Greatview Aseptic Packaging : 2015 Final Results Announcement

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GREATVIEW ASEPTIC PACKAGING COMPANY LIMITED

紛 美 包 裝 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock code: 00468)

ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2015

The board (the "Board") of directors (the "Directors") of Greatview Aseptic Packaging Company Limited (the "Company" or "Greatview") is pleased to announce the consolidated financial statements of the Company and its subsidiaries (the "Group") for the year ended 31 December 2015 together with comparative figures for the year ended 31 December 2014 as follows:

The figures in respect of this announcement of the Group's consolidated income statement, consolidated statement of comprehensive income, consolidated statement of financial position, consolidated statement of changes in equity, consolidated statement of cash flows and the related notes ("financial information") does not constitute the Group's statutory financial statements for the year ended 31 December 2015, but represents an extract from those financial statements. The following financial information, including the comparative figures has been reviewed by the audit committee of the Company (the "Audit Committee") and agreed by the Group's external auditors, PricewaterhouseCoopers ("PwC"), Certified Public Accountants in Hong Kong, to the amounts set out in the Group's draft consolidated financial statements for the year ended 31 December 2015. The work performed by PwC in this respect did not constitute an assurance engagement in accordance with Hong Kong Standards on Auditing, Hong Kong Standards on Review Engagements or Hong Kong Standards on Assurance Engagements issued by the Hong Kong Institute of Certified Public Accountants and consequently no assurance has been expressed by PwC on this announcement.

CONSOLIDATED INCOME STATEMENT

For the year ended 31 December 2015

Amounts expressed in thousands of RMB unless otherwise stated

Year ended 31 December
Note	2015	2014
Revenue	4	2,218,934	2,231,545
Cost of sales	5	(1,601,413)	(1,686,219)
Gross profit	617,521	545,326
Other income	4	33,154	37,841
Other losses - net	4	(14,680)	(5,225)
Distribution expenses	5	(99,591)	(99,238)
Administrative expenses	5	(130,656)	(114,306)
Operating profit	405,748	364,398
Finance income	6	13,977	11,875
Finance expenses	6	(7,272)	(7,552)
Finance income - net	6,705	4,323
Profit before income tax	412,453	368,721
Taxation	7	(95,923)	(89,024)
Profit for the year	316,530	279,697
Profit attributable to:
Equity holders of the Company	316,530	279,697
Earnings per share for profit attributable to equity holders of the Company
- Basic earnings per share (RMB)	8	0.24	0.21
- Diluted earnings per share (RMB)	8	0.24	0.21
Dividends	9	233,955	212,684

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the year ended 31 December 2015

Amounts expressed in thousands of RMB unless otherwise stated

Year ended 31 December
2015	2014
Profit for the year	316,530	279,697
Other comprehensive income:
Item that may be reclassified to profit or loss
Currency translation differences	(18,136)	(46,624)
Total comprehensive income for the year	298,394	233,073
Attributable to:
- Equity holders of the Company	298,394	233,073
Total comprehensive income for the year	298,394	233,073

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 31 December 2015

Amounts expressed in thousands of RMB unless otherwise stated

As at 31 December
Note	2015	2014
ASSETS
Non-current assets
Property, plant and equipment	1,235,060	1,239,701
Land use rights	14,305	14,615
Intangible assets	57,519	57,141
Deferred income tax assets	22,646	32,906
Long-term prepayments	8,564	1,304
1,338,094	1,345,667
Current assets
Inventories	566,388	494,886
Trade and other receivables	10	504,045	408,972
Cash and cash equivalents	267,885	489,561
Restricted cash	188,982	278,722
1,527,300	1,672,141
Total assets	2,865,394	3,017,808
EQUITY Capital and reserves attributable to equity holders of the Company Share capital 969,776 990,771 Statutory reserve 207,667 175,117 Retained earnings 1,114,642 1,047,691 Exchange reserve (87,444) (69,308) Total equity 2,204,641 2,144,271 LIABILITIES Non-current liabilities Deferred government grants 91,238 105,282 Deferred income tax liabilities 4,638 6,400 95,876 111,682