Greatview Aseptic Packaging : 27/08/2021 - Announcement of Interim Results for the Six Months Ended 30 June 2021 (PDF, 167 kB)

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GREATVIEW ASEPTIC PACKAGING COMPANY LIMITED

紛美包裝有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock code: 00468)

ANNOUNCEMENT OF INTERIM RESULTS

FOR THE SIX MONTHS ENDED 30 JUNE 2021

HIGHLIGHTS

• Revenue for the six months ended 30 June 2021 was RMB1,549.8 million, representing an increase of 14.2%.
• Net profit after tax was RMB144.6 million, representing a decrease of 7.1%, mainly due to margin pressure.
• The Company's PRC business was resilient. Sales volume and revenue increased by approximately 23.3% and 14.2% respectively.
• Solid growth in the international business benefited by new customers' take-up, despite the global markets still being affected by COVID-19 pandemic. Sales volume and revenue increased by approximately 18.9% and 14.3% respectively.
• Interim dividend of HK$0.12 per share.

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The board (the "Board") of directors (the "Directors") of Greatview Aseptic Packaging Company Limited (the "Company" or "Greatview") is pleased to announce the unaudited consolidated interim results of the Company and its subsidiaries (the "Group") for the six months ended 30 June 2021 together with comparative figures for the corresponding period in 2020 as follows:

CONDENSED CONSOLIDATED INCOME STATEMENT

For the six months ended 30 June 2021

		Six Months ended 30 June
		2021		2020
	Note	RMB'000	RMB'000
		(Unaudited)	(Unaudited)
Revenue	3	1,549,787	1,357,208
Cost of sales	5	(1,195,202)	(1,001,200)
Gross profit		354,585		356,008
Other income	4	26,276		12,626
Other gains/(losses) - net	4	8,791		4,378
(Impairment)/reversal of losses on financial assets - net		(5,851)	327
Distribution expenses	5	(104,206)	(81,989)
Administrative expenses	5	(84,665)	(82,125)
Operating profit		194,930		209,225
Finance income	6	3,047		2,881
Finance costs	6	(5,773)	(2,151)
Finance (costs)/ income - net		(2,726)	730
Profit before income tax		192,204		209,955
Income tax expense	7	(47,653)	(54,286)
Profit for the period		144,551		155,669
Profit attributable to:
	144,551
Owners of the Company			155,669
Non-controlling interests		-		-
Other comprehensive income:		144,551		155,669
	-
Item that may be reclassified to profit or loss		-
Currency translation differences		-		-
Total comprehensive income for the period		144,551		155,669
Total comprehensive income attributable to:		144,551
Owners of the Company			155,669
Non-controlling interests		-		-
		144,551		155,669
Earnings per share for profit attributable to equity holders
of the Company (expressed in RMB per share)		RMB0.108
- Basic and diluted earnings per share	8	RMB0.116

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CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the six months ended 30 June 2021

	Six Months ended 30 June
	2021		2020
	RMB'000	RMB'000
	(Unaudited)	(Unaudited)
Profit for the period	144,551		155,669
Other comprehensive income:
Currency translation differences	(25,612)	12,221
Total comprehensive income for the period	118,939		167,890
Attributable to:
- Equity holders of the Company	118,939		167,890
Total comprehensive income for the period	118,939		167,890

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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 30 June 2021

		As at 30	As at 31
		June	December
		2021		2020
	Note	RMB'000	RMB'000
		(Unaudited)	(Audited)
ASSETS
Non-current assets
Property, plant and equipment	9	1,280,325	1,312,236
Right-of-use assets	10	45,835	49,851
Intangible assets		91,170	93,843
Deferred income tax assets		39,928	39,018
Trade receivables	12	15,899	18,957
Prepayments	13	9,752	10,407
		1,482,909		1,524,312
Current assets
Inventories	11	868,230		710,735
Trade and notes receivables	12	582,307		573,051
Prepayments	13	69,015		40,556
Other receivables	13	13,301		11,871
Financial assets at fair value through profit or loss
("FVPL")		5,200		-
Cash and bank equivalents		448,575		577,237
Restricted cash		168,261		183,631
		2,154,889		2,097,081
Total assets		3,637,798		3,621,393
EQUITY
Capital and reserves attributable to the equity holders
of the Company
Share capital, share premium and capital reserve	14	600,260		600,260
Statutory reserve		281,325		281,325
Exchange reserve		(54,341)	(28,729)
Retained earnings		1,627,742		1,638,899
Total equity		2,454,986		2,491,755

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		As at 30	As at 31
		June	December
		2021		2020
	Note	RMB'000	RMB'000
		(Unaudited)	(Audited)
LIABILITIES
Non-current liabilities
Deferred government grants		70,953	73,173
Lease liabilities		1,606	2,316
Deferred income tax liabilities		17,336	21,257
Borrowings	15	9,608	14,044
		99,503		110,790
Current liabilities
Deferred government grants		3,615		7,771
Contract liabilities		11		35
Trade and other payables and accruals	16	875,844		746,379
Income tax liabilities		43,561		41,154
Borrowings	15	139,028		191,525
Lease liabilities		2,122		5,206
Derivative financial instruments		19,128		26,778
		1,083,309		1,018,848
Total liabilities		1,182,812		1,129,638
Total equity and liabilities		3,637,798		3,621,393
Net current assets		1,071,580		1,078,233
Total assets less current liabilities		2,554,489		2,602,545

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