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Xiezhong International Holdings Limited協眾國際控股有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 3663) ANNOUNCEMENT OF THE UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017 FINANCIAL HIGHLIGHTSThe Group recorded revenue of RMB441.4 million for the six months ended 30 June 2017, representing an increase of 19.4% as compared to the revenue of RMB369.8 million for the six months ended 30 June 2016.
Loss attributable to equity shareholders of the Company was RMB33.8 million for the six months ended 30 June 2017 as compared to the profit of RMB15.4 million for the six months ended 30 June 2016.
INTERIM RESULTSThe board (the "Board") of directors (the "Directors") of Xiezhong International Holdings Limited (the "Company") is pleased to announce the unaudited consolidated results of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 June 2017. The audit committee of the Company has reviewed the interim financial results of the Group for the six months ended 30 June 2017. KPMG, the independent auditor of the Company, conducted an independent review on the interim financial report of the Company for the six months ended 30 June 2017 in accordance with Hong Kong Standard on Review Engagements 2410 "Review of interim financial information performed by the independent auditor of the entity", issued by the Hong Kong Institute of Certified Public Accountants, whose unmodified review report is included in the interim report to be sent to shareholders of the Company.
CONSOLIDATED STATEMENT OF PROFIT OR LOSSFor the six months ended 30 June 2017 - unaudited
Six months ended 30 June 2017 2016Revenue | Note 4 | RMB'000 441,407 | RMB'000 369,824 |
Cost of sales | (383,996) | (300,301) | |
Gross profit | 57,411 | 69,523 | |
Other income | 5 | 1,830 | 4,957 |
Distribution costs | (22,791) | (16,337) | |
Administrative expenses | (61,743) | (29,512) | |
(Loss)/profit from operations | (25,293) | 28,631 | |
Finance costs | 6(a) | (15,215) | (7,505) |
(Loss)/profit before taxation | (40,508) | 21,126 | |
Income tax | 7 | 4,682 | (5,409) |
(Loss)/profit for the period | (35,826) | 15,717 | |
Attributable to: Equity shareholders of the Company | (33,827) | 15,365 | |
Non-controlling interests | (1,999) | 352 | |
(Loss)/profit for the period | (35,826) | 15,717 | |
(Loss)/earnings per share (RMB) Basic and diluted | 8 | (0.042) | 0.019 |
For the six months ended 30 June 2017 - unaudited
Six months ended 30 June 2017 2016RMB'000 RMB'000
(Loss)/profit for the period (35,826) 15,717 Other comprehensive income for the periodof entities outside Mainland China, net of nil tax | 8,953 | (5,011) |
Total comprehensive income for the period | (26,873) | 10,706 |
Attributable to: Equity shareholders of the Company | (24,874) | 10,354 |
Non-controlling interests | (1,999) | 352 |
Total comprehensive income for the period | (26,873) | 10,706 |
Items that may be reclassified subsequently to profit or loss: Exchange differences on translation of financial statements
CONSOLIDATED STATEMENT OF FINANCIAL POSITIONAs at 30 June 2017 - unaudited
Note | At 30 June 2017 RMB'000 | At 31 December 2016 RMB'000 | |
Non-current assets Property, plant and equipment | 9 | 653,923 | 631,244 |
Lease prepayments | 49,602 | 50,224 | |
Intangible assets | 10 | 70,722 | 61,773 |
Goodwill | 46,832 | 46,832 | |
Long-term receivables | 12 | - | 3,972 |
Non-current prepayments | 33,246 | 42,279 | |
Deferred tax assets | 14,445 | 9,234 | |
868,770 | 845,558 | ||
Current assets Inventories | 11 | 220,855 | 219,374 |
Trade and other receivables | 12 | 721,850 | 623,636 |
Amounts due from related parties | 117,617 | 217,771 | |
Deposits with banks | 13 | 24,615 | 3,000 |
Cash | 14 | 90,919 | 75,735 |
1,175,856 | 1,139,516 | ||
Current liabilities Trade and other payables | 15 | 559,538 | 501,379 |
Amounts due to related parties | 29,347 | 25,480 | |
Interest-bearing borrowings | 16 | 562,417 | 387,776 |
Income tax payables | 4,739 | 9,119 | |
Provisions | 5,076 | 4,782 | |
1,161,117 | 928,536 | ||
Net current assets | 14,739 | 210,980 | |
Total assets less current liabilities | 883,509 | 1,056,538 |
Xiezhong International Holdings Ltd. published this content on 30 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 August 2017 14:07:05 UTC.
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