Annual Report 2020

Sunny Optical Technology (Group) Company Limited • ANNUAL REPORT 2020 30 Management Discussion and Analysis 管理層討論與分析 The trade payables turnover days (average of the opening and closing trade payable balances/cost of sales × 365 days) increased from approximately 82 days for the year ended 31 December 2019 to approximately 98 days for the year ended 31 December 2020. The increase in the trade payables turnover days was mainly attributable to the continuous strengthening of supply chain managements and strategic stocking by the Group. The inventory turnover days (average of the opening and closing inventory balances/cost of sales × 365 days) increased from approximately 50 days for the year ended 31 December 2019 to approximately 68 days for the year ended 31 December 2020. The increase in inventory turnover days was mainly attributable to the strategic stocking by the Group. Investing Activities The Group recorded a net cash used in investing activities of approximately RMB5,976.2 million for the year ended 31 December 2020, which was mainly attributable to purchases and release of unlisted financial products of approximately RMB59,212.3 million and approximately RMB56,304.0 million during the year ended 31 December 2020 respectively, and the Group’s capital expenditure amounted to approximately RMB2,798.4 million during the year. Financing Activities The Group recorded a net cash used in financing activities of approximately RMB222.3 million for the year ended 31 December 2020. The cash inflow mainly came from proceeds from new bank borrowings raised of approximately RMB3,810.4 million. Major outflows were the repayment of bank borrowings of approximately RMB2,793.7 million, dividends paid to shareholders of approximately RMB796.5 million, interest paid of approximately RMB224.4 million and purchase of shares under share award scheme of approximately RMB151.4 million. Capital Expenditure For the year ended 31 December 2020, the Group’s capital expenditure amounted to approximately RMB2,798.4 million, which was mainly used for the purchases of property, plant and equipment, payments for leasehold lands, payment for intangible assets and purchase of other tangible assets. All of the capital expenditure was financed by internal resources and bank borrowings. 貿易應付款項周轉日數（期初和期末貿易應付 款項平均餘額╱銷售成本 ×365 日）由截至二零 一九年十二月三十一日止年度的約 82 日上升至 截至二零二零年十二月三十一日止年度的約 98 日。貿易應付款項周轉日數增加主要是因為本 集團持續加強了供應鏈管理，並進行了戰略性 備貨。 存貨周轉日數（期初和期末存貨平均餘額 ╱ 銷售成本 ×365 日）由截至二零一九年十二月 三十一日止年度的約 50 日上升至截至二零二零 年十二月三十一日止年度的約 68 日。存貨周轉 日數增加主要是因為本集團進行了戰略性備貨。 投資活動 本集團於截至二零二零年十二月三十一日 止年度的投資活動所用現金淨額約人民幣 5,976,200,000 元，這主要是由於在截至二零 二零年十二月三十一日止年內分別收購及解除 非上市金融產品約人民幣 59,212,300,000 元及 約人民幣 56,304,000,000 元和本集團於年內的 資本開支約人民幣 2,798,400,000 元。 融資活動 本集團於截至二零二零年十二月三十一日 止年度的融資活動所用現金淨額約人民幣 222,300,000 元，流入現金主要來自新增的銀 行借貸約人民幣 3,810,400,000 元，而主要流 出則是償還銀行借貸約人民幣 2,793,700,000 元、向股東派付股息約人民幣 796,500,000 元、已付利息約人民幣 224,400,000 元及根據 股份獎勵計劃購買股份約人民幣 151,400,000 元。 資本開支 截至二零二零年十二月三十一日止年度，本集 團的資本開支約人民幣 2,798,400,000 元，主 要用作購置物業、機器及設備、租賃土地付 款、無形資產付款和購置其他有形資產。所有 資本開支均以內部資源及銀行借貸撥付。