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WH Group Limited萬洲國際有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 288) UNAUDITED FINANCIAL RESULTS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2017 OF HENAN SHUANGHUI INVESTMENT & DEVELOPMENT CO., LTD.On October 30, 2017 after trading hours (Hong Kong time), Shuanghui Development released its quarterly report for the nine months ended September 30, 2017.
Henan Shuanghui Investment & Development Co., Ltd. (河南雙匯投資發展股份有限公司) ("Shuanghui Development") is a company incorporated in the People's Republic of China whose shares are listed on the Shenzhen Stock Exchange (the "Shenzhen Stock Exchange"). As at the date of this announcement, WH Group Limited (the "Company") indirectly owns approximately 73.25% equity interest in Shuanghui Development. On October 30, 2017, Shuanghui Development filed its quarterly report with the Shenzhen Stock Exchange for the nine months ended September 30, 2017 (the "Shuanghui Development Quarterly Report"). It is important to note that the unaudited consolidated financial results contained in Shuanghui Development Quarterly Report have been prepared in accordance with the China Accounting Standards for Business Enterprises. The Company prepares its consolidated financial results in accordance with the International Financial Reporting Standards (the "IFRS"). Accordingly, Shuanghui Development's results reported therein differ from Shuanghui Development's results contained in the Company's consolidated financial statements, which include certain adjustments in order to conform to the IFRS.
SUMMARY OF RESULTS OF SHUANGHUI DEVELOPMENT FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2017For the nine months ended September 30, 2017, Shuanghui Development processed 10.1 million hogs, representing an increase of 13% from the comparable period of 2016. External sales volume of meat products was 2.28 million metric tons, representing an increase of 4.7% from the comparable period of 2016. Turnover decreased by 2.67% from the comparable period of 2016 to RMB37,339 million. Net profit decreased by 2.90% from the comparable period of 2016 to RMB3,295 million.
The unaudited consolidated statement of profit or loss for the nine months ended September 30, 2017 and the unaudited consolidated statement of financial position as at September 30, 2017 of Shuanghui Development contained in the Shuanghui Development Quarterly Report are provided below:
SHUANGHUI DEVELOPMENT CONSOLIDATED STATEMENT OF PROFIT OR LOSSFor the nine months ended September 30, 2017
For the nine months ended September 30,2017 RMB | 2016 RMB | ||
(unaudited) | (unaudited) | ||
I. | Total operating income | 37,339,363,172.44 | 38,362,821,191.76 |
Including: Operating income | 37,270,149,155.38 | 38,352,952,162.31 | |
Interest income | 69,056,648.97 | 9,855,114.33 | |
Handling and commission income | 157,368.09 | 13,915.12 | |
Less: Total operating costs | 33,277,943,198.89 | 34,284,876,275.21 | |
Including: Operating costs | 30,031,611,150.88 | 31,364,388,345.11 | |
Interest expenses | 6,979,192.98 | 312,596.23 | |
Handling and commission charges | 630,688.70 | 136,758.82 | |
Business tax and levies | 262,488,053.00 | 143,141,310.26 | |
Selling expenses | 1,832,155,380.08 | 1,705,259,686.81 | |
Administrative expenses | 838,993,989.28 | 963,266,581.66 | |
Financial expenses | 62,982,052.84 | -11,580,465.18 | |
Impairment losses of assets | 242,102,691.13 | 119,951,461.50 | |
Add: Investment income | 44,977,169.58 | 90,456,740.45 |
Including: Income from investments in
associates and joint ventures 14,025,168.32 14,577,501.15
II. | Operating profit | 4,106,397,143.13 | 4,168,401,657.00 |
Add: Non-operating income | 163,629,133.48 | 226,041,210.99 | |
Including: Gain on disposal of | |||
non-current assets | 2,790,798.44 | 1,506,924.50 | |
Less: Non-operating expenses | 24,204,667.11 | 19,332,637.62 | |
Including: Loss on disposal of | |||
non-current assets | 23,359,044.79 | 18,165,833.13 | |
III. | Total profit | 4,245,821,609.50 | 4,375,110,230.37 |
Less: Income tax expenses | 950,348,960.81 | 981,251,152.47 | |
IV. | Net profit | 3,295,472,648.69 | 3,393,859,077.90 |
Net profit attributable to owners of | |||
Shuanghui Development | 3,151,038,717.00 | 3,277,067,649.66 | |
Profit or loss attributable to non-controlling interests | 144,433,931.69 | 116,791,428.24 | |
V. | Total comprehensive income | 3,295,472,648.69 | 3,393,859,077.90 |
Total comprehensive income attributable to | |||
owners of Shuanghui Development | 3,151,038,717.00 | 3,277,067,649.66 | |
Total comprehensive income attributable to | |||
non-controlling interests | 144,433,931.69 | 116,791,428.24 | |
VI. | Earnings per share: | ||
(1) Basic earnings per share | 0.9550 | 0.9932 | |
(2) Diluted earnings per share | 0.9550 | 0.9932 |
As at September 30, 2017
As at September 30, 2017As at January 1, 2017
RMB RMB
(unaudited) (unaudited) Current assets:Cash and bank balances | 5,068,440,765.73 | 3,303,688,588.09 |
Bills receivables | 26,351,285.24 | 60,233,834.95 |
Trade receivables | 109,764,261.58 | 100,835,614.91 |
Prepayments | 37,953,007.36 | 57,586,136.30 |
Other receivables | 29,724,821.37 | 47,682,603.89 |
Inventories | 2,784,665,092.53 | 3,219,714,749.87 |
Non-current assets due within one year | 3,241,517.73 | 2,334,034.42 |
Other current assets | 371,510,336.21 | 248,978,269.65 |
Total current assets | 8,431,651,087.75 | 7,041,053,832.08 |
Non current assets: | ||
Loans receivables | 510,840,000.00 | 742,500,000.00 |
Available-for-sale investments | 34,038,891.59 | 34,038,891.59 |
Long-term equity investments | 174,554,182.54 | 176,666,881.24 |
Fixed assets | 11,624,941,125.34 | 11,574,188,890.19 |
Construction in progress | 161,895,019.21 | 532,599,950.74 |
Materials for construction of fixed assets | 2,889,401.73 | 2,339,249.15 |
Biological assets | 71,185,494.22 | 70,951,919.14 |
Intangible assets | 1,052,751,385.34 | 1,042,586,917.58 |
Long-term prepaid expenses | 68,341,927.20 | 62,792,467.66 |
Deferred tax assets | 65,753,342.87 | 66,787,715.68 |
Other non-current assets | 5,004,083.08 | 5,412,685.60 |
Total non-current assets | 13,772,194,853.12 | 14,310,865,568.57 |
Total assets | 22,203,845,940.87 | 21,351,919,400.65 |
Short-term borrowings | 2,257,000,000.00 | 1,055,000,199.99 |
Deposit receipts | 513,825,229.90 | 335,343,336.65 |
Derivative financial Instruments | 15,464,983.12 | - |
Trade payables | 1,870,858,274.55 | 2,308,776,897.74 |
Receipts in advance | 703,248,624.71 | 712,391,591.65 |
Other loans | 629,064,395.37 | - |
Accrued staff costs | 526,925,197.50 | 600,782,437.34 |
Taxes payables | 382,087,763.35 | 295,603,980.32 |
Interest payables | 4,474,994.20 | 750,025.01 |
Dividend payables | 40,165,171.21 | 118,669,486.46 |
Other payables | 724,159,692.87 | 740,333,008.37 |
Non-current liabilities due within one year | 327,726.78 | 341,855.36 |
Other current liabilities | 7,084,094.86 | 8,440,201.50 |
Total current liabilities | 7,674,686,148.42 | 6,176,433,020.39 |
As at September 30, 2017
As at September 30, 2017As at January 1, 2017
RMB RMB
(unaudited) (unaudited) Non-current liabilities:Long-term borrowings | 5,243,628.55 | 5,825,999.87 |
Long-term other payables | 68,300,000.00 | - |
Deferred income | 48,642,529.05 | 51,986,672.16 |
Deferred tax liabilities | 36,283,529.81 | 48,925,918.81 |
Total non-current liabilities | 158,469,687.41 | 106,738,590.84 |
Total liabilities | 7,833,155,835.83 | 6,283,171,611.23 |
Owners' equity: | ||
Share capital | 3,299,558,284.00 | 3,299,558,284.00 |
Capital reserve | 1,874,861,879.39 | 1,831,050,450.76 |
Other reserve | -7,887,141.39 | - |
Surplus reserve | 1,831,906,631.94 | 1,831,906,631.94 |
General reserve | 15,313.63 | 15,313.63 |
Retained profits | 6,434,420,666.06 | 7,240,262,335.24 |
Total equity attributable to owners | ||
of Shuanghui Development | 13,432,875,633.63 | 14,202,793,015.57 |
Non-controlling interests | 937,814,471.41 | 865,954,773.85 |
Total owners' equity | 14,370,690,105.04 | 15,068,747,789.42 |
Total liabilities and owners' equity | 22,203,845,940.87 | 21,351,919,400.65 |
If you wish to review the Shuanghui Development Quarterly Report in full, please visit www.szse.cn.
By order of the board of directors of
WH Group Limited Wan LongChairman and Chief Executive Officer
Hong Kong, October 30, 2017
As at the date of this announcement, the executive directors of the Company are Mr. WAN Long, Mr. GUO Lijun, Mr. ZHANG Taixi, Mr. SULLIVAN Kenneth Marc and Mr. YOU Mu; the non-executive director of the Company is Mr. JIAO Shuge; and the independent non- executive directors of the Company are Mr. HUANG Ming, Mr. LEE Conway Kong Wai and Mr. LAU, Jin Tin Don.
WH Group Ltd. published this content on 30 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 October 2017 10:27:06 UTC.
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