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    586   KYG2116J1085

CHINA CONCH VENTURE HOLDINGS LIMITED

(586)
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China Conch Venture : Announcement Of Interim Results For The Six Months Ended 30 June 2021

08/30/2021 | 12:12pm EDT

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.

China Conch Venture Holdings Limited

中 國 海 螺 創 業 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 586)

ANNOUNCEMENT OF

INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2021

HIGHLIGHTS

  • Revenue of the Group for the six months ended 30 June 2021 amounted to approximately RMB3,879.41 million, representing an increase of 37.72% as compared with the corresponding period of the previous year.
  • Net profit attributable to equity shareholders of the Group for the six months ended 30 June 2021 amounted to approximately RMB3,476,78 million, representing an increase of 0.24% as compared with the corresponding period of the previous year; and net profit of our principal activities attributable to equity shareholders of the Group (excluding share of profits of associates attributable to equity shareholders) amounted to approximately RMB733.40 million, representing an increase of 31.38% as compared with the corresponding period of the previous year.
  • Basic earnings per share for the six months ended 30 June 2021 amounted to RMB1.93.
  • The Board has resolved not to declare any interim dividend for the six months ended 30 June 2021.

The board (the "Board") of directors (the "Directors") of China Conch Venture Holdings Limited (the "Company") hereby presents the unaudited results of operation and financial position for the six months ended 30 June 2021 (the "Reporting Period") of the Company and its subsidiaries (the "Group").

The unaudited consolidated financial statements of the Group for the six months ended 30 June 2021 have been approved by the Board and reviewed by the audit committee of the Board (the "Audit Committee").

- 1 -

CONSOLIDATED STATEMENT OF PROFIT OR LOSS for the six months ended 30 June 2021 - unaudited (Expressed in Renminbi Yuan)

Six months ended 30 June

2021

2020

Note

RMB'000

RMB'000

Revenue

3

3,879,414

2,816,978

Cost of sales

(2,611,199)

(1,884,415)

Gross profit

1,268,215

932,563

Other income

4

103,423

122,248

Distribution costs

(71,356)

(49,681)

Administrative expenses

(219,838)

(148,943)

Profit from operations

1,080,444

856,187

Finance costs

5(a)

(152,616)

(108,421)

Share of profits of associates

8

2,746,808

2,910,247

Profit before taxation

5

3,674,636

3,658,013

Income tax

6

(131,427)

(119,470)

Profit for the period

3,543,209

3,538,543

Attributable to:

- Equity shareholders of the Company

3,476,780

3,468,485

- Non-controlling interests

66,429

70,058

Profit for the period

3,543,209

3,538,543

Earnings per share

7

- Basic (RMB)

1.93

1.92

- Diluted (RMB)

1.85

1.85

- 2 -

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

for the six months ended 30 June 2021 - unaudited (Expressed in Renminbi Yuan)

Six months ended 30 June

2021 2020

RMB'000 RMB'000

Profit for the period

3,543,209

3,538,543

Other comprehensive income for the period

  (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

(10,016)

20,002

Items that may be reclassified subsequently to

profit or loss:

  Share of other comprehensive income of

    associates, net of tax

(18,697)

(3,314)

  Exchange differences on translation of financial

    statements of overseas subsidiaries

25,834

(26,597)

Other comprehensive income for the period

(2,879)

(9,909)

Total comprehensive income for the period

3,540,330

3,528,634

Attributable to:

  Equity shareholders of the Company

3,473,901

3,458,576

Non-controlling interests

66,429

70,058

Total comprehensive income for the period

3,540,330

3,528,634

- 3 -

CONSOLIDATED STATEMENT OF FINANCIAL POSITION at 30 June 2021 - unaudited

(Expressed in Renminbi Yuan)

At

At

30 June

31 December

2021

2020

Note

RMB'000

RMB'000

Non-current assets

4,851,715

Property, plant and equipment

3,714,696

Right-of-use assets

710,612

590,650

Intangible assets

7,792,968

6,366,195

Goodwill

5,815

-

Interests in associates

8

32,396,023

31,085,116

Non-current portion of service concession assets

9

5,497,360

4,945,952

Non-current portion of trade and other receivables

10

1,337,491

1,073,404

Financial assets measured at fair value through

82,500

  profit and loss ("FVPL")

82,500

Deferred tax assets

66,842

63,093

52,741,326

47,921,606

Current assets

Financial assets measured at fair value through

14,571

  profit and loss ("FVPL")

13,239

Inventories

359,803

269,957

Service concession assets

9

194,352

137,088

Trade and other receivables

10

3,387,960

1,908,676

Restricted bank deposits

73,935

44,767

Bank deposits with original maturity

971,680

over three months

681,700

Cash and cash equivalents

3,377,601

3,350,539

8,379,902

6,405,966

Current liabilities

1,113,100

Bank loans

1,282,264

Trade and other payables

11

4,596,480

4,201,641

Contract liabilities

73,622

62,153

Lease liabilities

2,061

2,652

Dividends payable to equity shareholders

1,054,182

of the Company

13

-

Income tax payables

203,701

139,028

7,043,146

5,687,738

Net current assets

1,336,756

718,228

Total assets less current liabilities

54,078,082

48,639,834

- 4 -

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Continued)

at 30 June 2021 - unaudited (Expressed in Renminbi Yuan)

At

At

30 June

31 December

2021

2020

Note

RMB'000

RMB'000

Non-current liabilities

Bank loans

8,046,540

5,124,458

Convertible bonds

12

3,487,367

3,470,110

Lease liabilities

3,936

397

Deferred tax liabilities

10,903

67,690

11,548,746

8,662,655

Net assets

42,529,336

39,977,179

Capital and reserves

Share capital

14,530

14,347

Reserves

41,201,809

38,550,638

Equity attributable to equity shareholders

  of the Company

41,216,339

38,564,985

Non-controlling interests

1,312,997

1,412,194

Total equity

42,529,336

39,977,179

- 5 -

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

China Conch Venture Holdings Ltd. published this content on 31 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2021 16:11:10 UTC.


© Publicnow 2021
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Net income 2021 8 463 M 1 325 M 1 325 M
Net Debt 2021 8 886 M 1 391 M 1 391 M
P/E ratio 2021 6,91x
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Last Close Price 31,41 CNY
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