SPT ENERGY GROUP INC. 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.
SPT Energy Group Inc. 華油能源集團有限公司*(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1251) ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2016 ANNUAL RESULTS HIGHLIGHTSThe Group's revenue for the year ended 31 December 2016 was RMB848.1 million, representing a decrease of RMB186.9 million, or 18.1%, from RMB1,035.0 million for the previous year. The loss for the year attributable to equity owners of the Company was RMB292.3 million, representing a decrease of RMB119.9 million, or 29.1%, as compared with loss attributable to equity owners of the Company amounting to RMB412.2 million for the previous year.
No final dividend for the year ended 31 December 2016 was proposed by the Board to the shareholders of the Company (2015: Nil).
RESULTSThe board of directors (the "Board") of SPT Energy Group Inc. (the "Company") announces the audited consolidated results of the Company and its subsidiaries (the "Group") for the year ended 31 December 2016 (the "Reporting Year"), together with the comparative figures for the previous year as follows:
CONSOLIDATED INCOME STATEMENTFOR THE YEAR ENDED 31 DECEMBER 2016
Year ended 31 December 2016 2015Revenue | Note 3 | RMB'000 848,131 | RMB'000 1,035,007 |
Other (losses)/gains, net | (30,015) | 25,212 | |
Operating costs Material costs | (177,672) | (352,372) | |
Employee benefit expenses | (376,230) | (544,423) | |
Operating lease expenses | (52,818) | (69,981) | |
Transportation costs | (22,660) | (40,976) | |
Depreciation and amortisation | (117,860) | (101,891) | |
Technical service expenses | (107,226) | (149,057) | |
Impairment losses of assets | (82,580) | (47,457) | |
Others | (149,153) | (202,201) | |
(1,086,199) | (1,508,358) | ||
Operating loss | (268,083) | (448,139) | |
Finance income | 9 | 1,772 | 2,222 |
Finance expenses | 9 | (32,073) | (40,024) |
Finance expenses, net | (30,301) | (37,802) | |
Share of post-tax result of an associate | (5,000) | - | |
Loss before income tax | 10 | (303,384) | (485,941) |
Income tax (expense)/credit | 10 | (11,270) | 43,386 |
Loss for the year | (314,654) | (442,555) | |
Attributable to: Equity owners of the Company | (292,346) | (412,165) | |
Non-controlling interests | (22,308) | (30,390) | |
(314,654) | (442,555) | ||
Losses per share for the loss | |||
attributable to the equity owners of the Company | |||
Basic losses per share | 12 | (0.190) | (0.269) |
Diluted losses per share 12 (0.190) (0.269)
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOMEFOR THE YEAR ENDED 31 DECEMBER 2016
Year ended 31 December2016 RMB'000 | 2015 RMB'000 | |
Loss for the year | (314,654) | (442,555) |
Other comprehensive income: Items that will not be subsequently reclassified to profit or loss: Currency translation differences | 41,112 | 35,669 |
Items that may be subsequently reclassified to profit or loss: Currency translation differences | 32,015 | (313,937) |
Total comprehensive loss for the year | (241,527) | (720,823) |
Attributable to: Equity owners of the Company | (218,592) | (692,346) |
Non-controlling interests | (22,935) | (28,477) |
(241,527) | (720,823) |
CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2016 | |||
Note | As at 31 2016 RMB'000 | December 2015 RMB'000 | |
Assets Non-current assets Property, plant and equipment | 392,852 | 535,343 | |
Land use rights | 21,758 | 22,241 | |
Intangible assets | 35,727 | 58,417 | |
Deferred income tax assets | 138,842 | 137,609 | |
Prepayments | 5 | 23,685 | 35,750 |
612,864 | 789,360 | ||
Current assets Inventories | 371,631 | 393,824 | |
Trade and note receivables | 4 | 563,744 | 631,794 |
Prepayments and other receivables | 5 | 248,532 | 171,553 |
Restricted bank deposits | 17,619 | 18,855 | |
Cash and cash equivalents | 245,903 | 344,855 | |
1,447,429 | 1,560,881 | ||
Total assets | 2,060,293 | 2,350,241 | |
Equity Equity attributable to the Company's equity owners Share capital | 6 | 974 | 974 |
Share premium | 591,651 | 591,651 | |
Other reserves | 333,874 | 327,276 | |
Currency translation differences | (403,382) | (477,136) | |
Retained earnings | 392,184 | 684,530 | |
915,301 | 1,127,295 | ||
Non-controlling interests | 97,033 | 119,968 | |
Total equity | 1,012,334 | 1,247,263 |
SPT Energy Group Inc. published this content on 21 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 21 March 2017 14:41:06 UTC.
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