EVERCHINA INT'L HOLDINGS COMPANY 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.
EVERCHINA INT'L HOLDINGS COMPANY LIMITED ᆗʕყછٰϞࠢʮ̡
(incorporated in Hong Kong with limited liability)
(Stock Code: 202)
UNAUDITED INTERIM RESULTS
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
FINANCIAL HIGHLIGHTS
• Loss for the period amounted to HK$496,248,000, representing a decrease of 12.7% as compared to the same period in 2017.
• The Board does not recommend the payment of interim dividend for the six months ended 30 September 2018 (six months ended 30 September 2017: Nil).
• At 30 September 2018, total equity amounted to HK$2,483,295,000, representing a decrease of 21.1% as compared to HK$3,147,461,000 as at 31 March 2018.
• At 30 September 2018, net assets per share was HK$0.41, representing a decrease of 21.2% as compared to HK$0.52 as at 31 March 2018.
The board (the "Board") of directors (the "Directors") of EverChina Int'l Holdings Company Limited (the "Company") announces the unaudited condensed consolidated results of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 September 2018, together with the comparative figures, as follows:
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
For the six months ended
30 September
2018 | 2017 | ||
Notes | HK$'000 | HK$'000 | |
(Unaudited) | (Unaudited) | ||
Revenue | 3 | (1,995) | 62,955 |
Cost of sales | (5,090) | (1,939) | |
Other income and gain, net | 4 | 7,445 | 12,005 |
Staff costs | (16,574) | (17,490) | |
Depreciation | (7,431) | (7,704) | |
Administrative costs | (16,739) | (30,166) | |
Other operating expenses | - | (63,798) | |
Loss arising on change in fair value of investment | |||
properties | (1,149) | (31,636) | |
Loss arising on change in fair value of financial | |||
assets at fair value through profit or loss | (449,399) | (360,219) | |
Loss from operations | 5 | (490,932) | (437,992) |
Finance costs | 6 | (32,724) | (36,678) |
Gain on disposal of a subsidiary | - | 2,032 | |
Loss before taxation | (523,656) | (472,638) | |
Taxation | 7 | 27,408 | (95,837) |
Loss for the period | (496,248) | (568,475) | |
Attributable to: | |||
Owners of the Company | (496,217) | (568,439) | |
Non-controlling interests | (31) | (36) | |
(496,248) | (568,475) | ||
Loss per share attributable to the owners | |||
of the Company | 8 | ||
- Basic and diluted | HK(8.16) cents | HK(9.35) cents |
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2018
For the six months ended
30 September
2018 | 2017 | |
HK$'000 | HK$'000 | |
(Unaudited) | (Unaudited) | |
Loss for the period | (496,248) | (568,475) |
Other comprehensive income | ||
Items that maybe reclassified subsequently to profit or loss | ||
Exchange differences arising on translation during the | ||
period | (167,918) | 144,038 |
Release of exchange reserve upon disposal of a subsidiary | - | 9,176 |
Total comprehensive loss for the period | (664,166) | (415,261) |
Total comprehensive loss attributable to: | ||
Owners of the Company | (664,135) | (415,225) |
Non-controlling interests | (31) | (36) |
(664,166) | (415,261) |
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AT 30 SEPTEMBER 2018
At | At | ||
30 September | 31 March | ||
2018 | 2018 | ||
Notes | HK$'000 | HK$'000 | |
(Unaudited) | (Audited) | ||
Non-current assets | |||
Investment properties | 10 | 1,255,536 | 1,347,788 |
Property, plant and equipment | 525,803 | 569,177 | |
Mining rights | 271,880 | 271,880 | |
Goodwill | 91,454 | 91,454 | |
Deposit paid for acquisition of subsidiaries | 195,000 | 195,000 | |
2,339,673 | 2,475,299 | ||
Current assets | |||
Inventories | 5 | 7 | |
Biological assets | 3,094 | 2,837 | |
Trade and other receivables and prepayments | 11 | 346,203 | 378,544 |
Loan receivables | 12 | 93,215 | 91,084 |
Financial assets at fair value through profit or | |||
loss | 13 | 755,095 | 1,393,232 |
Cash and cash equivalents | 157,368 | 179,712 | |
1,354,980 | 2,045,416 | ||
Total assets | 3,694,653 | 4,520,715 | |
Capital and reserves | |||
Share capital | 2,490,454 | 2,490,454 | |
Reserves | (49,815) | 614,320 | |
Equity attributable to owners of the Company | 2,440,639 | 3,104,774 | |
Non-controlling interests | 42,656 | 42,687 | |
Total equity | 2,483,295 | 3,147,461 |
At | At | ||
30 September | 31 March | ||
2018 | 2018 | ||
Notes | HK$'000 | HK$'000 | |
(Unaudited) | (Audited) | ||
Non-current liability | |||
Deferred tax liabilities | 93,946 | 102,492 | |
Current liabilities | |||
Trade and other payables and deposits received | 14 | 183,641 | 148,848 |
Tax payable | 2,263 | 2,263 | |
Other borrowings | 15 | 931,508 | 1,119,651 |
1,117,412 | 1,270,762 | ||
Total liabilities | 1,211,358 | 1,373,254 | |
Total equity and liabilities | 3,694,653 | 4,520,715 | |
Net current assets | 237,568 | 774,654 | |
Total assets less current liabilities | 2,577,241 | 3,249,953 |
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Everchina International Holdings Co. Ltd. published this content on 30 November 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 November 2018 13:11:05 UTC
