China Lesso : FINAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 20...

b5ea2a4e-6348-459e-b87f-39df57e0d546.pdf

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 LESSO GROUP HOLDINGS LIMITED

中 國 聯 塑 集 團 控 股 有 限 公 司*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2128)

FINAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2015

The Board is pleased to announce the audited consolidated financial results of the Group for the year ended 31 December 2015.

HIGHLIGHTS

Compared to the last year financial results:

•

Revenue increased by 3.0% to RMB15,264 million

•

Gross profit increased by 3.6% to RMB3,938 million

•

Profit for the year increased by 5.1% to RMB1,618 million

•

Basic earnings per share was RMB0.52, increased by 4.0%

•

The payment of a final dividend of HK13 cents per share is recommended for the year

ended 31 December 2015

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

Year ended 31 December 2015

Note	2015 RMB'000	2014 RMB'000
REVENUE	3	15,264,401	14,822,772
Cost of sales	(11,326,830)	(11,022,038)
Gross profit	3,937,571	3,800,734
Other revenue, income and gains	3	119,927	116,116
Selling and distribution expenses	(697,214)	(769,676)
Administrative expenses	(579,132)	(581,418)
Other expenses	(630,259)	(486,290)
Finance costs	4	(87,323)	(233,071)
Share of profit of a joint venture	1,101	398
PROFIT BEFORE TAX	5	2,064,671	1,846,793
Income tax expense	6	(446,221)	(306,435)
PROFIT FOR THE YEAR	1,618,450	1,540,358
OTHER COMPREHENSIVE INCOME/

(EXPENSE)

Items that may be reclassified subsequently to profit or loss:

Exchange differences on translation of foreign

operations (50,973) (1,170)

Changes in fair value of available-for-sale

investments 1,777 222

OTHER COMPREHENSIVE EXPENSE FOR THE YEAR (49,196) (948)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR 1,569,254 1,539,410

Note	2015 RMB'000	2014 RMB'000
Profit attributable to: Owners of the Company	1,621,117	1,554,024
Non-controlling interests	(2,667)	(13,666)
1,618,450	1,540,358
Total comprehensive income attributable to: Owners of the Company	1,570,682	1,551,351
Non-controlling interests	(1,428)	(11,941)
1,569,254	1,539,410
EARNINGS PER SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY	8
Basic	RMB0.52	RMB0.50
Diluted	RMB0.52	RMB0.50

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 31 December 2015

Note	2015 RMB'000	2014 RMB'000
NON-CURRENT ASSETS Property, plant and equipment	6,011,812	5,263,614
Prepaid land lease payments	1,157,926	1,087,126
Investment properties	318,431	-
Other intangible assets Deposits paid for the purchase of land, property, plant and equipment	35,790 745,175	35,405 729,051
Interest in a joint venture	7,175	6,074
Held-to-maturity investments	9	62,435	30,383
Available-for-sale investments	10	48,363	39,466
Deferred tax assets	29,724	13,577
Total non-current assets	8,416,831	7,204,696
CURRENT ASSETS Inventories	11	2,206,543	2,210,038
Trade and bills receivables	12	1,397,797	1,303,576
Receivables from factoring services	13	83,000	-
Prepayments, deposits and other receivables	651,408	571,942
Held-to-maturity investments	9	-	30,374
Cash and bank deposits	3,893,544	3,198,902
Total current assets	8,232,292	7,314,832
CURRENT LIABILITIES Trade and bills payables	14	1,681,582	973,387
Other payables and accruals	1,525,902	1,564,290
Borrowings	15	1,065,502	1,158,729
Tax payable	104,562	113,440
Total current liabilities	4,377,548	3,809,846
NET CURRENT ASSETS	3,854,744	3,504,986
TOTAL ASSETS LESS CURRENT LIABILITIES	12,271,575	10,709,682