Renhe Commercial : ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2018 (ENG)(PDF format)

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Renhe Commercial Holdings Company Limited

人 和 商 業 控 股 有 限 公 司 *

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1387)

ANNUAL RESULTS ANNOUNCEMENT

FOR THE YEAR ENDED 31 DECEMBER 2018

The board of directors (the "Board") of Renhe Commercial Holdings Company Limited (the "Company") announces the audited consolidated results of the Company and its subsidiaries (the "Group") for the year ended 31 December 2018 with comparative figures for the previous financial year as follows:

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

For the year ended 31 December 2018

		2018		2017
	Note	RMB'000		RMB'000
				(Note)
Revenue	2	1,128,654		988,112
Other (expenses)/income	3	(59,435)		93,495
Net valuation gain on investment properties	10	13,500		-
Administrative expenses		(703,134)		(536,524)
Other operating expenses		(691,339)		(604,265)
Loss from operations		(311,754)		(59,182)
Finance income		74,319		28,490
Finance expenses		(17,490)		(2,394)
Net finance income	6	56,829		26,096

Note: The Group has initially applied IFRS 15 and IFRS 9 at 1 January 2018. Under the transition method chosen, comparative information is not restated.

* For identification purpose only

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CONSOLIDATED STATEMENT OF PROFIT OR LOSS (Continued)

For the year ended 31 December 2018

		2018		2017
	Note	RMB'000		RMB'000
				(Note)
Loss before taxation	5	(254,925)		(33,086)
Income tax	7	(93,676)		(93,964)
Loss for the year		(348,601)		(127,050)
Attributable to:
Equity shareholders of the Company	9	(360,901)		(127,050)
Non-controlling interests		12,300		-
Loss for the year		(348,601)		(127,050)
Basic and diluted loss per share (RMB cents)	9	(0.72)		(0.29)

Note: The Group has initially applied IFRS 15 and IFRS 9 at 1 January 2018. Under the transition method chosen, comparative information is not restated.

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CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the year ended 31 December 2018

20182017

RMB'000 RMB'000 (Note)

Loss for the year

(348,601)

(127,050)

Other comprehensive income for the year

(after tax and reclassification adjustments):

Item that may be reclassified subsequently to profit

or loss:

Exchange differences on translation of financial

statements of foreign operations	135,838		98,742
Total comprehensive income for the year	(212,763)		(28,308)
Attributable to:
Equity shareholders of the Company	(225,063)		(28,308)
Non-controlling interests	12,300		-
Total comprehensive income for the year	(212,763)		(28,308)

Note: The Group has initially applied IFRS 15 and IFRS 9 at 1 January 2018. Under the transition method chosen, comparative information is not restated.

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CONSOLIDATED STATEMENT OF FINANCIAL POSITION

At 31 December 2018

		31 December		31 December
		2018		2017
	Note	RMB'000		RMB'000
				(Note)
Non-current assets
Property and equipment		1,952,043		681,420
Investment properties	10	446,500		-
Intangible assets	11	5,385,625		5,709,390
Goodwill	12	1,094,526		386,380
Other assets		29,035		-
Deferred tax assets		676		-
Total non-current assets		8,908,405		6,777,190
Current assets
Inventories		35,604		44,432
Trade and other receivables	13	1,255,940		764,656
Cash at bank and on hand		1,354,070		1,222,118
Other assets		35,286		-
Total current assets		2,680,900		2,031,206
Current liabilities
Interest-bearing borrowings		198,500		-
Trade and other payables	14	666,838		401,502
Taxation		122,543		41,585
Total current liabilities		987,881		443,087
Net current assets		1,693,019		1,588,119
Total assets less current liabilities		10,601,424		8,365,309

Note: The Group has initially applied IFRS 15 and IFRS 9 at 1 January 2018. Under the transition method chosen, comparative information is not restated.

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CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Continued)

At 31 December 2018

		31 December		31 December
		2018		2017
	Note	RMB'000		RMB'000
				(Note)
Non-current liabilities
Interest-bearing borrowings		373,180		-
Deferred tax liabilities		1,711,492		1,424,400
Receipt-in-advance		-		4,031
Deferred income		3,205		-
Total non-current liabilities		2,087,877		1,428,431
Net assets		8,513,547		6,936,878
Capital and reserves
Share capital	15	478,794		366,604
Reserves		7,922,923		6,570,274
Total equity attributable to equity shareholders
of the Company		8,401,717		6,936,878
Non-controlling interests		111,830		-
Total equity		8,513,547		6,936,878

Note: The Group has initially applied IFRS 15 and IFRS 9 at 1 January 2018. Under the transition method chosen, comparative information is not restated.

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