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.
DONGFENG MOTOR GROUP COMPANY LIMITED*
東風汽車集團股份有限公司
(a joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code: 489)
2018 ANNUAL RESULTS ANNOUNCEMENT
The Board of Directors (the "Board") of Dongfeng Motor Group Company Limited (the "Company") is pleased to announce the audited consolidated results of the Company and its subsidiaries (the "Group" or the "Dongfeng Motor Group") for the year ended 31 December 2018 together with the comparative figures in 2017.
In this announcement, unless otherwise specified, all references to business, including manufacture, research and development, outputs and sales volume, market share, investment, sales network, employee, motivation, social responsibility, corporate governance includes all relating to the Dongfeng Motor Group, subsidiaries, joint ventures and associates (including subsidiaries, joint ventures and associates of the Company in which the members of the Group have direct or indirect equity interests).
DONGFENG MOTOR GROUP COMPANY LIMITED
CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2018
Notes
Revenue | 3 |
Cost of sales | |
Gross profit | |
Other income | 4 |
Selling and distribution expenses | |
Administrative expenses | |
Net impairment losses on financial assets | 7 |
Other expenses | |
Finance expenses | 6 |
Share of profits and losses of: | |
Joint ventures | |
Associates | |
PROFIT BEFORE INCOME TAX | 5 |
Income tax expense | 8 |
PROFIT FOR THE YEAR |
Profit attributable to:
Equity holders of the Company
Non-controlling interests
Earnings per share attributable to ordinary | 10 |
equity holders of the Company: Basic for the year
Diluted for the year
1
Year ended 31 December
2018 | 2017 | |
RMB million | RMB million | |
(Restated) | ||
(Note 2.2) | ||
104,543 | 125,980 | |
(91,128) | (109,716) | |
13,415 | 16,264 | |
3,164 | 2,817 | |
(6,342) | (7,460) | |
(4,506) | (4,610) | |
(1,006) | - | |
(5,683) | (6,425) | |
(265) | (592) | |
12,280 | 13,574 | |
3,182 | 2,207 | |
14,239 | 15,775 | |
(1,661) | (1,148) | |
12,578 | 14,627 | |
12,979 | 14,061 | |
(401) | 566 | |
12,578 | 14,627 |
150.64 cents | 163.20 cents | |
150.64 cents | 163.20 cents |
DONGFENG MOTOR GROUP COMPANY LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2018 | ||||
Year ended 31 December | ||||
2018 | 2017 | |||
RMB million | RMB million | |||
(Restated) | ||||
(Note 2.2) | ||||
PROFIT FOR THE YEAR | 12,578 | 14,627 | ||
OTHER COMPREHENSIVE INCOME | ||||
Items that will not be reclassified subsequently | ||||
to profit or loss | ||||
Share of other comprehensive income of | ||||
investments accounted for using the equity | ||||
method | 234 | (70) | ||
Remeasurements of post-employment benefit | ||||
obligations | (8) | 119 | ||
Changes in the fair value of financial assets at fair | ||||
value through other comprehensive income | 101 | - | ||
327 | 49 | |||
Items that may be reclassified to profit or loss | ||||
Currency translation differences | 80 | 659 | ||
Share of other comprehensive income of | ||||
investments accounted for using the equity | ||||
method | (144) | (252) | ||
(64) | 407 | |||
Income tax effect | ||||
Item that will not be reclassified subsequently | ||||
to profit or loss | (18) | (26) | ||
OTHER COMPREHENSIVE INCOME FOR | ||||
THE YEAR, NET OF TAX | 245 | 430 | ||
TOTAL COMPREHENSIVE INCOME FOR | ||||
THE YEAR | 12,823 | 15,057 | ||
Total comprehensive income attributable to: | ||||
Equity holders of the Company | 13,222 | 14,446 | ||
Non-controlling interests | (399) | 611 | ||
12,823 | 15,057 | |||
2 |
DONGFENG MOTOR GROUP COMPANY LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2018 | ||||
31 December | ||||
2018 | 2017 | |||
Notes | RMB million | RMB million | ||
(Restated) | ||||
(Note 2.2) | ||||
ASSETS | ||||
Non-current assets | ||||
Property, plant and equipment | 15,835 | 15,088 | ||
Investment properties | 170 | - | ||
Lease prepayments | 1,476 | 1,224 | ||
Intangible assets | 4,809 | 4,237 | ||
Goodwill | 1,816 | 1,763 | ||
Investments in joint ventures | 44,647 | 39,858 | ||
Investments in associates | 17,682 | 14,614 | ||
Available-for-sale financial assets | - | 174 | ||
Financial assets at fair value through other | ||||
comprehensive income | 219 | - | ||
Other non-current assets | 21,726 | 18,269 | ||
Deferred income tax assets | 2,376 | 2,532 | ||
Due from joint ventures | 538 | - | ||
Total non-current assets | 111,294 | 97,759 | ||
Current assets | ||||
Inventories | 10,710 | 10,657 | ||
Trade receivables | 11 | 7,582 | 6,354 | |
Bills receivable | 14,940 | 14,730 | ||
Prepayments, deposits and other receivables | 39,602 | 26,760 | ||
Due from joint ventures | 9,586 | 13,590 | ||
Financial assets at fair value through profit or loss | 1,899 | - | ||
Pledged bank balances and time deposits | 3,653 | 10,617 | ||
Cash and cash equivalents | 27,251 | 33,441 | ||
Total current assets | 115,223 | 116,149 | ||
TOTAL ASSETS | 226,517 | 213,908 |
3
DONGFENG MOTOR GROUP COMPANY LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2018
Notes
EQUITY AND LIABILITIES
Equity attributable to equity holders
of the Company Issued capital Reserves Retained profits
Non-controlling interests
TOTAL EQUITY
Non-current liabilities
Interest-bearing borrowings
Other long term liabilities
Government grants
Deferred income tax liabilities
Provisions
Total non-current liabilities
Current liabilities
Trade payables12 Bills payable
Other payables and accruals Contract liabilities
Due to joint ventures Interest-bearing borrowings Income tax payable Provisions
Total current liabilities
TOTAL LIABILITIES
TOTAL EQUITY AND LIABILITIES
31 December
2018 | 2017 |
RMB million | RMB million |
(Restated) | |
(Note 2.2) |
8,616 | 8,616 | |
16,412 | 14,605 | |
93,328 | 85,294 | |
118,356 | 108,515 | |
6,569 | 6,809 | |
124,925 | 115,324 | |
10,729 | 2,398 | |
1,894 | 1,438 | |
1,767 | 771 | |
2,086 | 1,555 | |
659 | 652 | |
17,135 | 6,814 | |
17,222 | 21,571 | |
19,918 | 22,563 | |
13,312 | 17,512 | |
2,439 | - | |
14,385 | 13,630 | |
15,424 | 14,381 | |
630 | 828 | |
1,127 | 1,285 | |
84,457 | 91,770 | |
101,592 | 98,584 | |
226,517 | 213,908 |
4
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DFM - Dongfeng Motor Group Co. Ltd. published this content on 27 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 March 2019 14:59:15 UTC