China Conch Venture : ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2021 HIGHLIGHTS

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China Conch Venture Holdings Limited ʕ਷ऎᑮ௴ุછٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 586)

ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2021

HIGHLIGHTS

• • The Group expects to spin-off and separately list the shares of China Conch Environment Protection Holdings Limited ("Conch Environment") (which, together with its subsidiaries, are principally engaged in the solid waste solutions business) on the Main Board of the Stock Exchange by way of introduction, through a distribution in specie to the shareholders of the Company in March 2022. The solid waste solutions business has been classified as discontinued operations of the Group.

• • Revenue of the Group for 2021 amounted to approximately RMB8,350.49 million (2020: RMB6,604.57 million), representing an increase of 26.43% as compared to 2020. Revenue of the Group from continuing operations for 2021 amounted to approximately RMB6,680.74 million (2020: RMB5,467.18 million), representing an increase of 22.20% as compared to 2020.

• • Net profit attributable to equity shareholders of the Group for 2021 amounted to approximately RMB7,458.13 million (2020: RMB7,617.63 million), representing a decrease of 2.09% as compared to 2020. Net profit attributable to equity shareholders of the Group from continuing operations for 2021 amounted to approximately RMB6,905.39 million (2020: RMB7,144.96 million), representing a decrease of 3.35% as compared to 2020.

• • Net profit (excluding share of profits of associates) of our principal activities attributable to equity shareholders of the Group for 2021 amounted to approximately RMB1,289.99 million (2020: RMB1,230.19 million), representing an increase of 4.86% as compared to 2020. Net profit (excluding share of profits of associates) of our principal activities attributable to equity shareholders of the Group from continuing operations for 2021 amounted to approximately RMB747.07 million (2020: RMB768.60 million), representing a decrease of 2.80% as compared to 2020.

• • Basic earnings per share for 2021 amounted to RMB4.10 (2020: RMB4.22 per share). Basic earnings per share from continuing operations for 2021 amounted to RMB3.80 (2020: RMB3.96 per share).

• • The Board proposed the distribution of a final cash dividend of HK$0.70 per share for 2021 (2020: HK$0.70 per share).

The board (the "Board") of directors (the "Directors") of China Conch Venture Holdings Limited (the "Company") is pleased to announce the audited consolidated results and financial positions for the year ended 31 December 2021 (the "Reporting Period") of the Company and its subsidiaries (the "Group").

CONSOLIDATED STATEMENT OF PROFIT OR LOSS for the year ended 31 December 2021

2021	2020
Note	RMB'000	RMB'000
(Restated)
Continuing operations
Revenue	3	6,680,738	5,467,178
Cost of sales	(5,033,282)	(4,055,231)
Gross profit	1,647,456	1,411,947
Other net income	4	187,865	197,688
Distribution costs	(20,228)	(18,434)
Administrative expenses	(403,925)	(270,921)
Profit from operations	1,411,168	1,320,280
Finance costs	5(a)	(310,965)	(223,748)
Share of profits of associates	6,158,328	6,376,356
Profit before taxation	5	7,258,531	7,472,888
Income tax	6(a)	(305,105)	(283,164)
Profit for the year from continuing operations	6,953,426	7,189,724
Discontinued operations
Profit for the year from discontinued operations	14	623,730	562,890
Profit for the year	7,577,156	7,752,614

CONSOLIDATED STATEMENT OF PROFIT OR LOSS (continued) for the year ended 31 December 2021

2021	2020
Note	RMB'000	RMB'000
(Restated)
Attributable to equity shareholders
of the Company:
from continuing operations	6,905,394	7,144,957
from discontinued operations	552,735	472,670
7,458,129	7,617,627
Attributable to non-controlling interests
of the Company:
from continuing operations	48,032	44,767
from discontinued operations	70,995	90,220
119,027	134,987
Profit for the year	7,577,156	7,752,614
Basic earnings per share	7(a)
from continuing operations (RMB)	3.80	3.96
from discontinued operations (RMB)	0.30	0.26
4.10	4.22
Diluted earnings per share	7(b)
from continuing operations (RMB)	3.66	3.81
from discontinued operations (RMB)	0.29	0.25
3.95	4.06

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME for the year ended 31 December 2021 (Expressed in Renminbi Yuan)

2021

RMB'000

2020

RMB'000 (Restated)

Profit for the yearOther comprehensive income for the year

(after tax and reclassification adjustments)

Items that will not be reclassified to profit or loss:

Share of other comprehensive income of associates, net of tax

Items that may be reclassified subsequently to profit or loss:

Share of other comprehensive income of associates, net of tax

Exchange differences on translation of financial statements of overseas subsidiaries

7,577,156

7,752,614

7,061

9,569

(13,016) (29,621)

88,041 169,651

82,086 149,599

• Total comprehensive income for the year 7,659,242 7,902,213

  Attributable to equity shareholders of the Company:

• from continuing operations 6,987,480 7,294,556

from discontinued operations

Attributable to non-controlling interests of the Company: from continuing operations from discontinued operations

552,735

472,670

7,540,215 7,767,226

48,032 44,767 70,995 90,220

Total comprehensive income for the year

119,027 7,659,242

134,987 7,902,213