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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, 2017

For 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 LOSS

For 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

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at September 30, 2017

As at September 30, 2017

As 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

Current liabilities:

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

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)

As at September 30, 2017

As at September 30, 2017

As 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 Long

Chairman 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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