Tianjin Development : Unaudited Financial Results for the three months ended 31 March 2021 of Tianjin Lisheng Pharmaceutical Co., Ltd.

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.

(Incorporated in Hong Kong with limited liability)

(Stock Code: 882)

UNAUDITED FINANCIAL RESULTS

FOR THE THREE MONTHS ENDED 31 MARCH 2021 OF TIANJIN LISHENG PHARMACEUTICAL CO., LTD.

This announcement is made by Tianjin Development Holdings Limited (the "Company") pursuant to Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited to provide shareholders of the Company and the public with the unaudited consolidated financial results of its indirect non-wholly owned subsidiary, Tianjin Lisheng Pharmaceutical Co., Ltd. (天津力生製藥股份有限公司) ("Lisheng Pharmaceutical"), for the three months ended 31 March 2021.

Lisheng Pharmaceutical is a company incorporated in the People's Republic of China whose shares are listed on the Shenzhen Stock Exchange. As at the date of this announcement, the Company indirectly holds approximately 34.41% of the issued share capital of Lisheng Pharmaceutical. The unaudited consolidated income statement for the three months ended 31 March 2021 and the unaudited condensed consolidated balance sheet as at 31 March 2021 of Lisheng Pharmaceutical prepared in accordance with China Accounting Standards for Business Enterprises are provided below:

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Tianjin Lisheng Pharmaceutical Co., Ltd.

Consolidated Income Statement

For the three months ended 31 March 2021

		For the three months ended 31 March
		2021	2020
		RMB	RMB
		(unaudited)	(unaudited)
1.	Total operating income	327,607,280.27	332,679,628.71
	Including: Operating income	327,607,280.27	332,679,628.71
2.	Total operating costs	291,975,589.01	300,161,330.86
	Including: Costs of sales	137,262,454.58	115,984,124.76
	Business tax and surcharge	5,942,263.49	6,557,370.73
	Selling expenses	101,087,947.36	136,741,134.72
	Administrative expenses	24,768,132.92	26,480,341.22
	Research expenses	25,246,079.69	20,248,379.12
	Finance expenses	-2,331,289.03	-5,850,019.69
	Including: Interest expenses	83,747.03	324,037.45
	Interest income	2,397,681.48	6,227,832.38
	Add: Other gains	916,498.80	180,276.55
	Investment income	7,316,164.19	3,394,305.00
	Including: Investment income from associates
	and joint ventures	7,316,164.19	3,394,305.00
3.	Operating profit	43,864,354.25	36,092,879.40
	Add: Non-operating income	56,151.98	4,649,374.82
	Less: Non-operating expenses	129,252.77	70,765.77
4.	Total profit	43,791,253.46	40,671,488.45
	Less: Income tax expenses	7,736,752.89	6,418,962.76
5.	Net profit	36,054,500.57	34,252,525.69
	Net profit attributable to owners of parent company	36,054,500.57	34,252,525.69
6.	Other comprehensive income, net of tax	―	―
7.	Total comprehensive income	36,054,500.57	34,252,525.69
	Total comprehensive income attributable to
	owners of parent company	36,054,500.57	34,252,525.69
8.	Earnings per share:
	(1) Basic earnings per share (RMB/share)	0.20	0.19
	(2) Diluted earnings per share (RMB/share)	0.20	0.19

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Tianjin Lisheng Pharmaceutical Co., Ltd.

Condensed Consolidated Balance Sheet

As at 31 March 2021

	At 31 March		At 31 December
	2021	2020
	RMB		RMB
	(unaudited)		(audited)
ASSETS
Current assets	2,274,324,719.01	2,244,370,080.04
Non-current assets	2,786,607,720.44	2,777,812,908.95
Total assets	5,060,932,439.45	5,022,182,988.99
LIABILITIES
Current liabilities	500,148,900.06	502,759,834.78
Non-current liabilities	223,445,059.13		217,327,396.52
Total liabilities	723,593,959.19	720,087,231.30
OWNERS' EQUITY
Share capital	182,454,992.00	182,454,992.00
Capital reserves	1,691,564,108.23	1,691,564,108.23
Other comprehensive income	1,005,189,102.53	1,005,189,102.53
Special reserves	13,964,041.15	14,775,819.15
Surplus reserves	402,847,934.45	402,847,934.45
Undistributed profit	1,041,318,301.90	1,005,263,801.33
Total equity attributable to owners of
parent company	4,337,338,480.26	4,302,095,757.69
TOTAL OWNERS' EQUITY	4,337,338,480.26	4,302,095,757.69
TOTAL LIABILITIES AND
OWNERS' EQUITY	5,060,932,439.45	5,022,182,988.99

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Shareholders of the Company should note that the above unaudited financial information pertains only to Lisheng Pharmaceutical and not to the Company itself.

Details of the unaudited consolidated financial results of Lisheng Pharmaceutical for the three months ended 31 March 2021 are available on the website of Shenzhen Stock Exchange (www.szse.cn).

By Order of the Board

Tianjin Development Holdings Limited

Chen Yanhua

Executive Director and General Manager

Hong Kong, 28 April 2021

As at the date of this announcement, the board of directors of the Company consists of Mr. Zhang Bingjun, Mr. Chen Yanhua, Dr. Li Xiaoguang, Mr. Zhuang Qifei, Mr. Cui Xiaofei, Mr. Cheung Wing Yui, Edward*, Dr. Cheng Hon Kwan**, Mr. Mak Kwai Wing, Alexander**, Ms. Ng Yi Kum, Estella**, Mr. Wong Shiu Hoi, Peter** and Dr. Loke Yu**.

• non-executivedirector
• independent non-executive director

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