China Ting : ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2018 (in PDF)

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CHINA TING GROUP HOLDINGS LIMITED 華鼎集團控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 3398)

ANNUAL RESULTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FINANCIAL HIGHLIGHTS

Year ended 31 December 2018 2017

HK$ million HK$ millionChange

Revenue
OEM Business	1,784.0	1,855.3	(3.8)
Fashion Retail Business	479.6	480.1	(0.1)
Property Investment Business	11.2	-	N/A
2,274.8	2,335.4	(2.6)
Operating profit	49.0	158.1	(69.0)
Profit attributable to the Company's equity
holders	21.0	149.7	(86.0)
Dividend per share (HK cent)
- Interim and special	-	1.97
Dividend payout ratio	N/A	28%
Equity attributable to the Company's
equity holders	2,611.3	2,525.9
Equity per share (HK$)	1.24	1.20

The board (the "Board") of directors (the "Directors") of China Ting Group Holdings Limited (the "Company") wishes to announce the consolidated results of the Company and its subsidiaries (collectively, the "Group") for the year ended 31 December 2018, together with the comparative figures for the year ended 31 December 2017, as follows:

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the year ended 31 December 2018

2018	2017
Note	HK$'000	HK$'000
Revenue	3	2,274,818	2,335,429
Cost of sales	(1,711,636)	(1,670,143)
Gross profit	563,182	665,286
Other income	4	21,476	28,718
Other gains, net	5	52,115	12,849
Net impairment loss provided for financial assets	(19,025)	-
Selling, marketing and distribution costs	(258,431)	(277,417)
Administrative expenses	(310,324)	(312,478)
Reversal of impairment on loans to an associate	-	41,135
Operating profit	48,993	158,093
Finance income	7	7,342	11,346
Finance costs	7	(10,603)	(8,668)
Share of profits/(losses) of associates	146	(632)
Share of losses of joint ventures	(4,603)	(2,791)
Profit before income tax	41,275	157,348
Income tax expense	8	(14,067)	(16,901)
Profit for the year	27,208	140,447

2018	2017
Note	HK$'000	HK$'000
Other comprehensive income
Items that may be reclassified to profit or loss
Currency translation differences	(144,098)	172,314
Fair value gains on transfers of owner-occupied
properties to investment properties, net of tax	207,638	16,952
Release of exchange reserve to profit or loss upon
deregistration of an associate	-	(20,278)
Other comprehensive income, net of tax	63,540	168,988
Total comprehensive income	90,748	309,435
Profit/(loss) attributable to:
Equity holders of the Company	21,045	149,689
Non-controlling interests	6,163	(9,242)
27,208	140,447
Total comprehensive income/(loss) attributable to:
Equity holders of the Company	85,349	316,371
Non-controlling interests	5,399	(6,936)
90,748	309,435
Earnings per share for profit attributable to the equity
holders of the Company during the year (expressed
in HK cents per share)
- basic	9	1.00	7.13
- diluted	9	1.00	7.13

CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2018

2018	2017
Note	HK$'000	HK$'000
ASSETS
Non-current assets
Property, plant and equipment	469,646	568,050
Investment properties	363,711	88,721
Land use rights	76,384	70,334
Interests in associates	1,846	1,806
Interests in joint ventures	14,690	3,307
Intangible assets	10,623	22,301
Promissory note	11	-	34,978
Prepayments	11	15,526	-
Deferred income tax assets	78,463	80,862
1,030,889	870,359
Current assets
Inventories	995,661	944,406
Trade and other receivables	11	746,107	727,645
Tax recoverable	9,939	15,403
Available-for-sale financial assets	-	286,002
Financial assets at fair value through profit or loss
("FVPL")	12	304,269	19,967
Promissory note	11	38,124	1,936
Entrusted loans	11	166,022	174,443
Pledged bank deposits	50,957	28,939
Fixed deposits	20,553	-
Cash and bank balances	448,547	469,447
2,780,179	2,668,188
Assets held for sale	13	8,674	-
2,788,853	2,668,188
Total assets	3,819,742	3,538,547

2018	2017
Note	HK$'000	HK$'000
EQUITY
Equity attributable to equity holders of the Company
Share capital	209,982	209,982
Reserves	2,401,303	2,315,954
2,611,285	2,525,936
Non-controlling interests	28,724	23,325
Total equity	2,640,009	2,549,261
LIABILITIES
Non-current liabilities
Deferred income tax liabilities	83,136	21,752
Current liabilities
Trade and other payables	14	694,161	707,889
Contract liabilities	3	29,534	-
Bank borrowings	367,057	247,271
Current income tax liabilities	5,845	12,374
1,096,597	967,534
Total liabilities	1,179,733	989,286
Total equity and liabilities	3,819,742	3,538,547