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GOLDEN WHEEL TIANDI HOLDINGS COMPANY LIMITED金 輪 天 地 控 股 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1232) PRELIMINARY ANNOUNCEMENT OF INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017 FINANCIAL HIGHLIGHTSContracted sales amounted to RMB846.1 million for the six months ended 30 June 2017 (30 June 2016: RMB1,497.0 million).
Revenue increased by 715.7% to RMB1,050.6 million for the six months ended 30 June 2017 (30 June 2016: RMB128.8 million).
Rental income increased by 15.6% to RMB79.5 million for the six months ended 30 June 2017 (30 June 2016: RMB68.8 million).
Gross profit margin for property sales and property leasing for the six months ended 30 June 2017 amounted to 38.2% (30 June 2016: 32.6%) and 75.5% (30 June 2016: 68.6%).
Profit for the period increased by 172.7% to RMB273.8 million for the six months ended 30 June 2017 (30 June 2016: RMB100.4 million) with earnings per share increasing by 171.4%, to RMB15.2 cents per share for the six months ended 30 June 2017 (30 June 2016: RMB5.6 cents per share).
Total equity amounted to RMB4,150.9 million as at 30 June 2017 (31 December 2016: RMB3,929.4 million) with net asset value per share amounting to RMB2.30 per share (31 December 2016: RMB2.18 per share). Note1
•
As of 30 June 2017, the Group (as defined herein) had total cash and bank deposits of
approximately RMB1,430.4 million. Net gearing ratio was 49.3% as at 30 June 2017 (31 December 2016: 26.2%). Note 2
•
The Board resolved to declare an interim dividend of RMB1.88 cents (equivalent to
HKD2.22 cents) per share.
Notes:
Net asset value per share is calculated by dividing the total equity by the weighted average number of shares.
Net gearing ratio is calculated by dividing the aggregate bank borrowings, senior notes and bonds net of cash and bank balance and structured and restricted bank deposit over the total equity.
The board of directors (the "Board") of Golden Wheel Tiandi Holdings Company Limited (the "Company") is pleased to announce the unaudited condensed consolidated results of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 June 2017, together with the comparative figures for the corresponding period of 2016, as follows:
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMESix months ended
30 June | 30 June | |
2017 | 2016 | |
NOTES | (unaudited) RMB'000 | (unaudited) RMB'000 |
Revenue | 3 | 1,050,618 | 128,791 | |
Cost of sales | (620,043) | (61,985) | ||
Gross profit | 430,575 | 66,806 | ||
Other income, expenses, gains and losses | 4 | 109,597 | 31,953 | |
Selling and marketing expenses | (14,669) | (17,641) | ||
Administrative expenses | (77,637) | (59,391) | ||
Finance costs | 5 | (36,474) | (40,214) | |
Share of losses of an associate | (106) | - | ||
Share of (losses) profits of joint ventures | (2,127) | 28,368 | ||
Changes in fair value of investment properties | 10 | 89,187 | 126,129 | |
Profit before tax | 6 | 498,346 | 136,010 | |
Taxation | 7 | (224,521) | (35,579) | |
Profit for the period | 273,825 | 100,431 |
Six months ended
30 June 30 June
2017 2016
(unaudited) (unaudited)
NOTES RMB'000 RMB'000
Other comprehensive income:
Items that will not be reclassified to profit or loss:
Exchange differences on translating
foreign operations (7,388) -
(7,388) -
Profit for the period and attributable to:
owners of the Company 273,825 100,431
Total comprehensive income attributable to:
owners of the Company 266,437 100,431
EARNINGS PER SHARE
Basic (RMB per share) 8 0.152 0.056
Diluted (RMB per share) 8 0.152 0.056
Golden Wheel Tiandi Holdings Co. Ltd. published this content on 24 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 August 2017 12:42:04 UTC.
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