China Glass : 2017-03-28Announcement – Annual Results Announcement for the year ended 31 December 2...

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CHINA GLASS HOLDINGS LIMITED

中 國 玻 璃 控 股 有 限 公 司 *

(Incorporated in Bermuda with limited liability)

(Stock Code: 3300)

ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2016

The board of directors (the "Board") of China Glass Holdings Limited (the "Company") hereby announces the audited consolidated results of the Company and its subsidiaries (collectively referred to as the "Group") for the year ended 31 December 2016 together with the comparative figures for the corresponding year in 2015.

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

For the year ended 31 December 2016

(Expressed in Renminbi ("RMB"))

Note	2016 RMB'000	2015 RMB'000
Revenue	5	2,139,650	1,968,857
Cost of sales	(1,812,394)	(1,890,567)
Gross profit	5	327,256	78,290
Other income	6	163,389	29,063
Distribution costs	(75,599)	(73,218)
Administrative expenses	(214,123)	(397,117)
Other expenses	7(c)	(39,260)	(62,563)
Profit/(loss) from operations	161,663	(425,545)
Share of losses of an associate	(69)	(43)
Finance costs	7(a)	(134,476)	(130,386)
Profit/(loss) before taxation	7	27,118	(555,974)
Income tax	8	(6,384)	75,876
Profit/(loss) for the year	20,734	(480,098)
Attributable to: Equity shareholders of the Company	21,055	(426,389)
Non-controlling interests	(321)	(53,709)
Profit/(loss) for the year	20,734	(480,098)

Earnings/(loss) per share (RMB cent)

Basic 9(a) 1.16 (23.56)

Diluted 9(b) 1.05 (23.56)

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the year ended 31 December 2016

(Expressed in RMB)

2016 2015

RMB'000 RMB'000

Profit/(loss) for the year 20,734 (480,098)

Other comprehensive income for the year (before and after tax):

Items that may be reclassified subsequently to profit or loss:

- Exchange differences on translation of financial

statements of the Company and certain subsidiaries

into presentation currency 18,919 15,781

Total comprehensive income for the year 39,653 (464,317)

Attributable to:

Equity shareholders of the Company	39,974	(410,608)
Non-controlling interests	(321)	(53,709)

Total comprehensive income for the year 39,653 (464,317)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

At 31 December 2016

(Expressed in RMB)

Note	2016 RMB'000	2015 RMB'000
Non-current assets Property, plant and equipment	3,773,797	3,407,633
Lease prepayments Intangible assets Interest in an associate	267,570 - 424	248,767 - 493
Available-for-sale investments	1,991	1,495
Deferred tax assets	218,510	200,348
4,262,292	3,858,736
Current assets Inventories	429,062	385,701
Trade and other receivables	10	563,249	607,022
Assets held-for-sale	22,829	-
Prepaid income tax	12,561	18,926
Cash and cash equivalents	491,644	775,217
1,519,345	1,786,866
Current liabilities Trade and other payables	11	1,808,734	1,647,105
Bank and other loans	1,485,050	1,132,943
Obligations under finance leases	19,874	26,567
Income tax payable	67,252	65,006
3,380,910	2,871,621
Net current liabilities	(1,861,565)	(1,084,755)
Total assets less current liabilities	2,400,727	2,773,981