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CHINA EVERGRANDE GROUP
中 國 恒 大 集 團
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 3333)
ANNOUNCEMENT OF UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017
FINANCIAL HIGHLIGHTS
Revenue increased by 114.8% to RMB187.98 billion for the six months ended 30 June 2017 (the Reporting Period) from RMB87.50 billion for the corresponding period of 2016.
Gross profit increased by 171.7% to RMB67.30 billion for the Reporting Period from RMB24.77 billion for the corresponding period of 2016, and gross profit margin increased by
7.5 percentage points to 35.8% from 28.3% for the corresponding period of 2016.
Core business profit1 was RMB27.30 billion for the Reporting Period, an increase of 249.6% as compared with the corresponding period of 2016, and core business profit margin was 14.5%,
5.6 percentage points higher than that of the corresponding period of 2016.
Net profit for the Reporting Period was RMB23.13 billion, 224.4% higher than that of the corresponding period of 2016, and net profit margin was 12.3%, 4.2 percentage points higher than that of the corresponding period of 2016.
Profit attributable to shareholders for the Reporting Period was RMB18.83 billion, 832.2% higher than that of the corresponding period of 2016.
Selling, general and administrative expenses for the Reporting Period was 7.1% to the revenue,
6.3 percentage points lower than that of the corresponding period of 2016.
1 Core business profit represents net profit excluding fair value gains on investment properties, exchange losses, losses on financial assets at fair value through profit or loss, other losses and one-off donation.
Contracted sales during the Reporting Period amounted to RMB244.09 billion, representing a year-on-year increase of 72.2%. The gross floor area of contracted sales was 24.751 million square meters, representing a year-on-year growth of 49.1%. The average price of contracted sales was RMB9,862 per square meter, representing a year-on-year increase of 15.5%.
The gross floor area of our land reserves was 276 million square meters as at 30 June 2017, representing an increase of 48.4% as compared with 186 million square meters as at 30 June 2016.
The board of directors (the ''Board'') of China Evergrande Group (the ''Company'') is pleased to announce the unaudited consolidated results of the Company and its subsidiaries (the ''Group'') for the six months ended 30 June 2017.
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Six months ended 30 June
Note | 2017 (Unaudited) RMB million | 2016 (Unaudited) RMB million | |
Revenue | 4 | 187,981 | 87,498 |
Cost of sales | (120,677) | (62,728) | |
Gross profit | 67,304 | 24,770 | |
Fair value gains on investment properties | 4 | 6,001 | 3,283 |
Fair value losses on financial assets at fair value through | |||
profit or loss | 9 | (266) | (425) |
Other income | 6 | 2,520 | 1,875 |
Other losses, net | 8 | (7,023) | - |
Selling and marketing costs | (7,824) | (8,029) | |
Administrative expenses | (5,430) | (3,664) | |
Other operating expenses | (2,051) | (1,620) | |
Operating profit | 53,231 | 16,190 | |
Finance costs, net | 7 | (5,151) | (1,782) |
Share of profits/(losses) of investments accounted for | |||
using the equity method | 263 | (71) | |
Profit before income tax | 48,343 | 14,337 | |
Income tax expenses | 10 | (25,216) | (7,210) |
Profit for the period | 23,127 | 7,127 |
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Continued)
Six months ended 30 June 2017 2016
(Unaudited) (Unaudited)
RMB million RMB million
Other comprehensive income
Item that may be reclassified to profit or loss
Change in value of available-for-sale financial assets,
net of tax 2,435 468
Share of other comprehensive income of investments
accounted for using the equity method | 2,017 | (197) |
Currency translation differences | (241) | 175 |
Other comprehensive income for the period, net of tax | 4 ,211 | 446 |
Total comprehensive income for the period | 27,338 | 7,573 |
Profit attributable to: Shareholders of the Company | 18,834 | 2,017 |
Non-controlling interests | 4,293 | 5,110 |
23,127 | 7,127 | |
Total comprehensive income attributable to: Shareholders of the Company | 22,028 | 2,463 |
Non-controlling interests | 5,310 | 5,110 |
27,338 | 7,573 | |
Earnings per share for profit attributable to shareholders of the Company for the period (expressed in RMB per share) - Basic earnings per share | 1.400 | 0.147 |
- Diluted earnings per share | 1.374 | 0.145 |
Dividends | - | - |
China Evergrande Group published this content on 28 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 August 2017 09:47:05 UTC.
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