BYD ELECTRONIC (INTERNATIONAL) COMPANY LIMITED 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.
(incorporated in Hong Kong under the Companies Ordinance with limited liability)
(Stock code: 285)Website: http://www.byd-electronic.com
ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2016Turnover 25.43% To RMB36,734 million
Gross profit 47.10% To RMB2,800 million Profit attributable to owners of the parent 35.83% To RMB1,233 million Earnings per share 35.83% To RMB0.55 Proposed final dividend RMB0.069 per share
HIGHLIGHTSThe continuous increase in the penetration rate of metal parts led to significant growth in revenue of the metal parts business of the Group.
The proactive expansion of new business sectors (such as auto electronics) cultivated new growth point for the Group's continuous development in future.
We proactively research and develop new products and new materials, and apply them to more consumer electronics.
The Board ("Board") of Directors (the "Directors") of BYD Electronic (International) Company Limited (the "Company" or "BYD Electronic") is pleased to announce the consolidated results of the Company and its subsidiaries (the "Group") for the year ended 31 December 2016 (the "Year") together with comparative figures in 2015.
CONSOLIDATED STATEMENT OF PROFIT OR LOSS Year ended 31 December 2016 | |||
Notes | 2016 RMB'000 | 2015 RMB'000 | |
REVENUE 4 | 36,734,264 | 29,285,830 | |
Cost of sales | (33,934,135) | (27,382,285) | |
Gross profit | 2,800,129 | 1,903,545 | |
Other income and gains | 4 | 474,005 | 451,442 |
Government grants and subsidies | 5 | 25,502 | 47,852 |
Research and development expenses | (978,772) | (722,270) | |
Selling and distribution expenses | (184,698) | (152,044) | |
Administrative expenses | (562,215) | (453,609) | |
Other expenses | (113,914) | (35,390) | |
Finance costs | 6 | (26,953) | (3,089) |
PROFIT BEFORE TAX | 7 | 1,433,084 | 1,036,437 |
Income tax expense | 8 | (199,593) | (128,292) |
PROFIT FOR THE YEAR Attributable to owners of the parent | 1,233,491 | 908,145 | |
- Basic and diluted
- For profit for the year 9 RMB0.55 RMB0.40
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOMEYear ended 31 December 2016
2016 2015RMB'000 RMB'000
PROFIT FOR THE YEAR 1,233,491 908,145 OTHER COMPREHENSIVE INCOMEOther comprehensive income to be reclassified to profit or loss in subsequent periods
Exchange differences on translation of foreign operations | 123,917 | (25,578) |
Net other comprehensive income/(expense) to be reclassified to profit or loss in subsequent periods | 123,917 | (25,578) |
OTHER COMPREHENSIVE INCOME (EXPENSE) FOR THE YEAR, NET OF TAX | 123,917 | (25,578) |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,357,408 | 882,567 |
Attributable to owners of the parent | 1,357,408 | 882,567 |
CONSOLIDATED STATEMENT OF FINANCIAL As at 31 December 2016 | POSITION | ||
Notes | 31 December 2016 RMB'000 | 31 December 2015 RMB'000 | |
NON-CURRENT ASSETS Property, plant and equipment | 6,396,606 | 6,656,894 | |
Prepaid land lease payments | 215,155 | 219,049 | |
Prepayments for property, plant and equipment | 398,569 | 292,952 | |
Other intangible assets | 24,938 | 17,680 | |
Loan to the ultimate holding company | 400,000 | 400,000 | |
Deferred tax assets | 215,990 | 210,502 | |
Total non-current assets | 7,651,258 | 7,797,077 | |
CURRENT ASSETS Inventories | 3,337,732 | 3,948,269 | |
Trade and bills receivables | 10 | 9,394,599 | 7,906,438 |
Prepayments, deposits and other receivables | 397,974 | 359,174 | |
Due from related party | 4,786 | ||
Pledged deposits | 1,155 | ||
Short-term deposits | 247,360 | 268,600 | |
Cash and cash equivalents | 2,966,064 | 1,958,902 | |
Total current assets | 16,343,729 | 14,447,324 | |
CURRENT LIABILITIES Trade and bills payables | 11 | 10,118,810 | 9,265,345 |
Other payables | 1,998,659 | 2,234,186 | |
Due to related parties | 2,760 | 29,055 | |
Tax payable | 120,536 | 168,036 | |
Total current liabilities | 12,240,765 | 11,696,622 | |
NET CURRENT ASSETS | 4,102,964 | 2,750,702 | |
Net assets | 11,754,222 | 10,547,779 | |
EQUITY Share capital | 12 | 4,052,228 | 4,052,228 |
Other reserves | 7,701,994 | 6,495,551 | |
Total equity | 11,754,222 | 10,547,779 |
BYD Electronic (International) Co. Ltd. published this content on 28 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 March 2017 15:15:03 UTC.
Original documenthttp://www.byd-electronic.com/u/cms/www/201703/282306072806.pdf
Public permalinkhttp://www.publicnow.com/view/C9225513A102226AAA3544FAD5F1E0800DEE551A
