Suncity : FOR THE SIX MONTHS ENDED 30 JUNE 2017 INT…

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SUNCITY GROUP HOLDINGS LIMITED

太陽城集團控股有限公司

(formerly known as "Sun Century Group Limited" " 太陽世紀集團有限公司 ")

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1383) FOR THE SIX MONTHS ENDED 30 JUNE 2017 INTERIM RESULTS ANNOUNCEMENT INTERIM RESULTS

The board (the "Board") of directors (the "Directors") of Suncity Group Holdings Limited (the "Company") is pleased to announce the unaudited condensed consolidated interim results of the Company and its subsidiaries (collectively referred to as the "Group") for the six months ended 30 June 2017 together with the comparative figures and selected explanatory notes, which are prepared in accordance with the Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants, and have been reviewed by the Audit Committee of the Company:

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the six months ended 30 June 2017

Six months ended 30 June

Notes	2017 RMB'000 (Unaudited)	2016 RMB'000 (Unaudited)
Revenue	4	333,209	205,524
Cost of sales	(187,840)	(106,761)
Gross profit	145,369	98,763
Other income	3,933	6,101
Other gains and losses	5	(958,571)	21,084
Selling and distribution expenses	(25,887)	(18,983)
General and administrative expenses	(57,534)	(30,620)
Other expenses	(2,062)	(3,390)
Finance costs	6	(39,941)	(115,244)
Loss before tax	8	(934,693)	(42,289)
Income tax expense	9	(121,630)	(22,620)
Loss for the period	(1,056,323)	(64,909)
Other comprehensive expense for the period Item that may be subsequently reclassified to profit or loss: Exchange differences arising on translation of foreign operations	209	-
Total comprehensive expense for the period	(1,056,114)	(64,909)
Loss for the period attributable to: - Owners of the Company	(1,056,267)	(64,844)
- Non-controlling interests	(56)	(65)
(1,056,323)	(64,909)
Total comprehensive expense for the period attributable to: - Owners of the Company	(1,056,058)	(64,844)
- Non-controlling interests	(56)	(65)
(1,056,114)	(64,909)
Loss per Share, in RMB cents Basic	10	(17.56)	(4.32)
Diluted	(17.56)	(4.32)

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

At 30 June 2017

Notes	30 June 2017 RMB'000 (Unaudited)	31 December 2016 RMB'000 (Audited)
NON-CURRENT ASSETS
Property, plant and equipment	4,090	2,643
Investment properties	1,713,000	1,732,000
Deferred tax assets	101	102
1,717,191	1,734,745
CURRENT ASSETS
Inventories	13	741,165	813,540
Trade and other receivables	11	249,940	386,213
Pledged deposits	5,941	1,634
Bank balances and cash	13	137,686	143,439
1,134,732	1,344,826
CURRENT LIABILITIES
Trade and other payables, and accruals	12	262,264	378,171
Receipt in advance	333,179	421,117
Rental and other deposits	8,764	9,238
Bank and other borrowings - due within one year	234,500	270,000
Derivative component of convertible bonds	14	744,273	59,613
Taxation payables	350,595	298,246
Provisions	13	327,233	-
2,260,808	1,436,385
NET CURRENT LIABILITIES	(1,126,076)	(91,559)
TOTAL ASSETS LESS CURRENT LIABILITIES	591,115	1,643,186

30 June 2017 RMB'000 (Unaudited)	31 December 2016 RMB'000 (Audited)
CAPITAL AND RESERVES
Share capital	525,734	524,712
Reserves	(1,164,143)	(131,537)
Equity attributable to owners of the Company	(638,409)	393,175
Non-controlling interests	(786)	(730)
(639,195)	392,445
NON-CURRENT LIABILITIES
Bank and other borrowings - due after one year	877,397	895,139
Deferred tax liabilities	352,913	355,602
1,230,310	1,250,741
591,115	1,643,186