CHINA GLASS HOLDINGS LIMITED 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 GLASS HOLDINGS LIMITED中 國 玻 璃 控 股 有 限 公 司 *
(Incorporated in Bermuda with limited liability)
(Stock Code: 3300)
INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2017The board of directors (the "Board") of China Glass Holdings Limited (the "Company") hereby announce the unaudited consolidated results of the Company and its subsidiaries (collectively referred to as the "Group") for the six months ended 30 June 2017 together with the comparative figures for the corresponding period in 2016. The audit committee of the Company has reviewed the Group's unaudited consolidated results for the six months ended 30 June 2017.
* For identification purpose only
CONSOLIDATED STATEMENT OF PROFIT OR LOSSFor the six months ended 30 June 2017 - unaudited (Expressed in Renminbi ("RMB"))
Six months ended 30 June
Note | 2017 RMB'000 | 2016 RMB'000 | |
Revenue | 3 | 1,101,656 | 917,648 |
Cost of sales | (960,717) | (821,373) | |
Gross profit | 3 | 140,939 | 96,275 |
Other income | 4 | 72,736 | 75,161 |
Distribution costs | (38,823) | (37,419) | |
Administrative expenses | (93,888) | (130,990) | |
Other expenses | - | (14,659) | |
Profit/(loss) from operations | 80,964 | (11,632) | |
Share of losses of an associate | (7) | (28) | |
Finance costs | 5(a) | (52,009) | (85,628) |
Profit/(loss) before taxation | 5 | 28,948 | (97,288) |
Income tax | 6 | (8,917) | 3,344 |
Profit/(loss) for the period | 20,031 | (93,944) | |
Attributable to: | |||
Equity shareholders of the Company | 22,885 | (94,170) | |
Non-controlling interests | (2,854) | 226 | |
Profit/(loss) for the period | 20,031 | (93,944) | |
Earnings/(loss) per share (RMB cent) | 7 | ||
Basic | 1.26 | (5.20) | |
Diluted | 1.08 | (5.20) |
For the six months ended 30 June 2017 - unaudited (Expressed in RMB)
Six months ended 30 June 2017 2016
RMB'000 RMB'000Profit/(loss) for the period 20,031 (93,944)
Other comprehensive income for the period (before and after tax):
Item 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 (11,126) 3,281
Total comprehensive income for the period 8,905 (90,663)
Attributable to:
Equity shareholders of the Company | 11,759 | (90,889) |
Non-controlling interests | (2,854) | 226 |
Total comprehensive income for the period 8,905 (90,663)
CONSOLIDATED STATEMENT OF FINANCIAL POSITIONAt 30 June 2017 - unaudited (Expressed in RMB)
At 30 June
2017
At 31 December
2016
Non-current assets
Note RMB'000 RMB'000
Property, plant and equipment 3,851,358 3,773,797
Lease prepayments 271,947 267,570 Intangible assets - -
Interest in an associate 417 424
Interest in a joint venture 878 -
Available-for-sale investments 1,991 1,991
Deferred tax assets 233,254 218,510
4,359,845 4,262,292
Current assets Inventories | 542,165 | 429,062 | ||
Trade and other receivables | 8 | 561,022 | 563,249 | |
Assets held-for-sale | - | 22,829 | ||
Prepaid income tax | 21,051 | 12,561 | ||
Cash and cash equivalents | 561,166 | 491,644 | ||
1,685,404 | 1,519,345 | |||
Current liabilities | ||||
Trade and other payables | 9 | 1,657,263 | 1,808,734 | |
Bank and other loans | 1,667,196 | 1,485,050 | ||
Obligations under finance leases | 22,392 | 19,874 | ||
Income tax payable | 82,407 | 67,252 | ||
3,429,258 | 3,380,910 | |||
Net current liabilities | (1,743,854) | (1,861,565) | ||
Total assets less current liabilities 2,615,991 2,400,727
Non-current liabilities
Bank and other loans | 256,590 | 28,311 | |
Convertible bonds | 10 | 55,548 | 62,318 |
Obligations under finance leases | 88,577 | 96,268 | |
Deferred tax liabilities | 33,956 | 33,718 | |
Other non-current liabilities | 3,852 | 3,798 | |
438,523 | 224,413 |
NET ASSETS 2,177,468 2,176,314
CAPITAL AND RESERVES 11
Share capital | 84,867 | 84,867 |
Reserves | 1,899,981 | 1,886,853 |
Total equity attributable to equity shareholders of the Company | 1,984,848 | 1,971,720 |
Non-controlling interests | 192,620 | 204,594 |
TOTAL EQUITY | 2,177,468 | 2,176,314 |
China Glass Holdings Limited published this content on 30 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 August 2017 00:37:05 UTC.
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