Hong Kong Exchanges and Clearing : INTERIM RESULTS ANNOUNCEMENT AS OF 30 JUNE 2019

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.

瑞港國際機場集團股份有限公司

Regal International Airport Group Company Limited*

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 357)

INTERIM RESULTS ANNOUNCEMENT AS OF 30 JUNE 2019

FINANCIAL HIGHLIGHTS

• Total revenue was RMB813.64 million
  (for the six months ended 30 June 2018: RMB926.34 million)
• Revenue from aeronautical business was RMB371.80 million (for the six months ended 30 June 2018: RMB487.27 million)
• Revenue from non-aeronautical business was RMB441.84 million (for the six months ended 30 June 2018: RMB439.07 million)
• Net profit attributable to shareholders was RMB275.35 million (for the six months ended 30 June 2018: RMB371.84 million)
• Earnings per share was RMB0.58
  (for the six months ended 30 June 2018: RMB0.79)

BUSINESS HIGHLIGHTS

• • The passenger throughput recorded 12.4994 million
    (for the six months ended 30 June 2018: 12.3459 million)
  • Aircraft takeoff and landing reached 83,631 times (for the six months ended 30 June 2018: 83,103 times)
  • Cargo throughput was 178,875.30 tons
    (for the six months ended 30 June 2018: 179,308.30 tons)
• For identification purposes only
• • 1 -

RESULTS

The board of directors (the "Directors") of Regal International Airport Group Company Limited (the "Company" or "Meilan Airport") (the "Board") is pleased to announce the unaudited financial position and operating results of the Company and its subsidiaries (the "Group") as at 30 June 2019 and for the six months then ended which have been reviewed by the audit committee of the Company (the "Audit Committee"), together with the comparative figures for the corresponding period of 2018 as follows:

The selected consolidated financial information prepared according to China Accounting Standards for Business Enterprises is as follows:

CONSOLIDATED INCOME STATEMENT

			Six months ended 30 June
			2019		2018
		Note(s)	RMB	RMB
			Unaudited	Unaudited
Revenue	2	813,635,900		926,341,233
Less:	Cost of sales		(358,128,083)	(339,646,053)
	Taxes and surcharges		(14,568,155)	(15,877,336)
	Selling and distribution expenses		(2,143,245)	(1,642,992)
	General and administrative expenses		(35,342,767)	(38,368,024)
	Finance expenses - net	3	(4,070,680)	(80,519,643)
	Expected credit loss of financial assets		(795,387)	(1,004,207)
Add:	Gain/(Loss) on disposals of assets		1,136,364		(59,227)
	Investment (loss)/income	4	(21,434,521)	39,635,316
	Including: Investment (loss)/income
	on associates		(21,434,521)	39,635,316
	Other income		1,207,419		3,873,131
Operating profit		379,496,845		492,732,198
Add:	Non-operating income		31,679		777,272
Less:	Non-operating expenses		(282)	(23,551)
Total profit		379,528,242		493,485,919
Less:	Income tax expenses	5	(99,469,545)	(117,705,550)

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		Six months ended 30 June
		2019	2018
	Note(s)	RMB		RMB
		Unaudited		Unaudited
Net profit		280,058,697		375,780,369
Attributable to shareholders of the Company		275,345,170	371,841,595
Minority interests		4,713,527	3,938,774
Other comprehensive income, net of tax		338,408		961,533
Attributable to shareholders of the Company		338,408	961,533
Other comprehensive income that will be
subsequently reclassified to profit or loss		338,408	961,533
Share of the other comprehensive income of the
investee accounted for using equity method that
will be subsequently reclassified to profit and loss		338,408		961,533
Total comprehensive income		280,397,105	376,741,902
Earnings per share
- Basic and diluted earnings per share	6	0.58	0.79

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CONSOLIDATED BALANCE SHEET
			30 June		31 December
			2019	2018
		Note(s)	RMB		RMB
			Unaudited		Audited
ASSETS
Current assets
Cash at bank and on hand		264,297,005	81,958,509
	Accounts receivable	8	401,755,972	371,857,289
	Prepayments		5,591,202	10,140,900
	Other receivables		15,510,925	13,042,752
	Inventories		835,038	615,299
	Other current assets		8,190,366		9,398,072
Total current assets		696,180,508	487,012,821
Non-current assets
	Long-term equity investments		1,375,475,797	1,396,571,910
	Investment properties		1,236,423,425	1,254,387,683
	Fixed assets		2,287,703,677	2,459,476,620
	Construction in progress		1,992,580,431	1,471,487,020
	Right-of-use asset		128,048,815		-
	Intangible assets		159,076,061	160,944,155
	Long-term prepaid expenses		7,310,633	7,608,487
	Deferred tax assets		6,054,620	6,520,866
	Other non-current assets		1,046,604,250	1,622,131,422
Total non-current assets		8,239,277,709	8,379,128,163
Total assets		8,935,458,217	8,866,140,984

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			30 June	31 December
			2019		2018
		Note(s)	RMB	RMB
			Unaudited	Audited
LIABILITIES AND EQUITY
Current liabilities
	Short-term borrowings		379,450,000		379,450,000
	Accounts payable	9	241,124,471		191,749,574
	Advances from customers		140,138,806		63,868,312
	Contract liabilities		1,514,932		14,134,576
	Employee benefits payable		33,788,125		26,760,811
	Taxes payable		368,530,530		317,157,645
	Other payables		715,514,859		770,652,096
	Non-current liabilities due within one year	10	611,352,606		1,899,553,213
Total current liabilities		2,491,414,329		3,663,326,227
Non-current liabilities
	Lease liability		13,335,159		-
	Long-term payables		1,362,900,929		384,015,088
Long-term employee benefits payable		70,601		82,704
	Other non-current liabilities		215,384,033		246,777,344
	Deferred tax liability		16,440		-
Total non-current liabilities		1,591,707,162		630,875,136
Total liabilities		4,083,121,491		4,294,201,363
Shareholders' equity
	Share capital		473,213,000		473,213,000
	Capital surplus		813,135,400		813,135,400
	Surplus reserve		246,394,231		246,394,231
	Other comprehensive income		(11,945,888)	(12,284,296)
	Retained earnings		3,289,019,898		3,013,674,728

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