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 SHENGMU ORGANIC MILK LIMITED中國聖牧有機奶業有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1432) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX-MONTH PERIOD ENDED JUNE 30, 2017FINANCIAL HIGHLIGHTS | |||
For the six-month period ended | |||
June 30, 2017 | June 30, 2016 | Movements | |
RMB' 000 | RMB' 000 | ||
Revenue | 1,152,184 | 1,616,772 | -28.7% |
Gross profit | 500,413 | 773,362 | -35.3% |
Profit for the period | 131,388 | 534,865 | -75.4% |
Profit attributable to owners of the parent | 6,381 | 402,345 | -98.4% |
In this announcement "we", "us" and "our" refer to the Company (as defined below) and where the context otherwise requires, the Group (as defined below).
Translated English names of Chinese natural persons, legal persons, governmental authorities, institutions or other entities for which no official English translation exist are unofficial translations for identification purpose only.
The board (the "Board") of directors (the "Directors") of China Shengmu Organic Milk Limited (the "Company" or "China Shengmu") herein presents the unaudited consolidated interim results of the Company and its subsidiaries (the "Group"or "Shengmu") for the six-month period ended June 30, 2017, together with the comparative figures for the corresponding period in 2016 as follows:
INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFor the six-month period ended | ||||||
Notes | June 30, 2017 | June 30, 2016 | ||||
(unaudited) | (unaudited) | |||||
RMB'000 | RMB'000 | |||||
REVENUE | 4 | 1,152,184 | 1,616,772 | |||
Cost of sales | (651,771) | (843,410) | ||||
Gross profit | 500,413 | 773,362 | ||||
Gain/(loss) arising from changes in fair value less costs to sell of biological assets | (61,925) | 29,675 | ||||
Other income and gains/(losses) | 4 | (85,435) | 19,429 | |||
Selling and distribution expenses | (120,659) | (131,961) | ||||
Administrative expenses | (50,949) | (76,309) | ||||
Finance costs | (68,386) | (61,325) | ||||
Share of profits and losses of associates | (7,425) | (9,222) | ||||
PROFIT BEFORE TAX | 105,634 | 543,649 | ||||
Income tax credit/(expense) | 5 | 25,754 | (8,784) | |||
PROFIT FOR THE PERIOD | 131,388 | 534,865 | ||||
OTHER COMPREHENSIVE INCOME | ||||||
Exchange differences on translation of foreign operations | 634 | 2,362 | ||||
Net other comprehensive income to be reclassified to profit or loss in subsequent periods | 634 | 2,362 | ||||
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | 132,022 | 537,227 |
For the six-month period ended | ||||||
Notes | June 30, 2017 | June 30, 2016 | ||||
(unaudited) | (unaudited) | |||||
RMB'000 | RMB'000 | |||||
Profit attributable to: | ||||||
Owners of the parent | 6,381 | 402,345 | ||||
Non-controlling interests | 125,007 | 132,520 | ||||
131,388 | 534,865 | |||||
Total comprehensive income attributable to: | ||||||
Owners of the parent | 7,015 | 404,707 | ||||
Non-controlling interests | 125,007 | 132,520 | ||||
132,022 | 537,227 | |||||
Earnings per share attributable to ordinary equity holders of the parent: | 6 | |||||
Basic | RMB0.001 | RMB0.063 | ||||
Diluted | RMB0.001 | RMB0.063 |
As at | |||||
Notes | June 30, 2017 | December 31, 2016 | |||
(unaudited) | (audited) | ||||
RMB'000 | RMB'000 | ||||
NON-CURRENT ASSETS | |||||
Property, plant and equipment | 2,711,901 | 2,710,368 | |||
Prepaid land lease payments | 36,577 | 37,566 | |||
Other intangible assets | 14,234 | 14,847 | |||
Investments in associates | 105,233 | 112,658 | |||
Available-for-sale investments | 2,007 | 1,427 | |||
Biological assets | 8 | 4,170,273 | 3,884,257 | ||
Prepayments for property, plant and equipment and biological assets | 7,164 | 11,963 | |||
Long term receivables | 16,484 | 19,684 | |||
Deferred tax assets | 50,536 | 24,634 | |||
Other non-current assets | 23,683 | 16,565 | |||
Total non-current assets | 7,138,092 | 6,833,969 | |||
CURRENT ASSETS | |||||
Inventories | 862,178 | 928,816 | |||
Trade and bills receivables | 1,444,766 | 1,108,787 | |||
Prepayments, deposits and other receivables | 442,008 | 393,550 | |||
Pledged deposits | 82,731 | 66,791 | |||
Available-for-sale investments | 31,000 | 120,000 | |||
Cash and bank balances | 1,202,376 | 1,047,382 | |||
Total current assets | 4,065,059 | 3,665,326 |
China Shengmu Organic Milk Ltd. published this content on 29 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 August 2017 15:07:09 UTC.
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