Cimc Enric : Announcement of Annual Results for the Year Ended 31 December 2018, The 2018 Final Dividend, Closure of Register of Members and Withholding and Payment of Enterprise Income Tax for Non-resident Enterprises on Distribution of the 2018 Final Dividend (in PDF)

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.

CIMC Enric Holdings Limited ʕණτ๿߅છٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 3899)

Announcement of

Annual Results for the Year Ended 31 December 2018,

The 2018 Final Dividend,

Closure of Register of Members and

Withholding and Payment of Enterprise Income Tax for

Non-resident Enterprises on Distribution of the

2018 Final Dividend

FINANCIAL HIGHLIGHTS

2018	2017
RMB'000	RMB'000
(restated)
Revenue	13,051,651	10,706,590	21.9%
Profit from operations	1,098,087	743,960	47.6%
Profit attributable to shareholders	785,502	420,077	87.0%
Basic earnings per share	RMB0.403	RMB0.217	85.7%

The Board of Directors (the "Board") of CIMC Enric Holdings Limited (the "Company", and together with its subsidiaries, the "Group") announces the audited financial results of the Group for the year ended 31 December 2018 together with the comparative figures for the year 2017.

CONSOLIDATED INCOME STATEMENT For the year ended 31 December 2018

2017
Note	RMB'000	RMB'000
(restated)
Revenue	3 & 8	13,051,651	10,706,590
Cost of sales	(10,825,903)	(8,979,565)
Gross profit	2,225,748	1,727,025
Change in fair value of derivative financial
instruments	(2,064)	10,495
Other revenue	255,663	214,174
Other income, net	90,195	25,970
Net impairment loss on financial assets	(10,678)	(38,409)
Selling expenses	(372,379)	(312,334)
Administrative expenses	(1,088,398)	(882,961)
Profit from operations	1,098,087	743,960
Finance costs	4(a)	(73,577)	(79,402)
Impairment provision	5	-	(105,549)
Share of post-tax loss of associates	(4,094)	(245)
Profit before taxation	4	1,020,416	558,764
Income tax expenses	6	(237,966)	(135,866)
Profit for the year	782,450	422,898
Attributable to:
Equity shareholders of the Company	785,502	420,077
Non-controlling interests	(3,052)	2,821
Profit for the year	782,450	422,898
Earnings per share	7
- Basic	RMB0.403	RMB0.217
- Diluted	RMB0.398	RMB0.215

Year ended 31 December 2018

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the year ended 31 December 2018

Year ended 31 December 2018

2017

RMB'000	RMB'000
(restated)
Profit for the year	782,450	422,898
Other comprehensive income for the year
Items that may be reclassified to profit or loss:
Currency translation differences	(38,689)	107,957
Total comprehensive income for the year	743,761	530,855
Attributable to:
Equity shareholders of the Company	746,813	528,034
Non-controlling interests	(3,052)	2,821
Total comprehensive income for the year	743,761	530,855

CONSOLIDATED BALANCE SHEET As at 31 December 2018

2017
Note	RMB'000	RMB'000
(restated)
Non-current assets
Property, plant and equipment	2,615,084	2,590,329
Construction in progress	148,938	129,917
Investment property	-	18,981
Lease prepayments	577,541	508,963
Intangible assets	204,976	230,136
Equity investments	129,739	-
Investment in associates	1,661	5,755
Prepayment for acquisition of equity interests	50,000	-
Goodwill	256,849	273,926
Deferred tax assets	107,333	104,070
4,092,121	3,862,077
Current assets
Derivative financial instruments	1,749	298
Inventories	3,864,951	3,053,574
Contract assets	787,547	1,051,728
Trade and bills receivables	9	3,011,733	2,980,045
Deposits, other receivables and prepayments	616,760	516,942
Amounts due from related parties	183,251	186,087
Restricted bank deposits	364,971	265,592
Cash and cash equivalents	2,930,271	2,259,890
11,761,233	10,314,156
Current liabilities
Derivative financial instruments	3,515	-
Bank loans	477,787	1,390,308
Loans from related parties	35,000	105,000
Other borrowings	8,305	8,163
Trade and bills payables	10	2,711,308	2,432,934
Contract liabilities	2,950,127	2,168,587
Other payables and accrued expenses	1,525,315	1,313,809
Amounts due to related parties	151,699	127,712
Warranty provision	199,902	84,099
Income tax payable	26,196	38,014
Employee benefit liabilities	480	440
8,089,634	7,669,066

As at 31 December 2018

As at 31 December 2018

2017

RMB'000	RMB'000
(restated)
Net current assets	3,671,599	2,645,090
Total assets less current liabilities	7,763,720	6,507,167
Non-current liabilities
Bank loans	686,320	-
Warranty provision	86,311	182,266
Deferred tax liabilities	169,235	165,837
Deferred income	248,646	254,048
Employee benefit liabilities	4,321	3,793
Other borrowings	23,093	31,444
1,217,926	637,388
NET ASSETS	6,545,794	5,869,779
CAPITAL AND RESERVES
Share capital	18,253	17,793
Reserves	6,349,454	5,706,846
Equity attributable to equity shareholders
of the Company	6,367,707	5,724,639
Non-controlling interests	178,087	145,140
TOTAL EQUITY	6,545,794	5,869,779

Note