automobile Company
+50%
+60%
+Investment Co., Ltd.
+(CONTINUED)
+Percentage of
+Particulars of
+Place of
+所佔百分比
+registered
+registration
+Ownership
+Voting
+Name
+名稱
+capital held
+所持註冊資本詳情
+and business
+登記及業務地點
+interest
+所有權權益
+power
+sharing
+Profit
+Principal activities
+投票權
+分佔溢利
+主要業務
+Shenzhen Didi New Energy Auto
+Lease Co., Ltd. ("Shenzhen Didi")
+深圳市迪滴新能源汽車租賃有限公司
+(「深圳迪滴」)
+RMB1,195,616,300 PRC/
+10%
+40%
+10%
+Electric car and fuel car rental and
+19.
+INVESTMENTS IN JOINT VENTURES 19. 於合營公司的投資(續)
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Mainland China
+New energy investment and the
+establishment of industrial electric
+(“BYD Electric Car")
+vehicle industry
+深圳市比亞迪電動汽車投資有限公司
+人民幣 中國/中國內地
+新能源投資及成立工業電動汽車行業
+(「比亞迪電動汽車」)
+300,000,000
+Guangzhou Guang Qi BYD
+RMB300,000,000 PRC/
+51%*
+50%
+所佔百分比
+51%
+New Energy Bus Co., Ltd.
+(“Guang Qi BYD”)
+Mainland China
+of automobiles
+廣州廣汽比亞迪新能源客車有限公司
+人民幣 中國/中國內地
+and accessories and manufacture
+製造及設計汽車部件及配件及製造汽車
+(「廣汽比亞迪」)
+300,000,000
+Annual Report 2021
+二零二一年年報
+217
+Notes to Financial Statements
+Manufacture and design of auto parts
+Place of
+Particulars of
+Percentage of
+人民幣千元
+人民幣千元
+31 December 2020
+二零二零年十二月三十一日
+Cost at 1 January 2020, net of accumulated
+於二零二零年一月一日的成本,
+11,545,664
+7,225
+856
+333,890
+11,887,635
+amortisation and impairment
+扣除累計攤銷及減值
+Additions internal development
+添置 - 內部開發
+1,091,090
+1,091,090
+Additions - acquired
+添置 - 收購
+10,333
+2,518
+218,730
+技術諮詢及技術服務
+Disposal
+出售
+(309)
+(309)
+RMB'000
+RMB'000
+RMB'000
+人民幣千元
+總計
+1,165,678 24,602,865
+(767,190) (14,552,961)
+Net carrying amount at 31 December 2021
+於二零二一年十二月三十一日的
+9,644,705
+3,227
+3,484
+398,488 10,049,904
+賬面淨值
+Annual Report 2021
+二零二一年年報
+215
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+Amortisation provided during the year
+18.
+18. 其他無形資產(續)
+Industrial
+Development
+proprietary
+costs
+rights
+Know-how
+Software
+Total
+開發成本
+RMB'000
+人民幣千元
+工業產權
+RMB'000
+人民幣千元
+技術
+軟件
+OTHER INTANGIBLE ASSETS (CONTINUED)
+Mainland China
+人民幣 中國/中國內地
+1,195,616,300
+年內攤銷撥備
+(7,515)
+9,688,588
+10,043
+3,343
+405,802 10,107,776
+Deferred development costs are stated at cost less
+any impairment losses. Development costs start to be
+amortised once relevant products reach mass production
+conditions. They are amortised using the straight-line
+basis over the commercial lives of the underlying products
+not exceeding ten years, except for those of new energy
+vehicles which are amortised using the unit-of-production
+method, commencing from the date when the products are
+put into commercial production.
+遞延開發成本按成本減任何減值虧損列賬。
+一旦相關產品進入大量生產階段,開發成本
+即開始攤銷。開發成本採用直線法在相關產
+品投入生產不超過十年內攤銷,惟新能源汽
+車自產品投入商業生產之日起使用單位生產
+法攤銷。
+BYD Company Limited
+216
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+19. INVESTMENTS IN JOINT VENTURES
+19. 於合營公司的投資
+2021
+二零二一年
+RMB'000
+人民幣千元
+2020
+二零二零年
+RMB'000
+人民幣千元
+Share of net assets
+分佔淨資產
+6,814,229
+4,442,807
+本集團對合營公司的應收貿易賬款和應付結
+餘披露於合併財務報表附註47(c)。
+The Group's trade receivable and payable balances
+with joint ventures are disclosed in note 47(c) to the
+consolidated financial statements.
+Particulars of the Group's joint ventures are as follows:
+本集團合營公司的詳情如下:
+於二零二零年十二月三十一日的
+賬面淨值
+Net carrying amount at 31 December 2020
+(628,890) (11,752,298)
+(1,413)
+(31)
+(146,148)
+(2,914,802)
+Impairment
+減值
+(187,058)
+(187,058)
+Exchange realignment
+匯兌調整
+(361)
+(361)
+At 31 December 2020
+於二零二零年十二月三十一日
+(2,761,108)
+9,688,588
+3,343
+405,802
+10,107,776
+At 31 December 2020:
+Cost
+於二零二零年十二月三十一日:
+成本
+20,656,964
+Accumulated amortisation and impairment
+累計攤銷及減值
+(10,968,376)
+163,662
+(153,619)
+4,756
+1,034,692 21,860,074
+10,043
+sale and taxi business
+231,581
+Beijing Hualin Loading Co., Ltd.
+("Beijing Hualin”)
+名稱
+Name
+Profit
+Voting
+Ownership
+registration
+所佔百分比
+Percentage of
+Place of
+registered
+Particulars of
+19. 於合營公司的投資 (續)
+INVESTMENTS IN JOINT VENTURES
+(CONTINUED)
+capital held
+所持註冊資本詳情
+19.
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+218
+BYD Company Limited
+技術諮詢及技術服務
+商業服務、技術開發、技術轉讓、
+technology services
+technology consulting and
+development, technology transfer,
+Commercial services, technology
+5,000,000元
+二零二一年十二月三十一日
+and business
+登記及業務地點
+interest
+所有權權益
+power
+出租及銷售電動汽車及燃油汽車及
+出租車業務
+深圳市萬科雲地實業有限公司
+商業服務、技術開發、技術轉讓、
+technology services
+technology consulting and
+development, technology transfer,
+Commercial services, technology
+新能源電動汽車的研發、新能源電動
+汽車租賃
+R&D of new energy electric vehicles,
+and leasing of new energy electric
+vehicles
+Mainland China
+72%
+67%
+72%*
+RMB100,000,000 PRC/
+ShenzhenVanke Yundi Industrial
+Co., Ltd.
+人民幣 中國/中國內地
+30,000,000元
+成都蜀都比亞迪新能源汽車有限公司
+Mainland China
+60%
+57%
+60%*
+PRC/
+RMB30,000,000
+Chengdu Shudu BYD New Energy
+Vehicles Co., Ltd.
+主要業務
+分佔溢利
+投票權
+Principal activities
+sharing
+人民幣 中國/中國內地
+橫琴萬科雲地商業服務有限公司
+(1,446)
+50%
+80%
+Mainland China
+(“BYD Auto Finance")
+比亞迪汽車金融有限公司
+人民幣 中國/中國內地
+(「比亞迪汽車金融」)
+4,000,000,000
+technical services and advice, and
+the establishment of charging poles
+新能源汽車技術、網絡技術開發、
+技術服務及諮詢及充電樁建設
+Auto financing leases, auto loan
+issuance of financial bonds, and
+car finance consulting agency
+80%
+汽車金融租賃、購車貸款、
+Hubei Energy Storage Co., Ltd.
+RMB100,000,000 PRC/
+55%*
+60%
+55%
+Investment and operation of energy
+(“Hubei Energy Storage")
+儲能電站(湖北)有限公司
+(「湖北儲能電站」)
+Mainland China
+人民幣 中國/中國內地
+100,000,000
+storage
+投資及能源倉儲運營
+發行金融債券、汽車金融諮詢機構
+Hengqin Vanke Yundi Commercial
+Services Co., Ltd.
+80%*
+人民幣 中國/中國內地
+100,000,000
+Mainland China
+RMB100,000,000
+PRC/
+49%
+40%
+49%
+Production and sale for special-used
+Mainland China
+北京華林特裝車有限公司
+(「北京華林」)
+100,000,000
+vehicles, import and export storage,
+technologies and agency
+RMB4,000,000,000 PRC/
+生產及銷售專用車、進出口倉儲、
+技術及代理
+RMB100,000,000 PRC/
+49%
+40%
+49%
+New energy vehicle technology,
+Energy Auto Co., Ltd.
+Mainland China
+internet technology development,
+(“Xihu New Energy”)
+杭州西湖比亞迪新能源汽車有限公司
+(「西湖新能源」)
+BYD Auto Finance
+Hangzhou BYD Xihu New
+RMB5,000,000
+Company Limited
+50%
+PRC/
+33%
+power
+technical consultation of precision
+equipment and instruments;
+installation, maintenance and
+production, sale, leasing,
+785,450,798元
+(「華大北斗」)
+深圳華大北斗科技股份有限公司
+processing and sale of machinery
+Mainland China
+Co. Ltd.(“Allystar”)
+14% 5.19%
+5.19%
+人民幣 中國/中國內地
+and equipment parts; computer
+software development, sale and
+technical services;
+研發、生產、銷售、租賃、安裝、維護
+以及精密設備及工具的技術諮詢、
+機器及設備零部件加工及銷售、
+計算機軟件開發、銷售及技術服務
+Research and development of chips,
+algorithms, modules and terminals;
+production of terminal products;
+design, integration, testing and
+sales of chips, algorithms, modules
+and terminal products; design,
+sale, technical consultation and
+technological transfer of operating
+systems and application software
+of related products; investment
+in start-ups; import and export of
+goods and technologies
+芯片、算法、模塊和終端的研發;終端
+產品的生產;芯片、算法、模塊和終
+端產品的設計、集成、測試和銷售;
+相關產品的操作系統和應用軟件的
+設計、銷售、技術諮詢和技術轉讓;
+創業投資;貨物和技術的進出口
+PRC/
+RMB785,450,798
+Allystar Technology (Shenzhen)
+人民幣 中國/中國內地
+20,000,000元
+registration
+Ownership
+Voting
+Profit
+Name
+capital held
+and business
+interest
+power
+sharing
+Principal activities
+名稱
+所持註冊資本詳情
+BYD Company Limited
+Dongguan Tec-Rich
+RMB20,000,000
+登記及業務地點
+PRC/
+所有權權益
+投票權
+分佔溢利
+主要業務
+32.5%
+33% 32.5%
+Research and development,
+Mainland China
+("Dongguan Tec-Rich
+Engineering")
+東莞德瑞精密設備有限公司
+([東莞德瑞」)
+Engineering Co., Ltd.
+224
+比亞迪股份有限公司
+Notes to Financial Statements
+10%
+Research and development of
+Technology Co., Ltd. (“Microgrid")
+Mainland China
+emerging energy technologies;
+Contract energy management;
+深圳市微網數電科技有限公司
+(「微網數電」)
+人民幣 中國/中國內地
+50,000,000元
+The following table illustrates the aggregate financial
+information of the Group's associates that are not
+individually material:
+Network technology services;
+Sales of new energy prime mover
+equipment; Rental of charging
+control equipment; Battery
+sales; Battery rental; Software
+development; Integrated circuit
+design.
+17%
+新興能源技術的研發;合同能源管理;
+網絡技術服務;新能源原動設備的
+銷售;充電控制設備的租賃;電池
+銷售;蓄電池租賃;軟件開發;集成
+電路設計。
+2021
+二零二一年
+RMB'000
+人民幣千元
+2020
+二零二零年
+RMB'000
+人民幣千元
+Share of associates' profit for the year
+Share of associates' total comprehensive
+income
+本年度分佔聯營公司的溢利
+分佔聯營公司的綜合收益總額
+65,981
+9,697
+65,981
+9,697
+Elimination of unrealised profit
+沖銷未變現溢利
+下表說明個別並非屬重大的本集團聯營公司
+的合計財務資料:
+registered
+10%
+分佔溢利
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+20. INVESTMENTS IN ASSOCIATES (CONTINUED)
+20.
+於聯營公司的投資 (續)
+Percentage of
+Particulars of Place of
+所佔百分比
+registered
+registration
+Ownership
+Voting
+主要業務
+Profit
+名稱
+capital held
+and business
+interest
+power
+sharing
+Principal activities
+所持註冊資本詳情
+Shenzhen microgrid Digital
+RMB50,000,000
+登記及業務地點
+PRC/
+所有權權益
+投票權
+Name
+所佔百分比
+Particulars of Place of
+Percentage of
+Yinchuan Sky Rail Operation
+Co., Ltd. (“Yinchuan Operation")
+銀川雲軌運營有限公司(「銀川運營」)
+Principal activities
+Engineering survey, design,
+consultancy, supervision and
+inspection, EPC contracting, and
+specialised contracting.
+工程測量、設計、諮��、監督檢驗、
+EPC承包及專業承包
+Develop, produce, assemble, sell and
+deliver car seats and related parts
+covering the whole car chair, seat
+frame, seat foam and seat cover;
+and provision of after-sales service
+and technical development service
+開發、生產、組裝、銷售及運送汽車座
+椅及有關完整汽車座椅、座椅框架、
+座椅發泡體及座椅套的部件以及提供
+售後服務及技術開發服務
+Finance leasing business; leasing
+business; purchase of leased
+assets at home and abroad;
+400,000,000
+disposal of residual value and
+leasing transaction consulting
+services;
+融資租賃業務、租賃業務、國內外租賃
+資產購置、租賃物業剩餘價值出售及
+維護、租賃交易諮詢服務;
+RMB120,000,000 PRC/
+40%
+29%
+40%
+Clear in laws and regulations or
+人民幣
+Mainland China
+中國/中國內地
+approved by the State Council
+根據明確法律及法規或國務院所批准的
+120,000,000元
+maintenance of leased property;
+業務
+(「天津宏迪」)
+天津宏迪融資租賃有限公司
+sharing
+所有權權益
+投票權
+分佔溢利
+主要業務
+4%
+11%
+4%
+Mainland China
+中鐵工程設計諮詢集團有限公司
+人民幣 中國/中國內地
+730,818,286元
+Shenzhen Faurecia Auto Parts
+人民幣 中國/中國內地
+RMB200,000,000 PRC/
+40%
+30%
+Co., Ltd. (“Faurecia")
+Mainland China
+深圳佛吉亞汽車部件有限公司
+(「佛吉亞」)
+人民幣 中國/中國內地
+200,000,000
+Tianjin Hongdi Financial Lease
+RMB400,000,000 PRC/
+25%
+33%
+25%
+Co., Ltd. ("Tianjin Hongdi ")
+Mainland China
+30%
+Annual Report 2021
+二零二一年年報
+223
+Notes to Financial Statements
+770
+and services of energy-saving
+936,840,000
+(「中治瑞木」)
+人民幣 中國/中國內地
+中治瑞木新能源科技有限公司
+Mainland China
+Development, consultancy, transferal,
+10%
+11%
+10%
+RMB936,840,000 PRC/
+MCC Ramu New Technology Limited
+("MCC Ramu")
+and environmentally friendly
+汽車租賃、公共交通工具保養及維修
+("Qianhai Green Transportation")
+深圳市前海綠色交通有限公司
+(「前海綠色交通」)
+31 December 2021
+二零二一年十二月三十一日
+vehicle maintenance and repairs
+Mainland China
+Car rental, public transportation
+19%
+14%
+19%
+RMB20,000,000 PRC/
+20. INVESTMENTS IN ASSOCIATES (CONTINUED)
+Transportation Co., Ltd.
+20.
+於聯營公司的投資 (續)
+人民幣 中國/中國內地
+20,000,000
+technologies and product
+technologies, power battery
+manufacturing, import and export of
+財務報表附註
+and business
+登記及業務地點
+PRC/
+RMB730,818,286
+所持註冊資本詳情
+capital held
+Profit
+Voting
+Ownership
+registration
+registered
+所佔百分比
+Particulars of Place of
+Percentage of
+Consulting Group Co., Ltd.
+China Railway Engineering
+名稱
+Name
+於聯營公司的投資 (續)
+20.
+20. INVESTMENTS IN ASSOCIATES (CONTINUED)
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+222
+BYD Company Limited
+節能環保技術及產品技術開發、諮詢、
+轉讓及服務、動力電池製造、貨物及
+技術進出口
+goods and technology
+interest
+2,856
+Notes to Financial Statements
+本集團於聯營公司的投資的
+於報告期末,本集團並無重大合營公司。
+There is no material joint venture of the Group at the end of
+the reporting period.
+於合營公司的投資 (續)
+19.
+INVESTMENTS IN JOINT VENTURES
+(CONTINUED)
+19.
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+BYD Company Limited
+220
+The following table illustrates the summarised aggregate
+根據集團對該基金簽署的認購協議,基
+金預計募集規模不超過6億美元,集團
+作為有限合夥人擬認繳出資1億美元。
+根據該等投資對象的組織章程細則,董
+事會議決須董事會全體成員的三分之二
+以上或全體同意決定。因此,儘管本集
+團於投資對象的擁有權超過50%,本集
+團並不控制該等投資對象。
+智能駕駛軟件研究、銷售及服務
+to be raised will be no more than US$600 million. The
+Group intends to contribute US$100 million, as a limited
+partner.
+Group in respect of the fund, the amount anticipated
+According to the subscription agreement signed by the
+According to the articles of association of these
+investees, any matter to be approved by the Investment
+Committee may only be approved with the unanimous
+consent of all Investment Committee members. The
+Group takes a seat on the Investment Committee.
+Therefore, even though the Group's ownership interest
+in the fund is below 20%, the Group still can exert
+common control on the fund.
+control even though the Group's ownership interests in
+these investees are greater than 50%.
+consent of a two-third majority or all members of the
+board of directors. Thus, the Group does not have
+According to the articles of association of these
+investees, a board resolution requires unanimous
+100,000,000
+中國/中國內地
+人民幣
+intelligent driving software
+根據該等投資對象的組織章程細則,任
+何由投資委員會批准的事項,均須取得
+投資委員會全體成員一致同意後方可批
+准。本集團在投資委員會中佔有一席之
+地,故即使本集團於基金中的所有權權
+益低於20%,本集團仍可對基金實施共
+同控制。
+Mainland China
+financial information of the Group's joint ventures that are
+not individually material:
+2021
+二零二一年
+RMB'000
+人民幣千元
+Shenzhen Qianhai Green
+Goodwill on acquisition
+分佔淨資產
+Share of net assets
+二零二零年
+RMB'000
+人民幣千元
+2020
+2021
+二零二一年
+RMB'000
+人民幣千元
+20. 於聯營公司的投資
+20. INVESTMENTS IN ASSOCIATES
+4,442,807
+6,814,229
+本集團於合營公司之投資賬面總額
+Aggregate carrying amount of the Group's
+investments in joint ventures
+下表說明個別並非屬重大的本集團合營公司
+的合計財務資料概要:
+12,748
+沖銷未變現溢利
+Elimination of unrealised profit
+(199,905)
+(607,486)
+應佔合營公司之綜合(虧損)/收入
+總額
+comprehensive (loss)/income
+Share of joint ventures' total
+(199,905)
+(607,486)
+應佔本年度合營公司之(虧損)/
+溢利
+Share of joint ventures' (loss)/profit for
+the year
+RMB'000
+人民幣千元
+2020
+二零二零年
+311,567
+本集團務求對未收回的應收賬款維持嚴格監
+管,並設有信貸監控部門以減少信貸風險。
+高級管理人員定期審閱逾期結餘。於報告期
+末,本集團有若干信貸集中風險,原因為本
+集團自本集團最大客戶及首五名最大客戶
+的應收貿易賬款分別為4%(二零二零年:
+11%)及13%(二零二零年:25%)。本集團
+並無就其應收貿易賬款結餘持有任何抵押品
+或其他信貸提升保障。應收貿易賬款為不計
+息。
+Research, sales and service of
+60%
+主要業務
+分佔溢利
+投票權
+Principal activities
+sharing
+power
+interest
+所有權權益
+and business
+登記及業務地點
+capital held
+所持註冊資本詳情
+名稱
+Name
+Profit
+Voting
+Hengqin Hexie Dingtai Equity
+Ownership
+registered
+所佔百分比
+Place of
+Particulars of
+Percentage of
+(CONTINUED)
+19.
+INVESTMENTS IN JOINT VENTURES 19. 於合營公司的投資(續)
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+219
+Annual Report 2021
+二零二一年年報
+registration
+60%
+RMB1,401,000,000 PRC/
+25%
+60%*
+RMB100,000,000 PRC/
+(「迪派智行」)
+深圳市迪派智行科技有限公司
+Co., Ltd. ("Dipai Zhixing")
+Shenzhen Dipai Zhixing Technology
+股權投資:大部分投資於技術、物流、
+醫療創新及其他行業
+industries
+medical innovation and other
+were made in technology, logistics,
+Equity investment: most investments
+股權投資:大部分投資於數字新媒體
+產業、物流及其他領域的子基金
+logistics and other areas
+42.8%
+Equity investment: most investments
+were made in sub-funds in TMT,
+Harmony基金(有限合夥)
+16.7%
+16.7%**
+16.7%
+USD600,000,000*** Cayman Islands
+Harmony Fund LP
+1,401,000,000
+(有限合夥)(「和諧鼎泰」)
+人民幣 中國/中國內地
+橫琴和諧鼎泰股權投資企業
+Mainland China
+Investment LP (“Hexie Dingtai")
+42.8%
+600,000,000美元*** 開曼群島
+本集團一般向客戶提供一至十二個月的信貸
+期。
+The Group seeks to maintain strict control over its
+outstanding receivables and has a credit control
+department to minimise credit risk. Overdue balances are
+reviewed regularly by senior management. At the end of
+the reporting period, the Group had certain concentrations
+of credit risk as 4% (2020: 11%) and 13% (2020:25%)
+of the Group's trade receivables were due from the
+Group's largest customer and the five largest customers,
+respectively. The Group does not hold any collateral
+or other credit enhancements over its trade receivable
+balances. Trade receivables are non-interest-bearing.
+The Group generally provides the customers with a credit
+period of one to twelve months.
+22.
+其他非流動金融資產
+2021
+二零二一年
+RMB'000
+人民幣千元
+2020
+二零二零年
+RMB'000
+人民幣千元
+Listed equity investments, at fair value
+Other unlisted investments, at fair value
+以公允價值計量的上市權益投資
+以公允價值計量的其他非上市投資
+14,415
+14,593
+219,557
+270,303
+233,972
+22. OTHER NON-CURRENT FINANCIAL ASSETS
+284,896
+The fair values of the listed equity investment determined
+are based on the closing prices quoted in active markets.
+They are accounted for using their fair values based on the
+quoted market prices (level 1: quoted price (unadjusted) in
+active markets) without deduction for transaction costs.
+The fair values of the unlisted equity investments are
+measured using a valuation technique with unobservable
+inputs and hence categorised within level 2 and level 3
+of the fair value hierarchy. The major assumptions used
+in the valuation for investments in private companies are
+disclosed in note 49 to the financial statements.
+由於本集團並無選擇於其他綜合收益中確認
+公允價值收益或虧損,上述股權投資被分類
+為以公允值計量且其變動計入損益的金融資
+產。
+上市股權投資之公允價值乃按活躍市場所報
+收市價釐定。該等投資根據所報市價(第一
+級:於活躍市場之報價(未經調整))按公允
+價值入賬,而不扣除交易成本。
+非上市證券公允價值採用估值技術計量,當
+中涉及無法觀察輸入數據,故分類於公允價
+值等級第二級和第三級。用於評估私營企業
+的主要假設披露於財務報表附註49。
+Annual Report 2021
+二零二一年年報
+227
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+23. COMPLETED PROPERTY HELD FOR SALE
+23.
+持作出售已竣工物業
+The above equity investments were classified as financial
+assets at fair value through profit or loss as the Group has
+not elected to recognise the fair value gain or loss through
+other comprehensive income.
+2020
+二零二一年十二月三十一日
+財務報表附註
+1,090,772
+1,022,781
+總賬面值
+Annual Report 2021
+二零二一年年報
+225
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+21. EQUITY INVESTMENTS AT FAIR VALUE 21. 以公允價值計量並計入其他綜合收益
+THROUGH OTHER COMPREHENSIVE INCOME
+的權益投資
+2021
+二零二一年
+RMB'000
+人民幣千元
+2020
+二零二零年
+RMB'000
+人民幣千元
+31 December 2021
+Listed equity investments, at fair value
+Unlisted equity investments, at fair value
+1,242,057
+1,420,080
+1,671,779
+2,913,836
+1,420,080
+The above listed equity investments were irrevocably
+designated at fair value through other comprehensive
+income as the Group considers these investments to be
+strategic in nature.
+During the year ended 31 December 2021, the Group
+received dividends in the amounts of RMB405,900 (2020:
+RMB12,123,000) from the above investments.
+由於本集團將上述上市權益投資視為策略性
+質,故該等投資不可撤銷地被指定為以公允
+價值計量並計入其他綜合收益。
+截至二零二一年十二月三十一日止年度期
+間,本集團從上述投資中獲得的股息金額
+為人民幣405,900元(二零二零年:人民幣
+12,123,000).
+226
+BYD Company Limited
+比亞迪股份有限公司
+以公允價值計量的上市權益投資
+以公允價值計量的非上市權益投資
+二零二零年
+RMB'000
+人民幣千元
+Completed property held for sale, at cost:
+14,360,250
+9,912,370
+17,971,556 16,639,924
+1,614,412
+497,556
+43,354,782
+31,396,358
+BYD Company Limited
+228
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+4,346,508
+二零二一年十二月三十一日
+Trade receivables
+Impairment
+25. 應收貿易賬款
+2021
+2020
+二零二一年
+RMB'000
+人民幣千元
+二零二零年
+RMB'000
+人民幣千元
+應收貿易賬款
+減值
+37,838,050 41,474,843
+(2,244,912) (2,166,947)
+35,593,138
+39,307,896
+25. TRADE RECEIVABLES
+9,408,564
+人民幣千元
+RMB'000
+At the beginning of year
+持作出售已竣工物業,按成本:
+於年初
+2,900,852
+3,365,916
+Recognised in the statement of
+profit or loss
+於損益表確認
+(688,885)
+(465,064)
+At end of year
+於年末
+The above completed property held for sale was
+a property named Yadi Sancun which has been.
+purchased from a real estate enterprises in 2017.
+2,211,967
+2,900,852
+上述持作出售已竣工物業為於二零一
+七年自一家房地產企業購買的亞迪三
+村物業。
+24. INVENTORIES
+Raw materials
+Work in progress
+Finished goods
+Moulds held for production
+原材料
+在製品
+製成品
+持作生產模具
+24.
+存貨
+2021
+二零二一年
+RMB'000
+人民幣千元
+2020
+二零二零年
+Aggregate carrying amount of the Group's
+investments in associates
+2021
+二零二一年
+RMB'000
+人民幣千元
+959,534
+深電能科技集團有限公司
+(「深電能」)
+Name
+名稱
+Percentage of
+Particulars of
+Place of
+所佔百分比
+registered
+registration
+Ownership
+Voting
+Profit
+capital held
+所持註冊資本詳情
+and business
+登記及業務地點
+interest
+所有權權益
+power
+sharing
+Principal activities
+投票權
+分佔溢利
+於聯營公司的投資(續)
+本集團聯營公司的詳情如下:
+主要業務
+Particulars of the Group's associates are as follows:
+INVESTMENTS IN ASSOCIATES (CONTINUED)
+人民幣 中國/中國內地
+收購的商譽
+891,543
+131,238
+131,238
+Provision for impairment
+減值撥備
+1,090,772
+1,022,781
+1,090,772
+1,022,781
+The Group's trade receivable and payable balances with
+associates are disclosed in note 47(c) to the consolidated
+financial statements.
+本集團對聯營公司的應收貿易賬款和應付結
+餘披露於合併財務報表附註47(c)。
+20.
+Annual Report 2021
+二零二一年年報
+221
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+20.
+Tibet Zabuye Lithium Industry
+200,000,000
+RMB930,000,000 PRC/
+29%
+29%
+Taxi service, electric vehicle
+Auto Operation Co., Ltd.
+(“Hangzhou Xihu Operation")
+杭州西湖新能源汽車運營有限公司
+(「杭州西湖運營」)
+Shendianneng Technology Group
+Co., Ltd. ("Shendianneng")
+Mainland China
+rental, electric vehicle charging
+infrastructure
+人民幣 中國/中國內地
+50,000,000元
+RMB200,000,000 PRC/
+40%
+20%
+40%
+出租車服務、電力車租賃、電力車充電
+基礎設施
+Electric power engineering design,
+installation, operation of electric
+vehicle charging infrastructure, and
+sale of electricity
+Co., Ltd. (“Zabuye Lithium")
+西藏日喀則紮布耶鋰業高科技有限
+公司(「紮布耶鋰業」)
+電力工程設計、電力車安裝及運行及
+充電基礎設施、電力出售
+29%
+RMB50,000,000 PRC/
+Mainland China
+10,000,000
+Hangzhou Xihu New Energy
+18%
+18%
+18%
+Mainland China
+人民幣 中國/中國內地
+930,000,000
+mineral salt
+鋰硼產品及礦鹽
+Shan Mei Ling Qiu Bi Xing
+RMB10,000,000
+PRC/
+Products of lithium and boron
+20%
+20%
+Industry Development Co., Ltd.
+Mainland China
+(“Shan Mei Ling Qiu Bi Xing")
+山煤靈丘比星實業開發有限公司
+(「山煤靈丘比星」)
+人民幣 中國/中國內地
+Solar power ecosystem remediation
+of agricultural products
+20%
+太陽能生態系統矯正農產品
+PREPAYMENTS, OTHER RECEIVABLES AND 27. 預付款項、其他應收賬款及其他資產
+27.
+OTHER ASSETS
+31 December
+2021
+二零二一年
+十二月三十一日 | 十二月三十一日
+2020
+二零二零年
+RMB'000
+RMB'000
+31 December 2021
+二零二一年十二月三十一日
+人民幣千元
+31 December
+財務報表附註
+39,271
+235
+Annual Report 2021
+二零二一年年報
+本集團將應收票據重新分類至以公允價值計
+量並計入其他綜合收益的金融資產,呈列為
+應收款項融資。截至二零二一年十二月三十
+一日,本集團就應收款項融資計提的累計減
+值撥備人民幣7,990,000元(二零二零年十二
+月三十一日:人民幣13,878,000元)。
+本公司將應收款項中的部分應收賬款的業務
+模式既以到期收取合同現金流量為目標又以
+出售為目標。因此,將該部分應收賬款分類
+為以公允價值計量且變動計入其他綜合收益
+(以後期間可重分類至損益)的金融資產。
+The Group reclassified bills receivable into financial
+assets at fair value through other comprehensive income,
+presented as receivables financing. As of 31 December
+2021, the accumulated impairment provision for receivables
+financing provided by the Group was RMB7,990,000(31
+December 2020: RMB13,878,000).
+The Company has changed the business model for
+a portion of its receivables to target both to receive
+the contractual cash flows when due and the sales.
+Accordingly, this portion of the receivables is classified as
+a financial asset at fair value through other comprehensive
+income (which can be reclassified to profit or loss in
+subsequent periods).
+8,862,340
+8,743,126
+81,973
+減:其他綜合收益-公允價值變動
+Less: other comprehensive income
+change in fair value
+8,944,313
+8,782,397
+人民幣千元
+Notes to Financial Statements
+Non-current portion
+(95,422)
+Prepayment for items of property,
+5,911,685
+15,038,908
+45,944
+46,166
+724,350
+1,987,573
+5,141,391
+13,005,169
+僱員借貸
+預付款項
+2,647,025
+(95,466)
+5,236,813
+13,100,635
+非即期部分
+按金及其他應收賬款
+減值
+2,670,118
+18,378,849
+Loans to employees
+Prepayments
+Deposits and other receivables
+Impairment
+Current portion
+108,418
+12,347,871
+其他
+Others
+plant and equipment
+2,561,700
+6,030,978
+物業、廠房及設備項目的預付款項
+即期部分
+8,930,479
+90,285
+13,834
+0.44%
+預期信貸虧損率
+Expected credit loss rate
+合計
+三年以上
+兩至三年
+一至兩年
+一年內
+Total
+years
+years
+two years
+year
+Over three
+11.01%
+to three
+one
+Two
+Within
+於二零二零年十二月三十一日的賬齡
+Ageing as at 31 December 2020
+392,985
+200,069
+27,643
+103,632
+61,641
+預期信貸虧損(人民幣千元)
+Expected credit losses (RMB'000)
+12,282,904
+200,069
+One to
+27.65%
+96.73%
+2.16%
+銀行承兌票據
+貿易應收款項
+Trade receivables
+Bank acceptance bills
+商業承兌票據
+Commercial acceptance bills
+二零二零年
+RMB'000
+人民幣千元
+2020
+2021
+二零二一年
+RMB'000
+人民幣千元
+26. 應收款項融資
+26. RECEIVABLES FINANCING
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+234
+BYD Company Limited
+Gross carrying amount (RMB'000)
+賬面總值(人民幣千元)
+16,591,434
+820,216
+87,868
+201,806
+6,135,372
+17,701,324
+預期信貸虧損(人民幣千元)
+72,975
+At 31 December 2021, an impairment loss of
+RMB95,466,000 (2020:RMB95,422,000) has been
+provided, including a full provision for a deposit of
+RMB94,616,000 (2020: RMB94,616,000) paid to a supplier.
+24,293
+195,207
+382,760
+Expected credit losses (RMB'000)
+於二零二一年十二月三十一日,已作出減
+值虧損撥備人民幣95,466,000元(二零二零
+年:人民幣95,422,000元),包括就支付一
+名供應商的按金人民幣94,616,000元(二零
+二零年:人民幣94,616,000元)計提全額撥
+備。
+(345,591)
+236
+長期應收賬款
+減值
+Long-term receivables
+Impairment
+二零二一年
+RMB'000
+人民幣千元
+2021
+29. 長期應收賬款
+29. LONG-TERM RECEIVABLES
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+238
+BYD Company Limited
+(289,112)
+2020
+5,635,217
+(345,591)
+預期信貸虧損(人民幣千元)
+8,838,973
+3.91%
+賬面總值(人民幣千元)
+預期信貸虧損率
+Expected credit losses (RMB'000)
+Gross carrying amount (RMB'000)
+Expected credit loss rate
+二零二零年
+2020
+2021
+二零二一年
+以下載列本集團合同資產使用撥備矩陣的信
+貸風險資料:
+於各報告日期進行減值分析,以計量預期信
+貸虧損。本集團應用簡化法計算預期信貸虧
+損。
+5.13%
+exposure on the Group's contract assets using a provision
+matrix:
+二零二零年
+RMB'000
+人民幣千元
+1,878,736
+73,823
+41,273
+49,907
+(32,550)
+23,916
+73,823
+RMB'000
+人民幣千元
+二零二零年
+二零二一年
+RMB'000
+人民幣千元
+2020
+2021
+於年末
+At end of year
+impairment losses, net
+1,209,748
+減值虧損淨值
+(Reversal of impairment losses)/
+於年初
+At beginning of year
+長期應收賬款的減值虧損撥備變動如下:
+。
+年內,確認分期收款銷售貨品採用的折現率
+介乎4.75%至4.90%(二零二零年:4.75%至
+4.90%) •
+long-term receivables are as follows:
+The movements in the loss allowance for impairment of
+goods sold by instalments ranged from 4.75% to 4.90%
+(2020: 4.75% to 4.90%).
+During the year, the discount rate used for recognising
+1,804,913
+1,168,475
+(73,823)
+(41,273)
+(減值虧損轉回)/
+Set out below is the information about the credit risk
+An impairment analysis is performed at each reporting date
+to measure expected credit losses. The Group applies the
+simplified approach in calculating expected credit losses.
+289,112
+二零二零年
+2020
+2021
+二零二一年
+RMB'000
+人民幣千元
+於十二月三十一日,合同資產的預計收回或
+結算時間如下:
+二零二一年及二零二零年合同資產賬面淨值
+增加的原因為各年末商品銷售持續增加所
+致。截至二零二一年十二月三十一日止年
+度,人民幣345,591,000元(二零二零年:人
+民幣289,112,000元)已確認為合同資產預期
+信貸虧損撥備。本集團與客戶的貿易條款及
+信貸政策披露於合併財務報表附註25。
+The expected timing of recovery or settlement for contract
+assets as at 31 December is as follows:
+The increase in the net carrying amount of contract
+assets in 2021 and 2020 was the result of the increase
+in the ongoing sale of goods at the end of each of
+the years. During the year ended 31 December 2021,
+RMB345,591,000 (2020: RMB289,112,000) was recognised
+as an allowance for expected credit losses on contract
+assets. The Group's trading terms and credit policy with
+customers are disclosed in note 25 to the consolidated
+financial statements.
+5,346,105
+8,493,382
+(289,112)
+107,161
+減值
+Impairment
+5,635,217
+RMB'000
+8,838,973
+Sale of goods and construction services.
+Contract assets arising from:
+二零二零年
+RMB'000
+人民幣千元
+二零二一年
+RMB'000
+人民幣千元
+2020
+2021
+合同資產
+28.
+28. CONTRACT ASSETS
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+由下列項目產生的合同資產:
+銷售商品及建造服務
+人民幣千元
+Within one year
+一年內
+345,591
+214,366
+56,479
+74,746
+289,112
+2020
+二零二零年
+RMB'000
+人民幣千元
+2021
+二零二一年
+RMB'000
+人民幣千元
+於年末
+At end of year
+減值虧損淨值
+Impairment losses, net
+於年初
+At beginning of year
+合同資產的減值虧損撥備之變動如下:
+The movement in the loss allowance for impairment of
+contract assets is as follows:
+28. 合同資產(續)
+CONTRACT ASSETS (CONTINUED)
+8,588,942
+After one year
+一年後
+5,588,617
+250,031
+46,600
+BYD Company Limited
+8,838,973
+Annual Report 2021
+二零二一年年報
+237
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+28.
+5,635,217
+260,996
+賬面總值(人民幣千元)
+虧損率
+Gross
+於二零二一年十二月三十一日
+採用撥備矩陣
+Based on provision matrix
+個別評估
+Individually assessed
+As at 31 December 2020
+採用撥備矩陣
+Based on provision matrix
+個別評估
+Individually assessed
+As at 31 December 2021
+以下載列本集團應收貿易賬款使用撥備矩陣
+的信貸風險資料:
+exposure on the Group's trade receivables using a
+provision matrix:
+Expected
+Set out below is the information about the credit risk
+25.
+TRADE RECEIVABLES (CONTINUED)
+25.
+31 December 2021
+二零二一年十二月三十一日
+Notes to Financial Statements
+財務報表附註
+231
+Annual Report 2021
+二零二一年年報
+於各報告日期採用撥備矩陣或個別評估進行
+減值分析,以計量預期信貸虧損。對於對手
+方未能按要求償款的若干應收貿易賬款而
+言,本集團單獨計提撥備。對於其他使用撥
+備矩陣方法的應收貿易賬款,矩陣之撥備率
+乃基於按產品類型劃分具有類似虧損模式的
+多個客戶分部組別的發票日期的天數。該計
+算反映了概率加權結果、貨幣時間價值及於
+報告日可獲得的有關過去事件、當前狀況及
+未來經濟狀況預測的合理可支持性資料。
+An impairment analysis is performed at each reporting
+date using a provision matrix or individually assessed
+to measure expected credit losses. For certain trade
+receivables for which the counterparty failed to make
+demanded repayment, the Group made provision
+individually. For others using provision matrix method, the
+provision rates of the provision matrix are based on the
+invoice date for groupings of various customer segments
+with similar loss patterns by product type. The calculation
+reflects the probability-weighted outcome, the time value of
+money and reasonable and supportable information that is
+available at the reporting date about past events, current
+conditions and forecasts of future economic conditions.
+二零二零年虧損撥備增加乃由於下列原因:
+1)信貸風險敞口獲單獨評估的應收貿易賬款
+增加導致虧損撥備增加人民幣441,315,000
+元;及2)預期信貸虧損增加導致應收貿易賬
+款的虧損撥備增加。
+虧損撥備並無重大變動。
+The increase in the loss allowance of 2020 was due
+to the following: 1) increase in the loss allowance of
+RMB441,315,000 as a result of an increase in trade
+receivables whose credit risk exposure was individually
+assessed; and 2) an increase in ECLS resulted in increase
+in the loss allowance of trade receivables.
+There are no significant changes in the loss allowance.
+應收貿易賬款(續)
+應收貿易賬款(續)
+25.
+Expected
+credit
+(RMB'000)
+賬面總值
+預期
+losses
+amount
+credit
+carrying
+Gross
+於二零二零年十二月三十一日
+2,244,912
+37,838,050
+3.19%
+1,162,245
+36,461,387
+carrying
+78.64%
+1,376,663
+11,714,678
+(人民幣千元)
+(人民幣千元)
+(RMB'000)
+(RMB'000)
+信貸虧損
+賬面總值
+預期信貸
+預期
+loss rate
+credit
+losses
+amount
+1,082,667
+TRADE RECEIVABLES (CONTINUED)
+25.
+二零二一年十二月三十一日
+696,082
+1,942,461
+三年以上
+Over three years
+2,665,393
+4,839,276
+兩至三年
+Two to three years
+7,979,930 11,429,333
+一至兩年
+One to two years
+24,517,088
+20,831,471
+一年內
+The government subsidies of new energy automobiles
+Within one year
+RMB'000
+2020
+二零二零年
+二零二一年
+RMB'000
+人民幣千元
+2021
+於報告期末,按發票日期及扣除虧損撥備的
+應收貿易賬款的賬齡分析如下:
+of the reporting period, based on the invoice date and net
+of loss allowance, is as follows:
+The ageing analysis of the trade receivables as at the end
+應收貿易賬款(續)
+25.
+25. TRADE RECEIVABLES (CONTINUED)
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+229
+人民幣千元
+sales are included in the above trade receivables.
+35,593,138
+39,307,896
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+230
+BYD Company Limited
+2,166,947
+2,244,912
+於年末
+(1,563)
+(9,592)
+(43,675)
+(320,565)
+撇銷無法收回的金額
+匯兌調整
+648,770
+408,122
+減值虧損淨值
+The movements in the loss allowance for impairment of
+trade receivables are as follows:
+上述應收貿易賬款含新能源汽車銷售政府補
+貼款。
+應收貿易賬款減值虧損撥備的變動載列如
+下:
+At beginning of year
+Impairment losses, net
+Amount written off as uncollectible
+(人民幣千元)
+Exchange realignments
+2021
+二零二一年
+RMB'000
+人民幣千元
+2020
+二零二零年
+RMB'000
+人民幣千元
+於年初
+2,166,947
+1,563,415
+At end of year
+1,578,142
+Expected
+Expected
+Annual Report 2021
+二零二一年年報
+414,612
+41,103
+22,195,377
+1.87%
+10.13%
+405,631
+2.38%
+2,708,191
+64,483
+211,973
+97,053
+10,594,970
+8,126,585
+1.93%
+1.19%
+合計
+233
+三年以上
+Total
+years
+years
+two years
+一至兩年
+year
+一年內
+Over three
+to three
+39,896,701
+one
+Two
+Within
+於二零二零年十二月三十一日的賬齡
+Ageing as at 31 December 2020
+預期信貸虧損(人民幣千元)
+兩至三年
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二��年十二月三十一日
+Gross carrying amount (RMB'000)
+3.20%
+100%
+25.80%
+39.71%
+0.53%
+預期信貸虧損率
+Expected credit loss rate
+合計
+三年以上
+兩至三年
+一至兩年
+一年內
+Total
+years
+years
+Over three
+25.
+TRADE RECEIVABLES (CONTINUED)
+25.
+應收貿易賬款(續)
+Non-new energy business
+非新能源業務
+Expected credit losses (RMB'000)
+Ageing as at 31 December 2021
+Within
+Two
+one
+year
+One to
+two years
+to three
+於二零二一年十二月三十一日的賬齡
+賬面總值(人民幣千元)
+One to
+預期信貸虧損率
+新能源業務(包括新能源汽車產品的補貼)
+以下載列本集團應收貿易賬款使用撥備矩陣
+的信貸風險資料:
+應收貿易賬款(續)
+25.
+energy automobile products)
+New energy business (including subsidies to new
+exposure on the Group's trade receivables using a
+provision matrix:
+Gross carrying amount (RMB'000)
+TRADE RECEIVABLES (CONTINUED)
+25.
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+Ageing as at 31 December 2021
+比亞迪股份有限公司
+BYD Company Limited
+2.00%
+86.78%
+2,166,947
+41,474,843
+797,372
+1,369,575
+虧損率
+預期信貸
+(人民幣千元)
+(RMB'000)
+信貸虧損
+loss rate
+credit
+232
+於二零二一年十二月三十一日的賬齡
+Set out below is the information about the credit risk
+Two
+Expected credit loss rate
+769,260
+24,178,483
+3.18%
+11.64%
+1,865,520
+217,055
+3.11%
+4,912,677
+152,919
+Within
+180,922
+預期信貸虧損(人民幣千元)
+Expected credit losses (RMB'000)
+8,040,930
+9,359,356
+賬面總值(人民幣千元)
+Gross carrying amount (RMB'000)
+2.72%
+218,364
+預期信貸虧損率
+1.93%
+one
+year
+One to
+two years
+to three
+Over three
+years
+years
+Annual Report 2021
+二零二一年年報
+一年內
+一至兩年
+兩至三年
+三年以上
+合計
+Expected credit loss rate
+Total
+(人民幣千元)
+Based on provision matrix
+採用撥備矩陣
+1,209,748
+As at 31 December 2020
+1,209,748
+Expected
+credit
+losses
+預期信貸
+loss rate
+預期
+虧損率
+信貸虧損
+(RMB'000)
+(人民幣千元)
+3.41%
+credit
+41,273
+41,273
+賬面總值
+Annual Report 2021
+二零二一年年報
+239
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+29.
+LONG-TERM RECEIVABLES (CONTINUED)
+29.
+(RMB'000)
+長期應收賬款(續)
+exposure on the Group's long-term receivables using a
+provision matrix:
+以下載列本集團長期應收賬款使用撥備矩陣
+的信貸風險資料:
+As at 31 December 2021
+於二零二一年十二月三十一日
+Gross
+Expected
+carrying
+amount
+Set out below is the information about the credit risk
+於二零二零年十二月三十一日
+3.93%
+Expected
+長期銀行貸款的流動部分-
+有抵押
+3.00-4.75
+2022
+21,304
+3.00-4.75
+2021
+bank loans secured
+3,941,817
+二零二一年
+Current portion of long-term
+bank loans unsecured
+長期銀行貸款的流動部分-
+無抵押
+1.70-6.60
+2022
+二零二二年
+二零二二年
+5,634,714
+Current portion of long-term
+同業拆息±130個基點
+Bank loans unsecured
+銀行貸款 - 無抵押
+1M LIBOR±80bps-
+1,571,269
+3M LIBOR±100bps-
+二零二一年
+2021
+同業拆息±140個基點
+766,826
+12M LIBOR±140bps
+3個月倫敦銀行
+同業拆息±100個基點
+二零二一年
+1個月倫敦銀行
+同業拆息±80個基點
+3個月倫敦銀行
+−12個月倫敦銀行
+3M LIBOR±130bps
+3.40-5.46
+2021
+3,310,000
+4.75
+2025
+90,137
+3.00-4.75
+2025
+109,620
+銀行貸款 - 有抵押
+二零二五年
+Bank loans unsecured
+銀行貸款-無抵押
+2.70-5.80
+2025
+8,159,265
+3.10-6.60
+二零二五年
+Bank loans secured
+非流動
+Non-current
+二零二一年
+15,860,376
+23,652,507
+Corporate bonds - unsecured
+公司債券- 無抵押
+4.60-4.87
+(d),(h),
+7,078,970
+(i) and (j)
+4.98-5.17(e), (f) and (g)
+(e)、(f)及(g)
+3,992,136
+(d)、(h)、
+(i)、及(j)
+22,939,346
+27,644,643
+二零二二年
+15,633,864
+2021
+1.06-4.13
+已收客戶短期墊款
+from customers
+Sale of housing
+Sale of goods
+銷售房產
+銷售商品
+Short-term advances received
+913,728
+301,987
+13,807,310
+7,461,848
+4,200,152
+Total contract liabilities
+合同負債總值
+724,040
+一月一日
+二零二零年
+RMB'000
+人民幣千元
+二零二零年
+RMB'000
+人民幣千元
+二零二一年
+RMB’000
+人民幣千元
+CONTRACT LIABILITIES
+34.
+合同負債
+Details of contract liabilities as at 31 December 2021 and
+2020 are as follows:
+於二零二一年及二零二零年十二月三十一日
+合同負債的詳情如下:
+31 December
+31 December
+1 January
+2021
+2020
+2020
+於
+於
+於
+十二月三十一日 | 十二月三十一日
+Contract liabilities mainly represent receipts in advance
+from customers prior to the satisfaction of performance
+obligations. The relevant income from such contract
+is recognised upon satisfaction of the performance
+obligations by the Group. In most cases, the Group
+generally satisfies the performance obligations and
+二零二五年
+recognises the income within one year upon receipt of
+payment in advance from customers.
+8,185,888
+31 December 2020
+二零二零年十二月三十一日
+Effective
+Maturity/Notes
+RMB'000
+實際利率(%) 還款期限/附註
+(%)
+人民幣千元
+流動
+Bank loans unsecured
+銀行貸款-無抵押
+0.90-3.55
+2022
+8,633,089
+Current
+RMB'000
+人民幣千元
+實際利率(%) 還款期限/附註
+interest rate
+4,502,139
+合同負債主要為達成履約責任之前預先從客
+戶收到的款項。該合同的相關收入於本集團
+達成履約責任時確認。在大多數情況下,本
+集團通常達成履約責任,並在收到客戶預付
+款項後的一年內確認收入。
+Annual Report 2021
+二零二一年年報
+245
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+35.
+INTEREST-BEARING BANK AND OTHER 35. 計息銀行及其他借款
+BORROWINGS
+31 December 2021
+二零二一年十二月三十一日
+Effective
+interest rate
+(%) Maturity/Notes
+14,721,038
+2030
+二零三零年
+14,635,875
+Bank loans unsecured
+此外,本公司於報告期末已為本集團最
+多為人民幣16,730,494,000元(二零二
+零年:人民幣27,967,203,000元)的若
+干銀行貸款作出擔保。
+period.
+(b)
+The carrying amounts of the Group's and the
+Company's bank borrowings approximate to their fair
+values.
+(b)
+本集團及本公司的銀行借款的賬面值與
+其公允價值相若。
+In addition, the Company has guaranteed certain of the
+Group's bank loans of up to RMB16,730,494,000 (2020:
+RMB27,967,203,000) as at the end of the reporting
+(c)
+(C)
+除金額為人民幣2,172,057,000元(二
+零二零年:人民幣1,375,451,000元)
+的銀行貸款以美元計值,所有借款均以
+人民幣計值。
+(d)
+On 15 June 2017, the Company issued
+RMB1,500,000,000 corporate bonds. The bonds have
+a maturity of five years due in 2022 and bear a fixed
+interest rate of 4.87% per annum to be paid annually.
+Investors have the right to sell back all or part of
+their bonds at par value to the Company on the third
+interest_payment date (15 June 2020),or release the
+investor sell-back option. The bonds were listed on the
+Shenzhen Stock Exchange on 14 July 2017.
+(d)
+Except for bank loans of RMB2,172,057,000(2020:
+RMB1,375,451,000) which are denominated in United
+States dollars ("US$"), all borrowings are denominated
+in RMB.
+本集團於報告期末的若干運輸
+工具抵押賬面總值為零(二零二
+零年:人民幣1,781,000元)(附
+註14)。
+(ii)
+there is no mortgage over certain of the Group's
+motor vehicles with an aggregate carrying
+value at the end of the reporting period (2020:
+RMB1,781,000) (note 14).
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+INTEREST-BEARING BANK AND OTHER 35.
+計息銀行及其他借款(續)
+BORROWINGS (CONTINUED)
+Notes:
+附註:
+(a) Certain of the Group's bank loans are secured by:
+(a)
+本集團若干銀行貸款乃以下列各項抵
+押:
+(i)
+mortgages over certain of the Group's freehold
+land and buildings with an aggregate carrying
+value at the end of the reporting period
+of approximately RMB182,646,000 (2020:
+RMB191,209,000) (note 14);
+(i)
+本集團於報告期末的若干永久
+業權土地及樓宇抵押賬面總值
+約為人民幣182,646,000元(二
+零二零年:人民幣191,209,000
+元)(附註14)。
+(ii)
+於二零一七年六月十五日,本公司發行
+人民幣1,500,000,000元的公司債券。
+債券於二零二二年到期,為期五年,
+按固定年利率4.87%計息,每年付息一
+次。投資者有權於第三個付息日(二零
+二零年六月十五日)按面值向本公司售
+回其全部或部分債券,或放棄投資者售
+回選擇權。本債券於二零一七年七月十
+四日在深圳證券交易所上市。
+Notes to Financial Statements
+BYD Company Limited
+比亞迪股份有限公司
+part of their bonds at par value to the Company on
+the second interest payment date (22 August_2020),
+or release the investor sell-back option. The bonds
+were listed on the Shenzhen Stock Exchange on
+25 September 2018. As of 31 December 2020,the
+corporate bonds had been repaid in full.
+On 18 December 2018,the Company issued
+RMB1,000,000,000 corporate bonds. The bonds have
+a maturity of five years due in 2023 and bear interest
+at a fixed interest rate of 4.98% per annum to be paid
+annually. Investors have the right to sell back all or part
+of their bonds at par value to the Company on the third
+interest payment date (21 December 2021), or release
+the investor sell-back option. The bonds were listed on
+the Shenzhen Stock Exchange on 29 January 2019.
+On 22 February 2019, the Company issued
+RMB2,500,000,000 corporate bonds. The bonds have
+a maturity of five years due in 2024 and bear interest
+at a fixed interest rate of 4.60% per annum to be paid
+annually. Investors have the right to sell back all or part
+of their bonds at par value to the Company on the third
+interest payment date (22 February 2022),or release
+the investor sell-back option. The bonds were listed on
+the Shenzhen Stock Exchange on 13 March 2019.
+On 22 August 2018, the Company issued
+RMB1,600,000,000 corporate bonds. The bonds have
+a maturity of four years due in 2022 and bear interest
+at a fixed interest rate of 5.75% per annum to be paid
+annually. Investors have the right to sell back all or
+附註:(續)
+(g)
+(h)
+於二零一八年四月十二日,本公司發行
+人民幣3,000,000,000元的公司債券。
+債券於二零二三年到期,為期五年,
+按固定年利率5.17%計息,每年付息一
+次。投資者有權於第三個付息日(二零
+二一年四月十二日)按面值向本公司售
+回其全部或部分債券,或放棄投資者售
+回選擇權。本債券於二零一八年六月四
+日在深圳證券交易所上市。
+於二零一八年八月二十二日,本公司
+發行人民幣1,600,000,000元的公司債
+券。債券於二零二二年到期,為期四
+年,按固定年利率5.75%計息,每年付
+息一次。投資者有權於第二個付息日
+(二零二零年八月二十二日)按面值向本
+公司售回其全部或部分債券,或放棄投
+資者售回選擇權。本債券於二零一八年
+九月二十五日在深圳證券交易所上市。
+截至二零二零年十二月三十一日,該公
+司債券已悉數償付。
+於二零一八年十二月十八日,本公司
+發行人民幣1,000,000,000元的公司債
+券。債券於二零二三年到期,為期五
+年,按固定年利率4.98%計息,每年付
+息一次。投資者有權於第三個付息日
+(二零二一年十二月二十一日)按面值向
+本公司售回其全部或部分債券,或放棄
+投資者售回選擇權。債券於二零一九年
+一月二十九日在深圳證券交易所上市。
+於二零一九年二月二十二日,本公司
+發行人民幣2,500,000,000元的公司債
+券。債券於二零二四年到期,為期五
+年,按固定年利率4.60%計息,將每年
+付息一次。投資者有權於第三個付息日
+(二零二二年二月二十二日)按面值向本
+公司售回其全部或部分債券,或放棄投
+資者售回選擇權。債券於二零一九年三
+月十三日在深圳證券交易所上市。
+(f)
+of their bonds at par value to the Company on the third
+interest payment date (12 April 2021), or release the
+investor sell-back option. The bonds were listed on the
+Shenzhen Stock Exchange on 4 June 2018.
+12 April 2018, the Company issued
+RMB3,000,000,000 corporate bonds. The bonds have
+a maturity of five years due in 2023 and bear interest
+at a fixed interest rate of 5.17% per annum to be paid
+annually. Investors have the right to sell back all or part
+(h)
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+35.
+INTEREST-BEARING BANK AND OTHER
+35.
+計息銀行及其他借款(續)
+BORROWINGS (CONTINUED)
+Notes:(continued)
+(e)
+On
+(e)
+(f)
+(g)
+248
+34.
+247
+35.
+51,270,597
+BYD Company Limited
+246
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+23,625,954
+31 December 2021
+35.
+INTEREST-BEARING BANK AND OTHER
+35.
+計息銀行及其他借款(續)
+BORROWINGS (CONTINUED)
+2021
+二零二一年十二月三十一日
+(i)及(j)
+8,880,459
+14,745,495
+銀行貸款-無抵押
+3M LIBOR±155bps
+494,117
+3個月倫敦銀行
+同業拆息±155個基點
+8,743,519
+Corporate bonds - unsecured
+公司債券 - 無抵押
+3.56-5.17
+(k)
+2,046,439
+3.56-4.87
+10,789,958
+33,729,304
+(d),(g), (h),
+(i) and (j)
+(d)、(g)、(h)、
+2020
+Annual Report 2021
+二零二一年年報
+二零二一年
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+In the second to fifth years (notes (k)),
+inclusive
+24,603,895
+38,398,002
+公司債券
+一年內(附註(d)、(h)、(i)及(j))
+第二至第五年內(附註(k))
+Within one year (notes (d), (h), (i) and (j))
+7,078,970
+2,046,439
+8,880,459
+(包括首尾兩年)
+9,125,409
+12,872,595
+33,729,304 51,270,597
+3,992,136
+Corporate bonds
+246,005
+8,708,194
+Analysed into:
+Bank loans repayable:
+Within one year
+In the second year
+分析為:
+應償還銀行貸款:
+一年內
+15,860,376 23,652,507
+第二年內
+7,911,210
+5,791,296
+In the third to fifth years, inclusive
+Beyond five years
+第三至第五年內(包括首尾兩年)
+五年以後
+832,309
+二零二零年
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+應付貿易賬款及票據
+An ageing analysis of the trade and bills payables as at the
+end of the reporting period, based on the invoice date, is
+as follows:
+於報告期末,應付貿易賬款及票據按發票日
+期的賬齡分析如下:
+Within three months
+三個月內
+31.
+Four to six months
+四至六個月
+七個月至一年
+One to two years
+一至兩年
+Two to three years
+兩至三年
+Seven months to one year
+TRADE AND BILLS PAYABLES
+31.
+31 December 2021
+二零二一年十二月三十一日
+(ii)
+December 2021 mainly represented the balance of
+a guarantee deposit in the supervised accounts and
+frozen accounts.
+於二零二一年十二月三十一日的受限制
+銀行存款結餘主要指受監管賬戶和凍結
+賬戶中的保證金餘額。
+(iii)
+At the end of the reporting period, cash and cash
+equivalents of the Group denominated in Renminbi
+("RMB") amounted to RMB45,901,807,000 (2020:
+RMB10,887,983,000). The RMB is not freely convertible
+into other currencies. However, under Mainland
+China's Foreign Exchange Control Regulations and
+Administration of Settlement, Sale and Payment of
+Foreign Exchange Regulations, the Group is permitted
+to exchange RMB for other currencies through banks
+authorised to conduct foreign exchange business.
+Cash at banks earns interest at floating rates based on
+daily bank deposit rates. Most of the bank balances,
+pledged deposits and restricted bank deposits are
+deposited with creditworthy banks with no recent history of
+default.
+(iii)
+於報告期末,本集團的現金及現金等價
+物以人民幣(「人民幣」)計值,達人民
+幣45,901,807,000元(二零二零年:人
+民幣10,887,983,000元)。雖然人民幣
+並不能自由兌換為其他貨幣但根據中國
+大陸的外匯管理條例及結匯、售匯及付
+匯管理規定,本集團獲准通過獲授權進
+行外匯業務的銀行兌換人民幣為其他貨
+幣。
+銀行存款按每日銀行存款利率賺取按浮息計
+算的利息。大部分銀行結餘、已抵押存款及
+受限制銀行存款存放於無近期拖欠款項記錄
+且信譽良好的銀行。
+Annual Report 2021
+二零二一年年報
+241
+Notes to Financial Statements
+財務報表附註
+Over three years
+The balance of restricted bank deposits as at 31
+三年以上
+2020
+OTHER PAYABLES AND ACCRUALS
+Other payables
+Accrued payroll
+32.
+其他應付款項及應計費用
+2021
+二零二一年
+RMB'000
+人民幣千元
+32.
+2020
+RMB'000
+人民幣千元
+其他應付款項
+應計工資
+43,562,010 10,700,809
+5,848,870
+4,835,248
+二零二零年
+normally settled within terms of 30 to 180 days.
+應付貿易賬款乃不計息,一般按30日至180
+日期限內支付。
+The trade payables are non-interest-bearing and are
+二零二零年
+RMB'000
+人民幣千元
+60,286,364 39,300,148
+14,519,081
+7,281,323
+3,578,580
+2,606,167
+245,269
+399,682
+211,117
+123,549
+203,468
+80,761
+79,043,879 49,791,630
+2021
+二零二一年
+RMB'000
+人民幣千元
+49,410,880
+(ii)
+(i)
+73,823
+1,878,736
+73,823
+BYD Company Limited
+240
+比亞迪股份有限公司
+(人民幣千元)
+Notes to Financial Statements
+31 December 2021
+二零二一年十二月三十一日
+30. CASH AND CASH EQUIVALENTS, RESTRICTED
+30.
+現金及現金等價物、受限制銀行存款
+BANK DEPOSITS AND SHORT-TERM DEPOSITS
+財務報表附註
+(RMB'000)
+信貸虧損
+虧損率
+carrying
+amount
+credit
+losses
+Expected
+credit
+loss rate
+賬面總值
+(RMB'000)
+(人民幣千元)
+Based on provision matrix
+採用撥備矩陣
+1,878,736
+預期
+預期信貸
+及短期定期存款
+於二零二一年十二月三十一日,已就
+銀行承兌匯票、信用證及其他擔保信
+用證抵押銀行存款人民幣528,128,000
+元(二零二零年:人民幣429,041,000
+元)。
+2021
+二零二一年
+(528,128)
+(429,041)
+受限制銀行存款
+(!!)
+(109,109)
+(277,491)
+(i)
+Cash and cash equivalents
+(iii) 49,819,860
+13,738,498
+Notes:
+附註:
+(i)
+At 31 December 2021, a bank deposit of
+RMB528,128,000 (2020: RMB429,041,000) was
+pledged for bank acceptance bills, letters of credit and
+other guarantee credit.
+現金及現金等價物
+已抵押存款
+減:
+Restricted bank deposits
+二零二零年
+Notes
+附註
+RMB'000
+人民幣千元
+RMB'000
+Cash and bank balances
+現金及銀行結餘
+35,119,860 11,238,498
+Time deposits
+定期存款
+15,337,237
+3,206,532
+50,457,097 14,445,030
+Less:
+Pledged deposits
+2020
+Gross
+Other payables have an average term of three months.
+15,536,057
+Tax
+statement of
+amount
+effect
+Total
+profit or loss
+Gross
+or loss
+effect
+Total
+profit or loss
+總額
+稅收影響
+總計
+amount
+of profit
+recognized in
+Tax
+Line item
+to profit or loss
+於其他綜合收益表中確認的
+Hedge
+對沖收益/(虧損)總額
+ineffectiveness
+in the
+statement
+自其他綜合收益
+重新分類至損益的金額
+other comprehensive income
+Line item
+(gross
+amount)
+in the
+Gross
+於損益中確認的
+對沖無效部分
+comprehensive income
+損益表中的
+行項目
+Foreign currency
+外幣存款
+136,896
+(34,224) 102,672
+N/A
+deposit
+止年度
+不適用
+and gains
+其他收入及收益
+BYD Company Limited
+244
+比亞迪股份有限公司
+Notes to Financial Statements
+(136,896) 34,224 (102,672) Other income
+十二月三十一日
+31 December 2021
+截至二零二一年
+總額
+稅收影響
+總計
+行項目(總額)
+RMB'000
+RMB'000
+RMB'000
+RMB'000
+「人民幣千元人民幣千元人民幣千元
+人民幣千元
+RMB'000
+人民幣千元 人民幣千元人民幣千元
+RMB'000
+RMB’000
+Year ended
+損益表中的
+其他應付款項平均期限為三個月。
+Amount reclassified from
+Total hedging gain/(loss)
+RMB'000
+RMB'000
+二零二零年
+Assets
+Liabilities
+負債
+RMB'000
+RMB’000
+人民幣千元
+人民幣千元
+人民幣千元
+Foreign currency forward contracts
+外匯遠期合同
+31,600
+24
+人民幣千元
+資產
+負債
+資產
+BYD Company Limited
+242
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+33.
+DERIVATIVE FINANCIAL INSTRUMENTS
+33. 衍生金融工具
+2021
+二零二一年
+Assets
+2020
+Liabilities
+57,541
+recognized in other
+Portion classified as current:
+Foreign currency forward contracts
+於2020年,本集團無簽訂指定套期會計關係
+的外匯遠期合約。
+Annual Report 2021
+二零二一年年報
+243
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+於二零二一年,本集團簽訂了名義金額
+為港幣43,556,000,000元(折合人民幣
+36,299,236,000元)的外匯遠期合約,根據
+該協議本集團以固定的港幣對人民幣匯率,
+用港幣換取人民幣,目的是對該港幣存款的
+匯率風險進行套期。本集團通過定性分析,
+確定套期工具與被套期項目的數量比例為
+1:1,無套期無效的部分。該項套期會計關係
+已於二零二一年終止。
+33.
+33.
+衍生金融工具(續)
+Cash flow hedge - Foreign currency risk (continued)
+現金流對沖 - 外匯風險(續)
+The effects of the cash flow hedge on the statement of
+profit or loss and the statement of comprehensive income
+are as follows:
+現金流對沖對損益表及綜合收益表的影響如
+下:
+DERIVATIVE FINANCIAL INSTRUMENTS
+(CONTINUED)
+現金流對沖 - 外匯風險
+本集團已訂立多份外匯遠期合同以管理匯率
+敞口,這些合同並不符合對沖會計處理之條
+件。非對沖衍生工具的公允價值變動收益約
+人民幣89,116,000元(二零二零年:虧損約
+人民幣57,555,000元),已於本年損益內扣
+除。衍生金融工具為一年內到期。
+非對沖衍生工具:
+外匯遠期合同
+31,600
+24
+24
+57,541
+Non-hedging derivatives:
+The Group has entered into various foreign currency
+forward contracts to manage its exchange rate exposures,
+which did not meet the criteria for hedge accounting. Gains
+on changes in the fair value of non-hedging derivatives
+amounting to approximately RMB89,116,000 were
+charged to profit or loss during the year (2020: losses of
+approximately RMB57,555,000). The maturity of derivative
+financial instruments is within one year.
+Cash flow hedge - Foreign currency risk
+In 2021, the Group entered into a foreign currency forward
+contract with a notional amount of HK$43,556,000,000
+(equivalent to RMB36,299,236,000), under which the Group
+exchanged Hong Kong dollars for Renminbi at a fixed
+exchange rate of Hong Kong dollars to Renminbi for the
+purpose of hedging the exchange rate risk of the Hong
+Kong dollar deposits. Through the qualitative analysis, the
+Group determined that the ratio of the number of hedging
+instruments to the hedged items is 1:1 and there is no
+invalid hedging portion. The hedge accounting relationship
+was terminated in 2021.
+In_2020,the Group did not entered into any foreign
+currency forward contracts with designated hedge
+accounting relationships.
+分類為流動部分:
+人民幣千元
+年內於損益表扣除/(抵用)的
+遞延稅項
+2020
+disposal of
+remitted by
+through depreciation
+comprehensive
+arising from
+to be
+fair value in excess of
+through other
+tax payment
+以公允價值計量
+並計入其他綜合
+收益的權益投資
+公允價值調整
+RMB’000
+人民幣千元
+anticipated
+the earnings
+taxes on
+Withholding
+assets at Depreciation
+of financial
+adjustments
+Fair value
+investments
+of equity
+Deferred
+income profit or loss
+以公允價值
+計量並計入
+損益的金融
+資產公允
+價值調整
+RMB'000
+人民幣千元
+allowance
+subsidiaries
+374,429
+12,341 1,064,096
+363,758
+10,671
+1,051,755
+年內於損益表扣除/(抵用)的
+遞延稅項
+the statement of profit or loss during
+Deferred tax charged/(credited) to
+二零二一年一月一日
+At 1 January 2021
+人民幣千元人民幣千元
+RMB'000
+RMB'000
+總計
+支付稅費
+產生的遞延
+出售附屬公司
+預期將由
+附屬公司
+匯出的盈利
+預扣稅
+RMB'000
+人民幣千元
+折舊撥備的
+超額折舊
+RMB'000
+人民幣千元
+Total
+a subsidiary
+adjustments
+at fair value
+遞延稅項負債
+遞延稅項(續)
+24,976
+171,326
+年內於損益表計入/(扣除)
+的遞延稅項
+the statement of profit or loss
+Deferred tax credited/(charged) to
+359,852 304,996
+305,132
+189,212
+134,999
+737,638
+於二零二零年一月一日
+At 1 January 2020
+539,785 18,954 2,816,142
+679,397
+375,901
+150,969
+213,555
+837,581
+於二零二一年十二月三十一日
+At 31 December 2021
+during the year
+(29,272)
+the year
+59,347
+15,496 2,047,325
+394 392,596
+39.
+Fair value
+Deferred tax liabilities
+DEFERRED TAX (CONTINUED)
+39.
+二零二��年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+254
+BYD Company Limited
+15,890 2,439,921
+629,353 201,320
+364,479
+159,940
+159,975
+908,964
+於二零二零年十二月三十一日
+At 31 December 2020
+during the year
+269,501 (103,676)
+Deferred tax charged to other
+年內於其他綜合收益扣除的
+73,867
+the year
+12,341 635,255
+492,485
+509,252 (15,957)
+15,957
+542,503
+810
+(810)
+the statement of profit or loss during
+Deferred tax charged/(credited) to
+63,644
+於二零二零年一月一日
+At 1 January 2020
+人民幣千元人民幣千元
+RMB'000
+RMB'000
+總計
+支付稅費
+出售附屬公司
+產生的遞延
+預期將由
+附屬公司
+匯出的盈利
+預扣稅
+RMB'000
+人民幣千元
+折舊撥備的
+超額折舊
+RMB 000
+人民幣千元
+Total
+a subsidiary
+Deferred tax charged to other
+allowance
+年內於其他綜合收益扣除的
+(63,644)
+遞延稅項負債(續)
+遞延稅項(續)
+39.
+For presentation purposes, certain deferred tax
+assets and liabilities have been offset with an amount
+of RMB902,826,000 (2020:RMB670,946,000) in the
+consolidated statement of financial position. The following
+is an analysis of the deferred tax balances of the Group for
+financial reporting purposes:
+Deferred tax liabilities (continued)
+DEFERRED TAX (CONTINUED)
+39.
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+256
+BYD Company Limited
+1,064,096
+12,341
+1,051,755
+於二零二零年十二月三十一日
+At 31 December 2020
+遞延稅項
+comprehensive income during the year
+(63,644)
+3,064 376,221
+profit or loss
+以公允價值
+計量並計入
+損益的金融
+資產公允
+價值調整
+RMB'000
+人民幣千元
+income
+at fair value
+of equity
+investments
+adjustments
+Fair value
+Deferred tax liabilities (continued)
+DEFERRED TAX (CONTINUED)
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+255
+Annual Report 2021
+二零二一年年報
+39.
+12,341 1,512,392
+1,415,513
+10,671
+73,867
+於二零二一年十二月三十一日
+At 31 December 2021
+遞延稅項
+comprehensive income during the year
+73,867
+39.
+以公允價值計量
+並計入其他綜合
+收益的權益投資
+公允價值調整
+RMB'000
+人民幣千元
+遞延稅項(續)
+Fair value
+disposal of
+comprehensive
+fair value
+through other
+arising from
+tax payment
+Deferred
+subsidiaries
+remitted by
+to be
+anticipated
+the earnings
+taxes on
+Withholding
+depreciation
+in excess of
+Depreciation
+through
+assets at
+of financial
+adjustments
+遞延稅項負債(續)
+15,890 2,439,921
+629,353 201,320
+50,044 338,465
+364,479
+11,422
+37.
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+251
+Annual Report 2021
+二零二一年年報
+OTHER LIABILITIES
+37.
+本集團對汽車提供保用,並承諾維修或更換
+運行不良的產品部件。撥備為保用的數額乃
+基於銷售量以及過往維修程度及退換記錄而
+作出估計。估計基準乃經持續審查並於適當
+時作修訂。
+is reviewed on an ongoing basis and revised where
+appropriate.
+The Group provides warranties on automobiles and the
+undertaking to repair or replace items that fail to perform
+satisfactorily. The amount of the provision for the warranties
+is estimated based on sales volumes and past experience
+of the level of repairs and returns. The estimation basis
+1,938,689
+2,355,564
+於十二月三十一日
+At 31 December
+(698,311)
+(811,734)
+年內已動用金額
+Amounts utilised during the year
+812,806
+1,228,609
+其他負債
+1,824,194
+2021
+二零二一年
+RMB'000
+人民幣千元
+二零二零年
+BYD Company Limited
+財務擔保合同之信貸風險獲分類至第一級。
+於本年度,概無於級間的轉撥 (二零二零
+年:無)。
+財務擔保合同乃按預期信貸虧損準備及初步
+確認金額減已確認收入之累計金額(以較高
+者為準)計量。預期信貸虧損乃按現金短缺
+之估計計量,其乃根據補償融資機構就所產
+生信貸虧損之預期款項,減任何本集團預期
+從若干客戶收取之任何金額計算。初步確認
+金額為屬非重大之財務擔保合同於初步確認
+之公允價值。
+財務擔保合同指就授予客戶的融資而向金融
+機構作出的擔保。
+二零二零年五月二十六日,比亞迪召開
+第六屆董事會第三十八次會議,審議通
+過了《關於控股子公司引入戰略投資者
+的議案》,同意本公司及本集團之子公
+司比亞迪半導體與第三方戰略投資者
+簽署《投資協議》及《股東協議》及其附
+件。協議約定在一定條件下,比亞迪需
+承擔以固定金額回購戰略投資者對比亞
+迪半導體所投資股權的義務。截至二零
+二一年十二月三十一日止年度,該義務
+的現值金額為人民幣2,922,108,000元
+(二零二零年十二月三十一日:人民幣
+2,772,729,000)
+The credit exposure of the financial guarantee contracts
+is classified as stage 1. During the year, there were no
+transfers between stages (2020: Nil).
+The financial guarantee contracts are measured at the
+higher of the expected credit loss allowance and the
+amount initially recognised less the cumulative amount of
+income recognised. The expected credit loss allowance
+is measured by estimating the cash shortfalls, which are
+based on the expected payments to reimburse the financial
+institutions for a credit loss incurred less any amounts that
+the Group expects to receive from certain customers. The
+amount initially recognised representing the fair value at
+initial recognition of the financial guarantee contracts was
+not significant.
+The financial guarantee contracts represent guarantees
+given to financial institutions in connection with facilities
+granted to customers.
+RMB2,772,729,000).
+On 26 May 2020, BYD held the 38th Meeting of the
+Sixth Session of the Board and the "Resolution on the
+Introduction of Strategic Investors by the Controlled
+Subsidiary" was considered and approved. It agreed
+that the Company and BYD Semiconductor entered
+into the Investment Agreement and the Shareholders'
+Agreement and appendices thereof with other strategic
+investors. Pursuant to the above agreements, the
+Company shall repurchase the equity interests of
+BYD Semiconductor held by these strategic investors
+at a fixed consideration under some specific agreed
+circumstances. For the year ended 31 December
+2021, the present value of such repurchase obligation
+was RMB2,922,108,000 (31 December 2020:
+3,001,147
+2,936,143
+192,239
+36,179
+14,035
+2,772,729
+2,922,108
+投資購回權*
+財務擔保合同
+其他
+Financial guarantee contracts
+Others
+Investment repurchase right*
+RMB'000
+人民幣千元
+2020
+252
+1,938,689
+Provision for the year
+investors' option to sell back at the end of the third
+On 22 April 2020,BYD was approved by the China
+Securities Regulatory Commission to publicly issue
+corporate bonds (Phase I) (Epidemic Prevention and
+Control Bond) (abbreviated as “20YD01”,bond code
+“149101”) to qualified investors (“CSRC Approval
+[2020] No. 58″). The bonds had a term of 5 years, with
+the issuer's option to adjust the coupon rate and the
+of their bonds at par value to the Company on the third
+interest payment date (9 August 2022), or release the
+investor sell-back option. The bonds were listed on the
+Shenzhen Stock Exchange on 15 August 2019.
+On 9 August 2019, the Company issued
+RMB2,500,000,000 corporate bonds. The bonds have
+a maturity of five years due in 2024 and bear interest
+at a fixed interest rate of 4.80% per annum to be paid
+annually. Investors have the right to sell back all or part
+of their bonds at par value to the Company on the third
+interest_payment date (14 June 2022), or release the
+investor sell-back option. The bonds were listed on the
+Shenzhen Stock Exchange on 11 July 2019.
+17 June 2019, the Company issued
+RMB1,000,000,000 corporate bonds. The bonds have
+a maturity of five years due in 2024 and bear interest
+at a fixed interest rate of 4.86% per annum to be paid
+annually. Investors have the right to sell back all or part
+(k)
+(j)
+On
+(i)
+Notes:(continued)
+BORROWINGS (CONTINUED)
+計息銀行及其他借款(續)
+35.
+INTEREST-BEARING BANK AND OTHER
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+249
+Annual Report 2021
+二零二一年年報
+35.
+year. The final issue size was RMB2,000,000,000,with
+a coupon rate of 3.56%.
+於一月一日
+年度撥備
+附註:(續)
+(j)
+At 1 January
+二零二零年
+RMB'000
+人民幣千元
+2020
+2021
+二零二一年
+RMB'000
+人民幣千元
+保用
+Warranties
+撥備
+36.
+36. PROVISION
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+250
+BYD Company Limited
+2,000,000,000元,票面利率為3.56%。
+於二零二零年四月二十二日,比亞迪獲
+中國證券監督管理委員會批准向合格投
+資者公開發行公司債券(第一期)(疫情
+防控債)(債券簡稱「20亞迪01」,債券
+代碼「149101」)(「證監許可[2020]58
+號」)。債券期限為5年期,附第3年末
+發行人調整票面利率選擇權和投資者
+回售選擇權。最終發行規模為人民幣
+於二零一九年八月九日,本公司發行人
+民幣2,500,000,000元的公司債券。債
+券於二零二四年到期,為期五年,按
+固定年利率4.80%計息,將每年付息一
+次。投資者有權於第三個付息日(二零
+二二年八月九日)按面值向本公司售回
+其全部或部分債券,或放棄投資者售回
+選擇權。債券於二零一七年八月十五日
+在深圳證券交易所上市。
+於二零一九年六月十七日,本公司發行
+人民幣1,000,000,000元的公司債券。
+債券於二零二四年到期,為期五年,按
+固定年利率4.86%計息,將每年付息一
+次。投資者���權於第三個付息日(二零
+二二年六月十四日)按面值向本公司售
+回其全部或部分債券,或放棄投資者售
+回選擇權。債券於二零一九年七月十一
+日在深圳證券交易所上市。
+(k)
+(i)
+作為呈列用途,若干遞延稅項資產及負債已
+於合併財務狀況表中與人民幣902,826,000
+元的金額抵銷 (二零二零年:人民幣
+670,946,000元)。下列為就財務報告用途的
+本集團遞延稅項結餘分析:
+比亞迪股份有限公司
+財務報表附註
+資產減值
+超額折舊
+RMB'000
+人民幣千元
+折舊撥備的
+Total
+Others
+losses
+warranties
+transactions
+grants
+Tax
+intercompany provision for
+depreciation Impairment Government
+of assets
+allowance
+profits from Accruals and
+in excess of
+Unrealised
+Depreciation
+遞延稅項資產
+Deferred tax assets
+年內的遞延稅項資產及負債變動如下:
+The movements in deferred tax assets and liabilities during
+the year are as follows:
+RMB'000
+人民幣千元
+遞延稅項
+來自公司間
+政府補貼 交易的未變現溢利
+RMB'000
+款項及撥備
+(8,971)
+53,580
+(71,383)
+年內於損益表計入/(扣除)
+的遞延稅項
+the statement of profit or loss
+Deferred tax credited/(charged) to
+159,940
+908,964 159,975
+於二零二一年一月一日
+At 1 January 2021
+人民幣千元人民幣千元 人民幣千元 人民幣千元
+人民幣千元
+人民幣千元
+RMB'000
+RMB'000
+RMB'000
+RMB'000
+RMB’000
+總計
+其他
+稅項虧損
+擔保應計
+Notes to Financial Statements
+39.
+39.
+人民幣千元
+RMB'000
+2020
+二零二零年
+2021
+二零二一年
+RMB'000
+人民幣千元
+At 1 January
+本年度與政府補助及補貼相關的遞延收入變
+動如下:
+grants and subsidies during the year are as follows:
+The movements in deferred income related to government
+2,269,176
+4,481,036
+政府補助及補貼
+Government grants and subsidies
+二零二零年
+RMB'000
+人民幣千元
+二零二一年
+RMB'000
+人民幣千元
+2020
+2021
+遞延收入
+38.
+38. DEFERRED INCOME
+二零二一年十二月三十一日
+31 December 2021
+於一月一日
+DEFERRED TAX
+2,269,176
+Received during the year
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+253
+Annual Report 2021
+二零二一年年報
+已就基本研究及開發活動收取多項政府補
+助。與尚未動用開支有關之已收政府補助已
+計入合併財務狀況表的遞延收入。若干與資
+產相關之已收政府補助亦已計入遞延收入,
+並在相關資產使用年期內每年按等額分期調
+撥至損益。
+2,269,176
+(1,667,853)
+4,481,036
+(2,270,594)
+(10,070)
+1,714,998
+4,483,258
+(804)
+Various government grants have been received for
+basic research and development activities. Government
+grants received for which related expenditure has not yet
+been undertaken are included in deferred income in the
+consolidated statement of financial position. A certain grant
+received relates to an asset is also credited to deferred
+income and is released to profit or loss over the expected
+useful life of the relevant asset by equal annual instalments
+於十二月三十一日
+調撥至損益
+年內已還
+年內已收
+At 31 December
+Released to profit or loss
+Returned during the year
+2,232,101
+2021
+二零二一年
+RMB'000
+人民幣千元
+Accumulated balance of equity-settled
+二零二一年
+RMB'000
+人民幣千元
+41.
+本公司於2021年1月28日完成發行總數為
+133,000,000股的新H股,於2021年11月9
+日完成發行總數為50,000,000股的新H股,
+每股面值人民幣1元,導致本年股本增加人
+民幣183,000,000元,股本溢價增加人民幣
+36,048,731,000
+SHARE-BASED PAYMENT
+of share premium of RMB36,048,731,000.
+increase in share capital of RMB183,000,000 and increase
+The Company completed the issuance of an aggregate of
+133,000,000 new H shares on January 28, 2021,and an
+aggregate of 50,000,000 new H shares on November 9,
+2021,with a par value of RMB1 per share, resulting in an
+2,728,143
+2,911,143
+二零二一年
+RMB'000
+人民幣千元
+2020
+a.
+2021
+2,911,142,855股
+已註冊、發行及已繳足:
+ordinary shares of RMB1 each
+2,911,142,855 (2020: 2,728,142,855)
+Authorised, issued and fully paid:
+股份
+股本
+40.
+Shares
+40. SHARE CAPITAL
+(二零二零年:2,728,142,855股)
+每股面值人民幣1元的普通股
+Overview
+Equity-settled share-based payments are as follows:
+41.
+二零二零年
+RMB'000
+人民幣千元
+基礎的支付的總成本
+payments in the period
+74,298
+116,389
+期內以權益結算以股份為
+Total costs of equity-settled share-based
+支付纍計餘額
+capital reserves
+以股份為基礎的
+share-based payments credited to
+74,298
+190,687
+計入資本儲備的以權益結算
+人民幣千元
+RMB'000
+二零二零年
+2020
+2021
+以權益結算以股份為基礎的支付如
+下:
+概述
+a.
+以股份為基礎的支付
+二零二一年十二月三十一日
+31 December 2021
+二零二零年
+RMB'000
+人民幣���元
+Notes to Financial Statements
+taxable profits will be available against which the above
+items can be utilised:
+of the following items as it is not considered probable that
+Deferred tax assets have not been recognised in respect
+Deferred tax liabilities (continued)
+DEFERRED TAX (CONTINUED)
+39.
+財務報表附註
+Notes to Financial Statements
+257
+Annual Report 2021
+二零二一年年報
+本集團於中國大陸產生的累計稅項虧損為人
+民幣5,687,896,000元(二零二零年:人民幣
+3,696,763,000元)可於一至十年內抵銷未來
+應課稅溢利。本集團於其他司法權區產生的
+稅項虧損為人民幣137,049,000元(二零二零
+年:人民幣165,430,000元)可於一至八年內
+抵銷未來應課稅溢利。由於此等虧損乃來自
+仍在虧損的附屬公司,且認為不大可能產生
+應課稅溢利以沖銷可動用稅項虧損,故並未
+就此確認遞延稅項資產。
+本集團在中國大陸確認遞延所得稅資產相關
+的稅務虧損人民幣3,608,895,000元(二零二
+零年:人民幣1,130,562,000元)可於一至十
+年內抵銷未來應課稅溢利。
+財務報表附註
+The Group has accumulated tax losses arising in Mainland
+China of RMB5,687,896,000 (2020: RMB3,696,763,000)
+that will expire in one to ten years for offsetting against
+future taxable profits. The Group has tax losses of
+RMB137,049,000 (2020:RMB165,430,000) arising from
+other jurisdictions that will expire in one to eight years
+for offsetting against future taxable profits. Deferred tax
+assets have not been recognised in respect of these losses
+as they have arisen in subsidiaries that have been loss-
+making for some time and it is not considered probable
+The Group has recognised deferred tax assets related to
+tax losses arising in Mainland China of RMB3,608,895,000
+(2020:RMB1,130,562,000) that will expire in one to ten
+years for offsetting against future taxable profits.
+393,150
+609,566
+於合併財務狀況表中確認的
+遞延稅項負債淨額
+Net deferred tax liabilities recognised in the
+consolidated statement of financial position
+1,768,975
+1,913,316
+於合併財務狀況表中確認的
+遞延稅項資產淨額
+Net deferred tax assets recognised in the
+consolidated statement of financial position
+31 December 2021
+二零二一年十二月三十一日
+39.
+that taxable profits will be available against which the tax
+losses can be utilised.
+遞延稅項負債(續)
+比亞迪股份有限公司
+遞延稅項(續)
+258
+BYD Company Limited
+於二零二一年十二月三十一日,並無就預
+計若干附屬公司於可預見未來將匯出的盈
+利確認遞延稅項負債(二零二零年:無)。
+根據管理層對可得流動資金(內地除外)估
+計在內的多項因素,由於本集團預期該等
+盈利將由中國附屬公司保留且不會於可預見
+未來匯給境外投資者,故並無就盈利約人民
+幣22,644,294,000元(二零二零年:人民幣
+21,008,792,000元)計提預扣稅。
+根據中國企業所得稅法,就於中國內地成立
+的外資企業向海外投資者宣派的股息徵收
+10%的預扣稅。該規定於二零零八年一月一
+日起生效,適用於二零零七年十二月三十一
+日後錄得的盈利。倘若中國大陸與外國投資
+者的司法權區簽訂稅務協定,則可能採用較
+低預扣稅稅率。因此,本集團須就於中國內
+地成立的附屬公司有關自二零零八年一月一
+日起產生的盈利派發的股息繳納預扣稅。
+several factors, including management's estimation of
+liquid funds available other than in the Mainland.
+Pursuant to the PRC Corporate Income Tax Law, a 10%
+withholding tax is levied on dividends declared to foreign
+investors from foreign investment enterprises established
+in Mainland China. The requirement is effective from 1
+January 2008 and applies to earnings after 31 December
+2007. A lower withholding tax rate may be applied if there
+is a tax treaty between Mainland China and the jurisdiction
+of the foreign investors. The Group is therefore liable
+for withholding taxes on dividends distributed by those
+subsidiaries established in Mainland China in respect of
+earnings generated from 1 January 2008.
+10,840,300
+13,739,968
+6,978,107
+7,915,023
+As at 31 December 2021, there were no deferred tax
+liabilities recognised on earnings anticipated to be
+remitted by certain subsidiaries in the foreseeable future
+(2020:Nil).No withholding tax has been provided for
+the earnings of approximately RMB22,644,294,000(2020:
+RMB21,008,792,000) as these earnings are expected to
+be retained by the PRC subsidiaries and not to be remitted
+to a foreign investor in the foreseeable future based on
+5,824,945
+RMB'000
+人民幣千元
+2020
+二零二零年
+因可供動用上述項目的應課稅溢利被視為不
+大可能出現,下列項目並未確認為遞延稅項
+資產:
+2021
+二零二一年
+RMB'000
+人民幣千元
+可扣稅暫時性差異
+Deductible temporary differences
+稅項虧損
+3,862,193
+Tax losses
+be adjusted to the then base rate plus initial spread
+and 300 basis points from the 6th year and remains
+unchanged from the 6th year to the 10th year for
+which interest is accruable. The coupon interest rate
+is reset every 5 years.
+the redemption rights, the coupon interest rate will
+and the redemption process shall be completed by
+the Shanghai Clearing House as the agent. For the
+current medium-term notes, the coupon interest rate
+of the first 5 years for which interest is accruable
+is 5.1% per annum. If the issuer does not exercise
+through media one month before the redemption
+In 2016,the Company issued medium term notes
+at par of RMB200 million and RMB400 million on 24
+February 2016 and 26 February 2016, respectively,
+with a total amount of RMB600 million (RMB595.8
+million after deducting listing expenses). The current
+medium-term notes have a term of 5+N years. On
+or after the fifth interest payment date, the issuer
+has the right to redeem the current medium-term
+notes at par plus accrued interest (including any
+deferred interest payments). If the issuer decides
+to exercise the redemption rights, the issuer shall
+publish the Announcement of Early Redemption
+(a)
+31 December 2021
+43.
+二零二一年十二月三十一日
+財務報表附註
+264
+43.
+比亞迪股份有限公司
+Notes to Financial Statements
+PERPETUAL LOANS
+永續債
+31 December 2021
+二零二一年十二月三十一日
+二零一六年,本公司於二零一六年二
+月二十四日及二零一六年二月二十六
+日分別按面值發行金額為人民幣200
+百萬元和人民幣400百萬元的中期票
+據,合計人民幣600百萬元,扣除發
+行開支後為人民幣595.8百萬元。本
+期中期票據期限為5+年。於中期票
+據第五個和其後每個付息日,發行人
+有權按面值加應付利息(包括任何遞
+延利息支付)贖回本期中期票據。如
+發行人決定行使贖回權,則於贖回日
+前一個月,由發行人媒體上刊登《提
+前贖回公告》,並由上海清算所代理
+完成贖回工作。本期中期票據前5個
+計息年度的票面利率為5.1%。如果
+發行人不行使贖回權,則從第6個計
+息年度開始票面利率調整為當期基
+準利率加上初始利差再加上300個基
+點,在第6個計息年度至第10個計息
+年度內保持不變。每5年重置一次票
+面利率。
+The issuer shall not defer the interest payment of
+the interest accrual period and all the interest and
+the underlying yields that were deferred according
+to the investment agreement and the contractual
+agreement if any of the following occurs within 12
+months before the interest payment date:
+Unless the mandatory interest payment event
+happens, before each of the interest payment
+date of medium-term notes, the issuer can choose
+to defer the current interest and all the deferred
+interest to be paid at the next interest payment
+date, which is not subject to any restrictions on
+the number of deferred interest payments. The
+foregoing deferred interest payment does not
+constitute the issuer's default to pay the interest in
+full. In the event that the issuer decides to defer
+the interest payments, the issuer and the related.
+agency shall disclose such arrangement in an
+announcement of deferred interest payments five
+days before the interest payment date.
+BYD Company Limited
+(續)
+(a)
+永續債(續)
+43.
+財務報表附註
+Notes to Financial Statements
+265
+Annual Report 2021
+二零二一年年報
+(continued)
+(a)
+PERPETUAL LOANS (CONTINUED)
+43.
+(a)
+根據企業的有關法律及法規,本集團於中國
+註冊的實體的部分溢利已轉撥至有限定用途
+的法定盈餘公積金。當法定盈餘公積金的結
+餘達各實體股本的50%,則公司可選擇是
+否繼續作出任何撥款。法定盈餘公積金可用
+於抵銷以往年度的虧損或增加資本。然而,
+增加後,法定盈餘公積金的結餘須維持至少
+25%股本。
+於二零零九年十月二日,被告對富士
+康國際控股有限公司及其若干聯屬公
+司利用不合法手段干涉本公司及其若
+干附屬公司的經營、共謀行為、書面
+及口頭誹謗,導致經濟損失的行為提
+起反訴。
+enterprises, a portion of the profits of the Group's entities
+which are registered in the PRC has been transferred to
+the statutory surplus reserve fund which is restricted to
+use. When the balance of the statutory surplus reserve
+以股份為基礎的支付(續)
+41.
+31 December 2021
+二零二一年十二月三十一日
+Share option incentive scheme (continued)
+Adjustment on BYD Semiconductor 2020 Share
+Option Incentive Scheme
+b.
+SHARE-BASED PAYMENT (CONTINUED)
+41.
+Notes to Financial Statements
+財務報表附註
+263
+Annual Report 2021
+二零二一年年報
+波動率是基於歷史波動率反映出趨勢
+的假設,因此並不一定是實際的結
+果。對於公允價值,並無考慮授予的
+購股權的其他特徵。
+2.02%
+1.81%
+The borrower declares dividend to the
+holders of ordinary shares; or
+1.60%
+b.
+fund reaches 50% of the respective entity's share capital,
+any further appropriation is optional. The statutory surplus
+reserve fund can be utilised to offset prior year's losses
+or to increase share capital. However, the balance of the
+statutory surplus reserve fund must be maintained at least
+25% of the share capital after increase.
+購股權激勵計劃(續)
+42.
+Pursuant to the relevant laws and regulations for business
+本集團的儲備金額及有關金額於本年度及
+過往年度的變動乃呈列於財務報表第106至
+107頁的合併權益變動表內。
+二零二零年十二月三日,比亞迪半導
+體第一屆董事會決議通過了《關於調
+整公司二零二零年股權期權激勵計劃
+和股權期權激勵計劃實施考核管理辦
+法的議案》,該議案對比亞迪半導體
+有限實施的首次股權激勵計劃進行了
+調整。該議案根據公司股份制改制
+的股數變動比例,將授予員工的股權
+期權數量由“30,019,760份"變更為
+“33,088,235股”,並將期權的行權價
+格由“人民幣5.00元/每1元出資”變
+更為“人民幣4.54元/每股”。
+。
+激勵計畫約定如公司改制為股份公
+司,將對期權數量及行權價格進行調
+整
+儲備
+42.
+consolidated statement of changes in equity on pages 106
+to 107 of the financial statements.
+The amounts of the Group's reserves and the movements
+therein for the current and prior years are presented in the
+RESERVES
+of shares converted based on the Company's
+conversion into a joint stock company.
+according to the movement in the percentage
+and the exercise price of options from "contribution
+of RMB5.00/per yuan” to “RMB4.54/per share”
+On 3 December 2020, the first session of the board
+of directors of BYD Semiconductor passed the
+Resolution in relation to the Company's Adjustment
+on the 2020 Share Option Incentive Scheme and
+the Implementation, Assessment and Management
+Measures of the Share Option Incentive Scheme (<
+於調整公司2020年股權期權激勵計劃和股權期權激勵
+計劃實施考核管理辦法的議案》),which adjusted the
+first option incentive scheme implemented by BYD
+Semiconductor Co., Ltd. This resolution changed the
+number of share options granted to employees from
+“30,019,760_share options" to “33,088,235 shares”
+The Scheme clarifies that BYD Semiconductor will
+adjust the the number of the share options granted
+and the exercise price in case BYD Semicondutor
+reforms into a joint stock company.
+二零二零年比亞迪半導體股票期權激
+勵計劃調整
+The borrower reduces registered capital.
+268
+倘付息日前12個月內,發生以下事件
+之一,發行人不得遞延該計息週期利
+息以及按照《投資協議》及合同約定
+已經遞延的所有利息及其孳息:
+Notes to Financial Statements
+比亞迪股份有限公司
+57.88%
+BYD Company Limited
+此等永續債並無特定到期日。本公司
+有權遞延利息或贖回票據。本公司並
+無合同責任向其他人士交付現金或其
+他金融資產。故永續債確認為權益。
+二零二一年已付永續債利息為人民幣
+61,600,000元(二零二零年:人民幣
+222,987,000).
+借款人減少註冊資本
+財務報表附註
+借款人向普通股持有人宣派股
+息;或
+除非發生強制付息事件,發行人在中
+期票據每個利息支付日前可以自行選
+擇將當期利息和所有遞延利息推遲至
+下一利息支付日支付,且不受任何遞
+延利息支付次數的限制。前述遞延利
+息支付不應視為發行人未按照本合同
+全數支付利息的違約事件。倘發行人
+決定遞延支付利息,發行人及相關中
+介機構應在付息日前五日於遞延利息
+支付公告內披露該安排。
+(續)
+(b)
+永續債(續)
+43.
+These perpetual loans do not have specific
+maturities. The Company has the right to defer
+interest or to redeem the notes. The Company does
+I not have the contractual obligation to deliver cash
+or other financial assets to other parties. Therefore,
+the perpetual loans are recognised as an equity.
+The interest paid on the perpetual loans in 2021 was
+RMB61,600,000 (2020: RMB222,987,000).
+倘付息日前12個月內,發生以下事件
+之一,發行人不得遞延該計息週期利
+息以及按照《投資協議》及合同約定
+已經遞延的所有利息及其孳息:
+31 December 2021
+二零二一年十二月三十一日
+44.
+富士康訴訟案件
+said activities.
+defamation, and the economic loss as a result of the
+On 2 October 2009, the Defendants instituted
+a counter-action against Foxconn International
+Holdings Limited and certain of its affiliates for
+their intervention, by means of illegal measures, in
+the operations involving the Company and certain
+of its subsidiaries, collusions, written and verbal
+(the “Defendants") for using confidential information
+alleged to have been obtained improperly from
+the Plaintiffs. The Plaintiffs discontinued the June
+2007 Action on 5 October 2007 without any liability
+to the Defendants. On the same day, the Plaintiffs
+initiated a new set of legal proceedings in the
+Court (the “October 2007 Action"). The Defendants
+named in the October 2007 Action are the same as
+the Defendants in the June 2007 Action, and the
+claims made by the Plaintiffs in the October 2007
+Action are based on the same facts and grounds
+in the June 2007 Action. The remedies sought by
+the Plaintiffs in the October 2007 Action include an
+injunction restraining the Defendants from using
+the alleged confidential information, an order for
+the disgorgement of profit made by the Defendants
+through the use of the confidential information,
+damages based on the loss suffered by the Plaintiffs
+and exemplary damages. The total damages sought
+by the Plaintiffs in the October 2007 Action have not
+been quantified.
+Holdings Limited (the “Plaintiffs") against the
+Company and certain subsidiaries of the Group
+On 11 June 2007, a Hong Kong High Court action
+(the “June 2007 Action") was commenced by a
+subsidiary and an affiliate of Foxconn International
+訴訟
+(a)
+或有負債
+44.
+Action against Foxconn
+Litigation
+(a)
+CONTINGENT LIABILITIES
+The borrower reduces registered capital
+The borrower declares dividend to the
+holders of ordinary shares; or
+The issuer shall not defer the interest payment of
+the interest accrual period and all the interest and
+the underlying yields that were deferred according
+to the investment agreement and the contractual
+agreement if any of the following occurs within 12
+months before the interest payment date:
+an announcement of deferred interest payments five
+days before the interest payment date.
+media at least 30 trading days prior to the interest
+payment date in the exercise year of the option to
+renew the term.
+not limited by the number of times it may exercise
+its option to renew the term, but it shall publish an
+announcement of exercise of the option through
+The Company issued renewable bonds on 21 June
+2019 with a total principal amount of RMB500
+million. The loan will have a term of 2+Nyears. On
+or after the second interest payment date, the issuer
+Ishall have the option to extend the maturity of the
+bonds for one additional cycle (i.e., two years) or
+to pay in full at the end of that cycle. The issuer is
+(b)
+PERPETUAL LOANS (CONTINUED)
+43.
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+266
+BYD Company Limited
+借款人減少註冊資本。
+借款人向普通股持有人宣派股
+息;或
+43.
+除非發生強制付息事件,發行人在中
+期票據每個利息支付日前可以自行選
+擇將當期利息和所有遞延利息推遲至
+下一利息支付日支付,且不受任何遞
+延利息支付次數的限制。前述遞延利
+息支付不應視為發行人未全數支付利
+息的違約事件。倘發行人決定遞延支
+付利息,發行人及相關中介機構應在
+付息日前五日於遞延利息支付公告內
+披露該安排。
+永續債(續)
+本公司於二零一九年六月二十一日發
+行本金總額為人民幣500百萬元的可
+續債券。貸款期限為2+N年。於第二
+次付息日或之後,發行人有權選擇延
+長債券到期日至另一個週期(如兩年)
+或於當時週期結束悉數償還。發行人
+不受時間所限制,其可行使其選擇人
+重續年期,惟其將於由發行人至少於
+選擇重續期限當年的付息日前30個
+交易日通過媒體上刊登公告行使選擇
+權。
+to be paid at the next interest payment date, which
+is not subject to any restrictions on the number of
+deferred interest payments. The foregoing deferred
+interest payment does not constitute the issuer's
+default to pay the interest in full according to the
+contract. In the event that the issuer decides to
+defer the interest payments, the issuer and the
+related agency shall disclose such arrangement in
+Unless the mandatory interest payment event
+happens, before each of the interest payment dates
+of medium-term notes, the issuer can choose to
+have the current interest and all the deferred interest
+(continued)
+(b)
+PERPETUAL LOANS (CONTINUED)
+43.
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+267
+Annual Report 2021
+二零二一年年報
+倘稅務政策或會計標準有任何變動,
+發行人將有權於有關法律法規變動、
+司法權區對相關法例法規詮釋或會計
+政策變動正式實行當年年末行使贖回
+權。倘發行人決定行使贖回權,發
+行人應於可贖回日期前20個交易日
+(惟倘會計政策變更施行日期起至年
+末少於20個交易日,發行人須及時
+刊發公告)刊登公告。贖回計劃一旦
+公佈則不得撤銷。除上述兩種情況,
+發行人無權或義務贖回即期債券。可
+續債券而言,利息於前兩年按票面利
+率6.20%每年計息。如果發行人不行
+使贖回權,則從第3個計息年度開始
+票面利率調整為當期基準利率加上初
+始利差再加上300個基點,在第3個
+計息年度至第4個計息年度內保持不
+變。每2年重置一次票面利率。
+policies is officially implemented. If the issuer
+decides to exercise the redemption rights, an
+announcement shall be published 20 trading days
+before the date available for redemption (except
+that the period from the implementation date of the
+change of accounting policies to the year end is
+less than 20 trading days, in which case the issuer
+shall make a timely announcement). The redemption
+plan is irrevocable once announced. Except for
+the above two cases, the issuer has no right or
+obligation to redeem the current bond. For the
+current renewable bonds, the coupon interest rate
+of the first 2 years for which interest is accruable is
+6.20% per annum. If the issuer does not exercise
+the redemption rights, the coupon interest rate will
+be adjusted to the then base rate plus initial spread
+and 300 basis points from the 3rd year and remains
+unchanged from the 3rd year to the 4th year for
+which interest is accruable. The coupon interest rate
+is reset every 2 years.
+accounting standards, the issuer shall have the
+right to exercise the right of redemption at the end
+of the year in which the change of such laws and
+regulations, the judicial interpretation of relevant
+laws and regulations or the change of accounting
+In the case of any change of tax policies or
+(b)
+51.99%
+二零二四年五月十二日至
+other features of the granted share options were not
+considered.
+淨利潤。
+(2)
+收入;
+(1)
+Net Profit.
+(2)
+Annual Report 2021
+二零二一年年報
+購股權行使的表現指標包括:
+比亞迪半導體股份有限公司(「比亞
+迪半導體」)2020股權激勵計劃(「計
+劃」)(續)
+(1) Revenue;
+The performance indicators for the exercise of the
+share options include:
+performance conditions. The exercise price shall
+be_RMB5.00 per share. The share options will not
+be exercisable when participants fail to fulfil BYD
+Semiconductor's performance as the conditions of
+exercise or those currently not exercised after the
+end of the exercise period shall become null and
+void and be repurchased without consideration and
+cancelled by BYD Semiconductor.
+exercise rights under the prerequisite of meeting
+the first, second, and third exercise periods,30%,
+30%,and 40% of the share options are entitled to
+本次期權激勵計劃預計授予的股權期
+權分三次行權,對應的歸屬期分別
+為自授予日起24個月、36個月、48
+個月。授予的股票期權於授予日開
+始,在之後的三個行權期分次行權。
+第一、第二和第三個行權期分別有
+30%、30%、40%的期權在滿足業績
+條件前提下獲得可行權的權利。行使
+價為每股人民幣5.00元。當參與者未
+能實現作為行使條件的比亞迪半導體
+的表現時,將無法行使購股權,或行
+使期結束後當前未行使的購股權將作
+廢,並應由比亞迪半導體無償購回及
+做作廢處理。
+261
+Notes to Financial Statements
+財務報表附註
+Percentage
+Exercise period
+授予的購股權行使的條件:
+比亞迪半導體股份有限公司(「比亞
+迪半導體」)2020股權激勵計劃(「計
+劃」)(續)
+The conditions for the exercise of the granted share
+options:
+BYD Semiconductor Co., Ltd (“BYD Semiconductor")
+2020 Share Option Incentive Scheme ("Scheme")
+(continued)
+購股權激勵計劃(續)
+b.
+Share option incentive scheme (continued)
+b.
+以股份為基礎的支付(續)
+41.
+SHARE-BASED PAYMENT (CONTINUED)
+41.
+31 December 2021
+二零二一年十二月三十一日
+The share options to be granted under the share
+option incentive scheme are exercisable in three
+stages, which will correspond to a vesting period
+of 24 months, 36 months and 48 months beginning
+on the grant date. The granted share options
+can be exercised in stages in the following three
+exercise periods beginning on the grant date. In
+of options
+購股權激勵計劃 (續)
+Share option incentive scheme (continued)
+BYD Semiconductor Co., Ltd("BYD Semiconductor")
+2020 Share Option Incentive Scheme("Scheme”)
+(continued)
+BYD Semiconductor Co., Ltd("BYD Semiconductor")
+2020 Share Option Incentive Scheme("Scheme")
+購股權激勵計劃
+b.
+以股份為基礎的支付(續)
+41.
+31 December 2021
+二零二一年十二月三十一日
+The "Resolution concerning equity incentive scheme
+財務報表附註
+259
+Annual Report 2021
+二零二一年年報
+Share option incentive scheme
+b.
+SHARE-BASED PAYMENT (CONTINUED)
+41.
+Notes to Financial Statements
+of the wholly-owned subsidiary involving related-
+party transactions", was approved at the Thirty-
+sixth Meeting of the Sixth Session of the Board of
+Directors of BYD Semiconductor on 14 April 2020.
+Pursuant to the Scheme, BYD Semiconductor
+b.
+以股份為基礎的支付(續)
+41.
+SHARE-BASED PAYMENT (CONTINUED)
+41.
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+260
+BYD Company Limited
+「關於全���子公司股權激勵計劃涉及
+關聯交易的議案」已於二零二零年四
+月十四日第六屆董事會第三十六次會
+議上獲比亞迪半導體董事會批准。根
+據該計劃,比亞迪半導體擬向36名
+計劃參與者授予30,019,760.00份購
+股權。股份激勵計劃的計劃參與者包
+括比亞迪半導體的董事和高级管理人
+員以及對比亞迪半導體的業績及持續
+發展整體有直接影響或貢獻的比亞迪
+半導體的重要員工,不包括獨立董事
+和監事。茲提述本公司日期為二零二
+一年五月十一日的公告及日期為二零
+二一年五月三十一日的通函(「該通
+函」),內容有關(其中包括)建議採
+納子公司股權期權計劃。本公司股東
+於本公司於二零二一年六月十六日舉
+行的臨時股東大會上批准採納子公司
+股權期權計劃,且子公司股權期權計
+劃於同日期成為無條件。
+比亞迪半導體股份有限公司(「比亞
+迪半導體」)2020股權激勵計劃(「計
+劃」)
+proposed to grant 30,019,760.00 share options to
+36 scheme participants. The scheme participants of
+the Share Incentive Scheme were the directors and
+senior management of BYD Semiconductor and key
+staff of BYD Semiconductor who have direct impacts
+or contributions to BYD Semiconductor's business
+results and ongoing development as a whole,
+excluding independent directors and supervisors.
+References are made to the announcement dated 11
+May 2021 and circular (the “Circular") dated 31 May
+2021 of the Company, in relation to, among others,
+the proposed adoption of the Subsidiary Share
+Option Scheme. The adoption of the Subsidiary
+Share Option Scheme was approved by the
+shareholders of the Company at the extraordinary
+general meeting of the Company held on 16 June
+2021 and the Subsidiary Share Option Scheme
+became unconditional on the same day.
+b.
+52.80%
+exercisable
+Conditions for exercise
+比亞迪半導體股份有限公司(「比亞
+迪半導體」)2020股權激勵計劃(「計
+劃」)(續)
+購股權激勵計劃(續)
+b.
+Share option incentive scheme (continued)
+BYD Semiconductor Co., Ltd (“BYD Semiconductor")
+2020_Share Option Incentive Scheme (“Scheme")
+(continued)
+b.
+以股份為基礎的支付(續)
+The fair value of the share options to be granted
+amounted to RMB337,098,000. The fair value of the
+equity-settled share options to be granted on the
+date of grant was estimated using a binomial model,
+taking into account the terms and conditions upon
+which the options were granted. The following table
+lists the inputs to the model used:
+41.
+41.
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+SHARE-BASED PAYMENT (CONTINUED)
+預計授予的購股權的公允價值為人民
+幣337,098,000元。預計授予的以權
+益結算的購股權於授予日的公允價值
+採用二項式模型,結合授予購股權的
+條款和條件,作出估計。下表列示了
+所用模型的輸入:
+Exercise period
+Volatility
+be the actual result. In respect of the fair value,
+Volatility is an assumption based on the trend
+reflected by historical volatility, and hence may not
+無風險率
+波動率
+第三批
+第二批
+第一批
+行使期
+batch
+batch
+batch
+Third
+Second
+First
+Risk-free interest rate
+262
+Duration
+BYD Company Limited
+the third exercise period over the previous
+year is not less than 20%
+From 12 May 2023 to
+11 May 2024
+(“Second Period")
+30%
+Second exercise period
+二零二二年五月十二日至
+二零二三年五月十一日
+From 12 May 2022 to
+11 May 2023
+第二個行使期(「第二期」)
+30%
+購股權比例
+可行使
+第一個行使期(「第一期」)
+(“First Period”)
+First exercise period
+行使期
+期間
+第三個行權期可行權日前一會計年度的營業收
+入和淨利潤較上一年度的增長率不低於20%
+二零二三年五月十二日至
+二零二四年五月十一日
+40%
+the growth rate of revenue and net profit of
+the fiscal year before the exercise date of
+第二個行權期可行權日前一會計年度的營業收
+入和淨利潤較上一年度的增長率不低於20%
+previous year is not less than 20%
+of the second exercise period over the
+of the fiscal year before the exercise date
+the growth rate of revenue and net profit
+Third exercise period
+第一個行權期可行權日前一會計年度的營業收
+入和淨利潤較上一年度的增長率不低於20%
+the fiscal year before the exercise date of
+the growth rate of revenue and net profit of
+行使條件
+二零二五年五月十二日
+第三個行使期(「第三期」)
+From 12 May 2024 to
+12 May 2025
+(“Third Period”)
+the first exercise period over the previous
+year is not less than 20%
+於二零零七年六月十一日,富士康國
+際控股有限公司旗下一間下屬附屬公
+司及一間聯屬公司(「原告」)向香港
+高等法院展開訴訟(「二零零七年六
+月訴訟」),指控本公司及本集團若干
+附屬公司(「被告」)使用指稱自原告
+處非法獲得的機密資料。原告已於二
+零零七年十月五日停止二零零七年六
+月訴訟、被告並無承擔任何責任。同
+日,原告向法院提起新一輪的法律程
+序(「二零零七年十月訴訟」)。二零零
+七年十月訴訟的被告與二零零七年六
+月訴訟的被告相同,且原告在二零零
+七年十月訴訟中提出的申索均基於二
+零零七年六月訴訟中的相同事實及理
+由。原告在二零零七年十月訴訟中提
+出的補救方法包括強令禁止被告使用
+有關機密資料、強令被告交出因使用
+機密資料所獲得的利潤以及賠償原告
+遭受的損失及支付懲罰性賠償金。原
+告在二零零七年十月訴訟中主張的全
+部賠償金數額尚未確定。
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+672,352
+914,414
+Purchases of products and service
+購買產品及服務
+3,692,335
+2,254,046
+Sales of products and service to Union Brother
+Technology Co., Ltd. (“UBTECH”)
+向深圳市優必選股份科技有限公司
+(「優必選」)出售產品及服務
+(vi)
+408
+536
+Sales of products and service to Xi'an Northern
+234,729
+向西安北方秦川集團有限公司
+63
+63
+Qinchuan Company Ltd. ("Northern Qinchuan")
+Sales of products and service to Shenzhen
+UniFortune Supply Chain Service Co., Ltd.
+(“UniFortune”)
+(「北方秦川」)出售產品及服務
+向深圳市聯合利豐供應鏈管理有限公司
+(「聯合利豐」)出售產品及服務
+(viii)
+882
+Sales of products and service to Youngy
+Investment Holding Group Co., Ltd.
+向融捷投資控股集團有限公司
+(ix)
+☐ 12
+1,319
+(vii)
+952,183
+10,680
+2,487
+47.
+RELATED PARTY TRANSACTIONS
+47.
+關聯方交易
+(a)
+In addition to the transactions detailed elsewhere
+in these financial statements, the Group had the
+(a)
+following transactions with related parties during the
+year:
+除本財務報表其他地方所詳述的交易
+外,年內本集團與關聯方亦進行下列
+交易:
+2021
+Notes
+附註
+二零二一年
+RMB'000
+人民幣千元
+2020
+二零二零年
+RMB'000
+人民幣千元
+Joint ventures and associates:
+Sales of products
+Sales of machinery and equipment
+Service income
+Rental expense
+合營公司及聯營公司:
+出售產品
+出售機器及設備
+服務收入
+租金開支
+3,477,440
+2,135,448
+(「融捷控股」)出售產品及服務
+(“Youngy Holding”)
+Sales of products and service to Onyx
+向廣州文石信息科技有限公司
+Shenzhen Baiguoyuan Industry (Group)
+Co., Ltd. (“Baiguoyuan")
+向深圳百果園實業(集團)股份
+有限公司(「百果園」)購買
+產品及服務
+(xiii)
+365
+Purchase of products from Sichuan
+向四川長和華鋰科技有限公司
+(xiv)
+176,318
+Changhehua lithium Technology Co., Ltd.
+(「長和華鋰科技」)購買產品
+(“Changhehua lithium")
+16,347
+1,877
+Annual Report 2021
+二零二一年年報
+275
+Notes to Financial Statements
+財務報表附註
+47. RELATED PARTY TRANSACTIONS 47. 關聯方交易 (續)
+(CONTINUED)
+(a) (continued)
+Notes:
+(a)
+(續)
+附註:
+(i)
+The sales of products to joint ventures and
+associates were made according to the
+published prices offered to other customers of
+the Group.
+向深圳經石科技股份有限公司
+(「經石科技」)購買產品及服務
+二零二一年十二月三十一日
+向滄州明珠塑料股份有限公司
+(「明珠塑料」)購買產品及服務
+Shenzhen Jingshi Technology Co., Ltd.
+(“Jingshi Tech")
+(x)
+4,286
+1,970
+International Inc. Co., Ltd.
+(文石信息)出售產品及服務
+("Onyx International Inc.")
+Sales of products to Shenzhen Zhengxuan
+Qianzhan Venture Capital
+向深圳市正軒前瞻創業投資
+(「正軒前瞻」)出售產品
+(xi)
+5
+2
+(“Zhengxuan Qianzhan")
+Purchases of products and service from
+向西安北方秦川集團有限公司
+(vii)
+43
+Xi'an Northern Qinchuan Company Ltd.
+(「北方秦川」)購買產品及服務
+(“Northern Qinchuan")
+Purchases of products from Beijing Easpring
+Material Technology Co., Ltd.
+向北京當升材料科技股份有限公司
+(「當升科技」)購買產品
+(xii)
+198,342
+166,491
+(“Easpring Technology")
+Purchases of products and service from
+Cangzhou Mingzhu Plastic Co., Ltd.
+(“Mingzhu Plastics")
+Purchase of products and service from
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+Interest expense
+利息開支
+3,067,379
+56,422
+Interest capitalised
+資本化利息
+52,788
+Covid-19-related rent concessions from lessors
+Foreign exchange movement
+新冠肺炎相關的出租人租金優惠
+外匯波動
+(3,065)
+(89,306)
+At 31 December 2020
+於二零二零年十二月三十一日
+51,270,597
+1,011,793
+(c)
+Total cash outflow for leases
+(c)
+租賃的現金流出總額
+The total cash outflow for leases included in the
+consolidated statement of cash flows is as follows:
+計入合併現金流量表之租賃���金流出
+總額如下:
+2021
+2020
+二零二一年
+RMB'000
+人民幣千元
+二零二零年
+344,593
+RMB'000
+新租賃
+(153,877)
+31 December 2021
+二零二一年十二月三十一日
+45.
+NOTES TO THE CONSOLIDATED STATEMENT
+OF CASH FLOWS (CONTINUED)
+(b)
+45. 合併現金流量表附註 (續)
+Changes in liabilities arising from financing
+activities (continued)
+(b)
+融資活動所產生的負債變動(續)
+2020
+二零二零年
+Interest-
+bearing bank
+and other
+borrowings
+計息銀行及
+其他借款
+Lease
+liabilities
+租賃負債
+At 1 January 2020
+於二零二零年一月一日
+75,978,345
+767,720
+Changes from financing cash flows
+融資現金流量變動
+(27,738,609)
+New leases
+(i)
+人民幣千元
+經營活動內
+樓宇
+廠房及機器
+4,560,087
+673,138
+Capital contribution in respect of
+與投資有關的注資
+16,534,412
+892,582
+3,051,539
+112,757
+investments
+21,987,081
+3,837,434
+(b)
+In addition, the Group's share of joint ventures'own
+capital commitments, which are not included in the
+above, is as follows:
+(b)
+此外,本集團分佔合營公司本身的資
+本承擔(未計入上表)如下:
+Capital contribution payable to joint ventures 向合營公司出資
+2021
+二零二一年
+RMB'000
+人民幣千元
+2020
+二零二零年
+RMB'000
+人民幣千元
+1,190,271
+450,775
+BYD Company Limited
+274
+比亞迪股份有限公司
+Plant and machinery
+Within operating activities
+Contracted, but not provided for:
+Buildings
+人民幣千元
+Within investing activities
+投資活動內
+(1,237,105) (1,270,066)
+(3,273,197)
+Within financing activities
+融資活動內
+(239,359)
+(270,762)
+(153,877)
+Annual Report 2021
+二零二一年年報
+273
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+46.
+COMMITMENTS
+46.
+承擔
+(a)
+The Group had the following capital commitments at
+the end of the reporting period:
+(a)
+本集團於報告期末擁有下列資本承
+擔:
+2021
+2020
+二零二一年
+RMB'000
+人民幣千元
+二零二零年
+RMB'000
+已訂約但未撥備:
+向合營公司及聯營公司出售產
+品乃根據向本集團其他客戶提
+出的公佈價格進行。
+Purchases of products and service from
+The sales of machinery and equipment to
+the joint ventures and associates were made
+according to the published prices offered by
+the Group to other customers.
+Guarantees given to banks in connection
+with facilities granted to subsidiaries by
+the Company
+As at 31 December 2021, the banking facilities
+granted to subsidiaries and joint ventures subject
+to guarantees given to banks by the Company
+were utilised to the extent of approximately
+RMB26,780,940,000 (2020:RMB33,832,287,300)
+_and_RMB3,706,128,000 (2020: RMB5,539,327,000),
+respectively.
+於二零二一年十二月三十一日,本公
+司就向銀行作出擔保而授予附屬公
+司及合營公司的銀行融資中,分別
+約人民幣26,780,940,000元(二零二
+零年:人民幣33,832,287,300元)及
+人民幣3,706,128,000元(二零二零
+年:人民幣5,539,327,000)已獲動
+用。
+BYD Company Limited
+270
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+44.
+CONTINGENT LIABILITIES (CONTINUED)
+(c)
+Repurchase obligation
+44.
+或有負債(續)
+(c)
+回購義務
+The Group entered into tri-lateral finance
+cooperation contracts (the “Cooperation Contracts”)
+with certain customers and third parties or related
+financial institutions (“Financial Institutions").
+Pursuant to the arrangement under the Cooperation
+Contracts, the Company bears repurchase
+obligations to Financial Institutions that in the event
+of customer default or other specific conditions, the
+Company inherits all the creditor's rights and related
+interests. At the same time, the Company is required
+to make payments to Financial Institutions for the
+outstanding payments due from the customers
+and has the right to take recovery measures by
+way of sale of new energy vehicles and other
+relief measures to pay the remaining arrears of
+the customers to the Financial Institutions. The
+Company reserves the right to pursue the remaining
+creditor's rights. Management believes that the
+repossessed vehicles will be able to be sold for
+proceeds that are not significantly different from the
+repurchase payments. As at 31 December 2021,
+the Group's maximum exposure to these obligations
+was_RMB6,409,637,000 (2020: RMB8,644,159,000).
+For the year ended 31 December 2021, there was
+no default of payments from customers which
+required the Group to make payments to Financial
+Institutions.
+(ii)
+本集團與若干客戶及第三方或有關融
+資機構(「融資機構」)簽訂三方融資
+合作合同(「合作合同」)。根據合作合
+同的安排,本公司向該等融資機構承
+擔回購義務,若客戶違約或合同約定
+的特定條件,本公司繼承全部債權以
+及相關權益。同時,本集團須向融資
+機構償付客戶的剩餘款���,並有權通
+過變賣新能源汽車等救濟措施採取收
+回措施,以償付客戶對融資機構的剩
+餘欠款,並保留對剩餘債權進行追索
+的權利。管理層認為,收回的汽車能
+夠變賣,而變賣收入與收購價的差額
+並不重大。於二零二一年十二月三十
+一日,本集團對該等義務最大敞口為
+人民幣6,409,637,000元(二零二零
+年:人民幣8,644,159,000元)。截至
+二零二一年十二月三十一日止年度,
+未發生因客戶拖欠付款而令本集團需
+向融資機構支付的任何款項。
+104,692,731
+RMB'000
+人民幣千元
+。
+於二零二一年十二月三十一
+日,本集團對融捷股份有
+限公司的最大敞口為人民
+幣32,412,000元(二零二零
+年十二月三十一日:人民幣
+55,260,000).
+Annual Report 2021
+二零二一年年報
+269
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+44.
+CONTINGENT LIABILITIES (CONTINUED)
+44.
+或有負債(續)
+Litigation (Continued)
+(a)
+訴訟(續)
+(a)
+Action against Foxconn (Continued)
+As at the reporting date, the case remains in the
+process of legal proceedings. After consulting the
+Company's legal counsel representing the Company
+for the case, the Board is of the view that the
+estimate of ultimate outcome and amount to settle
+the obligation, if any, of the litigation cannot be
+made reliably up to date.
+富士康訴訟案件(續)
+於本報告日期,該訴訟案仍處於法律
+訴訟階段。經諮詢於案件中代表本公
+司的本公司法律顧問,董事會認為直
+至目前為止尚難以可靠估計該訴訟的
+最終結果及了結訴訟須支付的有關款
+項金額(如有)。
+(b)
+At the end of the reporting period, contingent
+liabilities not provided for in the financial statements
+were as follows:
+(b)
+於報告期末,財務報表內未計提的或
+有負債如下:
+2021
+二零二一年
+RMB'000
+人民幣千元
+2020
+二零二零年
+就本公司授予附屬公司的
+融資向銀行提供的擔保
+於二零二一年十二月三十一
+日,本集團對深圳迪滴及其附
+屬公司義務的最大敞口為人民
+幣961,110,000元(二零二零
+年十二月三十一日:人民幣
+1,429,996,000) •
+Annual Report 2021
+二零二一年年報
+Notes to Financial Statements
+New leases
+Interest expense
+融資現金流量變動
+於二零二一年一月一日
+51,270,597
+1,011,793
+(19,471,981)
+517,232
+(270,762)
+新租賃
+854,306
+利息開支
+Interest capitalised
+資本化利息
+Foreign exchange movement
+外匯波動
+At 31 December 2021
+於二零二一年十二月三十一日
+33,729,304
+544,363
+1,663,719
+1,812,129
+7,715
+110,844
+27,131
+68,382
+BYD Company Limited
+272
+比亞迪股份有限公司
+Changes from financing cash flows
+271
+At 1 January 2021
+其他應負債
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+45.
+NOTES TO THE CONSOLIDATED STATEMENT
+OF CASH FLOWS
+45.
+合併現金流量表附註
+(a)
+Major non-cash transactions
+(a)
+主要非現金交易
+During the year, the Group had non-cash additions
+to right-of-use assets and lease liabilities of
+RMB961,161,000 (2020:RMB506,529,000) and
+RMB961,161,000 (2020:RMB506,529,000),
+respectively, in respect of lease arrangements for
+leasehold land, buildings and machinery and other
+equipment.
+年內,本集團就租賃土地、樓宇、機
+器及其他設備的租賃安排的使用權資
+產及租賃負債的非現金添置分別為人
+民幣961,161,000元(二零二零年:
+人民幣506,529,000元)及人民幣
+961,161,000元(二零二零年:人民
+幣506,529,000元)。
+(b)
+Changes in liabilities arising from financing
+activities
+(b)
+融資活動所產生的負債變動
+2021
+二零二一年
+Interest-
+bearing bank
+and other
+borrowings
+Other
+Lease
+liabilities
+liabilities
+計息銀行及
+其他借款
+租賃負債
+(!!)
+97,233,180
+As at 31 December 2021,the Group's
+maximum exposure of obligation to
+Shenzhen Didi and its subsidiaries was
+RMB961,110,000 (31 December 2020:
+RMB1,429,996,000).
+31 December 2021
+二零二一年十二月三十一日
+47. RELATED PARTY TRANSACTIONS 47. 關聯方交易 (續)
+(CONTINUED)
+(a)
+(continued)
+(a)
+(續)
+Notes: (continued)
+附註:(續)
+(ix)
+The sales of products and service to Youngy
+Holding, a company of which a non-executive
+director of the Company is a director of the
+board, were made according to the published
+prices offered to other customers of the Group.
+(ix)
+向融捷控股(本公司一名非執行
+董事為該公司董事會董事)出售
+產品及服務乃根據向本集團其
+他客戶提出的公佈價格進行。
+(x)
+(xi)
+(xii)
+The sales of products and service to Onyx
+International Inc., a company of which a non-
+executive director of the Company is a director
+of the board, were made according to the
+published prices offered to other customers of
+the Group.
+The sales of products to Zhengxuan Qianzhan,
+a company of which a non-executive director
+of the Company is a director of the board, were
+made according to the published prices offered
+to other customers of the Group.
+The purchases of products from Easpring
+Technology, a company of which a former
+independent non-executive director of the
+Company was an independent director of the
+company in the past twelve months, were made
+according to the published prices offered by
+Easpring Technology to other customers.
+(xiii) The purchases of products and service
+from Baiguoyuan, a company of which an
+independent non-executive director of the
+Company was the independent director of the
+board, were made according to the published
+prices offered to other customers.
+(xiv) The purchases of products from Changhehua
+lithium, a company indirectly controlled by a
+non-executive director of the Company, were
+made according to the published prices offered
+to other customers.
+(x)
+向文石信息(本公司一名非執行
+董事為該公司董事會董事)出售
+產品及服務乃根據向本集團其
+他客戶提出的公佈價格進行。
+(xi)
+向正軒前瞻(本公司一名非執行
+董事為該公司董事會董事)出售
+產品乃根據向本集團其他客戶
+提出的公佈價格進行。
+財務報表附註
+(xii)
+Notes to Financial Statements
+As at 31 December 2021, the Group's
+maximum exposure of obligation to Rongjie
+Company Limited was RMB32,412,000(31
+December 2020: RMB55,260,000).
+(ii)
+向合營公司及聯營公司出售機
+器及設備乃根據本集團向其他
+客戶提出的公佈價格進行。
+(iii)
+The service income from joint ventures and
+associates was made according to the
+published prices offered by the Group to their
+other customers.
+(iii)
+自合營公司及聯營公司所得服
+務收入乃根據本集團向其他客
+戶提出的公佈價格進行。
+(iv)
+The rental expense was charged at prices
+mutually agreed between the Group and joint
+ventures and associates.
+(iv)
+租金開支乃按經本集團與合營
+公司及聯營公司雙方協定的價
+格收取。
+(v)
+The purchases of products and service from
+joint ventures and associates were made
+according to the published prices offered by
+joint ventures and associates to their other
+(v)
+向合營公司及聯營公司購買產
+品及服務乃根據合營公司及聯
+營公司向彼等其他客戶提出的
+公佈價格進行。
+customers.
+(vi)
+The sales of products and service to UBTECH,
+a company of which a non-executive director
+of the Company is a director of the board, were
+made according to the published prices offered
+to other customers of the Group.
+(vi)
+向優必選(本公司一名非執行董
+事為其董事會董事)出售產品及
+服務乃根據向本集團其他客戶
+提出的公佈價格進行。
+(vii)
+(vii)
+Northern Qinchuan is a company of which a
+supervisor of the Company was an executive
+director of the company in the past twelve
+months. The sales and purchases of products
+and services made with Northern Qinchuan
+were according to the published prices offered
+to other customers.
+(viii) The sales of products and service to UniFortune,
+a company of which a non-executive director
+of the Company is a director of the board, were
+made according to the published prices offered
+to other customers of the Group.
+(viii)
+北方秦川為本公司一名監事於
+過去十二個月為該公司董事會
+執行董事的公司。與北方秦川
+作出的產品及服務買賣乃根據
+向其他客戶提供的公佈價格進
+行。
+向聯合利豐(本公司一名非執行
+董事為其董事會董事)出售產品
+及服務乃根據本集團向其他客
+戶提出的公佈價格進行。
+276
+比亞迪股份有限公司
+(xiii)
+BYD Company Limited
+向當升科技(本公司一名前任獨
+立非執行董事於過去十二個月
+為該公司董事會獨立董事)購買
+產品乃根據當升科技向其他客
+戶提出的公佈價格進行。
+於二零二一年十二月三十一
+日,本公司為騰勢的人民幣
+333,455,000元(二零二零
+年十二月三十一日:人民幣
+406,054,000元)的借款向銀
+行作出擔保。
+於二零二一年十二月三十一
+日,本公司為比亞迪汽車金
+融的人民幣2,495,000,000
+元(二零二零年十二月三十
+一日:人民幣4,560,000,000
+元)的借款向銀行作出擔保。
+於二零二一年十二月三十一
+日,本公司為天津宏迪的人民
+幣807,358,000元(二零二零
+年十二月三十一日:人民幣
+459,893,000元)的借款向銀
+行作出擔保。
+於二零二一年十二月三十一
+日,本公司為中冶瑞木的人
+民幣60,000,000元(二零二零
+年十二月三十一日:人民幣
+100,000,000元)的借款向銀
+行作出擔保。
+於二零二一年十二月三十一
+日,本公司為湖北儲能電站
+的借款向銀行作出擔保人民
+幣10,315,000元(二零二零
+年十二月三十一日:人民幣
+13,380,000).
+BYD Company Limited
+278
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+47. RELATED PARTY TRANSACTIONS
+(CONTINUED)
+關聯方交易(續)
+(b)
+Guarantees provided to related parties:
+(continued)
+(b)
+關聯方擔保:(續)
+Repurchase obligation
+回購義務
+Details of the repurchase obligation are disclosed in
+note 44(c) to the consolidated financial statements.
+有關回購義務詳情於合併財務報表附
+註44(c)內披露。
+(i)
+(i)
+(ii)
+(xiv)
+(v)
+(iv)
+47.
+As at 31 December 2021, the Company
+provided a guarantee to the bank for
+the borrowing of MCC Ramu amounting
+to RMB60,000,000 (31 December 2020:
+RMB100,000,000).
+向百果園(本公司一名獨立非執
+行董事為該公司董事會獨立董
+事)購買產品及服務乃根據向其
+他客戶提出的公佈價格進行。
+As at 31 December 2021, the Company
+provided a guarantee to the bank for
+the borrowing of Hubei Energy Storage
+amounting to RMB10,315,000(31 December
+2020: RMB13,380,000).
+向長和華鋰科技(本公司一名非
+執行董事間接控制的公司)購買
+產品乃根據向其他客戶提出的
+公佈價格進行。
+Annual Report 2021
+二零二一年年報
+277
+Notes to Financial Statements
+財務報表附註
+47. RELATED PARTY TRANSACTIONS 47.
+(CONTINUED)
+(b)
+Loan guarantees
+(i)
+As at 31 December 2021, the Company
+provided a guarantee to the bank for
+the borrowing of DENZA amounting to
+RMB333,455,000 (31 December 2020:
+RMB406,054,000).
+(ii)
+As at 31 December 2021, the Company
+provided a guarantee to the bank for the
+borrowing of BYD Auto Finance amounting
+to RMB2,495,000,000 (31 December 2020:
+RMB4,560,000,000).
+Guarantees provided to related parties:
+31 December 2021
+二零二一年十二月三十一日
+RMB459,893,000).
+(v)
+(iv)
+(iii)
+(iii)
+(!!)
+As at 31 December 2021, the Company
+provided a guarantee to the bank for the
+borrowing of Tianjin Hongdi amounting
+to RMB807,358,000(31 December 2020:
+借款擔保
+關聯方擔保:
+(b)
+關聯方交易 (續)
+(i)
+2,398,177
+57,541
+137,566
+1,011,793
+137,566
+1,011,793
+57,541
+2,808,908
+8,860,571
+other payables and accruals
+Other liabilities
+應計費用的金融負債
+其他負債
+3,547,101
+738,193
+計入其他應付款項及
+8,860,571
+Financial liabilities included in
+49,791,630 49,791,630
+Derivative financial instruments
+Trade and bills payables
+2,866,449 114,208,527 117,074,976
+應付貿易賬款及票據
+Interest-bearing bank and
+計息銀行及其他借款
+51,270,597
+衍生金融工具
+51,270,597
+Due to joint ventures and associates
+應付合營公司及聯營公司款項
+2,398,177
+Due to other related parties
+Lease liabilities
+應付其他關聯方款項
+租賃負債
+other borrowings
+Annual Report 2021
+二零二一年年報
+The Group invests in unlisted investments, which represent
+wealth management products issued by banks in Mainland
+China. The Group has estimated the fair value of these
+unlisted investments by using a discounted cash flow
+Notes to Financial Statements
+人民幣千元
+本集團進行的非上市投資乃指由中國內地銀
+行發行的理財產品。本集團已根據相若條款
+及風險工具的市場利率,使用折現現金流量
+估值模型估計該等非上市投資的公允價值。
+上市的權益工具投資,以市場報價確定公允
+價值。對於限售股票、非上市的權益工具投
+資,本集團利用近期交易法或者採用估值技
+術來確定其公允價值,估值技術包括市場乘
+數法、期權定價模型等。其公允價值的計量
+採用了重要的不可觀察參數,比如企業價
+值/收入(“EV/Revenue”)比率、流動性折扣
+等。持續第三層次公允價值計量的金融工具
+對這些不可觀察輸入值的合理變動無重大敏
+感性。本集團相信,以估值技術估計的公允
+價值及其變動,是合理的,並且亦是於資產
+負債表日最合適的價值。
+valuation model based on the market interest rates of
+instruments with similar terms and risks.
+The fair values of listed equity investments are based on
+quoted market prices. For restricted shares and unlisted
+equity investments, the Group adopts recent transaction
+method or the valuation techniques to determine the fair
+values. Valuation techniques include market multiples and
+option pricing model, etc. The fair value measurement
+of these financial instruments may involve important
+unobservable inputs such as enterprise value to revenue
+(“EV/Revenue") multiple and liquidity discount. The
+fair value of the financial instruments in Level 3 was
+not significantly sensitive to a reasonable change in
+these unobservable inputs. The Group believes that the
+estimated fair values resulting from the valuation technique
+and the related changes in fair values are reasonable, and
+they were the most appropriate values at the end of the
+reporting period.
+金融工具之公允價值及公允價值層級
+(續)
+49.
+49. FAIR VALUE AND FAIR VALUE HIERARCHY OF
+FINANCIAL INSTRUMENTS (CONTINUED)
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份��限公司
+288
+BYD Company Limited
+計息銀行及其他借款的公允價值是基於預期
+未來折現現金流量按類似條款、信用風險和
+剩餘到期日的工具的通行利率計算。於二零
+二一年十二月三十一日,本集團有關計息銀
+行及其他借款未履約風險的公允價值變動被
+評為不重大。
+金融資產及負債的公允價值乃各自願人士之
+間進行現時交易時工具可予以匯兌的價格,
+而該等交易並非在被迫或清盤的情況下進
+行。以下方法及假設用於估計公允價值:
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+49.
+FAIR VALUE AND FAIR VALUE HIERARCHY OF
+FINANCIAL INSTRUMENTS
+49.
+金融工具之公允價值及公允價值層級
+287
+Management has assessed that the fair values of restricted
+bank deposits, cash and cash equivalents, pledged
+deposits,trade receivables, trade and bills payables,
+financial assets included in prepayments, other receivables
+and other assets, financial liabilities included in other
+payables and accruals, amounts due from/to joint ventures
+and associates and amounts due from/to other related
+parties approximate to their carrying amounts largely due
+to the short-term maturities of these instruments.
+The Group's corporate finance team headed by the finance
+manager is responsible for determining the policies and
+procedures for the fair value measurement of financial
+instruments. The corporate finance team reports directly
+to the chief financial officer and the audit committee. At
+each reporting date, the corporate finance team analyses
+the movements in the values of financial instruments and
+determines the major inputs applied in the valuation. The
+valuation is reviewed and approved by the chief financial
+officer. The valuation process and results are discussed
+with the audit committee twice a year for interim and annual
+financial reporting.
+The fair values of the financial assets and liabilities are
+included at the amount at which the instrument could be
+exchanged in a current transaction between willing parties,
+other than in a forced or liquidation sale. The following
+methods and assumptions were used to estimate the fair
+values:
+The fair values of the interest-bearing bank and other
+borrowings have been calculated by discounting the
+expected future cash flows using rates currently available
+for instruments with similar terms, credit risk and remaining
+maturities. The changes in fair value as a result of the
+Group's own non-performance risk for interest-bearing
+bank and other borrowings as at 31 December 2021 were
+assessed to be insignificant.
+本集團企業融資團隊由融資經理領導,負責
+釐定金融工具公允價值計量之政策及程序。
+企業融資團隊直接向財務總監及審核委員會
+報告。於各報告日期,企業融資團隊分析金
+融工具之價值變動及釐定應用於估值之主要
+輸入數字。估值交由財務總監審核及批准。
+財務總監與審核委員會每年就中期及年度財
+務報告的估值程序及結果進行兩次討論。
+管理層已評估受限制銀行存款、現金及現金
+等價物、已抵押存款、應收貿易賬款、應付
+貿易賬款及票據、計入預付款項、其他應收
+賬款及其他資產的金融資產、計入其他應付
+款項及應計費用的金融負債、應收/應付合
+營公司及聯營公司款項及應收/應付其他關
+聯方款項的公允價值與其賬面值相若,此乃
+主要由於該等工具均屬於短期性質。
+RMB'000
+Annual Report 2021
+二零二一年年報
+總計
+2021
+二零二一年
+RMB'000
+人民幣千元
+應付其他關聯方款項:
+北方秦川
+Mingzhu Plastic
+Easpring Technology
+UBTECH
+明珠塑料
+當升科技
+優必選
+Onyx International Inc.
+文石信息
+2020
+二零二零年
+RMB'000
+人民幣千元
+6
+16,630
+83,976
+120,683
+174
+199
+48
+與關聯方的未償還結餘:(續)
+(c)
+Outstanding balances with related parties:
+(continued)
+(c)
+關聯方交易(續)
+47.
+2,398,177
+47. RELATED PARTY TRANSACTIONS
+(CONTINUED)
+財務報表附註
+Notes to Financial Statements
+281
+Annual Report 2021
+二零二一年年報
+137,566
+84,150
+31 December 2021
+二零二一年十二月三十一日
+The balances are unsecured, interest-free and have
+no fixed terms of repayment.
+1,636,828
+開發有限公司
+Faurecia
+佛吉亞
+994,311
+769,042
+BYD Electric Car and its subsidiaries
+比亞迪電動汽車及
+19,158
+14,369
+其附屬公司
+Shenzhen Didi and its subsidiaries
+深圳迪滴及其附屬公司
+58
+540
+Meihao Chuxing
+美好出行
+896,321
+Dongguan Tec-Rich
+青海鹽湖比亞迪資源
+(「比豐電動車」)
+Northern Qinchuan
+Amounts due to other related parties:
+Development Co., Ltd.
+Qinghai Salt Lake BYD Resources
+208,821
+科技有限公司
+98,599
+比亞迪豐田電動車
+BYD-TOYATA EV Technology Co., Ltd.
+(“BTET”)
+34,850
+12,827
+東莞德瑞
+12,954
+275
+結餘為無抵押、免息及無固定還款
+期。
+As at 31 December 2021, the Group had total
+lease liabilities with related companies under non-
+二零二一年十二月三十一日
+47. RELATED PARTY TRANSACTIONS
+(CONTINUED)
+(e)
+47.
+關聯方交易(續)
+Compensation of key management personnel
+of the Group:
+(e) 本集團的主要管理人員薪酬:
+2021
+二零二一年
+RMB’000
+人民幣千元
+2020
+二零二零年
+RMB'000
+人民幣千元
+279
+Short term employee benefits
+Pension scheme contributions
+短期僱員福利
+退休計劃供款
+72,656
+431
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+283
+Annual Report 2021
+二零二一年年報
+則第14A章界定的關連交易。
+31 December 2021
+有關附註47(a)、(b)、(c)及(d)所載
+的項目的關聯方交易並不構成上市規
+constitute connected transactions as defined in
+Chapter 14A of the Listing Rules.
+The related party transactions in respect of the
+items set out in note 47(a), (b), (c) and (d) do not
+Further details of directors' and supervisors'
+emoluments are included in note 9 to the
+consolidated financial statements.
+71,622
+73,087
+322
+董事及監事酬金的進一步詳情載於合
+併財務報表附註9。
+(d)
+財務報表附註
+比亞迪股份有限公司
+cancellable leases falling due as follows:
+於二零二一年十二月三十一日,本集
+團根據不可撤銷租賃與關聯公司擁有
+的租賃負債總額到期情況如下:
+Lease liabilities - current
+租賃負債 - 即期
+Lease liabilities - non-current
+租賃負債 - 非即期
+31 December
+31 December
+2021
+2020
+二零二一年
+二零二零年
+十二月三十一日 十二月三十一日
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+6,018
+282
+BYD Company Limited
+於二零二一年,本集團在比亞迪汽
+車金融的關聯方存款餘額為人民幣
+14,700,000,000元(二零二零年十二
+月三十一日:人民幣2,500,000,000
+元),以中國人民銀行公佈的同期
+存款基準利率為基準,年利率介乎
+2.25%至3%(二零二零年:1.65%至
+2.25%)°
+存放於關聯方的貨幣基金:
+(d)
+Monetary funds deposited with related parties:
+In_2021,the Group kept a related party deposit
+balance of RMB14,700,000,000 (31 December 2020:
+RMB2,500,000,000) with the BYD Auto Finance,
+where the annual interest rate was from 2.25% to
+3%(2020:1.65% to 2.25%) on the basis of the
+benchmark interest rate published by the People's
+Bank of China on the deposit for the same period.
+Notes to Financial Statements
+於二零二一年十二月三十一日,與
+該等租賃合約有關的使用權資產的
+賬面淨值為人民幣7,508,000元(二
+零二零年十二月三十一日:人民幣
+14,912,000).
+As at 31 December 2021, the net carrying amount of
+right-of use assets relating to such rental contracts
+17,145
+8,622
+7,480
+2,604
+9,665
+amounted to RMB7,508,000 (31 December 2020:
+RMB14,912,000).
+64
+比亞迪汽車金融
+BYD Auto Finance
+2021
+二零二一年
+RMB'000
+人民幣千元
+3,434,820
+2,311,945
+163,947
+美好出行
+71,958
+98,566
+佛吉亞
+422
+比豐電動車
+33,075
+銀川運營
+4,211
+171,059
+東莞德瑞
+30,680
+518
+38
+西安城投
+237,776
+BYD Electric Car and its subsidiaries
+比亞迪電動汽車及
+71
+Amounts due from other related parties:
+Changhehua lithium
+其附屬公司
+Dongguan Tec-Rich
+Yinchuan Operation
+BTET
+Faurecia
+Meihao Chuxing
+天津宏迪
+Tianjin Hongdi
+深電能及其附屬公司
+應收關聯方款項:
+49,006
+RMB'000
+人民幣千元
+190,265
+51,859
+騰勢
+DENZA
+款項:
+associates:
+應付合營公司及聯營公司
+Amounts due to joint ventures and
+人民幣千元
+RMB'000
+二零二零年
+二零二一年
+RMB'000
+人民幣千元
+2020
+2021
+與關聯方的未償還結餘:(續)
+(c)
+2020
+二零二零年
+RMB'000
+人民幣千元
+BYD Company Limited
+280
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+長和華鋰科技
+31 December 2021
+47. RELATED PARTY TRANSACTIONS
+47.
+關聯方交易(續)
+(CONTINUED)
+(c)
+Outstanding balances with related parties:
+(continued)
+二零二一年十二月三十一日
+30,425
+37,740
+北京華林特裝車
+二零二零年
+RMB'000
+二零二一年
+RMB'000
+人民幣千元
+2020
+2021
+(c) 與關聯方的未償還結餘:
+Outstanding balances with related parties:
+(c)
+(CONTINUED)
+47. RELATED PARTY TRANSACTIONS 47. 關聯方交易(續)
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+International Financial Lease
+國際融資租賃
+93,214
+125,469
+Tianjin BYD
+2,339
+1,374
+深電能及其附屬公司
+Shendianneng and its subsidiaries
+1,803
+128,678
+342,926
+人民幣千元
+廣汽比亞迪
+11
+西湖新能源
+12,451
+22,427
+天津比亞迪
+Xihu New Energy
+Guang Qi BYD
+Amounts due from joint ventures and
+應收合營公司及聯營公司
+associates:
+西湖新能源
+11,029
+40,139
+Guang Qi BYD
+廣汽比亞迪
+915,774
+Xihu New Energy
+1,532,276
+深圳迪滴及其附屬公司
+10,199
+23,934
+Beijing Hualin Loading
+Shendianneng and its subsidiaries
+Xi'an Infrastructure
+Shenzhen Didi and its subsidiaries
+48.
+1,649
+140,157
+款項:
+DENZA
+騰勢
+15,004
+28,162
+Tianjin BYD
+278,358
+天津比亞迪
+1,122,068
+International Financial Lease
+國際融資租賃
+3,192
+BYD Auto Finance
+比亞迪汽車金融
+744,338
+FINANCIAL INSTRUMENTS BY CATEGORY
+71,300
+分類金融工具
+fair value through other
+comprehensive income
+計量並計入
+損益的
+金融資產
+Mandatorily
+以公允價值計量並計入
+其他綜合收益的金融資產
+Financial
+assets at
+designated
+as such
+Debt
+Equity
+amortised
+investments
+investments
+cost
+Total
+以攤銷
+強制指定為
+1,804,913
+1,804,913
+以公允價值計量並計入其他綜合
+收益的權益投資
+other comprehensive income
+Equity investments at fair value through
+長期應收賬款
+Financial assets at
+Long-term receivables
+總計
+金融資產
+RMB'000
+人民幣千元
+權益投資
+RMB'000
+人民幣千元
+債務投資
+RMB'000
+人民幣千元
+該類別
+RMB'000
+人民幣千元
+成本計量的
+RMB'000
+人民幣千元
+1,420,080
+金融資產
+or loss
+以公允價值
+other payables and accruals
+Other liabilities
+應付其他關聯方款項
+84,150
+84,150
+租賃負債
+1,663,719
+1,663,719
+計入其他應付款項及
+41,074,871 41,074,871
+應計費用的金融負債
+其他負債
+2,936,143
+27,649
+2,963,792
+2,936,143
+48.
+Annual Report 2021
+二零二一年年報
+profit
+through
+fair value
+assets at
+Financial
+Financial assets
+二零二零年
+2020
+分類金融工具(續)
+48. FINANCIAL INSTRUMENTS BY CATEGORY 48.
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+285
+(CONTINUED)
+1,420,080
+Other non-current financial assets
+其他非流動金融資產
+8,862,340 1,420,080
+59,533,615 71,536,416
+BYD Company Limited
+286
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+48. FINANCIAL INSTRUMENTS BY CATEGORY
+(CONTINUED)
+48.
+分類金融工具(續)
+2020
+Financial liabilities
+二零二零年
+金融負債
+Financial
+成本計量的
+金融負債
+計入損益的
+金融負債
+RMB'000
+人民幣千元
+以攤銷
+計量並
+以公允價值
+Total
+1,720,381
+cost
+amortised
+liabilities at
+Financial
+through
+fair value
+liabilities at
+profit or loss
+13,738,498 13,738,498
+277,491
+277,491
+Financial assets included in prepayments,
+8,862,340
+8,862,340
+應收款項融資
+3,434,820
+3,434,820
+計入預付款項、其他應收賬款及
+應收合營公司及聯營公司款項
+39,307,896
+39,307,896
+應收貿易賬款
+Trade receivables
+284,896
+284,896
+Due from joint ventures and associates
+Receivbles Financing
+Financial liabilities included in
+1,435,461
+1,976,417
+429,041
+429,041
+24
+24 --
+現金及現金等價物
+Cash and cash equivalents
+540,956
+受限制銀行存款
+已抵押存款
+Pledged deposits
+衍生金融工具
+其他資產的金融資產
+Derivative financial instruments
+other receivables and other assets
+Restricted bank deposits
+Lease liabilities
+157,260,400 160,196,543
+1,636,828
+權益投資
+RMB’000
+人民幣千元
+金融資產
+RMB'000
+人民幣千元
+總計
+RMB'000
+人民幣千元
+Equity investments at fair value through
+other comprehensive income
+以公允價值計量並計入其他綜合
+收益的權益投資
+Other non-current financial assets
+Trade receivables
+其他非流動金融資產
+233,972
+應收貿易賬款
+Due from joint ventures and associates
+Receivables Financing
+應收合營公司及聯營公司款項
+應收款項融資
+8,743,126
+Due to other related parties
+計入預付款項、其他應收賬款及
+1,168,475
+1,168,475
+現金及現金等價物
+Cash and cash equivalents
+受限制銀行存款
+Restricted bank deposits
+債務投資
+RMB’000
+人民幣千元
+已抵押存款
+31,600
+衍生金融工具
+其他資產的金融資產
+Derivative financial instruments
+other receivables and other assets
+7,041,595
+Pledged deposits
+2,913,836
+該類別
+RMB’000
+人民幣千元
+強制指定為
+The carrying amounts of each of the categories of financial
+instruments as at the end of the reporting period are as
+follows:
+於報告期末,各類金融工具的賬面值載列如
+下:
+2021
+Financial assets
+Long-term receivables
+長期應收賬款
+Financial
+assets at
+fair value
+二零二一年
+金融資產
+through
+profit
+or loss
+以公允價值
+計量並計入
+Financial assets at
+fair value through other
+以攤銷
+Total
+cost
+as such investments investments
+amortised
+Equity
+成本計量的
+Debt
+assets at
+Mandatorily
+Financial
+以公允價值計量並計入
+其他綜合收益的金融資產
+損益的
+金融資產
+comprehensive income
+designated
+2,913,836
+Financial assets included in prepayments,
+-
+Financial
+liabilities at
+Financial
+fair value
+liabilities at
+through
+amortised
+profit or loss
+cost
+Total
+以公允價值
+計量並
+以攤銷
+��入損益
+金融負債
+RMB'000
+人民幣千元
+233,972
+RMB'000
+人民幣千元
+1,636,828
+應付合營公司及聯營公司款項
+Due to joint ventures and associates
+other borrowings
+33,729,304
+33,729,304
+金融負債
+計息銀行及其他借款
+79,043,879 79,043,879
+應付貿易賬款及票據
+Trade and bills payables
+人民幣千元
+RMB'000
+總計
+Interest-bearing bank and
+二零二一年
+成本計量的
+金融負債
+2021
+35,593,138
+2,138,764
+Financial liabilities
+35,593,138
+2,138,764
+-
+8,743,126
+852,905
+7,894,500
+31,600
+528,128
+528,128
+109,109
+109,109
+49,819,860
+49,819,860
+-
+48. FINANCIAL INSTRUMENTS BY CATEGORY
+(CONTINUED)
+7,307,167
+The carrying amounts of each of the categories of financial
+分類金融工具(續)
+48.
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+284
+BYD Company Limited
+2,913,836 920,210,379 109,174,508
+8,743,126
+於報告期末,各類金融工具的賬面值載列如
+下:(續)
+instruments as at the end of the reporting period are as
+follows: (continued)
+Management Discussion and Analysis
+管理層討論與分析
+Guided by the marketization strategy, the Group opened the
+supply chain and built an ecosystem which enables core business
+segments to generate revenues independently, so that different
+business segment of the Group could have resonance effect,
+which further promotes the robust growth of the vehicle business.
+During the period, its subsidiary BYD Semiconductor's application
+for spin-off was accepted by the Shenzhen Stock Exchange, which
+is an important milestone in the Group's market-oriented strategic
+initiatives. BYD Semiconductor is in the leading position of the
+domestic automotive-grade semiconductors manufacturers. Spin-
+off will help BYD Semiconductor, to expand financing channel,
+improve the diversity of customers and enhance the independence
+of the industry chain of domestic new energy vehicle. Going
+forward, BYD Semiconductor will form a sustainable competitive
+advantage by strengthening resource integration capabilities and
+product R&D abilities. Making the utmost of the domestic capital
+market and seizing market development opportunities, BYD
+Semiconductor is committed to becoming an efficient, intelligent,
+and integrated new semiconductor supplier.
+Within the policy context of "Dual-Carbon", as a determined
+practitioner and leader of a green dream, the Group has
+responded positively by giving full play to its unique advantages
+in the field of new energy, launching comprehensive green
+solutions including new energy vehicle, photovoltaics, energy
+storage,“SkyRail” and “SkyShuttle”. In addition, while contributing
+to the realization of the "Dual-Carbon" goal, the Group continues
+to tap its own energy-saving and emission-reduction potential,
+striving to be a benchmark enterprise in green manufacturing.
+In August, the Group took the lead in building the first zero-
+carbon headquarter of automobile brand in China, setting a
+new benchmark for energy-saving and emission reduction in the
+industry. In November, the Group was awarded the first SGS
+Certificate of Declaration of Commitment to Carbon Neutrality
+in China, marking the recognition of the Group Industrial Park's
+efforts in carbon neutrality by an international authoritative third-
+party organization during _2021. In December, the Group was
+granted the award of “Outstanding Green Enterprise” again. In
+addition, the Group actively takes its social responsibility. During
+the year, Zhengzhou, Henan and other places had suffered from
+natural disasters such as a heavy rainfall, and the Group not only
+contributed to Zhengzhou Charity Federation through BYD Charity
+Foundation for disaster rescue emergency initiatives and post
+disaster recovery efforts, but also launched owner emergency
+rescue service access, and opened all the 4S shops in Zhengzhou
+as emergency shelters to assist disaster resistance to the extent
+possible. In reacting to the recurring COVID-19 pandemic in
+certain regions, the Group helped Shenzhen to fight the pandemic
+in the form of donating pandemic prevention materials, and as
+the Company launched the battery electric P2+ nucleic acid test
+vehicle with a domestic leading life science and biotechnology
+company, it incorporates green technology into medical services
+to offer more reliable, stronger and eco-friendly support for
+pandemic prevention and control.
+In terms of external cooperation, the Group continued to
+use strategic investment as a approach to achieve industrial
+empowerment, therefore, accelerate the development of industry's
+ecosystem,which help to forge a win-win cooperation. During
+the period, the Group invested in the field of semiconductor,
+automotive intelligence, industrial software and new materials.
+Relying on the profound technology accumulations and application
+experience, the Group actively deployed the entire industry chain
+of semiconductor, software and hardware related to automotive
+intelligence, automobile components design tools, etc., promoting
+in-depth exploration in technology research and development.
+In the field of power batteries, high-quality resources related
+to battery aluminum foil, alumimum laminated films, diaphragm
+and electrolyte additives are deployed by the Group to further
+strengthen the synergy of upstream and downstream industries.
+In the field of carbon neutrality, the Group will make full use of its
+advantage in new energy industry to actively engage with various
+industries which supported by the national policy of carbon
+peaking and carbon neutrality.
+Annual Report 2021
+二零二一年年報
+21
+在市場化戰略下,本集團開放供應鏈、打造生態
+圈,讓核心業務板塊擁有獨立造血的能力,從而使
+得各業務之間產生共振效應、促進整車業務的蓬勃
+發展。期內,旗下子公司比亞迪半導體分拆上市申
+請獲深交所受理,是本集團市場化戰略佈局的重要
+里程碑。比亞迪半導體是國內車規級半導體領導
+廠商,分拆上市將有利於比亞迪半導體拓寬融資渠
+道、加快客戶多元化,增強國內新能源汽車產業鏈
+的自主可控能力。未來,比亞迪半導體將加強資源
+整合能力和產品研發能力形成可持續競爭優勢,充
+分利用國內資本市場,把握市場發展機遇,致力於
+成為高效、智能、集成的新型半導體供應商。
+In addition, with the burst of the new energy vehicle industry,
+the Group accurately grasped the window phase of issuance
+and completed two lightning placements of new H shares in
+January and November, respectively, which raised a total gross
+proceeds of nearly HK$43.8 billion. It provided strong financial
+support for the Group to increase its investment in automotive
+electrification, intelligence and power batteries, and helped the
+Group's business to achieve rapid growth. The placements of new
+H shares of the Company had attracted the participation of many
+top long-term and sovereign funds around the world, providing a
+good opportunity for the Group's capital structure and financial
+structure to be further optimized.
+BYD Company Limited
+22
+比亞迪股份有限公司
+Management Discussion and Analysis
+管理層討論與分析
+城市軌道交通領域,本集團自主研發的全球首輛無
+人駕駛「雲巴」,已在重慶璧山正式投入運營,為人
+們出行增加了新的方式與體驗,也開啟了商業化應
+用的新時代。而於深圳下線的巴西巴伊亞「雲軌」是
+全球首列下線的海外版「雲軌」車輛,亦是實現城市
+交通現代化的重要國際合作的象徵。
+對外合作方面,本集團繼續以戰略投資為紐帶實現
+產業賦能,加速打造產業生態,實現合作共贏。期
+內,在半導體、汽車智能化、工業軟件及新材料領
+域,本集團依託自身深厚的技術和應用經驗,積極
+佈局半導體全產業鏈、汽車智能相關軟硬件及汽車
+零部件設計製造等方向,推進技術研發層面的縱深
+探索。在動力電池領域,本集團通過佈局電池鋁
+箔、鋁塑膜、隔膜及電解液添加劑相關優質資源,
+進一步加強上下游產業協同。在碳中和領域,本集
+團將利用自身新能源產業優勢,積極佈局國家雙碳
+政策所支持的各類行業。
+In the field of urban rail transit, the world's first autonomous
+"SkyShuttle", independently developed by the Group, was officially
+put into operation in the Bishan District of Chongqing, initiated a
+new way of transportation and developed a new experience for
+people's lives. Furthermore, it created a new era of commercial
+application for urban rail transit system. The Bahia, Brazil “Skyrail”,
+which rolled off the assembly line in Shenzhen, is the world's first
+rolled-off overseas version of Skyrail vehicle, which is a symbol of
+major international cooperation to modernize urban transportation.
+In the field of Plug-in Hybrid Electric vehicles, BYD's “DM-i Super
+Hybrid”products, “fuel vehicle subverter”, have the similar price
+level with the fuel-engine vehicles. With the characteristics of ultra-
+low fuel consumption, quiet, smooth as well as excellent power,
+the "DM-i Super Hybrid" products have received widespread
+market attention and recognition. In January, the three “DM-i
+Super Hybrid”models i.e. “Qin PLUS DM-i”,“Song PLUS DM-i”
+and“Tang DM-i”were launched together and once released, the
+orders boomed and the demand exceeded the supply. Given
+rising market enthusiasm, although the sales volume increased
+month by month, the number of cumulative undelivered order kept
+hitting record highs. At the same time, in order to further improve
+the product matrix and meet the needs of consumers for niche
+markets,another member of the “DM-i Super Hybrid”family,the
+“Song Pro DM-i", was officially launched in December.
+在不斷鞏固於國內新能源乘用車市場地位的同時,
+本集團國際化戰略再提速。年內,本集團新能源乘
+用車���式佈局歐洲市場,首站挪威,計劃於年底
+前發出的1,500輛「唐EV」已順利抵達,並完成了
+1,000輛的交付,邁出了海外市場的重要一步。此
+外,本集團「漢EV」、「唐EV」、「元」系列車型也在
+全球範圍內多次亮相,為本集團全球化佈局打下基
+礎。
+此外,伴隨着新能源汽車行業的爆發,本集團於一
+月和十一月精準把握發行窗口期,分別成功完成兩
+次新H股閃電配售,合計募集資金近438億港元。為
+本集團加碼汽車電動化、智能化和動力電池等領域
+的投入提供強大的資金支持,助力本集團業務實現
+快速成長。本次新H股配售吸引了全球眾多頂級長
+線、主權基金參與,為本集團資本結構和財務結構
+進一步優化提供良機。
+Annual Report 2021
+二零二一年年報
+Management Discussion and Analysis
+管理層討論與分析
+In the field of Battery Electric vehicles, with technical innovations
+such as super safety, super endurance and super strength,
+"Blade Batteries" has reshaped the industry's perception of LFP
+batteries and accelerated its application in the field of passenger
+vehicles. In April, the full series of the Group's Battery Electric
+passenger vehicles were equipped with "Blade Batteries", which
+further upgraded the safety standards of the full series to provide
+consumers with safer driving experience, further enhanced the
+distinct competitiveness of the product and boosted the sales
+of Group's New Battery Electric vehicles to a record high. In
+addition, as the cradle of the next generation of high-performance
+intelligent electric vehicles, “e-Platform 3.0” combines four
+advantages of intelligence, efficiency, safety and aesthetics,
+which greatly improves the intelligent driving experience. In
+August, the first model equipped with “e-Platform 3.0”,“Dolphin”,
+was launched and its sales volume grew steadily.
+In addition, in order to comply with the market trend and satisfy
+the diversified needs of consumers, the Group officially launched
+"Marine" in November. It is an integrated sales network under the
+Group which not only fully integrates its advantageous channel
+resources but also develops more new marketing approaches.
+Starting from the consumption habits of young people, "Marine"
+opened super shops and city exhibition halls on the basis of
+the traditional 4S shop sales model to reach more customers
+and actively communicate with consumers to understand their
+real needs. Its products consist of two main series: the "Marine
+Life" with the latest technology of Battery Electric vehicle with
+“e-Platform 3.0”and the “Warship”with “DM-i Super Hybrid”
+technology.
+插電式混動汽車領域,被譽為「燃油車顛覆者」的
+「DM-i超級混動」產品,其價格直指同級別燃油車,
+並憑借超低油耗、靜謐平順、卓越動力的特點,廣
+受市場關注及認可。一月,「DM-i超級混動」車型
+「秦PLUS DM-i」、「宋PLUS DM-i」和「唐DM-i」三
+劍齊發,一經發佈即迎來訂單火爆,供不應求的良
+好局面,市場熱情持續高漲,儘管銷量逐月攀升,
+但累計未交付訂單還是不斷創出新高。同時,為了
+進一步完善產品序列,滿足消費者對細分市場的需
+求,十二月,「DM-i超級混動」家族再添一員,「宋
+Pro DM-i」正式上市。
+純電動汽車領域,「刀片電池」憑借超級安全、超級
+續航、超級強度等技術創新,重塑了行業對磷酸鐵
+鋰電池的認知,加速了磷酸鐵鋰電池在乘用車領域
+的滲透。四月,本集團旗下新能源純電動乘用車全
+系換裝「刀片電池」,實現了全系安全標準再升級,
+為消費者的安全駕乘保駕護航,並進一步提升產品
+的獨特競爭力,助力本集團純電動乘用車銷量屢創
+新高。此外,「e平台3.0」作為下一代高性能智能電
+動車的搖籃,兼具智能、高效、安全、美學四大優
+勢,大幅提升智能駕駛體驗。八月,搭載「e平台
+3.0」的首款車型「海豚」上市,月銷量一路攀升。
+純電動大巴領域,本集團憑借領先技術、靈活戰略
+持續深化市場佈局,不斷推出優質產品以滿足細分
+市場的需求。在國內開闢了九寨溝、日喀則、喀
+什、雲和及神農架等地區的客運和公交市場,助力
+中國新能源客車產業穩步向前。海外業務也繼續保
+持快速增長,二零二一年,本集團在哥倫比亞斬獲
+了海外地區迄今為止最大的純電動大巴訂單,並正
+式進入羅馬尼亞、芬蘭、巴基斯坦、愛爾蘭及南非
+等國家,將純電出行新體驗在全球範圍內推廣。
+此外,為順應市場發展趨勢,滿足消費者多元化的
+消費需求,本集團於十一月正式發佈「海洋網」。
+「海洋網」是本集團旗下一個綜合型的銷售網絡,不
+僅全面融合了本集團優勢渠道資源,而且開拓了更
+多新穎的營銷方式。「海洋網」從年輕人消費習慣出
+發,在傳統4S店銷售模式上新增了商超店和城市展
+廳,主動延伸用戶觸點,積極與消費者溝通,了解
+目標客群的真實訴求。其產品包含兩大序列:搭載
+純電「e平台3.0」最新技術的「海洋生物系列」及搭載
+「DM-i超級混動」技術的「軍艦系列」。
+BYD Company Limited
+20
+比亞迪股份有限公司
+Management Discussion and Analysis
+管理層討論與分析
+While continuously consolidating its position in the domestic
+new energy passenger vehicle market, BYD further sped up its
+internationalization strategy. Within the year, the Group's new
+energy vehicles formally entered the European market, with
+Norway serving as the first stop, where 1,500 “Tang EVs” planned
+to be shipped by the end of the year. The first 1,000 units had
+been delivered, which was an important step for exploiting the
+overseas market. In addition, the Group's “Han EVs”,“Tang EVs”
+and "Yuan" series models have also unveiled around the world,
+laying a foundation for the Group's global strategy.
+In the field of battery electric buses, the Group continued to
+deepen market layout with leading technologies and flexible
+strategies, continuing to launch high-quality products to meet the
+needs in differentiated market segments. In the domestic market,
+the Group further expanded its passenger transportation and
+public transportation business coverage in Jiuzhaigou, Shigatse,
+Kashgar, Yunhe and Shennongjia, which promotes China's new
+energy passenger vehicle industry to steadily advance. In terms
+of overseas business, it also continued to maintain rapid growth.
+In 2021, the Group had obtained a battery electric buses order in
+Colombia, which is the largest order overseas. And the Group also
+officially entered into the market of Romania, Finland, Pakistan,
+Ireland and South Africa and other countries, to promote the new
+experience of traveling by battery electric buses on a global
+scale.
+19
+在國家「雙碳」政策背景下,作為綠色夢想的堅定實
+踐者和引領者,本集團積極響應,充分發揮在新能
+源領域獨特優勢,推出新能源汽車、光伏、儲能、
+「雲軌」和「雲」等綜合性綠色解決方案。此外,
+本集團在助力「雙碳」目標實現的同時不斷挖掘本集
+團自身節能減排潛力,爭做綠色製造的標桿企業。
+八月,本集團率先打造中國汽車品牌首個零碳園區
+總部,樹立行業節能減排新標桿。十一月,本集團
+獲頒國內首張SGS承諾碳中和符合聲明證書,標誌
+着本集團工業園區在二零二一年期間在碳中和方面
+做出的努力得到國際權威第三方機構的認可。十二
+月,本集團再獲「傑出綠色環保企業」大獎。此外,
+本集團積極承擔社會責任,年內河南鄭州等地遭遇
+強降雨自然災害,本集團不僅通過比亞迪慈善基金
+會向鄭州慈善總會捐款,用於救災緊急舉措和災後
+恢復工作,更是開啟車主緊急救援服務通道,並開
+放鄭州市所有4S店作為應急避難場所,盡所能助力
+抗災。同時面對持續反復的疫情,本集團除了以捐
+贈防疫物資的形式助力深圳抗疫,亦聯同國內領先
+的生命科學與生物技術公司推出純電動P2+核酸檢
+測車,將綠色科技融入醫療服務,為疫情防控工作
+提供更可靠、更有力、更綠色環保的支持。
+Management Discussion and Analysis
+Management Discussion and Analysis
+比亞迪股份有限公司
+Annual Report 2021
+二零二一年年報
+In the field of urban rail transportation, as a determined
+practitioner and leader of the green dream, guided by the concept
+of solving social problems and driven by technological innovation.
+The Group strives to promote its low carbon and environmentally
+friendly urban rail transportation products “SkyRail” and
+"SkyShuttle", which are designed to provide a diversified green
+integrated solution for urban development while, expanding the
+market space significantly.
+二次充電電池方面,本集團將積極推進新技術應
+用,拓展客戶基礎,推動相關產品市場份額的持續
+提升。光伏業務方面,隨着「雙碳」目標政策明確,
+光伏行業迎來了黃金發展時期。本集團將緊抓行業
+發展契機,謀變創新,集中資源,着力推動產品轉
+型升級及技術突破,以高質量的產品來迎接全新爆
+發性增長機遇。
+二次充電電池及光伏業務
+5G及人工智能技術融合為市場迎來跨越發展窗口
+期,本集團前期佈局的智能家居、物聯網、無人
+機、機器人、電子霧化等多個領域借勢突破,預期
+各個市場領域發展勢頭良好,業務將實現持續高速
+增長。隨着汽車行業加速革新,從多個維度邁向電
+動化、數字化和智能化,加上利好政策接連出台,
+新能源汽車滲透率屢創新高,汽車智能化市場規模
+將不斷擴大。汽車智能系統需求爆發及自動駕駛的
+浪潮將有助擴大本集團汽車智能系統業務規模,本
+集團將繼續累積技術研發經驗,搶佔海內外市場,
+���來成長可期。醫療健康業務方面,本集團將持續
+強化專業業務團隊,加大研發投入,緊抓醫療設備
+領域的發展契機,為本集團培養新的增長動力。
+In terms of rechargeable batteries, the Group will actively promote
+the application of the new technologies, expand its customer base
+and promote continuous increments of market shares of relevant
+products. In terms of photovoltaics business, the photovoltaics
+industry has ushered in a golden period of development driven by
+the policy of "Dual-Carbon". The Group will seize the opportunities
+for industry development, seek changes and make innovation, and
+concentrate its resources on product transformation, upgrades
+and technological breakthroughs, to embrace the new explosive
+growth opportunities with high quality products.
+Rechargeable Batteries and Photovoltaic Business
+The integration of 5G and artificial intelligence technology has
+ushered in a window phase of span development for the market.
+The Group will take advantage of the momentum to make
+breakthroughs in various segments such as smart homes, Internet
+of Things, unmanned aerial vehicles, robots and electronic
+atomization arranged in the early stage. It is expected that
+each market sector will show a good development momentum
+and the business will achieve sustained and rapid growth. With
+the automotive industry accelerating its innovation and moving
+towards electrification, digitalization and intellectualization in a
+multi-dimensional way, and with the successive introduction of
+favorable policies, the penetration rate of new energy vehicles
+has reached new highs, and the intelligent vehicle market
+will expand continuously. The burgeoning demand for vehicle
+intelligent system and the wave of autonomous driving will help
+expand the Group's auto intelligent system business scale. The
+Group will continue to accumulate technology research and
+development experience to capture the domestic and overseas
+markets, with promising potential growth in the future. In the
+medical and health segment, the Group will continue to bolster its
+professional business team and increase investment in research
+and development to closely seize the development opportunities
+in the medical device sector and cultivate a new growth driver for
+the Group.
+管理層討論與分析
+Management Discussion and Analysis
+比亞迪股份有限公司
+28
+BYD Company Limited
+27
+二零二二年,海外成熟市場的5G換機需求以及新興
+國家的自然增長將會成為智能手機市場增長的主要
+推動力,然而零部件短缺及物流推遲情況持續或將
+壓抑全球智能手機產量增長。作為全球領先的智能
+手機及其他智能終端領導者,本集團有望受益於行
+業景氣度回升,進一步推動業務規模增長,而深厚
+的技術積累將為遠期成長空間提供持久驅動力。本
+集團將密切配合客戶的發展需求,積極擴大零部件
+及組裝業務市場份額。在穩居安卓領域龍頭地位的
+同時,本集團繼續深挖北美大客戶核心產品業務機
+會,爭取切入更多新業務,進一步鞏固其主要供貨
+商的地位。隨着北美大客戶的核心產品持續放量,
+業務規模將顯著擴張,為未來的營收增長爆發奠定
+堅實的基礎。
+手機部件及組裝業務
+在市場化佈局方面,二零二二年一月,比亞迪半導
+體分拆上市申請成功過會,上市進程穩步推進中。
+後續,本集團將着手培育更多具有市場競爭力的業
+務,實現市場化運營,進一步釋放各業務的發展潛
+力,提升本集團整體價值。同時,本集團將結合自
+身業務特點,持續通過戰略投資在產業鏈上下游核
+心領域進行佈局,與產業鏈上下游合作夥伴相互賦
+能,助力本集團市場化進程。
+In_2022,the demand for replacement of 5G smart phones in
+mature overseas markets and natural growth in emerging countries
+will be the main impetus for the smart phone market growth,
+however, the continuous shortage of components and logistics
+delays may dampen global production growth of smart phones.
+As a global leader in terms of smart phones and other smart
+terminals, the Group is expected to benefit from the rebounding
+industry boom, to further drive its business scale growth, while its
+profound technology know-how will provide a sustainable driver
+for the long-term growth potential. The Group will closely align
+with the development needs of its customers and actively expand
+the market share of its components and assembly business. While
+maintaining its leading position in the Android field, the Group will
+continue to go deep into the core product business opportunities
+from major customers in North America and strive to explore more
+new businesses to further consolidate its position as a major
+supplier. With the continuous increase of core products from
+major customers in North America, the business scale will expand
+significantly, laying a solid foundation for the explosive revenue
+growth in the future.
+Handset Components and Assembly Business
+In terms of marketization strategy, BYD Semiconductor's
+application for spin-off was approved in January 2022, and the
+listing process is steadily advancing. Subsequently, the Group
+will incubate more businesses with market competitiveness and
+realize marketization operation, to further release the development
+potential of each business, and enhance the overall value of
+the Group. At the same time, combined with its own business
+characteristics, the Group will continue to develop in the core
+areas of the upstream and downstream of the industrial chain
+through strategic investment, empower each other, and help to
+accelerate Group's marketization process.
+Management Discussion and Analysis
+管理層討論與分析
+Annual Report 2021
+二零二一年年報
+對外合作方面,本集團攜手美國科創公司聯合研發
+設計的第三代純電動無人駕駛配送車,實現產品革
+新,為美國當地消費者提供更安全、更智慧、更環
+保的物流配送服務。汽車智能化已成為新能源汽車
+競爭的下半場,本集團將持續加大汽車智能化的開
+拓力度,從感知,決策,執行三方面,積極探索與
+國際間不同專業領域夥伴進行合作,融合科技創新
+的強大勢能,共建智能汽車產業生態,推動汽車行
+業智能化發展走上快車道。
+在城市軌道交通領域,作為綠色夢想的堅定實踐者
+和引領者,以解決社會問題為導向,以技術創新為
+驅動,本集團著力推廣低碳環保的城市軌道交通產
+品—「雲軌」及「雲巴」,為城市發展提供多元化的綠
+色整體解決方案的同時,大大地拓展了城市軌道交
+通領域的市場空間。
+純電動大巴領域,本集團將持續踐行綠色使命,以
+全球領先的新能源技術、成熟的商業化運營,向全
+球多個國家和地區提供優質新能源公共交通產品及
+服務,繼續推出受客戶認可的零排放公共交通解決
+方案,助力全球綠色出行體系的進一步建設。
+Management Discussion and Analysis
+管理層討論與分析
+In terms of battery electric buses, the Group will continue to fulfill
+its mission of green development. By leveraging on its world-
+leading new energy technology and mature commercial operation
+practice, the Group will provide premium new energy public
+transportation products and services to the countries and regions
+around the world, continue to deliver customer-proven, zero-
+emission public transportation solutions, and hence, facilitate the
+further establishment of green transportation system globally.
+26
+BYD Company Limited
+In terms of external cooperation, the Group jointly developed and
+designed the third-generation battery electric autonomous delivery
+vehicle with an American science and technology corporation to
+achieve product innovation, hence, provide safer, smarter and
+more eco-friendly logistics and distribution services for local
+consumers in the United States. Intellectualization has become
+the main focus of the competition for new energy vehicles in the
+future, the Group will constantly enlarge efforts on research and
+development accordingly. From the perspectives of perception,
+decision-making and execution, BYD will actively explore
+cooperation with international partners in different professional
+fields, integrating the power of scientific and technological
+innovation to jointly build the intelligent automobile industry
+ecology and accelerate the intellectualization of the automobile
+industry.
+海外乘用車方面,「元PLUS」車型在國內正式上市的
+同時,亦同步在澳大利亞上市並開啟預售,命名為
+「ATTO 3」,繼續加碼本集團新能源乘用車在全球範
+圍內的佈局。此外,隨着汽車電動化進程的不斷推
+進,行業逐步向智能化、網聯化發展,軟件定義汽
+車成為新的趨勢。本集團不斷鞏固電動化發展優勢
+的同時並積極探索智能化,把電動化變革中的思考
+引入到智能化創新中,為消費者提供更豐富便捷的
+用車體驗。
+汽車業務
+25
+本集團將積極把握新能源汽車行業歷史性的發展機
+遇,堅持技術創新,加強核心技術的自主可控;聚
+焦市場安全痛點,推動行業進入高質量發展新階
+段;積極探索智能化,為消費者提供更豐富便捷的
+用車體驗;加大產能擴充力度,以滿足快速爆發的
+市場。此外,本集團將繼續以市場為導向,以顧客
+為中心,持續提升產品質量和服務意識,並不斷推
+出具有市場競爭力的產品,穩步提升品牌影響力,
+肩負起中國新能源汽車品牌向上發展的責任與使命。
+In the passenger vehicle sector, the Group will speed up new
+product introduction, continuously improve the product matrix of
+new energy vehicles to meet the multi-dimensional demand of
+consumers. The Group will also rely on multi-channel platforms
+such as the website of “Dynasty” and “Marine" to provide
+consumers with higher quality products and services. In terms
+of plug-in hybrid, “Song MAX DM-i”,“Destroyer 05" and other
+models adopting "DM-i super hybrid” technology were launched
+one after another. In terms of battery electric, upon the launch of
+“Dolphin”,the “Yuan plus”model adopting the “e-Platform 3.0”
+was launched in February 2022, and more models adopting the
+e-Platform 3.0 will be launched on the “Dynasty” and “Marine”
+distribution channels later. Facing with the situation of consumer
+demand outrunning the supply, the Group will continue to increase
+its production capacity to meet the booming market demand.
+The Group will actively seize historic developing opportunities
+in the new energy vehicle industry by insisting on technological
+innovation and strengthening the independency and controllability
+of core technologies. The Group will focus on the pain points
+of consumers' safety concerns, driving the industry to enter
+a new stage of high-quality development. Meanwhile, the
+Group will actively explore the growing potential of intelligent
+connected vehicles, providing customers with more diversified
+and convenient experience on automobiles. Also, the Group will
+improve the production capacity to meet the rapidly growing
+demands from consumers. In addition, the Group will insist on the
+market-oriented and customer-centric approach to continuously
+improve product quality, polish service standard, and keep
+launching products with market competitiveness to steadily
+enhance its brand influence. So then, can the Group shoulder the
+responsibility and mission of driving the upward development of
+Chinese new energy vehicle brands.
+Automobiles Business
+Management Discussion and Analysis
+Annual Report 2021
+二零二一年年報
+展望二零二二年,中國經濟面臨需求收缩、供給衝
+擊和預期轉弱的三重壓力,疊加疫情多點散發、國
+際大宗商品價格高位波動、地緣政治衝突等不確定
+因素,經濟形勢依舊複雜。但中國經濟韌性強,在
+宏觀經濟政策再定位、協調體系再調整以及「十四
+五」規劃全面落實等因素的作用下,宏觀經濟下行
+壓力將得到極大的緩解,長期向好的基本面不會改
+變。根據中央經濟工作會議要求,「穩字當頭、穩中
+求進」將是貫穿全年的主旋律,助力經濟逐步從外需
+拉動向內需驅動轉換,從而對汽車消費起到良好的
+支撐作用。發展新能源汽車是我國從汽車大國邁向
+汽車強國的必由之路,也是應對氣候變化、推動綠
+色發展的重要戰略舉措,在「雙碳」目標的指引下,
+政府持續出台系列支持政策,三月,財政部提請十
+三屆全國人大五次會議審查《關於2021年中央和地
+方預算執行情況與2022年中央和地方預算草案的報
+告》中指出支持充電樁等配套設施建設,促進新能源
+汽車消費,以推動新能源汽車產業的高質量發展。
+前景及策略
+二次充電電池方面,本集團多年深耕,技術規模國
+內領先,年內產品研發及產能拓展順利,電池技術
+加速升級,持續推動業務穩步增長。光伏業務方
+面,背靠「雙碳」目標的強大政策支持,本集團積極
+整合業務,加速新技術佈局,進一步強化產品競爭
+力,為行業的快速發展做好準備。
+二次充電電池及光伏業務
+For the future development in 2022, China is facing triple pressure
+of shrinking demand, supply shocks and weakening expectations,
+exacerbated by uncertainties brought by recurrent pandemic in
+several places, high level fluctuations in international commodity
+prices and geopolitical conflicts, leading to a complicated
+economic situation. However, given the strong resilience of
+China's economy, together with the influence of repositioning of
+macroeconomic policies, the readjustment of the coordination
+system and the full implementation of the “14th Five-Year Plan”,
+the macroeconomic downward pressure will be greatly eased.
+Therefore, China's bright long-term prospects is firmly unchanged.
+As required by the Central Economic Work Conference, "make
+economic stability our top priority and pursue progress while
+ensuring stability" will be the main theme throughout the year,
+pave the way for economy to transform from external demand
+driven to domestic demand driven, so as to provide strong support
+for automobile consumption. Developing new energy vehicles
+is the only way for China to upgrade from a large automobile
+country to a powerful automobile country. It is also an important
+strategic measure to deal with climate change and promote
+green development. Guided by the goal of “Dual-Carbon", the
+government continued to introduce a series of support policies.
+In March, according to the Report on the Execution of the Central
+and Local Budgets for 2021 and on the Draft Central and Local
+Budgets for 2022 submitted by the Ministry of Finance to the
+fifth meeting of the 13th National People's Congress for review,
+support is given to the construction of charging piles and other
+ancillary facilities to promote the consumption of new energy
+vehicles, so as to promote the high-quality development of the
+new energy vehicle industry.
+PROSPECT AND STRATEGY
+The Group has accumulated profound experiences in
+rechargeable batteries with leading technical strength
+domestically. During the year, product research and development
+and production capacity expansion went smoothly, and the
+battery technology was upgraded at an accelerated pace,
+which continued to promote steady business growth. In terms
+of photovoltaics business, backed by the strong policy support
+of the “Dual-Carbon”target,the Group actively integrated its
+business, accelerated the development of the new technology,
+further strengthened the product competitiveness, preparing for
+the rapid development of the industry.
+管理層討論與分析
+管理層討論與分析
+在乘用車領域,本集團將加速推陳出新,不斷完善
+新能源汽車產品矩陣以滿足消費者多維度的消費需
+求。並將依託「王朝網」及「海洋網」等多渠道平台,
+為消費者提供更優質的產品及服務。插電式混動方
+面,「宋MAX DM-i」、「驅逐艦05」等搭載「DM-i超
+級混動」技術的車型相繼上市。純電動方面,繼「海
+豚」之後,搭載「e平台3.0」的「元plus」車型已於二
+零二二年二月上市,後續將有更多搭載「e平台3.0」
+的車型在「王朝網」和「海洋網」推出。面對供不應求
+的市場環境,本集團將持續加大產能擴充力度,以
+滿足火爆的市場需求。
+Rechargeable Batteries and Photovoltaic Business
+管理層討論與分析
+In terms of overseas passenger vehicles, the "Yuan PLUS"
+model, named “ATTO 3” in overseas markets, was also launched
+and pre-sold in Australia simultaneously since the official
+launch domestically, continuing to enhance the Group's global
+expansion of new energy passenger vehicles. In addition, with
+the non-stopping evolution of vehicle electrification, the product
+tends to become more intelligent and networked, and software-
+defined vehicles have become a new trend. The Group actively
+explores intelligence-oriented development while consolidating
+its advantages in electrification, introduces the contemplation of
+electric transformation to the intelligent innovation, provides the
+customers with more diversified and convenient experience on
+automobiles.
+The Group is a global leader in smart phones and other smart
+terminals, providing world famous customers with the development
+of new materials, product design and development, components
+and machine manufacturing, supply chain management, logistics
+and after-sales service and other one-stop services. The Group
+provides a wide range of services covering many segments, such
+as smart phones, smart wearables, computers, Internet of Things,
+smart homes, game hardware, robots, drones, communication
+equipment, electronic atomizers, automotive intelligent systems,
+medical and health equipment, etc. Leveraging on the industry-
+leading research and development strength, the accumulation of
+rapid large-scale production and customer advantages, as well as
+the diversified product portfolio, the Group's business continued
+to show a steady development trend.
+During the year, while focusing on enhancing core business, the
+Group also adhered to a diversified business layout, continuously
+I worked on new business fields, increased its product share and
+injected new growing momentum into its business development.
+The Group's market share in large Android customers continued
+to increase, and it is strengthening efforts in exploring business
+with key customers in North America, creating a powerful engine
+for revenue growth. The new smart product sector has developed
+rapidly and robustly, nonetheless, the Group is dedicated
+to increase its product variety. Shipments of smart homes,
+game hardware, drones and other products have increased
+continuously, driving revenue to a high-speed growth track.
+Development of electronic atomization products are progressing
+smoothly, breaking through key technical barriers and opening
+up a new growth channel for the Group. Thanks to the prosperity
+of new energy vehicle industry, the Group's shipments of the
+automobile intelligent system products experienced a significant
+growth. The Group actively increased investment in the R&D of
+automotive intelligent systems and increased product chain as a
+new growth driver. Despite the shortage of chips in the industry
+and weak domestic demand, sales of the Group achieved rapid
+growth.
+Handset Components and Assembly Business
+本集團是全球領先的智能手機及其他智能終端的領
+導者,為全球著名客戶提供新材料開發、產品設計
+與研發、零組件及整機製造、供應鏈管理、物流及
+售後等一站式服務。集團業務多元化,涵蓋多個領
+域,包括智能手機、智能穿戴、計算機、物聯網、
+智能家居、遊戲硬件、機器人、無人機、通信設
+備、電子霧化、汽車智能系統、醫療健康設備等。
+依託於業界領先的研發實力、積累快速規模化生產
+及客戶優勢,以及多元的產品組合,本集團業務持
+續呈現穩步發展態勢。
+年內,本集團聚焦提升核心業務的同時,亦堅持多
+元化佈局,不斷導入新的業務領域,產品份額持續
+提升,並為業務發展持續注入新動能。集團於安卓
+大客戶的業務份額持續提升,而於北美大客戶的業
+務佈局持續加強成為收入增長的強大引擎。新型智
+能產品板塊快速鋪開,致力擴張品類,業務蓬勃發
+展,其中智能家居、遊戲硬件、無人機等產品出貨
+量持續增長,帶動收入邁向高速增長軌道。電子霧
+化產品進展順利,突破關鍵技術壁壘,為本集團打
+開新增長曲線。受益於新能源汽車行業高景氣,本
+集團的汽車智能系統產品出貨量大幅增長,並積極
+加大汽車智能系統的研發投入及增加產品鏈,成為
+新興成長動能。儘管在行業芯片短缺及內需疲軟的
+大環境下,本集團的銷售規模仍實現高速增長。
+23
+BYD Company Limited
+24
+比亞迪股份有限公司
+手機部件及組裝業務
+人民幣千元
+RMB'000
+人民幣千元
+人民幣千元
+RMB'000
+總計
+RMB'000
+RMB'000
+(第三級)
+重大可觀察
+(第一級)
+的輸入值
+的輸入值
+重大不可觀察
+活躍市場
+的報價
+Total
+(Level 3)
+人民幣千元
+(第二級)
+During the year, there were no transfers of fair value
+measurements between Level 1 and Level 2 (2020: Nil).
+49.
+57,541
+Quoted prices
+Long-term receivables
+As at 31 December 2021
+Assets for which fair values are disclosed:
+Fair value hierarchy (continued)
+金融工具之公允價值及公允價值層級
+(續)
+49. FAIR VALUE AND FAIR VALUE HIERARCHY OF
+FINANCIAL INSTRUMENTS (CONTINUED)
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+比亞迪股份有限公司
+294
+BYD Company Limited
+年內,第一級及第二級之間並無公允價值計
+量轉撥(二零二零年:無)。
+93,720
+57,541
+36,179
+93,720
+36,179
+(Level 2)
+markets
+(Level 1)
+inputs
+inputs
+inputs
+Unobservable
+Observable
+Significant
+Significant
+Fair value measurement using
+公允價值計量使用的輸入值
+於二零二一年十二月三十一日
+以公允價值計量的負債:
+公允價值層級(續)
+markets
+in active
+Quoted prices
+As at 31 December 2020
+Other liabilities
+As at 31 December 2021
+Liabilities measured at fair value:
+100,503
+31,784
+62,500
+194,787
+Annual Report 2021
+二零二一年年報
+293
+(Level 1)
+Notes to Financial Statements
+31 December 2021
+二零二一年十二月三十一日
+49.
+FAIR VALUE AND FAIR VALUE HIERARCHY OF 49.
+金融工具之公允價值及公允價值層級
+(續)
+FINANCIAL INSTRUMENTS (CONTINUED)
+Fair value hierarchy (continued)
+財務報表附註
+(Level 2)
+(Level 3)
+Total
+14,035
+Other liabilities
+其他負債
+Derivative financial instruments
+衍生金融工具
+於二零二零年十二月三十一日
+14,035
+Fair value measurement using
+Quoted prices
+Significant
+Significant
+in active
+Observable
+Unobservable
+公允價值計量使用的輸入值
+inputs
+其他負債
+人民幣千元
+活躍市場
+的報價
+重大可觀察
+重大不可觀察
+的輸入值
+的輸入值
+(第一級)
+人民幣千元
+(第二級)
+RMB'000
+RMB’000
+RMB'000
+總計
+RMB'000
+人民幣千元
+(第三級)
+人民幣千元
+(Level 3)
+已披露公允價值的資產:
+Significant
+Significant
+Quoted prices
+Fair value measurement using
+公允價值計量使用的輸入值
+於二零二一年十二月三十一日
+已披露公允價值的負債:
+公允價值層級(續)
+other borrowings
+計息銀行及其他借款
+Interest-bearing bank and
+其他負債
+Other liabilities
+As at 31 December 2020
+other borrowings
+in active
+計息銀行及其他借款
+其他負債
+Other liabilities
+As at 31 December 2021
+Liabilities for which fair values are disclosed:
+Fair value hierarchy (continued)
+FINANCIAL INSTRUMENTS (CONTINUED)
+金融工具之公允價值及公允價值層級
+(續)
+FAIR VALUE AND FAIR VALUE HIERARCHY OF 49.
+49.
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+Notes to Financial Statements
+295
+Annual Report 2021
+二零二一年年報
+Interest-bearing bank and
+observable
+unobservable
+markets
+Fair value measurement using
+公允價值計量使用的輸入值
+36,651,412
+33,729,304
+2,922,108
+於二零二零年十二月三十一日
+36,651,412
+33,729,304
+2,922,108
+人民幣千元
+人民幣千元
+人民幣千元
+人民幣千元
+RMB'000
+總計
+RMB'000
+(第三級)
+RMB'000
+inputs
+inputs
+(Level 1)
+(Level 2)
+(Level 3)
+Total
+1,804,913
+活躍市場
+的報價
+重大不可觀察
+的輸入值
+的輸入值
+(第一級)
+(第二級)
+RMB'000
+重大可觀察
+1,804,913
+長期應收賬款
+Long-term receivables
+人民幣千元
+人民幣千元
+人民幣千元
+人民幣千元
+RMB'000
+總計
+RMB'000
+RMB’000
+RMB'000
+(第三級)
+(第二級)
+(第一級)
+的輸入值
+的輸入值
+重大不可觀察
+重大可觀察
+活躍市場
+的報價
+於二零二一年十二月三十一日
+Fair value measurement using
+公允價值計量使用的輸入值
+Significant
+Significant
+in active
+observable
+長期應收賬款
+unobservable
+inputs
+inputs
+(Level 1)
+(Level 2)
+二零二一年
+RMB’000
+人民幣千元
+Total
+markets
+公允價值層級(續)
+1,168,475
+As at 31 December 2020
+人民幣千元
+人民幣千元
+人民幣千元
+人民幣千元
+RMB'000
+總計
+RMB'000
+(第三級)
+RMB'000
+RMB'000
+(第二級)
+(第一級)
+的輸入值
+的輸入值
+重大不可觀察
+重大可觀察
+Total
+Quoted prices
+in active
+於二零二零年十二月三十一日
+Fair value measurement using
+公允價值計量使用的輸入值
+Significant
+1,168,475
+observable
+unobservable
+markets
+(Level 1)
+活躍市場
+的報價
+inputs
+inputs
+(Level 2)
+(Level 3)
+Significant
+2021
+31 December 2021
+二零二一年十二月三十一日
+At 31 December
+(第一級)
+的輸入值
+的輸入值
+重大不可觀察
+重大可觀察
+活躍市場
+的報價
+Total
+(Level 3)
+(Level 2)
+inputs
+inputs
+markets
+(Level 1)
+unobservable
+observable
+in active
+Significant
+Significant
+Quoted prices
+Fair value measurement using
+公允價值計量使用的輸入值
+於二零二零年十二月三十一日
+按公允價值計量的資產:(續)
+公允價值層級(續)
+As at 31 December 2020
+Assets measured at fair value: (continued)
+Fair value hierarchy (continued)
+FINANCIAL INSTRUMENTS (CONTINUED)
+金融工具之公允價值及公允價值層級
+(續)
+(第二級)
+(第三級)
+RMB'000
+RMB'000
+10,568,128
+1,434,673
+24
+24
+衍生金融工具
+Derivative financial instruments
+8,862,340
+8,862,340
+應收款項融資
+Receivables financing
+1,720,357
+1,705,764
+14,593
+FAIR VALUE AND FAIR VALUE HIERARCHY OF 49.
+以公允價值計量並計入損益的
+金融資產
+Financial assets at fair value through
+1,420,080
+1,420,080
+以公允價值計量並計入其他
+綜合收益的權益投資
+other comprehensive income
+Equity investments at fair value through
+人民幣千元
+人民幣千元
+人民幣千元
+人民幣千元
+RMB'000
+總計
+RMB'000
+profit or loss
+49.
+31 December 2021
+二零二一年十二月三十一日
+財務報表附註
+RMB'000
+(第三級)
+RMB'000
+RMB'000
+(第二級)
+(第一級)
+的輸入值
+的輸入值
+重大不可觀察
+重大可觀察
+活躍市場
+的報價
+Total
+(Level 3)
+總計
+(Level 2)
+inputs
+inputs
+unobservable
+observable
+Significant
+Significant
+Fair value measurement using
+公允價值計量使用的輸入值
+於二零二一年十二月三十一日
+按公允價值計量的資產:
+markets
+in active
+Quoted prices
+As at 31 December 2021
+(Level 1)
+12,002,801
+RMB'000
+人民幣千元
+Notes to Financial Statements
+291
+Annual Report 2021
+二零二一年年報
+19,074,717
+998,174
+16,853,328
+1,223,215
+31,600
+8,743,126
+8,743,126
+31,600
+衍生金融工具
+Derivative financial instruments
+應收款項融資
+人民幣千元
+Receivables financing
+194,787
+7,176,953
+14,415
+以公允價值計量並計入損益的
+金融資產
+Financial assets at fair value through
+profit or loss
+2,913,836
+803,387
+901,649
+1,208,800
+以公允價值計量並計入其他
+綜合收益的權益投資
+Equity investments at fair value through
+other comprehensive income
+人民幣千元
+人民幣千元
+7,386,155
+於十二月三十一日
+BYD Company Limited
+比亞迪股份有限公司
+The Group enters into derivative financial instruments with
+various counterparties. The carrying amounts of these
+derivative financial instruments are the same as their fair
+values. The derivative financial instruments are measured
+using valuation techniques similar to forward pricing,
+using present value calculations. The models incorporate
+various market observable inputs including the credit
+quality of counterparties and foreign exchange spot and
+forward rates. The carrying amounts of derivative financial
+instruments are the same as their fair values.
+For the fair value of the unlisted equity investments at fair
+value through other comprehensive income, management
+has estimated the potential effect of using reasonably
+possible alternatives as inputs to the valuation model.
+Below is a summary of significant unobservable inputs
+to the valuation of financial instruments together with a
+quantitative sensitivity analysis as at 31 December 2021:
+Fair value
+本集團與若干對手方訂立衍生金融工具。該
+等衍生金融工具的賬面值與其公允價值相
+同。衍生金融工具以與遠期定價類似之估值
+方法及現時價值計算而計量。該等模式包括
+若干市場可觀察輸入值,包括對手方之信用
+質素、外匯即期及遠期利率。該等衍生金融
+工具的賬面值與其公允價值相同。
+對於以公允價值計量並計入其他綜合收益的
+非上市權益投資的公允價值,管理層已估計
+將合理可能的替��數據用作估值模型的輸入
+數據所帶來的潛在影響。
+以下為於二零二一年十二月三十一日金融工
+具估值之重大不可觀察輸入數據連同定量敏
+感度之分析概要:
+as at
+Valuation
+31 December
+technique
+於二零二一年
+十二月三十一日
+2021 Significant unobservable inputs
+Relationship of
+unobservable input
+to fair value
+不可觀察
+輸入數據與
+估值技術
+的公允價值 重大不可觀察輸入數據
+公允價值的關係
+Valuation multiples
+估值倍數
+759,705 Average Enterprise value/revenue ratio
+平均企業價值/收入比率
+Equity investments at fair
+49.
+FAIR VALUE AND FAIR VALUE HIERARCHY OF
+FINANCIAL INSTRUMENTS (CONTINUED)
+49.
+財務報表附註
+購買
+於損益表確認計入其他收益的收益總額
+轉入第三級
+於一月一日
+profit or loss included in other income
+Purchases
+Total gains recognised in the statement of
+Transfer to Level 3
+At 1 January
+803,387
+於十二月三十一日
+At 31 December
+188,040
+購買
+value through other
+profit or loss included in other income
+Purchases
+於損益表確認計入其他收益的收益總額
+Total gains recognised in the statement of
+以公允價值計量並計入其他綜合收益的
+權益投資
+other comprehensive income
+Equity investments at fair value through
+2021
+二零二一年
+RMB'000
+人民幣千元
+年內第3級公允價值計量變動如下:
+按公允價值計量的資產:(續)
+公允價值層級(續)
+Quoted prices
+Annual Report 2021
+二零二一年年報
+289
+Notes to Financial Statements
+615,347
+comprehensive income
+以公允價值計量並計入其他綜合
+收益的權益投資
+越高,公允價值越高
+BYD Company Limited
+290
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+49. FAIR VALUE AND FAIR VALUE HIERARCHY OF
+FINANCIAL INSTRUMENTS (CONTINUED)
+49.
+金融工具之公允價值及公允價值層級
+(續)
+Fair value hierarchy
+The following tables illustrate the fair value measurement
+相關投資的淨值
+hierarchy of the Group's and the Company's financial
+instruments:
+公允價值層級
+下表說明本集團及本公司金融工具之公允價
+值計量層級:
+The movements in fair value measurements within Level 3
+during the year are as follows:
+Assets measured at fair value: (continued)
+Fair value hierarchy (continued)
+金融工具之公允價值及公允價值層級
+(續)
+49.
+49. FAIR VALUE AND FAIR VALUE HIERARCHY OF
+FINANCIAL INSTRUMENTS (CONTINUED)
+二零二一年十二月三十一日
+31 December 2021
+財務報表附註
+Notes to Financial Statements
+Assets measured at fair value:
+292
+value
+underlying investment
+Equity investments at fair
+Option pricing model
+期權定價模型
+以公允價值計量並計入其他綜合
+收益的權益投資
+value through other
+comprehensive income
+Financial assets at fair value Net Value Model
+through profit or loss
+以公允價值計量並計入損益的金
+融資產
+淨值模型
+33,257 Exercise price and volatility of the
+underlying investment
+the higher the fair
+相關投資的行使價及波動
+相關投資的淨值
+The higher the ratio,
+the higher the fair
+value
+比率越高,
+公允價值越高
+The higher the
+fair value of the
+underlying equity
+instruments,the
+higher the fair value
+相關權益工具的
+公允價值越高,
+公允價值越高
+The higher the
+net value of the
+194,787 Net value of the underlying investment
+in active
+金融工具之公允價值及公允價值層級
+(續)
+observable
+外匯風險
+本集團面臨交易性的貨幣風險。此類風險由
+經營單位進行以其功能貨幣以外的貨幣記賬
+的銷售或購買活動所致,而收入主要是以美
+元及人民幣計值而若干銀行貸款則以美元計
+值。本集團對其外幣收入及支出進行週而復
+始的預測,使匯率及所產生的金額配比,從
+而減低外幣匯率浮動對商業交易的影響。
+BYD Company Limited
+298
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+The Group has transactional currency exposures. Such
+exposures arise from sales or purchases by operating units
+in currencies other than the units' functional currencies,
+where the revenue is predominately denominated in
+US$ and RMB and a certain portion of the bank loans is
+denominated in US$. The Group takes rolling forecast
+on foreign currency revenue and expenses and matches
+the currency and amounts incurred, so as to alleviate the
+impact on business due to exchange rate fluctuations.
+二零二一年十二月三十一日
+FINANCIAL RISK MANAGEMENT OBJECTIVES
+AND POLICIES (CONTINUED)
+50.
+財務風險管理目標及政策(續)
+Foreign currency risk (continued)
+The following table demonstrates the sensitivity at the end
+of the reporting period to a reasonably possible change
+in the US$ exchange rate, with all other variables held
+constant, of the Group's profit before tax (due to changes
+in the fair value of monetary assets and liabilities) and the
+Group's equity.
+外匯風險(續)
+下表說明本集團的除稅前溢利(由於貨幣資
+產及負債公允價值變動)及本集團權益於報
+告期末對美元的匯率(其他所有的變量保持
+不變)合理可能的變動的敏感度。
+Increase/
+50.
+(decrease)
+Foreign currency risk
+19,027
+Increase/
+(decrease)
+in equity*
+權益*的
+增加/減少)
+RMB'000
+人民幣千元
+RMB’000
+人民幣千元
+25
+不包括留存溢利及外匯波動儲備
+(31,227)
+(25)
+31,227
+31,227
+25
+(19,027)
+(19,027)
+(25)
+19,027
+(31,227)
+Increase/
+(decrease)
+in profit
+5
+288,207
+288,207
+If RMB strengthens against US$
+倘人民幣兌美元升值
+(5)
+(288,207)
+(288,207)
+倘人民幣兌美元貶值
+Excluding retained profits and exchange fluctuation
+reserve
+Credit risk
+The Group trades only with recognised and creditworthy
+third parties. It is the Group's policy that all customers
+who wish to trade on credit terms are subject to credit
+verification procedures. In addition, receivable balances
+are monitored on an ongoing basis and the Group's
+exposure to bad debts is not significant.
+信貸風險
+本集團僅與認可及信譽超著的第三方進行買
+賣。本集團的政策為對所有有意以信貸期交
+易的客戶進行信貸審核程序。此外,應收賬
+款結餘持續受監察,而本集團壞賬的風險並
+不重大。
+不包括留存溢利及外匯波動儲備
+If RMB weakens against US$
+二零二零年
+2020
+Increase/
+(decrease)
+in owners'
+in US$ rate
+美元匯率
+增加/(減少)
+%
+before tax
+除稅前溢利
+增加/減少)
+equity*
+所有者權益*的
+增加/(減少)
+RMB'000
+人民幣千元
+RMB’000
+人民幣千元
+2021
+If RMB weakens against US$
+二零二一年
+倘人民幣兌美元貶值
+5
+If RMB strengthens against US$
+倘人民幣兌美元升值
+(5)
+220,825
+(220,825)
+220,825
+(220,825)
+before tax
+除稅前溢利的
+增加/(減少)
+basis points
+基點的
+增加/(減少)
+markets
+(decrease)
+人民幣千元
+人民幣千元
+2,964,968
+51,270,597
+2,964,968
+51,270,597
+54,235,565
+54,235,565
+人民幣千元
+BYD Company Limited
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+50.
+FINANCIAL RISK MANAGEMENT OBJECTIVES
+50.
+296
+人民幣千元
+RMB'000
+總計
+in profit
+Significant
+Significant
+unobservable
+inputs
+inputs
+(Level 1)
+活躍市場
+的報價
+(Level 2)
+(Level 3)
+Total
+重大可觀察
+重大不可觀察
+的輸入值
+(第一級)
+(第二級)
+RMB'000
+RMB'000
+(第三級)
+RMB'000
+財務風險管理目標及政策
+AND POLICIES
+的輸入值
+The main risks arising from the Group's financial
+instruments are interest rate risk, foreign currency risk,
+credit risk and liquidity risk. The Group's accounting
+policies in relation to derivative financial instruments are
+set out in note 2.4 to the consolidated financial statements.
+下表列示在所有其他變數維持不變的情況
+下,本集團的除稅前溢利(透過對浮息借款
+的影響)及本集團的權益對利率出現合理可
+能變動時的敏感度。
+2021
+二零二一年
+RMB
+人民幣
+RMB
+人民幣
+2020
+利率風險(續)
+RMB
+人民幣
+人民幣
+Excluding retained profits and exchange fluctuation
+reserve
+Increase/
+(decrease) in
+The Group's principal financial instruments, other than
+derivative financial instruments, comprise interest-bearing
+bank and other borrowings, restricted bank deposits,
+pledged deposits and cash and cash equivalents. The
+main purpose of these financial instruments is to raise
+finance for the Group's operations. The Group has
+various other financial assets and liabilities such as trade
+receivables and trade payables, which arise directly from
+its operations.
+Increase/
+RMB
+The following table demonstrates the sensitivity to a
+reasonably possible change in interest rate, with all other
+variables held constant, of the Group's profit before tax
+(through the impact on floating rate borrowings) and the
+Group's equity.
+二零二零年
+AND POLICIES (CONTINUED)
+本集團金融工具所產生的主要風險為利率風
+險、外匯風險、信貸風險及流動資金風險。
+本集團有關衍生金融工具的會計政策載於合
+併財務報表附註2.4。
+Interest rate risk (continued)
+本集團的主要金融工具(衍生金融工具除
+外)包括計息銀行及其他借款、受限制銀行
+存款、已抵押存款以及現金及現金等價物。
+此等金融工具的主要用途乃為本集團的業務
+籌集資金。本集團有其他不同金融資產及負
+債,如直接自其業務產生的應收貿易賬款及
+應付貿易賬款。
+Interest rate risk
+The Group's exposure to the risk of changes in market
+interest rates relates primarily to the Group's long-term
+debt obligations with floating interest rates.
+The Group's policy is to manage its interest cost using a
+mix of fixed and variable rate debts. At 31 December 2021,
+approximately 58%(2020:56%) of the Group's interest-
+rates.
+利率風險
+本集團面對的市場利率變動風險主要與本集
+團的浮息長期債務責任有關。
+本集團的政策是利用定息及浮息債務組合管
+理其利息成本。於二零二一年十二月三十一
+日,本集團約58%(二零二零年:56%)的計
+息銀行及其他借款乃以定息計息。
+bearing bank and other borrowings bore interest at fixed
+297
+Notes to Financial Statements
+財務風險管理目標及政策(續)
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+50.
+FINANCIAL RISK MANAGEMENT OBJECTIVES
+Annual Report 2021
+二零二一年年報
+50.
+應付其他關聯方款項
+Due to other related parties
+應付合營公司款項
+Due to joint ventures
+79,043,879
+34,755,140
+910,708
+14,724,317 11,130,400
+781,617
+1,636,828
+84,150
+8,900,423
+74,484
+60,286,363
+219,049
+18,097,661
+1,985,858
+1,636,828
+other payables and accruals
+Other liabilities
+84,150
+Financial liabilities included in
+計入其他應付款項及應計費用的
+1,150,906 29,104,305
+10,819,660
+-
+41,074,871
+金融負債
+其他負債
+2,922,108
+14,035 2,936,143
+659,855
+1,810,761 100,086,553 43,860,687 14,834,125
+-
+應付貿易賬款及票據
+二零二一年
+租賃負債
+Financial guarantees issued
+Liquidity risk (continued)
+流動資金風險(續)
+The maturity profile of the Group's financial liabilities as at
+the end of the reporting period, based on the contractual
+undiscounted payments, is as follows:
+本集團於報告期末根據合同未折現付款的金
+融負債將於以下期間到期:
+Financial liabilities
+金融負債
+2021
+3 top
+Less than
+less than
+Trade and bills payables
+On demand
+12 months
+1 to 5 years Over 5 years
+三至
+Total
+按要求
+RMB'000
+人民幣千元
+三個月以下
+RMB'000
+人民幣千元
+十二個月以下
+RMB'000
+人民幣千元
+一至五年
+RMB'000
+人民幣千元
+五年以上
+RMB'000
+人民幣千元
+總計
+RMB'000
+人民幣千元
+Interest-bearing bank and other borrowings 計息銀行及其他借款
+Lease liabilities
+3 months
+發出財務擔保
+租賃負債
+擔保的最高金額
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+五年以上
+RMB'000
+人民幣千元
+總計
+RMB'000
+人民幣千元
+Interest-bearing bank and other borrowings 計息銀行及其他借款
+Lease liabilities
+財務風險管理目標及政策(續)
+Trade and bills payables
+應付貿易賬款及票據
+603,992
+5,168,093
+53,950
+39,300,146
+143,191
+9,887,490
+24,080,562 26,020,717
+459,036
+294,173 55,563,545
+681,299 1,337,476
+49,791,628
+Due to joint ventures
+應付合營公司款項
+2,398,177
+2,398,177
+Due to other related parties
+應付其他關聯方款項
+137,566
+137,566
+Financial liabilities included in
+人民幣千元
+一至五年
+十二個月以下
+三個月以下
+RMB'000
+6,409,637
+924,743 161,516,869
+6,409,637
+Annual Report 2021
+二零二一年年報
+303
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+50.
+FINANCIAL RISK MANAGEMENT OBJECTIVES 50.
+財務風險管理目標及政策(續)
+AND POLICIES (CONTINUED)
+Liquidity risk (continued)
+Maximum amount guaranteed
+Financial liabilities (continued)
+金融負債(續)
+2020
+二零二零年
+3 top
+Less than
+less than
+On demand
+3 months
+12 months
+1 to 5 years Over 5 years
+Total
+三至
+按要求
+RMB'000
+人民幣千元
+流動資金風險(續)
+50.
+277,491
+50.
+人民幣千元
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+人民幣千元
+Long-term receivables
+長期應收賬款
+1,878,736
+1,878,736
+Contract assets
+合同資產
+5,635,217
+5,635,217
+Trade receivables*
+應收貿易賬款*
+1,578,142
+39,896,701
+41,474,843
+Receivables financing
+應收款項融資
+8,944,313
+8,944,313
+Financial assets included in prepayments,
+計入預付款項、其他應收賬款及
+other receivables and other assets
+其他資產的金融資產
+- Normal**
+- 正常**
+人民幣千元
+RMB'000
+RMB'000
+總計
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+50.
+FINANCIAL RISK MANAGEMENT OBJECTIVES
+50.
+財務風險管理目標及政策(續)
+AND POLICIES (CONTINUED)
+Credit risk (continued)
+Maximum exposure and year-end staging
+As at 31 December 2020
+信貸風險(續)
+最大敞口及年終階段
+485,525
+於二零二零年十二月三十一日
+Lifetime ECLs
+12個月
+預期信貸虧損
+年限內預期信貸虧損
+Simplified
+Stage 1
+Stage 2
+Stage 3
+階段1
+階段2
+階段3
+approach
+簡化法
+Total
+12-month ECLs
+485,525
+- Doubtful**
+-呆賬**
+301
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+50.
+FINANCIAL RISK MANAGEMENT OBJECTIVES
+AND POLICIES (CONTINUED)
+50.
+財務風險管理目標及政策(續)
+*
+Credit risk (continued)
+For trade receivables, amounts due from joint ventures
+and associates and amounts due from other related
+parties to which the Group applies the simplified
+approach for impairment, information based on
+the provision matrix is disclosed in note 25 to the
+consolidated financial statements.
+The credit quality of financial assets included in
+prepayments, other receivables and other assets is
+considered to be "normal" when they are not past due
+and there is no information indicating that the financial
+assets had a significant increase in credit risk since
+initial recognition. Otherwise, the credit quality of the
+financial assets is considered to be "doubtful".
+Liquidity risk
+Annual Report 2021
+二零二一年年報
+The Group monitors its risk to funds shortage using a
+recurring liquidity planning tool. This tool considers the
+maturity of both its financial instruments and financial
+assets(e.g.,trade receivables) and projected cash flows
+from operations.
+信貸風險(續)
+就應收貿易賬款,本集團已應用簡化計
+算法減值的應收合營公司及聯營公司款
+項及應收其他關聯方款項而言,根據撥
+備矩陣計算的資料披露於合併財務報表
+附註25。
+計入預付款項、其他應收賬款及其他資
+產的金融資產的信貸質素,在尚未逾期
+及無資料指出金融資產自初步確認起的
+信貸風險顯著增加的情況下,被視為
+「正常」。除此之外,金融資產的信貸質
+素被視為「呆賬」。
+流動資金風險
+本集團透過採用經常性流動資金計劃工具,
+監察其資金短缺的風險。該工具考慮金融工
+具及金融資產(例如:應收貿易賬款)的到期
+日及來自經營業務的預期現金流量。
+本集團的目標為透過利用銀行借款、租賃負
+債及公司債券以維持資金延續性及靈活性的
+平衡。此外,本集團已安排銀行融資額以備
+不時之需。除計息銀行及其他借款、租賃負
+債及若干公司債券的非即期部分外,於報告
+期末之所有借款將於一年內到期。
+BYD Company Limited
+302
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+The Group's objective is to maintain a balance between
+continuity of funding and flexibility through the use of
+bank borrowings, lease liabilities and corporate bonds.
+In addition, banking facilities have been put in place for
+contingency purposes. Except for the non-current portion of
+interest-bearing bank and other borrowings, lease liabilities
+and certain corporate bonds, all borrowings would mature
+in less than one year at the end of the reporting period.
+FINANCIAL RISK MANAGEMENT OBJECTIVES
+AND POLICIES (CONTINUED)
+85,176,117
+1,672,758
+94,616
+94,616
+Due from joint ventures and associates*
+應收合營公司及聯營公司款項*
+3,573,678
+3,573,678
+Pledged deposits
+已抵押存款
+- Not yet past due
+-未逾期
+429,041
+Restricted bank deposits
+受限制銀行存款
+50,984,332
+277,491
+現金及現金等價物
+13,738,498
+429,041
+計入其他應付款項及應計費用
+13,738,498
+Exposure on guarantees to finance
+融資租賃公司擔保風險
+leasing companies
+- Not yet past due
+-未逾期
+8,644,159
+8,644,159
+32,519,027
+Cash and cash equivalents
+1,280,305
+31 December
+8,446,404
+Information about the statement of financial position of the
+Company at the end of the reporting period is as follows:
+有關本公司於報告期末之財務狀況表的資料
+載述如下:
+NON-CURRENT ASSETS
+非流動資產
+2021
+二零二一年
+RMB'000
+人民幣千元
+2020
+二零二零年
+RMB'000
+人民幣千元
+Property, plant and equipment
+物業、廠房及設備
+830,894
+900,530
+Investment properties
+投資物業
+55,559
+57,168
+Investments in subsidiaries
+於附屬公司的投資
+40,503,023
+18,183,382
+Investments in joint ventures
+於合營公司的投資
+3,495,039
+1,629,654
+Investments in associates
+於聯營公司的投資
+本公司之財務狀況表
+54.
+STATEMENT OF FINANCIAL POSITION OF THE
+COMPANY
+54.
+307
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+52. TRANSFERS OF FINANCIAL ASSETS
+(CONTINUED)
+52.
+金融資產轉移(續)
+53.
+Financial assets that are derecognised in their
+entirety (continued)
+In the ordinary course of business, the Group has
+factored a part of receivables to financial institutions
+without recourse for its short-term financing needs, and
+has entered into non-recourse receivables factoring
+agreements with a number of banks to transfer certain
+receivables to those banks (the “Factored Receivables").
+Under certain receivable factoring agreements, the Group
+is not required to undertake default risks and the delayed
+repayment risk from the debtors after the transfer of the
+Factored Receivables, and all risks and rewards relating
+to the Factored Receivables are transferred. The condition
+of derecognition of financial assets is met. Therefore,
+the Group derecognised the Factored Receivables at
+their carrying amounts. As at 31 December 2021,the
+carrying amount of transferred Factored Receivables
+amounted to RMB20,227,834,000(31 December 2020:
+RMB3,813,206,000), and the loss relating to derecognition
+amounted to RMB88,765,000(31 December 2020:
+RMB299,523,000).
+During the year ended 31 December 2021, the Group has
+an enforceable legal right to offset the recognised amounts
+of trade receivables and trade payables and the Group
+has an intention to settle on a net basis. The aggregate
+carrying amount of the trade receivables and trade
+payables offset was RMB5,044,477,000 as at 31 December
+2021 (31 December 2020: RMB3,017,666,000).
+完全撤銷確認的金融資產(續)
+本集團在日常業務中因短期融資需求將部分
+應收賬款以無追溯權方式保理給金融機構,
+並與多家銀行訂立無追溯權的應收賬款保理
+協議,將若干應收賬款轉讓予該等銀行(「應
+收賬款保理」)。在若干應收賬款保理協議
+下,本集團不需要承擔轉讓應收賬款保理後
+的債務人違約風險和延遲還款風險,轉移
+應收賬款保理相關之所有的風險和報酬。
+符合撤銷確認金融資產條件。因此,本集
+團對應收賬款保理按照賬面值撤銷確認。於
+二零二一年十二月三十一日,已轉讓的應收
+賬款保理賬面值為人民幣20,227,834,000
+元(二零二零年十二月三十一日:人民幣
+3,813,206,000元),與撤銷確認相關的虧損
+為人民幣88,765,000元(二零二零年十二月
+三十一日:人民幣299,523,000元)。
+565,804
+截至二零二一年十二月三十一日止年度,
+本集團具有可強制執行之法定權利可抵銷
+貿易應收款項及貿易應付款項之已確認金
+額,且本集團有意按淨額基準結算。於二
+零二一年十二月三十一日,應收貿易賬款
+及應付貿易賬款的抵銷總賬面值為人民幣
+5,044,477,000元(二零二零年十二月三十一
+日:人民幣3,017,666,000元)。
+53.
+報告期後事項
+The 2021 proposed profit distribution plan was approved at
+the 20th Meeting of the Seventh Session of the Board of the
+Company dated 29 March 2022. Based on the total share
+capital of 2,911,142,855 shares as at 29 March 2022, a
+cash dividend of RMB305,670,000 (i.e. a cash dividend of
+RMB0.105 per share (tax inclusive)) will be distributed. The
+dividend distribution plan is subject to consideration and
+approval of the Company's shareholders at the forthcoming
+annual general meeting.
+經二零二二年三月二十九日本公司第七屆董
+事會第二十次會議批准二零二一年度利潤分
+配預案。以二零二二年三月二十九日總股本
+2,911,142,855股為基數,分配現金股利人
+民幣305,670,000元(即每股現金股利人民幣
+0.105元(含税))。該股利分配方案尚待本公
+司股東於股東周年大會上審議批准。
+BYD Company Limited
+308
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+EVENTS AFTER THE REPORTING PERIOD
+555,978
+Other intangible assets
+其他無形資產
+176,066
+206,848
+Receivables financing
+應收款項融資
+62,914
+162,128
+Prepayments, other receivables and
+預付款項、其他應收賬款及
+473,673
+746,095
+other assets
+其他資產
+Due from subsidiaries
+應收貿易賬款
+應收附屬公司款項
+25,979,505
+Due from joint ventures
+應收合營公司款項
+4,411
+278,714
+Restricted bank deposits
+受限制銀行存款
+Cash and cash equivalents
+現金及現金等價物
+17,800,277
+2,774,076
+Total current assets
+流動資產總值
+14,097,104
+Annual Report 2021
+二零二一年年報
+Trade receivables
+71,789
+251,019
+268,720
+Non-current prepayments
+非流動預付款項
+9,718
+11,028
+Right-of-use assets
+使用權資產
+30,285
+21,892
+Equity investments at fair value through
+以公允價值計量並計入其他綜合
+2,674,760
+36,772
+1,420,080
+收益的權益投資
+Other non-current financial assets
+70,405
+122,303
+Total non-current assets
+其他非流動金融資產
+非流動資產總值
+48,486,506
+23,170,735
+CURRENT ASSETS
+Inventories
+流動資產
+存貨
+other comprehensive income
+於二零二一年十二月三十一日,本集團
+向其若干供應商背書獲中國內地的銀行
+接納的若干應收票據(「已撤銷確認票
+據」),以清償結欠該等供應商之賬面值為
+人民幣17,546,607,000元之應付貿易賬
+款(二零二零年十二月三十一日:人民幣
+6,585,688,000元)。於報告期末,已撤銷確
+認票據的到期日為一至十二個月。根據中華
+人民共和國票據法,倘擔保銀行拖欠款項,
+已撤銷確認票據之持有人對本集團擁有追溯
+權(「持續參與」)。董事認為,本集團已轉
+讓有關已撤銷確認票據之絕大部分風險及回
+報。因此,本集團已悉數撤銷確認已撤銷確
+認票據及相關應付貿易賬款之賬面值。有關
+本集團持續參與已撤銷確認票據之虧損及購
+回該等已撤銷確認票據之未折現現金流量之
+最大敞口相等於該等票據之賬面值。董事認
+為,本集團持續參與已撤銷確���票據之公允
+價值不大。於截至二零二一年十二月三十一
+日止年度,本集團尚未自轉讓貼現票據或自
+繼續涉入確認任何損益。
+於二零二一年,本集團與中國多家銀行開展
+若干票據貼現(「貼現票據」)業務,賬面值為
+人民幣28,948,188,000元(二零二零年十二
+月三十一日:人民幣12,378,432,000元)
+董事認為,於貼現時本集團已經轉移了與貼
+現票據有關的絕大部分風險與報酬,此符合
+金融資產終止確認條件,因此,於貼現日按
+照賬面值全部終止確認貼現票據。然而,本
+集團繼續面臨按賬面值購回有關票據的風
+險,因為如果承兑人在匯票到期時拒絕兌
+付,銀行有權向本集團追索(「繼續涉入」)。
+董事認為,繼續涉入的公允價值並不重大。
+於本年度,本集團並無自轉讓貼現票據或自
+繼續涉入確認任何損益。
+。
+財務風險管理目標及政策(續)
+Capital management (continued)
+The Group manages its capital structure and makes
+adjustments to it in light of changes in economic
+conditions. To maintain or adjust the capital structure, the
+Group may adjust the dividend payment to shareholders,
+return capital to shareholders or issue new shares. The
+Group is not subject to any externally imposed capital
+requirements. No changes were made in the objectives,
+policies or processes for managing capital during the years
+ended 31 December 2021 and 31 December 2020.
+資本管理(續)
+本集團管理其資本架構並根據經濟狀況的變
+動對其作出調整。為維持或調整資本架構,
+本集團或會調整支付予股東的股息、股東資
+本回報或發行新股份。本集團毋須受任何外
+部實施的資本要求所限。截至二零二一年十
+二月三十一日及二零二零年十二月三十一日
+止年度,資本管理的目標、政策或過程並無
+任何變動。
+The Group monitors capital using a gearing ratio, which
+is net debt divided by equity. The Group's policy is to
+maintain the gearing ratio as low as possible. Net debt
+includes interest-bearing bank and other borrowings and
+lease liabilities, less cash and cash equivalents. Equity
+represents equity attributable to owners of the parent. The
+gearing ratios as at the end of the reporting periods were
+as follows:
+本集團透過使用資本負債比率(即負債淨額
+除以權益)監管其資本。本集團的政策為盡
+量維持低資本負債比率。負債淨額包括計息
+銀行及其他借款及租賃負債並扣除現金及現
+金等價物。權益為母公司擁有人應佔權益。
+於報告期末的資本負債比率如下:
+Notes to Financial Statements
+2021
+31 December
+2020
+50.
+二零二一年
+十二月三十一日
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+Interest-bearing bank and other borrowings
+Lease liabilities
+計息銀行及其他借款
+33,729,304
+51,270,597
+租賃負債
+1,663,719
+1,011,793
+Less: Cash and cash equivalents
+減:現金及現金等價物
+49,819,860
+二零二零年
+十二月三十一日
+13,738,498
+FINANCIAL RISK MANAGEMENT OBJECTIVES
+AND POLICIES (CONTINUED)
+二零二一年十二月三十一日
+other payables and accruals
+Other liabilities
+的金融負債
+其他負債
+2,964,969
+36,178
+3,001,147
+1,884,297
+50,709,330 37,625,944
+29,444,722
+1,011,650 120,675,943
+Financial guarantees issued
+發出財務擔保
+Maximum amount guaranteed
+50.
+擔保的最高金額
+8,644,159
+Capital management
+The primary objectives of the Group's capital management
+are to safeguard the Group's ability to continue as a going
+concern and to maintain a healthy capital ratio in order to
+support its business and maximise shareholders' value.
+資本管理
+本集團資本管理的主要目標為保證本集團持
+續經營的能力,並維持穩健的資本比率以為
+其業務提供支持及最大化股東價值。
+BYD Company Limited
+304
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+8,644,159
+3,651,398 3,514,701
+Net (asset)/debt
+(14,426,837) 38,543,892
+423,449
+305,670
+423,449
+The proposed final dividend for the year is subject to the
+approval of the Company's shareholders at the forthcoming
+annual general meeting.
+本年度建議末期股息須待本公司股東於將召
+開的股東週年大會上批准後,方可作實。
+52.
+TRANSFERS OF FINANCIAL ASSETS
+52.
+金融資產轉移
+Financial assets that are not derecognised in their
+entirety
+At 31 December 2021, the Group endorsed certain bills
+receivable accepted by banks in Mainland China (the
+“Endorsed Bills") with a carrying amount of RMB27,649,000
+(2020:RMB5,751,000) to certain of its suppliers in
+order to settle trade payables due to such suppliers
+(the “Endorsement"). In the opinion of the directors, the
+Group has retained substantial risks and rewards, which
+include default risks relating to such Endorsed Bills, and
+accordingly, the Group continued to recognise the full
+carrying amounts of the Endorsed Bills and the associated
+trade payables settled. Subsequent to the Endorsement,
+the Group did not retain any rights on the use of the
+Endorsed Bills, including the sale, transfer or pledge of the
+Endorsed Bills to any other third parties. The aggregate
+carrying amount of the trade payables settled by the
+Endorsed Bills during the year to which the suppliers have
+recourse was RMB27,649,000(2020: RMB5,751,000) as at
+31 December 2021.
+未完全撤銷確認的金融資產
+305,670
+於二零二一年十二月三十一日,本集團向其
+若干供應商背書(「背書」)獲中國內地的銀
+行接納的若干應收票據(「已背書票據」),賬
+面值為人民幣27,649,000元(二零二零年:
+人民幣5,751,000元),以結清應付該等供
+應商的應付貿易賬款。董事認為,本集團已
+保留絕大部分風險及回報,包括有關已背書
+票據的違約風險,因此,其繼續悉數確認已
+背書票據的賬面值及相關已結清應付貿易賬
+款。於背書後,本集團並未就已背書票據的
+使用保留任何權利,包括向任何其他第三方
+出售、轉讓或質押已背書票據。於二零二一
+年十二月三十一日,年內透過已背書票據向
+具有追索權的供應商結算的應付貿易賬款的
+總賬面值為人民幣27,649,000元(二零二零
+年:人民幣5,751,000元)。
+306
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+52. TRANSFERS OF FINANCIAL ASSETS
+(CONTINUED)
+52.
+金融資產轉移(續)
+Financial assets that are derecognised in their
+entirety
+In 2021,the Group conducted certain bill discounting
+with several banks in China (the “Discounted Bills") with
+a carrying amount of RMB28,948,188,000 (31 December
+2020: RMB12,378,432,000). In the opinion of the directors,
+the Group has transferred substantially all risks and
+rewards relating to the Discounted Bills at the time of
+discounting, which meets the conditions of derecognition
+of financial assets, and therefore fully derecognised the
+Discounted Bills at their carrying amount on the discounting
+date. However, the Group continues to be exposed to the
+risks of repurchasing such bills at their carrying amount
+since the banks are entitled to recourse against the Group
+if the bills are rejected by the acceptors when falling due
+(“Continuing Involvement"). In the opinion of the directors,
+the fair value of the Continuing Involvement is insignificant.
+During the year, the Group did not recognise any profit
+or loss from the transfer of Discounted Bills or from the
+Continuing Involvement.
+At 31 December 2021, the Group endorsed certain bills
+receivable accepted by banks in Mainland China (the
+"Derecognised Bills") to certain of its suppliers in order to
+settle trade payables due to these suppliers with a carrying
+amount of RMB17,546,607,000 (31 December 2020:
+RMB6,585,688,000). The Derecognised Bills had a maturity
+of one to twelve months at the end of the reporting period.
+In accordance with the Law of Negotiable Instruments
+in the PRC, the holders of the Derecognised Bills have a
+right of recourse against the Group if the guarantor banks
+default(the “Continuing Involvement"). In the opinion
+of the directors, the Group has transferred substantially
+all risks and rewards relating to the Derecognised Bills.
+Accordingly, the Group has derecognised the full carrying
+amounts of the Derecognised Bills and the associated
+trade payables. The maximum exposure to loss from the
+Group's Continuing Involvement in the Derecognised Bills
+and the undiscounted cash flows to repurchase these
+Derecognised Bills is equal to their carrying amounts. In
+the opinion of the directors, the fair values of the Group's
+Continuing Involvement in the Derecognised Bills are not
+significant. During the year ended 31 December 2021, the
+Group has not recognised any gain or loss from the transfer
+of the Derecognised Bills or the Continuing Involvement.
+完全撤銷確認的金融資產
+BYD Company Limited
+(資產)/負債淨值
+建議末期每股普通股人民幣0.105元
+(二零二零年:人民幣0.148元)
+· RMB0.105
+Equity attributable to owners of the parent*
+母公司擁有人應佔權益*
+95,069,671
+55,779,682
+Gearing ratio
+資本負債比率
+(15%)
+69%
+As of 31 December 2021,there is no perpetual loan
+need to deduct.
+As of 31 December 2020, Equity attributable to owners
+of the parent excluded the amount of perpetual loans of
+RMB1,094,592,000.
+截至二零二一年十二月三十一日,概無
+永續債須扣除。
+截至二零二零年十二月三十一日,母公
+(2020: RMB0.148) per ordinary share
+司擁有人應佔權益已扣除永續債人民幣
+1,094,592,000°
+DIVIDENDS
+Annual Report 2021
+二零二一年年報
+305
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+51. 股息
+2021
+2020
+二零二一年
+RMB'000
+人民幣千元
+二零二零年
+RMB'000
+人民幣千元
+Proposed final -
+51.
+比亞迪股份有限公司
+RMB'000
+BYD Company Limited
+階段2
+階段3
+approach
+簡化法
+Total
+總計
+RMB'000
+人民幣千元
+RMB'000
+人民幣千元
+RMB’000
+人民幣千元
+Stage 3
+RMB'000
+人民幣千元
+人民幣千元
+Long-term receivables
+長期應收賬款
+Contract assets
+合同資產
+Trade receivables*
+應收貿易賬款*
+Receivables financing
+應收款項融資
+RMB’000
+Stage 2
+Stage 1
+階段1
+Simplified
+300
+Annual Report 2021
+二零二一年年報
+299
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+50.
+FINANCIAL RISK MANAGEMENT OBJECTIVES
+AND POLICIES (CONTINUED)
+50.
+財務風險管理目標及政策(續)
+Credit risk (continued)
+The tables below show the credit quality and the maximum
+exposure to credit risk based on the Group's credit policy,
+which is mainly based on past due information unless
+other information is available without undue cost or effort,
+and year-end staging classification as at 31 December.
+The amounts presented are gross carrying amounts for
+financial assets and the exposure to credit risk for financial
+guarantee contracts.
+信貸風險(續)
+下表載列於十二月三十一日根據本集團的信
+貸政策及列示的信貸風險之信貸質素及最大
+敞口以及年終階段分級,其主要基於逾期的
+資料(除非可在不必花費不必要成本或精力
+情況下取得其他資料則另作別論)作出。所
+呈列的金額為金融資產的賬面總值及財務擔
+保合同的信貸風險敞口。
+As at 31 December 2021
+於二零二一年十二月三十一日
+12-month ECLs
+Lifetime ECLs
+12個月
+預期信貸虧損
+年限內預期信貸虧損
+1,209,748
+1,209,748
+6,409,637
+8,838,973
+Exposure on guarantees to finance
+leasing companies
+- Not yet past due
+-未逾期
+528,128
+受限制銀行存款
+109,109
+現金及現金等價物
+49,819,860
+Cash and cash equivalents
+融資租賃公司擔保風險
+6,409,637
+528,128
+109,109
+49,819,860
+32,686,234 30,184,138
+66,046,472
+1,471,279
+49,048,444
+116,566,195
+8,838,973
+Restricted bank deposits
+-未逾期
+已抵押存款
+- Not yet past due
+36,461,387
+37,838,050
+8,782,397
+8,782,397
+Financial assets included in prepayments, 計入預付款項、其他應收賬款及
+other receivables and other assets
+其他資產的金融資產
+- Normal**
+- 正常**
+1,376,663
+397,341
+- Doubtful**
+-呆賬**
+94,616
+94,616
+Due from joint ventures and associates*
+應收合營公司及聯營公司款項*
+2,538,336
+2,538,336
+397,341
+Pledged deposits
+2,388
+應收款項融資公允價值變動
+Change in fair value of
+Profit for the year
+189,809
+年度溢利
+703,402
+receivables financing
+(225,407)
+19,980,490
+Other comprehensive income for the year: 年度其他綜合收益:
+Change in fair value of equity
+95,069,671 56,874,274 56,762,289 55,198,289 55,004,194
+(438,579)
+investments at fair value through
+BYD COMPANY LIMITED
+BYD) 比亞迪股份有限公司
+295,780,147 201,017,321 195,641,593 194,571,077 178,099,430
+(191,535,938) (136,563,409) (133,040,173) (133,877,098) (118,141,943)
+(9,174,538) (7,579,638) (5,839,131) (5,495,690) (4,953,293)
+4,916,936
+3,556,193
+2,118,857
+6,013,963
+3,967,266
+淨資產值(不包括非控股權益)
+負債總額
+非控股權益
+以公允價值計量並計入其他綜合
+於二零二零年一月一日
+Capital comprehensive
+人民幣千元
+Statutory
+Share
+through other
+surplus
+premium
+資產總值
+reserve
+Retained
+Perpetual
+account
+reserve
+income
+fund
+profits
+loans
+Total
+股份溢價賬
+RMB'000
+人民幣千元
+資本儲備
+RMB'000
+人民幣千元
+以公允價值計量
+並計入其他綜合
+收益的金融資產
+的公允價值儲備
+RMB°000
+人民幣千元
+法定盈餘
+公積金
+RMB’000
+人民幣千元
+留存溢利
+RMB'000
+人民幣千元
+永續債
+RMB'000
+人民幣千元
+總計
+RMB'000
+At 1 January 2020
+NON-CONTROLLING INTERESTS)
+2,431,131
+(312,274)
+NON-CONTROLLING INTERESTS
+52,878
+(277,602) (270,959)
+(435,311)
+12,535
+(198,955)
+12,118
+65,981
+聯營公司
+Associates
+(211,276)
+合營公司
+Joint ventures
+分佔溢利及虧損:
+Share of profits and losses of:
+(3,118,751) (2,342,770)
+(463,645)
+(568,610)
+(2,056,691) (213,536)
+(3,123,801) (3,487,407)
+(1,986,631)
+(1,907,642)
+融資成本
+Finance costs
+其他開支
+Other expenses
+measured at amortised cost
+(361,765)
+(519,134)
+(299,523)
+46,437
+除稅前溢利
+4,518,003
+6,882,587
+TOTAL LIABILITIES
+TOTAL ASSETS
+4,066,478
+850,458
+2,780,194
+775,999
+1,614,450
+504,407
+4,234,267
+1,779,696
+922,078
+非控股權益
+Non-controlling interests
+3,045,188
+母公司擁有人
+Owners of the parent
+NET ASSETS (EXCLUDING
+以下人士應佔:
+3,556,193 4,916,936
+2,118,857
+6,013,963
+3,967,266
+本年度溢利
+PROFIT FOR THE YEAR
+4,385,640 5,620,641
+(829,447) (703,705)
+fair value
+(868,624)
+(550,737)
+所得稅開支
+Income tax expense
+Attributable to:
+assets at
+1,094,592
+Fair value
+reserve of
+21,970
+115,769
+Interest-bearing bank and other borrowings
+計息銀行及其他借款
+9,711,438
+8,582,136
+Due to joint ventures
+應付合營公司款項
+Due to subsidiaries
+應付附屬公司款項
+Tax payable
+3,859,932
+32,254
+2,163,815
+772
+1,425
+Total current liabilities
+應付稅項
+流動負債總額
+13,903,909
+14,331,857
+NET CURRENT ASSETS
+流動資產淨值
+18,782,325 15,852,281
+TOTAL ASSETS LESS CURRENT LIABILITIES
+資產總值減流動負債
+合同負債
+Contract liabilities
+2,746
+11,067
+Annual Report 2021
+二零二一年年報
+309
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+54. STATEMENT OF FINANCIAL POSITION OF THE
+COMPANY (CONTINUED)
+54.
+本公司之財務狀況表(續)
+Information about the statement of financial position of the
+Company at the end of the reporting period is as follows:
+(continued)
+有關本公司於報告期末之財務狀況表的資料
+載述如下:(續)
+2021
+二零二一年
+RMB'000
+人民幣千元
+67,268,831 39,023,016
+2020
+二零二零年
+CURRENT LIABILITIES
+Trade and bills payables
+Other payables
+流動負債
+應付貿易賬款及票據
+63,925
+1,697,701
+其他應付款項
+234,805
+1,736,011
+Lease liabilities
+租賃負債
+RMB'000
+人民幣千元
+NON-CURRENT LIABILITIES
+非流動負債
+Interest-bearing bank and other borrowings
+2,728,143
+Reserves
+儲備
+56,749,553
+20,208,121
+Perpetual loans
+(88,765)
+Total equity
+永續債
+權益總額
+59,660,696
+24,030,856
+2,911,143
+BYD Company Limited
+比亞迪股份有限公司
+Notes to Financial Statements
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+54. STATEMENT OF FINANCIAL POSITION OF THE
+COMPANY (CONTINUED)
+54.
+本公司之財務狀況表(續)
+本公司之儲備概要載述如下:
+Note:
+A summary of the Company's reserves is as follows:
+附註:
+310
+financial
+股本
+Equity attributable to owners of the parent
+Share capital
+計息銀行及其他借款
+7,280,975
+Lease liabilities
+租賃負債
+Deferred tax liabilities
+遞延稅項負債
+341
+75,541
+14,740,459
+390
+Deferred income
+遞延收入
+1,777
+母公司擁有人應佔權益
+Other non-current liabilities
+249,501
+1,810
+249,501
+Total non-current liabilities
+非流動負債總額
+7,608,135
+14,992,160
+Net assets
+資產淨值
+59,660,696
+24,030,856
+EQUITY
+權益
+其他非流動負債
+終止確認攤銷成本計量的金融資產虧損
+PROFIT BEFORE TAX
+不適用
+發行股份
+Repay of perpetual loans
+Issue of shares
+收益的權益投資的公允價值
+變動
+Total comprehensive income for the year 年度綜合收益總額
+other comprehensive income
+investments at fair value through
+贖回永續債
+456,497
+456,497
+14
+以公允價值計量並計入其他綜合
+Change in fair value of equity
+receivables financing
+應收款項融資公允價值變動
+Change in fair value of
+14
+Other comprehensive income for the year: 年度其他綜合收益:
+36,048,731
+Perpetual loan interest
+Others
+reserve fund
+(51,189)
+51,189
+(61,600)
+(423,449)
+(423,449)
+(61,600)
+(5,408)
+36,048,731
+(1,094,592) (1,100,000)
+504,196
+456,511
+轉撥至法定盈餘公積金
+已付二零二零年末期股息
+永續債利息
+Appropriation to statutory surplus
+Final 2020 dividend paid
+960,707
+其他
+1,094,592 21,302,713
+504,196
+年度溢利
+(436,191)
+轉撥至法定盈餘公積金
+Appropriation to statutory surplus
+reserve fund
+已付二零一九年末期股息
+Loss on derecognition of financial assets
+永續債利息
+Perpetual loan interest
+169,420
+(438,579)
+169,420
+209,285 4,394,592 25,252,171
+169,420
+贖回永續債
+Repay of perpetual loans
+Total comprehensive income for the year 年度綜合收益總額
+other comprehensive income
+收益的權益投資公允價值變動
+2,388
+(30,761)
+504,196
+(266,771)
+(218,998)
+Profit for the year
+(246,382) 730,181
+(225,407)
+19,980,490
+於二零二一年一月一日
+At 1 January 2021
+(30,761) 1,094,592 21,302,713
+(3,300,000) (3,300,000)
+(246,382) 730,181
+於二零二零年十二月三十一日 19,980,490
+At 31 December 2020
+(26,779)
+26,779
+(163,689)
+(163,689)
+(218,998)
+(225,407)
+22,451
+Final 2019 dividend paid
+不適用
+211,299,918 153,469,184 121,778,117
+(187,667,357) (126,225,593) (103,702,124) (103,724,161)
+銷售成本
+收入
+Gross profit
+Cost of sales
+REVENUE
+(經重列)
+(Restated)
+人民幣千元
+二零一七年
+RMB'000
+RMB'000
+人民幣千元
+2017
+2018
+二零一八年
+2019
+二零一九年
+RMB'000
+人民幣千元
+2020
+二零二零年
+RMB'000
+人民幣千元
+二零二一年
+RMB'000
+人民幣千元
+2021
+以下為本集團過去五個財政年度之業績以及資產、
+負債及少數股東權益之概要,乃摘錄自刊發之經審
+核財務報表,並經適當重列/重新分類。
+A summary of the results and of the assets, liabilities and minority
+interests of the Group for the last five financial years, as extracted
+from the published audited financial statements and restated/
+reclassified as appropriate, is set out below.
+二零二一年十二月三十一日
+31 December 2021
+121,790,925
+102,650,614
+(84,715,540)
+毛利
+(332,080)
+(477,031)
+(1,166,268)
+(444,553)
+¥§Àª§}
+Impairment losses on financial and contract assets
+(3,826,379) (3,047,734)
+(5,742,242) (4,395,630) (4,232,316)
+行政開支
+Administrative expenses
+五年財務摘要
+(4,989,360) (3,739,491)
+研究與開發成本
+Research and development costs
+銷售及分銷成本
+Selling and distribution costs
+2,263,485
+政府補助及補貼
+3,009,737
+其他收入及收益
+Other income and gains
+23,632,561
+27,243,591 18,075,993 18,066,764 17,935,074
+1,700,078 1,974,950 2,137,163 1,153,210
+1,688,142 1,707,657 2,332,863 1,275,807
+(6,081,678) (5,055,613) (4,345,897) (4,729,481) (4,925,288)
+(7,990,974) (7,464,861) (5,629,372)
+Five Year Financial Summary
+Government grants and subsidies
+312
+22,451
+At 31 December 2021
+於二零二一年十二月三十一日 56,029,221
+(208,364)
+210,129
+比亞迪股份有限公司
+(62,803)
+56,749,553
+Annual Report 2021
+二零二一年年報
+311
+781,370
+財務報表附註
+31 December 2021
+二零二一年十二月三十一日
+55.
+APPROVAL OF THE FINANCIAL STATEMENTS
+55.
+審批財務報表
+The financial statements were approved and authorised for
+issue by the board of directors on 29 March 2022.
+董事會已於二零二二年三月二十九日審批及
+授權刊發財務報表。
+BYD Company Limited
+Notes to Financial Statements
+結構變化所致。
+decreased in comparison with 2020, mainly attributable to change
+of product mix.
+Liquidity and Financial Resources
+年內,比亞迪錄得經營現金流入約人民幣65,467百
+萬元,而二零二零年則錄得經營現金流入約人民幣
+45,393百萬元。本集團期內現金流入主要是經營活
+動銷售商品及提供服務收到的現金增加所致。於二
+零二一年十二月三十一日的總借貸包括全部銀行貸
+款及債券,約為人民幣33,729百萬元,而二零二零
+年十二月三十一日為約人民幣51,271百萬元。銀行
+貸款及債券的到期還款期限分佈在五年期間,分別
+須於一年期內償還約人民幣22,939百萬元,於第二
+至五年期內償還約人民幣10,790百萬元。本集團擁
+有足夠的流動性以滿足日常流動資金管理及資本開
+支需求,並控制內部經營現金流量。
+For the year ended 31 December 2021,turnover period of
+receivables (including trade receivables and receivables
+financing, amounts due from associates and joint ventures,
+amounts due from related parties) was approximately 100 days,
+as compared to approximately 141 days for the same period in
+2020, which was mainly due to the fact that the increase of trade
+receivables balance in average was lower than that of sales.
+revenue over the same period. The inventory turnover period was
+approximately 74 days for the year ended 31 December 2021 as
+compared to approximately 83 days for the same period in 2020,
+which was mainly due to the fact that the increase of inventory in
+average was lower than that of cost of sales over the same period.
+Please refer to notes 35 and 43 to the financial statements for
+details of financial resources.
+流動資金及財務資源
+During the Year, BYD generated operating cash inflow of
+approximately RMB65,467 million,compared with operating
+cash inflow of approximately RMB45,393 million in 2020.Cash
+inflow of the Group during the Period was mainly arising from
+the increase in cash generated from the sales of goods and
+provision of services in operating activities. Total borrowings as
+at 31 December 2021, including all bank loans and bonds, were
+approximately RMB33,729 million,compared with approximately
+RMB51,271 million as at 31 December 2020. The maturity profile
+of the bank loans and bonds thereof spreads over a period of five
+years, with approximately RMB22,939 million repayable within
+one year,approximately RMB10,790 million within the second to
+the fifth years. The Group had adequate liquidity to meet its daily
+liquidity management and capital expenditure requirements and
+control internal operating cash flows.
+本集團年內的毛利約下降13.25%至約人民幣23,633
+Overseas
+During the Year, the Group's gross profit decreased by
+approximately 13.25% to approximately RMB23,633 million. Gross
+profit margin decreased from approximately 17.75% in 2020 to
+approximately 11.18% during the Year. The gross profit margin
+Gross Profit and Margin
+管理層討論與分析
+Management Discussion and Analysis
+比亞迪股份有限公司
+30
+BYD Company Limited
+境外
+截至二零二一年十二月三十一日止年度,應收類款
+項(含應收貿易賬款及應收款項融資、應收聯營及合
+營公司、應收關聯方款項)週轉期約為100天,二零
+二零年同期約為141天,變化的主要原因為應收賬
+款平均餘額的同期增幅比營業收入的同期增幅小。
+截至二零二一年十二月三十一日止年度存貨週轉期
+約為74天,二零二零年同期約為83天,變化的主要
+原因為平���庫存的同比增幅比銷售成本的同期增幅
+小。
+毛利及邊際利潤
+有關財務資源的詳情,請參閱財務附註35及43。
+以夢為馬 >
+Management Discussion and Analysis
+管理層討論與分析
+Please refer to note 44 to the financial statements for details of
+contingent liabilities.
+ENVIRONMENTAL PROTECTION AND SOCIAL
+SECURITY
+During the reporting period, the Company had no significant
+environmental protection or social security issues.
+由於本公司於比亞迪半導體的股權預期於分拆完成
+後將會減少,故分拆將構成上市規則第十四章項下
+本公司之視作出售事項。目前預期分拆的最高適用
+百分比率均將低於5%。因此,分拆並不構成上市規
+則第十四章項下本公司的須予公佈交易,且毋須遵
+守上市規則第十四章項下的公告、申報及股東批准
+規定。
+截至本年報日期,本次分拆尚需取得中國證監會同
+意發行註冊程序的決定,存在不確定性。本公司將
+遵守上市規則項下的適用規定,並於適當時候作進
+一步公告。
+資本承擔
+有關資本承擔業務的詳情,請參閱財務報表附註46。
+或有負債
+Annual Report 2021
+二零二一年年報
+有關或有負債的詳情,請參閱財務報表附註44。
+報告期內,本公司不存在重大環保或社會安全問題。
+二零二零年
+逐光前行
+REV
+& ER
+nental
+The Group's financial division is responsible for the Group's
+financial risk management which operates according to policies
+implemented and approved by senior management. As at 31
+December 2021, borrowings were primarily settled in RMB,while
+cash and cash equivalents were primarily held in RMB and US
+dollar. The Group plans to maintain an appropriate mix of equity
+and debt to ensure an efficient capital structure during the Period.
+As at 31 December 2021, the Group's outstanding loans included
+RMB loans and foreign currency loans and approximately 58%
+(2020: 56%) of such outstanding loans were at fixed interest rates,
+with the remaining at floating interest rates.
+Capital Structure
+31
+環保及社會安全情況
+61.48%
+Mobile handset compo-
+2020
+財務回顧
+營業額及母公司擁有人應佔溢利
+年內,營業額較二零二零年增加37.68%,主要是產
+品結構變化所致。母公司權益持有人應佔溢利較去
+年同期下滑28.08%,主要為產品結構變化導致毛利
+率下滑。
+分部資料
+下圖為本集團於截至二零二一年及二零二零年十二
+月三十一日止年度按產品類別分析的營業額比較:
+Revenue Breakdown by Locations of Customers
+按客戶所在地劃分的營業額
+7.29%
+2021
+CONTINGENT LIABILITIES
+40.49%
+7.63%
+2020
+30.24%
+2021
+69.76%
+2021
+二零二一年
+Rechargeable Batteries and
+Photovoltaic
+按產品類別劃分的營業額
+Revenue Breakdown by Product Categories
+二次充電電池及光伏
+The following charts set out comparisons of the Group's revenue
+by product categories for the years ended 31 December 2021 and
+2020:
+中國(包括港澳台地區)
+Macau and Taiwan)
+PRC (including Hong Kong,
+二零二一年
+2021
+手機部件、組裝及其他
+產品
+and other products
+nents, assembly service
+二零二零年
+2020
+2020
+products, and other products
+Automobiles and related
+Management Discussion and Analysis
+管理層討論與分析
+29
+FINANCIAL REVIEW
+Revenue and Profit attributable to Owners of the Parent
+Company
+During the Year,revenue increased by 37.68% as compared
+to that of 2020,mainly attributable to change of product mix.
+The profit attributable to equity holders of the Parent Company
+decreased by 28.08% as compared to the previous year, mainly
+attributable to the decrease of gross profit rate due to change of
+product mix.
+Segmental Information
+汽車、汽車相關產品及其他產品
+Please refer to note 46 to the financial statements for details of
+capital commitments.
+其中,根據本公司股東於二零二一年六月十六日通
+過的決議案批准採納比亞迪半導體股份有限公司(前
+稱為比亞迪半導體有限公司)股權期權計劃(「子公
+司股權期權計劃」),有關子公司股權期權計劃的進
+一步詳情,請參閱本報告以下「子公司股權期權計
+劃」分節。
+with the applicable requirements under the Listing Rules and
+make further announcement when appropriate.
+There are 36 participants in the Subsidiary Share Option Scheme,
+including directors (excluding independent non-executive
+directors), senior management and key personnel (excluding
+supervisors) of BYD Semiconductor. The Subsidiary Share
+Option Scheme is tailored to be a one-off incentive arrangement
+for the aforesaid 36 participants only. None of the 36 incentive
+participants of the Subsidiary Share Option Scheme is a
+connected person at the Company level. For details of the identity
+and positions of the aforesaid participants, please refer to the
+Circular.
+子公司股權期權計劃旨在(其中包括)進一步建立及
+完善比亞迪半導體的激勵���制、挽留及激勵人才以
+及允許全體參與方聚焦比亞迪半導體的長期發展並
+共同促進其可持續發展。
+子公司股權期權計劃有36名參與者,包括比亞迪半
+導體董事(不包括獨立非執行董事)、高級管理層及
+關鍵人員(不包括監事)。子公司股權期權計劃乃僅
+為上述36名參與者量身定制的一次性激勵安排。概
+無子公司股權期權計劃的36名激勵參與者乃本公司
+層面的關連人士。有關上述參與者的身份及職位,
+請參閱該通函。
+Annual Report 2021
+二零二一年年報
+Management Discussion and Analysis
+管理層討論與分析
+The number of shares of BYD Semiconductor in respect of which
+the share options involved is 33,088,235 (representing 7.353%
+of the registered share capital of BYD Semiconductor as at the
+date of this report), and the cumulative total number of shares of
+BYD Semiconductor involved under the Subsidiary Share Option
+Scheme and all other schemes of BYD Semiconductor shall not
+exceed 10% of the total share capital of BYD Semiconductor in
+issue on 16 June 2021, the date of approval of the Subsidiary
+Share Option Scheme by the directors of the Company. As at the
+date of this report, an aggregate of 33,088,235 share options,
+representing all the share options which could be granted
+under the Subsidiary Share Option Scheme, were granted to 36
+employees of BYD Semiconductor pursuant to the terms and
+conditions of the Subsidiary Share Option Scheme at the exercise
+price of RMB4.54 per share (subject to a further adjustment in
+accordance with terms and conditions of the Subsidiary Share
+Option Scheme). Save for 203,824 share options which had been
+lapsed and cancelled as a result of the resignation of an employee
+subsequent to the conditional approval of the Subsidiary Share
+Option Scheme, no share option was exercised, cancelled and/or
+lapsed during the twelve months ended 31 December 2021. As at
+31 December 2021, there was no outstanding share option under
+the Subsidiary Share Option Scheme.
+The validity period of the Subsidiary Share Option Scheme shall
+commence from the grant date of the share options and end on
+the date on which all the share options granted to the incentive
+participants have been exercised or cancelled, which shall not
+be longer than 10 years. The share options granted under the
+Subsidiary Share Option Scheme shall be exercised in three
+tranches, and the corresponding vesting periods shall be 24
+months,36 months and 48 months respectively from the grant
+date. In the first, second, and third exercise periods,30%,30%,
+and 40% of the share options are entitled to be exercised under
+the prerequisite of meeting performance conditions. The share
+options will not be exercisable when participants fail to fulfil
+BYD Semiconductor's performance as the conditions of exercise
+or those currently not exercised after the end of the exercise
+period shall become null and void and be repurchased without
+consideration and cancelled by BYD Semiconductor. For further
+details of the exercise period, performance appraisal objectives
+(as conditions of the exercise of the share options) and further
+details of the Subsidiary Share Option Scheme, please refer to the
+Circular and note 41 to the financial statements in this report.
+涉及股權期權的比亞迪半導體股份數目為
+33,088,235股(於本報告日期佔比亞迪半導註冊股
+本的7.353%)。子公司股權期權計劃項下涉及的比
+亞迪半導體累計股份總數及比亞迪半導體所有其他
+計劃不應超過比亞迪半導體於二零二一年六月十六
+日(本公司董事批准子公司股權期權計劃之日)已發
+行股本總額的10%。於本報告日期,根據子公司股
+權期權計劃的條款及條件按發行價每股人民幣4.54
+元(須根據子公司股權期權計劃的條款及條件進一步
+調整)授予比亞迪半導體36名僱員合共33,088,235
+份股權期權(即子公司股權期權計劃項下可授予的所
+有股權期權)。除由於有條件批准子公司股權期權計
+劃後僱員辭任導致的203,824份股權期權已失效及
+註銷外,截至二零二一年十二月三十一日止十二個
+月,概無股權期權獲行使、註銷及/失效。於二零
+二一年十二月三十一日,子公司股權期權計劃項下
+尚未行使股權期權。
+子公司股權期權計劃的有效期將自股權期權授予日
+期開始,並於所有已行使或註銷的股權期權授予激
+勵參與者當日結束,不應超過十年。根據子公司股
+權期權計劃授予的股權期權應分三批行使,相應歸
+屬期應自授予日期起分別為24個月、36個月及48個
+月。於第一、第二及第三個行使期,於滿足業績條
+件的前提下,30%、30%及40%的股權期權有權行
+使權力。當參與者未能履行比亞迪半導體作為行使
+條件的業績時,或於行使期末後當前未行使的股權
+期權將失效,並由比亞迪半導體無償回購及註銷。
+有關行使期、作為股權期權行使條件的績效考核目
+標的詳情及子公司股權期權計劃的進一步詳情,請
+參閱該通函及本報告的財務報表附註41
+。
+33
+BYD Company Limited
+34
+比亞迪股份有限公司
+Management Discussion and Analysis
+管理層討論與分析
+SHARE CAPITAL
+The Company has successfully allotted and issued 133,000,000
+and 50,000,000 new H shares on 28 January 2021 and 8
+November 2021 respectively. As at 31 December 2021, the share
+capital of the Company was as follows:
+股本
+The purpose of the Subsidiary Share Option Scheme is to, among
+others, further establish and improve the incentive mechanism
+of BYD Semiconductor, retain and motivate talents, and allow
+all parties to focus on the long-term development of BYD
+Semiconductor and jointly promote its sustainable development.
+茲提述本公司日期為二零二一年五月十一日的公告
+及日期為二零二一年五月三十一日的通函(「該通
+函」),內容有關(其中包括)建議採納比亞迪半導體
+有限公司2020年股權期權激勵計劃(「子公司股權期
+權計劃」)。本公司股東於本公司於二零二一年六月
+十六日舉行的臨時股東大會上批准採納子公司股權
+期權計劃。
+The Group monitors capital using a gearing ratio, which is net debt
+divided by equity. The Group's policy is to maintain the gearing
+ratio as low as possible. Net debt includes interest-bearing bank
+and other borrowings less cash and cash equivalents. Equity
+represents equity attributable to owners of the parent. Therefore,
+the gearing ratios of the Group was -15% and 69% as at 31
+December 2021 and 31 December 2020, respectively.
+As at 31 December 2021,certain items of the Group's land and
+buildings with a net carrying amount of RMB182,646 thousand
+(31 December 2020: RMB191,209 thousand) have been pledged
+as securities for the long term loans of RMB111,441 thousand (31
+December_2020:RMB116,295 thousand) granted to the Group,
+of which RMB21,304 thousand (31 December 2020: RMB6,675
+thousand) was long term loans due within a year. No transit
+equipment(31 December 2020:RMB1,781 thousand) has been
+pledged as securities for the long term loans. In addition, as
+at 31 December 2021, a pledged bank deposit of RMB528,128
+thousand (2020:RMB429,041 thousand) and a restricted bank
+deposit of RMB109,109 thousand (2020: RMB277,491 thousand)
+were pledged for bank bills, guarantee deposits and others.
+References are made to the announcement dated 11 May 2021
+and circular (the “Circular") dated 31 May 2021 of the Company,
+in relation to, among others, the adoption of the 2020 Share Option
+Incentive Scheme of BYD Semiconductor Co., Ltd (the "Subsidiary
+Share Option Scheme"). The adoption of the Subsidiary Share
+Option Scheme was approved by the shareholders of the
+Company at the extraordinary general meeting of the Company
+held on 16 June 2021.
+SUBSIDIARY SHARE OPTION SCHEME
+In particular, the adoption of a share option scheme (the
+"Subsidiary Share Option Scheme") of BYD Semiconductor
+Company Limited (比亞迪半導體股份有限公司) (formerly known
+as BYD Semiconductor Co.,Ltd,比亞迪半導體有限公司) was
+approved pursuant to a resolution of the shareholders of the
+Company passed on 16 June 2021. For further details of the
+Subsidiary Share Option Scheme, please refer the sub-paragraph
+headed "Subsidiary Share Option Scheme" below of this report.
+於二零二一年十二月三十一日,本集團僱用約28.82
+萬名僱員。期內,員工成本總額佔本集團營業額約
+15.05%。本集團按僱員的表現、資歷及當時的行
+業慣例釐定給予僱員的報酬,而酬金政策會定期檢
+討。根據年度工作表現評核,僱員或會獲發花紅及
+獎金。發放獎勵乃作為個人推動力的鼓勵。
+僱用、培訓及發展
+As at 31 December 2021, the Group had approximately
+288.2 thousand employees. During the Period,total staff cost
+accounted for approximately 15.05% of the Group's turnover.
+Employees' remuneration was determined based on performance,
+qualifications and prevailing industry practices, with compensation
+policies being reviewed on a regular basis. Bonuses were also
+awarded to employees, based on their annual performance
+evaluation. Incentives were offered to encourage personal
+motivation.
+Employment, Training and Development
+管理層討論與分析
+Management Discussion and Analysis
+本公司於二零二一年一月二十八日及二零二一年
+十一月八日成功分別配發及發行133,000,000股及
+50,000,000新H股,於二零二一年十二月三十一
+日,本公司的股本如下:
+比亞迪股份有限公司
+BYD Company Limited
+本集團大部分收入及開支均以人民幣及美元結算。
+期內,本集團並無因貨幣匯率的波動而令其營運或
+流動資金出現任何重大困難或影響。董事相信,本
+集團將有充足外幣應付其外匯需要,並將採取切實
+有效的方法防範外匯匯兌風險。
+外匯風險
+於二零二一年十二月三十一日,本集團��賬面淨值
+為人民幣182,646千元(二零二零年十二月三十一
+日:人民幣191,209千元)的土地及房屋建築物作為
+抵押取得長期借款人民幣111,441千元(二零二零年
+十二月三十一日:人民幣116,295千元),其中一年
+內到期的長期借款人民幣21,304千元(二零二零年
+十二月三十一日:人民幣6,675千元)。本年無以運
+輸工具(二零二零年十二月三十一日:人民幣1,781
+千元)作為抵押取得的長期借款。此外,於二零二一
+年十二月三十一日,為取得銀行承兌匯票、信用證
+保證金及其他抵押銀行存款人民幣528,128千元(二
+零二零年:人民幣429,041千元)及受限銀行存款人
+民幣109,109千元(二零二零年:人民幣277,491千
+元)。
+本集團透過使用資本負債比率(即負債淨額除以權
+益)監管其資本。本集團的政策為盡量維持低資本
+負債比率。負債淨額包括計息銀行及其他借款並扣
+除現金及現金等價物。權益為母公司擁有人應佔權
+益。因此,本集團於二零二一年十二月三十一日
+及二零二零年十二月三十一日的資本負債比率分別
+為-15%及69%。
+本集團財務處的職責是負責本集團的財務風險管理
+工作,並根據高級管理層實行批核的政策運作。於
+二零二一年十二月三十一日,借貸主要以人民幣結
+算,而其現金及現金等價物則主要以人民幣及美元
+持有。本集團計劃於期內維持適當的股本及債務組
+合,以確保具備有效的資本架構。於二零二一年十
+二月三十一日,本集團未償還貸款包括人民幣貸款
+及外幣貸款,且該等未償還貸款中約有58%(二零二
+零年:56%)按固定息率計息,而餘下部分則按浮動
+息率計息。
+資本架構
+Most of the Group's income and expenditure are settled in RMB
+and US dollar. During the Period, the Group did not experience
+any significant difficulties in or impacts on its operations or
+liquidity due to fluctuations in currency exchange rates. The
+Directors believe that the Group has sufficient foreign exchange
+to meet its own foreign exchange requirements and will adopt
+practical measures to prevent exposure to exchange rate risk.
+Exposure to Foreign Exchange Risk
+32
+A shares
+H shares
+Total
+建議分拆比亞迪半導體
+謹此提述本公司日期為二零二零年十二月三十日、
+二零二一年六月十六日、二零二一年六月三十日、
+二零二一年十月二十五日及二零二二年一月二十七
+日的公告及本公司日期為二零二一年五月三十一日
+的通函,內容有關(其中包括)建議分拆本公司的非
+全資子公司比亞迪半導體股份有限公司(前稱為比亞
+迪半導體有限公司)(「比亞迪半導體」)並於深圳證
+券交易所(「深交所」)創業板獨立上市(以下簡稱「分
+拆」)。
+Annual Report 2021
+二零二一年年報
+Management Discussion and Analysis
+管理層討論與分析
+The Company held the 4th Meeting of the Seventh Session of the
+Board, the 11th Meeting of the Seventh Session of the Board and
+the First Extraordinary General Meeting of 2021 on 30 December
+2020, 10 May 2021, and 16 June 2021, respectively, during which
+the Company considered and approved the matters related to the
+Spin-off of BYD Semiconductor to be listed on the ChiNext Board
+of the Shenzhen Stock Exchange (hereinafter referred to as the
+“Spin-off”). The Company subsequently submitted the application
+materials for the Spin-off to the SZSE and filed the application
+for the Spin-off and the waiver of the Company from providing
+assured entitlement to the Company's shareholders to The Stock
+Exchange of Hong Kong Limited (“Hong Kong Stock Exchange").
+On 29 June 2021, the Company received the Notice Regarding
+Acceptance of the Application Documents for the Initial Public
+Offering and Listing of Shares of BYD Semiconductor Company
+Limited on the ChiNext Board issued by SZSE (Shen Zheng Shang
+Shen [2021]No.283). In accordance with relevant regulations,
+the SZSE checked the application report and related application
+documents submitted by BYD Semiconductor for the initial
+public offering and listing of shares on the ChiNext Board, and
+determined that the documents are complete and acceptable.
+On 22 October 2021, the Company received the approval in
+relation to the Spin-off and the waiver for assured entitlement from
+the Hong Kong Stock Exchange, confirming that the Company may
+conduct the Spin-off pursuant to Practice Note 15 of the Listing
+Rules and can be waived from providing assured entitlement of
+BYD Semiconductor's shares to its existing shareholders.
+According to the Announcement of the Results of the 5th
+Consideration Meeting of the GEM Listing Committee in 2022
+announced by the SZSE on 27 January 2022, the results of
+the review of the Listing Committee of SZSE in relation to the
+application of BYD Semiconductor to list on the ChiNext Board of
+SZSE separately are that BYD Semiconductor Company Limited
+(initial public offering) complies with the issuance conditions, the
+conditions of listing and the information disclosure requirements.
+本公司分別於二零二零年十二月三十日、二零二一
+年五月十日及二零二一年六月十六日召開的第七屆
+董事會第四次會議、第七屆董事會第十一次會議和
+二零二一年第一次臨時股東大會審議通過了關於分
+拆比亞迪半導體至深圳證券交易所創業板上市的相
+關事項(以下簡稱「本次分拆」),並於其後向深交所
+提交了本次分拆的申請材料,及向香港聯合交易所
+有限公司(以下簡稱「香港聯交所」)提出本次分拆及
+豁免公司向公司股東提供保證配額的申請。
+除下文「建議分拆比亞迪半導體」一節所述外,於本
+報告期內,概無所持重大投資及重大收購及出售附
+屬公司、聯營公司及合營公司。
+二零二一年六月二十九日,本公司收到深交所發出
+的《關於受理比亞迪半導體股份有限公司首次公開發
+行股票並在創業板上市申請文件的通知》(深證上審
+[2021]283號)。深交所依據相關規定對比亞迪半導
+體報送的首次公開發行股票並在創業板上市的申請
+報告及相關申請文件進行了核對,認為文件齊備,
+決定予以受理。
+根據深交所二零二二年一月二十七日公佈的《創業板
+上市委二零二二年第5次審議會議結果公告》,深交
+所創業板上市委員會就比亞迪半導體擬於深交所創
+業板獨立上市的申請的審議結果為:比亞迪半導體
+股份有限公司(首發)符合發行條件、上市條件和信
+息披露要求。
+35
+BYD Company Limited
+36
+比亞迪股份有限公司
+Management Discussion and Analysis
+管理層討論與分析
+As it is expected that the Company's equity interests in BYD
+Semiconductor will be redeemed upon the completion of Spin-off,
+the Spin-off would constitute a deemed disposal of the Company
+under Chapter 14 of the Listing Rules. Currently, the highest
+applicable percentage ratio of the Spin-off will be less than 5%.
+Accordingly, the Spin-off will not constitute a notifiable transaction
+of the Company under Chapter 14 of the Listing Rules, and is
+not subject to the requirements of announcement, reporting and
+approval of shareholders under Chapter 14 of the Listing Rules.
+As of the date of this annual report, there are uncertainties for
+the spin off, as it is subject to the approval of the CSRC for the
+issuance and registration procedures. The Company will comply
+二零二一年十月二十二日,本公司收到香港聯交所
+關於本次分拆的批覆及保證配額的豁免同意函,確
+認本公司可根據上市規則第15項應用指引進行分拆
+及可獲豁免向其現有股東提供比亞迪半導體股份之
+保證配額。
+CAPITAL COMMITMENT
+所持重大投資及重大收購及出售附屬公司、
+聯營公司及合營公司
+購買、出售或贖回股份
+A股
+H股
+總數
+Number of
+shares issued
+已發行股份數目
+1,813,142,855
+Approximate
+Percentage (%)
+約佔百分比(%)
+1,098,000,000
+2,911,142,855
+於二零二一年一月一日起至二零二一年十二月三十
+一日止,本公司並無贖回其任何股份。期內,本公
+司或其任何附屬公司概無購買或出售任何本公司股
+份。
+子公司股權期權計劃
+100.00%
+PURCHASE, SALE OR REDEMPTION OF SHARES
+The Company did not redeem any of its shares during the period
+from 1 January 2021 to 31 December 2021. During the Period,
+neither the Company nor any of its subsidiaries purchased or sold
+any of the Company's shares.
+SIGNIFICANT INVESTMENT HELD AND MATERIAL
+ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES,
+ASSOCIATES AND JOINT VENTURES
+Save as described in the section headed "Proposed Spin-off of
+BYD Semiconductor” below, during the reporting period,there
+was no significant investment held, material acquisition and
+disposal of subsidiaries, associates and joint ventures.
+Proposed Spin-off of BYD Semiconductor
+References are made to the announcements of the Company
+dated 30 December 2020,16 June 2021, 30 June 2021,25
+October 2021 and 27 January 2022, as well as the circular of
+the Company dated 31 May 2021, in relation to (among others)
+the proposed spin-off and separate listing of a non wholly-
+owned subsidiary of the Company, BYD Semiconductor Company
+Limited(比亞迪半導體股份有限公司) (formerly known as “BYD
+Semiconductor Co., Ltd.", hereinafter referred to as “BYD
+Semiconductor"), on the ChiNext Board of the Shenzhen Stock
+Exchange (the “SZSE”) (hereinafter referred to as “Spin-off”).
+37.72%
+62.28%
+二零二一年年報
+Annual Report 2021
+39
+Mr. Jiang Yan-bo,aged 56, Chinese national with no right of
+abode overseas, doctoral degree holder,professor of law. Mr.
+Jiang was appointed as an independent non-executive director
+of the Company on 8 September 2020.Mr.Jiang graduated
+from Jiangxi College of Finance and Economics (江西財經學院)
+(currently known as Jiangxi University of Finance and Economics
+(江西財經大學)) with a bachelor's degree in economics in 1987,
+from China University of Political Science and Law (中國政法大學)
+with a second bachelor's degree in law in 1989, and from Jiangxi
+University of Finance and Economics with a doctoral degree in
+economics in 2007. Mr. Jiang is currently a professor at the Law
+School of Jiangxi University of Finance and Economics and an
+independent director of Guangdong Dowstone Technology Co.,
+Ltd.(廣東道氏技術股份有限公司),Shenzhen Pagoda Industrial
+(Group)Corporation Limited (深圳百果園實業(集團)股份有限公司)
+and Shenzhen Minkave Technology Co.,Ltd.(深圳市名家匯科技
+股份有限公司) and non-executive director of Mubang High-tech
+Co.,Ltd.(江西沐邦高科股份有限公司) and an external director of
+Jiangxi Provincial Water Conservancy Investment Group Co., Ltd.
+(江西省水利投資集團有限公司).
+Jiang Yan-bo
+董事、監事及高級管理層
+Directors, Supervisors and Senior Management
+比亞迪股份有限公司
+42
+BYD Company Limited
+張敏先生,45歲,中國國籍,無境外居留權,博士
+研究生學歷,會計學教授。張先生於二零二零年九
+月八日獲委任為本公司獨立非執行董事。張先生於
+一九九九年畢業於北京物資學院,主修會計學,管
+理學學士學位,於二零零五年畢業於中南財經政法
+大學,主修會計學,獲管理學博士學位,並於二零
+一零年從北京大學光華管理學院博士後出站。張先
+生現任中國人民大學商學院會計系教授、博士生導
+師、會計系主任,並擔任北京韓建河山管業股份有
+限公司、國投資本股份有限公司、北京清新環境技
+術股份有限公司獨立董事。
+張敏
+蔡洪平先生,68歲,中國香港籍,本科學歷。蔡
+先生於二零二零年九月八日獲委任為本公司獨立非
+執行董事。蔡先生於一九八八年畢業於復旦大學,
+獲新聞學學士學位。蔡先生曾任中國石化上海石油
+化工股份有限公司辦公室主任;國務院國家體改委
+中國企業海外上市指導小組成員及中國H股公司董
+事會秘書聯席會議主席;百富勤投資銀行董事總經
+理;瑞士銀行亞洲區主席;德意志銀行亞太區主
+席。現任漢德資本主席、創始合夥人,並擔任中國
+東方航空股份有限公司、中遠海運發展股份有限公
+司、上海浦東發展銀行股份有限公司獨立董事。
+蔡洪平
+獨立非執行董事
+Mr. Zhang Min, aged 45, Chinese national with no right of abode
+overseas, doctoral degree holder and professor of accounting.
+Mr. Zhang was appointed as an independent non-executive
+director of the Company on 8 September 2020. Mr. Zhang
+graduated from Beijing Wuzi University (北京物資學院) in 1999
+with a bachelor's degree in management majoring in accounting,
+from Zhongnan University of Economics and Law (中南財經政法
+大學) in 2005 with a master's degree in management majoring in
+accounting, and completed his post-doctoral training in Peking
+University Guanghua School of Management in 2010. Mr. Zhang
+currently serves as the accounting professor, supervisor for Ph.D.
+candidates and accounting director of Business School, Renmin
+University of China as well as an independent director of Beijing
+HanjianHeshan Pipeline Co., Ltd. (北京韓建河山管業股份有限公司),
+SDIC Capital Co., Ltd.(國投資本股份有限公司),and Beijing SPC
+Environment Protection Tech Co., Ltd.(北京清新環境技術股份有限
+公司).
+SUPERVISORS
+Dong Jun-qing
+Mr. Dong Jun-qing,aged 88,Chinese national with no right of
+abode overseas, bachelor's degree holder, and a senior engineer
+at professor level. Mr. Dong graduated from Non-Ferrous Metal
+and Gold Faculty in Moscow, USSR (蘇聯莫斯科有色金屬與黃金學
+院) in 1959,with a bachelor's degree majoring in aluminum and
+magnesium metallurgy, and obtained the title of USSR engineer.
+Mr. Dong lectured at Non-Ferrous Metallurgy Faculty of the
+Northeast_University in the PRC (中國東北大學) and researched
+at Beijing Non-Ferrous Research Institute and was engaged in
+research and development work in the Group. He has been a
+Supervisor and the chairman of the Supervisory Committee since
+July 2002.
+蔣岩波
+李永釗先生,61歲,中國國籍,無境外居留權,本
+科學歷,研究員級高級工程師。李先生於一九八二
+年八月畢業於西安工業學院機械製造工藝與設備專
+業,獲學士學位。李先生曾歷任中國兵器工業集團
+公司國營第六一五廠技術員、室主任、副處長、處
+長、副廠長等職務,並兼任中外合資寶雞星寶機電
+公司總經理,二零零二年五月起擔任中國兵器工業
+集團公司國營第八四三廠廠長,二零一零年十月起
+擔任西北工業集團有限公司副總經理,西安北方秦
+川集團有限公司執行董事;二零一九年擔任西北工
+業集團有限公司科技委委員,西安北方秦川集團有
+限公司執行董���、黨委書記;於二零二一年十月正
+式退休;彼於二零零八年六月起擔任本公司監事。
+李永釗
+executive director, Party secretary of Xi'an Northern Qinchuan
+Company Ltd. in 2019, and retired in October 2021 and he has
+been a supervisor of the Company since June 2008.
+Mr. Li worked as technician, office head, deputy director, director,
+deputy plant manager and held other posts in state-owned Factory
+615 of China Industries Group Corporation (中國兵器工業集團公
+司). He also acted as the general manager of the Sino-foreign
+joint venture named Baoji Xingbao Machinery & Electric Co., Ltd.
+(寶雞星寶機電公司), plant manager of state-owned Factory 843 of
+China Industries Group Corporation since May 2002, vice general
+manager of China North Industries Group Corporation(I
+業集團有限公司),executive director of Xi'an Northern Qinchuan
+Company Ltd.(西安北方秦川集團有限公司) since October 2010;
+member of science and technology committee of China North
+Industries Group Corporation (西北工業集團有限公司),and the
+degree in mechanical manufacturing technology and equipment.
+Mr. Li Yong-zhao,aged 61,Chinese national with no right of
+abode overseas, bachelor's degree holder, and a researcher
+level senior engineer. Mr. Li graduated from Xi'an Institute of
+Technology(西安工業學院) in August 1982 with a bachelor's
+Zhang Min
+Li Yong-zhao
+43
+Annual Report 2021
+二零二一年年報
+董俊卿先生,88歲,中國國籍,無境外居留權,本
+科學歷,教授級高級工程師。董先生於一九五九年
+畢業於蘇聯莫斯科有色金屬與黃金學院鋁鎂冶煉專
+業,獲學士學位及蘇聯工程師稱號。董先生曾在中
+國東北大學有色冶金系任教、北京有色金屬研究總
+院從事研究工作,並於本集團從事研發工作,彼於
+二零零二年七月起擔任本公司監事及監事會主席。
+董俊卿
+監事
+蔣岩波先生,56歲,中國國籍,無境外居留權,
+博士研究生學歷,法學教授。蔣先生於二零二零年
+九月八日獲委任為本公司獨立非執行董事。蔣先生
+於一九八七年畢業於江西財經學院(現江西財經大
+學),獲經濟學學士學位,一九八九年畢業於中國政
+法大學,獲法學第二學士學位,二零零七年畢業於
+江西財經大學,獲經濟學博士學位。蔣先生現任江
+西財經大學法學院教授,並擔任廣東道氏技術股份
+有限公司、深圳百果園實業(集團)股份有限公司、
+深圳市名家匯科技股份有限公司獨立董事以及江西
+沐邦高科股份有限公司非執行董事、江西省水利投
+資集團有限公司外部董事。
+Directors, Supervisors and Senior Management
+董事、監事及高級管理層
+Mr.Cai Hong-ping,aged 68,Chinese (Hong Kong) national,
+bachelor's degree holder. Mr. Cai was appointed as an
+independent non-executive director of the Company on 8
+September 2020. Mr. Cai graduated from Fudan University (復旦
+大學) in 1988 with a bachelor's degree in mass communications.
+Mr. Cai served as an office director of Sinopec Shanghai
+Petrochemical Company Limited (中國石化上海石油化工股份有限公
+]), member of the Overseas Listing Team for Chinese Enterprises
+under the Restructuring Committee of the State Council (
+院國家體改委中國企業海外上市指導小組),the chairman of the
+Joint Committee of Board Secretaries for H Share Companies in
+the PRC, managing director of the investment banking division
+of Peregrine Investments Holdings Limited, chairman of the
+investment banking division of UBS AG in Asia and chairman
+of Deutsche Bank (德意志銀行) in the Asia Pacific region. He
+currently serves as the chairman and founding partner of AGIC
+(漢德資本),and an independent director of China Eastern
+Airlines Corporation Limited (中國東方航空股份有限公司),COSCO
+SHIPPING Development Co., Ltd. (中遠海運發展股份有限公司) and
+Shanghai Pudong Development Bank Co., Ltd. (上海浦東發展銀行
+股份有限公司).
+Cai Hong-ping
+INDEPENDENT NON-EXECUTIVE DIRECTORS
+NON-EXECUTIVE DIRECTORS
+董事、監事及高級管理層
+Directors, Supervisors and Senior Management
+BYD Company Limited
+比亞迪股份有限公司
+40
+王先生為享受國務院特殊津貼的科技專家,曾榮獲
+「二零零八年CCTV中國經濟年度人物年度創新獎」、
+「二零一四年紮耶德未來能源獎個人終身成就獎」、
+「二零一六年聯合國開發計劃署「可持續發展顧問委
+員會」創始成員」、「“十三五”國家發展規劃專家委員
+會委員」、「二零一九年第五屆全國非公有制經濟人
+士優秀中國特色社會主義事業建設者」、「深圳經濟
+特區建立40周年創新創業人物和先進模範人物」、
+「全國抗擊新冠肺炎疫情民營經濟先進個人」等獎項。
+Lv Xiang-yang
+王傳福先生,56歲,中國國籍,無境外居留權,
+碩士研究生學歷,高級工程師。王先生於一九八七
+年畢業於中���工業大學(現為中南大學),主修冶金
+物理化學,獲學士學位;並於一九九零年畢業於中
+國北京有色金屬研究總院,主修冶金物理化學,獲
+碩士學位。王先生歷任北京有色金屬研究總院副主
+任、深圳市比格電池有限公司總經理,並於一九九
+五年二月與呂向陽先生共同創辦深圳市比亞迪實業
+有限公司(「比亞迪實業」,於二零零二年六月十一
+日變更為比亞迪股份有限公司)任總經理;現任本
+公司董事長、執行董事兼總裁,負責本公司一般營
+運及制定本公司各項業務策略,並擔任比亞迪電子
+(國際)有限公司的非執行董事及主席、比亞迪半導
+體股份有限公司董事長、深圳騰勢新能源汽車有限
+公司(前稱「深圳比亞迪戴姆勒新技術有限公司」)董
+事、中鐵工程設計諮詢集團有限公司董事、人人公
+司(Renren Inc)獨立董事、南方科技大學理事。
+執行董事
+Mr. Wang, being a technology expert, enjoyed special allowances
+from the State Council. He was awarded “The 2008 CCTV Man of
+the Year China Economy Innovation Award”,“2014 Zayed Future
+Energy Prize Lifetime Achievement Award, "a founding member
+of the 2016 United Nations Development Programme's“Advisory
+Council for Sustainable Development”(二零一六年聯合國開發計劃
+署”可持續發展顧問委員會”創始成員),“a member of the “13th Five
+Year Plan" National Development Planning Expert Committee” ("+
+三五”國家發展規劃專家委員會委員),“an Outstanding Builder of
+Socialism with Chinese Characteristics in the 5th National Non-
+Public Economic Sector in 2019”(二零一九年第五屆全國非公有制
+經濟人士優秀中國特色社會主義事業建設者),“a model innovator and
+entrepreneur and advanced model figure for the 40th Anniversary
+of the Establishment of the Shenzhen Special Economic Zone"
+(深圳經濟特區建立40周年創新創業人物和先進模範人物),National
+Advanced Person in the Private Economy for the Fight against
+COVID-19 Pandemic (全國抗擊新冠肺炎疫情民營經濟先進個人) etc.
+Mr. Wang Chuan-fu,aged 56, Chinese national with no right of
+abode overseas, master's degree holder and senior engineer. Mr.
+Wang graduated from Central South University of Technology (+
+南工業大學) (currently known as Central South University (中南
+大學)) in 1987 with a bachelor's degree majoring in metallurgy
+physical chemistry, and then graduated from Beijing Non-Ferrous
+Research Institute in the PRC (中國北京有色金屬研究總院) in 1990
+with a master's degree majoring in metallurgy physical chemistry.
+Mr. Wang held positions as vice supervisor in Beijing Non-Ferrous
+Research Institute, general manager in Shenzhen Bi Ge Battery
+Co. Limited(深圳市比格電池有限公司). In February 1995,he
+founded Shenzhen_BYD_Battery Company Limited (深圳市比亞迪
+實業有限公司) (“BYD Battery") (became BYD Company Limited
+on 11 June 2002) with Mr. Lv Xiang-yang and took the position
+of general manager. He is the Chairman, Executive Director and
+President of the Company, and is responsible for the general
+operations of the Company and the development of business
+strategies for the Company. He is a non-executive director and the
+chairman of BYD Electronic (International) Company Limited, the
+Chairman of BYD Semiconductor Co., Ltd, a director of Shenzhen
+DENZA New Energy Automotive Co., Ltd. (深圳騰勢新能源汽車有限
+公司) (formerly known as “Shenzhen BYD Daimler New Technology
+Co.,Ltd.”(深圳比亞迪戴姆勒新技術有限公司), a director of China
+Railway Engineering Consulting Group Co., Ltd. (中鐵工程設計
+諮詢集團有限公司),an independent director of Renren Inc., and
+a director of Southern University of Science and Technology of
+China (南方科技大學).
+Wang Chuan-fu
+EXECUTIVE DIRECTOR
+Directors, Supervisors and Senior Management
+董事、監事及高級管理層
+王傳福
+44
+Mr. Lv Xiang-yang, aged 60,Chinese national with no right of
+abode overseas, economist,cousin of Mr. Wang Chuan-fu.Mr.
+Lv Xiang-yang worked at Chaohu Branch of the People's Bank of
+China. In February 1995, he founded BYD Battery with Mr. Wang
+Chuan-fu and currently is the Vice Chairman and a non-executive
+chairman of Guangdong Manufacturers Association (
+董事、監事及高級管理層
+Directors, Supervisors and Senior Management
+41
+Annual Report 2021
+二零二一年年報
+夏佐全先生,59歲,中國國籍,無境外居留權,碩
+士研究生學歷。夏先生於一九八五年至一九八七年
+期間在北京鋼鐵學院(現為北京科技大學)修讀計算
+器科學;並於二零零七年獲北京大學光華管理學院
+高級工商管理碩士學位;夏先生曾在中國人民保險
+公司湖北分公司工作,並於一九九七年加入比亞迪
+實業;曾任本公司執行董事、副總裁,現任本公司
+非執行董事,並擔任深圳市正軒投資有限公司、深
+圳正軒前海股權投資基金管理有限公司、北京正軒
+投資有限責任公司董事長、深圳市優必選科技有限
+公司董事、深圳市聯合利豐供應鏈管理有限公司董
+事、重慶零壹空間科技集團有限公司董事、安諾優
+達基因科技(北京)有限公司董事長、中國宇華教育
+集團有限公司獨立董事、深圳市正軒創客空間科技
+有限公司執行(常務董事及深圳市蓮夏慈善基金會
+副理事長等職。
+夏佐全
+Director of the Company and also the chairman of Youngy
+Investment_Holding Group Co.,Ltd. (融捷投資控股集團有限公司),
+chairman of Youngy Co., Ltd. (融捷股份有限公司),chairman of
+Youngy Health Technology Co., Ltd. (融捷健康科技股份有限公司),
+chairman of Onyx International Inc.(廣州文石信息科技有限公司),
+chairman of Nanjing Regenecore Biotechnology Co., Ltd. (A
+捷康生物科技有限公司), chairman of Youngy Education Technology
+Co., Ltd. (融捷教育科技有限公司), a director of Anhua Agricultural
+Insurance Company Limited (安華農業保險股份有限公司), honorary
+(北京鋼鐵學院) (now known as University of Science & Technology
+Beijing (北京科技大學)) from 1985 to 1987 and he graduated from
+Guanghua School of Management of Peking University (★ª
+光華管理學院) with an EMBA in 2007. Mr. Xia worked in the Hubei
+branch of The People's Insurance Company and joined BYD
+Battery in 1997 and held positions as an executive Director and
+Vice President of the Company. He is a non-executive director of
+the Company and chairman of Shenzhen Zhengxuan Investment
+(Holdings) Co.,Ltd. (深圳市正軒投資有限公司),Shenzhen
+Zhengxuan Qianhai Equity Investment Fund Management Co., Ltd.
+(深圳正軒前海股權投資基金管理有限公司) and Beijing Zhengxuan
+Investment Co., Ltd.(北京正軒投資有限責任公司), a director of
+Shenzhen UBTECH Robotics Co., Ltd. (深圳市優必選科技有限公司),
+a director of Shenzhen Uni-Fortune Supply Chain Service Co., Ltd.
+(深圳市聯合利豐供應鏈管理有限公司), a director of Chongqing One
+Space Technology Company Limited (重慶零壹空間科技集團有限
+公司),chairman of Annuo Youda Gene Technology (Beijing) Co.
+Ltd. (安諾優達基因科技(北京)有限公司),an independent director
+of China Yuhua Education Corporation Limited (中國宇華教育集團
+有限公司), executive (managing) director of Shenzhen Zhengxuan
+Makerspace Technology Limited (深圳市正軒創客空間科技有限公
+司),vice chairman of Shenzhen Lianxia Charity Foundation (深圳
+市蓮夏慈善基金會).
+Xia Zuo-quan
+呂向陽先生,60歲,中國國籍,無境外居留權,經
+濟師,為王傳福先生的表哥。呂向陽先生曾在中國
+人民銀行巢湖分行工作,一九九五年二月與王傳福
+先生共同創辦比亞迪實業,現任本公司副董事長兼
+非執行董事,並擔任融捷投資控股集團有限公司董
+事長、融捷股份有限公司董事長、融捷健康科技股
+份有限公司董事長、廣州文石信息科技有限公司董
+事長、南京融捷康生物科技有限公司董事長、融捷
+教育科技有限公司董事長、安華農業保險股份有限
+公司董事、廣東省製造業協會名譽會長、廣東省產
+業發展促進會名譽會長等職。
+呂向陽
+非執行董事
+so on.
+業協會),honorary chairman of Guangdong Association for the
+Promotion of Industrial Development (廣東省產業發展促進會) and
+Mr. Xia Zuo-quan, aged 59, Chinese national with no right
+of abode overseas, master's degree holder. Mr. Xia studied
+computer science in Beijing Institute of Iron and Steel Engineering
+BYD Company Limited
+比亞迪股份有限公司
+Annual Report 2021
+二零二一年年報
+董事、監事及高級管理層
+Mr. Luo Hong-bin,aged 56,Chinese national with no right of
+abode overseas, master's degree holder and a professorate senior
+engineer. Mr. Luo graduated from Air Force Engineering University
+in 1990,with a master's degree in computer application.Mr.
+Luo joined the Group in October 2003. He served various posts
+including manager of the third Electronics Sub-division of Division
+15,director of the Institute of Electric vehicles, president of the
+Electric Power Research Institute, general manager of Division 14,
+and general manager of Division 17. He currently is a Senior Vice
+President of the Company, the chairman of Fudi Power Co., Ltd.
+(弗迪動力有限公司) and a director of BYD Charity Foundation.
+Luo Hong-bin
+Mr. Liu_Huan-ming,aged 59,Chinese national with no right of
+abode overseas, master's degree holder, and a senior engineer.
+Mr. Liu graduated from Northeastern Institute of Technology (
+北工學院) (currently known as Northeastern University (東北大學))
+in 1988 with a bachelor's degree and later a master's degree in
+Metallurgical physical chemistry. Mr. Liu worked for the Iron and
+Steel Institute of Panzhihua Iron and Steel Company in Sichuan (
+川攀枝花鋼鐵公司鋼鐵���究院) and Benxi Iron and Steel Company
+in Liaoning (遼寧本溪鋼鐵公司).He joined BYD Battery in March
+1997 and served as a general manager of Human Resources
+Office and Department of New Energy Vehicle Direct Sale
+Management. He is currently a Vice President of the Company,
+and a general manager of Division 3 of the Rail Department of the
+Company, and a director of BYD Charity Foundation.
+Liu Huan-ming
+Directors, Supervisors and Senior Management
+董事、監事及高級管理層
+47
+Annual Report 2021
+二零二一年年報
+何龍先生,50歲,中國國籍,無境外居留權,碩
+士研究生學歷。何先生於一九九九年畢業於北京大
+學,先後獲得應用化學理學學士學位、法學學士學
+位及無機化學碩士學位。何先生於一九九九年七月
+加入迪比亞實業,曾任第一事業部、第二事業部品
+質部經理,第二事業部副總經理,佛山市金輝高科
+光電材料有限公司副董事長,現任本公司副總裁、
+弗迪實業有限公司董事長,並擔任西藏日喀則紮布
+耶鋰業高科技有限公司董事、青海鹽湖比亞迪資源
+開發有限公司董事、中冶瑞木新能源科技有限公司
+董事及比亞迪慈善基金會理事。
+何龍
+廉玉波先生,58歲,中國國籍,無境外居留權,碩
+士研究生學歷,教授級高級工程師。廉先生於一九
+八七年七月畢業於南京航空航天大學,主修飛機製
+造工程,獲學士學位;並於二零零零年九月獲南京
+大學高級工商管理專業碩士學位。曾在中國汽車研
+究中心工作,歷任上汽集團儀徵汽車有限公司總工
+程師、上海同濟同捷汽車設計公司常務副總經理,
+廉先生於二零零四年二月加入本集團,現任本公司
+執行副總裁、汽車工程研究院院長、弗迪精工有限
+公司董事長、比亞迪豐田電動車科技有限公司董
+事、深圳騰勢新能源汽車有限公司董事、比亞迪慈
+善基金會理事。
+廉玉波
+Mr. He Long,aged 50,Chinese national with no right of abode
+overseas, master's degree holder. Mr. He graduated from Peking
+University in 1999 and obtained a bachelor's degree of science
+in applied chemistry, an LLB and a master's degree in inorganic
+chemistry.Mr. He joined BYD Battery in July 1999 and held
+positions as quality control manager of Division 1 and Division
+2,deputy general manager of Division 2 and vice-chairman of
+Foshan Jinhui Hi-Tech Optoelectronic Material Co., Ltd. (佛山市金
+輝高科光電材料有限公司). He is a Vice President of the Company,
+chairman of Findreams Industry Co., Ltd. (弗迪實業有限公司),a
+director of Tibet Shigatse Zhabuye Lithium High-Tech Co., Ltd.
+(西藏日喀則紮布耶鋰業高科技有限公司), a director of Qinghai Salt
+Lake BYD Resources Development Co.,Ltd. (青海鹽湖比亞迪資
+源開發有限公司), a director of China Metallurgical New Energy
+Technology Co., Ltd (中冶瑞木新能源科技有限公司) and a director
+of BYD Charity Foundation.
+He Long
+with a bachelor's degree majoring in aircraft manufacturing
+engineering. In September 2000, he obtained an EMBA degree
+from Nanjing University. Worked in China Automotive Research
+Center (中國汽車研究中心),and served as the chief engineer
+of SAIC Motor Yizheng Automobile Co., Ltd. (上汽集團儀徵汽車
+有限公司),and executive deputy general manager of Shanghai
+Tongji Tongjie Automotive Design Company (上海同濟同捷汽車
+設計公司),Mr. Lian joined the Group in February 2004 and is
+an Executive Vice President of the Company, president of the
+Automotive Engineering Research Institute and chairman of Fudi
+Jinggong Co.,Ltd. (弗迪精工有限公司), a director of BYD TOYOTA
+EV Technology Co.,Ltd.(比亞迪豐田電動車科技有限公司) and
+Shenzhen DENZA New Energy Automotive Co., Ltd. (深圳騰勢新能
+源汽車有限公司) and a director of BYD Charity Foundation.
+Lian Yu-bo
+董事、監事及高級管理層
+Directors, Supervisors and Senior Management
+Directors, Supervisors and Senior Management
+Foundation, currently the supervisor and deputy head of the Chief
+Executive Office.
+王珍
+王珍女士,46歲,中國國籍,無境外居留權,本科
+學歷。王女士一九九八年畢業於廣東外語外貿大學
+(原名為廣州外國語學院),主修西班牙語,獲學士
+學位。王女士於一九九八年加入比亞迪實業,歷任
+海外商務部經理、深圳騰勢新能源汽車有限公司(前
+稱「深圳比亞迪戴姆勒新技術有限公司」)行政人事
+副總裁、總裁辦公室主任、軌道交通產業辦公室主
+任、比亞迪慈善基金會秘書長、比亞迪坪山地區總
+經理,現任本公司監事及人力資源處總經理,並擔
+任汕頭市雲軌交通有限公司監事、濟寧市雲軌交通
+有限公司監事及比亞迪慈善基金會理事長。
+唐梅(自二零二一年三月二十五日獲委任)
+唐梅女士,39歲,中國國籍,無境外居留權,本科
+學歷。唐女士二零零五年六月畢業於中南大學,主
+修英語,獲學士學位。唐女士於二零零五年加入本
+集團,歷任總裁秘書、本集團文化宣傳部經理、本
+集團接待中心經理、比亞迪慈善基金會執行長,現
+任本公司監事及總裁辦公室副主任。
+SENIOR MANAGEMENT
+Wang Chuan-fang
+Li Ke
+is an Executive Vice President of the Company and vice chairman
+of BYD Charity Foundation.
+高級管理層
+李柯
+李柯女士,52歲,中國國籍,擁有美國居留權,
+本科學歷。李女士於一九九二年畢業於復旦大學,
+獲統計學學士學位。李女士曾任職於亞洲資源,並
+於一九九六年九月加入比亞迪實業,歷任市場部經
+理、銷售總經理、比亞迪電子國際有限公司執行董
+事及行政總裁等職,現任本公司執行副總裁及比亞
+迪慈善基金會副理事長。
+46
+BYD Company Limited
+比亞迪股份有限公司
+Ms. Li Ke,aged 52, Chinese national with the right of abode
+in the US,bachelor's degree holder.Ms. Li graduated from
+Fudan University in 1992 with a bachelor's degree in statistics.
+Ms. Li worked at Asia Resources (亞洲資源) and joined BYD
+Battery in September 1996. She served various positions
+including Marketing Manager and General Sales Manager,
+executive director and chief executive officer of BYD Electronic
+(International) Company Limited (比亞迪電子(國際)有限公司) and
+Mr. Wang Chuan-fang, aged 61, Chinese national with no right
+of abode overseas, is the elder brother of Mr. Wang Chuan-fu.
+Mr. Wang joined BYD Battery in August 1996 and held positions
+including Personnel Manager and Logistics Manager. He currently
+is a Vice President of the Company, general manager of Logistics
+Division, general manager of Division 22 and a director of
+Yinchuan Sky Rail Operation Co., Ltd. (銀川雲軌運營有限公司) and
+a director of BYD Charity Foundation.
+Mr. Lian Yu-bo,aged 58, Chinese national with no right of
+abode overseas, master's degree holder, and a professorate
+senior engineer. Mr. Lian graduated from Nanjing University of
+Aeronautics and Astronautics (南京航空航天大學) in July 1987,
+劉煥明先生,59歲,中國國籍,無境外居留權,碩
+士研究生學歷,高級工程師。劉先生於一九八八年
+畢業於東北工學院(現為東北大學),主修冶金物理
+化學,先後取得學士學位和碩士學位。劉先生曾在
+四川攀枝花鋼鐵公司鋼鐵研究院、遼寧本溪鋼鐵公
+司任職,並於一九九七年三月加入比亞迪實業,曾
+任人力資源處總經理及新能源車直營管理事業部總
+經理,現任本公司副總裁、軌道業務第三事業部總
+經理及比亞迪慈善基金會理事等職。
+何志奇
+何志奇先生,50歲,中國國籍,無境外居留權,碩
+士學歷。何先生於一九九八年畢業於中科院長春應
+用化學研究所,主修無機化學,獲碩士學位;二零
+一零年獲中歐工商管理學院工商管理碩士學位。何
+先生於一九九八年七月加入比亞迪實業,歷任公司
+中研部、品質部經理、第四事業部總經理、採購處
+總經理等職,現任本公司副總裁、乘用車事業群首
+席運營官。
+Ms. Tang Mei, aged 39, is a Chinese national with no right of
+abode overseas and a bachelor's degree holder. Ms. Tang
+graduated from Central South University (中南大學) in June 2005,
+with a bachelor's degree in English. Ms. Tang joined the Group in
+2005 and held positions as secretary of the President, a manager
+in Cultural Propaganda Department of the Group, a manager in
+reception center of the Group, executive officer of BYD Charity
+Tang Mei (appointed with effect from 25 March 2021)
+Wang Zhen
+Directors, Supervisors and Senior Management
+董事、監事及高級管理層
+王傑先生,55歲,中國國籍,無境外居留權,本
+科學歷。王先生於一九八八年畢業於西安冶金建築
+學院(現為西安建築科技大學),主修工業企業自動
+化,獲工學學士學位;曾在冶金部嘉興冶金機械廠
+等單位任職。王先生於一九九六年九月加入比亞迪
+實業,歷任銷售經理、銷售總監、營銷本部副總經
+理等職,現任本公司副總裁,商用車事業群首席執
+行官及比亞迪慈善基金會理事。
+45
+黃江鋒先生,42歲,中國國籍,無境外居留權,
+本科學歷。黃先生於二零零三年畢業於中南財經政
+法大學,獲行政管理專業學士學位。黃先生曾任職
+於中國石化湖南郴州石油分公司、東莞徐福記食品
+有限公司、國信證券廣州營業部,二零零八年八月
+至今在融捷投資控股集團有限公司工作,彼於二零
+一四年九月起擔任本公司監事,現同時擔任融捷投
+資控股集團有限公司董事、副總裁、深圳前海融捷
+金融服務有限公司總經理、深圳前海融捷高新技術
+投資有限公司監事、廣東融捷融資服務有限公司經
+理、廣東融捷融資租賃有限公司董事兼經理、廣東
+融捷供應鏈管理有限公司經理、安徽融捷投資有限
+公司董事、深圳融捷���產管理有限公司董事、融捷
+股份有限公司監事長、廣州融捷股權投資有限公司
+董事、慢錢科技控股集團有限公司董事、康定市天
+捷建材有限公司經理兼執行董事、成都融捷鋰業科
+技有限公司董事長、合肥融捷金屬科技有限公司董
+事及廣州經典裝飾設計工程有限公司監事。
+黃江鋒
+團有限公司), manager and executive director of Kangding Tianjie
+Construction Material Co., Ltd (康定市天捷建材有限公司), chairman
+of Chengdu Youngy Lithium Technology Co., Ltd(成都融捷鋰業科
+技有限公司),director of Hefei Youngy Metal Technology Co., Ltd
+(合肥融捷金屬科技有限公司) and supervisor of Guangzhou Classic
+Decoration Design Engineering Co., Ltd(廣州經典裝飾設計工程有限
+公司).
+Mr. Huang Jiang-feng, aged 42, Chinese national with no right of
+abode overseas, bachelor's degree holder. Mr. Huang graduated
+from Zhongnan University of Economics and Law (中南財經政法大
+學) in 2003 with a bachelor's degree in administration. Mr. Huang
+held positions in Sinopec Chenzhou Petroleum Branch in Hunan
+(中國石化湖南郴州石油分公司),Dongguan Hsu Fu Chi Foods
+Co.,Ltd.(東莞徐福記食品有限公司) and Guangzhou Office (廣州
+營業部) of Guosen Securities. He has been working in Youngy
+Investment Holding Group Co.,Ltd. (融捷投資控股集團有限公司)
+since August 2008, and has been a supervisor of the Company
+since September 2014 and now serves as a director and Vice
+President of Youngy Investment Holding Group Co., Ltd. (RA
+控股集團有限公司), general manager of Shenzhen Qianhai Youngy
+Financial Services Company Limited (深圳前海融捷金融服務有限公
+), a supervisor of Shenzhen Qianhai Youngy High Technology
+Investment Company Limited (深圳前海融捷高新技術投資有限公
+), manager of Guangdong Youngy Financing Service Company
+Limited(廣東融捷融資租賃有限公司),director and manager of
+Guangdong Youngy Financing Renting Company Limited (
+融捷融資租賃有限公司),manager of Guangdong Youngy Supply
+Chain Management Co.,Ltd. (廣東融捷供應鏈管理有限公司),
+director of Anhui Youngy Investment Co., Ltd (安徽融捷投資有限公
+司),director of Shenzhen Youngy Asset Management Co., Ltd (深
+圳融捷資產管理有限公司), chairman of the supervisory committee
+of Youngy Co., Ltd (融捷股份有限公司) director of Guangzhou
+Youngy Equity Investment Co.,Ltd (廣州融捷股權投資有限公司),
+director of Manqian Network Technology Limited (
+劉煥明
+Huang Jiang-feng
+Annual Report 2021
+二零二一年年報
+王傑
+Ms. Wang Zhen,aged 46,Chinese national with no right of
+abode overseas, bachelor's degree holder. Ms. Wang graduated
+from Guangdong University of Foreign Studies (廣東外語外
+貿大學) (formerly known as “Guangzhou Institute of Foreign
+Languages”(廣州外國語學院)) in the PRC in 1998,majoring in
+Spanish and obtained a bachelor's degree. Ms. Wang joined BYD
+Battery in 1998 and served as a manager in overseas Ministry
+of Commerce, Vice President of Administrative Personnel of
+Shenzhen DENZA New Energy Automotive Co., Ltd. (深圳騰勢新
+能源汽車有限公司) (formerly known as “Shenzhen BYD Daimler
+New Technology Co.,Ltd.” (深圳比亞迪戴姆勒新技術有限公司)),
+officer of the President's office, director of the rail transit industry
+office, Secretary-General of BYD Charity Foundation and general
+manager of BYD Company (Pingshan District). She is a Supervisor
+and the general manager of Human Resources Office of the
+Company, a supervisor of Shantou City Sky Rail Transportation
+Co., Ltd. (汕頭市雲軌交通有限公司), a supervisor of Jining City Sky
+Rail Transportation Co.,Ltd.(濟寧市雲軌交通有限公司) and the
+chairman of BYD Charity Foundation.
+BYD Company Limited
+比亞迪股份有限公司
+任林先生,55歲,中國國籍,無境外居留權,本科
+學歷,高級工程師。任先生於一九八九年畢業於北
+京理工大學,主修機械設計製造及其自動化,獲學
+士學位;工作期間曾多次於日本、清華大學、北京
+理工大學進修。任先生曾在陝西秦川汽車有限責任
+公司任職。任先生於二零零三年一月加入本集團,
+歷任汽車工程院常務副院長等職,現任本公司副總
+裁、第二十一事業部總經理及比亞迪慈善基金會理
+事。
+王傳方
+王傳方先生,61歲,中國國籍,無境外居留權,為
+王傳福先生之兄。王先生於一九九六年八月加入比
+亞迪實業,歷任人事部經理、後勤部經理;現任本
+公司副總裁、後勤處總經理、第二十二事業部總經
+理,並擔任銀川雲軌運營有限公司董事及比亞迪慈
+善基金會理事。
+48
+羅紅斌
+Directors, Supervisors and Senior Management
+董事、監事及高級管理層
+Ren Lin
+Mr.Ren Lin,aged_55,Chinese national with no right of abode
+overseas,bachelor's degree holder, and a senior engineer.Mr.
+Ren graduated from Beijing Institute of Technology in 1989, with a
+bachelor's degree majoring in mechanical design, manufacturing
+and automation. He went to Japan, Tsinghua University (★
+學) and Beijing Institute of Technology (北京理工大學) for multiple
+times for further study during his terms of office. Mr. Ren once
+worked in Shaanxi Qinchuan Motor Co., Ltd. (陝西秦川汽車有限責
+任公司). He joined the Group in January 2003 and held positions
+including as executive Vice President of Automotive Engineering
+Institute (汽車工程院).He currently is a Vice President of the
+Company, general manager of Division 21 and a director of BYD
+Charity Foundation.
+Wang Jie
+Mr. Wang Jie,aged 55, Chinese national with no right of abode
+overseas,bachelor's degree holder.Mr.Wang graduated from
+Xi'an Institute of Gold Mining and Construction (西安冶金建築學院)
+(now known as Xi'an University of Architecture and Technology (
+安建築科技大學)) in 1988 with a bachelor's degree in engineering,
+majoring in Industry Enterprises Automatisation; Mr. Wang once
+worked in Jiaxing Metallurgy Manufacture Factory of Metallurgy
+Department (冶金部嘉興冶金機械廠) and other institutions. Mr.
+Wang joined BYD Battery in September 1996, and he served
+various positions including sales manager, sales director and
+deputy general manager of the Company's Sales & Marketing
+Division. He currently is a Vice President of the Company and
+the CEO of Commercial Vehicles Division of the Company and a
+director of BYD Charity Foundation.
+He Zhi-qi
+Mr. He Zhi-qi,aged 50,Chinese national with no right of abode
+overseas,master's degree holder. Mr. He graduated from
+Changchun Institute of Applied Chemistry Chinese Academy of
+Sciences(中科院長春應用化學研究所) in 1998,with a master's
+degree majoring in inorganic chemistry, and then graduated from
+China Europe International Business School (中歐工商管理學院)
+with an MBA in 2010. Mr. He joined BYD Battery in July 1998 and
+served various posts including central research manager, quality
+control manager, general manager of Division 4 and general
+manager of Purchasing Office of the Company. He currently is
+a Vice President of the Company and COO of Passenger Car
+Division of the Company.
+任林
+羅紅斌先生,56歲,中國國籍,無境外居留權,碩
+士研究生學歷,教授級高級工程師。羅先生於一九
+九零年畢業於空軍工程大學,主修計算機應用,獲
+碩士學位。羅先生於二零零三年十月加入本集團,
+歷任第十五事業部電子三部經理,電動汽車研究所
+所長,電力科學研究院院長,第十四事業部總經
+理,第十七事業部總經理等職務,現任本公司高級
+副總裁、弗迪動力有限公司董事長及比亞迪慈善基
+金會理事。
+DIRECTORS', SUPERVISORS' AND SENIOR
+董事、監事及高級管理層
+(Unit: RMB'000)
+從公司獲得的
+MANAGEMENT'S REMUNERATION DURING THE
+比亞迪股份有限公司
+Directors, Supervisors and Senior Management
+REPORTING PERIOD (CONTINUED)
+the Company
+Position held within the Company
+於本公司擔任的職務
+報告期內董事、監事和高級管理人員報酬
+(續)
+Total remuneration
+received from
+52
+Name
+BYD Company Limited
+4,449
+4,668
+Status of employment
+913
+7,962
+現任
+Vice President
+Vice President
+副總裁
+Vice President
+Incumbent
+現任
+Incumbent
+現任
+Incumbent
+7,541
+5,473
+現任
+報酬總額
+周亞琳
+(單位:人民幣千元)
+Ren Lin
+任林
+副總裁
+He Zhi-qi
+何志奇
+副總裁
+Wang Jie
+Vice President
+王傑
+副總裁
+Zhou Ya-lin
+Vice President
+Incumbent (effective from 25 March 2021)
+現任(自二零二一年三月二十五日起任職)
+Incumbent (effective from 29 March 2021)
+現任(自二零二一年三月二十九日起任職)
+Resigned (effective from 25 March 2021)
+離任(自二零二一年三月二十五日起離任)
+Incumbent
+副總裁
+Li Qian
+王傳方
+任職狀態
+Vice President
+副總裁
+Incumbent
+5,281
+現任
+Incumbent
+現任
+副總裁
+Vice President
+Vice President
+Incumbent
+現任
+Incumbent
+姓名
+Luo Hong-bin
+Vice President
+羅紅斌
+Wang Chuan-fang
+Vice President
+廉玉波
+劉煥明
+姓名
+Position held within the Company
+於本公司擔任的職務
+Wang Chuan-fu
+王傳福
+Chairman, Executive Director and President
+董事長、執行董事、總裁
+從公司獲得的
+Status of employment
+報酬總額
+任職狀態
+Incumbent
+(單位:人民幣千元)
+5,798
+Name
+現任
+Vice-chairman and non-executive Director
+Incumbent
+200
+呂向陽
+Xia Zuo-quan
+副董事長、非執行董事
+Non-executive Director
+現任
+Incumbent
+200
+夏佐全
+非執行董事
+現任
+Lv Xiang-yang
+(Unit: RMB’000)
+the Company
+received from
+Annual Report 2021
+二零二一年年報
+49
+Directors, Supervisors and Senior Management
+董事、監事及高級管理層
+Yang Dong-sheng (Since 29 March 2021)
+Mr. Yang Dong-sheng, aged 43, Chinese national with no right of
+abode overseas, master's degree holder, and a senior engineer.
+Mr. Yang graduated from Northeastern University (東北大學) in
+March 2005 with master's degree. Mr. Yang joined the Group
+in 2005 and has held positions including senior engineer in
+Automotive Engineering Research Institute, vice manager in the
+Chassis Division of the Automotive Engineering Research Institute,
+senior business secretary of the President, general manager of
+the Product and Technical Planning Division. He is presently the
+Vice President of the Company and the dean of Product Planning
+and New Automotive Technology Research Institute.
+Zhou Ya-lin
+Ms. Zhou Ya-lin, aged 45, Chinese national with no right of abode
+overseas,bachelor's degree holder.Ms. Zhou graduated from
+Jiangxi University of Finance and Economics (江西財經大學)in
+1999,with a bachelor's degree in economics.Ms. Zhou joined
+BYD Battery in March 1999 and is the Vice President and Chief
+Financial Officer of the Company. She is also the chief financial
+officer of BYD Electronic (International) Company Limited (E
+亞迪電子(國際)有限公司) (Stock Code: 0285), a director of BYD
+Semiconductor Co., Ltd, chairman of BYD Auto Finance Company
+Limited(比亞迪汽車金融有限公司),a supervisor of BYD TOYOTA
+EV Technology Co.,Ltd. (比亞迪豐田電動車科技有限公司) and a
+supervisor of BYD Charity Foundation, etc.
+楊冬生(自二零二一年三月二十九日獲委任)
+楊冬生先生,43歲,中國國籍,無境外居留權,
+碩士學歷,正高級工程師。楊先生二零零五年三月
+畢業於東北大學,獲碩士學位。楊先生於二零零五
+年加入本集團,歷任公司汽車工程研究院高級工程
+師、汽車工程研究院底盤部副經理、總裁高級業務
+秘書、產品及技術規劃處總經理等職,現任比亞迪
+集團副總裁兼產品規劃及汽車新技術研究院院長。
+周亞琳
+周亞琳女士,45歲,中國國籍,無境外居留權,
+本科學歷。周女士於一九九九年畢業於江西財經大
+學,獲經濟學學士學位。周女士於一九九九年三月
+加入比亞迪實業,現任本公司副總裁兼財務總監,
+並擔任比亞迪電子(國際)有限公司(股份代號:
+0285)財務總監、比亞迪半導體股份有限公司董
+事、比亞迪汽車金融有限公司董事長、比亞迪豐田
+電動車科技有限公司監事及比亞迪慈善基金會監事
+等職。
+BYD Company Limited
+50
+比亞迪股份有限公司
+Directors, Supervisors and Senior Management
+董事、監事及高級管理層
+Li Qian
+Mr. Li Qian,aged 49, Chinese national with no right of abode
+overseas,master's degree holder. Mr. Li graduated from Jiangxi
+University of Finance and Economics (江西財經大學) in 1997,with
+a bachelor's degree in economics. He graduated from Guanghua
+School of Management of the Peking University (北京大學光華管
+理學院) with an EMBA in July 2016. Mr. Li was the auditor and
+business adviser of PwC China and Arthur Andersen, respectively,
+and the representative of securities affairs of ZTE Corporation
+(中興通訊股份有限公司).Mr. Li joined the Group in August 2005
+and is the secretary to the Board of the Company, Company
+Secretary and general manager of Investment Department. He is
+also a member of the first GEM Listing Committee of Shenzhen
+Stock Exchange, a joint company secretary of BYD Electronic
+(International) Company Limited (比亞迪電子(國際)有限公司),
+a director of BYD Semiconductor Co., Ltd, a director of Tibet
+Shigatse Zhabuye Lithium High-Tech Co., Ltd.(西藏日喀則紮布
+耶鋰業高科技有限公司),chairman of Shenzhen BYD Electric Car
+Investment Co., Ltd. (深圳比亞迪電動汽車投資有限公司),chairman
+of Energy Storage Power Station (Hubei) Co., Ltd. (儲能電站(湖北)
+有限公司), a director of Meihao Chuxing (Hangzhou) Automotive
+Technology Co., Ltd. (美好出行(杭州)汽車科技有限公司), a director
+of SHENDIANNENG TECHNOLOGY GROUP CO. LTD (深電能科
+技集團有限公司), and a director of Shenzhen Faurecia Automotive
+Parts Co., Ltd. (深圳佛吉亞汽車部件有限公司).
+李黔
+李黔先生,49歲,中國國籍,無境外居留權,碩士
+研究生學歷。李先生於一九九七年畢業於江西財經
+大學,獲經濟學學士學位,二零一六年七月獲北京
+大學光華管理學院高級工商管理碩士學位。李先生
+曾於普華永道會計師事務所、安達信會計師事務所
+分別擔任核數師及業務顧問,並於中興通訊股份有
+限公司擔任證券事務代表;李先生於二零零五年八
+月加入本集團,現任本公司董事會秘書、公司秘書
+及投資處總經理,並擔任深圳證券交易所第一屆創
+業板上市委員會委員、比亞迪電子(國際)有限公
+司之聯席公司秘書、比亞迪半導體股份有限公司董
+事、西藏日喀則紮布耶鋰業高科技有限公司董事、
+深圳比亞迪電動汽車投資有限公司董事長、儲能電
+站(湖北)有限公司董事長、美好出行(杭州)汽車科
+技有限公司董事、深��能科技集團有限公司董事及
+深圳佛吉亞汽車部件有限公司董事。
+Annual Report 2021
+二零二一年年報
+Directors, Supervisors and Senior Management
+董事、監事及高級管理層
+51
+DIRECTORS', SUPERVISORS' AND SENIOR
+MANAGEMENT'S REMUNERATION DURING THE
+REPORTING PERIOD
+報告期內董事、監事和高級管理人員報酬
+Total remuneration
+Cai Hong-ping
+副總裁
+Independent non-executive Director
+200
+Supervisor
+Incumbent
+100
+監事
+現任
+Supervisor
+Incumbent
+3,174
+王珍
+監事
+現任
+Tang Mei
+唐梅
+Wang Zhen
+Supervisor
+監事
+Vice President
+楊冬生
+副總裁
+Supervisor
+監事
+Li Ke
+李柯
+副總裁
+Lian Yu-bo
+副總裁
+He Long
+何龍
+Liu Huan-ming
+Yang Dong-sheng
+黃江鋒
+Huang Jiang-feng
+現任
+蔡洪平
+獨立非執行董事
+現任
+Zhang Min
+Independent non-executive Director
+Incumbent
+200
+張敏
+獨立非執行董事
+現任
+Jiang Yan-bo
+Independent non-executive Director
+Incumbent
+200
+蔣岩波
+獨立非執行董事
+現任
+Dong Jun-qing
+董俊卿
+Supervisor and chairman of the supervisory committee
+監事、監事會主席
+Incumbent
+0/2
+現任
+Li Yong-zhao
+Supervisor
+Incumbent
+100
+李永釗
+監事
+Incumbent
+100
+0/1
+薪酬委員會;
+財務總監
+Chief Financial Officer
+Total
+李黔
+夏佐全
+15/15
+0/1
+0/2
+Independent non-executive director
+獨立非執行董事
+Secretary to the Board, Company Secretary
+Cai Hong-ping
+15/15
+1/1
+Zhang Min
+張敏
+15/15
+0/1
+Jiang Yan-bo
+蔣岩波
+15/15
+1/1
+蔡洪平
+12 12 12-
+董事會秘書、公司秘書
+5,194
+directors and non-executive directors should attend general
+meetings. Given some independent non-executive directors and
+non-executive directors were unable to travel and had other
+important business engagement as a result of COVID-19 outbreak
+during relevant periods, not all of them attended the annual
+general meeting held on 8 June 2021 and extraordinary general
+meetings held on 16 June 2021 and 30 November 2021.
+Code provision A.6.7 stipulates that independent non-executive
+Code provision A.2.1 provides that the roles of chairman and chief
+executive officer should be separate and should not be performed
+by the same individual. Mr. Wang Chuan-fu is the Chairman and
+Chief Executive Officer of the Company. The Board considers that
+this structure will not impair the balance of power and authority
+between the Board and the management of the Company. The
+balance of power and authority is ensured by the operations of the
+Board, which comprises experienced and high caliber individuals
+and meets regularly to discuss issues affecting operations of the
+Group. The Board believes that this structure is conducive to
+strong and consistent leadership, enabling the Group to make and
+implement decisions promptly and efficiently. The Board has full
+confidence in Mr. Wang and believes that this appointment to the
+posts of Chairman and Chief Executive Officer is beneficial to the
+business prospects of the Company.
+The Company has put in place corporate governance practices
+to comply with all the provisions and most of the recommended
+best practices of the Corporate Governance Code (the "Code")
+as set out in Appendix 14 of the Rules Governing the Listing of
+Securities on the Stock Exchange (the “Listing Rules") except for
+the deviation from the code provisions A.2.1 and A.6.7.
+The Board believes that good corporate governance is an
+essential element in enhancing the confidence of current and
+potential shareholders, investors, employees, business partners
+and the community as a whole. To this end, we strive to promote
+and uphold the highest standard of corporate governance.
+Corporate Governance Report
+企業管治報告
+53
+Annual Report 2021
+二零二一年年報
+73,087
+現任
+5,226
+2,915
+現任
+Incumbent
+現任(自二零二一年三月二十九日起任職)
+4,859
+Incumbent (effective from 29 March 2021)
+現任
+3,312
+Incumbent
+現任
+5,022
+Incumbent
+In furtherance of good corporate governance, the Board has set
+up a number of committees, including:
+the Audit Committee;
+Cai Hong-ping
+Jiang Yan-bo
+審核委員會成員
+呂向陽
+張敏(主席)
+蔡洪平
+蔣岩波
+Number of
+Committee
+Meetings
+Zhang Min (chairman)
+Attended
+出席委員會
+Rate
+會議次數
+出席率
+4
+100
+4
+100
+4
+100
+Attendance
+Lv Xiang-yang
+Member of the Audit Committee
+於二零二一年,審核委員會舉行四次會議,以審閱
+內部及外部審核的發現、本集團所採納的會計準則
+及常規、遵照上市規則及法律、參照外部核數師所
+履行的工作後,審議與外部核數師的關係、其酬金
+及聘任條款及獨立性,並就建議重新委任外部核數
+師向董事會提出建議,以及討論審核、內部監控、
+風險管理及財務報告事項(包括審核截至二零二零年
+十二月三十一日止年度、截至二零二一年三月三十
+一日止三個月、截至二零二一年六月三十日止六個
+月及截至二零二一年九月三十日止九個月的財務報
+表),以向董事會推薦批准,及履行守則下的其他的
+職責。其成員的出席率載列如下:
+the Remuneration Committee;
+the Nomination Committee; and
+the Strategy Committee.
+Each Committee reports regularly to the Board, addressing
+major issues and findings with valuable recommendations for the
+decision making of the Board. The particulars of these Committees
+are set out hereunder.
+戰略委員會。
+各委員會定期向董事會作出報告,以表達各重大發
+現及寶貴建議供董事會作出決定。該等委員會的詳
+情載列如下。
+為進一步實施良好企業管治,董事會已成立數個委
+員會,包括:
+審核委員會;
+提名委員會;及
+BYD Company Limited
+58
+比亞迪股份有限公司
+Corporate Governance Report
+企業管治報告
+AUDIT COMMITTEE
+One of the primary duties of the Audit Committee is to review the
+financial reporting process and the risk management and internal
+control systems of the Group. As at 31 December 2021,Audit
+Committee consists of three independent non-executive directors,
+namely Mr. Cai Hong-ping, Mr. Zhang Min and Mr. Jiang Yan-bo,
+and a non-executive director, Mr. Lv Xiang-yang, with Mr. Zhang
+Min as the chairman. Meetings were convened by the Company's
+Audit Committee and the Company's auditors to review the
+accounting policies and practices adopted by the Group and to
+discuss auditing, internal control, risk management and financial
+reporting matters before recommending them to the Board for
+approval.
+The terms of reference of the Audit Committee follow the
+guidelines set by the Hong Kong Institute of Certified Public
+Accountants, the Listing Rules and the provisions of the Code.
+The Audit Committee held four meetings in 2021 to review the
+internal and external audit findings, the accounting principles
+and practices adopted by the Group, Listing Rules and
+statutory compliance, deliberate its relationship, remuneration
+and appointment terms and independence with the external
+auditor with reference to its work performance and to make
+recommendations to the Board of Directors regarding the
+reappointment of the external auditor, as well as to discuss
+auditing, internal controls, risk management and financial
+reporting matters (including auditing the financial statements
+for the year ended 31 December 2020, the three months ended
+31 March 2021, the six months ended 30 June 2021 and the
+nine months ended 30 September 2021), before recommending
+them to the Board for approval, and performed its other duties
+under the Code. The individual attendance of its members of the
+meetings is set out as follows:
+審核委員會
+審核委員會的主要職責之一是審閱本集團的財務報
+告程式以及風險管理及內部控制制度。於二零二一
+年十二月三十一日,審核委員會包括三名獨立非執
+行董事,即蔡洪平先生、張敏先生及蔣岩波先生,
+以及一名非執行董事呂向陽先生,而張敏先生出任
+主席。本公司的審核委員會與本公司的核數師舉行
+會議,以檢討本集團所採納的會計政策及常規,及
+討論審核、內部監控、風險管理及財務報告事項,
+以向董事會推薦批准。
+審核委員會的職權範圍已遵照香港會計師公會所制
+定的指引、上市規則及守則的規定。
+During the reporting period, except for the deviation from code
+provisions A.2.1 and A.6.7 as explained above, the Directors are
+of the opinion that the Company had complied with all applicable
+provisions of the Code.
+Save as disclosed above, there is no other information required to
+be disclosed pursuant to Rule 13.51B (1) of the Listing Rules.
+董事會相信,良好的企業管治是提高現有及未來股
+東、投資者、僱員、業務夥伴及整體社會信心的關
+鍵因素。在這方面,我們一直致力推廣及貫徹執行
+企業管治的最高標準。
+本公司已實施企業管治常規,以遵照聯交所證券上
+市規則(「上市規則」)附錄14所載企業管治守則(「守
+則」)的所有條文及大部分建議最佳應用守則,唯偏
+離守則條文第A.2.1條及A.6.7條者除外。
+BOARD MEETINGS
+企業管治報告
+Corporate Governance Report
+57
+Annual Report 2021
+二零二一年年報
+✓
+蔣岩波
+Jiang Yan-bo
+張敏
+蔡洪平
+To ensure the highest attendance of Directors, written notices
+are sent to all Directors 14 days before a regular board meeting;
+written notices are sent to all Directors 2 days before a provisional
+獨立非執行董事
+Zhang Min
+Cai Hong-ping
+Independent Non-executive Director
+Xia Zuo-quan
+呂向陽
+✓
+√
+閱讀材料
+簡介會
+materials
+夏佐全
+board meeting. The meeting agenda is set in consultation with
+members of the Board. The Board held 15 meetings in 2021. The
+attendance of individual Director at the Board meetings as well as
+general meetings in 2021 is set out below:
+董事會會議
+為了保證最高的董事出席率,定期董事會會議於十
+四天前以書面通知各董事;臨時董事會��議於兩天
+前以書面通知各董事。會議議程於諮詢董事會成員
+後制定。於二零二一年共舉行十五次董事會會議。
+董事於二零二一年董事會會議及股東大會的個人出
+席率載列如下:
+15/15
+呂向陽
+Lv Xiang-yang
+非執行董事
+Non-executive Director
+Xia Zuo-quan
+1/1
+15/15
+王傳福
+Wang Chuan-fu
+執行董事
+Executive Director
+Meetings
+股東特別大會
+股東週年大會
+董事會會議
+董事會成員
+Members of the Board
+Meeting
+Meetings
+General
+General
+Board
+Annual Extraordinary
+Reading
+4
+參與培訓/
+seminars
+本公司已收到獨立非執行董事根據上市規則規定有
+關其獨立性的年度確認函。本公司認為,所有獨立
+非執行董事均為獨立。於本年報日期,全體獨立非
+執行董事的服務年限均短於9年。倘董事會希望自股
+東中進一步委任任何已服務9年以上的獨立非執行董
+事,根據上市規則附錄14守則條文第A.4.3條,應向
+董事提出單獨決議,且雖然彼等的服務年限長,但
+仍應於提交至股東的相關文件中包含證明彼等獨立
+性的依據。
+The Company has arranged appropriate insurance cover
+in respect of legal actions against its Directors and senior
+management with the extent of this insurance being reviewed
+each year.
+The Company has received from each of the independent non-
+executive Directors an annual confirmation of his independence
+as required under the Listing Rules. The Company considers all
+independent non-executive directors to be independent. As at the
+date of this annual report, the years of service of all independent
+non-executive directors are less than 9. Should the Board
+wish to seek for the further appointments of any independent
+non-executive directors serving more than 9 years from the
+Shareholders, separate resolutions will be proposed to the
+Directors and the reasons to justify their independence despite
+of the length of their services will be contained in relevant papers
+to the Shareholders in accordance with code provision A.4.3 in
+Appendix 14 of the Listing Rules.
+本集團相信,執行董事及非執行董事有關本集團業
+務經營及發展的良好知識、經驗及/或專才可與各
+董事達致平衡。所有董事均知悉其須對股東負擔的
+共同及個別責任,並已恪盡職守,謹慎勤勉地履行
+其職責,為本集團於回顧年度的成功表現作出貢獻。
+於本報告刊發日期,董事會由六名董事組成,包括
+一名執行董事(為總裁),兩名非執行董事及三名獨
+立非執行董事。每位董事專業經驗及對本集團成功
+長期運作的適合性的簡歷載於本年報第39頁至第42
+頁。
+董事
+董事會對股東負責,並共同負責制定本集團的策略
+業務方針及為管理層制定目標、監督其表現及評估
+管理層各項策略的效率。董事會亦負責並已於年內
+履行守則項下第D.3.1條所載企業管治職責(包括確
+定本公司企業管治政策)。
+董事會
+The Group believes that its executive and non-executive directors
+composition is well balanced with each Director having sound
+knowledge, experience and/or expertise relevant to the business
+operations and development of the Group. All Directors are
+aware of their collective and individual responsibilities to the
+Shareholders and have exercised their duties with care, skill and
+diligence, contributing to the successful performance of the Group
+for the Year under review.
+As of the date of this report, the Board comprises six Directors.
+There is one executive Director who is the President, two non-
+executive Directors and three independent non-executive
+directors. Detailed biographies outlining each individual Director's
+range of specialist experience and suitability of the successful
+long-term running of the Group are set out on pages 39 to 42 of
+this annual report.
+本公司已就其董事及高級管理人員可能面對的法律
+訴訟安排適當的投保,並將每年檢討該等保險。
+DIRECTORS
+BOARD OF DIRECTORS
+企業管治報告
+Corporate Governance Report
+比亞迪股份有限公司
+54
+BYD Company Limited
+除上文所披露者,概無其他資料須根據上市規則第
+13.51B(1)條予以披露。
+報告期內,除偏離如上述所釋的守則條文第A.2.1條
+及A.6.7條外,董事認為,本公司已遵守所有適用守
+則條文。
+守則條文第A.6.7條規定,獨立非執行董事及非執行
+董事應出席股東大會。鑒於部分獨立非執行董事及
+非執行董事在相關時間因疫情原因出行不便或有重
+要公務,故並非均出席於二零二一年六月八日舉行
+的股東周年大會及於二零二一年六月十六日、二零
+二一年十一月三十日舉行的股東特別大會。
+守則條文第A.2.1條規定,主席及行政總裁的角色
+應有區分,並不應由同一人同時兼任。王傳福先生
+為本公司的主席兼行政總裁。董事會認為此架構不
+會影響董事會與管理層兩者之間的權利和職權的���
+衡。本公司董事會由極具經驗和才幹的成員組成,
+並定期開會,以商討影響本集團運作的事項。透過
+董事會的運作,足以確保權利和職權得到平衡。董
+事會相信此架構有助於建立穩健而一致的領導權,
+使本集團能夠迅速及有效地作出及實施各項決定。
+董事會對王先生充滿信心,相信委任他出任主席兼
+行政總裁之職,會有利於本公司的業務發展。
+Accountable to the Shareholders, the Board of Directors is
+collectively responsible for formulating the strategic business
+direction of the Group and setting objectives for management,
+overseeing its performance and assessing the effectiveness
+of management strategies. The Board is also responsible for,
+and has during the Year performed the corporate governance
+duties set out in code provision D.3.1 of the Code (including the
+determining of the corporate governance policy of the Company).
+Annual Report 2021
+二零二一年年報
+55
+Corporate Governance Report
+企業管治報告
+Training/
+非執行董事
+王傳福
+執行董事
+董事姓名
+Lv Xiang-yang
+Non-executive Director
+Wang Chuan-fu
+Executive Director
+Name of Director
+本公司董事就任時,本公司提供相關就任須知材
+料,以幫助董事完全理解本公司經營、業務及管
+治政策以及上市規則等相關法律法規規定的董事
+職責,並提供有助董事瞭解本公司業務及經營情況
+的資料;為確保獨立非執行董事充分履行職責,本
+公司亦會組織獨立非執行董事進行實地考察,並與
+管理層進行充分溝通。根據企業管治要求,董事參
+與持續專業發展計劃,以發展及更新彼等知識及技
+能,以下列載每位董事培訓詳情:
+董事持續專業發展
+Newly appointed Directors of the Company will be provided with
+relevant induction materials to assist them to fully understand
+the Company's operations, business and governance policies
+and their responsibilities and duties as a director under the
+requirements of the relevant laws and regulations, such as
+the Listing Rules. They will also be provided with materials
+to help them to gain insights in the Company's business and
+operation. In order to ensure adequate performance of duties
+by the independent non-executive directors, the Company will
+also arrange on-site visits and sufficient communication with
+the management for the independent non-executive directors.
+Pursuant to the corporate governance requirements, the Directors
+participated in continuous professional development programme
+to develop and update their knowledge and skills. The particulars
+of the trainings of each Director are as follows:
+CONTINUOUS PROFESSIONAL DEVELOPMENT OF
+DIRECTORS
+企業管治報告
+Corporate Governance Report
+比亞迪股份有限公司
+56
+BYD Company Limited
+董事決定各項公司策略、批准整體業務計劃及代表
+股東監督本集團的財務表現、管理層及組織。董事
+會委任本集團管理層的特別任務,包括編製年度及
+中期報告供董事會批准以向公眾發表;實施董事會
+批准的各項策略;實施內部監控程式,以及確保遵
+照有關法律規定及其他法規及規則。
+董事會於本年度舉行十五次會議,以討論本集團的
+整體策略、營運、財務表現及檢討對守則的遵守情
+況。董事會還確保及時獲提供所有必要的資料,以
+便可履行其職務。董事會所有會議按呈交予董事會
+審議的正式議事程式進行。於董事會會議上討論的
+事項包括(其中包括):季度、中期及年度業績;董
+事、監事換屆選舉及董事、監事薪酬建議;核數師
+的推薦建議;批准重大資本項目;股息政策;以及
+其他重要經營及財務事項。
+The Directors decide on corporate strategies, approve overall
+business plans and supervise the Group's financial performance,
+management and organization on behalf of the shareholders.
+Specific tasks that the Board delegates to the Group's
+management included the preparation of annual and interim
+accounts for the Board's approval before public reporting;
+implementation of strategies approved by the Board; the
+implementation of internal control procedures; and the ensuring
+of compliance with relevant statutory requirements and other
+regulations and rules.
+The Board met fifteen times this year to discuss the Group's
+overall strategy, operation, financial performance and review the
+status of regulatory compliance. The Board also ensures that it
+is supplied in a timely manner with all necessary information in
+a form and of a quality appropriate to enable it to discharge its
+duties. All Board meetings adhere to a formal agenda in which
+a schedule of matter is specifically addressed to the Board for
+its decision. Topics discussed at these Board meetings include,
+among others, quarterly, interim and annual results; (re) election
+of (existing) new Directors and supervisors, recommendations on
+the remuneration of Directors and supervisors, recommendations
+of auditors, approval of major capital project; dividend policies;
+and other significant operational and financial matters.
+participated
+100
+2/2
+董事會已採納董事會多元化政策,其中載有董事會
+多元化之方針。本公司認同董事會成員多元化對企
+業管治及董事會行之有效的重要性,董事會成員多
+元化政策旨在列載為達致董事會成員多元化而採取
+的方針,以確保董事會根據本公司業務所需具備適
+當的技能、經驗及多元化觀點。董事會及提名委員
+會在設定董事會成員組合時,會從多方面考慮董事
+會成員多元化,包括但不限於性別、年齡、文化及
+教育背景、專業經驗、技能及知識。董事會所有委
+任均以用人唯才為原則,並以客觀準則考慮人選,
+充分顧及董事會多元化的裨益。
+Attended
+出席委員會
+Meetings
+Committee
+Number of
+提名委員會的履職概述方面,於二零二一年,提名
+委員會舉行一次會議,以提名周亞琳女士、楊冬生
+先生為公司副總裁候選人。其成員出席率載列如
+下:
+本集團已成立提名委員會。於二零二一年十二月三
+十一日,提名委員會由一名執行董事王傳福先生、
+一名非執行董事呂向陽先生、及三名獨立非執行董
+事蔡洪平先生、張敏先生及蔣岩波先生組成,而蔣
+岩波先生為主席。提名委員會已獲授權力及權限,
+以審閱董事會的架構、規模及組成,就挑選董事及
+高級管理層候任人選、委任及重新委任董事及計劃
+董事繼任向董事會提供建議,亦負責評估獨立非執
+行董事的獨立性及決定董事提名的政策。
+提名委員會
+In terms of the summary of the work of the Nomination Committee,
+the Nomination Committee held one meeting in 2021 to nominate
+Ms. Zhou Ya-lin and Mr. Yang Dong-sheng as candidates for
+the vice president of the Company. The attendance rate of its
+members is set out as follows:
+nominated for directorships and senior management, appointment
+and reappointment of Directors and succession planning for
+Directors, assess the independence of independent non-executive
+directors and determine the policy for the nomination of Directors.
+Committee has been delegated with the powers and authorities
+to review the structure, size and composition of the Board, make
+recommendations to the Board on the selection of individuals
+The Group has established the Nomination Committee. As at
+31 December 2021,the Nomination Committee comprises an
+executive Director,Mr. Wang Chuan-fu, a non-executive director,
+Mr. Lv Xiang-yang, and three independent non-executive
+directors, namely Mr. Cai Hong-ping, Mr. Zhang Min and Mr. Jiang
+Yan-bo,with Mr. Jiang Yan-bo as the chairman. The Nomination
+NOMINATION COMMITTEE
+企業管治報告
+Corporate Governance Report
+Attendance
+61
+8
+5
+高級管理層人數
+management
+人民幣500萬元至人民幣800萬元
+人民幣零元至人民幣500萬元
+按等級劃分的酬金
+RMB5 million to RMB8 million
+RMBO to RMB5 million
+Remuneration by bands
+Number of senior
+年內高級管理人員薪酬
+截至二零二一年十二月三十一日止年度,支付予各
+董事的酬金載於財務報表附註9。
+Remuneration of Senior Management During the Year
+Annual Report 2021
+二零二一年年報
+Rate
+Member of the Nomination Committee
+提名委員會成員
+企業管治報告
+Corporate Governance Report
+比亞迪股份有限公司
+62
+BYD Company Limited
+提名委員會致力於通過考慮企業管治結構的多項因
+素,在切實可行的情況下促進本公司多元化。
+a number of factors in respect of our corporate governance
+structure.
+our Company to the extent practicable by taking into consideration
+The Nomination Committee is committed to promote diversity in
+100%
+1
+100%
+1
+張敏
+蔡洪平
+Zhang Min
+Cai Hong-ping
+會議次數
+出席率
+Wang Chuan-fu
+王傳福
+1
+100%
+The emoluments paid to each Director for the year ended 31
+December 2021 are set out in note 9 to the financial statements.
+Lv Xiang-yang
+呂向陽
+蔣岩波(主席)
+1
+100%
+1
+100%
+Jiang Yan-bo (chairman)
+The Nomination Committee has also adopted a nomination
+policy (the "Nomination Policy") which includes the selection
+criteria and nomination procedures of new appointments and re-
+appointments of directors. The selection criteria for assessing
+董事不參與釐定其本身的薪酬。
+董事薪酬政策
+Meetings
+Committee
+Number of
+薪酬委員會的履職概述方面,於二零二一年,薪酬
+委員會舉行一次會議,以(其中包括)評估執行董事
+的表現及審閱本集團董事、監事及高級管理人員的
+薪酬。其成員出席率載列如下:
+於二零二一年,薪酬委員會已檢討其職權範圍(其
+職權範圍可於聯交所及本公司網站查閱),以符合守
+則。
+董事會已於二零零五年六月二十七日成立薪酬委員
+會。薪酬委員會的主要角色是定期檢討人力資源管
+理政策、對董事及高級行��人員的薪酬組合、補償
+及福利計劃提出建議,以及制定本集團高級管理人
+員的表現目標。於二零二一年十二月三十一日,薪
+酬委員會包括一名執行董事王傳福先生、一名非執
+行董事夏佐全先生、及三名獨立非執行董事蔡洪平
+先生、張敏先生及蔣岩波先生,而蔡洪平先生出任
+主席。
+薪酬委員會
+In terms of the summary of the work of the Remuneration
+Committee, the Remuneration Committee held one meeting in
+2021 to,among others, assess the performance of executive
+Directors and review the remuneration of Directors, supervisors
+and senior management of the Group. The attendance rate of its
+members is set out as follows:
+The Remuneration Committee has reviewed its terms of reference,
+which is available on the websites of the Stock Exchange and the
+Company, in 2021 to comply with the Code.
+The Board of Directors established a Remuneration Committee on
+27 June 2005. The primary role of the Remuneration Committee is
+to regularly review human resource management policies, make
+recommendations on the remuneration packages, compensation
+and benefit plans of Directors and senior executives, as well as
+setting performance goals for senior management of the Group.
+As at 31 December 2021, the Remuneration Committee comprises
+an executive Director,Mr.Wang Chuan-fu, a non-executive
+director,Mr. Xia Zuo-quan, and three independent non-executive
+directors, namely Mr. Cai Hong-ping, Mr. Zhang Min and Mr. Jiang
+Yan-bo, with Mr. Cai Hong-ping as the chairman.
+REMUNERATION COMMITTEE
+企業管治報告
+Corporate Governance Report
+59
+Attended
+Annual Report 2021
+二零二一年年報
+審閱中期業績
+2021
+2020
+二零二一年
+RMB900,000
+人民幣900,000元
+二零二零年
+RMB900,000
+人民幣900,000元
+Other non-audit services
+其他非審計服務
+The Directors have acknowledged their responsibilities for
+preparing the consolidated financial statements of the Company
+for the year ended 31 December 2021.
+董事確認彼等負責編製本公司截至二零二一年十二
+月三十一日止年度的合併財務報表。
+The statement of the external auditor of the Company about its
+reporting responsibilities on the Company's consolidated financial
+statements for the year ended 31 December 2021 is set out_in
+the section headed "Independent Auditor's Report" in this annual
+report.
+董事會多元化政策
+Review of interim results
+Attendance
+出席委員會
+Rate
+Directors do not participate in decisions on their own
+remuneration.
+The primary goal of the Group's remuneration policy for executive
+Directors is to enable the Company to retain and motivate
+executive Directors by linking their compensation with their
+individual performance as measured against the corporate
+objectives and the Group's operating results and taking into
+account of comparable market conditions. For the remuneration
+of the executive Directors and senior management, the
+Remuneration Committee makes recommendations to the Board
+on the remuneration packages of individual executive directors
+and senior management (adopting the model described in code
+provision B.1.2(c)(ii) of the CG Code) which would then be
+reviewed and subject to approval by the Board. The remuneration
+package of the executive Directors would also be subject to
+approval by shareholders at general meetings. The principal
+elements of the remuneration package of executive Directors
+include basic salary and discretionary bonus. The remuneration
+of non-executive directors includes mainly the Director's fee. The
+Company reimburses reasonable expenses incurred by Directors
+in the course of their carrying out of duties as Directors.
+REMUNERATION POLICY FOR DIRECTORS
+企業管治報告
+Corporate Governance Report
+比亞迪股份有限公司
+60
+BYD Company Limited
+100%
+1
+100%
+1
+100%
+1
+100%
+蔣岩波
+張敏
+Member of the Remuneration Committee
+薪酬委員會成員
+會議次數
+出席率
+Wang Chuan-fu
+王傳福
+本集團對執行董事薪酬政策的主要目標是讓本公司
+可透過將執行董事的補償與其個人表現掛鈎並與公
+司目標及本集團的經營業績相衡量,同時計及可比
+較的市場條件,以挽留及激勵執行董事。就執行董
+事及高級管理層薪酬而言,薪酬委員會向董事會就
+個別執行董事及高級管理層的薪酬組合提出建議(採
+納企業管治守則條文第B.1.2(c)(ii)條所述模式)並將
+由董事會審閱及採納批准,同時執行董事的薪酬組
+合方案還須經股東大會批准。執行董事的薪酬組合
+主要部分包括基本薪金、酌情花紅。非執行董事的
+薪酬主要包括董事袍金。董事於履行其作為董事職
+責時所發生的開支,本公司會作出合理補償。
+1
+Xia Zuo-quan
+Cai Hong-ping (chairman)
+Zhang Min
+Jiang Yan-bo
+夏佐全
+蔡洪平(主席)
+100%
+candidates include, in particular, his/her educational background
+and professional qualifications, experiences in the industry,
+personality and integrity, as well as his/her contributions to the
+diversity of the Board according to the Board Diversity Policy.
+In the case of re-appointment of Directors, the Nomination
+Committee would take into account factors such as contribution
+from the retiring Directors. Where the candidate is appointed
+for the position of independent non-executive director, the
+Nomination Committee will also assess his/her independence
+with reference to the requirements set out in the Listing Rules. In
+appointing a new Director, the Nomination Committee and/or the
+Board will first identify potential candidates. After the Nomination
+Committee evaluated the candidates based on the selection
+criteria, the Nomination Committee will nominate one or more
+qualified candidates for the Board's consideration and the Board
+will determine and agree on a preferred candidate. The Company
+and/or the Chairman of the Board will then negotiate the terms of
+appointment with the preferred candidate. Finally, the Chairman of
+the Board, in consultation with the chairman of the Remuneration
+Committee and the chairman of the Nomination Committee, will
+then finalise a letter of appointment for the Board's approval.
+The Nomination Committee shall ensure the transparency and
+fairness of the selection procedure and continue to adopt diverse
+selection criteria during the appointment procedure, taking into
+consideration a range of elements such as age, educational
+background, professional experience, industrial skills and
+professional knowledge. Since its establishment, the Nomination
+Committee has assumed the role of reviewing such diverse
+selection policy at the nomination level, maintaining a diversified
+spectrum of varying perspectives, educational background and
+professional knowledge in the Board.
+1
+Annual Report 2021
+二零二一年年報
+Supervising the Company's risk management and internal
+control systems on an ongoing basis, to provide opinions
+and suggestions with regard to the improvement of the risk
+management and internal control systems;
+Reviewing the effectiveness of the Company's risk
+management and internal control systems at least once a
+year;
+審核委員會
+協助董事會執行其風險管理及內部監控系統
+的職責;
+•
+持續監督本公司的風險管理及內部監控系
+統,對風險管理及內部監控系統管理制度的
+健全和完善提出意見和建議;
+至少每年一次檢討本公司的風險管理及內部
+監控系統是否有效;
+Ensuring that the Company has sufficient resources, staff
+qualifications and experiences in accounting, internal audit
+and financial reporting functions.
+Management Team
+管理層
+確保本公司在會計、內部審核及財務匯報職
+能方面有足夠的資源,員工資歷和經驗。
+Designing, implementing and inspecting the risk
+management and internal control systems;
+Assisting the Board in performing its duties of risk
+management and internal control systems;
+•
+Identifying, evaluating and managing risks that may exert
+potential impacts on major operational procedures;
+Responding to and following up in a timely manner with
+regard to the investigation results of risk management
+and internal control issues raised by the Internal Audit
+Department;
+Providing opinions to the Board and the Audit Committee
+識別、評估及管理可能對運作之主要程式構
+成潛在影響之風險;
+對內部審計提出的有關風險管理及內部監控
+事宜之調查結果,作出及時回應和跟進;
+向董事會及審核委員會提供有關風險管理及
+內部監控系統是否有效的確認。
+on the acknowledgment of the effectiveness of the risk
+management and internal control systems.
+Internal Audit Department
+內部審計
+Reviewing the due effectiveness of the Company's risk
+management and internal control systems;
+•
+審核本公司風險管理及內部監控制度是否足
+夠有效;
+Reporting the audit results and making suggestions to
+the Audit Committee, to improve major drawbacks of the
+systems or identify the deficiency of the control.
+負責設計、執行及監察風險管理及內部監控
+系統;
+Audit Committee
+企業管治報告
+Corporate Governance Report
+The Board has proposed to terminate the re-appointment of Ernst
+& Young as the international auditor of the Company for 2022
+and re-appoint Ernst & Young Hua Ming (LLP) as the domestic
+auditor of the Company for 2022, which is subject to approval by
+shareholders at the forthcoming annual general meeting. There
+was no disagreement between the Board and the Audit Committee
+on the selection and reappointment of the internal and external
+auditors during the year under review. A circular containing further
+details of the proposed change of auditor will be dispatched to
+the Shareholders as soon as practicable in accordance with the
+Listing Rules.
+提名委員會亦已採納一項提名政策(「提名政策」),
+當中列載新委任及重新委任董事之甄選準則及提名
+程式。用以評估候選人的甄選準則包括(尤其是)其
+學歷背景及專業資格、與行業有關之經驗、品格及
+誠信及彼是否能如多元化政策所述為董事會多元化
+作出貢獻。重新委任董事方面,提名委員會將考慮
+如退任董事所作出貢獻等因素。倘候選人獲委任獨
+立非執行董事職位,提名委員會將參考上市規則所
+載列之要求評估彼之獨立性。在委任新董事時,提
+名委員會及/或董事會會先物色適合人選。經提
+名委員會根據甄選準則評估候選人後,提名委員會
+將提名一位或多位合資格候選人供董事會考慮,且
+董事會將決定並同意一位最佳候選人。本公司及/
+或董事會主席將與最佳候選人協商委任之條款。最
+後,董事會主席經諮詢薪酬委員會主席及提名委員
+會主席後將落實委任書,予董事會批准。提名委員
+會應確保挑選程式透明及公平,於委聘程式中維持
+採用多元化甄選準則,同時考慮年齡、教育背景、
+專業經驗、行業技能及專業知識等多項特質。自成
+立以來,提名委員會已肩負檢討在提名方面應用多
+元化甄選政策之責任,確保董事具備多元化視野及
+不同教育背景及專業知識。
+本公司外部核數師有關其對本公司截至二零二一年
+十二月三十一日止年度的合併財務報表的申報責任
+的陳述書,載於本年報的「獨立核數師報告書」內。
+董事會已建議終止續聘安永會計師事務所為本公司
+二零二二年度國際核數師,並建議續聘安永華明會
+計師事務所(特殊普通合夥)為本公司二零二二年
+度境內核數師,唯須待股東於應屆股東週年大會上
+批准。董事會與審核委員會之間就於回顧年度內外
+部核數師的挑選及續任並無出現意見分歧。一份載
+有建議更換核數師進一步詳情的通函將根據上市規
+則,在實際可行的情況下盡快寄發予股東。
+Annual Report 2021
+二零二一年年報
+Corporate Governance Report
+企業管治報告
+RISK MANAGEMENT AND INTERNAL CONTROL
+The Board confirms its responsibility for risk management and
+internal control systems, and for reviewing their effectiveness
+through the Audit Committee at least annually. The Audit
+Committee assists the Board in performing its responsibilities
+for supervision and corporate governance, covering financial,
+operational, compliance, risk management and internal control, as
+well as internal audit functions of the Company.
+Various measures have been designed for safeguarding assets
+against unauthorised use or disposition; for maintaining proper
+accounting records and for the reliability of financial information
+used within the business or for publication. The Company's
+systems of risk management and internal control are designed
+to manage rather than eliminate the risk of failure to achieve
+business objectives, and can only provide reasonable but not
+absolute assurance against material errors, losses or fraud. The
+Board considers that the Company is fully compliant with the
+provisions of risk management and internal control as set forth in
+the Corporate Governance Code.
+Risk Management and Internal Control Framework
+風險管理及內部監控
+董事會確認對風險管理及內部監控系統負責,並通
+過審核委員會至少每年檢討其有效性。審核委員會
+協助董事會履行其監察及企業管制職責,涵蓋本公
+司的財務、運營、合規、風險管理及內部監控,和
+內部審計職能。
+本公司已設計各項措施,以保障資產不被非法使用
+或出售、保持良好會計記錄及用於業務或公佈的財
+務數據的可靠性。風險管理及內部監控系統旨在管
+理而非消除未能達成業務目標的風險,而且就避免
+重大錯誤、損失或欺騙行為而言,僅能作出合理而
+非絕對的保證。董事會信納本公司已全面遵守企業
+管制守則所載風險管理和內部監控條文。
+The Company's risk management system is composed of a
+well-established organizational structure as well as all-rounded
+policies and procedures. The responsibilities of each business
+and functional department are clearly defined to ensure effective
+balance. The Company's risk management and internal control
+structure comprises of:
+Board of Directors
+比亞迪股份有限公司
+66
+BYD Company Limited
+65
+監督管理層對風險管理及內部監控系統的設
+計、實施及監察。
+負責評估並釐定本公司承受的風險性質及程
+度,以達成其業務策略目標;
+向審核委員會匯報審核結果並作出建議,以
+改善制度重大不足之處或發現監控缺失。
+董事會
+風險管理及內部監控框架
+of the risk management and internal control systems by the
+management team.
+Supervising the designing, implementation and inspection
+appropriate and effective risk management and internal
+control systems;
+Ensuring that the Company has established and maintained
+Evaluating and determining the nature and magnitude of
+the risks to be assumed by the Company, to achieve its
+business and strategic goals;
+本公司風險管理包含完善之組織架構,以及全面之
+政策和程式。各業務及職能部門之職責均清楚列
+明,以確保有效之制衡。本公司的風險管理及內部
+監控架構包括下列各項:
+Annual Report 2021
+二零二一年年報
+確保本公司建立及維持合適及有效的風險管
+理及內部監控系統;
+Corporate Governance Report
+企業管治報告
+提名委員會已履行其年內上述職責。
+STRATEGY COMMITTEE
+The Group established the Strategy Committee on 20 March 2008.
+As at 31 December 2021,the Strategy Committee comprises
+an executive Director,Mr.Wang Chuan-fu, two non-executive
+directors,namely Mr. Lv Xiang-yang and Mr. Xia Zuo-quan,and
+two independent non-executive directors, namely Mr. Cai Hong-
+ping and Mr. Zhang Min, with Mr. Wang Chuan-fu as the chairman.
+The main duty of the Strategy Committee is to consider and make
+recommendations on the Company's long-term development
+strategy and major investment decisions.
+戰略委員會
+本集團於二零零八年三月二十日成立戰略委員會。
+於二零二一年十二月三十一日,戰略委員會由一名
+執行董事王傳福先生、兩名非執行董事呂向陽先生
+及夏佐全先生,以及兩名獨立非執行董事蔡洪平先
+生及張敏先生組成,而王傳福先生為主席。戰略委
+員會主要職責是對公司長期發展戰略和重大投資決
+策進行研究並提出建議。
+BYD Company Limited
+64
+比亞迪股份有限公司
+Corporate Governance Report
+企業管治報告
+COMPANY SECRETARY
+Mr. Li Qian,Company Secretary of the Company, is a full-time
+staff of the Group, and is familiar with the daily affairs of the
+Company. During the financial year, the Company Secretary had
+complied with the relevant professional training requirements
+under Rule 3.29 of the Listing Rules. The biographical details
+of the Company Secretary are set out in the section headed
+"Directors, Supervisors and Senior Management" in this annual
+report.
+INDEPENDENT AUDITORS AND THEIR
+REMUNERATION
+For the year ended 31 December 2021, the total remuneration
+paid to the international auditor, Ernst & Young and the domestic
+auditor,Ernst & Young Hua Ming (LLP),was RMB6,350,000 for
+audit services and non-audit services provided for the Company
+and its subsidiaries. The audit fee was approved by the Board.
+During the reporting period, the total remuneration in respect of
+the non-audit services provided was RMB900,000.
+公司秘書
+獨立核數師及其薪酬
+63
+Corporate Governance Report
+67
+企業管治報告
+The Board's Diversity Policy
+The Board has adopted the Board Diversity Policy, which sets out
+the approach to the diversity of Board members. The Company
+recognises the importance of diversity to corporate governance
+and an effective Board. The Board Diversity Policy aims to set
+out the approach to achieve Board diversity, so as to ensure that
+the Board members possess appropriate skills, experience and
+diverse views necessary for the business of the Company. In
+determining the Board composition, the Board and Nomination
+Committee consider a range of diversity elements, including but
+not limited to gender, age, cultural and educational background,
+professional experience, skills and knowledge. All appointments
+of the Board will be made based on merit and objective criteria
+while taking into full account the interest of the Board's diversity.
+甄選人選將基於一系列多元化觀點及將定期審閱的
+可計量目標。這些可計量目標包括但不限於性別、
+年齡、文化背景、教育背景、專業經驗、技能、知
+識及/或服務年期等。最終將按所選人選的優點及
+其將為董事會帶來的貢獻而作出決定。經考慮本公
+司業務需求,提名委員會認為現任董事會在技能、
+經驗、知識及獨立性方面充分表現多樣化格局。
+The selection of candidates will be based on a range of diversity
+elements and measurable objectives which will be reviewed
+regularly. Such measurable objectives shall include, but be not
+limited to,gender, age, cultural and educational background,
+sufficiently diversified in terms of its skills, experience, knowledge
+and independence.
+The Nomination Committee has performed the above duties during
+the Year.
+項目
+Item
+。
+截至二零二一年十二月三十一日止年度,國際核數
+師- 安永會計師事務所及境内核數師-安永華明
+會計師事務所(特殊普通合夥)為本公司及其子公
+司提供核數服務和非核數服務的薪酬總額為人民幣
+6,350,000元。核數費已獲董事會批准。於報告期
+內,提供非核數服務的薪酬總額為人民幣900,000
+元
+professional experience, skills, knowledge and/or terms of service.
+The final decision will be made according to the strengths of
+the candidate and his/her contribution that would bring to the
+Board. Having considered the business needs of the Company,
+the Nomination Committee considers that the current Board is
+根據公司章程,持有本公司附有可於本公司股東大
+會上投票權利的已繳股本不少於百分之十的任何一
+名或多名股東,將可隨時要求董事會召開股東特別
+大會,以審議要求中所指明的任何事項。
+本公司之公司秘書李黔先生為本集團全職僱員,並
+對本公司的日常事務有所認識。於本財政年度,公
+司秘書已遵守上市規則第3.29條的相關專業培訓要
+求。公司秘書的履歷詳情載於本年報「董事、監事及
+高級管理層」一節中。
+可能擁有本集團尚未公佈內幕消息的指定人士亦須
+遵守標準守則條款。於二零二一年,本公司並無發
+現違規事件。
+IDENTIFICATION, EVALUATION AND MANAGEMENT
+OF MAJOR RISKS
+Major risks and related control measures are reviewed and
+upgraded on an ongoing basis to ensure proper internal control
+procedures in place. Based on the testing results, persons
+in charge confirm with the senior management that internal
+control measures have played their roles as expected, their
+weakness identified in the control have been corrected, and
+risk management policies and internal control procedures have
+been revised, in the event of any major changes. The Board
+and the Audit Committee supervise the control activities of the
+management team to ensure the effectiveness of the control
+股東權利
+measures.
+識別、評估及管理重大風險
+管理層及相關員工識別可能對公司及運營構成潛在
+影響之風險,評估監控環境和流程方面的風險。通
+過比較風險評估結果,排列風險優先次序,釐定風
+險管理策略及內部監控程式,以防止、避免或降低
+風險。
+主要風險與相關監控措施,均持續檢討和更新,以
+確保設有適當的內部監控程式。根據測試結果,於
+出現任何重大變動時,有關的負責人員向高層管理
+人員確認內部監控措施發揮預期作用,或已在確定
+的監控弱點予以糾正,修訂風險管理政策及內部監
+控程式。董事會及審核委員會監督管理層的監控活
+動以致監控措施的成效。
+Annual Review
+In 2021,the Board reviewed the soundness and effectiveness
+of the Group's risk management and internal control systems,
+covering financial, operational and compliance control, with a
+self-evaluation report issued on the internal control. In addition,
+the Company retained an auditor to audit the effectiveness of
+the internal control related to the Company's financial reports,
+and to provide independent and objective assessments and
+suggestions in the form of audit report. The Board considers that
+the Company's risk management and internal control systems are
+effective and adequate.
+The Group has an Internal Audit Department which, equipped
+with an independent internal audit system, plays an important role
+in the Group's risk management and internal control framework.
+The Internal Audit Department reports directly to the Audit
+Committee. The annual and quarterly work plans of the Internal
+Audit Department are reviewed by the Audit Committee and
+reported to the Audit Committee regularly. Major audit findings
+shall be reported on a timely basis. Based on its consideration,
+the Audit Committee will provide advice for the Board and the
+senior management, with subsequent measures taken to review
+the implementation of the rectification and improvement plans.
+年度評估
+二零二一年,董事會已對集團的風險管理及內部控
+制體系(包括財務、經營及合規控制)的健全性和
+有效性進行了檢討,並出具了內部控制自我評價報
+告。同時,公司還聘請了審計師對公司財務報告相
+關的內部控制有效性進行審計,以審計報告的形式
+提供獨立客觀的評價與建議。董事會認為,公司的
+風險管理及內部控制體系有效且充分。
+內部審核
+本集團設有審計部門,推行獨立的內部審計制度,
+在本集團的風險管理及內部監控框架扮演重要角
+色。該部門直接向審核委員會匯報,內部審核部門
+的年度、季度工作計劃報審核委員會審閱,並定
+期向審核委員會作出報告,重要審核發現需及時報
+告,由審核委員會審議後向董事會、管理層提出建
+議,並通過後續跟蹤的方式檢討整改計劃的落實情
+況。
+BYD Company Limited
+Internal Audit
+The management team and relevant staff identify risks that may
+exert potential impacts on the Company and its operation, and
+evaluate and monitor risks in the environment and process.
+Through comparison of the risk appraisal results and risk
+prioritization, risk management strategies and internal control
+procedures are determined to prevent, avoid or reduce risks.
+本集團制定一套有關披露內幕消息的政策,載列符
+合(香港法例第571章)證券及期貨條例及時處理及
+發佈內幕消息的程式及內部監控措施。除非內幕消
+息屬於證券及期貨條例所允許任何安全港��圍內,
+否則本集團需透過聯交所營運之電子登載系統及時
+向公眾人士發佈有關資料。所有董事、高級人員及
+相關僱員須在刊發公佈前採取合理預防措施,將內
+幕消息及相關公佈(如適用)保密。倘本集團認為無
+法維持必要的保密程度,本集團將及時在合理可行
+情況下盡快向公眾披露有關資料。該政策及其有效
+性須進行定期檢討。
+本公司已採納上市規則附錄十所載上市發行人董事
+進行證券交易的標準守則(「標準守則」),作為本公
+司董事進行有關證券交易的行為守則。在向所有的
+董事作出特定查詢後,於年內,所有董事有關其證
+券交易均已遵守標準守則項下的義務。
+68
+披露內幕消息
+Under the Company's Articles of Association, any one or more
+shareholders holding not less than one-tenth of the paid-up capital
+of the Company carrying the right of voting at general meetings of
+the Company shall at all times have the right, by written requisition
+to the Board, to require an extraordinary general meeting to be
+called by the Board for considering any matters specified in such
+requisition.
+SHAREHOLDERS' RIGHTS
+Specified employees who are likely to be in possession of
+unpublished inside information of the Group are also subject to
+compliance with the Model Code. No incident of non-compliance
+was noted by the Company in 2021.
+The Company has adopted the Model Code for Securities
+Transactions by Directors of Listed Issuers (the "Model Code")
+contained in Appendix 10 of the Listing Rules as the Company's
+code of conduct regarding securities transactions by its Directors.
+Having made specific inquiry of all Directors, the Company
+confirmed all Directors have complied with their obligations under
+the Model Code regarding their securities transactions during the
+Year.
+董事的證券交易
+DIRECTORS' SECURITIES TRANSACTIONS
+The Group has put in place a set of policy for the disclosure of
+inside information which sets out the procedures and internal
+controls for the handling and dissemination of inside information
+in a timely manner and in compliance with the Securities and
+Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
+Unless the inside information falls within any of the safe harbors
+as permitted under the Securities and Futures Ordinance, the
+Group is required to disseminate such information through the
+electronic publication system operated by the Stock Exchange to
+the public in a timely manner. All Directors, officers and relevant
+employees are required to take reasonable precautions for
+preserving the confidentiality of inside information and the relevant
+announcement (if applicable) before publication. If the Group
+believes that the necessary degree of confidentiality cannot be
+maintained, the Group will immediately disclose the information to
+the public as soon as reasonably practicable. The policy and its
+effectiveness are subject to review on a regular basis.
+Disclosure of Inside Information
+企業管治報告
+Corporate Governance Report
+比亞迪股份有限公司
+業務回顧載於年報第19頁至26頁,構成董事會報告
+的一部分。
+The Group has been a positive respondent for environmental
+protection. While helping reduce energy consumption through
+green products, the Group also focuses on reducing the direct
+impacts of its operation on the environment. By introducing
+an energy management system, promoting the replacement of
+traditional energy with renewable energy and saving energy
+through technical and management means, BYD continues
+to reduce its own energy consumption and carbon dioxide
+emissions.
+股東務須向彼等的稅務顧問諮詢有關擁有及處置本
+公司H股所涉及中國、香港及其他稅務影響的意見。
+Principal risks and uncertainties faced by the Group
+業務回顧
+Please refer to note 50 to the financial statements for details
+of the main financial risks faced by the Group and the Group's
+management objectives and policies regarding such risks. In
+addition to such financial risks, the Directors are of the view that
+any material change in relevant government policies (such as the
+Chinese Government's policies on economic development and
+environmental protection) is also one of the principal risks and
+uncertainties that may affect the Group's business.
+Environmental policies
+比亞迪於全球運營要求嚴格遵守法律、社會規範、
+職業道德準則及內部規定。本集團已成立法律法規
+管理委員會,負責定期及不時監測、監督及檢查各
+部門的法律法規管理及執行情況,且評估其於該等
+領域的執行及遵守情況。於二零二一年年內,本公
+司知悉,概無重大違反或不遵守本集團適用法律法
+規,且對本集團業務及經營造成重要影響的事件。
+有關本集團所面臨主要財務風險及本集團關於該等
+風險的管理目標及政策的詳情,請參閱財務報表附
+註50。除該等財務風險外,董事認為,有關���府政
+策(如中國政府的經濟發展及環境保護政策)的任何
+重大變動亦為可能影響本集團業務的主要風險及不
+確定因素之一。
+環保政策
+本集團積極響應環保政策。在通過綠色產品來減少
+能耗的同時,本集團亦注重減輕其運營對環境的直
+接影響。比亞迪通過引進能源管理系統、推進以可
+再生能源替代傳統能源及通過技術與管理方式節約
+能源,持續減少其自身能耗及二氧化碳排放。
+Regulatory compliance
+Management Committee which monitors, supervises and
+inspects, regularly and from time to time, the management and
+implementation of laws and regulations in various departments,
+and evaluates their implementation and compliance in such areas.
+During the year of 2021, as far as the Company is aware, there
+was no material breach of or non-compliance with applicable laws
+and regulations by the Group that has a significant impact on the
+business and operations of the Group.
+BYD Company Limited
+The business review set out on pages 19 to 26 of the annual
+report shall form an integral part of this Report of the Directors.
+守則遵守情況
+本集團面對的主要風險及不確定因素
+BYD requires stringent compliance with laws, social norms,
+professional ethics and internal regulations in its worldwide
+operations. The Group has established the Law and Regulation
+Report of the Directors
+Shareholders are recommended to consult their tax advisor
+regarding the ownership and disposal of H shares of the Company
+in the PRC and in Hong Kong and other tax effects.
+The Company will publish announcement, circular and notice
+regarding the AGM in accordance with the Listing Rules and the
+Articles of Association of the Company. The Company will also
+make separate announcement regarding the record date and
+date of closure of register of members for the payment of the final
+dividend to the holders of H shares. It is expected that the final
+dividend will be distributed before 31 August 2022.
+董事會已議決建議派發截至二零二一年十二月三十
+一日止年度末期股息每股人民幣1.05元(包含稅項)
+(截止二零二零年十二月三十一日止之年度:派發每
+股人民幣0.148元(包含稅項))。如實施權益分派股
+權登記日公司總股本發生變動,公司擬維持分配總
+額不變,相應調整每股分配金額。建議末期股息須
+待本公司將召開的股東週年大會(「股東週年大會」)
+上審議及批准後方可作實。
+76
+本公司將根據上市規則及本公司的組織章程細則就
+股東週年大會刊發公告、通函及股東週年大會通
+告。本公司亦將另行刊發有關記錄日期及因向H股
+股東派付末期股息而暫停辦理股份過戶登記手續的
+日期的公告。預期末期股息將於二零二二年八月三
+十一日前分派。
+73
+74
+BYD Company Limited
+比亞迪股份有限公司
+董事會報告
+The final dividend will be denominated and declared in RMB.
+The holders of A shares will be paid in RMB and the holders of H
+shares will be paid in Hong Kong dollars. The exchange rate for
+the dividend to be paid in Hong Kong dollars will be the mean of
+the exchange rates of Hong Kong dollar to RMB as announced
+by the People's Bank of China during the five business days prior
+to the date of declaration of the dividend at the Extraordinary
+General Meeting.
+In accordance with the Enterprise Income Tax Law of the People's
+Republic of China and its implementation regulations which
+came into effect on 1 January 2008,the Company is required
+to withhold and pay enterprise income tax at the rate of 10% on
+behalf of the non-resident enterprise shareholders whose names
+appear on the register of members for H shares when distributing
+the cash dividends. Any H shares not registered under the name
+of an individual shareholder, including HKSCC Nominees Limited,
+other nominees, agents or trustees, or other organisations or
+groups, will be deemed as shares held by non-resident enterprise
+shareholders. Therefore, the enterprise income tax will be withheld
+from dividends payable to such shareholders. If holders of H
+shares intend to change its shareholder status, please enquire
+about the relevant procedures with your agents or trustees. The
+Company will strictly comply with the law or the requirements of
+the relevant government authority and withhold and pay enterprise
+income tax on behalf of the relevant shareholders based on the
+register of members for H shares as at the record date of the final
+dividend.
+In accordance with the Circular on Certain Issues Concerning
+the Policies of Individual Income Tax (Cai Shui Zi [1994] No.
+020)promulgated by the Ministry of Finance and the State
+Administration of Taxation on 13 May 1994, overseas individuals
+are, temporarily, exempted from the PRC individual income tax for
+dividend or bonuses received from foreign-invested enterprises.
+In accordance with the Letter of the State Administration of
+Taxation concerning Taxation Issues of Dividends Received by
+Foreign Individuals Holding Shares of Companies Listed in China
+(Guo Shui Han Fa [1994] No. 440) as promulgated by the State
+Administration of Taxation on 26 July 1994, dividends (capital
+bonuses) received by foreign individuals holding B shares or
+overseas shares (including H shares) from Chinese enterprises
+issuing such B shares or overseas shares are temporarily
+exempted from individual income tax. Accordingly, in the payment
+of final dividends, the Company will not withhold and pay the
+individual income tax on behalf of individual shareholders
+when the Company distributes the final dividend to individual
+shareholders whose names appear on the register of members of
+H shares of the Company.
+末期股息將以人民幣計值和宣派,以人民幣向A股股
+東發放,以港元向H股股東發放。以港元發放的股
+息計算的匯率以在特別股東大會宣派股息日之前五
+個工作日的中國人民銀行公佈的港元兌換人民幣平
+均基準匯率為準。
+根據自二零零八年一月一日起施行的《中華人民共和
+國企業所得稅法》及其實施條例,本公司向名列於H
+股股東名冊上的非居民企業股東派發現金股息時,
+有義務代扣代繳企業所得稅,稅率為10%。任何以
+非個人股東名義,包括以香港中央結算(代理人)有
+限公司、其他代名人、代理人或受託人、其他組織
+及團體名義登記的H股股份皆被視為非居民企業股
+東所持的股份,因此,其應得股息將被扣除企業所
+得稅。如H股股東需要更改股東身份,請向代理人
+或受託人查詢相關手續。本公司將嚴格依法或根據
+政府相關部門的要求,並依照截至末期股息記錄日
+期的H股股東名冊代扣代繳企業所得稅。
+根據財政部、國家稅務總局於一九九四年五月十三
+日發佈的《關於個人所得稅若干政策問題的通知》
+(財稅字[1994]020號)的規定,外籍個人從外商投
+資企業取得的股息、红利所得,暫免徵收個人所得
+稅。根據國家稅務總局於一九九四年七月二十六日
+發佈的《外籍個人持有中國境內上市公司股票所取得
+的股息有關稅收問題的函》(國稅函發[1994]440號)
+的規定,對持有B股或海外股(包括H股)的外籍個
+人,從發行該B股或海外股的中國境內企業所取得的
+股息(紅利)所得,暫免徵收個人所得稅。據此,本
+公司在派付末期股息時,本公司對名列於公司H股
+股東名冊上的個人股東將不代扣代繳中國個人所得
+稅。
+Annual Report 2021
+二零二一年年報
+75
+Report of the Directors
+董事會報告
+BUSINESS REVIEW
+比亞迪股份有限公司
+年內,本公司或其任何附屬公司均概無買賣或贖回
+本公司任何上市證券。
+董事會報告
+本集團及本公司的物業、廠房及設備的變動詳情載
+於財務報表附註14。
+SHARE CAPITAL
+Details of the movements in share capital of the Company are set
+out in note 40 to the financial statements.
+During the Year, neither the Company nor any of its subsidiaries
+purchased, sold or redeemed any of the listed securities of the
+Company.
+股本
+本公司的股本變動詳情載於財務報表附註40。
+Annual Report 2021
+二零二一年年報
+物業、廠房及設備
+77
+董事會報告
+DISTRIBUTABLE RESERVES
+Distributable_reserves of the Company as at 31 December 2021,
+calculated under the relevant legislation applicable in the PRC,
+the Company's place of incorporation, amounted to approximately
+RMB480,324,000 (2020: RMB462,339,000).
+BANK LOANS
+As at 31 December 2021,details of bank loans of the Group are
+set out in note 35 to the financial statements.
+(八) 公司向內資股股東支付股利以及其他款項,
+以人民幣計價和宣佈,在公司章程規定的期
+限內用人民幣支付;公司向外資股股東支付
+股利及其他款項,以人民幣計價和宣佈,在
+章程規定的期限內以外幣支付。兌換率應以
+宣派股利或其他分派當日前五個工作天中國
+人民銀行所報的相關外幣兌人民幣的平均收
+市價折算,公司需向外資股股東支付的外
+幣,應當按照國家有關外匯管理的規定辦
+理。經股東大會授權,董事會可決定分配中
+期股利或紅利。
+PRE-EMPTIVE RIGHTS
+Report of the Directors
+Report of the Directors
+本集團在截至二零二一年十二月三十一日止年度作
+出慈善及其他捐贈款合共人民幣47,552,000元(二
+零二零年:人民幣35,783,000元)。
+本集團及本公司在本年度的儲備變動詳情分別載於
+合併權益變動表及財務報表附註42。
+Relationship with employees
+Since employees are the foundation for development, the Group
+adheres to the "people-oriented" principle in its human resources
+management and practices equal employment opportunities
+and prohibits any career discrimination. The Group reviews its
+employee compensation policies on a regular basis and bonuses
+and commission may be awarded to employees based on their
+annual performance evaluation. Efforts have also been made to
+help employees in the aspects of housing, transportation and
+children's education, etc.
+Relationship with customers and suppliers
+The Group strives to build and maintain long term and strong
+relationships with customers. BYD has established a customer
+satisfaction management system with a view to understanding and
+fulfilling customers' demands and enhancing their satisfaction.
+In terms of suppliers, the Group's objective is to keep mutually
+beneficial and win-win partnerships with all suppliers. At the
+same time, the Group regularly evaluates the performance of our
+suppliers including suppliers' social responsibility.
+RESERVES
+Details of movements in the reserves of the Group and the
+Company during the Year are set out in the Consolidated
+Statement of Changes in Equity and note 42 to the financial
+statements, respectively.
+捐款
+DONATIONS
+PROPERTY, PLANT AND EQUIPMENT
+Details of the movements in property, plant and equipment of the
+Group and the Company are set out in note 14 to the financial
+statements.
+與僱員的關係
+由於僱員為發展的基石,本集團於人力資源管理方
+面堅持「以人為本」的原則,創造平等的就業機會並
+禁止一切職業歧視。本集團定期檢討其僱員薪酬政
+策,且根據年度工作表現評核,僱員會獲發花紅及
+獎金。本集團亦於住房、交通及兒童教育等方面努
+力幫助僱員。
+與客戶及供應商的關係
+本集團努力與客戶建立及維持長期牢固關係。比亞
+迪已建立一個客戶滿意度管理系統,以瞭解及滿足
+客戶的需求,並提高其滿意度。於供應商方面,本
+集團的目的在於,與所有供應商保持互利共贏的夥
+伴關係。同時,本集團會定期評核供應商的表現(包
+括供應商的社會責任)。
+儲備
+Charitable and other donations made by the Group during the
+year ended 31 December 2021 amounted to RMB47,552,000
+(2020: RMB35,783,000).
+(七) 在考慮及實際分紅時,公司董事會應當考慮
+公司章程中列出的情況及因素。
+與投資者的關係
+The Board has resolved to recommend the payment of final
+dividend of RMB1.05 per share (including tax) for the year
+ended 31 December 2021 (for the year ended 31 December
+2020: the payment of RMB0.148 per share (including tax)). If
+there is a change in the total share capital of the Company
+on the date of registration of the implementation of the equity
+distribution, the Company intends to maintain the total distribution
+amount unchanged and adjusts the distribution amount per
+share accordingly. The proposed final dividend is subject to the
+consideration and approval of the shareholders at the forthcoming
+annual general meeting (the “AGM") of the Company.
+Annual Report 2021
+二零二一年年報
+71
+Report of the Directors
+董事會報告
+The directors of the Company (the “Board") agreed to hereby
+submit the annual report together with the audited consolidated
+financial statements of BYD Company Limited (the "Company")
+and its subsidiaries (together with the Company hereinafter
+collectively referred to as the “Group") for the year ended 31
+December 2021.
+本公司董事(「董事會」)同意謹將比亞迪股份有限公
+司(以下簡稱「本公司」)及其附屬公司(連同本公司
+統稱「本集團」)截至二零二一年十二月三十一日止
+年度報告連同已經審核的合併財務報表呈覽。
+PRINCIPAL ACTIVITIES AND GEOGRAPHICAL
+ANALYSIS OF OPERATIONS
+The Group is principally engaged in automobile business which
+includes traditional fuel-engined vehicles and new energy
+vehicles, handset components and assembly services, as well
+as rechargeable battery and photovoltaic business while taking
+advantage of its technological superiority to actively develop
+urban rail transportation and other business segment. The
+activities of the Company's subsidiaries are set out in note 1 to
+the financial statements. There were no significant changes in
+the nature of the Group's principal activities for the year ended
+31 December 2021. Further discussion and analysis of principal
+activities are set out in the Management Discussion and Analysis
+on pages 16 to 38 of the annual report.
+年內,鑒於比亞迪股份有限公司(以下簡稱「本公
+司」或「公司」)已於2021年11月8日根據一般性授權
+完成50,000,000股新增H股配售及其登記,本公司
+的註冊資本、股本總額發生相應變化;同時公司根
+據《中華人民共和國證券法》(2019年修訂)、《中華
+人民共和國公司法》(2018年修正)、《上市公司章程
+指引》(2019年修訂)、《上市公司治理準則》(2018
+年修訂)及《深圳證券交易所股票上市規則》(2020年
+修訂)等相關法律、法規、部門規章、規範性文件及
+公司制度的規定,並結合實際情況,對《公司章程》
+及《董事會議事規則》、《監事會議事規則》、《獨立董
+事制度》、《募集資金管理制度》、《關��交易決策制
+度》、《會計師事務所選聘制度》、《對外擔保制度》等
+內部規則及制度進行了相關修訂。公司董事會分別
+於二零二一年八月二十七日及二零二一年十一月十
+二日的董事會,以及本公司股東於二零二一年十一
+月三十日舉行的股東特別大會上分別通過了相關議
+案,批准修訂本公司《公司章程》及上述若干內部規
+則及制度。有關修訂詳情,請參閱本公司日期為二
+零二一年十一月十三日的通函。本公司組織章程及
+上述內部規則及制度的大綱及細則之最新版本,可
+於本公司及香港聯交所網站參閱。
+An analysis of the Group's performance for the year ended 31
+December 2021 by business and geographical segments of
+operations is set out in note 4 to the financial statements.
+The results of the Group for the year ended 31 December 2021
+are set out in the consolidated financial statements and their notes
+on pages 92 to 311 of this annual report.
+Dividend Distribution Policy
+(1)
+The Company's profit distribution policy shall focus on
+providing investors with reasonable investment returns
+as well as maintaining the sustainable development of
+the Company. The Company's profit distribution shall not
+exceed the range of the accumulated distributable profits
+or damage the Company's ability to continue operations.
+A sustained and steady profit distribution policy shall be
+implemented.
+主要業務及營運地區的分析
+本集團的主要業務為包含傳統燃油汽車及新能源汽
+車在內的汽車業務、手機部件及組裝業務,以及二
+次充電電池及光伏業務,同時利用自身的技術優勢
+積極拓展城市軌道交通及其他業務領域,而本公司
+的附屬公司的業務則詳載於財務報表附註1。截至二
+零二一年十二月三十一日止年度,本集團主要業務
+性質並無重大改變。有關主要業務的進一步討論及
+分析,詳見載於本年報第16頁至38頁的管理層討論
+及分析。
+截至二零二一年十二月三十一日止年度業務類型
+及營運地區分類的本集團業績表現分析載於財務報
+表附註4。
+RESULTS AND APPROPRIATIONS
+業績及分配
+本公司相信,與投資者的有效溝通對增進投資者對
+本公司的認識及暸解乃至關重要。為達致該目標,
+本公司實施促進投資者關係及溝通的積極政策。因
+此,本公司的投資者關係政策主要乃旨在讓投資者
+可公平和及時取得作出最佳投資決策時所合理需要
+的資料。
+The Company believes that effective communication with
+investors is essential for enhancing investors' knowledge and
+understanding of the Company. To achieve this, the Company
+pursues a proactive policy of promoting investor relations and
+communications. The main purpose of the Company's investor
+relations policy, therefore, is to enable investors to have access,
+on a fair and timely basis, to information that is reasonably
+required for making the best investment decisions.
+There is no provision for pre-emptive rights under the Company's
+Articles of Association and there is no similar restriction against
+such rights under the laws of the PRC in respect of joint stock
+limited companies, which would oblige the Company to offer new
+shares on a pro-rata basis to existing shareholders.
+Annual Report 2021
+二零二一年年報
+Corporate Governance Report
+企業管治報告
+Any shareholder holding not less than 1% of the paid-up share
+capital of the Company carrying the right of voting at general
+meetings of the Company may, as a proxy solicitor, publicly
+request, either by himself/herself or by appointing a securities
+company or securities service provider, the shareholders of the
+Company to authorize him/her to attend general meetings and
+exercise the right to make proposals, right to vote, and other
+rights of shareholders.
+Any one or more shareholders holding not less than 3% of the
+paid-up capital of the Company carrying the right of voting
+at general meetings of the Company may make a provisional
+proposal and submit it in writing to the convener of the meeting
+ten days prior to the date of the general meeting. The convener
+shall, within two days upon receipt of the proposal, issue a
+supplementary notice of the general meeting announcing the
+contents of such provisional proposal.
+Furthermore, a shareholder may propose a person other than a
+retiring Director for election as a Director at a general meeting.
+For such purpose, the shareholder must send to the Board a
+notice in writing of the intention to propose a person for election
+as a Director and notice in writing by that person of his or her
+willingness to be so elected, no earlier than the day after the
+dispatch of the notice of the relevant general meeting and not
+later than 7 days prior to the date appointed for the relevant
+general meeting.
+Shareholders may send their requisitions and inquiries requiring
+the Board's attention to the Company Secretary at the Company's
+principal place of business in Hong Kong at Unit 1712, 17th Floor,
+Tower 2 Grand Central Plaza,No.138 Shatin Rural Committee
+Road, New Territories, Hong Kong. Other general inquiries can be
+directed to the Company through our Investor and Media Relations
+Consultant, whose contact information is disclosed in the section
+headed “Corporate Information” of this annual report.
+持有本公司附有可於本公司股東大會上投票權利的
+已繳股本不少於百分之一的任何一名股東,可以作
+為徵集人,自行或者委託證券公司、證券服務機
+構,公開請求公司股東委託其代為出席股東大會,
+並代為行使提案權、表決權等股東權利。
+During the year, given that BYD Company Limited (the
+“Company”) has completed the placing of 50,000,000 new
+H Shares under the General Mandate and the registration on
+8 November 2021, there are corresponding changes in the
+registered capital and total share capital of the Company.
+Further, pursuant to the Securities Law of the People's Republic
+of China (2019 Revision),the Company Law of the People's
+Republic of China (2018 Revision), the Guidelines for the Articles
+of Association of Listed Companies (2019 Revision),the Code
+of Corporate Governance for Listed Companies (2018 Revision)
+and the Rules Governing the Listing of Shares on Shenzhen Stock
+Exchange (2020 Revision), and the provisions of other relevant
+laws and regulations, departmental rules, regulatory documents
+and regulations of the Company, and combined with the actual
+situation, it is proposed to make relevant amendments to the
+internal rules and regulations of the Company including the
+Articles of Association, the Rules of Procedures of Meetings of
+the Board, the Rules of Procedures of Meetings of the Supervisory
+Committee, the Compliance Manual in relation to Independent
+Directors, the Management System for the Funds Raised, the
+Compliance Manual in relation to Connected Transaction, the
+Rules for the Selection and Appointment of Accountants' Firm and
+the Policy of External Guarantee. The Board and Shareholders
+of the Company passed the relevant resolutions at the Board
+meetings held on 27 August 2021 and 12 November 2021,and
+an extraordinary general meeting held on 30 November 2021
+respectively, to approve the amendments to the Articles of
+Association of the Company and various sets of internal rules and
+regulations mentioned above. For details of relevant amendments,
+please refer to the Company's circular dated on 13 November
+2021. The latest version of the Memorandum and Articles of
+Association of the Company and the above internal rules and
+regulations are available on the websites of the Company and the
+Hong Kong Stock Exchange.
+持有本公司附有可於本公司股東大會上投票權利的
+已繳股本不少於百分之三的任何一名或多名股東,
+可以在股東大會召開10日前提出臨時提案並書面提
+交會議召集人;召集人應當在收到提案後2日內發出
+股東大會補充通知,公告臨時提案的內容。
+股東可將其需要董事會關注的申請書及查詢寄至本
+公司的公司秘書,地址為本公司於香港的主要營業
+地點香港新界沙田鄉事會路138號新城市中央廣場
+二期17樓1712室。其他一般查詢可透過本公司的
+投資者及傳媒關係顧問交予本公司。投資者及傳媒
+關係顧問的聯絡資料已在本年報「公司資料」一節披
+露。
+69
+BYD Company Limited
+70
+比亞迪股份有限公司
+Corporate Governance Report
+企業管治報告
+INVESTOR RELATIONS
+此外,股東可推舉一名本公司退任董事以外之人士
+於股東大會上參選董事。就此目的而言,股東須於
+不早於寄發有關股東大會通告翌日,亦不遲於有關
+股東大會之日期前七日,向董事會送達表明提名參
+選董事人選意向之書面通知以及該獲提名人士發出
+表明其參選意願之書面通知。
+本集團截至二零二一年十二月三十一日止年度的業
+績載於本年報合併財務報表及其附註第92頁至第
+311頁。
+派付股息政策
+(一) 公司股息政策應重視對投資者的合理投資回
+報,並兼顧公司的可持續發展,公司股息分
+派不得超過累計可分配利潤的範圍,不得損
+害公司持續經營能力,實行持續、穩定的股
+息分配政策。
+公司累計可供分配利潤為正值;
+(3)
+The audit firm issues an unqualified audit report on
+the financial report of the Company for the year.
+(3)
+審計機構對公司的該年度財務報告出
+具標準無保留意見的審計報告。
+(V)
+The Board of Directors of the Company may propose the
+Company to make interim cash distribution according to the
+Company's earnings and capital requirement conditions,
+provided that the cash dividend conditions are satisfied.
+五)
+(2)
+在滿足現金分紅條件下,公司董事會可以根
+據公司的盈利狀況及資金需求狀況提議公司
+進行中期現金分配。
+Report of the Directors
+董事會報告
+(VI)
+(VII)
+Depending on the profitability and business growth for the
+year, the Company may distribute profits by way of shares
+to match share capital expansion with business growth,
+provided that the minimum cash dividend payout ratio and
+an optimal share capital base and shareholding structure
+are maintained.
+When considering and conducting profit distribution,
+the Board of Directors of the Company shall take into
+account certain circumstances and factors as set out in the
+Company's Articles of Association.
+(VIII) The Company shall calculate, declare and pay dividends
+and other amounts which are payable to holders of
+domestic shares in Renminbi within the period as
+prescribed by the Articles of Association. The Company
+shall calculate and declare dividends and other payments
+which are payable to holders of overseas-listed foreign
+shares in Renminbi, and shall pay such amounts in the
+foreign currency within the period as prescribed by the
+Articles of Association. The applicable exchange rate
+Ishall be the average closing rate for the relevant foreign
+currency announced by the People's Bank of China of the
+five working days prior to the announcement of payment
+of dividend and other amounts. The Company shall pay
+foreign currencies to holders of overseas-listed foreign
+shares in accordance with the relevant foreign exchange
+control regulations of the State. Authorised by general
+meetings, the Board may determine to distribute interim
+dividends or bonuses.
+Annual Report 2021
+二零二一年年報
+The cumulative distributable profit of the Company
+is positive in value;
+(2)
+公司該年度或半年度實現的可分配利
+潤(即公司彌補虧損、提取公積金後
+所餘的稅後利潤)為正值且現金流充
+裕,實施現金分紅不會影響公司後續
+持續經營;
+72
+BYD Company Limited
+比亞迪股份有限公司
+Report of the Directors
+董事會報告
+(II) The Company may distribute dividends in cash, in
+shares or in a combination of both cash and shares or as
+otherwise permitted by the laws and regulations. When the
+conditions for cash dividend are satisfied, cash dividend
+shall be the priority method of profit distribution.
+(III) The Company's profit distribution shall be prepared by
+the Board of Directors in accordance with the Company's
+operating conditions and the relevant requirements of
+China Securities Regulatory Commission and shall be
+considered and approved at the shareholders' general
+meeting.
+(IV)
+After the profit distribution plan is approved at the general
+meeting of the Company, the Board of Directors of the
+Company shall complete the distribution of dividends within
+two months after convening the shareholders' general
+meeting.
+The profit distributed by the Company in cash each year
+shall not be less than 10% of the realized distributable
+profit for the year, provided that the following cash
+dividend conditions are satisfied and the capital needs for
+the normal production, operation and development of the
+Company are met. The cumulative profit for distribution in
+cash for any three consecutive years shall not be less than
+30% of the average annual distributable profit for such
+three years:
+(1)
+The distributable profit (i.e., the Company's profit
+after tax net of loss and contribution of reserve
+funds) realized by the Company for the year or
+half year is positive in value and the cash flow is
+sufficient. The payment of cash dividends will not
+affect the subsequent continuing operation of the
+Company;
+(二) 公司可以採取現金、股票、現金與股票相結
+合或者法律、法規允許的其他方式分派股
+息。在滿足現金分紅的條件下,應優先採用
+現金分紅的方式分配股息。
+(三) 公司股息分派由董事會根據公司經營狀況和
+中國政監會的有關規定擬定,由股東大會審
+議決定。
+(四)
+公司股東大會對利潤分配方案作出決議後,
+公司董事會須在股東大會召開後2個月內完
+成股息的派發事項。
+公司在滿足下列現金分紅條件,且滿足公司
+正常生產經營和發展的資金需求情況下,每
+年以現金方式分配的利潤應不低於當年實現
+的可分配利潤的10%,任意連續三年以現金
+方式累計分配的利潤應不少於該三年實現的
+年均可分配利潤的30%:
+(1)
+(六) 公司可以根據年度的盈利情況及業績增長狀
+況,在滿足最低現金分紅比例和公司股本規
+模及股權結構合理的條件下,為保持股本擴
+張與業績增長相適應,公司可以採用股票股
+利方式進行利潤分配。
+FIVE-YEAR FINANCIAL SUMMARY
+DIRECTORS' INTERESTS IN CONTRACTS
+DIRECTORS
+Report of the Directors
+董事會報告
+DIRECTORS' AND SUPERVISORS' SERVICE
+CONTRACTS
+董事及監事的服務合約
+All existing Directors had signed or renewed their service
+contracts or letters of appointment with the Company for a term of
+three years commencing on 8 September 2020.
+All existing supervisors had signed or renewed their service or
+employment contracts with the Company for a term of three years
+commencing on 8 September 2020.
+None of the above-mentioned contracts and letters of appointment
+are determinable within one year without payment of compensation
+(other than statutory compensation).
+No transactions, arrangement or contracts of significance in
+relation to the Group's business to which the Group was a party
+and in which a Director or supervisor and an entity related to a
+Director or supervisor of the Company had a material interest,
+whether directly or indirectly, subsisted at the end of the Year or
+at any time during the Year.
+DIRECTORS' REMUNERATION
+The emolument payable to each executive Director is based on
+(i) his duties and responsibilities; (ii) prevailing market conditions;
+and (iii) performance and profitability of the Company.
+The emolument payable to each non-executive director
+(including independent non-executive director) is based on the
+responsibilities and undertaking to the Board taking into account
+his experience and market practice for such post.
+比亞迪股份有限公司
+所有現任董事已與本公司簽訂或重續彼等的服務合
+約或委任函,由二零二零年九月八日起計為期三年。
+上述合約及委任函為不可於一年內無須賠償(法定賠
+償除外)而予以終止之合約。
+董事的合約權益
+於年終或本年度任何時間,本集團概無簽訂任何涉
+及本集團的業務而本公司的董事、監事及與董事或
+監事有關連的實體直接或間接在其中擁有重大權益
+的重要交易、安排或合約。
+董事酬金
+應付各執行董事的酬金為根據(i)其職責及責任;(ii)
+現行市況;及(iii)本公司的業績表現及盈利能力而
+定。
+應付各非執行董事(包括獨立非執行董事)的酬金為
+根據其責任及向董事會作出的承諾,並計及其經驗
+及市場有關該職位的慣例。
+有關董事的酬金詳情載於財務報表附註9。
+BIOGRAPHICAL DETAILS OF DIRECTORS,
+SUPERVISORS AND SENIOR MANAGEMENT
+Brief biographical details of Directors, supervisors and senior
+management of the Company are set out on pages 39 to 50 of this
+annual report.
+董事、監事及高級管理層的個人簡歷
+本公司董事、監事及高級管理層的個人簡歷載於年
+報第39頁至第50頁。
+A summary of the results and of the assets and liabilities of the
+Group for the last five financial years is set out on page 2 and 312
+of this annual report.
+所有現任監事已與本公司簽訂或重續彼等的服務或
+僱傭合約,由二零二零年九月八日起計為期三年。
+78
+Details of the remuneration of the Directors are set out in note 9 to
+the financial statements.
+蔣岩波先生
+The Directors who held office during the year ended 31 December
+2021 and up to the date of this report are:
+BYD Company Limited
+· Executive Director:
+Mr. Wang Chuan-fu
+- Non-executive Directors:
+Mr. Lv Xiang-yang
+Mr. Xia Zuo-quan
+- Independent non-executive Directors:
+Mr. Cai Hong-ping
+Mr. Jiang Yan-bo
+可供分派儲備
+按照本公司註冊成立地點中國的適用法律計算,本
+公司於二零二一年十二月三十一日可供分派儲備
+約為人民幣480,324,000元(二零二零年:人民幣
+462,339,000)
+銀行貸款
+於二零二一年十二月三十一日,本集團的銀行貸款
+詳情載於財務報表附註35
+優先購股權
+Mr. Zhang Min
+°
+張敏先生
+蔡洪平先生
+-獨立非執行董事:
+夏佐全先生
+呂向陽先生
+王傳福先生
+- 執行董事:
+- 非執行董事:
+董事
+本集團上五個財政年度的業績及資產負債摘要載於
+本年報第2頁及312頁。
+五年財務數據摘要
+本公司的組織章程中並無優先購股權的條文,而中
+國與股份有限責任公司相關的法律亦無此等權利相
+類似的限制,規定本公司須向現有股東按比例發售
+新股。
+截至二零二一年十二月三十一日止年度及至本報告
+日期在任的董事如下:
+每位獨立非執行董事已提供書面確認函,確認其根
+據上市規則第3.13條規定,對本公司的獨立性。經
+評估後,本公司認為各獨立非執行董事均為獨立人
+士。
+核數師
+確認獨立性
+AUDITORS
+Ernst & Young,the Company's international auditor, and Ernst
+& Young Hua Ming (LLP),the Company's domestic auditor,will
+retire. Resolutions will be proposed at the forthcoming AGM for
+Shareholders to consider and approve the termination of re-
+appointment of Ernst & Young as the international auditor of the
+Company for 2022 and appoint Ernst & Young Hua Ming (LLP) as
+the domestic auditor for 2022, respectively. The Company did not
+replace its auditor in the past three years.
+本公司之國際核數師安永會計師事務所及境內核數
+師安永華明會計師事務所(特殊普通合夥)之任期將
+屆滿。將於召開的股東週年大會上討論終止續聘安
+永會計師事務所為本公司二零二二年度國際核數師
+及聘任安永華明會計師事務所(特殊普通合夥)為本
+公司二零二二年度境內核數師。本���司於過去三年
+未有更換核數師。
+FUND RAISING AND USE OF PROCEEDS
+87
+Report of the Directors
+董事會報告
+The Company entered into a placing agreement (the "Placing
+Agreement") with UBS AG Hong Kong Branch, Goldman Sachs
+(Asia) L.L.C. and China International Capital Corporation Hong
+Kong Securities Limited (together as Joint Global Coordinators
+and Placing Agents) on 21 January 2021 ("Placing Agreement
+Signing Date") in relation to the placing of 133,000,000 new
+H Shares of the Company. The Placing Price is HK$225.0 per
+Placing Share: (a) a discount of approximately 8.2% to the
+average closing price of approximately HK$245.2 per H Share as
+quoted on the Stock Exchange for the last 10 consecutive trading
+days up to and including 20 January 2021, being the last trading
+day before the Placing Agreement Signing Date; (b) a discount of
+approximately 6.9% to the average closing price of approximately
+HK$241.6 per H Share as quoted on the Stock Exchange for the
+last 5 consecutive trading days up to and including 20 January
+2021;and (c) a discount of approximately 7.8% to the closing
+price of HK$244.0 per H Share as quoted on the Stock Exchange
+on 20 January 2021. The Placing Shares represent approximately
+14.54% of the existing number of H Shares in issue,being
+915,000,000 H Shares, and approximately 4.88% of the number
+of total issued Shares as at the Placing Agreement Signing
+Date. The Placing Shares represent approximately 12.69% of
+the number of issued H Shares and approximately 4.65% of the
+number of total issued Shares, in each case, as enlarged by the
+allotment and issue of the Placing Shares. The aggregate nominal
+value of the Placing Shares under the Placing is RMB133,000,000.
+The Placing Agents placed the Placing Shares to not less than
+six Placees who are independent professional, institutional and/
+or other investors (they and their ultimate beneficial owners are
+third parties not connected with the Company, connected persons
+of the Company and any of the Directors, supervisors, chief
+executive or substantial shareholder(s) of the Company or any
+of its subsidiaries or their respective associates). The Placing
+was completed on 28 January 2021. Details of the Placing were
+disclosed in the Company's announcements dated on 21 January
+2021 and 28 January 2021.
+於本報告日期,根據本公司可從公開途徑取得的資
+料以及就董事所知,董事確認本公司的公眾持股量
+符合上市規則的規定。
+The aggregate gross proceeds from the Placing are approximately
+HK$29,925_million and the net proceeds (after deduction of the
+commissions and estimated expenses) from the Placing are
+approximately_HK$29,801 million; the net price (after deduction
+of the commissions and estimated expenses) raised per H Share
+is approximately HK$224.1. The net proceeds from the Placing
+were intended to be used by the Group to supplement its working
+Annual Report 2021
+二零二一年年報
+公眾持股量的足夠性
+由於蔡洪平先生(彼為本公司獨立非執行董事而為本
+公司關連人士)透過其家族信託控制普通合夥人已發
+行股本的30%以上,因此,普通合夥人為蔡洪平先
+生之聯繫人及本公司關連人士。因此,根據上市規
+則第14A章,認購事項構成本公司的關連交易。由
+於多於一項有關認購事項之適用百分比率(定義見上
+市規則第14.07條)超過0.1%但低於5%,根據上市
+規則第14A章,認購事項僅須遵守申報及公告的規
+定,惟可豁免遵守獨立股東批准的規定。
+CONFIRMATION OF INDEPENDENCE
+董事會(包括獨立非執行董事)認為,本公司參與投
+資基金可借助國際化專業投資機構的行業研究、資
+源整合能力,投資於全球範圍內的科技龍頭企業,
+以獲取長期的投資回報,同時可以延伸公司產業投
+資觸角,促進公司投資與實業協同發展,加強公司
+整體抗風險能力並推動公司全球業務的良性循環。
+capital, repay interest-bearing debt, invest in research and
+development and as general corporate purpose.
+董事會(包括獨立非執行董事)同時認為,該協議之
+條款乃由Golden Link與普通合夥人經公平磋商後
+釐定,屬公平合理,且該協議乃按正常商業條款訂
+立,於本集團一般及日常業務過程中進行,並符合
+本公司及其股東之整體利益。
+除以上所述,截至二零二一年十二月三十一日止年
+度,本集團並無任何根據上市條例所需披露之關連
+人士交易,且本集團已遵守上市規則第14A章的規
+定。
+BYD Company Limited
+86
+比亞迪股份有限公司
+Report of the Directors
+董事會報告
+EVENTS AFTER THE REPORTING PERIOD
+Details of significant subsequent events of the Group are set out
+in note 53 of the financial statements.
+報告期後事項
+本集團之重大結算日後事項詳情載於財務報表附註
+53°
+SUFFICIENCY OF PUBLIC FLOAT
+Based on the information that is publicly available to the Company
+and within the knowledge of its directors as at the date of this
+report, the Directors confirm that the Company had sufficient
+public float as required by the Listing Rules.
+Each independent non-executive director has provided a written
+statement confirming his/her independence to the Company
+pursuant to Rule 3.13 of the Listing Rules. The Company assessed
+that each independent non-executive director continues to be
+independent.
+籌集資金及所得款項用途
+79
+。
+1.
+Berkshire Hathaway Inc. and Berkshire Hathaway Energy
+Company (formerly known as MidAmerican Energy Holdings
+Company) were deemed to be interested in 225,000,000 H
+shares (L) through Western Capital Group LLC, its indirectly
+controlled corporation and whole-owned company for
+225,000,000 H shares directly held by it, respectively.
+1.
+附註:
+Note:
+(L) Long Position (S) – Short position (P) - Lending pool
+(L) - 好倉 (S) - 淡倉(P)-可供借出的股份
+<0.01%
+Annual Report 2021
+二零二一年年報
+Group has complied with the requirements under Chapter 14A of
+the Listing Rules.
+Report of the Directors
+董事會報告
+DIRECTORS', SUPERVISORS' AND CHIEF
+EXECUTIVES' INTERESTS
+As at 31 December 2021,the interests and short positions of
+each of the directors, supervisors and chief executives of the
+Company in the shares, underlying shares and debentures of the
+Company or any associated corporation (within the meaning of
+Part XV of the Securities and Futures Ordinance (Cap 571 of the
+Laws of Hong Kong) (“SFO”)) which were required to be notified
+to the Company and The Stock Exchange of Hong Kong Limited
+(the“Hong Kong Stock Exchange") pursuant to Divisions 7 and
+8 of Part XV of the SFO (including interests which he is taken
+or deemed to have under such provisions of the SFO) or were
+required,pursuant to Section 352 of the SFO, to be entered into
+the register referred to therein, or which were required, pursuant
+to the Model Code for Securities Transactions by Directors of
+Listed Issuers under the Rules Governing the Listing of Securities
+on the Hong Kong Stock Exchange to be notified to the Company
+and the Hong Kong Stock Exchange (for this purpose, the relevant
+provisions of the SFO will be interpreted as if they applied to the
+supervisors) were as follows:
+A shares of RMB1.00 each
+2.
+本公司與UBS AG Hong Kong Branch、 高盛(亞
+洲)有限責任公司及中國國際金融香港證券有限公
+司(作為聯席全球協調人及配售代理)於二零二一年
+一月二十一日(「配售協議簽署日」)訂立了配售協
+議(「配售協議」),有關配售本公司133,000,000股
+新H股。每股配售股份的配售價225.0港元:(a)較
+聯交所所報二零二一年一月二十日前(即配售協議
+簽署日前最後一個交易日,含該日)最後連續十個
+交易日之平均收市價每股H股約245.2港元折讓約
+8.2%;(b)較聯交所所報二零二一年一月二十日前
+(含該日)最後連續五個交易日之平均收市價每股H
+股約241.6港元折讓約6.9%;及(c)較二零二一年一
+月二十日於聯交所所報之收市價每股H股244.0港元
+折讓約7.8%。配售股份相當於配售協議簽署日已發
+行915,000,000股H股的約14.54%,及於配售協議
+簽署日已發行股份總數的約4.88%。配售股份約佔
+經擴大已發行H股數目的約12.69%及配售股份配發
+及發行後經擴大已發行股份總數的約4.65%。所配
+售之配售股份的總面值為人民幣133,000,000元
+配售人包括不少於六名承配人,為獨立專業、機構
+及/或其他投資者(彼等及其最終實益擁有人為獨
+立於本公司、本公司之關連人士、本公司或其任何
+附屬公司之任何董事、監事、最高行政人員或主要
+股東或彼等各自之聯繫人並概無關連的第三方)。配
+售事項已於二零二一年一月二十八日完成,配售事
+項的詳情於本公司日期為二零二一年一月二十一日
+及二零二一年一月二十八日的公告中披露。
+The interests of BlackRock, Inc. were held through its various
+controlled corporations, and of which 267,500 long positions
+were cash settled unlisted derivatives, and 106,500 short
+positions were cash settled unlisted derivatives.
+The total issued share capital of the Company as at 31 December
+2021 was RMB2,911,142,855, divided into 1,813,142,855 A shares
+of RMB1.00 each and 1,098,000,000 H shares of RMB1.00 each,
+all fully paid up.
+配售所得款項總額約為29,925百萬港元,於扣除
+佣金和估計費用後,配售所得款項淨額預計約為
+29,801百萬港元;每股H股所籌集之淨額(扣除佣金
+和估計費用後)約為224.1港元。配售所得款項淨額
+擬用作本集團補充營運資金、償還帶息債務、研發
+投入以及一般企業用途。
+BYD Company Limited
+88
+比亞迪股份有限公司
+Report of the Directors
+董事會報告
+During the six months ended 30 June 2021, the Group has fully
+utilised the net proceeds of approximately RMB24,935 million from
+the Placing (excluding the investment income from exchange rate
+fluctuation and interest of deposits), of which (i) approximately
+RMB11,493 million was used in investment in research and
+development and general corporate purpose; (ii) approximately
+RMB8,796 million was used for repayment of interest-bearing
+debt;and (iii) approximately RMB4,646 million was used to
+supplement the working capital of the Group.
+As at 30 June 2021, the net proceeds from the Placing have
+been fully utilised as intended and there was no material change
+between the intended and actual use of proceeds.
+In addition, the Company entered into a placing agreement
+(the "2nd Placing Agreement") with China International Capital
+Corporation Hong Kong Securities Limited, Goldman Sachs (Asia)
+L.L.C. and Bank of America Merrill Lynch (together as Joint Global
+Coordinators and Placing Agents) on 29 October 2021 (“the 2nd
+Placing Agreement Signing Date") in relation to the placing of
+50,000,000 new H Shares of the Company (the “2nd Placing").
+The Placing Price is HK$276.0 per Placing Share: (a) a discount of
+approximately 6.2% to the average closing price of approximately
+HK$294.2_per H Share as quoted on the Stock Exchange for
+the last 10 consecutive trading days up to and including 29
+October 2021, being the last trading day before the 2nd Placing
+Agreement Signing Date;(b) a discount of approximately 9.3%
+to the average closing price of approximately HK$304.3 per H
+Share as quoted on the Stock Exchange for the last 5 consecutive
+trading days up to and including 29 October 2021;and (c) a
+discount of approximately 6.9% to the closing price of HK$296.6
+per H Share as quoted on the Stock Exchange on 29 October
+2021. The Placing Shares represent approximately 4.77% of the
+existing number of H Shares in issue, being 1,048,000,000 H
+Shares,and approximately 1.75% of the number of total issued
+Shares as at the 2nd Placing Agreement Signing Date. The
+Placing Shares represent approximately 4.55% of the number
+of issued H Shares and approximately 1.72% of the number of
+total issued Shares, in each case, as enlarged by the allotment
+and issue of the Placing Shares. The aggregate nominal value
+of the Placing Shares under the 2nd Placing is RMB50,000,000.
+The Placing Agents placed the Placing Shares to not less than
+six Placees who are independent professional, institutional and/
+or other investors (they and their ultimate beneficial owners are
+third parties not connected with the Company, connected persons
+of the Company and any of the directors, supervisors, chief
+executive or substantial shareholder(s) of the Company or any of
+its subsidiaries or their respective associates). The 2nd Placing
+was completed on 8 November 2021. Details of the 2nd Placing
+were disclosed in the Company's announcements dated on 1
+November 2021 and 8 November 2021.
+截至二零二一年六月三十日止六個月,本集團已悉
+數動用配售事項所得款項淨額約人民幣24,935百萬
+元,不包含匯率波動造成的投資收益及存款利息,
+其中(i)約人民幣11,493百萬元用於研發投入及一般
+企業用途;(ii)約人民幣8,796百萬元用於償還帶息
+債務;及(iii)約人民幣4,646百萬元用於補充本集團
+營運資金。
+截至二零二一年六月三十日,本輪配售事項所得款
+項淨額已全部按計劃使用完畢,實際用途與計劃不
+存在重大差異。
+此外,本公司與中國國際金融香港證券有限公司、
+高盛(亞洲)有限責任公司及美銀美林集團(作為聯
+席全球協調人及配售代理)於二零二一年十月二十九
+日(「配售協議簽署日」)訂立了配售協議(「第2份配
+售協議」),有關配售本公司50,000,000股新H股。
+每股配售股份的配售價276.0港元:(a)較聯交所所
+報二零二一年十月二十九日前(即配售協議簽署日
+前最後一個交易日,含該日)最後連續十個交易日
+之平均收市價每股H股約294.2港元折讓約6.2%;
+(b)較聯交所所報二零二一年十月二十九日前(含該
+日)最後連續五個交易日之平均收市價每股H股約
+304.3港元折讓約9.3%;及(c)較二零二一年十月二
+十九日於聯交所所報之收市價每股H股296.6港元折
+讓約6.9%。配售股份相當於配售協議簽署日已發行
+1,048,000,000股H股的約4.77%,及於配售協議簽
+署日已發行股份總數的約1.75%。配售股份約佔經
+擴大已發行H股數目的約4.55%及配售股份配發及發
+行後經擴大已發行股份總數的約1.72%。所配售之
+配售股份的總面值為人民幣50,000,000元。配售人
+包括不少於六名承配人,為獨立專業、機構及/或
+其他投資者(彼等及其最終實益擁有人為獨立於本公
+司、本公司之關連人士、本公司或其任何附屬公司
+之任何董事、監事、最高行政人員或主要股東或彼
+等各自之聯繫人並概無關連的第三方)。配售事項已
+於二零二一年十一月八日完成,配售事項的詳情於
+本公司日期為二零二一年十一月一日及二零二一年
+十一月八日的公告中披露。
+MidAmerican Energy Holdings Company)
+分別被視為透過其間接控制公司及全資持有公
+司Western Capital Group LLC所直接持有的
+225,000,000股H股,於225,000,000股H股(L)
+之中擁有權益。
+Berkshire Hathaway Inc. & Berkshire
+Hathaway Energy Company (
+2.
+Save as described above, there was no connected transaction
+entered into by the Group for the year ended 31 December 2021
+which is required to be disclosed under the Listing Rules, and the
+採購額
+The Board (including the independent non-executive Directors)
+is also of the view that, the terms of the Agreement were
+determined after arm's length negotiations between Golden Link
+and the General Partner, which are fair and reasonable, and
+the Agreement was entered into on normal commercial terms,
+conducted in the ordinary and usual course of business of the
+Group and in the interests of the Company and the Shareholders
+as a whole.
+RETIREMENT SCHEME
+Currently, all PRC subsidiaries of the Group participate in defined
+contribution retirement schemes (the “Schemes") launched by
+local provincial and municipal governments in China, pursuant
+to which the Group makes contributions to the Schemes in
+accordance with the applicable percentage of the salary of
+eligible staff. Local government authorities assume the obligation
+in respect of all the pensions payable to retired staff.
+Save for the above contributions, the Group does not have any
+other major payment obligation in respect of pension benefits.
+二零零九年九月,本集團控股股東王傳福先生簽署
+《不競爭承諾》,向本公司確認其遵守不參與競爭事
+業的承諾。董事(包括獨立非執行董事)已審核遵守
+情況並確認控股股東已遵守不競爭契約的所有承諾。
+退休計劃
+現時本集團的各中國附屬公司參與一些由中國當地
+省市政府機關籌辦的定額供款退休福利計劃(「該等
+計劃」),據此,本集團須按合資格僱員薪金的適用
+比率向該等計劃作出供款。地方政府機關就應付退
+休僱員的全部退休金承擔責任。
+除上述供款外,本集團並無其他的重大退休金福利
+付款責任。
+BYD Company Limited
+84
+比亞迪股份有限公司
+Report of the Directors
+董事會報告
+MAJOR CUSTOMERS AND SUPPLIERS
+In September 2009,Mr. Wang Chuan-fu, the controlling
+shareholder of the Group, signed the Non-competition
+Undertakings to confirm with the Company that he would abide
+by the undertaking of not engaging in business that competes
+with that of the Company. Directors, including independent
+non-executive directors, have examined his compliance and
+confirmed that the controlling shareholder has abided by all the
+undertakings.
+The percentage of purchases and sales for the year ended 31
+於本財政年度,概無董事從事與本公司或其任何附
+屬公司競爭業務中取得利益。
+截至二零二一年十二月三十一日止年度,本公司並
+無就整體業務或任何重要業務的管理或行政工作簽
+訂或存有任何合約。
+Annual Report 2021
+二零二一年年報
+83
+Report of the Directors
+董事會報告
+PERMITTED INDEMNITY PROVISION
+At no time during the financial year and up to the date of this
+report, there was or is, any permitted indemnity provision being
+in force for the benefit of any of the directors of the Company
+(whether made by the Company or otherwise) or an associated
+company (if made by the Company).
+Pursuant to the Company's Articles of Association, the Company
+may take out liability insurance for the Directors and other senior
+management members with the content of the shareholders'
+general meeting to provide appropriate cover for them.
+MANAGEMENT CONTRACTS
+No contract concerning the management or administration of the
+whole or any substantial part of the business of the Company was
+entered into or existed during the year ended 31 December 2021.
+COMPETING BUSINESS
+During the financial year, no director acquired benefits by
+engaging in business that competes with that of the Company or
+its subsidiaries.
+獲准許之彌償條文
+於本財政年度及直至本報告日期止任何時間,概不
+存在任何以本公司任何董事(不論是否由本公司或以
+其他方式制定)或聯營公司(倘由本公司制定)為受
+益人的獲准許彌償條文。
+根據本公司公司章程,經股東大會批准,本公司可
+以為董事和其他高級管理人員購買責任保險,為彼
+等提供適當保障。
+管理合約
+競爭業務
+As Mr. Cai Hong-ping, a connected person of the Company
+by virtue of him being an independent non-executive Director,
+controls more than 30% of the issued share capital of the General
+Partner through his Family Trust, the General Partner is therefore
+an associate of Mr. Cai Hong-ping and a connected person
+of the Company. Accordingly, the subscription constitutes a
+connected transaction of the Company under Chapter 14A of the
+Listing Rules. As more than one applicable percentage ratios (as
+defined under Rule 14.07 of the Listing Rules) in relation to the
+subscription exceed 0.1% but are less than 5%, the Subscription
+is only subject to reporting and announcement requirements
+but are exempt from the independent shareholders' approval
+requirements pursuant to Chapter 14A of the Listing Rules.
+December 2021 attributable to the Group's major suppliers and
+customers are as follows:
+本集團的主要供應商及客戶佔截至二零二一年十二
+月三十一日止年度的採購額及銷售額百分比如下:
+The subscribed capital contribution of Golden Link was
+determined after arm's length negotiations between Golden Link
+and the General Partner with reference to, among others, (i) the
+proposed capital requirements of the fund; (ii) the prospect of the
+fund; (iii) financial resources available to the Group; and (iv) the
+maximum fund size. The subscribed capital contribution will be
+funded by internal resources of the Group.
+16.49%
+33.62%
+董事、彼等的緊密聯繫人或任何股東(指據董事所知
+擁有本公司5%以上已發行股本的股東)並無於上述
+的任何主要供應商或客戶中擁有任何權益。
+關聯方交易
+本集團年內從事的關聯方交易概況載列於財務報表
+附註47(a)、(b)及(c)。該等關聯方交易並不構成上
+市規則第14A章界定的本集團的關連交易。
+於二零二一年四月八日,本公司全資附屬公司
+Golden Link Worldwide Limited ([Golden Link]
+作為認購人)與基金AGIC Fund II L.P.(由AGIC GP
+II Limited(「普通合夥人」)行事)訂立認購協議(「該
+協議」)。據該協議,Golden Link同意向基金作出
+120,000,000美元的認繳出資額,大約佔基金規模
+上限之8.63%,並獲接納為基金的有限合夥人。
+Golden Link的認繳出資額由其與普通合夥人經公平
+磋商後釐定,並經參考(其中包括)(i)基金的建議資
+金要求;(ii)基金前景;(iii)本集團可用財務資源;及
+(iv)基金規模上限。認繳出資額將以本集團的內部資
+源撥付。
+Annual Report 2021
+二零二一年年報
+85
+Report of the Directors
+董事會報告
+The Board (including the independent non-executive Directors)
+is of the view that, the participation in the investment fund by the
+Company allow the Group to invest in industry-leading scientific
+enterprises in the world and obtain long-term investment returns,
+by leveraging the industry research and resource integration
+capabilities of international professional investment institutions,
+and also to extend the Company's reach in industrial investments,
+facilitate the synergistic development between the Company's
+investment and principal business activities, enhance the overall
+risk-resistance capability of the Company and promote the
+virtuous cycle of the Company's global business.
+On 8 April 2021, Golden Link Worldwide Limited (“Golden Link”,
+as a Subscriber), a wholly-owned subsidiary of the Company,
+entered into the Subscription Agreement (the "Agreement") with
+a fund,AGIC Fund II L.P. (acting by AGIC GP II Limited (the
+“General Partner")),pursuant to which Golden Link agreed to
+make a subscribed capital contribution of US$120,000,000 to the
+fund,representing approximately 8.63% of the maximum fund
+size, and was accepted as the limited partner of the fund.
+主要客戶及供應商
+A summary of the related party transactions undertaken by the
+Group during the Year is set out in notes 47(a), (b) and (c) to
+the financial statements. Such related party transactions did not
+constitute connected transactions of the Group under Chapter
+14A of the Listing Rules.
+(who, to the knowledge of the Directors, owns more than 5% of
+the Company's issued share capital) had an interest in any of the
+major suppliers or customers noted above.
+Purchases
+the largest supplier
+- the five largest suppliers combined
+Sales
+- the largest customer
+董事、監事及最高行政人員的權益
+-最大供應商
+- 五位最大供應商合計
+銷售額
+13.40%
+28.41%
+-最大客戶
+- 五位最大客戶合計
+the five largest customers combined
+None of the directors, their close associates or any shareholder
+RELATED PARTY TRANSACTIONS
+於二零二一年十二月三十一日,本公司董事、監事
+及最高行政人員各自於本公司或任何相聯法團(定義
+見香港法例第571章證券及期貨條例(「證券及期貨
+條例」)第XV部)的股份、相關股份及債券中擁有根
+據證券及期貨條例第XV部第7及8分部須知會本公司
+及香港聯合交易所有限公司(「香港聯交所」)的權益
+及淡倉(包括根據證券及期貨條例有關條文持有或被
+視為擁有的權益),或根據證券及期貨條例第352條
+須記錄於指定登記冊,或根據香港聯交所證券上市
+規則的上市公司董事進行證券交易的標準守則須知
+會本公司及香港聯交所的權益(就此目的而言,證券
+及期貨條例的相關條文將詮釋為適用於監事)如下:
+(L) - Long Position
+Name
+於二零二一年十二月三十一日,就本公司董事所
+知,以下人士(不包括本公司董事、監���及最高行政
+人員)於本公司股份及相關股份中擁有根據證券及期
+貨條例第XV部第2及3分部須向本公司及香港聯交所
+披露或根據證券及期貨條例第336條載入本公司存
+置的登記冊的權益或淡倉:
+擁有須予知會權益的股東
+除上述披露者外,於二零二一年十二月三十一日,
+概無本公司董事、監事或最高行政人員於本公司或
+其任何相聯法團(定義見證券及期貨條例第XV部)的
+股份、相關股份或債權證中擁有權益或淡倉而須(a)
+記錄於本公司根據證券及期貨條例第352條存置的
+登記冊內;或(b)根據上市公司董事進行證券交易的
+標準守則須知會本公司及香港聯交所。
+As at 31 December 2021,to the knowledge of the Directors of
+the Company, the following persons (other than the Directors,
+supervisors and chief executives of the Company) had interests
+or short positions in the shares and underlying shares of the
+Company which were required to be disclosed to the Company
+and the Hong Kong Stock Exchange under the provisions of
+Divisions 2 and 3 of Part XV of the SFO, or were required to be
+entered in the register kept by the Company pursuant to Section
+336 of the SFO:
+SHAREHOLDERS WITH NOTIFIABLE INTERESTS
+Saved as disclosed above, as at 31 December 2021, none of the
+Directors, supervisors or chief executives of the Company had
+any interest or short position in the shares, underlying shares or
+debentures of the Company or any of its associated corporations
+(within the meaning of Part XV of the SFO) which was required
+to be (a) recorded in the register to be kept by the Company
+pursuant to Section 352 of the SFO; or (b) notified to the Company
+and the Hong Kong Stock Exchange pursuant to the Model Code
+for Securities Transactions by Directors of Listed Issuers.
+1.
+董事會報告
+81
+Annual Report 2021
+二零二一年年報
+於500,000股H股中,夏佐全先生以實益擁有人身份持
+有195,000股H股,而由夏佐全先生全資擁有的Sign
+Investments Limited則持有305,000股H股。
+Of the 500,000 H shares, 195,000 H shares were held by Mr. Xia Zuo-
+quan as a beneficial owner and 305,000 H shares were held by Sign
+Investments Limited, which was wholly owned by Mr. Xia Zuo-quan.
+附註:
+(L) - 好倉
+Report of the Directors
+A shares of RMB1.00 each
+1. 每股人民幣1.00元的A股
+Number of
+持股量佔已發行
+in total issued
+share capital
+(%)
+Approximate
+percentage of
+shareholding
+in total issued
+A shares (%)
+持股量佔已發行
+A 股總數的
+概約百分比(%)
+Approximate
+percentage of
+shareholding
+附註:
+Note:
+(L) - 好倉
+(L) - Long Position
+155,149,602 (L)
+融捷投資(附註)
+Youngy Investment (Note)
+A shares
+A股數目
+名稱
+Name
+(附註)
+(Note)
+500,000 (L)
+0.02%
+Xia Zuo-quan (Director)
+Wang Chuan-fu (Director)
+姓名
+Name
+H shares of RMB1.00 each
+在該394,378,222股A股之中,239,228,620
+股A股由呂向陽先生以個人身份持有及
+155,149,602股A股由融捷投資控股集團有限公
+司(融捷投資,前稱為廣州融捷投資管理集團
+有限公司)持有。融捷投資則由呂向陽先生及
+其配偶分別持有89.5%股權及10.5%股權,因
+此根據證券及期貨條例,呂向陽先生被視為於
+155,149,602股A股中擁有權益。
+在該513,623,850股A股之中,不包含王傳福先
+生通過易方達資產比亞迪增持1號資產管理計劃
+持有的3,727,700股A股股份;
+2.
+Of the 394,378,222 A shares, 239,228,620 A shares were held
+by Mr. Lv Xiang-yang in his personal capacity and 155,149,602
+A shares were held by Youngy Investment Holding Group
+Co.,Ltd.(融捷投資控股集團有限公司) (“Youngy Investment”,
+formerly known as Guangzhou Youngy Management &
+Investment Group Company Limited). Youngy Investment was
+in turn held by Mr. Lv Xiang-yang and his spouse as to 89.5%
+and 10.5% of equity interests, respectively. Mr. Lv Xiang-yang
+was therefore deemed to be interested in the 155,149,602 A
+shares under the SFO.
+2.
+1.
+The 513,623,850 A shares did not include the 3,727,700 A
+shares held by Mr. Wang Chuan-fu in No.1 Assets Management
+Plan through E Fund BYD;
+1.
+附註:
+BlackRock,Inc.的權益乃通過其各控制公司持
+有,其中267,500股好倉為現金結算非上市衍
+生工具,及106,500股淡倉為現金結算非上市
+衍生工具。
+王傳福(董事)
+夏佐全(董事)
+股本總額的
+(L) - Long Position
+每股人民幣1.00元之H股
+0.05%
+0.03%
+0.09%
+1,000,000 (L)
+概約百分比(%)
+股本總額的
+H股總數的
+概約百分比(%)
+H股數目
+H shares
+Number of
+持股量佔已發行
+in total issued
+share capital
+(%)
+Approximate
+percentage of
+shareholding
+in total issued
+H shares (%)
+持股量佔已發行
+Approximate
+percentage of
+shareholding
+Note:
+概約百分比(%)
+8.56%
+5.33%
+394,378,222 (L)
+21.75%
+13.55%
+(Note 2)
+(附註2)
+Xia Zuo-quan (Director)
+夏佐全(董事)
+82,635,607 (L)
+4.56%
+2.84%
+(L) - 好倉
+BYD Company Limited
+80
+比亞迪股份有限公司
+Report of the Directors
+董事會報告
+呂向陽(董事)
+Notes:
+Lv Xiang-yang (Director)
+(Note 1)
+姓名
+A shares
+A股數目
+Wang Chuan-fu (Director)
+王傳福(董事)
+513,623,850 (L)
+Number of
+Approximate
+percentage of
+shareholding
+in total issued
+A shares (%)
+持股量佔已發行
+A股總數的
+概約百分比(%)
+Approximate
+percentage of
+shareholding
+in total issued
+share capital
+(%)
+持股量佔已發行
+股本總額的
+概約百分比(%)
+17.64%
+28.33%
+(附註1)
+每股人民幣1.00元之A股
+0.01%
+1.89%
+名稱
+Name
+H shares
+Number of
+2. 每股面值人民幣1.00元的H股
+H shares of RMB1.00 each
+2.
+董事會報告
+Report of the Directors
+比亞迪股份有限公司
+82
+BYD Company Limited
+融捷投資由本公司非執行董事呂向陽先生擁有89.5%權
+益。因此,根據證券及期貨條例,呂先生被視為於融捷
+投資持有的155,149,602股A股中擁有權益。
+be interested in the 155,149,602 A shares held by Youngy Investment
+under the SFO.
+Youngy Investment is owned by Mr. Lv Xiang-yang, a non-executive
+Director of the Company, as to 89.5%.Mr. Lv is therefore deemed to
+H股數目
+106,500 (S)
+in total issued
+H shares (%)
+持股量佔已發行
+H 股總數的
+概約百分比(%)
+Approximate
+percentage of
+shareholding
+5.01%
+54,957,313 (L)
+7.73%
+20.49%
+225,000,000 (L)
+7.73%
+20.49%
+225,000,000 (L)
+7.73%
+20.49%
+225,000,000 (L)
+Berkshire Hathaway Inc. (1)
+Berkshire Hathaway Energy (1)
+Western Capital Group LLC (1)
+BlackRock, Inc. (2)
+Berkshire Hathaway Inc. (Note 1)
+Berkshire Hathaway Energy (Note 1)
+Western Capital Group LLC (Note 1)
+BlackRock, Inc. (Note 2)
+持股量佔已發行
+股本總額的
+概約百分比(%)
+in total issued
+share capital
+(%)
+Approximate
+percentage of
+shareholding
+於二零二一年十二月三十一日,本公司已發
+行股本總額為人民幣2,911,142,855元,分為
+1,813,142,855股每股面值人民幣1.00元的A股及
+1,098,000,000股每股面值人民幣1.00元的H股,全
+部均為實收資本。