Universal Health Intl : ANNUAL RESULTS ANNOUNCEMENT FOR ...

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UNIVERSAL HEALTH INTERNATIONAL GROUP HOLDING LIMITED

大健康國際集團控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2211) ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2016

ANNUAL RESULTS HIGHLIGHTS	2016	2015	Change
RMB Million	RMB Million	(% )
Revenue	3,378.7	4,805.9	-29.7
Gross profit	874.1	1,340.6	-34.8
Operating (loss)/profit	(79.9)	97.2	-182.2
(Loss)/profit for the year	(87.3)	33.9	-357.8
Basic (loss)/earnings per share - RMB cents	(3.92)	1.57	-349.7
Gross margin (%)	25.9	27.9	-2.0pp
Operating (loss)/profit margin (%)	(2.4)	2.0	-4.4pp
Net (loss)/profit margin (%)	(2.6)	0.7	-3.3pp

The board (the "Board") of directors (the "Directors") of Universal Health International Group Holding Limited (the "Company") is pleased to announce the audited consolidated results of the Company and its subsidiaries (collectively, the "Group") for the year ended 31 December 2016 (the "Period") together with the comparative figures for the year ended 31 December 2015 as follows:

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Year ended 31 December

Note	2016 RMB'000	2015 RMB'000
Revenue	2	3,378,719	4,805,855
Cost of sales	3	(2,504,633)	(3,465,280)
Gross profit	874,086	1,340,575
Selling and marketing expenses	3	(727,197)	(986,418)
Administrative expenses	3	(91,620)	(148,108)
Goodwill impairment	3	(129,139)	(108,899)
Other income	2,641	678
Other losses - net	(8,643)	(643)
Operating (loss)/profit	(79,872)	97,185
Finance income	4	18,715	15,476
Finance costs	4	(5,762)	(6,876)
Finance income - net	4	12,953	8,600
Share of post-tax profits of joint ventures	691	1,066
Share of post-tax profit of an associate	3,548	-
(Loss)/profit before income tax	(62,680)	106,851
Income tax expenses	5	(24,638)	(72,977)
(Loss)/profit for the year	(87,318)	33,874
(Loss)/profit attributable to: - Owners of the Company	(87,811)	31,163
- Non-controlling interests	493	2,711
(87,318)	33,874
(Loss)/earnings per share attributable to owners of the Company for the year (RMB cents) - Basic and diluted	6	(3.92)	1.57
Other comprehensive income Item that may be reclassified to profit or loss Currency translation differences	(7,938)	(5,551)
Total comprehensive income for the year	(95,256)	28,323
Total comprehensive income attributable to: - Owners of the Company	(95,749)	25,612
- Non-controlling interests	493	2,711
(95,256)	28,323

CONSOLIDATED BALANCE SHEET	As at 31	December
Note	2016 RMB'000	2015 RMB'000
ASSETS Non-current assets Property, plant and equipment	226,665	103,167
Land use rights	3,619	3,713
Intangible assets	517,681	672,055
Investments in joint ventures	8,211	7,520
Investment in an associate	246,624	-
Prepayment for construction in progress	25,426	-
Deferred income tax assets	12,862	19,297
Total non-current assets	1,041,088	805,752
Current assets Trade and other receivables	8	545,535	442,853
Inventories	391,756	398,605
Restricted cash	217,131	227,414
Cash and cash equivalents	1,107,329	1,333,320
Total current assets	2,261,751	2,402,192
Total assets	3,302,839	3,207,944
EQUITY Equity attributable to owners of the Company Share capital	14,878	12,259
Reserves	1,524,900	1,319,669
Retained earnings	1,168,911	1,256,722
2,708,689	2,588,650
Non-controlling interests	24,761	29,720
Total equity	2,733,450	2,618,370

As at 31 December

2016	2015
Note	RMB'000	RMB'000

LIABILITIES Non-current liabilities

Deferred income tax liabilities 41,282 46,585

Current liabilities

Borrowings	154,550	166,920
Trade and other payables	9	371,926	373,464
Current income tax liabilities	1,631	2,605
Total current liabilities	528,107	542,989
Total liabilities	569,389	589,574
Total equity and liabilities	3,302,839	3,207,944