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CHINA HENGSHI FOUNDATION COMPANY LIMITED中國恒石基業有限公司
(Incorporated under the laws of Cayman Islands with limited liability)
(Stock code: 1197) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2017 INTERIM RESULTS HIGHLIGHTSThe revenue of the Group for the six months ended 30 June 2017 was approximately RMB594.0 million (for the six months ended 30 June 2016: approximately RMB613.0 million), representing a decline of approximately 3.10% as compared with that for the same period last year.
The gross profit of the Group for the six months ended 30 June 2017 was approximately RMB217.7 million (for the six months ended 30 June 2016: approximately RMB203.2 million), representing an increase of approximately 7.14% as compared with that for the same period last year.
The profit for the period attributable to the owners of the Company during the six months ended 30 June 2017 was approximately RMB104.7 million (for the six months ended 30 June 2016: approximately RMB112.2 million), representing a decline of approximately 6.68% as compared with that for the same period last year.
The basic earnings per Share attributable to the owners of the Company for the six months ended 30 June 2017 was approximately RMB0.10 (for the six months ended 30 June 2016: approximately RMB0.11).
The Board did not recommend the payment of interim dividends for the six months ended 30 June 2017 (for the six months ended 30 June 2016: nil).
The board (the "Board") of directors (the "Directors") of China Hengshi Foundation Company Limited (the "Company") is pleased to announce the unaudited consolidated interim results of the Company and its subsidiaries (collectively the "Group") for the six months ended 30 June 2017 (the "Review Period"), together with the comparative figures for the six months ended 30 June 2016 as follows:
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFOR THE SIX MONTHS ENDED 30 JUNE 2017
For the six months ended 30 JuneNotes | 2017 RMB'000 (Unaudited) | 2016 RMB'000 (Unaudited) | |
Revenue | 3 | 594,004 | 613,031 |
Cost of sales | (376,255) | (409,853) | |
Gross profit | 217,749 | 203,178 | |
Other income | 4 | 5,725 | 16,752 |
Other gains and losses | 5 | (6,932) | 1,107 |
Selling and distribution expenses | (50,326) | (36,511) | |
Administrative expenses | (20,884) | (22,856) | |
Research expenditure | (16,264) | (18,615) | |
Other expenses | (811) | (196) | |
Finance costs | (60) | (4,207) | |
Profit before tax | 6 | 128,197 | 138,652 |
Income tax expense | 7 | (23,095) | (26,938) |
Profit for the period | 105,102 | 111,714 |
Notes RMB'000 RMB'000
(Unaudited) (Unaudited)Other comprehensive expense
Items that may be subsequently reclassified to profit or loss:
Exchange differences arising on translating foreign
operations | (1,133) | (1,299) | |
Total comprehensive income for the period | 103,969 | 110,415 | |
Profit (loss) for the period attributable to: Owners of the Company | 104,700 | 112,200 | |
Non-controlling interests | 402 | (486) | |
105,102 | 111,714 | ||
Total comprehensive income (expense) for the period attributable to: | |||
Owners of the Company | 103,551 | 111,035 | |
Non-controlling interests | 418 | (620) | |
103,969 | 110,415 | ||
Earnings per share - basic (RMB) | 9 | 0.10 | 0.11 |
AT 30 JUNE 2017
Notes | 30/06/2017 RMB'000 (Unaudited) | 31/12/2016 RMB'000 (Audited) | |
NON-CURRENT ASSETS Property, plant and equipment | 538,348 | 510,597 | |
Prepaid lease payments | 29,645 | 30,033 | |
Deferred tax assets Deposits paid for acquisition of property, plant and equipment | 12,439 108,361 | 10,538 78,695 | |
688,793 | 629,863 | ||
CURRENT ASSETS Inventories | 141,573 | 126,132 | |
Prepaid lease payments | 776 | 776 | |
Trade and other receivables | 10 | 394,076 | 386,687 |
Bills receivables | 10 | 3,570 | 36,500 |
Amounts due from related parties | 10 | 13,191 | 14,401 |
Pledged bank deposits | 39,105 | 133,603 | |
Bank balances and cash | 260,919 | 269,397 | |
853,210 | 967,496 | ||
CURRENT LIABILITIES Trade and other payables | 11 | 48,055 | 34,779 |
Bills payables | 11 | 132,950 | 271,013 |
Amounts due to related parties | 11 | 123,937 | 11,461 |
Amount due to a shareholder | 7 | 7 | |
Tax payable | 9,848 | 12,579 | |
Bank borrowings | - | 50,000 | |
Deferred revenue | 300 | 300 | |
315,097 | 380,139 | ||
NET CURRENT ASSETS | 538,113 | 587,357 | |
TOTAL ASSETS LESS CURRENT LIABILITIES | 1,226,906 | 1,217,220 |
China Hengshi Foundation Co. Ltd. published this content on 25 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 August 2017 15:52:06 UTC.
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