China Polymetallic Mining : Announcements and Notices - Announcement of Unaudited Interim Results for the Six Months E ...

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China Polymetallic Mining Limited

中國多金屬礦業有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2133) ANNOUNCEMENT OF UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2016 FINANCIAL HIGHLIGHTS

• The Group's revenue for the Review Period amounted to approximately RMB11.0 million (six months ended 30 June 2015: RMB78.3 million; a decrease of RMB67.3 million), and the Group's cost of sales amounted to approximately RMB11.6 million (six months ended 30 June 2015: RMB35.8 million; a decrease of RMB24.2 million), representing a gross loss amounting to approximately RMB569,000 (gross profit for the six months ended 30 June 2015: RMB42.5 million) and gross loss ratio of around 5.5% (gross profit margin for six months ended 30 June 2015: 54.3%).

• The Group's net loss for the Review Period was approximately RMB64.5 million (six months ended 30 June 2015: RMB6.5 million loss; an increase of RMB58.0 million loss).

• The basic and diluted loss per share attributable to ordinary equity holders of the Company for the Review Period amounted to approximately RMB0.032 (six months ended 30 June 2015: RMB0.003 loss; an increase of RMB0.029 loss).

• As at 30 June 2016, the balance of cash and cash equivalents was RMB656.7 million (31 December 2015: RMB672.7 million; a decrease of RMB16.0 million).

• On 26 July 2016, the Board resolved not to recommend or declare any interim dividend for the Review Period to the Company's shareholders (2015: no interim dividend and no final dividend).

The Board is pleased to announce the unaudited interim condensed financial information of the Group for the six months ended 30 June 2016, together with the comparative information for the corresponding period in 2015 as follows:

FINANCIAL INFORMATION INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the six months ended 30 June 2016

For the six months ended 30 June
2016	2015
Notes	RMB'000	RMB'000
(Unaudited)	(Unaudited)
REVENUE	3	11,035	78,336
Cost of sales	(11,604)	(35,793)
Gross profit/(loss)	(569)	42,543
Other income and gains	4	1,027	8,472
Selling and distribution expenses	(306)	(334)
Administrative expenses	(28,514)	(18,397)
Impairment loss on other receivables	5	(36,049)	-
Other expenses	(565)	(73)
Finance costs	5	(19,980)	(37,552)
LOSS BEFORE TAX	5	(84,956)	(5,341)
Income tax credit/(expense)	6	20,498	(1,197)
LOSS FOR THE PERIOD	(64,458)	(6,538)
Attributable to:
Owners of the Company	(63,909)	(6,194)
Non-controlling interests	(549)	(344)
(64,458)	(6,538)
Loss per share attributable to ordinary equity holders of the Company:
- Basic and diluted	7	RMB(0.032)	RMB(0.003)

For the six months ended 30 June
2016	2015
RMB'000	RMB'000
(Unaudited)	(Unaudited)
Other comprehensive income
Other comprehensive income to be reclassified to profit or loss in subsequent periods:
Changes in fair value	-	8,951
Other comprehensive income for the period, net of tax	-	8,951
Total comprehensive income/(loss) for the period	(64,458)	2,413
Attributable to:
Owners of the Company	(63,909)	2,667
Non-controlling interests	(549)	(254)
(64,458)	2,413

INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION

30 June 2016

30 June	31 December
2016	2015
Notes	RMB'000	RMB'000
(Unaudited)
NON-CURRENT ASSETS
Property, plant and equipment	8	609,710	629,288
Investment property	9	8,981	-
Intangible assets	8	737,638	739,991
Prepaid land lease payments	8	11,912	12,047
Payments in advance	10	50,042	47,691
Prepayments and deposits	10	215,635	215,635
Deferred tax assets	76,376	55,878
Total non-current assets	1,710,294	1,700,530
CURRENT ASSETS
Inventories	22,010	26,940
Trade receivables	11	15,610	66,197
Prepayments, deposits and other receivables	10	15,977	19,256
Cash and cash equivalents	656,716	672,738
Total current assets	710,313	785,131
CURRENT LIABILITIES
Trade payables	12	9,566	9,349
Other payables and accruals	184,501	199,640
Due to a related party	13	13,594	-
Tax payable	95,132	95,132
Interest-bearing bank and other loans	14	200,984	200,984
Total current liabilities	503,777	505,105
NET CURRENT ASSETS	206,536	280,026
Total assets less current liabilities	1,916,830	1,980,556