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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 2018
The board of directors (the "Directors" and the "Board", respectively) of China Glass Holdings Limited (the "Company") hereby announces the audited consolidated annual results of the Company and its subsidiaries (collectively referred to as the "Group") for the year ended 31 December 2018 together with the comparative figures for the corresponding year in 2017.
1
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
For the year ended 31 December 2018 (Expressed in Renminbi ("RMB"))
2018 | 2017 | ||||
(Note) | |||||
Note | RMB'000 | RMB'000 | |||
Revenue | 5 | 2,617,725 | 2,556,418 | ||
Cost of sales | (2,207,630) | (2,234,842) | |||
Gross profit | 5 | 410,095 | 321,576 | ||
Other income | 6 | 230,849 | 172,902 | ||
Distribution costs | (78,088) | (74,474) | |||
Administrative expenses | (249,030) | (213,441) | |||
Profit from operations | 313,826 | 206,563 | |||
Finance costs | 7(a) | (160,805) | (106,216) | ||
Net gain on disposal of interest in an associate | 175 | - | |||
Share of losses of an associate | (62) | (12) | |||
Profit before taxation | 7 | 153,134 | 100,335 | ||
Income tax | 8 | (49,060) | (39,864) | ||
Profit for the year | 104,074 | 60,471 | |||
Attributable to: | |||||
Equity shareholders of the Company | 93,488 | 64,965 | |||
Non-controlling interests | 10,586 | (4,494) | |||
Profit for the year | 104,074 | 60,471 | |||
Earnings per share (RMB cent) | |||||
Basic | 9(a) | 5.45 | 3.59 | ||
Diluted | 9(b) | 5.45 | 3.59 | ||
Note: The Group has initially applied HKFRS 15 and HKFRS 9 at 1 January 2018. Under the transition methods chosen, comparative information is not restated (see Note 4).
2
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER
COMPREHENSIVE INCOME For the year ended 31 December 2018 (Expressed in RMB)
2018 | 2017 | |||
(Note) | ||||
RMB'000 | RMB'000 | |||
Profit for the year | 104,074 | 60,471 | ||
Other comprehensive income for the year | ||||
(before and after tax): | ||||
Item that will not be reclassified to profit or loss: | ||||
- Equity securities at FVOCI - net movement in | ||||
fair value reserve (non-recycling) | (209) | - | ||
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 | (1,725) | (17,499) | ||
Total comprehensive income for the year | 102,140 | 42,972 | ||
Attributable to: | ||||
Equity shareholders of the Company | 91,564 | 47,466 | ||
Non-controlling interests | 10,576 | (4,494) | ||
Total comprehensive income for the year | 102,140 | 42,972 | ||
Note : The Group has initially applied HKFRS 15 and HKFRS 9 at 1 January 2018. Under the transition methods chosen, comparative information is not restated (see Note 4).
3
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
At 31 December 2018
(Expressed in RMB)
2018 | 2017 | ||||
(Note) | |||||
Note | RMB'000 | RMB'000 | |||
Non-current assets | |||||
Property, plant and equipment | 4,295,827 | 4,159,131 | |||
Lease prepayments | 260,301 | 267,108 | |||
Intangible assets | 129,268 | - | |||
Goodwill | 107,936 | - | |||
Interest in an associate | - | 412 | |||
Interest in joint ventures | 6,397 | 846 | |||
Equity securities | 2,923 | - | |||
Available-for-sale equity securities | - | 1,991 | |||
Deferred tax assets | 252,222 | 224,023 | |||
5,054,874 | 4,653,511 | ||||
Current assets | |||||
Inventories | 492,293 | 387,151 | |||
Contract assets | 2,350 | - | |||
Trade and other receivables | 10 | 803,605 | 646,984 | ||
Prepaid income tax | 14,756 | 23,808 | |||
Cash and cash equivalents | 606,832 | 561,514 | |||
1,919,836 | 1,619,457 | ||||
Current liabilities | |||||
Trade and other payables | 11 | 1,654,636 | 1,460,185 | ||
Contract liabilities | 5,344 | - | |||
Bank and other loans | 2,065,400 | 1,687,456 | |||
Obligations under finance leases | 22,262 | 25,092 | |||
Income tax payable | 116,122 | 94,602 | |||
3,863,764 | 3,267,335 | ||||
Net current liabilities | (1,943,928) | (1,647,878) | |||
Total assets less current liabilities | 3,110,946 | 3,005,633 |
4
2018 | 2017 | |||
(Note) | ||||
Note | RMB'000 | RMB'000 | ||
Non-current liabilities | ||||
Bank and other loans | 728,983 | 664,802 | ||
Convertible bonds | 12 | 62,881 | 58,311 | |
Obligations under finance leases | 29,723 | 80,192 | ||
Deferred tax liabilities | 63,007 | 34,948 | ||
Other non-current liabilities | 4,421 | 2,930 | ||
889,015 | 841,183 | |||
NET ASSETS | 2,221,931 | 2,164,450 | ||
CAPITAL AND RESERVES | ||||
Share capital | 84,867 | 84,867 | ||
Reserves | 1,952,348 | 1,888,603 | ||
Total equity attributable to equity | ||||
shareholders of the Company | 2,037,215 | 1,973,470 | ||
Non-controlling interests | 184,716 | 190,980 | ||
TOTAL EQUITY | 2,221,931 | 2,164,450 | ||
Note : The Group has initially applied HKFRS 15 and HKFRS 9 at 1 January 2018. Under the transition methods chosen, comparative information is not restated (see Note 4).
5
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China Glass Holdings Limited published this content on 28 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 March 2019 01:09:06 UTC