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)

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