Tianjin Binhai Teda Log : ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2018(Announcement)

天津濱海泰達物流集團股份有限公司

Tianjin Binhai Teda Logistics (Group) Corporation Limited*

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock code: 8348)

ANNUAL RESULTS ANNOUNCEMENT

FOR THE YEAR ENDED 31 DECEMBER 2018

CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE")

GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration.

Given that the companies listed on GEM are generally small and mid-sized companies, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board and no assurance is given that there will be a liquid market in the securities traded on GEM.

Hong Kong Exchanges and Clearing Limited and the Stock Exchange 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.

This announcement, for which the directors (the "Directors") of Tianjin Binhai Teda Logistics (Group) Corporation Limited (the "Company") collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on GEM of the Stock Exchange (the "GEM Listing Rules") for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no any other matters the omission of which would make any statement herein or this announcement misleading.

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FINANCIAL HIGHLIGHTS

•Revenue increased by approximately 9% to RMB2,613,904,000

•The gross margin rate was approximately 5.12%

•Profit attributable to shareholders decreased by approximately 89% to RMB4,759,000

•Earnings per share was RMB0.01

List of the full names and abbreviations of the companies as referred to in this announcement

Tianjin TEDA Investment Holding Co., Ltd.	TEDA Holding
Chia Tai Pharmaceutical Investment (Beijing)	Chia Tai Pharmaceutical
Co., Ltd.
Chia Tai Land Company Limited	Chia Tai Land
TEDA General Bonded Warehouse Co., Ltd.	Bonded Warehouse
Tianjin Yuan Da Xian Dai Logistics Co., Ltd.	Yuan Da Logistics
He Guang Trade and Business Co., Ltd.	He Guang Trade and Business
Tedahang Cold Chain Logistics Co., Ltd.	Tedahang
Tianjin Fengtian Logistics Co., Ltd.	Fengtian Logistics
Tianjin Teda International Freight Forwarding	International Freight Forwarding
Co., Ltd.
Tianjin Alps Teda Logistics Co., Ltd.	Tianjin Alps
Dalian Alps Teda Logistics Co., Ltd.	Dalian Alps
Tianjin Port Gangwan International Automobile	Gangwan Automobile
Logistics Co., Ltd.
Tianjin Tianxin Automobile Inspection	Tianxin
Services Co., Ltd.
Tianjin Ferroalloy Exchange Co., Ltd.	Ferroalloy

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ANNUAL RESULTS

The board of directors (the "Board") of the Company is pleased to announce the audited consolidated results of the Company and its subsidiaries (collectively referred to as the "Group") for the year ended 31 December 2018, together with the comparative figures for the corresponding period in 2017 as follows:

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the year ended 31 December 2018

			2018	2017
		Notes	RMB'000	RMB'000
				(Restated)
Revenue		4	2,613,904	2,397,084
Cost of sales			(2,480,110)	(2,292,028)
Gross profit			133,794	105,056
Administrative expenses			(49,039)	(47,566)
Other gains - net		5	14,721	8,309
Gain on change in fair value of investment properties			4,100	16,400
Impairment loss of trade and other receivable			(41,028)	-
Operating profit			62,548	82,199
Finance costs		6	(32,134)	(17,631)
Share of profit of investments accounted for
	using the equity method		17,324	17,934
Profit before income tax		10	47,738	82,502
Income tax expense		7	(20,130)	(19,751)
Profit for the year			27,608	62,751
Other Comprehensive Income
	Item that will not be reclassified subsequently to
	profit or loss:
Equity instruments at fair value through other
	comprehensive income		2,190	-
Total comprehensive income for the year			29,798	62,751
Profit and total comprehensive income
	attributable to:
	Owners of the Company		4,759	41,532
	Non-controlling interests		25,039	21,219
			29,798	62,751
Earnings per share (RMB cents)
	- Basic and diluted	9	1	12
Dividends		8	-	-

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CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 31 December 2018

			As at 31 December		As at 1 January
			2018	2017	2017
		Notes	RMB'000	RMB'000	RMB'000
				(Restated)	(Restated)
ASSETS
Non-current assets
	Land use rights		18,917	19,448	19,979
	Property, plant and equipment		161,142	169,845	183,492
	Investment properties		306,700	302,600	286,200
	Investments accounted for using the equity
	method		239,151	249,228	253,794
	Equity instruments at fair value through other
	comprehensive income		18,500	-	-
	Available-for-sale financial assets		-	16,310	16,310
			744,410	757,431	759,775
Current assets
	Inventories		1,533	25,138	54,863
	Trade and other receivables	11	1,296,654	1,296,687	1,375,227
	Pledged bank deposits		172,591	165,337	144,423
	Cash and cash equivalents		387,273	552,990	327,598
			1,858,051	2,040,152	1,902,111
Total assets			2,602,461	2,797,583	2,661,886
EQUITY AND LIABILITIES

Equity attributable to owners of the company

	Share capital	12	354,312	354,312	354,312
	Other reserves	12	107,916	100,662	97,564
	Retained earnings	12	494,849	503,846	475,996
			957,077	958,820	927,872
Non-controlling interests		12	108,859	103,280	94,493
Total equity			1,065,936	1,062,100	1,022,365

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CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Continued)

As at 31 December 2018

			As at 31 December		As at 1 January
			2018	2017	2017
		Notes	RMB'000	RMB'000	RMB'000
				(Restated)	(Restated)
LIABILITIES
Non-current liabilities
	Deferred income		5,177	5,531	5,887
	Obligations under finance lease		7,304	52,336	56,875
	Deferred tax liabilities		57,923	56,899	52,798
			70,404	114,766	115,560
Current liabilities
	Trade and other payables	13	708,353	1,244,900	1,293,547
	Contract liabilities		202,042	-	-
	Current income tax liabilities		6,072	8,886	6,247
	Borrowings		504,520	319,995	193,834
	Obligations under finance lease		45,134	46,936	30,333
			1,466,121	1,620,717	1,523,961
Total liabilities			1,536,525	1,735,483	1,639,521
Total equity and liabilities			2,602,461	2,797,583	2,661,886
Net current assets			391,930	419,435	378,150
Total assets less current liabilities			1,136,340	1,176,866	1,137,925

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